Full text of Survey of Current Business : January 1942
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SURVEY OF
it i>i.
RRENT
SINESS
JANUARY 1942
PKITED STATES DEPARTMENT OF COMMERCE
OF FOREIGN AND DOMESTIC COMMERCE
Special Announcement
of Publishing Policy
The Bureau of Foreign and Domestic Commerce announces a simplified publishing program for the duration of the war. The Reference
Services, special reports, and cooperative studies which have been published separately for industries or for groups interested in special projects
will be consolidated into three periodicals, each of which is designed to
serve a particular function.
The Survey of Current Business will continue to provide economic
and statistical information to the business and professional community.
Publishable foreign trade information will be concentrated in Foreign
Commerce Weekly. Industry and business will find in the pages of
Domestic Commerce those commercial reports which can be made public*
The contents of the Bureau periodicals may be abridged in both extdnt
and variety. In not all instances will information heretofore available
be published. In the present issue of the Survey, for example, aU foreign
trade statistics and certain other statistical data which are of particular
military significance have been discontinued. Moreover, because a
large proportion of the Bureau personnel is engaged in providing necessary
information for war agencies, it will be impossible to draw as completely
upon the staff's specialized knowledge. On the other hand, it is hoped
that an increasing flow of information helpful to the efficient functioning
of business during the war economy will be derived from the fact-finding,
fact-analyzing activities of the Bureau for the war agencies.
Subscribers should expect changes in format and paper, as the
publications will cooperate with the Government Printing Office in the
most efficient and economical use of its equipment and paper stocks.
Unexpired subscriptions to the Reference Services and reports which
will be consolidated into the three periodicals will be credited to the
periodical which covers the same field.
SURVEY OF
CURRENT BUSINESS
JANUARY 1942
ECONOMIC HIGHLIGHTS
2
THE BUSINESS SITUATION
3
Industrial mobilization accelerated
Metal shortages retard income advance
3
,
3
Machine tools an arms bottleneck
4
Recent inventory accumulation
5
Rubber
7
Sugar outlook
The supply of lead
DIRECT PRICE CONTROL IN GREAT BRITAIN
9
10
12
STATISTICAL DATA:
Canadian indexes of cost of living—table 35
19
Standard and Poor's corporate bond prices—table 36
19
Standard and Poor's stock price indexes—table 37
20
Shipments of electrical household appliances—table 38
21
Standard and Poor's high grade preferred stock yields—table 39
22
Indexes of the value of manufacturers' inventories—table 40
Monthly business statistics
General index
22
S-l
Inside back cover
Published by the Department of Commerce, JESSE H. JONES, Secretary, and issued through
the Bureau of Foreign and Domestic Commerce, CARROLL L. WILSON, Director.
Volume 22
Number 1
Subscription price of the monthly and weekly issues of the SURVEY OF CURRENT BUSINESS $2 a year. Single-copy price: Monthly, 15 cents; weekly, 5 cents.
Foreign subscriptions, 33.50. Price of the 1940 Supplement is 40 cents. Make remittances only to
Superintendent of Documents, Washington, D* C.
SURVEY OF CURRENT BUSINESS
January 1942
Economic Highlights
Second- and Third-Shift Operations Lag
Sales of Savings Bonds
Changes in second- and third-shift operations have been
small . . . bulk of employment gains are in first shift and overtime. December-September shipbuilding employment doubled . . . with three-fourths of workers on first shift . . . and
proportion working overtime (10 hours over the normal 40)
MILLIONS
Sales of Defense savings bonds from May through December
totaled $2.6 billion . . . more than twice sales of old type savings
bonds in fiscal year 1940. Series E is available only to individuals, issued in small denominations, with yield of 2.9 percent
if held to maturity. Purchases averaged approximately $120
MILLIONS OF DOLLARS
500
OF MAN-HOURS
12
OVERTIME IN ALL SHIFTS
10
(3rd
STRAIGHT-TIME
8
I
400
SHIFT I
I 2nd SHIFT I
I 1st
ONLY, IN DENOMINATE
OF $25 - $1,000
300
SHIFT I
•
•
SERIES F a 6
SOLD TO INDIVIDUALS,
TRUSTS, AND UNINCORPORATED OR INCORPORATED
BODIES, EXCEPT COMMERCIAL BANKS (DEFINED AS
BANKS THAT ACCEPT
DEMAND DEPOSITS) IN
DENOMINATIONS OF $ 1 0 0 $10,000
200
100
SHIPBUILDING
(PRIVATE YARDS)
Man-Hours
Worked
CHEMICALS
BRASS, BRONZE,
MACHINE TOOLS
SJ
8 COPPER PRODUCTS
DEC.
1940 NOT t 'AILABLE. DO 41-664
per
Week
of
Straight-Time
in
Each
Shift
and
Sales of United States Defense Bonds.
of
million monthly until December, when buying more than doubled
. . . 8 months' total was $1.15 billion. Series F and G are
rising from three-fifths to four-fifths. Machine tool workers available to institutional investors other than commercial banks,
increased one-fourth . . . two-thirds still work first shift . . . 96 with interest rate, or approximate yield, of 2.5 percent . . . are
percent average 14 hours overtime. Chemicals, brass, bronze, issued in small denominations (with series F) only after Decemand copper products show no change in labor distribution ber 23. May sales volume of $364 million had been reduced to
between shifts and on overtime. First shift often handles $124 million in November . . . with a moderate December admaintenance, supply, other special operations . . . should be vance . . . 8 months' total was $1.44 billion. Sales must be
largest. Plant bottlenecks, including skilled labor, hold back stepped up iffiscalcontrol of prices is to succeed. Curtailment
three-shift operations . . . must be removed to realize full of consumer durable supplies will force much of this needed
saving by small income groups.
war potential.
Overtime in All Shifts.
Shipments of Steel and Steel Products Level Off
New orders for iron, steel,
and their products have been
reduced a third since May by
growing restriction and control
. . . now approximate shipments. Backlogs of 5 billion
dollars exceed 4 months' output at present rate. Though
shipments are double early
1940 volume they show no
gain since July. Basic reason
. . . relatively stable steel ingot
production. Record ingot and
steel for castings output for
year was 82.9 million tons . . .
one-fourth above 1940. Reported capacity increased
about 4 million tons to a total
OF
DOLLARS
0 4
0.2
1941
1940
New Orders and S h i p m e n t s
of
Iron
Including
and
Steel a n d Their
Machinery.
P r o d u c t s , Not
of 88 million . . . with 2 million additional tons now under
construction. Operations fluctuated between 96 and 99 percent of capacity for most of
year . . . but this performance may be cut. Uncertain
and tight scrap supplies are the
problem. Pig iron capacity
. . . interchangeable with scrap
in some processes . . . expanded
only 1.8 million tons in 1941.
Now being built is additional
pig iron capacity of 5.3 million
tons . . . but 15 to 20 months
are required for construction
. . . so scrap supplies must
not diminish if steel output is
to be maintained.
SURVEY OF CURRENT BUSINESS
January 1942
The Business Situation
AR at the new year marks another turning point
W
for the American economy. Eighteen months
ago the Nation began preparation for the conflict finally
thrust upon it on December 7. Great forward strides
have been made in the intervening period. But a truly
Herculean task still confronts the country in mobilizing
its maximum war potential.
A maximum effort in the shortest possible time is
essential. As the Supply, Priority, and Allocations
Board has declared:
From this moment . . . Victory is our one and only objective,
and everything else is subordinate to it . . . It is clear that a
vastly expanded national effort is imperative. Production schedules for all manner of military items must be stepped up at once.
Every activity of our national life and our civilian economy
must be immediately adjusted to that change. To attain
victory we aim at the greatest production which is physically
possible; we call for the greatest national effort that can possibly
be made.
The military potential of the country is very great.
The net national product in the final quarter of 1941
was close to an annual rate of 99 billion dollars. Industrial production was more than double that of 1918—
the Federal Reserve's adjusted index stood at 168 in
December. More than 49 million workers were employed in factories, on farms, and in other pursuits.
And the Nation's productive facilities, raw material
reserves, were the most extensive in the world.
The task is to harness these resources for war: not
only to expand the over-all volume of goods and
services, but to raise at a rapid rate the proportion of
the whole devoted to military production. In this
regard, the President has publicly stated that the
equivalent of one-half the national income can eventually be devoted to military expenditures, and in his
budget message he forecast the possible expenditure
of 56 billion dollars for this purpose during fiscal year
1943. Such expenditures were equal to less than onefifth of the net national income in the final quarter of
1941. In December, the first month of war, they
approached 2 billion dollars.
Industrial Mobilization Accelerated.
The organization of industry for increased production of war material was immediately accelerated in
December. Civilian industries using scarce raw materials were subjected to further curtailment and steps
were taken for their quick conversion to wartime output. Most outstanding in this connection were the
cessation of rubber production for civilian use, announcement of the cessation of nonmilitary automobile
production (to take effect February 1), and a heavy
reduction in first-quarter civilian consumption of wool.
Also significant was the establishment of complete
government control over the imports of 13 strategic
materials, including antimony, chromium, copper, lead,
tungsten, and zinc, as well as import control over all
fats and oils.
In transport, the President set up the Office of Defense Transportation to coordinate existing facilities.
Rationing of new automobiles and rubber tires pointed
to deep changes in the structure of domestic transport
with the necessity for achieving a maximum efficiency
of all available facilities.
Metal Shortages Retard Income Advance
The best general measure of economic progress is
the national income. In 1941 net income was about
one-fifth higher than in 1940, but about a third of the
advance was the result of higher prices. Income rose
throughout the year, though by the fourth quarter the
pace of the expansion in real income had slowed appreciably. It is clear, however, that the ceiling of this
income has not yet been reached. Unemployment as
reported by the Works Progress Administration was
still 3.8 million in December, and this excluded large
numbers of women, 3^oung people, and others not now a
part of the working force but available for work if
events require it.
The most important force now retarding an expansion
of income is the general shortage of many basic raw
materials—particularly metal supplies. Both military
output and the capital formation incident to it require
very large quantities of these latter materials. Hence,
the average amount of metal used by each worker in the
economy is increased in conjunction with an acceleration of military production.
The eventual expansion in metal producing facilities
will be substantial in many lines. Aluminum output,
which now is almost 50 percent higher than in mid-1940,
is scheduled to be more than twice the present rate.
Magnesium—virtually nonexistent in mid-1940—is on
the way to becoming a sizable industry. Steel facilities—as shown on the page opposite—are also being increased. Copper, lead, and zinc, however, can be
further expanded only in very limited degree.
The advance in aggregate metal supplies can only be
achieved slowly. For this reason, the total demand for
labor is not increasing as it would if the metals were
more plentiful.
As suggested above, December brought further evidence of this problem and its consequences. Automobile production for civilian use was cut further for both
December and January and eliminated altogether after
February 1, curtailment of the use of iron and steel for
stoves and ranges was announced, additional reduction
in the output of various electrical appliances was
SURVEY OF CURRENT BUSINESS
ordered, and expansion of utility facilities was forbidden
without express permission from the Office of Production Management.
At the same time, supplies of a few raw materials
in wide civilian and military use wrere endangered by
Japan's attack in the Far East. Most important of
these are rubber, tin, chrome, hemp, and to a limited
extent, sugar. In each instance, substantial stockpiles
exist, but here again civilian consumption had to be cut.
(See discussion of the rubber and sugar situations
below.)
Priorities Disemployment on the Increase.
As a result of the above raw-material shortages, the
country now finds itself with increased disemployment
in a number of industries at a time when not a little unemployment already existed.
Over the next few months the workers released by
curtailment of civilian output may possibly exceed the
number absorbed in expanding arms industries. However, such factors as conversion of plants to wartime
use, further construction of new facilities, increased rawmaterial supplies, and expansion of the armed forces,
will all result in speedy reemployment. Over the longer
period, the total labor force must be regarded as the
ultimate limiting factor to the size of war output, and
unemployment will undoubtedly be cut to an irreducible
minimum.
This was the experience in both England and Germany where some temporary unemployment was
created during the transition to their maximum war
output.
January 1942
industries may be converted by modification of existing
facilities, including the addition of some new machinery.
Industry
Potential use when converted
Tanks, ordnance, and other articles.
Hurricane lamps, bomb components,
tail fin assemblies, magazine holders,
engine cowlings.
Household appliances. Bombs, aircraft components.
Metal furniture
Airplane fins, rudders, boilers, bombs,
ammunition boxes.
Refrigerator cooling Fuel tanks, general sheet metal work,
and air conditionincluding engine cowlings, small coming.
pressors, fuse cylinders, mine sinkers,
engine castings, magneto parts, bomb
components, searchlight and motor
parts, and smoke shells.
Bolts
30- and 50-calibre ammunition.
Sewing machines
Rifle and pistol parts.
Railroad and street Tanks, gun mounts, projectiles.
cars.
Fountain pens and Primers, igniters, fuse components.
pencils.
Ammunition, rifle and pistol components.
Office machinery
Light fixtures
Cartridge cases, fuse and primer components.
Main assemblies, such as wings, rear
Stoves
fuselages, etc., general aircraft sheet
metal work, small assemblies, such as
fins, tail planes, rudders, etc., radiators, boilers, smoke bombs, ammunition boxes, shell casings, cylinder and
fuse containers, smoke floats, shell
turnings, land mines, trench mortar
bombs.
Automobile industrv__ Airplane components, gun mounts,
tanks, and a long list of ordnance and
other arms.
Wiring devices.
Ammunition components.
Rubber tires
Tanks, turret parts, treads, etc.
Farm implement
Cooking utensils, aluminum ware.
Source: Office of Production Management.
Machine Tools an Arms Bottleneck
While material supplies are the chief factor retarding
the expansion of income as a whole, machine tools are
November
June
the principal bottleneck to the advance in arms output
Industry1941
1941
itself.
542, 800
511, 400
Automobiles
Machine tools are necessary in any metalworking
150, 200
148, 700
Rubber products
Refrigerators and apparatus (domestic and industrial,
operation.
This country naturally has a large inven37,900
54, 500
including ice boxes)
8,800
10, 400
Washing machines, ironers, wringers, and driers
tory,
including
both special-purpose tools and many
54, 500
52, 400
Stove l
139,100.
131, 300 general-purpose tools used in civilian production. Very
Hosiery
87,100
77,100
Silk and rayon goods - 1
few tools of certain types required for arms production
1
Silk only is subject to general curtailment.
were in existence in June 1940. The machine-tool
Source: U. S. Department of Labor, Bureau of Labor Statistics.
industry itself had been semidepressed throughout most
At present, the electric appliance, rubber, and auto- of the thirties and consequently had not been expanded;
mobile industries are releasing the largest number of hence it was faced with a heavy task when called upon
workers as a result of curtailed operations. Employ- to equip a vast network of arms plants while meeting
ment in these industries and certain other lines subject record export requirements.
to raw-material difficulties, shown during their peak
The response of the industry to this challenge has
operations of last year and in November are shown been a considerable expansion of output. Production
in table 1.
last year exceeded 800 million dollars, as compared
By February, the output in each of these lines is with 450 million in 1940. At the year end, output was
expected to be limited very drastically. Conversion in at a rate approaching 1 billion dollars annually.
part to wartime output is possible in each instance.
Not all of 1941 output was available for arms purThe following table—though incomplete—gives some poses. About one-tenth of the production was exidea of the wartime uses to which a number of civilian changed among the machine-tool producers themselves.
Table 1.—Employment in Selected Industries Subject to
Curtailment
January 1942
SURVEY OF CURRENT BUSINESS
This widespread use of overtime is one key to the
difficulty of expansion. Actual employment (including
overtime) on the first shift accounted for two-thirds of
the total wage earners in September. Only one-fourth
were on a second shift and about 8 percent on the
third. For this reason, a still more intensive utilization
of existing facilities is possible.
Surveys of the Bureau of Labor Statistics show that
such an expansion is contingent on overcoming numerous difficulties. As suggested earlier, serious operating
bottlenecks exist in most plants and these must be
overcome in order that additional work on second and
third shifts be undertaken. Moreover, much of the
work on machine tools requires some degree of skill and
today necessary apprentice labor is available only after
Figure 1 .—Estimated Production of the Machine-Tool Indus- several months or more of preliminary training. Traintry and United States Exports of Machine Tools
ing programs within the industry are now widespread,
MILLIONS OF DOLLARS
80
and the process is now being stepped up.
The contribution of subcontracting to increased
machine tool output cannot be evaluated, but it is
known to be growing. Perhaps more important is the
fact that manufacturers of printing presses, laundry
machinery, shoe machinery, gears, and a long list of
other civilian machines are now undertaking the production of complete machine tools.
Conversion of machine tools in civilian lines to arms
output also offers an opportunity for relieving next
year's shortage. The outstanding illustration in this
connection is the automobile industry, which holds
more than 100,000 tools of various types. Only part
of these tools can be readily converted to arms production; the remainder are too specialized. The auto1936
1937
1938
1939
1940
1941
mobile
industry itself possesses facilities for undertaking
Source: U. S. Department of Commerce.
much of the conversion.
partial offset, civilian needs will be much smaller in
Recent Inventory Accumulation
1942. Export requirements will continue to be heavy.
Increased Use of Existing Plant.
Notwithstanding capacity operations in many lines,
Thus far, the growth of output has been accom- rising consumption, and growing priority controls, inplished through additions to plant and more intensive ventory accumulation in recent months has been the
utilization of existing facilities. Virtually all machine- heaviest on record. Stocks of manufacturers, wholetool builders added to their plant during 1941. At the salers, and retailers are all at peak volumes, both in
end of October, commitments for capital outlay on real terms and on a monetary basis. Altogether the
facilities for producing wartime machine tools had value of the inventories carried by these three types of
reached a total of 75 million dollars.
business was estimated to be 27 billion dollars at the
More important in raising output has been the more end of November, about 5}i billion higher than a year
intensive use of existing plant. The figure on page 2 earlier.
shows that the December-September increase in manAccumulation by manufacturers accounted for 3}i
hours worked on second and third shifts, and on over- billion dollars of the year's increase, while retailers
time, was much larger than the advance in man-hours and wholesalers added 1% billion and % billion, respecworked on the first shift. The largest increase was in tively, to their holdings. Of course, rising prices are
overtime. In December 1940, nine-tenths of the
being reflected more and more in inventory valuations;
laborers had worked overtime with an average work
week of 51 hours, or 11 hours of overtime. But by so the magnitude of the rise is considerably less in
September, 96 percent of the employees in machine terms of physical volume. Probably more than a third
tool plants were engaged in overtime work, with an of the increased inventory value occurring last year
was attributable to higher prices.
average of 54 hours a week.
In addition, one-fourth of the output in the first three
quarters of 1941 (information for the subsequent period
is not public) was exported, largely to the British
Empire. Only a few of the tools produced by the machine-tool industry went to civilian industries which
were not at least indirectly engaged in defense work
during the past year.
Despite the performance of the industry to date,
the machine tools available for defense must be greatly
expanded during the next year. The Office of Production Management estimated that even the arms output
scheduled last October would require roughly 2
billion dollars' worth of tools, and requirements have
been stepped up enormously since that time. As a
6
SURVEY OF CURRENT BUSINESS
More than half of the inventory rise during the year
ending November 30 was reported in the final 5 months.
Growing awareness that widespread shortages were
probable and that prices were likely to advance, led
during that period to very heavy protective buying
throughout the whole economy. All of the above types
of business inventories expanded—and at an accelerated pace.
The value of inventories of wholesalers was raised to
4y2 billion dollars at the end of November, up 300
million from June and 800 million higher than in November 1940. Stocks of food and produce dealers, as
well as those of dealers in electrical goods and industrial
chemicals, made the largest increases over the year.
On the other hand, dealers in commodities for which
demand has been exceptionally heavy in relation to
January 1942
rise was reported in all departments, with the largest
percentage increases in household appliances (85 percent) and in some types of women's apparel and accessories which are expected to be scarce.
Protective Buying by Manufacturers.
Though manufacturers' new orders have declined in
recent months and shipments have leveled off, the increase in the value of inventories held by them has been
the largest on record. The Department of Commerce
index of manufacturers' new orders stood at 211 in
November, as compared with the peak of 229 in June.
The shipments index likewise had fallen to 202 from the
September high of 208, a small rise in shipments of durables failing to offset declining shipments of nondurables.
From June to November, on the other hand, manufacturers' inventories rose in value on an average of
Figure 2.—Estimated Value of Business Inventories, End of 415 million per month.
Month
This record advance—about 16 percent in 5 months—
BILLIONS OF DOLLARS
20
has carried manufacturers' inventories to a total value
exceeding 15 billion dollars, the highest in history. Of
course, no small amount of the rise in value over the
15
past year reflects higher prices—perhaps one-half of
the total may be attributed to that cause.
MA NUFA C TURERS " - ^
It seems clear that widespread attempts have been
•
<**
10 made to protect future operations by covering material
requirements well in advance. This is further indiRETAILERS^
cated by the fact that raw materials have been piling
->"N
up at an increasing rate since June, when compared
'—T~
with the increase in goods in process. Of course, the
WHOLESALERS-/
latter also have increased markedly. Finished goods
(from the standpoint of the manufacturer) stocks have
1939
1940
not
grown, however, the entire inventory advance conSource: U. S. Department of Commerce.
sisting of raw and partly processed materials.
available supplies, such as hardware, lumber and buildIt is significant that the rise since June has been
ing materials, and machinery, showed less-than-average broadly distributed over almost all industry groups.
additions to stocks during the year, with metal dealers Inventories in the durable and nondurable goods inactually decreasing holdings.
dustries advanced alike, about 16 percent. In the preRetail inventories, currently valued at approximately vious 8-month period, stocks held by the durable group
7 billion dollars, also rose sharply after June, with the rose 17 percent and inventories in possession of nonheaviest accumulation concentrated in the autumn durable producers increased 7 percent.
months. The advance was much larger than is usual
As a matter of fact, the only two industries failing to
for almost all lines, even including automobiles. Stocks expand stocks since June were rubber and iron and steel
of cars and trucks, amounting to 383,000 units in No- and their products. In these instances, raw material
vember, were larger than at any previous time since shortages, strong demands for the finished products,
April as the new models met with temporary sales and in the case of iron and steel, the integrated form of
resistance.
organization, all have held back inventory accumulaExtremely large inventories were built up by de- tion.
partment stores, partly in anticipation of record holiday
Other industries producing war materials have condemands, but also as protection against shortages and tinued to add to their inventories, particularly the
rising prices. The Federal Reserve's seasonally ad- machinery, transport equipment, and automobile lines.
justed index of department store stocks (1923-25 = 100) Though war output is expanding and inventories
reached 95 in November, 2 points below October normally should be increasing, the raw materials used in
which was a peak for the past 11 years. A special war production are those whose supplies are most tight.
survey made by the Board of Governors revealed that For this reason, war industries would be expected to
the value of department store stocks had increased 35 cover their needs as far ahead as was feasible. That
percent in the year ending October 31. A substantial this was already occurring in August is evident from
_
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1
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^
SURVEY OF CURRENT BUSINESS
January 1942
information available on inventories of scarce materials gate crude. These manufacturers use large amounts
at that time.
of reclaim, combining a high percentage of reclaim to
This information also revealed a very uneven dis- crude in the production process. This is also the case
tribution of metal inventories among the different with the production of rubber heels and soles. Relaindustries and among the firms within an industry. tively small amounts of rubber are essential to the proSuch a distribution may not be conducive to a realiza- duction of many other commodities. Though singly
tion of the dominant objective at the present time: these uses are not large, their sum is sizable.
maximum military output. For this reason, the Future Rubber Supplies.
Office of Production Management has set up an invenIn preparation for the present emergency, the Governtory and requisitioning section to acquire raw mate- ment built up rubber stocks steadily throughout the
rials necessary for war industries whenever normal past two years. At the outset of 1941, total inventory
sources of supply are inadequate. This section will
Figure 3.—Rubber Consumption and Stocks
administer the Executive Order of November 19, 1941,
THOUSANDS OF LONG TONS
providing for the Administration of the Requisitioning
100
of Property Required for National Defense. RequisiCONSUMPTION
tioning will be used as a supplement to priorities whenA
ever priority orders are insufficient to get essential
CRUDE K.
materials to the right place at the right time. The
60
section will also administer the stipulation in Priorities Regulation No. 1, providing that inventories be
40
kept to the minimum practicable working level.
A RECLAIMED
Rubber
20
A,
^—<~
Rubber is the most widely used of the raw materials
0
whose supplies have been threatened by the outbreak
500
of war in the Pacific. More than 97 percent of the
STOCKS
Nation's crude rubber supply normally comes from
400
the area in which hostilities are now widespread. As
military requirements for the material are large and
300
stocks are limited, immediate action has been taken to
CRUD : CINCLUDING
/
GOVERNS?
\ENT
HOLDINGS)^*^
conserve available supplies and to assure their rational
distribution.
The consumption of crude rubber in 1941 was the
100
highest in history, probably running close to 800,000
GOVERNMENT,.
RECLAIMED
^
HOLDINGS
7k.»»*
long tons (on the basis of consumption statistics published for the past three quarters). In 1940, consump1939
1940
|94|
tion was 648,500 tons and in 1939, about 592,000 tons.
Source: All data for 1939 and 1940 and Government holdings for 1941 are from the
In addition, some 250,000 tons of reclaim rubber was U. S. Department of Commerce; other data for 1941 are from the Rubber Manufacturers Association, Inc.
used in the past year, almost a third more than in 1940.
Synthetic rubber, while produced in larger volume, was of crude was 309,000 long tons; by October—the latest
still relatively unimportant in 1941 as compared with month for which statistics were made public—crude
crude and reclaim.
stocks had risen to 455,000 tons. In this period GovA large part of the rise in rubber consumption repre- ernment stocks moved from 134,000 to 266,000 tons,
sented heavier civilian use. Information is not now while those of industry apparently increased from
available on the breakdown of consumption among 175,000 to 189,000 tons.
various civilian lines for 1941; however, some idea of
Since October, stocks have probably been further
the relative importance of the various uses may be ob- expanded. However, neither the Government nor
tained from table 2, which presents consumption industry was successful in accumulating an inventory
statistics (not altogether complete) for 1939. As is of the size desired. The Rubber Reserve Corporation
evident, automobiles use much the largest proportion, had purchased a total of 357,000 tons through Septemtaking almost three-fourths of the crude rubber con- ber 13, of which some 207,000 had either been delivered
sumed in 1940. Automobile needs also have taken or were afloat at that time. Consumption was remuch reclaim rubber, tires, tubes, and other accessories strained after midyear (see fig. 3) by order of the Office
all embodying a very large proportion of the total.
of Production Management, but a variety of circumManufacturers of mechanical rubber goods were the stances held back the rate of accumulation.
second largest civilian consuming group, but they
Meanwhile, output of reclaim rubber is being exprobably have taken less than one-tenth of the aggre- panded steadily. At present the rate is in excess of
(END
r
OF MONTH)
...*•**
i
SURVEY OF CURRENT BUSINESS
300,000 long tons annually, and estimates of collectible
supplies of scrap indicate that an output of 500,000
tons can be maintained for probably 3 years. Plant
capacity for reclaim, of course, needs to be increased in
order to realize such a production. While reclaim cannot be used for all purposes, the proportion of reclaim to
crude can be varied widely in many products, including
tires and tubes.
Table 2.—Consumption of Crude Rubber, by Products, 1939*
[In long tons]
January 1942
Mexico is in a somewhat special position because
large quantities of the guayule shrub, which also yields
rubber, grows wild there. In 1940, our imports of
guayule rubber from Mexico were 3,634 tons. However, Mexico imported plantation rubber in about the
same volume. Altogether, the present crop of guayule
shrubs, if completely exploited each year, might yield
over twice the 1940 figure for an indefinite period.
How much of this could be available to the United
States is not certain.
Civilian Consumption Curtailed.
Percent
of total
Heavy military requirements in the face of short
supplies have made an immediate curtailment of civilian
Rubber tires and inner tubes:
rubber consumption imperative. On December 11,
Pneumatic casings, including solid and cushion tires
358, 791
Inner tubes
51, 731
sales of new tires were prohibited and rigid restrictions
15,970
Boots and shoes
22, 642
Rubber heels and soles, including slab soling
were placed upon the handling and processing of a
9,291
Rubberized fabrics and rubberized clothing (finished)2
Mechanical rubber goods; rubber flooring; rubber mats and
number of less important rubber products. Producmatting
47,472
3,328
Hard-rubber goods
tion of the latter eventually will be eliminated, while
Rubber thread, rubber cement, and rubber gloves
9,296
Tires sundries and repair materials, rebuilt or retreaded tires,
the rationing of rubber for automobile use was started
including camelback
16, 973
Other manufactures of rubber, including druggists' and medion January 4.
cal sundries, balloons, stationers' rubber bands, erasers, golf
and tennis balls, toys, and sponge-rubber products
28, 216
5
For the time being rationing applies chiefly to new
Grand total562, 810
100
automobile tires, of which there are said to be between
7 and 8 million in stock at the start of the year. In
1 This table does not include consumption amounting to approximately 30,000 tons.
2
Includes bathing caps and bathing suits.
the first 11 months of 1941 tire production rose to 58.6
Source: Bureau of the Census.
million casings; in recent years replacements have
A third source of rubber supply is the growing pro- accounted for about two-thirds of total tire demand.
duction of the synthetic material, made largely from a Hence, it was inevitable that new tires could be made
petroleum base. Construction of new plant to bring available only for essential civilian use. The quota
the total capacity of this industry to 80,000 tons made available for January was 357,000, about 7 percent
annually is already under way. Output last year ap- of the shipments in January 1941.
proximated 12,000 tons.
At present essential uses include only the following
It is apparent that reclaim supplies must eventually groups:
dwindle as scrap becomes scarce with the declining
1. Vehicles required by the medical profession.
use of crude. For this reason, further expansion of
2. Vehicles essential for various public services, such as fire,
synthetic capacity is needed. The Supply, Priorities,
and Allocations Board has already tentatively approved police, public health, etc.
3. Vehicles used for necessary public transport.
plans for tripling capacity, which would, if made
4. Trucks used "exclusively" for ice and fuel delivery, transeffective, eventually bring the total to 160,000 tons
annually. Whether or not such an expansion will be portation of materials for construction and maintenance of pubundertaken hinges on further review of the metals and lic roads, public utilities or production facilities, defense housing
and military establishments; trucks used by essential roofing,
machinery outlook for the coming year.
Production of crude rubber in the Western hemi- plumbing, heating and electrical repair services, or waste and
sphere comes mostly from wild trees and at the present scrap dealers; by any common carriers; and for transporting raw
time is quite limited. Peak output of about 55,000 materials, semimanufactured goods, and finished products, with
tons was reached in 1912, but since then, production has the exception that no certificates may be issued to transport
declined. Production last year approximated 24,000 such raw materials, semimanufactured or finished goods "to
tons, of which 17,600 tons were exported from the the ultimate consumer for personal, family, or household use."
5. Farm tractors or other farm implements—except automocountries in which it was collected. As far as the w^ar
biles or trucks—for which tires are essential to operation.
period is concerned, it may be possible to double pro6. Industrial mining and construction equipment—except
duction in Latin America, although even this could be
automobiles and trucks—for which tires are essential to operachieved only over a period of 3 or more years. Most
Latin American rubber consumers, other than those in ation.
Brazil, imported plantation rubber from the Far East;
No restrictions have yet been placed upon the sale
hence they face a problem similar to that of the United of secondhand tires nor upon the retreading and recapStates and may require part of the South American ping of tires. The latter process under present practice
output.
requires about 40 percent of the rubber in a new tire
Product
Tons
SURVEY OF CURRENT BUSINESS
January 1942
9
for movement of sugar from Caribbean areas may be
one of the factors limiting supplies.
The heaviest import of sugar is obtained from Cuba.
In 1941, the Cuban output of sugar was restricted to
2.75 million short tons, but more than a million tons were
The Framework of Rationing.
held in stock at the beginning of the year. Of total
The rationing of rubber tires to consumers introduces available Cuban supplies, the United States obtained
a form of control which heretofore this country has not about 2.8 million tons, or one-third of its aggregate
experienced. Sugar rationing in the last war was a raw sugar consumption.
comparatively simple administrative job because w^ide
Nearby Puerto Rico—conveniently located to Atdifferences in the needs of individual consumers did not lantic seaboard refining ports—restricted its 1941 crop
exist. Unfortunately, this is not true with motor trans- to 930,000 tons, most of which was shipped here. Small
port, and even individual cases within a particular quantities of sugar also were sent here from Peru and
group need to be settled on their ow^n merits.
other areas. A large proportion of the sizable sugar
A local type of control is required and this is being
set up in the form of State and local rationing Boards. Figure 4.—Production of Raw Sugar in Continental United
States and Principal Areas Supplying the United States, by
The State Board acts chiefly as coordinating agency
Crop
Years
and serves as liaison between the national control (the
MILLIONS OF SHORT TONS
Office of Price Administration in this case) and the local
I 0
Boards.
The monthly quota of tires to be sold in the country
as a whole is determined by the national control.
After 2 percent of the total is set aside as a national
pool, the remainder is allocated between States on the
basis of sales in the corresponding month of the previous
year. Within States, allocation is on the basis of commercial vehicle registrations in each district, though
2 "pools" comprising 8 percent of the State total also
are set up for adjustments between districts. Eligible
purchasers of new tires appeal to the local Boards who
1929
1932
1937
1938
1939
1940
1941
o.o.4i-66s
either grant or refuse certificates of purchase.
Note.—All data for 1941 arc preliminary. The 1941 figure for Cuba is the estimated
of sugarcane to go to sugar. Data for Continental United States include
The administrative organization for rationing now amount
both beet and cane sugar and for the other areas cane sugar only.
being established is similar in broad outline to that
Source: U. S. Department of Agriculture.
employed in Great Britain for the allocation of petroleum. Howrever, the ability of the petroleum control crops of Santo Domingo, Haiti, and the British West
to allocate existing supplies most efficiently is much Indies is not available to the United States, as it already
greater than is possible at this time with rubber. For goes to Great Britain under long-term contracts.
stocks of rubber held by ultimate consumers in the form
Domestic output of beet and cane sugar has been exof tires and other commodities are large, and are as panded greatly from the small production available
yet subject to only an indirect control; whereas stocks during World War I. The 1941-42 crop will be approxiof petroleum in the hands of ultimate consumers are mately 1.5 million tons of beet and 450,000 tons of cane
seldom large.
sugar. The 1941 beet sugar output was smaller than
that of the previous year, however, as acreage allotThe Sugar Outlook
ments were restricted.
Some 235,000 tons of domestic corn sugar also was
Sugar supplies have also been affected by war in the
obtained
during 1941, though most of the sugar subFar East. Normally some 70 percent of United States
stance from corn appears not in the form of sugar,
sugar comes from offshore areas which require ocean
but as syrup.
transportation.
Approximately one-eighth of United States sugar Smaller Supplies in 1942 Possible.
(800,000 tons) came from the Philippine Islands in 1941.
The temporary loss of Philippine supplies and the
A slightly larger percentage—900,000 tons—was shipped likely curtailment of Hawaiian sugar may not be
from Hawaii. The former source of supply is of course entirely replaced. Domestic output of beet sugar in
not available at the moment and the latter will probably 1942 should be raised at least 400,000 tons to the 1940
be curtailed as Hawaiian resources are diverted to other level, recent extension of the Sugar Act and the increase
uses. Shipping space for Hawaiian sugar may not be in benefit payments to domestic producers being of some
a problem, because of the movement of other supplies aid in this respect. Domestic cane sugar also can be
to those Islands. However, availability of ship tonnage expanded slightly. However, larger corn sugar sup
and lengthens the life of a good casing by another 80
percent. For this reason, tires for ordinary civilian
use are expected to be renewed by either recapping or
retreading.
433529—42
—2
10
SURVEY OF CURRENT BUSINESS
plies can be achieved only by constructing additional
grinding capacity, and this may not be possible in the
light of machinery requirements.
Puerto Rican sugar should be expanded some 300,000
tons as crop restrictions are lifted. But this gain may
be countered by a decline in imports from Cuba.
Cuban production this year can be raised to approximately 4.3 million short tons—the 1941 sugar crop was
about 4.1 million tons—including both raw sugar and
high test molasses (expressed in terms of sugar). Much
of the cane is converted into molasses for the production
of alcohol. Last year, Cuba produced high-test molasses equivalent to 1.4 million tons of sugar, largely for
the United States, and this year the equivalent of at
least 1.2 million tons of Cuban sugar is similarly needed.
Canada and Great Britain require part of the remaining cane supply, as does Cuba herself. The large
Cuban sugar stocks (more than 1,000,000 tons) existing
at the beginning of 1941 have now declined to less than
300,000 tons in the face of last year's restricted crop
and the heavy world demand: Hence, it is probable
that even if shipping facilities can be made available,
1942 exports to the United States will fall to around
2.3 million tons.
It thus is clear that the size of next year's sugar
supply depends upon a number of circumstances, many
of which are uncertain at the present time. Of these
latter factors, perhaps the most important are the size
of the Hawaiian crop, the quantity that will be moved
from Cuba with available shipping, the requirements
for conversion of sugar into industrial alcohol, and the
need on the part of other Allied nations for supplies
from this country.
Assuming a curtailed but yet substantial Hawaiian
crop, and adopting a reasonably optimistic view of the
other matters, total sugar supplies available to the
United States from the 1942 world crop can be in the
neighborhood of 6.5 million tons. This is slightly less
than the 6.85 million tons consumed in 1939, and about
a tenth under the estimated consumption last year.
Sugar stocks available in this country can ease the
tightness of supply. Deliveries during 1941 approximated 7.9 million tons. Consumption was smaller
than this, and about half a million tons are estimated
to have gone into invisible stocks held by food manufacturers, wholesalers, retailers, and other industrial
consumers. Visible stocks in the hands of refiners and
importers on January 1 totaled about 2 million tons, a
fifth lower than a year earlier.
Inventory Accumulation Stopped.
Inventory accumulation in the final quarter of 1941
began to interfere with the normal flow of supplies.
As the movement was accentuated by the changed
outlook subsequent to the outbreak of war, the Office
of Production Management moved quickly to halt
it. This was accomplished by an order limiting shipment of sugar to a " receiver7' in any one month to
January 1942
either the amount received in the corresponding month
of 1940 or an amount which raised the "receiver's"
stocks to 30 days' supply, whichever is the smaller.
Moreover, any stocks in the hands of "receivers" exceeding 60 days' supply by more than 2 carloads, were
frozen. Likewise, the Office of Price Administration
established maximum wholesale prices for refined cane
sugar on the basis of 5.45 cents per pound f. o. b.
seaboard points.
Table 3.—Consumption of Sugar in 1939
[Thousands of short tons]
Industry groups
Refined sugar:
Household and restaurant
Industrial (total)
Bread and bakery products
Confectionery and related products..
Canning and preserving
Flavoring extracts and sirups
Beverages:
Nonalcoholic
Alcoholic
Dairy products
Meat packing
Grain mill products
Tobacco
Foods, n. e. s
Quantity Percent
of total
4,128
2,272
574
541
300
230
234
15
182
26
26
21
123
Total refined sugar
6,400
Haw sugar equivalent.
6,848
64.7
35.3
8.9
8.4
4.7
3.6
3.7
.2
2.8
.4
.4
.3
1.9
100.0
Source: IT. S. Department of Commerce.
The incidence of any sugar curtailment would be
spread over a number of industries as well as household consumers. Table 3 reviews the distribution of
sugar consumption in 1939. Households and restaurants used directly about two-thirds of the sugar
consumed that year, while various industrial consumers
required the remainder. Consumption gains in 1941
were concentrated largely in industrial use, the increase
in household and restaurant consumption since 1939
probably being less than 5 percent.
The Supply of Lead
One illustration of the extreme pressure on metal
supplies is afforded by lead. Although acute shortages of copper, aluminum, and several other nonferrous metals were in sight by the end of 1940, lead
supply then occasioned little anxiety. The United
States before 1940 had been a net exporter of refined
lead. The output of Mexican producers, which had
formerly gone to European countries, was now available for this country's needs. Moreover, no direct
war needs impinged upon lead supply to quite the extent
that the plane production schedule affected aluminum
and magnesium requirements or to the extent that
shell production altered the copper outlook.
Of course, indirect defense requirements—in construction, transport, the utilities, and the like—
were expected to be stepped up very considerably.
However, the degree to which lead would be in demand
as a substitute for other metals even in more scarce
supply was not appreciated. As a simple illustration,
January 1942
lead going into foil rose from some 2,000 tons a month
at the outset of 1941 to more than 6,500 tons in recent
months—far more than was anticipated.
Large Rise in Imports.
The lead supply of the United States—approximately 1.1 million tons in 1941—is derived from several
sources. Lead refined from domestic ores and base
bullion was less than half the total—about 480,000
tons in 1941, one-tenth more than in 1940. Refining
of secondary or reclaimed lead in this country added
another 200,000 tons (10 percent under the volume of
the previous year).
To the above total must be added the lead refined
from imported ores and base bullion. This fell to
80,000 tons in 1941, about one-fifth less than in 1940,
largely as a result of a shift to imports of refined lead.
The latter, as in the case of copper, have been expanded
tremendously since the outbreak of war. If imports
for the year were at the rate of the first 9 months, they
would have exceeded 250,000 tons in 1941, compared
with 150,000 tons in 1940 and only 7,000 tons in 1939.
An extremely large proportion of the 1941 import of
refined lead came from Mexico, a small proportion
was shipped from Peru, and a still smaller amount
came from Australia. Imports of ore and base bullion
also were obtained from those countries, as well as
from Newfoundland, Argentina, Canada, Africa, and
Chile.
It is of interest to note that while some three-fifths
of the lead imports from Mexico were water-borne,
rail facilities can probably handle any increased load
imposed by reallocation of shipping facilities. In this
respect the bulk of foreign lead supplies are more
fortunately located than are those of copper.
Lead refining in recent months has declined almost a
fourth below the first-quarter 1941 volume. In part,
this is because refiners no longer can draw on accumulated ore and base bullion stocks. It also has been
suggested that operations were somewhat retarded in
expectation of a change in the price ceiling on lead,
which since April 1941 has been 5.85 cents per pound.
11
SURVEY OF CURRENT BUSINESS
Large Saving From Automobile Curtailment.
The lead supply for 1942 could probably be increased
only by 10 percent at the maximum. To achieve this
advance, both domestic mine output and imports
would have to be increased. Refining capacity now
appears to be adequate for handling ore and base
bullion supplies that are likely to be available.
As war output continues to expand and substitution
of lead for other metals gains impetus, a further
intensification of the current stringency might be
expected. This will be relieved considerably, however,
by the curtailment of automobile production. More
than 220,000 tons of lead, or 28 percent of total supplies,
went into storage batteries alone in 1940. Other uses
Figure 5.—United States Supply of Refined Lead
THOUSANDS OF SHORT TONS
1,200
•
n
1•
1,000
800
600
400
200
o
nH
MM
iftrtn
mltll
i iiiiii
1925-29 '36
AVERAGE
'37
'38
'39
'40
'41
GENERAL IMPORTS OF
REFINED LEAD
RECOVERY OF
SECONDARY LEAD
.REFINED FROM FOREIGN
ORE AND BASE BULLION
REFINED FROM DOMESTIC
~*~ORE AND BASE BULLION
O.O. 41-610
Source: Data for 1925-29 average and for 1936-40 are from the U. S. Bureau of
Mines; estimate for 1941 by the TJ. S. Department of Commerce.
in 1940 included 14 percent for cable sheathing, 8 percent in building, 8 percent in white lead (paint), 8
percent in red lead and litharge, 3 percent for solder, 3
percent for foil, and 28 percent in a variety of other uses.
Lead has been subject to various controls since March
of last year, when exports were placed under license.
It was included as one of the metals placed under
inventory control on May 1. Since October 4, lead
has been under full priority control. Thus far, however, allocation of the entire supply has not been undertaken as in the case of copper and aluminum.
12
SURVEY OF CURRENT BUSINESS
January 1942
Direct Price Control in Great Britain
By E. R. Hawkins
Great Britain, as in this country, the basic cause for
INrising
prices has been the increase in monetary
demand relative to the supply of goods available for
sale. Consequently, the primary measures for control
of prices are those designed to increase commodity supplies and to decrease, through taxation and savings, the
amount of purchasing power available for civilian expenditure on goods. As suggested in a previous article,
these broad measures may be insufficient because it is
difficult to increase supplies after full employment has
been attained or to raise taxes and savings commensurate with the enormous increase in purchasing power
created by government expenditures for war purposes.
Accordingly, the governments of both Great Britain and
the United States have engaged in direct control of
specific commodities by price orders.
Such direct price control not only supplements fiscal
control of the general price level, but also provides
"selective" control of individual commodities for specific
purposes. Some of these purposes are:
1. To stimulate production of essential goods and
discourage production of nonessentials.
2. To maintain price balance between goods.
3. To prevent profiteering on specific items.
4. To permit lower income groups to obtain goods
important for civilian health and morale.
the realm, the efficient prosecution of the war, or for
maintaining supplies and services essential to the life of
the community. Regulation 55 of the Defence (General) Regulations of 1939, issued under authority of the
Emergency Powers Act, specifically provides that any
competent authority may by order provide for controlling the prices at which commodities may be sold.
Within the Ministry of Supply, separate sections
were set up for the control of aluminum, alcohol,
molasses and solvents, cotton, flax, hemp, iron and
steel, jute, leather, nonferrous metals, paper, silk and
artificial silks, sulphuric acid, fertilizers, timber, and
Figure 6.—Indexes of Wholesale Prices in the United Kingdom
AUGUST 1939 = 100
80
I
60 —
. „ _
_ _ ^
•
, - - _
—
-—
O
FOOD AND TOBACCO
^
^^L/^
...
140
3
C
=
___
•
-^INDUSTRIAL
MATERIALS
AND MANU FACTURES
/
\~0TAL,
ALL ARTICLES
120
Methods of Direct Price Control
Direct control of prices in Great Britain is decentralized, no single agency having been given over-all price
jurisdiction. Rents are controlled by the Ministry of
Health, shipping and transport by the respective
Ministries of Shipping and of Transport, electricity,
gas, water, and fuel by the Board of Trade, certain raw
materials by the Ministry of Supply, food by the Ministry of Food, and nonfood consumers' goods by the
Board of Trade. The methods of control exercised by
these agencies differ greatly.
Raw Materials.
The Ministry of Supply, which was established on
July 13, 1939, has the task of controlling the prices and
supplies of rawT materials, and of providing for the
Army's entire needs of munitions, stores, and equipment. Control of prices is based upon the Emergency
Powers (Defence) Act of 1939, which was passed a few
days before the declaration of war.2 This act gives
the Government broad powers to make any regulations
that appear necessary or expedient for the defense of
1 This is the second of two articles on the control of prices in Great Britain. Although it is based on the latest data available, it is, of course, subject to reservations
in respect to recent changes. The first article, which appeared in the December issue
was concerned with the over-all fiscal and indirect controls of the general price level.
2 2 and 3 Geo. VI, c. 62 (1939).
I
80
A
S
I
I 1
0
1939
N
D
J
F
I
M
,
A
1 1
M
J
1
J
1940
1 1
A
S
0
I l l l
1 1
N
D
J
F
M
A
i
M
i
0
I l l l
i
J
1941
A
S
0.D
0
N
0
41-403
Source: Indexes were recomputed with August 1939 as base from data published by
the Board of Trade, London.
wool. Since the controllers of the various sections act
with a great deal of independence, and work closely
with the industries which they control, the price orders
issued have shown considerable diversity.
In most cases the maximum prices originally established were approximately those prevailing at the
time of the price order. Different prices are usually
specified for different grades. For example, the Wool
Waste (No. 1) Order contains a table showing maximum
prices for 35 different grades. Grades not scheduled
are priced u in proportion," according to trade custom.
Different prices are also established for different quantities, in many cases. For copper, lead, and zinc,
additions to the fixed maximum prices are provided for
orders of less than 4 tons, and still higher prices for
orders of less than one ton. Sometimes the maximum
scheduled prices include delivery cost to certain areas
(e. g., the West Hiding of Yorkshire or Lancashire, for
wool), with provision that extra transport costs may
be added for delivery elsewhere.
January 1942
Sales to the Government may be made at any price
agreed upon by the Ministry of Supply and the seller,
irrespective of any price order. When the Government becomes the sole buyer, as it has in the case of
many important raw materials, no new price schedules
are issued. The Government may, however, issue lists
of the prices at which it sells.
Food.
As the sole importer of food, and the sole buyer and
seller at the raw material level, the Ministry of Food
has extensive power over food distribution. In addition to setting its own selling prices, the Ministry
schedules maximum prices at various levels for a great
number of foods, including butter, eggs, tea, cheese,
bacon, sausages, meats, lard, fish, potatoes, sugar,
pepper, onions, peas, tomatoes, beans, yams, dried
fruits, canned fruits, nuts, margarine, coffee, condensed milk, flour, and bread. Individual schedules
are issued for each commodity, specifying in most cases
both the wholesale and retail prices. Detailed grade
and variety classifications are used; for example, the
bacon order lists 51 different prices for different varieties of bacon and ham. In some cases specifications
are laid down as to authorized sizes and quality. The
scheduled prices include normal delivery and service
charges; extra services requested by the buyer may be
charged for at rates which are sometimes specified in
the order and sometimes covered merely by the requirement that they be reasonable. Credit may not be the
basis for extra charges; rather, the orders sometimes
state that the prescribed prices may be reduced by
specified maximum discounts for payment within a
certain number of days. This provision applies, of
course, only to those cases in which the Ministry sets a
prescribed price rather than a maximum price.
Some geographic price differentials are established.
Different prices are scheduled for Northern Ireland
than for Great Britain; in some cases, e. g., for meats,
the prices are different for Scotland. Sometimes
extra charges are permitted for delivery beyond 10 or
25 miles from the seller's establishment. Geographic
price differentials for oranges and rabbits were found
to be necessary because they did not move any farther
from the ports or producing areas than was necessary
to sell the entire supply. The country is divided into
seven areas for differential retail prices for tomatoes,
and the Ministry of Food itself pays the transportation
costs for fish, from the ports to inland centers.
The maximum price schedules do not provide for
different prices in the various kinds of retail stores.
In some cases, however, prices have been frozen as
they were in the individual establishment on a certain
date. For example, an order effective January 13,
1941, froze prices as of December 2, 1940, on a long list
of unrationed foods.3 Price schedules have subse
13
SURVEY OF CURRENT BUSINESS
quently been issued for many of the items included in
this order.
Control of prices in the vertical channel has not been
complete. The Food Price Investigation Committee
reports that speculative middlemen have inserted themselves in the channel. Goods change hands many
times without leaving the warehouse. In one case
cited, canned soup, sold by manufacturers at 6s. 6d. a
dozen, went through seven successive middlemen, and
was retailed at 14s. 6d. a dozen. Another example is
Figure 7.—Indexes of Prices of Selected Foods, First of Month,
in the United Kingdom
SEPTEIMBER 1,
225
1
939 -- 100
200
K
A
POTAT OES
175
r
f
I
/
SUGAf
/
125
°l x / /
\rf
100 ?// ,
75
i
i i
1939
X-
ACON
BEEF
o-o-o-
\ . \
1 I
i
;
! i
1940
i
0-O-
1 1
.1
o
0 —C
!
1
1941
1 1 1 1 1
0 0 41-663,
Source: Ministry of Labour, London
canned marmalade, which, imported at 8}*>d. a tin,
retailed at 3s. 6d.4
Manufactured food products have not been effectively controlled until recently. "Food-substitute"
manufacturers have been able to clear extremely high
profits on the sale of such things as "tea stretchers"
which are 90 percent bicarbonate of soda, egg substitutes made from flour and soda, ice-cream substitutes
which are 96 percent flour, and citric-fruit substitutes,
made from diluted citric acid. An order issued in
October 1941, however, brings the manufacture of food
substitutes under license control.
s The Food (Current Prices) Order, S. R. and O. (1941) No. 23. The foods included were coffee, coffee essence, cocoa powder, cocoa butter, chocolate, canned and
bottled vegetables, canned pork and beans, honey, meat and fish pastes, meat extracts, shredded suet, dead poultry, rice, tapiocas and sagos, macaroni and spaghetti,
biscuits, soups, processed cheese, pickles, sauces and relishes, custard, jellies, edible
nuts.
* The Economist, May 3, 1941.
14
SURVEY OF CURRENT BUSINESS
Januarv 1942
There is no one general principle on which food
prices are based. The Minister of Food has stated
that it is impracticable to lay down any general formula,
because of the great diversity of trade and circumstances.5 Some prices, as noted above, are frozen as
of a certain day. In other cases, the Minister of Food
arrives at prices and margins by bargaining with the
trade interests involved. In this negotiation, cost data
supplied by the Director of Costings is vised, but only
as one consideration. The Committee of Public Accounts reports that, in general, food prices have been
set high enough to cover the costs of unfavorably
placed traders.6
The maximum prices are established with due regard
to the prices at which the Ministry sells to the trade, and
in many cases the Ministry takes losses on resale in
in December 1939, the act was made applicable to about
140 groups of lower-priced items of clothing and household textiles and utensils, to take effect January 1, 1940.
Not all price-ranges were covered, but only goods selling
below designated prices.9
The list was broadened in June 1940 to cover almost
all items of the kind handled by department stores, and
many industrial goods, including yarn, thread, rope,
twine, leather and leather substitutes, unvulcanized
rubber and rubber substitutes, domestic furniture,
radios, gramaphones, cycles, hardware, cutlery, fabrics
of yarn or thread, textile fabrics, domestic ironmongery
and turnery, floor coverings, chinaware, glassware, soap,
clocks and watches, boots and shoes, clothing, household textiles, toilet preparations, cosmetics, perfumery,
drugs, stationery, candles, matches, electric lights,
garden implements, hand tools, sandbags, crates, boxes,
Figure 8.—Indexes of Cost of Living, End of Month, in the bags, cartons. In this Order, goods of all price ranges
United Kingdom
are included.10
AUGUST 31, 1939 » 100
200
Although the act conferred power to fix prices at all
levels,
it was applied chiefly to distributors. A signi180
ficant feature of this price control is that uniform maxiCLOTHING
mum prices w^ere not set for all sellers, but each seller
160
was required to maintain the prices he charged on
140
August 21, 1939 (plus permitted increases). Hence,
J* TOTAL^
the competitive price structure was frozen as of that
120
date, subject to variations for differential changes in
"
~^-~FUEL AND LIGHT
cost. The chief problems raised by this type of price
100
^RENT
control have to do with increases permitted for in1 1 1 I 1 1 1 1 1 ! 1
80 1 I ! 1
creases in cost, the relationship of prices at different
A
levels, and the maintenance of uniform resale prices
1939
1940
1941
oo.4,-s*»
1
Includes some items not shown separately on this chart.
for trade-marked goods.
Source: Indexes were recomputed with August 31, 1939, as base from data pubThe Price of Goods Act itself is rather vague on the
lished by the Ministry of Labour, London.
subject of permitted increases. It says "In this Act
order to permit the distributors to sell at lower prices. the expression 'permitted increase' means, in relation
It is stated that the Government is spending at the to any price-regulated goods sold . . . in the course of
rate of £100 million a year on such subsidies. (Total any business, an amount not exceeding such increase
justified in view of changes in the busifood sales in 1939 were valued at £1,522 million.) Sub- as is reasonably
u
In an appended schedule, the following
sidies have been especially heavy for milk, home-killed ness . . ."
meat, and bacon.7 In some cases, the system of sub- matters are listed as ones to be regarded in fixing persidies is used directly to control prices; for example, the mitted increases: Cost of raw materials and goods, exMinistry announced in December 1940 that it would penses of manufacturing, cost of maintenance and impay rebates on flour, equal to }id. per quartern loaf, for provement of plant, and rent, insurance premiums,
all bread sold at a price not exceeding 8d. per quartern, wages and salaries and reasonable remuneration for
with the intent that bread then being sold at 8}id. services, administration and establishment expenses,
pensions, benevolent, and welfare schemes, customs
would be reduced to 8d.8
and excise rates, and interest on borrowed money,
Nonfood Items—The Price of Goods Act.
The basic law controlling the prices of nonfood con- transport charges, sales promotion, bad debts, and "the
sumers' goods was the Price of Goods Act of 1939, which total volume of the business over which the overhead
gave the Board of Trade power to establish the prices expenses thereof fall to be spread."
This language would permit the Board to administer
charged on August 21, 1939, as basic permitted prices,
the
act by review of the costs of individual firms, or by
subject to adjustment for changes in costs. By an order
maintenance
of either fixed money margins, or fixed
8
£?
1
1
1
1
1
1
1
!
1
1
1
Select Committee on National Expenditure, House of Commons, Eleventh
Report, August 8, 1940.
6 The Economist, August 23,1941.
i Schivenger, Robert B., "Control of Agricultural Prices in the United Kingdom,"
Foreign Agriculture, June 1940, p. 378.
s The Economist, December 28, 1940.
» The Prices of Goods (Price Kegulated Goods) (No. 1) Order, 1939, S. R. and O.
No. 1813.
10 The Prices of Goods (Price Regulated Goods) Order, May 10,1940, S. R. and O.
(1940) No. 685.
11 Price of Goods Act, 1939, 2 and 3 Geo. VI, ch. 118, sec. 4.
January 1942
SURVEY OF CURRENT BUSINESS
percentage margins. At first the Board of Trade
adopted the policy of fixing dealers' net profits per
unit, in terms of money amounts. The Board permitted
increases in price sufficient to cover increased cost of
goods and increased operating expenses of the business
as a whole, in proportion to the share of the total expense borne by that kind of goods before the war, plus
the same money net profit per unit as before the war.
However, this meant that when costs were raised the
percentage of net profit on each unit was decreased.
It was found to be difficult to enforce this; dealers,
in the main, set their prices as before by using their
customary percentages of mark-up. Consequently,
in July 1940 the Board approved a new formula, as
follows:
Permitted price = pre-war base price + increase in cost
of goods + pre-war percent of mark-up applied to increases
in cost of goods + a further mark-up on the total of the
above which was meant to cover any increase in operating
cost.
According to this formula, merchants are permitted
the same percentage of mark-up as before the war,
plus an additional percentage to cover increased expenses of operation. It might appear, then, that
profits would be greater, for the same percent of markup applied to a higher cost of goods results in a larger
absolute money margin, per unit of goods. The total
effect, of course, depends upon what happens to the
volume of sales, for if fewer units are sold, total money
gross margin may be low^er in spite of the higher
margin per unit.
Taxes and insurance have raised many problems
for distributors' pricing. Persons holding stocks are
required to pay one-half percent a month, or 6 percent
a year, on the value of goods held, as a premium for
war-risk insurance, which provides compensation for
merchandise damaged by enemy action. In the early
days of the war, there was much complaint that manufacturers and wholesalers were passing this cost on to
retailers in the form of a 6 percent rise in prices. The
President of the Board of Trade pointed out in the
House of Commons that such a charge is improper, for
on stocks that turn over many times a year, a premium
charge of 6 percent a year on the average inventory
carried might represent much less than a 6 percent
increase in cost.12 The Multiple Shops Federation, in
September 1939 recommended to its members that they
should not accept, on any consignment of goods, a
surcharge of more than 1% percent on account of war
insurance.13
The Purchase Tax of October 21, 1940, imposes a
tax of 33% percent of the wholesale value on many
nonessential consumers' goods. This tax is collected
at the wholesale level, but is then passed on to retailers.
The Central Price Regulation Committee ruled that
retailers could add only the amount of the tax to their
12 Baity He*ald (London), September 21, 1939.
" London Times, September 20,1939.
15
prices, thus giving a smaller percentage of mark-up,
e. g., 20 percent mark-up would be reduced to 16 percent
for an item bearing the full 33}i percent tax. Retailers
contended that the higher prices would reduce unitsales, and thus increase expenses per unit. The
Committee informed them that if their expense ratios
should rise, they could adjust margins according to the
formula approved by the Board.
A further problem arose when the tax was imposed,
in that retailers had stocks on hand on which the tax
had not been paid. The Committee ruled that such
stocks should not be raised in price. Retailers pointed
out that this would mean that, with new stocks coming
in on which the tax had been paid, there would be two
prices for the same thing. A solution was found by
averaging the taxes over the new stocks and the old
stocks.
It has been noted that the Price of Goods Act of 1939
did not give the Board of Trade power tofixprices, but
merely to designate which goods the individual seller
should not raise in price without proper justification.
Section 5 of the act, however, did permit the setting of
uniform permitted prices for all sellers, upon application
of a body of persons representative of the trade.
The purpose of this provision was to permit resale
price maintenance on trade-marked goods, a practice
which was prevalent in England long before it was
legalized in this country by the passage of "Fair Trade"
laws. It may seem odd that in wartime England there
should be any necessity for regulations prohibiting
price-cutting. Yet as late as the spring of 1941 the
trade magazines were still calling upon the Proprietary
Articles Trade Association to exercise vigilance in maintaining prices and margins.14
Non-Food Items—The Goods and Services (Price Control) Act
of 1941.
The Price of Goods Act was supplemented in June
1941 by the Goods and Services Act, which gives the
Board of Trade power to fix maximum prices or maximum percentage margins of profit for manufacturers,
wholesalers, and retailers.15 Maximum charges may be
fixed for performing services in relation to the goods,
and provision is made for control of the prices of secondhand goods. Different maximum prices may be set
for goods or services sold by businesses of different
classes.
Various loopholes of the original act of 1939 are suggested by the modifications in the new act. Thus,
section 4 enables the Board to stop the repeated resale
at the wholesale stage of goods in short supply, with
resulting inflation of price. This was possible under the
original act, inasmuch as each seller was permitted to
cover his costs of operation, and there was no ceiling on
the price the good could ultimately attain through sale
and resale. Collusion or reciprocity between firms
» The Economist, March 8,1941.
» 4 and 5 Geo. VI.
16
SURVEY OF CURRENT BUSINESS
would not be necessary in order to give rise to this
practice, for anyone who succeeds in getting a supply of
scarce goods may insert himself in the channel and
resell at enough mark-up to cover his costs, merely
because buyers have difficulty in getting enough goods
through the shorter, cheaper channel. Accommodation
sales between wholesalers and between retailers are permitted provided that no increase in price results.
Provision is also made for prohibiting the payment of
commissions for brokers procuring goods controlled by
Limitation of Supply orders. These intermediaries
bring together wholesalers who have unused quotas and
manufacturers or other wholesalers whose quotas are
exhausted but who wish to dispose of further goods.
The position of genuine agents and commercial travellers will not be affected by this prohibition of commissions.16
Other evasions of the original act are suggested by
clause 10 of the new one, which prohibits the use of
barter transactions and the transfer of goods by mortgages and pledges for the purpose of avoiding the fixed
price, and clause 9, which prohibits the sale of pricefixed goods on a condition requiring the purchase of
other goods. It is illegal to refuse to sell price-fixed
goods, or to deny that the seller has them when he
really does have a stock. Uniform prices set by sellers
under resale price maintenance contracts, which were
permitted under the Price of Goods Act, now become
the maximum prices.17
The chief distinction in principle between the Price
of Goods Act and the Goods and Services Act is that
the former froze the prices of each firm at the level of
that firm's prices on August 21, 1939 (although permitting increases according to the above formula),
while the latter provides for setting maximum scheduled
prices or margins, uniform for all sellers in a given class,
but making no provision for automatic increases. At
first the new act was applied only to certain essential
goods; the Price of Goods Act will continue to apply to
goods not designated for maximum prices by the Board.
To date, maximum prices and margins have been
fixed only for apparel made from marked "utility
cloth," which is produced according to specifications,
and for laundry service. Maximum prices have been
set for men's, boys', and youths' outer garments,
women's and maids' outer garments, hosiery, knitted
underwear, women's underwear and nightwear, and
men's overalls, at the manufacturing, wholesaling, and
retailing levels. These scheduled prices are overriding maxima, however, in no case must the firms'
mark-ups over cost exceed 33}£ percent for retailers, 20
percent for wholesalers, and 4 percent for manufacturers,
except that manufacturers are permitted a mark-up
(over cost of production and selling) of 7% percent on
most hosiery, or 5 percent on women's seamless hosiery.
The order affecting laundries was made to prevent Lon16 "Notes Prepared by the Board of Trade for the Information of the Press."
17
Goods and Services (Price Control) Act, clause 1, subsee. 9.
January 1942
don laundries from bringing into effect an announced
price rise of Id. in the shilling. In this case the Board of
Trade fixed the maximum charges as those obtaining on
September 1, 1941. Hotels were warned that similar
action would be taken against them if they attempted
to raise their rates.
Enforcement of Price Control Orders.
Under the Price of Goods Act, violations were
reported only by the buyers, who were urged to submit
complaints to the local price regulation committees.
This form of reporting was found to be insufficient,
partly because consumers did not know what the prices
Figure 9.—Indexes of Retail Sales in Great Britain, Adjusted
for Seasonal Variations
AUGUST 1939 = 100
120
TOTAL
110
100
A
K
V
90
AUGUST 1939 = 100
120
FOOD
110
100
90
80
1 1 1 1 1 1 1 1 1 J1 L1_L1
1
80
1 1 1 I 1 i
130
120
j\ A
110
100
90
80
A i
V M
Aif
1939
1940
i 1111
MO
A
100
90
i i 11
1041
120
A
1
11
130
APPAREL K
HOUSEHOLD GOODS
80
I I M l l l l M I
1939
1940
AMJ
JASONO
1941 00.41-670
Source: Indexes were adjusted for seasonal variations and recomputed with August
1939 as base from data published by the Bank of England, London.
should be.18 Under the new Goods and Services Actr
the maximum scheduled prices must be posted in the
stores. In addition, a staff of investigators is now in
the field checking on prices, especially in cases where
consumers would not be able to detect a violation
because the price might exceed the permitted percent
of margin while not exceeding the scheduled maximum.
The Ministry of Food has since the beginning required that lists of controlled food prices be posted.
Moreover, it has had 1,500 control officers in the field,
and has been able to secure 27,371 convictions out of
28,941 prosecutions, to August 1941.
Appraisal of British Price Control
The effectiveness of price control may be judged by
various criteria, relative to the purposes of control.
The stability of prices, the trend of profits, and the
effects on production and consumption are all considerations that may be involved in appraisal of specific
price controls.
British controls have not prevented substantial increases in prices. Figure 6 shows that the wholesale
price index rose 57 percent from the ourbreak of war
to October 1941, while the cost of living (fig. 8) increased 28 percent. About half of this increase occurred in the early months of the war; from August to
is The Economist, August 2, 1941.]
January 1942
December 1939, wholesale prices rose 25 percent and
the cost of living advanced 12 percent.
During this period only rents were stable, showing
no rise in the Ministry of Labour's index. Prices of
nonfood items were not controlled at all, for the Price
of Goods Act did not go into effect until January 1,
1940. On the other hand, most of the food items included in the cost-of-living index were brought under
control early, maximum price orders being issued in
September 1939 for flour, meat, tea, sugar, canned
salmon, dried fruits, potatoes, eggs, butter, condensed
milk, imported lard, oils and fats, and margarine.
Despite this control, food pric^fe increased 30 percent
at wholesale and 14 percent at retail. Figure 7 shows
that the prices of many of the items were permitted
to rise appreciably, even under control. The price
orders issued in September permitted increases in 1
month of 47 percent for sugar, 19 percent for eggs, and
12 percent for butter. Bacon, cheese, and fresh fish
were not controlled during 1939, although bacon prices
increased 31 percent, cheese 25 percent, and fish 26
percent.
During 1940 prices continued to advance, the total
wholesale price index rising an additional 19 percent,
while the cost of living rose about 11 percent. Food
prices rose about 18 percent at wholesale, and 7 percent
at retail. In the main, the increases in retail food
prices represented changes in the Ministry of Food's
official prices, new schedules being issued frequently as
supply conditions changed. For example, prices of
potatoes were raised in July 1940 to a point 122 percent
above the prices of September 1939. Of the items
included in the Ministry of Labour's food index, only
fish remained uncontrolled, and showed an increase of
75 percent by the end of 1940.
In some cases the permitted increases in prices of
controlled foods appear to indicate a use of the pricing
mechanism to accomplish rationing of goods in short
supply, since many of the price-controlled items were
not brought under ration control. To the end of 1940,
the prices of unrationed food increased at an average
rate of \% times that of the prices of rationed foods.19
Another reason for the increases in prices of controlled
foods appears to be that the Ministry of Food attempted
to permit the least favorably situated dealers to cover
their costs, even at a reduced volume of sales.20 Increases due to this cause were aggravated by the fact
that according to the Ministry of Food, the number of
food retailers has increased greatly since the beginning
of the war, as individuals have entered the retail food
trade in order to supply their families and friends at
wholesale prices.21
Despite control of non-food consumers' goods under
the Price of Goods Act, retail clothing prices advanced
is Schulz, T., "Changes in Grocery Sales," Institute of Statistics, Oxford, Bulletin,
v. 3, N. 10.
20 The Economist, August 23,1941.
21 The Economist, July 26, 1941.
433529—42
3
17
SURVEY OF CURRENT BUSINESS
27 percent during 1940, and an additional 13 percent in
the first ten months of 1941. Increases in pre-retail
prices were passed along to consumers, and decreases in
the physical volume of retail sales were met by increases
in price. For example, when shoe supplies were reduced
20 percent, retail shoe prices rose sharply. Retailers
could justify the increase on the grounds that overhead expenses per unit of sales were greater at the
lower volume.22 Since maximum price ceilings under
the Goods and Services Act were not issued until
September 1941, it is too early to appraise the results
of this change in control methods.
Despite the continued rise in the prices of nonfood
consumers' goods, the general price indexes leveled off
in the first 10 months of 1941, as a result of the movement of the food components of the indexes. The total
wholesale price index increased only 3 percent, to
October, while the cost of living rose a little over 1
percent. During this period, food prices increased
about 2 percent at wholesale, and decreased about 3
percent at retail, as supplies of food have increased as
a result of Lease-Lend activities, and as control has
been tightened. The payment of subsidies, mentioned
above, has also been a factor in the decline in food
prices, since the Ministry of Food can and does reduce
the price indexes by taking a loss on the resale of
basic foods.
It must be noted, however, that the Ministry of
Labour's cost-of-living index includes only about 20
food items, all of which are now subject to direct price
control. Moreover, most of these items are rationed;
the unrationed foods which are available are not all
price-controlled as yet, and in many cases have risen
in price considerably more than the food index. The
value of the indexes as measures of change under
wartime conditions is limited because of the shifts in
relative production and consumption of different goods.
Table 1.—Annual Profits of British Firms Reporting in
Various Quarters
[Thousands of pounds sterling]
Year and quarter
Number of
firms
Total profits
Latest
year
1940:
First
Second
Third
Fourth
1941:
First
.
Second
Third
_-.
Previous
year
Net profits (afterdebenture interest,
depreciation, and
taxes)
Latest
year
Previous
year
552
722
428
558
£125,316
131,418
78, 724
74, 685
£120, 227
116,077
74, 758
65, 267
£69,189
72,155
37, 704
29, 027
£72,139
69,134
45, 32630,155
439
497
498
98, 954
105,306
90, 729
94,301
104,198
87,480
50, 628
51, 537
34, 944
55, 682
58, 919
42, 334
Source: The Economist (London).
The Trend in Profits.
The effect of price controls on profits furnishes a test
of one of the purposes of control, which is to prevent
" The Economist, June 7, 1941.
18
SURVEY OF CURRENT BUSINESS
wartime profiteering. British price control has been
effective in retarding general inflationary increases in
profits, but has not actually reduced profits. Table 1
indicates that British firms (of all types) reported
slightly greater total profits for fiscal years ending in
each quarter of 1940 and 1941 than for the preceding
years, e. g., firms reporting in the third quarter of 1941
showed total profits of £90,729,000 for the fiscal
year ended in that quarter, while the profits of these
same firms had been £87,480,000 for the year
ending in the third quarter of 1940. Firms reporting
in the fourth quarter of 1940 showed total profits of
£74,685,000 for what was approximately the first year
of war as compared with £65,267,000 for the previous
year. These figures are for profits before taxes, which
is the significant test of the effects of price control.
In most cases, of course, increased taxation reduced the
net profits available for distribution to stockholders.
Table 2.—Profits of Retail Enterprises, Great Britain
Line
Department stores
Shoe chains. _ _
Drug chains.—
Food chains
Clothing and drapers
Variety chains
Home furnishings
Total, 31 firms
Number of
firms
reporting
Total operating
profits
1940
1939
Net profits after debenture interest, depreciation, and taxes
1940
7 £5,905,022 £6, 342,100 £1,439, 090
932. 717
812, 741
372, 238
7
1,125, 817
1, 092, 376
545, 418
2
1, 421, 946
1, 613, 986
841, 663
3
594, 962
744,120
186, 801
8
9, 399, 390
8, 806, 208
2
315,196
156, 947
168,199
2
31
19, 695, 050
19, 568, 478
3, 553,409
1939
£1, 946,115
454, 296
811, 200
1,097,118
276, 932
80, 524
4, 666,185
Source: The Economist (London). Reports of various companies do not exactly
coincide with the calendar years.
Profits of various lines of retail trade are shown in
table 2, the firms being selected so that the fiscal years
covered by their reports approximately coincide with
the calendar years shown. Total operating profits of
31 firms were slightly greater in 1940 than in 1939.
The maintenance of retail operating profits thus shown
is directly related to the operation of the Price of Goods
Act, for as physical volume of sales decreased as a
result of shortages of supply, merchants were allowed
by the Board of Trade's price formula to increase
prices sufficiently to maintain the money volume of
sales and the aggregate net profits. Figure 9 shows
that throughout the war period the value of retail
sales has been remarkably constant. In view of the
necessary decreases in physical volume, this result
could have been achieved only through increases in
prices.
During 1941 there has been a slight downward
movement in the value of retail sales. Moreover, in
the second quarter of this year retail firms reporting
their profits showed a decline for the first time since
the beginning of the war: £6,507,123 for the year, as
compared with £6,736,934 for the year ending in the
second quarter of 1940. Imposition of price ceilings
under the -Goods and Services Act may cause a further
decrease in the value of sales and in retail profits.
January 1942
An offsetting factor may be the new "Location of
Retail Businesses Order/' 23 which will restrict the
opening of new retail stores. If, in consequence of
expected retail mortality, a smaller number of firms
results, surviving firms may be able to maintain profit
through increases in sales volume. It is possible, also,
that even at stable prices the total value of sales may
not continue to decline because the reduction in physical
volume may have reached its limit.
Conclusion
Direct price control has become progressively more
important in its eff^pt on the general price level in
Great Britain. During the period of the greatest rise
in prices, in the early months of the war, direct controls
were operating only on raw materials and industrial
goods, and on a small number of food items. It seems
unlikely, however, that the price advance could have
been stemmed by a wider or more stringent application
of price orders, for the greatest increases took place in
raw materials, most of which were imported. Higher
import prices were caused by depreciation of the
pound sterling, rising world prices, and increases in
the cost of shipping and insurance. These factors
have been brought under control by stabilization of the
exchange rates, requisition of British vessels by the
Government, and long-term purchase contracts with the
sterling area countries. These contracts and the LeaseLend Program, have been of extreme importance in
respect to stabilization of the price level in Great
Britain, in view of the fact that imports are so vital in the
British economy.
Increased Government expenditures, particularly
after the fall of France, were the basic cause of further
substantial price rises in 1940. Increased civilian purchasing power was expended on a volume of consumers7
goods that had been reduced through Government control of raw materials and foodstuffs, and the Limitation
of Supplies Orders. Fiscal policy was directed at
absorbing the increased purchasing power through
taxation and savings, but private individuals were left
with sufficient income for larger personal expenditures.
Direct price controls did not, during 1940, prevent the
price increases that resulted from the insufficiency of
fiscal controls.
It appears, however, that increased stringency of
direct price control and the use of large subsidies have
played a significant ipart in stabilizing the price level
in 1941. The leveling-off of the price indexes cannot be
entirely attributed to fiscal control, for there is evidence
that some inflationary gap may yet remain. Although
it is true that there has been voluntary limitation on
spending, arising from an increased desire for liquidity
and from response to "spend less" campaigns, it seems
likely that without direct price controls the present
stability of the price indexes would not have been
achieved.
23 The Location of Retail Businesses Order, S. R. and O. (1941) No. 1784.
19
SURVEY OF CURRENT BUSINESS
January 1942
NEW OR REVISED SERIES
Table 35.—CANADIAN INDEXES OF COST OF LIVING l
[1935-39 = 100]
Month
1914
1913
January
February..
March
April
May
June
July
August
SeptemberOctober
November.
December..
1916
1915
1917
1918
1919
1920
1921
1922
1923
1924
1925
1926
1927
80.3
80.3
80.3
79.4
78.7
79.4
78.7
80.3
80.3
81.0
81.0
81.0
81.0
81.9
81.0
81.0
81.0
81.0
81.0
81.0
81.0
81.9
83.4
83.4
84.2
85.0
85.0
85.9
85.9
86.6
87.5
88. 2
90.6
91.4
93.8
95.4
97.7
98.5
100.1
100.9
104.9
105.7
105.7
105.7
106.5
108.0
109.6
110.5
111.2
112.8
113.6
114.4
116.0
117.5
118.4
121.6
121.6
123.1
124.0
124.7
126.3
125.6
124.0
125.6
127.9
129.5
130. 3
133.5
133.5
133.5
134.2
135.8
140.7
143.8
147.7
150.2
154.1
155.8
155.8
154.9
153.3
152. 5
150.2
147.7
146.2
143.8
139.1
135.8
133.5
128.7
127.9
128.6
129.5
127.2
124.7
124.7
124.7
123.1
122.4
120.8
120.0
120.0
120.0
120.8
120.8
120.8
120.8
120.8
121.6
121.6
123.1
121.6
120.8
120.8
120.0
121.6
121.6
122.4
122.4
122.4
121.6
121.6
120.8
119.1
118.4
117.5
117.5
119.1
119.1
119.1
120.0
120.0
120.8
121.6
120.8
120.0
119.1
119.1
119.1
120.0
120.0
120.8
122.4
123.1
123.0
122.8
122.8
122.3
122.0
121.7
121.9
121.7
120.8
120.7
121.1
121.6
121.3
120.8
120.3
119.2
119.1
119.4
119.7
119.5
119.2
119.6
119.9
120.3
79.7
80.0
81.6
88.3
104.5
118.3
130.0
150.5
132.5
121.3
121.7
119.5
120.6
121.8
119.9
1928
1929
1930
1931
1932
1936
1937
1938
1939
1940
January
February..
March
April
May
June
July
August
September.
October
NovemberDecember. .
121.1
120.6
120.1
120.0
119.5
119.2
119.5
120.5
120.6
121.4
121.2
121.2
121.0
120.6
120.8
120.1
120.6
120.6
120.8
123.0
122.8
123.1
123.5
123.8
124.4
124.1
123.6
122.3
122.0
122.0
121.2
120.5
118.4
118.1
118.0
116.8
115.6
114.4
112.3
111.4
109.9
108.0
107.9
108.3
106.8
105.1
105.2
104.6
103.3
102.1
101.3
101.1
98.8
97.9
97.6
98.4
97.8
97.0
97.1
96.7
95.9
94.9
94.3
94.6
93.3
93.3
93.5
95.2
95.1
94.2
94.3
94.8
94.9
95.5
97.1
96.3
95.2
94.9
95.1
95.5
95.5
95.9
95.9
95.7
95.6
96.1
96.0
95.8
95.5
95.4
95.7
96.1
96.5
97.2
97.6
97.8
97.8
97.6
97.7
96.9
97.2
97.2
98.1
98.5
98.7
98.9
99.1
99.2
99.4
99.4
99.5
99.7
100.5
100.8
101.5
102.1
102.3
102.9
102.9
102.6
102.4
102.3
102.8
102.8
102.4
102.4
102.6
103.1
102.1
101.7
101.5
101.1
101.
100.
100.
100.
100.
100.
100.
100.
100,
103.1.5
103.
103.
103.8
103.8
104.6
104.6
104.9
104.9
105.6
105.9
106.4
107.0
107.8
108.0
Monthly average..
120.5
121.7
120.8
109.1
99.0
94.4
95.6
96.2
98.1
101.2
102.2
101.5
105.6
Monthly average..
1934
1933
1935
1941
108.3
108.2
108.2
108.6
109.4
110.5
111.9
113.7
114.7
115.5
116.3
1
Revised series. This series, compiled by the Dominion Bureau of Statistics of the Department of Trade and Commerce in consultation with the Dominion Department of
Labor and the Wartime Prices and Trade Board, replaces the series on a 1926 base shown in the 1940 Supplement. The new series on a 1935-39 base reflects the changes in the
cost of a fixed budget covering retail prices of commodities and services, and shelter costs based upon the expenditure experience of 1,439 typical wage-earner families in the year
i'__
n
J-~_~_ l
on
1 non
"XT „
x.
T
J__I
„.£•
_"u zr±z
_~1
~r
i •
.:„
~
„ J-T
,,~
T
J ^ _,-: J
—.1 Z
J
._
„
,
,
i
c
J_T
„!,_
_ _ « i „„
„-**„„_,.„ J'J
3
exception of shelter and certain miscellaneous series, data are collected monthly. Rents are reported in May and October. Of the miscellaneous group, the following data are
collected annually: Insurance, periodicals, doctor and dentist fees, hospital service, and laundry. Costs of medicine are collected semiannually. Where data are not collected
monthly, the last reported month is carried forward as a constant. The monthly indexes are as of the 1st of the month. A more complete description of this index is shown in a
release of the Department of Trade and Commerce entitled "Living Costs in Canada, 1940."
Table 36.—STANDARD AND POOR'S CORPORATE BOND PRICES 1
[Dollars per $100 bond]
1937
1938
Medium and lower
grade
Medium and lower
grade
1940
Medium and lov
grade
Medium and lower
grade
Month
M
JJ
.2-°
I!
is
14
H
aa o
S3
January
February. _
March
April
May
June
July
August
SeptemberOctober
NovemberDecember._
112.1 102.3 102.6 102.8 101.4
111.1 102.7 103 2 103.2 101.7
109.1 100.7 103.6 100.3 100.3
108.3 98.1
97.9 97.4
109.2 98.1
97.3 97.2
110.2 97.8 101.3 96.1 95.9
110.5 98.5 102.1 97.5 95.8
110.8 98.7 102.8 98.2 95.1
110.2 95.0 99.1 95.4 90.3
110.1 89.0 94.0 91.6 80.7
110.6 85.1 91.2 90.1 74.0
110.7 83.6 88.7 89.0 73.1
M o n t h l y average--,
110. 2
95.8
96.6
91.9
17.2
17.1
14.8
13.5
13.8
14.0
16.2
15.2
13.1
15.0
15.7
15.1
113.3
113.9
114.2
114.0
115.0
115.3
115.6
114.1
109.6
111.4
113.6
114.4
110.7
110.6
110.2
109.0
110.7
110.8
111.2
111.6
111.2
111.6
112.4
112.8
82.1
81.4
77.4
74.4
80.3
79.3
87.5
87.5
84.5
88.7
89.3
88.1
88.2
80.7
77.9
83.1
79.6
90.6
91.7
88.7
92.1
91.7
86.7
93.3
85.9
85.9
84.0
90.2
90.7
94.1
92.8
95.2
95.1
96.6
95.8
68.4
70.1
65.9
61.2
67.5
67.5
77.7
77.8
73.2
79.0
79.6
78.4
88.5
89.2
91.0
85.3
86.9
89.2
89.6
90.0
88.
91.4
92.3
92.1
89.8
90.2
92.2
88.2
90.1
92.1
91.6
91.9
89.3
91.4
93.3
94.5
30.3 111.1
83.4
86.7
91.6
72.2 15.1 113.8 89.5
91.2
39.
39.7
39.5
37.0
34.8
31.5
31.4
29.8
25.3
19.9
17.
17.
95.9
98.3
98.7
95.1
98.5
100.4
101.5
102.1
97.0
99.3
102.2
102.6
79.7
79.2
82.3
72.7
72.3
75.0
75.8
76.0
80.1
83.4
81.3
79.1
15.3
14.6
14.7
11.8
12.5
13.0
12.7
12 2
14!
15.8
14.4
13.8
115.1
115.1
115.2
116.4
114.
113.
115.7
115.
116.5
117.2
118.0
a
is
92.
95.0 102.8
93.2 94.7 102.4
94.5 96.7 102.3
96.4 98.9 103.8
91.8 93.5 100.8
89.2 90.4 99.2
94.5 96.1 103.8
94.9 97.0 104.3
96.3 98.3 105.3
97.7 101.1 105.
98.5 103.0 105.9
102.8 105.3
99.3 78.1 13.8 115.9 94.8
80.7
82.4
84.4
86.3
81.2
78.
83.6
83.5
85.1
86.4
86.8
86.2
97 2 103.5 83.;
14.0
14.1
14.7
15.3
12.1
10.7
12.6
12.8
14.5
15.0
15.3
16.4
14.0
1 New series. Compiled by Standard and Poor's Corporation. These indexes are an average of the median bond in each group. For the high grade and medium and
lower grade series, all bonds in a selected list are first yielded to maturity and the average median yield obtained. The median yield is then converted to a price basis by
assuming a given coupon rate and maturity. The high grade index is based upon the average of the 5 median yields in a list of 15 bonds. The price is obtained by assuming
a 4-percent coupon with 20 years to maturity. The medium and lower grade indexes have been converted on the basis of a 5-percent coupon with 20 years to maturity. The
railroad and public utility indexes are based upon the mean of 4 median yields in a list of 10 medium grade bonds averaged with the mean of 4 median yields in a list of 10
lower grade bonds, and the industrials, upon the mean of 3 median yields in a list of 5 medium grade bonds averaged with the mean of 3 median yields in a list of 5 lower
grade bonds. The defaulted bond index is the average of 11 median actual prices in a list of 15 issues, largely railroad bonds. All series are computed on a daily basis and the
daily figures averaged to obtain the monthly indexes.
For 1941 data see p. S-18.
20
SURVEY OF CURRENT BUSINESS
January 1942
Table 37.—STANDARD AND POOR'S STOCK PRICE INDEXES 1
[1935-39=100]
1918
1919
1920
1931
1932
1923
1934
1926
1925
1927
1928
1929
1930
1931
1932
1933
1934
1935
1936
1937
107.3
112.6
114.8
112.6
107.6
111.5
116.2
119.2
120.5
126.6
131.1
130.0
133.5
136.7
136. 6
128.1
123.3
119. 6
126.0
12:
111.0
94.3
87.6
85.7
87.4
85. 2
79.2
76.5
78.0
79.7
93.6
94.0
89.6
82.9 117.5 117.5
.2
1938
1939
1940
Month
Industrials, rails, and public utilities, combined index (402 stocks)
January
February
March
April
May
June
July
August
September
October
November
December
Monthly average._
61.3
63.1
61.9
61.3
63.2
63.3
63.8
64.4
64.1
66.8
68.5
67.1
66.7
67.0
69.0
71.3
76.2
78.3
80.8
75.4
76.6
80.5
78.1
75.8
64.1
74.6 67 8
75 0
68.8
73 7
73 1
68 5
67 3
67 2
64 6
66.9
67 0
63 6
57 9
60.4 62.0 75.6 75.0 89.9 107. 5
60.0 63.4 78.9 75.4 90.7 107. 5
58.5 65.8 80.1 73 9 88.3 101. 2
58.7 69.8 77.3 72 2 87.4 98.1
60.5 72.5 73.7 72.0 90.2 98.4
55.7 71.8 70.9 73 3 91 8 102. 6
55.5 72.3 68.5 76 7 94.3 105. 6
54.8 75.0 68.8 79 4 95 6 108. 7
56.2 77.0 69.3 78 6 97 8 110. 1
56.9 78.7 68.2 77 6 101 0 107. 3
60.0 74.8 70.3 81 9 104 2 108.9
62.1 74.6 72.7 86.3 105.9 111. 3
58.3
71.5
111. .5
113.9
115. 2
117. 3
120. 6
121 9
123.8
128 8
134.8
133 8
136 9
140 5
141.9
139.7
145.6
154.1
160. 6
153.4
152.3
156.6
165.4
168.01
180.7)
181.0
195. 6
196.9
199.7
197.0
198.3
201.4
218.9
230. 3
237.8
213.0
159.6
162.4
165.0
174.8
182.0
191.1
180.0
161.4
157.7
155.9
157.1
134.7
123.2
115.5
118. 5
126.5
128.4
115.3
103.5
100.4
103. 7
100.8
86.3
73.7
75.7
61.0
61.3
59.6
60.0
46.3
42.0
35.9
37.9
56. 3
61.5
52.7
50.2
50.1
72.9 76 9 94 8 105. 6 124 9
51.8
47.5
45.6
50.2
66.4
79.1
85.0
79.3
79.0
73.3
73.0
74.3
79.9 73.6
85.0 71.5
81.3 68.0
84.1 71.3
75.8 77.2
77.6 80.3
75.4 83.8
71.6 88.0
70.7 89.8
71.1 90.9
73.3 99.5
73.1 101.1
67.0
76.6
97.0
95.1
96.0
85.0
88.4
89.9
91.8
90.7
99.7
100. 71
98.9!
97.1 97.0
97.4
96.8
96.7
98.1
85.1
78.1
80.8
81.6
85.5
86.0
86.7
84.9
94.2|
88.1
49.1 41.7 75.8 73.6 104.8 132.6 87.7 98.7
47.8 38.4 79.8 72.2 109.7 137. 1 86.5 96.0
48.6 37.6 76.7 68.2 112.6 137. 4 80.7 96.6
37.7 44.1 79.7 71.3 110.9 128. 8 78.0 85.1
34.4 59.0 71.9 77.3 105. 8 123. 9 78.9 88.3
30.2 69.8 73.5 79.5 108.9 120. 7 80.9 89.9
32.3 75.4 72.0 82.8 113.1 127. 5 95.9 91.8
46.5 71.2 69.3 86.0 115.9 129. 6 97.0 90.4
50.4 72.9 68.4 88.1 117.6 112. 4 92.7 101.3
43.1 68.2 69.0 89.8 124.1 94.8 101.2 101.8
41.0 69.3 72.4 98.0 130.4 86.8 102.1 99.6
40.4 71.2 72.5 99.2 129.1 85.1 100.0 97.6
97.7
97.1
97.3
98.7
85.2
77.3
79.3
80.3
84.6
85.4
86.6
Industrials, total index (354 stocks)
January
February
March
April
May
June
July
August
September
October
November
December
Monthly average. _
54.5 69.5
54.7 62.1
57.1 67.2
60.4 67.4
65.3 62.3
68.4 61.0
72.2 60.3
67.7 55.7
69.4 57.3
74.5 55.6
72.3 51.9
70.5 46.7
49.2
48.8
47.5
48.1
49.6
44.4
43.4
42.0
43.4
44.7
48.1
50.6
62.9
63.2
61.3
59.0
58.4
59.3
62.2
64.8
63.9
63.0
66.4
70.4
74.7
75.8
73.1
72.7
75.0
76.9
79.6
80.4
82.9
86. 5
90.0
90.7
92.3
92.5
87.0
83.7
83.6
87.5
90.3
93.1
94.1
91.7
93.0
95.2
51.2
65.6
46.7 58 4 60.1 62 9
79.9
90.3 107 0 139 4 171. 1 127 0 78.5 41.8
59.8
50.2
51.2
53.1
57.0
59.9
59 4
59.1
60 6
62 7
64 6
61 3
61 8
124. 1
121. 7
127 4
135^0
139. 9
133. 9
133.5
137. 9
146. 5
150. 2
161. 6
161. 1
48.3
50.2
48.8
48.9
50.8
50.9
51.7
52.0
51.2
53.2
54.3
53.7
63.2
66.4
68.0
65.1
61.0
57.5
55.3
55.8
56.2
55.1
57.4
60.7
95.4
97.1
98.1
99.4
102. 2
103. 4
105. 4
110. 4
116.4
115.2
118 6
122 4
173.9
173. 7
177. 0
174. 7
174. 0
172. 5
183. 1
190. 0
195. 2
175. 6
130. 8
132. 7
134. 4
140. 8
147. 2
154. 3
144. 6
129 2
126.3
125 3
125.8
106 4
98 0
92 1
93.4
99.7
101. 0
90.6
80.8
78.2
81.1
79.9
68.5
58.5
61.0
49.1
82.2 115.2 118 1 90.1
59.9
73.4
33.0
30.4
30.1
37.0
51.1
61.5
67.9
63.8
63.9
58.9
60.2
61 7
66.6 62.5 97.6
69.5 61.1 105.2
66.1 56.9 108.8
69.4 60.3 107.8
61.4 66.0 101.9
62.3 67.9 106.5
60.5 72.4 110.3
57.3 76.7 116.8
56.2 81.4 118.8
56.8 83.2 125.7
59.4 90.8 133.0
60.1 92.9 134.0
94.8
87. g
Industrials, capital goods (116 stocks)
January
February
March
April
May
June
July
August
September
October
November
December
75.1 80.0 10",. u | 163. 9
76.6 81.9 105.4 169. 7
71.9 83.7 108.3 174. 3
69.9 86.0 113.6 169. 1
69.8 87.9 116.2 172. 2
73.1 89.0 111.2 176.2
76.1 91.9 111.1 195. 0
78.8 96.2 115.7 207. 0
78.6 101.7 124.4 212. 3
76.4 98.4 128.3 187. 8
77.9 100.7 140.5 135. 9
80.1 106.3 143.1 138. 7
Monthly average. _
75.4
92.0 118.1
145. 4
156. 2
160. 5
165. 5
149. 7
132. 7
127. 9
126. 6
128. 4
106. 6
97.6
91.4
175. 2 132.4
90.8
97.9
100. 2
86.7
73.7
70.6
73.2
69.5
59.2
49.4
51.2
39.9
39.2
37.4
37.8
27 7
24 8
21 3
23 0
37.8
42 5
34 7
32.3
31 3
71 9 32.5
51 6 62.1
139.1
145. 9
148. 6
136. 1
131. 0
129.3
137. 8
140. 5
119. 3
96.7
86.8
89.4
91.1
88.7
82.2
76.9
78.4
79.9
95.9
97.1
94.2
105.6
106.8
105.2
72.7 113.9 125.0
91.8
97.1
90.2
133.0
129.3
122.7
115.1
110.1
106.5
113.6
113.3
103.6
93.5
92.9
90.8
89.1
83.2
77.5
76.6
81.1
82.3
89.6
87.2
83.2
92.7
94.0
90.7
94.9
97.9
99.6
92.5
96.8
98.1
100.1
101.1
98.4
100.4
101.9
101.3
103.0
102.4
101. 6
102.6
92.3
88.5
93.9
93.5
94.7
93.7
92.3
90.6
83.9 122.1 110.4
85.6
98.6
95.8
102.8 99.2
98.7 98.5
99.2 98.7
85.1 100.1
87.8 86.4
89.4 79.0
92.2 80.6
91.3 82.3
107.6 87.8
107.0 90.1
102.7 90.6
101.1 89.4
Industrials, consumer's goods (191 stocks)
January-..
February..
March
April
May
June
July
August
September .
October
November..
December..
101.5;
101.7
93.7
88.4
87.8
93.1
95.6
101.8
103.5
101.1
102.5
105.4
Monthly average.-
104.8
106.5
109.1
112.8
117.2
118.4
120.7
127.0
135.6
135.3
139.1
143.9
146.21
144.2
153. 2l
163.1
167.3
160.8
160.9
167.5
179.9
184.8
193.8
199.
195.
195.
191.
188.
183.
189.
191.
194
171.
128.
129.
98.0 122.5 167.6
130.0
136.8
141.0
145.8
140.1
126.5
124.2
124.0
126.2
109.1
101.8
98.0
100.8
109.0
113.0
104.7
97.4
93.6
96.1
95.4
81.8
70.2
72.7
60.1
61.1
59.7
60.0
46.8
41.8
35.4
36.9
52.6
57.4
49.5
46.
46.2
47.6
43.9
43.2
50.4
67.0
77.5
83.4
79.9
79.6
73.8
72.8
74.8
79.9 81.0 111.3
84.6 79.8 114.6
81.0 75.8 116.4
77.8 115.3
84.
76.7 81.9 111.3
77.8 84.6 115.0
76.6 90.2 118.
73.8 93.9 119.2
73.4 96.2 121.4
75.9 98.6 127.0
80.0 106.8 132.4
80.6 106.2 127.2
125. 3
91.2
49.5
66.2
78.1
127.6
130.1
128.3
121.0
116.3
111.1
115.6
118.6
105.1
90.4
83.7
77.7
89.4 119.2 110.5
Public utilities (28 stocks)
January
February...
March
April
May
June..
July
August
September..
October
November..
December..
70.9
72.5
70.3
69.1
68.5
68.3
66.9
66.4
68.1
72.9
74.5
71.5
69.9
70.5
71.8
71.4
73.3
74.1
73.2
70.4
69.6
68.8
67.2
65.4
65.5
64.1
65.4
64.5
62.3
61.8
61.4
61.9
63.3
65.9
65.4
62.1
63.8
64.2
65.5
67.9
68.3
66.6
66.6
67.0
67.8
68.7
71.1
72.8
74.3
76.2
78.9
81.0
82.6
82.0
82.5
86.1
88.5
88.6
86.8
86.3
86.4 89.2
88.8 89.5
88.9 88.7
87.5 87.7
86.0 87.9
85.0 89.6
84.0 91.5
85.1 93.5
86.1 94.9
84.9 94.6
85.7 97.2
86.5 101.1
Monthly average-_
70.0
70.5
63.6
67.5
82.8
86.2
102.5
103.0
103.7
104.2
109.4
111.5
113.6
113.
115.0
117.5
118.3
118.1
120. 6
121.2
110.9
109.0
110.1
114.1
117.0
119.1
120.5
117.9
120.4
121.5
121.9
123.0
125.3
129.1
133.4
135.1
134.2
138.5
144.9
145. 4
146.8
148.
151.3
152.9
157.0
166.5]
181.5
173.0
169.7
172.8
182.0
180.5
197.01
202.6
225.1
236.5
238.0
235.2
248.0
272.2
319.0
355.4
375.1
323.2
227.1
234.7
243.9
269.4
282.8
308.0
292.0
261.1
251.6
248.5
252.8
218.4
195.6
184.4
190.8
207.9
220.7
198.3
182.7
178.7
184.0
180.0
154.0
130.8
134. 0'
111.7
92.1 110.9 116.9 135.5! 173.9 274.1 250.7 172.8
110.2 95.6
108.4 85.4
109.2 78.2
85.6 74.2
79.2 92.6
64.3 113.1
64.7 114.0
98.4 101.8
106.8 93.6
94.2 87.6
90.7 81.7
93.0 78.6
92.1
91.4
85.5 67.1 115.8
94.1 63.6 120.3
88.9 62.1 120.1
89.1 69.1 116.2
81.5 75.3 111.6
84.0 82.2 119.2
80.8 86.3 124.4
75.5 95.4 126.9
74.4 95.7 125.5
73.5 96.0 128.2
70.9 106.3 127.2
68.0 107.4 129.2
80.5
1
Revised series compiled by Standard and Poor's Corporation. These indexes, originally published as a relative of a 1926 base, have been recomputed on the broader 1935-39*
base with changes in the number of companies included. The formula used is a "base-weighted aggregative" where the weighting factor is the number of shares of each stock
outstanding in the base period. Certain modifications of this method have been found necessary to make allowance for the sale of new stock through the issuance of rights,
consolidations, and for the addition of new securities necessary to maintain group representations as new corporations are formed in an industry.
The indexes beginning May 1930 are based upon Wednesday's closing prices or the last preceding sale price. Prior to May 1930, the data were based on quotations for a
different day, with the selection of the particular day of the week based on the publication requirements of the weekly service of the company. The actual dates of these
quotations appear on p. 80 of "Long Term Security Price Index Record" published by Standard and Poor's Corporation. For a complete description of the indexes, together
with weeklyfiguresback to the beginning of 1918, refer to pp. 3-11 and 73-74 of the same publication.
For data for 1941, see p. S-18.
January 1942
21
SURVEY OF CURRENT BUSINESS
Table 37.—STANDARD AND POOR'S STOCK PRICE INDEXES—Continued
1
[1935-39 = 100]
1918
1919
1920
1921
1922
1923
1924
1925
1926
1927
1928
1929
1930
1939
1940
77. 5
75. 1
64. 2
56. 7
57. 8
56. 9
73. 8
73.0
65. 5
77. 8
78. 9
76. 4
79.0
74.3
77.7
63.9
67.0
67.5
69.2
66.8
82.4
87.2
82.8
78.4
76.5
76.7
77.3
65.4
60.8
65.2
66.0
71.6
72.6
73.6
70.0
69. 5
74.7
71.1
131.0
150.5
146.2
135.2
127.5
121. 5
127.1
123.6
113.3
96.2
88.8
83.3
88.1
86.1
81.9
79.8
80.2
78.4
85.0
82.8
77.5
84.7
82.5
79.2
83.1
84.9
88.8
83.7
89.2
91.7
91.4
89.6
97.5
99.4
97.5
96.8
98.4
98.5
98.2
97.8
86.4
81.0
85.3
83.8
84.7
89.0
92.4
92.7
91.5 115.5 120.4
82.2
91.1
90.7
88.9
88.5
83.2
80.6
84.7
88.1
97.2
97.3
94.2
99.0
99.4
97.0
98.0
97.5
98.9
92.2
95.8
101.6
102.2
100.3
99.7
103. 2
104.6
106.9
108.3
109.5
107.3
107. 2
95.2
89.4
95.5
95.9
99.3
102.3
106.7
107.2
1935
1931
1936
1937
119.8
131. 6
130.6
126.6
120.8
126. 4
136.1
143.0
146.8
158. 5
153.5
144.4
148.2
153. 5
165. 8
155. 7
152.1
140.7
139.8
135.0
111.6
90.9
83.2
81.1
90.2 136.5 129.8
1938
Month
Railroads (20 stocks)
174. 5
January
177.2
February
177.0
March
A pril
. _ 172.5
178.4
May
__ JVS.
June
- J 179. 1
July
179.3
183.6
August
184.5
September
190.3
October
197.3
November
191.6
December
Monthly average . _ ! 182.1
185.7
185.7
187.4
188.0
199.7
197.9
197.8
181.7
181.1
183.3
178.7
170.8
169. 8
162.4
173. 4
167. 3
160. 3
159. 2
162. 7
168. 1
177. 7
187. 2
181. 3
166. 1
170. 5
168.9
162.1
157.1
164.1
156.0
160.4
163.1
166. 2
163. 2
166.5
167.6
168.1
172.5
179.1
188.4
192.2
189.2
196. 5
207.4
210.2
213.0
200.8
195.5
195. 2
203. 1
202. 7
197. 2
192. 8
191. 6
184. 7
183. 0
183. 9
182.3
185. 6
185. 3
188. g
190. 5
189. 4
191. 1
192. 7
197. 1
207. 5
213.1
210. 2
207. 2
221. 8
232. 2
235. 0
235. 5
230. 3
224. 8
228.7
228.9
231. 7
238. 4
241. 6
242. 5
250. 4
261. 7
261 4
257 5
251.1
248 3
251.1
261. 0
265. 7
273. 6
280. 9
272. 5
276. 3
282.3
284 1
296. 0
297. 5
306 8
313. 2
316. 2
320. 1
326.4
332. 0
329. 7
331.
336.
I
332. 4
322.6
334. 0
346. 8
353. 4
336. 1
330. 5
335. 4
343. 8
340. 1
357. 7
357. 9
376. 2
375. 6
372. 4
366. 7
368.0
384.1
424. 3
438.
446. 0
416. 3
358. 4
361. 5
362.0
378.0
379 8
376 0
360 7
330 3
329 5
321 6
325 2
294.2
270. 8
248 0
266. 2
277. 6
257. 9
231. 6
203. 6
196. 3
199. 7
175. 5
148. 9
128.4
121. 9
87. 6
186. 5 169.6 163.8 192.7 190. 6 203. 5 237. 5 265. 1 315. 8 340. 9 390. 7 331. 3 191.
73.3
70. 8
67. 8
69. 7
99. 5
116. 7
139. 5
131. 1
125.1
106. 9
101. 8
107. 0
97.0
90.6
85.2
59.0
46.2
37.5
41.3
77.4
91.5
72.8
67.6
68.2
120. 6 91. 7
132. 6 84. 3
126. 1 73. 7
130. 6 77. 9
114. 7 82.1
117. 0 86. 7
109. 3 90. 5
94. 3 95. 1
93.0 98.0
94. 3 91. 4
93.6 101. 5
94. 9 109. 9
69.5 100. 8 110.1
3
New York City banks (19 stocks)
January
February
March
April
May
June _
July
August
September
October
November
December
Monthly average.
79.6
81.2
81.9
83.2
87.5
89.0
91.5
92.0
90.0
90.4
94.4
94.5
92.2
91.9
88.2
89.0
87.2
85.4
85.4
84.2
83.1
84.2
84.1
81.2
76.9
79.7
81.1
78.4
78.2
79.6
75.2
74.9
74.4
74.4
75.9
77.1
80.1
80.9
81.2
81.2
83.2
84.9
88.0
89.5
92.0
92.7
94. 2
95.0
94.9
95.3
97.0
97.3
97.3
96.5
95.7
96.2
96.5
96.5
97.0
S8.8
222.3
231. 4
233.4
210.9
184.0
181.3
184.4
173.1
146.5
130. 9
136.5
100.7
105.9
106.5
111.5
90.1
77.4
65.4
71.7
107.6
122.1
110.1
105.1
109.3
70.3
87.9
86.3
77.2
86.9
96.6 108.5 144.7 166.1 204.9 280.2 473.8 320.4 178.0
98.6
89.1
90.3
99.3
103.0
102.8
102.7
103.0
103.0
106.3
112.3
114.6
115.0
115.6
124.4
127.4
133.6
134.7
132.7
132.7
138.0
147.2
150. 8
153. 2
156.3
164.1
166.1
167.6
169.4
174.4
160.1
161.3
160.5
164.5
165. 8
167. 9
166. 6
164.5
171.1
175.1
175.6
181.7
186. 4
189.9
201. 7
200. 5
217.6
236. 0
233. 6
223.6
237.2
241. 5
243.9
240.9
262.5
301. 0
327. 1
284.4
273.8
281.1
281.1
283.6
341.2
373.2
417.1
488.8
492.1
498.0
484. 1
512.3
526.6
594. 3
597.7
353.5
347.7
351. 2
377.5
396.9
406.8
374.4
319.4
300. 3
294. 5
316. 3
268.5
233.0
205.6
112. 8 85.7 85.5 117.1
105.5 96.0 88.7 109.3
81.7 94.1 78.9 110.2
78.3 100.3 78.7 106.4
88.2 97.3 78.6 103.9
100.8 97.5 82.7 107.9
101.1 96.0 94.3 119.8
96.8 88.7 102.5 127.0
84.3 79.8 94.0 124.8
78.2 80.9 92.7 125.0
70.6 85.7 105.4 116.9
70.4 81.5 114.8 117.3
66.8
69.4
71.1
70.1
68.8
69.8
69.9
70.1
70.3
69.6
71.1
76.9
Fire insurance (18 stocks)
January
February
M a r c h . . . . _.
April
May...
June
July
August
September
October
November
December
Monthly average __
I
42.5
42.8
42.2
42.0
42.2
42.6
42.7
43.0
43.1
43.0
43.0
39.5
45.9
47.2
49.4
50.8
52.8
54.0
55.7
56.0
55.6
57.6
60.6
62.0
62.8
60.8
59.0
60.1
59.3
58.6
61.0
57.5
57.7
58.4
59.5
58.5
56.6
55. 8
56.1
55.9
55. 5
55.5
53.2
53.4
52.6
52.0
53.2
56.4
58.3
58.3
59 2
59^7
60.7
61.9
62.2
62.6
64.4
66.1
68.5
69.8
73.0
75.1
78.0
78.9
78.8
78.4
78.2
77.2
77.4
77.7
79.1
81.6
81.5
84.2
85.5
86.4
86.0
85.9
88.1
90.6
94.0
93.6
94.1
98.5
130. 2
137.7
137.4
127.2
116. 1
112.2
119.7
116.5
98.2
82.0
85.2
62.4
53.3
54.7
59.0
44.9
32.2
28.9
30.6
49.3
53.8
49.0
47.4
47.0
50.0
48.2
43.3
42.9
57.3
63.3
68.2
66.2
64.3
60.8
58.9
56.7
65.3
73.0
71.3
76.0
74.1
75.8
75.9
74.0
73.9
76.5
82.4
83.2
42.4
54.0
59.4
54.7
62.6
77.8
89.0 109.7 113.7 136. 3 212.2 221.1 163.1 110.4
45.8
56.7
75.1
100.9
104. 5
108. 2
107.6
107.2
111.0
110.6
110. 5
110.7
110. 8
117.3
116.9
121. 5
122.5
123.4
112.0
108.9
108. 9
112.2
111.4
111.7
111.0
108.0
112.3
114.9
116.2
118.4
119.4
123.2
126. 5
129.8
140.1
151. 6
158. 8
162. 6
174.0
207. 6
212.4
201.7
215.6
226.5
231.4
198. 4
194.9
209.3
208.2
213.1
227. 6
236.7
235.3
234.0
231.4
229.6
221.5
232.3
233.7
247.0
227.0
161. 2
162. 9
167.8
181.1
185.9
196.3
183. 4
164.7
162. 0
161.4
162.2
142.7
129.5
119.8
83.7
84.3
82.1
85.5
90.0
94.6
102.1
106.1
105. 7
105.5
109.2
115.7
122.3
121.5
116.1
109.9
107.1
108.3
109.3
109.8
107.1
106.7
109.3
111.8
112.2
111. 9
110.5
104. 3
101.0
100.9
106. 5
104.8
97.4
84.8
84.4
82.7
97.0 111.6 100.1
91.5 100.1 102.0
For footnotes, see p. 20.
Table 38.—SHIPMENTS OF ELECTRICAL HOUSEHOLD APPLIANCES, EXCLUDING
REFRIGERATORS
[Monthly average 1936=100]
Adjusted for seasonal^variations
Without adjustment for seasonal variations
Month
1934
January.--.
February. .
March
April
May
June
I 1935 I 1936
1937
1938
1938
1939
1939
1940
1941
144.3
157.7
192.1
206.4
203.9
202. 7
199.6
158. 6
193.2
157.7
July .
August
September. —
October
November
December ^ __
38.2
45.2
62.6
67.4
67.5
54.7
47. 0
53. 9
54. 5
52. 1
42.1
40 1
43.1
57.1
76.3
83.4
84.1
65.2
63. 2
69.9
74.1
77.4
60.4
59.2
122.
119.
123.
112.
100.
94.
107.
104.
81.
91.
100.5
110.1
179.2
171.5
155.7
152. 0
124.6
109.7
115. 0
95.0
64.3
58.9
73.4
84.6
103.1
94.9
87.8
82.2
75.5
84.7
81.9
81.7
65. 8
60. 5
98.6
101. 9
126.0
107.3
120.2
111.6
84.9
99.6
104.5
105.1
88.3
71.2
127.2
128.4
143. 8
134.9
140.3
114.6
101.8
102. 5
112.2
122. 3
91.1
88.4
Monthly average.
52. 1
67.8
100.0
119-7
81.3
101.6
117.3
65.
1934
1935
54.4
61.2
57.8
64.1
66. 6
59.1 '
64.8
71. g
n. 1
82. 4
85.3
86. 1
1936
1937
82.3
82.5
92.4
92.1
97.9
101.9
103.3
97.3
107.6
110.7
114.3
132. 7
126. 3
118.0
135.8
131.9
123. 3
137.9
127.7
112.6
115.0
101.1
90.8
85.6
1938
92.2
90.6
78.1
73.0
69.5
74.6
77.4
87.0
81.9
87.0
92.9
88.0
1939
1940
123.9
109.2
95.5
82.5
95.2
101.2
87.0
102.3
104.5
111.9
124.6
103.6
159.8
137.6
109.0
103.8
111.1
104.0
104.3
105.2
112.2
130.2
128.6
128.5
1941
181.3
169.0
145. 6
158. 8
161.5
183.9
204.5
162.9
193.3
167.8
i New series. Data are compiled b y the National Electrical Manufacturers Association and are based on the billed unit sales of electric water heaters and electric ranges
from members and nonmembers reporting to the National Electrical Manufacturers Association; manufacturers unit sales of electric ironers and washers compiled b y the
American Washer and Troner Manufacturers Association; and unit sales of vacuum cleaners compiled by the Vacuum Cleaner Manufacturers Association. These associations
have practically complete coverage on all of the data included in the index with the exception of water heaters; for this item, the National Electrical Manufacturers Association
estimates the coverage at from 85 to 90 percent.
For each of the products enumerated above, a separate index is compiled. Link relatives are used, since there are slight variations in the companies reporting. The
individual product indexes are combined into a group index with weights based on the relative importance of the different products, as indicated by annual dollar sales at retail.
These weights are adjusted each year. Retail values used in weighting washing machines, ironers, and vacuum cleaners are based on information released by the 2 associations
involved; retail values of electric ranges and water heaters are based on estimates compiled by "Electrical Merchandising," McGraw-Hill Publishing Co.
This index does not include data for electric refrigerators which are available in a separate index shown in the compiler's publication, N E M A News. Refrigerator sales
amount to almost 60 percent of total household appliance sales. Items included in this index, however, amount to more than 95 percent of total household appliances excluding
refrigerators, according to industry totals derived from 1937 Census data. The total on which these estimates are based includes in addition to the items mentioned above,
cooking, heating and other appliances including coffee makers, cookers, curling irons, flat irons, hair, hand and face driers, heaters (air, immersion and water), heating pads,
mixers, roasters, toasters, grills, waffle irons, etc. Excluded are fans, radios, phonographs, and clocks.
Actual unit sales of electric ranges, vacuum cleaners, washers, ironers. and refrigerators are shown on p. S-33.
22
SURVEY OF CURRENT BUSINESS
January 1942
Table 39.—STANDARD AND POOR'S HIGH GRADE PREFERRED STOCK YIELDS
[Percent]
Month
January
.
February
March
_
April
May
June
July...
August
September
October
November
Deceni ber
1928
. . _ _,.
_„
...
. _.
„
_.
.._
- _
.
.
. _
Monthly average
_..
1930
j 1931
5.33
5 24
5.11
4 94
4 96
5.05
5.10
5.12
5 915
5 2
5.13
5 11
5.07
5 09
5. 09
5 10
5.12
5.10
5.14
5.17
5 14
5. 15
5. IS
5.06
5.06
5 04
4.96
4 95
4.95
4.95
4.95
4.92
4. 87
4.84
4.91
4.99
5.12
5.12
4.95 j
j
1
!
1
|
4.96
4 90
4.86
4 83
4.83
4.87
4. 86
1 4.84
1 4. 97
5.38
| 5.43
| 5.75
5.04
1932
5.85
5 84
5.79
6.33
6.57
6.88
1933
1934
1935
1936
1937
1938
1939
1940
5. 85
5 80
5. 87
5.89
5. 75
5 81
6. 07
6.12
5, 95
5. 68
5. 53
5. 50
5.47
5 55
5. 74
5.78
5. 66
5 46
5.40
5.33
5. 28
5.24
5. 16
5 18
5.28
5 32
5.16
4.99
4.90
4 85
4.81
4.69
4. 56
4. 55
4. 55
4. 54
4. 56
4. 59
4.53
4. 43
4.40
4 36
4.31
4. 30
4.34
4.33
4.31
4 29
4.32
4 34
4. 35
4.26
4.18
4 *>!
4.40
4.52
4.57
4.51
4.51
4 46
4.47
4 51
4. 55
4.47
4.45
4 43
4.49
4.54
4.46
4.43
4.35
4.28
4. 23
4.20
4.12
4.15
4.12
4 11
4.13
4.16
4.14
4.10
4. 05
4. 07
4, 49
4.29
4. 24
4.14
4.07
4 10
4.13
4.11
4.21
4.38
4.22
4 19
4.15
4 10
4. 08
3.97
6.13
5.75
5.29
4. 63
4.33
4.45
4.34
4.17
4.14
o" oi)
1941
3. 94
4 05
4.08
4.10
4.15
4.15
4. 05
4 02
4. 04
4 07
4.11
1
Revised series. Compiled by Standard and Poor's Corporation and represents a revision, beginning February 1928, of the series on yields of 20 high-grade industrial preferred stocks formerly compiled by the Standard Statistics Co. For the revised series both the components and method of computation have been changed. Yields are computed for each of 15 high-grade non-callable issues, including public utility as well as industrial preferred stocks. The group yield is determined from the average of the 9
median yields. The indexes are based upon 1 price weekly with the monthly index computed from the average of the 4 or 5 weekly indexes of the month. Revised indexes
were computed for several years prior to 1928 and the switch from the indexes for the yields of the old series of 20 preferred industrial stocks to the new series of 15 preferred
stocks was made at a time when the 2 series were equal, thus not disturbing the trend.
Table 40.—INDEXES OF THE VALUE OF MANUFACTURERS' INVENTORIES AT THE END OF EACH
MONTHJ
Average month 1939=100]
Durable goods
Year and month
DecemberJanuary
February, __
March
April
May
June
July
August
September-.
October
November. _
December. _
1938
1939
Monthly average
January
February
March
April
May
June
July
August
September
October
November
December
1940
Monthly average.
January
February...
March
April
May
June . -July
August
September..
October
November (
1941
Nondurable goods
Iron TransTotal, Total Total
\
dura- non- and portaAuto- Other | Food
all
Tex- [ Paper iChem-j
and
icals { Petro-! Bub- j| Other
steel tion
moindus- ble duratileand
nonble
dukinand
j
leum
i ber
bile
tries goods goods and equip- mamill j allied
dure- | prod- jj rable
their ment chin- chin- equip- rable dred prod- | prod- | allied
™
good, prod- ucts I ucts prod- fining j ucts I goods
prod- (exc.
ery
! ucts
ucts
ucts auto)
100.5
100. 2
100.9
99.;
84.9
102.1
101.3
102.4 i 100.4
104. 1
99.3
101.9
102.3 | 104.3 j 101.0 i
100.9
100.4
99.5
98.5
97.9
97.4
98.1
98.8
98.9
101.3
104.5
107.2
100.1
100.6
100.4
99.0
97.7
97.0
96.9
98.0
98.8
101.8
105.4
108.8
101. 5
100.2
98.8
97.9
98. 1
97.8
99.1
99.5
99.0
100.9
103.8
105.9
98.6
98.9
97.4
96.2
95.6
96.7
98.3
100.2
100.1
104.8
108.5
109.8
84.4
85.5
86.5
90.5
97.8
101.7
104.2
105.9
107. 7
110.0
118.9
129.1
100. 6
100. 4
101.5
100. 6
99.7
98.7
97.3
98.0
97.0
97.8
101.8
110.3
100.7
101.3
102.4
101. 2
99. 5
98.2
97.2
96.5
96.9
99.1
102. 7
107. 0
103. 7
106. 5
103.4
97.1
88.4
80.1
75.2
87.0
106. 6
117.2
121.5
124.3
102.3
102. 4
102.8
101.8
100.6
99.6
99.8
98.7
95.9
96.3
98.8
101. 7
101. 5
96.4
94. 5
92.0
93.5
94.6
98.6
102.7
102.6
106.4
109.6
111.0
100. 6
100.9
100.1
98.7
98.4
94.2
97.3
96.7
98.8
103.7
107.3
107.3
101.2
101.6
100.2
99,5
99.1
97.9
98.0
98.1
97.1
99.2
103.4
107. 7
103. 2
102. 9
101.9
102. 0
101. 2
101.2
99.3
98.3
95.2
94.6
97.3
103.8
100.3
100.4
100.2
100.4
101.9
100. 3
100.2
100. 9
100.1
100.3
100.3 | 100.3
100.1 i
109. 5
110.6
110.5
110.0
110. 5
110.6
112.2
113.3
114.1
116. 2
117.7
119.9
111.0
112.6
112.8
111.9
112.7
112.9
113.9
116.8
119.3
122.3
125.2
129. 8
108.3
108. 9
108.6
108.2
108.5
108.6
110.7
110.2
109.5
110.9
111.1
111.3
109. 9
110.0
109.3
108.6
111. 1
113.4
116.3
117.7
118.8
121.1
124.0
127.4
136. 6
148.6
152. 6
154. 9
161.2
170.7
183.0
194.6
210.4
232.9
257.4
278. 2
115.0
118.3
121.0
121. 2
123.2
122.5
122. 5
122.4
123.7
129.1
133.9
140.8
110.4
113.1
114.2
133.0
112.7
112. 4
113.2
113.6
115.0
117.9
120.4
125.4
125. 6
122.9
119.1
115.3
111.7
101. 6
92.5
119.9
137.8
139.9
140.0
144.6
104.1
105. 7
106.0
105. 5
105.1
105.1
105.6
105.2
104.6
105. 2
105. 7
108.7
109.2
106.7
103. 8
101.9
101. 5
101.8
106.9
109.6
108.2
109.5
111.7
112.3
111.4
111. 5
113.0
113.4
113.0
112.2
113. 6
109.7
110.3
116.7
118.0
116.2
111.2
114.4
115. 5
114.0
112.1
110.9
111.0
112.7 |
114.2 I
116. 5
117.6
120.3
]06.6
110. 3
112. 1
112.9
112. 6
113.0
113. 5
114.1
112.7
112. 3
113.3
117.3
113.0
116.8
109.6
115. 6
190.1
124.5
115.1
122.6
105.5
106.9
121.8
122.7
124.1
126.0
128.7
132. 0
136.4
140.0
143.4
148.3
152.9
132.5
134.8
137.2
140.2
144.1
146.7
150.3
155.8
160.5
166.2
169.9
112.5
112.2
112.6
113. 6
115.2
119.2
124.3
126.2
128.4
132.7
138.0
126.4
125.0
122.8
122.5
124.5
125.5
126.9
126.5
126.0
125.9
127.8
306.0
331.1
357.5
375.1
403. 1
428.4
467.4
504.7
552.2
600. 2
616.5
148.0
156.1
165. 4
172.9
183.9
190.6
198.7
206. 5
212. 5
225. 5
231.3
129. 8
133. 1
136.0
140.0
144.1
146. 4
151.1
156.5
158.7
166.4
173.5
144. 6
146.0
149.5
155. 2
155.1
152. 8
138.3
163. 9
187. 6
195. 0
191. 5
110. 3
111.3
113.0
114.6
116.5
118.0
121.8
123.8
125. 0
127.4
130.4
111.0
108.3
109.3
113.0
117.3
123. 0
133. 2
139.9
142.8
146. 7
154.0
95.5
103.5 j 101.1
103. 1 1 101.2
102.5 | 101.9
102.1
103.1
101.7
103.1
100.9
100.0
100.4
98.6
96.3
97.2
95.8
97.3
96.3
92.8
97.0
99.5
96.8
107.5
100.2
100.1
98.1
98.1
98.3
99.8
100. 3
101.3
99.8
100.7
103.1
104.8
'9.7 i 100.3
100.4
112.4
116.6
118.2
119.2
120.7
115.3
118.9
122.4
123.8
122.9
122.7
124.9
111,4
111.9
110.5
109.9
111.6
113. 4
113.8
110.3
108.5
108.6
105.8
103.9
113.3
114.2 1 111.7 | 101.1 I 119.8
110.0
118.4
120.0
122.7
124.2
126.6
129.4
135. 3
132.1
133.6
137. 6
146.2
119.7
119.9
120.4
119.4
117.6
118.8
122.1
124.2
125.4
128. 5
130.8
117.2
118,1
119.1
118.9
118.4
119. 5
122.9
125.2
126. 0
128. 2
131. 7
96.1
98.5
99.3
100.2
101.8
100. 7
102.8
102.7
103.5
103.4
102.2
102.1 |
101.6 j
101.5
101.7 I
102.7
103.2
104.9
106.3
105.8 j
1C7. 7 |
110.4 !
111.0 !
129.6
133.2
138.6 ]
140.4 i
143.1
143.3
145. 8
141,4
133.5
137.5
141.4
108. 7
108.0
105.6
104.1
105. 3
111.9
115.0
117.1
121.9
128.9
134.4
1
Revised series, compiled by the XI. S. Department of Commerce, Bureau of Foreign and Domestic Commerce. The inventory indexes have been revised in order to secure a
more accurate measure of month-to-month changes in the value of stocks held by manufacturers, as well as to secure estimates of their total dollar volume. The methods
followed in the revision are essentially the same as those used in deriving the original inventory series described in the September 1940 issue of the Survey, pages 7-12. A
more complete coverage was achieved-by the inclusion of late and revised schedules sent in by manufacturers together with back data received from new cooperators. In
addition, the base period was broadened and the weights for the component indexes improved.
The new indexes were computed using average monthly inventory values in 1939 as bases. Census of Manufactures data for 1939 were used as benchmarks in arriving at
the base value figures. Since all plants reporting to the Census do not report inventories, the Census data were adjusted to include those not reporting^ Statistics of income
data from the Bureau of Internal Revenue were used as a base for the rubber and tobacco sub-groups, a more complete coverage of these manufacturers being obtained thereby.
Composite indexes were derived from the component industrial group indexes by weighting the latter according to the proportion of the relevant inventory total held by each
group in the average 1939 month.
p Preliminary.
S-l
SURVEY OF CURRENT BUSINESS
January 1942
Monthly Business Statistics
The data here are a continuation of the statistics published in the 1940 Supplement to the SURVEY OF CURRENT BUSINESS.
That volume contains monthly data for the years 1936 to 1939, and monthly averages for earlier years back to 1913 insofar as
available; it also provides a description of each series and references to sources of monthlyfiguresprior to 1936. Series added or
revised since publication of the 1940 Supplement are indicated by an asterisk (*) and a dagger (f), respectively, the accompanying
footnote indicating where historical data and a descriptive note may be found. The term "unadjusted" and "adjusted"used to
designate index numbers refer to adjustment of monthlyfiguresfor seasonal variations.
Data subsequent to November for selected series will be found in the Weekly Supplement to the Survey.
Monthly statistics through December 1939, to- 1941
1940
gether with explanatory notes and references
to the sources of the data, may be found in the Novem- Novem- December
ber
ber
1940 Supplement to the Survey
1941
January
February
March
April
May
June
July
August
September
October
BUSINESS INDEXES
INCOME PAYMENTS!
Indexes, adjusted.
Total income payments__
1935-39=100.Salaries and wages
do.
Total nonagricultural income
do.
Total
_.mil. of dol..
Salaries and wages:
Total
do
Commodity-producing industries._do
Distributive industries
do
Service industries
do
Government
do
Work-relief wages
do
Direct and other relief
do
Social-security benefits and other labor income
mil. of dol..
Dividends and interest
do
Entrepreneurial income and net rents and royalties
mil. of doL.
Total nonagrfcultural income
do
v 142. 9
p 149.4
v 139. 5
v 7, 871
116.6
121.1
117.2
6,362
119.0
124.7
119.7
7,534
121.3
127.8
122.2
6,695
123.1
131.1
124.6
6,370
124.0
132.4
125.6
6,977
125.1
133.6
126.6
6,952
128.6
138.1
130.0
6,848
131.5
142.0
133.2
7,690
133.1
143.3
134.4
7,474
136.7
145.1
135.9
7,277
139.1
145.6
136.5
8,064
' 140. 7
' 147. 3
137.9
' 8.255
p 5, 374
p 2,427
p 1,128
4,386
1,750
996
903
616
121
90
4,527
1,805
1,048
913
635
128
93
4,422
1,779
974
905
633
131
4,523
1,868
984
907
639
125
4, 619
1,923
999
913
658
126
4,714
1,960
1,034
920
679
121
4,909
2,124
1,049
5,077
2,243
1,083
4,993
2, 277
1,088
937
605
86
5,082
2,347
1,096
942
617
80
90
5,255
2,400
1, 114
947
715
79
89
' 5, 374
' 2,451
'1,119
947
'776
'81
'90
145
429
148
1,508
159
790
154
432
154
913
148
793
152
453
1,094
152
890
149
444
147
898
146
'833
P 1,731
p 6, 875
1,312
5,702
1,258
6,950
1,228
6,156
1,165
5,894
1,193
6,476
1,201
6,442
1,241
6,294
1,275
7,105
1,349
6,810
1,512
6,466
1, 675
7,097
1,812
' 7,155
p 140.5
P113.5
p 103.5
p 123.0
P131.5
p 122. 5
v 106. 5
96.5
79.5
66.6
91.5
99.5
91.0
74.5
86.0
85.5
72.0
98.0
104.0
96.0
89.5
74.5
86.5
73.0
98.5
99.5
101.0
85.0
61.5
84.0
66.5
100.5
102.0
105.0
78.0
68.0
88.5
79.5
97.0
97.5
100.0
82.0
74.0
93.0
77.5
107.0
108.5
114.5
82.5
83.5
96.5
82.0
110.0
108.5
118.5
83.5
86.0
96.0
81.0
110.0
107.5
117.5
90.0
99.0
98.5
83.5
112.5
107.5
122.5
90.5
123.0
102.0
95.0
109.0
112.5
114.0
87.0
144.5
110.0
99.0
120.0
122. 5
129.0
88.5
'161.0
'111.5
101.5
'121.0
124.5
'128.0
92.0
p 166
M72
*211
191
P 136
p 156
v 126
136
139
161
172
126
130
123
152
158
136
145
115
129
185
600
136
140
164
174
121
133
114
164
162
125
124
111
141
188
635
135
139
166
179
116
123
113
168
166
110
100
110
144
'193
685
140
144
171
179
119
129
115
177
173
112
102
120
131
207
741
144
149
178
184
123
133
118
185
179
125
117
130
141
214
768
144
153
182
181
130
135
128
194
184
142
139
135
142
'206
818
155
160
192
184
134
143
130
206
190
164
163
159
142
160
165
198
184
140
160
135
214
185
172
174
163
149
244
159
164
196
185
144
149
142
216
188
166
177
160
96
229
'997
162
167
199
185
152
158
148
224
' 186
172
181
172
109
221
1,113
167
172
206
192
149
' 159
144
227
' 189
174
184
166
120
'244
'1,201
' 167
' 172
'210
191
' 145
' 159
'138
'231
185
176
185
173
117
'268
' 1, 290
PU7
*530
925
695
116
93
930
717
104
93
151
AGRICULTURAL INCOME
Cash income from farm marketings:
Crops and livestock, combined index:
Unadjusted
1924-29=100.
Adjusted
do
Crops
do.
Livestock and products
do.
Dairy products
do.
Meat animals
do.
Poultry and eggs
do.
INDUSTRIAL PRODUCTION!
(Federal Reserve)
Unadjusted:
Combined index?
1935-39 = 100..
Manufacturest
do
Durable manufacturest
do
Iron and steel t
do
Lumber and products*
do
Furniture*
do
Lumber*
do
Machinery*
do
Nonferrous metals*t
do
Stone, clay, and glass products*..do
Cement
.do
Glass containers*
do
Polished plate glass
do
Transportation equipment*%
do
Aircraft*?
do
Automobile bodies, parts and assembly*
1935-39=100..
Automobiles, factory sales d"t---do
Locomotives *
do
Railroad cars*
do
Shipbuilding (private yards*) _do
Nondurable manufactures
do
Alcoholic beverages*
do
Chemicals*
do
Leather and products
do . . .
Shoes*
do
Manufactured food products*J__.do
Dairy products*!
do
Meat packing
do
Paper and products*
do
Paper and pulp*.
do
Petroleum and coal products*,
do
Coke*
do....
Petroleum refining
do
Printing and publishing*
do
Rubber products*..
do
Textiles and products
do
Cotton consumption*
.do
Rayon deliveries*!
__do
Silk deliveries*
do
Wool textile production*
..do
Tobacco products
..do
P231
171
170
120
P284
p 1, 383
'229
876
'930
'134
135
152
161
' 146
136
138
148
150
'120
134
139
110
151
161
164
164
160
74
47
'307
'329
'335
'189
'204
'216
'316
'237
'280
'256
233
'247
'279
178
182
218
233
178
236
196
467
381
556
485
'627
282
307
335
'353
'428
v 141
145
138
138
135
142
' 142
118
122
126
130
131
120
129
122
137
137
87
94
100
108
118
138
148
139
135
142
' 151
122
124
129
136
125
120
119
129
' 128
' 126
104
117
122
118
p 115
119
'131
128
124
135
'124
106
121
128
123
P134
'137
'152
'158
' 140
104
104
107
112
'128
'119
'132
'181
'167
'106
84
92
105
134
'188
'175
119
121
119
132
134
133
122
122
116
119
149
143
141
141
151
126
131
136
146
137
145
147
151
145
154
128
133
137
150
140
129
128
135
120
120
126
119
131
120
134
154
152
154
150
152
148
154
133
153
154
125
115
115
124
114
119
131
132
122
128
116
109
115
127
121
124
131
126
121
'125
153
145
151
155
157
162
134
192
131
130
155
138
143
147
150
p 155
155
157
151
' 150
154
162
144
152
156
160
167
160
164
161
160
156
173
154
148
150
158
168
173
'172
170
169
69
74
73
15
66
32
10
72
66
50
68
157
152
152
' 164
136
*164
163
149
165
166
' 169
123
110
113
133
128
108
121
134
108
122
132
' Revised.
p Preliminary.
cFFormerly designated as "automobiles."
fRevised series. For revised data on income payments beginning 1929, see table 21, pp. 16 to 18 of the July 1941 Survey. For industrial production series, see note marked
with a "f" on p. S-2.
•New series. See note marked with a " t " on p. S-2.
{Revisions appear in the September 1941 Survey, see note marked with a "f" on p. S- 2.
p 154
p 123
143
161
••157
153
219
121
104
120
98
96
116
80
151
124
124
119
148
115
112
135
'136
139
151
87
139
115
138
152
'175
172
263
121
93
122
99
95
115
79
159
123
124
119
149
115
112
137
140
142
154
79
145
98
S-2
SURVEY OF CURRENT BUSINESS
1941
Monthly statistics through December 1939, to1940
gether with explanatory notes and references
to the sources of the data, may be found in the Novem- Novem- Decem1940 Supplement to the Survey
ber
ber
ber
January 1942
1941
January
February
March
April
May
June
July
August
September October
BUSINESS INDEXES—Continued
INDUSTRIAL PRODUCTIONf—Con.
Unadjusted—Continued.
Minerals!
1935-39=100
Fuels*
do
Anthracite
do
Bituminous coal
do
Crude petroleum
do
Metals*!
_
do
Copper*
. __ . . .
do
Lead
do
Zinc!
do
Adjusted:
Combined index!
do
Manufactures!.. _ _
do
Durable manufactures!
do
Iron and steel!
do
Lumber and products*... _ _ do
Furniture*
do
Lumber*
.
do
Machinery* ______
_ do
Nonferrous metals* !
do
Stone, clay, and glass products*..do
Cement
do
Glass containers*
do
Polished plate glass
do
Transportation equipment* !
do
Aircraft*!
.
do
Automobile bodies, parts and
assembly*
1935-1939=100
Automobiles, factory sales c? 1 _. _ do
Locomotives*.. _ _
do
Railroad cars*
do
Shipbuilding (private yards)*...do
Nondurable manufactures .
do
Alcoholic beverages*
do
Chemicals*
do
Leather and products
do
Shoes*
_. _ .
do
Manufactured food products*!..-do
Dairy products*!
do
Meat packing _ _
do
Paper and products*
do
Paper and pulp*
___
do
Petroleum and coal products* do
Coke*
do
Petroleum refining . _
_ do
Printing and publishing*
do
Rubber products*
do
Textiles and products
do
Cotton consumption*
do
Rayon deliveries*!
_
do
Silk deliveries*
do
Wool textile production*
do
Tobacco products _
_ .
do
Minerals!
Fuels*
Anthracite
Bituminous coal
Crude petroleum
Metals*!
Copper* X--- Lead!
Zinc!
do
do
do
.do
do
do
do
do
do
1
p 133
P129
v 140
p 128
P160
p 156
128
p 134
p 166
p 172
P211
191
p 138
p 150
p 131
p 190
p 161
164
168
105
P284
p 1,383
p 154
P123
P305
v 272
P646
142
109
p 153
P
P131
v 133
p 135
p 137
135
p 130
p 134
p 155
167
P179
15
v 164
132
P!30
p 127
P97
P 123
v 132
P144
152
127
p 134
119
115
98
128
111
146
147
114
120
113
116
115
127
111
98
146
118
123
113
117
114
130
111
95
145
116
125
114
118
112
134
112
93
155
116
126
116
121
105
143
114
92
151
116
125
96
87
76
18
116
148
156
121
133
127
118
88
126
118
181
159
117
127
131
123
116
132
120
181
152
116
136
130
121
107
128
119
184
147
110
125
134
125
120
135
122
187
152
116
131
137
129
122
144
124
182
152
120
135
' 137
' 131
J93
142
' 127
' 177
r 156
119
' 134
134
137
157
171
127
125
128
152
155
130
140
114
113
171
600
139
142
164
174
132
128
133
164
162
140
155
119
117
177
635
140
144
171
179
137
132
139
168
167
154
181
123
137
190
685
144
148
176
179
135
129
139
177
173
158
183
131
138
203
741
147
151
180
184
128
132
125
185
179
150
156
139
135
207
768
144
153
180
181
132
139
128
194
183
142
139
135
142
'196
818
154
160
190
184
132
152
122
206
189
141
134
148
142
'228
876
159
164
195
184
135
155
125
214
184
150
138
155
152
243
' 930
160
165
199
185
141
161
131
216
188
151
143
154
146
255
'997
' 160
166
199
185
140
153
134
'224
186
154
148
158
133
241
' 1,113
161
166
203
192
' 136
' 151
129
227
' 190
156
154
163
120
'244
' 1, 201
'163
' 169
'207
191
135
' 146
' 129
'231
'186
158
159
168
102
'268
' 1,290
125
134
' 162
166
226
125
129
' 175
172
263
134
144
' 189
178
282
143
152
' 204
182
307
142
143
'216
178
335
124
122
'237
196
'353
152
151
'256
218
381
161
148
'280
233
428
168
154
' 307
233
467
' 141
93
'316
236
485
' 134
74
'329
'247
556
'146
'110
'335
'279
'627
120
96
117
107
112
117
117
133
125
124
118
147
114
110
132
135
139
146
77
140
113
124
101
121
109
113
121
125
134
130
131
120
149
116
112
144
140
142
156
74
145
114
123
105
123
107
110
117
131
114
129
129
122
150
117
111
141
138
144
156
69
136
113
126
108
124
108
112
120
127
126
128
128
122
152
117
114
153
143
152
148
67
149
116
128
104
125
114
115
121
125
134
132
133
123
154
118
116
155
146
156
150
71
152
117
131
107
133
114
117
123
135
126
134
136
121
133
119
118
158
150
160
158
74
152
120
135
114
'136
123
126
'123
• 129
132
142
145
125
148
122
122
162
157
164
169
71
165
119
139
122
144
130
136
127
' 124
124
145
149
127
154
123
128
192
156
160
173
73
163
118
138
130
146
129
132
' 126
' 126
125
147
152
128
154
124
127
153
155
162
173
77
157
114
139
128
145
121
120
'132
' 127
134
147
152
130
154
126
129
130
154
160
170
56
166
118
137
131
146
'120
'117
' 129
' 130
126
144
149
132
152
128
125
131
' 151
156
168
34
'169
121
' 138
'129
' 147
' 124
'122
'131
' 133
133
145
150
133
153
129
' 127
134
'150
161
' 172
10
'164
128
118
113
97
112
115
148
143
113
120
118
' 114
108
115
' 114
147
145
116
123
119
114
98
117
114
148
148
116
125
118
113
102
114
113
148
153
116
126
125
121
102
149
112
148
148
118
125
95
86
71
22
113
149
152
119
133
126
121
80
149
114
152
159
115
127
132
129
126
153
120
152
155
117
136
131
127
137
146
119
151
156
114
125
132
129
162
147
119
148
155
116
131
131
128
127
139
124
'147
154
120
135
' 130
'127
116
127
' 128
'148
' 151
119
'134
171
237
258
214
209
292
129
172
252
294
216
267
282
120
176
246
257
256
238
231
132
189
277
303
295
277
237
132
194
285
296
304
267
263
136
196
277
288
304
255
247
144
207
290
308
307
276
269
154
229
330
316
289
298
429
164
212
295
339
281
294
301
159
196
257
309
223
290
265
157
202
260
304
249
265
258
165
' 193
239
359
213
246
r
227
r
163
148
172
158
178
176
152
184
161
200
195
148
175
155
181
190
159
189
165
205
198
165
198
165
209
210
172
205
155
231
215
180
219
172
244
235
191
233
181
252
245
185
222
159
246
245
188
216
84
238
262
208
239
118
267
265
203
' 240
'159
'259
r
255
268
181
163
124
142
114
142
110
158
140
114
325
202
176
133
146
120
148
110
171
154
134
370
217
183
136
144
123
152
114
174
157
140
439
230
196
142
159
127
162
121
193
166
142
443
235
206
146
164
134
168
134
214
160
129
478
267
219
154
172
144
173
139
236
178
125
452
251
210
151
164
138
173
143
213
170
137
513
262
226
164
166
150
181
151
203
195
164
649
301
237
180
188
174
192
151
228
206
167
r 695
'278
'228
' 172
' 182
' 161
' 194
' 145
214
'200
162
MANUFACTURERS' ORDERS, SHIPMENTS, AND INVENTORIES*
New orders, total
Jan. 1939 = 100
Durable goods.
_
Electrical machinery.
Iron and steel and their products
Other machinery
.
Other durable goods
Nondurable goods . _._ .
Shipments, total
Durable goods .
.
do
do
do _ .
do
do
do
d
do
o
Automobiles and equipment..
do
Electrical machinery
do
Iron and steel and their products
do
Transportation equipment (except
automobiles) .
do
Other machinery
do __,
Other durable goods
do
Nondurable goods
.
do
Chemicals and allied Droducts
-do __„
Food and kindred products
do
Paper and allied products
do
Petroleum refining
___do__ .
Rubber products
Textile-mill products...
Other nondurable goods
. . . .
do
do
do
P211
P267
P305
P 212
P332
P285
p 176
p 202
P 245
P171
p 283
p 252
p 725
P289
p 225
P 164
P 175
p 150
P 202
p 155
P 207
P 186
P 148
261
170
172
127
130
120
134
112
164
141
130 !
336
193
167
123
124
112
146
107
169
143 1
123
r
d1 Formerly designated as "automobiles."
o Preliminary.
Revised.
!fRevised
See noteseries.
markedRevised
with a indexes
'
of industrial production for 1919-39 (1923-39 for industrial groups and industries), including the new series, are available on pp. 12-17
of the August 1940 Survey, except for subsequent revisions in the series marked with a " ! " and data for all years for the new series on "automobile bodies, parts and assembly;"
data for the latter series and revisions for the series marked " ! " (with the exception of zinc and changes in the combined indexes for minerals and metals) are available in
table 24, pp. 21 and 22 of the September 1941 Survey; the latter table includes also revisions of 1940 data for alcoholic beverages, petroleum and coal products, coke, rubber
products, leather and products, shoes, textiles and products, wool textiles, fuels, anthracite and bituminous coal, and a 1939 revision for nondurable goods. Revisions for
zinc and the combined indexes for minerals and metals will be shown in a later issue.
*New series. For industrial production series, see note marked with "f." For indexes of manufacturers' orders and shipments beginning January 1939, see monthly
Surveys beginning with the September 1940 issue (description of data and figures for January-June 1939 are available on pp. 7-13 of that issue except for revisions given in
note marked with an "*" on p. 20 of the November 1940 Survey.
S-3
SURVEY OF CURRENT BUSINESS
January 1942
Monthly statistics through December 1939, to- 1941
1940
gether with explanatory notes and references
to the sources of the data, may be found in the Novem- Novem- December
1940 Supplement to the Survey
ber
ber
1941
January
February
March
April
May
June
July
August September October
BUSINESS INDEXES—Continued
MANUFACTURERS' ORDERS, SHIPMENTS, AND INVENTORIES*-Con.
Inventories, total
Average month 1939=100..
Durable goods
_
do
Automobiles and equipmentdo
Electrical machinery
do
Iron and steel and their products
do
Transportation equipment (except automobiles)
Average month 1939=100..
Other machinery
do
Other durable goods
do
Nondurable goods
do
Chemicals and allied products
do
Food and kindred products
do
Paper and allied products
do
Petroleum refining.
do
Rubber products
do
Textile-mill products
do
Other nondurable goods
_-_do I
v 152.9
v 169. 9
v 191. 5
*231.3
v 127.8
117.7
125.2
140.0
133.9
124.0
119.9
129.8
144.6
140.8
127.4
121. 8
132.5
144.6
148.0
126.4
122.7
134.8
146.0
156.1
125.0
124.1
137.2
149. 5
165.4
122.8
125.0
140.2
155.2
172.9
122. 5
128.7
144.1
155.1
183.9
124.5
132.0
146.7
152.8
190.6
125.5
136.4
150.3
138. 3
198.7
126.9
140.0
155.8
163.9
206.5
126.5
143. 4
160. 5
187.6
212.5
126.0
148.3
166.2
195.0
225.5
125. 9
v 616.5
v 173. 5
v 130.4
v 138.0
p 131. 7
p 154. 0
v 130. 8
v 111.0
v 141.4
v 146.2
v 134. 4
257.4
120.4
105. 7
111.1
113 3
11.1.7
117. 6
102.2
122.7
118.0
105.8
278.2
125.4
108.7
111.3
117.3
112.3
120.3
102.1
124.9
116.2
103.9
306.0
129.8
110.3
112.5
117.2
111.0
119.7
101.6
129.6
118.4
108.7
331.1
133.1
111.3
112.2
118.1
108.3
119.9
101.5
133.2
120.0
108.0
358.5
136.0
113.0
112.6
119.1
109.3
120.4
101.7
138.6
122.7
105.6
375.1
140.0
114.6
113.6
118.9
113.0
119.4
102.7
140.4
124.2
104.1
403.1
144.1
116.5
115.2
118.4
117.3
117.6
103.2
142.1
126. 6
105. 3
428.4
146.4
118.0
119.2
119. 5
123.0
118.8
104.9
143.3
129.4
111.9
467.4
151.1
121. 8
124.3
122. 9
133.2
122.1
106.3
145.8
135.3
115.0
504.7
156.5
123. 8
126.2
125.2
139.9
124.2
105.8
141.4
132.1
117.1
552. 2
158. 7
125.0
128.4
126.0
142.8
125.4
107.7
133.5
133. 6
121.9
600.2
166. 4
127.4
133.7
128.0
146. 7
128. 5
110.4
137.5
137.6
128.9
COMMODITY PRICES
COST OF LIVING
National Industrial Conference Board:
Combined indext-—
1923=100
Clothing
do
Foodf
do
Fuel and light
do
Housing
do
Sundries
.
do
U.S. Department of Labor:
Combined index*
1935-39=100..
Clothing*
do
Foodf
do
Fuel, electricity, and ice*_. . . . _ do
Housefurnishings*. _.
do...
Rent* . . .
do
Miscellaneous*
._
do. _
PRICES RECEIVED BY FARMERS§
U. S. Department of Agriculture:
Combined index
1909-14=100..
Chickens and eggs
.
do
Cotton and cottonseed
do
Dairy products
do
Fruits
......
do
Grains
do
Meat animals
..
do
Truck crops
. . . .do
Miscellaneous
„
do
92.9
79 6
92.2
90.2
89 5
101.9
85.5
73 1
77.2
86.3
87.5
98.1
85.9
73.0
78.3
86.5
87.5
98.1
86.0
73.0
78.7
86.4
87.6
98.1
86.1
73.1
78.8
86.4
87.7
98.2
86.3
73.2
79.2
86.4
87.7
98.3
86.9
73.3
81.0
86.4
87.8
98.3
87.4
73.6
82.2
86.4
88.0
98.5
88.5
73.6
85.5
86.7
88 2
98.6
88.9
73 8
86.2
87.8
88 4
98.7
89.4
74 5
87 3
88.6
88 6
98.8
90.8
76 9
89.4
89.4
88.9
99.8
••92.0
78 3
90.7
90.0
89.2
' 101. 5
110.2
114 4
113.1
104.0
115.8
107.9
107.1
100.1
101 6
95.9
100.3
100.6
104.7
101.7
100.7
101 6
97.3
100.7
100.4
104.9
101.8
100.8
100 7
97.8
100.8
100.1
105.0
101.9
100.8
100 4
97.9
100.6
100.4
105.1
101.9
101.2
102.1
98.4
100.7
101.6
105.1
101.9
102.2
102 4
100.6
101.0
102.4
105.4
102.2
102.9
102 8
102.1
101.1
103.2
105.7
102.5
104.6
103 3
105.9
101.4
105.3
105. 8
103.3
105.3
104 8
106.7
102.3
107.4
106.1
103.7
106.2
106 9
108.0
103.2
108.9
106.3
104.0
108.1
110 8
110.7
103. 7
112.0
106.8
105.0
109.4
112 8
111.6
104.0
114.9
107. 5
107.0
135
157
136
148
98
103
151
147
128
99
120
79
121
71
83
112
r
99
90
101
122
79
128
75
81
111
93
102
104
100
80
121
78
84
130
117
104
103
90
80
118
80
81
130
156
93
103
90
82
118
83
84
129
134
91
110
104
88
121
89
90
137
161
94
112
107
98
124
89
93
138
146
93
118
118
107
126
97
96
144
146
98
125
127
121
132
93
98
154
130
107
131
130
128
135
100
99
158
133
128
139
141
150
140
89
106
166
145
131
139
146
144
145
107
101
157
164
144
RETAIL PRICES
U. S. Department of Labor indexes:
83.0
83.0
82.8
88.7
82.5
83.0
83.0
82.4
88.3
82.3
86.6
Anthracite
. 1923-25=100
84.6
90.1
90.3
90.3
90.3
90.1
95.8
Bituminous coal|
do
90.2
90.5
94.9
90.0
93.8
96.3
92.0
Food (see under cost of living above).
Fairchild's index:
94.5
95.5
106. 2
94.2
96.3
105.2
Combined index
Dec. 31, 1930=100
93.9
94.8
97.7
93.7
99.6
107. 5
102.6
Apparel:
97.7
102.1
97.6
97.6
97.6
97.6
97.6
101.2
97.7
98.1
Infants'
do
98.7
100.0
103 2
89.3
89.4
89.5
89.7
96. 5
Men's
_
do
90.1
95. 5
89.3
89.3
89.3
93.3
91.5
97.5
94.3
104.1
105. 7
'92.4
93.6
93.9
92.5
93.3
93.0
95.3
96.9
Women's
do
100.4
106 9
98.9
108. 5
96.5
96.0
97.7
106. 9
Home furnishings .
do
95.6
95.8
100.4
109. 5
95.7
104.9
102.4
87.6
88.8
87.3
89.6
99.9
87.8
91.3
101.6
86.8
87.0
97.1
Piece goods
do
103.7
93.3
WHOLESALE PRICES
U. S. Department of Labor indexes:
92. 4
84.9
Combined index (889 quotations*)-1926=100__
83.2
91.8
80.8
81.5
87.1
80.6
90.3
79.6
80.0
88.8
92.5
Economic classes:
93. 9
Finished products
do
03 8
84.2
85.5
87.1
92.8
83.5
83.5
88.6
91.5
82.6
82.8
90.1
89.7
74.0
75.3
79.7
90. 0
74.6
77.5
Raw materials __
do
73.6
83.6
72.6
86.1
90 2
87.6
85.1
89. <)
81.6
83.4
86.4
90. 3
81.3
87.6
89.5
Semimanufactures
do
80.7
80.7
87.9
89.7
90. 0
74.4
91.0
70.3
71.6
71.6
76.4
82.1
68.2
Farm products..
do
69.7
90 6
87.4
85.8
81.4
74.5
85.3
64.5
70.9
67.6
75.9
67.0
67.8
79.6
84 3
67.7
76.3
Grains
do
94. 5
86.2
101.1
82.4
82.5
88.0
93.0
Livestock and poultry
do
69.9
83.0
99.0
72.7
98.9
90.6
Commodities other than farm products*
91.9
92 8
86.6
81.9
82.1
82.7
82.7
85.0
88.0
89.3
90.7
83.6
1926=100..
92.7
73.5
75.2
77.9
79.5
83.1
73.7
Foods
_.
do
72.5
73.5
89.3
89.5
88.9
84.7
87.2
95.2
93. 3
84.3
79.7
80.3
81.0
80.2
81.6
90.3
84.2
87.7
Dairy products
do
96 3
82.3
75.8
70.7
63.8
64.0
73.0
70.3
59.4
60.7
59.6
69.4
Fruits and vegetables
do
60.4
61.2
77.9
99.4
93. 6
83.2
83.6
85.6
90.8
76.2
83.7
93.8
77.0
Meats
do
90.8
87.2
97.5
Commodities other than farm products and
93. 4
9i. a
85.9
84.3
84.9
87.4
88.6
89.7
90.8
84.4
84.1
84.1
93.5
foods .
1926 = 100
106.4
107. 3
105.5
100.1
100.4
101.0
99.3
99.5
103.1
98.9
99.6
99.3
Building materials
do
107. 5
95. 7
96 6
95.1
91.9
92.5
94.2
91.7
91.3
91.4
91.5
90.2
96.6
91.1
Brick and tile
do
92.7
92. 2
92.1
91.9
91.5
92.1
90.8
91.0
90.9
90.8
90.8
90.8
93.1
Cement!
do
J29. 1
129.5
117.6
122.3
127.5
116.7
116.7
118.4
116.8
117.2
118.8
Lumberf.
_ _ do
128.7
117. 5
86.0
87.4
89.7
83.8
83.6
78.5
79.8
81.8
78.6
89.8
77.5
77.7
85.2
Chemicals and allied productsf
do .
87.2
87.3
87.5
88.2
88.4
85.9
86.4
86.8
85.6
85.7
85.4
88. 3
85.1
Chemicalsf
do
124. .1
104.4
100.1
99.9
97.5
98.7
100.0
96.5
96.9
95.9
96.2
97.2
123.2
Drugs and pharmaceuticalsf
do
77.3
76.6
75.3
69.9
71.1
74.0
71.0
70.4
69.9
70.7
70.4
70.0
Fertilizer materials!
do
77.3
' Revised, v Preliminary. •Number of quotations increased to 889 in January 1941. J For monthly data beginning 1933, see p. 18 of the April 1940 Survey.
§Data for December 15,1941: Total, 143; ehickens and eggs, 153; cotton and cottonseed, 138; dairy products, 148; fruits, 98; grains, 112; meat animals, 160; truck crops, 156;
miscellaneous, 154.
^Covers 37 cities in September and October, 36 in November, and 35 beginning in December.
t Revised series. National Industrial Conference Board's index of cost of living and food component and index of wholesale prices of lumber revised beginning 1935, see
tables 5 and 7, respectively, p. 18 of the January 1941 Survey. For the Department of Labor's revised index of retail food prices beginning 1913, see table 51, p. 18 of the November 1940 Survey. Data for chemicals and allied products and subgroups revised beginning 1926; see table 32, p. 18 of the August 1940 Survey.
*New series. For description of data on manufacturers' inventories, see pp. 7-13 of the September 1940 Survey and for revised figures beginning December 1938, see
table 40, p. 22, of this issue. For data beginning 1913 for the Department of Labor's cost of living series, see table 19, p. 18, of the May 1941 Survey; for index of prices of commodities other than farm products beginning 1913, see table 36, p. 18, of the September 1940 Survey.
433529—42
4
S-4
SURVEY OF CURRENT BUSINESS
January 1942
1941
1941
1940
Monthly statistics through December 1939, together with explanatory notes and references
to the sources of the data, may be found in the Novem- Novem- December
1940 Supplement to the Survey
ber
ber
January
February
March
April
May
June
July
October
August September
COMMODITY PRICES—Continued
j
WHOLESALE PRICES—Continued
U. S. Department of Labor indexes—Con.
Commodities other than farm products and
foods—Continued
Fuel and lighting materials
1926=100..
Electricity
do
Gas
..
do _-.
Petroleum products
do
Hides and leather products
._do
Hides and skins
. . . .
do-_.
Leathei
do
Shoes
-_-do ._
House-furnishing goods
- do
Furnishings
- -do
Furniture
do
Metals and metal products
__do .
Iron and steel
do
Metals nonferrous
-do
Plumbing and heating equipment--do
Textile products
do
Clothing
_.do . . Cotton goods
do
Hosiery and underwear
_-do ._
Rayon*
do. ._
Silk*
- do
Woolen and worsted goods
do
Miscellaneous
- do
Automobile tires and tubes
. _.do
Paper and pulp
do
Wholesale prices, actual. (See under respective
commodities.)
i
67.4
102.2
71.9
73.3
80.5
49.3
102.3
101.2
93.2
107.1
88.6
95.0
81.8
97.6
95.3
83.9
80.5
74.5
85.7
73.6
61.5
29.5
42.8
88.8
77.5
58.6
93.1
71.7
73.4
78.2
49.5
102.3
99.3
94.1
107.2
88.9
95.1
82.2
97.6
95.4
83.4
80.5
74.8
85.5
74.9
60.7
29.5
42.5
89.0
77.3
58.3
93.1
72.1
72.5
77. 5
50.0
102.4
99.1
94.4
107.4
89.0
95.2
82.6
97.7
95.7
83.6
80.5
75.2
86.6
75.8
59.9
29.5
42.5
89.2
77.1
58.2
93.1
72.1
72.5
77.6
50.0
101.6
94.8
94.5
107.4
89.1
95.3
82.6
97.6
95.5
84.0
82.2
76.4
87.2
77.5
60.3
29.5
43.3
91.2
76.9
58.2
93.3
72.0
70.0
77.0
49.9
102.6
99.1
94.8
107.4
89.5
95.8
82.9
97.7
95.7
84.3
82.8
78.4
87.7
81.1
60.4
29.5
47.7
93.2
77.6
58.4
93.5
72.9
69.2
78.1
51.9
103.9
104.7
95.6
107.8
90.4
97.1
83.4
97.9
95.9
84.3
83.0
81.0
88.7
86.8
61.1
29.5
48.3
93.3
78.6
58.8
94.5
75.6
67.7
80.1
55.3
106.4
110.3
96.9
110.1
91.4
98.0
84.3
98.1
98.1
84.4
83.0
83.0
90.9
91.0
61.3
29.5
49.1
94.1
79.6
58.8
96.7
77.9
67.2
81.0
59.9
107.8
112.4
97.9
111.7
93.1
99.0
87.0
98.3
96.5
84.5
83.1
84.5
91.6
94 6
61.9
29.5
51.2
94.6
80.6
58.8
98.0
78.5
66.8
80.8
60.9
109.4
112.5
98.1
114.7
94.4
99.7
88 9
98.5
96 8
84.7
83.2
86.2
93.9
96 1
62.9
29.5
51.4
96.5
82 0
58.8
98.8
79.0
66.4
78.3
61 4
110.2
112.2
98.5
116.1
95.4
100.7
89 9
98.6
96 9
84.4
86.8
88 3
95.1
101 5
63.8
29.5
52 0
98.2
83 7
60.8
100.7
79.2
66. 7
81.7
61.7
111.3
112.1
100.0
117.1
97.2
102.1
92.2
98.6
96.9
84.4
87.1
89.7
96.1
104.2
64.4
29.8
(i)
101.4
85.1
60.8
101.7
108.9
111.9
108.9
109.5
126.5
131.9
148.6
118.9
125.9
130.0
145.6
118.3
124.7
129.4
141.4
118.2
125. 0
129.2
142.7
118.1
123. 6
128.5
142.7
117.8
121. 0
125.8
133.7
117.1
118.6
123.9
131.2
116.4
115.6
119.5
124.5
114.9
113.4
118 6
117.6
114.4
111.5
117 1
112.2
113.8
109.7
114 3
105.7
112.0
78.8
60.4
114.1
114.0
101.1
120. 5
100.6
105.2
95.8
103. 3
97.1
84.8
87.9
91.1
97.9
105.4
67.0
30.3
0)
102.6
79.6
78.9
61.7
112.6
113.1
100.9
118.8
99.5
104.4
94.4
103.1
97.0
84.6
87.8
90.9
97.8
105. 2
66.6
30.3
0)
102. 3
86.4
65. 5
101.9
PURCHASING POWER OF THE
DOLLAR
Wholesale prices
. 1923-25=100..
Retail food price^f
- do
Prices received by farmers _._
do_ _
Cost of livinst
do
109.0
113.4
105.7
' 110. 5
CONSTRUCTION AND REAL ESTATE
CONTRACT AWARDS, PERMITS, AND
DWELLING UNITS PROVIDED
Value of contracts awarded ( F . R. indexes):
94
Total, unadjusted
1923-25=100..
93
84
117
121
162
'137
135
153
159
83
78
Residential, unadjusted
do
70
93
104
105
'84
111
118
111
77
94
v 138
111
103
103
101
161
Total, adjusted
-do
' 145
117
139
152
115
74
84
87
105
Residential adjusted
do
76
88
101
117
112
90
F. W . Dodge Corporation (37 States):
32,304 36,380 48, 531
Total projects
...number.^ 29,150 31, 528 34,959 21,462 25,001
46,950 49,637
50, 551 41, 497 40,920
Total valuation
thous. of doL-- 458,620 380,347 456,189 305, 205 270, 373 479,903 406, 675 548,700 539,106 577, 392 760, 233 623,292 606,349
Public ownership
do
297,865 194,591 257,693 124,314 104, 801 268,556 184,009 267,454 313,650 348,495 520. 430 403,495 371,345
Private, ownership
do
160,755 185, 756 198,496 180,891 165, 572 211, 347 222,666 281,246 225,456 228, 897 239,803 219, 797 235,004
Nonresidential buildings:
4.978
6,144
8,746
4,120
5, 668
3,438
9,907
5,233
8,446
7,822
8,339
Projects
number..
6,262
10, 766
33,890 42,129
23,918
31, 509 44, 596
Floor area
thous. of sq. ft._ 31,023
31,898
19,718 29,451
38. 242 63, 802 46, 810 54, 417
Valuation
thous. of doL_ 192, 936 148, 367 182,618 118,757 90,058 201,458 143,304 202,492 200,456 220, 612 286, 741 218,288 269, 553
Residential buildings, all types:
24,009 ' 24,976 16,936 19,746 25, 325 29, 499 38,093
29, 246
Projects
number.. 22,633
38, 527 39, 429 37, 234 31,791
48,183
42,151
28,450 29,322 35,801
41,978
54, 571
52, 895 62, 773 43, 624 45, 403
52.098
Floor area
thous. of sq. ft.. 30,170
Valuation
thous. of d o L . 116,468 152, 838 159,275 111,306 116,459 147, 859 166,462 201, 274 205,634 205,049 231, 529 175, 713 171,772
Public works:
921
761
725
1, 086
812
975
1,283
1,589
1,701
1,487
1,871
1,419
1, 26C
Projects
number.94, 563
99,631 101,074 134,054 131,123
Valuation
-thous. of dol.. 88, 436 51, 430 73, 447 59,622 42, 242 84,592 71,426 96, 501
Utilities:
453
454
476
410
276
336
365
403
382
50 J
465
460
Projects
number.27, 712 40,849
15, 520 21, 614 45, 994 25, 483 48,433
33,385
50, 657 107,909 98, 168 70,461
Valuation
thous. of doL. GO,780
New dwelling units provided and permit valuation of building construction (based on
bldg. permits), U. S. Dept. of Labor indexes:!
Number of new dwelling units provided
171.5
178.3
175.4
160.9
168.1
204.1
273.9
253.6
198. S
283.5
264.2
253.1
244.5
1935-39=100-.
Permit valuation:
148.4
124.1
129. 6
103.9
142.2
185.3
192.9
177.9
178. 5
161.5
136.6
195.8
156.0
Total building construction
.--do
141. 3
152. 8
147.2
135.9
146. 6
180.1
241.1
221.6
236.4
233. 2
247.7
180.3
219.8
New residential buildings
do
120. 3
66.0
168. 7
271.1
139.3
114.9
168.4
147.7
135.9
162.3
100.0
104.1
89.7
New nonresidential buildings
do
83.6
87.4
79.5
84.9
125.6
135.4
87.5
108.7
131.9
140.5
125.8
112.6
130.9
Additions, alterations, and repairs.-do
Estimated number of new dwelling units provided in all urban areas (U. S. Dept. of
Labor) :f
31,126 29, 202
27, 027 r 27,720 'r 35, 347 r 47, 770 43, 452 '46, 842
44, 831 41, 007 ' 39, 371
Total
number.21,265
23,211
18, 698 ' 20, 752 27,223 ' 37, 602 34, 590 -37, 610
36, 239 34, 166 ' 33,351
1-family dwellings
do
2,375
2,073
1,917
2,429
2,760
2,871
2,151
2,319
2,945
2-family dwellings
do
2, 590
' 2, 599
5,864
4, 539
5,540
6,412
5,364
6,441
7,297
3,075
' 6 , 633
4,522
Multifamily dwellings
do
6,272
Engineering construction:
Contract awards (E. N . R.)§_--thous. of dol. 348,800 382, 724 398,704 584,549 424, 269 452,430 381, 563 409, 371 589, 221 958, 663 529,561 514, 251 406, 332
H I G H W A Y CONSTRUCTION
j
Concrete pavement contract awards:
j
Totalf
thous. sq. y d . .
4,344
5,050
4,496 | 4,967 i 2,083
3,567
5,042
7, 782
6,072
6,975
9,567
8 776
17,124
1,195
644 I
Airports*
.
do... _
535
832
1,029
2 804
2,885
1,358
3 112
3,606
1,624
9,594
2,197
Roads
do....
2,570
2,262 | 2,814 !
819 | 1,531
2,460
2,087 | 3 425 ! 3 878
2,910
4,825
2,635
Streets and alleys
do i 1,239 1,658
1,590 i 1,321 I 1,037 ' 1,007
1,630
1.596 i 1,553
2,051
2,706
1,814
1,786
' Revised.
v Preliminary.
§Data for January, May, July, and October 1941 are for 5 weeks; other months, 4 weeks.
i No quotation.
•New series. For indexes of rayon and silk prices beginning 1926, see table 29, p. 18 of the May 1940 Survey. Earlier data for concrete pavement contract awards for
airports and for the total revised to include airports will appear in a subsequent issue.
tRevised series. Indicated series on "Purchasing power of the dollar" revised beginning January 1935; see table 4, p. 18 of the January 1941 Survey. Revised data begin
ning September 1929 for indexes of new dwelling units provided and permit valuation of building construction will appear in a subsequent issue. For revision in total concrete
pavement awards, see note marked with an "*." Revised data on number of dwelling units provided for 1939 are shown in table 18, p. 17. of the May 1941 Survey. Estimates
beginning January 1940 cover urban areas as defined by results of the 1940 Census; revised data for earlier months of 1940 are available on p. 22 of the June 1941 Survey, except
for revisions in April figures as follows: all types, 38,324; multifamily, 7,013.
S-5
SURVEY OF CURRENT BUSINESS
January 1942
1940
Monthly statistics through December 1939, to- 1941
gether with explanatory notes and references
to the sources of the data, may be found in the Novem- Novem- December
ber
ber
1940 Supplement to the Survey
1941
January
February
March
April
May
June
July
Sep- October
August tember
CONSTRUCTION AND KEAL ESTATE—Continued
HIGHWAY CONSTRUCTION—Continued
Status of highway and grade crossing projects
administered by Public Roads Admn.:
Highways:
Approved for construction:
2,635
Mileage . .
no. of miles
39, 259
Federal funds._. _
thous. of dol
Under construction:
7,809
Mileage
no. of miles
Federal funds. .
thous. of dol . 126, 351
Estimated cost.
.. do . . 253, 703
Grade crossings:
Approved for construction:
10, 208
Federal funds
do
11, 588
Estimated cost
do
Under construction:
40,
464
Federal funds.
...
do
41,932
Estimated cost
do
2,892
33, 555
2,926
35, 949
3, 047
36,845
3,100
36,477
3,322
39,100
3,621
42, 405
3,765
42, 755
4,118
48,889
3, 879
47, 264
3,557
44,693
8, 236
121, 566
244, 464
7,536
113,922
228, 840
7, 315
113, 671
227, 763
7, 413
115,932
232, 054
7,773
121,029
241,877
8,334
126, 387
246,119
8,777
134,641
261, 530
8,921
139, 401
270, 967
9,054
141, 569
276,100
8,840
138, 675
272, 079
9,081
9,307
10,123
10, 781
10, 573
11,065
10, 331
10,719
11, 060
11, 632
13, 000
13,535
16, 753
17, 812
20, 459
21, 255
17, 798
18,765
14,662
15,820
12,423
13, 553
11,851
13,122
34,813
36, 352
32, 483
34,001
32, 072
33, 592
33, 226
34, 715
35, 292
36,768
37, 648
39, 300
37, 384
38,972
37, 714
39, 452
39, 548
40, 939
42, 778
44, 249
42, 328
43, 771
41, 520
42, 920
223
219
235
210
224
208
198
228
191
214
212
202
230
194
217
212
208
231
194
216
212
209
231
194
216
212
209
231
194
216
213
213
230
196
216
215
214
231
196
218
215
214
231
197
219
219
216
233
203
223
221
218
234
204
223
221
218
235
205
223
223
219
235
209
224
203
192
193
193
193
194
195
195
196
198
198
200
202
100. 7
136.3
123.5
122. 6
98.0
132.9
115.5
120.2
98.3
133.5
116.1
120. 5
98.7
133.8
116.9
120.8
98.7
133.8
116.9
120.8
98.5
133.9
119.3
120.6
99.8
134.0
119.6
121.0
99.7
134.0
119.9
121.1
99.2
134.9
119.3
120.3
99.6
135. 3
120. 8
120.7
100.5
136.1
121.5
121.3
100. 7
136.3
122.8
121. 5
100.7
136. 3
122.5
121.5
102. 4
137.9
126. 2
123. 4
99.1
135.9
118.6
120.7
99.3
136.3
119.0
121.0
99.6
136.5
119. 6
121.2
99.6
136.5
119.6
121.2
99.7
136.6
122.8
121.2
101. 7
136.6
123.0
121.3
101.7
136.6
123.2
121.4
101.3
136.9
122.7
120.8
101.6
137.1
123.8
121.1
102.2
137.7
124.3
121.5
102.4
137.9
124.7
121.7
102.4
137. 9
124.6
121.7
102.1
135. 8
128.8
123.2
98.7
132.3
114.8
120.5
99.0
132.9
115.5
120.9
99.4
133.2
117.2
121.1
99.4
133.2
117.2
121.1
99.2
133.4
121.2
121.6
100.8
133.7
122.1
122.1
100.7
133.7
122.3
122.2
100.3
134.3
121.9
121. 5
100.9
134.8
127.3
122.0
101.8
135.5
128.0
122.6
102.0
135.7
128.7
122.8
102.1
135.8
128.4
122.8
100. 0
138.0
119.5
120. 8
96.2
128.2
107.9
117.6
96.7
130.2
109.9
118.4
97.7
130.7
112.5
118.6
97.7
130.7
112. 5
118.6
96.3
131.3
114. 3
116.2
95.6
132.1
114.5
118.0
95.2
132.1
114.6
117.8
94.6
133.6
115.0
116.8
97.0
135.9
117.3
118.3
99.3
137.5
118.9
120.0
99.5
137.7
120.4
120.3
100.0
138.0
119.0
120.3
98.8
139.7
117.4
120.3
95.6
127.2
103. 3
116.6
96.2
129. 7
105.8
117.5
97.5
130.3
109.1
117.7
97.5
130.3
109.1
117.7
95.2
131.0
110. 5
114. 7
93.7
131. 9
110.9
117.0
93.1
131.9
111.0
116.6
92.1
134.2
110.4
115.5
95.2
137.1
113.3
117.3
98.1
139.1
115.3
119.5
98.3
139.3
117.6
119.9
98.8
139.7
115.8
119.9
266.1
249.1
249.7
250.5
250.7
252.4
255. 6
256.8
258.2
260.4
263.1
264.5
266.1
119.0
116.8
123.5
106.4
104.6
109.8
108.1
105.9
112.5
109.3
106.6
114.5
110.2
107.8
115.1
110.4
108.0
115. 3
111.2
108.7
116.1
111.6
108. 8
117.0
112.4
109.2
118.6
113. 6
110.7
119.3
115.1
112.6 ,
120.0
116.5
H4.4
120.7
118.5
116.0
123.3
66, 754
56, 878
54, 728
52,116
75, 516
92, 406
119, 566
122,963
114,247
104, 937
94, 948
2,899
38, 404
2,749
38, 850
8, 615
r 8, 176
136, 512 131,914
268, 926 r 260, 555
CONSTRUCTION COST INDEXES
Aberthaw (industrial building)
1914=100American Appraisal Co.rf
Average, 30 cities
1913=100 .
Atlanta
.__
do
New York..
. __
. d o
San Francisco
do
St. Louis
do
Associated General Contractors (all types)
1913=100E. H. Boeckh and Associates, Inc.:§
Apartments, hotels, and office buildings:
Brick and concrete:
Atlanta
U. S. av., 1926-29=100New York
.
. do .
San Francisco
do
St. Louis
_
do
Commercial and factory buildings:
Brick and concrete:
Atlanta .
do
New York
. . .
.do
San Francisco
do
St. Louis . . .
do
Brick and steel:
Atlanta .
do
New York
... _ . . . . _
do
San Francisco
do
St. Louis
do
Residences:
Brick:
Atlanta
...
do
New York
do
San Francisco
do
St. Louis
do . .
Frame:
Atlanta
do
New York..
do
San Francisco...
_
do __
St. Louis .
do
Engineering News Record (all types) §
1913=100..
Federal Home Loan Bank Board:f
Standard 6-room frame house:
Combined index
1935-1939=100
Materials
do
Labor
do
195
197
211
207
REAL ESTATE
Fed. Hous. Admn., home mortgage insurance:
Gross mortgages accepted for insurancel
thous. of dol — 70, 799
Premium-paying mortgages (cumulative)
thous. of dol —3,503,681
Estimated new mortgage loans by all savings
and loan associations, total, —thous. of doL.
Classified according to purpose:
Mortgage loans on homes:
Construction
do
Home purchase
do
Refinancing
do
Repairs and reconditioning
do
Loans for all other purposes . .
do
Classified according to type of association:
Federal
thous. of doL_
State members
do
Nonmembers
do
Loans outstanding of agencies under the Federal Home Loan Bank Board:
Federal Savings and Loan Ass'ns, estimated
mortgages outstanding
thous. of dol
Fed. Home Loan Bks., outstanding advances
to member institutions .. thous. of dol..
Home Owners' Loan Corporation, balance of
loans outstanding
thous. of dol
Foreclosures, nonfarm:f
Index, adjusted
1935-1939=100
31.9
Fire losses
.
thous. of dol . 23,822
107,137
2,628,851 2,706,353 2,785,138 2,846,467 2,908,104 2,968,407 3,033,684 3,108,723 3,190,690 3,261,476 3,335,703 3,423,183
94, 567
88, 553
80, 440
82, 330
105,162
120, 631
130,953
133, 640
132, 972
129,727
129, 934
127, 938
32, 584
33, 875
14, 441
4,869
8,798
30, 032
31, 465
14, 575
4,248
8,233
26, 662
27, 809
13, 645
3, 784
8, 540
26, 483
30, 283
14, 204
3,573
7,787
33,250
41, 784
16, 903
4, 765
8,460
38, 686
48, 311
16, 905
6,368
10, 361
40, 975
54, 781
18,506
5, 930
10, 761
44, 207
55, 993
17,891
5,633
9,916
44,918
55, 682
16, 816
6,022
9, 534
42,987
55,973
15, 785
5,571
9,411
40, 782
58,052
15, 871
5,884
9,345
37, 722
59,874
16, 283
5,361
8,698
38, 896
40,143
15, 528
37, 715
36, 729
14,109
34, 360
33, 947
12,133
35, 645
35, 301
11,384
45, 365
43, 947
15, 850
51, 371
50, 956
18, 304
55, 396
54, 495
21, 062
57, 542
54, 857
21, 241
56. 564
55, 676
20, 732
57, 592
54,542
17, 593
54, 786
54, 303
20, 845
52, 507
54, 930
20, 501
1,533,246 1,546,270 1.564,168 1,578,543 1,600,482 1,628,421 1,657,647 1,688,297 1,717,507 1,750,934 1,775,284 1,802,632
185, 547
201,492
170, 849
156, 899
145, 959
141, 828
145, 273
169, 897
168,145
172, 628
178,191
184,311
1,968,816 1,956,268 1,942,427 1,929,346 1,913,862 1,899,856 1,885,087 1,870,305 1,854,824 1,840,686 1,824,672 1,809,074
44.2
23, 449
42.2
28, 617
44.0
26, 470
42.1
26,102
42.5
31, 471
41.1
29, 330
38.3
25, 637
36.7
24,943
37.3
23, 698
33.5
24,122
32.9
24, 668
34.2
30, 833
r
Revised.
§ Beginning with the September 1940 issue of the Survey indexes computed as of the first of the month are shown as of the end of the preceding month. The Engineering
News Record index is similarly shown in the 1940 Supplement as of the end of the preceding month.
^Figures beginning April 1941 include mortgages insured under the defense housing insurance fund.
t Revised indexes of the American Appraisal Co. beginning 1913 are available in table 44, p. 13 of the November 1940 Survey. Data beginning 1936 for the Federal Home
Loan
Bank Board's revised index of construction costs and beginning 1926 for the index of nonfarm foreclosures are shown on p. 26 of the October 1941 Survey.
S-6
SUEVEY OF CURRENT BUSINESS
1940
Monthly statistics through December 1939, to- 1 9 4 1
gether with explanatory notes and references
to the sources of the data, may be found in the Novem- Novem- Decem1940 Supplement to the Survey
ber
ber
ber
January 1942
1941
January
February
March
April
May
June
July
August
September October
DOMESTIC TRADE
1
ADVERTISING
Printers' Ink indexes, adjusted:!
92.1
91.0
89.0
86.8
87.8
Combined index
1928-32=100..
87.7
90.5
89.1
89.5
90.7
82.9
73.9
63.3
64.5
68.8
66.7
61.3
Farm papers
do
56.9
68.3
63.4
59.4
67.7
61.8
83.6
82.1
92.0
80.7
72.6
80.9
85.3
83.7
84.1
91.6
86.5
Magazines
do
86.3
85.0
85.0
80.7
79.7
80.0
87.6
81.9
83.2
77.7
80.5
78.5
82.1
Newspapers
do
81.4
90.7
84.5
70.3
79.8
62.5
104.5
89.3
89.9
84.4
92.5
85.5
83.5
Outdoor
do
110.0
Radio advertising:
9,738
9,082
8,595
9,016
8,979
9,307
8,106
8,427
8,
655
8,
263
Cost of facilities, total
thous. of doL.
7, 979
' 9, 679
8,086
844
724
807
656
664
636
857
780
698
672
Automobiles and accessories
do—
637
778
630
74
62
69
59
60
41
46
63
Clothing
do
31
46
60
67
1
0
0
0
0
0
0
Electric household equipment
do
0
1
0
0
(•)
C)
55
100
91
99
99
99
Financial
do—
92
105
99
42
76
63
97
2,290
2,480
2,761
2,614
2,557
2,535
2,623
2,527
Foods, food beverages, confections
do
2,223
2,220
2,739
2,138
2,664
92
45
93
58
47
55
44
House furnishings, etc
do
73
55
43
46
67
105
1,052
994
949
1,040
991
915
1,045
957
1,092
1,060
Soap, cleansers, etc
do—
1,009
988
1,001
(a)
0
0
16
0
17
0
0
0
Office furnishings and supplies
do
0
0
0
17
1,254
1,394
1,416
1,281
1,336
1,352
1,263
1,328
1,296
Smoking materials
do
1,309
1,252
1,326
1,376
3,084
2,444
2,639
2,365
2, 587
2,355
2,540
2,488
2,451
Toilet goods, medical supplies
do
2, 596
' 3 , 152
2, 458
2,626
586
390
943
467
387
279
329
233
316
All other
do
252
449
227
503
Magazine advertising:
17,911
18,235
12, 520
8,713
15,861
18, 738 15, 427 10, 823 11, 281 14,643
13, 589
17,978
17,885
Cost, total
do
2,542
2,145
3,086
2,427
1,270
2,267
2,816
1,584
1,056
1,416
Automobiles and accessories
do—
2,118
1,346
1,254
592
1,031
305
878
1,210
1,124
1,165
745
803
222
Clothing
do
681
1,337
1,389
531
694
832
430
245
849
646
94
612
315
Electric household equipment
do
436
196
276
432
551
482
454
336
449
Financial
do
380
321
380
277
376
412
278
2,582
3,010
2,410
1,615
2,763
2,444
2,198
2,003
Foods, food beverages, confections
do
2,292
2,109
2,893
2,133
2,110
945
996
1,403
844
684
1,096
433
264
893
320
1,214
House furnishings, etc
do—
829
286
435
567
190
471
503
240
568
548
275
455
Soap, cleansers, etc
do
397
333
331
301
248
374
345
304
235
219
137
122
291
Office furnishings and supplies
do—
198
359
241
702
943
673
874
682
973
795
870
Smoking materials
do
863
763
782
699
606
2,340
1,177
2,295
2,135
2,472
3,053
2,081
2,505
Toilet goods, medical supplies
do
2, 456
2,033
2,435
2,939
2,009
4,180
5,220
4,991
5,341
5,133
All other
do
4,558
3,596
2,882
4,267
2,972
4,994
3,198
4,576
2,460
1,888
2,920
2,319
2,515
1,691
2,686
Linage, total
thous. of lines2, 682
2,534
1,890
1,716
2,514
2,066
Newspaper advertising:
93,963 114,377 119,230 122,443 108,432
88,828 95, 707 107,160 123,815
Linage, total (52 cities)
de- 120,624 113,191 122, 786 93,171
20,690
21,071
25, 624 24,294
21, 353
24, 712 24,911
21,918
22, 378 23,306 21,745
22.010
Classified
do_._
21,008
92,119 100, 868 71,818
73, 272
89, 665 94, 318 96, 818 84,138 66, 451 72, 401 85,415 101,805
Display, total
do
99,615
3,663
4,973
5,250
6,939
4,124
5,907
6,906
4,841
4,918
3,108
5, 607
2,980
Automotive
do
3,034
1,359
1,743
1,742
1,841
1,976
1,664
1,889
1, 551
1,432
2,295
1,534
Financial
do
1,515
1,337
16, 796 13, 549 12, 544
17, 228 17, 625 18, 314 16, 362 13, 094 11,692 15,343
14, 806
19,993
• General
do
20,002
68,992 81,452
69, 822 61,193 48, 360 56, 338 65, 558
53,315
64, 689 67,811
51, 784
74, 654
Retail
. . d o . . . . 73,258
GOODS IN WAREHOUSES
Space occupied in public-merchandise ware76.6
75.8
73.9
76.2
79.0
75.1
houses
percent of total,.
80.6
79.5
78.1
80.2
80.2
79.9
NEW INCORPORATIONS
2,084
1,804
Business incorporations (4 States)
number. .
1,712
1,479
1,872
], 229
1, 732
1,792
1,412
1,332
1,500
1,343
POSTAL BUSINESS
Air mail: Pound-mile performance
millions
1,761
1,813
!,018
1,668
2, 062
2.106
2,083
Money orders:
Domestic, issued (50 cities):
4,794
4,879
Number
thousands..
4,914
5, 553
4,845
4, 931
4,373
4,496
4,932
5,207
4,821
4,702
4,636
Value
thous. of dol
44,982
41,646
53, 309 46,535 46, 898 47,001 47, 643 47, 573 50,413
43,005
45,154
50,334
53,186
Domestic, paid (50 cities):
16,096
15,054
Number
thousands.. 15,464
14, 802 14, 516 14, 833 14, 567 14, 795
17,084
14,177
13,530
15, 876 14,541
Value
thous. of dol
134, 759 111,864 123,430 111,638 104,754 128, 510 118,156 116,544 116,275 122, 895 122,493 128,836 149,199
1,244
Foreign, issued—value
..do..
1,125
1,195
1,155
1,328
1,843
1, 719
915
1,328
1,133
1,458
Receipts, postal:
32,316
34,036
33, 722 31, 202 30, 637 30, 442 33,087
33,201
34,486
50 selected cities
do_.
33,805
30, 536
45,390
36, 948
4, 424
3,961
4,159
3,777
3,948
50 industrial cities
do..
5,539
4,001
3,824
4,193
3,821
3,712
3,887
RETAIL TRADE
4,502
All retail stores, total sales*-mil. of dol__
3,639
4,895
••4,641
4,108
3,537
4,752
4,207
4,598
4,576 ' 4, 473 4,608 '4,453
144. 7
Index, unadjusted
1935-39=100..
146.6
128.4
148.2
127.9
142.2
135.5
' 140.1
'138.3
118.1
110.2
145.1
140.1
138.0
196.7
141.7
155.0
155.1
182.9
Durable goods
do__.
137.6
120.5
'137.2
' 137. 5
190.3
172.1
155.6
146.9
130.4
124.1
146.0
106.9
119.1
129.0
111.8
'141.0
' 138. 6
Nondurable goods
do_..
130.5
135.1
123.7
139.2
141.5
123.4
124.5
135. 2
136.2
'135.6
'131.3
138.0
149.3
Index, adjusted
do__
136.6
130.3
143.3
132. 7
174.8
136.0
148.5
167.6
166.2
' 137.8
' 128. 1
173.7
156.8
163.9
163.5
Durable goods
do...
169.5
141. 3
130.7
119.3
116.7
124. 7
126.5
121.7
'135.9
r 132. 3
124.6
129.6
144. 7
Nondurable goods
do...
134.8
Automobiles, value of new passenger-car sales :f
246
143
163
215
235
178
100
* 111
150
214
91
Unadjusted
1935-39=100..
169
209
169
135
210
178
93
182
104
196
Adjusted
do...
185
v 125
Chain-store sales, indexes:
Chain-store Age, combined index (20 chains)
124.0
124.0
128.5
130.0
132.0
128.0
132.0
147.0
140.0
133.0
151.0
141.0
average same month 1929-31 = 100 . . 151.0
133.0
153.0
136.0
133.0
145.0
149.0
164.0
144.0
148.0
136.3
162.0
184.0
159.0
Apparel chains
do..
Drug chain-store sales:*
104.1
105.2
107.7
100.4
109.2
140.3
112.2
113.5
113.9
v 115.0
111. ti
109.7
109.9
Unadjusted.
1935-39=100
107.4
108.7
109.7
105.3
116.0
103.8
1 IS. 2
111.4
v 114.5
116.1
119.9
Adjusted
do..
115.3
11D.I)
Grocery chain-store sales:
118.4
123.4
127.4
115.3
130.2
120.8
130.8
J4f>.N
137.8
Unadjusted
1929-31 = 100.. v 148.1
135.5
136.8
133.7
126.1
117.2
115.3
126.4
128.9
122.0
145. 1
122.8
140. 7
Adjusted
do.... p148.1
133.5
142.5
136.4
Variety-store sales, combined sales, 7 chains:f
p
92.1
80.5
110.2
225.2
112.9
122.0
94.8
116.1
Unadjusted
1935-39=100. v 130.7
120.4
111.3
113.1
111.9
r
109.9
109. 7
116.2
116.4
113.2
Adjusted
do
114.0
110.3
125.3
123.9
128.9
116.8
* 127.0
122.2
Chain-store sales and stores operated:
Variety chains:
H. L. Green Co., Inc.:f
2,996
4,227
7,972
4,395
3,546
Sales
thous. of dol..
4,315
2,890
4,600
4, 290
4,2L8
4,899
3,927
3,733
149
151
151
150
149
Stores operated
number..
150
150
151
151
151
149
150
S. S. Kresge Co.:
13,443
9,409
10,150
11,507 13,314
Sales
.
thous. of dol.
13, 290 24,683
14,832
12,809
14,102
12,127
12, 016 13,366
675
684
Stores operated.^
.number
671
675
673
674
678
673
671
672
672
071
S. H.Kress & Co.:
7,659
6,222
5,921
8,427
15,
732
8,458
7,156
8,062
7,958
8 022
8, 483
Sales
thous. of dol.
7,582
7,724
242
242
242
242
242
242
242
242
242
242
242
Stores operated
number.
242
242
r
Revised.
v Preliminary.
° Less than $500.
§Includes data for radio advertising not available separately since November 1840.
fRevised series. Revised indexes of variety store sales beginning 1929 appear in table 30, p. 10 of the August 1940 Survey. H. L. Green Co. data revised beginning February 1939; for an explanation of the revision and revised data, see notes marked with a"f" on p. 24 of the September 1940 and December 1940 Survey. For revised data on
value of new passenger-car sales beginnirg 1929, see p. 20 of the August 1941 Survey, and for an explanation of the revision, pp. 18 and 19 of that issue.
•New series. For data on sales of all retail stores beginning 1935, see table 5, p. 24 of the October 1941 survey. For data on drug-store sales beginning July 1934, see
table 1, p. 11 of the November 1940 Survey.
S-7
SURVEY OF CURRENT BUSINESS
January 1942
Monthly statistics through December 1939, to1941
1940
gether with explanatory notes and references
to the sources of the data, may be found in the Novem- Novem- December
1940 Supplement to the Survey
ber
ber
1941
January
February
March
April
May
June
July
August
September
Octber
DOMESTIC TRADE—Continued
RETAIL TRADE—Continued
Chain store sales and stores operated—Con.
Variety chains—Con.
McCrory Stores Corp.:
4,655
Sales
thous. of doL
4,058
8,028
Stores operated
number.
201
204
202
G. C. Murphy Co.:
Sales..
thous. of doL
5,608
4,884
9,042
205
Stores operated
number.
202
204
F. W. Woolworth Co.:
33, 776
54,571
Sales
thous. of doL
29,687
2,024
Stores operated
number2,025
2,023
Other chains:
W. T. Grant Co.:
Sales
thous. of doL. 12,170 r 10, 628 20,030
Stores operated
number...
494
494
494
J. C. Penney Co.:
Sales
thous. of doL. 40, 416
33,765
45, 716
Stores operated
number..
1,605
1, 586
1,586
Department stores:
Collections and accounts receivable:
Installment accounts:
Index of receivables*.Dec. 31, 1939=100..
100.7
109.0
Collection ratio
percent..
18.5
18.1
Open accounts:
Index of receivables*.Dec. 31, 1939=100.
105.3
83.0
Collection ratio
percent44.9
48.8
Sales, total U. S., unadjusted...1923-25 =100
179
132
114
223
169
141
Atlanta t
1935-39=100
145
102
92
Boston
1923-25=100
199
130
Chicago!
1935-39=100
178
116
136
Cleveland
1923-25=100.
201
131
153
Dallas
- do ..
158
106
Kansas City
.1925=100
' 100
173
123
Minneapolis!
1935-39=100
118
184
130
New York
1923-25=100.
120
148
117
Philadelphia
do...
100
239
175
Richmond
do
148
167
St. Louis
do
112
188
San Francisco§
do
116
101
Sales, total U. S., adjusted!
do....
116
100
129
154
Atlanta!
1935-39=100.
129
118
Chicago !
do ._
118
104
Cleveland.....
.
1923-25-100..
107
'127
116
Dallas
_....
do _
137
117
111
Minneapolis!-...,
1935-39=100..
123
117
102
New York
_.....
1923-25=100..
109
101
81
Philadelphia
...
.
___do
97
82
101
St. Louis
...___do
114
96
109
San Francisco§
do
110
Installment sales, New England dept. stores
percent of total sales. _
7.0
10.5
8.9
Stocks, total U. S., end of month:
Unadjusted
1923-25=10083
v 110
Adjusted
do
72
71
Mail-order and store sales:
Total sales, 2 companies
thous. of dol.. 152, 308 127,938 166, 723
Montgomery Ward & Co
do
63, 345 54, 613 70, 850
Sears Roebuck & Co
do
88, 963 73, 324 95, 873
Rural sales of general merchandise:
Total U. S., unadjusted
1929-31 = 100.. 243.2
179.4
233.7
East
do
269.1
176.0
256.2
268.3
South
do
330. 3
233.9
210.6
Middle West
do._
209. 6
164. 5
245.2
Far West
do
235. 7
186.5
146.1
Total U. S., adjusted
do.._.
186. 3
137.9
153.9
208. 8
136.6
East
do....
178.7
240. 6
170.3
South
_.do
135.0
159. 9
125.5
Middler West
do....
150.2
194.3
153.8
Far W est
.
do
2,926
199
3,224
199
3,691
199
4,241
199
4,101
200
3,923
200
3,948
201
4,320
201
4,164
201
4,422
201
3,479
204
4,021
204
4,949
204
5,302
204
4,931
204
4,971
204
5,379
204
4,870
204
5,575
204
22,008
2,021
3, 531
204
23,666
2,023
26, 436
2,020
29,494
2,015
29,778
2,020
27, 653
2,018
2,018
30, 713
2, 019
30,097
2,018
32, 614
2,025
6, 655
494
6,771
492
8, 439
492
9,805
493
10, 576
493
9,537
493
8,731
493
10, 069
493
10, 063
493
11,£
493
20, 284
1,586
18,345
1,587
22, 772
1,589
27, 555
1,591
29, 383
1,591
28, 390
1,593
26,143
1,593
32, 385
1,596
33, 645
1,598
38, 718
1,603
103.6
17.6
101.2
17.5
99.4
19.2
101.7
18.8
103.3
19.0
102.6
17.7
101.2
17.6
110.5
18.9
19.3
84.8
47.5
79
93
69
89
75
96
75
92
78
55
99
80
90
101
122
113
100
126
115
99
77
100
109
74.9
44.6
81
110
63
94
84
100
76
79
79
63
94
81
90
103
127
112
107
118
111
97
82
94
108
74.5
46.3
93
125
74
109
95
112
95
108
84
74
121
97
99
103
125
116
108
118
109
98
82
107
111
80.1
46.1
106
137
86
120
115
117
93
122
100
88
142
111
110
104
141
118
105
118
119
103
87
105
112
81.1
47.7
105
136
89
125
111
124
100
122
95
87
146
105
79.4
46.2
100
114
82
119
105
110
85
114
98
81
129
92
71.0
46.1
79
102
63
92
85
93
79
93
81
62
107
82
107. 6
18.8
78.0
45.0
106
144
82
122
120
128
106
127
100
80
139
106
90.6
45.1
125
158
100
151
130
151
114
142
125
94
153
128
46.9
112
' 138
* 98
123
109
127
106
140
112
95
'169
119
105
138
124
103
124
124
99
87
105
104
134
123
107
123
115
102
83
100
115
148
131
117
132
131
114
91
119
134
163
154
145
166
145
134
107
141
116
146
137
124
136
124
120
94
120
105
125
117
105
113
117
98
82
106
11.7
12.7
11.7
10.7
10.8
9.5
11.8
17.4
12.0
10.8
64
71
70
73
75
74
76
74
76
73
74
77
133,787 145,359 131,439
58,068 60, 520 52, 872
75, 719 84,839 78, 568
73
82
83,466
33, 495
49, 971
110.9
112.3
139.0
102.3
110.5
145.7
147.7
175.7
133.7
150.3
83, 832 110,866
33, 841 44,485
49,992 66, 381
122.0
128.0
161.8
110.3
111.1
150.8
156.5
177.4
138.7
150.1
130.7
138.5
160.5
117.7
138.4
148.9
154.2
177.8
132.8
168.1
151.7
163.4
176.6
139.7
146.7
165.1
171.4
200.5
149.6
164.3
148.5
158.2
167.0
144.3
132.9
161.8
172.0
196.9
152.4
147.9
T
121,176
48, 305
72,870
108
95
84
97
92
87
145, 519 145, 495 164, 394
57, 803 59, 780 68, 138
87, 716 85, 714 96, 256
148.7
163.2
163.3
143.4
143.6
163.2
177.7
203.1
151.9
150.7
129.7
151.1
134.1
120.9
131.6
177.7
212.2
197.5
163.9
160.5
170.7
186.0
183.9
153.3
194.7
208.7
233.3
255.0
185.8
211.4
183.8
158. 8
221.2
173.9
185.1
217. 2
154.9
189.1
216.4
221.8
299. 9
187.7
223. 0
166.6
172.3
202. 4
147.8
185.7
181.9
239.8
EMPLOYMENT CONDITIONS AND WAGES
EMPLOYMENT
Employment estimates, unadjusted (U. S. Department of Labor):*
Civil nonagricultural employment, total
thousands..
Employees in nonagricultural establishments, total
thousands.Manufacturing
do
Mining
do
Construction
do
Transportation and public utilities-do
Trade
do
Financial, service, and misc
do
Government
do
Military and naval forces
do
r
40, 693
37, 528
38,161
37,142
37,448
37, 761
38, 228
38,902
39,475
39,912
40,289
40,715
• 40, 776
34, 550
12,728
911
1,970
3, 307
7,131
4,231
4,272
2,071
31, 385
10, S94
853
1,709
3,065
6,795
4,088
3,881
822
32,018
11,127
855
1,720
3,039
7,247
4, 099
3,931
884
30,999
11,075
852
1,623
3,012
6,487
4,063
3,887
958
31, 305
11,273
854
1,678
3,028
6,491
4,075
3,906
1,145
31,618
11,457
864
1,631
3,056
6,578
4,097
3,935
1,343
32,085
11, 684
564
1, 775
3,113
6,792
4,174
3,983
1,546
32,759
11,886
869
1, 782
3,185
6,753
4,235
4,049
1,662
33,332
12,154
876
1,816
3,239
6,861
4,260
4,126
1,740
33,769
12,395
888
1,895
3,290
6,837
4,300
4,164
1,857
34,146
12, 592
900
1,921
3,326
6,897
4,300
4,210
1,944
34, 572
12, 782
906
r 1,936
' 3, 367
7,008
4,325
4,248
1,992
• 34, 633
• 12, 798
'915
r
1, 960
r 3, 365
' 7, 070
r
4, 256
' 4, 269
2,014
Preliminary.
Revised.
y
§Indexes
§ d e e are
a e in
n process
p o e s of revision,
e
t t t
l in
i Atlanta
A t l t and
d Mi
!Revised series. Id
Indexes off ddepartment-store
sales
Minneapolis districts revised beginning 1919, and Chicago beginning 1923; for Atlanta, see table 53
p. 16 of the December 1940 Survey; for Minneapolis, table 20, p. 18 of the May 1941 Survey; revised Chicago data will appear in a subsequent issue. For revisions in adjusted
index of United States department-store sales for 1935-39, see note marked with a " t " on p. 25 of the January 1941 Survey
*New series. Indpxes of department store receivables are available only beginning January 1940- 1940 data not shown above are available on p. S-7 of the September 1941
Survey. Estimates of total civil nonagricultural employment, employees in nonagricultural establishments, manufacturing, and service industries (included in the miscel-
pp. 17 and 18 of the March 1941 Survey.
433529—42-
-5
S-8
SUKVEY OF CURRENT BUSINESS
Monthly statistics through December 1939, to- 1941
gether with explanatory notes and references
to the sources of the data, may be found in the Novem1940 Supplement to the Survey
ber
1940
Noveni- December
ber
January 1942
1941
January
February
March
April
May
Tune
July
August
J ^ e r °bCer°-
EMPLOYMENT CONDITIONS AND WAGES—Continued
EMPLOYMENT—Continued
Employment estimates, adjusted (Fed. Res.):*
Civil nonagricultural employment, total
37, 364 37, 972 38, 097 38, 314 38, 263 38, 329 38, 824 39, 296 39, 908 40, 097 40, 019 ' 40,185
thousands-. 40, 540
Employees in nonagricultural establish31.221
31,829
31. 954 32,171
32,120 • 32,186 32, 681 33,153
33. 765 33, 954 33, 876 ' 34, 042
ments, total
.- thousands.. 34, 397
12,611
12, 699
12, 551 ' 12, 592
Manufacturing.
do
10,957
11,160
11,297
11, 335 11,413
11,636
11, 886 12, 221 12,610
923
890
855
914
908
889
'892
Mining... .
do
833
837
849
846
572
877
1,666
1,934
1,933
1,668
1,683 ' 1, 776
1,644
Construction
do
1,669
1, 974
2,014
2,132
1, 859
1,698
3,302
3.105
3,264
3,303 ' 3,292
3,295
3,220
Transportation and public utilities.do
3. 053
3, 064
3, 077
3.087
3, 133
3,192
7,027
6,677
6,944
6,968 ' 6, 989
6,865
Trade
do..-~
7,028
6,698
6,770
6,630
6,662
6,803
6,781
Manufacturing, unadjusted (U. S. Department
'
133.1
116.2
115.5
117.8
134.5
114.7
119.9
122.6
124.9
127.9
'130.6
' 135. 2 ' 135. 3
of Labor)!-1923-25= 100..
144.2
123.7
135.1 ' 137.6
Durable goodst
do
138.7 ' 142.1 ' 144. 0
115.5
117.6
118.3
121.0
127. 7
131.3
Iron and steel and their products, not in139.9
122.2
139.1
127.2
119.3
121.6
125.0
129.4
136.1
cluding machinery
1923-25=100132.9
137.7
140.5 ' 139. 5
Blast furnaces, steel works, and rolling
149.1
129. 5
131.3
127.3
133.3
135.0
137.4
148.1
140.6
144.0
147.2
148.9 ' 147. 9
mills
1923-25=100-.
113.2 ' 116.0 ' 115.2
117.1
113.0
118.3
Hardware
do...
103.8
109.0
112.5
112.8
114.9
116.6
116.7
Structural and ornamental metal work
110.0
90.4
93.5
95.9
97.2
86.5
99.1
102.3
105. 5
107.4
107.1
1923-25= ] 00—
109.3 '109.5
145.3
107.1
132.0
Tin cans and other tinware
-.-do
138.7
138.8
145. 0 ' 130.1
100.2
98.9
101.8
104.1
109.5
120.5
81.0
72.6
78.2
Lumber and allied products
do
74.4
73.7
71.3
72.0
79.5
'80.4
76.8
'79.7
73.8
74.7
108.4 ' 107.6 ' 107.4
108.1
96.7
Furnituredo
103.8
105.6
97.0
97.4
93.7
95.8
97.6
100.1
70.7
67.0
63.7
Lumber, sawmills
do
67.1
7.0.4
' 69. 4
70.0
66.1
64.7
62.5
62.9
65.2
65.7
176.5
180. 8
Machinery, excl. transp. equipment do
147.7
167.7
' 180.1
131.2
136.1
139.8
143.5
156.2
162.5
172.3
' 178. 6
Agricultural implements (including trac172.0
136.6
149.6
144.2
tors)..-.
1923-25=100..
143. 2
132.6
168.5
171.4
166. 3
170.7
' 169. 9
171.8
170.7
Electrical machinery, apparatus, and
167.4
129.4
136.4
169.2
120.6
125.8
141.5
163.8
supplies
1923-25=loo.
147.3
154.0
' 169. 0
158.8
168.7
Engines, turbines, water wheels, and
314.1 ' 324. 3 ' 338. 8
222.4
341.1
200.5
210.5'
236.3
247.6
257.2
271.5
297.8
windmills
1923-25=100..
285.5
123.6
145.6
Foundry and machine-shop products, do
148.8
110.1
114.1
117.4
120.0
130.0
134.9
147.0 ' 147. 8
142.6
139.1
307.1
351. 5 ' 356. 8 '361.5
367.3
Machine tools*
do.
265.9
276.0
285.8
297.2
316.7
327.4
346.0
338.5
149.1
202. 4
218.1
Radios and phonographs
do.
212.5 '217.9
159.4
158.5
147.5
144.8
158.5
173.7
188.7
ISO. 7
137.0
145. 2
Metals, nonferrous, and products
do
129.9
131.2
131.1
134.7
138.7
139.9
141.9 ' 143.1 ' 145.5 ' 146. 5 ' 147. 4
180.5
192.9 ' 193. 5 ' 192. 6
188.4
Brass, bronze, and copper products.do
162.4
168.1
171.6
176.0
182.6
184.3
189.7
189.3
89.7
101.3
101.8
Stone, clay, and glass products
do
101.8 '101.9
88.6
88.7
85.9
86.9
93.0
95.6
99.6
97.1
65.4
79.4
76.4
'77.5
Brick, tile, and terra cotta.
do.
79. 1
64.8
65.2
64.8
64.1
69.2
72.7
77.6
74.7
119.5
130.0
133. 9
' 132. 3
Glass
_
-.do130.3
117.0
116.8
114.4
115.8
121.8
124.0
127.9
125.5
161.2 ' 166. 3
207.2 ' 145. 8
Transportation equipment!
do
149.2
152. 6
157.2
171.7 ' 177.8 ' 179.0 ' 172.0 ' 190. 6 ' 202. 9
9, 643. 7 4, 402. 3 4, 684.1 5, 037. 7 5, 344.0 5, 563. 7 5, 929. 2 6,305.1 •6,718.1 7, 231. 3 7,897. 3 •8,515.7 9,174.8
Aircraft*.
._.
do.
131.5
127.0
Automobiles.
do.
129.8
130.2
128.5
130.1
132.4
134.1
126.9 '110.9
123.4 ' 128.8
134.8
272.4
523.8
388.3
Shipbuilding*
do.
204.1
221.0
240.3
256.6
375. 3
439. 6 ' 492. (J
295.8
310.7
338.6
116.3
125.2 '113.8
127.7
Nondurable goodst
do
114.8
112.7
114.7
117.8
118.8
123.9
128.7 ' 127. 1
121.1
Chemical, petroleum, and coal products
125.7
126.3
135.7
135.4
125.3
128.5
131.6
141.9 ' 146. 4 ' 148.1
147.3
139.0
1923-25=100..
136. 8
159. 3
180.1 ' 181.9 ' 182. 5
183.3
148.0
149.9
152.0
155. 1
Chemicals
do.
162.4
166. 8 ' 172. 2 ' 175.9
132.9
144.8
142.6
145.5
Paints and varnishes
do.
144.8
143. 9
144.0
125.9
126.0
126.3
128.6
137.4
141.4
119.5
127.9
128.5
120.7
119.8
119.1
119.2
127
A
Petroleum refining
do
125.2
128.5 ' 129. 2
120.5
122.0
312.2
329.3
322.3
324.4
Rayon and allied products
.do
327.0
327.0 ' 325. 0
314.5
315.1
313.5
311.0
317.9
323.5
120.3
159.3
145. 2 ' 132. 6
144.8
Food and kindred products
do
135.2
162. 7 ' 152. 4
130.5
121.4
119.1
123.6
127.4
145. 0
152.7
154.1
150.2
Baking
do
152. 2
145. 5
144.1
140. 5
142.9
146. 5
149.0
153. 5 ' 154. 5
110.7
122.4
129.2
123.1
Slaughtering and meat packing
do
120.3
116.2
125.0
116.3
110.6
110.2
116.8
123.6 ' 125. 9
101. 1
101.0
Leather and its manufactures
do
98.7
98.1
'98.4
97.0
98.9
87.0
90.6
93.4
96.9
98.0
95.5
Boots and shoes
do
94.9
'94.7
97.0
92.5
84.1
88.0
91.4
95.0
95.8
93.0
98.1
98.3
95.2
Paper and printing
..do
121.6
126.5
118.1
126.8 r 118.2
123.0
123.9 ' 124. 9
119.5
116.7
117.1
119.4
120.8
124.6
'
128.2
Paper and pulp
do
118.5
128.5
115.7
115.9
115.7
117.3
120.3
122.7
126. 0
127.8 ' 128. 4
110.7
Rubber products
do
102. 8
111.8
111.4
111.8
111.5 ' 111.8
94.4
97.5
98.8
100.7
105. 0
1C6.4
86.3
'
86. 2
Rubber tires and inner tubes
..do
86.9
75.2
76.9
77.9
78.6
80.0
87.4
86.7
86. 5
82.3
83.3
112.6
113.3
111.6
113.2
Textiles and their productsf..
-do
115.4
115.5 ' 1 1 4 . 7
105.5
107.0
106. 4
110.1
112.1
112.5
'
106.
2
106.0
102.7
107.0
106. 2
106. 9
106.3 r
Fabricst
do
98.7
100.4
99.7
101.7
103.7
105.1
129.1
124.9
127.2
122.2
121.9
129.6
131.2
Wearing apparel
do
116.2
117.2
116.8
124.2
126.2
124.2
67.3
68. 1
63.3
65.4
65.5
65.8
' 63. 9
Tobacco manufactures
do
66.8
65.6
60.8
63.7
63.5
64.9
134.1
119.4
128.7 ' 133.4 ' 133. 3
132.4 ' 1 3 2 . 7
114.2
116.6
118.3
118.6
122.0
124.9
Manufacturing, adjusted (Fed. Res.)t
do
143. 2
114.6
117.5
121.1
122.1
123.0
126.3
129.5
140.8 ' 141.4
134.0
141.3 ' 142. 3
Durable goodst
do.
Iron and steel and their products, not In140.3
118.9
125.5
126.2
128.3
139. 7 ' 138. 2
138.7
122.4
124.8
132.0
136.0
' 139.1
cluding machinery
1923-25 = 300
Blast furnaces, steel works, and rolling
150
148
133
133
136
127
133
145
149
148
130
140
149
mills
1923-25=100.r
116
115
116
118
105
113
116
109
113
113
114
115
116
Hardware
do
Structural and ornamental metal work
' 107
91
96
100
101
103
104
106
' 107
107
86
100
105
1923-25= 100..
132
142
129
132
113
'127
103
104
109
112
113
122
131
Tin cans and other tinware
do
78.4
77.2
75.9
77.4
' 76. 3
74.0
78.9
73.6
75.2
76.3
75.5
74.2
74. 6
Lumber and allied products
_..do
107
106
' 101
98
104
103
108
93
96
97
98
101
104
Furniture
do
68
65
67
65
68
68
67
66
67
68
67
65
64
Lumber, sawmills
do
130.9
136.0
141.
2
144.2
155.8
161.6
Machinery, excl. transp. equipment..do
167.3
148.1
173.0 ' 177.7
177.7 ' 179.3
180. 6
Agricultural implements (including trac143
147
140
158
166
140
tors)
1923-25=100-.
182
170
126
175
' 180
181
171
Electrical machinery, apparatus, and sup131
147
137
153
120
126
plies
1923-25=100..
168
159
142
164
168
168
' 168
Engines, turbines, water wheels, and
211
239
237
259 !
218
windmills
1923-25=100245 j
314
275
243
293
321
359
' 347
Foundry and machine-shop products
'146
129
I
114
118
120
139
110
134
1923-25=100-.
124
143
147
149
148
366
315
337
326
265
275
286
296
Machine tools*
do
304
349 j
187
355
365
184
189 !
197
360
142
150
155
165
Radios and phonographs
do
178
191 ' 148. 5
183
195
' 179
138.9 ! 140.7
144.1
126.3
129.4
133.3
135.1
Metals, nonferrous, and products
do
136.2
141.3
195 ' 146. 4 ' 143. 1
181 I
183
191 ' 148. 5
162
168
173
176
Brass, bronze, and copper productsdo
179
193
195
188
98.4
191
93.7
92.3 1 92. 1
88.4
90.4
94.6
92.9
Stone, clay, and glass products
do
92.3
98.6
101.2
'98.8
74 | 98.7
69
69
70 j
Brick, tile, and terra cotta
do. .
65
68
75
74
r
71
73
74
76
73
124
130
122
121 I
117
117
120
116
Glass
do
118
131
130
134
' 131
174 6
192.2 I
158.9 j 164.8
143. 9
145.6
150. 4
152. 9
Transportation equipmentt
-do
154.1
196.6
6, 538
7,960 ! 195.0 r' 204. 2
5,813 j 6,121
Aircraft*
. . d o j 205. 8
4,447
4,731
5,089
5, 398
5, 509
7,208
9.741
9, 459
132
128
137 I 8,836
127
124
123
123
125 !
Automobiles
. do
123
149
127
124
' 129
-341
' 398 i
'285 i '301
Shipbuilding*
do.-.J
204
220
244
262
268
387
437
524
'487
' Revised.
t Revised series. For revised indexes, beginning in 1937 for all industries and nondurable goods, and January 1938 for durable goods, see table 12, p. 18 of the March 1941
Survey. Slight revisions were made in data for textiles and products and fabrics beginning 1933; revisions not shown on pp. 25 and 26 of the May 1940 Survey are available
upon request. Index for transportation equipment revised beginning January 1939; see table 57, p. 17 of the December 1940 Survey.
*New series. Adjusted estimates of employment beginning January 1929 will be shown in a subsequent issue. For indexes beginning 1923 for machine tools and shipbuilding, and index for 1931 through 1938 for aircraft, see tables 39 and 40, pp. 15 and 16 of the October 1940 Survey; for aircraft indexes (revised) for 1939, see table 57, p. 17 of
the December 1940 Survey.
S-9
SURVEY OF CURRENT BUSINESS
January 1942
Monthly statistics through December 1939, to- 1941
1940
gether w\th explanatory notes and references
to the sources of the data, may be found in the Novem- Novem- Decem1940 Supplement to the Survey
ber
ber
ber
1941
January
February
March
April
May
June
July
August September
October
EMPLOYMENT CONDITIONS AND WAGES—Continued
EMPLOYMENT—Continued
Manufacturing, adjusted (Fed. Res.)—Cont.f
Nondurable goodsf
1923-25= 100..
Chemical, petroleum, and coal prod, do
Chemicals
do
Paints and vnrnishes
do
Petroleum refining
do
Rayon and allied products.
do
Food and kindred products
do
Baking
do
Slaughtering and meat packing
do
Leather and its manufactures..
do
Boots and shoes
-do
Paper and printing—
_
do
Paper and pulp
do
Rubber products
do
Rubber tires and inner tubes
do
Textiles and their products!
do
Fabricsf
do
Wearing apparel
do
Tobacco manufactures
do
Manufacturing, unadj., by States and cities:
State:
Delaware
1923-25 = 100..
Illinoist
1935-39=100.
Iowa
1923-25=100
Maryland
1920-31 = 100..
Massachusetts
1925-27=100.New Jersey
....1923-25=100..
New York
1925-27=100..
Ohiot
1935-39=100..
Pennsylvania
_. 1923-25= 100..
Wisconsin t
..1925-27= 100..
City or industrial area:
Baltimore
1929-31 = 100..
Chicagof
1935-39=100Cleveland
1923-25=100..
Detroit
do
Milwaukee
1925-27= 100..
New York
do
Philadelphia
1923-25=100..
Pittsburgh
do
Wilmington
do_...
Nonmfg., unadj. (U. S. Dept. of Labor):
Mining:
Anthracite
1929=100..
Bituminous coal._
do
Metalliferous
do
Crude petroleum producing
do
Quarrying and nonmetallic
do
Public utilities:
Electric light and powerf.
do
Street railways and busesf
do
Telephone and telegraphf
do
Services:
Dyeing and cleaning
do
Laundries
do
Year-round hotels
do
Trade:
Retail, totalt
do
General merchandising!
do
Wholesale
do
Miscellaneous employment data:
Construction, Ohiot
1935-39=100..
Federal and State highways, total+.number-.
Construction (Federal and State)
do
Maintenance ()
(State)
do
Federal civilian employees:
United States
do
District of Columbia
do
Railway employees (class I steam railways):
Total
thousands, .
Indexes: Unadjusted
1923-25 = 100..
Adjusted
do
I
125.4
145. 9
182
144
128
319
146.3
153
127
104.5
102
124.9
129
110. 6
87
113.2
104.9
120. 9
64.8
113.8
123.9
147
127
120
311
132.4
144
114
93. 8
92
116.8
116
93.6
75
105. 3
97.7
118.0
63.4
115.7
125.3
151
128
120
314
135. 6
144
121
94.3
93
117.3
116
96.8
77
107.2
98.7
121.9
64.7
115.6
126.8
154
130
120
310
133.3
143
112
93.3
91
117.1
110
99.0
78
107.3
98.8
122.0
66.3
115.2
128.1
157
130
120
306
131.0
145
111
93.2
91
117.2
117
100. 4
79
107. 1
99.1
120. 5
64.9
115.9
129.0
161
134
121
308
131.3
146
113
94.3
92
118.5
119
102.0
80
107.6
100.4
119.3
64.0
118.0
133. 6
163
135
121
324
132.5
148
114
95.5
93
119.8
120
103.9
82
109.8
103.3
119.8
65.0
120.5
136. 9
168
136
123
330
135. 0
149
119
96.8
94
121.2
123
106.1
83
112.9
105.9
124.0
65.8
123. 7
140.7
172
140
125
337
137.3
151
121
101.0
98
122.9
125
111.7
86
116.1
109.0
127.0
65.8
' 12fi. 3
' 143. 0
173
145
127
326
' 138. 4
149
'123
J00. 2
97
124.8
126
113.0
87
' 120. 0
111. 1
'135.0
65.7
' 125. 5
' 145.1
179
148
127
328
' 140.9
152
'124
97.9
94
125.1
128
113.3
87
117.1
109.6
' 128.8
64.4
123.8
144.6
179
145
127
324
138.6
151
125
98.0
94
124.3
128
111.6
87
114.7
107.2
126.6
61.9
' 123. 6
' 145. 4
180
144
'129
'323
' 140. 7
152
126
'99.6
96
124.9
128
' 110. 2
86
'112.7
105. 2
' 124. 7
64.1
136.1
139. 0
161.7
146.4
100.1
108.7
118.9
151. 1
116.3
87.6
120. 5
103.6
114.8
96.4
107.6
111.4
118.4
144.8
117.4
87.0
120.0
103.5
116.6
96.2
107.3
112.2
119.3
144.4
119.0
90.7
123. 1
107.2
120.0
98.3
107.0
116.7
120.1
146. 7
122.8
92.9
126.5
110. 1
123.0
100.0
109.4
124.1
126.1
149. 6
127 4
94.9
129.2
112.0
125. 9
102.6
116.3
129.7
129. 6
152.3
131.9
66. 1
132. 3
113.8
129.0
104.4
118.7
129.4
133.1
154.9
135.0
97.6
135.3
115.9
131.8
106.7
121.7
134.7
136.6
156. 6
138.9
99.1
337.6
118.4
134.fi
108.7
122.4
142.5
140. 3
159.1
142.8
99.1
136.4
122.8
136.6
110.3
124.7
147.5
139.7
160.1
144.6
99.5
138. 4
126. 4
' 138. 6
110.5
126.4
' 137. 8
139.1
161.5
' 145.4
100.2
110.9
126.5
104.9
116.2
147.0
<• 115.2
85.3
118.0
101.0
112.9
95.2
' 105.3
126. 9
138.5
111.0
' 126. 7
146.1
140. 2
134.3
119.7
134. 9
124.7
118.0
118. 1
124.9
111.7
115.9
109.4
122.0
111.2
102.5
95.7
98.4
95.7
113.1
119.3
110.0
121.5
113.7
103.0
97.1
100.1
99.6
113.5
118.7
112.4
123.0
115.3
104.8
96.7
101.6
102.3
116.4
117.6
114.1
122.1
119.0
109.9
99.4
103.9
103.4
121.1
116.8
117.4
122.5
120.9
112.8
101.3
104.9
107.1
125.1
124.5
121.7
120. 3
125.3
114.1
103.6
108.3
113.5
129.9
128.1
125. 3
123. 8
128.3
113.5
106.7
109.9
116.5
132.9
130.8
128.5
119.6
131.3
112.8
109.1
112.9
117.1
137.3
135. 8
130. 1
96.0
130.2
114.3
110.5
115.6
120.0
141.7
138.1
132.7
116.0
135.4
121.5
111.8
117.1
120.9
143. 7
138. 4
134.1
115.0
136.9
125.7
114.3
'117.1
r
122. 4
' 144. 8
139.4
134.2
117.3
135.9
126.7
116. 3
317.9
121.7
50.2
95.5
79.3
61.0
52.8
50.4
89.8
72.5
61.3
47.2
50.8
90.1
72.2
60.7
45.4
50.3
90.2
72.5
60.5
41.7
50.6
90.6
73.4
60.5
42.4
50.2
91.1
74.3
60.2
44.2
48.7
23.5
77.2
60.1
48.2
48.6
87.9
77.1
60.4
51.0
49.2
88.1
78.9
61.5
51.9
49.3
90.3
79.0
62.1
52.7
50.0
92.6
79.9
62.2
53.9
50.0
94.2
'79.4
'61.8
' 54.2
50. 3
95. 0
79.4
61.3
53.8
93. 5
70.4
90.0
91.8
68.7
79.2
91.3
68.4
79.7
90.5
68.3
80.4
90.1
68.0
80.9
90.3
68.2
81.8
91.3
68.3
83.2
92.2
68.9
84.6
93.5
69.1
86.3
94.6
69.5
88.3
95.2
69.7
89.6
r
94. 9
'70.3
'90.3
93.9
70.1
90.6
117.2
109.0
96.3
106.0
99.7
92.3
103.3
100.3
92.6
101.0
101.4
92.9
101.4
101.1
104.4
102.5
94.2
117.2
104.9
95.2
120.6
108.3
96.3
122.7
112.0
95.0
121.7
115.8
94.5
118.9
114.6
94.5
' 121.5
'113.0
'95.7
121.0
110.9
95. 6
102.9
124.5
96.6
96.3
111.4
91.8
108.1
152.2
92.5
90.5
94.0
91.2
90.7
92.9
91.4
92.5
96.6
91.8
97.8
108.7
92.4
96.1
102.5
92.2
97.8
105.1
93.8
96.7
100.9
94.2
96.9
103.0
95.8
' 100. 0
'111.7
'95.6
100.9
115.6
96.6
134.6
116.0
121.1
116.8
111.3
289, 232 220,769 199, 628 184, 042 193, 898
74, 280 55,455 47, 693 92, 363
121,545
128,499 108,229 106, 420 99, 503 101, 535
139.8
235,876
87, 038
110,912
150.8
163.0
285, 397 318,436
127, 634 142,185
118, 945 134,896
166.5
331,438
152,691
136, 651
167.7
340,146
158,744
138,631
126.4
164.7
163.7
320, 301 300, 381
149, 800 135, 622
128, 415 124, 523
1,114,068 1,184,344 1,153,43] 1,173,152 1,202,348 1,251,283 1,306,333 1,370,110 1,391,689 1,444,985 1,487,925 1,512,428
152, 538 155, 914 158, 610 161,862 167,081 172, 876 177, 328 184, 236 185,182 186, 931 191, 588 195,011
1,039
1,051
1,104
1,048
1,065
1,074
1,148
1,179
1, 211
1,231
1, 235
1, 243
57.6
57.0
58.4
57.4
67.3
63.0
58.8
60.5
64.7
66.5
67.6
68.2
67.8
59.9
58.0
59.4
58.8
60.5
61.0
62.3
66.8
63.3
64.8
66.0
66.3
66.5
LABOR CONDITIONS
Average weekly hours per worker in factories:
Natl. Ind. Con. Bd. (25 industries)...hours..
41.0
40.1
39.6
40.2
40.7
41.2
41.3
41.7
41.2
41.0
41.7
41.6
U. S. Dept. of Labor (90 industries)...do
40.0
39.8
38.6
39.0
40.4
40.0
40.8
41.3
41.0
40.3
41.1
40.9
Industrial disputes (strikes and lockouts):
Beginning in month
number..
147
207
253
232
338
'395
••450
'340
'413
'430
'421
M50
In progress during month
do
277
"•377
341
373
••646
'485
'577
' 593
' 636
»710
'609
-544
Workers involved in strikes:
62
Beginning in month
thousands..
43
70
*>235
116
92
511
325
'141
'208
'280
' 140
In progress during month
do
62
102
125
P350
110
177
'565
'421
'223
' 239
'293
•p 3 6 5
'335
Man-days idle during month
do
1, 450
458
740
••659 r 1,130 ' 1, 554 ' 7,106 ' 2,183
1,469 ' 1, 307 '1,757
' 1, 874 1 1.960
Employment security operations (Soc. Sec. Bd.):
Placement activities:
Applications:
Active
file
.thousands.. p 4, 231
4,759
4.568
5,093
5,101
5,170
5,097
5,156
5,126
4,982
4,699
4,356 ' 4. 229
New and renewed
do
1,495
1,373
p 1, 326
1, 816
1,606
1,825
1,539
1, 623
1, 597
1,446
1,396
1,488
1,333
Placements, total
do
344
378
363
376
443
M06
500
471
499
510
539
546
Unemployment compensation activities:
365
Continued claims
thousands..
4,047
4,008
4,931
3,738
4,270
3,914
3,576
3, 623
3,045
' 2, 650 ' 2, 548
Benefit payments:
3,622
Individuals receiving payments§
do
667
826
806
470
762
590
659
684
611
572
430
493
u/u
uu/
Amount of payments
thous. ofdoL. 21, 066
39, 270
34,611
33,608
26, 998
31, 574 30, 564 29. 307
26. 494
22, 942 21, 430
676 I 30,886
29,561
r
Revised.
v Preliminary.
§Data are a weekly average of the number receiving benefits, based on an average of the weeks of unemployment compensated during weeks ended within the month.
other
which were suDsequentiy revised as snown m taDie 27, p. 17 of the May 1940 issue. For revisions in Illinois and Chicago indexes, see note marked with a " t " on p.
the January 1943 Survey. Index for Wisconsin revised beginning 1925: revised data not shown on p. 72 of the February 1941 Survey will appear in an early issue. Earlier
monthly data nn indexes beginning 1923 for Ohio factory and construction employment revised to 1935-39 base will be shown in a subsequent issue.
{Total includes State engineering, supervisory, and administrative employees not shown separately; see note on p. 27 of the May 1941 Survey.
S-10
SURVEY OF CURRENT BUSINESS
Monthly statistics through December 1939, to- 1941
1940
gether with explanatory notes and references
to the sources of the data, may be found in the Novem- Novem- Decem1940 Supplement to the Survey
ber
ber
ber
January 1942
1941
January
February
March
April
June
May
July
August
September
October
EMPLOYMENT CONDITIONS AND WAGES—Continued
LABOR CONDITIONS-Continued
Labor turn-over in mfg. establishments:
Accession rate_.mo. rate per 100 employees.
Separation rate, total
do.
Discharges
do.
Lay-offs
do.
Quits and miscellaneous
do
4.65
3.06
.18
1.60
1.28
4.11
3.16
.16
1.86
1.14
5.54
3.41
.18
1.61
1.62
4.92
3.15
.19
1.20
1.76
5.62
3.40
.21
1.06
2.13
6.04
3. 89
.25
1.19
2.45
5.95
3.86
.24
1.08
2.54
6.31
3.71
.26
1.03
2.42
6.00
4.24
.29
1.40
2.55
5.43
4.14
.30
1.13
2.71
5.16
4.53
.31
1.16
3.06
122.4
131.6
120.7
132.0
126.8
139.2
131.2
144.6
134.7
149.9
144.1
163.1
152.2
173.9
152.7
' 172. 2
' 158.1
' 177. 6
'162.6
' 183. 2
132.9
130.8
137.0
141.2
150.9
160.9
168.6
166.6
' 172.0
' 170. 5
142.1
128.4
139.9
130.4
145.4
134.8
149.0
138.1
If 4.1
135.7
172.7
141.5
179.9
150.2
181.6
'123.8
183.3
145.7
' 178.4
' 148. 7
' 181.0
' 151.5
86.0
113.1
71.5
92.6
60.4
163.0
89.4
114.8
68.1
84.2
59.2
167.5
93.8
115.7
70.6
90.0
60.5
176.8
97.1
121.8
72.8
93.9
62.7
186. 2
1C3.4
127.3
75. 7
95.2
66.4
197.4
113.8
146.4
78.0
102.7
66.0
217.2
120.1
163.2
83.9
110.0
71.1
229.9
112.5
171.3
85.5
110.1
73.5
233.0
124.9
184.7
' 92.3
116.1
80.3
243.4
'123.2
187.6
'£0.8
' 118.0
' 77.5
' 248. 2
'126.9
' 156.6
'92.3
' 120.4
'78.3
' 255. 6
171.3
180.9
174.2
162.0
229.6
229.0
233.3
228.4
227.5
230.7
' 231.6
157.9
162.7
175.7
185.9
192.3
215.3
224.0
232.0
240.0
241.4
'244.9
304.8
331.6
347.0
378.6
372.4
444.1
484.7
506.9
545.1
' 571.8
' 614. 3
126.6
394.2
163.6
149.6
218.9
85.7
56.8
137.6
169. 2
5,356.3
145.0
287.7
112.1
128.7
414.5
144.9
146.0
220.2
79.6
54.6
131.0
176.2
5,919.7
147.7
307.6
108.1
136.1
444.7
146.4
151.2
224.5
82.0
54.8
135.3
190.8
6,440.6
159. 3
338.1
112.9
143.6
471.5
157.2
155.1
236.7
85.2
£6.1
140.5
197.2
6,678.3
163.1
365.0
116.3
152.2
472.2
163.9
157.2
234.8
91.1
62.4
143.5
' 191.6
7,134.4
147.3
395.4
117,7
166.2
507.2
191.5
166.7
246.6
97.8
69.1
150.3
'217.0
7,697.3
170.6
433.9
122, 9
143. 9
187.9
138.7
139.0
334.4
132.4
137.7
137.3
78.5
73.2
120.8
128.5
111.1
96.4
97.6
95.6
95.6
67.4
142.1
188.2
137. 4
132. 2
335.9
120.2
134.5
119.7
83.3
80.1
115.4
127.5
111.6
97.9
95.1
93.1
93.2
59.3
144.8
193.9
141.7
132.1
327.6
119.6
137.8
113.5
91.5
88.9
117.1
132.5
115.3
99.7
103.9
98.5
108.1
61.7
149.1
201.7
147.4
133.4
332.9
122.4
140.0
114.2
96.1
94.2
120.3
136.4
119.5
102.7
107.0
101.1
112.2
62.7
158.3
208.3
157.9
142.4
342.3
125.2
140.9
115.1
92.3
89.1
121.2
139.1
122.3
106.3
107.0
104.1
106.2
58.9
164.9
221.8
170.4
146.3
356. 2
134.7
148.4
133.1
91.0
86.7
124.9
145.6
128.7
111.1
110.4
109.3
105.9
67.1
172.4
' 232. 7
177.8
156.7
362.4
144.4
154.4
137.8
97.2
91.9
128.6
157.7
141.1
122.4
111.4
111.6
104.1
70.2
176,3
239.7
172. 7
157.2
368.6
152.8
153.1
139.4
103.2
98.8
128.6
156.9
135.6
118.4
113.6
113.3
107.1
69.8
' 179, 8
' 247.2
171.5
159.1
368.2
' 165.5
155.2
142.9
104.7
100.7
130.9
162.7
138.8
116.4
119.3
' 114.4
121.7
70.0
' 186. 7
' 250.1
169.9
166.4
374. 3
' 170.1
157.4
146.1
101. 6
95.3
133.3
163.0
134.2
107.3
123.4
118.0
' 126. 4
70.4
190. 7
249 4
173. 7
168.0
386. 4
162. 9
157.6
151.0
100.5
'93.3
' 135. 9
'165.2
' 138.3
'112.3
122.3
' 120. 1
' 119.2
' 75.6
116 9
137.3
150. 2
91.2
134.8
108.2
142.8
- 102.3
128.0
112.9
134.8
151.6
89.6
133.2
108.2
142.9
99.4
126.1
125.1
138.3
155.1
97.0
139.1
113.6
152. 7
104.7
129.5
128.1
140.8
161.2
101.0
145.6
119.2
159.8
109.0
134.8
137.3
151. 6
174.4
104.0
147.5
122.6
167. 0
114.5
142.5
150.1
161.6
189.2
110.2
161.1
129.0
176.6
121.7
150.9
156.0
170.5
196. 2
114.5
169.0
134.2
186.3
' 127. 2
159.5
159.9
170.2
202.5
117.2
173.7
137.5
188.3
126.3
154.6
169.5
178.7
207.9
116.9
172.1
146.4
190.4
' 131.1
163.8
173.7
180.5
215.8
121.3
176.4
152.6
' 190. 9
' 131.1
164.6
' 169. 5
183. 7
' 224.5
120.7
151.9
136.9
131.3
101.3
106.3
113.1
105.8
153.7
135.1
132.6
103.3
103.6
109.7
102.5
157.9
135.1
139.5
109.7
110.5
114.5
113.6
164.2
135.1
144.5
115.2
114.0
118.7
115.9
178.4
148.7
151.7
115.9
114.7
131.6
124.1
194.5
158.2
157.8
118.0
' 126.4
138.4
134.9
200.6
166.1
163.9
119.1
134.0
143.9
138.8
207.4
168.9
159. 3
123.3
136.8
140.5
141.3
212.8
174.8
169.7
134.3
139.1
146.3
146.0
220.9
177.8
168.2
142.4
' 144. 0
' 143.6
' 145.9
r 229. 6
180.3
175. 0
135. 4
149. 3
150.0
147.7
42.7
91.4
72.8
55.9
42.4
38.5
87.8
70.4
56.2
36.9
45.2
90.8
71.8
57.3
38.2
42.4
93.8
72.7
56.1
40.3
24.3
15.8
78.9
57.8
47.0
33.4
107.2
81.5
58.8
53.2
51.2
107.2
85.3
59.9
55.7
34.8
105. 4
79.3
61.4
55.5
51.1
117.3
85.4
61.5
59.3
49.6
' 115.5
85. 9
'64.4
60.6
49.2
122.6
88.4
63.0
60.8
106.0
73.1
103.5
105.1
70.7
103.9
105.4
71.0
104.3
106.1
72.5
106.4
107.6
72.0
107.1
109.6
72.7
110.5
111.4
76.2
111.4
113. 5
75.8
113.5
115.1
78.6
' 116.4
'115.0
78.1
' 117.3
116. 0
78.1
117.6
4.87
4.13
.28
1.41
2.44
PAY ROLLS
Manufacturing, unadjusted (U. S. Department
of Lahor) +
1923-25= 100_
1(55. 5
116.4
125.1
ISO. 9
Durable goods!—.
do_._
Iron aii(i stcol and their products, not including machinery
1923-25 = 100.
125.8
Blast furnaces, steel works, and rolling
181.1
mill?
1923-25=100134.6
Hardware
do...
122.3
149.8
Structural and ornamental metal work
115.8
1923-25=10078.7
178.5
Tin cans and other tinware
do...
104.1
Lumber and allied products
do_._
70.9
86. 3
Furniture
do__.
90.4
118.2
Lumber, sawmills
do_._
60.9
70.5
Machinery, excl. trarsp. equip
do___
149.3
254.6
Agricultural implements (including tractors)
1923-25= 100_
220. 9
160.4
Electrical machinery, apparatus, and
supplies
1923-25=100.
145.0
Engines, turbines, water wheels, and
windmills
1923-25=100653. 5
274.8
Foundry and machine-shop products
1923-25=100.
192.0
114.6
Machine tools*
do
594.6
355.4
Radios and phonographs
do
267.4
155. 7
Metals, nonferrous, and products
do
179. 1
141.7
252. 3
Brass, bronze, and copper products, do
201.9
106. 1
Stone, clay, and glass products
do
'82.1
72.9
Brick, tile, and terra cotta
-do
54.0
169. 5
Glass
do
130.8
294. 2
Transportation equipmentf
do.. _
' 166.0
Aircraft*
d o . . . 13,151.7 5,012.9
185. 5
Automobiles
do...
150.5
820. 6
Shipbuilding*...
do...
237.8
137. 1
Nondurable goods!
.
do
106.6
Chemical, petroleum, and coal products
1923-25 = 100193. 4
139.4
Chemicals
„.
do
265. 2
181.7
Paints and varnishes
,
.
do...
170.0
135. 7
Petroleum refining
do...
166.1
133.3
Rayon and allied products
do
384. 8
331.4
Food and kindred products
.
do
156. 5
128.8
Baking
do
159.6
138.3
Slaughtering and meat packing
do
152. 5
118.9
97. 3
68.5
Leather and its manufactures
do
88. 6
62.5
Boots and shoes
do
137.7
115.4
Paper and printing
do
166.7
123.8
Paper and pulp
do
140.9
102.0
Rubber products
do
117.6
89.7
Rubber tires and inner tubes
do
118.3
' 92. 2
Textiles and their products!
do
119.1
Fabrics!
do
'90.8
109. 6
'89.4
Wearing apparel
do
77.1
66.4
Tobacco manufactures
do
Manufacturing, unadj., by States and cities:
State:
171.5
105.3
Delaware
1923-25=100..
181.7
129.4
Illinois!
1935-39 = 100..
221. 4
• 145.0
Maryland
1929-31=100.119.5
83.
Massachusetts
1925-27=100..
124.9
New Jersey
1923-25=100
151.0
101.5
New York
1925-27 = 100.
135. 1
Ohio*
1935-39=100..
r 96.5
Pennsylvania
1923-25=100__
122.1
Wisconsin!
1925-27=100. _ 170.5
City or industrial area:
226.9
147.0
Baltimore
1929-31 = 100
179.9
128.5
Chicago!
1935-39=100..
173.8
126.6
Milwaukee
__ 1925-27 = 100
133. 6
97.6
New York
do
151.6
100.1
Philadelphia
1923-25=100,149.8
105.4
Pittsburgh
do
153. 7
Wilmington
do
94.9
Nonmfg.,1 unadj. (U. S. Dept. of Labor):
Mining :
Anthracite
1929=100.41.8
37.6
Bituminous coal
do
116.5
84.5
Metalliferous
do
90.3
69.8
62.5
Crude petroleum producing-.
._do
56.8
57. 5
Quarrying and nonmetallic
do
42.3
Public utilities:
Electric light and power!
do
106. 9
114.5
Street railways and buses!
do
70.3
78.6
Telephone and telegraph!
do
103.2
116.0
r
r
r
T
r
166.6
' 191.1
176.5
177.8
187.8
' 194. 7
186.0
529. 3
534.7
553.4
' 578. 2 ' 593.8
200.4
218.7
254.4
'261.8
234.0
174.6
M73.7
' 185. 8 ' 185.1
' 182.6
263.8
262. 2
' 270. 8 ' 264.7
273. 6
98.9
100.2
' 105. 4 ' 109.3
104.2
'75.7
71.8
73.4
76.2
77.0
147.1
153.5
' 160. 5 ' 173.7
155.4
' 228. 8
' 252. 1 '281.4
' 240. 0
' 224.4
8,193. 5 ' 9,045.7 '10.3C3.0 '11,145.8 12,301.6
'176.4
158.0
188.3
' 159.1
139.2
' 797. 7
505.9
582.0
7U0.1
614.6
' 130. 7
139. 5 ' 139. 2
127.9
136,3
'
'
'
'
'
'
'
151.6
195. 1
135.8
r 173.2
Revised.
tRevised series. For revisions in indexes for all manufacturing, durable goods, and nondurable goods, for 1938 and 1939, see tablel2. p. 18 of the March 1941 Survey. Index
for transportation equipment revised beginning January 1939, see table 57, p. 17 of the December 1940 Survey. Slierht revisions were made in data for textiles and their products
and fahrics beginning 1933; revisions not shown on p. 27 of the May 1940 Survey are available upon request. For revisions in Illinois and Chicago indexes, see note marked with
a " ! " on p. 29 of the January 1941 Survey. Index for Wisconsin revised beginning 1925; revised data not shown on p. 74 of the February 1941 Survey will appear in an early
issue. Telephone and telegraph pay-roll indexes revised beginning 1932, other indicated nonmanufacturing pay-roll indexes revised beginning 1929- see table 19, p 17 of the
April 1940 Survey.
*New series. Earlier data on Ohio pay rolls will be shown in a subsequent issue; for other indicated pay-roll series, see note marked with an "*" on p S-8 of this issue.
S-ll
SURVEY OF CURRENT BUSINESS
January 1942
Monthly statistics through December 1939, to- 1 9 4 1
1940
gether with explanatory notes and references
to the sources of the data, may be found in the Novem- Novem- December
ber
ber
1940 Supplement to the Survey
1941
January
February
March
April
May
June
July
August
September
October
EMPLOYMENT CONDITIONS AND WAGES—Continued
PAY ROLLS—Continued
Nonmfg., unadj. (U. S. Dept. of Labor)—Con.
Services:
Dyeing and cleaning
1929=100. _
Laundries
do
Year-round hotels
do
Trade:
Retail, totalf
do
General merchandising!
do
Wholesale
__
do
92.8
101.9
93.8
87.2
83.6
75.8
89.2
84.1
73.3
89.8
84.1
74.4
89.7
86.1
77.2
90.9
85.7
97.8
95.8
87.1
96.1
98.7
87.9
98.4
102.5
87.4
96.4
106.7
87.6
92.1
104.7
88.2
' 99. 5
105.2
' 90. 0
98.4
103.2
92. 0
98.1
116.8
92.2
87.1
97.5
80.7
97.3
132.9
83.4
83.7
86.5
80.5
84.6
86.6
81.4
86.2
88.3
82.0
91.7
98.6
83.4
91.5
96.0
84.6
95.2
100.1
88.2
94.0
97.5
88.0
94.0
99.3
89.8
95. 8
' 106. 6
'• 90. 9
97.5
110.3
92.0
29.73
26.93
31.11
30.28
27.89
31.96
30.61
27.71
31.90
31.41
28.56
32.90
31.80
29.11
33.49
31. 89
29.17
33.54
33.12
30.78
35.57
34. 26
31.88
36.91
33.70
31.22
35.84
34.10
'31.66
' 36. 55
35.10
' 32. 05
36.79
35. 63
32.89
37. 97
31.01
32.18
31.46
32.21
32.65
34.40
35.71
36.40
35.53
' 36. 07
' 35. 60
36.36
33.43
27.56
34.65
28.03
33.66
28.30
34.51
28.84
34. 94
28.95
37.87
28.64
38.98
29.89
39.46
31.26
38.90
' 29. 20
38.81
'31.42
r 37. 81
' 31. 35
38. (J5
32.29
29.26
23.47
20.75
22.23
19.06
31.65
30. 80
25.72
21.06
22.64
19.29
33.13
31.01
25.31
20.72
21.42
19.59
33.35
31.67
24.98
21.24
22.32
21.02
32.35
25.53
21.68
23.03
20.32
35.02
33.71
26.17
22.16
23.22
19.89
35.20
36.13
27.27
22. hi
24.35
20.74
37.17
36.98
27.70
23.57
25.12
21.89
38.00
34.04
27. 59
23.21
24.68
21.60
37.53
36.82
28.42
' 24. 68
' 25. 49
23.49
38.19
' 36. 57
28.92
24.47
' 26. 03
' 22. 72
' 38. 48
37.90
26. 95
25.12
26. 55
23. 25
39. 29
WAGES
Factory average weekly earnings:
Natl. Ind. Con. Bd. (25 industries), .dollars..
U. S. Dept. of Labor (90 industries)
do
Durable goods
do
Iron and steel and their products, not including machinery
dollars..
Blast furnaces, steel works, and rolling
mills..
dollars..
Hardware
do
Structural and ornamental metal work
dollars..
Tin cans and other tinware
do
Lumber and allied products
do
Furniture
do
Lumber, sawmills
do
Machinery, excl. transp. equip
do
Agricultural implements (including
tractors) t
dollars..
Electrical machinery, apparatus, and
supplies
dollars. „
Engines, turbines, water wheels, and
windmills J
dollars..
Foundry and machine-shop products
dollars.Machine tools*
do
Radios and phonographs
do
Metals, nonferrous, and products.,do
Brass, bronze, and copper prod...do
Stone, clay, and glass products
do
Brick, tile, and terra cottaj
do
Glass
do
Transportation equipment
do
Aircraft*
do
Automobiles
do
Shipbuilding*^
do
Nondurable goods
do
Chemical, petroleum, and coal products
dollars. .
Chemicals
do
Paints and varnishes
do
Petroleum refining
do
Rayon and allied products
do
Food and kindred products
do
Baking
do
Slaughtering and meat packing..do
Leather and its manufacturest
do
Boots and shoest
do
Paper and printing
do
Paper and pulp
do
Rubber products
do
Rubber tires and inner tubes
do
Textiles and their products
do
F abr ics
do
Wearing apparel
do
Tobacco manufactures
do
Factory average hourly earnings:
Natl. Ind. Con. Bd. (25 industries)
do
U. S. Dept. of Labor (90 industries)
do
Durable goods
do
Iron and steel and their products, not
including machinery
dollars..
Blast furnaces, steel works, and rolling
mills
dollars-.
Hardware
do
Structural and ornamental metal work
do.....
Tin cans and other tinwaret
do
Lumber and allied products
do
Furniture
.do
Lumber, sawmills
do
Machinery, excl. transp. equip
do
Agricultural implements (including
tractors) $
dollars - .
Electrical machinery, apparatus, and
supplies}:
dollars..
Engines, turbines, water wheels, and
windmills t
dollars- _
Foundry and machine-shop products
dollars -.
Machine tools*
do
Radios and phonographs
do
Metals, nonferrous, and products..do
Brass, bronze, and copper products
dollars. .
31.29
32.89
33.25
33.13
33.54
37.52
36.88
37.32
36.62
36.31
37.12
37.46
31.61
32.95
33.00
33.87
34.46
34. 41
36.68
37.01
37.06
37.44
37.28
37.82
36.35
38.22
39.36
38.73
40.43
38.30
43.39
45.03
45.14
46.02
' 46. 62
47.81
30.95
36.85
23.97
30.02
34.17
25.17
21.47
27.26
36.39
32 93
38!05
34.46
22.08
32.85
39.56
25.32
31.63
35.80
26.25
22.52
28.77
35.96
33.17
36.49
38.37
23.09
32.51
40.15
24.08
30.71
35.22
25.17
21.74
28.02
37.66
34.13
37.61
37.69
22.64
33.51
41. 62
24.80
31.00
35.20
25.61
22.09
28.62
38.44
35.14
40.05
38.71
23.23
34.39
41.49
25.79
31.57
36.45
25.89
22.30
28.76
38.80
35.02
40.61
39.30
23.63
34.75
41.10
25.31
31.50
35.70
26.50
23.38
28.70
36.41
35.15
36.36
39.16
23.62
36.51
42.79
27.02
33.12
37.10
27.64
24.58
29.53
39.90
35.84
41.56
40.89
24.48
37.78
43.22
27.09
34.30
38.42
28.04
24.97
29.91
42.69
35.63
45.68
43.78
25.11
36.61
42.80
28.30
33.78
38.37
27.02
24.59
28.19
40.51
' 36. 57
40.79
45.54
25.07
37.72
43.53
28.32
34.88
39.17
27.98
25. 30
29.28
41.23
' 38. 08
M l . 09
46.47
25.38
37. 77
44.77
29. 25
' 35. 24
' 38. 65
r 28. 27
25.27
' 30.19
M l . 65
' 38. 19
M l . 73
46.69
' 25.78
38. 84
45.47
29. 36
34. 89
38. 05
29.41
25. 76
32.14
43. 61
39.21
44.32
47.54
26.10
29.87
32.72
29.35
34.32
26.95
24.43
26.31
26.82
18.19
16.65
29.35
26.35
29.45
34.92
17.80
17.71
18.05
18.14
30.90
33.33
30.15
36.00
27.15
25.78
26.39
28.77
20.05
18.54
30.37
27.30
31.13
36.59
18.46
18.28
18.98
18.70
30.31
33.10
29.86
34.46
27.40
24.89
26.46
26.84
20.67
19.58
29.75
27.02
30.85
36.67
18.13
17.93
18.70
17.76
30.24
33.50
30.22
34.36
26.94
25.25
26.73
26.70
21.89
20.92
30.04
27.66
31.20
37.02
19.08
18.61
20.35
17.54
30.36
33.93
30.46
34.68
27.28
25.74
26.66
26.81
22.61
21.77
30.67
28.19
31.67
37.55
19.37
18.89
20.68
17.99
30.96
34.24
31.57
36.64
27.54
25.56
26.59
27.14
21.87
20.84
30.54
28.31
31.62
37.68
19.48
19.33
19.91
16.88
32.41
35.48
33.05
37.14
28.16
26.68
27.56
29.55
22.09
20.89
31.13
29.07
32.82
38.88
20.13
20.09
20.22
18.82
33.63
' 36.04
33.81
38.74
28.36
27.08
28.21
29.79
22.99
21.66
32.01
30.97
34.70
41.41
20.33
20.28
20.48
19.48
33.74
36.38
32.63
38.26
29.06
26.36
28.26
29.43
23.68
22.53
31.70
30.49
33.18
39.54
20.55
20.43
20.90
19.45
33.78
' 36. 57
32.65
38.57
28.60
' 26. 33
28.06
30.31
23.97
22.90
32.04
31.18
33.78
39.17
'21.04
20.63
22.18
19.37
' 34. 15
' 36. 57
32.56
40.14
29.29
' 26. 56
28. 32
r 30. 63
23. 71
22.35
' 32. 34
'31.17
' 32. 66
' 36.19
21.73
'21.38
' 22. 70
' 20. 00
34. 56
36.34
33.27
40.40
30.42
27.14
28.18
31. 20
23. 60
22. 07
32. 7J
31.73
33.56
38. 03
21. 94
21.81
22. 30
20.36
.747
.678
.744
.754
.683
.749
.759
.689
.758
.764
.692
.762
.769
.697
.784
.708
.785
.799
.726
.818
.738
.822
.822
.744
.826
.828
.745
.830
' . 845
. 758
.843
.853
.770
.853
.791
.781
.780
.786
.857
.858
.681
.861
.695
.732
.635
.526
.555
.505
.752
.743
.638
.528
.552
.507
.761
.743
.639
.529
.552
.510
.768
.795
.841
.863
.862
.871
' . 875
.877
.873
.954
.967
.707
.964
.737
.965
'.710
.968
'. 736
' .971
'.744
. 969
.749
.750
.638
.534
.560
.517
.772
.756
.639
.541
.565
.523
.778
.782
.642
.547
.570
.530
.789
.825
.652
.556
.584
.537
.818
.836
.660
.570
.597
.552
.832
.826
.664
.577
.601
. 560
.836
.835
.669
.588
'.608
.573
.844
' .846
. 683
.590
'.617
.572
.850
.852
.643
.598
. 624
.578
.861
.820
.886
.890
.907
.920
.829
.842
.850
.853
.967
.978
.997
'• 1.005
1.021)
.806
.818
.821
.818
.757
.766
.773
.776
.872
.842
.842
.869
.857
.878
.887
.745
.768
.613
.727
.755
.781
.626
.738
.757
.797
.632
.740
.762
.801
.640
.740
.769
.799
.643
.748
.780
.806
.644
.749
.803
.822
.661
.770
.819
.831
.664
.794
.818
.841
.693
.803
.826
.850
.687
.808
.829
.870
. 697
.821
. 843
.874
. 703
.822
.802
.808
.806
.811
.822
.816
.834
.861
.876
.887
.887
.887
.782
.857
' Revised.
tBecause of changes in the composition of the reporting sample (usually an enlargement of sample) data for the indicated series for a recent period are not strictly comparable with earlier data; for the month when the change occurred and t h e issue of the Survey in which t h e revised data were first published, see note marked " t " on p . 29
of t h e July 1941 Survey and p . S-ll of the August 1941 issue.
*New series. Earlier monthly data not shown on p . 29 of the March 1941 Survey are available upon request.
t Revised series. Indexes revised beginning 1929; see table 19, p . 17 of the April 1940 Survey.
S-12
SURVEY OF CURRENT BUSINESS
1940
Monthly statistics through December 1939, to- 1 9 4 1
gether with explanatory notes and references
to the sources of the data, may be found in the Novem- Novem- December
ber
ber
1940 Supplement to the Survey
January 1942
1941
January
February
March
April
June
May
Sep- October
August tember
July
EMPLOYMENT CONDITIONS AND WAGES—Continued
WAGES—Continued
Factory average hourly earnings—Continued.
U. S. Department of Labor—Continued.
Durable goods—Continued.
Stone, clay, and glass products-.-dollars-Brick, tile, and terra cottaj
do
Glass
do
Transportation equipment
do
Aircraft*
..
do
Automobiles
do
Shipbuilding*^ .
do
Nondurable goods.....
_do.. Chemical, petroleum, and coal products
dollars
Chemicals!
do
Paints and varnishes
do
Petroleum refining _. __. . .
do. .
Rayon and allied products
do
Food and kindred products
do
Baking
do
Slaughtering and meat packing do
Leather and its manufacturesX
do
Boots and shoest
do
Paper and printingdo
Paper and puJp
do
Rubber products
do
Rubber tires and inner tubes
do
Textiles and their products
do
Fabrics
do
Wearing apparel J
do
Tobacco manufactures
do
Factory average weekly earnings, by States:
Delaware
. 1923-25=100-Illinoist
1935-39 = 100.- ~~~I3O.~3"
Massachusetts
1925-27 = 100..
125. 0
New Jersey
1923-25=100
119.4
New York
1925-27 = 100..
Pennsylvania
1923-25=100-134."8
Wisconsinf . .
1925-27=100
Miscellaneous wage data;
Construction wage rates (E. N. R.):?
Common labor
dol. per hour..
Skilled labor
do
Farm wages without board (quarterly)
dol per month
Railway wages (avg., class I)..dol. per hour._
Road-building wages, common labor:
United States, average.
.
. do
East North Central
do
East South Central _
do
Middle Atlantic
do
Mountain
do
New England
do.
Pacific
do
South Atlantic-.. ._.
do
West North Central
do
West South Central.
do
PUBLIC ASSISTANCE
T o t a l public assistance a n d earnings of persons
employed u n d e r Federal work p r o g r a m s !
rnil of dol
Assistance to recipients:!
Special types of public assistance
do
Old-age assistance*
do
General relief
do
Subsistence p a y m e n t s certified b y the F a r m
Security Administration
mil. of d o l . .
Earnings of persons employed u n d e r Federal
work programs:
Civilian Conservation C o r p s . , mil. of dol
National Y o u t h Administration:
S t u d e n t work program
do
Out-of-school work program
do
W o r k Projects Administration
do
Other Federal agency projects
financed
from emergency fundst
m i l of dol
E a r n i n g s on regular Federal
construction
projects*..
.. ,
mil of dol
.768
1.52
_
0.671
.572
.746
.902
.755
.957
.884
.613
0.680
.582
.764
.900
.756
.954
.895
.617
0.682
.587
.772
.911
.776
.969
.893
.620
0.685
.589
.774
.918
.784
.975
.900
.621
0.689
.594
.778
.920
.783
.982
.890
.624
0.695
.606
.770
.923
.788
.983
.907
.629
0.710
.638
.769
.945
.794
1.014
.929
.641
.765
.811
.733
.966
.690
.632
.640
.686
.555
.529
.793
.656
.781
.971
.504
.487
.539
.486
.766
.816
.741
.968
.694
.641
.644
.680
.552
.526
.799
.660
.784
.971
.507
.488
.544
.490
.770
.822
.741
.970
.699
.649
.644
.681
.555
.530
.802
.662
.788
.975
.512
.492
.557
.498
.770
.826
.746
.970
.702
.651
.644
.685
.564
.540
.803
.661
.792
.981
.514
.492
.561
.495
.766
.829
.749
.967
.700
.655
.641
.685
.572
.549
.807
.664
.799
.994
.517
.494
.561
.497
.773
.839
.755
.995
.706
.655
.647
.694
.579
.555
.805
.666
.804
.995
.524
.509
.553
.506
.806
.863
.770
1.008
.712
.670
.659
.731
.590
.567
.811
.676
.816
1.008
.530
.520
.550
.509
97.1
112.4
102.7
127.6
100.4
115.5
116.0
104.0
116.8
108.8
134.9
104.4
120. 9
119.0
98.1
115.6
107.6
133.8
104.5
117.5
117.6
107. 9
117.5
111.7
136.1
106. 0
121.4
121.1
106.2
119.2
113.5
138.5
108.2
124.3
123.3
107.2
121.0
114.4
137.5
109.4
127.7
122.6
.711
1.48
.711
1.48
.711
1.47
.713
1.47
.716
1.47
.741
.746
36.61
.741
.758
.48
63
.34
.56
.54
.56
.72
.35
.49
.37
.44
.63
.33
.58
.53
.58
.71
.34
.48
.38
.43
.68
.35
.59
.51
.55
.70
.34
.47
.38
209
218
55
41
29
56
42
30
1
0.717
.642
.780
.976
.797
1.063
.954
.650
0.721
.645
.782
.988
'.812
1.066
1.013
.657
0.721
.648
.782
r
.988
'.845
T
1. 055
1.039
.658
0.736
.653
r
. 812
» 1.003
r.845
' 1.080
1.040
.668
0.744
.656
836
[ 1.019
\ .869
1.093
1.054
.680
.824
.866
.780
1.020
.722
.672
.665
.738
.599
.573
.826
.716
.836
1.037
.534
.522
.559
.517
.838
.886
.781
1.030
.729
'.662
.674
.737
.609
.584
.825
.727
.845
1.048
.550
.534
.582
.523
.837
r
885
' . 784
1.025
.728
. 658
67 9
766
.615
590
.824
725
861
1 062
554
. 533
596
520
.845
'.896
.789
1.083
.746
.657
.674
r. 780
.630
.601
.830
r
. 728
.859
1. 046
.569
.551
.602
.525
.850
.886
.809
1.096
112.1
125.1
119.8
146.6
113.3
132. 7
127.2
116.2
128.9
122.6
150.4
115.8
135.8
131.1
114.5
125.4
123.7
152.1
116.1
132.1
126.3
114.7
127.7
123.3
152. 1
119.2
136.3
131.4
113.6
129.2
127.5
153.6
120.7
' 134. 4
130.2
117.7
132.3
126.1
.725
1.48
.741
1.49
.747
1.49
.753
1.50
.753
1.50
.761
1.52
. 761
1.52
.742
40.44
.732
.730
.733
44.95
.727
.727
.733
45.47
.727
.43
.67
.33
.59
.53
.59
.72
.34
.48
.38
.43
.65
.34
.58
.52
.58
.70
.34
.47
.39
.45
.64
.34
.61
.54
.57
.72
.36
.45
.40
.48
.62
.34
.56
.57
.53
.73
.36
.49
.40
,49
.64
.36
.56
.60
.52
.73
.35
.51
.39
.50
.66
.35
.55
.60
.55
.73
.36
.51
.39
.50
.67
.36
.57
.59
.55
.76
.36
.50
.40
.49
.65
.37
.57
.62
.55
.79
.36
.50
.42
.49
.65
.37
.59
.63
.54
.8C
.3€
.52
.41
222
215
216
209
199
188
167
161
159
161
57
43
31
58
43
29
58
43
29
59
44
26
59
44
23
60
46
21
60
45
20
60
46
20
61
46
19
61
47
li
1
2
2
2
2
1
2
19
16
17
18
16
15
15
13
11
10
3
5
94
3
6
102
3
8
104
3
9
94
3
9
97
3
8
94
3
8
88
3
8
81
7
2
7
62
4
3
2
2
1
1
1
1
1
1
69
86
103
114
111
116
106
110
119
130
r
00
11
12
7
67
119.4
139. C
136.7
00
(•)
(a)
r
.'679
.675
.787
. 632
.602
.835
.731
.865
1.058
.581
.566
.610
.527
(°)
(a)
8
61
60
(a)
1
'137
v 15*
FINANCE
BANKING
Acceptances and com'l paper outstanding:
213
212
194
209
197
Bankers' acceptances, total
mil. of dol..
215
197
217
177
220
213
210
Held by accepting banks, total
do
144
167
168
164
170
170
164
161
161
148
131
159
100
103
99
99
Own bills
_ do . . .
93
107
105
100
105
106
101
85
Bills bought
do
51
60
67
65
65
63
66
60
47
55
46
59
42
45
Held by others*
do
38
48
50
46
50
47
51
49
49
52
232
241
387
232
218
263
295
354
371
Commercial paper outstanding.
do
275
299
330
#
' Revised.
• Less than $500,000.
None held by Federal Reserve banks.
Preliminary.
^Construction wage rates as of December 1, 1941: common labor, $0,769; skilled labor, $1.52.
§ Figures for special types of public assistance and general relief exclude the cost of hospitalization and burial. The cost of medical care is also excluded beginning September 1940; this item is included in all earlier data on general relief and in figures for July 1937-August 1940 on special types of assistance.
tRevised series. Indexes for Illinois revised to a 1935-39 base; for factors for converting indexes on a 1925-27 base beginning 1935, see p. 29 of the January 1941 Survey.
Revised indexes for Wisconsin beginning 1925 will be shown in an early issue. Total public assistance and "other Federal agency projects financed from emergency funds"
revised to exclude earnings on regular Federal construction projects and also on projects financed from Reconstruction Finance Corporation funds; revised data beginning
January 1933 will appear in a subsequent issue.
•New series. Earlier data for aircraft and shipbuilding not shown on p. 29 of the March 1941 Survey are available upon request. For data beginning 1933 for old-age
assistance, see table 56, p. 17 of the December 1940 Survey. Data on earnings on regular Federal construction projects beginning January 1933 will appear in a later issue.
{Because of changes in the composition of the reporting sample (usually an enlargement of sample) data for the indicated series for a recent period are not strictly comparable with earlier data; for the month when the change in the sample occurred and the issue of the Survey in which the revised data were first published, see note marked
with "X" on p. 29 of the July 1941 Survey and p, S-12 of the August 1941 issue.
January 1942
S-13
SURVEY OF CURRENT BUSINESS
Monthly statistics through December 1939, to- 1941
1940
gether with explanatory notes and references
to the sources of the data, may be found in the Novem- Novem- Decem1940 Supplement to the Survey
ber
ber
ber
1941
January
February
March
April
May
June
July
August SeptemOctob
ber
FINANCE—Continued
B A NKING—Continued
Agricultural loans outstanding of agencies supervised by the Farm Credit Adm.:
2,975
2,986
2,982
Total, excl. joint-stock land bks.t-mil of doL.
2,964
2,973
2,970
2,976
2,988
2.988
2, 954
2,924
2,906
2,986
2,426
2,437
Farm mortgage loans, total
do
2,500
2,485
2,475
2,467
2,448
2, 395
2, 508
2,489
2,458
2,411
2,380
1,804
Federal land banks
do
1.836
1,811
1,856
1,851
1,844
1,842
1,830
1,818
1,786
1,776
1,824
1, 795
622
Land Bank Commissioner
do
648
645
626
604
652
643
637
630
610
634
616
99
Loans to cooperatives, total
do
92
91
119
128
85
90
111
90
Banks for cooperatives, incl. central
83
74
bank
mil. of doL.
74
94
77
75
75
70
74
101
109
16
Agr. Mktg. Act revolving fund
do
16
16
17
17
16
16
16
16
16
16
16
16
450
382
393
413
453
410
Short term credit, totalt
do...
383
381
431
431
450
440
Federal intermediate credit banks, loans
to and discounts for:
Regional agricultural credit corps.,
prod, credit ass'ns, and banks for
192
229
187
227
cooperatives c?
mil. of dol._
188
186
212
220
203
217
225
225
219
34
44
45
Other financing institutions
do
34
35
36
39
38
37
40
42
43
39
221
Production credit associations
do
172
174
182
224
187
195
207
221
215
173
208
194
7
Regional agr. credit corporations..-do
6
6
6
6
6
7
7
6
6
7
7
128
118
117
119
Emergency crop loansf
do
118
129
129
119
125
130
130
125
121
49
50
50
50
48
50
50
Drought relief loans
do
51
50
50
50 ,
49
49
39
48
47
46
35
44
41
Joint-stock land banks, in liquidation..do
51
45
44
43 |
38
36
42,952
32,725
Bank debits, total (141 cities)
do
41,152
35, 771
37,645
38,731
39,919
42,135
39,112
40,988
40, 948
39, 964
46, 463
18,626
13, 268
New York City
do
16, 077
14, 952
15,147
15,657
16,124
17, 282 16, 288
15,079
17,402
15, 654
19, 148
24,327
19,457
Outside New York City
do
25,075
20,819
22,498
23,074
23,795
24,853
24, 033
23,586
24, 660
24,310
27,315
Federal Reserve banks, condition, end of mo.:
23,017
23,262
23,528
Assets, total
mil. of doL. 24,192
23,306
23,409
23,859
23, 704 23, 828
23,686
23, 833
24, 211.
24, 026
2. 312
2,304
2,274
2,265
Res. bank credit outstanding, total
do
2.250
2,243
2,234
2,280
2,267
2,275
2, 293
2, 264
2, 309
0
Bills bought
do
0
0
0
0
0
0
0
0
0
0
0
0
Bills discounted
do
6
4
2
3
3
3
4
2
11
6
5
2
11
United States securities
do
2,184
2,184
2,199
2,184
2,184
2,184
2,184
2,184
2,184
2,184
2, 184
2,184
2,184
20, 822
Reserves, total
do
19,881
20, 366
20,036
20,285
20,615
20,436
20,
583
20,
571
20,
603
20
841
20,712
20,533
20, 569
20, 031
Gold certificates
do
19, 760
19,913
20, 325
19,586
20,112
20, 322 20, 317
20, 314
20,461
20, 572
20,204
Liabilities, total
do..._. 24,192
23,262
23,859
23,017
23,306
23, 528
23,409
23,704
23, 833
23,828
24, 026
24,211
23,686
15, 213
Deposits, total
do
16,127
16,191
16,396
16,351
16,272
16,132
15, 863 15, 781
15, 521
15,466
16, 220
15, 489
13,140
Member bank reserve balances
do
14, 215
14,026
14,203
13,371
13,051
12, 794 • 13, 227
13,930
13,151
13,724
12, 580
13,524
3,828
Excess reserves (estimated)
do
6,849
6,615
6,534
5,776
5,210
4,796
6,380
5,801
5,771
4, 557
5, 215
5,169
7,669
Federal Reserve notes in circulation_. do
5,743
6,022
6,143
6, 724
7,080
5,931
5,884
6,503
6,282
7, 432
6, 857
7, 234
91.0
Reserve ratio
percent..
91.1
91.0
90.6
90.8
91.0
91.0
91.2
91.1
91.3
91. 0
91.0
91.2
Federal Reserve reporting member banks, condition, Wednesday nearest end of month:
Deposits:
22,189
22,299
22,932
23, 712
24,311
Demand, adjusted
mil. of doL. 24, 324
23,431
23,093
23,949 I 24,544
24, 258
24,349
24,277
Demand, except interbank:
Individuals, partnerships, and corpora22,324
22,812
21, 771
22,401
22,518
23,612
tions
mil. of doL. 23, 814
23,173
23, 667 24, 029
23, 719
23, 662
23, 894
1,780
1,495
1, 595
1,579
1,820
States and political subdivisions....do
1,747
1,903
1, 870
1,604
1,876
1,889
1, "50
1, 906
826
214
332
United States Government
do
509
451
396
386
390
463
653
591
470
580
5,478
Time, except interbank, total
do
5, 410
5,455
5,397
5,448
5, 465
5,476
5,449
5, 443
5,459
5,445
5, 444
5,448
Individuals, partnerships, and corpora5,232
5,234
tions
mil. of dol-.
5,180
5, 273
5,269
5,240
5, 269
5,240
5,243
5, 285
5, 267
5, 260
5, 268
155
196
States and political subdivisions
do
192
179
185
181
171
183
174
153
160
15S
156
9,405
8,843
9,065
Interbank, domestic
do
9,076
9, 253
9,043
9,343
9,272
9,220
9, 357
9, 669
9,355
9, 078
18,432
15, 774
16,137
Investments, total
do
16,368
16,955
17,124
17, 680
17,689
17,872
18, 379
18,101
18,199
18, 335
9,543
9,719
IT. S. Govt. direct obligations, total, d o . . . . 11,860
9,950
10,334
10,812
10,974
11, 255 11, 279
10.578
10,982
11,318
11,251
990
784
611
Bills
do__685
727
869
929
1,080
742
785
797
1,074
1,019
8,348
6,898
6,978
Bonds
do
7,051
7,052
7,753
7,833
7,929
7,653
7,917
' 8, 279
7, 952
7,949
r
2,522
1,861
Notes
do
2,130
2,214
2, 555
2,212
2,246
2,183
2,190
2, 280
2,242
2,283
2, 253
Obligations guaranteed by U. S. Govern2,922
2,707
2,743
2,744
ment
mil. of dol-.
2,766
3,022
2, 753
3,115
3,038
3, 330
3,319
3,316
3,309
3,650
3, 524
3,675
3,674
Other securities
do
3,855
3, 693
3,793
3,753
3,579
3,731
3, 800
3,768
3,611
11,259
9,128
10, 226
Loans, total
do
9,390
9,308
9, 495
9,828
9,870
10,453
11,203
11,024
10,903
10, 572
6,593
4,911
5,673
5,018
5,076
5,465
Commerc'l, indust'l, and agricult'1-..do
5,227
5, 532
5,897
6, 554
6, 447
6,047
6,222
428
299
301
314
347
Open market paper
do
319
354
367
371
397
419
388
397
548
467
584
504
To brokers and dealers in securities, _ do
458
478
465
571
529
494
531
478
607
Other loans for purchasing or carrying
427
460
465
459
securities
mil. of dol- 455
454
445
451
453
428
431
436
439
1,256
Real estate loans
do
1,228
1,230
1,229
1,232
1,228
1,235
1,239
1,244
1, 265
1,256
1, 253
38
39
Loans to banks
do
37
35
36
52
40
42
37
40
39
43
45
1,969
1,724
1,755
1,737
1,748
1,778
1,799
Other loans
.
do
1,966
1,962
1,883
1,919
1,924
1,940
Installment loans to consumers:*
By credit unions:
v 22.2
25.1
25.2
26.4
29.0
31.8
34.3
35.3
25. 2
30.8
32.7
Loans made
do
24.0
29.6
24.3
25.6
26.4
24.4
26.4
26.5
28.3
28. 0
•P 25.7
26.8
27.1
25.9
Repayments
do
27.0
189.2
185.8
195.4
188.0
190.0
203.2
210.2
217.7
216.1
P 214.2
219.8
220. 5
Amount outstanding, end of month., do
222.4
By industrial banking companies:
40.8
42.4
48.6
50.7
51.6
43.7
44.7
52.5
49.5
51.8
M3.0
38. 4
Loans made
do
46.1
44.1
42.4
43.1
44.6
44.1
47.5
46.6
47.5
46.7
47.0
r 44, 5
'42.4
Repayments
do
46.1
r
300.3
283.7
288.3
291. 5
296.5
301.5
' 303. 0
288.3
309.1
306.3
287.7
Amount outstanding, end of month..do
309.1
305. 1
By personal finance companies:
77.4
68.2
107.6
67.0
84.9
85.3
85. 0
87.0
68.5
Loans made
do
86.2
v 80.3
89.3
70.1
74.8
69.0
80.3
81.0
80.0
79.3
74.5
80.9
Repayments
do
81.3
505. 4
503.5
501.5
506.1
487.1
514.0
519.3
527.0
530. 0
531.1
Amount outstanding, end of month do ..... » 527. 3
536. 0
Money and interest rates:§
Bank rates to customers:
2.00
2.06
1.95
1.98
New York City
_ ..percent. .
2.53
2.53
2.58
2.62
7 other northern and eastern cities
do
3.36
3.25
3.23
3.29
11 southern and western cities
do . . .
1.00
1.00
1.00
1.00
1.00
1.00
1.00
1.00
1.00
1.00
1.00
1.00
Discount rate (N. Y. F. R. Bank)
do
1.00
4.00
4.00
4.00
4.00
4.00
4.00
4.00
100
4. 00
4.00
4.00
4.00
Federal land bank loans
do
4.00
1.50
1.50
1.50
1.50
1.50
1.50
1.50
1.50
1. 50
1.50
1.50
1.50
Federal intermediate credit bank loans.do
1.50
Open market rates, N. Y. C :
Prevailing rate:
Acceptances, prime, bankers, 90 days
7
/f6
percent..
Me
Me
Me
Me
Me
Me
'A 6
Com'l paper, prime, 4-6 months
do
-5A I
Yt
Vi
1
Time loans, 90 days (N. Y. S. E . ) - d o
IK
Hi
' IK
IK i
IK
IK
IK
IK
IK
p Preliminary.
' Revised.
cfTo avoid duplication these loans are excluded from the totals.
§For bond yields see p. S-18.
•New series. For data beginning 1929 for industrial banking companies, see p. 18 of the September 1940 Survey; for data beginning 1929 for personal finance companies, see
table 25, p. 26 of the September 1941 Survey; data beginning 1929 for credit unions are shown in table 27, p. 26 of the October 1941 issue.
fRevised series. For revisions in data on emergency crop loans published in the Survey prior to the September 1940 issue, see note marked " t " on p. 76 of the February
1941 Survey.
S-14
SURVEY OF CURRENT BUSINESS
Monthly statistics through December 1939, together with explanatory notes and references
to the sources of the data, may be found in the
1940 Supplement to the Survey
1940
January 1942
1941
January
February
March
April
May
June
July
August SeptemOctober
ber
FINANCE—Continued
BANKING—Continued
Money and interest rates—Continued.
Open market rates, N. Y. C—Continued.
Average rate:
Call loans, renewal (N. Y. S. E.)
percentU. S. Treasury bills, 91 days§
do...
Av. yield, U. S. Treas. notes, 3-5 yrs.cf--do_-_
Savings deposits:
Savings banks in New York State:
Amount due depositors
mil. of dol.
U. S. Postal Savings:
Balance to credit of depositors
do...
Balance on deposit in banks
do.._
1.00
.02
.34
1.00
.02
.35
1.00
.02
.43
1.00
.04
.55
1.00
.11
.50
1.00
.10
.52
1.00
.11
.44
.5, 541
5,639
5,688
5,664
5,652
5,661
5,627
1, 323
29
1,299
37
1,304
36
1,314
34
1,318
33
1,320
31
1,317
30
842
38
51
167
4
15
39
1
1,024
40
53
196
6
15
29
14
7
22
11
19
1
44
4
24
646
89
16, 572
596
838
9,090
3,067
444
1,512
369
75
358
175
250
25
838
1, 399
578
4,699
1,349
1,086
48
57
188
6
13
30
6
10
20
6
11
3
59
1
23
691
102
13,309
665
1,043
5,928
117
441
2,347
708
158
254
72
259
422
873
15
262
4,097
1,576
1,124
43
54
161
1,129
66
58
182
7
1,211
58
60
188
12
10
39
5
5
22
6
18
4
35
1
31
800
105
13, 444
855
765
3,647
394
78
1,051
215
56
282
85
523
25
359
119
460
6,128
2,049
1,149
35
70
191
8
8
44
1.00
.12
.38
1.00
.12
.37
5, 604
5, 628
1,310
30
1,304
30
1,119
40
63
181
6
4
36
3
10
22
5
14
6
52
3
20
735
100
10,065
647
913
2,777
104
19
807
93
110
215
119
168
95
712
175
160
4,765
963
970
36
51
166
4
8
25
5
6
22
7
19
4
48
3
15
619
98
9,449
401
684
3,155
157
82
451
88
188
201
113
251
16
1,030
328
250
3, 591
1,618
1.00
.13
.33
1.00
.10
.34
1.00
.09
.41
5,575
5, 555
5, 555
5, 554
1,307
29
1,309
'28
1,311
1,317
r
27
908
40
59
165
9
4
36
6
5
18
6
19
1
34
2
25
570
74
13,422
500
1,072
6,698
429
55
731
126
72
597
346
584
272
562
36
2,888
3,579
1,573
954
46
76
166
3
5
46
8
12
10
7
18
3
31
2
21
585
81
11,134
672
1,732
3,799
56
61
1,503
280
314
165
95
712
55
357
45
156
3,492
1,439
735
46
39
123
5
7
42
7
3
11
809
29
57
138
3
8
39
4
5
18
8
13
3
23
2
12
516
69
7,333
358
577
2,879
146
73
1,027
128
117
333
229
142
28
238
269
149
2,790
729
COMMERCIAL FAILURES!
Grand total
number...
Commercial service, total
do
Construction, total
do
Manufacturing and mining, total
do
Mining (coal, oil, miscellaneous)
do
Chemicals and allied products
do_
Food and kindred products
do
Iron and steel products
do
Leather and leather products
do
Lumber and products
do
Machinery
do
Paper, printing, and publishing
do
Stone, clay, and glass products
_do
Textile-mill products and apparel
do
Transportation equipment
_ _ do
Miscellaneous
do
Retail trade, total
do
Wholesale trade, total
..do
Liabilities, grand total
thous. of dol_.
Commercial service, total..
do
Construction, total
do
Manufacturing and mining, total
do
Mining (coal, oil, miscellaneous)
do
Chemicals and allied products
do
Food and kindred products
do
Iron and steel and products
do
Leather and leather products
do
Lumber and products
do
Machinery
do
Paper, printing and publishing
do
Stone, clay, and glass products
do
Textile-mill products and apparel
do..._Transportation equipment
do
Miscellaneous
do
Retail trade, total
do . .
Wholesale trade, total
do ....
15
3
33
2
24
529
57
9,197
448
618
3,827
328
226
763
84
63
366
203
562
83
528
56
565
3,472
832
7
27
6
6
15
5
16
4
44
1
23
771
95
11,888
359
599
4,217
197
88
894
555
214
293
29
524
163
820
7
433
5,084
1,629
25
5
7
24
15
13
2
42
5
30
719
104
13,483
552
836
5, 983
294
172
1,052
354
127
765
503
185
24
600
619
1,288
4, 501
1,611
4
18
13
14
6
36
3
30
745
108
13,827
573
1,120
4,421
202
103
1,493
257
20
451
271
240
250
434
55
645
3,970
3,743
4
3
17
2
15
460
67
9,393
447
594
4,189
99
185
2,262
66
37
342
477
103
17
167
427
3,239
924
LIFE INSURANCE
Association of Life Insurance Presidents:
Assets, admitted, totalt
mil. of dol.. 26, 508 25. 076 25,170 ! 25, 299 25, 400 25, 551 25, 655 25, 752 25, 888
26,106
26,002
26, 376
26, 245
4,694
4,697
4,710
4, 959
4,727
4,851
Mortgage loans, total
do
4,744
4, 759
4,778
4,796
4,820
4.924
4,882
663
664
658
721
675
665
666
669
Farm
do
663
673
674
677
678
4,034
4,030
4,130
4,284
4,052
4,093
4,109
4,062
Other
do
4,081
4,123
4,146
4,204
4,247
1,661
1,701
1,585
1, 541
1,653
1,618
1.607
Real-estate holdings
do
1, 643
1,632
1,605
1,593
1, 575
1,558
2,398
2,302
2,271
2,413
2,347
2,335
2,383
Policy loans and premium notes
do
2,371
2,358
2,325
2,312
2,293
2,281
Bonds and stocks held (book value), total
15,034
14,851
15, 032
14,971
15,116
15, 418
15,718
15,185
15, 243
15, 582
mil. of doL. 16,368
15, 814
16, 265
7,439
6,866
6,889
6,883
6,744
6,778
7,047
6,792
6,788
Gov't. (domestic and foreign), total.do
6,914
6,987
7,092
7, 391
5, 603
5.010
4,910
5,036
5,045
4, 943
5,191
4,961
4,962
5,082
5,157
TJ. S. Government
_ do .
5, 233
5, 546
4,
238
3,794
3,619
3,784
3,775
3,879
4,068
3,931
3,965
4,108
4, 224
Public utility
do...
3,972
4,043
2,755
2. 745
2,689
2,702
2.719
2, 717
2,748
2, 717
2,720
2,747
2, 763
Railroad
. _ do .
2,711
2,737
1, 936
1, 621
1,672
1,672
1,740
1,716
1,855
1, 745
I, 770
1,867
1,887
Other
do
1,821
1,815
828
1,006
862
1,144
955
1,166
1,120
1,192
1,201
1,202
1,139
1,171
815
Cash
do
54]
515
557
462
518
530
522
554
542
542
524
533
Other admitted assets
do
Insurance written:®
Policies and certificates, total number
759
721
800
689
727
738
731
816
784
812
731
738
820
thousands..
38
28
67
30
32
44
43
24
37
33
50
62
42
Group
do _. _
470
468
494
439
464
459
450
514
502
516
438
431
499
Industrial
do
251
226
238
219
231
237
259
259
250
246
243
245
279
Ordinary
do
645, 046 699, 549 730, 327
Value, total
..thous. of doL. 681,479 560,912 694, 740 • 572, 443 588,359 r646,196 661, 627 657, 027 648,144 r660,125
89, 360
34, 256 108.003 ' 35, 063 r 43,240
41,992
51,096 * 46,765
62, 997 T 82, 909 r 71, 689 130, 229
74. 794
Group
__do
141,349 134, 859 142, 371 126, 458 136,166 148,978 147,462 151, 391 135, 633 128, 783 131,329 128,493 148,388
Industrial
.do
391,797
450,
770
444,
366
410,
922
408,
953
455,
226
463,069
458,
871
449,
534
442,028
448,
433
507,145
Ordinary
.do
440, 827
247,966 251, 508 357,173 285, 226 264,175 280,753 261,495 265,108 272,173 271,482 245,173 251, 887 261, 865
Premium collections, total®...
.do
28, 454
51,185
39, 681
23, 670
23, 640
26, 494
21,414
25, S89
20,732
22,840
Annuities
do
29, 859
33, 693
21,478
14,956
15, 336
11,949
11, 844
15,932
13,561
14,142
12, 965
13,149
14. 637
Group
_do
12, 519
13, 782
13, 828
91,
469
60,
863
53,168
56,
278
56,
279
62,
514
61,
977
56,423
56,964
55,685
Industrial
.do
61,120
52, 341
60, 842
159,179 154, 932 199, 563 169, 346 168, 324 178,184 165,139 168, 613 168, 675 171, 666 154,869 155, 739 168. 703
Ordinary
do
Life Insurance Sales Research Bureau:
581,692 505, 474 596, 534 522, 762 537. 557 598, 217 597, 203 604,162 594,164 582,292 581,171 581,998 658, 339
Insurance written, ordinary, total
do
46, 258
38, 381
40,072 i 43, 440
46, 549
49,078
47, 503
46, 533
New England
do
47, 099
44,850
47, 531
45, 204
51, 195
158,819 139,103 159,584 I151, 318 148, 981 160,635 161,810 161, 514 154,975 153,032 147,610 148, 781 181, 013
Middle Atlantic
_.do
135,
360
115,
940
137,459
121,164
126,136
140,480
136,931
138,
612
East North Central
do
134, 008 132, 766 131,895 131,367 152,179
52, 792
47, 328
58,527 I 46, 963
49,509 I 54,634
57,076
56,020
West North Central...
do
55,746
55, 069
56,182
59, 526
55,457
57, 874
50,654
61,072
49, 473
50,217 I 59, 030
61,160
60, 599
South Atlantic
do
63, 413
61,535
57,946
66.130
61,115
23,383
19, 440
25,230
19, 207
20,201 I 25,156
24,524
24, 583
East South Central.
do
24, 233
26, 792
23, 347
24,845
26, 556
40, 553
37, 908
46,644
35,973
39,829 I 47, 986
41, 650
43, 591
West South Central
do
44,993
45, 385
43,173
45, 507
43, 619
13,910
16,370 I 12, 348
12,481 ! 14, 517
15, 692
15, 854
12, 924
Mountain
_ do
15,624
15, 355
15,110
16, 507
15, 337
Pacific
do.... 52, 743 43, 796 51,576 i 42, 876 43,654 I 51,114 50, 312 52, 988 52, 068
54, 685
53, 205
61, 437
54, 562
93 i
Lapse rates
.
1925-26=100..
87
J37 companies through 1940 and 36 companies in 1941 having 82 percent of total assets of all United States legal reserve companies.
r Revised.
040 companies through 1940 and 39 companies in 1941 having 81 percent of total life insurance outstanding in all United States legal reserve companies.
§Tax-exempt bills prior to March 1941; taxable bills thereafter.
cf Tax-exempt notes.
fRevised series. For data beginning January 1940 and an explanation of the revision, see p. 32 of the March 1941 Survey. For previous revision of 1939 data, see D. 31 of
the^March 1940 Survey.
January 1942
S-15
SURVEY OF CURRENT BUSINESS
1941
Monthly statistics through December 1939, to1940
gether with explanatory notes and references
to the sources of the data, may be found in the Novem- Novem- December
ber
ber
1940 Supplement to the Survey
1941
January
February
March
April
May
June
July
August
September
October
FINANCE—Continued
MONETARY STATISTICS
Foreign exchange rates:©
0.298
0.298
0.298
0. 298
0.298
Argentina
_.dol. per paper peso.. 0.298
0.298
0.298
0.298
0.298
0.298
0.298
0.298
.061
.061
.061
.061
.061
.061
.061
.061
.061
.061
Brazil, official
___dol. per milreis..
.061
.061
.061
.302
.301
.301
.301
.302
.301
.301
.301
.301
.301
British India
dol. per rupee..
.302
.302
.301
.891
.850
.877
.874
.882
.888
.886
.848
.837
.883
Canada
dol. per Canadian doL.
.869
.866
.890
.052
.052
1.052
(2)
(2)
.052
.052
(2)
Chile
dol. perpeso__
.052
.052
)
(2)
(2)
.570
.570
.570
.570
. 570
.571
.570
.570
Colombia
do
. 570
.570
.571
.570
.570
.400
.400
.400
3.400
.400
.400
Germany.
._
.dol. per reichsmark..
.400
.400
()
.050
.050
.051
3.053
.050
.050
.050
.050
Italy
dol. per lira._
()
.234
.234
.234
.234
.234
.234
.234
.234
Japan
dol. per yen..
<.234
()
()
()
()
.205
.205
.205
.205
.205
.205
.204
.204
Mexico
dol. per peso..
.205
.205
.205
.205
.206
2
.238
.238
.238
3.238
.238
.238
.238
.238
Sweden
dol. per krona_.
()
(2)
(2)
(2)
(2)
4.032
4.034
4.032
4.032
United Kingdom
dol. per £
4.032
4.025
4.035
4.034
4.033
4. 031
4.030
4.036
4.033
Gold:
22,367
22,506
22, 575 22, 624 22, 675 22, 719 22, 761 22, 800
Monetary stock, U. S
mil. of doL. 22,785
22,116
22,232
21,801
21, 995
Movement, foreign:
213 -10,494 -3,846 -3,980 -27,728 -31, 202 -46, 786 -32,230
Net release from earmark® _ _thous. of doL.
-39,495
7,417 -52,812 -46,153
2
3
Exports
do
3
3
4
5
5
6
6
13
7
6
0,444
Imports
do
34,835
65, 707
330,113 137,178 234, 246 108,615 118,569 171,994
37, 055 36,979
30,719
Production, estimated world total, outside
U. S. S. R
thous. of dol..
108,080 107,800 106,015 100,450 106,365 105, 525 105,140 105, 875 109, 970 *108,605
Reported monthly, totals
do
r 93,010 * 92, 384 r 90,964 r 84,564 <• 90, 018 r 89, 039 T 88, 599 v 89, 382 p 93, 238 p 92,188 v 94, 299 v 93, 876
46,292
Africa
do
47, 686 p 46,154 v 48,027 » 47, 429 v 47,102 v 48, 028
46,711
46,289
47, 279 44,411
47,089
15,384
Canada
. _ _do.
15,775
15,780
15,199
15, 721 15, 890 15,983
14,446
16, 353 15, 578 16,141
15,629
18, 855
United States
do
16,
413
19,952
16, 022 16,468
19, 694
16,646
15,408
18, 537 17,487 20,881
16,023
Receipts at mint, domestic (unrefined)
338,
233
292,
251
275,091
385,
350
324,135
254,137
296,624
255,262 358, 603 322, 506
397,336 338,006
233,065
fine ounces..
9,071
8,924
10,163
10,364
10,640
8,522
8,732
8,593
9,357
9,612
9,732
Currency in circulation, total
mil. of dol
8,781
Silver:
1,212
1,048
348
615
70
123
319
817
68
353
Exports
thous. of dol..
207
210
3,356
4,221
4,346
3,347
4,489
4,690
4,576
3,292
4,721
Imports
do
4,686
3,561
4,099
.348
.348
.348
.348
.348
.348
.348
.348
.348
Price at New York
dol. perfineoz._
.348
.348
.348
.348
22, 774 22,394
20, 645
24,329
20, 359 ' 23,214 22, 744
Production, world
thous. of fineoz..
23,145
23,208
1,802
1,484
1,625
1,642
1,557
1,902
Canada§
do
1,660
1,708
1,357
1,852
2,058
7,152
6,339
4,568
3,769
Mexico
do
8,750
6, 556
7,104
7,792
8,062
6,726
5,620
6,445
5,087
5,843
6,499
United States
do
5,733
6, 465
6,277
6,367
6,009
5,047
6,310
Stocks, refinery, end of month:
1,231
2,382
1,036
2,107
1,792
1,619
United States
do
1,730
1,340
2,181
2,324
2,803
2,235
CORPORATION PROFITS
(Quarterly)
Federal Reserve Bank of New York:
Industrial corporations, total (167 cos.)J
280.8
mil. of doL.
270. 3
88.5
87.2
Autos, parts, and accessories (28 cos.).do
81.5
34.5
31.1
Chemicals (13 cos.)
do
35.1
18.9
Food and beverages (19 cos.)
do
25.9
21.5
Machinery and machine manufacturing
10.9
(17 cos.)
mil. of doL .
12.0
12.5
6.4
Metals and mining (12 cos.)
do
5.5
13.3
Petroleum (13 cos.)
do
9.2
15.9
66.1
Steel (11 cos.)
do
65.2
49.7
42.2
Miscellaneous (54 cos.) t
do
49.5
48.6
Public utilities, except steam railways and
telephone companies (net income) (52 cos.)
61.3
mil. of doL .
54.4
53.6
Federal Communications Commission:
65.9
Telephones (net op. income) (91 cos.)..do
70.9
62.9
73.6
Interstate Commerce Commission:
188.4
Railways, class I (net income)
do
124.5
103.2
Standard and Poor's Corporation (earnings):A
v 108. 2
Combined index, unadjusted*
1926=100
111.6
v 110.7
113.0
Industrials (119 cos.)
do
114.1
v 111.8
40.9
Railroads (class 1) •
_ do~
71.2
"56.4
Utilities (13 cos.)
do
v 150.5
140.0
» 138. 3
PUBLIC FINANCE (FEDERAL)
Debt, gross, end of month
mil. of dol._ 55,040
53, 584
47,176
47, 236 47, 737 48, 979 49, 540 • 50, 936 51,340
45,039
45, 890 46,117
44, 277
Public issues:
Interest bearing
do.
46, 377
40,901
47, 729
40,972
39,102
41, 342 42, 285 42, 669 43,916 44,133
38, 502
39, 908 40,023
Noninterest bearing
do
544
556
593
504
554
550
566
574
561
568
557
Special issues to government agencies and
557
548
6,664
6,658
trust funds
mil. of doL.
5,683
5,834
6,806
5,534
6,470
5,209
6,120
5,370
Obligations fully guaranteed by U. S. Gov't.:
5,426
6,324
5,707
6,930
0, 929
5, 905
6, 359
Total amount outstanding^f
mil. of dol__ 6, 316
6,928
5, 901
5,901
6,360
5,901
5, 901
6,930
6.550
By agencies:d*
1,269
1,269
1,269
Federal Farm Mortgage Corp
do
1,269
1,269
1,269
1,269
1,269
1,269
1,269
1,269
1,269
1,269
Home Owners' Loan Corporationf. do
2,409
2,409
2, 409
2,409
2,409
2,600
2,600
2,600
2,409
Reconstruction Finance Corp
do
1,741
2,600
2,101
2,409
2,600
2,101
2,600
1,802
2,101
1,097
1,097
1,097
1,741
Expenditures, totalf
thous. of dol._ 1,860,445 817, 888
1,097
2,101 1,563,712 1,882,011 2,089,336
1,097 1,077,438 1,400,675
1,741 1,142,207 1,545,602
OO1
Oil
AHC
National defense*
do
811,
995
1,600,253 1,124,095 1,319,955 1,527,001
1,436,699 378, 564 1,187,277 1,117,844 584,040 748,345 1,316,452 OOC 5,881
Agricultural adjustment program*
do
27, 295 22, 025 959,880 26, 764 32, 456
57, 865
71, 820
89, 814 763,061
87,106
102,339 470, 072 568, 693
Unemployment relief*
do
104,596
94,912 137, 740 159,068
60, 866 145, 432 134, 776 44, 232 105, 707 108,493 109,414
95, 347 137,865
Transfers to trust accountf
do
9,565 132, 075 14,311
45, 010
6, 200
9, 750
28, 625 22, 550 147, 843 11, 580
26, 043 155, 299 145, 630
Interest on debt*
do
' 4, 986 25, 775 20, 507 150, 211 28,075
11, 503 339, 431 168,554
74, 604
15', 490
8,556 169, 359
10, 597
Debt retirements
do.
218,934
17,128
1,335
6, 710
24, 828 34, 223
25,109
7, 951
73, 335
2. 740
1,539
2,122
792
All other*
do.
15, 223
2, 654 250, 054 237, 599 268, 731
7,214 217, 299 229,148
1,171 108,181 210,681
228' 600 161, 687
218,167 250,512 2
268,029
3
4
242,100
v Preliminary.
' Revised.
i Average for May 1-20.
No quotation.
Average for June 1-14.
Average for July 1-25
ONo quotation for Belgium, France, and the Netherlands since June 1940.
ofThe total includes guaranteed debentures of certain agencies not shown separately.
<8>Or increase in earmarked gold (—).
©Number of companies varies slightly.
AFormerly Standard Statistics Co., Inc.
*New series. Earlier data on new items under Federal expenditures are shown in table 31, p. 23 of the November 1941 Survey.
tRevised series. Beginning July 1940 social security employment taxes are appropriated directly to the old-age and survivors insurance trust funds and do not appear
as transfers under expenditures, as formerly; earlier data on total expenditures and transfers to trust accounts have, therefore, been revised to exclude transfers to this fund
(net receipts on p. S-16 similarly exclude amounts transferred to this fund); for revised data beginning January 1937, see table 31, p. 23 of the November 1941 Survey. Data
for total obligations guaranteed by the United States and for the Home Owners' Loan Corporation have been revised beginning September 1939 to exclude matured debt,
funds for payment of which have been deposited with the Treasury; earlier data shown in the Survey similarly excludes matured debt.
JThe reduction of one company from the number shown in the 1940 Supplement was clue to a merger during the second quarter of 1940.
§Data reported by the Canadian Government; see note marked " § " on p. 33 of the June 1941 Survey.
^[Beginning with April 1940, where direct reports from foreign countries are lacking, available reports of the American Bureau of Metal Statistics are used. When no current reports are available at the time of compilation, the last reported figure is carried forward. The comparability of the data has been affected by these substitutions. Data
for Belgian Congo and Sierra Leone, formerly included in figures for Africa and total reported monthly, are excluded beginning May 1940 and April 1941, respectively, as reports
are not available. During recent years, the reported figures for Belgian Congo amounted to between 1V$ and 2 percent of the total reported for Africa: production for Sierra
Leone is of minor importance. The total reported monthly has been revised to include exports of gold from Nicaragua, representing approximately 90 percent of the total
production of that country.
S-16
SURVEY OF CURRENT BUSINESS
Monthly statistics through December 1939, to- 1941
1940
gether with explanatory notes and references
to the sources of the data, may be found in the Novem- Novem- December
1940 Supplement to the Survey
ber
ber
January 1942
1941
January
February
March
April
May
June
July
August
Sep-
j Octoi
FINANCE—Continued
PUBLIC FINANCE (FEDERAL)—Con.
Receipts, total
thous. of doL. 730,198 484,796 740, 929 371, 605 673, 690
5G3, 949 362, 078 740, 226 339, 778 541, 352
Receipts, net*
do
31, 630
29, 967
27, 923
29, 783
33, 257
Customs
do
682,682 438,484 692,937 319,169 502,046
Internal revenue, total
do
66, 229
48, 906 428, 722
62. 759 104, 408
Income taxesf
do
180, 561 138,013
34, 498
46, 613 193, 379
Social security taxes
do
Taxes from:
2,194
1,881
1,910
2,208
Admissions to theaters, etc.®
do
1,271
1,025
1,306
Capital stock transfers, etc.®
do
Government corporations and credit agencies:
12,676
12, 645
12, 518
Assets, except interagency, total__mil. of dol__
12, 500
8,614
8,639
8,682
Loans and preferred stock, total
do
Loans to financial institutions (incl. pre1, 174
1,136
1,208
1,221
ferred stock)
mil. of doL_
515
516
523
518
Loans to railroads
do
2, 387
2,424
2,395
2, 390
Home and housing mortgage loans, do
Farm mortgage and other agricultural
3,212
3,280
3,257
3, 208
loans
_'
mil. of doL.
1,309
1,352
1,291
All other
do
1,298
U. S. obligations, direct and fully guaran827
829
850
teed
mil. of dol_ _
599
600
601
593
Business property
do
1,206
1,190
1,141
1,113
Property held for sale
do
1,392
1,257
1,367
1,296
All other assets
do
Liabilities, other than interagency, total
8,592
8,599
8, 579
8,526
mil. of dol._
Bonds, notes, and debentures;
5,914
5,919
5,915
5,917
Guaranteed by the U. S
do
1,386
1,422
1, 389
1,395
Other
do
1,292
1,237
1,214
1, 294
Other liabilities, including reserves, .do
418
413
417
415
Privately owned interests
do
Proprietary interests of the U. S. Govern3,629
3, 559
3,666
3,526
ment
mil. of doL.
Reconstruction Finance Corporation, loans outstanding, end of month :t
Grand totalf
thous. of dol._ 2,880,470 1,697,386 1,712,635 1,804,249 1,939,886
Section 5 as amended, total
do ... 723, 604 751, 498 763, 653 770, 730 768, 580
Banks and trust companies, including
receivers
thous. of doL. 82, 986 109, 214 115,028 112,026 108, 771
3,161
3,998
4,262
4,268
4,581
Building and loan associations
do
1, 365
1,790
2,077
1,998
1,906
Insurance companies
do
187,185
169,
027
159,
534
165,118
168,
044
Mortgage loan companies _. _.
do
447, 510 472, 596
473, 881 481,961 481,977
Railroads, including receivers
do
1,398
2,795
2,753
3,498
3,360
All other under Section 5
do
Emerg. Rel. and Constr. Act, as amended:
Self-liquidating projects (including financ19, 511
19,486
19,443
ing repairs)
thous. of doL. 17,671
19, 581
Financing of exports of agricultural sur0
47
47
47
47
pluses
thous. of dol..
Financing of agricultural commodities
434
443
443
443
445
and livestock
thous. of dol...
Loans to business enterprises (including
participations)
thous. of dol.. 145, 654 126, 008 121, 678 119,061 117,464
National defense under the Act of June 25,
71, 249
93,912
63, 864
51,387
1940*
thous. of dol.. 785, 226
Total, Bank Conservation Act, as amended
thous. of doL. 429, 898 559, 420 556, 711 649,195 468, 853
74, 044
83, 507
83, 231
83, 460
82, 897
Drainage, levee, irrigation, etc
do
703, 940
94,141 115,875
90, 936 388, 378
Other loans and authorizations!
do
1,566,871 602, 443 541,159
1,566,408 565, 418 393,683
39, 950 49,197
41, 060
1,513,017 '362,005 482,858
1,207,513 74,881
63, 271
34,131
43, 053 165, 204
1,744
2,098
1, 730
801
770
842
1,277,092 455, 556 553,833 1,136,079 488.758
1,276,009 412, 942 396, 510 1,134 ,914 445. 293
38, 217 36, 743 34,511
34, 040
36. 114
1,211,087 399,783 500,132 l,07( ,506 431,294
916,170
83, 668 58, 674 779, 917
68. 308
47, 926 172, 696
48, 910
31,817
37, 197
2,222
2 107
691
12, 909
8,681
1,115
523
2,406
13, 282
8,796
13,108
8,800
1,103
523
2,427
1,099
505
2,436
1,690
754
13, 277
8,804
1,115
505
2,445
3,251
1,386
3,334
1,409
3,288
1,472
3,227
1,511
3,191
1,553
3,152
1,690
602
1, 245
1,501
1,297
1,685
905
623
1,392
1,389
925
636
1,497
1,415
947
653
1,567
1,930
967
664
1,625
1,800
8,696
9,377
9,297
9,417
10,142
10,123
5,916
1,390
1,391
421
6,560
1,385
1, 432
422
6,371
1, 434
1,492
423
6,370
1,443
1,604
424
6,939
1,442
1,761
425
6,937
1,445
1,741
426
6. 937
1. 434
1. 859
'427
6, 938
1,417
1,952
428
3,792
3,484
3,388
3,436
3,286
3, 333
3,418
3,718
13, 853
8, 756
1,101
497
2,413
2,246
927
13,882 i 14,076
8,826 I 8, 804
1,076
1.075
497
497
2,413
2,427
3, 128
1,738
968
671
1,710
1, 862
10,231
2,312
1,044
14, 452
9,033
1,074
484
2,413
3. 107
1,957
1,015
689
1,805
1,911
10,306
1.982,357 2,020,115 2,088,893 2,152,843 2,230,358 2,363,687 12,541,142 2,820,257
773, 899 771, 727 752, 300 751, 305 740, 224 "37,864 738,058 | 725,550
105,808 102, 702 99, 304 96, 702 92, 938 89, 787 88, 088 85, 310
3,918
3,574
3, 370
3, 266
4,356
4, 368
4,813
4.594
1,628
1,532
1,389
1,551
1,742
1,669
1,722
1, 696
172, 452 173,118 174, 640 176, 579 177, 864 180, 517 182, 787 186, 389
486, 877 486, 938 469, 658 469, 634 461, 567 460, 953 460,813 447, 771
2,308
1,469
1,425
1,482
2,652
2.365
2,435
2,408
18, 644
18, 615
18, 550
18, 490
18,291
47
47
47
47
47
443
443
439
439
437
239,194
18,124
18,0S5
17, 737
47 j 47
47
434
115,827
437 I 436
114, 478 154, 305 151, 733 150, 462 149, 603 147,422
142, 618
137,171
188,244
306, 243 355, 741 409, 626 567,097
674,087
463,248 460, 313 458,471 455,198 451, 429 435, 828 433, 238 431,335
77, 243 76, 962 74, 343
83,161
75, 859 74,497
78, 622 78, 626 534,
915 559,797 734,106
389, 260 390, 389 391, 090
390, 766 435,102
CAPITAL FLOTATIONS
Security Registrations t
(Securities and Exchange Commission)
Total securities effective under the Securities
272, 521 163, 584 648,401 108, 230 176, 042 154.477
Act of 1933
thous. of dol.. 193, 416 161, 748 32 618 415, 699 183,098 162,828
1, 257
60
212
2,862
0
0
0
216
0
0
2,397
665
Substitute securities*
do
374
3,744
4,105
3,514
4,758
4,859
25,150
32, 048 76, 515 11, 838 29,481
10, 748 31,885
0
Registered for account of others
do
Registered for account of issuers, exclusive of
substitute securities
thous. of doL. 188,415 154,128 317, 760 390, 549 179, 584 160, 431 154, 948 195, 341 151, 530 618, 545 97, 482 144,098 150,159
2,349
2,536
5, 305
6,397
25, 594
24, 620
18, 242 33,033
62,174 30, 861
46, 931
2,297 327, 760
Not proposed for sale
do
Proposed for sale:
Cost of flotation:
Compensation to underwriters, agents,
1,724
2,703
954
1,595
3,747
6,882
10, 677
1,174
2,384
2,726
4,267
3,983
1,272
etc
thous. of doL.
776
863
619
493
695
1,261
874
1,626
551
720
727
1,055
1,749
Expenses
do
182,
587
139,
988
142,267
102, 755 283, 658 353,990 159,294 122,411
89,839 159, 770 145,452 287, 765
Net proceeds, total
do
To be used for:
71,976
9,309
13, 069 46, 800 20,182
33,863
18,147
12, 642 17, 493 148,024
18, 923 28, 433 83, 233
New money
do
Purchase of:
552
9,663
3.728
4,612 152, 842
0
9,630
13,381
23, 493 11, 339
2,256
4,853
2,211
Securities for investment
do
0
0
0
249
0
1,372
0
82
0
0
100
0
0
Securities for affiliation
do
0
0
173
4,832
0
0
0
0
133
1,564
0
20
700
Other assets
do
22, 401
69, 825 223, 900 154, 049 128,973
46, 038 54,650 144,390 113,247 130,033
58, 520 104, 708 43,754
Repayment of funded debt
do
12, 591
1,213
9,071
1,934
2,093
13,000
1,802
681
540
0
Repayment of other debt
do
206
2,546
7,476
485
2,268
1, 823
813
9,427
18, 256
25, 711
5,069
1,897
Retirement of preferred stock..do
175
101
6,598
0
0
0
10
0
0
0
0
0
8
Organization expense
do
0
0
(•)
65, 471
13
672
613
28
83
40
Miscellaneous
do
1,148
337
120
2
15
r
Revised. • Less than $500. ^Includes repayments unallocated, pending advices, at end of month.
tRevised series. For revised data on income taxes beginning September 1936, see table 50, p. 18 of the November 1940 Survey. Data on total loans of the Reconstruction
Finance Corporation and "other loans and authorizations" revised beginning January 1937 to exclude a loan of $146,500,000 to the Rural Electrification Administration, advanced in varying amounts during 1937-39, now classified under allocations; this loan has been excluded from data shown in the Survey beginning with the October 1940 issue.
Certain other comparatively small revisions have been made in the grand total; currently such revisions are not carried into the detail. Data on security registrations revised
beginning January 1938, see table 47, p. 15 of the November 1940 Survey.
* New series. The new item of "net receipts" excludes social security employment taxes appropriated directly to the Federal old-age and survivors insurance trust fund!
for data beginning January 1937, see table 50, p. 18 of the November 1940 Survey. For data beginning 1938 for substitute securities, see table 47, p. 15 of the November 1940
Issue. National defense data include loans, participations and purchases of capital stock in corporations created by the Reconstruction Finance Corporation to aid in national defense.
® Because of changes in the tax rate under the Revenue Act of 1941, the series on collections from admissions to theaters and stock transfers which were included for the
purpose of showing trends in the volume of business in these fields of industry, rather than from a revenue standpoint, have been discontinued in the Survey. Data shown
above exclude collections from national defense taxes under the Revenue Act of 1940.
January 1942
S-17
SURVEY OF CURRENT BUSINESS
Monthly statistics through December 1939, to- 1941
1940
gether with explanatory notes and references
to the sources of the data, may be found in the Novem- Novem- Decem1940 Supplement to the Survey
ber
ber
ber
1941
January
February
March
April
May
June
August September
July
October
FINANCE—Continued
CAPITAL FLOTATIONS—Continued
Security Registrationsf—Continued
(Securities and Exchange Commission)
Gross amount of securities less securities reserved for conversion or substitution, total
thous. of doL. 190, 790
Type of security:
Secured bonds
- . d o — 47, 085
50, 750
Unsecured bonds
do
6,<«00
Preferred stock
do—
75, 829
Common stock
. -do
10, 526
Certificates of participation, etc
do
Type of registrant:
15, 480
Extractive industries_
-do
38,102
Manufacturing industries
do
11,170
Financial and investment
.
do
Transportation and communications-do
68, 563
Electric light, power, heat, gas and water
thous. of doL. 55, 018
Other
do
2,458
Securities Issued}:
(Commercial and Financial Chronicle)
Securities issued, by type of security, total (new
capital and refunding) _
thous. of doL. 237, 815
New capital, total
_
.do
110, 379
Domestic, total
. d o — 110, 379
Corporate, total
do
89, 427
Bonds and notes:
Long term
do
82, 399
Short term
do
575
Preferred stocks
do
2,645
Common stocks
do
3,809
Farm loan and other Government agencies.
_
thous. of doL.
0
Municipal, State, etc
do
20, 952
Foreign, total
__
do
0
Corporate
-do
0
Government
do
0
United States possessions.
..do
0
Refunding, total
...do
127, 436
Domestic, total.
do
127,436
Corporate, total
do
42, 384
Bonds and notes:
Long term
._
do
29, 336
Short term
do
0
Preferred stocks
do
13, 049
Common stocks
do
0
Farm loan and other government agencies
..thous. of doL. 31, 675
Munieipal, State, etc
do
53, 377
Foreign, total
.do
0
Corporate.
_
do
0
Government
do
0
United States possessions
do
0
Corporate securities issued by type of borrower,
total
thous. of doL. 131,811
New capital, total
do
89, 427
Industrial
do
43, 578
Investment trusts, trading, and holding
companies, etc
thous. of doL.
0
Land, buildings, etc
do
0
Public utilities
do
40, 687
Railroads
do
1,210
Shipping and miscellaneous
do
3,952
Refunding, total
do
42, 384
Industrial
do
16, 890
Investment trusts, trading, and holding
companies, etc
thous. of doL_
0
Land, buildings, etc
do
3,654
Public utilities
do
21, 841
Railroads
do
0
Shipping and miscellaneous
do
0
Domestic issues for productive uses (Moody's):*
Total
mil. of doL.
Corporate
do
Municipal, State, etc
do
269, 620 161, 071 413, 842 108, 038 174, 849 149, 559
158, 886 318, 856 » 393,713
182, 543
514
182,
325
70, 607 147, 045 135, 365
1,766 107, 318 60, 037
24, 263 48, 907
6,537
26, 578 15, 552 31, 826
35, 672
35
5,598
133,159
2,983
37, 565
8,832
5
82, 670
0
48, 422
2,151
24, 270
89,
33,
10,
44,
4,
770
288
570
010
687
1,731
250
0
18, 243 115, 944 114, 377
49, 926 19, 353 162, 693
209
200
69, 488
0
24, 097
2,983
0
0
41,013
25, 976
2,468
571
65,136
72, 221
6,074
250
123, 499
3,301
8,171
151, 341
4,122
87,729
329
37, 061
1,263
133, 644 121, 829
755
0
78, 052 171,360
10, 734 11, 740
43, 668
3,487
441,858 613, 226 420, 835
263, 536
95, 461
263, 536 190, 966 95, 461
52, 929
168, 943 62,199
44, 850
1,000
9,703
6,645
334,
77,
77,
31,
037
056
056
550
157,
405,
182,
182,
86,
553
311
311
634
920, 916
746,178
745, 328
39, 470
88, 434 111, 480
0
49, 500
1,000 268, 286
75,181
21, 980 23,094
56, 404 21, 111 94, 336
100
28,126
5,499
0
1,687
15, 605 17,166
4,190
5,260
16, 690 354, 273
18,094
20,119
405, 839 881,131 612,092
106. 750 519, 255 296,024
106, 750 519,005 295, 624
63,874 90, 467 43, 569
60, 945 74, 636 30, 377
2,010
55
0
10, 387
0
9,825
3,434
3,367
2,875
18, 249
91, 658
14, 978
46, 213
3,750
44,128
10, 000
13,138
80, 723
991
121
0
57, 245 24, 800
3,750
11, 223
0 104, 689
0
80, 229
10, 579
1,848
22, 737
18, 751
48, 760
8,143
470, 728 273, 400
360, 284 64, 856
360, 284 64, 856
327, 403 34, 265
299, 302
132, 066
132, 066
103, 261
22,140
0
8, 458
3,667
49, 626
0
2,700
50, 935
34, 326
46, 088
4, 434
18, 027
363
34, 326
5, 244
323, 825
0
1, 603
1,975
50, 348
330
1,154
1,096
24,851
637
3,752
2,310
55, 972
0
29, 468
1,195
28, 437
641
7,324
3,068
42, 000
52, 593
0
0
0
0
r 178, 322
r
178, 322
93,943
0
2,200
128, 767 40, 332
0
0
0
0
0
0
0
0
422, 261 325, 374
422, 261 325, 374
334, 580 271, 388
8,125
37, 381
0
0
0
0
256, 981
256, 981
227,012
9,440
86, 237
0
0
0
0
223, 242
223, 242
115, 288
645, 442
60, 416
850
0
0
850
174, 738
174, 738
107,181
5,440
37, 436
0
0
0
0
299,089
299, 089
197,102
65, 931
2,000
25, 595
416
292, 016 251,892
0
16,670
38, 702
2,286
3,861
540
208,
911
703
17, 398
0
83, 680
0
31, 607
0
106, 472
709
0
0
161, 757 108,087
0
0
5,303
35, 345
0
0
75, 793
0
10, 525
150
59, 465
' 24, 915
0
0
0
0
17, 425
12, 544
4,000
92, 829
27, 725
39, 833
0
0
0
o
Q
0
0
0
0
0
0
222,860
25,626
0
0
0
0
215, 553
14,047
0
0
0
0
262,886
168, 943
2,834
14, 300 30, 800
73, 381 23,186Q
0
0
0
0
0
0
0
396, 778 324, 316
62,199 52, 929
19,057
10, 243
258, 562
31,550
6,311
201, 922
86, 634
26,612
146,650
39,470
8,781
260, 976 203,857
90,467
63,874
29,454
19,459
0
25
141,335
23,840
909
93, 943
53, 586
0
0
0
155
5,336
10, 715
12,030
30,395
25, 776
1,421
334,580 271,388
33,575
99,406
0
65
6,527
18,010
637
227,012
1,107
0
106
39,661
3,120
17,136
115,288
41, 500
0
47
18,401
9,100
3,141
107,181
37,007
0
0
386
0
7,584
3,775
36, 715 51, 235
3,925
1,808
197,102 113, 390
51,170
21,886
0
0
0
0
230
0
7,922
10,559 238, 085
7,060
22, 852 23, 300
14, 000
7,500
6,090
86, 468 74, 427 161, 391
2,742
34,875
22, 782
0
214
5,840
21, 329
12, 700
0
3,592
24,894
1,329
10, 541
4,000
0
1,202
3,837
221,274 134,940
0
9,790
74, 529 23,415
0
11,250
161,424
50,718
2,513
0
2,876
67, 602
3,000
309
0
1,929
39,186
4,000
25,059
0
2,875
138,882
0
4,175
0
328
83, 317
6,860
1,000
0
0
45, 593
0
6,000
0
0
1,674
245
71, 625 102, 098
0
34, 837
60
0
0
2,056
74, 658
4,000
0
51
27
24
102
53
49
75
23
52
89
54
35
113
63
50
67
38
29
190, 249
177, 957
104,216
63,074
101, 656
89,394
277
44
439
58
432
57
166, 000
0
864
2,079
r
211
165
46
139
28
111
80
47
33
(Bond Buyer)
State and municipal issues:
Permanent (long term).
thous. of doL. 56, 491 79,802 202, 402 77,939
Temporary (short term)
do
114, 705 167, 225 96,146 175,389
COMMODITY MARKETS
Volume of trading in grain futures:
Wheat
mil. of bu..
283
228
406
282
Corn
do
47
68
91
74
Q
28,300
73,687
0
0
0
0
369, 741 212, 212
0
0
0
58,797 39, 843 32, 881 30, 591 28, 805
250
0
0
400
0
0
0
0
0
0
0
0
0
0
0
250
0
0
0
400
361, 876 316,068 110, 444 208, 544 167, 236
361, 876 316, 068 110, 444 208, 544 167, 236
113, 390
74, 427 161, 391 97, 050
72, 530 155, 881
0
0
5,398
1,897
112
0
96, 250
0
800
0
26, 955
20,198
0
0
0
0
34, 822
35, 364
0
0
0
0
25, 420
10, 597
0
0
0
0
130, 038 401, 830 195, 656 200, 311
43, 569 327, 403 34, 265 103, 261
52, 018 11, 552 63,178
4,068
303
281
22
47
25
22
97, 050
16, 336
63
53
10
116,001 144,891 151,610 ' 48, 330 • 65, 261 " 79, 661
138, 683 81, 995 150, 913 169,942
53, 669 ' 93,123
548
77
504
53
457
37
531
77
500
103
454
93
SECURITY MARKETS
Brokers' Balances (N. Y. S. E. members
carrying margin accounts)
606
Customers' debit balances (net)
mil. of dol_.
634
633
622
628
633
677
661
616
628
666
625
Cash on hand and in banks
do
199
185
189
196
199
199
204
207
186
189
186
214
195
403
460
396
Money borrowed
do
375
387
368
399
414
427
395
383
388
409
262
262
260
Customers' free credit balances
do
255
275
267
268
265
280
281
255
264
r
Revised.
i The indicated totals include face amount installment certificates not included in the break-down by type of security as follows: January, $154,350,000; August, $4,800,000;
October, $579,000.
JFor revisions in 1939 data from Commercial and Financial Chronicle, see notes marked "%" on p. 34 of the September 1940 and p. 35 of the March 1941 Survey.
*New series. For data on domestic issues for productive uses beginning 1921, see table 34, p. 17 of the September 1940 Survey.
tRevised
series. Data on security registrations revised beginning January 1938; see table 47, p. 15 of the November 1940 Survey.
SUKVEY OF CURRENT BUSINESS
S-18
Monthly statistics through December 1939, to- 1941
1940
gether with explanatory notes and references
to the sources of the data, may be found in the Novem- Novem- December
ber
ber
1940 Supplement to the Survey
Januatv 1942
1941
January
February
March
April
May
June
July
August
September October
FINANCE—Continued
SECURITY MABKETS-Continued
j
Bonds
j
Prices:
Average price of all listed bonds (N. Y. S. E.)
dollars..
94.80
Domestic
do
98.30
Foreign
do
49.83
Standard and Poor's Corporation:
High grade (15bonds)t--dol. per $100 bond.119. 2
Medium and lower grade: f
Composite (50 bonds)
do
99.4
Industrials (10 bonds)
do,_._
105.9
Public utilities (20 bonds)
do
107.4
Rails (20 bonds)
do____
84.9
Defaulted (15 bonds)f
do
24.8
Domestic municipals (15 bonds)
do
133.4
U. S. Treasury bondsf
do
112.4
Sales (Securities and Exchange Commission):
Total on all registered exchanges:
Market valuethous. of dol_.
88.348
Face value
. d o . — 161,048
On New York Stock Exchange:
Market value
do...76, 382
Face value
do
145, 446
Exclusive of stopped sales (N. Y. S. E.),
face value, total.
thous. of dol__ 140,746
U . S . Government
do
1,470
Other than U. S. Govt., t o t a l . . d o . . . . 139,276
Domestic
do
125,694
Foreign
do...13,582
Value, issues listed on N . Y. S. E.:
Face value, all issues
mil. of dol_ _ 57,821
Domestic
_.do_ —
53,646
Foreign
do
4,175
Market value, all issues
do
54,813
Domestic
__._do..._
52,732
Foreign
_.
do....
2,080
Yields:
Bond Buyer:
Domestic municipals (20 cities)...percent..
1-93
Moody's:
Domestic corporate
do
3.26
By ratings:
Aaa
do....
2.72
Aa—
do....
2.86
A
do
3.19
Baa
.do.—
4.28
By groups:
i
Industrials
.do
2.85
Public utilities
do.—
3.04
Rails
.do.—
3.91
Standard and Poor's Corporation:!
Domestic municipals (15 bonds)
.do
1- 90
U. S. Treasury b o n d s j . . .
do
1-85
Stocks
Cash dividend payments and rates (Moody's):
Total annual payments at current rates (600
companies)
mil. of d o L . 1,889.13
Number of shares, adjusted
millions..
938.08
Dividend rate per share (weighted average)
(600 cos.)
dollars-2.01
Banks (21 cos.)
do..3.00
2
Industrials (492 cos.)
do
-°5
Insurance (21 cos.)
do
2.62
Public utilities (30 cos.)
do....
!-82
L 5 8
Rails (36 cos.)
do—
Dividend declarations (N. Y. Times):
Total
thous. of doL. '37,821
Industrials and miscellaneous
do
683,7/5
Railroads
do.— 54,046
Prices:
|
Average price of all listed shares (N. Y. S. E.) j
Dec. 31, 1924=100..
51.6
Dow-Jones & Co., Inc. (65 stocks)
dol. per share.39.53
Industrials (30 stocks)
do
116.91
15
Public utilities (15 stocks)
do
-93
27 92
Rails (20 stocks)
do....
8
New York Times (50 stocks)
do
'-92
Industrials (25 stocks)
do
145.66
Railroads (25 stocks)
do— 20-19
Standard and Poor's Corporation: f
Combined index (402 stocks)-.1935-39=100_77.4
Industrials (354 stocks)
do
78.6
Capital goods (116 stocks)
do
78.7
Consumer's goods (191 stocks)
do
74.2
Public utilities (28 stocks)
do..—
74. 5
Rails (20 stocks)
do
68.4
Other issues:
Banks, N . Y . C . (19 stocks)
do
78.5
Fire and marine insurance (18 stocks)
1926=100.. 111.5
Sales (Securities and Exchange Commission):
Total on all registered exchanges:
Market value
__.thous. of doL_ 509,040
Shares sold
thousands..
26, 636
On New York Stock Exchange:
Market value
thous. of dol.-j 422,423
Shares sold
thousands.-! 19,099
Exclusive of odd lot and stopped sales
(N. Y . Times)
thousands..
15,052
93. 58
97.78
45.60
93.84
98.10
45.07
9. 305
9. 716
4. 581
92.72
96.82
45.47
93.73
97.73
46.28
94.32
98.25
47.01
94.22
98.08
47.67
94.80
98.60
47.79
95.04
98.92
47.11
94.86
98.58
48.85
94.74
98.27
50.79
95.25
98.72
50.75
118.0
117.7
11 7 "
116.7
116.9
116. 8
117.0
117.7
118.7
118. 5
118.1
118.8
98.5
103.0
105. 9
86.8
15.3
127.3
110.7
98.1
102.8
105.3
86.2
16.4
129.3
111.8
99.2
103. 0
105. 6
89.0
17.9
127.8
110.4
97.5
101.7
103.8
87.1
17.5
125.6
108.8
98.4
102.2
104.6
88.4
19.3
125. 4
110.1
99.5
103. 1
106. 0
89 5
20.7
126.8
110.8
99 3
102! 4
106.2
89.4
21.0
128.2
111.4
99.2
103.3
106. 3
87.9
21.6
129.5
111.5
99.9
104.8
107.1
87.8
23.9
130.4
111.7
99.6
104. 9
107.3
86.8
24.9
131.0
111.1
98.0
105. 1
107.2
84. 5
24. 4
131.2
111.1
99.2
105. 3
107.2
85.0
25.1
133.0
112.0
114, 606
186,432
125, 383
248,906
147, 635
276,042
91,476
148, 219
118,851
235, 872
133, 274
269,892
119,252
218, 628
95,055
173, 215
116, 272
222, 973
87, 766
160,891
105, 508
177,029
125,151
209,211
95, 500
164, 080
103, 243
221, 475
125,090
248, 732
75,999
130,068
96,162
209, 379
109,867
242, 720
100,577
196, 932
78, 266
153,363
98, 274
201,056
74, 506
144,101
89,563
155, 537
109,880
189,939
159, 006
2,422
156, 584
139,191
17, 393
211,237
2,206
209,031
190,149
18,882
230, 987
2, 707
228, 280
212, 637
15, 643
123, 647 214,382
2,224
1,417
121,423 212,965
109, 265 199,173
12,158
13, 792
209, 471
1,497
207, 974
194,885
13, 089
169, 272
948
168, 324
153.831
14, 493
149,426
1,010
148, 416
135,174
13, 242
189,118
2,598
186, 520
174, 588
11,932
140,157
1,431
138,726
127, 515
11,211
140,963
1,319
139,644
127, 575
12,069
178,899
1,307
177, 592
163,413
14,179
54, 237
49, 877
4,360
50, 756
48, 768
1,988
54,169
49,820
4,349
50,831
48, 871
1,961
54,139
49, 799
4,340
50, 374
48, 386
1,988
55, 678
51,416
4,262
52,518
50, 515
2,003
55, 534
51, 278
4,255
52, 322
50,293
2,029
56,041
51,836
4,205
53, 260
51,279
1,981
56,101
51,900
4,201
53, 217
51,165
2,052
56,387
52,192
4,195
53,418
51,287
2,131
57,856
53, 673
4,183
55,107
52,984
2,123
54, 225
49, 891
4,334
50, 277
48, 307
1,971
55, 746
51,419
4,328
52, 252
50,249
2,003
56,159
51,952
4,207
53, 237
51, 227
2,010 I
2.18
2.14
2.29
2.43
2.33
2.26
2.14
2.07
2.07
2.08
2.02
1.90
3.40
3.36
3.36
3.40
3.39
3.39
3.37
3.34
3.30
3.29
3.30
3.27
2.75
2.96
3.40
4.48
2.71
2.92
3.36
4.45
2.75
2.95
3.36
4.38
2.78
3.00
3.38
4.42
2.80
3.01
3.37
4.38
2.82
3.04
3.38
4.33
2.81
2.99
3.34
4.32
2.77
2.95
3.31
4.31
2.74
2.90
3.26
4.28
2.74
2.90
3.24
4.27
2.75
2.91
3.24
4.30
2.73
2.87
3.21
4.28
2.98
3.14
4.07
2.93
3.13
4.03 |
2.96
3.17
3.96
3.00
3.19
4.00
3.02
3.17
3.98
3.06
3.16
3.96
3.02
3.13
3.95
2.96
3.10
3.95
2.90
3.07
3.92
2.90
3.06
3.92
2.88
3.07
3.95
2.85
3.05
3.93
2.18
1.97
2.07 |
1.89
2.16 I
2.27
2.10
2.28
2.01
2.20
1.96
2.14
1.92
2.08
1.91
2.03
1.90
2.00
1.94
1.99
1.94
1.91
1.88
1.99 i
1, 781. 52 1,792.84 1,791.94 1, 796. 56 1,816.13 1,817.77 1,821.65 1,823.85 1,821.08 1,822.61 1,828.35 1,840.31
938.08
938.08
938.08
938.08
938.08
938.08
938.08
936.43
936. 43
938.08
938.08
1.90
3.01
1.88
2.54
1.97
1.47
685, 574
635,110
50,463
1.91
3.01
1.89
2.54
1.97
1.53
331,721
305, 652
26,069
1.91
3.01
1.89
2.54
1.94
1.53
218, 317
204, 574
13, 743
1.94
3.01
1.92
2.54
1.94
1.56
1.94
3.01
1.92
2.54
1.94
1.56
1.94
3.01
1.93
2.54
1.94
1.57
1.94
3.01
1.93
2.59
1.95
1.57
1.94
3.01
1.93
2.59
1.92
1.56
1.94
3.01
1.93
2.59
1.92
1.56
1.95
3.01
1.94
2.59
1.91
1.58
1.96
2.99
1.97
2.62
1.86
1.58
375, 872 231,737
360,210 226,315
15, 662
5,422
199,198
192,375
6,823
517, 369
476, 792
40,577
256,858
238, 515
18, 343
245, 731
232,625
13,106
380,592
362,418
18,174
236, 622
229,968
6,654
273,902
265, 814
8,089
1.92
3.01
1.90
2.54
1.94
1.53
57.0
57.2
55.0
53.8
54.1
51.4
51.5
54.0
56.7
56.5
55.9
53.2
45.04
133. 90
21.22
29.36
95.86
170.32
21.40
43.39
130.45
19.91
27.61
93.68
167.16
20.21
43.82
130.17
20.17
29.01
93.24
165. 43
21.06
41.21
121.68
19.37
27.54
87.07
154. 20
19.94
41.60
122. 52
19.56
28.03
87.66
154.86
20.46
40.74
119.10
18.66
28.48
85.41
150.17
20.65
39.73
116.44
17.30
28.25
84.71
149.00
20.42
40.95
121. 57
17.61
28.11
88.29
156. 09
20.48
43.01
127. 57
18.48
29.60
92.24
162. 57
21.92
4.2.99
126.67
18.50
30.19
91.32
160.33
22.36
42.90
127.35
18.62
29.28
90.91
160.08
21.74
41.26
121.18
17.65
28.54
87.37
153.71
21.04
86.7
86.6
90.6
88.2
92.3
73.6
84.9
84.9
89.4
85.6
90.6
70.0
85.0
84.7
88.9
85.4
91.1
73.4
80.1
79.4
82.5
80.3
87.1
70.0
80.3
79.6
82.7
80.4
87.1
70.6
77.9
77.3
79.8
76.8
83.1
71.2
77. 1
77. 3
79.6
74. 8
78. 9
70. 7
79.5
79.7
83.9
76.7
81.6
70.9
83.2
84.2
88.4
80.2
81.8
73.8
83.2
84.3
88.0
81.2
81.0
74.4
83.6
84.8
87.8
82.9
81.3
72.6
80.4
81.6
82.2
79.0
78.5
70.3
92.4
92.7
92.9
89.3
85.1
82. 9
84.6
89.0
88.4
87.6
84.9
106.7
107.2
108.1
102.9
103.6
101.9
102. 3
105.9
111.9
115.4
115.6
114.0
876,452 706,231 I 613,194 I 403,344
37,022 j 33,003 I 26,545 I 18,555
383,348
19,169
416, 674
20,217
384,462
17,618
411,012
18, 052
611, 464
29,073
415,088
22, 087
512, 750
24, 682
493, 570
24, 720
763,481
29,040
596,806 I 519,360 \ 336,505
23,744
20,064
13,481
318, 750
13, 688
347, 710
15, 356
323,885
13,194
350,146 I 522, 475
13,740 i 22, 226
346, 227
15,858
426, 839
18, 021
413,151
18, 508
8,971
10,111
11,178
17, 871
10,875
13. 545
13,137
20.893 ' 18,400 i 13,295
9, 661
X Partially tax-exempt bonds.
tRevised series. For data beginning 1931 on Treasury bond prices, which relate to partially tax-exempt bonds, see table 55, p. 17 of the December 1940 Survey. Earlier
data
FRASER for the revised series on bond and stock prices compiled by Standard and Poor's Corporation are shown, respectively, in table 36, p. 19, and table 37, pp. 20-21, of this issue.
Digitized for
S-19
SURVEY OF CURRENT BUSINESS
January 1942
Monthly statistics through December 1939, to- 1 9 4 1
1940
gether with explanatory notes and references
to the sources of the data, may be found in the Novem- Novem- Decem1940 Supplement to the Survey
ber
ber
ber
1941
January
February
March
April
May
June
July
August September
October
FINANCE—Continued
SECURITY MARKETS—Continued
Stocks—Continued
Shares listed, N. Y. S. E.:
Market value, all listed shares
mil. of dol._ 37,882
Number of shares listed
millions. _ 1,464
Yields:
6.8
Common stocks (200), Moody's
percent _.
5.2
Banks (15 stocks)
do
6.9
Industrials (125 stocks)
do
4.1
Insurance (10 stocks)
do
6.9
Public utilities (25 stocks)
__do
Rails (25 stocks)
.do
Preferred stocks, high-grade (15 stocks),
Standard and Poor's Corp.f
percent..
4.11
41, 848
1,457
41, 891
1,455
40, 280
1,455
39,398
1,455
39, 696
1,457
37, 711
1,463
37,815
1,463
39,608
1,463
41,654
1,463
41,472
1,464
40, 984
1,463
39,057
1,465
5.6
4.3
5.7
4.1
6.0
5.8
5.7
4.3
5.7
4.2
5.9
6.2
5.9
4.4
6.0
4.2
6.0
6.2
6.0
4.5
6.2
4.3
6.1
6.2
6.1
4.5
6.2
4.2
6.2
6.2
6.4
4.8
6.6
4.4
6.7
6. 3
6.4
4.9
6.5
4.3
6.8
6.5
6.1
4.5
6.2
4.2
6.5
6.4
5.8
4.5
5.8
4.0
6.4
5.9
5.9
4.6
5.9
3.9
6.4
6.0
5.9
4.6
5.9
3.9
6.5
6.3
6.3
5.0
6.4
4.1
6.6
6.5
4.08
3.97
3.94
4.05
4.08
4.15
4.15
4.05
4.04
4.07
Stockholders (Common Stock)
American Tel. & Tel. Co., total
number..
Foreign
do
Pennsylvania R. R. Co., total
do
Foreign
do
U. S. Steel Corporation, total
do
Foreign
do
Shares held by brokers
percent of total,.
630,956
5,609
206,050
1,581
164,785
2,605
25.30
630, 366
5,742
204, 776
630, 812
6,404
205, 883
2,724
160, 676
2,749
27.37
164, 687
2,664
26.00
632, 293
5,481
205, 724
1,535
164, 262
2,590
25. 00
FOREIGN TRADE
INDEXES•
Exports:
Total: Value, unadjusted
1923-25=100.
Value, adjusted
do...
U. S. merchandise, unadjusted:
Quantity
do...
Value
do--_
Unit value
do.. .
Imports:
Total: Value, unadjusted
do...
Value, adjusted
do...
Imports for consumption, unadjusted:
Quantity
1923-25=100.
Value
do--.
Unit value
do - . .
Agricultural products, quantity:
Exports, domestic, total.-f
Unadjusted
1924-29=100.
Adjusted
do...
Total, excluding cotton:
Unadjusted
do.-_
Adjusted
.
do...
Imports for consumption:*
Unadjusted
do...
Adjusted
do.-.
86
75
85
80
86
84
80
88
94
93
102
107
101
108
87
98
94
107
120
130
no
127
86
68
126
85
67
124
85
69
117
80
68
138
94
68
145
101
70
147
101
69
122
87
71
130
94
72
158
118
75
145
109
75
69
69
78
79
71
70
72
73
83
75
89
82
92
90
87
91
86
93
87
91
81
86
120
68
57
130
75
57
120
70
58
118
68
58
133
80
60
143
86
60
142
88
62
130
82
63
132
83
63
135
86
64
149
83
65
25
19
23
18
17
16
20
22
24
27
23
28
29
37
31
41
39
54
36
46
52
48
29
25
29
25
26
25
30
33
33
36
34
40
45
56
49
60
68
86
58
66
75
70
122
129
131
131
137
132
135
131
141
125
147
136
154
159
127
138
120
136
120
131
99
107
105
VALUE •
Exports, total, incl. reexports
thous. of dol
327, 685 322, 257 325, 355 303, 413 357, 233 385, 454 384, 636 329, 776 358,649 455, 257 417,139
By grand divisions and countries:
19, 954 35,121
28, 354 36, 925 20, 904 39,434 58,134 29, 275
16, 945 16, 624 22,047
Africa
do...
Union of South Africa
do...
5,726 10,709 26,942
9,958
15, 770 16, 030 15,558
12,076
11, 038 11,806
11,827
Asia and Oceania
do...
55,894 60, 405 54, 876 59,498 64, 753 64,092 71,078 52,350 43,627 64, 788 54,919
British India
do
4,055
5,575 12, 345
8,422
7,389
9,154
10, 868
6,515
6,459
8,780
6,863
Japan. . . .
do I
5,687
3,346
1,662
6,621
8,419
10,112
16, 443 19, 343 11, 588 11,108
(a)
Netherlands Indies
do
j
10, 287
7,116
10, 104 12, 350
9,845
7,955
7,722
7,596
5, 987
6,184
6,319
Europe
do..
118,695 116,329 126, 772 96,336 113, 233 145,964 110,409 111,478 139, 327 143, 981 162,049
United Kingdom
do..
102, 375 101, 253 116, 631 77, 269 95, 509 127, 623 103, 228 103,108 128, 771 129,372 143, 229
North America, northern
_._do..
65, 609 63, 266 62, 449 65, 233 69,898 72,137 81,165 75, 333 69,401 ' 100, 855 89,167
Canada
.do..
64, 262 62, 439 61,886 64, 419 68, 616 70, 813 79,611 74, 307 68,076 98, 776 87,235
North America, southern
do..
33, 792 33.807 30,022 33,010 37, 200 38, 226 42,071 35, 708 29,926 46,020 38, 765
Mexico
do..
8,337 14,324 12,330
13, 770 12, 597
9,824 11, 745 13,193
9,772
10, 554
8,507
South America
do._
36,935 41,493 42,963
36, 749 31, 824 29,188 29, 381 37,028 36, 681 42,989 34,003
Argentina.
_
.do..
6,755
9,568
9,123
9,975
7,698
5,858
6,400
5,223
5,920
4,734
5,300
Brazil...
_do._
8,699
9,709 10,971
11, 306
10, 505 13,177
8,843 11,992
10,807 10, 046
9,216
Chile
do..
3,978
3,752
4,915
4,152
4,214
4,107
4,463
3,249
4,081
3,360
2,955
U.S. merchandise, by economic classes:
Total
thous. of dol
321, 275 315,323 317,953 298, 273 350,446 376,185 376,354 323, 728 348,890 438, 264 406,057
Crude materials
.do..
24, 600 20,453
16, 092 15, 234 19. 658 16,857 28,647 29,034 29,824 30, 393 39,813
Cotton, unmanufactured
....do-.
4,716
4,516
5,843
15,052
4,389
4,380
5,862
3,800
7,703
6,417
3,120
Foodstuffs, total
do..
16, 793 18, 269 25, 323 33,173 45, 763 42, 264 51,099
16,010
14, 650 13, 719 13,746
Crude foodstuffs.
do..
5,368
7,291
6,758 10, 380
8,388
3,963
4, 262
2,841
3,603
3,488
2,887
Mfd. foodstuffs and beverages d o . .
12, 531 14, 306 16,935 27,805 38,472 35, 506 40, 719
11,047
10, 231 10, 859 13,169
Fruits and preparations
do__
2,117
3,240
3,554
5,952
3,262
1,768
1,933
2,098
1,974
2,638
1,944
Meats and fats
do...
2,472 11, 254 17, 324 15, 899 16,302
3,241
3,317
2,495
1,859
1,837
2,048
Wheat and
flour
do..
2,573
2,048
3,054
4,609
3,923
3,979
3,030
2,103
2,703
1,686
1,530
Semimanufactures..
do..
53,279 67, 587 61, 296
56,973 60, 644 67, 004 55,136 51,019
70, 651 67,154 69,989
Finished manufactures
...do...
211, 373 213,997 218,126 210, 056 254, 206 274, 054 267, 248 210, 501 220,025 298,019 253,849
Automobiles and parts
do...
17, 522 25, 306 22, 520
26, 828 24, 470 25, 379 24, 028 29,084 28, 642 30, 511 21,474
Gasoline
...do__.
4,313
3,244
5,213
7,915
3,394
2,732
3,733
4,250
8,320
6,615
6,101
Machinery
do...
62,873
63, 327 60, 993 54, 426 61, 604 63, 751 59, 631 45,437 45, 510 64, 438 54,208
General imports, total.
do...
223,430 253,099 228, 636 233, 702 267, 784 287, 550 296,930 279, 536 277, 847 282, 513 262,680
By grand divisions and countries:
Africa
do..
11, 593 12, 345 14,075 11,416
8,739
13, 663 10, 203
13,191
10, 835
13, 558 14,446
Union of South Africa
do..
2,856
5, 638
6,814
4,827
4,418
4,277
3,628
3,890
2,960
4,479
3,515
Asia and Oceania
._
do...
93, 250 105, 823 91,417 89, 698 106, 303 97, 837 115, 240 102,530 118,665 108,871 96, 589
British India
do...
10,613
11, 544 13, 695
9,129
8,095
8,926
6,172
10, 680
7,037
7,122
6,314
Japan
...do...
8,835
2,535
10, 488 11,020 10,869 13,000
8,127
21, 676 14,033
10, 391
573
Netherlands Indies
do...
13,040
19, 387 15, 212 13, 738 14, 494 14, 504 21, 630 17, 324 23, 392 27, 967 14, 862
Europe
do...
17, 941 26,100 35, 793 23, 355 24, 506 23, 548 18,825 22, 272
24, 600 26,187 20,119
United Kingdom.
do...
9,797 11, 392 12,424 11,170
9,576
9,443 12, 583 15,049
10, 428 13, 610
9,742
North America, northern
do...
49, 506 49,314 46, 558 56,484 50,890
44,122 43, 619 36, 586 35, 428 38, 592 40,189
Canada
do
42, 533 41,913
35.486 34, 287 37, 834 39, 357 48,192 48,156 44,585 53,935 49,458
»• Revised.
• Less than $500.
t Revised series. Revised data beginning February 1928 for preferred stocks are shown in table 39, p. 22, of this issue. Indexes of agricultural exports have been
revised to new base. Earlier monthly data will be shown in a subsequent issue.
* New series. Data beginning 1915 for indexes of agricultural imports will be shown in a subsequent issue.
• Because of the emergency, foreign trade statistics are not now being published, effective with October data. For revised 1939 data on value of foreign trade see tables
14 and 15, pp. 17 and 18 of the April 1941 issue.
S-20
SURVEY OF CURRENT BUSINESS
Monthly statistics through December 1939, to- 1941
1940
gether with explanatory notes and references
to the sources of the data, may be found in the Novem- Novem- December
ber
1940 Supplement to the Survey
ber
January 1942
1941
January
February
March
April
May
June
July
August
ber
FOREIGN TRADE—Continued
VALUE §—Continued
General imports by grand divisions and countries—Continued.
North America, southern
thous. of doL.
Mexico
do
South America
do
Argentina,
....do
Brazil
do.__.
Chile
do—_
Imports for consumption, total.
do
By economic classes:
Crude materials.
do
Crude foodstuffs
...do
Mfd. foodstuffs and beverages
do
Semimanufactures..
do
Finished manufactures.
do
14,884
15, 782 24,474
28, 072 33,948
39, 787 38,706
35,445
31, 554 32, 627 33, 532
4,811
8, 365
7,428
5,769
7,743
7,516
8,936
9,237
6,945
7,702
7, 311
33, 383 48,024
56,048
56,
325
46,837
53,825
51,246
61, 597
43,964
51, 259 48, 561
6,902
16, 713 13, 364 13, 649 14, 756
11. 732 12,624
15, 718 14,437
11,613
11,186
9,340
17,167
11,771
12, 711 11,644
15,383
13,295
15,944
10, 307
9,959
10, 257
4,435
8,200
5,730
6,709
4,999
9,139
7,917
10,848
9,462
8,790
12,107
217,175 238, 275 223, 595 216,623 254, 553 274, 593 281,351 261,097 264, 685 273, 898 265,162
93,838
22,695
22,444
44, 383
33,816
110,375
25,931
19,435
52,009
30,524
97,633
30, 291
20, 552
47,131
27, 988
91,805
31,211
22.940
42,208
28,458
106,674
32,892
26,652
57, 936
30, 399
103,437 116, 777 110, 609 119, 260 126, 480 117,024
36,418
31, 988 22. 886 24, 472 16,992
36,621
34, 370 28,082
33,125
24, 320 22, 975 25, 499
54, 553 62, 248 63, 989 70,257
66, 377 57,862
35, 925 35,864
35,032
35, 971 35, 982 35,389
TRANSPORTATION AND COMMUNICATIONS
TRANSPORTATION
Express Operations
10,542
12,70]
10,032
9,961
10,536
10,814
10,839
11,238
10,874
Operating revenue
.thous. of doL.
10, 926 11,942
67
82
95
72
68
74
153
78
78
78
Operating income.__
do
Local Transit Lines
7.8005
7.8253
7.8253
7.8253
7. 8253 7.8199
7.8199
7.8061
7.8144
7. 8144 7. 8144 7. 8005 7. 8005
Fares, average, cash ratef
- cents.. 859,
364 801,646 860, 704 837, 903 777, 294 864,644 847,071 856,239 831,816 796.105 802. 396 832,220 895, 539
58,489
62, 623 59, 579 56, 220 61,192
Passengers carriedf
thousands..
62, 347 59, 547 58, 576 59, 342 60,715
61,427
65, 563
Operating revenues
thous. of doL.
Class I Steam Railways
141
122
120
112
136
144
Freight carloadings (Federal Reserve indexes) :f
145
113
115
108
138
131
140
135
121
132
121
131
Combined index, unadjusted—1935-39=100..
124
129
38
127
117
139
140
138
168
159
175
167
170
Coal
do
174
183
120
172
167
167
172
165
143
129
127
119
141
Coke.
-__do___.
124
128
130
149
135
160
149
147
115
96
87
123
Forest products
do
90
85
163
97
96
107
125
122
104
117
124
92
Grains and grain products
do
84
75
69
70
74
82
82
80
111
146
101
98
95
Livestock
do
94
98
101
99
101
102
99
102
101
103
199
145
46
Merchandise, 1. c. 1
_..
-do
45
45
265
283
276
271
50
203
261
232
150
125
116
Ore
do
115
118
141
139
138
141
124
131
150
151
135
116
119
Miscellaneous
do
122
124
139
138
135
139
126
130
127
112
121
109
107
Combined index, adjusted
do
109
113
156
150
138
158
128
45
133
121
159
150
153
CoaL
do
145
149
189
200
182
199
168
176
165
137
146
131
133
Coke
do
138
133
136
149
130
152
127
130
138
140
118
98
96
Forest products
do
102
102
126
112
124
103
113
113
111
97
93
98
96
Grains and grain products
do
88
93
83
84
88
93
91
84
95
93
99
97
99
Livestock
_.do
98
101
100
99
102
100
102
102
97
97
204
181
164
Merchandise, 1. c. 1
do
180
181
156
155
152
102
266
149
178
266
144
120
125
Ore
.do
130
131
140
141
139
128
136
130
135
133
Miscellaneous
do
Freight-car loadings (A. A. R.):1
4,318
3,658
3,539
3,510
4,464
3,413
2,824
3,818
2,794
4,161
2,737
2,718
3,780
790
Total cars
thousands..
642
605
163
578
818
840
652
675
577
676
560
695
64
Coal
do
56
54
53
66
53
70
38
64
52
53
50
61
214
Coke
--do
154
175
144
174
248
159
176
184
197
205
141
193
194
Forest products
..do
116
123
172
224
167
149
136
230
172
118
166
184
82
Grains and grain products
do
41
39
52
38
55
59
82
47
46
57
50
86
768
Livestock
do
597
784
618
641
638
603
569
648
578
752
797
795
277
Merchandise, 1. c. 1
do
51
214
301
313
386
286
271
50
69
387
49
'214
1,929
Ore
do
1,390
1,490
1,425
1,861
1,174
1,204
1,643
1,171
1,614
1,529
1,603
1,792
61
M iscellaneous
do
190
47
110
87
71
67
71
41
42
72
96
129
28
Freight-car surplus, totalt
do
32
19
15
18
43
26
31
34
27
34
33
45
18
Boxcarst
do
31
11
42
23
139
17
20
10
10
17
42
57
Coalcarst
do
457,012 375, 499 381, 792 377, 374 358, 413 416,319 375, 008 442, 286 455,023 485,446 493,674 488,979 517,605
Financial operations:
Operating revenues, total
thous. of doL. 385,241 315, 234 308, 350 309, 580 296,146 346, 633 305, 230 370,903 377,534 405, 503 410,213 411,241 440,122
40,519
31, 244 40, 840 40,159
Freight
._
..do
44,832 47,402 49, 773 43, 521 42, 231
36, 511 40, 030 38, 348 37,493
335, 614 259, 518 266,134 268,969 255, 590 283,329 274, 938 296,590 298,932 310,035 313, 843 312,287 361, 502
Passenger
do
52, 633 ' 44. 421 36. 867 46,048
Operating expenses
do
62,829
69,097 68, 513 72,622
44, 344 52, 363 47, 501 57,065
62,446
r
68,765
Taxes, Joint facility and equip, rents*.-do
71, 560 78, 791 62, 357 58, 479 80, 627 52, 569 88,630 93,261 106, 315 111,318 p104,070
93, 657
30,064
35, 256
Net railway operating income
do
30,809
19, 705 14,964
52,800 63, 528 65,500 59,324 r 53, 676
7,264
51,078
43,137
Net income
do
46.067 49, 237 47, 616 51,135
35, 949 34,904
Operating results:
36, 063 34,182 40, 577 31,615
43, 398 44,036
.953
.949
.885
.927
.947
Freight carried 1 mile
mil. of tons..
.899
.929
1.052
.932
.902
.928
2,527
2,312
1,772
2,216
2,564
2,229
2,756
Revenue per ton-mile.
cents..
2,029
2,170
2,140
2,936
Passengers carried 1 mile
-millions._
452.6
464.1
402.4
400.8
485.4
379.0
389.3
417.0
382.1
473.5
470.9
438.6
Financial operations, adjusted:*
333.3
314.3
320.7
344.5
309.6
398.2
395.1
407.7
365.2
Operating revenues, total.
mil. of dol..
332 5
389.5
375.9
37.6
34.9
38.6
42.7
41.4
40.9
42.3
44.4
41.6
44.1
Freight.
do
40.1
43.3
315.8
315.9
334.2
323.2
345.6
370.5
311.7
Passenger
-do
318.6
363.4
374.4
379.4
403.2
84.0
73.4
82.9
59.0
93.0
100.4
67.3
Railway expenses
do
110.1
83.8
111.0
84.7
49.4
42.8
32.1
40.8
17.1
50.4
24.9
Net railway operating income
do
68.2
42.8
57.6
42.5
65.5
Net income
do
Canals:
Waterway Traffic
700
599
557
507
0
610
624
New York State
thous. of short tons..
0
0
0
720
250
2,062
1,966
1,989
1,585
2,129
1,911
1,659
1,366
1,827
Panama, total.
thous. of long tons.. 1,546
2,057
1,481
1,719
818
1,102
1,133
1,127
1,134
1,027
818
968
1,080
887
910
719
882
In U. S. vessels
do
774
944
948
0
900
975
893
13
0
0
308
1,001
1,043
St. Lawrence
thous. of short tons..
12,223
15,153
704
0
0
0
7,865
14,673
15, 511 15, 235 14,401
13,923
8,642
Sault Ste. Marie
do
1,466
1,716
664
1,895
1,960
0
0
1,858
1,529
210
0
1,620
1,688
Welland.
-do
Rivers:
332
230
352
326
211
215
213
307
186
310
320
330
187
Allegheny
_._
do
265
142
115
105
127
159
214
250
270
100
210
Mississippi (Government barges only).do
2,206
2,492
2,863
2,792
2,532
563
2,862
3,105
2,810
2,907
2,971
2,833
2,969
Monongahela
do
1,374
1,424
653
1,781
1,468
1,785
1,771
1,581
1,587
1,727
1,691
1,759
1,545
Ohio (Pittsburgh district)
do
' Revised.
§ See note marked " • " on p. S-19.
1 Data for November 1940, March, May, August, and November 1941, are for 5 weeks; other months, 4 weeks.
*New series. Adjusted data onfinancialoperations of railways beginning 1921 appear in table 33, p. 16 of the September 1940 issue. The new series on taxes and joint
facility and equipment rents is shown to providefiguresfor obtaining total railway expenses as given in the adjustedfiguresoffinancialoperations; earlier data not shown in
the September 1940 and subsequent issues of the Survey may be obtained by deducting operating expenses and net railway operating income from operating revenues.
f Revised series. Data on fares revised beginning August 1936; see p. 45 of the July 1940 Survey. Passengers carried revised beginning January 1938; see table 13, p. 18
of the March 1941 Survey. Revised indexes of freight carloadings beginning 1919 appear in table 23, pp. 21-22 of the August 1941 Survey.
^Beginning June 1941, data represent daily average for week ended on the last Saturday of the month; earlier data, daily average for»r 1last 8 or 9 days of the month.
S-21
SURVEY OF CURRENT BUSINESS
January 1942
Monthly statistics through December 1939, to- 1941
1940
gether with explanatory notes and references
to the sources of the data, may be found in the Novem- Novem- December
1940 Supplement to the Survey
ber
ber
1941
January
February
March
April
May
June
July
SepAugust tember
October
TRANSPORTATION AND COMMUNICATIONS—Continued
TRANSPORTATION—Continued
Waterway Traffic—Continued
Clearances, vessels in foreign trade:
Total, U. S. ports
thous. of net tonsForeign
do
United States
do...
Travel
Operations on scheduled air lines:
Miles
flown
thous. of miles. Express carried
.pounds..
Passengers carried
number. .
Passenger-miles
flown
.thous. of miles..
Hotels:
Average sale per occupied room
dollars..
Rooms occupied
percent of total..
Restaurant sales index...
1929=100..
Foreign travel:
XJ. S. citizens, arrivals
.number..
U. S. citizens, departures
do....
Emigrants
..do
Immigrants
-do—
Passports issued
..do—
National parks:
Visitors
do.-.
Automobiles
do—
Pullman Co.:
Revenue passenger-miles
thousands..
Passenger revenues
thous. of dol_.
COMMUNICATIONS
Telephone carriers:
Operating revenues
thous. of dol..
Station revenues
do
Tolls, message.
do
Operating expenses
do
Net operating income
do
Phones in service, end of month..thousands..
Telegraph and cable carriers:!
Operating revenues, totalt
thous. of dol..
Telegraph carriers, total
do
Western Union Telegraph Co., revenues
from cable operations
thous. of dol..
Cable carriers
.do
Operating expenses!
do—
Operating incomet
do
Net incometdo
Radiotelegraph carriers, operating revenues
thous. of doL.
5,040
3,376
1,664
3,840
2,544
1,296
3,839
2,653
1,186
2,319
1,317
3,981
2,532
1,449
4,606
2,902
1,704
5,729
3,579
2,149
6,074
3,957
2,117
6,716
4,584
2,132
6,646
4,418
2,229
6,011
3, 978
2, 033
6, 072
4,040
2,031
12,127
11,472
12,154
12, 472
12, 200
9,673
9,142
8,890
8,786
9,953
10,537
11,668
1,205,261 1,323,615 1,113,002 1,109,352 1,214,817 1,352,181 1,462,121 1,544,111 1,822,217 1,842,858 1,962,284 1,760,770
239,858 202,859 197,854 218,163 245,924 308,644 363,954 380, 990 398, 434 447, 316 455, 647 420, 393
90,697
78,387
78,340
84,640
96,662 114,749 133,979 141,906 147,419 158, 068 158,151 150,920
3.61
69
114
3.47
64
103
3.26
57
95
3.24
69
97
3.32
69
99
3.24
68
94
3.47
69
109
3.13
70
106
3.30
66
108
3.29
64
103
3.56
68
115
3.52
69
109
3. 55
71
108
8,546
6,862
1,648
3,833
1,503
13,148
7,626
1,777
3,765
1,820
16,244
7,868
1,681
3,612
2,511
19,818
19,726
920
3,133
194§
23,933
32,746
1,216
4,500
2,897
15,958
18, 779
1,416
4,813
3,015
12,409
9,502
1,524
4,268
4,362
13,203
17, 277
1,676
6,002
4,878
13,491
10, 739
853
3,083
5,673
14,613
13, 718
729
3,359
5,734
11,328
11,807
612
3,911
4, 687
11,668
9,942
714
2.188
4,331
92,746
28,997
60,475
18,335
83,296
23,544
100, 237 115,911
27,925
33,521
190,150
58,916
327,550
100,230
578, 071 1,029,648 1,112,293
173,139 292,273 302,025
578,257
3,738
734,016
4,646
879,883
5,529
925,694
5,621
766,222
4,787
714,012
4,389
897,614
5,145
110,544
72,118
29,343
77,106
17,933
19,547
114, 761 114,684 111, 219 116,883 118,132 119,933 120,113 120,116 119, 224 121,259 124. 000
73,979
74,214
74, 236 76,470
74,585
75, 524 74,858
78. 700
72,752
75,598
75,709
31,471
31,077
32,975
35, 072 35, 543 35, 266 35, 029 35. 368
29,250
33,238
34,783
75,650
73,934 r 70,648 r 73, 403 75,390 r 77,576
76, 626 80, 329 77,934
79,159 82. 052
21,9»8 ' 19, 370 19, 375 20,986 <• 20,639 20,164 r 21,037 * 18, 554 r 19, 553 20,477 28. 768
19,670
19,966
20,107
20,443
20, 232 20,366
20, 535 20, 657 20,817 20. 954
19,833
791,221
4,974
430,608 253,489
132. 359 78,112
825. 839 850, 348 797.408
5,074
4,880
4,857
840,925
5,138
10, 642
9,872
12,557
11, 654
11,182
10,294
10,667
11,961
10,982
12,430
11, 473
12,850
11,830
12, 728
11, 731
12, 875
11, 734
12, 674
11,616
12, 555
11,461
12. 566
11. 493
424
770
9,498
465
d
38
540
903
10,586
1,291
872
494
888
9,821
614
451
835
9,290
667
202
525
980
9,884
1,303
510
957
10,298
1,359
879
514
1,020
10,691
1,330
873
49S
997
10, 516
637
267
551
1,141
10, 965
966
513
1,058
10, 758
1,065
568
518
1,094
10, 830
782
401
553
1.073
10. 809
784
316
1,179
1,348
1,290
1,253
1,399
1,348
1,354
1,337
1,386
1,264
1, 205
• 1,316
CHEMICALS AND ALLIED PRODUCTS
CHEMICALS
Alcohol, denatured:
Consumption.
thous. of wine gal..
Production
do
Stocks, end of month....
do
Alcohol, ethyl:
Production.
thous. of proof gal.
Stocks, warehoused, end of month
do
Withdrawn for denaturing.
do
Withdrawn, tax-paid
do....
Methanol:
Exports, refined.
gallons..
Price, refined, wholesale (N.Y.).dol. per gal..
Production:
Crude (wood distilled)
thous. of gal..
Synthetic
do....
Explosives, shipments..
thous. of lb_.
Sulphur production (quarterly):
Louisiana
long tons..
Texas
do....
Sulphuric acid (fertilizer manufacturers):
Consumed in production of fertilizer
short tons..
Price, wholesale, 66°, at works
dol. per short ton..
Production.
short tons..
Purchases:
From fertilizer manufacturers.
do
From others
do
Shipments:
To fertilizer manufacturers
do
To others
do
16,977 ' 13, 540
16,965 ' 13,154
724
1,586
12,441
12, 215
1,360
10,499
10,610
1,468
10, 558
10, 556
1,465
13, 339
13,192
1,313
12,451
12, 654
1,511
14,889
14, 714
1,329
15, 614
15, 387
1,095
15, 035
15, 242
1,293
15, 264
15,065
1,089
17,100
16, 908
861
18,302
18,185
740
37, 541 r 23,347
8,038 r 10,018
30,371 ' 23,140
2,505
2,959
23,762
9,503
22,056
2,128
24,224
11,963
19, 434
1,742
22,030
12,166
19,070
1,766
21, 702
11,127
23, 705
2,735
26, 248
11,330
22, 789
2,449
29,606
10,000
26, 526
3,012
32, 224
10,393
27,830
3,224
33,021
7,108
27, 564
2,838
34, 299
10,117
27, 327
3,071
35, 757
6, 491
30,433
3,435
36, 393
7.143
22,604
2,555
14, 283 102, 711
.34
.34
94,467
.34
61,831
.34
48, 580
.34
16,668
.39
21, 605
.44
7,545
.44
9,340
.44
450
3,882
36,080
455
4,174
35, 722
463
4,241
31,986
466
4,423
37,891
436
4,663
39,460
417
4,725
41, 273
450
5,006
41, 363
191, 739 267,077
.34
.34
37, 486
468
4,440
34,444
484
3,913
33, 461
435
3,618
33, 631
103,675
567,698
179,677
16.50
178,193
16.50
16.50
216, 290 223,131
138,880
547, 686
184,149
130, 090
577,384
162,306
177,376
156,362
176,465
162,334
175,186
163,108
16.50
16.50
221, 788 226,069
16.50
234,026
16.50
218,846
16.50
217,063
16.50
208,884
16.50
202, 597
16.50
212, 506
33,220
36,184
22,941
32, 732
32, 570
38,659
26,343
25,650
25,309
33,008
23,215
30, 922
39,140
32, 714
29,366
35,488
24,411
48, 587
23,050
37, 331
43,014
57,475
110, 939
36,377
74,927
100, 246
36,116
81,591
91,407
37,311
69, 514
100,338
39,082
78,095
98,151
53,429
67,387
93,956
52, 535
75,117
78,756
43,311
69,304
77,645
33, 319
69,285
75, 350
37,670
75, 664
71, 795
FERTILIZERS
Consumption, Southern States
thous. of short tons..
186
105
182
518
762
1,365
1,390
104
258
Exports, total§
long tons..
116,416 136, 581 109, 654 94,316
90, 255
74, 715
66,651
81,971
Nitrogenous§.
do
15,891
16,486
9,336
11,031
10,674
16, 748
11,688
6,014
Phosphate materials§
do
88,409 112,063
76,333
87,698
74,162
49,481
48, 265
74,082
Prepared fertilizers
...do
428
330
465
498
686
1,580
2,311
317
Imports, total§
do
63,852
59,769
87,115
95,474 152,323 120, 330
74,439
99,673
Nitrogenous, total
do
56, 362 50, 245 81,085
92,203 134, 290 106,737
62,840
70,036
Nitrate of soda
do
28,478
27, 718 34,332 40,254
84,337
89,565
42,134
27, 341
Phosphates
..do
637
234
2,112
353
1,086
3,551
303
1,194
Potash§..
do
5,625
7,911
2,765
1,436
14,110
1,891
1,512
8,307
'Revised.
• Estimated.
* Deficit.
§Data revised for 1939; for exports, see table 14, p. 17, and for imports, table 15, p . 18, of the April 1941 Survey.
t Revised series. Data for telegraph and cable carriers revised beginning 1934, see table 48, p. 16 of the November 1940 Survey.
58
164, 695
15,675
141, 557
201
33, 638
32, 591
16, 350
25
3
71
295, 885
17, 783
270, 646
407
69,096
67,406
32,148
457
20
Stocks, end of month
do....
43, 676
42,629
129, 365
16.50
134
136,503
13,196
105,919
2,879
118,139
108,759
67,594
780
5,951
168
S-22
SURVEY OF CURRENT BUSINESS
1940
Monthly statistics through December 1939, to- 1941
gether with explanatory notes and references
to the sources of the data, may be found in the Novem- Novem- December
ber
ber
1940 Supplement to the Survey
January 1942
1941
January
February
March
April
May
June
July
August September
October
CHEMICALS AND ALLIED PRODUCTS—Continued
FERTILIZERS—Continued
Price, wholesale, nitrate of soda, 95 percent
(N. Y.)
dol. percwt..
Potash deliveries
short tons..
Superphosphate (bulk):
Production
do
Shipments to consumers
do
Stocks, end of month___
do
1. 503
NAVAL STORES
Rosin, gum:
Price, wholesale " H " (Savannah), bulkf
2.64
dol. per 100 lb_
34, 516
Receipts, net, 3 ports.
...bbl. (5001b.).
297,168
Stocks, 3 ports, end of month
do
Turpentine, gum, spirits of:
.76
Price, wholesale (Savannah)
dol. per gal._
5,999
Receipts, net, 3 ports.
bbl. (50 gal.).
18, 955
Stocks, 3 ports, end of month.
do_._
1.470
54, 544
1.470
40, 614
1.470
51, 502
1.470
29,802
1.470
24, 477
1.470
13, 232
1.470
58,228
1.470
41, 094
398, 341 425,118 408.192 384, 548 435, 675
45, 649
55, 997 110, 438 183, 560
43,192
1,244,655 1,285,408 1,264,881 1,202,767 1,074,842
397, 497
373,846
777,152
419,411
165, 359
770, 723
373,864
68,813
808,741
383,499
52, 317
914, 302
379, 267 364, 505 413, 240
65,150 130, 906 129. 293
978, 014 1,022,410 1,051,966
1.470
35, 536
1.470
48, 882
1.494
39, 943
1.503
56,039
1.87
35, 018
542, 091
1.72
34, 098
561, 241
1.73
17, 906
560, 045
1.65
11,941
542,446
1.78
9,996
523, 594
1.87
19, 337
505,860
1.87
35, 635
490,186
1.88
31,069
483,751
2.13
33,706
461,157
2.45
29, 886
428, 945
2.49
29, 282
419, 979
2.44
24, 526
372, 983
.39
7,793
44, 488
6,986
40, 016
.42
3,027
35,421
.39
2,158
33,906
.39
4,682
23,682
.42
6,358
25, 022
.43
8,198
27, 318
.42
10,064
31, 978
.47
8,482
36,6i:
.67
10,066
34, 339
.76
10, 755
36, 669
.78
10, 942
26, 389
OILS, FATS, AND BYPRODUCTS
Animal, including fish oils (quarterly):J
Animal fats:
291,452
269, 625
337,010
Consumption, factory
thous. of lb_.
,
617, 500
644, 024
Production
do
673,126
623,896
684,475
Stocks, end of quarter
.do
600, 602
Greases:
104,910
98, 639
126,155
Consumption, factory
do
120, 557
126, 613
127, 989
Production
do
134, 313
130,401
116,452
Stocks, end of quarter
do
Shortenings and compounds:
355,698
332, 513
410, 382
Production
do
46,417
53, 741
45,967
Stocks, end of quarter
do
Fish oils:
45, 542
51, 823
54, 554
Consumption, factory
do
15, 846
97, 451
6,271
Production
do
157, 223
199, 462
123, 661
Stocks, end of quarter
do
Vegetable oils, total:
Consumption, crude, factory (quarterly)}:
1,019
1,027
mil.oflb..
12, 685
7,290
11, 246
37, 275
9,318
11, 437
8,758
7,185
11,017
Exports
thous. oflb_.
4,729
57, 672
54,366
82,135
61, 097
51,320
53,087
94, 756
59,559
Imports, total§
do
69, 615
1,300
4,626
4,536
1,625
437
1,239
3,511
1,519
5,466
Paint oils
do
8,557
53, 066
53, 046
77, 599
66, 764
60, 660
50, 081
49, 576
93,237
54, 093
All other vegetable oils§
do
61, 058
1,059
1,183
762
Production (quarterly)X-— .mil. of lb__
Stocks, end of quarter:%
914
660
Crude..
do
637
570
497
Refined
do
Copra:
69,
423
69,
468
64,
550
Consumption, factory (quarterly)% short tons.
20,199
30, 584
18, 672
34, 294
16, 271
27, 606
24, 943
25, 487
26,872
Imports
do
17, 259
34,851
34,
775
28,109
Stocks, end of quarter]: _.
do
Coconut or copra oil:
Consumption, factory:
150, 411
161,405
184,118
Crude (quarterly)%
thous. of lb._
52, 381
61,126
68,904
Refined (quarterly) %
do
1,664
1,381
1,296
1,528
1,280
1,424
1,435
1,468
2,421
In oleomargarine
do
2,474
34,
412
41,155
32,
207
40,
224
22,157
25,831
26,884
28,
273
46, 369
Imports^
do
30, 973
Production (quarterly): %
87, 883
81,054
86, 251
Crude
do
73, 938
90,962
80, 703
Refined
do
Stocks, end of quarter :J
242, 973
176,381
209, 940
Crude
do
14,168
15,064
15, 550
Refined
do
Cottonseed:
-646
544
305
458
560
121
373
586
185
107
77
Consumption (crush)...thous. of short tons__
* 774
225
91
657
361
147
42
679
51
105
18
Receipts at mills
do
844
'
1,168
403
1,276
1,076
617
1,437
190
129
269
131
Stocks at mills end of month
do
Cottonseed cake and meal:
54
138
185
91
31
21
114
53
Exports?
short tons..
255, 608 287, 999 239,375 248,916 201, 822 165, 520 132, 635
86, 386
52, 409
46,186
35,197
Production
do
252,
947
153.
688
215,
358
245,
634
175,
700
356,
670
255,
028
225,744
131,
618
256,
255
165,966
Stocks at mills, end of month
do
Cottonseed oil, crude:
42,461
66, 275
33, 779
26, 242
Production
thous. of lb._ 178,276 205, 588 174,151 179, 475 147, 702 122, 833 102,196
52,541
159, 259 183,925 176,626 176, 425 176, 281 167,195 128, 451
97,103
32,107
29, 742
Stocks, end of month
do
Cottonseed oil, refined:
328, 593
350, 747
402, 720
Consumption, factory (quarterly) J
do
11,626
13,107
13, 450
13,142
11,444
14,650
10, 908
12, 896
10,816
10,131
11,413
In oleomargarine
do
Price, wholesale, summer, yellow, prime
.062
.064
.059
.057
.124
.071
.115
.105
.119
.118
(N. Y.)
dol. per lb_.
76,473
32,828
48, 668
Production
.thous. of lb_. 142, 251 157. 759 168, 517 179, 925 145,105 123, 772 130, 692 97, 773
484,
764
458,335
507,
248
397,
015
273,
448
505,
219
475,
849
422,
443
234,
242
291,722
Stocks, end of month
do
Flaxseed:
1,482
769
1,285
1,223
1,286
1,177
1,139
1,051
Imports
...thous. of bu
Minneapolis:
407
414
742
476
718
643
721
805
8,323
722
Receipts
do—
452
71
133
251
67
139
185
140
297
161
74
Shipments..
do
4,739
3,952
6,232
5,410
4,443
2,743
1,885
2,299
3,864
1,107
Stocks.
-do
3,620
Duluth:
168
61
159
537
193
192
165
348
219
Receipts-.
do
159
220
1
2,042
11
168
416
310
109
207
Shipments
_
do
118
277
434
275
619
381
485
247
Stocks
-do
593
Oil mills (quarterly):
10,083
9,386
Consumption. %
do
10, 228
7,077
3,501
Stocks, end of quarter
do
1.64
1.78
1.75
1.84
1.59
1.93
1.87
1.87
1.92
1.89
Price, wholesale, No. 1 (Mpls.).-dol. per bu..
4,159
2 30, 886
Production (crop estimate)
thous. of bu_. 31, 485
1.80
x
• Less than 500 bushels.
December 1 estimate.
> Revised estimate.
§Data revised for 1939; for exports, see table 14, p. 17, and for imports, table 15, p. 18, of the April Survey.
t Revised series. Wholesale price of eum rosin revised beginning 1919; see table 3, p. 17 of the January 1941 Survey.
tRevisions for quarters of 1940 not shown above will be shown in a subsequent issue.
338, 647
585. 293
504, 968
121,155
124, 006
103,068
327, 615
50, 474
50, 018
83,140
162, 659
788
7, 428
93, 221
1,114
92,107
723
700
300
56, 403
33, 766
30, 413
187,302
73, 983
3,574
44, 695
4,680
70, 444
93, 710
186, 290
16, 994
419
1, 040
669
1,264
1,344
102
180,929
174,385
294, 821
291, 815
129, 499
79, 584
208, 538
133, 228
317, 273
12, 525
13, 708
.136
63,536
178, 724
. 129
143, 761
203,544
1,853
3,682
412
4,773
1,777
120
4,714
1,252
319
1,418
1,000
481
1,937
12,175
12, 385
1.99
1.87
S-23
SURVEY OF CURRENT BUSINESS
January 1942
Monthly statistics through December 1939, to- 1941
1940
gether with explanatory notes and references
to the sources of the data, may be found in the Novem- Novem- December
ber
ber
1940 Supplement to the Survey
1941
January
February-
March
April
May
! June
| July
I August SeptemOctober
ber
CHEMICALS AND ALLIED PRODUCTS—Continued
OILS, FATS, AND BYPRODUCTS-Con.
Linseed cake and meal:
Exports§
thous. of lb._
34,360
Shipments from Minneapolis?
do
Linseed oil:
Consumption, factory (quarterly) H
do
.101
Price, wholesale (N. Y.)
dol. per lb__
Production (quarterly)
thous. of lb__
15,750
Shipments from Minneapolis
do
Stocks at factory, end of quarter^
do
Oleomargarine:
32,147
Consumption (tax-paid withdrawals) ©.do
Price, wholesale, standard, uncolored (Chi.140
cago)
dol. per lb_Production©
thous. of lb._ 32, 503
Vegetable shortenings:
.153
Price, wholesale, tierces (Chi.)...dol. per lb .
PAINT SALES
Calcimines, plastic and cold-water paints:
Calcimines
thous. of dol__
Plastic paints
do
Cold-water paints:
In dry form
do
In paste form
do
Paint, varnish, lacquer, and fillers:
Total
do
Classified, totaldo
Industrial
do
Trade
do
Unclassified
do
CELLULOSE PLASTIC PRODUCTS
Nitro-cellulose, sheets, rods, and tubes:
Consumption
thous. of Reproduction
do
Shipmentse?
do
Cellulose-acetate:
Sheets, rods, and tubes:
Consumption
thous. of lb__
Production71
_
_._do
Shipments^
do
Moulding composition:
Production
do
Shipments {
do
ROOFING
Asphalt prepared roofing, shipments:
Total
thous. of squares..
Grit roll
do
Shingles (all types)
do
Smooth roll
do
282
32,440
2
42,920
100, 338
.088
192,185
13, 250 10, 850
153,804
1,512
44,400
34
30,760
.095
14,350
14,950
1,201
2
27,800 30,680
106,787
.099
.107
196, 281
18, 900 ~21~666~
192, 850
813
20,240
.108
20,300
392
22,360
143,100
.108
183,309
21,050
150,936
907
29, 280
.113
24,300
914
32,120
1,740
45,840
141,913
.114
7ll2"
236, 744
21,900
~2l,~500~
161,255
37,400
.108
21,350
30, 854
31,118
33, 835
27, 869
34,328
30, 579
26, 853
25,583
25,909
25,174
33,095
33,932
.115
30,002
.115
32,457
.118
34,030
.120
28,103
.125
33, 880
.130
32,179
.130
27,693
.133
25,083
.140
27,365
.140
24,803
.140
33,124
.140
34,060
.094
.094
.097
.087
140
40
. 124
.133
.143
.145
.153
.156
233
60
202
53
178
51
195
67
178
69
289
513
262
392
246
183
57
224
359
279
462
253
471
35
182
43
301
43
158
273
150
44
138
259
146
294
159
279
202
376
342
55
266
483
30,795
22,819
11,336
11,483
7,976
27, 326
20,472
10,785
9,686
6,854
33,408
24,609
12, 206
12,403
8,799
32, 538
24,013
12,177
11,837
8,525
38, 541
28,245
13,752
14,493
10, 296
50,029
35,160
15, 246
19,914
14,869
56,055
40,636
16,337
24,299
15,419
52,112
37,395
16,688
20,707
14,717
46, 809
33,705
15,872
17,833
13,104
46,807
33, 575
15,868
17,707
13,233
48,354
33,981
15, 071
r
18,910
14,373
49,103
34, 786
16,823
17,962.
14,317
207
1,061
1,131
183
1,109
1,068
185
1,167
1,112
230
1,132
1,145
249
1,308
1,233
217
1,420
1,267
215
1,372
1,315
242
1,387
1,475
229
1,309
1,353
243
1,437
1,510
284
1,479
1,565
252
1,521
1,630
5
934
1,037
867
733
7
617
675
3
344
335
10
465
373
12
402
408
14
524
472
18
513
523
14
507
541
17
573
580
19
585
622
21
630
712
1,606
1,410
1,435
1,317
1,632
1,584
1,879
1,642
2,232
1,991
2,255
2,102
2,319
2,146
2,457
2,264
2,467
2,346
2,670
2,506
2,991
2,813
3,439
3,453
3,006
888
881
1,238
2,163
769
570
824
2,249
888
533
828
2,515
811
690
1,014
3,105
801
1.038
1,266
3,141
806
1,255
1,080
3,753
987
1,564
1,202
3,570
981
1,436
1,153
4,062
1,178
1,549
1,334
3,981
1,157
1,543
1,281
4,146
1,227
1,535
1,385
4,737
1,345
1,724
1, 668
ELECTRIC POWER AND GAS
ELECTRIC POWER
Production, total«
mil. of kw.-hr_.
By source:
Fuel
do
Water power
do
By type of producer:
Privately and municipally owned electric
utilities
mil. of kw.-hr-O ther producers
do
Sales to ultimate customers, totalf (Edison
Electric Institute)
mil. of kw.-hr..
Residential or domestic
do
Rural (distinct rural rates)
do
Commercial and industrial:
Small light and power
do
Large light and power
do
Street and highway lighting
do
Other public authorities
do
Railways and railroads
do
Interdepartmental
do
Revenue from sales to ultimate customersf
(Edison Electric Institute)
thous. of dol._
GAS
Manufactured gas: t
Customers, total
thousands..
Domestie
do
House heating
do
Industr ial and commercial
do
Sales to consumers, total
mil. of cu. ft_Domestic
do
House heating
do
Industrial and commercial
do
Revenue from sales to consumers, total
thous. of doL_
Domestic
do
House heating
do
Industrial and commercial
do
r
14,47;
12, 765
13, 456
13, 641
12, 293
13,095
12,885
13,616
13,671
14,226
14,540
14,348
15,236
10,391
4,087
8,731
4,034
9,057
4,399
9,054
4,587
8,381
3,912
8,706
4,388
8,051
4,834
9,363
4,253
9,614
4,056
9,838
4,388
10, 610
3,930
10, 351
3,997
11,034
• 4,202
13,050
1,428
11,462
1,303
12,119
1,337
12,311
1,330
11,027
1,266
12,061
1,034
11.575
1,309
12,105
1,511
12,173
1,498
12,742
1,484
13,037
1,503
12,874
1,473
13,678
' 1,558
10, 577
2,093
131
10,895
2,222
109
11, 382
2,396
130
10,801
2,195
123
10,895
2,060
117
10, 809
1,990
131
11, 080
1,904
148
11,385
1,909
231
11, 629
1,927
283
12,081
1,969
329
12,122
2,032
297
1,970
5,379
201
237
504
61
2,034
5,448
217
248
551
67
2,126
5,616
215
254
580
65
2,009
5,456
185
251
519
63
1,924
5,750
179
248
553
64
1,927
5,821
160
241
485
54
1,914
6,194
146
243
482
50
1,980
6,385
138
240
461
40
2,045
6,474
140
247
472
41
2,131
6,724
154
259
473
40
2,120
6,747
170
250
467
39
214,161
219,913
228,159
217,629
212,603
210,078
209, 707
215,010
217, 685
223,561
225, 751
10,115
9,367
292
447
33,824
15,623
7,290
10, 699
10,156
9,394
304
448
37,946
15,892
10,801
11,000
10,106
9,350
282
465
37,950
17,312
9,608
10, 791
10,149
9,383
294
463
38,046
16,997
10,095
10, 704
10,119
9,354
280
473
38,025
16,866
9,453
11,457
10,142
9, 362
295
473
35,347
16,297
6,981
11,857
10. 404
9,620
304
468
32,666
16, 615
4,256
11, 596
10, 253
9,481
292
469
30,290
16,887
2,149
11,085
10,284
9,522
283
468
27, 672
15, 510
1,341
10,628
10, 309
9,544
283
470
26, 896
15, 008
1,101
10,631
10, 390
9, 608
307
466
29, 022
16, 633
1,198
11,009
32, 589
21, 569
4,137
6,750
34, 904
21, 629
6,136
6,992
35,157
21,988
6,107
6,918
35,166
21, 247
6,784
6,987
34, 489
20, 851
6,419
7,055
32, 651
20,993
4,399
7,111
31,074
22, 398
2,507
6,941
30,573
22,174
1,632
6,665
28,260
20,697
1,078
6,392
27, 740
20, 319
920
6,391
29,835
21,967
1,114
6,644
Revised.
^Revisions for quarters of 1940 not shown above will be shown in a subsequent issue.
§Data revised for 1939; see table 14. p . 17, of the April 1941 Survey. © D a t a revised beginning July 1939, see note marked with a " J " on p . 40 of the April 1941 Survey
e?1 Includes consumption in reporting company plants. JExcludes consumption in reporting company plants.
• M o n t h l y data for 1920-39, corresponding to averages shown on p . 97 of the 1940 Supplement, appear in table 28, p p . 17 and 18 of the December 1940 Survey; revised
d a t a for all months of 1940 are shown on p . 41 of the June 1941 Survey.
fRevised series. Manufactured gas revised beginning January 1929; earlier data will appear in a subsequent issue. Revised electric-power sales and revenue from sales
beginning 1937 will be shown in a subsequent issue.
S-24
SUKVEY OF CURRENT BUSINESS
Monthly statistics through December 1939, to- 1941
1940
gether with explanatory notes and references
to the sources of the data, may be found in the Novem- Novem- December
1940 Supplement to the Survey
ber
ber
January 1942
1941
January
February
March
April
May
June
July
August SeptemOctober
ber
ELECTRIC POWER AND GAS—Continued
GAS—Continued
Natural gas:f
Customers, total
thousands..
Domestic.
do
Industrial and commercial
do
Sales to consumers, total
mil. of cu, ft..
Domestic
do
Ind'l, com'l, and elec. generation
do
Revenue from sales to consumers, total
thous. of dol..
Domestic
do
Ind'l, com'l, and elec. generation
do
i
7,755
7,158
594
126, 389
34, 047
90, 342
7,804
7,194
608
147, 071
49, 515
95, 516
7,764
7,170
591
151,963
54, 973
95,184
7,773
7,182
589
157, 611
56, 914
98,440
7,824
7,223
599
156, 230
54,887
85,084
7,810
7,216
592
141, 480
43, 690
96, 716
7,829
7,250
576
120, 558
28,971
89, 459
7,802
7,252
548
110, 983
21,124
87, 481
7,848
7,293
552
110, 694
18,357
90,226
7,862
7,316
544
111, 583
16, 876
91,862
7,922
7,374
546
115, 945
17,894
95,357
41,618
22,977
18, 373
51, 838
30, 975
20, 583
56, 464
34, 885
21, 321
57, 356
35,086
21, 920
56, 232
33,907
21, 960
48,911
28, 328
20, 424
39, 030
20, 649
18,101
33, 761
16,372
17,113
32,025
14, 504
17,174
31, 480
13, 573
17, 564
32, 231
13,865
18,045
5.844
5,385
6,126
5,678
9,038
6,554
6,268
9,026
5,913
6,055
8,605
5,291
5,240
8,384
4.989
4,920
8,207
21,201
11,969
1,549
547, 678
30, 667
10, 505
FOODSTUFFS AND TOBACCO
ALCOHOLIC BEVERAGES
Fermented malt liquors:
Production
thous. of bbl
3,842
Tax-paid withdrawals.
do..
4,074
Stocks
...do..
7,783
Distilled spirits:
Production
thous. of tax gal.. 20, 768
Tax-paid withdrawals
do
11,108
Imports
..thous. of proof gal..
Stocks
...thous. of tax gal.. 558, 967
Whisky:
Production.._
..do.
11,828
Tax-paid withdrawals
do.
8,143
Imports..
..thous. of proof gaL.
Stocks
thous. of tax gal
505, 557
Rectified spirits and wines, production, total
thous. of proof gaL.
5,943
Whisky
do..
5,040
Indicated consumption for beverage purposes
All spirits
.thous. of proof gal._
Whisky...
do....
Still wines:
Production
..thous. of wine gal_.
Tax-paid withdrawals
do
Imports
do
Stocks
-.do
Sparkling wines:
Production
do
Tax-paid withdrawals
do
Imports
do
Stocks
do,...
3,397
3,765
7,325
3,612
3,779
6,994
3,903
3,240
7,487
3,697
3,218
7,801
4,466
3,814
15, 760
17,825
8,950
13,134
1,386
1,240
516, 376 522,723
15, 702
6,040
576
530, 863
15,135
6,963
630
536,917
15, 514
8,450
879
541,931
14, 726 14, 732 12, 52 1 11, 075
8,027
9,722
9,28 1
8,992
10,092
1,052
1,535
860
727
855
547,018 549,979 551, 424 551,435 549,275
12,316
11,908
7,323
10, 490
1,270
1,096
473,774 479,102
13,220
5,017
510
486,132
12, 658
5,823
568
491,301
12,643
6,619
812
495, 735
11,860
6,147
991
500,097
6,765
5,863
4,593
3,769
3,119
2,535
3,387
2,838
4,211
3,380
4,399
3,417
5.195
4,224
5,393
4,348
5,415
4,321
5,789
4,807
5,871
4,715
16,856
15, 231
12, 293
10,894
8,056
7,068
9,116
8,108
11, 345
9,547
10. 909
13, 500
11, 632
12, 686
10, 726
12, 248
10,084
13,028
11,017
] 5, 549
13, 561
35, 602 10,147
10, 273 10, 213
257
216
172, 258 163, 774
2,082
6,682
120
157, 724
1,667
6,983
107
156,038
863
7,828
141
143, 256
1,723
8,008
134
135,410
1,365
1,636
2,663
7,124
7,842
7,580
158
125
169
128, 204 117, 893 111,570
9,375
7,018
90
106,377
82
162
45
492
62
39
10
512
63
34
7
539
50
35
6
551
140
39
7
647
73
125
36
5,170
4,557
8,645
12, 025
7,764
9,560
7,531
7,210
6,606
1,448
788
653
503,040 504,081 503,567
151
52
7
744
119
59
6
794
95
61
5
811
6,571
9,424
7,104
9,212
111
1,423
501, 587 499, 503
555, 462
13, 834
7,602
504,041
6,330
5,167
132
68
71
4
817
DAIRY PRODUCTS
Butter:
Consumption, apparentf
thous. of lb_.
154,951 152, 795 r 147,631 143,712 157,594 155,316 179,199 149,586 • 138,530 • 150,700 147, 007
.32
.31
.35
.36
.33
.31
Price, wholesale, 92-score (N. Y.).dol. per lb._
.33
.35
.36
.36
.36
.37
.36
Production, creamery (factory) t thous. oflb._ 115,160 117,722 126, 588 r 135,895 130,635 150,180 164,250 217,985 213,030 ' 196,955 172,500 149, 715 136, 405
45, 580 49,659
56, 582
59, 565
Receipts, 5 markets
do
53,126
62, 342 74, 366 78, 217 73,993 60, 942 55, 666
43,433
53, 025
Stocks, cold storage, creamery, end of month
29, 715
thous. of lb-_ 152, 526
67. 598 41,497
16,462
17, 795 56, 792 120, 246 178,493 200,228 202,957 186, 635
Cheese:
60,056 ' 55, 676 r 58, 055 ' 72, 224 r 74, 250 ' 82, 568 r 70, 289 * 57,130 r 66,496 r 66, 765
59,721
Consumption, apparentf
do
1,922
2,290
1,544
2,114
2,073
2,261
1,871
Imports§
do
2,094
1,437
1,758
1,464
Price, wholesale, No. 1 American (N. Y.)
.18
.18
.17
.19 r .21
.19
.17
.24
.22
dol. per lb..24
.26
.26
r
r
61, 460 ' 71, 070 98, 210 105,610 r 95,100 r 87,510 r 82, 500
50, 695 50,345 r' 49, 720
50,120
Production, total (factory)f
thous. oflb._ 67, 650
78, 300
36, 910 ' 37,120 r 46, 070 r 55, 265 r 78, 860 r 86,165 r 77, 895 ' 71, 520 r 66, 900
35,160
35,945
American whole milkf
do
51,660
62, 240
11,894
15,122
16,139 21, 551 22, 212 15, 634 18, 097
10.894
15,166
14, 648 12, 913
Receipts, 5 markets
do
13, 648
15, 784
Stocks, cold storage, end of month
do
188, 225 136, 574 128,699 125. 308 119,381 109,893 108, 335 119, 718 142, 369 168,420 184,840 188, 337
188,727
97,496
94,602 102,869 121, 064 139,568 151,906 156, 746 157,468
American whole milk
do
157, 993 118, 51G 112, 237 109,820 105,153
Condensed and evaporated milk:
Exports:§
5,020
8,292
3,637
4,235
7,822
3,294
4,347
7,333
7,111
8,865
Condensed (sweetened)
do
6,300
4,162
8,743
6,034
19, 366 43, 383 60,153 40,687 45, 875
4,434
7,773
7,178
E vaporated (unsweetened)
do
Prices, wholesale (N. Y.):
5.00
5.00
5.00
5.00
5.00
5.00
5.00
5.48
5.40
5.80
Condensed (sweetened)
dol. per case__
5.90
5.56
5.40
3.20
3.20
3.10
3.20
3.43
3.20
3.23
3.45
3.60
3.70
E vapqrated (unsweetened)
do
3.85
3.85
3.85
Production, case goods:f
6,998
r 9, 355
6,349
6,384
' 6,530
' 8, 601 r 10.130 r 9, 745 r 9, 923 r 9, 793 ' 8. 017
8,126
Condensed (sweetened)
thous. of lb..
7,999
r
170, 879 167,714 205, 322 252, 692 350,513 331,337 298,120 292,597 282,309 269, 320
Evaporated (unsweetened)
do
258, 203 134,254 148,607
Stocks, manufacturers', case goods, end of mo.:
7,810
7,340
8, 543
7,274
10, 327 10,009
7,228
8,047
9,783
10,494
Condensed (sweetened)
thous. of lb-. 11,906
10,062
11,245
E vaporated (unsweetened)
do
417,116 226, 266 187, 652 189,246 176,624 136,073 126,160 173,838 189, 711 261, 559 289, 904 339, 716 382, 605
Fluid milk:
5,101
6,414
6,227
6.033
5,348
6,016
4,919
5,545
4,627
4,582
Consumption in oleomargarine
do
5,764
6,044
6,049
2.21
2.26
2.32
2.24
2.26
2.26
2.27
2.27
2.29
Price dealers', standard grade.dol. per 100 lb-_
2.40
2.66
2.49
2.60
Production (Minneapolis and St. Paul)
44, 972
28, 784 35, 951 40,605
39, 248
44,477 49, 501 42, 475 35,932 30,658
thous. of lb..
25, 972
27,159
Receipts:
20, 397 20, 255 20, 348 18, 754
21, 598
21, 353 22,480 22,179
22, 769 22,027
Boston
thous. of qt..
21, 895
21,802
125, 242 127, 792 128,272 115, 883 131, 556 127, 288 132, 704 132, 294 131,958 127,050 132, 725 135, 906
Greater New York
do
Powdered milk:
1,390
4,390
1,961
1,770
1,415
1,631
2,277
7,005
6,336
4,155
Exports
thous. of lb-.
2,760
26, 375 25, 770
32,475
37, 282 49, 212 43, 867 35,231
20, 973 27,492 31,616
27, 345 • 24, 394
30,059
Production!
do__.
36, 036 36, 676 37, 231 34,108 31, 705 26, 975 •21,470
33, 351 35, 927
36,831
36, 037 34,175
18,681
Stocks, manufacturers', end of month..do
»• Revised. §Data for 1939 revised; for exports, see table 14, p. 17, and for imports, table 15, p. 18, of the April 1941 Survey.
fData on natural gas revised beginning 1929; earlier data will appear in a subsequent issue. Data for the indicated series on dairy products revised for 1939 and 1940; for
revised 1939 data on production of condensed and evaporated milk, see note marked "f" on p. 42 of the January 1941 Survey; revised 1939 data for butter and cheese production
and consumption, superseding figures shown in the January 1941 Survey, appear in table 26, p. 26 of the September 1941 Survey; for revised 1940 data, see note marked " t "
on p. S-24 of the December 1941 Survey.
January 1942
Monthly statistics through December 1939, together with explanatory notes and references
to the sources of the data, may be found in the
1940 Supplement to the Survey
S-25
SURVEY OF CURRENT BUSINESS
1941
November
1940
November
1941
December
January
February
March
April
May
June
July
936
0
14, 956
2,089
676
0
12, 219
1,013
August
SeptemOctober
ber
FOODSTUFFS AND TOBACCO—Continued
FRUITS AND VEGETABLES
Apples:
Production (crop estimate)^
thous. of bu._ 126,076
Shipments, carlot
no. of carloads..
6,216
Stocks, cold storage, end of mo.-thous. of bu_- 31,105
Citrus fruits, carlot shipments..no. of carloads.. 23, 835
Onions, carlot shipments.
_
do
2,445
Potatoes, white:
2.163
Price, wholesale (N. Y.)
dol. per 100 Reproduction (crop estimate)
thous. of b u . . 1357, 783
Shipments, carlot
.no. of carloads.. 13, 996
GRAINS AND GRAIN PRODUCTS
Exports, principal grains, including flour and
meal§
thous. of bu._
Barley:
Exports, including malt§
do
Prices, wholesale (Minneapolis):
.77
No. 2, malting
dol. per bu_.
.68
No. 3, straight
.do
Production (crop estimate)
thous, of b u . . 1358,709
13, 239
Receipts, principal markets
do
8,739
Stocks, commercial, end of mo
do
Corn:
Exports, including meal§
-__do
« 8,653
Grindings
do
Prices, wholesale:
.71
No. 3, yellow (Chicago) J
dol. per b u . .
.78
No. 3, white (Chicago)
do
.66
Weighted avg.. 5 markets, all grades,.do
Production (crop estimate)
thous. of bu__ 2,672,541
24, 354
Receipts, principal markets..
do
15, 847
Shipments, principal markets
do
39,835
Stocks, commercial, end of month
do
Oats:
Exports, including oatmeal§
do
Price, wholesale, No. 3, white (Chicago)
dol. p e r b u . .
Production (crop estimate)
thous. of bu 11,176,10:
7,052
Receipts, principal markets
do...
11,030
Stocks, commercial, end of month
do
Rice:
Exports§.
_
pockets (100 lb.)_.
Imports
_
do_.
Price, wholesale, head, clean (New Orleans)
.049
dol. per lb
1
54,028
Production (crop estimate)
thous. of bu._
Southern States (La., Tex., Ark., and Tenn.):
Receipts, rough, at mills
2,321
thous. of bbl. (1621b.)..
Shipments from mills, milled rice
1,425
thous. of pockets (100 lb.)-.
Stocks, domestic, rough and cleaned (in
terms of cleaned rice), end of month
2,627
thous. of pockets (100 lb.)._
California:
316,495
Receipts, domestic, rough...bags (100 lb.)_.
290, 089
Shipment from mills, milled rice
do
Stocks, rough and cleaned (in terms of
cleaned rice), end of mo.-bags (100 lb.)_ 247, 542
Rye:
Exports, including
flour
thous. of bu_.
.64
Price, wholesale, No. 2 (Mpls.).-dol. per bu-i 45,191
Production (crop estimate)
thous. of b
2,150
Receipts, principal markets
do
17, 645
Stocks, commercial, end of month
do
Wheat:
Disappearance
..do
Exports, wheat, including
flour§
-do
Wheat only§
do
Prices, wholesale:
No. 1, Dark Northern Spring (Minneapolis)
1.14
dol. p e r b u . .
1.17
No. 2, Red Winter (St. Louis)
do
1.13
No. 2, Hard Winter (K. C.)
do....
1.06
Weighted av., 6 markets, all grades..do
945,937
Production (crop est.), total
thous. of bu_. 1
274,644
Spring wheat
do_
671,293
Winter wheat
do
14, 752
Shipments, principal markets
do
Stocks, end of month:
473, 995
Canada (Canadian wheat)
do...
United States, total
do—
276,260
Commercial
do-.
Country mills and elevators
...do...
Merchant mills
do..
On farms
do--.
Wheat flour:
Disappearance (Rus'l-Pearsall).thous. of bbl
Exports!
do-Grindings of wheat
thous. of bu_Prices, wholesale:
5.88
Standard patents (Mpls.)
dol. per b b l . .
5.44
Winter, straights (Kansas City)
do
Production:
Flour, actual (Census)
thous. of bbl—
Operations, percent of capacity
Flour (Russell-Pearsall)
thous. of bbl. .
Offal (Census)
thous. of l b . .
Stocks, total, end of month (Russell-Pearsall)
thous. of bbl.
Held by mills (Census)
do—r
114,391
4,367
28,656
16, 598
1,386
4,219
23,014
20,050
1,867
1.420
2 378,103
11, 576
1.481
1.531
1.488
1.590
1.700
2.363
1.970
1.806
1.845
1.944
12, 630
17, 552
17,676
25, 762
18,442
22,655
19, 546
13,820
8,273
11, 087
16, 515
5,210
2,559
2,812
3,279
4,244
5,291
5,983
3,330
4,042
5,037
9,116
104
173
109
166
162
123
263
232
178
574
284
.52
.50
.52
.51
310,108
7,877
9,640
.54
.53
.50
.51
.51
.51
.55
.52
.58
.54
.57
.52
.51
.45
.55
.51
.69
.60
.69
'.55
6,496
8,195
6,357
7,335
6,510
6,561
5,442
5,157
4,726
7,838
4,931
6,028
5,471
10,468
5,514
14,111
6,977
9,116
7,757
103
6,633
8,079
558
7,219
40
8,811
175
9,549
1,016
9,194
295
9,421
1,370
8,736
1,211
9,514
2,834
9,676
s 9, 256
.64
.69
.59
.62
.66
.58
.70
.62
.72
.67
.72
.78
.74
.82
.71
.74
.85
.71
.75
.84
.74
.75
.81
.73
.70
.75
.67
16, 433
9,050
70,278
13,862
7,091
18,628
9,280
71,290
17, 403
14,012
65,463
24,846
22,133
60,959
19,244
19,098
53,106
22,123
22, 712
43, 701
18, 776
15,124
40,090
27,496
20, 555
39,137
24,041
17,099
40,135
274
138
113
224
5,770
33, 838
13, 478
1,811
1.350
7,117
9,682
950
.65
.69
.63
.62
.67
.58
22,460,624
20,710
21, 608
10,433
12,190
70,067
4,284
17,070
15, 604
1,569
70,142
87
75
.38
21,246,050
5,337
4,031
6,592
53
70
4, 218
10,529
18, 541
1,763
2,720
5,999
16,937
920
.39
2,718
2,316
19,869
2,762
0
10,307
1,671
5,058
10, 351
6,953
3,679
131
92
82
.37
.37
.36
14, 607
11,771
10, 414
13, 427
3,543
5,664
.37
3,050
4,745
4,567
4,077
4, 539
4,473
3,854
4,571
3,906
10, 575
7,328
.37
r
10, 811
31, 321
10,316
3,506
.46
6,720
11, 562
347,580
23,675
358,185
16, 228
350,908
8, 421
423,116
7,933
377,894
7,282
440,030
17,970
382,981
23,168
320, 939
9,173
212,497
25, 095
262,096
23,418
224, 709
4,709
.034
.035
2 54, 433
.039
.040
.042
.048
.049
.048
.047
.044
.041
.043
2,380
1,519
1,288
763
722
415
171
99
72
312
650
2,191
1,414
1,300
1, 431
1,135
1,182
1,131
837
703
463
548
822
1,278
3,746
4,084
4,035
3,699
3,307
2,675
2,050
1,457
861
114, 059
70, 463
263, 460
131,856
334, 340
354,827
203,870
167,276
289,627
211,149
264,783
81,855
342,635
226,943
447, 277
213,216
468,937
209, 425
538,282
395,017
306, 280
112,137
245, 555
73, 348
294,815
76,762
429,129
380,200
431,886
378,074
378,179
400,577
290,223
294,262
316, 791
374, 789
(4)
.50
.53
(4)
.50
(4)
.52
(4)
.58
(4)
.57
)
.55
2
.62
.68
.60
1,078
7,658
2
.50
« 41,149
713
6,640
609
6,223
337
5,462
792
5,269
961
4,951
3,282
5,486
2,490
5,639
3,758
11, 077
6,944
14, 637
4,944
17, 243
2,603
17, 504
4,069
549
149,649
2,206
301
1,864
46
2,484
56
179,554
3,768
1,998
4,855
1,246
4,572
1,414
158,968
2,711
106
2,413
30
3,137
769
191,679
5,767
3,771
.90
.92
.85
.85
1.00
1.03
1.06
1.08
1.07
1.05
1.14
1.16
1.14
1.12
1.10
1.13
1.12
1.02
17,637
14,086
16, 394
1.01
1.02
.97
.98
.90
.90
.85
.89
.92
.85
.87
.91
10,025
8,085
9,432
11,716
17,114
26, 611
30, 987
415,707
445,153
442,408
428,235
438,088
152," 598"
13<U19"
139,513
429, 565
408,115
151,896
73,240
93,882
89,097
432, 504
161,088
438,973
545,574
141,897
131,247
76,675
195,755
439,533
166,587
440,293
725,128
169,776
165,167
106,303
283, 882
9,889
749
39,707
9,022
405
37,078
9,061
387
40,000
8,063
517
36,575
377
39,792
8,531
768
40, 899
672
39,045
8,386
554
38, 819
9,765
507
40,625
8,293
504
39,123
10, 545
425
43, 247
44, 251
4.66
4.24
4.52
4.16
4.70
4.09
4.54
3.58
4.85
3.71
5.01
3.93
5.32
4.32
5.42
4.77
5.42
5.06
5.76
5.36
6.00
5.63
5.75
5.48
8,737
59.1
10,713
687, 760
8,166
55.6
9,495
639,306
8,818
58.0
9,248
690, 728
60.3
8,505
630,124
8,764
57.9
9,043
686,551
9,002
59.5
9,374
706,944
9,470
675,411
8,552
58.9
9,090
669,141
8, 918
59.3
10,332
703, 201
8,592
57,2
9,047
674,351
9,495
65.8
11,170
745, 899
9,693
62.2
10, 553
766, 313
5,825
5,700
4,409
5,500
5,425
5,900
3,923
5,225
5,250
5,400
4,001
5,450
5,700
5,900
4,586
6,000
.85
1812,374
223,572
2 588,802
16, 210
9,652
.99
452, 018 476, 307
1,156,121
246," 702" 274,600 284,920 280," 588
223,975
154, 902
492, 324
Revised.
> December 1 estimate.
' Revised estimate.
* Less than 500 bushels.
• For domestic consumption only, excluding grindings for export.
§Data for 1939 revised; see table 14, p. 17 of the April 1941 Survey.
^Production in "commercial areas." Some quantities unharvested on account of market conditions are included.
IFor monthly data beginning 1913, corresponding to monthly averages shown on p. 105 of the 1940 Supplement, see table 20, p. 18 of the April 1940 Survey.
S-26
SURVEY OF CURRENT BUSINESS
1940
Monthly statistics through December 1939, to- 1941
gether with explanatory notes and references
to the sources of the data, may be found in the Novem- Novem- December
ber
ber
1940 Supplement to the Survey
January 1942
1941
January
February-
March
April
May-
June
July
October
August September
FOODSTUFFS AND TOBACCO—Continued
LIVESTOCK
Cattle and calves:
2,023
1,697
Receipts, principal markets, thous. of animals.
1,600
1,728
1,647
1,624
1,313
1,503
1, 593
2,200
2 ,453
Disposition:
1,054
1.209
1,079
1,198
977
1,032
976
964
Local slaughter
do...
828
955
923
1,025
1,013
961
956
1,196
605
892
Shipments, total
do....
624
637
623
475
680
544
574
624
580
514
699
235
Stocker and feeder
do
496
302
290
266
220
251
228
328
282
Prices, wholesale (Chicago):
11.40
11.73
11.24
11.55
12.06
11.85
11.27
Beef steers
dol. per 100 lb._.
10.67
11.73
10.81
11.90
10.62
10.23
11.06
11.71
12.01
11.44
12.21
Steers, corn fed_
do—
12.61
12.55
12. 31
13.08
12.46
11.93
11.97
11.88
12. 00
13. 50
11.94
11.94
13.38
10.50
11.34
Calves, vealers
do—
10.58
12.50
11.28
11.34
12.38
11.13
Hogs:
2,832
2 ,542
2,004
2,036
3,595
3,787
Receipts, principal markets, thous. of animals..
2,649
2,610
3,039
1,895
2,513
2,564
2,305
Disposition:
2,098
1,473
1 .905
2,682
1, 488
1,981
2,823
1,941
1,361
Local slaughter
do—
1,817
2,148
1,974
1,707
727
560
616
504
905
623
960
529
Shipments, total
do
696
700
582
587
881
45
54
42
37
54
47
40
43
Stocker and feeder
do—
48
51
48
53
Prices:
58
10.31
11.42
6.24
10.94
10.71
6.42
8.42
Wholesale, heavy (Chi.)-.-dol. per 100 lb_.
7.60
7.53
10.88
8.97
9.88
Hog-corn ratio
7.69
15.2
15.7
15.5
10.3
14.7
bu. of corn per cwt. of live hogs...
12.9
12.8
12.4
13.1
14.8
12.4
Sheep and lambs:
13.0
1,818
2,465
2 ,833
1,776
1,597
1,885
Receipts, principal markets, thous. of animals..
1,416
1,520
1,618
2,023
1,928
1,779
Disposition:
1,721
905
1,018
1,004
908
972
971
922
Local slaughter
do—
917
850
890
933
1,079
997
945
1,406
883
1.820
924
Shipments, total
do—
688
568
632
648
1,104
853
834
718
379
592
320
523
241
Stocker and feeder
do
154
128
131
113
154
377
150
148
Prices, wholesale (Chicago):
5.44
4.03
5.14
5.22
4.41
4.10
5.63
6.27
6.75
5.22
Ewes
doL per 1001b.
4.81
4.84
4.10
10.57
10.75
10. 98
9.06
10.63
10.09
10.29
10.44
11.13
Lambs
do—
10.88
8.88
9.78
MEATS
Total meats:
1,275
1,292
1,289
1,221
1,200
1,069
1,186
Consumption, apparent
..mil. of lb._
1,250
1,286
1,239
1,290
17
106
97
30
18
21
28
18
18
67
Exports§
do.-91
1,394
1,442
1,222
1.178
1,550
1,139
1,216
1 435
Production (inspected slaughter)
do.._
1,215
1,356
1,327
1,190
1,168
724
1,102
788
730
649
Stocks, cold storage, end of month
do...
1,164
1,310
1,282
1,294
1, 258
1,329
1,233
916
73
73
64
66
'64
Miscellaneous meats
.do...
102
89
83
80
75
77
72
Beef and veal:
463, 355 439,048 502, 771 429,195 464,920 486,031 558, 783 525,989 569,054 563,986 592, 169
Consumption, apparent
thous. of lb_.
1,609
1,079
5,473
1,181
1,512
3,181
1,548
1,003
Exports§
do
1,195
978
4,029
Price, wholesale, beef, fresh, native steers
.173
.190
. 176
.171
173
.193
.180
.170
.170
.193
.175
(Chicago)
dol. perlb..
.175
.176
Production (inspected slaughter), thous. of lb_. 535, 884 483,045 469, 265 496,850 410, 821 449,098 473, 364 538, 542 512,112 565,041 557, 536 580,536 642 731
115,468
71, 508 106, 990 108, 622 98,444 90,373
Stocks, beef, cold storage, end of mo
do
85, 563 76, 231 68, 442
73,366 ' 8 9 793
65,708
67,489
Lamb and mutton:
58, 705 58, 314 70, 327 60, 991 62, 355 61,833
62, 276
Consumption, apparent
-do
65, 301 54, 915
62, 238
60, 244
57, 244
60.800 62, 328 62, 214 64, 752 54,458
Production (inspected slaughter)
do
63,094
61,853
67 206
60, 364
59, 332 59,026
69,936
6,400
5,119
4,448
r 4 783
Stocks, cold storaere, end of month
do
4,718
4,378
3,211
4,093
4,130
3,638
3,306
4,427
4,699
Pork (including lard):
766, 548 702,972 677, 365 579, 230 693,909 637,891 662,123 658, 549 643, 730 665, 384 637, 395
Consumption, apparent
do
13, 555 15, 034 15, 941 17, 603 26, 747 25,305
14,213
97, 285
Exports, total
_
do
51, 439
80, 005
70, 508
10, 228 12, 302 13, 666 14,830 24,329 22,375
Lard..
_
_._do
10, 697 20,101
53,819
44, 634
46, 976
Prices, wholesale:
.265
.183
.183
.218
.218
.238
.200
.275
.296
Hams, smoked (Chicago)
dol. per lb._
272
.248
.256
.285
Lard, in tierces:
.104
.053
.062
.104
.050
.070
.111
.057
.095
.101
Prime, contract (N. Y.)
do
104
.103
.120
.069
.075
.114
.068
.097
.075
121
Refined (Chicago)--.
do
.081
.106
.112
.128
.118
Production (inspected slaughter), total
thous. of lb__ 800,819 899, 321 1,021,219 788,844 666, 956 704,487 679, 746 723, 277 623,078 594, 970 549,836 534, 503 725 158
141,579 145,387 181,917 138,836 117,714 130,029 125, 746 139,714 115,719 108,395
92, 231 127 409
Lardf
-do
98,086
529,195 646, 492 950, 238 1,046,817 1,118,552 1,104,072 1,123,574 ,172,305 ,086,399 959,146 773,182 589. 322 '490 694
Stocks, cold storage, end of month
do
352,272 408,900 656,169 739, 927 791,910 785, 387 795,876 798,455 703,893 618,866 485,108 371,362 '313 268
Fresh and cured
do
176, 923 237, 592 294,069 306, 890 326, 642 318, 685 327, 698 373,850 382, 506 340, 280 288,074 217,960 r 177 426
Lardi
_
_.do
POULTRY AND EGGS
Poultry:
89, 802 88, 005 27, 933 19,159
Receipts, 5 markets
thous. oflb_. 77, 720
19, 324 19, 863 30, 353 28,188
28, 723
35, 220
49 351
33,368
172, 436 159,110 208, 365 191,410 163,321 126,904 101,129
Stocks, cold storage, end of month
do
87,433
85, 573
81, 206
96,701 '127 981
85, 363
Eggs:
587
Receipts, 5 markets
thous. of cases..
682
1,110
2,073
1,972
1,337
833
1,508
734
1,520
1,065
876
701
Stocks, cold storage, end of month:
1,969
1.657
3,031
Shell.
thous. of cases..
614
307
6,641
1,090
5,375
6,427
5,441
297
3 857
6,131
91, 273 73, 326 53,828 45, 239 63,428 99,531 142,065 178, 594 195,097 194, 006 178,438 '153 843
Frozen.
.thous. of lb_. 129, 899
TROPICAL PRODUCTS
Cocoa:
Imports!.__
long tons..
30, 082 40,548 33, 795 27, 615 32, 218 31, 304 36, 028 34,395
25, 218
16, 841
24, 257
.0489
.0534
.0731
.0782
Price, spot, Accra (N. Y.)_
_.dol. perlb..
.0578
.0718
.0520
.0795
.0799
.0814
.0787
. 0820
Coffee:
882
1,094
Clearances from Brazil, total- -thous. of bags..
1,136
1,576
1,455
454
1,306
1,110
1,141
627
847
706
518
To United States. _
do.__.
896
1,428
768
1,149
975
945
1,214
296
968
513
744
624
376
2,012
Imports into United States§
_
do
1,386
1,605
2,260
2,135
2,010
591
1,731
1,215
444
72
Price, wholesale, Rio No. 7 (N. Y.)
.052
.093
dol. per lb_.
.053
.057
.063
.053
.075
.087
.082
.093
.094
091
Visible supply, United States..thous. of bags..
1,393
1,600
2,064
1,709
1,300
1,157
2,151
2,224
1,879
1,780
1 580'
Sugar:
Raw sugar:
Cuban stocks, end of month
477
1,654
thous. of Spanish tons..
2,195
1,942
1,216
1,181
1,258
2,421
2,460
1,037
1,422
1,149
789
United States:
Meltings, 8 ports
long tons.. 331, 299 350, 401 305, 978 307, 619 323,430 415, 675 442, 264 426,159 405,219 402,948 417,387 459, 297 iO4 252
Price, wholesale, 96° centrifugal (N. Y.)
dol. perlb..
.035
.034
.035
.034
.029
.035
.029
.030
.033
.037
. 036
035
Receipts: From Hawaii and Puerto Rico
136, 764 118, 252 34, 554 95, 057 143, 375 180, 098 191,473 195,169 166,355 136, 027 126, 173
long tons..
175, 548 113,186 236, 098 276,810 278,863 380,881 322, 567 239, 305 211,202 210,190 167,040
Imports, total§—
do
From Cuba...
_
.do
91, 442 51, 607 148, 938 164, 919 222,179 266, 675 199,483 147, 705 127,864 143,198 110,468
From Philippine Islands.
..do
79,097 45, 955 83, 458 106,397 54, 357 85,001 117,032 78, 326
63,673
16, 769
13,072
352, 584 295, 661 277, 946 276,034 296, 796 312,053 460,549 608, 701 654,105 653,041 506,133 398, 901 ~?55~071
Stocks at refineries, end of month ..do
r
Revised.
§Data for exports and imports revised for 1939; see table 14, p. 17,and table 15, p. 18, respectively, of the April 1941 Survey.
fRevised series; revisions beginning January 1937 appear in table 8, p. 18, of the January 941 Survey; see also note marked "J" which applies to both production
and stocks.
^Includes fats rendered from hog carcasses now reported as "lard" and "rendered pork fat." Figures are comparable with data reported prior to November 1940.
S-27
SURVEY OF CURRENT BUSINESS
January 1942
1941
Monthly statistics through December 1939, to1940
gether with explanatory notes and references
to the sources of the data, may be found in the Novem- Novem- Decem1940 Supplement to the Survey
ber
ber
ber
1941
January
February
March
April
May
June
July
August September
October
FOODSTUFFS AND TOBACCO—Continued
TROPICAL PRODUCTS-Continued
Sugar—Continued.
Refined sugar (United States):
Exports
long tons..
Price, retail, gran. (N. Y.)
dol. perlb..
Price, wholesale, gran. (N. Y.)
do
Receipts:
From Hawaii and Puerto Rico_long tons..
Imports, total
do
From Cuba
do
From Philippine Islands
do
Tea, imports
thous. of lb._
.059
.052
6,305
.050
.043
2,996
.050
.043
6,720
.050
.043
.050
.044
4,560
.052
.048
1,897
.055
.050
2,360
.056
.050
3,175
.056
.049
2,482
.056
.050
7,232
.057
.052
10, 253
.058
.052
1,654
10, 076
6,155
1,362
9,364
2,054
904
241
479
9,385
2,366
12, 976
7,477
5,207
7,838
22, 737
23,361
20, 251
2,857
8,863
29, 442
47, 461
41, 532
5,911
6,197
20, 612
58,108
52,918
4,224
7,793
14, 051
53, 264
48,993
3,990
11,190
6.257
54,551
49,144
5,365
9,752
5,412
27, 707
19,477
7,926
10,679
4,946
19, 025
16, 036
446
7,766
1,116
13, 220
10, 640
1,962
6,915
22, 709
19, 076
20, 411
21, 227
18, 467
15, 512
14, 736
13, 999
17, 219
27, 034
37,224 47, 033 54,580
31, 518 22, 027 29,189
728, 566 530, 784 421, 338 277,998 204, 808 156,185
100, 088 86,880 71,458 49, 805 35, 757 41,878
54,555
(3)
55,117
51,123
(3)
73, 432
54,159 ' 59, 355 49,3 521
()
(3)
(3)
90, 885 102,191 107, 574
1,973
2,025
4,803
1,661
2,248
4,216
.059
.052
MISCELLANEOUS FOOD PRODUCTS
30, 624
Candy, sales by manufacturers...thous. of dol
24,159
Fish:
Landings, fresh fish, prin. ports.thous. of lb__ 42, 215 36, 070
Salmon, canned, shipments
cases. .
463, 549
(3)
Stocks, cold storage, 15th of mo.-thous. of lb__ 115, 445 95, 531
Gelatin, edible:
Monthly report for 7 companies:
Production
do
1,625
2,271
S hipments
do
1,636
2,060
Stocks
do
5,492
3,431
Quarterly report for 11 companies:
Production
do
Stocks
do
TOBACCO
Leaf:
Exports, incl. scrap and stems§._thous. oflb_.
Imports, incl. scrap and stems§
do
Production (crop estimate)
mil. of lb._
Stocks, dealers and manufacturers, total, end
of quarter
mil. of lb._
Domestic:
Cigar leaf
do
Fire-cured and dark air-cured
do
Flue-cured and light air-cured
do
Miscellaneous domestic
do
Foreign grown:
Cigar leaf
do
Cigarette tobacco
do
Manufactured products:
Consumption (tax-paid withdrawals):
Small cigarettes
millions. _
Large cigars
thousands..
Mfd. tobacco and snuff
thous. oflb._
Exports, cigarettes!
thousands._
Prices, wholesale (list price, destination):
Cigarettes, composite price.-dol. per 1,000..
Cigars, composite price
do
Production, manufactured tobacco:
Total
thous. oflb_.
Fine cut chewing
do
Plug
do..._
Scrap chewing
do
Smoking
_
.do
Twist
do
1
11,836
5,365
1 , 280
17,141
542,906
27, 376
5.760
46. 056
1,856
1,775
5,574
1,806
1,617
5,763
1,686
1,513
5,935
1,847
2,205
4,882
2,028
2,055
4,856
14,844
6,268
14,930
19,404
7,087
1,435
2,006
3,644
14, 030
5,927
22,699
6,526
14, 916
6,630
1,774
2,051
3,367
2,155
2,303
3,220
6,329
4,720
7,492
6,563
6,977
7,804
6,364
8,421
18,947
7,091
21, 456
1,850
2, 545
5,240
31,900
26, 793
6,042
20, 975
5,725
23, 380
7,451
3,437
3,594
3,349
3,369
322
202
2,789
4
396
299
2,778
3
404
283
2,527
4
368
258
2,618
4
18
102
19
99
22
109
21
14,347
13,815
16, 287 14,465 15,529 15,854 17,858
18, 523 18, 404 17,777
507, 349 349, 780 403,166 385,349 430,326 490, 585 475,067 478, 802 487,033 491, 028
28, 596 24, 758 28, 958 25, 202 28, 253 29,127 29, 232 27, 660 28,835 27,462
472,923 597, 390 626,129 584, 281 685,139 685, 513 926,183 549,338 521, 326 843, 686
18, 761
506,071
29, 756
433, 690
19, 632
621, 990
32,179
5.760
46.056
5.760
46.056
5.760
46.056
5.760
46.056
5.760
46.056
5.760
46.056
5.760
46.056
5.760
46.056
5.760
46.056
5.760
46. 056
5.760
46. 056
5.760
46.056
25, 704
421
3,942
3, 256
17, 642
442
22, 941
380
3,681
3,196
15, 227
456
25,153
426
3,882
3,636
16, 752
457
22, 630
355
3,748
3,347
14, 719
461
24, 766
389
4,065
3,385
16,458
468
26,246
402
4,406
3,745
17, 209
483
25,462
427
4,288
3,524
16,847
376
25, 346
441
4,229
3,910
16, 288
478
25, 732
458
4,560
3,884
16, 348
483
24, 535
27, 166
29, 047
467
4,710
4,016
19,341
514
505
467
4,264
4,064
15, 200
4,476
3,962
17, 758
501
503
FUELS AND BYPRODUCTS
COAL
Anthracite:
Exports
thous. of long tons..
159
180
97
153
146
Prices, composite, chestnut:
Retail
dol. per short ton._
11.59
11.66
11.66
11.67
11.67
11. 57
Wholesale
do
9.793
9.826
9.805
9.799
10,301
9.823
9.775
Production
thous. of short tons..
4,834
4,432
4,595
3,198
3,832
4,977
3,980
Stocks, end of month:
In producers' storage yards
do
1,112
531
331
939
704
197
In selected retail dealers' yards
26
23
number of days' supply..
57
45
43
33
Bituminous:
518
488
658
1,065
Exports
thous. of long tons..
528
454
Industrial consumption, total
32, 637
34,041 29, 023
30, 961
thous. of short tons.. 34, 554
33, 588 31,161
835
148
736
626
Beehive coke ovens
do
931
789
817
6,848
6,404
6,799
Byproduct coke ovens
do
7,157
6,445
7,061
628
507
489
556
Cement mills
do
470
370
407
136
143
171
139
Coal-gas retorts
do
150
139
152
5,531
Electric power utilities
do
4,582
4,737
4,164
4,729
4,446
4,782
Railways (class I)
do
8,747
8,072
7,006
7,594
8,600
7,666
8,176
Steel and rolling mills
do
912
946
895
975
1,024
966
1,043
Other industrial
do
9,730
10, 910
9,770
10,440
10, 980
11,150 10,340
Other consumption:
Vessels (bunker)
thous. of long tons..
78
77
80
107
80
Coal mine fuel
thous. of short tons..
298
345
43
296
315
286
Prices:
Retail, composite^
dol. per short ton_.
8.84
8.87
8.87
8.87
9.47
Wholesale:
Mine run, composite
do
4.393
4.393
4.367
4.367
4.713
4.375
4.368
Prepared sizes, composite
do
4.930
4.619
4.618
4.615
4.615
4.533
4.616
Production}:
thous. of short tons... 42, 865
5,975
40, 012
41,400
44, 070 41, 695 48, 250
3
r Revised.
i December 1 estimate.
Revised estimate.
JData for 1938 revised. See p. 4 5 of the August 1940 Survey.
IComposite price for 37 cities in October; 36 cities in November; and 35 cities beginning in December 1940.
§Data for 1939 revised; for exports, see table 14, p. 17, and for imports, table 15, p. 18 of the April 1941 issue.
309
335
223
304
404
11.64
9.779
3,858
11.57
9.807
4,891
11.88
9.939
4,681
12.17
10.073
5,246
12.41
10. 209
5,143
12.46
• 10. 301
r 5, 380
169
205
268
414
708
1,177
53
29
32
48
59
96
1,511
2,071
1,973
2,325
2,353
31,199
850
6,871
596
134
4,916
7,755
837
9,240
30,881
886
6,855
615
127
5,135
7,576
827
8,860
31, 510
908
7,107
660
128
5,215
7,799
833
8,860
32, 400
959
7,108
658
132
5,643
8,038
842
9,020
31, 928
901
6,814
630
126
5,552
8,053
802
9,050
124
307
113
306
129
311
137
329
164
335
356
9.06
9.24
9.34
9.42
8.85
4.547
4.618
43,400
4.570
4.663
42, 774
<• 34, 978
968
' 7,050
676
' 143
T
5,913
8,742
886
10, 600
4.618
4.658
4,677
'4.703
4.724
4.823
4.883
'4.922
43,300
45,650
46,880
49,800
3 Comparable data are not available.
S-28
SUKVEY OF CURRENT BUSINESS
Monthly statistics through December 1939, to- 1941
1940
gether with explanatory notes and references
to the sources of the data, may be found in the Novem- Novem- Decem1940 Supplement to the Survey
ber
ber
ber
January 1942
1941
January
February
March
April
May
August September
June
July
47, 051
40,451
6,215
634
285
10,431
7,003
723
15,160
6,600
52,801
45,011
7,205
660
296
10,912
8,111
••775
17,070
7,790
56,994
48, 044
7,292
709
331
11,637
8,758
827
18,490
8,950
October
FUELS AND BYPRODUCTS—Continued
COAL—Continued
Bituminous:
Stocks, industrial and retail dealers, end of
month, total
thous. of short tons..
Industrial, total
do
Byproduct coke ovens.._
do
Cement mills
do
Coal-gas retorts
do
Electric power utilities.__
...do
Railways (class I)
do
Steel and rolling mills..
do
Other industrial
do
Retail dealers, total
do
COKE
Exports
thous. of long tons__
Price, beehive, Connellsville (furnace)
dol. per short ton..
Production:
Beehive
.thous. of short tons..
Byproduct
do
Petroleum coke
do
Stocks, end of month:
Byproduct plants, total
do
At furnace plants
do
At merchant plants
do
Petroleum coke
do
61,754
52, 004
8,326
714
372
12,427
9,726
899
19,540
9,750
6.125
532
PETROLEUM AND PRODUCTS
Crude petroleum:
Consumption (runs to stills)...thous. of bbl..
Imports!
_do
Price (Kansas-Okla.) at wells.,-dol. per bbL_
1.110
Production*
thous. of bbl..
Refinery operations
pet. of capacity...
Stocks, end of month:
California:
Heavy crude and fuel
thous. of bbl..
Light crude
do
East of California, total*
do
Refineries*
do
Tank farms and pipe lines*.
.do
Wells completed*
number..
Refined petroleum products:
Gas and fuel oils:
Consumption:
Electric power plantsf
thous. of bbL.
1,730
Railways (class I)
.do
yessels (bunker)
do
Price, fuel oil (Pennsylvania)*.dol. per gal.. "".054
Production:
Residual fuel oil*
thous. of bbl._
Gas oil and distillate fuels, total
do
Stocks, end of month:
Residual fuel oil, east of Calif
do
Gas oil and distillate fuels, total
do
Motor fuel:
Demand, domestic*.
...thous. of bbl_.
Exportsf
do
Prices, gasoline:
.060
Wholesale, refinery (Okla.).dol. per gal..
.149
Wholesale, tank wagon (N. Y/)f
do
.141
Retail, service stations, 50 cities*.__do
Production, total*
thous. of bbl..
Benzol*
do
Straight run gasoline*
do
Cracked gasoline*
do
Natural gasoline*
do
Natural gasoline blended*
do
Retail distribution
mil. of gal..
Stocks, gasoline, end of month:
Finished gasoline, total J___thous. of bbl_.
At refineries
do
Natural gasoline
do
Kerosene:
Consumption, domestic
do
Exports§
do...
Price, wholesale, water white, 47°, refinery
.064
(Pennsylvania)
dol. per gal._
Production
thous. of bbl..
Stocks, refinery, end of month
do...
Lubricants:
Consumption, domestic*
do...
Price, wholesale, cylinder, refinery. (Penn
.160
sylvania).
dol. per gal_.
Production
thous. of bbl..
Stocks, refinery, end of month
do
Asphalt:
Imports§
.short tons..
Production
do
Stocks, refinery, end of month
..do
Wax:
Production
thous. of lb._
Stocks, refinery, end of month
do
51,872
42, 922
10, 091
476
273
11,413
5,748
691
14, 230
8,950
50, 998
42, 978
10,184
436
284
11, 336
5,921
827
13,990
8,020
48, 702
42,102
9,887
408
258
11,119
6,235
935
13, 260
6,600
62
51
45
4.555
5.000
5.375
48, 518
42, 518
9,890
440
247
10, 944
7,216
1,041
12, 740
6,000
50, 690
45, 590
9,854
562
247
11,330
8,741
1,276
13, 580
5,100
35, 971
31,891
4,970
390
188
9,014
5,658
721
10, 950
4,080
37,483
32,583
4,725
483
162
8,991
6,135
737
11,350
4,900
42,929
37,249
5,913
559
225
9,988
6,604
720
13,240
5,680
36
49
47
51
64
61
61
54
6.125
6.125
6.125
6.125
6.125
611
5,013
137
574
4,806
158
613
4,971
154
5.375
5.375
5.375
5.825
' 61,401
'51,501
8,371
720
'364
11,919
9,548
909
19,670
9,900
93
4,474
128
541
4,846
140
564
4,836
144
578
5,014
134
1,401
694
706
400
1,405
741
664
385
1,428
849
578
382
1,452
875
577
367
932
664
372
1,588
889
699
370
1,616
871
745
362
111,106 119,435
4,132
3,701
1.035
1.010
116,976
111, 080
85
88
115,935
4,488
1.110
115,027
88
121,180
4,657
1.110
118,251
89
124,572
4,319
1.110
121,354
90
121,481
4,790
1.110
119,446
'""I.'iio
69,833 68,661 67,256 66,256
36, 985 37,451 37,272 36,221
220,046 221,319 221,120 218,355
42,260 41,649 42,528 41, 595
177,786 179, 670 178, 592 176,760
1,184
1,615
1,162
1,612
65,735
34,961
216,454
43,526
172,928
1,620
66,454
35,651
212,132
44,472
167,660
1,934
64,729 63,847
34,560 34,875
207,225 203,481
43,483 41,975
163,742 161,506
1,836
1,931
62,941
34,852
201,048
42,446
158,602
1,821
1,592
5,040
2,836
.048
1,325
5,147
2,488
.053
1,620
5,339
2,633
.057
1,793
5,460
2,661
26,748
14, 692
27,994
15, 546
27,882
14,697
28,624
15, 746
19,822
24,449
20,891
27,353
20,914
30,620
48, 760
1,287
55,154
1,232
59, 307
1,257
.044
.127
.123
48,374
280
20,112
23,417
4,565
3,510
1,732
.045
.129
.124
53, 409
317
21, 995
26,181
4,916
3,981
2,019
.049
.135
.131
53, 768
277
22,131
26, 380
4,980
3,688
2,220
83,310
55, 562
5,490
61, 756
5,311
91,501
64,468
5,331
7,808
113
7,769
57
6,484
54
.050
6,431
10,473
.052
6,894
9,512
.053
6,661
8,312
2,449
1,875
.090
3,021
8,365
.090
2,865
8,767
377
396, 900
526,000
43,960
120, 212
496
4,502
103
1,391
774
618
375
586
4,999
125
1, 337
845
492
375
417
4,764
88
490
4,904
126
514
4,933
126
1,997
713
1,284
527
1,901
736
1,165
487
1,597
732
865
406
105,364
4,023
.960
106, 904
82
109, 703
4,744
.960
110,520
82
110,683
3,199
.960
110, 647
83
100,445 111.059
3,321
3,876
.960
.960
100, 791 112,817
83
73", Oil
35,043
220,645
44,873
175, 772
1,533
71, 798
35,852
221,031
43, 767
177,264
1,243
70,474
35,961
219, 905
42, 760
177,145
1,368
1,461
4,805
2,779
.042
1,837
5,021
2,525
.043
1,844
4,938
2,172
.044
1,586
4,511
2,487
.044
1,677
5,061
2,569
.044
1,658
4,895
2.823
.045
26,125
15, 073
27, 925
16, 608
27, 880
17,018
25, 944
14,732
24,580
35,885
23,656
32,082
22,060
28,034
21,154
28,542
27,677
15, 387
21,086
23,293
49,074
2,082
46,413
1,863
45, 344
1,767
42, 001
1,079
.045
.120
.121
50, 892
282
21,053
24, 716
4,841
4,133
2,020
.045
.123
.122
52, 508
298
22,213
25,047
4,950
3,945
1,947
.044
.125
.122
52, 542
313
21, 353
25, 992
4,884
4,016
1,848
73,429
46,695
6,102
77,943
50,807
5,704
6,768
175
126,772
126,145
'1,841
6,049
.058
1,655
5,435
2,331
.059
29,836
15,409
28,118
16,024
30,871
16,554
21,909
34, 337
23,562
36,845
25, 224
39,726
26,198
42,028
58,360
1,184
63, 093
1,212
62,944
1,355
58,995
2,211
.053
.143
.137
58, 258
288
23,881
28, 908
5,181
3,541
2,383
.058
.149
.138
56,987
274
23,140
28,478
5,095
3,648
2,327
.060
.149
.139
59, 609
271
23,962
30,124
5,252
3,769
2,543
.060
.149
.140
60, 740
277
24, 790
30,034
5,639
4,237
'2,584
.060
.149
.140
60,167
266
24,039
30,198
5,664
4,854
2,330
.060
.149
.140
62,288
296
24,712
31,328
5,952
5,123
88, 414
61,186
5,504
85,425
57,357
5,856
82,411
52,856
6,235
77,429
49, 092
6,317
73,094
45,463
6,111
72, 761
46,151
5,373
74,698
46,417
74,870
6,778
124
5,549
158
4,504
118
3,918
101
4,270
95
4,449
52
5,624
295
.054
5,888
7,634
.054
6,033
6,724
.054
6,068
7,063
.054
6.033
8,421
.057
5,218
9,609
.059
5,406
10, 635
.062
5,850
11,636
.063
5,949
11,662
2,367
1,798
2,263
2,712
2,732
3,171
3,074
2,562
2,638
.090
2,943
8,809
.094
2,522
8,790
.099
2,813
8,637
.100
3,213
8,363
.103
3,322
7,835
.123
3,520
7,353
.140
3,563
7,107
.143
3,561
7,206
.154
3,427
7,415
.160
3,494
7,487
18,504
326, 200
614,000
600
303,100
689,000
9,838
306,400
760,000
579
9,579
373, 300 488,900
831,000 933,000
2,452
601,800
964,000
4,366
634,500
841,000
0
687,100
713, 000
0
740, 700
605,000
0
680, 200
474,000
694,400
451,000
43,680
125,272
45,080
120,027
38,920
119,150
51, 240 56, 280 57,400
121,887 116,096 118,456
54,600
110,481
55, 440
101,434
54,320
85,824
66,360
79,458
67, 760
75,467
.063
6,355
11,670
' Revised.
^Revised beginning February 1941 to exclude for East Coast district, stocks of "shuttle oil" and stocks transferred to the U. K. pool board.
*New series. Data on wholesale price of fuel oil beginning January 1918 appear in table 46, p. 14 of the November 1940 Survey. Data beginning 1920 for the new series
on retail service-station price of gasoline, which replaces a similar series shown in the Survey through February 1941, appear in table 10, p. 16 of the March 1941 Survey.
tExports of motor fuel revised; for data for 1913 to 1939, see table 54, p. 16 of the December 1940 Survey; for data for all months of 1940, see note marked " t " on p. S-28 of the
August 1941 Survey. Data beginning January 1941 include mineral spirits; the comparability of the series is affected to a negligible extent by the inclusion of this item. For
revised series on wholesale tank wagon (N. Y.) price of gasoline, see table 6, p. 18 of the January 1941 Survey. Gas and fuel oil consumption in electric power plants revised
for 1939. See p. 45 of the August 1940 Survey.
JRevised data for 1939 appear in table 1, p. 17 of the January 1941 Survey.
§Data revised for 1939; for exports, see table 14, p. 17, and for imports, table 15, p. 18 of the April 1941 Survey.
S-29
SURVEY OF CURRENT BUSINESS
January 1942
Monthly statistics through December 1939, to- 1941
1940
gether with explanatory notes and references
to the sources of the data, may be found in the Novem- Novem- Decem1940 Supplement to the Survey
ber
ber
ber
1941
January
Febru- March
ary-
April
May
June
July
August Septem- October
LEATHER AND PRODUCTS
HIDES AND SKINS
Imports total hides and skins§
thous. of lb_.
Calf and kip skins§._
do
Cattle hides
do
Goatskins§.
_._
_
do
Sheep and lamb skins§
do
Livestock (federally inspected slaughter):
Calves _
thous. of animals__
Cattle
do....
Hogs
_
do
Sheep and lambs
_.do
Prices, wholesale (Chicago):
Hides, packers', heavy, native steers
dol. perlb..
Calfskins, packers', 8 to 15 lb
do
LEATHER
Exports:
Soleleather§
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 Iambi
__
do
Prices, wholesale:
Sole, oak, scoured backs (Boston) _ .dol. per lb..
Chrome, calf, B grade, black, composite
dol. persq. ft_.
Stocks of cattle hides and leather, end of month:
Total
thous. of equiv. hides..
In process and
finished
.do
Raw
do
38,459
22,004
5,368
5,882
42, 542
1,489
26,925
4,990
5,357
41,284
2,828
24,638
4,792
6,249
35,411
1,795
16,544
6,446
8,550
39, 540
1,859
24,182
5,895
5,254
50,665
2,316
28,548
5,403
10, 981
56, 267
1,949
35, 327
7,203
8,789
53,572
2,150
34,025
8,577
7,004
50, 686
1,205
32,471
6,072
9,180
61,899
2,083
38,419
6,092
12, 761
48, 944
1,815
34, 023
5,463
5,096
437
858
6,063
1,416
411
891
4,517
1.625
384
717
3,725
1,391
444
766
3,904
1,408
507
792
3,807
1,436
501
908
4,023
1,551
440
867
3,336
1,378
445
968
3,006
1,569
414
968
2,796
1,522
447
1.004
2,920
1,567
536
1,119
4,157
1,682
.155
.218
476
941
4,561
1,424
462
884
5,419
1,462
.155
.218
.146
.218
.133
.213
.133
.216
.124
.216
.129
.225
.137
.240
.147
.245
.153
.234
.150
.218
.150
.218
.153
.218
4,000
2,626
2,209
2,776
435
2,679
1,278
3,416
2,799
3,781
14
3,871
14
4,321
77
2,268
11
4,363
24
4,889
1,368
3,346
912
1,941
2,672
3,411
964
2,054
3,098
3,320
2,182
2,953
3,494
1,014
2,120
3,064
3,797
1,151
2,155
3,417
3,724
1,102
2,208
3,677
4,077
1,033
2,256
3,653
4,632
1,098
2,232
3,997
4,368
1,170
2,373
4,269
4,568
1,181
2,375
3,365
4,741
1,084
' 2, 389
4,107
4,577
.415
.343
.345
.355
.355
.355
.367
.375
.370
.415
.415
.415
.415
.525
.466
.478
.481
.480
.495
.503
.518
.510
.516
.522
13, 998
9,544
4,454
14, 063
9,588
4,475
13,656
9,370
4,286
13,009
8,685
4,324
13,184
8.603
4,581
13,479
8,659
4,820
13, 764
9,400
4,364
.
13,221
8,958
4,263
1,209
2,671
4,554
4,841
13,387
8,509
4,878
13,497
8,459
5,038
' 13, 496 13,880
' 8,374
8,378
' 5,122
5, 502
249, 638 258,435
147,823 155,805
101,815 102,630
292,122
179,332
112,790
246,104 281, 906
161, 399 172, 213
84, 705 109, 693
LEATHER MANUFACTURERS
Gloves and mittens:
Production (cut), total...
dozen pairs.
Dress and semidreess
do...
Work
do...
Boots, shoes, and slippers:
Exports§
thous. of pairs. _
Prices, wholesale, factory:
Men's black calf blucher
dol. per pair..
Men's black calf oxford, corded tip...do
Women's colored, elk blucher
.do
Production, boots, shoes, and slippers:
Total
thous. of pairs
Athletic
do
All fabric (satin, canvas, etc.)
do
Part fabric and part leather
do
High and low cut, leather, total
do
Boys' and youths'
do
Infants'
do
Misses' and children's—
do
Men'sJ
do
Women's
do
Slippers and moccasins for housewear
thous. of pairs..
All other footwear
do
(>
0)
0)
196, 519 204,313
118,020 127,698
76,615
78,499
235, 700 243,889 266,236
146, 597 149, 529 158,949
94,360 107,287
89,103
108
101
219
241
237
221
158
148
309
6.00
4.25
3.30
6.00
4.25
3.30
6.00
4.25
3.30
6.00
4.25
3.30
6.00
4.27
3.30
6.15
4.35
3.30
6.15
4.35
3.30
6.23
4.35
3.45
6.25
4.35
3.55
6.25
4.35
3.55
6.36
4.35
3.55
30,533
508
305
833
22, 541
1,281
1,823
2,941
8,678
7,819
31, 624
469
349
1,013
25,430
1,312
1,891
3,287
8,788
10,151
36,803
380
414
1,586
32,215
1,359
2,148
3,909
10, 254
14, 544
324
493
1,645
32 868
l', 266
1,947
3,954
9,998
15, 704
42, 663
401
453
1,400
36,427
1,461
2,256
4,217
10,666
17,826
42,841
416
582
1,153
35,912
1,555
2,166
3,973
11,198
17,019
41,174
437
563
910
34,263
1,664
2,188
3,817
11,325
15, 268
39,780
471
289
854
32, 720
1,683
2,461
3,870
10,937
13, 768
44, 794
506
258
684
37,850
1,825
2,508
4,256
11,493
17, 769
44,985
513
225
816
37,459
1,696
2,468
4,048
11,577
17,671
43, 568
509
273
1,017
35, 360
1,812
2,384
4,022
11, 788
15, 354
45, 246
555
271
1,004
36, 578
1,901
2,556
4,402
13, 235
14,484
6,143
203
4,120
243
1,713
496
2,343
615
2,993
990
3,760
1,019
3,937
1,063
4,427
1,020
4,824
674
5,538
433
5,975
433
6,426
411
51,163
7,250
34, 090
152,190
170
6.40
4.39
3.55
0)
0)
(0
6.00
4.25
3.30
LUMBER AND MANUFACTURES
LUMBER-ALL TYPES
Exports, total sawmill products
M bd. ft..
Sawed timber§
do
Boards, planks, scantlings, etc.§
do
Imports, total sawmill products
do
National Lumber Mfrs. Assn.:f
Production, total
mil. bd. ft._
Hardwoods
_.do
Softwoods
..do
Shipments, total
_
do
Hardwoods
do
Softwoods
do
Stocks, gross, end of month, total
do
Hardwoods
do._._
Softwoods
do
73,911
10,085
53,023
71,548
61,960
6,443
36,434
71,202
79,865
14,907
46,449
62,349
60,921
7,755
42,140
67,504
50,968
2,541
35,284
83,861
65,828
7,916
39,838
79, 734
53, 308
4,399
40,168
95,057
51, 977
7,404
37,422
115, 745
84, 272
7,557
67, 635
135, 018
61,793
11,371
46,586
178,887
2,342
388
1,954
2,569
422
2,147
6,685
1,514
5,171
2,227
357
1,870
2,405
383
2,022
6,552
1,487
5,065
2,298
360
1,938
2,480
393
2,087
6,384
1,455
4,929
2,177
325
1,853
2,232
359
1,873
6,329
1,421
4,908
2,395
327
2,068
2,391
369
2,023
6,333
1,380
4,953
2,568
381
2,187
2,512
387
2,125
6,406
1,374
5,031
2,609
372
2,238
2,610
405
2,205
6,462
1,342
5,120
2,581
370
2,211
2,676
410
2,266
6,393
1,303
5,090
' 2, 734
-•375
' 2, 359
' 2, 907
'423
' 2,484
'6,355
'1,332
'5,023
'2,895
••380
'2,516
'3,022
412
'2,611
'6,220
'1,299
'4,921
' 2, 716
'377
' 2, 339
2,784
'418
' 2, 366
' 6,154
' 1, 280
' 4, 874
2,755
394
2,361
2,786
432
2,354
6,130
1,243
4,887
FLOORING
Maple, beech, and birch:
7,000
Orders, new
M bd. ft_.
9,050
10,350
12,800
8,075
9,300
8,225
7,900
6,450
5,750
8,075
13,175
11, 500
Orders, unfilled, end of month
do
11,450
13,925
11,175
11,175
11,350
11,150
10,100
10,950
11,600
8,950
7,600
Production
_do
8,750
8,200
9,000
7,800
8,275
7,100
7,600
8,550
6,650
9,800
8,800
10,125
10,325
Shipments
_
do
9,500
8,300
7,000
6,600
7,275
8,325
7,650
13,425
12, 200
16, 675
14,800
Stocks, end of month
"do
17,750
18,350
16,200
17,500
19,300
18,200
18,350
Oak:
"
36, 363
44,781
53,489
Orders, new
_.
do
60, 524
54,442
31,588
25,942
35, 903
45,981
45,931
58,267
28,102
74,305
60,460
Orders, unfilled, end of month
do
79, 516
81,988
78,173
74,089
55, 519
46,695
44,681
54,985
62,250
42, 549
49, 925 47, 432
Production
do
51,865
46,761
43,227
48,413
44,254
46,656
38,409
40,369
40, 910
53,464
Shipments
_
do_~_~ 38,104
52,146
48,
939
50,358
57,150
46,428
44,642
36,664
37,941
35,677
40,666
44,962 41, 955
Stocks, end of month
do
65,533
61, 580
51,038
70, 737
55,197
62, 788
71, 503
74,235
73,938
48, 278
r
Revised.
JData beginning January 1940 include fleshers and exclude skivers.
» Data not available.
§Data for 1939 revised; for exports see table 14, p. 17, and for imports, table 15, p. 18 of the April 1941 Survey.
tRevised data for 1939 and January and February 1940 appear in table 17, p. 17 of the May 1941 Survey.
^Beginning January 1941, data include a small number of pairs of shoes other than men's leather (nurses, athletic, etc.) made for Government contract.
7,650
10, 900
8,900
8,300
12, 850
40, 080
52, 446
49, 227
48, 094
43, 088
S-30
SURVEY OF CURRENT BUSINESS
Monthly statistics through December 1939, to- 1 9 4 1
1940
gether with explanatory notes and references
to the sources of the data, may be found in the Novem- Novem- December
1940 Supplement to the Survey
ber
ber
January 1942
1941
January
February
March
April
May
June
July
August
s
xr
Octobe
LUMBER AND MANUFACTURES—Continued
SOFTWOODS
Douglas fir:
Exports, total sawmill products!-__M bd. ft..
Sawed timber §
do
Boards, planks, scantlings, etc.§
do
Prices, wholesale:
Dimension, No. 1, common*
doj. per M bd. ft..
Flooring, " B " and better, F. G., 1 x 4, R. L.*
dol. per M bd. ft_.
Southern pine:
Exports, total sawmill products,._M bd. ft..
Sawed timber
do
Boards, planks, scantlings, etc
do
Orders, newt
mil. bd. ft..
Orders, unfilled, end of month
do
Price, wholesale, flooring,_.dol. per M bd. ft._
Production!
mil. bd. ft_.
Shipments f
do
Stocks, end of month
do
Western pine:
Orders, newf
do
Orders, unfilled, end of monthf
do
Price, wholesale, Ponderosa pine, 1x8, No. 2,
common (f. o. b. mills)-—dol. per M bd. ft._
Production}
mil. bd. ft..
Shipments!
do
Stocks, end of month
do
West coast woods:
Orders, newt
do
Orders, unfilled, end of month
do
Production t
do
Shipments t
do
Stocks, end of month
do
Redwood, California:
Orders, new
M bd. ft..
Orders, unfilled, end of month
do
Production
do
Shipments
do
Stocks, end of month
do
FURNITURE
All districts:
Plant operations
percent of normal..
Grand Rapids district:
Orders:
Canceled
percent of new orders. _
New
no. of days' production..
Unfilled, end of month
do
Plant operations
percent of normal..
Shipments
no. of days' production..
Prices, wholesale:
Beds, wooden
1926=100..
Dining-room chairs, set of 6
do
Kitchen cabinets
do
Living-room davenports
do
Steel furniture (see Iron and Steel Section).
30, 752
8,390
22, 362
14,285
4,157
10,128
27,896
12,620
15, 276
24, 347
6,555
17, 792
12,651
1,365
11,286
17, 517
4,893
12,624
13,435
3,563
9,872
19, 901
5,940
13,961
18, 743
6,615
12,128
28,069
7,915
20,154
19,970
5, 580
14,390
28. 910
24. 990
25.970
25. 970
24.990
24.990
24.990
24.990
24. 990
25. 970
25.970
27. 146
41.160
34. 300
36.260
36.260
35.280
35. 280
35.280
35. 280
35. 280
36. 260
36.260
38. 808
11,581
1,215
10,366
763
550
50. 585
734
813
1,477
11,293
1,868
9,425
640
498
50. 868
718
692
1,503
11,691
1,747
9,944
773
511
50. 750
763
760
1,506
8,991
750
8,241
674
542
49.943
676
643
1,539
7,761
746
7,015
642
553
48. 788
734
631
1,642
15,911
2,612
13,299
685
580
48.570
753
658
1,737
12,573
259
12, 314
767
646
48.213
759
701
1,795
12, 679
1,159
11, 520
896
824
49.143
670
718
1,747
45, 111
586
44, 525
1,019
952
51. 446
734
891
1,590
16,941
3,104
13,837
692
762
54 393
748
882
1,456
10, 486
1,471
9,015
695
715
51. 704
708
742
1,422
441
433
397
380
425
394
380
400
480
466
502
490
560
535
637
607
642
518
554
541
479
33.04
414
494
1,917
33.58
344
446
1,812
33.99
262
411
1,663
33.47
265
374
1,551
33.37
343
414
1,479
33.68
468
478
1,469
33.22
570
516
1,523
33.31
614
543
1, 593
33.52
35.
37
T
661
593
1,685
33.87
••684
'611
1,754
656
726
614
606
867
642
693
618
677
851
676
675
681
855
660
701
669
634
799
746
752
756
885
749
735
743
759
797
787
664
744
867
771
814
695
750
838
776
883
692
715
831
705
772
813
826
819
679
699
733
734
821
38,959 47,132 43, 576 43, 685 30,856
52,724 58,493 64,769
65, 422 55,204
34,058 39,835 40,148 42, 646 47,272
37,105 40,461
37, 595 40, 810 42,221
255, 390 249, 358 246,625 246, 431 244,169
28,089
44, 532
43, 703
39.068
242, 763
51.165
35.69
27,191
34. 860
38,671
29,910
248,440
36, 581 40, 469 33,131
42,849 51,877
52,859
31,468 29,761
35,279
36,318 31,476
31,455
275, 402 270,158 269,424
29, 343 38,756
48,415 50,930
33,700 31,622
32,738 33,233
267, 276 262,805
-•673
r
T-619
1, 775
87.5
77.0
74.0
70.0
73.0
75.0
76.0
75.0
82.0
82.0
87.0
5.0
35
85
88.0
27
5.0
21
40
74.0
23
8.0
17
33
75.0
20
3.0
28
42
72.0
20
6.0
22
42
73.0
21
5.0
22
42
74.0
21
6.0
20
40
74.0
19
4.0
32
54
74.0
20
4.0
26
62
78.0
20
3.0
35
70
77.0
25
3.0
27
72
82.0
28
3.0
33
76
84.0
32
98.0
113.6
102.0
104.2
77.9
102.3
88.1
87.2
77.9
102.3
88.1
87.2
83.5
100.9
89.4
87.2
83.5
100.9
89.4
87.2
83.5
100.9
89.4
87.2
85.1
102.5
90.7
87.2
87.2
103.9
93.3
87.2
92.9
103.9
93.3
93.3
95.0
105.5
97.4
93.3
93.5
108.2
97.4
93.3
96.1
108.2
99.3
472, 734 457,685
62,894
59,018
5,633
10,190
3,758
6,473
537,921
59,905
11,049
9,418
697,732
80,255
18,380
16,405
706, 580
65, 486
8,489
4, 259
METALS AND MANUFACTURES
IRON AND STEEL
Foreign trade:
Exports (domestic), total
long tons..
788,176
74,349
Scrap
do
Imports, total
do
Scrap
do
252
Price, wholesale, iron and steel, composite
dol. per long ton.. 38. 15
38.08
Ore
Iron ore:
Lake Superior district:
Consumption by furnaces
5,973
6.501
thous. of long tons..
5,341
7,607
Shipments from upper lake ports
do
45, 535 41,712
Stocks, end of month, total.
do
36,925
40,245
At furnaces
do
4,787
5,290
On Lake Erie docks
do
229
Imports, total
do
Manganese ore, imports (manganese content)§
thous. of long tons..
61
805,158
69,980
4,064
48
698, 853 600,240
45,055
74,378
423
796
17
150
567,227
54,383
6,273
5,401
635,809
120,152
2,620
1,094
38.30
38.38
38.22
38.27
38.15
38.15
38.15
38.15
38.15
38. 15
38. U
6,173
9
36,073
31, 792
4,281
174
6,331
0
29, 794
26,167
3,627
155
5,673
0
24,195
21,100
3,096
178
6,412
0
17, 761
15,407
2,353
182
5,802
6,919
16, 937
15,002
1,935
185
6,232
11,007
21,817
19, 551
2,266
180
6,231
10,731
26,630
23, 919
2,710
225
6,497
11,331
31, 597
28, 257
3,341
196
6,534
11,430
36,469
32,457
4,012
223
6,448
10, 243
40, 770
36,106
4,664
206
6,611
9,564
43, 94C
38, 852
5.094
59
45
31
49
15
53
50
33
65
62
Pig Iron and Iron Manufactures
Castings, malleable:
68,945
70, 52£
64, 283
77, 312
Orders, new
short tons.. 60, 745 64, 612 66, 665 81,089
76,055 86, 293 84, 751 83,218
75,075
68,750
69,175
84, 29f
Production
do
66,208 76,170 70,278 71,209 67.010
66, 738 57, 717 60,155 68, 742 63,331
64,250
82,00'
67, 532
68, 310
Shipments
do
71,740
68, 983 56, 321 60,127 65, 884 62,066 67,415 73,066
70,179
Pig iron:
Furnaces in blast, end of month:
Capacity
short tons per day.. 156,855 148,000 146, 770 152,040 148, 555 152,750 140, 310 151,000 153,600 153,190 155,020 157,165 156, 26,
213
211
216
Number
205
202
195
206
21215
202
201
205
211
§Data for 1939 revised; for exports see table 14, p. 17 and imports see table 15, p. 18 of the April 1941 issue.
' Revised.
fRevised series. Revisions for 1939 and January and February 1940 for southern pine, western pine, and west coast woods, and also revisions for 1938 for the latter group,
appear in table 17, p. 17 of the May 1941 issue.
*New series. These prices replace series shown in the Survey through the February 1941 issue; data beginning 1922 appear in table 16, p. 17 of the May 1941 Survey.
S-31
SURVEY OF CURRENT BUSINESS
January 1942
Monthly statistics through December 1939, to- 1941
1940
gether with explanatory notes and references
to the sources of the data, may be found in the Novem- Novem- December
ber
ber
1940 Supplement to the Survey
1941
January
February
March
April
May
June
July
August September
October
METALS AND MANUFACTURES—Continued
IRON AND STEEL—Continued
Pig Iron and Iron Manufactures—Con.
Pig iron—Continued.
Prices, wholesale:
Basic (valley furnace)_,_.dol. per long ton..
Composite
do
Foundry, No. 2, northern (Pitts)
do
Production!
..thous. of short tons..
Boilers and radiators, cast-iron:
Boilers, round:
Production
..thous. of lb_.
Shipments
do
Stocks, end of month
.do
Boilers, square:
Production
-do
Shipments
do
Stocks, end of month
do
Radiators, ordinary type:
Production.thous. of sq. ft. heating surface..
Shipments
do
Stocks, end of month
do
Boilers, range, galvanized:
Orders, new, net
number of boilers..
Orders, unfilled, end of month
do
Production
do
Shipments
do
Stocks, end of month
do
23.50
24.15
25.89
4, 703
22.50
23.15
24.89
4,403
22.90
23.15
25.29
4,548
23.50
23.95
25.89
4,664
23.50
23.95
25.89
4,198
23.50
24.00
25.89
4,704
23.50
24.15
25.89
4,334
23.50
24.15
25.89
4,600
23.50
24.15
25.89
4,553
23.50
24.15
25.89
4,771
23.50
24.15
25.89
4,791
23.50
24.15
25. 89
4,717
23. 50
24.15
25. 89
4,856
1,133
1,922
11,168
2,416
2,451
10, 622
1,934
1,884
11, 021
2,071
1,608
11, 687
1,920
1,222
12, 391
2,252
1,092
13, 256
2,214
1,358
14,107
1,826
1,167
14, 834
1,741
1,474
15, 096
1,863
2,003
14, 951
1,936
2,669
14,024
2,148
2,741
13, 405
2,091
3,483
11,912
21,104
24, 502
93,669
23, 788
26,059
80,064
18,964
18, 547
80,564
23,443
14,437
89, 300
22,579
13,086
99,040
22, 647
13,489
106,958
23, 525
13, 360
117,058
25, 254 25, 319
16,861
20, 382
125,448 130,339
21, 514
26,426
125, 376
26, 505 27, 591
38, 894 r 34, 899
113,130 105, 759
29, 461
37, 360
97, 896
5,787
7,695
18, 271
8,042
8,952
22,103
6, 245
6,537
21,831
7,244
5,839
23,461
6,744
4,891
25, 393
6,871
4,371
27,890
6,967
4,495
30,375
7,385
5,621
32,140
7,133
6,453
32,817
6,151
8,671
30, 263
7,098
11,696
25, 584
7,675
10, 901
22, 394
8,267
10, 494
20, 154
52, 605
93,966
58,810
60, 248
16,411
75,369
35, 220
80,371
82, 243
36, 616
70,989
38, 795
72,245
67,414
41,447
89, 748
45,615
80,705
82,928
39, 224
80,583
50,777
74,113
75,421
37,916
94, 992
60,419
82,820
85, 350
35,386
69,433
46,448
86,459
83,404
38,441
89,159
52,966
81,495
82,641
37, 295
105,076
72, 258
80,023
85,784
31, 534
85, 077
77, 809
72,970
79, 526
24, 978
68,854 80, 046 74, 581
86,451 101,016 101,609
63, 729 58, 635 69, 972
60,212 65, 481 73, 988
17, 599
28,495 21.615
94,929
81.1
27,718
81,192
69.4
32,066
115, 343
98.6
45,154
85,810
73.3
33,932
110, 579
94.5
34,887
94,409
80.7
35,397
105,125
89.8
29,103
85,492
73.0
28,692
126,140
107.8
47,408
95,185
81.3
30, 733
152,007
129.9
59,551
101,977
87.1
34, 204
153,143
130.8
70.191
104,971
89.7
37.192
161, 512
138.0
80,065
113,988
97.4
45,073
175, 892
150.3
77,669
112, 364
96.0
43, 320
147, 316 115, 066 117, 516
100.4
98.3
125.9
52, 207 32, 882 32,935
117, 703 118, 543 135, 272
115.6
101.3
100.6
44, 290 43, 995 49, 891
6,469
97
6,495
94
6,928
97
6,238
97
7,132
100
6,757
98
7,053
99
6,801
98
6,822
93
7,001
96
Steel, Crude and Semimanufactured
Castings, steel:
Orders, new, total
short tons_.
Percent of capacity
Railway specialties
short tons..
Production, total
do
Percent of capacity
Railway specialties
short tons..
Steel ingots and steel for castings: t
Production
thous. of short tons..
Percent of capacity§
Prices, wholesale:
Composite, finished steel.
dol. per lb_.
Steel billets, rerolling (Pittsburgh)
dol. per long ton..
Structural steel (Pittsburgh)...dol. per lb_.
Steel scrap (Chicago)
dol per long ton..
U. S. Steel Corp., shipments of rolled and
finished steel products!--thous. of short tons..
6,970
98
6,820
96
7,243
99
.0265
.0265
.0265
.0265
.0265
.0265
.0265
.0265
.0265
.0265
.0265
.0265
.0265
34. 00
.0210
18.75
34.00
.0210
20.06
34.00
.0210
20.60
34.00
.0210
20.00
34.00
.0210
19.25
34.00
.0210
19.88
34.00
.0210
18.95
34.00
.0210
18.75
34.00
.0210
18.75
34.00
.0210
18.75
34.00
.0210
18.75
34.00
.0210
18.75
34.00
.0210
18. 75
1,624
1,425
1,545
1,682
1,548
1,720
1,688
1,745
1,669
1,667
1,754
1,664
1,851
1,762
1,586
773
1,604
20
402
1,457
78.9
1,455
42
486
1,452
77.8
1,442
52
370
1,454
76.7
1,444
63
276
1,035
54.6
1,046
52
315
1,072
56.6
1,077
47
428
1,463
77.2
1,474
37
1,584
83.6
1,582
39
1,214
1,619
79.0
1,619
39
1,317
1,558
76.0
1,549
48
1,497
1,590
77.6
1,600
37
1,492
1,713
83.5
1,711
40
1,850
1,781
86.9
1,777
43
3,522
1,294
2,339
1,336
2,560
1,372
1,586
1,415
2,270
1,601
1,411
1,246
1,747
1,131
1,348
95S
Steel, Manufactured Products
Barrels and drums, steel, heavy types:
Orders, unfilled, end of month
thousands..
Production
do.
Percent of capacity
Shipments
thousands..
Stocks, end of month
do
Boilers, steel, new orders:
Area
thous. of sq. ft.Quantity
number...
Furniture, steel:
Office furniture:
Orders, new
thous. of dol._
Orders, unfilled, end of month
do
Shipments
do
Shelving:
Orders, new
do
Orders, unfilled, end of m o n t h . .
do
Shipments
do
Porcelain enameled products, s h i p m e n t s !
thous. of dol...
Spring washers, shipments*
do
Steel products, production for sale:f
Total
thous. of short t o n s . .
Merchant bars
do
Pipe and tube
do
Plates
do
Percent of capacity*
Rails
thous. of short tons_.
Sheets, total
do
Percent of capacity
Strip:
Cold rolled
thous. of short t o n s . .
Hot rolled
do
Structural shapes, heavy
do
Tin plate
do
Wire and wire products
do
Track work, shipments
short tons__
r
3, 755
1,310
1,722
1,026
1,563
835
2,210
994
1,500
845
3,422
6,840
3,912
3,336
2,181
2,884
4,357
2,983
3,583
3,787
3,618
3,152
3,852
4,102
3,368
5,050
5,330
3,821
3,889
5,210
4,010
4,667
5,579
4,298
5,851
7,335
4,095
4,981
7,939
4,349
1,678
1,016
718
652
665
844
658
790
924
779
804
940
829
890
1,204
1,103
929
1,346
1,383
1,066
1,278
1,454
1,207
1,525
1,850
1,130
1,182
1,932
1,082
1,765
1,166
1,284
2,022
1,027
987
1,837
1,173
5,371
276
4,030
233
4, 256
248
4,496
281
4,393
303
5.310
320
5,456
331
5,491
355
5,511
375
5,608
366
5,807
338
5,802
348
6,208
321
4,909
456
415
564
12, 218
135
945
87.5
4,480
444
377
430
86.5
114
1,047
97.4
4,619
437
384
443
86.8
131
1,050
95.1
4,863
519
409
431
82.6
156
1,122
101.0
4, 587
455
384
416
88.1
154
1,074
107.3
5,046
463
436
454
87.0
177
1,177
107.3
4,942
470
453
445
88.0
194
1,148
107.8
5,085
471
461
479
91.9
185
1,140
103.9
4,754
439
449
466
92.2
168
999
93.8
4,919
443
480
482
90.6
151
991
90.4
5,234
447
485
532
99.7
146
1,018
92.4
5,059
431
464
519
112.2
127
954
88.5
5,471
503
531
587
124.1
161
1,053
94.1
101
140
381
323
396
11,711
83
138
374
200
350
5,733
89
139
331
203
374
7,151
95
153
363
209
409
6,835
91
139
322
205
379
7,973
102
155
374
252
431
10, 225
104
144
383
265
412
11,751
107
160
406
287
434
11,012
102
154
373
292
417
11,210
99
137
366
332
404
10, 642
106
130
391
360
434
10, 236
104
134
372
325
420
10, 439
110
136
407
342
432
12, 403
r 4, 599 r 3, 932
r 8, 085 r 7, 786 ' 7, 329
r 4, 452 r 4, 314 r 4,352
Revised. *Data are lor 7 manufacturers beginning January 1940.
t Monthly data beginning 1929, corresponding to the monthly averages on p. 132 of the 1940 Supplement, appear on p. 18 of the April 1940 Survey.
§ Beginning July 1941, percent of capacity is calculated on annual capacity as of June 30, 1941, of 86,144,900 tons of open-hearth, Bessemer, and electric steel ingots and
steel for castings.
t Revised series. Data on pig-iron production converted from a long to a short tonnage basis; data beginning 1913 are shown in table 38, p. 14, of the October 1940 issue.
Steel production and percent of capacity revised completely; for revision through 1939 see table 9, p. 16 of the March 1941 issue; for revisions in 1940 data see p. 49 of the June
1941 issue. Porcelain-enameled products revised beginning 1939 to include data for 99 manufacturers; for 1939 data, see p. 49 of the March 1941 issue. Steel products, production for sale, have been convened to a short tonnage basis; see table 45, p. 14 of the November 1940 issue.
•New series. Earlier monthly data will be shown in a subsequent issue.
S-32
SURVEY OF CURRENT BUSINESS
Monthly statistics through December 1939, together with explanatory notes and references
to the sources of the data, may be found in the
1940 Supplement to the Survey
1941
January 1942
1941
1940
Novem- Novem- December
ber
ber
January
February
March
April
May
June
July
October
August September
METALS AND MANUFACTURES—Continued
NONFERROUS METALS
Metals
Aluminum:
Imports, bauxite
long t o n s . .
50,158
Price, wholesale, scrap, castings (N. Y.)
dol. p e r l b - .
.0931
.0904
Bearing metal (white-base antifriction), consumption and shipments, total (60 manufac4,754
3,905
turers)!
thous. oflb..
723
622
Consumed in own plants (38 mfrs)
do
1,751
Shipments (38 manufacturers)
do
2,548
Copper:
17,903
Exports, refined and mfrs.§short tons..
32,790
Imports, total§
do
20, 507
For smelting, refining, and export§__.do
12, 283
For domestic consumption, total*
do
8,242
Unrefined, including scrap*
do
4,041
Refined*
do
Price, wholesale, electrolytic (N. Y.)
.1180
dol. p e r l b . .
.1178
Production:
Mine or smelter (including custom intake)
84,283
short tons.- 84,020
84, 799 96,283
Refinery
do
123,168 102,483
Deliveries, refined, total
do
123,168 102,483
Domestic©"...
do
0
Export
do
72, 352 158,418
Stocks, refined, end of month
do
Lead:
Imports, total, ex. mfrs. (lead content)..do
19,084
Ore:
40, 930 36,400
Receipts, lead content of domestic ore.do
4, 471
3,446
Shipments, Joplin district^
-.do
Refined:
Price, wholesale, pig, desilverized (N. Y.)
.0585
.0573
dol. per lb_.
45,089
Production from domestic ore--short tons.. 41, 566
45, 980 57, 510
Shipments (reported)
do
13, 671 35,791
Stocks, end of month.
.do
Tin:
Consumption of primary tin in manufac6,220
tures
long tons-.
8,355
12, 505
Deliveries (includes reexports) •
do
10, 701
Imports, total (tin content)*
do
374
Ore (tin content)*
do
10,327
Bars, blocks, pigs, etc
do
.5056
.5200
Price, wholesale, Straits (N. Y.)_.dol. per lb._
40,046
Visible supply, world, end of mo ..long t o n s . .
4,362
"2," 186"
United States (excluding afloat)
do
Zinc:
12,
492
Imports, total (zinc content)*
short tons
For smelting, refining and export*
do
5,728
For domestic consumption:
6,309
Ore (zinc content)*
-do
455
Blocks, pigs, etc., and old*
do
Ore, Joplin district:1
37,267
29,
538
Shipments
short tons- _
5,130
17, 045
Stocks, end of month
do
Price, wholesale, prime, western (St. Louis)
. 0825 .0725
dol. p e r l b - .
Production, slab, at primary smelters: J
61, 502
short t o n s . . 74, 710
66,064
Shipments, totalt
short t o n s . . 73,122
60,913
61,200
Domestic*
do
23,182
22, 498
Stocks, refinery, end of month %
do
97,668
86,978
62,051
72,043
83,400
49,732
121,484
95, 794
90,960
86, 462
.0970
» .1039
.1397
<•)
.1100
.1100
.1100
.1100
.1100
.1100
3,921
614
1,682
4,060
507
2,053
4,336
529
2,138
6,270
625
2,632
6,505
999
3,431
6,480
991
2,874
6,378
750
2,806
5,538
699
2,838
5,767
983
2,696
5,830
911
3,066
13, 395
25,945
12,648
13, 297
8,369
4,928
22,382
27,357
19,120
8,237
6,056
2,181
18,095
23,684
6,693
16, 991
11,173
5,818
7,046
49,188
11,359
37, 829
25, 754
12, 075
8,907
87,051
18,086
68,965
30, 804
38,161
12,286
54,981
9,637
45, 344
23,083
22, 261
8,120
41, 472
32, 476
16, 969
15, 506
11,077
69,838
16,470
53,368
16,233
37,135
10, 589
71,153
13, 373
57, 780
19, 872
37,907
10,198
70, 581
15, 546
55, 034
20, 063
34,971
.1180
.1182
.1179
.1181
.1182
.1182
.1181
.1181
.1178
.1178
79,240
85,135
97,035
93,840 93,654
112,681 119, 758 112,819
112,671 119, 736 112,808
11
10
22
142, 772 116, 854 97,689
85, 701
95,322
134,339
134, 333
a
89,873
88,042
89, 687
123,629
123, 580
49
98,789
90,342
89,390
144,293
144,293
Q
93,076
82, 558 82, 099 84, 695 81, 839
85,426 81, 553
88, 560 86,879
115,139 143,122 117,486 121, 021
115,097 143,089 117,486 121, 021
0
0
33
42
74,384 71,930 63, 670
98,164
19,205
19, 707
14,321
27,991
39,764
40,553
33, 374
22,160
47,891
65, 519
38,847
4,079
38,433
4,652
34,705
3,915
38,282
3,778
38,665
5,126
38, 779
3,653
37,155
3,824
36,464
5,482
38, 228
4,576
38, 259
5,603
.0550
47, 208
56, 755
40,926
.0550
54,658
55,711
47,248
.0560
47,764
54,859
46,604
.0577
46, 748
62,090
45,996
.0585
43,423
59,169
42,899
.0585
46,104
69,382
34,018
. 0585
38, 669
57, 969
24, 265
.0585
42,048
54,067
19,172
.0585
39,100
55,005
15, 330
.0585
41, 373
47,093
13,148
6,210
9,358
14, 756
252
14, 504
.5011
44, 678
9,179
6,600
12, 760
12, 378
323
12, 055
.5016
44, 719
9,442
12,195
9,906
70
9,836
.5140
44,107
7,489
8,130
16,092
14,100
204
13, 896
.5205
39,971
5,195
8,390
13,955
17, 718
2,471
15, 247
.5196
38, 788
5,016
8,860
10,490
13, 069
9
13, 060
.5216
40,777
7,205
8,560
12, 575
16, 285
1,520
14, 765
.5335
8,830
13, 625
17, 719
6,144
11, 575
.5236
8,830
12,715
14,311
2,115
12,196
.5200
11,431
3,464
10, 942
3,011
13. 841
3,880
14, 752
2,011
20, 426
1,987
28,447
18, 734
7,900
14, 880
15, 266
3,714
11, 552
.5267
38, 600
2,846
14, 745
8,372
2,349
5,618
7,133
799
8,715
1,245
6,537
6,205
13, 768
4,671
5,665
4,048
40,975
3,900
42,163
5,597
33, 296
7,091
38, 566
4,495
46, 944
2,651
35,196
4,600
5,864
2,393
1,767
11,415
5,624
22, 741
8,040
24,342
11, 704
2,638
3,735
2,362
3,428
10, 935
3,766
9,223
3, 415
36, 928
5,000
44,882
4,730
37, 655
5,250
45,250
8,160
.0725
.0725
.0725
.0725
.0725
.0725
.0725
.0725
.0725
.0725
65, 354
70, 270
64, 984
17, 582
66,121
68, 844
63, 930
14, 859
61, 603
65,818
57, 663
10,644
70, 341
67, 640
65,011
13, 345
68, 543
70,414
65,035
11,474
73,449
73,090
61, 696
11,833
70,837
71, 569
61, 546
11,101
74, 641
71,894
62, 714
13,848
75, 524
71,403
61,061
17, 969
73, 225
71, 767
64, 673
19,427
10, 232
32, 017
.192
10, 567
29,452
.193
12,429
35,139
.195
13,389
38, 253
.195
14, 938
33, 270
.195
15,558
29,576
.195
15, 390
30, 535
.195
15. 308
30, 762
.195
15,672
30,891
.195
17,180
30, 646
.195
16. 388
28, 981
.195
456
1,066
482
804
433
978
518
763
704
1,105
572
680
703
1,317
484
773
1,493
594
720
974
1,801
665
736
1,061
2,153
707
764
1,352
2,733
764
747
1,378
3,330
826
672
1,971
4,451
844
642
1,880
5,481
840
629
Miscellaneous Products
Brass and bronze (ingots and billets):
Deliveries
short tons..
Orders, unfilled, end of month
do
Sheets, brass, wholesale price, mill.dol. per Ib_.
Wire cloth (for paper industry):
Orders, new
thous. of sq. ft..
Orders, unfilled, end of month
do
Shipments
do
Stocks, end of month
do
.195
971
679
624
MACHINERY AND APPARATUS
6,541
Blowers and fans, new orders
thous. of doL.
6,501
8,816
Electric overhead cranes:
2,098
1,131
2,239
4,172
2, 640
2,291
2,374
1,497
2,265
Orders, new
do.
2,064
749
1,769
13, 731
8,563
11,034 12, 225
5,087
10,174
Orders, unfilled, end of month
do.
13, 298
12, 825
12, 961 13, 744 13,498 13, 814
1,923
1,364
1,955
1,102
825
615
1,030
1,063
Shipments
do.
1,217
1,235
1,287
1,678
Exports, machinery. (See Foreign trade.)
Foundry equipments
363. 8
312.9
408.5
254.2
257.8
281.1
315.2
285.3
377.2
New orders, net total
1937-39=100
298.7
358.1
281.1
372.0
298.2
417.4
276.1
278.8
301.8
295.9
329.3
405.3
New equipment
do
368.4
291.2
273.3
339.2
356.9
381.7
203.2
235.8
188.7
236.6
292.5
326.9
272.7
Repairs
do
321.0
304.7
Fuel equipment and heating apparatus:
Oil burners:
22, 705 17,016
18, 513 16, 328 22,013
23, 642
Orders, new, net
number,- 20,155
36,194
32, 521 28, 511 31,140 34,143
16,747
7,562
8,043
10, 353 10, 590 14,443
15, 266
Orders, unfilled, end of month
do
22, 612
22,448 23,114 22, 885 22, 321
21,766
24,199
16,535
16, 203 16, 091 18,160
22,819
Shipments
do
28,848
32, 685 27,845 31,369 34, 707
27,304
18,415
16, 860 18,027 19, 941 22,871
Stocks, end of month..
do
23,701
25, 682
27,202 33,017 31,940 27, 294
42
44
52
44
43
56
47
72
Pulverizers, orders, new
do
33
84
61
Mechanical stokers, sales:
26,
720
28,
244
10,613
10,
596
6,103
5,408
9,710
5,330
9,917
14,137
26,050
Classes 1, 2, and 3
do
21, 387
Classes 4 and 5:
418
487
254
264
249
171
177
215
222
403
234
Number...
400
53,020
51,671
56, 011 42, 510 52, 894
63, 238
Horsepower
55,387
93, 515 91,051 91,429 83, 222
45,487
' Revised.
tData for January, April, July, and September 1941 are for 5 weeks; other months, 4 weeks.
2 Average for 14 days.
3 Average impossible due to lack of offerings part of month. § Data revised for 1939; for exports see table 14, p. 17 and for imports see table 15, p. 18 of the April 1941 issue.
{Revised to include foreign ores beginning January 1940; see p. S-32 of October 1941 Survey for earlier data. & Beginning March 1941, includes duty-paid foreign copper.
•New series. Earlier data for the new breakdown of copper imports and the new series for tin and zine imports will appear in a later issue. For domestic shipments of
zinc beginning January 1940, see p. S-32 of the October 1941 Survey.
fRevised series. Data beginning January 1939 for the new series on bearing metal will be published later (see also note marked with a "f" on p. S-32 of tne JJecemoer m i .
Survey). For series on foundry equipment, see note marked with a "f on p. S-32 of the September 1941 issue.
• Represents deliveries of foreign virgin tin; virgin tin produced in the United States from foreign ores is not included.
January 1942
S-33
SUKVEY OF CURRENT BUSINESS
Monthly statistics through December 1939, to- 1941
1940
gether with explanatory notes and references
to the sources of the data, may be found in the Novem- Novem- Decem1940 Supplement to the Survey
ber j
ber
ber
1941
January
February
March
April
June
May-
July
August SeptemOctober
ber
METALS AND MANUFACTURES—Continued
MACHINEEY AND APPARATUS—Con.
Fuel equipment and heating apparatus—Con.
Unit heaters, new orders
thous. of dol
Warm-air furnaces, winter air-conditioning
systems, and equipment, new orders
thous. of doL.
Pumps and water systems, domestic, shipments:
Pitcher, other hand, and windmill pumps
units. . 36, 741
1,407
Power pumps, horizontal type
do
Water systems, including pumps
do
19,927
Pumps, steam, power, centrifugal, and rotary:
Orders, new
thous. of doL.
ELECTEICAL E Q U I P M E N T
Battery shipments (automotive replacement
only):
Unadjusted...
1934-36=100..
Twelve-month moving totalf
do
Domestic appliances, sales billed:
Combined index, excluding refrigerators:*
Unadjusted index
_._1936=100__
Adjusted index.
do
Ironers, household
units.. 10,352
Ranges*
d o . . . . 38,350
Refrigerators
do
1-92.017
Vacuum cleaners, floor type
do
110,618
Vacuum cleaners, hand t y p e . . .
...do
20,367
Washers, household
do
103,288
Electrical products:
Industrial materials, sales billed...1936=100..
Motors and generators, new orders
do
Transmission and distribution equipment,
new orders
1936=100..
Furnaces, electric, industrial, sales:
Unit
kilowatts..
8,617
Value
thous. of doL.
646
Electrical goods, new orders (quarterly)
thous. of dol..
Laminated fiber products, shipments d o . .
2,997
Motors (1-200 hp.):
Polyphase induction, billings X
do
Polyphase induction, new orders X
do
Direct current, billings
do
Direct current, new orders
do
Power cable, paper insulated, shipments:
Unit.
thous. of ft..
1,067
Value
thous. of dol..
1,536
Rigid steel conduit and fittings, shipments*
short tons..
Vulcanized fiber:
3,525
Consumption of fiber paper
thous. of lb_.
1,031
Shipments.
thous. of doL.
6,086
3,772
4,424
6,482
15,168
8,651
10, 857
18,973
30,134
906
15,477
20,813
969
11,511
44, 332
887
17,666
41, 504
849
16,703
41,318
917
18, 748
43, 601
1,483
20,953
40,884
993
23,889
36, 475
975
24,453
46, 572
1,176
25,802
45, 682
1,209
24, 612
39,527
1,295
24,386
41,360
1,376
24, 761
3,025
4,042
5,648
4,482
4,820
3,923
5,298
2,613
3,113
3,692
2,459
2,394
133
160
138
102
131
81
130
81
132
82
133
95
135
137
139
167
142
228
145
246
149
253
152
91.1
128.6
18, 925
25, 248
79,815
112,309
39,376
100, 787
88.4
128.5
23,191
24, 626
115,236
125,037
36,274
92, 474
148.2
223.9
164.8
262.0
202.7
199.6
193.2
157.7
192.1
206.4
157.7
203.9
158.6
144.3
183.9
204.5
193.3
167.8
162.9
169.0
161.5
181.3
145.6
158.8
14, 545 15, 916
20,986 20,492
17,166 21, 789 21, 767 20,283 21, 246 18,478
64,476
50, 759 66, 206 51, 730
51, 790 61, 647 65, 692 65,359
50,516
376, 214 358,402 423,010 482, 587 433, 670 378, 054 339,421 270, 543 164, 521 132,972
117,408 129,302 178,045 165, 672 156,816 146, 889 155,843 150, 620 182,550 127,190
31,977 27, 686 33,239 21, 730
30,177 34,696 46,284 44,602 42,394 35,783
133,411 155, 546 191,325 213, 611 206,030 188, 365 213,862 148,811 145,194 147, 390
187.4
220.6
194.5
275.9
223.3
342.3
234.4
263.2
251.7
429.7
237.1
406.5
240.8
444.1
243.0
307.0
' 254.5
'370.0
272.8
332.8
214.2
219.8
273.0
355.8
250.9
329.7
303.0
289.1
335.9
288.8
360.4
384.7
12, 228
1,043
31,866
1,766
10, 516
924
21,508
1,719
31, 595
1,402
13, 774
997
646
11, 626
945
11, 644
976
18, 312
1,522
22, 291
1,733
12,924
1,060
1,812
514,816
2,023
2,123
554,115
2,606
2,659
2,896
581, 675
2,791
2,822
2,803
629,028
3,102
3,363
3,524
4,628
1,297
2,209
4,358
6,397
1,412
2,065
4,121
4,635
1,399
1,862
4,353
5,829
1,381
2,738
4,679
7,523
1,762
2,882
5,044
6,195
1,369
2,060
5,583
7,351
1,793
3,595
5,455
7,750
1,725
4,257
5,983
6,200
1,867
4,512
5,765
5,825
1,761
3,395
6,016
6,560
1,843
3,057
6,903
2,314
2,903
586
739
1,167
1,083
1,172
1,284
1,457
1,209
1,253
1,373
1,595
1,370
1,751
1,321
1,655
1,510
1,860
1,418
1,729
1,244
1,807
1,487
2,052
18,848
19, 262
18, 291
19, 468
20,791
22, 633
24, 310
26,838
26, 540
27,681
28,879
26, 412
2,742
716
2,981
805
3,088
926
3,012
3,448
1,029
3,471
1,158
3,635
1,177
3,762
1,100
3,595
1,178
3,683
1,302
3,785
1,183
3,958
1,202
PAPER AND PRINTING
WOOD PULP
Consumption and shipments: • §
Total, all grades
short tons..
733, 300
724,000 769, 700 721,200 811,700 818, 200 851,400 813, 500 809,900 844, 400 805,300
Chemical:
Sulphate, total
_do
332, 000 322, 700 342, 400 320, 500 362, 200 364, 900 387,000 369, 800 362,400 387, 700 367,400 396,100
Unbleached
_
do
280,900 272,900 288, 200 267,000 303,900 306, 800 326,900 309,800 304,300 327, 200 313, 000 339,000
Sulphite, total..
_
do
217, 000 214,400 223. 700 214, 000 242, 600 242,100 248, 000 241, 400 247, 000 252,400 240,600 262,000
Bleached
_do
129, 300 127, 300 131, 600 124, 500 146, 000 146, 600 148, 700 143,800 148,500 151,400 140,800 155, 600
50,700 52,500 52,700 52,500 54,300 51,400
Soda
do
47,300 49,400 45, 400 51,000
39, 900
Groundwood
_
...do
144,400 139, 600 154,200 141, 300 155,900 160, 400 163,900 149,600 148,000 150,000 145,800 163, 300
Exports, total, all grades*
do
36,627 23, 501 24,870 37, 999 48, 738 24,175 14,174 35,387 19,378
13, 828
28,244
85,136 95,175 105, 031 90, 501 109,831 98, 027
72,493 69,821 84,967
70,686
Imports, total, all grades*
do
70, 549
Chemical:
Sulphate, total*
do
13, 659 16, 287 14, 431 15,194 16,447 11,858 15, 255 14, 530
15,671
12, 521
14,438
9,757
Unbleached*
_
do
10, 552
7,799
9,845
9,942 11,903
8,001
10, 268
10, 465
7,872
8,414
Sulphite, total*
.do....
53,184 61,300 70, 598 57,369 75,111 65,158
46, 423
44, 520 45,907 45, 554 55,699
Bleached*...
do
30, 575 33, 692 35,219 28, 930 38,055 32, 524
28, 227 30,156
27, 399
23, 603 25,859
Unbleached*
do
19, 024
20, 917 20, 048 17, 327 25, 543 22, 609 27, 608 35, 379 28,439 37, 056 32, 634
Groundwood^.
do
16, 732 20,149 17, 626 16,804
16,394
U,731
9,495
17,629
10, 745
11,030
10.199
Production^
Total, all grades
do
747,843 730, 039 790, 314 717,077 806, 901 811,718 846, 416 805, 978 777,045 820,838 791, 658
Chemical:
Sulphate, total..
do
330, 032 325, 338 355, 713 323, 258 360, 073 353, 677 377,850 366, 582 355, 782 384,432 366,362 396,929
Unbleached
.
do
278, 315 276, 415 299, 429 270, 902 301, 654 295, 010 317, 245 307,094 298,831 323, 509 312,395 338, 740
Sulphite, total
do
218, 582 207, 370 225, 486 203,113 237, 479 238, 546 244,139 239, 636 235,400 247,231 240, 272 263.129
Bleached
do
125, 360 121, 677 135, 873 120, 598 140,900 143, 227 146, 712 145, 247 140,525 147, 235 141,729 155,239
Soda
do
53,152 52,160 50,913 ' 54,775 50, 295
41,104
47, 844 48, 304 44, 547 51. 024 50,319
Groundwood
do
158,125 149, 487 160, 811 146,159 158, 325 169,176 171, 275 147, 600 134,950 134,400 134,729 155, 263
Stocks, end of month :§
Total, all grades
do
170, 500 176, 700 197, 500 193,300 188, 500 182, 000 177, 000 169, 500 136,700 113,100 99,400
Chemical:
Sulphate, total.
.do
14, 500 15, 300
51,100 49,000 37, 800 28, 600 25,400
18.900 15,500
32, 300
35, 000 48,400
Unbleached
do
10,100
9,900
10,700
14,400
27, 600
19,900
31,100 42, 400 46. 300 44,100 32,300 22,600
Sulphite, total
do
85, 300
69, 200 64,000 60, 400 56, 600 54, 800 43,100 38,000 37, 600 38, 700
78,200 80,100
Bleached
_
do
48, 600
42, 900 47.200 43, 300 38, 200 34, 800 32, 900 34, 400 26, 300 22,100 23,100 22,700
Soda.
do
4,900
6,100
7,000
8,700
7,500
7,400
9,400
7,700
5,600
8,200
7,200
Groundwood
.do
44,200
54,100 60, 800 65, 600 68, 000 76, 800 84,100 82,100 69,100 53, 500 42,400 34, 400
3.71
Price, sulphite, unbleached
dol. per 100 lb_.
3.53
3.46
3.46
3.46
3.71
3.46
3.46
3.46
3.46
3.46
3.46
3.71
r Revised.
* Preliminary.
•Domestic pulp used in producing mills and shipments to market.
jsnown in iyw supplement and monthly issues through February 1941 as A. C. motors. IData revised for 1939; see table 15, p. 18 of the April 1941 issue.
*New series. For data beginning 1931 on unit sales of electric ranges, see table 52, p. 18 of the November 1940 issue (for revision in note regarding coverage of the data,
see note marked with an "*" on p. S-33 of the October 1941 Survey). Data beginning 1937 for shipments of rigid steel conduit and fittings are shown in table 34, p. 26, of
the November Survey. Earlier monthly data for the indexes of domestic appliances are shown in table 38, p. 22, of this issue. Data beginning 1913 for wood pulp are
shown on p. 13 of the October 1940 issue.
§Data on consumption, production, and stocks have been revised for 1939 and 1940 to adjust monthly figures to annual census data on production. The revised data will
be published in a subsequent issue.
tRevised series. This series replaces the adjusted index; earlier data will appear in a subsequent issue.
S-34
SUKVEY OF CURRENT BUSINESS
1940
Monthly statistics through December 1939, to- 1941
gether with explanatory notes and references
to the sources of the data, may be found in the Novem- Novem- December
ber
1940 Supplement to the Survey
ber
January 1942
1941
January
February
March
April
May
June
July
August
September
October
PAPER AND PRINTING—Continued
PAPER
Total paper, inch newsprint and paperboard:T
Production
short tons_ Paper, excl. newsprint and paperboard:!
Orders, new
short tons..
Production
do
Shipments
do
Book papericf
Coated paper:
Orders, new
short tons..
Orders, unfilled, end of month
do
Production
do
Percent of standard capacity
Shipments
short tons..
Stocks, end of month
do
Uncoated paper:
Orders, new
do
Orders, unfilled, end of month
do
Price, wholesale, " B " grade, English finish,
white, f. o. b. mill
dol. per 100 lb.Production
short tons..
Percent of standard capacity
Shipments
short tons..
Stocks, end of month
do
Fine paper: t
Orders, new
do
Orders, unfilled, end of month
...do
Production
do
Shipments
do
Stocks, end of month
do
Wrapping paper.-f
Orders, new
do
Orders, unfilled, end of month
do
Production
do
Shipments
do
Stocks, end of month
do
Newsprint:
Canada:
Exports
do
Production
do
Shipments from mills
do
Stocks, at mills, end of month
do
United States:
Consumption by publishers.
..do
Imports
do
Price, rolls (N. Y.)
dol. per short ton..
Production
short tons..
Shipments from mills
do
Stocks, end of month:
At mills
do....
At publishers
do
In transit to publishers
do
Paperboard:
Consumption, waste paper
do
Orders, new
do
Orders, unfilled, end of month
do
Production
...do
Percent of capacity
Waste paper stocks, at mills
short tons..
PAPEB PRODUCTS
Coated abrasive paper and cloth:
Shipments
reams..
PRINTING
Book publication, total
no. of editions..
New books
do
New ed itions
do
Continuous form stationery, new orders
thous. of sets..
Sales books, new orders
thous. of books..
949, 422 908,471 1,002,800 934, 996 1,052,665 1,079,772 1,150,067 1,093,065 1,093,882 1,161,261 M , 137,109 1,240,060
424, 064 417, 776 488, 585 465, 537 565,856 589,695 600,681
420,810 420, 005 466, 697 428,857 479, 531 492,842 532,868
416, 419 415, 625 471,114 438,804 494, 007 506, 087 545,621
20, 300
17, 677
25, 859
96.2
25, 628
13,713
15,990
5,264
16,045
58.0
16, 424
13, 633
16, 968
6,174
17, 726
65.9
15, 967
15, 326
115,160
119,869
97, 667
45, 775
48,845
7.30
136,659
109.8
133,067
47, 271
20,107
8,532
18, 949
73.4
19, 280
14, 622
21.862
9.076
22,167
80.8
22,059
14, 397
117,435 113,640
55, 711 61,920
6.30
99, 298
77.3
95,074
68, 555
6.30
6.30
6.30
96,229 107, 721 104,071
78.8
81.0
86.8
96, 378 109,982 107,359
64,141
61,373
66, 574
42,808
18, 696
42,997
42, 375
64, 936
40, 309
17, 751
42,017
41,078
67,178
20, 546
6,772
19, 636
67.6
19,943
14, 971
49,492
21, 342
45,169
46, 750
66,826
28, 276
14,091
22, 230
81.0
22, 648
13,923
33,039
20,613
23, 971
84.1
24, 579
13,281
558,363 578,353
504,690 507, 063
521, 340 524,349
24,967
24, 741
572, 746 r 550,029 561, 229
532, 553 r 520,047 569,324
541, 964 ' 526,069 581, 758
28,113
27, 503
25, 248
91.2
25, 273
12, 637
21, 032
24, 772
24, 791
92.2
24, 692
12, 762
24. 276
2i; 646
29, 049
100.0
28, 703
13, 514
133,970
70,048
150, 707 165,927 139, 598 143, 528 139, 643 134, 790
93,257 119, 533 124,865 136, 394 143, 209 145, 861
135, 649
134,649
6.30
120,879
93.8
125,404
56,721
6.95
6.55
7.30
7.30
6.30
7.30
121,913 134, 371 128,939 126, 564 138, 599 128, 983 145, 887
101.6
107.2
100.6
95.4
105.0
111.0
105.1
127, 587 136, 296 130, 589 129, 224 136,180 132, 720 146, 523
50,754 49, 687 47,614 43,755 47,932
43, 828 43,115
26,132
23, 354
22,913
86.8
23, 388
12,745
6.7
23,905
12, 587
71,168
76, 968 r 65, 561 66, 995
102,591 120, 602 126,104 131,883
49, 769 54, 074 ' 55,145 59,678
53, 664 56, 532 r 56, 064 63, 682
51,194 49,078 r 48, 956 44,123
48, 699
22, 696
42, 604
44,032
65,041
56, 550
35, 612
47, 598
47,819
65,187
67, 507
49, 742
49,112
52, 791
62, 818
68,730
66,475
52,819
55, 580
59, 356
66,947
79, 560
49,186
51,201
57,838
158,156 156, 576 177,007 167,135
77, 967 84,749
89, 722 96, 294
157, 204 154,819 172,622 157,757
156, 992 149, 794 172,176 158, 726
81,870 86, 875 89,015 84, 075
214,238
135, 387
174, 357
177,163
87, 556
219, 505
170,815
179.601
184,015
86, 685
210,195
179, 794
195, 764
201, 330
79, 864
194,352
193,056
181,924
181,928
79,083
195, 280
199, 691
184, 619
186, 706
77,634
195, 492
200, 233
190, 581
195,017
70, 545
183, 054
199, 450
186, 853
185,418
71,809
197,035
191,666
204, 790
205, 921
70, 770
232,197
275, 769
265,724
186,182
276,452
279, 996
285, 789
180, 389
268, 706
284, 767
291,112
174,044
263,660
273,697
281,843
165,898
303,126
293, 483
300, 236
159,145
275,223
293,054
296> 985
155, 214
293,181
298, 276
305. 010
148, 480
321, 664
318,787
304,685
162,582
276, 586 263,450
300, 308 282, 344 252, 897
320,860 286, 739 276, 457
142, 030 175, 931 152, 371
211,022
261, 298
243, 394
170,275
219,464
245, 607
239, 745
176,137
263, 889 251,457 256, 036 229, 799 219, 362 258, 518 256,431 260,827 242,404
257,020 217, 323 192, 240 187,170 221, 542 237, 639 276, 257 252,872
50.00
50.00
50.00
50.00
50.00
50.00
50.00
50.00
50.00
79, 720 87, 376 87, 000 90, 913 83, 962
82, 621 85, 338 80,837 89,124
81, 241 85, 503 91, 487 91, 689 85, 424
84, 331 87, 331 84,037 84,141
9,904 16, 655 13,455
18, 438 16,917
18, 790 14, 303 13, 527 12,065
333,120 327,913 308,880 301,562 284,799 252,856 255, 588 252, 381 277,681
53,459 39,188
47, 592 34, 719 42,163 44,312
46, 679 51,197 49,687
322, 991 275, 353 322, 408 310, 969 371, 253 357, 091 377, 595 374,185
426, 614 393,026 520.931 470, 671 543, 988 580,038 572, 522 525,325
128, 222 115,143 160,561 202,284 252, 611 330, 779 370,151 383, 534
443, 274 407, 629 446,979 426,419 485, 758 499, 930 526, 286 504,413
70.7
75.7
85.4
87.9
89.4
76.1
81.5
92.3
260, 320 269, 755 264, 393 260. 890 253,009 262, 398 269, 737 264, 631
101,925
1,027
916
111
90, 670 106, 890 116.944
1,122
889
233
568
508
60
891
722
137,177
1,310
1,100
210
223,492 157, 474 183, 392 171, 273 192, 228 207, 715
24, 859 17, 405 17, 481 19,947
18,328 j 19,621
129,119
135. 571 130,852
215,012 224,361 239, 098 262,488
247,103 254, 895 242, 570
50.00
50.00
50.00
50. 00
83,199 83, 592 78, 657 87, 068
84, 641 80, 756 80, 252 87, 318
10, 623 13,459
11, 864 11,614
320,602 345,158 341, 884 334, 529
40,451 38, 706 46, 608 46, 570
384, 765
569, 252
435, 891
503, 620
85.6
272, 317
411,073
565,853
452, 966
545.116
95.9
237,339
146, 734 173,022
422, 361
542, 792
444, 736
538, 405
95.0
218, 257
464, 446
595, 634
446, 033
583, 668
98.9
189,163
141, 985 138,555
894
695
985
903
1,051
593
774
780
708
887
102
211
123
186
164
262,
591
195,
361
219,326
271,
203 299, 591
188,909 203, 327
26, 219 26, 544 27, 878 28, 278
21, 331 24, 470 26,137
918
800
118
RUBBER AND PRODUCTS
CRUDE AND SCRAP RUBBER
Crude rubber:
55, 365
53, 655
68, 653
60,418
Consumption, total
long tons.84,912
57,716
71,365
59,709
62, 692
69, 024
71, 374
65,8
For tires and tubes (quarterly)
do
147,045
118,314
130,060
83,151
Imports, total, including latext
do
97, 081 106, 540
72,901
64, 577
97,984
86,833
73,973
87,123
63, 305 101,404
.226
.232
.227
.222
Price, smoked sheets (N. Y.)
dol. per lb_.
.219
.208
.239
.231
.216
.199
.204
.221
.228
Shipments, world§
long tons.127,364 132, 500 126,880 164, 756
90, 607 139,164 114, 899 126,198
99,817 127,189 126, 575
Stocks, end of month:
Afloat, total
do
250, 000 250, 000 250,000 225,000 240,000 270,000 260, 000 290,000 270,000 250,000 275, 000
90, 591 141, 756 172, 633
For United States
do
158, 095 145,950 153,169 136,955 140, 228 153, 484 147,459 175,499 132, 304
91,478
91, 200
90,021
B r it ish M al ay a
do
77, 471
91,121
75, 560
84, 343 102,425
85,437
95. 322
•375,605
426,
253 455,000 454, 711
339,108
United States *
do
250,412 288, 864 309,411 320, 373 338,147 329, 767 359, 234
Reclaimed rubber:
24, 032
25, 009
21,
725
20,
864
16,312
Consumption
do
22, 559
17, 397
21. 405
19, 086
18,222
19, 611
20,427
24, 678
26, 560
24, 111
Production
do
23, 111
17, 636
19, 239
22, 775
19, 506
22, 006
23, 790
20,413
21, 574
38,
604
38,
055
Stocks, end of month
do
36, 751
31, 459
32, 636
35, 871
33, 654
35,028
35,336
36,265
33, 380
41,176
Scrap rubber consumption
do
46,181
53, 311
* Revised.
i Includes Government reserves.
fRevised series. For revised data for "total paper," "paper, excluding newsprint and paperboard," fine, and wrapping papers beginning 1934, see table 43, pp. 12 and 13,
of the November 1940 Survey.
JFor monthly data for 1913 to 1938, corresponding to the monthly averages on p. 148 of the 1940 Supplement, see table 28, p. 18 of the May 1940 Survey; for revised data
for 1939, see table 15, p. 18 of the April 1941 Survey.
efln recent months the number of companies reporting has fluctuated to such an extent that tonnage figures are not comparable from month to month.
§Beginning with the January 1941 Survey, data for world shipments of crude rubber are from the Statistical Bulletin of the International Rubber Regulations Committee;
earlier data from this source have been in close agreement with data compiled by the Bureau of Foreign and Domestic Commerce, shown in previous issues of the Survey.
S-35
SURVEY OF CURRENT BUSINESS
January 1942
1940
Monthly statistics through December 1939, to- 1941
gether with explanatory notes and references
to the sources of the data, may be found in the Novem- Novem- December
ber
ber
1940 Supplement to the Survey
1941
January
February
March
April
May
June
July
August September
October
RUBBER AND PRODUCTS—Continued
TIRES AND TUBES
Pneumatic casings:
Production
thousands..
Shipments, total
do
Original equipment
do
Replacement equipment
do
Exports
do
Stocks, end of month
do
Inner tubes:
Production
do
Shipments, total
do
Exports
do
Stocks, end of month
do
Raw material consumed:
Crude rubber. (See Crude rubber.)
Fabrics (quarterly)
thous. of lb.
3,964
4,048
1,804
4,043
3,725
3,825
4,377
4,732
4,969
2,435
2,404
130
9,163
4,968
4,991
2,624
2,249
118
9,127
5,486
4,850
2,291
2,430
128
9,797
5,161
4,896
2,546
2,197
153
10,029
5,686
5,517
2,638
2,722
158
10,149
5,839
5,999
2,334
3,487
178
9,958
6,091
7,676
2,700
4,816
160
8,373
6,379
7,602
2,757
4,709
136
7,088
5,578
6,450
1,998
4,309
143
6,235
4,983
5,394
1,122
4,132
140
5,834
4,563
5,259
1,469
3,661
129
5,154
4,834
5,867
1, 994
4,104
4,690
106
7,056
4,656
4,644
87
7,017
5,113
4,474
96
7,633
4,887
4,610
102
7,924
5,349
5,181
137
8,069
5,481
5,358
127
8,143
5,839
6,310
109
7,686
6,264
6,908
104
7,010
5,278
5,917
89
6,357
4,435
4,780
105
6,071
4,143
4,792
90
5,431
4,137
5, 143
6,278
5,668
13,834
4,789
6,366
12,256
5,543
6,990
10,809
5,844
7,422
9,228
6,848
7,433
8,650
75, 475
4,123
4,448
88, 614
83,649
RUBBER AND CANVAS FOOTWEAR
Production, total
Shipments, total
Stocks, total, end of month
thous. of pairs.
do
do
6,362
6,287
8,725
5,146
6,633
11,878
5,369
6,118
11,129
5,939
6,614
10,377
5,543
5,166
10,754
5,827
5,359
11,222
6,628
5,555
12,272
6,084
5,134
13,223
STONE, CLAY, AND GLASS PRODUCTS
PORTLAND CEMENT
Production
thous. of bbl_.
Percent of capacity
Shipments
thous. of bbL.
Stocks, finished, end of month
do
Stocks, clinker, end of month
do
CLAY PRODUCTS
Common brick, price, wholesale, composite,
f. o. b. plant
dol. per thous..
Floor and wall tile, shipments:
Quantity
thous. of sq. ft..
Value
thous. of doL.
Vitrified paving brick:
Shipments
thous. of brick_.
Stocks, end of month
do
GLASS PRODUCTS
Glass containers:
Production
thous. of gross..
Percent of capacity
Shipments, total
thous. of gross..
Narrow neck, food*
do
Wide mouth, food*
do
Pressed food ware*
do
Pressure and non-pressure*
do
Beer bottles*
do
Liquor ware*
do
Medicine and toilet*
do
General purpose*
do
Milk bottles*
do..,.
Fruit jars and jelly glasses*
do
Stocks, end of month
do
Other glassware, machine-made:*
Tumblers:
Production
thous. of doz..
Shipments
do
Stocks
do
Table, kitchen, and householdware, shipments
thous. of doz_.
Plate glass, polished, production
thous. of sq. ft_.
Window glass, production
thous. of boxes..
Percent of capacity
14, 931
72.7
13, 724
17, 624
4, 254
12,725
60.1
10, 372
20, 353
4,558
11,195
51.2
8,192
23, 379
4,886
9,021
42.4
7,984
24,416
5,092
8,345
43.4
7,456
25,307
5,520
10,596
49.8
9,915
25,988
6,276
12,196
59.3
14,132
24,056
6,207
14,732
69.4
16,048
22,745
6,005
15, 223
74.0
16,109
21, 865
5,757
16, 000
74.9
16,687
21,178
5,522
16, 345
76.5
17,825
19,732
5,219
16, 115
78.3
18, 284
17, 561
4,804
16, 688
78.6
17, 833
16, 417
r 4,192
12. 921
12.148
12.195
12. 201
12. 242
12. 328
12.323
12. 404
12. 483
12. 604
12. 723
12. 832
12. 886
5,181
1,344
4,724
1,249
4,565
1,195
4,368
1,117
5,597
1,387
5,219
1,363
6,172
1,629
6,340
1,694
7,192
1,929
6,701
1,890
6,330
1,816
6.497
1,906
5,769
32,031
2,516
30,288
1,801
30, 580
1,015
30,442
1,088
30,402
2,640
30,233
3,612
28,622
3,384
28,778
4,056
28, 711
3,906
27, 813
5,873
24, 630
6,179
100.2
5,281
240
979
42
317
264
1,040
1,758
380
243
3
8,711
4,3£1
67.9
4,077
170
807
31
126
102
1,138
1,230
257
197
4
9,432
4,198
65.5
3,526
138
682
33
189
154
803
1,040
267
198
3
9,988
4,517
65.0
4,178
189
961
41
224
140
589
1,468
337
206
9
10,109
4,368
70.8
4,273
205
909
37
275
167
676
1,433
351
199
8
10,097
5,128
76.7
5,117
240
1,038
42
412
368
843
1,493
434
213
13
9,979
5,325
79.7
5,573
289
1,113
35
633
418
865
1,522
405
229
41
9,612
6,246
93.5
6,402
326
1,212
49
779
548
991
1,609
453
272
136
9,244
6,166
96.0
6,865
358
1,447
47
763
605
1,028
1,695
477
262
165
8,397
6,291
94.1
6,363
489
1,306
44
691
495
834
1,603
398
278
200
8,176
6,791
101.6
6,801
830
1,300
39
480
430
922
1,826
410
301
239
8,052
6,286
97.8
6,902
970
1,249
45
333
396
1,071
1,898
410
342
158
7,321
7,094
102.2
6,315
386
1, 268
55
312
428
1,043
2,038
472
285
10
7,948
4,634
3, 584
7,903
3,056
2,804
8,160
3,199
2,876
8,455
3,200
2,641
8,775
3,694
4,004
8,419
4,200
4,424
8,115
3,838
4,387
7,499
5,548
5,055
V, 896
4,857
4,863
7,820
4,541
4,382
7,899
4,879
4,826
7,872
4,407
4,998
7,208
4,837
4, 937
6, 975
r
3,279
3,006
2,456
2,316
2,905
3,400
3,922
3,372
3,069
2,903
3,857
3,427
4,082
14, 277
16,059
1,264
78.0
17,491
1,458
19,350
1,561
96.2
15, 664
1,397
86.1
18, 266
1,417
87.3
18,344
1,400
86.3
18,394
1,282
78.9
18, 534
1,304
80.3
12, 463
1,281
78.9
14,126
1,267
78.1
14, 906
1,123
69.2
15, 769
1, 524
93.9
G Y P S U M AND P R O D U C T S
Crude:
Imports
short tons..
Production
do
Calcined, production
do
Gypsum products sold or used:
Uncalcined
do
Calcined:
Building plasters
do
Formfg. and industrial uses
do
Keene's cement
do
Board and tile, total
thous. of sq. ft.
Lath
do
Tile
do—
Wallboard
_do_...
175,467
811,500
764,500
326, 248
1,197,689
1,026,987
366, 519
1,335,905
1,099,244
244,975
200, 630
370,482
377, 807
430,090
33,358
6,447
621,
388', 230
6,816
226, 722
373, 503
36,027
6,450
539,000
322, 700
7,100
209,200
523, 218
38, 222
7,672
709, 282
472, 696
11, 267
225,319
577, 840
41, 569
8,
718,415
479, 794
9,133
229, 488
387,969
1,033,403
888,078
TEXTILE PRODUCTS
CLOTHING
Hosiery:
Production
Shipments
Stocks, end of month
thous. of dozen pairs..
_do
do
12,494
12,576
12,
576
21,156
12,579
12,975
23,626
11,279
11,536
23,511
23, 511
12,747
12, 747
11,822
24,527
11,558
11,573
24,603
12,105
12,495
24,304
12,871
12,737
24,530
12,621
11,750
11, 750
25,493
25, 493
12,531
12, 531
11,933
26,183
12,897
12, 897
12,888
26,192
11,495
13,783
23,904
11,969
11, 969
13,766
13, 766
22,107
14,101
14,971
21,238
r
Revised.
• New series. Data for glass containers for the period January 1934-December 1939 are shown in table 49, pp. 16 and 17, of the November 1940 issue; minor revisions for
1940 for wide-mouth food containers and liquor ware not shown on p. S-35 of the September 1941 issue are available on request; earlier data on glassware other than containers
are shown in table 2, p. 17, of the January 1941 Survey.
S-36
SURVEY OF CURRENT BUSINESS
Monthly statistics through December 1939, to- 1941
1940
gether with explanatory notes and references
to the sources of the data, may be found in the Novem- Novem- December
1940 Supplement to the Survey
ber
ber
January 1942
1941
January
February
March
April
May
June
July
August
September
October
TEXTILE PRODUCTS—Continued
COTTON
849, 733 741,170 777, 482 844, 839 793, 428 854, 767 920, 950 923, 518
Consumption
By classes of manufactured products:*
1856, 004 178, 046 162, 785 174, 051 190, 786 191,607
Sales yarn
_
_
do
1226,029 47,114
48, 755 50, 099 54, 743
Duck
do
1313,615 65, 649 62, 736 72, 838 70, 540 73,400
Tire fabrics and cords
do
1568, 629 119, 553 107,894 115, 555 129, 008 125, 845
Narrow sheetings and allied fabrics.-do
1355,881
70, 244 65, 602 70, 726 71,215
71, 382
Wide fabrics
do
1449,117 91,449 81, 743 85, 765 89, 432 85,970
Print cloth yarn fabrics
do
1236, 617 49,769
45,022 46,840
54,320 49,372
Fine goods
do
1189, 250 38, 065 34, 085 36, 495 42,461
39,932
Napped fabrics
do
1294,922
61,465
57,124 60,430
55,156
64,421
Colored yarn fabrics
do
1 92, 364 17, 378 17,692
19,412 19,972
19,881
Towels
do
35,385 32, 358 34, 341 36, 308 32, 580
1169,981
Other woven fabrics and specialties..do
70, 722 80,257
1448,921
92,865 106, 379 114,385
All other cotton products
do
144, 710 112, 557 56,185 68, 568 97, 292 74,009 71, 550
Exports (excluding linters)§.do
9,624
12,026
5,906
14, 210 28,184
Imports (excluding linters) §
do
18,846 30, 853
.095
.097
.158
.094
.093
.094
Prices received by farmers
dol. per lb_.
.105
.117
.104
.170
.108
.100
.102
.107
Prices, wholesale, middling (New York)._do
.113
.129
Production:
9,596
10, 866 11,430
11,931
12, 298
Ginnings (running bales) • „ . t h o u s . of bales..
Crop estimate, equivalent 500-lb. bales
3 12,565
thous. of bales.. 2 10, 976
Stocks, domestic cotton in the United States,
19,503
18,627
17,738
16, 899 15,978
15,003
14,020
total d"
thous. of bales.. 18, 818
2,738
1,840
3,183
1,288
1,043
925
802
843
On farms and in transit cf
-do
13,
915
15,014
14,
697
14,
636
14,
009
13,
209
12,
339
11, 321
Warehouses
_
do
2,165
1,773
1,814
1,847
1,623
1,844
1,862
1,856
Mills
do....
I
875,812
929, 782 874,113
180, 217 194,236
50, 421 51,793
66,194 66,745
120, 290 130,251
72,310 75,151
80, 507 88,358
48,086 52,473
38, 733 41,237
59,899 62,174
19,311
31, 569 33,376
108,275 115,005
75, 236 61,110
26,108 17,243
.128
.143
.144
.164
875, 682
181, 735 189, 949
55,448 51, 955
63, 217 66, 322
124, 757 127, 758
75,479
71,801
82,514 83, 481
48,736 48,122
40,964 40, 657
61,677 62,926
19, 327
18,523
32, 216 31,082
92, 525 78, 624
34,967 189, 215
43, 322 25, 413
.175
.153
.177
4,713
13,099
735
10, 521
1,843
12,031
590
9,640
1,801
21,628
10,774
9,233
1,621
20, 992
7,990
11,453
1,549
COTTON MANUFACTURES
Cotton cloth:
Exports§
thous. of sq. yd__
Imports!
do
Prices, wholesale:
20.34
Mill margins
cents per lb__
.081
Print cloth, 64 x 60
dol. per yd__
.095
Sheeting, unbleached, 4 x 4
do
Finished cotton cloth, production:
Bleached, plain.
thous. of yd.. 170,132
131,727
Dyed, colors
do
6,042
Dyed, black.
do
78,572
Printed
do
Spindle activity:
Active spindles
thousands.. 23,069
9,901
Active spindle hrs., totalmil. of hrs..
409
Average pers pindle in place.
hours.129.4
Operations
percent of capacity..
Cotton yarn, wholesale prices:
.385
22/1, cones (factory)
dol. perlb..
.471
40/s, southern, single, carded, Boston...do
29, 954
11,420
27, 734
7,581
34, 944
7,060
33,937
9,791
38,513
7,796
37, 947
44,972
6,680
39, 039
2,929
41,194
4,275
49, 576
3,075
46, 985
5,535
14.24
.054
.065
14.50
.054
14.94
.055
.067
16.00
.057
.073
18.17
.066
.078
19.81
.072
.084
20.85
21.84
.088
.093
19.06
.078
.095
20.53
.080
.095
20.01
.080
.095
164,079 155, 770 164, 610 159,429 175,144 178,538 182,003 158, 569 168,211 171, 667 185, 786
129, 878 119,889 122, 954 120,108 141,056 146, 235 145, 612 125, 282 134, 584 132,177 138,437
6,304
6,535
5,668
5,528
6,369
6,270
6,543
5,890
6,360
6,113
105,468 108,886 107, 857 107, 358 126, 671 122, 245 119, 222 96, 871 98,704
97, 283 98, 757
22, 686
8,621
351
105.7
22, 799
8,660
353
105.2
22, 829
9,902
404
112.3
22, 777
8,922
365
114.0
.267
.377
.268
.403
.272
.404
.274
.390
22, 806
9,593
393
116.9
22, 807
10, 299
423
120.1
23,004
10, 276
422
121.7
22, 995
9,938
408
121.5
23, 028
10, 537
433
123.0
23,029
10, 253
421
125.3
22, 964
10,407
429
123.7
.366
.430
.365
.433
.373
.433
.413
.475
.429
.481
RAYON AND SILK
Rayon:
35.0
37.0
34.0
38.3
34.8
31.6
35.4
Deliveries (consumption), yarn*...mil. of lb._
40.2
38.7
39.4
38.6
37.3
743
2,466
1,660
1,576
1,774
2,261
1.457
1,611
1,304
576
Imports§
thous. of lb_.
228
Price, wholesale, viscose, 150 denier, first
.550
.542
.530
.530
.530
.530
.530
.530
quality, minimum filament*._.dol. p e r l b . .
.530
.530
.530
.530
4.5
4.9
8.9
6.3
10.0
6.7
10.2
4.6
3.6
7.4
5.8
4.2
Stocks, yarn, end of montht
mil. of lb__
Silk:
4,685
36,374
28,425
23,113
28,
111
25,828
24,
251
28,528
23,538 22,440
Deliveries (consumption) O
bales..
5,676
2,069
1,003
4,429
7,219
3,263
3,895
2,430
3,453
2,347
3,551
3,509
Imports, raw§
thous. of l b . .
332
Price, wholesale, raw, Japanese, 13-15 (N. Y.)
2.562
2.560
3.019
2.585
2.816
3.049
2.834
2.886
dol. per lb__
3.080
3.080
3.080
Stocks, end of month:
195, 330 225,248 224,363 214,836 211,174 210,743 214, 711 204,606
Total visible stocks...
bales..
(4)
()
()
55, 486
54,106 49,904 49,373
53,436 47,208
60,330 72,248 63,433
50,341
United States (warehouses) O
do
53,988 53,008
WOOL
72,677 73,045 72,458 91, 788 74,954 84, 759 72,008
56,313
63,010 61,658
Imports (unmanufactured)§
thous. of lb_.
34,631
Consumption (scoured basis) :1
41,980
34,012 40,115 36,232 39,416 46,970 41,032 41,904 46,750
39,824 42, 856
Apparel class
do
33,821
9,484
10,120
9,352
10,965
11,144
10, 712 11,008
13,095
10, 588 11,172 11,320
Carpet class
do
Machinery activity (weekly average) :1
Looms:
Woolen and worsted:
2,602
2,524
2,513
2,092
2,245
2,197
2,411
2,587
2,428
2,418
2,491
2,450
Broad
thous. of active hours..
91
91
90
94
72
67
71
80
85
82
93
96
Narrow
do
251
260
240
230
246
213
198
200
201
233
241
244
Carpet and rug
...do
Spinning spindles:
92, 553 90,418 98,398 99, 589 102,929 106,880 110, 608 107, 592 118, 533 113,067
108, 439
90,323
Woolen
do
122, 786 102,813 105,826 104, 279 115, 206 115,309 117,465 119, 610 125, 606 117,393 125,902 123, 512
Worsted
_
do
209
223
192
220
179
186
210
216
231
209
215
218
Worsted combs...
.do
Prices, wholesale:
1.05
1.06
1.11
1.10
1.10
1.09
1.08
1.07
1.08
1.08
1.08
1.10
Raw, territory, fine, scoured
dol. per lb._
.49
.44
.46
.46
.44
.46
.46
.45
.47
.45
Raw, Ohio and Penn.,
fleeces
do
Suiting, unfinished worsted, 13 oz. (at
2.129
2.228
1.931
1.931
2.005
2.030
2.089
1.931
2.030
2.030
2.030
mill)
dol. per yd_.
2.228
Women's dress goods, French serge, 54" (at
1.330
1.411
1.213
1.213
1.225
1.312
1.312
1.213
1.213
1.262
1.275
mill)
dol. per y d . .
1.391
Worsted yarn, ^ 2 ' s , crossbred stock (Boston)
1.519
1.800
1.450
1.450
1.638
1.675
1.700
1.488
1.550
1.594
1.463
dol. per lb—
1.740
1
2
' Revised.
July-December total.
Dec. 1 estimate of 1941 crop.
* Dec. 1 estimate of 1940 crop.
< Not available.
§Data for 1939 revised; for exports, see table 14, p. 17, and for imports, table 15, p. 18 of the April 1941 issue.
• Total ginnings to end of month indicated.
5 Data for January, April, July, and October 1941 are for 5 weeks; other months, 4 weeks.
JMonthly data beginning January 1930, corresponding to monthly averages shown on p. 155 of the 1940 Supplement, appear on p. 18 of the April 1940 Survey.
•New series. No earlier data available for cotton consumption byproducts. For monthly data on rayon yarn deliveries beginning 1923, see table 41, p. 16 of the October
1940 issue. The new rayon price series replaces the data shown in the 1S40 Supplement; earlier monthly data are shown in table 30, p. 22 of the November 1941 issue.
^Revised monthly data for August 1939—July 1940 will be shown in a subsequent issue.
©Beginning September 1941 certain amounts of raw silk were returned from mills to warehouses; these amounts are reflected in warehouse stocks and should be deducted
froma the cumulative figures for deliveries. The number of bales returned were as follows: Sept., 542; Oct., 7,927; Nov., 2,717.
January 1942
S-37
SURVEY OF CURRENT BUSINESS
1940
Monthly statistics through December 1939, to- 1941
gether with explanatory notes and references
to the sources of the data, may be found in the Novem- Novem- December
ber
1940 Supplement to the Survey
ber
1941
January
February
March
April
May
June
July
80,360
29,177
51,184
82,827
32,837
49,990
81,232
42, 780
38,452
August SeptemOctober
ber
TEXTILE PRODUCTS—Continued
WOOL—Continued
Receipts at Boston, total
thous. of l b . .
Domestic
do
Foreign
do _
Stocks, scoured basis, end of quarter, totals
thous of lb
Woolen wools, total
do
Domestic
- do _
Foreiun
do
Worsted wools, total
do
Domestic
-- do
Foreign
do
37,571
17,281
20,290
36,123
16, 328
19, 795
49, 597
6,298
43,299
50,365
4,633
45, 732
51,809
4,129
47,680
142,152
48, 388
27,651
20, 737
93, 764
29, 009
64, 755
49,410
7,151
42,259
76, 210
13,655
62, 555
164,331
50,886
26,333
24,553
113, 445
17, 933
95,512
61,336
26,570
34,765
208,345
62,213
31, 790
30,423
145, 970
53,930
92,040
39,704
9,661
30,043
26,253
11,735
14,518
188,493
62,445
34,765
27,680
125,652
57,334
68,318
MISCELLANEOUS PRODUCTS
Fur sales by dealers
thous. of dol
Pyroxylin-coated textiles (cotton fabrics):
Orders, unfilled, end of mo..thous. linear yd__
Pyroxylin spread
thous. of lb._
Shipments, billed
thous. linear yd_.
8,189
6,523
6,973
2,229
2,901
5,779
6,064
4,666
6,142
5,964
5,323
4,779
5,347
'4,288
*>1,312
3,801
5,776
5,776
3,694
5,463
5,718
3,896
5,993
5,881
4,443
6,262
6,499
5,520
6,759
7,100
5,588
7,165
7,550
6,137
7,351
7,906
9,558
7,464
7,428
8,070
6,473
7,493
10,038
7,142
7,703
8,747
7,097
8,017
9,009
7,488
7,819
TRANSPORTATION EQUIPMENT
AIRPLANES
574
509
645
597
Production, domestic civil aircraft
number..
344
467
481
367
571
511
360
533
287
352
Exports§
do
AUTOMOBILES
Exports:
Canada:
8,796
8,574
22,486
8,449
11,177
9,405
14,457
16,932
8,849
11,144
Assembled, total
number.. 11,798
13,276
13,000
611
608
1,036
496
2,099
1,052
Passenger cars
do
997
312
3,263
619
378
797
United States:
21,064
12,975
15,912
17,252
18, 536
21,969
20,616
15,678
Assembled, total§
do
19,943
18,017
13,481
7,246
6,943
8,574
8,834
6,958
2,279
Passenger cars §
do
9,525
7,782
9,012
6,706
4,056
10, 309
9,962
13,399
10,418
10,235
12,230
6,017
Trucks§
do
12, 957
9,425
13,910
Financing:
152,009 160,956 147,186 158, 693 202,793 236,800 248,314 238,040 210,628 172,801 104,079 106, 680
Retail purchasers, total
thous. of doL.
43,427
80,739
83, 518
50,074
89, 541 118,369 136, 464 141,024 129,877 110,625
New cars
-do
88, 575
93. 350
99, 582 106, 502 107,445
60,370
65,939
83,815
88,724
56, 303
68, 574
Used cars
_
do
62,928
67,065
99,362
754
281
509
787
558
303
579
Unclassified
do
507
541
608
645
718
91,773
89,333 198, 874
Wholesale (mfrs. to dealers)
do
220,941 253, 778 236,871 248, 288 270, 487 243,103 251,490 231,323 202,022
Retail automobile receivables outstanding,
1,435
1,341
1,494
1,166
1,181
1,433
end of month*
mil. of doL.
1,137
1,209
1,255
1,543
1,560
1,500
Production:
Automobiles:
27, 584
26, 585
26,044
14,496
19,360
23.195
23, 710
17,192
24,654
Canada, total
number.. 21, 545 23, 621 23,364
25,753
5,635
9,840
2,548
7,003
10, 814
11,653
11.990
12,091
12,093
10,647
3,849
3,160
Passenger cars
do
8,538
352,347 487, 352 483,567 500,863 485,622 507,832 462,270 518,770 520,525 444, 241 147,600 234,255 382.000
United States (factory sales), total
do
Passenger cars
d o — 256,101 407,091 396, 531 411, 233 394, 513 410,196 374, 979 417,698 418,983 343, 748 78,529 167,790 295,568
86,432
89,630
96,246
80,261
87, 291 101,072 101,542 100,493
97,636
69,071
87,036
91,109
Trucks
do
1,811
2,024
1,864
2,032
2,682
2,666
1,532
1,808
1,790
2,131
2,408
Automobile rims.
thous. of rims..
2,309
2,061
Registrations :J
301,430 334,073 299,179 300,466 420,058 489, 074 515,034 443,470 391,795 246, 595 125,293 165,485
New passenger cars
_
number. _
43,892
51,095
41,352
61, 712
55,900
70, 269
72,170
67, 798
56,191
46,618
New commercial cars
do—
67,412
62,265
Sales (General Motors Corporation):
World sales:
171,412 217,406 223,611 235,422 226,609 247,683 255,887 235,679 240,748 224,517
89,300 179,120
29,268
By U. S. and Canadian plants
do
United States sales:
19,690
81,169 162,543
To dealers
- d o — 153,904 198,064 204,473 218, 578 208,214 226, 592 233, 735 217,120 224,119 204,695
84,969
126,281 181,421 174, 610 168,168 187, 252 253, 282 272,853 265,750 235,817 195,475
52,829 103,854
To consumers.
..do
Accessories and parts, shipments:
179
214
240
252
210
242
246
282
Combined index
...Jan. 1925=100..
183
207
258
Original equipment to vehicle manufac282
231
245
244
278
232
258
turers
Jan. 1925=100..
228
279
248
271
125
115
115
132
136
128
160
Accessories to wholesalers.
do
122
154
140
170
180
170
174
218
168
253
242
Service parts to wholesalers
do
180
215
231
298
221
156
162
199
214
216
143
Service equipment to wholesalers
do
182
208
229
290
RAILWAY EQUIPMENT
Association of American Railroads:
Freight cars, end of month:
1,688
1,642
1,641
1,647
1,656
1,644
1,671
Number owned
tbousands.1,666
1,682
1,638
1,644
1,661
1,676
Undergoing or awaiting classified repairs
94
68
79
thousands. _
114
107
101
96
78
73
108
85
109
4.1
4.8
4.7
Percent of total online
7.1
6.3
5.9
5.8
4.4
6.8
6.7
6.6
5.2
4.1
88,266
89,917
Orders, unfilled
___cars_. 75, 559 30,184
34,202
41,091
55,404
64,027
86,943
40,030
37,981
78,974
91,416
52, 563
65,814
Equipment manufacturers
do
25,866
66,641
27,756
42,162
49,108
63,607
57,584
22, 738
26,427
23, 787
69,140
22,996
24,103
21,625
21,390
Railroad shops
do
13, 242
14,919
23,336
7,446
13,603
14,194
13,335
22,276
Locomotives, steam, end of month:
Undergoing or awaiting classified repairs
3,634
4,607
4,022
3,778
5,535
5,181
4,208
number..
5,914
5,853
5,812
5,704
6,076
4,862
9.2
10.2
11.7
9.6
14.0
13.1
10.7
Percent of total online
14.7
14.7
14.4
15.2
14.9
12.3
281
300
309
284
231
317
Orders, unfilled
.__
number..
120
132
166
211
116
115
265
256
266
263
240
201
269
Equipment manufacturers
do
148
189
103
102
107
113
234
25
44
34
48
46
Railroad shops.
do
22
18
13
13
13
19
31
U.S. Bureau of the Census:
Locomotives, railroad:
1,022
942
921
645
734
964
917
Orders, unfilled, end of mo., total
do
285
354
460
515
622
876
364
'297
'297
'285
268
'153
'144
'186
'203
'255
'157
'219
'205
Steamt
do—
658
'667
'632
'132
'210
'419
'621
'645
653
'303
'329
'426
'529
Otherf
do....
89
'87
'86
'70
'74
79
102
'64
'82
'79
'87
44
'87
Shipments, total!
do....
15
8
'35
'24
'18
12
27
'16
'17
'9
'22
11
5
Steamf
.do....
74
'51
46
'56
'65
'79
67
75
65
'76
'70
Otherf
do
•• Revised.
" Preliminary.
IDoes not include Australian wool held by the Defense Supplies Corporation. The total includes for June and September 1941 a comparatively small amount of certificated wool in licensed warehouses not included in the detailed figures.
§Data revised for 1939. See table 14, p. 17, of the April 1941 Survey.
Data on exports of airplanes have also been revised, beginning January 1940, to include exports
of "landplanes minus engines." Prior to 1940, these were not reported separately. For revisions for all months of 1940 see note marked "§" on page S-37 of the November
1941 Survey. Beginning September 1941 data on exports of airplanes are not available.
*New series. Data beginning 1936 are shown in table 33, p. 26 of the November, 1941 Survey.
t Since publication of foreign trade statistics has been suspended for the duration of the war, the Bureau of the Census has ceased publishing foreign and domestic data
separately. The series, therefore, have been revised to include both foreign and domestic data. Comparable earlier figures are available on request.
JData beginning June 1941 exclude Federal Government deliveries and are therefore not comparable with earlier data. See note "t", P- S-37, of December 1941 Survey.
S-38
SURVEY OF CURRENT BUSINESS
Monthly statistics through December 1939, to- 1941
1940
gether with explanatory notes and references
to the sources of the data, may be found in the Novem- Novem- Decem1940 Supplement to the Survey
ber
ber
ber
January 1942
1941
January
February
March
April
June
May
July
August September
October
TRANSPORTATION EQUIPMENT--ContinuedL
RAILWAY EQUIPMENT-Continued
U.S. Bureau of the Census—Continued.
Locomotives, mining and industrial:
Shipments (Quarterly), total*
number
Electric, totals
- do
For mining use
do
Other*
- do
American Railway Car Institute:
Shipments:
Freight cars, total.- _.
do
Domestic
do
Passenger cars, totaldo
Domestic
do
Exports of locomotives, total .
do. . .
Electric
do
Steam
__.
do
132
55
52
77
173
79
73
94
42
8
8
11
10
1
4,624
4,301
54
54
4
3
1
5,272
5,256
0
0
12
8
4
4,122
4,057
2
2
17
12
5
5,022
4,987
21
21
11
6
5
5,448
5,300
18
18
24
17
7
5,220
4,670
47
47
42
19
23
5,136
5,130
12
12
25
10
15
5,537
5,467
37
37
28
21
7
3,886
3,856
32
32
22
15
7
5,16S
5 044
38
30
25
14
11
298
180
174
6
202
165
37
206
173
33
242
216
26
266
214
52
263
255
8
217
180
37
266
238
28
232
225
7
247
236
11
260
253
7
323
306
17
6,272
4,134
3,981
242
97
94
145
150
58
57
92
7,551
6 626
28
28
INDUSTRIAL ELECTRIC TRUCKS
AND TRACTORS*
Shipments, total-.
Domestic
Exports
.number..
- -.do. .
do
CANADIAN STATISTICS
Physical volume of business, adjusted:! :
Combined index
1935-39 =100..
Industrial production:
Combined index.
.do—
Construction.
_
.do
Electric power
do
Manufacturing
do
Forestry
...do
Mining
do
Distribution:
Combined index
do
Carloadings
do
Exports (volume)
do
Imports (volume)
do
Trade employment
do
Agricultural marketings, adjusted:!
Combined index
do
Grain
do
Livestock
do
Commodity prices:
Cost of livingf
.--do
Wholesale prices
1926=100-.
Employment (first of month, unadjusted):
Combined index
do
Construction and maintenance
do
Manufacturing
do
Mining
do
Service
do
Trade
do
Transportation
do
Finance:
Bank debits
mil. of doL.
Commercial failures
number..
Life-insurance sales, new paid for ordinary!
thous. of dol__ 44, 984
Security issues and prices:
94, 851
New bond issues, totalf
do
Bond yields!
1935-39=100..
Common stock prices!
do
Foreign trade:
Exports, total
thous. of dol_.
Wheat
thous. of bu._
Wheat
flour
thous. of bbL.
Imports
_.thous. of dol._
Railways:
Carloadings
thous. of cars. .
Financial results:
Operating revenues
thous. of dol_.
Operating expenses
do
Operating income
do_...
Operating results:
Revenue freight carried 1 mile.mil. of tons..
Passengers carried 1 mile
mil. of pass..
Production:
Electric power, central stations
mil. of kw.-hr__
134
Pig iron
thous. of long tons..
221
Steel ingots and castings
do
Wheat
flour
thous. of bbL.
129.7
128.3
130.5
126.1
123.2
127.9
132.0
135.3
138.5
141.2
149. 7
139.4
146.9
278.2
109.0
146.9
123,2
128.0
140.6
187.4
111.4
142.3
117.2
123.5
145.1
244.3
116.7
141.9
126.2
122.7
138.3
223.8
115.7
134.0
121.3
125.0
133.5
139.0
115.8
137.3
125.6
122.8
139.5
181.5
126.1
140.3
118.4
121.8
143.3
182.0
129.1
140.8
114.0
140.8
149.3
292.3
123.3
141.1
117.0
125.6
150.2
133.2
130.8
155.1
131.0
146.3
156.1
147.0
126.1
163.7
129.8
140.9
171.2
169. 5
136.2
185.9
145.6
126.0
156.9
148.8
137.4
167.9
132. 6
123.6
100.3
114.8
132.7
136.0
112.5
107.1
125.1
119.9
171.6
116.8
105.4
123.3
130.5
171.0
115.3
105.1
118.8
148.2
152.7
115.8
105.6
122.9
147.4
153.6
117.9
108.1
127.2
169.2
150.0
120.5
112.6
136.5
196.3
145.9
121.6
111.3
130.0
182.1
143.9
121.8
118.4
141.7
212.7
167.3
121.2
115.6
130.6
189.7
184.1
122.0
113.0
125.0
169.2
185.6
123.2
109.5
121.1
139. 5
170.3
118.2
123.0
106.8
146.4
162.9
107.0
146.9
168.7
94.9
59.7
44.3
97.8
50.8
33.5
93.4
113.6
117.8
105.4
227.7
284.3
94.3
145.9
163.6
105.3
179.2
204.1
122.0
182.9
217.4
102.2
98.9
90.5
120.8
116.0
122.9
101.3
107.8
83.9
108.0
84.2
108.3
84.6
108.2
85.2
108.2
85.9
108.6
110.5
90.0
111.9
91.1
113.7
91.8
114.7
93.2
115.5
93.8
139.2
120.5
144.6
174.0
148.8
148.9
93.5
139.1
105.9
144.7
172.6
147.8
154.4
92.5
134.2
83.0
142.5
167.6
149.5
160.8
88.7
135.2
82.5
147.4
169.1
148.6
147.0
89.4
135.3
83.0
150.8
168.7
150.2
145.7
90.5
141.3
100.2
158.2
174.1
158.3
149.1
94.3
109.4
88.5
145.5
120.0
162.3
174.8
165.6
154.5
99.2
152.9
139.5
168.0
177.2
170.9
156.8
99.2
157.4
149.9
172.5
176.8
179.8
158.5
103.7
160.6
160.7
176.9
178.1
184.0
156.8
105.0
162.7
153.9
181.5
181.6
183. 9
157 5
105 9
3,049
92
3,208
95
2,941
79
2,540
105
2,838
90
2,984
67
4,241
72
3,242
58
3,150
67
2 Qm
32,899
3,266
84
36,172
Q A97
45
33, 727
28, 326
31, 500
33,700
35,398
33,670
32,681
29, 597
33,975 i 41, 740
108, 576 330,167
98.0
97.0
74.5
70.3
84,235
96.3
71.3
115,271
96.1
66.5
42,524
95.8
78, 830 115,119
95.9
95.9
63.9
65.8
876, 920
96.4
64.0
111,290
95.8
67.5
83, 497
95.4
67.8
62, 521 341,680
94.9
95. 2
71.0
69. 1
118,404 98,711
17, 278 11, 762
683
346
102, 284 102, 302
88,953 100,532 102, 995 118,425 162, 663 146,822
9,460
4,880
11,623
23,114
20, 322 29,623
607
355
559
1,341
1,751
850
98, 382 89, 632 107, 982 106,268 128,096 114,924
170,901
19,346
1,922
127,707
150, 496
14, 721
1,437
137, 913
142, 897 139,678
11,341
11,841
661
441
136, 991 140, 819
259
231
229
218
250
252
276
38, 869
26, 964
10,024
40, 221
28, 602
9,944
36,113
29, 224
5,095
34,620
28, 558
4,318
40,613
30,941
7,313
41, 887
30,180
9,123
46. 595
32.257
11,068
44, 817
32,122
9,976
45,442
35,248
7,262
46, 524
35,988
7,393
47, 215
35, 861
8,973
3,371
158
3,772
278
3,131
201
3,127
217
4,001
218
3,818
225
4,387
230
4,381
248
4,257
318
4,323
354
4, 447
286
2,525
110
176
1,588
2,584
110
185
1,076
2,635
103
186
1,177
2,407
91
173
1,462
2,632
102
195
1,477
2,693
103
201
1,661
2,805
114
206
2,121
2,688
112
187
2,118
2,661
102
197
2,117
2,640
106
203
1,852
2,867
112
201
1, 648
271
277
279
294
313
3,140
137
223
1,596
' Revised.
!Data on life-insurance sales revised beginning September 1936; for revisions see p. 56 of the September 1940 Survey. For revisions of new bond issues for 1939 see p. 56
of the March 1941 Survey. All Canadian index numbers to which this note is attached have been revised to a 1935-39 base; earlier cost of living data appear in table 35,
p. 19 of this issue. Common stock price and bond yield indexes have been converted to the new base by multiplying the old series by a constant. The production and distribution indexes have been completely revised and no comparable data prior to January 1940 are available att his time. Complete 1940 data for production and distribution
indexes are shown on p. 56 of the April 1941 Survey.
tBeginning with July 1940, data are reported by the Industrial Truck Statistical Association and cover reports of 8 companies. They are approximately comparable with
previous data which were compiled by the Bureau of the Census.
§lncludes straight electric types only (trolley or third-rail and storage battery); data for 1939 and earlier years, published in the Survey, include some units of only partial
United States manufacture and are not comparable with data here shown.
*New series. Comparable data on total shipments are available only beginning January 1940. "Other" includes Diesel-electric, Diesel-mechanical, and gasoline or steam
locomotives: these are largely industrial; for data beginning with the first quarter of 1939, see p. 55 of the May 1941 Survey.
U.
S .
G O V E R N M E N T
P R I N T I N G
O F F I C E :
1 9 4 2
INDEX TO MONTHLY BUSINESS STATISTICS, Pages
CLASSIFICATION, BY SECTIONS
Monthly business statistics:
Page
Business indexes
Commodity prices
S-3
S-4
Construction and real estate._
S-6
Domestic trade
Employment conditions a n d
wages
'Finance
S-12
Foreign trade
S-19
Transportation and communicaS-20
Statistics on individual industries:
Chemicals and allied products
S-21
Electric power and gas
S-23
Foodstuffs and tobacco
„ S-24
Fuels and byproducts
S-27
Leather and products
S-29
Lumber and manufactures
S-29
Metals and manufactures:
Iron and steel
S-30
Nonferrous metals and prodS-32
Machinery and apparatus
S-32
Paper and printing
S-33
Rubber and products
S-34
Stone, clay, and glass products _ S-3 5
Textile products
S-35
Transportation equipment
S-37
Canadian statistics
S-38
CLASSIFICATION, BY INDIVIDUAL
SERIES
Pages marked S
Abrasive paper and cloth (coated)
34
Acceptances, bankers' _
12
Advertising
6
Agricultural cash income
1
Agricultural products, foreign trade
19
Agricultural wages, loans
12, 13
Air mail and air-line operations
6,21
Aircraft
1, 2, 8, 10, 11, 12, 37
Alcohol, denatured, ethyl, methanol
21
Aluminum
32
Animal fats, greases
22
Anthracite
2,3, 9, 10, 27
Apparel, wearing
3, 4, 6, 8, 9, 10, 11, 36
Asphalt
28
Automobiles
1, 2, 3, 6, 8, 10, 11, 12, 19, 37
Automobile accessories and parts
37
Banking
12, 13, 14
Barley
.
25
Bearing metal
32
Beef and veal
26
Beverages, alcoholic
_
24
Bituminous coal
2, 3, 9, 10, 27, 28
Boilers
31
Bonds, issues, prices, sales, yields
16, 17, 18
Book publication._„
34
Brass and bronze
32
Brick...
35
Brokers' loans
13, 17
Building contracts awarded
4
Building costs
5
Building expenditures (indexes)
4
Building-material prices
3
Butter
24
Canadian statistics
._
15, 19,37,38
Canal traffic...
20
Candy
_
27
Capital
flotations
16, 17
For productive uses
.
17
Carloadings
20
Cattle and calves
25
Cellulose plastic products
23
Cement..
1, 2, 3, 35
Chain-store sales
6, 7
Cheese..
24
Chemicals
1, 2,3,8,9, 10, 11, 12, 14, 15, 21
Cigars and cigarettes
27
Civil-service employees
9
Clay products
1, 2, 8, 10, 11, 14, 35
Clothing (see also hosiery)
3, 4, 6, 8, 10, 11
Coal
2, 3, 9, 10, 27, 28
Cocoa
26
Coffee
26
Coke
28
Commercial failures
14
Commercial paper
12, 13
Construction:
Contracts awarded
4
Costs
5
Highways and grade crossings
4,5
Wage rates
12
Copper
32
Copra and coconut oil
22
Corn
25
Cost-of-living index
3
Cotton, raw, and manufactures
2, 3, 4,19, 36
Cottonseed, cake and meal, oil
22
Crops
.
1, 22, 25, 27, 36
Currency in circulation
_. _
15
Dairy products
24
Debits, bank_
__. 13
Debt, United States Government-_ _
15
Delaware, employment, pay rolls, wages. _ 9, 10,12
Pages marked S
Department stores: Sales, stocks, collections.
7
Deposits, bank
_
13
Disputes, industrial
9
Dividend declaration payments and rates-. 1,18
Earnings, factory, average weekly and
hourly
.
___ 11, 12
Eggs and chickens
1, 3, 26
qp
6, 8,, 10,, 11, 33
Electrical equipment
2,, 3, 6,
23
Electric
sales,
E l t i power production,
di
l revenues. .
23
Employment, estimated nonagricultural
7
Employment indexes:
9
Factory, by cities and States
8, 9
Factory, by industries
9
Nonmanufacturing
_
9
Employment, security operations
._
Emigration and immigration
21
Engineering construction
4
Exchange rates, foreign._.
15
15
Expenditures, United States Government-21
Explosives
„__
19
Exports
7
Factory employment, pay rolls, wagea
„_
8,9,10,11,12
8910
Fairchild's retail price index
3
Farm wages
„__
12
Farm prices, index
3
Federal Government,
finances
15,16
Federal-aid highways and grade crossings, _
5
Federal Reserve banks, condition of
13
Federal Reserve reporting member banks. _
13
Fertilizers
_
_ 21, 22
Fire losses
5
Fish oils and
fish
.
_.
22, 27
Flaxseed
22
Flooring
_
29
Flour, wheat
25
Food products
1, 2, 3,
4, 6, 8, 9, 10, 11, 12, 14, 15, 19, 24, 25, 26, 27
Footwear
„_ 1, 2, 4, 8, 9, 10,11, 29
Foreclosures, real estate
5
Foundry equipment
. . . 32
Freight cars (equipment)
37
Freight carloadings, cars, indexes
20
Freight-car surplus
20
Fruits and vegetables
3, 25
Fuel equipment and heating apparatus..... 32, 33
Fuels
_ . 2, 3, 14, 27, 28
Furniture
_ 30,31
Gas, customers, sales, revenues
23, 24
Gas and fuel oils
_. _
3, 28
Gasoline
19, 28
Gelatin, edible
_..______
27
General Motors sales
.
37
Glass and glassware.
1, 2,8, 10, 11, 12,35
Gloves and mittens_
29
Gold
15
Goods in warehouses
.
6
Grains
3, 17, 25
Gypsum
__
35
Hides and skins
.
29
Hogs
26
Home-loan banks, loans outstanding
___
5
Home mortgages
.
5
Hosiery
....
,_„
35
Hotels
.
21
Housing
.
.
3,4
Illinois, employment, pay rolls, wages
9, 10, 12
Immigration and emigration
21
Imports
19, 20
Income payments
.
.
1
Income-tax receipts
- .__ 16
Incorporations, business, new
...
6
Industrial produ* *tion, indexes
1,2
Installment loans
13
Installment sales., department stores
7
Insurance, life
.
14
Interest and money rates
.
13, 14
Inventories, manufacturers'
.
3
Iron and steel, cru' ^e, manufactures._
1,
2, 3, 4, 8, 10, 11, 14, 15, 30, 31
Ironers, household.
33
Kerosene
.
28
Labor, turn-over, disputes
.
,_ 9, 10
Lamb and mutton... .
26
Lard
.
26
Lead
__.„___„_.
2,32
Leather
___. 1, 2, 4, 8, 9, 10, 11, 12, 14, 29
Linseed oil, cake, and , neal
23
Livestock
26
Loans, real-estate, agrie altural, brokers'. 5,13,17
Locomotives
37,38
Looms, woolen, activity.
___ 36
Lubricants
28
Lumber
1,2,3,8,10,11,29,30
Machine activity, cotton, \*ool
36
Machine tools
8, 10, 11
Machinery
1,2,3,8, 10,11,14,15,19,32,33
Magazine advertising
6
Manufacturers' orders, shipments, inventories
.__.__
2,3
Manufacturing indexes..-,.
.
1, 2
Maryland, employment, pay rolls
9, 10
Massachusetts, employment, j a y rolls,
wages
___-.
9,10,12
Meats and meat packing
. _ . -i
1,
2,3,8,9, l\0, 11, 12, 19, 26
Metals....
1,2,4,8,9, 10,11,15,30
Methanol
21
Mexico, silver production
.
15
Milk
.
„24
Minerals
____ 2, 9, 10
Naval stores
\ 22
New Jersey, employment, pay rolls, wages. 9, 1,0, 12
Newsprint— +%$
New York, emplQ
New York canal 1
New York Stock i)
Oats
_ _ ;_ {!„,._, ._._,___,_ _l_;-.
^4&j
O h i o , employmente»$«i.4i«^^!iijlH
;
Oils and fats— ; ^ f ' " *
Oleomargarine. . i|^|
Orders and shipmeb
Paint sales __.--riii |
Paper and pwlp_j;
Passenger-car sal*
Passports issued_^i4-i
Payrolls: . ^ t ' S
Factory, by c
Factory, by in<pt
Nonmanufactuin
Pennsylvania, <
Petroleum and ]
Pig iron.
<.^,|
Porcelain enameled j
Pork
-ill^
Postal business.-^li*
Postal savings. _ ^ |
Poultry and eggsjEi
Prices (see also iil&p:
Retail indexes 'X4 ^f$^^^iB0kmj§i
Wholesale i n d e | i % | i C ! i i ^ i & l p
Printing
,
it | _ ^ ^ . | | ^ - . ; # ; i | | | ^
Profits, co^poratioiiili 1 !^^;^
Public relief
2£$*j^£&£^k)$z#,
Public utilities-.y^l^liyil^^^p?
Pullman Cor _ - _ ^k|^;|||.^^i%£i||^i
Pumps
•'
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Purchasing powe|:^:|||licljl|r3&
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Radiators.
.ijtiijj^::;||$«ji^$^£
Radio, advertising jv§|&-S-^S_e
Railways, operations, e<
statistics, empl&yfailt;
Railways, street (see atri
Ranges, electric.il;^ill^|L
Rayon
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Reconstruction Finance
Refrigerators, e_e6jSf^i|.,™-_,__T,__
Registrations, a u i | l | ^ ^ g p | | i |
Rents (housing), inda
Retail trade: ^:!'M^
Automobiles, n t ^ t „...,.
Chain stores, variety (5*i
and other.-.n|||.|gp|||.
Department
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Mail order M^r^
11
Rural general i i | | c | |
Rice
N'##S$i?
River traffic- _ _ _;;Uit-|>r:£W k
Roofing asphalt _ I ii.^.:^
Rubber, crude, •' ioiiiii^t _ „
tubes
; _-._;, ^ _ i p : ^ i | |
Savings deposits 4^ ^ i , | | L ; g | i | | | ^J| |
Sheep and lambs ^S-|^^i||pil'''"' "
Shipbuilding
;_ |,_ i_ .|X- ^jfis^-.-.^
Shoes
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Silver
Skins
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Slaughtering and meat 1
Spindle activity, <jw!>it<iaii ,
Steel and iron (see iron and
Steel, scrap, e x p o ^ l i w l *
Stockholders
Stocks, issues, pr&eli
^^£^^^£i^^
Stone, clay, and glass product«-__--___.
mm f l
Street railways a j j d ' f > ^ ^ w | | ^ P ^ | | 2 | |
Sulphur
!_uy->^-. i*U«i*QH
Sulphuric acid_ _^,;u J*-.*,:>4-^-**^»-¥
Superphosphate , 4 « i _*il-^1^11^
Tea
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Telephone, telegraph, cable,
telegraph carri<t1^4!_5^-£^?i:i5i|i
Textiles
'^
I, ,^8,^§ft
Tile
—..__•_ w*i- |i-1 ; £;|^p|^i
Tin
.JiViu^ife ;^
Tobacco
% ^ -44- ^ v ^
Tools, machine--i^ii-^y^wi
Travel
— 4 ^ M " * •*l'""&
Trucks and tractors, i
United States Gi»idi(_i(L--___,__
United States Government, 1
United States S t & # € ^ § i *
Utilities. ,____- 4 i£w is 14^1
Warehouses,
W a h , h
Waterway t r a ^
Wheat and wheat
Wholesale price W
Wire
l t h ^ u
Wisconsin, factory/
and wages. „,!„;._..
Zinc
ill
I
WHOLESALER-RETAILER RELATIONS
SELECTION OF PROFITABLE CUSTOMERS
BRAND POLICY
PRICE POLICY
MERCHANDISING AND THE SALESMEN
ORDER ROUTINE
ORDER ASSEMBLY
WAREHOUSE BMLDINGS AND BRANCH-HOUSE
OPERATION
ECONOMIC
SERIES
No. 14
DELIVERY
J WENTORY CONTROL
METHODS OF ACCOUNTING FOR SALES, MARGINS,
A N D E X P E N S E CONTROL
Price 40 cents
Remittance by check or money order (stamps not acceptable) payable to the Superintendent of Documents.
may be sent to that official at the Governmenl Printing Office, Washington, D. C.
@FedFRASER