Full text of Survey of Current Business : August 1948
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AUGUST 194
SURVEY OF
U. S. DEPARTMENT OF COMMERCE
BUREAU OF FOREIGN AND DOMESTIC COMMERCE
DEPARTMENT OF COMMERCE
FIELD SERVICE
SURVEY
OF CURRENT BUSINESS
No. 8
AUGUST 1948
PAGE
THE BUSINESS SITUATION
National Product and Income in the Second Quarter
of 1948
Trend of Manufactures .
•
*
•
•
Atlanta 1, Ca.
50 Whitehall St. SW.
Miami 32, Fla.
36 NE. First St.
Baltimore 2, Md.
103 S. Gay St.
Milwaukee l,Wis.
517 E. Wisconsin Are,
Boston 9, Mass.
2 India St.
Minneapolis 1, Minn.
125 S. Third St.
Buffalo 3, N. Y.
117 Ellicott St.
Mobile, Ala.
109-13 St. Joseph St,
Butte, Mont.
14 W. Granite St.
New Orleans 12, La.
333 St. Charles Ave,
Charleston 3, S. C.
18 Broad St.
New York 1, N. Y.
350 Fifth Ave,
Cheyenne, Wyo.
304 Federal Office Bldg.
Oklahoma City 2, Okla.
102 NW. Third St.
Chicago 4, III.
332 S. Michigan Ave.
7
Cincinnati 2 t Ohio
105 W. Fourth St.
Cleveland 14, Ohio
925 Euclid Aye.
. 10
•
NEW OR REVISED STATISTICAL SERIES
Revised Estimates of Wholesale Sales and Stocks . . 22
•
Memphis 3, Tenn.
229 Federal Bid*
4
*
SPECIAL ARTICLE
State Income Payments in 1947
•
1
Albuquerque, N. Mex.
203 W. Gold Ave.
*
MONTHLY BUSINESS STATISTICS . . . . S-l to S-40
Statistical Index . .
. Inside Back Cover
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310 San Francisco St.
Philadelphia 2, Pa.
42 S. Fifteenth St.
Phoenix 8, Ariz.
234 N. Central Ave.
Pittsburgh 19, Pa.
700 Grant St.
Portland 4, Oreg.
520 SW. Morrison St.
Providence 3, R. I.
24 Weybossett St.
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50 Sierra St,
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135 High St.
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602 Federal Office Bldg.
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801 E. Broad St,
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311 W. Monroe St.
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911 Walnut St.
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312 North Spring St.
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125-29 Bull St.
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1319 Farnam St,
AUGUST 1948
I
CONSUMER INCOME,
SPENDING, AND PRICES
BILLIONS OF DOLLARS
DISPOSABLE
INCOME*
increase
in income
available to
consumers
L
THE
PERSONAL
!
I
•
I
PERCENT
PERSONAL TAXES AS A PERCENT OF
PERSONAL INCOME *i*
in part,
from lower
L
»a X es.
"
I I 1 1 I ) 1 I I
I
I , J,LJ o
BILLIONS OF DOLLARS
200
!
PERSONAL CONSUMPTION
EXPENDITURES*
I
i
rise in
consumer
spending....
L
P
I
has been
accompanied
by higher
prices,
especially
"
'00
I
•
I
INDEX, 1935-39= 100
CONSUMERS* PRICES
(B.L.S. INDEX)
for food.
-
^^~~—**
^^^^mmm—***
1
1 1 1 1 1 I
1946
1945
150
f^^ COMBINED
INDEX
1 1 1 1 1 I t 1
1947
1948
) LOCAL GOVERNMENTS.
U. S. DEPARTMENT OF COMMERCE, OFFICE OF BUSINESS ECONOMICS.
48-261
SITUATION
By the Office of Business Economics
!
I
E,
jCONOMIC activity was sustained at a high rate in
June and July. Rising costs and increasing demand relative
to the flow of goods were reflected in a further advance in. the
price level.
In recent weeks, the area of rising prices has broadened and
the pace of the advance has quickened. A diverse group of
important industrial raw materials, coal, iron and steel
together with fabricated metal products, and such major
foods as meat, dairy, and poultry products all registered
increases. Grain prices weakened, however, as crop prospects continued to improve both at home and abroad.
In view of the mounting pressure on prices, new legislation
was enacted in early August by the special session of Congress
authorizing the Board of Governors of the Federal Reserve
System to raise reserve requirements of member banks, and
to reestablish control of consumer installment credit which
had lapsed at the end of October of last year. As a complementary measure, the Secretary of the Treasury raised interest rates on short-term Government borrowing. Provision for easier housing credit was made, however, by the
liberalization of provisions of the National Housing Act.
Employment expanded more than seasonally in June and
rose again in July. Industrial production, though at a high
rate, was nevertheless moderately lower in June and July
than the rate attained in the first quarter of the year, as
operations continued to be handicapped by material shortages in basic industries (see table 1). For the first 6 months
of the year total nonagricultural production of commodities
averaged higher than in the latter half of 1947, but the gain
was narrow and confined wholly to the first quarter of the
year with some easing during the second quarter. The
trend of manufacturing output is analyzed in some detail in
a subsequent section.
In the agricultural sector, the output of goods for consumers is appreciably lower in the first half of 1947 than a
year earlier. The curtailment in marketing extended to
both crops and livestock and livestock products.
The progress of wage settlements in the "third round"
adjustment in the basic industries was reflected in a rise in
earnings data for June compiled by the Department of Labor.
Hourly earnings in manufacturing rose about two cents an
hour from May to June, and some major wage increases have
been granted since that time. This rise coupled with the
expansion in employment accounted for half of the 4.7
billion-dollar increase in total personal income from 207.2
billion dollars (annual rate) in May to 211.9 billion in June.
Most of the additional gain for the month was in farm
income.
SURVEY OF CURRENT BUSINESS
Table 1.—Production
Industrial
(adjusted)
Farm
marketings
(unadjusted)
(Index 1935-39=100)
1947:
First q u a r t e r . . .
Second quarter.
Third quarter..
Fourth quarter
1948:
First quarter. _.
Second quarter
June
189
185
182
191
130
127
164
170
193
190
192
118
121
130
Sources: Industrial Production, Board of Governors, Federal Reserve System; Farm
Marketings, U. S. Department of Agriculture, Bureau of Agricultural Economics.
The increase in personal disposable income from the first
to the second quarter of the year was accompanied by increases in both consumer spending and consumer prices (see
the chart on page 1). Part of the rise in disposable income, as is brought out in the second panel of the chart, was
due to the reduction in personal taxes. Recent changes in
the national income and product are discussed in detail in a
later section.
The value of goods flowing through distribution channels
was moderately higher at all levels, with the principal advance registered in durables. A 2-percent rise in the index
of manufacturers' sales from May to June was principally
due to a 6-percent advance in durables. New orders of
manufacturers—always a sensitive measure of general business sentiment—had drifted lower during the first few months
of the year, but in June they rose in a broad group of industries.
Second-quarter retail sales were from 2 to 3 percent higher
than in the preceding quarter as June sales increased slightly
over May almost to the high point reached in April of this
year. After adjustment for seasonal variation and the
number of trading days, the June index of retail sales stood
at 334 (1935-39 = 100) compared with 328 in May. Important factors acccounting for this rise were the improved
supply position of automobile dealers and the larger sales
of building materials and hardware dealers arising from the
heavy volume of construction and home repairs. With
apparel and general merchandise stores leading, most of the
nondurable stores registered advances of 1 to 3 percent;
food-store sales, however, edged downward for the second
month despite continued rises in food prices.
A renewed rise took place in business inventories during
June. Manufacturers' inventories rose 400 million dollars
with most of the gain in the nondurable industries. Trade
inventories were substantially unchanged at a time when a
seasonal decline normally takes place.
Construction Higher
New construction activity rose to 1.7 billion dollars in July,
one-third higher than the same month a year earlier. A portion of the rise is attributable to increasing costs during the
12-month period. Private residential construction continues
to be the leading individual component, accounting for 700
million dollars of value put in place during the month.
In June 93,500 new dwelling units were started, marking the
fourth consecutive month in which the 90,000 figure was
exceeded in this series and assuring a high volume of residential construction activity for several months to come.
A total of 450,000 housing starts during the first 6 months of
this year represents about half of the 950,000 starts projected
for the year as a whole. Commercial-building construction
and public-highway construction also showed substantial
dollar advances over June.
August 1948
Widespread Price Advances
Upward price pressures were featured in commodity
markets in July (see table 2), with the latest increases pushing
the monthly general wholesale price index above the postWorld War I peak of May 1920. Numerous price advances
were made affecting basic raw materials, which along with
higher wage rates will affect the cost of production of manufactured products. Supplementing the June 1948 advances
in such raw materials as aluminum and rubber, price increases in July and early August were announced for coal,
finished steel, copper, lead, zinc, glass, and nickel. Aside
from any effects resulting from the dropping of the basingpoint price system, steel prices were advanced about 10
percent in July. Subsequently, rises have occurred in scrap
steel and other materials entering into finished-steel production.
These higher prices of basic materials and higher wage
rates have already been reflected in rising prices of various
manufactured goods such as agricultural machinery, automobiles and rubber tires. To a considerable extent, however,
adjustment of prices of fabricated products has not yet
reflected the full impact of these cost increases.
Table 2.—Prices
Wholesale
All
Farm
Other
than farm
and food
(Index
1935-39=100)
(Index 1926=100)
1947:
First quarter. .
Second quarter.
Third quarter..
Fourth quarter
1948:
First quarter. „
Second quarter.
June
Consumers'
price index
145.2
147.5
153.9
160,5
172.7
176.8
183.2
191.4
129.1
131.8
135.9
142.7
154. 3
156.4
160.8
165.2
162.6
164.3
166.2
190.2
190.6
196.0
147.8
149.0
149.5
167. 7
170.5
171. 7
Source: U. S. Department of Labor, Bureau of Labor Statistics.
Effect of Agricultural Price Supports
The outstanding deviation from the general upward trend
of prices was in agricultural crop prices where there is the
prospect of bumper crops aggregating about 6 percent larger
than the previous record harvest of 1946. Although the
August 1948 crop report indicates a slight decline in wheat
production from a year ago, a record corn output is expected—more than two-fifths above last year—while other
grains such as barley, oats, and rye will also be considerably
above 1947. The pressure of the prospective enlarged grain
supply has reduced the average of wholesale grain prices
about 15 percent in the past 3 months, a period when the
usual seasonal movement is upward. Cotton prices have also
declined in reaction to the forecast of the largest output in
several years.
The Government price-support program has thus far
played a minor role in impeding the downward movement of
commodity cash prices, since most prices have been substantially above support levels. In the futures markets for
some important crops such as corn, wheat, and cotton,
however, supports have been a factor, these prices have
tended to fluctuate in recent months close to the expected
support-price level.
Of the major farm products for which price supports are
required under existing legislation, extensive support operations this year have been applied only to potatoes, eggs, wool,
peanuts, and some types of tobacco. The prospective extension of support operations to additional commodities reflects
downward adjustment of crop prices which will affect farm
SURVEY OF CUREENT BUSINESS
August 1948
income directly. The effect of this adjustment upon products
purchased by consumers, however, will for the most part be
indirect, as in cotton, or delayed, as in the feed grains.
Meat, poultry, and dairy products—which enter most
directly into the cost of living—have maintained or widened
their margin over their support prices since last year. Hog
prices, for example, in July 1948 were 54 percent above the
support-price level, as compared with a similar percentage
prevailing in 1947. Chicken prices both in 1947 and thus far
in 1948 were sufficiently above mandatory support levels to
make unnecessary any announcement of support operations,
a situation which also characterized wholesale milk and butterfat prices.
Chart 2.—Employees in Nonagricultural Establishments x
INDUSTRY
DIVISION
50
INDEX, JUNE 1939 = 100
100
200
MANUFACTURING,
A L L INDUSTRIES
DURABLE
GOODS
INDUSTRIES
NONDURABLE
GOODS
INDUSTRIES
CONTRACT
CONSTRUCTION
1 % ^ % % ^ ^
. ..." ...;> ..:.. . ^ ;
^
^
^
^
TRADE
GOVERNMENT
[%^^^^%^^^
SERVICE
TRANSPORTATION
AND PUBLIC
UTILITIES
FINANCE
yftzz&zpfzz^^
MINING
U. $. DEPARTMENT OF COMMERCE, OFFICE OF BUSINESS ECONOMICS.
1
Includes all full- and part-time wage and salary workers who worked or received pay
during the pay period ending nearest the 15th of the month. Proprietors, self-employed
persons, domestic servants, and personnel of the armed forces are excluded.
Sources: Basic data, U. S. Department of Labor, Bureau of Labor Statistics; indexes computed by the V. S. Department of Commerce, Office of Business Economics.
Recent Labor-Market Developments
In response to expanding employment opportunities, the
labor supply has increased during the past year somewhat
more than might have been expected on the basis of changes
in the working population. In June and July, for example,
the labor force averaged about 1 million more than a year
ago as compared with an expected normal growth of about
a half million. Employment has been expanded also by
drawing on the already low ranks of the unemployed which
in July were down to 2.2 million, about 400 thousand less
than a year ago. Total employment in July reached 61.6
million, a rise of 1.5 million or 2.5 percent over July a
year ago.
An added factor, important because of its future bearing
3n the civilian supply of labor, was the recent enactment of
selective service legislation which may be expected over the
coming year or so to absorb a considerable portion of the
normal growth in the labor force. On the other hand, there
is reason to believe that some of those veterans who have
been kept out of the labor force by unusual schooling schedules may seek work. In general, in view of these considerations coupled with the already high employment rates, it
would appear that labor supply in the months ahead will be
only moderately increased.
The employment increase over the past year has been
confined to nonfarm areas. According to Census Bureau
estimates, total nonagricultural employment reached 52.5
million in July, a half million more than in June, and 2.5
million above a year ago.
The latest data on the industrial distribution of employment relate to the month of June. Indexes of employment
by major nonfarm industry groups are shown in chart 2,
using June 1939 as equal to 100. Compared with 1939, all
nonfarm industries showed substantial increases in the
number of persons at work. The larger relative rise over
this period in durable manufactures and in construction
reflects in part the fact that these industries were more
affected by the underemployment conditions prevailing in
1939, but more important, perhaps, these increases indicate
the large backlog of demand for heavy goods and construction built up during the war period.
Little Change in Durable-Goods Employment
The more recent changes in the general employment
situation are interesting in several respects. For example,
whereas most of the postwar gain in employment in durablegoods manufacturing has occurred by mid-1947, contractconstruction employment has continued to move steadily
ahead. Although the supply of materials has been a limiting
factor in both areas, improvement in employment and output
in recent months has been more feasible in the construction
field where the supply of steel is not so important a factor as
in the metal-fabricating industries. Only in the case of the
"lumber and timber basic products" group was there any
substantial employment gain in the hard-goods industries.
This increase and scattered smaller increases in other major
groups producing hard goods were largely offset by reductions in shipbuilding and in radio and electrical-equipment
manufacturing employment.
Increase in Nondurable-Goods Employment
As is clear from the chart, the rise in manufacturing
employment over the last 12 months centered in nondurablegoods industries, chiefly in textiles, apparel, and food manufacture. In part, this is a reflection of a substantial reduction in employment in the spring and summer months of
1947 in the textile and apparel groups, which represented
not only a part of a major reversion to prewar seasonal
patterns of production but also some softening of demand.
This year the post-Easter employment decline was more
moderate and apparently of shorter duration than last year.
Among the nonmanufacturing groups other than construction, the largest 12-month increase in employment was
in the government sector, where an expansion of 230,000 at
the State- and local-government level was greater than the
drop of 80,000 in the number of Federal workers. The rise
for the "State and local" group for the most part reflects
continued expansion of public-works programs. Employment in trade, practically steady so far in 1948, was also
well above last year's level.
Workweek Stable
The increase in nonagricultural employment in the last
12 months resulted in a corresponding gain in man-hours of
work as the average number of hours worked remained
(Continued on p. 24)
SURVEY OF CUEEENT BUSINESS
August 1948
National Product and Income in the Second Quarter of 1948
national product, which measures the value of
the nation's output of goods and services at market prices,
reached a seasonally adjusted annual rate of 248 billion
dollars in the second quarter of 1948. This total reflects an
increase of abouc 3 billion dollars from the preceding quarter,
when a temporary leveling-off had occurred after an extraordinarily pronounced spurt in the final months of 1947.
These movements may be placed in perspective by reference to chart 3, which shows the trend of gross national
product and of its major components over the past 2% years.
Gross private domestic investment, perhaps the most dynamic of these components during the recent past, is further
analyzed in chart 4, where the volatile movements of business
inventories during 1947 and 1948 are highlighted.
The accelerated second-quarter growth of product represents a resumption of inflationary pressures temporarily
abated earlier this year. Consumer and business expenditures are rising, influenced by the income-tax reduction,
the further increase in wage rates, and the projected expansion of government expenditures for European aid and
rearmament. None of these major factors was fully operative during the second quarter, but all of them have tended
VFROSS
Chart 3.—Gross National Product and Major Components
to exert mounting force upon the economy during the
current quarter.
The recent 4-billion-dollar increment in national product
resulted from divergent changes in various sectors of demand.
Consumers and government purchased considerably more
goods and services than earlier in the year, but the increase
in aggregate national product was dampened by a decline in
gross private domestic investment, due solely to reduced
accumulation of business inventories. Net foreign investment remained stable at the first-quarter level. These
developments are described in some detail in the following
paragraphs.
Chart 4.—Composition of Gross Private Domestic
Investment
BILLIONS OF DOLLARS
+ 50
-
+ 40
TOTAL
—
PRODUCERS1
DURABLE EQUIPMENT
+ 20 _
260
TOTAL
240
V
-*
^
+ 30
^r
BILLIONS OF OOLLARS
^^^*
+ 10
*^<^~~m
_
-r----*
-
^^^NEW CONSTRUCTION
0
220
CHANGE IN r("*nT~~
INVENTORIES
^ * ^
f
^ ^
i
-10
mm
200
1
1 )
1946
1
1
1
1
1947
!
1 1
1948
QUARTERLY TOTALS, SEASONALLY ADJUSTED, AT ANNUAL RATES
U.S. DEPARTMENT OF COMMERCE, OFFICE OF BUSINESS ECONOMICS.
160
-
Source of data: U. S. Department of Commerce, Office of Business Economics.
160
^ -
PERSONAL CONSUMPTION
EXPENDITURES J /
—
140
i
120
l
t
1
I
1
1
1
1
1
I
60
40
_
GROSS
DOMESTIC
GOVERNMENT
PURCHASESb
PRIVATE
INVESTMENT
\
# i
20
NET FOREIGN ^
INVESTMENT ^ N ,
0
48-27i
mmm 1
—( 0 ~ mm
r
~"
1946
i
i
1947
i *T**n- i
1948
i
QUARTERLY TOTALS, SEASONALLY ADJUSTED, AT ANNUAL RATES
U.S. 0EPARTMEN7 OF COMMERCE, OFFICE OF BUSINESS. ECONOMICS.
' Data are for goods and services.
Source of data: U. S. Department of Commerce, Office of Business Economics.
49-£73
Consumer Expenditures Higher
After the hesitation apparent in the first quarter, when
personal consumption expenditures showed their smallest
increase since the end of the war, consumer spending accelerated moderately again. An advance of 3.1 billion dollars in the second quarter brought the seasonally adjusted
annual rate to 175.1 billion dollars. The increase was
spread fairly evenly, in absolute terms, among durable goods,
nondurables, and services, with the first-named group experiencing the largest proportionate rise. This effort on the
part of consumers to replenish depleted stocks of durable
articles has characterized the entire postwar period. Sales
of furniture and housefurnishings, which had slackened early
this year, moved above the previous fourth-quarter peak
and accounted for most of the increased expenditure for
durables. Expansion of nondurable-goods sales in the second
quarter was concentrated in clothing and food, and reflected
price movements in the main, rather than a change in real
terms.
Private Investment Strong
Gross private domestic investment absorbed a smaller
fraction of the national output in the second quarter than
during the earlier months of 1948. This was due entirely to
SURVEY OF CURRENT BUSINESS
August 1948
the reduced rate of nonfarm inventory accumulation noted
below, as other components of private investment either
remained constant or increased moderately.
After a rapid rise in the latter half of 1947, new private
construction activity has continued at the high rate of the
fourth quarter. A slight increase was registered in the first
3 months of this year, the resultant rate of 14.3 billion dollars
being sustained in the second quarter. For three consecutive quarters, private construction has constituted a larger
proportion of gross national product than in any year since
1930.
No significant shifts in the composition of new construction occurred during the second quarter. There were fractional declines in industrial and nonfarm residential building,
Table 3.—National Income and Product, First and Second Quarters
of 1948 i
[Billions of dollars]
Seasonally adjusted,
at annual rates
Unadjusted
Item
I
II
National income by distributive shares
National income
Compensation of employees
Wages and salaries
Private
Military
Government civilian
Supplements to wages and salaries
Proprietors' and rental income2
Business and professional
Farm
Rental income of persons
Corporative profits and inventory valuation
adjustment
Corporate profits before tax
Corporate-profits tax liability
Corporate profits after tax
Inventory valuation adjustment
Net interest
Addendum: Compensation of general government employees
53.2
32.9
31.6
27.1
.9
3.6
1.3
12.6
6.3
4.5
1.9
()
33.5
32.3
27.7
.9
3.7
1.2
13.0
6.4
4.7
1.9
215.1
133.7
128.8
111.1
133.9
129.1
111.0
14.2
14.5
50.6
25.0
18.0
51.9
25.4
18.9
3.5
3.6
4.9
4.9
7.5
7.6
6.5
7.8
3.0
4.8
-1.3
1.2
()
-.6
1.2
4.2
4.3
16.5
16.9
41.0
4.9
23.7
12.5
10.0
2.9
1.4
1.5
4.9
2.2
2.3
1.0
7.3
4.3
.3
3.3
60.5
43.0
5.3
25.0
12.6
8.4
3.6
1.7
1.8
5.1
-.3
-.4
1.0
8.2
4.6
.2
3.7
243.8
172.0
21.4
101.0
49.6
38.5
14.3
248.2
175.1
22.3
102.4
50.4
37.2
14.3
19.6
20.6
29.4
17.3
32.1
18.6
13.4
14.2
51.1
9.3
8.6
.6
41.8
41.0
.7
52.4
3.9
3.3
.6
48.5
43.0
5.5
207.3
23.6
21.5
208.8
21.6
19.4
183.7
172.0
11.7
187.3
175.]
12.2
59.3
60.5
3.6
4.8
.2
243.8
14.0
18.9
248.2
14.2
19.4
. a0
. a0
26.2
31.4
12.2
19.2
-5.3
4.6
(3)
(3)
(')
(*)
-2.5
4.7
Gross national product or expenditure
Gross national product
Personal consumption expenditures
Durable goods
Nondurable goods
Services
Gross private domestic investment.
New construction
_..
Residential nonfarm
Other
Producers' durable equipment
Change in business inventories, total
Nonfarm only
Net foreign investment
Government purchases of goods and services.
Federal
Less: Government sales
State and local
7.0
7.3
6.9
7.4
2.3
1.8
3.9
4.6
5.1
3.9
1.3
.7
Disposition of personal income
Personal income
Less: Personal tax and nontax payments
Federal
State and local
Equals: Disposable personal income
Less: Personal consumption expenditures
Equals: Personal saving
2.1
2.1
Relation oj gross national product, national income,
and personal income
Gross national product
Less: Capital consumtpion allowances
_
Indirect business tax and nontax liability
Business transfer payments
Statistical discrepancy
Plus: Subsidies less current surplus of government enterprises
Equals: National income
Less: Corporate profits and inventory valuation
adjustment
C ontributions for social insurance
Excess of wage accruals over disbursements..
Plus: Government transfer payments
Net interest paid by government
Dividends
Business transfer payments
Equals: Personal income
3.5
4.6
.2
-2.2
-.1
53.2
6.5
1.3
0
2.7
1.1
1.7
.2
51.1
* Detail will not necessarily add to totals because of rounding.
2
Includes noncorporate inventory valuation adjustment.
* Not available.
-5.2
-.1
)
()
1.3
0
2.7
1.4
1.7
.2
52.4
-.3
-.3
215.1
(3)
26.2
(3)
5.0
0
5.0
0
10.9
10.6
207.3
208.8
4.6
7.3
.6
4.7
7.3
.6
offset by minor gains in the public-utility group, but seasonal adjustment factors are not sufficiently precise to permit
attachment of meaning to changes of such magnitudes.
Residential building continued, as in the previous two
quarters, to constitute an extraordinarily large portion—
about half—of new private construction.
Business investment in producers' durable equipment advanced to an annual rate of 20.6 billion dollars, as compared
with 19.6 billion dollars during the first quarter. Virtually
all components, including machinery, commercial motor vehicles, and railroad equipment, shared in the advance. However, a considerable part of the increase was probably attributable to price factors rather than to an increase in the physical volume of production.
The accelerated accumulation of business inventories
which took place in the first quarter of 1948 was curtailed in
the second to a billion dollar annual rate. As noted in the
May SURVEY, the increase in the early months of the year
had been restricted to trade inventories and was concentrated
at the retail level. Its association with a flattening of consumer expenditures suggested that the accumulation was, at
least in part, involuntary. In the second quarter, however,
with disposable personal income increasing, retail sales
picked up again. In consequence, retailers' stocks were
more readily moved, and these inventories, in real terms,
remained very nearly constant. The less pronounced accumulation of wholesale trade inventories in the first quarter
also virtually disappeared in the second.
In contrast with trade stocks, manufacturing inventories,
which had remained stable (after valuation adjustment) in
the early part of the year, rose moderately in the second
quarter to account for the bulk of the nonfarn business inventory movement shown in table 3.
Shift in Financing Foreign Requirements
Net foreign investment, following the large decline in the
first quarter, held steady at an annual rate of approximately
4 billion dollars. While merchandise imports fell off somewhat from the peak achieved earlier in the year, this was
offset by an increase in Government unilateral transfers,
which had the same statistical effect upon the net foreign
investment figure as a rise in imports (or a reduction of
exports). The drain on foreign gold and dollar reserves,
which had slackened sharply in the first quarter, was temporarily renewed (although by no means to the 1947 level)
pending full-scale operation of the European Recovery Program. This shift in foreign countries' means of financing
imports from the United States was occasioned primarily by
reduced disbursements of Government loans.
In interpreting changes in net foreign investment between
1947 and 1948, an' important alteration in the form of U. S.
Government assistance should be borne in mind. Last year,
American aid consisted predominantly of loans, and expenditure of the proceeds of such loans by foreigners for our
exports entered gross national product under the heading of
net foreign investment. This year, on the other hand,
direct assistance in the form of grants will predominate, and
these are reflected in the gross national product as Government expenditures. In the computation of the balance of
international payments, the recording of unilateral transfers
representing such direct aid offsets a corresponding amount
of exports, and thus eliminates that amount from net foreign
investment. It is apparent, then, that a shift from foreign
investment to Government expenditures may transpire
without a significant change in the actual net international
flow of goods and services. To a considerable degree, this
has been, in fact, the nature of the decline in net foreign
investment in 1948.
The aggregate Government component of gross national
product accelerated its slow climb from the postwar low
SUKVEY OF CURRENT BUSINESS
reached in the initial quarter of 1947. The advance of 2.7
billion dollars recorded for the 3 months ending in June
1948 is the most marked in this series of increments, but
the appearance is partially misleading. The real turn in
Federal expenditures (on a gross basis) came in the first
quarter, when the downward drift prevalent in 1947 was reversed, principally by a swelling of interim aid to Europe.
This development was obscured in the Government total by
a sharp temporary jump in the volume of foreign surplusproperty sales netted out.
A similarly marked, but inverse, movement of Government sales abroad in the second quarter accounted for well
over half a billion dollars of the increase in net Federal purchases. Even on a gross basis, however, the commencement
of operations by the Economic Cooperation Administration,
along with continuation of interim aid, brought an increment in excess of the first quarter's, and the amount may be
expected to move further upward as European aid and the
expanded rearmament program reach their scheduled volume
in the latter half of 1948. As noted more fully in the commentary on net foreign investment, the expansion of Federal
outlays for goods and services this year reflects in large
measure the switch in financing of European aid from loans
to grants, rather than a change in over-all foreign assistance.
State and Local Government Expenditures
State and local government purchases resumed the rise
almost continuously evident since the end of the war. The
expansion had been interrupted in the first quarter by a
decline in public construction occasioned by adverse weather
conditions and materials shortages. In the more recent
period, however, state and local construction, especially of
highways, accounted for the bulk of the advance in nonfederal government expenditures.
Flow of Income Increasing
In the absence of data on corporate profits, no nationalincome estimate for the second quarter is yet available.
Such developments as are noteworthy in its components,
other than corporate profits, are touched upon below in the
framework of the personal-income concept.
Total personal income increased slightly from the first to
the second quarter of 1948. The increase was concentrated
in farm income, which, as measured in the personal-income
series, rose nearly 1 billion dollars at an annual rate. Absence of seasonally-adjusted quarterly data measuring inventories of crops and livestock held on farms prevents
exact measurement of quarterly variations in farm income,
but the general character of the upward movement is clear.
Both the large volume of production and the recovery of
prices after the February break contributed to high agricultural income.
Wage and salary receipts did not show any appreciable
increase between the first and second quarters. This was
primarily due to a continuous decline of some magnitude
from January through April in the commodity-producing
industries. During the early months of the year, slackening
employment underlay this movement, but it was intensified
by labor-management disputes and attendant fuel and material shortages in April and May. By June, however,
settlement of these disputes with increased wage rates had
lifted wages and salaries above the first-quarter average.
Thus, in the absence of significant changes in employment
or further major labor-management difficulties, the newly
negotiated rates will be more fully reflected in higher wage
and salary receipts in the second half of the year.
Dividends and rental income were stable in the second
quarter, and interest remained very nearly so, showing only
an insignificant rise. Nonfarm proprietors' income increased
August 1948
less than half a billion dollars, while transfer payments
exhibited a decline of little consequence.
Despite the relative stability of personal income, an
important increase in disposable income occurred during the
second quarter. This major development took place chiefly
by virtue of the reduction in rates of Federal income-tax
withholding in May. It is estimated that an annual rate of
about 2 billion dollars was put at the disposition of consumers in the second quarter by the operation of the new tax
law. Since, however, the results anticipated from a full
year's operation under its provisions are by no means fully
reflected in the second-quarter estimates, an examination of
its expected impact in the near future may be of interest to
many readers.
Effect of Reduced Taxes on Income
Throughout the following commentary, it should be
remembered that in the disposition-of-income statistics,
personal taxes are counted on a collections rather than a
liability basis. As a result of this concept, the ultimate
effects of the new Federal tax rates will be felt only in staggered
fashion over a considerable period of time.
The first and most immediate reflection is in withholdings,
which account for more than half of Federal income-tax
collections. In this area the new rates became effective at
once for wage and salary payments made after April 30.
At the current level of personal income, the resultant reduction in withholding-tax collections at annual rates is estimated
at approximately 3 billion dollars. Continuation of collections at the old rates during April, however, restricted the
second-quarter decline by one-third. The full amount, of
course, will be apparent in the third quarter.
Nonwithholding Federal income taxes fall into three broad
groups, of which only one will be affected at all in 1948 by
the recent rate change.
First, we may mention back taxes. This group, defined
by the Treasury to include only taxes more than a year overdue, constitutes a relatively small portion of the total.
These collections are at a fairly stable level determined by
prior years' liabilities, and are completely unaffected by the
new law.
Secondly, there is a large volume of end-of-year settlements, related to the previous year's income and computed
at the old rates. In the calculation of seasonally-adjusted
personal taxes, these are spread evenly through the calendar
year of collection; hence the new law will not affect them
until 1949.
Finally, there are the quarterly declaration payments, due
in March, June, September, and January for the first, second,
third, and fourth quarters, respectively. The January instalment may also include final settlement of the year's
liability, and is subject to the considerations outlined above
for end-of-year payments, i. e., that collections are go kerned
by prior-year income and tax rates. Since, for 1948, the
March declaration payment fell due before passage of the
tax bill, only the June and September instalments are potentially subject to the influence of the recent rate reduction.
If all taxpayers complied quite literally with the regulations
regarding quarterly instalments, and if all were able and
willing to estimate accurately their incomes for the year, a
pronounced impact of the new legislation upon this tax
category would be apparent in the estimated annual rates
for the second quarter. The decline under these circumstances would have exceeded the effects of rate reduction,
due to permissible credits for overpayment in March. As a
matter of fact, however, taxpayers in the aggregate have
consistently underestimated their liabilities in making quarterly declarations, as is attested by the very large volume of
end-of-year settlements. Except on the unlikely hypothesis
August 1948
SUKVEY OF CUKKENT BUSINESS
that the systematically adjusted their underestimates in
proportion to the rate change when filing June returns, no
very material drop could be expected in this group for the
remainder of 1948. Accordingly, only a modest allowance
has been made in the second-quarter estimates for reduced
nonwithholding income-tax collections. This condition will
persist m the third and fourth quarters of this year, but the
full reduction—an additional amount probably not far from
2 billion dollars—will be felt in 1949 when final settlements
are being made at the lower rates.
Moreover, the volume of refunds netted out of personal
taxes next year is expected to be particularly large, due
to overwithholding in the first 4 months of 1948. The
result will be to exaggerate the impact of reduced rates,
the income-splitting privilege, and increased exemptions,
beyond that contemplated for a normal full year's operation
of the new law.
The staggered effects of Federal income-tax revision upon
our personal-tax series, then, may be summarized as follows:
(1) In the second quarter of this year, personal taxes reflected
two-thirds of the estimated withholding reduction, but only
a small fraction of the ultimate decline in nonwithholding
collections. (2) The situation with respect to the latter
group will not change in the second half of 1948, but the
full drop in withholding will then become apparent. (3)
Beginning with the first quarter of 1949, the entire reduction
in other-than-withholding payments will be reflected for the
first time, as end-of-year settlements are made under the
new law, and all the effects of a lower tax structure will be
reinforced by abnormally large refunds.
Each of these declines in personal taxes must, of course,
exercise an opposite influence upon disposable personal income. The increase in the latter measure thus induced in
the second quarter of 1948 somewhat outweighed the concomitant increment resulting from the rise in personal income
before taxes. It is expected that disposable income will be
further bolstered by effects of the tax cut in the third quarter
and again—more pronouncedly —at the beginning of 1949.
The second quarter pick-up in consumption expenditures
was slightly more than offset by the swelling of funds at the
disposition of consumers, with the result that personal saving
edged up. The fact that saving has been maintained at a
slightly higher ratio to disposable income for two quarters of
1948 than in the second half of last year seems to confirm
the suggestion made in the May SURVEY that the postwar
downdnft in this ratio has ceased.
Trend of Manufactures
MANUFACTURING production edged higher during the
first half of 1948. The rate of advance, after full allowance for
seasonal influences, was probably the slowest for any 6-month
period since the postwar uptrend began; likewise, there were
fewer industries reporting gains in output this year than in
previous periods and more where downward adjustments
were recorded. Nevertheless, the weight of evidence points
to a net improvement in the flow of supplies to businesses
and consumers. It is apparent that additional industries
have been added to the list of those which have worked off
demand backlogs, while at the same time some industries
have staged a renewed upturn after experiencing an earlier
setback.
Production alone, however, does not tell the full story.
The quality of goods manufactured in the past 12 months
has undoubtedly shown improvement. Moreover, the consumer is currently finding some previously scarce goods more
readily available and with more choice in variety—both factors are real in terms of consumer desires but are not subject
to quantitative measurement. Thus, while it appears that
production gains have been small, comparison with previous
periods should take into account the above and other intangible factors which are not directly measurable in any
over-all production index.
The magnitude of the gain in manufacturing output is
difficult to measure, although it is known to have been
small in the recent period. For the past 18 months or
more there has been virtually no slack in the use of the
nation's productive capacity and in raw materials supplies.
In general, the further additions to output may be traceable
to the accumulated benefits resulting from the improvement
in the flow of raw materials, the substantial investment in
new plant and equipment, larger employment, and its more
effective utilization.
Irregular Upward Movement
During the past year and a half, when industrial output
was increasing at a considerably slower rate than in 1946,
there have been periodic interruptions of the upward movement. For the most part these interruptions have been
localized and associated with work stoppages and with
instances where the consumption of raw materials has
temporarily outdistanced the production of new supplies.
The only period when there was any general hesitation in
activity was in the second quarter of 1947, when a faltering
in the rate of buying by business concerns was translated
into lower production in some manufacturing industries.
After the summer shut-downs, the productive curve turned
upward, reaching a high rate in late 1947 and since then it
has held close to that level.
Relative Stability in Recent Months
The accompanying table shows the movement of manufacturing production since the final quarter of last year. On
the whole, the results for the first quarter of 1948 were somewhat better than seasonal expectations; on the other hand,
the second quarter turned in a less-than-seasonal performance largely because of the 4-week work stoppage at bituminous coal mines and the resultant curtailment in the rate
of steel operations. Most of the increase in output from the
second half of 1947 to the first half of 1948 is traceable to
the third-to-fourth-quarter advance rather than to any
important gain subsequent to the fourth quarter.
Contrasting Production Patterns
It is difficult to generalize about the pattern of production
in individual industries during the 3 years since VJ-day
because there has been considerable variation. The indexes
of output assembled in chart 5 provide one method of illustrating this variation. In each case the production series
has been converted to an index with the highest quarterly
Table 4.—Manufacturing Production
[Seasonally adjusted indexes, 1935-39=100]
Period
1946:
First quarter..
Second quarter
Third quarter _.
Fourth quarter
Year
1947:
First quarter..
Second quarter.
Third quarter..
Fourth quarter
Year
1948:
First quarter...
Second quarter.
Durable
Total
Nondurable
manufactures manufactures manufactures
163
173
182
190
177
162
186
207
213
192
165
162
162
172
165
197
192
188
198
193
223
220
211
225
220
176
170
168
176
172
200
228
178
*> Preliminary.
Source: Board of Governors of the Federal Reserve System.
SURVEY OF CURRENT BUSINESS
8
production in the postwar period equal to 100. This method
of presentation facilitates comparisons of the current position
of various industries relative to their best postwar performance.
Once postwar reconversion had been achieved, industry
after industry reached new production marks. Some have
then receded to lower rates of output but, on the whole, the
industries where manufacturing activity either has been
sustained at or close to peak rates, or is still rising to the
extent permitted by available materials, are far more
important in terms of production than the industries which
have shown appreciable declines. This accounts for the
continued uptrend in production which has already been
described.
Of the 26 manufactured products covered in the chart,
the first to reach its postwar high mark was women's, misses',
August 1048
and children's clothing. Output of this class of clothing was
highest in the initial quarter of 1946—even after allowance
for seasonal influences. Footwear was next to reach its
postwar peak—which came in the June quarter of that year,
normally a seasonally low period—and two additional products, truck trailers and cigars, turned in their highest output
to date in the final quarter of 1946.
New postwar production records were successively made
by other products—automobile tires, nonelectric water
heaters, and glass containers in the first quarter of 1947, and
oil burners and coach trailers in the third. A much larger
group of commodities hit their best postwar marks in the
final 1947 quarter when many industries were operating at
seasonally high rates. I t should be noted that some of the
subsequent production declines were due to normal seasonal
factors.
Chart 5.—Postwar Production Trends
INDEX, HIGHEST QUARTERLY
PRODUCTION IN POSTWAR = 100
125
WATER HEATERS
INDEX, HIGHEST QUARTERLY
PRODUCTION IN POSTWAR = 100
125
100
_
'WASHING MACHINES. . . .
HOUSEHOLD
REFRIGERATORS.
HOUSEHOLD
(NONELECTRIC)
v.
(NONELECTRIC)
V
75
50
COOKING STOVES AND
RANGES, DOMESTIC
RADIOS^
100
V
75
50
VACUUM CLEANERS
HEATING STOVES,
DOMESTIC
(FLOOR)
(ELECTIC)
WATER HEATERS
(ELECTRIC)
25
25
® 6-MONTHS AVERAGE
@ 6-MONTHS AVERAGE
0
\
I I
I
I
i
I
i
I
1
1
1 I
I
I
I
I
I
I
I
I I
I
I
I
{ I
I
I
1 I
1 I
0
1
| 125
125
TRAILERS, TRUCK
TRUCKS AND
BUSSES, MOTOR
OIL BURNERS
100
TIRES, RUBBER
(PASSENGER AND TRUCK)
100
\
75
AUTOMOBIL ES,
PASSENGER
50
BATTERIES,
AUTOMOTIVE
REPLACEMENT
TRAILERS, COACH
_
(HOUSING TYPE)
6-MONTHS AVERAGE
0
I
I
1 1 I
I
I
1 I
I
I
I
I
I
I
125
FOOTWEAR*/
PASSENGER CARS,
RAILWAY &
1 1 I
I
1 I 1
I
1 1 I
I
I
I
I
25
1 I
0
125
MEN'S. YOUTHS'
AND BOYS'
CLOTHING y
CONTAINERS, GLASS
A CIGARS, LARGE
(SEASONALLY ADJUSTED)
f (TAX-PAID)
100
PAPER®
75
CIGARETTES, SMALL
-
(TAX-FREE AND TAX-PAID)
(SEASONALLY ADJUSTED)
WOMEN'S, MISSES' AND
CHILDREN'S CLOTHING2/
ELECTRIC
/
FREIGHT CARS,
RAILWAY V
(ALL TYPES)
50
25
I
1 I
1946
I
I
I
1 I
1947
DEPARTMENT OF COMMERCE,
I
I I
1948
1946
1 1
1947
I
I 1
1948
I
I
1946
1 I 1 1 1 1 1 1 I
1947
1948
1 1 1 1 1 1 1 1 1 ) 1
1946
1947
1948
OFFICE OF BUSINESS ECONOMICS.
1
Basic data represent production or shipments. Data for some products for the second quarter of 1948 include estimates for June by the U. S. Department of Commerce, Office of Business;
Economics.
2
3 Include radio-phonograph combinations and television receivers.
Include a small number of cars delivered for export. Data do not include a large number of military cars which were produced in 1946.
* Represents production of freight cars for domestic use and for export. The cars for export were converted to the equivalent domestic freight-car basis by assuming that two export cars
were6 equal to one domestic car.
6 Data are weighted indexes. (See the SURVEY OF CURRENT BUSINESS, June 1947, p. 17.)
Excludes building board.
Sources: Indexes were computed by the U. S. Department of Commerce, Office of Business Economics; from basic data published by governmental and private agencies as follows: Washing machines, American Washer and Ironer Manufacturers' Association; refrigerators, electric ranges, and electric water heaters, National Electrical Manufacturers Association; radios, Radio
Manufacturers Association; vacuum cleaners, Vacuum Cleaner Manufacturers Association; cooking stoves and ranges, heating stoves, nonelectric water heaters, oil burners, trailers, footwear,
men's and women's clothing, paper, and electric lamps, U. S. Department of Commerce, Bureau of the Census; motor trucks and busses and passenger automobiles, Automobile Manufacturers Association; tires, Rubber Manufacturers Association; batteries, Association of American Battery Manufacturers, Inc.; railway cars, American Railway Car Institute; cigars and
cigarettes, U. S. Treasury Department, Bureau of Internal Revenue; and glass containers, Glass Container Association.
August 1948
SURVEY OF CURRENT BUSINESS
For as many as nine of the products shown, however, the
postwar uptrend in output has proceeded almost uninterruptedly through the first half of 1948. Included among these
products are many of those produced in the reconversion
industries where backlogs have been large—refrigerators,
washing machines, electric ranges, nonelectric cooking stoves,
railway freight cars, and trucks.
Passenger automobiles are in the position of having a large
backlog of unsatisfied demand and of being unable, so far
in 1948, to exceed the rate of output in the December
quarter of last year when about 1 million cars rolled off the
assembly lines. The availability of steel has been a chief
factor in determining the rate of operations in the automobile industry and in other important metal-using industries
such as railway-transportation equipment.
A few soft-goods industries also have been operating close
to their postwar peaks in the most recent quarter. These
included men's clothing, paper and products, and cigarettes. These products have been produced at a high rate
throughout the postward period.
Magnitude of Downward Adjustment
In some cases the adjustment of production schedules to
a less intensive demand basis has involved a significant cutback in the rate of operations. Oil burners provide an
example of extreme change, since the output rate in the
second quarter of 1948 was only one-fourth of the earlier
peak rate. This reduction, however, reflects to a large
extent the tightened fuel-oil supply situation. Declines in
the neighborhood of 50 percent have been experienced in a
few other durables such as truck trailers, heating stoves, and
nonelectric water heaters.
The adjustment in rubber tires has been of much smaller
magnitude. In the March and June quarters output was
running at better than 80 percent of the peak quarterly
volume of 25 million casings.
Similarly, shipments of glass containers have been tapering off since the first quarter of 1947 with output in the latest
quarter representing 80 percent of its earlier high. To some
extent, renewed competition from metal and paper containers
and higher inventories in the hands of manufacturers account
for the downturn in this industry.
The decline since late 1947 in the number of radio sets
manufactured largely reflects, apart from seasonal factors,
the drop in shipments of table models which has been in
evidence for over a year and, more recently, in console
models. At the same time, the number of television receivers produced has advanced sharply. In the third
quarter of 1947 these receivers were being turned out at a
rate of 18,000 units a month; in the quarter just ended, the
monthly rate was up to about 60,000. When the various
types of radio and television sets are combined into a
weighted index of production, a considerably smaller decline
is indicated.
Women's apparel is one of the lines where output has
staged a moderate comeback. The latest production reports for this industry cover the first quarter of 1948 when
operations were within 10 percent of the postwar peak. A
year previous, production in terms of numbers of garments
produced was running 20 percent below the peak quarter.
These comparisons, however, are of numbers and do not
allow for changes in the composition of the product or the
amount of materials and workmanship involved.
9
Comparison With Prewar Volume
Additional perspective on the present position of 15 important durable goods manufactured by the reconversion
industries is provided by chart 6. This chart compares the
rate of output in the first half of 1948 with the average
monthly rate in 1941, which was generally the peak prewar
year.
The recent rate of output for four of the products shown
was more than double the prewar rate. For five others, the
rate of increase ranged from 25 to 50 percent and for three
others the increase was more moderate.
Output of passenger automobiles, truck trailers, and
nonelectric cooking stoves in the first 6 months of the year
was below the base period by a small margin. In the case
of passenger cars it will be recalled that production was
being curtailed in the latter part of 1941 to release resources
for defense production.
Chart 6.—Production of Selected Manufactured Products : First Half of 1948 as a Percentage of 1941*
PERCENT
100
150
1
50
PRODUCT
1
PASSENGER CARS,
RAILWAY 2/
200
I
250
WASHING MACHINES,
HOUSEHOLD
1
:
RANGES, E L E C T R I C ^
VACUUM CLEANERS,
FLOOR
;...;
i
,
•
„
FREIGHT CARS,
RAILWAY i /
T I R E S , RUBBER
lM
\
1
,
TRUCKS AND BUSSES
REFRIGERATORS,
ELECTRIC i /
-
'
J
I
I
RADIOS 3 5/
BATTERIES, A U T O MOTIVE REPLACEMENT
'
HEATING STOVES,
DOMESTIC i /
i
WATER HEATERS,
NONELECTRIC
COOKING STOVES AND
RANGES, DOMESTIC
(NONELECTRIC) §/
AUTOMOBILES,
PASSENGER
TRAILERS, TRUCK
I..'
.
.
1
1
U.S. DEPARTMENT OF COMMERCE, OFFICE OF BUSINESS ECONOMICS.
1
Percentages are based upon monthly averages of production or shipments for the periods.
Basic data for some products for the first half of 1948 include estimates for June by the V. S.
Department
of Commerce, Office of Business Economics.
3
Include a few cars delivered for export. Data do not include a small number of military
cars
which
were
produced in 1941.
3
Actual production figures were raised to represent 100 percent of the industry by the U. S.
Department of Commerce on the basis of data furnished by the National Electrical Manufacturers
Association and Radio Manufacturers Association.
4
Represents production of freight cars for domestic use and for export. The cars for export
were converted to the equivalent domestic freight-car basis by assuming that two export cars
were
equal to one domestic car.
5
Include radio-phonograph combinations, but not television receivers.
6
Basic data for 1941 represent the fiscal year 1940-41.
Sources of basic data: The same as specified for the respective products shown in Chart 5.
By Charles F. Schwartz and Robert E. Graham, Jr.
State Income Payments
in 1947
INCOME payments to individuals in 1947 were of record
dollar volume in every State.
The total income received by individuals in the continental United States as a whole increased 11 percent from
1946 to 1947—from 171 billion dollars to 190 billions. In
large measure this expansion reflected increases in rates of
pay of wage-and-salary workers and in prices received by
farm and nonfarm proprietors. These in turn stemmed
from, and contributed to, the strong demand forces at work
throughout the economy.
On a regional basis, the largest relative gains in total
income payments from 1946 to 1947 occurred in the Northwest (20 percent), Southwest (15 percent), and Central
States (12 percent). The 7-percent rise of individual incomes
in the Far West was the smallest among the seven regions.
For the country as a whole, per capita income payments
in 1947 were $1,323. This was 9 percent above the 1946
average of $1,213 and 16 percent higher than the average of
$1,145 for the peak war year 1944. In every region except
the Far West per capita income in 1947 was appreciably
higher than in 1946 and 1944. The 1947 average income of
residents of the Far West was only 3 to 4 percent above
these levels.
The accompanying map shows State estimates of per capita
income payments for 1947. It reflects the high average
incomes of the far West and Middle East. For each of
these regions per capita income payments in 1947 are estimated at $1,559, nearly one-fifth above the national average.
Also clearly indicated by the map is the concentration of
low-income States in the Southeast and Southwest.
Although, as shown in table 5, the Southern States since
1929 have considerably improved their per capita incomes
in relation to the national average, all 15 of them, along
with West Virginia of the Middle Eastern region, are grouped
at the lower end of the array of all States in respect to size
of per capita income. The Southeast's 1947 per capita
income was one-third below the national average and twofifths below the composite average for the other six regions.
The per capita income of the Southwest was one-fifth below
the Nation-wide average.
A new feature revealed by the 1947 data is that for most
Northwestern States per capita incomes approached or
exceeded the national average. The 1946-47 gain of onefifth scored by this primarily agricultural region raised its
average income to a point 4 percent above the average for
the country as a whole. The Northwest's per capita income
was one-fifth below the national average in both 1929 and
1940. Among the Northwestern States, North Dakota's
record is particularly noteworthy. There a remarkable 42
percent increase in per capita income payments from 1946
to 1947 advanced the State to third place in the per capita
income array.
NOTE.—Mr. Schwartz and Mr. Graham are members of the National Income Division,
Office of Business Economics.
10
This article continues the series of reports on State income
payments which have been published annually in the
SURVEY. It presents State estimates of total and per
capita income payments for 1947. Also included are revisions of the estimates of total income payments for 1946
which were published last year. The revisions represent
the incorporation of better and more complete statistical
data. To take account of recent revisions of the State
estimates of population made by the Bureau of the Census,
the estimates of per capita income have been revised back
through 1941. For convenience, the estimates of both
total income and per capita income are published here for
all years of the 1929-47 period. They are shown in tables
6 and 7, respectively.
The text of this article is devoted principally to an analysis
of the changes in State income payments that have occurred
since the war. An article scheduled for publication in the
September issue of the SURVEY will cover the long-term,
trends.
The subject matter of the present analysis is mainly
threefold: (1) the factors underlying changes in the State
distribution of income from 1946 to 1947; (2) the nature of
developments indicated by a comparison of the State distributions of income payments in 1944 and 1947; and (3) the
significance of these recent-period changes in State income
payments. The discussion of these topics is restricted to
brief compass, but a number of statistical tables are presented to facilitate more detailed analysis.
The appended section on Technical Notes contains a brief
statement defining State income payments and outlining the
general methodology and sources of data used in the preparation of the State income estimates. Particular attention
is called to the explanation of the status of the State-incomepayments series in relation to the new national-income-andproduct series published in the special National Income
Supplement to the July 1947 SURVEY and in the July 1948
SURVEY.
State Income Changes From
1946 to 1947
Data in table 1 reveal marked differences among the States
and regions in respect to percentage change in total income
payments from 1946 to 1947. Particularly to be noted, in
relation to the Nation-wide income rise of 11 percent, are the
strikingly large income gains (from 16 to 43 percent) scored
by several of the Northwestern and Southwestern States.
Wide differences among the States in rate of change in
agricultural income were the principal factor underlying
changes in the State distribution of income from 1946 to
1947. In comparison with a 9-percent rise nationally, farm
income increased by one-half in the Southwest and more
than one-third in the Northwest. But in the Central States,
SUKVEY OF CUREENT BUSINESS
August 1948
far West, and Middle East, agricultural income declined frojr>
1946 to 1947.
These regional data, moreover, conceal the extremely wide
State-by-State differences in the 1946-47 relative changes
in farm income. In the Northwest, for example, farm income
expanded about two-thirds in North Dakota, Kansas, and
Colorado but showed no increase in Nebraska. In the
Southeast, the regional farm-income rise of 7 percent from
1946 to 1947 was a composite of such sharply differing
changes as Mississippi's increase of one-half, Alabama's
increase of one-fifth, and actual declines in Arkansas, Florida,
and the Carolinas. In the important farm States of Iowa,
Missouri, and California, farm income in 1947 was appreciably lower than in 1946.
Following are the main developments reflected by the wide
geographic differences in rates of change in farm income from
1946 to 1947:
1. There was a sharp increase (nearly two-fifths) in cotton
production over the small 1946 crop. Cotton production
increased in most Southern States last year, with exceptionally large gains occurring in Texas and Mississippi. On
the other hand, there were declines in Arkansas and South
Carolina.
2. The value of wheat production in 1947 was nearly half
again as large as in 1946. The volume of wheat produced
substantially exceeded the previous record crop of 1946,
while wheat prices received by farmers advanced sharply
over the 1946 average. Expanded value of wheat production was the main factor swelling farmers' net incomes
throughout the Northwestern region, particularly in Kansas,
11
North Dakota, South Dakota, and Colorado. But it was of
considerable importance also in certain States outside the
Northwest, notably the large wheat-producing States of
Texas and Oklahoma.
3. Because of adverse weather conditions, the 1947 corn
crop was one-fourth smaller than the record crop of 1946.
With an increase of about one-half in average prices received
by farmers, the value of the Nation's corn production in
1947 was 7 percent above the previous year. However, the
value of last year's output was one-fifth smaller in Iowa,
slightly smaller in Missouri and Nebraska, and no larger in
South Dakota.
4. Farm production of meat animals in 1947 was little
changed from 1946. Prices, however, moved up sharply
after the removal of price controls in 1946 and for 1947
averaged one-third higher than in the previous year. The
influence of higher meat-animal prices on farmers' aggregate
net income was greatest, of course, in the Central and Northwestern States. In a number of them, but mainly Iowa and
Missouri, expanded income from the production of meat
animals served as a partial offset to the reduction in income
stemming from sharply decreased corn production.
5. There were numerous developments having a more
localized effect on net farm income in 1947 than those
sketched above. Brief mention may be made of the large
drop in fruit prices from 1946 to 1947, which substantially
reduced agricultural income in California and Florida, and
of the sizable declines in the value of tobacco production in
North Carolina and South Carolina.
Per Capita Income Payments to Individuals, 1947
$1,449
$1,542
$1,646
$1,465
$1,624 CXC.
H H
•1,500 AND OVER
Bjgggjl $1,250 TO $1,499
£2^2 • U 0 0 0
T0
•1.249
[ I H U UNDER $1,000
UNITED STATES $1,323
U. S. DEPARTMENT OF COMMERCE, OFFICE OF BUSINESS ECONOMICS.
Source of data: U. S. Department of Commerce, Office of Business Economics.
SUEVEY OF CURRENT BUSINESS
12
August 1948
Table 1.—Percent Distribution of, and Relative Changes in, Total Income Payments, by States and Regions, Selected Years, 1929-47 l
Percent change
Percent distribution
State and region
1929
Continental United StatesNew England
Connecticut
Maine
Massachusetts
New Hampshire
Rhode Island
Vermont
Middle East
Delaware
District of ColumbiaMaryland
New Jersey
New York
Pennsylvania
West Virginia
Southeast
Alabama
Arkansas
Florida
Georgia
Kentucky
Louisiana
Mississippi
North Carolina
South Carolina
Tennessee
Virginia
Southwest
Arizona
New Mexico
Oklahoma
Texas
Central
Illinois
Indiana
Iowa
Michigan
Minnesota
Missouri
Ohio
Wisconsin
Northwest
Colorado
Idaho
Kansas
Montana
Nebraska
North Dakota
South Dakota
Utah
+
Wyoming
Far West
; Californiai Nevada
f Oregon
I Washington
1940
1944
100. 00
100. 00
8.22
1.77
.54
4.58
.37
.70
.26
33.70
.26
.77
1.34
3. 96
17. 53
8.88
.96
10. 51
.97
.68
.84
1. 16
1. 17
1.04
.66
1.17
.53
1.10
1.19
5.03
.30
.19
1.31
3.23
29.32
8.52
2.27
1.63
4.29
1.75
2.67
5.95
2.24
4. 75
.77
.28
1.20
.39
.92
.32
.35
.33
.19
8.47
6.31
.09
.73
1.34
8.07
1.87
.57
4.36
.35
.67
.25
32.06
.31
1.19
1.61
4.14
15.60
8.21
1.00
11.92
1.00
.65
1.19
1.30
1.16
1.12
.58
1.49
.72
1.22
1.49
5.15
.31
.25
1.09
3.50
28. 56
7.57
2.45
1.63
4.51
1.88
2.52
5.86
2.14
4.44
.78
.31
1.00
.42
.75
.31
.32
.35
.20
9.80
7.39
.12
.84
1.45
100. 00
7.08
1.79
.57
3.60
.28
.64
.20
27.77
27
LOO
1.68
3. 83
12.76
7. 33
.90
14. 20
1.28
.74
1.57
1.55
1.21
1.32
.79
1.66
.84
1.51
1.71
6.11
.38
.28
1.20
4.25
27. 64
6.79
2.60
1.45
4.74
1.59
2.39
5.90
2.18
4.95
. 76
.35
1.30
.35
.86
.37
. 36
.42
.18
12. 25
8.91
.14
1.08
2.12
1940 to 1947 1944 to 1947 1944 to 1946 1946 to 1947
1946
100. 00
100. 00
7.05
1.69
.54
3.69
.32
.59
.22
28.49
.25
1.02
1.59
3.64
13. 60
7.43
.96
13. 79
1.22
.78
1.44
1.48
1.27
1.19
.70
1.77
.82
1.49
1.63
5.80
.37
.29
1.11
4.03
28.08
7.08
2.57
1.72
4. 35
1.82
2.55
5.76
2.23
4.95
.82
.35
1.16
.39
.86
.37
.39
.41
.20
11.84
8.86
.14
1.02
1.82
6.95
1.74
.53
3.53
.32
.60
.23
28.42
.25
.95
1.55
3.55
13.50
7.60
1.02
13. 56
1.25
.72
1.36
1.46
1.25
1.20
.73
1.72
.80
1.49
1.58
6.03
.38
.30
1.12
4.23
28. 30
7.19
2.60
1.56
4.55
1.82
2.46
5.83
2.29
5.35
.89
.36
1.33
.42
.84
.48
.41
.41
.21
11.39
8.51
.13
1.02
1.73
+150
+115
+133
+132
+103
+128
+122
+132
+122
+100
+98
+140
+115
+117
+132
+155
+184
+211
+175
+186
+182
+169
+168
+211
+191
+178
+205
+165
+193
+204
+203
+156
+202
+148
+138
+166
+140
+152
+142
+144
+149
+168
+202
+188
+192
+234
+150
+179
+283
+222
+192
+158
+191
+188
+178
+206
+199
+25
+13
+23
+22
+16
+23
+46
+18
+42
+28
+19
+19
+16
+16
+33
+30
+42
+20
+22
+21
+9
+17
+30
+13
+16
+31
+20
+24
+15
+24
+24
+37
+17
+25
+29
+33
+26
+35
+21
+43
+29
+24
+32
+36
+48
+28
+28
+52
+22
+63
+42
+22
+46
+17
+20
+24
+18
+13
+6
+6
+16
+31
+6
+26
+16
+8
+15
+8
+21
+15
+21
+10
+8
+19
+4
+7
+19
+2
+1
+20
+11
+12
+8
+7
+8
+17
+5
+7
+15
+18
+12
+35
+4
+30
+21
+10
+16
+13
+22
+13
+2
+27
+14
+14
+21
+10
+25
+10
+13
+16
+3
+7
+11
+14
—9
—6
+12
+12
+ 12
+ 11
+10
—3
—8
H-8
+10
+13
+17
+9
+ 13
+2
+4
+ 10
+9
4-11
+ 15
+9
H-8
+ 11
+ 15
+ 14
+ 17
+ 12
+ 16
+ 12
+13
+ 12
+1
+ 1.6
+ 10
+7
+ 12
+ 14
+20
+21
+14
+26
+20
+8
+43
Si
+16
+6
+7
+10
+5
i Computed from data shown in table 6.
Source: U. S. Department of Commerce, Office of Business Economics.
Changes in Nonagricultural Income
In contrast to the varying geographic movements in farm
income from 1946 to 1947, changes in nonagricultural income
fell within relatively narrow scope. In all seven of the
regions and in nearly three-fourths of the States, income
payments from nonagricultural sources increased from 1946
to 1947 within the range of 8 to 14 percent.
It is thus clear (as summarized for the regions in chart
1) that a very substantial part of the irregularity of geographic income-shifts from 1946 to 1947 can be traced to
farm income. An additional part of the irregularity stemmed
from the differential effects of various types of government
income payments on the State and regional income flows.
For example, the further reduction in military payments
from 1946 to 1947 (from 6 billion dollars to 2 billions on a
national basis) quite significantly dampened the rise of income payments in the Southeastern and Southwestern States.
Moreover, the Nation-wide decline in Federal civilian pay
rolls last year had by no means a uniform effect when translated to a State basis—its substantially depressive influence
on income payments in the District of Columbia furnishing
a singular example. Also included among the more obvious
of the "irregular" governmental income flows are the disbursements in a number of States in either 1946 or 1947 of
State government bonuses to veterans of World War II.
These States are Massachusetts, Connecticut, Rhode Island,
New Hampshire, Vermont, Michigan, and Illinois.
Because of the considerable measure of irregularity in
governmental income flows, the analysis of factors which
underlay changes in the State distribution of income payments from 1946 to 1947 is focused next on the significant
category of private nonagricultural income payments. The
percentage-change data in table 3 relating to this major
segment of income payments eliminate from nonagricultural
income the direct effects of all government income payments.
One of the facts revealed by these data is that in 10 of
the 15 Southern States the 1946-47 rise in income flowing
from private nonfarm sources matched or exceeded the
Nation-wide increase. The less-than-average increases of
these two regions in nonagricultural income are attributable
to the curtailment of military payments.
The remaining columns of data in table 3 measure the
percentage changes from 1946 to 1947 in income payments
flowing from major industrial segments of the private nonfarm economies of each of the States. In general, these
comprehensive measures of changes in regional economic
activity reveal better-than-average performances by the
Central, Northwestern, and Southern regions in 1947 and
below-average performances by the far West and New
England.
SURVEY OF CURRENT BUSINESS
August 1948
13
In view of the far West's long-term upward income trend,
the region's less-than-average gain in 1947 is of particular
interest. With Oregon furnishing a general exception to
the regional pattern, the Far West sustained 1946-47
declines, relative to the national average, in respect to
almost all major categories of income payments.
analysis of State and regional income changes during the
period of transition from war to peace.
The sections immediately following summarize briefly for
each region the principal economic developments since the
war as reflected in the Department of Commerce estimates
of income payments to individuals.
Chart 1.—Percentage Change in Income Payments,
1946 to 1947
Table 2.—Income Payments to Individuals in Continental United
States, 1944-47
[Billions of dollars]
Regional differences in percentage changes from
Item
1946 to 1947 in
TOTAL INCOME
REGION
O
+10
PERCENTAGE CHANGE
+20
+30
+40
+50
UNITED STATES
NORTHWEST
SOUTHWEST
CENTRAL
MIDDLE EAST.
1944
1945
1946
1947
" W a r " manufacturing pay rolls l 2
"Nonwar" manufacturing
pay rolls
Military payments 3
Agricultural income 4
Trade and service income 6__ 6
Veterans' pensions and benefits
Federal civilian pay rolls 7 _ __
All other income
28.2
14.0
11.4
13.4
31.5
.7
7.3
44.7
22.8
14.7
12.8
14.0
35.1
1.4
7.0
47.4
17.8
17.9
6.1
16.8
45.5
4.7
6.0
56.4
21.2
20.9
2.3
18.2
50.6
6.7
5.2
64.6-
Total income payments
Addenda:
Nonagricultural income
Government income payments 8
Nonagricultural private income 8_
151.2
155.2
171.2
189. 7
137.8
26.9
110.9
141.2
30.0
111.2
154.4
28.4
126.0
171.5
27.5
144.0
NEW ENGLAND
SOUTHEAST
FAR WEST
resulted from widely varying regional changes in
FARM INCOME
-10
+ 10
+ 20
+•30
+-40
+ 50
*40 .
+50
UNITED STATES
NORTHWEST
SOUTHWEST
CENTRAL
MIDDLE EAST
NEW ENGLAND
SOUTHEAST
FAR WEST
and less divergent regional changes in
NONFARM INCOME.
+ 20
+ 30
1
"War" manufacturing industries consist of chemicals and allied products, rubber products,
iron and steel and their products, ordnance and accessories, transportation equipment (except automobiles), nonferrous metals and their products, electrical machinery, machinery
(except
electrical), and automobiles and automobile equipment.
2
"Nonwar" manufacturing industries consist of food and kindred products, tobacco manufactures, textile-mill products, apparel and other finished fabric products, lumber and timber
basic products, paper and allied products, printing and publishing, products of petroleum
and coal, leather and leather products, stone, clay, and glass products, and miscellaneous
manufacturing
industries.
3
Include net pay of the armed forces stationed within the continental United States, mustering-out
payments, family-allowance payments, and allotments of pay to individuals.
4
Includes net income of farm operators (including value of change in inventories of crops
and livestock), farm wages, and net rents to landlords living on farms.
«Includes wages and salaries (net of employee contributions to social insurance programs)
and proprietors' income.
• Include pensions and disability compensation, readjustment allowances, self-employment allowances, cash subsistence allowances, State government bonuses to veterans of
World War II, cash terminal-leave payments and redemptions of terminal-leave bonds, adjusted compensation benefits, military retirement payments, and interest payments by
Government
on veterans' loans.
7
Include pay of civilian employees (net of their contributions to retirement funds) in the
Federal
service
in the continental United States.
8
Consist of pay of State and local and of Federal civilian employees, net pay of the armed
forces, family-allowance payments to dependents of enlisted military personnel, voluntary
allotmentsof military pay to individuals, mustering-out payments to discharged servicemen,
interest payments to individuals, public assistance and other direct relief, veterans' pensions
and
benefits (see footnote 6 above), and benefit payments from social insurance funds.
9
Represents nonagricultural income minus Government income payments.
Source: U. S. Department of Commerce, Office of Business Economics.
New England and Middle East
New England.—The 1944-47 expansion of total income in
SOUTHWEST
New England (23 percent) was slightly less than the NationCENTRAL
wide advance (25 percent), but New England's 10 percent
MIDDLE EAST
rise in per capita income, the smallest of any region except
NEW ENGLAND
the Far West, was markedly less than the 16-percent increase
SOUTHEAST
recorded for the country as a whole.
FAR WEST
Massachusetts' slightly below-average gain in total income
from 1944 to 1947 stemmed chiefly from a lag behind the
SS ECONOMICS.
Nation-wide expansion in manufacturing from 1946 to 1947.
The income advance in Massachusetts from 1944 to 1946
Source of data: U. S. Department of Commerce, Office of Business Economics.
exceeded the national average. This was mainly because
the State's large manufacturing industry, which had been
War-to-Postwar Changes
less changed by the war than the manufacturing structures
of most other industrial States, sustained only slight conConsiderable interest and significance attach to a comtraction in the transition period.
parison of the war and postwar geographic distributions of
The less-than-average income advances from 1944 to 1947
income. As essential background for this comparison, table 2
summarizes for the country as a whole changes in the com- in Maine, Connecticut, and Rhode Island are attributable
primarily to the effects of contracted Federal war expendiponents primarily responsible for the marked fluctuations in
tures. These three States were among the 15 States in the
total income payments since the war. The data presented
Nation where income payments during the war were boosted
in table 4 permit analysis by States and regions of the major
changes in the levels and sources of income pa}^ments that most by Federal war expenditures—as measured by the
increase from 1940 to 1944 in the percentage of all income
occurred between 1944 and 1947. Included in the table, it
received from war-industry pay rolls and military payments.
will be noted, are data measuring the relative importance of
"war" and "nonwar" manufacturing pay rolls in the 1944 The contraction of such spending had a considerably morethan-average effect on the postwar income flows of these
income total and the rates at which they changed from
1944 to 1946. These data are requisite information to any States.
UNITED STATES
NORTHWEST
SURVEY OF CUKBENT BUSINESS
14
Table 3.—Percent Changes, 1946 to 1947, in Total Income Payments
and Selected Components, by States and Regions
State and region
Continental United States.
New England
Connecticut
Maine
Massachusetts
New Hampshire
Rhode Island
Vermont
Middle East
Delaware
District of ColumbiaMaryland
New Jersey
New York
Pennsylvania
West Virginia
Southeast..
Alabama
Arkansas
Florida
Georgia
Kentucky
Louisiana
Mississippi
North Carolina..
South Carolina
Tennessee
Virginia
Southwest
Arizona
New Mexico
Oklahoma
Texas..
Central
Illinois
Indiana
Iowa
Michigan
Minnesota.
Missouri
Ohio
Wisconsin
Northwest.
Colorado
Idaho.._
_
Kansas—
--Montana
Nebraska
North Dakota
South Dakota
Utah
Wyoming
Far West
California
Nevada
Oregon
Washington. __
D
rivate
non- Manu- Trade
Total Agricul- Non- Private
and
nonincome tural agricul- agricul- bgricul- factur- service
tural ing pay pay
pay- income1 tural
tural
roll
ments
income income2 pay
rolls
rolls
+11
+9
+11
+14
+15
+17
+13
+9
+5
+5
+9
+14
+10
+6
+12
+12
+12
+11
+11
+3
+8
+9
+11
+14
+18
+9
+12
+5
+8
+8
+10
+10
+4
+12
+12
+11
+7
+9
+13
+13
+8
+9
+14
+13
+13
+15
+17
+12
+10
+13
+15
+13
+14
+16
+12
+15
+11
+16
+16
+10
+16
+12
+14
+13
+10
+13
+12
+14
+14
+14
+10
+13
+12
+12
+17
+23
+15
+19
+12
+12
+13
+16
+16
+10
+17
+17
+15
+16
+14
+17
+19
+12
+14
+16
+15
+18
+18
+18
+15
+13
+16
+17
+17
+17
+22
+14
+18
+14
+19
+20
+18
+19
+11
+11
+8
+15
+11
+11
+14
+13
+9
+13
+12
+13
+14
+14
+10
+13
+12
+12
+19
+24
+16
+21
+14
+12
+14
+18
+18
+11
+17
+19
+14
+17
+15
+18
+2©
+13
+14
+17
+16
+20
+19
+19
+15
+14
+17
+19
+17
+18
+22
+14
+19
+15
+19
+20
+20
+12
+16
+12
+10
+13
+12
+10
+15
+15
+13
+10
+12
+10
+26
+21
+18
+27
+23
+5
+14
+21
+23
+10
+19
+25
+12
+21
+19
+30
+22
+16
+19
+21
+19
+26
+25
+24
+17
+17
+20
+22
+23
+23
+25
+19
+26
+22
+21
+24
+38
+26
+14
+11
+28
+24
+16
+12
+13
+13
+12
+15
+12
+18
+14
+16
+9
+14
+9
+6
+12
+12
+12
+11
+10
+3
+8
+8
+10
+13
+17
tl
+10
+9
+11
+15
+9
+8
+H
+7
+15
+14
+17
+12
+16
+12
+13
+12
+1
+16
+10
+7
+12
+14
+20
+21
+14
+26
+20
+8
+43
+17
+11
+16
+7
+6
+7
+10
+5
-3
+4
+17
+4
+15
-3
-4
-4
-5
-8
+3
+10
+7
+22
-6
-17
+21
+2
+26
+51
-8
+9
+5
+50
+22
+42
+30
+60
—4
+4
+5
-24
+2
+5
—13
-3
+7
+37
+64
+8
+69
+32
+72
+19
+21
+18
-8
-12
+1
+8
+8
+5
+13
+6
ill
+15
+12
+15
+15
+14
+15
+18
+14
+17
+10
+13
+14
+16
+12
+11
+17
+13
+19
+12
+11
+17
+14
+10
+11
+14
+14
+13
+18
+14
+14
+13
+14
+15
+17
+19
+23
+15
+19
+16
+21
+20
+14
+17
+9
+8
+8
+14
+11
* Includes net income of farm operators (including value of change in inventories of crops
and livestock), farm wages, and net rents to landlors living on farms.
« Consists of total income payments minus agricultural income and government income
payments (see footnote 8 to table 2 for definition of the latter).
Source: U. S. Department of Commerce, Office of Business Economics.
Particularly noteworthy are the large postwar income
advances of New Hampshire and Vermont. In the war
period (from 1940 to 1944) income expansion in these two
States was the smallest in the Nation, but after the war
(from 1944 to 1947) their gains were among the seven largest.
This sharply varying experience of New Hampshire and
Vermont reflects the comparatively limited importance of
war activities as a source of their war-period income growth.
In New Hampshire, it may be noted, "nonwar" manufacturing pay rolls, which advanced sharply after the end of the
war throughout the Nation, formed a very much larger
proportion of 1944 total income than in any other State.
Middle East.—From 1944 to 1947 the Middle East's rise
in total income exceeded the national average and its rise in
per capita income equaled it. These movements were dominated by New York and Pennsylvania, which received about
three-fourths of the region's 1947 total income of 54 billion
dollars. These two States, together with West Virginia,
increased their percentage shares of the Nation's income
payments in the postwar period. In the other four States
of the region, income expansion fell short of the national
average.
August 1948
The improvement in the relative income positions of New
York, Pennsylvania, and West Virginia in the postwar period
is due fundamentally to the less-than-average importance
to them of direct war activities as a source of war-period
income expansion. Although large in actual volume, factory
pay rolls in New York and Pennsylvania expanded during
the war at rates smaller than in any other large industrial
State except Massachusetts.
The smallest 1944-47 income gains in the Middle Eastern
region occurred in New Jersey and Maryland. During the
war income payments in these two States were swelled to an
unusual degree by war-industry pay rolls. New Jersey and
Maryland are the only two States of the region in which
total factory pay rolls in 1947 were of smaller volume than
in 1944.
Southern and Central Regions
Southeast.—Aggregate individual incomes in the Southeast
in 1947, amounting to 25.7 billions, were one-fifth larger
than in 1944. That the postwar income rise of the Southeast was less than the one-fourth increase for the Nation as
a whole can be traced to the decline of Government income
payments in the region. In 1944, Government accounted
for more than one-fourth of all income in the Southeast,
with Federal civilian pay rolls and military payments bulking very large in the total. With the drastic curtailment of
military payments and the significant, though lesser, contraction of Federal civilian pay rolls, total Government
income payments in the region fell 21 percent from 1944 to
1947, in contrast with the 2-percent increase nationally.
Over this period the expansion of private income payments
in the Southeast was of markedly larger-than-average
proportion.
Of considerable importance in the relatively large advance
of private income payments in the Southeast from 1944 to
1947 was a 12-percent increase in factory pay rolls. This
gain, in contrast with small increases or marked declines in
other regions, reflects chiefly the lesser role of heavy industry
in the Southeastern economy. Of the 11 Southeastern
States, only in Florida and Louisiana, where the war-period
expansion of manufacturing was largest, was the 1947 volume
of factory pay rolls smaller than in 1944.
Southwest.—As in the country at large, the dollar total of
income payments in the Southwest last year was one-fourth
larger than in 1944. In this region, only Oklahoma experienced a war-to-postwar income rise significantly less than
the national average.
The central fact about income movements in the Southwest
since the war, relative to the national pattern, concerns the
relatively severe effect on the area's income of the postwar
drop in Federal civilian pay rolls and military payments. In
this region, as in the Southeast, such Federal expenditures
were a major element in the wartime rise of income payments.
From 1944 to 1947, income from all sources other than
government advanced by a markedly larger proportion in
the Southwest than in the country as a whole.
Farm income contributed importantly to the comparatively sharp 1944-47 increase of private income payments in
the region. It does not explain all of the increase, however,
as income from private nonfarm sources advanced at a
moderately higher rate in the Southwest than nationally.
Nearly all of the region's three-fifths expansion in farm income from 1944 to 1947, it may be noted, occurred in the
latter year. As pointed out earlier, farm income in the
Southwest went up 50 percent from 1946 to 1947 chiefly by
virtue of greatly expanded cotton production.
Most of the comprehensive measures of income change
presented in table 4 indicate a distinctly different pattern
between Oklahoma and the other States of the region. In
most of these measures Oklahoma lagged appreciably. In
SUEVEY OF CURRENT BUSINESS
August 1948
15
Table 4.—Selected Components of Total Income Payments, by States and Regions: Percent of Total Income in 1944 and Percent Change,
1944 to 1947
State a n d region
Government
income
payments l
Continental Unites States
17. S
New England
Connecticut
Maine
Massachusetts
New Hampshire
Rhode Island
Vermont
Middle East
Delaware
District of ColumbiaMaryland
New Jersey
New York
Pennsylvania
West Virginia
Southeast
Alabama
Arkansas
Florida
Georgia
Kentucky
Louisiana
Mississippi
North Carolina
South Carolina
Tennessee
Virginia
Southwest
Arizona
New Mexico
Oklahoma
Texas...
Central
Illinois
Indiana
Iowa
Michigan
Minnesota
Missouri
Ohio
Wisconsin
Northwest
Colorado
Idaho
Kansas
Montana
Nebraska
North Dakota
South Dakota
Utah
Wyoming
Far West
California
Nevada
Oregon
Washington
15.8
9.4
20.5
17.6
16.8
20.5
12.3
16.4
11.7
54.2
20.0
13.8
14.9
14.7
14.7
26.7
23.9
25.3
33.2
27.9
20.2
25.6
29.7
22.8
33.2
18.8
34.0
25.2
29.6
34.9
25.2
24.2
12.8
13.7
12.2
13.4
10.9
13.6
16.2
12.3
10.9
19.8
24.5
22.8
18.1
15.9
19.3
10.8
16.7
28.8
21.5
18.4
18.6
28.1
12.8
19.8
Manufacturing pay rolls
Agricultural
income 2
2.4
2.0
7.5
1.4
4.2
.8
13.1
2.2
7.9
3.5
1.6
1.9
2.6
4.8
15.4
13.4
26.3
11.5
12.7
18.8
9.8
27.7
22.2
17.1
12.3
10.2
14.8
14.0
19.9
17.9
13.9
9.0
6.0
9.2
31.0
4.7
19.7
12.3
4.4
14.1
27.7
14.4
32.7
23.2
31.2
29.2
57.8
47.4
12.8
22.3
9.2
8.6
8.2
11.6
10.3
Trade
and
service 3
income
Total
"War"
industries 4
"Nonwar"
indus-5
tries
Total
income
payments
21.0
28.2
18. £
9.4
+25
19.7
16.7
18.9
21.3
22.1
18.4
19.8
22.6
16.2
23.2
19.9
18.2
26.4
19.6
16.9
19.2
18.6
20.4
22.2
20.4
18.6
20.2
17.2
17.0
17.3
19.8
18.7
20.5
21.1
18.7
20.2
20.6
20.1
22.1
18.2
19.3
18.2
22.0
23.6
18.8
19.3
18.6
21.8
17.4
16.6
18.6
19.9
17.0
18.3
19.1
17.8
23.2
24.1
21.2
21.4
20.2
37.3
47.1
33.4
34.0
32.6
37.4
27.6
30.5
35.6
2.3
31.1
43.3
27.3
34.0
20.7
18.0
23.5
10.0
12.7
21.6
15.2
18.8
11.6
22.8
19.4
20.9
15.3
14.3
10.1
2.9
13.1
15.8
36.1
32.4
40.9
15.5
50.1
20.8
23.6
41.6
35.4
10.7
10.1
6.3
19.5
6.6
11.1
1.8
3.4
7.9
4.6
25.5
24.3
8.4
32.3
28.7
23.7
39.3
16.3
19.6
6.0
21.1
12.7
18.8
29.2
.1
23.5
31.5
13.2
23.5
13.0
8.3
15.2
3.0
8.2
9.5
8.6
10.3
4.6
4.7
1.3
12.3
7.8
9.2
6.9
1.2
8.6
10.1
27.4
21.7
32.7
8.1
44.5
11.4
13.5
34.1
24.0
6.3
5.4
.5
14.6
2.6
5.9
.1
.4
3.9
.1
18.8
18.6
7.1
19.2
20.4
13.6
7.8
17.1
14.4
26.6
16.3
14.9
11.7
6.4
2.2
7.6
11.8
14.1
10.5
7.7
9.7
8.3
7.0
4.5
12.1
6.6
8.5
7.0
18.1
18.1
8.6
7.5
5.1
3.2
1.7
4.5
5.7
8.7
10.7
8.2
7.4
5.6
9.4
10.1
7.5
11.4
4.4
4.7
5.8
4.9
4.0
5.2
1.7
3.0
4.0
4.5
6.7
5.7
1.3
13.1
8.3
+23
+22
+16
+23
+46
+18
+42
+28
+19
+19
+16
+16
+33
+30
+42
+20
+22
+21
+9
+17
+30
+13
+16
+31
+20
+24
+15
+24
+24
+37
+17
+25
+29
+33
+26
+35
+21
+43
+29
+24
+32
+36
+48
+28
+28
+52
+22
+63
+42
+22
+46
+17
+20
+24
+18
+3
1
Consists of all income p a y m e n t s to individuals b y t h e Federal G o v e r n m e n t , State a n d
local governments, a n d social insurance funds. F o r specific composition, see footnote 8,
table 2.
2
Includes n e t income of farm operators (including value of change in inventories of crops
a n d livestock), farm wages, a n d net rents to landlords living on farms.
3
Includes wages a n d salaries a n d proprietors' income.
4
" W a r " m a n u f a c t u r i n g industries consist of chemicals a n d allied p r o d u c t s , r u b b e r ropducts, iron a n d steel a n d their p r o d u c t s , ordnance a n d accessories, t r a n s p o r t a t i o n e q u i p m e n t
(except automobiles), nonferrous metals a n d their products, electrical m a c h i n e r y , m a c h i n e r y
(except electrical), a n d automobiles a n d automobile e q u i p m e n t .
5
" N o n w a r " m a n u f a c t u r i n g industries consist of food a n d k i n d r e d products, tobacco m a n u -
New Mexico, where there is little heavy industry but where
wartime military payments were large, the relative increase
in private income from 1944 to 1947 was the largest of any
State in the country.
Central States.—Total income payments in the Central
region expanded from about 42 billion dollars in 1944 to
nearly 54 billions in 1947. This increase was larger than
that for the country as a whole—29 percent as compared
with 25 percent. This difference can be explained in terms
of government income payments. As shown in table 4, the
1944-47 increase of private income in the Central region was
of slightly less-than-average proportion.
The more specific fact in this regard is that the region's
income rise after the war was "depressed" relatively little
by the contraction of military payments and Federal civilian
pay rolls. During the war such Federal outlays had pro
Percent change,
1944 to 1946
Percent change, 1944 to 1947
Percent of total income payments in 1944
Government
income
payments ]
+8
+42
-8
+1
+•21
+47
+10
-3
+1
+9
+13
+13
+25
-21
-9
-17
~35
-27
+1
-28
-24
-13
-34
+9
-27
-18
-20
-23
-8
-20
+26
+19
+7
+31
+56
+48
+14
+16
+34
?
-24
-1
+29
-8
+63
+11
-15
-9
+2
+2
-39
+27
Private
income
payments 6
"NonPrivate
Trade ManufaC' "War"
war"
manufac- manufacAgricul- nonagriand
turing
turing
tural 2 cultural7 service3 payrolls
turing
payrolls * payrolls 5
income
income
income
+30
+36
+30
+61
-37
+28
+26
+19
+22
+28
+51
+23
+41
+32
+22
+40
+21
+18
+36
+33
+45
+35
+32
+34
+30
+34
+37
+28
+33
+44
+46
+28
+37
+38
+43
+69
+26
+39
+29
+35
+28
+36
+16
+42
+32
+25
+31
+44
+61
+44
+34
+56
+30
+63
+49
+37
+60
+20
+24
+49
+17
+4
+39
+33
+31
+36
+76
+29
+54
+35
+26
+19
+21
+28
+50
+23
+39
+32
+26
+40
+20
+17
+36
+33
+44
+36
+30
+43
+34
+37
+40
+26
+38
+52
+53
+24
+38
+33
+42
+75
+25
+32
+28
+34
+25
+44
+16
+42
+35
+25
+31
+38
+53
+60
+14
+50
+35
+62
+61
+37
+54
+21
+25
+44
+17
+3
+54
+56
+50
+54
+62
+46
+73
+60
+63
+45
+62
+56
+60
+63
+72
+61
+59
+59
+55
+63
+68
+55
+55
+72
+54
+69
+53
+61
+71
+86
+47
+63
+62
+58
+67
+76
+45
+69
+64
+62
+63
+71
+79
+81
+59
+88
+65
+77
+73
+68
+87
+58
+60
+91
+63
+46
-32
-29
-75
-29
+32
+34
+37
+31
+30
+34
+30
+30
+48
+30
+27
+29
+28
+32
+32
+31
+30
+26
+34
+36
+34
+24
+23
+54
+31
+32
+28
+20
+13
+55
+18
+20
+25
+27
+21
+13
+30
+24
+21
+28
+19
+20
+28
+24
+15
+24
+15
+6
+19
+26
+27
+28
+34
+52
+22
+15
-19
+38
+61
+23
+38
+67
+27
+40
+18
+11
+23
+27
+36
+26
+24
+26
+47
+30
+58
+44
+54
+31
+70
+35
+50
+56
+21
+28
+45
+17
+36
+34
+56
+92
+22
+85
+65
+20
+64
+40
+35
+77
+12
+10
+88
+20
+10
+2
+6
+42
+8
+10
+6
+1
+42
-19
-8
+9
+13
+29
+12
+3
+18
-35
(8)
+13
-12
+12
+37
+59
+14
+24
-21
-32
+124
-31
-20
+2
+14
-1
+16
+5
+3
+1
+6
-9
+34
+57
-42
+37
-11
+33
+47
+35
+60
-31
-30
-42
-24
-41
+6
-33
-34
-32
-26
-19
-43
-36
-31
-28
Q
-49
-46
-72
-78
-72
-38
-71
-28
-56
-25
-20
-23
-63
-76
+126
-71
-62
-28
-20
-32
-27
-32
-38
-37
-26
-28
-58
-7
+46
—74
-16
-64
+67
+14
-30
+25
-64
-59
-75
-80
-74
factures, textile-mill products, apparel a n d other finished fabric products, l u m b e r a n d t i m b e r
basic products, paper a n d allied products, p r i n t i n g a n d publishing, products of petroleum
a n d coal, leather a n d leather products, stone, clay, a n d glass products, a n d miscellaneous
manufacturing industries.
6
Represent total income p a y m e n t s to individuals m i n u s government income p a y m e n t s
to individuals.
7
Represents total income p a y m e n t s to individuals m i n u s government income p a y m e n t s
to individuals a n d agricultural income.
8
Less t h a n five-tenths of 1 percent.
Source: U . S. D e p a r t m e n t of Commerce, Office of Business Economics.
vided less impetus to income growth in this area than in
any other, and they formed a comparatively small part of
the region's wartime income total.
The wide differences among the individual Central States
in rate of increase in income payments from 1944 to 1947
stemmed very largely from the basic differences in their
economic structures. Gains were smallest in the important
war-production States of Michigan, Ohio, and Indiana.
But in Minnesota, Iowa, Wisconsin, and Missouri total
income advanced at above-average rates after the war
because of substantial increases in farm income and the
comparatively lesser impact of war-industry contraction.
Northwest and Far West
Northwest.—From 1944 to 1947 total income payments advanced at a higher rate in the Northwest than in any other
SUEVEY OF CUEEEXT BUSINESS
16
region. Accompanying this top-ranking advance in total
income was an increase in total population that was small
relative to the Nation-wide rate. The region's relative
gain in per capita income, therefore, was even larger than
its gain in total income. The 29-percent increase in per
capita income of the Northwest exceeded by a wide margin
the 16-percent increase nationally. The six States in the
Nation scoring the largest percentage increases in per capita
income from 1944 to 1947 are all located in the Northwest—
North Dakota, Wyoming, Colorado, Montana, Idaho, and
South Dakota.
There were two main factors in these impressive 1944-47
gains of the Northwest. The first is the large expansion
(56 percent) in farm income, which constitutes a far greater
proportion of total income than in any other region. Most
of this expansion occurred in 1947. Important, in this connection, is the fact that the Northwest's relative gain in total
income from 1944 to 1947 was a product of developments in
the latter year. From 1944 to 1946 income payments in the
Northwest moved up at a rate equal to that for the Nation.
The second principal factor in the Northwest's substantial
gains since 1944 is simply that the impact of war-industry
contraction there was the lightest of any region. It was
restricted, in fact, largely to Kansas, where war-industry
pay rolls (mostly in aircraft production) expanded fivefold
from 1940 to 1944 and then dropped to one-fourth the wartime volume by 1946.
Far West.—The increase from 1944 to 1947 of one-sixth
in income payments in the far West, from 18.5 billions to
21.6 billions, was the smallest of any region. But an appraisal of this must center on the fact that the war had
provided a greater stimulus to income growth in the far
West than in any other section of the country. The effects
of readjustments after the war on income payments were
therefore unusually large in the far West. The contraction
after VJ-day of manufacturing industries in the "war"
classification was at a much larger rate in this area than
nationally (see table 4). These generalizations apply with
particular force to Washington, where a tremendous spurt
of war production had generated a rate of total-income expansion from 1940 to 1944 exceeding that of any other State
in the country.
Whereas on a national basis total factory pay rolls were
approximately as large in 1947 as in 1944, they were onethird below the wartime level in the far West. But, it is'
important to note, the region's amount of such pay rolls
last year was two and one-fourth times larger than the
prewar 1940 total, as compared with an increase of one and
three-fourths for the country as a whole.
Significance of Recent Income Changes
The recent-period changes in income payments summarized
in the tables and text of this article are relevant for certain
types of marketing analysis and for a variety of other purposes for which the State income-payments estimates are
used. A principal fact to be emphasized is that these changes
should not be viewed as measures of "trend" and have limited
significance in that connection. By "trend," reference is
made to the long-term, "basic" tendency of income in the
various States and regions to grow or decline in relation to
the Nation—the measurement of which is essential to any
analysis of the probable general nature of future, longer-run
changes in the geographic distribution of income.
The State changes in total and per capita income payments
that have occurred since the war furnish, in themselves, little
guide as to what may be expected for the future. This is
because these changes resulted chiefly from such temporary,
short-run factors as contraction of war industry, demobilization of the armed forces, and sharp year-to-year fluctuations
August 1948
in the State distribution of farm income. Farm income is
included in the category of short-run factors because its
pronounced fluctuations since 1944, particularly on a geographic basis, reflect the special influences of weather and
of differential price advances stemming from the removal of
price controls and the critical demand for food.
These generalizations might be amplified in terms of the
foregoing brief summaries of the main changes in State income payments that occurred from 1946 to 1947 and from
1944 to 1947.
It was observed first that variations in the State distribution of income from 1946 to 1947 resulted in large measure
from widely different changes in farm income. These
changes reflected such influences as a large increase in cotton
production over the poor 1946 crop; the unprecedented need
abroad for grain and the attainment, under generally favorable growing conditions, of a record crop of wheat; a drop
in corn production because of adverse weatner conditions:
and the particularly marked advance in prices of food grains
and meat animals. In addition to these short-run influences,
the further decline in military payments was found to have
had a significant effect on regional income movements from
1946 to 1947.
While it might, theoretically, be possible to develop some
trend significance through a process of detailed analysis of
the 1946-47 changes in the various sources of income payments, adequate analysis is not possible in the absence of
requisite data on manufacturing pay rolls and employment,
Such data are not available for individual types of manufacturing industries for 1947 on a basis comparable to that for
1946 and earlier years. For the compilation of the 1947
wage and employment data reported by employers to State
unemployment compensation agencies, the Social Security
Administration adopted the new Standard Industrial Classification for manufacturing industries. This classification
destroys comparability with past statistics for a number of
the important industry groups. Without detailed, comparable data for manufacturing, it is not possible to evaluate
the importance of regional differences in respect to reconversion from war production as a factor in the 1946-47 changes
in income payments. It cannot be ascertained, for example,
to what extent the above-average rates of increase in all
manufacturing pay rolls in industrial States such as Michigan,
Indiana, and Ohio may represent simply an advance over
1946 reconversion lows in the heavy industries.
Evaluation of 1944 to 1947 Changes
With regard also to the changes in State income payments
from 1944 to 1947, evaluation must start with the recognition that they are not significant as measures of trend.
Rather they reflect the complex interplay of numerous shortrun elements since the war which, throughout the Nation,
have substantially changed the composition of income payments and which mask the effects of underlying trend elements. It is not particularly significant, therefore, that
income payments rose at less-than-average rates from 1944
to 1947 in the far West, Southeast, and Southwest. Over
the 1940-44 period, when the upsurge of total income in
these regions far outpaced the national average, the stimulus
to income growth provided by the war was greatest in these
areas. Hence, the impact of readjustment from war to peace
on the income flows of the far West, Southeast, and Southwest was comparatively severe.
What is significant, however, and of striking importance,
is that income expanded in each of these three regions after
the end of the war at a rate not far below that for the country as a whole. Since 1944 the far West, Southeast, and
Southwest have retained and carried into the second full
postwar year most of the substantial relative gains in total
income which they achieved during the war. On the other
SURVEY OF CURRENT BUSINESS
August 1948
hand, New England has recouped none and the Middle East
only a small part of their war-period relative losses. These
developments are summarized in chart 2, which depicts also
the large relative increase after the war in the percentage of
the Nation's income received by the Northwest and the
comparatively slight change in the share received by the
Central region.
Table 5.—Differentials and Relative Changes in Per Capita Income
Payments, by States and Regions, Selected Years, 1929-47 1
Percent of national per capita
income
Percent change
State and region
1929
Continental United
States
New England
Connecticut
Maine
Massachusetts
New Hampshire
Rhode Island
Vermont
Middle East
Delaware
District of Columbia
Maryland
New Jersey
New York
Pennsylvania
West Virginia
Southeast
Alabama
Arkansas
Florida
Georgia
Kentucky
Louisiana
Mississippi
North Carolina
South Carolina
Tennessee
Virginia
Southwest
Arizona
New Mexico
Oklahoma
Texas
Central
Illinois
Indiana
Iowa
Michigan
Minnesota
Missouri
Ohio
Wisconsin
Northwest
Colorado
Idaho
Kansas
Montana
Nebraska
North Dakota
South Dakota
Utah
Wyoming
Par West
California
Nevada
Oregon
Washington
1940 1944 1946
19471929 to
100
100
100
100
-15
123
135
83
132
96
125
88
136
135
126
144
89
133
95
124
91
131
156
114
136
95
114
78
117
85
117
129
112
124
87
115
89
113
90
118
127
109
126
85
110
87
115
89
118
124
-13
-10
-10
-15
-16
-16
-13
-19
-2
175
103
139
165
113
68
51
45
45
71
48
55
61
40
45
37
51
62
68
84
56
67
68
106
137
6
80
110
83
90
110
93
79
91
76
78
89
82
57
61
79
101
127
139
120
94
105
188
124
140
150
109
69
56
47
44
82
55
54
62
35
55
50
55
78
69
82
62
62
72
105
126
94
84
113
113
117
126
131
103
127
111
119
136
103
74
67
61
58
123
111
117
135
104
78
67
63
54
83
67
64
67
50
67
59
112
90
79
91
77
73
100
75
64
65
83
105
130
140
145
101
110
53
90
67
61
71
47
61
57
70
83
81
85
71
76
83
105
118
99
81
117
81
87
114
98
93
91
85
96
102
92
95
89
92
90
132
136
122
109
133
64
66
47
67
60
70
80
78
86
76
68
81
105
124
96
95
104
91
93
108
100
95
100
115
95
98
99
89
104
123
130
146
101
109
+1
-15
-23
-18
-14
-6
-12
-12
-3
-4
-17
-14
-26
+2
+13
-9
+7
82
85
80
70
85
105
123
97
86
108
90
90
109
101
104
112
98
99
124
94
127
102
91
111
118
124
139
95
105
-14
-17
-8
-22
-11
-16
-22
-11
-13
-10
-17
-14
-19
-15
-15
-15
-21
-22
-10
-11
-12
—13
-15
+2
-10
—11
1940 to 1944 t o
1947
1947
1946 t o
1947
+16
+9
+10
+8
+3
+11
+28
+13
+22
+16
+12
+25
+10
+7
+19
+16
+30
+17
+18
+17
+8
+16
+23
+10
+22
+28
+19
+15
+13
+17
+15
+30
+7
+19
+16
+20
+14
+23
+7
+29
+21
+11
+19
+29
+42
+33
+20
+41
+18
+54
+32
+14
+43
+3
+5
+31
()
"1
+130
+99
+102
+122
+89
+110
+113
+127
+107
+84
+50
+105
+92
+106
+118
+159
+174
+212
+182
+134
+181
+176
+150
+226
+182
+172
+189
+136
+171
+137
+196
+161
+173
+130
+124
+138
+136
+119
+135
+137
+124
+159
+202
+183
+193
+212
+186
+186
+356
+259
+152
+143
+108
+104
+120
+116
+121
+4
+7
+11
+8
+9
+7
+5
+9
+7
+8
+10
tt
+2
+11
+9
+11
+15
+10
+6
+8
+10
+15
+7
+14
+13
+15
+9
+8
+10
-1
+12
+8
+6
+10
+11
+19
+22
+14
+24
+18
+8
+42
+12
+12
+16
+4
+4
+4
+3
+5
1
Computed from data shown in table 7.
2 Increase of less thanfive-tenthsof 1 percent.
Source: U. S. Department of Commerce, Office of Business Economics.
The chart measures the percentage change in each region's
percent of the Nation's total income from 1940 to 1944 and
from 1940 to 1947. This is a convenient method of showing
income changes, relative to the national average, for regions
which differ widely in size, as shown in table 6. These wide
absolute differences, however, should be borne in mind in
interpreting the chart.
The fact that after the war the far West, Southeast, and
Southwest retained most of their war-period relative income
gains is evidence of considerable strength in their postwar
income flows. This strength contributed materially to these
regions' long-term upward income trends. However, for the
far West, some possibility of developing weaknesses—as
distinguished from short-run factors such as merely further
17
readjustment from war-inflated levels—might be suggested
by the region's below-average income gains in 1947. In this
area, particularly California, increases in income were considerably less than the national average for most components
of private nonagricultural income payments.
This article has dealt largely with State and regional
income changes, measured in percentage terms. For market
analysis, however, the wide geographic variations in amounts
of total income will not be overlooked. As shown in table 1,
the Eastern States comprising the Middle East and New
England regions received more than one-third of the Nation's
income payments in 1947, and are principal centers of population and production. The large Central region accounted
for 28 percent of all income last year, whereas the 13 States
included in the Southwestern and Northwestern regions received only slightly more than one-tenth of total income
payments.
Chart 2.—Percentage Change in the Proportion of Total
U. S. Income Payments Received by Each Region,
1940 to 1944 and 1940 to 1947
-20
-10
1
PERCENTAGE CHANGE
O
+10
+20
I
+30
1
I""
||^
|||||||||||P^^
«|||||||M
FAR WEST
SOUTHWEST
SOUTHEAST
••
NORTHWEST
H| CENTRAL
NEW
ENGLAND
MIDDLE
EAST
^§||||||||||
I
I
0
•:::0^::;
i
IS, $, DEPARTMENT OF COMMERCE, OFFICE OF BUSINESS ECONOMICS.
Source of data: U. S. Department of Commerce, Office of Business Economics.
Technical Notes
1. Scope of State Income Work.—The work of the Department of Commerce in the field of geographic income
measurement is limited to the preparation of estimates of
income payments to individuals by States. Largely because
of t\e lack of requisite data, State estimates have not been
prepared on national income or gross national product.
Regional estimates of disposable income were published for
selected years in the August 1947 SURVEY, but it has not
been possible to develop reliable measures of disposable
income by States because of several statistical incomparabilities between the State data on income payments and
the available State data on taxes.
Official income estimates are not available for counties
and other local areas. Apart from the fact that the estimation of income for local areas would be a large and
expensive job, much of the information required does not
exist or is not available in Washington.
SUEVEY OF CURRENT BUSINESS
18
August 1948
Table 6.—Total Income Payments to Individuals, by States and Regions, 1929-47
[Millions of dollars]
State and region
1929
ContinentalUnited States. 82,617
1930 1931 1932 1933 1934 1935 1936 1937 1938 1939 1940 1941 1942 1943 1944 1945 1946
73, 325 61,971
47, 432 46,273
53,038
58, 558 68,000
72,211
New England
5,673
5,900
6,792 6,282 5,623 4,481 4,264 4,678 5,031
Connecticut
888
1,096
1,267
1,356
1,459
1,337
1,178
911
1,000
Maine
297
353
398
408
449
432
381
298
323
Massachusetts
2,757 3,093 3,193
3,787 3,512 3,156
2,555 2,386 2,593
New Hampshire
241
262
272
302
279
200
228
259
199
Rhode Island
426
494
579
527
366
391
473
477
385
Vermont
158
177
216
195
127
143
180
172
133
23,481
Middle East
27, 840 25, 609 22,031 17,045 16, 337 18,299 19,577 22,448
205
Delaware
218
182
147
161
192
167
128
127
792
District of 2Columbia2638
644
556
631
763
619
549
495
Maryland 2
1,106
1,036
815
871
927
743
1,000 1,067
720
2,835
New Jersey
3,268 3,081
2,197 2,361
2,713 2,151
2,690
1,985
14, 479 13,346 11, 435 8,840 8,509 9,369 9,941 11,246 11,635
New York 2
7,338 6,638 5,580 4,172 4,027 4,627 4,989
5,818 6,174
Pennsylvania
793
682
588
623
773
739
462
474
590
West Virginia
8,681
7,127
6,064 4,979 5,136 6,354 6,976 8,132 8,457
Southeast
802
585
617
537
711
419
699
512
419
Alabama
389
562
393
342
479
287
332
288
470
Arkansas
584
695
635
516
773
439
546
425
711
Florida
800
798
735
920
956
560
667
596
907
Georgia
713
794
902
964
530
636
679
534
847
Kentucky
641
725
792
862
499
595
487
748
640
Louisiana
373
442
544
385
256
339
256
463
292
Mississippi
915
1,077
966
812
576
845
677
1,006
690
North Carolina
406
485
438
365
261
378
299
468
314
South Carolina
721
880
905
743
498
661
516
846
622
Tennessee
849
996
987
860
654
770
639
967
770
Virginia2
4,155 3,428
2,788 2,199 2,299 2,623 2,924 3,402 3,804
Southwest
._232
149
245
122
167
202
208
170
120
Arizona
113
177
161
86
131
162
137
116
90
New Mexico __.
583
841
507
666
753
844
1,079
659
537
Oklahoma
1,484
2,668 2,239 1,843
1,552 1,778 1,960 2,285 2,554
Texas
24, 226 20,833 17,185 12,630 12,193 14,139 16, 220 18, 986 20,620
Central
7,036 5,903 4,813 3,517 3,335 3,787 4, 222 4,909 5,395
Illinois
1,713
974
1,877 1,595
1,325
978 1,167 1,312 1,571
Indiana
896
982 1,092
619
606
1,348 1,248
965
644
Iowa
1,816
2,131 2,469 2,926 3,257
3,543
2,940 2,413
1,641
Michigan
1,362
1,083
1,281
839
921
1,443
1,325
1,125
812
Minnesota
1,282 1,244 1,380 1,533 1,763 1,824
2,210 1,984 1,688
Missouri
4,920 4,251
3,564
2,610 2,601 3,066 3,447 4,072 4,406
Ohio
1,482 1,571
1,081
1,258
1,292
971
938
1,849 1,587
Wisconsin
1,953 2,250 2,627 3,029 3,238
3,927 3,592 2,824 1,931
Northwest
584
538
404
446
362
358
633
580
478
Colorado
223
201
146
165
112
115
230
204
153
Idaho
724
781
549
622
487
474
730
997
928
Kansas
283
299
212
158
158
250
213
325
264
Montana
534
549
344
374
378
476
578
764
749
Nebraska
197
217
122
126
136
178
160
264
224
North Dakota
196
202
177
118
157
184
199
288
264
South Dakota
224
247
143
143
165
192
195
272
239
Utah
132
136
86
87
103
114
118
154
140
Wyoming
6,454 5,456 4,167 4,091 4,695 5,203 6,330 6,711
Far West
5,217 4,878 4,151
3,182 3,113 3,530 3,904 4,730 5,047
California
74
72
77
46
43
53
62
62
70
Nevada
603
560
580
338
337
404
459
443
524
Oregon
-1,104
1,007
601
708
778
800
982
Washington
6,045
70, 601 75, 852 92,269 116,433 140,021 151,217 155,201 171,200
5,372 5,729
6,124
1,199
1,301
1,417
377
400
431
2,928 3,106
3,309
258
269
268
447
511
480
163
174
187
21,503 22, 783 24, 319
178
203
239
781
905
813
1,074 1,222
1,000
2,859
2,658
3,138
10,759 11,301 11,830
5,438 5,819 6,225
714
760
689
7,904 8,414 9,043
652
681
763
493
456
478
819
900
751
863
901
839
793
828
847
789
444
399
436
1,011
1,131
1,090
545
451
493
927
801
853
1,127
938
996
3,583 3,756
3,908
213
227
237
165
179
190
767
796
829
2,438 2,554 2,652
18, 378 20,090 21,664
4,833 5,285 5,740
1,522 1,688 1,858
1,068 1,185
1,233
2,705 3,054 3,425
1,304 1,378 1,424
1,708 1,832 1,914
3,794 3,154 4,448
1,443 3,514 1,622
2,974 3,099 3,363
563
526
589
213
207
232
692
690
757
288
271
321
523
509
569
209
196
237
227
208
242
243
235
265
141
132
151
6,730 7,431
6,331
4,772 5,047 5,606
84
92
69
587
633
540
1,012
1,100
950
7,367
1,837
505
3,846
309
651
219
28, 203
278
1,040
1,516
3,676
13,384
7,404
905
11, 580
1,037
658
1,062
1,241
1,042
1,066
630
1,436
703
1,221
1,484
4,734
287
222
956
3,269
26,800
6,889
2,437
1,527
4,271
1,626
2,363
5,646
2,041
4,109
695
278
974
372
655
331
301
329
174
9,476
7,044
107
824
1,501
8,971
2,341
673
4,528
350
826
253
33,277
315
1,254
2,008
4,552
15,215
8,847
1,086
15, 509
1,428
896
1,452
1,642
1,335
1,411
883
1,864
959
1,528
2,111
6,517
445
299
1,322
4,451
33,147
8,087
3,092
1,994
5,482
2,040
2,920
6,973
2,559
6,086
990
419
1,508
475
1,039
440
472
527
216
12, 926
9,315
207
1,193
2,211
10,235
2,648
857
5,141
378
925
286
38,735
374
1,448
2,409
5,381
17,614
10,270
1,239
19,433
1,780
977
2,105
2,143
1,685
1,874
1,084
2,244
1,140
1,983
2,418
8,528
598
375
1,593
5,962
39,165
9,358
3,725
2,260
6,856
2,271
3, 356
8,349
2,990
6,946
1,137
477
1,768
517
1,162
505
448
687
245
16,979
12,302
211
1,572
2,894
10,711
2,713
864
5,447
419
963
305
41,994
402
1,508
2,536
5,794
19,304
11,085
1,365
21,476
1,943
1,122
2,369
2,373
1,825
2,001
1,188
2,514
1,268
2,276
2,597
9,246
582
420
1,808
6,436
41, 789
1Q, 276
3,928
2,188
7,162
2,411
3,612
8,917
3,295
7,484
1,146
587
1,979
528
1,298
556
547
635
268
18, 517
13,472
206
1,636
3,203
10,860
2,635
847
5,631
460
956
331
43,577
393
1,607
2,501
5,774
20,454
11,376
1,472
22,267
2,021
1,218
2,420
2,445
1,957
1,986
1,205
2,621
1,303
2,443
2,648
9,370
594
448
1,801
6,527
42, 893
10, 695
4,102
2,375
6,799
2,614
3,776
9,114
3,418
7,692
1,271
525
1,908
555
1,333
566
598
649
287
18, 542
13,649
210
1,631
3,052
12,078
2,889
916
6,324
548
1,016
385
48,765
435
1,739
2,728
6,228
23,271
12, 712
1,652
23, 609
2,089
1,334
2,462
2,529
2,173
2,036
1,202
3,023
1,407
2,558
2,796
9,938
631
492
1,897
6,918
48,055
12,101
4,398
2,948
7,443
3,123
4,374
9,851
3,817
8,477
1,398
595
2,009
668
1,478
634
664
696
335
20, 278
15,164
239
1,753
3,122
1947
189,734
13,194
3,299
998
6,718
613
1,133
433
53,938
479
1,795
2, 934
6,740
25, 624
14,426
1,94.0
25, 723
2,371
1,358
2,571
2,778
2,3C4
2,270
1,382
3,280
1,517
2,830
2,962
11, 435
721
57(>
2,124
8,014
53,699
13,636
4,936
2, 963
8, 641
3,450
4, 671
11,061
4,341
10,143
1, 695
677
2, 531:
801
1, 589
90S;
779
773.
390>
21, 602:
16,121
256
1,936
3,289
1 For definition and description see section on "Technical Notes."
2 See note 4 of section of''Technical Notes."
Sources: U. S. Department of Commerce, Office of Business Economics.
2. Revision of State Income Payments.—Detailed statistics
of the national income, national product, and related series
covering the period 1929-46 were published by the Department of Commerce in the special National Income
Supplement to the July 1947 SURVEY OF CURRENT BUSINESS. Extensions of these series to 1947, together with
revisions for the years 1944 to 1946, were published in the
July 1948 issue of the SURVEY. (These publications are
available from the Superintendent of Documents, U. S.
Government Printing Office, Washington 25, D. C , or from
any of the Department of Commerce field offices. The
price of the Supplement is 25 cents and that of the July
1948 SURVEY is 30 cents.)
The estimates published in the National Income Supplement represented a basic revision of the official nationalincome-and-product statistics. As part of this revision, a
number of changes were made in the definition of income
payments to individuals, and the series was renamed "personal income."
Now in preparation is a complete revision of the estimates
of State income payments back to 1929. This revised (really
"new") State income series will conform with the conceptual
and statistical changes introduced into the national estimates of personal income. Because of the considerable
magnitude of the job of preparing State distributions of
personal income and its components annually since 1929, it
is not feasible at this time to set a date for completion of the work.
3. Definition of State Income Payments.—"Income payments to individuals" is a measure of the income received
by residents of each State from business establishments and
governmental agencies. I t comprises income received by
individuals in the form of (1) wages and salaries, after deduction of employees' contributions to social security, railroad retirement, railroad unemployment insurance, and
government retirement programs; (2) proprietors' incomes,
representing the net income of unincorporated establishments (including farms) before owners' withdrawals; (3)
property income, consisting of dividends, interest, and net
rents and royalties; and (4) "other" income, which includes
public assistance and other direct relief; labor-income items
such as work relief, government retirement payments,
veterans' pensions and benefits, workmen's compensation,
and social insurance benefits; mustering-out payments to
discharged servicemen; family-allowance payments and
voluntary allotments of pay to dependents of military personnel; enlisted men's cash terminal-leave payments and
redemptions of terminal-leave bonds; and State government
bonuses to veterans of World War II. Income payments
are distributed among the States on a where-received basis
(with the exception of wages and salaries, as noted below).
Only payments made to residents are included in the estimates for the continental United States and the individual
States.
SURVEY OF CUEEENT BUSINESS
August 1948
19
Table 7.—Per Capita Income Payments by States and Regions, 1929-471
[Dollars]
State and region
1929
1930
Continental United States
596
New England
C onnecticut
Maine
Massachusetts
New Hampshire
Rhode Island
Vermont
Middle East
Delaware
District of ColumbiaMaryland
New Jersey
New York
Pennsylvania
West Virginia
Southeast
Alabama
Arkansas
Florida
Georgia
Kentucky
Louisiana
Mississippi
North Carolina
South Carolina
Tennessee
Virginia
Southwest
Arizona
New Mexico.
Oklahoma
Texas
Central
Illinois
Indiana
Iowa
Michigan
Minnesota
Missouri
Ohio
Wisconsin
Northwest
Colorado
Idaho
Kansas
Montana
Nebraska
North Dakota
South Dakota
Utah
Wyoming
Far West
California
768
830
540
825
599
767
542
841
762
1,179
651
869
1,023
688
393
279
232
211
431
274
303
344
191
255
209
283
367
376
475
322
352
383
612
772
491
504
608
515
546
638
539
487
558
455
498
490
544
329
382
470
619
775
854
761
547
626
Nevada
Oregon
Washington
918
566
897
652
851
601
926
919
1,191
703
947
1,125
767
464
344
305
305
484
329
371
415
273
309
252
349
422
464
573
383
455
465
720
932
583
546
745
566
612
748
634
534
616
518
532
602
557
389
417
537
687
865
946
817
640
713
1931
1932
1934
1935
1936
1937
1938
500
380
368
420
460
531
561
509
725
473
738
551
695
476
717
687
.,088
577
751
871
576
336
235
191
177
363
227
256
299
143
214
178
234
326
303
382
265
275
312
503
626
405
388
503
433
461
532
435
384
455
336
402
393
421
236
289
379
515
642
710
660
455
503
542
558
367
594
422
562
369
552
522
926
460
586
671
429
261
191
155
153
287
189
198
230
125
176
147
185
276
237
271
192
212
248
369
456
296
248
382
320
349
388
325
262
312
241
267
290
251
181
171
276
371
481
533
479
342
474
514
540
364
553
420
533
351
526
513
806
441
535
644
414
265
195
154
152
272
200
199
222
123
205
167
190
266
247
263
196
226
257
355
431
296
258
348
307
337
386
312
265
336
242
258
290
275
190
172
275
369
465
511
447
337
369
561
605
394
597
478
573
397
586
586
876
493
589
705
474
326
239
197
180
325
245
234
269
162
253
209
241
316
279
322
240
246
292
411
488
351
242
455
346
373
453
357
304
376
304
298
387
279
205
232
313
435
524
568
535
399
432
602
659
428
634
502
626
439
623
634
955
524
630
743
510
342
260
213
204
360
264
678
758
480
713
544
691
501
711
750
1,124
597
712
837
594
402
301
253
246
423
298
307
330
218
294
254
302
393
357
425
330
319
369
546
630
468
391
606
473
473
598
484
409
493
406
395
514
399
300
294
419
548
684
734
699
539
579
704
808
490
737
562
714
493
740
795
1,107
635
750
861
629
417
310
256
249
445
301
325
346
207
312
262
311
405
397
482
353
358
409
589
691
508
434
659
500
488
646
510
438
532
444
430
541
412
333
306
459
560
714
769
733
552
597
640
710
450
677
531
639
454
674
682
1,044
594
699
791
553
369
287
233
236
418
280
283
341
185
289
241
280
380
371
436
322
327
387
521
616
449
423
535
474
455
554
466
402
475
406
382
488
384
302
318
434
537
662
714
645
507
558
177
270
222
260
347
309
355
272
281
319
469
543
392
357
524
403
413
507
413
354
412
338
337
455
353
269
273
362
477
571
617
614
447
470
1939
1940
539
575
764
474
719
548
678
483
709
771
1,031
634
746
825
589
378
303
242
246
442
290
297
354
201
308
261
295
402
386
461
341
340
401
565
671
495
468
591
497
486
603
485
418
505
411
383
515
397
325
351
443
567
692
741
767
544
588
725
827
509
766
546
715
521
752
896
1,080
713
803
863
628
398
322
268
252
471
315
308
357
202
316
286
317
450
399
473
356
356
413
605
726
541
485
649
500
505
643
516
454
524
440
422
574
433
36S
376
480
605
750
805
836
579
632
1043
1944
1945
1946
870
1,045
1,145
1,177
1,213
1,323
1,064
1,321
814
1,055
714
1,158
738
1,033
1,167
1,181
1,080
1,130
1,141
907
578
535
507
466
679
514
481
564
385
508
478
522
749
659
749
558
637
666
927
1,025
878
805
1,028
746
749
1,014
843
836
874
801
834
900
831
759
819
881
774
1,168
1,185
1,580
1,028
1,152
1,235
1,508
1,067
1,224
804
1,262
883
1,224
1,380
1,280
1,285
1,329
1,353
1,079
697
667
633
521
910
674
616
735
461
1,307
1,554
1,090
1,309
897
1, 345
971
1,341
1,473
1,298
1,336
1,441
1,499
1,181
795
756
710
607
1,025
764
693
812
542
697
655
797
945
925
977
1,317
1,507
1,060
1,346
979
1,330
1,018
1,392
1,445
1,368
1,331
1,442
1,586
1,213
868
801
751
667
1,059
813
760
831
568
749
1,354
1,510
1,059
1,394
1,075
1,367
1,097
1,436
1,543
1,546
1,345
1,443
1,651
1,244
901
811
739
701
1,082
797
782
803
575
809
732
849
970
944
1,045
920
821
977
1,277
1,501
1,168
1,150
1, 266
1,102
1,134
1,314
1,208
1,156
1,216
1,133
1,082
1,392
1,148
1,183
1, 205
1,076
1,264
1,495
1,574
1,770
1,220
1,326
1,444
1,671
1,128
1,449
1,148
1,521
1,183
1,559
1,646
1,624
1,465
1,542
1,781
1,372
1,031
883
837
710
1,104
885
850
892
659
890
778
916
1,064
1,081
1,120
1,053
930
1,128
1,391
1,624
1,287
1,144
1,424
1,195
1,197
1,441
1,337
1,373
1,482
1,290
1,315
1, 641
1,238
1,678
1,348
1,208
1,472
1,559
1,643
1,842
1,253
1,395
1941
1942
873
1,070
598
889
627
922
620
871
1,018
1,709
847
926
989
750
474
403
367
337
522
389
370
434
276
391
358
411
568
487
538
412
464
496
747
874
700
605
801
583
ei5
818
654
558
606
533
543
670
512
537
493
578
649
907
955
907
722
672
868
816
895
691
697
857
1,113
1,220
1,056
939
1,273
858
886
1, 235
996
953
976
892
975
1,062
914
944
789
1,068
904
1,438
1,469
1,486
1,251
1,422
1,200
1,354
1,132
927
1,334
924
992
1,302
1,120
1,064
1,045
972
1,098
1,163
1,050
1,092
1,024
1,057
1,031
1,517
1,558
1,401
1,252
1,522
972
940
1,046
884
822
974
1,231
1,420
1,179
992
1, 255
997
1,050
1,328
1,165
1,110
1,190
1,040
1,071
1,244
1,085
1,112
1,122
1,078
1,134
1,461
1,508
1,533
1,235
1,399
1947
1
See note 4 of section on Technical Notes.
Source: U. S. Department of Commerce, Office of Business Economics.
4. Per capita income.—Per capita income payments are
derived by division of total income payments by total population excluding Federal civilian and military personnel
stationed outside the continental United States. In five
instances, however, income (included in "total income payments to individuals/' table 6) was transferred from the
place of recipients' employment to place of residence before
computation of per capita income. These are New York and
New Jersey and the District of Columbia, Maryland, and
Virginia. In this connection, it should be noted that the
wage-and-salary component of total income payments is
allocated by States on the basis of State of employment,
rather than of residence. For all States, except the five
listed above, it is assumed that State of employment is
identical with State of residence.
For the years 1929-43 and 1947, population data used in
the derivation of per capita income are the midyear estimates
of the Bureau of the Census of the Department of Commerce.
For the years 1944-46, population totals used are the sum of
the civilian population from the Bureau of the Census and
military personnel, as compiled from monthly or quarterly
data, from the Departments of the Army and Navy.
5. Regional classifications.—The regional classifications
used in the presentation of income payments by States are
adapted from those proposed by Howard W. Odum in
Southern Regions oj the United States (University of North
Carolina Press, Chapel Hill, 1936).
6. Principal sources oj data.—Estimates of total income
payments to individuals for each State are derived as the
summation of a very large number of separately estimated
components. The following statement, which necessarily
omits considerable detail, affords a brief description of the
principal sources of data used in the derivation of State estimates for each of the four broad types of income payments
defined above. Uniform sources and methods are utilized
for all States.
Wages and salaries, which for the Nation are more than
three-fifths of all income, are among the types of income for
which data are most complete and reliable. They are estimated by States in considerable industrial detail. For most
industries they are derived from reports of the Bureau of the
Census and of the Social Security Administration. In the
preparation of estimates for 1939 and subsequent years,,
heavy reliance was placed on wage data compiled by the
Social Security Administration from tabulations by the State
unemployment compensation agencies of reports received
from all covered employers. For each State these tabulations include a summary of the total amount of wages (classified by detailed industry groups) actually paid out by establishments located in the State. The unemployment compensation wage data were supplemented by special tabulations of the Social Security Administration furnishing data
on wages in the very small-sized firms excluded from unemployment insurance coverage by the varying size-of-firm
20
SUEVEY OF CURRENT BUSINESS
provisions of the State laws. These tabulations were compiled from wage data filed by employers under the old age
and survivors insurance program, which includes all-sized
establishments within "covered" employment. Supplementation of the unemployment compensation wage data by the
old age and survivors insurance wage data yields a complete
measure of wages and salaries paid out by all establishments
in "covered" industries. On a Nation-wide basis, wages and
salaries in covered industries in 1947 constituted four-fifths
of all wages and salaries and one-half of all income payments
to individuals.
State estimates of wages and salaries are prepared for
each of the several industries, or types of employment, not
covered by Social Security laws. These include agriculture;
Federal, State, and local government agencies; railroads;
domestic service; and nonprofit religious, charitable, scientific, and educational agencies. Data used in the formulation of estimates for these categories are obtained, for the
most part, from Federal agencies. For example, estimates
of wages paid to hired farm laborers are secured from the
Bureau of Agricultural Economics of the Department of
Agriculture. Wage-and-salary payments by governmental
agencies are based on data supplied by the Civil Service
Commission, Bureau of Labor Statistics of the Department
of Labor, Bureau of the Census, Office of Education of the
Federal Security Agency, and the Departments of the Army
and Navy.
Estimates of government wages and salaries are made
separately for the executive, judicial, legislative, and military branches of the Federal Government, and for the school
and nonschool groups of employees of State and local governments. Pay of the armed forces, net of their contributions to allowances and allotments going to their dependents,
is allocated by States in terms of their State of duty. This
allocation is made separately for each of the four military
services and is based on monthly or quarterly data by States
on numbers of officers and of enlisted personnel stationed in
each State and on average rates of pay for the two groups of
personnel.
Proprietors' income may be divided for purposes of this
discussion into net income of farm operators and net income
of nonfarm proprietors. State estimates of the net income
of farm operators are derived by deducting from farmers'
gross income during the calendar year their total expenses of
production. Gross income includes cash income from marketings of crops and livestock, Government payments, the
value of products consumed on the farm, and the value
(positive or negative) of the change in inventories of crops
and livestock. The total of production expenses is a summation of 34 separately estimated items. Data on which the
income and expenditures data are based are those of the
Bureau of Agricultural Economics. The value of change in
inventories, it should be noted, is included in farm proprietors' net income in order to secure a measure of the income
from current production. Also to be noted is that products
consumed on farms are valued at farm prices. For some
August 1948
purposes, particularly those related to "welfare" comparisons, valuation at retail prices might be preferable.
The total net income of proprietors in nonagricultural
industries is prepared by States for each major industry
division. The geographic distribution of these components
of total income payments is based mainly on reports of the
Bureau of the Census, including reports of both the industrial and population censuses. Pending the availability of
more complete information from Census enumerations, yearto-year alterations of the State distributions derived for the
census year 1939 were based for each industry on a relevant
measure such as volume of sales of wage-and-salary payments.
National estimates of dividends, interest, and net rents
and royalties are distributed by States largely on the basis
of tabulations by the Bureau of Internal Revenue of the
amounts of these items reported by individuals on Federal
income-tax returns. There are, however, several important
exceptions to this general procedure. Estimated as separate
components are Federal interest payments to individuals
(for recent years from State data on Series E individuals'
bondholdings, furnished by the Treasury Department) and
the imputed interest paid to individuals by financial intermediaries (based for life insurance companies on life insurancein-force statistics published by the Spectator Company and
for banks on banking pay rolls). Agricultural net rents
received by farmer landlords are also estimated as a separate
component, from data furnished by the Bureau of Agricultural Economics.
For most of the numerous individual components of the
category of "other" income payments, State and national
data represent actual disbursements, as reported by Federal
agencies. Types of income for which data on disbursements
by States are available from official reports include public
assistance and other relief, retirement and unemployment
insurance benefits under the Social Security and Railroad
Retirement and Railroad Unemployment Insurance programs, benefit payments from State cash sickness compensation funds, and veterans' pensions and benefits. For two
other items of this category—workmen's compensation and
retirement payments by State and local governments—
estimates are supplied by the Social Security Administration
as a product of its studies of social insurance and related
payments. Data on State bonus payments to veterans of
World War II were furnished by the individual State governments. State data on veterans' redemptions of terminalleave bonds were obtained from the Treasury Department.
The Departments of the Army and Navy report disbursements for the country as a whole for mustering-out payments,
military allowances, and enlisted men's cash terminal-leave
payments. Additionally, they supply requisite data for
estimating the amounts of these disbursements received by
residents of the various States. Such data include a tabulation by the War Department of the actual amount of
family allowance payments received in each State during
June 1944, annual data on military separations by State
of residence, and annual data on the number of military
personnel according to State of residence.
SUEVEY OF CURRENT BUSINESS
August 1948
21
Table 8.—State Income Payments, by Type of Payment, 1945-47
[Millions of dollars]
State
United States, total
Wages and salaries
Proprietors' income
Property income
Other income
Alabama, total
Wages and salaries
Proprietors' income
Property income
Other income
Arizona, total
Wages and salaries
Proprietors' income
Property income
Other income
Arkansas, total
Wages and salaries
Proprietors' income
Property income
Other income
California, total
Wages and salaries
Proprietors' income
Property income
Other income
Colorado, total
Wages and salaries
Proprietors' income
Property income
Other income
Connecticut, total
Wages and salaries
Proprietors' income
Property income
Other income
Delaware, total
Wages and salaries
Proprietors' income
Property income
Other income
District of Columbia, total.
Wages and salaries
Proprietors' income
Property income
Other income
Florida, total
Wages and salaries
Proprietors' income
Property income
Other income
Georgia, total
Wages and salaries
Proprietors' income
Property income
Other income
Idaho, total
Wages and salaries
Proprietors' income
Property income
Other income
Illinois, total
Wages and salaries
Proprietors' income
Property income
Other income
Indiana, total
Wages and salaries
Proprietors' income
Property income
Other income
Iowa, total
Wages and salaries
Proprietors' income
Property income
Other income
Kansas, total
Wages and salaries
Proprietors' income
Property income
Other income
Kentucky, total
Wages and salaries
Proprietors' income
Property income
Other income
1945
155, 201
99,158
27, 694
15, 476
12, 873
2,021
1,177
460
122
262
594
368
122
44
60
1,218
571
396
73
178
13, 649
8.919
2,472
1,393
865
1,271
702
300
151
118
2,635
1, 796
236
428
175
393
251
53
65
24
1,607
1,255
99
150
103
2,420
1,533
472
205
210
2,445
1,477
519
167
282
525
264
182
38
41
10, 695
7,126
1,650
1,149
770
4,102
2,547
905
338
312
2,375
1,044
915
221
195
1,908
1,007
569
175
157
1,957
1,016
525
175
241
1946
1947
171, 200 189, 734
105, 967 119,075
38, 709
35,013
17, 500 19, 907
12, 720 12,043
2,371
2,089
1,359
1,167
654
550
149
135
209
237
721
631
425
374
189
155
54
49
53
53
1, 358
1,334
629
575
498
513
91
85
140
161
16,121
15,164
9,420 10,136
3,236
3,228
1,771
1,579
978
937
1,695
1,398
889
789
486
328
194
168
126
113
3,299
2,889
2,192
1,921
348
317
567
490
192
161
479
435
306
271
68
64
85
75
20
25
1,795
1, 739
1, 356
1,321
133
124
193
169
113
125
2,571
2,462
1,550
1,448
562
593
259
229
200
192
2,778
2,529
1,688
1,544
661
566
210
186
219
233
677
595
344
289
246
224
47
42
40
40
13, 636
12,101
9,065
7,951
2,333
2,134
1,458
1,280
780
736
4, 936
4,398
3,096
2,650
1,173
1,083
428
377
288
239
2,963
2,948
1,375
1,186
1,129
1,325
284
251
175
186
2,531
2,009
1,099
970
1,073
702
225
193
134
144
2,364
2,173
1,275
1,120
673
634
222
196
194
223
State
Louisiana, total
Wages and salaries.-.
Proprietors' income..
Property income
Other income
Maine, total
Wages and salaries..
Proprietors' income..
Property income
Other income
Maryland, total
Wages and salaries...
Proprietors' income..
Property income
Other income
Massachusetts, total
Wages and salaries...
Proprietors' income..
Property income
Other income
Michigan, total
Wages and salaries...
Proprietors' income..
Property income
Other income
Minnesota, total
Wages and salaries...
Proprietors' income..
Property income
Other income
Mississippi, total
Wages and salaries...
Proprietors' income..
Property income
Other income
Missouri, total
Wages and salaries...
Proprietors' income..
Property income
Other income
Montana, total
Wages and salaries...
Proprietors' income..
Property income
Other income
Nebraska, total
Wages and salaries...
Proprietors' income..
Property income
Other income
Nevada, total
Salaries and wages...
Proprietors' income..
Property income
Other income
New Hampshire, totalWages and salaries...
Proprietors' income..
Property income
Other income
New Jersey, total
Wageg and salaries. _.
Proprietors' income..
Property income
Other income
New Mexico, total
Wages and salaries.._
Proprietors' income..
Property income
Other income.
New York, total
Wages and salaries
Proprietors' income
Property income
Other income
North Carolin, total
Wages and salaries
Proprietors' income
Property income
Other income
North Dakota, total
Wages and salaries
Proprietors' income
Property income
Other income
1945
1946
1,986 2,036
1,265
1,249
398
348
172
157
201
232
916
847
568
550
178
141
91
80
79
76
2,728
2,501
1,766
1,704
464
344
304
268
194
185
6,324
5,631
3,898 4,211
689
536
828
724
596
473
6,799 7,443
4,788 5,127
923 1,156
628
555
532
533
2,614 3,123
1,627
1,419
980
737
265
232
251
226
1,202
1,205
540
518
423
421
80
74
159
192
3,776 4,374
2,300 2,506
758 1,083
412
359
373
359
668
555
323
274
252
192
49
44
44
45
1,478
1,333
654
645
598
473
133
118
93
97
239
210
144
133
60
44
23
20
12
13
548
460
351
290
88
66
66
58
43
46
5,774 6,228
4,162 4,334
807
612
634
555
453
445
492
448
273
261
135
105
37
33
47
49
| 20,454
20, 454 23, 271
13, 691 15,371
2,643 3,360
2,653 3,044
1,496
1,467
2,621 3,023
1,666
1,445
900
695
232
201
225
280
634
566
233
193
321
295
44
38
36
40
1947
2,270
1,418
485
192
175
998
632
188
103
75
2,934
1,931
506
346
151
6,718
4, 536
742
952
488
8, 641
6,035
1,261
709
636
3,450
1,861
1,062
303
224
1.382
578
570
92
142
4,671
2,804
1,058
466
343
801
378
324
56
43
1,589
730
615
153
91
256
149
69
26
12
613
394
100
76
43
6,740
4,741
880
729
390
576
314
179
41
42
25, 624
17,135
3,579
3,501
1,409
3,290
1,872
937
255
226
908
272
545
55
36
State
Ohio, total
Wages and salaries..
Proprietors' incomeProperty income
Other income
Oklahoma, total
Wages and salaries..
Proprietors' incomeProperty income
Other income
Oregon, total
Wages and salaries. _
Proprietors' incomeProperty income
Other income
Pennsylvania, total
Wages and salaries..
Proprietors' income.
Property income
Other income
Khode Island, total
Wages and salaries..
Proprietors' incomeProperty income
Other income
South Carolina, total. _.
Wages and salaries..
Proprietors' income.
Property income
Other income
South Dakota, total
Wages and salaries..
Proprietors' incomeProperty income
Other income
Tennessee, total
Wages and salaries..
Proprietors' income.
Property income
Other income
Texas, total
Wages and salaries..
Proprietors' income.
Property income
Other income
Utah, total
Wages and salaries..
Proprietors' incomeProperty income
Other income
Vermont, total
Wages and salaries..
Proprietors' income.
Property income
Other income
Virginia., total
Wages and salaries..
Proprietors' income.
Property income
Other income
Washington, total
Wages and salaries..
Proprietors' income.
Property income
Other income
West Virginia, t o t a l . . . .
Wages and salaries..
Proprietors' income.
Property income
Other income
Wisconsin, total
Wages and salaries..
Proprietors' income.
Property income
Other income
Wyoming, total
._
Wages and salaries..
Proprietors' income.
Property income
Other income
1945
1946
9,114
6,183
1,271
982
678
1,801
992
428
150
231
1,631
1,032
374
110
115
11, 376
7,715
1,465
1,261
935
956
667
84
125
80
1,303
9,851
6,532
1, 584
1,102
633
1, 897
964
540
165
228
1,753
1,069
438
125
121
12, 712
8,346
1,938
1,423
1,005
1,016
684
106
141
85
1,407
832
365
87
123
664
227
350
46
41
2,558
1,455
645
202
256
6,918
4,005
1,741
566
606
696
420
168
46
62
385
217
90
51
27
2,796
1,795
575
227
199
3,122
1,945
689
246
242
1,652
1,109
267
111
165
3,817
2,230
974
393
220
335
182
111
23
19
794
269
76
164
598
213
304
40
41
2,443
1,428
558
180
211
6,527
3,944
1,407
514
662
649
412
140
41
56
331
184
73
45
29
2,648
1,746
470
200
232
3,052
2,058
574
220
200
1,472
999
199
99
175
3,418
2,053
790
349
226
287
165
80
21
21
1947
11, 061
7,542
1,693
1,254
572
2,124
1,055
656
185
228
1,936
1, 222
460
139
115
14, 426
9, 788
2,148
1,620
870
1,133
748
116
163
100
1,517
944
360
94
119
779
265
422
55
37
2, 830
1,622
739
227
242
8,014
4, 426
2,386
640
562
773
466
198
52
57
433
245
104
58
26
2,992
1,937
622
256
177
3,289
2,060
733
273
223
1,940
1,365
310
126
139
4,341
2,610
1,070
447
214
390
216
130
26
18
i For definitions see section on Technical Notes. Comparable estimates were published for the years 1929,1933, and 1939-41 in the August 1945 issue of the SURVEY OF CURRENT BUSINESS
and for the years 1942-44 in the August 1947 issue of the SURVEY.
Source: U. S. Department of Commerce, Office of Business Economics.
/lew or r\ei/lded
ik-
STATISTICAL SERIES
Revised Estimates of Wholesale Sales and Stocks
1 HE new annual estimates of wholesale sales and inventories presented below constitute another of the major revisions of the
Office of Business Economies' sales and inventory series.1 Revised data on manufacturing sales and inventories were shown in the May, June, and July issues of
the SURVEY. Monthly wholesale trade statistics from January 1939, with and without adjustment for seasonal variations, will be published in forthcoming issues.
Effects of the Revisions
The changes instituted in the revised series have resulted
in a considerable lowering of the figures in the base period—•
primarily due to the exclusion of manufacturers' sales
branches (described more fully below). The level of wholesale sales is even further below the old series in the 1942-44
period due to the declining number of operating firms—the
effects of which are more adequately measured in the new
series. The large expansion in the wholesale population in
the postwar period, however, more than offset the wartime
discontinuances and the relative sales increase from 1939 to
1947 is somewhat greater in the revised than in the old series.
Although the same factors operated in the inventories
series, the effects are somewhat obscured by the revisions in
Statistical methods which are considerably more comprehensive here than they are in the sales series. The old inventory
series was based on four unweighted aggregate samples
while the new series, in addition to an annual check based on
corporate universe data and many other refinements, is
derived by detailed lines of trade utilizing weighted samples.
Definition and Classifications
The new wholesale series, like the old, are on an establishment basis and utilize the definitions and classifications of
wholesale trade set forth in the 1939 Census of Business—
with two exceptions. First, the operations of corporate
manufacturers' sales branches have been excluded, since
sales and inventories of these branches are covered in the
revised manufacturing series. It should be noted, however,
that when a manufacturer's sales office is set up as a separate
corporation it is classified as a service and limited-function
wholesale establishment and is included in wholesale trade.
The exclusion of manufacturers' sales branches results in
wholesale series which are comparable and additive to the
manufacturing series and are identical with the wholesale
inventory series published in connection with the nationalincome statistics.
The second exception is the inclusion of brokerage or commission sales on the basis of the actual receipts of the agent
or broker rather than as the total value of goods sold, as
reported in the Census of Business. This revision results
in more realistic stock-sales ratios.
In addition to manufacturers' sales branches and agents
and brokers, the Census of Business distinguished between
three other major groups of wholesalers: service and limitedfunction wholesalers (accounting in 1939, for 79 percent of
the revised sales total), assemblers of farm products (10 percent), and petroleum bulk stations (9 percent).
Service and limited-function wholesale establishments are
i Statistical revisions of retail sales data for recent years will appear in the September
SURVEY.
22
those "engaged primarily in the buying and selling of goods
on their own account and which are largely independent in
ownership." These establishments perform some (limitedfunction wholesalers) or all (full-service wholesalers) of the
normal wholesale functions such as warehousing, delivering
goods, assembling in large quantities for redistribution in
smaller lots, extending credit, etc. Their sales are made
primarily to retailers for resale or to industrial users for
productive purposes.
Data for stocks and sales of service and limited-function
wholesalers are presented by detailed types of establishments
(see tables 1 and 2) classified under the commodity, or homogeneous group of commodities, making up the major part
of their sales volume. Sales and stock data for all wholesalers are available only on a "durable" and "nondurable"
goods break-down because of the scarcity of information on
operations of "other than service and limited-function
wholesalers."
Methodology
The major sources of information used in the estimation
of wholesale trade statistics are the censuses of Wholesale
Trade for the years 1929, 1933, 1935, and 1939; the Bureau of
Internal Revenue's Statistics of Income, Part 2, annually,
1938-45 (data for 1945 are the latest available); and the
monthly "identical firm" sample of approximately 3,000
service and limited-function wholesalers reporting stocks
and sales to the Bureau of the Census (in cooperation with
the National Association of Credit Men).
The annual sales estimates for 1929, 1933, 1935, and 1939
are based on the censuses of those years. Sales estimates
for the years 1936 through 1938, with the exception of motor
vehicles and farm products, are interpolated by the monthly
wholesale-trade sample. This sample was also used, with
the same exceptions noted above, as a monthly interpolator
for both stocks and sales after 1938 and as an annual extrapolator for all noncorporate sales series.
Corporate sales for the years 1940, 1941, and 1943 through
1945 were extrapolated by data in Statistics of Income for
the following lines of trade: food, alcoholic beverages, apparel, dry goods, chemicals, drugs, paints, hardware, electrical goods, plumbing and heating, and lumber and mill work.
In 1942, corporations were given the option of filing consolidated reports (returns were on an unconsolidated basis in the
1939-41 period). This change resulted in some discontinuity
in the series after 1941—primarily affecting sales data
through the elimination of intra-company sales for those
firms reporting on a consolidated basis. The extrapolation
of corporate sales from 1941 to 1942 was, therefore, based on
the Census Bureau's monthly sample rather than on Statistics
of Income. After 1945, sales were extrapolated by the same
sample.
The revised estimates of inventories are presented here, by
detailed lines of trade for year-ends 1938 to 1947. The
year-end totals for all wholesale trade combined can be
taken back to 1928 by reference to the changes in book
values published in table 33 of the National Income Supplement to the SURVEY, July 1947. Details by line of trade
prior to 1938 are not now available.
The 1939 estimates of corporate and noncorporate inventories were based on the Census of Wholesale Trade, 1939.
SUKVEY OF CUKEENT BUSINESS
August 1948
The year-end extrapolations of corporate inventories for
1938 and for the 1940-47 period were made for the same
lines of trades, and by procedures similar to those used in
estimating corporate sales. However, in the case of inventories, 1942 estimates were also based on Statistics oj Income.
Noncorporate stocks were derived annually by first
extrapolating the 1939 stock-sales ratios of noncorporate
wholesalers by the annual stock-sales ratios of corporate
wholesalers with assets under $50,000 (from Statistics of
Income). These ratios were then applied to the annual
estimates of noncorporate sales.
Estimates of sales and inventories of farm products (raw
materials) and of assemblers (mainly farm products) for
other than census years are based on selected commodity,
price, and income data from the Bureau of Agricultural
Economics. The wholesale motor-vehicle series utilizes
statistics from the Automobile Manufacturers Association,
the Bureau of Labor Statistics, and the Federal Reserve
Board.
The monthly estimates for total wholesale sales and inventories are based on the assumption that the trends shown by
service and limited-function wholesalers, in each type of
establishment, are representative of those experienced by
other groups of wholesalers in similar trades.
23
Adjustment for changes in business population
A major portion of the differences in movements between
the old and new series is due to refinements in the latter
series in adjusting for the effects of the changing business
population. In the old series the only adjustment for bias
was that indicated by comparing the relative changes in the
1935-39 period as shown by the Census of Business (1935
and 1939) and by the overlapping Census Bureau's monthly
sample of identical firms. The bias was consistently downward, because of the expanding business population during
that period.
The new series, in addition to continuing the old method of
bias correction through 1941, has two additional features.
First, the adjustment of the corporate series to Statistics oj
Income data automatically corrects for changes in the number of wholesale firms. Second, estimates of births and discontinuances of wholesale firms by employee-size
groups,
contained in the Office of Business Economics7 businesspopulation statistics, make possible a direct measurement
of the sales and inventories of the net new entrants. This
direct measurement was used after 1941 for those series not
adjusted to Statistics oj Income data, and, after 1945, for all
series.
Table 1.—Wholesale Inventories, Year-Ends 1938-47
[Millions of dollars]
Type of establishment
1938
All establishments
Durable goods
Nondurable goods
Service and limited-function
Durable goods
Automotive
Lumber and building materials
Electrical goods
Hardware
Housefurnishings
Jewelry and optical goods.
Machinery and metals
Nondurable goods
Apparel
Beers, wines, and liquors—Drugs and sundries
Dry goods
Food
Paper and its products
Tobacco products
All other
2,964
877
2,087
2,381
854
145
147
67
119
63
62
251
1,527
60
111
64
157
396
68
48
623
1939
3,200
962
2,238
2,655
948
154
157
84
147
71
63
272
1,707
87
122
77
189
497
75
49
611
1941
1940
3,357
1,045
2,312
2,836
1,031
164
183
97
154
65
69
299
1,805
86
147
87
196
506
73
50
660
1942
4,151
1,255
2,896
3,409
1,223
190
198
166
187
88
75
319
2,186
108
174
99
249
650
83
58
765
3,702
956
2,746
3,056
937
147
161
85
146
66
67
265
2,119
102
153
105
259
572
83
57
788
1943
3,577
881
2,696
2,923
861
136
146
71
124
45
67
272
2,062
88
153
108
242
616
72
62
721
1944
1945
3,686
913
2,773
3,022
894
159
152
82
131
38
58
274
2,128
85
199
110
213
584
67
55
815
4,216
1,097
3,119
3,436
1,069
196
152
122
144
35
65
355
2,367
92
204
126
217
675
72
69
912
1946
5,823
1,769
4,054
4,612
1,709
300
229
297
227
77
106
473
2,903
106
277
156
388
923
92
97
864
1947
7,545
2,524
5,021
5,832
2,418
405
357
448
307
93
98
710
3,414
194
366
168
427
1,003
134
114
1,008
Source: Office of Business Economics, U. S. Department of Commerce.
Table 2.—Wholesale Sales, Selected Years 1929-47
[Millions of dollars]
Type of establishment
All establishments
Durable goods
Nondurable goods
Service and limited-function
Durable goods
Automotive
Lumber and building materials
Electrical goods
Hardware
Housefurnishings
Jewelry and optical goods
Machinery and metals
Nondurable goods
Apparel
Beers, wines and liquors
Drugs and sundries
Dry goods
Food
Paper and its products
Tobacco products
All other
1929
1933
1935
37,814
7,827
29, 987
30, 343
7,700
1,383
1,920
917
715
495
380
1,890
22, 643
1,136
21
535
1,714
8,600
704
859
9,074
16, 550
2,548
14,002
12, 950
2,489
438
492
290
340
175
105
649
10, 461
408
130
352
842
4,743
334
526
3,126
23, 585
4,947
18, 638
18, 350
4,866
1,518
801
577
428
243
181
1,118
13,485
613
699
430
1,021
5,578
409
753
3,982
Source: Office of Business Economics, U. S. Department of Commerce.
28, 394
6,704
21, 690
22, 293
6,598
2,107
1,132
735
529
315
237
1,543
15, 695
684
987
496
1,199
6,009
480
956
4,884
1937
1938
1939
1940
1941
1942
1943
1944
31, 789
7,762
24,027
25,026
7,640
2,360
1,310
890
600
350
273
1,857
17,386
728
1,212
536
1,230
6,564
554
1,032
5,530
27, 322
5,802
21, 520
21, 299
5,716
1,490
1,072
642
528
303
237
1,444
15, 583
649
1,216
506
1,060
6,038
504
1,043
4,567
30,057
7,191
22, 866
23, 642
7,086
1,995
1,264
788
592
373
276
1,798
16, 556
700
1,249
' 521
1,188
6,189
575
1,106
5,028
33, 478
8,928
24,550
26, 606
8,801
2,685
1,567
957
678
406
309
2,199
17,805
745
1,293
591
1,186
6,649
616
1,173
5,552
42, 957
12,416
30, 541
34, 244
12, 223
3,181
2,070
1,438
893
586
426
3,629
22,021
980
1,685
653
1,645
7,829
827
1,293
7,109
48,191
10, 634
37, 557
36, 814
10, 447
1,161
2,223
1,336
943
616
436
3,732
26, 367
1,107
2,150
741
2,076
9,445
839
1,426
8,583
51, 957
9,724
42, 233
38, 307
9,543
1,033
1,892
1,000
876
549
488
3,705
28, 764
1,180
2,224
785
2,242
9,935
910
1,556
9,932
54, 063
10,190
43, 873
40, 525
10,001
1,265
1,938
1,075
1,028
507
480
3,708
30, 524
1,221
2,778
876
2,178
10, 422
928
1,560
10, 561
57, 323
10,809
46, 514
43,024
10, 622
1,576
1,940
1,284
1,145
473
493
3,711
32, 402
1,234
3,248
1,091
2,098
11,089
944
1,655
11,043
73, 653
16, 844
56, 809
56, 521
16, 580
3,508
2,782
2,210
1,809
772
679
4,820
39, 941
1,656
3,674
1,185
3,135
14,136
1,318
2,191
12, 646
87, 646
22, 637
65, 009
66, 221
22, 306
5,100
3,980
3,682
2,179
1,016
625
5,724
43, 915
2,021
3,469
1,279
3,110
15, 761
1,552
2,346
14, 377
SUEVEY OF CUREENT BUSINESS
24
August 1948
Table 3.—Wholesale Sales, Monthly 1947-48
[Millions of dollars]
1947
Type of establishment
January
All establishments
Durable goods
_- _
Nondurable goods
Service and limited function
Durable goods
Automotive
- Lumber and building materials
Electrical goods .
Hardware
Housefurnishings
__ _
Jewelry and optical goods
Machinery and metals
- Nondurable goods _
Apparel
Beers, wines, and liquors
Drugs and sundries
Dry goods
Food
Paper and its products
Tobacco products
- AH other
1945
February
March
April
May
June
July
August
6,967
1,685
5,282
5,284
1,660
377
6,459
1,708
4,751
4,931
1,684
385
6,796
1,848
4,948
5,197
1,823
413
6,843
1,939
4,904
5,196
1,911
436
6,859
1,884
4,975
5,171
1,856
423
6,800
1,817
4,983
5,065
1,792
418
7,096
1,761
5,335
5,230
1,734
415
321
227
159
78
36
462
3,624
186
250
105
267
1,294
128
183
1,211
311
269
165
69
46
439
3,247
170
236
98
237
1,172
112
172
1,050
321
294
189
66
47
493
3,374
166
265
110
249
1,265
119
175
1,025
324
327
196
73
48
507
3,285
155
258
110
238
1,234
126
186
978
302
316
185
80
47
503
3,315
149
249
99
233
1,251
124
194
1,016
296
309
172
81
41
475
3, 273
138
261
92
218
1,273
127
193
971
307
297
170
71
39
435
3,496
144
279
98
231
1,337
122
204
1,081
Novem- Decem- Januber
ber
ary
September
October
7,072
1,791
5,281
5,342
1,766
410
7,763
1,951
5,812
5,912
1,923
452
8,716
2,179
6,537
6,679
2,144
471
8,013
1,998
6,015
6,036
1,967
453
8,262
2,076
6,186
6,178
2,046
447
318
276
173
92
52
445
3,576
160
288
95
274
1,244
125
202
1,188
354
304
189
104
58
462
3,989
190
316
111
311
1,411
146
202
1,302
410
333
215
118
69
528
4,535
218
424
135
336
1,545
157
219
1,501
362
314
189
99
68
482
4,069
189
291
111
285
1,346
132
198
1,517
354
416
177
85
74
493
4,132
156
352
115
231
1,389
134
218
1,537
February
March
April
May
7,692
1,901
5,791
5,720
1,874
432
7,121
1,893
5,228
5,282
1,867
425
7,726
2,176
5,550
5,868
2,143
476
7,652
2,225
5,427
5,815
2,193
485
7,389
2,076
5,313
5,517
2,047
458
7,763
2,145
5,618
5,732
2,114
473
355
296
170
82
38
501
3,846
170
268
115
242
1,373
133
182
1,363
331
309
173
84
48
497
3,415
170
243
102
238
1,163
123
174
1,202
380
368
205
92
58
564
3,725
198
277
120
283
1,343
128
194
1,182
405
382
214
90
55
562
3,622
177
275
115
256
1,382
126
192
1,099
371
344
195
94
51
534
3,470
147
265
104
236
1,358
119
187
1,054
384
348
198
98
49
564
3,618
134
285
107
249
1,434
127
202
1,080
June
Source: Office of Business Economics, U. S. Department of Commerce.
Chart 7.—Straight-Time Average Hourly Earnings,
Manufacturing Industries
Business Situation
(Continued from p. 3)
virtually stable over this interval at slightly in excess of 42
hours per week.
The following figures on the number of hours worked in
nonfarm areas summarize the significant shifts in the length
of the workweek:
CENTS
140
DURABLE GOODS
INDUSTRIES
Hours Worked in Nonagricultural Employment
Survey week
June 1946
June 1947
June 1948
Average hours
worked (hours
per week)
43. 0
42.4
42. 3
Proportion of persons working by number of
hours worked per week (percent)
Under 35
11. 9
12. 2
12. 7
35-40
Over 40
41. 0
45. 7
45. 5
47.0
42. 2
41. 7
Total
100. 0
100. 0
100. 0
It is clear that the major changes have been the decrease
in the relative number of persons working more than 40
hours a week and a corresponding return to the more typical
"40 hour week." For the past 2 years the length of the
workweek has been virtually stabilized.
Wage-Rate Increases Boost Pay Rolls
The influence upon income of recent labor developments
has also been significant. With demand for labor continuing
high, wage increases have served to lift labor income and
incomes generally. In the year between the second quarters
of 1947 and 1948, private nonagricultural pay rolls increased
by about 13 percent. Of this gain, two-thirds represents a
rise in hourly earnings and the remainder is due to a rise of
man-hours of employment. While the share of the rise
attributed to the increase in earnings may be due in part to
the changed composition of the working force, the major
part of this gain is undoubtedly due to higher wage rates.
Wages in Durable-Goods Manufacturing Rise
With a number of the more important recent wage settlements reflected for the first time in the earnings data,
earnings in manufacturing rose by almost two cents an hour
in Jurie to $1.32. This June earnings figure does not include
some major wage increases which have since been granted.
Chart 7 shows for the two major manufacturing branches
the average hourly earnings adjusted to eliminate the effect
of changes in premium rates for overtime. As may be seen,
the May-to-June rise this year was more prominent in the
durable-goods sector, reflecting wage increases in the auto
120
100
^
NONDURABLE GOODS
INDUSTRIES
® PRELIMINARY
I 1I I I 1 I I I 1I I M
80
1946
U. S. DEPARTMENT OF COMMERCE, OFFICE
1947
I I I 11) 1I I
1948
OF BUSINESS ECONOMICS.
Source of data: U. S. Department of Labor, Bureau of Labor Statistics.
mobile, electrical equipment, and machinery groups. The
flattening out of the trend of hourly earnings in the months
of 1948 prior to June stands in contrast to the movement
for the similar periods of 1946 and 1947, when wage increases
in the hard-goods group were somewhat more rapidly negotiated and of larger magnitudes.
As average hours of work have undergone little change
over the last year, weekly earnings in manufacturing have
closely paralleled changes in wage rates, increasing about
7.5 percent between the second quarters of 1947 and 1948.
A rough estimate for nonmanufacturing industries indicates
a slightly lower percentage increase, with the result that the
rise for all private nonfarm groups amounts to roughly 7
percent during this same interval. It should be pointed
out, however, that the different timing of the wage adjustments in 1947 and 1948 tends to understate the year-to-year
wage increases actually received. Furthermore, in terms
of take-home pay, the rise is somewhat greater than the
indicated 7 percent because of the tax reduction effective in
May and June of this year.
* BUSINESS STATISTICS
XHE DATA here are a continuation of the statistics published in the 1942 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 tc June for selected series will be found in the Weekly Supplement to the Survey.
Unless otherwise stated, statistics through
1941 and descriptive notes may be found
in the 1942 Supplement to the Survey
1947
June
July
August
September
1948
October
November
December
January
February
March
April
May
June
GENERAL BUSINESS INDICATORS
NATIONAL INCOME AND PRODUCT*
Seasonally adjusted quarterly totals at annual rates:
National income
bil. of dol
Compensation of employees
do
Wages and salaries
do _
Private
do
Military
_
_.
_ do_ _
Government civilian _ _ _ _ _ _
do. _
Supplements to wages and salaries
do
Proprietors' and rental income
do
Business and professional.
do
Farm
_
_
do
Rental income of persons
do
Corporate profits and inventory valuation adjustment
_
bil. of dol
Corporate profits before tax _ _ _ _ _ do_ __
Corporate profits tax liability
do
Corporate profits after tax
do
Inventory valuation adjustment
do
Net interest
do
199.3
125. 3
119.6
102.3
3.9
13.4
5.7
44.6
22.7
14.9
7.0
200.6
127. 6
122.5
105.3
3.7
13.5
5.1
44.4
23.0
14.3
7.1
212 8
132 2
127 1
109.5
3.6
14.0
5.0
48.6
24.7
16 5
74
25.2
28.8
11.3
17.5
-3.6
4.2
24.3
29.1
11.4
17.7
-4.8
4.4
27 5
32.4
12 7
19.7
—4 9
4.5
Gross national product
_
do
Personal consumption expenditures
do
Durable goods
_
do
Nondurable goods
do
Services
_____
_ do
Gross private domestic investment
do
New construction
__ _
do
Producers' durable equipment
do
Change in business inventories
_ _ do
Net foreign investment
do
Government purchases of goods and services
bil. of dol__
Federal (less Government sales)
do
State and local
do
228.3
164.2
21.1
96.3
46.7
26.4
10.3
17.9
-1.8
10.2
227.9
165. 6
21.1
96.8
47.7
25. 6
11.6
17.6
-3.5
8.4
243 8
171 1
22 1
100 2
48 8
35 4
14 0
18.9
2.5
8.2
27.6
15.7
11.9
28.3
15.7
12.6
Personal income.
do_ .
Less: Personal tax and nontax payments do
Equals: Disposable personal income
„__ do_ .
Personal savings!
_ do
PERSONAL INCOME*
Seasonally adjusted, at annual rates:
Total personal income
bil. of dol_.
"Wage and salary receipts, total
do
Total employer disbursements.._ ___ do_
Commodity-producing industries
do
Distributive industries
do
Service industries
do
Government
_
do
Less employee contributions for social insurance
bil. of dol_.
Other labor income
__
do
Proprietors' and rental income
do
Personal interest income and dividends, .do
Total transfer payments
do
189.6
21.4
168.2
4.1
196.7
21.7
175.0
9.4
r
215 1
133 7
128 8
111 1
3.5
14.2
r
4.9
50 6
25.0
18 0
75
133.9
129.1
111.0
3.6
14.5
4.9
51.9
25.4
18.9
7.6
T
r
26.2
31.4
12.2
19.2
—5.3
46
-2.5
4.7
r
243 8
r 172 0
21 4
r ioi 0
49.6
r 38 5
14.3
19 6
'4.6
3 9
248.2
175.1
22.3
102.4
50.4
37.2
14.3
20.6
2.3
3.9
29.0
15.5
13.5
29 4
16.0
13 4
32.1
17 9
14.2
203.1
22 2
180.9
9 7
207.3
r
23 6
r r 183 7
11 7
208.8
21.6
187.3
12.2
192.4
119.6
121.7
54.0
35.0
15.3
17.4
193.2
119.4
121.4
53.6
35.2
15.5
17.1
190.8
120.1
122.2
54.3
35.4
15.3
17.2
206.2
121.9
123.9
55.4
36.0
15.2
17.3
200.0
122.7
124.7
55.9
36.0
15.2
17.6
201.4
125.5
127.3
57.4
37.1
15.2
17.6
207.7
127.4
129.4
59.2
37.4
15.2
17.6
209.4
127.5
129.7
59.3
37.5
15.3
17.6
206.8
126.9
128.9
58.0
37.8
15.4
17.7
205.6
125.7
127.8
57.0
37.5
15.4
17.9
207.4
125. 0
127.0
56.3
37.2
15.6
17.9
'207.2
'126.8
' 128.8
'57.2
37.9
r
15.6
'18.1
211.9
129.1
131.3
59.0
38.2
15.8
18.3
2.1
1.8
45.1
15.4
10.5
2.0
1.8
45.3
15.6
11.1
2.1
1.8
42.8
15.6
10.5
2.0
1.9
45.0
16.2
21.2
2.0
1.9
47.5
15.9
12.0
1.8
1.9
47.1
16.1
10.8
2.0
1.9
51.3
16.2
10.9
2.2
1.9
52.4
16.5
11.1
2.0
2.0
50.0
16.6
11.3
2.1
1.9
49.3
16.6
12.1
2.0
2.0
51.9
16.7
11.8
2.0
2.0
'50.7
'16.8
10.9
2.2
2.0
53.0
16.8
11.0
172.9
172.4
Total nonagricultural income
do
187.4
173.1
184.2
179.7
181.4
184.4
184.7
184.5
187.1
183.7
NEW PLANT AND EQUIPMENT
184.1
EXPENDITURES*
All industries, total
mil. of dol
3,940
4,140
4,960
4,690
Electric and gas utilities
do
450
500
620
610
4 500
170
2,010
2,050
2,500
Manufacturing and mining _
do
1 980
2,190
220
230
Railroad
do
310
270
350
1,260
1,360
1,530
Commercial and miscellaneous
do. _
1,420
1,540
FARM INCOME AND MARKETINGS
Cash farm income, total, including Government
payments*
mil. of doL.
2,211
2,662
3,060
3,773
2,517
3,109
2,927
2,001
2,581
1,866
' 2,103
2,096
From marketings and C. C. C. loans*
do. .
2,185
2,657
3,049
3,759
2,505
3,096
2,909
1,961
2,555
1,837
' 2,065
2,047
2,377
Crops*
do
743
1,205
1,497
2,122
1,187
1,540
1,299
698
1,044
717
'602
670
764
Livestock and products*
do
1,442
1,452
1,552
1,637
1,318
1,556
1,610
1,263
1,511
1,120
' 1,463
1,377
1,613
392
382
4.RQ
334
319
353
293
303
373
329
318
460
392
Dairy products* _
do
Meat animals*
_ do
782
785
958
1,039
711
970
1,019
645
968
593
'725
720
873
234
Poultry and eggs*
do.
251
244
262
232
280
279
237
206
201
255
250
243
' Revised. §Personal savings is the excess of disposable income over personal consumption expenditures shown as a component of gross national product above.
*New series. Quarterly data for 1939-43 and earlier annual data beginning 1929 for national income and gross national product and monthly data for 1929-43 for personal income are published in the "National Income Supplement to Survey of Current Business," which is available from the Superintendent of Documents, Washington, D. C , for 25 cents; revised figures beginning 1944 on pp. 27-29 of the July 1948 Survey. For description of the series on plant and equipment expenditures and data for 1929-45, see p. 24 of the March 1948 Survey; second quarter of 1948
estimates are based on anticipated capital expenditures of business. Revisions for January 1945-May 1946 for farm income are available on request; see note in September 1947 Survey regarding
earlier data; revisions beginning 1945 were in part to adjust the series to levels indicated by 1945 Census data; 1940-44 data have not been similarly revised.
S-l
SURVEY OF CUEKENT BUSINESS
S-2
August 1948
1948
1947
Unless otherwise stated, statistics through
1941 and descriptive notes may be found
in the 1942 Supplement to the Survey
June
July
August
September
October
November
December
January
February
March
April
May
June
GENERAL BUSINESS INDICATORS—Continued
FARM INCOME AND MARKETINGS—Con.
Indexes of cash income from marketings and
C. C. C. loans, unadjusted:
All commodities!
1935-39=100
Crops!
__ _.
_ _ . do. __
Livestock!
do
Indexes of volume of farm marketings, unadjusted:
All commodities*
1935-39=100
Crops*
_
do
Livestock*
do
329
260
381
400
422
383
377
416
348
459
524
410
566
743
432
466
539
411
438
455
425
385
366
399
276
251
295
295
244
333
308
235
364
'311
'211
138
106
161
167
180
152
170
138
172
202
150
199
255
157
160
170
153
151
152
150
134
130
136
109
102
114
111
86
129
115
80
141
'118
156
'76
150
130
97
154
186
178
185
191
194
193
189
189
190
188
186
'191
*>193
191
184
191
197
200
200
196
197
197
197
193
'196
P198
Durable manufactures!
~
_ do_ __
Iron and steel!
do
Lumber and products!
_ do __
Furniture!
do
Lumber!
- - do. __
Machinery!
do
Nonferrous metals and products!.
do
Fabricating*
do
Smelting and refining* _
_ _ _ _ do_ __
Stone clay and glass products!
do
Cement
_ _ __
do
Clay products*
do
Glass containers! _
do
Transportation equipment
do
Automobiles!!
do
220
208
212
224
224
227
226
223
'228
217
181
188
204
202
205
203
203
207
137
178
116
143
'178
125
'221
'206
'145
'164
r
134
'272
'196
197
'203
P223
193
233
191
217
185
219
195
150
164
143
276
174
171
182
210
198
166
248
227
197
Nondurable manufactures!
Alcoholic beverages!
Chemicals!
Industrial chemicals*
Leather and products!
168
164
173
178
247
439
182
247
438
181
245
431
103
97
117
386
358
267
426
INDUSTRIAL PRODUCTION
Federal Reserve Index
Unadjusted combined index! .
1935-39=100.
Manufactures!
do
_ _ do
do
do _
do
do
Shoes
Manufactured food products!
Dairy products!
Meat packing
Processed fruits and vegetables*
Paper and products!
Paper and pulp! _
.
Petroleum and coal products!
Ooke
Petroleum refinlngj
Printing and publishing!
Rubber products!
Textiles and products! . . .
Cotton consumption
Rayon deliveries
Wool textile Droduction
Tobacco products
___
Minerals!
Fuels!Anthracite!
Bituminous coal!
Crude petroleum
Metals
___
_
. _ _ _ ._
_ _.
___
Adjusted, combined index!_
Manufactures
_
_
- - do. __
do
- - do
do
do
do
do_
do
..-do
do
do
- - do
do
- _ do
do
do
do
149
160
143
275
179
176
187
209
183
163
254
106
112
141
155
133
266
171
167
180
196
181
160
225
99
100
154
166
P229
150
P229
146
101
160
155
151
160
147
267
170
167
180
207
193
166
241
213
180
116
114
178
P192
178
206
248
425
121
118
123
182
P156
173
145
140
263
158
152
136
290
159
153
127
150
172
148
176
140
181
138
280
133
281
119
288
176
210
202
169
236
178
206
192
169
231
183
200
178
172
203
179
180
232
198
185
188
234
200
189
192
138
179
117
285
283
131
276
'195
197
'188
'199
202
'190
'201
203
'193
'200
198
'203
190
161
166
196
193
158
160
201
201
160
169
219
208
183
168
227
244
206
244
206
211
196
'171
233
232
192
'240
202
237
'197
'215
'175
P207
p 147
P161
P140
P274
P193
p 193
p 193
P 209
203
P175
207
P227
P192
181
180
171
173
176
173
174
'177
252
251
427
196
252
431
146
255
438
142
253
437
176
253
434
172
252
433
178
251
439
173
249
110
105
'437
'108
109
P109
128
126
114
122
127
123
113
107
p 111
126
123
167
P121
144
173
157
126
126
161
113
112
126
124
120
117
114
101
141
p 119
P91
189
154
146
144
P88
187
P87
175
P99
141
P205
P208
P214
P215
178
179
166
143
p 116
155
90
169
163
P213
137
159
200
174
147
297
179
118
165
160
108
157
152
92
163
157
P195
P201
P203
P204
165
161
171
170
177
146
216
155
133
263
155
130
207
142
118
263
130
139
210
154
130
267
156
165
162
165
145
217
160
130
278
168
172
158
155
151
149
162
126
163
166
132
163
119
169
165
106
162
111
164
166
85
160
112
161
165
81
P191
284
177
'144
'169
91
163
159
121
85
167
160
P211
'153
P201
127
P178
186
P251
P443
P162
P224
151
'96
170
164
pill
p 165
P220
v 222
174
160
177
179
156
223
164
139
280
167
158
225
172
149
290
172
150
230
163
131
287
166
144
223
179
153
300
181
155
215
179
153
295
185
153
205
175
147
302
177
181
172
139
153
147
155
173
163
173
149
136
145
'164
P163
161
118
155
167
83
146
108
97
169
82
149
105
102
171
168
116
171
172
P164
' 126
P149
159
'200
'176
147
'308
175
156
P200
p 173
140
309
179
152
145
155
153
110
147
159
148
144
93
117
160
151
155
114
151
161
151
158
160
122
161
164
145
do
184
176
182
187
190
192
192
193
194
191
188
'144
'191
do
191
183
188
192
197
199
198
200
201
200
195
197
P198
219
142
133
179
188
207
171
164
257
168
159
250
107
114
154
P155
152
132
210
142
133
170
180
199
171
162
231
169
176
249
116
115
157
P147
145
138
217
140
128
174
182
202
171
160
243
172
198
248
122
120
158
P148
146
149
223
143
128
179
176
201
174
161
229
176
229
248
126
121
156
224
150
137
185
177
201
178
162
229
179
219
251
124
122
158
229
155
143
226
150
135
217
'195
' 199
229
151
137
200
192
'220
'142
'131
'197
'203
P222
P140
P129
P193
p 147
P140
142
134
170
129
146
140
P195
158
153
»201
159
153
v 203
229
153
139
189
183
205
196
166
218
173
167
254
114
113
158
P138
160
138
160
155
*191
207
133
121
171
181
195
164
160
235
163
164
251
101
106
155
P157
156
133
163
157
P204
165
160
P205
158
153
P 208
146
155
159
139
142
156
145
1,54
160
144
160
163
152
164
175
152
172
169
146
163
149
do. __
do
.do.. _
_ do
do__
do.
Durable manufactures
do
Lumber and products.._ _
do_.
Lumber _
_
_ do
Nonferrous metals
do
Smelting and refining*-.
_ _ _ _ do__
Stone, clay, and glass products
do
Cement
do
Clay products*
do
Glass containers
_
do
Nondurable manufactures.
do
Alcoholic beverages
do
Chemicals. ._
do
Leather and products
do
Leather tanning*
do
Manufactured food products
do
Dairy products _ _ _ _ . . .
do. _
Meat packing
do
Processed fruits and vegetables* . do.
Paper and products
do
Paper and pulp
do
Petroleum and coal products
do. _.
Petroleum refining!
do
Printing and publishing
do
Textiles and products
do
Tobacco products. _ _
do
187
202
199
179
200
178
167
255
120
116
158
189
207
208
168
208
180
198
252
123
116
160
'211
196
176
219
177
191
250
115
102
158
'145
132
199
202
211
193
173
227
177
182
249
110
105
157
P149
139
v 145
150
141
147
144
131
155
163
157
P214
163
158
P215
166
160
P211
168
163
P214
148
179
153
157
179
155
150
175
164
154
174
183
P139
P
125
147
p 105
P157
p 173
P192
218
P194
P206
190
P 176
209
'178
P178
167
250
'108
170
P254
P 110
'159
P151
P152
205
187
'172
110
P162
127
152
'148
169
164
P220
P145
165
159
P222
156
'176
P173
163
166
155
150
148
156
153
'162
155
140
P158
155
154
Minerals
do
147
142
122
111
107
117
117
109
120
Metals
do
117
'128
117
'137
118
* Revised. * Preliminary. JIndex is in process of revision.
•New series. Data beginning 1939 for the new series under industrial production are shown on pp. 18 and 19 of the December 1943 Survey. See note in January 1948 Survey for source
of indexes of volume of farm marketings and reference tofiguresbeginning 1929; annual indexes for 1939,1941 and 1944-47 are shown on the back cover of the February 1948 Survey; they include
revisions in marketings data and also, for 1945-46, adjustments to 1945 census data which have not been incorporated in monthly figures; 1940-44 annual indexes and 1940-46 monthly data have
not been adjusted to census data.
!Revised series. For revisions for the indicated unadjusted indexes and all seasonally adjusted indexes for the industrial production series, see pp. 18-20 of December 1943 Survey; seasonal
adjustment factors for a number of industries were fixed at 100 beginning various months during 1929-42; data for these industries are shown only in the unadjusted series. Revisions for January 1945-May 1946 for the indexes of cash income from farm marketings are available on request; see note in September 1947 Survey, p. S-l, regarding earlier data; revisions beginning January
1945 were in part to adjust the series to levels indicated by 1945 census data; 1940-44 data have not yet been similarly revised.
SUEVEY OF CUBRENT BUSINESS
August 1948
Unless otherwise stated, statistics through
1941 and descriptive notes may be found
in the 1942 Supplement to the Survey
S-3
1947
June
July
August
September
1948
October
November
December
January
February
March
April
May
June
GENERAL]BUSINESS INDICATORS—Continued
MANUFACTURERS' SALES, INVENTORIES.
AND ORDERSt
Sales:
Value, total
millions of dollars.
Durable goods industries
do
Nondurable goods industries
do
Index, total
average month 1939=100..
Durable goods industries
do
Iron, steel, and products
do
Nonferrous metals and products
do
Electrical machinery and equipment-__do
Machinery, except electrical
do
Automobiles and equipment
do
Transportation equipment, exc. autos._do
Furniture and finished lumber prod
do
Stone, clay, and glass products
do. _.
Other durable goods industries
do
Nondurable goods industries
do
Food and kindred products.
do
Beverages
do
Textile-mill products, excl. apparel
do
Leather and products
do
Paper and allied products
do
Printing and publishing
do
Chemicals and allied products
do
Petroleum and coal products
do
Rubber products
do
Tobacco manufactures
do
Other nondurable goods
do
Inventories, book-value, end of month:
Value, total
millions of dollars..
Durable goods
do
Nondurable goods
do
Index, total
average month 1939=100..
Durable goods industries
do
Iron, steel, and products
do
Nonferrous metals and products
do
Electrical machinery and equipment-__do
Machinery, except electrical
do
Automobiles and equipment
do
Transportation equipment, exc. autos_.do
Furniture and finished lumber prod
do
Stone, clay, and glass products
do
Other durable goods
do
Nondurable goods industries
do
Food and kindred products
do
Beverages
do
Textile-mill products, excl. apparel
do
Leather and products
do
Paper and allied products
do
Printing and publishing
do
Chemicals and allied products
do
Petroleum and coal products
do
Rubber products
do
Tobacco manufactures
do
Other nondurable goods
do
New orders:
Index, total
average month 1939=100-.
Durable goods
do
Iron, steel, and products
do
Machinery, including electrical
do
Other durable goods, excl. trans, equip--do
Nondurable goods,,.
do
16,063
6,129
8,934
295
328
306
376
394
339
364
508
208
244
269
276
286
292
279
222
315
242
304
254
322
237
257
14,361
5,545
8,816
270
285
267
310
331
278
345
390
215
223
227
262
286
281
235
245
288
218
280
258
298
223
221
15,257
5,858
9,399
287
301
296
327
349
295
326
406
251
226
258
279
291
296
275
277
295
251
287
257
312
213
284
16, 597
10,202
325
342
321
392
410
324
399
483
286
249
270
315
332
356
312
288
312
289
329
269
346
239
336
18,082
7,028
11, 054
328
348
330
386
421
329
410
489
279
255
274
316
320
397
319
306
331
291
336
267
348
223
341
16, 554
6,348
10, 206
337
353
335
442
444
325
401
486
271
250
288
328
335
416
319
251
328
344
328
302
354
226
352
17, 523
6,988
10, 535
330
360
331
423
470
347
424
514
275
236
272
312
313
373
327
286
312
300
312
318
307
232
305
16, 549
6,405
10,144
311
329
325
364
386
304
383
-•446
270
223
276
301
313
268
301
303
320
235
320
328
282
206
296
16, 208
6,448
9,760
330
26, 479
12, 833
13,646
246
266
192
253
374
271
443
630
203
161
195
230
194
334
221
208
229
366
265
162
111
216
293
26,846
13, 015
13, 831
250
270
197
258
376
275
444
630
205
161
204
234
208
316
223
213
241
373
262
164
268
211
301
27,051
13,131
13, 920
252
272
199
262
375
276
452
644
203
161
206
235
213
327
223
207
253
370
261
169
258
212
297
27,055
13,131
13, 924
252
272
200
259
374
277
451
634
201
157
210
235
220
338
220
198
260
368
256
171
246
216
27,397
13, 222
14,175
255
274
201
259
375
280
449
637
209
162
213
239
238
345
218
195
262
367
253
174
247
225
27, 627
13, 226
14,401
257
274
203
249
373
282
449
621
207
168
219
243
244
336
226
209
265
355
259
176
242
229
290
28,020
13,335
14, 685
261
277
204
251
370
285
447
623
228
170
222
248
250
335
224
223
268
361
271
178
257
233
293
28,491
13,446
15,045
265
279
202
249
372
291
462
••633
241
168
218
254
255
357
238
229
268
362
273
177
271
237
301
245
271
304
315
202
230
231
260
271
328
194
213
231
261
286
307
199
213
260
292
312
345
230
240
255
291
308
346
230
234
268
307
348
348
231
244
252
292
322
344
220
228
216
329
18,100
7,364
10, 736
328
••365
345
410
442
363
435
'500
273
252
271
307
297
251
345
300
333
268
315
322
285
218
341
17,212
6,848
10,364
••324
'353
325
415
440
350
413
'486
256
274
255
307
299
294
333
266
332
263
334
318
312
225
326
28,757
13, 514
15,243
268
280
205
250
376
293
472
'632
234
163
213
257
244
355
249
238
272
383
279
178
283
234
319
29,053
13, 555
15,498
270
281
205
257
384
295
473
'625
242
165
202
262
243
356
255
241
276
398
289
182
294
231
329
29,149
13,680
15,469
271
284
206
262
388
297
472
••360
336
415
446
356
424
'493
308
222
277
314
305
273
350
327
334
271
327
••632
255
163
204
261
236
359
253
241
276
424
285
186
293
229
332
' 16, 787
' 6,613
' 10, 174
'328
'353
'338
419
431
'356
'401
'486
248
'263
'261
'314
'321
286
'327
'240
'338
'271
327
'337
'328
'233
313
' 29,450
' 13,773
' 15,677
274
'286
213
'262
'394
'297
'479
'630
259
'161
'189
265
'229
'376
256
'251
287
'423
'286
'194
'305
225
'348
* 17,830
9 7,227
9 10,603
335
374
346
429
455
379
430
542
263
274
271
315
318
317
339
247
332
274
315
326
342
253
316
9 29,848
» 13,819
9 16,029
278
287
218
261
395
298
469
644
251
160
190
271
233
377
259
259
293
435
290
203
287
228
372
251
291
325
312
240
227
251
287
321
299
243
230
257
314
371
329
243
223
252
292
320
309
248
228
'244
'267
'282
'284
'239
230
262
309
336
337
258
235
BUSINESS POPULATION
OPERATING BUSINESSES AND BUSINESS
TURN-OVER*
Operating businesses, total, end of quarter
thousandsdo
Contract construction
Manufacturing
do
Retail trade
doWholesale trade
_ do
Service industries _ _ . .
_ _
do. _
All other...
do.—
New businesses, quarterly
Discontinued businesses, quarterly
-do.—
Business transfers, quarterly
-do_ —
3,786.0
268.7
316.4
1,744.7
177.5
720.7
557.9
109.6
54.8
102.3
3,816. 6
276.3
317.6
1, 755. 2
179.8
726.8
560.9
85.1
54.5
98.4
' 3,838.6
'281 6
r
317 4
' 1 762 1
'181.7
' 733.0
' 562.9
'76.2
'54.2
76.6
INDUSTRIAL AND COMMERCIA L
FAILURES
Grand total ..
nu rcber-Commercial service
do
Construction
__. . . .
doManufacturing and mining
do
Retail trade
Wholesale trade
._____.
do. .
Liabilities, grand total
thous. <Dfdol..
Commercial service __
_ _ _ _ _ _ doC onstruction
do
Manufacturing and mining
do—
Retail trade
doWholesale trade
do
283
21
23
95
108
36
18,982
610
664
14,22C
1,614
1,874
299
30
17
107
105
40
37,137
19,863
384
12,466
2,280
2,144
287
23
19
99
102
44
14,903
655
176
10,426
1,668
1,978
292
28
20
101
103
40
10,034
829
444
5,964
1,390
1,407
336
29
25
98
129
55
21,322
1,074
2,301
13,337
2,289
2,321
313
23
25
124
115
26
16,345
505
537
12, 574
1,531
1,198
317
23
26
112
123
33
25,499
1,232
455
20,937
1,908
967
356
29
23
108
153
43
12, 965
711
820
6,892
2,837
1,705
417
44
22
151
165
35
25,619
979
1,987
17,987
3,410
1,346
477
47
43
136
194
57
17, 481
1,883
957
9,243
3,714
1,684
404
50
30
99
175
50
15,296
1,472
1,662
7,057
2,476
2,629
426
30
31
135
158
72
13,814
1,058
588
7,030
2,679
2,459
463
49
36
130
194
54
12,163
1,317
984
5,147
3,037
1,678
2,893
2,595
2,494
2,612
3,269
2,767
3,160
3,688
2,479
2,995
2,869
2,594
2,752
'
BUSINESS INCORPORATIONS
New incorporations (4 states)
r
nu tnber.
Revised » Preliminary.
•New series. For data through 1944 for the series on operating business and business turnover, see pp. 21-23 of the May 1946 Survey and p. 10 of the May 1944 issue.
tRevised series. Description and back data for m anufacturers sales and inventories are shown on pp. 8, 9, 23, 24, of the May 1948 Survey; the indexes of new orders are being revised.
SURVEY OF CURRENT BUSINESS
S-4
Unless otherwise stated, statistics through
1941 and descriptive notes may he found
in the 1942 Supplement to the Survey
August 1948
1947
June
July
August
September
1948
October
November
December
January
February
March
April
May
June
COMMODITY PRICES
PRICES RECEIVED AND PAID BY FARMER S
Prices received, all farm productsf—- 1909-14=100..
Crops
do__
Food grain
do
Feed grain and hay
do
Tobacco
.
_
do
Cotton
do
Fruit
_ _ _ __do
Truck crops
do
Oil-bearing crops
do
Livestock a n dproducts
Meat animals. _ _ _
do _
. . _ _ _ do. _
Dairy products
do
Poultry and eggs _ _ _
_ _ do. _
Prices paid:*
All commodities
1910-14=100.
Commodities used in living __
do _
Commodities used in production
__do_ . .
All commodities, interest and taxes
do
Parity ratio*
_
_ _ _ _ - . . _ _ do
271
262
253
240
390
275
228
215
318
278
338
233
205
276
263
251
253
390
289
215
189
314
286
343
244
220
276
255
246
270
383
267
177
211
308
295
349
258
224
286
254
278
297
352
252
181
179
311
315
367
282
246
289
261
302
284
357
247
166
238
344
313
360
283
251
287
268
312
283
354
257
151
272
349
304
338
293
242
301
281
318
305
377
275
149
294
367
320
352
311
262
307
284
322
318
377
267
135
320
377
328
379
313
231
279
257
251
261
374
248
136
320
3?3
300
331
307
218
283
262
260
284
372
256
140
295
339
302
342
298
212
291
276
268
291
371
275
142
340
351
304
347
296
214
289
267
261
282
370
284
141
262
357
309
361
291
211
295
261
249
278
370
284
155
213
364
326
390
291
221
244
252
233
230
118
244
252
234
230
120
249
256
239
234
118
253
259
246
238
120
254
261
246
239
121
257
264
248
241
119
262
268
254
245
123
266
272
259
251
122
263
270
255
248
112
262
267
255
247
115
264
268
258
249
117
265
270
259
250
116
266
271
259
251
118
RETAIL PRICES
All commodities (U. S. Department of Commerce
index)
1935-39=100
Coal (U. S. Department of Labor indexes):
Anthracite
1923-25=100.
Bituminous
_
. . .
do_ .
C o n s u m e r s ' price index ( U . S. D e p a r t m e n t of
Labor) :§
Combined index
1935-39=100.
Apparel
do
Food
do
Cereals and bakery products*.
do. .
Dairy products*
do _
Fruits and vegetables*
„.
do. _
Meats*
do
Fuel, electricity, and ice. ._
do. _
Gas and electricity*
do
Other fuels and ice*
do
House furnishings _ _ _ __
do
Rent
do
Miscellaneous
do
178.7
179.7
181.4
184.9
184.9
185.9
188.4
190.3
189.0
188.6
190.8
192.1
116.8
123.6
119.2
129.5
126.5
139.1
128.3
139.4
129.4
140.5
130.4
143.8
130.5
144.3
131.9
145.7
132.1
146.3
132.1
146.4
132.0
147.4
132.4
150.5
134. 6
' 152. 2
157.1
185.7
190.5
154.6
171.5
205.0
216.9
117.7
91.7
143.0
182.6
109.2
139.1
158.4
184.7
193.1
155.0
178.8
202.0
220.2
119.5
91.7
146.6
184.3
110.0
139.5
160.3
185.9
196.5
155.7
183.8
199.8
228.4
123.8
92.0
154.8
184.2
111.2
139.8
163.8
187.6
203.5
157.8
195.2
198. 2
240.6
124.6
92.1
156.3
187.5
113.6
140.8
163.8
189.0
201.6
160.3
190.1
196.6
235.5
125.2
92.2
157.4
187.8
114.9
141.8
164.9
190.2
202.7
167.9
198.4
199.6
227.0
126.9
92.5
160.5
188. 9
115.2
143.0
167.0
191.2
206.9
170.5
204.9
205.3
227.3
127.8
92.6
162.0
191.4
115.4
144.4
168.8
192.1
209.7
172.7
205.7
208.3
237.5
129.5
93.1
165.0
192.3
115.9
146.4
167.5
195.1
204.7
171.8
204.4
213.0
224.8
130. 0
93.2
165.9
193.0
116.0
146.4
166.9
196.3
202.3
171.0
201.1
206.9
224.7
130.3
93.8
166.0
194.9
116. 3
146.2
169.3
196.4
207.9
171.0
205.8
217.4
233.8
130.7
93.9
166.7
194.7
116.3
147.8
170.5
197.5
210.9
171.1
204.8
218.0
244.2
131.8
94.1
168.6
193.6
116.5
147.5
171.7
196.9
214.1
171.2
205.9
214.9
255.1
132.6
94.2
170.1
194.8
117.0
147.5
' 147. 7
150.6
153.6
157.4
158.5
159.7
163.2
165.7
160.8
161.4
r
162. 8
' 163.9
166.2
157.6
175.5
154.1
186.7
217.9
204.4
157.3
176.7
158.0
181.0
148.6
226.0
r 158. 5
177.6
' 153. 7
189.1
213.5
219.0
' 158. 2
177.4
156.3
176.6
147.0
233.2
159. 6
182. 6
154. 3
196.0
209. 2
239.2
159.4
181. 4
155. 1
181. .3
147. 6
241. 3
r 149. 0
' 196. 4
152.8
128.2
312.9
»• 158. 4
134.7
125.9
153.3
115.0
205.0
132.6
149. 5
196.8
153. 3
128.8
313. 2
158.7
135. 7
126. 2
153. 7
113. 9
212. 7
133.1
89.3
122.1
187.5
218.0
188.2
185.6
' 142.6
145.8
' 139. 6
157.1
148.8
150.0
143.2
122. :t
186. 8
215. 2
186. 9
185. 8
143. 4
147. :i
139. 9
158. 7
149. 2
152. ].
145. <\
r
193.5
r
WHOLESALE PRICES
U. S. Department of Labor indexes:
Combined indexcf. . 1926=100
Economic classes:
Manufactured products<_*
do
Raw materials
. . do
Semimanufactured articles
. . . do.
Farm products
_
do
Grains.. _
_ do. _
Livestock and poultry
_
do
Commodities other than farm productscf- - do
Foods
_
. . do
Cereal products
do
Dairy products.
. . . do
Fruits and vegetables _
do
Meats
do
Commodities other than farm products and
foods cf
1926=100
Building materials
.
do
Brick and tile
do
Cement.
. . .
do
Lumber
do
Paint and paint materials. _ . _ _ do
Chemicals and allied productsf
do
Chemicals.
do
Drug and pharmaceutical materialist--do
Fertilizer materials
__
do
Oils and fats
_
do
Fuel and lighting materials
do
Electricitv
do
Gas
do
Petroleum products
do
Hides and leather products.
.
do
Hides and skins
do
Leather
. . .
do
Shoes . . .
__
do
Housefurnishing goodsf
. . .
do
Furnishings
_
do
Fumituref
___
do
Metals and metal productscfj
do. _
Iron andsteelf _
_
do
Metals, nonferrous
do
Plumbing and heating equipment, do. .
' 142. 0
160. 2
' 145.1
' 177. 8
206.0
200.9
' 140.9
161.8
'149.3
'141.1
145.2
208.6
144.0
165.3
147.0
181.4
202.3
209.9
143.6
167.1
154.7
152.8
139.7
217.9
147.6
167.0
149.5
181.7
208.8
215.9
147.2
172.3
153.3
164.3
133.0
234.6
151.6
170.8
152.0
186.4
230.3
224.8
150.8
179.3
158.7
170.6
130.1
244.8
151.1
175.1
154.1
189.7
241.4
224.5
l.R1.5
177.8
167.6
1P7.3
130.8
2S0. 0
152.3
175.5
156.4
187.9
245.5
211.0
153.3
178.0
172.5
175.9
135.5
217.6
154.7
182.0
157.9
196.7
252.7
226.3
155. 7
178.4
170.6
183.5
135. 4
214.8
157.7
183.9
157. 6
199.2
256. 3
232.9
158.1
179.9
170.1
183.9
141.1
222.3
154.5
174.9
155.3
185.3
220.0
210.0
155.2
172.4
160.2
184.8
144.8
2C6. 2
155.8
174.7
152.9
186.0
218.0
209.4
155.7
173.8
158.6
179.8
145. 7
217.1
r
r 131.6
' 174.1
134.7
114.3
' 265. 5
'158.8
'120.8
'119.8
156.1
' 102.3
139.2
'104.0
64.4
85.8
87.5
' 173.8
187.1
178.9
'173.8
' 129.7
137.2
' 128.6
'142.0
' 129.9
142.9
119.1
133.4
175.7
143.3
114.9
269.0
156.1
118.8
119.9
137.4
103.5
134.8
108.9
65.0
85.5
89.8
178.4
203.5
187.4
173.2
129.8
138.1
129.7
' 143.0
M31.7
141.8
123.4
136.0
179.7
144.3
116.9
276.7
154.9
117.5
117.5
136.6
105.5
133.3
112.5
64.5
86.0
92.2
182.1
215.6
190.7
174.9
129.7
138.1
129.3
' 148. 4
T
138. 3
141.8
128.6
138.2
183.3
145.4
119.0
285.7
157.9
122.3
118.2
136.6
109.8
163.3
114.1
65.2
87.0
93.7
184.8
221.1
197.4
175.2
130.6
138.5
132.1
150.1
139. 0
142.0
135.9
140.0
185.8
145.6
120.1
290.0
161.4
128.6
122.1
137.5
111.3
193.4
115.9
64.9
86.8
96.5
191.7
243.7
204.3
178.0
132.3
139.3
135.0
150.5
139.3
142.0
136.0
142.4
187.5
147.3
120.6
295.6
161. 8
135.8
124. 3
151.1
112.0
226.7
118.1
66.3
83.6
99.9
202.4
263. 4
216.0
187.0
137.7
140.0
135.6
'150.8
' 139. 5
142.2
136.0
145.6
191.0
148.8
121.6
303.2
164.0
135.0
124.1
154.9
114.4
215.9
124.3
fi6.5
85.4
112.0
203.1
256.9
216.2
190.7
139.7
142.8
136.8
'151.4
' 140.2
143.0
136.1
148.2
193.1
150.9
126.4
307.3
163.2
138.8
125.8
154.4
115.6
236.7
130.0
147.5
192.6
lf;l.l
127.2
303.8
159.6
134.6
126.5
154.3
114.8
201. 5
180. 7
66.6
85.8
121.7
192.8
207.2
199.9
194.7
141.8
144.4
139.4
155.3
146.3
148.8
138.7
147.7
193.1
151.6
127.4
303.8
1S6. 7
136.1
126.8
154.4
114.9
211.4
130.9
65.7
88.7
121.8
185.4
186.2
185.9
193.8
142.0
144.7
139.4
155.9
147.7
146.8
138.7
148.6
' 195.0
152.5
127.5
309.2
' 158. 6
136. 2
126. 8
153.8
115.2
212.3
131.6
66.1
89.1
121.8
186.1
199.3
183.6
191.7
142.3
145.2
r
139.6
157.2
149.4
149.8
138.7
r
r
r
r
m.A
r
r
84.5
120.7
200.3
238.9
209.2
194.3
141.4
143.9
139.1
154. 3
144. 6
145.5
137.9
r
r
Revised, v Preliminary.
§ I n A u g u s t 1947 t h e n u m b e r of foods i n c l u d e d in t h e index w a s reduced from 61 t o 50. B e g i n n i n g J u l y 1947 a n e w schedule w a s a d o p t e d for collecting prices of a p p a r e l , housefurnishings,
a n d miscellaneous goods a n d services; prices for these groups are o b t a i n e d in 10 k e y cities each m o n t h a n d in 24 o t h e r large cities q u a r t e r l y ; prices are collected for 8 of t h e 24 q u a r t e r l y cities
e a c h m o n t h ; information on r e n t s is o b t a i n e d a t least q u a r t e r l y in each of t h e 34 cities; n a t i o n a l averages for t h e i n d i c a t e d groups a n d for r e n t s are w e i g h t e d averages of indexes for cities suirveyed d u r i n g t h e m o n t h a n d e s t i m a t e d c h a n g e s for o t h e r cities in t h e index. F o r J a n u a r y - J u n e 1947 r e n t changes w e r e e s t i m a t e d from a s u r v e y of 5 or 6 cities each m o n t h .
cf C u r r e n t prices on m o t o r vehicles were i n t r o d u c e d i n t o t h e calculations beginning October 1946; April 1942 prices were carried forward in earlier c o m p u t a t i o n s : see p r e v i o u s issues of t h e
S u r v e y for explanation a n d for O c t o b e r 1946-May 1948 indexes using A p r i l 1942 prices; J u n e 1948 indexes using A p r i l 1942 prices are a s follows: A l l c o m m o d i t i e s , 163.5; m a n u f a c t u r e d product!?,
155.3, c o m m o d i t i e s other t h a n farm p r o d u c t s , 156.1; c o m m o d i t i e s other t h a n farm p r o d u c t s a n d foods, 145.3; m e t a l s a n d m e t a l p r o d u c t s , 139.4.
•New series. The series on prices paid by farmers and the parity ratio are from the U. S. Department of Agriculture; the latter is the ratio of prices received to prices paid, interest and
taxes; data for 1913-45 will be shown later. For a description of the Department of Commerce index of retail prices of all commodities, see p. 28 of the August 1943 Survey, and for revised
figures for 1929,1933, and 1935-44, p. 31 of February 1946 Survey. Data for 1923-45 for the indexes of retail prices of the food subgroups are shown on p. 16 of the November 1946 Survey. Data
beginning 1935 for the indexes of retail prices of "gas and electricity" and "other fuels and ice" will be published later*
tRevised series. Indexes of prices received by farmers for 1913-45 are shown on pp. 17-19 of the April 1947 Survey; data for July 15, 1948, are as follows: Total 301; crops, 253; food grain,
240; feed grain and hay, 256; tobacco, 370; cotton, 266; fruit, 172; truck crops, 213; oil-bearing crops, 366; livestock and products, 344; meat animals, 417; dairy, 300; poultry and eggs, 234. For
revised data for 1941-43 for the indicated series on wholesale prices, except the furniture index, see p. 23 of the November 1945 Survey. The index of wholesale prices of furniture has been ny
vised beginning January 1943; revisions prior to 1947 will be shown later; the revision has been incorporated in the group index and other composite indexes only beginning November 1947.
{Revisions for January-May 1947: Metal and metal products—139.7; 139.6; 141.1; 141.3 and 141.9; iron and steel—127.7; 128.6; 129.5; 129.8; and 129.5.
SURVEY OF CURRENT BUSINESS
August 1948
Unless otherwise stated, statistics through
1941 and descriptive notes may be found
in the 1942 Supplement to the Survey
S-5
1947
June
July
August
September
1948
October
November
December
January
February
March
April
June
May
COMMODITY PRICES—Continued
WHOLESALE PRICES—Continued
U. S. Department of Labor indexes—Continued
Commodities other than farm., etc—Con.
Textile products
1926= 100..
Clothing
do
Cotton goods
do
Hosiery and underwear
do
Rayon
do
Silk
do.-.
Woolen and "worsted goods
do
Miscellaneous
do
Automobile tires and tubesf
cto
Paper and pulp
do
Wholesale prices, actual. (Bee respective commodities.)
'r 139.9
135.4
r 196.2
100.8
37.0
68.4
129.2
r
113.5
62.5
r
156.7
139.5
134.3
195.9
100.4
37.0
68.2
130.1
113.0
60.8
157.2
140,8
134.3
199.2
99.9
37.0
68.2
54.4
63.6
52.4
39.3
53.3
63.1
51.7
38.5
112.7
60.8
157.6
142.0
134.4
202.3
99.9
37.0
68.3
133.8
115.9
60.8
159.5
143.0
134.7
204.6
100.0
37.0
71.2
134.2
117.1
60.8
159.8
144.7
135.6
209.1
101.4
37.0
73.3
134.9
118.8
61.0
160.7
147.6
136.3
213.5
103.0
40.0
73.3
139.6
121.5
63.4
164.7
147.6
140.4
214.8
104.4
40.7
46.4
141.6
123.5
63.4
168.1
148.4
143.0
214.9
105.0
40.7
46.4
142.8
119.9
63.4
167.1
149.8
144.6
218.3
105.4
40.7
46.4
145.7
120.8
63.4
167.0
' 150. 3
145.8
r 219.2
105.4
40.7
46.4
147.5
121.8
63.4
167.5
52.4
62.4
50.8
38.5
51.1
61.1
49.1
37.2
50.8
61.1
49.6
36.8
50.4
49.3
59.9
48.3
35.3
48.6
59.2
47.7
34.7
50.0
59.7
48.9
38.1
49. S
59.9
49.4
37.7
'49.4
59.1
48.1
36.6
m.3
r 150. 2
145.8
<• 217. 8
105.4
40.7
46.4
147.5
121.5
63.4
167.4
149.6
145.2
213.1
105.3
40.7
46.4
147.5
121.4
63.4
167.3
PURCHASING POWER O F T H E DOLLAR
As measured b y Wholesale prices
Consumers' prices
Retail food prices
Prices received by farmerst
1935-39=100..
do
do_._.
do
49.5
37.0
49.1
58.7
47.4
36.8
48.4
58.2
46.7
36.1
1, 455
1,116
'585
1, 605
1, 228
633
CONSTRUCTION AND REAL ESTATE
CONSTRUCTION ACTIVITY*
New construction, total
mil. of dol_.
Private, total
do—
Residential (nonfarm)
do
Nonresidential building, except farm and public
utility, total
mil. of dol..
Industrial
do.
Farm construction
do.
Public utility
...do.
Public construction, total
do.
Residential
do.
Military and naval
...do.
Nonresidential building, total
do
Industrial
do.
Highway
do.
All other
do.
r
r
1,162
1,264
966
455
1,364
1,042
500
1,423
1,086
540
1,497
1.129
'590
1, 432
1,141
630
1,320
1,097
610
1,157
948
500
1,009
837
400
1,166
940
475
1,302
1,015
525
250
140
50
180
277
8
15
43
2
125
254
139
60
197
298
9
19
42
2
137
91
260
139
75
207
322
8
22
45
1
149
267
138
65
214
337
7
22
49
1
159
100
275
137
50
214
368
9
23
53
1
178
105
287
136
25
199
291
284
134
15
188
223
273
130
14
161
209
9
14
53
1
56
77
265
125
14
158
172
6
11
49
1
41
65
266
120
23
176
226
5
12
65
1
57
87
263
116
37
190
287
6
13
71
2
278
112
50
203
339
5
13
77
2
136
108
24,044
605,070
226, 471
378, 599
28, 734
660, 254
202, 571
457,683
31,885
823,216
217,811
605,405
27,185
649, 996
192, 660
457,336
36, 339
793,286
208,947
584, 339
29.793
715,108
223, 505
491,603
21,696
625,363
207, 481
417, 882
23,125
615, 206
196, 530
418, 676
20, 557
681,967
248,443
433, 524
27,999
689, 763
181,044
508, 719
37, 061
873, 882
236, 330
637, 552
37, 282
970, 789
298,213
672, 576
4,355
27, 561
209,942
4,912
32,123
253, 512
4,915
41,682
290,807
4,213
24,114
239, 915
5,134
33,478
277,888
4,249
28,552
243,416
3,252
33,088
244,495
3,295
27, 719
240, 544
3,205
29,097
272,395
3,622
25, 671
248, 939
4,746
34,478
337, 603
4,907
40, 413
395, 971
17,604
29,213
209,458
21, 568
36, 774
240,885
24, 789
47,805
21,154
30,037
268, 543
29,473
52,302
349,490
24,147
42,696
290,220
17, 402
32,192
226, 796
18,899
32,183
238,098
16, 336
31,474
232, 250
23,227
35,385
276, 541
30, 448
46, 526
351, 604
30,320
51, 710
369, 780
26, 366
40,149
355, 296
1,744
142,495
1,910
127,454
1,761
137,471
1,522
110, 556
1,425
112, 726
1,114
138,606
809
113, 289
718
108, 891
803
143,033
915
109, 596
1,524
132, 598
1,659
159, 700
1,813
167, 984
341
43,175
344
38,403
420
86,001
296
30,982
307
53,182
42,866
235
54, 687
343
52,077
45,338
363
47, 707
170
138
155
136
173
148
166
150
184
168
183
168
175
164
184
170
173
157
193
163
213
27, 673
156
126
191
152
213
34,289
158
127
136
116
233
40,783
159
137
197
161
161
135
187
152
182
156
181
148
206
181
181
154
'226
195
'188
165
^229
517,175
524, 238
413,494
494,805
575,089
474,357
503,384
441, 955
474,643
508,096
777,159
535,184
596,332
4,228
212
2,456
1,560
5,011
169
2,452
2,390
3,285
79
1,468
1, 737
2,760
163
1,133
1,464
3,260
203
1,946
1,110
2,349
5
1,592
752
2,863
124
1,776
1,723
6
1,040
677
2,304
10
1,425
4,386
361
2,654
1,371
5,073
353
2,734
1,986
5,124
10
3,187
1, 928
5,205
190
2,128
2,887
93, 800
94, 000
79,700
58, 800
50, 000
47, 200
70, 000
92, 000
97,000
» 93, 500
52,152
51,877
40,834
2,992
8,051
275
56,330
55,870
42,825
3,536
9,509
460
41,875
33, 343
36,452
33,289
41,010
32, 523
36,088
32,166
30,284
22,180
23, 704
26,596
3,316
1,863
2,443
2,280
7,410
8,123
7,049
6,539
865
1,125
364
820
in the index beginning June 1947. (») Less than $500,000.
50,945
50, 860
37, 590
4,094
9,176
85
64,637
64,383
45, 700
6,993
11,690
254
r
53,159
r
52, 408
r
41,437
r
3, 770
r
54, 366
54, 035
42, 081
3,237
8,717
331
(a)
(a)
119
95
308
111
62
225
377
5 i
12 I
79
2
167
114
CONTRACT AWARDS
Contract awards, 37 States {F. W. Dodge Corp.):
Total projects
numberTotal valuation
thous. of dol.
Public ownership
do
Private ownership
do.-.
Nonresidential buildings:
Projects
number.
Floor area
thous. of sq. ft.
Valuation
thous. of dol.
Residential buildings:
Projects
number.
Floor area
thous. of sq. ft.
Valuation
thous. of dol.
Public works:
Projects
number.
Valuation
thous. of dol.
Utilities:
Projects
number.
Valuation
thous. ofdoL
Value of contracts awarded (F. R. indexes):
Total, unadjusted
1923-25=100.
Residential, unadjusted
do
Total, adjusted
1
do
Residential, adjusted
do
Engineering construction:
Contract awards (E. N. R.)§
thous. of dol.
Highway concrete pavement contract awards:}
Total
thous. of sq. yd.
Airports
do—
Roads
do
Streets and alleys
do
r
33, 088
935,198
324, 226
610, 962
r
4,546
33,802
364, 211
NEW DWELLING UNITS AND URBAN
BUILDING
New permanent nonfarm dwelling units started (U.
S. Dept. of Labor)*
number..
77,200
81,100
86,300
Urban building authorized (U. S. Dept of Labor):
47,203
Urban dwelling units, totalf
number.51,313
46,986
47,167
Privately financed, total
do
51,121
45,981
36,973
1-family dwellings
do
34,591
39,233
3,053
2-family dwellings
do
3,480
3,521
7,141
Multifamily dwellings
do
7,910
8,367
Publicly financed, total..
_
do
1,005
192
r
Revised. » Preliminary. 1 See note marked " t " regarding revision incorporated
7, 201
'751
nber and January is prorated; see note in February 1947 Survey.
^?ecmV
b t h e P a r t . o f t h e estimates based on building permit records has been adjusted for lapsed permits and for lag between permit issuance and start of construction, beginning with
1945. Thus, the new series represents units actually started. Such adjustment was unnecessary prior to 1945 when most building was begun during the month of permit issuance Secondlv
the new series excludes all temporary dwelling units, since these do not add to the country's permanent housing inventory. Data beginning 1910 are available upon request from the U. s!
jJcpSjitrriGiiL oi LiEiDor
SURVEY OF CURRENT BUSINESS
S-6
August 1948
1948
1947
Unless otherwise stated, statistics through
1941 and descriptive notes may he found
in the 1942 Supplement to the Survey
June
July
August
September
October
November
December
January
February
March
April
May
Jure
CONSTRUCTION AND REAL ESTATE—Continued
NEW DWELLING UNITS, ETC.—Con.
Indexes of urban building construction, authorized
(U. S. Dept. of Labor):t
Number of new dwelling units authorized
1935-39=100.Permit valuation:
Total building construction
do
New residential buildings
do
New nonresidential buildings __
do
Additions, alterations, and repairs
do
CONSTRUCTION COST INDEXES
Aberfhaw (industrial buildine)
1914—100
American Appraisal Co.:
Average 30 cities
1913=100
Atlanta
__ __ _ -_ _
do_ __
New York
do
San Francisco..
._ . _
__do
St Louis
do
Associated General Contractors (all types)
1913=100.E. H. Boeckh and Associates, Inc.:
Apartments, hotels, and office buildings:
Brick and concrete:
Atlanta .
,U. S. average 1926-29=100..
New York
do
San Francisco.. ._
_ __
do
St. Louis
do
Commercial and factory buildings:
Brick and concrete:
Atlanta
do
New York
_
do
San Francisco
do
St. Louis
__
do
Brick and steel:
Atlanta
_
do
New York
__ do
San Francisco
do
St. Louis
do_ _
Residences:
Brick:
Atlanta
_ do.
New York
do
San Francisco
_ do_
St Louis
do
Frame:
Atlanta.
_
__do_
New York
do
San Francisco
_ do
St. Louis
__
do
Engineering News-Record:
Building*
1913=100
Construction (all types) <?. __ _ _
_ do.
Federal Home Loan Bank Administration:
Standard 6-room frame house :f
PrrmhiTipri index
1935-39=100
REAL ESTATE
Fed. Hous. Admn., home mortgage insurance:
Premium-paying mortgages (cumulative)
mil. of dol._
Estimated total nonfarm mortgages recorded
($20,000 and under)*
thous. of dol.
Estimated new mortgage loans by all savings and
loan associations, total
thous. of dol_.
Classified according to purpose:
Mortgage loans on homes:
Construction
» . . — . . do
Home purchase
do
Refinancing
do _
Repairs and reconditioning.—
-do
Loans for all other purposes.
do
Loans outstanding of agencies under the Home
Loan Bank Board:
Federal Home Loan Banks, outstanding advances
to member institutions-.mil. of dol...
Home Owners' Loan Corporation, balance of
loans outstanding
mil. of dol—_
Foreclosures, nonfarm, index, adjustedf
1935-39=100..
Fire losses
>
thous. of dol
' 271. 3
271.9
295.9
300.9
324.5
241.9
210.2
192.3
192.0
293.4
372.8
' 308. 8
313.0
r
306.1
405.4
217.8
311.5
323.5
447.9
232.4
279.9
319.5
459.1
216.7
298.1
344.7
516.2
216.5
291.9
285.5
399.8
211.9
219.8
274.0
345.8
228.6
230.8
243.7
309.7
196.2
218.8
236.8
315.9
1S2.2
200.6
360.9
484.5
287.2
274.9
408.6
622.9
253.0
330.1
' 375. 7
r 531. 8
r 265.3
'311.3
391.9
552. 0
275. 0
335. 0
427
448
438
396
421
437
458
442
409
430
446
470
448
417
441
452
475
452
424
446
456
479
469
427
449
464
494
480
429
456
468
501
488
433
459
472
505
491
435
462
475
508
495
436
469
478
514
502
437
470
481
515
503
441
471
. 485
523
503
439
470
486
524
504
439
475
294
295
300
307
312
314
318
320
321
321
321
321
332
160.3
211.2
186.6
187.8
162.4
215.5
188.9
189.9
164.1
216.4
192.5
191.2
165.0
218.5
195.4
192.2
165.5
219.0
196.2
193.6
166.9
219.8
196.8
194.9
168.6
225.1
199.8
198.1
172.1
225.2
201.6
199.4
172.4
233.9
201.9
200.2
173.6
235.9
202.7
200.6
173.6
237.1
202.8
200.6
173.9
237.4
202.9
208.7
182.5
241.2
211.5
210.4
159.6
212. 5
190.6
187.8
161.2
214.9
192.4
189.4
162.3
216.0
197.4
190.8
163.0
217.4
199.6
191.5
163.4
217.8
200.2
192.5
164.5
218.4
200.6
193.4
166.7
224.6
206.8
200.9
172.7
224.8
208.9
202.3
172.9
237.0
209.1
202.9
175.3
238.5
209.5
203.0
175.3
239.3
209.6
202.0
175.5
239.5
209.7
210.7
181.6
245.1
217. 4
211.3
158.8
206.6
188.0
187.5
161.4
209.4
190.8
190.1
165.0
210.4
195.7
192.3
165.8
213.8
198.9
193.4
166.2
214.2
199.5
194.5
169.4
215.1
200.2
196.3
171.4
220.0
202.9
199.6
173.8
220.1
203.9
200.4
174.0
229.9
204.1
201.3
175.3
232.1
204.4
201.5
175.3
234.5
204.6
201.5
175.5
234.7
204.8
209.0
181). 9
237. 4
213. 6
20!). 6
184.0
223.4
195.1
205.6
185.4
225.5
196.7
207.0
185.6
225.9
198.4
207.5
186.9
228.7
207.1
210.7
187.3
229.1
207.7
212.1
189.3
231.3
209.7
217.5
191.9
242.7
212.7
220.6
194.4
239.2
213.8
221.4
194.6
244.8
214.0
223.6
196.2
248.6
214.9
223.8
196.2
249.3
214. 9
223.8
196.4
249.5
215.6
230.0
203. 4
252.4
222. 2
231. 3
187.9
225.0
194.0
207.2
189.3
227.1
195.6
208.6
189.5
227.5
196.3
209.0
191.0
231.0
206.2
213.0
191.4
231.4
206.8
214.0
194.0
234.1
209.3
220.9
196.7
238.8
210.5
224.0
198.5
243.2
211.5
224.8
198.7
246.4
211.7
227.5
199.7
250.7
212.7
227.5
199.7
251.6
212.7
227.5
199.9
251.8
213.6
234.2
2015. 8
253. 6
220.4
235. 5
308.9
413.8
317.8
422.9
322.6
426.4
327.3
434.6
329.2
436.9
333.1
441.1
333.6
441.7
335.5
442.7
334.2
443.6
334.6
443.0
333.9
447.9
339.3
455.8
34'.'.. 4
463.2
184.8
189 0
179.2
185.1
188.5
181.0
7,377
7,473
7,593
7,691
8,547
8,734
279. 7
r
388. 4
r
183.1
' 285.1
304
300
[125
310
307
7,217
7,295
7,816
7,954
8,084
8,244
8,396
947,357
994, 787
988,446 1, 022, 648 1,103, 030
954, 569 1,006,626
909,447
826,874
955, 441
993, 678
999, 456 1,049, 591
323,368
353,105
351,757
356,871
376,000
311,292
310,201
273,202
254,581
318, 602
336,947
332, 441
346,469
69,700
184, 626
28,948
11,963
28,131
85,867
194,057
28, 936
13,410
30,835
83,355
200,183
25, 263
13,018
29,938
86,097
203,443
27, 322
12,297
27, 712
95, 364
208, 488
28, 523
13,213
30,412
76,718
170, 831
24, 747
10,415
28, 581
82,234
163,703
26,042
9,806
28,416
70,274
140,122
25,856
8,679
28,271
66,894
126,462
23,511
8,374
29,340
97, 325
146, 213
29, 677
11, 519
33,868
97, 458
156, 701
30, 973
14,189
37, 626
93,315
161,309
29, 400
14,308
34,109
100,149
169, 206
28, 615
14, U9
34,150
289
292
314
336
360
391
436
392
373
374
397
418
475
557
544
532
520
508
497
486
475
465
454
444
434
424
7.0
50,840
6.9
49,357
6.9
51,359
6.6
47,990
6.6
54, 946
5.8
51, 346
6.7
68,361
6.5
63,010
6.8
71, 521
7.0
74,236
63, 751
59, 256
54, 706
269
269
312
312
313
313
199
199
229
229
320
320
258
258
301
301
291
291
205
205
290
290
303
303
DOMESTIC TRADE
ADVERTISING
Advertising indexes, adjusted :t
P r i n t e r s ' I n k , combined index
Farmpapersc?
Magazines
.
.
Newspapers
Outdoor . . .
Radio
1935-39=100do....
do....
do_.._
do . .
...do—.
r
' 2283
83
331
331
342
342
230
230
287
287
289
289
263
263
283
283
298
298
215
215
303
303
284
284
262
262
308
308
280
280
218
218
319
319
291
291
281
281
309
309
331
331
217
217
289
289
298
298
284
284
321
321
335
335
214
214
287
287
309
309
277
277
314
314
330
330
200
200
258
258
312
312
289
289
350
350
321
321
242
242
312
312
319
319
290
290
351
351
346
346
227
227
322
322
308
308
294
294
392
392
333
333
247
247
294
294
314
314
302
302
'•"400
400
"345
"345
256
256
329
329
312
312
v 300
v 405
v 348
262
279
300
«" Revised.
» Preliminary.
cf Included in index for magazines beginning J a n u a r y 1948.
% Revisions for J a n u a r y 1940-December 1945 are available on request; see also note marked "f" on p . S-5.
* New series. For a description of the series on nonfarm mortgages recorded and data for J a n u a r y 1939 t o September 1942 see p . S-5 of the November 1942 Survey. See note in the February 1947 Survey regarding the Engineering News-Record index of building costs; revisions for November 1946 to March 1947, inclusive: 280.0; 294.6; 301.6; 303.3; 305.2.
f Revised series. T h e index of nonfarm foreclosures has been revised beginning 1938 because of changes in t h e seasonal adjustment factors a n d discovery of certain errors in reporting; revised
d a t a for J a n u a r y 1938—April 1947 are available upon request. Indexes of advertising from Printers' I n k have been completely revised a n d all series are now based on dollar costs; data beginning
1935 and a description of the indexes will be published later. T h e indexes of cost of the standard 6-room frame house are shown on a revised basis beginning i n the April 1946 Survey; revisions
beginning November 1935 will be published later; the indexes were discontinued after J u n e 1947.
SURVEY OF CURRENT BUSINESS
August 1948
Unless otherwise stated, statistics through
1941 and descriptive notes may be found
in the 1942 Supplement to the Survey
June
July
August
1947
September
S-7
1948
October
November
December
January
February
March
April
May
June
DOMESTIC TRADE—Continued
ADVERTISING^Continued
Tide advertising index, adjusted*
1935-39=100.
Radio advertising: §
Cost of facilities, total
thous. of dol.
Automobiles and accessories
_do_-_
Clothing
do...
Electric household equipment
do...
Financial
do...
Foods, food beverages, confections
do...
Gasoline and oil
do.-.
Housefurnishings, etc
do...
Soap, cleansers, etc
do...
Smoking materials
do___
Toilet goods, medical supplies
do.-.
All other
do...
Magazine advertising:
Cost, total
do...
Automobiles and accessories
do...
Clothing
do...
Electric household equipment
do...
Financial
do...
Foods, food beverages, confections
do...
Gasoline and oil
do...
Housefurnishings, etc
do.-.
Soap, cleansers, etc
do.-.
Office furnishing and supplies
do.-.
Smoking materials
do__.
Toilet goods, medical supplies.
do...
All other
_
do...
Linage, total
thous. of lines.
Newspaper advertising:
Linage, total (52 cities).
do_ .
Classified
do...
Display, total..
_
do...
Automotive
do...
Financial
_
...do...
General..
_ _
...do. .
Retail....
do...
GOODS IN WAREHOUSES
Space occupied in public-merchandise warehouses
percent of total.
POSTAL BUSINESS
Money orders:
Domestic, issued (50 cities):
Number
_
.thousands.
Value
-thous. of dol.
Domestic, paid (50cities):
Number
. thousands.
Value
thous. ofdol.
r
243. 6
r 244. 8
r 256. 3
r 261. 0
' 256.8
' 257.8
••238.2
253.5
274.6
271.6
283.9
274.9
14,994
505
100
275
400
3,883
499
167
1,606
1,430
4,516
1,613
14,227
441
130
314
381
4,106
432
172
1,542
1, 595
3, 982
1,132
14,461
485
187
278
393
4,268
439
172
1,483
1,568
3,868
1,318
15,252
527
151
345
367
4,402
428
156
1,715
1,580
4,268
1,314
17,376
597
139
379
471
5,128
420
168
1,704
1,809
4,967
1,594
16,905
739
195
333
440
4,907
450
172
1,499
1,662
4,688
1,820
17, 780
728
92
511
464
5,203
504
152
1,647
1,848
5,033
1,600
17, 544
693
121
569
450
5,000
585
254
1,544
1,798
4,991
1,538
16. 715
717
133
£43
482
4,766
564
232
1,452
1,595
4,694
1,535
17, 803
699
118
603
511
5,122
536
225
1,734
1,770
5,031
1,456
17, 077
711
121
603
483
4,893
441
177
1,672
1, 718
4,857
1,401
17, 321
662
152
651
481
4, 859
432
192
1,775
1,746
4,808
1,567
27,688
2,604
1,887
1,012
585
4,517
304
1,117
613
414
918
3,793
9,923
3,641
37,486
2,771
3,640
1,590
666
6,311
381
1,916
1,155
495
883
5,584
12, 094
4,175
47,992
3,450
6,121
2,446
726
6,748
640
2,802
1,104
850
990
6,304
15,810
4, 581
45, 917
3,442
5,004
2,719
715
5,905
848
3,556
1,270
691
1,019
5,711
15, 037
4,391
52,011
4,241
5,152
3,137
784
6,657
1,048
4,129
1,532
1, 054
1,215
5,702
17,360
4,288
271.0
40,033
2,772
3,125
1,376
654
5,348
683
2,667
1,173
763
1,125
5,926
14,421
3,413
3,377
4,132
i 99,308
i 7, 555
i 10,191
i 3,872
i 1, 567
i 13, 543
1
2,142
16,051
i 2, 558
11,650
i 2,827
112,771
1
34, 582
4,738
4,763
4,474
»126,436
2
7,308
2
13,191
2
7,017
2
1,833
2
17,399
2
1,331
2
9,952
2
2, 585
2
2, 532
2
3,073
2
15,691
2
44, 524
3,229
163,130
39, 341
123, 789
7,014
1,933
26,011
88, 831
145,263
37, 778
107,485
6,214
2,299
22,467
76,505
157,980
40,625
117,355
6,107
1,769
22,881
86,597
173,871
41,610
132,262
5,438
1,809
27,171
97, 843
198,478
44,141
154, 337
6,552
2,194
33,444
112,148
194, 808
41,447
153,361
5,957
2,033
32,004
113,367
186,913
37,530
149,383
5,215
1,986
24,935
117,247
155,428
39,600
115,828
5,180
2,896
20,404
87,348
167,945
40,048
127,897
6,181
1,869
25,477
94,369
189, 555
43,985
145,571
6,394
2,225
28,106
108,846
197, 221
45, 848
151,373
7,047
2,295
30, 475
111, 557
197, 809
47, 643
150,166
7,557
2,120
31,092
109,396
185, 847
43,999
141, 848
8,814
2,203
28,365
102. 467
88.1
88.3
87.
86.8
87.6
88.1
88.2
88.5
89.2
88.8
87.4
87.6
4,177
87, 284
4,334
87,320
3,822
81,664
4,041
89,874
4,401
91,665
4,185
85,095
4,710
91,655
4,586
92,651
4,339
86,412
5,281
106,540
5,122
95, 871
4,470
88, 565
4,733
94,494
16, 948
178,353
13,253
186,565
12, 587
166,697
13,334
197,141
15, 371
223,262
13,922
196,844
15,652
214,581
14,412
201,299
13,135
186,247
16, 749
240,369
15, 552
220,748
14,252
198,921
15, 267
217,320
PERSONAL CONSUMPTION EXPENDITURES
Seasonally adjusted quarterly total at annual rates: *
r
164.2
165.6
171.1
All goods and services
bil. of dol_.
172. 0
175.1
21.1
21.1
22.1
Durable goods
do.
21.4
22.3
7.4
7.2
7.
Automobiles and parts
do
'7.7
7.7
9.8
9.9
10.3
Furniture and household equipment. doZIZI
9.8
10.7
3.9
3.9
4.0
Other durable goods
_._do_
'3.9
3.9
96.3
96.
100.2
Nondurable goods
do_
102.4
19.6
19.2
20.0
Clothing and shoes
.".Idol
'18.9
20.1
r
57.5
58.3
59.6
Food and alcoholic beverages
do.
61. 3
61.6
3.6
3.7
3.8
Gasoline and oil
I dol...
3.9
3.9
1.8
1.8
1
Semidurable house furnishings
do
1.9
1.8
3.9
3.9
Tobacco __
___ _do
4.0
4.0
3.9
9.8
10.0
10.9
Other nondurable goods
do
10.9
46.7
47.7
48.8
Services.
_ _
_do
49.6
50.4
6.9
7.0
7.
Household operation
do
7.5
7.6
14.1
14.6
15.2
Housing
do
15.4
15.7
3.2
3.2
3.2
Personal service
_
.do
3.2
3.2
3.8
3.8
3.8
Recreation...
do—
3.9
3.8
4.4
4.5
4.5
Transportation
___ _do
4.6
4.5
14.3
14.5
Other services
do__I.
14.8
15.4
15.1
RETAIL TRADE
All retail stores:f
r
9.489
9,357
9,629
10,141
10,910
10, 727
Estimated sales, total
mil. of dol__
8,921
10,614
10,633
10,711
12,657
9,695
10, 755
r
2,402
2,403
2,396
2,582
2,831
2,638
Durable goods store
.do
2,137
••2,834
2,678
2,958
2,316
2,714
2,887
r
987
1,014
994
1,052
1,148
1,070
Automotive group..
_
do
995
2,242
1,272
1,088
1,080
1,062
1,183
839
861
839
899
988
910
Motor vehicles
do
886
911
946
1,086
1.133
931
1,005
148
153
155
152
160
160
Parts and accessories
do
168
109
117
156
139
'157
178
741
770
763
839
941
796
Building materials and hardware
do
606
809
680
878
757
'893
956
r
476
509
514
575
645
Building materials
do
528
495
398
450
567
491
584
636
77
70
77
92
71
Farm implements
_
do
71
61
62
71
82
98
93
101
187
179
184
193
204
Hardware
.do
197
146
252
159
183
214
216
219
570
550
536
594
641
Homefurnishings group
do
651
466
791
496
571
632
638
645
368
347
334
385
408
Furniture and housefurnishings
do
425
294
496
310
362
405
429
416
202
203
202
210
233
Household appliance and radios
do
225
172
295
186
209
227
218
229
104
89
84
97
101
Jewelry stores
.do
71
121
279
82
78
95
78
103
«• Revised.
» Total for July, August and September. 2 Total for October, November and December.
$ Beginning January 1948, data include advertising in farm magazines and several other magazines not included previously and data for stoves and ranges other than electric formerly
classified under house furnishings, are included under electric household equipment and there have been additional minor changes in the classifications. More complete information on these
changes will be published later.
*New series. The Tide index of advertising has been revised beginning 1936. Revisions for January-May 1947: 234.9; 235.8; 243.9; 243.9; 244.5. Earlier data and a description of the series
i - " ^ " u ^ ^v/^i^o.
~w
"vuv/ »^i««vv*
i
VJJ. t/. ^
. vr* v"v/ ~^t-vv,-~~v,« *.*,*..
~~n. ,vj
•«• *.WV/IVAI-I^V/ u«-r i;ui/«.« b " ' " 6 vic*uc» u i u u u g u omac l o t t ai±u. ±w±u icvioiuuB ivi
Boiro vi aii r e t a i l s t o r e s
i n e season-
ally adjusted indexes beginning 1942 shown in those tables and later data published currently on p. S-8 were recently revised because of changes in the seasonal adjustment factors and both
the dollar figures and indexes beginning January 1946 were revised in the January 1948 issue, largely because of adjustment of the series to sales tax data for 1946; all data shown above are on
the revised basis; revised dollar figures for all months of 1946 and revised indexes for 1942-46 are shown on p. 10 of the January 1948 Survey.
SUEVEY OF CURRENT BUSINESS
S-8
Unless otherwise stated, statistics through
1941 and descriptive notes may he found
in the 1942 Supplement to the Survey
August 1948
1947
June
August
July
1948
September
November
October
January
December
February
April
March
June
May
DOMESTIC TRADE—Continued
RETAIL TRADE—Continued
All retail storesf— Continued
Estimated sales—Continued
Nondurable goods stores
mil. of dol. _
Apparel group
do
Men's clothing and furnishings
do
Women's apparel and accessories
do
Family and other apparel
do
Shoes
do
Drugstores
do
Eating and drinking places
do
Food group
_______
do
Grocery and combination
do
Other food
.,___
do
Filling stations
do
General merchandise group
do
Department, including mail-order
do
General, including general merchandise
with food
mil. of dol.
Other general mdse. and dry goods.__flo
Variety,_.__^^--------~-.-.-,,..-do
Other retail stores-.--.*.---do
Feed and farm supply
do—
Fuel and ice
do
Liquors
do
Other
do
Indexes of sales:
Unadjusted, combined index
1935-39=100..
Durable goods stores
do
Nondurable goods stores
do
Adjusted, combined index
do
Durable goods stores
do
Automotive
do
Building materials and hardware
do
Homefurnishings
do
Jewelry
do
Nondurable goods stores
do
Apparel
do
Drag
do
Eating and drinking places
do
Food
do
Filling stations
do
General merchandise
do
Other retail stores
do
Estimated inventories, total*
mil.of dol__
Durable goods stores*
do.
Nondurable goods stores*
do.
Chain stores and mail-order houses:f
Sales, estimated, total*
_do_
Apparel group*
do.
Men's wear*
do_
Women's wear*
do_
Shoes*
do.
Automotive parts and accessories*
do___
Building materials*
do..,..
Drag*
do
Eating and drinking*
do—
Furniture and housefurnishings*
do—
General merchandise group*
do
Department, dry goods, and general merchandise*
mil. of dol_.
Mail-order (catalog sales)*
do—
Variety*
do___.
Grocery and combination*
do
Indexes of sales:
Unadjusted, combined index*
1935-39=100._
Adjusted, combined index*
do.
Apparel group*.
do.
Men's wear*...
do.
Women's wear*
do.
Shoes*.
-do.
Automotive parts and accessories*
do
Building materials*
do.
Drug*..
do.
Eating and drinking*
do.
Furniture and housefurnishings*
do
General merchandise group*
do
Department dry goods, and general merchan^
dise*
1935-39=100..
Mail-order*
do.
Variety*
do. __
Grocery and combination*
.do
Department stores:
Accounts, collections, and sales by type of pay
ment:
Accounts receivable:
Charge accounts§
1941 average=100__
Instalment accounts!
do
Ratio of collections to accounts receivable:
Charge accounts §
percent..
Instalment accounts §
do.
Sales by type of payment: *
Cash sales
percent of total sales..
Charge account sales
do
Instalment sales
do.
7,087
707
189
291
96
131
290
1,032
2,518
1,995
523
440
1,195
153
120
134
905
249
155
134
368
6,954
558
134
241
77
106
293
1,052
2,618
2,083
535
472
1,074
677
7,233
606
139
271
86
110
300
1,089
2,714
2,170
544
485
1,156
743
155
110
133
887
251
153
134
349
157
115
140
884
238
139
148
359
7,559
8,079
8,089
825
201
367
114
143
298
858
212
387
120
139
307
906
247
395
134
131
296
1,086
2,609
2,063
1,131
2,825
2,243
1,033
2,768
2,212
1,085
2,995
2,377
1,345
1,457
986
1,605
1,111
2,207
1,478
160
132
146
930
244
170
132
384
168
168
141
162
149
177
985
214
189
162
420
194
210
326
546
466
907
582
483
1,018
266
181
162
409
556
496
9,699
1,202
350
495
182
174
401
618
496
1,313
245
260
246
562
7,379
627
156
285
87
98
293
1,008
2,873
2,308
565
479
1,081
719
6,784
565
136
262
79
88
280
942
2,592
2,060
532
435
1,033
690
7,955
854
194
394
116
151
300
1,043
2,842
2,247
594
495
1,384
940
7,779
738
170
346
96
126
289
1,047
2,850
2,255
595
523
1,336
910
136
104
122
1,019
240
309
146
325
122
97
125
938
223
278
131
306
148
127
168
1,038
278
243
145
372
160
125
142
996
294
166
144
393
293.0
287.2
294.9
324.5
330.3
260.9
394.1
441.1
410.1
322.6
290.5
254.8
418.7
372.3
243.3
248.8
351.0
12, 779
4,358
8,421
295.2
285.8
298.3
322.1
326.2
261.5
390.2
425.2
388.6
320.8
292.1
255.3
418.9
369.0
238.8
249.0
346.1
13, 625
4,634
8.991
321.0
325. 3
319.6
327.9
341.9
287.6
389.9
433.9
391.6
323.3
292.6
256.1
422.4
371.8
251.7
253.3
339.1
14, 280
5,011
9,269
p
7,868
76»
7,998
763
'178
r
351
100
134
r
301
1,064
2,964
2,348
616
550
1,360
r
906
199
325
98
136
298
1,051
2,844
2,232
612
552
1,358
906
171
131
153
'995
269
182
'143
402
170s
130
152*
1,005
276184
136
410
330.4
356.6
321.8
336.5
357.8
296.4
408.2
469. 6
404.7
329.6
298.2
251.4
425.5
376.4
261.6
268.7
338.6
14,164
4,946
9,218
329. 9
345. 4
324. 9
r
328. 2
r
331. 4
r
243. 0
r
412. 0
480.3
400.8
r
327. 2
r
302. 2
r
250. 2
r
410. 5
372.5
252. 7
r
269. 7
r
343. 8
1 3 , 992
r
4, 925
r
9,067
335.4
362.6
326. 5
333.7
346.3
264.2
425.9
476.5
412.3
329.6
312.0
253.6
413.9
367.3
253. 0
276.0
352. 9
r
13, 802
r
4, 998
' 8, 804
r
r
2,348
386.1
367.5
392.1
329.9
340.5
265. 0
408.3
463.8
426.3
326.5
310.8
251. 4
423.1
363.4
230.2
272.6
353.8
12, 426
4,148
8,278
2,851
246
44
109
72
42
112
66
52
27
593
253
47
113
71
41
117
69
54
29
645
260
55
116
67
47
88
68
50
35
696
352
65
162
96
56
76
97
54
42
954
2,014
173
32
80
46
28
80
66
51
21
449
1,874
170
30
82
44
28
68
66
49
22
431
2,313
288
48
138
78
37
81
69
54
28
599
2,267
240
42
112
65
44
102
65
52
28
586
2,355
256
40
r
126
70
r
46
••110
67
52
28
588
2,313
256
43
120
73
50
116
67
52
29
604
82
121
722
347
108
126
662
366
126
140
754
399
132
153
755
528
130
281
786
249
84
105
804
230
84
108
725
330
113
146
797
348
103
123
792
357
86
132
844
365
95
132
770
258.3
280.5
306.5
292.1
382.3
241.2
232.4
328.6
222.9
222.8
243.1
273.9
257.0
280.3
300.6
305.7
360.3
240.8
240.0
333.7
229.0
220.2
245.9
272.4
295.6
291.0
326.1
346.5
390.2
253.7
228.3
361.5
229.7
221.3
265.1
286.3
301.6
287.7
300.8
288.5
365.9
246.6
213.3
334.8
227.2
218.7
218.5
275.0
320.0
297.4
323.3
333.7
398.0
244.8
250.4
326.1
226.0
211.9
279.3
292.6
377.2
301.9
320. 8
304.5
397.3
256.9
251.8
334.4
226.8
219.1
269.3
306.0
259.1
289.9
281.1
278.0
353.5
211.2
205.3
355.0
228.0
220.5?
261.1
268.4
269.1
292.7
293.2
285.5
373.8
217.5
206.2
345.6
234.5
223.0
258. 7
271.9
303.2
300.6
305.7
282.5
393.9
232.3
223.1
332.5
231.6
228.6
261.7
286.0
304.1
313.9
326.8
299.4
419.8
247.3
254.2
358.3
225.3
227.5
252.7
313.8
310.9
311.3
322. 5
299. 7
416.3
243. 3
251. 9
360. 6
227. 7
226. 8
264.8
297.9
312. 6
313.1
323.9
306.7
413.3
245.4
255.6
387.6
227.8
235.6
273.8
311.3
332.6
265.8
193.7
316.7
329.0
270.0
192.7
320.5
322.4
276.3
194.2
322.4
347.9
259.0
208.7
326.0
322.7
265.7
207.4
339.5
347.9
283.0
214.7
338.1
350.5
305.0
240.4
337.5
322.3
256.5
193.4
350.1
322.3
256.3
205.4
353.7
343.6
263.0
212.7
359.8
387.4
285.1
220.3
363.3
364.4
283.3
206.1
371.0
374.1
315.1
215.3
357.4
165
146
145
84
'166
181
95
204
111
••263
87
'205
127
181
124
190
129
192
131
193
'134
193
136
53
67
31
55
54
29
49
30
53
27
51
25
52
24
52
24
53
40
63
40
54
39
63
40
52
41
7
7
7
7
7
51
41
8
52
41
7
52
41
7
302.9
309.4
300.8
301.6
297.7
222.1
343.1
444.2
442.6
302.9
300. 3
248.8
406.5
329. 0
201.9
253.1
329.5
11, 594
3,954
7,640
287.1
298.4
283.4
301.2
296.9
222.8
353. 4
426.7
417.4
302.6
293.8
246.5
409.6
329.8
221.7
251.6
317.5
11,431
3,878
7,553
289.7
297.3
287.2
298.0
297. 5
220.4
359. 5
428.4
416.0
298.1
277 0
252.3
406.0
324.4
221.3
249.5
313.4
11,815
3, 954
7,861
323.6
332.6
320.7
314.7
322.5
243.1
388.3
455 6
438^6
312.1
313.9
254.6
418.3
340.6
218.7
258 0
329.2
12,155
4,013
8,142
1,997
229
39
103
68
44
93
65
50
26
509
1,938
181
25
88
53
45
97
65
52
24
473
2,036
187
27
90
55
46
99
68
52
25
518
2.133
304
77
116
661
279
68
115
683
277.1
280.9
305.0
286.7
388.1
233.4
241.6
325.1
223.9
226.5
256. 9
275.2
54
55
53
51
28
56
38
6
31
54
40
6
328.6
343.1
323.9
317.6
327.6
255.8
395.8
439.4
409.1
314.3
293.8
257.1
426.7
355. 2
219.6
248.4
335.1
13, 099
4,182
8,917
2,319
342.1
348.6
340.0
324.7
331.5
252.1
401.2
464. 8
415.4
322.5
321.5
254.4
408.6
357.0
240.9
266.6
343. 3
13, 487
4,195
9,292
136
23
r
r
r
r
r
r
r
r
r
r
••Revised. § M i n o r revisions in t h e figures p r i o r to N o v e m b e r 1941 are available on r e q u e s t . » P r e l i m i n a r y .
e
*New series. See note m a r k e d " * " on p . S-8 of t h e S e p t e m b e r 1947 S u r v e y for reference to tables giving d a t a t h r o u g h 1943 a n d 1945 revisions for t h e chain-store series; t h e adjusted
indexes beginning 1942 shown in those tables a n d later d a t a p u b l i s h e d currently were revised recently because of changes in t h e seasonal a d j u s t m e n t factors a n d t h e dollar figures for t h e general merchandise group a n d t h e total beginning J a n u a r y 1946 were revised in t h e J a n u a r y 1948 S u r v e y , necessitating further corrections in indexes for 1946 a n d 1947; revised indexes forl942-46
a n d dollar figures for 1946 for t h e t w o series affected are s h o w n on p . 11 of the J a n u a r y 1948 S u r v e y . See p . S-9 of t h e A u g u s t 1944 S u r v e y for d a t a beginning J u n e 1943 for t h e series on d e p a r t m e n t store sales b y t y p e of p a y m e n t . Revised year-end figures for 1929, 1933 a n d 1935-46 for inventories of retail stores are s h o w n in t h e article " R e v i s e d E s t i m a t e of Retail I n v e n t o r i e s ,
1929-48" are shown on p . 23 of t h e J u n e 1948 Survey; m o n t h l y figures beginning J a n u a r y 1941 are s h o w n on p . 31 of t h e J u l y 1948 S u r v e y .
tRevised series. D a t a were revised in t h e J a n u a r y 1948 S u r v e y ; see note m a r k e d " t " on p . S-7 for explanation a n d reference to revised d a t a .
SURVEY OF CURRENT BUSINESS
August 1948
Unless otherwise stated, statistics through
1941 and descriptive notes may be found
in the 1942 Supplement to the Survey
S-9
1948
1947
June
July
August
September
October
November
December
January
February
March
April
May
June
DOMESTIC TRADE—Continued
RETAIL TRADE—Continued
Department stores—Continued
Sales, unadjusted, total U. S.f
1935-39=100.
Atlantaf
_do___
Boston t
do...
Chicagof
_do._.
Clevelandf
do...
Dallasf
_do_._
Kansas Cityf
do...
Minneapolis!
do
New Yorkf
do...
Philadelphia!
do...
Richmondf
do__St. Louisf
do...
San Franciscof
do...
Sales, adjusted, total U. S.f
do...
Atlantaf
do___
Boston f
do...
Chicagof
do.__
Clevelandf
do...
Dallast
.do...
Kansas Cityf
do
Minneapolis!
do___
New Yorkf
do...
Philadelphiaf
do___
Pichmondf
do
St. Louisf
do___
San Francisco t
do...
Stocks, total U. S., end of month :f
Unadjusted
1935-39=100.
Adjusted
do
Mail-order and store sales:
Total sales, 2 companies
thous. of dol_
Montgomery Ward & Co
do...
Sears, Roebuck & Co
do.__
Rural sales of general merchandise:
Total U. S./unadjusted
1929-31-100.
East
do___
South
do...
Middle West
do__.
Far West
do___
Total U. S., adjusted
do...
East
do...
South
do.__
Middle West
do...
Far West
do...
WHOLESALE TRADE
Service and limited function wholesalers:*
Estimated sales, total
mil. of dol.
Durable goods establishments
do
Nondurable goods establishments
do...
All wholesalers, estimated inventories*
do___
266
307
232
270
267
'308
•"282
'263
231
238
278
269
'303
'289
365
249
278
284
'362
'306
'277
249
'255
317
299
'334
219
269
164
219
220
288
250
217
171
185
215
249
'282
286
336
237
281
281
378
298
268
251
257
301
320
'331
236
310
176
224
237
327
277
242
179
193
233
264
'311
283
352
234
266
273
376
307
271
246
258
282
307
'352
299
368
248
296
293
387
336
311
244
266
322
340
'345
292
361
236
290
290
368
323
287
239
266
303
337
'345
298
372
234
284
290
396
336
304
253
280
324
330
350
277
348
211
266
271
360
320
276
226
265
297
308
'340
374
460
306
364
371
507
392
335
323
370
394
428
'421
302
383
248
298
296
415
335
281
248
280
310
339
'348
483
619
419
455
479
633
505
424
498
460
542
516
'571
303
394
243
293
309
388
334
277
241
277
322
337
'361
224
284
170
217
216
316
245
214
192
204
214
239
'381
284
355
216
271
284
390
306
286
240
272
286
291
'348
237
316
174
225
233
324
254
206
202
216
245
258
'295
283
359
223
281
284
368
292
267
241
280
306
307
'327
284
387
228
266
284
384
301
263
234
284
317
318
'326
284
368
235
274
270
384
307
278
229
263
317
318
'339
287
366
231
283
280
399
320
284
237
262
295
326
333
304
390
233
289
295
448
337
283
255
278
321
343
'362
'300
375
240
289
304
393
*326
294
252
287
'311
333
'339
'310
394
242
289
320
418
*336
237
242
232
231
245
227
256
231
283
251
295
273
243
283
252
288
278
303
302
312
307
308
296
'296
P278
253,091
89,635
163,456
231, 957
84, 330
147,627
254, 738
97, 334
157, 405
306,643
117, 507
189,136
333,123
127,144
205,979
355, 255
129, 206
226,048
415, 686
148,113
267, 573
230, 794
74,116
156, 679
215, 575
75,631
139,944
301,627
107,103
194, 524
319,342
115,382
203, 959
297,939
104,612
193, 327
308,843
105,305
203, 538
287.7
278.0
384.3
251.1
335.3
315.8
302.8
478.0
266.0
351.8
243.1
223. 2
332.0
215.1
288.7
333.0
313.5
489.0
291.5
352.1
306.6
297.0
403.9
262.5
372.8
374.8
372.6
560.2
318.2
404.8
375.9
340.6
523.6
320.8
446.9
355.6
346. 5
474.3
313.0
381.9
405.1
398.1
612.6
333.4
446.3
311. 8
309.3
413.3
262.5
371.6
484.6
491.4
727.8
405.4
515.3
372.5
381.2
530.1
309.2
424.8
466.6
448.6
644.9
389.9
568.2
291.8
269. 4
429. 3
249.9
348.1
273.8
262.8
423.8
224.6
301.4
359.7
345.8
535. 7
293.6
410.1
299.8
295. 7
462.6
250. 5
309.4
370.5
361.5
507.3
315.1
418.1
358.8
370.4
485.1
309.4
382.3
408.6
412.4
537.2
349.2
464.5
342.6
343.3
467.7
293.4
375.6
372.8
360.2
530.8
314.2
420.6
' 322.1
306.9
428.4
' 277. 5
362.7
' 350. 9
333.6
505.1
' 293. 0
403.4
333.6
320.5
433.2
293.6
399.7
366. 2
349.1
538.8
311.0
419. 4.
' 5,065
' 1, 792
' 3, 273
6,755
' 5,230
' 1, 734
' 3, 496
6,660
' 5, 342
' 1, 766
' 3, 576
6,768
' 5,912
' 1, 923
' 3,989
6,888
' 6, 679
' 2,144
' 4, 535
6,930
' 6,036
' 1,967
' 4,069
7,370
' 6,178
' 2,046
' 4,132
7,499
' 5, 720
' 1,874
' 3,846
7,634
' 5, 282
' 1, 867
'3,415
7,835
' 5,868
' 2,143
' 3, 725
8,200
' 5, 815
' 2,193
' 3, 622
8,115
' 5, 517
' 2,047
' 3, 470
8,078
' 5, 732
' 2,114
' 3, 618
8,122
P306
268
284
'313
340
'364
333
*>241
290
288
345
*301
277
246
266
294
311
P338
P313
397
P259
299
306
406
*328
292
265
283
335
346
*>373
J>284
EMPLOYMENT CONDITIONS AND WAGES
EMPLOYMENT
Employment status of noninstitutional population:*
Estimated number 14 years of age and over,
total
thous.. 107,407 107, 504 107, 590 107,675 107,755 107,839 107,918 107,979 108,050 108,124 108,173 108,262 108, 346,
55,071
54,969
55,021
54,889
54,934
54, 805
54,844
54, 759
54, 561
54,612
54, 661
54,710
64, 606
Female
do
53,275,
53, 204
53,113
53,080
52,943
52, 978
53,045
52,901
53,241
53,190
53,135
53,014
53,161
Male
do
1,261
Armed forces
do
1,236
1,238
1,226
1,236
1,280
1,241
1,294
1,371
1,352
1,326
1,327
1,398
63,479>
60, 524
59, 769
59,590
59, 214
60, 216
62,664
61,665
60, 784
60,892
62,609
60,422
59, 778
Civilian labor force, total
do
18,685,
Female
do
17,155
17,124
16, 752
16,760
16,698
16, 368
17,068
17,803
17,125
37,233
17,449
18,149
44, 794
43,026
43,009
43,369
42,892
44, 460
44, 861
44, 540
43, 55]
43,443
43,148
Male
do
43,298
42, 846
61,296,
60,079
59,204
58, 595
59, 569
Employed
do
60,055
57,329
58,330
58,872
57, 947
57,149
57,139
58,660
17,876.
Female
do
16,002
16.085
16, 529
16,602
16,294
15,876
17, 302
17,008
16,547
16, 714
16, 944
16,623
43,420
Male
do
41,137
41,244
41,801
42,058
41, 653
41, 273
42, 753
43, 071
43,022
42,158
42, 260
41, 972
6,771
7,448
7,861
6,962
10, 377
10,066
8,975
8,727
8,622
7,985
Agricultural employment
do
9,396
6,847
7,060
Nonagricultural employment
do
51,899
50,368
50,482
50, 883
50,800
50, 985
50,089
49,678
50, 013
50, 594
50,145
50, 583
50,609
Unemployed
do
2,184
2, 639
2,440
2,193
1,761
1,643
2,555
2,584
2,121
1,912
1,687
1,621
2,065
Not in labor force
do
47,119
46,414
43,605
47,047
43,399
43,469
44, 573
45, 544
45, 535
46,330
46,602
47,046
47, 524
Employees in nonagricultural establishments:!
Unadjusted (U. S. Department of Labor):
44,758
43,686
44,918
44,125
44, 513
' 44,298
45,618
44,279
' 44, 600
Total...*
thous.. 43, 816
' 44,609 v 44,913,
44,603
Manufacturing
do
15,945
' 15,893 v 16,058
16,354
16,183
15, 580
15, 962
16,175
16, 209
16, 256
15,672
16, 267
16,269
Mining
do
P936
'820
'933
925
922
914
922
890
923
921
922
923
919
Construction
do
P 2,182
' 1,933
' 2,049
1,978
1,871
1,731
1,805
2,043
2,096
2,107
2,099
2,046
1,957
3,977
' 4,041
P 4, 092
4,071
4, 019
4,032
4,155
4,163
4,134
4,097
4,077
Transportation and public utilities
do
4,129
4,020
' 9, 574
10, 288
9,622
9,520
9,599
9,316
9,356
9,471
9,684
9,886
9,324
v 9, 648,
Trade
do
'9,615
p 1, 727
Finance
do
1,704
'1,716
1,676
1,680
1,690
1,697
1,675
1,688
1,668
1,671
1,673
1,650
p 4,663;
4,729
4,686
4,619
4,634
4,662
4,670
4,711
' 4,738
4,688
4,730
Service
do
4,768
4,723
p 5, 607
5,341
5,414
5,454
5,492
5,387
5,546
5,318
5,403
Government
do
5, 577
5,624
5,638
5,498
Adjusted (Federal Reserve):
44, 291
44,625
43, 854
44, 557
Total
do
44, 800
44,755
44,
791
43,967
43, 860
' 44, 583
' 44, 719 P 44,955,
45,019
[16, 266
16,332
15, 705
15,804
16,039
16,161
16, 216
Manufacturing
do
15, 725
' 16,040
16, 246
p 16,114
'16,019
16, 208
Mining
.._
...do
p 933
'934
926
920
883
916
918
919
922
916
'823
927
'930
1,927
1,969
1,999
2,006
1,900
1,941
1,959
Construction
.do
P2.118
2,018
2,056
1,945
' 1,972
' 2,029
Transportation and public utilities
do
P 4,043
4,069
4,089
4,097
4,102
4,128
4,101
4,080
4,080
' 4,027
4,075
4,071
3,998
9,542
9,664
9,636
9,430
p 9,757
9,694
9,458
9,497
9,613
9,679
' 9, 634
Trade
do
' 9, 719
' 9,687
'Revised. ^Preliminary.
•New series. Revisions for San Francisco—January-May 1947: Unadjusted 256; 283; 301; 306; 309; adjusted 316; 313; 320; 324; 332. Revisions for 1943-46 will be published later. Estimates
of the labor force for November 1945 to date have been published on a revised basis beginning in the January 1947 Survey; earlier revisions for these series and 1940-46 data for the series on noninstitutional population will be published later.
fRevised series. For 1919-45 data for the index of department store stocks see p. 24 of August 1946 Survey. See notes marked "f" o n P- S-9 of the June 1948 Survey and p. S-8 of the September 1947 issue regarding revisions in the indexes of department stores sales. Revised annual estimates for wholesalers' sales and inventories are on p. 23 of this issue. Monthly data for
inventories for this page are not comparable with revised annual data but will be revised in the next issue of the Survey. Monthly data beginning 1939 for sales and 1938 for inventories will
be published later. The estimates of employees in nonagricultural establishments have been revised to adjust the series to Federal Security Agency data through 1946. Recent revisions affected
the unadjusted series beginning 1946 for manufacturing, mining, and government, 1945 for construction, trade, finance, and the total, and January 1937 for transportation and utilities and did
not affect data for the service group; see note marked "V on p. 8-9 of the September 1947 issue regarding published and unpublished earlier revisions in the unadjusted series. There have,
been recent revisions in the seasonally adjusted series affecting thefiguresin most cases back to 1939. All revisions through April 1947 will be published later.
SUKVEY OF CURKENT BUSINESS
S-10
Unless otherwise stated, statistics through
1941 and descriptive notes may be found
in the 1942 Supplement to the Surrey
August 1948
1947
June
July
August
September
1948
October
Novem- December
ber
January
February
March
April
May
June
EMPLOYMENT CONDITIONS AND WAGES—Continued
EMP LO YM E N T — C o n t i n u e d
Estimated production workers in manufacturing
industries, total (IT. S. D e p t . of Labor)*
1
12, 723 v 12,871
12,788
13,066 ' 13,131
13.143
12,928
12,562
13,263
13.176
13,125
12,672
13,150
thousands..
' 6, 630 v 6, 624
' 6.791
6,711
6.681
6,630
6, 555
6,452
6,795
6,816
6,746
6,639
Durable goods industries
do
' 1,600 P 1, 607
1,634
1,603
1,604
1,634
6,628
1,609
1,597
1,569
1,633
1,619
1,588
Iron and steel and their products
do
Blast furnaces, steel works, and rolling mills §
518
512
516
499
509
509
498
498
503
498
498
501
thousands..
'548
563
577
588
588
578
584
569
567
596
595
584
Electrical machinery.
do
'1,207
v 1, 208
1,202
1,232
1,214
1,209
1,198
1.231
1.237
1,171
1,235
1,218
1.208
Machinery, except electrical...
do
490
496
500
499
499
495
500
503
491
499
497
501
Machinery and machine-shop products §_. do
48
48
49
52
52
50
50
53
51
51
51
54
Machine tools§.__
_
do
'759
'772
'784
789
764
767
741
753
720
785
766
758
Automobiles
do
Transportation equipment, except automobiles
'438
462
465
414
472
464
427
452
405
403
472
463
thousands. .
125
137
136
135
134
130
135
133
133
131
129
134
Aircraft and parts (excluding engines) J_do
25
25
25
25
26
27
25
26
26
27
27
27
Aircraft enginest
do
116
126
123
128
100
126
93
133
118
87
88
140
Shipbuilding and boatbuilding}:
do
'398
*400
413
409
404
406
413
400
409
410
396
393
408
Nonferrous metals and products
do
'768
*>790
749
736
751
751
750
738
745
751
745
721
727
Lumber and timber basic products
do
549
537
527
550
544
537
531
550
547
552
531
535
Sawmills and logging camps§
do
458
485
490
475
487
470
489
466
483
445
452
460
F u r n i t u r e and finished lumber products__do
247
233
249
239
247
249
240
233
244
224
227
230
Furniture§__.
do
452
443
475
'454
487
445
451
466
483
445
452
460
Stone, clay, and glass products,
do
6,340
6,
355
6,462
'
6,093
6,447
6,355
P 6, 247
6,108
6,495
6,430
6,033
6,373
6,110
Nondurable goods industries
do
Textile-mill products and other fiber manufac1,293
1,312
P 1, 293
1,301
1,292
1,306
1,223
1,249
1,202
1,187
1,290
1,271
1,208
tures
thousands..
Cotton manufacturing, except small wares §
525
526
529
524
525
499
508
523
494
502
493
517
thousands..
112
112
112
107
111
106
103
102
108
102
107
100
Bilk and rayon goods§
do
Woolen and worsted manufactures (except
173
175
178
177
169
180
171
177
163
174
158
163
dyeing and
finishing)§__
thousands..
Apparel and other finished textile products
' 1,082
p 1,081!
1,103
1,165
1147
1,166
1,096
1,127
1,071
992
1,143
993
1,117
thousands..
310
310
315
311
299
308
307
295
278
311
285
309
M e n ' s clothing§.._
...do
428
440
482
485
452
462
476
400
471
440
389
452
Women's clothingf
do
'360
pzm
372
396
402
390
393
373
399
400
370
385
396
Leather and leather products...
do
204
213
230
233
225
226
217
231
214
232
223
228
Boots and shoes§
do
'1,086
p
1.211.
1,047
1,049
1,311
1,192
1,483
1,191
1,159
1,255
1,353
1,442
1,288
Food and kindred p r o d u c t s . .
do
219
218
220
217
213
220
217
215
221
225
218
225
Baking§..__
do
137
127
122
246
155
384
123
149
240
129
350
172
Canning and preserving§
do
116
100
181
182
176
182
187
204
183
197
183
'192
Slaughtering and meat packing§.
do
'
84
86
87
84
84
86
88
88
89
87
85
Tobacco manufactures
do
90
389
389
393
380
388
388
392
398
392
/ »
395
387
394
Paper and allied products
do
200
200
194
195
201
197
200
200
197
200
197
Paper and pulp§
do
198
Printing, publishing, and allied industries
433
432
435
437
.484
439
438
441
434
431
445
430
444
thousands..
147
145
145
144
144
144
145
143
146
142
142
145
Newspapers and periodicals§_
do
176
178
175
178
182
180
181
176
183
176
176
182
Printing, book and job§
do
572
587
*572
576
580
588
588
586
563
592
562
589
561
Chemicals and allied products
do
196
196
195
198
198
197
195
196
198
198
196
199
Chemicals§
...do
165
'167
166
p\m
164
163
165
164
166
165
165
165
163
Products of petroleum and coal
do
111
112
111
110
109
110
112
111
110
112
110
110
Petroleum refining§
do
204
203
195
210
208
208
203
212
p 196
198
200
210
207
R u b b e r products
do
109
113
103
114
112
114
117
115
115
105
115
118
Rubber tires and inner tubes§.
do
Production workers, unadjusted index, all manu' 155. 3 p 157.1
160.3
156.1
160.2
159.5
160.5
160.4
153.3
161.9
157.8
154.7
160.8
facturing (U. S. D e p t . of Labor)f
1939=100..
' 183. 6 p 183.4
183.6
' 185.0
188.1
185.8
188.2
185.0
178.7
188.8
181.5
183.9
186.8
Durable goods industries..
__
.do
p 162.1
161.7
' 163. 3 '161.4
164.2
164.8
164.9
162.3
164.7
158.2
161.0
160.1
163.3
Iron and steel and their products
do
Blast furnaces, steel works, and rolling mills §
133.3
131.8
132.9
130.0
130.9
130.0
131.0
129.5
130.9
130.4
130.2
129.0
1939=100..
217.4
222.9
'211.6
223.0
p 210. 6
225.4
226.9
227.0
218.9
230.2
219.6
229.7
225.5
Electrical m a c h i n e r y . . .
...do
227.4
233.1
228.8
' 228. 5 p 228.6
234.0
229.7
233.0
233.8
221.7
226.8
230.5
228.5
Machinery, except electrical
do
238.8
240.9
240.2
235.8
242.2
240.3
242.2
240.9
236.4
238.4
239.5
241.4
Machinery and machine-shop products §_ _do
130.4
134.5
140.2
142.9
129.7
137.6
142.4
137.6
138.2
143.2
139.5
147.2
Machine tools§
__do
' 191.9
' 195.0
195.2
190.5
' 188. 6 p 182.1
178.9
190.0
196.0
187.3
184.1
190.4
188.5
Automobiles
do
Transportation equipment, except automobiles
' 276.0 * 271.6
292.7
290.9
292.6
269.2
260.7
253.7
297.3
291.6
255.0
284.6
297.5
1939=100..
315.3
342.9
346.0
341.1
337.4
327.0
326.0
339.5
335.8
329.3
336.2
337.4
Aircraft and parts (excluding engines) %_ do
182.4
276.9
278.4
280.1
294.8
299.2
301.1
284.0
291.0
299.9
291.0
302.5
Aircraft enginest
do
167.6
181.6
176.8
184.4
144.7
134.3
126.7
191.9
181.5
125.8
169.9
202.7
Shipbuilding and boatbuildingt
do
'
173.7 *>174.4
180.0
176.9
178.5
176.3
174.7
171.4
178.4
180.3
172.8
178.8
178.0
Nonferrous metals and p r o d u c t s . . .
.do
'182.8
178.3
178.7
175.0
178.6
177.3
171.5
175. 6
178.4
177.3
178.5
172.9
p 187.8
Lumber and timber basic products
do
175.1
171.1
171.1
167.9
175.4
175.2
169.4
169.4
173.6
175.
8
174.5
170.5
Sawmills and logging camps §
do
' 139. 7 M38.3
147.8
143.4
149.2
144.8
141.9
135.7
149.1
148.3
140.1
147.1
137.3
F u r n i t u r e and finished lumber products..do
138.8
134.7
140.2
134.1
131.0
131.1
125.9
139.8
138.7
129.4
136.9
127.6
Furniture§
.do
153.9
153.7
150.9
152.8
152.3
' 154. 7 p 155. 3
146.5
151. 6
154.7
151.2
154.0
150.4
Stone, clay, and glass products
do
138.4
133.3
138.7
141.1
141.8
133.4
138.7
140.7
139.1
140.4
131.7
P 136. 4
Nondurable goods industries
do
'133.0
Textile-mill products and other fiber manuP 113.1
109.2
106.9
114.7
105.1
103.8
105.6
113.7
114.2
112.7
111.1
113.0
factures
1939=100..
' 113.0
C o t t o n manufactures, except small wares §
117.7
126.6
121.5
119.3
118.1
119.9
125.2
125.6
123.6
125.8
125.1
1939=100..
125.4
88.3
81.6
80.2
83.5
79.0
80.3
88.2
87.6
88.1
85.5
84.4
84.9
Silk and rayon goods§
do
Woolen and worsted manufactures (except
109.9
108.4
107.0
100.3
103.3
110.5
103.3
112.5
113.9
113.1
112.4
111.0
dyeing and
finishing)§
1939=100..
Apparel and other finished textile products
135.6
138.9
125.7
125.7
142.7
' 137.1
147. 5
141.5
P 137. 2
145.3
147.7
144.8
139.
1939=100..
128.3
130.4
121.1
123.9
133.6
134.9
137.0
134.7
134.2
135.5
135.2
135.0
M e n ' s clothing§
do
153.9
158.0
139.8
135.9
161.5
149.4
168.3
158.0
166.4
169.5
164.4
153.7
Women's clothing§
.do
111.1
112.2
107.5
106.6
113.2
' 103. 7
114 1
114.1
114.9
115.8
115.3
PUO.S
107.1
Leather and leather products
_do
93.9
92.9
97.8
97.5
96.7
88.5
98.5
100.4
101.0
99.4
100.2
92.2
Boots and shoes§
_
do
153.4
139.5
158.3
173.6
168.8
' 127.1
150.7
P 141.7
139.3
135.6
134.5
146.9
122.6
Food and kindred products
do
113.7
112.0
117.9
115.5
114.5
115.4
118.1
113.1
114.1
115.4
116.0
114.3
Baking§
do
163.8
103.3
159.8
255.7
232.7
91.0
114.4
85.5
82.1
99.1
84.3
81.2
Canning and preserving!
do
135.0
130.6
135.5
134.7
135. 5
85.7
142.0
145.7
138.5
150.8
73.9
134.0
Slaughtering and meat packing§
do
' Revised, p Preliminary. tSee note marked " § " on p . S-10 of September 1947 Survey for reference to revisions for shipbuilding and aircraft and aircraft engines.
§Data for the indicated industries (with the exception of newspapers and periodicals, blast furnaces, etc., and machine tools) have been revised beginning 1939 to adjust the series to 1945
data from the Federal Security Agency; see note marked " § " on p . S-10 of the June 1948 and September 1947 issues for reference to published revisions; revisions for other industries will be
shown later. Data for the three industries named above were found to need no similar general revision. For revisions for machine tools for January-March 1947 and earlier references see note
marked § on S-10 of the July 1948 Survey.
*New series. See note marked " t " with reference to estimates for the industry groups and the totals and notes marked " § " and "%" regarding revisions for individual industries.
fRevised series. See note marked " * " and " t " on p. S-10 of the September 1947 Survey for references to revised estimates of production workers for 1929-45 and employment and payroll indexes for 1939-45 for all manufacturing, total durable goods and nondurable goods, and the industry groups; data for the industry groups and the totals have been further revised beginning January 1946 to adjust the series to levels indicated by Federal Security Agency data for 1946; revisions for January 1946-April 1947 will be shown later. D a t a for the individual industries
in the transportation group have been adjusted only to 1939 Census of Manufactures data; other industries have been adjusted to Federal Security Agency data through 1945; see note marked
§ above.
S-ll
SURVEY OF CURRENT BUSINESS
August 1948
Unless otherwise stated, statistics through
1941 and descriptive notes may be found
in the 1942 Supplement to the Survey
1948
1947
June
August
July
September
N
m
October J ° b ™ -
December
January
February
March
April
June
May
EMPLOYMENT CONDITIONS AND WAGES—Continued
EMPLOYMENT—Continued
Production workers, index, unadjusted!—Con.
Nondurable goods industries—Continued
90.2
Tobacco manufactures
. 1939=100. _
146.1
Paper and allied products
do
141.3
Paper and pulp!
do
131.5
Printing, publishing and allied industries.do
119.7
Newspapers and periodicals!
_ do
137.8
Printing, book and job!
do
194.6
Chemicals and allied products
. _
do
284.3
Chemicals§
do. _
153.5
Products of petroleum and coal. _
do
150.1
Petroleum refining!
do
Rubber products
_
do_ __ 170.9
217.0
Rubber tires and inner tubes!
do_ _
Production workers, adjusted index, all manu155.2
facturing (Federal Reserve)!.
1939=100..
183.4
Durable goods industries! . _ _ . _ _
do
133.0
Nondurable goods industries!
do
Nonmanufacturing, unadjusted (U. S. Dept. of
Labor) :
Mining:!
90.5
Anthracite
1939=100
105.4
Bituminous coal
do _
99.3
Metalliferous
_
do
129.0
Quarrying and nonmetallic...
...do
112.3
Crude petroleum and natural gas
do
Public utilities:!
107.5
Electric light and power
_..do
130.4
Street railwavs and busses
do
102.3
Telegraph..
do
ton d.
Telephone
—
do
Services:!1
173.3
Dvpine and cleaninc
do
127.2
Power l&undri6S
do
119.4
Yp&r-roimd hotels
do
Trade:
111.4
Retail, total!
do
113.7
Food*
.
do
120.6
General merchandising!.
__.do
110.6
Wholesale!
do
Miscellaneous employment data:
266,
966
Federal and State highways, totalf
number..
107,192
Construction (Federal and State)
do
116,
465
Maintenance (State)
do
Federal civilian employees:^
1,850
United States
_.
thousands.
206
District of Columbia
.
do
Railway employees (class I steam railways):
1,405
Total
thousands
134.8
Indexes: Unadjusted!
1935-39=100.
132.9
Adjusted!
do
89.8
143.3
140.9
131.2
119.8
138.2
195.0
282.8
156.2
152. 6
165.1
212.3
91.6
145.7
142.7
132.3
120.5
137.7
195.3
280.8
157.0
152.8
167.9
214.9
92.3
146.2
142.9
133.2
121.7
139.1
199.9
279.0
156.4
151.4
168.1
207.5
95.1
147.8
142.9
134.6
121.8
141.6
203.2
278.9
155.8
149.8
171.7
211.0
96.5
148.6
143.4
135.4
122.2
142.6
204.5
280.9
156.1
149.8
174.0
212.2
94.4
149.9
144.8
135.7
122.7
143.7
205.4
283.3
155.5
150.1
175.3
211.7
93.6
148.7
145.0
134.0
121.0
142.3
204.1
282.8
155.0
149.9
173.5
209.2
93.9
147.8
144.9
133.5
121.4
140.8
204.2
281.0
153. 9
149.5
172.0
205.8
93.4
148.0
145.5
132.8
122.0
139.1
203.6
280.8
155.4
151.3
168.9
200.7
'92.4
146.8
145.3
131.8
122.5
137.4
201.4
283.2
154. 9
151.5
163.8
192.9
'90.5
146.4
146.0
' 132. 2
123. 5
138.1
' 198.4
279.8
154.5
178.8
135.4
156.3
180.7
137.1
158.9
183.2
139.7
160.0
184.8
140.4
160.4
186.8
139.7
161.1
188.6
139.3
161.2
188.7
139.4
159.8
186.4
138.7
160.1
188.4
137.7
'157.0
' 185.4
134.7
' 156. 5
' 183.8
'135.0
88.7
97.5
97.8
129.4
114.3
91.7
105.0
98.3
129.8
114.5
91.0
106.0
96.8
128.7
112.5
91.2
106.8
95.8
127.6
111.1
91.2
107.4
96.5
126.2
110.5
91.5
108.3
97.0
122.6
110.4
91.1
108.7
96.9
116.7
110.5
91.6
106.8
97.4
113.7
111.1
91.9
'79.5
'98.9
124.0
112.0
109.3
130.9
101.6
110.2
130.7
100.5
109.9
129.6
99.8
192 9
109.4
128.8
98.1
191 6
109.7
128.7
97.2
193 3
110.3
128.6
97.6
195 0
109.8
129.2
97.2
110.3
128.6
97.8
196 2
92.6
'108.0
'98.7
118.2
111.1
110.9
'128.7
98.2
197 4
91.4
108.2
98.2
125.6
113.3
112.3
128.5
96.3
198 6
167.9
127.8
118.3
160.1
125.0
117.6
162.1
124.3
117.4
164.4
123.1
117.7
159.4
121.3
117.1
156.5
120.9
118.1
152.8
120.1
117.2
149.3
117.6
316.8
154.8
117.7
116.4
110.2
113.0
116.7
111.1
110.0
114.7
115.7
112.2
112.4
112.6
122.8
113.3
115.8
115.0
131.3
115.5
119.8
116.1
143.6
116.5
130.2
117.4
175.5
117.1
114.4
114.4
129.4
116.3
111.8
113.9
122.9
116.1
285,865
116,116
123,877
295,234
125,999
123,976
282,762
120, 646
117,605
271,998
115,565
113,058
246,777
91,065
112,332
218, 587
65, 336
110, 544
198,438
47, 734
108,224
1,817
1,784
1,767
1,774
1,773
1,766
198
196
195
195
195
196
1,413
135.5
132.7
1,411
135.3
132.5
1,393
133.6
130.4
1,387
132.9
128.6
1,370
131.3
130.2
1,363
130.4
132.5
111.7
'128.3
97.9
198 5
T
157.3
152.8
' 160.8
190.4
160.6
119.0
117.0
'113.8
116.7
124.5
115.3
159.0
118.3
116.9
112.8
116.1
123.6
114.8
190,678
41,184
106,305
202,090
50,461
108, 045
233,105
78, 726
109, 522
264, 290
105, 547
112,631
1,769
1,781
1,794
1,811
1,826
198
200
201
202
203
1,348
129.1
134.2
1,340
128.6
131.7
1,346
129.0
132.3
1,287
v 123.2
»125.2
»1,350
v 129.4
» 129.9
^89.5
p146.6
p 132. 4
p 198. 3
p 159. 4
p 161.3
157. 7
p 182.9
p 137.7
P
113.1
116.3
123.7
114.4
v 1, 855
v 206
* 1,381
v 132.4
* 130.6
PAY ROLLS
Production-workers pay rolls, unadjusted index,
all manufacturing (U. S. Dept. of Labor)!
345.3
'358.4
'346.7
353.4
354.1
350.1
365.7
327.2
321.8
358.7
345.9
331.5
1939=100
411.0
403.1
' 392.7
389.5
395.0
393.1
382.2
389.9
'402.0
375.5
366.8
Durable goods industries
do
359.4
345.8
' 334.6
334.4
335.1
327.7
331.6
340.8
319.2
307.2
341.9
337.6
316.8
Iron and steel and their products
do
Blast furnaces, steel works, and rolling
254.5
255.1
251.9
253.0
260.9
257.8
249.1
261.2
265.4
237.6
257.5
254.2
mills _
1939—100
471.9
481.2
471.0
444.3
431.6
464.6
465.1
450.5
459.1
440.5
428.1
Electrical machinery . . .
do
430.0
459.6
479.9
473.8
463.8
466.4
458.0
471.9
451.4
475.2
443.0
434.5
427.4
Machinery, except electrical _
do
477.9
496.4
493.6
480.0
481.5
456.2
500.7
494.9
495.5
470.6
462.1
491.0
Machinery and machine-shop products!do
257.4
240.2
249.2
253.3
257.5
262.2
250.1
264.8
254.4
242.3
240.7
253.6
Machine tools!
do
395.6
427.7
386.2
385.8
357.6
380.6
'396.5
363.6
355.3
408.7
345.1
357.6
Automobiles!do
Transportation equipment, except automo509.8
555.1
600.2
601.4
541.5
600.4
571-1
593.3
492.5
492. 4
611.2
566.4
biles
_
1939=100
623.3
663.8
653.8
668.7
657.4
667.3
675.9
695.2
634.2
Aircraft and parts, excluding engines! do
621.5
622.4
637.6
501.3
499.9
479.2
503.5
482.9
469.4
473.9
481.0
493.5
Aircraft engines!
do_ .
481.5
485.1
486.7
262.0
289.9
316.6
378.9
416.7
385.4
383.7
373.6
345.7
Shipbuilding and boatbuilding! . . . do
394.3
243.1
241.8
349.5
359.3
367.3
377.8
372.7
372.9
377.1
368.3
363.4
Nonferrous metals and their products
do
352.0
332.1
335.3
427.4
427.2
429.1
431.8
413.5
417.2
427.6
425.2
452.6
Lumber and timber basic products
do...
409.8
394.2
429.7
430.5
425.2
425.3
422.0
400.3
401.1
412.4
405.2
435.5
Sawmills and logging camps!
_ _ _ do
412.2
397.4
435.3
324.3
338.8
343.0
355.7
352.2
350.2
349.2
333. 0
325.6
Furniture and finished lumber products do
308.0
298.6
311.6
297.9
315.0
323.2
334.3
333.4
333.6
330.9
314.6
307.2
Furniture!
.
do
284.7
274.4
284.7
320.2
328.2
331.2
335.7
322.9
321.4
336.6
337.9
343.4
311.5
298.8
315.5
Stone, clay, and glass products
do
309.0
311.2
312.8
321.4
315.3
316.0
315.7
301.8
303.2
Nondurable goods industries
_
do
280.0
285.1
297.0
Textile-mill products and other fiber manu262.9
271.8
288.2
302.0
248.6
243.7
246.2
303.0
310.6
315.6
307.1
303.8
factures
1939=100
329.1
362.1
376.4
378.7
377.0
374.7
317.4
385.1
307.5
305.7
302.6
Cotton manufactures, exc. small wares! do
369.7
227.6
236.6
248.1
252.6
262.4
267.4
268.6
220.2
267.8
Silk and rayon goods!
do_._
206.0
208.5
203.0
Woolen and worsted manufactures, except
268.5
270.4
276.6
294.4
252.5
233.6
243.0
321.1
322.1
292.0
308.6
307.9
dyeing and
finishing!
1939=100_.
Apparel and other finished textile products
303.8
266.2
262.3
320.5
304.8
288.4
327.3
337.0
343.2
345.2
306.5
297.9
1939=100
303.5
301.5
309.5
313.4
316.4
317.1
284.9
324.8
273.0
264.8
Men's clothing!
do. .
260.0
311.5
334.7
264.1
283.1
355.9
349.5
376.4
323.1
387.1
307.1
319.3
374.8
299.3
Women's clothing!
do
225.9
251.8
248.1
235.8
229.0
259.6
262.5
251.7
227.1
216.5
252.5
258.7
Leather and leather products
do. .
223.8
223.5
231.9
233.8
235.9
198.1
183.7
221.5
225.6
201.7
209.9
Boots and shoes!
_ do
204.8
332.8
323.5
321.9
296.6
288.5
266.5
278.4
356.1
286.7
349.3
317.1
285.8
Food and kindred products
_. d o .
230.8
227.8
229.2
221.5
234.1
227.6
235.1
223.2
227.1
213.1
218.4
Baking!
__
_
do
218.0
437.9
265.7
250.2
216.2
683.8
249.3
653.7
401.8
216.9
216.5
204.6
Canning and preserving!
_ do
232.7
271.7
317.4
338.9
304.2
263.3
202.2
271.9
276.6
259.9
270.0
280.9
178.4
Slaughtering and meat packing!
do
r
Revised. * Preliminary. !See note on item on p. S-10 regarding revisions in the data.
JTotal includes State engineering, supervisory and administrative employees not shown separately.
ISee note on item in July 1944 and September 1947 Surveys regarding changes in the data beginning in 1943 or 1945. December figures do not include excess temporary post office substitutes
employed only at Christmas.
*New series. Indexes beginning 1939 for employment in retail food establishments are shown on p. 31 of the June 1943 Survey.
!Revised series. Revisions for 1939 through April 1947 for the adjusted indexes of employment in manufacturing industries will be shown later. See note marked "f" oa p. S-ll of
beptember 1947 Survey for reference to 1937-43 data for employment and pay rolls in the telegraph and telephone industries and 1939-41 data for the other Department of Labor series on
nonmanufacturing employment and pay rolls, with the exception of the series for dyeing and cleaning, power laundries, and mining industries, and also for reference to earliest data published
for the index of railway employees. Employee definition for dyeing and cleaning and power laundries has been changed from "wage earners" to "production workers" with the resultant
exclusion of driver-salesmen, and indexes for these industries have been adjusted to data through 1945 from the Federal Security Agency; revised data for 1939-46 will be published later. Indexes for the mining industries have been adjusted to Federal Security Agency data through 1946; revisions through April 1947 for bituminous coal and through February 1947 for the other
mining industries will be shown later. See note marked " f ' o n p . S-10 with regard to revised unadjusted indexes of employment and pay rolls in manufacturing industries.
SURVEY OF CUREENT BUSINESS
S-12
Unless otherwise stated, statistics through
1941 and descriptive notes may be found
in the 1942 Supplement to the Survey
August 1948
1947
June
July
August
September
1948
October
November
December
January
February
March j April
May
June
EMPLOYMENT CONDITIONS AND WAGES—Continued
PAY ROLLS—Continued
Production-workers pay rolls, mfg., unadj.t—Con.
Nondurable goods industries—Continued
Tobacco manufactures
1939=100..
Paper and allied products
do
Paper and pulp§
do
Printing, publishing, and allied industries
1939=100..
Newspapers and periodicals§
do.
Printing, book and job§
_
do.
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
Nonmanufacturing, unadjusted (U. S. Dept. of
Labor):
Mining:!
Anthracite
.1939=100..
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
Telegraph
do.
Telephone
do.
Services:!
Dyeing and cleaning
_do_
Power laundries
do
Year-round hotels
do.
Trade:
Retail, totalf
do.
Food*
do.
General merchandising!
-do.
Wholesale!
__.do.
LABOR CONDITIONS
Average weekly hours per worker (U. S. Dept. of
Labor):
All manufacturing!
hours..
Durable goods industries* _
__.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. I
Automobiles*
do____
Transportation equipment, except automobiles*
_
.
hours
Aircraft and parts (excluding engines)
Aircraft engines*
. do
Shipbuilding and boatbuilding* ____do_ .
Nonferrous metals and their products*_do___.
Lumber and timber basic products*...do. _.
Sawmills and logging camps*
do....
Furniture and finished lumber products*
hours
Furniture*
. . do ""
Stone, clay, and glass products*
do....
Nondurable goods industries*
do.._.
Textile-mill products and other fiber manufactures*
hours
Cotton manufactures, except small wares*
216.3
325. 9
319.9
219.8
334.0
327.3
210.5
328.0
325.0
195.7
328.9
328.3
' 204.6
330.8
330.0
'205.7
325.7
327.7
201.3
331.9
338.9
252.?
221.6
272.8
409.6
529.8
301.8
279.7
354.4
398.0
257.2
279.3
416.4
540.8
309.5
288.9
361.4
407.5
263.1
230.0
285.3
424.1
555.8
313.3
293.4
373.6
412.1
255.3
218.9
283.4
426.7
561.3
318.1
296.8
354.9
388.4
254.7
224.6
278.6
425.6
559.2
315.4
295.0
337.2
355.9
258.5
229.2
280.0
425.1
558.6
320.0
299.3
320.6
330.2
259.5
235.0
278.6
422.1
564.8
316.7
301.3
312.8
323.6
262.6
236.6
283.9
422.5
563. 2
334.2
316.1
320.9
345.5
237.9
321.6
193. 6
315.9
206.5
252.7
327.5
192.7
319.2
199.9
224.4
327.4
194.8
305.7
211.0
239.4
345.8
198.8
295.3
203.2
242.4
350.5
198.9
270.0
215.5
232.8
320.0
201.7
262.0
219.9
255.9
'342.0
' 201.3
287.3
213.2
195.4
166.4
200.9
311.7
218.4
246.2
341.4
204.0
329.7
228.7
182.9
225.2
213.5
306.2
183.1
224.1
211.8
312.3
182.8
223.2
208.1
314.2
187.6
223.6
206.8
321.5
185.7
226.7
207.8
313.0
187.9
230.1
209.5
315.8
188.2
234.7
212.6
316.3
184.4
232.6
213.0
314.7
188.6
227.1
224.8
322.5
191.6
228.1
231.1
330.5
310.5
238.5
222.0
285.0
231.3
221.0
301.7
236.2
222.4
303.8
232.3
226.9
293.7
226.8
228.6
292.8
233.6
233.2
285.6
232.9
230.4
271.9
225.4
233.2
291.2
227.5
229.0
308.0
231.5
233.4
312.4
232.3
234.6
201.6
212.1
218.9
198.0
198. 5
213.8
214.1
196.5
197.6
212.2
212.0
198.2
202.5
209.2
220.4
203.3
207.1
213.8
224.5
206.9
216.5
220.0
251.1
213.6
237.6
221.5
314.0
213.9
209.4
219.4
233.0
211.7
208.4
221.5
221.4
214.9
' 210.4
226.1
225.5
210.8
' 211.1
225.5
225. 5
210.8
213.8
227.0
229.2
40.2
40.7
40.5
39.8
40.0
39.3
39.8
40.0
39.6
40.4
40.6
40.3
40.6
40.9
40.5
40.4
40.7
40.5
41.2
41.7
41.2
40.5
40.9
40. 6
40.2
40.5
40.4
40.0
'40.5
39.9
39.8
40.1
40.3
39.5
39.8
41.3
37.4
39.8
40.9
39.2
39.2
40.5
39.0
40.4
41.1
39.0
40.6
41.3
39.4
40.6
41.2
39.5
41.1
42.2
39.5
40.5
41.8
39.5
40.4
41.4
38.6
39.9
41.5
39.9
39.6
41.1
41.5
42.2
38.7
40.8
41.6
37.7
40.9
41.4
37.2
41.3
41.8
39.2
41.3
42.1
39.5
41.4
41.9
39.8
42.7
43.1
41.4
42.0
42.0
39.6
41.8
42.3
38.1
40.4
40.9
40.6
39.4
40.3
41.6
41.8
42.3
38.9
41.7
42.0
' 38.6
41.7
42 1
34.8
40.1
40.1
39.6
39.7
40.4
38.6
40.8
40.3
39.6
40.3
39.9
40.1
38.9
41.2
41.7
41.1
40.1
40.6
40.3
41.1
42.3
42.0
'41 8
'42!l
40.8
39.9
40.6
194.8
303.4
302.1
200.0
304.2
309.6
203.0
307.2
312.3
205.3
315.5
317.'.
'611.6
240.3
210.0
258.1
384.1
528.2
291.4
273.4
342.3
396.1
238.0
208.9
258.9
387.7
533. 7
300.5
286.1
331.2
389.5
240.0
214.0
254.8
390.2
527.0
302.1
282.8
337.6
396.0
249.7
221.6
266.6
403.1
527.3
307.5
287.6
348.3
397.9
219.4
300.6
196.7
307.1
206.0
200.3
229.7
186.1
307.0
204.9
244.0
314.7
193.3
317.2
204.0
177.5
222.1
218.8
292.5
178.4
222.1
215.2
302.2
328.4
239.3
226.4
38.8
40.7
40.5
42.8
42.5
39.2
39.9
39.7
42.2
42.1
39.2
39.3
39.5
43.3
43.1
40.0
39.5
40.2
42.8
42.5
40.5
39.8
40.8
42.6
42.2
39.4
136.1
41.1
42.2
41.9
40.6
41.2
40.5
41.8
43.2
42.8
39.4
40.6
40.9
41.2
42.4
42.0
41.7
41.6
40.8
39.8
41.1
40.9
40.1
39.7
41.2
41.0
40.6
39.5
41.5
41.4
40.4
40.2
42.1
42.3
40.8
40.2
41.8
42.3
40.5
40.1
42.7
42.9
41.0
40.8
41.9
42.2
40.0
40.0
41.4
41.9
39.9
39.9
40.1
41.0
40.5
40.2
38.6
38.4
38.2
39.5
39.7
r
r
40.5
40.0
40.6
40.5
40.2
40.9
41.6
MO. 9
40.4
40.9
39.4
40.7
42.0
41.5
'41.0
'41.1
' 40.7
39.6
41.0
41.1
40.6
r
39.5
39.9
39.6
r
P40.0
P40.4
P39.
7
39.6
40.7
40.7
40.1
40.1
41.1
41.8
42.3
42.2
41.9
41.8
41.8
Silk and rayon goods*
.--..do..!.
40.3
40.3
40.0
40.9
41.0
41.2
Woolen and worsted manufactures, except
'40.7
40.1
40.8
39.9
41.2
40.8
dyeing and
finishing*
hours..
39.4
39.1
36.6
40.2
39.7
39.6
36.7
36.2
35.8
36.6
36.7
37.1
Apparel and other finished textile products*
36.8
37.7
37.4
37.1
37.1
37.3
hours
36.0
35.8
35.2
36.0
36.9
36.4
35.1
36.2
36.1
36.0
36.1
35.1
Men's clothing*
•
do
37.2
36.5
35.1
36.8
37.9
37.5
35.4
39.1
37.8
39.0
39.0
36.2
Women's clothing*
do
35.0
34.8
34.6
35.0
35.8
35.3
34.2
38.7
37.5
38.8
38.8
35.3
Leather and leather products*."" " . do""""
38.1
38.2
38.1
39.1
39.0
38.3
42.2
43.3
41.6
42.0
41.7
42.3
Boots and shoes*
do
37.7
37.8
37.7
38.8
38.7
37.8
2 42.3
2 42.7
2 41.9
2 41.6
2 43.6
2 42.1
Food and kindred products*.
" do""""
43.2
43.2
43.4
43.4
42.8
42.5
2
2
2
37.7
36.7
36.5
37.3
38.4
36.9
Baking*
do""""
42.6
2 42.7
41.9
Ml. 9
41.9
2 41.6
r
47.7
46.7
'43.6
44.8
40.7
4S.1
Canning and preserving*
do....
37.8
39.9
42.6
42.8
40.9
35.
r
39.9
37.7
'37.7
38.6
36.2
38.2
Slaughtering and meat packing*
. do. .
44. 5
44. 5
43. 0
43.4
43. 2
46.9
43.8
42.8
43.1
43.1
43.1
42.7
Tobacco manufactures*
__do____
38.2
39.6
39.2
39.2
39.7
39.4
44.9
44.6
44.5
44.4
44.5
44.1
Paper and allied products* .
. do
42.9
42.9
42.4
42.9
43.0
43.2
Paper and pulp*
do
44.5
44.5
44.1
44.5
44.4
44.4
39.1
39.5
39.2
40.4
39.5
39.1
Printing, publishing, and allied industries
38.3
39.1
38.4
37.8
38.3
38.5
hours
39.9
39.6
39.4
40.2
40.0
40.0
39.8
41.1
40.3
40.7
39.8
39.9
Newspapers and periodicals*
do
38.4
38.2
38.5
39.0
38.7
38.6
41.1
41.5
41.2
41.4
41.1
41.0
Printing, book and job*
do...
40.6
40.5
40.0
40.8
40.7
40.7
41.3
41.2
41.0
41.2
41.1
41.1
Chemicals and allied products*
do
41.1
40.9
40.9
41.0
41.4
41.3
r
41.0
40.8
'40.6
40.7
40.8
40.1
Chemicals*
" "do""""
40.9
41.1
40.7
40.5
40.8
40.9
40.6
40.3
40.1
39.8
40.0
39.9
Products of petroleum and coal*
do. _.
40.7
40.5
40.6
41.0
40.5
41.2
38.8
40.9
37.8
39.7
38.5
37.8
Petroleum refining*
do
40.6
40.7
40.3
40.7
39.9
41.0
37.4
39.5
34.8
38.2
36.0
35.3
Rubber products*
do. _
39.1
38.6
38.7
39.9
40.1
39.
Rubber tires and inner tubes*
do.!.:
37.7
37.9
37.8
38.9
38.7
38.9
'2 Revised, P Preliminary. 1 The reduction reflects incomplete return to previous work schedule after termination of work stoppages and observance of Armistice Day in some yards.
Not strictly comparable with data prior to May 1947; comparable April 1947 figure, 41.9. § See note marked " § " on p. 8-10.
*New series. Indexes of pay rolls beginning 1939 for retail food establishments are shown on p. 31 of the June 1943 Survey. Data beginning 1939 for the printing and publishingindustries
and the aircraft engine industries will be published later. Data beginning 1939 for all series on average hours will also be published later: see note in the September 1947 issue forreferenceto
earliest data published in the Survey and explanation of a change in January 1945 which affected the comparability of the data for the machine tools, aircraft engines, and shipbuilding industries.
!Revised series. See note marked "f" on p. S-10 with regard to revised indexes of pay rolls in manufacturing industries and note marked "f" on p. S-ll with regard to revised datafor
pay rolls in nonmanufacturing industries. Data beginning 1942 for average weekly hours in all manufacturing industries are available in the March 1943 and later issues of the Survey;
revised data prior to 1942 have not been published in the Survey and will be shown later.
SUEVEY OF CURRENT BUSINESS
August 1948
Unless otherwise stated, statistics through
1941 and descriptive notes may be found
in the 1942 Supplement to the Survey
S-13
1947
July
June
August
1948
September
November
October
Decem
ber
January
February
March
April
May
June
EMPLOYMENT CONDITIONS AND WAGES—Continued
LABOR CONDITIONS—Continued
Average weekly hours per worker—Continued
Nonmanufacturing industries:*
Building construction
hours__
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
Telegraph
do
Telephone
__«
do
Services:
Dyeing and cleaning
do
Power laundries
do
Year-round hotels
do
Trade:
Retail
do
Wholesale
do
Industrial disputes (strikes and lock-outs):
Beginning in month:
Work stoppages
number
Workers involved
thousands
In effect during month: •
Work stoppages
number
Workers involved
thousands
Man-days idle during month
__
do
Percent of available working time*
U . S . Employment Service placement activities:
Nonagricultural placements !
thousands..
Unemployment compensation (Soc. Sec. Admin.):
Initial claims*.
..thousands
Continued claims©
do
Benefit payments:
Beneficiaries, weekly average©
do
Amount of payments
thous. of dol_.
Veterans' unemployment allowances:*
Initial claims
thousands
Continued claims.
_ do
Claims filed during last week of month__.do
Amount of payments
thous. of dol__
Labor turn-over in manufacturing establishments:©"
Accession rate _ monthly rate per 100 employees
Separation rate, total
__ __
do
Discharges
do
Layoffs
do
Quits
do
Military and miscellaneous
do
37.8
38.0
38.2
37.9
38.1
36.6
37.9
37.2
36.7
37.1
'37.0
37.2
39.2
43.7
42.6
45.6
41.9
37.0
31.8
41.2
45.2
40.6
38.5
39.1
41.4
46.1
40.1
38.2
39.1
41.6
46.1
40.3
40.0
39.9
42.3
46.4
40.0
36.2
38.5
41.7
44.6
40.9
38.4
41.2
42.7
44.4
39.5
39.0
40.9
42.5
42.7
39.9
36.2
38.7
42.9
42.1
40.4
40.3
'40.6
'42.4
43.6
39.7
132.1
i 26.9
'42.1
44.5
40.1
39.4
40.3
42.6
45.2
40.4
42.2
47.4
44.8
37.5
42.1
46.3
44.8
38.4
42.4
46.6
44.8
38.7
42.0
46.1
44.5
39.1
42.1
45.7
44.8
39.3
42.4
45.4
44.0
39.5
42 2
46.8
43 9
39.0
42.4
46.3
44.4
38.9
42.2
47.7
44.5
38.7
41.6
47.3
44.4
38.7
41.8
46.6
44.1
38.8
41.7
46.5
45.0
39.4
42.9
42.8
45.2
42.1
42.6
44.9
40.8
42.2
45.0
41.9
42.4
44.1
41.5
42.3
44.0
40.9
41.7
44.4
41.5
42 6
44 1
41.4
42.3
43.9
40.5
41.9
44 6
41.5
42.0
44.0
42.1
42.3
44.2
42.0
41.9
44.0
40.8
41.6
41.1
41.1
41.0
41.1
40.0
41.2
40.0
41.3
39.5
41.4
39 7
41 6
39.8
41 0
40.0
41 1
'39.8
40 9
'39.8
41 0
39.9
41.2
379
448
315
242
336
113
219
79
219
64
178
57
119
32
» 175
p 75
J>200
p 70
*225
p 500
701
597
581
615
583
259
435
187
393
171
236
57
590
.1
p 250
P 100
P 1,000
P A
*>300
* 110
p 725
v.l
v 165
v 475
v 240
p 2 000
3,960
.6
3,970
.5
2,520
.4
1,970
.3
1,780
.2
328
139
829
.1
453
454
484
546
528
451
397
374
344
413
458
482
524
878
4,905
942
5,219
623
4,296
565
3,742
617
3,359
602
2,848
830
3,700
'947
4,041
'882
4,242
'877
4,863
' 1.046
4,636
1,012
4,258
923
4, 614
1,007
73, 559
493
3,021
722
58, 542
954
76, 534
915
66,804
779
59,258
656
52, 782
593
41,677
621
52, 202
776
' 59, 209
849
60, 730
924
76, 573
904
73, 576
'884
66, 432
848
71, 690
476
3,446
759
66,239
386
3,023
715
59, 521
315
2,663
528
53, 336
289
1,939
419
38,153
290
1,609
395
29, 554
398
2,241
443
40, 209
437
2,553
628
48, 933
374
2,637
651
49, 466
355
2,930
604
55, 782
299
2,323
522
46,940
244
1, 727
390
33, 535
358
1,716
385
30, 676
5.5
4.9
5.3
5.9
5.5
4.7
.4
1.1
3.1
4.6
.4
1.0
3.1
5.3
.4
.8
4.0
5.9
.4
.9
4.6
5.0
.4
.9
3.6
4.8
4.0
.4
.8
2.7
.1
3.6
3 7
4
9
2 3
.1
4.6
4.3
.4
1.2
2.6
.1
3.9
'4.2
.4
1.7
2.5
.1
4.0
4.5
.4
1.2
2.8
.1
4.0
4.7
.4
1.2
3.0
.1
P4.0
P4.3
P .3
.1
.1
.1
.1
.1
P
p 550
6, 000
p .8
*>400
p 625
P 8,000
*>425
P
4,100
P. 6
*». 3
2
p 1.1
?2. 8
WAGES
Average weekly earnings (U. S.Dept. of Labor):
49.17
51.05
49.33
All manufacturing!
dollars..
50.43
48.98
51.75
52.07
51. 29
' 52.07
' 51. 71
' 51. 76
p 52. 81
52.69
52.46
52.99
52.19
Durable goods industries !
do
54.06
v 56 14
' 54. 65
55.46
54.86
56 48
54.77
' 55. 25
' 54.87
54.69
' 56. 48
56.61
56.21
54.53
53.67
55.18
Iron and steel and their products!
do_._
56.99
57.43
56.96
' 57. 28
57.39
58.13
Blast furnaces, steel works, and rolling
58.25
58.12
55.23
58.56
58.96
mills!
,
dollars.
59.74
60.54
58.37
60.58
59.52
59.26
60.01
55 34
54 82
54 32
54.50
54 41
53 86
53 70
54.10
53.46
51.53
52.00
51.57
Electrical machinery!
do
57.36
55.74
56.30
56.06
Machinery, except electrical!
do
57.87
' 59. 26
59.13
57.92
59 17
58. 65
' 59 12
59 67
Machinery and machine-shop prod55.07
56.41
55.00
55.53
£6. 75
58.11
58.33
ucts!
dollars..
57.03
59. 05
58.63
58.29
59.22
61 34
60.54
59.53
59.64
60 37
60 58
60 81
59. 25
58.69
57.77
56. 78
58.31
Machine tools _____
do
r
59.35
55.76
56.44
57.48
Automobiles!
do
eo. 30
' 59.14
59.00
60.96
53 71
61.30
59.81
64 64
Transportation equipment, except auto55.75
55.59
56. 54
56. 02
£8.08
58.67
56.42
mobiles
dollars..
' 59. 89
59.56
59. 30
' 59, 40
59. 79
52.58
54.44
55.30
54. 48
56.01
56.13
Aircraft and parts (excluding engines) .do
55.53
' 56. 71
55.48
57.75
57.12
57.74
59.19
58.29
59. 30
57.52
59 53
60 33
61 02
60 39
58.43
56.58
56.19
55.44
Aircraft engines*.
do
59.31
64.05
55. 20
61.45
57.71
56.93
56.77
57.79
Shipbuilding and boatbuilding
do
62.04
60.40
61.74
62.07
53.59
55.07
' 54. 87
55.06
54.27
55.23
55.14
52.62
51.07
51.12
52.06
Nonferrous metals and products ! __. do
55 53
45.23
45.01
44. 92
44.49
45.30
45.41
45.32
43.57
45.04
Lumber and timber basic products ! do
46.81
45.32
45.65
43.41
42.94
44.09
44.27
43.07
43.86
44.20
45.24
44.58
44.05
42.86
44.14
Sawmills and logging camps
do_ _
47.02
46.32
46.53
46.68
' 46. 34
47.72
' 47.08
46.51
45.38
44.09
43.51
44.24
Furniture and finished lumber products !.do_ .
47.76
' 4 7 64
48.54
48.38
48.07
' 48 58
49 10
47 78
46.24
44.58
44.12
45.04
Furniture!
do
50.38
49.57
49.06
48.00
48. 54
Stone, clay, and glass products f
do_ _ _
49.98
' 51.41
50.10
50.47
51. 00
' 51. 75
51.25
48.56
47.29
Nondurable goods industries f
do
48.45
47.56
' 48. 61
48.72
46.78
45.78
45.61
45.31
48.26
48.66
p 49. 29
Textile-mill products and other fiber
41.94
manufactures!.
dollars
45.79
45.19
39.54
45 19
43.73
41.39
39.44
39.48
46 32
45 46
45 15
Cotton manufactures, except small wares!
37.10
38.55
37.50
37.21
39.22
43.43
42.47
dollars..
42. 57
43.81
43.64
43.08
43.98
47.55
44.84
43.57
47.92
48.38
48.31
46.48
43.23
41.65
41.17
40.97
Silk and rayon goods!.
do_
48.53
Woolen and w o r s t e d
manufactures
(except dyeing and finishing)! dollars
46.99
42.28
45.75
45.33
46.95
46.70
52.82
' 53.49
52.61
49.12
48.79
52.33
Apparel and other finished textile products!
37.64
36.57
36.50
35.77
37.09
38.78
dollars-40.00
40.23
39.00
' 40.09
37.24
' 37.61
42.24
44.11
42.78
44.05
43.11
41.05
38.66
40.17
41.35
Men's clothing!
do
43.50
44.73
44.31
46.91
43.82
48.52
46.76
' 48.10
' 43. 20
43.27
49.09
45.78
45.49
43.81
41.87
Women's clothing§
do
42.18
41.93
42.34
42.63
42.67
' 40.34
41.87
39.82
41.89
40.25
40.30
40.12
Leather and leather products!
do -40.41
39.98
40.87
41.35
41.09
40.12
38.32
38.49
38.30
Boots and shoes
-,._
do
36.91
40.21
38.09
r
Revised.
v Preliminary.
i Data reflect work stoppages.
2 Partly estimated.
• See p. 23 of December 1946 Survey for 1944-45 data.
© Computed from weeks compensated in weeks ended during month.
G Small revisions for January 1940 to May 1944 are available on request.
c? Rates refer to all employees and are therefore not strictly comparable with data prior to 1943 published in the Survey.
§ See note in September 1947 Survey regarding a change in January 1945, also in 1942 for women's clothing industry, which affected the comparability of the data.
* New series. See note marked " • " on p. S-12 of the September 1947 Survey for reference to available data for the series on average weekly hours in nonmanufacturing industries with the exception of the series for year-round hotels which was not shown in the Survey prior to the October 1947 issue. Data are available beginning 1939 for average hours in year-round hotels, average
weekly earnings in the aircraft engine industry, and initial unemployment compensation claims, beginning September 1944 for veterans' unemployment allowances, and beginning 1927 for
man-days idle as a percent of available working time.
t Revised series. The indicated series on average weekly earnings and average hourly earnings (p. S-14) have been shown on a revised basis beginning in the March 1943 Survey; see note
in that issue for an explanation of the revision.
SURVEY OF CURRENT BUSINESS
S-14
Unless otherwise stated, statistics through
1941 and descriptive notes may be found
in the 1942 Supplement to the Survey
August 1948
1948
1947
June
July
August
September
October
November
December
January
February
March
Aprii
May
June
EMPLOYMENT CONDITIONS AND WAGES—Continued
WAGES—Continued
Average weekly earnings—Continued
All manufacturing—Continued
Nondurable goods industries—Continued
Food and kindred products!
dollars
do
Baking!
do
Canning and preserving!
Slaughtering and meat packing
.do
Tobacco manufactures!
^ ft
do....
Paper and allied products!
,
do....
Paper and pulp
Printing, publishing, and allied industries!
dollars. .
Newspapers and periodicals*
do
do....
Printing, book and job*... . ._
Chemicals and allied Droducts!
do
do
Chemicals
do
Products of Detroleum and coal!
"Pptrolpnm refinincr
do
do
Rubber Droductst
dn
Unbbpr tirps and inner tubes
Average hourly earnings (U. S. Dept. of Labor):
All manufacturing!
dollars..
Durable goods industries!
_
do
Iron and steel and their products!
do
Blast furnaces, steel works, and rolling
mills!
dollars
do
Electrical machinery!
TVTftphinprv PxcpDt electrical t
do
Machinery and machine-shop products!
dollars. .
do
Machine tools
do
A utomobiles!
Transportation equipment, except automobiles!
dnllnrs
Aircraft and parts (excluding engines)
dollars.
Aircraft engines*!
do
Shipbuilding and boatbuilding
do...
Nonferrous metals and products!
do
Lumber an d timber basic products!
do
Sawmills and logging camps
^n
Furniture and finished lumber products!
dollars
do_
Furniture
. . .
_ . . .
Stone, clay, and glass products!
do
Nondurable goods industries! _
_ do. _
Textile-mill products and other fiber manufactures!
dollars
Cotton manufactures, except small wares!
r?ollnrs
do
Silk and rayon goods!
Woolen and worsted manufactures (except
dyeing and
finishing)!
dollars
Apparel and other finished textile products!
dnliflrs
Men's clothing!
do
Women's clothing!...
do....
Leather and leather products!...
.do.—
Boots and shoes _
do
do
Food and kindred productsf
do
Baking!
Canning and preserving!.
do
Slaughtering and meat packing
do
Tobacco manufactures!.
do
do
Paper and allied products! . _
do
Paper and pulp
Printing, publishing, and allied industries!
rlnilnrs
49.45
50.93
48.40
45.81
39 96
56.82
37 74
51.06
56.36
i 45.52
45.88
54.33
37.26
50.72
56.30
49.04
i 46.14
43.69
55.31
37.33
51.99
57.14
49.61
i 46. 85
44.76
54.98
37.90
52.22
57.10
49.90
i 46. 26
37.94
61.31
37.67
52.80
57.40
i 47. 43
41.14
61.57
39.16
53.69
58.21
49.44
1 47.03
41.10
57.12
37.97
53.20
57.75
49.18
i 49. 30
42.73
51.88
35.04
53.61
58.41
49.36
i 47.38
40.77
'56.62
' 36. 52
'53.82
58.50
' 50. 70
i 48.00
41.65
'68.51
' 37.19
53.34
58.02
50.95
149.30
41.33
67.66
37.12
54.50
59.87
59.76
67 16
56.81
50 59
56 80
59 64
62 17
55 49
61 35
59.37
66 63
56.77
51 00
67.73
60 67
64 12
65 74
62 06
59.48
67.74
65.95
51.27
57.44
60.62
63.12
55.92
61.15
61.61
69.40
58.32
v 1.81
67.98
61.84
64.75
57.76
64.75
61.62
69.18
58.63
52.67
58.46
60. 94
63.51
57.62
63.78
62.30
69.78
69.35
53.15
59.21
62.54
65.86
57.99
64.86
63.37
71.45
60.22
53.73
60.07
63.21
66.32
59.47
65.74
62.41
68.96
60.23
54.31
60.80
64.47
67.54
57.33
62.72
62.72
70.36
60.13
54.12
60.82
64.58
67.64
54.70
58.22
63.97
71.32
60.96
' 54.15
60.84
' 64. 62
67.77
53.24
55.54
64.50
72.92
61.26
'54.35
60.97
'64.15
68.02
53.44
56.54
65.04
72.78
61.97
55.23
61.48
66.85
70.85
55.72
61.15
1.226
1.303
1.363
1.230
1.305
1.365
1.236
1.312
1.376
1.249
1.331
1.396
1.258
1.337
1.397
1.268
1.346
1.404
1.278
1.364
1.412
1.285
1.355
1.414
. 1.287
1.352
1.409
1.289
1.352
1.412
' 1.292
' 1.357
'1.416
1.301
' 1.365
1.423
1.472
1.295
1 363
1.478
1.308
1 371
1.488
1.314
1.377
1.513
1.325
1.395
1.502
1.331
1.400
1.510
1.339
1.404
1.519
1.346
1.413
1.533
1.352
1.415
1.513
1.348
1.417
1.510
1.350
'1.421
1.513
1.350
' 1.429
1.515
1.357
1.438
1.336
1.381
1 485
1.349
1.366
1 496
1.353
1.394
1.500
1.370
1.405
1.515
1.374
1.408
1.526
1.381
1.412
1.540
1.391
1.424
1.563
1.389
1.420
1.538
1.392
1.432
1.548
1.395
1.433
1.539
1.403
1.439
' 1.533
1.412
1.446
1.545
48.27
i 45. 50
39 37
54.40
36 30
49.95
54.83
1
1.387
1.395
1.406
1.424
1.437
1.462
1.465
1.479
1.482
' 1.472
1.478
1.481
1.341
1 428
1.421
1.286
1.053
1.040
1.372
1.435
1.421
1.289
1.033
1.018
1.381
1.443
1.447
1.294
1.048
1.044
1.386
1.460
1.460
1.309
1.062
1.049
1.395
1.461
1.490
1»312
1.063
1.046
1.413
1.461
1.529
1.320
1.074
1.066
1.406
1.485
1.525
1.327
1.056
1.032
1.408
1.461
1.567
1.336
1.050
1.023
1.406
1.452
1.582
1.338
1.080
1.055
'1.414
1.467
1.539
1.344
1.071
'1.046
'1.421
1.491
1.541
1.343
1.080
1.053
1.428
1.494
1.531
1.354
1.113
1.090
1 061
1.085
1.190
1.140
1 058
1.079
1.198
1.150
1.070
1.089
1.208
1.158
1.093
1.117
1.227
1.166
1.105
1.130
1.234
1.176
1.108
1.137
1.247
1.186
1.117
1.145
1.245
1.196
1.122
1.151
1. 253
1.210
1.127
1.155
1.255
1.217
1.126
' 1.156
1.260
'1.220
1.131
' 1.161
' 1.271
1.219
1.135
1.164
1.286
' 1.231
1.024
1.028
1.032
1.048
1.055
1.090
1.100
1.115
1.139
1.140
1.138
1.141
970
1.017
.973
1.023
.977
1.043
.986
1.057
.991
1.062
1.051
1.088
1.061
1.100
1.077
1.137
1.083
1.147
1.081
1.151
1.076
1.156
1.076
1.157
1.160
1.160
1.156
1.169
1.178
1.188
1.192
1.195
1.303
'1.313
1.311
1.314
994
1.104
1.182
1.053
1.020
1.119
» 1. 067
1.045
1.122
.950
1.165
1.231
1.020
1.098
1.241
1.055
1.018
1.121
1
1. 074
1.003
1.282
.953
1.190
1.266
1.038
1.090
1.285
1.057
1.018
1.140
1
1.091
1.083
1.267
.951
1.196
1.276
1.046
1.106
1.279
1.072
1.035
1.129
1
1.104
1.025
1.276
.952
1.210
1.283
1.051
1.120
1.279
1.082
1.046
1.169
1.115
1.100
1.273
.954
1.215
1.287
1.019
1.116
1.217
1.095
1.059
1.173
1.115
1.062
1.306
.956
1.222
1.292
1.062
1.136
1.270
1.092
1.056
1.175
1
1.119
1.093
1.291
.983
1.226
1.295
1.094
1.178
1.327
1.095
1.059
1.177
U. 131
1.102
1.275
.984
1.235
1.301
1.098
1.176
1.334
1.102
1.065
1.181
11,132
1.118
1.277
••.968
1.245
1.310
'1.092
1.188
'1.310
1.106
1.071
1.187
i 1.131
1.120
' 1.301
'.968
1.249
1.313
' 1.040
1.173
' 1.201
1.116
1.080
1.199
11.138
1.132
' 1.425
'.973
1.250
1.313
1.040
1.171
1.206
1.124
1.081
1.207
U.147
1.134
1.424
.984
1.273
1.340
1.499
1.498
1.508
1.534
1.540
1.556
1.568
1.579
1.604
1.621
1.645
1.663
1
P
P
1.319
1.390
* 1.242
1.776
1.867
1.812
1.797
1.753
1.719
1.873
1.843
1.791
1.758
1.736
1.713
Newspapers and periodicals*
do
1.469
1.451
1.479
1.436
1.406
1.551
1.493
1.528
1.408
1.4C6
1.572
1.528
Printing, book and job*
do
1.287
1.325
1.311
1.315
1.273
'1.315
1.293
1.262
1.345
1.263
1.232
1.247
Chemicals and allied products!
do
1.448
1.484
1.432
1.432
fin
1.479
1.457
1.410
1.490
1.483
1.477
1.390
1.404
Chemicals
1.518
1.494
1.581
1.551
1. 506
1.586
1.509
1.464
1.632
' 1.593
' 1. 601
1.495
Products of petroleum and coal!
do
1.607
1.699
1.591
1.703
1.593
1.567
1.741
1.692
1.689
1.647
1.570
1.532
Petroleum refining
fin
1.453
1.444
1.421
1.454
1.438
1.447
1.413
1.445
1.435
1.419
1.408
1.445
Rubber products!
. . .
do
1.661
1.647
1.661
1.603
1.646
1.613
1.640
1.658
1.615
1.636
1.640
1.599
Rubber tires and inner tubes
do
Nonmanufacturing industries:*
1.774
1.765
1.781
1.738
1.718
1.689
1.661
1.806
1.833
'1.818
1.669
do. .
1.805
Building construction
Mining:
1.754
1.764
1.784
1.765
1.596
1.776
1.817
1.756
1.780
1.774
2-1.708
1.575
Anthracite
do *
2
1.851
1.819
1.847
1.826
1.798
1.489
' 1.842 ' 1 . 8 2 3
1.826
1.787
1.740
Bituminous coal
1.841
do
1.380
1.356
1.354
1.371
1.370
1.360
1.370
' 1.372
' 1.366
1.311
1.323
Metalliferous
1.385
do
1.178
1.121
1.175
1.169
1.156
1.212
1.186
1.176
1.146
1.129
1.225
do..__
1.260
Quarrying and nonmetallic ._.
1.554
1.543
1.627
1.494
1.510
1.638
1.486
1.475
1.662
1.614
1.605
1.481
Crude petroleum and natural gas§ „ ..do
Public utilities:
1.426
1.428
1.378
1.414
1.392
1.388
1.390
1.374
Electric light and power..
do...
1.428
1.443
1.427
1.408
1.276
1.241
1.299
1.265
1.265
1.212
1.295
1.295
1.288
1.293
Street railways and busses
do...
1.300
1.231
1.253
1.234
1.257
1.228
1.265
1.236
1.257
1.227
1.349
1.226
1.267
1.381
Telegraph
do
1.254
1.241
1.215
1.241
1.229
1.218
1.230
1.242
1.223
1.238
1.211
1.255
Telephone!
do
Services:
.925
.892
.924
.919
.911
.899
.898
.921
'.924
.923
do___
Dyeing and cleaning!
'.933
.936
.807
.786
.786
.771
.767
.787
.769
.802
.813
.805
.797
Power laundries§___
do.._
.816
.684
.672
.662
.650
.660
.695
.695
.695
.695
.693
.710
.687
Year-round hotels
do. .
Trade:
r
1.025
1.013
1.012
1.044
.996
1.C03
1.044
1.003
1 055
1.064
1.050
1.016
Retail
do
1.258
1.262
1.314
1.257
1.289
1.281
1.334
1.309
1.343
1.300
1.346
Wholesale
1.363
.do....
Revised. * Preliminary.
2
J Not strictly comparable with data prior to May 1947; comparable April 1947 figures—weekly earnings, $43.62; hourly earnings, $1,039.
Data reflect work stoppages.
§See note in September 1947 Survey regarding a change in 1945, also in 1942 for the women's clothing industry, which affected comparability of the data.
•New series. See note marked " • " on p . S-14 of the September 1947 Survey for reference to available data for the indicated series with the exception of hourly earnings for year-round
hotels which has not been included previously; data beginning 1939 for this item are available on request.
tRevised series. See note marked " ! " on p . S-13.
SURVEY OF CURRENT BUSINESS
August 1948
Unless otherwise stated, statistics through
1941 and descriptive notes may be found
in the 1942 Supplement to the Survey
S-15
1947
June
July
August
September
1948
October
November
December
January
February
March
April
May
June
EMPLOYMENT CONDITIONS AND WAGES—Continued
WAGES—Continued
Miscellaneous wage data:
Construction wage rates (E. N. R.):§
Common labor
_
dol. per hr__
Skilled labor
do
Farm wages without board (quarterly)
dol per month
Railway wages (average, class I)
dol. per hr_.
Road-building wages, common labor:
1.185
2.02
1.233
2.07
1.237
2.08
1.237
2.10
1.263
2.13
1.265
2.13
1.272
2.14
1.272
2.14
1.272
2.15
1.283
2.15
1.287
2.17
1.315
2.18
1.140
114.00
1.133
1.137
1.264
112.00
1.250
1.305
1.290
113.00
1.297
1.326
1.279
113.00
1.279
1.292
.80
.92
122
123
125
126
110
82
13
112
83
112
84
13
i 121.00
.95
.91
1.01
1.352
2.25
PUBLIC ASSISTANCE
Total public assistance
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
100
82
13
13
128
129
132
134
137
138
139
139
P139
114
85
14
115
86
14
116
87
15
118
88
16
121
89
17
120
88
18
121
89
17
123
90
16
*123
*>90
»16
FINANCE
BANKING
Agricultural loans outstanding of agencies supervised by the Farm Credit Administration:t
1,778
1,743
1,707
1,724
1,713
1,699
1,809
1,763
1,739
1,746
1,746
1,731
1,706
Total
mil. of dol
954
962
952
955
982
973
958
954
993
1,018
1,007
1,033
1,028
Farm mortage loans, total
do
864
864
860
862
875
869
861
860
891
882
910
900
907
Federal land banks
. do_ _
103
88
90
95
98
107
115
93
118
123
100
111
121
Land Bank Commissioner..
do
223
281
234
249
288
270
240
237
205
159
Loans to cooperatives, total
. do_ _
278
284
180
601
623
539
467
444
445
495
574
522
500
462
514
523
Short-term credit total
do
97,300
91,646
87, 226
96,483
80,771
93,966
94,058
82, 740 106, 520
75,048
81, 799
84,897
83,957
Bank debits, total (141 centers)f
do. .
40,633
37,955
35,429
39, 587
32,271
37,615
37,504
31, 738
46, 225
28,331
31,837
35,632
34,779
New York City
.do
56,667
53,691
51,797
56,896
48,500
56,351
56, 554
51,002
60,295
46, 720
49,962
49,178
49,267
Outside New York City
. . . do_ .
Federal Reserve banks, condition, end of month:
46, 270
46,991
47,327
46,583
47,067
46,589
47,712
45,499
47,205
46,153
45,615
44,626
44,425
Assets, total
. mil. of dol__
21, 576
22, 782
22,109
21,900
21,607
22,975
22,906
22,759
22, 730
21,875
20,858
22,170
23,181
Reserve bank credit outstanding, total.-.do
306
327
430
331
92
266
431
296
249
185
137
70
Bills discounted
. . .
_ _ _. do
85
21,366
20,340
20,
662
20,887
21,024
21,925
22,
209
22,559
22,168
22,329
22,192
21,872
21,
549
United States securities
do
22,258
21,910
22,036
21,878
21,776
21,701
21,363
21,497
21,044
20, 723
20,534
20,039
20, 296
Gold certificate reserves
do
47,067
45,499
46, 270
46,589
46,991
47,327
47,205
47,712
46, 583
46,163
45,615
44,425
44,626
Liabilities, total
. _ do .
20,176
19,007
19, 761
19,610
19,807
20,311
19,431
19, 731
19,240
18,718
18,695
17, 748
17,869
Deposits total
do
17,389
16,944
17, 021
16,639
17,062
16,919
16,974
17,899
16,956
16, 784
16,601
16,112
16,007
Member-bank reserve balances
_ _ do
768
'848
655
864
762
841
829
1,499
823
399
737
738
Excess reserves (estimated)
do
24,156
23,768
23,675
23,675
24,481
24,045
24,651
24,820
24,482
24,345
24,090
23,648
24,164
Federal R; eserve notes in circulation
do
48.8
50.4
48.3
50.7
48.5
48.1
48.0
50.7
49.7
47.7
48.4
51.4
47.8
Reserve rat o
percent
Federal Reserve weekly reporting member banks,
condition, Wednesday nearest end of month:f
Deposits:
47,296
48,833
47,771
46, 646
45,340
48,685
46,42G
47,056
48,247
46,954
46,626
47,145
46,671
Demand, adjusted
mil. of dol
Demand, except interbank:
Individuals, partnerships, and corporations
47,134
47,988
46,627
45,445
48, 701
47,330
48,379
49,809
46,671
46, 884
46,816
46,443
46,418
mil. of dol_.
3,264
3,219
3,363
3,076
3,517
3,027
3,124
3,109
3,146
3,246
3,191
3,484
States and political subdivisions — . do
3,478
1,252
693
1,297
1,009
1,561
1,265
741
969
940
596
648
1,309
793
United States Government
do
14,693
14,877
14, 772
14,801
14, 584
14, 561
15,016
14,478
14,520
14,460
14,470
14, 790
Time, except interbank, total
_,.
do.
14,609
Individuals, partnerships, and corporations
14,127
14,283
14,256
14,175
14,151
14,221
14,417
14,069
14,192
14,104
14,055
14,061
14,222
mil. of dol..
517
471
391
328
478
327
520
328
338
334
328
329
492
States and political subdivisions.
do
9,914
10,422
11,178
9,750
10,681
11,117
10,200
11,121
11,643
10,833
10,581
10,320
Interbank
do
9,701
39, 415
38, 768
40,055
41, 559
41,798
42,462
41,487
42, 740
42,687
38,868
43,094
42,971
39,780
Investments, total
do
U. S. Government obligations, direct and
37,323
35, 218
34,433
35,845
38,400
38,192
38,354
34,632
37, 560
37, 227
38,990
38,739
35,475
guaranteed, total
..mil. of dol_.
2,209
519
1,986
1,272
2,048
769
682
989
948
1,530
638
Bills
do...
2,219
1,665
4,674
4,879
3,745
3,839
3,972
3,410
4,032
3,291
3,338
4,025
4,138
4,648
4,535
Certificates
_
__.do
28, 965
30,973
27, 111
26, 018
27,266
30,474
29,505
31, 224
31,015
30,701
25,884
30,935
26,997
Bonds (inc.. guaranteed obligations)._.do
2,739
2,335
2,632
2,559
2,418
2,652
2,305
2,854
2,619
2,847
2,631
2,409
2,420
Notes.
_
do
4,197
4,210
4,335
4,236
4,270
4,238
4,260
4,340
4,233
4,104
4,232
4,305
Other securities
do_-_
4,236
23,160
23, 521 2 23,770
23,439
23,453
23,3S4
22, 572
23, 229
23,329
22,056
21, 212
20, 277
20, 608
Loans, total
do_
14,113 2 14,342
14, 727
13,817
13,136
14,540
12, 518
14,417
14,358
11,809
11, 967
14,159
14, 658
Commercial, industrial, and agricultural.do
674
1,234
1,058
970
905
831
1,166
1,095
2 1,152
1,266
919
To brokers and dealers in securities
.do
809
784
Other loans for purchasing or carrying securities
811
975
772
764
976
mil. of dol_.
975
986
1,023
761
945
880
3 781
749
Real estate loans
. do
3,516
3,244
3,569
3,316
3,079
3,755
3,615
3,171
2,981
3,388
3,460
2 3,822
3,669
180
246
219
233
187
106
235
168
215
216
2 151
230
Loans to banks
.
. . .
do
190
3,604
3,540
3,486
3,502
3,306
3,431
3,241
3,167
3,109
Other loans
- - . . . . .
do
3,077
2 3,726
3,389
3,584
Money and interest rates:1
Bank rates to customers:
1.83
1.82
New York City .
percent
2.09
1.77
2.52
2.27
2.25
7 other northern and eastern cities.
do
2.44
2.61
2.69
11 southern and western cities _
_ do
2.95
2 83
1.26
1.00
1.00
1.00
1.25
1.25
1.25
1.00
1.00
1.00
1.00
Discount rate (N. Y. F. fi. Bank)
do
1.25
1.25
4.00
4.00
4.00
4.00
4.00
4.00
4.00
4.00
Federal land bank loanscf
do
4.00
4.00
4.00
4.00
4.00
1.88
1.58
1.53
1.52
1.52
1.69
1.63
1.54
1.54
1.62
1.83
Federal intermediate credit bank loans
do
1.88
1.58
Open market rates, New York City:
Acceptances, prime, bankers', 90 days
.81
.94
1.06
.94
.81
percent _ .
1.06
1.06
1.03
.04
.88
1.06
1.06
1.06
1.00
Commercial paper, prime, 4-6 months
do
1.00
1.38
1.38
1.06
1.06
1.19
1.31
1.06
1.00
1.38
1.38
1.38
Time loans, 90 days (N. Y. S. E.)
do....
1.50
1.50
1.50
1.60
1.50
1.50
1.50
1.50
1.50
1.50
1..50
1.50
1.50
Call loans, renewal (N. Y. S. E.)
_.do
1.S8
1.38
1.50
1.50
1.38
1.38
1.38
1.50
1.38
1.38
1.50
1.50
1.50
r
Revised. *> Preliminary. * Rate as of July 1. O Reported quarterly after July 1947 for the week nearest the 15th of the month indicated.
2
Beginning June 30,1948, individual loan items are reported gross, i. e., before deduction of valuation reserves, instead of net as previously. Comparable data on a gross basis are available only for June 23, 1948. As of that date gross loans were 0.7 percent higher than net amounts for commercial, agricultural and industrial loans, 0.3 percent higher for "other loans for purchasing and carrying securities" and real estate loans, and 1.6 percent higher for "other loans." Total loans for June 30 are shown on a net basis as previously and therefore do not agree with
the sum of the individual items.
1 For bond yields see p. S-19. § Rate as of August 1,1948: Construction—Common labor, $1,386; skilled labor, $2.29. Revisions, 1947; Common labor, January, $1,110; February, $1,118;
skilled labor, January, $1.90.
t The total and total short-term credit have been revised to include emergency crop and drought relief loans which are now supervised by the Farmers Home Administration and publication
of the detail for short-term credit and loans to cooperatives has been discontinued in the Survey; see September 1947 Survey for loans included in these totals.
cf Rates on all loans; see note on item in April 1946 Survey.
t Revised series. Bank debits were revised in the September 1943 Survey to include additional banks, see p. S-15 of that issue for revised figures for May-December 1942. The series for
weekly reporting banks have been shown on a revised basis beginning in the August 1947 Survey; see note in that issue.
SURVEY OF CURRENT BUSINESS
S-16
Unless otherwise stated, statistics through
1941 and descriptive notes may he found
in the 1942 Supplement to the Survey
August 1948
1948
1947
June
September
August
July
November
October
December
February
January
March
April
May
June
FINANCE—Continued
BANKING—Continued
Money and interest rates—Continued
Open market rates, New York City—Continued
Average yield on U. S. Govt. securities:
.376
3-month bills
percent..
1.29
3-5 year taxable issues}: _ _
do
Savings deposits, balance to credit of depositors:
9,535
New York State savings banks
mil. of dol_.
3,393
U. S. Postal Savings
do
CONSUMER SHORT-TERM CREDIT*
Total consumer short-term debt, end of month *
mil. of dol_- ' 11,244
' 4,933
Installment debt, total*
_
do
2,036
-Sale debt, total*
do
880
Automobile dealers*do
Department stores and mail-order houses*
423
mil. of dol._
395
Furniture stores*
do _
37
Household appliance stores*..
__.do
119
Jewelry stores*
do
182
All other*
_
do
' 2,897
Cash loan debt, total* _
do _
' 1,248
Commercial banks*
do
'186
Credit unions* _
__
do
143
Industrial banks*
do
119
Industrial loan companies* . . .
do
638
Small loan companies
do
Insured repair and modernization loans*
450
mil. of dol__
113
Miscellaneous lenders* _
do
2,887
Charge account sale debt*
do
2,608
Single payment loans* _
do
916
Service credit*
do
•Consumer installment loans made by principal
lending institutions:
'222
Commercial banks*
mil. of dol_.
'37
Credit unions*
__.
do
26
Industrial banks* __
do
24
Industrial loan companies*.
_
do____
117
Small loan companies
do
FEDERAL GOVERNMENT FINANCE
Budget receipts and expenditures.^
5,640
Expenditures, total
__._
mil. of dol_.
1,396
Interest on public debt _ _ _ _ _
do
601
Veterans' Administration
do
1,493
National defense and related activities...do
1,080
All other expenditures. _
do
5,481
Receipts, total.
do
5,473
Receipts, net _ _ _ _ _ _
_
do
85
Customs.
do
3,270
Income taxes
do
121
Social security taxes
do
602
Miscellaneous internal revenue
do
1,453
All other receipts
_
do
D e b t , gross, end of month:
258, 286
Public debt, total.
do
255,113
Interest-bearing, total _ _ _ _ _ _
do
227, 747
Public issues
do
27, 366
Special issues to trust accounts,etc
-do___
3,173
Noninterest bearing
do
Obligations guaranteed by U.S. Government
83
.
mil. ofdoL
U. S. savings bonds:*
51, 407
Amount outstanding,.
do
482
Sales, series E, F, and G
do
433
Redemptions.
_
do
Government corporations and credit agencies:f
29, 666
Assets, except interagency, total
mil. of dol_.
7,662
Loans receivable, total (less reserves) _ do. _
2,054
To aid agriculture
_
do
To aid home owners.._
do_ .
660
To aid railroads
do_ _
164
To aid other industries.
_ _ _ do
224
To aid banks
_
_
do
6
293
To aid other financial institutions _ _ do_ _
4,058
Foreign loans.
do
A 11 nttipr
r\r\
Commodities, supplies, and materials
do
U. S. Government securities. __
do
Other securities
do
Land, structures, and equipment
do
All other assets _
do
Liabilities, except interagency, total
...do
Bonds, notes, and debentures:
Guaranteed by the United States
do
Other
do
Othpr liabilities
do
U. S. Government interests
do
.703
1.33
.748
1.31
.804
1.28
.857
1.35
.932
1.47
.950
1.54
.977
1.63
.996
1.63
.996
1.60
.997
1.58
.997
1.51
.99S
1.49
9,556
3,398
9,580
3,396
9,630
3,407
9,655
3,412
9,681
3,413
9,802
3,417
9,855
3,432
9,904
3,441
9,959
3,435
9,986
3,415
10,017
' 3,395
10,111
p 3,372
' 11, 321
' 5,063
2,092
922
' 11, 454
' 5,198
2,167
965
' 11, 708
' 5,314
2,257
1,004
' 12, 084
' 5,490
2,370
1,047
' 12, 671
' 5, 765
2,551
1,099
' 13, 423
' 6,189
2,839
1,151
' 13,096
' 6, 219
2,818
1,202
' 12, 978
' 6,284
2,835
1,254
' 13, 423
'6,533
2,986
1,367
' 13,627
' 6, 769
' 3,137
' 1,468
p 13,818
v 6, 963
p 3, 258
v 1, 536
p 14,149
p 7,192
p 3,399
p 1,631
429
398
39
120
184
' 2,971
' 1, 278
'194
148
462
423
43
128
197
' 3,057
' 1,320
'204
154
125
643
495
443
46
131
208
' 3,120
' 1,350
'208
157
127
647
555
474
49
145
229
' 3,214
' 1,383
'215
162
130
670
650
528
52
192
266
' 3,350
' 1, 435
'225
166
134
712
632
502
52
176
254
' 3, 401
' 1,462
'227
165
137
717
624
492
52
164
249
' 3, 449
' 1, 483
'230
167
140
721
653
497
54
160
255
' 3, 547
' 1, 530
'241
173
143
733
680
511
60
155
263
' 3, 632
' 1, 570
'252
180
146
739
P
649
440
408
41
124
189
'3,031
' 1,307
'200
152
124
652
467
114
2,786
' 2, 549
923
482
114
2,755
' 2,581
920
497
114
2,864
' 2,609
921
517
114
3,029
' 2,647
918
538
116
3,309
' 2,680
917
558
120
3,612
' 2, 702
920
572
121
3,240
' 2, 713
924
587
121
3,067
' 2, 705
928
604
123
3,281
' 2, 689
926
'622
123
' 3, 259
' 2, 665
'934
v 124
v 3, 263
P 2,660
'227
'38
29
23
123
'213
'36
26
22
113
'216
'35
27
24
107
'228
'39
28
23
121
'233
'39
27
25
142
'267
'46
33
30
191
'247
'38
27
26
110
'221
'38
25
25
107
'286
'48
32
29
140
'269
'50
31
27
121
3,669
245
564
979
1,881
2,470
2,397
37
1,382
80
663
307
3,060
103
511
908
1,538
2,866
2,536
31
1,668
352
643
172
2,932
668
494
1,006
764
4,885
4,872
34
3,435
133
699
£85
2,445
157
481
1,151
656
2,456
2,390
42
1,345
70
782
217
2,194
127
526
936
605
3,054
2,743
32
1,666
329
695
331
3,224
972
568
996
688
4,260
4,246
35
2,769
142
767
547
2,879
401
524
1,069
885
4,310
4,275
37
3,237
51
656
329
2,402
142
529
850
881
4,614
4,336
34
3,159
423
629
369
3,546
608
597
850
1,491
6,365
6,334
41
5,165
176
739
243
3,109
154
582
909
1,464
2,881
2,806
35
1,858
83
662
243
2,604
124
530
933
1,017
3,083
2,707
31
1,785
401
673
193
i 7,261
1,508
562
930
14,260
5,119
5,102
33
3,701
142
694
550
259,448
256,321
227,805
28, 516
3,127
260.097
257,110
227,890
29, 220
2,987
259,14t
256,107
226,587
29, £20
3,038
259, 071
256, 270
226,822
29, 447
2,801
258, 212
255, 591
226,074
29, 517
2,621
256, 900
254, 205
225, 250
28, 955
2, 695
256, 574
253, 958
224,810
29,148
2,616
254, 605
252,100
222,854
29, 246
2,505
252,990
250, 634
221,362
29,272
2,356
252, 240
249,920
220, 718
29,201
2,320
252, 236
249, 958
220, 636
29, 323
2,278
252, 292
250,063
219,852
30, 211
2,229
74
73
78
83
76
72
74
73
70
70
69
52,039
412
357
52,174
487
434
52, 575
770
454
53,061
588
462
53,133
468
452
53,207
432
428
53, 333
497
465
J21
51, 589
559
457
51,699
460
404
.
70
51, 759
466
432
51, 928
488
404
52,875
607
364
597
851
1,777
3,565
12,691
31,037
9,212
2,200
665
162
240
6
340
5,405
591
1,093
1,725
3,553
12, 662
30,966
9,714
2,299
556
147
272
5
442
5,673
714
822
1,685
3,539
12,600
31,107
10,134
2,399
623
147
259
5
379
6,093
613
570
1,845
3,526
12, 535
2,634
2,895
2,808
2,724
83
606
2,045
269
26, 763
84
667
2,144
138
28,005
82
689
2,037
76
781
1,868
150
28,233
143
28,015
P703
P528
P155
P271
3, 705
p 1, 597
*260
P189
P721
P542
P158
p 279
p 3, 793
p 1, 634
P274
P 194
v 147
p 150
P748
P758
P932
%
P658
P125
p 3,364:
p 2, 662
p 931
2«
P
31
p 37
P28
p
Revised, P Preliminary.
1
Includes $3,000,00J,000 transferred to the "Foreign Economic Cooperation Trust Fund", and considered expended during the fiscal year 1948, as required by the Economic Cooperation
^ c t of 1948; the effect of this transfer is to charge the budget in the fiscal year 1948 for expenditures to be made in the fiscal year 1949.
t This series has been substituted beginning December 1945 for the series formerly designated "taxable treasury notes"; see note on item in September 1947 Survey for earlier data.
*New series. Annual data beginning 1929 and monthly data beginning 1939 for credit unions have been revised to exclude real estate mortgage loans. Data beginning January 1947 for
loans of commercial banks and July 1947 for single payment loans have been revised on the basis of June and December 1947 call data for insured commercial banks. Data for total consumer
short-term credit, total installment credit, total installment cash loans have also been revised to incorporate these changes. Revisions for earlier periods will be published in the Survey.
These revisions for all series appear in the August 1948 Federal Reserve Bulletin. Data for 1929-46 for installment sale credit, charge account sale credit and service credit are on p. 24 of the
April 1948 Survey. See notes marked " * " on p. S-15 and p. S-16, respectively, of the April 1946 and September 1947 Survey with regard to data for other components. See note in the
February 1947 Survey for information on the series for U. S. savings bonds and reference to the earliest data published.
fRevised series. Total Federal expenditures has been revised to include net expenditures (excluding debt retirement) of wholly-owned Government corporations, shown separately prior
to the October 1947 Survey, and several changes have been made in the detail. Data for "national defense and related activities" (formerly designated "war and defense activities") exclude
beginning July 1947 certain miscellaneous items included in earlier data (see note 5 on p. S-17 of September 1947 Survey). Data for Veterans Administration include veterans' pensions and
benefits and transfers to trust accounts. Data for social security taxes have been revised to exclude railroad unemployment insurance contributions which are not classified as internal revenue.
See notes in May 1946, October 1946, and February 1947 issues of the Survey for explanation of changes in data for assets and liabilities of Government corporations and credit agencies; the
proprietary interest of the United States in the Federal land banks ceased on June 26,1947, and data for the banks were dropped from the series effective June 30, 1947; the exclusion of these
4ata largely accounts for the decline from March to June 1947 in loans to aid agriculture, investment in U. S. Government securities, "other" bonds, etc., under liabilities, and privately owned
interests. See note in November 1946 issue for explanation of revised classifications for the Reconstruction Finance Corporation.
SURVEY OF CURRENT BUSINESS
August 1948
Unless otherwise stated, statistics through
1941 and descriptive notes may be found
in the 1942 Supplement to the Survey
S-17
1948
1947
June
July
August
September
October
November
December
January
February
March
April
May
June
42,070
42,345
6,694
6,816
668
678
6,026
6,138
700
712
1,513
1,523
31,851
31, 617
17, 586
17, 709
. 16, 338
16,208
5,979
5,850
2,479
2,472
5,814
5,579
723
602
841
823
' 410, 719 ' 481, 627
51, 275
87,468
34,674
36,066
68, 528 r 80,687
283,366
' 254,922
42, 567
6,943
692
6,251
749
1, 533
31,960
17,369
15,991
6,101
2,502
5,988
524
858
378, 769
48,791
31,082
58,264
240, 632
42, 759
7,058
706
6,352
752
1,542
32,008
17,215
15,837
6,203
2,502
6,088
533
866
382,810
41,296
29,056
69,319
243,139
432, 885
52,493
31, 360
72,129
276, 903
1,816
225
347
1,244
83
305
265
119
143
51
102
42
135
FINANCE—Continued
FEDERAL GOVT. FINANCE—Continued
Reconstruction Finance Corporation, loans outstanding, end of month, totalf
mil. of dol_.
Banks and trust cos., incl. receivers
do
Other financial institutions
do
Railroads, including receivers
do
Loans to business enterprises, except to aid in
national defense
mil. of dol__
National defense
do
Other loans and authorizations
do
1,271
159
40
144
1,150
157
40
144
1,154
153
40
143
1,151
152
40
142
1,154
151
40
142
1,152
149
40
142
1,165
147
42
142
203
283
441
207
283
318
214
282
320
218
280
318
226
283
312
228
280
312
246
279
309
40,446
6,041
639
5,402
639
1,490
30, 940
18,864
17,478
5,169
2,500
4,407
546
790
r
357, 502
41,310
27,147
r
64,056
r
224,989
40, 693
6,131
641
5,490
641
1,494
30, 893
18,640
17, 255
5,303
2,504
4,446
703
831
r
392, 520
47,410
27, 720
' 75,862
r
241, 528
40,903
6,242
645
5,597
658
1,498
31,093
18,623
17,241
5,446
2,499
4,525
582
830
r
370,906
48,640
30,961
/ 59, 604
231, 702
41,069
6,340
649
5,691
665
1,500
31, 209
18, 451
17,059
5,609
2,499
4,650
543
812
r
362,185
45, 838
22, 478
r
64,837
r
229,032
1,616
186
326
1,104
73
257
241
110
122
45
93
38
125
1,583
212
324
1,048
68
231
231
107
124
43
93
36
114
1, 857
201
366
1,290
90
321
290
127
140
48
95
42
138
1,797
203
336
1,258
85
323
284
124
134
47
93
39
129
2,201
436
287
1,478
91
346
318
153
169
56
115
57
173
1,818
178
309
1,331
90
344
304
126
138
51
100
43
135
1,648
195
338
1,115
72
272
252
108
121
41
88
38
124
1,850
225
383
1,243
81
301
272
118
141
50
99
41
140
1,858
201
369
1,287
85
326
278
120
148
51
99
41
140
1,746
157
393
1,196
81
289
255
112
140
48
98
40
134
218,389
101,415
28,367
6,358
17, 574
35, 218
29,457
236,414
108,179
30,167
7,269
17, 795
42,364
30,640
247,149
112, 523
36,261
7,609
18,024
38, 527
34, 205
219, 223
101,334
29,838
6,924
17, 975
35,323
27,829
283,410
122, 777
31,168
8,118
16, 216
69,114
36,017
278,138
121,007
38,987
8,723
24, 275
52,452
32,694
250,600
113,860
35,496
7,111
18,014
44,694
31,425
307,077
142,339
40,157
8,356
19,438
55,083
41,704
273,084
123, 590
36, 706
7,963
19,881
44,446
40, 498
244, 544
109, 455
32, 986
7,472
18,164
40,377
36,090
.2977
.0228
.0544
.8928
.5701
3
.0047
.3017
. 2058
. 3775
.2783
4.0313
.2977
.0228
.0544
.9063
.5701
3.0047
4.3017
.2058
.3776
.2783
4.0315
.2977
.0228
.0544
.9227
.5701
3.0047
4
.3017
.2057
.3775
.2783
4.0312
t. 2977
. 0228
.0544
. 9323
.5701
3
.0047
4
.3017
.2057
.3772
.2782
4.0313
23,169
23,137
- 6 3 , 3 7 6 -111,546
28,178
27,385
262,334
127,328
23, 304
- 2 , 841
61, 887
213,214
» 23, 532
81,671
44, 782
222,523
LIFE INSURANCE
Life Insurance Association of America:
40, 287
Assets, admitted, 36 companies, totalt mil. of dol_. 40,057
5,837
5,953
Mortgage loans, total
do
624
632
Farm. _
_.
do
5,213
5,321
Other
do
622
631
Real-estate holdings
do
1,481
1,485
Policy loans and premium notes
do
30, 740
30,936
Bonds and stocks held (book value), total.do
19,093
18,986
Govt. (domestic and foreign), total
do
17, 704
17, 603
U. S. Government
do
5,111
4,965
Public utility
do
2,512
2,522
Railroad
do
4,160
4,327
Other
_
do
525
588
Cash
do
789
757
Other admitted assets
do
r
381,906
Premium collections totalt
thous. of dol__ ' 403,048
46,
305
63,020
Annuities
do
32,100
24, 301
Group
do
r
' 75, 304
60,664
Industrial
_ _ do
r
257,138 «• 226,122
Ordinary
do
Life Insurance Agency Management Association:
Insurance written (new paid-for-insurance):f
1,830
1,857
Value, total
mil. ofdol
328
291
Group
_
do
318
350
Industrial _
__ _ _ do
1,211
1,380
Ordinary, total
do
78
79
New Ensland
_ _ _ _ do
294
285
Middle Atlantic
do
267
259
East North Central __
do
120
119
West North Central
do
132
132
South Atlantic
_._
do
46
47
East South Central
do
102
96
West South Central... .
do
40
40
Mountain
do
132
132
Pacific
do
Institute of Life Insurance:*
Payments to policyholders and beneficiaries,
251,165
247, 203
total
thous of dol
115,958
108,444
Death claim payments
do
30,997
34, 270
Matured endowments
do
8,509
7,753
Disability payments
do
19,098
18,868
Annuity payments
______
do
40,119
49,237
Dividends
do
32, 522
32, 593
Surrender values, premium notes, etc
do
41, 400
41,892
6,483
6,584
653
657
5,830
5,927
676
695
1,504
1,508
31, 272
31,447
17,925
18, 011
16, 636
16, 539
5,680
5,753
2,475
2,471
5,106
5,298
695
854
804
770
' 540, 554 ••405,921
109, 545
62, 296
35,849
33,018
•" 88,920
65,235
r
306, 240
242,037
MONETARY STATISTICS
Foreign exchange rates:
Argentina.
Belgium
Brazil, free rate§_
Canada, free rate§
Colombia.
France
India
Mexico.
_
dol. per paper peso
dol. perfranc__
dol. per cruzeiro
dol. per Canadian dol
dol. per peso
dol. per franc__
dol. per rupee
dol. per peso
Netherlands
dol. per guilder
Sweden
dol. per krona
United Kingdom, free rate
dol. per £
Gold and silver:
Gold:
Monetary stock, U. S
.mil. ofdol__
Net release from earmark*
thous. of dol__
Goldexportsi
do
Gold imports^
_
do
Production, reported monthly, total® do
Africa®
do
Canada®
do
United States®
do
Silver:
Exportsf
thous. of dol
Imports^
do
Price at New York __ _
dol. perfineoz
Production:
Canada
thous. offineoz _
United States
_
do
.2977
.0228
.0544
.9159
.5698
.0084
.3016
.2058
.3775
.2783
4.0272
.2977
.0228
.0544
.9165
.5698
.0084
.3017
.2058
.3776
.2783
4.0271
.2977
.0228
.0544
.9200
.5698
.0084
.3017
.2058
.3775
.2783
4.0273
.2977
.0228
.0544
.9036
.5698
.0084
.3017
.2058
.3775
.2782
4.0300
.2977
.0228
.0544
.8999
.5698
.0084
.3017
.2058
.3776
.2782
4.0310
.2977
.0228
.0544
.8959
.5698
.0084
.3018
.2058
.3777
.2783
4.0305
.2977
.0228
.0544
.8836
.5698
.0084
.3018
.2058
.3770
.2783
4.0313
.2977
.0228
.0544
.9046
.5699
2.0084
.3017
.2058
.3765
.2783
4.0307
.2977
.0228
.0544
.8906
.5701
3.0047
.3017
.2058
.3771
.2783
4.0311
21, 266
118,958
2,685
202,917
r
59, 655
38,142
9,418
r
5, 664
21, 537
26,745
3,639
222,839
' 64,148
39, 785
9,149
r
6,866
21, 766
42,317
5,118
116, 776
' 61,616
39,181
9,131
r
6, 580
21, 955
153,112
2,085
111, 685
r
60,833
38,833
8,668
r
6, 526
22,294
-3,968
5,619
456,450
' 60, 644
37, 776
9,057
r
7, 733
22, 614
- 8 2 , 786
1,600
267, 301
r
59,738
37,396
8,826
r
5, 791
22, 754
- 4 4 , 592
2,509
180,674
r
60, 433
38,034
9,614
r
6,828
22,935
-14,859
6,590
241, 568
60, 559
39,079
9,568
6,042
23,036
—72,165
2,560
161,948
57, 220
36, 561
r
9,156
5,489
1,685
4,408
.668
1,636
3,410
.636
630
4,659
.657
374
4,440
.706
2, 509
6.087
.716
1,042
6,917
.746
352
3,296
.746
1,636
7,222
.746
1,085
2,746
1,029
1,924
1,062
2,594
924
2,180
1,094
3,243
954
3,589
921
3,724
958
3,938
2
38, 545
10,070
6,372
10,012
5,650
6,078
5,719
220
6,196
.746
229
5,331
.746
5,763
5.560
.746
2,564
9,146
.746
42
5,747
.746
1,036
2,070
1,099
3,383
1,090
3,216
3,253
•3• Revised.
» Preliminary.
i Based on quotations through June 22.
Based on quotations through January 23 when franc was devaluated.
Official rate. The February figure is based on quotations beginning February 10; the free rate for this period and succeeding months is $0.0033. 4 Excludes Pakiston.
JSee note on item in September 1947 Survey for coverage of data and information on a substitution for one company in the assets series in 1944. Beginning January 1948, the data include
total assets of one company that formerly reported assets of the life department only; assets of the accident and health department of this company represent about one-half of 1 percent of total
assets for the 36 companies. Minor revisions for 1946-May 1947 in the total,
industrial and ordinary may be had upon request.
#
§See note on item in September 1947 Survey regarding official rate.
Or increase in earmarked gold (—).
®See notes in the April 1946 and August 1946 issues regarding revisions in the data for 1941-44 and January-May 1945 and note in the January 1948 Survey regarding revisions in the 1946
figures for the United States and corresponding revisions in the total. Beginning in this issue figures for Africa and the total include production in Belgian Congo and the total includes also
production in Mexico and revised figures for Australia. Heretofore data for Belgian Congo and Mexico have not been available currently since May 1940 and March 1942, respectively, and
figures reported through May 1940 for Belgian Congo represented only about 50 percent of production while those formerly included for Australia after December 1943 covered Western
Australia only. Revised annual figures for 1938-46 and monthly figures for January 1946-April 1947 for the total and Africa are available upon request. 1947figuresfor United States and total
are revised to agree with U. S. Mint estimates: January-May, United States—7,159, 5,030, 5,048, 5,794, 6,768; total—60,463, 43,406, 54,391, 57,439, 62,680.
^Publication of data was suspended during the war period; data for November 1941-February 1945 will be published later.
{Revised series. All series for insurance written are estimated industry totals and for group and industrial insurance are not comparable with data published prior to the March 1946 Survey
(see note in that issue); data for 1940-44 for these series will be shown later; data for ordinary insurance continue the data from the Life Insurance Sales Research Bureau published in the 1942.,
Supplement and subsequent monthly issues. See note in November 1943 Survey for explanation of revision in classifications for the Reconstruction Finance Corporation.
•New series. See November 1942 Survey, p . S-16, for a brief description of the series on payments to policy holders and beneficiaries and data for September-December 1941 and early 1942.
SURVEY OF CURRENT BUSINESS
S-18
Unless otherwise stated, statistics through
1941 and descriptive notes may be found
in the 1942 Supplement to the Survey
August 1948
1948
1947
June
July
September
August
November
October
February
January
December
March
April
June
May
FINANCE—Continued
MONETARY STATISTICS—Continued
Money supply:
28,297
Currency in circulation
mil. of dol_Deposits adjusted, all banks, and currency out165,455
side banks, total*
mil. of doL.
Deposits, adjusted, total, including U. S. deposits*
mil. of dol_. 139,156
82,134
Demand deposits, adjusted, excl. U. S.*_do
55,655
Time deposits, incl. postal savings*
do
Turnover of demand deposits, except interbank and
U. S. Government, annual rate:*
25.6
New York City
ratio of debits to deposits
17.9
Other leading cities
__do
28, 766
' 27,812
P 27,901
28, 567
28, 552
166,200
168,400
169,700
' 170,300 ' 171, 446 P 170, 200 p 168, 900 p 166,500 p 167,800 p 168,000 P 168,010
140,200
83,000
55,800
140,800
83,300
55,800
142,100
84,100
56,100
143, 500
86,400
56,300
143,800 ' r144,970 p 144,400 p 143, 200 p 140,900 »142,400 p 142, 600 p 142, 400
85,900
87,123 p 86,600 J-84,600 p 81,600 P83, 000 p 83, 200 p 82, 950
56, 000 ' 56,395 p 56, 500 P 56,800 P 56,900
»56,900 p 57,000 P 57, 250
22.9
17.2
20.6
16.6
23.1
18.0
23.9
18.2
29.9
20.0
26.2
18.7
28,019
27, 781
27,716
28,434
166,900
26.6
19.8
28,868
28, 111
28,149
25.6
18.6
26.5
18.6
27.9
18.7
28.0
19.1
1,409
1,257
1,221
5f;0
'936
'769
'768
652
591
965
899
182
0
26.4
19.1
PROFITS AND DIVIDENDS (QUARTERLY)
Industrial corporations (Federal
Reserve):
Net profits, total (629 cosOtf1
mil. of dolIron and steel (47 cos.)
- - do
AntfymiVhilp*? flfi oos ^
do
Other transportation equip. (68 cos.)
do
Other durable goods (75 cos.)
Oil producing and refining (45 cos.)
Other nondurable goods (80 cos.)
do
.-do
do
Profits and dividends (152 cos.):*
Dividends:
Common
do
Electric utilities, net income (Fed. Res.)*
do
Railways and Telephone cos. (see pp. S-22 and
S-23).
867
100
83
105
153
46
58
64
110
87
92
71
900
100
77
103
157
45
59
85
121
81
93
80
1,033
112
105
115
146
59
71
108
160
88
90
80
432
432
601
23
192
22
190
23
278
166
135
160
P
1, 030
**87
'130
P 49
v
v
62
83
»196
Qg
p 57
v
"527
J-22
»207
»186
SECURITIES ISSUED
Commercial and Financial Chronicle:
Securities issued, by type of security, total (new
capital and refunding) \
mil. of dol._New capital totalt
do
Domestic total!
do
Corporate t
do
Federal acrencies
do
Municipal State, etc
_ _-do
Foreign
__
_
do
Refunding totalj
do
Domestic totalX
do
Corporate?
do
Federal agencies
do
Municipal, State, etc
do _Foreign
do
Securities and Exchange Commission:!
Estimated gross proceeds, total
do
By types of security:
Bonds, notes, and debentures, total
do
Corporate
do
Preferred stock
do
Common stock
do
By types of issuers:
Corporate, total
do
Industrial
do
Public utility
do
Rail
---do
Other (real estate and financial) -do
Non-corporate, total®
do
TJ S Government
do
Federal agency not guaranteed
do
State and municipal
_
do
Fereign
-- do
New corporate security issues:
Estimated net proceeds, total
do
Proposed uses of proceeds:
New money total
do
Plant and equipment
do
Working capital
do -Retirement of debt and stock
do
Funded debt
do _
Other debt
-do
Preferred stock
do
Other purposes
_
_ - do
Proposed uses by major groups:
Industrial total net proceeds
__do ._
New money
do
Retirement of debt and stock
-do
Public utility, total net proceeds . _-do
New money
do
Retirement of debt and stock
_ do. _
Railroad, total net proceeds
do
New money
- do_ __
Retirement of debt and stock
do
Real estate and financial, total net proceeds
mil. of dol-.
New money
_.do _,
Retirement of debt and stock
do
741
608
542
351
785
621
813
713
619
483
12
326
132
8
713
599
0
124
1
185
25
621
258
85
293
255
214
38
175
170
118
40
191
191
147
40
2
38
2,041
11
5
1,777
1,050
1,357
2,414
1,253
2,038
1,376
1,552
97
54
1
0
2,029
1,900
596
1,589
412
1,026
223
1,261
346
2,207
414
1,104
412
1,859
899
1,324
294
1,332
393
1,983
642
1,297
526
112
30
110
79
15
10
67
29
57
150
31
118
70
108
24
28
49
170
25
21
51
58
738
145
601
246
248
81
441
73
622
262
561
218
1,078
346
98
613
441
688
126
636
273
'1,041
'748
'748
21,044
2 870
519
15
'214
0
3
0
28
28
0
166
166
50
114
2
0
504
2
0
612
547
1,063
244
510
425
932
99
19
179
65
388
122
354
71
800
132
121
102
163
154
78
15
17
9
24
16
3
6
9
1
26
45
18
24
239
175
79
71
45
259
193
65
56
307
234
13
140
28
21
306
157
72
107
136
28
22
0
152
152
434
370
64
181
'156
2
56
56
14
39
114
0
118
426
72
41
536
363
630
37
46
46
3
42
99
4
245
435
141
96
2
0
217
1
130
130
83
45
167
24
57
1,030
913
0
116
0
588
129
103
134
134
84
48
498
20
56
960
854
0
105
0
498
15
43
6
5
0
101
0
801
546
39
284
37
22
692
589
0
103
0
727
222
164
101
101
76
20
926
0
495
365
16
308
35
17
1,792
1,673
0
118
0
141
23
3
802
614
0
188
0
2
114
0
165
165
122
42
857
802
310
535
915
637
0
278
0
311
28
14
1,177
790
0
136
0
542
29
22
1,304
1,051
0
214
37
277
0
608
470
37
541
495
1,160
1,029
1,026
23
23
0
5
4
2
103
74
22
7
105
91
18
12
2
26
213
129
496
422
65
303
280
71
277
245
8
31
35
31
4
37
37
0
67
493
480
12
20
20
0
3
0
31
562
50
1
C)
1,407
591
374
35
61
61
4
49
8
0
888
584
21
283
11
66
66
29
34
3
0
r l, 170 1,603,447
' 1,074 1, 442, 439
'310
477
69
26
111
50
269
52
42
771
597
0
174
0
'405
'158
219
24
4
764
574
0
190
0
638
95
406
84
625
121
35
16
939
718
0
220
0
325
81
157
1,341
708
0
633
0
340
594
679
626
'395
294
546
560
434
'356
552
193
101
309
237
343
217
334
100
297
48
449
103
21
1
68
0
0
14
22
12
1
30
1
6
104
0
25
20
0
18
43
26
5
95
70
425
390
123
83
269
154
'152
'120
19
216
209
91
69
32
6
26
24
164
149
6
23
23
0
47
14
114
83
166
62
35
119
106
40
320
281
110
265
233
12
36
31
34
34
0
80
42
37
51
32
19
2
24
24
0
53
966
680
0
286
0
18
399
363
36
83
69
14
41
21
54
57
16
157
4
16
2
52
61
52
15
15
15
2
9
153
3
50
7
38
1
2
1
26
7
1
4
1
C)
C)
C)
2 Includes $250,000,000 bonds of International Bank. (•) Less than $500,000.
cTSee p. 31 of the October 1946 Survey for revised 1941-44 data for 629 companies and the industrial groups. JSee note in the April 1946 Survey for revisions in the data for 1944.
<g>Includes data for nonprofit agencies not shown separately. The July figure includes also $250,000,000 bonds of International Bank.
*New series. For data for 1929-40 for profits and dividends of 152 companies, see p. 21 of the April 1942 Survey; 1941-44 revisions are available upon request. See note on p. S-17 of September 1944 Survey for description of series on net income of electric utilities and data beginning third quarter of 1943. For a brief description of the series on bank deposits and currency outside banks and data beginning June 1943, see p. S-16 of the August 1944 Survey; beginning January 1947 data are for the last Wednesday of the month instead of the end of the month. Data
beginning 1939 for turn-over rate of bank deposits and a description of the data will be published later.
tRevised series. There have been unpublished revisions in the 1941-44 data for security issues compiled by the Securities and Exchange Commission, as indicated from time to time in
notes in the Survey, revisions in the 1945 data as shown in the September 1946 and earlier issues, and in the 1946 data shown in the November 1947 and earlier issues; all revisions will be published
later.
21
21
14
3
SURVEY OF CURRENT BUSINESS
August 1948
Unless otherwise stated, statistics through
1941 and descriptive notes may be found
in the 1942 Supplement to the Survey
June
July
August
1947
September
S-19
1948
October
November
December
January
February
March
April
May
June
FINANCE—Continued
SECURITIES ISSUED—Continued
State and municipal issues (Bond Buyer):
Permanent Gong term)
thous. of dol.
Temporary (short term)
do
COMMODITY MARKETS
Volume of trading in grain futures:?
Wheat
Corn
mil. of bu.
do—
SECURITY MARKETS
Brokers 9 Balances (N. Y. S. E. Members
Carrying Margin Accounts)^
Customers' debit balances (net).
mil. of dol.
Cash on hand and in banks
-do—
Money borrowed
do
Customers' free credit balances
do
Bonds
Prices:
Average price of all listed bonds (N. Y. S. E.)
dollars.
Domestic
do
Foreign
__do_._
Standard and Poor's Corporation:
Industrials, utilities, and railroads:
High grade (15 bonds)
dol. per $100 bondMedium and lower grade:
Composite (50 bonds)__
do_..
Industrials (10 bonds)
___
do
Public utilities (20 bonds)
do_._
Eailroads (20 bonds)
do
Defaulted (15 bonds)
do—
Domestic municipals (15 bonds)t
do
U. S. Treasury bonds (taxable)f
do_._
Sales (Securities and Exchange Commission):
Total on all registered exchanges:
Market value §thous. of dol.
Face value §
do
On New York Stock Exchange:
Market value§
do.-_
Face value§
do—
Exclusive of stopped sales (N. Y. S. E.), face
value, total
thous. of dol_
U. S. Government
do___
Other than U.S.Government,total..do
Domestic
do
Foreign
do_._
Value, issues listed on N. Y. S. E.:
Face value, all issues
mil. of dol_
Domestic
do—
Foreign
do
Market value, all issues
_ -do—
Domestic
do
Foreign
-do
Yields:
Domestic corporate (Moody's)
percent..
By ratings:
Aaa._
do.
Aa
do.
A
_
do.
Baa._
do.
By groups:
Industrials._
do.
Public utilities
do.
Railroads
do.
Domestic municipals:
Bond Buyer (20 cities)
.._
do_
Standard and Poor's Corp. (15 bonds). do
U. S. Treasury bonds, taxablef
do.
Stocks
Dividends:
Cash dividend payments and rates, 600 cos.,
Moody's:
Total annual payments at current rates
mil. of dol__
Number of shares, adjusted
millions..
Dividend rate per share (weighted average)
Banks (21 cos.)
do
Industrials (492 cos.)._
do
Insurance (21 cos.)
_
do
Public utilities (3C cos.)
do
Railroads (36 cos.)
__.do.
Cash dividend payments publicly reported:*
Total dividend payments.._
__mil. of dol.
Manufacturing.
do.
Mining
do_.
Trade
do..
Finance
do..
Railroads
_do..
Heat, light, and power
do..
Communications
do..
Miscellaneous
do..
214,749
49,717
144,801
136, 364
194,220
30, 715
275,006
77,113
121,034
85,242
105, 875
23,010
101,195
148,464
125,763
77,416
227,408
79,895
103,453
' 167,626
' 94,387
• 196,141
r
24, 857
293,842
59, 059
358
531
601
509
503
482
847
651
241
373
227
424
282
272
483
291
454
280
390
278
276
260
279
284
552
395
222
650
664
550
570
550
572
615
241
656
280
630
257
616
247
617
578
393
240
612
537
251
677
217
622
208
596
229
592
241
614
258
619
619
332
283
576
102. 25
102. 70
74.02
102.33
102. 77
74.16
102.62
103.09
73.28
i 102.06
102. 54
73.28
i 101.19
101.65
71.90
i 100.46
100.93
70.51
99. 84
100.35
67.61
i 99. 97
100.54
65.20
i 100.19
100. 74
65.99
100.80
101.35
66.45
i 101.72
102.30
66.93
122.8
1
i 99.62
100.11
1
99. 77
100.27
68.77
122.5
122.3
121.5
120.0
118.8
117.0
117.4
117.5
118.0
118.6
118.7
114.3
122.6
113.0
107.3
63.4
134.4
104.1
115.7
122.8
113.8
110.5
69.6
134.7
103.8
116.1
123.9
113.9
110.4
69.6
134.3
103.9
115.1
121.9
114.1
109.3
68.6
134.4
104.0
114.0
120.8
114.3
106.9
69.4
132.5
103.4
113.3
120.0
114.7
105.1
68.1
129.4
102.1
112.5
119.1
113.9
104.6
(«)
126.2
101.6
112.4
118.9
113.7
104.6
(')
124.5
100.7
112.4
119.3
114.1
103.8
(°)
122.6
100.7
112.1
119.1
113.5
103.7
(*)
123.1
100.8
114.1
119.6
116.4
106.4
(•)
125.7
100.8
115.6
120.4
118.9
107.4
(•)
127.0
101.2
127.8
101.2
67,490
88,531
85, 253
109,385
64,886
81,063
60,326
80,312
121,655
63,949
87,497
145,181
186,213
134, 381
60,126
84,508
67,055
95,180
87,151
132, 534
87,363
119, 745
90,704
123,899
58,248
78,115
76,972
99, 723
56,618
70, 705
51,284
69,316
78,192
112,210
59, 511
81,663
137,971
178, 255
93,971
128,055
56,161
79,154
62, 799
89, 511
81, 942
125, 834
83,047
113, 325
85, 560
117, 483
69, 745
16
69,729
63,511
5,846
85,367
79
2 85,288
74,326
10, 721
108,954
52
108, 902
99, 580
8,975
104,021
60
2103, 760
96,286
7,474
70,077
386
69,691
63. 590
6,101
60,490
96,661
14
1,152
2 95, 509 2 60,476
52, 588
76, 937
5,216
5,101
105,990
73,440
73
219
2 73,367 2105, 771
95,246
63, 949
9,265
7,344
81,823
141,873
39
125
2 81, 784 2141, 748
73, 830 131, 041
6,431
8,581
2
111,380
185
111,195
102, 419
7,013
2
137,058 3 137, 563 3137,628 3137, 666 3 136, 711 3136, 879 3136, 727 3 136, 543 3 136, 531 3134,201
134,932 135,175
135, 281 134, 346 134, 556 134, 347 134,173
135, 210
134,170
131,835
2,126
2,135
2,115
2,073
2,168
2,138
2,116
2,111
2,130
2,120
140,148 s 140, 763 3 141,236 3140, 499 3138, 336 3 137, 509 3 136, 207 3 136, 232 3136,313 3134,167
138, 574 138, 923 139,394
138, 715 136, 568 135, 804 134, 500 134, 537 134,645 132, 544
1,574
1,533
1,521
1,462
1,589
1,585
1,379
1,469
1,427
1,458
2
114,479
51
114, 428
106, 223
7,931
3
2
3
134, 297
131, 931
2,116
3
134, 546
132, 903
1,396
134,300
131, 931
2,119
3
135, 370
133, 714
1,408
3
131,148
129,116
2,115
3
133, 746
132,085
1,415
2.81
2.80
2.80
2.85
2.95
3.02
3.12
3.12
3.12
3.10
3.05
3.02
2.99
2.55
2.64
2.83
3.21
2.55
2.64
2.82
3.18
2.56
2.64
2.81
3.17
2.61
2.69
2.86
3.23
2.70
2.79
2.95
3.35
2.77
2.85
3.01
3.44
2.86
2.94
3.16
3.52
2.86
2.94
3.17
3.52
2.85
2.93
3.17
3.53
2.83
2.90
3.13
3.53
2.78
2.87
3.08
3.47
2.76
2.86
3.06
3.38
2.75
2.85
3.03
3.34
2.60
2.72
3.10
2.62
2.72
3.06
2.63
2.72
3.03
2.67
2.78
3.09
2.76
2.87
3.22
2.84
2.93
3.30
2.92
3.02
3.42
2.91
3.03
3.44
2.90
3.03
3.43
2.89
3.01
3.40
2.85
2.97
3.34
2.82
2.95
3.27
2.80
2.96
3.22
1.81
1.92
2.22
1.81
1.91
2.25
1.83
1.93
2.24
1.84
1.92
2.24
1.97
2.02
2.27
2.09
2.18
2.36
2.35
2.35
2.39
2.40
2.45
2.45
2.48
2.55
2.45
2.42
2.52
2.45
2.34
2.38
2.44
2.23
2.31
2.42
2.77
2.26
2.41
2,310
954.65
2,329
954.65
2,348
954.65
2,358
954.65
2,387
954.65
2,463
954. 65
2,473
954. 65
2,482
954.65
2,482
954.65
2,511
954.65
2,539
954.65
2.42
3.21
2.51
2.59
1.98
2.66
2.44
3.21
2.52
2.59
1.99
2.67
2.46
3.21
2.55
2.59
1.99
2.68
2.47
3.21
2.56
2.59
1.99
2.68
2.50
3.21
2.62
2.59
1.99
2.63
2.58
3.21
2.72
2.59
1.99
2.57
2.59
3.21
2.75
2.59
1.99
2.56
2.60
3.21
2.76
2.59
2.00
2.56
2.60
3.21
2.77
2.59
2.00
2.56
2.63
3.21
2.79
2.59
2.00
2.68
2.66
3.21
2.83
2.59
2.00
2.68
(a)
C)
573.2
427.4
451.4
192.6
176.9
1,139.6
527.8
199.4
595.5
168.9
456.0
725.6
362.4
199.6
197.9
100.2
101.2
726.9
224.9
370.0
196.1
93.8
99.3
653.8
55.7
6.9
11.9
1.9
1.3
99.9
6.6
40.4
6.8
2.4
1.4
75.6
40.6
36.7
29.6
9.3
8.5
67.3
55.9
43.5
42.1
7.6
17.1
40.1
31.7
60.6
92.8
36.7
23.2
98.7
100.5
34.0
62.9
23.6
33.7
58.9
17.0
13.2
11.1
6.1
51.3
23.7
22.4
30.1
4.0
8.2
3.0
38.9
35.5
47.7
43.7
32.9
46.0
50.5
56.0
52.5
35.9
37.2
35.3
43.5
10.9
50.7
51.5
.3
13.1
53.7
10.6
54.3
.3
.3
14.6
.3
19.4
12.0
12.9
5.2
36.4
12.0
18.6
11.2
2.5
23.7
2.2
2.9
r
Revised. tData continue series in the 1942 Supplement. a Discontinued. & No comparable data. i Prices of bonds of the International Bank are included in averages.
2 Includes sales of bonds of International Banks as follows: 1947—July, $13,471,000; August,$2,672,000; September, $2,074,000; October, $1,260,000; November, $1,523,000; December, $2,126,000*
1948—January, $1,763,000; February, $372,000; March, $241,000; April, $274,000; May, $347,000; June, $201,000.
3 Includes bonds of International Bank as follows:—Face value—July 1947 to June 1948, $250,000,000; market value—1947; July, $255,000,000; August, $253,000,000; September, $251,000,000:
October, $248,000,000; November, $244,000,000; December, $238,000,000; 1948; January, $237,000,000; February, $241,000,000; March, $244,000,000; April, $247,000,000; May, $248,000,000; June,
$245,000,000.
§Since March 18,1944, United States Government bonds have not been included.
ISee note in September 1947 Survey for source of data.
*New series. Data for dividend payments for 1941-44 are available on p. 20 of the February 1944 Survey and p. 31 of the February 1947 issue. Revised data for January 1947 will be shown
in a later issue.
fRevised series. For explanation of revision in the series for municipal bonds and data beginning February 1942, see p . S-19 of the April 1943 Survey; earlier data will be published later.
Revised figures through 1943 for prices and yields of U. S. Treasury bonds and a description of the data are on p. 20 of the September 1944 Survey.
662.2
389.5
65.8
39.4
54.3
34.2
50.0
10.5
18.5
SURVEY OF CURRENT BUSINESS
S-20
Unless otherwise stated, statistics through
1941 and descriptive notes may be found
in the 1942 Supplement to the Survey
June
July
August
1947
September
August 1948
1948
October
November
December
January
February
March
April
May
June
FINANCE—Continued
SECURITY MARKETS—Continued
S tocks—Con tinued
Dividends—Continued
Dividend yields:t
Common stocks (200), Moody's
.percent..
Banks (15 stocks)
do
Industrials (125 stocks).„
_
.do
Insurance (10 stocks)...
do
Public utilities (25 stocks)..
do
Railroads (25 stocks)
_
do
Preferred stocks, high-grade (15 stocks), Standard and Poor's Corporation
percent..
Prices:
Average price of all listed shares (N. Y. S. E.)
Dec. 31, 1924= 100..
Dow-Jones & Co. (65 stocks)
dol. per share—
Industrials (30 stocks)
do
Public utilities (15 stocks)
do___.
Railroads (20 stocks)
_do
Standard and Poor's Corporation:
Industrials, utilities, and railroads:
Combined index (402 stocks)...1935-39=100..
Industrials (354 stocks)
do
Capital goods (116 stocks)
do
Consumer's goods (191 stocks)
do
Public utilities (28 stocks)
do....
Railroads (20 stocks)
do
Banks, N. Y. C. (19 stocks)
do....
Fire and marine insurance (18 stocks)
do
Sales (Securities and Exchange Commission):
Total on all registered exchanges:
Market value..
mil. of dol_.
Shares sold
thousands..
On New York Stock Exchange:
Market value
mil. of dol_.
Sharessold
thousands..
Exclusive of odd lot and stopped sales (N. Y.
Times)
thousands..
Shares listed, N.Y.S.E.:
Market value, all listed shares
mil. of dol..
Number of shares listed
millions..
5.2
4.6
5.1
3.5
5.5
6.4
5.0
4.4
4.9
3.6
5.5
5.9
5.2
4.4
5.1
3.7
5.5
6.1
5.3
4.5
5.2
3.7
5.6
6.2
5.2
4.5
5.2
3.6
5.6
6.2
5.5
4.7
5.5
3.6
6.0
6.3
5.4
4.7
5.4
3.5
6.0
5.8
5.6
4.6
5.7
3.5
5.9
5.8
5.9
4.8
6.0
3.6
6.0
6.1
5.6
4.6
5.6
3.4
6.0
5.9
5.5
4.5
5.5
3.3
5.9
5.6
5.3
4.4
5.3
3.1
5.8
5.2
5.1$
4.5
3.76
3.72
3.71
3.72
3.86
4.01
4.07
4.13
4.18
4.12
4.12
4.09
4.04
77.3
80.3
65.32
183. 51
35.61
49.39
78.3
64.36
180.08
35.58
48.73
77.5
63.39
176.82
35.25
48.10
78.7
61.26
173.76
33.98
44.86
63.93
181.92
35.48
49.44
75.8
63.98
181.42
34.10
47.79
76.8
63.66
179.18
33.04
49.46
73.9
' 63.61
176.26
33.06
51.44
70.5
60.91
168.47
31.95
49.19
75.5
61.75
169. 94
32.24
50.64
78.0
66.03
180. 05
33.75
56.03
82.8
69.11
186. 38
35.16
60.32
82.3
70.61
191.05
35.72;
61.37
119.1
124.1
111.9
126.4
100.8
97.6
94.7
117.0
126.0
131.7
118.9
134.6
102.2
108.2
97.3
120.5
' 124.4
130.2
r
117.1
132.4
101.4
105.2
98.0
116.1
123.1
128.4
115.7
130.5
102.0
103.6
97.5
114.0
125.1
131.1
''119.2
132.8
101.0
104.2
96.7
116.4
123.6
130.3
118.9
131.1
97.2
100.1
94.8
117.3
122.4
129.2
117.5
128.4
94.0
103.9
91.0
116.9
120.1
126.0
115.0
125.1
95.1
106.5
93.9
119.6
114.2
119.2
108.9
117.8
92.6
101.9
91.2
117.7
116.4
121.8
' 111.4
118.9
93.0
105.2
92.5
119.5
124.6
130.8
' 119.9
125.6
96.2
115.2
94.2
125.4
130.2
' 136. 9
' 125. 0
131.1
99.2
122.6
97.5
131.1
135.1
142.7
129.8
135.3
100.6
125.6
96.6
132.7
813
35, 588
1,062
45,845
728
29,662
722
31,649
1,230
55,736
812
37,277
1,178
53,160
924
40,123
777
34,336
897
41,447
1,433
63,059
1,717
77,141
1,456
62, 659
677
23,882
900
33, 259
624
21,600
611
21, 556
1,043
40, 620
681
26,326
1,003
38,688
785
28,696
659
24,704
759
29, 774
1, 219
45, 304
1,468
' 57, 504
1,225
46,322
17, 483
25, 473
14,153
16,017
28,635
16,371
27,605
20,218
16,801
22,993
34,613
42,769
30,922
66, 548
1,829
69,365
1,847
68,184
1,862
67, 522
1,870
68,884
1,879
67,026
1,896
68,313
1,907
66,090
1,923
83,158
1,928
67,757
1,933
70, 262
1,938
74, 704
1,962
74, 507
1,977
5.8
5.3
FOREIGN TRADE
INDEXES
Exports of U. S. merchandise:
Quantity}
1923-25=100.
Value}
___do.-Unit value
do...
Imports for consumption:
Quantity.
_
do...
Value
do...
Unit value.
_
._.do_-Agricultural products, quantity:§
Exports, domestic, total:
Unadjusted*....
1924-29=100.
Adjusted}
do_._
Total, excluding cotton:
Unadjusted}.
do.._
Adjusted}
do...
Imports for consumption:
Unadjusted
_..do_._
Adjusted.._
-do...
SHIPPING WEIGHT*
Exports, including reexports
mil. of lb.
General imports
_
...do...
274
351
128
262
337
129
255
337
132
242
315
130
263
346
131
237
315
133
229
312
136
'213
290
'137
289
139
223
304
136
124
147
119
118
139
118
108
127
118
126
148
118
136
158
117
118
141
120
143
176
124
140
175
'125
141
180
128
154
200
130
111
145
127
87
85
104
91
103
173
205
178
220
105
80
184
170
172
143
100
24, 938
10,103
22,745
11,264
27, 418
10, 530
23,692
9,799
'93
183
144
a 54
143
-•147
'133
134
142
139
175
143
162
101
102
96
114
118
123
115
111
107
124
109
23,432
9,978
20, 564
9,258
14, 728
10,101
12,984
11,900
'11,480
11,281
VALUE§
1,141
1,091
1,172
1,185
1,265
1,185
1,303
1,265
1,320
Exports, total, including reexports}
mil. of dol.
943
920
925
1,046
1,095
1,121
1,198
1,195
1,068
1,111
Commercial*
do...
166
197
165
105
90
126
143
153
125
117
Foreign aid and relief*
do...
By geographic regions:
66,150
62,374
65,
751
70,
434
72,184
76,7C2
68,967
57, 831
65, 763
Africa
.thous. of dol. ' 74, 866
190,621
240, 882
227, 822
209,155
195,429
217,647
187, 734
225, 646
253, 317
191, 747
Asia and Oceania}
.do
409, 202
Europe}
do... - 480, 422 470, 952 470, 735 448, 436 446, 833 404, 312 403, 345 400,861
Northern North America._
do... • 191,598 170,456 174, 909 176,795 202, 776 180, 983 151,105 138,356 141, 514 151, 286
Southern North America
do.__ ' 127,000 130,155 126, 057 124, 762 164,096 149,793 161,485 118, 606 113,418 126,105
South America
do... '193,067 187, 557 197,148 176, 736 195,824 179,001 197,889 176,156 174,884 197, 977
Total exports by leading countries:
Europe:
65,096
64, 545
56,841
59, 556
70,859
57, 780
64,467
75,102
57,195
58, 248
France
do__.
71, 841
44, 985
43, 963
91, 537
58, 359
62,015
34,337
44, 858
61,209
Germany}
do... r 54, 479
41, 212
27, 203
38,445
33,199
36,812
35, 711
40,774
51, 758
31, 457
40,165
Italy}
.do...
Union of Soviet Socialist Republics (Russia)
15, 742
3,032
4,051
10, 384
15,423
5,175
8,161
' 7,656
9,158
7,479
thous. of dol.
3,981
62, 704
95, 232
72, 397
58,373
United Kingdom...
do
94,513
95,705
51, 704
' 97,490
89. 789
60,127
43,604
r
Revised, t Revisions prior to Ma\ 1947 for public utilities and railroads and minor revisions for other series will be published later.
}The indexes for exports of agricultural products and the other indicated export series were revised in the May 1948 and the April 1948 issue, respectively, to include Army civilian supply
shipments (see explanation in note marked "§"); revisedfiguresfor January or January and February 1947 are given in notes in the indicated issues.
§The publication of practically all series on foreign trade included in the 1942 Supplement but suspended during the war was resumed in May 1946 Survey. Revised 1941 figures for total
exports of U. S. merchandise and total imports are shown on p. 22 of the June 1944 Survey; revisedfiguresfor 1942-43 for the totals and revisedfiguresfor 1941 and later data through February
1945 for other series will be shown later. Export statistics cover all merchandise shipped from the U. S. customs area, with the exception of shipments to the Armed Forces for their own use,
including commercial trade, lend-lease exports, shipments to U. S. agencies abroad (since June 1945), and relief shipments. Figures published in the March 1948 Survey and earlier issues exclude all shipments to the TJ. S. Armed Forces and therefore exclude goods that reached foreign civilians through them; data for such shipments of civilian goods, with the exception of ship)eginning January 1947 and are included infiguresshown in this issue.
mercial exports represent total exports less lend-lease exports and shipments designated
,
^
_. ._.
,
, _ reek-Turkish Aid, Economic Cooperation Administration, and UNRRA programs and
o
Army civilian supply shipments (see note marked "§")• Commercial exports therefore include private relief shipments as well as commercial trade and shipments to U. S. Government agencies abroad. Small amounts under the lend lease program, which was practically completed in 1947. are included in total exports but not shown separately; separatefiguresare available,
however, in the March 1948 and earlier issues.
SUEVEY OF CUKRENT BUSINESS
August 1948
S-21
1947
Unless otherwise stated, statistics through
1941 and descriptive notes may be found
in the 1942 Supplement to the Survey
June
July
August
September
1948
October
November
December
January
February
March
April
May
168,649
303, 892
38,401
43,023
5,342
20,353
50,130
45,810
48, 719
June
FOREIGN TRADE—Continued
V A LUE§—Continued
Total exports by leading countries—Continued
North and South America:
Canada
thous. of dol.
Latin American Eepublics, total
do
Argentina
do_
Brazil
do_
Chile
-do_
Colombia*
do_
Cuba
_
_
do.
Mexico
_
...do.
Venezuela*
do_
Other regions:
Australia (incl. New Guinea)
-do.
British Malaya
_..do.
China
..
do.
Egypt
do.
India and Pakistan
do.
Japan !
do.
Netherlands Indies
do.
Republic of the Philippines
do.
Union of South Africa
-do_
Exports of U. S. merchandise, total!. _. mil. of dol..
By economic classes:
Crude materials!...
thous. of dol_.
Crude foodstuffs*..
do
Manufactured foodstuffs and beveragesi__do
Semimanufactures}:
do_
Finished manufactures!—
_._
do.
By principal commodities:
Agricultural products, total!
do_
Cotton, unmanufacturedt —
do.
Fruits, vegetables and preparations%..-do
Grains and preparations!
do.
Packing house products!
do.
Nonagricultural products, total!
do.
Automobiles, parts and accessories
do.
Chemicals and related products!
do.
Copper and manufactures
do
Iron and steel and their products
do__
Machinery!
do_.
Agricultural—_
do__
Electrical!
do._
Metal working
do__
Other industrial
do_.
Petroleum and products!
do__
General imports, total..
_
mil. of dol
By geographic regions:
Africa
thous. of dol
Asia and Oceania
do...
Europe
.do...
Northern North America
-.-do...
Southern North America
do
South America
do.
By leading countries:
Europe:
France..
do.
Germany.
.do.
Italy
do.
Union of Soviet Socialist Eepublics
do
United Kingdom
do
North and South America:
Canada
.do
Latin American Republics, total
do
Argentina
do
Brazil
do
Chile
do._._
Colombia*
...do
Cuba
do
Mexico
do
Venezuela*
.do
Other regions:
Australia (incl. New Guinea)
do
British Malaya
do
China
do
Egypt
do
India and Pakistan
.do
Japan
do
Netherlands Indies
.do
Republic of the Philippines
do
Union of South Africa
do
Imports for consumption, total
mil. of dol_.
By economic classes:
Crude materials
thous. of dol_.
Crude foodstuffs
do
Manufactured foodstuffs and beverages._do_._
Semimanufactures
do
Finished manufactures
...do
By principal commodities:
Agricultural, total
do
Coffee
do
Hides and skins
do
Rubber, crude, including guayule
do
Silk, unmanufactured
do
Sugar
do
Wool and mohair, unmanufactured
r
do
170, 520
309,065
74, 428
45, 294
10, 584
14,190
33,249
44,713
31, 364
172,644
288,100
64, 990
40, 258
8,519
12,275
35,073
42, 702
33,872
198, 557
342, 698
59,451
52,822
11, 605
17,934
48,450
52,899
37,055
176,158
313,490
58,026
45, 525
6,818
18,297
51,383
50,672
34,515
146,008
345,225
59,433
56,221
9,873
20, 579
45,933
60,267
40,233
136, 736
280,734
51,065
45,836
8,028
19,099
33, 789
44,017
35,340
139,200
270,615
48, 249
45,684
5,909
20,438
37,017
36,793
38,397
148, 768
306,287
48, 879
63,144
5,662
20,694
39,325
45,655
40, 807
148,416
M l , 570
46,883
35,430
166,048
302,961
53,687
50,127
10,487
17,374
32,740
51,399
34,947
' 20, 678
5,205
r
55, 573
6,473
' 55,713
28,162
9,302
r
29,313
r
36, 437
1,307
26,364
7,790
39, 349
5,284
28,166
45,080
8,103
30,094
34,698
1,253
23, 822
5,619
19,678
5,383
24, 536
56,224
6,236
21,314
5,993
11,947
3,935
31,732
32,755
5,478
41, 535
35,828
1,286
19,869
5,742
15, 694
4,718
26,076
38,660
8,728
40,142
34, 219
1,173
21,373
6,925
18,761
3,514
32,133
46,771
5,856
40,630
32, 754
1,164
14, 203
6,733
17, 949
2,439
29, 354
30, 239
6,967
42.632
38,
273
r
1,082
9,706
7,962
21,891
3,058
18,006
37,888
5,536
43,584
36, 698
1,076
9,201
6,888
23,486
2,862
24,108
6,265
41, 540
36,626
r
1,130
6,446
11,177
31, 364
3,455
32, 762
11,797
36, 789
1,254
19, 752
5,733
12,085
6,397
29,100
33, 763
4,831
35, 905
29, 911
1,175
154,067
r
93, 594
' 169,121
162,282
r
727,797
102,604
103,935
179,408
156,973
710,634
120,736
138,039
139, 553
170,139
685,806
128,471
105,188
138,100
150,667
652, 283
140,387
103,710
148,997
156,092
736,853
122,910
102,196
126,382
145,412
676,453
125,494
118,375
100,350
135,802
683, 446
112, 209
99,125
118,126
130,324
620, 724
108,631
118,742
100,983
120,843
626,489
108,369
96, 744
132,442
129,986
663,026
86,371
89, 745
128, 697
122,428
684,134
125,924
75,431
129,419
' 342,407
50,060
' 19,045
r
164,243
24,285
' 964,454
90,132
73,104
8,673
70,680
' 194,513
' 27,624
48,184
' 15,201
' 94,321
' 59,225
463
320,381
13,165
25,949
174,264
18,901
932,573
89, 485
76, 915
7,453
66,906
201, 331
26,163
49,489
17,909
98,055
63,976
450
308, 596
5,714
22,006
178,628
20,754
945,677
101,078
76, 604
11,210
67. 311
182,820
28,474
43,500
13, 769
290,208
18,227
25, 975
146,109
25,459
884,492
90, 859
67, 286
10,079
66.851
175, 768
26, 234
42, 784
13,333
82,378
53, 232
473
308,969
21, 924
29,233
144,433
19,185
977,070
283,075
24, 525
27,074
135,433
20, 598
888,485
83,163
69, 481
12, 589
72, 224
204,882
27, 556
49,123
15,678
99,539
51,324
455
290,058
37,467
22,381
137, 566
13,703
873,489
86, 321
70, 799
11,487
75,473
215, 553
29,373
47,834
16,615
109,028
52,331
603
281,759
42.633
20,512
147,400
12,383
798, 796
76,497
63,020
11,184
67,058
201,539
281,195
33,620
28,424
141,755
14,429
794,480
72,157
66, 275
10,384
61,026
198,452
28,566
46,159
14,990
96,006
44,164
295,980
45,886
35,063
127,640
21,925
834,587
83,819
72,495
9,188
63,708
214,174
33,003
48,987
15,980
274, 601
31, 282
27, 754
132,877
9,235
p
836,840
90, 012
70,935
13,982
57,881
216, 286
37,824
50,128
14, 437
101, 772
58,845
527
272, 568
40,439
25,297
131, 534
9,873
819,414
74,898
67, 922
11,102
51,347
201,453
33,484
47, 560
11,685
97,426
60,388
549
24,190
'•.100,455
' 69,623
' 96, 640
r
93,890
' 78,188
14,799
95,751
71,730
90, 547
91,853
84, 927
24,402
56, 798
64,126
88,616
43,850
77,879
76, 796
24, 242
88,412
78,847
108,485
71,482
120,051
26,179
92, 762
66, 975
94,319
71,417
103,247
49,734
120,017
78, 771
121,309
93,376
137,341
26, 523
124,149
79,149
105,839
60,230
149,901
45,513
122,002
85,649
101, 552
93,771
133,529
44,454
139,029
98,967
128,911
114,962
139,898
29, 279
111, 795
80, 747
114,511
88, 233
102, 617
35,506
112,308
83,463
120,202
84,892
112,893
3,287
196
' 2,961
' 10,499
19,133
3,411
365
2,074
9,956
18,624
2,807
688
2,188
2,508
17,128
3,408
484
3,040
13, 994
15, 684
3,493
635
4,958
7,835
18, 426
4,515
971
3,997
5,101
15,470
3,053
1,078
6,403
5,027
18, 563
4,863
1,208
6,036
5,547
21, 863
4,642
2,705
5,721
1,953
20,184
6,485
1,734
8,414
7,045
25, 578
4,854
1,358
9,135
6,766
23,873
4,605
1,502
7,210
7,371
20,633
86,762
92,647
• 164,899 168,321
10,691
15,313
r
31,154
16,970
10, 888
11,160
9,917
12,785
53,706
50,848
18, 309
21, 582
13, 289
12, 764
84, 866
158,670
5,817
28, 229
11,602
13,759
45,133
16, 749
14,016
97,317
174,375
7,239
46, 705
9,076
14,694
32,449
29, 226
15,657
105,305
183,448
11,453
46,718
11, 243
23,320
37, 626
19, 292
14, 596
91,802
165, 653
12, 724
39, 553
10,483
17.615
36, 887
15, 732
12,854
117, 295
220,085
17, 212
48,628
14,080
23,761
42, 708
23,832
18,552
101,467
200,286
31,674
42,906
12,675
27,794
12,098
19, 573
18,822
99,895
212,731
17,658
44,165
17,142
18,135
34,681
25,320
19,986
126,734
237,254
19, 723
40,692
17,874
17,442
47,195
27,204
26,880
112,953
176, 888
12, 464
30, 852
15, 697
8,694
33, 763
24, 216
23, 344
116,134
186,486
11, 906
35,984
13,706
14,182
38, 990
17, 533
22, 735
12, 058
23, 662
' 13, 737
3,961
'22,815
1,119
' 999
14,178
5,145
470
7,079
23,951
7,556
1,032
29,157
4,739
739
8,503
5,603
445
5,341
14, 212
3,033
2,637
13,759
2,479
3,106
9,055
7,114
405
5,781
16,407
5,390
13,393
24, 811
1,444
1,365
10,038
15, 703
473
3,674
15, 789
6,634
1,835
21, 568
4,049
3,474
12, 593
12,739
505
9,357
15,804
8,434
106
18, 784
2,524
1,572
15,130
15,003
449
11,533
24,814
14,166
195
21, 270
4,442
2,345
20,641
17,680
562
4,835
32, 504
6,478
1,797
22, 915
2,958
2,717
21,883
9,608
557
11,133
20,304
12,299
2,486
27, 383
4,385
3,255
18,912
11,836
574
24,393
23,004
10, 594
1,980
22, 715
4,643
4,906
23,990
12,983
639
7,281
16, 684
7,775
464
35,507
4,019
3,511
16, 942
9,440
525
5,589
20,237
9,133
215
28,457
3,787
2,942
17,642
12,171
544
159, 413
' 55, 615
60, 257
112, 438
81, 859
133,402
55,129
62, 883
103, 533
112, 946
60, 586
55,678
102, 692
72, 829
142,935
85,483
49,863
103,634
91,088
149, 331
91, 501
58, 237
110, 476
95, 212
134,102
83, 337
51, 820
100, 502
79,271
156,474
125, 748
60,865
131, 576
87,735
197,738
108,032
34, 902
121,347
94, 770
177,453
115,914
55,917
133,772
90,619
195,293
121,983
70,129
140,922
110,164
153,039
84, 758
56,028
121, 298
109, 567
153,214
95,101
63,262
130, 215
101, 761
222, 665
25, 064
6,934
30, 281
6
42, 595
17,762
192, 013
31, 727
8,993
23, 263
3,267
42,811
15,529
168, 439
34,856
4,428
17,113
701
37,386
12, 317
201, 071
57,172
4,367
14, 924
139
26, 632
15,024
227,057
59, 818
6,152
16,190
555
29, 559
16,323
204, 691
49, 349
271,896
69, 729
12,390
25, 739
1,""
272, 553
68,656
20, 793
31,827
143
6,090
39,259
277,348
62,324
12, 592
22,459
276
30,796
30,597
310,208
63,435
10,587
29,639
1,863
39,813
34,803
224,054
39, 531
8,110
16, 405
828
25, 525
24, 612
237,036
52,654
6,961
16,335
982
30,254
20,269
r
187,004
305, 381
' 57, 761
' 49,977
11, 322
17,133
r
r
r
57, 284
400
87, 538
101,121
77,409
103,370
73, 921
11,036
75,662
209, 648
29,358
51,624
15,760
100,014
55, 576
492
18,006
276
28,178
15, 702
Revised.
§See note marked " § " on p. S-20.
*New series. Data beginning March 1945 are in the May 1946 Survey; earlier data will be published later.
{Revised in the April 1948 survey to include Army civilian supply shipments (see note marked "§" on p. S-20).
11,107
42,821
13,352
103,673
47,277
546
104,173
49,441
45,312
46,154
7,028
21, 913
40, 207
47,132
46,493
41,851
49, 593
1,113
8,788
10,760
35,494
2,314
25,005
12,093
7,435
39, 530
40,484
1,092
1,003
121,116
640,029
616
596
SUEVEY OF CURRENT BUSINESS
S-22
Unless otherwise stated, statistics through
1941 and descriptive notes may be found
in the 1942 Supplement to the Survey
August 1948
1947
June
July
August
Septem-
1948
October
November
December
January
February
March
April
May
306, 516
15, 276
49,045
13,499
13, 225
28,907
34,395
30,204
26, 703
26, 551
8,305
1,117
520,165
June
FOREIGN TRADE—Continued
VALUE§—Continued
Imports for consumption—Continued.
By principal commodities:
Nonagricultural, total
thous. of dol_.
Furs and manufactures
do
Nonferrous ores and metals, total
do
Copper, including ore and manufactures:
thous. of doLTin, including ore
do
Paper base stocks
do
Newsprint
do
Petroleum and products
do
246,917
'14,486
44,199
252,608
11,947
40,988
236, 232
5,576
45,133
272, 680
18,756
45,121
277,735
11,566
42,116
243,881
9,408
35, 753
290, 469
12,001
51,618
21,818
1,272
30,180
30,423
18, £43
15,626
7,435
30,773
30, 9F8
20, 475
17,369
9,109
36, 557
27, 747
19, 284
16,847
13,913
25,191
32, 601
19, 708
18,229
7,550
27,055
31,933
20,191
15,110
6,224
25,396
28, 267
21,899
21,091
9,927
27, 354
34,721
28,743
r
r
284, 201
16, 791
38,444
12, 425
9,335
25,305
29,375
29,398
296,326
18,355
47,138
328, 283
11, 996
49,646
19,129
5,692
30,978
27,483
30,371
19,027
7,613
28,873
37, 367
37, 277
300,636
9,600
44,653
15,376
8,452
22,347
32,801
32,341
20,978
21,163
6,199
694
349,934
24, 849
25, 585
7,817
881
431,156
25, 710
24,844
7,446
1,017
473, 950
TRANSPORTATION AND COMMUNICATIONS
TRAN SPORTATION
Airlines
Operations on scheduled air lines:!
Miles flown, revenue....
thous. of miles__
Express and freight carried
thous of lb
Express and freight ton-miles flown, .thousands..
Passencers carried (revenue^
do
Passenger-miles flown (revenue)
do
26,866
15, 722
4,295
1,065
538,377
28, 572
15, 269
4,233
1,100
533,706
28,883
16,973
4,749
1,253
600, 262
27,515
19,949
5,837
1,235
599, 683
28,373
28,414
8,203
1,195
569,885
24,280
23,149
6,690
904
427, 686
. 24,599
28, 223
7,993
853
432, 548
23,624
23, 508
6,850
752
393,637
Express Operations
26,575
24,406
24,398
24, 429
21,877
26, 355
25,318
27, 790
32,075
26,668
25,910
26,183
Operating revenue
thous of dol
131
1
119
75
78
73
47
5
17
47
63
Operating income
do
Local Transit Lines
8. 6591
8. 5816
8. 6093
8. 3073
8.0774
8.4652
8.4043
8.3406
8.1854
8.1134
8. 5234
8.2104
8.1051
F a r e s , average, cash rate
cents..
1,491
1,437
1,478
1,487
1,584
1,464
1,438
1,537
1,429
1,581
1,472
1,451
1,570
Passengers carried!
. _ _ _ _____ millions
120, 200
119, 500
111,100
121, 800
120,100
127,000
115,600
113, 300
121, 200
111,300
111, 400
Operating revenues!
thous. of dol_. 112,100
Class I Steam Railways
Freight carloadings (A. A. R.):(g>
3,524
3,824
3,276
4,404
2,984
3,078
3,164
4,424
3,600
3,808
3,543
2,954
4,560
Total cars
thousands
408
795
992
934
916
714
708
495
730
713
886
758
510
Coal
_
do
r
40
74
58
72
75
60
49
60
54
70
53
60
55
Coke
do.
189
224
173
205
222
191
188
168
248
178
166
181
191
Forest products.
do
153
245
199
225
200
144
275
200
177
210
317
141
216
Grains and grain products _.
do_
42
63
49
55
93
62
49
34
50
74
35
46
91
Livestock
_ ____ __
do
447
432
588
464
408
499
544
434
577
429
467
461
491
Merchandise, 1 c. 1
do
204
332
238
324
63
395
66
299
56
407
343
274
64
Ore
_
___
do
1,499
1,510
1,913
1,454
1,509
1,787
1,495
2,030
1,592
1,728
1,992
1,555
1,461
Miscellaneous
do
Freight carloadings (Federal Reserve indexes):
128
142
144
133
139
150
129
153
148
140
143
156
122
Combined index, unadjusted
1935-39= 100_.
105
15a
160
115
141
155
153
163
150
146
156
Coal
do
155
98
134
192
201
195
165
170
183
188
178
177
163
188
Coke
do
isa
141
156
137
141
147
151
135
153
145
161
160
146
155
Forest products
do
108
142
130
153
101
113
147
100
132
175
202
143
152
Grains and grain products
do
94
92
133
139
61
161
62
Livestock
_
do
86
74
81
87
87
87
66
70
69
65
71
77
77
71
73
69
73
73
78
Merchandise, 1. c. 1
_
do
212
163
296
45
60
272
284
311
286
49
277
235
57
Ore
do
143
144
139
158
146
144
147
157
145
137
150
142
163
Miscellaneous
___
do
130
139
149
142
147
134
137
141
139
145
143
146
130
Combined index, adjusted!
do
105
153
141
153
160
163
155
155
146
115
150
156
Coal!
do
98
185
187
137
191
195
184
173
178
183
180
162
170
192
Coke!
do
139
150
141
153
158
149
150
152
152
145
140
146
147
Forest products
do
144
123
132
145
162
140
129
138
137
103
109
168
152
Grains and grain products!
_
do
96
92
105
76
79
84
96
105
105
92
107
107
104
Livestock!
_
do
69
66
70
68
74
73
75
71
74
71
72
73
75
Merchandise, 1. c. 1
do
191
213
192
163
184
194
213
195
195
180
181
190
163
Ore!..
do
145
143
140
152
145
151
156
149
142
146
150
149
143
Miscellaneous! _ _
do
Freight-car surplus and shortage, daily average:
104,170
1,322
2,505
12,013
5.886
2,391
11,333
30,651
14,515
15, 63a
6, 657
35,244
942
Car surplus!
number
75
712
238
175
613
132
5,824
9,938
1,817
2,585
3,459
3,600
5,904
Box cars
______
do
109
14
184
983
0
10
172
127
0
27,938
95,106
25,874
Coal cars
do
1,390
2,656
15,350
13,030
7,783
2,330
12,146
8,747
34, 443
40,103
27,865
31,766
15,697
14, 969
Car shortage*.
___
do
227
2,002
4,922
2,974
1,079
5,643
2,888
17.165
20,819
16, 631
16,336
9,592
Box cars
______
_
do
5,127
2,320
12,715
7,588
4,380
1,097
6,072
5,471
15,165
15,275
10, 277
14,566
5,331
Coal cars
do
9,357
Financial operations (unadjusted):
r
728,969
755,324
807,428
715,891
726, 550
705,361 745,258
796,403
838,106
776,616
750, 735
794,165
Operating revenues, total
_ thous. of dol r 697,822
666,984
690,838
589,894
642,346
601,376
627,816
613,361
593,089
664,648
625, 241
596, 592
557, 881
557,128
Freight
do
r
71,
786
84, 251
72,065
74,398
69,490
89,461
80,897
80,369
75,009
73,
661
94,001
93,642
84,
788
Passenger
.
do
T
616,231
626,080
586, 356
618,759
585,625
631,150
615,856
588,591 611, 872
595, 315
565,606
555,362
550, 353
Operating expenses
__
do
Tax accruals, joint facility and equipment rents r
90, 239
93, 582
89,979
94, 432
96, 255
89,041
90,110
97,132
89,993
98,827
87,047
105,860
thous. of dol._ r 86, 220
53,104
39, 425
60,724
41, 297
47, 979
80,023
124, 979
60,958
61, 249
76, 433
80,825
90,178
Net railway operating income _
do
65, 577
63,715
17,798
35.447
26, 916
60, 212
18, 707
20,147
48,904
43,358
51,343
37,025
38,402
Net incomet
do
Financial operations, adjusted:!
716.3
781.1
760.8
766.6
739.1
786.0
805.7
726.1
719.4
794.7
682.7
731.0
Operating revenues, total.._
mil. of dol_.
623.3
624.1
583.4
653.4
636.9
593.4
593.6
543.5
644.2
581.2
611.7
Freight
do
665.0
72.8
77.4
75.5
72.1
87.8
84.7
80.7
76.7
77.0
83.8
85.9
Passenger
_.
do
81.9
710.5
705.4
684.4
722.5
707.0
680.5
696.3
707.6
655.4
634.5
649.2
701.0
Railway expenses
_
do
78.4
83.2
48.2
70.6
55.4
59.6
41.7
35.8
64.0
81.8
42.8
93.7
Net railway operating income..
do
r
46.9
48.9
'38.3
22.2
31.0
8.8
27.8
9.4
17.6
49.8
3.5
60.8
Net income
_
do
Operating results:
r
59, 406
54,664
53, 579
57, 332
64, 692
59,656
61, 650
56,654
49,902
55,125
52,466
58,231
Freight carried 1 mile
mil. of tons
60,250
1.114
1.029
1.300
1.284
1.197
1.057
1.043
1.176
1.159
1.089
1.094
Revenue per ton-mile
_ _ _ _ _ _ _ _ _ cents.
1.183
3,151
3,198
3,271
3,043
3,654
3,948
3,855
3,450
3,342
4,481
4,413
4,096
Passengers carried 1 m i l e . . .
.millions..
r
Revised. d Deficit. <8> Data for August, and November 1947 and January and May 1948 are for 5 weeks; other months, 4 weeks.
§ Data continue series published in the 1942 Supplement; data for December 1941-February 1945 will be pulished later. % Revised data for May 1947, $49,431,000.
* New series. For comparable data beginning 1943 for total car shortage and surplus and an explanation of a change in the latter series, see p . S-21 of December 1944 Survey.
t Revised series. See note in the July 1947 Survey for explanation of revisions in the data for air lines; revised data prior to May 1946 will be published later. Data for local transit lines
revenues beginning in the April 1944 Survey and passengers carried beginning in the May 1945 issue are estimated totals for all transit lines; revised data beginning 1936 will be published later.
See note marked "*" regarding car surpluses. Revisions for 1939-July 1942 for the indicated indexes of carloadings and revisions for January 1937-February 1943 for the adjusted series for
financial operations are available on request.
SURVEY OF CURRENT BUSINESS
August 1948
Unless otherwise stated, statistics through
1941 and descriptive notes may be found
in the 1942 Supplement to the Survey
S-23
1947
July
June
August
September
1948
October
November
December
January
February
March
April
May
June
TRANSPORTATION AND COMMUNICATIONS—Continued
TR AN SPORTATION—Con tinued
Waterway Traffic
Clearances, vessels in foreign trade: §
Total, U. S. ports
thous. net tons.
Foreign
do—
United States
.do...
Travel
Hotels:
Average sale per occupied room
dollars.
Rooms occupied
percent of totalRestaurant sales index, avg. same mo. 1929=100.
Foreign travel:
U. S. citizens, arrivals
...number.
U. S. citizens, departures
do...
Emigrants
do...
Immigrants
do___
Passports issued
do...
National parks, visitors
thousands
Pullman Co.:
Revenue passenger-miles
millions.
Passenger revenues
thous. of dol.
8,725
3,980
4,746
8,953
3,945
5,008
9,991
4,697
5,294
9,196
4,272
4,924
9,153
4,451
4,703
7,905
3,633
4,273
6,535
2,820
3,715
6,400
2,774
3,625
6,446
2,815
3,631
7,002
2,998
4,005
6,826
3,106
3,720
8,167
4,063
4,099
4.75
93
248
4.70
87
225
5.16
93
246
5.07
92
238
5.14
93
226
5.28
87
234
4.91
78
202
5.06
86
227
5.03
88
211
4.81
89
206
5.35
89
245
4.91
89
246
39, 987
45,320
1,804
14, 733
21,831
902
48,147
48,137
56, 855
39, 577
60,324
34,112
46, 492
32,168
36,074
25,099
37,411
31,743
38,380
36,317
46, 695
42, 469
47, 587
44, 295
41,823
40, 260
37, 517
15, 644
19,611
1,467
13,433
15, 277
1,502
13,853
12,182
652
14, 880
13,402
308
15,618
10,456
131
14, 879
11, 786
14,833
102
17,915
120
26,883
139
25,110
173
27, 304
792
1,215
9,193
1,139
8,558
1,166
8,712
1,104
8,374
1,028
8,924
1,000
8,737
1,020
9,762
1,202
10, 610
1,048
9,328
1,045
9.364
975
8,676
935
8,254
205,193
113,371
75, 477
165, 551
17, 914
30, 292
209,134
114, 567
77,993
175, 553
13, 239
30, 553
210,070
114. 836
78^ 063
172,006
16, 305
30, 794
213,422
118,134
77,929
175,079
16,890
31,058
222,090
121,969
82, 528
179, 941
19, 202
31, 421
217, 513
121,596
78,132
172, 927
20,818
31, 721
230,620
127,132
85.189
184, 807
22, 010
32,094
229, 797
129,809
81,821
182,116
21,611
32,385
225, 584
128,440
78, 490
174, 364
23, 956
32,628
237,939
132,124
87,003
187, 252
23,800
32,934
235,094
132, 437
83, 653
183,836
24,130
33,186
238, 347
133, 426
85, 348
185, 762
25, 250
33,499
18, 981
17,662
18, 449
17,019
18,122
16,786
18,366
17,029
18, 725
17,366
16, 580
15, 266
16,965
15, 813
15, 713
14, 691
17,940
16, 717
17,102
15,664
17,495
16,167
574
1,320
15,347
1,541
1,335
1,617
599
1,430
16,010
291
41
1,609
1,336
15,366
682
332
1,742
659
1,337
15,376
928
700
1,759
703
1,359
15, 500
1,117
627
1,889
616
1,315
15,146
*686
18, 734
17.190
762
1,544
15, 585
1,216
d
7,426
2,008
607
1,022
13, 827
*205
<* 586
1,760
663
1,222
15,103
799
3,545
1,817
650
1,438
15,079
685
1,327
15,437
*48
5.27
89
248
30, 372
COMMUNICATIONS
Telephone carriers: 1
Operating revenues
thous. of dol.
Station revenues
do—
Tolls, message
do—
Operating expenses
do—
Net operating income
do—
Phones in service, end of month
thousands.
Telegraph and cable carriers :J
Operating revenues, total
thous. of dol..
Telegraph carriers, total
do__.
Western Union Telegraph Co., revenues from
cable operations
thou?. of dol.
Cable carriers
do—
Operating expenses
do—
Net operating revenues
do—
Net income trans, to earned surplus
do—
Radiotelegraph carriers, operating re venues ..do. __.
1,695
622
1,151
15, 097
d
252
*575
1,854
r
r
1,807
CHEMICALS AND ALLIED PRODUCTS
CHEMICALS
Inorganic chemicals, production:*
Ammonia, synthetic anhydrous (commercial) c?
91,681
96, 768
93,461
short tons..
88,120
95, 826
92,185
97,773
95,405
82,408
90,550 100,142
92,640
81,364
10,645
5,064
Calcium arsenate (commercial)
thous. of lb._
3,107
2,272
2,190
2,709
2,003
2,433
3,379
••3,399
3,910
5,488
53,388
50,827
Calcium carbide (100% CaC2)
..short tons__
48, 336
47,177
55,343
48,136
58,091
48, 462
55,006
61,489
57,649
59,009
54, 585
Carbon dioxide, liquid, gas and solid c?
110,22S
96,700
107, 712
102,410
thous. oflb__
61, 368
57, 996
80,016
57,125
59,304
83, 260
70, 590
96, 217
103,850
121,336
124,178
125,992
Chlorine
._.
short tons.. 124,067
127,245 124,634 128, 797 123, 319 116,143 132,668 126,992 130,926
133, 231
33,196
33, 654
33,541
34, 733
Hydrochloric acid (100% HC1)
do...
36,461
39,089
38,349
36,306
37,609
33,940
36, 579
34,930
38,149
1,436
447
Lead arsenate
.thous. of 1b.
3,229
3,814
3,697
3,654
0)
3,127
2,097
0)
0)
0)
0)
97,149
95, 921
95,154
Nitric acid (100% HNO8)cT
short tons.
99,318 101, 558 104,096 103,834 100, 546 101,041
94,904 ' 86, 487
81,888
94,564
1,105
1,089
1,066
Oxygen
mil. cu. ft.
1,314
1,271
1,362
1, 258
1,361
1,370
1,288
1,212
1,251
1,093
89,492
86,920
Phosphoric acid (50% HgPOO
..short tons..
95,331
97,510 ' 98, 565
105,097
99, 213
90,601
95, 589
89, 353
90,412
87, 249
Soda ash, ammonia-soda process (98-100% Na2
374,083
377, 976
363,890
359,004
COs)
short tons.
395, 609 379,821
383, 481 360,437 404, 525 357, 752 360,110 347,656
Sodium bichromate and chromate
do
7,983
7,527
7,426
7,331
7,219
7,971
7,350
7,962
7,916
8,413
7,664
7,106
8,184
Sodium hydroxide (100% NaOH)
do...
181,298 182, 806
181,200
181, 793
181, 720
177,012
Sodium silicate, soluble silicate glass (anhy190, 576
186, 265
186,254
182, 778 173,693
186,300
drous) c?
short tons..
40,061
45,233
54, 702
32,814
37,126
35,472
36,329
Sodium sulfate, Glauber's salt and crude salt
39,093
33,588
43,724
37,529
44,090
38,773
cake
short tons.
73,846
71, 245
69,432
64,996
65,942
65,414
Sulphuric acid (100% H2SO4):
65,602
73,510
70,293
64,182
70,456
70, 928
Price, wholesale, 66°, tanks, at works§
16.50
16.50
16. 50
16.13
16.50
dol. per short ton_.
15.00
16.50
16.50
15.00
15.00
15.00
15.00
15.00
864,092
856, 783
Production..
short tons.. 856,129
851,598
843,322
897,297 884,365 967,235 932, 933 893,440 956,957 904, 562 931,788
Organic chemicals:
Acetic acid (syn. and natural), production*
35,897
35,365
31,729
thous. of lb-_
28,606
30, 439
34,189
31,163
32, 624
29,560
34,605
33,244
39,091
53,627
53,478
41,433
50,308
Acetic anhydride, production*
do
55,071
55,347
57,507
62, 700
58,184
64,849
63,937
60,103
1,126
1,155
Acetyl salicylic acid (aspirin), production*.do
1,083
979
1,092
1,016
615
1,054
985
1,061
559
Alcohol, denatured:§
13,687
15,061
16,426
Consumption (withdrawals).thous. of wine gaL.
18,718
16,937
12,436
21,820
19,026
14, 207
11,250
13,053
13,208
13,154
14,605
14,150
16,469
Production
do
18,610
17, 710
12, 576
21, 744
18,620
11,051
12,964
13,016
13,312
12,974
1,529
1,981
1,560
1,719
Stocks
...do
1,447
1,354
1,850
1,245
1,653
1,712
1,613
1,073
Alcohol, ethyl :§
23,793
26,833
29,226
26,621
Production._.
thous. of proof gal._
29,906
39,012
17,402
28,472
20,951
29,266
29,852
27,413
27,668
27,764
28,637
Stocks, total
__.do
27,016
24,409
26,634
22, 787
22,373
23,886
21, 248
29, 799
34,874
31,601
38,273
25,699
In industrial alcohol bonded warehouses.-do
25,323
26,928
22,894
25,938
22,170
21, 783
22,654
20,738
29,404
34,353
31,032
37, 699
2,065
In denaturing plants
_
do
1,709
1,514
697
1,694
618
591
510
1,232
395
521
569
574
27,359
Withdrawn for denaturing
do
30,303
34,101
38, 526
33, 981
32, 839
26,065
23,103
21,151
23,213
24,899
25,806
23,446
4,275
Withdrawn tax-paid
__-do
2,768
4,630
4,090
2,696
3,201
2,377
3,237
2,680
2,678
2,846
4,073
2,933
13,909
11,581
12,573
14, 263
11,988
13, 407
Creosote oil, production*—_
...thous. of gal_.
12,179
12,779
12,835
11, 925
12,884
11,590
2,403
2,056
2,094
2,329
Cresylic acid, refined, production*..thous. of lb._
2,287
2,357
1,697
1,909
1,969
1,871
2,715
1,617
7,181
7,132
8,651
5,822
5,850
Ethyl acetate (85%) production*
do
5,899
6,785
5,261
5,422
6,826
5,788
5,712
r
Revised.
<* Deficit.
IData relate to continental United States.
1 Not available for publication.
^Compiled on a new basis beginning 1943; see April 1944 Survey for 1943 data and reference to revised 1942 data. Total operating revenues of telegraph carriers includes and operating revenue
of cable carriers excludes cable operations of Western Union; the latter data were revised in May 1947 Survey (see note in that issue).
cfData for carbon dioxide and soaium silicate were revised in the March and the September 1945 Survey, respectively (see notes in those issues) See note in February 1947 Survey with re-,
gard to additional plants included in the data for nitric acid and ammonia.
§The indicated series, except series for alcohol stocks in denaturing plants (available only beginning 1942), continue data in the 1942 Supplement; unpublished data beginning 1941 or 1942
through February 1945 for ethyl alcohol and vessel clearances and for June 1944-July 1946 for prices of sulfuric acid will be shown later.
•New series. See note marked " • " on p. S-23 of the September 1947 Survey for reference to data prior to 1943 for a number of the chemical series and information regarding revisions that
have not been published.
SUEVEY OF CUEEENT BUSINESS
S-24
August 1948
1948
1947
Unless otherwise stated, statistics through
1941 and descriptive notes may be found
in the 1942 Supplement to the Survey
June
July
August
September
October
November
December
January
February
March
April
May
June
CHEMICALS AND ALLIED PRODUCTS—Continued
CHEMICA L S—Continued
Organic chemicals—Continued.
Glycerin, refined (100% basis):*
High gravity and yellow distilled:
Consumption
thous. of lb_.
Production
do
Stocks
do___.
Chemically pure:
Consumption
do
Production
do
Stocks
do
Metb an ol, production: d"
Crude (80%)
thous. of gal..
Synthetic (100%)
do.,_.
Phthalic anhydride, production*
thous. of lb_.
6,617
6,965
19,843
6,509
5,483
18,848
6,761
7,250
18,869
7,032
8,812
19,146
8,146
8,292
17,665
7,633
7,560
16,061
7,468
8,753
17,335
7,426
8,701
17,396
7,098
7,947
17,974
7,272
7,699
18,197
7,456
6,715
16, 744
7,379
6,383
15, 221
7, 896
8, 772
18, 027
5,871
7,980
20,723
5,650
6,200
20,171
6,358
7,998
20, 396
6,754
7,957
19,493
7,770
9,357
18,289
7,067
8,782
17, 709
7,463
9,202
17,278
8,049
10, 437
18,306
7,376
10,294
19,013
7,845
11,350
21,866
7,116
8,293
21,923
6,776
7,704
21,384
6* 730
9, 050
22,355
221
6,551
11,764
236
6,779
12,871
246
6,708
12,396
243
6,564
11,800
283
7,065
12, 529
6,832
12,373
321
7,199
12,893
274
8,806
12,433
248
9,161
12,048
2-55
10, 944
14,082
265
10, 489
13,072
254
13, 792
13,632
251
332
72
260
264,774
56, 507
191, 539
2,718
117,760
107, 484
80,786
4,482
0
385
176
209
272,871
73,674
186,987
1,661
82,474
75,912
41,623
38
2,232
409
130
278
284,741
56,924
215, 726
874
93,649
85,337
41,737
4,330
0
492
130
362
239,807
65, 241
162,341
1,659
76, 591
67,166
16,959
3,777
0
495
81
415
204,081
81,799
114,082
617
92,214
73,015
30,623
12,617
0
657
182
476
186, 295
86, 578
87,772
447
76,836
61, 056
25, 287
3,204
6,838
829
181
648
243,340
54, 664
168, 974
1,695
91,159
69, 725
22, 316
4,497
8,173
1,454
257
1,196
186, 758
79,399
91, 288
8.926
102, 966
92, 765
60, 787
284
2, 213
1,149
168
981
136,475
12,774
103,754
10,303
141,630
120,766
88,834
9,329
4,667
1,478
188
1,291
284, 548
151,301
114, 529
1,599
131, 989
113, 216
70,325
389
7,355
1,114
202
912
247,182
61, 097
176,937
1,484
r
129, 608
r
104,353
r 68, 064
'269
r
11,483
657
118
539
153, 554
28,182
118, 820
1,436
146, 215
117, 677
3S4
99
285
2.075
83,121
2.075
73,708
2.195
2.275
75, 764
2.275
77,680
2.275
97,333
2.306
112,214
2.400
97,029
2.400
91, 574
2.400
99,728
2.400
2.400
804,855
855,352
808,917
903,380
804, 355
866,919
822, 448
852,303
893, 613
863, 407
881, 041 973, 554 926, 323 883, 852 1,033,294
950, 556 1,039,952 1,105,813 1,081,544
994,464
974,420
965,480
FERTILIZERS
Consumption, total*
thous. of short tons..
Midwest States*
do._Southern States©
do
Exports, total!
long tons..
Nitrogenous!
do
Phosphate materials!
do
Prepared fertilizers!
do
Imports, total§
do
Nitrogenous, total!
do—
Nitrate of soda!
do
Phosphates!
...do
Potash!
do
Price, wholesale, nitrate of soda, crude, f. o. b. cars,
port warehouses©
dol. per 100 lb_.
Potash deliveries
short tons..
Superphosphate (bulk):f
Production
do—
Stocks, end of month.._
do
7,673
5,948
2.400
978, 433
825, 549
1,116,197 1,293, 801
NAVAL STORES
Rosin (gum and wood):
Price, gum, wholesale " H " (Sav.), bulk
8.87
7.10
6.80
8.91
8.46
6.76
7.58
6.83
7.52
7.19
7.00
8.55
dol. per 100 lb_.
508, 543
572, 233
382, 720
Production*
drums (520 lb.)_. 527, 335
339, 269
284,840
277,980
243,086
Stocks*
do
Turpentine (gum and wood):
.62
.64
.63
.58
.64
.62
.59
.59
.62
.61
.42
.63
.64
Price, gum, wholesale (Savannah)t--dol. per gal_159, 665
189, 689
115, 460
Production*
...bbl. (50 gal.).. 176,089
194, 111
210,116
195,350
147, 693
Stocks*
do.
MISCELLANEOUS
59,434
55,787
52,365
51,940
53,275
61,361
51,048
47,134
48,848
49,019
49,145
47,717
Explosives (industrial), shipments
thous. of lb__
Gelatin:!
3,116
4,415
3,393
4,504
4,290
4,017
3,159
4,659
4,639
3,847
4, 584:
4,336
4,009
Production, total*
do...
2,420
3,104
3,077
2,762
3,277
2,313
3,425
' 3,103
3,222
2,901
3,034
3,437
Edible!
do.__
2,883
5,961
5,431
6,427
6,042
5,739
6,338
6,558
7,268
6,387
6,374
7,000
7,462
Stocks, total*
do...
2,400
2,356
3,300
2,430
2,714
2,453
3,144
3,713
3,034
3,464
2,787
4,060
3,392
Edible!
do...
Sulfur:*
382,674 391,396 406,964 425,612 405, 205 389,014 391, 214
359,313
409, 530
402,832
392, 991
409, 610
Production
long tons.
Stocks
. . . d o . . . 3,456,082 3,438,367 3,444,607 ,449,732 3,457,899 3, 435, 298 3,371,034 3,373,422 3, 348,462 3, 368,064 3. 338,345 3, 297, 705 3,303,984:
Glue, animal:*
14,666
12,003
11,424
13,185
13, 636
12,843
12,158
13,131
11, 503
14,229
Production
thous. of lb_.
11,795
12,165
11,771
r
7,882
8,392
12,444
7,749
9,509
8,757
12,960
8,950
10,605
Stocks
do_
10, 957
12,062
14,823
10,828
Bone black:*
1,085
1,102
1,085
1,065
1,048
1,010
1,033
1,040
520
1,017
519
Production—
.short tons..
607
1,079
1,254
1,375
1,180
1,021
1,008
],030
1,696
2,004
1,474
1,650
Stocks
-do.
1,526
1,877
OIL SEEDS, OILS, FATS AND
BYPRODUCTS
Animal, including fish oil:
Animal fatst
134,391 126,345 135, 260 118, 795 116, 571
127, 228 134, 765 155,630
99,329
Consumption, factory...
thous. of lb_. 105,301
116,137
107, 826
122,370
279, 792 307, 560 302, 208 258,924
255,713
238,814 208, 609 189, 544 226,266
222, 845
Production
do_-_
222, 070 • 238, 278
266, 633
250, 588 258,425 322,045 350,058 369,460 369, 989 396, 045 • 414, 980 431, 815
428, 604 444,602 400,170 320,801
Stocks, end of month
do.-_
Greases:}
49, 913
43, 658
50, 604
55,182
54,207
37,746
41, 226
55,351
Consumption, factory
_
do___
53,195
56, 212
51, 525
46, 433
51,931
40,154
44,434
50, 039
50, 586
47,402
46,611
52,331
48,260
Production
do
46, 815
45,153
47,147
45, 543
51, 411
98,924
96, 111 103,692 119, 272 122, 608 129, 645
97, 555
98,827 101, 964 106, 382
Stocks, end of month
_do_._
124, 582
126, 831
129,997
Fish oils:*
20,148
12,150
22,929
11,475
22,944
25, 287
16,478
Consumption, factory
_do__.
20,178
19,095
15,721
' 16,993
17,201
22,706
19,889
21,739
21,109
6,852
10. 927
4,356
Production
do.._
1,024
697
766
4,296
1,000
13,346
r
108,815
59,041
65,152
86,445
91, 459
85,286
Stocks, end of month
__.do___
61, 021
69,069
60, 879
55,000
66, 794
85,
778
Vegetable oils, total:
294
297
329
294
432
437
Consumption, crude, factory %
—mil. of lb_
469
458
410
425
'351
385
354
14, 540
16,148
23,434
19,525
Exports!
___
_
thous. of lt»_
27,885
37, 302
35, 737
14,198
21,199
25,855
16,319
25, 554
26,669
19,106
10,744
5,462
23, 661
Imports, total!
do_._
32,474
34, 628
40, 402
32, 646
52,306
29, 596
30, 256
3,921
2,801
2,121
13, 208
17,008
Paint oils!
do
11,651
21, 847
10, 270
10, 531
37,754
15,185
2,661
8,461
10,453
8,623
15,465
All other vegetable oils§
___do
22, 977
18, 555
22, 376
19, 065
14, 553
20, 991
278
248
330
Production!
...mil. of lb.
481
468
441
513
352
283
'331
316
Stocks, end of month:t
573
489
458
Crude
_do__.
485
471
502
539
598
592
555
526
464
385
292
359
243
211
Refined
__-do__.
241
264
305
292
••252
226
207
247
' Revised, cf See note in the April 1946 Survey with regard to difference between these series and similar data published in the 1942 Supplement to the Survey
0 Excludes data for Mississippi, which has discontinued monthly reports, beginning in the October 1946 Survey.
§ The indicated series continue data published in the 1942 Supplement; unpublished data beginning 1941 or 1942 through February 1945, and also corrected data for 1937-July 1945 for nitrogenous and total fertilizer imports, will be published later. Fertilizer and vegetable oil exports for 1947 have been revised to include Army civilian supply shipments (see note marked "("
s
on p. S-20).
O For a brief description of this series see note in April 1946 Survey. % See note marked "t" on p. S-25 regarding unpublished revisions
* New series. For source and description of data for glycerin see p. S-23 of November 1944 Survey
and
:
*
'
'
'
"
"
y
for turpentine and rosin, p. S-24 of the May 1946 issue.
t Revised series. See note in the November 1943 Survey explaining a change in the superphosphate data and note in September 1947 Survey regarding a company included bednning
January 1946. See note on S-23 of the November 1943 Survey regarding change in the turpentine price series.
ueguuims
SURVEY OF CURRENT BUSINESS
August 1948
S-25
1948
1947
Unless otherwise stated, statistics through
194-1 and descriptive notes may be found
in the 1942 Supplement to the Survey
July
June
August
September
October
November
December
January
February
March
April
May
June
35,102
27, 644
22, 659
31, 797
54,088
23, 575
6,428
57, 539
26, 332
CHEMICALS AND ALLIED PRODUCTS—Continued
OIL SEEDS, OILS, FATS, AND
BYPRODUCTS—Continued
Copra:
Consumption, factory §
short tons..
Imports§
do
Stocks, end of month§
do
Coconut or copra oil:
Consumption, factory:}
Crude
thous. of lb__
Refined
do_._.
Imports §
.--do—
Production:?
Crude
__do___.
Refined
_
-do
Stocks, end of month:];
Crude
do.._.
Refined
_
_do.._.
Cottonseed:
Consumption (crush)
thous. of short tons..
Receipts at mills
do—
Stocks at mills, end of month
do
Cottonseed cake and meal:
Production
short tons..
Stocks at mills, end of month
do—
Cottonseed oil, crude:
Production
thous. of lb_.
Stocks, end of month
.do—
Cottonseed oil, refined:
Consumption, factory}
do—
In oleomargarine
do—
Price, wholesale, summer, yellow, prime (N. Y.)
dol. per lb_.
Production
thous. of lb_.
Stocks, end of month
do—
Flaxseed:
Imports5___thous. of bu_.
Duluth:
Receipts
do
Shipments
do
Stocks
_
do
Minneapolis:
Receipts
_
-do
Shipments
do
Stocks___
do
Oil mills:!
Consumption
do
Stocks, end of month
do
Price, wholesale, No. 1 (Minneapolis) dol. per bu_.
Production (crop estimate)
thous. of bu_.
Linseed cake and meal:
Shipments from Minneapolis
thous. of lb__
Linseed oil:
Consumption, factory}
do
Price, wholesale (N. Y.)
dol. per Reproduction t
thous. of lb__
Shipments from Minneapolis
do
Stock? at factory, end of month}
do
Soybeans:
Consumption, factory }
thous. of bu_.
Production (crop estimate)
do
Stocks, end of month}
do
Soybean oil:
Consumption, factory, refined}
thous. of lb_.
Price, wholesale, edible (N. Y.)cf---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. per lb_.
Production}
thous. of lb._
Shortenings and compounds:}
Production
do
Stocks, end of month
do
52,368
51,346
44,320
45,330
18,644
42,300
40,731
31, 340
26,861
41,828
48, 297
23,871
47,148
53,485
22,984
48,821
67,222
25, 945
60, 511
85,829
41, 611
61,796
56,167
37, 259
53,135
55, 546
35, 392
50,194
51, 513
36, 471
40,136
34,349
28, 825
61, 636
27,664
3,225
69,608
32,977
72,257
30,174
79,656
29,828
0
72, 862
26,618
956
76,857
28,317
5,080
85, 370
29,315
11, 593
68, 333
24, 666
3,848
69, 523
23, 342
54, 484
22, 985
7,694
66,074
28,611
62,008
23. 784
1, 767
57, 902
30,466
51,902
34,228
53, 609
33,498
62, 287
35,088
77,238
33,225
81, 371
37, 233
67, 737
28,361
64, 280
31, 502
51,137
27, 771
45, 362
26, 935
40, 456
29, 812:
134, 949
12,998
127,927
14,412
105,978
10,737
11,194
61,103
35,388
69, 578
10,998
59,669
9,213
69, 672
11,834
75, 584
12,616
86, 546
10,500
96, 226
11, 837
98, 773
12,120
101, 254
14, 214
85, 804
12, 274
14
108
74
65
100
102
167
163
345
776
594
647
1,509
1,458
596
654
1,515
565
476
1,426
522
212
1,116
412
74
778
326
51
503
205
24
322
147
14
188
115
22
30,477
87, 958
23,341
19, 990
33,980
46,941
47,068
26,416
156,076
37,844
301,370
62,121
276, 451
71, 590
261,942
74,035
241, 668
71, 207
191,325
85,139
154,388
86,060
95, 374
92,080
67,944
100,037
54,105
94, 516
24, 212
15,191
31,109
19,209
104,348
57,307
197,834
95,356
181, 915
112, 684
174,444
109,368
163, 998
121, 742
130,270
117,424
105,162
87, 096
67,539
58, 472
47, 743
43,054
38, 023
32, 616
44,687
16, 407
56,312
19,906
74,243
20,115
74, 751
27,891
119,107
41, 554
129,166
44,146
122,265
42,368
126,686
46, 718
106,611
42,779
105, 985
38, 728
96, 604
36,180
91,090
40,195
68,170
.241
35, 517
204,100
.234
26, 410
171,094
.179
24, 913
116,709
.224
56,852
92,081
.237
144,981
107,882
.276
157,874
133,196
.289
159,637
152,916
.299
140,848
152,706
.246
124,877
158,523
.261
123, 628
182, 206
.305
90,821
168, 750
.371
60,035
126,912
.356
47,952
111, 689
77
106
17
0
0
7
2
72
12
0
20
1,435
436
1,019
2,733
1,053
2,699
911
1,147
2,463
48
1,764
747
165
183
728
0
794
50
1
843
53
189
707
45
69
683
80
459
304
128
202
516
99
82
296
2,125
270
453
8,425
1,142
5,004
4,928
530
6,434
1,904
274
6,305
1,360
168
5,833
1,224
257
5,114
723
318
4,263
530
298
653
199
2,500
870
1,178
162
967
1,687
1,457
6.12
1,641
1,892
6.02
1,325
2,526
6.00
2,410
5,720
6.39
3,051
6,789
6.78
3,174
6,893
6.84
2,319
6,559
7.01
39, 763
2,930
6,290
7.06
2,595
5,800
6.51
2,309
4,879
6.19
2,442
3,843
6.04
2, 737
3, 234
6.09
3,156
4,185
G. 09
* 43, 662
74
78
0)
r
477
6
2
21, 868
r
r
26,160
29, 580
18, 540
45,360
51,480
49,500
49,020
50, 460
49, 740
47, 280
47, 580
44, 520
48,120
38,716
.325
32,057
13, 620
144,544
40, 030
.302
32, 250
14,880
157,724
39,834
.291
26, 527
21, 240
132,682
40,865
.303
48,030
27, 240
118, 443
44,820
.318
59, 564
33,840
127,444
36, 508
.324
61, 592
29, 580
124, 541
38, 532
.346
45,496
27,900
126, 678
39,008
.338
57,465
29,940
135, 394
.306
51,663
28,020
141, 504
40, 871
.292
46, 264
29, 760
135, 741
40, 292
.290
48, 974
37, 440
134, 511
' 40, 754
.290
' 54,170
33, 720
131,442
44, 330
.294
63,142
33, 540
137,132
13,356
13, 613
11, 284
9,733
11,439
14, 659
16,481
14,962
14, 762
14,185
r
13, 247
28, C04
19,124
10,248
2,775
34,624
48, 053
15, 219
181, 362
48,855
47,824
43, 596
36, 857
33, 608
r
27, 447
22, 913
75,842
.244
82, 261
.227
98,077
1209
109,838
.233
141,963
.264
119, 523
.312
110,066
.326
110, 777
.326
94,091
.262
100, 295
.269
114, 035
.298
122, 268
.322
115, 310
.330
122,436
83,890
125,706
98, 720
105, 315
91, 251
107,170
88,413
133, 652
97,345
139, 551
112,683
152,966
110, 912
139,900
99,320
139, 370
108, 829
133, 994
116,152
128, 596
112, 696
123, 583
112, 906
122, 760
128,141
125,686
141,671
105,941
140,430
91,358
89, 400
79,583
124,043
80,496
76,800
84, 239
59, 667
77,491
64,161
86, 703
63,850
104, 788
71, 561
114, 745
84, 848
89, 797
•" 86, 971
' 87,992
64, 289
79, 215
40,527
47,448
47,251
67,771
82,894
78, 249
72,914
87, 252
72,986
74,314
75,063
79,959
.330
41, 414
.332
48,897
.330
50,041
.340
67,422
.362
87,005
.385
81,806
.400
79,011
.402
87, 934
.392
80,418
.382
71, 817
.390
74,079
.405
83,892
.405
78, 853
63,094
79,921
47,086
98,978
45,803
117,858
159,623
41,887
145, 979
45,051
131, 819
53,488
136, 936
54,493
101,120
64,144
109, 013
59, 550
128,033
51,396
124,142
56, 751
120, 804
75, 915
2
12, 643
PAINT SALES
Calcimines, plastic-texture and cold-water paints:*
104
Calcimines
thous. of dol..
79
83
71
79
77
97
81
87
92
58
224
218
180
Plastic-texture paints
do
210
203
218
271
254
243
203
227
187
Cold-water paints:
432
409
In dry form
do
433
305
439
282
377
M01
253
416
361
407
In paste form for interior use
do
256
306
303
217
235
336
286
381
92, 634
86, 700
Paint, varnish, lacquer, and fillers, total®-_ do
71,199
84,951
91,443
68, 914
86, 312
91, 685
88,015
78,933
98, 316
82, 973
77,874
Classified, total
do
64, 200
76,956
82, 459
62, 213
76, 662
82,403
78, 778
71, 256
88, 774
31, 741
30, 018
Industrial
do
28, 623
31,073
34, 970
29, 688
31, 607
35, 328
31, 743
30,159
31, 557
51, 232
35. 577
47, 856
Trade
do
45, 883
32, 526
47, 489
45, 055
47, 074
47, 035
41, 097
57. 217
9, 661
6, 999
8, 825
Unclassified.
.do
7, 995 9, 650
6, 700
8,984
9,237
7.677
9,542
r
Revised. x Less than 500 pounds. 2 December 1 estimate. s July 1 estimate.
§ Data continue series published in the 1942 Supplement; unpublished data through February 1945 for the indicated series will be shown later.
} See note marked " § " on p. S-25 of the September 1947 Survey for reference to July 1941-June 1946 revisions for oleomargarine; revisions for July 1946-June 1947 are shown on p. S-25 of
the April 1948 Survey. Small or scattered revisions for 1941-August 1946 for the other indicated series will be published later. Revised data for fish oils are avaliable on a quarterly basis only.
d^This series, compiled by the U. S. Department of Labor, replaces the series for refined oil shown in the 1942 Supplement; earlier data will be published later.
• D a t a for some items are not comparable with data prior to 1945; see note for calcimines, plastics, and cold-water paints at bottom of p. S-23 of the December 1945 Survey.
©Revised figures for January 1946-February 1947 will be shown later.
SURVEY OF CUERENT BUSINESS
S-26
August 1948
1948
1947
Unless otherwise stated, statistics through
1941 and descriptive notes may be found
in the 1942 Supplement to the Survey
June
July
August
September
October
November
December
January
February
March
April
May
June
CHEMICALS AND ALLIED PRODUCTS—Continued
PLASTIC PRODUCTS
Shipments and consumption:
Cellulose acetate and mixed ester plastics: <g>
Sheets, rods and tubes
thous. of lb_.
Molding and extrusion materials
do
Nitrocellulose, sheets, rods, and tubes.® __.do
Other cellulose plastics*
do
Phenolic and other tar acid resins*
do
TJrea and melamine resins*
do.
Polystyrene*
_
do.
Vinyl resins*
do.
Miscellaneous resins*
do.
1,682
3,715
931
0)
27, 736
5,761
5,955
11, 546
5,891
1,410
2,779
892
0)
25, 930
5,652
5,688
11,573
5,819
1,479
3,404
903
0)
26,000
5,578
7,075
12,917
5,567
1,284
4,153
921
0)
27, 262
5,839
8,381
15,125
8,032
1,799
5,105
1,040
0)
28,129
6,836
10, 931
18,040
7,388
1,462
4,666
832
0)
25, 719
6,115
10, 593
16,837
7,120
1,343
3,830
842
0)
27, 662
6,739
11,456
20,404
7,157
1,285
4,461
865
747
28, 749
6,824
10, 226
19, 554
7,677
1,321
3,733
930
652
26,701
6,772
8,382
17,634
7,800
1,354
3,960
999
769
30, 594
7,116
12,718
19,037
8,639
1,568
3,877
1,071
974
26,356
6,561
12,189
19,198
8,219
1,458
3,630
866
1,024
20, 716
0)
10, 777
15,946
8,490
1,066
3,434
794
0)
20,337
0)
r
11,798
15,188
9,008
ELECTRIC POWER AND GAS
ELECTRIC POWER
Production (utility and industrial), total*
mil. of kw.-hr_.
Industrial establishments*
do
By fuels*...
do
By water power*
_
do
Utilities (for public use), total!..
do
Byfuelsf—
—
-.-do
By water powerf—
do
Privately and municipally owned utilities
do
Other producers!
do
Sales to ultimate customers, total (Edison Electric
Institute)!
—mil. of kw.-hr_.
Residential or domestic
do
Kural (distinct rural rates).
_
.do
Commercial and industrial:
Small light and power!
do
Large light and powers
do
Street and highway lighting!
do
Other public authorities!
do
Railways and railroads!
_
do
Interdepartmental!
do
Bevenue from sales to ultimate customers (Edison
Electric Institute)__
thous. of dol_.
24,469
4,225
3,825
400
20, 244
13, 451
6,793
24,938
4,156
3,772
383
20, 782
14,236
6,546
25,969
4,225
3,892
333
21,744
15,690
6,053
25, 634
4,153
3,858
295
21, 481
15, 875
5,606
26, 748
4,410
4,063
348
22, 338
16, 846
5,492
26,180
4,333
3,950
383
21,847
15, 763
6,084
27,951
4,439
4,085
355
23,512
17,099
6,413
28, 443
4,485
4,119
366
23,958
17, 514
6,444
26,465
4,271
3,902
369
22,194
15,821
6,373
27,966
4,488
4,061
427
23,478
16,005
7,473
26, 569
4,272
3,807
466
22, 296
14, 416
7,881
27,035
4,427
3,971
455
22,609
14,925
7,684
27,161
4, 456
4,034
422
22, 705
15, 769
6, 937'
17,414
2,829
17,847
2,935
18,733
3,011
18, 630
2,851
19, 540
2,798
18,977
2,870
20,292
3,220
20,649
3,309
18,996
3,198
20,015
3,463
18, 802
3,494
19,122
3,487
19, 446
3,259
17, 546
3,369
558
17,308
3,307
606
18,099
3,332
681
18,496
3,512
607
18, 656
3,601
488
18, 726
3,876
19,617
4,329
379
20,267
4,777
384
19, 904
4,633
429
19, 969
4,391
458
19, 400
4,159
463
3,060
9,356
154
475
531
44
3,123
9,068
160
459
638
46
3,252
9,601
175
483
632
44
3,406
9,724
193
490
518
45
3,293
9,951
219
499
548
46
3,346
9,757
234
502
578
51
3,490
9,934
251
530
648
56
3,570
9,990
248
548
685
66
3,518
9,897
219
534
613
59
3,497
10,197
214
531
623
59
3,450
10,014
188
509
560
57
309,631
306,855
315, 690
325,639
328,209
335,687
351,460
362,163
357,698
364,600
346,645
6,392
6,392
5,952
9,167
6,258
5,475
9,670
6,989
6,701
6,701
9,634
7,381
7,381
6,977
6,977
9,733
7,264
6,752
9,956
8,429
8,140
9,647
6,063
6,398
9,023
18,047
"J,lll
1,185
18, 323
773
773
13,140
"]~-Z
1,206
12,871
~"lil
980
12,139
"'™
943
13,129
~l]Zl
1,099
12,155
'"17.
957
GASf
Manufactured and mixed gas (quarterly):
Customers, end of quarter, total
thousands..
Residential (incl. house-heating)
....do
Industrial and commercial....
do
Sales to consumers, total
......mil. of cu. ftResidential
.
do
Industrial and commercial
do
Revenue from sales to consumers, total
thous. of dol_.
Residential (incl. house-heating)
do
Industrial and commercial
—_do._,.
Natural gas (quarterly):
Customers, end of quarter, total
thousands
Residential (incl. house-heating)
_._do
Industrial and commercial
do
Sales to consumers, total
mil. of cu. ft..
Residential (incl. house-heating)
do
Industrial and commercial
..
do
Revenue from sales to consumers, totaL.thous.of doL.
Residential (incl. house-heating)
do
Industrial and commercial
do__..
11,258
10,536
713
151,486
100,881
49,273
11,058
10,350
700
108,430
66,906
40,635
10,852
10,141
703
147,140
97, 271
48, 479
135,259
100,682
33,719
108,519
80,130
27,796
135,198
99, 715
34,601
9,772
9,061
716
596,470
161, 527
428, 608
197, 743
104,348
92,106
10,107
9,392
708
521,774
76, 503
439,602
150,444
59,770
89,584
10,688
9,897
784
646,412
185,386
452, 909
220, 431
117, 858
100,887
FOODSTUFFS AND TOBACCO
ALCOHOLIC BEVERAGES
Fermented malt liquors:!
Production
thous. of bbl._
Tax-paid withdrawals....
.._
do..._
Stocks, end of month
do....
Distilled spirits:
Apparent consumption for beverage purposes!
Imports§
....thous.'of proof gal".
8,342
7,939
~ """
9,565
11,392
"_;_._
1,071
9,044
8,776
"
9,453
8,833
8,842
9,050
8,738
8,369
"
9,021
9,064
8,303
"
9,414
12,283
'_._
834
12, 378
...
797
14, 216
J,.._
1,172
23, 893
~\\\V1,414
6,650
6,126
6,126
IIIIII"""
16,
429
13,
726
14,187
22,
218
Production!
-thous. of tax gal..
16,429
13,726
22,218
39,559
4,193
9,489
21,884
32,809
28,705
23,260
39, 559
7,735
21, 884
4,193
32, 809
9,
489
25,955
28,
705
Tax-paid withdrawals!
do
6,039
5,650
7,171
7,171
8,639
16,497
10,342
8,080
6,660
7,210
6,785
6,292
16,
497
16,030
8,937
7,210
529,
533,051
537, 471
542, 907
Stocks, end of month!
do.__. 525,828
" 523
""
527,337
- ~ . » — 516,406
-.-»..-._>-..
523,
_-_»_..
546
545,365
_...»_...
_..»..
..__>_._
513,
896
564,119
580,827
Whisky:
1,002
793
757
1,102
1,310
1,108
709
892
1,059
866
996
863
Imports}.
-thous. of proof gal..
_,..
...
...
_,_._
_,__
_
,_
._
_, _
__
_
_
9,932
7,197
7,229
9,790
9,732
56
655
4,702
13,768
20,635
20,041
20, 853
Production!
thous. of tax gal._
3,280
2,975
3,372
4,258
7,770
7,819
5,507
4,050
4,177
3,575
3,305
3,616
Tax-paid withdrawals!
do_.._
3,280
2,975
3,372
4,258
7,770
7,819
5,507
4,050
4,177
3,575
3)616
3)305
3,132
464,825
468,432
471, 273
474,956
474, 507
463,407
455, 409
456,366
462,090
479, 241
494, 969
511,242
Stocks, end of month!
do
464,825
468,432
471,273
474,956
474,507
463,407
456,366
455,409
462,090
479,241
494,969
511,242
521,467
r
Revised, i Not available for publication. § Data continue series published in the 1942 Supplement; data for December 1941-February 1945 will be published later.
1For 1943-44 revisions for the indicated series see notes at bottom of pp. S-23 and S-24 of the May 1945 Survey.
®Data for sheets, rods and tubes are comparable with similar data in the 1942 Supplement; see note in September 1946 Survey regarding change in data for molding, etc. materials.
*New series. For data for 1939-45 for production of electricity by industrial establishments see p. 32 of the February 1947 Survey; minor revisions for January to October 1946 will be shown
later. The new series for plastic products are from the Bureau of the Census and include all known producers; earlier figures and a description of the data will be published later.
TRevised series. Gas statistics are shown on a revised basis beginning in the December 1946 Survey; see note in that issue. For revised figures for the indicated series on electric power
production, except the series for "other producers," see p. 32 of the February 1947 Survey; minor revisions for January to October 1946 will be published later. See note marked " ! " on p . S-26
of the September 1947 Survey for reference to revisions for 1940-45 for consumption of distilled spirits for beverage purposes and for the fiscal years 1941-46 for the other alcoholic beverage
series; the note also explains a change in the series for stocks of distilled spirits; see p. S-23 for tax-paid withdrawals of ethyl alcohol, which are largely for beverage purposes.
SURVEY OF CUEEENT BUSINESS
August 1948
Unless otherwise stated, statistics through
1941 and descriptive notes may be found
in the 1942 Supplement to the Survey
S-27
1948
1947
June
August
July
September
October
November
December
January
February
March
April
June
May
FOODSTUFFS AND TOBACCO—Continued
ALCOHOLIC BEVERAGES—Continued
Rectified distilled spirits, production, totalf
thous. of proof gal..
Whissky
_
do
Wine and distilling materials:
Sparkling wines:
Imports§
thous. of wine gal_.
Productionf
do.
Tax-paid withdrawalsf
do.
Stocks, end of month!
do
Still wnes:
Imports§
_
.do
Production©
do
Tax-pajd withdrawals!
do
Stocks, end of month!
do
Distilling materials produced at wineriesO.do
7,021
6,522
7,831
7,012
7,522
9,689
8,965
16,480
15,126
17,593
16, 254
12,732
11, 656
8,217
9,307
8,655
8,423
7,664
8,661
7,928
8,140
7,307
48
64
1,964
84
1,911
28
29
155
1,774
28
57
158
1,656
18
97
147
1,581
26
101
64
1,599
12
78
54
1,613
11
144
57
1,685
25
166
50
1,792
22
64
62
1,791
383
6,627
152,534
1,867
117
2,479
146,660
7,948
194
31, 575
8,180
171,239
49,423
175
53,331
11,431
215, 860
96, 627
138
11, 429
11, 220
216, 517
31,179
139
2,675
10, 282
205,083
8,596
237
657
9, 471
195,888
2,554
160
495
186,843
1,031
214
799
10, 904
176, 213
2,248
183
647
9,953
166,314
168
413
7,982
158,141
2,610
.674
148,790
83, 286
.745
116, 550
.802
101,310
76, 912
.718
91,890
72,125
.794
69, 220
46,002
.881
74,490
23,672
.851
79,080
13,399
77,095
7,323
.802
89,990
3,482
.828
100, 025
4,449
1,139
1,554
1,519
1,369
1,915
1,591
2,012
82, 720
64,170
176, 626
151, 455
.391
61, 760
44, 480
162,682
139,355
0)
60,025
42,395
147, 683
128,188
0)
65,140
45, 740
124,106
107, 236
0)
64,630
46, 730
110,125
93, 570
0)
0)
80, 615
58, 915
103, 350
88, 737
96, 230
73,490
105, 263
91, 907
0)
• 129,100
' 102, 620
' 123, 507
' 106, 712
10, 222
32, 766
12
146
44
1,975
129
309
6,249
160,211
661
2,096
8,342
7,320
DAIRY PRODUCTS
Butter, creamery:
.633
Price, wholesale, 92-score (N. Y.)t dol. per lb_.
Production (factory) f
thous. of l b . . ' 157, 366
51, 625
Stocks, cold storage, end of montho"
do
Cheese:
401
Imports§
do
Price, wholesale, American Cheddars (Wisconsin)
dol. per lb__
0)
Production, total (factory) f
thous. of lb_. • 151,326
American whole milkf
_do
125, 016
Stocks, cold storage, end of monthcf
do
161, 363
American whole milk
do
130, 005
Condensed and evaporated milk:
Exports: §
8,562
Condensed
___
_do
Evaporated
do
42,869
Prices, wholesale, TJ. S. average:
8.26
Condensed (sweetened)
dol. per case..
5.18
Evaporated (unsweetened)
do
Production:
Condensed (sweetened):
Bulk goods0
thous. of lb_. 117, 535
12, 950
Case goods!
do
410, 000
Evaporated (unsweetened), case goods!..do
Stocks, manufacturers', case goods, end of month:
7 J 96
Condensed (sweetened)
thous. of lb_.
• 439, 005
Evaporated (unsweetened)
do
Fluid milk:
4.41
Price, dealers', standard grade
dol. per 100 lb_.
12,821
Productionf--mil. of lb..
Utilization in manufactured dairy products!
5,814
mil. oflb..
Dried skim milk:
21, 538
Exports§
_
-thous. of lb__
Price, wholesale, for human consumption, U. S.
.096
average
dol. per lb._
Production, total!
thous. of lb_. 102, 020
96, 730
For human consumption!
do
Stocks, manufacturers', end of month, total
thous. of lb_- 115.105
111, 155
For human consumption
do
FRUITS AND VEGETABLES
Apples:
Production (crop estimate)
thous. of bu_.
Shipments, carlot
no. of carloads.Stocks, cold storage, end of month..thous. of bu._
Citrus fruits, carlot shipments
no. of carloads..
Frozen fruits, stocks, cold storage, end of month
thous. of lb_Frozen vegetables, stocks, cold storage, end of
month
thous. oflb..
Potatoes, white:
Price, wholesale (N. Y.)__
dol. per 100 lb._
Production (crop estimate)!
thous. of bu..
Shipments, carlot
.no. of carloads..
627
329
13, 857
332,345
251,687
4.106
25.272
.801
132, 675
' 18,638
1
135, 560
51, 334
459
647
615
.338
136,425
113, 505
185,202
151,661
.345
110,140
89, 610
202, 597
169,571
.365
92, 670
74, 480
193,849
164,651
9,201
42,071
8,161
41,394
15, 726
72,852
14,655
49,110
8,831
25, 680
7,818
19,601
16,073
8,830
18, 745
16,123
30, 555
8.26
5.19
8.26
5.20
10,316
55,278
8.26
5.24
8.40
5.31
5.52
8.80
5.70
8.93
5.83
9.12
5.99
9.12
6.00
9.32
6.08
r
9.69
'6.41
9.71
6.48
74,095
15,025
347,600
32,470
17,150
257,400
23,045
21,100
218,000
20,330
19, 500
200, 500
12,095
12, 650
152, 500
14,165
11,475
156,400
14, 720
8,575
176,000
14, 530
8,800
193,000
17,575
10, 275
270,400
25, 255
13, 900
332,000
44, 300
13, 500
449, 700
47, 890
12, 500
443, 700
9,477
501,177
10, 561
474,600
11,333
379, 712
9,463
284,061
8,501
223, 940
9,362
158, 551
8,682
95,433
9,124
73, 267
8,622
63,117
8,777
80, 752
11,619
177, 715
12, 615
337, 507
4.49
12,102
4.60
10, 595
4.71
9,259
4.87
8,845
4.97
8,015
5.02
8,056
5.08
8,354
2,010
(0
131, 980
106, 440
165,176
139, 863
r
5.10
8,219
5.09
9,273
5.07
10, 002
5.03
11,842
5.04
12, 309
5,242
5,344
4,223
3,654
3,319
2,479
2,568
2,766
2,769
3,360
3,876
' 5,182
28,309
29,803
25,188
43,660
33,512
28,515
19, 710
9,671
6,810
5,383
16,336
.095
81,830
78,500
.097
51,925
49,450
.102
41,000
39, 740
.111
31,935
31, 000
.124
22,850
22,320
.141
31, 525
30,780
.146
38, 570
37, 700
.149
40, 425
39,650
.148
53, 940
52, 750
.143
65, 670
64,100
M44
92, 400
90, 250
.148
94, 000
91, 600
95,744
91,028
76,713
74,030
50,237
48,813
35, 732
35,359
21,172
20,450
15,243
14, 685
14,972
14,613
18, 559
18,155
32, 202
31,806
40, 750
40, 293
63; 577
81, 206
80, 093
1,428
219
783
264
6,214
10, 435
7,403
8,624
34,322
10, 430
5,531
35, 790
13, 275
4, 516
22, 772
16,695
4,729
16, 567
14,701
4,175
10, 244
15, 218
3,523
4,896
15, 061
402,821
405, 838
392,077
343, 539
316,819
281, 762
247,895
250, 326
353,239
347,466
323, 991
254,853
226, 619
196,628
176,118
160, 423
9,429
9,027
374,363
408,119
307,574
326,603
16, 499
369,470
291, 752
( )
2 384,407
19,028
100,049
678
365
1,720
1, 855
14, 233
r
12, 349
282, 581
3
(3)
22,313
2113,041
3,918
29,807
25,187
25,504
20,136
15, 974
4
22,092
21,484
27,753
' 23, 405
r
23, 059
186,166
()
391, 833
32, 993
GRAINS AND GRAIN PRODUCTS
Exports, principal grains, including flour and meal§
62,684
thous. of bu_.
64,286
67,855
47,281
51, 799
42,395
42,447
42,269
39,312
35,838
49,622
Barley:
Exports, including malt§
__do
3,299
4,234
4, 277
2,641
2,713
859
1,370
794
668
1,106
1,157
465
Prices, wholesale (Minneapolis):
No. 2, malting
dol. per bu
2.136
2.259
2.299
2.276
2.379
2.590
2.711
2.675
2.359
2.354
2.381
2.433
2.267
No. 3, straight
do
2.032
2.130
2.143
2.117
2.218
2.426
2.142
2.507
2.243
2.267
2.227
2.099
2.510
2
Production (crop estimate)!
thouslof bull
307,
070
279,182
Keceipts, principal markets..
do. I.
8, 252
7,974
25,093
27,113
14,605
12, 111
8,679
5,773
8,455
10,021
5,737
5,717
7,270
Stocks, domestic, end of month:
Commercial
do
7,753
14,263
5,593
27, 444
26, 581
29, 679
27,846
24, 205
21, 521
6,740
15, 756
10,879
7,597
On farms*
do
• 30, 000
160,403
___ _________ 117,300
26, 600
r
1
2
3
4
Revised. No quotation. December 1 estimate. No comparable data. July 1 estimate.
JSee note in June 1945 Survey for explanation of this price series, cf See note marked ' V o n p. S-29.
©Distilling materials produced at wineries, shown separately above, were combined with production of still wines as shown in the Survey through the February 1947 issue
fcJJata continue series published in the 1942 Supplement but suspended during the war period; data for October 1941-February 1945 will be published later. The 1947 export figures for
y products and grams have been revised to include Army civilian supply exports (see note marked " § " on p. S-20).
u&iuv* iur
• Revised 1943 data are on p 13 of the March 1945 Survey; see note on item in February 1945 issue regarding earlier data; 1944-45 revisions are on p. 23 of October 1947 Survey. Final
revisions ior iy4o will oe shown later.
•New series. Data beginning 1936 will be shown later; the June figure includes old crop only
fRe vised series. See note marked " t " on p. S-26 of the September 1947 Survey for reference to revised figures for fiscal years 1941-46 for the indicated alcoholic beverage series Revisions
for all months of the fiscal year 1947 are shown on p . S-27 of the November 1947 Survey. See notes marked " f " on pp. S-25 and S-26 of the April 1946 Survev for references to 1941-43 revisions
1940-December 1945 rei
SURVEY OF CURRENT BUSINESS
S-28
August 1948
1947
Unless otherwise stated, statistics through
1941 and descriptive notes may be found
in the 1942 Supplement to the Survey
June
July
August
1948
September
October
Novem- j December
1 ber
January
February
March
April
June
May
FOODSTUFFS AND TOBACCO—Continued
GRAINS AND GRAIN PRODUCTS—Con.
Corn:
Exports including meal §t
thous. of bu__
Grindings, wet process
do
Prices, wholesale:
No. 3, white (Chicago)
dol. per bu__
No 3 vellow (Chicago)
do
Weighted average, 5 markets, all grades__do
Prodnpfion (prnr> estimated t
mil of bu
Receipts principal markets
do
Stocks, deomstic, end of month:
Commercial
do
r
Oats:
Exports, including oatmeal§t___
thous. of bu_.
Price, wholesale, No. 3, white (Chicago)
dol. perbu__
Receipts priddpal markets
Stocks, domestic, end of month:
Commercial
do
do
Rice*
ExnortsSi
thous. of lb
Imports §
Q°
Price, wholesale, head, clean (N. O.)._dol. per lb._
Production (crop estimate)!..
.thous. of bu__
California:
Receipts, domestic, rough
tbous. of bags (100 lb.)._
Shipments from mills, milled rice _ _ do
Stocks, rough and cleaned (in terms of cleaned),
end of month
thous. of bags (100 lb.)_.
Southern State? (La., Tex., Ark., Tenn.):
Reccints, rough, at mills., thous. of bbl. (1621b.)..
Shipments from mills, milled rice
thous. of pockets (100 lb.)..
Stocks, domestic, rough and cleaned (in terms
of cleaned), end of month
thous. of pockets (100 lb.)_.
Rye:
Price, wholesale, No. 2 (Minneapolis)-dol. perbu..
Production (crop estimate)!
thous. ofbu..
Receipts principal markets
do
Stocks, commercial, domestic, end of month.do
Wheat:
Exnorts wheat including
flourSt
do
Wheat only§
...do
Prices, wholesale:
No. 1, Dark Northern Spring (Minneapolis)
dol. per bu__
No 2 Red Winter (St Louis)
do
No. 2, Hard Winter (Kansas City)..
do
Weighted av 6 mkts., all grades
_ do
Production (crop estimate), totalf—.mil. of bu__
Winter wheat
Receipts, principal markets..
Stocks, end of month:
Canada (Canadian wheat)
Commercial
do
.thous. ofbu.
- do
-
do
Wheat flour:
Exports §$
thous. of bbl
Grindings of wheat®
__ .thous. of bu.
Prices, wholesale:
Standard patents (Minneapolis)__dol. per bbl.
Winter straights (Kansas City)
do
Production (Census):®
Flour
_ __ thous. of bbl.
Operations percent of capacity _
Offal
mil. ofib.
Stocks held by mills, end of month<g>_thous. of bbl.
16,353
11,635
5,827
11,083
1,951
11,100
1,425
11,387
1,496
10,831
2.143
2.097
1.948
2.169
1.995
2.740
2.346
2.295
2.583
2.513
2.370
2.508
2.403
2.277
2.465
2.423
2.345
40.2
39.1
22.8
22.6
21.1
22.7
11.2
677.4
11.8
7.7
7.9
3 254.2
7.3
2,767
2,274
950
663
1.021
.952
1.014
1.161
12.2
16.2
29.2
22.5
16.7
7.4
5.0
257.1
5.6
15.9
26.6
964.3
27.8
22.1
52,403
3
.090
22,897
1
.126
21,592
2
.125
61,944
204
.118
118,889
1,236
.114
140, 214
424
.121
300
242
207
154
41
142
75
69
1,490
443
877
449
171
169
59
41
536
639
669
107
99
573
3,306
5,790
2,644
942
246
477
309
1,784
3,051
2,889
1,625
4,141
18,014
11,794
'
r
8
1,027
9,762
942
8,386
783
7,999
1,213
7,804
382
8,408
(0
2.253
2.152
2.442
2.301
2.229
2.390
2.318
2.257
2.388
2.306
2.249
8,962
2.445
2.316
2.259
3 3,328. 9
23.2
2.572
2.611
2.489
2 2, 401. 0
20.0
2.692
2.711
2.582
26.9
18.3
12.3
19.7
19.9
11.6
13.2
1. 517. 9
17.0
21.0
9.3
849 2
7.5
5.0
609
2,728
1,741
2,614
1,291
1,091
1,113
610
1.201
1.241
1.273
21, 216. 0
8.1
1.401
1.273
1.298
1. 253
1.170
12.0
5.8
8.4
8.2
9.2
14.0
743.8
10.0
7.1
3.3
410.6
1.9
1.7
31, 628
267
.127
104,889
647
.134
63,322
1,266
.129
93,137
480
.129
14,014
897
.138
582
549
820
796
728
273
1,021
668
634
476
386
339
527
284
481
490
404
292
621
365
203
155
207
129
1,307
890
953
1,217
832
502
3,562
3,071
2,359
1,346
735
389
2.763
2.410
2.562
2.530
2.412
437
3,636
367
2,688
609
1,521
654
1,286
657
954
2.247
3 26, 671
438
531
45,940
24, 502
39,147
27,121
317,047
34, 624
19, 397
36, 206
21,118
33, 740
19, 979
3.198
3.120
3.032
3.149
2.765
2.866
2.508
2.684
2.667
2.538
2. 454
2.609
2.669
2.546
2.445
2.612
2.625
2.440
2.402
2.596
31, 475
90,675
209
.122
2 79, 345
510
292
476
119
393
2,002
4,863
4,755
3.029
2.541
2.466
2.817
2.853
2.824
102
1,024
177
556
2,634
2,214
2,084
3, 824
1,366
4,262
512
4,427
2.769
2 25, 977
443
4,072
224, 740
38, 237
10,354
41,383
20, 047
56, 843
38, 605
3?8, 531
46, 278
29,132
41,862
26, 366
36, 834
25, 933
325, 626
38, 301
26, 421
2.719
2.587
2.373
2.563
2.935
2.368
2.288
2.400
2.710
2.384
2.318
2.472
2.840
2.704
2.646
2.801
3.167
2.952
2.953
3.093
3.231
3.020
2.999
3.154
T
603
10,180
26,156
121,869
91,847
72, 625
68,872
43, 297
r 67, 654
' 4 83,813
4 8,129
r 410,116
4 24,591
4 40,477
' 55,675
r 58, 688
146,292
130,639
114,913
167,718
113,863
1,122,206
175,069
196, 631
136, 216
610, 300
166,359
5,932
55,462
4,540
57,031
3,880
59, 619
3,648
56, 720
12.60
11.03
13.27
10.77
12.72
10.97
12,332
83.9
928
2.237
12, 713
83.2
944
621
1,207
3,653
1,329
3.160
3.089
3.011
3.110
21, 364. 9
2
296. 9
21,068. 0
40, 028
r
5.2
426.5
1.111
31.425. 8
8.7
1.8
171.5
.159
3 79,247
284,763
2.610
2.325
2.294
2.562
3 1,241.8
3 289. 8
3 952. 0
49,299
36,469
16, 296
14, 895
23, 300
115,735
102.328
53 096
124,041
97, 989
85, 835
r
479,648
70,174
' 75, 382
r
73, 714
256, 533
72,082
152,400
126,282
796, 618
141,889
112,279
111,730
427, 620
56, 694
49, 622
48, 305
194 890
4 34,065
4 29, 683
4 34 300
4
94, 312
3,297
60,393
2,319
54,188
2,528
53, 734
4,561
55,141
2,559
47, 974
3,240
49, 631
3,210
50, 288
2,928
51,883
52,416
13.57
12.03
14.56
13.13
14.97
13.51
14. 23
13.21
14.06
13.20
12.34
11.24
12.08
11.07
11.91
10.92
11.46
10.61
11.31
9.98
13,233
86.4
996
12,646
85.8
948
2,523
13,432
84.3
1,012
12,080
89.0
899
11,977
78.0
896
3,016
12,334
80.0
922
10, 715
78.1
804
11,106
69.0
831
2,567
11,265
72.6
845
11,566
77.7
861
11,646
80.3
876
2,344:
656
1,274
3,455
1,280
628
1,217
2,731
1,253
719
1,407
2,948
1,458
813
1,497
3,978
1,697
762
1,337
5,501
1,471
673
1,346
6, 254
1,451
586
1,312
5,223
1,347
511
977
3/746
1 209
566
986
3, 574
1 175
550
899
3, 343
1,045
509
877
3,562
978
620'
1 109
4,235
1 262
2,, 384
120
2,435
157
2,259
198
3,199
395
3,353
621
2,617
321
2.233
145
2,028
103
1. 4S5
59
1,680
54
1,878
82
1,898
117
2,127
134
25.87
21.11
24. 00
27.85
21.91
22.94
28.84
21.22
22.63
29.54
21.65
24.30
29.82
20.96
25.38
29.52
21.32
25.81
29.08
23.59
26.75
29.16
26.31
29.06
26.43
24.15
27.00
26.71
25.57
25.65
28.43
26.62
25.75
31.33
27.60
28.90
34. 72
26.96
27.25
4
LIVESTOCK
Livestock slaughter (Federally inspected):
Calves
thous. of animals
Cattle
do
Hogs
do
Sheep and lambs
do
Cattle and calves:
Receipts, principal m a r k e t s . __thous. of animals.
Shipments, feeder, to 8 corn belt Statesf
do___
Prices, wholesale:
Steers, beef (Chicago)
dol. per 100 l b .
Steers, stocker and feeder (Kansas C i t y ) . . . d o . . .
Calves, vealers (Chicago)
do...
r
4
Revised. 1 No quotation. 2 December 1 estimate. 3 July 1 estimate.
Includes old crop only; new corn not reported in stock figures until crop year begins in October and new oats and wheat until crop year begins in July.
§ Data continue series published in the 1942 Supplement but suspended during the war period; data for October 1941-February 1945 will be published later. The unit of measurement
for wheat flour exports was erroneously shown as thousands of bushels in the August 1947 Survey and earlier issues; thefigureshave been shown in thousands of barrels in all issues.
1 The total includes 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.
t Revised series. The indicated grain series have been revised as follows: Crop estimate for oats, 1932-44, and rice, 1937-44; other crop estimates, 1929-44; domestic disappearance of wheat
and stocks of wheat in country mills and elevators, 1934-44; corn, oat and wheat stocks on farms and total United States stocks of domestic wheat, 1926-44; all revisions are available on request.
See p. S-27 of the August 1943 Survey for revised figures for 1941-42 for feeder shipments of cattle and calves.
®Data for June 1947 and previous months were reported by approximately 1,100 mills believed to account for about 98 percent of the industry; later data axe estimates for these mills
based on monthly reports of 425 mills with a daily 24-hour capacity of 401 sacks or more of flour.
t Data include Army civilian supply shipments (see note marked " § " on p. S-20).
SUEVEY OF CUKRENT BUSINESS
August 1948
Unless otherwise stated, statistics through
1941 and descriptive notes may be found
in the 1942 Supplement to the Survey
S-29
1948
1947
June
August
July
September
October
November
December
January
February
March
April
May
June
FOODSTUFFS AND TOBACCO—Continued
LIVESTOCK—Continued
Receipts, principal markets...thous. of animals..
Wholesale, average, all grades (Chicago)
dol. per 1001b__
Hog-corn ratiof
bu. of corn per 100 lb. of live hogs..
Sheep and lambs:
Receipts, principal markets.-.thous. of animals..
Shipments, feeder, to 8 corn belt Statest--- do
Prices, wholesale:
Lambs, average (Chicago)
dol. per 100 lb_Lambs, feeder, good and choice (Omaba)_do
2,329
2,206
1,774
1,942
2,305
3,303
3,771
3,272
2,305
2,309
2,462
2,660
2,863
23.10
22.06
22.11
23.74
26.66
27.81
24.96
26.31
26.71
22.25
21.40
19.79
20.15
'11.9
11.7
11.1
11.3
12.4
11.1
10.5
10.9
11.2
10.3
9.4
9.1
10.6
1,982
134
1,677
166
1,688
283
2,452
556
2,871
677
1,833
393
1,587
131
1,428
81
1,255
64
1,259
65
1,211
69
1,382
106
1, 590
149
22.75
24.25
0)
0)
20.25
21.31
22.50
22.60
22.62
21.05
22.75
20.98
24.08
20. 53
25.00
21.78
23.00
20.44
21.50
19.47
24.00
21.61
' 26. 75
22.67
63
1,490
772
69
52
1, 509
743
67
62
1,289
636
59
81
1,356
506
56
62
1, 556
480
51
52
1,740
635
58
39
1,918
980
71
35
1,762
1,130
74
41
1,323
1,168
71
69
1,299
1,097
67
25
1,197
990
56
29
1,228
'941
r
51
1, 549
949
53
47
29.00
0)
MEATS
Total meats (including lard):
Fxports§t
mil. of lb.
Production (inspected slaughter)
do
Stocks cold storage, end of month^d 1 - do_ ._
Edible offal®
do
Miscellaneous meats and meat products®
mil. of lb_-
50
40
36
29
27
31
42
50
65
70
58
49
28, 532
18, 424
15,263
23,898
8,400
5, 983
2,360
1,389
1,467
9,165
1,050
712
.408
670,038
114, 568
.434
702, 877
101, 732
.469
650, 486
106,179
.482
749,027
92, 781
.466
792,883
112,290
.466
707, 751
151,856
.468
709, 306
196, 252
.479
698,314
193, 316
.419
541,914
178, 541
.436
563, 238
154,411
.468
527,314
120,898
54, 823
9,348
53,172
8, 085
52, 007
7,837
60,043
6,645
69, 891
11, 893
60, 790
17, 280
61, 943
20,317
60,107
19,284
55,859
16,971
55,049
14,890
47, 601
9,106
756,848
753,173
586, 369
547,045
613,312
971,957 1,147,168
1,003, 276
724, 834
680, 771
4,651
1,955
4,651
2, 905
2,412
3, 228
2,400
1,756
3,216
3,430
.572
.529
556, 305
352, 814
.568
.552
550,620
331, 746
.641
.593
438, 482
264,124
.664
.622
417, 926
195, 896
.589
.564
539, 982
187, 971
.551
.480
759, 222
304, 851
.577
.456
867, b96
527,159
.612
.482
745, 581
659, 309
.538
.471
531,423
700,114
22, 007
.195
146,680
175, 269
23,041
.182
148,100
193, 736
34,804
.176
108,114
162,565
43,420
.232
94, 015
125, 579
38, 286
.285
111, 619
90,437
33, 522
.302
154,639
73,377
23, 210
.290
204, 084
113,286
23,143
.292
188,171
133, 513
.244
34,800
171,260
.240
40,474
174,627
.235
37,316
183,024
.242
51, 774
205,653
.236
61,637
277, 870
.216
78,087
317,112
.240
68, 856
317,463
14,163
9,113
1,324
184
226
330
.414
•• 5,188
.434
4,539
.422
3,832
.450
3,383
.464
3,457
.455
3,291
4,203
237,303
4,268
241,573
3,807
234,434
2,804
216, 762
1,818
189, 596
824
164,673
thous. of dol..
43,684
36,258
42,059
63,089
84, 539
long tons
dol. per lb_.
20,376
.301
13,627
.327
19,598
.345
17, 513
.404
12,645
.495
Clearances from Brazil, total
thous. of bags_To United States
_ - . _ _ do
Imports?
... _ _
do
Price, wholesale, Santos, No. 4 (New York)
dol. per lb_Visible supply, United States
thous. of bags. -
1,057
545
776
912
564
1,069
1,452
1,018
1,153
1,570
1,117
1,818
.253
1,132
.256
1,000
.264
1,056
Landings, fresh fish, 4 ports
thous. oflb
Stocks, cold storage, end of month
do
Sugar:
Cuban stocks, raw, end of months
thous. of Span. tons__
45,805
90,158
47, 716
110,611
r 3, 316
2,991
Exports§t
thous. oflb
Price, wholesale, beef, fresh, native steers
(Chicago)
-dol. perlb-Production (inspected slaughter)
thous. of lb_.
Stocks, cold storage, end of month<&(?
do
Lamb and mutton:
Production (inspected slaughter)
_
_
do.-.
Stocks, cold storage, end of month(gid1
do
Pork including lard, production (inspected
slaughter)
thous. of lb_Pork, excluding lard:
ExportsSJ
do
Prices, wholesale:
Hams, smoked (Chicago)O
dol. per lb._
Fresh loins, 8-10 lb. average (New York)_do
Production (inspected slaughter)
thous. oflb..
Stocks, cold storage, end of monthfgJd1
do
Lard:
Exports$t
__
. ..do....
Price, wholesale, refined (Chicago)... dol. perlb.
Production (inspected slaughter) 1 thous. oflb..
Stocks, cold storage, end of monthd
do
.500
503. 226
102, 578
.542
615,696
88, 235
42, 039
7,665
51,710
7,879
621, 675
682, 325
881, 565
1,794
2,804
.561
.523
506,096
661,399
.569
.536
473,317
606,827
. 576
.545
514,718
' 580, 056
.610
. 535
650,982
579,105
25, 544
.239
141,384
137,416
47, 530
.238
127, 736
129,028
16,328
.250
108,165
138, 924
20, 929
.243
122, 340
150, 660
.245
168,689
174.110
.265
28,083
293, 640
.260
22,385
262,374
.280
25, 275
205, 745
.298
26,614
153,424
162
552
1,029
1,781
.517
3,746
.441
4,338
.434
4,723
.432
6,093
196
138,192
269
122, 438
374
120,665
1,165
143,253
r
3,091
195, 954
76,085
73,802
61,994
65,094
67,698
12,625
.510
31,858
.430
18, 415
.436
39,151
.436
32,147
.394
1,412
903
1,870
1,595
1,138
1, 515
1,550
1,173
2,157
1,433
1,089
2,055
1,220
760
1,884
.272
1,128
.270
1,288
.272
1,110
.268
1,369
.266
1,144
59, 746
132,930
53, 707
135,870
57, 437
140,070
31, 361
142,102
28,519
133, 844
2,591
2,238
1,121
813
215
T
r
r
-
POULTRY AND EGGS
Price, wholesale, live fowls (Chicago)., dol. perlb. _
Receipts 5 markets
thous. oflb
Stocks cold storage, end of monthd1
- - do
Eggs:
Dried production*
do
Price, wholesale, U. S. standards (Chicago)*
dol. per doz_.
Productiont- - - millions
Stocks, cold storage, end of month:c*
Shell
thous. of cases
Frozen
_ _
thous. of lb
.292
31, 221
117,935
.296
32 736
100 417
3,213
5 541
9 081
.429
6,304
.410
5,992
.416
5,019
r
4 963
248 574
f) 662
96R 401
56,189
46,075
45,154
17,461
.354
24,208
.332
1,285
742
1,884
1,413
979
1,211
1,605
1,118
1,604
1,294
733
.264
1,183
.264
1,111
.266
952
.270
948
.270
1,044
18, 227
112,046
26,164
90,491
44,185
76, 743
68,268
85, 601
100, 537
455
1,645
2,911
3,134
3,810
3,176
r
T
MISCELLANEOUS FOOD PRODUCTS
Candy, sales by manufacturers
Imports^
Price, wholesale, accra (N. Y.)§
r
.416
Deliveries and supply (raw value): *
902, 939
826,310
388,071
343,020
586, 012
740, 720
800,184
572, 746 r 562,391 * 599, 958 818,181
378, 341
Deliveries, total
short tons 1,020,448
r
814, 200
778,978
337, 591
887, 347
l ,000,403
382, 930
792,920
565, 503
366, 575
580,194
730, 790
557,910 ' 595,614
For domestic consumption
do.
3,981
' 4, 344
5,429
5,141
15, 592
' 20,045
5,818
7,264
47,332
4,481
7,243
9,930
11, 766
For export
.
do
Production and receipts:
492,872
512, 510
459,202
465,489
544, 243
605,075
719,956
359,259
384, 783
81,968
443, 968
445,309
566,627
Entries from off-shore areas
do
46,339
534,233
636,444
132,019
''25,222
68,262
144,172
485, 709
34, 590
86,749
38,992
Production, cane and beet
do
59,875
Stocks, raw and refined, end of month
r
1,502
1.782
thous. of short tons__
1.843
1,808
1,904
911
861
1,105
1,950
1,880
1,407
1,001
1,138
Revised,
*
No
quotation.
©Prices
since
November
1946
are
not
strictly
comparable
with
earlier
data;
figure
for
November
1946,
comparable
with
later
date
is
$0,545.
2
January-April 1948 total, including corrections for months prior to April, 248,372 tons; corrected monthly figures are not available.
§ Data continue series shown in the 1942 Supplement but suspended during the war period; unpublished data beginning October 1941 will be shown later.
cTCold storage stocks of dairy products (p. S-27) meats, poultry, and eggs include stocks owned by the U. S.Dept. of Agriculture and other Government agencies, stocks held for Armed
Forces stored in warehouse space not owned or operated by them and commercial stocks; stocks held in space owned or leased by the Armed Forces are not included.
<g>See note in May 1946 regarding changes in the indicated series made in that issue and an earlier change beginning June 1944.
• Data are from the U. S. Department of Labor. Quotations since July 1943 have been for U. S. Standards; they are approximately comparable with earlier data for fresh firsts.
1 For data for December 1941-July 1942 see note in November 1943 Survey.
•New series. Data for 1927-43 for dried eggs are on p. 20 of the March 1945 Survey. See note in April 1945 Survey for description of the new sugar series.
tRevised series. The hog-corn ratio has been shown on a revised basis beginning in the March 1943 Survey; revisions for 1913-41 will be shown later. See p. 8-27 of the August 1943 Survey
for 1941-42 revisions for feeder shipments of sheep and lambs and p. 24 of June 1947 issue for 1940-45 revisions for egg production.
JData include Army civilian supply exports (see note marked " § " on p. S-20).
SURVEY OF CURRENT BUSINESS
S-30
Unless otherwise stated, statistics through
1941 and descriptive notes may be found
in the 1942 Supplement to the Survey
June
July
August
1947
September
August 194S
1948
October
November
December
January
February
March
April
May
June
FOODSTUFFS AND TOBACCO—Continued
MISCELLANEOUS FOOD PRODUCTS—Con.
Sugar—Continued
United States—Continued
Exports, refined sugar §cf
- short tons
Imports: §
. do.-..
Raw sugar, total
do
From Cuba
Refined sugar, total
do
do
From Cuba
Receipts from Hawaii and Puerto Rico:
Raw
do
do
Refined
Price, refined, granulated, New York:
Retail %
-dol. per lb._
Wholesale
°*o
Tea, imports§
_.thous. oflb..
TOBACCO
Leaf:
Exports, incl. scrap and stems §c? . thous. of lb_.
do
Tmnorts incl scran and stems §
"Prnrinotion (rron estimate*)
mil oflb
Stocks, dealers and manufacturers, total,
do
Domestic:
do
do
Fire-cured and dark air-cured.
do
Flue-cured and light air-cured.
doMiscellaneous domestic
Foreign grown:
do
do
Manufactured products:
Consumption (withdrawals):
Cigarettes (small):
millions..
Tax-free*
-do..Tax-paid
.thousands..
Cigars flarce") tax-paid
Manufactured tobacco and snuff, tax-paid
thous. of lb_.
Price, wholesale (list price, composite):
flol. per thous.Cigarettes, f.o.b., destination
Production, manufactured tobacco total
t h o u s . of l b . _
do
—,.
, , .
do
Plug
RfTflD o h e w i n s
Snuff
Twist
do
do
_ . do
do
16,730
29,602
18,451
8,222
15,191
8,914
20,151
4,237
5,544
9,305
3,936
4,120
360, 344
360,344
61,226
61,226
388.185
388,184
34,940
34, 940
346, 484
346, 484
33, 889
33, 889
257,629
257,626
13,009
13,009
275, 544
275, 543
23,477
23,477
283,839
282,514
7,204
7,204
384,959
341, 283
7,497
7,497
60, 784
33,910
2,844
2,083
274,977
251,187
26, 709
24, 782
384, 684
363, 978
26,295
25, 711
210, 620
204, 965
51, 232
49, 787
259,755
228,443
30,470
30, 216
234, 111
3,162
180, C95
16,655
222,067
10, 227
214,590
4,750
169,957
6,550
77,752
2,000
33,106
3,000
27,308
4,628
63, 903
6,473
92,002
25,866
a
60,990
« 21,800
.096
.081
4,826
.095
.081
3,438
.095
.082
1,275
.098
.082
4,597
.097
.082
5,487
.098
.082
6,665
.098
.082
5,429
.098
.080
7,863
.093
.077
7,105
.093
.076
6,491
.093
.076
12,079
.092
.075
8,698
39,156
5,624
30,396
5, 592
28, 724
5,258
47,802
5,864
59, 406
6,720
40,905
5,808
46,014
4,007
i 2,108
23,601
7,713
33, 601
5,725
19,194
7,153
27, 786
7,075
34,744
6,720
° 88,014
14,986
a
.091
.074
21,757
3,187
3 334
3,800
3,812
370
243
2,413
3
338
216
2,633
3
318
210
3,114
3
351
287
3,015
3
36
122
34
110
32
123
30
127
2,269
29,097
432, 527
2,333
29, 549
439,108
2,528
29,060
466, 511
2,706
29, 204
483, 288
3, 527
33,237
587,880
2,536
27,333
495,401
2,997
24,799
446,719
3,213
27,278
461, 398
3, 578
23,349
460,141
3,197
29,154
470,099
2,422
32,036
449,504
2,363
28, 498
344, 491
3,250
31,701
479,949
18, 792
2,294
21,008
1,619
22,184
1,685
24,706
1,937
25,909
2,107
18,144
1,860
15,683
2,140
19,587
2,000
18,071
2,365
20, 222
2,349
21,821
1,417
19,024
1,448
20, 280
6. 509
6.509*
6.509
6.509
6.509
6.509
6.509
6.509
6.509
6.509
6.509
6.509
6.509
18,357
326
3,001
3,211
8,500
3,007
312
21, 266
303
4,756
3,467
9,345
2,968
427
22,629
306
5,002
3,661
U, 881
3,341
440
24,233
332
4,892
3,975
10,849
3,719
466
26,251
366
5,143
4,426
11.683
4,101
533
18,816
298
3,868
3,465
7,888
2,883
414
17, 283
330
3,221
3,200
6,998
3,130
404
19,232
363
3,516
3,383
8,017
3,489
464
18, 549
334
3,522
3,183
7,791
3,265
454
21,055
322
3,910
3,560
8,910
3,879
473
21,340
220
4,200
3,377
9,693
3,390
462
LEATHER AND PRODUCTS
HIDES AND SKINS
Livestock slaughter (see p. S-28).
Imports, total hides and skins§
thous. of lb_. 11,991
27
Calf and kip skins
thous. of pieces..
30
Cattle hides
- do
Goatskins
_
do_ ._ 4,283
1,386
Sheep and lamb skins
do
Prices, wholesale (Chicago):
.231
Hides, packers', heavy, native steers..dol. per lb._
.638
Calfskins nackers' 8 to 151b
do
LEATHER
Exports :§
Sole leather:
169
Bends, backs and sides
-thous. of lb_.
73
Offal, including belting offal
_.do_ __
3,183
Upper leather
.
thous. of sq. ft..
Production:
1,049
Calf and kip
thous. of skins
2,243
Cattle hide
thous. of hides
3,273
Goat and kid
thous. of skins
2,472
Sheep and lamb
. do
Prices, wholesale:
.593
Sole, oak, bendsf
dol. per lb__
Chrome, calf, B grade, black, composite
1.069
dol. per sq. ft..
17,490
23
38
3,421
5,410
8,523
28
42
3,076
3,806
8,950
94
29
2,686
946
13,527
79
142
2,933
1,304
18, 561
82
186
3,573
2,872
31,447
102
453
3,649
1,203
58,027
310
850
3,640
2,709
26,215
98
187
5,835
2,342
21, 242
76
274
4,226
2,246
17,266
86
113
3,510
2,128
17, 878
54
147
2,928
1,404
.262
.660
.295
.619
.301
.625
.343
.669
.375
.756
.359
.745
.308
.650
.257
.415
.222
.351
.248
.392
.272
.472
29
201
2,722
144
245
2,954
135
129
2,674
244
235
3,285
116
95
2,943
52
53
1,970
43
60
2,086
32
116
2,180
19
72
1,789
25
118
2,019
61
126
2,289
887
2,131
3,297
2,486
1,069
2,269
2,985
3,169
1,106
2,310
3,363
3,501
1,125
2,638
3,775
3,647
899
2,371
2,878
3,094
937
2,418
3,319
3,001
912
2,405
3,407
2,782
834
2,330
3,188
2,934
836
2,175
3, 408
2,700
812
2,124
3 046
2,829
.602
.637
1.214
1.218
3
r
818
2, 258
3,540
2,892
r
r
.274
.435
.662
.750
.808
.813
.784
.742
.653
.632
.676
.672
1.203
31.246
31.324
31.324
31.272
31.165
3 1.042
3 1.048
3 1.055
31.030
LEATHER MANUFACTURES
Gloves and mittens, production, total*
thous. doz. pairs..
Dress and semi dress, total
do
Leather
__
_ _ _ _ _ _ do_ _
Leather and fabric combination. _ _ _ _-do
Fabric
do
Work, total __
do___
Leather
_ _ _ _ _ do
Leather and fabric combination
do
Fabric
do
r
3
2,089
504
89
4
412
1,585
103
206
1,276
6,392
1,557
334
26
1,197
4,835
273
633
3,930 1
7,428
1,676
368
21
1,287
5,752
294
761
4,697
v 7 212
*> 1, 453
P277
P22
1,154
v 5 760
v 277
*>754
v 4, 728
P
Revised. ? Preliminary. 1 December 1 estimate. 2 July 1 estimate. ° Data for Puerto Rico; data for Hawaii not available.
Comparability of the data is affected beginning September 1947 by a change in grade for one reporting firm; September 1947 figure comparable with earlier data $1,223.
t See note in March 1947 Survey with regard to a change in the series in January 1946.
§Data continue series published in the 1942 Supplement but suspended during the war period; data for October 1941-February 1945 will be published later.
* New series. For source and a description of the series for tax-free withdrawals of cigarettes and data beginning July 1943, see p. S-29 of the March 1947 Survey. The series for gloves and
mittens were first included in the May 1946 Survey; see note in that issue; data are collected quarterly only beginning the third quarter of 1947 (figures in the September and December 1947
and March 1948 columns are totals for the quarters).
t Revised series. The price for sole oak leather beginning in the October 1947 Survey is for packers', steers bends, union trim tannery run, vegetable tanning; earlier data will be shownlater.
Army civilian supply exports (see note marked "§" on p. S-20).
cf Revised to include
in
SUEVEY OF CUKEENT BUSINESS
August 1948
Unless otherwise stated, statistics through
1941 and descriptive notes may be found
in the 1942 Supplement to the Survey
S-31
1948
1947
July
June
August
September
October
November
December
January
February
May
April
March
June
LEATHER AND PRODUCTS—Continued
LEATHER MANUFACTURES—Continued
Shoes and slippers:
Exports!
-_.
thous. of pairs.
Prices, wholesale, factory:©*
Men's black calf oxford
dol. per pair.
Women's plain black kid blucher
do...
Production, totalf...
thous. of pairs.
Shoes, sandals, and play shoes except athletic,
total
thous. of pairs.
By type of uppers:
All leather
_do
Part leather and nonleather
do...
Bykinds:f
Men's
do
Youths' and boys'
do...
Women's
do
Misses' and children's
do
Infants' and babies'
do...
Slippers for housewear.do
Athletic
do_._
Other footwear
do
414
429
409
358
505
430
486
398
519
450
565
510
6.00
4.90
34,131
6.30
4.60
33,870
6.50
4.90
38, 982
6.50
4.90
40,826
6.63
4.90
46, 765
6.75
4.90
37,982
7.15
4.90
39,849
7.15
5.70
40,731
7.15
5.70
40,290
7.15
5.70
44,852
7.01
5.56
39, 412
6.60
5.15
33,980
31, 343
30,875
34, 735
36,035
40,098
32, 561
35, 794
37,899
37,346
41, 502
29,805
1,532
29, 728
1,091
33,454
1,174
34,767
1,331
38, 730
1,374
31,294
1,185
34,471
1,331
36,118
1,816
35,130
2,126
38,972
2,603
8,297
1,495
15,069
4,041
2,441
2,272
301
215
8,053
1,521
14, 768
3,985
2,548
2,512
308
175
8,449
1,607
17,548
4,271
2,860
3,676
363
208
8,812
1,587
18,053
4,511
3,072
4,186
395
210
10,350
1,815
19,242
5,277
3,414
5,636
482
239
8,192
1,526
15,328
4,541
2,974
4,894
351
. 176
9,306
1,556
16,693
5,004
3, 235
3,539
349
167
9,264
1,397
18,483
5,350
3,405
2,349
304
179
9,088
1,223
18, 371
5,277
3,387
2,464
298
182
9,951
1,284
20. 372
6,044
3,851
2,801
365
184
r
r
36, 306
30,890
34, 292
2,319
28, 473
2,417
r
9, 273
1, 257
16,871
r
5, 385
r
3, 520
' 2, 592
r
337
r177
7,790
1, 254
14, 296
4,540
r
3,010
2,671
r
259
r
160
65,453
10,331
46, 276
139,146
r
r
r
6.60
5.15
r
LUMBER AND MANUFACTURES
LUMBER—ALL TYPES
131, 795
21,339
86, 568
60,598
131, 226
20,480
86,605
73,073
156,607
22,692
97, 447
96, 768
125,140
16, 854
88, 788
118,356
102, 569
15,018
71,930
148,984
109, 799
22,337
71,538
128,161
72,913
14, 068
51,172
173,460
73,414
15,432
50,158
129,394
57,359
11,840
37,974
142,761
75,102
11,390
55,022
181, 504
56,858
8,323
41, 669
145, 949
3,139
700
2,439
2,803
596
2,207
5,743
2,085
3,658
3,284
746
2,538
2.897
660
2, 237
5,961
2,171
3,790
3,279
796
2,483
3,269
776
2,493
6,048
2,191
3,857
3,256
767
2,489
3,318
741
2,577
6,078
2,217
3,861
3,325
773
2, 552
3,360
802
2,558
6,040
2,188
3,852
2,917
726
2,191
3,164
779
2,385
5,801
2,135
3,666
2,763
650
2,113
2,844
641
2,203
5,557
2,018
3,539
2,719
682
2,037
2,788
672
2,116
5,739
2,140
3,599
2,480
631
1,849
2,623
697
1,926
5,601
2,074
3,527
3,022
714
2,308
3,020
749
2,271
5,604
2,040
3,564
3,035
703
2,332
2,997
738
2,259
5,773
2,008
3,765
752
2,325
5,805
1,931
3,874
3,269
753
2,516
3,125
714
2,411
5,942
1,969
3,97a
_M bd. ft.
do
do.
do.
do.
5,900
11,375
5,125
4,875
1,775
6,250
12, 225
5,575
5, 275
2,050
6,500
13,325
5,550
5, 575
1,950
6,075
13,875
5,825
5,475
2,425
7,150
14,475
7,150
6,500
3,000
6,050
14,650
5,550
5,725
2,675
5,975
14, 775
6,150
5,300
3,450
7,575
15,800
6,300
6,600
3,250
6,600
16, 575
6,250
5,925
3,550
7,175
17,350
6,525
6,575
3,650
6,175
17, 575
6,800
6,225
4,275
5,950
17, 225
6,200
5,925
4,475
6,175.
15,975
7,350
6,750
4,925
...do.
do.
do.
do.
do.
48,444
44,340
46,985
45,435
8,797
59, 663
58, 439
55, 629
53, 579
9,370
57,678
58,064
57,996
58,126
8,314
53,535
60,195
62,696
60,800
8,045
61, 549
57,626
47,646
52, 751
56,667
55, 784
10, 704
49,397
51,135
57,886
51,013
16,086
62,057
54,456
61,152
61,894
14,605
56,814
58,129
57, 955
57, 078
15, 482
59,988
55,320
64, 991
62, 797
15,626
64, 784
59, 397
67, 541
65, 226
17, 941
60,293
60, 819
65,616
63,449
19, 654
65, 579
(2)
70,213
69,007
(2)
Exports, total sawmill products §
M bd. ft.
Sawed timber§___
do__.
Boards, planks, scantlings, etc.§__
do__.
Imports, total sawmill products!
do
National Lumber Manufacturers Association:!
Production, total
_
___mil. bd. ft.
Hardwoods
do___
Softwoods
do...
Shipments, total
_._
do__.
Hardwoods
_._
do...
Softwoods
do...
Stocks, gross, end of month, total__
do...
Hardwoods
do__.
Softwoods.
_
do...
674
2,415
3,077
HARDWOOD 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..
_
_
66,697
10, 971
SOFTWOODS
Douglas fir:
74,432
74,521
67,128
61,332
54,651
Exports, total sawmill products§
do
68,225
47,408
48,875
45,946
31,107
32,893
33,451
19, 727
13,149
14, 578
17,190
16,583
Sawed timber§
_._do
20, 776
10,262
14,015
13,398
7,042
10,403
7,297
54,
705
41,
502
59,943
49,938
44,749
47,449
Boards, planks, scantlings, etc.§
do
37,146
34,860
32,548
24,065
22,490
26,154
Prices, wholesale:
Dimension, No. 1, common, 2" x 4" x 16'
62.865
67.815
64.845
62.865
67.815
dol. per M bd.ft..
67.815
64.350
67.815
70.587
70.042
64. 350
74.250
75.240
Flooring, B and better, F . G., 1" x 4", R.
95.040 101.970 104.940 111. 870
111. 870
L
...dol. per M bd. ft111. 870
116.820 110.880
104. 940 104. 940 116.078 127. 215 132.462
Southern pine:
16,534
21,883
12, 753
Exports, total sawmill products§
M bd. ft.. 22, 591
8,920
7,209
7,738
8,715
6,527
8,620
7,585
10,903
2,214
1,952
3,444
1,472
1,656
Sawed timber§
___
do
783
1,147
953
1,435
1,402
1,392
2, 852
14, 320
19,931
19,147
11,097
Boards, planks, scantlings, etc.§
do
7,448
6,955
7,473
6,256
7,280
5,125
6,193
8,051
962
834
857
860
690
Orders, newt
mil. bd. ft_.
781
778
775
693
797
579
790
570
494
573
626
501
Orders, unfilled, end of monthf--.
___do
447
508
545
574
522
474
Prices, wholesale, composite:
Boards, No. 2 common, 1" x 6" or 8" x 12'f
67.978
73.311
71.127
74.521
dol. per M bd. ft.
78.316
62.656
63. 462
78. 594
77.461
77.007
77. 728
73. 204
75.325
Flooring, B and better, F. G., 1" x 4" x 12-14'!
141.139
149.273 150.326
dol. per M bd.ft.. 132.148 130.910 134.279 138.150
146.731
150. 326 152.019 152.164 152.164 151. 539
861
878
876
833
799
Production!
mil. bd. ft..
755
676
827
708
581
860
894
885
910
886
789
913
Shipments!
do
721
872
789
734
724
631
805
797
808
1,451
1,500
1,341
Stocks, end of monthf__
___dol___
1,508
1,296
1,289
1,317
1,378
1,301
1,251
1,441
1,518
1,352
Western pine:
650
599
618
573
594
1504
534
Orders, new!
do
441
553
587
587
500
682
1
544
490
415
568
Orders, unfilled, end of month!
do
604
526
648
561
595
576
654
685
702
Price, wholesale, Ponderosa, boards, No. 3 com56.23
55.23
mon, 1" x 8"
dol. per M bd. ft__
59.01
54.36
63.22
61.23
61.68
66.16
64. 45
63.55
66.36
67.66
68. 23
718
711
680
671
514
676
517
467
1388
Production!
___mil. bd. ft..
384
515
588
721
645
614
621
569
561
629
481
1469
567
Shipments!
do
426
493
557
666
1,264
Stocks, end of month!
do
1,311
1 1,136
1,205
1,264
1,132
1,035
1,080
1,217
1,094
1,102
1,131
1,186
West coast woods:
605
632
531
694
Orders, new!
do
730
572
708
622
687
1769
660
575
1
852
845
689
801
Orders, unfilled, end of month
do
804
659
721
616
695
675
742
754
745
635
593
622
689
678
Production!
do
575
709
715
670
630
572
!633
577
455
632
571
Shipments!
do
765
695
626
795
711
649
634
618
591
1654
545
583
534
Stocks, end of month!
do
599
442
501
579
462
482
550
530
477
1590
' Revised, i See note marked " ! " . §Data continue series published in the 1942 Supplement but suspended during the war period. 2 Not available.
^Data include Government shoes not reported separately; the classifications by kinds were revised in the October 1947 Survey to include all types (leather, part leather, and nonleather
uppers); revised data beginning 1944 for these series and additional revisions indicated in note in the September 1947 Survey will be published later. The totals for shoes, sandals, etc., and
the distribution by kinds include, beginning May 1947, small amounts that cannot be distributed to the all leather and part leather and nonleather classifications.
outhern pine price series. Data beginning
. .
. . . . . . . ...
—x.
______
/,—*prior to the March 1948 Survey,have been
revised to adjust the monthly series to Census annual production figures for 1946, and there have been unpublished revisions in the earlier data for the lumber series as indicated in notes in the
July 1947 and April 1946 issues; all revisions will be shown later; the revised 1946 and 1947figuresfor total lumber production superseding figures in the table on the back cover of the February
1948 Survey are 34,936 and 36,635 million board feet, respectively. Data beginning January 1948 for Western pine series have been revised to include pine only in 2 Oregon counties. Data for
other lumber in these counties are included infiguresfor west coast woods beginning April 1948; earlier revisions for this region are not yet available.
SURVEY OF CURRENT BUSINESS
S-32
Unless otherwise stated, statistics through
1941 and descriptive notes may be found
in the 1942 Supplement to the Survey
August 1948
1947
June
August
July
September
1948
November
October
December
January
February
March
April
May
June
LUMBER AND MANUFACTURES—Continued
SOFTWOOD PLYWOOD
Production*
thous. of sq. ft., H " equivalent..
Shipments*
do
Stocks, end of month*
do
140,147
142,817
31, 345
107, 588
102,042
36,332
139, 398
137, 689
37,036
147,823
146,993
38,070
170, 769
162,059
43,973
145, 370
149,197
40, 524
150,853
159,005
31,509
159,395
153,017
37,755
156,666
155, 878
39,323
185, 716
184,443
39,879
164, 862
162,975
40,435
•151,364
'150,924
' 40,778
401,626
19,675
27,982
11,509
150,187
149, 742
41,425
METALS AND MANUFACTURES
IRON AND STEEL
Foreign trade :§
Tron and steel products (excl. advanced mfrs.):
Exports (domestic), total
short, tons
do
Scrap
Imports total
do
do
Scrap
630,731
29,579
19,400
3,410
571, 777
20,528
21, 733
2,426
568,879
10, 717
15, 269
3,917
579,191
15,053
14,953
1,828
650,980
27,094
13, 579
2,025
614,823
14,057
18, 408
6,884
630, 264
26,702
18,934
3,789
557, 452
14, 701
21,323
5,149
508, 598
21, 784
15,245
4,219
516, 777
22,011
45, 672
19, 973
468,180
28,986
48, 798
15, 803
5,184
2,560
2,624
4,067
1,303
2, 764
4,752
2,384
2,368
4,096
1,257
2,839
4,826
2,561
2,265
4,369
1,295
3,074
4,898
2,460
2,438
4,525
1,436
3,089
5,484
2,865
2,619
4,489
1,475
3,014
5,176
2,643
2,533
4,449
1,442
3,007
5,306
2,722
2,584
4,316
1,416
2,901
5,294
2,789
2,505
3,976
1,284
2,692
5,082
2, 640
2,442
3, 936
1,196
2,740
5,875
2,890
2,985
4,064
1,161
2,903
5,217
2,445
2,772
4,571
1,196
3,375
11,643
12, 499
7, 582
13,127
14,069
6 608
12,819
13,533
5 895
11,336
11,865
5,367
10,108
10,780
4,695
6,043
6,306
4,432
2,972
1,879
5,528
2,757
1,496
6 790
2,686
1,481
8 009
3,019
1,707
9 186
8,687
9,485
8,388
11,845
12, 516
7,716
6,500
11,457
21, 746
19, 594
2,152
479
6,156
12,614
28, 440
25,677
2,764
576
6,638
12,122
33,896
30,397
3,499
597
6,492
10,685
38,370
34,065
4,305
580
7,151
9,785
41, 641
36, 852
4,789
573
7,068
5,877
43,010
38,195
4,816
451
6,970
537
36,095
31, 749
4,346
297
7,057
0
29,081
25, 205
3,877
337
6,441
0
22, 628
19, 412
3,216
269
6,634
0
16,022
13, 761
2,262
379
4,976
7,677
17,125
15,172
1,953
403
6,656
11, 609
22, 058
19,885
2,173
441
38
56
48
45
42
44
25
83
50
68
48
39
1,038
597
2,711
913
519
2,675
952
551
2,631
1,025
591
2,680
1,154
654
2,669
1,020
562
2,687
1,066
588
2,782
1,064
584
2,803
1,024
571
2,769
1,169
660
2,726
1,051
585
2,691
993
556
2,602
1,072
598
2,587
31,972
248, 798
78, 524
45,291
26, 591
234,656
64,162
40,733
33, 208
229, 708
62, 395
38,156
28,706
218,276
71,568
40,138
40,105
210, 675
83,976
47, 706
35,804
206,510
72,111
39,969
39, 940
202, 408
77, 757
44,042
49,159
205, 759
77, 744
45,808
46, 270
209, 447
75,194
42, 582
43,921
203, 351
86, 767
50,017
42,168
199, 578
80, 602
45,941
34,236
191, 553
76,079
42,261
35,320
178,760
81, 747
48,113
39.00
40.97
39.50
5,077
39.00
41.29
41.90
4,991
Iron and Steel Scrap
fjOnmTmntiOTI total*
thnn« nf clinrt trvns
Home scrap*
Purchased scrap*
Stocks, consumers', end of month, total*
Pome scrap*
Purchased scran*
Iron ore:
All districts:*
Production
Shipments
do
An
do
^°
do
Ore
thous. of long tons
do
do
Lake Superior district:
do
Consumption by furnaces
Shipments from upper lake ports.
__ do
Stocks end of month, total
do
.„
do—.
At furnaces
do
On Lake Erie docks
do
Imports §
Manganese ore, imports (man ganese content)!
thous. of long tons. .
6,577
11, 727
26,965
24,308
2,657
Pig Iron and Iron IV anufactures
Castings, gray iron:*
Shipments, total.
.thous. of short tons.
For sale
do
do .
Unfilled orders for sale.. _ .
Castings, malleable iron:d"
short tons
Orders new for sale
do. .
Orders, unfilled, for sale
do
Shipments total
do
For sale
Pig iron:
OonsTimDtion*
thous. of short tons.,
Prices, wholesale:
dol. per long ton
Basic (furnace)
do
Composite
_
Foundry, No. 2, f. o. b. Neville Island*..do
Production*
thous. of short tons
Stocks (consumers and suppliers'), end of month*
thous. of short tons.
4,842
4,507
4,850
4,745
5,254
4,912
5, 057
5,167
4, 762
5,049
3,958
33.00
33.81
33.50
4,810
34.20
35.08
34.70
4,585
36.00
37.21
36.50
4,917
36.00
37.21
36.50
4,801
36.00
37. ?8
36.50
5,228
36.00
37.32
36.50
5,015
36.20
37.53
36.50
5,177
38.88
40.28
39.50
5,128
39.00
40.63
39.50
4,780
39.00
40.63
39. 50
5,020
39.00
40.63
39.50
3,840
769
887
831
828
769
759
838
794
799
780
688
Steel, Crude and Sem [manufactures
Steel castings:!
141,068
148,124
150,305
148, 358
120,405
130,125
137,457
143,337
152,894
142,434
162,891
116, 956
139,031
Shipments, total
short tons
114, 896
110,970
108,282
97,143
102,913
111, 288
111,616
88,719
85,014
117, 794
125, 550
107, 762
103,888
For sale, total
do
34,919
25,835
30,452
35,129
36,079
22,584
39, 275
32,967
41, 876
41, 587
21,280
31,879
34,800
do
Railway specialties
.
Steel forgings, for sale:*
593, 660
618,155
585,818
593,838
628,123
617, 247
630,925
626,227
623,620
641,110
do . . 633,467
630, 860
640, 747
Orders, unfilled, total
517,307
513,980
492,808
495, 947
518, 261
529,817
526,392
494,933
509, 576
do
529, 237
525, 543
519, 760
523,319
Drop and upset
100,848
114,143
114,044
97, 713
98,905
99,835
93,010
101,108
115, 567
98,986
113,707
107, 541
111,510
Press and open hammer
do
114,314
116,
798
118,534
103,740
98,009
108,804
108, 546
123,830
92,
352
110,
446
131,111
119, 532
116, 676
Shipments, total
do
76,839
91, 228
69,639
79,651
86, 911
89, 677
79,219
70,316
80, 761
75, 983
95, 008
86, 592
83,366
Drop and*upset
do
26,901
32, 602
29,585
29, 685
28,857
34, 663
29,887
22,036
28,370
36,103
30, 084
32,563
36,166
Press and open hammer
do
Steel ingots and steel for casti]igs:
7,242
7,376
7,473
7,570
7,608
6,218
6,797
6,991
6,579
6,978
6,940
7,560
7,256
.thous. of short tons..
Production
95
98
85
94
93
80
95
95
97
90
91
94
93
Percent of capacity t
Prices, wholesale:
.0360
.0329
.0360
.0360
.0329
.0376
.0368
.0376
.0360
.0360
.0368
Composite, finished steel
dol. per lb_.
.0373
.0368
Steel billets, rerolling (Pittsburgh)
45.00
45.00
42.00
45.00
45.00
42.60
50.40
45.00
50.40
45.00
dol. per long ton..
47.70
50.40
50.40
.0280
.0280
.0250
.0280
.0280
.0256
Structural steel (Pittsburgh)
dol. per lb_.
1.0305
.0280
.0280
i . 0305
1.0300
».O293
1.0300
39.13
40.50
39.88
30.88
Steel scrap (Chicago)
dol. per long ton__
38.75
36.95
39.19
39.56
38.95
38.90
39.25
39.13
39.25
r
1
Revised.
Specifications for the series were revised in February 1948; however, the January 1948 price on both the new and old basis is $0.0280.
cf Since May 1944 the coverage of the malleable iron castings industry has been virtually complete; see note in the February 1947 Survey for further information.
§Data continue series shown in the 1942 Supplement but suspended during the war period (it should be noted that data for iron and steel are shown in long tons in that volume); data for
October 1941-September 1946 for total imports of iron and steel products and for October 1941-February 1945 for other series will be published later. The 1945-46 data for imports of iron and
steel products shown in the November 1947 Survey and earlier issues erroneously include ores and alloying metals other than ferroalloys.
JFor 1948, percent of capacity is calculated on annual capacity as of Jan. 1,1948, of 94,233,460 tons of steel; 1947 data are based on capacity as of Jan. 1,1947, 91,241,000 tons.
*New series. For data beginning September 1941 for softwood plywood see p. 16 of the September 1944 Survey. For description of the series on scrap iron and steel and 1939-40 data, see
note marked "*" on p. S-29 of the November 1942 Survey. The series for iron ore, all districts, are from the Department of the Interior, Bureau of Mines, and cover the entire industry, monthly
data beginning 1943 and earlier annual totals will be shown later. Data for 1943-45 for gray iron castings are shown on p. 24 of the January 1947 Survey. For pig iron consumption and stocks
for 1939-40 and a description of the series, see note marked "*" on p. S-29 of the November 1942 Survey. The series on pig iron production is approximately comparable with data in the 194S!
Supplement (data in that volume are in short tons instead of long tons as indicated); see p. S-30 of the May 1943 Survey for further information and data for 1941-42. The pig iron price series
replaces the Pittsburgh price shown in the Survey prior to the April 1943 issue. For 1945 data for steel forgings see note on p. S-32 of the March 1947 Survey; data for total shipments, including
shipments for own use, and steel consumed have been discontinued.
tRevised series. Data for steel castings are estimated industry totals; see note on p. S-32 of the July 1946 Survey for comparable figures beginning January 1945.
SURVEY OF CURRENT BUSINESS
August 1948
Unless otherwise stated, statistics through
1941 and descriptive notes may be found
in the 1942 Supplement to the Survey
S-33
1947
June
July
August
September
1948
October
November
December
January
February
March
April
May
June
11,104
2,242
2,244
20
METALS AND MANUFACTURES—Continued
IRON AND STEEL—Continued
Steel, Manufactured Products
Barrels and drums, steel, heavy types:®
Orders, unfilled, end of month
thousands..
Production
do—
Shipments
...do
Stocks, end of month
.__
__-do—
Boilers, steel, new orders:$
Area
_thous. of sq. ft_.
Quantity
...number..
Cans, metal (in terms of steel consumed):*
Shipments (for sale and own use), total
short tons..
Food
._.
do....
Nonfood
do—
Shipments for sale..
_
_
do—
Commercial closures, production*
.millions..
Crowns, production*
thousand gross..
Steel products, net shipments:©
Total
thous. of short tons..
Merchant bars
do—
Pipe and tubes
_
do—
Plates.
._
do.....
Rails
do....
Sheets..
...do...
Strip—Cold rolled...
do_...
Hot rolled...
do
Structural shapes, heavy...
do—
Tin plate and terneplate
..do
Wire and wire products..
do—
13,612
2,255
2,253
23
13,255
2,188
2,185
26
12,340
2,208
2,212
11,294
2,210
2,201
31
10,946
2,304
2,305
29
10,450
2,064
2,075
18
12, 461
2,385
21
12,191
2,236
2,239
18
11,889
2,100
2,098
20
11, 528
2,531
2,516
34
11,471
2,281
2,290
24
10,810
2,016
••2,019
22
1,904
1,345
1,620
1,563
1,434
1,452
1,245
1,417
1,167
1,331
1,202
1,176
1,388
1,276
1,109
1,103
1,532
1,219
1,677
1,287
1,608
1,340
1,623
1,736
232, 618
168,070
64, 548
193,281
756
24,261
309,629
235,476
74,153
275,541
691
27,377
387,784
314, 628
73,156
344,236
799
27,229
354,681
277,968
76, 713
310,937
867
30,019
279, 448
193, 638
85,810
240,670
963
32,869
213, 904
136, 427
77,477
182,342
750
30,872
253, 594
169,103
84. 491
222,797
829
28,430
216, 530
134,671
81,859
181,392
818
29,459
202, 537
125,782
76, 755
28,002
207,726
134,447
73, 279
169,018
1,012
32,454
' 208, 516
' 143,112
65,404
r
164, 565
980
29,356
219,356
158,200
61,156
174,830
888
28, 232
5,264
501
527
563
205
1,225
138
141
364
308
407
4,975
493
480
464
199
1,181
116
131
357
324
335
5,278
534
517
540
190
1,199
136
135
371
336
393
5,119
484
497
495
182
1,224
136
142
360
304
410
5,682
555
550
589
214
1,343
151
157
399
349
454
5,217
494
534
513
209
1,264
126
137
353
328
400
5,613
521
558
591
211
1,352
134
149
380
370
405
5,410
521
541
530
201
1,384
146
146
334
267
429
5,046
518
519
538
172
1,198
127
136
324
247
396
5,979
560
613
630
206
1,410
158
141
382
393
449
5,096
481
518
528
145
1,310
148
132
302
310
395
5,321
484
547
563
179
1,314
142
127
362
322
409
284
207
76,
238
036
224
812
098
915
29 400
5,477
525
565
592
189
1 302
152
139
372
334
429
NONFERROUS METALS AND PRODUCTS
Aluminum:
164,098
181,999
163,480 118,658 134,148 133,995 217,602 153,706 217,907 ' 166,961 244,852
Imports, bauxite§.
_.
long tons.. 173, 706
Price, wholesale, scrap castings (N. Y.)
.0725
.0600
.0444
.0725
.0440
.0625
.0617
.0741
.0670
.0625
.0711
.0815
dol. per lb_.
.0884
Aluminum fabricated products, shipments, total*
121.7
132.2
124.8
167.8
187.1
200.9
173.9
175.6
155.1
177.2
177.5
167.2
mil.of lb__
177.6
30.2
30.4
33.0
34.7
40.5
38.0
35.9
37.5
38.3
41.8
37.9
33.9
35.8
Castings*
_
do
91.4
91.9
136.0
133.2
146.9
101.8
159.1
138.1
119.3
139.0
139.6
133.3
141.8
Wrought products, total*
do
72.1
105.7
70.5
108.0
120.4
82.5
110.3
106.7
126.7
109.7
98.1
101.9
Plate, sheet, and strip*
.
do
106.9
.296
.302
.300
.296
.296
.296
.302
.296
.302
.296
.296
.302
Brass sheets, wholesale price, mill
dol. per lb_.
.304
Copper:
14, 569
21,606
17, 254
22, 497
19,295
23, 272
15,043
18,013
18, 299
18, 297
18,337
Exports, refined and manufactures§_- short tons_.
19, 861
37, 524
44,185
44,045
52, 527
36,902
46,638
54, 513
30,435
41, 596
37, 727
46,982
Imports, total§
do
33, 271
2,492
3,519
5,286
4,115
4,864
2,825
783
0
3,338
0
1,251
For smelting, refining, and export§
do
0
41,693
34,005
38,759
48, 412
32,038
36,944
46,982
43,813
38, 258
53, 262
30, 435
For domestic consumption, total§
do
33, 271
24,679
18,796
18,515
32,993
21,694
26; 620
22,346
29,612
17,980
26,009
13, 041
Unrefined, including scrap§
do
15,673
17,014
15, 209
20,244
15, 419
10, 344
11,638
23, 650
21,467
17, 394
18,964
20,973
Refined§
---do
17, 598
.2123
.2123
.2135
.2120
.2121
.2120
.2123
.2120
.2120
.2120
.2120
Price, wholesale, electrolytic (N. Y.)—dol. per lb__
.2120
.2120
Production:^
Mine or smelter (including custom intake)
83,301
72,534
76,815
79,152
82,334
88, 741
83,909
83,922
82,959
82,427
80,954
short tons__
'91,019
87,432
88,122
97, 525 108,816 102,314
94,610
103,474
93,588 110,886
92,146 108,277
104, 044
Refinery
do
104, 524 105, 221
96,374
109,822
116,678
95, 640 112,310 106,232 113, 446 118, 855 106, 823 122,988
116, 475
Deliveries, refined, domesticcf.
.__do
113,389 111, 927
77,212
70,146
66,622
77,773
82,542
74, 507
80,113
76,035
71, 533
Stocks, refined, end of month©"
.do
67, 257
68, 582
72,791
73,065
Lead:
21,099
14,132
13,030
23,058
27, 416
14, 261
21, 749
15, 784
20,873
26, 718
23, 706
Imports, total, except mfrs. (lead content) §.do
18, 627
Ore (lead content):
r
30, 597
29,106
32,452
32,512
30,618
35, 802
30,647
32,407
35, 512
30, 567
Mine production*.,
do_._
33, 306
33, 652
31,877
32, 271
33,688
31, 600
32, 414
33,780
32,081
32,019
34, 797
Receipts by smelters, domestic ore:cf
do
35,362
34,185
37, 625
34,689
Refined:
Price, wholesale, pig, desilverized (New York)
.1500
.1500
.1500
.1500
.1500
.1500
.1500
. 1721
.1500
.1500
dol. per lb_.
.1500
.1750
.1750
46,012
46,409
45,235
51, 481
50,248
46,827
43, 598
50,821
49,337
Production, totalcf
..short tons._
49,652
60,093
50,626
47, 227
42,
536
43,725
41,505
47,903
43,545
46,919
40,400
45,538
47, 421
Primary f
do
46, 577
46, 579
47,144
44,846
51,989
55,034
46,646
54,627
43,483
56,247
52,354
47, 200
51, 958
52,287
45,031
Shipments cT
do
47,652
46,398
24,809
31,290
31,048
34,385
37,836
21.787
28,370
17,034
20,645
Stocks, end of months
do
22,418
14,837
19,453
23,240
Tin:
Im ports :§
694
2,596
1,745
8,350
1,439
3,595
2,137
2,201
2,666
1,335
Ore (tin content)
.._ long tons.
443
3,406
2,105
3,429
2,443
1,539
2,294
3,318
4,653
4,855
6,470
6,026
Bars, blocks, pigs, etc
do
.8000
.8000
.8000
.8000
.8000
.9400
.9400
Price, wholesale, Straits (N. Y.).—dol. per lb..__
.9400
1.0300
.9400
.9400
Zinc:
41,030
29, 364
31,601
33,645
19,140
22,061
Imports, total (zinc content)§
short tons..
21,663
33,415
21,097
22,617
12,660
24,696
11, 534
9,025
562
For smelting, refining, and export§
do
121
5,659
1,510
10,392
2,070
5,717
6,240
5,962
For domestic consumption^
26,406
15,228
17,842
27,295
14, 953
9,160
Ore (zinc content)
do
7,958
12,939
4,498
10,487
10,580
11,209
5,699
4,839
3,092
4,321
5,788
Blocks, pigs, etc
do
4,581
10,084
5,797
7,525
9,106
10,882
48,332
47, 700
60,879
46,526
50,296
Mine production of recoverable zinc*
do
46,817
48,124
47,790
47, 612
54,545
«• 53,042
51,422
Slab zinc:
Price, wholesale, prime Western (St. Louis)
.1050
.1050
.1050
.1050
.1050
dol. per lb_.
.1050
.1050
.1200
.1108
.1200
.1200
.1200
.1200
70, 990
69,128
66,852
69,682
71, 745
67,867
Productionc?
short tons..
70,996
67,917
72, 776
68,372
74,322
71,500
73,885
63,
527
59,
737
89,314
Sbipmentscf
.do
79, 789
92, 549 129,046
72,151
74,697
86,000
69,345
77,334
73,915
72,848
52,390
44,801
57,564
59,154
52,122
50, 558
Domesticd*
do
61,258
63,592
66,174
61,138
67,291
65,334
64,801
174,327
79,273
183, 718
69,166
161,256 136, 574
Stocks, end of monthcf _.
do
68,011
48,643
55,423
43,280
44,253
43, 216
45,631
r
Revised. <g> Beginning 1943, data have covered the entire industry.
Jit is believed that data beginning 1945 represent substantially the entire industry; in prewar years the coverage was about 90 percent.
©Total shipments less shipments to members of the industry for further conversion; data prior to 1944 were production for sale.
§Data continue series published in the 1942 Supplement but suspended during the war period; data for October 1941-February 1945 will be published later. The data shown above for
total imports of zinc and imports of zinc ore, and data beginning March 1945 shown in previous issues, have been revised to correct an error.
©"Beginning January 1947 data for copper include copper from all sources; data prioi to 1947 published in earlier issues relate to domestic and duty-free foreign copper; stock figure for January
1947, comparable with later data, is 104,704 tons; the November 1947 Survey provides January-March 1947 figures for production, deliveries, and stocks comparable with earlier data; deliveries
include deliveries of Office of Metal Reserve copper for domestic consumption; stocks of Office of Metal Reserve copper are not included in the stock figures. For data for January 1942-April
1944 for these series, and also for the indicated lead and zinc series, see P. 24 of the June 1944 Survey. Total shipments of zinc include for August-November 1947shipments for Government
account in addition to shipments to domestic consumers and export and drawback shipn
pmenta.
*New series. See note marked " * " on p. S-33 of the February. 1947
descripi
- . Survey
vey for description
of the data on aluminum fabricated products and reference to 1945 figures for the total; data prior
to 1946 for the detail will be published later. Data for closures, crowns, and metal cans are compiled by the Bureau of the Census and cover all producers; for data for 1943 to 1945 for metal cans
see p. 24 of the December 1947 Survey. Data prior to 1946 for closures and crowns will be shown later. Data for mine production of lead and zinc are from the Department of the Interior
Bureau of Mines, and are practically complete; monthly figures beginning July 1941 and earlier annual totals will be shown later.
tRevised series. Data shown above and data from the beginning of 1946 in earlier issues include production from both domestic and foreign ore; the 1946-47 data are incorrectly shown in
the October 1947 and earlier issues as production from domestic ore which is no longer reported separately. Some secondary material is included insofar as it enters into base bullion and loses
its identity.
SURVEY OF CURRENT BUSINESS
S-34
Unless otherwise stated, statistics through
1941 and descriptive notes may be found
in the 1942 Supplement to the Survey
August 1948
1947
June
July
August
September
1948
October
November
December
January
February
March
April
May
June
METALS AND MANUFACTURES—Continued
HEATING APPARATUS, EXCEPT ELECTRIC
•Boilers, radiators and convectors, cast iron:§
Boilers (round and square):
Production
thous. of lb_.
Shipments
do
Stocks, end of month...
_-.
do
Radiation:
Production.
thous. of sq. ft..
Shipments
do
Stocks..
_
.do....
"Boilers, range, shipments*-.
number..
(Oil burners:*
Orders, new, net
_
do
Orders, unfilled, end of month
.do
Shipments
do
Stocks, end of month
do
'Stoves and ranges, domestic cooking, exc. electric:*
Production, total
number..
Coal and wood...
do
Gas (incl. bungalow and combination)__.do
Kerosene, gasoline, and fuel oil
do
Stoves, domestic heating, production, total*__do
Coal and wood*
do
Gas*
do
Kerosene, gasoline, and fuel oil*
do
Warm-air furnaces (forced air and gravity air flow)
shipments, total*
number..
Gas*
do
Oil*_...
,
do....
Solid fuel*
do.._.
Water heaters, nonelectric, shipments*
do
25,838
26,342
50, 824
20,506
21,045
50,285
25,175
28,469
46,991
29,080
30,464
45,607
33,328
37,194
41, 740
29,381
31,372
39, 749
28,583
28,583
39, 749
29,043
22,018
46, 774
29,483
18,660
57, 443
27,687
13,867
71,262
14,113
19,699
65,676
22, 745
19,752
25,941
15,779
78,831
4,472
4,698
2,909
55,220
4,302
4,032
3,179
48,454
4,073
4,540
2,712
52, 967
4,749
4,786
2,675
61,986
5,863
5,980
2,558
56,357
5,217
5,247
2,528
46,011
5,201
5,388
2,341
42,884
5,376
5,181
2,536
51, 722
5,138
5,010
2,664
52, 592
5,890
5,485
3,069
58,908
4,740
4,794
3,015
r
52,045
5,172
5,123
3,064
41,110
5,243
5,228
3,079
35, 047
804,680
105,341
18,972
1,827
703,776
102, 731
22, 705
85, 561
666, 705
122,632
20,397
37, 582
576,326
127,961
20, 524
-4,421 i-58,225
443,457 304,310
80,922
128,448
25,561
20, 541
3,127
249,309
57,898
36,466
57,449
149, 929
41,859
50,070
9,727
134, 631
24,816
60,286
124,190
18,797
68,792
107, 694
22,846
77,807
10,188
91,834
26,058
76,005
27,479
90,113
29, 240
73,188
287,697
36,373
202,954
45, 370
456, 580
90, 728
185, 740
180,112
256,785
36,126
179,647
41,012
489,945
103,481
197, 921
188,543
259,863
36,945
186,231
36,687
576,819
109,050
232, 693
235,076
290, 760
35,631
213,436
41,693
725,215
142, 698
295,832
331, 756
34,603
256, 241
40, 912
834,866
169,442
341,498
323,926
285,127
31,323
215,849
37, 955
661, 592
124,375
304,379
232,838
283,682
30,635
210,620
42,427
596, 999
93, 618
288,024
215,357
313,959
31,999
227,602
54,358
413, 637
55,492
188,248
169,897
331,958
34,690
235,438
61,830
351,333
53, 734
156, 762
140,837
372,459 ' 342, 579
31,888
39, 580
264,943 • 253, 436
67,936
57, 255
369, 656 • 365,078
61, 406 " 66,195
155,828 156, 461
152, 422 142,422
54,985
56,498
9,569
21,757
25,172
197, 485
80,891
13, 563
32, 480
34,848
217,953
90,210
15, 214
34, 286
40, 710
210,360
108,419
19, 632
36, 739
52,048
229,307
72, 629
13, 522
27, 791
31,316
185,932
67, 567
15,306
28, 324
24,012
174, 704
46, 590
10,822
16,354
19,414
176, 736
36,345
9,313
7,645
19,387
159,007
39,297 ' 45, 597
55,473
9,890
12,454
13,617
8,105
' 9,931
11,261
21,302
23,212
30,595
173, 291 • 173, 438 161,177
25,128
20,188
192,372
1
6,110
r
r
330,757
26, 511
257,256
46, 990
388, 704
68, 545
183,946
136,213
MACHINERY AND APPARATUS
Blowers, fans and unit heaters:
Blowers and fans, new orders
thous. of dol_.
Unit heater group, new orders.
do
Foundry equipment:
New orders, net, total
1937-39=100__
New equipment
do
Repairs
.do
Machine tools, shipments*
._ 1945-47=1OO_.
Mechanical stokers, sales:*
Classes 1, 2, and 3
number..
Classes 4 and 5:
Number
Horsepower
Pumps and water systems, domestic, shipments:*
Domestic hand and windmill pumps...number..
Water systems, including pumps, total _ do _
Jet*....
do____
Nonjet*
do....
Pumps, steam, power, centrifugal and rotary, new
ordersj
thous. of dol_Scales and balances (except laboratory), shipments,
quarterly*...
thous. of dol_.
10,286
6,074
8,452
7,912
455.1
393.1
657.7
77.0
520.0
438.2
786.7
94.8
370.1
286.1
643.1
9,041
9,838
8,194
273
52, 523
51,603
649.9
658.9
620.7
84.1
458.7
426.1
565.3
65.2
468.9
411.3
656.8
5,851
7,092
380.9
367.3
326.2
412.0
84.7
521.1
467.8
694.6
98.4
75.3
87.1
83.6
82.0
3,728
2,492
2,685
4,316
5,090
230
50,946
39, 577
60,985
27, 922
33,063
168
64,870
249
78,197
43,490
61,005
27,326
33, 679
191
68,150
34, 524
58,192
26,466
31, 726
27, 676
62,252
30,048
32,204
3,480
3,819
3,635
4,703
270
63,168
81,269
97,752
345
80,640
24, 746
54,847
21,115
33, 732
23, 561
57,854
26,200
31, 654
21,089
61, 668
28,241
33, 427
26, 555
63,465
28,881
34, 584
»36,190
73,857
32,185
41, 672
30,183
57,302
25, 503
31, 799
2,999
3,148
3,843
3,355
3,475
2,673
11,938
11,628
6,467
10,985
9,677
11,638
13,126
388.5
r
376.3
82.6
»95.2
4,548
6,314
7,802
336
92,642
333
70,694
29,882
55,188
25,393
29, 795
313
74,488
26, 804
r
49, 743
r
23,137
r
26, 606
27, 398
56,672
28,490
28,182
4,312
3,724
3, 512
12, 628
ELECTRICAL EQUIPMENT
Battery shipments (automotive replacement only),
1,679
1,737
1,211
2,854
2,073
2,254
number*
thousands..
2,415
1,433
2,394
2,683
1,017
2,597
Domestic electrical appliances, shipments:
Vacuum cleaners, total*
number.. 343, 229 293,465 296, 570 347,601
327, 250 282,165 280,366 326,882 358, 546 350,470 373,254 304, 273 p 311,448 ' 355, 415 306, 588 r 276,657 256,071
Floor
.do
13, 243
12,880
18,971
17,333
Hand
do
314,
705 281,826 279, 229 354,094 397,113 365,579 351,152 358,445 360,029 398, 298 393,660 362,658 386,685
Washers*
_..do
Electrical products:f
352
324
350
320
381
Insulating materials, sales billed.
1936=100..
351
353
356
345
371
Motors and generators, new orders
do
295
392
394
Furnaces, electric, industrial, sales:
3,341
4,465
5,298
4,464
6,378
Unit
_
kilowatts..
2,692
4,487
3,344
26,435
4,083
4,328
5,22&
5,166
432
3C8
565
354
Value
thous. of dol._
776
1,831
677
550
350
310
436
528
538
4,002
4,150
3,619
Laminated fiber products, shipments
do
4,150
4,205
4,397
4,221
4,693
3,812
4,162
4,310
4,118
4,393
-Motors (1-200 h. p.):cf
32,668
32,451
30,280
Polyphase induction, billings
do
32,622
31,849
Polyphase induction, new orders
do
22,328
29,534
22,871
4,821
Direct current, billings
do
4, 935
5,834
5,059
5,155
Direct current, new orders.
...do
4,118
5,790
5,068
Rigid steel conduit and fittings, shipments!
20,821
19,745
22,218
23,638
25,319
short tons..
23,664
22,336
22,730
20,882
23,194
22,415
24,653
22,704
Vulcanized fiber:
6,124
4,582
Consumption of fiber paper
._.thous. of lb_.
4,771
4,820
5,442
5,107
4,852
5,065
4,532
5,200
5,317
4,043
4,925
1,625
Shipments.
---thous. of doL.
1,425
1,559
1,599
1,486
1,731
1,457
1,540
1,461
1,742
1,686
1,338
1,500
r
Revised. * Preliminary. ' Cancellations exceeded new orders. J Covers 33 companies beginning 1947; 31 companies were included for 1945 and 1946 and 27 for 1944.
§See p. 24 of the January 1947 Survey for available data for 1942-45 for cast-iron boilers and radiation; these series continue data published in the 1942 Supplement.
•See notes on the indicated items on p. S-33 or S-34 of the September 1947 Survey for source and coverage of data for vacuum cleaners and coverage of the data for oil burners, mechanical
•stokers, and pumps and water systems. Data for washers beginning January 1947 are estimated industry totals; see note in July 1947 Survey with regard to earlier data.
d*Begmning 1947 data for motors are collected quarterly and data shown are quarterly totals; the 1947 data for polyphase induction motors include 6-8 companies and for direct current
motors 2-4 companies which did not report prior to 1947; information regarding the effect of these additions on the comparability of the data is not available at present.
*New series. Data for range boilers, stoves and ranges, warm-air furnaces, water heaters, and scales and balances are compiled by the Bureau of the Census and are complete or practically complete; data for 1943^45 for domestic heating stoves are shown on p. 20 of the April 1947 Survey; data prior to 1946 for the other series will be shown later (data beginning March 194 4
for total shipments of warm-air furnaces are available in the May 1945 Survey). The index of machine tool shipments, compiled by the National Machine Tool Builders Association, was
substituted in the July 1948 Survey for estimated dollar shipments. For data beginning August 1942 for automotive replacement battery shipments, see p. S-31 of November 1943 Survey.
fRevised series. See note in February 1947 Survey regarding unpublished revisions in the indexes of new orders for motors and generators and sales of insulating materials; the index for
motors and generators is now computed on a quarterly basis and represents quarterly totals. Data on rigid steel conduit and fittings were revised in the July 1946 Survey (see note in that issue).
^ y u « » i v u u L u u , w i I±KJK;I.^ vxiiiiiivyxio/. jn.ug,moi/—i/cv/oiuuw into—o,uoi, o,iuo, »,*r^tf, »,uui, o,v'v\j, i»tu—»,voo, o,\)6o, \),ov(, \i,\jiv,
iu,uoo, y,zy/, o,'i'±y, y,yo/; y,oo/; i u , / i o ; i(j,udo; y,i'±4
January—July i y 4 / —
11,133; 10,028; 10,574; 10,799; 10,415; 9,518; 8,975. Average hours per spindle in place: August-December 1945-382; 366; 400; 380; 340; 1946—417; 376; 403; 404; 423; 390; 354; 418- 400" 448' 420' 382 •
January-July 1947—467; 420; 444; 452; 435; 399; 377. These series will be included on p. S-39 beginning in the September issue which will contain figures beginning July 1947.
SUKVEY OF CUKKENT BUSINESS
August 1948
Unless otherwise stated, statistics through
1941 and descriptive notes may be found
in the 1942 Supplement to the Survey
S-35
1947
June
July
August
September
1948
October
November
December
February
January
March
April
May
June
PAPER AND PRINTING
PULP WOOD AND WASTE PAPER
Pulpwood:*
1,734
1,589
1,605
1,744
1,675
1,634
Consumption
thous. of cords (128 cu. ft.).
1,762
1,589
1,559
1,778
1,850
1,679
1,766
r
1,813
Receipts
do
1,646
1,613
1,826
1,908
1,683
1,893
1,580
1,675
1,480
1,901
1,875
4,646
Stocks, end of month
do
4,736
4,790
4,698
4, 567
4,566
4,795
3,816
4,607
«=• 4, 4 2 1
4*437
4,161
4,516
Waste paper:*
674,747
684,375
Consumption
short tons.
704, 677 684, 277 1 655, 855 626, 764
635, 597
625, 971
638,318
648,768
607,061
618,324
650,690
687, 267 • 658,004 648, 996
614,143
735, 250
Receipts
-.-.
do
718,411
638, 505
633,122
643, 222
629,114
656,684
615,155
595,355
443, 742 ' 445, 216 462,170
458,366
512,880
462,248
Stocks
do—441, 335
514,039
521,019
467,651
481,911
482,392
429,676
WOOD PULP
Exports, all grades, total§
do...
13,358
7,951
7,244
11,807
4,906
11,109
16,090
11,603
9,326
10, 334
8,278
Imports, all grades, total§
do...
275,187
225,807
187, 293
215,851
208,180
195,884
186,631
227,246
205, 959
188,053
210,216
171,010
Bleached sulphate§
do...
20,133
28, 527
26, 250
19,886
22, 302
21,301
17,008
23,009
24,835
18,420
27, 089
Unbleached sulphate§
do__.
53,044
75,965
38,667
38, 625
45,033
36,470
37,060
46,816
48.938
42,907
26,148
31, 470
Bleached sulphite§
do...
48,678
53, 098
58, 216
36, 541
42, 375
53,458
44,037
45,672
40, 544
49,427
43, 502
50, 574
Unbleached sulphite§
do.-.
75,229
84,872
58, 770
64,078
56, 602
54, 996
89,065
89,143
66,043
51,410
53.939
66, 739
Soda§
do.-.
1,804
2,414
1,884
1,929
1,864
1,692
1, 719
1,959
2,293
1.674
2,075
1,795
Groundwood§
do.-.
30, 921
23,863
25, 267
25,123
27,373
26,993
27,004
24, 711
29,856
28, 292
17, 455
19, 548
Production:f
r992
Total, all grades..
thous. of short tons.
935
1,054
975
1,086
1,026
961
1,022
1,080
970
1,081
1,127
1,090
r
Bleached sulphate
short tons.
90,138
92,058
102,641
91,569
105,190
98,415
103, 347
92,335
102,841 • 107, 217 104, 287
93, 744
Unbleached sulphate
do.-. • 354,188 331,275 365,355
373, 277
332, 597
390,188
374,438
333,030
384,106 ' 412, 959 401, 306
321,089
356, 488
Bleached sulphite
do.-.
152,426
142,436
164, 244
155,379
168,923
161,922
172, 429
154, 960
161, 535 ' 162, 481 156,315
157,233
163,508
Unbleached sulphite
_*
do...
64,268
82, 206
78,176
80,127
76,291
'73,818
80,272
74, 753
76,564
76, 586
75, 857
77,186
73, 813
Soda
do...
38,345
43,933
41,668
42, 598
40,881
41,696
43,840
40,182
43,119
39,762
44, 385
42, 218
43, 576
Groundwood
do.-.
160, 507
161,067
161,047
170, 230
170,080
173,802
176, 593
161,635
184,129 ' 191,151
153,488
184, 744
168, 859
Defibrated, exploded, etc^f
do.-.
62,000
79, 051
69,718
81,388
64,664
79,974
69,080
81,521
75,000
66,877
81, 567
75,041
Stocks, end of monthif
Total, all grades:
do__.
96,601
103,598
99,834
94,121
91, 271
93,244
89, 211
109,968
96, 598 • 105, 018 102,419
94, 543
98,928
Bleached sulphate
do__.
7,108
7,320
5,259
6,316
6,464
6,089
4,439
5,508
7,127
8,737
7,665
7,558
Unbleached sulphate
do...
8,050
8,067
6,311
11, 786
9,815
12, 084
10', 032
10, 507
10, 553
8,309
9,637
11,551
13, 270
Bleached sulphite
do__.
31,604
27,475
23,952
28,933
37,308
22, 543
36, 547
30,288
22, 317
21,162
23, 219
30,525
42,846
Unbleached sulphite
do.-.
16,982
15,332
14,143
16,103
18,452
14, 652
14, 764
16,869
14, 566
16, 271
16,401
14,427
17, 716
Soda
do...
3,073
3,102
2,858
2,895
3,020
3,363
3,033
2,771
3,362
3,283
3,325
3,454
3,492
Groundwood
do...
31, 551
39,626
38,725
20,368
21,615
24, 776
18,193
23,660
32, 460
38,087
38, 325
21, 702
22,316
PAPER AND PAPER PRODUCTS
All paper and paperboard mills:*
Paper and paperboard production, total
thous. of short tons.
1,625
1,728
1,763
1,743
1,720
r 1, 908
1,777
1,701
1,833
1,930
1,908
Paper
do_-.
817
••882
892
894
873
960
877
937
958
953
Paperboard
do.-.
708
751
740
767
742
827
827
718
767
786
854
843
Building board
do.-_
101
109
95
105
105
115
••122
105
111
110
109
117
112
Paper excl. building paper, newsprint, and paperboard (American Paper and Pulp Association):!
Orders, new..
short tons.
664,872
687,500
702,200
795,400
714,929
731,808
751,536
792, 251 ' 749,143 <• 743, 949 734,095
694, 795
697,825
p
Production.
do_-.
653,710
719,979
714,440
779,406
733,484
702, 581
776, 549
719,036
732,765
776, 262 ' 777,144
782, 537
756,090
r
Shipments
do.-.
727,183
7] 1,061
648,003
772,645
728,969
693, £66
778,752
772, 672 ' 768, 590 737, 590
721,572
729,868
774,310
Fine paper:
r
91, 204
102, 765
98,017
Orders, new
do...
94,838
112,679
109,851
82, 720
107,673
89,977
94, 818 ' 87, 497
87, 910
Orders, unfilled, end of month
do_-_
149, 790
150, 260
143,020
136,927
122,825
138,850
112,523
121,422
125, 073 • 117, 807 r 97, 658
121,540
91, 250
Production
do.:.
101,311
90, 227
101, 775
103,610
111,114
107,304
103,495
101,954
105,927 • 104, 393 p 103, 520
97,654
101,320
Shipments
do.-_
100, 289
86,642
98,680
105, 582
111,732
95,773
108,870
101,168
104,313 • 103. 541 ' 104, 510
96,009
94, 235
Stocks, end of month
do_-_
53, 782
52,720
52,120
50, 530
51, 770
54,234
52,915
55, 237 r 56, 915 ' 55,020
54,385
53, 705
62, 330
Printing parer:
Orders, new
do
234, 580
249, 259
242, 080
277,581
249, 016
252,172
252, 829
280,132
238,218
278,425 • 255, 960 ' 264,433 265, 935
Orders, unfilled, end of month
do
266, 490
269,159
279, 900
269,004
263, 383
267, 430 254,943
254,602
256,187 ' 246,660 • 251, 510 256, 755
Price, wholesale, book paper, " B " grade, English finish, white, f. o. b. milL-dol. per 100 lb_10.24
10.55
10.80
10.05
10.80
10.80
10.80
10.80
10.80
10.80
10.80
10.80
10.80
Production
short tons_- 248, 796 236, 295 250, 563 245, 916 275, 837 257, 210 257,843 269,194 250,387 267,467 264, 706 • 269, 556 268, 820
253,331
236,838
Shipments
do
243, 496
275, 669
261, 724
257, 736
265, 557
251,898
263, 762
• 264, 549 260, 005
249, 975
259,
989
Stocks, end of month
do
59, 512
62, 070
62, 096
63, 745
62, 782
66, 036
67,470
66,078
68, 042 ' 74, 248 r 78, 990
63,163
Coarse paper: t
228, 912
233, 647
242,126
Orders, new
.
do
264, 665
238,828
241,042
245,517
268, 523 241,272
268, 636
260, 392 • 259, 009 251,150
152, 605
149,695
Orders, unfilled, end of month
do
158,747
159, 550
155, 539
158,730
155, 245
150,610
149, 956
145, 093
136, 000 • 134, 000 133, 000
222, 588
247, 641
244, 373
Production
'.
do
258,068
233, 492
249,895
245, 463
265, 386 242,667
268, 999
265, 314
267, 586
253, 500
220, 637
250,406
Shipments
do
260, 401
230,171
241, 498
247, 650
244, 540
245,741
262,416
267,015
264, 375
251, 900
268, 448
60,187
58,190
Stocks, end of month.
do
57,886
60, 263
60, 330
'62,595
60, 756
59,931
63,276
62, 890 • 58, 850 r 61,090
62, 000
Newsprint:
Canada:
379, 731
Production
do
377,941
366,092
366, 251
368,925
344,645
364,483
371, 637
387,672
385,606
388, 461
382, 937
379,065
Shipments from mills
do
388,106
379,460
389, 505
369,986
332,211
393,169
346,870
380, 732 380,843
397, 706
383, 594
91,097
Stocks, at mills, end of month
do
67, 564
80,932
74,310
44, 563
81, 764
45, 624
84, 222
69,330
88,704
93,467
83,565
United States:
281,102
263,698
Consumption by publishers
do
339, 286
299,807
338,012
322,136
307, 967 338,337
292, 534
342,572
348, 823
327, 060
353,091
Imports!
do
355,605
315,932
314, 364
357, 998
389,907
293, 801
320,564
349,649
368,133
90.00,
Price, rolls (N. Y.)
dol. per short ton__
90.00
90.00
60.00
90.00
90.00
96.00
96.00
96.00
96.00
96.00
96.00
67,656
Production
short tons..
70, 507
66, 475
72, 253
70,732
65,880
58,016
65,094
69,371
72, 659
64,894
72, 075
68,955
Shipments from mills.
do
66, 439
73, 545
69, 326
70,168
68, 720
59,019
65, 037
69,199
65,943
71, 553
72, 441
Stocks, end of month:
At mills
do
10, 652
12,397
11,105
11,833
11,141
7,355
8,301
8,358
6,306
7,584
6,478
7,218
At publishers
do
278,918
312,573
295, 385
308,033
279, 631
292,920
267, 958 274,453
295,052
282, 202
268,665
294, 728
In transit to publishers
do
68,401
84,009
83, 957
77,150
89, 755
84,113
89,132
75, 785
89,083
88,644
73, 363
Paperboard (National Paperboard Association) :}
Orders, new
short tons..
736,454
720,388
812,849
788,601
747,159
756,818
711,294
894,310
790,215
791, 201
798, 033
Orders, unfilled, end of month
do
494,554
425,412
437, 550
436,178
420, 456
452,124
432, 911
423, 510
464,683
397.407
352, 013
381, 065
Production
do
709, 956
768,412
750,042
823,203
741,337
752,036
813,169
713,394
861,215
824,155
821, 795
789, 230
Percent of activity
90
96
101
100
100
103
102
102
100
94
Waste paper, consumption and stocks:cf
398,123
Consumption
short tons__
429, 973
429,113
460,009
422, 748
416,830
450,176
409,210
449,465
477,139
440, 026
411, 864
312,685
Stocks at mills, end of month
do
302, 668
302, 366
324, 763
322, 814 318,617
274, 966
253, 519
256, 561
257,074
259, 902
277, 315
'Revised. tf1 Estimated; see note in April 1946 Survey.
JSee note in September 1947 Survey for reference to revisions.
,u C Cnote
nui C marked
inai M u " ,t "
ISee
§Data continue series published in the 1942 Supplement but suspended during the war period; data for October 1941-February 1945
1945 will
ill bbe published
b l i h d later.
*New series. Data for pulpwood, waste paper and paper and paperboard are from the Bureau of the Census and are industry totals; for 1942 monthly averages and data beginning 1943
for total paper and paperboard, see p. S-32 of the August 1944 Survey; data for paperboard and building board were revised in the October 1947 Survey transferring liner for gysum and plaster
board and stock for laminated wallboard and other building board from building board to paperboard; revisions prior to August 1946 for these series and unpublished revisions in data for paper
will be shown
later. For data beginning March 1945 for pulpwood and waste paper see p. S-34 of May 1946 Survey; earlier data for these series will be published later
In 3,SoT S S7U S *T R e vised wood pulp production
for 1940-43 and sulphite stocks for 1943 are shown on p. 20 of the December 1944 Survey and revised 1942 stock figures for all series are on
0 iri
p p . o0 and 31 of the June 1943 issue* revision
^^° IQ^Q Halo tn-r nrnnnrinTAn^ o-n^ +^+^i ^^^^i,-.^^;^^ ,,-u~,~™ :~. 4-u~ T^
i
-m* A n
_.. i
__ - i _ • . . -^ -•
._.
.
r \ ~^.,
-.
..
-. ,
for these two series (also January-J
etc., pulp, shown separately above
,
~
.* --
- —
-Yi^r—yu
i~w x—v~~rv-v** ~~«~v. ^w-^^^^v/^ vj
v^v j^^i^t*^ vi \>±±\J v/^ukjuo, uncle u a v c uccu IUItuci oixian icvisions i n ttiG d.Bt& through A u g u s t 1946 winch h8V6 n o t
Deen published; all revisions will be shown later "Coarse" paper (bag, wrapping, shipping sack, converting, and giassine, grease proof and vegetable parchment) represents the series formerly shown as wrapping paper revised to exclude special industrial paper; for comparable data for January and February 1947, see note marked "f" p. S-35 in the May 1948 Survey.
SURVEY OF CURRENT BUSINESS
S-36
Unless otherwise stated, statistics through
1941 and descriptive notes may be found
in the 1942 Supplement to the Survey
June
July
August
1947
September
August 1948
1948
October November
December
January
February
March
April
May
June
PAPER AND PRINTING—Continued
PAPER AND PAPER PRODUCTS—Con.
Paper products:
Shipping containers, corrugated and solid fiber,
shipments*
mil. sq. ft. surface area.Folding paper boxes, value:*
New orders
1936=100..
Shipments
do
PRINTING
Book publication, total
no. of editions..
New books
do.
New editions
_
_
do.
4,575
4,553
4,801
4,905
5,416
5,130
5,063
5,185
5,003
5,509
4,929
4,976
5,019
341.5
460.9
330.8
396.0
372.6
439.3
' 391.7
454.3
' 449.1
'506.9
' 379.4
' 450.1
r 398. 5
' 456.2
430.4
454.8
409.2
449.0
467.4
476.5
378.6
438.5
394.0
417.9
445.0
478.0
531
426
105
592
439
153
678
526
152
647
549
98
772
639
133
1,135
885
250
1,110
835
275
763
612
151
805
607
198
890
732
158
819
637
182
918
715
203
627
504
123
423
604
18.22
14.896
4,921
18.24
14.912
4,675
18.24
PETROLEUM AND COAL PRODUCTS
COAL
Anthracite:
Exports!
thous. of short t o n s . .
Prices, composite, chestnut:
Retail?
dol. per short t o n . .
Wholesale®
do
Production
thous. of short t o n s . .
Bitummous:
Exports^
do
Industrial consumption and retail deliveries, total
thous. of short t o n s . .
Industrial consumption, total
do
Beehive coke ovens
do
Byproduct coke ovens
do
Cement mills
do
Electric power utilities
do
Railways (class I)
do
Steel and rolling mills
do
Other industrial
do
Retail deliveries
_
...do
Other consumption:
Vessels (bunker) §
do
Coal mine fuel
do
Prices, composite:
Retail (34 cities)?
dol. per short t o n . .
Wholesale:®
Mine run
do
Prepared sizes
do
Productionf-—
thous. of short tons..
Stocks, industrial and retail dealers, end of month,
total
thous. of short tons..
Industrial, total
do
Byproduct coke ovens
do
Cement mills
do
Electric power utilities
do
Railways (class I)
do
Steel and rolling mills
do
Other industrial
do
Retail dealers, total
do
COKE
Exports§__
thous. of short t o n s .
Price, beehive, ConnellsviHe (furnace)
dol. per short t o n .
Production:
Beehive
thous. of short t o n s .
Byproduct
do
Petroleum coke
do
Stocks, end of month:
Byproduct plants, total
do.-.
At furnace plants
...do...
At merchant plants
do
Petroleum coke
_
do...
714
700
844
855
16.17
13.520
4,609
16.50
13. 713
4,084
17.48
14.615
4,994
17.71
14.700
5,141
17.87
14. 760
5,506
765
794
18.01
14.796
4,613
18.03
14.803
4,863
671
18.24
i 15.023
4,438
7,560
5,870
8,331
7,148
7,023
6,034
4,246
3,410
3,209
2,601
1,029
40,029
33, 705
711
7,586
627
6, 366
8, 385
742
9,288
6,324
38,661
33, 343
662
7,696
648
6,719
8,151
718
8,749
5,318
40,033
34, 975
897
8,033
672
7,466
8,527
736
8,644
5,058
43, 706
36,670
916
7,658
662
7,616
8,450
741
10, 627
7,036
48, 006
40, 252
965
8,278
704
8,121
9,048
826
12, 310
7,754
45,863
37,853
866
8,091
730
7,737
9,167
867
10,395
8,010
49,161
38,315
950
8,425
757
8,450
9,652
966
9,115
10,846
54,922
41,668
963
8,400
709
8,796
9,726
1,104
11, 970
13, 254
47,423
35, 746
846
7,917
636
7,904
9,091
996
8,356
11, 677
44, 502
34,974
509
8,100
671
7,801
8,430
1,023
8,440
9,528
34,011
29, 600
389
6,488
649
6,919
7,044
819
7,292
4,411
177
202
149
168
179
216
156
191
161
209
131
191
55
55
625
18.29
i 15.139
4,867
18.59
i 15.332
4,590
4,728
r
39,169
r
33, 541
'908
8,185
692
7,112
7,766
822
' 8,056
5,628
38,931
32,988
851
8,036
690
7,520
7,432
798
7,661
5,943
12.10
12.68
14.01
14.04
14.15
14.48
93
202
14.50
14.64
14.69
14.70
6.382
6.588
47, 424
7.126
7.342
39, 882
7.424
7.642
50,879
7.454
7.657
52, 381
7.528
7.798
57, 301
7.549
7.889
52, 689
7.575
7.922
54,798
7.695
8.031
55, 780
7.710
8.090
49, 711
17.684
i 8.123
33,844
i 7. 728 i 7.862
i 8.146
i 8. 272
34,600 ' 55, 965
18.347
53,208
49, 778
46, 384
7,096
1,079
16,409
8,517
1,226
12,057
3,394
45, 366
42,176
4,804
968
15, 292
1,086
13, 218
3,190
47,157
45,199
5,482
894
15,739
6,522
1,128
15, 434
1,958
48,370
46,353
6,216
909
16,154
6,227
1,089
15, 758
2,017
50,276
48,144
7,310
1,049
16, 772
6,305
1,076
15,632
2,132
50, 455
48,255
8,207
1,087
16, 673
6,156
985
15,147
2,200
52,161
50,124
9,148
1,113
16, 788
6,749
1,012
15,314
2,037
49, 576
48,185
8,671
1,049
15,792
6,906
943
14,824
1,391
48, 613
47,424
8,807
991
14,868
7,047
976
14,735
1,189
43, 585
42, 581
7,435
956
13,609
5,599
881
14,101
1,004
34,418
33, 576
4,308
776
11, 745
4,864
771
11,112
842
47,032
45, 680
7,762
1,001
14,601
7,208
1,074
14,034
1,352
58,010
56.166
10,474
1,361
17,041
8,787
1,269
17,234
1,844
77
60
118
76
79
60
59
67
9.562
11.000
12.000
12.000
12.125
12.250
12.250
12. 500
12.500
12. 500
12. 500
12.900
13.000
••471
' 5,353
201
429
5,373
224
616
5,800
210
1,063
513
550
97
549
5,650
175
1,151
589
562
83
603
5,886
210
1,040
535
504
606
5,865
204
912
554
358
67
539
5,513
203
807
618
190
79
324
5,653
242
716
587
128
246
4,491
225
646
533
113
69
541
5,593
773
458
315
86
583
5,396
192
1,029
509
520
'577
'5, 722
217
400
268
89
578
5,633
200
982
544
438
110
'802
'644
158
83
856
641
215
110
()
14.80
15.11
15.29
37
PETROLEUM AND PRODUCTS
Crude petroleum:
Consumption (runs to stills)f
thous. of bbl. 153,604 161,844 163,068 159,771 162,854 158,719 165,858 165, 796 156,014 167,007 166,198 175,705
4,087
4,139
5,184
3,758
Exports§
.do__.
2,626
3,699
3,538
3,844
3,138
4,039
3,362
2,992
8,591
8,033
Imports!
„
do
7,919
7,762
9,393
7,638
7,908
7,512
9,767
9,339
9,144
8,622
1.810
1.810
Price (Kansas-Okla.) at wells.
dol. per bbl.
1.810
1.810
2.510
2.510
2.010
1.910
2.510
2.410
2.510
2.510
2.510
Production!
thous. of bbl. 152,978 159,237 160,365 157,530 164,913 158,736 165,443 163,781 155,224 167, 593 164,509 170, 574
98
97
Refinery operations
pet. of capacity ~
95
93
97
97
92
Stocks, end of month:
Refinable in U. S.f
thous. of bbl. 237,278 230,974 228,623 225,258 226,666 225, 462 224,929 223, 430 224,880 227,408 227, 278 223,820
56,656
57,136
53,849
54,050
59,160
At refineries
do
54, 572
53,660
60,807
58,989
52,864
53,891
58,751
At tank farms and in pipe lines
do... 162, 784 159, 556 156, 241 156, 276 157,853 156, 224 156, 726 153,378 154,233 152, 758 150, 787 148, 890
14,762
15,146
14,964
14,932
15, 334
On leasesf
.-do...
15,684
15,661
15,339
16,075
15, 578
16,179
16,161
5,208
5,275
6,320
5,194
5,429
Heavy in California
do___
7,228
6,756
5,725
6,539
5,623
7,498
6,412
1,842
1,760
1,810
1,523
1,522
Wells completed t
number.
1,630
1,416
1,716
1,406
1,554
1,864
1,733
Refined petroleum products:
Fuel oils:
Domestic demand:§
16,355
Distillate fuel oil
thous. of bbl.
19,414
16,977
16,093
23,116
28,997
40,426
25,498
38,648
33,779
22, 809
42,056
Residual fuel oil
do...
40,412
38,237
39,864
40,677
43,995
43, 538
42,831
45, 565
52,015
40, 089
47,808
48,853
Consumption by type of consumer:
3,810
3,715
3,273
Electric power plantsf
do...
3,927
4,039
3,862
4,261
4,433
3,601
4,002
4,256
2,943
3,083
6,564
Railways (class I)
_
do
6,650
6,714
6,5%
7,004
6,941
7,141
5,995
6,661
6,188
6,409
5,824
Vessels (bunker oil)§
do...
6,676
6,371
5,948
5.382
5,901
5,419
4,651
5,054
4,510
5,685
4,800
4,606
1
See note marked "<g>''
_ .for
. . this. ,.page.
Beginning January 1948 included in "other industrial."
Revised.
® The comparability of the data for both anthracite and bituminous coal is slightly affected beginning March 1948 by a substitution for one of the reporting companies; February 1948 figures
strictly comparable with Marchf or anthracite and bituminous coal, prepared sizes, are $15,011 and $8,122, respectively; for bituminous coal, mine run, there was no change in price between
February and March on the basis of comparable reports; April 1948figurestrictly comparable with May for bituminous coal, prepared size*, $8,154.
§Data continue series published in the 1942 Supplement but suspended during the war period; data for October 1941-February 1945 will be published later. Bituminous coal exports for
October-December 1947 have been revised to include Army civilian supply shipments (see note marked "§" on p. S-20).
?The comparability of the series has been affected from time to time by a reduction in the number of cities or by a change in the sample (see note marked "?" in the April 1948 Survey for
changes during 1946 and early 1947); February-July 1947 data are directly comparable and cover 16 cities for anthracite and 30 cities for bituminous coal. Beginning August 1947 data cover
10 cities for anthracite and 21 cities for bituminous coal. July 1947 averages comparable with August for anthracite and bituminous are $16.46 and $13.04, respectively.
•New series. For data beginning 1934 for shipping containers, see p. 20 of the September 1944 Survey. For data beginning June 1943 for folding paper boxes, see p. S-32 of the August 1944
Survey. Revisions in the January-September 1946figuresfor folding paper boxes and January 1943-May 1944 data for shipping containers are available on request.
tRevised series. See note marked "f" on p. S-36 of the September 1947 Survey for reference to 1941-45 revisions for bituminous coal production and 1941 revisions for the indicated series
on petroleum products; 1942-43 revisions for the latter series are available upon request. Final 1946 revisions for bituminous coal are shown on p. S-36 of the February 1948 issue.
SURVEY OF CURRENT BUSINESS
August 1948
S-37
1948
1947
Unless otherwise stated, statistics through
1941 and descriptive notes may be found
in the 1942 Supplement to the Survey
July
June
August
September
October
November
December
January
February
March
April
May
June
PETROLEUM AND COAL PRODUCTS—Continued
PETfr OLEUM AND PRODUCTS—Continued
Refine d petroleum products—Continued
Fuel oils—Continued
Exports: §
2,088
Distillate fuel oil
thous. of bbl_.
679
Residual fuel oil
do
.075
Price, fuel oil (Pennsylvania)
dol. per gal__
Production:
24, 214
Distillate fuel oil
thous. of bbl__
36, 977
Residual fuel oil
do
Stocks, end of month:
39, 676
Distillate fuel oil
do
43, 515
Residual fuel oil
do
Xerosene:
5,910
Domestic demand§
_do
711
Exports§
do
Price, wholesale, water white, 47°, refinery
.082
(Pennsylvania)
dol. per gaL.
8,717
Production
thous. of bbL.
8,956
Stocks, refinery, end of month
do
Lubricants:
2,873
Domestic demand §
do
1,338
Exports§
do
Price, wholesale, cylinder, refinery (Pennsyl.330
vania)
dol. per gaL.
4,427
Production
thous. of bbL.
8,281
Stocks, refinery, end of month
_do
Motor fuel:
All types:
71,329
Domestic demand§
do
3,937
Exports§
__do
Prices, gasoline:
.080
Wholesale, refinery (Okla.)
dol. per gal..
.172
Wholesale, tank wagon (N. Y.)
do
.171
Retail, service stations, 60 cities
do
69, 847
Production, totalf
thous. of bbl__
61, 855
Gasoline and naphtha from crude oil_do
10, 505
Natural gasoline and allied productsJf-do__.
Sales of 1. p. g. for fuel, etc. and transfer
2,513
of cycle products
thous. of bbl__
5,898
Used at refineriesf
do
2,936
Retail distribution d"
mil. of gal_.
Stocks, gasoline, end of month:
81,160
Finished gasoline, total
thous. of bbl_.
50, 610
At refineries
do
8,614
Unfinished gasoline
do
5,452
Natural gasoline
do
Aviation gasoline:*
3,003
Production, total
do__.
1, 353
100 octane and above
do
4,847
Stocks, total
_do
1,671
100 octane and above
do
Asphalt:
12,424
Imports§
_short tons..
823,800
Production
do
1, 000, 500
Stocks, refinery, end ofmonth
do
Wax:
78,120
Production
thous. of lb_.
88, 200
Stocks, refinery, end ofmonth
do
Asphalt prepared roofing, shipments, totalf
5,806
thous. of squares..
1,747
Smooth-surfaced roll roofing and cap sheet.do
1,368
Mineral-surfaced roll roofing and cap sheet.do
2,691
Shingles, all types
do
334
Asphalt siding, shipments*
do
32, 758
Saturated felt, shipments*
short tons_.
2,987
600
.079
3,019
781
.085
2,990
821
.087
3,058
797
.090
1,376
410
.092
842
769
.102
1,585
281
.110
1,042
499
.110
1,222
683
.110
1,649
907
.110
2,323
689
.110
26, 270
38,550
26,946
38, 592
27,325
37,098
29,072
39,066
28, 254
37,344
30, 759
39, 746
33, 539
39,606
32, 688
37, 542
32, 548
40, 523
29,352
39,104
30, 764
40, 732
46,444
47,600
54, 707
51,334
59, 764
52, 578
63,252
52, 502
51,081
47,091
41,036
44,636
34, 590
43,156
32, 214
41,945
34, 514
43,301
40, 781
48, 518
5,348
746
5,447
313
6,580
476
12,904
66
16,198
216
12,608
10,884
269
7,774
6,508
474
9,117
10,867
.092
8,970
13,161
.095
8,547
14,286
8,163
578
.095
9,308
14,908
61,334
52,455
11,070
372
.095
9,352
12,842
.108
10,129
9,940
.115
10,697
6,690
.121
11,030
5,849
.125
11,262
6,039
.125
10,236
6,872
.125
9,973
8,872
3,003
1,300
3,051
1,105
3,217
3,427
1,090
2,917
961
3,295
1,160
3,056
1,028
3,044
1,143
3,231
1,032
3,096
1,139
2,956
1,142
4,227
8,188
.350
4,400
8,420
.352
4,047
8,340
.360
4,350
8,157
4,264
8,531
.378
4,566
8,624
.390
4,287
7,892
.390
4,132
i 7,829
.390
4,404
i 7,961
.390
4,308
18,022
.390
4,500
i 8,411
73,441
4,020
72,089
3,224
71,384
3,084
73,295
3,171
64,158
3,673
67,285
2,882
61,308
2,075
56,487
1,426
68,171
2,165
72,183
3,190
77,186
3, 218
.080
.174
.172
73,494
65,200
11,019
.083
.174
.174
75,745
67,404
11, 254
.084
.176
.173
72,944
64,744
11,096
.085
.176
.178
75,656
67,150
11,685
.090
.178
.179
72,061
63,623
11,951
.099
.183
.194
75,140
66, 770
12,357
.105
.188
.194
73,812
65. 744
12,047
.105
.188
.195
67, 518
59, 964
11,372
.105
.188
.195
72,025
63,608
12, 296
.105
.188
.195
74,219
65,834
11,704
.105
.188
.195
79,421
70, 501
12, 072
2,725
6,176
3,080
2,913
6,477
3,022
2,896
6,513
2,892
3,179
6,355
2,959
3,513
6,323
2,593
3,987
5,994
2,794
3,979
6,434
2,460
3,818
5,695
2,297
3,879
6,187
2,745
3,319
6,058
2,979
3,152
6,551
77,069
47,929
8,934
5,269
77,190
46,398
74,710
45,084
7,874
4,221
78,669
46, 529
5,017
75,882
45,567
8,478
4,456
4,266
83,111
51, 570
9,192
4,296
93,290
61,134
8,877
4,323
102,235
68,604
8,764
4,673
103,398
68,824
8,551
4,806
101, 280
64, 553
8,549
5,305
99, 554
61, 648
8,998
5,622
3,467
1, 545
5,144
1,804
3,664
2,061
5,480
1,968
3,733
2,258
5,803
2,198
3,449
2,121
5,919
2,338
3,316
2,187
6,106
2,575
3,379
2,186
6,064
2,422
3,443
2,385
6,557
2,712
3,044
1,825
7,186
2,964
3,315
2,329
7,044
2,808
4,088
2,945
7,359
3,266
4,075
2,775
6,790
2,667
24, 591
879,800
866,200
26,191
987, 500
716, 500
10,189
931,800
597,800
47,889
901,100
540,700
67
726,900
661,300
12,316
638,500
731,100
11,031
587, 500
812,400
42, 623
12, 382
17, 793
11,904
818,400
551,800 624,000 676,900
925,800 11,020,700 1,082,900 11,156,200
89,600
93, 520
66,080
87,920
89,880
96,320
80,080
91,000
85,960
96,320
98,0C0
104,720
82, 320
103,320
98, 280
100,800
92, 960
108, 920
82, 600
112, 560
5,600
1,630
1,287
2,683
271
33,234
5,672
1,590
1,332
2,750
283
35,456
5,886
1,699
1,368
2,819
300
39, 565
6,640
1,908
1,529
3,203
353
42,637
5,549
1,649
1,254
2,647
331
36, 667
1,736
1,285
2,665
356
37,470
5, 549
1, 743
1,244
2,562
338
40,180
5,121
1,611
1,132
2,378
329
37,633
5,155
1,561
1,208
2,385
350
49,662
4,946
1,405
1,056
2,484
'251
55,316
r 4, 636
r
1, 216
998
' 2,423
'213
r
52,476
1
.125
.390
.105
.188
.196
5,221
1,280
1,084
2,857
205
55,043
RUBBER AND RUBBER PRODUCTS
RUBBER
Natural rubber:
42,529
40, 389
47, 289
50, 557
57,286
52,076
56,284
58,174
Consumption!
long tons.
51,012
54,444
50,616 r 52,022
55,692
57,626
65, 724
45, 526
49,976
46,285
50,946
71, 596
80,852
Imports, including latex and Guayule§
do
54,418
72,070
40, 709
40, 747
345,175 2131,624 2 130,040 2 122,097 ; 2 H4,115 2110,752 2 129,038 2 136, 227 2148,081 2130,295 2123,248 2112, 724 2118,389
Stocks, end of month §
do
Synthetic rubber:*
37,607
42, 580
39,001
41,865
45,668
39,091
Consumption
do___
43,230
43,003
35,375
38, 222
34,632 r 35, 268 39,318
454
287
349
2,290
202
221
413
419
Exports
do...
464
387
569
400
31, 917
32, 901
30, 518
35,681
33,834
37,825
Production
do
38,134
39,428
39,025 2 43,940
40,846
42, 866
41, 206
2
2
2
79, 246
2 67,871
97,612 2 97,728 2 91,288
2 67,379
62,366
2 60,290
Stocks, end of month
do...
65,649
72,885 2 78, 722 285,734 2 89, 214
Reclaimed rubber:!
20,433
21,093
23,801
26, 735
21, 283
23,491
Consumption
do
25,229
25,885
22,374
24,362
22,322 <• 22, 975 23, 527
21, 252
22, 561
24,144
21,658
25,648
23,161
Production
do___
25,123
25,634
23,678
24,089
21,802 r 21, 043 22,547
2 39,704 2 40,130 2 38,461 2 36,643 2 36,425 2 35,943 2 36,307 2 38,444 2 38,313 2 37,946 • 2 36,612 2 35, 706
Stocks, end ofmonth...
ao__.
TIRES AND TUBES
Pneumatic casings:§
'343
Exports®
thousands_.
••343
••280
••294
••234
••243
••195
'184
••161
••166
143
7,583
6,790
7,919
Production
do
7,165
8,889
7,716
8,050
7,851
6,385
6,930
6,931
7,584
6,574
8,246
Shipments
__.do
7,526
7,441
8,639
7,520
7,915
6,583
5,919
5,106
6,254
5,703
7,827
7,039
2,128
2,178
2,130
1,974
Original equipment
do
1,793
2,097
2,338
2,330
1,818
2,020
2,366
2,189
2,265
5,191
5,513 I
Stocks, end ofmonth
___do
6,670
5,838
5,464
6,975
5,277
8,806
11,611
10,172
11,364
11,435
10,940
r
Revised.
*
New
basis
excluding
distributors'
stocks
in
California;
comparable
figures
for
December
31,1947:
lubricants,
7,701:
asphalt,
685,600.
3
Beginning July 1947 data are reported stocks available to industry, cf See note in the April 1946 Survey. Revisions for January 1945-July' 1946 will be shown later.
§D ata continue series published in the 1942 Supplement but suspended during the war period; data for 1941-45 for reclaimed and natural rubber and for tires and tubes (p S-38) are shown on
pp. 22 and 23 of the December 1946 Survey; data for October 1941-February 1945 for other series will be shown later.
{Includes natural gasoline, cycle products, liquefied petroleum gases at natural gasoline plants and benzol; sales of liquefied petroleum gas for fuels and for chemicals and transfers of cycle
products are deducted before combining the data with gasoline and naphtha to obtain total motor fuel production.
*New series. Data beginning 1939 for aviation gasoline, compiled by the Bureau of Mines, and data beginning 1943 for asphalt siding and saturated felts, compiled by the Bureau of the
Census, will be published later. For data for 1941-45 for synthetic rubber, see p. 23 of December 1946 Survey.
fRevised series. For 1941 revisions for the indicated series on petroleum and products, see notes marked "f" on p. S-33 of the March and April 1943 issues; 1942-43 revisions are available on
request. See note in April 1945 Survey for explanation of revision in data for asphalt roofing.
^Export data for tires and tubes have been revised to exclude shipments to Alaska, Hawaii, Puerto Rico, and Virgin Islands; January-May 1947 revisions not shown above: Tires—
373; 316; 339; 391; 474; tubes—297; 250; 274; 305; 452.
SURVEY OF CURRENT BUSINESS
S-38
Unless otherwise stated, statistics through
1941 and descriptive notes may he found
in the 1942 Supplement to the Survey
August 1948
194?
June
July
August
September
1948
October
November
December
January
February
March
April
May
June
RUBBER AND RUBBER PRODUCTS—Continued
TIRES AND TUBES—Continued
Inner tubes:§
Exports®...
Production
Shipments
Stocks, end of month
.thousands..
do
do
do
r
306
5,440
5,779
9,413
r
268
4,542
6,216
7,909
r
217
5,1791
6,499
6,937
r
157
6,540
7,233
6,339
'181
7,619
7,616
6,424
r
137
6,457
6,343
6,683
' 134
6,544
5,324
8,088
'101
6,226
5,152
9,116
'120
4,980
4,505
9,657
'126
5,534
5,188
9,930
*• 117
5,578
5,807
9,737
95
5,702
5,419
10, 069
6,716
6,745
9,939
139,066
161,110
160,918
158, 554
171,412
16,041
80
19,047
17, 880
5,930
17, 740
86
19, 544
16,077
5,650
STONE, CLAY, AND GLASS PRODUCTS
ABRASIVE PRODUCTS
Coated abrasive paper and cloth, shipments.reams_.
PORTLAND CEMENT
Production
thous. of bbl_.
Percent of capacity
Shipments
__.thous. of bbl_.
Stocks, finished, end of month
do
Stocks, clinker, end of month
do
CLAY PRODUCTS
Brick, unglazed:
Price, wholesale, common, composite, f. o. b. plant
dol. per thous..
Production*
...thous. of standard brick..
Shipments*
do
Stocks, end of month*
do
Structural tile, unglazed:*
Production.
short tons..
Shipments
...do
Stocks..
do
Vitrified clay sewer pipe:*
Production
do
Shipments
--.
_._do—
Stocks
do
GLASS PRODUCTS
G lass containers :t
Production
~.thous. of gross.
Shipments, domestic, total...
do
General use food:
Narrow neck food
do—
Wide mouth food (incl. packers tumblers)
thous. of gross.
Beverage
do—
Beer bottles
do
Liquor and wine.
do—
Medicinal and toilet
do
Chemical, household and industrial
do
Dairy products
do
Fruit jars and jelly glasses..
.__do_._
Stocks, end of month
do
Other glassware, machine-made:
Tumblers:f
Production.
thous. of dozens.
Shipments
do_-_
Stocks
_._—
do...
Table, kitchen, and householdware, shipments!
thous. of dozens,
Plate glass, polished, production...tbous. of sq. ft_
GYPSUM AND PRODUCTS
Crude gypsum:
Imports!
thous. of short tons.
Production
.do
Calcined, production
do
Gypsum products sold or used:
Uncalcined
short tons.
Calcined:
For building uses:
Base-coat plasters
do
Keene's cement
do—
All other building plasters
do
Lath
_..thous. of sa. ft.
Tile
do...
WallboardcT.
do...
Industrial plasters
sYort tons.
134,834
126, 722
130,489
146,111
146,754
145, 409
125, 743
15,971
81
18,179
17,095
5,736
16,342
80
20,099
13,337
5,514
17,480
86
20,365
10, 452
4,855
17,319
88
19,840
7,921
3,889
18,300
90
20,562
5,668
3,114
16,814
85
16,267
6,209
2,929
16,123
79
12,379
9,975
3,605
14,541
71
9,205
15, 336
4,299
13,347
70
8,338
20,340
5,196
14, 502
71
13,957
20,886
6,072
19.550
414,634
406, 918
528,873
19.668
438, 591
455,616
504,124
19. 937
466, 592
457, 311
511,977
20.374
456,943
483,622
483,156
20. 490
511,366
538,950
451, 497
20. 636
460,971
453,100
456,272
20.843
436,073
431,130
452,138
21.194
317,619
300,386
493,925
21.479
392,440
414,418
470,041
101, 742
98,364
117,080
118, 814
110,220
123, 943
114,163
112,805
124, 935
111,230
110,343
124,794
115,844
119, 243
119, 289
106,221
100,579
124, 331
97,369
95,319
120,653
21. 093
369, 034
335, 438
479, 788
84,678
77,107
127, 576
83,982
75,800
134,959
99, 575 • 109, 451 109, 586
97,871 '113, 784 113, 851
136,014 ' 130, 818 125, 046
115,717
111,547
156,358
109,686
110,012
155,971
111,418
110,754
156, 544
117,038
117,530
155,976
120, 704
119,913
156,607
117,435
110,906
159,360
120,892
116,647
166, 450
118, 720
98, 540
183,694
110, 777
93, 973
200,385
131,353
122,307
209,313
9,619
8,316
8,877
8,127
9,476
8,859
9,384
8,781
9,646
8,767
8,402
7,703
7,988
7,603
8,015
7,006
7,320
8,977
10, 399
928
764
1,285
1,528
1,650
1,093
1,616
663
1,309
433
305
320
1,754
1,152
1,263
575
1,449
397
308
464
7,065
2,322
1,212
676
627
1,479
466
307
486
7,300
2,189
1,040
632
778
1,645
452
290
227
7,478
2,
5,854
4,867
8,158
3,645
21,401
6,210
5,261
7,729
3,331
21,026
4,346
7,775
2,302
17,670
473
111,8
22.204
22.040
' 445, 263 490, 885
• 494, 952 493,644
• 421, 558 415, 796
22.448
" 122, 561 120,181
• 124, 272 121, 210
• 207, 527 206, 460
8,951
7,383
' 8, 820
' 7. 902
653
8,145
7,397
831
482
532
578
969
549
955
744
1,279
1,794
589
315
*17
7,896
11,846
632
974
1,502
1,529
449
285
i 13
8,132
11, 745
526
1,271
1,167
1,603
419
384
17
8,057
1,820
419
839
840
1,791
479
247
39
1,759
692
704
783
1.584
502
244
39
8,488
2,518
1,338
1,055
1,060
2,281
813
272
92
6,724
1,769
2 729
605
786
1,861
470
339
275
7,876
' 1, 976
'849
692
781
' 1, 638
'535
210
568
' 8,419
1,866
884
641
604
1,466
501
208
395
8,810
4,688
5,994
7,940
5,833
5,186
4,674
4,961
8,694
4,944
4,599
8,924
4,539
4,416
8,690
4,325
4,296
8,741
5,223
5,314
8,659
5,422
5,628
8,510
5,278
5,277
4,357
4,742
8,155
3,483
20,648
4,511
22,989
4,181
18, 777
3,793
20,089
3,195
21,958
3,051
21,751
4,147
23,572
3,714
23, 417
3,847
20,783
3,351
24, 208
13, 303
12,850
22, 936
12,162
10,974
24,123
823
409
1,467
1,166
918
1,507
1,279
644
1,667
1,410
241
1,562
1,385
407,354
445,659
519, 395
506, 561
391, 548
12, 520
101,597
391,142
7,281
520,358
46, 745
451,070
10,084
104,505
462, 222
6,791
514,871
46,148
499,480
10,909
116,881
488,677
7,233
592, 627
55,998
410, 518
11, 944
107,121
530,444
3
7, 273
684,302
50,692
3
TEXTILE PRODUCTS
CLOTHING
Hosiery:
Production
thous. of dozen pairs..
Shipments
do
Stocks, end of month
_do
10,546
10,503
20,795
10,424
10,020
21,198
11, 651
11,828
21,021
12, 408
13,170
20, 259
13, 962
14, 589
19, 633
12, 804
13,099
19, 338
12, 548
12,415
22,217
13, 405
13,199
22, 423
13, 365
13,178
22, 610
14,185
14,312
22,483
COTTON
Cotton (exclusive of linters):
710,601
727, 448
759, 498
677, 780
826, 216
753, 406
860, 202
785,440
801,142
785, 231
878, 714
Consumption
bales.. 729, 412
829, 730
4
123, 545
37, 066
83,918
302, 773
164, 665
134, 180
229,553
214,098
204, 811
Exports!
do
163, 498
261,062
155,080
95, 526
8,163
62,029
4,984
11, 750
Imports!
do
97, 946
15,319
9,454
7,846
19, 014
14,668
10,398
.312
.359
.341
.352
.332
Prices received by farmersf
dol. per lb__
.319
.341
.353
307
.331
.341
.307
.318
Prices, wholesale, middling, l5At>", average, 10
.372
.375
.316
.358
.370
markets
dol. per lb_.
.343
.336
.352
.376
317
.342
.372
1
' Revised.
Jelly glasses included with wide mouth food containers.
2 includes small quantity of nonreturnable beverage containers.
3
Laminated board included with tile temporarily.
* Revised to include Army civilian supply exports (see note marked " § " on p. S-20); there were no such shipments in other months of 1947.
concludes laminated board reported as component board. §See note marked " § " on p. S-37.
<g>See note marked " ® " on p. S-37.
*New series. See note marked "*" on p. S-37 of September 1947 Survey for reference to tables giving the ee.rliest data available for the clay products series.
tRevised series. See note on p. S-34 of the July 1944 Survey regarding changes in the data for glass containers and comparable figures for 1940-42 and note in May 1946 Survey for changes
in the reporting companies for other machine-made glassware. For revisions for farm price of cotton for August 1937-July 1942, see p. S-35 of June 1944 Survey.
SURVEY OF CURRENT BUSINESS
August 1948
Unless otherwise stated, statistics through
1941 and descriptive notes may he found
in the 1942 Supplement to the Survey
S-39
1947
June
July
August
September
1948
October
November
December
January
February
March
April
May
June
TEXTILE ]PRODUCTS—Continued
COTTON—Continued
Cotton (exclusive of lintcrs)—Continued
Production: 1
Ginningsc?
thous. of running bales. _
Crop estimate, equivalent 500-lb. bales
thous of bales
Stocks, domestic cotton in the United States, end
of month:
Warehouses . . _ _ __
thous. of bales. _
Mills
...do
Cotton linters:
Consumption
do
Production
_
do
Stocks end of month
do
COTTON MANUFACTURES
Cotton cloth:
Cotton broad woven goods over 12 inches in width,
production, quarterly*...mil. of linear yards
Cotton goods finished, quarterly:*
Production total
do
Plain dvftd
do
Printed
do
Exports?
__thous. of sq. y d . .
Imports^
- do
Prices, wholesale:
Mill margins
.
cents per lb__
Denims, 28-inch
dol. per yd__
Print cloth, 64 x 60
._
do
Sheeting, unbleached, 36-inch, 56 x 60
do
Cotton yarn, Southern, price, wholesale, mill:
22/1, cones, carded, white
dol. per lb__
40/1, twisted, carded®
- - do
Spindle activity:!
Active spindlest - --thousands..
A ctivp snindlp hours total
mil of hr
Average per spindle in place
hours
Operationst
pet. of capacity.
194
3,899
8,362
10,056
10,596
211, 552
11,373
211, 851
1,168
1,601
856
1,322
781
1,076
2,528
1,058
5,032
1,375
5,297
1,746
5,418
2,048
5,063
2,122
4,427
2,151
3,637
2,194
2,823
2,109
2,199
1,929
1,642
1,673
'70
23
'383
82
23
345
81
32
289
91
105
296
103
203
364
99
188
420
102
175
476
102
166
511
98
129
516
104
104
520
97
66
500
99
47
459
95
36
403
2,461
2,297
2,569
2,587
1,759
914
442
403
125,349
472
129, 216
1,076
140,711
883
1,535
799
383
353
128, 921
1,624
142, 285
1,196
123, 480
718
1,801
934
449
418
102,417
4,161
93, 907
2,308
82,410
3,461
1,872
964
477
431
75, 299
2,364
80, 030
2,759
79, 889
3,813
46.46
.338
.228
.232
49.49
.338
.242
.232
53.96
.338
.251
.232
57.91
.338
.255
.232
58.60
.338
.268
.232
59.43
.338
.277
.234
60.29
.338
.283
.239
59.63
.338
.261
.240
58.33
.338
.239
.240
52.98
.338
.208
.240
46.30
.338
.205
.230
43.22
.338
.198
.230
40.84
.706
.882
.700
.890
.706
.921
.706
.921
.708
.926
.720
.951
.725
.960
.765
1.019
.804
1.098
.804
1.098
.804
1.098
.804
1.098
.79&
1.088.
21,324
9,103
382
118.8
21,415
8,531
358
107.0
21,197
9,034
379
119.4
21, 410
9,427
396
121.0
21, 563
10, 802
452
127.0
21, 432
9,530
400
134.8
21, 412
9,544
402
121.3
21, 450
10,802
454
139.0
21, 489
9,819
4
440
137.6
21, 708
11,005
4
492
133.6
21,694
10, 667
4
475
136.1
21, 723
10,080
4
450
134.0
21,479
10,320
4
461
130.9
62.3
18.4
2,327
62.6
18.6
2,428
61.5
20.3
3,265
65.3
23.1
1,342
62.2
20.3
1,674
62.1
22.2
1,369
68.8
22.7
2,711
60.6
20.6
4,588
67.8
22.7
5,219
67.9
22.9
4,599
'68.7
'22.0
3,975
68.3
22.4
.670
.320
.670
.320
.670
.320
.670
.320
.670
.320
.726
.352
.740
.360
.740
.360
.740
.360
.740
.360
.740
.360
.740
.360
9.2
8.4
6.4
8.6
6.4
9.5
5.7
9.3
5.3
7.7
4.0
8.6
4.7
8.8
4.8
9.4
4.8
8.7
3.8
'9.5
'4.0
9.5
4.2
2.60
RAYON AND MANUFACTURES AND SILK
Rayon yarn and staple fiber:
Consumption:
54.7
Filament yarn
— mil. of lb
16.5
Staple fiber . . .
do
2,795
Imports §
thous. of lb
Prices, wholesale:
Yarn, viscose,150 denier, first quality, minimum
.670
filament©
dol. per lb_.
.320
Staple fiber, viscose, 1 ^ denier...
_ .do _
Stocks, producers', end of month:
8.8
Filament yarn
mil. oflb_.
6.6
Staple
fiber
do
Rayon goods, production, quarterly:*
467, 277
Broad wnvpn pnnd<?
thons of linear vards
424,006
Finished total
do
47,675
White
finished
do
289,638
Plain dyed
do
86,
693
Printed
do
Silk, raw:
3
Imports^
thous. of lb
4.150
Price, wholesale, Japan (N. Y.)§
dol. per lb...
WOOL
Consumption (scoured basis) :^
Apparel class
thous. of lb
Carpet class.
_ _ _ do
Imports §
do
Prices,wholesale:
Raw, territory, 64s, 70s, 80s, scoured*-dol. per lb._
Raw, bright fleece, 56s, greasy*_._ _. _ do
Australian, 64-70s, good topmaking, scoured, in
bond (Boston)*
dol. perlb..
Stocks, scoured basis, end of month, totalf
thous of lb
Apparel, totalf
do
DoTnpstiof
do
Foreignf
- -do
647
7.7
479
4.009
193
4.025
175
37, 864
13,192
57, 566
38,840
12, 685
48, 942
38,008
14,056
35, 974
1.225
.565
1.225
.565
1.220
.565
1.002
1.040
1.040
497, 886
408, 485
271, 009
137, 476
89, 401
515, 951
466, 948
48, 985
321, 738
96, 225
455,072
402,112
45, 650
291,146
65, 316
.' 183
.208.
537, 900
498, 963
57, 024
345, 595
96,344
294
4.400
124
4.400
379
4.400
128
2.60
397
2.60
829
2.60
417
2.60
470
2.60
37, 988
13, 708
41, 511
49, 210
17,850
51, 412
37, 652
14,008
48, 388
43, 830
16,175
36, 234
41,700
15, 948
110,302
42, 900
15, 524
79, 981
51, 680
20, 265
86, 749
r
42, 632
r 17,024
62,324
41,600
17,888
48,688
1.220
.565
1.227
.554
1.255
.510
1. 255
1.255
.510
1.255
.510
1.255
.510
1.296
.510
1.310
.510
1.446
.550
1.108
1.165
1.254
1.240
1.370
1.292
1.399
1.652
1.820
461, 431
384.070
265, 835
118,235
77, 361
.510
1.240
442, 755
951
364,
236, 565
128,190
78,196
429,180
346, 452
216,171
130, 281
82, 728
WOOL MANUFACTURES
Machinery activity (weekly average) :^
Looms:
Woolen and worsted:
Pile and Jacquard ..-thous. of active hours.
78
70
68
79
72
61
103
100
'98
83
92
93
Broad
do
2,242
2,223
2,256
2,171
2,282
1,864
2,497
2,324
2,572
2,495
2,565
2,511
43
Narrow
do
39
45
45
47
45
' 42
49
51
40
52
37
Carpet and rug:
124
137
98
132
124
134
Broad
__
do
142
164
163
163
163
167
122
112
110
129
92
Narrow.
do
129
144
119
146
141
141
146
Spinning spindles:
91, 891
85,052
93, 585
92, 662
93,931
90, 474
"Woolen
do
71, 267
103,677
102. 527
98, 429
' 99, 272
98,476
109, 789
115, 568
118, 720
122, 410
88,899
121, 971
117, 489
Worsted
- do
132,666
132,418
125, 437
129, 269
124, 760
189
230
179
218
198
222
214
252
Worsted combs
do
245
247
250
248
' Revised.
* Total ginnings of 1946 crop. 2 Total ginnings of 1947 crop. 3 Not available.
{Number active on last day of month. cf Total ginnings to end of month indicated.
4
Average for all cotton system spindles, including those consuming synthetics and blends not comparable with averages prior to February 1948 which are for cotton consuming spindles.
®Replaces series for 40/1, single, carded; see note 4 on p. S-39 of November 1947 Survey.
©Price of yarn in cones beginning January 1947; prior to 1947 prices were quoted for yarn in skeins; see note in June 1948 Survey.
§Data continue series published in the 1942 Supplement but suspended during the war period; data for October 1941 to February 1945 (July 1946 for silk) will be published later. Data
for cotton cloth exports have been revised to include army civilian supply exports (see note marked"§" on p. S-20).
IData for July, October, and December 1947 and March 1948 are for 5 weeks; other months, 4 weeks. Data for wool consumption were revised beginning September 1946 in the November 1947
Survey to cover consumption only on woolen and worsted goods systems; data through March 1947 published in earlier issues include also consumption on silk, cotton and other systems.
fRevised series. See note marked "f" on p. S-39 of September 1947 Survey for reference to 1941 data for the yarn price series and information regarding revisions in data for wool stocks.
See note for cotton spindle activity at the bottom of p. S-34 in the May 1948 Survey with regard to revision in the series for spindle operations as a percent of capacity; and note at the bottom
of p. S-34 in this issue regarding expansion of series in the September issue.
§
*New series. See notes marked "*" on pp. S-38 and S-39 of the September 1947 Survey for reference to earliest data published for the indicated series.
SURVEY OF CURRENT BUSINESS
S-40
Unless otherwise stated, statistics through
1941 and descriptive notes may be found
in the 1942 Supplement to the Survey
August 1948
1947
June
July
August
September
1948
October
November
December
January
February
March
April
May
June
TEXTILE PRODUCTS—Continued
WOOL MANUFACTURES—Continued
Woolen and worsted woven goods (except woven
felts):*
Production, quarterly, total... thous. of lin. yd__
Apparel fabrics!
do
Men's and boys' wearj
do
Women's and children's wear J
do.__
All othpr t
do
Blankets
do
Other nonapparel fabrics
do
Wool yarn:
Production, total*U_.
thous. of lb_.
K~nitting*1
do
Weaving*^
- . d o . __
Carpet and other*^
- - do. __
Price, wholesale, worsted yarn, 2/32s (Boston)
dol. per lb__
113,865
129 382
114, 063
51,331
48, 020
9 053
6, 845
8,474
113,536
99,133
44, 908
41,054
10 049
6,482
7,921
98,021
50,161
35,440
10,206
7,560
8,284
56, 704
5,764
37,824
13,116
57,335
5,760
39,210
12,365
59,164
6,316
39,704
13,144
61, 796
7,052
41, 244
13, 500
76, 760
9,235
49,580
17,945
1.950
1.950
1.950
2.000
2.020
thous. of dol—
3,708
4,000
4,337
3,678
3,804
thous. lin. yd__
thous. of lb__
thous. lin. yd_.
7,778
4,520
6,034
7,553
4,043
4,561
7,724
4,994
5,409
7,984
4,310
4,975
7,026
4,699
5,565
60,900
7,024
39,732
14,144
71, 705
8,785
47,460
15,460
131 939
116 219
54, 981
49 295
8 620
5,496
10, 224
67,108
8,084
43,760
15,264
67,304
7,940
43, 872
15,492
C)
(•)
82, 550
9,610
53, 730
19, 210
' 65,876
r 7,488
r 42,092
' 16, 296
65, 568
7,508
41, 656
16, 404
C)
<•>
MISCELLANEOUS PRODUCTS
Fur, sales by dealers
Pyroxylin-coated fabrics:®
Orders, unfilled, end of month
Pyroxylin spread
Shipments, billed.
7,122
4,543
5,138
6,816
5,385
5,538
6,656
4,936
6,186
5,733
4,958
6,462
5,228
4,328
5,687
4,408
' 3, 614
r
4,772
4,631
3,040
4,021
TRANSPORTATION EQUIPMENT
AIRCRAFT
Exports, total§
Shipments, total*
For U S military customers*
For other customers*
-
_
268
1,332
139
1,193
222
1,102
104
998
156
1,140
211
929
184
1,351
323
1,028
183
1,041
239
802
218
867
252
615
240
790
288
502
116
607
136
471
187
622
155
467
165
863
278
585
229
'931
165
'766
257
953
141
812
44,461
. number.
22, 591
do. _
21, 870
do
do. _. 400,372
1,628
do
1,409
do
307,124
.
do _
do. __ 284,576
91,620
_ _ do _
73,613
do
3,544
. . . do __
3,306
do
1,437
_ _ do _
1,869
do
238
_ _ _ do _
40,652
24,068
16,584
379,192
1,806
1,694
279,631
257,881
97,755
78,444
2,994
2,820
1,354
1,466
174
50,273
24,317
25,956
349,409
1,765
1,570
261,158
240,358
86,486
66,382
3,110
2,894
1,226
1,668
216
42,157
21,839
20,318
420, 269
1,607
1,412
307, 942
285, 590
110, 720
89, 724
3,158
2,944
1,269
1,675
214
47, 599
22,345
25, 254
436,001
1,667
1,527
315,969
295,099
118,365
94, 307
3,962
3,451
1,587
1,864
511
39, f.22
20,480
19,087
394,175
1,416
1,141
305,148
284,730
87, 611
71,161
3,241
2,988
1,406
1,582
253
39,007
21,362
17,645
469,957
1,449
1,087
366, 939
344,110
101, 569
85, 971
3,287
3,121
1,530
1,591
166
33,643
19,458
14,185
405, 651
1,370
1,068
305,081
285,373
99, 200
83,893
' 3, 373
r 3, 196
1,548
r
1, 648
r
177
30,366
16,422
13, 944
382, 991
1,090
752
274,847
256, 753
107,054
88, 889
r 3,454
r
3,239
1,688
r
1,551
'215
40,071
20,493
19,578
492,013
1,409
1,202
349,998
327,198
140, 606
118, 572
* 4,137
' 3,878
2,094
r
1,784
••259
44,854
22, 570
22, 284
438, 082
1,048
902
308, 071
288, 356
128, 963
111,911
4,116
3,898
2,081
1,817
218
34,180
16,477
17,703
338, 531
1,281
1,161
225,461
209, 591
111, 789
96,909
r
3,688
r
3, 541
r
1,876
r
1,665
147
431,033
1,055
879
312, 406
293, 582
117, 572
101 755
4,047
3 901
2,144
1 757
146
269,863
65,458
263,167
71,647
264,866
75,912
251,655
69,899
281,428
87,167
258,934
73, 737
312,263
67,690
274,978
69,486
249,781
74, 326
311,650
94,806
330, 555
108,168
5,243
4,230
67
63
5,366
4,846
53
45
4,410
4,346
20
20
5,749
5,668
29
29
6,401
6,242
74
74
6,964
6,889
69
55
7,914
7,661
71
71
6,866
6,561
57
57
6,345
6,306
54
54
6,959
6,940
74
74
7, 041
6,726
107
67
7,171
6,651
64
60
7,826
7,731
46
46
1,734
1,732
1,730
1,730
1,725
1,728
1,731
1,735
1,738
1,740
1,743
1,744
1,747
77
4.7
93,159
68, 675
24,484
81
4.9
94,232
70,578
23,654
81
4.9
97,392
71,826
25,566
78
4.7
97,645
73,416
24, 229
72
4.3
103,086
76,713
26, 373
73
4.4
104, 788
78, 857
25, 931
72
4.3
99,216
74, 635
24, 581
76
4.5
101,662
74,008
27,654
79
4.7
103,061
75, 482
27, 579
80
4.8
105,120
80, 772
24,318
83
4.9
109, 567
86, 947
22, 620
86
5.1
103,786
81,067
22, 719
84
5 0
103, 565
79,866
23, 699
2,735
7.6
2,778
7.8
2,709
7.6
2,706
7.6
2,646
7.5
2,612
7.5
2,483
7.1
2,581
7.4
2,702
7.8
2,873
8.3
2,879
8 4
2,887
8.5
2,803
8 3
24
24
0
770
770
0
106
19
87
29
29
0
786
785
1
133
57
76
40
40
0
811
810
1
98
9
89
46
36
10
795
794
1
62
17
45
45
35
10
922
921
1
78
18
60
33
23
10
1,147
1,146
1
110
36
74
30
20
10
1,196
1,195
1
87
20
67
96
76
20
1,417
1,416
1
150
67
83
108
89
19
1,488
1,487
1
71
12
59
119
89
30
1,431
1,431
0
153
30
123
117
89
28
1,455
1,454
1
133
28
105
111
86
25
1,485
1,485
0
135
38
97
123
101
22
1,572
1,572
0
321
288
33
305
271
34
365
339
26
352
262
90
375
303
72
337
273
64
394
317
77
316
270
46
358
258
100
338
288
50
337
318
19
331
286
45
292
243
49
number..
. . . do
do _
-- .« do
MOTOR VEHICLES
Exports, assembled, total§
Passenger cars § .
Trucks§
Factory sales, total §
Coaches, total
_
Domestic
Passenger cars, total
Domestic
Trucks total
Domestic
^Truck trailers, production, total*
Complete trailers
Vans
- _
All other
Chassis shipped as such _
Registrations:!
New passenger cars
~New commercial cars
«...
.
do
do
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, end of month:
Steam, undergoing or awaiting classified repairs
number. .
Percent of total on line
_
Orders unfilled:
Steam locomotives, total
number..
Equipment manufacturers _
do _
Railroad shops
do
Other locomotives, total*
_ _ _ do
Equipment manufacturers*
do
Railroad shops*
do
Exports of locomotives, totalf.
. do
Steam§
_
do
Otherf
_
_ _ . . do
INDUSTRIAL ELECTRIC TRUCKS AND
TRACTORS
Shipments, total
Domestic
Exports
__
number..
do
_ . - . . do .
' Revised.
° Data not available.
tThe total includes fabrics produced for Government orders not included in the detail as follows (thousands of yards): 1947: 2d quarter, 2,214: 3d quarter, 3,122; 4th quarter,
5,659,1st quarter 1948, 3,323; prior to 1947 Government orders were distributed to the proper classifications. Beginning the last quarter of 1947 the unclassified item consists entirely of fabrics
containing 25 percent or more wool reported by cotton and rayon weavers; for the second and third quarters of 1947 this item includes also some fabrics produced by woolen and worsted
manufacturers which were reported as "all other apparel fabrics." See note in the June 1948 Survey regarding an earlier change in the classifications.
^Data for July, October, and December 1947, and March 1948, are for 5 weeks; other months, 4 weeks.
<g>See note in April 1946 Survey with regard to changes in these series.
§Data continue series published in the 1942 Supplement but suspended during the war period. For 1940-45 data for factory sales of motor vehicles see p. 24 of June 1947 Survey. Data
for October 1941-February 1945 for the foreign trade series will be published later. See note on p. S-40 of August 1947 Survey regarding unpublished revisions for registrations.
•New series. For available data for 1937-43 for woolen and worsted goods production, see p. 19 of May 1945 Survey. See note on p. S-39 of July 1947 Survey for source of data on wool
yarn production and explanation of a revision in the data in that issue, and p. S-40 of the April 1947 Survey for source and earliest data published for truck trailers.
Data beginning January
1946 for aircraft shipments are available on request. See May 1946 Survey for description and data beginning March 1945 for unfilled orders of "other locomotives."
tRevised series. Export series for total and "other" locomotives were revised in the May 1946 Survey (see note in that issue).
-INDEX TO MONTHLY BUSINESS STATISTICS, Pages S1-S40Pages marked S
Abrasive paper and cloth (coated)
38
Acids.
23
Advertising
—
6, 7
Agricultural income and marketings
1,2
Agricultural wages, loans
14,15
Air-line operations
22
Aircraft
- 10,11,12,13,14, 40
Alcohol, denatured, ethyl, and methyl
23
Alcoholic beverages
_
2, 26
Aluminum
32
Animal fats, greases .
24
Anthracite
2, 4,11,12,13,14, 36
Apparel, wearing
4, 6, 7, 8,10,11,12,13,14,38,39
Armed forces
9
Asphalt and asphalt products
37
Automobiles
2,3, 7,8,10,11,12,13,14,18
Banking
15,16
Barley
27
Barrels and drums
33
Battery shipments
34
Beef and veal
29
Beverages, alcoholic
2,26
Bituminous coal
2,4,11,12,13,14,36
Boilers
34
Bonds, issues, prices, sales, yields
19
Bone black
24
Book publication
36
Brass
.
33
Brick
4,38
Brokers' loans
15,18
Building contracts awarded
5
Building costs
6
Building construction (see Construction.)
Building materials, prices, retail trade
4, 7,8
Businesses operating and business turn-over—
3
Butter..
27
Candy
29
Cans, metal
33
Capital notations
18
Carloadings22
Cattle and calves
-28
Cell ulose and other plastic products
26
Cement
2,4,38
Cereal and bakery products
4
Chain-store sales
8
Cheese
_
27
Chemicals
2, 3,4,10,11,12,14,18, 23, 24
Cigars and cigarettes
30
Civil-service employees
11
Clay products (see also Stone, clay, etc.)
2, 38
Clothing
5, 7, 8,10,11,12,13,14, 38
Coal.
2,4,11,12,13,14, 36
Cocoa
29
Coffee
29
Coke
2,36
Commercial and industrial failures
;-3
Construction:
New construction, dollar value
5
Contracts awarded
5
Costs
5, 6
Dwelling units scheduled to be started
5
Highway—
—
5,11
Employment, wage rates, earnings, hours— 9,10
Consumer credit-16
Consumer expenditures
1,7
Consumers' price index
4
Copper
33
Copra and coconut oil
25
Corn
...
- 19, 28
Cost-of-living index (see Consumers1 price
index)
4
Cotton, raw, and manufactures
2,
4,5,10,11,12,13,14,38,39
Cottonseed, cake and meal, oil
25
Crops
--_
1, 2,4, 24, 26, 27
Currency in circulation
18
Dairy products
1,2,4,27
Debits, bank
15
Debt, short-term, consumer
16
Debt, United States Government
16
Department stores, sales, stocks, collections. _ 8, 9
Deposits, bank
15,18
Disputes, industrial
13
Distilled spirits.26, 27
Dividend payments and rates
1,19
Drug store sales
8
Dwelling units scheduled to be started
5
Earnings, weekly and hourly...
13,14,15
Eggs and poultry
1,4, 29
Electrical equipment
2, 7, 34
Electric power production, sales, revenues
26
Employment estimates
9,10,11
Employment indexes:
Factory, by industries
10,11
Nonmanufacturing industries
11
Employment security operations
_.
13
Emigration and immigration
23
Engineering construction
5
Exchange rates, foreign
17
Expenditures, United States Government
16
Explosives
24
Exports (see also individual commodities)
20, 21
Factory, employment, pay rolls, hours, wages.
9,
Failures, industrial and commercial
1__1..' * 3
Farm marketings and income
_
1, 2
Farm wages
14
Farm products, farm, and wholesale prices
2,4
Fats and oils
4, 24, 25
Federal Government,
finance
16,17
Federal Reserve banks, condition of
15
Federal Reserve reporting member banks
15
Fertilizers
4, 24
Fire losses
6
Pages marked S
Fish oils and
fish
24, 29
Flaxseed
25
Flooring
31
Flour, wheat
28
Food products
2,
3,4, 5, 7,8,10,11,12,13,14,17, 26, 27, 28, 29
Footwear..
___ 2,4,8,10,12,13,14,30,31
Foreclosures, real estate
6
Foreign trade, indexes, shipping weight, value
by regions, countries, economic classes and
commodity groups
._
20, 21, 22
Foundry equipment
34
Freight cars (equipment)
40
Freight carloadings, cars, indexes
22
Freight-car surplus and shortage
22
Fruits and vegetables
2,4,27
Fuel equipment and heating apparatus
33
Fuel oils
37
Fuels...
2,4,35,36,37
Furnaces
33,34
Furniture
2,4,10,11,12,13,14,15
Gas, customers, sales, revenues
26
Gasoline
37
Glass and glassware (see also Stone, clay, etc.)38
Gelatin
23
Gloves and mittens
...
—
31
Glue
24
Glycerin
24
Gold
17
Goods in warehouses...
7
Grains
4,19,27, 28
Gross national product
1
Gypsum
38
Heating and ventilating equipment
34
Hides and skins
4,30
Highways
5,11
Hogs
28, 29
Home-loan banks, loans outstanding
6
Home mortgages
-6
Hosiery
5,38
Hotels.
11,12, 23
Hours of work per week
12,13
Housefurnishings
....
.
4, 7, 8
Housing
-_
...
..
4, 5
Immigration and emigration
23
Imports
20, 21, 22
Income, personal
1
Income-tax receipts
...
16
Incorporations, business, new
-.
3
Industrial production indexes
....
2
Instalment loans
.
..
16
Instalment sales, department stores
8
Insurance, life
17
Interest and money rates
15
Inventories, manufacturers' and trade
3,9
Iron and steel, crude and manufactures
2,
3, 4,10,11,12,13,14,18,31,32
Kerosene
37
Labor force
9
Labor disputes, turn-over.
13
Lamb and mutton
29
Lard
29
Lead.
33
Leather and products
2,4,10,11,12,13,14,30
Linseed oil, cake, and meal
25
Livestock
1,2,4,28
Loans, real estate, agricultural, bank, brokers'
(see also Consumer credit)
6,15,19
Locomotives
...
40
Looms, woolen, activity
39
Lubricants
37
Lumber
2,4,10,11,12,13,14,31
Machine activity, cotton, wool
39
Machine tools..
10,11,12,14,34
Machinery
_
2,10,11,12,13,14,18,34
Magazine advertising
.
6,7
Mail-order houses, sales
8,9
Manufacturers' orders, shipments, inventories.
3
Manufacturing production indexes
2
Meats and meat packing
2, 4,10,12,13,14, 29
Metals
2, 4,10,11,12,13,14,18,33
Methanol..
24
Milk..
27
Minerals
2,10,11,12,13,14
Money supply
18
Mortgage l o a n s . . . . . . . . . . .
.
6,15
Motor fuel
37
Motor vehicles
...
7,40
Motors, electrical
...—
34
National product and income
..
1
Newspaper advertising
6, 7
Newsprint
35
New York Stock Exchange
19,20
Oats.
28
Oil burners
.
34
Oils and fats
4, 24, 25
Oleomargarine
25
Operating businesses and business turn-over..
3
Orders, new, manufacturers'
3
Paint and paint materials
4, 25
Paper and pulp
2,3, 5,10,11,14,35
Paper products
35
Passports issued
-_
23
Pay rolls, manufacturing and nonmanutacturing industries
11,12
Personal income
1
Personal savings and disposable income
1
Petroleum and products
2,
2, 3, 4,10,11,12,14,18,36,37
Pig iron
_
32
Plant and equipment expenditures
1
Plastic proaucts
26
Plywood
31
Pages marked S
Pork...
29
Postal business
7
Postal savings
.
.
16
Poultry and eggs
1, 4, 29
Prices (see also individual commodities):
Consumers' price index
4
Received and paid by farmers
4
Retail price indexes
4
Wholesale price indexes
.
4, 5
Printing
2,10,11,14,36
Profits, corporation
18
Public assistance
15
Public utilities
1, 4, 5,11,12,13,14,16,18,19, 20
Pullman Company
23
Pulpwood
35
Pumps
34
Purchasing power of the dollar
5
Pyroxylin coated fabrics
.......
40
Radio advertising
6, 7
Railways, operations, equipment, financial statistics, employment, wages
1,
11,12,13,14,15,17,18,19, 20, 22,40
Railways, street. (See Street railways, etc.)
Rayon, and rayon manufactures
2,
5,10,11,12,13,14,39
Receipts, United States Government
16
Reconstruction Finance Corporation, loans
17
Rents (housing), index
4
Retail trade, all retail stores, chain stores,
department stores, mail order, rural sales,
general merchandise
7,8,9
Rice
_
„
28
Roofing and siding, asphalt
37
Rosin and turpentine
24
Rubber, natural, synthetic and reclaimed,
tires, and tubes
37,38
Rubber industry, production index, shipments,
inventories, employment, pay rolls, hours,
earnings
2,3.10,12,14
Savings deposits
16
Savings, personal
1
Securities issued
18,19
Service industries employment
9
Sewer pipe, clay
38
Sewing machines
34
Sheep and lambs
..
28, 29
Shipbuilding
10,11,12,13,14
Shipments, manufacturers'
3
Shoes_
2,4,8,10,11,12,13,14,31
Shortenings
25
Silver
_
17
Skins
30
Slaughtering and meatpacking. 2,10,11,12,14, 27, 28
Soybeans, and soybean oil
25
Spindle activity, cotton, wool
39
Steel ingots and steel manufactures (see also
Iron and steel).
32,33
Steel, scrap
31,32
Stocks, department stores (see also Manufacturers' inventories)
9
Stocks, dividends, issues, prices, sales, yields 19, 20
Stokers, mechanical
34
Stone, clay, and glass products
2,
10,11,12,13,14,38
Stoves
34
Street railways and busses
11,12,13,14
Sugar.
29
Sulphur
.
24
Sulfuric acid
23
Superphosphate
...———
. . «.
24
Tea
30
Telephone, telegraph, cable, and radio-telegraph carriers
11,12,13,14, 23
Textiles
2,3, 5,10,11,12,13,14,38,39,40
Tile
38
Tin
33
Tires and inner tubes
37,38
Tobacco
2,4,10,11,13,14,30
Tools, machine
10,11,12,13,14,34
Trade, retail and wholesale
7, 8, 9,11,12,13,14
Transit lines, local
22
Transportation, commodity and passenger
22,23
Transportation equipment
2,
3,10,11,12,13,14, 18,40
Travel
22, 23
Truck trailers
40
Trucks
40
Turpentine and rosin
24
Unemployment and unemployment compensasation
9,13
United States Government bonds
16,18,19
United States Government,
finance
16,17
Utilities
4, 5, 9,11,12,13,14,18,19, 20
Vacuum cleaners
Variety stores
.
Vegetable oils__.
Vegetables and fruits
Vessels cleared in foreign trade
Veterans' unemployment allowances
34
8
24, 25
2,4, 27
23
13
Wages, factory and miscellaneous
13,14
War expenditures
16,17
War Savings Bonds
6
Warehouses, space occupied
7
Washers
_
34
Water heaters
34
Wheat and wheat
flour
19, 28
Wholesale price indexes
4, 5
Wholesale trade
9
Wood pulp
_ 2,5,35
Wool and wool manufactures
2,
5,10,11,12,13,14,40
Zinc
33
@FedFRASER