Full text of Survey of Current Business : February 1934
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FEBRUARY 1934 SURVEY OF CURRENT BUSINESS UNITED STATES DEPARTMENT OF COMMERCE BUREAU OF FOREIGN AND DOMESTIC COMMERCE WASHINGTON V O L U M E 14 NUMBER 2 The National Income? 1929-32 A short summary of the report on the national income which was recently presented to the United States Senate by the Bureau of Foreign and Domestic Commerce is presented on pages 17 to 19, inclusive. The complete report, which contains over 200 detailed statistical tables and numerous charts, is being printed as Senate Document :No. 124 and will be available in Government depository libraries. When printed this document will be for sale by the Superintendent of Documents, Government Printing Office, Washington, D.C. Number 2 F E B R U A R Y 1934 V o l u m e 14 W E E K L Y D A T A T H R O U G H J A N U A R Y 27, 1934 M O N T H L Y DATA THROUGH D E C E M B E R SURVEY OF CURRENT BUSINESS P U B L I S H E D BY U N I T E D STATES D E P A R T M E N T OF C O M M E R C E BUREAU OF FOREIGN AND DOMESTIC COMMERCE WASHINGTON CONTENTS SUMMARIES AND CHARTS Business indicators Business situation summarized Comparison of principal data, 1929-33 Commodity prices. Domestic trade. Employment Finance Foreign trade Real estate and construction Transportation Survey of individual industries: Automobiles and rubber Farm and food products Forest products. Iron and steel Textiles I Page 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 SPECIAL ARTICLE The national income, 1929-32 17 STATISTICAL DATA New and revised series: Canadian sales of ordinary life insurance; shipments of auto accessories and parts; registrations of new commercial cars; and airplane travel 20 Weekly business statistics 21 STATISTICAL DATA—Continued Monthly business statistics: Business indexes. Commodity prices Construction and real estate. Domestic trade Employment conditions and wages Finance v Foreign trade •• • •' Transportation and communications Statistics on individual industries: Chemicals and allied products Electric power and gas Foodstuffs 1 tobacco Fuels a>ducts f Leat iucts. Lumi.. <*nd manufactures Metal and manufactures: Iron and steel Machinery and apparatus. Nonferrous metals and products Paper and printing Rubber and products. Stone, clay, and glass products Textile products Transportation equipment Canadian statistics. Index of revisions made in December 1933 issue General index Subscription price of the SURVEY OF CURRENT BUSINESS is 31.50 a year, which includes the 12 monthly numbers, the 1932 annual supplement, and the 52 weekly supplements. Single-copy price: Monthly, 10 cents; weekly, 5 cents; annual, 40 cents* Foreign subscriptions, 33, including weekly and 1932 annual supplements. Make remittances only to Superintendent of Documents, Washington, D.C., by postal money order, express order, or New York draft. Currency at sender's risk. Postage stamps or foreign money not accepted 34969—34 1 ... Page 22 23 24 25 27 30 34 35 36 38 39 42 44 44 45 47 48 49 .. 51 52 52 54 55 56 Inside bark cover SURVEY OF CURRENT BUSINESS February 1934 Business Indicators 1923-25=100 ^INDUSTRIAL PRODUCTION 160 160 INDUSTRIAL PRODUCTION ^ MANUFACTVffES (ADJUSTED)91 ^MINERALS (ADJUSTED)^ 100 40 160 FACTORY EMPLOYMENT AND PAYROLLS 200 - CONSTRUCTION CONTRACTS AWARDED 40 TOTAL FREIGHT CAR LOADINGS 160 DEPARTMENT STORE SALES ZOO 160 160 FREIGHT CAR LOADINGS L.C.L. WHOLESALE PRICES -FARM PRODUCTS 100 •ALL COMMODITIES 40 VALUE OF EXPORTS 200 200 BANK DEBITS OUTSIDE NEW YORK CITY 200 160 {UNADJUSTED v-xv 100 1 0 929 1930 ADJUSTED FOR SEASONAL VARIATION 100 1931 1 93Z 1933 * REPORTING MEMBER BANKS VALUE OF IMPORTS FEDERAL RESERVE MEMBER BANK LOANS* SURVEY OF CURRENT BUSINESS February 1934 Business Situation Summarized statistics reveal an improvement in DECEMBER business activity, following several months of re- cession. Industrial production and freight-car loadings fell off by less than the usual seasonal amount, retail trade was higher, and foreign trade and construction contracts awarded recorded contraseasonal increases. Except for the construction industry, the December gains were not large, and there was a further slight decline in factory employment and pay rolls. Data available at this time on January movements are not sufficiently comprehensive to indicate definitely the extent of change for that month. Automobile production, although retarded by new model difficulties, has increased sharply.as compared with December. Steel-mill activity has not expanded as is usual in January, although operations are at a level considerably higher than in January 1933. The adjusted index of electric-power output, which rose during December, receded during the first 3 weeks of the year. Construction contracts awarded in the period, January 1-15, revealed a continuation of the favorable trend of recent months. The recession in output in both the manufacturing and mineral industries in December was less than usually occurs, and the combined index, adjusted for seasonal variations, advanced slightly over November. The marked curtailment in the textile industry and the recession in the foodstuffs industry, were important factors in the movement of the general index as several important industries, including steel, automobiles, and tobacco, recorded relatively large increases. Sales in retail stores during December increased by more than the usual seasonal amount. The adjusted index of department store sales was about 6 percent higher than in November, and daily average sales were 13 percent greater than in December 1932. Chain store and mail order house sales also showed fairly substantial gains over the corresponding month of last year. Although figures are not available on the aggregate physical volume of retail business, a comparison of dollar sales through the channels for which statistics are obtainable, adjusted for price changes, appears to indicate that the December volume was below the comparable 1932 figure. Commodity prices have undergone only moderate changes in recent weeks. The general level of wholesale prices averaged slightly lower in December, but the upward trend was resumed in January. Available data on retail prices also record only minor changes. After irregular movements in December, the stock market moved higher during January and particularly following the announcement of the new monetary moves of the Government. Bond prices moved rapidly upward during December and January with only a temporary interruption. Outstanding bank loans have not expanded in recent weeks, although excess reserves of the member banks have been maintained at an exceptionally high total. Fluctuations in the foreign value of the dollar have been relatively narrow during January, with the average quotation for the month in terms of the French franc around 63 cents. The capital-issue market has remained inactive. * Adjusted * Merchandise, I.c.I. Total J2~ ^ &•« s^ k It a « OB Year and month 1 i i GB «M fl g 1 1 1 ¥ If Is <* IS t3 £ § I & 1 1 •4 I |I1 1 p 1 Monthly average, 1926=100 Monthly average, 1923-25=100 1931' December 1932: December 1933: January February March April May June July _-_ August September October November : : December Monthly average: 1929 1930 * . . 1931* 1932 1933 Wholesale price index, 784 commodities ..• . . Unadjusted * Foreign Department store sales, trade, value, adjusted 2 value Freight-car loadings Construction contracts, all types, value, adjusted * Factory employment and pay rolls Industrial production Bank debits outside New York City MONTHLY BUSINESS INDEXES 68 60 66 58 79 72 74 66 73 64 84 76 69.4 60.6 55.8 40.9 61 52 69 58 77 64 83 69 143 106 82 60 46 33 48 30 86.7 65.0 38 28 68.6 62.6 64 64 60 67 80 91 96 90 85 78 72 69 63 63 58 68 80 93 97 89 84 77 70 67 71 76 74 65 76 82 89 94 93 88 84 80 65 63 60 66 78 92 100 91 84 77 73 74- 64 61 56 66 78 93 101 91 83 76 71 73 73 . 79 81 72 78 84 90 91 87 81 81 85 59.4 59.4 56.6 57.7 60.6 64.8 70.1 73.3 74.3 73.9 72.4 71.8 39.2 40.0 36.9 38.6 42.0 46.2 49.9 55.7 57.6 57.4 53.6 53.1 51 51 48 51 56 60 66 65 68 66 61 55 56 54 50 53 56 60 65 61 60 58 60 63 65 64 63 65 68 67 70 69 70 70 68 63 69 66 62 63 66 67 70 69 68 66 „ 67 67 49 49 50 68 67 64 49 59 73 77 75 121 60 60 57 67 67 68 70 77 70 70 65 69 31 29 28 29 32 36 43 38 40 42 42 .48 29 26 26 25 32 40 48 50 48 46 40 42 61.1 52.7 48.7 53.8 58.3 65.7 70.4 62.7 61.9 66.0 60.5 67.4 22 19 14 14 16 18 21 24 30 37 48 61 61.0 59.8 60.2 60.4 62.7 65.0 68. .9 69.5 70. 8 71.2 71.1 70. 8 101.1 87.8 74.4 62.0 66.2 107.7 87.4 66.0 45.3 47.5 106 92 • 75 56 58 3115 384 353 335 337 3113 379 3 54 334 337 140.2 117.2 91.9 65.2 60.8 117 92 63 28 27 119 115 119 96 95 99 81 84 80 64 63 71 76 76 81 1 Adjusted for number of working days. 2 105 97 87 72 67 Adjusted for seasonal variation. 111 102 92 69 67 3 Annual index. 3 3 3 3 95. 3 86. 4 73. 0 64. 8 366.0 4 SURVEY OF CURRENT BUSINESS February 1934 Comparison of Principal Data, 1929-1933 BANK DEBITS OUTSIDE NEW YORK CITY 150 200 (BILLIONS OF DOLLARS) 250 300 350 CONSTRUCTION CONTRACTS AWARDED -(BILLIONS OF DOLLARS) STEEL INGOT PRODUCTION - (MILLIONS OF TONS) . AUTOMOBILE PRODUCTION- (THOUSANDS OF CARS) FREIGHT CAR LOADINGS - (MILLIONS Of CARS) SUEVEY OF CURRENT BUSINESS February 1934 Commodity Prices The December decline in the wholesale price level was largely due to the widespread declines in the farm the first 3 weeks of January. The index of wholesale products and manufactured foods groups. Over one prices for the week ended January 20 stood at 72.3, half of the commodities which showed declines for the exceeding the 1933 high of 71.7 recorded in the third month were from these two groups. Livestock and week of November. The rise of 2.7 percent in whole- poultry prices decreased 7.8 percent and meat prices sale prices during the 4 weeks following December dropped 4.6 percent. The hides and leather products 23, more than offset the decline during the 5 preced- and the metals and metal products groups of commodiing weeks. At 72.3 the price index was at the highest ties recorded price gains due to marked increases in the price of hides and skins, iron and steel, and agripoint reached since the second quarter of 1931. Prices of products on the farm, which receded be- cultural implements. tween mid-November and mid-December, recovered December wholesale prices were 13 percent higher part of the decline in the succeeding month. Prices on the average than in the same month a year ago and of cotton, grain, apples, potatoes, cattle, and lambs were 18 percent above the low point of February 1933. have improved in recent weeks, while eggs have In the period from December 1932 to December 1933> declined seasonally, and prices of dairy products, prices of finished products rose 9.4 percent, prices of chickens, and hogs have remained low. raw materials increased 19 percent, and prices of semiThe National Industrial Conference Board's index manufactures went up 25 percent. This wide diverof the cost of living declined six tenths of 1 percent in gence is characteristic of the irregular movements of December, mainly by reason of the drop in food prices. the various components of our price level. ConsiderThe index was 8.1 percent higher than the low reached in ing the commodity groups the variations were even April and was also higher than in December 1932. The more pronounced, ranging from a 44 percent increase retail price index of department-store articles showed in the price of textiles over the year's interval to a 1.9 no change in December, which was the first month percent increase in the price of the chemicals and drugs since last April in which the index failed to increase. group. recessions in the month of December, FOLLOWING wholesale commodity prices moved upward during 8= Groups ala M r> ft«J 35 Tear and month i 1 !§ B& *t1 I I i! %v S3 I £ 1 f §1 1i 8 S-J2 M § £ •a •« C e« S 00 EB ! •3 6JD o 1•o S| So cei IM Ml 1 I 1 S "rt •M «> 8. •a"§ H as, A •¥» 9 g 1! o> i 1932 1933 Retail * 4» ' |! i§ •gfi §£ !~ w Mo. Dec. Mo. Mo. 1930 average, average, average, (Jan. 1909 to 1923= 1913= 1931) =1, 1914100 100 100 100 Monthly average, 1926=100 1931: December 1932: December 1933: January February. __ . March April .. .. May. June July August September October _ __ November December '.. Annual index: 192Q 1930 1931 .. Farm, combined Index, 27 commodities (Department of Agriculture) Wholesale (Department of Labor) Economic classes Cost of living (National Industrial Conference Board) INDEXES OF COMMODITY PRICES 68.6 62.6 73.3 68.4 60.2 63.7 52.1 57.7 55.7 44.1 47,0 31.7 69.1 58.3 63.2 49.4 72.3 69.0 75.7 70.8 76.1 68.3 72.3 69.3 79.8 69.6 78.5 73.6 82.2 79.4 60,8 53.0 66.8 63.4 83.1 75.1 66 52 114 99 83.5 71.8 61.0 59.8 60.2 60.4 62.7 65.0 68.9 69.5 70.8 71.2 71.1 70. 8 66.7 65.7 65.7 65.7 67.2 69.0 72.2 73.4 74.8 75.4 75.2 74.8 50.2 56.9 48.4 56.3 49.4 56.9 50.0 57.3 53.7 61.3 56.2 65.3 61.8 69.1 60.6 71.7 61.7 72.9 61.8 72.8 62.4 71.4 61.9 72.3 42.6 40,9 42.8 44.5 50.2 53.2 60.1 57.6 57.0 55.7 56.6 55.5 32.9 32.7 36.0 44.8 52.8 57.4 73.4 64.6 63.9 58.2 61.3 60.4 55.8 53.7 54.6 56.1 59.4 61.2 65.5 64.8 64.9 64.2 64.3 63.5 49.5 50.2 50.5 50.3 52.3 52.4 50.8 51.0 51.5 51.0 48.2 46.0 67.3 66.0 65.8 65,3 66.5 68.9 72.2 74.1 76.1 77.2 77.2 77.5 70.1 69.8 70.3 70.2 71.4 74.7 79.5 81.3 82.7 83.9 84.9 85.6 71.6 71.3 71.2 71.4 73.2 73.7 73.2 73.1 72.7 72.7 73.4 73.7 66.0 63.6 62.9 61.5 60.4 61.5 65.3 65.5 70.4 73.6 73.5 73.4 68.9 68.0 68.1 69.4 76.9 82.4 86.3 91.7 92.3 89.0 88.2 89.2 72.9 72.3 72.2 71.5 71.7 73,4 74.8 77.6 79.3 81.2 81.0 81.0 78.2 77.4 77.2 76.9 77.7 79.3 80.6 81.2 82.1 83.0 82.7 83.5 51.9 51.2 51.3 51.8 55.9 61.5 68.0 74.6 76.9 77.1 76.8 76.4 61.2 59.2 58.9 57.8 58.9 60.8 64.0 65.4 65.1 65. 3 65,5 65.7 73.7 72.1 71.8 71.5 72.1 72.8 75.2 76.9 77.9 78.0 77.8 77.3 51 49 50 53 62 64 76 72 70 70 71 68 95 91 91 90 94 97 105 107 107 107 107 106 71.1 69.9 69.7 69.4 70.4 72.3 76.1 82.5 86.0 87.1 88.0 88.0 95.3 86.4 73.0 64.8 65.9 94.5 97.5 88.0 84.3 77.0 65.6 70.3 55.1 70.5 56.5 93.9 104. 9 81.8 88.3 69.0 64.8 59.3 48.2 65.4 51.4 97.4 78.3 53.0 39.4 53.1 99.9 109. 1 90.5 98.4 74.6 75.4 61.0 58.2 60.5 50.0 91.6 85.2 75.0 70.2 71.3 95.4 94.2 89.9 89.1 79.2 79.3 71.4 73.5 77.0 73.6 83.0 78.5 67.5 70.3 66.3 109. 1 100.0 86.1 72.9 80.9 94,3 92.7 84.9 75.1 75.8 100.5 90.4 82.6 92.1 80.3 77.7 84.5 66.3 69.8 80,2 54.9 64.4 79.8 64.8 63.5 100.0 96.2 86.7 77.7 74.8 138 117 80 57 63 157 147 121 102 100 90.9 75.8 77,5 SURVEY OF CURRENT BUSINESS February 1934 Domestic Trade of goods through retail channels DISTEIBUTION continues to show gains in dollar volume over a Mail-order and store sales of 2 important companies increased about 19 percent to a total value of $61,971,year ago, and scattered reports indicate that January 000 in December. For the year as a whole the value sales showed somewhat less than the usual seasonal of mail-order-house sales was 4 percent above 1932, decline from December. Reports of retail orders taken at the New York Automobile Show have been unusually but 16 and 28 percent, respectively, below 1931 and satisfactory, while reports of individual dealers through- 1930. Sales of a comparable group of variety stores out the country indicate a high degree of public interest in December showed a gain of 6 percent over November and an increase of 11 percent as compared with a year in new models. Department-store sales advanced sharply in Decem- ago. Grocery chain-store sales were 4.3 percent greater ber as a result of holiday buying. Adjusted for sea- than in November and 2 percent above December 1932. sonal variations, the Federal Reserve Board's index New passenger-car sales were 47.2 percent less than in was about 6 percent higher than in November. Sales November and 9.7 percent below a year ago, a reflecwere approximately 7 percent above December 1932, and when allowance is made for the additional trading tion of the slow appearance of 1934 models rather than day in December of last year, the gain was about 13 a lack of buying interest. Freight-car loadings in less-than-carload lots depercent. However, prices of goods commonly sold in clined by approximately the usual seasonal amount. department stores averaged about 22 percent higher Since May this index has failed to record any signifithan in December 1932, cant change. The number of commercial failures was This class of trade as compared with a year ago slightly lower in December than in the preceding showed considerable variation among the 12 reserve month, while the liabilities involved were about 7 districts. Without allowing for the extra trading day percent higher. For the year 1933, both the number last year, sales in the Boston district showed no change from December 1932, while increases in the other dis- of failures and the liabilities involved were substantricts ranged from 4 percent in New York and Phila- tially lower than in 1932, a condition resulting from delphia to 21 percent in Atlanta, 22 percent in Kansas the improved trend of business and the very heavy mortality rate in the several preceding years. City, and 23 percent in Dallas. Lineage of newspaper advertising declined about 3 The Federal Reserve Board reports that departmentstore sales for the year as a whole were about 3 per- percent while that of magazine advertising decreased cent less than in 1932, with all districts except Dallas seasonally. For the year as a whole they were 9 and 12 percent, respectively, below the 1932 totals. showing smaller total values. DOMESTIC TRADE STATISTICS Wholesale trade Betaii trade Department stores Year and month Chain-store sales 3 Sales Stocks Unad- Adjust- justed i ed 2 Unad- Adjust- justed 2 ed Monthly average, 1923-25=100 1931: December 1932: December 1933: January February March April May June... July _ August _ September— _ October November December Monthly average: 1929 1930 1931 1932 1933 Employment Avg. same Monthly avermo. 1929- age, 1923-25= 100 31=100 Thousands of dolls. Monthly average, 1929=100 Pay rolls Commercial failures Unad- AdJust- justed 2 .ed Fail- Liabil- Maga- Newsures zine paper ities Monthly average, 1923-25= 100 Thou- MilNum- Thousands lions of ber ofsands dolls. of lines lines Advertising linage 143 106 82 60 73 56 77 60 79 279 226 144 117 58, 821 51, 556 83.7 77.0 77.8 62.6 77 64 83 69 2,758 73, 213 2, 469 64, 189 2, 170 1,641 77 61 49 49 50 68 67 64 49 59 73 77 75 121 60 60 57 67 67 68 70 77 70 70 65 69 52 54 55 55 56 56 56 62 73 77 78 63 58 57 54 53 55 57 60 64 70 70 69 65 80 76 75 78 78 82 86 84 85 84 83 88 100 103 110 129 126 125 123 129 137 141 136 253 135 138 121 140 130 137 142 139 151 132 130 135 26, 958 26, 176 27, 554 35, 365 37, 778 38, 986 33, 566 40, 327 43, 219 53, 550 52, 037 61, 971 75.3 74.1 73.1 73.3 74.0 75.7 76.9 79.7 82.1 83.5 83.4 83.3 61.7 58.6 57.1 56.0 57.4 57.3 59.1 60.8 62-. 3 66. 0 64.1 64.5 65 64 63 65 68 67 70 69 70 70 68 63 69 66 62 63 66 67 70 69 68 66 67 67 2,919 2,378 1, 948 1,921 1,909 1,648 1,421 1,472 1,116 1,206 1,237 1,133 79, 101 65, 576 48, 500 51, C98 47, 972 35, 345 27, 481 42, 776 21, 847 30, 582 25, 353 37, 200 1,116 1, 490 1,630 1,729 ,732 ,544 ,272 ,184 ,407 1, 870 1,899 1,791 52 47 50 60 62 61 49 54 62 70 66 64 84 83 164 160 157 135 134 61, 249 55, 225 47, 214 38, 344 39, 791 100.0 96.0 86.6 78.2 77.9 100.0 95.9 83.6 67.0 60.4 105 97 87 72 67 1,909 2,196 2, 357 2,652 1,693 40, 271 55, 690 61, 359 77, 359 41, 903 3,384 2,984 2,409 1,763 1,555 102 88 80 64 58 111 102 92 69 67 1 Mail order and store sales, 2 houses Com- Variety stores bined index Unad- Ad(19 com- just- justed ed panies) Freight-car loadings, merchandise I.C.I. 100 94 82 66 61 Corrected to average daily sales. 2 Adjusted for seasonal variation. s End of month figures. SURVEY OF CURRENT BUSINESS February 1934 Employment employment and pay rolls declined in FACTORY December for the third consecutive month. The usual seasonal tendency during this period is moderately downward and after allowing for this factor, employment in manufacturing establishments declined from September to December by 3.4 percent. Despite the falling off during the last 3 months of the year, the factory employment and pay-roll indexes in December were 19 and 30 percent higher, respectively, than in the same month a year ago. Employment was also higher than in December 1931. Factory employment in 1933 averaged 6.8 percent above the 1932 level, while factory pay rolls were 4.9 percent greater than in the preceding year. The year 1933 was marked by wide variations in the trend and extent of changes in the field of employment. In most industries employment and pay rolls declined during the first quarter of the year and in March reached the lowest level of the depression. During that month there were more persons unemployed than during any other month for which statistics are available. The following 6 months were characterized by a rapid upward swing which brought employment and pay rolls in September to higher levels than at any time since the middle of 1.931. Declines from November to December in factory employment and pay rolls of 2.2 percent and nine tenths of 1 percent, respectively, were only slightly more than the usual seasonal drop for the month. The largest gains during the month were recorded in the transportation equipment industries in which both employment and aggregate pay-roll disbursements increased 14 percent. Of the 89 specific industrial fields surveyed monthly by the Bureau of Labor Statistics, 25 reported increased employment in December. The three industries reporting the largest increases were automobiles, electric and steam railroad cars, and agricultural implements. The next three largest increases were reported for the shipbuilding, hardware, and engines-turbines-tractors industries. Sharp declines during December in the clothing industries were of seasonal character. Employment increased 15 percent from November to December in the field of retail trade due to the Christmas trade activity. In addition to retail trade, 5 of the 16 nonmanufacturing industries surveyed reported employment gains and 9 reported higher pay rolls for the month. The crude petroleum producing and the hotel industries both reported substantial advances in employment and pay rolls. The project of unemployment relief undertaken by the Civil Works Administration in December continued to afford direct empl6yment for some 4,000,000 persons during January. Arrangements were underway before the end of the month to extend this work for a short period beyond the original date of termination which had been set at February 15. STATISTICS OF EMPLOYMENT, PAY ROLLS, AND WAGES Factory employment and pay rolls, F.R.B. Employment Pay rolls Anthracite mining Bituminous coal mining Power, light, Telephone and water ' and telegraph Employment ployment Year and month EmUnad- Ad- Unad- ployjusted justedi justed ment Fay rolls , Monthly average, 1923-25=100 1931: December 1932: December _ 1933: January February—. „ March April __ __ _ May June July August September October ____ November December Monthly average: 1929 1930 1931 1932 1933 Wages Nonmanufacturing employment and pay rolls Fay rolls Em- Employment Fay rolls Fay rolls Retail 'trade. Employment Fay rolls Monthly average, 1929=100 TradeFactory 2 union memfeers employed Aver- Average age weekly hourly earn- earnings ings Percent Dollars of total members Common labor Cents per hour 67.9 59.6 69.4 60. 6 55.8 40.9 79.8 62.3 78.4 56.2 81.2 70.0 52.3 37.7 90.3 78.4 91.2 73.2 83.1 74.8 92.7 73.5 106.2 95.2 94.1 73.6 70 66 20.74 16.37 0.538 .467 33 32 58.1 59.2 56.7 57.8 60.0 64.1 68.9 73.4 76.6 75.8 72.6 71.0 59.4 59.4 56. 6 57.7 60.6 64.8 70.1 73.3 74.3 73.9 72.4 71.8 39.2 40.0 36.9 38.6 42.0 46.2 49.9 55.7 57.6 57.4 53.6 53.1 52.5 58.7 54.6 51.6 43.2 39.5 43.8 47.7 56.8 56.9 61.0 54.5 43.2 56.8 48.8 37.4 30.0 34.3 38.2 46.6 60.7 61.6 47.8 44.3 69.8 69.3 67.6 63.7 61.2 61.3 63.2 68.6 71.8 68.0 74.8 75.4 36.1 37.2 30.7 26.6 26.9 29.2 33.6 43.3 44.1 44.1 50.7 50.8 77.7 77.4 76.9 76.9 76.9 77.3 77.5 78.1 80.3 82.2 82.6 81.8 73.0 71.6 71.9 69.4 69.9 69.9 70.0 70.9 71.8 76.2 74.5 74.4 74.6 73.9 73.2 72.3 70.1 69.2 68.5 68.1 68.3 68.7 68.9 69.4 71.7 71.9 71.6 67.8 68.5 66.6 66.7 66.1 64.6 67.0 67.7 67.7 76.9 73.4 71.4 78.6 77.0 78.3 74.6 78.1 86.0 89.6 91.6 105.4 62.7 58.4 55.1 60.4 59.5 60.5 58.1 62.7 69.2 72.3 72.6 80.3 65 66 66 67 67 69 69 69 71 73 72 71 16.21 16.13 14.56 15.39 16. 71 18.49 19.15 19.25 19.46 19.46 18.51 18.58 .468 .464 .460 .460 .453 .452 .455 .497 .531 .540 .545 .548 32 32 32 33 33 33 34 35 37 37 38 38 107.7 87.4 66.0 45. 3 47.5 100.0 93.4 80.5 62.5 51.7 100.0 95.3 75.4 53.7 45.8 100. 0 93.4 83.2 67.4 67.9 100.0 81.3 57.5 35.6 37.8 100.0 103.0 95.6 83.0 78.8 100.0 104.3 96.7 79.8 72.0 100.0 97.9 86.6 79.1 70.4 100.0 102.9 93.7 81.1 68:2 100.0 95.9 89.4 80.9 81.7 100.0 96.2 86.6 69.4 64.3 88 79 74 68 69 28.54 25.90 22.60 .589 .589 .564 .497 .489 39 39 36 32 35 101 1 87.8 74. 4 62.0 66.2 1 Adjusted for seasonal variation. 2 National Industrial Conference Board. 17.10 17. 66 8 SURVEY OF CURRENT BUSINESS February 1934 Finance improvement in security prices, the GENERAL usual seasonal movement in money in circulation, a firming tendency in short-term money rates, and a further rise in the excess reserves of member banks have characterized financial markets in recent weeks. Overshadowing these factors was the President's budget message on January 4, in which he announced that it would be necessary for the Government to borrow before the close of the present fiscal year approximately $6,000,000,000 of new funds and an additional $4,000,000,000 to meet maturing issues. During December the trend of stock prices was erratic; but since the beginning of the new year, gains have predominated. Aside from the temporary weakness in the middle of December, bond prices have advanced steadily for the past 2 months, the gains in the " averages " over this period being about 10 percent. Brokers7 loans moved to appreciably higher totals during December, but the gains failed to continue after the first week of January. Loans and investments of member banks declined during the period under review, and excess reserves have continued to mount to new high levels. An Executive order of January 15 terminated the Reconstruction Finance Corporation's sale of its notes for gold and transferred the gold-purchase function to the Treasury. Simultaneously, the President sent to Congress a proposed bill providing for the fixing of permissible limits within which any ultimate revaluation of the gold dollar would take place. Under its provisions these limits would lie between 50 percent of the present gold parity, the maximum devaluation provided for in the act of May 12, 1933, and 60 percent which is provided in the new bill as the upper limit. In accordance with these provisions, the Treasury established its daily buying price of gold on January 16, at $34.45, thus bringing quotations in line with the upper limit of proposed revaluation. Foreign quotations on the dollar moved downward following this announcement, but the range for the month was relatively narrow. The value of the dollar, in terms of the French franc, averaged about 63 cents. The proposed legislation would also authorize the President to control the value of the dollar with a view to stabilizing domestic prices and protecting foreign trade. It provides for acquisition by the Treasury of the gold held by the reserve banks through exchange for gold certificates, thus permitting the Treasury to realize the profits of devaluation. Directly related to this profit is the provision whereby $2,000,000,000 would be set aside as a "stabilization fund" to be employed by the Treasury whenever necessary for the purchase of gold, foreign currencies, and Government securities in maintaining the stability of the dollar within the limits provided. Of outstanding importance among financial developments was the initiation of the guaranty of bank deposits on a Nation-wide scale. The temporary guaranty provisions of the Glass-Steagall bill of June 16, 1933, went into effect on January 1. Purchases of preferred stock and capital notes of banks by the Reconstruction Finance Corporation, made largely for the purpose of strengthening the capital structure of the banks in enabling them to meet the eligibility requirements of the Federal Deposit Insurance Corporation, aggregate approximately $900,000,000. CREDIT AND BANKING STATISTICS Reserve banks, end of Reporting member Condition of Federal month banks, Wednesday closest to end of Bank month * Reserve bank credit outstanding debits Memoutside New ber United Total bank Year and month York Loans Bills Bills bought States deposits reserve City All Inon dis- in the GovernvestTotal countacsecuri- other open ment loans ments count ties ed market securities Total banker's acceptances outstandin gs end, of* month Net gold imDePostal ports Savings, in- Money posits, New balcluding in York ance to gold circu- State credit lation savings of dereleased banks positors from earmark 2 Thousands of dollars Millions of dollars 1931: December __ 1932: December 1933: January February March. . _. April May . . June July August September. October November December __ 17, 112 12, 820 3,789 5,082 7,910 1,853 2,145 638 235 339 33 817 1,855 2,125 2,561 1,961 2,509 974 710 33.9 171.9 5,611 5,699 5,255 5,314 605, 112 900,796 12,053 10, 401 9,608 10, 612 11, 509 12, 969 13,878 12, 375 12,215 13, 027 11, 927 13,388 3,751 3,727 3,644 3, 698 3,713 3,748 3,772 3,766 3,687 3,604 3,569 3,620 5,031 4,554 4,688 4,706 4,772 4,704 4,774 4, 767 4,853 4,989 4,999 4,765 7,974 7,619 7,669 7,884 7,941 8,213 8,011 8,074 7,989 8,156 8, 104 8,300 2,077 2,794 2,572 2,459 2,218 2,220 2,209 2,297 2,421 2,549 2,581 2,688 274 582 426 435 302 164 167 153 128 116 119 98 31 336 305 171 20 48 9 7 7 7 24 133 1,763 1,866 1,838 1,837 1,890 1,998 2,028 2,129 2,277 2,421 2,432 2,437 2,554 2,236 2,133 2,380 2,394 2,494 2, 544 2,675 2,748 2,885 2,796 3,865 2,446 2, 141 1,949 2,132 2, 167 2,292 2,294 2,409 2,438 2,685 2,573 2,729 707 704 671 697 669 687 738 694 715 737 758 764 37.0 -169.4 113 3 23.7 1.0 .3 .6 -.9 -7.4 -5.5 —.5 3.7 5,631 5,892 6,998 6,137 5,876 5,742 6,675 5,616 5,632 5,656 5, 681 5,811 5,317 5, 269 5,220 5,164 5, 113 5,130 5,085 5,059 5,079 5,049 5,029 5,064 943, 377 1,007,080 1, 113, 922 1, 159, 795 1, 180, 336 1, 187, 186 1,176,6691,177,667 1, 180, 667 1, 189, 581 1, 199, 281 1,209,435 * 90 cities. 2 Net exports indicated by (-). 9 SURVEY OF CURRENT BUSINESS February 1934 Foreign Trade exports and imports increased about 4 perBOTH cent in value during December, which was contrary to the usual seasonal trend. Ordinarily, the value of exports falls off about 8 percent in December, while the value of imports declines 1 percent. Heavy receipts of spirits and wines, which were valued at $10,880,000 in December, were responsible for the increase in the import value. Total imports exclusive of beverages declined by more than the usual seasonal amount. Larger shipments of a wide range of commodities contributed to the gain in exports. Leading commodities exported in larger quantities during December and the respective increases in value over November were as follows: Unmanufactured tobacco, $7,000,000; automobiles, including parts and accessories, $2,000,000; wheat, $1,900,000; furs and manufactures,$1,600,000; sawmill products, $1,200,000; iron and steel-mill products, $1,100,000; and canned fruits, $600,000. Raw cotton exports, following the usual seasonal pattern, declined $4,500,000. Other large decreases included dried and evaporated fruits, $2,000,000; coal, $1,900,000; and petroleum products, $1,800,000. For the year 1933, exports increased 4 percent and imports 9.6 percent in value. The quantity of exports was approximately the same as in 1932, but imports were about 10 percent larger. Despite the increase in prices during the latter half of 1933, the unit value of exports for the year as a whole advanced only slightly. The average unit value of imports was approximately the same as in 1932. Notable factors in the increase in the value of exports as compared with 1932 were the advance in prices of raw cotton and the increase in quantity shipments of crude petroleum, iron and steel-mill products, and lumber. Mainly by reason of larger sales of automobiles and rubber tires, exports of finished manufactures registered a gain during the latter half of 1933, which was sufficient to bring the total to a position 4 percent above the 1932 level. The reduction in wheat exports from 55,000,000 bushels in 1932 to about 8,000,000 bushels in 1933 was the most important factor in the drop of about 45 percent in crude food exports. A decrease of about one third in wheat flour exports was the major cause of the reduction of about 2 percent in the quantity of manufactured food exports. The increase in imports last year was due chiefly to our purchases of crude materials and semimanufactures which were 12 percent and 27 percent, respectively, greater in quantity than in 1932. Leading commodities increases were as follows: Flaxseed, 75 percent; hides and skins, 79 percent; wood pulp, 31 percent; tin, 80 percent; nickel, 112 percent; unmanufactured wool, 216 percent; diamonds, 22 percent; and fertilizers, 38 percent. Crude foodstuffs approximated in quantity the imports in the preceding year, while manufactured food imports were about one eighth larger. The quantity of finished manufactures imported was approximately the same as in 1932. EXPORTS AND IMPORTS Indexes Exports of United States merchandise Exports, inTotal Total cludeximing Year and month ports, ports, reex- Total ad- ports adjusted^ justed i ! 1931: December-. 1932: December. 1933: January February March . April May - -June -July August September October November December Yearly totals: 1929 1930 1931 1932 1933 - Total Raw cotton Finished manufactures Foodstuffs SemiAutoCrude Food- SemimoFruits manma- stuffs man and ufacMa- biles, Total terials uf acTotal prep- tures Total chin- parts, tures araery and tions accessories Monthly average, 1923-25 =100 Finished manufactures Millions of dollars 46 33 48 30 184.1 131.6 180.8 129.0 68.4 52.2 47.4 39.0 27.1 16.0 6.6 4.8 20.6 15.7 64.7 45.0 17.6 9.7 8.0 5.1 153.8 97.1 49.8 28.7 36.6 28.2 25.3 16.7 42.0 23.4 31 29 28 29 32 36 43 38 40 42 42 48 29 26 26 25 32 40 48 50 48 46 40 49 120.6 101.5 108.0 105.2 114.2 119.8 144.2 131.5 160.1 193.9 184.3 193.6 118.6 99.4 106.3 103.1 111.9 117.5 141.7 129.3 157.5 191.7 -181.3 189.8 42.3 31.8 29.4 28.6 35.0 40.3 51.5 42.0 63.6 82.5 71.3 73.1 29.7 20.6 18.1 16.9 26.1 29.3 36.8 28.2 45.3 54.3 48.8 44.3 16.2 12.8 13.4 11.3 13.0 13.4 15.4 16.9 18.7 23.5 24.1 34.3 4.6 3.8 3.9 2.9 3.8 2.9 4.3 5.6 6.8 11.0 9.7 8.3 15.8 13.2 16.5 15.3 17.6 18.2 21.4 20.5 21.3 24.6 24.2 38, 5 44.3 41.5 47.0 47.9 46.2 45.7 53.4 50.0 53.9 61.1 61.8 63.9 9.2 8.5 9.4 8.8 9.1 9.3 10.1 10.9 11.7 13.5 16.0 15.9 6.5 6.3 6.9 7.4 7.4 7.0 7.5 8.1 8.3 8.6 7.3 9.3 96.0 83.8 94.9 88.4 106.9 122.3 143.0 155J) 146.7 150.9 128.5 133.3 27.2 21.1 23.6 21.1 24.9 34.3 46.4 50.7 48.3 46.9 37.3 36.3 30.7 30.0 33.6 32.8 40.0 36.9 38.8 35.4 31.2 34.8 30.6 43.1 16.2 13.6 14. 8 13.5 18.3 27.8 31.0 35.2 33.5 33.2 27.8 37.3 21.9 19.1 22.9 20.9 23.6 23.3 26.8 33.7 33.6 36.0 32.8 37.7 2115 2114 84 53 235 2 37 279 254 234 237 5, 241. 0 3, 843. 2 2, 424. 3 1,611.0 1, 675. 9 5, 157. 1 1, 142. 4 3.781.2 829.1 2', 378. 0 566.8 1, 576. 2 513.7 1,648.1 591.4 770.8 496.8 325.7 345. 2 398.4 753. 9 541.2 373.9 241.5 203.0 136.0 109.7 108.2 76.5 67.6 729.0 2, 531. 8 512.8 1, 898. 1 317. .6 1, 119. 7 624.2 196.7 616.7 337.1 606.8 515.5 316.8 131.7 133.4 541. 4 279.1 148. 1 76.3 90.6 4, 399. 4 1, 558. 6 3, 060. 9 1, 002. 2 642.2 2, 090. 6 1, 322. 8 358.3 418.0 1,449.6 962.2 693.6 527.1 406.9 U8.9 885.1 608.2 372.0 217.0 393.1 993.5 757.0 549. 3 340.6 333.3 2 2 1 34969-34-—2 Crude materials General imports Adjusted for seasonal variation. 2 Annual index. 10 SURVEY OF CURRENT BUSINESS February 1934 Real Estate and Construction operations during 1933 did not share BUILDING the marked improvement which occurred in most but only one fifth of the amount of such undertakings in 1929. In January, contracts awarded continued to show improvement. Contracts amounting to $102,000,000 were let in the first half of the month, a total considerably in excess of the $83,000,000 total for the entire month of January 1933. Residential awards amounted to $8,300,000, and nonresidential building, $31,200,000. December contracts were the largest for any month since October 1931. Residential contracts during that month were nearly twice as large as in December 1932. Progress in highway construction carried on with the aid of National Recovery Act funds has been continuous since the Government program started late last summer. In December, projects under way involved 10,500 miles with an estimated cost of $159,575,000. Nearly one fourth of the work was completed by the end of the month. No long term real estate bonds were publicly floated in 1933, excepting a relatively small amount issued in February, and the usual channels of private financing have been the source of only a limited amount of funds. Shipments of building materials were seasonally lower in December, although the major series continued to show some improvement over a year earlier. Operations in the building supply industry, however, remained at a relatively low level at the end of the year with the Public Works and Civil Works program contributing the major source of support. other major lines of activity. Contracts awarded in the last 6 months of the year, however, showed a substantial increase, primarily as a result of public works undertakings. The value of awards in that period was 90 percent greater than in the first half of the year, and was 20 percent above the corresponding months of 1932. The increase over a year ago in these latter months, however, was insufficient to offset the severe decline which occurred in the first half of the year and the total value of contracts in 1933 for the 37 States included in the Dodge Corporation statistics, amounting to $1,256,000,000, remained slightly below the relatively small 1932 total of $1,351,000,000. The value of contracts awarded in 1929 was more than four and a half times as large as in 1933. Public works activity has been an increasingly important factor during the depression. Whereas in 1929 these contracts comprised only 16 percent of all reported operations, by 1933 their relative value had advanced to 40 percent, and in the final quarter of last year it was over 55 percent. On the other hand, except for a slight rise during 1931, the relative value of residential building showed a decline during this period. In 1929, the value of this type of construction accounted for one third of all activity, and in 1932 and 1933 the ratio had declined to one fifth. The value of public utility contracts awarded in 1933 was 27 percent higher than the drastically reduced total for 1932, BUILDING MATERIALS, CONSTRUCTION, AND REAL ESTATE Building material shipments Construction contracts awarded Year and month F.R.B. index adjusted * All types of construction Residential building Monthly Num- MilMilMilaverage, ber of of lions of lions of 1923-25= proj- lions square dollars dollars 100 ects feet 1931: December 1932: December 1933: January February . March April- _ _ _ __ _ May June July August September _. _ . . October November. December Monthly average: 1929 . 1930 1931 1932 1933... _ 1 Public utilities High ways under construction Construc- Longtion term ExploNasives, realFederal tional costs, new Eng. estate Aid Indus- News- bonds Pub- orders Maple Oak Cefloor- floor- ment High- trial lic Rec- issued ing ing works Reways Act covery ord 2 Act Millions of dollars Thou- Thousands of Thousands of feet, board sands of measure barrels pounds Thousands of dollars Monthly av- Thouerage, sands of 1913= dollars 100 38 28 5,951 4,205 137 81 8.8 3.4 36.2 13.0 11.0 6.5 39.5 36.9 19, 518 18,985 1,928 1,590 12, 976 4,327 4,142 2,835 216, 850 250, 978 166.2 158. 5 3, 185 200 22 19 14 14 16 18 21 24 30 37 48 61 3,800 3,884 6,303 7,254 9,409 9,186 8,229 8,186 7,596 7,476 6,332 7,677 83 53 60 57 77 103 83 106 120 145 162 207 3.2 3.1 4.8 5.8 8.4 8.3 7.4 6.4 6.3 6.9 6.4 5.9 12.0 11.8 16.0 19.1 26.5 27.8 23.6 21.9 21.5 21.5 23.6 33.9 8.0 4.7 2.5 2.4 5.6 5.0 4.1 19.4 3.4 7.0 6.9 34.0 34.7 12.5 15.1 11.2 13.4 19.4 14.8 32.0 57.3 85.7 104.1 99.2 17, 971 16, 510 16, 179 16, 197 16, 497 20, 327 23, 834 25, 086 25, 107 25, 084 23, 256 23,318 1,496 1,318 1,246 2,097 2,715 4,384 4,326 3,386 2,622 3,.236 2,300 3,334 4,433 6,074 7,573 9,479 14, 549 17, 723 13, 676 12, 793 9,563 8,624 10, 017 6,417 2, 502 2,278 3,510 4,949 6,709 7,979 8,697 5,994 6,517 6,750 4, 463 3,738 252, 372 260, 185 265, 678 269, 489 260, 736 242, 107 222, 452 191, 040 158, 443 34, 962 121, 709 92, 215 90, 368 134, 491 159, 575 158.4 159.3 158.4 160.2 164.4 163. 4 165.5 167.0 175.5 187. 7 190.1 193.1 0 900 0 0 0 0 0 0 0 0 0 0 117 92 63 28 26 14, 348 11, 272 9,184 6,344 7,111 479 377 258 113 105 32.3 19.2 15.9 6.1 6.1 159.6 91.8 67.6 23.3 30.8 43.7 58.4 24.6 6.3 8.6 77.9 80.3 73.0 42.9 41.6 40, 383 35, 410 27, 120 18, 959 20,781 5,734 3,600 2,974 2,177 3,697 37, 058 24, 985 21, 423 10, 342 10, 077 14, 120 13, 229 10, 539 6,715 5, 341 233, 430 255, 619 303, 835 229, 780 207.0 27,823 202.9 14, 256 181.4 9,574 157. 0 306 170.3 ..... ,75 Based on 3-month moving average and adjusted for seasonal variation. 2 First of month. Jan. 1, 1934 index 191.3. 11 SURVEY OF CUREENT BUSINESS February 1934 Transportation T? HEIGHT moved by the railroads in December JF declined by less than the usual seasonal amount, and the adjusted index advanced for the second successive month. The December index was the highest of the year with the exception of July, and was about 6 percent higher than in the final month of 1932. The trend of traffic in the first 3 weeks of January showed no marked variation from the level of the preceding month, although the tendency was slightly upward. The improvement in loadings in December was mainly the result of the sharp gain in the adjusted index of miscellaneous loadings, which advanced about 8 percent above November. Four of the other seven groups, including coal, were lower than in November. Coke and ore were the groups, aside from miscellaneous, recording increases, while the index of l.c.l. loadings was unchanged. Pullman passengers carried in December were 7 percent above December 1932. As a result of the increase in freight traffic in 1933, which amounted to about 2.8 percent, the operating statistics of the roads reveal some improvement over 1932. Roads with 8 percent of the mileage of the class I carriers failed to earn their fixed charges in 1933, compared with 52 roads with one fifth of the mileage in 1932. The improved returns in net operating income were possible by reason of the continued rigid control of operating expenditures since gross operating revenues from all sources were 1.2 percent less than in 1932. Revenues from freight traffic were up 1.7 percent, but there was a further shrinkage of revenues from passenger, mail, express, and other sources. ,Net income of the carriers, however, amounted to about $470,000,000, an increase of nearly 50 percent over the preceding year. This income was equivalent to a return on the property of the carriers of about 1% percent. Notwithstanding the higher level of earnings in the past year, and the assistance of governmental agencies in meeting their financial obligations, receiverships were numerous and involved several companies with a considerable mileage. The mileage of roads in the hands of receivers at the end of 1933 was 42,400, according to the statistics of the Interstate Commerce Commission. This was approximately double the corresponding total at the end of 1932. The necessity for the carriers to hold their expenditures down to a minimum was reflected in the lack of activity in the railroad supply business. The normal channels of meeting their financial requirements have remained closed and the capital needs of the carriers have been financed mainly by the Government. Such assistance has been largely confined to caring for refinancing, although an allotment of $135,000,000 from the public works fund has been made for loan to the roads for construction and the purchase of necessary equipment. Actual expenditures by the class I roads for maintenance of way and equipment in the 11 months ended November were $848,000,000, compared with $898,000,000 in the preceding year. $ T Year and month 1 f 1 P 1 1 1 1 "8 £ & I Monthly average, 1923-25= 100 1931: December 1932: December 1933: January February March April May June July August September October November December Monthly average: 1929 1930 _ 1931 1932 1933 _ . 1 __ Daily average basis. « OB 4s F.R.B index i P rt 53 1 •a |23 1 « fa £ « i % Thousands of cars * 69 58 555.0 496.7 115. 4 125.0 5.8 5.6 17.0 13.2 27.1 26.5 21.0 16.6 178.4 155.1 51 51 48 51 56 60 66 65 68 66 61 55 56 54 50 53 56 60 65 61 60 58 60 63 477.6 489.5 460.3 500. 9 532. 0 566.3 621.8 625.7 640.9 651.4 591.5 513. 1 107.1 123.1 91.4 79.5 79.6 90.5 112.1 123.5 125.0 125.0 125.5 114.1 5.2 6.2 4.5 3.4 3.8 4.9 6.6 6.7 7.0 6.7 6.4 6.7 13.7 13.7 14.6 17.2 20.8 25.1 26.8 27.2 24.7 24.4 23.4 18.1 26.6 25.3 26.0 35.5 37.0 36.7 44.9 29.6 31.2 29.8 30.9 35.9 17.2 15.4 13.0 16.5 16.6 15.5 15.0 16.6 20.3 23.2 20.5 15.1 153.4 154.6 156.1 160.5 165.3 163.6 166.4 170.0 168.4 172.6 166.7 148.5 1, 015. 9 879.2 714.4 541.9 556,9 174.9 151. 9 124.9 102.7 108.0 12.2 9.3 6.3 4.3 5.7 62.5 45.2 28.3 17.3 20.9 46.1 43.4 38.9 31.8 31.8 27.3 254.0 24.7 234. 1 22.3 210.6 18.3 174.4 17.0 163.1 2 05 £ 61 52 106 92 75 56 58 OB J3 For seasonal variation. s Financial statistics I M >.z ;n iii Thousands Thousands of dollars Thousands of short tons fcfi* <«§ »! 1!-! ill fc fi 186.7 152.9 751 647 1,677 1,248 27, 618 28,500 32, 857 8,400 1.8 152.6 1.8 149.4 2.0 152.7 3.2 185.2 7.7 201.2 11.1 219.0 22.1 227.8 34.2 217.9 36.8 227.6 27.8 242.0 7.4 210.7 3.9 181.9 692 650 681 619 553 454 393 398 380 385 441 46.3 1,158 952 872 974 951 1,201 1,224 1,351 1,592 1, 256 1,054 1,333 13, 266 9,855 10, 548 19, 041 40, 693 59, 483 64, 307 60, 978 60, 936 57, 265 37, 566 38,300 235 467 615 692 509 2,786 2,447 1, 915 1,312 1,143 106,211 73, 735 44, 829 27, 245 37,353 3.5 1.7 43.9 31.9 16.8 4.1 13.5 American vessels, both direction. 395. 1 338.7 266. 4 189.1 198.0 4 Canal traffic 1 35 g 1 X 1 H3 1 1 Pullman Freight-car loadings passengers carried RAIL AND WATER TRAFFIC Average weekly basis. '« Thous. of long tons 292 215 0 744 587 10,500 8,000 11, 300 11, 500 1,425 2, 950 16,500 4,900 6,800 18, 200 2,000 5,700 0 0 0 696 3,490 3, 582 6,050 7,690 8, 452 7,154 3,022 173 0 0 0 183 542 479 473 623 517 593 664 560 623 72-4 664 783 779 823 1,002 961 1, 082 964 39, 033 42, 525 36, 742 18, 625 7,356 11,577 9,112 5,577 2,560 5,039 411 515 532 520 583 5 1, 239 s 11 months' average. 5 1, 114 5872 5654 «815 12 SURVEY OF CURRENT BUSINESS February 1934 Automobiles and R u b b e r R O D U C T I O N of automobiles was gradually Pincreased during January as the mechanical diffi- Retail sales of cars in the latter half of the year held up particularly well in agricultural areas, and culties retarding the production of new models were in some States, such as Texas and North Carolina, overcome. Output for the month is expected to exceed the peak month of new passenger-car registrations the total for the corresponding month of 1933 although was in October. the number of cars assembled by several of the major Exports of automobiles increased last year for the companies will be considerably below original schedules. first time since 1929. Passenger cars exported exRetail sales of new passenger cars, which declined ceeded the volume shipped in 1932 by 5 > percent, sharply in December, were also very low in January while the increase in truck exports amounted to 74 peras dealers in many instances were not in a position to cent. Since dollar prices on cars were not moved up deliver new models. until the 1934 models were announced and then by December output was considerably below the corre- only a moderate amount, foreign buyers enjoyed a sponding month of 1932 when new model assemblies substantial reduction in prices in the last three quarters were much further advanced. Truck assemblies were of the year due to the decline in the exchange value of higher than a year earlier, as the major 1934 lines were the dollar. Preliminary estimates of tire production in 1933 in production. Employment and pay-roll totals in the industry were about 16 percent higher than in Novem- indicate an increase of more than 10 percent over 1932. ber, and these indexes were 30 and 36 percent higher, Reports of employment by the leading tire manufacrespectively, than a year earlier, notwithstanding the turing companies during January indicated a sharp pickup in activity. Since the automobile industry is lower output as compared with December 1932. planning on a substantial increase in the first quarter Production during the year 1933 was substantially over the production in the same period of 1933, sales higher than in the preceding year when output dropped for new equipment are expected to be well above the to approximately one third of the 1923-25 average. level of the opening months of 1933. Passenger car assemblies during the year showed an Domestic consumption of crude rubber in 1933 was increase of 41 percent; truck output was half again as large; and the number of taxicabs produced was three at the highest level since 1929, and was 23 percent greater than the 1932 figure. The volume of crude times the small total reported in 1932. Although total output of automobiles in 1933 was rubber imports was only slightly larger than in 1932, 43 percent larger than in the preceding year, it and the increased consumption resulted in a reduction was only slightly more than one third as much as in in the crude stocks held in the United States. World 1929. Nevertheless, the volume of business realized stocks of crude rubber, however, continued to increase permitted the industry to report substantial profits. and at the end of the year were at a record high level. AUTOMOBILE AND RUBBER STATISTICS Automobile exports Automobile production Canada United States Tear and month F.R.B. index, Total adjusted' Monthly average. 1923-25 =100 1931: December 1932: December 1933: January February March April May June July August September ... . October November December __ __ __ Monthly average: 1929 1930 1931 1932___ 1933 Passenger cars Taxi- Trucks cabs Total Thousands Passen- Trucks ger cars New passenger car registrations Automobile financing By Retail whole- pursale chasdealers ers Millions of dollars Number Pneumatic tires Crude rubber DoDo- mestic World Pro- mestic Im- stocks, conduc- ship- sump- ports end of tion ments tion, month total Long tons Thousands 66 60 122 107 97 86 1,144 291 23,644 21,204 2,432 2,139 5,753 2,757 3,333 2,221 77, 564 45,683 29 20 50 27 2,115 1,586 2,171 1,405 19, 696 53,818 15,631 32, 016 619, 906 621,078 48 33 27 44 51 ' 66 70 61 56 46 32 47 130 107 118 181 218 253 233 236 196 138 64 84 108 91 99 153 185 211 195 195 161 108 43 53 5 152 660 411 54 35 4 68 9 63 1,611 1,299 21, 718 15, 333 18, 064 27, 317 33,605 41, 839 38, 065 41, 343 35, 182 30,412 19, 475 30, 145 3,358 3,298 6,632 8,255 9,396 7,323 6,540 6,079 5,808 3,682 2,291 3,263 7,059 5,521 5,528 5,662 5, 093 4,757 5,546 6,516 6,330 5,906 3,527 3,066 3,084 3,136 2,528 2,656 2,445 2,478 3,582 3,792 4,614 5,567 3,176 6,460 79, 821 69, 464 78, 741 119, 909 160, 242 174, 190 185, 660 178, 661 157, 976 136, 326 94, 180 58,000 30 28 28 41 55 57 58 70 51 39 18 17 31 29 34 45 58 66 65 71 63 58 44 33 1,806 1,871 1,630 2,499 4,151 4,880 4,571 3,995 3,199 2.743 2,432 2,011 1,764 1, 616 .2,874 4,077 4,320 4,324 3,674 2,714 1,943 1,686 19, 928 18, 825 15, 701 22, 817 38, 785 44,654 43, 660 39, 097 31, 047 27, 758 25, 371 35,306 30, 663 22,969 28,475 21, 034 26, 736 23, 504 45,243 45, 413 46, 255 46, 034 41, 821 40, 751 614,851 618,299 622, 142 617, 490 620, 586 632, 565 619, 752 603, 711 619, 019 624, 516 635,893 645,000 135 85 60 35 48 447 280 199 114 163 381 231 164 95 134 1,466 745 503 93 364 64, 252 47, 603 34, 721 19, 599 29,375 21, 941 12,849 6,885 5,068 5,494 28, 287 12, 756 6,871 3,453 5,376 16, 397 7,043 4,021 2,080 3,637 323, 354 218, 832 159, 013 91, 367 134,430 56 55 46 28 41 135 100 79 45 50 a 4, 776 s 3, 502 ° 3, 353 s 2, 771 *3,071 o 4, 612 9 3, 480 o 3, 312 a 2, 727 "3,818 35, 235 28, 567 26, 756 24, 006 29, 412 46, 985 40, 544 41, 816 34, 556 34, 908 306, 541 434,996 549, 360 611, 240 623, 819 1 Adjusted for seasonal variations. ff Eleven months' average. 13 SURVEY OF CURRENT BUSINESS February 1934 Farm and Food Products A CCORDING to preliminary estimates of the / % Department of Agriculture, gross farm income approximated $6,400,000,000 in 1933, including the estimated benefits distributed by the Agricultural Adjustment Administration. This income, which, shows a marked improvement over 1932, was otherwise the lowest for any year for which data are available back to 1909. The increase in gross income from crops was largely responsible for the increase in farm income, as income from livestock and livestock products about equaled the 1932 figure. The acreage of field and truck crops harvested in 1933 was about 9 percent lower than in 1932. This decrease was caused to a certain extent by the failure of 14,000,000 acres of winter wheat, bad weather at planting time, drought, and the taking out of cultivation of 10,000,000 acres of cotton. Processing of foodstuffs for 1933 was well above the average for the past 2 years and was equal to the 1930 results. After increasing in the second and third quarters, activity fell off in the final quarter and the adjusted production index in December was only slightly higher than the low of the year. Employment in the industry also declined in the final quarter of 1933, in consonance with the trend of production. The recession was moderate, however, and the number employed in December was 13 percent greater than in the final month of 1932. Consumption of food products has been well maintained through the depression, and the difficulties experienced in marketing have been largely due to extreme price declines, the low level of exports, and excessive supplies. Stocks of foodstuffs in storage at the end of the year, with very few exceptions, were higher than a year earlier. Cold storage holdings of all meats and products totaled 775,000,000 pounds. This was 34 percent greater than the same period of 1932, and was 7 percent above the 5-year average (1929-33). The visible supply of corn was the highest on record. Wheat stocks provided an outstanding exception to the trend as the small 1933 crop resulted in a reduction by the end of 1933 to the lowest level since 1927. Stocks of dairy products remain unusually high. Butter in storage on January 1, 1934, amounting to 111,000,000 pounds, was considerably above a year ago. Stocks of cheese, although reaching a lower level than at the end of November, were the greatest yearend inventory on record. Cold storage holdings of poultry were 11 percent higher than at the end of 1932. The quantity of exports of agricultural products, exclusive of cotton, increased about 18 percent from November to December, chiefly as a result of an increase in foreign shipments of wheat and tobacco. Unmanufactured cotton exports declined 11 percent, in accordance with the usual seasonal trend. For the year 1933, the quantity of agricultural exports dropped about 10 percent below the volume in 1932 and reached a new postwar low level. The dollar value of agricultural exports in 1933 showed an increase of 6 percent as compared with 1932. FOODSTUFFS STATISTICS Food products Agricultural marketings ! •§3 F.B.B. indexes Year and month •S-, .2* S-S +B B~ I H 51 Is &5 i 1 .« £" s *! fi 1 1 £ MonthMonthly aver- ly aver- Monthly average, 1923-25= age, age, 1923-25= 1926= 100 100 9<& £" -a'i •i m 1if 1 « •§£ &&$ "•• 3s .sg<s > Millions of bushels 100 1931: December 86.3 97 1932: December 84 80.0 1933: January 88 79.6 February 84 79.2 March 84 78.4 April 81.2 101 , May 99 82.6 June 100 82.3 July 100 83.6 August 95 89.7 September 105 93.9 93.4 October 85 92 92.8 November December 90.3 86 Monthly average: 1929 97 99.7 94.7 1930 93 1931 88.5 90 1932. _ 87 82.0 S3 85.6 1933 »Adjusted for seasonal variation* 69.1 58.3 55.8 53.7 54.6 56.1 59.4 61.2 65.5 64.8 64.9 64.2 64.3 _ 62.5 99.9 90.5 74.6 61.0 60.5 2 Kevised* Corn Wheat Animals and animal products i £ § r Dollars Mil- Dollars per lions of per bushel bushels bushel VL a ea % i 1 bf) & Thousands Meats Butter 2 Con- Stocks, cold sump- stortion, appar- end of ent month sumption, appar- Imports () Conent Millions of pounds 1B CO £ i 8. Thou- Thousands of long ofsands bags tons 95 84 96 81 14 14 221 169 .60 .46 11 12 .39 .22 1,453 1,162 4,210 3,123 1,080 1, 014 736 620 139 134 217 174 1, 203 945 70 52 55 60 81 81 87 69 126 166 119 76 81 69 76 86 103 102 95 100 111 87 92 85 13 10 13 16 23 29 37 27 23 18 12 11 158 148 137 126 119 125 135 150 153 150 139 130 .48 .48 .53 .64 .73 .78 1.00 .92 .89 .84 .87 .83 13 13 10 17 26 34 46 14 21 27 22 17 .23 .22 .26 .33 .39 .40 .52 .50 .44 .38 .43 .43 ,318 ,136 ,171 ,296 1,558 1, 449 1,456 1, 657 1,653 2,178 1,699 1,343 3,381 2,699 2,638 2,798 3,143 3,361 2,871 3,917 6,494 2,521 3,207 3,332 1,061 919 993 1,030 1,107 1,095 1,051 1,159 1, 163 1,205 1,160 1,042 717 751 749 780 865 1,049 1,146 1, 104 940 739 772 908 129 123 129 134 161 129 133 143 139 144 135 139 258 289 430 536 491 426 488 269 285 235 214 136 i,osa 22 39 .90 95 150 1.21 110 21 .79 35 169 .92 93 101 14 .64 .49 93 37 215 97 13 .31 84 23 187 .55 84 139 .38 91 ' 19 .75 22 87 Earlier data may be found on ps 19 of June 1933 issue* 911 1, 109 922 1, 187 977 865 1,128 834 1, 019838 1,U4 1,068 463 1,703 3,675 1,058 130 936 1,681 3,398 1,029 853 1, 010 378 134 142 357 > 1,099 871 1,635 3,295 1,043 139 948817 1,444 2,919 1,030 335 877 137 l,00t 338 1,494 3,364 1.082 a includes receipts from Hawaii and Puerto Rica. 14 SURVEY OF CURRENT BUSINESS February 1934 Forest Products OLLOWING marked declines in new orders and Fproduction of lumber during the final 2 weeks of 1933 which carried the indexes far below the peak levels of the year, statistics for the early weeks of 1934 reflected gains in both production and shipments. Production during the first 3 weeks of January was about a third higher than the output during the same period last year. Production has exceeded the volume of new orders continuously since the middle of November, although the ratio of orders to production has improved since mid-December. The sharp reduction in stocks earlier in the year, however, was responsible for a better inventory position at the beginning of 1934 than a year earlier. Lumber production in December was the same as in November, but the seasonally adjusted index advanced 6.7 percent. Production in December was 60 percent above the year's low in February but 30 percent below the high of July and August. As compared with the corresponding months of 1932 and 1931, the December index showed a gain of 39 percent and 14 percent, respectively. Lumber exports increased sharply in December and exceeded the November figure by 34 percent. The 98 millions of feet exported was the largest volume shipped abroad in any 1 month since August 1931, and the total was nearly double the volume exported in February of last year. Lumber prices continued to move upward in December and the rise has been uninterrupted since January 1933. Whereas the general price level of all commodities fell off during November and December, the price of lumber increased 1.7 percent. The January to December rise in lumber prices of 57 percent was equal to more than three times the gain recorded in the combined index of wholesale prices and was one of the largest increases recorded for any major commodity during the year. Employment and pay rolls declined in December in this industry relatively more than in all manufacturing industries combined. After adjustment for seasonal variations, employment dropped 2.5 percent. Pay rolls fell 8.3 percent. Both indexes show considerable improvement over the March low. In that month, pay rolls dropped to 14.3 percent of the 1923-25 monthly average which was the lowest point reached by any of the industrial groups included in the Federal Reserve Board's indexes. The year 1933 witnessed extremely wide variations in the activity of the lumber industry. The levels of February and March in production, employment, and pay rolls were well below the depths reached in most other industries, but the rise during the summer and fall months generally exceeded the gains of other industries. Physical production and pay rolls more than doubled from the year's lows in the spring to the high points of October and November. Employment also moved upward rapidly and wholesale prices almost doubled. For all these series the 1933 monthly averages were higher than the corresponding figures for 1932. FOREST PRODUCTS STATISTICS Southern hardwoods General operations LumEmber ployproduc- ments tion, adad- justed* lusted i Year and month Car- LumNaval load- ber exings, ports, Fay stores, marforest all rolls, ketings prod-2 types unaducts justed Thousands of cars 90.4 17.0 13.2 70.3 Production UnNew filled orders orders . 1930 1931 1932 1933 „__ 1 28 23 45.4 36.8 31.2 18.8. 26 20 22 24 30 38 46 46 36 33 30 3% 35.0 34.4 32.5 33.3 35.7 40.0 43.8 46.6 49.4 49.9 47.9 46.7 16.3 16.3 14.3 15.6 18.0 21.7 24.6 28.9 33.1 33.5 30.0 21.5 31.7 23.0 32.9 69.4 122.2 134.6 135.3 125.3 101.3 98.5 81.0 73.7 13.7 13.7 14.6 17.2 20.8 25.1 26.8 27.2 24.7 24.4 23.4 18.1 • 91 64 41 25 32 88.2 69.1 52.2 38.7 41.4 90.6 65.8 41.5 22.1 '33. 3 125.1 122.4 106.4 74.2 86,0 62.5 45.2 28.3 17.3 20,9 Adjusted for seasonal variation. Household furniture 3 Southern pine UnProfilled ProNew 2 orders, duc- orders duction « end of tion month UnUn- Ship- filled New filled orders orders ments orders, end of month Number days' production Millions of feet, board measure Monthly average, 1923-25=100 1931: December 1932: December 1933: January.. February March.. April May June.. -. . . July August . September October NovemberDecember Monthly average: 1929 Douglas fir . 90 68 86 49 105 68 367 252 20.5 16.4 23.0 21.2 85.5 85.1 78 -75 73 68' 51 44 11 6 12 6 71 50 68 75 89 95 95 78 76 80 73 98 60 60 64 71 79 90 98 146 238 230 226 247 135 169 165 150 143 131 135 233 184 128 128 128 143 71 264 240 208 200 211 234 218 23.4 24.4 21.1 28.8 34.4 35.0 49.0 37.7 34.2 33.0 25.6 26.4 24.3 28.3 33.6 57.3 49.5 38.6 24.5 32.8 29.5 32.9 120.9 109. 7 107.9 120.4 195.2 203.7 218.9 105.6 112.8 116.4 120.9 85 78 87 89 116 121 126 133 114 104 103 96 96 76 113 113 180 159 120 118 98 91 91 73 57 55 64 67 92 88 81 71 60 55 55 53 6 7 5 6 6 6 10 13 13 13 9 7 7 5 5 5 7 11 17 18 18 12 , 9 74.9 56.5 38.6 22.5 75.5 56.3 41.8 26.6 317. 6 204.4 145.9 85.1 226 132 93 104 210 147 111 111 146 86 63 67 25 18 14 9 8 48 24 16 10 10 198 147 103 70 79 2 Weekly average. 3 Grand Rapids district. 15 SURVEY OF CURRENT BUSINESS February 1934 Iron and Steel Industry steel-ingot production indicated a considerable portion of the deliveries represented a withdrawal from expiring in the last quarter, early January advances in stocks on hand. Practically all branches of the iron and steel industry steel-mill operations fell short of the usual seasonal improvement. Scheduled activity was curtailed in made notable progress in 1933. While the percentage the week ended January 29, with operations dropping increases over the record low levels of 1932 made an to 32.5 percent of capacity, as compared with the impressive showing, a comparison of activity with the January peak of 34.2 reached in the preceding week. high levels of 1929, and even the initial depression Production during the month, according to the weekly year of 1930, indicates that operations in 1933 were estimates, was below the December level. Support still at a relatively low point. Production during the continues to come primarily from miscellaneous year was at 55 percent of the 1923-25 average level. sources. Placements during January by industries Export markets absorbed over twice the tonnage of usually supplying the bulk of support to the industry iron and steel shipped in the preceding year. The continued relatively small. Delays in new model number employed by the industry averaged 10 percent production adversely influenced the volume of orders higher in 1933 than in 1932, and the amount paid out from the automobile manufacturers. Railroad and in wages increased 30 percent. Employment and pay public-utility specifications likewise have been slow rolls in December were approximately 8 and 6 percent in developing. higher, respectively, than during last July, notwithThe increase in steel-ingot production during standing the sharp drop in productive activity during December, amounting to 18 percent, was the first to the intervening months. occur in that month since 1927, and not since 1928 Among the miscellaneous sources which have conhas the tonnage of pig iron increased in this period. tributed to recent tonnage have been the implement, The stepping up of schedules was reflected in the 30 hardware, and certain sections of the machinery inpercent increase in the Federal Reserve Board's dustries. Activity in the machine tool industry, for adjusted index of production. As a result of the example, has picked up to a marked extent in recent pressure for deliveries before the new quarter's higher months, partly as a result of export orders. Accordprices became effective, shipments continued heavy ing to the data collected by the National Machine throughout December. The increase over November Tool Builders7 Association, new orders in December in the tonnage of finished products shipped by the were the largest since September 1930. A little more United States Steel Corporation amounted to 40 than half of the new business reported for the month percent. The smaller relative advance reported in was for foreign shipment. the substantial rise in December FOLLOWING occasioned by heavy deliveries against contracts IRON AND STEEL STATISTICS General operations Iron and steel Em- Pay Produc- ploytion, ment, rolls, Ex- Imadunad- ports ports ad- justed justed i justed i Year and month Monthly average, 1923-25=100 1931: December 1932: December 1933: January February March April Mav June July A ugust September _ _ October November December Monthly average: 1929 1930 1931 1932 __ _ 1933 _ ._ _ __ _ .. . . 1 Pig iron Produc- FurIn naces tion blast Thousands of long tons Number United Stee! ingots Steel sheets 2 States Prices Steel Corporation, Iron Steel Steel Finished Pro- Per- New Ship- finished, and billets, scrap steel, duc- cent or- ments prodsteel, Bessemer (Chicomcom- (Pittstion ucts, ders of cago) posite shipposite caburgh) ments pacThou ' ity Dollars sands Thousands of Long Dollars per long ton per 100 of long short tons tons pounds tons 30.32 28.80 24 1,301 2.16 100 103 351, 211 7.80 28.93 26.00 2.14 77 5.25 861 15 67 227, 576 42 28 65.4 52.8 41.0 24.2 57 54 26 29 980 546 56 42 30 31 22 35 49 72 100 80 66 61 * 47 61 50.6 51,4 48.3 50.0 52.5 58.1 66.3 73.2 74.7 73.6 72.0 71.4 57 22.7 64 24.7 22.4 81 100 24.4 29.5 I 123 36.2 103 42.4 1 88 52.7 i 119 49.0 109 165 49.3 44.4 158 44.8 185 22 20 22 28 26 34 53 47 56 47 29 31 569 554 542 624 887 1,265 1,792 1, 833 1,522 1,356 1,085 1,183 45 45 38 48 63 90 106 98 89 79 76 75 1,030 1,087 910 1, 363 2, 002 2,598 3,204 2,901 2,313 2,112 1,541 1,820 18 21 16 25 34 48 59 49 41 37 27 33 76 81 83 119 144 247 174 159 145 79 88 110 79 73 75 100 119 153 174 174 164 175 99 in 285, 138 275, 929 256, 793 335, 321 455, 302 603. 937 701, 322 668, 155 575, 161 572, 897 430, 358 600,639 28.69 28.31 28 35 28.16 28 45 28.73 29 81 30 01 31 30 31.59 31.59 32.43 26.00 26. 00 26.00 26.00 26.00 26. 00 26.00 26.00 26. 00 26.00 26.00 36.00 5.25 5.25 5.25 6.00 8.45 8 91 10. 41 10.45 9.84 9.33 8.56 8.94 2.12 2.10 2.10 2.06 2.08 2.09 2.17 2.17 2.20 2.26 2.26 2.31 130 94 60 31 55 98.9 87.1 71.7 56.0 61,8 106.0 253 84.4 165 55.4 81 28.4 50 36.9 , 113 62 45 35 32 35 3,524 2,617 1,523 724 1,101 203 148 88 52 71 4,526 3,274 2,099 1,110 1,907 89 63 38 20 34 317 223 150 88 125 321 218 158 91 125 i 968, 691 639, 729 331, 172 480, 079 36.49 33. 56 31.16 29.46 29. 79 34.66 31.84 29.36 26. 52 ' 26. 00 14.79 12.06 8.89 6. 25 8.05 2.54 2.32 2.20 2.15 2.16 Adjusted for seasonal variation. 9 Black, blue, galvanized, and full finished. 16 SURVEY OF CURRENT BUSINESS February 1934 Textile Industry Monthly average, 1923-25= 100 1931: December 1932: December 1933: January.. _. February March _ _ April May June July August September October November December Monthly average: 1929 1930 88 91 - 1931 1932 1933 . 1 Millions of Thousands of yards spindle hours 415, 401 5,957 55, 791 76, 981 440, 439 6,386 79, 175 81, 933 Running bales 87 83 76 85 108 133 130 114 99 91 89 ,78 470, 182 441, 203 495, 183 470, 359 620, 561 697, 261 600, 641 588, 570 499, 486 503, 873 475, 368 348, 393 115 91 94 83 98 587, 491 448, 149 453, 655 418, 084 517, 590 Monthly av- Thouerage, sands of 1926= pounds 100 Percent of active hours to total reported Wholesale price, raw, Japanese, 13-15(NewYork) Spinning spindies Narrow looms 1 Operations, machinery activity Broad looms Looms Narrow Spinning spindles Silk Deliveries to mills Wool manufactures Worsted Wool W h o l e s a l e price, woolen and worsted goods STATISTICS Consumption * Stocks, end of month Production Cotton cloth finishing « Wholesale price, cotton goods Cotton and manufactures Spindle activity, total Tear and Month Cotton, raw Mill consumption Production index, adjusted t TEXTILE While cotton consumption in December dropped to the lowest figure since July 1932, the total for the year was the largest since 1929 and was nearly one fourth in excess of the total for 1932. Spindle activity dropped to 74 percent of capacity in December on a single shift basis compared with 96 in November and a peak of 129 in June. The reduction in operations was fairly uniform in the New England States and the cotton growing States, with the average spindle hours per spindle in place dropping 25 percent for all regions. Weaving and finishing operations were also curtailed during the month. Wool manufacturing activity followed the general trend of the industry, with the operations of all classes of machinery sharply lowered. Combing operations were reduced by 26 percent, and while spinning activity was not reduced to the same extent the active hours of operation were much less than in November, and were generally lower than in December 1932. Wool consumption was the smallest since April, and was 8 percent below the level of a year ago. Silk mill activity fell off in December, and the general curtailment of production ordered on December 22 was effective for 30 days. Raw silk deliveries to mills were the smallest for any month since the middle of 1924, and for the year were 15 percent lower than in 1932. Total deliveries last year were also the smallest for any year since 1924. Activity in rayon mills was reduced in line with the general movement. Woolen R EFLECTING the general curtailment of activity for the purpose of reducing stocks and thus bringing supply into closer relationship with demand, the December statistics record a sharp drop in output in all branches of the textile industry. Certain restrictions placed into effect by the code authorities also applied to January operations; however, there was a sharp pick-up in the cotton goods industry. The adjusted index of production for December dropped 12 percent, to 78 percent of the 1923-25 average, the lowest figure since last March. Despite the gradual lowering of textile mill operations in the latter half of the year, most branches of the industry made distinct progress as compared with 1932. The silk industry failed to improve during the year, due to the further contraction in demand, and December silk mill operations continued at an extremely low level. Raw silk deliveries to mills were substantially lower than in December 1932, while stocks of finished goods mounted to a point that necessitated the 25-percent cut in machine activity ordered by the code authority in December. Raw silk prices have tended to reflect the lack of demand and, following the sharp rise in June and July, dropped rather steadily until by December they were substantially below the level of a year ago. The cotton, wool, and rayon industries recorded extensive improvement during the year as a result of greater demands and an improved price trend. Monthly av- Bales of Percent of active hours Dollars per erage, 133 to total pound 1926= pounds 100 56.4 51.7 31, 625 36, 532 39 55 48 57 25 33 44 58 63.9 54.2 48, 432 40, 548 89.4 83.2 41.8 34.2 51.7 55.5 1.970 1.550 88, 300 HO. 097 93, 773 82. 272 95, 746 80. 446 74, 463 80. 7fi5 88, 278 81 740 100. 479 75, 395 90, 106 72, 909 75, 329 82, 943 57, 471 92. 301 71, 669 103,371 64, 334 103, 574 50.1 49.1 50 0 50.7 57.9 67.1 80.2 93.5 91.3 88.8 86.0 85.5 35, 510 33. 278 24. 943 28. 701 4fi. 898 58, 688 57, 377 55. 694 50, 467 56 57 32 35 72 92 96 83 69 59 68 43 42 66 87 97 87 73 62 64 57 53.4 53.2 53.2 53.3 61.5 68.8 72.3 78.9 82.7 84.5 84.4. 84.3 89.7 80.6 56.6 59.2 75.4 74.8 82.9 37.2 36.8 36.3 42.2 46.0 53.0 53.2 56.8 48,9 38.2 49.8 52.3 62.8 78.4 1.305 1.201 1.182 1.324 1.586 2.155 60 46 36 36 28 29 46 53 54 51 48 41 39 27 46, 204 32, 665 38, 934 41, 910 47, 151 53, 627 43, 466 33, 570 59 60 42 53 77 100 108 99 82 68 63 54 8,325 75, 202 83, 078 6,390 59, 252 74, 774 6,484 67, 904 73, 273 98.8 84.7 66.1 54.0 71. 2 48, 797 35, 842 42, 812 32, 127 43, 302 78 56 57 50 72 67 54 62 50 B4 61 41 38 27 41 64 48 56 50 67 88.3 79.0 68.2 57.7 69.3 6,791 6,286 7,050 6,570 8,329 9,299 8,128 7,942 7, 058 7,261 6, 796 5,095 5, 855 7,217 Adjusted for seasonal variation* 68, 504 74, 117 51,037 2 Printed only (mill and outside). 44,597 42, 852 31, 185 28,521 51, 646 48, 519 46, 152 39, 119 3 1.881 1.889 L647 1.465 1.416 34, 822 26, 959 49,574 2.273 100.3 92.1 86.6 67.0 64.4 48.8 42.5 42.1 Grease equivalent. 65.3 63.5 52.3 46.5 4.933 3.415 2.401 1.561 1.610 17 SURVEY OF CURRENT BUSINESS February 1934 The National Income, 1929-32 UR economic system carries on two types of processes at the same time. It produces commodities and services of utility to consumers, and it distributes incomes to those contributing to the productive processes. These incomes form the purchasing power with which the products are acquired. Thus the flow of economic goods and of incomes goes on continuously. The measurement of these two activities, either the total of goods and services produced, or of incomes distributed, is called the national income. In periods of relative stability, the measurements on the two bases are approximately equal, but in times of considerable fluctuation in economic activity, they may be quite dissimilar. O National Income, Paid Out and Produced Percentages of 1929 Millions of dollars Item 1929 1930 1931, 1932 48, 952 81,040 75, 438 63, 289 Income paid out __. Business savings or losses.... 1,998 -4, 955 -8, 639 -10, 603 38.349 Income produced 83, 037 70, 484 54,652 U.S. Bureau of Labor Statistics cost of living index U.S. Bureau of Labor Statisi _ tics wholesale price index ( 1930 1931 1932 93.1 78.1 60.4 84.9 65.8 46.2 97.4 88.9 80.4 90.7 76.6 68.0 NOTE.—Subject to minor corrections. The detailed measurement of the national income over a period of time provides an indication of the functioning and development of the economic system. When studied in detail, the estimate indicates not only the general trend, but shifts as among the various industries and the comparative payments made by industry for the different types of productive effort and facilities utilized. During the past few years, the United States in common with most other countries has experienced a marked recession of business activity from the high tide of 1929. Consequently, estimates of the final net National Income Paid Out, By Types of Payments Percentages of 1929 Millions of dollars Item Salaries (selected industries) i_ Wages (same as in line 1) * Salaries and wages (all other industries) Total labor income 2 _ Dividends Interest _ ._ _ Total property income 3 Net rents and royalties Entrepreneurial withdrawals— Total entrepreneurial income. _ Total income paid out 1929 1930 1931 1932 1930 1931 1932 5,702 17, 180 5,660 14, 209 4,738 10, 541 3, 382 6,839 99.3 82.7 83.1 61.4 59.3 39.8 29, 129 27, 902 52, 867 48, 688 5,963 5,795 5,687 5,826 12, 215 12, 238 3,835 3,237 12, 121 11, 275 15, 956 14,512 81, 040 75,438 24,759 41,027 4,311 5,662 10,508 2,494 9,259 11, 753 63, 289 20, 367 95.8 31,595 92.1 2,590 97.2 5,506 102.4 8,489 100.2 1,691 84.2 7,181 93.0 8,872 91.0 48, 952 93.1 85.0 77.6 72.3 99.6 86.0 65.0 76.4 73.7 78.1 69.9 59.8 43.4 96.8 69.5 44.1 59.2 55.6 60.4 1 Include mining, manufacturing, construction, steam railroads, Pullman, railway express, and water transportation. 2 Includes also employees' pensions and compensation for injury. 3 Includes also net balance of international flow of property incomes. Note.—Subject to minor corrections. 34969—34 3 product of industry in the form of income have become of special importance as an indication of the extent of the contraction and its impact upon the various industries and occupations and upon the different factors of production. The total income distributed to individuals, according to a recent study 1 amounted in 1929 to 81 billion dollars. By 1932 this had declined to 49 billions, a drop of 40 percent. The total income produced in terms of goods and services amounted to about 83 billion dollars in 1929 and declined drastically to 39 billion dollars, about 54 percent in the 4-year period. The estimates of income produced and, therefore, the net differences between this item and the amount distributed by economic enterprises, are subject to a considerably larger margin of error than the data for income paid out. However, some significant conclusions are tentatively indicated by these estimates. In 1929 the difference between the flow of production and Income Paid Out, by Industrial Divisions Percentages of 1929 Millions of dollars Item 1929 1930 1931 Agriculture. -. 6,361 5,720 4,517 Mining ._ 2,123 1,779 1,278 Electric light and power and 1,503 1, 461 gas _ 1,306 18, 157 16, 141 12,490 Manufacturing 3,135 2,825 1,896 Construction Transportation _. _ . 6,660 6,202 5,236 912 C ommunications 943 887 9,103 11, 238 10, 424 Trade . 10, 060 9,278 7,948 Finance 6,456 6,763 6,792 Government 8,643 6,959 8,198 Service 5,913 4,913 6,288 Miscellaneous Total 1932 1930 1931 1932 3,459 837 90.0 83.8 71.0 60.2 54. 8 39. 4r 1,216 115.1 111.9 93.1 8,373 88.9 68.8 46.1 864 90.1 60.5 27.6 4,020 93.1 78.6 60.4 797 103.4 97.3 87.4 7,326 92.8 81.0 65.2 6,144 92.2 79.0 61.1 6,797 104.8 105.2 105. 3 5,434 94.9 80.5 62.9 3,804 94.0 78.1 60.5 93.1 78.1 60. 4r NOTE,—Subject to minor corrections. the flow of income distributed amounted to nearly 2 billion dollars in favor of income produced, indicating that this amount was retained by business enterprises in the form of surplus and additions to assets. In subsequent years, however, industry paid out into the various income streams an amount that was in excess of the net value created under the above definition, By 1932 the amount paid out in excess of the income produced had mounted to over 10 billion dollars. In other words, in large areas of the economic system,, enterprises paid out in wages, dividends, interest, rents, and the like, more dollars than they received for the goods and services which they produced. Such with1 Prepared for the United States Senate by the Bureau of Foreign and DomesticCommerce, with the cooperation of the National Bureau of Economic Kesearch, The 1932 data are preliminary. The estimates here presented are, insofar as possible, for the Continental United States. Certain items that might be classified as income under concepts other than those employed by the investigators have been excluded from the totals presented, i.e., imputed income from ownership of durable goods (including owned homes), the imputed value of services of housewives and other members of the family, earnings from odd jobs, relief and charity, earnings from' illegal pursuits, and changes in value of assets not derived by groups professionally occupied in the handling of assets. 18 SURVEY OF CURRENT BUSINESS drawals represent a draft upon previously accumulated surplus and assets and are possibly derived in part from the creation of new debt obligations, which would be in effect a withdrawal currently of anticipated future income. For corporations alone the excess paid out amounted to about 7 billion dollars; this was almost three times the net dividends paid and the major portion must, therefore, have gone to sustain other payments, such as salaries and wages and interest. There was, even in 1929, a considerable difference between the various industries in the extent to which they were accumulating reserves or making income payments in excess of current income produced. The manufacturing industry and agriculture led in the accumulation made in 1929, while finance and mining distributed net amounts greater than the sums of income each produced in that year. In 1932 the greatest volume of payments in excess of amounts of |income created during the year were made by INCOME BY FORM OF PAYMENT the manufacturing, agricultural, trade, and finance industries. The extraordinary extent of the contraction in distributed income in the 3 years subsequent to 1929 can be only partially accounted for by money value fluctuations. When a rough allowance is made for the price factor by correcting for the fall in purchasing power with the Bureau of Labor Statistics cost-of-living index, the decline to 1932 is found to have been fully a fourth. The shares in the total income going to labor, entrepreneurs, and property owners are presented in table 2. Salaries and wages and other labor income (compensation for injuries and pensions) accounted for 65 percent of the total in 1929. The "withdrawals of individual entrepreneurs" is a term used to cover such individuals as farmers, small storekeepers, and the like, who combine in a single person management and labor, and sometimes landlord and capitalist. This section of the national income, which cannot segregate the INCOME BY FORM OF PAYMENT ALL INDUSTRIES BILLIO NS OF DOLLARS 90 80 February 1934 V s NET RENTS & ROYALTIES NET INTERNATIONAL ALPA/D OUT ^\\ 70 TOTAL Pi 1ODUCED^\. 60 0^.^^ 50 LABOR INCOM ^ / ^^x \ IV\ \ '\ 40 X \ \> \\ % 30 OTHER SALARIES AND WAGES WAGES* (Selected Industries] ,. SALARIES * (Selected Industries] I9Z9 1930 1931 20 10 PROPERTY //V( :OME 10 EXCESS PRODUCED 0 o— ..— o •»«><•» — L • « «. «o«. „^'j* EXCESS WITHDRAWN ENTREPRENEURIAL WITHDf-lAWALS*^ -" *"*""*o 10 NET RENT AND ROYALT 'INCOME \ ° -i o 20 O 1929 I 1930 193! 1932 D.D.7438 £> # For /ndusfr/es for which a segregation or sa/ar/'es and w&jes is possible. D.D.7476 . SURVEY OF CURRENT BUSINESS February 1934 return for labor on the part of the individual and the return for his investment and enterprise, accounted for 15 percent. Between 1929 and 1932 both of these shares declined somewhat as a proportion of the total paid out. Interest and dividend payments combined accounted for another 15 percent of the total in 1929, while net rents and royalties made up the remaining 5 percent. The interest and dividend totals include a correcting item adjusting for the net international flow as between the United States and other countries. The total movement of income distributed obscures some very significant differences in trends among the different types of payment. Disbursements in the form of salaries and wages and other labor income declined about 40 percent from 1929-32, while payments distributed to property owners in the form of interest and dividends fell off only 30 percent in this period. Entrepreneurial withdrawals declined by about TREND OF INCOME PAID OUT BY FORM OF PAYMENT PERCE ^fr 120 MO __..o 100 ^••v^ «JO ^^Si,-.. ^^T^ ^ 1" -0 INTEREST <S 80 *«^_ ^••^^ TO 6O 50 "^^O;--." >: ^S; , ' '"v ^^ft^^ - TOTAL LABOR ^VssJOowf X _• „ ENTREPRENEURIAL '"**^**£ROWlTr£S & ^••MomOfNOS 40 0 1989 i— ' 1930 1931 i • - - I93a * For the same extent as salaries and wages. The trend in this latter iiem is strongly influenced by the income of farmers, who account for over half of all individual entrepreneurs and almost half of total entrepreneurial income. In the industries for which salaries paid and wages paid could be separated—namely, manufacturing, mining, construction, and some branches of transportation—there was a greater rate of decline than in the total of these items for all industries; but the separate trends are perhaps representative of the difference in the behavior of these items, and afford an interesting comparison. In the 4 years under review, salaries paid in these industries fell off 40 percent, while wages were curtailed to the extent of 60 percent. Reduction in the salary item appeared much later in the depression than did the decline in wages. An even more pronounced divergence is noticeable in the movements of dividend and interest payments. Interest, which by nature is a more stable type of claim upon income produced, has recorded a very small 19 decline, occurring primarily in 1932. Dividend payments, on the other hand, after declining slightly in 1930 fell off more rapidly in later years than did salaries and wages paid. A considerable portion of the decline in salaries and wages paid since 1929 has been due of course to unemployment rather than the reduction of salary and wage rates. In the manufacturing industry, for example, total salaries and wages paid declined 54 percent between 1929 and 1932. Employment in this industry fell off, however, about 37 percent in this period, so that the average salary and wage received by those still on the industry's pay rolls showed a decline of only 26 percent. A study of the comparative declines in net income originating in, and distributed by, the various industries bears out the observation, already suggested by data relative to employment and the volume of business, that the most drastic contraction since 1929 has taken place in the producers' or durable goods industries. The greatest decline registered took place in the construction industry, in which activity had already started to slacken before 1929; income paid out in this industry in 1932 was only 28 percent of the 1929 volume. The mining industry, which produces goods mainly for industrial consumption or further industrial elaboration, paid out in 1932 only 40 percent of the 1929 amount. In manufacturing the level in 1932 was about 45 percent below that for 1929, with the greatest falling off in the heavy goods branches. These data compare with a total falling off of only 40 percent for all industries combined. Industries which made a better than average record in the general downward tendency were primarily those serving consumers directly, and particularly those whose revenues were of a monopoly type and not subject to the full force of competitive operation. The various Government units, when considered as a whole, showed a slight increase in annual income distributed from 1929 to 1932, with an expansion of employment and salaries paid and of bonded indebtedness and interest payments. The electric light and power industry, with rather inflexible rate structures and a relatively stable demand, suffered a loss of only about 5 percent in gross income, and income paid out declined less than 8 percent by 1932, after increasing in 1930. The complete report from which the above data are taken presents over 200 tables of detailed analysis and will be published as a Senate document. When printed, the study will be available from the Superintendent of Documents, Government Printing Office, Washington, D.C. 20 SURVEY JOF CURRENT BUSINESS CANADA—SALES OF ORDINARY LIFE INSURANCEl SHIPMENTS OF AUTOMOBILE ACCESSORIES AND PARTS1 [Thousands of dollars] Month January February _ _ _ March April May__ _ _ June July _ August _ _ _ September October _ .. November. December _ _ _ __ Total for year Monthly average February 1934 [January 1925=100] 1929 1930 1931 1932 1933 49, 172 46, 435 47, 337 51, 044 49, 883 52, 779 54, 066 40,461 42,590 50, 263 55, 037 53, 343 44, 452 43, 335 48,408 51, 173 48, 381 53, 652 45, 916 35, 535 38, 532 44, 114 45, 633 48, 529 40, 767 39,898 46, 520 45, 302 40,954 45, 860 39, 510 35, 202 29, 779 35, 594 38, 541 46, 385 36, 990 37, 783 37, 179 33, 411 30, 679 40, 757 34, 310 28, 370 25, 207 29,858 34, 003 33,483 29 367 26, 323 29 763 29,770 30,497 32, 398 30, 255 27, 263 25, 381 31,472 34, 185 37, 376 592, 410 547, 660 484, 312 402, 030 364, 050 49, 368 45, 638 40, 359 33, 503 '60, '6'6X Month January February March April May June July August September October November December Monthly average 1 feftigU.h 1 Compiled by the Life Insurance Sales Research Bureau from reports of 14 companies having in force 84 percent of the total business in Canada as of Jan. 1,1933. The figures shown differ from those published in the 1932 Annual Supplement which included some figures on an "issued" basis. The figures here given represent new paid-for business. Comparable figures prior to 1929 are not available. 1925 1926 1927 1928 1929 1930 1931 1932 100 104 130 168 164 156 158 154 159 183 140 137 132 154 178 161 150 141 133 152 147 120 81 94 126 146 182 175 172 167 143 155 146 129 102 109 153 171 207 195 201 190 187 212 202 188 153 151 188 212 241 254 245 208 188 182 175 156 90 52 132 138 155 163 144 116 88 91 89 86 72 69 84 93 113 124 124 94 85 79 67 54 59 64 67 64 65 63 62 56 45 35 35 39 45 51 146 137 146 184 183 112 87 52 1933 51 50 41 64 71 81 76 80 74 59 56 Compiled by the Motor and Equipment Manufacturers' Association. The data manufacturers by 103 companies; the service part sales to wholesalers by 64 companies; the accessories sales to wholesalers by 53 companies; and the service-equipment sales to wholesalers by 31 companies. The indexes of the groups making up the combined index have been published regularly in the Survey of Current Business and may be found on p. 274 of the Annual Supplement and on p. 54 of this issue. REGISTRATIONS OF NEW COMMERCIAL CARS IN THE UNITED STATES [Number] Month January February March April May June... July August September October November December _ _ _ _ _ _ _ . _ _ _ - .. ___. _ . _ _ Total for year __. . Monthly average 1925 1926 1927 1928 1929 1930 1931 1932 1933 21, 310 19, 973 27, 784 33, 963 31, 835 27, 709 33, 033 34 247 30, 186 32, 109 21, 705 19, 296 26, 736 23,194 34 944 44,298 36, 761 33, 245 38, 191 36, 653 34, 326 35, 136 23, 667 18, 117 27 569 28, 438 33 482 37, 071 33, 966 28, 505 28, 359 27, 856 24,436 27, 231 18, 824 12,088 16 431 17, 510 24 698 30, 272 32, 468 29, 154 31,844 36, 753 35, 135 40, 890 27, 491 18, 476 29 914 32, 652 46 238 56, 258 52, 838 45, 079 57, 893 52 516 46 532 49, 870 33. 593 23, 242 30 202 31, 846 42 172 46, 978 43, 253 33, 496 39, 876 33 752 33, 911 34, 205 21, 994 18, 642 24 414 23, 475 30 609 36, 851 33, 489 28, 490 30, 085 27 032 25, 967 24, 695 15, 546 13, 147 14 767 14 522 16 759 17 777 18, 688 17, 813 14, 695 15 010 15, 180 15, 157 10, 389 9,522 11 709 9,707 9 934 17, 301 20, 925 23, 254 30, 642 28, 807 31,281 28, 058 18,691 333, 150 385, 268 327, 825 341, 122 526, 625 410 327 313, 800 180, 279 27, 763 32, 106 27, 319 28, 427 43, 885 34 194 26, 150 15, 023 i Compiled by R. L. Polk & Co., and represent the number of new commercial cars registered each month in the United States. Data in 1925 include all States except Mississippi, Nevada, Tennessee, and Vermont. From 1926 on all States are included. Monthly reports of the company show figures by makes of cars and by States of registration. This series will be added under the section on automobiles beginning with the June 1934 issue. AIRPLANE TRAVEL1 Passenger miles flown (thousands of miles) Passengers carried (number) Month 1926 January February March April May June July August September October November December Total for year Monthly average 1927 1928 1929 1930 1931 1932 1933 63, 650 65, 409 60, 639 50, 141 33, 625 26,701 26, 075 24, 830 33, 812 41, 127 45, 105 46, 639 53, 759 57, 995 52, 829 38,548 30, 671 22, 889 24, 366 24, 625 25, 132 29, 727 38, 738 54,247 61, 504 65, 181 56, 830 50, 413 34, 775 374, 935 2 469, 981 474, 279 39, 523 _ 5,782 8,679 49, 713 173, 405 482 723 4,143 14, 450 31, 245 39, 165 1931 1932 1933 13, 500 14, 310 13, 180 11, 119 7,456 6,022 6,077 5,793 8,144 10, 306 11, 701 12, 514 14, 775 15,936 14, 586 11, 192 9,102 6,913 7, 864 7,646 8, 094 9,385 12, 654 18, 861 21,417 22, 798 21, 515 19, 356 13, 248 83, 360 2 106, 442 127, 039 6, 947 8, 870 .10, 587 1930 1 Compiled by the United States Department of Commerce, Aeronautics Branch, and represents the number of passengers carried and number of passenger miles flown on scheduled air transport lines in continental United States. A passenger mile is the equivalent of 1 passenger flown 1 mile. 2 Total for year, not of months shown. 21 SURVEY £>F OUREENT BUSINESS February 1934 WEEKLY BUSINESS INDICATORS [Weekly average 1923-25=100] 1934 ITEM 1933 1933 1934 1931 ITEM Jan. Jan. Jan. Jan. Jan. Jan. Jan. Jan. Jan. Jan. 24 27 20 13 28 21 14 30 23 31 Business activity: New York Times * # 77.2 77.0 76.3 66.7 67.2 66.8 72.3 73.4 85.5 85.4 Business Week * t 66.4 66.6 64.9 54.5 55.1 55.4 61.5 63.0 78.8 79.4 C ommodity prices, wholesale : Dept. of Labor, 1926=100: Combined index (784) _ . 72.4 72.3 71.7 60.4 61.2 62.0 66.7 67.6 Farm products (67) 59.5 59.0 58.6 41.3 43.0 45.2 51.1 54.6 Food (122) 65.0 64.6 64.2 54.1 56.0 58.2 63.1 65.7 Fisher's index 1926—100* Combined index (120) _ _ _ 72.5 72.1 72.0 55.5 56.4 57.3 64.5 65.2 77.2 77.4 Agricultural (30) 49.0 48.4 48.3 38.5 39.6 40.6 47.5 48.1 70.0 71.2 Nonagricultural (90) — 79.6 79.9 79.2 60.0 60.6 61.3 67.5 68.4 79.0 79.0 Copper, electrolytic t 58.7 55.8 56.5 34.8 34.8 34.8 52.2 52.2 68.1 71.0 Cotton, middling, spot 41.9 43.0 40.8 23.2 23.2 23.2 25.0 24.6 38.6 39,0 Iron and steel, composite 78.3 78.3 78.3 69.0 69.0 69.7 72.3 72.5 76.7 76.7 Construction contracts $ 34.2 46.3 52.9 17.6 18.2 24.5 21.5 50.7 Distribution: Car loadings- 58.6 58.5 58.0 49.2 52.1 53.2 58.4 58.6 75.0 ~74.~6 Employment: Detroit factory . 52.2 69.0 75.1 28.8 76.5 Finance: Failures, commercial 77.4 81.8 77.1 172.5 169.8 178.4 199.5 210.1 162.2 174.9 Security prices: Bond prices J 99.2 98.3 95.7 89.7 88.7 89.7 89.1 90.2 107.5 107.9 Stock prices t-_ 95.6 93.7 87.5 60.0 59.5 61.3 74.4 77.3 158.7 156.1 * Computed normal=100. f Weekly average, 1928-30=100. # Inlex ravissi. 833 vvaskly sipplemsnt of June 1, 1933, for explanation. 1933 1933 1931 Jan. Jan. Jan. Jan. Jan. Jan. Jan. Jan. Jan. Jan. 27 20 13 28 21 14 30 23 31 24 Finance— Continued. Banking: Debits, outside N.Y.C4. 61.3 66.0 61.8 53.9 63.1 61.4 66.4 77.5 89.8 98.3 Federal Reserve reporting member banks: § Deposits: 109.1 108.7 107.3 98.8 98.6 98.9 94.8 95.0 113. 3 113.3 Net demand ._ TlTTIP, 121.0 120.4 120.7 124.7 125.8 125.7 127.3 128.3 156.6 156.4 Loans, total 74.8 75.1 75.0 80.3 80.9 81.1 102.9 103.5 126.0 126.7 Interest rates: Call loans t _ 24.2 24.2 24.2 24.2 24.2 24.2 60.6 60.6 36.4 36.4 Time loans t ... 25.8 26.7 26.7 11.4 11.4 11.4 85.7 85.7 45.7 45.7 Money in circulation^— 115.4 116.5 117.4 115.7 115.7 115.6 115.7 116.0 94.3 95.2 Production: Automobiles __ 58.7 44.9 39.6 50.9 44.1 38.1 37.9 38,5 60.0 60.1 Bituminous coalj 70.5 70.8 72.2 56.1 62.8 65.7 62.8 62.5 78.7 86.5 Electric powerf 96.7 97.5 98.8 88.2 89.1 89.7 95.4 95.9 101.3 102.8 Petroleum t- __ 106.7 110.2 110.9 96.4 96.7 96.5 104.2 103.8 100.1 101.3 Steel ingots 44.7 44.7 43.4 25.0 23.7 22.4 35.5 36.8 61.8 60.5 Receipts, primary markets: Cattle and calves 72.9 76.7 76.2 61.1 61.2 57.9 60.0 64.3 64.2 74.7 Hogs 107 1 107.5 95.2 82.1 77.1 84.5 118.3 103.4 104.0 119.8 Cotton63.8 73.8 60.4 102.7 111.9 105.4 129.2 122.7 48.8 46.2 Wheat 30.3 25.9 19.2 35.6 41.7 39.4 61.6 54.2 90.4 85.6 J Daily average. 1f Latest week is preliminary. § 1934 indexes are based on reports from 90 cities; earlier data cover 101 cities. WEEKLY BUSINESS STATISTICS ITEM Jan. 27 1934 Jan. 20 Jan. 13 Jan. 28 1933 Jan. 21 Jan. 14 1933 Jan. 30 Jan. 23 1931 Jan. 31 Jan. 24 COMMODITY PRICES, WHOLESALE 0.048 Copper, electrolytic, New York. _ _ _ _ _ dol. per lb_. 0.072 0.072 0.048 0.048 0.098 0. 081 0.077 0.078 0.098 Cotton, middling, spot, New York dol. per lb_. .063 .114 .111 .117 .063 .063 .068 .067 .105 .106 1.51 1.84 Food index (Bradstreet's) dol. per lb— 2.00 1.99 1.82 2.41 1.56 1.65 2.42 1.96 28. 54 Iron and steel composite __dol. per ton.. 32.42 32.42 32. 42 30.00 28. 55 28.83 29.92 31. 73 31.73 .43 Wheat, No. 2 Hard Winter (K.C.) — -dol.perbu.. .82 .54 .85 .51 .86 .43 .45 .69 .69 FINANCE Banking: 2,618 2,821 Debits, New York City . _ ... mills, of dol ~ 2, 906 3,039 2,899 3,461 4,078 5,069 5,034 2,965 2, 504 2,842 3, 592 4,162 Debits, outside New York City_._ mills, of dol— 2,869 2, 926 2,851 3,061 4,560 3,076 Federal Reserve banks: 2,067 2,631 2, 655 2, 068 1,807 1, 020 Reserve bank credit, total _ — .mills, of dol _. 2, 106 1,798 956 2,646 31 Bills bought ...mills, of dol— 104 112 32 32 162 113 188 120 152 97 104 265 819 101 249 Bills discounted ...mills, of dol— 248 838 215 230 2,432 2,432 2,432 1,763 1,812 752 U.S. Government securities mills, of dol— 751 610 1,778 625Federal Reserve reporting member banks: § 11, 138 10, 951 11,236 11, 213 11, 232 10, 658 Deposits, net demand mills, of dol 11, 094 10, 645 4, 614 4,372 Deposits, time _ _ _ .mills, of dol . 4,352 4,343 4,664 4,657 4,706 4,655 7,983 Investments, total mills of dol 8,185 8,229 8, 179 7,943 6, 495 7, 946 6,518 4,991 5,210 3,599 U.S. Government securities mills, of dol 5,245 4,998 3,563 5,223 4,968 8,734 Loans, total.. ... _ . .mills, of dol _ 8,211 8,209 8,648 8,714 11, 216 11, 291 8,218 3,662 4,992 5,022 On securities mills, of dol— 3,498 3,497 3,699 3,723 3,486 4,712 All other . mills of dol 4.713 4,732 5,011 6, 224 6,269 4,986 5,015 1.00 1.00 2.50 1.00 1.00 2.50 1.50 1.00 1.50 Interest rates, call loans percent-1. 00 .50 1.17 .50 .50 2.00 3.75 3.75 2.00 Interest rates, time loans percent-1. .3 1.17 Exchange rates: 6.241 6.114 3.904 3. 928 3.903 3.903 3.926 3.919 3.918 French franc (daily av.) ___cents__ 6.271 4.98 5.09 3.39 3.45 Pound sterling (daily av.) dollars 5.04 3.35 3.35 3.46 4.86 4.85 702 314 812 Failures, commercial .number . 315 855 712 691 726 660 333 Gold and money: 20. 67 34.45 34.06 20.67 20.67 20. 67 Gold price (daily av ) dol per ounce 34.39 20.67 20.67 20.67 5,632 4,621 Money in circulation mills, of dol__ 5,620 5, 701 5,613 5,617 4,581 5,603 5, 656 5,616 Security markets: Bonds sales, N.Y.S.E thous. of dol. par value.. 82,700 110, 700 101, 900 55, 000 63, 913 67, 500 73, 400 56, 235 65, 707 56, 585 79.44 80.73 96.23 Bond prices, 40 corporate issues dollars _ _ 88.87 85.73 80.30 80.31 79.79 96.61 88.00 7,323 Stock sales, N.Y.S.E thous. of shares14, 380 7,045 5,980 9,707 3,990 3, 918 5,810 9, 457 17,661 92.82 Stock prices (N.Y. Times) dol. per share-75.03 154. 15 91.04 59.54 72. 22 84.99 58.26 57.80 151. 59 114.4 Stock prices (421) (Standard Statistics) 1926=10079.3 59.6 72.2 48.8 47.8 50.3 56.5 113.0 76.1 Industrial (351) 1926=100 55.8 103.4 87.7 104.9 45.9 45.0 47.3 84.0 80.3 52.7 77.2 96.3 168.8 Public utilities (37) 1926=10091.4 165.8 74.9 70.2 80.0 83.6 80.7 Railroads (33) —.1926=10038.6 102.4 48.8 103. 3 46.5 28.1 26.7 28.9 37.6 42.0 PRODUCTION, CONSTRUCTION, AND DISTRIBUTION Production: 29, 365 45, 753 Automobiles (Cram's estimate) number 45, 843 44,796 33, 616 29, 096 34,293 38, 830 28, 950 30, 239 1,064 1,473 1, 340 Bituminous coal (daily av.) thous. of short tons— 1,119 1,205 955 1,069 1, 069 1,200 1,230 1,713 Electric power mills, of kw-hr— 1,598 1,484 1,687 1,470 1,495 1,589 1,611 ' 1,625 1,646 2,162 2, 086 Petroleum ..thous. of bbl__ 2,111 2,009 2,015 2,011 2,171 2, 223 2,295 2,311 . 28 47 46 34 34 19 18 17 Steel ingots (Dow- Jones estimate) .pet. of capacity.. 27 33 8,134 2,821 2,921 3,933 Construction- contract awards (da. av.) -thous. of doll-5,488 7,426 3,457 8,493 Distribution: Exports: ; 24 24 20 32 6 77 Corn thous. of bu__ 19 30 7 7 532 712 23 302 584 126 Wheat thous. of bu._ 341 76 874 '816 140 189 180 34 49 Wheat flour— — __thous. of bbl— 75 158 30 ' M 65 52 Freight-car loadings, total cars— 561, 566 560,430 555, 627 475, 292 499, 554 509, 893 560, 343 562, 101 719,397 715, 474 Coal and coke_ _ __ cars 132, 454 135, 222 144, 331 101,814 118, 036 124, 398 113, 366 112, 945 150,602 165, 043 36, 023 34, 179 14, 094 19, 551 Forest products _.. cars__ 14, 839 18, 964 20,615 14, 439 19, 647 18,146 32, 558 43, 528 39, 543 30, 558 32, 981 27, 674 Grain and products cars 33, 092 29, 559 25, 324 31, 694 23, 321 21, 048 24, 835 Livestock—", _ .cars 17, 678 18, 161 21, 225 18,057 17, 787 17, 401 18, 520 188, 520 210, 939 ' 208,259 159, 005 187, 974 160, 242 Merchandise, l.c.l cars 160, 499 160, 757 158, 330 161, 840 3,469 5,635 5,105 2,424 Ore _ _. cars 3,202 2,816 3,192 3,218 1,526 2,298 161,253 183, 017 184, 010 250, 449 238, 510 Miscellaneous cars 154, 031 158, 787 193, 251 190, 711 184, 256 Receipts: 198 230 178 198 185 188 Cattle and calves— — .-thousands 233 235 188 224 670 772 667 545 763 Hogs --thousands,. 530 497 693 614 691 319 127 120 274 336 Cotton into sight— thous. of bales 292 287 192 157 166 4,308 7,193 6,810 3,133 4,902 Wheat, at primary markets .—thous. of bu._ 2,832 3,319 2,411 2, 063 1,530 1,490 2,375 931 2,346 Wool, at Boston, total.— _ _ ' _ _ _ _ , _ _ _ _ __thous. of lb— 589 576 1,110 849 628 2,081 § Statistics cover 90 cities. Comparable figures hot available prior to 1932, but adjustments have been made in indexes in preceding table. 1930 Feb. 1 0.178 .164 3.06 35.24 1.14 7,222 5,004 1,171 258 407 477 4.50 5.00 3.933 4.86 545 20.67 4,549 51, 480 93.75 18, 927 216. 31 165.2 156.9 225.2 141.0 73, 376 1,938 1, 809 2, 595 76 9,561 186 1,593 335 898,835 222,975 48,477 44, 601 28,094 238, 177 7,682 308,829 285 799 164 3,390 4,412 22 SURVEY OF CURRENT BUSINESS February 1934 Monthly Business Statistics The following summary shows the trend of industrial, commercial, and financial statistics for the past 13 months. Statistics through December 1931 for all series except those marked with an asterisk (*) will be found in the 1932 Annual Supplement to the Survey of Current Business, together with an explanation of the sources and basis of the figures quoted. Series so marked represent additions since the Annual was issued and similar information, if published, will be found in the places noted at the bottom of each page. Later dataVill be found in the Weekly Supplement to the Survey. 1932 Monthly statistics through December 1931, 1933 together with explanatory footnotes and references to the sources of the data, may be found Decem- Decemin the 1932 Annual Supplement to the Survey ber ber January 1933 February March April May June July August SeptemOctober ! N°™-ber BUSINESS INDEXES BUSINESS ACTIVITY ( Annalist) t 58.5 64.1 72.5 64.8 Combined index normal=100__ 69.8 63.1 61.7 47.9 Automobile production— normal =100.. 31.7 27,0 40.9 41.6 52.8 47.7 128.2 Boot and shoe production normal=100._ 104.6 88.8 93.5 101.3 94.6 55.2 51.4 57.0 Carloadings, freight . _ normal =100 62~2~ 56.5 58.9 55.3 34.8 40.2 41.5 36.9 36.0 Cement production normal = 100. _ 36.7 112.3 84.2 Cotton consumption .-normal =100 82.9 80.2 81.1 83.8 68~5~ 87.4 Electric power production normal = 100. . 82.3 80.0 84.0 84.7 82,6 88.5 35.2 47.1 Lumber production normal =100 37.0 38.8 40.7 34.0 56 0 27.8 Pig-iron production normal = 100.. 20.1 16.8 19.5 19.8 19.8 41.9 91.4 73.2 64.0 83.6 Silk consumption - normal = 100 57.4 51 5 78.5 28 2 33.1 47.9 25.5 19.5 Steel-ingot production normal = 100- _ 54.3 26.5 82.5 52.4 114.6 68.8 Wool consumption normal =100 74.0 72.0 a <*42. 5 °42.2 39.9 «35.4 °39.7 Zinc production normal = 100-36.7 60 5 INDUST&IAL PRODUCTION (F.E.B.) 80 67 Total unadjusted 1923-25=100 69 60 64 60 64 80 Manufactures unadjusted — ._ .1923-25 = 100. . 58 68 58 63 63 67 64 32 33 57 Automobiles 1923-25 =100_ 40 35 26 34 50 34 29 Cement 1923-35=10024 23 98 86 94 90 99 Food products 1923-25 =100__ 89 89" 59 61 96 Glass, plate — 1923-25=100 54 78 68 53 24 25 39 Iron and steel . 1923-25=10029 33 53 101 87 91 Leather and shoes § - 1923-25=100 73 80 82 93 32 Lumber 1923-25=100 23 23 29 20 26 20 *94 Paper and printing 1923-25=100 82 j>84 81* 88 *>86 132 147 Petroleum refining 1923-25 = 100. . 132 132 135 140 Rubber tires and tubes 1923-25=100-. 54 45 118 46 76 58 112 31 64 31 Shipbuilding.,, —1923-25=10060 129 92 108 Textiles —1923-25=100 78 88 86 74~ 88 145 Tobacco manufactures . 1923-25=100 94 91 107 107 104 99 76 Minerals, unadjusted _ 1923-25 =100 72 74 65 71 76 80 43 74 63 Anthracite ._ _ .1923-25 =100.. 45 57 68 67 50 51 Bituminous coal — 1923-25=100 70 63 46 67 69 21 Iron ore shipments 1923-25=100 45 36 Lead 1923-25=100 46 39 41 46 68 136 Petroleum crude - 1923-25=100 102 120 93 108 108 115 29 Silver,.,. 1923-25=100.. 48 36 30 36 33 41 46 47 Zinc 1923-25=100-40 46 46 68 78 60 66 Total, adjusted 1923-25=10066 65 63 74 78 Manufactures, adjusted 1923-25=10064 64 56 66 61 73 51 27 44 Automobiles 1923-25=10060 48 33 47 42 41 40 35 43 38 Cement. 1923-25=100101 84 84 99 84 Food products 1923-25=10088 86 88 72 54 55 Glass, plate 1923-25=100_. 63 88 49 22 35 Iron and steel - 1923-25=100 30 31 28 " 61 110 Leather and shoes §._ 1923-25=100.. 92 84 93 85 86 95 22 24 30 23 Lumber 1923-25=100,. 32 26 20 J>92 J>82 Paper and printing 1923-25=100— *84 P84 "85 86 147 132 Petroleum refining 1923-25 = 100132 132 135 140 41 94 54 65 Rubber tires and tubes .1923-25=100— 59 67 78 144 32 25 Shipbuilding 1923-25 = 100— 91 181 87 108 Textiles . 1923-25=100 . 91 76 85 83 78 Tobacco manufactures —1923-25= 100— 112 143 99 116 113 115 123 Minerals, adjusted 1923-25 = 10081 72 78 76 73 79 85 44 43 Anthracite — - - -1923-25=100 77 75 53 64 68 57 Bituminous coal 1923-25=100 57 51 55 66 63 66 14 Iron ore shipments 1923-25=100 Lead -1923-25=10045 37 39 45 45 40 67 Petroleum, crude. — 1923-25 = 100. . 134 122 96 110 108 119 107 Silver . ..1923-25=100 . 44 30 30 36 36 30 39 Zinc 1923-25=100 43 45 67 39 44 45 INDUSTRIAL CONSUMPTION OF ELECTRICAL ENERGY Consumption by geographic sections: Total, United States _ 1923-25 =10079.4 75.3 84.4 92.9 81.9 85.8 97.9 97.3 Middle Atlantic— .1923-25=100108.4 83.3 80.8 86.3 85.7 91.8 New England .1923-25=10075.2 70.2 75.5 85.7 96.7 73.8 79.8 North Central 1923-25=10072.1 76.3 67.8 89.1 92.3 79.8 80.5 Southern . ... 1923-25=100 108 8 94.1 90 1 85 9 103.9 99 3 99 8 Western _ 1923-25=100.. 116.3 100.0 95.8 103.2 107.0 93.8 102.0 Consumption by industries: Total, all industries 1923-25=100— 79.4 75.3 97.9 81.9 85.8 84.4 92.9 Automobiles, including parts and accessories _ —.1923-25=10056.2 59.2 55.5 61.2 58.9 42.6 54.8 Chemicals and allied products 162.1 1923-25=100— 124.3 126.0 115.6 121.0 127.1 130.0 Food products .—1923-25=100— 103.2 126.2 116.7 107.5 101.5 112.5 119.7 Leather and products 1923-25=100.. 85.5 81.4 79.8 83.6 93.5 95.0 82.5 Lumber and products 1923-25=100.. 100.0 83.5 90.4 91.0 91.3 84.7 89.5 • Revised, t Revised series. For earlier data see p. 19 of the October 1933 issue. § Series revised, For earlier data see p. 19 of the January 1934 issue. Revisions did not change the combined by a slight amount. ' Preliminary. 83.4 63.6 135.2 61,4 49.2 140.3 93.0 59.5 43.1 105.4 69.3 146.5 "51.2 89.5 67.8 133.0 66.2 56.2 138.3 96.9 71.1 64.4 85.2 92.7 144.0 66.4 83.6 64.6 116.0 62.3 47.5 121.3 94.6 72.5 64.9 71.3 75.9 120.3 "70.1 76.4 60.7 97.6 60.6 34.4 97.6 92.7 56.7 54.7 52.0 62.9 105.2 •70.9 72.4 51 3 « 101. 2 59 0 31.5 90 4 89.4 53 1 45.0 49 6 54 9 102 4 a 71 1 "68.4 °29 9 95.4 59 4 33.9 83 8 «88.0 «48 3 37.2 59 2 41 9 92 3 °65 7 91 93 75 64 99 120 72 110 40 0102 153 139 20 126 147 82 57 57 30 42 137 23 53 92 93 66 51 100 118 72 114 38 »101 154 115 16 133 135 84 65 64 15 41 134 24 55 96 97 73 68 97 148 93 114 45 97 154 140 28 121 126 89 55 69 81 34 135 29 66 100 101 70 56 100 150 100 116 46 *104 155 143 19 130 117 90 67 76 40 36 132 34 71 90 89 67 65 87 137 79 113 49 98 153 110 22 *>108 131 94 61 74 117 35 136 28 71 91 91 61 50 95 135 80 102 46 v 102 153 111 15 114 123 91 61 75 57 36 134 28 77 85 84 62 46 99 113 65 106 37 P 102 157 98 20 99 128 93 75 69 131 54 129 37 73 84 83 56 37 105 112 66 92 36 rlOl 157 103 20 99 115 87 74 65 68 57 125 39 77 78 77 41 40 86 73 59 102 34 102 152 79 28 94 116 88 71 67 108 66 122 33 75 77 76 46 35 85 73 61 93 33 ?99 152 90 39 91 108 81 55 61 63 64 120 33 77 a 72 « 70 20 38 97 53 44 o §9 29 102 146 73 36 93 97 84 75 72 19 74 115 36 72 73 71 32 39 92 55 47 "93 30 *99 145 97 41 89 95 81 73 104.5 108.8 104.7 97.8 121 3 111.6 112.9 119.3 110.1 107.8 125.7 118.3 106. 2 114.4 108.1 101. 5 114.8 111.7 107.7 116.4 110.4 104.1 121.3 112.8 102.0 113.7 105.0 96.7 112 0 113.3 MOO. 9 a 112. 0 a 104. 0 «92.3 a l!3. 3 •116.9 104. 5 112.9 106.2 107.7 102.0 « 100. 9 65.5 66.6 63.7 61.8 52.1 135.7 136.0 100.2 98.3 152.0 149.8 102.7 102.0 152.5 133.3 101.2 99.7 159.6 137. 0 92.4 100.3 160.0 120.3 91.2 100.6 a 65 23 71 116 33 72 a 50. 6 «iei:3 « 121. 2 «89.3 « 104. 6 indexes except for a few months and in these instances SURVEY OF CURRENT BUSINESS February 1934 1933 Monthly statistics through December 1931, 1933 together with explanatory footnotes and references to the sources of the data, may be found Decem- Decemin the 1932 Annual Supplement to the Survey January Februber ber ary 23 1933 March 1 April j May June July October NovemAugust September ber BUSINESS INDEXES—Continued INDUSTRIAL CONSUMPTION OF ELECTRICAL ENERGY— Continued Consumption by industries— Continued. Metals, group. — 1923-25=100 Electrical apparatus 1923-25=100— Metal-working plants - .1923-25=100 Rolling mills and steel plants 1923-26=100.. Paper and pulp 1923-25=100 Rubber and products . 1923-25=100 Shipbuilding 1923-25=100 _ Stone, clay, and glass-1923-25=100.. Textiles.. 1923-25=100.. a 74.5 « 107. 0 «76 3 75.3 99.4 76.1 54.0 76.0 62.7 58.4 74.0 52 8 64.2 83.3 58.4 50.5 75.0 50 5 58.0 89.4 55.3 65.5 104.1 63.7 75.3 106.9 72.6 85 3 114. 0 79 6 80.7 108.4 76.4 83.8 115.2 80 6 80 7 111.7 79 0 73.8 127.0 53.3 98.8 77.2 84.0 56.2 86.5 54.7 104.4 85 2 83.6 58.5 85.0 60.6 111.0 91 0 89.2 67.2 84.1 50.5 95.2 68 0 71.5 68.8 79.0 62.3 102.3 82 0 73.0 74.5 86.0 68.8 112.0 124.5 71.3 90.0 96.4 79.8 126.5 146.4 75.7 102.0 118.2 95.0 130.2 157 0 75 7 113.5 121 3 88.3 130.0 143.5 80 0 105.1 110.3 139.5 131 0 83.5 100.4 109 2 89. a 83.5 134 2 113 8 83 5 85.8 107 4 81 85 98 75 113 36 76 112 66 45 65 82 -81 87 68 119 38 84 136 63 45 76 81 101 75 88 60 70 94 68 43 61 69 89 63 76 63 52 53 65 38 66 76 102 63 104 30 55 49 65 40 73 86 97 68 137 49 60 49 74 60 92 103 131 79 153 131 81 60 111 90 91 102 144 79 108 399 81 62 65 100 61 47 105 54 83 57 86 63 103 66 85 100 126 92 76 344 69 69 72 76 49 118 111 109 124 66 167 126 194 92 79 89 126 87 102 87 70 115 166 288 106 77 108 105 92 96 82 120 84 119 209 77 56 71 79 45 42 70 90 75 51 91 95 130 73 84 534 87 62 73 131 30 63 135 79 30 63 125 34 55 101 42 59 97 81 170 153 96 121 66 108 140 142 111 111 101 121 104 109 121 100 108 112 126 109 153 167 109 120 119 110 171 109 117 105 113 a 111 a 102 99 82 149 96 84 153 108.2 88.3 81.6 98.0 1 a •71.0 129. 8 a H5 Q a 86 7 «91.5 108 5 MARKETINGS Agricultural products* 1923-25 = 100 Animal products 1923-25=100— D airy pro ducts 1923-25 =100 Livestock 1923-25 = 100 Poultry and eggs _ 1923-25 = 100. . Wool - 1923-25=100 . Crops 1923-25=100Cotton 1923-25 = 100 Fruits . .1923-25=100 Grains 1923-25 = 100 Vegetables 1923-25=100Forest products 1923-25=100 _ Distilled wood „ —1923-25=100— Lumber . 1923-25=100 Naval stores 1923-25=100.. Pulpwood 1923-25=100— 44 47 32 91 76 51 25 53 69 98 27 57 122 113 139 133 133 134 97 123 69 103 95 119 69 101 97 112 79 101 101 107 109 94 37 48 23 88 35 50 33 101 149 143 97 122 69 107 97 120 69 105 51 65 27 60 135 111 STOCKS Domestic stocks 1923-25=100 Manufactured goods— 1923-25=100— Chemicals and allied prod.— 1923-25=100— Food products_ 1923-25=100Forest products 1923-25=100 _ Iron and steel products 1923-25=100 Leather 1923-25=100 _ Metals, nonferrous 1923-25=100— Paper, newsprint— 1923-25=100.. Rubber products 1923-25=100— Stone, clay, and glass 1923-25= 100.. Textiles 1923-25=100.. Raw materials 1923-25=100— Chemicals and allied prod... 1923-25 =100— Foodstuffs 1923-25=100Metals —1923-25=100— Textile materials 1923-25=100 World stocks— foodstuffs and raw materials: Total 1923-25=100 Coffee— adj. for seasonal 1923-25=100— Cotton—adj. for seasonal 1923-25=100Rubber— adj. for seasonal 1923-25= 100Silk— adj for seasonal 1923-25=100 Sugar —adj. for seasonal 1923-25=100 _ Tea—a( jj t for seasonal 1923-25=100 Tin—unadjusted 1923-25 - 100Wheat—adj. for seasonal 1923-25= 100- 94 82 159 71 107 152 192 213 120 213 124 295 220 339 114 81 83 193 83 81 159 76 193 117 177 109 80 85 196 90 78 160 74 186 112 169 95 85 82 200 89 80 163 77 177 104 164 86 85 81 206 88 80 82 83 207 81 76 164 159 81 169 99 163 82 81 161 93 160 78 87 82 201 90 77 104 81 185 84 74 • 101 82 167 74 77 99 81 154 82 80 100 82 153 73 86 105 159 87 189 84 152 153 123 167 85 216 92 123 167 89 213 103 151 185 104 216 113 177 209 116 224 122 » 185 215 121 218 124 256 327 248 343 79 159 90 171 84 277 259 240 225 206 175 174 263 402 259 394 261 375 267 362 269 343 267 340 266 344 229 326 206 212 328 220 231 330 217 236 331 225 255 326 217 262 330 247 353 242 348 167 344 171 253 341 221 317 164 245 357 216 242 346 233 212 236 207 220 209 208 204 208 201 208 192 219 183 232 161 233 220 217 312 145 331 147 326 158 75 162 73 96 a 106 167 154 282 314 155 117 153 155 262 ' 426 229 330 193 110 183 308 159 294 151 215 270 294 225 338 228 216 334 236 278 148 334 144 145 233 134 219 125 202 274 148 COMMODITY PRICES COST OF LIVING (N.I.C.B.) Total all groups Clothing Food . Fuel and light Housing Sundries .. . . 1923=100 . 1923=100 1923=100 . 1923=100 1923=100— 1923=100- 77.3 77 4 71.7 87 5 62.8 91.5 75.1 63 5 67.6 86 3 67.5 91.3 73.7 62.6 64.9 86.0 66.4 90.7 72.1 61 8 62.2 85 9 65.4 89.4 71.8 61 2 61.9 85 8 64.6 89.4 71.5 60 7 61.9 84. 6 64.0 89.3 72.1 60 7 64.1 82.8 63.5 89.4 72 8 61 6 66.2 82 2 63.4 89.3 75.2 63 9 71.7 82 6 63.2 90.3 76.9 70 0 73.0 84.3 63.2 91.8 77.9 75 6 73.2 85 9 63.6 92.3 78 0 77 7 73.4 87 0 63.2 91.4 77 8 77 8 73.0 87 4 62.8 91.5 68 77 52 43 51 45 50 48 62 65 64 69 76 84 68 59 34 51 96 46 49 44 53 49 69 59 33 52 121 45 72 71 70 69 70 71 71 76 FARM PRICES (Dept. of Agri.j § Total, all groupsCotton and cottonseed Dairy products * ... Fruits and vegetables Grains Meat animals - . Poultry products *. Unclassified 1909-14=1001909-14=100 1909-14=1001909-14=100— 1909-14 = 100 1909-14=100.. 1909-14=1001909-14=100 76 83 73 52 95 63 62 57 34 53 57 44 59 60 36 56 54 43 59 66 47 57 56 44 63 68 62 65 62 47 65 74 63 66 55 48 71 103 94 66 67 61 72 120 81 63 67 64 76 101 78 62 77 53 78 86 68 63 94 56 78 81 74 59 105 62 RETAIL PRICES Department of Labor indexes: 160 166 168 170 164 155 167 152 167 172 155 173 171 Coal 1913=100 107 94 107 107 107 106 95 91 90 97 91 105 Food.. —. 1913=10099 0 Revised * New series. See p. 18 of the March 1933 issue (marketings) and p. 20 of May 1933 issue (prices). § Data for Jan. 15: Total, 70, cotton and cottonseed 82, dairy products 73, fruits and vegetables 92, grains 75, meat animals 55. poultry products 82, unclassified 60. 24 SURVEY OF CURRENT BUSINESS Monthly statistics through December 1931, 1933 1933 together with explanatory footnotes and references to the sources of the data, may be found Decem- Decem- January in the 1932 Annual Supplement to the Survey ber ber February 1934 1933 February March April May June July August l8^' October November COMMODITY PRICES—Continued RETAIL PRICES— Continued Fan-child index: Combined index* Dec. 1930=100 Apparel: Infants' wear* Dec. 1930=100.. Men's* Dec. 1930=100 . Women's*.. Dee. 1930 =100. _ Home furnishings* Dec. 1930=100-. Piece goods* . . .Dec. 1930=100 . WHOLESALE PRICES Department of Labor index: Combined index (784) 1926=100 Economic classes: Finished products - .. __ 1926=100 Raw materials .1926=100 . Semimanufactures ~ 1926 =100Farm products „ . _ _ 1926=100 Grains ....1926=100.. Livestock and poultry. __ 1926 =100— Foods 1926=100 Dairy products. 1926=100 . Fruits and vegetables 1926=100— Meats 1926=100 Other products 1926=100 Building materials 1926=100Brick and tile 1926=100 Cement 1926=100.. Lumber . 1926=100 Chemicals and drugs 1926 = 100_ . Chemicals —1926=100.. Drugs and Pharmaceuticals. 1926 =100— Fertilizer materials 1926 =100 Fuel and lighting -1926=100Electricity 1926=100 Gas -1926=100.. Petroleum products __ 1926=100.. Hides and leather. .1926=100— , Boots and shoes 1926=100— Hides and skins _ 1926=100Leather 1926=100 House furnishing goods 1926=100.. Furniture 1926=100 _ Furnishings . 1926=100 Metals and metal products.. .1926=100— Iron and steel — 1926=100Metals, nonferrous 1928 =100— Plumbing" and heating equipment _ _ .. . 1926=100 Textile products 1926=100— Clothing _ —1926=100Cotton goods 1926=100— Knit goods — 1926=100 Silk arid rayon 1926=100.. Woolens and worsted. 1926=100.. Miscellaneous 1926=100 . Auto tires and tubes 1926=100 Paper and pulp 1926=100— Other wholesale price indexes: Bradstreet's (96) 1926=100 . Dun's (300) 1926=100 World prices, foodstuffs and raw materials: Combined index* 1923-25=100GofEee* 1923-25 = 100 Coppsr* 1923-25—100 Cotton* 1923-25=100Rubber* 1923-25=100.. Silk* .. . 1923-25=100 Sugar* 1923-25 = 100 Tea* 1923-25=100Tin* 1923-25=100 Wheat* 1923-25=100 Wholesale prices, actual. (See under respective commodities.) PURCHASING POWER OF THE DOLLAR Wholesale prices* _1923-25—100 Retail food prices* 1923-25=100 Farm prices* —.1923-25=100Cost of living*1923-25=100- 88.0 71.8 71.1 69.9 69.7 69.4 70.4 72.3 76.1 82.5 86.0 87.1 88.0 90.4 86.2 90.3 85.8 82.8 77.1 73.0 74.1 73.0 69.6 77.2 72.4 72.7 72.5 67.7 76.7 71.6 71.9 71.5 66.1 76.4 71.2 71.7 70.9 65.8 76.4 70.7 71.8 70.2 65.1 77.5 71.0 72.3 71.1 67.2 78.7 71.8 73.7 72.8 69.6 80.7 75.1 78.2 77.8 74.8 85.4 80.4 85.7 81.7 80.2 91.2 82.9 89.3 83.7 81.8 91.3 85.6 90.5 85.0 82.8 90.5 86.2 90.5 85.9 84.8 70.8 62.6 61.0 59.8 60.2 60.4 62.7 65.0 68.9 69.5 70.8 71.2 71.1 74.8 61.9 72.3 55.5 60.4 38.0 62.5 65.1 63.0 46.0 77 5 85.6 85.7 91.2 88.0 73.7 79.2 59.0 68.1 73.4 89^2 98.6 74.9 80 1 81.0 79.3 82 9 83.5 83.6 66.6 68.4 52.1 57.7 44.1 31.7 38.7 58.3 59.5 52.8 49.4 69.0 70.8 75.1 81.1 56.5 72.3 79.7 54.7 63.1 69.3 104.1 96.5 45.0 69.6 83.8 41.7 59.2 73.6 72.7 74.7 79.4 78.8 48.3 66.7 50.2 56.9 42.6 32.9 37.8 55.8 55.2 53.0 49.5 67 3 70.1 74.9 81.2 55.9 71.6 79.3 54.9 62.3 66.0 103.2 96.7 38.7 68.9 83.3 43.0 57.1 72.9 72.3 73 5 78.2 78.5 46.4 65.7 48.4 56.3 40.9 32.7 40.1 53.7 52.4 52.4 50.2 66.0 69.8 75.1 81.8 56.4 71.3 79.0 54.8 61.5 63.6 102.9 96.6 34.3 68.0 83.3 40.9 55.3 72.3 71.9 72.9 77.4 77.3 46.2 65.7 49.4 56.9 42.8 36.0 43.0 54.6 50.9 54.3 50.5 65 8 70.3 74.9 81.8 57.8 71.2 79.3 54.8 61.9 62.9 100.5 96.6 33.1 68.1 83.2 41.4 55 6 72.2 71.8 72.9 77.2 76.4 47.9 65.7 50.0 57.3 44.5 44.8 41.0 56.1 53.1 57.8 50.3 65.3 70.2 75.0 81.8 57.9 71.4 79.5 54.6 62.9 61.5 98,3 97.5 32.5 69.4 83. 2 45.8 57.2 71.5 71.5 71.7 76.9 75.7 49.2 67.2 53.7 61.3 50.2 52.8 46.8 59.4 •58.8 58.8 52.3 66.5 71.4 75.2 81.8 59.6 73.2 80.9 55.0 66.8 60.4 94.6 103.3 31.2 76.9 83.6 67.3 68 3 71.7 71.6 72 0 77.7 75.2 56.6 69.0 56.2 65.3 53.2 57.4 46.6 61.2 63.1 63.9 52.4 68 9 74.7 77.0 81.8 67.4 73.7 81.5 55.5 68.0 61.5 91.4 101.7 34.4 82.4 85.5 81.4 74 3 73.4 73.4 73 6 79.3 76.2 63.2 72.2 61.8 69.1 60.1 73.4 47.4 65.5 66.1 75.6 50.8 72.2 79.5 78.2 88.2 75.9 73.2 80.3 56.8 68.6 65.3 89.4 100.2 41.3 86.3 88.3 88.7 78.0 74.8 74.6 75.1 80.6 77.7 67.6 73.4 60.6 71.7 57.6 64.6 45.9 64.8 65.7 71.1 51.0 74.1 81.3 81.5 90.3 79.4 73.1 79.6 57.6 69.0 65.5 88.8 99.5 40.9 91.7 96.1 91.6 82,5 77.6 76.8 78.6 81.2 78.6 68.2 74.8 61.7 72.9 57.0 63.9 46.7 64.9 65.8 66.8 51.5 76.1 82.7 82.6 90.8 82.0 72.7 78.8 56.8 66.6 70.4 90.4 101.5 49.6 92.3 98.9 84.1 85.4 79.3 78.4 80.5 82.1 80.3 68.5 75.4 61.8 72.8 55.7 58.2 45.4 64.2 66.0 62.5 51.0 77.2 83.9 84.6 91.2 84.2 72.7 78.6 56.8 67.6 73.6 92.3 100.5 52.7 89.0 98.9 71.2 83.2 81.2 79.8 82.8 83.0 82.4 67.0 75.2 62.4 71.4 56.6 61.3 41.2 64,3 67*2 61.7 48.2 77.2 84.9 84.7 91.2 86.5 73.4 79.2 58.4 67.8 73.5 93.8 94.6 51.6 88.2 99.0 70.1 79.3 81.0 79.4 82.8 82.7 81.5 68.0 72.5 76.4 87.9 85.5 71.2 29.6 84.3 65.7 43 2 82.5 67.5 53.0 62.5 51.7 49.3 29.3 54.2 63.4 44 6 73.0 62.8 51.9 61.9 50.1 48.4 27.0 53.4 61.2 44 6 72.0 59.4 51.2 61.2 49.1 48.3 25.6 53.2 59.2 42.6 72.1 59.4 51.3 61.3 50.0 47.1 25.5 53.2 58.9 41 3 72.2 59.4 51.8 61.4 50.7 47.2 26.3 53.3 57.8 37 4 70.6 61.3 55.9 61.9 57.9 48.0 29.1 61.5 58.9 37 6 70.7 67.4 61.5 64.5 67.1 50.9 35.2 68.8 60.8 40 1 73.5 69.4 68.0 70.6 80.2 55.2 37.9 72.3 64.0 41.4 78.1 70.3 74.6 74.4 93.6 69.4 34.6 78.9 65.4 43.2 81.0 74.7 76.9 81.1 91.3 74.8 34.5 82.7 65.1 43.2 82.2 74.7 77.1 84.8 88.8 74.7 32.0 84.5 65.3 43.2 82.4 73.7 76.8 88.0 86.0 .72.5 30.4 84.4 65.5 43.2 82.5 68 4 86 1 52.6 69 0 50.6 68 1 49.2 67.7 50 6 68 0 54.1 70 8 62.1 74 2 64 5 79 1 69.7 82 8 69.6 85.0 70.0 86.2 68.5 85.1 68.2 84.6 39.3 46 5 \ 57 0 37.5 20.8 19.8 30 2 '41,6 25.7 51 9 34 8 21.7 7 '7 21 7 20 9 28.0 45 1 31 2 25.1 48 4 34 6 22.8 7.2 18 2 18 0 29.2 45 2 32 0 24.9 47.0 34 6 22.4 6.9 16.8 18 5 40.0 46.7 30.0 27.0 47 0 36 2 25.7 70 16 5 23 9 39.8 48 4 30 1 28.6 44 5 39 0 25.4 83 18 5 27 9 38.1 54 0 32 9 34.2 46 5 48 4 31.6 11.6 22 2 32 7 39.6 71 4 38.8 37.6 45 5 56 2 35^3 14.4 30 1 34 7 42.3 87 9 39 9 42.8 45.5 62 5 39.7 18.8 31.8 38.4 52.1 92.3 50.3 39.7 45.0 63.4 35.3 17.1 26.3 36.9 63.2 89.0 42.8 41.5 45.0 63.3 35.7 17.0 26.4 39.9 77.1 92.8 46.3 37.6 44.5 57.5 35.7 17.9 23.0 33.7 72.8 95.3 34.8 39.3 44.5 57.0 36.8 20.3 20,5 30.4 73.7 105.6 43.4 142 2 142. 0 202.8 131.8 160 8 151 7 265.3 135.5 165 0 158 0 270.3 138.1 168 4 164 7 281. 7 141.2 167 2 165 6 276.2 141.8 166 7 165 8 260. 4 142.5 160 5 159 7 222.7 141.2 155 0 154.8 215.5 139.9 146.2 142.9 181. 5 135,3 144.9 140.4 191.6 132.5 142.2 140.1 197.2 130.7 141.4 139.7 197.2 130.5 141.6 140.4 194.6 130,9 CONSTRUCTION AND REAL ESTATE CONSTRUCTION CONTRACTS AWARDED Contracts awarded, F.R.B.: 35 a 42 24 25 30 Total, unadjusted 1923-25=100— 22 48 18 21 16 14 16 19 «12 12 12 Residential 1923-25=10013 13 12 8 14 7 7 13 8 11 37 24 30 «48 Total, adjusted 1923-24=100— 21 22 61 28 18 19 14 14 16 12 Residential 1923-24=100.. 12 13 13 13 14 8 8 9 11 13 8 10 F. W. Dodge Corporation (37 States): Total, all types: Projects . number .7, 476 6,332 8,186 7,596 8,229 7, 677 4,205 3 800 3 884 9 186 7 254 9 409 6 303 162, 341 Valuation thous. of dol— 207, 210 81, 219 83, 356 52, 712 59, 959 56,573 77, 172 102, 980 82, 693 105, 989 120, 249 145, 367 Nonresidential buildings: § 2,304 2,387 2,172 2,802 Projects number-- 3,189 2,777 1,466 1,532 3,082 1,363 3,152 2,254 2,535 8,330 6,470 6,335 5,053 Floor space. _ _ thous. of scj ft 6,978 5 185 3 331 4 460 4 085 4 972 6 525 7 137 5 000 37,951 31, 117 Valuation thous. of dol__ 50. 040 24. 945 28. 732 23. fi70 2fi.' 359 23. 807 31.fi3fl 27. 645 50. 774 40. 122 32. 708 * New series. For earlier data sea p. 19 of the December 1932 issue (Fairchild index); p. 20 of September 1932 issue (world prices); and p. 18 of the August 1933 issue (purchasing power of the dollar). Data for this series have been revised for years 1930,1931, and 1932, and may be found on p. 20 of the September 1933 issue, o Revised. 25 SURVEY OF CURRENT BUSINESS February 1934 1933 Monthly statistics through December 1931, 1933 together with explanatory footnotes and references to the sources of the data, may be found Decem- Decemin the 1932 Annual Supplement to the Survey January Februber ber ary 1933 March April May June July October NovemAugust September ber CONSTRUCTION AND REAL, ESTATE—Continued CONSTRUCTION CONTRACTS AWARDED— Continued F. W. Dodge Corporation (37 States)— Con. Public utilities: # 322 Projects number 150 176 107 114 89 93 Valuation _ -thous. of doL_ 34, 043 2,499 5,640 6,451 7, 974 4, 726 2,390 Public works: # 2,446 Projects number 832 451 782 701 373 571 Valuation __ _ thous. of doL 99, 227 36, 866 34, 699 12, 510 15, 079 11, 233 13, 372 Residential buildings: 3,198 1,903 1,794 5,299 Projects _ number-. 1,720 4,034 1,886 4,773 8,352 3,437 5,814 Floor space __.thous. of sq. ft.. 5,890 3,160 3,149 Valuation thous.. of dol- . 23, 900 12, 958 11, 951 11, 805 16, 021 19, 144 26, 520 Engineering construction: K Total contracts awarded (E.N.R.) thous. of doL_ 102, 563 103,360 95, 392 60, 513 57,934 49, 393 78, 198 HIGHWAY CONSTRUCTION Concrete pavement contract awards: 1, 696 1,902 Total __thous. of sq. yd_. 5,918 5,649 5,387 570 1,440 1, 478 Roads only thous. of sq. yd._ 4,107 4,638 1,633 5,129 1,280 379 Highways: Under construction (Federal Highway Act): Estimated total cost. thous. of doL. 250, 978 252, 372 260, 185 265, 673 269,489 260, 736 Federal-aid allotment. .thous. of doL. 98, 257 95, 884 97, 337 98, 311 97, 551 92, 669 Mileage total number 13 349 13, 301 13 561 13 855 14 209 13,657 Initial number 9,347 9 353 9 709 9, 258 9,550 0,628 Stage (added improvement) number. _ 3,953 4,400 3,996 4,011 4,500 4,228 Mileage completed to date. number-104, 562 105, 055 105, 412 105, 645 105, 835 106, 554 Approved for construction (N.LR.A.):* Mileage _ number-- 5,607 Public works funds alloted thous. of dol~ 93, 439 Under construction (N.I.R.A.):* Estimated total cost thous. of dol— 159, 575 Public works funds alloted thous. of dol 147, 264 Federal aid funds alloted thous. of dol._ 5,561 Mileage TUTmher 10 504 CONSTRUCTION COSTS Building costs—all types (American Appraisal 140 142 Co ) * ] 913— 100 145 141 140 153 140 Building costs— all types (A. G.C.)~ -1913=100-. 163 163 163 158 168 163 158 158.4 164.4 Building costs— all types (E.N.R.) §.1913=100. . 192.1 158.5 158.4 159.3 160.2 Building costs—factory (Aberihaw) 1914— 100 166 175 165 MISCELLANEOUS DATA Construction— employment and wages: Employment, Ohio. (See Employment.) Wages, road building. (See Employment.) Fire losses, United States thous. of dol 27, 626 39, 191 35, 548 36, 661 35, 321 27,826 24, 339 Ship construction. (See Trans. Equipment.) Real estate: Home Loan Bank, loans outstanding * thous. of doL. 88, 375 «838 « 3, 896 « 9, 184 « 22, 698 30, 540 « 38, 932 Market activity .each month 1926=100.. 46.4 52.9 50.4 41.7 41.1 57.2 53.8 New financing. (See Finance.) 164 5,046 160 4,132 157 19, 395 173 3,425 210 6,995 215 6,938 933 19,392 910 14, 809 1,251 32, 003 1,591 57,324 1,718 85, 729 1 445 104, 141 5,007 8,309 27, 768 4,357 7,383 23,630 4,001 6,369 21,884 3,528 6,296 21,549 3,161 6,868 21, 526 2,500 6,433 23, 616 104, 200 50, 368 74, 063 106, 677 141, 622 147, 446 1,861 1,547 1,428 879 5,764 4,826 7,970 6,409 5,542 4,171 242, 107 222,452 191, 040 158,443 121, 709 86, 141 79, 844 68, 270 57, 185 45, 420 12, 384 11, 243 7,564 9,339 5 517 8,397 6,443 5,223 7,626 3 937 2,341 3,617 2,896 3,986 1,580 107,869 109, 125 111,227 113, 237 115,377 90, 368 34, 862 3 942 2 848 1 095 116, 961 5,650 5,300 4,648 72, 778 5, 147 74, 731 4,748 76, 619 34, 962 32, 893 1,063 2, 305 92,215 85 989 3,177 5 910 134, 491 124 652 5 071 8 813 141 161 163.4 168 148 162 165. 5 150 165 167.0 151 166 175. 5 173 151 166 187. 7 152 167 190.1 21, 579 20, 004 23, 627 20, 448 21, 465 22, 454 53, 745 « 59, 806 « 66, 329 41.5 47.4 42.2 73, 110 45.8 80, 699 54.1 « 48, 003 44.9 DOMESTIC TRADE ADVERTISING Radio broadcasting: Cost of facilities, total- _ thous. of dol__ 3, 697 2,103 « 3, 256 2,065 1,816 3,006 2,811 2,628 3, 014 2,466 2,287 1,907 « 3, 466 Automotive thous. of dol._ 209 121 289 118 171 215 126 115 128 234 176 261 273 Building materials _ — thous. of dol.. 0 6 0 0 0 0 0 0 0 0 30 17 26 Clothing and dry goods thous. of doL. 52 22 24 21 39 53 9 47 5 43 17 46 43 Confectionery.. thous. of dol.. 186 168 100 120 80 33 38 145 103 38 39 188 «177 Drugs and toilet goods thous. of doL_ 646 719 598 550 519 470 499 650 707 357 1,048 «910 «978 79 a 64 a, Q0 Financial » thous of dol 82 76 95 86 99 85 86 93 89 61 a Foods — -__. thous. of dol... 1, 091 722 713 607 542 655 0 1, 080 898 750 860 767 571 1, 132 o 11 o House furnishings. ._ - thous. of dol 44 32 50 43 16 23 77 38 54 12 o o g 7 o o Machinery thous of dol 12 0 49 0 84 «0 15 Paints and hardware ---thous. of doL. 12 11 12 13 9 11 8 8 6 15 .7 « 19 19 Petroleum products thous. of doL. 292 294 281 304 220 308 319 236 238 243 258 «311 °307 Radios.. thous. of doL. 44 44 54 36 36 19 27 46 60 54 57 58 58 Shoes and leather goods -thous. of dol— 0 12 0 0 9 0 0 0 0 0 0 0 0 Soaps and housekeepers' supplies 74 82 92 thous. of dol. _ 79 94 78 77 71 59 70 '92 115 95 0 Sporting goods, thous. of doL. 0 0 0 0 0 0 0 0 0 0 0 0 17 4 Stationery and publishers ...thous. of dol._ 36 18 0 33 33 0 8 51 2 23 24 241 162 Tobacco manufactures ..thous. of doL, 334 364 395 361 207 113 239 187 134 381 •185 42 Miscellaneous --thous. of dol._ 24 34 53 75 30 32 23 10 27 « 47 69 67 Magazine advertising: 6,345 6,388 Cost, total— _-thous. of doL. 8,319 7,827 <* 5, 570 «8,237 «8,671 "9,286 « 9, 107 « 7, 636 5,879 9,148 9,403 779 421 1,164 834 962 689 792 Automotive thous. of dol._ 375 677 760 574 935 739 Building materials thous. of doL. «112 146 «151 100 97 120 "129 «173 «193 «108 173 227 218 141 162 241 244 191 Clothing and dry goods thous. of dol— 106 150 268 203 79 357 304 245 144 Confectionery, thous. of doL55 98 262 166 208 180 . 128 108 275 302 300 295 2,453 2,029 1,600 1,400 Drugs and toilet goods thous. of doL. 2,056 1,896 1,257 2,181 2,324 1,407 1,458 1, 969 2,335 184 Financial thous. of doL , 212 196 204 198 191 177 197 167 153 226 196 240 * Revised. 1 Data for December 1932, March, June, August and November, 1933 are for 5 weeks, other months 4 weeks. * New series. For earlier data see p. 20 of the August 1933 issue (building costs, American Appraisal Co.). First report of Home Loan Bank, covers December 1932, N.I.R.A. highway work started in September. § Index for Jan. 1, 1934,191.3. * These series represent a breakdown of the combined total previously shown. See p. 20 of the September 1933 issue for earlier data. 34969—34-—4 26 SURVEY OF CURRENT BUSINESS 1933 Monthly statistics through December 1931, 1933 together with explanatory footnotes and references to the sources of the data, may be found Decem- DecemFebruin the 1932 Annual Supplement to the Survey ber ber January ary February 1934 1933 March April June May July October NovemAugust September ber DOMESTIC TRADE—Continued ADVERTISING— Continued Magazine advertising— Continued. Cost, total— Continued Foods „. ._ _thous. of dol _ Garden — thous. of dol._ House furnishings thous. of doL_ Jewelry and silverware thous. of dol.. Machinery, .thous. of dol_. Offlce equipment »_._.thous. of dol_. Paints and hardware thous. of dol__ Petroleum products thous. of dol_. Radios _ ..thous. of dol__ Schools thous. of dol__ Shoes and leather goods thous. of dol_. Soaps and housekeepers' supplies thous. of doLSporting goods _.— tbous. of dol_. Stationery and books thous. of dol.. Tobacco manufactures tbous. of dol.. Travel and amusement. thous. of dol__ Miscellaneous thous. of dol_. Lineage, total f— thous. of lines.. Newspaper advertising: Lineage, total (22 cities) thous. of lines. . Lineage, total (52 cities) thous. of lines, _ Classified thous. of lines-Display. __ „„ thous. of lines.Automotive tbous of lines Financial .-thous. of lines.. General _ --tbous. of lines _ Retail —..thous. of lines.. j 1,777 1,816 19 367 202 29 71 23 284 210 113 67 1,209 42 225 77 17 32 9 157 146 132 45 1 817 75 367 28 27 38 25 175 83 144 13 1 943 74 396 28 34 37 76 180 63 116 69 2 075 64 522 50 33 34 «100 216 61 116 159 1 836 58 643 73 24 23 97 326 39 129 201 1 515 23 454 72 14 35 79 268 47 128 154 1 343 10 200 47 23 25 38 236 58 121 85 1 018 5 129 26 24 13 2 320 101 136 13 1 155 10 270 36 14 18 53 225 85 143 58 1 685 15 663 127 25 76 117 202 103 116 140 1,958 7 594 160 29 70 82 168 273 105 134 358 146 326 352 259 264 1,641 277 104 160 332 223 181 1,116 632 41 170 347 195 190 1,490 643 49 118 392 278 203 1,630 702 79 135 392 311 188 1,729 750 136 121 457 388 197 1,732 668 178 HI 383 345 168 1,544 518 142 100 326 233 147 1,272 440 131 95 364 130 127 1,184 517 76 123 337 131 178 1,407 645 81 237 453 220 228 1,870 582 46 202 399 246 218 1, 899 63, 962 « 60, 730 96, 716 91, 509 15, 548 15, 689 81, 168 75, 820 3 936 3 913 1, 506 1,651 12, 275 8,908 63, 451 61, 348 52,077 77, 957 15, 282 62, 675 4 666 2,281 14, 197 41, 331 47, 186 72, 539 14, 083 58, 456 3 048 1,637 15 188 38, 584 49, 884 76, 364 14, 810 61, 554 2 503 1,951 13, 869 43, 230 60, 118 91, 053 17,000 74, 053 4 685 1,511 15 289 52, 569 62, 184 94, 649 17,019 77, 630 7 021 1,528 16, 133 52,947 61, 258 93, 168 16, 345 76, 823 7 Q9i 1,722 16, 448 50, 663 49, 364 78, 319 16, 064 62, 255 6 139 2,396 14, 272 39, 448 53, 710 86, 339 18, 158 68, 181 6 797 1,392 15 198 44, 794 62,327 70, 271 92, 618 105, 970 17, 287 19, 467 75, 331 86, 503 4 683 5 408 1,497 1,259 16 337 20 071 52, 326 60, 252 66, 357 99,823 16, 199 83, 624 5 565 1,500 18 769 57, 791 41 515 686 40 829 633 39 575 542 31 165 520 35 530 625 34 668 651 31 411 474 21 754 340 19 718 379 21 979 370 u 4V7 448 61 7 60 7 60 8 60 2 60 4 60 5 61 9 62 3 62 7 63 5 64 2 CK q 2,681 3,307 2,839 2,674 2,665 3,373 2,933 2,402 2,392 3,839 2,304 2,384 542 326 524 721 493 416 586 822 568 740 612 653 643 449 644 172 690 177 643 621 665 458 631 748 4 013 35,487 3 574 32, 745 3 207 30, 038 3 098 31, 864 3 936 59, 711 3 261 35, 866 3 417 35, 399 3 240 33, 129 3 061 30, 957 3 078 30, 894 3 057 30, 959 q qqe 33, 146 3 250 32, 232 12, 118 98, 551 10, 151 78, 670 6,340 8,567 67, 210 2,400 7,996 65, 370 2,423 10, 445 136, 196 2,630 9,622 94, 163 2,832 9,737 88,465 2,261 10, 027 88, 721 2,330 8,863 81, 759 2,109 9,598 87, 281 2,072 9,426 11, 106 87, 571 102, 877 2,619 1, 998 11,173 98, 630 2, 279 33, 097 3,789 24, 674 2,955 22, 559 2,659 24, 422 2,646 23, 810 2,678 24, 393 2, 703 24, 988 2,701 8 367 176 29 83 32 190 238 84 106 371 102 325 370 291 224 1, 791 COLLECTIONS Delinquent accounts, electrical trade: Amount _. -_ dollars Firms _ _. _„ ._ _ number,. FINANCIAL INDICATORS Bank debits. (See Finance.) Business failures. (See Finance.) Commercial loans. (See Finance.) Money in circulation. (See Finance.) GOODS IN WAREHOUSES Space occupied, public merchandising warehouses percent of total NEW INCORPORATIONS Business incorporations (4 States) number. . POSTAL BUSINESS Air mail, weight dispatched ... pounds Money orders: Domestic, issued (50 cities): Number thousands Value... thous. of dol.. Domestic, paid (50 cities): Number thousands.. Value thous. of doL. Foreign, issued—value thous. of dol.. Receipts, postal: 50 selected cities thous. of dol _ 50 industrial cities .thous. of doL_ RETAIL TRADE Chain store sales: Chain Store Age index: Combined index (19 companies)*! av. same month 1929-31 = 100__ 88 79 80 76 75 78 82 84 78 86 85 84 83 Apparel index (3 companies)*! av. same month 1929-31 = 100. 74 88 76 73 63 84 79 81 79 91 84 «82 88 Grocery (6 companies) av. same month 1929-31 = 100.. 80 83 76 74 73 74 83 76 80 79 81 80 »79 Five-and-ten (variety) stores: Total, 8 chains, unadjusted__1923-25=100_. 253 226 100 103 110 125 129 126 123 129 137 141 136 Total, 8 chains, adjusted 1923-25 =100__ 135 117 135 138 121 140 130 142 137 139 151 132 130 H. L. Green Co., Inc.:* Sales.„_... thous. of do!.. 4,071 1,782 1,857 1,994 2,082 2,106 Stores operated number. •too 134 1 ^f! 135 135 135 S. S. Kresge Co.: 9 941 7 yog Sales thous of dol in RQ^ 19 732 18 051 8 054 8 492 10 228 9 407 9 921 10 305 ''718 Stores operated. _„ number 723 721 71Q 790 718 717 *720 716 719 718 S. H. Kress & Co.: 1 e 417 A QOQ A QQft 4 087 Sales thous of dol 9 327 11 441 3 913 3 896 4 7fiR 4 978 5,771 5,586 001 001 001 001 901 232 Stores operated number 230 232 231 230 230 McCrory Stores Corp.: 9 qci O F.A.R Sales thous of dol 2 721 9 ^1 9 filQ 5 830 2 537 2 339 5 664 2 383 2 s fin 2, 867 2, 837 ooc Stores operated . _ number 91 n 242 243 209 243 240 237 227 226 230 G. C. Murphy Co.: Sales._ thous. of dol.. 3,591 2,855 1,130 1,223 1,314 1,629 1,661 1,804 1,808 1,803 1,912 1,994 1.976 Stores operated number _ isn 17fi 17fi 177 178 178 17Q 17Q 17Q 17Q 1"7fl i on 178 * Revised. * New series. For a description of the Chain Store Age index see p. 19, of the Dec. 1932 issue. Comparable data for earlier periods for the H. L. Green Co., Inc., sales not available. f Revised series. For revised data refer to the indicated pages as follow;3 (magazine advertising) p. 20, Oct. 1933; (Chain Store Age combined sales index and index of apparel sales) p. 26, Oct. 1933 issue. SURVEY OF CURRENT BUSINESS February 1934 1933 Monthly statistics through December 1931, 1933 together with explanatory footnotes and references to the sources of the data, may be found Decem- January Februin the 1932 Annual Supplement to the Sur?ey December ber ary 27 1933 March April May June July 19,344 1,935 19, 583 1,937 August SeptemOctober November ber DOMESTIC TRADE—Continued EETAIL TEADE— Continued Chain-stores— Continued. JTive-and-ten (variety) stores— Continued. F. W. Woolworth Co.: Sales thous of dol Stores operated number— Grocery chains: A. & P. Tea Co.: Sales, value total rthous. of doL. Weekly average thous of dol Sales, tonnage, total. tons.. Weekly average _„ tons— Restaurant chains: Total sales, 3 chains: Sales — thous. of dol Stores operated number Childs Co.: "Sales. -. thous. of dol— Stores operated number J. R. Thompson Co.: Sales thous. of dol— Stores operated — number Waldorf System (Inc.): Sales_ tbous. of doL. Stores operated -number . Other chains: W. T. Grant & Co.: Sales thous. of delStores operated number.. J, C Penney Co.: Sales thous. of dol— Stores operated number. _ . Department-store sales and stocks: Sales, total value, adjusted 1923-25=100Sales, total value, unadjusted~1923-25=100-, Atlanta . 1923-25=100— Boston.. 1923-25=100Chicago 1923-25=100Cleveland 1923-25=100 Dallas 1923-25=100 _ Kansas City— _, 1923-25=100— Minneapolis. .1923-25=100New York 1923-25-100Philadelphia* . —.1923-25=100 Richmond ^ —1923-25=100St Louis 1923-25=100.. San Francisco 1923-25 =100— Installment sales, New England dept. stores, ratio to total sales percentStocks, value, end of month: Unadjusted 1923-25=100— Adjusted 1923-25=100Mail-order and store sales: Total sales, 2 companies. .— thous. of dol— Montgomery Ward & Co — thous. of dol— Sears, Roebuck & Co— thous. of dol— 36, 996 1,936 64,479 16, 120 386, 947 96, 737 a 33 102 1,932 79, 616 15, 923 498, 470 99, 694 15, 845 1,927 16, 245 1,927 17, 511 1,929 20, 159 1,929 57, 235 61, 102 74, 981 61, 056 14, 309 15, 276 14 996 15, 264 371, 394 406, 156 495, 192 405, 660 92, 849 101,539 99, 038 101,415 19, 801 1,931 61, 525 79, 503 15 381 15, 901 397, 498 507, 361 99, 375 101, 472 20, 357 1,936 63, 445 76, 005 15, 861 15, 201 382,751 ,458, 606 95, 688 91,721 22, 035 1,942 20, 996 1,942 60,661 63, 856 15, 165 15, 964 357, 638 376, 069 89, 410 94,017 77,631 15 526 460, 525 92,105 21, 642 1,937 3,641 382 3,425 381 3,081 381 3,290 382 3,201 381 3,173 379 3,012 376 3,-045 373 3,298 376 1,554 105 1, 431 105 1,278 105 1, 311 105 1,320 105 1,227 104 1,147 103 1, 142 103 1,191 103 918 117 884 117 784 117 875 116 826 116 865 116 863 911 114 1,082 117 1,119 155 1,169 160 1,110 159 1,019 159 1,104 161 1,055 160 1,081 159 1,002 158 992 156 1,025 156 1,047 155 1,092 155 1,066 156 12, 451 457 11, 368 445 4,270 446 4,491 449 5, 137 451 6,277 451 6,553 451 6,512 452 6,784 454 5,752 454 6,423 454 7, 113 454 6,900 456 25, 824 « 18, 941 1,467 1,476 8,688 1, 473 8,460 1,474 10, 234 1,478 14, 592 1,478 14,433 1,478 14, 617 1,478 13,564 1,478 14, 204 1,477 16, 288 1,471 18, 643 1,468 19, 216 1,933 60 106 96 115 100 90 99 96 85 134 101 137 92 121 60 49 43 50 49 41 42 44 40 66 44 54 43 54 60 49 48 43 46 *41 45 45 37 54 40 51 42 52 57 50 49 51 50 42 53 53 56 65 49 61 47 69 67 68 59 64 63 64 62 62 66 78 60 78 60 68 67 67 66 69 68 61 65 63 60 76 59 81 60 73 68 64 54 65 66 58 54 57 55 77 58 74 57 66 70 49 46 46 48 45 44 44 40 49 39 51 42 67 77 59 65 57 65 61 60 61 56 61 50 66 57 76 70 73 67 73 75 64 67 68 70 78 60 79 63 73 70 77 79 76 76 66 81 74 58 93 73 94 70 72 65 75 71 74 69 61 75 67 54 89 66 87 70 69 «69 « 121 117 115 112 101 121 117 93 140 105 148 101 128 4.1 6.2 7.1 6.3 5.3 6.9 5.7 7.9 12.7 9.8 9.3 7.0 62 65 56 60 52 58 64 57 55 54 55 53 56 55 56 57 56 60 62 64 73 70 77 70 78 69 61,971 25, 022 36, 949 51, 556 21, 055 30, 501 26, 958 10, 100 16, 858 26, 176 10, 114 16, 062 27, 554 11,211 16, 343 35, 365 15, 574 19, 791 37, 778 15, 103 22, 675 38, 986 16, 165 22, 821 33, 566 13, 615 19, 951 40, 327 15, 657 24, 670 43, 219 16, 600 26,619 53, 550 23,017 30, 533 52, 037 20, 742 31, 295 64.1 68.9 73.4 48 4 51.8 55 8 44 1 50 4 47 6 43! 7 39 1 47 2 70 3 76 0 69 4 79.4 84.0 89.9 92 3 100 7 85 0 78.1 78.1 79.7 81.9 83.1 89.3 65 3 72 7 68 1 79 6 85.4 88~7 86.0 88.7 80.1 83 0 77 9 88 6 44 0 39^9 47 6 48.0 57.1 51.8 59 5 53 5 65 4 80.9 82.5 86.9 68.1 77.0 83.3 76.4 86.0 91.6 58.4 43.2 50.0 79.9 85.7 87.8 94.1 96.4 85.8 64 7 66 4 64 9 66.4 65.6 67.6 49.2 44.6 51.7 51 6 58 4 60 9 38.4 41.4 43.7 58 7 64 5 53 8 70.1 64.8 73.3 51.6 46.8 53.9 45.2 42.1 46.9 42.4 37.5 45.3 73 3 67 7 74 9 82 3 92 4 87.5 86.7 95.6 103.3 77.4 76,4 78.3 December 1932 issue. 76.6 55 8 45 4 47 2 78 5 96.2 106 4 844 96.0 75 3 86 6 86.0 89 0 51 1 60^9 67 7 91. 0 84.4 89.6 69.1 88.0 94 5 71 4 67.1 53.4 63 4 44.2 71 9 74.3 53.9 43.1 45 7 75 9 95 9 106.6 83.0 EMPLOYMENT CONDITIONS AND WAGES EMPLOYMENT 71.0 Factory, unadjusted (F.R.B.) ._ _ 1923-25= 100. . 51.9 Cement, clay, and glass 1923-25=100— 34.7 Cement . 1923-25=100 41.8 Clay products.— 1923-25=100.. 81.1 Glass .... ... _. .. 1923-25=100... 100.6 Chemicals and products 1923-25=100109.4 Chemicals and drugs 1923-25=100 Petroleum refining. 1923-25= 100.. 89.6 Food products 1923-25=10092.0 Iron and steel 1923-25=100 70 4 75.2 Leather and products.— 1923-25=100— 72.3 Boots and shoes.. 1923-25=100Leather 1923-25 -100 87 4 46.3 Lumber and products. 1923-25=100Machinery ..-1923-25=100., 61.9 Metals, nonferrous 1923-25=100 61 6 92.8 Paper and printing.. 1923-25=100-. Rubber products..— 1923-25=100— 81.3 84.4 Auto tires and tubes 1923-25=100.. 72.1 Boots and shoes __ 1923-25 =100Textiles and products 1923-25=10079.6 Fabrics 1923-25=100. 87.3 Wearing apparel 1923-25=100 60 3 Tobacco manufactures.-.. 1923-25= 100.. 67.5 Transportation equipment. ,1923-25= 10051.3 Automobiles 1923-25-100 58 6 Car building and repairing __ 1923-25 =10043.4 Shipbuilding 1923-25 = 100 75 4 Factory, adjusted (F.R.B.) 1923-25=10071.8 Cement, clay, and glass —1923-25=100— 53.3 Cement — 1923-25=100.. 36.0 Clay products 1923-25=100 42 9 Glass 1923-25—100 83 1 Chemicals and products 1923-25=100 100 4 Chemicals and drugs —1923-25=100— 107.6 Petroleum refining 1923-25=100.. 90.7 a Revised, 59.6 41.4 34 0 36.1 56. 2 75.4 79.6 75.4 81.5 52.1 70.0 70.3 68 6 36.6 46.0 46 8 81.6 61.8 62.2 60.3 71.1 74.1 63 4 68.8 44.8 45 2 42.7 62 4 60.6 42.6 35.3 37.1 57 7 75.2 78.3 76.3 59.2 66.7 37.8 38.1 30 7 31 0 31.4 31.2 54.4 65.6 78.2 77.3 80.5 80 1 75.7 75.8 78.4 76.9 51.8 49.1 77.3 76.6 79.2 78.8 69.6 67.8 33.4 31.8 44.4 42.8 42 3 45 3 80.1 78.7 59.4 67.0 60.4 62.6 50.4 46.4 72.3 67.7 68.1 73.7 66.7 69 0 63.4 57.6 45. 1 42.5 49.6 43.9 40.3 40.6 57.1 64.1 59.4 66.6 39.9 38.9 33.8 33.1 33.4 32.1 56.0 55.3 76. 4 75.6 78.9 79.1 76.7 76.6 * New series. For earlier 58.1 36.7 31 0 30.4 52.2 76.2 80 2 75.0 78.6 49 6 73.3 74.6 68 1 33.8 44.0 44 4 80.2 69.1 61.3 52. 7 69.6 72.8 61 7 60.4 46.1 50 4 41.3 60 9 59.4 39.4 34.0 32.8 55.7 76.4 79.7 76.4 57.8 60.0 40.5 43 7 36 7 38 4 32. 6 35 3 68.6 63 2 82.4 78.9 78 8 80 8 75.9 76.8 78.2 80.2 50 6 53 2 75,0 76.4 77.7 77.8 63 9 70 9 32.8 35 3 43,1 44.5 44 4 47 9 78.4 79.4 57,1 60.2 60.6 66.6 46.7 40.8 73.0 69.7 69.6 75.7 69 8 66 1 66.3 64.2 41.4 43.7 44 4 47 8 38.5 39.7 49 8 53 4 57.7 60.6 40.2 42.6 37.3 37.6 32.2 34.2 62 3 57 8 77.6 80 3 82.1 78.1 76.9 75.9 data see p. 20 of the 75.8 54 2 72.6 53 2 on o on n 45 6 79 3 99.4 109 0 87.8 97.4 73 8 84 9 84.2 87 9 51 7 62.7 67 0 92.8 83.4 87.7 70.2 87.6 94 0 71 7 70.2 50.9 56 8 44.1 74 1 73.9 52.9 37.7 44 9 77 n qn 1 107.9 87.9 43 4 80 3 100.3 mo 88.6 95.1 71 7 75 4 73.2 QA q 48 9 62.4 fid. 4. 92. 4 81.8 85.2 71.6 83.7 90 9 fie. a 71.9 47.9 en i 44.0 no 72.4 52.8 38.5 4.O A 70 n QQ Q 107.9 89.4 28 SURVEY OF CURRENT BUSINESS Monthly statistics through December 1931, 1933 1933 together with explanatory footnotes and references to the sources of the data, may be found Decem- Decem- January t£»-| March in the 1932 Annual Supplement to the Survey ber ber February 1934 1933 April May June July August |»"| October | **«£»• EMPLOYMENT CONDITIONS AND WAGES—Continued EMPLOYMENT—Continued Factory, adjusted (.FMS.BO—Continued. G>> 5 92 g 79.2 Food products _ 1923-25= 100. . 90.3 79.6 80.0 81.2 82 6 78 4 83 6 89 7 93 9 93 4 71.4 51.4 Iron and steel... 1923-25=100.. 52,8 50.6 48.3 50.0 52.5 68.1 66.3 73.2 74.7 73.6 72.0 77.2 Leather and manufactures 1923-25=100.. 72.0 72.9 75.6 76.4 79.7 86.4 75.7 83.9 85.7 83.3 82.0 75.8 74.9 74.4 72.9 Boots and shoes 1923-25= 100.. 77.5 81.4 79.3 78.0 84.7 86.0 85.7 81.9 80.6 73.9 87.0 66.9 Leather 1923-25=100.. 68.3 67,5 66.2 64,4 72.6 84.6 80.3 89.0 88.9 88.0 83.8 46.7 34.4 Lumber and products..,. 1923-25=100.. 36.8 35.0 35. 7 46.6 32.5 33.3 40.0 43.8 49.4 49.9 47.9 62.6 44.2 Machinery ..1923-25=100.. 46.4 44.5 42.2 44.2 42.6 47 7 51 7 57 1 61 1 63 1 63 3 62.3 47.4 44.8 Metals nonferrous 1923-25=100 . 44.4 41 0 43 4 47 4 60 3 66 1 53 6 68 6 65 2 67 9 92 3 91.2 80.2 Paper and printing 1923-25=100-. 79.6 79,9 79.9 83 4 78.5 78 8 81 6 88 1 91 2 91 2 83.4 63.2 59.7 59.1 76,4 Rubber products 1923-25=100.. 56.6 56.7 59.7 81.9 67.8 82.2 83.7 85.3 88.8 65.4 62.6 Auto tires and tubes 1923-25=100,. 62.3 84.4 65.3 89.0 59.7 59.6 75.0 87.2 89.2 91.0 67.4 51.2 Boots and shoes 1923-25=100.. 56.3 49.6 46.2 52.4 47.3 47.9 42.9 60.5 67.4 67.2 67.9 69.2 70.4 70.4 91.2 Textiles and products 1923-25 =100.. 78.8 65.4 68.5 73.4 81.6 90.3 88.4 86.2 82.7 72,2 72.2 85.9 72.9 69.2 66.9 75.9 97.6 99.8 Fabrics 1923-25=100.. 86.7 95.9 93 1 89 3 64.0 61.5 67,4 66.1 61.9 66.8 71,9 69.6 Wearing apparel 1923-25 = 100, . 60.9 68.7 69 8 68 8 65 9 66 4 67.7 64.9 Tobacco manufactures .. - .1923-25=100— 64.1 65 4 67 3 67.7 57.8 57.5 66 9 65 2 66 8 67 8 47.4 47.4 45.0 51.4 Transportation equipment 1923-25^ 100— 54.7 41.9 43.9 49.3 41.7 40.1 52.8 51.0 50.7 51.6 53.3 48.9 58.8 66.9 41.9 41.5 43.8 50.3 59,7 Automobiles 1923-25*10061.5 56.8 56.4 41.2 42.8 41.1 Car building and repairing. .1923-25 =100.. 42.0 38.2 38.3 39.4 43.5 40.5 43.5 44. 0 43.9 44.1 68.2 62.4 59.1 54.1 52.1 53.2 75.4 50.9 47.0 60,1 Shipbuilding 1923-25=10077.2 74.1 79.0 Factory, by cities and States: Cities: 61.2 «63.9 63.5 73. 9 64.3 75.8 60.5 63.6 64.8 71.1 Baltimore * — 1929-31=10079.1 80.9 76.8 49.2 60.9 49.8 49.7 48.2 49.3 63,4 56.7 64.0 Chicago * 1925-27=106.. 51.1 65 3 65 6 63 0 66.8 61.7 78.6 83.6 66.6 73.9 66.6 65.3 68.8 Cleveland" Jan. 1921^100— 82. 1 83 3 79 6 82 6 49.2 28.8 60.0 62.8 64.7 48.0 41.8 52.5 60.7 61.7 59.6 Detroit 1923-25=100— 37 3 41 6 54.1 57.4 68.2 71.9 54.4 53,7 54.3 76.6 61.0 Milwaukee * 1925-27=100.77 1 79 2 79 1 76 7 59.2 63.4 58.0 59.1 57.9. 55.8 56. 3 67.8 68.4 New York „ 1925-27 =100., 67.4 69.0 70 0 67 8 58.8 72.9 58.9 57.8 64.1 66.6 60.9 57.1 60.9 Philadelphia f 1923-25=100.. 76 8 78 3 81 4 79 3 56 1 57.6 66 1 64 2 68.5 75.7 Pittsburgh * 1923-25—100 59 0 74 7 60 8 55 4 73 4 77 4 75 2 States: 94.2 75.2 74.2 74.1 70.3 87.9 72.1 80.0 Delawaref 1923-25=100— 73.8 98 1 92.7 95 1 94 2 52.1 50.7 57.2 60.9 67.9 51.7 51.7 53.6 50.8 69.7 Illinois 1925-27=100,. 65.4 68 9. 66 2 88.2 93.0 85.6 86.4 95.3 83.2 83.7 90.5 92.6 99.3 Iowa 1923=100.. 99.8 101 9 98 8 73.2 60,3 56.4 69.0 58,1 56.2 59.1 58.5 62.9 75.1 69 1 Massachusetts*! 1 925-27 = 100. _ 76 5 72 9 67.5 65.4 67 5 78 9 84.0 «69. 3 68 3 71.0 Maryland* 1929-31 = 100 64.3 81 2 88 3 90 1 85 5 62.2 70.4 63.4 67.3 74.9 65.2 60.8 New Jersey t - -1923-25=100. 60.9 63.7 79 5 79 8 80 5 80 5 62.2 55.4 56.3 55,3 57.1 65.7 57.1 53.7 59.5 69.6 New York .__.„— 1925-27 =100.. 66 2 69 6 67 4' 61.5 77.8 81.9 60.6 57.4 60.5 72.5 60.7 65.7 83.7 Ohio .1926=100— 79.8 83 2 "80 5 68.2 73.4 60.3 61.8 63.3 58.8 59.0 62.6 65.5 72 9 76.8 Pennsylvania t 1923-25= 100— 77 0 76 1 57.3 75.9 77.5 58.8 69.6 •58.6 60.8 63.3 68.8 79.7 Wisconsin 1925-27=100— 76 5 80 0 78 3 Nonmanufacturing (Dept. of Labor): Mining58.7 52.5 43.8 47.7 62.3 54 6 43.2 51.6 39.5 Anthracite 1929=100. 56 8 54 5 56 9 61 0 63.2 68.6 69.8 69.3 61.2 61.3 70.0 67.6 63.7 71.8 Bituminous coal 1929=100. 75:4 68 0 74 8 32.4 33.0 36.8 31.5 33.3 30.0 29 4 30.0 31.5 Metalliferous 1929=100 38 9 40 6 40 7 40 6 57.2 69.5 60.8 57.2 57.0 66.2 Petroleum, crude production., .1929 =100. 56.5 56.8 66.9 58.0 75.0 70.6 72.2 49.5 51.6 Qtiarrying and nonmetallie— .-1929= 100— 42.3 35,1 34.8 39.3 43.4 47.3 35.1 45.3 52.6 53.2 51.1 Public utilities: 69.4 70 6 70 4 69.5 69.1 Electric railroads 1929 = 100 71 4 69 8 69 5 69.3 69 7 70 8 70 6 71 0 77.4 77.3 77.5 77.7 78.1 78 4 76.9 76 9 76.9 Power light, and water 1929=100 80 3 81 8 82* 2 82 6 72 3 68 5 68.1 74 6 73 9 Telephone and telegraph 1929—100 74 8 73 2 70 1 69 2 68 3 69 4 68 7 68 9 Trade: Retail ., 1929=100. 73.4 74. 6 78.1 95.2 76.9 71 4 77.0 78.6 78.3 86.0 105 4 89 6 91 6 §3' 5 79.7 75 3 76,9 Wholesale - 1929 = 100 73 1 74 0 77 0 74.1 73 3 75 7 82 1 83 3 83 4 Miscellaneous: 98.3 Banks, brokerage houses, etc.*f .1929= 100. 98.0 97.5 96.2 96.2 97.7 99.0 99.3 96.8 96.5 97.3 99.4 99.6 112 7 Canning and preserving 1929=100 34 1 35. 1 76 6 33 7 49 2 45 5 55 6 49 4 175 6 126 3 69 3 83.1 75.2 82.9 Dyeing and cleaning*1929=100. 73.0 70.9 71.2 82 0 88 6 81 1 85.6 76 3 88 4 82 4 73 6 77 1 73 8 73 8 72 4 71 9 75 6 Hotels 1929—100 73 2 71 9 78 7 77 6 77 0 75 8 77.9 76.3 Laundries* 1929=100. 75 4 74.4 75 9 73 0 73 5 76 0 75 2 73 4 79 3 78 0 75 3 Miscellaneous data: 21.3 26.8 29.1 Construction employment, Ohio— 1926=100. 23.9 20.1 22.1 28.3 24.8 26.9 27.3 24.0 28.1 «29. 1 Farm employees, hired, average per farm number. .74 .72 .69 .96 .64 .79 1.05 .86 1.01 Federal and State highway employment, total* number- 362, 031 290, 465 266, 443 255, 256 279, 213 299, 882 330, 138 359, 605 332, 277 329, 813 337, 973 384 029 420 069 Construction* - number 221 168 150 479 115, 404 114,567 133 595 162 816 187 371 206 664 190 633 171, 576 177 413 212 727 249 239 Maintenance* number 140 863 139 986 151, 039 140, 689 145, 618 137 066 142 767 152 941 141, 644 158, 237 160 560 171 302 170 830 Federal civilian employees: United States* - -. number 628 713 600, 943 599, 990 600, 311 603, 818 605, 554 610 652 601, 944 591, 166 592, 490 602 465 613 242 624 118 Washington number 66 302 66, 800 66, 802 66 560 65 991 67, 715 67 063 67 557 75 450 65 437 69 740 71 054 73 131 960 956 1 031 Railroad employees class I thousands '981 994* 934 952 1 005 939 1 047 973 1 042 1 014 Trades-union members employed: 65 66 All trades percent of total 71 66 66 69 69 67 71 67 69 73 72 30 29 Building trades*™ percent of total. 28 33 34 38 31 29 31 33 37 38 37 50 Metal trades* percent of total 53 64 54 51 55 58 51 61 53 55 64 64 80 78 Printing trades*. - ....percent of total. 80 81 78 78 78 77 78 77 77 79 80 79 78 All other trades* percent of total 80 79 80 78 81 82 81 80 81 82 84 44 45 44 On full time, all trades. ..percent of total. 49 46 48 49 46 47 48 51 52 50 LABOR CONDITIONS Factory operations, proportion of full time 93 99 92 84 85 84 84 worked, total percent. 86 88 91 92 90 93 95 94 90 89 90 Chemicals and products .. percent. 89 92 94 93 94 95 94 94 93 94 93 92 95 Food products _ percent 94 95 94 95 94 94 96 96 92 80 86 90 Leather and products percent 93 88 88 94 98 90 95 96 93 92 73 Lumber and products percent . 77 77 82 73 91 89 84 95 87 94 96 Metal products: 70 72 68 86 70 Iron and steel percent 73 85 77 85 82 87 87 85 77 89 78 80 73 Other — . percent. 76 86 81 85 86 87 88 89 88 96 86 Paper and printing.. ^. percent85 87 88 89 92 91 94 96 96 95 85 83 90 83 Stone, clay, and glass -percent78 84 87 89 91 89 92 91 90 92 90 89 90 87 Textile products ....percent.. 90 93 96 97 96 97 95 •92 89 82 80 79 Tobacco products ._ .percent.. 78 83 83 85 84 86 90 89 88 95 84 87 Transportation equipment ^ percent. . 86 83 90 90 89 91 95 90 95 95 85 Automobiles percent-96 80 82 76 90 92 88 90 100 93 98 99 Hours of work per week in factories:* 35.2 34.0 32.2 Actual, average per wage-earner hours— 35.4 34.9 33.8 37.4 42.6 41.2 38.8 36.8 34.0 36. 2 « Revised. * For earlier data see the following references: Hours of work, p. 18, Dec. 1932; employment in Baltimore, Milwaukee, Maryland, and Massachusetts, Federal civilian employment and trade-union members employed, pp. 18 and 19, Dec, 1932; employment in laundries, dyeing and cleaning establishments and banks and brokerage houses, etc., Federal and State highway employment and employment in Chicago, pp. 19 and 20, June 1933; Pittsburgh employment, p. 18, Jan. 1934. t For revised data refer to the indicated pages as follows: Employment in Delaware, New Jersey, Pennsylvania and Philadelphia, p. 19, Sept, 1933: and for Massachusetts employment for 1931,1932, and 1933, p. 19, August 1933. Employment in banks, brokerage houses, etc., for 1932, p. 28, Jan. 1934. February 1934 29 SURVEY OF CURRENT BUSINESS 1939 Monthly statistics through December 1931, 1933 together with explanatory footnotes and references to the sources of the data, may be found Decem- Decemin the 1932 Annual Supplement to the Survey January FebruMarch ber ber ary 1933 April May June July August September October |Nobve,m' EMPLOYMENT CONDITIONS AND WAGES—Continued LABOR CONDITIONS— Continued Labor disputes: t 116 Disputes .number. 41 49 12 29 32 46 45 68 73 110 Man-days lost ._ __ ... number.. 40, 492 240, 912 109,860 445, 771 535, 039 603, 723 504, 362 1,404,850 1,401 532 3, 528, 925 3,619,116 Workers involved . number . 8,790 997 6,706 12,794 19 867 16, 584 24, 593 101 041 49 058 160 861 128 251 Labor turnover (quarterly) :* Accessions percent of no. on pay roll-. 11 31 10.50 8.50 20 86 22 88 Separations! .62 Discharged percent of no. on pay roll-. .43 .52 .38 .78 Laid-off percent of no. on pay roll.. 11.34 8.75 10.14 4.46 6.31 Voluntary quits percent of no. on pay rolL. 2.18 1.77 1.56 2 23 4 16 PAY BOLLS Factory, unadjusted (F.R.B.)... 1923-25= 100,. 53.1 57.4 39.2 40.0 53. 6 55.7 40.9 42.0 46.2 49.9 36.9 38.6 57.6 Cement, clay, and glass. 1923-25=100,. 32.0 34.1 32.8 23.3 20.9 20.2 22.0 30.2 20.6 25.1 34.6 34.1 29.1 24 6 Cement 1923-25=100 18 9 22 8 16 1 16 0 16 4 18 4 21 2 27 6 31 6 18 3 25 1 25 6 21 2 Clay products - - .1923-25=100 22.2 13.4 14.3 23 3 17 5 13 8 14.2 25 3 24 8 15 9 18 8 25 0 Glass 1923-25=100.. 36.0 59.5 58.2 37.3 58.6 37.8 39.9 52.1 55.2 36.7 49.8 45.9 57.4 Chemicals and products - . —1923-25=100 _ 78.8 60.7 60 8 60 8 67 9 59.8 60 4 72 2 78 2 61 9 64 6 78 7 74 3 Chemicals and drugs 1923-25 = 100. _ 85.5 60.5 60.6 61.1 62 0 84 6 59.8 72 6 79 4 85 2 58 4 66 9 80 0 Petroleum refining... 1923-25=100.. 72.5 64.6 62.8 64.3 72.5 72.9 64.5 63.8 65.1 66.3 66.1 66.7 69.8 Food products..1923-25= HKL. 66.1 64.1 78.1 62.7 78.8 77.2 59.8 62.6 64.8 66.3 68.2 71.7 78.2 Iron and steel.. 1923-25=100.. 44.8 24.2 22.7 24.7 22.4 24.4 42.4 44.4 36.2 49.3 29.5 52.7 49.0 Leather and products. 1923-25=100.. 54.4 43.7 50.0 42.0 57.4 47.1 64.2 45.9 50.8 69.3 64.0 53.3 68.7 Boots and shoes 1923-25= 100... 41.7 48.6 49.0 38.7 46.2 46.0 49.2 62.2 67. 7 60.9 48.4 54.9 67.0 Leather... 1923-25=100.. 75.4 50.9 53.9 53.9 45.4 50.3 66.4 71.4 75.1 75.3 56.6 70.9 74.8 Lumber and products 1923-25=100.. 16.3 27.5 18.8 16.3 14.3 18.0 28. 9 33.5 15.6 21.7 24.6 33.1 30.0 Machinery .. 1923-25=100,. 26.0 43.0 28.0 26.3 24.4 24.0 27.4 32.0 38.9 43.4 43.3 35.7 41.2 Metals, nonferrous 1923-25=* 100.. 30>1 27.5 27 4 25 1 46 2 41 4 50 4 27 4 34 5 46 5 50 2 47 2 51 4 Paper and printing 1923-25=100.. 67.0 77.2 69.8 65.8 62.4 63.3 64.9 66.6 67.8 70.8 76! '0 75.6 74.6 Rubber products ....1923-25=100.. 35.4 39.8 60.7 35.8 31.1 64.4 34.2 46.2 65.2 57.3 57.8 62.8 62.9 Auto tires and tubes 1923-25=100.. 49 0 59.0 36.7 34.8 35.7 31.7 62 0 69 7 66 4 35 2 55 8 62 0 62 8 Boots and shoes.,. 1923-25=100,. 52,2 38.0 36.3 67.6 28.6 56. 5 30.2 38.4 47.3 65.9 34.7 65.9 63.4 Textiles and products.1923-25=100.. 46.4 44,2 48.2 41.3 58 1 45 2 67. 0 46 8 53 6 58 9 69 2 63 0 70 7 Fabrics 1923-25=100.. 46.6 48.4 50.1 66.8 40.8 43.0 50.1 77.0 60,5 67.2 75. 2 71.1 75.1 39 4 Wearing apparel 1923-25=100.. 39 2 39.1 47. 7 42.4 40 3 40 1 49 8 41 9 46 9 46 5 61 8 57 1 47 3 eo o KK K Tobacco manufactures . 1923-25=100 50 4 38.3 40 2 50 4 36 0 48 2 45 5 47 3 35 9 54 4 Transportation equipment 1923-25 = 100. . 40.2 34.0 32.1 33.8 29.2 30.6 43.9 35.3 36.0 38.3 38.0 41. 7 43.0 Kf» 1 32 2 Automobiles 1923-25 = 100 32 0 36.3 27 0 43 3 32 3 40 4 52 5 43 2 46 1 43 3 37 3 Car building and repairing.. 1923-25 =100.. 30.8 33.5 30.8 35.6 29.9 31.4 36.4 28.6 30.6 29.8 36.5 38.7 35.9 37 4 40 3 Shipbuilding ....1923-25=100.. 52.4 44.2 46.6 40.3 40 3 44.9 61 2 49 5 58 0 56 8 58 8 Factory by cities: 42.5 Baltimore * 1929-31=100 . «45.5 42. 5 41.4 62 7 44 3 46 9 60 9 58 1 65 4 65 1 67 5 68 8 28.4 Chicago* ... 1925-27=100.. 28.3 37.3 28.6 26.4 25.7 32.2 29.3 35.2 39.5 39.4 37.5 39.9 Milwaukee* . .1925-27=100.. 31.6 30.2 30.3 27.7 51.7 34.8 38.7 47.7 52.0 45.8 53.4 51.5 51.8 New York * 1925-27=100.. 46.2 44.0 45. 1 43.7 46.0 50.5 53.2 47.4 45.6 46.5 53.6 55.9 57.3 40.1 Philadelphia t— — — — ----- 1923-25=100.. 42.6 39.6 37.5 37.9 41.8 48.0 57.2 45.3 54.8 59.8 59.4 63.1 Pittsburgh *... 1923-25=100.. 25.9 24.2 26.4 25.7 30.5 42 3 52 7 27.5 46 4 38.7 47 6 45 7 49 0 Factory, by States: 52.2 49.6 51.4 47.0 51.2 64.9 Delaware t 1923-25=100.. 66 5 45 0 56 9 66.0 65 5 67 7 67 7 Illinois _._1925-27=100__ 29.1 28.5 29.6 27.2 28.2 31.3 42.6 40.5 35.4 37.9 40.3 43.0 43.0 Maryland* ,1929-31 =100... 44.7 4S.4 45.7 44.0 45.9 67.9 67.4 49.1 60.5 53,1 69.5 73.0 73.8 en A KQ A 37 2 Massachusetts *f 1925-27=100 41 8 39 7 42.3 42 2 53 0 57 3 52 8 38 0 47 0 55 7 57 5 New Jersey f 1923-25=100 49.6 46.2 47.5 43.5 54 4 fin n 45 2 48 1 61 2 52 1 62 0 61 6 New York 1925-27=100 . 40.1 42.6 40.7 38.4 42.4 45 1 48.0 51.0 51 3 40 1 51 8 54 1 55 0 Pennsylvania f ._ 1923-25 =100,. 37.4 33.7 34.8 42.0 50.5 32.5 45.3 53.0 33.4 37.6 52.3 55.0 53.5 KO Q Wisconsin 1925-27=100 32.5 35.0 34.0 49 2 53 3 32.6 40 6 46 8 50 1 36 4 52 3 55 3 Nonmanufacturing (Department of Labor): Mining: Anthracite 1929=100.. 43.2 56.2 56.8 46.6 44.3 38.2 48.8 37.4 30.0 34.3 47.8 61.6 60.7 Bituminous coal . ...__ .1929=100 37.7 37.2 36.1 30.7 43 3 29 2 26.9 33 6 50 8 26 6 50 7 44 1 44 1 OC Q no n Metalliferous 1929=100 18 7 18.1 17 8 21 9 17 4 17 0 19 0 26 2 16 4 18 3 25 6 Petroleum, crude production . . . 1929 = 100. . 53.2 39.9 41.7 41.7 42.5 42.2 42.5 40.1 41.6 40.6 50.3 44.4 50.1 Quarrying and nonmetallic .1929=100.. 22.1 18.1 17.4 28.4 24.4 20.2 17.8 23.8 27.6 29.9 28.3 31.2 29.3 Public utilities: Electric railroads. 1929=100. 61.9 60.9 60.6 59.4 59 6 58 1 58.2 57 4 58 2 58 0 59 4 59 8 57 8 Power, light, and water..,. 1929=100.. 73.2 73.0 71.6 71.9 69.4 69.9 74.4 70.0 69.9 70.9 74.5 76.2 71.8 Telephone and telegraph 1929=100.. 71.7 71.9 73.5 71.6 67.7 67.8 68.5 66.7 66.1 66.6 67.7 67.0 64. 6 Trade: 62.7 58.4 Retail,. - 1929=100.. 73.6 55.1 60.4 58.1 80.3 59.5 60.5 62.7 72. 6 72. 3 69.2 61.7 Wholesale . . 1929=100 £8.6 62.6 57.1 56 0 57 4 59 1 64 5 57 3 60.8 64 1 66 0 62 3 Miscellaneous: Banks, brokerage houses, etc. *f ,1929= 100. _ 85.2 84.3 87.4 85.5 82.9 83.2 84.4 84.4 83.7 84.8 80.1 84.7 84.5 Canning and preserving 1929= 100.. 25.6 24.8 25.9 39.0 24.2 33.5 46.2 68.3 31.8 36.7 50.8 87.1 127.0 Dyeing and cleaning * -.1929=100.. 48.4 46.6 42.4 50.0 41.0 54.6 52.8 53.9 56.7 52.8 55.4 60.6 60. 3 Hotels _ 1929=100 55.7 56.6 55.9 53.5 57 6 51 8 52 3 53 3 54 0 51 7 55 2 56 2 55 6 Laundries* „. 1929=100.. S7.9 68.7 55.5 58.3 52.9 54.0 54.6 56.1 57.6 56.7 57. 9 59.7 60.6 WAGES-EABNINGS AND BATES Factory, weekly earnings (25 industries): * 16.21 All wage earners .dollars.. 18.58 16.37 16.13 14.56 15.39 18.49 19.15 19.25 16.71 18. 51 19. 46 19.46 Male: Skilled and semiskilled dollars . 21.15 18.83 18.55 18,67 16. 54 22. 16 21 99 21 22 17.75 18 94 21.18 22 04 22 40 Unskilled dollars 13.92 15 21 13.89 13.66 12 27 16 17 14 42 13 30 15 83 16 48 15 02 16 59 15 97 10.97 Female.- . ... _ . . - dollars 10.96 13 53 11.56 9.93 13 83 10.09 11 03 12 30 12 93 13 79 14 28 14 21 61,5 60.9 All wage earners 1923=100. 69'. 8 60.6 54.7 72.3 57.8 72 0 62 8 69 5 69 6 73 1 73 1 Male: Skilled and semiskilled....... 1923 =100.. 60.2 61.1 60.6 68.7 53.7 57.6 71.4 61.5 68.8 71.9 68.9 72.7 71.6 Unskilled 1923=100.. 61.3 62.3 62.5 68.3 55.1 59.7 64.7 71.1 74.0 72.6 67.4 74.5 71.7 63.6 67.1 Female 1923=100.. 78.5 63.6 57.6 58.5 80.2 64.0 71.3 75.0 80.0 82 8 82 4 Factory, av. hourly earnings (25 industries): .548 .467 .468 .464 All wage earners *. ,. .dollars.. .460 .452 .460 .453 .455 .545 .497 .540 .531 Male: .606 .529 Skilled and semiskilled * dollars.. .527 .527 .521 .522 ,604 .511 .517 .513 .560 .596 .590 .391 451 .380 .381 Unskilled * dollars*368 .375 .373 .369 375 445 409 444 432 .402 .305 Female *_... dollars.. .303 .298 .294 .299 .297 .300 .303 .362 IsOfi .403 .404 0 Revised. * New series. For earlier data on the following subjects refer to indicated pages of the monthly issues as follows: Weekly earnings and turnover rates, p. 20, Oct. 1932; hourly earnings and pay rolls in Maryland, Massachusetts, Baltimore, and Milwaukee, pp. 19 and 20, Dec. 1932; pay rolls of laundries, dyeing and cleaning establishments, and banks, brokerage houses, etc., and factory pay rolls in Chicago and New York, pp. 19 and 20, June 1933; Pittsburgh pay rolls, p. 18, Jan. 1934. t For revised data refer to the indicated pages as follows: Labor disputes, 1932, p. 29, July 1933; pay rolls in Delaware, New Jersey, Pennsylvania, and Philadelphia, p. 19, Sept. 1933; pay rolls in Massachusetts, 1931,1932, and 1933, p. 19, Aug. 1933; pay rolls of banks, brokerage houses, etc., 1932, p. 29, Jan. 1934. 30 SURVEY OF -CURRENT BUSINESS 1932 Monthly statistics through December 1931, 1933 together with explanatory footnotes and references to the sources of the data, may be found Decem- Decemin the 1932 Annual Supplement to the Survey January ber ber February 1934 1933 February March April May June July October NovemAugust September ber EMPLOYMENT CONDITIONS AND WAGES—Continued WAGES-EAKNINGS AND Continued RATES— Factory, weekly earnings, by States: Delaware _ _. 1923-25=100 . Illinois ._ 1925-27=100Massachusetts*f — - 1925-27=100 New Jersey... _ _ _ _ _ _ _ 1923-25=100-.. New York 1925-27=100.. Pennsylvania _ _ .1923-25=100 . Wisconsin.... _ _. 1925-27 =100.. Miscellaneous data: Construction wage rates:* Common labor (E.N.R.) dol. per hour-Skilled labor (JS.N.R.) dol. per hour-Farm wages, without board (Quarterly) dol per month Railroads wages dol per hour Road-building wages, common labor :# United States dol. per hour East North Central.. __ _dol. per hour _ East South Central dol. per hour Middle Atlantic_ dol. per hour.. Mountain States dol. per hour New England ._ dol. per hour Pacific States dol. per hour-South Atlantic dol. per hour.. West North Central .dol. per hour West South Central dol. per hour.. Steel industry: U.S. Steel Corporation. _ -dol. per hour.. Youngstown district.. .percent base scale .. 75.1 66.7 71.2 84.7 77.4 71.5 63.3 73.7 60.5 70.8 84.1 74.7 59,1 55.7 70.2 60.2 68.3 82.2 72.4 55.7 53.1 •71.7 61.9 70.1 82.7 72.3 56.8 54.1 68.3 57,4 66.2 78.9 71.6 55, 7 52.1 67.2 59.1 67.4 82.0 72.6 57.6 53.9 72.8 63. 1 72.1 83.4 74.2' 61.9 58.5 74.7 66.9 74.7 85.4 75.8 66.9 62.2 78.7 67.1 76.7 85.4 77.2 68.8 61.9 72.3 67.8 78.1 84.7 77.6 74.9 66.2 72.4 66.6 79.0 83.3 79.0 72.2 64.8 74.6 67.3 77.5 84.5 77.8 73.9 66.6 72.8 65.6 76.2 85.0 76.8 71.5 64.5 .514 1.05 .427 .98 .427 .99 .429 .1.00 .427 .434 .1.00 .444 .99 .439 .99 .443 .99 .452 1.02 .506 1.03 .510 1.04 .520 1.06 24 90 23 62 .614 616 631 22 98 .607 613 602 24 27 .603 .608 .597 25 89 .606 603 32 .32 .39 .20 .33 .41 .20 .33 .39 .20 .35 .43 .50; .39 .20 .35 .42 .33 .49 .34 .41 .20 .35 .44 .35 .51 .35 .42 .20 .35 .43 .37 .50 .37 .43 .20 .36 .44 .38 .52 .37 .43 .20 .37 .44 .40 .55 .28 .28 .38 94. 0 .38 .45 .23 .39 .47 .39 .58 .32 .37 .20 .35 .44 .33 .48 .38 .20 .36 .43 .35 .50 ' .35 .44 .33 .51 .21 .35 .99: .32 .40 .19 .36 .43 .34 .50: ' .36 .43 .32 .49 .27 .22 .34 • .27 .38 .38 .38 94.0 94.0 94.0 .25 .38 .21 .34 .22 .34 .31 .27 .27 .28 .44 .38 .38 101. 5 94.0 94.0 .21 .34 . 32 .22! .34 . 33 .38 .45 .21 .38 .45 .40 .57 .24 .37 .22 .35 .23 .35 .28 .28 .25 .36 .25 ,37 .27 .38 .44 .44 .44 .44 .44 94. 0^ 101.5 101. 5 101.5 101.5 101.5 .23 .34 .29 .30 FINANCE' BANKING Acceptances and com'l. paper outstanding: 758 694 715 737 704 738 687 669 764 671 697 710 707 Bankers' acceptances, total mills, of dol... Held by Federal Reserve banks: 1 1 1 18 2 41 164 4 2 307 280 ". 13 127 For own account mills, of dol— For foreign correspondents 41 31 3 40 36 4 37 41 30 43 36 40 45 mills, of dol._ Held by group of accepting banks, total 592 599 517 552 499 404 505 487 604 325 261 mills, of dol 626 271 273 236 252 248 201 206 229 223 224 201 -, 153 Own bills . . .mills, of dol 256 321 282 326 304 247 124 219 287 108 199 276 380 370 Purchased bills mills, of dol 112 138 156 154 147 123 42 62 85 86 115 38 Held by others mills, of doL. Commercial paper outstanding 130 133 123 107 60 84 72 64 109 97 73 81 mills, of dol— 85 ; Agricultural loans outstanding: 133 141 127 82 107 89 83 92 85 . 149 88 .87 86 Credit banks, intermediate mills, of dol— 1,156 1,110 1,125 1,104 1,101 1,213 1, 102 1,112 1,105 ; 1,103 Ir110; 1, 107 Land banks, Federal.... .-mills, of dol_. 1,116 364 372 362 375 354 378 382 390 404 395 386 : Land banks, joint-stock. mills, of doL_ 409 399 24, 131 Bank debits, total— mills, of doL. 26,301 26, 787 24,466 22, 437 22, 062 22, 624 25, 486 29, 712 31, 232 25, 451 24, 555 26, 307 12, 340 13, 280 12, 201 13, 076 17, 354 12, 012 16, 743 13, 977 13,013 13, 967 12, 413 12, 036 12, 454 New York City mills, of dol 11,927 9,608 10, 612 11,509 12,969 13, 878 12, 375 12, 215 13, 027 Outside New York City ..mills, of dol_. 13, 288 12, 820 12, 053 10,401 Brokers' loans: Reported by New York Stock Exchange 789 776 897 845 917 916 311 322 780 360 529 mills, of dol— 347 359 2.74 2.58 2.43 2.55 2. 15 2.50 2.80 1.52 ; 1.56 1.20 1.63 Ratio to market value percent— 1. 83 1. 56 By reporting New York member banks 749 720 806 837 881 371 876 512 764 394 454 . -418 mills, of dol— 635 "Federal Reserve banks: Acceptance holdings. (See Acceptances.) 6,889 6,735 6, 865 7,041 6, 442 6,607 6,464 6,606 6,531 6, 115 6,033 6,610 6, 466 Assets, total mills, of dol— Reserve bank credit outstanding 2,421 2, 549 2,581 2,688 2, 209 2,297 2, 794 2, 572 2, 077 2, 218 2,220 2,145 2,459 mills, of dol— 24 7 7 133 9 7 33 336 305 171 20 48 Bills bought..mills, of doL. 31 116 119 128 98 167 582 164 153 274 302 235 426 435 Bills discounted . mills, of dol— 2,421 2,432 2,277 2, 4.37 2,028 1, 890 1,998 2,129 1, 855 1,763 1,866 1, 838 '. 1,837 United States securities mills, of dol— 3,805 3, 817 3,778 3,794 3,793 3,820 3,813 3, 126 3,331 3,455 3,633 3,457 3,807 Reserves, total.., mills, of dol— 3,591 3,573 3,591 3,588 3,569 3,548 2,952 3,543 3,151 3,256 3,416 3, 520 3,250 Gold reserves ..mills, of doL. 6,735 6,889 6,805 6,607 6,442 6,464 6, 531 6,115 6,033 6,610 6,606 6,466 Liabilities, totaL. -_. mills, of doL. 7,041 2,885 2, 796 2,748 2, 544 2,554 2, 494 2,675 2, 561 2,133 ,2,394 2, 865 2,236 2,380 Deposits, total mills, of dol._ 2, 685 2,573 2,438 2,294 :.. 2,409 2,292 2,141 2, 132 2,729 2, 446 1,949 2,509 2,167 Member bank reserves mills, of doL_ 3,002 2, 966 3,030 3,012 3,094 2,988 3,417 3,696 2,739 2,725 3,428 3,203 = Notes in circulation ..mills, of dol.. 3,080 65.2 67.4 66, 2 64.8 63.8 68.2 68.3 62.9 65.5 55.3 59.3 62.6 Reserve ratio percent-68.0 Federal Reserve member banks: * Deposits: 10,653 10, 505 1.0, 751 10, 427 9,996 Net demand ..mills, of dol_. 10, 952 11, 051 11, 233 9,745 10, 348 10, 918 10, 741 10, 475 4,501 4,470 4,611 4,410 4,533 4,508 4,351 4,622 4, 315 4,330 4,330 4,282 4,406 Time...,. ....mills, of dol8,074 7,989 8,156 8, 104 7.974 7,619 7,884 8,200 8,011 7,910 7, 669 7,941 8, 213 Investments mills, of dol— 8,593 8,540 8,546 8,404 8,568 8,533 8,782 8,281 .8, 332 8,452 8,871 8, 485 Loans, total mills, of doL. 8,385 3,604 3,772 3, 687 3,766 3,620 3,751 3,727 3,644 3, 589 3,789 3,698 On securities ._ .mills, of dol — 3,713 3,748 4,554 4,853 4,989 4, 704 4, 7745,082 5,031 4, 7064, 772 4,999 4,767 4,688 All other loans -.mills, of doL. 4, 765 Interest rates and yield on securities: 1 Acceptances, bankers' prime percent-5/8 H-1A M-H H H H K A frti X-M VA-&A MrUi 2 Bond yields. (See Bonds.) 1.00 .94 3.32 .75 .75 1.00 l 1.00 1.00 1.37 .75 .98 1.00 1.00 Call loans, renewal— _— percent-. Com'l. paper, prime (4-6 mos.) percent-- IU-V/2 iK-iJ* VA-VA 1H-1H IMrVi 2-2M iH-2 i A-i% 1M-1H 2-3M 1H c 1M 2 50 2.50 2.50 2.00 2.50 2.50 "3.50 «2.50 2. 00 2.50 2.50 « 3. 00 "2.00 Discount rate, N.Y.F.R. Bank percent-5.00 5.00 5.58 . 5.58 5.00 5.00 5.' 58 5.00 5.58 5.58 5.58 5.58 Federal land bank loans percent— 5.58 3.13 3.25 3.04 2,96 3.10 3.10 3.13 3.10 3.10 3.10 3.17 3.10 3.10 Intermediate credit bank loans percent-5 50 Real estate bonds, long term - percent— 6.00 Stock yields. (See Stocks.) 54-1 Time loans, 90 days.. .percent-. H-1H M-i H-U H l-VA 1-1M H-H H-H Mrltf 2^-3^ 1-1H Savings deposits: 5,064 5,314 5,317 5,269 5,164 5,085 5,079 New York State , .mills, of dol— 5,220 5,130 5,059 5,113 5,049 5, 029 # Beginning with March 1932, method of computing rates was changed. « Rate changed Mar. 3, Apr. 7, May 28, and Oct. 20,1933. * New series. For earlier employment data see p. 18 of the December 1932 issue. Data for construction wage rates appeared on p. 19 of the September 1933 issue. Earlier data for Federal Reserve member banks shown on p. 18 of the January 1934 issue. These data cover 90 cities and supersede the previous data for 101 cities. They are available only from January 1932 to date. t For revised data on Massachusetts weekly earnings, 1931,1932, and 1933, see p. 19, August 1933 issue. H-y m y* February 1934 31 SURVEY OF CURRENT BUSINESS 1933 Monthly statistics through December 1931, 1933 together with explanatory footnotes and references to the sources of the data, may be found Decem- Decemin the 1932 Annual Supplement to the Survey January ber ber 1933 February March April May June July August SeptemOctober November ber FINANCE—Continued BANKING— Continued Savings deposits— Continued. U.S. Postal Savings: Balance to credit of depositors thous. of dol. _ 1,209,425 «901, 557 °943, 377 «1,007,080 *i-,113,923 «1,159,705 «1,180,336 •1,187,186 1,176,669 1,177,667 «1,180,668 1,189,581 1, 199, 281 Balance on deposit in banks thous. of dol-. 927, 183 792,725 797, 169 852, 986 935, 987 974, 142 978, 286 976,377 960,170 947, 822 «937, 4C9 939, 885 923, 216 FAILURES Bank suspensions: 148 Total _ — number.. 161 241 Deposit liabilities^ . thous. of doll__ 70, 914 135, 020 72,870 Commercial failures: 2,378 1,921 1,472 2,469 1, 948 1, 909 1,648 Total _ _.._.„.. number-, 1,132 2,919 1,421 1,116 1,206 1,237 161 114 Agents and brokers number 172 157 150 169 147 133 120 115 100 112 106 500 Manufacturers, total number 614 462 422 466 362 665 357 325 273 258 314 311 Chemicals, drugs, and paints.. .number.. 14 15 25 9 10 17 17 9 7 4 6 13 6 Foodstuffs and tobacco — . -number 43 42 60 41 35 67 47 48 33 20 23 46 31 11 Leather and manufactures number.. 17 18 11 11 17 18 13 17 4 13 13 9 55 Lumber number 42 62 45 44 59 40 78 30 37 28 36 34 Metals and machinery— __ , number.. 59 63 51 68 66 61 46 49 26 38 27 39 31 Printing and engraving. —number— 27 33 27 32 40 33 38 18 13 20 16 22 27 22 22 24 Stone, clay, and glass . number .. 22 18 17 17 17 11 17 11 16 19 43 41 92 64 Textiles number.. . 75 44 45 30 42 19 29 32 15 Miscellaneous - number 232 219 179 154 131 123 203 157 121 145 105 119 117 Traders, total — number 1,721 1,336 1,282 1,686 2, 182 1,352 1,153 1,003 976 728 774 780 820 9 11 Books and paper ..—.•.number18 17 29 19 20 13 15 5 li 10 7 121 Chemicals, drugs, and paints. . .number. ,, 151 160 86 129 119 97 99 100 58 80 87 63 361 Clothing number 334 194 200 230 148 507 239 138 115 116 117 81 Food and tobacco - number 461 450 351 495 400 387 387 431 284 364 302 310 319 107 41 General stores — number— 123 96 169 61 46 69 36 35 40 43 41 355 Household furnishings number. „ 412 134 250 268 224 212 174 146 93 96 99 105 318 294 174 Miscellaneous ~- — .number . 350 410 272 245 236 177 138 129 170 150 Liabilities, total . ....thous. of dol— 27, 200 64, 189 79, 101. 65, 576 48, 500 51, 098 47, 972 35, 345 27,481 42, 776 21, 847 30, 582 25, 353 9,157 Agents and brokers . thous. of dol 9,721 7, 713 11, 433 8,074 9,367 6,407 4,420 5,655 4,833 9. 096 5,282 8, 447 Manufacturers, total thous. of dol.. 8,658 24, 577 30, 747 24, 363 17, 583 18, 737 19, 021 13,047 8,282 15, 192 7,646 8,850 7,808 Chemicals, drugs, and paints 650 484 5,599 341 thous. of dol— 739 150 287 607 121 14 89 52 267 1,061 1, 170 372 764 Foodstuffs and tobacco -...thous. of dol.. 1,233 545 797 526 228 279 184 493 573 Leather and manufactures 345 35 322 421 311 569 2, 310 525 thous. of dol— 14 559 405 151 576 2,652 3,342 •Lumber,... thous. of dol— 8, 814 4,255 2, 539 2,542 2,166 3,618 2,102 2,285 1,748 993 1, 095 Metals and machinery thous. of doL. 2,464 2,995 2,766 2,527 3, 326 2,867 5,098 2,179 771 858 1, 372 452 1,017 374 678 213 1, 354. Printing and engraving thous. of dol. ^ 923 461 1,410 1,726 404 420 323 415 775 1,482 1,454 631 Stone, clay, and glass thous. of dol— 671 1,007 975 1,118 1,271 248 436 487 874 506 3, 142 1,120 591 1,463 Textiles thous. of dol._ 4, 385 951 904 948 355 689 668 437 343 6, 661 Miscellaneous _ thous. of dol— 8, 467 7,389 5,125 7,628 5, 803 2,635 3,510 3,707 10, 172 13,457 4,537 2, 777 Traders, total thous. of dol— 9,368 13, 285 9,446 29, 890 36, 921 32, 056 23,204 25, 954 20, 877 17, 878 13, 544 18, 217 12, 263 72 272 221 320 Books and paper thous. of dol 334 90 374 687 31 223 61 195 293 Chemicals, drugs, and paints 1,574 1,376 thous. of dol.. 1,514 1,806 1, 277. 4,093 1, 103 1, 366 882 598 792 746 , 750 4,312 5,051 2,741 2,432 2,347 Clothing thous. of dol— 6, 224 3,576 2,888 1,113 1, 401 1, 149 1,232 1,042 6,757 Foods and tobacco thous. of doL. 2,854 7,987 5,064 9,101 5,805 4,619 5,766 4,576 2,928 3,971 3, 859 4,068 491 3,040 General stores thous. of dol. 2,058 3,600 1,608 793 952 587 218 446 595 420 371 7, 324 2,334 4,692 Household furnishings thous. of dol— . 1, 324 4,672 3,331 9,249 6,378 4,421 1,754 2,363 1,910 1,633 4,394 7,941 7,054 Miscellaneous thous of dol 7,206 5,140 9,903 5,656 6, 447 2, 726 4,258 4,840 4,140 2,720 LIFE INSURANCE (Association of Life Insurance Presidents) 17, 030 17, 107 17, 134 17, 162 17, 212 Assets, admitted, totalf ...mills, of dol— 16, 917 16,966 16, 084 16,981 17, 020 17, 047 5, 747 5,837 JVIortsago loans mills of dol 6,110 6,002 5,910 6,136 6,077 6,033 5,960 5,794 5,876 1, 266 1,300 1,382 1,402 1,322 Farm mills of dol 1,394 1,368 1,357 1,343 1,286 1,311 4,481 4,645 Other mills of dol ------ 4,734 4, 716 4,695 4,665 4,588 4,617 4,508 4,565 ' 4, 537 Bonds and stocks held (book value) 6, 480 6,389 6, 259 mills of dol 6,231 6,238 6,266 6,275 6,293 6,267 6,326 6,428 3,650 1,569 Government mills of dol 1,400 1, 465 1,494 1,406 1,427 1,447 1,466 1,522 1,599 1,692 1,681 1, 672 Public utility mills of dol 1,670 1,670 3,669 1,671 1,666 1,665 1,671 1,689 2,618 2,619 Railroad. mills of dol 2,639 2,638 2,637 2, 631 2,613 2, 627 2, 618 2, 615 2,619 520 522 520 Other mills, of-dol— 523 523 518 517 517 518 521 518 Policy loans and premium notes 2,945 mills, of doL 2, 957 2,948 2,997 2,97" 2,967 2,987 2,970 2,987 2, 965 2, 951 Insurance written: f 1,082 1,096 1, 071 934 Policies and certificates thousands 990 .96 1, 156 923 I,o47 1,076 1,034 1,076 962 23 30 47 Group— --. — » —thousands.. 14 12 25 18 43 9 .4 14 33 33 772 812 773 881 Industrial ,. thousands 681 792 648 686 770 762 ?•' 1 802 702 246 269 275 Ordinary thousands. _ 299 239 257 227 259 235 258 258 242 226 Value, total thous. of dol— 715, 256 741, 920 614, 431 609, 725 640, 414 628, 778 645, 320 687, 776 666, 095 688, 620 577, 776 657, 362 681, 049 41, 483 Group thous. of dol— 55, 693 67, 810 22, 546 16, 842 17, 345 21,711 22,450 43, 295 42, 456 24, 437 23, 028 25,920 Industrial ,_ thous. of dol— 194, 030 154, 864 168, 312 168,400 187, 761 183, 462 190, 138 198, 046 205, 780 229, 545 180, 105 212, 452 202,843 Ordinary ... —-thous. of dol-. 465, 533 519, 246 423, 573 424, 483 435, 308 423, 605 432, 732 446, 435 417, 859 434, 638 374. 643 418, 990 436, 723 335,642 242, 251 229, 590 229, 160 227, 102 241, 776 237, 338 254, 831 223, 281 20*, 976 225, 336 214, 682 Premium collections t-— thous. of dol— 15, 876 28, 752 17, 283 Annuities _ thous. of dol— 17, 612 14, 545 13, 906 15, 308 22, 056 36, 407 21,900 17, 051 19, 024 7,216 6, 909 7,902 Group ; thous. of dol— 7,571 7,412 8, 644 9,235 8, 718 6,878 7,786 8, 252 6,842 53,612 46, 253 Industrial thous. of dol— 116, 838 59, 243 51, 997 50, 448 48, 519 53, 440 50, 987 54, 025 47, 853 52,939 145, 644 Ordinary thous. of dol— 181, 408 156,161 152, 739 155,449 157, 799 165,242 156, 883 156, 147 145, 626 132, 144 145, 484 (Life Insurance Sales Research Bureau) Insurance written, ordinary total 504 465 548 474 462 464 mills, of dol— 538 481 490 493 495 483 418 .194 215 217 233 217 211 207 Eastern district mills, of dol. . 209 206 209 213 195 167 45 50 44 56 46 49 48 Far Western district , mills, of dol— 51 45 47 47 50 43 54 58 67 58 Southern district mills of dol 48 51 48 53 58 55 57 56 52 172 181 180 208 196 172 160 166 158 177 182 Western district .mills, ofdol— 178 156 Lapse rates.-. 1925-26=100, 148 132 154 136 MONETARY STATISTICS Foreign exchange rates: 0.586 0.586 0.794 0.861 0.920 0.586 0.583 0.605 Argentina dol. per gold peso— & 0. 758 0.679 0.711 0.807 0.861 .223 .192 .207 .139 .139 .140 Belgium _. __ . dol. per belga__ .217 .140 .145 .163 .171 .195 .207 .085 .086 .086 .076 .076 .076 .076 .080 Brazil dol per milreis . 076 .076 .076 .079 .082 .976 1. 012 .875 1.006 .866 .835 .876 .899 .943 Canada dol. per Canadian dol .835 .847 .945 .965 .089 .096 .101 .060 .082 .060 .060 .060 .060 .075 Chile. _ dol. per peso. _ .063 .084 .087 5.12 3.42 . 3.43 4.67 5.15 3.28 3.36 3.58 3.93 4.14 4.50 England dol. per £ 4.65 4.66 .058 .063 .061 .054 .039 .041 .048 .055 .058 France -„ dol. per franc— . 039 .039 .039 .046 .354 .382 .373 .274 Germany :.— — „— -,,dol. per reicbsmark,. .333 .354 .238 .238 .238 .239 .244 .288 .327 t Revised. For bearlier data see pp. 18, 20 of the July 1933 issue (insurance written and admitted assets); and p; 18 of the June 1933 issue (premium collections) S e e p . 5 6 f o r footnote, ,: -: -A .-..-:...: * Revised. 32 SUEVEY OF CURRENT BUSINESS 1933 Monthly statistics through December 1931, 1933 together with explanatory footnotes and references to the sources of the data, may be found Decem- Decemin the 1932 Annual Supplement to the Survey January Februber ,: ber ary February 1934 1933 March April May June July August Septem- October November FINANCE—Continued MONETARY STATISTICS— Continued Foreign Exchange Rates— Continued. 0.248 0.254 0.258 India — dol. per rupee- 0.384 0.258 0.269 0.296 0.311 0.349 0.350 0. 339 0 350 0 383 .051 Italy dol per lira 082 .051 .051 .061 . 074 072 078 .051 .064 .054 078 084 .307 .213 Japan - dol. per yen— .207 .207 .208 .221 .240 .258 .288 .269 .273 278 304 .629 .402 .404 Netherlands _ .. dol. per florin.. .402 .403 .562 .599 .420 .470 .490 .554 .646 .600 .128 .082 .082 .082 .084 Spain. —dol. per peseta.. .104 .124 .124 .089 .100 .117 .115 .131 .182 .213 .264 .202 .241 .241 .266 Sweden dol. per krona. .183 .183 .240 .232 .179 .188 ,746 .473 .474 .532 .702 .708 .763 Uruguay . . - _ . . _ dol. per peso.. ,473 .473 .478 .560 .651 .648 Gold and money: Gold: Monetary stocks, U.S ..mills, of dol.. 4, 323 4,324 4.323 4,429 4,547 4,491 4,260 4,317 4,319 4,301 4,313 4,323 4,327 Movement, foreign: * -100,092 33, 701 22, 114 Net release from earmark., .thous. of dol._ 11, 780 * 71, 023 * -91, 494 3, 545 84,471 79,467 49, 305 26, 867 600 14 21,251 28,123 16, 741 22,925 Exports,. thous. of dol.. 10, 815 4,380 85, 375 81,473 58,281 34, 046 2,957 13 1,687 100, 872 128, 479 30, 397 1,894 14, 948 1,696 Imports - .thous. of dol 1,496 1,544 6,769 1,785 1,136 1,085 Net gold imports, including gold released 2,652 171, 872 36,957 -169,409 -113,287 23,729 592 -921 -7.442 -5, 483 from earmark#* thous. of dol— 975 -463 301 Production, Rand . fine ounces.., 894, 000 960, 618 967, 457 883, 775 946, 863 895, 097 944, 604 918, 633 923, 671 934, 714 901, 799 908, 888 898, 468 Receipts at mint, domestic.. -fine ounces. . 184, 622 141, 598 115, 188 89, 016 187, 694 120, 461 114,017 64,445 99, 581 86, 265 105, 985 155, 532 162, 280 5,811 5,892 5,656 5.681 6,998 5,742 5,675 5,616 5,632 Money in circulation, total mills, of dol— 5,699 5,631 6,137 5,876 Silver: 2,572 3,321 464 590 2,281 1,551 209 269 193 235 7,015 1,260 343 Exports -_ thous. of dol— 4,977 5,386 11, 602 1,763 4,106 4,080 1,203 855 1,693 1,520 5,275 15, 472 3,490 Imports .thous. of dol— .382 .436 .254 279 .430 .261 Price at New York dol per fine oz .341 357 .376 .361 384 250 .307 Production, estimated, world (85 percent of 9,772 9,003 9,676 12,019 0 13, 317 9,658 11, 6156 8,726 10, 226 10, 917 total) - -thous. of fine oz— 10, 692 8,280 11, 674 1,131 1,474 1,638 1,014 644 1,007 1,019 1,309 1,015 1,227 1,747 1, 618 Canada thous. of fine oz._ 1,005 6,661 « 6,033 4,221 5,543 5,738 4,324 7,159 6,436 4,628 5,197 5,067 5,920 Mexico — thous. of fine oz_, 6,000 1,863 1,552 1,781 1,627 1,960 1,603 2,574 1,933 1,489 United States .. thous. of fine oz.. 1, 562 1,907 1,465 1,918 Stocks, end of month: 5,432 8,215 5,638 5,444 3,665 5,669 United States thous. of fine oz » 5,274 5 931 7,060 8,261 8,568 6,583 3,537 1,744 1,909 1,559 1,862 1,640 1,859 1,831 2,028 2,340 1,651 1,707 1,690 Canada -- -thous. of fine oz.. 1,758 NET CORPORATION PROFITS (Quarterly) 123 8 423 3 Profits total mills of dol 209 5 309 1 Industrial and mercantile, total d mills, of dol— *d18J 6 77. 2 128 9 37 9 d 30 9 Autos parts and accessories mills of dol 46 50 1 42 5 Foods mills, of dol— 18 9 17.8 25 8 26 2 d Metals and mining mills, of dol— 1.6 <* 6 1 2.1 7.6 d '<*3 9 Machinery mills, of dol-. 0. 1 1.8 ^ 15 0 Oil mills, of dol<*10.2 17.8 Steel and railroad equipment d mills, of dol <*30.7 <*4 7 "301 15 9 Miscellaneous mills, of dol _ lf.1 37.7 25.4 14 4 Public utilities — mills, of doL. 67U 65.6 60.0 62.0 Railroads, class I. . . mills, of dol 33.9 119 2 186.2 130 8 Telephones ..mills, of dol— 41.4 48.2 47.1 54.6 PUBLIC FINANCE (FEDERAL) Debt, gross, end of month .mills, of dol— 23, 814 20, 806 20,802 20,935 21,362 21,441 21,853 22, 539 22, 610 23,099 23, 051 23, 050 23, 534 Expenditures, chargeable to ordinary receipts -.thous. of dol— 262, 088 762, 406 247, 785 213, 091 282, 368 352, 464 270, 053 411, 352 203, 150 181, 926 258, 327 404, 458 216, 860 Receipts, ordinary, total thous. of dol— 341, 776 351, 695 134,044 121, 312 283,286 130,552 167, 152 306, 162 179, Oil 197,533 333, 252 272, 747 219, 493 Customs —thous. of dol— 24, 994 19,929 18,352 16,442 17,444 26, 565 17,400 20, 515 22,943 25, 081 32, 690 33, 793 31,938 Internal revenue, total thous. of doL_ 302, 432 210,995 86, 805 90, 715 242,464 89, 062 114, 754 251, 601 131, 116 163, 158 318, 986 164, 148 135, 707 Income tax _ —thous. of dol— 128, 286 141, 033 17,889 27, 713 176,259 19,500 15,688 146, 575 11, 983 14,091 134, 343 10, 348 17, 783 Reconstruction Finance Corporation loans outstanding, end of month: Grand total thous. of dol 1 224 8001 310 342 1 473 870 1 597 §90 1 674 876 1 823 882 1 852 903 1 855 242 1 864 817 1 852 456 1 829 663 1 962 402 Total section 5 as amended. ..thous. of dol— M27,771 1,170,646 1,294,424 1,361,577 1,384,232 1,473,600 1,478,490 1,461,563 1,458,184 1,432,249 1,398,176 1,451,067 Bank and trust companies including if receivers -.thous. of dol_689, 391 594, 631 611,789 669,217 691,385 686,867 736,926 673,821 672, 003 689, 180 682, 318 666, 463 Building and loan associations thous. of dol 86, 475 84, 832 83 586 81, 891 80 139 68, 534 87, 385 84 248 85, 372 78, 055 75, 604 72, 192 Insurance companies thous. of dol— 65. 050 62,902 63,060 72,259 72,484 73,779 70,098 68, 022 68, 241 67, 793 67, 596 62, 449 Mortgage loan companies ..thous. of dol. 79,464 109, 812 113,353 110, 300 110, 257 155, 508 155, 094 158, 357 158, 199 157, 101 160, 612 77 080 Railroads, including receivers thous. of dol. 272,472 280 042 296,230 310, 921 323 196 340 856 354 061 331 290 331 102 331, 755 330 157 333 423 All other under section 5 thous. of dol 87 182 106 550 128 192 143 107 155 010 133 245 116 575 104 367 51 074 134 057 68 718 36 890 Total emergency relief and construction act as amended thous. of dol— 97,029 139, 697 179,447 223,|64 270,313 324, 800 330,950 342, 037 347,315 353, 813 362, 135 397,938 Self-liquidating projects — thous. of dol— 60, 020 18,337 18,664 20,684 25,126 27,231 30,134 37, 972 41,801 48, 540 56, 038 15, 737 Financing of exports of agricultural surpluses., thous. of dol— 3,402 3,687 1,498 3,912 34, 405 Financing of agricultural commodities, and livestock.. _. thous. of dol— 2,445 1,213 1,228 1,205 2,742 1,325 2, 724 2,920 2,571 3, 195 3,170 4,498 Amounts made available for relief and work relief thous. of doJ— 79,968 120, 148 159, 557 201, 3,76 242, 743 294,846 298,075 299, 373 299, 193 299, 015 299, 015 299, 015 Total bank conservation act as amended thous. of dol— 12, 750 20, 333 25, 483 43, 464 51, 643 59, 320 63,096 66, 052 110 097 Agricultural adjustment act of 1933 thous. of dol— 3,300 3 300 3 300 CAPITAL ISSUES Total, all issues (Commercial and Financial Chronicle).. ...thous. of dol— 74, 566 "159, 896 109,963 56, 513 19, (fa 45,388 59,643 222, 644 161, 990 52,901 94,176 59, 363 90, 279 Domestic, total thous. of dol— 74, 566 «159,896 109,963 56,513 19,094 43,788 59, 643 162, 644 161, 857 52,901 94, 176 59, 363 90, 279 Foreign, total thous. of dol.. 0 0 ,0 0 0 1,600 0 60,000 0 133 0 0 0 Corporate, total thous. of dol— 16, 150 28,844 64,517 37,555 5,418 35,541 15,634 60, 378 95, 955 14, 050 26, 765 3,109 6,511 Industrial . thous. of dol— 15, 351 8,766 7,592 0 3,270 2,660 9,043 15,415 86,730 14,050 22, 903 3,109 6,511 0 Investment trusts thous. of dol— 0 0 0 0 0 0 0 0 0 1,089 0 0 Land, buildings, etc. thous. of dol— d 900 0 0 600 0 0 0 0 0 0 0 0 Long-term issues thous. of dol.. 900 0 0 200 0 0 0 0 0 0 0 0 Q Apartments and hotels. ..thous. of dol— o 0 0 0 0 0 0 0 0 0 0 0 0 : Office and commercial thous. of dol.^ 0 0 0 0 0 0 0 0 0 0 0 0 0 Public utilities thous. of dol— 550 414 3,124 44,925 2,148 28,104 6,591 3,000 0 7,000 0 0 0 Railroads thous. of dol— 0 15,000 0 12,000 36,241 4,778 0 41,963 1,061 3,862 0 0 0 Miscellaneous thous. of dol— 250 0 1,355 0 0 0 0 0 75 0 0 0 0 Farm loan bank issues. thous. of dol— 14, 250 13,000 9,500 1,400 0 0 0 0 35,000 0 30, 000 0 0 Municipal, States, etc. thous. of dol— 44, 166 "118,052 35,946 17, 558 13,677 9,847 44,009 102,266 31, 035 38, 852 37, 411 56, 254 83, 768 " New series superseding old series which covered the physical movement only. For earlier data see p. 20 of December 1932 issues (net dgold imports), and p. 20 of the August 1933 issue (Reconstruction Finance Corporatioiif, « Revised. # Or exports (—). =*dfencit * Allowance has been made for gold earmarked at Bank of England for the account of the Federal Reserve Bank of New York. * Differs from Federal Reserve Board figure, since $8,900,000 declared for export on Feb. 28 was not actually taken from Federal Reserve Bank of New York until Mar. 1. 1933. February 1934 33 SURVEY OF CURRENT BUSINESS 1933 Monthly statistics through December 1931, 1933 together with explanatory footnotes and references to the sources of the data, may he found Decem- DecemJanuary Februin the 1982 Annual Supplement to the Survey ber ber ary 1933 March April May June July 117, 083 116, 950 52, 760 35,000 29, 190 October NovemAugust September ber FINANCE—Continued CAPITAL ISSUES-Continued Total, all issues— Continued Purpose of issue: New capital, total . thous. of dol 57, 000 «124, 686 Domestic, total thous. of dol _ 57, 000 «124, 686 Corporate .thous. of dol— 15, 601 10, 399 Farm loan bank issues thous. of dol— 0 13, 000 Municipal, State, etc thous. of dol... 41, 399 •101, 288 Foreign thous. of dol__ 0 0 Refunding, total thous. of dol__ 17, 506 35, 207 Corporate thous. of dol— 550 18, 446 Type of security, all issues: . Bonds and notes, total.,, thous. of dol__ 58,965 "155, 185 Corporate _ thous. of dol— 16, 150 «28, 844 15, 601 Stocks.- — _ ._ . thous. of dol 4,711 State and municipals (Bond Buyer): Permanent (long term) ...thous. of dol— __ 165, 167 __ Temporary (short term) thous. of doL_ 145, 590 SECURITY MABKETS B<m{|s Prices: All listed bonds, avg. price (N.Y.S.E.) dollars- 83.34 77.27 Domestic issues __ _*._ dollars,. 85.11 81. 65 Foreign issues „_ _dollars__ 75. 90 60. 22 Domestic (Dow-Jones) (40) percent of par 4% bond- 65.46 44.05 Industrials (10) . .percent of par 4% bond- 56.53 44.81 Public utilities (10) 71.85 percent of par 4% bond— 69.79 Rails, high grade (10) percent of par 4% bond- 83.07 77.88 Rails, second grade (10) percent of par 4% bond— 57.28 24.20 83. 6 Domestic! (Standard Statistics) (60). dollars ._ 82.2 U.S. Government (Standard Statistics)* dollars- 100.95 103. 19 Foreign (N.Y. Trust) (40) ...percent of par. _ 81.47 57.51 Sales on New York Stock Exchange: Total thous. of dolls par value 267, 259 241, 850 Liberty-Treas.— thous. of dolls, par value- - 41, 865 37, 424 Value, issues listed on N.Y.S.E.: Par, all issues _ mills, of dol— 41, 829 41, 305 Domestic issues mills, of dol 33, 815 32, 866 8,014 Foreign issues mills, of dol— 8,438 Market value, all issues mills, of dol— 34, 861 31,918 Domestic issues — mills, of dol— 28, 778 26,836 Foreign issues. mills, of dol.,. 6, 083 5, 082 Yields: 5.63 Domestic t (Standard Statistics) (60) .percent5.75 Industrials (15) _ ..percent— 6.68 7.38 Municipals (15)f .percent4.89 4.37 Public utilities (15) —percent5.40 5-06 5.54 Railroads (15). percent6.19 Domestic, municipals (Bond Buyer) (20) 5. 48 4.61 percent— Domestic, U.S. Government: 3.64 Treasury bonds (3 long term) percent3.48 Treasury notes and certificates (3-6 months)— _ .percent.29 .04 Cash Dividend and Interest Payments and Hates Total (Journal of Commerce) thous. of dol— 566, 059 «553, 539 Dividend payments., .thous. of dol— 115, 600 «127, 300 Industrial and miscellaneous thous. of dol— 99, 100 «104,800 Railroads, steam ..thous. of doL. 5,700 «8, 400 Railways, street thous. of dol— 700 «1, 500 Interest payments. —thous. of dol— 450, 459 426, 239 Dividend payments (N. Y. Times) thous. of dol— 191, 995 205, 769 Industrial and miscellaneous— thous. of doL. 165, 023 190, 508 Railroad.. _ —-thous. of dol— 26, 992 15, 261 Dividend payments and rates (Moody '§); Dividend payments, annual payments at current rate (COO companies) ..mills, of dol— 1, 023. 4 1, 119. 7 Number of shares, adjusted— „_ millions- 926. 13 925. 25 Dividend rate per share, weighted average (600)— dollars1.11 1.21 Banks (21) —dollars3.61 4.79 Industrials (492) dollars.83 .89 Insurance (21)— , _ dollars-1.89 1.67 Public utilities (30)...— —dollars .. 2.07 2.31 Railroads (36)._. dollars.91 .81 19, 636 19, 636 1,314 1,400 16,922 64, 610 64, 610 22, 157 9.500 32,953 0 36,877 36,241 0 45, 353 42, 360 0 13, 095 0 2,829 2,248 48, 296 44, 907 43,061 45,600 45,600 14,050 0 31, 550 0 7,302 0 24,928 24,928 17,335 0 7,593 0 20,460 18, 207 43, 802 43,802 3,584 110, 148 110, 148 12, 082 40, 218 98, 066 0 0 15, 841 12, 050 0 0 112,496 133 63,814 63, 814 8,911 18,000 36, 903 0 30, 362 17, 854 68, 702 58, 702 3,109 88, 257 88, 257 6,511 55, 592 81, 746 0 0 662 0 0 0 2,022 0 106, 713 61, 267 3,250 56, 513 37, 555 13, 677 5,418 5,418 44, 453 34, 607 935 56, 559 12, 550 3,084 213, 592 51, 326 9,052 79, 096 13,061 82, 894 38,852 0 14,050 85,265 17,854 8,911 56, 254 3,109 3,109 83, 843 0 85, 930 105, 173 64, 951 77, 389 45,573 92, 719 58, 579 172, 948 53, 915 105, 047 107, 905 210, 783 37, 831 13, 916 111, 143 16,858 68, 613 43, 006 95, 599 53, 830 129, 750 21, 376 78.83 83.32 61.34 74, 89 79.09 58.45 74.51 78.58 58. 59 76.57 80. 07 62.86 80.79 84.73 65.31 82.97 86.84 67.77 84.43 88.03 70.26 84.63 87.91 71.34 83.00 85.82 71.54 82.33 84.70 72.85 81.36 82.98 74.67 46.94 47.66 45.22 44.35 42. 01 39.88 41.35 42.32 50.64 51.57 67.67 58.92 73.00 62.85 72.67 62.02 69.58 59.79 66.99 56.50 62.14 53.51 75 6,436 '73.66 71.53 64.99 64.62 69.09 74.60 79.63 79.47 76.57 75. 83 70.37 82.49 81. 92 77. 23 73. 62 80.35 84.35 88.95 89.95 85.74 85.47 79.22 25.95 84.1 25.17 82.5 23.92 76.7 22.71 75.4 30.60 82.0 59.23 86.8 66.32 89.6 65.72 89.9 62.34 87.9 58. 38 86.5 52.77 82.6 103. 75 59.83 103. 36 54. 19 101. 09 53.55 102. 00 55.52 102. 91 56.47 103. 54 57.11 103. 62 59.50 103. 40 58.95 103. 51 57.97 103. 51 58. 78 101. 39 61. 53 260, 021 38, 362 230, 082 45, 387 193, 181 55, 176 269, 585 61,000 350, 626 38,367 344, 050 23,583 323, 139 20,498 216, 818 15, 597 234, 296 33, 886 231, 520 34, 678 296, 989 93,536 41, 173 32, 770 8,403 32, 457 27, 302 5,154 41, 107 32, 738 8,369 30,785 25, 893 4,892 41, 006 32, 666 8,310 30, 554 25, 668 4, 887 40, 948 32, 624 8,324 31, 354 26, 121 5,233 40, 844 32, 553 8,291 32, 998 27, 583 5,415 40, 878 32, 593 8,285 33, 917 28, 303 5,615 40, 812 32, 538 8,274 34, 458 28, 645 5,813 41, 613 33, 376 8,237 35, 218 29,342 5,877 41, 581 33, 370 8,212 34, 514 28, 639 5,875 40, 875 32, 680 8,195 33, 051 27, 681 5,970 42, 010 33, 821 8,189 34, 180 28, 065 6,115 5.59 7.29 4.23 4.91 5.93 5.73 7.60 4.28 5.11 5.93 6.25 8.14 4.88 5.54 6.45 6.38 8.27 5.05 5.63 6.56 5.78 6.94 5.27 5.26 5.63 5.37 6.39 4.71 5.03 5.34 5.15 6.16 4.60 4.86 4,97 5.12 6.14 4.54 4.84 4.95 5.28 6.30 4.59 5.01 5.23 5.39 6.49 4.60 6.12 5.35 5.72 6.73 4.81 5.41 5.86 4.48 4.92 5.24 5.69 5.35 5.09 5.00 4.98 4.94 5.01 5.52 3.39 3.47 3.58 3.55 3.47 3.40 3.38 3,40 3.40 3.42 3.60 ,07 .01 1.34 ,45 .29 .07 .19 ,01 .04 .09 .22 863,492 270, 600 387, 200 145,400 430, 351 140, 000 561,279 136,850 428, 449 153, 884 571,529 134, 350 763,219 205, 900 349, 620 101,800 391, 589 90, 700 645, 205 180, 150 412, 855 109, 950 230, 500 10,500 4,100 592, 892 117,000 8,000 4,900 241, 800 102, 200 11, 300 3,300 290,351 96,409 11,500 2,600 424, 429 144,400 1,425 2, 674 274, 565 115,800 2,950 3,000 437, 179 158, 200 16,500 3,000 557, 319 88, 100 4,900 2,700 247, 820 70, 100 6,800 500 300, 889 129, 750 18, 200 4,300 465, 055 98, 500 2,000 2,300 302, 905 164, 840 140, 343 24,497 222, 244 206, 328 15,916 162,468 158,000 4,468 130,607 124,823 5,784 218,591 199, 362 19,229 211, 890 191, 066 20,824 116, 211 105, 160 11,051 211,432 197, 493 13, 939 164, 629 158,577 6,052 123, 492 117, 263 6,229 259, 518 243, 742 .15,776 1, 112. 9 924. 21 1.070.3 924. 39 1, 024. 9 ' 1, 006. 2 923. 32 922. 56 976.0 923. 36 965.4 923. 29 972.4 923. 63 970.6 923. 84 978.8 923. 78 978.2 923. 80 1, 017. 8 926. 13 1.20 4.78 1.16 4.78 1.11 4.36 1.09 4.32 1.06 4.32 1.05 3.99 1.05 3.99 1.05 3.99 .1.06 3.99 1.06 3.99 1.10 3.55 1.89 2.31 1.78 2.31 1.76 2.25 1.66 2.19 .86 .86 .86 .86 .90 1.66 2.07 .86 .86 1.66 2.07 66.1 23.9 26.9 52.99 84.55 21.43 44.9 42,5 73.1 26.7 57.6 21.8 27.4 53. 17 85.07 21. 27 43.2 41.6 67.0 25.6 65.0 21.6 27.4 60.09 97.20 22.97 47.5 48.8 63.5 26.3 81.6 27.7 37.6 74.59 118. 40 30.79 62.9 65.3 79.2 37.5 94.1 34.1 44.2 85.26 134. 53 36. 01 74.9 77 3 96.9 44.0 100.4 34.7 51.7 88.46 135.84 41.09 80.4 83.5 97.5 52.6 98.4 30.8 49.6 88.24 135. 86 40.63 75.1 78.8 87.1 49.4 100.3 27.9 47.2 86.46 135.45 37.49 74.8 80.7 80.1 47.2 92.8 24.9 38.9 79.54 127. 86 31.23 69.5 75.5 75.0 40.3 96.4 23.7 38.6 82.87 134. 22 31.52 69. 3 76.7 70.0 38.4 63.5 42.5 49.2 38.1 47.2 37.8 53.1 50.4 60.7 55.7 60.9 60.0 58.3 58.2 50.7 56.6 .88 .86 Stocks Prices: Dow- Jones: Industrials (30) dol. per share 99.3 62.7 59.1 23.2 Public utilities (20) . — „ dol . per share 27.1 28.0 Railroads (20) _ dol. per share 26. 2 40.5 28.1 New York Times (50) dol. per share- 85.18 58.65 55.05 Industrials (25) dol. per share 137. 27 94. 81 89.54 Railroads (25) — _ dol. per share 33.12 20.58 22.50 Standard Statistics (421)., . . 1926=100 49.1 70 4 47.4 Industrials (351) „ 1926=10046.2 78.8 44.8 Public utilities (37) 1926=10067.3 81.8 79.6 Railroads (33). 1926=100 25.7 40.3 27.6 Standard Statistics: Banks, N.Y. (20) 1926—100 42.4 65.8 67 9 Fire insurance (20) — —.1926=100— 41.4 44.0 49.9 « Revised, t Revised series. For earlier data see p. 19 of the April 16, 265 16, 265 3,170 .82 1933 issue. .78 .77 .72 1.66 2.19 .72 1.66 2.19 .73 1.66 2.19 .73 1.66 2.15 .75 1.66 2.11 .90 .76 .91 47.1 53.6 i ' New series. See p. 20 of the June 1933 issue for earlier data. .82 .91 42.5 51.8 34 SURVEY OF CURRENT BUSINESS 1933 Monthly statistics through December 1931, 1933 together with explanatory footnotes and references to the sources of the data, may be found Decem- Decemin the 1932 Annual Supplement to the Survey January Februber ary ber February 1934 1933 March April May June July August SeptemOctober November ber FINANCE—Continued SECURITY MARKETS— Continued Stocks—Continued Sales, N.Y.8 E . thous of shares 34, 878 Values, and shares listed, N.Y.8.E.: Market value all listed shares.- .mills, of dol__ 33, 095 Number of shares listed . .millions 1, 293 Yields: Common, Standard Statistics (90).. percent, _ 3.59 3.21 Industrials (50)..— _ percent-Public utilities (20) _ _ _ _ percent _ 6,24 Railroads (20) percent-2.48 Preferred, Standard Statistics: Industrials, high grade (20) percent. . 6.50 23 208 18, 720 19, 320 20, 089 52, 901 104,229 125, 627 120, 300 42, 466 43, 319 39, 379 33, 646 22, 768 1,312 23, 073 1,303 19, 701 1,296 19, 915 1,293 26, 815 1,294 32, 473 1,294 36, 349 1,285 32, 762 1,281 36, 670 1, 290 32, 730 1,293 30, 118 1,293 32, 542 1,295- 5.68 6.00 5.61 3.28 5.42 5.78 5.28 3.05 6.10 6.36 6.10 4.13 6.30 6.25 6.82 5.22 5.58 5.24 6.83 5.12 3.99 3.67 5.18 3.59 3.27 3.02 4.12 3.06 3.02 2.76 4.09 2.58 3.25 2.93 4.78 2.73 3.37 2.96 5.48 2.93 3.59 3.25 5.61 2.51 3. 653.26 7.34 7.17 7,32 7.52 7.32 6.78 6.38 6.22 6.20 6.26 6,38 6. 51 e.ia 2. 62 Stockholders (Common Stock) American Tel. & Tel. Co., total number Foreign ._ _ number Pennsylvania Railroad Co , total number Foreign number U.S Steel Corporation, total number Foreign « number Shares held by brokers percent of total 680, 454 7, 418 238 876 3,208 187 978 3, 450 18 80 700. 212 7,554 248, 688 3,310 193, 140 3,192 16.07 701, 037 7,507 250 506 3,323 190 853 3, 155 15 21 682, 299 7,629 240, 237 3,234 196, 105 3,171 18 66 690, 880 7,564 244, 295 3,279 187 477 3,151 17 91 FOREIGN TRADE INDEXES Value: Exports, unadjusted 1923-25—100 Exports, adjusted for seasonal, .1923-25 =100— Imports, unadjusted 1923-25 = 100— Imports, adjusted for seasonal— 1923-25 =100.. Quantity, exports: Total agricultural products — — 1910-14 =100.. Total, excluding cotton 1910-14=100,. 48 41 42 51 35 33 30 30 32 31 30 29 27 29 26 26 28 28 29 26 28 29 27 25 30 32 33 32 32 36 38 40 38 43 44 48 35 38 48 50 42 40 45 48 51 42 47 46 49' 42 40 40^ 109 93 116 67 97 73 71 58 67 59 59 51 71 47 72 45 80 51 66 50 97 57 120 77 111 79' 192, 619 131, 614 120, 630 131, 451 160, 090 193, 948 184, 2^: 4,166 4,535 32 120 35, 050 16, 825 15, 599 81 857 108 811 17, 041 12, 340 13 685 17 821 8,537 7,221 39, 533 28, 489 21, 461 22, 502 20,978 22, 150 9,473 11, 181 3 499 3,324 12, 237 10, 643 4 141 3 588 3,194 2,650 458 656 4,670 37, 573 17, 056 94, 864 14, 082 16 929 5,934 33, 564 23, 251 22, 709 11,648 3 685 12, 249 4 559 2,862 491 129, 292 157, 461 191 721 41, 968 63 571 82 545 28.2 54.3 45.3 16, 886 18, 700 23, 510 3,062 5,042 3,398 13, 824 15, 302 18, 468 5.6 11.0 6.8 5.4 6.2 5.9 1.2 1.5 1.3 20,465 21, 261 24, 573 49, 973 53, 928 61, 094 81 86 83 3.4 6.5 3.9 10.9 13.5 11.7 154,976 146, 652 150, 856 VALUE § Exports, incl. re-exports „„. thous. of doL_ By grand divisions and countries: Africa.,. ._ , thous. of dol._ Asia and Oceania thous. of dol Japan _ thous. of doLEurope thous of dol France.. thous. of doL. Germany thous of dol Italy thous. of dol— United Kingdom _ _ thous. of dolNorth America, northern thous. of dol— Canada _. thous. of dol— North America, southern thous. of dol. _ Mexico thous. of dol South America_ _ _ _ _ _ -thous. of delArgentina thous. of dol Brazil. thous. of dol__ Chile __, thous. of doL. By economic classes: Exports, domestic thous. of dol— Crude materials thous. of dol _ Raw cotton... mills, of dol— Foodstuffs, total thous. of dol— Foodstuffs, crude thous. of dol— Foodstuffs, manufactured-.thous. of dol._ Fruits and preparations_,.mills. of dol— Meats and fats , mills, of dol— Wheat and flour.., mills, of dol— Manufactures, semithous. of dol— Manufactures, finished thous. of dol— Autos and parts mills of dol Gasoline _. ..mills, of dol— Machinery _ .mills, of dolImports, total.. _ ..-thous. of dol— By grand divisions and countries: Africa thous of dol Asia and Oceania .-.thous. of dol— Japan thous. of dol— Europe thous of dol France thous. of dol Germany, _ . thous. of doL Italy.. . _ thous. of dol United Kingdom.. thous. of dol— North America, northern thous. of dol— Canada— thous. of doL. North America, southern ___. thous. of dol— Mexico —„ thous. of doL. South America thous. of dol— Argentina thous. of dol Brazil _ thous. of dol Chile. „ thous. of dolBy economic classes: Crude materials . ...thous. of dol— Foodstuffs, crude thous. of dol— Foodstuffs, manufactured thous. of dol— Manufactures, semithous. of dol— Manufactures, finished thous. of dol— 5,900 2,864 40, 877 » 30, 224 15, 653 18, 258 102, 185 a 64 453 12, 129 10, 241 13 577 10 452 6, 728 5,566 43, 878 21, 491 13, 645 18, 890 18, 511 13, 437 11, 795 « 10, 334 2 829 3 458 12, 966 10,095 3 324 2 711 3,397 3,626 348 777 101, 530 108, 032 105, 219 114, 243 119,809 144, 197 * 2,462 2,335 2,632 3,262 3,431 2,727 3,055 25, 272 20, 171 22, 684 17, 823 20, 630 20 625 30, 127 7,299 7,720 9,614 6,406 8,267 15, 046 11, 185 50, 321 52 223 56, 883 58 820 68, 081 62, 218 51, 099 7,653 8,924 7,955 8,164 8,077 8,178 8,516 8,563 7,035 10 235 11, 349 11 739 8 977 11,415 4,741 4,058 3,986 4,329 4,443 3,101 4,558 21, 309 18, 730 17, 645 18, 235 18, 787 22, 233 24, 787 12, 664 11, 703 14, 200 13,418 16, 730 18, 421 21, 300 12, 432 11, 501 13, 841 13, 159 16,433 18, 069 20, 927 8,091 9,296 10, 621 10, 384 10, 364 10, 636 11, 723 3,274 2,682 2,173 2,821 3,524 2,967 2 852 8,131 9,704 8,125 7,573 7,784 7,175 8,580 3,414 2,712 2,785 1,873 2,350 2 756 2 535 2,682 1,912 2,605 1,813 1,647 2,327 2,320 291 294 375 373 518 456 297 99, 438 31,848 20.6 12, 819 3,244 9,575 3.8 4.5 1.2 13, 242 41, 528 6.3 3.8 8.5 83, 803 106, 310 29, 359 18.1 13, 397 3,524 9,873 3.9 4.4 1.3 16, 507 47, 047 6.9 3.9 9.4 94, 864 103, 106 28, 621 16.9 11, 310 2,510 8,800 2.9 4.0 1.1 15,292 47, 884 74 6.0 8,8 88,412 111,883 117, 533 141, 661 51, 509 34, 977 40, 257 29.3 26.1 36.8 13,044 13, 362 15, 383 2,704 3,024 3,078 10,020 10, 659 12, 305 3.8 2.9 4.3 4.9 5.5 5.7 1.2 1.0 1.1 17, 644 18, 181 21, 359 46, 218 45, 732 53, 410 74 70 75 3.9 6.0 3,7 9.1 9.3 10.1 106, 903 122, 262 142, 992 3,744 24, 446 10, 157 62 710 8,476 9,038 3,596 24, 686 20, 768 20, 301 10, 894 3 315 8,890 2 897 2,089 338 2 587 39, 479 10,375 42 273 6,891 6,877 2 915 8,253 21, 799 20, 915 9,675 3,295 17, 406 2 315 8 256 1,018 1 946 30,628 12, 322 28 967 3,824 4,752 3,618 4,852 11,493 11, 006 9,334 2,285 14,719 1 636 6 114 145 2 616 31, 090 7,935 28 226 3,128 5,212 2 977 4,371 11, 419 10, 744 9,079 2,575 13, 563 1 018 5 816 271 1,990 24, 247 5,686 26, 794 2,991 4,873 2,552 5,347 8,567 8,529 8,197 2,303 14,008 1 177 7 244 230 1 631 28, 760 7,527 28, 192 3,000 5,612 2 693 5,796 10, 123 10, 055 11, 490 3,046 14, 667 1 257 7 056 194 1 198 27, 069 8,055 24 421 2 207 4,727 3 318 5,095 11, 140 11, 078 11, 678 2,517 12, 906 827 6 105 409 1 208 31, 751 8,462 30 805 2,733 5,113 3 282 8,010 15, 405 14, 800 12, 697 3,586 15, 036 1 320 6 958 438 2 243 33, 909 11,467 41 174 3 111 6,800 3 720 11, 171 15, 716 15, 263 10, 931 2,505 18, 289 1 772 5 158 3,788 2 607 47, 796 14,423 43 782 3,825 7,466 *3 518 12, 577 19, 809 19, 383 11, 541 2,461 17, 457 4 037 6 427 763 3 179 47, 024 14,099 51 147 5 410 8,702 3 473 14,073 18, 024 17, 666 11, 128 2,503 24, 475 6 234 9 063 806 3 914 4^397 14, 217 49 989 5 664 8 505 3 108 12, 093 20, 493 19, 979 10, 989 1,873 17, 866 4 539 6 559 1,092 2 303 45, 603 14, 503 51 908 5 116 7 667 3 838 15, 253 20, 071 19, 618 9,848 1,766 21, 123 5 942 8 085 1,545 181,291 71, 298 48.8 24, 054 6,654 17, 400 9.7 6.6 1.6 24, 186 61, 753 73 7.2 16.0 128, 505 hi! 2 764 39, 043 11, 657 43 580 5 626 6,604 3 180 9,254 17, 890 17, 123 9,760 2,305 15, 468 3 415 5 885 953 36, 233 18, 462 23, 621 27, 238 27, 664 28, 737 17,643 10, 519 16, 747 23,440 27, 205 17, 929 12, 817 16, 154 21,889 21, 129 17, 864 12, 097 13,606 19, 107 23, 633 18, 411 15, 145 14, 751 22,924 21, 134 16, 557 16,270 13, 537 20, 914 24,920 19, 721 20, 303 18, 337 23,622 34, 301 17, 775 19,083 27, 813 23, 290 46,441 15, 897 22,878 31, 021 26, 755 50,660 19, 758 15,644 35, 233 33, 681 48,334 16, 846 14, 366 33, 510 33, 596 46, 874 17, 741 17,089 33, 183 35, 969 37, 266 14, 854 15, 744 27, 841 32, 800 189, 789 73 070 44.3 24, 345 7,465 16, 880 8.3 6.7 3.9 28, 502 63, 871 93 4.1 15.9 133, 218 128, 975 118, 600 52, 234 42, 294 39.0 29.7 15,961 16, 178 4,367 4,663 11, 594 11, 515 4.8 4.6 4.6 5.9 2.1 2.0 15,742 15,331 45, 038 44, 296 6.5 51 4.6 5.1 9.2 9.7 97, 087 95, 994 0 Revised. § Data revised for 1932. See p. 34 of the March 1933 issue for most revisions. Other revisions for the year 1932 were shown on p. 34 of the April, May, December, 1933, and January 1934 issues. 35 SURVEY OF CURRENT BUSINESS February 1934 1933 Monthly statistics through December 1931, 1933 together with explanatory footnotes and references to the sources of the data, may be found Decem- DecemFebruin the 1982 Annual Supplement to the Survey ber ary ber January 1933 March April May June July August SeptemOctober November ber TRANSPORTATION AND COMMUNICATIONS TRANSPORTATION Express Operations Operating revenue Operating income ~ -- - thous. of dol . thous. of dol _ 7,351 124 6,603 136 6,368 138 6,438 129 6,523 115 6,746 122 6,659 121 6 357 132 6,374 138 6,743 139 6,719 132 Electric Street Bailways Faros average (320 cities) Passengers carried f Operating revenues — 8,143 8. 143 8 235 8 143 8 143 cents 8 192 8 192 8 143 8 136 8 169 8 143 8 136 thousands 741,119 728, 015 690, 837 640, 635 689, 427 763 031 693, 493 658, 806 620, 424 637 278 650, 745 700 745 44,225 47,384 47, 401 50,459 46,471 45, 134 45, 055 47,956 -thous. of doL43, 656 45, 784 42, 913 8 143 688, 201 46, 962 Steain Railroads Freight earloadings (F.R.B.): 68 55 56 52 Index, unadjusted 1923-25=100 65 51 48 60 66 51 51 66 72 68 72 51 44 47 54 Coal 1923-25=100 74 70 63 71 66 59 58 44 52 33 44 55 54 Coke, _ 1923-25=10048 55 35 27 25 35 30 37 Forest products 1923-25=100 18 20 21 33 19 24 36 38 69 57 64 81 64 Grain and products 1923-25=10057 59 56 58 83 76 98 47 63 51 50 Livestock„_ — 1923-25=100 . 50 39 68 53 46 50 46 46 63 70 64 68 67 63 69 70 Merchandise, 1 c.l 1923-25=100 64 65 65 70 5 5 5 8 96 8 21 32 90 Ore 1923-25=100 68 62 5 54 68 44 60 63 Miscellaneous „„ 1923-25=100.., 45 54 64 69 45 45 67 62 60 56 61 Index, adjusted -- - 1923-25=100 58 54 50 60 58 56 65 53 64 67 74 52 62 63 Coal —1923-25=100 69 56 55 65 75 53 54 61 60 33 44 Coke .._.„ -1923-25=10045 53 40 45 35 29 63 31 33 28 34 32 35 Forest products —1923-25=10022 22 19 20 22 39 59 57 Grain and products. 1923-25=100., 99 53 95 59 58 69 99 82 57 61 47 54 45 54 56 53 50 Livestock .. . - 1923-25-100 . 50 51 49 53 55 67 66 68 69 Merchandise, l.c.l 1923-25=100— 69 62 67 69 66 63 70 66 33 14 53 59 20 23 18 Ore . ... 1923-25=100 20 20 34 49 17 69 61 57 57 Miscellaneous 1923-25=10057 57 52 64 59 57 51 47 2,565 1 841 2,265 2,503 3,205 «2, 483 2,128 Total cars ^ -«• -thousands 1 958 2 505 3,109 2,606 1 910 570 494 °625 362 625 318 492 366 561 500 Coal - -thousands __ 429 397 34 27 35 Coke • - _ --thousands 15 20 27 18 28 21 25 17 33 91 123 83 109 100 134 Forest products thousands 66 59 98 55 86 55 129 147 156 225 118 132 104 148 119 Grain and products -- -thousands 177 106 101 75 62 52 66 66 101 Livestock _. thousands.. 83 82 75 93 62 69 742 680 842 654 624 661 Merchandise, 1 c.l .. -thousands 618 832 691 °776 803 613 9 7 7 15 8 137 44 31 184 111 110 16 Ore thousands 909 872 805 1,138 Miscellaneous thousands 611 876 968 765 926 1,139 610 598 463 454 398 553 681 393 380 385 Freight-car surplus, total. thousands.. 650 619 647 692 264 237 281 242 314 223 362 216 228 Box thousands.. 376 381 368 141 Coal ' -thousands204 117 106 244 111 237 148 106 233 206 196 Equipment, nifrs. (See Trans. Equip.) Financial operations (class I roads) : Dividends paid. (See Finance.) Operating revenues thous. of dol— 246, 062 226, 555 211, 613 217, 599 224, 877 255, 256 278,311 293, 708 297,018 292, 147 294, 342 188, 164 179, 239 168, 790 174, 916 180, 212 207, 490 223, 236 240, 172 241, 242 235, 434 239, 603 Freight — thous. of dol~ 23, 911 30, 981 30, 964 32, 242 32, 014 21, 886 29, 835 Passenger ..thous. of dol— 30, 202 23, 585 22, 920 26, 654 Operating expenses thous. of dol.. 188, 205 181, 680 170, 864 175, 295 173, 296 181, 584 185, 325 194, 908 202, 453 199, 416 204, 694 40, 693 59, 483 60, 978 64, 307 10, 548 19,041 60,936 9,855 57, 265 Net operating income.— thous. of dol— V§8,"§66" 32,857 13, 266 Operating results (class I roads) : 23,712 21, 732 26, 468 19, 357 26, 460 26, 130 21, 102 19, 117 19, 831 26, 412 Freight carried 1 milemills, of tons.. 19, 986 .999 1.046 1.036 1 009 1 012 .996 1.006 990 978 995 977 Receipts per ton mile . cents 997 1,170 1,495 1,717 1,584 1, 045 1,633 1,380 1,088 1,716 Passengers carried 1 mile . _ .millions1,167 Waterway Traffic Canals: Cape Cod ^ thous. of short tons New York~State thous. of short tons. Panama total thous. of long tons U S vessels - thous. of long tons St. Lawrence thous. of short tons. Sault Ste. Marie thous. of short tons-Suez - - thous. of metric tonsWelland thous. of short tons Rivers: Allegheny thous. of short tons Mississippi (Government barges) thous. of short tons— Mononsrahela .thous, of short tons Ohio (Pittsburgh to Wheeling) thous. of short tons— Ocean traffic: Clearances, vessels in foreign trade thous. of net tons,. Foreign. .„ thous. of net tons— United States thous. of net tons Shipbuilding. (See Trans. Equip.) 235 0 224 0 1,622 6 172 131 587 51 215 2,177 147 200 0 158 0 1,464 1,435 560 0 623 0 192 0 1,738 724 0 212 183 1,528 664 352 245 542 1,691 783 835 779 994 288 473 1,669 823 839 254 623 233 517 1,797 2,126 1,082 1,041 7, 154 2,394 1,353 980 961 0 2,225 0 1,983 0 2,468 696 2,289 588 3,490 2,142 1, 109 3,582 1,960 1, 239 6,050 2,179 1,121 7,690 2,227 1,212 o 0 0 299 593 1,914 1, 002 1,129 8,452 2,166 1,373 72 54 33 67 60 68 17 61 60 66 53 34 63 52 67 24 62 2,366 502 26 93 124 82 667 30 843 441 253 136 257, 676 209, 912 24, 972 191, 824 37, 566 23, 936 281 664 1,950 964 775 3.022 2,477 1,070 201 110 83 81 92 115 168 283 291 351 234 219 222 106 1,387 94 776 81 799 72 683 79 701 82 776 113 1,022 110 1,397 133 1,561 115 1.339 119 812 97 429 «97 1,075 705 434 465 400 357 456 576 827 732 851 600 415 659 4,509 2,841 1,668 4,299 2,701 1,598 4,226 2,633 1,594 4,050 2,460 1,590 4,528 2,861 1,667 3,326 1,782 1,544 5,129 3,259 1,870 5,515 3,530 1,985 5,991 3,779 2,212 6,363 4,059 2,304 5,661 3,631 2,031 5, 349 3,392 1, 957 5,074 3,160 1,914 54, 247 18, 861 61, 504 21, 417 65, 181 22, 798 56, 830 21, 515 50, 413 19, 356 34, 775 13, 248 2.83 47 2.84 48 2.98 49 2.91 52 2.93 57 2.97 53 18, 325 22, 238 10, 414 1,726 23, 563 24, 453 42, 135 5,256 1,830 12, 323 43, 525 37, 626 5,120 2,628 7,540 46, 528 27. 137 3,784 2,961 5,913 25, 675 23, 285 3,856 3,004 4,790 13, 179 14, 597 3,232 2,251 4, 601 Travel Airplane travel: 24, 945 38, 543 24, 506 29, 557 22, 889 24,300 Passengers carried* . . . number. 12, 629 8,070 7,633 9,365 Passenger mil^s flown* thonf nf miles 6,913 7,854 Hotel business: 2.71 2.80 2.94 2.98 2.85 2.86 2.98 Average sale per occupied room dollars.. 51 51 45 54 48 51 47 Rooms occupied percent of total Foreign travel: Arrivals, U.S. citizens number-- 11, 979 13,259 14, 159 17, 005 18, 414 18, 539 20, 029 Departures U S citizens number. 10, 707 20, 461 19, 792 19, 097 16, 682 16, 012 17, 727 4,002 4,287 4,409 4,345 5,019 8,040 3,187 Emigrants - -number. 1,694 1,393 1,300 1,277 1,531 1,846 Immigrants number-. 2,324 9,744 6,480 17, 428 5,742 4,945 4,838 Passnorts issued — __ number.. 3,922 « Revised. f Revised series. For earlier data see p. 19 of the August 1933 issue. 1 Data for December 1932, April, July, September, and December 1933 are for 5 weeks; other months, 4 weeks. * New series. Covers scheduled airlines operating in United States. See p. 20 for earlier data. p Preliminary. 207 479 1,630 61 36 SURVEY OF CURRENT BUSINESS 1933 Monthly statistics through December 1981, 1933 together with explanatory footnotes and references to the sources of the data, may be found Decem- Decemin the 1932 Annual Supplement to the Survey January ber ber February 1934 1933 February March April May June July October NovemAugust September ber TRANSPORTATION AND COMMUNICATIONS—Continued TBANSPOKTATION— Continued Travel— Continued National parks: Visitors Automobiles _ Pullman Co.: Passengers carried Revenues, totaL. number number _ thousands «, _ thous. of dol 36, 120 7, 761 27, 343 5,662 36, 463 6,226 43, 379 6,496 40, 969 5,734 66, 313 11, 326 92, 518 21, 733 229, 496 59, 924 440, 728 117, 750 441, 795 117, 261 182,954 49, 109 .75, 140 19, 933 44, 464 10, 205 1,333 1 248 3,294 1,158 3,208 952 2,784 872 2,643 974 2,880 951 2,711 1,201 3,608 1,224 3,356 1,351 3,621 1,392 3,798 1,256 3,526 1,054 2,749 81,904 56,500 18, 507 56, 175 18, 540 15, 142 79, 726 56, Oil 17,016 58, 215 14,024 15, 015 76, 061 53, 962 15, 512 55, 559 13, 102 14, 902 78,925 54, 615 18, 155 57, 387 14, 254 14, 779 78, 053 54, 116 17, 442 55, 653 14, 897 14, 676 80,797 54, 706 19, 502 57,297 15, 996 14, 589 80, 704 54, 104 19, 832 56, 193 16, 201 14, 483 79,421 52, 341 20, 167 55,473 15, 954 14, 399 79, 356 52, 294 20, 295 55, 700 16,383 14, 368 78, 615 52, 668 19, 206 55, 271 15, 829 14,427 80, 395 54, 250 19, 219 56, 209 16, 571 14, 444 79, 242 53,830 18, 421 56, 767 15,017 14,448 8,352 6,334 7,010 888 7,317 5,529 7,117 <*194 6, 976 5,250 6,605 <*346 8,827 6,841 7, 055 1,375 7,992 6,133 6, 655 938 9,169 6,952 6,945 1,817 9,557 7,289 7,790 1,309 9,297 7,032 7,434 1,447 9,171 7,065 7,715 1,041 8,838 6,746 7,598 844 8,663 6,562 7,627 625 8,249 6, 147 7,557 284 4,662 4,890 2,570 5, 170 5,099 2,483 5, 505 5,574 2,544 7,923 7,452 2,063 13, 502 12, 771 1,316 10, 781 12,072 2,602 15,979 COMMUNICATIONS Telephone (class A companies) : Operating revenues __thous. of dol.Station revenues.. _• thous. of dol— _ Tolls, message thous. of dol— Operating expenses thous. of dol— Operating income— _ . thous. of dol_. Stations in service, end of mo thousands Telegraphs and cables: Operating revenues thous of dol Commercial telegraph tolls- __thous. of dol— Operating expenses ... .. thous. of dol— Operating income thous. of dol— CHEMICALS AND ALLIED PRODUCTS CHEMICALS Alcohol: Denatured: Consumption (disposed of) 5,328 4,519 thous. of wine gal 4,616 3,614 Production thous of wine gal 2,750 1,839 Stocks, end of month thous. of wine gal Ethyl: 5,278 6,014 Production . thous of proof gal Stocks, warehoused, end of month 14, 782 16, 140 thous. of proof gal— Withdrawn for denaturing 5,969 6,722 thous. of proof gal— Methanol, wood distilled: Crude: 303, 026 312, 481 Production* gallons Stocks, total* gallons228, 867 297, 163 Refined: Exports. , —gallons- 145, 657 62, 156 112, 122 .37 .37 .37 Price, wholesale, N.Y— _-,_dol. per gal.. 173, 636 165, 860 Production* gallons 196, 786 59, 546 Shipments* —.__„„ gallons— " Stocks end of month* gallons 218, 175 324, 489 Methanol, synthetic: Production. gallons643, 598 352, 748 Shipments „„ —gallons587, 406 512, 781 Stocks, end of month gallons 3,210,674 3,050,641 Explosives: " """ Orders, new* thous. of lb_. 23, 318 18, 985 17, 971 Sulphur and sulphuric acid: Sulphur production (Quarterly) long tons 188, 607 Sulphuric acid (104 plants) : 102, 886 100, 446 Consumed in prod of fertilizer short tons Price, wholesale 66°, at works 15,50 15.50 15.50 dol. per short ton-. Production short tons 119, 350 114, 618 Purchases: From fertilizer mfrs short tons 17, 583 13, 794 From others _„ _ short tons— 9,830 15, 002 Shipments: 14, 641 To fertilizer mfrs ^short tons— 15, 284 To others—.. short tons.. 24, 363 26, 538 3,758 3,909 1,988 3,900 4,147 2, 230 3,654 3,682 2,256 4, 818 4,915 2,349 9,084 8,229 9,012 9,149 10, 683 11, 684 12,482 13, 968 16,509 15, 922 16, 639 19, 186 19,094 20,382 22, 230 24, 595 25, 423 18, 948 13, 025 6,691 7,013 6,071 8, 264 8,688 8,654 9,486 12, 478 21, 775 20, 624 256,826 281, 484 268, 064 288, 198 174, 201 184, 921 179, 368 271, 914 253, 499 317, 110 210, 709 285, 619 262, 446 295, 354 243, 183 337, 174 312, 085 406, 939 62, 613 .37 117, 236 90, 285 351,440 233, 754 .37 124, 086 93, 848 381, 678 147, 338 .37 82, 846 105, 559 358, 965 93, 833 42, 458 .37 .37 153, 199 181, 625 108, 628 97, 697 360,251 444, 179 36,523 .37 106,494 91, 462 459, 179 55, 553 .37 163, 619 175, 608 447, 222 59, 621 .37 95, 365 105, 578 348, 752 33, 100 .37 98, 131 131, 203 315, 680 96, 293 .37 324, 527 178, 232 425, 333 366, 015 559,002 561, 918 860,314 1,460,589 1,643,040 625, 484 665, 702 576, 646 761, 369 830, 220 732, 735 955, 301 1,425,009 1,732,458 2,749,684 2,262,214 2,110,901 1,715,547 1,444,329 1,273,512 1,178,525 1,214,105 1,124,687 16, 510 16, 179 16, 197 16, 497 76, 573 23, 834 25, 086 71, 649 25, 107 25,084 23, 256 322, Oil 233, 233 116, 478 87, 500 20, 327 67, 102 53,586 71,951 116, 322 94,881 160, 688 153, 193 15.50 98, 587 15.50 131, 492 15.50 134, 370 15.50 158, 406 15.50 153, 435 15.50 99, 825 15.50 79, 328 15.50 73, 900 15.50 90, 605 15.50 76, 530 10, 625 9,987 10, 309 8,544 12, 222 14, 487 7,311 8,247 10, 323 13, 320 23, 829 16,147 29, 102 21, 804 17, 765 23,604 27, 126 31, 693 34, 589 33, 680 14, 063 21, 675 14, 439 19, 751 14, 065 23, 612 13, 194 37, 278 14,236 30,819 13, 251 38,885 16, 511 41, 970 31, 215 38, 327 23, 276 36, 270 23, 255 33, 728 38 90, 433 8,628 79,428 352 102,028 34, 129 3,943 4,603 56, 045 86 123, 289 19, 834 97,481 375 107,076 56, 682 5,248 9,643 39, 006 1.295 1.295 FERTILIZER Consumption, Southern States f 18 822 190 205 43 thous. of short tons— 234 85 295 1,118 Exports, total § .long tons.. 81, 399 71, 136 56, 163 59, 894 85, 481 69, 580 60, 349 85, 534 81, 140 6,579 Nitrogenous § Jong tons 7,625 8,829 9,845 16, 824 4,239 5,987 18, 185 7,836 70,789 Phosphate materials _ long tons 59, 887 52, 314 44, 128 50, 143 73, 165 63, 621 52, 479 71,624 250 Prepared fertilizers. _. -long tons 131 14 55 104 166 73 80 57 Imports, total § long tons 158, 088 47, 956 94, 313 90, 349 97, 507 102, 204 101, 085 105, 083 81, 207 38, 490 Nitrogenous § _ _ _ long tons 100, 139 30, 760 55, 281 65, 457 61, 535 70, 934 59, 561 72, 190 5,308 Nitrate of soda § _ „ _ _ _ _ _ .long tons 23, 50S 405 8,431 29, 921 106 66 48 2,516 2,949 1,829 5,246 Phosphates long tons 6, 814 5,956 3,934 3,486 4,539 4,878 Potash. _. _ long tons 51, 600 19, 107 38, 053 7,128 24, 968 17, 998 21, 885 20, 537 22, 714 Price, nitrate of soda, 95 percent, N.Y. 1.315 1. 345 1.295 1.345 1.295 dol.perewt— 1.295 1.295 1.305 1.295 Superphosphate, bulk: Production short tons 224, 794 227, 154 188, 631 167, 114 158, 890 177, 649 130,271 163, 953 Shipments to consumers ..short tons-7, 892 16, 188 31, 561 155, 402 265, 511 94, 066 21, 508 17, 515 Stocks, end of month short tons.. 1.076.520 1.089.429 1.066.567 897. 888 521. 297 i 477.497 514,853 565, 370 * Nsw series. For earlier data see p. 20 of the April 1933 issue (methanol) and p. 19 of January 1933 issue (explosives). 1 Figures revised due to dropping of Missouri from Southern States classification. See p. 19 of the January 1933 issue for earlier § Data for 1932 revised. See p. 36 of the June 1933 issue. d Deficit. 262, 705 240, 243 15,403 94,417 691, 913 735. 552 data. 100 65 116, 584 117,954 9,059 11,813 102, 986 102, 115 763 281 123, 390 118, 139 70, 729 . 58,718 29, 652 13, 762 5,677 7,351 44,548 48,685 1.295 1. 295 317,470 331,957 20,042 73, 920 859, 449 1, 009, 529 February 1934 SURVEY OF CURRENT BUSINESS 1333 Monthly statistics through December 1931, 1933 together with explanatory footnotes and references to the sources of the data, may be found Decem- January in the 1932 Annual Supplement to the Survey December ber 37 1933 February March April May June July October NovemAugust September ber CHEMICALS AND ALLIED PRODUCTS—Continued NAVAL STORES Pine oil: Production _ „. .gallons.. 243, 196 199,202 233, 286 186, 598 202,929 184,760 208, 133 215,130 271, 014 283,152 258, 081 274, 095 Eosin, gum: 4.65 3.01 2.89 Price, wholesale "B," N.Y dols. per bbl— 2.89 2.89 4.10 5.16 6.08 4.85 3.28 4.30 4.96 Eeceipts, net, 3 ports bbl. (500 lb.)._ 81, 627 71, 458 35, 064 30,639 35,796 63,372 110,450 121,946 123,977 113, 107 91, 251 90, 474 Stocks, 3 ports, end of month.bbl. (500 lb.)_. 210, 771 332, 613 295,859 263, 270 237, 350 212, 526 227,022 219,882 234,578 227,943 218, 280 211, 422 Eosin, wood: Production bbl. (500 Ib ) 40, 433 29,220 31, 188 25, 583 26, 597 24,926 31, 045 35, 163 41,033 42,961 43, 213 44, 821 Stocks, end of month bbl. (500 Ib.)- 73, 151 100,053 104,771 104,223 98,615 86,406 70,934 63,058 61, 785 57, 010 60, 305 65, 957 Turpentine, gum: .47 .42 .45 .47 Price, wholesale, N.Y _dols. per gal .45 .46 .46 .44 .43 .51 .48 .47 Eeceipts, net, 3 ports bbl, (50 gal.).. 17, 352 15,979 2,826 6,283 6,710 18, 176 32,359 35,649 35,265 33,237 26,911 24,479 Stocks, 3 ports, end of month.bbl. (50 gaL).- 81, 269 91, 971 84,096 74,894 63, 679 59,212 67, 117 64,824 70,451 74,920 79, 563 79, 616 Turpentine, wood: 5,070 4,175 Production bbl. (50 gal.)~ 6,916 4,975 4,255 3,831 6,028 5,514 6,642 6,929 6,516 6,779 Stocks, end of month . bbl. (50 gal.).. 16,433 13, 112 14, 194 14,399 12,387 10,863 6,981 7,242 8,004 11, 526 5,496 5,673 269,719 4.84 81,896 209, 218 43, 197 71, 058 .47 18, 535 80,383 6,880 14, 078 OILS, FATS, AND ANIMAL BYPRODUCTS Animal fats and byproducts (quarterly): Animal fats: Consumption, factory thous. of lb_. 150, 070 149, 864 Production.....^ thous. of lb__ 584,471 570, 199 Stocks end of quarter thous. oflb— 362, 129 235, 326 Gelatin, edible: Production — « thous. oflb— 3,511 Stocks, end of quarter— thous. oflb— 9,107 Greases: Consumption, factory thous. of Re- 50, 744 48, 575 production thous. of lb_. 85, 801 80, 058 Stocks, end of quarter thous. oflb— 97, 313 72,013 Lard compounds and substitutes: Production — „—_ tnous. of lb_. 238, 336 225, 932 Stocks, end of quarter --thous. of lb_. 27, 301 26, 265 Fish oils (quarterly): Consumption, factory—— .thous. oflb— 36,092 36,817 Production _ —thous. of Ib— 43, 936 28, 682 Stocks, end of quarter ...thous. of Ib— 157, 423 197, 290 Vegetable oils and products: Vegetable oils, total: Consumption, factory (quarterly) thous. of Ib— 789, 311 837,087 2,578 6,356 Exports thous. of Re7,406 6,627 imports §~ thous. of Re. 55, 176 66,191 75, 298 40, 237 Production (quarterly) thous. of Re. 812, 514 798,395 Stocks, end of quarter: Crude thous. of lb._ 757, 523 575,970 Eefined thous. of Re. 801, 835 763, 781 Copra and coconut oils: Copra: Consumption, factory (quarterly) short tons- 77, 944 56,959 Imports short tons- 30, 182 26, 772 18,009 27,300 Stocks, end of quarter —short tons- 59, 831 28,084 Coconut or copra oil: Consumption, factory: Crude (quarterly)... thous, oflb— 133, 934 127, 640 Eefined, total (quarterly) thous. oflb— 83,064 67,701 In oleomargarine thous. of Re. 13, 028 12,234 13,434 10, 706 Imports — thous, of Re- 15,971 26, 110 28,136 13, 148 production (quarterly): Crude „ . .-thous. of Re. 98, 579 70,819 Eefined thous. oflb— 73,395 59,847 . Stocks, end of quarter: Crude _ thous. of Re. 182, 822 120,928 Eefined thous. of Re. 15, 562 14,227 Cottonseed and products: f Cottonseed: t Consumption (crush).. short tons.. 446, 204 "479,837 419,354 440,333 Eeceipts at mills — short tons 404,006 «374, 393 300, 763 198, 291 Stocks at mills, end of month-short tons- 1,300,442 "1,336,391 1,211,440 969,398 Cottonseed cake and meal: t 14, 130 28,698 21,941 23,873 Exports §~ — short tons Production short tons 207,711 «214, 966 190,943 198,762 Stocks at mills, end of month-short tons- 312,096 "367, 289 842,565 332, 624 Cottonseed oil, crude: t Production thous. of Ib— 137,987 «150, 268 130,699 139,178 Stocks, end of month thous. of Ib— 168,850 «143, 902 146,688 159,060 Cottonseed oil, refined: Consumption, factory (quarterly) thous. oflb— 252, 827 229, 799 1,785 In oleomargarine - thous. of Ib 1,519 1,274 1,467 Price, summer yellow, prime, N.Y. dol. per Re.043 .035 .035 .036 production t thous. of Ib— 122, 426 »133, 122 112,212 113, 617 Stocks, end of month f thous. of Ib— 769, 235 «730, 496 759, 730 802, 125 Eevised, For revisions of the year ended July 1932, see p. 20 of the February 1933 issue. Data for 1932 revised. See p. 37 of the June 1933 issue. 138, 652 598,610 283, 313 173, 578 641, 744 375, 650 4,937 10,751 3,180 9,822 1,328 . 8,009 44,889 79,411 71, 894 59, 535 89, 974 75, 634 50, 665 88, 529 79 633 203, 564 25, 020 245, 010 21, 792 247, 898 23, 648 29, 741 18, 197 181, 374 41, 795 6,602 149, 105 44, 536 39 797 151 614 660, 362 4,697 69,913 600,825 701, 039 1,234 87,056 432,308 —— 176, 561 579, 049 373, 655 '• 2,357 55,039 2,243 82,720 664,447 839,933 59,225 14,852 24,571 1,744 65, 624 444 84, 938 488,679 769, 898 15, 754 24,895 62,805 27,257 23,779 120, 207 141, 082 69, 426 13,498 29,651 72,476 8,715 29,776 12,788 20,210 12, 272 32, 677 617, 782 604 68, 490 547 514 2,232 86,451 5,223 90,331 32,530 36, 312 14, 687 36, 203 14, 307 40,668 564, 074 655, 532 46,581 31,783 76,805 24,983 44,537 161,829 10, 750 13,026 12,659 22,727 81,498 13, 251 1,886 76,028 61, 785 79,942 68,389 96, 526 79,931 138, 551 14,382 138,024 16,815 132, 530 16, 400 368,336 148,382 749, 164 249,267 219,024 171,669 161,560 233,223 522, 690 646, 532 676,957 95, 100 71,921 40,659 65, 679 232, 646 891, 359 1,130,474 846, 525 694,997 447, 894 316,764 220,883 220,306 589, 130 1,073,072 1, 324, 640 5,039 167,464 286, 197 4,564 5,373 60 961 2,231 8,986 16,494 115,602 100,631 79,975 74,237 106,632 232,851 289, 617 221,453 207,175 197,902 160, 631 178,853 258, 257 313, 114 116,668 80, 163 161,246 122,617 10, 119 258,955 315, 070 73,324 81,279 66,347 63,769 61,745 62,444 70,878 58,826 159,454 119, 580 201, 648 145, 196 179, 866 159, 877 1,491 262,648 1,379 1,274 1,332 263, 371 1,489 1,777 1,938 .037 .040 .050 107,938 97,615 107,508 807,376 804,201 779,447 .056 70,612 737,849 .047 .042 77, 593 156, 657 622, 799 676, 537 .045 151,963 723,138 209,942 1,408 1,382 ,052 .064 67,450 68,090 676,163 640,607 38 SURVEY OF CUEEENT BUSINESS 1932 Monthly statistics through December 1931, 1933 together with explanatory footnotes and references to the sources of the data, may be found Decem- January Februin the 1932 Annual Supplement to the Survey December ber ary February 1934 1933 March April May June July October NovemAugust September ber CHEMICALS AND ALLIED PRODUCTS—Continued OILS, FATS, AND ANIMAL BYPRODUCTS— Continued Vegetable oils and products—- Continued, Flaxseed and products: Flaxseed: Imports, United States thous. of bu__ Minneapolis and Duluth: Receipts - -thous. of bu._ Shipments thous. of bu_. Stocks, end of month,. -.thous. of bu_. Oil mills: Consumption, quarterly -thous. of bu__ Stocks, end of quarter thous. of bu_ Price, no. 1, Minn ___dol. per bu._ Production, crop estimate— thous. of bu._ Stocks, Argentina, end of month thous of bu Linseed cake and meal: ' Exports ._. thous. of lb__ Shipments from Minneapolis Linseed oil: thous. of Ib.. Consumption, factory (quarterly) thous. of lb__ Price, wholesale, N.Y... dol. per lb_. Production (quarterly) .. -thous. of lb._ Shipments from Minneapolis thous. of lb-_ Stocks at factory, end of quarter „ •, thous. of lb__ T A Lard compound. Price, tierces, Chicago* dol. peril)-. Oleomargarine: Consumption (tax-paid withdrawals) thous. of lb_. Price, standard, uncolored, Chicago dol. per lb~ Production thous. of Ib— PAINTS Paints, varnish, and lacquer products: # Total sales (588 estab.) thous. of dol— Classified (315 estab.) ..—thous. of dol— Industrial — thous. of dol _ Trade thous. of dol Unclassified (273 estab.) thous. of dol— Plastic, cold-water paints, and calcimines: Sales: Calcimines dollars.. Plastic paints , dollars.. Cold-water paints. . _ - . dollars.. CELLULOSE PLASTIC PRODUCTS Nitro-cellulose: * Sheets, rods, and tubes: Production thous. of Ib Shipments — — - - - ..^thous. of Ib _ Cellulose-acetate: * Sheets, rods, and tubes: Production thous. of lb._ Shipments . thous. of Ib _ ROOFING Dry roofing felt: Production... short tons.. Stocks, end of month short tons Prepared roofing, shipments: Total . . . . .thous. squares. Grit roll thous. squares Shingles (all types) -thous. squaresSmooth roll thous. squares.. 484 914 368 570 732 221 806 1,056 1,391 1,781 1,981 2,515 1,898 148 434 399 101 107 244 288 1, 210 1,023 1,026 950 1,037 254 875 1 123 1,039 267 912 641 524 235 524 1,568 153 179 1,117 1,834 1,452 629 984 1.16 1.10 4,365 1,646 1.13 1.28 1.43 1.72 2.05 1.88 6,074 2,869 1.88 1.80 1.77 91 293 6,760 4,998 2,713 3,121 1.77 1.09 • 6,785 f 11, 671 393 126 334 960 158 4 268 854 171 645 2,362 56, 069 5,512 14, 753 5,512 26,690 5,512 22, 799 6,299 17,291 6,693 20, 518 8,268 17, 676 7,087 26, 862 4,724 38, 382 2,939 58, 686 2,362 52,481 1,772 56, 544 1,575 61,009 8,228 8,576 8,297 6,410 8,693 9, 564 10, 799 7,792 8,651 6,199 6,508 8,938 7,405 55, 778 .095 133, 906 43, 833 .069 90 987 .073 .072 39, 021 .075 79 595 .078 .087 76 975 .094 79 035 .108 .105 70, 824 .104 113, 413 .097 .096 4,108 3,462 4,405 8,152 8,770 7, 855 5,861 4,864 5,351 2,436 1,400 .063 .073 86, 926 .075 .083 .079 99, 632 .068 .069 .074 997 2,510 157, 724 .066 121, 775 .060 .059 .059 141, 105 .060 23, 809 18, 269 22, 920 15,498 23, 106 18,358 19,578 15, 578 18,929 19, 227 23,446 22, 417 23, 597 .070 21,386 .095 20, 142 .095 21, 023 .080 17, 246 .077 21, 387 .081 20, 439 .094 20, 031 .095 15, 530 .095 18,406 .095 20,859 .095 21, 553 .094 23, 664 .078 23, 943 9,485 6,730 3 223 3 507 2,755 11,275 7,698 3 530 4 168 31577 11,666 8,195 3 423 4 772 3,471 13,579 9,180 3,392 5 788 4,398 19, 044 13, 259 4 677 8 582 5,784 26, 241 17, 780 5 991 11 789 8',461 27,813 19, 272 6 828 12 444 8,542 22,090 15, 033 6 406 8 627 7,057 20,621 14, 163 6 323 7 g4o 6,457 19,098 13,007 5,545 7 462 6,091 18, 944 12, 326 4,950 7 376 6,618 16,234 11,223 4,656 6 566 5,012 65,660 50, 170 30 756 60, 047 74, 379 37 214 75 988 104, 789 42 320 99, 810 86, 440 44 159 116, 523 88, 071 61 314 181, 543 114, 546 84 241 152 678 113, 739 83 287 161 415 109, 266 61 443 143, 483 104 376 63 572 174, 793 79, 681 56 844 154, 521 62, 429 66, 913 1,221 592 770 086 720 535 732 604 783 982 938 1 111 1*144 1 228 1 119 1 598 1,450 1 387 1,277 1,026 325 352 168 160 142 125 119 117 149 211 235 221 242 221 192 222 230 232 214 230 207 218 258 279 798 1 585 1 551 909 7,352 5,003 7,604 4 827 5,460 4 864 11, 100 5 146 14,168 4 959 16,477 4 454 20,741 3 701 19,678 5 472 20,313 3 908 17,457 7 110 12,434 5 989 14, 322 4 341 10, 819 4 499 830 168 621 141 840 191 1,694 2 731 2 267 2 804 2 026 2 700 1 774 2 076 2 582 118 362 113 535 323 1,022 522 1,685 470 1,275 672 1,441 435 1,039 617 1,421 465 822 437 1,147 480 1,547 o 1, 561 a 329 342 890 157 505 348 525 522 691 552 662 487 491 555 ELECTRIC POWER AND GAS ELECTRIC POWER Consumption, industrial, for power purposes. (See Business Indexes.) Fuel consumed in production of electrical energy. (See Fuels.) 0 7,149 6,932 Production, total t -.mills, of kw.-hr.. 7,448 6,286 6,462 6,674 7,000 7,479 7,686 7,347 0 7, 478 7,231 7, 241 By source: Fuels. mills, of kw.-hr__ 4,736 4,377 3,982 3,651 3,664 3,368 4,207 4,765 4,440 0 4, 853 « 4, 724 3,603 4,648 O QO1 2 713 o 2 517 Water power mills, of kw -hr 2 772 2 950 2 635 3 024 3 010 3 094 3 396 2 831 2 907 a 2 625 By type of producer: Central stations ___ mills, of kw.-hr,. 6,968 5,922 6,670 6,535 6,059 6,792 6,265 6,578 7,024 7,213 6,908 a 7, 025 o 6, 786 Street railways, manufacturing plants, etc. mills of 480 479 364 397 409 403 422 439 473 453 455 455 439 Sales of electrical energy: - *™.-te.. Sales to ultimate consumers, total. (N.E.L.A.) . .mills, of kw.-hr 5 345 5 026 5 373 4 878 4 988 5 237 5 872 5 603 5 760 5 780 5 830 5 716 Domestic service .... mills, of kw.-hr 1,131 1,206 1,074 1,004 980 907 889 867 1 003 864 940 1 081 Commercial—retail mills, of kw.-hr_. 1,125 1,044 1,121 984 984 969 997 1 013 1 068 1 014 1 041 1 102 Commercial—wholesale. ..mills, of kw.-hr. _ 2,383 2,343 2,248 2,221 2,423 2,772 3,159 3,401 3,068 3,310 2,862 3,254 Municipal and street lighting T> M j mills, kw.-hr 217 234 211 196 179 167 143 150 166 191 197 176 Railroads: ^mo. of UAJXW. m._ Electrified steam mills, of kw.-hr 50 49 50 55 53 55 54 56 56 55 58 59 ooo Street and interurban.. mills, of kw.-hr.. 361 348 361 318 314 302 332 304 353 309 304 Gross revenue from sales of energy (Electrical World) . thous. of dol 171 880 171 370 158 620 151 920 151 420 149 950 153 590 154 860 154 930 160 080 olfiQ Q40 165 891 Revenues from ultimate consumers (N.E.L.A.) _ thous. of dol.. 157, 561 160, 279 149, 768 142,487 142,512 141,163 143,368 143,212 143,442 146,688 150, 390 153, 980 — —For earlier data (lard compound price) see p. 18 of the January 1933 issue. Earlier data not available (cellulose). «Dec. 1 estimate. * New series. / Final estimate. # Since March 1932 detailed figures are not strictly comparable owing to changes in firms reporting. « Revised. t For revised data for year 1932 see pp. 38 and 56 of the May 1933 issue. February 1934 SURVEY OF CURRENT BUSINESS 1933 Monthly statistics through December 1931, 1933 together with explanatory footnotes and references to the sources of the data, may he found Decem- Decemin the 1932 Annual Supplement to the Survey January ber ber 39 1933 February March April May June July October NovemAugust September ber ELECTRIC POWER AND GAS—Continued GAS Manufactured gas:* Customers, total -- thousands Domestic thousands House heating -thousands Industrial and commercial ._ thousands Sales, to consumers..- „. .millions of cu. ft— Domestic.. millions of cu. ft House heating millions of cu. ft— Industrial and commercial millions of cu ft Eevenue from sales to consumers thous. of dol Domestic thous. of dol._ House heating-— - _ — — _ thous. of dol— Industrial and commercial thous. of dol Natural gas:* Customers, total thousands Domestic » ~ thousands Industrial and commercial thousands Salas tn nonsnmfirs millions of cu. ft Domestic „ millions of cu. ft.. Industrial and commercial millions of cu. ft Revenues, from sales to consumers thous. of dol Domestic thous. of dol— Industrial and commercial thous. of dol— 10, 002 9 445 63 486 31,824 21, 641 3,244 9,907 9 356 61 482 32, 324 21, 937 3,424 9,879 9 328 62 481 30, 949 20, 714 3,395 9,853 9 305 61 478 30, 655 20, 821 3,216 9,824 9 279 61 476 30, 459 21, 103 2, 576 9,826 9 281 58 479 29, 937 21,481 1,449 9,848 9 313 51 478 28, 483 20, 999 473 9,891 9 359 45 481 26, 129 19,026 221 9,897 9 365 44 481 25,755 18, 610 195 9,997 9 456 50 484 27, 579 20, 532 267 10, 020 9 457 71 484 29, 592 21, 586 962 9,945 9 375 80 481 30, 603 20, 469 2,925 6 737 6 778 6 661 6 438 6 607 6 864 6 886 6 763 6 828 6 648 6 882 7 031 34, 134 25,802 2,213 5 990 34, 288 25,929 2,292 5 945 32, 872 24, 608 2,289 5,841 32, 509 24,551 2,166 5 667 32, 435 25, 020 1,787 5 516 32, 205 25, 422 1,014 5 649 31, 246 25, 251 370 5 531 28, 825 23,224 193 5 321 28, 166 22, 593 172 5 316 30, 534 24,866 228 5 342 32,028 25,736 661 5 522 31, 928 24, 367 1,746 5 705 5 499 5,032 466 88, 716 35, 325 5 470 5,003 465 90, 047 40, 477 5 503 5 Oil 491 86 262 34, 998 5 470 4 986 482 80 289 33, 153 5 430 4 955 473 73, 188 28, 182 5 444 4 972 470 62 095 20, 687 5 391 4 945 444 56 339 13 348 5 362 4 916 445 54 040 9,168 5 368 4.925 442 54 975 7,627 5 402 4 961 439 58 838 8 458 5 437 4 993 442 66 056 12, 581 5 509 5 044 463 78 069 20, 399 52, 175 48, 777 50, 337 46 361 44, 423 40 640 42, 479 44 244 46 638 49 375 52, 655 56 819 33, 407 21, 784 11,455 35, 709 24, 450 11, 130 33, 936 22, 250 11,487 30, 858 20, 201 10, 530 27 322 17, 562 9,655 23, 359 14, 664 8,604 19, 817 11, 253 8,482 17 403 8,996 8,313 17, 309 8,446 8,753 18 266 9,173 8,952 21 216 11,205 9,883 25 703 14, 669 10,847 FOODSTUFFS AND TOBACCO BMBY PRODUCTS Butter: Consumption, apparent* „. thous. of lb— 138, 550 <* 135,968 128, 678 122, 655 129, 093 133, 645 160, 871 128, 815 133, 123 142, 668 139,403 143, 939 134, 709 .20 Price, N.Y., wholesale (92 score) .dol. per lb— .19 .24 .24 .24 .20 .18 .21 .24 .25 .21 .23 .23 Production (factory)f thous. of lb— HI, 763 120, 841 127, 076 119, 212 129, 379 135, 371 187, 205 200, 712 177,638 166, 884 138, 801 129, 689 112, 413 Receipts, 5 markets. , _ _ _ thous. of lb— 49, 226 43,074 50,828 44, 750 50, 672 48, 079 65,023 73, 116 64, 057 63, 877 54,844 50, 801 47, 955 Stocks, cold storage, creamery, end of month 9,398 35, 159 106, 378 150, 934 175,476 174,713 160, 463 « 138, 166 thous. of lb— 111,210 22, 043 17,833 11,580 9,255 Cheese: Consumption, apparentf— thous. of lb— 37, 182 « 40, 801 39, 871 40,549 43, 817 45, 273 56, 740 40, 835 45, 499 39, 212 41, 305 44, 770 39,978 4,524 2,892 3,545 3,891 Imports _ .thous. of lb— 4, 845 3,830 4,988 3,070 6,862 2,730 3,100 3,440 5,527 .13 .12 Price, No. 1 Amer. N.Y ...dol. per lb— .13 .13 .11 .11 .12 .13 .14 .15 .13 .15 .15 24, 410 Production (factory) f thous. of lb— 25, 742 37, 716 31, 387 29,480 34, 073 36, 281 56, 116 64, 359 57, 813 49,927 43,291 36, 494 18, 027 American whole milkf ...thous. of lb— 19, 234 22,819 23, 815 22,124 26, 186 29, 578 43, 422 51, 142 46, 209 39, 651 33, 897 28,006 9,981 12,725 12,728 16,037 13, 989 16,923 12, 656 12,170 12, 709 Receipts, 5 markets thous. of lb— 10, 747 11, 405 10,768 10, 771 Stocks, cold storage, end of monthf thous. of lb— 91, 994 68, 714 63, 321 55,731 48,806 43, 626 48,481 78, 715 94, 291 108,035 113, 131 109, 655 o 99, 009 American whole milkf ..thous. of lb.. 77, 773 57, 749 53,532 46, 992 41, 625 37, 321 41, 336 67,456 82, 771 94,394 99, 326 95,831 « 85, 146 Milk: Condensed and evaporated: Production:! Condensed (sweetened) thous. of lb— 14, 708 16, 575 15, 178 12,715 14, 580 15, 947 21, 363 19, 496 14, 805 15, 704 18, 201 19,232 13, 766 Evaporated (unsweetened) # thous. of lb._ 84,972- 101, 617 112, 209 104, 658 141, 090 172, 178 203, 685 220, 655 179,668 149,757 126, 079 109, 754 73, 039 Exports: 286 592 506 562 Condensed (sweetened) thous. of lb__ 342 322 287 526 475 312 330 482 333 2,801 2, 629 Evaporated (unsweetened) -thous. of lb._ 3,036 3,129 3,290 2,893 2,394 1,927 1,810 2,885 2,122 3,147 3,305 Prices, wholesale, N.Y.: 4.73 4.68 Condensed (sweetened) dol. per case.. 4.68 4.68 4.68 4.68 4.73 4.73 4.73 4.73 4.73 4.70 4.68 Evaporated (unsweetened) 2.70 2.42 dol. per case2.56 2,70 2.55 2.03 2.19 2.70 2.70 2.60 2.63 2.70 2.55 Stocks, manufacturers, end of month: Condensed (sweetened): 9,547 Bulk goods thous. of lb— 7, 427 6,488 5, 573 5,453 « 9, 813 6,076 8,585 13, 269 11,437 11, 186 10,364 10, 523 9,524 7,831 Case goods-.., ._ ——thous. of lb.. 9,137 12, 234 5,310 5,935 10, 783 9,860 14, 996 16, 932 16, 428 14, 683 13, 198 Evaporated (unsweetened) : Case goods... ._ thous. of lb— 210, 407 100, 092 107, 154 101, 085 50, 571 36,975 48, 127 104, 088 131, 980 177, 536 208, 493 234, 665 225, 040 Fluid milk: Consumption in oleomargarine 5,106 , 4,736 thous. of lb— 5,039 3,988 5,041 5,344 4,858 4,426 5,044 5,220 3,773 5,765 4,814 Production, Minn, and St. Paul 31, 705 34, 903 32, 457 36, 718 34, 908 37, 821 36, 342 29, 395 25, 984 22, 812 25, 074 thous. of lb 26, 300 Receipts: Boston, incl. cream thous. of qt_. 16,713 17, 725 17,848 16, 364 18, 266 17, 591 19, 409 18, 876 19,235 19, 382 18, 243 18, 617 17,604 Greater New York _thous. of qt._ 108, 829 109, 567 102, 264 112, 525 109, 550 121, 759 118, 690 113, 383 Powdered milk: 162 Exports _ —thous. of lb— 225 183 184 179 192 192 160 248 215 196 205 225 Orders, net, new thous. of lb__ 10, 207 7,877 7,789 9,556 10, 251 12, 132 12, 910 11, 237 11, 773 9,871 10, 134 9,259 Stocks, mfrs. end of mo thous. of lb__ ~~29,~ 552" 18, 326 17, 473 16, 389 14,997 13, 354 13, 695 13,040 13, 303 13, 140 15, 294 20, 332 * 22, 716 FRUITS AND VEGETABLES Exports, fruits and preparations. (See Foreign trade.) Apples: Production, crop estimate thous. of bu._ e 143,827 f 140, 775 Shipments, car lotcarloads.. 6,855 6, 128 6,278 5,875 4,999 2,830 1,964 1,420 1,538 6,123 16, 060 1,083 9,061 Stocks, cold storage, end of month a gf 376 thous. of bbl 7,131 6,703 4, 138 1,567 2,894 8,513 590 1,749 7,515 -Citrus fruit, car-lot shipments ,— carloads.. 13, 471 13,478 13, 566 12, 287 13, 624 12, 813 14,047 12,345 6,839 8,183 7,487 6,305 10, 816 2,311 2,252 2,431 •Onions, car-lot shipments _ . carloads 2,194 1,708 3,293 1,727 2,456 1,792 2,006 2,740 3,260 1,145 Potatoes: 1.254 1.258 1.257 Price, white, N. Y~ - dol. per 100 lb 1.997 1.250 2. 080 1.290 1.417 2.371 2.305 2,017 1. 965 1.101 Production, crop estimate thous. of bu._ '317,143 f 358,009 Shipments, car lot. carloads.. 12. 245 12. 118 16. 570 16. 359 24. 481 18. 005 17. 908 21. 302 11. 834 10. 555 17. 156 21. fiQ9 73.675 * New series. For earlier data see p. 19 of the May 1933 issue (gas) and p. 19 of the June 1933 issue (butter). e # Bulk evaporated milk not included since December 1931. / Final estimate. • Revised. Dec. 1 estimate. t Revised series. For earlier data see p. 19 of the April 1933 issue (American whole milk and total cheese stocks) and p. 20 of the January 1933 issue for 1931 revised data on production of butter, cheese, and milk. Also apparent consumption of cheese. For 1932 revisions for butter, factory cheese, American whole milk cheese, condensed -and evaporated milk see p. 39 of the September 1933 issue and November 1933 issue for revisions for 1932 (evaporated milk). For subsequent 1932 revisions for evaporated milk see p. 39 of the Nov. 1933 issue. 40 SURVEY OF CURRENT BUSINESS 1933 Monthly statistics through December 1931, 1933 together with explanatory footnotes and references to the sources of the data, may be found Decem- Decemin the 1932 Annual Supplement to the Survey January Februber ber ary February 1934 1933 March April May June October NovemAugust September ' ber July FOODSTUFFS AND TOBACCO—-Continued GRAINS Exports, principal grains, including flour and 7, 558 5, 715 4,826 meal thous. of bu— Barley: 151 1,121 940 Exports including malt thous. of bu— .68 .29 .26 Price, no. 2, Minn... dol. per bu__ Production crop estimate - thuus. of bu_ *156, 104 '302, 042 2,825 2,914 1,787 Receipts, principal markets *— thous. of bu— 8,242 8,685 Visible supply, end of month.-thous. of bu— 14, 635 Corn: 408 699 155 Exports, including meal thous. of bu— 5,167 5,758 Grindings. ~ thous. of bu_. 3,924 Prices, wholesale: .22 .43 .23 No. 3, yellow (Kansas City)...dol. per bu_. .24 .47 .23 No. 3, white (Chicago) dol. per bu__ Production crop estimate thous of bu «2,330 237 f2 906 873 Receipts, principal markets — thous. of bu__ 16, 622 11, 552 12, 715 7,921 3,750 6,486 Shipments, principal markets_thous. of bu— Visible supply, end of month— thous. of bu__ 69, 334 30,724 33, 793 Oats: 123 525 237 Exports, including oatmeal thous. of bu— .35 .15 .15 Price, no. 3, white (Chicago).— dol. per bu._ Production, crop estimate thous. of bu— '722, 485 /1,246,658 3,745 "~4~352~ Receipts, principal markets thous. of bu__ 3,390 Visible supply, end of month— thous. of bu.. 46, 503 26, 310 26,220 Exports § pockets 100 lb— 96, 097 Imports pockets 100 lb— 22, 861 Price, wholesale, head, clean, New Orleans ,039 dol. per lb— Production crop estimate thous of bu • 35, 619 Receipts, southern paddy, "at mills thous. of bbl. (162 lb.)._ 426 Shipments to mills, total 573 thous. of pockets (100 lb.).. 28 New Orleans thous. of pockets (100 lb.).. Stocks, domestic, end of month thous. of pockets (100 lb.).. 2,648 Rye: 0 Exports, including flour ....thous, of bu__ .60 Price, no. 2, Minneapolis dol. per bu.. Production crop estimate thous. of bu • 21, 184 430 Receipts, principal markets*— thous. of bu.. Visible supply, end of month *.thous, of bu._ 13, 735 Wheat: Exports: Wheat, including flour thous, of bu— 6,876 Wheat only ..thous. of bu_. 5,052 Value, wheat and flour. (See Foreign Trade.) Prices, wholesale: No. 1, Northern, Spring, Minn, .83 dol. per bu,_ No. 2, Red, Winter, St. Louis .87 dol. per bu— ,80 No 2, Hard, Winter, K.C dol. per bu_. Weighted average 6 markets, all grades .83 dol. per bu— Production, crop estimate, total 6 527, 413 thous of bu Boric 2 wheat thous of bu «176 383 Winter wheat thous. of bu «351, 030 Receipts ...-..,. —thous. of bu— 11, 151 Shipments thous. of bu.. 11, 685 Stocks, visible supply, world.. thous. of bu._ Canada thous. of bu_. ~241~084~ United States thous. of bu__ 129, 574 Stocks, held by mills (quarterly) thous of bu 153 635 Wheat flour: Consumption (computed).. .— thous. of bbl— 8,607 388 Exports thous. of bbl— Grinding of wheat thous, of bu__ 33, 401 Prices, wholesale: 6.65 Standard Patents, Minn dol. per bblWinter, straights, Kansas City 5.40 dol. per bbl— Production: 7,314 Flour, actual (Census)— —thous. of bbl— Flour, prorated, total (Russell's) t thous. of bbl— 8,062 Offal— „ —.thous. of lb.. 589, 616 47 Operations percent of total capacity Stocks, total, end of month (computed) thous. of bbL. 4, 567 4 634 Held bv mills (Quarterly) thous of bbl 3,569 4,172 2,803 3,176 3,210 4,220 2,749 2,523 2,143 4, 609 449 .25 1,113 785 .45. 858 .43 836 .64 437 .58 411 .69 283 .67 1,314 .30 648 .40 1,203 8,496 1,683 8,320 5, 055 8,414 8,780 10,809 5,091 11, 701 6,280 11, 633 5,719 14, 069 6, 687 14,830 4,315 15, 692 2,974 15, 665 583 5,022 371 5,830 187 7,117 713 8,862 453 5,473 581 6,511 438 6,005 482 4,645 287 5,761 1,283 8,694 .22 .23 ,26 .26 .33 .36 ,39 .44 .40 .45 .52 .57 .50 .53 .44 .48 .38 .42 .43 .44 12, 641 3,602 35, 006 9,885 4, 991 36, 120 16, 623 11,776 32,463 26, 464 16,718 38, 362 33, 742 15,111 49, 187 46,223 23, 594 63, 456 13, 543 14, 659 57, 747 21, 333 10, 675 59,670 26, 610 17, 887 61, 462 21, 840 13, 729 64, 045 360 .15 582 .17 210 .22 153 ,25 163 .30 155 ,39 172 .36 96 ,35 105 .32 82 ,34 23,' 695 28,' 173 25^ 434 "~4~767~ ~~~8~191~ 23,983 22, 228 "l6,"542~ "~19,~978~ 44, 746 34, 598 8,"§iB" "~5~054~ 48, 642 49,367 .63 4~156 47, 818 211, 802 20, 102 153, 549 31,872 152,025 23, 837 166, 291 28, 704 157, 235 21, 635 69,816 20,047 71,573 16, 913 163, 348 20, 345 73,077 30,368 26,987 23,034 78, 296 15, 169 79, 288 24, 737 .020 /40 408 ,019 .019 .021 .022 .026 .026 .029 .031 .034 .036 .038 706 687 747 821 1,032 628 257 112 171 1,067 2,094 1, 100 834 83 838 67 750 48 1,058 72 1,102 19 821 54 565 49 554 50 431 87 605 92 965 47 773 96 2,107 2,013 2,036 1,856 1,833 1,650 1,381 937 671 1,157 2,373 2,767 2 31 /40 639 610 7,993 0 1 .52 6 .62 .83 .72 3 .43 17 2 .35 2 .33 3 2 .32 1 .71 ,62 .62 608 7,934 286 7,790 546 7,688 1,269 8,006 5,211 8,806 2,573 10, 501 1,689 11,273 1,218 11, 998 1,704 12,968 668 13, 158 1,501 14, 153 3,549 1,728 3,313 1,793 2,170 729 2,105 456 1,754 194 1,523 14 1,719 16 1, 391 29 1, 700 21 1,531 43 1,466 24 1,930 513 .48 .50 .49 .53 .63 .74 .80' 1.08 .94 .90 .85 .86 .46 ,42 .50 .44 .49 .44 .55 .48 .69 .60 .81 .70 .82 .76 1.01 .98 .92 .90 ,89 .87 .86 .83 .90 .84 .46 .48 .48 .53 .64 .73 .78 1.00 .92 .89 .84 .87 '744,076 '268 367 '475, 709 13,859 13, 604 592, 670 233, 592 168, 958 12,814 8,375 643, 550 228, 647 158,228 9,869 7,481 620, 400 223,439 148,426 12, 729 10, 246 577, 600 225,360 136, 724 15, 753 13,421 522, 330 215,204 125,934 23,310 17, 258 475,380 196,581 118, 546 28,598 15,822 458, 610 197,665 124,973 37, 172 17, 527 459, 660 193,879 135, 493 26,748 13, 729 482, 600 191, 545 149, 732 22,604 13, 568 515,950 213,356 153, 438 17, 624 17, 473 516, 580 244, 965 149,719 11, 612 15, 551 501, 060 242, 478 138, 505- 9,192 387 38, 007 9,281 324 36, 949 8,247 308 33, 133 8,144 351 40, 705 9,056 332 42, 560 9,942 321 40, 392 8,455 362 39, 487 10, 322 290 38,288 7,127 362 30, 866 8,749 312 37, 371 8,848 302 ° 37, 067 3.74 3.80 3.71 4.03 4.54 4.86 5,38 7.55 7.14 6.93 6.75 6.90 2.85 3.00 2.75 3.04 3.48 4.03 4.13 6.11 6.05 5.93 5.50 5.60 8,323 8,077 7,216 8,867 8,298 8,777 8,577 8,275 6,719 7,540 8, 181 a 8, 116 9,328 660, 411 9,055 646, 950 52 8,573 672, 587 50 9,255 709,357 53 9,128 745,950 59 9,963 711, 463 54 9,417 696, 558 52 9,375 680, 822 53 7,956 548, 544 40 8,769 609, 599 46 5,500 4 012 4,940 4,900 5,660 3,718 5,400 5,100 5,700 2,993 4,463 4,960 5,350 3,825 5,460 5,500 1,042 1,014 1,061 919 993 1,030 1,107 1,095 1,051 1, 159 1,163 1,205 <* 1, 160 1,231 1,172 1,239 1,019 1,052 1,106 1,240 1, 314 1,185 1,164 1,066 1,077 . 1,251 908 66 620 43 717 47 751 46 749 42 780 45 865 51 1,049 65 1,146 75 1,104 73 940 65 739 50 «773 54 116 910 147 095 0 173, 884 131 854 8,063 317 34, 473 9,171 9,158 656, 255 « 653, 267 52 50 LIVESTOCK AND MEATS Total meats: Consumption apparent mills, of lb ., Exports, value of meats and" fats. (See Foreign Trade.) Production (inspected slaughter) mills, of lb.. Stocks, cold storage, end of month total mills, of lbMiscellaneous meats .mills, of lb.. * New series. For earlier data see p. 20 of the November 1932 issue (barley and rye). t Data revised from July 1931. See p. 19 of the August 1933 issue. ° Revised. § Data for 1932 revised. For revisions see p. 39 of the June 1933 issue. / Final estimate. • Dec. 1 estimate February 1934 41 SURVEY OF CURRENT BUSINESS 1933 Monthly statistics through December 1931, 1933 together with explanatory footnotes and references to the sources of the data, may be found Decem- Decemin the 1932 Annual Supplement to the Survey January Februber ary ber 1933 March April May June July August SeptemOctober November ber FOODSTUFFS AND TOBACCO— Continued LIVESTOCK AND MEATS-Continued Cattle and beef: Beef and veal: Consumption, apparent thous. of lb— 415, 576 Exports! .thous. of lb— 1,924 Price, wholesale: Beef, fresh native steers, Chicago dol. per Re.082 production, inspected slaughter thous. of lb- 423, 351 Stocks, cold storage, end of month thous. of lb.. 79, 172 Cattle and calves: Movement, primary markets: Receipts thous. of animals 1 343 Slaughter, local thous. of animals.. 854 Slaughter, inspected. (See Leather and leather products.) Shipments, total thous. of animals.. 491 Stocker and feeder, .thous. of animals176 Price, wholesale, cattle, corn fed, Chicago dol. per 100 lb._ 5.32 Hogs and products: Hogs: Movement, primary markets: Receipts -» thous. of animals 3 332 Slaughter, local thous. of animals.. 2 406 Slaughter, inspected. (See Leather and leather products.) 929 ShipTnfintSi total tfaous. of fvnirnfvls Stocker and feeder thous. of animals29 Price, heavy, Chicago dol. per 100 lb— 3.31 Pork, including lard: Consumption, apparent thous. of lb— 570, 303 Exports, total _— thous. of lb— 67, 453 Lard thous. of lb 54 778 Prices: Hams, smoked, Chicago dol. per lb__ .119 Lard: Prime contract, N.Y dol. per lb— .051 Refined, Chicago* dol. perlb— .059 Production, inspected slaughter, total thous. of lb.. 751, 663 Lard _ _ thous. of lb— 150, 287 Stocks, cold storage, end of mo. thous. of lb— 759, 620 Fresh and cured thous. of lb— 627, 323 Lard thous. of lb.. 132, 297 Sheep and lambs: Lamb and mutton: Consumption, apparent thous. of Re- 55,688 production, inspected slaughter thous. of lb— 56,026 Stocks, cold storage, end of mo. thous. of lb— 3, 193 Movement, primary markets: Receipts.— thous. of animals- 1, 774 Slaughter, local _ thous. of animals 1 033 Slaughter, inspected. (See Leather and leather products.) Shipments, total thous. of animals.. 739 Stocker and feeder thous. of animals143 Prices, wholesale: Ewes, Chicago dol. per 100 Ibs— 2 44 Lambs, Chicago. dol. per 100 Ibs. 6 59 Poultry and eggs: Eggs: Receipts, 5 markets thous. of cases.. 590 Stocks > cold storage, end of month: Case. thous. of cases733 Frozen thous. of lb— 61,481 Poultry: Receipts, 5 markets thous. of Re- 70, 640 Stocks, cold storage, end of mo. thous. of lb— 123, 479 331,693 943 371, 847 927 343, 608 844 373, 610 1,135 376, 913 1,561 432, 849 1,164 434, 366 1,657 423, 174 1,344 473, 257 1, 689 465, 155 1,859 489, 501 « 436, 958 1, 060 1,680 .113 .106 .105 .097 .092 .094 .094 .094 .098 .094 .096 .090 332, 357 365, 532 338, 76-3 370, 562 372,635 430, 356 436,508 426,689 475, 679 466,068 494, 763 445,009 42, 870 39, 550 36, 015 33,781 30, 658 30,538 35, 136 41,823 48,446 51, 198 59, 233 « 70,010 « 1, 162 «690 1,318 1,136 1,171 1,296 829 1,558 1,006 1 449 1,456 953 1,657 1,068 1 653 1,004 2 178 1,160 1 699 494 471 152 386 456 534 489 460 210 603 193 150 213 261 971 731 152 111 638 97 528 381 5.77 5.09 5.16 5.44 5.52 6.32 6.36 6.50 6.32 6.23 5.77 5.26 «3, 123 2, 169 3,381 2,396 2,699 1,896 2,638 1,921 2 798 2,084 3 143 2,412 3 361 2,621 2 871 2,136 3,917 2,957 6 494 5 552 2 521 1 699 3 207 2 382 856 813 828 33 4.49 28 4.15 0 824 725 407 129 786 959 959 975 803 29 2.94 715 714 718 737 20 3.06 24 3,41 20 3.92 736 29 3.75 38 4.57 46 4.58 55 4.56 41 3.94 1 032 37 4.04 631, 981 59, 558 49 919 634, 850 88, 713 78, 137 523, 896 65, 761 57, 773 561, 356 58, 351 47 661 596, 651 50, 639 38 741 615, 825 56, 154 46 038 605,893 52,093 37 941 576, 467 61, 112 36 200 628,786 49, 240 35 714 637, 565 61, 157 48 743 .108 .107 .108 .114 .116 .121 .128 . 135 .132 .124 .122 .127 .046 .055 .046 .052 .042 ,051 .048 .055 ,049 .058 .066 .073 .066 .071 .073 .074 .060 .068 .060 .067 .057 .069 .059 .071 789,467 163, 864 819, 244 175, 438 628,937 131,985 623,747 127,436 677, 378 139, 066 750, 898 150,410 823, 375 171, 519 707, 530 148, 330 631,418 129,045 539, 848 108,085 518, 294 98, 180 752, 912 143,491 531,938 490,850 41, 088 627,925 575, 084 52,841 667, 503 609, 321 58, 182 671,914 610, 240 61, 674 702, 255 781,442 630,360 670, 553 71, 895 110, 889 946, 980 1,027,581 981, 177 760, 730 808, 322 756,701 186, 250 219, 259 224, 476 822, 498 630, 437 192, 061 627, 001 « 645,531 493, 308 « 529,454 133, 693 « 116,077 652, 097 « 670, 866 63, 705 61, 864 49 812 47 563 50, 030 54,482 51, 720 57, 790 56, 419 58, 368 54,569 51, 054 56, 762 60, 116 63, 210 49, 910 53, 761 51,400 57, 939 56, 397 58, 456 54, 556 50,862 56, 666 60,540 63, 859 52, 952 2,767 2, 029 1,683 1,818 1,773 1,843 1,807 1,594 1,487 1,886 2,511 * 2, 888 1,657 919 1,914 1,083 1,795 1,020 1,844 1,099 2,097 1 152 2,402 1 319 2,091 1 167 2,226 1 106 2,752 1,249 2,911 1 277 3,268 1 351 2,064 1 068 749 820 776 747 196 108 82 65 948 1,081 125 912 107 100 1,103 108 1,509 347 1 622 498 1 904 857 1 031 462 1.75 5 38 1.75 5.53 1.75 5.44 1.75 5.38 1.88 5 18 1.88 6 10 2 16 7 28 1.83 7 20 1.88 6 81 1 88 6 34 1 88 6 40 1 88 6 28 618 1,050 988 1,639 2,280 2, 502 1,576 1,152 951 733 651 514 159 75 163 4,857 62,944 8,062 85, 323 9,364 103, 019 9,507 107,660 8,944 102,449 7 466 93, 182 5 175 82, 302 a 2 641 « 52, 543 55, 339 46,448 40,450 1,833 45, 090 74, 866 30, 153 21, 975 17,879 18, 617 23,123 24, 086 22,121 23,966 24,862 32, 098 80, 502 111, 642 104, 833 88, 675 67,285 45, 824 38, 131 42, 705 44,970 47,789 50, 177 59, 528 « 91,211 « 72, 348 TROPICAL PRODUCTS Cocoa: Imports.. long tons. ,. 10 767 19, 873 25, 181 22, 853 14, 471 20, 324 14, 801 18, 097 18, 198 23, 884 22 056 11 346 10 903 Price spot, Accra, N.Y dol. per lb__ .0419 .0358 .0383 .0367 .0370 .0388 .0450 .0480 .0550 .0548 .0470 .0420 .0458 Shipments, Gold Coast and Nigeria long tons— 44, 599 52, 183 51,234 29,577 25,349 17, 739 18, 028 19, 613 17,832 23, 865 10, 260 11, 409 22, 126 Coffee: 962 1,117 Clearances from Brazil, total.thous. of bags— 1,426 1,303 1,245 1,116 1,197 1,366 1,586 1, 329 1,465 1,274 1,448 403 784 655 To United States -thous. of bags- . *678 597 625 627 752 716 745 602 770 873 911 1,083 1,109 922 Imports into United States— thous. of bags- 1,144 945 1,187 1,128 977 865 834 1,019 838 .082 .083 .085 .082 Price, Rio No. 7, N.Y_ dol. perlb.084 .078 .076 .076 .076 ,074 .074 .074 .081 1,792 Receipts at ports, Brazil thous. of bags.. 1,520 1,401 1,785 1,315 1,588 1,631 1,543 1,440 1,565 1,836 1,646 1,434 Stocks, world total, incl. interior of Brazil thous. of bags — 31, 005 29, 819 28, 956 27, 282 26, 089 24, 233 23, 095 22, 394 22, 370 24, 725 23, 598 Visible supply, total excl. interior of Brazil 5,154 5,296 5,754 thous. of bags— 7,590 5,508 5,778 5,888 6,634 6,140 6,418 6,957 7,179 7,345 562 545 714 United States.. thous. of bags— 1,076 821 703 735 735 747 1,006 945 976 966 Revised. * New series. For earlier data, see p. 18 of the January 1933 issue. § Data revised for 1932. For revisions, see p. 40 of the June 1933 issue. 42 SURVEY OF CURRENT BUSINESS 1933 Monthly statistics through December 1931, 1933 together with explanatory footnotes and references to the sources of the data, may be found Decem- Decemin the 1932 Annual Supplement to the Survey January Februber ber ary February 1934 1933 March. April May June July October NovemAugust September ber FOODSTUFFS AND TOBACCO—Continued TROPICAL PRODUCTS— Continued Sugar: Raw sugar: Cuban movement: Exports long tons94, 103 62, 549 Receipts at Cuban ports -.long tons__ Stocks, total, end of month 1,212 thous. of long tons_. 1,444 2,062 1,535 2,911 United States: Meltings, 8 ports t long tons__ 179, 119 212, 808 215, 768 224, 948 342 037 Price, wholesale, 96° contrifugal, New .032 York,., dol, per lb-. .027 .029 .030 .028 Receipts; From Hawaii and Puerto Rico long tons -_ 30, 840 37, 213 86, 809 125, 149 170, 909 Imports § -long tons _ 105, 123 136, 805 170 779 163 821 258 951 Stocks at refineries, end of mo . f long tons__ 203, 513 152, 131 147, 879 200, 163 281, 051 Refined sugar: 5,965 Exports including maple § long tons 3 325 2,616 2 470 2 768 .052 Price, retail, gran., N.Y _.„ dol. per lb._ .049 .049 .047 .048 .043 .041 Price, wholesale, gran., N.Y__,dol. per lb._ .041 .039 .038 34, 668 88, 569 Shipments 2 ports long tons 52, 654 83 876 94 278 Stocks, end of month, 2 ports— -long tons- 26, 360 71, 385 59, 315 65, 767 26, 046 Tea: 7,670 Imports thous. of lb_9,817 5,705 9,038 6,635 Price, wholesale, Formosa, fine, N Y . .175 dol. per lb__ .175 .175 .175 .175 9 OO/ Sft9 A, 2,825 2,637 2,386 2,213 2, 081 1, 598 1, 292 345 677 361 308 411 361 358 713 408 918 277, 642 258, 209 264 289 .031 .033 .034 .035 .035 .035 .033 .032 227, 499 308 660 185, 062 305 753 164, 316 261 516 176, 296 312 112 99, 100 169 933 177, 152 108,023 63, 845 170, 729 53, 354 160 903 367, 545 426, 714 448,183 498, 052 369, 780 311, 462 290, 416 248, 054 2 854 .048 .042 66 774 25, 605 3 090 .049 .044 76 163 32, 826 3 625 .049 .045 62 279 36, 513 3 513 .054 .046 59 718 38, 928 4 062 .052 .046 67 208 4,020 4,427 4,900 7 067 7 295 5,846 8 909 .175 ,175 .175 .175 42,018 .052 .046 49, 909 32, 649 .05] .045 36, 464 25, 984 .052 .044 35, 636 23, 473 11, 575 9,496 10, 929 6,418 .175 .175 .175 .175 MISCELLANEOUS PRODUCTS Candy sales by manufacturers thous. of dol.. 22, 319 19, 734 16, 104 Fish: Landings, fresh fish, principal ports thous of Ib 14 038 17 270 395, 267 282, 104 Salmon, canned, shipments _ cases. _ Stocks, total, cold storage, 15th of month thous. of lb._ 57, 233 0 55, 738 45, 756 TOBACCO Leaf: Exports §__ _— thous. of lb.» 62, 568 31, 842 28, 403 4,198 4,147 Imports, unmanufactured thous. of lb_. 16, 392 Production crop estimate thous. of Ib _ «1,396,174 1,022 558 Stocks, total, including imported types 2,145 (quarterly) mills, of Ib Flue-cured, fire-cured, and air-cured mills, of Ib 1,679 Cigar types - mills, of lb__ 383 Manufactured products: Consumption (tax-paid withdrawals) : 7,800 8,622 7,319 Small cigarettes— _—. millions-Large cigars - thousands- - 276, 690 254, 136 296, 640 Manufactured tobacco and snuff thous. of lb__ 21, 686 24, 116 27, 786 Exports, cigarettes thousands _. 271, 219 216, 297 207, 980 Prices, wholesale: 4.851 6.042 5.292 Cigarettes dol. per 1,000Cigars -~ dol. per 1,000— 46. 461 48. 685 48. 685 15, 506 14, 862 15,033 15, 561 11, 844 10, 717 16, 286 21, 553 22, 598 22, 303 22 325 631, 818 24 158 516, 749 28 426 378, 682 30 297 477, 019 22 231 301, 645 28 784 323, 634 34 036 700, 734 30, 542 603, 692 33. 595 318, 730 21 170 200, 074 35, 469 25,855 19, 335 19,646 25, 711 33, 231 44, 850 51, 172 55, 902 57, 535 25, 796 36, 725 9,910 38, 713 20, 251 18, 523 1,502 30, 621 1,880 24,503 42, 396 66, 217 1,911 44, 182 7,397 4,285 2,669 1,666 2,349 2 278 2 099 2,009 1 785 1 599 1,529 389 2,776 389 400 9,528 6,835 7,854 7,974 287, 430 290, 111 321, 207 7,973 12, 823 371, 373 12, 463 418, 570 400, 511 9,526 11, 189 434, 821 423, 600 9,176 408, 452 415, 347 24, 446 146, 038 27, 456 238, 126 28, 847 131, 016 31, 838 197, 603 32, 358 142, 109 28, 782 207, 360 32, 942 171, 439 29, 133 271, 311 30, 546 272, 496 238,329 4.961 46. 062 4. 851 46. 062 4.851 46. 062 4.851 46. 062 4.851 46. 082 4.851 46. 062 4.851 46. 062 4.851 46. 062 46.519 4. 851 4.851 46. 461 25, 407 FUELS AND BYPRODUCTS COAL Anthracite: 71 102 83 89 85 67 60 99 125 Exports -- thous. of long tons.80 38 31 83 Prices: Retail, composite, chestnut 13.24 13.65 dol. per short ton... 13.12 13.26 13.61 13.53 13.48 13. 00 12.00 12.65 13. 23 12.25 12.26 Wholesale, composite, chestnut # 9. 962 9.926 dol. per short ton_. 9.926 10. 921 12. 228 12.228 10. 874 10. 095 9.341 9.931 9.542 9.616 9. 648 4, 811 5,141 3,807 4,275 4,519 2,891 4,993 4,711 Production— — ___thous. of short tons. J>4, 424 2,967 3,928 3, 677 4,396 4,012 3,274 4,430 3,744 4, 222 4,098 3,820 3,521 4,147 Shipments - thous of short tons _ 2,460 2,495 3, 239 3,990 1,732 1,236 792 1,293 Stocks, in storage. thous. of short tons _ 1,106 511 435 1,351 457 533 736 977 1,267 Stocks, in yards of dealers, end of month 34 32 46 no. of days' supply 42 49 63 53 Bituminous: Consumption: 3,694 2,729 2,502 2,554 2, 708 2,854 3 536 Coke plants thous. of short tons _ 2,469 3, 329 3,805 4,164 4,346 4 020 Electric power plantsf 2,492 2,294 thous. of short tons-_ 2,678 2, 074 2,305 2,482 2,882 2,831 2,196 2,785 2,676 « 2, 739 2,826 4,682 4,492 5,080 4, 248 " 4, 354 5,002 Railroads thous. of short tons _ 4,481 4, 357 4,659 4,746 5,159 4, 759 91 83 58 140 Vessels bunker thous. of long tons 63 65 122 59 106 117 134 103 118 448 453 Exports - thous. of long tons _ 337 287 722 1,000 435 806 983 953 976 811 Price, retail composite, 38 cities dol. per short ton__ 8.18 7.51 7.46 7.45 7.43 7.64 7.37 7.17 8.19 7.18 7.94 7.77 8.08 Prices, wholesale: 3.582 Composite, mine run— dol. per short ton__ 3.961 3. 555 3.549 3.566 3.503 3.572 3.497 3.500 3.722 3.963 3. 090 3. 929 Prepared sizes (composite) 4.164 3.642 3.614 dol. per short ton_3.598 3.400 3.550 3.726 3.581 3.416 3.416 3.829 4. 167 4.119 Production_ -thous. of short tons~_ ^29, 600 31, 522 27, 060 27, 134 23, 685 19, 523 22, 488 25, 320 29, 482 33, 910 29, 500 29,656 30 582 Stocks, consumers, end of month thous. of short tons.. 29, 666 29, 046 23, 843 22, 486 « 22, 972 30, 582 34. 133 e °Revised. § Data for 1932 revised. For revision see p. 41 (sugar) and p. 42 (tobacco) of the June 1933 issue. Dec. 1, estimate. t For revised data for year 1932 see p. 41 of the May 1933 issue (sugar) and p. 42 of the May 1933 issue (bituminous coal consumption by electric-power plants). Data for anthracite shipments revised for 1932.—-See p. 42 of the December 1933 issue. For 1932 final revision of anthracite and bituminous coal see p. 42 of the January 1934 issue, # Price converted to short-ton basis. / Final estimate. » Preliminary. SURVEY OF CURRENT BUSINESS .February 1934 1933 ^Monthly statistics through December 1931, 1933 together with explanatory footnotes and references to the sources of the data, may be found Decem- DecemJanuary Februin the 1932 Annual Supplement to the Survey ber ber ary 43 1933 March April May June July August SeptemOctober ( N S m ber FUELS AND BYPRODUCTS—Continued COKE Exports . . thous. of long tons. . Price, furnace, Connellsville . dol. per short ton.. Production: Beehive t thous. of short tons.. Byproduct f thous. of short tons Petroleum.. thous. of short tons-. Stocks, end of month: Byproduct plants ___thous. of short tons.. Petroleum, refinery thous. of short tons.. 39 27 21 22 23 14 46 56 62 73 85 72 56 3.75 1.88 1.88 1.81. 1.75 1.75 1.75 1.84 2.50 2.91 2.63 3.47 3.75 90 2,455 129 79 1,785 150 82 1,785 95 84 1,639 107 93 1,666 147 47 1,656 138 47 1,921 50 2,241 68 2,797 71 2,923 60 2,712 45 2 582 93 2 345 2,850 727 «3,498 1, 330 3,308 1,236 2,831 1,172 2,703 1,149 2,847 1,149 2,975 1,176 145 154 2,947 1,185 154 a 2, 951 1,149 112 0 3, 022 1,036 139 a 3, 080 987 139 118 3,053 891 3 043 760 PETROLEUM AND PRODUCTS Crude petroleum: Consumption (run to stills) __ thous. of bbl._ 70, 440 65, 998 66, 093 61, 042 67, 984 68, 822 74, 340 74, 619 79, 525 '79,151 75, 316 75, 461 68, 461 2,746 2,831 2,143 2,369 3,803 2,910 2,206 Imports ____. __thous. of bbl__ 2,876 3,411 3,673 2,069 1,758 1, 875 .530 .940 .745 .380 .380 .315 Price, Kansas- Oklahoma _ —dol. per bbL. .380 .276 .505 460 768 940 940 Production H_ .._ thous. of bbl__ 72, 060 58, 295 63, 998 61, 029 75, 302 65, 313 84, 747 82, 841 84, 387 85, 239 78, 186 76, 017 69, 755 60 Refinery operations pet. of capacity _ 60 63 69 •72 65 63 67 73 73 69 71 65 Stocks, end of month: California: Heavy crude and fuel oil— thous. of bbl... 87, 826 95, 933 95, 765 95, 590 94, 554 95, 349 95, 322 95, 367 95, 335 95, 273 94,926 92, 507 90, 242 Light crude thous. of bbl__ * 35, 193 39, 340 39, 297 39, 968 39, 909 39, 516 38, 722 37, 537 36, 625 & 35, 197 & 35, 076 &35, 568 &35, 399 East of California, total 1 thous. of bbl._ 6313, 845 294, 172 290, 404 289, 342 295, 349 289, 933 297, 166 303, 260 306, 969 &317, 554 ^317, 814 6-314, 491 «>313, 650 6 Refineries 1— thous. of bbL. 6 57, 048 47, 816 47, 100 46, 797 48, 889 48, 997 50, 839 50, 220 48, 304 6 56, 429 56, 452 654, 458 655, 837 Tank farms and pipe lines ^thous. of bbL. 6265, 022 24.6, 356 243, 304 242, 545 246, 460 240, 936 246, 327 253, 040 258, 665 6259, 134 b259, 426 6258, 357 &255, 921 639 Wells completed *f number 793 444 485 486 472 372 548 903 643 955 992 1 070 Mexico: 1,509 1,372 Exports .-thous, of bbL.. 2,582 1,290 1,398 1,867 1,940 2,215 2,502 2,607 947 1,278 1,184 2,890 Production thous. of bbl._ 2,961 2,547 2,825 2,805 3,008 2,886 2,951 2,893 2,606 2,428 2,900 Venezuela: * 9,104 9,582 Exports _.-__— thous. of bbL. 10, 558 9,624 8,661 10, 076 8,222 9,340 9,636 10, 146 9,959 10, 096 10, 398 9,699 Production _„ thous. of bbL. 11, 084 8, 834 9,309 9,945 9,262 9,133 10, 052 9,058 10, 309 10, 182 10, 728 10, 717 Refined products: Gas and fuel oils: Consumption: 703 649 Electric power plantst-.- -thous. of bbL. 580 652 674 727 898 1,028 951 967 902 «945 « 914 2,882 Railroads - -thous. of btaL. 3,077 2,699 2, 785 2,809 2,948 2,926 2 891 2 817 2 953 3 292 3 154 2,702 Vessels, bunker thous. of bbL. 2 705 2,751 2,779 2,826 2,726 2,813 3,179 2,896 3 070 2 397 2*669 °l' 531 Price, fuel oil, Oklahoma, 24-26 refineries dol. per bbL. .475 .556 .325 .425 .363 .663 .331 .356 .415 .444 .563 .620 .650 Production: Residual fuel oil* 1 _.thous. of bbL. 18, 962 18, 705 18, 578 17, 156 19, 246 19, 145 20, 010 20, 556 21, 572 21, 049 20, 143 20, 819 19,004 Gas oil and distillate fuels* 5 6,885 thous. of bbL- 7,252 5,980 6,451 6,845 5,751 6,108 6,271 7,295 6,143 6, 375 7, 157 6,391 Stocks: Residual fuel oil, east of California* 1 thous. of bbl._ 17, 849 19,838 18, 911 18, 069 17, 714 17, 230 17, 763 17, 374 17, 941 « 19, 097 18, 824 20, 315 18, 957 Gas oil and distillate fuels, total* thous. of bbL . 16, 612 14,110 12, 683 11, 549 11, 557 11, 390 12, 890 14, 980 17, 760 18, 948 20, 160 20, 454 19, 016 Gasoline: Consumption t thous. of bbL_ 28, 787 27, 110 26, 442 23, 312 28, 227 30, 176 33, 999 37,710 34,458 37,426 34, 303 32, 973 30, 262 Exports . __ -- -~ _-thous, of bbl-.. 1 452 2,251 1,729 1,830 1 829 3,024 1 955 2, 154 3 029 2 455 1 550 1 802 2 771 Exports, value. (See Foreign Trade.) Price, wholesale; " Drums, delivered, N.Y dol. per gaL. .135 .143 .151 .135 .135 .145 .177 .149 .165 .165 .174 .177 .177 Refinery, Oklahoma ..dol. per gal. _ .028 .037 .026 .026 .050 .023 .026 .037 .041 .048 .052 .051 .050 Price, retail, service station, 50 cities dol. per gaL_ .125 .116 .115 .116 .131 .116 .108 .135 .140 H5 143 142 Production: At natural gas plants f— .thous. of bbl__ 2,87G 2,931 2,543 2,771 2,674 2, 776 2,669 2,769 2,824 3, 005 2,791 2,981 2, 931 At refineries 1 thous. of bbL. 31, 685 31,254 30, 508 27, 676 31, 577 31, 921 34, 611 35,428 36, 576 36, 524 36,581 35, 971 32, 891 Retail distribution (41 States) t mills, of gal__ 801 768 689 884 810 969 1,074 1,004 1,084 962 1 030 ^31 Stocks, end of month: 539 At natural gas plants thous. of bbL. 449 651 752 814 653 926 873 950 847 661 572 609 At refineries !„_ _ -thous. of bbL. 29, 595 31, 329 37, 691 35, 652 36, 882 35, 881 33, 757 30, 582 30, 142 29,038 28, 747 28, 572 27, 308 Kerosene: 3,149 Consumption ^ -„. thous. of bbl 3,656 3,274 3,005 2 975 4 143 2 925 2 041 3 115 2 799 3 375 3 406 3 726 872 Exports— __thous. of bbL. 630 851 615 629 691 349 846 598 620 922 726 1,045 Price, 150° water white, refinery, Pa. dol. per gal.. .052 .048 .049 .048 .048 .044 .047 .044 .045 .044 .048 .053 .053 Production— .. thous. of bbl._ 4,289 4,097 4,363 3, 691 3,877 4,046 4,272 4,146 4, 126 4,109 4,004 3,993 4,005 4,974 Stocks, end of month ,-_thous. of bbl__ 4,794 4,574 6,404 5,230 5,761 7,785 6,495 4,827 8, 445 8,343 7,987 7, 217 Lubricating oil: 952 859 Consumption ^ thous of bbl 1 667 1,101 1 143 1 390 1 624 1 646 1 630 1 535 1 426 1 507 1 538 Price, cylinder oil, refinery, Pa. dol. per gal. . .190 .133 .133 .119 .113 .116 .134 .149 .169 .179 .183 .190 .190 2 212 Production thous of bbl 1 625 1 827 1 621 1 794 2 114 2 115 1 871 1 846 1 965 2 019 2 375 2 046 Stocks, refinery, end of month 8,812 thous. of bbL . 6,896 8, 465 7,734 8,796 8,712 8,330 8,167 7,199 7,226 7,007 6,776 7,075 Other products: Asphalt: 1 3 ] 1 3 1 4 3 2 Imports _ _ .thous. of short tons „ 0 o 2 o 102 95 Production ^ thous. of short tons.. 145 151 124 152 229 247 234 265 247 218 156 Stocks, refinery, end of month 276 272 294 thous. of short tons.. 304 255 306 288 242 ,298 278 268 253 259 Coke. (See Coke.) Wax; Production thous oflb 41 720 35, 000 36 680 28, 000 36 400 37 800 40 600 38 640 36 120 40 320 42 280 47 320 43 680 Stocks, refinery, end of month thous. of lb— 68, 833 163, 628 160, 240 147, 849 136, 785 124, 927 124, 770 112,614 98, 536 85, 924 80, 300 75, 803 72, 751 a Revised. •' * New series. For earlier data see p. 20 of the February 1933 issue. t For revised figures for year 1932 see p. 43 of the May 1933 issue (consumption of fuel oils by electric power plants), and p. 43 of the May 1933 issue (retail distribution of gasoline for 1932). Data for coke revised for 1932. See p. 43 of the Deeen .ber 1933 issue. 1 Data revised for 1932. For revisions of months January to August, inclusive, see p. 56 of the November 1933 issue. & Statistics here given as of Aug. 31, Sept. 30, Oct. 31, Nov. 30, and Dec. 31 are. not comparable with these figures for earlier months because of revisions and transfers from one kind of storage to another as a result of the new form of report to the Petroleum Administrative Board. The Bureau of Mines has not found it possible to reconcile these figures and will report the figures henceforth to compare with the August data. The Aug. 31 figures on the old basis are on p. 42 of the November 1933 issue. « Beginning Aug. 31 figures reported on the new basis caused by transfer of 414,000 barrels from gas oil and fuel oil stocks. SURVEY OF CUREENT BUSINESS 44 1932 Monthly statistics through December 1931, 1933 together with explanatory footnotes and references to the sources of the data, may be found Decem- DecemFebruin the 1932 Annual Supplement to the Survey ber ber January ary February 1934 1933 March April May June July 38, 996 6,353 14, 887 7,184 7,412 50, 103 6,500 24, 836 8,579 7,756 August SeptemOctober November ber LEATHER AND PRODUCTS HIDES AND SKINS Imports, total hides and skins§ — thous. of lb— Calf and kip skins ....thous, of lb— Cattle hides thous. of lb__ Goatskins thous. of lb._ Sheep and lamb skins ,_ .thous. of lb.. Livestock, inspected slaughter: Calves - „._— .thous. of animalsCattle - .—thous. of animals.. Hogs —~ thous. of animals.. Sheep — thous. of animalsPrices, wholesale: Packers, heavy native steers, Chicago dol. per lb.Calfskins, no. 1 country, Chicago dol. perlb.. LEATHER Exports: Sole leather thous. of lb— Upper leather! thous. of sq. ft— Production: Calf and kip* thous. of skins.. Cattle hides* ..thous. of hides — Goat and kid* . .thous. of skins. _ Sheep and lamb* thous. of skins.. Prices, wholesale: Sole, oak, scoured backs (Boston) dol. per lbUpper, composite, chrome, calf, black, "B" grade..—. ...dol. per sq. ft— 20, 766 2,104 7,762 6,837 2,541 18,046 2,350 4,776 5,303 3,653 14, 728 2,591 3,288 4,795 2,127 12, 916 1,987 2,545 4,266 2,688 14, 256 1,816 3,127 5,454 2,090 17, 516 3,445 4,463 6,222 1, 150 29,292 4,606 10, 432 3,759 5,909 50,828 5,492 26, 374 8,733 8,320 36, 354 3, 191 17 488 8,291 5,083 32, 645 4,192 14 450 7,901 4,086 21, 58& 2,405 10 227 5,319 2, 368 402 327 345 317 398 426 476 441 401 416 405 455 424 4,530 1,390 4,584 1,264 4, 700 1,332 3,647 1,250 3,602 1, 413 3,847 1,409 4,286 1,505 4,626 1,490 3,914 1,399 3,477 1,532 3,038 1,609 3,058 1,668 4,501 1,356 .055 .054 .048 .052 .062 .098 .122 .137 .150 .132 .103 .103 .061 .066 .061 .066 .076 .121 .153 .174 .190 .174 .158 .156 116 6, 684 137 5,276 134 4,484 86 5,071 162 6,005 168 4,541 123 5,192 88 4,876 175 6,464 167 4,917 124 6,315 113 5,263 113 6,703 1,013 1 525 3,763 2,322 894 1,311 3,205 1,797 839 1,276 3, 431 1,897 871 1,233 3,320 2,163 920 1,303 3,451 2,123 822 1,175 2,770 1,847 1,051 1,406 3,120 3,305 1,384 1, 489 3^925 3,997 1,393 1,413 4,133 4, 228 1,435 1, 559 4,634 3,932 1,113 1,436 3,988 3,236 1,126 1,535 4,003 3,288 1,063 1,632 3,786 2,630 721 567 612 569 617 616 751 717 752 840 821 861 777 .099 ,167 .32 .26 .25 .23 .23 .23 .29 .34 .37 .40 .39 .35 .31 .350 .242 .235 .233 .236 .241 .281 .314 .330 .348 .349 .344 .337 LEATHER MANUFACTURES Gloves and mittens: 181, 693 142, 476 152, 378 166, 375 190, 893 251, 036 297, 697 294, 481 316, 436 281 363 282, 249 Production (cut), total dozen pairs. _ 72, 106 70, 608 53, 152 83, 188 101, 987 121, 494 150, 455 142, 508 168, 559 141, 776 127, 317 Dress and street dozen pairs... 89,324 80, 272 83, 187 111, 085 89, 382 147, 242 151, 973 147, 877 139, 587 154, 932 Work dozen pairs 88, 906 Shoes: 80 70 35 41 71 63 51 58 57 64 Exports _thous. of pairs ._ - 78 71 Prices, wholesale: Men's black calf blueher, 5.35 5.50 5.50 5.50 5.50 5.50 5.40 5.50 5.50 5.50 5.15 5.40 Boston _dol. per pair-Men's black calf oxford, lace, 4.20 3.85 3.85 3.85 3. 85 3.85 3.85 3.85 4.23 4.35 4.35 4.08 St Louis -dol. per pair.. Women's colored calf, Goodyear welt, ox3.25 3.25 3.25 3.27 3.35 3.77 3.85 3.30 3 25 3.45 3.85 3 93 ford average dol per pair Production, total thous. of pairs, _ 20, 095 20, 096 22, 717 26, 384 28,576 27, 630 32, 965 34, 861 33, 661 37, 019 31, 234 .« 31, 455 5,763 6,092 8,362 9,040 8,293 6,186 5,397 6,837 9,138 6,217 8,328 7,656 Men's .„ thous, of pairs.. 1.150 1,932 1,442 1,532 2,103 1,827 1,513 1,448 1,993 1,711 1,607 1,683 Boys' and youths'— - - .thous. of pairs— 14, 521 9,283 11, 360 12, 587 5,938 10, 726 11,950 12,061 12,098 « 10, 999 11, 608 Women's -- -thous. of pairs. „ 6,765 2, 492 3,226 2,482 3,052 2,879 3,081 3,201 1,976 2,985 3,248 2,670 Misses' and children's thous. of pairs.. 1,889 1,852 4,340 4,513 4,735 4,138 «0 4, 986 3,255 1,368 2,399 2,583 3,525 Slippers, all types thous. of pairs, - 1,955 2, 858 4,262 2,752 3,321 2,962 3,119 3,512 3,276 2,017 2,378 4,197 All other footwear thous. of pairs. . 2,151 228, 486 100, 559 127, 927 74 5.50 4.35 3.85 « 23, 695 6,909 1,515 «6,783 1,974 4,256 2,258 LUMBER AND MANUFACTURES LUMBER Exports, all types* _ M ft.b.m— Retail movement: Retail yards, Ninth Fed. Res. Dist.: Sales M ft.b.m,. 68, 322 70, 582 49,626 67, 719 75, 185 89,304 94, 525 95, 235f 78,192 75,965 80, 469 2,266 0 1, 805 56, 513 « 51, 123 1,685 54, 292 1,237 54, 949 1,952 56, 253 3,678 57, 227 5,430 58, 122 7,515 60, 199 6,681 62, 345 6,498 60, 344 6,868 59, 031 7,555 56, 902 2,534 28, 365 2,326 29, 034 2,124 29, 208 2,175 29, 156 2,430 28, 428 2,168 28, 190 5,195 5,535 2,832 4,384 14, 590 3,485 4,994 3,761 4,326 14,228 2,643 5,388 4,252 3,386 17, 171 2,243 4,622 2,784 2,622 17, 723 3,759 5,755 3,161 3,236 18, 610 2,419 5,889 2, 342 2,300 18, 546 13,499 17,581 15, 888 17, 723 37, 176 9,445 13,924 17, 693 13, 676 42, 806 12,858 14, 567 18,446 12, 793 60, 946 6,341 11, 377 9,376 9,563 62,415 8,130 11, 456 6,953 8,624 65, 029 12, 263 12,066 6,989 10,017 63,795 233 264 135 184 240 169 128 208 165 128 200 150 128 211 143 143 234 131 229 1,826 1,562 203 1,789 1,548 158 1,789 1,581 97, 956 Retail yards, Tenth Fed. Res. Dist.: 1,662 1,530 2,026 2,506 1,862 1,615 1,281 Sales M ft.b.m— Stocks, end of month M ft.b.m.. 27, 951 28, 105 27, 371 27, 214 27, 031 28, 029 28,059 Flooring Maple, beech, and birch: Orders: 3,942 1,501 2,452 1,155 1,083 1,588 New.... M ft.b.m.. 2,219 5, 141 3,432 3,420 3,206 4,269 3,899 Unfilled end of month M ft.b.m.. 4,789 784 736 1,078 1,650 1,736 1,359 Production... M ft.b.m.. 2,353 3,234 1,246 2,715 1,496 2,097 1,590 1,318 Shipments M ft.b.m.. Stocks, end of month — M ft.b.m.. 18, 210 19,413 19,261 18, 712 18,483 17, 238 16, 129 Oak: Orders: 22, 645 7,616 9,369 4,164 9,654 3,238 New M ft.b.m.. 3,365 Unfilled, end of month M ft.b.m.. 10, 655 11, 766 11, 556 14, 636 15,095 15, 568 22, 418 12,464 6,854 5,501 4,959 5,784 7,553 5,926 Production - - M ft.b.m,. 14, 549 7,573 4,433 6,074 9,479 4,327 Shipments M ft.b.m.. 6,417 Stocks, end of month M ft.b.m— 65, 234 54, 752 55, 200 55, 171 52, 130 50, 190 48,073 Hardwoods Hardwoods (Southern and Appalachian districts): Total: Orders: 79 90 98 146 71 68 New mill.ft.b.m.. 0) 226 252 230 247 238 218 Unfilled, end of month ..mill.ft.b.m.. 0) 64 60 60 71 49 135 Production .mill.ft.b.m.. 0) 98 120 116 86 86 75 Shipments mill.ft.b.m-. 1,982 2,058 2,118 2,166 2,217 Stocks, total, end of month... mill.ft.b.m. . 1,870 1,832 1,888 1,735 1,928 Unsold stocks mill.ft.b.m.. 1,652 1.965 0) a Revised * New series. For earlier data see p. 19 of the June 1933 issue (leather), and p. 20 of the November 1932 issue § Data revised for 1932. For revisions see p. 43 of the June 1933 issue. i Data not computed for May 1933. 8 Cumber exports)3 131 1,728 1,528 124 1,740 1,530 72,741 0 « 3, 879 55, 605 124 1, 784 1,550 SURVEY OF CURRENT BUSINESS February 1934 1933 Monthly statistics through December 1931, 1933 together with explanatory footnotes and references to the sources of the data, may be found Decem- January Februin the 1932 Annual Supplement to the Survey December ber ary 45 1933 March April May June July August SeptemOctober November ber LUMBER AND MANUFACTURES—Continued LUMBER—Continued Hardwoods— Continued Softwoods Fir, Douglas: Exports § Lumber... M ft.b.m.. Timber . . „„ _M ft.b.m Orders Newf ... . M ft.b.m Unfilled, end of month • M! ft.b m Price, wholesale: No. 1 common _.dol. per M ft.b.m,. Flooring, 1 x 4, " B " and better dol, per M ft.b.m.. Production 1... _ M ft.b.m.. Shipments J _M ft.b.m.. Hemlock, northern: Production _ _ . . M ft.b.m Shipments M ft.b.m.. Pine, northern: Orders, new M ft.b.m.. Production , M ft.b.m.. Shipments... . . .. M ft.b.m Pine, southern: Exports: Lumber § .„ M ft.b.m.. Timber § M ft.b.m . Orders: New.. _. ._ __ M ft.b.m Unfilled, end of month — „ M ft.b.m.Price, flooring ._ dol. per M ft.b.m Production „ M ft.b.m Shipments .._..... M ft.b.m. . Redwood, California: Orders: New — M ft.b.m_. Unfilled. M ft.b.m.. Production... M ft.b.m.. Shipments,.. M ft.b.m-, 44 395 352 65 451 386 52 440 388 51 425 374 52 411 358 59 392 332 85 582 496 53 600 547 71 614 543 73 694 521 67 584 517 69 563 494 1,396 6,523 4 519 9 351 6 647 8,892 7 432 8 941 4 914 14 372 23,326 24, 688 25,720 17 720 15,379 17 865 24, 878 34 425 31, 771 28 132 30, 871 18, 975 68 356 288 77 427 350 80 453 373 65 350 285 76 364 288 48 382 334 86 538 453 83 545 462 71 554 482 78 549 471 76 557 481 92 570 477 16 353 5 553 26 690 7 382 26 280 11 376 21 814 9 574 14,290 10 285 13, 039 35, 795 24 478 39,447 15 681 32, 968 23 308 24,933 16 408 27,515 16 043 25, 361 14, 854 20, 373 11 602 106, 093 105 645 97 140 141 457 134 294 229 196 247 549 154 439 122 656 85 053 120 865 109 674 107* 883 120 417 195 175 203 680 218 900 105 645 131 161 112 807 118, 179 116 388 164 287 120 865 18.50 8.97 37.00 20.68 81, 920 82, 815 8.58 9.50 ___ | Hardwoods (Southern and Appalachian districts)— Continued Gum: Orders, unfilled, end of month mill.ft.b.mStocks, total, end of month.. _mill.ft.b.m__ Unsold stocks mill.ft.b.m.. Oak: Orders, unfilled, end of month mill.ft.b.mStocks, total, end of month. ..mill.ft.b.m__ Unsold stocks.-, mill.ft.b.m.. Northern hardwoods: Production . _ M ft.b.m Shipments M ft.b.m . 11.02 11.34 13.36 16.20 16.99 20.61 21.58 21.30 21.34 93, 558 97, 587 105, 645 115, 046 96, 244 104, 302 119, 970 140, 114 22.42 137,428 149, 962 24.59 175, 030 197,860 30.81 196, 070 184, 879 32.62 188, 460 184, 431 10.67 18.39 18. 27 33.79 136, 980 141,904 33.85 132, 056 119, 522 33.71 128,027 118, 179 16.91 1,458 1,843 2, 088 2,868 2 305 3 109 2 443 5 176 1 747 7,555 2 354 11 440 4 161 14 447 2 770 14 646 2 731 13 526 2 355 9 690 2,350 17, 775 0,997 1,029 6,456 4,643 0 5,403 4,218 0 4 126 4,954 0 4 379 5,050 0 4 966 9,352 1,246 8 317 13, Oil 7,035 11 984 14, 548 14,942 15 069 13, 599 15, 335 14 733 9,323 16, 270 12 829 11,842 16, 139 12 925 10, 253 8,664 12, 770 7,095 1,377 8,196 21, 156 7,431 24,454 6,787 20,876 5,254 18, 232 5 024 17,300 7 684 21,427 4 831 24,979 7 582 21, 188 4 560 29, 532 9 015 23,843 8 353 24, 686 5 915 21, 677 5,632 19, 038 5,229 73, 167 53, 068 38.41 95, 983 81, 272 67, 529 44,014 17.37 75, 161 73,690 95, 685 57,377 17 80 85, 494 84,271 75 575 113 044 112 854 179 843 158 833 120 352 117 535 98 426 55, 419 63,838 67,414 92,049 88, 255 81,031 70,745 59f976 22 70 35 30 31 85 17 06 17 44 17 55 18 56 28 57 77 798 87 401 88 752 115 783 120 613 125 935 132 539 113, 504 81,071 100,714 110,019 154,498 159,210 131, 646 128, 700 107, 226 91, 298 55,073 37.93 103, 751 90, 329 90, 617 54, 637 38.14 103, 108 95, 057 13, 630 24, 460 12, 603 10,989 12, 151 18,824 14,319 13,581 11,973 18,302 14,603 12, 269 13,744 17, 493 12,147 14,207 17,965 19, 113 9,804 15, 731 29,834 30, 117 7,490 18,249 37, 572 39,309 7,013 27,838 30, 646 37,706 9,497 31,843 24,017 30, 511 15,390 30,818 22, 340 27, 711 17, 963 24,758 23, 306 26, 325 22, 154 24, 481 39, 581 39, 810 16, 475 25, 733 39.0 33.0 27.0 18.0 27.0 37.0 42.0 52.0 46.0 55.0 59.0 42.0 18 0 5 7o 9 70 13 0 70 80 35 30 30 50 14.0 16 0 FURNITURE Household: All districts: 34.0 Plant operations * percent of normalGrand Bapids district: Orders: 12. 0 Canceled _. percent of new orders 5 New no of days' production Unfilled, end of month 6 no. of days' productionOutstanding accounts, end of month 20 no. of days' sales33.0 Plant operations t~ percent of normal.. 7 Shipments -.no. of days' production Southeastern district: Orders, unfilled, end of month dol., average per firm- 11,894 Shipments dol., average per firm 19, 698 Prices, wholesale: Beds 1926=10076.1 Dining-room chairs, set of 6 1926=100.. 91.0 87.5 Kitchen cabinets 1926=100— 79.4 Living-room davenports 1926 = 100 _ . Steel furniture. (See Iron and Steel Section.) Q Q 7 8 H 15 13 12 8 7 6 7 5 5 5 7 11 17 18 18 12 9 25 33.0 6 24 22.5 6 20 19.0 7 19 10.0 5 19 14.0 g 18 24.0 6 18 25.0 6 21 34.0 10 25 30.0 13 26 42.0 13 25 42.0 13 23 36.0 9 9,290 16, 277 20,448 25, 975 15,286 33, 660 14,298 30, 388 17, 259 35 962 38, 608 42 895 51, 109 44 313 96, 953 68 191 79,831 95 772 93,899 82,284 36, 943 76, 705 14, 147 41 660 63.9 89.5 91.4 69.8 62.1 89.5 87.5. 73.6 62.1 89.5 87.5 73.6 62.1 89.5 74.1 73.6 62.1 89.5 74.1 73.6 62.1 89.5 74.1 73.6 63.6 89.5 74.1 76.7 66.1 89.5 74.1 76.7 73.2 91.0 85.6 76.7 76.1 91.0 87.5 76.7 76.1 91.0 87.5 81. 7 76.1 91.0 87.5 79.4 METALS AND MANUFACTURES IRON AND STEEL Foreign trade, iron and steel: Exports § _ _ long tons 184, 585 54, 139 56, 720 63 936 80, 567 100 395 123 169 102 681 88 311 119 374 108, 823 164, 755 Imports* long tons 31,310 29,390 21, 892 19, 748 22, 114 28 061 26, 295 34,368 52, 805 46,839 55, 706 46, 673 Price, iron and steel composite .31.30 dol. per long ton- 32.42 28.93 28.69 30.04 31.59 28. 31 28.35 28.45 28.73 29.81 28.16 Sales, iron, steel, and heavy hardware 91 100 January 1921=100— 65 105 107 67 54 55 59 95 80 96 t Data for December 1932, March, June, August, and November 1933 are for 5 weeks; other months, 4 weeks. * New series. Earlier data on furniture activity, aL districts, not published. For imports of iron and steel see p. 20 of the November 1932 issue. § Data revised for 1932. For revisions see pp. 44 and 45 (lumber) and p. 45 (iron and steel) of the June 1933 issue. f Revised. Earlier data not published. 1 Data not computed for May 1933. 157, 600 28, 979 31. 59 93 46 SURVEY OF CURRENT BUSINESS 1933 Monthly statistics through December 1931, 1933 together with explanatory footnotes and references to the sources of the data, may be found Decem- Decemin the 1932 Annual Supplement to the Survey January ber ber February 1934 1933 Febru- ary March May April August SeptemOctober ber July June No m b™ - METALS AND MANUFACTURES—Continued IRON AND STEEL— Continued Ore Iron ore: Consumption by furnaces thous. of long tons. _ Imports - . . thous. of long tons. _ Receipts: Lake Erie ports and furnaces thous. of long tons. _ Other ports thous. of long tons— Shipments from mines. _ thous. of long tons— Stocks, total, end of month thous. of long tons__ At furnaces thous. of long tons Lake Erie docks.. _ thous. of long tons _ Manganese ore, imports (manganese content) 1 thous. of long tons.. Iron, Crude, and Semimanufactures Castings, malleable:* Orders, new . .. short tons _ Production short tons _ Percent of capacity > Shipments short tons.. Pig iron: Furnaces in blast, end of month: Capacity long tons per day . Number Prices, wholesale: Basic (valley furnace) __.dol. per long ton.. Composite pig iron... _dol. per long ton-Foundry, no. 2, northern (Pitts.) dol. per long ton._ Production thous. of long tons Iron, Manufactured Products Cast iron boilers and radiators: Boilers, gas-fired: Production - -thous. of B.t.u__ Shipments, quantity.. _. -thous. of B.t.u__ Shipments value - dollars Stocks, end of month ___ thous. of B.t.u.. Boilers, range: Orders: New number of boilers Unfilled, end of month, total number of boilers. _ Delivery, 30 days or less number of boilers. . Delivery, more than 30 days number of boilers. _ Production number of boilers. _ Shipments number of boilers. _ Stocks, end of month— .number of boilers.. Boilers, round: Production thous. of lb_. Shipments thous. of lb Stocks, end of month— thous. of lb.. Boilers, square: Production thous. of lb Shipments thous of lb Stocks, end of month thous. oflb_. Boiler fittings, cast iron: Production " short tons Shipments .short tons.Boiler fittings, malleable: Production - - short tons Shipments short tons Radiators: Production -thous. of sq. ft. heating surfaceShipments. -thous. of sq. ft. heating surface-Stocks, end of month thous. of sq. ft. heating surface. Radiators, convection type: * New orders: Heating elements only, without cabinets or grilles .thous. of sq. ft. heating surface #— Heating elements, including cabinets and grilles-.thous. of sq. ft. heating surface#-Sanitary Ware Bathroom accessories: t Production number of pieces Shipments number of pieces. . Stocks, end of month number of pieces.Plumbing brass. (See Nonferrous metals.) Plumbing and heating equipment, wholesale price (8 pieces)* ._ dollars.. Porcelain enameled flatware: Orders, new, total dollars.. Signs dollars. _ Table tops dollars Shipments, total dollars. _ Signs. _ dollars-Table tops dollars— 1,598 86 630 8 661 14 634 7 593 45 772 15 1,266 21 . 1,894 39 2,626 81 2,612 159 2,102 136 1,898 151 1, 460 107 20 0 6 0 0 0 0 0 0 0 0 0 0 0 0 9 28 83 448 353 901 887 343 1,281 2, 483 515 3,431 3,930 1,132 5,101 4,205 1,200 5,504 3,421 1,120 4,543 918 359 785 34, 673 29 346 5 327 31, 490 26, 328 5,162 30, 812 25, 680 5,132 30, 152 25 047 5,105 29, 557 24 486 5,071 28, 848 23 879 4,969 28, 314 23 407 4,907 27, 479 22 690 4,789 27, 772 22 980 4,792 30, 156 25 260 4,896 33,449 28,415 5,034 36, 345 31, 044 5,301 36, 200 30, 794 5,406 3 0 0 0 2 3 2 6 4 4 23 19 5 26 166 21 870 25 6 22, 310 14, 504 14, 128 16.2 14, 366 12, 645 12, 638 14.9 14, 315 11, 273 13, 780 16.2 14, 215 12, 508 9,959 11.4 11, 077 18, 449 18, 566 21.8 17, 261 24, 671 24 628 29.0 23, 077 31, 997 31 118 35 8 29, 268 28, 458 30, 865 36.3 29, 155 28, 323 31,811 36.6 30,195 22, 744 27, 078 31.6 25, 402 19, 933 24, 381 28.4 20, 422 <* 20, 830 « 21, 944 25.0 « 19, 676 35 505 75 15, 810 18, 820 18, 910 15, 580 22, 805 51 675 56 070 98 48,215 89 34, 410 48 33,160 63 39, 755 38 61, 435 45 79 76 17.00 17 94 13.50 14.69 13.50 14.68 13.50 14.68 13.50 14.68 13.50 14.75 14.20 15. 47 15.00 16.02 15.50 16.70 16.20 17.16 17.00 17.87 17.00 17.84 17.00 17.84 19.39 1 182 16.39 546 16.39 569 16.39 554 16.39 542 16.39 624 16.59 887 17.39 1 265 17.89 1,792 18.59 1 833 19. 39 1,522 19.39 1,356 19.39 1,085 9 207 42, 911 41 382 521 374 64 989 42, 662 38 243 528 238 48 454 42,169 26 543 559 851 20 837 29, 004 25 979 554 391 44 681 22, 918 20 025 583 037 308 757 170 384 43 857 70, 787 58 252 495, 150 52 737 61, 446 56 558 486 438 84, 667 95, 765 90, 566 473, 506 69, 680 93, 860 90, 742 449, 326 24, 813 47, 843 46, 783 426, 297 27 564 35 774 29 801 36 586 39 436 57 549 44 961 66 977 33, 443 29, 221 25, 669 34, 337 17, 158 6,947 6,264 5,061 4, 766 27 066 13, 083 42 8,073 45 6,016 6,247 4,967 8,872 a 70 88 53 549 265 444 934 059 92 998 35,974 90 44 66 49 518 24, 948 106 24, 734 6,051 5,639 3,586 4,146 3,289 7,397 34, 335 21, 863 21, 280 31, 206 15, 468 7,032 20, 103 24, 115 28, 561 2,434 29 375 27, 582 26, 195 2,430 39 991 37, 831 28,355 2,101 27 042 29, 570 25, 827 1,678 38 499 37, 866 25, 843 1,475 35 278 35, 531 25, 590 1,639 64 457 65, 896 24, 151 3,085 68 284 68, 575 23, 860 3,454 48, 762 45, 175 27, 447 3,131 60 398 57, 374 30, 471 1,690 51, 463 50, 622 31, 312 1,886 41, 786 39, 432 33, 666 1,498 25, 711 26, 352 33,025 3,414 3 156 35, 005 1,823 3 552 26, 863 2,035 2 102 24, 517 2,279 2 133 24, 736 1,811 1 772 24, 235 2,393 1 792 24, 927 3,242 2 403 26,063 3,870 4 159 26, 124 4,168 3 954 28, 335 5,408 4 357 29, 394 5,076 6,137 28, 548 5,820 9,374 25, 329 4,531 5, 500 24, 636 9 048 9 064 89,667 4 918 10 434 101,448 6 144 6 410 99, 032 7 602 5 567 100, 585 6 211 4 860 100, 409 9 613 4 465 105, 457 12 140 6 412 111,099 13 539 10 828 116, 938 14 848 12 124 122, 118 15 240 14 685 121, 451 15, 248 20, 509 117, 419 11, 336 24, 841 104, 835 10, 622 14, 622 100, 784 3 344 3 592 1 717 2 165 1 401 2 319 1 514 2 161 1 592 2 228 1 577 2,322 2 919 4 191 4 706 5* 464 4 417 6,072 6 025 5 640 4,430 4,575 4,991 4,965 4, 698 4,467 1 581 1 627 1 025 1 115 995 1 375 1 088 1 433 1 100 1 302 1 284 1 586 2 140 2 827 3 607 3 765 4 107 4 499 4 436 3 876 3,147 2, 667 2,839 2,206 2,184 1,680 1,655 2,870 3,236 3, 474 2,547 2,001 2,992 1,634 2,231 1,542 3,002 1,605 3,754 2,133 4,138 3,346 3,368 3,727 5; 355 4,354 4,326 5,173 3,273 6,076 2,989 4, 794 30, 029 27, 838 28,250 29,646 30, 417 31,992 33, 512 35,626 35, 346 36,317 35, 614 32, 926 31, 249 95 54 70 33 35 35 68 95 55 64 68 137 123 96 142 98 86 60 «128 241 160 173 173 163 172 160 94 141 165 401 88,297 165 238 361, 424 "532, 982 142 935 143 991 531, 916 121 070 129 670 521, 628 149 477 163 220 389, 392 142 164 144 612 391, 819 186 896 191 857 382, 858 176 775 183 550 379, 683 235 443 229 858 384, 068 263 940 276 601 371,407 227, 363 231,814 366, 956 348 414 357 964 357, 406 191 441 182 852 365,995 186. 40 182. 80 182. 00 182. 03 183. 93 197.50 203. 56 205. 78 215. 02 214. 96 209.82 346,459 "362, 866. 236, 234 173, 676 216, 931 87, 158 42 609 °46 970 48 685 439, 693 °390, 178 249, 817 257, 021 232, 611 101, 148 48, 538 °56, 394 48, 202 278, 361 102, 219 59 574 271,694 113,582 50, 424 344, 763 144, 615 75 177 324, 114 126, 671 72, 983 475. 156 195, 358 121 182 388, 115 148, 793 104, 820 493, 892 217, 813 91 861 504, 576 216,901 106, 946 653, 402 210, 228 191 979 556, 300 209, 375 116, 676 692, 240 236, 173 176 416 643/164 194, 766 183, 603 672, 671 236, 017 218 010 698, 452 239, 526 244, 588 638, 236 233, 255 166 039 620, 876 203,417 182, 013 609, 456 264, 384 82 274 618, 572 251, 120 97, 210 668, 426 446, 101 44 194 536, 450 219, 762 50, 208 204. 10 192.63 f Imports from Cuba not included. * New series. For earlier data, see p. 20 of the April 1933 issue (castings) and p. 20 of the January 1933 issue (price series). Earlier figures on convection type radiators not published. # In equivalent direct radiation. ta Revised series. For earlier data, see p. 20 of the October, 1933 issue. Revised. February 1934 47 SURVEY OF CURRENT BUSINESS 1933 Monthly statistics through December 1931, 1933 together with explanatory footnotes and references to the sources of the data, may be found Decem- Decemin the 1932 Annual Supplement to the Survey January ber ber 1933 February March April May June July October NovemAugust September ber METALS AND MANUFACTURES—Continued IEON ANB STEEL— Continued Sanitary Ware— Continued Porcelain plumbing fixtures: Orders: a Nfiw, TI fit TI umber of pieces 1,598 5,452 2 242 1,708 1 643 2,104 1,404 1 698 4 240 5 831 3 041 3 246 3 245 Unfilled, end of month. number of pieces.. 8,947 3, 124 2,884 2,.888 2,991 7, 214 6,201 2,776 3,430 4,362 5,481 « 9, 264 4,537 Shipments.. number of pieces — 1,562 1,833 1,442 1,399 1,936 3, 552 3,135 1,885 2,548 2,197 2 933 3,211 2,381 Stocks, end of month number of pieces 9 402 10, 071 13, 838 13,343 11,811 11, 490 11 339 9,509 10 076 11 345 11 184 9 716 10 635 Vitreous-china plumbing fixtures: Orders: New, net number of pieces 35 067 56, 687 80 283 77 531 118 697 245 024 296 264 207 230 133 608 180 379 103 475 46 981 31 370 Unfilled, end of month .number of pieces.. 80, 173 85, 480 79, 903 76, 802 99, 332 198, 787 307, 118 319, 503 241, 362 231,818 173, 019 120, 597 87, 768 Shipments. _ _ number of pieces 42, 662 57, 594 89, 395 80, 632 96, 167 145, 569 187 933 194 845 211 749 189 923 162, 274 99, 403 64, 199 Stocks, end of month number of pieces 579 227 518, 245 506 126 472 472 443 858 391 369 340 218 315 371 311 183 325 530 348 233 414 182 477 474 Steel: Crude and Semimanufactured Bars, steel, cold finished, shipments. short tons.. 42, 036 12, 759 13, 253 14, 196 8,726 16, 624 23, 132 32, 774 36, 538 46,312 35, 468 27, 877 21, 792 Castings, steel: Orders, new, total short tons.. 13, 283 12, 942 11,857 11, 458 22, 714 23, 608 14, 507 20, 782 32, 026 23, 444 29, 505 28, 962 Railroad specialties, „ __ short tons.. 2,680 2,784 3,088 6,240 2, 489 4, 692 6,518 3 642 7 976 3 974 6 828 7 562 9 9 8 Percent of capacity 8 16 14 16 16 22 10 20 20 13,886 13, 951 12, 438 13, 209 12, 071 19, 072 27, 300 29, 240 31, 157 25, 532 25, 459 Production, total short tons— 22, 615 2,721 Railroad specialties, _ short tons 5,025 2,753 2,259 3,285 2,806 5,978 4,433 3 470 6, 767 4 167 6 304 8 21 Percent of capacity 10 17 10 9 9 15 13 17 19 20 Ingots, steel: § 861 Production thous of long tons 910 2 112 1 820 1 030 1 087 « 2, 313 1 541 2 002 1 363 2 901 2 598 3 204 Percent of capacity . 15 41 16 18 21 49 27 33 37 34 25 46 59 Prices, wholesale: .0214 .0212 Composite, finished steel dol. per lb__ .0220 .0231 .0210 .0210 .0206 .0226 .0208 .0217 .0226 .0209 .0217 Steel billets, bessemer (Pittsburgh) dol. per long ton— 26.00 26.00 26.00 26.00 26.00 26.00 26.00 26.00 26.00 26.00 26.00 26. 00 26.00 Structural-steel beams (Pittsburgh) dol. perlb— .0160 .0160 . 0160 .0161 .0170 .0160 . 0170 .0170 .0160 .0160 .0160 .0160 .0160 9.84 Steel scrap (Chicago) dol. per gross ton.. 8.94 5. 25 5.25 5.25 5.25 10. 45 9.33 8.56 8.45 6.00 8.91 10.41 U.S. Steel Corporation: d 11,817 Earnings, net thous. of dol 5 537 d 3, 828 3 795 4 882 Shipments, finished products* long tons.. 600, 639 227, 576 285, 138 275, 929 256, 793 335, 321 455, 302 603, 937 701, 322 668, 155 575, 161 572, 897 430, 353 Steels Manufactured Products Barrels, steel: Orders, unfilled, end of month. _ _ _ _ . number.. 597, 453 330, 359 275, 354 453, 083 510, 737 526, 491 614, 214 641, 441 647, 924 534, 549 539, 846 492, 072 333, 443 Production number-- 556, 586 300, 570 292, 201 269, 755 373, 340 401, 086 465,418 572, 851 555, 404 480, 670 519, 191 798, 981 577,017 27 2 38 3 Percent of capacity 21 6 21 0 58 9 42 6 41 9 19 7 29 2 35 5 33 9 42 0 41 0 Shipments number 556 627 307, 372 292, 609 272 432 371 945 402 506 467 695 568 437 552 923 470 632 524, 719 789 474 582 299 Stocks, end of month number-- 37, 151 27, 160 26, 752 24, 075 25, 470 24, 050 21, 773 26 187 28 668 38, 706 33, 178 42, 685 37,403 Boilers, steel, new orders: 428 Area . _. thous. of sq. ft— 156 218 427 309 245 128 225 «287 994 396 611 550 a 195 a 236 447 Quantity number of boilers 215 395 328 197 328 176 511 296 511 498 Furniture, steel: Business group: Orders: 869 552 New thous. of dol— 589 800 544 419 449 837 865 964 447 686 607 819 Unfilled, end of month.. ..thous. of dol— 521 551 684 794 442 406 374 505 764 719 541 456 734 Shipments .. _ _ _ thous. of dol — 1 040 583 825 482 611 512 464 693 523 800 405 636 Shelving: Orders: 142 153 106 185 New ...thous. of dol— 142 194 288 172 117 191 178 159 180 Unfilled, end of month thous. of dol— 142 127 222 200 139 239 231 143 234 173 182 168 206 164 Shipments _ thous. of dol— 121 135 104 179 138 134 146 200 167 196 156 166 Safes: Orders: 102 93 i New thous of dol 84 112 125 120 98 117 100 129 84 136 118 192 Unfilled, end of month thous. of dol— 171 225 151 169 198 158 209 180 190 203 213 147 126 82 Shipments.—^. thous. of dol— 107 132 116 113 86 106 117 89 119 305 147 122 152 82 Lock washers, shipments thous. of dol— 72 65 59 118 170 90 114 168 156 118 Plate, fabricated steel, new orders, total 0 a short tons- 13, 692 11, 448 * 16, 706 " 8, 896 «9,719 9,510 17, 964 16, 243 37, 020 " 20, 391 16, 320 <* 16, 166 14, 466 Oil storage tanks ...short tons— 3,154 « 1, 718 1,033 2,581 1,434 2,160 1,270 2,858 20, 894 8,347 2,983 6,013 3, 734 Sheets, black, blue, galvanized, and full finished: Orders: New . short tons 110 263 76, 962 75, 615 80 550 83 295 118, 594 144 192 246 737 174 191 158, 830 145, 320 79 141 88 354 Unfilled, end of month ...short tons— 92 831 84, 390 77, 509 83, 760 91,993 111,311 136, 592 229 436 228, 696 212, 879 194,223 102, 262 94, 270 Production, total, . short tons 113 111 77, 489 85, 337 91, 723 64, 724 111,942 139, 696 166 272 188 143 203, 893 180, 304 146 106 102 585 62 8 22 7 25 9 Percent of capacity 27 8 19 6 55 5 51 2 34 5 45 0 43 1 58 0 34 9 31 6 Shipments. . _..__ short tons,. 111 867 67, 412 79, 234 72, 772 74, 880 100, 353 119, 159 152 953 174 145 174,480 163, 634 174, 829 99, 499 Stocks, end of month, total ..short tons- 101, 220 94,658 94, 783 100, 688 95, 606 91, 859 98, 991 104, 355 104, 815 115, 876 115, 183 105, 331 105, 950 Unsold stocks „ short tons 51 622 57, 413 54, 831 57 296 52 199 47, 815 51 295 50 067 42 095 51, 293 53 617 52 353 55 495 Tin and terne plate: * 82 200 195 Production . thous. of long tons— 80 85 88 145 194 188 175 94 188 186 3,425 1,822 Track work, production short tons. 1, 845 1 984 2 013 1,662 3,845 2 759 2 471 2 982 3 006 1 768 3 087 MACHINERY AND APPARATUS Air-conditioning equipment: 554 «412 412 913 873 Orders, new, total „ —thous. of dol— 802 350 794 345 830 760 580 747' 94 62 41 82 Air-washer group. thous. of dol— 93 60 64 124 80 144 50 106 66. 209 230 186 431 491 Fan group.,... —thous. of dol— 187 235 363 308 483 437 373 340. 97 231 399 287 141 118 103 213 Unit-heater group thous of dol 167 393 195 346 341 Electric overhead cranes: Orders: 21 12 13 39 43 77 New thous. of dol 120 33 81 39 159 43 94 220 189 196 349 319 228 177 303 Unfilled, end of month thous. of dol— 279 228 265 195 234 7 9 54 32 29 44 66 93 44 75 551 Shipments thous of dol 33 75 Electrical equipment. (SeeNonferrous metals.) Exports, machinery. (See Foreign Trade.) Foundry equipment: Orders: 9.8 19.4 68.4 16.1 56.3 18.6 48.8 45. 5 34.9 42.6 New 1922-24=10025.6 43.8 36. 6 50.4 35.3 24.8 13.3 58.5 60.0 35.8 32.0 31.7 Unfilled, end of month 1922-24 =10035.2 14.7 16.8 29.6 23.2 38.3 42. 1 37.4 24.7 14.6 19.7 49.7 41.5 38.2 55.1 ShiDments 1922-24=100— 24.5 38.3 §1 Series revised for 1932. For revisions, see p. 46 of the July 1933 issue. Deficit for quarter. " New series. For earlier data on tin and terneplate, see p. 20 of the December 1932 issue, and for U.S. Steel Corp. shipments, see p. 18 of the January, 1934 issue. • Revised. SURVEY OF CURRENT BUSINESS 48 1932 Monthly statistics through December 1931, 1933 together with explanatory footnotes and references to the sources of the data, may be found Decem- DecemFebruin the 1932 Annual Supplement to the Survey ber ber January ary February 1934 1933 March i April June May October NovemAugust September ber July METALS AND MANUFACTURES—Continued MACHINERY AND APPARATUS— Con. Fuel equipment: Oil burners: Orders: 1,694 1,956 New .„ . _no. of burners 3,371 779 Unfilled, end of month no of burners 646 311 3,074 Shipments no. of burners 1 827 2,019 7,812 7,813 7,534 Stocks, end of month _ _no. of burners Pulverized fuel equipment: Orders, new, central system: 1 0 0 0 Furnaces and kilns... no. of pulverizers ._ 0 0 2 Water-tube boilers. . .no. of pulverizers.. 0 Orders, new, unit system: 1 0 0 2 Fire-tube boilers no. of pulverizers _ 1 1 0 0 Furnaces and kilns... no. of pulverizers.. 8 0 10 2 Water-tube boilers,. .no. of pulverizers.. Stokers, mechanical, new orders: 521 715 251 Class 1 residential * number °309 Class 2, apartment and small com115 55 24 °28 mercial *_ _ _ number.. Class 3, general commercial and small 64 90 33 °31 commercial heaters *. number __ Class 4, large commercial: * 113 98 63 °59 Number .. 17, 967 18, 375 12,248 a 11,438 Horsepower . Machine tools: Orders: 36 126 32 15 New 1922-24=100— 178 45 49 Unfilled, end of month .1922-24= 100 35 69 32 26 27 Shipments 1922-24=100.. Pumps: Domestic, water, shipments: 12, 772 17, 819 18, 303 Pitcher, hand and windmill .units . 17,539 256 395 258 Power, horizontal type units— 269 Measuring and dispensing, shipments: Gasoline: 262 « 1, 269 1,144 965 Hand operated unitsPower _ . _ _- ... units.. 1,356 « 2, 943 a 3, 064 0 3, 222 Oil, grease, and other: Hand operated units- 3, 003 20,408 « 1 4, 752 14,918 342 355 Power units290 «403 Steam, power, and centrifugal: Orders: 545 New _ .thous. of dol— 359 424 277 1,051 1,526 Unfilled, end of month thous. of dol— 1,012 1,103 704 494 Shipments thous. of dol 310 318 196 182 Water-softening apparatus, shipments-units.. 208 190 2,631 2, 258 Water systems, shipments units— 3,533 2,908 Woodworking machinery: Orders: 11 8 Canceled thous. of dol.. 2 5 167 209 124 New thous. of dol 113 215 171 Unfilled, end of month thous. of dol— 187 179 Shipments: 143 159 Quantity -machines 100 104 243 Value thous of dol 175 111 98 2,878 615 2,574 7,162 2,755 526 2,844 7,526 3,562 67-5 3,413 7,815 4,694 1,480 3,889 7,632 6,212 1,487 6,205 7,487 10,314 3,100 8,701 7,486 11, 359 3,066 11, 393 8,235 9,156 2, 119 10, 103 8,408 4,169 1,710 4,578 9,030 0 0 1 3 5 0 0 0 0 0 0 0 0 0 4 0 0 0 0 0 0 0 1 3 1 1 3 4 5 11 0 2 9 3 3 11 2 2 23 3 1 7 0 0 15 220 357 °490 668 1,199 2,102 18 «9 19 18 83 98 188 «208 «150 22 15 42 49 81 136 142 «209 101 84 16, 550 57 13, 599 93 23, 212 187 32, 723 170 41,249 213 40, 644 «162 °176 29,042 « 25, 464 168 29, 891 13 28 22 16 27 20 28 33 23 40 40 31 54 59 36 57 74 39 56 86 43 67 105 52 83 116 63 19, 073 303 22, 778 350 30, 755 496 39, 291 578 44, 036 524 42, 713 509 34 051 396 24 468 504 20 178 427 2,450 6,089 2,038 6, 940 1,464 6,733 1,190 5,197 851 3 683 379 1 751 274 1 103 32,849 « 25, 024 497 °501 20, 702 646 15,621 774 10,588 1, 005 7,889 916 6,517 683 a 252 1,418 4,048 0 1, 964 4,925 0 a 1, 896 0 1, 048 15,651 367 20, 958 576 404 1,066 434 171 2,778 466 1,093 435 167 3,706 511 1,126 474 215 5,605 736 1,261 597 232 6,358 732 1,475 517 197 7,560 786 1,616 642 232 7,563 771 1,775 609 329 6 084 638 1,798 608 227 4 378 607 1,714 687 200 3 045 97 201 2 138 205 3 272 290 8 389 341 5 370 369 1 333 346 6 309 306 8 240 262 26 214 256 63 81 82 132 149 191 275 316 228 322 219 337 238 337 202 273 131 192 10, 974 4,807 18, 345 12 944 12, 732 8 304 16 262 21 636 13 633 .2290 .0400 .2290 .0416 .2290 . 0548 .2290 ,0675 .2290 . 0663 .2290 .0738 . 2290 .0738 .2290 .0738 .2290 .0738 1,135 193 942 1,544 274 1,270 2,111 325 1,786 2,328 450 1,878 2,485 544 1, 941 2,754 694 2,060 2,419 615 1,804 2,091 536 1,555 1,964 357 1,606 12, 139 8,563 8 548 .0501 10, 644 7, 214 5 423 .0540 10, 976 11, 120 9 889 .0670 12, 575 12, 305 10 445 . 0777 12, 592 14 644 14 642 .0864 12, 955 14 335 14 319 . 0877 12 127 17 403 17 343 .0875 10 733 8* 164 8 164 .0795 13 108 15* 338 15 334 .0788 24, 037 2,298 17, 835 2,552 17, 673 2,772 17 502 3,807 17 877 2,908 21 958 4,093 26 369 5,333 29 847 3,495 28 941 2,224 674 65 .0450 .0450 18 611 28 021 36 054 29 129 160* 211 166 201 645 .0431 35 399 33 314 00 NONFERROUS METALS AND PRODUCTS Metals Aluminum: Imports, bauxite ._ long tons 7,958 9,546 10, 777 11, 176 Wholesale prices: No. 1, virgin, 98-99, N.Y .dol. per lb__ .2290 .2290 .2290 .2290 Scrap, cast, N.Y dol. perlb— .0788 .0400 .0400 .0400 Babbitt metal: Production, total thous. of lb._ 1,459 1,149 1,346 1,178 For own use... ..thous. of Ib _ 416 326 272 260 Sales. -_ thous. of Ib— 824 1,043 1,074 918 Copper: Exports, refined§ short tons _ 16, 187 9,826 12, 567 12, 515 Imports, total§ short tons 18, 290 10, 301 8,768 8 004 Ore and blister short tons 9,604 18 287 8 187 8 004 Price, electrolytic, N.Y _dol. perlb- .0789 .0481 .0478 .0478 Qold. (See Finance.) Lead: Ore: Receipts in U.S. ore .short tons . 27, 471 25, 465 22,580 22 299 Shipments, Joplin district short tons.. 1,590 2,298 1,887 1,915 Refined: Imports . _ short tons 1 732 480 2 531 200 Price, pig, desilverized, N.Y,..dol. per Ib— .0414 .0300 .0300 .0300 Production short tons 36 649 21, 173 24 615 20 033 Shipments, reported. . short tons 24, 089 19 030 17 349 26 034 Stocks, end of month short tons 203 061 176 157 184 693 189 751 Silver. (See Finance.) Tin: Consumption in manufacture of tin and terneplate * long tons 1 300 1 360 1 400 Deliveries _ long tons 2 645 3*725 3 130 3 045 Imports, bars, blocks, etc. long tons 4 425 3,786 2,802 2 262 Price, Straits, N.Y dol. per Ib.. .5287 .2269 .2270 .2350 Stocks, end of month: World, visible supply long tons- 23, 812 45, 796 44,223 43, 160 United States long tons.. 7.504 4.496 3.461 2.741 * New series. For earlier data see p. 19 of the January 1933 issue (stokers) and p. § Data for 1932 revised. For revisions see p. 48 of the June 1933 issue. ° Revised. 20 66 183 .0315 .0326 .0365 24 684 23 385 19 405 21 950 25 378 28 197 194 251 196 827 197 109 1 310 3 330 2,830 .2434 1 460 4 555 4 274 .2715 2 260 4 835 5 725 .3591 518 58 .0417 .0445 21 783 18 526 34 825 45 177 193 005 171 275 3 020 6* 145 6 839 .4421 2 920 6*540 8 449 .4638 3 110 8 020 9 177 .4474 43, 528 42, 541 41,883 39, 964 38,043 2.281 2.040 3. 03fi 3. 474 4. JUQ 20 of December 1932 issue (tin consumption). 33, 534 5. 78S q nqn m 933 .0429 4KQ a go 7^9 791 a 107 Q14. 9 Q9ft 6 035 6 895 .4792 9 SSfi q qKft 3 335 30, 162 27, 940 fi fire* fi fifij. 26,075 5 105 5 885 .4665 .5307 fl 7fiQ February 1934 49 SURVEY OF CURRENT BUSINESS 1932 Monthly statistics through December 1931, 1933 together with explanatory footnotes and references to the sources of the data, may be found Decem- Decemin the 1932 Annual Supplement to the Survey January ber ber 1933 Febru- ary March May April June July August Septem- October November ber METALS AND MANUFACTURES—Continued NONFERROUS METALS AND PRODUCTS-Continued ZincMetals— Continued Ore, Joplin district: Shipments short tons 28, 255 Stocks, end of month _ short tons12, 000 Price, slab, prime, western (St. Louis) dol. per lb— .0446 Production, total (prirnarv) short tons... 32, 004 27,190 Retorts in operation, end of mo number. Shipments, total short tons 28, 517 Domestic .. ..short tons. _ 28, 495 Stocks, refinery, end of month. ...short tons.. 104, 710 Electrical Equipment Conduit, nonmetallic, shipments.. thous. of ft— 814 Delinquent accounts, electrical trade. (See Domestic trade.) 829 Furnaces, electric, new orders. kilowatts.. Electrical goods, new orders t (quarterly) thous. of dol— 88,765 Laminated phenolic products, shipments Mica, manufactured: dollars- 438, 483 Orders, unfilled, end of month 124 thous. of dol— 120 Shipments— thous. of doL. Motors (direct current): Billings (shipments) _ _. dollars— Orders, new — _ dollars Panelboards and cabinets, shipments 205 thous. of dol— Porcelain, electrical, shipments: Special dollars- 42, 433 Standard dollars.. 14, 657 173 Power cables, shipments.—— thous. of ft— Power switching equipment, new orders: Indoor . ._ __ . dollars-- 31, 347 Outdoor. —dollars.. 39,083 Radiators, convection type. (See Iron and steel.) Reflectors, industrial, sales. units.. 53,768 Vacuum cleaners, shipments.. .number. _ Vulcanized fiber: 1,591 Consumption ___._ -thous. of lb— 313 Shipments.— thous. of dol— Welding sets, new orders: 4 Multiple operator __ units.. 306 Single operator — units.. Miscellaneous Products Brass and bronze (ingots and billets) : Deliveries . net tons— Orders, unfilled, end of month.. ... net tons— Brass, plumbing: Shipments* number of pieces Brass sheets, wholesale price, mill. dol. per lb— Copper, wire cloth: Orders: Make and hold-over, end of month thous. of sq. ft— New thous. of sq ft Unfilled, end of month thous. of sq. ft— Production thous. of sq. ft— Shipments —.thous. of sq. ft.. Stocks, end of month thous. of sq. ft.. Fire-extinguishing equipment. (See automobiles.) 30 875 24, 515 22 262 18,343 10 976 19 987 19 830 17 167 13 869 18 108 20 456 15 232 22 111 14 621 26 605 10 496 28 952 14 064 24 637 13 787 19, 08$ 15, 514 .0312 . 0302 IS 653 18, 867 21,023 22, 660 15, 745 15, 162 15, 725 15, 122 124, 856 128, 561 .0267 19, 661 23, 389 14 865 14, 865 133,357 .0299 21 808 22, 375 15 869 15 869 139, 296 .0330 21, 467 22, 405 19 399 19, 354 141, 364 .0381 21 516 23, 569 27 329 27 329 135, 551 .0435 23 987 24, 404 36 647 36 603 122, 891 .0488 30 865 25,836 45 599 45 577 108, 157 .0492 33 510 27, 220 42 403 42 381 99, 264 .0470 33 279 25, 416 34 279 34 279 98, 264 .0475 35 141 26, 820 37, 981 37, 937 95, 424 .0452 32,582 28, 142 26, 783 26,783 101,223 2,609 2, 194 2,803 1, 293 1,069 783 936 1 452 23,, 948 37, 500 1,045 1,341 1,622 846 1,091 2,303 334 205 247 211 2 157 688 325, 004 299, 259 294, 230 311,439 391,055 560, 582 622, 979 578,503 608, 788 45 56 46 58 29 50 28 48 34 53 42 76 122 90 148 118 186, 285 133, 950 108,871 83 679 136, 566 168 266 150, 571 141 313 128, 786 118 359 231, 210 158 094 213, 167 265 054 219,601 376 758 62,912 57, 897 1 357 1, 252 664 981 585,454 561,984 493, 125 124 130 136 106 157 111 107 100 289, 101 453 476 255, 170 253 015 238, 047 272, 973 295, 298 283, 037 98,609 79, 856 173 191 146 137 130 157 204 165 167 148 162 «191 29,007 11, 450 282 20, 310 14, 721 254 27, 897 15, 770 439 38, 311 17, 188 285 25, 722 17, 197 288 34, 813 21, 181 246 43, 733 45, 781 412 45, 922 30, 498 245 59, 120 47, 342 344 53, 046 37,186 313 59, 028 25, 118 404 51, 736 23, 738 312 17, 703 58, 618 19, 799 42, 173 25 096 33, 784 10 812 36, 482 17 356 74, 979 23 161 35, 936 23 506 50, 527 26 000 65, 354 27 613 65, 875 27 911 81, 635 28, 619 47, 550 27, 178 38,321 29,699 38, 727 27,668 28, 462 25, 952 30 106 25, 381 43, 340 30, 223 37 934 32, 142 41 661 38,970 44 531 46, 453 35 000 49, 945 43 916 50,484 61, 340 59, 451 59, 246 47, 770 62,000 948 876 188 204 811 874 864 192 187 206 2 032 '434 1 948 446 1 963 412 1,876 406 1,798 353 1 101 3 39 2 39 1 57 1 70 2 94 0 156 2 200 6 143 0 147 0 141 9 176 2, 145 14, 447 1,492 16, 373 1,261 15,934 1,421 14,952 1,586 15, 991 2,274 16,408 3,804 16, 712 4,973 16, 568 5 601 15, 657 5 027 14, 664 4, 386 14,065 3,764 13,678 2, 663 13,465 .139 446, 608 .125 493, 477 .110 585 775 .110 563 671 .110 664 573 1 007 966 1 291 9941 112 0131 060 739 844 606 .115 .122 .133 .148 .147 .140 695, 863 .148 526, 883 .148 93 249 460 364 339 698 507 249 130 253 227 921 487 275 106 241 257 868 518 257 110 220 220 863 97 325 568 391 351 657 . 542 317 118 267 265 832 1 357 285 549 281 102 256 238 845 1 964 404 272 379 735 400 477 738 289 491 729 444 492 682 249 362 657 460 466 680 107 316 603 459 489 636 533 428 665 942 723 440 577 307 192 32 345 134* 884 65 919 68, 965 139 963 194 641 298 680 31 261 143 912 74 397 69* 515 123 507 192 338 303 620 32 637 147 783 67 770 80, 013 123 200 191 019 267 28 144 54 90 94 218 1.64 269 166 30 365 120 309 81 077 39, 232 118 492 1.75 309 065 33 039 134, 934 65 202 69, 732 141 092 1.79 303 195 31* 834 146 480 78 395 68 085 124 881 1.91 306 576 33*000 150, 253 68 524 81, 729 123 323 1.95 275 405 28 831 149 809 57 155 92 654 96 765 543 642 406 294 305 829 510 484 648 458 457 802 235 820 31 918 100 035 57 383 42, 652 103 867 137 206 271 31 120 79 40 119 178 1.55 248 535 31 508 111, 148 54 237 56, 911 105 879 29, 634 2,588 22, 772 7,614 6,180 4,024 PAPER AND PRINTING WOOD PULP Chemical: Consumption and shipments, total 1 short tons Soda short tons Sulphite total. short tons.. B leached _ short tons Unbleached. short tons.. Sulphate short tons Imports § short tons.. 158, 743 Price, wholesale, sulphite, unbleached dol. per 100 lb1.95 Production, total ^ short tons Soda . short tons Sulphite, total ^short tons.. Bleached — short tons Unbleached short tons.. Sulphate short tons Stocks, end of month, total short tons.. Soda short tons.. Sulphite, total short tons.. Bleached short tons . Unbleached short tons. _ Sulphate . .. short tons Other grades short tons.. 187, 038 207, 860 214, 511 227, 811 224 020 19, 105 28 464 27 751 28 252 26 758 88,111 98, 471 104, 518 115, 860 107, 799 45, 986 42, 125 79, 822 146, 289 49, 902 48, 569 80, 925 138, 971 55, 016 49, 502 82, 242 98, 431 61, 842 54, 018 83, 699 78, 921 55 035 52, 764 89 463 62, 409 223 871 26 764 97 924 52 947 44, 977 99 183 82, 176 1.53 186, 008 19, 201 86, 468 44, 701 41, 767 80, 339 28, 624 3,318 20,464 5,166 5,268 3, 822 1.53 203, 763 24, 762 96,001 48 355 47, 646 83,000 54, 536 2,840 46,744 23, 116 13, 602 4, 510 1.53 205 603 24, 738 101, 173 51 225 49, 948 79, 692 50, 206 2,368 43, 758 20, 038 14, 996 3, 658 1.53 219 468 25, 876 108, 446 56, 374 52, 072 85, 146 47, 352 2,492 40, 210 15, 652 14, 990 4,156 1.53 222 536 25, 928 107, 679 53 484 54, 195 88 929 39,830 3,304 32, 280 14, 332 8,780 3,990 1.53 241 284 28, 592 115, 644 49 622 66, 022 97 048 33, 186 2,920 26, 598 10, 770 6,712 3,216 510 442 422 494 256 452 250 * New series. Data prior to July 1931 not published. § Data revised for 1932. For revisions 1932 see p. 49 of the June 1933 issue. ° Revised, t Revised series. For earlier data see p. 19 of the August 1933 Issue. H Series revised. For earlier data see pp. 18,19, and 20 of the November 1933 issue. 383 081 472 412 060 830 833 50 SURVEY OF CURRENT BUSINESS Monthly statistics through December 1931, 1933 1933 together with explanatory footnotes and references to the sources of the data, may be found Decem- January Februin the 1932 Annual Supplement to the Survey December ber ary February 1934 1933 March April June July 127, 749 18, 684 125, 737 59, 218 113, 215 23,612 105, 316 May October NovemAugust September ber PAPER AND PRINTING—Continued WOOD PULP— Continued Mechanical (ground wood) : J Consumption and shipments Imports Production Stocks, end of month short tons short tons. _ 15,943 short tons short tons PAPER Total paper: Production 1 short tons Percent of capacity Shipments ^ short tons Stocks, end of month short tons Book paper: Orders, new: Coated percent of normal production.. Uncoated.. per cent of normal production ._ Orders, unfilled: Coated _ number of days' production Uncoated number of days' production-Production f short tons Percent of capacity Shipments f short tons Stocks, end of monthshort tons Newsprint: Canada: Exports _ short tons Production short tons Shipments from mills- short tons Stocks, at mills, end of month-short tons.. United States: Consumption by publishers. -.short tons.. Imports _ short tons Price, rolls, contract, destination, N.Y. basis _ _ dol. per short ton Production, total. ,.short tons Shipments from mills short tons Stocks, end of month: At mills short tons At publishers—. short tons.. In transit to publishers short tons.. Paper board:* Production short tons Shipments short tons.. Box board:§ Consumption, waster paper short tons— Orders: New _ short tons Unfilled, end of month _. short tons Production short tons Operations, percent of capacity Shipments.— short tons Stocks, end of month .short tons.. Stocks of waste paper, end of month: At mills short tons.. In transit and unshipped purchases short tons Writing (fine) paper: Production! . _ short tons Percent of capacity. Shipments! short tonsStocks, end of month. _ _ — .short tons Wrapping paper: Production! . _ short tons Percent of capacity Shipments! short tons— Stocks, end of month short tons All other grades: Production! short tons— Shipments! _ _ short tons Stocks, end of month .short tons 99, 726 24, 909 92, 083 102, 654 30, 966 103, 274 108, 456 25, 912 108, 024 574, 844 582, 455 628, 308 671, 477 741, 783 710, 423 882, 575 923, 842 925, 347 852, 366 52 53 58 567, 875 586, 397 627, 210 670, 488 757, 316 697, 481 901, 733 941, 341 921, 401 854, 959 363, 962 349, 389 797, 014 785, 374 789, 048 754, 153 52 63 96, 072 17, 403 95, 101 57, 531 89, 860 8,210 86, 905 52, 028 86, 453 5,594 83,854 49, 820 92, 403 9,064 90, 591 48, 105 97, 337 7,949 103, 002 53, 172 106, 393 18, 084 113, 789 60, 303 116, 275 21, 354 103, 540 50 59 36 43 43 51 43 51 46 60 49 47 53 60 56 73 52 59 61 70 52 68 53 58 7 7 3 4 75, 392 59 74, 630 78, 294 4 4 77, 094 58 81, 103 70, 778 4 3 80, 486 64 78, 796 74, 671 3 5 79, 689 66 77, 537 77, 210 4 4 76,183 49 77, 326 75, 820 5 6 79, 799 55 64, 797 80,900 6 10 89, 659 63 87, 687 83, 327 6 8 92, 060 7 10 98, 842 7 9 99, 746 6 6 90, 708 5 7, 90, 534 97,860 98, 644 100, 943 89, 710 88, 271 185, 637 136, 993 127, 779 175, 304 «144, 937 140, 539 172, 285 "147, 025 133, 056 33, 847 «42, 354 49, 837 107, 446 124, 788 120, 094 54, 515 138, 005 113, 139 168, 719 152, 152 167, 303 165, 880 137, 078 148, 377 «170,247 •171, 630 180, 387 196, 036 140, 694 «162, 040 "163, 991 171, 889 •181, 658 «196, 136 43, 428 43, 068 41, 826 50,872 37, 232 41, 963 177, 806 171, 947 179, 655 "188, 827 183, 994 187, 734 38,415 37, 237 162, 293 «204, 136 "211,520 30, 858 148, 427 168, 787 116, 307 94, 908 123, 402 114, 500 132, 032 139, 213 160, 773 157, 314 130, 879 142, 700 132, 482 163, 433 127, 837 151, 210 134, 306 177, 750 152, 098 175, 711 154, 934 176, 766 45.00 74, 356 72, 637 45.00 67, 665 66, 884 45.00 76, 521 77, 933 40.00 74, 534 76, 085 40.00 81, 181 78, 861 40.00 81, 939 84, 970 40. 00 79,616 82, 145 40.00 87, 957 86, 077 40.00 72, 091 74, 139 40.00 82, 052 81, 580 40.00 87, 567 86, 829 21, 783 23, 502 172, 272 166, 954 24, 171 24, 601 23, 363 157, 489 27, 347 23, 005 149, 971 23, 691 21, 171 139,637 27, 066 23, 560 137, 451 24, 290 21, 964 135, 342 24, 051 19,378 157, 118 26, 278 21, 407 171, Oil 30, 934 19, 152 177, 732 34, 214 18,991 178, 159 36, 679 19, 676 184, 875 40, 746 224, 214 243, 489 222, 280 243, 246 263, 940 265, 524 290, 678 289, 225 295, 038 295, 923 322, 108 327, 906 382, 002 390, 788 364, 253 368, 624 368, 464 371, 043 349, 903 349, 553 301, 868 307, 000 292, 741 276, 348 132, 761 127, 446 135, 430 130, 917 40.00 45.00 80, 895 "80, 702 82, 031 «79, 629 18, 566 199, 845 37, 557 109, 393 123, 019 135, 442 157, 707 200,443 187, 731 188, 136 209, 856 172, 351 146, 006 131, 062 207, 214 36, 065 205, 326 52.3 149, 743 80, 925 207, 705 38, 505 205, 871 58.8 158, 993 77, 778 250, 480 53, 542 237, 536 54.9 181, 796 77, 902 236, 022 70, 099 223, 845 58.2 174, 914 78,827 294, 460 76, 719 287, 032 68.7 221, 612 76, 953 349, 650 144, 307 292,967 76. 2 260, 101 66,932 268, 546 128, 638 283, 272 79.0 246, 994 66, 371 307, 321 118,298 312, 747 77.3 252, 036 63, 965 238, 771 105, 423 252, 452 70.7 226, 336 «65, 110 185, 026 62,177 228, 416 60.1 191, 989 "63, 315 199,059 55,080 206, 933 54.1 175, 148 72, 463 100, 976 89, 023 85, 344 95, 309 77,364 69, 780 67, 210 73, 281 96, 071 107, 449 123,619 20, 239 27, 551 22, 519 27, 331 31, 511 25, 607 23,688 21, 747 20, 155 15, 224 30, 143 28, 389 42 28, 514 50, 063 32, 946 49 34, 494 50, 099 34, 262 53 34, 639 48, 984 37, 455 59 37, 343 48, 965 32, 848 49 34, 556 47, 548 42, 820 63 34, 737 49, 176 52, 552 79 50, 292 50,894 52, 537 83 52, 274 53, 943 78 53, 727 42, 767 76 41, 441 46, 636 70 43, 232 40, 958 61 38, 378 84, 189 57 82, 370 59, 554 92, 969 62 92, 783 57, 240 91, 417 63 91, 691 57, 596 121, 169 65 123, 835 56, 307 132, 438 72 136,808 54, 405 123, 556 83 125, 409 53, 314 149, 524 99 163, 579 46, 502 152, 334 106 153,857 160, 982 105 161, 143 140, 334 98 136, 826 129, 658 89 123, 045 109, 742 75 109, 303 79, 610 78, 145 78, 095 58, 835 59, 423 71, 297 85, 291 84, 523 72, 135 65, 852 64, 535 74, 912 124, 657 130, 391 73, 394 62, 068 61, 882 73, 371 122, 264 119, 696 71,591 179, 788' 183, 204 153, 973 149,662 143, 470 147, 918 142, 792 141, 221 160,313 151, 496 - PAPER PRODUCTS Abrasive paper and cloth, shipments: Domestic reams.. 29, 581 28, 125 37, 648 35, 878 32, 412 40, 468 53, 187 60, 549 59, 784 67, 442 61, 656 80, 366 Foreign. . reams 11, 733 7, 823 4,412 6,699 6, 522 6,832 8,984 6,829 5,478 6, 739 7,675 6,945 Paper board shipping boxes: Operating time, total.— percent of normal __ 56 71 81 58 56 60 58 65 80 88 90 91 Corrugated percent of normal 63 62 78 62 87 65 61 93 71 86 97 100' Solid fiber percent of normal 37 - 44 64 47 72 49 39 43 47 60 70 65 Production, total... _ _thous. of sq. ft__ 378, 189 361, 871 376, 200 398, 014 380, 452 460, 970 565, 471 626, 415 631, 484 600, 157 566, 267 493, 888 Corrugated thous. of sq. ft— 303, 101 306, 447 314, 084 329, 133 306, 667 385, 117 463, 567 499, 226 513, 490 481, 396 452, 869 395, 814 Solid fiber thous. of sq. ft— 75,088 55, 424 62, 116 68, 881 73, 785 75, 853 101, 904 127, 189 117, 994 118, 761 113, 398 98, 074 Hope paper sacks shipments* 1930-31=100 112 120 124 102 106 112 81 95 44,595 8,972 63 70 40 422, 365 335, 551 86, 814 PRINTING Blank forms, new orders thous. of sets.. 60, 083 Book publication, total. ^number of editions. _ 882 New books number of editions 764 New editions . number of editions" 118 Operations (productive capacity) .__1923= 100 . Sales books: Orders, new. _ _ thous of books 11, 201 Shipments thous of books 9,668 50, 350 875 707 168 66 46, 602 457 390 67 66 45, 053 679 576 103 70 53, 337 766 621 145 62 46, 508 805 637 168 62 59, 226 530 477 53 67 82, 156 511 416 95 63 72, 099 660 554 106 63 94, 244 572 491 81 64 60, 009 824 699 125 68 69, 318 754 643 111 71 69,329 652 545 107 74 7,645 9,068 9,735 7,920 7,907 7,653 7,399 8,048 9,902 8,570 10, 380 9,572 12, 934 11, 162 13, 078 11, 097 13, 364 11, 950 10, 958 10, 483 9,697 11, 627 9,341 10, 538 0 Revised. . J Series revised. For earlier data see pp. 18, 19, and 20 of the November 1933 issue. New series. Earlier data not published (rope paper sacks). See p. 19 of the December 1933 issue (paper board). T Data revised. See pp. 19 and 20 of the December 1933 issue for earlier data. § Earlier data on box board not available. .February 1934 51 SURVEY OF CURRENT BUSINESS 1933 Monthly statistics through December 1981, 1933 together with explanatory footnotes and references to the sources of the data, may be found Decem- Decemin the 1932 Annual Supplement to the Survey January Februber ary ber 1933 March April May June July August SeptemOctober ber N ™T RUBBER AND RUBBER PRODUCTS CRUDE AND SCRAP RUBBER Crude: Consumption, total ... long tons__ For tires long tons. Imports, total, including latex§_-_long tonsPrice, wholesale, smoked sheets, N.Y. dol. per lb._ Shipments, world 7 long tons Stocks, world, end of monthf long tons.. Afloat, total long tons For United States - . long tonsLondon and Liverpool long tons _ British Malaya long tons United Statesf . long tons-. Reclaimed rubber: Consumption .. long tons Production long tons Stocks, end of month long tonsScrap rubber: Consumption by reclaimers long tons 25, 306 40, 751 15, 631 7,408 32, 016 19, 928 10, 376 30, 663 18, 825 9,587 22, 969 15, 701 8,179 28, 475 22, 817 13, 555 21, 034 38, 785 22, 337 26, 736 44,654 26, 075 23, 504 43, 660 24 751 45, 243 39, 097 21, 772 45,413 31, 047 17, 173 46, 255 .088 80, 000 645, 000 97, 508 69, 508 86, 505 87, 000 374, 000 .033 56, 700 621,078 71, 147 51, 147 91, 121 77, 024 379, 000 .033 59, 000 614, 851 60, 674 40, 674 89, 267 74, 590 385, 354 .029 54, 500 618, 299 65, 123 41, 123 92, 153 71, 677 386, 686 .030 56 900 622, 142 60 914 36, 914 94, 658 67 583 395, 987 .036 55, 000 617, 490 65 431 38, 431 95, 151 66, 911 389, 997 .049 57 000 620, 586 81 177 54, 177 98, 609 70, 489 370, 311 .061 62 000 632, 565 106 510 79 510 102, 511 82 331 341, 213 ,078 74 000 619, 752 96 794 71, 794 99, 906 88, 199 334, 853 .073 75, 462 603, 711 88 355 66, 355 96, 661 85, 573 333, 122 .073 74 000 619, 019 97 468 71, 568 95,022 85, 207 341, 322 4, 404 8,966 13,692 3,135 5 345 10, 794 3,560 4 983 10, 733 3, 229 4 303 10, 936 2,556 3 617 10,227 3,261 4 340 9,484 5,750 7 864 9, 065 7,159 9 956 8,733 7,642 11 326 9,311 6,990 11 005 9,924 5, 818 9,809 10, 473 19, 512 14, 132 27 800 27, 758 15, 274 46, 034 25, 371 13,436 41, 821 .076 .086 84 000 «78 111 624, 516 « 635, 893 100, 210 «99 425 71, 425 73, 210 89j 766 a 87, 984 81,758 a «85 231 352, 782 363, 253 5,337 8 898 11, 713 4,688 8, 519 12, 652 2,743 2,030 1, 943 6,769 2,432 1,758 1,686 7,397 12 11 37, 638 TIRES AND TUBES Pneumatic casings : Production thousands Shipments total thousands Domestic thousands Stocks end of month thousands Solid and cushion tires: Production thousands Shipments, total thousands-Domestic thousands _ Stocks end of month thousands Inner tubes: Production thousands Shipments, total thousands Domestic thousands Stocks end of month thousands Kaw material consumed: Fabrics thous. of lb_. Crude rubber. (See Crude rubber.) 1,585 1,455 1,405 6 115 1,806 2,077 2,011 5, 789 7 5 5 2,499 2,923 2,874 5,419 4,151 4,144 4,077 5,408 7 7 7 6 8 7 1, 871 1,834 1,764 5, 902 1,630 1 674 1,616 5 832 6 7 7 7 8 1-7 4,880 5 044 4,320 5 292 4,571 4,398 4,324 5,475 9 15 9 9 15 15 14 14 13 3,995 3,766 3,674 5,656 3,199 2,803 2,714 6 076 16 15 13 13 14 13 11 11 9 8 24 22 21 21 20 21 20 21 24 24 26 28 1,423 1,379 1 348 5,400 1,675 2,028 1,989 4,957 1,779 1,682 1,646 5,085 1 506 1,522 1 486 5,095 2,282 2,441 2 410 4,951 3 760 3,571 3 530 5,105 4 358 4,622 4 575 4,878 4,482 4,169 4,110 5,152 3 933 3,750 3 685 5,303 3 070 2,778 2 719 5,607 2,805 2,141 2,079 6, 265 2,290 1,682 1,636 6,900 5,993 7,899 7,263 6,364 10,460 16, 778 19, 553 18, 709 16, 821 13,592 11,116 10, 447 MISCELLANEOUS PRODUCTS Rubber bands shipments thous of Ib Rubber clothing, calendered: Orders net number of coats and sundries Production number of coats and sundries Rubber-proofed fabrics, production, total thous of yd 306 Auto fabrics thous. of yd,. Raincoat fabrics _-._-,. thous. of yd-. """"21l" Rubber flooring, shipments.. .thous. of sq. ft-,, Rubber and canvas footwear: Production total thous. of pairs Tennis thous. of pairs Waterproof thous of pairs Shipments, total thous of pairs Tennis thous. of pairs Waterproof thous of pairs Shipments domestic total thous of pairs Tennis thous of pairs \Vaterproof thous of pairs Stocks total end of month thous of pairs Tennis thous of pairs Waterproof thous of pairs Rubber heels: Production thous of pairs Shipments total* thous of pairs Export thous of pairs Repair trade . thous. of pairs- _ Shoe manufactures. thous. of pairs-Stocks end of month thous of pairs Rubber soles: Production thous of pairs Shipments, total* thous of pairs Export —. . thous. of pairs _ Repair trade thous. of pairs Sho8 manufactures thous of pairs Stocks, end of month.-thous. of pairsMechanical rubber goods, shipments: Total . thous. ofdoLBelting _ -thous. of dol . Hose thous. of dol Other... „.„ thous. of doL_ 138 189 167 162 191 247 313 307 260 208 188 185 6 827 25 759 11, 574 24 409 7,327 16 330 8 058 20 997 8,037 14 227 9,808 19 392 11 756 35 873 10, 550 38 451 21 525 41 610 27 948 37 371 23, 526 41 612 14, 878 38 342 1 772 234 707 252 2,052 221 799 188 2,146 243 616 269 2 303 134 953 307 2,988 241 1,275 218 4,891 467 2,321 365 6,139 603 3,195 310 5,992 584 3,301 255 5,136 466 2,791 319 3 948 375 2,483 252 3,740 317 2,393 329 2, 458 318 1,165 268 4 782 1, 603 3 179 4,813 3,275 2,185 1,090 3,537 2,256 1,281 3,511 2,245 1,267 15, 088 6,937 8,151 3,281 2,634 3,172 2,636 3,390 2,842 3,672 3,230 3,860 2,794 1,066 4,212 3,516 3, 732 2,153 1,579 3,925 3,085 3 339 2,800 3,637 3,202 4 149 3,470 3,857 3,025 14, 965 6,730 8 235 14, 462 6,135 8,326 14, 110 5,413 8,697 13,922 4,485 9,437 3,824 1,496 2,327 4,333 2,251 2,082 4,253 2,181 2,072 13, 517 3,832 9,685 5,319 1,898 3,421 5,126 1,640 3,487 5,043 1,575 3,468 13, 749 4,134 9,616 4,827 1,379 3,448 6,061 1,261 4,800 5 993 1,215 4 778 12,512 4,252 8, 261 5,931 1,739 4,193 5,634 4 254 15, 016 7,016 8 000 3,725 1,913 1,812 3,156 1,814 1,342 3, 136 1,801 1,335 15, 351 7,008 8,343 4 935 12, 806 5,312 7,495 12 433 13 641 13, 142 11, 336 13, 030 10, 888 11, 222 10 761 10, 353 12, 383 19, 427 20 484 23, 479 27 717 21, 496 20, 116 22, 632 18 410 19, 621 14 809 19,103 14 157 15, 955 11, 287 2,423 10, 960 20, 337 2,433 8,694 21, 808 2,909 7,758 25, 267 2,677 7,914 25, 549 4,441 7,661 23, 740 6,883 13, 419 22, 688 7,155 20, 278 18, 402 6,184 13, 638 19, 861 7,352 10, 775 24, 123 4,635 9,868 28, 637 3,765 10, 052 33, 750 4,552 6, 398 38, 436 4,647 5 265 4,247 3,777 4,008 3,728 3,959 3,925 3,108 3,256 5,209 5,482 6,094 6, 786 5,154 5,024 5,177 4,392 4,351 3,802 4, 244 3,678 4,054 2,763 5 050 2,369 3,502 2,766 3,362 3,121 3,419 3,302 2,988 3,215 5,146 3,006 6,386 2,228 4,584 2,333 3,806 3,011 3,518 3,645 3,336 4,286 2,351 5,559 1,992 397 2,060 382 1,815 352 2,018 358 2,273 371 2,847 521 1,067 1,259 3,924 865 1,471 1,588 4, 191 1, 187 | 3,892 975 1,298 1,619 3,675 882 1,206 1,587 3,275 808 1,117 1, 350 2, 836 607 1, 013 1,216 551 4 262 4 773 168 258 6 209 780 816 209 1 275 730 949 221 3 362 633 830 647 548 539 170 235 271 802 858 536 442 435 281 1 266 903 999 696 679 182 1 335 840 833 284 395 293 4 436 1.428 : 1,575 282 8 579 306 3 281 679 4, 955 5,591 656 340 9 333 337 2 409 t For revised data for year 1932 see p. 50 of May 1933 issue. " New series. Earlier data not published. § Data revised for 1932, for revisions see p. 50 of the June 1933aissue. Revised. 52 SUKVEY OF CUEKENT BUSINESS 1933 Monthly statistics through December 1931, 1933 together with explanatory footnotes and references to the sources of the data, may be found Decem- DecemJanuary in the 1932 Annual Supplement to the Survey ber ber February 1934 1933 February March April May June July August |SeP£m- October November STONE, CLAY, AND GLASS PRODUCTS BRICK § Common brick, wholesale price, red, N.Y. dol. per thous.. Face brick (average per plant): Orders, unfilled, end of mo— thous. of brick.. Production (machine)* — thous. of brick. _ Shipments thous. of brick Stocks, end" of month \ thous. of brick.. Sand-lime brick: Orders, unfilled, end of mo— thous. of brickProduction. thous. of brick.. Shipments by rail thous. of brick _ Shipments by truck .thous. of brick. _ Stocks, end of month thous. of brick.. 9.00 9.25 10.13 9.25 9.25 9.25 9.25 9.25 9.25 9.25 9.25 9.25 8.75 340 109 111 2,717 352 98 85 3,133 292 35 79 3,061 300 24 50 3,030 324 27 94 2,975 359 93 131 2,911 350 139 169 2,860 398 157 207 2,823 408 245 213 2,797 432 256 226 2,790 379 185 180 2,778 328 174 208 2,705 320 123 2,750 5,755 798 82 884 4,792 7,325 606 110 1,233 4,622 4,812 307 80 778 4,020 3, 675 511 15 861 3,501 2,775 492 50 742 3,003 1,580 588 72 606 3,877 1,315 730 71 1,265 1,936 3,955 1,148 15 947 2,042 865 2,084 58 1,419 3,130 315 903 15 975 2,608 245 882 19 891 2,189 1,775 1, 431 773 642 1,485 1.424 1 603 4,248 3,526 18.5 15 5 2,835 3,738 19, 498 « 20,240 5,995 5, 756 1.426 2,958 12.9 2,502 20, 624 6,092 1.436 2,777 13.4 2, 278 21, 125 6, 422 1.436 3,684 16.1 3, 510 21, 298 6,890 1.436 4,183 18.9 4,949 20, 542 7,146 1.436 6,262 27.4 6,709 20, 117 6,769 1.436 7,804 35.2 7,979 19, 936 6,840 1. 549 8,609 37.6 8,697 19,848 6,832 1.586 8,223 35.9 5,994 22,078 6.474 1 595 5,638 25.5 6,517 21, 216 6,507 1 603 5,037 22 1 6,750 19, 502 6,204 1.603 4,672 21.2 4,463 « 19, 709 « 5, 877 1,462 44 9 1, 372 5, 513 1,636 51 3 1, 738 5,244 1,585 51.8 1,508 5,325 1,704 49.5 1,621 5,406 1,568 49.2 1,682 5,305 1,693 49 1 1,969 5,036 2,007 60.5 2,129 4,893 2,322 72.8 2,112 5,103 2,492 72.3 2,553 5,033 2, 158 67 6 2,529 4,736 2 237 67 4 2,084 4 796 2,123 64.0 1,806 5,112 948 1,222 1,144 1,043 1,219 795 1,049 1,280 1,010 1,379 1,327 1,008 1,300 1,390 1,161 2,241 2,217 1,484 2,145 2,324 1,670 1,331 2,100 1,611 1,815 2,168 1,647 1 556 2,027 1,926 1 473 1 856 1,713 1 571 1,958 1,588 1,083 37.4 4,949 986 34.0 4,480 1,006 35.4 4,397 1,267 44.6 4,388 1,226 43.2 4,342 1,422 50.1 4,413 2,027 71.4 4,091 1, 583 55.8 4,110 1,701 • 59.9 4,038 1,736 61.2 4,205 1,582 55.7 4 165 1,423 50.5 4,656 4,268 6,472 5,186 5,112 4,893 8,286 9,946 11, 828 11, 768 9,346 6,064 4,360 342 34 341 33 174: PORTLAND CEMENT Price wholesale composite dol. per bbl Production thous. of bbl.. Percent of capacity Shipments .thous. of bbl_. Stocks, finished, end of month, .thous. of bbl.. Stocks, clinker, end of month .._ thous. of bbL_ GLASSWARE, ETC. Glass containers: Production thous. of gross ._ Percent of capacity Shipments .thous. of gross. _ Stocks, end of month _ . thous. of gross. _ Illuminating glassware:* Orders: New and contract . number of turns Unfilled, end of month number of turns.. Production number of turns.. Shipments: Total number of turns . . Percent of full operation Stocks, end of month number of turns _ _ Plate glass, polished, production # thous. of sq. ft.. 1 997 62 6 1,873 5 238 6, 654 0 0 GYPSUM * Crude (quarterly) : Imports .. short tons__ Production snort tons Shipments (uncalcined) __ short tons Calcined (quarterly): Production short tons Calcined products (quarterly): Shipments: Board, plaster (and lath), thous. of sq. ft_ Board, wall thous. of sq. ft_. Cement, Keenes . ... short tons . Plasters, neat, wood fiber, sanded, gaging,finish,etc . short tons For pottery, terra cotta, plate glass, mixing plants, etc ..short tons Tile, partition thous. of sq. ft.. 80, 366 252, 891 96, 374 0 197, 730 61, 106 74,240 369, 016 146, 569 117, 532 431, 521 158, 061 199, 083 168, 931 297, 033 264, 805 22, 951 41, 663 2,634 18,882 42, 442 2,073 28, 945 67, 438 3,881 35, 339 54, 943 4,232 155,603 121, 490 217, 274 187, 152 18,219 1,393 17,249 1,406 24,795 1,516 30, 861 1,715 TERRA COTTA Orders, new: Quantity. Value .. short tons.. . .thous. of dol.. 764 52 1,306 79 1,188 92 292 26 2,333 198 1,105 67 1,297 72 565 47 834 68 182 21 717 65 r rEXTILE ]PROD UCTS CLOTHING Hosiery: * Orders: 7 547 3,297 3,666 New thous. of dozen pairs 4,185 3,860 5,006 4 471 5,406 8 075 4 684 4 028 4 337 3 470 Unfilled, end of month thous. of dozen pairs, . 2,999 3,006 4,392 2,877 2,826 3,109 3,892 5,865 7,155 5,048 5,939 4,172 3,296 4,197 Production thous. of dozen pairs 3,311 4,695 4,063 4,408 4,263 4,522 5,559 6,115 5,075 4 568 4 703 4 139 Shipments, net thous. of dozen pairs.. 3,424 3,516 4,731 4,783 4,047 4,603 4,815 5,358 6,537 5,556 4,500 4,526 4,028 9,010 Stocks, end of month, .thous. of dozen pairs. . 8,496 8,251 9,010 8,776 8,469 8,740 8,390 7,553 7,719 7,951 7,855 8,091 Men's and boys' garments cut: 172 527 Overcoats thous. of garments 178 267 569 216 122 330 131 409 553 354 1,164 Separate trousers _ - thous. of garments . 1,390 1,844 1,436 1,676 2 089 1,792 2,401 2,193 2 106 1 702 1 191 Suits _.thous. of garments ._ 1,450 1,077 1,850 1,745 1,593 1,832 1,385 1, 807 1,681 1,599 1 163 907 Rubber clothing. (See Rubber products.) a Revised. * ^J / ^res. For earlier data on face brick (machine production) see p. 20 of the June 1933 issue; gypsum, see p. 20 of the January 1933 issue; hosiery, see p. 19 of the April 1933 issue (current data are partly estimated). Earlier data on glassware not published. # Partly estimated for months of 1933. J Adjusted for degrading and year-end physical inventories. § Census Bureau has comparative summaries for 2 months only on structural clay products. Series not comparable over 13-month period. 53 SURVEY OF CURRENT BUSINESS February 1934 Monthly statistics through December 1931, 1933 1933 together with explanatory footnotes and references to the sources of the data, may be found Decem- January Februin the 1932 Annual Supplement to the Survey December ary ber 1933 March April June May July October NovemAugust September ber TEXTILE PRODUCTS—Continued COTTON ^Consumption! --- thous. of bales-. Exports: Quantity, exclusive of miters thous. of bales.. Value. (See Foreign Trade.) Ginnings (total crop to end of month) thous. of bales.. Imports _ . .. thous. of bales.. Prices: To producer,. _ dol. perlb.. Wholesale, fniddling, N.Y dol. per IbProduction, crop estimate thous. of bales- _ Receipts into sight^thous. of bales.. Stocks, end of month :f Domestic, total mills and warehouses thous. of bales.. Mills ._ thous. of bales.. Warehouses thous. of bales World visible supply, total thous. of bales.. American cotton thous of bales 348 440 470 441 495 470 621 697 601 589 499 504 475 820 1,040 794 557 488 436 592 615 692 531 869 1,047 915 12, 357 14 12, 081 12, 415 13 7 14 171 5, 851 16 9 1,394 21 12 10 10,361 12, 108 .054 .096 .102 .059 * 13, 177 / 13, 002 1,272 1,586 .056 .062 .055 .061 .061 .070 .061 .069 .082 .086 .087 .096 .106 .108 .088 .096 .088 .097 .090 .097 .096 .100 1,078 599 569 684 728 771 761 782 2,131 3,231 2,331 11, 520 1,499 10 021 10, 549 8 759 10, 827 1,449 9 378 10,182 8 403 10,244 1 343 8 901 9,796 7 977 9,523 1 371 8 152 9,560 7 613 8,715 1 392 7 323 9,014 7 042 7,708 1 398 6 310 M41 6 429 7,085 1 348 5 737 7,713 5 908 6,946 1 160 5 786 7,254 5 602 8,535 1,160 7,375 7,901 6,385 10, 836 1 361 9 475 9,383 7 828 11, 985 1, 574 10 411 9,848 8 203 .168 .270 .163 .270 .175 .276 .179 .278 .216 .306 .251 .345 .311 .410 .361 .548 .339 .505 .321 .494 ,295 .478 34, 332 2,625 34, 215 2,794 39,475 4,125 28, 150 3,510 27, 384 4,808 30, 178 3,823 28,704 3,088 18, 213 1,404 13,797 2,442 13,095 3,204 15,092 3,925 11,955 1,642 10 313 10, 060 8,255 11 11, 880 1 530 10 350 10', 552 8 878 12, 710 12 13 COTTON MANUFACTURES Cotton yarn: Prices, wholesale: .301 22/ls, cones, Boston.. _-,dol. perlb— .174 40/ls, southern, spinning dol. perlb.. .458 .270 Cotton goods: Abrasive cloth. (See Paper Products.) Cotton cloth: Exports! thous, of sq. yd,. 17, 919 30, 479 Imports thous. of sq. yd.. 4,004 2,498 3?iber consumption for tires. (See Rubber and Rubber Products.) Prices, wholesale: Print cloth, 64 x 60. dol. per yd.. .066 .033 Sheeting, brown, 4 x 4 (Trion mill) dol. per yd— . 073 .038 .Cotton cloth finishing: Printed only (mills and outside) : Production- „ thous. of yd.. 79, 175 Stocks, end of month —thous. of yd— 81, 933 White, dyed and printed (outside mills): Billings (finished goods) thous. of yd._ 37,674 Operations percent of capacity »_ 41 Orders, new, gray yardage thous. of yd— 55, 786 Orders, unfilled, end of mo day's prod. 16 Shipments (finished goods) , __ cases- _ 19,864 Stocks, end of month (finished goods) cases — 14, 590 .Spindle activity:! Active spindles . . thousands.. 24, 841 23,800 Active spindle hours, total, -mills, of hours.. 5,095 6,386 Average per spindle in place hours165 203 73.5 Operations percent of capacity 87 1 .032 .031 .032 .037 .048 .059 .067 .070 .067 .067 .065 .038 .037 .037 .039 .050 .064 .077 .088 .080 .078 .076 88,300 80, 097 93, 773 82, 272 95, 746 80, 446 74, 463 80, 765 88, 278 81, 740 100, 479 75, 395 90, 106 72, 909 75, 329 82,943 57, 471 92,301 71, 669 103, 371 64, 334 103, 574 38, 282 47, 503 51, 148 43, 006 55 018 80 782 75 847 59, 741 45, 092 48, 097 52, 258 21 25, 698 55, 891 2 7 28, 156 61 681 21 30 339 58, 847 30 28 700 72, 565 30 34 684 140 632 88 51 004 93 660 4 6 48 38Q 55, 357 25 29, 843 60, 949 26, 775 79, 155 28 27, 383 13, 407 14, 919 15 768 16, 104 15 418 30 580 35 433 24 144 40, 107 43, 927 23, 754 6,791 217 95 0 23, 669 6,286 202 94 9 23, 488 7,050 227 93 8 23,422 6,570 212 95 5 24 610 8,329 269 112 4 25 550 9,299 300 128 9 26 085 8,128 263 117 5 25 885 7,942 258 106 7 26, 002 7,058 229 99 6 25, 875 7,261 235 101 9 55 67 60 60 68 84 76 54 53 3.4 60 EAYON AND SILK JRayon: Imports „ __thous. of lb,_ 338 395 285 221 351 45 8 52 366 770 828 1,126 Price, wholesale, 150 denier, "A" grade, N.Y—. _. dol. per lb_, .60 .65 .65 .60 .60 .50 .60 .60 .60 .65 .55 .65 Stocks, imported, end of month thous. of Ib . 241 504 257 226 242 237 398 253 249 410 287 d3ilk: Deliveries (consumption) bales _ 26,959 40, 548 46,204 32,665 38, 934 41, 910 47 151 53 627 44 597 42, 852 31, 185 28 521 Imports, raw _ thous. of Ib— 4,833 3, 402 8,301 5,660 4,254 4,988 6,404 7,732 8, 396 7,007 7,029 7,828 Operations, machinery activity: Broad looms percent of capacity 83 2 80.6 56 6 89,7 59 2 75 4 74 8 82 9 Narrow looms... percent of capacity „ 34.2 36.3 37,2 36.8 42.2 46 0 53 0 53 2 Spinning spindles. _ percent of capacity __ 48.9 38 2 55.5 49 8 52 3 62 8 56.8 78 4 Prices, wholesale: Raw, Japanese, 13-15, N.Y..,_.dol. per lb__ 1.182 1.550 1.201 2.155 1.889 1. 416 1.324 1.305 1.881 1.586 2.273 1.647 Silk goods, composite ___ dol. per yd— ,91 .90 1.03 .89 .89 .95 1.04 1.04 .92 .98 1.02 1.04 ;Stocks, end of month: World, visible supply i bales.. 282, 616 256, 142 239,864 237, 236 234, 523 224, 425 218, 923 243, 529 264, 130 283, 731 301, 981 United States: At manufacturers ., bales . 24, 762 22, 443 23, 406 22, 074 20,243 21, 151 20 243 22 190 21 458 23 092 24 480 23, 078 At warehouses ,— .. bales.. 96, 786 62,837 69, 747 60, 459 43, 814 43, 038 40, 125 33, 933 51, 684 55, 515 73,800 93, 625 25 423 6,796 220 96 3 92 .65 507 34 822 5,472 1.465 1.04 323,171 23 153 91, 122 WOOL ^Consumption, grease equivalent.. thous. of lb_. 33, 570 36,532 35, 510 33,278 24, 943 28, 701 46, 898 58, 688 57,377 55, 694 50,467 51,037 43, 466 Imports, unmanufactured!thous. of lb_. 16, 168 4,864 5,134 4,451 4,977 6,140 3,179 10, 898 31,406 40, 060 19, 633 21,308 15, 997 Operations, machinery activity: Combs., . percent of capacity. _ 107 92 84 87 62 55 76 134 113 100 134 108 108 Looms: Carpet and rug percent of capacity.. 22 23 23 44 23 25 35 31 46 45 49 49 46 Narrow percent of capacity 33 36 46 28 36 29 27 53 54 51 41 48 39 Wide. _ „ __ _ percent of capacity43 58 68 42 66 57 59 62 87 97 87 73 64 Spinning spindles: 55 60 Woolen .. .. .-percent of capacity 42 59 53 77 100 54 108 99 82 68 63 57 35 72 92 96 83 69 65 Worsted , Dercent of caDacity.. 46 32 fiO 56 57 • Dec. 1 estimate. / Final estimate. 5 For revisions for crop years 1932 and 1933 see p. 52 of the October 1933 issue and p. 52 of the September 1933 issue, respectively. t For revisions of cotton consumption and spindle activity for the year ended July 1932 see p. 20 of the February 1933 issue, and for cotton consumption and spindle ^activity for the year ended July 1933 see pp. 52 and 53 of the November 1933 issue. § Data revised for 1932. For revisions see p. 53 of the June 1933 issue. 54 SURVEY OF CURRENT BUSINESS 1933 Monthly statistics through December 1931, 1933 together with explanatory footnotes and references to the sources of the data, may be found Decem- Decemin the 1932 Annual Supplement to the Survey January Februber ber ary February 1934 1933 March April May June July August SeptemOctober November ber. TEXTILE PRODUCTS—Continued WOOL— Continued Prices, wholesale: Raw, territory, fine, scoured dol. per lb_. Raw, Ohio and Penn, fleeces dol. per lb_. Suiting, unfinished worsted, 13 oz. (at mill) dol. per yd__ Women's dress goods, French serge, 54" (at factory) ^_. dol. per yd__ Worsted yarn, 2/32s, crossbred stock, Boston dol. per lb~ Receipts at Boston, total thous. of lb._ Domestic thous. of Ib _ Foreign.. thous. of lb_. MISCELLANEOUS PRODUCTS Burlaps and fibers, imports: Burlaps _. thous. of lb._ Fibers long tons Buttons and shells: Buttons: Imports, total § . _ _ thous. of gross. From Philippines thous. of gross.. Fresh-water pearl: Production percent of capacity Stocks, end of month thous. of gross Shells, imports, total _. .thous. of lb__ Mother of pearl -___thous. of lb__ Tagua nuts, imports thous. of lb__ Elastic webbing, shipments thous. of dol.. Fur, sales by dealers ...thous. of dol_. Pyroxylin-coated textiles (artificial leather): Orders, unfilled, end of month thous. of linear yd.. Pyroxylin spread thous. of lb._ Snipments, billed thous of linear yd 0.88 .42 0.44 .20 0.44 .20 0.43 .19 0.44 .19 0.49 ,20 0.63 .29 0.70 .32 0.79 .35 1.800 1.175 1.175 1.175 1.175 1.163 1.395 1.550 1.125 .750 ^750 .750 .750 .750 .780 .925 1.35 6,176 4,824 1,352 .83 5,927 5,063 864 .80 8,978 7,991 987 .80 9,281 8,384 897 .80 4,657 4,032 625 .83 6,835 6,544 291 .93 17, 630 17, 415 215 31, 061 22, 195 29, 064 21, 344 28, 865 22, 937 22, 413 17, 521 34, 842 25, 118 27, 284 12, 307 45 39 77 64 88 49 73 57 71 58 1,057 387 1,223 709 38 0 8,025 741 214 586 605 1,356 40 0 7,971 684 677 864 663 1,604 41.3 7,751 297 267 1,356 656 1,543 2,599 2,351 2,148 1,675 1,862 1 791 2,175 2,121 1,956 2,188 2,374 2,128 0.80 .37 0.82 .39 0.84 .41 0.85. .41 1.613 1. 765 1. 800 1. 800 1.800 .975 1.065 1. 125 1.125 1. 125 1.09 54, 510 52, 995 1,5H 1.17 83, 318 70, 876 12, 442 1.18 61, 303 45, 593 15, 710 1.29 28, 981 22, 204 6,777 1.35 18, 931 15, 241 3,«690 1.35 14, 068 11, 073 2,995. 30, 192 20 079 34, 251 17, 820 34, 499 23, 807 50, 203 20, 523 25, 097 18 974 49, 848 21 806 33, 914 18, 713 75 61 98 74 86 74 114 77 93 62 53 44 102 74 125 8? 36.2 7,325 3,255 394 1,087 619 1,661 43.2 7, 132 200 181 865 615 2,067 51.3 6,938 567 549 1,176 820 3,327 54 2 6,792 172 120 1,983 1,093 3,803 49 0 5,983 815 150 3, 236 1,301 3,892 56 3 5,737 779 713 3,264 1,270 5,279 52 9 5,832 506 483 2, 216 1,074 2,725 60 4 5,827 505 365 3,066 1,097 868 58 8 6,211 667 612 1.50& 877 709 1,992 2,333 2, 079 2,699 3,039 2,781 2,753 3,920 3, 760 3,745 4,450 4,202 3,195 4,348 4,280 2,751 3,691 3,889 2,660 2,761 2 718 2,556 2,697 2 578 ., 2,477 2,157 2 024 107 66 28 13 81 29 27 25 kJ TRANSPORTATION EQUIPMENT AIRPLANES 92 125 119 87 Production, total number 71 44 35 21 37 Commercial (licensed) number 30 49 45 27 30 Military (deliveries) _ .number _ 22 41 25 30 39 For export number 19 Exports: AUTOMOBILES Canada: 475 256 1,601 1,090 Automobiles, assembled number 169 289 833 1,558 Passenger cars . .. number United States: Autos and parts, value. (See Foreign Trade.) 8,657 8,056 4,978 10, 143 Automobiles, assembled, total §. number _. 9,526 5,521 5,528 3 066 2,757 7,059 Passenger cars § number 2,221 3,084 3,136 2,528 Trucks § _ number.. 6,460 Financing: 29, 189 27, 025 31, 280 33, 547 Retail purchasers, total-thous. of dol 33, 124 19, 464 16, 842 18, 328 14, 091 New cars thous of dol 17 794 Used cars thous. of dol__ 14, 532 12, 174 12, 174 11, 725 13, 335 621 748 760 779 Unclassified . .-thous. of dol. . 798 Wholesale (manufacturers to dealers) thous. of dol._ 16, 573 20, 131 30, 134 27, 515 27, 706 Fire-extinguishing equipment : f Shipments: 24 14 28 21 27 Motor- vehicle apparatus number Hand types . number- 24, 989 10,047 10,749 11, 841 « 12, 871 Production: Automobiles: 3,358 3,298 6,632 2,139 3 262 Canada, total number 5,927 2,921 3,025 1,561 Passenger cars number.. 2,171 United States, total — number-- 84, 045 107, 353 130, 044 106, 825 117, 949 91, 340 99, 225 Passenger cars number 52 601 85, 858 108, 321 5 152 660 1, 299 291 Taxicabs . _ number 21, 718 15, 333 18, 064 Trucks number 30 145 21, 204 «649 727 580 347 627 Automobile rims .thous. of rims.. Registrations, new passenger cars f. .number- » 58, 000 45, 683 79, 821 69, 464 78, 741 Sales: General Motors Corporation— 19, 992 50, 653 42,280 47, 436 11 951 To consumers number To dealers, total number,. 21, 295 53, 942 82, 117 59, 614 58, 018 72, 274 50, 212 U.S. dealers ..number45, 098 11, 191 44, 101 Shipments, accessories and parts, total * 50 41 51 51 Jan. 1925=100 Accessories, original equipment 48 46 45 33 Jan. 1925=100 54 42 46 40 Accessories to wholesalers Jan. 1925=100 76 84 84 87 Replacement parts Jan. 1925=100 32 34 28 36 Service equipment.. Jan. 1925 =100. . RAILWAY EQUIPMENT Equipment condition: Freight cars owned: Capacity mills, of lb._ 192, 121 200, 547 200, 250 198, 997 198, 652 2, 020 2,127 2,123 2,106 Number, total thousands 2,101 Bad order, total number 289, 985 266, 066 266, 594 269, 378 274, 368 14.5 12.6 12.9 Percent of total in bad order 12.7 13.2 « Revised. § Data revised for 1932. For revisions see p. 54 of the June 1933 issue. f Revised series. See p. 19 of the August 1933 issue for earlier data on fire extinguishers * New series. For earlier data see p. 20 of this issue. > Preliminary, 106 62 27 17 122 66 35 21 143 78 48 17 141 99 7 35 132 81 14 37 123 66 21 36 1,256 936 2,690 2,194 2,247 1,805 1,731 1,220 1,714 1,233 2 190 1,726 8,318 5,662 2,656 7, 538 5 093 2,445 7,235 4,757 2,478 9,128 5,546 3,582 10, 308 6,516 3,792 10,944 6 330 4,614 45, 337 28, 226 16, 107 1,005 58, 193 37, 475 19,428 1,289 65, 514 43, 004 21, 182 1,328 65,153 43, 334 20, 542 1,277 71, 187 47, 291 22, 536 1,360 40,841 55, 006 56, 938 57,866 31 « 12, 417 18 16, 401 25 22, 642 8,255 6,957 180, 667 152, 939 411 27,317 898 119, 909 9,396 8,024 218, 303 184 644 54 33 605 938 160, 242 71, 599 86,967 74,242 2 868 2, 428 ' 1,750 1,228 11,473 5 906 5,567 6, 703 3 527 3,176 62 539 40, 887 20, 393 1,259 57, 503 36, 790 19, 665 1,048 43, 889 26, 278 16, 741 870 69,613 51, 127 38, 963 17, 703 21 19, 495 19 21, 183 17 18, 348 19 17, 996 14 21, 892 7,323 6,005 253, 322 211, 448 35 41 839 1,015 174, 190 6, 540 5, 322 233,088 195, 019 4 38, 065 890 185,660 6,079 4,919 236, 487 195, 076 68 41, 343 961 178, 661 5 808 4,358 196,082 160 891 9 35 182 701 157, 976 3,682 2, 723 138, 485 108 010 63 30 412 * 1* 523 136, 326 2,291 1,503 63, 904 42, 818 1,611 19, 475 506 94, 180 85 969 98, 205 85, 980 101, 827 113, 701 99, 956 87 298 106, 918 92, 546 86 372 97, 614 84, 504 71 458 81, 148 67, 733 63 518 53, 054 41, 982 35, 417 10, 384 3, 483 64 71 81 76 80 74 59 56 59 46 106 38 64 56 118 60 73 99 129 50 68 83 119 47 71 99 134 56 66 101 120 48 47 91 109 47 44 86 105 46 198, 158 2,095 286 987 13.8 197, 664 2,088 303 758 14.7 196, 733 2,077 316 107 15.4 196, 059 2,069 316 437 15.4 195, 380 2,060 304 202 14.9 194, 387 2 047 295 056 14.6 193, 556 2,038 295 087 14.7 « 193, 050 2,031 295 784 14.8 and passenger-car registrations. 55 SURVEY OF CURRENT BUSINESS February 1934 1933 Monthly statistics through December 1931, 1933 together with explanatory footnotes and references to the sources of the data j may be found Decem- Decemin the 1932 Annual Supplement to the Survey ber ber January 1933 February March May April June October NovemAugust September ber. July TRANSPORTATION EQUIPMENT—Continued RAILWAY EQUIPMENT— Continued Equipment condition— Continued. Locomotives, railway: Owned: Tractive power mills, of lb_. Number number „ Awaiting classified repairs. . .number.. Percent of total _._ Installed—,, number-Retired _ number.. Passenger cars: On railroads (end of quarter) number _. Equipment manufacturing: Freight cars: Orders, new, placed by railroads cars,,. Orders, unfilled, total cars.. Equipment manufacturers cars_. Railroad shops. cars.. Shipments, total ,.,—cars-. Domestic cars Locomotives, industrial electric (quarterly): Shipments, total — — ...number.. Mining use . . number.. Locomotives, railway: Orders, new, placed by railroads number.. Orders, unfilled, end of month: Equipment manufacturers (Census) total - —- . number.. Domestic, total number.. Electric __.. number.. Steam number-Railroad shops (A.R.A.) .number.. Shipments: Domestic, total number Electric number.. Steam „.-, ._ __ number.. Exports, total § — >.. .number.. Electric § numberSteam . » .number.. Passenger cars: Orders, new , placed by railroads number. Orders, unfilled (end of quarter) .number.. Shipments, total number.. Domestic * .number. 2,363 50 187 10, 895 21.9 85 294 2,435 52 490 9,558 18,5 36 196 2,432 52 401 10, 014 19.4 31 120 2,428 52 237 10, 290 20.0 57 221 48, 988 224 67 66 50 2,431 50 2,381 15 14 34 18 14 14 224 o 3 2,223 1 2,222 3 3 o 1,974 0 1,974 15 15 47, 881 2,382 50 788 10,735 21 5 53 346 2,379 50 677 10, 963 22 0 42 162 2,372 a 5Q 44(5 10, 824 2J 8 26 261 47 227 50 1,561 g 1,205 500 1,205 66 1,187 130 1,129 19 275 520 127 665 125 1,561 0 1,205 3 3 1,205 2 2 1,187 165 120 1,129 427 392 275 42 127 162 112 125 62 62 o 1 4 1 82 79 77 2 1 o o o o o o 26 26 o Q 38 38 2 o 70 70 68 2 3 69 69 67 2 3 80 77 75 2 1 79 77 75 2 1 83 79 78 1 1 83 79 - 78 1 1 2 2 70 67 66 1 1 1 1 71 68 66 2 1 3 3 68 68 67 1 3 1 0 1 5 5 Q 0 o 2 1 1 11 g 3 2 1 1 2 0 2 0 Q 7 4 3 o o 0 3 0 0 o o o 51 61 51 48 3 57 57 26 2,787 1, 181 24 5, 148 3 751 25 5,930 1 406 5 6 6 16 9 6 6 0 2 2 0 0 o o o o o o 2,391 51 081 11, 000 21 9 73 248 o 71 71 70 1 3 o a 2,396 51 233 11, 109 22 1 23 322 11 73 73 72 1 3 1 6 1,873 0 1,873 9 g 2,407 51 537 11, 203 22 2 89 355 o 2 7 2,410 51 654 11, 103 21 9 43 410 13 12 4 o 2,422 52 020 10! 743 21 2 44 105 48, 592 1 74 72 72 2,423 52 081 10, 545 20.6 41 197 o 2 2 0 9 4 5 0 4 4 0 0 o 5 5 o o o o o0 o 11 7 4 0 o g g o o o o o 4 4 52 52 57 57 o o 0 15 0 0 67 64 3 13 13 Q 21 21 o 27 27 0 38 38 o 12 11 1 22 22 8,363 7, 743 18 7,698 5,888 22 15,944 13,741 24 9,338 8,531 14 41, 213 37, 537 12 2,885 1,578 18 9,474 7 246 171 58 213 55 93 83 78 90 130 757 203 766 232 741 209 732 216 757 6 o 0 7 0 0 o 1 1 Q g 4 2 Q o Q ELECTRIC TRUCKS AND TRACTORS Shipments, industrial, total Domestic. _ _. .. .„ Exports number.. ...number.. number o o o o Q 60 58 2 SHIPBUILDING United States: Merchant vessels: Under construction ..thous. of gross tons.. Completed during month-total gross tons.. Steel -.total gross tons World (quarterly): Launched: Number. _„. ships. Tonnage thous. of gross tons-. Under construction: Number ships.. Tonnage thous. of gross tons.. 35 2,794 35 38 5,264 319 36 5,673 1 867 CANADIAN STATISTICS Business indexes:* Physical volume of business., 1926=100.. 86.2 68.1 72.6 85.1 Industrial production, total 1926- 100.. 67.7 62.2 Construction 1926=100 32 8 25 2 19 5 Electric power .. ._ __. 1926 =100.. 156,5 131,3 131.6 Manufacturing _. . 1926=100 88 6 70 2 62 2 88.4 Forestry 1926=10Q._ 60.0 63.4 102.2 Mining ™_1926= 100. 80.5 90.5 Distribution 1926=100.. 89.3 86.1 84.3 Carloadings .-1926=100.. 60.4 58.4 56.1 53 5 Exports (volume) 1926=100 47 5 56 6 Imports (volume) 1926=100_. 67.8 52.4 59.8 Trade employment ~ 1926=100 115.9 113.4 111.5 Agricultural marketing 1926=100 30 7 56.1 69 1 Grain marketings 1926=100.. 24.756.6 52.5 Livestock marketings 1926=100 57 5 70 3 71 9 Commodity prices: Cost of living index f 1926=100, 78.4 79.5 79.1 Wholesale price index 1926=100.. 69.0 64.0 63.9 Employment, total (first of month). 1928 -100., 83.2 91. 8 78.5 94.6 Construction and maintenance ...1926 =100.. 67.6 58.5 84.4 Manufacturing _„.« 1926=100.. 80.3 74.4 Mining _ 1926=10099.9 105. 5 96.9 102.2 Service 1926=100.. 103. 7 108.8 119 1 Trade ._ . . 1926=100, 117.8 119.6 Transnortation .1926=100.. 83.9 79.8 78.3 « Revised. * New series. For earlier data see p. 18 of the February 1933 issue. § Data revised for 1932. For revisions see p. 55 of the June 1933 issue. t Data revised for 1932-33. Revisions for 1932, see p. 55 of the November 67.0 60.9 20 3 136. 1 58.7 59.8 94,2 83.8 57.9 49 6 50.8 110.9 76 5 75.9 79 4 68.4 62.5 16 1 134.4 62 7 60.7 91.4 84.8 61.8 51 1 50.0 110. 5 129 0 140.2 77 g 69.8 65.1 20 6 134. 9 67 0 63.7 81 9 82.9 59.4 47 9 44. 2 110 1 104 1 109.7 79 2 76.4 72.7 14 1 138 9 77 4 75.7 97.8 86.7 62.9 66 6 54.8 110.3 95 4 98.3 82 5 82.2 79.8 19 6 149 0 85 7 79.2 99 0 88.9 66.8 65 3 56.7 112 2 221 9 252.5 84 8 84.1 82.6 34 0 160 7 88 2 87.0 81 0 88.4 62.6 71 5 59,7 111 9 136 3 148.5 81 2 89.8 89.5 25 5 168 0 96 9 94." 0 99 0 90.5 67.9 65 1 65.0 112 7 197 2 224.6 74 5 90.8 90.2 26 9 148 9 97 0 88.0 108 8 92.6 63.9 85 8 70.5 114 8 101 1 106.2 78 0 88.2 87.4 42 6 148 8 87 9 86.2 117 7 90.5 62.6 67 6 71.6 113 9 70 5 70.0 72 5 85.5 83.9 37 3 158 1 86 2 87.2 99 2 89,9 62.9 58 3 77.4 112 8 41 8 36.7 65 2 78.4 63.6 77,0 56.2 75.0 94.0 104.2 109.4 75.0 77.8 64,4 76.9 56.5 75,8 94.6 102,9 107.3 74.1 78.1 65.4 76.0 64.7 76.0 91 4 102.5 107 6 74.2 77.0 66.9 77.6 60.8 76.8 89 9 99.9 108 6 78.9 77.0 67.6 80.7 67.8 80.0 91 4 106.2 109 1 79.0 77 2 70.5 84.5 78.2 83.0 93 1 111.5 111 8 80.5 78 6 69.4 87.1 88.4 85.2 97 4 111.8 110 5 81.2 78 8 68.9 88.5 88.4 86.8 100 4 113.8 111 8 82.5 77 9 67.9 90,4 97.0 86.7 105 8 108.1 115 0 78 1 68.7 91.3 94.6 86.5 109 7 107.9 115 6 1933 issue. 82 7 SI 4 56 SURVEY OF CURRENT BUSINESS 1933 Monthly statistics through December 1931, 1933 together with explanatory footnotes and references to the sources of the data, may be found Decem- January Februin the 1932 Annual Supplement to the Survey December ary ber February 1934 1933 March April May June July August Septem- October November CANADIAN STATISTICS—Continued Finance: Banking: Bank debits mills, of dol— 2,492 Exchange. (See Finance.) Interest rates — _. . 1926** 100— 98 5 'Commercial failures* - number Life insurance, sales of ordinary life (14 cos.)* thous. of dol— 37, 376 .Security issues and prices: New bond issues, total thous. of dol— Corporation thous. of dol— Dominion and provincial thous. of dol— Municipal . .thous. of dol— Railways thous. of dol— Bond yields percent- "~T 72~ Common stock prices, total 1926«100— 72.2 Banks -. 1926=100— 63.7 Industrials 1926« 100- - 107 6 45.2 Utilities., _ 1926=100foreign trade: Exports thous. of dol— 51, 624 Imports... — •thous. of dol— 35, 368 Exports, volume: Automobiles. (See Transportation Equip.) Newsprint. (See Paper and Paper Products.) Wheat thous. of bu,_ 17, 458 Wheat flour thous. of bbl— 418 Trade with U.S. (See Foreign Trade.) Kailway statistics: 158 Carloadings —thous. of cars,. Financial results: Operating revenues- . . -- thous. of dol _ Operating expenses, _„ thous. of doL. Operating income . thous. of doL. Operating results: Freight carried 1 mile mills, of tons.. Passengers carried 1 mile mills, of passengers-. Commodity statistics: Production: Automobiles. (See Transportation Equip.) Electrical energy, central stations mills, of kw.-hrs.- 1,708 38 Pig iron thous. of long tons.. Steel ingots and castings thous. of long tons.. 50 Livestock, inspected]slaughter: 67 Cattle and calves thous. of animals-253 Swine . thous. of animals.. 41 Sheep and lambs thous. of animals _ Newsprint. (See Paper and Paper Products.) Silver. (See Finance.) Wheat, visible supply. (See Foodstuffs.) 967 Wheat flour thous. of bbl— 2,085 1,969 1,830 1,887 1,877 2,650 2,982 3,528 2,649 2,457 2,823 2 837 102.7 196 99.2 216 98.7 214 100.0 192 101.3 184 98.1 175 97.1 158 96.7 142 95.0 150 95.8 155 94.6 144 97.3 155 33,483 29, 367 26, 323 29,763 29, 770 30,497 32,398 30, 255 27, 263 25,381 31, 472 34, 185 10, 707 0 11, 173 122,892 1,110 485 74, 958 0 94, 790 500 486 225, 759 0 90 6,805 1,575 7,815 117, 474 4,308 2,873 0 0 4.70 4.65 74.7 63.7 72.7 64.6 85.8 103.6 47.2 53.8 68, 350 5,608 1,000 4.63 83.3 79.6 118.3 58.5 80, 000 14, 290 0 4.55 78.7 75.2 113.3 63.9 0 225, 000 486 669 0 0 4.59 4,53 78.4 70.4 74.0 70.9 115.1 100.1 50.7 45.9 5,000 230 0 4.66 73.7 67.5 109 6 45.2 178 0 19, 987 0 425 0 731 625 0 178 0 4.92 51.3 67.5 58.4 45.1 19,000 987 0 4.75 51.6 67.5 59.6 44.6 0 425 0 4.73 47.6 65,5 56.3 38.6 0 106 0 4.79 47.3 62.3 57.3 38.2 0 10, 707 0 4.85 51.9 59.8 67.5 38.5 43, 109 28,961 32,000 24,441 26,814 23, 514 37,161 32, 851 20, 312 20, 457 46, 109 32,927 46,472 33, 619 51, 866 35, 738 45, 135 38,747 58, 329 38,698 60, 760 41, 070 60, 926 43, 712 27,736 492 14,707 397 10,922 333 14,816 490 4,460 234 21,465 565 16,999 545 16, 374 493 8,653 480 19,666 553 23, 306 514 23,144 548 134 133 157 138 161 176 163 186 202 222 201 17, 643 16, 788 18, 528 17, 881 d 1,813 <* 2,073 20, 612 19, 161 520 19, 530 18, 072 351 21, 447 19,298 1,136 24, 310 20,344 3,071 23, 713 20, 709 2,103 23, 730 21, 144 1,679 25, 872 19, 829 5,111 27, 239 19, 683 6,654 153 21, 902 19, 434 1,904 ^ 1,740 1,388 1,302 1,712 1,413 1,529 2,133 1,735 1,752 2,103 2,442 130 95 88 97 105 100 141 145 145 136 96 1,433 27 1,397 29 1,300 6 1, 371 0 1,297 0 1,350 0 1,371 1 1,443 32 1,508 35 1,489 31 1, 618 27 « 27 41 12 11 12 23 32 49 49 38 48 43 60 268 49 71 247 49 65 220 36 89 250 42 97 232 30 116 279 30 91 235 56 88 191 72 99 187 101 101 195 148 108 235 182 100 277 84 1,010 859 845 1,005 1,013 1,334 1,186 1,323 1,444 1,393 1,651 * New series. For earlier data see p. 20 of the October 1933 issue. (Commercial failures) and, p. 20 of this issue (Life Insurance Sales). « Bevised. 1,703 30 a 1, 745 * Deficit. CHANGES IN STATISTICAL SERIES MADE SINCE PUBLICATION OF THE 1932 ANNUAL SUPPLEMENT Since the publication of the 1932 Annual Supplement, many series have been added to or dropped from the Survey in the regular semiannual revisions that have been made with the June and December issues. A record of the changes made in the December 1932 and June 1933 issues may be found on p. 56 of each monthly number from June 1933 to November 1933, inclusive. This record has been dropped from the current issue since sufficient space is not available to show them. Changes in the statistical series which were made in the December 1933 issue are listed below. DATA DROPPED DATA ADDED DATA DROPPED—Continued Page 50 Animal glues, production and stocks Purchasing power of the dollar 24 Paper board, production and shipments 36 New orders index _ 23 Pyroxylin products production and shipments of Highway construction under the National Indus23 trial Recovery Act _ _ —— 25 Unfilled orders index sheets, rods, and tubes „„.„ — 38 Home Loan B ank, loans outstanding 25 Federal-aid highway, work approved for construcGray iron eastings, orders, production, receipts, tion and balance of Federal-aid funds available H. L. Green Co., Inc., stores and sales, 26 and stocks „ ,.... 45 for new construction (new work now paid for by Pittsburgh employment index... 28 Plumbers woodwork, orders, shipments, and stocks 46 Pittsburgh pay-roll index ... 29 funds appropriated under N.I.R.A.) 25 U.S. Steel Corp., unfilled orders 47 Construction wage rates (E.N.R.) — 30 Building cost index of electric light and power conFabricated structural steel, orders and shipments struction (Richey) 25 Eeeonstruction Finance Corporation, loans outwith percent of capacity..., 47 25 Electric hoists, orders and shipments..,_ standing.. — . — 32 Building material costs, frame and brick house 47 F. and W. Grand stores and sales (merged with Cellulose plastic products, production and shipIlluminating glassware, percent of full operation o f ments of nitro cellulose and cellulose acetate H. L. Green Co., Inc.) . 26 orders, production and shipments 52 Sheets, rods, and tubes _ _.,_.„... 38 Isaac Silver & Bros, stores and sales (merged with Carded sales yarn, all series. 53 36 U.S. Steel Corp., shipments of finished products— 47 Explosives, production, shipments, and stocks NOTE.—The following applies to the exchange rate on the Argentine peso on p. 31. Quotation on the gold peso was discontinued on Dec. 10, and no quotations were issued on the llth and 12th. Beginning with Dec. 13, the rate was quoted on the basis of the paper peso, equal to 44 percent of the gold peso. The December rate given above has been adjusted to the basis of the gold peso. Beginning with January 1934 the rate will be given on the basis of the paper peso. INDEX TO MONTHLY BUSINESS STATISTICS Page Page Abrasive paper and cloth 50 Factory operations, proportion of full time worked 28 Acceptances, bankers' 30 31 Accessories, automobile *..'_. 54 Failures, bank; commercial 24 Advertising, magazine, newspaper, radio 25,26 Fairchild retail price index . ... 35 Africa, United States trade with 34 Fares, street railways ... ,. 28 Agricultural wages, loans 30 Farm employees , ... . 23 Air-conditioning equipment . _ „ 47 Farm prices, index finances. 32 Air mail . _ -. 26 Federal Government, . 25,28 Airplanes 35,54 Federal-aid highways 30 Alcohol, denatured, ethyl, methanol 36 Federal Reserve banks, condition of— 30 Aluminum .. 48 Federal Reserve member bank statistics. 36 Animal fats, greases . \ 37 Fertilizers 54 Anthracite industry... . 22,29,42 Fire-extinguishing equipment... _ . 25 Apparel, wearing__„__. . . 29,52 Fire losses Fish and fish oils 37,42 Argentina, United States trade with; ex_ 38 change;flaxseedstocks . _ _ - 32,34,38 Flaxseed 44 Asia, United States trade with... 34 Flooring, oak, maple, beech, and birch Flour, wheat 40 Asphalt ... 43 Food products 22, 23, 27, 28, 29, 39, 40, 41,42 Automobiles _. 22,27,28,29,54 44, 51 Babbitt metal 48 Footwear Foreign trade, indexes, values . . 34 Bank suspensions 31 47 Barley ...... 40 Foundry equipment France, exchange; United States trade with32,34 Bathroom fixtures 46 27,54,55 Beef and veal „+ _ 41 Freight cars (equipment) 35 Bituminous coal 22,28,29,42 Freight carloadings, cars, indexes 35 Boiler and boiler fittings . — .. 46 Freight-car surplus Fruits... ._ _ „_ 23,39 Bonds, prices, sales, value, yields , . 33 . . 48 Book publication__e . ... . — . 50 Fuel equipment _. 42,43 Boxes, paper, shipping . 50 Fuels 45,47 Brass _. „ 49 Furniture Gas, customers, sales, revenues 39 Brazil, coffee; exchange; United States trade Gas and fuel oils.. „ _. 43 with... ._ —... 32,34,41 Gasoline . . 43 Brick ._ 52 General Motors sales . 54 Brokers' loans ... 30 glassware ..... 22,27,28, 29, 52 Bronze .... 49 Glass and and mittens .__; . 44 Building contracts awarded 24,25 Gloves Gold _.*. 32 Building costs _ _ 25 Goods in warehouses . . . . . . 26 Building materials ... 24,44,46,47 Grains . . . . . . . . 23,24,40 Business activity index (Annalist) 22 Gypsum . .„ 52 Business failures ... ... 31 Hardwoods 44,45 Butter 39 Heels, rubber ... . 51 Canadian statistics . 55,56 Hides and skins ...... 44 Candy .„. 42 Hogs . 41,44 Canal traffic 35 Home Loan Bank, loans outstanding ._ 25 Capital issues--. ._.__..- 32,33 Hosiery 52 Carloadings „ 22,35 Hotels... 28,29,35 Cattle and calves .„ , ... 41 Housing „ 23,25 Cellulose plastic products i_ . . 38 employees, factory earnings 28, 29,30 Cement ._ 22,27, 29,52 Illinois, 34 Chain-store sales . . 26,27 Imports. Income-tax receipts _ . 32 Cheese 39 Incorporations, business *. . 26 Chile, exchange; United States trade with.. 32,34 Industrial production, indexes. . 22 Cigars and cigarettes . . ... 42 Installment sales, New England ... 27 v Civil-service employees 28 life „..„ 31 Clay products 23,24, 27,28,29,52 Insurance, payments „ .... 33 Clothing .... 24, 25, 27, 28, 29,52 Interest rates __> 30 Coal 22,28,29,42 Interest Federal Reserve member banks. 30 Cocoa . ... . 41 Investments, ore; crude; manufactures 22,46 Coffee 23,41 Iron, Italy, exchange; United States trade with 32,34 43 Japan, Coke exchange; United States tradp with 32,34 26 Kerosene Collections, electrical trade , ... 43 Commercial paper ... 30 Labor turnover, disputes : 29 36 Lamb and mutton Communications- . , . 41,44 Construction: Lard _ 41 24 Contracts awarded, indexes. Lead __ ... 48 25 Leather Costs 22, 23,24, 25,26, 27, 28, 29,44 25 Leather, artificial Highways 54 30 Liberty bonds Wage rates .. 33 48 Linseed oil, cake, and meal Copper.. _„ .—.. . 38 49 Livestock.. Copper wire cloth . 23,40,41,44 Copra and coconut oil 37 Loans, agricultural, brokers', time. . 25,30 Corn.____ ____.___„.... 40 Locomotives „ 55 Cost-of-living index _. 23 Looms, woolen, activity . 53 Cotton, raw and manufactures._ 23,52 Lubricating oil * 43 Cottonseed, cake and meal, oil 37 Lumber __ 22,23,24,27,28,29,44,45 Crops. _ 23,38,39,40,53 Lumber yards, sales, stocks.. 44 Dairy products . _. 23,39 Machine activity, cotton, silk, wool 53 Debits, bank.... . „ 30 Machinery 25,26,27,28,29,34,47,48 Debt, United States Government 32 Machine tools, orders, shipments 48 Delaware, employment, pay rolls 28, 29 Magazine advertising 25,26 Department-store sales and stocks .. 27 Manufacturing indexes . 22 Deposits, bank ...... .... 30,31 Marketings, agricultural, forest products 23 Disputes, labor . ^._... 29 Maryland, employment, pay rolls 28,29 Dividend payments . 33 Massachusetts, employment, pay rolls 28,29 Douglas fir . . 45 40,41 Earnings, factory 29,30 Meats... Metals 22,23,27,28,29,45,46,47,48,49 Eggs . 23,41 Methanol 36 Electric power, production, sales, revenues 22,38 Mexico: Electrical energy, consumption index 22,23 Petroleum production and exports 43 Electrical equipment . 49 Silver production _„ 32 Electric railways . 35 United States trade with..... ... 34 Milk .. 39 Employment: 22,42,43,48,49 Cities and States ... 28 Minerals . 32 Factory, Federal Reserve Board indexes.. 27, 28 Money in circulation Nonmanufacturing . 28 National Industrial Recovery Act, highway construction 25 Miscellaneous data . 28 Emigration , 35 Naval stores 23,37 32 Enameled ware ... 46 Netherlands, exchange 28,29 Engineering construction j. 25 New Jersey, employment, pay rolls „ 50 England, exchange; United States trade with. 32,34 Newsprint Exchange rates, foreign . 31 New York, employment, pay rolls, canal traffic . 28,29,35 Expenditures, United States Government. . . 32 30,33 Explosives ... 36 New York.Stock Exchange..... 30 Exports . _ _ 34 Notes in circulation 40 Factory employment, pay rolls, operations _ _ 27, Oats 28,29,30 Oceania; United States trade with 34 Page Ohio employment * 28 Ohio River traffic .... 35 Oils and fats .' , 37,38 Oleomargarine . . 87 38 Paints . 38 Passengers, street railways; Pullman 35,36 Passports issued 35 Paper and pulp 22,23,24,27,28, 29,4g, 50 Pay rolls: Factory, Federal Reserve Board 29 Factory, by cities and States ... 29 Nonmanufacturing industries . 29 Pennsylvania, employment, pay rolls 28,29 Petroleum and products. 22,27,28,29,43 Pig iron . 22.46 Pork „. 41 Postal business. 26 Postal savings 31 Poultry 23,41 Prices: Cost of living, indexes 23 Farm, indexes 23 Retail, indexes . 23,24 24 Wholesale, indexes. 24 World, foodstuffs and raw material. Printing 50 22 Production, industrial _. 33 Profits, corporation 32 Public finance. Public utilities 28,29,34,35,38,39 Pullman Co . 36 Pumps. _ 48 Purchasing power of the dollar.... 24 Radiators .. 46 Radio, advertising .... 25 Railroads; operations; equipment; financial statistics 35,54,55 Railways, street 35 Rayon „ 53 Real-estate market activity . 25 Reconstruction Finance Corporation, loans outstanding ., 32 Registrations, automobiles 54 Rents, index . 23 Retail trade: Chain stores: 5-and-10 _. 26,27 Grocery . . 27 Restaurant... ._ 27 Department stores. . 27 Mail order 27 Roofing 38 Rice ._ -. 40 Rubber, crude; scrap; clothing; footwear; tires.. 22,23,24,27,28, 29,51 Rye 40 Sanitary ware ... .. 46,47 Savings deposits.. _. 30,31 Sheep and lambs .... 41 Shoes 22,24,25,26,27,28,29,44 Shipbuilding..... 22,27,28,29,55 Silk - 23,53 Silver. 22,32 Skins 44 Softwoods ... 45 Spain, exchange 32 Spindle activity, cotton . 53 Steel, crude; manufactures 22,47 Stockholders 34 Stock indexes, domestic and world 23 Stocks, department stores : 27 Stocks, issues, prices, sales, yields 33,34 Stone, clay and glass products 22,23,28,52 Sugar 23,42 Sulphur . . , 36 Sulphuric acid . 36 Superphosphate 36 Tea. 23,42 Telephones and telegraphs 36 Terneplate... . 47 Terra cotta ._ _ 52 Textiles, miscellaneous products 54 Tile . . . - 52 Timber . 45 Tin and terneplate . 23,47,48 Tires 22,24,27,28,29,51 Tobacco 22,25,26,27,28,29,42 Tools, machine 48 Trade unions, employment 28 Travel 35,36 Trucks and tractors, industrial electric 55 United Kingdom, exchange; United States trade with 32,34 Uruguay, exchange ; 32 United States Steel Corporation 30,34,47 Utilities 28,29,34,35,38,39,54,55 Vegetable oils 37,38 Vegetables. __ 23,39 Wages 29,30 Warehouses, space occupied 26 Waterway traffic _35 Wheat and flour 23,40 Wholesale prices 24 Wisconsin, employment; pay rolls 28,29 Wood pulp . . 49,50 Wool 22,23,53 Zinc.. 22,49