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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
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Foreign subscriptions, 33, including weekly and 1932 annual supplements. Make remittances only to
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34969—34
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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*

<Ǥ

»!

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