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JANUARY 1947
SURVEY OF
CURRENT
BUSINESS
UNITED STATES DEPARTMENT OF COMMERCE
BUREAU OF FOREIGN AND DOMESTIC COMMERCE
Survey of
CURRENT
BUSINESS
JANUARY 1947
VOLUME 27, No. 1
/" Statutory Functions: "The Bureau of Foreign and Domestic Commerce
I to foster, promote, and develop the foreign and domestic commerce of
\ the United States" [Law creating the Bureau Aug. 23,1912 [37 Stat. 408].]^
Contents
Page
THE BUSINESS SITUATION
.
. ,
1
T h e Authorized Increase i n Railway Freight Rates
.
.
.
.
.
.
.
.
.
.
24
New or Revised Series
Page
Business indexes
S—l
Business population
S-3
Commodity prices
S—3
Construction and real estate..
S-5
Domestic trade
S-6
Employment conditions and
wages
S-9
Finance
S-15
Foreign trade
S-20
Transportation and communications
S-22
Commodity sections:
Chemicals and allied products
S-23
Electric power and g a s . . . . . . S—26
Foodstuffs a n d t o b a c c o
S-26
,
FOREIGN CREDITS OF THE UNITED
STATES GOVERNMENT
Pag©
Monthly Business Statistics:
THE POSTWAR BUSINESS POPULATION
STATISTICAL DATA:
19
Statistical Index
Commodity sections—Con.
Page
Leather a n d p r o d u c t s . . . . . . . S-30
L u m b e r a n d m a n u f a c t u r e s . . S—31
Metals and manufacturesx
Iron, and steel
S-32
Nonferrous
metals
and
products
S-33
Machinery and apparatus. S-34
Paper and printing
S-34
Petroleum and coal products S-36
Rubber and rubber products. S-37
Stone, clay, and glass products....
S-37
Textile products
S-38
Transportation equipment.. S-40
Canadian statistics••••
S-40
Inside baek cover
• 1 i OlC—Contents of this publication are not copyrighted and «
\ may be reprinted freely. Mention of source will be appreciated /
Published by the Department of Commerce, W. AVERELL HARRIMAN, Secretary.—Bureau of Foreign and Domestic Commerce, AMOS E. TAYLOR, Director. Subscription
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25, D. C.
THE BUSINESS SITUATION
By the Office of Business Economics
S 1946 DREW to a close, all phases
A
. of business activity were at or close
to the high marks of the year. The
movement of the broad economic indicators suggested that the basic expansionary influences persisted without significant modifications through the year
end.
Advances are still being made in different sectors of the economy, but apart
from seasonal changes such gains generally are of smaller magnitude than
those of a short time back. Exceptional
fluctuations have occurred in the coal
and steel industries as a result of the
work stoppage at the soft coal mines in
the latter part of November and early
December. Likewise, export trade rebounded after October, following the settlement of the shipping strike which had
reduced the flow of commodities abroad.
Security prices staged a moderate recovery in early December and then leveled off, with the result that the endof-the-month price average of stocks
on the New York exchange was the best
in almost four months. However, the
average was still about 20 percent below
the June high and about 10 percent below prices a year earlier.
Fewer Inventory Gaps
The rise in inventories—a strong
source of demand throughout the year—
has continued at a high rate, although
below the 1.6 billion dollars increase that
occurred in October. Deficiencies carried over from the war years had been
remedied in some areas but the aggregate of business inventories was still
not up to what is adequate either for
the smooth flow of production or the
convenience of the consumer. The rate
of accumulation throughout the second
half of 1946, however, was such that the
gap between requirements and goods in
The Month in Review
Continuance of the basic ex,-*
pansionary forces through the year
end resulted in record dollar sales
and income totals for the fourth
quarter. Theflowof income payments to individuals for the year
was lifted above 164 billion dollars—higher than in any of the
war years. The advance in production was sustained through the
final months of 1946,
Prices continued to move upward along a broad front in December, although downward adjustments from earlier peaks were
noted in some cases. The recent
rapid rise in retail prices was impairing the purchasing power of
major consumer segments. Business expenditures continued high,
though the rate of inventory accumulation was somewhat below the
peak October rate.
The larger department stores
have effected a considerable realignment of their forward buying
position since the summer months,
but other data on unfilled orders
suggest that the contraction in
outstanding commitments has not
been widespread.
*
*
*
*
*
Most of the statistics used in this
review of the business situation
will be found in the statistical section at the back (pp. S-l to S-40).
production and distribution pipe lines
was being rapidly closed.
In some merchandise lines, where improved quality and better value were the
forerunners of the intensification of com-
petition which will be the next major
phase of the postwar business picture,
efforts were made to clear the shelves.
Such mark-downs as occurred at the year
end were, in general, limited to inferior
merchandise and odds-and-ends of
broken stocks, though some high-priced
luxury lines were undergoing a margin
squeeze. For the most part, however,
the consumer at the year end was paying
increased prices over the broad range of
his purchases.
Price-Income Disparities
The further upward adjustment of
prices has, of course, brought supply and
demand into closer balance. Price increases of the magnitude experienced in
the second half of 1946 priced some buyers out of the market, since the resulting
expansion of consumer income was not
commensurate with the higher prices,
nor did the income generated by the price
increases flow uniformly to all segments
of the population. In addition to those
consumers who are pinched and are
compelled to curtail their purchases,
there are others who have a margin of
spending above their day-to-day requirements and thus have no necessity
to purchase the same quantity of goods
in the face of higher price tags.
Such disparities limit the price rises
and—given the relatively high level of
per capita consumption—prevent prices
from rising indefinitely. Such limitations do not operate, of course, to halt
the rise at the point where relative price
stability might then ensue. In the past
the tendency has been for a rapid advance to carry prices beyond what could
be sustained for any length of time, thus
making a downward adjustment necessary. In the recent rise individual prices
have overshot the mark at which the cur-
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726543—47-
SURVEY OF CUEKENT BUSINESS
rent supply could be moved, and such
prices have come down from their highs.
That condition slowed the advance of the
general price sweep in December. While
prices were being marked up over a wide
range, the prices of farm products and
foods, which soared in the summer and
again in November, yielded some ground
in December and thus provided an offset
to the steady advances in industrial
prices.
The disparities arising among particular groups tend to be obscured in the
aggregate income and expenditure figures. The Quarterly data for 1946 show
that the tendency was for consumers to
step up their dollar expenditures in line
with their incomes which were increased
because wage and entrepreneurial incomes, as well as profits and dividends,
rose with the expansion in production
and distribution.
The volume of spending towards the
end of the year primarily reflected the
price increases and a holiday buying
spirit which, while not so exuberant as
a year ago, produced more free spending
than is likely to prevail as the effect of
the recent upward trend of prices has
its full impact upon consumers. Actually, the ratio of spending to incomes in
the final quarter of 1946 was higher than
in the second quarter—before price controls were lifted over a wide area. The
major manifestation of changed attitudes on the part of consumers was evident not so much in the totals as in the
increased discrimination of purchasing
which merchants noted even during the
Christmas period.
Some Retailers Scale Down Commitments
A constructive development of recent
months, in which the rapid rate of inventory accumulation has aroused widespread business interest, has been the
adjustment of the forward position of
some concerns. Data are not available
Table 1.—Consumer Expenditures for
Goods and Services
[Billions of dollars]
Preliminary
estimates
Item
Total consumer expenditures
Goods
Durables
Nondurables
Services 2
1941
74.6
49.2
9.1
40 1
25.4
1943
91.3
61.6
6.6
55.1
29.7
1945
106.4
73.3
7.7
65.6
33.1
4th
1946
quarter
19461
127
91
14
77
36
136
99
17
82
37
Note* Detail does not necessarily add to totals due to
rounding.
i Seasonally adjusted, at annual rates.
» Includes expenditures of military personnel abroad.
Source: U. S. Department of Commerce.
to indicate the extent of outstanding
orders in relation to sales for all businesses. From the regular monthly data
collected from manufacturers where
unfilled orders are significant, we know
that such backlogs are high. These are
mainly for durable goods with comparatively long production periods.
In the nondurable fields, and for retail
trade generally, we do not have the outstanding commitments. Statistics are
available, however, for a group of department stores which are above average
in size, with resultant advantages both
in purchasing and in merchandising and
marketing research. These stores have
undertaken a considerable adjustment of
their forward buying position since last
summer.
Holiday Buying in Record Volume
Consumer buying at retail stores during the closing months of 1946 raised
fourth quarter sales to about 23 percent
above dollar sales in the corresponding
period of a year ago. Due to the increased availability of durable goods, the
largest year-to-year gains were made by
stores selling these goods.
The holiday buying appears to have
penetrated some retail areas much more
than others. Jewelry stores represent
the outstanding case where sales have
lagged behind the generally rising trend.
The seasonally adjusted index of sales at
these stores was lower in October and
November than in any previous month
in 1946. Jewelry sales, however, ran
ahead of the general trend during the
late war years and up until 1946.
Apparel stores provided a similar
though less extreme case. Despite a
more than seasonal increase between
October and November, sales at these
stores remained below dollar volume in
several earlier months of the year, with
the physical volume of apparel goods
sales making a much poorer showing
than the dollar comparisons. Trade reports indicate that higher-priced lines
have borne the brunt of the apparel
sales lag. This fact was substantiated
by the concentration of the year-end
clearance sales in such lines as well as in
seasonal goods, although it was evident
that retailers were attempting to weed
out lower quality merchandise in view of
the shift in buying power.
With these exceptions, consumer buying continued in heavy volume through
the year end. This brought total retail
sales for 1946 to about 96 billion dollars,
on the basis of preliminary figures. The
sales total was 77 billion dollars in 1945.
Large Spending Rise in 1946
Preliminary estimates indicate that
consumers spent 127 billion dollars for
January 1947
all goods and services in 1946—an increase of 21 billion dollars, or one-fifth,
over 1945 expenditures. The 1946 estimate is about 70 percent higher than in
1941 and more than double expenditures
in 1939.
As shown in table 1, the annual rate
of consumer spending in the fourth
quarter of 1946 was 136 billion dollars,
after seasonal adjustment, or 9 billion
dollars above the total for the year. All
the major spending categories were at a
higher rate in the fourth quarter than
for the year as a whole.
Durables Make Partial Comeback
Consumer purchases of hard goods rose
from 8 to 14 billion dollars between 1945
and 1946, but there was ample evidence
that a much larger increase would have
occurred if supplies of automobiles, refrigerators, and other durables had been
larger. Not ony were there large unsatisfied demands for consumer durable
goods at the end of the year, but expenditures for durables were still low in
relation to the volume of consumer
income.
The service category represented
another area where 1946 expenditures
remained low relative to disposable income, despite an increase from 32 to 36
billion dollars during the year. This
situation reflected the effects of rent
control and the housing shortage. The
combined deficiency of expenditures for
both durable goods and consumer services relative to the rates of expenditures
indicated by prewar relationships to disposable income was more than offset by
a bulge in consumer spending for nondurable goods during 1946. Such expenditures were high in relation to income throughout the year.
New Spurt in Consumer Prices
Retail prices of consumer goods and
services spurted after the general reTable 2.—Percentage Changes in Wholesale Prices in 1946
June
29-November
9
All commodities *
Farm products
Foods
- „
All commodities other than
farm products and foods.
Hidesand leather
Textiles.
Fuel and lighting
Metals and metal products i
Building materials
Chemicals and allied
products...
House furnishings..
_.
Miscellaneous
Novem- December 9- ber 28
Decem- from a
ber28 year ago
19.6
18.3
43 3
3.6
1.0
—2.]
30.5
26.4
45.3
9.6
28.2
20.0
8.2
7.3
7.9
2.4
2.4
23.2
43.5
32.5
13.7
2.5
7.4
17.0
10.4
27.2
30.0
13.7
6.1
7.2
14.4
2.6
2.7
31.2
13.3
13.4
1
Motor vehicles were included in the index at current
prices beginning in the week ending November 30, 1946;
prior to that date, April 1942 motor vehicle prices were
carried forward in the computations.
Source: Basic data, XJ, S. Department of Labor.
January 1947
moval of price controls in early November, with the B. L. S. consumers' price
index advancing to 152 (1935-39=100)
by the middle of that month—a rise of
2.2 percent from mid-October. The further upward adjustment from November
to December raised the index above 153,
on the basis of preliminary figures. At
the latter point the index topped the
previous record established in June 1920.
Although some increases were made in
the prices of clothing and house-furnishings, the largest advance in November was a 4.3 percent rise in food prices.
The latter prices advanced again in December but at a somewhat slower rate.
Although the index of food prices at
wholesale registered a small decline in
December, the decline was from high
levels not fully reflected in the November
retail food index.
The preliminary estimates indicate
that the consumers' price index at the
year end was 18 percent higher than in
December 1945 and 15 percent higher
than in June 1946. The increases in retail food prices were 34 percent and 30
percent, respectively, between the same
dates.
Sharper Price Rise at Wholesale
The BLS wholesale price index, which
covers the prices of almost 900 commodities, has moved up at a faster rate than
the retail or consumers' price index. The
year-to-year rise was about 31 percent
at wholesale as compared with 18 percent at retail. The two price averages
vary as to coverage and weighting.
Wholesale price changes during December reflected the adjustments associated with the successive decontrol actions during the preceding two months.
The broad movement of prices continued
to be upward, with the BLS index reaching 140 (1926=100) in the week ending
December 28, as compared with 126 in
the week of October 12, just prior to the
decontrol of meats, and 113 in the final
week of June. The rapidity of the recent advances is shown by contrasting
the rise of 24 percent during the second
half of 1946 with the increase of 21 percent in wholesale prices during the 4 ^
years from Pearl Harbor to June 1946.
Since the termination of virtually all
commodity price controls, the primary
area of rising prices has shifted from the
earlier fast rising prices of farm products and foods to the prices of industrial
commodities. This shift is indicated by
the computations shown in table 2.
In the 7 weeks ending December 28,
the prices of commodities other than
farm products and foods rose 7.3 percent,
whereas the rise in farm products prices
was scaled down to only 1.0 percent and
food prices declined 2.1 percent. As a
SURVEY OF CURRENT BUSINESS
Chart
1.—Income Payments
Individuals
to
BILLIONS OF DOLLARS
200
TOTAL INCOME
PAYMENTS
INCOME PAYMENTS BY
PRIVATE INDUSTRY
160 -a
120
-1945
MONTHLY
TOTAL, SEASONALLY ADJUSTED,
AT ANNUAL RATE
46-384
1 Represents pay of Federal, State, and local government employees, pay of the armed forces in this country and abroad, Government interest payments, and
miscellaneous items.
2 Major items included are social-insurance benefits,
the Government's contribution to family allowances
paid to dependents of enlisted military personnel, mustering-out payments to discharged servicemen, and veterans' pensions, compensation, and readjustment allowances.
3 Major items included are net income of farm and
nonfarm proprietors, rents and royalties, dividends, and
interest on nongovernment debt.
Source of data: U. S. Department of Commerce.
result, there has been some realignment
of prices in the direction suggested in
last month's analysis of price relationships. The price increases from the end
of June to the end of December were as
follows: Farm products, 20 percent;
foods, 40 percent; and all other commodities, 18 percent.
Some Price Declines Recorded
While the final adjustment of many
prices to the lifting of controls has not
yet occurred, there are some areas where
prices have declined from the tops
reached in the swift rise following decontrol. For example, prices of hides
and skins which had soared almost 50
percent upon decontrol at the end of
October had receded 13 percent by the
final week in December. Similarly, livestock and meat prices have slid down
from peaks reached shortly after decontrol.
A few price areas have shown no noticeable response to the general removal
of controls in November. Wholesale
prices of various building materials, sev-
eral textile products, fertilizer materials
and some other categories have been
practically stable over the last month or
two. Such behavior can be partly explained in terms of the extent of price
increases previously granted under price
control—as in the case of textiles and
building materials—or in terms of the
customary delay of some prices in responding to changing demand-supply
conditions.
Income Payments Continue to Climb
Income payments rose steadily after
February, with the exception of the temporary setback in September. (See
chart 1.) During November, total income payments (at seasonally adjusted
annual rates) advanced to 174 billion
dollars from 171 billion dollars in October. The major portion of the October
to November rise occurred in farm income—as a result of higher prices and
larger-than-seasonal m a r k e t i n g s —
whose movements have tended to dominate the changes in income payments
for the last 5 months. During this period, however, aggregate salary and
wage payments in private industries
rose substantially.
Preliminary figures place the annual
total of income payments to individuals
in excess of 164 billion dollars for 1946.
The total was 161 billion dollars in 1945
and 157 billion in 1944.
Department Stores Cut Commitments
One of the few clear evidences of more
cautious buying operations is found in
the declining trend of outstanding orders of department stores now continuous since July 1946. Whether this
situation is typical of other classes of
retail stores is not known. That department stores should be among the
first to shorten their outstanding commitments can be explained in terms of
their above-average size and in terms of
their concentration in those soft goods
lines where the tendency of sales to lag
has been noticeable for several months.
While department store inventories in
recent months have been no larger relative to sales than they were in a prewar
year such as 1940, the position of outstanding orders relative to sales has
been quite the reverse. In prewar years
outstanding orders were about 1 month's
sales, but during the first 9 months of
1946 these orders exceeded 3 months'
sales. The pertinent data are summarized in table 3 for a sample of 296 department stores reporting to the Federal
Reserve banks.
The operations of these stores, which
are larger-than-average units whose aggregate sales represent about one-third
of the sales of all department stores.
SURVEY OF CURRENT BUSINESS
show clearly the improvement in the
supply of goods in recent months. The
following table presents some interesting comparisons of sales, receipts, and
inventories for the sample of 296 stores:
Computed new
orders as
percent
of sales
January-November:
1944
1945
1946
Receipts Inventory
of new
goods as accumulation as
percent
percent
of new
of sales
orders
110
112
112
5
6
14
95. 2
94. 5
102.0
During the first eleven months of 1944,
1945, and 1946, department store managements placed new orders for goods in
quanties which were closely related to
sales. The relative supply situation during these periods is reflected in the percentage of goods actually received to new
orders placed. During 1946, producers
were able to deliver more, instead of less
goods than were newly ordered by buyers
who in the latter part of the year were
under instructions to shorten their commitments.
Department stores made substantial
additions to inventories during 1946, just
as did businesses generally. This rise did
not result in an unusually high inventory-sales ratio, since stocks were relatively low after the end of the war and
sales continued to rise substantially
while inventories were being accumulated. Nevertheless, the accumulation
was sufficiently large in a few lines to
result in a top-heavy inventory situation for the particular goods in question,
The value of stocks on hand continued
to rise during the latter months of 1946
despite the reduction in net new orders
placed each month. In the months following August, new orders remained below 300 million dollars a month for the
stores covered in table 1, as contrasted
with a monthly average in excess of 350
million dollars during the first 8 months
of the year. The value of outstanding
orders was reduced from well over 1 billion dollars during the summer months
to under 700 million dollars in November. As a result, the stocks of these
stores plus their outstanding orders at
the end of November were lower in relation to sales than was the case in November 1945.
The fact that department stores began
to contract their outstanding orders at a
time when such commitments extended
over a long period and when over-all demand was still in an expansionary phase
meant that the producers were able to
weather the contraction without any
noticeable effects on general business
activity. The impact of broad adjustments of this character will not be fully
felt until this shortening becomes more
widespread, as it will once the inventory
situation clears. The more gradually it
can be effected the less severe will be
the impact.
Manufacturers' New Orders Remain High
The change in department store buying has, of course, affected the volume of
new orders reaching manufacturers.
Partly because of this factor, new order
Table 3.—Sales, Stocks, and Outstanding Orders of 296 Department Stores
[Millions of dollars]
Period
1940
1Q41
1942
1943
1Q44
1945
monthlv
monthlv
monthly
monthlv
monthlv
monthlv
averase
average
average
avera.ce
averasre
averase
1944:
November
Tamiarv November total
1945:
November
_
_. __
January-November, total
December
_
1946:
January
February
- __
March
April
- May
June
Julycr
Au ust
September
October
_..
November
- _ __ __ _
Tamiarv November total
Sales
Stocks,
end of
month
Outstanding orders,
end of
month
Receipts
(computed) 1
Stocks
and outstanding
orders,
end of
month
Percent
stocks and
outstanding
orders are
of sales
401
613
862
1,038
1,094
1,292
339
393
482
509
4S2
507
309
2, 572
1,193
398
312
2,782
289
391
2,943
274
1,381
413
1,226
286
253
281
350
381
334
329
280
374
331
392
444
385
364
345
317
358
443
305
313
279
277
289
1,387
1,512
1, 556
1, 554
1, 608
1, 747
1,808
1,818
1,788
1,724
1, 609
619
633
517
487
529
575
741
600
579
560
398
3,749
3, 675
136
156
179
204
227
255
353
419
599
508
534
564
108
194
263
530
560
728
300
2 337
580
613
273
2,450
334
2, 631
429
602
779
462
764
224
239
301
319
304
304
244
303
309
341
404
491
533
582
644
674
699
735
806
828
879
919
896
979
974
910
934
1,048
1,073
1,012
960
845
690
3 292
Net new
orders
(computed) 2
* Receipts equal sales plus inventories at end of month less inventories at beginning of month.
Net new orders equal orders outstanding at end of month less orders outstanding at beginning of month plus receipts.
Sources: Basic data, Board of Governors of the Federal Reserve System; computations, U. S. Department
of Commerce.
2
January 1947
volume in the apparel industry in October and November was below that in
earlier months, despite higher prices.
On the other hand, the new order data
available from manufacturers suggest
that the adjustments made by department stores have not yet extended
widely. The Office of Business Economics index of new orders, which covers a
large segment of durable and nondurable goods manufacturing, was higher in
November 1946 than at any time since
early 1945 when munitions procurement
was very heavy. There continue to be
instances—in the steel industry, for example—where firms temporarily refuse
to accept additional orders because of
the heavy backlog of unfilled orders.
Manufacturers' Pipelines Filling Up
The rapid rise in the value of manufacturers' inventories during the last
half of 1946 was very pervasive. The
rise—which to some extent reflected the
advance
in
prices—applied
almost
equally to stocks in all industries and in
all stages of fabrication. As shown in
chart 2, manufacturers' inventories continued to expand through November, but
with the notable exception of a decline
in finished goods held by nondurable
goods industries.
The aggregate book value of manufacturers' inventories was close to 20
billion dollars at the end of November.
The dollar addition to stocks during the
month amounted to approximately 335
million dollars, which was not so large
as the monthly increases for July
through October.
Relative to holdings as of January
1945, the rebuilding of manufacturers'
stocks has proceeded most rapidly in the
case of raw purchased materials. However, the value of goods in process had a
larger rise if the advance is measured
from the close of 1945 when the liquidation of war goods was essentially completed. Combined inventories of finished goods have been advancing at a
rapid rate only since the spring of 1946,
although some of the additions to stocks
of finished goods before that date were
offset by the liquidation of war inventories and, hence, do not show up in the
reported figures.
Shipments Approaching War Peak
The daily rate of manufacturers' shipments—reflecting price increases as well
as production advances—rose 10 percent
from October to November, which is one
of the largest month-to-month increases
on record. The sharpest advance was
in food products—more specifically, in
meat-packing, which responded to the
price decontrol action in the preceding
month. The value of steel deliveries also
SURVEY OF CURRENT BUSINESS
January 1947
Chart 2.—Manufacturers' Inventories, by Stage of Fabrication 1
INDEX, JANUARY 1945 •= 100
130
ALL INDUSTRIES
120
110
RAW MATERIALS'
This was in contrast to the first half of
the year when durable goods industries
took the lead in expanding shipments.
(See chart 3.) About half of the rise in
the nondurable goods industries since
July has been in the food group where
price increases have been most pronounced.
Chart
Production Edges Higher
300
Not only did the rate of shipments advance in November, but the index of industrial production edged slightly higher
in that month, after allowance for seasonal variations. Iron and steel and bituminous coal provided the only important exceptions to the generally well
maintained or expanded volume of output.
Coal output recovered rapidly after the
miners returned to the pits on December
9 and soon exceeded the prestrike rate.
Weekly steel operations rose from the
low of 60 percent of rated capacity in
early December to 84 percent in the preChristmas week. The rate advanced to
88 percent by the turn of the year.
Significant among the November gains
in production were the advances in nonferrous metals, in lumber—where the
usual seasonal decline did not materialize—and in manufactured food products.
Small gains were also recorded for cotton and rayon textiles, paperboard, rubber products, industrial chemicals, and
stone, clay, and glass products.
GOODS IN PROCESS
70
120
DURABLE GOODS
INDUSTRIES
110
1-00
RAW MATERIALS
AND GOODS IN
PROCESS
80
130
NONDURABLE GOODS
INDUSTRIES
120
110
100
Holidays Slow Automobile Output
90
-
1946
i Data are for the end of month. Figures for November 1946 are preliminary estimates.
Source of data: U. S. Department of Commerce.
increased, since the coal strike did not
cut into shipments until the month's end.
At 269 (1939=100), the index of the dollar value of manufacturers' shipments in
November was only 6 percent below the
war peak.
All major industry groups shared in
the expansion of the dollar total of shipments during the latter half of 1946.
Production of passenger cars and
trucks averaged about 95,000 a week
during the first 3 weeks of December.
Workers' holidays and year-end closings,
however, accounted for a drop in the
output rate in the latter part of the
month. As a result, the steady rise in
the daily average rate of passenger car
and truck output per month was interrupted in December.
Employment Steady at 57 Million
November marked the third successive
month that total civilian employment
remained virtually unchanged at 57 million. Likewise, the number of workers
3.—Manufacturers'
ments
Ship-
INDEX, AVG. MO. 1939 = 100
400
-
200
NONDURABLE GOODS
INDUSTRIES
100
1 I I I I I
I I I I I 1 I I I I I
1945
1946
46-?oi
1
Adjusted for the number of working days in month.
Source of data: U. S. Department of Commerce.
unemployed during the census weekNovember 3-9—continued at about the
2 million level which has prevailed since
August. Some shifts in employment occurred toward the end of November and
in early December because of the disruptions to production occasioned by the
17-day work stoppage at the bituminous
coal mines, but these shifts were not important in the over-all picture.
Although total civilian employment
was virtually unchanged between October and November, agricultural employment showed the customary seasonal
decline, which this year amounted to
about 700,000, and nonagricultural employment increased by the same /umber, which was larger than the usual
seasonal gain. The latter increase was
associated with the gains in trade and
industrial production noted in the preceding sections.
Seasonal Decline in Construction
Construction activity fell off toward
the end of the year, entirely because of
seasonal influences. In terms of work
put in place, the drop between November and December was from 985 to 910
million dollars.
The Authorized Increase in Railway Freight Rates 1
Substantial increases in freight rates
were granted by the recent decision of
the Interstate Commerce Commission
1
Prepared by the Transportation Division,
Office
of Domestic Commerce.
authorizing the railroads to increase
rates by an estimated 17.6 percent, on
the average, over those in effect prior
to the interim increases of last July.
The amount of additional revenue which
will be derived by the carriers from this
increase is of course dependent upon the
volume of traffic which will materialize
during 1947. On the basis of current
traffic trends, it would appear that the
gross revenues of the carriers will be enlarged by approximately 1 billion dollars
6
SUKVEY OF CURRENT BUSINESS
a year. A portion of the increased
charges will be passed on to consumersafter being pyramided in many cases by
the application of distributors' marklips on cost of goods sold—and the renainder will be diffused throughout industry and absorbed by producers and
distributors generally.
Postwar Decline in Earnings
Railroads have experienced a sharp
decline in earnings since the end of the
war, as a result of a decline in the
volume of traffic and increased labor and
material costs. Wage rates were increased in 1941, 1943 and 1946. At present, the average straight time hourly
rate for labor is 51 percent higher than
in 1939. The railroads have experienced
increases in payroll taxes, vacation pay,
and retirement benefit payments. Furthermore, costs for materials and supplies have also increased markedly during the past few years. In August 1946
the weighted average index for these
items was about 50 percent higher than
in 1939.
Rising wage rates and material costs
caused no financial difficulties for the
carriers during the war period, since
these increases were more than compensated for by the huge wartime increases
in traffic and revenues. However, traffic
has since declined, especially sharply in
the case of passenger traffic which experienced about a fourfold increase
between 1940 and 1944.
Net income after taxes of Class I roads
amounted to 154 million dollars for the
first 10 months of 1946, as compared
with 490 million dollars in the comparable period of 1945. (See table 4.)
If tax credits under the carryback provisions of the income tax law are deducted, the 1946 figure is only 69 million,
dollars. Moreover, the roads operated
at a deficit during the first half of the
year, moving into the black only as a
Result of increased traffic during the
summer and the interim rate increases
which became effective in July. These
earnings results of the railroads provide
a sharp contrast with the year-to-year
gains in after-tax profits reported by a
large segment of industry in 1946.
As is illustrated in chart 4, the total
volume of revenue ton-miles in 1946 was
about one-seventh below the volume of
the previous year and about one-fifth below the 1944 volume, which was the war
peak. Nevertheless, revenue ton-miles
were considerably higher than in any
year prior to 1942. The traffic decline
since the end of the war has been more
marked in the case of railway passenger
travel, which was cut about one-third
between 1944 and 1946. This declining
trend has not yet been arrested.
The recent decision by the Interstate Commerce Commission
authorized increases in railroad
freight rates averaging about 17.6
percent above the rate levels in effect a year ago and about 11 percent above the levels in effect since
July 1946. This action will add
approximately 1 billion dollars to
railway operating revenues. The
rate increases were generally designed to minimize any disruption
of existing marketing relationships.
Interim Increases Granted in June
In April 1946, the Class I railroads petitioned the ICC for a 25 percent increase
in freight rates, with exceptions, on the
grounds that increases of this magnitude were necessary to permit profitable
operation in 1946 and 1947. The exceptions were in general designed either to
preserve the competitive relationship between suppliers of common markets or
to prevent diversion of traffic to other
forms of transportation. Since these
exceptions applied to many important
commodities and provided for increases
considerably less than 25 percent, the
actual average rate increase requested by
the carriers was about 19.6 percent.
On June 20 the ICC granted emergency relief in the form of interim increases, effective on July 1, 1946. These
emergency increases represented with
certain changes a rate increase previously authorized in March 1942 but subsequently suspended when it became apparent that the carriers would be prosperous during the war period. The
emergency increases amounted to 6 perTable 4.—Revenues, Expenses, and Net
Income of Class I Railways
[Millions of dollars]
Net
Period
Opera- Operatrailway
Net
ting re- ing ex- Income
operatvenues penses taxes ing in-l income
come
1939
1940
1941
1942
1943
1944
1945
JanuaryOctober:
1945
1946
3. 995
4,296
5 346
7.465
9,054
9 436
8,902
2,918
3, 089
3 664
4, 601
5, 657
6,282
7,051
355
396
547
1,198
1,849
1, 846
823
588
682
998
1,484
1, 359
1 106
852
93
188
499
901
873
667
*450
7,624
6,332
5, 538
5,272
1,106
483
831
451
2 490
3 154
1
Operating revenues less operating expenses, taxes, and
rents
(not shown separately).
2
During 1945 the carriers made large charges to operating expenses for amortization of defense projects. As
a result, net income was 160 million dollars less for the
full year 1945 and 53 million dollars less for JanuaryOctober 1945 than it would have been if only normal
depreciation
had been chnrged to operating expenses.
3
Approximately 85 million dollars represents income
tax carry-backs. Without such credits net income
totaled about 69 million dollars.
Source: Interstate Commerce Commission.
January 1947
cent on most commodities with smaller
increases on agricultural commodities
and on certain products of mines. An
additional 5-percent increase was authorized in the Eastern or Official Territory. Specific increases were granted
on coal and iron ore and substantial rate
relief was accorded on certain minor
railroad services. According to an
I. C. C. press release, the average increase for all commodities was about 7
percent in the East, 4.9 percent in the
South and West, and approximately 6.5
percent on a nation-wide basis.
New Increase Averages 17.6 Percent
The new scale of rates authorized by
the Commission supersedes the interim
rate increases in effect since July 1, 1946.
The Commission estimated that after
taking into account lower increases on
excepted articles the new rates authorized are approximately 17.6 percent
higher than those in effect before the
interim rate increase and about 11 percent higher than the interim rates.
In general, the rate increases authorized are 20 percent on nonagricultural
commodities, subject, however, to numerous exceptions covering commodities
of major importance such as coal, iron
ore, certain additional products of
mines, lumber, petroleum and petroleum
products, sugar, iron and steel products,
aluminum, canned foods, and building
materials. For the excepted commodities the Commission authorized either a
flat increase or a percentage increase
limited to a certain maximum in cents
per 100 pounds. The exceptions, which
reduce the increase below 20 percent on
excepted commodities, are designed to
keep low-rated traffic moving, to prevent
diversion, and to maintain competitive
market relationships.
On most agricultural commodities—
other than fruits where increases of 20
percent are authorized—a general rate
increase of 15 percent is authorized, with
exceptions on grain designed to maintain market relationships and with maximum limitations—similar in character to
those for nonagricultural commodities—
on cotton, citrus fruits, and other fruits
and vegetables. In Eastern or Official
Territory, rates on articles under the
commodity grouping of Manufactures
and Miscellaneous, class rates, and rates
on less-than-carload traffic and anyquantity traffic may be increased by 25
percent, subject to certain exceptions.
On such traffic between Official Territory and other rate territories an increase of 22.5 percent is authorized. In
other rate territories the authorized increase on these items is 20 percent.
In addition to the major increases
enumerated above, rate increases were
SUEVEY OF CUEKENT BUSINESS
January 1947
Chart 4.—Railway Revenue Traffic, All Railways *
BILLIONS OF TON-MILES
BILLIONS OF PASSENGER-MILES
100
1,000
i
I
i
i
1^.
800 —
\
\
\
80
\
\ \
600 —
(LEFT SCALE)
+~s
>60
r,
FREIGHT TON-MILES
/i
h
I%
\
400
— 40
—
I\
PASSENGER-MILES
2 0 0 __
\
V ^ ^ ^
(RIGHT SCALE)
\
*%
V
— 20
—
© ESTIMATED
i
0
1915
i
i
i
S i
1920
i
i
i
1 i
1925
i
i
i
1 i
1930
t
i
t
1 t
1935
i
II
ft
1940
I
I «
|
1945
D.D. 45-444
Data do not include switching and terminal companies.
Sources of data: Interstate Commerce Commission, except data for 1946 which are estimates of the U. S. Depart"
ment of Commerce.
1
authorized for virtually every type of
railroad service. The Commission also
made permanent the 10 percent increase
in passenger rates which had been in
effect since 1942 on a temporary basis.
Carriers Forecast Income for 1947
Attempts to measure the benefits which
the railroads will derive from the authorized increases are difficult because
of uncertainties concerning the level of
traffic which may be expected to prevail
in 1947. The railroads estimated their
1947 traffic at 584 billion ton-miles and
48 billion revenue passenger miles. With
freight traffic at that level, the authorized increases would yield additional
gross revenues of approximately 970 million dollars, assuming that all of them
are placed in effect by the carriers. On
each 10 billion ton-miles of freight traffic the rate increases would produce an
estimated 16.6 million dollars in additional operating revenue.
If the carriers' estimates of operating
expenses and other deductions are accepted, the indicated net income for 1947
comes to about 340 million dollars before
income taxes, and about 200 million dollars after income taxes. The carriers
had estimated net income after taxes of
252 million dollars on the basis of the full
increase requested. At the war peak
after-tax earnings exceeded 900 million
dollars. The average for the 1940-45
period was almost 600 million dollars a
year.
In making their forecast for 1947 the
railroads apparently allowed for some
decline in business activity from present
levels since the estimate of 584 billion
ton-miles is only four times the traffic of
the first three months of 1946—a period
marked by serious labor and reconversion difficulties—and is substantially below the traffic levels reached during
the summer. Traffic during the four
months, July through October 1946, was
at an annual rate of more than 650 billion revenue ton-miles and all demands
for cars were not satisfied. This period,
admittedly, covers the seasonal peak in
traffic but it might also be noted that
during this period a number of basic industries were still far from full-scale
production.
If the anticipated agricultural crops
are produced and if full-scale industrial
activity prevails in 1947, traffic might
reach a total of 620 billion revenue tonmiles for the full year or 6 percent more
than estimated by the railroads. Such
an increase over the carriers' estimate
would mean approximately 400 million
dollars of additional operating revenue
and a substantial increase in net income. Should industrial activity decline
sharply, however, not even the carriers'
estimate would be realized.
The carriers' forecast of operating expenses might be compared with computations made by the Interstate Commerce Commission. In its report approving the rate increase the Commission projected the operating expenses
actually incurred during the third quarter of 1946 for a constructive year, after
making appropriate allowance for seasonal variations and additional payroll
taxes which will apply in 1947.1 Such a
projection assumes traffic of approximately 600 billion ton-miles and about
60 billion passenger-miles, which is
larger than the volume of traffic anticipated by the carriers. Nevertheless, the
Commission's constructive year estimate
of operating expenses is less than the
amount anticipated by the carriers for
1947. Neither computation allows for
further sharp rises in either material
costs or labor costs.
In its report on the rate increase the
Commission called attention to the fact
that the operating efficiency of the railroads has been declining since 1942.
During the first six months of 1946, 14
percent more manhours were required
than in 1942 for each 1,000 gross tonmiles in road service.2 If the railroads
in 1947 even approach the efficiency at
which they operated in 1942, the savings
in labor and pay-roll taxes alone would
amount to more than 250 million dollars.
Other Carriers Will Benefit
Other forms of transportation, chiefly
motor and water carriers, will also derive
revenue benefits from the rate increases
authorized by the Commission. Although
the rates of motor carriers, with the exception of joint rail-motor rates, are not
authorized to be increased by the decision, one major group of common carriers has already requested rate increases
comparable to those granted the railroads and other motor carriers are expected to take similar action. Of particular significance to trucking are the
increases on commodities under the
grouping of Manufactures and Miscellaneous, on class rates, and on less-thancarload rates. Less-than-carload traffic
is particularly susceptible to trucking
competition. The motor common carriers have experienced sharp increases
in costs during the war period. Accordingly increases in the rates of their rail
competitors afford an opportunity for
motor carriers to ask for rate relief.
If motor carriers seek and obtain rate
increases designed to make their rates
1
Interstate Commerce Commission, Increased Railway Rates, Fares and Charges,
1942 and 1946, Ex parte Nos. 148 and 162,
December 5, 1946, Sheet 10.
2
Ibid., sheet 11.
8
comparable with those of the railroads,
the rail rate increase will divert relatively little traffic to the common carrier truckers. Some diversion will occur
on a short-run basis, however, particularly in cases where motor rates have
heretofore exceeded the rail rates. Diversion of traffic to contract and private
truckers is likely to be somewhat greater
than diversion to common carriers. The
railroads may be expected to seek to prevent any serious diversion by increasing
their rates to less than the full extent
authorized in cases where the full increase would shift any large volume of
traffic to the trucks.
In addition to revenue benefits on lessthan-carload traffic and on traffic in
high-rated materials and miscellaneous
commodities, the trucks may expect
either additional traffic or higher rates,
or both, on certain other classes of commodities. On fresh fruits and vegetables,
for example, short-haul trucking participation is likely to increase, although
the maximum limitation of 13 cents per
100 pounds will preserve most of the
long-haul business for the railroads.
Greater trucking participation in the
hauling of livestock and of milk and
cream may also be expected although
once again most of the diversion which
might take place will be on relatively
short hauls. A similar situation prevails
with respect to canned foods and paper
and wood pulp.
The total diversion to motor carriers
on all types of traffic may amount to a
fairly substantial volume of tonnage, but
will not seriously reduce the revenue
ton-mileage of the rail carriers since
comparatively little long-haul-business
will be lost to the trucks as a result of
the decision.
The water carriers will derive fairly
substantial revenue benefits from the authorized increases, although the decision
itself will not have the effect of diverting much additional traffic to water
movement except possibly on a few bulk
commodities. Water rates in general
may be raised to the same extent and on
the same basis as are rail rates. Joint
water-rail rates may also be increased.
Water rates—including those not subject to ICC control, such as bulk coal
movements—probably will be raised in
proportion to the increases on competitive rail rates. However, the average
rate increase derived by the water carriers will be substantially lower than
that afforded the railroads, since much
of the traffic susceptible to water movement is subject to flat increases or to
limitations on the maximum increases.
The effective increase in water rates is
likely to range between 12 percent and
SUEVEY OF CURRENT BUSINESS
15 percent, as compared with an average of 17.6 percent for the railroads.
Barge operators on the inland waterways will derive particular benefits from
the increases on petroleum, coal, sulphur, sugar, grain, and iron and steel,
since these commodities normally move
in heavy volume on the rivers. Coastwise and intercoastal operators will benefit from the increase on lumber, canned
foods, and iron and steel products. On
intercoastal port-to-port movements the
increase on lumber and iron and steel
will amount to about $2 a ton and on
canned foods to about $2.60. These increases, however, appear insufficient to
reestablish private operations in the
coastal trades on a profitable basis. At
present virtually all shipping in the
coastal trades is operated by the Maritime Commission with heavy financial
losses to the Government. In the absence of further rate relief or a sharp
reduction in operating costs, the major
result in the coastal trades may simply
be to reduce the operating losses to the
Government.
Minimum Effect on Competitive Markets
Percentage increases on industrial and
agricultural products have the effect,
where they are applicable, of enhancing
the competitive position of industries
and farm producers located close to markets and to sources of raw materials. In
the recent rate increase authorization,
however, the Commission in a number of
instances sought to limit percentage increases which would seriously disrupt existing competitive market relationships.
In the case of many important raw materials and agricultural commodities the
Commission either applied a flat increase
or limited the percentage increases to a
maximum amount.
Grain, for example, was given a 15 percent increase but the increase was accompanied by a mandate to restore rate
relationships and market, gateway, and
port equalizations. Likewise, the 10
cents per 100 pound maximum limitation on cotton was designed to prevent
disruption of existing market patterns
for that commodity. On citrus fruits
and fresh fruits and vegetables the
Commission limited the percentage increases to a maximum of 13 cents per 100
pounds. The result is to preserve the
existing differentials between Florida,
Texas, and Pacific Coast products marketed in the northeastern part of the
United States.
The Commission preserved the market
position of the western lumber suppliers
by limiting the percentage increase on
that commodity to 10 cents per 100
pounds, although southern producers
January 1947
urged a percentage increase without
limitations. On sugar the percentage
increase was also limited to a 10 cents
per 100 pounds maximum, with the effect
of preserving existing relationships between southern cane and western beet
sugar suppliers. For iron and steel the
$2.00 a ton maximum authorized increase protects existing producers who
normally supply distant markets. On
canned foods a maximum of 13 cents per
hundred pounds preserves the position
of the western canners just as the similar maximum on fresh fruits and vegetables preserves the position of the western growers.
In the case of coal, the entire system
of increases proposed by the carriers was
rejected, and a new series of graduated
increases was proposed by the Commission, with a view to maintaining insofar
as possible existing market relationships
in that commodity.
Except for a 5 percent differential on
certain traffic in Manufactures and Miscellaneous, class rates, and less-thancarload rates in Official Territory, the
Commission equalized the authorized
rate increases in all rate territories because of complaints that the additional
increases permitted in Official Territory
under the interim decision had disrupted
the existing competitive pattern.
Some attempts also were made to protect the relationships between different
products which compete with each other.
The outstanding example of this treatment is the action taken with respect
to aluminum and steel. The Commission increased the rate on aluminum and
bauxite ore by 12 cents a ton and made
a similar increase of 12 cents a ton in
connection with iron ore shipments—
except for rates in the Lake Superior
area, which were admittedly profitable
and on which no increase was granted.
For pig iron a 20-percent increase subject to a maximum of 10 cents per 100
pounds was allowed and the identical
increase was applied to pig aluminum.
Only in finished products did the Commission depart slightly from this identity of treatment by allowing 20 percent,
or a maximum of 10 cents per 100
pounds, on iron and steel, while the increase permitted for aluminum sheet
was 20 percent, or a maximum of 12
cents per 100 pounds.
Similar action was taken in limiting
the increase on wool to a 20-cent maximum in order not to interfere with its
competitive position in relationship to
cotton. Likewise, identical increases
were allowed for both anthracite and
bituminous coal which, to some extent,
compete with each other. On packing
(Continued on p. 24)
January 1947
SUEVEY OF CUEEENT BUSINESS
9
The Postwar Business Population
By Melville J. Ulmer
URN-OVER in the business populaT
tion during the past 5 years has been
greater than in any other period in the
Summary
By the end of 1946 the business
population had regained its wartime loss and exceeded its prewar
peak in September 1941. Although
sharper than in any other period
on record, the rise in the number
of firms in operation since VJ-day
was no greater than might have
been expected on the basis of the
current level of business activity.
Despite the fact that the broad
peacetime patterns of the business
population have been reestablished, the year 1947 will, be one of
considerable readjustment, especially because of the presence of
numerous untried concerns. Although discontinuance rates are
now uniformly low, they are due
for a rise which will affect some
lines appreciably more than others.
Rates of entry were still high in
late 1946 but were beginning to
level off.
18-year span for which records are available. Beginning with the attack on
Pearl Harbor the number of firms in
operation in the United States declined
sharply until the end of 1943. The excess of business deaths over births during these years amounted to 560,000, or a
drop of 17 percent in the prewar business population.
The subsequent reversal of this wartime decline began slowly but was accelerated swiftly with the unconditional
surrender of Germany and Japan. By
June of 1946 the business population had
not only regained its wartime losses but
had surpassed its prewar peak of September 1941. This rise continued
through the remainder of 1946, although
at a slower pace than during the first 6
months of the year.
This article is concerned with the nature and characteristics of the current
rise in the number of firms in operation,
with shifts in the rate of entry of new
firms and in discontinuance rates, and
also with the shifts in the pattern of the
business population which occurred during the war and since VJ-day. Broadly,
the object is to provide information and
tools of analysis bearing especially on
two types of questions: (1) In which
direction is the business population
heading? How much further increase,
if any, may be expected? (2) In which
segments of the economy has the number of firms neared or reached the level
that could be expected with current incomes? In which segments does there
appear to be substantial room for further
expansion?
Especially in a period of record business turn-over such as the present, these
questions are of interest to both prospective and established entrepreneurs, as
well as to those concerned with the general analysis of economic tendencies.
Number of Firms in Operation
In June 1946 the number of firms in
operation just topped 3y2 million, nearly
670,000 more than at the low point of December 1943 and a hundred thousand
more than at the prewar peak of September 1941. Underlying this unprecedented advance, which is illustrated in
chart 1 along with the prewar behavior
of this series, were the familiar characteristics of the reconversion period—the
release of men from the armed forces,
the gradual easing of material supplies
for civilian use, rising sales in all lines,
and the apparent abundance of profit
opportunities presented by the long-deferred demands for the numerous commodities produced in only limited quantities or not at all during the war.
NOTE: Mr. Ulmer is a member of the Business Structure Division, Office of Business
Economics. The author wishes to acknowledge the assistance of Miss Alice Nielsen in
assembling and analyzing the basic data
employed in this report.
Basic Relationships
Whether this rise was excessive, not
great enough, or exactly what should
have been expected in the light of the
postwar economic situation, however, are
72^543—47
2
questions which may be answered only
on the basis of a broader analysis than
that provided by a summary of the
business population statistics alone.
Changes in the number of firms in operation are affected by numerous factors,
the principal one of which, at least in
the short run, is the level of business activity. Other causal factors influencing
the size of the business population are
more stable in character, in that their
alterations are normally modulated and
the perceptible effects of their change
upon the economy in peacetime have
been gradual. These other factors include the technology characteristic of
the period, the prevailing competitive
conditions, and the functional pattern of
the economy considered as a whole.
Thus, it is apparent from chart 1 that
the major swings of the business cycle are
reflected in the size of the business population. A systematic analysis of this relationship a reveals that during the pre1
The equation for this relationship, based
on a linear least squares regression for the
years 1929-40, is:
y=24.41 + .1004x+.06tt
Where y== number of firms in hundreds of
thousands; a?= gross national product in
billions of 1940 dollars, excluding Government and agriculture, and £= time in 6month intervals centered at December 31,
1934.
Although price data presently available do not permit precise deflation of each
element of the private gross national product, substantial errors are likely only in the
war years when even conceptionally a "deflated" gross national product presents great
difficulty. As already indicated, the regression equation is based on prewar years only.
It may be noted that in addition to the
relation between the business population and
the level of business activity, the equation
indicates a slight upward trend in the number of firms amounting to an annual increment of 12,000. This trend is attributable
primarily to the gradual increase in the relative importance of the distribution and service industries through the period covered by
the regression. In 1929, firms in the distribution and service industries comprised less
than 68 percent of all concerns in operation
against more than 71 percent in 1940. Since
the distribution and service industries are
typically ones in which the average firm is
comparatively small, the net effect of their
growth was to increase the number of concerns in operation in relation to the amount
of goods and services produced in the
economy as a whole.
SUKVEY OF CURRENT BUSINESS
10
war years 1929-40 there was a consistent
tendency for the number of firms in
operation to rise or fall by roughly 100,000 for every rise or fall of 10 billion
dollars in the "real" gross national product, excluding government and agriculture. While this relationship held
closely in the thirties there is, of course,
no assurance that it will be maintained
in the postwar years, for its determination was based on a relatively brief segment of experience dominated largely by
one major cycle. Nevertheless, it provides a useful standard for comparison.
Prewar Relationship Broken
During the prewar period 1929-40, the
number of firms in operation from year
to year were on the average within substantially less than one percent of estimates derived from the regression
equation relating the business population and the level of business activity.
The largest "error" in the entire span—
that for the year 1936—was less than 2
percent or about 55,000 firms. During
the war years this prewar relationship
was abruptly discontinued. While production rose vigorously, the business
population declined as shown in chart 1.
The reasons for this sharp break in established relations, which developed in
1941 as the Defense Program got under
way and was greatly intensified during
the war years, have already been suggested. Underlying characteristics of
the economy such as its functional pattern, which in peace change only gradually, were swiftly and profoundly altered
during the war. The least essential segments of the economy from the military
point of view were reduced or eliminated
entirely through the drafting of men
into the armed services, the control of
material supplies, or through explicit
mandate. From the standpoint of the
business population it is significant that
the segments most seriously affected
were those in which small business units
were particularly prominent: retailing,
services, construction, and textile manufacturing, for example, as shown in
charts 3 and 4. Indeed, one of the most
pronounced characteristics of this period was the transfer of numerous enterpreneurs from small retail, service
or manufacturing establishments—often
one-man shops—into the more lucrative
employment available in shipyards, steel
mills, and other war industries.
The character of these changes with
respect to particular industries is discussed in greater detail in a subsequent
section, but it is important to note here
that their net effect was to increase
greatly the average production of goods
and services per firm in the economy as
a whole far beyond any peacetime level.
Also operating in this direction during
the war was the concomitant tendency
in heavy goods manufacturing for war
orders and employment to concentrate
in the largest firms—those with equipment for and experience in mass production on the greatest scale.2 From the
regression equation it is found that,
2
See "Economic Concentration in World
War II," Senate Committee Print Number 6,
79th Cong., 2d sess., 1946.
Chart 1.—Number of Firms in Operation l
MILLIONS OF FIRMS
3.8
3.4 -
1929 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46
* Data are averages of end of quarter estimates through 1945, and are preliminary estimates as of end of quarter in
1946.
Source of data: U. S. Department of Commerce.
January 1947
given the level of business activity which
actually held in 1943, the number of
firms in operation was at least 700,000
less than might have been expected in
that year from the relation prevailing in
1929-40.
Return to "Normal"
The elimination of these wartime factors made a sharp rise in the business
population inevitable. As noted previously, this advance has also been enhanced by the general economic buoyancy prevailing since VJ-day. If the extension of the 1929-40 relationship is
assumed through 1946, however, the conclusion is suggested that the magnitude
of this rise was no greater than might
have been expected on the basis of current business conditions. Thus, the
number of firms consistent with a fully
adjusted peacetime (prewar) pattern, at
the 1946 level of output, would be approximately 150,000 greater than the
number actually in operation in June of
that year, or about one-fifth of the 700,000 deficit determined for the year 1943.8
By the end of 1946, there is no doubt
that this deficit had been further narrowed, or perhaps eliminated entirely.
This again assumes that the relationship
developed over the period 1929-40 would
be resumed in 1946—an hypothesis which
must be tested in the light of additional
experience.
It is notable in this connection that
several salient aspects of the current rise
in the business population are without
precedent in the thirties. In the 12
months preceding June 1946 the business population rose at the average rate
of 110,000 firms per quarter, substantially
higher than in any other period on record. With the end of the war and
throughout 1945 and 1946 numerous segments of the economy offered obviously
fruitful profit opportunities for new
businesses. Moreover, thousands of individuals formerly in war jobs or in the
armed services were anxious and financially able to start in business or to reopen concerns closed during the war.
As of November 1946 approximately
40,000 business loans had been made to
veterans which were guaranteed or in3
In deriving t h e estimate of the deficit
in June 1946 as well as t h a t in 1943 from
the regression equation given in footnote 1,
it was necessary to make an assumption
about t h e time trend. The two principal
alternatives were to (1) extrapolate t h e
trend through t h e war period, or (2) assume
t h a t from t h e end of 1940 through t h e end
of 1945 t h e trend was horizontal. The latter
assumption was chosen as t h e more realistic
in view of actual developments during the
war. The former assumption would have
raised t h e estimated deficit for 1943 by
about 36,000 firms and t h a t for 1946 by
60,000.
SURVEY OF CURRENT BUSINESS
January 1947
Chart 2.—Number of Firms in Operation, by Major Industries
MILLIONS OF FIRMS
4
SEPT. 30
1941
DEC. 31
1943
JUNE 30
1946 i/
46-843
* Preliminary.
Source of data: U. S. Departmejnt of Commerce.
sured by the Veterans' Administration
under title III of the Servicemen's Readjustment Act of 1946 as amended, while
many other veterans have undoubtedly
started in business without availing
themselves of the provisions of this Act.
At the same time, with prices high and
rising and demand as lively as ever before in recent history, except where
scarcity of merchandise prevailed, the
chances of business failure were minor.
Industry Differences
Most of the many thousands of firms
springing into existence currently and
since VJ-day have been small, as shown
in table 1, and hence serve to increase
the number of firms in relation to the
total level of output. In terms of 192940 conditions, the relationship between
business activity and firms has been
moved progressively closer to its normal
level. Granting that this shift represents improved balance for the business
population as a whole, there is, nevertheless, no necessary implication of improved balance for each of its segments.
The financial position of the newborn
concerns as well as the ability of many
of the new entrepreneurs have been
tested only in the abnormally balmy environment of the past two years. Likewise, there is no reason for believing
that the demand for new firms—in every
specific line such as radio stores, filling
stations, or in the manufacture of toys
or textiles—has been balanced exactly
or even approximately by the supply.
That the supply may have exceeded demand in at least some fields and has
fallen substantially short of demand in
others is an obvious probability and one
which warrants, as an approach to the
problem of balance in various lines of
11
business, an analysis of the current pattern of the business population as well
as of trends in discontinuance rates and
in rates of entry.
Chart 2 pictures the composition of
the business population at the prewar
peak of September 1941, the wartime low
of December 1943, and as of June 1946.
Clearly, all segments of the business
population were subject to change in
these years, but by far the most important changes quantitatively occurred in
retail trade, services and construction.
Of the 560,000 loss in number of firms
between September 1941 and December
1943 about 300,000 occurred in retailing,
about 100,000 in services, and about 100,000 in construction. The number of
firms in manufacturing remained virtually unchanged in these years, while
other industries, including transportation, communication and public utilities,
wholesale trade, mining and quarrying,
and finance, insurance and real estate,
experienced an aggregate loss of somewhat less than 70,000.
In the subsequent rise from December
1943 to June 1946 the same general pattern prevailed, although with certain
significant differences. Of the net increment of 670,000 firms, approximately
300,000 were in retailing, 120,000 in services, and 90,000 in construction. However, the number of firms in manufacturing rose by 60,000, even though this
group had approximately held its own
during the war, and the miscellaneous
group rose by 100,000 firms, nearly half
of which was due to an expansion in
wholesaling.
The Pattern of the Business Population
In charts 3 and 4 attention is focused
on the relative magnitude of these
Chart 3.—Number of Firms in Operation During and After the War as
Percentages of Number at the Prewar Peak, by Major Industries
200
INDUSTRY GROUP
ALL
INDUSTRIES
MANUFACTURING
MINING AND QUARRYING
WHOLESALE TRADE
TRANSPORTATION,
COMMUNICATION, AND OTHER
PUBLIC UTILITIES
SERVICE INDUSTRIES
FINANCE, INSURANCE, AND
REAL ESTATE
RETAIL TRADE
CONTRACT
CONSTRUCTION
1
Basic data for une 30, 1946, are preliminary.
Source of data: U. S. Department of Commerce,
POSTWAR PATTERN
(JUNE 30, 1946) 1/
WARTIME PATTERN
(DEC. 31, 1943)
12
SURVEY OF CURRENT BUSINESS
changes, with the wartime and the postwar patterns of the business population
pictured in some detail in relation to the
pattern prevailing at the prewar peak
September 1941. Thus chart 3 shows
that the aggregate number of firms in
all industries in December 1943 had declined to about 83 percent of its 1941
level. Reversing the trend, as of June
1946 the aggregate number of firms in
all industries had increased to about 103
percent of its 1941 level. It is evident
from the shaded bars of this chart that
the largest relative wartime decline occurred in the number of firms in contract construction, with substantial reductions also for wholesale and retail
trade and services.
Similarly, the black bars of chart 3
show that the number of firms in every
major segment of the economy by the
middle of 1946 had either surpassed the
1941 level or closely approximated it.
Principally lagging was the contract
construction industry, but even here the
number of concerns was 96 percent of
the number in 1941.
One important change in the postwar
position as compared with prewar was
the considerably greater relative importance in the middle of 1946 of manufacturing, and mining and quarrying,
the former group standing 128 percent
and the latter 117 percent above the
1941 levels, compared with 103 percent
for the aggregate of firms in all industries. It is notable that neither segment had declined during the war period.
At the other extreme, contract construction in June 1946 had not fully recovered
the loss in relative importance suffered
during the war, while retailing—when
related to the over-all level of the number of firms—had just about held its
own. Nevertheless, the differences
within the over-all postwar pattern when
compared with 1941 should not be overemphasized. Considering the profound
distortion which occurred during the
war, it is remarkable that most of the
major groups were close to 100 percent
of the 1941 level, with manufacturing,
and to a lesser extent mining, the outstanding exceptions.
Durable Goods Lead
The diverse behavior of the individual
industries within the broad groups of
manufacturing and retailing is illustrated in chart 4. Although diverse in
the extent of their advances, however,
it is notable that the number of firms
in every segment of the economy without exception showed an increase since
December 1943. In manufacturing, by
far the greatest advance since the low
point of the war has been in the durable
goods industries. Each of these segments increased in relative importance
in relation to the prewar position with
the largest advance—to double its 1941
level—occuring for stone, clay and glass,
against a level of about one and one-
January 1947
third for all manufacturing. The only
nondurable goods industry to rise more
than the level of all manufacturing was
textile, leather and products. Indeed,
the number of firms as of June 1946 in
food and kindred products and in rub-
Chart 4.—Number of Firms in Operation During and After the War as
Percentages of Number at the Prewar Peak, by Groups in Manufacturing and Retail Trade
• H
POSTWAR PATTERN (JUNE 30, 1 9 4 6 ) ^
WARTIME PATTERN (DEC. 31, 1943)
INDUSTRY GROUP
50
L
PERCENT
IOO
TOTAL MANUFACTURING-^
STONE, CLAY, AND
GLASS PRODUCTS
MACHINERY AND TRANSPORTATION EQUIPMENT
v///////////////^
NONFERROUS METALS
LUMBER AND PRODUCTS
TEXTILES, LEATHER, AND
PRODUCTS
IRON AND STEEL AND
THEIR PRODUCTS
CHEMICALS AND
ALLIED PRODUCTS
PAPER, PRINTING, AND
PUBLISHING
FOOD AND KINDRED
PRODUCTS
RUBBER PRODUCTS
TOTAL RETAIL TRADE &
AUTOMOTIVE PARTS AND
ACCESSORIES
W77//////////7//////////77//////////////////A
V/////////////////////////////////////////////M
LIQUOR
Y///////////////////////////////////////////7Z/7M7A
APPLIANCES AND RADIOS
'//////////////////////////////////////A
HOME FURNISHINGS
HARDWARE AND FARM
IMPLEMENTS
MOTOR VEHICLES
LUMBER AND BUILDING
MATERIALS
DRUGS
APPAREL
EATING AND DRINKING
PLACES
GENERAL MERCHANDISE
FILLING STATIONS
7//7//////////////////////7777777/////////A
GROCERY, WITH AND
WITHOUT MEATS
SHOES
MEAT AND SEAFOOD
GENERAL STORES
WITH FOOD
1
Basic data for June 30, 1946, are preliminary.
Totals include some minor industries not shown separately in chart.
Source of data: TJ. S. Department of Commerce.
2
150
200
SURVEY OF CURRENT BUSINESS
January 1947
Table 1.—Percentage Distribution of New and Discontinued Businesses, by Size of
Firm, 1940 to June 1946
1940
1942
1945
1943
JanuaryJune 1946
Industry group and size of firm
New businesses
All industries
Less than 4 employees.
4-7 employees
8-19 employees
20-49 employees
50 or more employees..
Manufacturing
Less than 4 employees.
4-7 employees
8-19 employees
20-49 employees
50 or more employees..
Retail trade
Less than 4 employees.
4-7 employees
8-19 employees
20-49 employees
50 or more employees.-
100.0
100.0
100.0
100.0
100.0
100.0
100.0
89.1
6.8
2.4
1.2
.5
89.7
92.8
86.1
88.9
87.1
6.2
2.3
1.3
.5
4.2
1.8
.8
.4
8.5
3.4
1.4
.6
6.9
2.8
1.0
.4
8.5
3.1
1.0
.3
85.9
9.5
3.5
100.0
100.0
100.0
100.0
100.0
100.0
100. 0
73.9
13.6
7.0
4.0
1.5
69.5
16.1
7.7
4.8
1.9
77.0
12.0
68.4
16.6
59.9
22.0
11.8
. 1.0
8.0
5.4
1.6
57.7
22.6
12.3
5.3
2.1
4.5
1.8
58.9
23.5
12.2
4.0
1.4
100.0
100.0
100.0
100.0
100.0
100.0
100.0
89.1
8.2
2.3
.4
92.1
97.5
87.9
94.1
92.7
5.9
1.7
1.8
.6
.1
9.2
2.6
.3
4.2
1.3
.3
.1
5.3
1.6
.3
.1
91.9
5.8
1.9
.3
.1
0)
0)
.3
6.2
3.8
0)
0)
Discontinued businesses
100.0
100.0
100.0
100.0
100.0
100.0
100.0
96.2
1.9
1.3
.4
.2
96.1
1.8
1.3
.6
.2
96.4
2.0
1.1
.3
.2
92.7
3.8
2.3
.7
.5
83.9
8.7
4.9
1.7
.8
82.9
9.0
5.3
2.0
.8
82.7
9.4
5.2
1.8
.9
100.0
100.0
100.0
100.0
100.0
100.0
100.0
Less than 4 employees
4-7 employees
8-19 employees
20-49 employees
50 or more employees..
Eetail trade
95.4
1.7
1.7
.4
94.9
1.7
1.7
.9
.8
94.9
2.0
1.7
.7
.7
90.2
3.7
3.7
1.8
.6
62.4
15.2
12.8
5.6
4.0
62.5
13.9
12.6
7.4
3.6
62.6
14.8
11.5
6.4
4.7
100.0
100.0
100.0
100.0
100.0
100.0
100. 0
Less than 4 employees.
4-7 em ployees
8-19 employees
20-49 em ployees
50 or more employees~
96.1
2.1
1.2
.3
.3
95.8
1.8
1.4
.8
.2
96.8
1.8
1.0
.3
.1
94.6
3.3
1.7
.3
.1
85.5
8.9
4.3
1.1
.2
83.2
10.2
5.1
1.1
.4
83.1
10.5
5.0
1.1
.3
All industries
Less than 4 employees.
4-7 employees
8-19 employees
20-49 employees
50 or more employeesManufacturing
i Less than 0.05.
Source: U. S. Department of Commerce.
ber, although greater than at the wartime low, was still slightly less than at
the prewar peak of 1941.
In the retail field also the lead in the
expansion in number of firms was taken
by the durable goods lines. Automotive
parts and accessories, appliances and radios, home furnishings, motor vehicles,
and lumber and building materials all
increased in relative importance in relation to the 1941 pattern. Among the
nondurable goods lines, only liquor
showed a substantial relative advance,
while a decline in relative importance
occurred for general merchandise, filling stations, groceries, shoes, meat and
seafood, and general stores with food.
Turning to the shaded bars of the retail panel of chart 4, it is evident that
some of the groups which, as of June
1946, had reached the highest levels in
relation to 1941 were those which had
previously declined the most during the
war, notably appliances and radios and
motor vehicles. This was by no means
generally true, however. Liquor, home
furnishings, and hardware and farm
equipment had all declined appreciably
less than the average of all retail firms
during the war, and yet stood high
among the leaders in the subsequent expansion.
Thus, when attention is focused on the
major industry groups (chart 3), it is
clear that the broad outlines of the prewar pattern of the distribution of firms,
with some differences already noted, had
by June 1946 been generally reestablished. Within the major group of
manufacturing, however—and, to a
lesser extent, of retailing—there has
been a considerable departure from the
prewar distribution of firms among the
various lines of business. These departures, of course, reflect current differences in the actual or anticipated levels
of business activity in these fields. The
stability of the new June 1946 pattern,
therefore, will depend on the extent to
which these anticipations are realized.
New and Discontinued Businesses
Changes in the number of firms result
from differences between the rates of
13
entry of new businesses and the rates of
discontinuances. Changes in both birth
and death rates, in turn, are conditoned
primarily, as already indicated, by actual
or anticipated levels of business activity.
It should be noted, however, that discontinuances include closures of all kinds
and not simply business failures, although business failures in the broad
economic sense ordinarily constitute the
most volatile element in the grand total
of discontinuances.4
Turn-over by Size
The fact that the great bulk of discontinued businesses as well as new businesses at any time are small firms is
shown by the data presented in table 1.
In every period covered by the table, at
least 83 percent of all discontinuances
and of all entries involve concerns with 3
or less employees. Even in manufacturing, where the typical size of firm is substantially larger than in all other major
segments of the economy, at least 58
percent of all new and discontinued
businesses had fewer than 3 employees
and 76 percent had fewer than 8. Thus
the overwhelming majority of concerns
which dropped out during the war, as
well as of those which have come in since
1943, have been small businesses.
Taken alone, however, thesefiguresdo
not suggest that the smaller firms are
less stable than larger concerns; evidence of another type is required to establish this proposition.5 The data of
table 1, however, primarily reflect the
fact that the great majority of all firms
in operation at any time are small concerns. The distribution of firms by
size in discontinuances and in new businesses mirrors in substantial part the
distribution in the business population as
a whole.
It may be noted from table 1 that the
proportion of large firms among discontinuances, although still minor, was substantially greater in the years 1944-46
4
Business failures in the broad economic
sense refer to closures attributable to the
necessity for avoiding losses or to the inability to make a profit. On the other hand,
"commercial failures," as narrowly defined,,
usually refer only to closures which result
in a known loss to creditors. Preliminary
information derived from a Department of
Commerce survey still in progress suggests
that in early 1946 approximately one-half of
all discontinuances were business failures in
the broad economic sense, with other discontinuances resulting primarily from voluntary retirements, death, illness, or the desire
to open another business or accept a job
elsewhere. Of course, this percentage may
be expected to change with business conditions and was probably close to a minimum
during the first 6 months of 1946.
5
See, for example, "Recent Trends in the
Business Population," SURVEY OP CURRENT?
BUSINESS, May 1946, table 5.
SURVEY OF CURRENT BUSINESS
14
than in the previous 4 years. This shift,
however, must be interpreted in the light
of the trend in progress during this
period. The absolute level of discontinuances in the years 1944-46 was exceedingly low, since the wartime contraction in the business population, affecting primarily small business sectors, had
by the end of 1943 been fully completed.
Chart 5.—New and Discontinued
Businesses *
THOUSANDS OF FIRMS
800
Trends Since 1940
The wide range of the fluctuations in
both the level of discontinued businesses
and of new businesses since 1940 is illustrated in chart 5. The sharp bulge in
discontinuances during the war period,
of course, was occasioned primarily by
special wartime factors mentioned previously, rather than by an increase in
business failures. The spread between
the high level of discontinuances and
the low level of the number of new businesses from 1941 through 1943 indicates
the magnitude of the decline in the business population during those years.
Similarly, the magnitude of the subsequent rise is shown by the increasing gap
Table 2.—Industries Ranked by Rates of
EntryRank in—
Industry
1944
Major industry groups:
Contract construction__
_..
Wholesale trade
Manufacturing
Service industries ___
Retail trade
Mining and quarrying
Transportation, communication
and other public utilities
Finance, insurance, and real estate
Manufacturing industries:
Stone, clay and glass products
Nonferrous metals
Lumber and timber basic products,
Automobiles and equipment
Electrical machinery
Leather and leather products
Apparel and other finished textile
products
Textile mill products
Machinery, except electrical
Furniture and finished lumber
products
Iron and steel and their products.
Paper and allied products
Chemicals and allied products
Rubber products
Food and kindred products
Printing and publishing
Products of petroleum and coal...
Retail trade:
Motor vehicles
Appliances and radios
Home furnishings
Lumber and building materials...
Automotive parts and accessories _
Hardware and farm implements. _
Eating and drinking places
Food (except groceries and meats) _
Liquor
Filling stations
Grocery, with and without meats.
Meat and seafood
Drugs
Apparel
General stores with food
_
General merchandise
—
Shoes
January1945 June
1946
10
11
12
13
14
15
16
17
1
2
3
4
5
10
11
12
13
14
15
16
17
Source: U. S. Department of Commerce, based on
data shown in table 4.
1940
-•
1941
1942
ANNUAL TOTALS
1944
1945
1946
QUARTERLY TOTALS,
AT ANNUAL RATE *"
i Data for 2d quarter 1946 are preliminary*
Source of data: U. S. Department of Commerce.
between the two series after 1944, when
new businesses resumed their position
above discontinuances.
Between the end of December 1943 and
the end of June 1945 the number of new
businesses amounted to 451,000, while
discontinuances were only 221,000. After
VE-day the pace of the advance increased greatly. Between the end of
June 1945 and the end of June 1946 there
were 599,000 new businesses against
161,000 business deaths. Although from
the first to the second quarter of 1946
there was a moderate decline in new
businesses from an annual rate of 750,000
to 712,000, while discontinuances increased very slightly, the gap between
the two series remained very large.
The persistently low level of discontinuances through the first half of 1946
is especially remarkable in the light of
the long, steep climb in the number of
new entries. For first year mortality
rates for business firms are typically
high, and the tremendous influx of new
concerns might ordinarily be expected
to boost the number of discontinuances.
This situation remains paradoxical,
however, only if the unusually favorable
conditions prevailing for new businesses
since the end of the war are forgotten.
There was, of course, a moderate and
uneven tendency for business deaths to
rise from the last quarter of 1944 on, and
it is to be expected that this tendency
was magnified in the latter half of 1946.
Rates of Entry and Discontinuance
The considerable variation which exists in rates of entry and in discontinuance rates among the various lines of
business as well as over time is demon-
January 1947
strated by the data given in the summary table 4. That fluctuations over
time have been sharp has already been
amply stressed above. In table 4, however, the volume of new and discontinued businesses during any period is
expressed in relation to the number of
firms currently in operation. Thus,
these data show that for all industries in
1943 a total of only 47 firms was started
for every 1,000 in operation at the beginning of that year, the lowest rate in
the entire 1940-46 period for which
records are available. By the first half
of 1946, however, the rate of entry had
increased more than fourfold, reaching
a level of 227 per 1,000, well above the
prewar 1941 high. On the other hand,
the discontinuance rate for all industries
reached a high in 1942 of 181 per 1,000,
declined to a low of 51 per 1,000 in 1944,
and advanced moderately to 53 per 1,000
in the first half of 1946.
The variations among industries which
underlie these over-all trends, however,
are of considerable significance. Tables
2 and 3 have been constructed to serve
Table 3.—Industries Ranked by Rates of
Discontinuance
Rank in—
Industry
1944
Major industry groups:
Mining and quarrying
Contract construction
Wholesale trade
ManufacturingService industries
Finance, insurance and real estateTransportation, communication,
and other public utilities
Retail trade
Manufacturing industries:
Lumber and timber basic products
Machinery, except electrical
Electrical machinery
Apparel and other finished textile
products
Iron and steel and their products.
Furniture and finished lumber
products
Chemicals and allied products-__
Nonferrous metals
Leather and leather products
Textile mill products
Automobiles and equipment
Paper and allied products
Stone, clay and glass products
Rubber products
Food and kindred products
Printing and publishing
Products of petroleum and coal...
Retail trade:
Appliances and radios
Eating and drinking places
General stores with food
Food (except groceries and meats)..
Meat and seafood
Apparel
Liquor
Home furnishings
Shoes
Motor vehicles
Filling stations
__.
General merchandise
Drugs
Grocery, with and without meats.
Lumber and building materials __
Hardware and farm implements..
Automotive parts and accessories.
Jan1945 uaryJune
1946
1
2
5
1
2
5
1
2
3
4
13
3
8
4
5
8
9
10
3
11
14
6
7
17
16
15
12
9
10
6
4
7
14
13
12
15
16
17
11
6
7
8
9
10
11
12
13
14
15
16
17
4
1
2
3
11
5
9
10
8
6
7
16
17
14
15
13
12
5
1
2
3
6
8
7
9
12
4
10
14
15
13
16
17
11
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
Source: U. S. Department of Commerce, based on data
in table 4.
SUEVEY OF CURRENT BUSINESS
January 1947
In the adjoining columns of these tables
ranks in 1944 and 1945 are similarly indicated for comparison. Thus the upper
section of table 2 shows that of all major
industrial groups in the first half of
1946 the highest rate of entry prevailed
as guides in the analysis of these differences. In table 2 industries have been
ranked according to the size of their respective rates of entry in the first half
of 1946, and in table 3 according to their
rates of discontinuance in that period.
15
for contract construction. Moving left
across the top of this table, the other
columns show that in 1945 the contract
construction industry also ranked first
but that in 1944 it ranked second. From
basic data presented in the summary
Table 4.—Entry Rates and Discontinuance Rates, by Industries, 1940 to June 1946: Number of New or Discontinued Businesses at
yearly rate per 1,000 Firms in Operation at the Beginning of Period
Discontinuance rates
Entry rates
1940
All industries
Mining and quarrying
Contract construction
Manufacturing
_ _._ _
Food and kindred products
Textiles, leather and products..
Leather and leather products
Textile mill products
Apparel and other finished
textile products
Lumber and products
Lumber and timber basic
products
Furniture and finished lumber products
Paper products, printing and
publishing
Paper and allied products
Printing and publishing
Chemicals and allied products
Rubber products
Stone, clay and glass products
Iron and steel and their
products
Nonferrous metals
Machinery and transportation
equipment
Automobiles and equipment
Other transportation equipment
Machinery, except electrical
Electrical machinery
Miscellaneous manufactures
Products of petroleum and
coal
Other
Transportation, communication,
and other public utilities
Wholesale trade
Retail trade
General merchandise group
General merchandise
General stores with food
Food and liquor
Grocery, with and without
meats Meat and seafood
Other food
Liquor
Automotive
Motor vehicles
Parts and accessories
Apparel and accessories
Apparel
Shoes
Eating and drinking places
Filling stations,- .__
___
Other retail trade. _ __
Home furnishings
Appliances and radios
Drugs
Hardware and farm implements
Lumber and building materials
Miscellaneous retail
Finance, insurance and real estateService industries
Hotels and other lodging places.
Personal services . _._
Laundry, cleaning, and garment-repair
Barber and beauty shops
Other personal services
Business services and miscellaneous repair
Automobile repair
Amusements___ _._ _ .
IVtotion pictures
Other amusements
1
1941
1942
1943
1944
19461
JulyJan.- July- Jan.Tota Jan.June Dec. Tota June Dec. June
1940
1941
1942
1943
1945
19461
- JulyJan.- July- Jan.Total Jan.
June Dec. Tota June Dec. June
108
135
100
47
96
86
104
139
120
152
227
109
124
181
123
51
55
45
51
52
49
53
286
260
127
307
324
143
226
231
129
98
102
83
113
147
107
24
198
219
105
113
137
102
24
196
226
107
115
153
109
25
188
196
101
143
315
165
40
275
346
185
147
244
151
36
241
317
153
138
359
171
44
288
337
204
188
553
269
81
389
414
319
249
194
110
226
232
109
147
390
130
98
377
72
124
93
55
23
71
78
44
142
93
56
25
60
50
43
107
91
53
22
77
97
45
122
94
68
24
78
86
67
135
98
67
24
87
96
34
108
84
67
23
64
67
30
108
89
71
29
83
65
63
218
188
213
197
207
174
285
244
248
232
299
246
399
421
77
124
65
128
82
115
88
145
98
152
71
132
90
131
232
249
206
269
265
263
479
159
164
158
181
192
163
156
93
84
100
189
159
208
295
47
51
43
65
63
63
76
29
53
28
92
78
67
27
47
26
80
65
58
32
59
30
102
89
75
49
113
45
139
93
217
43
95
40
137
87
157
54
126
50
135
94
262
87
177
81
177
162
766
27
59
25
46
18
49
32
65
30
43
26
57
21
53
19
49
11
41
24
39
23
56
31
49
23
31
23
61
20
47
24
46
22
50
42
47
28
60
26
74
42
58
91
132
85
114
95
143
173
381
160
292
177
423
260
495
38
45
37
33
37
55
65
71
54
66
73
69
80
67
223
53
202
45
231
61
295
142
316
93
247
184
352
460
85
29
84
32
82
27
134
35
100
18
151
50
129
63
146
257
193
125
153
233
162
95
140
262
214
150
340
294
359
194
279
341
321
173
393
222
348
212
631
297
457
232
177
84
76
28
182
80
79
27
174
81
70
28
269
142
78
54
229
105
49
49
302
159
93
55
302
129
93
59
36
132
47
100
24
155
48
200
71
178
24
210
72
237
39
22
42
22
36
28
52
54
51
49
53
55
9
61
78
165
84
42
34
51
62
77
156
68
41
30
54
48
77
167
98
43
38
48
76
94
211
126
48
38
59
100
90
195
101
45
35
58
73
96
214
146
50
42
60
123
149
306
207
78
69
89
171
39
66
40
39
23
58
32
44
71
45
45
26
66
37
33
58
35
34
19
51
26
38
68
40
39
24
57
30
39
69
39
38
24
55
29
36
63
39
39
24
58
30
44
72
42
45
31
74
32
55
54
69
160
126
118
145
68
73
43
125
79
88
112
212
38
37
53
63
135
108
109
106
51
54
33
98
71
75
70
156
32
73
54
76
176
140
123
178
86
92
54
150
86
99
152
256
44
94
68
117
158
237
229
255
H68
71
53
190
136
116
156
357
70
26
30
51
33
36
39
27
40
40
35
73
36
29
32
40
22
30
33
64
32
39
41
33
50
50
49
76
41
33
35
50
24
22
26
37
32
32
37
21
29
31
22
70
30
25
29
29
21
25
38
41
38
36
40
26
35
36
25
77
30
29
31
39
23
24
42
40
34
37
43
24
36
38
24
78
29
28
33
33
22
26
34
42
40
32
35
25
32
34
26
73
31
29
29
40
23
27
42
43
40
29
32
22
40
41
33
75
32
35
37
77
28
85
43
126
143
129
149
239
26
36
17
21
20
21
22
78
93
91
102
196
69
10086
91
95
218
63
54
98
89
109
174
75
146
94
91
134
173
91
53
77
98
124
166
84
235
109
83
140
184
96
350
230
113
218
292
170
26
31
57
57
206
35
27
35
60
62
223
39
23
27
53
50
189
30
22
33
57
56
203
35
23
32
63
57
223
34
22
34
49
54
189
35
25
38
52
59
186
39
52
88
45
51
82
34
53
93
57
64
97
111
61
99
77
67
92
142
109
165
253
33
38
27
38
43
32
28
33
23
31
39
31
31
36
32
30
40
31
38
40
36
182
133
135
43
180
172
101
140
39
189
184
163
130
45
172
229
209
166
55
220
217
172
162
49
217
224
233
167
60
219
311
291
256
85
310
71
68
131
31
180
77
70
141
31
195
63
64
121
31
163
68
74
121
25
160
70
72
131
24
175
62
73
109
26
151
62
94
116
28
159
142
119
68
61
181
122
74
77
177
57
45
67
72
60
24
20
63
58
67
26
110
90
10
36
52
67
47
16
76
79
58
93
89
70
25
25
45
23
44
12
88
143
666
88
148
237
196
101
220
739
188
196
318
100
Preliminary.
Source: U. S. Department of Commerce.
1945
1944
Industry
67
173
662
127
167
245
227
56
50
247
40
65
34
28
109
76
82
55
63
169
119
188
195
259
187 f252
211
273
62
73
1
67
73
72
34
172
200
93
173
136
91
143
161
290
376
53
85
159
119
219
210
404
457
295
107
115
61
236
200
248
359
452
119
164
119
67
82
160
122
73
80
226
157
144
114
106
179
105
96
67
75
143
129
78
69
163
91
47
56
113
75
60
80
65
53
122
59
143
195
124
85
123
89
109
161
612
120
154
254
152
116
210
748
164
195
332
142
104
239
679
185
250
389
195
63
122
293
90
148
190
154
SUEVEY OF CURKENT BUSINESS
16
Chart 6.—New Businesses and
Business Incorporations
INDEX, 1945= 100
260
t'
\
1
1
220 _
BUSINESS
INCORPORATIONS U
a
i
\
\
180
/ /^
1 /
1 /
/ /
//
IK
BUSI
140
-
NEW
NESSES
100
/}
/
60
i
U
Y
S
1
1944
i
i
i
1945
i
1
I
1946
-QUARTERLY TOTALS -
i Data are adjusted for seasonal variation. Charitable
and other nonprofit organizations are excluded.
Source of data: U. S. Department of Commerce.
Data are preliminary for 2d quarter 1946 for new businesses, and for 3d and 4th quarter 1946 for incorporations.
table it is found that in the first half
of 1946 the rate of entry for contract
construction was 553 per 1,000. This
may be contrasted with the rate of the
last ranking major industry, finance, insurance, and real estate, which in January-June 1946 was 113 per 1,000.
Perhaps the most significant changes in
the rate of entry rank between 1944 and
the first half of 1946 occurred for retail
trade and mining and quarrying. The
former industry ranked seventh in 1944,
sixth in 1945, and fifth in early 1946,
with a rate in the latter period of 207
per thousand. On the other hand, mining and quarrying ranked third in 1944,
fourth in 1945, and sixth in early 1946,
when its rate was 188 per 1,000. It is
notable that contract construction,
wholesale trade, and manufacturing
ranked in that order in both 1945 and
the first half of 1946. Industries which
gained in 1946 in relation to their 1944
ranks include contract construction,
manufacturing, service industries, retail
trade and transportation, communication, and public utilities.
Reference to the corresponding section
of table 3 reveals striking similarities
as well as some significant differences
when discontinuance rates are employed
as the basis for rank in place of rates of
entry. Thus, contract construction,
wholesale trade, manufacturing, and
service industries, which ranked first
second, third, and fourth, respectively, in
the first half of 1946 in the rate of entry
table, ranked second, third, fourth, and
fifth, respectively, in the rate of discontinuance table in the same period. The
principal reason for this similarity—the
relation between the volume of new businesses and of discontinuances—has already been mentioned. An industry in
which the rate of entry has been high is
almost always one in which the rate of
discontinuance is also high because of
the heavy mortality regularly typical of
new firms.
Death Rate Low for Retailing
Two important exceptions to the similarity in rank of major industries in tables 2 and 3 should be noted, however,
particularly since they illustrate contrasting repercussions of wartime conditions. Thus, retail trade, which is
ordinarily notable for its high rate of
turnover, ranked fifth in rate of entry in
the first half of 1946 but last in rate of
discontinuance. Previous discussions
throw some light on this situation.
Thus, in chart 4 it was shown that retail trade suffered a huge loss of firms—
more than most other industries—during
the war. The financial position of the
great majority of firms which did remain
in business, however, was unquestionably
strengthened in the light of a sustained
high volume of trade shared by fewer
participants. Moreover, following the
wartime low of 1943 recovery in the
number of retail firms was considerably
less than that for most other principal
segments. Indeed, despite a larger population, greater employment, and a substantially larger dollar volume of trade,
it has been pointed out that the number
of retail concerns was still somewhat
lower in June 1946 than in September
1941. Under these circumstances, a
lower discontinuance rate for retail trade
generally is to be expected, although
within that broad range of the economy
there are of course significant differences.
Mining and quarrying, sixth in rate of
entry in the first half of 1946 but first in
rate of discontinuance in each of the
periods covered, presents a different situation. In contrast to retail trade it has
been shown (in chart 4 above) that mining and quarrying expanded during the
war. Moreover, this expansion has been
sustained since the war's end, although
its rate has been declining. Hence, in
June 1946 the number of firms in this
industry was 17 percent greater than in
September 1941. Even in 1944, table 2
shows, mining and quarying ranked third
in rate of entry, while in 1940 it was first
and in 1941 and 1942 it ranked second to
January 1947
contract construction. These figures
suggest that the high discontinuance
rate for mining and quarrying results
primarily from the usual high mortality
rate associated with an influx of new
concerns, plus the shift in mineral requirements after VJ-day.6
The lower sections of tables 1 and 2
show the rank in rates of entry and in
discontinuance rates for manufacturing
industries and retailing subgroups separately. When these detailed industries
are considered, however, the relationship
between rates of entry and rates of discontinuance is not so readily apparent,
for sharp changes in rank occurred over
the period covered by both tables, while
a full analysis of the changes shown
would require specific industry studies.
Some highlights of these sections of
tables 2 and 3 may nevertheless be noted.
Thus, it is significant that many of
the industries with sustained high or
rising ranks in rates of entry have had
sustained high or rising ranks in rates of
discontinuance. In retail trade, thousands of entrepreneurs, including many
veterans, have for some time been entering the appliances and radio field, attracted by the promise of huge deferred
demands. This line ranked first in rate
6
In bituminous coal, for example, numerous high-cost, low-quality mines were abandoned as the war drew to a close and in the
succeeding periods. For a discussion of
changes in the bituminous coal industry
after the war see R. L. Trisko, "Bituminous
Coal During the First Year of Peace," Domestic Commerce, December 1946.
Chart 7.—Commercial Failures,
Corporate Dissolutions, and Discontinued Businesses
INDEX, 1945 = 100
140 I
120
100
DISCONTINUED
BUSINESS
J
60
1944
L
1945
- QUARTERLY TOTALS
i Data are adjusted for seasonal variation. Charitable
and other nonprofit organizations are excluded.
Sources: U. S. Department of Commerce, except
basic data for commercial failures, which are from Dun
& Bradstreet, Inc. Data are preliminary for 3d and 4th
quarter 1946 for dissolutions, and for 2d quarter 1946 for
discontinued businesses.
January 1947
SUEVEY OF CURRENT BUSINESS
17
Table 5.—Number of New and Discontinued Businesses, by Industries, 1940 to June 1946
[In thousands]
New businesses
1944
Industry
1940
All industries
Discontinued businesses
_ _.
Mining and quarrying
Metal and coal mining
_ _
Petroleum
Nonmetallic mining and quarrying
1941
1942
1943
Jan.- July- Total Jan.- July- Jan.Total June
Dec.
June Dec. June
1940
1941
1942
1943
78.0
1.9
1.1
.5
61
68
55
25
2 9
1 5
15
1.4
.7
6
.7
7
13
37
1. 7
16
19
18
25
.8
9
.9
7
1.1
9
1
w.
m ' 1945
1946-
Jan.- July- Total Jan.- July- Jan.Total June
Dec.
June Dec. June
357.3 447.6 334.7 143.4 272.8 122.3 150.5 411.8 178.3 233.4 365.6 360.5 410.8 604.4 379.1 143.5
5.3
5.0
3.6
2.5
3.2
1.9
.9
65.5 152.5
1.4
.8
.4
3.1
1.7
.9
77.6
74.9
85.9
1.7
1.0
.5
1.4
.8
.4
1.4
.8
.5
3
2
1
4
1
2
5
.4
.2
#
2
.5
.3
.2
.1
21.6
10.1
11.5
48.8
18.9
29.9
52.3
40.1
51.4
94.0
76.6
13.6
6.8
6.8
14.6
7.6
7.0
8.2
18.7 24.3 11.6
13 1 3
6
1.3
2.5
5.1
2
6
3
12.7
6
2.6
3
39.4
21
8.0
1 i
21.4 35.3
11 21
4.5
6.8
6
9
23.7
23.7
29.4
16.3
2
5
2
2
9
18.1
9
3.5
5
4
12.5
1.2
1.8
2
.2
6.3
.7
.8
1
.1
6.2
.6
1.1
2
.1
16.4
1.2
2.3
3
.2
8.1
.6
1.3
2
.1
8.3
.6
1.0
.1
.1
9.3
1.48
.1
2.
1.0
8.2
4.0
2.0
6.0
7 8
41
2.0
37
10 7
2.6
1.8
6.4
1.0
3.4
.8
3.0
1.1
3.2
2.9
2.6
2.6
.4
.5
.6
.5
.6
.1
.5
.3
53.9
71.6
55.8
20.7
27.2
Manufacturing
Food and kindred products
Textiles, leather and products _
Leather and leather products.
Textile mill products
Apparel and other finished
textile products
Lumber and products
Lumber and timber basic
products
Furniture andfinishedlumber
products
Paper products, printing and
publishing
Paper and allied products
Printing and publishing
Chemicals and allied products
Rubber products
Stone clav and glass products
Iron and steel and their products
Nonfcrrous metals
Machinery and transportation
equipment
Automobiles and equipment
Other transp equipment
Machinery, except electrical..
Electrical machinery
Miscellaneous manufactures
Products of petroleum and
coal
Other
31.1
29.2
Contract construction
1944
19461
1945
51
5
9
3.4
5.0
56
10 2
1.4
5.1
.6
2.6
.8
2.5
6.8
6.6
3.5
3.0
8.2
4.0
4.1
7.9
4.5
2.3
2.2
1.3
1.2
.5
.7
2.6
1.1
1.5
2.2
.6
.3
.3
4.0
1
3.9
2
1.2
1
1.1
6
.7
1
.6
4
2.0
3
1.1
2
1.8
2
10
16
.1
.3
.1
11
.1
35
.7
.1
.6
.2
.4
.1
.4
.2
.1
1.0
.9
.4
.4
.2
.1
.6
1.1
.1
.9
.3
.5
.1
.4
.2
1.1
17
10
.1
17
.9
1
.8
5
.1
.5
.6
1
.5
3
(2)
.4
.2
.2
.4
.2
2
.3
.1
2
.8
8
.4
3
.4
4
16
2 4
.8
9
.9
1.5
14
2.1
.3
.3
.2
.1
.2
.2
.6
.4
.3
.2
.4
.2
4
.3
1.0
3.4
1.5
1.9
3.5
.3
4
2.1
7
2.3
.9
1.5
1 3
3.1
.2
.9
.2
.6
.1
1.5
2
2.4
.1
.2
1.6
5
.7
1.2
2
2.7
.1
.2
2.1
4
6
.1
51
.2
.4
3.7
8
1.3
1
!i
.3
.1
.5
.1
.3
.3
1.8
2
L3
.1
.7
.1
.6
.2
1.1
.1
.7
.2
.9
.1
8
2 6
3.1
.6
3
.3
1.2
.6
.7
Q
.6
2
.1
2
2.8
.4
1.3
2.7
1.0
1.7
4.6
2.1
1.3
2.7
1.0
1.7
4.6
2/0
(2)
1
5
2.6
7
5.5
Transportation, communication
and other public utilities
29.0
36.3
36.2
14.0
14.6
7.3
7.4
18.4
8.8
9.6
15.3
33.6
32.2
46.4
20.6
7.3
4.2
3.1
7.4
3.8
3.6
4.5
Wholesale trade
17.2
17.6
8.2
7.8
18.8
8.9
9.9
26.5
12.2
14.3
21.9
17.2
17.6
22.6
23.2
7.5
4.1
3.5
8.6
4.4
4.2
5.2
107. 3 118.0
4.5
5.6
71.7
4.8
53.1 29.7
1.4
2.4
4
8
9
17
13 0 7 7
23.4
1.0
3
54.4 26.9
1.2
2.4
4
8
8
16
12 7 6.2
27.5
1.2
4
31.5
1.6
5
11
3.4
.6
1.8
38
7
2
.6
Retail trade
General merchandise group
General merchandise
General stores with food
Food and liquor _ _
Grocery, with and without
meats
__
Meat and seafood
Other food
__.
Liquor
Automotive
Motor vehicles
_._
Parts and accessories
Apparel and accessories
Apparel
Shoes
Eating and drinking places
Filling stations
_ _
Other retail trade
Home furnishings
_.
Appliances and radios
Drugs. . ._
Hardware and farm implements.. . . . _ . . . .
Lumber—building materials
Miscellaneous retail _. . . .
32.1
33.5
15.4
1.6
6.2
5.9
5.0
.6
1.7
23
56
3.6
4.4
5.8
4.1
1.3
21.8
18.4
20.3
27.1
20.7
24.4
7.5
5.6
15.7
6.2
8.1
4.0
18
2.9
21
15.1
28.6
5.2
.8
2.8
65.2 172.9 69.6 l\03.3 154.8 106.4 116.8 228.8 150.5
1.3
3.0
2.5
8.2
1.4
1.6
5.8
6.0
6.5
6
1 3
6
7 12
7
9
.8
17
1 3
15.7 42.1 15.4 26.6 38.7 33.9 38.2 71.1 59.2
10.1
26.8
10.8
16.0
.8
3.4
2.1
.8
2.9
1.2
7.8
10
2 4
10.7
1 3 26
3 2 11 5
1.7
7
2.0
7.6
2 0
1 3 40
5.3
5.4
2.0
3.4
18 3 0 48
48
.2
.5
.3
.6
30.4 11.9 18.5 48.8
13.6
7.5 24.3
6.1
27.2 11.5 15.6 37.8
3 1 1.0
22 47
2.1
Finance, insurance, and real estate 25.5
Service industries
Hotels and other lodging places..
Personal services
Laundry, cleaning, and garment repair
Barber and beauty shops
Other personal services
Business services and miscellaneous repair
Business services .
Miscellaneous repair. . . . . .
Automobile repair
Amusements
Motion pictures
. .
Other amusements
29.5
34,9 110.2 45.0
2.6
1.3
1.4
1 l
5
15
.8
12.2 25.4
9.8
.8
.8
.7
1 3
6.9
1.4
10
2 2
16
68
10 7
19
11 8
3.1
4.5
9.0
16 23
2.9
2.5
25 23
.4
.2
22.0 26.8
8.3 16.0
14.9 23.0
2 2 26
4.2
25
1.7
3 4 13 21
53
41
16.2
2 4
7
6.6
71
.9
1.9
10
47
8.1
7
24.2
28
4.4
41
42
92
44
4.0
4.8
9.8
6.1
33.7 17.1
19.8 18.6
44.0 22.7
61
35
3 0
15.4
28.4
20.5
43.1
43.8
43.7
22.7
22.9
28.7
4
.5
31
.4
45
.5
16
12
2 9
.2
9
4
6
2
3.1
2.7
4
17.9
6.1
9.0
9
1.9
1.7
3
9.3
3.5
5.1
5
1.1
1.0
1
8.6
2.6
3.9
4
4
3
6
2
5
10
2 9 4 9
33 55
9.6 21.0
17
.2
7
6
1
7.2
1.2
3 7
.6
17
13
4
.3
9
2.8
1.4
2.5
1.3
3
1
19.8 10.0
2.6
5.5
4.6
9.6
5
10
5
11
2
5
8
65
.5
7.3
42
.7
19
.3
8
2.1
1.3
1.2
2
9.8
2.8
5.0
5
1.7
1.5
2
10.7
3.2
6.3
3
6
7
.4
8
.6
2
Q
9
7
6
4
3
3
8
6
4
3
4
3
5
4
5.1
2.8
2.3
5.7
2.7
2.9
3.5
18.8
15.0
24.2
12.2
12.1
25.2
13.5
11.7
16.2
29.0
17.1
15.2
8.1
7.2
15.7
8.7
6.9
7.5
91.0 137.6 109.4
14.8 17.3 15.4
34.6 71.9 49.5
29.8
5.6
14.8
56.1
3.9
24.0
25.9
2.2
10.9
30.2
1.7
13.1
76.9
3.4
32.7
35.4
1.6
15.1
41.5
1.8
17.6
67.2 102.4 131.3 150.7
2.8 13.6 17.5 15.8
32.1 47.1 62.6 72.3
72.2
6.7
33.1
31.0
4.1
12.0
17.0
2.2
6.8
14.0
1.9
5.2
32.2
4.0
12.6
16.3
2.2
6.1
15.9
1.8
6.5
18.2
1.8
7.4
48
15.9
33
2.3
2 4
32
8.5
13
21
61
18.3
83
29
7.3
9.3
8.9
31
69
2 0
17
39
12
1 3
30
2 9
73
2 4
15
34
12
15
3 9
12
18
41
15
15.1
8.4
6.7
8.2
5.0
5
7.1
4.1
3.0
3.1
2.6
2
7.9
4.3
3.7
5.1
2.4
3
21.0
11.7
9.4
13.7
6.2
7
5.9
3.6
2.3
4.2
4.9
4
3.2
1.9
1.2
2.2
2.6
2
2.7
1.6
1.1
2.0
2.2
6.3
3.7
2.6
4.9
4.5
3
3.0
1.7
1.3
2.5
2.1
2
3.3
1.9
1.4
3.5
2.3
2
4.5
2.4
2.1
5.5
4.5
2.4
2.1
4.2
3.2
2.0
1.3
2.4
2.5
2
1.9
2.1
14.7
3.4
11.4
18.8
8.1
19.4
4.6
14.7
24.7
4.3
16.5
4.1
12.4
18.7
9.3
5.9
2.1
3.8
2.2
1.2
55
53
16 5
10 3
10.0
5.5
4.5
5.6
3.0
3
11.0
6.2
4.8
8.0
3.2
4
16.6
8.9
7.7
10.8
5.0
6
2.7
2.8
4.4
2 9
31.7
15.3
3.6
11.8
20.1
6.3
i Preliminary. 2 Less than 50. Note: Because of rounding, totals do not necessarily equal sum of components.
Source: U. S. Department of Commerce.
726543—47
38
41
7
53
32.8
19.3
4.6
14.6
25.8
6.1
24.8
6.3
18.5
29.8
8.0
13.4
4.0
9.4
12.5
6.5
9
2.3
18
SUEVEY OF CUERENT BUSINESS
of entry in 1944, first in 1945, and second
in the first half of 1946. The rise in the
rate of discontinuance for this line, however, may be interpreted as a danger
signal. In 1944 and 1945 the rank of
appliances and radio with respect to
rate of discontinuance was fourth and
fifth, respectively, but in the first half
of 1946 it assumed first place in the retail field. It should be noted that during the first half of 1946 this line was
still growing sharply, however, for the
rate of entry was 452 per 1,000 while the
rate of discontinuance, though higher
than in any other line, was 77 per 1,000.
Both in manufacturing and retailing
the lead in rate of entry had for the
most part been taken, by the first half
of 1946, by lines which were curtailed
during all or part of the war—industries
primarily associated with consumer
durable goods and construction. In considering these shifts, however, it is important to note that both tables 2 and 3
January 1947
place emphasis upon relative changes
among industries in rates of entry and
rates of discontinuance. As already
noted, the rate of entry for the business
population as a whole in the first half of
1946 was extremely high, and in the case
of every industry, including those which
lost ground relatively, was higher than
in 1944. In the same way it should be
noted that while recent changes in rank
(Continued on p. 23)
Table 6.—Number of Operating Business Finns by Industries, 1939 to June 1946
[In thousands]
1946
1945
Industry
1939 i
1942 1
1940 !
1943 i
1944 1
Mar. 31
June 30
Sept. 30
2, 860. C; 2,923.5
3,012.9
3, 065. 6
1
Dec. 31
Mar. 31 June 30 2
3,316. 7
3, 298. 2
3,134.1
3, 224.1
:, 369.1
Mining and quarrying.
21.4
22.0
23.4
25.9
20. 2
25.7
25.6
25.9
26.0
26.3
26.9
27.3
Contract construction.-
202.1
218.4
243. 8
220.2
158.1
153.1
159.6
166.4
176.4
189. 2
214.1
233.4
Manufacturing
Food and kindred products
Textiles, leather and products
Leather and leather products
Textile mill products
Apparel and other finished textile products
Lumber and products
Lumber and timber basic products
Furniture and finished lumber products
Paper products, printing and publishing-.
Paper and allied products
Printing and publishing
Chemicals and allied products
Rubber products
Stone, clay, and glass products
_.
Iron and steel and their products
Nonferrous metals
Machinery and transportation equipmentAutomobiles and equipment
Other transportation equipment
Machinery, except electrical
Electrical machinery
Miscellaneous manufactures
Products of petroleum and coal
Other
214.
52.
28.
215.5
54.0
26.8
3.2
4.6
IS. 9
33.0
22.8
10.3
40.2
225.8
56. 0
27.1
3.1
4.7
19.1
36.0
24.8
11.2
40.5
2.5
38.0
7. 7
1.4
6.0
8.8
6.2
13.3
224.1 !
54. 6 I
27.0 I
228.6
53. 0
26.1
2.9
4.6
18.6
40.6
?7. 9
12.7
41.1
22. 8
22.0
244.1
52.0
30.2
3.5
4.9
21.8
44.7
30.8
13.9
41.4
2.5
38.9
7.5
1.2
8.0
9.6
6.6
18.3
1.2
1.2
13.4
2.5
24.5
.9
23.6
249.4
52.3
31.4
3.7
5.1
22.6
45.7
31.5
14.2
41.7
2.6
39.1
7.6
1.2
8.3
9.9
7.0
19.2
1.3
1.2
14.0
2.7
25.2
.9
24.3
255. 5
52.6
32.9
3.9
5.3
23.7
47.0
32.3
14.7
41.9
2.6
39.3
7.7
1.2
8.6
1.0.1
7.6
19.5
1.3
1.2
14.2
2.8
26.2
.9
25.3
262.5
52.9
34.8
4.2
5.5
25.1
48.3
33.0
15.3
42.3
2.7
39.6
7.9
1.2
9.2
10.4
8.3
20.1
1.4
1.2
14.5
3.0
27.2
.9
26.3
276. 5
53. 5
37.9
4.6
5.9
27.4 j
51.9
35.7
16.2
42.9
22.8
236. 2
52.0
28.4
3.2
4.7
20.5
43.3
29.9
13.4
41.1
2.5
38.6
7.2
1.1
7.8
9.2
6.2
16.7
1.2
1.2
12.0
2.3
23.2
.9
22.3
40^2
8.2
1.3
10.7
10.9
9.3
21.4
1.5
1.4
15.2
3.3
28.5
.9
27.6
288. 5
54, 3
40.1
4.9
6.2
29.0
55. 3
38.4
16.9
43.5
2.8
40.7
8.3
1.3
12.4
11.3
10.0
22.3
1.6
1.5
15.7
3.5
29.5
.9
28.6
216.9
All industries.
37.7
6.6
1.6
5.5
8.0
5.7
12.2
3,398.0 j 3.155.7
19.2 |
36.7
25. 3
11.5
3S.6
2.6
36.0
7.4
1.3
5.9
9.2
6.1
14. 5
2.3
38.6
7.1
ao
5.9
16.3
20.1
3, 503. 9
Transportation, communication, and other public
utilities
207.7
205.2
209.2
197.2
188.0
193.2
198.0
260.2
202.8
206.1
212.0
Wholesale trade..
144.8
143.3
146.2
134.1
114.8
122.0
129.5
133.2
137.4
143.2
152.9
159.9
., 601. 4
74.5
36.8
37.7
516.7
341.5
39.9
120. 0
15.3
53.5
38.4
15.1
86.1
73.0
13.1
295.4
226.7
348. 6
29.5
15.0
52.2
37.9
31.3
182.7
1, 584. 7
72.4
36.4
36.0
505.4
339.5
38.4
112.3
15.2
54.8
39.0
15.8
85.2
72.5
12.7
291.6
230.9
344. 4
30.6
14.8
50. 9
37.6
31.4
179.1
1, 620. 8
72.8
37.0
35.8
514. 5
346.8
38.7
113.6
15.4
57.7
41.0
16.7
86.1
72.9
13.2
307.8
227. 6
354.3
32.6
14.8
51.6
38.7
32.0
184.6
1, 480. 7
68. 5
35.6
32.9
474.3
321.5
34.3
103.8
14.7
49.5
34.3
15.2
82.0
69.9
12.1
277. 5
197.5
331.4
31.0
12.7
48.5
36.8
29.3
173.1
1, 329. 9
63.5
33.9
29.6
416.9
280.9
29.0
92.8
14.2
44.1
30.5
13.6
78.1
66.4
11.7
247.7
171.1
308. 5
27.9
10.3
47.4
35.0
26.9
161.0
1, 354.4
62.0
33.6
28.4
417.3
280.7
30.0
90.9
15.7
47.2
32.3
14.9
78.7
67.3
11.4
251.3
176.4
321.7
29.3
11.1
47.9
35.7
28.0
169. 7
1,394. 3
62.3
33.9
28. 4
426.0
288.1
30.3
91.1
16.5
50.3
34.1
16.2
80.8
69.1
11.7
261.7
181.0
332.4
31.2
12.5
48.5
37. S
28.1
174.3
1,417.7
62.4
33.9
28.5
431.7
292.2
30.4
92.2
16.9
52.5
35.5
17.0
81.4
11.8
268.2
184.4
337.2
31.9
13.3
48.9
38.8
28.5
175.8
1, 450.1
62.5
34.1
28.4
441. 0
2S7.2
30.6
95.6
17.6
54.9
36.9
18.0
81.8
70.0
11.8
276.3
190.5
343.1
32.3
14.2
49.3
39.7
29.6
178.0
1, 493. 5
62.7
34.2
28.5
451.7
304.4
31.1
98.1
18.1
58.4
39.3
19.1
82.6
70.8
11.8
285.3
197.5
355. 2
34.1
15.5
50.4
41.2
31.5
182.5
1,554.7
63.2
34.6
28.6
467.1
314.5
31.9
101.6
19.1
63.4
43.1
20.3
84.0
72.1
11.9
296.4
206.2
374.2
36.8
17.2
51.9
43.4
33.9
191.0
1, 616. 8
63. 6
34.9
28.7
483.1
324.4
32.3
106.7
19.7
69.4
47.7
21.7
85.4
73.4
12.0
308.3
214.1
392.9
39.5
18.4
52.7
45.7
36.6
200.0
Finance, insurance, and real estate
286.4
283. 0
285.0
273.2
261.2
274.1
278.8
281.3
283.4
286.0
290.9
294.7
Service industries
Hotels and other lodging places
Personal services
Laundry, cleaning, and garment repair...
Barber and beauty shops
Other personal services
Business services and miscellaneous repairAutomobile repair
Amusements
Motion pictures
O ther amusements
i As of Sept. 30.
* Preliminary,
NOTE: Because of rounding, totals do not necessarily
Source: U. S. Department of Commerce.
638.7
27. 5
383.1
86. 7
203.4
93.0
106.4
77.5
44.2
626.1
28.7
378.0
90.3
201.0
86.7
98.8
76.8
44.8
643.8
29.1
391. 5
96.3
213.5
81.7
101.0
77.6
44.6
600.2
26. 6
369. 9
95.0
199.8
75.1
92.5
68.4
42. b
553. 8
23.5
347.8
92.3
182.6
72.9
83.4
61.1
38.1
564.8
19.8
354.7
93.6
186.7
74.4
S9.0
63.8
37.4
12.3
25.1
583.1
19.5
363.3
94.9
192.6
75.8
95. 6
67.2
37.5
12.5
25.0
591.7
19.1
367.3
95.6
194.9
76.8
98.6
68.8
37.9
12.5
26.4
602.6
19.0
372.2
96.3
197.3
78.6
102.0
71.0
38.4
12.6
25.8
617.3
19.0
378.3
97.3
200.0
81.0
106.6
74.3
39.0
12.7
26.3
641.3
19.5
388.9
99.1
205.3
84.5
114.1
78.4
40.4
12.9
27.5
666.3
20.1
403.0
100.8
212.4
89.8
119.9
81.6
41.7
13.1
Retail trade
General merchandise group
General merchandise
General stores with food
Food and liquor
Grocery, with and without meatsMeat and seafood
Other food
Liquor
Automotive
Motor vehicles
Parts and accessories
Apparel and accessories
Apparel
Shoes
Eating and drinking places
Filling stations
Other retail trade
Home furnishings
Appliances and radios
Drugs
Hardware and farm implements.._
Lumber and building materials
Miscellaneous retail
equal sum of components.
69.6
January 1947
SURVEY OF CURRENT BUSINESS
19
Foreign Credits of the United States
Government
By John Shirer
ESIDES PROVIDING foreign counB
tries with 48.1 billion dollars of goods
and services under "straight" lend-lease
and an additional 3.4 billion dollars of
civilian supply and relief articles on a
gift, grant or offset basis, the United
States Government also had extended 3.9
billion dollars in foreign credits drawn
upon or utilized through September 30,
1946. Repayment of principal had reduced credits outstanding on that date
to 2.7 billion dollars. Additional foreign
credit commitments not yet utilized by
the end of September totaled 6.5 billion
dollars. These figures exclude original
World War I credits of 10.4 billion dollars but include all credits extended since
July 1, 1940, except that Export-Import
Bank data cover credits extended since
the Bank's establishment on February
12, 1934.
How Government foreign credits have
arisen, the extent to which commitments
have been made and utilized, the major
countries assisted, the participating Government agencies, and the indicated annual carrying charges are the primary
subjects of inquiry in this article.
Summary
The United States Government
on September 30, 1946, had total
foreign credit undertakings of 9.2
billion dollars, of which 2.7 billion
dollars was actually outstanding
and 6.5 billion dollars represented
commitments not yet drawn upon
by foreign countries. Not more
than 10.4 billion dollars in aggregate Government foreign credits is
indicated on the basis of conditions
existing at the 1946 year end.
Annual carrying charges that
can be computed on some 8 billion
dollars of such credits will first become substantial in 1951, when
they will total 331 million dollars,
and will reach a peak of 366 million
dollars in the following year.
These totals will add considerably
to the fairly large net amounts
normally due the United States
from abroad in connection with
interest, dividend, and amortization payments, mostly on private
account.
Background of Credit Operations
Foreign credit activities on the part of
the Government have fallen mostly in
the postwar period and have dealt
mainly with the procurement, shipment,
or transfer of goods urgently needed for
peacetime economic recovery abroad.
"Property credits" have aided the disposal of overseas surplus property and
have speeded the postwar delivery of
many civilian-type items in the lendlease pipe line. Dollar loans have been
extended to finance additional purchases
in the United States from existing stocks
of goods or out of new production.
Prior to March 11, 1941, when the
Lend-Lease Act was passed, foreign
credit operations of the United States
Government, other than World War I
credits, had been on a relatively small
NOTE: Mr. Shirer is Chief of the Clearing
Office for Foreign Transactions, Office of
Business Economics.
scale. The Export-Import Bank had
been making loans since early 1934 for
the purpose of promoting foreign trade.
Loan disbursements by that agency
totaled 160 million dollars through June
30, 1940, while loans outstanding on the
same date were 99 million dollars. In
July 1941, the Reconstruction Finance
Corporation extended a credit commitment to the United Kingdom of 425
million dollars, marketable securities
and other assets being required as collateral. This credit was drawn upon to
the extent of 390 million dollars by the
end of February 1942.
With lend-lease activities commencing
in the spring of 1941 the need for additional Government credit assistance to
foreign countries abated. Soon thereafter, however, the Government found
it necessary to make substantial cash
advances to many foreign producers in
support of its expanding overseas pro-
curement program. By June 30, 1945,
these advances had amounted to 637
million dollars, of which all but 128
million dollars had been liquidated by
commodity deliveries or cash repayments.
Meanwhile, continued activities of the
Export-Import Bank, whose lending authority had been increased from 200
million dollars to 700 million dollars by
act of Congress on September 26, 1940,
had brought that agency's total loan disbursements to 503 million dollars and
loans outstanding to 214 million dollars
by June 30, 1945. Minor credit extensions by Defense Supplies Corporation,
the U. S. Commercial Company, and the
Coordinator of Inter-American Affairs
had contributed an additional 22 million
dollars in loan disbursements and 21
million dollars in loans outstanding by
June 30, 1945. Thus, nearly 2 months
after VE-day and only 2 months prior
to VJ-day the outstanding foreign
credits of the United States Government,
including also the RFC loan to the
United Kingdom and advances, were no
larger than 639 million dollars and undisbursed credit commitments no greater
than 374 million dollars. Lend-lease
credit commitments entered into early
in 1945 and referred to below are excluded from these figures.
The anticipated cessation of lendlease as a wartime supply measure had
led to the signing of agreements with
several foreign governments in 1945 under section 3 (c) of the Lend-Lease Act
providing substantially that lend-lease
articles needed for peacetime pursuits
could be shipped on credit terms after
the end of hostilities. Agreements were
concluded with France on February 28,
1945, with Belgium on April 17, 1945, and
with the Netherlands on April 30, 1945.
A similar type of agreement was reached
with the U. S. S. R. on October 15, 1945.
An informal understanding with the
United Kingdom regarding the continuation of pipe-line shipments on credit
terms was confirmed in the comprehensive war-settlement agreement with that
country on December 6, 1945. The orig-
SURVEY OF CURRENT BUSINESS
20
inal agreements with France and Belgium, which set the pattern for
lend-lease credit activities, were superseded by war-settlement agreements of
May 28, 1946, and September 24, 1946,
respectively.
Surplus-property credit agreements
were worked out with some 21 countries
beginning in January 1946, except for an
earlier agreement with Iran and except
for the December 6, 1945, war settlement
with the United Kingdom, which covered
both lend-lease and surplus property.
Under the Merchant Ship Sales Act of
1946, approved March 8, 1946, authority
was granted to sell merchant ships to
foreign governments and entities on
terms calling for a cash down payment
of at least 25 percent, with the balance
payable over a period of not more than
20 years.
These three types of property credits
covered lend-lease goods already contracted for prior to August 18, 1945, but
not delivered prior to September 2, 1945,
surplus articles actually located abroad,
and merchant ships available for sale to
foreign purchasers.
In order that dollar funds might be
available for the procurement of additional goods vitally needed by foreign
nations during the immediate postwar
period, legislation was approved on July
31,1945, increasing the lending authority
of the Export-Import Bank from 700
million dollars to 3.5 billion dollars.
Approximately 1 year later, on July 15,
1946, legislation was approved authorizing a 3.75-billion-dollar credit through
the Treasury Department to the United
Kingdom. Authority for the Reconstruction Finance Corporation to extend
to the Republic of the Philippines a
credit not exceeding 75 million dollars
was granted by Congress on August 7,
1946, in addition to the broad rehabilitation program previously approved.
This credit is designed to provide fiscal
assistance to the Philippine government.
It seems clear from this review that
Government credits to foreign countries
have been extended largely for the purpose of providing goods and services
urgently needed for immediate postwar
reconstruction purposes. The special
loan to the United Kingdom particularly stressed longer range objectives,
such as the elimination of trade and currency restrictions and the development
of nondiscriminatory world trade.
Table 1.—Foreign Credits of the United
States Government by Type of Credit,
September 30, 1946
China
Czechoslovakia
Finland
[Millions of dollarsl
Type of credit
Disbursements
or utilizations }
Undisbursed
Out- or unutilized
standcoming
mitments
3,903
2,679
6,551
Loans.
2,129
1,632
5,049
Property credits
Lend-lease
Surplus property .
Merchant ships. _
1,034
984
50
976
927
49
1,500
564
867
All types 2
Advances
740
1 From July 1, 1940, except that Export-Import Bank
data are from Feb. 12, 1934.
2 Financial aid of 500 million dollars to China and 65
million to American Republics extended by the United
States Government has been excluded from this and
subsequent tables.
Source: Clearing Office for Foreign Transactions.
Various Types of Credits Granted
Credits extended to foreign countries
by the United States Government fall
into three main classes—loans, property
credits, and advances. Loans have been
the principal credit medium. Government lending agencies first establish a
line of credit, and disbursements under
such a commitment are then made only
as funds are needed to carry out the
approved program. Government lendTable 2.—Foreign Credits of the United
States Government by Principal Debtor
Countries, September 30, 1946
[Millions of dollars]
Disbursements
or utilizations 1
Principal debtor countries
All countries
American Republics
Belgium
British Commonwealth
United Kingdom
Other
- _ __
France and possessions
France
Algeria
Greece,
Italy
. . ._ - ._
Korea (Chosen) 2_
. .
Netherlands and
possessions..
Netherlands 3
_ _ _ _.. .
Netherlands Indies
Surinam .. .
Norway
Poland _ __.
Saudi Arabia
Turkey
U. S. S. R
..
.
Undis-
bursed
Outor unstand- utilized
ing
commit-
ing activity is usually measured in terms
of the volume of loan disbursements, the
amount outstanding (disbursements less
principal repayments), and the amount
of commitments remaining undisbursed.
Loans extended through September 30,
1946, may be summarized as follows:
disbursements 2.1 billion dollars, outstanding 1.6 billion dollars, and undisbursed commitments 5.0 billion dollars.
The unusually wide margin between disbursements and undisbursed commitments is attributable in large measure
to the special loan to the United Kingdom, which added 3.75 billion dollars to
commitments during the September
quarter but contributed only 400 million
dollars to disbursements. Moreover,
some of the commitments shown on the
books of the Export-Import Bank had
not yet been formalized in credit agreements by September 30, 1946, and in
other instances substantial sums still remained for later disbursement. Even
under normal circumstances there is a
tendency for disbursements to lag behind commitments, because of the lending pattern noted above.
Property credits (lend-lease, surplus
property, and merchant ships) differ in
substance from loans, in that funds are
not actually disbursed. Hence, the term
"credit utilized" is substituted for 'loan
disbursements" and reflects the transfer
of ownership of goods. Property credit
commitments are usually less precise
than loan commitments, because the
ments
3, 903
2,679
6,551
971
100
322
99
294
23
1,399
1,264
135
1,120
1,102
18
3,564
3,561
3
180
5
55
81
4
53
120
68
27
735
733
2
729
728
1
1,218
1,218
3
21
3
7
42
198
25
157
134
20
3
152
132
20
443
263
180
1
4
3
2
159
January 1947
1
3
3
2
49
67
90
24
36
192
1
From July 1, 1940, except that Export-Import Bank
data
are from Feb. 12, 1934.
2
This credit was extended to the United States Military Government in South Korea. Ultimately, the
obligation will be negotiated for inclusion in a treaty
between the United States Government and the future
government
of Korea.
3
Commercial banks have agreed to participations of
approximately90 million dollars, in addition to 10 million
dollars reported through Sept. 30, 1946. If these participations are fully taken up by commercial banks, the
United States Government undisbursed commitments
figure will be further reduced by 90 million dollars.
Source: Clearing Office for Foreign Transactions.
Table 3.—Foreign Credits of the United
States Government by Agency, September 30, 1946
[Millions of dollarsl
Agency
UndisDisbursed
burse- Outor
ments stand- unutior
lized
ing
utilizacomtions i
mitments
All agencies
3,903
2,679
Agriculture Department
Export-Import Bank
Maritime Commission
450
1,311
46
983
Reconstruction Finance Corporation
Reconstruction Finance
Corporation: Proper
Office of Defense Supplies..
Office of Metals Reserve
Office of Rubber Reserve
U.S. Commercial CompanyState Department.-.
State Department: Proper-Office of the Foreign Liquidation Commissioner
Treasury Department
Treasury D e p a r t m e n t :
Proper
Lend-Lease Fiscal Operations
6,551
1,664
69
649
275
37
395
70
117
12
55
233
15
18
4
5
35
49
1
48
867
2
48
48
867
1,444
1,327
3,914
460
400
3,350
984
927
564
1 From July 1, 1940, except that Export-Import Bank
data are from Feb. 12, 1934
2 Less than $500,000.
Source: Clearing Office for Foreign Transactions.
January 1947
quantity and value of the goods to be
transferred may not have been determined by the time the agreement was
signed. The status of all property credits extended by the Government through
September 30, 1946, may be summed up
as follows: Credit utilized 1.0 billion dollars, credit outstanding 1.0 billion dollars,
and unutilized commitments 1.5 billion
dollars.
Lend-lease credits showed a high rate
of utilization, with the amount utilized at
984 million dollars, outstanding at 927
million dollars, and unutilized commitments at 564 million dollars. Further
lend-lease pipe-line deliveries will correspondingly reduce the unutilized commitments figure and increase the
amounts utilized and outstanding.
Surplus property credits alone amounted to 50 million dollars for credit utilized,
49 million dollars for credit outstanding,
and 867 million dollars for unutilized
commitments, all reflecting realization
values. The low rate of utilization rests
partly upon a technicality, as credits
are treated as utilized only after deliveries to foreign governments are reported
to Washington from the field offices of
the Office of the Foreign Liquidation
Commissioner. There have been some
delays in deliveries and in reports of
deliveries.
Property credits relating to the disposal of merchant ships amounted to 69
million dollars for unutilized commitments, with no amounts reported as utilized or outstanding.
Advances against commodity deliveries are characteristically short-term. By
September 30, 1946, almost all advances,
totaling 740 million dollars on a cumulative basis, had been liquidated through
commodity deliveries or cash repayments.
This left only 71 million dollars of advances outstanding, practically all connected with the 1946 Cuban sugar crop.
Undisbursed commitments equaled only
2 million dollars.
The sum of all types of credits outstanding and unutilized, namely 9.2 billion dollars, affords an indication of the
active status, so to speak, of foreign
credits of the United States Government
on September 30, 1946. This combined
figure will be stressed in the subsequent
discussion dealing with country and
agency analyses in order to permit a condensed presentation. More detailed information is available in tables 1, 2,
and 3.
Concentration Among Countries
Two Allied countries, the United Kingdom and France, together were the recipients of over two-thirds of all United
States Government foreign credits outstanding and unutilized on September
SURVEY OF CURRENT BUSINESS
21
Chart 1.—Projected Annual Debt Service on Government Foreign Credits
of Approximately 8 Billion Dollars
MILLIONS OF DOLLARS
400
300
PAYMENTS OF
INTEREST /
200
100
PAYMENTS ON PRINCIPAL
1950
I960
Source of data: U. S. Department of Commerce.
30, 1946. The United Kingdom alone
showed 4.7 billion dollars in such credits.
This total consisted of the balance of the
RFC loan previously mentioned, the war
settlement of December 6, 1945, covering
590 million dollars (subject to adjustment) of lend-lease credits and 60 million of surplus property credits, and the
3.75-billion-dollar special loan.
For France the comparable total was
1.9 billion dollars. This was comprised
of two Export-Import Bank loans aggregating 1.2 billion dollars and a war-settlement credit of 720 million dollars. The
latter, in turn, consisted of lend-lease
credits of 420 million dollars and surplus
property credits of 300 million dollars.
All the American Republics combined
had credits outstanding and unutilized
of 616 million dollars, mainly ExportImport Bank loans along with some lendlease credits. Comparable credit figures
for other leading countries were: Netherlands and possessions, 595 million dollars, largely Export-Import Bank loans
but including some property credits; U.
S. S. R., 241 million dollars, all lend-lease
credits; and China, 201 million, principally Export-Import Bank loans and
property credits. Further country detail
will be found in table 2.
Participating Government Agencies
The Treasury Department, which is
responsible for handling the special loan
to the United Kingdom and the lendlease credits, accounted for the largest
share of foreign credits of the United
States Government. Combined credits
outstanding and unutilized of 5.2 billion
dollars, or 57 percent of the grand total,
were reported by the Treasury Department. The second largest agency total,
2.6 billion dollars, was shown for the
Export-Import Bank.
All surplus property credits are reported by the Office of the Foreign Liquidation Commissioner in the State Department, except for a minor amount
reported by the Office of Rubber Reserve.
A few small loans and advances are reported by the Office of Inter-American
Affairs, also in the State Department.
The Reconstruction Finance Corporation since July 1, 1940, has engaged in
foreign lending only to the extent of the
loan to the United Kingdom previously
mentioned, and a 5-million-dollar loan
to a firm in Canada, and is the agency
responsible for making the 75-milliondollar loan to the Philippines. Two
RFC-affiliated organizations, the Office
of Defense Supplies and the U. S. Commercial Company, have made a few
loans. The Office of Rubber Reserve has
extended a small amount of property
credits. These three RFC-affiliated organizations and a fourth, the Office of
Metals Reserve, have made advances on
a large scale in past years.
22
Most of the current activity in advances is accounted for by the Department of Agriculture. This agency,
beginning with the 1943 crop year, has
made substantial advances each year
against Cuban sugar stocks.
The Maritime Commission extended
foreign property credits for the first time
in the quarter ended September 30, 1848,
in connection with its disposal of merchant ships. Agency detail will be
found in table 3.
The National Advisory Council
As directed in the Bretton Woods
Agreements Act, approved on July 31,
1945, the National Advisory Council on
International Monetary and Financial
Problems was established "to coordinate
the policies and operations of the representatives of the United States on the
Fund and the Bank and of all agencies
of the Government which make or participate in making foreign loans or
which engage in foreign financial, exchange or monetary transactions."
Members consist of the Secretary of the
Treasury, as chairman, the Secretary of
State, the Secretary of Commerce, the
Chairman of the Board of Governors of
the Federal Reserve System, and the
Chairman of the Board of Directors of
the Export-Import Bank.
The Council has been active since its
organization on August 21, 1945, in exercising the duties prescribed by statute,
resulting in a unified Government foreign credit policy and in coordinated
operations among the various participating agencies.
Prospective Developments
By September 30, 1946, existing foreign credit authorizations of United
States Government agencies had been
largely exhausted. The chief remaining source of new credit commitments
was the unused lending capacity of the
Export-Import Bank. On September
30, 1946, this equaled 854 million dollars,
500 million dollars of which had been
earmarked for possible loans to China.
None of the 75-million-dollar loan to
the Philippines, authorized by Congress
to be disbursed by the RFC, had been reported as committed by September 30,
1946. Further commitments in connection with surplus property disposal
abroad might come to 100 million dollars or more. Finally, the Maritime
Commission may extend some 150 million dollars or more in additional credits
on merchant ships sold to foreign purchasers.
All these potentialities may add about
1.2 billion dollars in new credit commitments to the September 30, 1946, total of
9.2 billion dollars, representing the sum
SURVEY OF CURRENT BUSINESS
of credits outstanding and unutilized.
This would suggest 10.4 billion dollars
as an outside estimate of Government
foreign credit undertakings, on the basis
of conditions existing at the 1946 year
end.
Developments during 1947 may serve
to modify the indicated totals. Property credits, for example, could be altered appreciably by the conclusion of
a comprehensive war-settlement agreement with the U. S. S. R.
Operations of the International Bank
for Reconstruction and Development
are generally expected to relieve the
United States Government of responsibility for making substantial new foreign
loans. This Government already had
paid $317,500,000, or 10 percent of its
subscription, into the Bank by December
31, 1946, with an additional 10 percent
scheduled for payment up to May 26,
1947. The Government, of course, has
assumed a contingent liability for the
remaining 80 percent, which is not required to be paid except in the event of
losses by the Bank. The investment in
the International Monetary Fund, it may
be noted, will amount to 2.75 billion dollars.
Annual Carrying Charges
Terms applicable to a large proportion
of foreign credits have provided for interest rates ranging from 2 to 3 percent
and repayments of principal at annual
or semiannual intervals over periods
varying from 20 to 50 years, with frequent provision for a 5-year initial
breathing space during which principal
repayments are not required. Under the
terms applicable to both the 3.75-billiondollar special loan to the United Kingdom and the 650-million-dollar war settlement with that country, interest is
set at 2 percent, while both interest and
principal payments are postponed until
December 31, 1951, with payment to be
made in 50 approximately equal annual
installments. This is the only instance
in which provision is made for possible
waiver of annual interest payments.
The 720-million-dollar war settlement
with France stipulated interest at 2 percent and principal repayments in 30
annual installments beginning July 1,
1951. Otherwise, the lend-lease (including 3 Export-Import Bank loans relating
to approved lend-lease requisitions), and
surplus property credits usually bear
interest at 2% percent with principal repayments extending over 30 years. Reconstruction loans by the Export-Import
Bank typically have provided for interest
at the rate of 3 percent and for principal
repayments over a period of 20 to 30
years.
Inasmuch as the terms enumerated
above apply to a substantial majority of
January 1947
all Government credits, the broad pattern of future debt service is clearly indicated. It seems desirable to express
these credit terms in the form of a projection of annual carrying charges beginning in 1950. The results are set
forth in the accompanying chart.
This projection shows principal and
interest payments of 164 million dollars
for 1950, increasing sharply to 331 million dollars in 1951 and to 366 million
dollars in 1952, the peak year. The
abrupt rise in 1951 is attributable to the
initial principal and interest payment
on the United Kingdom special loan and
war settlement and to the first principal
repayment on the war settlement with
France. The further gain showing for
1952 is traceable to the first principal
repayment on the 650 million dollar Export-Import Bank loan to France extended in May 1946. The slow rate of
decline from 1952 to 1981 and the level
rate from 1981 to 2000 reflects the provision £or equal annual payments in the
agreement covering the special loan to
the United Kingdom and the war settlement with that country.
Any attempt to project annual carrying charges must rest on rather arbitrary assumptions. In the present projection, the entire United Kingdom loan
and war settlement are included, as well
as the outstanding RFC loan to the
United Kingdom. Virtually all lendlease credits and about two-thirds of surplus property credits are included. For
the Export-Import Bank, however, it
proved feasible to compute carrying
charges on only about 1.9 billion dollars
out of the Bank's combined loans outstanding and undisbursed loan commitments of 2.6 billion dollars. As a result,
chart 1 shows indicated carrying charges
on 7.9 billion dollars of credits, as compared with the 9.2 billion dollar total
representing all credits outstanding and
unutilized.
No ready formula is at hand to determine the relative burden of Government foreign credits as they may affect
the future commerce of nations. That
the total principal amount should so
closely parallel the World War I debt
structure, notwithstanding lend-lease, is
an arresting, though possibly irrelevant,
circumstance.
During the 5-year period 1935 to 1939,
total interest and dividends received by
this country from abroad, including all
private transactions, averaged slightly
in excess of 550 million dollars annually.
The net excess of interest and dividend
receipts over payments averaged 350
million dollars annually. Moreover, the
net excess of amortization payments to
the United States over those to foreign
countries averaged 150 million dollars
annually over the same 5-year period.
January 1947
It is clear from the projection of carrying charges noted above that Government foreign credits will add appreciably
to these totals. While it is true that
some repayments can be made in the
currency of the debtor country, the
amount involved is not large. New dollar credits to be extended or guaranteed
by the International Bank and possible
outflows of private capital, including
direct investment by American corporations abroad, will further increase the
amount of dollars which foreign countries will require in order to meet their
obligations to the United States.
The Postwar
Business Population
(Continued from p. 18)
with respect to discontinuance rates
may be significant for some industries,
the discontinuance rate for all industries was exceedingly low when compared with the normal rate prevailing
before the war. Sharp changes in discontinuance rates, while probably due
for some industries, had not yet manifested themselves in the first half of
1946.
Developments Since June 1946
Data previously presented suggest the
possibility of a leveling off in rate of
growth of the business population in
the latter half of 1946. Although figures
on the size of the business population
and on new and discontinued businesses
are at this writing not available after
June 1946, an impression of more recent
tendencies may be deduced from the indicators presented in charts 6 and 7.
Thus, the leveling off previously referred
to in the number of new businesses in
the second quarter of 1946 is confirmed
in the series on incorporations, which
is available through the latter half of
the year. The rate of increase in incorporations from the first to the second
quarter was substantially smaller than
in previous periods, while in the third
and fourth quarters there was a net
decline amounting to 27 percent.
Similarly, the series on commercial
failures and on corporate dissolutions
appear to extend the slight rise previously apparent in the trend of discontinuances. In the third quarter of 1946
the number of commercial failures and
corporate dissolutions had in each case
continued upward, following a faltering
advance in progress in the previous 12
months. A further moderate increase is
SUKVEY OF CUREENT BUSINESS
23
If the international financial structure
is to be firmly supported, it is essential
that the United States pursue international trade policies consistent with its
position as a creditor nation, in terms of
net income payments due this country.
Ultimate imports (including tourist outlays abroad and other invisibles) in excess of exports would appear to be a
major prerequisite. In addition to a
proper balance of international accounts, the level of foreign commerce is a
vital factor. Hence, a widespread worldtrade recovery, in which the United
States participates, would greatly ease
the burden of servicing the debt owed
this Government. Finally, the growth
of a truly multilateral system of international trade would assist those countries having an adverse balance with the
United States to fulfill their dollar obligations.
One generalization can safely be made.
The United States Government, as a potential 10-billion-dollar creditor on foreign account and as an immediate
investor of 3.4 billion dollars in the two
Bretton Woods Institutions, has a direct
and substantial stake in the sound development of future world trade.
notable in the fourth quarter for corporate dissolutions.
It should be noted, however, that the
level of incorporations, even at the end
of 1946, remained far above that prevailing in 1944. The recent advances in
commercial failures and in corporate
dissolutions have not been so pronounced
as to indicate a complete closing of the
huge gap which existed earlier between
the volume of new and of discontinued
businesses.
ditional rise in the number of concerns
in operation. A drop in business activity, on the other hand, could reduce the
size of the business population substantially, with the 1929-40 relationship indicating a decline of 100,000 in the number of firms for every loss of 10 billion
dollars in the deflated business gross
national product. Indeed, in view of the
numerous untried concerns and inexperienced entrepreneurs presently in
business, the effects upon the business
population of any reduction in general
demand might be even greater than the
prewar relation would suggest.
It is patent, however, that in relation
to the current level of employment the
business population by mid-1946, and
probably by the end of the year, had not
grown generally excessive, as has been
suggested in some quarters. Even so,
there is little doubt that some further readjustment in the distribution of the
number of firms among industries is to
be expected. In some particular segments of the economy the number of concerns have probably, even now, reached
a point greater than that justified by
actual business prospects. Other lines,
at the same time, hold promise of further expansion. Guides to these tendencies, which must of course be supplemented by detailed industry and regional
studies, were presented in charts 3 and 4
and in tables 2 and 3. Increased competition, which was reduced to a minimum
during the period of general scarcity
since the war, will no doubt accelerate
the readjustment process in 1947, which
will be the first year of trial for the
thousands of concerns which have
opened their doors since VJ-day. Nevertheless it must be emphasized that these
readjustments repeat, although on a
somewhat broader scale, the normally
expected reactions of the business population to the constant shifts in demand
and to the recurring deviations between
anticipations and actual developments
which are inevitable characteristics of a
business economy.
Some Implications
By the end of 1946, the basic peacetime patterns of the business population
had been generally reestablished. The
relationship between number of firms in
operation and the level of business activity, which was remarkably stable in
the period 1929-40, indicated that in
mid-1946 the bulk of an original wartime deficit of 700,000 in number of firms
had been eliminated. The prewar distribution of the number of concerns
among the various industrial segments
had also been more or less restored, although with significant differences reflecting the current pattern of demand.
While detailed data are not available on
the subject, it would appear that the
broad outlines of the prewar distribution
of firms by size had likewise been reestablished, with small business sectors of
the economy having been powerfully reinforced following their sharp contraction during the war years.
That the sharp rate of increase in the
business population was rapidly slowing
down in late 1946 has been suggested by
several considerations, although further
more moderate increases in 1947 are not
precluded if the current level of business
activity is maintained. The trend characteristic of the business population in
the decade prior to 1940 was slightly upward even when the level of business
activity was stable, while any future expansion in the volume of business will
most likely be associated with some ad-
SURVEY OF CUEEENT BUSINESS
24
The Business Situation
(Continued from p. 8)
New or Revised Series
Gray Iron Castings: New Series for Page S—32 l
Addition to Costs Varies
The freight-rate increase, while substantial, will have a relatively small effect upon total production and distribution costs since transportation costs
constitute only a small part of the delivered prices of most commodities. On
cotton, for example, the increased rate
on the raw material and the finished
textiles together will probably add less
than one cent to the retail cost of a shirt.
The increase on wool and on woolen
manufactures will add very little to the
retail cost of a wool suit.
The increases for agricultural commodities will not in general effect any
great change in the cost of production or
the cost to the consumer. The additional cost in New York of a can of fruit
or vegetables shipped from California
will be less than V3 of a cent. Ten
pounds of potatoes shipped from Maine
to New York will cost about 1 cent more.
Ten pounds of oranges shipped from
Florida to Pittsburgh will cost about iy2
cents more.
The additional charges on manufactured commodities also will be small in
comparison with the value of the finished product. On automobiles, a commodity with relatively high freight rates,
the range of increases for most shipments will be between $5.00 and $20.00.
This represents, in most cases, less than
1 percent of the delivered price to the
consumer.
The addition to costs will be largest for
heavy users of coal, low-rated products
of mines, and various construction materials which have a relatively low value in
proportion to their weight. Utilities and
industrial users of bituminous coal located at any distance from the mines
will have to pay from 25 cents to 30 cents
more for each ton. On the basis of current coal prices at the mine and current
average freight rates of approximately
$2.25, the net increase in transportation
costs will amount to about 5 percent of
the total fuel bill. Steel producers,
which are also heavy users of coal and
coke, will in general, because of their
proximity to mines, experience a somewhat lesser increase in fuel costs.
The general percentage increases in
costs which apply in the case of bituminous coal are roughly applicable in the
able to offset in part the increased cost of
raw materials through greater resort to
trucking.
case of certain road-building materials
and other heavy construction material.
Users of these products, however, may be
house products, however, the increases
range between 20 and 25 percent while
the increases on livestock amount to
only 15 percent.
January 1947
[Short tons]
Shipments
Month
19 45
1943, total
1944, total
Total
January _.
February
March
April
May
June
July
August.
September
October __ _
736, 286
697,221
812, 876
837,081
816,598
830, 773
726, 759
759,538
801, 479
802, 667
776, 411
843, 520
815, 460
824, 842
888, 656
813, 003
846,095
819,935
727, 528
822, 417
792, 286
839, 043
818, 294
786, 982
861, 524
816, 467
927,925
842,979
866,951
849, 449
748, 790
750,050
717, 768
767. 209
751^092
678, 091
536, 499
511,184
587, 380
532,015
542, 337
543, 788
468, 017
462,364
434, 416
461, 720
445, 952
397, 529
1, 921, 572
1,998 270
2, 089, 046
2, 031, 668
2,031,318
2 015 625
2,015,005
1,817,801
1,754 515
1,741,981
1 847 468
1, 877, 095
9, 441, 209
786,767
9, 794, 541
816,212
9. 578, 295
'798,191
5, 923, 201
493, 600
1. 928, 447
November
December
Total
Monthly average .
For sale
Unfilled
orders for
sale, end of
month,
1945
1
Compiled by the U. S. Department of Commerce, Bureau of the Census, from reports to that agency beginning October 1945, and from earlier reports to the War Production Board. All data are estimated industry totals. Data beginning
December 1943 are based on monthly reports from approximately 1,100 foundries, both commercial and captive, which
account for 92-04 percent of the total tonnage shipped by the industry, and annual reports for 1944 and 1945 from practically all foundries. Shipments for January-November 1943 are based on reports from slightly less than 2,000 foundries
representing approximately 98 percent of the industry. The reported totals for 1943 are shown in the original reports
and have been raised to industry totals by the Bureau of Foreign and Domestic Commerce. The term '-gray iron
castings" relates to all iron east ings, except malleable, including semisteel, alloy iron and white iron castings. Total
shipments include shipments ior use by the same company, or an affiliate, subsidiary or parent company, and shipments
for sale to other companies shown separately beginning 1945.
Similar data were not collected prior to 1943. Production figures for 1937 and 1939, compiled from reports of the
Biennial Census of Manufacturers, are as follows: 1937,7,818,000 tons; 1939, 7,125,000 tons; these figures include estimated
tonnage for a small quantity reported by values only. For 1946 data see p. S-32.
Cast-iron Boilers, Radiators, and Convectors: Data for page S-32 l
Boilers (thousands of
pounds)
Boilers (thousands of
pounds)
Year and month
Produc- Shiption
ments
Radiation,
production
Stocks, (thous.
of
end of square
month
feet)
1942:
176, 832 206,904 2 44,990
Total
Monthly average. 14,736 17, 242
1943:
14, 643 13, 4fiO 44, 843
January
February
13, 365 10,651 47,120
March
46, 326
13, 528 14,
April
14,031 11,658 45,908
13,140 12,569 44,146
May
11, 484 13, 567 43, 558
June
11,601 13, 360 42. 403
July
14, 656 15, 791 41,278
August
September
15, 519 19, 724 37, 072
October
17,003 18, 671 35, 404
November
_ 17, 317 19, 705 33. 006
December
16, 220 18, 390 30, 979
59, 600
4,967
172,513
Total
Monthly average. 14, 376
1944:
January
19,007
February
19,585
March
20, 437
ApriL.
20, 772
19,668
May
June
18, 202
31, 000
2,583
182,443
15, 204 41, 004
16,123
16,934
17, 894
14. 885
12,514
14,999
33, 863
36, 514
39, 057
44, 442
52, 254
55, 597
1,614
1,180
1,197
1,310
1, 309
1,406
Year and month
Production
1944—-Continued
July
August
September
October
November
December
14,052
18,132
17, 506
17, 581
16, 534
16, 719
,.
Q
fcm
P"
15, 695
21, 501
21, 696
21, 202
19,674
18,064
218,195 ill, 381
Total
Monthly average. 18,183 17,598
1945:
18, 696 17, 512
January.
16,159 15,138
Februar;
•ry18, 784 16, 707
March.
16, 238 17,171
April
18, 245 17, 337
May
18, 677 18, 556
June
13, 094 .12,668
July
17, 094 19,614
August
19,862 19,878
September
October
November
December
Radiation,
production
| Stocks, (thous.
of
e n ( j of
square
feet)
51,
48,
44,
40,
37,
35,
600
231
040
419
278
934
1,286
1.308
l|789
1,678
1,635
1,675
43, 269
17, 388
1,449
36, 768
37, 789
39, 866
38, 933
39, 841
39, 962
40, 387
37, 868
37, 852
32, 850
3
156,849 3154,581
Total
3
Monthly average. 3 17,428 17,176 3 38,212
1,730
1,592
1,589
1,466
1,461
1,317
1,074
1,423
1,599
1, O'J3
1, 497
1,904
17, 745
1,479
1 Data were compiled by the Civilian Production Administration and the predecessor agency, the War Production
Board, and cover all known producers of these products. The series for boilers include both round and square boilers.
The series for radiation includes data for radiation in thousands of square feet of radiation and convectors in thousands
of square feet of equivalent direct radiation. These series continue the data for round and square cast-iron boilers and
production figures for cast-iron radiators and convectors from the Institute of Boiler and Radiator Manufacturers published on pp. 137 and 138 of the 1942 Supplement to the Survey of Current Business. For radiation, only production
figures are available for the 1942-45 period.
For 1946 data, compiled by the U. S. Department of Commerce, Bureau of the Census, see p. S-32; these data are
based on reports of 22 companies, all the known producers of these products.
* Stocks as of Dec. 31.
3 Total or average for months shown; data were not collected for October-December 1945; the December stock figure
was computed from January 1946 data.
SURVEY OF CURRENT BUSINESS
January 1947
S-l
Monthly Business Statistics
The data here are a continuation of the statistics published in the 1942 Supplement to the SURVEY OF CURRENT BUSINESS. That
volume contains monthly data for the years 1938 to 1941, and monthly averages for earlier years back to 1913 insofar as available; it
also provides a description of each series and references to sources of monthly figures prior to 1938. Series added or revised since publication of the 1942 Supplement are indicated by an asterisk (*) and a dagger (f), respectively, the accompanying footnote indicating where
historical data and a descriptive note may be found. The terms * 'unadjusted" and "adjusted" used to designate index numbers refer
to adjustment of monthly figures for seasonal variation.
Data subsequent to November for selected series will be found in the Weekly Supplement to the Survey.
Unless otherwise stated, statistics through 1941
and descriptive notes may be found in the
1942 Supplement to the Survey
1946
1945
1946
Novem- Novem- December
ber
ber
January
February
March
April
May
June
July
August September
October
BUSINESS INDEXES
INCOME PAYMENTS f
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
Public assistance and other relief
do__.
Dividends and interest
„
do_._
Entrepreneurial income and net rents and royalties
m___mil. of doL
Other income payments
do...
Total nonasrricultural income
do
259. 3
255. 8
245. 9
14, 248
235. 7
238. 5
232.2
3,075
234.1
236.1
230.5
14, 272
233.5
231.1
229.3
13,047
231. 7
227.8
226.1
]2,0G8
234. 7
235.1
230.4
13,109
236.4
239. 0
232. 6
12,960
239. 7
240.6
233.8
12, 768
240.9
244.1
235. 6
14, 478
250. 6
249.9
240. 0
13,979
252.1
254.1
243. 2
13,481
246. 6
254. 3
242. 7
14,317
' 245. 5
' 253. 5
' 243. 7
•14. 673
0,175
3, 8<:0
2,354
1,572
1, 380
110
578
8, 543
3,044
1, 666
1, 363
2,170
87
535
8, 525
3, 046
2,073
1,301
2,015
88
2, 056
8,179
2,938
2, 018
1, 396
1,827
90
1,122
8,041
2. 617
2, 021
1,431
1, 672
92
525
8,360
3,222
2,075
1,476
1, 587
94
1, 386
8, 541
3,318
2,168
1,496
1, 560
93
892
8,629
3, 425
2, 228
1,476
1, 500
94
558
8,787
3, 641
2,176
1, 503
1, 467
95
2, 238
8, 845
3, 701
2,216
1, 537
1,391
96
1,113
8, 995
3,878
2, 255
1, 546
1,316
97
554
9,144
3, 92S
2. 296
1, 640
1, 374
99
1, 455
' 9.195
' 3, 902
' 2,323
1, 555
'1.415
'107
••893
2,009 j 2,509
1, 001
3, 004
11,312
12.846
2, 609
1,047
11, 719
2,415
995
10, 930
2,402
957
12,059
2, 507
927
11,698
2,577
2,500
910 !
858
11,423
13,178
3,099
826
12,082
3, 020
815
11, 084
2, 859
760
12, G93
3, 041
744
11, 951
' 3, 725
' 753
12, 239
1
FARM MARKETINGS AND INCOME
Farm marketings, volume:*
Indexes, unadjusted:
Total farm marketings.
_
.1935-39=100-.
Crops
.__.».-.__do
Livestock and products
.do
Indexes, adjusted:
Total farm marketings
...do.....
Crops
do....
Livestock and products
do
Cash farm income, total, including Government payments*
.....mil. of dol..
Income from marketings*.
do....
Indexes of cash income from marketings:!
Crops and livestock, combined index:
Unadjusted
. . . . 1935-39 ~100..
Adjusted
do
Crops
do....
Livestock and products.-.
do
Dairy products
.
do
Meat animals
-..do....
Poultry and eggs
do
175
J83
168
162
171
155
139
137
140
131
135
129
120
107
130
118
97
134
117
78
146
125
99
145
111
94
125
154
150
158
145
156
136
130
162
106
' 188
1P0
161
159
148
152
146
144
143
144
150
170
135
155
162
150
149
164
138
131
119
140
159
189
136
131
150
117
155
142
164
139
130
146
111
117
107
' 142
142
'142
3,089
3, 076
2.317
2,277
1,909
1,893
1,648
1,534
1, 455
1,383
1,426
1,370
1,569
1,419
1,657
1,551
1,523
1,469
2,407
2,271
2,257
2,193
2,027
2,014
' 3. 347
' 3, 332
463
400
409
393
333
460
355
333
282
325
253
201
260
340
268
282
331
2.50
201
252
345
231
281
351
235
187
235
330
208
305
360
268
194
317
278
206
285
348
243
207
258
281
214
276
302
259
223
284
269
233
299
411
249
223
255
294
221
286
375
226
220
214
281
342
353
351
355
271
441
298
330
329
333
327
284
367
323
30*3
263
315
228
293
139
360
'501
' 366
'391
' 350
'310
' 356
428
r2
?i
PRODUCTION INDEXES
Industrial Production—Federal Reserve Index
v 182
164
167
156
161
148
163
174
159
171
184
'184
Unadjusted, combined indexf
_. 1935-39=100.,
180
v 191
173
160
170
167
151
174
167
176
178
'191
186
191
Manufactures!
do
P214
192
164
182
184
136
190
175
194
203
214
215
210
Durable manufactures!
--do
176
167
102
43
169
164
159
109
154
179
184
183
183
Iron and steel!
.._......do
v 140
95
99
120
110
86
129
131
141
137
144
147
'142
Lumber and products!
do
P157
135
142
123
139
144
131
144
146
142
152
152
'155
Furniture!
,„ do
p 131
81
80
95
108
63
122
126
138
133
144
140
'136
Lumber!
.__.do
P275
217
231
207
188
241
243
'255
232
225
230
'263
'271
Machinery!
do
v 188
148
151
139
141
147
132
130
135
148
156
'168
r 179
Nonferrous metals and products!
do
155
144
148
148
147
145
150
141
139
163
176
191
Fabricating*
do
P!55
140
123
128
148
141
109
109
110
131
138
146
150
Smelting and refining*
...do
P
2
0
6
163
174
184
162
191
193
204
213
159
187
180
Stone, clay, and glass products!
do.._.
'209
175
107
113
125
122
166
171
179
188
108
145
134
Cement
_.do
181
134
143
138
123
147
147
154
155
128
144
Clay products*..
do
140
'157
242
247
251
237
239
237
261
Glass containers!
_
do
227
243
228
270
258
220
209
199
252
Transportation equipment!
do
238
241
242
241
217
245
239
'237
107
114
98
137
176
Automobiles! §
do
182
95
161
167
188
162
'185
P172
157
162
162
158
Nondurable manufactures!
do
162
159
154
161
166
172
160
'171
198
162
211
201
Alcoholic beverages!
do.
187
188
164
174
157
174
237
221
P
2
4
4
233
233
234
230
Chemicals!
„ . . . do.
232
231
237
231
231
233
235
'240
M10
Industrial chemicals*
do_
370
384
379
382
378
392
383
389
396
395
395
'400
117
134
117
137
Leather and products!
do.
111
131
127
127
101
119
117
118
113
116
136
119
Leather tanning*
do.
113
114
105
94
104
98
100
99
120
138
144
Shoes
do.
109
142
142
142
106
132
'131
118
130
*> Preliminary. ' Revised. § See note for automobile index at the bottom of p. S-2.
•New series. For a description of the indexes of the volume of farm marketings and figures for 1929-42, see pp. 23-32 of the April 1943 Survey; indexes since 1942 are from the
Department of Agriculture. Data for 1913-41 for the dollar figures on cash farm income are shown on p. 28 of the May 1943 Survey; revised monthly averages beginning 1940 based on
annual data are as follows (millions of dollars). Cash farm income, total including Government payments—1940,759; 1941,979; 1942,1,335; 1943,1,668; 1944,1,753- income from marketings—1940, 695; 1941,930; 1942,1,276; 1943,1,612; 1944,1,686; the monthly figures have not as yet been adjusted to the revised totals. Data beginning 1939 for the new series under Industrial production are shown on p. 18 of the December 1943 issue.
!Revised series. Data on income payments revised beginning January 1939; for figures for 1939-41, see p. 16 of the April 1944 Survey and for 1942-44, p. 20 of the May 1945 Survey.
Eevised data beginning 1913 for the indexes of cash income from farm marketings are shown on p. 28 of the May 1943 Survey. For revisions for the indicated series on industrial
production, see table 12 on pp. 18-20 of theDecember 1943 issue.
SUEVEY OF CURRENT BUSINESS
S-2
Unless otherwise stated, statistics through 1941
and descriptive notes may be found in the
1942 Supplement to the Surrey
1946
January 1947
1946
1945
Novem- Novem- December
ber
ber
January
February
March
April
May
July
June
August
Septr-m- October
ber
BUSINESS INDEXES—Continued
1
!
PRODUCTION INDEX ES—Continued
Industrial Production—Continued
Unadjusted—Continued.
Manufactures—Continued,
Nondurable manufactures—Continued.
Manufactured food products!
-_1935~39
do
Dairy products!
Meat packing
_____
___ do . . .
do...
Processed fruits and vegetables*
do _
Paper and products!
do
Paper and pulpt do
Petroleum and coal products!
do
Coke
do
do
Printing and publishing!
__
do
Bubber products!
Textiles and products!
_ _ _ _ _ _ do .
do
Cotton consumption
do . .
Payon deliveries
do
Wool textile production
do
Tobacco products
Minerals!
FucM
„___
Anthracite!
Bituminous coal! _„-_ _ _ _ _ _ _ _ _ _ _
Crude petroleum
Metals
Adjusted, combined index!
"M anufactures
Durable manufactures
_ _
Lumber and products
Lumber
. _. _
Nonferrous metals
do
do
do
do
..do
do
Smelting and refining* _
Stone, ciay, and glass products _
Cement
ClnT products*
_ _
Glass containers
do
do
do
do
Nondurable manufactures
Alcoholic beverages
Chemicals
- _
Leather and^products
Leather tanning*
Manufactured food products . . _
Dairy products
Meatpacking
. _ _.
Processed fruits and vegetables*
Paper and products
Paper and pulp
«_.
Petroleum and coal products
Printing and publishing
Textiles and products
Tobacco products _
Minerals
Metals
do
do
do
dc __
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
„ „ _ _ _ _ do. .
do
do
Manufacturers' Orders, Shipments, and
Inventories
New orders, index, total!
avg. month 1939—iflfl
151
p 100
171
118
142
138
p 174
148
149
143
145
182
1C8
134
131
p 172
154
155
94
133
130
v 166
116
171
92
141
137
p 161
91
139
p 101
129
89
148
143
p 171
151
139
*>134
120
101
146
141
P 166
113
137
»160
120
103
142
138
»163
73
118
192
146
133
226
150
157
114
205
143
125
228
149
104
114
215
151
138
233
153
142
122
216
159
146
234
171
148
129
221
162
147
241
173
152
129
219
161
144
245
169
147
126
215
164
149
247
174
164
v 135
p 139
P 123
P 116
P 150
134
143
112
159
141
80
126
137
94
142
139
61
134
146
114
159
144
60
134
149
121
160
147
47
131
145
125
168
138
44
99
108
121
10
146
46
p 182
p 1 CO
168
173
191
96
83
148
147
158
113
119
235
163
169
185
92
72
147
140
x64
119
124
244
160
163
166
108
95
151
140
172
131
144
247
152
154
138
119
108
139
128
18C
149
144
255
168
173
183
125
117
141
123
192
152
150
251
158
216
228
116
109
150
M54
155
128
142
138
» 174
156
212
230
111
114
153
155
138
134
132
r 172
161
231
234
117
115
154
* 116
131
145
133
130
p 166
167
238
232
133
126
160
p 117
178
146
140
136
» 161
130
171
169
114
146
154
112
143
112
118
151
143
p 137
138
109
133
108
233
183
182
181
P 164
P 153
p 148
]35
P 2.'M
v 171
104
240
172
P214
v H2
p 134
P 188
v 155
v 202
P 162
v 150
P
171
»243
155
145
163
p 178
P153
P147
P
P
P131
137
137
161
p 197
154
228
136
131
» 178
160
164
p 175
122
255
147
142
v l£2
165
129
218
165
152
240
174
159
115
211
144
127
233
144
145
115
124
125
60
149
62
141
149
86
156
153
95
165
176
190
130
123
132
109
190
152
148
243
159
167
175
129
123
130
109
175
127
140
213
166
176
232
134
120
156
P 122
140
163
148
143
P 171
164
lf>9
235
131
115
153
»129
130
165
146
141
»166
1?.
159
156
127
162
161
141
107
141
93
188
186
156
120
117
' 215
' 152
146
P 179
168
151
37
313
150
144
P 181
166
V
123
221
162
149
233
173
161
128
231
' 168
153
236
'183
166
135
r 228
r
168
155
r 242
177
179
150
153
128
159
154
126
147
150
120
156
151
132
149
151
125
163
p 149
' 136
T
147
' 150
'124
' 100
' 149
130
170
176
193
133
127
137
110
190
155
148
240
172
177
202
129
121
148
132
192
155
147
249
177
184
208
135
126
156
138
197
159
150
251
ISO
186
212
137
129
' 168
146
'204
162
150
265
' 181
'188
'214
' 136
' 127
' 179
150
'200
156
'148
250
161
155
231
127
104
145
"120
120
158
142
138
P 163
162
161
233
128
107
139
J-129
85
162
146
142
p 174
157
176
235
103
99
150
p 136
165
175
136
131
«• 178
164
174
237
120
101
147
p 137
138
155
147
142
*>182
' 165
927
235
119
101
136
p 143
38
142
150
144
p 181
'167
206
' 237
116
97
T
145
P 146
115
'167
' 152
146
v 179
126
161
154
124
164
163
129
165
153
124
144
140
129
162
155
12S
' .168
157
132
' 168
173
137
89
104
115
63
139
78
146
103
144
107
r 146
p 111
T
76
193
203
209
214
204
211
228
P189
84
125
147
142
P174
P
145
114
' 227
203
224
229
232
254
231
249
219
179
173
176
258
171
Durable goods industries __
_.
do .
221
240
231
223
252
250
r 281
270
174
163
276
165
181
Iron and steel and their products
do
240
297
331
295
292
'
3
2
1
316
269
235
215
305
217
188
Machinery, including electrical
137
152
155
157
159
ifil
153
166
' 173
175
204
146
156
Other durable goods do.
188
194
200
203
188
198
' 212
214
189
191
196
218
188
Nondurable goods industries
do
209
206
222
244
208
' 240
197
183
206
269
202
184
197
Shipments, index, total!
do ___
199
169
153
183
203
207
212
216
233
'259
263
280
200
Durable goods industries
do
98
134
142
126
169
188
r 216
217
236
94
88
119
81
Automobiles and equipment
243
191
92
174
186
178
187
197
212
••229
231
184
140
Iron and steel and their products
do___
167
185
186
210
206
241
'276
286
322
192
183
172
163
Nonferrous metals and products
do
255
202
233
240
289
257
285
312
222
199
198
250
263
Machinery, including electrical,.
.do..._
535
497
554
531
510
626
504
457
r 504
547
672
492
529
Transportation equipment (exc. autos)
do
211
223
220
199
211
'247
' 265
269
230
161
176
188
178
Other durable goods industries
f
Revised.
v Preliminary.
*Ncw series. Data beginning 1939 for the new series under industrial production are shown on op. IS and 19 of the December 1943 Survey.
!Revised series. For revisions for the indicated unadjusted indexes and all seasonally adjustecf indexes shown above tor the industrial production series, see table 12 on pp. 18-20
of the December 1943 issue. Seasonal adjustment factors for a number of industries included in the industrial production series shown in the Survey have been fixed at 100 beginning
various months from January 1939 to July 1942: data for these industries are shown only in the unadjusted series as the "adjusted" indexes are the same as the unadjusted. The
indexes of new orders were revised in the November 1945 Survey and the indexes of shipments were revised in the February and March 1945 issues; data for electrical machinery and
other machinery, which were shown separately in the May 1946 and earlier issues of the Survey have been combined; data for 1939-44 for all series, except the combined indexes
for ma<iiinerv. are shown on D. 23 of the July 1946 Survey and combined indexes for machinery are on p. 22 of the August 1946 issue.
NOTE FOR INDEX OF PRODUCTION OF AUTOMOBILE INDUSTRY, p. S-l.—This series is currently based upon man-hour statistics for plants classified in the automobile and automobile
parts industries and is designed to measure productive activity during the month in connection with assembly of passenger cars, trucks, trailers, and busses; production of bodies,
parts and accessories, including replacement parts; and output of nonautomotive products made in the. plants covered. Recently the level shown by this series has been much higher
relative to prewar than the level shown by factory sales of new passenger cars and trucks. The difference is accounted for in part by a sharp increase in production of replacement
parts and by other changes in the composition of output. It appears, however, that the series overstates the current level of total output in these industries. The compiling agenesis making a'study of production and man-hour statistics in an endeavor to arrive at a more accurate measure of over-all production in these industries.
SURVEY OF CURRENT BUSINESS
January 1947
Unless otherwise stated, statistics through 1941
and descriptive notes may be found in the
1942 Supplenient to the Survey
1946
1945
S-3
1946
Novem- Novem- December
ber
ber
January
February
March
April
June
May
July
Oct<>
August
BUSINESS INDEXES—Continued
1
MANUFACTURERS* ORDERS, SHIPMENTS,!
AND INVENTORIES—Continaed
j
8 h ipmen ts f—COD ticued.
I
Nondurable goods industries__avg. month 1939 = 100 i
Chemicals and allied products
.do.... I
Food and kindred products
do
'
Paper and allied products..__._
do
Products of petroleum and coal
do....
Robber products
„
do.__.
Textile-mill products
do....
Other nondurable goods industries.
do
Inventories:
Index, total
_
do
Durable goods industries
..-.
do—
Automobiles and equipment
do
Iron and steel and their products
do
Nonferrous metals and products*
do
Machinery, Including electrical t
..do
Transportation equipment (except automobile) I
Byg. month 1939=100. j
Other durable goods industriest
do___.
Nondurable goods
.
do.—I
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 industries t-do
Estimated value of manufacturers' inventories*
mil. of. doL.
262
252
309
245
221
230
190
189
2J8
167
178
292
166
189
204
201
230
183
165
212
165
207
195
203
218
182
161
229
178
184
206
221
216
196
167
260
Ifi5
203
204
213
225
185
154
242
187
199
208
221
213
200
173
282
197
208
206
208
209
208
185
293
208
199
209
215
2J0
206
181
288
207
208
200
217
258
138
168
283
167
177
175
124
134
230
If4
171
187
120
136
218
165
171
191
118
135
223
167
174
200
120
139
226
169
181
210
122
145
236 1
169
182
222
120
145
241
170
184
223
120
149
245
173
189
234
124
152
251
814
148
18(>
184
197
183
133
687
118
157
162
177
151
114
167
128
173
594
118
158
365
177
155
132
169
130
173
579
119
159
587
120
ie«i
167
167
161
112 |
180 I
141 |
182
615
123
159
166
161
163
114
186
148
177
593
124
159
167
157
162
114
199
153
174
615
125
158
165
153
160
116
196
157
174
16,590 I 16,829 ! 16,837
16,934
626
128
158
166
150
164
118
192
156
176
17,175
16,554
170 !
157 i
ni I
174 !
136 i
180
16,288 j 16,369
199
198
220
185
193
2C8 |
174 !
215
206
198
196
282 |
180
193
181 |
195
245 I
180 I
i
j
!
{
I
!
j
|
I
|
iii
25fi |
642 I
132 I
180 |
171
120
195
164
182
18,010
'231
T 225
'248
225
'204
'224
r 223
'244
r 222
209
311
- 207
•218
' 217
' 220
186
200
252
.131
161
261
163
2(\$
197
212
263
138
'107
' 27t>
684
136
173
171
183
178
124
198
168
186
708
141
17(»
174
184
181
129
204
171
189
18,466
'18,880
' 749
'145
184
18C
195
'183
r
132
' 174
'200
r
19,565
BUSINESS POPULATION
OPERATING BUSINESSES AND BUSINESS
TURN-OVER*
(U. S. Department of Commerce)
Operating businesses, total, end of quarter, --tbousands.Contract construction
_, .
do
...do—
Manufacturing
do. .
Wholesale trade .
_
___.
.
do
Retail trade
do
Service industries
do
All other
do....
New businesses, quarterly.
Discontinued businesses, quarterly
. . . do
do—
Business transfers, quarterly
r
3, 224.1
' 189.2
INDUSTRIAL AND COMMERCIAL FAILURES
(Dun and Bradstreet)
Grand total
nnmhpr
do
Commercial service
Construction
do
do _
Manufacturing and mining
...do
Retail trade
_
do _
Wholesale trade
Liabilities, grand total
_
. thous. of dol..
Commercial service
do
do .
Construction
...
do
Manufacturing and mining
_. .
do
Retail trade
- . .
do
Wholesale trade
*3, 503.9
v 233.4
v 288.5
v 159. 9
*1,616.8
v 666. 3
v 538.9
v 178.0
P43.3
v 103.3
'3, 3C9.1
214.1
' 276.5
' 152 9
' 1 , 554.7
'641 3
' 529.7
' 187. 6
'42.6
137.3
262. 5
' 143.2
'1,493.5
'617.3
' 518.4
'127.4
'37.4
'84.1
225
721
135
127
42
5
2
23
10
2
1,824
372
107
1,141
125
79
80
12
8
35
22
3
4, 372
2,279
155
1,677
245
16
92
13
14
29
27
9
2, 983
748
215
874
258
888
86
8
10
41
17
10
4,421
902
436
2,285
269
529
81
5
7
34
25
10
3,785
40
133
2,734
249
629
3,010
3,507
5,521
4,191
4,774
4,843
60
7
8
21
14
10
1,268
60
::::::::
41
26
4
3,656
60
191
2,066
1,323
16
69
3
13
25
24
4
3,006
7
262
1,996
661
80
74
7
9
36
17
5
3,434
413
162
1,948
835
76
92
12
12
37
26
5
3,799
459
516
2,113
297
414
96
11
17
32
28
8
4,877
311
1,368
2, 510
367
321
123
11
14
60
21
17
6,400
147
500
4,975
352
426
4,634
4,388
3, 946
3,550
3, 399
3,711
218
223
200
195
370
210
261
185
219
213
230
207
178
244
240
215
244
3C9
249
249
163
242
247
268
245
196
249
233
203
225
388
271
203
162
242
263
294
257
199
243
236
207
221
273
244
218
222
410
304
208
151
255
299
318
300
257
92
13
BUSINESS INCORPORATIONS
New incorporations (4 states)
number
COMMODITY PRICES
P R I C E S R E C E I V E D BY F A R M E R S !
U. S. Department of Agriculture:
Combined indexf
Crops
Food grain
Feed grain and hay.
Tobacco...
Cotton
_
Fruit
Truck crops
Oil-bearing crops.
Livestock and products.
Meat animals
_
Dairy products
Poultry and eggs
.1909-14=100..
do
do
do
do
do.-...
do
do
do
do
do
do
.....do
263
230
220
187
399
236
186
207
342
294
313
307
230
205
203
178
161
375
182
217
235
213
206
203
202
218
207
206
178
162
378
184
230
223
213
207
204
204
222
206
207
179
164
375
180
225
249
213
204
206
203
197
207
213
180
166
368
186
233
275
212
202
214
202
168
209
215
185
171
367
183
229
283
208
203
219
201
167
212
220
185
171
368
190
244
282
210
205
225
199
166
211
215
198
188
369 I
194
248
177
214
207
226
198
173
39(>
285
210
154
236
250
249
221
221
'Revised. * Preliminary
•New series. See note marked f with regard to the new series for inventories of "nonferrous metals and their products." For the estimated values of manufacturers' inventories for 1938-42, see p . 7 of the June 1942 Survey and p . S-2 of the May 1943 issue. The series on operating businesses and business turn-over have been revised beginning 1940,
see p p . 21-23 of the May 1946 issue for data prior to 1945.
fRevised series. The indexes of shipments were revised in the February and March 1945 issues; data for 1939-44 are on p . 23 of July 1946 Survey. See p. 22 of the August 1940
Survey for 1938-45 data for the index of inventories for "machinery, including electrical" and 1938-42 data for "nonferrous metals and their products"; the index for "other durable
goods industries" has been further revised since publication of the 1938-42 data in the August 1946 Survey; revised figures beginning September 1945 for this series and also for "other
nondurable goods industries" are shown in the November 1946 Survey; revisions for December 1938—August 1945 for these two series will be published later. The indexes of prices
received by farmers are shown on a revised basis beginning in the March 1944 Survey; data back to 1913 will be published later. Data for December 15, 1946, are as follows: Total
264; crops, 232; food grain, 224; feed grain and hay, 186; tobacco, 406; cotton, 242; fruit, 211; truck crops, 166; oil-bearing crops, 334; livestock and products, 294; meat animals,
311; dairy, 312; poultry and eggs, 226.
SURVEY OF CURRENT BUSINESS
1945
1946
Unless otherwise stated, statistics through 1941
and descriptive notes may be found in the Novem- Novem- Decem1942 Supplement to the Survey
ber
ber
ber
January 1947
1946
January
February
March
April
May
June
July
OctoAugust September
ber
COMMODITY PRICES—Continued
COST OF LIVING
National industrial Conference Board :f
Combined index
.
1923=100-.
Clothing
do
Food... _
do
Fuel and light
do
Housing
do
Sundries.._. _
._do
Consumers' price index (U. 8. Dept. of Labor):§
Combined index
_
1935-39-=100..
Clothing
_
_
.-do
Food _______
._....
-do—..
Fuel, electricity, and ice_____
do
Gas and electricity*
_-__,do
Other fuels and ice*
do—
Housefurnishings..
do
Rent
_
_.__
do_._.
Miscellaneous
do
RETAIL PRICES
!
U. 8. Department of Commerce:
All commodities, indeiV_._.
1935-39-= 100...
U. S. Department of Labor indexes:
Anthracite
_
.
1923-25=100..
Bituminous coal
do____
Food, combined index..
,1935-39=100-.
Cereals and bakery products*,
do
Dairy products*
.
>,_..„.._
..do
Fruits and vegetables* __,
„__
do
Meats*
.
„
do__
Fairchild's index:
Combined index
Dec. 31,1930= 1MApparel:
Infants'
..
_ _ _ __do
Men's
...
..do
|
Women's
.,
do___. j
Home furnishings
do____j
Piece goods. „
__do
WHOLESALE PRICES
U. 8. Department of Labor indexes:
Combhied index (889 series)
.
1926=100..
E con on i ic c3 asses:
Manufactured products
___.__do
Raw materials
__._do
Semimanufactured articles._. ______
do
Farm products
„
_.do____
G rains
_do
Livestock and poultry
__do
Commodities other than farm products... do
Foods
do
Cereal products.
.....do
Dairy products
„
,_
do
Fruits and vegetables
do
Meats
_do
Commodities other than farm products and foods
1926-100.
Building materials
do
Brick and tile
I-I"IIIIIdo"II
Cement
.....do
Lumber
I_I_I_"__do____
Paint and paint materials
.
.do
Chemicals and allied products!
do
Chemicals
_._do
Drugs a<>d Pharmaceuticals f________"_"do__I_
Fertilizer materials
„
„
do
Oils and fats....
do
Fuel and lighting materials
do
Electricity
do
Gas
...do
Petroleum products
do
Hides and leather products
do
Hides and skins
„
do
Leather
"
do
Shoes
-I-I.I-IIIIdoIIII
Cotton goods
I-I-II.II.Ido.I.I
Housefurnishing goods
do
Furnishings
_._ do.
Furniture
_
do
Metals and metal products
.".do
Iron and steel
__do
Metals, nonferrous
______do.I_"
Plumbing and heating equipment
_I_do_ I"
Textile products..
do
Clothing
".do
Hosiery and underwear..
Ravon..
_
silk
""..do"""
do
-_".-".•_"_"_"_::"•_•_"v__::::
Woolen and worsted goods
do
Miscellaneous
dol.il
Automobile tires and tubes
do____
Paper and pulp
.--""do""
Wholesale prices, actual. (See respective commodities")
151.7
108.7
187.7
114.7
91.8
137.0
If 9.1
0)
132. 0
106.7
94.9
113.9
96.9
91.0
115.5
107.1
94.9
114.9
97.1
91.0
115.7
129.3
148. 7
140.1
110.1
94.0
]25. 8
147.6
0)
124.6
129.9
149.4
141.4
110.3
94.0
126.1
148.3
1
108.3
124.8
108.2
96.4
116.2
97.4
91.0
117.3
106.7
94.
113.8
97.4
91.0
115.9
129.9
149.7
141.0
110.8
93.8
127 3
148.8
0)
125,4
129.6
150.5
139.6
111.0
93.8
127.8
149.7
0)
125.6
130.2
153.1
140.1
110.5
92,9
127.7
150.2
M08.4
125.9
143.1
142. S
108.2
108. 6
141.0
109.4
136.4
180.8
131.4
113.6 113.5
131.1
154. 5
141.7
110.4
92.6
127. 8
152.0
0)
126.7
131.7
155. 7
142.6
110.3
92.2
127.8
153.7
143.7
108.6
108.6
139.6
109. 8
136.6
181.1
131.3
114.6
99.7
131.3
100. 5
91.0
119.9
141.2
158.7
165. 7
113.3
92.1
133.8
157.9
127.2
133.3
157.2
145. 6
110.5
92.1
128.4
156.1
s 108, 5
127.9
144.8 |
145. 7
147.7
156.3
108. 6
108.6
140.1
110.3
137.0
183.4
131. 3
108. 5
108.6
141.7
113.3
137. 4
185.9
132.8
108.7
109.0
142.6
117.8 !
HI 3 |
138.6
185. 7
133. 5
108.8
111.0
145.6
122.1
147.8
183.5
134.0
113. 5
113.6
113.7
114.5
114.7 j
108.1
105.3
113.7
115.7
111.8
108. 2
105. 3
113.7
115.9
112.0
108.1
105. 7
113.7
116.2
112.2 |
108.1
106.2
114.7
117.0
113.1
108.1 I
106.2 I
0)
0)
128.2
144.1
161.2
M71.2
113.7
91.8
1S5. 0
ICO. 0
108. 7
r_9.8
148. 4
167.0
180.0
114.4
91.6
136. 5
167.6
0)
145. 9
165.9
174.1
114.4
91.7
136 5
165.6
108.8
129.9
130.8
!
170. 9
142.2 |
319. 5
116.5
187.7
140.6
H:8. 5
184.5
203. 6
we,. 2
107.6
HO. 1 j
109.1
135.9
172. 3
181.0
119.0
113.5 j
111.2
111.5
118. H
124.3
116. 1
108.1
105.3
J13.8
115,7
112.0
j
|
i
|
.43.1
107.3
107 6
141.4
109. 2
136. 2
177.3
131.2
108.1
105.3
113.8
115.7
112.0
108.0
105.3
1138
115.7
111.8
j-5.2
1/3.7 ,
1» {
1,,J
,,..
j
it i -
108 2
1K-.4
si - (
141.7
210.2
117 2
1)1.4
11". o
107.1
107.7
108. 9
110.2 j
111.0 j
112.9
102 9
118.3
97.6
129.9
133.8
131. 5
101.9
107. 3
95. 8
.13 5.0
125.7
108.1
103.4 !
118.9 |
98. S i
130. 8
133.9
132. 7
102.5
107.8
96.1
115.8
127.5
108.1
104. 5
120. 5
100.4
133.4
136.7
133.5
103.4
109.4
96.2
116.1
133.1
109. 6
105. 5
122.2
101. 1
135.4
137.0
135.1
104. 5
110.8
99.4
116.3
138. 2
110.3
106.1
123.6
101.9
137. 5
148.1
134.9
105.1
111.5
100.3
117.0
140.6
110.5
107. 3
2 120. 0
145.5
129.1
107.0
192. 1
151.3
118.9
106.9
152.8
96. 3
109.0
94. 5
100.2
118.7
116.7
100.1
155.5
107. 7
95 7
96.7
110.7
81.9
102.0
84.6
68.0
79.1
61.7
118.8
117.6
103 8
126. 7
104.7
107.9
101.6
105. 2
100.2
85.8
95.0
101. 1
107. 4
125. 1
71 5
30.2
100.5
119.5
116.7
100. 5
157.8
107. 8
96.1
97. 1
112.3
81.9
102. 0
84.8
68.7
77.7
61.6
118.9
117.6
104.1
126.9
104.7
107.9
101.6
105. 6
101.0
85.8
95.0
101.4
107.4
125. 5
73.5
30.2
100. 8
120.0
116.9
101.1
158.5
107.8
96.0
97.1
112.1
81.9
101.7
84.9
69.2
77.4
61.5
119.4
117.6
103.8
127.9
106.2
109 7
102 8
105. 7
101.2
85.7
95.0
101.6
107.4
125.6
75.2
SO. 2
101.3
120.9
116.9
101.5
160.1
107.8
9.5.9
97.0
111.5
81.9
101.8
85.1
71.3
79.1
61.6
119.6
117.6
103.9
128.2
106.5
110.1
102.9
106.6
103. 3
85.7
95.1
102.2
109.4
125. 8
75.3
30.2
(3)
112.7
95.6
73.0
113.7
102.2
124. 9
117.4 i
102.3
167.6
107.8
96.0
97.0
111.7
81.9
102.1
85.0
68.3
79.6
61.2
119.8
117.6
104.0
128.6
103.3
126.5
119. 9
102.4
171.4
108.0
96.1
97.1
112.4
81.9
102.1
86.1
66.6
79.7
62.8
119.8
117.6
104.0
128.6
107.5
112.1
102.9
108.8
107.4
87.1
100.8
107.9
117.4
137.6
75.5
30.2
(3)
112.7
95.7
73.0
113.9
103.9
127.8
120.6
102.6
172.5
108. 2
96.5
97.9
112.4
81.9
102.1
86.1
67.0
80.2
63.5
120. 4
120.7
104.0
128.9
108.3
113.4
102 9
109.4
107.8
89.0
100.8
108.8
119.6
138.6
75.7
30.2
3
()
105. 6
129. 9
121.3
102. 6
176.0
108.6
96. 4
98.0
109.4
82.7
102.1
87.8
67.2
79.6
64.0
122.4
121.5
110.7
129.5
110.4
114.5
106.1
112.2
110.1
99.2
106.0
109.2
120. 3
139.4
75.8
30.2
3
112.7
97.0
73.0
115.3
112.7
98.5
73.0
115.6
U)n'.7
140.1
151.8
137. 4
lOfi. 7
112.0
101.7
127. 3
136. 1
110.1
()
V' 3
I*.1 0
1 ^. 5
I 2 4
n\"
1.4 u
107. I
102.5
119.2
97.6
131.5
133.2
129. 6
101.6
108.6
95.7
113.8
128.7
107.9
112.7
95.3
73.0
112.0
! "1
1* 1
7
124.7
106. 8
102. 2
118.9
96.9
131.1
132.9
13L8
101.3
107.9
95. 5
113.2
123.8
107.9
112.7
94.8
73.0
109.3
!-• .1
167.2
r.o.o
1U 6
l i t . _»
113.3
2 139.6
112.7
94.8
73.0
109.3
1'7 9
I'M
iir.7
117 4
113.3
2 J34.6
153.4
129. 1
1(19. 8
165.4
197.4
2
132. 8
165. 4
130. 1
182. 9
139. 5
202. 8
1069
110.9
102.9
108.4
107.0
86.1
95.1
104.7
109.5
132.9
75.5
30.2
(3)
112.7
95.6
73.0
113.7
io:.
r
164. 3
2 57.0
W 4
162. 9
117 5
1 JO. 2
12} 9
r» 9
130 0
169. 9
109.5
132.1
122.5
104.0
177.3
114.9
99.3
98. 5
112.6
88.2
114.2
90.3
65.6
80.7
65.1
141.2
169. 3
133.2
140.4
111.9
117.3
106.4
113.3
111.3
102.7
106.0
118.1
120.5
148.6
76.3
30.2
126 7
112.7
101.3
73.0
117.1
•i: 7
1 1 1 <)
1< 1 C
119
124
J1 * . I
111.6
132.7
11-CO
105.8
177.6
113.9
98.4
98.4
110. 1
94.4
102. 5
94. 4
63.9
79.5
72.8
138. 9
155. 8
133.3
140. 1
112.6
118.5
106.6
114.0
113. 3
101.4
106.3
124.0
122.8
160. 0
87.7
?0 2
134.8
1 Ik. 8
102.0
73.0
119.6
2
134,1
"'. 0
V\ 3
16' 3
17i 0
174.2
1 "P. i
174.6
H7. 2
2 127.1
131.0 |
157. 9
127 4
128.5
HO 1
185.5
122. 5
191.4
L->1. ^ i
112 2
2 115.7
134.8
127. 8
106. 5
178.9
119.2
99. 9
98.8
111.5
91.9
111. 1
94.2
127 7
106. 5
178. 2
116. 7
98.4
98.6
110.3
90.2
103. 3
94.3
64.7
80.6
73.0
1*1.6
151.5
138.5
144.8
113.6
119.4
107. 5
114.2
113.5
101. 4
107.2
125.7
122.9
166.6
88.7
30 2
126. 5
113.9
102.1
73.0
121.9
~~~80.~8
73.1
142.4
153.0
138.5
145. 2
115.3
121. 3
109.2
2
125.7
113.7
101.8
107.2
128.6
125.6
172.9
88.8
30.2
125.7
116.6
104.0
73.0
124.6
1
Depa
April
_
.
^
..„„_._
T
127.0; all commodities other t h a n farm products, 125.1; all commodities other t h a n farm products a n d foods, 113.2; metals a n d p r o d u c t s , 1 1 4 T "
J N o t available.
»
••
JFor revised 1943 d a t a , see p . 20 of April 1946 Survey. § Formerly designated "cost of living i n d e x " : see note in April 1946 Survey.
•New series. For a description of t h e D r p a r t m e m of ( ommerce index of retail prices! ot all commodities, see p . 28 of the August 1943 Survey; m i n o r revisions h a v e been m a d e
in t h e figures published prior to February 1915 Survey; revisions are shown on p. 31 of February 1946 Survey. D a t a for 1923-45 for t h e indexes of retail prices of t h e food s u b groups are shown on p . 16 of t h e N o v e m b e r 1946 Survey; the combined index for food, which is t h e same as the index u n d e r cost of living above, includes other food groups n o t shown
separately. D a t a beginning 1935 for t h e indexes of retail prices of "gas a n d electricity" and "other fuels a n d ice" will be published later,
t Revised series. F o r revised d a t a for 1941-43 Jor t h e indi< at' d series on wholesale prices, see p . 23 of t h e N o v e m b e r 1945 Survey.
FRASER
Digitized for
January 1947
SURVEY OF CURRENT BUSINESS
Unless otherwise stated, statistics through 1941
and descriptive notes may be found in the
1942 Supplement to the Survey
Novem- Novem- December
ber
ber
1946
1945
S-5
1946
January
February
March
April
May
June
July
October
August September
COMMODITY PRICES—Continued
PURCHASING POWER OF THE DOLLAR
As measured b y Wholesale prices.
Consumers' prices
Retail food prices
Prices received by farmersf
1935-39= 100_.
do
do
do
57.6
65.9
53.2
40.4
75.3
77.3
71.3
61.9
75.1
77.0
70.6
51.4
75.1
77.0
70.8
51.6
74.7
77.2
71.6
51.4
73.8
76.8
71.3
50.9
73.0
76.3
70.5
50.2
72.5
75.9
70.0
50.4
71.3
75.0
68.6
48.9
70.9
60.3
43.6
62.3
69.6
58.3
42.8
64.8
68.5
57.3
43.8
60.0
67.4
55.5
39.0
CONSTRUCTION AND REAL ESTATE
CONSTRUCTION ACTIVITY*
New construction, total
.mil. of dol._
Private, total
_do
Residential (nonfarm)
do
Nonresidential building, except farm and public
utility, total
mil. of dol__
Industrial...
_
.do
Farm construction.__
do. .
Public utility
do....
Public construction, total..
do
Residential
_.
do
Military and naval
do
Nonresidential building, total
___
do
Industrial
do
Highway..
_
do
All other.._
do
985
730
320
438
309
98
443
348
116
476
'387
136
510
'430
159
'601
'499
195
710
'586
244
'824
'671
288
'917
'735
317
'1,000
'774
329
' 1,070
'810
345
' 1, 067
-787
340
' 1, 062
'768
330
311
172
20
79
255
63
16
26
6
95
55
138
80
10
63
129
2
34
31
12
31
31
162
91
5
65
95
2
18
26
10
21
28
' 189
'100
8
54
'89
'3
18
25
9
18
25
••212
'108
8
51
'80
'5
13
19
22
'231
'113
14
59
'102
r
9
13
'23
r
7
28
29
'255
'119
20
'67
'124
'11
15
22
6
42
34
'282
'129
30
71
'153
'20
14
23
6
67
39
'306
'139
40
72
'182
'23
14
26
6
73
46
'319
'150
50
'76
'226
'31
14
30
6
94
57
'323
'160
60
'82
'260
'41
18
32
7
105
'64
'317
' 168
50
'80
'280
'53
16
35
9
108
'68
'320
' 172
40
'78
'294
'63
' 20
'31
'8
'115
'65
P130
P123
83
42
94
44
86
48
108
56
87
50
107
61
117
85
136
95
148
135
147
129
194
201
170
172
203
211
169
179
201
195
174
177
179
162
165
161
164
155
158
157
152
147
151
147
' 138
'136
'145
'140
27,149
503, 745
130, 329
373,416
15,481
370,087
60,819
309,268
14, 298
330, 685
61,821
268,864
15, 332
357, 501
46, 715
310, 786
16,772
387, 399
56,449
330,950
42, 573
697, 593
146, 404
551,189
52, 733
734, 911
127,016
607, 895
63,188
952, 418
196,832
755,586
38, 265
807. 914
214, 534
593,380
36, 523
717,991
201,645
516, 346
40,101
679,909
204,817
475,092
36,702
619,857
186, 882
432,975
33,
573,
133,
439,
3,609
23, 708
160,871
5,332
39,871
207,671
4,450
37,656
103, 589
4,700
36, 335
217, 587
4,648
37,839
220,598
7,416
50,631
278, 725
4,769
41, 676
236,182
4,878
45,285
290,963
4,357
41, 370
273, 207
3,582
42,457
283,635
4,108
33,080
211, 530
3,648
25,929
169,127
3,696
33,932
225,355
22, 251
33, 530
221,113
9,297
15, 911
88,374
9,190
17,115
86,134
10,071
18, 572
89,715
11,469
18,423
102,079
34,066
49,198
275, 241
46, 652 • 56,264
31, 574
65, 530
74,992. 51, 533
370, 590 463, 600 332, 248
31,112
45, 327
281,227
33, 727
45,145
284,025
31,458
47,121
293, 831
28,128
36, 910
235, 068
1,018
82,626
690
43, 214
478
36,126
366
26,841
415
37,687
815
120, 230
1,039
95, 964
1,684
156,626
1,950
154,009
1,537
121,149
2,008
153,456
1,557
107,941
1,271
75, 535
271
39,135
262
30,828
180
14,836
195
23,358
240
27,035
276
23,397
273
32,175
362
41,229
384
48, 450
292
31,980
258
30,898
239
48,458
247
37, 248
21
7
CONTRACT AWARDS, PERMITS, AND
DWELLING UNITS PROVIDED
Value of contracts awarded (F. R. indexes):
Total, unadjusted
1923-25=100..
Residential, unadjusted
_
.do
Total, adjusted.
_
do._I~
Residential, adjusted
do
Contract awards, 37 States (F. W. Dodge Corp.):
Total projects
...number..
Total valuation
thous. of dol__
Public ownership
do
Private ownership
do»_._
Nonresidential buildings:
Projects
number..
Floor area.
thous. of sq. ft_I
Valuation
_
thous. of dol
Residential buildings:
Projects
.number. _
Floor area
thoos. of sq. ft__
Valuation
thous. of dol_.
Public works:
Projects
..number..
Valuation
thous. of dol..
Utilities:
Projects
.numberValuation
thous. of dol__
Indexes of building construction (based on building
permits, U. S. Dept. of Labor):}
Number of new dwelling units provided-1935-39=100..
Permit valuation:
Total building construction...
.do
New residential buildings
. ,
do
New nonresidential buildings
do""
Additions, alterations, and repairs
do
Estimated number of new dwelling units in nonfarm
areas (U S. Dept. of Labor):
Total nonfarm*
_
number.Urban, total f
do
Privately financed, total.__
do
1-family dwellings.,..
do
2-family dwellings
do
Multifamily dwellings
__do
Publicly financed, total
.do
Engineering construction:
Contract awards (E. N. R.)§
thous. of dol__
v 144
P128
342
206
806
400
164.9
117.7
111.0
159.2
189.9
319.1
294.0
278.0
252.8
283.7
317.6
248.5
'215.7
152.9
222.2
99.1
136.4
149.4
143.4
141.7
181.9
172. 3
149. 5
195. 4
163.8
175.2
187.6
159. 7
187.9
205.9
215.0
190.8
224.9
423.6
407.7
444.3
406.5
235.6
352. 7
140.7
218.5
212.2
331.3
116.6
189.8
210.4
303.4
136.7
192.4
218.7
321.2
135.8
203.1
' 235.4
378.7
119.4
213.9
194.6
288. 0
115.9
188.4
'191.4
' 286. 2
108.4
' 192. 9
4G, 600
28,601
28,479
23, 731
1,554
3,194
122
31,900
20,867
20, 417
17,421
1,069
1,927
450
29,500
20,036
19, 256
15,494
1,241
2,521
780
43, 912
30, 725
25,918
21, 786
1,309
2,823
4,807
48, 551
33, 479
28,503
24,072
1,792
2,639
4,976
83, 641
56. 002
50,066
41, 785
2,683
5,598
5,936
81, 035
53, 860
44,996
39, 000
2,571
3, 425
8,864
74, 257
48, 216
43, 583
35, 824
3,267
4,492
4,633
68,000
43, 833
36, 660
31, 372
2,144
3,144
7,173
76, 700
49,188
36,830
31,071
1,902
3,857
12,957
82,070
55,081
38,660
32,921
1,943
3,796
16,421
65, 800
43, 087
35, 044
29, 335
2, 050
3, 659
8,043
275, 825
315,709
238,009
348, 277
248,025
383,981
536,190
560,244
555,469
536, 594
541,325. 373, 056
'
'
'
'
60, 200
37, 401
36, 067
29,576
' 1,899
' 4, 592
' 1,334
448,457
HIGHWAY CONSTRUCTION
Concrete pavement contract awards:!
5,152
3,182
Total
._._
.thous. of sq. yd_.
2,071
1,641
2,130
1,819
3,903
3,239
4,585
3,731
3,382
2,906
3,345
Airports
_
_
do....
104
138
242
65
209
43
70
416
99
747
385
66
490
Roads
....do
1/957
1,970
1,121
1,829
946
1,475
2,211
2,51S
3,355
2,735
1,687
2,055
1,678
Streets and alleys
>_._._do
1,121
1,130
708
237
486
301
626
978
1,698
1,103
1,274
1,609
1,214
v Preliminary.
' Revised.
§ Data for November 1945 and January, May, August, and October 1946 are for 5 weeks; other months, 4 weeks.
\ Data published currently and in earlier issues of the Survey cover 4- and 5-week periods except that December figures include awards through Dec. 31 and January figures begin
Jan. 1; beginning 1939 the weekly data are combined on the basis of weeks ended on Saturday within the months unless a week ends on the 1st and 2d of the month when it is
included in figures for the preceding month (exceptions were made in the case of weeks ended Apr. 3, 1943, and Feb. 3, 1945, which were included in the preceding month.
* New series. Estimates of total nonfarm dwelling units include data for urban dwelling units given above and data for rural nonfarm dwelling units which are not shown
separately; the monthly figures beginning January 1939 and annual totals beginning 1910 are shown on p. 15 of the November 1946 Survey and data beginning January 1945 are in
the March 1946 and later issues (the January and February 1945 figures published in the March 1946 Survey should be rounded to the nearest hundreds to be consistent with data
for later months of 1945). The data on new construction activity since the beginning of 1944 are joint estimates of the U. S. Departments of Commerce and Labor; several of the
component series have been revised recently, the revisions extending in some cases back to.1929; data beginning May 1945 were revised in the July 1946 Survey; monthly data for
January 1939-April 1945 and annual estimates for 1915-38 are available upon request.
t Revised series. The index of purchasing power of the dollar based on prices received by farmers has been shown on a revised basis beginning in the April 1944 Survey. The
indexes of building construction have been revised for January 1940 to October 1944; revisions are available on request. Data for 1920 to 1944 for number of new urban dwelling
units are shown on p. 15 of the November 1946 Survey and data beginning March 1945 are in the May 1946 and later issues; the February 1945 figures for total urban and for
1-family dwellings shown in the April 1946 Survey include 840 publicly financed units which should be deducted to obtain separate figures for privately and publicly financed
units; there were no publicly financed units in January 1945 and all data shown for that month in the March 1946 Survey represent privately financed units. The estimates of
number of new dwelling units and the indexes of building construction above, based on permits issued or Federal contracts awarded during the month, prior to 1945, are considered
a measure of construction started during the month; in recent months critical shortages of building materials and limiting orders have caused considerable delays
in the start of
construction, or, in some cases, abandonment of the work; the data since the beginning of 1945 should therefore be considered as volume of construction for wThich permits were
or contracts awarded rather than volume started during the month.
Digitizedssued
for FRASER
SURVEY OF CURRENT BUSINESS
S-6
1945
1946
Unless otherwise stated, statistics through 1941
and descriptive notes may be found in the Novem- Novem- Decem1942 Supplement to the Survey
ber
ber
ber
January 1947
1946
January
February
March
April
May
June
July
August
^.tcm-
October
CONSTRUCTION AND REAL ESTATE—Continued
CONSTRUCTION COST INDEXES
248
American Appraisal Co.:
Average 30 cities
Atlanta
- -
-
-
New York
282
292
280
248
278
239.0
283
203
280
249
278
241.0
2S6
303
281
261
280
245.0
294
314
298
273
288
247.0
303
325
313
279
296
247. 0
310
332
318
283
300
249.0
317
337
324
294
309
252.0
326
346
332
308
316
258.0
335
360
341
313
323
263.0
342
307
347
317
332
2G7.0
347
372
353
320
337
2G7.0
125.1
169.4
145.9
149.9
127.4
169. 8
146.7
150.8
130.4
169.8
149.2
150.8
133. 6
172.1
151.8
151.1
131.3
172.9
153.8
152.7
133.2
177.4
156.7
154.3
133.5
177.9
156. 2
159.9
138.6
178.6
158.7
161.9
141. 2
180.0
1G0.6
164.0
142.6
181.5
164.0
164.9
143.
181.
164.
1G5.
0
9
3
3
144. 0
182.3
164.8
165. 8
124. 4
160. 7
147.7
151.5
127.3
170.4
148.3
152.6
128.9
170.4
151.1
152.6
129.3
172.9
151.8
152.8
129.5
173.5
154.6
155.0
131.0
179.3
156. 5
155.8
131.2
179.7
156. 9
163.8
137.0
180.3
158.7
164.8
141.3
181.5
159.3
166.2
144. 4
184. 5
167.0
1G6.7
144.7
184. 8
107. 2
1G7.0
146. 0
185.1
167. 6
107. 2
do .-...
124.4
158. 2
148.7
148.8
127.0
167.0
149. 3
149.5
128.9
167.0
150. 3
149.5
129.3
169. 0
152.3
149. 9
130.1
169. 6
154.5
152.1
131.3
174.7
156. 2
153.1
131.5
175.1
156.6
159. 5
135. 5
175.6
160.1
160.8
137.5
177.3
161.5
162.9
141.8
179.5
1G8.0
1G4.3
142.2
179. 9
168. 2
164. 7
142.7
180.3
168.6
164. 9
....do.—
...do
do._._
do
135. 5
165.1
148.0
156. 6
137.9
173.1
148.6
157.7
340.8
173.1
150.6
157.7
141.2
174.9
154.0
158.8
141.2
175. 5
155.3
159. 5
144.7
180. 3
157.6
162.2
144.9
180.7
158.0
165.8
148.6
181.3
159.0
167.8
152. 4
185. 6
163. 5
172. 5
154.5
187.1
165.8
173.7
155. C
188.0
166. 0
174. 6
156. 2
188.9
1G6. 4
174.9
do
do
137.1
165. 0
145.8
157.6
138.4
173.7
146.4
158. 3
142.6
173.7
147.7
158.3
143.0
175.6
153.0
159.5
143.0
176.2
153.7
159. 8
147.2
180.6
156.1
163.0
147.4
181.0
156.5
165.0
150.2
181.8
157.5
167.7
153.3
180.0
164.0
172.7
155.4
187.4
162.9
174.0
156. 5
188. 5
103.1
175.1
157.0
189. 7
103. 5
175.4
3GS. 1
240.8
313.5
242.2
316. 3
243.9
319 5
245.4
323.8
254. 4
334.6
257.3
339. 7
264.2
347.9
266.1
353.9
272.0
361.4
272.0
360.2
272 7
SGO. 9
273. 7
3G2. 5
VA 9
158. 3
103.1
139.1
135. 0
147.3
139.3
135. 2
147 5
139.7
135.5
147.9
140.3
136. 3
148.5
141.0
137.1
148.9
142.1
138.0
150.6
143.6
139.2
152.5
145. 7
141. 6
153.8
147.7
143. 7
155.6
149.8
146.1
157. 2
151. 9
148. 3
159. 3
154.2
150. 5
101.6
32. 710
6, 468
32, 598
6,499
38. 722
6, 53S
34, 543
6,569
42, 377
6,603
45,513
6, 639
46,113
6,679
6,721
0)
0)
6,759
6, 789
G, 818
6, 855
560,180
527, 424
634,117
618.763
765, 973
887, 266
964, 438
917,414
981,187
999,221
92S, 878 1,006,681
198,159
187,710
216, 842
225, 519
300,163
342, 999
361, 298
325,997
326,048
324, 459
309, 791
326,199
22, 922
129, 557
17, 848
3,958
13, 425
30,807
145, 342
21,372
3, 803
15,518
30, 866
154,219
19, 801
4,217
16,416
45, 391
202, 995
24, 244
6.198
21, 335
53, 202
235, 877
24, 882
6, 796
22, 242
62,189
243, 458
24, 451
6.954
24, 246
56, 297
218, 575
22, 402
6, G25
22,098
59,708
216, 369
21, 388
7, 327
21,256
59,377
211,804
22, 032
8,481
22, 765
55.
198,
21,
8,
26,
GO, 931
207,139
24, 376
9, 0G1
24, G92
do
J
8t Louis
—
_.do
Associated General Contractors (all types)
. do_ «_
E. H. Boeckh and Associates, Inc.:
Apartments, hotels, and office buildings:
Brick and concrete:
Atlanta
U. 8. average, 1926-29«100._
New York
do
San Francisco
do.—_
Ft Loui1?
....do.-..
Commercial and factory buildings;
Brick and concrete:
Atlarts
do. __
New York
do __
San Francisco
____do
Bt Lou's
do
Brick and steel:
Atlanta
- --do ,
New York
do
8t Louis
Residences:
Brick:
Atlanta
..._ — ..„
New York
San Francisco
Rt Louis
Frame:
Atlanta
\T fiw York
—--
>
.
.
270
258
278
287
275
248
276
238.0
_!913«100__
- - -do ._
8t Louis
- do_ __
Eogineering News Record:
Pnildtne cost*
1913«»100_.
Construction fall tvpes)
- do
federal Home Loan Bank A dm nistraiion:
Standard 6-room frame house:!
Combined index
1935-39«!00
Materials
.
do
Labor
do
270. 0
278. 5
REAL ESTATE
Fed. ETous. Admn., home mortgage insurance:
dross mortgages accepted for insnranee-.thous. of doL,
6, 885
Premium-paying mortgages (cumulative) mil. of dol._
Estimated
total noofarm mortgages recorded ($20,000
and nf ider)*
thous. of doL 8f>9, 489
Estimated new mortgage loans by all savings and loan
4<*s"dations. total -.
thous. of dol._ 241, 476
Classified according to purpose:
Mortgage loans on homes:
61,1S7
Construction....
,
do
Home purchase. _
_.._.._
do.-._ 170,162
21,625
RefUnanclng
_ ._...
.. — d o
7,034
Repairs and reconditioning
.do
21,
4CS
Loans for all other purposes. ..
.
do
Loans outstanding of agencies under the Federal Home
Loan Bank Administration:
Federal Savings and Loan Associations, estimated
Federal Home Loan Banks, outstanding advances to
meirber institutions
mil. of dol_.
Home Owners' Loan Corporation, balance of loans
outstanding
- - ...rail, of doL
Foreclosures, nonfarm, index, adjustedt—1936-39=100..
Fire losses
...-thous. of doL.
24, 4$~i
' 19,411
4, 4S7
14,095
2.3S2
258
97
G51
sm
44, 700
9.0
37, 303
1
2,887
2,572
I
0)
354
842
54G
027
022
3,3 52
195
174
165
153
156
173
203
202
214
852
7.9
49,478
831
8.8
49, 808
813
7.8
51, 759
794
8.3
53. 252
773
7.5
52,153
753
7.1
46,094
735
G.7
44, 240
715
6.3
40,998
699
6.8
40.019
235
253
682
GG5
7.0
40.. 256 1 40,108
DOMESTIC TRADE
ADVERTISING
A. ivenising indexes, adjusted:!
154. 2
139.4
157.7
151.6
184.5
171.9
149. 1
152. 6
156.8
177.1
163.5
151.9
Printers' Ink f combined index
1935-39*= 100..
201.9
177.6
200.9
1S2.2
159. 6
156. 2
184. 2
182.8
195. 7
167.7
161,5
167.8
Farm papers
,
— — — ..-—__ —
do..-_
207.4
203.8
214.1
193. 2
218.8
176.2
173.1
172. 5
179.9
191. 3
228.7
237.7
Magacines
„..—
, — ,.___
do
201.6
105.3
127.2
139.5
118.4
145.9
134.4
127.2
124.5
126. 6
125.9
153.0
122.8
Newspapers
,
_..._..___-..„__
do.
218.1
222. G
217.7
202. 0
212,3
189. 8
182.0
193.9
199.9
167. 2
216.7
213.8
Outdoor
_
_-._-.
...do.—.
273.7
279. 8
317.1
283.3
264. 0
294.1
297.2
313. 2
298. 5
273.8
307.0
307.8
Radio
.___—...
.
--do
162.5
183.0
202.0
168. 4
189.1
165.1
164.5
166.1
193.9
171.9
207.6
175.0
Tide, combined index*
—-...—
--do
!
Radio advertising:
14,414
16,821 - 15,827
16, 776
14, 007
17,179 j 17,449 ' 15,758
17, 273
16, 442
15,134
1G, 725
Cost of facilities, tot i
_..
. _ thous. of doL.
928 J
922
807
797
771
660
559
GOG
G22
815
884
Automobiles and tccessories...,...—._ — ._—_do
788
2H |
192
95
257 j
209
91
81
87
160
175
196
224
Clothing
._..
do
301 I
363
316
327
332
254
325
301
323
266
Sol
Electrics] household equipment.. ——...—.
do...-!
3G4
345
376
308
293
343
3°1
350
3o6
351
Financial
—do....'1
4, 546
4, 677
3,707
4,175
4,420 | 4,312 j
4, 473
4,483
3, 618
3,991 j 4,578
4,102
Foods, food beverages, confections..
.__—.do....
r
Revised. {Minor revisions for January 1939-July 1942 are available on request. i Discontinued.
•New series. For a description of the series on nonfarm mortgages recorded and data for January 1939 to September 1942 see p. S-6 of the November 1942 Survey. For a brief
description of the Tide index of advertising see note marked " • " on p. S-6 of the April 1946 Survey; data beginning 1936 are available on request. The Engineering News Record
index of building cost is computed in the same manner as the construction cost index which is described in the 1942 Supplement to the Survey, except that skilled labor is substituted
for common labor; data beginning 1913 will ht shown later.
fRevised series. The index of nonfarm foreclosures has been revised for 1940 and 1941; revisions are shown on p. S-6 of the May 1943 Survey. Indexes of advertising from Printers'
Ink have been published on a revised basis beginning in the April 1944 Survey; revised data beginning 1914 will be published later. The indexes of cost of the standard 6-room frame
house
are shown on a revised basis beginning in the April 1946 Survey.
SURVEY OF CURRENT BUSINESS
January 1947
1945
1946
Unless otherwise stated, statistics through 1941
and descriptive notes may be found in the Novem- Novem- Decem1942 Supplement to the Survey
ber
ber
ber
S-7
1946
January
February
March
April
May
June
July
August September
October
DOMESTIC TRADE—Continued
ADVERTISING—Continued
Radio advertising—Continued.
Cost of facilities—Continued.
Gasoline and oil
. . __ _.
thcus. of dol .
Housefurnishings, etc
..doSoap, cleansers, etc
do
Smoking materials
do .
Toilet goods, medical supplies
do. . .
All other
do
Magazine advertising:
Cost total
do
Automobiles and accessories
do
Clothing
_ _.
do . .
do
Electric household equipment
Financial
do
Foods, food beverages, confections
do .
Gasoline and oil
_. _
. do . . .
Housefurnishings, etc
do
Soap, cleansers, etc
do . .
Office furnishings and supplies
. do
Smoking materials
do
Toilet goods, medical supplies
do .
All other
. do
5, 213
Linage, total
thous ;>f lines
Newspaper advertising:
Lineage, total (52 cities)..
. do . . . 164,120
Classified
36, 772
do
Display, total
127, 348
..doAutomotive
do
4 675
2 025
Financial
do
General
. . . .
do .
26, 596
Retail..
. . do .
94,052
592
166
1,306
1,273
5,318
2,076
694
171
1,273
1,322
5, 513
2,102
650
164
1,472
1,342
5,660
1,921
620
149
1,319
1,211
4,920
1,796
696
170
1,402
1, 328
5, 374
2,001
537
153
1,445
1,270
5,145
1,728
535
173
1 482
1,316
5,314
1,688
505
163
1,388
1,268
4,907
1,755
508
154
1,244
1, 337
4, 714
1.320
503
177
1. 205
1, 267
4, c25
1,316
536
168
1,311
1, 219
5, 004
1, 536
520
108
1, 505
1,407
5, 292
1 929
30, 597
2,344
2,579
1,187
524
3,944
436
1,761
554
617
1,031
5,197
10,423
4,804
30, 446
2,456
2,125
1,136
528
4,008
339
1,690
442
637
1,104
4,930
11,050
4,037
21,472
1,547
1,650
469
488
3,120
233
935
371
326
836
3, 520
7,976
4,139
26, 503
1,417
2, 387
783
587
3,983
306
1,229
606
486
805
4,905
9,010
4,604
31, 869
1,445
3, 564
797
623
4,472
359
1,966
766
657
929
5,346
10, 943
4,910
33,767
1,622
3,732
893
646
4,407
533
2.105
703
695
870
5, 654
12, 007
4, 775
32,138
1,771
3,343
855
583
3,895
599
2,423
655
618
755
5,171
11,469
4,271
32,151
2,297
2,448
782
580
3,919
589
1,980
793
790
808
5,879
11,285
3,757
25,106
2,034
1, 215
549
564
3, 298
557
1,138
481
406
546
4,608
9, 710
3,870
27,134
2,186
2, 936
638
478
2, 907
638
1,180
476
554
604
4, 208
10, 328
4, 704
36, 506
2T 425
4,883
1,145
695
3, 660
526
2,426
674
1, 053
916
5, 226
12, 876
5, 308
39 463
2,503
4,831
1,161
629
4,394
715
2,772
779
896
1,095
6,172
13,515
5, 420
140,761
28,120
112, 641
5,363
2,003
26, 022
79, 253
130, 756
26, 321
104, 435
3,904
1,999
21, 304
77,228
115,746
28, 648
87, 098
2,855
2,741
18,916
62, 585
121,177
29, 677
91, 499
2,092
2,076
21, 057
66, 274
146, 539
36,097
110, 442
2,784
2,365
23, 083
82,230
144, 013
35,147
108, 866
3,427
2,388
21,934
81,117
143,691
35,143
108,548
3, 479
2,159
22,315
80, 595
137,718
34,502
103, 216
3,714
2,138
21,371
75,993
131, 280
35,983
95, 266
3, 644
2, 584
19, 973
69, 095
144, 288
38, 643
105, 045
4, 046
1. 931
19, 378
80, 290
152, 871
39, 018
113,853
3, 495
1,877
22, 067
86. 414
165,014
39,628
125,386
4,480
2,197
27, 207
91, 502
GOODS IN WAREHOUSES
Space occupied in public-merchandise warehouses §
percent of total..
88.3
91.1
89.8
88.6
88.4
87.5
87.1
85.9
85.2
85.1
85.5
87.0
87.6
4,253
95,112
5, 612
180, 573
6,292
143,954
5,111
143, 366
5,571
123,104
5,559
135, 593
5, 518
120, 882
4,729
105, 671
4, 408
98,557
4,444
101, 857
4, 330
101. 735
4,167
101,169
4,575
107, 822
thousands . 14,042
thous. of dol— 193, 807
13.562
223,874
12,926
206, 329
14,925
224, 455
12, 954
187, 773
15, 473
233,141
15. 094
208, 273
14,164
190,934
13,343
175,987
13,217
181, 229
13, 690
192, 319
13,125
185, 779
15, 649
219, 270
POSTAL BUSINESS
Money orders:
Domestic, issued (50 cities):
Number
Value
Domestic, paid (50 cities):
Number
Value
_
. . . thousands.thous. of dol-__
CONSUMER EXPENDITURES
Estimated expenditures for goods and services:*
Total
.mills, of dol-Goods
*^n
Indexes:
Unadjusted total
Sprvifps finolndini? sifts)
Adjusted, total.
Goods
.
Services (including Gifts)
1935-3Q—inn
do
do
„
__ - d o —
..dodo
30,056
21, 776
8,281
••28.132
' 19,
495
r
8,637
' 30,830
* 22, 055
' 8,775
32,100
23, 050
9,050
204.5
232 6
155 2
191.6
212. 4
155. 2
r 191.4
208. 3
161.9
205.7
' 231. 5
r 160.4
» 209. 8
' 235. 6
' 164. 4
•• 207. 6
«" 232. 2
r
164. 3
218.4
246.2
109.6
220.1
1
170.1
RETAIL TRADE
All retail stores:!
'8,911
8,199
7,473
8, 555
6,430
8,480
6,695
7,671
7,181
9,087
7,926
7,736
7,707
Estimated sales, total
..mill ofdolr
1,267
1, 921
1. 770
1,060
1, 722
1,854
1,554
1, 611
1,161
1,315
1,108
1,430
Durable goods store _ _ ._ „
1,608
do —
r
321
377
682
753
357
(591.
609
344
328
730
551
577
454
Automotive group
_ ._ . do —
246
222
261
452
500
502
••621
598
205
484
236
426
333
Motor vehicles
»
„ _ __. do _..
98
116
125
132
120
132
132
121
111
108
125
125
121
Parts and accessories
do .
381
475
571
545
602
541
401
540
381
540
401
516
525
. do _...
Building materials and hardware . — —
262
244
295
325
336
36?
349
381
330
312
248
215
322
Building materials
do - .
50
G2
58
52
64
38
40
63
56
36
57
41
58
Farm Implements
do
129
142
151
143
158
100
152
154
99
112
130
147
145
Hardware
. . .
. _ . do ._
273
284
334
392
377
418
410
471
468
361
386
306
302
Homefurnishings group
do
285
281
317
248
259
196
210
286
317
275
233
265
268
Furniture and housefurnishings
do ...
132
118
151
77
73
86
105
129
154
111
74
96
95
Household appliance and radio
..do—
91
84
77
116
246
89
110
74
82
99
96
86
Jewelrv stores
101
. do . . .
r
5, 370
6,206
6,318
6,060
6. 780
6, 476
6, 990
7,233
6,587
7,174
6,020
6,181
6,277
Nondurable goods stores
do
760
719
791
856
555
858
566
713
576
731
986
814
781
Apparel group
_ . . . . . do ___
195
173
129
125
164
186
131
166
222
237
208
275
193
Men's clothing and furnishings
do
355
326
364
312
421
340
375
274
275
382
244
322
377
Women's apparel and accessories _ — do ....
123
80
95
98
129
75
105
111
83
101
114
153
107
Family and other apparel
..do134
119
132
100
116
90
127
90
139
137
127
130
118
Shoes
do -.
283
299
293
300
287
298
296
274
262
300
284
375
256
Drug stores
_ __
. . _ _ . do __.
988
1,018
1,009
1, 024
1, 073
1,054
1,072
880
951
967
1,011
968
953
Eating and drinking places
._ . . . __ ..do..—
2,324
1,823
1,713
1,915
1,978
1,927
2, 019
2, 287
2, 004
2,161
1,996
1,880
1,769
Food group
...
-do—
1,628
1,492
1, 748
1, 792
1,297
1, 452
1, 375
1,456
1, 512
1,502
1,408
1,355
1, 527
Grocery and combination...
-do—
532
475
486
538
416
532
46S
414
448
459
507
502
472
Other food
. ..
. — . do _—
332
300
312
325
340
320
343
270
310
296
278
297
276
Filling stations
-do—..
r
larked " § " on p. S-6 of the April 1943 Survey in regard to enlargement of the reporting sample in August 1942.
Revised. § See note mar!
*New series." The series on consumer expenditures, originally published on a monthly basis in the October 1942 Survey (pp..8-14), are now compiled quarterly only (dati
note to" the table on p. 8 of the February 1946 Survey); indexes beginning 1939, both including and excluding expenditures of military personnel abroad, are available on request.
tRevised series. For revised data (dollar figures and indexes) on sales of retail stores for January 1943 to June 1944, and earlier revisions for a number of series, see table on pp.
19 and 20 of the September 1945 Survey (corrections for p. 19: March 1944 indexes—building materials and hardware stores, 143.6; jewelry stores, 460.7; June 1944 index for apparel
stores, 203.0; 1940 dollar figures, all retail stores—January 3, 198; February, 3,108); except as given in this table or indicated in footnote 1 thereto, data for 1929,1933, and 1935-42 are
correct as published on pp. 7 and 11-14 of the Noveniber~1943 Survey. Data have been revised beginning January 1945, largely to adjust the estimates to sales tax data for 1945; revisions for January-April 1945 are shown on p. 24 of the August 1946 Survey (data beginning May 1945 were revised in the July 1946 issue).
SURVEY OF CURRENT BUSINESS
S-8
1945
1946
Unless otherwise stated, statistics through 1941
and descriptive notes may be found in the Novem- Novem- Decem1942 Supplement to the Surrey
ber
ber
ber
January 1947
1946
January
February
March
April
May
June
July
August September
October
DOMESTIC TRADE—Continued
RETAIL TRADE—Continued
All retail stores!— Continued.
Estimated sales—Continued
Nondurable goods stores—Continued
1,196
874
General merchandise group
mil. of dol-1,577
1,489
1,193
1,154
1,118
1,022
1,207
1,357
1,203
Department, including mail order
do
810
1,017
566
1,017
588
762
791
640
748
'910
754
788
809
General, including general merchandise with
130
152
111
110
food.
mil. of dol-128
141
155
140
134
140
148
139
154
120
173
90
Other general mdse. and dry goods
_-do
92
110
119
146
119
120
112
126
124
142
137
110
235
125
132
171
104
Variety
do
144
134
131
146
131
151
779
790
842
844
918
993
793
841
773
Other retail stores
do
822
859
817
'903
207
238
242
210
208
198
250
207
Feed and farm supply
--do
203
232
219
205
218
178
151
114
152
128
118
89
168
Fuel and ice
do
195
125
134
136
156
137
149
153
176
153
146
159
225
150
135
Liquors
-do
163
144
'160
258
302
335
321
331
294
315
402
Other
do
260
344
333
Indexes of sales:
227.2
260.1
206.5
215.2
225.9
282.2
Unadjusted, combined index.
1935-39=100.240.2
242.3
235.2
' 269.0
252.6
266.8
242.4
149.8
168.1
137.6
143.2
157.2
238.6
Durable goods stores
do
179.0
214.1
200.1
200.0
' 232.6
228.1
199.7
252.4
290.1
228.9
238.7
248.3
296.4
Nondurable goods stores
do
260.2
256.1
246.7
265.2
279.4
280.8
256.3
220.1
216.8
237.6
243.3
241.6
273.1
Adjusted, combined index
do
236.2
238.7
247.5
261.4
256.5
' 260. 3
236.9
156.5
153.6
168.3
172.6
170.1
Index eliminating price changes
do
159.9
164.7
162.6
158.2
163.4
156.6
'' 156.0
163.8
142.5
141.1
166.1
172.0
173.5
229.2
180.2
Durable goods stores-do.
189.8
201.0
214.9
221.4
' 225.6
187.0
80.7
72.9
88.5
87.7
89.6
172.0
108.0
Automotive
do_
122.4
134.6
152.3
' 172. 2
129.0
159.4
190.2
199.8
247.4
262.1
257.8
256.0
246.3
Building materials and hardware.
.-do
235.6
250.2
263.7
233.0
256.1
249.9
223.9
225.2
248.0
260.0
265.7
342.0
260.7
Homefurnishings
do_296.9
298.4
304.7
262.5
329.6
329.6
375.5
379.1
394.7
412.3
429.2
388.5
445.4
Jewelry
-_do._
397.8
417.5
409.9
402.4
421.9
387.3
245.4
241.5
260.9
266.6
263.8
287.4
254.4
Nondurable goods stores
-do._
254. 7
262.6
276.5
253.2
267.9
271.6
279.7
251.1
289.3
317.7
320.8
295.3
284.5
290.2
291.5
Apparel
do__
269.1
331.3
299.8
285.0
224.4
249.5
240.6
243.2
242.8
260.4
246.3
251.0
240.4
Drug
do—
247.3
242.4
242.0
249.1
397.6
376.6
418.9
415.8
401.0
421.9
389.1
392.3
387.6
Eating and drinking places
-__do__
389.5
382.2
295.5
408.6
235.6
240.8
252.0
246.4
244.6
296.4
245.3
239.3
251.9
Food
-de248.9
271.5
262.6
274.5
134.9
140.2
164.9
164.5
155.4
163.3
144.2
139.0
140.6
Filling stations
_do—
139.8
147.2
146.9
157.5
200.0
191.6
209.4
225.0
232.6
242.3
222.1
232.9
237.2
General merchandise.
do_.
222.3
253.4
237.9
230. 4
278.7
276.0
292.2
303.2
288.1
320.3
275.4
268.8
299.1
Other retail stores
do.-.
271.5
297.4
294.1
'
297. 8
6,826
5,825
5,974
6,229
6,542
v 9, 540
6,771
7,114
7,439
Estimated inventories, total*
mil. of dol
8,055
' 9,136
8,487
1,892
1,620
1,714
1,864
2,016
* 3,182
2,039
2,186
2,319
Durable goods stores*
do__.
2,101
2,477
2, 682
'
2, 950
4,934
4,205
r
4,260
4,365
4,526
» 6, 358
4,732
4,928
5,120
Nondurable goods stores*
do._
4,881
5,578
5,805
6,186
Chain stores and mail-order houses:
1, 557
1,911
1,415
1,375
Sales, estimated, total*
-.do...
1,651
2,037
1,679
1,650
1, 715
1,599
1,913
1, 866
33
41
Automotive parts and accessories*
do
35
32
38
49
41
44
42
43
45
46
48
59
43
55
58
Building materials*
do
52
61
64
68
64
74
64
75
72
21
25
20
Furniture and housefurnishings*
do
27
15
17
21
23
22
22
21
27
23
211
265
162
Apparel group*..
do
161
228
250
235
224
213
208
171
233
205
36
41
24
25
Men's wear*
do
34
38
48
34
36
39
24
46
33
101
133
Women's wear*
-do
81
83
123
103
121
105
96 F 103
84
100
96
56
69
41
43
68
63
53
Shoes*
----do
65
60
67
50
59
63
61
91
65
72
62
61
65
Drug*
do
68
68
66
67
70
70
46
49
48
51
44
50
Eating and drinking*
do
48
49
48
50
50
51
53
511
447
Grocery and combination*
do
464
442
482
504
467
490
479
486
650
618
542
445
601
General merchandise group*
do
449
492
339
337
465
425
594
439
446
502
571
Department, dry goods, and general merchan245
324
259
dise*
mil. of dol.
175
259
242
176
237
254
331
278
324
286
73
65
63
59
77
61
59
65
84
Mail-order (catalog sales)*
do
104
91
104
79
114
119
124
203
95
116
113
Variety*
do
90
108
147
113
131
126
Indexes of sales:
212.4
250. 2
220.0
198.0
213.3
189.6
226.4
268.3
Unadjusted, combined index*
1935-39=100.234.1
244.2
250.1
212.9
220.8
216.9
201.9
198.1
225.8
230.8
254.9
223.4
218.0
Adjusted, combined index*
do
254.0
237.2
238.3
230.6
218.6
227.2
191.2
207.0
287.9
224.4
240.0
227.0
229.7
251.3
Automotive parts and accessories*
do
234.5
237.8
224.9
216.0
224.0
202.3
195.4
208.9
270.1
251.1
243. 8
239.5
211.3
Building materials*
do—
234.5
233.3
225.4
225.8
197.8
165.3
166.1
215.7
206.0
204.4
204.1
182.3
193.9
Furniture and housefurnishings*
do
201.3
202.0
232.4
225.5
254.1
280.9
263.0
234.6
273. 7
315.4
328.2
298.6
272.9
Apparel group*..
--do
330.0
284.8
270.5
278.1
253.7
286.0
224.4
187.9
283.4
241.1
264.6
215.0
231.2
360.5
Men's wear*
do
321.6
240.5
250.8
333.6
336. 3
339. 0
305. 6
337.4
414.8
471.8
399.2
380.3
379.3
Women's wear*—
do
358. 5
357.9
343. 2
173.3
226.6
206. 7
212.1
190.8
258.6
219.2
245.0
186.8
268.0
Shoes*
do
191.0
199.1
230.2
225.9
239. 0
226.8
206.5
228.1
220.0
216.1
211.5
221.1
232.5
Drug*
do
226.1
229.6
225.3
210.3
218.2
212.5
196.2
185.5
21M. 5
208. 4
209.8
206.6
222.1
Eating and drinking*
do
209.5
216.5
224.3
217.4
283.1
245.8
206.9
214.6
217. 9
217.4
222.9
213.2
213.3
226.8
267.4
Grocery and combination*
do
243.9
222.6
249. 4
241.5
194.6
179.8
222.3
241.5
222.3
222.2
224.8
242.0
259.4
General merchandise group*
do
244.9
Department, dry goods, and general merchan261.4
224.8
207.2
251.1
254.2
251. 0
262.5
272.6
283.9
289.6
300.9
283.0
dise*
1935-39=100-279.8
184.4
149.4
127.9
222.8
208.0
212. 9
196.7
243.4
222.5
221.3
259.3
202.5
Mail-order*
do—
250.5
184.1
172.2
183.0
163.8
177.3
180.1
193.5
181.8
189.3
203.4
197.0
199.3
Variety*
do
188.6
Department stores:
Accounts receivable:
•
45
41
48
45
45
55
62
44
43
50
Instalment accounts§
1941 average=100-45
46
129
113
145
108
126
156
100
145
Open accounts!
do..
133
119
127
114
Ratio of collections to accounts receivable:
40
32
31
35
37
36
35
37
34
Instalment accounts§
percent-34
32
33
35
67
61
60
63
59
61
64
60
Open accounts§
do
62
56
57
59
60
179
207
255
•"274
352
238
278
*336
Sales, unadjusted, total U. S.f
1935-39=100-248
278
208
242
253
246
292
336
466
315
372
348
Atlantaf
---do
417
313
374
275
321
'306
147
156
223
323
197
240
225
*>284
Boston f
do
211
237
157
216
184
167
193
242
320
226
268
254
234
268
Chicago!
do
» 316
198
245
236
167
194
253
338
237
265
264
243
251
Cleveland!
do
333
203
257
249
248
299
335
467
316
384
322
395
'351
434
290
313
332
Dallasf
do
199
238
273
366
255
312
272
311
v340
286
239
265
279
Kansas Cityf
do
158
182
234
305
223
'281
242
287
302
204
'242
236
232
Minneapolis!
do
155
174
219
307
206
202
214
214
158
301
221
235
189
New Yorkf
do
158
174
228
S27
219
259
222
246
175
319
228
195
255
Philadelphia!
do—
r
197
227
281
399
264
312
274
316
219
369
266
253
326
Richmond!
do
192
236
281
365
264
313
272
316
234
274
284
*
371
303
St. Louis!
do—
214
253
287
407
258
330
284
326
266
288
292
*378
•"320
San
Francisco
do
r
Revised. JMinor revisions in the figures prior to November 1941 are available on request. » Preliminary.
•New series. Revised 1940-43 dollar figures and indexes for total chain store sales and furniture and house furnishings, 1942-43 indexes for all series in the general merchandise group
except mail-order, and scattered revisions in the 1942 or 1943 data for a few other series are available on p. 20 of the September 1945 Survey. Except as given on that page, data for 1929,
1933, and 1935 to March 1943 are correct as published on pp. 15 to 17 of the February 1944 Survey. Data for grocery and combination stores and the total (dollar figures and indexes;
have been revised beginning January 1945; revisions for January-April 1945 are shown on p. 24 of the August 1946 Survey. Data beginning 1939 for the estimates of retail inventories will be published later; data shown in the Survey beginning with the June 1944 issue are comparable with estimates published currently.
!Revised series. See note marked "f" on p. S-7 for sources of data through June 1944 for sales of all retail stores; and revised figures for January-April 1945. The indexes of department store sales for the United States and the indicated districts have been revised for all years. The revised Boston index is from the Board of Governors of the Federal Reserve
System. Revised data beginning 1919 or 1923 for the United States, Dallas, and Richmond are published, respectively, on p. 17 of December 1944 Survey, p. 20 of February 1944, and
p. 22 of June 1944 issue (further revisions in the 1943-44 data for Richmond and the 1942-43 data for the United States are in footnotes on p. S-8 of the March 1946 and April 1946 issues).
Complete data for other districts will be published later (see also note in April 1946 issue regarding recent revisions in the New York and St. Louis indexes). The adjusted indexes for
Kansas
City, Cleveland and Atlanta have recently been revised beginning 1938; these three series are shown on the revised basis beginning respectively, in the June 1946, September
1946, and the October 1946 issues.
SUEVEY OF CUREENT BUSINESS
January 1947
1945
1946
Unless otherwise stated, statistics through 1941
and descriptive notes may be found in the Novem- Novem- Decem1942 Supplement to the Surrey
ber
ber
ber
S-9
1946
January
February
March
April
May
June
July
August
Septem- October
ber
DOMESTIC 'TRADE—Continued
RETAIL TRADE—Continued.
Department stores—Continued,
*>273
222
Sales, adjusted, total U. S.f
1935-39-= 100..
290
348
Atlantat
do....
183
Bostonf
do
?230
P259
208
Chicagof
_
do
212
266
Cleveland!
do
288
356
Dallasf
do—_.
238
Kansas Cityf
.
..do
*283
252
203
Minneapolis!
do
233
182
New Yorkf
do.._.
253
202
Philadelphia!
do....
290
••256
Rlchmondf
do.__.
St. Louisf
do.—
v 294
'241
P321
San Francisco
.
...do
'272
Sales by type of credit:*
57
63
Cash sales
—..
percent of total sales33
38
Charge account sales
do
5
4
Instalment sales
do
Stocks, total U. 8., end of monthrf
277
179
Unadjusted
1935-39 -100..
255
165
Adjusted
do
Other stores, ratio of collections to accounts receivable,
instalment accounts:*
28
27
Furniture stores.
percent..
48
51
Household appliance stores
_
do
34
35
Jewelry stores.... ..__
do
Mail-order and store sales:
Total sales, 2 companies
thous. of dol_. 281,422 196,052
Montgomery Ward & Co
do
1C6,355
77,013
Sears, Roebuck & Co
_.
do
175,067 119,040
Rural sales of general merchandise:
376.9
275.7
Total U. 8., unadjusted
1929-31=100..
East
do
279.3
372.7
South
_
_
do
396.3
552 2
313.2
230.0
Middle West.—
do....
317.2
439.0
Far West
do
Total U. 8., adjusted
.
do_...
211.9
289.7
216.7
223. 9
East
-.-»
do
South
...
do
288-7
402.1
175.4
238.9
Middle West-__...
do....
Far West
_
do
261.5
361.9
218
297
188
206
218
287
244
199
179
184
237
239
256
227
308
186
209
220
306
249
212
194
205
262
234
269
251
331
200
241
236
339
261
236
210
221
283
281
300
260
328
218
243
246
336
275
246
232
244
294
286
297
252
327
210
237
244
352
273
224
219
224
276
267
291
258
329
213
234
256
342
289
252
226
232
276
277
305
275
365
232
253
273
368
288
248
240
253
303
305
315
273
343
227
254
260
381
281
253
236
254
307
300
322
290
365
246
281
286
381
300
259
259
250
306
330
324
269
367
226
263
249
376
321
265
202
241
298
313
313
'254
177
'229
•"286
293
319
64
32
4
65
31
4
62
34
4
60
36
4
60
36
4
59
37
4
59
37
4
61
35
4
60
36
4
57
39
4
56
39
5
136
158
146
167
158
171
172
177
188
189
200
200
205
211
223
223
238
221
250
226
267
237
24
48
46
25
52
32
24
52
29
27
54
32
28
56
32
27
55
34
26
55
33
26
56
32
26
55
33
25
52
31
32
218, 216
83, 232
134,984
158,852
53,007
105, 846
150,292
55, 231
95,061
207,055
78, 454
128, 601
209, 843
80,073
129,770
211,418
85,065
126,353
201, 976
75,428
126, 548
194, 503
72, 667
121,836
232,811
91,864
140,946
242, 461
94,005
148, 456
283, 733
112,155
171, 578
267.8
246.0
370 2
226.0
330.1
167.5
147.7
246.5
144.9
202.2
208.7
209.3
300 4
177.1
220.1
274.2
275. 4
379.8
231.5
299,5
227.1
218.2
348. 1
195.3
222.7
280.7
266.7
381.7
245.7
300.9
303.4
313.2
449.1
261.9
280.3
345.5
348.8
497.4
295.6
340.6
283.7
277.0
374.1
243.6
321.7
308.7
290.6
424.6
260.8
360.2
233.8
217.6
311.2
199.4
283.2
254.7
237.1
366.9
210.5
315.0
243.4
236.6
322.4
210.0
294.1
267.2
257.7
401.0
222.4
308.6
214.8
189.5
300.4
188.3
263.5
294.2
266.1
442.4
255.1
321.4
288.0
268.0
394.0
253. 2
325.2
352.1
336.2
546.4
306.9
353.1
340.3
320.1
493.2
286.7
383. 5
321.9
325.6
446.8
279.7
327.7
345.1
324.6
493.8
293.2
384.9
265.6
260.0
333. 2
230.8
320.5
3.820
919
2,901
4,275
4,058
987
3,071
4,258
3.786
966
2,820
4,254
4,055
1,076
2,979
4,375
4,183
1,180
3,003
4,413
4,351
1,234
3,117
4,458
4,250
1,239
3,011
4,498
4,744
1,317
3,427
4,642
4,771
1,436
3,335
4,809
4,809
1,483
3,326
5,055
5,674
1,680
3,994
5,338
257
347
216
250
248
349
••297
WHOLESALE TRADE
Service and limited function wholesalers:*
Estimated sales, total
mil. of dol_.
Durable goods establishments
.
do
Nondurable goods establishments
.do
All wholesalers, estimated inventories*
do
5,262
1,600
3,662
5,738
3,889
954
2,935
4,196
EMPLOYMENT CONDITIONS AND WAGES
EMPLOYMENT
r
' 7,790
2,010
' 9, 220
6,170
' 5,240
' 4,470
3, 850
Armed forces*
._thous_.
' 3,070
' 3, 410
'2,710 ' 2, 4 5 0 ' 2,220
2,170
Estimated civilian labor force (Bureau of the Census):
56, 450 ' 57,160 ' 58, 930 ' 60, n o ' 59, 750 ' 59,120 ' 58, 990
Labor force, total
thous— 58, 970 ' 53,190 ' 53,130 ' 53, 320 ' 53, 890 ' 55,160
41,9£0 ' 35, 030 ' 36,950 ' 3 7 , 1 6 0 ' 37, 890 • 38, 870
Male
do
39, 860 ' 40,480 ' 41,660 ' 4 2 , 7 1 0 ' 42, 580 ' 41, 850 • 41, 820
17,180
16,160
16, 290
Female
..._
d o . - . . 17,020 T 18,160
16,000
16, 590
17, 270
17, 270
16, 680
17, 400
17,170
17,170
Employment
_«.
do..,. 57,040
hi, 410 ' 51,160 ' 5 1 , 0 2 0 ' 51, 240 • 52, 460
54,120 ' 54,850 ' 56, 360 ' 57, 840 ' 57,690 ' 57,050 • 57,030
Male
„
„
do
40, 4S0 ' 23, 820 ' 34,450 ' 35,390 ' 35, 750 •36,680 ' 37, 990 ' 38,590 ' 39,650 ' 40, 950 ' 40, 980 ' 40, 270 • 40, 270
Female
do
16,610
17,680
16,710
15,630
15, 490
16,710
16,890
15, 780
16, 260
16,780
16,130
16, 710
16, 760
r
Agricultural
„__„
do_._7, SCO
' 7,160
' 8, 380
' 6, 720
' 6, 940
' 7, 530
8,170
8,880 ' 10, 010
' 9, 970
' 9,140
' 8, 750
' 8, 620
Nonagricultural
do
49.140 ' 43, 070 ' 44, COO ' 44,300 ' 44, 300 • 44,930
45, 950 ' 45, 970 ' 46, 350 ' 47,870 ' 48, 550 ' 48, 300 • 48,410
r
Unemployment.-..
do
1,930
' 1, 740
'1,970
' 2,300
2,650
' 2, 700
2, 330
2,310
' 2, 570
2,270
' 2, 060
2,070
' 1, 960
Employees in nonagricultural establishments:!
Unadjusted (U. 8. Department of Labor):
40, 603
36, 779
37,463
37,013
39,265 ' 39,871 ' 40,129 • 40, 250
36, 509
Total
—_._„. .do
39,056
37, 469 38,121
38, 633
Manufacturing
„„.._
do
13, 206 13, 776
14, 982
13,1.10
13,059
13, 236
12, 536
13, 901
14, 098
14,244 ' 14.583 ' 14, 731 • 14, 761
Mining
_
._
do
826
793
802
810
801
505
815
808
'827
718
807
828
'825
Construction
.
...
...do....
1,684
1,014
1,042
1,132
1, 345
1,260
' 2,084
1,517
1,742
1,874
1,976
2,091
' 2,103
Transportation and public utilities.—
do
3,930
3,997
3,871
3, 896
3,897
3,907
3,919
3,917
3,962
' 3, 948
' 3, 988
3,873
' 4, 001
7,617
Trade
_
do
8,245
7,571
7,959
7,759
7,481
7,505
7,724
7,747
' 8,034
7,749
' 7,814
' 7,918
Financial, service, and miscellaneous
do...5,076
' 5, 208
5,260
4,845
4,936
4,984
5,031
5,140
5,134
5,131
5,152
' 5,155
5,160
5,494
Government.—
__..
.do
' 5,350
5,309
5,575
5,769
5,473
5,462
5,502
5,541
5,480
5,369
5,394
' 5, 447
Adjusted (Federal Reserve):
Total
__„
_.__do_— 40,315
36, 538
36,813
37,471
39,095 ' 39,690 ' 39, 882 • 40,036
37, 931 38, 335
38,947
37,016
38, 663
Manufacturing
do
13, 272 13,848
14, 761
14, 982
13,110
13,059
13, 236
13, 536
13,995
14, 098
14,174 '14,510 ' 14. 658
Mining
_
.do—801
822
789
798
814
812
508
717
811
815
824
'823
'821
Construction
do..._
1,926
984
1,085
1,230
1,385
1,462
1,597
1,837
1,882
1,708
' 1, 965
1,936
' 1, 948
8, 997
3,916
Transportation and public utilities..
do.—
3,871
3,956
3,987
3,939
3,873
3, 904
' 3, 942
' 3, 890
' 3, 968
3,878
7,966
7,335
7,315
7,673
Trade
.—..—.do
7.697
' 7,954
7,757
7,775
7,763
7,898
' 7, 998
' 7,973
7,788
'Revised.
»Preliminary.
*New series. For data beginning June 1943 for the series on department store credit, see p. S-9 ol August 1944 Survey; data beginning 1941 will be published later. Data beginning February 1941 for the collection ratios for furniture, jewelry, and household appliance stores are on p. S-8 of the April 1942 Survey; data back to January 1940 are available on
request. Annual estimates of wholesale sales beginning 1939 are available on p. 22 of the February 1945 Survey and p. 32 of the February 1946 issue and monthly figures beginning
June 1943 are on p. S-9 of the August 1944 and later issues; for estimates of wholesalers' inventories for 1938-42, see p 7 of the June 1942 Survey and p. 8-2 of the May 1943 issue. Estimates of the labor force have been revised beginning July 1945 to take account of improved estimates of the male population by age groups, to which the weighted sample results
are adjusted as a final step in the estimating procedure; earlier data are being revised also to take account of improved techniques introduced in July 1945 (see note in April 1946 Survey); revisions for July-October 1945 are available upon request; earlier revisions will be published when available.
f .Revised series. See note marked "f" on p. S-8 regarding revisions in the indexes of department store sales. The index of department store stocks has been completely revised;
revised data for 1919-45 are shown on p. 24 of August 1946 Survey. The estimates of employees in nonagricultural establishments have been revised back to 1929; data for 1929-43 for
the unadjusted series, except manufacturing and the total, and for 1929-42 for these two series, are available on p. 24 of the July 1945 Survey; the manufacturing series has recently
been revised beginning January 1943 to adjust the estimates to 1943-14 data from the Federal Security Agency and the total corrected accordingly; data for January 1943-June 1945 for
the unadjusted series and for January 1939-June 1945 for the adjusted series for manufacturing and the total will be published later. Data beginning March 1943 for the adjusted
series other than manufacturing and the total are correct as published in the June 1944 Survey and later issues; data beginning January 1939 will be shown later.
SURVEY OF CURRENT BUSINESS
S-10
1945
1946
Unless otherwise stated, statistics through 1941
and descriptive notes may he found in the Novem- Novem- Decem1942 Supplement to the Survey
ber
ber
ber
January 1947
1946
January
February
March
April
May
June
July
August Septcm-
October
EMPLOYMENT CONDITIONS AND WAGES—Continued
EMPLOYMENT—Continued
Estimated production workers in manufacturing industries, total (U. S. Dept. of Labor)*.....thousands.. 12,220
6, 204
Durable goods industries
-do..
1,472
Iron and steel and their products
do..
Blast furnaces, steel works, and rolling mills
thousands
570
Electrical machinery
do..
1,112
Machinery, except electrical
. do...
Machinery and machine-shop products d o . . .
Machine tools§
....
do.,.
Automobiles
do__.
Transportation equipment, exc. automobiles.do
446
Aircraft and parts (excluding engines)§
do.
Aircraft engines!
do
Shipbuilding and boatbuilding!.„
...do
408
Nonferrous metals and products
do.
639
Lumber and timber basic products...
..do.._.
Sawmills (incl. logging camps)
do
Furniture and finished lumber products
do
401
Furniture
-do
411
Stone, clay, and glass products..
do
6, 016
Nondurable goods industries
do
Textile-mill products and other fiber manufactures
thousands. _ 1,242
Cotton manufactures, except small wares—do
Silk and rayon goods
.
do
Woolen and worsted manufactures (except dyeing
and
finishing)
thousands._
Apparel and other finished textile products do
Men's clothing-—.
2
__._do
Women's clothing
...do
Leather and leather products
..do
352
Boots and shoes
_
.do
Food and kindred products
do.._._
Baking
.
.
do
Canning and preserving
do....
Slaughtering and meat packing
do__,_
Tobacco manufactures
...do
91
Paper and allied products...
.
do
380
Paper and p u l p . . . ,
...
.do
Printing, publishing, and allied industries
do
398
Newspapers and periodicals
do
Printing, book and job
.do
Chemicals and allied products...
do
500
Chemicals..
----do
Products of petroleum and c o a l . . .
_..do
152"
Petroleum refining
..do
241
Rubber products
do
Rubber tires and inner tubes
do
Production workers, unadjusted index, all manufacturing (U. S. Dept. of Labor) t
.
1939=100. 149.2
171. 8
Durable goods industries
_„
do
148. 4
Iron and steel and their products
do
Blast furnaces, steel works, and rolling mills
1939-100219. 9
Electrical machinery
do
210. 4
Machinery, except electrical
...do
Machinery and machine-shop products
do....
Machine tools §
_„_
do
185.2
Automobiles
do
281. 3
Transportation equipment, exc. automobiles.-do
Aircraft and parts (excluding engines)!
do
Aircraft engines!
do
Shipbuilding and boatbuilding!
„
do
178.1
Nonferrous metals and products.—
__..do___.
152.0
Lumber and timber basic products
do
Sawmills
.
.
do
122.1
Furniture and finished lumber products
do
Furniture
„
__._.do
139. 9
Stone, clay, and glass products
...
do
131. 3
Nondurable goods industries.
do
Textile-mill products and other fiber manufactures
108. 6
1939=100-.
Cotton manufactures, except small wares...do
Silk and rayon goods
do
Woolen and worsted manufactures (except dyeing
and
finishing)
_.
1939=100138.9
Apparel and other finished textile products do
Men's clothing
__..
. do—.
Women's clothing
_
do
101.4
Leather and leather products
do
Boots and shoes
do
~133~1
Food and kindred products
...
do
Baking
do
Canning and preserving
..do
Slaughtering and meat packing
do
10, 503
5,180
1,255
10, 519
5,097
1,294
10, 666
5, 205
1,308
9,989
4,417
843
10, 639
4,999
1,268
11,130
5, 474
1,334
11, 216
5,583
1,320
11, 412
5,713
1,351
432
479
931
325
52
525
573
121
27
286
319
484
193
321
136
313
5,323
446
484
914
325
53
388
536
121
22
265
326
499
197
336
143
320
5,422
449
476
G56
334
58
416
519
119
21
249
333
514
202
348
150
335
5,461
170
348
833
295
58
401
469
118
21
228
291
521
202
355
152
356
5,566
467
367
880
314
57
447
459
117
22
219
316
534
207
361
154
367
5,640
466
445
948
344
60
623
486
121
26
213
337
558
215
366
157
377
5,656
445
485
988
345
59
651
473
124
26
193
347
576
222
365
157
378
5,633
453
501
1,011
348
59
668
462
126
26
183
365
594
227
374
160
387
5,699
470
507
1,027
352
59
699
459
129
27
174
378
603
229
376
161
390
5,725
1,063
399
85
1,127
429
88
1,157
437
1,176
442
90
1,183
443
90
1,185
443
91
1,199
448
92
1,183
445
91
1,197
452
03
1,212
456
9°
143
930
177
203
321
174
1,085
254
125
133
83
326
148
347
120
143
487
111
138
95
194
91
1,113
424
87
148
938
177
204
330
178
1,078
253
107
148
82
335
153
355
122
146
488
113
140
95
203
96
149
958
181
207
338
382
1,051
254
93
153
81
341
157
359
122
149
489
115
142
98
209
99
154
993
187
214
348
187
1,045
253
90
151
81
348
160
367
125
153
115
142
96
214.
101
158
1,016
190
219
355
192
1,034
255
85
147
82
353
162
372
127
154
494
115
145
97
220
104
159
1,018
191
218
356
193
1,023
247
92
139
85
357
164
374
128
154
493
118
146
97
22b
159
1,013
192
213
356
193
1,009
239
95
136
85
359
165
375
129
153
481
117
145
98
221
105
160
1, 031
195
213
358
194
1,017
234
111
128
86
364
168
379
130
156
476
118
149
99
225
106
155
1,001
192
196
355
193
1,102
234
184
123
85
361
166
383
130
160
472
117
151
100
218
99
156
1,049
197
212
354
191
1,166
237
207
138
86
368
168
'384
131
' 158
475
117
152
100
227
103
128.2
143.5
126.6
128.4
141.2
130.5
130.2
144.1
131.9
121.9
122.6
85.0
129.9
138.4
127.9
135.9
151.6
1315
136.9
154.6
133.1
139.3
158. 2
136. 2
141.0
161.4
140.2
145.0
'166.2
144. 5
160
1,068
197
217
355
' 194
1.157
'241
244
95
87
368
168
' 386
182
160
4S4
117
152
100
280
104
146. 7
'168.6
146.9
111.1
184.9
172.4
160.7
142.4
130.5
361.3
305. 6
300. 3
413. 0
139.3
115.0
67.1
97.7
85.3
106.5
116.2
114.9
186. 9
172.9
160.5
145.6
96.4
338.0
304.1
246.2
3S2. 3
142.2
118.6
68.5
102.6
90.1
109.1
118.4
115.5
183.7
180.9
164.9
158.6
103.5
326 9
298.9
239. 7
359. 6
145.3
122.3
70. 0
106.0
94.0
114. 3
119.2
43,7
134.2
157. 2
145 8
159, 5
103. 0
294.4
296.2
239.0
328.7
126.8
124.0
70.2
108.1
95.4
121.4
121.4
120.3
141.5
106. 5
155.1
156. 4
111.2
289.3
294. 4
252. 2
315. 7
137.9
127.0
71.7
109.9
97.0
124.9
123.1
119.9
171.5
179.3
170.0
162. 3
154.8
306. 4
303.9
293.1
306.9
146.9
132.6
74.7
111.5
98.4
128.4
123.5
114.7
187.3
187.0
170.6
161.1
161.8
298.1
311.2
294 0
279.0
151.4
137.0
77.0
111.4
98.4
128.9
123.0
116.6
193.3
191.3
171.8
161. 9
166.1
290. 8
316. 3
292.3
264. 6
159.0
141.3
78.7
114.1
100. 6
132.0
124.4
120.9
195.8
194. 4
173.7
161.5
173.6
289.1
324.2
298.3
251. 2
165.0
143.4
79.5
114. 5
101.1
132.9
125.0
' 202. 8
199.0
176.2
167.5
' 180. 9
284.0
338.3
309.3
' 228. 6
171.0
' 149. 4
'82.2
118.1
103.9
137.8
128.4
123. 6
' 210.1
202. 5
179. 5
169. 2
'r 188. 9
278.1
351. 6
r
310. 5
' 204.1
172.9
' 149. 2
'80.9
118.2
103. 3
138. 7
129.4
92.9
100. 7
70.5
97.3
107.0
72.7
98.6
108. 3
73.0
101.2
110, 4
74.4
102.8
111.7
75.0
103.4
112.0
75.4
103.6
111.9
75.7
104.8
113.0
76.6
103.5
112.4
75.9
104.7
114.2
77.2
106.0
115.1
77.6
95.8
117.8
81.1
74.8
92.5
79.6
127.0
110.2
192.7
110.0
98.8
118.9
81.1
75.1
95.2
81.6
126.2
109.8
79.8
122.6
99.9
121. 0
82.6
76.3
97.4
83.5
123.0
110. 2
68.8
126.7
103.1
125.8
85.3
78.7
100.4
85.8
122.2
109.7
66 6
125. 5
105.9
128.6
86.8
80.4
102. 4
87.9
121.0
110.3
63.2
122.0
106.6
128.9
87.4
80.1
102.5
88.5
119.8
107.3
68.4
115. 2
106.7
128.3
87.8
78.2
102.6
88.4
118.1
103.5
70.4
112.9
107.3
130.6
89.4
78.3
103.1
89.1
119.0
101.5
82.8
106.5
103.9
12G.7
87.7
72.1
102.3
88.6
129. 0
101.4
136.8
102.4
104.4
132. 9
90 2
77.9
102.0
87.8
138. 5
102.7
153. 5
114.8
107.0
135.3
90. 2
79.7
102. 4
'88.8
135. 4
104.6
181.4
78.6
104
11. 554 •11.882
12,010
5,829 ' 6, 001 ' 6, 089
1,390
1,433
1, 450
480
480
r
526
' 544
1,070
1,051
363
357
62
61
'760
'728
-441
451
' 139
134
28
28
' 141
15S
396
392
'627
' 628
'233
r 237
388
388
164
165
407
404
' 5, 881 ' 5, 927
123.
6
' Revised.
§ For 1941-43 data for shipbuilding see p . 19 of December 1944 Survey; 1939-44 data for aircraft and aircraft engines are on p . 20 of the August 1&45 issue. For data for December
1941-July 1942 for machine tools, see note marked " t " on p. S-10 of tfhe November 1943 Survey.
• New series. Data beginning 1939 for the estimates of production workers for individual manufacturing industries will be shown later; data published in the Survey beginning
with the December 1942 issue, except as indicated in note marked " § " , are comparable with figures published currently. Data for 1929-43 for all manufacturing, total durable goods
and total nondurable goods industries, and the industry groups are shown on p. 22 of the December 1945 Survey, and revised data for January 1944—February 1945 are on p. 24 of
the July 1946 issue.
t Revised series. The indexes of production-worker employment and of production-worker pay rolls (pp. S-12 and S-13) have been completely revised; for 1939-41 data for the
individual industries (except as indicated in note marked "§") and 1939-40 data for the unadjusted series for all manufacturing, total durable goods and total nondurable goods industries, and the industry groups, see p p . 23-24 of the December 1942 Survey; for 1941 data for the totals and the industry groups see p . 28 of the March 1943 issue, for 1942-43, p .
20 of the October 1945 issue, and for January 1944-February 1945, p . 24 of the July 1946 issue; all revisions through February 1945 for the adjusted totals (p. S-ll) will be shown later.
SUEVEY OF CURRENT BUSINESS
January 1947
Unless otherwise stated, statistics through 1941
and descriptive notes may be found in the
1942 Supplement to the Survey
1946
1945
Novem- November
ber
S-ll
1946
December
January
February
March
April
May
June
July
I
August Septernber
Octobcr
EMPLOYMENT CONDITIONS AND WAGES—Continued
EMPLOYMENT -Continued
Production workers, index, unadjustedt~Continued.
Nondurable goods industries—Continued.
97. 1
Tobacco manufactures
.
__1939»=100_.
143.1
Paper and allied products
do___Paper and pulp
„
do
121. 4
Printing, publishing, and allied industries
do.-..
Newspapers and periodicals!
...do
Printing, book and job§
do..»_
Chemicals and allied products
do.....
173.5
Chemicals
do___.
Products of petroleum and coal.
do.._. ~143.G
Petroleum refining
do
Rubber products
,
do.-...
199. 2
Rubber tires and inner tubes
do
Production workers, adjusted index, all manufacturing
148.8
(Federal Reserve)t~~
—
1939-100..
171.7
Durable goods industries!
.
do
130.7
Nondurable goods industries!
-do
Noninanuiacturing, unadjusted (U. 8. Dept. of Labor):
Mining:!
Anthracite1939-100..
90.4
Bituminous coal
„_
. . . . do...
84.7
Metalliferous.
...do
Quarrying and nonmetallic
do..,..
Crude petroleum and natural gas!.
do
Public utilities:!
102. G
Electric light and power
_
do.......
130. 6
Street railways end busses.
do....
Telegraph _!._
_do._
Telephone.
do
Sjr vices :f
123. 5
Dyeing and cleaning.„_._.._.
... d o . . .
109. 3
Power laundries
„
...
_,__do
120. 0
Year-round hotels
,...do._..
Trade:
Retail, total!.
.._
do....
Food"
..........
...do....
General merchandising!.
_._do
112.3
Wholesale! „
..—do....
Water transportation*
„
do,_._
Miscellaneous employment data:
Federal and State highways, totalt
.number..
Construction (Federal and State)
. ..do....
Maintenance (State)
...do
Federal civilian employees:}
2,017
United States
._..._.._.
.thousands...
District of C o l u m b i a . . . . . . . . .
.do....
224
Railway employees (class I steam railways):
Total
.
..thousands.. v 1.412
Indexes: Unadjusted!
1935-39--=100.. v 135. 4
P 184. 2
Adjusted!.
____..-_„_..-...do
r
95. 8
• 140.2
122.0
- 120. 1
112.8
128. 9
• 170.5
169. 8
• 142.8
136.2
r
104.0
195.1
89.2
122.9
107.8
105.9
101.0
112.9
169.1
159.0
131.3
130.6
160.1
168.9
87.8
126. 3
111.4
108.1
102.7
115.5
169.2
162.2
132. 3
130,6
168.2
177.8
87.0
128.6
113.9
109.4
103.1
117.6
169.7
164.7
134.0
131.9
172.7
182.4
87.3
131.0
.116.3
112.1
105.3
120. 9
170. 3
166.1
130. 8
132.3
177.1
187.3
87.9
132.9
117. 9
113. 5
107.0
122.1
171.4
165.9
136. 7
133.1
181.5
191.6
90.8
134.5
119.3
114.2
108.1
122.2
170.9
169.6
138.2
133.7
182.0
192.8
91.2
135.3
120.0
114.3
109.0
121. 3
166.8
167.5
136.9
134.4
182. 7
193.4
92.1
137.3
121.9
115.7
109.4
123.8
165.1
169.0
140. 6
136.1
186.1
195.8
90.7
135.9
120. 9
116.8
109. 6
126. 3
163. 7
108. 4
M2. 7
137. 4
180. 2
183.1
91.7
137.8
122.1
' 117.0
110. 4
' 125.0
164. 9
168. 5
143. 4
137.4
187. 5
189.9
93. 5
138. 6
122.0
' 117.6
' 111.0
' 125. 8
167.9
167.6
143.8
137.0
190.1
192.2
127.8
143.3
115.6
128.1
141.2
117.8
130.7
144.4
119.8
122.4
122.9
122.0
130.3
138.6
123.7
136.6
151.6
124.7
138.0
154. 6
124. 8
139.6
158.1
125.0
140. 6
161. 2
124. 3
143.8
' 165. 9
126. 5
145. 9
168.5
128. 1
78.2
88.2
73.2
85.0
86.7
79.0
89.8
75.2
83.8
88.4
79.3
91.2
76,3
83.3
90.0
81.1
92.0
67.5
84.3
91.0
81.7
93.9
65.5
81.4
20.3
62.9
93.8
91.8
81.0
66.9
67.7
95.7
92.8
79.0
89.6
74.4
98.9
94.2
81.4
89. 5
78.0
101.2
95.4
82.0
'90.8
82.5
103.2
95. 5
82.2
' 90. 5
83.5
102. 4
' 94. 0
88.1
121 7
124.8
139. 4
90.7
122.7
126.4
143.0
92/9
123.7
112.4
146.3
94.7
125. 7
124.7
153.7
96.4
126, 1
123. 2
158.6
97.7
127.0
119.8
163.5
98.6
127.6
113.5
167.6
99.9
128.7
112.1
171. 7
101. 2
128. 9
112.4
177.7
101. 9
130. 2
111.9
181.1
101. 9
129. 9
112.0
181.0
T
120.6
106.7
116.5
119.9
107. 8
117.6
120.3
109.3
117.3
121.5
109. 0
118.7
124.3
109.6
119.3
130.3
110.0
118.9
129.6
110.7
119.9
131. 6
112.3
119.9
130. 0
113.6
119.1
124.5
111.6
119.3
125.6
109. 9
119. 5
r
106. 2
106.5
127.4
101.8
315.1
116.0
108.0
152. 5
104.1
315.7
104.1
106.6
116.8
104.7
314.8
104.3
106.8
114. 6
105.5
316. 9
106.0
106.9
118.6
106.6
297.8
109.0
106. 3
125.3
106. 7
275. 3
107.2
105. 0
121.9
106. 0
250. 6
107. 2
103.5
121.0
106.9
229.0
106.2
101. 3
117.7
107.5
228. 2
' 106. 6
103. 6
117.4
109.1
225.9
109. 8
103.5
125.4
109. 4
150,013 165, 762 1S4, 179 205,161
45, 084 59,001
21.000 31,871
97', 814 100,683 104, 445 110,537
225,184
73,7GG
114,717
145,068 139,964
24,894 16,674
93, 548 95,317
139,381 142, 074
14,908
16,277
95, 458 95,596
2,456
230
2,411
229
2,406
233
2.402
236
1, 435
137.9
136.8
1, 428
136.9
139.1
1,422
136. 5
142.0
1, 893
133,9
137.3
2,379
237
1.397
134.1
137.5
2,394
238
1, 375
131.9
134.0
2,360
236
2,299
235
2,282
235
1,334
128.1
128.6
1,358
' 130.4
' 128.6
1, 378
132. 2
129.5
0)
r
146.4
' 169.3
128.2
83. 2
' 90. 1
83.9
101. G
93.3
r
102. 0
'• 130. 3
110.3
181.6
r
r
126.1
101. 1
120. 5
' 112. 2
103.7
132. 1
r
110.7
i 199. 2
237, 001 236, 644 235,045
82,384
88,473 87,889
117, 543 110,940 110,363
2, 232
233
2,154
226
2,119
225
' 1, 400 v 1, 391 v 1,405
' 134. 3 v 133.5 v 1.34. 8
••131.6 v 130. 3 v 130.4
LABOR CONDITIONS
Average weekly hours per worker In manufacturing:
Natl. Indus. Conf. Bd. (25 industries)
...hours__
41.7
40.6
41.9
40.7
40.4
39. 2
39.3
40.0
40.0
40.1
40.7
U. 8. Dept. of Labor, ail manufacturmg!_,_____do_._.
41.6
41.0
41.2
40.5
40.7
40.5
39.7
40.0
M0. 4
39.7
40.5
40.3
Durable goods industries*..
._.___do__>
*>40. 3
40.8
41.4
41.1
40.6
40.4
39. 3
40. 0
'
40. 6
39.3
40.5
40.3
89.8
Iron and steel and their products'
do
41.1
42.1
42.5
40.0
39.9
39.1
38.4
38.5
39.9
39.7
40. 3
Blast furnaces, steel works, and rolling
mills*
,_„_ . . . . . .
...hours..
38.5
30.4
40.8
41.0
35.8
37.9
37.5
38.2
36.4
38.0
38.6
36.0
41.3
40.3
Electrical machinery*
...do....
41.8
41.5
38.9
40.3
40.2
40. 9
39.8
39.4
'40. 6
' 40.9
42.0
41.4
42.6
42.9
40.1
Machinery, except electrical*.-..
do
41.7
41.5
41.5
40.9
40.4
40.9
41.1
42.5
42.3
42,9
42.8
40.4
41.7
42.2
Machinery and machine-shop products*—do—..
41.6
41.2
40.7
41. 6
41.2
44.4
43.3
43.9
44,4
41.6
43.6
42.6
Machine tools*„_
. . . . . . . do
42.5
42.2
41.3
42.0
42.0
37.5
34.5
37.8
36.0
36.3
37 0
37.4
38.3
Automobiles*.-.-...____.
.do....
36.6
37.8
39.2
' 38. 6
40.0
39.0
37.4
39.7
39.1
40.0
39.9
39.9
Transportation equipment, excapt autos*. . d o . . . .
39.5
39.3
' 39. 7 ' 38. 8
41.1
40.8
39. 7
40.8
40.7
41. 0
41.3
40.5
Aircraft and parts (excluding engines) •_.._do
40.4
40.0
* 40. 7 M0. 6
40.9
42.1
37.6
40.3
41.3
4L.9
41.8
42.1
Aircraft engines*..._„
.do___.
41.6
40. 6
41.4
' 41. 9
38.8
37.3
35.0
88. 3
37.6
38.8
38,5
37.7
Shipbuilding and boatbuilding*...
..do
38.1
38.4
'38.0
' 35.7
43.3
43.2
43.2
43.3
41.1
42.2
41.8
40.9
Nonferrous metals aod products*
...___.do_._.
40.9
40.0
M0. 8
M0. 8
38.8
40.1
40.5
39.0
40.9
41.1
41.3
41.9
41.5
Lumber and timber basic products*..-__...do....
39.1
Ml.
8
41.4
41.8
42.3
42.0
42.5
41.3
42.5
42.3
42.2
41.8
Furniture and finished lumber products*...do....
41.0
41.9
41.8
40.7
41.1
42.0
41.9
40.2
41.6
41.3
40.4
Stone, clay, and glass products*.......
3Q.^«,
39.5
40.7
' 40. 5 T 40.5
41.2
40.9
41.3
41.5
40.1
40.9
40.6
40,2
40.2
Nondurable goods industries*.
do.... v 40. 1
40.1
40.5
40.3
Textile-mill products and other fiber manufactures*..
„.
___„ hours..
40.3
40.4
40.7
40.4
40.5
40.3
39.8 j 40.0
39.6
40.2
40.1
40.0
Apparel and other finished textile products*
hours,.
36.1
36.4
36.5
86.7
37.5
37.2
36.9
37.1
36.0
'37.0
36.9
36.8
Leather and leather products*
...do.....
3S.6
40.6
40.4
39.9
39.6
40.5
39.3
37.5
40.8
38.2
37.8
38.2
Food and kindred products*
.__>__
do
44,4
45.3
44.3
44.9
42.4
42.3
42.8
42.4
43.8
43.7
43. 0
42.9
Tobacco manufactures*
....do....
40 4
39.1
38,6
39.3
39.5
40.0
40.5
39.2
39.7
39.1
'38.6
' 39. 4
Paper and allied products®
....do
45,7
43.9
45.6
44.3
42.9
43.0
43.4
43.5
42.8
43.4
42.9
43.9
Printing and publishing and allied industries*
hours..
41.7
40.8 I
41.5
41.1
41.2
40. 4
41.0
40.5
40.2
' 41. 1
M0. 8
41.0
Chemicals and allied products*.
do
42.5
42.5
42.0
41.6
41.7 !
40.7
41.4
40.5
41.2
40.7
40.8
40.9
Products of petroleum and coal*
do....
44.0
42.9
41.7
40.8
41.6 !
40.0
39.3
39.6
40. 2
40.0
40.3
' 40.4
Rubber products*.
_do_...
40.2
40.9
41.7
40.8
40.3
40.8 1
39.4
39.3
39.2
39.4
40.6
39.3
' Revised. » ..Preliminary.
.. linary. § Data beginning August 1642 are available In the November 1943 Survey; earlier data will be published later.
i Beginning with October 1946, data relate to the end of the preceding month. Data for the week ending nearest September 15th arc not available.
jTotal Includes State engineering, supervisory and administrative employees not shown separately.
% United States totals beginning August 1945 include approximately 53,000 clerks at third-class post offices and substitute rural carriers not reported previously; see also note in
July 1944 Survey regarding changes in the data beginning in 1943. December figures do not; include excess temporary post office substitutes employed only at Christmas.
•New series. Indexes beginning 1939 for employment in retail food establishments and beginning 1940 for water transportation are shown on p. 31 of the June 1943 Survey. Data
beginning 1939 for all series on average hours will be published later; data beginning March 1944 for the aircraft engines industry and beginning March 1942 for other series are available
in previous issues of the Survey.
tRevised series. See note marked "f" on p. S-10 regarding revisions in the inedxes of employment in manufacturing industries and sources of revised data. Data for 1937-43 for
the index of employment and pay rolls in the telephone industry are on p. 20 of the May 1945 Survey and data for 1937-43 for the telegraph industry are on p. 23 of August 1946 issue;
data for 1939-41 for the other Department of Labor series on nonmanufacturing employment and pay rolls are on p. 31 of the June 1943 Survey. The index of railway employees has
been shown on a revised basis beginning in the May 1943 Survey; earlier revisions will be published later. Data beginning January 1942 for the series on average weekly hours in all
manufacturing industries are available in the March 1943 and subsequent issues of the Survey; revised data prior to 1942 have not been published in the Survey and will be shown in a
later Issue.
S-12
SURVEY OF CURRENT BUSINESS
Unless otherwise stated, statistics through 1941
and descriptive notes may be found in the
1943 Supplement to the Survey
Novem- Novem- December
ber
ber
1946
1945
January 1947
1946
January
February
March
April
May
June
July
August September
October
EMPLOYMENT CONDITIONS AND WAGES—Continued
LABOR CONDITIONS—Continued
Average weekly hours per worker in nonmanufacturing industries (U. S. Department of Labor):*
37.5
38.2
37.2
37.7
37.3
38.2
37.1
37.5
38.2
38.2
Building construction
. . . . __hours.
38.7
38.8
Mining:
36.4
41.0
39.6
41. 2
35.8
38.6
41.7
38,2
31.7
37.9
39.2
Anthracite
•
- ...
do
37.7
44.9
45.7
43.3
45.5
45.9
26.4
27.3
43.4
36.0
'42.8
42.9
Bituminous coal ._ __ _
do
'41.8
43.0
42.0
41 1
36.8
41.0
42.0
39.2
40.8
39.6
40.9
41 0
Metalliferous
do
M0 6
46.1
44.2
43.3
44.1
45.1
44.3
45.4
46.3
45.7
46.5
46.2
46.2
Quarrying and nonmetallic —
._„ do ._
43.9
41.0
41.1
40.7
40.8
40.7
40.7
39.5
40.4
40.9
41.2
40.5
Crude petroleum and natural gas
do
Public utilities:
42.7
42.4
42.0
41.6
41.3
42.7
41.6
40.9
41.5
41.6
41.9
41.0
Electric light and power
do
49.2
50.3
49.2
49.4
49.2
60.7
49.3
48.4
49.0
Street railways and busses
do
47.6
47.5
48.6
45.0
44.5
44.0
44.1
43.7
44.2
44.5
45.2
43.8
45.4
44.4
44.8
Telegraph
do____
42.1
41.1
40.1
40.7
40.2
39.5
39.4
39.3
39.7
39.3
38.5
39.1
Telephone
do
Services:
42.4
43.2
43.0
42.5
43.4
42 9
42 2
43.1
42.9
43.8
Dyeing and cleaning
_ _ do
44.0
42.6
42.7
43.3
43.6
43.3
43.5
43.1
43.4
43.3
43.5
42.9
43.0
43 0
Power laundries do _
Trade:
40.5
40.5
40.0
40.1
40.5
40.4
40.3
41.3
40.9
'41.3
40.9
40 0
Retail
- - - „>_do. __
42.3
42.0
41.8
41.9
41.9
41.7
41.4
41.4
41.8
41 8
41 9
41 7
Wholesale
do
Industrial disputes (strikes and lockouts): •
Beginning in month:
134
325
358
260
360
385
465
350
310
480
500
450
Work stoppages
number
450
420
50
1,400
130
••165
560
575
450
'175
185
235
Workers involved
- thousands
380
290
In effect during month:
367
500
490
715
619
655
845
570
700
800
Work stoppages
..
._
number820
770
750
504
1, 500
1, 750
1,200
660
925
1,100
410
620
Workers involved
thousands
400
535
450
365
6,935
7,718
19,400
23,000
11, 500
4,750
13,800
3,800
15,000
3,300
Man-days idle during month .do
3,425
5,000
4, 500
U S. Employment Service placement activities:
412
457
380
359
421
440
484
479
530
461
522
532
547
Nonagricultural placements!
thousands..
Unemployment compensation (Social Security Board):
1,234
1,120
774
745
946
i 620
779
761
699
980
C82
Initial claims*
thousands
541
580
6,502
6,564
8,258
7,327
7,464
6, 497
5,395
i 3,491
6,649
5,504
3,895
4,604
Continued claims©
do
4,141
Benefit payments:
1,624 r 1,621
1,319
1,592
1,315
1,313
1,174
1698
1,402
1,069
839
1764
Beneficiaries, weekly average
do
'980
Amount of payments .
thous. of dol _ i 54, 076 108, 555 106,624 133, 246 120,727 127,013 110,672 103,889 92, 982 88,480
78,047 ' 63, 216 i 64, 430
Veterans' unemployment allowances:*
426
567
908
801
741
1,030
405
602
657
690
602
449
413
Initial claims - . .
- thousands..
6,128
3,743
1,415
2,401
4,594
5,853
7,353
7. 685
7,690
6,982
7,828
7,147
4,900
Continued claims
do
2
1.071
405
695
2 877
218
1,507
1, 626 2 1, 783 2 1, 744 2 1,720 2 1, 650 2 1,304
Number receiving allowances, weekly average do__
1,019
25, 770 42, 217 83, 322 112, 195 148,958 160,071 155,175 150,063 152,648 -•148,016 124, 082 ' 100,380
74,421
Amount of payments
thous. of dol
Labor turn-over in manufacturing establishments:^
6.9
68
8.7
8.5
7.1
6.1
7.4
6.7
Accession rate
monthly rate per 100 emplovpes
6.7
6.7
7.0
'7.1
5.9
6.8
6.3
6.6
6.3
7.1
5.8
5.7
6.3
Separation rate, total
do
6.1
'6.9
6.6
.5
.4
.4
.5
.4
.5
.4
.3
.4
.4
.4
.4
Discharges
.
do
r
1,7
1.3
1.8
1.5
1.8
1.2
1.7
1.4
.6
1.0
1.0
Lay-offs
- -- --- - do
3.9
4.2
4.7
4.3
4.0
4.2
4.6
Quits
„
do
4.0
4.3
' 5.3
4.6
5.3
.2
.1
.2
.2
.2
.2
.2
.2
.2
.2
.2
.2
Military and miscellaneous
_do
PAY ROLLS
Production-workers pay rolls, unajdusted index, all
226.2
229.2
210.5
247.8
261.2
222.9
232.9
249.2
257.1
284.3
manufacturing (U. S. Dept. of Labor)!--1939-= 100..
278.2
286.0
199.6
266.6
240.0
241.8
236.8
280.7
267.3
Durable goods industries
. . .
do
318.2
243. 0
287.7 ' 306. 9 ' 314. 4
263.2
210.4
220.5
216.1
127.2
231.6
221.4
263. 2
211.7
231.3
238.1
Iron and steel and their products
do
255.8
B l a s t f u r n a c e s , steel w o r k s , a n d r o l l i n g
181.5
173. 6
173.2
191.8
181. 2
47.6
206. 3
203 2
193.3
175.8
182.0
204 0
mills
1939=100
301.9
308.5
302. 6
224.1
311.5
211.1
286.1
338.3 ' 365.1 ' 385. 2
333.9
395.7
Electrical machinery
_
do
362. 2
283.3
288.7
297.5
255. 3
277.9
301.6
310.8
329.5
333.5
373.5
348 8
Machinery except electrical
do
263.4
265.4
239.4
283. 5
272.8
296.4
258.0
' 322. 3
299.4
290.1
314.2
333.5
Machinery and machine-shop products
do
258.2
244.5
259.6
262. 3
270.4
285.5
233.0
261.4
262.3
291.9
281 4
Machine toolsj
do
256.8
192.2
135.
5
142.4
232.7
153.
5
282.2
166.9
241.7
250.
5
'
319.
5
'
307.
4
308.7
Automobiles
do
r
538.3
583.5
491.5
577.2
559.1
538. 5
507. 0
558.1
537. 5
£08. 3
523. 9
533.0
Transportation equipment, except autos
do
565.9
520.4
506.6
514.3
585. 5
520.7
524.0
553. 2
605.6
663. 9
672. 6
640.8
Aircraft and parts (excluding engines) J
do
469.2
346 3
469.4
356.6
369,1
389.7
384.4
457. 8
' £07. 8
530.2
468.9
498.3
Aircraft enginest
do
' 352. 5
361.2
421.5
637. 9
641.2
602. 5
530. 4
548.5
555. 2
498.5
483.4
468.8
Shipbuilding and boatbuilding
do.
243. 5
250. 4
250. 1
228.7
247.8
292.9
'319.6
326. 3
287.8
312.4
Nonferrous metals and products
do
2R4.9
271.4
199.4
219.9
207.7
234.5
270.8
313.5
194.8
281.0
307.1
Lumber and timber basic roducts
do
'
306.
9
248.2
261.8
168. 9
' 1(8.1
114.1
118.2
123. 0
131. 9
139 8
147.2
158.1
151.7
114.0
170.8
Sawmills (incl logging camps)
do
243.4
212.3
200.4
252. 7
188.1
192.9
223.5
173.2
209.0
222.1
214.6
239.3
Furniture and finished lumber products
do
188.3
212.1
164.3
169.3
196.2
151.1
184.3
189. 7
194.2
176.7
220.3
Furniture
do
209.7
259. 8
181.7
185 4
204 6
217.2
224.1
235.0
175.9
235.7
253. 2
264.0
Stone clay, and glass products
do
226.0
' 254. 6
254. 6
250.2
204.5
212.7
215.7
221.3
229.2
231.4
229.4
234.0
235.4
Nondurable goods industries
do
242.9
190.7
214.8
237. 2
188.0
214.7
174.8
203.7
215.8
218.6
212.6
231.0
Textile-mill products and other fiber mfrs
do
217.0
244.3
281.7
285.4
216. 2
246.1
230.0
246.3
248.2
199. 9
275. 5
242.3
Cotton manufactures, exc. small wares
do
149.4
166.9
180.9
148.8
166.3
189. 3
158.3
166.5
166.8
181.4
142.0
163.6
Silk and rayon goods
do
Woolen and worsted manufactures (except dyeing
206.6
200.0
226.9
234.2
242.7
237.7
238.5
234.1
243.7
228.6
184.0
238.5
and
flnishoing)
1939»100_228.0
288.2
215.0
240.2
263.6
258.8
263.3
208.0
263.5
244.7
288.9
277.5
Apparel and t ther finished textile products
do
186. 8
136.9
148.0
174.1
175.6
181.2
140.7
158.1
170.0
166.8
189. 4
182.7
Men's clohing
.
_. _ -do
176.0
170.5
169. 8
136.4
140.9
149.4
153.3
172.6
169.6
163.1
159.0
141.3
Women's clothing
do
203.3
198.1
179.2
185. 2
194.5
202.1
203.1
203.4
197.3
198.2
165.3
203.9
Leather and leather products
_
_
do
182.4
175. 4
175. 4
145.7
157.1
164.0
174.1
182.7
185.3
184.6
183.0
177.6
Boots and shoes
. . do
242.7
228.6
250.3
214.9
220.4
215.0
211 5
206.6
205.4
201.9
205.0
231.5
Food and kindred products
do
187.5
ISO. 8
184.1
181.4
181.2
180.1
182.8
179 3
170.8
168.8
178.5
181.2
Baking
do
465. 4
323. 8
387.4
179.4
167.3
144 1
136 6
132.1
149.2
149.8
181.9
325.8
Canning and preserving
do
118.2
110.5
185. 2
217.9
199.4
191.1
181.4
167.4
179. 9
202. 3
214.9
1809
Slaughtering and meat packing
_
do
196. 0
208.7
186.2
172.2
164.1
166.7
165.2
171.3
174 6
181.1
184.1
178.3
Tobacco manufactures
_do
265.8
257.1
253. 9
211.0
219.0
221.7
226.2
233.3
235.9
237.4
244.4
243.8
Paper and allied products
do
228.0
234.9
227.8
196.6
198.
4
203.6
208.1
209.9
212.7
216.7
218.4
190.0
Paper and pulp
do
179.5
' 195. 2
200.3
163.2
165 7
184.2
186.0
190.5
158 5
171.2
177 2
178.9
Printing publishing, and allied industries..„.do
162.0
178.9
143.5
160. 9
168. 8
'175.6
138.3
HI 9
163.7
157. 8
Newspapers and periodicals*
do
148.9
154.4
'215.4
220.4
184.7
188.8
193.9
197.0
204.6
' 210. 4
178.1
200.2
199.9
209.1
Printing, book and job*
.__do
' Revised. JSee note marked " § " on p. S-10. ©Small revisions in the data for January 1940 to May 1944 are available on request. P a r t l y estimated.
i Continued claims filed during week ended the last Saturday of the month; average number receiving payment has been discontinued:
• 1946 data are preliminary estimates. The series for "in effect during the month" continue data published in the Survey through the July 1944 issue. They include data for
stoppages beginning in the month and those continuing from previous months; data for 1944-45 are shown on p. 23 of the December 1946 Survey.
cfRates refer to ail employes rather than to wage earners and are therefore not strictly comparable with data prior to 1943 published in the Survey.
•New series. Data on average hours for the telephone industry for 1937-43 are on p. 20 of the May 1945 Survey (see note for hours and earnings in the telephone industry at the
bottom of p. S-13 of April 1946 Survey regarding a change in this series in April 1945) and data for the telegraph industry beginning June 1943 (the earliest available) are given in note on
p. S-ll of the January 1945 issue; data beginning March 1942 for all other series on average hours are available in the May 1943 Survey and data back to 1939 will be published later.
The new series on veterans' unemployment allowances relate to readjustment allowances payable under the Servicemen's Readjustment Act of 1944; data beginning September 1944
will be shown later. Indexes of pay rolls for the printing and publishing subgroups beginning August 1942 are on p. S-12 of the November 1943 Survey; data back to 1939 will be
published later. Data beginning 1939 for initial unemployment compensation claims will be shown later (see note in April 1946 Survey tor definition of initial claims).
fRevised series. Data beginning June 1942 for nonagriculturai placements are available in the August 1943 Survey; earlier data will be published later. For information regarding
the revised indexes of production-worker pay rolls in manufacturing industries, see note marked " t " on p. S-10,
http://fraser.stlouisfed.org/
Federal Reserve Bank of St. Louis
SUEVEY OF CURRENT BUSINESS
January 1947
Unless otherwise stated, statistics through 1941
and descriptive notes m a y be found i n the
1942 S u p p l e m e n t to the Survey
1946
1945
S-13
1946
Novem- Novem- December
ber
ber
January
February
March
April
May
June
July
August
September
October
EMPLOYMENT CONDITIONS AND WAGES—Continued
PAY ROLLS—Continued
Production-w orker pay rolls, mfg., unad).!—Con.
Nondurable goods industries—Continued.
Chemicals and allied products
1939*= 100._
Chemicals
do
Products of petroleum and coal
do _
Petroleum refining
do
Rubber products
do
Rubber tires pnd inner tubes
do
Nonmanufacturing, unadjusted (U. S. Dept. of Labor):
Mlllllif: f
AnibracUt_ _ _ _ _ 1939*= 100.
B i t u m i n o u s coal
do
Metalliferous
. . .
do
Quarrying end nonmetallic
do
Crude petroleum «Bd natural gas!
do
P u b l i c utilities:!
Electric light and power
.
do
Street railwBVf and busses
do
Te!epraj>h
do
Telephone
do
Services:!
P)yeing and cleaning
do
Power laundries
do
Year-re u o d hotels
do
Trnri. :
Retail, t o t a l ! .
__...____-..._„,
do
Food*
do
General merchandising!
_
do .
"A holpvnlot
. - ..
.
do.
Wafer transportation*
do
281.8
260.8
222.9
215 5
257. 8
240.2
283.4
267.0
222.2
212 6
275.5
256. 7
285.2
276.8
220.9
210 6
290.1
272.6
284.7
272. 5
221.3
217 4
292.1
271,9
290.0
276 3
231.0
217 9
302.8
281.1
291.2
282.7
232.7
221 3
324.9
312.9
283.8
277.8
228.2
221 5
327.6
314.2
285.1
283.0
236.0
223 3
337.2
318.3
286.9
289.2
244.3
228.0
327.2
304.3
290. 5
288.0
246.3
228.7
343.2
311.2
298.3
289. 6
250. 3
232 7
365. 0
340.5
303. 5
294.0
245. 8
228.2
357.3
329.9
144. 6
212.8
117.2
163. 2
140.0
1C7.1
222.0
117.6
155. 0
135.9
149.3
209.9
118.0
150.9
139.0
178.3
222.8
92.8
157.2
142.0
178.5
230.9
102 1
172.6
144.4
165.1
26.0
102.0
192.5
144.0
180.4
97.4
106. 4
189. 9
145.4
182.7
243.8
126.9
207.7
147.1
156. 5
198.4
132.4
213.6
151.3
193.3
••241.0
145.2
225.1
152.6
194.0
234. 9
147.0
22'.). 7
149. 6
199.9
237.1
148.0
226.2
154. 7
126.7
179 1
177 9
200. 3
129.8
184.0
178. 8
203. 5
133.7
181.4
155.3
205.2
138.3
187.2
176.9
230. 7
140.4
187 2
177.1
237.0
142.5
191.4
179.5
246.1
144.2
195. 2
175. 6
254. 0
148.4
199. 5
174.9
259.9
150.2
206.7
178.6
268.8
152.4
211.2
178.5
267.6
153. 3
207 9
177.3
205. 0
155.3
212.6
227.0
186. 2
204.6
236. 6
190.9
205.0
231.3
193.3
204.9
216.9
188.4
208.9
r 225. 6
188.7
T
209.5
225. 7
189.8
214. 3
269. 2
193.5
168 9
190.6
196.9
174. 3
196.1
201. 7
178.7
196.4
199 1
177.0
199.8
213 4
181 3
201.1
231.0
183. 3
201.1
151.9
154 9
172.4
155.2
582.1
167.6
159. 5
209. 2
] 59. 2
5S3.1
154. 9
159. 7
165.8
161.2
575.3
157.1
161. 7
165 5
165. 0
577.3
160 9
163 9
178 3
167. 5
550.6
167.8
105.7
186.2
169. 8
509,0
166. 2
1G6. 1
180.5
169,6
486. 3
171.3
170.0
188.8
172.6
467. 4
172.6
171.5
187.1
174.5
490.1
174.6
r 177. 2
188.1
177.3
478. 8
180.9
17)15
199 0
182.8
(0
182.5
174.6
201. 7
•184.5
i 422. G
45.
40.
43.
45.
42
77
71
F\
4f>. 72
41.21
44. 08
46. 38
44. 62
41.15
43.67
44.95
43. 56
40. 58
42. 57
42. 45
46. 44
42. 15
44. 79
46.80
46. 92
42.88
45. 71
47.28
46. 16
42. 51
45.10
45. 74
47.20
43. 3!
40. 32
46.74
47. 04
43.38
46. 24
46.80
48. 74
* 44.99
' 48. 02
48. 78
'49.14
45.41
r 48.40
49. 31
50. 06
'45.68
48.83
49. 85
46.81
42. 98
47. 90
47. 58
52. 35
45 99
46. 56
46. 98
44.91
45. 56
45. 71
31.98
30 69
35.44
36. 21
38.95
37.89
47 33
43 58
48 63
47. 98
53. 80
43. 89
49.18
48. 40
48. 67
49. 44
46 08
31. 78
30. 15
36. 50
37.21
39. 33
38. 52
44. 93
43. 52
47.84
47.81
53.07
46 19
49. 29
48.84
51.48
49. 44
46, 13
32. 15
30. 58
36. 07
36. 56
38. 33
38. 75
36. 75
41.49
47. 53
47.91
52.19
43 01
48 09
49. 9.1
53. 43
47. 61
47 13
33 52
31.91
30 86
37. 46
39 76
39.01
48.93
41.81
48.82
48. 29
52. 92
46 75
50. 51
/50. 53
52. 80
51. 32
4^>. 92
34.88
33.47
37.78
38.46
40. 98
39. 83
48. 57
44. 03
48. 94
49.26
51.92
48.72
52. 50
51.68
54.08
53.43
47. 29
35. 34
34. 02
38.21
39.16
41.47
40.13
46.16
43. 99
48. 32
47.86
52. 01
48. 05
52. 09
51. 63
55. 26
52.79
47.18
36.01
34. 71
37.88
38.87
41.00
39. 93
46.98
45, 72
50.04
49.70
53. 86
49.32
53. 82
52. 55
55 91
53.99
47.61
37. 62
36.56
38.73
39. 31
42.01
40.28
47.85
45. 59
49. 76
49. 49
52.44
51.15
53. 70
53. 01
54. 72
55. 20
46.68
35. 60
34. 66
38.37
38.80
41.80
40.46
49. 84
' 47. 49
r 50. 99
r 51. 15
54. 07
r
53. 80
' 54. 91
r 53. 85
56. 08
' 54. 41
' 48. 00
' 38. 78
r 37. 75
«• 40. 09
40.85
r 43. 23
41.89
50. 28
r48.41
r 51. 74
r 51.05
54. 31
r
53 65
* 52. 59
' 5(>! 93
r
50. G3
r
48. 61
r 38. 73
' 37. 69
r 40. 82
41.58
M l . 08
42. 34
50. 43
48. 50
52. 47
51.91
55. 64
52 80
54 22
53*. 52
57. 46
54. 01
48. 97
30.19
37. 87
41. 86
42.59
44.46
' 42.42
31. 65
32.41
32.44
33. 76
34. 69
34.98
34. 80
35.02
34.76
r
r
28.72
31.92
29.25
32.48
29.01
32.42
30 14
33.74
31.36
34.74
31.79
35.10
31.58
35.11
31.75
34.64
31.64
34.94
35. 71
37.64
38.52
41.04
41.29
41.81
41.67
41.63
41.18
31.16
31.98
40. 11
33.93
32.37
40. 31
41.37
31.56
45.78
32.65
41.23
44.81
31.88
32.77
41.07
35. 74
34. 13
41. 49
41.28
33.87
47.51
31.53
41.46
44.67
33.24
33.88
42.95
36. 03
34. 71
41.37
40.95
33. 86
46.68
32.36
41. 17
44.08
33.70
34.94
42.50
36. 69
35.99
40.93
41 15
33 18
43 23
31 98
41 15
44.34
36.01
37.04
46. 83
37.37
36.67
40.47
41 49
33.71
42 56
32. 95
41.97
44.80
35.92
37.50
46.29
37.58
36.97
40.76
41.74
35. 48
42.77
32.48
42.03
44.87
35. 28
37. 68
46.10
37.35
36. 77
40.70
41.14
34.64
43.99
33.52
42.10
45.20
35. 23
38.18
44.02
37.34
36.14
41.09
41.42
35.78
43.05
33.83
42.74
45.34
33.83
35.84
42.67
36.46
35.38
43.22
43. 81
38.89
48.05
33.24
43.12
46.06
48.83
52.26
47 25
42. 10
49. 25
53. 54
56.21
44. 68
47.78
49.28
52.70
47.92
42.55
49.56
53.05
55.42
45. 48
48.54
49.36
52.95
48. 18
42.61
50.66
52.06
54.59
46.71
50.29
49.80
53 67
48 30
42.53
49 91
53 45
56.25
46. 05
49.21
50.93
54 86
4951
42.94
50.25
53.30
55.86
46.46
49.72
51.09
55.63
49.18
43.28
50.58
53.27
56.61
49.67
54.77
51.10
56.07
48.77
43.31
5029
52.80
56. 49
49.82
54.72
51. 73
56.08
49.82
43.95
50.69
53.34
56.46
50. 45
64.82
51.79
56. 62
50.03
44.67
52.09
54.19
57.02
50.60
56.11
r 53. 01
r
58. 09
' 50. 83
' 44. 91
51.81
' 54, 36
' 57.10
r
51. 03
' 55. 42
WAGES
M a n u f a c t u r i n g industries, average weekly earnings:
ISatl. ! n d . Con. Bd. (25 industries) _ - dollars.
Ih 8. Dept, of Labor, ail m a n u f a c t u r i n g !
__do._.,.
D u r a b l e poods i n d u s t r i e s . .
do
Iron pnd steel and their p r o d u c t s !
do
Blast furnaces, steelworks, and rolling
oiil'f
doUars
Electrical m a c h i n e r y !
do
Machinery except electrical!
do
Machinery and machine-shop products!__do..._
Machine tools
. do
v 48! CO
T r a n s p o r t a t i o n e q u i p m e n t , except a u t o s ! . do
Aircraft and parts (excluding engines).__do
Aircraft engines*. . . .
...
do. ..
Shipbuilding and boatbuilding
do
Nonferrous metals and p r o d u c t s !
do
L u m b e r and lint her basic p r o d u c t s ! . . . do
Sawmills (incl. loeging camps)__ . _ . _ d o . .
F u r n i t u r e and finished lumber p r o d u c t s t . d o
Furniture}:
do
Stone, clay, and glass p r o d u c t s !
do
'M2~*9'
N o n d u r a b l e goods industries
do
Textile-mill products a n d other fiber
manufactures!
dollars _ _ _
Cotton manufacturers, except small wares!
I
dollars
Silk and ravon goods!.- _
do
!-_____
Woolen
and worsted
manufactures
(except dyeing and
finishing)!
dollars..
Apparel and other finished textile p r o d u c t s !
dollars, _
M e n ' s clothing!
do
s
W o m e n ' s clothing§
do
Leather and leather p r o d u c t s !
. _
do
Boots and shoes
do
Food and kindred productst
do
Bakine
do
Canning and preserving!
.
do
Slaughtering and m e a t p a c k i n g
do .
Tobacco manufactures!
do
P a p e r and allied p r o d u c t s !
do
P a p e r and pulp
do
P r i n t i n g , publishing, a n d allied industries!
dollars
Newspapers and Deriodicals*
do
P r i n t i n g , hook and job*
_
do
Chemicals and allied p r o d u c t s ! . .
...do
Chemicals
do
P r o d u c t s of petroleum and coal!
--do
Petroleum refining. ___ . . .
do
Rubber products!
do
R u b b e r tires and inner t u b e s . . . .
_ do
37. 54
38.09
35. 35
37. 20
35. 57
38.67
41.88
42.44
42.40
' 36. 48
38.11
r 47. 45
36. 74
35.17
44.34
44.63
41.12
48.37
' 34.16
' 44. 26
47.56
r 37. 23
39.14
* 47. 82
37.49
r 36. 18
r 43. 60
44. 60
41. 54
41.11
' 35. 33
* 44. 53
47.57
36. 67
39.19
46.25
37.07
35. 05
43. 88
45.45
40.79
43.06
36.82
45. 54
49.05
r
54.34
60.28
51.50
45.47
52.87
54.47
57. 39
51.33
57.19
37. 00
34.81
37.42
54.09
' 60.10
' 51.71
r 45. 38
52.61
' 55. 25
58.35
r 53. 62
59.91
T
Revised.
v Preliminary.
1 Beginning with October 1946, data relate to the end of the preceding month. Data for the wTeek ending September 15th are not available.
X Sample was changed in November 1942; data are not strictly comparable with figures prior to that month.
§ Sample was changed in July 1942; data are not strictly comparable with figures prior to that month.
* New series. Indexes of pay rolls beginning 1939 for retail food establishments and 1940 for w ater transportation are shown on p. 31 of the June 1943 Survey. Data beginning
1932 for the newspapers and printing, book and job, industries will be published later; see November 1943 Survey for data beginning August 1942. Data for the aircraft engine industry
beginning 1939 will also be published later.
t Revised series. See note marked " ! " on p. S-10 regarding revisions in the indexes of pay rolls in manufacturing industries and sources of revised data and note marked " t " on
p. S-ll for sources of revised data for pay rolls in nonmanufacturing industries. The indicated series on average weekly earnings and average hourly earnings (p. S-14) have been
shown on a revised basis beginning in the March 1943 Survey and data are not comparable w ith figures shown in earlier issues (see note marked " t " on p. S-13 of the July 1944 Survey); data prior to 1942 have not been published in the Survey and will be shown in a later issue; there were no revisions in the data for industries that do not carry a reference to
this note.
SURVEY OF CURRENT BUSINESS
S-14
January 1947
1946
Unless otherwise stated, statistics through 1941
and descriptive notes may be found in the
1942 Supplement to the Survey
Novern- December
ber
January
February
March
April
May
June
August
Julv
I Se
October
EMPLOYMENT CONDITIONS AND WAGES—Continued
WAGES—Continued
Manufacturing industries, average hourly earnings:
Natl. Ind. Con. Bd. (25 industries)
dollar?
U. S. Dept. of Labor, all manufacturing!.
do....
v 1.135
v 1. 206
Iron find steel and their productsf..
do_._
Blast furnaces, steel works,, and rolling mills!.do
Flectrical machinery!
do
do
Machinery, except electricalt
Machinery and mschine-sbop products!.do,. _.
Machine tools .
do _
do
Automobilest
. . . .
Transportation equipment, except auiosf.. do
Aircraft and parts (excluding engines)..do
A ircraft engines*
do
do
Shipbuilding and boatbuilding'
Nonferrous metals and products!
do
Lumber and timber basic products!
.do
--------Sawmills (incl. logging camps)...
..do
Furniture and finished lumber produetst__do
Furniture..
___.,.
do
Stone, clay, and glass products!
._
do....
p 1.CG2
Nondurable goods industries!
_ _ do
Textile-mill products and other fiber
manufactures!.
dollars..
Cotton manufactures, except email
wares!
dollars.
Silk and rayon goods!
Woolen and worsted manufactures
(except dyeing and
finishing)!
..dollars.Apparel and other finished textile products!
dollars..
Men's clothing!
do,
Women's clothing?
do
Leather and leather products!
do
do .
Boots and shoes... .
_____
Food and kindred products!
do
Baking
do
Canning and preserving!
do
Slaughtering and meat packing
do
Tobacco manufactures!
do
Paper and allied products!
do
do
Paper and pulp
Printing, publishing, and allied industriest.do
Newspapers and periodicals*
fin
Printing, book and job*
do
Chemicals and allied products!
do
Chemicals
do
Products of petroleum and coal!
do
Petroleum refining
do
Rubber products!
do
Rubber tires and inner tubes
Nonmanufacturing industries, average hourly earnings
(U. S. Department of Labor):*
Building construction
r?niinr«
Mining:
Anthracite
do
Bituminous coal
. do
Metalliferous
do
Quarrying and nonmetallic
_ do
Crude petroleum and natural gas
do
Public utilities:
Electric light and power
do
Street railways and busses
do
Telegraph
do
do
Telephone!
Services:
Dyeing and cleaning t
do
Power laundries*
. do
Trade:
Retail..
do
fin
Wholesale
Miscellaneous wage data:
Construction wage rates (E. N. R.):1
1.078
Common labor..
.dol. per hr__
1.86
Skilled labor
. .
_
do
Farm wages without board (quarterly),
dol per month
Railway wages (average, class I)
.dol. per hr._
Road-building wages, common labor:
.86
do
United States average
. . .
1.180
1.071
1.147
1.190
1.290
1.131
1. 2C4
1. 180
1. 251
1. 325
1. 333
1.268
1.339
1. 403
1.149
.880
.860
.917
.943
1. 019
.996
1.189
1. 084
1.165
1. 206
1.303
1.148
1.223
1.202
1. 277
1. 347
1. 350
1. 302
1.343
1.410
1.163
.908
.888
.927
.950
1.041
1.C03
1.194
1.093
1.177
1.216
1.314
1.158
1.232
1.212
1. 269
1.354
1.360
1.325
1.348
1.436
1.166
.910
.892
.937
,957
1.057
1.009
1.217
'1.112
1.186
1.222
1.305
'1.169
1.246
1.228
1.291
1.373
1.359
1.323
1.354
1.431
'1.177
.928
.911
.957
.982
1.063
1.036
.858
. 869
.873
.875
.877
'.924
. 940
. 947
.788
.838
.799
.845
.803
.849
.803
.850
803
858
.875
.906
. 888
. 922
.892
.931
1.129
. 002
1.064
,084
'. 053
.139
.123
.195
.230
]1231
.188
L 258
.273
L. 066
.830
.804
.864
. «f 2
.942
.241
"029
,147
.129
.206
.248
1.234
.222
. 268
.278
1.091
.836
.810
P71
.891
.967
.953
1.146
1. C35
1.103
1.16P
1. 290
1. 036
1.172
1.154
1.214
1.264
1. 264
1.233
1. 259
1.324
1.113
.848
.826
.888
.913
.985
.975
.795
.803
.833
.721
.788
.724
.790
.753
.812
1.102
.994
1. Of.6
1.091
1,155
1. 050
1.134
1.120
1.210
1.220
1.239
1.187
1. 208
1. 292
1.063
.814
.790
.786
.713
.777
1.165
1. 058
1.131
1.186
1.294
1. C96
1.179
1.1C3
1. 220
1. 302
1.316
1.253
1. 293
1.389
1.131
. 856
.834
. 903
.930
1.0C4
.988
1.107
.004
.070
.095
1.088
.990
1.064
L 082
1.146
i. 039
L. 124
1.109
1.193
L. 217
t. 244
1.183
1.194
1. 301
1.058
.789
.765
.844
.866
.928
.918
.' 927
' 1.229
'1.127
1.201
'1.241
1.325
' 1.185
r 1. 2t 0
' 1. 238
r 1, p.^f;
' 1. 357
r
1.325
'1.357
r
1.428
'1.192
'.935
'. 915
.977
1.001
1.088
r
1.050
r
1. 229
'1.130
'1.202
1. 238
1.300
1.186
1. 205
1.245
1.310
1.378
1.358
1.321
1.364
1.432
1.196
. 936
.913
.992
1.(19
1.097
1.055
.884
.900
.922
.988
.999
1. 010
1. 014
1.014
1.017
1.024
]. 034
1.037
.864
.881
1.113
.857
.821
.908
.901
.834
.964
.807
.902
.935
1.171
1.334
1.098
.991
1.148
1.217
1.287
1.112
1.249
.875
.888
1.12f
.881
.848
.915
.904
.849
.951
.806
.910
.945
1.188
346
118
001
159
.236
.315
,113
,247
.906
.912
1. 106
.904
.877
.921
.904
.846
.961
.824
.928
.969
1.200
1.364
1.130
1.015
1.180
1.249
1.330
1.121
1.255
.922
.947
1.168
.907
.890
.924
.913
.844
.939
.832
.937
.982
1.221
1.379
1.155
1.021
1.198
1.286
1.369
1.129
1.266
.961
.981
1.222
.917
.896
.943
.920
.859
1.051
.830
.957
1.001
1.235
1.400
1.166
1.033
1.211
1.307
1.383
1.138
1.275
. 966
.993
1.234
.928
.904
.952
.930
.885
1.072
.830
.966
1.010
1.248
1.423
1.171
1.045
1.220
1.332
1.420
1.232
1.414
. 956
.997
1.211
.942
.921
.961
. 931
.887
1.087
.848
.983
1.030
1.266
1.443
1.186
1.064
1.234
1.342
1.419
1.266
1.446
.951
.999
1.191
.950
.923
.972
.945
.898
1.095
.846
.993
1.038
1.278
1.449
1.203
1.084
1.243
1.347
1.431
1.283
1.461
.941
985
1 180
954
.927
986
980
904
1 115
" 851
1 007
1 053
1.287
1 459
1 212
1 098
1 256
1 355
1 437
1 292
1 472
'.986
1.009
'1.263
.972
.945
1.015
.994
.976
1.116
'.885
1.020
1.070
1.299
r
1.475
1.220
r 1.102
1.260
1.347
1.427
r 1.295
r 1.474
I. 010
1.(27
'1.300
.982
'. 955
'1.014
1. C03
. 963
1.114
r
8P6
' 1. 037
1.086
'1.316
r
1.497
'1.234
r
1.110
1.281
'1.368
1.453
1.320
1.505
.997
1.024
1.266
. 987
.960
1.035
1.042
.989
1.147
.910
1.049
1.102
1.326
1.514
1.23S
1.102
1.278
1.354
1.438
1.305
1.490
1.397
1.397
1.402
1.422
1.411
1.423
1.431
1.444
1.473
'1.482
1.510
1.526
1.333
1.263
1.048
.909
1.231
1.380
1.281
1. 051
.908
1.251
1.339
1.269
1.036
.907
1.257
1. 376
1.265
1.059
.913
1.284
1.376
1.274
1.071
.930
1.308
1.352
1.239
1.090
.959
1.293
1.382
1.321
1.133
.967
1.287
1.559
1.474
1.180
.994
1.322
1 562
1 457
1 205
1.004
1.311
1.598
'1.466
1.212
'1.016
'1.307
1.611
1.480
1.221
1. 042
'1.313
1.593
1.459
1.208
1.046
1.307
1.162
.981
.820
1.002
1.186
1 013
.822
1.011
1.177
1.007
.813
1.030
1.195
1.011
.833
1 095
1.222
' 1. 001
.851
1.105
1.219
'1.025
.886
1.131
1.236
1.049
.905
1.143
1.275
1.053
.908
1.147
1 258
1 097
910
1 135
1.260
1.099
.910
1.129
1.291
1.110
.914
1.148
1.284
1.132
.921
1.137
.786
.673
.789
.676
.793
.675
.793
.675
.815
.684
.833
.688
.831
.703
.834
.703
826
.698
.832
.693
.800
1.056
.796
1.058
.828
1.070
.835
1.095
.841
1.101
.851
1.121
.859
1.135
.876
1.146
888
1 155
.917
1.68
.938
1.68
.953
1.70
.968
1.73
.988
1.74
1.004
1.76
1.018
1.77
1.034
1.80
.957
.967
95. 30
.953
.973
.949
97.40
1.065
1.091
1.139
.80
.75
.69
.75
.75
.76
.78
.81
87
88
90
92
93
93
94
95
80
63
8
81
64
9
82
64
10
r
r
.839
.7C8
.854
.708
'.893
1.148
. 906
1.179
.908
1.172
1.058
1.81
1.071
1.82
1.072
1.85
1.073
1.85
106 00
1.136
1.130
1.155
104. 0C
.80
.86
.84
.8;
96
97
99
m
PUBLIC ASSISTANCE
Total public assistance--__.
...mil. of doL.
Old-age assistance, and aid to dependent children and
the blind, total
rail,
ofdnl
Old-age assistance
do
General relief
_ _
do
i'110
v 76
79
63
8
83
65
10
84
65
9
85
66
9
85
66
9
86
67
9
87
68
10
89
69
10
r
10"
r
9t
1]
' Revised,
v Preliminary. § Sample was changed in November 1942; data are not strictly comparable with figures prior to that month.
• The average for workers who were employed in February was $1,217; this average is affected by strike conditions, since maintenance workers were left on during the strike
while low-paid production workers were out; the average is therefore omitted from the table above to avoid misinterpretation.
• The comparability of the series was affected by a change in the data in July 1945; see January 1946 Survey for June 1945 figures on both the old and the new basis.
tData beginning April 1945 are not comparable with earlier data; see note for hours and earnings in telephone industry at the bottom of p. S-13 of the April 1946 Purvey.
IRates as of December 1,1946: Construction—common labor, $1.085; skilled labor, $1.86.
•New series. Data on hourly earnings for 1937-43 for the telephone industry are shown on p. 20 of the May 1945 Survey (see also note marked "%" above regarding a change in th e
data in April 1945) and data for the telegraph industry beginning June 1943 are on p. S-14 of the January 1945 issue. Data on hourly earnings beginning March 1942 for the other
nonmanufacturing industries and beginning August 1942 for the printing and publishing subgroups are available, respectively, in the May 1943 and November 1943 issues, and data
back to 1939 will be published later.
tSee note " t " on p. S-13.
cTRevised figures for March and April 1945: March $0,956; April, $0,968.
SURVEY OF CURRENT BUSINESS
January 1947
Unless otherwise stated, statistics through 1941
and descriptive notes may be found in the
1942 Supplement to the Survey
S-15
1945
1946
1946
Novem- Novem- December
ber
ber
January
February
March
April
May
June
July
August September
October
FINANCE
BANKING
Agricultural loans outstanding of agencies supervised
by the Farm Credit Administration:
Total
mil. of dol
Farm mortgage loans, total
_
_
do
Federal land banks
. _.do___
Land Bank Commissioner
do
Lnans to cooperatives, total . . _ _
do _
Banks for cooperatives, incl. central bank ..do
Agr. Marketing Act revolving fund
do
Short term credit, total
do___
Federal intermediate credit bankscfdo
Production credit associations .
...do. _
Regional agricultural credit corporations-__do____
Fmergeney crop loans _ _ _ . . > . _ _ _ do
Drought relief loans
do
Bank debits, total (141 centers)!
- - - do
New York City
do
Outside New York City
do
Federal Reserve banks, condition, end of month:
Assets, total
_
do „
Reserve bank credit outstanding, total
_.do
Bills discounted
do
United States securities _
_ do .
Gold certificate reserves ®
do
Liabilities, total
_.
do.
Deposits, total
do
Member bank reserve balances
do
Excess reserves (estimated)
„__
do_-,.
Federal Reserve notes in circulation
do
Reserve ratio. _ _ _ _ _ _ _ _ _
percent.
Federal Reserve weekly reporting member banks, condition, Wednesday nearest end of month:
Deposits:
Demand, adjusted.
mil. of dol.
Demand, except interbank:
Individuals, partnerships, and corporations.do
States and political subdivisions. _
do__
United States Government __ _____ _ _ do _
Time, except interbank, total
do
Individuals, partnerships, and corporations.do
States and political subdivisions.
do
Interbank, d o m e s t i c . __
_ _ _ __
_ do _
Investments, total
do
U. S. Government obligations, direct and guaranteed, total
mil of dol
Bills
do
Certificates.
_
do _
Bonds (incl. guaranteed obligations)
do
Notes
_
do
Other securities _
do
Loans, total
_
do._
Commercial, industrial, and agricultural §__-do
To brokers and dealers in securities
do
Other loans for purchasing or carrying securities
mil. of dol__
Real estate loans
do _
Loans to banks.
_do
Other loans
.__
... do
Money and interest rates :1
Bank rates to eustomerst
New York City
percent..
7 other northern and eastern cities
do
11 southern and western cities
do
Discount rate (N. Y. F. R. Bank) •
. do _
Federal land bank loanst
do
Federal intermediate credit bank loans
do
Open market rates, New York City:
Prevailing rate:
Acceptances, prime, bankers', 90 days_.____do
Commercial paper, prime, 4-6 months
do
Time loans, 90 days (N. Y. 8. E.)
do
Average rate:
Call loans, renewal (N. Y. S. E.)
_ do
U« 8. Treasury bills, 3-mo
do
Average yield, U. 8. Treasury notes, 3-5 yrs.:
Taxable*
_
do
Savings deposits, New York State savings banks:
Amount due depositors
mil of dol
D. 8. Postal Savings:
Balance to credit of depositors
do
Balance on deposit in banks
_ do
1,670
1,099
954
145
189
~2
401
33
245
3
91
£0
77.If3
31, ( ^
46.105
1,808
1,272
1,030
242
165
161
3
372
25
207
8
98
34
71,501
32, 246
39.255
1,782
1, 256
1,028
228
162
158
3
363
28
199
6
07
34
92,809
45, 035
47, 774
1,770
1, 236
1,022
214
161
156
3
373
29
208
5
97
33
80, 796
38,819
41,977
4^, 647
24, 791
316
23, 944
18,310
45, 647
18,083
16,513
1,101
24, 799
42.7
44,611
24, 697
775
23,472
17,870
44,611
18,097
16,022
1,024
24,365
42.1
45,063
25,091
249
24, 262
17,863
45,063
18, 200
15,915
1,471
24.649
41.7
40,135
40, 247
40, 638
2, 270
3, 524
10,380
10,158
162
9,148
41, 243
40,230
2,181
8,547
9,347
9,194
110
10,463
48, 749
37, 859
741
5, 041
27, 045
4,432
3,384
16, 548
10,149
1,325
1,233
1,513
146
2,182
1,772
1,226
1,022
102
31
73,900
30, 216
43, 684
454
30
291
3
98
31
74. 552
31,397
43,155
44,625
24,164
245
23, 633
18,105
44, 625
17, 906
15,991
856
24, 244
43.0
45, 045
24, 748
331
23, 946
18,098
45,045
18,294
16, 245
J, 085
24,412
42.4
44,813
24, 594
213
24, 049
18,095
4.4.813
18,060
15,910
725
24, 448
42.6
44,889
24,109
253
23,518
18, 229
44, 889
17,579
15,931
r
567
24, 583
43.2
39, 522
39, 362
39,303
39, 237
39, 653
39, 295
2,436
8,660
10,119
9,943
120
9,025
46,831
39,508
2,274
7,299
10,214
10,020
139
9,374
45,750
39, 273
2, 245
6, 556
10, 280
10,075
145
9,242
44,905
39,418
2,370
4,680
10, 344
10,133
153
9,288
42, 631
39,851
2,308
4,640
10, 364
10,159
145
9, 235
42, 461
45, 586
1,014
10, 359
27, 471
6,742
3,390
14,904
7,482
2,167
43,431
758
9,380
26, 744
6,549
3,394
14, 917
7,529
2,119
42, 269
773
9,605
26,936
4,955
3,481
14,912
8,018
1,604
41, 463
758
8,762
27,089
4,854
3.442
15,078
8,496
1,371
39, 088
679
6, 547
27, 228
4,634
3,543
15,477
9,164
1,253
39,044
660
6, 729
27,183
4, 472
3,417
16, 093
9,759
1,208
2,113
1,228
74
1,840
2,013
1,277
90
1,889
1,837
1,332
189
1,932
1,696
1,367
3 72
1,976
1,455
1, 424
127
2,054
1,343
1,473
188
2,122
1.00
4.00
1.50
1.00
4.00
1.50
r 1.83
2.43
2.75
1.00
4.00
1.50
1.00
4.00
1.50
66, 708
30,498
36, 210
1,770
1,198
1.012
.186
125
120
3
448
31
274
4
106
32
79,330
37, 208
42,122
1,777
1,188
1,009
179
124
119
3
466
32
291
4
106
32
77, 518
35,085
42,433
1,779
1,182
1,008
174
118
115
3
479
34
304
4
105
32
78,191
34, 972
43, 219
1,770
1,169
1,001
168
124
118
3
477
33
305
4
104
32
82, 374
37,357
45,017
44, 268
23, 976
294
23, 264
17, 983
44, 268
17,822
15, 682
1,089
24,153
42.8
44,093
23,648
347
22,904
18,049
43, 487
17, 559
15, 537
l f 014
24,131
43.3
43,889
23,630
626
22,601
18,075
43, 277
17,659
14,853
627
23,993
43.4
43,652
23,357
279
22,732
18,097
43,030
17,451
15,606
959
23,925
43.7
43, 807
23, 518
254
22,932
18,092
43, 807
17,865
15, 653
807
24,064
43.7
44, 828
24, 456
157
23, 783
18,103
44, 828
18, 206
16,123
1,112
24,191
42.7
37,066
38,026
37, 610
37,116
38,242
38, 941
37,674
1,949
16, 660
9,447
9,304
99
11,092
52,058
37,933
2,123
16, 227
9,566
9,416
106
10,162
53, 021
37,741
2,160
16, 481
9,695
9,526
123
10, 056
52,970
36,990
2,243
14, 536
9,756
9,582
127
9,381
50,285
38,041
2,456
12,363
9,881
9,704
129
9,533
49,380
38,669
2,433
11,377
10,030
9,851
128
9,153
48,983
45,489
975
9,832
25,729
8,953
3,248
13, 632
6,778
2,481
48,664
1.761
12,130
26, 737
8,036
3,384
15,890
7,249
2,791
49,648
1,742
12, 778
27,184
7,944
3,365
15,190
7,300
2,337
49, fill
1,517
12,860
27, 234
7,900
3,452
15,178
7,382
2, 345
46,812
785
11,944
27,034
7,049
3,467
15, 690
7,464
2,823
45,986
1,052
10,608
27,402
6,924
3,387
15,053
7,473
2,204
1,638
1,073
66
1,596
2,958
1,095
83
1,714
2,687
1,107
2,520
1,129
56
55
1,703
1,747
2,382
1,152
68
1,801
2,224
1,195
91
1,866
1.00
4.00
1.50
1.00
4.00
1.50
1 71
2.23
2 38
1.00
4.00
1.60
1.00
4.00
1.50
.81
.94
1.50
.44
.75
1.25
.44
.75
1.25
1.38
.376
1.00
.375
205
154
148
3
391
28
226
4
100
33
1,741
1,136
979
157
151
146
1,717
1,117
966
151
180
175
2
421
30
264
3
93
31
81.583
33, 913
47, 670
1,776
1,209
1,015
194
144
138
3
423
29
252
4
105
33
79,119
35. 670
43, 449
1,751
1,151
989
162
130
125
2
470
32
302
4.00
1.50
1.75
2.34
2.93
1.00
4.00
1.50
1.00
4.00
1.50
1.00
4.00
1.50
1.84
2.51
2.97
1.00
4.00
1.50
.44
.75
1.26
.44
.75
1.25
.44
.75
1.25
.44
.75
1.25
.47
.75
1.25
.50
.75
1.25
.59
.77
1.25
.71
.81
1.50
.81
.81
1.50
.81
.88
1.50
1.00
.375
1.00
.375
1.00
. 375
1.00
.375
1.00
.375
1.00
.375
1.00
.375
1.00
.375
1.38
.375
1.38
.375
1.38
.375
too
n.24
i 1.22
U.14
i 1.15
i 1.10
> 1.03
1.99
U.12
i 1.18
i 1.15
i 1.13
1 1.14
i 1.22
9, 013
8,144
8,283
8,357
8,419
8,502
8,560
8,634
8,762
8,825
8,875
8,919
8,958
3, 260
6
2,909
6
2,933
6
2,981
5
3,013
5
3,043
5
3,066
5
3,091
5
3,120
5
3,160
5
3,188
6
3,207
6
' 3, 235
6
CONSUMER SHORT-TERM CREDIT
7,315
r 8, 384 P 8 , 7 1 7
7,507
6,978
7,762
v 9,189
6,564
7,843
8,155
6,506
6,734
6,344
Total consumer short-term debt, end of month*_.do
2,652
2,789
2,507
p 3, 655
2,408
2,908
3,031
3,182
2,364
2,365
r 3, 301 v 3,470
Instalment debt, total*
do
2,190
1,181
957
1,004
v 1, 266
905
1,072
1,035
877
879
1,126
903
Sale debt, total*
_._
_.
do . v 1,360
805
264
289
318
425
245
365
394
*>466
336
219
227
235
Automobile dealers*
. . .
do ._
200
236
188
206
184
P285
210
213
222
198
189
Department stores and mail-order houses*..do
173
295
311
274
279
P335
272
299
283
Furniture stores*
do
288
299
308
262
15
14
14
16
25
P27
21
23
14
17
Household appliance stores*.
do. .
14
12
v 72
60
65
P 66
59
61
74
61
63
63
64
47
Jewelry stores*
__ _ d o
66
119
105
101
108
v 126
p 135
100
110
111
115
107
101
Allother*
do. _
92
r
Revised. » Preliminary. § Includes open-market paper. 1 For bond yields see p. S-19 .
i For Sept, 15-Dec. 15, 1945, includes Treasury notes of Sept. 15, 1948, and Treasury bonds: of Dec. 15, 1950: Beginning Dec. 15, includes only the bonds of Dec. 15,195a
cf Excludes loans to other Farm Credit Administration agencies.
t Rate on all loans; see note on item in April 1946 Survey.
® Effective June 12,1945, only geld certificates are eligible as reserves; for total reserves through May 1945, see April 1946 Survey and earlier Issues.
• A rate of 0.50 was in effect from Oct. 30, 1942-April 24,1946, on advances to member banks secured by Government obligations maturing or callable in 1 year or less.
•New series. Data beginning December 1940 for the series on taxable Treasury notes are available on p. S-14 of the April 1942 and later issues of the Survey. For information
regarding the series on consumer credit see note marked "*" on p. S-16.
tBank debits have been revised beginning May 1942 to include additional banks see note in the April 1946 Survey for source of 1942 data.
SURVEY OF CURRENT BUSINESS
S-16
1945
1946
Unless otherwise stated, statistics through 1941
and descriptive notes may be found in the Novem- Novem- Decem1942 Supplement to the Surrey
ber
ber
ber
January 1947
1946
January
February
March
April
May
June
July
August September
October
FINANCE—Continued
CONSUMER SHORT-TERM CREDIT—Cont.
Consumer short-term debt, end of month—Continued.
Instalment debt-—Continued.
Cash loan debt, total*
.mil. of dol..
Commercial banks*..
do_
Credit unions
do_
Industrial banks*
do_
Industrial loan companies*
__..do
Small loan companies
...
do.
Insured repair and modernization loans*__.do
Miscellaneous lenders*
do
Charge account sale debt*
do
Single payment loans*
do
Service credit*
do
Consumer instalment loans made by principal lending
institutions:
Commercial banks*
__mil. of dol..
Credit unions
do
Industrial banks*
do....
Industrial loan companies*
do
Small loan companies
do
5
2, 2G5
J> £05
v 175
v 112
v 04
v 574
P 329
v 106
' 2, 859
1
1,820
i- 855
1, 385
448
124
73
67
409
174
90
1.835
1,556
763
1,462
471
128
76
70
445
179
93
1,981
1,616
772
1 487
494
127
76
70
446
181
93
3, 701
1, 659
782
1,529
522
128
78
71
452
184
94
1 692
] 671
793
v 171
p 33
94
21
15
14
97
101
23
18
16
133
104
19
14
14
76
105
19
14
14
80
v 20
v 122
1,602
564
132
82
73
462
194
95
1.972
1. 695
804
132
24
18
16 i
103 |
1,695
608
137
85
76
482
210
97
2,138
1,710
815
1,785
656
142
88
78
492
231
98
2,188
1,708
822
1,873
700
149
92
79
506
248
99
2 ,327
1, 697
830
1, 959
745
154
96
81
520
263
100
2,281
1, 695
836
2,056
792
158
100
84
535
285
102
418
1,714
841
138
25
18
16
105
148
28
19
16
97
148
28
19
17
99
156
29
20
17
106
164
30
r 2, 120
825
v 2, 204
164
103
v 170
p 108
*>90
* 556
r
86
544
'295
103
2, 4P5
1,740
848
P864
P.312
P
P
P 104
2, 621
1,773
»853
156
P34
20 j
18
110
20
18
98
p 19
*107
LIFE INSURANCE
Life Insurance Association of America:
36, 257
37, 274
36, 502
36, 660
37 552
3" 7(
36, 882
Assets, admitted, totaltA
mil. of d .1.
163
5,189
5,163
5
5,148
O °_-f>
5, 152
5, 138
Mortpage loans, total
. . . ._ do
,(i)
575
581
r
"
)
577
574
573
5
7
569
Farm
___. .
. . . do _
A { i
588
4, 608
1 62'
4,586
4, 578
4, 565
4. 579
. "N5
Other
__ _. _ c'o
022
*7
')
608
678
667
656
632
(
U
Real-estate holdings.
_. V. .
494
1,488
*,4S4
J, 500
79
"1
1,523
1, 514
1. 507
Policy loans and premium notes
.. _
(""o
Q
545
28,
823
_,S
27
L9
'M
9
27,5c
28.
043
28,
367
28,
2^0
Bonds and stocks held (bootr value) tct>V . do .
413
19,551
19.157
18,705
19.357
',72
19,249
Govt. (domestic and foreign), tofal . _. . do
n
090
Is
2-S
18.239
17,837
17,368
18,
035
17,937
U. 8. Government
. _ . . __ do _
312
4. 332
4 _2
4, 249
4. 255
4, 298
'"91
4, 290
Pnhlic utility
.
. . . do .
549
2,583
2, 558
2. 5*4
2, 595
2,563
Railroad
".
. . . . . . . . d<.
271
2,044
2.0'! 7
2,126
2,149
2, 101
2,4 j
Other
_.
df
571
' 465
526
527
383
Cash
. _
do . . j
685 |
811
599
701
85 9
824
Other admitted assets,.
..do _ j
27!
m
j 368,987
S'S 22
437 | 'HO, 694 352. 397 350,147 300 879
1 1 1(0
Premium collections, total®
.thou". nf dol. , 3 K
>(1
» 3 j 47,047 ! ^s 321
1 \2 ! 87.495 I 49, 026
't 1 i >3
42. 063
43,661 |
Annuities
.
do . ' , , 221
1
063
j
21,975
26,978
25,250
J
413
22,
943
24.090
Group,
. . . ._ do
r
68, 278
268 ! 66,580
88, 207
"2 n i l
71.010 !
Industrial,
. do _.
208,115
221, 57o
372 233,385 237, l-i o 210, i (
239, 742
219] 562
252.118'
Ordinary
..
do
Institute of Life Insurance:*
Payments to polieybolders and bp.ieFcIarM
21 ', 713
21V 7 T. 239.748 261,549 i 221,902 I 254, 135 236, 574 235,837 221, < 97 22 87'
total...
. thous. of dol
UlK 2.5s
98 789
id] 319 101,343 120,377 | 101,042 116.356 110,072 108,866
1 )J 7
Death claim payments
. . do
34. 479
2 , Sf )
31 0 2 '
35,374
40.344
34 ^73 30, 731
35. 793
32, 587
Matured endowments
_._ _. ._ do
7,459
7 1>S
7,
584
7,
209
8,
294
r,
3oo
7,987
7,179 j
Disability payments
_ do .
16, 278
17 >09
16,904
14,523
21.074
If ssi
15 950
15,597 I 16,227
Annuity payments
_ . _ do .
38, 690
44 0' -.
22(>
39, 253
46,104 j 38, 179
49. 559
58, 906
31 fP9
Dividends
do _
29, 596
24, j S
27,856
1 4, 772
25,356 I 23, 718
28,213
26, 976
25, 140
23. 114
Surrender values, premium notes, etc
.. d o . .
I
Life Insurance Agency Management Association:
Insurance written (new pa Id-for Insurance) • t
Value, total..
_ thous. of dol 1,6 IS.123 . " ' i , 2r ° 4 ll.449.014 |l,350,915 1.516.833 1,816,315 11,971,219 1,956,796 1,863,485 1,952,159
102 14(.
183,743 284,896
88, 416 113. 803 j 138,376 145,517
49, 780
M <4 | 244,760
Group
_ ___ _ do
3-43, 113
338,999 323. 861
275, 647 307,074 355, 691 359,324 359, 369
J 5 ( \ 2 5 3 i 263.151
Industrial
... . . . . do .
Ordinary total
_do._. ,11) l u l Xt 1 507 ' 941. 103 1,025,488 1,121,343 1,346.821 1,473,519 1,451,910 1,340,743 1,343,402
7(>, M
92, 405
83, 573
99.114 109,744 103,655
95, 427
nO, )88 I 63. 267
78. 235
New England
_. .
do
Middle Atlantic
do _ 2s.,, h!4 ^ . M 9 j 235, 875 288,146 311,753 364,915 395,030 363, ()?5 336.659 327, 627
292,
432
202,
162
247,889
321,
302
296.
874
3H,327
290,
952
230,310
East North Central.
do. .
96. 091 100.841 123.992 135,066 136, 475 130,779 127.881
8^418 I 94. 645
West North Central
do....
154,781
113,212
142,
648
126,
228
159,507
158,822
145,156
92.099
95,
808
101. 263
South Atlantic
do
54, 326
41,642
52.013
59, 598
57.384
55, 645
37. 231
36, 008
East South Central
d o . — 44. 003 33,191
86,870
99. 120 109.597 121,878 107, 384 112,081
88,917
78. 747
70. 749
66, 552
West South Central
..do
42, 803
32.159
38, 632
37, 774
43,772
43, 983
40,797
31. 561
25, 544
29,107
Mountain
_.
do
123, 959
95, 579 103, 404 129, 483 141,907 150,308 137,944 139, 036
88,294 101,807
Pacific
..do
1
3
721
1
4"
|
4
1
2 ~~~i
4.i
s l
0'"
h
)
2 ,
u1
< 0
f (
0
_ ( ~ ( 2
K
s
"i!
1~ '21
41
i
1,796 ,758 1,710 ,536
200, 518 238. 591
323,504 346. 116
: 1,125.829
83, 318 | 73,20.5
301,929 259, 183
282, 4.53 249,867
] 25, 687 ] 112,704
142, 193 128,777
53, 232
47, 732
108,188
94. 9.57
43, 087
38,138
132, 650 121,266
( 2U
2f> 172
,796.548
198,701
347. 220
1.2.50.627
87.873
311,142
273,028
118,363
141,415
49, 697
95, 720
41.644
131. 745
MONETARY STATISTICS
Foreign exchange rates:
.298
.298
.298
.298
.298
.298
.298
.298
.298
.298
.298
.298
Argentina
dol. per paper peso..
. 054
. 052
.052
. 052
.052
. 054
.052
.052
.052
.052
.052
.054
.054
Brazil, free cf
. . . . . d o l . per cruzeiro..
. 302
.301
.301
. 302
.301
.302
.302
.302
.301
.301
.302
.301
.302
British India
dol. per rupee..
.908
.
952
.907
.907
.907
.967
.968
.906
.960
.907
.907
.907
.
963
Canada, free rate.
dol. per Canadian dol.
.570
.570
.570
.570
.570
.570
.570
.570
.570
.570
.570
.570
.570
Colombia
dol. per peso..
.206
.206
.206
.206
.206
206
.206
.206
.206
.206
.206
.206
.206
Mexico
do
4.034
4.034"
1.031
4.032
4.034
4.033
4.034
4.034
4.034
4.034
4.034
4,034
4.033
United Kingdom, free rate
dol. per £ . .
Gold:
20, 251
20, 242
20, 030
20,065
20, 256
20, 267
20,156
20, 270
20, 280
20, 402
20, 232
20,305
Monetary stock, U. S
mil of dol._
15, 090
27,461
-38,202 - 4 , 2 5 7 -12,529 -5,770
19. 729
7,996
15,010
60,123
12, 306 115,690
Net release from earmark*
thous. of dol__
28, 423
2, 529
116
361
28,707
748
10,816
2,357
20,146
806
467
31.846
Gold exports 1
do
7,889
26,027
3,146
31,757
1,679
8,877
37,077
24', 217
39, 399 154,186
82,906
24, 988
78
Gold imports 1
do
r
Revised.
v Preliminary.
$ 36 companies having 82 percent of the total assets of all United States legal reserve companies.
cf See September 1946 Survey and earlier issues lor official rate; the official market was abolished July 22, 1946. Free rate prior to August 1945 available on request.
• In January 1944 one company was replaced by a larger one and the 1943 data revised accordingly; revisions for January-September 1943 are available on request.
<8> 39 companies having 81 percent of the total life insurance outstanding in all United States legal reserve companies.
• Or increase in earmarked gold (—).
§ The official rate for Canada was $0,909 from March 1940, when first quoted, through July 4, 1946; the currency was revalued on July 5; the average rate for July 1946 was $0,983
and the rate thereafter, $1,000.
\ Publication of data was suspended during the war period; data for November 1941 to February 1945 will be published later.
• New series. Estimates of consumer short-term credit as originally compiled are published in the November 1942 Survey, pp. 16-20, and the general estimating procedure described
In that issue; data for various components have subsequently been revised from time to time; revisions that have not been published are indicated in the note marked "*" on p. S-15
of the April 1946 Survey. Data for industrial banks and industrial loan companies were formerly shown combined as industrial banking companies. The series on payments to policyholders and beneficiaries represents estimated total payments in the United States, including payments by Canadian companies (see also note marked " • " on p. S-16 of the April
1946 Survey).
t Revised series. All series for insurance written are estimated industry totals and, with the exception of data for ordinary insurance, are revised series not comparable with data
published in the Survey prior to the March 1946 issue (see note in that issue for the basis of the estimates). The data for ordinary insurance continue the data from the Life Insurance
Sales Research Bureau published in the 1942 Supplement and subsequent monthly issues of the Survey; revised data for 1940-44 for industrial, group, and the total will be published later.
January 1947
SURVEY OF CURRENT BUSINESS
1946
1945
Unless otherwise stated, statistics through 1941
and descriptive notes may be found in the Novem- Novem- Decem1942 Supplement to the Survey
ber
ber
ber
S-17
1946
January
February
March
April
Septem- | October
ber
May
June
July
66,867
39,959
8,412
3,158
64,749
39,101
8,203
3,416
57,193
40,050
8,384
3,993
60,795
38, 949
8,092
8,310
8,047
6,798
28,120
28,245
28, 254
28, 448
28, 507
m
173,600
171,237 J»170, 400 170, 200 *>169,600
28,600
*>143,100 *>169,300
144,721 P143, 900
79,476 v 80, 300 v 80, 600 P 80, 300 *>142, 800
51,829 » 52, 300 v 52,800 v 53,100 82, 200
53,400
273
1,147
106
322
166
8,283
7,089
1,187
5,557
4, 385
.901
.901
.708
.901
901
1,186
953
1,175
1,267
2,993
1,395
2,940
1,063
2,583
August
FINANCE—Continued
MONETARY STATISTICS—Continued
Gold—Continued.
Production, reported monthly, total!
thous. of dol..
Africa
do
Canada!
-do
United States!
_
do
Money supply:
Currency in circulation..
mil. of dol.. 28,855
Deposits adjusted, all banks, and currency outside
banks, total*
—mil. of dol.. »168,900
Deposits, adjusted, total, including U. S. deposits*
mil. of dol— »142, 200
' 82,800
Demand deposits, adjusted, excl. U. S.* do
' 53,700
Time deposits, including postal savings*...do
Silver:
858
ExportsA
_
thous. of dol,
11, 595
Imports A
—
_
do..._
.901
Price at New York #
dol. perfineoz__
Production:
Canada
_
thous. offineoz.
United States..
do...
54,686
39,000
7,726
3,822
54,896
38,110
8391
3,635
55,758
39,086
8,346
3,984
60,981
36, 054
8,013
3,283
50,656
34,090
8,677
3,639
28,211
28,515
27,917
27,954
27,879
167,300
175,401
176,600
177,300
173,600
141,000
80,000
47,900
148,911
75,851
48,452
150,400
76,800
49,000
151,200
76, 400
49,800
147,500
75,000
50,100
174,400
148,200
77,500
50,700
147,200
78,600
51,200
9,528
2,836
.708
12, 592
3,173
.708
20,937
2,490
.708
4,794
3,679
.708
888
1,602
.708
119
2,918
.708
268
930
.708
1,096
2,654
1,153
2,031
' 1,205
2,153
1,042
1,495
1,166
613
1,056
344
1,038
409
63,900
38,047
8,338
3,236
27,885
5,930
PROFITS AND DIVIDENDS (QUARTERLY)
Industrial corporations (Federal Reserve): d*
Net profits, total (629 cos.)
mil. of dol.
Iron and steel (47 cos.)
_._
__do__Machinery (69cos.)
do__.
Automobiles (15 cos.)__
do...
Other transportation equip. (68 cos.)
_—do___
Nonferrous metals and prod. (77 cos.)
do...
Other durable goods (75 cos.)
do...
Foods, beverages and tobacco (49 cos.)
do...
Oil producing and refining (45 cos.)._
do_._
Industrial chemicals (30 cos.)
do___
Other nondurable goods (80 cos.).
_—do___
Miscellaneous services (74 cos.)
do...
Profits and dividends (152 cos.):*
Net profits
do...
Dividends:
Preferred
^- _
do...
Common
do
Electric utilities, net income (Fed. Res.)*
do__.
Railways, class I, net income (I. C O.).
do
Telephones, net operating income (Federal Communications Commission)
...mil. of dol.
20
12
65
56
63
62
82
604
67
49
21
151
26
37
74
62
66
71
80
676
94
31
44
38
43
42
84
78
67
76
79
246
116
250
303
22
182
145
20
146
196
13.7
21
153
151
US. 4
20
149
142
123.7
99.2
72.7
70.7
60.4
485
49
47
58
136
27
26
58
37
51
40
58
323
22
19
4
PUBLIC FINANCE (FEDERAL)
U. S. war and defense program, cash expenditures, cumulative totals from June 1940:*
mil. of dol— 345,157 319,063 323,416 326, 961 329,773 332,432 334,995 337,110 339,264 340, 497 342, 061 343, 542 344, 870
U. S. Savings bonds:*
Amount outstanding
do
48,936 49,053 49, 336 49,493 49, 560 49,638
47,473
48,224
48, 718
48,617
48, 756
49, 723
48,849
590
753
Sales, series E, F, and G
—do.
594
494
1,184
1,254
571
519
622
960
626
453
668
478
Redemptions
—do.
537
552
482
533
559
489
565
519
630
634
418
621
Debt, gross, end of month®
do.
262, 277 265,342 278,115 278,887 279, 214 276,012 273,898 272,583 269,422 268, 270 267, 546 265, 369 263, 532
Interest bearing:
Public issues
do.
236, 671 242,140 255,693 256,801 257, 016 253, 613 251, 487 249,960 245,779 243, 994 242, 916 240, 364 238, 34Q
Special issues.
do.
21,481
20, 710
20,000
20, 897
22,332 23, 045 23, 443 23, 854 24, 015
21,135
20,655
21, 224
24, 254
1,187
Noninterest bearing
do.
1,231
1,143
» 2,492
2,421
1,351
1,301
1,311
1,116
1, 264
1,431
1,351
1,188
Obligations fully guaranteed by U. S. Gov't:
642
370
324
Total amount outstanding (unmatured)
_do
553
536
539
467
391
545
542
378
533
362
Expenditures and receipts:
2,796
4,514
Treasury expenditures, total
do
3,677
5,445
5,513
3,510
4,656
4,891
3,023
4,251
2,851
4,602
2,557
1,509
2,182
1,190
War and defense activities^
___
___do.
2,702
4,245
2,442
4,226
1,100
3,417
1,481
2,550
2,560
1,436
13
631
95
Transfers to trust accounts}:
.do
5
32
684
148
0
0
23
200
48
27
122
106
249
1,395
309
Interest on debt
_
do
84
817
118
174
648
646
160
105
1,152
1,294
2,444
1,671
Allotherf
.do
543
346
384
482
1,316
3, 070
1,335
1,383
989
2,717
2,600
2,998
4,482
Treasury receipts, total
do
3,875
2,609
4,122
3,848
2,734
4,481
5,762
2, 617
2.639
2,434
2,539
2,733
4,479
Receipts, net
do
3,678
2,374
4,118
3,819
2,677
4,478
5,747
2,544
2,364
44
42
40
Customs
do
35
35
32
42
33
45
42 .» i H 5
42
45
2,494
2,308
2,251
Internal revenue, total
do
3,948
4,080
2,383
3,451
3,684
2,310
5,583
4,291
2,403
2,230
1, 513
1,407
Income taxes
_
do
1,488
3,366
3,392
2,755
2,790
1,524
1,603
4,838
3,350
1,404
1,444
302
285
Social security taxes..
_
do
67
69
76
65
51
310
257
89
100
290
74
Net expenditures of Government corporations
187
136
-870
wholly owned*
mil. of doL.
—432
-161
—74
—18
—75
-96
—31
-59
—757
-28
Government corporations and credit agencies:f
27, 572
Assets, except interagency, total
mil. ofdol..
34,042
29, 569
33,553
5,425
Loans receivable, total (less reserves)
do
5,487
5,949
5,297
2, 873
To aid agriculture
—do
2,935
3,075
2,860
759
To aid home owners
do
825
704
896
195
To aid railroads
do
196
171
223
196
To aid other industries
do
200
182
232
To aid banks
do
25
20
40
235
To aid other financial institutions
.do
185
237
227
989
Foreign loans
do
655
1,632
526
Allother
do
656
715
641
707
' Revised. *> Preliminary.
* Deficit.
funds. ® Data are on basis cf Daily Treasury Statement
y
e c t . § Special issues to Government agencies and trust funds.
Statem
(unrevised),
» Partly estimated.
* Includes prepayments on securities sold during loan drive beginning in the month
th bt
but iissued
d
after
ft th
the close
l
off the
th month.
th
• Quotations are for foreign silver through July 1946 (figure lor that month covers July 11-31); thereafter quotations apply also to domestic and Treasury silver if such silver enters
into New York market transactions. The IL S. Government price for newly mined domestic silver was $0.7111 through June 1946 and $0,905 effe ctive July 1, 1946.
1 The total excludes Mexico included in the total as published through March 1942; January-May 1942 and 1943 revisions for the United States and the total, and 1941 revisions
for Canada and the total are available on request; see notes in the April and July 1946 Surveys regarding revisions in the 1944 and 1945 data for the United States and the total.
A Publication of data suspended during the war period; data for November 1941 to February 1945 will be published later.
d* The totals for 629 companies, the miscellaneous group, and net profits of 152 companies have been revised beginning 1941, transportation equipment beginning 1942, and othei
series for some quarters of 1943; revisions are shown on p. 31 of the October 1946 issue.
JFor 1941 revisions see p. S-17 of the November 1942 Survey; statutory debt retirements from receipts, which have been comparatively small in recent years, are excluded.
•New series. For data for 1929-40 for profits and dividends of 152 companies see p. 21, table 10, of the April 1942 Survey (see note marked V " above regarding 1940-44 revisions).
See note on p. S-17 of September 1944 Survey regarding the series on net income of electric utilities and data beginning third quarter of 1943, and p. S-16 of the August 1944 Survey
for a brief description of the new series on bank deposits and currency outside bank and figures beginning June 1943; earlier data for these series will be published later. Data beginning July 1940 for the series on the war program are shown on p. 29 of the June 1943 Survey; beginning July 1945 data are from the Treasury Daily Statement; earlier figures were supplied by the War Production Board. See note in April 1946 Survey for a brief description of the series on war savings bonds and p. S-16 of the October 1942 Survey for sales beginning
May 1941; beginning March 1945, amount out-standing includes matured bonds not turned in for redemption. Data for expenditures of Government corporations have been shown on
revised
basis beginning in the September 1946 Survey; see note in that issue for an explanation of the revision.
Digitized afor
FRASER
t Revised series. See note marked " t ' 'on p. S-18.
SUEVEY OF CURRENT BUSINESS
S-18
1945
1946
Unless otherwise stated, statistics through 1941
and descriptive notes may he found in the Novem- Novem- Decem1942 Supplement to the Survey
ber
ber
ber
January 1947
1946
January
February
March
April
May
June
July
August September
October
FINANCE—Continued
PUBLIC FINANCE (FEDERAL)—Continued
Government corporations and credit agenciesf—Con.
Assets, etc.—Continued.
Commodities, supplies, and materials--.mil. of dol..
TJ S Government securities
do
Other secuHties
do
Land, structures, and equipment
do
All other assets
do
Liabilities except Interagenov, total
do
Bonds, notes, and debentures:
Guaranteed by the United States
do
Other
do
Other liabilities
do
Privately owned interests
do
U S Government interests
do
Reconstruction Finance Corporation, loans outstanding,
end of month, totalf
mil. of dol_.
Banks and trust cos., incl. receivers
._
do _.
Other financial institutions
do
Railroads, including receivers
.
do
Loans to business enterprises, except to aid in national
defense
mil. of dol
National defense-. .
.
. do _
Other loans and authorizations
do
2,288
1 683
325
21,017
3,241
6,078
1,918
1,789
285
20, 784
3,480
6,856
1,459
1,767
401
15, 557
2,961
5,752
1 429
1, 836
390
16, 973
2,992
5,004
555
1,113
4,410
472
27,492
536
1,133
5,187
479
26, 218
325
1,234
4,193
482
21, 338
377
1,250
3,377
496
24, 069
1,847
273
106
201
1,861
268
104
198
1,827
234
100
192
1,807
229
99
171
1,776
223
89
172
1,680
221
87
171
1,689
219
85
171
1,474
214
83
171
1,453
212
81
148
1,433
208
51
147
1,327
206
50
147
1.273
203
49
147
144
682
442
145
707
440
145
694
461
146
703
459
175
689
427
140
642
420
143
656
416
171
419
416
168
429
415
158
459
410
160
358
406
158
318
597
SECURITIES ISSUED
Securities and Exchange Commission.'f
1,542
1,859
1,360
' 1, 276
1,585
1,786
1,088
1,180
1,305
1,320
14, 447
Estimated gross proceeds, total
mil. of dol—
4,403
1,937
By types of security:
1,257
1,178
1,122
1,579
1,633
1,016
1,406
' 1, 208
1,148
14,333
1,168
Bonds, notes, and debentures, total
do
4,355
1,680
377
315
195
'315
74
239
447
637
104
280
Corporate
.
do
425
457
387
34
129
99
24
55
125
111
25
146
43
74
24
154
Preferred stock
do
156
126
148
17
43
61
33
63
Common stock _
do
71
68
47
24
103
By types of issuers:
497
663
672
844
267
323
152
500
253
297
629
417
682
Corporate, total
do
421
289
399
134
'214
299
189
104
134
540
188
Industrial . _
do
63
424
182
41
342
126
44
430
113
216
33
64
63
79
Public utility
do
140
35
9
3
20
40
69
194
77
7
151
19
0
99
Rail - .
...
. do
24
54
1
33
3
9
38
27
13
25
8
10
19
Other (real estate and
financial)
do
879
1,186
863
821
893
943
13, 947
883
691
4,251
1,333
888
1,255
Non-corporate total® do
755
778
742
703
1,053
793
1,261
13,650
803
805
619
4,210
967
U. 8. Government
do
124
65
132
50
77
82
150
41
71
71
80
83
State and municipal
do
71
New corporate security issues:
643
488
655
261
291
'377
491
825
245
405
148
617
666
Estimated net proceeds, total
do
Proposed uses of proceeds:
331
245
327
'263
138
121
153
111
25
37
99
New money, total
..do
511
213
91
169
198
126
101
160
17
9
93
63
55
329
148
Plant and equipment
_do
129
206
'104
77
37
62
29
44
16
49
20
183
65
Working capital
_.do
304
117
'
109
331
147
350
124
658
94
240
289
86
433
Retirement of debt and stock
_
do
218
38
36
222
514
296
68
74
320
285
77
56
Funded debt
...do
257
12
14
46
50
18
'
61
5
2
2
28
6
6
57
Other debt
do _
42
62
116
32
40
21
60
12
19
16
30
6
56
Preferred stock.__
do
67
25
10
14
6
20
29
15
17
10
19
21
Other purposes
do
Proposed uses by major groups: §
392
405
277
'210
289
130
61
184
181
100
126
412
530
Industrial, total net proceeds
do
313
206
' 132
21
131
127
94
70
26
470
108
98
New money
_ do
198
74
166
123
'72
154
16
74
107
59
37
15
195
53
Retirement of debt and stock
do
41
179
338
111
124
424
32
63
213
43
61
138
78
Public utility, total net proceeds
_ do
2
24
5
10
181
6
13
108
1
1
1
6
18
New money
_.
do
56
188
43
31
418
135
156
34
98
17
33
132
Retirement of debt and stock
do
77
3
40
35
19
0
68
192
76
9
150
7
98
18
Railroad, total net proceeds
do
3
9
21
16
0
19
1
2
7
1
18
7
8
New money
._ do
0
50
148
69
26
1
0
3
19
0
190
0
97
Retirement of debt and stock
_.do
Commercial and Financial Chronicle:
Securities issued, by type of security, total (new
761, 054 ' 247, 514 840,149 346,113 429, 614 562,023 1,096,711 1,044,800 866,896 931,287 569,921 431, 025 551, 683
capital and refunding)! .
thous. of dol
659, 364 ' 95,024 243,977 200, 347 122, 291 200,449 373,340 309, 593 424,631 491,013 419, 510 231, 340 352,955
New capital, total!
do
659. 364 ' 94, 524 240,744 200,347 122, 291 199,549 373, 340 301, 752 424, 631 491,013 418, 510 231, 340 352, 955
Domestic, total!
._
do
589, 878
59, 776 161,061 131,170
47,089 127, 315 289,600 191,930 307,350 366, 543 354, 302 170, 290 256, 539
Corporate!
. .do
0
0
75
6,855
9,145
0
0
0
47, 265
745
18,280
15,970
22, 420
Federal agencies
do
69,486 ' 34,748
64, 208
61, 050
49,150
79,608
56,922
68,432
56,264
61,321 102,967 108,136 124,470
Municipal, State, etc _
do
0
500
3,232
0
7,841
0
0
1,000
0
0
0
900
0
Foreign
do
101, 690 152,491 596,172 145, 766 307,323 361, 574 723,371 735,207 442,266 440,274 150, 411 199,685 198, 728
Refunding, total!
_
__do
101, 690 128,991 594,102 145, 766 307,323 338,374 698,371 727,605 422, 766 385, 774 125, 661 198,925 198, 728
Domestic, total!
do
86, 316
92, 057 144,180
65,208
78,049 337,010 112,954 264, 262 284, 215 362, 663 663, 502 366,065 345,174
Corporate!-..
...
do
13,395
43, 810 254, 505
29,900
20,060
17,180
40, 580
32,920
32, 920
38, 455 132,645
22,980 325, 685
Federal agencies.
do
1.979
7,132
2,587
46,923
16,120
7,680
684
16, 290
875
23,001
2,912
31,179
10,024
Municipal, State, etc
_ do
0
7,602
19, 500
54,500
24, 750
760
0
23, 500
2,070
0
0
23, 200
25, 000
Foreign
do
Domestic issues for productive uses (Moody's):
188
293
239
306
236
56
151
146
188
199
78
117
Total
mil. of dol
153
210
175
127
246
22
84
82
22
90
55
67
Corporate
do __
34
64
104
83
96
64
61
47
61
56
144
50
Municipal, State, etc
__do
Bond Buyer:
State and municipal issues:
89,389 r 58, 990
67, 526
40,762
83, 674
75,934
76,164
88, 974
85,176 143,933 130, 851 138, 678
Permanent (long term)
_
thous. of dol— 72, 269
62, 729
3,482 131,893
56,461 141,185
1,970
14,734
47,188
50, 925 131,086
59.710
23,909
57, 582
Temporary (short term)
do
' Revised.
<8> Includes for certain months small amounts for nonprofit agencies not shown separately.
§ Small amounts for "other corporate," not shown separately, are included in the total net proceeds, all corporate Issues, above.
1 See note in the April 1946 Survey regarding revisions in the data for 1944.
.
f Revised series. Data for Government corporations and credit agencies have been shown on a revised basis beginning in the May 1946 Survey; data for certain items were furtner
revised in the October issue to take account of recent changes in the classifications. The classifications are those currently used in the revised form of the Treasury Daily Statement.
All asset items, except the detail under loans receivable, are on a net basis (after reserves for losses); reserves against loans are not completely segregated as to the type of loans to which
they are applicable and the detail of loans by purpose is, therefore, shown before reserves; most of the reserves are held against agricultural ]oans. Revised data beginning with the
third quarter of 1944 will be published later; earlier data are not available on a comparable basis. Revisions in the October 1946 Survey resulted from inclusion of guaranteed loans held
by lending agencies in the figures for agricultural loans, foreign loans, total loans, total assets ana the appropriate liability items. Guaranteed foreign loans are included in the 1945
figures published in the May and June 1946 issues of the Survey; $569,000,000 and $262,000,000. respectively, should be added to the March and June 1945 figures in those issues for
agricultural loans, total loans, total assets, total liabilities and other liabilities to obtain figures comparable with later data shown above. The September figures include data as of
July 31,1946, for certain supply operations of the Commodity Credit Corporation. The classification of Reconstruction Finance Corporation loans was revised m the November 1943
Survey (see note in that issue); the figures include payments unallocated, pending advices, at end of month. There have been unpublished revisions in the 1941-44 data for security issues compiled by the Securities and Exchange Commission as indicated from time to time in notes in the Survey; and revisions in the 1945 data as shown in the September
1946 and earlier issues; all revisions will be shown later.
SUEVEY OF CUKEENT BUSINESS
January 1947
1945
1946
Unless otherwise stated, statistics through 1941
and descriptive notes may be found in the Novem- Novem- Decem1942 Supplement to the Survey
ber
ber
ber
S-19
1946
January
February
March
April
May
June
July
August
Septem- October
ber
FINANCE—Continued
SECURITY MARKETS
Brokers' Balances (N. Y. S. E. m e m b e r s carrying
m a r g i n accounts)^
Customers' debit balances (net)
Cash on hand and in banks
Money borrowed
_
Customers' free credit balances
mil. of dol..
do
.do
.,
do
Bonds
Prices:
Average price of all listed bonds (N. Y. 8. E.).dollars..
Domestic
do
Foreign
do
Standard and Poor's Corporation:
Industrial, utilities, and rails:
High grade (15 bonds)—
dol. per $100 bond..
Medium and lower grade:
Composite (50 bonds)..
—
.do
Industrials (10 bonds)
do
Public utilities (20 bonds).....
...do....
Railroads (20 bonds)
„.
.do....
Defaulted (15 bonds)
.
...do.—
Domestic municipals (15 bonds)t
do
U. 8. Treasury bonds (taxable)t
-..do....
Sales (Securities and Exchange Commission):
Total on all registered exchanges:
Market value
thous. of dol._
Face value
do
On New York Stock Exchange:
Market value
do
Face value
do
Exclusive of stopped sales (N. Y. 8. E.), face
value, total
thous. of dol—
U. 8. Government
do
Other than U. 8. Government, total-..do
Domestic—
do
Foreign
...do
Value, issues listed on N . Y. 8. E.:
Face value, all issues
mil. of dol_.
Domestic.—
_._
do
Foreign
_
do
Market value, all issues
_
do
Domestic
do
Foreign
do
Yields:
Domestic municipals:
Bond Buyer (20 cities)
...percent..
Standard and Poor's Corp. (15 bonds)
do
Domestic corporate (Moody's)
do
By ratings:
Aaa
do
Aa
...do
A
____do-__
Baa
do
By groups:
Industrials
_
do. _
Public utilities
do....
Railroads
do
U. 8. Treasury bonds, taxable t
...do
1,048
936
895
856
711
639
1,138
313
795
654
1,168
238
723
734
727
645
755
622
712
575
697
"547"
102.00
102.41
76.89
103. 28
103.71
82.50
103.64
104.04
82.65
104. 75
105.14
82.32
105.19
105. 59
82.11
105.29
105. 69
82.69
103. 89
104. 25
82.88
121.6
122.0
121.9
123.8
124.5
124.5
115.9
122. 5
112.6
112.7
63. 6
136.8
li '3. 7
118.3
122. 5
116.0
116.6
78.9
139. 0
102.6
119.0
123.1
116.2
117.5
82.1
140.1
102.7
119.7
123.9
116.3
118.9
84.9
141.6
104.6
120.0
124.4
116.1
119.6
85.4
143.4
106.0
120.1
124.5
115.9
119.9
82.7
143.4
106.5
66, 55]
97,458
62,101
91, 836
137,749
192,680
138,499
185,652
165,360
217,071
127,551
177,107
128,617
175,083
155, 270 110,162
204,041 146,310
95,127 163,452
742
225
94,902 162,710
89, 201 147,629
15,081
5,701
141,431
745
140,686
131,329
9,357
186,923
1,060
185,863
175,742
136. 787
134, 584
2,203
139,52]
137, 827
3, 694
125,055
122, 494
2,561
129,156
127,044
2,113
138,085
135,529
2,556
143, 111
140, 998
2,112
139,299
136,890
2,409
145, 556 146, 524
143, 571 144, 546
1,978
1,984
138,831
136,423
2,407
146,181
144,190
1,990
1.78
1.80
2.82
1.51
1.70
2.82
1.42
1.64
2.80
1.31
1.57
2.73
1.29
1.49
2.68
2.59
2.69
2.84
3.17
2,62
2.68
2.81
3.15
2.61
2.68
2.79
3.10
2.54
2.62
2.73
3.01
2.66
2.77
3.05
2.25
2.64
2.81
2.99
2.33
2.64
2.79
2.96
2.33
2.57
2.71
2.89
2.21
1,095
10,121
583
809
370
651
442
653
377
647
305
729
253
720
104.03
104. 40
83.16
104. 21
104. 61
81. 64
103. 52
103.92
80.97
103.10
103.49
80.15
102.15
102. 56
77. 95
104.46
102. 88
77.19
124.3
123.7
123.9
124.0
123.8
122.8
121.8
119.9
124.4
115.8
119.6
83.6
144.1
106.6
119.5
123.9
116.0
118.6
81.8
142.1
104.8
119.5
123.9
116.0
118.7
83.2
142.0
105.3
119.1
123.4
115.3
118.5
80.1
140.9
104.9
119.1
124.0
115. 4
117.7
78.8
140.0
104.1
117.4
123.3
114.7
114.3
65.4
137.8
103.3
115.8
122.2
112,9
112.3
62.7
136.0
103.6
119,660 98,956 107, 506 89,462
154, 582 121, 413 131, 595 107,064
83,438
97,833
73, 743
90,590
72, 691 104,881
84,121 167,352
85, 867
131, 880
91, 234 100, 481 84,330
113,002 123,634 100,995
73,706
91,898
69,459
85,918
69,346 99, 647 81,194
90, 244 160, 265 125, 777
105,018 122, 337
720
10,318
104, 298 112,019
95,912 104,968
8,386
7,051
93,952
4,299
89,653
84,310
5,343
84,033
256
83,777
77,609
6,168
79,886
181
79, 705
72,473
7,232
78,010 149, 259 112,738
392
468
279
77, 731 148, 791 112,346
72, 441 142, 298 106,488
5,290
6,493
5,858
138,519
136,143
2,375
143,904
141,936
1,969
138,364
135,968
2,396
143,944
141,951
1,992
136,648
134,281
2,367
142,406
140, 474
1,932
136,596
134, 257
2,339
141,407
139,513
1,894
136, 714
134, 441
2,273
140, 958
139,137
1,822
136, 838
134,569
2,269
139, 784
138.015
1,769
136,880
134,644
2, 236
140, 245
138, 520
1,726
1.29
1.49
2.66
1.37
1.45
2.67
1.36
1.54
2.71
1.51
1.60
2.71
1.58
1.65
2.73
1.73
1.75
2.79
1.66
1.84
2.82
2.48
2.56
2.70
2.95
2.47
2.54
2.69
2.94
2.46
2.56
2.69
2.96
2.51
2.58
2.73
3.02
1.41
1.55
2.71
2.49
2.59
2.73
3.03
2.48
2.59
2.72
3.03
2.51
2.62
2.74
3.03
2.58
2.68
2.80
3.10
2.60
2.70
2.84
3.15
2.54
2.65
2.83
2.12
2.54
2.64
2.80
2.09
2.57
2.65
2.78
2.08
2.60
2.69
2.84
2.19
2.59
2.70
2.85
2.16
2.58
2.69
2.86
2.18
2.58
2.70
2.89
2.23
2.64
2.75
2.98
2.28
2.65
2.76
3.05
2.26
129,337
605
128,732
122,533
6,199
138,961
136,550
2,411
Stocks
Cash dividend payments and rates, 600 companies,
Moody's:
Total annual payments at current rates..mil. of dol— 2,065. 80 1,868.08 1,880. 22 1,886.00 1,900.31 1,908. 54 1,919. 71 1,911.77 1,943.39 1,957.89 1,952.00 1,954. 89 2, 002. 26
Number of shares, adjusted
millions-. 954. 65 941.47 941.47 941. 47 941.47
941. 47 941. 47 941. 47 941.47 941.47
941. 47 911.47 954. 65
Dividend rate per share (weighted average)__dollars..
2.00
2.00
2.03
1.98
2.02
2.06
2.03
2.10
2.04
2.07
2.08
2. 16
2.08
Banks (21 cos.)
do
3.11
3.17
3.21
2.97
3.21
3.21
3.20
3.21
3.21
3.21
3.21
3.20
3.21
Industrials (492 cos.)
do"—
1.94
1.94
1.97
1.92
1.95
2.01
2.05
1.97
2.02
2.03
2.12
1.96
2.03
Insurance (21 cos.)
do
2.58
2.58
2.58
2.58
2.58
2.58
2.59
2.58
2.58
2.58
2.59
2.58
2.58
Public utilities (30 cos.)
do_III
1.80
1.80
1.81
1.79
1.81
1.81
1.88
1.81
1.82
1.82
1.90
1.81
1.81
Railroads (36 cos.)
.do....
2.64
2 64
2.65
2.65
2.77
2.71
2.59
2.81
2.71
2.65
2.76
2.71
2.81
Publicly reported cash dividend payments:*
Total dividend payments
.mil. of dol—
136.5
768.2
149.5
133.6
358.4
396.3
162. 5
497.6
344.7
393.1
451.8
Manufacturing
__
do
71.9
418.6
65.7
69.0
129.6
237.6
278.1
74.9
146.0
128.6
273. 8
147.0
Mining
_.
do
65.3
1.2
.6
2.0
50.2
2.7
22.5
1.0
3.7
24.9
4.1
4.5
Trade
..do
46.7
7.0
9.2
5.7
33.4
5.4
24.0
29.9
39.2
25.3
29.7
19.8
Finance
do...
81.0
19.1
29.6
17.1
36.3
87.5
24.2
31.1
30.9
52.1
50.4
88.6
Railroads
do
63.3
2.7
7.2
33.8
7.6
17.9
r
19.7
22.5
4.8
29.3
17.2
12.5
Heat, light, and power
__do
51.7
32.0
36.5
35.6
29.3
34.9
41.7
38.5
33.3
47.6
46.6
45.3
Communications
I
doIIII
16.9
.2
13.4
.3
.1
13.1
48.3
13.0
51.7
49.8
47.6
Miscellaneous
do
24.7
15.9
2.4
1.5
2.6
17.1
8.1
13.3
7.7
9.7
11.8
Prices:
Average price of all listed shares (N. Y. 8. E.)
98.2
Dec. 31, 1924=100....
93.5
93.0
92.6
96.9
1C3.2
99.1
89.6
100.2
78.5
95.8
80.2
79.3
Dow-Jones & Co. (65 stocks)
dol. per share
74.78
72.36
71.57
74.74
76.98
73.01
77.59
73. 81
76.63
61.77
75.02
62.66
61.10
Industrials (30 stocks),__
do
190. 22 192. 74 199.00
199. 46 194.37 205. 81 206.63 207.32
168.94
202. 27 199. 44 172. 72 169.48
Public utilities (15 stocks)
do
39.94
38.26
38.10
43.03
40.01
40.38
40.93
42.93
42. 51
35.23
40.96
35. 05
34. 58
Railroads (20 stocks)
do
63.67
63.06
65.58
64.77
65.12
61.45
62.89
64.30
66.64
49.24
63.22
49.59
47.28
New York Times (50 stocks)..
_
do.
135.05
132.
71
138.
72 136.88
143. 47 144. 63 140.10
136. 45 118.36
141.86
114.14
136.03
114.00
Industrials (25 stocks).
do
226. 00 223. 25 222. 79 233. 85 236.11
190. 32 216. 74 220.67
231.21 225. 97 198.49
237.16
191.65
Railroads (25 stocks)
_
_
do
49.43
48.69
51.45
46. 93
49.88
37.97
50.84
38.24
50.57
49.27
52.11
36.58
'Rev 1 *
J Since February 1945 data are from the New York Stock Exchange; except for June and December, data are estimates based on reports for a sample group of firms.
New series. Data for 1941 for dividend payments are on p. 20 of the February 1944 Survey. Final revisions for 1942 and 1943 will be published later. For revisions for all
months of 1945, see p. S.-19 of the May 1946 Survey.
t Revised series. The price series for domestic municipal bonds was revisea in the April 1943 Survey; see p. S-19 of that issue for data beginning February 1942 and an explanation
of the revision; earlier data will be published later. Data through December 1943 for the revised series on prices and yields of U. S. Treasury bonds are shown on p. 20 of the September
1944 Survey; these series include all issues not due or callable for 15 years. Yields through December 1945 for partially tax-exempt Treasury bonds are shown in the April 1946 and
earlier issues of the Survey; there were no partially tax-exempt bonds due or callable in 15 years or over after December 15.
S-20
SUEVEY OF CUREENT BUSINESS
Unless otherwise stated, statistics through 1941
and descriptive notes may be found in the
1942 Supplement to the Survey
Novem- Novem- December
ber
ber
1946
1945
January
F
January 1947
1946
Ma
£ r i «*
April
May
June
July
August September
October
FINANCE—Continued
SECURITY MARKETS—Continued
Stocks—Continued
Prices—Continued.
Standard and Poor's Corporation:
146.4
125.4
136.9
139.7
143.3
154.3
122.3
120.6
144.8
151.6
153.2
149.6
141.8
Combined index (402 stocks)
1936-39=100..
125.9
Industrials (354 stocks)
do
123.8
138.7
142.2
147.5
145.8
144.5
155.9
158.8
156.9
153.4
150.4
128.8
112.4
Capital poods (116 stocks)
.do_.111.5
124.8
127.9
133.1
133.6
130.8
139.4
141.7
142.7
138.9
135.2
114.6
132.3
Consumer's goods (191 stocks)..
-do
130.0
150.7
154.0
161.9
159.5
159.2
170.1
172.0
166.7
162.7
159.3
136.9
107.2
Public utilities (28 stocks)...
.do..105.5
120.8
120.2
124.0
123.7
122.8
127.5
129.3
130.4
127.7
125.3
109.7
110.2
Railroads (20 stocks).
.-do.-..
113.3
154.2
157.1
164.3
159.8
153.6
156.8
157.2
161.8
153.6
147.1
119.0
Other issues:
125.2
107.5
126.1
118.9
108.5
124.3
121.3
116.6
116.5
118.7
Banks, N . Y. C. (IP stocks)
do.—
120.2
105.0
115.9
Fire and marine Insurance (18 stocks)
do
113.8
115.8
136.5
133.9
139.2
143.8
141.6
144.2
141.8
136.9
134.7
133.9
119.4
8ales (Securities and Exchange Commission):
Total on all registered exchanges:
Market Value.
thous. of doL. 1,118,029 1,796,416 1,745,468 2,373,016 1,930,314 1,479,956 1,869,130 1,774,725 1,409,683 1,223,124 1,163,594 1,902,701 1,296,542
Shares sold-...thousands.- 51,669 106,471
87,068 112,908
90,883
60, 203 72,096
70,514
56,794
47, 768 45,917 81,803 54,470
On New York Stock Exchange:
Market value
thous. of doL. 950, 904 1,438,500 1,410,635 1,947,730 1,574,139 1,217,019 1,504,771 1,427,037 1,149,180 1,014,338 982,460 1,616,615 1,103090
Shares sold...
..thousands.- 36,935
54, 218 48,656
71,761
52,604
36,606
47,002
46,326
35,865
32,188
32,196 60, 435 38,917
Exclusive of odd lot and stopped sales (N. Y.
34,151
20, 595 20,807 43, 450 30,384
Times).
_.
thousands.- 23, 819 40,406
34,093
25,664
30,410
21,717
51,510
31,427
Shares listed, N. Y. S. E.:
79,132
66,864 66,115
74,350
73,765
78,468
74,165
80,943 84,043
80,929
Market value, all listed shares
mil. of dol.- 65, 741 72,730
77,932
Number of shares listed
millions..
1,756
1,764
1,577
1,592
1,614
1,620
1,628
1,645
1,666
1,686
1,719
1,738
1,750
Yields:
4.4
3.9
3.7
3.6
3.4
3,5
3.7
4.6
3.5
3.8
3.5
4.4
Common stocks (200), Mcody's
...percent..
3.7
4.0
3.3
3.4
3.7
3.7
3.9
Banks (15 stocks)
.do
3.2
3.7
3.6
3.6
3.7
4.0
3.8
4.3
Industrials (125 stocks)..
do
3.6
3.6
3.4
3.6
3.4
3.3
3.2
3.4
3.5
3.8
4.1
4.4
3.2
3.2
3.6
3.5
Insurance (10 stocks)
do
3.0
3.6
3.2
3.1
2.9
3.0
3.0
3.1
3.0
4.7
4.1
4.0
3.7
3.9
3.9
4.2
4.6
Public utilities (25 stocks)....
.....do....
3.9
4.8
3.8
4.0
4.0
6.3
Railroads (25 stocks)
do
6.9
4.8
4.8
4.5
5.1
5.1
4.5
4.8
5.2
5.6
6.5
5.1
Preferred stocks, high-grade (15 stocks), Standard and
3.44
3.57
3.54
3.47
Poor's Corporation.
percent..
3.64
3.59
3.49
3.46
3.43
3.70
3.45
3.42
3.65
FOREIGN TRADE
INDEXES
Exports of U. S. merchandise:
Quantity
Value
Unit value
Imports for consumption:
Quantity
Value
Unit value
„
Agricultural products, quantity: §
Exports, domestic, total:
Unadjusted
Ad justed
Total, excluding cotton:
Unadjusted
.._
Adjusted
Imports for consumption?
Unadjusted
Adjusted
. . . 1923-25=100do
...do
259
do
____do__._
do
147
.1924-29=100do..._
.do
do
_
do...
.do
166
164
197
191
97
213
209
176
175
99
210
211
101
194
199
103
213
219
103
220
230
105
202
217
107
218
231
106
154
168
109
127
'142
112
113
98
87
88
139
125
91
108
96
90
128
117
92
135
123
92
131
122
93
123
116
95
138
131
95
130
130
100
119
118
100
120
'124
104
71
104
92
127
123
108
124
118
128
105
128
113
148
118
161
107
153
95
128
130
114
173
158
206
204
174
203
185
200
160
186
156
183
173
210
156
187
127
131
103
93
84
106
90
106
95
94
112
99
112
17,511
10,163
16, 808
9,101
19,026
10,112
15,408
9,891
13,314
10, 925
23, 534
12,464
24, 646
11,617
76
43
31
101
87
SHIPPING WEIGHT*
Exports, including reexports.._
General imports.
VALUE §
mil. of Ib_
do...
18, 898
10,909
17, 820
11, 544
15, 359
9,093
19, 275
9,679
•21,076
11,446
17,301
10, 561
Exports, total, including reexports
thous. of dol_. 987,056 638,937 736,139 798, 653 669, 861 815, 355 756, 820 850,554 877, 683 825, 570 882,993 '642,711 536, 746
12, 477
57,194 ' 37, 092 ' 33, 809
80, 442
96,325 116,215
66,614
Lend-lease*
do
r 7, 587
8,557 115, 250 187,438 130,391
By geographic regions:
27, 553
31,832 * 43, 805
16,081
46,932
50,627 ' 42,166
34,189
38,653
42,927
42,349
48,276
Africa
do
99, 470
67, 263
81,050 110,505 104,394 130,875 157,933 130,312 137,658
77, 563 111,346
82,907
Asia and Oceania...
do
265, 455 389, 904 404, 388 320, 438 391,882 339,184 383,383 370,669 379, 757 353,992 233,960 168, 582
Europe
_
.do
83,535 101, 556 106. 641 108,629 117,804 123,836 137.080 135, 651 158, 202
95. 840
87, 794
96, 427
Northern North America
«.
do
79, 293
77,094 r 96,168
73,395
72,017
82,936
77,594
88,859
84,999
72.612
72,610
70, 287
Southern North America...,
do
82, 593 113,215
66,948
53,313
71,511
80,200
92, 222 100,823
66,029
83,947
80, 935
82,097
South America.,
_
do
Total exports by leading countries:
Europe:
46,391
27, 530
21,190
67,936
89,369 ' 78,033 r 70,505 ' 62, 577 r 52, 796
53,672 '73,374
79, 483
France
_
_
...do
15, 636
8,518
11,098
2,331
3,515
531
549
7,983
1,131
7,212
1,646
354
Germany
. do .
31, 004
21,651
40,146
4,424
37, 234
26, 563
30, 803 ' 34, 507 ••41,809 r 35, 004 r 31,187
15,868
Italy
do
42,657
12,531
38,079
11,106
99,978
52,501
29,896
32,081 ' 30,187
30, 531 '48,090
Union of Soviet Socialist Republics (Russia)..do
6,165
70, 755
66, 699
73,160
46,037
72, 741
81,963
60,013 ' 86,163
63,033
68,094 ' 62,919
United Kingdom
do
33, 537
North and South America:
85,676
91, 740
82,216
98,137 103, 680 105,373 114,925 121,198 134, 236 133, 784 156, 252
Canada
„ do
93,797
Latin American Republics, total.
__do
140, 907 127, 050 146.540 132,008 154,136 150,753 167,342 180,272 151,903 199,474 137,166 121,665
13,064
19, 797
14,628
11,953
14,713
13,622
9,198
9.029
Argentina
_
_
do
5,809
7,724
10, 537
9,295
20,047
26,124
33,233
20,091
27,192
31,373
22, 441
Brazil
do
23, 872
22, 442
28, 053
28, 310
26, 494
5,734
5,645
7,730
3,605
5,401
7,437
Chile
do.._,
4,672
4,946
5,256
6,047
5, 763
6,280
9,124
10,998
16,382
3,010
8,801
10.708
15,106
Colombia*
_
_
.do....
9,602
12,138
7,656
12, 435
11,614
14,
884
24,
752
17,231
13,141
20, 368
22,779
Cuba__
_
_
do
19, 312
18,184
23, 491
20, 967
21,539
20,031
45, 744
38, 209
44,166
31,527
51, 572
42,481
33, 910
Mexico-..
_
do
28, 038
31, 750
39,207
31,681
37,969
11,093
13,103
19,980
13,315
20,124
8,075
17, 770
Venezuela*
do
16, 931
17,192
18,033
12, 583
15,353
r
Revised.
| See note marked " § " on p. S-21.
• New series. Data on shipping weight of exports and imports are compiled by the U. S. Department of Commerce. Bureau of the Census; they represent gross weight of merchandise exports and imports, including weight of containers, wrappings, crates, etc. Data beginning January 1943 will be published later. See p. 32 of the February 1946 Survey
for annual totals for lend-lease exports for 1941-45; complete monthly data will be published later; all supplies procured through lend-lease procurement facilities are shown as lend-lease
exports although, since the program officially ceased to operate at the end of the wai, the recipient nations had, with few exceptions, arranged to finance them priror to the exportation
of the merchandise. Monthly data prior to February 1945 for Columbia and Venezuela will be shown later.
January 1947
SUEVEY OF CUERENT BUSINESS
1945
1946
Unleee otherwise stated, statistics through 1941
and descriptive notes may be found in the Novem- Novem- Decem1942 Supplement to the Survey
ber
ber
ber
S-21
1946
January
February
March
April
May
June
July
August September
October
FOREIGN TRADE—Continued
VALUE §—Continued
Total exports—Continued.
Other regions:
Australia
..thous. of dol._
British Malaya
do
China. __
.
do
Egypt
_
do
India and dependencies
do
Japan
_
do
Netherlands Indies
.do
Philippine Islands
do
Union of South Africa
.do
General imports, total..
do
481,413
By geographic regions:
Africa
do
Asia and Oceania
do
Europe
-do
Northern North America. _
do
Southern North America
._
do
South America
do
By leading countries:
Europe:
France
do
Germany
_._
do
Italy
—do
Union of Soviet Socialist Eepublics
do
United Kingdom
do
North and South America:
Canada
do
Latin American Republics, total..
do
Argentina
...
.do
Brazil
do
Chile
do
Colombia* __
do
Cuba...
.do
Mexico..
_
do
Venezuela*
do
Other regions:
Australia
do
British Malaya
..._
do
China
do
Egypt
do
India and dependencies
do
Japan
do
Netherlands Indies
_
do
Philippine Islands
do
Union of South Africa..
.
do....
Exports of U. S. merchandise, total..do
965,263
By economic classes:
Crude materials
_
do
Crude foodstuffs
__.
.do
Manufactured foodstuffs and beverages
do
Semimanufactures
_
.do
Finished manufactures
_
.do
By principal commodities:
Agricultural products, total
_
do
Cotton, unmanufactured.
do
Fruits, vegetables and preparations
___do
Grains and preparations. _
_
__do
Packing house products
do
Nonagricultural products, total
do
Automobiles, parts and accessories
do
Chemicals and related products
do
Iron and steel and their products __
do
Machinery
do
Agricultural
.do.._
Electrical
do
Metal working
_
do...
Other industrial
__.do._.
Copper and manufactures._
_
do...
Petroleum and products
do...
Imports for consumption, total
do... 469, 741
By economic classes:
Crude materials
do...
Crude foodstuffs
do...
Manufactured foodstuffs and beverages
_do.__
Semimanufactures.. _
do.._
Finished manufactures
_
do...
By principal commodities:
Agricultural, total
do...
Coffee
do...
Hides and skins
do...
Rubber, crude including guayule
do...
Silk, unmanufactured
_
do...
Sugar
do.._
Wool and mohair, unmanufactured
do
Nonagricultural, total
do.
Furs and manufactures. _
_
do.
Nonferrous ores and metals, total
do...
Copper including ore and manufactures—do.
Tin, including ore
do.
Paper base stocks
do.
Newsprint
_
do.
Petroleum and products
_
do.
21,851
46,419
47, 555
73,627
45,323
62,412
14,113
78,866
r 45, 907
' 56, 431
48,846
73, 465
1,632
10
429
1,414
11,743
1,927
3
170
18,320
10, 338
1,478
15
732
8,597
' 9, 481
04,758
145, 475
16,744
• 42, 071
8,925
12,101
18,379
21,462
10, 595
• 55, 347
117,114
' 9.103
' 23,136
' 8,485
11,548
18,247
17,175
8.587
10,983
5,105
3,575
405
24,481
319
692
98
12,599
778,789
11,211 ' 7,657 ' 7,949
11,476
13,281
9,020
9,947
115 ' 4, 649
9 ? 112
9,946
' 7,495 ' 8,829
4,890
6,311
1,059
2,182
1,384
1,051
550
22,667
21,272 ' 23,878 ' 18,299 • 17, 571
10,697
14, 725 14,689
479
220
664
194
40
1,381 ' 2,189
2,597
1,552
945
1,717
524
9,717
12,435
10, 920
5,320 21,631
649, 096 786, 643 739,237 815, 034 858, 033
8,274
12,053
10,119
297,187
19,058
56, 589
42,343
76,449
48,397
79,584
1,752
14
1,505
855
3,434
74,408 76,948
117, 364 101,902
18,634
16, 784
24, 270 19,607
7,954
7,785
10,591
5,999
14,562 16, 001
17,426
18,922
7,775
7,402
10,468
0
179
352
17,182
3
106
161
10,038
612, 332
6,366
5,854
7,378
5,420
4,744
9,319
8,873
5,114
1,036
412
2,052
809
1,363
120
1,720
472
r
42,220
39. 944 24,670
24,313 37,024
38, 346 ' 58, 458 ' 58,139
1,891
3,025
2,684
3,494
2,938
4,124 ' 3,909
2,117
17,202
7,802 19,841
15, 543 16,763
7,172
12,487
13,504
16,946 20, 286 14, 217
8,304 16,977
1
2
2,762
10,
512 10,749
9,494
3,888
7,658
5,580 r 2,620
2,040
21, 251 17,823
25,132 25,652
' 23, 685 23,390
18,798
18,019
22,331 ' 22, 007 15,645 ' 25,219 13, 896
18, 391
14,991
19,598
317,628 384, 489 407,188 397, 381 385,943 433,758 425,682 377, 750
8,277
2,456
33,170
3,266
12,678
(•)
6,135
31,241
10, 651
393, 512
25, 004
82, 362
67, 431
07,198
51, 476
100,041
11,412
1,044
20,721
3,405
12,640
9,204
(a)
19.102
3,954
13,842
1
9,282
12,663
16,124
322,419
12,773
6,723
204
1,200
10,386
20
334
473
10,418
715,176
247,577
25, 218
26,799
69,691
50, 716
467,599
23,634
35, 278
34,446
135,405
10,792
27,470
28,696
65, 503
2,753
28,814
279,478
95,791
50,995
26,579
80,127
59,072
88,890
42, 443
24,529
68,171
55,446
r
r
22, 410
73,532
' 76,950
' 73, 437
' 66, 206
' 85, 081
' 20, 050 26, 954 33, 278
' 78,148 r101,100 90, 008
' 66,966 r 70, 420 r 63, 470
' 68, 375 r 80, 506 77,900
55, 649 69,097 r 62,454
' 96, 668 ' 85,174 97,400
4,794
3,573
5,007 ' 4,600
24
2,303
24
29
13, 880 ' 8, 099
1,246
'4,324
11,185 ' 7, 225
4,107
7,829
14, 605 ' 11, 391 • 14, 300 ' 15, 280 '
65, 465 • 70, 363
147, 431 152, 016
' 15,154 r 18, 445
• 29, 526 ' 33, 535
2,660
6,931
13,078 ••12,003
36,434
23, 521
19,936
25, 650
7,921
10,021
• 69, 525
145, 278
• 14, 870
' 30,983
' 7,831
7,964
32,168
' 17,167
10,090
' 66, 548
147,939
r
17, 454
• 40, 472
10,089
9,770
' 26, 620
' 16,184
8,041
6,441
18
6,591
7,823
12, 393
6,124
23
6,282
8,248
11,540
' 76,607 • 74, 597
147,154 153,870
r
14, 115 13,912
27, 227 45,971
3,418
8,149
14, 453 13, 048
33,151 r 25, 344
' 20,196 18, 374
' 8,373 10, 324
18,436
11,792
12, 656
651
9,456
11,095
2,753
4,402
14, 641
807, 478
803
20, 210
86, 352
58,273
80,982
50,473
79,030
24,662
78, 038
63, 968
89, 550
52, 310
84, 236
5,245
7,298
149
4,571
2,786
14,177
41
5,133
7,139
10,269
76,677
87, 377
123,034 132,643
10, 834 13,907
29, 870 30, 049
4,754
7,263
14, 224 11,644
19, 663 23, 936
14,922
18,140
11, 507 13, 644
14,983
17,116
8,284
14,479
6,534
8,041
2,892
1,345
17, 524 20, 593
2,780
12, 378
3,134
2,486
3,338
3,636
14,443
15,432
860,106 • 626,942
12, 710
19,795
7,123
1,779
9,290
2,276
6,609
3,635
13,904
528,764
105, 354
' 48,612
125, 186
' 79,979
380,127
116, 248 122, 544 120,122 138, 264 115,626
93, 601
39,118
' 34, 661 79.193 ' 53,962 52,531
29,008
81, 564 42,150
140,130 r134,521 165,170 116,815
' 82, 351 76,697 ' 71, 279 81, 382 61,278
50, 777
441,628 445,153 396,786 470, 037 329, 521 313,317
308,872 • 250,868 283,106
34,694
28,954
37,715
25,682
30,361
28,357
83, 514 72,652
68, 722
79,950
41, 595 48,072
•469,917 • 398, 227 1 503,538
26, 520 29, 730
23,691
35,676
37,919
44,342
26, 582 28,917
41,931
82,220 109,302
106,475
10,031
11,172
12,761
16, 532 20, 365
24,054
16,423
13,943
9,638
57,269
51,924
42,281
2,794
4,042
3,655
36,936
33,972 r 29,530
' 400,138 306,984 " 374, 042
251, 909
38,622
28,999
56,424
30,496
487, 350
36,277
46, 258
38,108
100,155
9,776
17,944
13,344
54,906
2,418
36,082
394,901
273, 498 304, 706
52,812
56,623
27, 760
24,456
42,271
48,135
49,376
541, 520 553, 402
43,463
48,830
46, 424
46,351
41,258 35, 709
111,204 125, 553
11,967
11,866
24,232 25, 381
17,176
16,892
52,980
66, 272
2,173
2,952
40,365
39, 040
• 389, 72^ 371,704
r109,142
' 58,958
' 28, 741
' 53, 459
' 57, 674
145, 793
' 69,467
' 38,823
' 68,192
' 72, 328
• 139,806 • 120, 612
' 62, 403 68,581
' 45,926 ' 40,120
'r 72, 284 ' 76,788
69,084 ' 64, 688
88, 227 70,407 r 94,617 ' 89,894
62,172 66,582 ' 70, 254 58, 304
84,067 140,226 • 177, 344 134, 964
70, 203 67,448 ' 73, 250 ' 59, 804
307,663 370, 512 363, 322 ' 306,128
205.599
34,082
16.947
70, 765
24,130
406, 733
24,073
38,028
37.948
78,715
11,070
13,866
6,531
44,084
3,727
28, 536
312, 565
38,747 rr 29, 031
73, 476 84,910
52, 082 rr 65, 674
67,835
70, 880
71,913 - 63, 543
80, 383 • 93,179
7,096
19,094
1,678
14,145
3,598
3,288
8,353
7,063
393, 736
-157,905
' 76, 352
32, 551
' 76,141
' 57, 705
111,758
62,051
148,432
'
68,115
1
396, 288
• 134,185
' 64, 604
46, 710
' 64,995
r 63, 291
121,007 108,799 •• 193, 959'149,648 ' 189, 587 • 195, 253• 185, 834 • 174,661
18,205
23,291
41,983
30,388 '36,010
46, 779
37,545
36,489
3,152
4,220
5,035
3,209
3,986
5,580
4,754
4,491
8,484 10,021
14,151
24,116
6,744
20,273
4,222
22,937
196
156
1,214
1,354
19,683
12,473
24,418
862
4,595
5,644
11,499
12,913
15,144
20,905
25,414 '15,046
21,787 20,070 ' 29,065 21,817
30,449 '23,959 '20,017
30,076
' 158, 327 ' 184,198 • 199, 350 ' 203, 669 • 196,127
191,558 170,680 '206,
9,599
13,992
15,365
35,004
11,472 ' 17,423 ' 24,728 19, 597
23,267
14,294
32,681
22,788
19,134 20,444 20,060
11,253
12,464
4,639
13,021
2,927
5,458
1,997
7,256
2,421
944
5,146
1,179
4,352
3,889 '3,910
3,011
16,650 18,098
16,942
11,691
9,700
13,967
9,854
11,638
13,152
14,809
14,996
14,930
16,795
18,073
20,687 ' 17, 382
17,006
11,708
13,421
11,200
10,235
11,095
11,320
13,380
• 291, 827
50,425
24, 571
66,010
47, 365
• 515,492
38, 297
40,378
35,301
119, 224
14,104
24,985
16,343
58,046
2,738
35,797
• 422, 019
161,910
53,051
52,755
84,399
67,992
252, 826 187, 322 121,475
58, 547 34, 316 17,101
13, 666 11, 523
17,911
61, 475 51, 543 29,643
35, 280 19, 263
4,338
606, 202 439, 786 407,379
42,862 39, 804
51,357
43, 827 30,257
27, 409
45, 639 30,847
26, 756
137, 475 83, 724 80, 327
12,044
17,074
12,677
32, 260 18, 581 23, 302
15, 360
7,977
9,477
66, 585 41,372
39, 558
3,534
1,994
1,205
43, 031 35,003
415,640 •378,550 27, 574
396,479
152,113 133, 740 136,989
58,981
59,012
72,193
43, 430 38, 599 39, 276
86,383
77, 710 75,726
73,819
68,749
68,432
189,643 201, 650 176,907 176,084
35, 361 32,080
47,886
31,844
7,079
7,724
6,647
6,920
14, 548 19, 654 22, 537 25, 562
3,211
745
14, 267 12, 631
12,052
16,159
10, 384
23,880
23,433
28, 530 25,411
20,160
230,463 212,228 198,889 219,395
8,355
30,427 22, 745
15,168
24, 511 21, 529 17, 364 25,445
6,513
7,907
4,945
8,969
898
6,261
6,036
3,800
19, 588 15, 357 14,026
15, 245
20,801
21,362
20,925
22,830
15,289
14, 748 15,026
13, 290
r Revised. • Less than $500.
§ The publication of practically all series on foreign trade included in the 1942 Supplement but suspended during the war was resumed in the May Survey. Export1 statistics
include lend-lease exports shown separately on p. S-20 (see note, marked " • " o n that page), shipments by UNRRA and private relief agencies, and since June 1945 comparatively
small shipments consigned to United States Government agencies abroad; shipments to U. S. armed forces abroad are excluded. Revised 1941 figures for total exports of U. S.
merchandise and total imports are shown on p. 22 of the June 1944 Survey; revised figures for 1942-43 for the totals and revised figures for 1941 and later data through February 1943 for
other series will be shown later.
•Monthly data prior to February 1945 for Colombia and Venezuela will be shown later.
S-22
SUEVEY OF CURRENT BUSINESS
Unless otherwise stated, statistics through 1941
and descriptive notes may be found in the
1942 Supplement to the Survey
Novem- Novem- December
ber
ber
1946
January 1947
1945
1946
January
February
March
April
May
June
July
August September
October
TRANSPORTATION AND COMMUNICATIONS
TRANSPORTATION
C o m m o d i t y a n d Passenger
Unadjusted indexes:*
Combined index, all types
1935-39=* 100Exeluding local transit lines.
do
Commodity
—do
Passenger
--do
Excluding local transit lines
do
By types of transportation:
Air, combined index
_
do
Commodity
do
Passenger
do
Intercity motor bus and truck, combined index
1935-39=100..
For-hire truck..
-do
Motor bus
__do
Local transit lines.
.
do
Oil and gas pipe lines...
..do
Railroads, combined index
do
Commodity
do
Passenger
...
do
Waterborne (domestic), commodity
do
Adjusted indexes:*
Combined index, all types
_
..-..do
Excluding local transit lines
do
Commodity
do
Passenger
do
Excluding local transit lines..
do
By type of transportation:
Air, combined index
__.
_.
do
Commodity
do
Passenger
do
Intercity motor bus and truck, combined index
1935-39 «= 100..
For-faire truck.
..
do
Motor bus
,
do
Local transit lines
__
do
Oil and gas pipe lines
„
do
Railroads. __-.
do
Commodity
do
Passenger. „
_
.do
Waterborne (domestic), commodity..
do
Express Operations
Operating revenue
_.thous. of doL.
Operating Income
—_.__..
do
Local Transit Lines
Fares, average, cash rate
--.centf-. 7.9666
Passengers carriedf
—
thousands.. 1,591,280
Operating revenuesf
tbous. of dol_.
Class I Steam Railways
Freight carloadings (Fed. Reserve indexes):
141
Combined Index, unadjusted.__
__. 1935-39=100-117
Coal
_do_
166
Coke
do..
148
Forest products
do..
144
Grains and grain products
do.
171
Livestock
do..
84
Merchandise, 1. c. 1
do.
169
Ore
do.
154
Miscellaneous
..do
137
Combined index, adjustedf
-..do
117
Coalf
do..
166
Coket
—
-.do..
151
Forest products
do..
147
Grains and grain productst
.do
136
Livestock!
.do.
83
Merchandise. 1. c. 1
___
do.
157
Oref
do.
148
Miscellaneous!
do.
Freight carloadings (A. A. R . ) i
4,220
Total cars
thousands..
712
Coal
do..
64
Coke
*
do.
222
Forest products
do..
248
Grains and grain products.—.
do
117
Livestock
do.
642
Merchandise, 1. c. 1
.do.
240
Ore
do..
1,974
Miscellaneous...
doFreight-car surplus and shortage, dally average:
12
Car surplust
thousands.33
Car shortage*
do..
Financial operations (unadjusted):
658,160
Operating revenues, total
_thous. of dol__ 522, 806
Freight
do
85, 510
Passenger
do
536, 081
Operating expenses
do
58. 005
Taxes, joint facility and equip, rents.
do
64, 074
Net railway operating income
do
204
208
183
273
194
197
167
283
414
196
199
175
266
370
200
202
181
260
351
201
203
186
252
329
174
172
151
251
324
176
175
158
233
294
204
207
189
256
343
204
208
188
254
348
835
904
789
775
862
718
738
691
770
773
648
855
823
633
921
631
1,113
990
676
1,197
1,041
561
1,358
1,027
548
1,344
225
215
258
178
202
213
185
432
206
189
264
175
201
202
166
472
91
219
206
260
179
208
200
174
402
225
211
270
184
218
201
180
362
104
230
217
271
188
200
204
189
321
94
244
237
268
190
202
152
133
304
94
247
240
270
182
197
154
142
252
104
248
230
308
183
200
198
185
299
132
251
232
313
176
193
199
185
305
135
203
206
178
283
411
196
199
170
279
410
202
205
181
269
380
204
208
186
263
367
206
209
190
257
347
177
176
154
252
335
178
178
160
237
304
202
205
188
250
203
205
189
252
323
860
904
831
823
862
797
706
812
648
920
841
633
978
908
631
1,091
969
676
1.162
561
1,269
988
548
1,280
221
206
268
178
199
212
180
458
205
189
260
170
194
204
170
462
109
232
217
280
177
197
204
178
403
124
235
21R
292
177
199
206
184
372
128
240
224
291
183
192
209
192
337
115
250
242
279
183
199
158
137
318
95
253
245
278
181
202
168
144
265
98
243
228
294
185
210
197
186
288
117
248
237
285
192
204
197
186
284
117
24, 826
29,141
83
24,532
72
23, 919
64
24,333
92
35,115
82
26,728
60
25,626
25,798
73
26,134
69
26,410
73
28, 084
69
7.8198 7. 8198 7.8641
7. 8641 7. 8669 7.8807
7.8641
7.8835
7. 9168
7.9638
7. 9638
7.9666
1,533,470 1,663,470 1,615,570 1,486,560 1,669,880 1,631,980 1,630,373 1,577,274 1,555,250 1,569,230 1,539,190 1,645.700
111,200 117,300 118,600 106,900 118, 700 118,882 119,800 117,000 116, 400 117,000 115,200 121,900
136
148
167
108
164
183
75
114
139
133
148
167
110
167
145
74
134
133
'4,011
r
867
'63
'162
'282
' 125
'572
'163
' 1, 776
11
10
119
133
172
94
144
135
71
36
123
127
133
164
106
153
140
74
117
130
123
148
133
109
152
120
74
29
123
133
148
127
122
152
126
78
118
134
119
152
114
121
147
126
75
24
113
126
152
107
126
150
158
78
94
121
132
155
166
134
130
111
79
35
136
139
155
165
134
141
140
78
121
143
107
26
93
143
99
127
82
50
141
109
26
95
143
112
143
81
66
143
107
68
61
130
111
103
74
103
125
106
68
62
125
126
114
74
66
123
137
146
138
155
128
96
81
213
139
133
146
140
149
126
118
81
137
135
3,546
794
66
143
253
96
544
54
1,597
2,884
685
43
128
207
65
448
34
1,273
2,867
740
32
146
209
73
471
25
1,171
3,982
938
66
208
237
79
620
50
1,785
2,605
126
30
177
140
71
516
53
1,491
2,616
327
19
159
154
59
468
108
1,322
4,063
787
49
234
222
67
619
283
1,801
143
145
172
153
166
135
263
142
139
145
177
153
139
166
78
164
141
145
152
177
165
142
113
77
243
146
141
152
184
157
131
118
77
162
145
149
160
181
166
140
120
79
245
150
138
160
183
154
125
91
75
164
139
3,407
668
52
181
228
74
471
289
1,444
4,478
925
70
254
255
80
611
347
1,936
3,517
743
55
197
191
63
477
269
1,521
78
r
149
155
180
154
142
197
82
216
151
139
155
183
146
142
128
79
157
139
3,680
755
57
192
'200
'112
519
249
1,597
15
16
18
23
106
18
5
3
2
2
5
9
1
2
14
24
21
31
7
7
661,181 613,691 640,872 579,136 646,099 566, 702 632,553 611,939 674, 040 710, 224 660, 402 709, 938
463,682 401. 256 453,399 421, 243 483, 776 411,819 399, 215 458, 484 513, 252 546,130 515, 623 566, 968
145,555 161,134 137,602 114,655 114, 562 106,082 92, 233 106,604 112,383 112,115
95, 361
89, 345
548,561 963,331 490,059 450, 228 627,890 508,097 492,201 516,856 542,164 555,892 529. 798 558, 424
' 51, 906 '812, 788 79,964 71,104 38, 669 48,476 45,132 57,003 69,069
63, 241
72,638
66, 395
'60,714 * $6,909 70,848 57,805 '20,469
10,128 '4,780
62, 806
81, 693 r 67, 362
85,119
34,384 '74,656 33,887 28,589 " 48,826 ' 20,99S '87,074
32,051
52,
544
39,
070
57,
280
N e t income*
do..
34,384 '74,656
33,887
28,589 '48,826
'20',993
'87,074
14,620
f
d
Revised.
Deficit.
tData for November and December 1945 and March, June, August, and November 1946 are for 5 weeks; other months 4 week c ;
•New series. Data for 1929 to August 1942 for the transportation indexes are available on pp. 26 and 27 of the May 1943 Survey, except for subsequent revisions in the 1940-42
data for local transit lines and oil and gas pipe lines, 1942 data for waterborne, and small scattered revisions in the totals including these items (revisions are available upon request)'
computation of these indexes has been discontinued. Comparable data beginning January 1943 for freight-car shortages and surpluses and an explanation of the change in the latter
series are available on p. S-21 of the December 1944 Survey.
fSee note marked "*" regarding revisions in the data for car surpluses. The indicated seasonally adjusted series for freight carloadings, as published prior to the October 1943
Survey, have been revised beginning 1939 or 1940; all revisions are available on request. Beginning in the April 1944 Survey, revenue data for local transit lines cover all local transit
lines, including all common carrier bus lines except long-distance interstate motor carriers; similarly, data for passengers carried, beginning in the May 1945 issue, represent estimated
total revenue passengers carried by all local transit lines; revised data beginning 1936 will be published later.
{Revised data for net income October 1945, $19,225,000.
January 1947
SUEVEY OF CUKEENT BUSINESS
Unless otherwise stated, statistics through 1941
and descriptive notes may he found in the
1942 Supplement to the Survey
Novem- Novem- December
ber
ber
1946
S-23
1946
1945
January
February
March
April
May
June
July
August
September
October
TRANSPORTATION AND COMMUNICATIONS—Continued
TR AN SPORTATI ON—Continued
Class I S t e a m Railways—Continued
Financial operations, adjusted:!
Operating revenues, total
Freight.
Passenger
Railway expenses
_
Net railway operating income
Net income
Operating results:
Freight carried 1 mile
_
Revenue per ton-mile
Passengers carried 1 mile
Waterway Traffic
Clearances, vessels in foreign trade:J
Total, U. S. ports
_
Foreign
United States
_._
mil. of dol.
do...
do
_
do...
do...
_
do...
668.5
465.0
152.2
607.8
60.6
29.7
628.3
423.2
158.1
674.0
4 86.0
'56.0
654.6
459.9
143.6
566.7
87.9
50.9
635.2
458.7
127.1
655.3
79.9
61.2
651.2
485.8
115.9
667.4
'16.2
565.7
405.2
109.8
561.6
4.0
'£7.8
515.0
381.4
mil. of tons.
..cents.
millions.
53,492
.932
7,956
49,843
.867
8,572
52,076
.940
7,454
48,735
.935
6,079
56,510
.924
5,955
39,841
1.101
5,472
thous. net tons.
do
.60...
7,679
2,359
6,220
6,061
1,791
4,270
6,378
1,722
4,656
6,844
1,655
4,289
6,483
1,735
4,748
6,199
2,029
4,170
20,103
5,109
723,247
328,600
19,640
6,273
647,518
308,736
4.31
94
223
4.12
4.17
92
204
4.12
93
205
16,079
14,185
1,838
4,421
12,913
132,316
18,740
17, 556
1,289
4,644
11,972
62,090
21,080
20,866
1,027
5,604
10,708
78,221
27,340
26,795
859
9,675
8,667
99,338
Travel
Operations on scheduled air lines:
Miles flown _.
thous. of miles__
Express carried
thous. of lb._
Passengers carried
_
number..
Passenger-miles
flown
thous. of miles.
Hotels:
Average sale per occupied room
dollars.
Rooms occupied..
percent of total..
Restaurant sales index
__avg. same mo. 1929=100.
Foreign travel:
U. S. citizens, arrivals
.number.
T7. S. citizens, departures
_
do
Emigrants
._
do-_.
Immigrants
do
13, 500
Passports issuedc?
...do...
National parks, visitors
.
number. 118,066
Pullman Co.:
Revenue passenger-miles
thousands.
Passenger revenues
thous. of dol.
COMMUIVICATIONS
Telephone carriers:1
Operating revenues...
.
thous. of dol__
Station revenues.—
_.
do...
Tolls, message
do...
Operating expenses
do...
Net operating income
_
.do...
Phones in service, end of month
thousands.
Telegraph and cable carriers: §
Operating revenues, total
thous. of dol.
Telegraph carriers, total
_
...do...
Western Union Telegraph Co., revenues from
cable operations
_
...thous. of dol..
Cable carriers
do.
Operating expenses
_
do.
Net operating revenues
do.
Net income trans, to earned surplus
_
do
Radiotelegraph carriers, operating revenues
do.
638.7
488.6
102.9
586.1
52.6
19.8
650. 8
500.0
103.0
602.5
48.3
16.1
664.3
512.6
100.0
613.3
51.0
18.4
672.8
528. 5
95.7
604.6
68.2
'36.5
663.1
521.8
91.3
606. 0
57.1
25.4
42,406
1.012
4,726
63, 524
.921
5,387
55,236
.989
5,720
59, 466
.979
5,712
56,399
.975
4,927
60,848
5,825
2,126
3,699
7,202
2,179
5,022
7, 518
3,033
4,485
8,025
3,323
4,701
r 6, 220
r 2, 775
r 3, 445
4,986
2,959
2,027
93.3
524.5
'9.5
20,452 19, 783 23,164 24,108 26,019 26,515 27,796 28, 749
27,988
27,971
9,911 11,994
6,429
8,722
6,746
15,008
18,275
7,232
8,204 10,909
727,279 723,187 917,645 1,057,641 1,150,846 1,299,480 1,340,733 1,493,137 1,428,444 1,287,338
331,056 332,315 408, 201 463,294 514, 999 565,087 573, 693 628, 038 616,961 563, 229
8.95
93
235
4.20
94
250
4.23
89
232
4.45
96
254
4.33
94
230
4.36
95
226
35,092 29,941
28,106 27,009 29,330
25,912 23,945 23,064 27, 708 34,211
1,772
2,907
2,166
1,138
1,716
18,047 19, 390 16,859 13,451 13,651
12,986 15,047 22,091 21,802 22, 437 18, 505 14, 536
129, 260 187,377 276,674 621, 794 1,075,421 1,152,584 695, 958
14,470
271, 570
3.97
95
210
4.38
94
226
2,626,314 2,419,033 2,663,744 2,082,683 2,196,055 1,899,120 1,628,4*6 1,774,797 1,666,970 1,637,261 1,499,617 1,408,912
12,094 10,928
9,903
9,458
10, 951 10, 373 10, 470
13, 217 12,855 13,488 11,084
181,325 187,183 187,610 179,327
96, 523 99,127 100,993 98,822
70,768 73, 711 72,357 66,340
125,329 138,955 130,473 129,442
23, 744 53,074 27,962 23,548
25,184 25,446 25,747 26,067
187,727 189,254 193,981 190,708
101,773 103,625 104,536 104,153
71,762 71,230 74,922 71,898
141,197 141,053 146, 986 143,153
21, 226 23,910 23,211 23,614
26,435 26,782 27,086 27,340
192,187 194, 230
103,589 103, 726
73,777 75, 726
154, 214 152, 346
18,359 20,846
27,608 27,908
191. 642
105,054
71,612
147, 636
21,171
28,156
17,366
16,197
19,191
17,667
14,764
13,583
13,891
12,777
15,815
14, 496
16,064
14,807
16,836
15, 546
16,677
15, 521
17,915
16,673
17, 573
16, 437
16, 568
15,372
17, 590
16, 275
750
1,169
19,187
'8,686
'6,812
1,966
961
1,524
14, 789
2,155
2,609
2,274
507
1,171
14,877
'2,001
'2,44S
1,908
587
1,114
13,654
'1,609
* 2,075
1,787
712
1,319
14, 514
'568
'795
2,119
678
1,257
14,078
70
'886
2,077
649
1,290
14,495
404
571
1,156
13,525
1,242
871
1,661
594
1.242
14, 525
1,155
700
1,618
554
1,136
19, 838
<* 4, 621
d 8,089
1,667
568
1,196
15,453
d865
* 1,193
1,517
582
1,315
15,673
'8U
1,927
dS89
1,641
CHEMICALS AND ALLIED PRODUCTS
CHEMICALS
Selected inorganic chemicals, production:*
Ammonia, synthetic anhydrous (100% NH3)®
short tons__ 80, 380
41,384
39,738
44,271
45,298
45,557
43,358
34, 511 1 60,609
65,048 1 75,794
77,492
80,829
Calcium arsenate [100% Ca3(As04)2]
thous. of lb__
1,916
1,330
1,403
952
1,139
1,610
3,256
3,192
4,116
6,438
8,081
2,608
(•)
Calcium carbide (100% CaCj)
short tons.. 55, 312
44,610
41,364
45,192
40,316
44,460
40,014
43,124
57, 074
36, 761
48, 716
53,940
53, 399
Carbon dioxide, liquid, gas and solid (100% C0 2 )O
54,169
thous. of lb._ 62, 048 57,923
56,078
65,337
51,427
75,334
75,176
78,545
88,137
96, 571
78,786 ' 74, 890
Chlorine
short tons.. 97,186
91,461
94,784
89, 707
84, 741
96,439
94,865
89, 947
96,420
98,314 102, 550 104,199 '108,174
Hydrochloric acid (100% HC1)
d o . . . . 30,150
30,026
28,990
26,822
26,791
26,805
26,867
26,331
27,438
27,960
29, 519
29,789
32,394
Lead arsenate
_
thous. of lb__
2,259
2,865
4,225
5,514
6,421
7,567
8,755
8,665
7,810
4,874
1,848
253
1,624
Nitric acid (100% HN0»)®
short tons.. 63, 277
34,769
31,352
33,033
31,123
30,899
31,311
32,538 155,418
59,144
57, 066
54,136
61, 686
Oxygen
mil. cu. ft..
1,006
873
891
716
606
951
885
836
869
904
1,008
997
1,061
Phosphoric acid (50% H1PO4)
short tons.. 2 82,419
70,409
68,452
69,525
62, 573
68,231
74,600
68,689
61,858 2 74, 574 2 73,795 • 280, 673
70,740
Soda ash, ammonia-soda process (98-100% Naj COs)
short tons__ 368, 302 355,039 379,786 387,012 342,625 380,489 342,749 303,174 308,623 361,056 364,178 358, 628 382, 026
Sodium bichromate
do
7,066
7,159
6,999
6,769
7,735
7,134
7,777
7,837
7,096
6,285
6,864
7,254
6,601
Sodium hydroxide (100% NaOH)
_
do
153,282 148,194 153,395 154,349 143,248 160,009 151,332 139, 276 148,741 160,347 163,615 164,631
Sodium silicate, soluble silicate glass (anhydrous)*
34,524
29,276
32,494
short tons.. 34, 442
28.781
32,182
29,914
29,198
34,912
39,152
34, 714
36,915
41,188
Sodium sulfate, Glauber's salt and crude salt cake
52,481
63,928
50,710
57,738
53,818
59,262
63, C83
short tons..
59, 625
61,679
55, 669
58,200
56,988
57, 346
Sulfuric acid (100% H a SO 4 )e
do..._ 849, 711 705,953 745, 554 743,904 665,177 764,996 804,285 780,702 733,241 736, 242 762,674 764, 592 834, 215
Alcohol, denatured:J
Consumption (withdrawals)
thous. of wine gal
19, 744 * 15, 462
11,486
12, 753
10,817
13,530
16,119
14,647
15,717
14, 770
21, 291
17,610
18,946
Production
do
12,313
11,617
19,625 ' 13,058
11,894
13, 852
12,382
14,831
16,044
18,913
13,229
16,019
10,017
Stocks
do
2,744
2,633 ' 18,846
18,396
18,549
17,802
16,224
13,306
10,007
8,962
9,642
8,082
5,131
r
l
2
Revised.
See note marked " ® " .
Includes data for 1 company which did not report prior to August 1946; revised data for earlier months will be shown later.
<g)Data for nitric acid and synthetic anhydrous ammonia include operations of 2 plants beginning June 1946 and for the latter, 1 additional plant beginning August 1946, which
did not report previously; production of the plants involved was classified as military prior to the months indicated and was not included.
* Deficit.
cTIncludes passports to American seamen.
©For 1944 revisions see August 1945 Survey.
• Not available for publication.
^Data relate to Continental United States.
§Compiled on a new basis beginning 1943; see April 1944 Survey for 1943 data and sources of 1942 data.
©Data have been shown on a revised basis beginning in the March 1945 Survey.
• Data were revised in the September 1945 Survey; see note in that issue.
JData continue series published in the 1942 Supplement but suspended during the war period; data for December 1941-February 1945 will be shown later.
fData have been shown on a revised basis beginning in the June 1944 Survey; revisions for January 1937-February 1943 are available upon request.
•New series compiled by the Bureau of the Census; see pp. 23 and 24 of the December 1945 Survey for data through December 1943 except for carbon dioxide, sodium silicate
Digitized forsalcium
FRASER
arsenate, and lead arsenate; data beginning 1941 for these series will be shown later.
SUKVEY OF CUREENT BUSINESS
S-24
1946
1945
Unless otherwise stated, statistics through 1941
and descriptive notes may be found in the Novem- Novem- Decem1942 Supplement to the Surrey
ber
ber
ber
January 1947
1946
January
February
March
April
May
August September
October
June
July
18,600
110,539
37,014
73, 525
22,832
3,579
16,619
98, 545
34, 239
64, 306
27, 377
4,684
19, 981
86,474
31, 788
54, 686
29, 267
5, 733
17, 796
72,368
28, 779
43, 589
29, 274
4,364
18, 743
58,189
29, 512
28,676
34,938
5,284
CHEMICALS AND ALLIED PRODUCTS—Continued
CHEMICALS-Continued
Alcohol, ethyl: •
Production.._
thous. of proof gal_.
Stocks, total
do
In industrial alcohol bonded warehouses
do....
In denaturing plants..
do
Withdrawn for denaturing
do....
Withdrawn tax-paid
do
Glycerin, refined (100% basis):*
High gravity and yellow distilled:
Consumption
thous. of lb_.
Production.
do
Stocks
do
Chemically pure:
Consumption
.do
Production
do
Stocks
do
Other selected organic chemicalg, production:
Acetic acid (synthetic and natural)*
do
Acetic anhydride*
do
Acetyl salicylic acid (aspirin)*
do
Creosote oil*
thous. of gal..
Cresylic acid, refined*
thous. of Jb..
Ethyl acetate (85%)*
do....
Methanol: §
Crude (80%)
.thous. of gal..
Synthetic (100%)
do....
Phthalic anhydride*
thous. of lb._
21,682 22, 697 25,637
21,991
18,025 21,557
42,351 127, 687 111,493 122,891 123,951 121,654
26,751 '41,210 42. 030 40, 320 43,131 37,570
15, 600 '86,477 69. 463 82, 571 80, 821 84,083
36,086 24,070 37, 965 21,393
18, 532 22,081
6,118
3,023
4,561
5,202 '4,459
4,276
24,902 19,475
118,318 113,169
39, 294 36,369
79,025 76,799
24,429 25,643
4,411
3,809
5,244
5,832
12, 709
6,395
5,612
15,901
5,825
5,234
15,135
6,010
5,010
15,864
5,588
5,323
17, 591
6,431
5,373
19,347
6,489
5,780
18, 700
6,440
5,687
18,297
6,865
5,319
16, 591
6,175
4,118
14, 821
6,286
5, 211
13, 234
6, 089
4,621
12,805
5,395
4,638
12, 207
5,263
5,126
18,054
7,143
7,750
18,346
6,109
6,391
17, 596
6,336
7,636
16,941
5,446
7,741
19,028
5,777
8,992
18, 634
5,568
8,000
19, 708
5,800
8,024
20,881
5,379
7,634
21,894
5,249
5,558
21,122
5,745
6, 864
22, 017
4,924
6,594
22, 539
5,820
6,136
21,130
22,063
46,241
966
13,747
2,573
24, 322
44, 294
910
12,059
2,108
7,110
22,983
45, 733
986
12,736
1,529
6,421
23,143
38,330
934
10,024
1,292
6,412
26, 746
44,027
976
13,403
2,169
7,751
25, 529
44, 790
1,014
13, 697
2,035
7,610
23,266
40,757
975
11,492
1,362
7,180
26,013
42, 546
676
12, 788
1,903
6,542
26, 331
44, 521
572
13,127
2,181
9,877
26, 060
39, 954
460
13, 867
2,339
8,122
24, 589
41, 209
574
13,908
2.284
7,334
27, 787
46, 376
710
16,352
2,456
8, 745
253
5,680
7,881
295
6,823
8,555
264
7,237
9,061
231
6,259
7,094
248
6,991
9,777
231
6, 616
9,217
260
1,119
8,128
248
5,878
7,739
250
6,753
8,921
245
6,823
8,467
230
6,592
9,334
276
6,593
9,276
1,079
355
446
501
Consumption, Southern States©..thous. of short tons..
115,015
Exports, total ® long tons._
98,148 86, 569
25,709
Nitrogenous <g>
do
32, 448 11,317
79,026
Phosphate materials ®
do
55,026 65,032
716
2,757
Prepared fertilizers ®
do
362
64,0%
Imports, total ®._
do
68,949 119,409
55,698
Nitrogenous, total ®
do
56,174 100,118
14, 556
Nitrate of soda <g>
_
do
13,030 47, 862
8,958
4,444
Phosphates ®
do
4,454
3,929
0
Potash ®
do
3,000
Price, wholesale, nitrate of soda, crude, f. o. b. cars, port
1.650
1.650
1.650
1.900
warehouses O
dol. per 100 lb..
81,185 95, 769
68,408
Potash deliveries
short tons..
Superphosphate (bulk):f
750,390 718,023 656,425 717,426
Production
do
736,559 898,541 904,994 916,458
Stocks, end of month
do
1,272
114,932
28, 866
74,787
348
83, 893
66,025
22,437
10, 438
200
1,309
84,171
13,214
63,789
558
126,525
110,854
65, 227
971
1,350
745
97,079
13, 501
73,022
2,984
127,231
113,528
69, 553
714
404
85,191
15, 261
64,989
505
129,963
109,104
79,379
8,055
1,000
237
85, 783
13,629
68,202
313
114,554
105,132
83,556
2,210
0
206
220
110, 519 101, 575
19, 801 13,170
83, 362 80, 510
534
776
72, 409 95, 356
59, 598 88, 802
28, 279 13,521
8,996
3,040
0
0
388
80.934
7,388
63, 466
809
69, 266
63, 877
11,716
1,463
0
520
95, 831
2,871
86, 826
253
80,941
67, 573
26.929
7,809
0
1.650
73, 577
1.650
85, 314
1.650
79, 778
1.650
60,172
1.650
77,868
1,900
69,690
1,900
765, 314 687,926
523,999 515,390
625,008
643,662
263
FERTILIZERS
702, 564 716, 775
847,990 675,130
1.650
73,575
1,900
72, 345
657,594 697, 618 721,475 •1754,215
712, 244 714, 576 709,781 '1667,912
MISCELLANEOUS
Explosives (Industrial), shipments
thous. of lb__ 45,300 37,543
Gelatin: d"
3,311
'3,339
Production, total*....
do
2,055 '2,263
Edible
do....
'4,788
4,185
Stocks, total*
do
1,824 '2,372
Edible..
do....
Rosin (gum and wood):
Price, gum, wholesale " H " (Sav.)f bulk
6.76
7.83
dol. per 100 lb__
Production*..
drums (520 lb.)__
Stocks*
do
Turpentine (gum and wood):
.82
1.30
Price, gum, wholesale (Savannah)t
dol. per gal..
Production*
bbl. (50 gal.)..
Stocks*
do
Sulfur:*
Production,
long tons.. 355,179 323, 738
5,874,808 1,916,334
Stocks
do
34,745
35,935
36,268
33, 336
43,584
47,122
42,190
47, 327
50,307
51,187
3,350
2,142
5,330
2,459
3,383
2,057
5,413
2,346
3,612
2,439
5,647
2,505
3,919
2,541
6,139
2,763
3,784
2,318
6,126
2,716
3,825
2,271
6,321
2,695
3,173
2,038
6,201
2,652
2,851
1,932
5,993
2,628
3.246
2,166
5, 384
2,180
2,782
1,900
4,999
2,315
3,175
1,652
4,043
1,743
6.76
375, 501
479,890
6.76
6.76
6.76
302,054
388,682
6.76
6.76
6.76
416,690
364,179
6.95
6.76
7.40
489, 676
402, 513
.83
121,099
150,098
.84
.84
.84
85,908
100, 749
.84
.84
.84
145, 477
77,440
.96
.84
1.00
167, 933
90,167
1.05
331,843 318. 722 286,316 281, 490 284,473 305,330 304, 472 347,936 356, 355 335,300 333,041
4,003,917 4,060,461 4,063,286 3,978,735 3,892,982 3,873,962 3,861,525 3,849,067 !,850,958 3,881,397 3,983,973
OILS, FATS AND BYPRODUCTS
Animal, including fish oil:
Animal fats:J
Consumption, factory
Production
Stocks, end of month
Greases: t
thous. of lb._ 97,477
260,976
do
179,567
do.
111,115 95, 487 112,173
232,66fi 258,941 236,879
200, 043 231,504 255,195
117,133
291,151
274, 512
115,984
208,385
264,817
119,264
194,656
251, 468
117,782
201,757
204,982
102, 231 97, 229 95, 743 86, 595 73,125
136,182 193, 029 194, 810 61,731 135,936
162,986 180,883 171, 286 145, 205 135, 550
39,291
43,590
35,557
40,658
40,348
50,012
49,895
49,933
44,982
40,238
46,764
39,550
42,106
Consumption, factory
do.
46,000
44,516
45,673
48,141
53,213
49,360
47,908
47,633
38,078
45,042
43,879
27,698
36,666
Production
do,
63,123
65,397
72,316
81,423
91,807
92,996
96,189
95,171
90,569
103,285
92,241
78,390
63,173
Stocks,
end
of
month.
do.
r
Kevised. ©Excludes data for Mississippi, which has discontinued monthly reports; data prior to March 1946 shown in the September Survey and earlier issues include this State.
* Includes data for two companies which did not report prior to August 1946, and beginning September 1946, one additional company which did not report previously.
O For a brief description of this series see note in April 1946 Survey. JSee note marked " i " on p S-25.
§ See note in the April 1946 Survey with regard to differences between these series and similar data published in the 1942 Supplement to the Survey.
• Data for ethyl alcohol, except stocks at denaturing plants, continue data published in 1942 Supplement to the Survey but suspended during the war period; data for January
1942 to February 1945 will be shown later; the comparatively small stocks of ethyl alcohol at denaturing plants prior to 1942 were not reported. Data for production of spirits and
unfinished spirits at registered distilleries and stocks of such spirits, which were shown here in the May to October 1946 issues of the Survey, are now included with figures for distilled spirits on p . S-26. Production of such spirits from early 1942 through August 1945 represented primarily production for industrial purposes under the Acts of Jan. 24 and Mar.
27,1942; only 2,022,000 proof gallons of spirits were produced for industrial purposes in September 1945; thereafter production has been substantially for beverage purposes. The figures
shown above for production of ethyl alcohol are net after deducting products used in redistillation; in the May-October 1946 issues, products used in redistillation were excluded from
the combined
total for ethyl alcohol and spirits but were not excluded from the separate figures for these items.
d1 Data for gelatin cover all known manufacturers; the series for edible gelatin continue data published in the 1942 Supplement; the totals Include technical, pharmaceutical and
photographic in addition to edible gelatin? data prior to March 1945 will be shown later.
® Data continue series published in the 1942 Supplement but suspended during the war period; data for all series for October 1941-February 1945 will be published later. (Corrected data for 1937-July 1945 for total and nitrogenous fertilizer imports will also be shown later; tankage not fertilizer has been excluded).
•New series. For a brief description of the series on glycerin, see note in November 1944 Survey. For data through December 1943 for the other indicated chemical series, see p. 24
of the December 1945 Survey. Data for production and stocks of rosin and turpentine are from the Department of Agriculture and represent total production of gum and wood
products and stocks held by producers, distributors and consumers. These series have been substituted for data formerly shown for three ports, which have declined in importance;
data beginning in 1042 will be published later. Data for 1940-43 for sulphur are shown on p. 24 of the May 1946 Survey. See note marked "<?" regarding the new series for gelatin.
t Revised series. See note in November 1943 Survey regarding change in the turpentine price series beginning in the April 1943 Survey and superphosphate beginning
September 1942.
January 194t
SURVEY OF CURRENT BUSINESS
CJnlees otherwise stated, statistics through 1941
and descriptive notes may be found in the
1942 Supplement to the Surrey
Novem- Novem- December
ber
ber
1946
S-25
1946
1945
January
February
March
April
May
June
July
August September
October
CHEMICALS AND ALLIED PRODUCTS—Continued
OILS
FATS, AND BYPRODUCTS—Continued
Animal, including fish oil—Continued
Fish oils:*
28,114
18,976
22, 577 19, 493 16,072 16,224 14,931
Consumption, factory
__
thous. of lb_
14, 525 13,319 13,408 15,647
15,465
17,028
10,812 16,955
6,105
3,718
648
Production.,
do___
903
2,173
831
13,876 27,874 24,870 21,540
18,726
Stocks, end of month
_
.
d o . . . 114, 682 132,246 118,149 97,468 83,822 73,676 60,842 55,484 58,906 79, 276 93, 304 108,211 121,676
Vegetable oils, total:
335
387
369
345
416
365
219
Consumption, crude, factory
mil. of lb_
296
268
368
330
264
255
22,902
6,829
3,301
3,490
29,776 31,605
17,457 16,817
8,361
7,660
Exportso?
_
thous. of lb.
9,915
14,103
5,034 37, 253
2,906 22,283
6,438 12,351 17,863 ' 12, 001 25,107
Imports, totalcf—
do...
17, 392 13,492 11,420
6,883
1,198
1,102 19,149
23,722
8,290
5,077
3,559
6,232 19, 365
11,085
Paint oilscf
—
—
...do...
9,445
4,537
3,836
1,804
13,532
3,134
4,061
5,742
8,415
2,879
All other vegetable oilsd1
do...
6,778 ' 5,769
7,947
261
431
374
407
327
261
390
Production
...mil. of lb.
235
279
287
255
318
Stocks, end of month:
725
724
519
669
647
604
546
503
521
740
515
Crude.
..do...
499
413
463
548
247
535
544
407
502
321
267
Kefined
do...
250
475
Copra:
2,840
8,943
13,921
9,393
Consumption, factory^
short tons.. 15,949
17,488 21,408 20,239 31,294 37,510 36,278
18,871
<)
1,437
11,426 15,965
11,724 22,788
18,129 34,238 42,846 36,975 34, 742 27, 381
Importso"
do
8,591
2,083
8,925
12,180
33,074
6,122
Stocks, end of monthj
_
do
15,432 24,333 37, 710 48, 551 38, 662 12,964
13,889
O)
Coconut or copra oil:
Consumption, factory:t
12,545
Crudethous. of lb_. 38, 577
11,490 12,919 14, 243 12,748 20,334
19,695 24,888
14, 218 30, 709 42, 707 49, 747
4,671
6,323
4,179
Refined
_
do
17,236
4,307
4,804
8,571
7,758
7,161
8,148
16,055 20,437 27,724
594
229
0
Imports^1
_
do
0
133
0
546
0
0
945
5
121
Production:
3,597
18, 827
11, 430 12,016 17,557 23,988 22,353 27,188 25,247 39,614 47, 417 45,306
Orudetdo
()
4,635
4,689
16, 305
3,371
3,679
Refined
do
5,043
8,173
12,729
8,737
16, 603 22, 815 26,614
8,504
Stocks, end of month :t
Crude
do.— 77,793 133,713 125,169 120,694 114,103 120,045 119,090 108,493 85,537 92, 366 100,880 105, 974 95,441
2,199
1,505
9,622
1,832
Refined
do_._
1,882
2,038
9,257
5,475
10,258
3,125
10, 541
8,607
7,780
Cottonseed:
462
228
54
42
525
285
443
'561
Consumption (crash)
thous. of short tons..
103
163
227
515
152
Receipts at mills
do
133
116
328
703
9
60
33
9
446
1,070
111
'768
r
634
Stocks at mills, end of month
do....
482
944
1,091
370
241
100
118
147
359
914
1,070
140
Cottonseed cake and meal:
Production
_
...short tons.. 232,892 r249, 359 194, 227 203, 319 125,542 100. 544 68,680 44, 252 23,303
18, 234 37,972
228,936
Stocksat mills, end of month
___do
53,030 52,827 61,072 56,001
80,913
65,571
48,616 45, 738 40,314 31,628 27,765
52,276 58,277
Cottonseed oil, crude:
72,347 50,834 32,626
Production
thous. of lb.. 164,961 175, 473 137,976 143, 349
13,518 26,021
69, 807 160,011
16,781
Stocks, end. of month...
_
do
91.650 63,563 43,994 24,542 23,333 27,114 63,245 93,603
101,983 110,135 114,477 128,166 105,255
Cottonseed oil, refined:
73, 760 64,008 84,004 84, 568 77,416 84,414 84, 768 67,513 65, 774 82,163 61, 321 93, 543
Consumption, factory t
d°
129,160
18,491
In oleomargarine
do—
15,542 16,144
13,504 16,132 16, 501 13, 461 22,832
16.482 15,042 18,794 18,034
Price, wholesale, summer, yellow, prime (N. Y.)
.143
.262
.143
.143
.163
dol. perlb..
.143
.143
143
.143
.143
()
()
Production...
thous. of lb. 138,120 149,681 119,752 112,067 109,495 77,837 69,571
48,258 33, 457 14,982 21,354 26, 591 116, 300
Stocks, end of month.
do... 165,735 307, 372 359,143 386,122 406,486 404,645
353,322 316,186 263,154 197,152 157,322 165, 771
Flaxseed:
432
642
592
286
179
Importsd"
thous of bu
796
788
97
377
Duluth:
175
114
2,566
116
40
Receipts
do...
142
496
1,938
114
278
883
591
210
231
2,417
17
210
Shipments
_
.do...
1,396
1,336
482
288
751
0
629
387
133
1,279
175
2,231
1,194
292
Stocks
do...
1,274
1,175
1,134
496
1,315
448
652
194
Minneapolis:
554
1,670
Receipts.
do...
362
323
783
1,877
365
233
468
3,174
2,752
2,725
1,218
225
173
248
165
Shipments
_
do...
1,941
68
210
197
134
751
547
481
5,026
2,576
3,355
4,594
261
Stocks
—
do...
3,905
4,078
1,691
620
1,042
3,219
1,202
3,967
Oil mills:*
3,692
Consumption
do...
2,284
2,015
3,606
2,317
2,091
3,239
2,777
2,046
2,470
2,343
2,150
2,789
Stocks, end of month
..do
2,739
2,846
5,546
2,636
6,751
2,849
2.306
2,789
4,260
2,495
3,644
3,309
3,488
3.79
3.10
3.10 4 3.10
Price, wholesale, No. 1 (Minneapolis) dol. per bu__
3.10
3.35
7.26
3.10
3.27
3.10
3.95
5.22
4.00
Production (crop estimate)
thous. of bu.. 3 22, 962
34, 557
Linseed cake and meal:
Shipments from Minneapolis.thous. of lb.
37, 200 49,920 35,220 32, 340 29,220 30,960 34,080 26,820 24,840 24,960 41,700 27,840 34, 020
Linseed oil:
42, 302 42. 881 39,069 44, 257 43,054 46,888 51,297 48,938 45,737 41,603 46, 652 43,227
Consumption, factoryt-do.__
44,246
.155
.176
.155
Price, wholesale (N. Y.)_
dol. perlb..
.354
.155
.155
.155
.155
.155
.155
.178
.188
.168
Production|
thous. of l b . . 44,712 71, 872 63, 438 56,016 45,749 40,622 42,129
41,371
50,522 75,884 57, 290 46, 494 42, 624
Shipments from Minneapolis.
do
27,840 28,800 26,280 27,720 24,600 26,580 23,880 23, 520 20,100 20, 400 22,980 23,040 26, 760
Stocks at factory, end of month
do
136, 550 171,872 180,056 173,693 152,812 138, 748 132,346 117, 589 115, 468 121,810 128,814 128, 653 126,136
Soybeans:
Consumption, factory*
thous. of bu .
15,054 14,040 13,860
12,957
14,214 13,984
16,310 15,319 15,241
12,051
11,955
9,033 10, 929
Production (crop estimate)
do_._ 3196,725
192,076
Stocks, end of month...
do...
56, 990 50~834 46,265 42, 777 39,371
37.249 34,087 27, 799 22,753
16, 702
9,176
1,793 40, 235
Soybean oil:
Consumption, factory, refined*
thous. of l b . . 106, 744 94,726 81,680 90,770 86,023 88,478 90,566 94,936 86,459 85, 466 98,870 89,810 94, 787
Production:*
Crude
do.__ 134, 303 124, 251 118,146 343,436 135,103 134, 747 125,990 124, 587 107,904 116, 508 107,441 82, 612 98, 841
Refined
_
_
d o . . . 120,031 88,675 91,396 112,617 121,887 119,199 112,155 114,395 105,136 96,301 106,081 88,106 86, 669
Stocks, end of month:*
Crude..
do_._ 108, 591 116,912 133,937 140,352 149,410 150, 589 153,079 148,334 137, 539 146,866 131, 659 116, 522 111,756
Refined
_
do...
79, 522 95,906 110.079 114,637 111, 749 116,356 103,110 90, 535 77, 293 55, 998
52,604 73, 395 71,090
Oleomargarine:
Consumption (tax-paid withdrawals)!
_do...
41,063 43,008 47,644 43,636 45,014 41,837 41,930 34,567 37, 232 40, 781 32, 373 51, 428
Price, wholesale, standard, uncolored (Chicago)
dol. per-lb.
.165
.165
.165
.165
.165
.165
.165
.420
.165
.195
.270
()
(*)
Production!.
_
thous. of lb.
46,027 44,443 48,099 45,503 46.677 43,495 41,969 36,032 47, 262 43, 402 37,067 60, 271
Shortenings and compounds:
Production
d o . . . 157,006 121,930 101,867 118,797 119,343 108,434 113,829 123,847 103,861 100,896 134,921 100,740 127,694
Stocks, end of month
do...
45,719 43,635 39, 793 44,002 46,233 45,868 44,045 42, 503 52,830 51, 442
39, 725 33,095
41, 5'
Vegetable price, wholesale, tierces (Chi.)._dol. per lb.
.165
.165
.165
.165
.165
.165
.165
.165
.171
.171
(*)
(s)
(5)
' Revised.
» Not available for publication.
a Included in total vegetable oils but not available for publication separately.
' December 1 estimate.
* Revised estimate.
« No quotation.
* Revisions for 1941-42 for coconut or copra oil production and stocks and linseed oil production and for 1941-43 for other indicated series are available on request; revisions were
generally minor except fo* fish oils (1941 revisions for fish oils are in note on p. S-22" of the April 1943 Survey).
1 Data for January 1942-February 1945 will be shown later; publication of these data was temporarily discontinued in 1942.
§ For July 1941-June 1942 revisions see February 1943 Survey, p. S-23; revisions for July 1942-June 1944 are on p. 23 of November 1945 issue; revisions for July 1944-June 1945 are
on p. S-25 of the August 1946 issue.
cF Data continue series published in the 1942 Supplement but suspended during the war period; data for October 1941-February 1945 will be shown later.
S-26
SUEVEY OF CURRENT BUSINESS
Unless otherwise stated, statistics through 1941
and descriptive notes may be found in t h e
1942 Supplement t o t h e Surrey
Novem- Novem- December
ber
ber
1946
January 1947
1946
1945
January
February
March
April
May
June
July
August
Septem- October
ber
CHEMICALS AND ALLIED PRODUCTS—Continued
PAINT SALES
Calcimines, plastic-texture and cold-water paints:!
Calcimines
_
thous. of dol.
Plastic-texture paints
do._>
Cold-water paints:
In dry form
.
do
In paste form for interior use
-do__>
•Paint, varnish, lacquer, and fillers, total
do...
Classified, total.
do...
Industrial
....do...
Trad©
do...
Unclassified
do...
91
68
68
100
87
85
100
113
96
91
111
73
115
190
187
43,382
38,072
16,614
21,458
5,311
111
75
199
269
56, 556
50,415
19,983
30,432
6,141
271
200
50,298
45,039
18,996
26, 043
5,259
262
240
54, 573
48,891
17,643
31,248
5,682
305
274
64,697
58,279
20,940
37,339
6,418
365
271
72,339
65,021
24,256
40,765
7,318
439
281
72,463
65,134
24,475
40,659
7,329
476
244
66, 071
59, 422
23, 653
35, 769
6,649
500
269
65, 202
59, 258
24, 259
34,999
5,944
634
286
68,482
61,240
26,060
35,180
' 7,242
454
217
63, 054
55, 763
24, 014
31, 759
7,280
1,660
6,171
1,498
1,165
5,395
1,289
1,564
6,690
1,514
1,649
6,025
1,435
1,752
6,504
1,521
1,861
7,181
1,714
1,643
7,251
1,532
1,826
6,736
1,429
1,883
7,167
1,524
'1,509
7,242
1,539
1,535
7,001
1,515
8T
135
73
129
CELLULOSE PLASTIC PRODUCTS
Shipments and consumption:!
Cellulose acetate and mixed ester plastics:
Sheets, rods and tubes
thous. of lb_
Molding and extrusion materials
do...
Nitrocellulose, sheets, rods, and tubes
do...
1,073
5,984
1,233
ELECTRIC POWER AND GAS
ELECTRIC POWER
Production (utility and industrial), total*mil. of kw.-hr.
Utilities (for public use), totaled
do.._
By fuels
_do___
By water power
.do
23,954
19,954
13,680
6,274
21, 208
17,360
11,028
6,332
22,014
18,108
11,522
6,586
22,163
18,403
11,292
7,110
19,449
16,193
9,967
6,226
21, 675
17, 800
10, 521
7,278
21, 265
17,477
10,797
6,680
21, 288
17, 675
10, 577
7,099
21, 441
17, 624
10,943
6,681
22, 583
18.620
12,204
6,416
23,669
19,516
13,389
6,125
22, 788
18, 805
13,169
5,636
Privately and municipally owned utilities
do
Other producers
_
do
Industrial establishments *
do
By fuels*
_
do
By water power*
do
Sales to ultimate customers, total (Edison Electric
Institute) 1
mil. of kw.-hr..
Residential or domestic
do
Rural (distinct rural rates)
do....
Commercial and industrial:
Small light and power]
do....
Large light and power]
do
Street and highway lighting].
do....
Other public authorities]
do....
Railways and railroads]
do....
Interdepartmental]
—do
Revenue from sales to ultimate customers (Edison
Electric Institute)
_.thous.ofdol_.
17,119
2,835
4,000
3,681
319
15,092
2,269
3,847
3,467
380
15, 705
2,403
3,907
3,495
412
15,901
2,501
3,760
3,305
455
13,900
2,294
3,256
2,829
426
15,288
2, 512
3,875
3,468
407
15,076
2,402
3,787
3,329
459
15,162
2,514
3,613
3,139
474
15, 212
2,412
3,818
3,381
437
16,045
2,575
3,963
3,551
412
16,783
2,731
4,155
3,788
366
16,123
2,682
3,983
3,674
309
14,908
3,026
258
15,283
3,275
264
15, 757
3,658
242
14,920
3,505
243
15,091
3,282
249
15,233
3,094
328
15,064
2,994
379
15,185
2,954
443
15,608
2,883
470
16,474
2,900
548
16, 358
3,018
489
2,566
7,657
209
535
608
50
2,663
7,561
223
640
702
56
2,755
7,596
229
612
708
67
2,708
7,083
198
518
614
51
2,622
7,592
193
486
613
53
2,595
7,916
174
483
591
52
2,578
7,869
160
463
570
51
2,617
7,963
147
459
550
51
2,718
8,309
154
464
558
52
2,815
8,953
168
468
572
51
2, 825
8,800
184
455
537
50
276, 718 284,845
297,601
288,746
282, 543 278,337
277,145
278, 544 279,659
286,945
288,041
GASf
Manufactured and mixed gas (quarterly):
Customers, end of quarter, total
thousands..
Residential (incl. house-heating)
do
Industrial and commercial
do
Sales to consumers, total
mil. of cu. ft..
Residential
do
Industrial and commercial
do
Revenue from sales to consumers, total.thous. of dol__
Residential (incl. house-heating)
do
Industrial and commercial.
_
do
Natural gas (quarterly):
Customers, end of quarter, total
thousands..
Residential (incl. house-heating)___
do
Industrial and commercial
do
Sales to consumers, total
mil. of cu. ft__
Residential (incl. house-heating)
do
Industrial and commercial
do
Revenue from sales to consumers, total.thous. of dol__
Residential (incl. house-heating)
do
Industrial and commercial
do
11,238
10, 554
675
135. 558
91,977
41,807
121, 463
91,983
28,422
9,054
8,442
606
528, 000
146. 408
359, 359
169, 708
92,033
74, 265
11,256
10, 557
171,804
120, 212
49, 588
142,919
107, 723
34,008
11, 394
10,687
699
133, 355
88, 856
43,139
122,181
92,055
29, 245
11,319
10. 616
694
110, 834
70,113
39, 657
107, 835
80, 923
26, 214
9,153
8,521
627
638, 355
250, 766
361. 322
229,428
144, 875
80, 721
9,171
8,554
612
508,141
129,143
361,315
159, 853
85,177
72,265
9,259
8,654
600
465, 984
73, 020
383, 859
131,165
56,383
73, 393
FOODSTUFFS AND TOBACCO
ALCOHOLIC BEVERAGES
Fermented malt liquor:t
6,610 '6,858
7,508
7,236
5,452
6,832
5,642
5,836
7,373
6,723
8,436
Production
thous. of bbl..
6,523 r 6,855
6,856
6,228
6,527
5,581
6,367
6,708
5,958
7,209
7,476
7,228
Tax-paid withdrawals
do
8,175 ' 7,863
8,449
8,189
8,710
8,429
7,761
8,039
8,135
7,881
6,888
7,838
Stocks, end of month
„
do
Distilled spirits:
Apparent consumption for beverage purposes f
19,030
18,719 r18,916 19, 470 19,393 19,124 18, 535 19,068 19,392
20,250
17, 691
thous. of wine gal._
1,366
1,155
1,194
1,161
1,580
1,964
2,078
1,525
1,467
1,130
1,312
Imports •
„
thous. of proof gal._
20,
703
25,541
25,086
26,690
24, 788 20,912 19, 719 15,304 13, 486 16,011
15,538
25, 019
Production!
thous. of tax gal._
r
12, 734
12,198
9,901
11,356 10,816
11,272 10, 612 10,880
9,632 12,120 11,519
11,115
Tax-paid withdrawalsf
do
419,350 368,066 380,534 392,446 403,776 410, 226 417,419 418,657 420,262 421,390 420,947 420, 778
Stocks, end of monthf
do
r
Revised.
] For 1943-44 revisions for the indicated series, see notes at bottom of pp. S-23 and S-24 of the May 1945 Survey.
t Data for some items are not comparable with data prior to 1945; see note for calcimines, plastics and cold-water paints at bottom of p. S-23 of the December 1945 Survey.
§ Data for sheets, rods and tubes cover all known manufacturers and are comparable with the combined figures for consumption and shipments of these products shown in the
1942 Supplement. See note in September 1946 Survey regarding a change in the coverage of the data for molding and extrusion materials in June 1945.
cf See p. 22 of July 1946 issue for 1943 and 1944 revisions for total electric power production and production by source. Revisions by type of producer are available on request.
• Data continue series published in the 1942 Supplement but suspended during the war period; data for October 1941-February 1945 will be published Inter.
"The new series for production of electric energy by industrial establishments are estimated industry totals based on reports of industrial producers accr unting for about 85 percent of the total. Monthly data beginning January 1945 and earlier annual totals for these series and for total industrial and utility production will be shown later.
f Gas statistics are shown on a revised basis beginning in December 1946 Survey. The data were formerly revised each year classifying the companies in the natural or the manufactured and mixed gas industry according to the type of gas distributed by each company at the beginning of the latest complete year. In the present series, the classification is based
on the type of gas actually distributed during the period. Data are estimated industry totals based on reports of 182 companies which in 1944 accounted for around 80 percent of the
totals for the entire gas utility industry. Comparable data for all quarters of 1945 and earlier annual data will be shown later. See note marked " t " on p. S-27 regarding revisions
in the series on alcoholic beverages. Stock figures for distilled spirits include products branded "spirits" which were shown in the May-October 1946 issues of the Survey with data
for ethyl alcohol on p. S-24 (see note in November 1946 Survey). Production figures are net, excluding spirits used in redistillation. For tax-paid withdrawals of ethyl alcohol, not
included here, see p. S-24; these are largely for beverage purposes.
SUEVEY OF CUEKENT BUSINESS
January 1947
1946
1945
Unless otherwise stated, statistics through 1941
and descriptive notes may be found in the Novem- Novem- Decem1942 Supplement to the Survey
ber
ber
ber
S-27
1946
January
February
March
April
May
June
July
August September
October
FOODSTUFFS AND TOBACCO—Continued
ALCOHOLIC BEVERAGES—Continued
| f
Distilled spirits—Continued.
r f
Whisky:
897
Imports!
thous. of proof g£
10,373
Production!.. _
thous. of tax gal.. 7,838
'6,338
6, 454
Tax-paid withdrawals!
do
380, 557 331,107
Stocks, end of month!
do.
Rectified spirits and wines, production, total!
thous. of proof gal.. 15,104 ' 13,913
13,462 ' 12,072
Whisky
_.
do...
Still wines:
303
Imports!
...thous. of wine gal.
83,042
Production (including distilling materials)f
do...
9,878
Tax-paid withdrawals!.
_
do...
183,357
Stocks, end of monthf..
__
do...
Sparkling wines:
42
Imports!
do...
132
Production!
do.,.
211
Tax-paid withdrawals!..
do...
1,000
Stocks, end of month!
do...
803
15,923
4,780
341,235
960
17,128
6,053
350,063
'847
14,974
5,394
358,857
970
12,856
5,557
364, 539
932
12,553
5,239
370, 268
1,032
8,122
5,013
371,863
7,423
3,934
374,073
711
8,526
4,903
376, 213
639
7,504
4,870
377,290
833
8,517
4,915
378,902
969
9,257
5,968
380, 295
11,171
9,893
13,425
11,582
12,486
10,432
13, 579
10,874
13,860
10,905
13,378
10,462
11,949
14, 450
11, 764
15, 036
12,150
14,415
12, 484
16, 202
14,428
247
18,361
9,057
174,502
274
5,306
8,680
163,965
153
2,924
9,785
152,622
3,551
12, 809
139,139
321
6,273
11,982
126,622
476
8,154
11, 246
115,341
414
8,593
11,100
102,014
532
11,015
10,177
91, 995
439
21,195
10, 643
85,435
319
148, 603
10, 321
129,098
443
43
113
210
877
24
155
126
896
8
167
121
15
215
145
1,000
43
283
144
1,129
66
248
153
1,216
56
194
168
1,225
48
238
167
1,291
32
241
194
1,331
39
249
166
1,400
46
.473
66,640
53,127
.473
69,520
32,135
.473
66,030
19,462
.473
76,815
14,925
.473
91,140
14,052
.473
113,995
26,856
.523
119,325
49,649
.694
127, 330
69, 510
.705
115,765
84,980
.768
104. 830
73, 931
840
97, 495
59, 586
3,089
DAIRY PRODUCTS
Butter, creamery:
Price, wholesale, 92-score (N. Y.)t—
dol. per l b .
Production (factory)!
.thous. of lb_.
Stocks, cold storage, end of monthcfdo
Cheese:
Imports!
...do
Price, wholesale, American Cheddars (Wisconsin)
dol. per lb_.
Production, total (factory)!
thous. of lb_.
American whole milk!
do
Stocks, cold storage, end of m o n t h s
do
American whole milk
do
Condensed and evaporated milk:
Exports:!
Condensed..
do
Evaporated
_
do
Prices, wholesale, U. S. average:
Condensed (sweetened)....
dol. per case..
Evaporated (unsweetened).
_do
Production:
Condensed (sweetened):
Bulk goods*
_
thous. of lb_.
Case goods!
do
Evaporated (unsweetened), case goods!
.do
Stocks, manufactui?ers', case goods, end of month:
Condensed (sweetened)
_
..thous. of lb_.
Evaporated (unsweetened)..
do
Fluid milk:
Price, dealers', standard grade.
dol. per 100 lb_.
Production
mil.oflb..
Utilization in manufactured dairy products!-..do
Dried skim milk:
Exports!
_..thous. of lb_.
Price, wholesale, for human consumption, U. S.
average
dol. per lb..
Production, total!
thous. of lb_.
For human consumption!
do
Stocks, manufacturers', end of month, total
do
For human consumption
_
...do
.816
80, 855
42,026
.473
'68,762
108,501
1,967
1,533
489
1,464
1,461
1,663
1,275
1,807
2,699
2,652
.449
69, 660
50, 780
121,983
93,078
.233
'60,935
'43,731
173, 736
159,284
.233
58,085
41.697
127,011
112,896
.233
62,880
44,440
106,623
95,725
.270
62,765
43,865
91,372
81,913
.270
77,665
53,160
74, 420
.270
98,145
62,185
84,845
73,054
.270
125,095
91,140
102,142
86,089
.295
129,500
96, 930
136,759
110,807
.371
116, 625
87,830
148,786
120,136
.409
106,470
81, 010
160,272
126, 899
.435
93, 330
70,340
157,180
126, 084
6,313
63,449
5,525
83,779
13,626
91,591
7,185
103,114
9,791
112,217
10,899
82,005
9,786
101,653
5,667
38, 760
6,619
135, 652
3,066
89,447
2,955
55,233
1,979
30, 767
8.25
5.88
6.33
4.14
6.33
4.14
6.33
4.15
4.15
6.33
4.15
6.33
4.14
4.21
6.33
4.54
5.09
7.03
5.32
7.78
5.46
7.92
5.79
26,635
6,275
169,100
30,348
' 9, 308
165,627
33,735
8,857
165,062
32,240
8,800
181,400
35,875
8,140
182,500
49,705
10,025
235,200
70,795
10,190
297,400
102,915
12,600
381,000
104,170
13,170
385,800
90, 720
10,800
336,600
75, 680
10,400
291, 400
57,865
8,250
242,000
42,420
7,450
195, 600
8,701
148, 210
7,261
89,844
5,357
71,762
4,991
54,098
5,044
46,245
4,415
59,045
5,551
80,577
7,748
150,579
9,617
219,180
10, 536
229,172
10,826
211,690
12, 505
202, 775
11,377
171,026
4.91
8,194
2,629
3.27
8,264
2,493
3.27
8,382
2,403
3.27
8,615
2,573
3.28
8,292
2.493
3.29
9,796
3,002
3.30
10,540
3,664
3.32
12,301
4,638
3.47
12,644
4,803
3.90
11,956
4,685
4.22
10,834
4,226
4.40
9,404
3,724
4.49
8,906
3,334
18,225
26,684
25,285
27,164
15,856
8,358
4,014
5,101
20,992
23, 596
11, 683
6,022
.139
25,680
25, 259
'14,143
'13,731
.143
32, 755
32,282
14,042
13, 736
.144
38,690
37,800
12, 786
12,474
.144
40,380
39,450
14, 551
14,313
.145
57,380
56,350
21,014
20, 778
.144
71,390
69,750
35,402
34,832
.145
94,150
91,800
72,572
71,448
.143
92, 575
89,450
85,212
83,566
.146
73,400
71,300
80, 546
78, 930
.145
56,725
55,300
67,192
65, 712
.147
39, 840
39,100
61, 098
.146
29,410
' 29, 060
44, 652
44,852
7,922
19,940
16, 111
! 68,042
4,507
16,155
21, 217
5,175
10,963
20,851
4,376
6,308
19,751
2,671
3,522
19, 229
1,530
1,497
21,123
458
634
243
249
13,315
1,046
112
8, 755
1,319
513
7,724
6,143
10,145
6,867
' 11, 720
32, 010
10, 961
377,126
375,773
362,314
344,026
321, 765
291,148
297,629
395,754
459, 581
501, 914
•510, 257
175,704
227, 541
284,809
317, 691
351, 273
3.344
3.465
3,012
3.188
2.515
30,627
25,095
21,505
21, 405
24, 862
.147
24,150
23,800
33,377
32, 786
F R U I T S AND VEGETABLES
Apples:
Production (crop estimate)
..thous. of bu. 121, 520
6,792
Shipments, carlot
no. of carloads.
32, 562
Stocks, cold storage, end of-month
thous. of b u .
Citrus fruits, carlot shipments
no. of carloads.
15, 500
Frozen fruits, stocks, cold storage, end of month
thous. of lb.
496,
827
Frozen vegetables, stocks, cold storage, enc? of month
thous. of lb_
350,315
Potatoes, white:
2.312
Price, wholesale (N. Y.)
dol. per 100 lb.
Production (crop estimate)!
thous. of bu. 474,609
Shipments, carlot
no. of carloads.
21, 457
198, 545
191,218
172,512
156,274
147, 394
140,277
2.744
3.000
418,020
19, 994
3.060
3.000
3.844
4.115
26,124
21,873
30,954
24,282
23,840
17,171
278,109
144,573
30,203
()
' 83, 340
' 60, 785
129, 941
101,185
r
GRAINS AND GRAIN PRODUCTS
Exports, principal grains, including flour and meal!
42,572
35, 682
34,465
33, 417
21,168
38,544
thous. of bu.
41, 542
28,346
28,845
27,347
24,134
12,333
Barley:
609
857
Exports, including malt!
_._do__.
467
793
475
871
814
570
245
402
249
209
Prices, wholsesale (Minneapolis):
No. 3, straight
dol. per bu_
1.30
1.62
1,30
1.30
1.34
1.40
1.30
1.34
1.43
1.61
1.67
1.61
1.61
No. 2, malting
do.
1.32
1.72
1.31
1.32
1.35
1.43
1.36
1.45
1.31
1.66
1.70
1.66
1.70
Production (crop estimate)!
thous. of bu._ 2 63,350
3 266,833
8,026
Receipts, principal markets
do
9,832
7,537
6,879
5,089
8,868
5,062
4,116
4,668
8,284
18 250
22,046
14,840
24, 510
22,707
21,287
17,652
14,624
11,300
8,335
5,938
4,464
3,983
11^554
18,248
26,161
Stocks, commercial, domestic, end of month
do.
Revised, o"See note marked "d*" on page S-29. * Dec. 1, estimate. J Revised estimate. 3 No quotation.
:See note In June 1945 Survey for explanation of this price series. November 1945 average excludes sales at old price ceiling in effect through October.
iData continue series published in the 1942 Supplement which were suspended during the war period; data for October 1941-February 1945 will be published later.
Revised 1943 data are shown on p. 13 of the March 1945 Survey; see note on item in February 1945 issue regarding earlier data; January 1944-June 1945 revisions will be shown
later.
!Revisions for consumption of distilled spirits for beverage purposes for 1940-44 are available on p. 22 of July 1946 Survey. See note marked "f" on p. S-25 of the April 1946 Survey
for sources of 1941-42 and July 1943-January 1944 revisions for other alcoholic beverage series; revisions for fiscal year 1945 are shown on p. S-27 of the May 1946 issue. Revisions for
1920 to June 1945 for the series on utilization offluid milk in manufactured dairy products are available on request; see note marked " t " on p, S-26 of the April 1946 Survey for sources
of 1941-43 revisions for dried skim milk production and note marked " ! " on p. S-25 of that issue for sources of 1941-43 revisions for the other indicated dairy products series. Final
revisions far all dairy products for 1944 and preliminary revisions for January to June 1945 for condensed, evaporated, and dried skim milk will be published later Crop estimates
for barley and potatoes have been revised for 1929-41; for 1941 revisions, see February 1943 Survey, p. 25; 1929-40 data are available an request.
S-28
SURVEY OF CUKKENT BUSINESS
1945
1946
Unless otherwise stated, statistics through 1941
and descriptive notes may be found in the Novem- Novem- Decem1942 Supplement to the Surrey
ber
ber
ber
January 1947
1946
January
February
March
April
May
June
August September
July
October
FOODSTUFFS AND TOBACCO—Continued
GRAINS AND GRAIN PRODUCTS—Continued
Corn:
624
217
Exports, including meal<?
thous. of bu_.
12,198
11,002
9,446
Grindings, wet process
do
Prices, wholesale:
1.39
1.17
No. 3, yellow (Chicago)
dol. per bu_.
1.75
1.32
No. 3, white (Chicago)-..
...-do
1.31
.97
1.04
Weighted average, 5 markets, all grades.
do..._
32,880,933
Production (crop estimate)!.
thous. of bu__ 23,287,927
40,562
31,671
Receipts, principal markets.
_
do
28,931
Stocks, domestic, end of month:
14,758
11,127
Commercial...,
..
do
7,780
1,931,180
Onfarmsf
do
Oats:
1,055
1,719
Exports, including oatmeal<?
do
.85
.80
Price, wholesale, No. 3, white (Chicago).dol. per bu__
.77
1,535,6
Production (crop estimate)!
thous. of bu__ 21,509,867
11,426
16,158
Receipts, principal markets..
do
18,308
Stocks, domestic, end of month:
14,185
46, 695
45,043
Commercial
.
.
do
988, 435
On farmsfdo
Rice:
845,680 856, 526
Exports©"
pockets (100 lb.)__
13, 238
22,009
Importsd"
do
.066
.066
Price, wholesale, head, clean (N. O.)—dol. per lb
2
3 68,150
Production (erop estimate)!
thous. of bu_. 71, 520
California:
Receipts, domestic, rough.
bags (100 lb.)_. 901,952 1,023,332 610,109
704,105 593,683 468,991
Shipments from mills, milled rice
-do
Stocks, rough and cleaned (in terms of cleaned),
end of month
bags (100 lb.)- 452,766 428,849 358. 408
Southern States (La., Tex., ArkM Tenn.):
2,564
4,292
1,137
Receipts, rough, at mills
thous. of bbl. (162 lb.)..
Shipments from mills, milled rice
2,684
1,960
2,731
thous. of pockets (100 lb.)_Stocks, domestic, rough and cleaned (in terms of
4,708
4,807
cleaned), end of mo
thous. of pockets (100 lb.)_
5,482
Rye:
2.68
1.75
Price, wholesale, No. 2 (Minneapolis)
dol. per bu_.
1.84
3 23,
Production (crop estimate)!
thous. of bu._ 2 18, 685
896
Receipts, principal markets
_
do__._
1,301
692
4,M4
Stocks, commercial, domestic, end of month
do
4,769
2,143
Wheat:
341,037
Disappearance, domestic!
do
31,871
Exports, wheat, including
flourcf
do
23,637
24, C'57
Wheat onlycf..
do
Prices, wholesale:
No. 1, Dark Northern Spring (Minneapolis)
2.33
dol. per bu-._
1.73
1.73
2.25
0)
No. 2, Red Winter (St. Louis)__
do___.
2.10
1.69
No. 2, Hard Winter(K. C.)-do__._
2.23
1.71
L7O
Weighted av., 6 mkts., all grades
do
1,108,224
Production (crop est.), totalf
thous. of bu._ 1,155,715
281,822
i 290,390
Spring wheat
_do
873,893
> 817,831
Winter wheat.
_do
36,581
Receipts, principal markets
_
_do
29,185
42,048
Stocks, end of month:
152,630 175,257 152,823
Canada (Canadian wheat)
.
do
United States, domestic, totali t
do....
689,844
"85,512 121,712 102,130
Commercial
do
108,839
Country mills and elevators!
do
95, 276
Merchant mills
do
268,820
On farms!
do
Wheat flour:
1,928
1,663
Exports c?
do
57,690
52,403
52, £'74
Grindings of wheatj
do
Prices, wholesale:
10.95
6.55
6.55
Standard patents (Minneapolis) §
dol. per bbl..
10.38
6.44
Winter, straights (Kansas City)§_
do
Production (Census):X
11,473
Flour
thous. of bbl_. 12,749
11, 598
89.1
77.8
Operations, percent of capacity
78.6
Offal
thous. of l b . . 986, 000 914,928 925,109
Stocks held by mills, end of month
thous. of bbl. _
3, 299
269
7,791
1.17
(0
.92
31,962
417
5,759
0)
0)
.94
33,196
16, 493
3,021
.80
5,526
.81
565
11,386
152
9,322
2,024
9,722
7,036
10,636
2,508
9,469
1.53
1.40
2.17
2.32
2.03
997
9,977
1.93
111
10, 456
1.89
1.88
0)
385
11,652
0)
(0
0)
16,581
16,153
29,383
11,103
23,924
16,830
1.83
11, 297
18, 062
23,608
1,071,990
19, 511
29,171
15,904
515,341
11,864
11, 768
4,944
4
158, 398
4,076
2,010
2,835
1,89
653
337
.82
25, 315
2,384
.78
30,832
3,872
.81
946
25, 257
18,922
15,080
0)
1.26
1.11
(0
1.45
0)
1.30
0)
0)
0)
0)
21, 762
13,104
16,473
11,045
5,478
5,915
38, 775
28,921
23,890
401,325
14, 234
6,578
3,153
s
277,973
7,181
941, 488 815,915
8,807
7
.066
.066
920,815
7,817
.066
698,915
3,166
.066
339,350
18,580
.066
646,012
3,742
.066
305,369
3,098
493, 561 412,082
361, 417 357,147
394,471
224,996
363,534
239,981
372,348
216,602
406,543
283,065
385,943 219,032
239, 753 299,916
330,078 241,973
280, 446 143,992
1.82
2. 10
1.63
20, 319 19, 669
1,171,622
• 63,686 r 141, 848 89, 520
5,955
6,668
13,383
.066
.066
.066
56, 399 1,363,897
491, 946
52, 842
523, 274
123, 691
4,713
2,493
2,323
1,085
4,624
1,987
2.39
2.24
799
1,123
1,612
1,126
272,359
264,032
275,655
262,672
537
316
267
108
81
25
7
1,731
1,562
1,121
683
462
253
439
184
3,777
2,598
1,772
1,190
821
591
171
485
1.98
2.13
2.36
2.70
2.84
2.85
2.09
1.95
480
3,868
404
3,340
476
3.113
317
1,016
270
461
72
322
193
262
1,016
908
"38," 196'
27, 733
3i,~764
18,476
353,147
29, 551
21,485
23,154
12,808
16,268
6,526
235,574
33, 283
23,869
25, 754
17, 322
23,552
15,977
314,092
19, 835
10,501
1.79
1.90
1.94
1.86
1.90
2.22
2.11
1.98
2.03
2.06
2.03
1.94
1.99
2.10
2.08
1.96
2.05
2.20
2.14
2.04
2. 14
41,005
76, 432
53,853
56,113
54,929
39,487
17,849
46, 791
'4101,191
30,126 4 29,917
4 8,382
M2,838
4
42,703
90,253
50, 903 109,723 141,047
956,521
98,963 103, 595 98, 392
176,568
114,478
559,696
1,794
47,500
1,612
51,442
1,986
54, 210
998
60, 069
8.76
8.72
9.25
9. 19
9.55
9.38-
1.74
0)
1.69
1.72
26,938
1.75
0)
1.69
1.72
1.77
()
)
1.72
1.75
1.77
0)
1.72
1.76
1.81
(0
0)
21,457
31,111
16,472
40,268
141, 796 122,374
81,080
63,529
2,201
42, 745
2,073
36,220
2,003
37, 556
6.55
6.49
6.55
6.49
6.55
6.49
13,016
8,617
10,680 10,142
91.3
65.8
69.4
55.8
1,032,900 622,980 584, 280 492,800
2,385
8,943
60.2
505,660
906
72, 262
50,011
2,226
59, 591
2,827
59,361
102, 441
336,738
,
34,317
35, 570
55,899
203,991
1,716
44,975
6.55
6.46
6.55
6.46
6.55
6.49
13,064
85.3
9.53,
9.58
495
11, 259 12,173
75.8
72.8
641, 300 712,000
10,793
6,100
12, 078 13, 298
82.7
84.5
902, 900 1,022,700
2,205
LIVESTOCK
Livestock slaughter (Federally inspected):
656
783
548
Calves
thous. of animals.427
402
440
364
542
651
445
294
534
484
1,348
1,408
1,118
Cattle
...do.
1,012
1,015
1,103
676
715
451
1,239
360
1,240
904
4,350
5,434
Hogs
do.
5J57
4,911
3,114
4,698
4,149
3,858
2,316
2,843
438
3,636
3,863
1,772
1,529
1,440
Sheep and lambs
do.
2,005
1,806
2,196
1,374
1,736
1,978
1,678
1,300
1,578
1,738
Cattle and calves:
Receipts, principal markets
do.
3,024
2,073
1,961
5, 871
1,783
3,650
1,960
2,145
2,562
1,923
3,121
1,920
1,725
Shipments, feeder, to 8 corn belt States!
do.
404
97
106
141
730
97
109
323
176
187
445
91
Prices, wholesale:
23.64
16.49
Beef steers (Chicago)
dol. per 1001b..
16.91
16.59
16.14
23.57
16.56
17.30
16.77
21.36
21.71
17.99
16.26
Steers, stocker and feeder (K. C.)
...do
16.30
13.19
13.41
13.56
14.71
16.42
15.72
15.82
15.86
15.51
15.99
15.22
15.53
14.63
14.63
Calves, vealers (Chicago)
do
18.38
14.69
18.19
14.81
15.88
15.63
15.75
16.44
16.15
17.10
15.66
*1 Revised.
3
No quotation.
* Dec. 1 estimate.
Revised estimate.
4
Includes old crop only; new corn not reported in stock figures until crop year begins in October and new oats and wheat until crop year begins in July.
cf Data continue series published in the 1942 Supplement which were suspended during the war period; data for October 1941-February 1945 will be published later.
JData relate to regular flour only; in addition data for granular flour were reported for January 1943 to February 1946 and are given in notes in the May 1946 and previoui issues
of the Survey; data were not collected after February 1946.
§Prices since May 1943 have been quoted for sacks of 100 pounds and have been converted to price per barrel to have figures comparable with earlier data. For March-August
1946 qutotations are for flour of 80 percent extraction; beginning September 1946, quotations were resumed for flour of normal extraction (72 percent).
IThe total includes wheat owned by the Commodity Credit Corporation stored off farms in its own steel and wooden bins not included in the breakdown of stocks.
fRevised series. The indicated grain series have been revised as follows: Crop estimate for oats, 1932-41, and rice, 1937-41; other crop estimates, 1929-41; domestic disappearance
of wheat and stocks of wheat in country mills and elevators, 1934-41; corn, oat and wheat stocks on farms and total United States stocks of domestic wheat, 1926-41; see note marked
" t " on p. S-26 of the April 1946 Survey for sources of revisions for 1941; all revisions are available on request. The series for feeder shipments of cattle and calves was revised in the
August 1943 Survey to include data for Illinois; see p. S-26 of that issue for revised data for 1941-42.
SURVEY OF CURRENT BUSINESS
January 1947
1945
1946
Unless otherwise stated, statistics through 1941
and descriptive notes may be found in the Novem- Novem- Decem1942 Supplement to the Survey
ber
ber
ber
S-29
1946
January
February
March
April
May
June
August
September
3,070
1,832
293
2,264
July
October
FOODSTUFFS AND TOBACCO—Continued
LIVESTOCK—Continued
Receipts, principal markets
thous. of animals..
Prices:
Wholesale, average, all grades (Chicago)
dol. per 1001b..
Hog-corn ratiof.-bu. of corn per 100 lb. of live hogs..
Sheep and lambs:
Receipts, principal markets
thous. of animals..
Shipments, feeder, to 8 corn belt Statesf
do
Price, wholesale:
Lambs, average (Chicago)
doT. per 1001b..
Lambs, feeder, good and choice (Omaha)
do
3,221
2,935
3,459
3,344
2,952
2,211
2,472
2.431
24.07
18.0
14.67
12.8
14.66
13.0
14.72
12.8
14.77
12.8
14.80
12.5
14.81
12.2
14.81
10.6
14.77
10.1
17.94
8.6
20.84
11.6
16.25
9.1
22.82
13.5
2,270
316
2,100
129
2,481
154
1,753
90
1,984
67
1,610
66
2,517
76
2,286
102
2,176
338
2, 542
865
3,656
941
22.25
17.77
14.00
14.76
13.89
14.33
14.30
14.46
14.70
15.50
15.23
15.38
15.51
15.30
16.00
16.75
20.38
20.50
16.53
19.00
17.26
23.00
17.90
1,742
414
37
24
1,498
125
1,688
556
31
37
1,426
202
1,739
687
41
39
1,368
325
1,581
772
47
1,478
173
1,595
791
49
44
1,296
750
49
46
746,489
15, 221
521,900
69,602
466, 896
90, 526
543, 843
50, 214
94, 545
.409
689,827
104, 292
.200
750, 723
177,033
.200
599, 635
186,365
.200
557, 516
187,392
.200
569, 746
164,871
.202
526,166
162,098
64, 591
15, 308
74, 598
76,951
15,394
74,060
80,491
17,406
62,124
66,010
19,189
102,496
100,934
16, 533
89,629
15, 513
676,895 829,991
859,844 1,058,969
839,051
957,453
831,492
924,170
680,480
C)
C)
C)
MEATS
Total meats (including lard):
Consumption, apparent..
mil. of lb.
Exports§_.
...do...
Production (inspected slaughter)
_.do__.
Stocks, cold storage, end of month©d"_
_..do...
Edible offal©
do...
Miscellaneous meats and meat products© d o . . .
Beef and veal:
Consumption, apparent
„
thous. of lb.
Exports!
do___
Price, wholesale, beef, fresh, native steers (Chicago)
dol. per lb.
Production (inspected slaughter)
thous. of lb.
Stocks, cold storage, end of month© d 1 --.
-do...
Lamb and mutton:
Consumption, apparent
do
Production (inspected slaughter)
do...
Stocks, cold storage, end of m o n t h © ^
do...
Pork (including lard):
Consumption, apparent
...do...
Production (inspected slaughter)
__do _
Pork:
Exports§
__
_
do...
Prices, wholesale:
Hams, smoked (Chicago)
dol. per l b .
Fresh loins, 8-10 lb. average (New York)
do..
Production (inspected slaughter)
thous. of l b .
Stocks, cold storage, end of month©d*
do...
Lard:
Consumption, apparent-do...
Exports!
do...
Price, wholesale, refined (Chicago)
dol. per l b .
Production (inspected slaughter)
thous. of l b .
Stocks, cold storage, end of monthcf.
...do...
987, 245
11,190
12,721
16,559
8,222
()
191
()
()
()
136
1,226
691
44
44
()
)
1,224
619
()
189
797
496
31
220
1,581
484
38
28
()
()
30,945
<)
44, 577
39, 738
29,912
431,517
140,157
.203
409, 953
105,905
.203
275, 752
67,850
.319
674,964
68,444
65,149
10,378
68, 844
9,108
()
75,865
12,171
()
57,167
10,863
()
20,926
13
1,245
'297
'26
'21
19,691
2,535
235
.382
380
664, 848 210*423 590, 798
79,051 «• 64, 521
101,825
()
65,053
13,135
54, 268
8,844
()
555, 686
()
85, 991
42, 219
12,737
.503
.514
425, 735
168,861
.265
.333
O)
()
<)
()
718,345
757,222
456, 591
837,553
27,321
47,991
46,919
49,412
.265
.266
606,017
382,742
.265
.266
360,342
322,433
.410
.419
667,522
297, 355
64,861
.148
109,563
45, 539
57*689
.148
69,837
34,910
52, 555
123, 348
43, 349
27, 665
.350
94, 780
37,969
20, 718
()
118
1,286
389
40
27
()
84,170
' 10, 602
(*)
570,068
1,076
.554
.512
757, 765
194, 744
.258
259
679, 582
235,894
.258
.259
810,106
320, 571
.258
.259
747,282
396,740
.258
.259
708. 566
426, 545
.264
.264
533,909
396, 753
.392
167,381
38, 913
95, 465
27,350
.146
131, 250
59,349
134,462
22,862
.146
180,801
82,826
127,002
25,063
.146
152,728
83,489
102, 417
47,975
.146
157,087
90,184
42,323
.147
106, 538
80,438
.268
.266
573,027
379,373
(*)
55,435
.148
105,369
71,153
.232
99, 208
320, 745
.243
89,018
355,914
.255
47,157
363,954
.253
31, 034
356, 730
.268
31, 348
320,027
.272
37, 278
256,822
.274
34, 765
209,944
32,865
173,905
38,138
178,784
.265
43,162
207,137
.307
61,131
184, 841
.298
89,972
261,006
159
437
2,936
183
.429
3,400
264
356
4,214
7,449
.331
4,954
18, 335
.332
6,696
20,924
.333
6,721
17, 556
.336
6,216
15,761
.332
5,012
12, 756
.340
4,221
9,757
.346
3,636
4,347
.406
3,264
2,970
.420
3,172
314
155, 934
113
129,424
272
111, 721
1,578
117,903
3,771
149, 710
' 6, 425
200,176
245, 287
9,871
265,050
9,537
260,101
40,459
14,133
36,818
14, 249
42, 709
38,865
30,162
39,254
37,361
38,469
34, 622
29, 397
30, 467
14,048
24, 678
19,433
POULTRY AND EGGS
Poultry:
.242
Price, wholesale, live fowls (Chicago)
dol. per l b .
Receipts, 5 markets
.thous. of l b . 72,952
Stocks, cold storage, end of monthcf__do.__ 308, 582
Eggs:
2,271
Dried, production*
...do...
Price, wholesale, fresh firsts (Chicago)J._dol. per doz_
.406
Production
millions.
3,080
Stocks, cold storage, end of monthrc?
1,675
Shell
thous. of cases.
Frozen...
thous. of l b . 132, 569
()
()
()
C)
.265
71,181
.476
99, 859 462, 454
142,912
()
8,268
11, 679
.190
.190
10,665 77,888
30, 021 ' 31, 513
5,738
7,960
236, 256 207, 244
r 3, 585
168,591
39,505
9,405
54,122
13, 765
MISCELLANEOUS FOOD PRODUCTS
Candy, sales by manufacturers
Cocoa, imports!
Coffee:
thous. of dol..
long tons..
56, 287
34, 056
14, 409
1,618
814
1,448
1,286
Clearances from Brazil, total . .
thous. of bags
1,829
1,030
1,416
1,145
1,577
1,312
1,573
1,635
1,233
567
484
902
973
To United States
.do....
718
946
1,189
1,510
970
748
1,163
837
r
Imports!
do
1,353
1,237
998
2,093
1,338
1,824
1,786
1,947
1,480
2,849
1, 498
2,298
.134
.241
.134
Price, wholesale, Santos, No. 4 (N. Y.)---dol. per lb._
221
.134
134
.263
.206
.221
.134
.134
.134
.134
2,251
1,931
1,964
2,142
2,558
2,276
Visible supply, United States
....thous. of bags
2,080
2,182
2,122
2,143
2,044
2,105
2,319
Fish:
21,640
10,821
Landings, fresh fish, 4 ports
thous. of lb__
33, 247
12, 455
24,151
25,245
47,005
68,023
66, 854 46, 776 53, 727
"l6O~Il6 148, 286 140, 208 115,398
Stocks, cold storage, end of month
do
99,051
75,318
97,806 126, 837 152, 403 147,085 149,549
84, 265
84, 725
Sugar:
Cuban stocks, raw, end of months
205
299
••347
thous. of Span. tons..
553
2,036
712
1,111
2,702
2,902
2,059
2,551
1,700
1,310
United States, deliveries and supply (raw value):*
Deliveries, total
short tons.. 490, 200 419, 676 354,447 516, 244 285, 341 476, 316 556, 466 524,662
590,347 608,883 524,734 396, 831
For domestic consumption...
do
483,928 410, 459 347,402 514, 724 276,715 425, 742 500,608 451,994 526,605 557,235 561, 695 513,527 392,018
For export
do
9,217
7,045
6,272
1,520
8,626
11, 207 ' 4, 813
55,858
50,574
72,668
33,112 47,188
71, 999
Production, domestic, and receipts:
Entries from off-shore areas
do
223, 781 210, 392 196, 476 182,937
263,345 465,834 433,190 501, 777 478,311 460,172 402, 299 297, 275 233,063
644,161 414, 465
98, 526
Production, domestic cane and beet..
do
24, 771
19, 305
18, 254
8,345
13,173 49, 780 94. 691 483, 532
9,613
1,165,117 1,418,532 ,794,764 1,174,614 1,184,341 1,080,908 1,065,183 955,031 824, 641 671, 491 519, 727 832,071
Stocks, raw and refined, end of month
do I
r
Revised. 1 For data for December 1941-July 1942, see note in November 1943 Survey.
X Compiled by the U. S. Department of Labor; see note in April 1944 Survey.
• No quotation.
* Temporarily discontinued; data under revision.
cf Cold storage stocks of dairy products, meats, poultry and eggs include stocks owned by U. S. Department of Agriculture and other Government agencies, stocks held for the
Armed Forces stored in warehouse space not owned or operated by them, and commercial stocks; stocks held in space owned or leased by the Armed Forces are not included.
! Data continue series published in the 1942 Supplement but suspended during the war period; data for October 1941-February 1945 will be published later.
© Data for edible offal are comparable with figures beginning June 1944 shown as "miscellaneous meats" through the April 1946 Survey (see note in that issue). "Miscellaneous
meats and meat products" shown above include sausage and sausage room products and canned meats and meat products which were not reported prior to June 1944. Stocks shown
under beef and veal are combined figures for beef and veal; the latter also has been reported only beginning June 1944. Data for June 1944 to February 1946 for veal and for the items
now shown as miscellaneous meats and meat products are given in notes in the August 1944 to April 1946 issues of the Survey. Stocks for the several meats include trimmings which
were included as "miscellaneous meats" prior to June 1944.
* New series. Data for 1927-43 for dried eggs are shown on p. 20 of the March 1945 Survey. The new sugar series include raw and refined in terms of raw (see also note in the
April 1945 Survey).
t Revised series. The hog-corn ratio has been shown on a revised basis beginning in the March 1943 Survey; revisions beginning 1913 will be shown later. The series for feeder
shipments of sheep and lambs has been revised beginning 1941 to include data for Illinois: revisions are shown on p. S-27 of the August 1943 Survey.
SURVEY OF CURRENT BUSINESS
S-30
1946
1945
Unless otherwise stated, statistics through 1941
and descriptive notes may be found in the Novem- Novem- Decem1942 Supplement to the Survey
ber
ber
ber
January 1947
1946
January
February
March
April
May
June
July
August ^ 7 "
October
FOODSTUFFS AND TOBACCO—Continued
MISCELLANEOUS FOOD PRODUCTS—Con.
Sugar, United States—Continued.
Exports, refined sugar §
.
..
short tons..
Imports: §
Raw sugar, total
_. ._ do
From Cuba
do
Refined sugar, total
_ do _
From Cuba
do
Receipts from Hawaii and Puerto Rico:
Raw
do
Refined
_ do .
Price, refined, granulated, New York:
Retail
dol. per lb
Wholesale
do
Tea, imports §
thous. of lb
1.092
.076
TOBACCO
Leaf:
Exports, incl. scrap and stems §._
__thous. of lb_.
Imports, incl. scrap and stems § _ .
.do _
2 2,236
Production (crop estimate)
mil. of lb
Stocks, dealers and manufacturers, total,
end of quarter
mil. of l b . .
Domestic:
Cigar leaf
do
Fire-cured and dark air-cured
do
Flue-cured and liffht air-cursd
do
3,484
18,972
4,304
7,003
33,945
58,321
59,716
61,897
33,844
22, 546
3,280
76,871
76,871
10,979
10,856
68,374
68,374
4,387
4,243
172,125
172,125
10, 324
10, 324
191, 214
191, 214
310, 519
310,519
33,816
33, 656
143,528
143,528
38,785
38,735
240,190
230,471
38,061
38,061
189,418
179,666
15,001
15,001
267, 460 157,171
267, 460 145,072
47,349
49,932
47,349
49,932
126,958
116, 529
30, 294
30, 294
97,960
92, 812
35, 099
35,098
115, 226
91,076
20,687
38, 774
0
0
0
112,933
10,417
197,733
23,657
179,667
17,685
160,827
30,150
179,922
4,750
209, 662
1,709
128, 747
4,774
76, 424
0
.064
.054
9,881
.064
.054
?,, 686
1.067
.054
14,975
1.O68
.056
12, 569
1.073
.059
6,139
1.074
.059
6,580
1.073
.059
3,077
1.074
.059
1,540
1.074
.060
1,336
1.075
.060
6,350
1.076
.067
9,968
.074
3,846
26,504
4,892
27, 226
3,119
3 1,994
47,335
22, 371
43,902
4,043
52,230
5,129
60,401
4,727
62,293
5,633
60,740
4,861
36,970
5,381
39, 595
5,613
50, 461
6,031
54. 383
1.6, 883
195
0
3,275
3,342
2,853
324
377
366
175
2,626
3
2
1
2 997
327
165
196
223
2,668
47,191
2,168
2 389
3
3
Foreign grown:
31
26
26
28
Ciffar leaf
do
75
85
95
Cisrarprte tobacco
do
87
Manufactured products:
Consumption (tax-paid withdrawals): 5
25,406
29, 972 26, 360 25,440
16,061
25,226
23,637
26, 401 25,452
28, 953 26, 865 32, 778
Small cigarettes
millions
27, 696
Large cigars
._. _. ._.
thousands
546,949 468,404 364,671 468, 592 455,024 480, 479 484,318 497,297 452,180 439,396 500, 572 457, 703 588,067
15, 453 20,806
21,223
21, 084
17, 776
18, 519 20,023
20, 949 22, 733 ^ 21,671
25, 631
Manufactured tobacco and snuff
thous. of lb_. 22, 728 27,090
1,106,903 1,002,748 2,660,699 1,048,525 1,448,618 1,996,922 4,443,744 2,427,461 1,831,885 1,966,654 1,124,900 1,138 583
ExDorts, cigarettes §
thousands
Price, wholesale (list price, composite):
6.006
6.006
6.056
6.255
6.006
6.006
6.006
6.255
6.255
6.255
6. 255
6.509
6.424
Cigarettes, f. 0. b., destination
dol. per 1,000.
19,750
26,608
16,655
21, 472 21,092
20, 521 18,065
19,067
21,078
21,672
Production, manufactured tobacco, total thous. of lb
22,868
392
279
290
331
334
262
302
326
282
374
311
Fine-cut chewing
.
do
4,703
3,066
4,106
4,317
4,373
4,172
4,481
4,280
4,657
4,631
4,361
Plug
do . .
Scrap, chewing
..
.
do
2,957
3,069
3,976
3.948
4,099
3,647
2,738
3,635
3,968
4,437
3,860
14, 616
6,954
7,979
5,944
6,386
7,808
10, 051
9,395
8,909
Smoking, _
_
do
9,486
9,618
Snuff
do
3,427
2,953
3,706
3,128
3,419
3,333
3,339
3,022
2,721
3,429
3,061
513
529
335
458
423
466
508
498
497
511
Twist _._. _ .
.
.
461
LEATHER AND PRODUCTS
HIDES AND SKINS
Livestock slaughter (see p. S-28).
Imports, total hides and skins §
thous. of lb
Calf and kip skins
thous of pieces
Cattle hides
_„.__ .
.
do
Goatskins
do
Sheep and lamb skins .
do
Prices, wholesale (Chicago):
Hides, packers', heavy, native steers
dol. per lbCalfskins, packers', 8 to 15 lb
do
.289
.435
15, 736
49
11,301
164
16,084
39
10, 870
15, 331
3
17,340
0
15, 785
1
13,187
11
19,006
35
29
52
20
68
50
80
15,384
20
49
41
83
85
2,201
2,774
1,656
1,912
3,137
2,883
2,297
1,968
2,332
2,818
1,571
4,684
1,168
3,609
1,271
3,090
2,496
4,868
.155
.218
.155
.218
.155
.218
.155
218
.155
.218
.155
.218
.155
.218
.155
.218
.239
.268
16, 723
48
19, 238:
124
2,640
3,178
1,866
3,701
2,173
2.419
.155
.218
.155
.218
.155
.218
150
140
LEATHER
Exports :§
Sole leather:
2,335
1,818
3,113
3,062
721
154
79
655
307
364
640
51
Bends, backs and sides...
. thous. of lb .
593
296
275
186
573
163
488
25
17
20
1,322
1,194
Offal, including belting offal
do
834
2,010
1,107
3,324
4,072
4,430
3,280
2,282
3,206
2,853
Upper teather__
.
do
2,864
6,705
Production:
831
1,031
1,032
937
907
801
755
898
946
832
g44
953
Calf and kip
thous. of skins..
2,089
2,544
2,331
2,502
2,479
2,500
2,237
2,058
2,320
2,160 r 1,895
2,022
Cattle hide_ _. _
thous of hides
1,761
1,739
2,027
1,773
1,537
1,656
2,143
2,190
1,780
1, 659
1,997
Goat and kid
thous of skins
2,578
r
3,986
3,944
3,584
3,529
4,288
4,256
3,949
4,418
3,951
4,639
3, 702
Sheep and lamb
do
4,558Prices, wholesale:
.440
.440
.462
.440
.440
.675
.440
(V)
.440
.470
.440
.470
Sole, oak, bends (Boston) f dol. per lb
.558
.565
.533
.533
.533
.536
.570
.533
.529
.529
.529
Chrome, calf, B grade, black, composite-dol. per sq. ft. Stocks of cattle hides and leather, end of month\\
10, 059
9,539
10, 063
9,886
8,503
9,217
8,419
9,721
9,605
7,633 r 7, 565
Total
thous. of equiv. hides.7,410
6,052
6,192
5,541
6,081
6,054
6,098
5,911
6,000
5,971
5,681 r 5,703
Leather, in process and
finished
do
5,968
1,962
1,442
4,007
3,737
3,441
3,204
2,532
2,878
3,728
Hides, raw
.do...
3,694
3,871
1, 851
,
LEATHER MANUFACTURES
2,218
2,274
2,024
2,228
1,893
2,418
2,255
2,103
2,432
2,331
2,266
2, 536
Gloves and mittens, production, total*.thous. doz. pairs.
765
688
798
652
656
632
737
794
734
806
Dress and semi-dress, total
do
774
878
185
166
141
154
185
175
151
144
153
169
171
' 167
Leather
.
_
do .
20
24
18
28
25
20
23
23
20
18
18
26
Leather and fabric combination
do
513
590
493
571
692
586
566
581
488
606
468
537
Fabric
.do
1,620
1,509
1,372
1,449
1,366
' 1,657
1,530
1,638
1,557
1,261
1,572
Work, total
do...
1,531
167
156
116
125
119
169
176
182
177
155
175
'143
Leather
. . .
do
212
192
159
225
175
214
220
186
197
186
231
212
Leather and fabric combination
do
921
1,138
1,241
1,161
1,097
1,072
1,317
1,141
1,237
1,160
1,164
Fabric
...do
1,144
r
Revised. 1 Data beginning January 1946 reflect a change in the sample and in the method
of summarizing reports;, January 1946 figure comparable with earlier data is $0,064.
b
2 December 1 estimate.
» Revised estimate.
« Less than 500 pieces.
No quotation.
^Tax-paid withdrawals include requirements for consumption in the United States for both civilians and military services; withdrawals for export and for consumption outside
the United States are tax-free.
§Data continue series published in the 1942 Supplement but suspended during the war period (it should be noted that data for sugar are shown in long tons in that volume);
data for October 1941-February 1945 will be published later.
X Data reported currently cover stocks in tanners' hands only; all data shown above have therefore been revised to cover only tanners' stocks; the figures for total stocks for January, March, and Mav include small revisions that are not available for the break-down between leather and raw hides.
fRevfced series. The price for sole oak leather is shown on a revised basis beginning in the October 1942 Survey; revisions beginning July 1933 are available on request.
•New series. Data on gloves and mittens are from the Bureau o' the Census and cover all known manufacturers; data for January 1943-March 1945 for leather and combination
leather
and fabric, and for May 1944-March 1945 for fabric gloves and mittens will be published later. The series for leather gloves are not comparable with similar data shown in
the 1942 Supplement which cover only around 85 percent of the total.
January 1947
SURVEY OF CUERENT BUSINESS
Unless otherwise stated, statistics through 1941
and descriptive notes may be found in the
1942 Supplement to the Survey
Novem- Novem- December
ber
ber
1946
S-31
1945
1946
January
February
March
April
May
June
July
August September
October
LEATHER AND PRODUCTS—Continued
LEATHER MANUFACTURES—Continued
Boots and shoes:
Exports §
thous. of pairs..
Production, total i__.
___
do
Government shoes
do
Civilian shoes, total..
do
Athletic
do
Dress and work shoes, incl. sandals and playshoes:
Leather uppers, total
thous. of pairs..
Boys' and youths'
___do
Infants'
do
Misses' and children's.
__.do
Men's
_
_
.do
Women's
do
Part leather and nonleather uppers
do
Slippers and moccasins for housewear
do
All other footwear..
_
do.
995
40,049
805
39,243
452
4,192
34,649
632
34,017
410
1,326
Ml,246
471
40,479
537
744
43,701
464
43,237
635
1,095
47,955
427
47,528
676
49,437
273
49,164
666
1,663
49,469
227
49,242
690
1,701
44,957
315
44,642
627
776
37,021
139
36,882
536
342
1,159
46, 236 • 41, 651
172
140
46,064 ' 41,511
486
'330
289
47,235
171
47,064
393
28,593
1,593
2,735
3,760
7,547
12,958
2,608
7,433
157
26,371
1,421
2,346
3,352
6,945
12,308
2,632
4,497
106
31,012
1,492
2,855
3,913
7,815
14,937
4,007
4,782
140
33,091
1,777
3,068
4,421
8,608
15,317
4,622
4,757
133
35,483
1,807
3,248
4,904
8,954
16, 571
5,671
5,487
211
36,669
1,872
3,363
5,066
9,383
16,985
5,87fi
5,731
222
36,689
1,879
3,238
5,060
9,592
16,920
5,646
5,879
338
32,815
1,752
2,960
4,379
8,703
15,021
5,304
6,708
188
26, 504
1,502
2,456
3,346
7,662
11, 538
4,693
4,980
169
32,117 •30,022
1,720 r 1,607
2,838 ' 2,575
4,119 r 3,727
8,692 r 7,901
14, 748 r 14,212
6,679 r 5,279
6,563 '5,681
••199
219
34,043
1,784
2,941
4,164
8,824
16,330
5,157
7,178
293
LUMBER AND MANUFACTURES
LUMBER—ALL TYPES
Exports, total saw mill products §
M bd. ft
Sawed timber § — do
Boards, planks, scantlings, etc..
do
Imports, total sawmill products §
do
National Lumber Manufacturers Association^
Production, total _
mil.bd.ft
Hardwoods
_ _ _ _ _ do
Softwoods .
do
Shipments total
do
Hardwoods. . _ _ _
do
Softwoods
do
Stocks, gross, end of month, total
do
Hardwoods
_
_
do. _
Softwoods
do
39,429
2,874
33,803
98,964
49,257
3,312
44,012
95,432
64,795
6,405
56,089
80,528
52,574
11,708
39,194
79, 434
71,094
21,006
48,091
95,364
63,060
21,278
39,878
97,136
63,584
21,099
30,867
90,263
56,852
9,669
45,570
76,930
43,784
13,876
27,825
109, 744
54,366
12,852
34,783
123, 411
44, 237
14,777
26,889
111, 685
23, 802
4,329
17,485
131, 665
2,517
738
1,779
2,353
619
1,735
4,534
1,407
3,127
1,891
615
1,276
1,819
581
1,238
3,845
1,040
2,805
1,638
443
1,195
1,688
472
1,216
3,816
1,022
2,794
1,840
516
1,324
2,081
604
1,477
3,555
906
2,649
1,887
498
1,389
1,911
479
1,432
3,482
877
2,605
2,279
640
1,639
2,307
582
1,725
3,397
886
2,511
2,538
681
1,857
2,517
674
1,843
3,421
873
2,548
2,668
699
1,969
2,621
691
1,930
3,481
875
2,606
2,689
659
2,030
2,542
622
1,919
3,614
904
2,711
2,656
731
1,925
2,505
632
1,873
3,735
974
2,761
2 2,880
793
2 2,087
a 2, 616
660
2 1,956
2 3,862
1,071
2 2, 791
2,709
1,889
2,471
642
1,829
4,148
1,211
2,936
2,921
854
2,067
2,645
731
1,914
4,405
1,318
3,088
3,250
5,250
3,475
3,625
1,975
2,275
7,300
2,525
1,950
3,125
1,150
7,050
2,425
1,200
4,350
2,875
6,700
3,050
3,075
4,250
2,625
6,725
2,850
2,675
4,300
3,025
6,876
3,100
2.725
4,650
4,325
6,550
3,100
4,350
3,200
3,700
6,175
2,950
3,875
2,475
2,750
6,250
2,550
2,700
2,425
2,300
5,750
2,375
2,375
2,375
3,560
6,150
3,100
3,125
2,475
2,550
5,425
2,925
3,375
2,425
3,750
5,700
3,400
3,425
2, 200
29, 245
41,800
34,079
33,065
3,752
18, 343
39,097
18,970
17,364
5,113
12,201
37,962
16,004
13,336
7,781
15,632
42,120
18,523
11,474
14,830
17,329
37,694
17,453
22,892
9,391
15,971
35,529
18,958
18,136
9,661
16,817
34,280
18, 757
20,996
7,425
19,434
33,371
20,119
20,982
7,270
15,426
31,158
17,239
17,639
6,162
20,247
31, 657
20,838
19, 747
6,081
18,931
30,055
22,860
24,734
4,209
22, 851
27, 527
27,331
(3)
29, 212
42,190
35,922
34,882
4,738
11,313
554
10,759
26,038
1,127
24,911
41,528
3,820
37,708
31, 375
8,242
23,133
42,207
13,225
28,982
39, 682
16, 733
22,949
29,889
15, 231
14,658
30,020
6,032
23,988
22, 271
9,256
13,015
18,710
5,702
13,008
20,478
9,806
10, 672
6,233
2,632
3,601
43.855
59.780
34.790
44.100
34.790
44.100
34.790
44.100
34.790
44.100
37.362
51.450
88.220
58.900
38.220
53.900
41.528
58,310
42. 630
59. 780
42.630
59. 780
42. 630
59.780
42. 630
59. 780
573"
633
7,202
1,853
5,349
550
650
5,798
1,904
3,894
472
646
9,076
2,268
6,808
626
696
9,093
3,228
5,865
555
698
13,816
5.743
8.073
664
738
11,973
3,506
8,467
655
731
11,178
4,634
6,644
672
746
10,861
2,035
8,826
665
701
9,565
2,703
6,862
623
679
16,384
5,260
11,124
602
633
11,716
4,080
7,636
616
651
5,317
1,034
4,283
626
642
53.182
42. 018
42.782
42.837
43.465
46.029
46.029
46.029
46.029
46.083
46.083
46.083
46.083
74.723
615
582
1,168
56. 494
600
553
1,133
59.811
472
476
1,129
60.056
512
576
1,065
61.131
554
553
1,066
65.091
629
624
1,071
65.091
673
662
1,082
65.091
635
657
1,060
65.091
631
610
1,081
65.091
646
645
1,082
65.091
651
648
1,085
65.091
590
598
1,077
65.091
693
635
1,135
476
275
307
302
240
294
293
298
299
299
480
417
445
293
515
280
543
298
568
276
617
258
589
283
565
288
40.36
480
489
1,083
36.46
279
310
949
36.07
206
248
908
35.99
206
290
824
36.16
234
297
761
35.77
296
373
684
39.15
457
461
710
40.65
584
529
765
40.07
651
581
835
40.93
656
590
901
40.19
720
634
987
40.35
618
564
1,041
40.38
611
560
1,092
449
544
461
446
475
261
723
233
217
385
377
738
368
357
400
455
703
450
460
392
423
683
449
441
398
527
636
632
656
375
543
632
532
532
362
618
601
527
526
368
476
559
517
511
379
426
545
403
415
379
552
554
541
503
403
445
538
469
448
420
562
576
552
512
462
FLOORING
Maple, beech, and birch:
Orders, new
Orders, unfilled, end of month
Production
. __
_
Shipments
Stocks, end of month
Oak:
Orders, new
Orders, unfilled, end of month
Production
Shipments
Stocks, end of month
_.
.
M bd. ft__
„_
do
do
« _ do
do. _
do. _
_ _ _ _ _ _ do
do _
„ . « . _ do
do
SOFTWOODS
Douglas fir:
Exports, total sawmill products §
___M bd. ft_.
Sawed timber §
do
Boards, planks, scantlings, etc.§_
_~
do
Prices, wholesale:
Dimension, No. 1, common, 2 x 4—16
dol.perMbd.ft..
Flooring, B and better, F. G., 1 x 4, R. L
do
Southern pine:
Exports, total sawmill products §__
_M bd. ft
Sawed timber §
do
Boards, planks, scantlings, etc §_
do
Orders, new f
mil. bd. ft__
Orders, unfilled, end of month f
do
Prices, wholesale, composite:
Boards, No. 2 common, 1" x 6" or 8" x 12't
dol. per M bd. ft_.
Flooring, B and better, F. G., 1" x 4" x 12—14' f
dol. per M bd. ft__
Productionf
mil.bd.ft
Shipments! . . .
do
Stocks, end of monthf
do
Western pine:
Orders, newt--do
Orders, unfilled, end of monthf
do
Price, wholesale, Ponderosa, boards, No. 3 common,
1" x 8".
...
dol. per M bd ft
Production!mil.bd.ft
;
Shipments!
do
Stocks, end of monthf. _
do
West coast woods:
Orders, newt do _
Orders, unfilled, end of month
do.....
Productiont
_
do
Shipmentst
do .
Stocks, end of month
...do
f
2
1
Excludes data for Redwood region; estimates for this region are included infiguresfor later months.
Revised.
Includes revisions not available for the detail.
3 Not available.
§Data continue series published in the 1942 Supplement but suspended during the war period; data for October 1941-February 1945 will be published later.
JSee note for boots and shoes at the bottom of p. S-23 of the July 1945 Survey regarding changes in several classifications and note marked " t " on p . 28 of that issue regarding
other revisions; data beginning January 1945, except the detail for January 1946, have been revised to include late reports; 1945 revisions not shown above and also revisions for January-May 1943 and 1945 and January-April 1944, which have not been published and will be shown later.
t Revised series. The following lumber series have been recently revised to adjust the monthlyfiguresto 1944 totals for production compiled by the Bureau of the Census.
Data beginning January 1944 for production, shipments, and stocks for total lumber, total hardwoods, and total softwoods and production, shipments, and new orders for
Southern pine and western pine and 1944 data for production, shipments, and stocks of West Coast woods (1945 data for West Coast woods are subject to further revisions).
Earlier lumber data were previously adjusted to 1941-43 Census data and revisions have been published only in part (see note in April 1946 Survey). All unpublished revisions through
February 1945 will be shown later. The Southern pine price series are shown on a revised basis beginning in the February 1946 Survey; each represents a composite of 9 individual
series; the specifications given above apply to data collected beginning February 1945; earlier data were computed by linking slightly different series to the current data.
SUEVEY OF CURRENT BUSINESS
S-32
1946
1945
Unless otherwise stated, statistics through 1941
and deacriptire notes may be found in the Novem- Novem- Decem1942 Supplement to the Survey
ber
ber
ber
January 1947
1946
January
February
March
April
May
June
July
August
September
October
LUMBER AND MANUFACTURES—Continued
SOFTWOODS—Continued
Redwood, California: %
Orders, new...
Orders, unfilled, end of month
Production
Shipments
Stocks, end of month.
_
M bd. ft..
-do
do
do
do
31,709
85, 572
33,442
28,019
60,335
20, 572
81,947
26, 724
21, 495
76,006
20,248
91,979
9,858
11,207
75,231
8,179
98, 314
795
1,854
74,165
4,370
100,288
1,286
2,267
73,298
3,930
98,911
2,890
2,698
73, 543
4,160
97,769
3,912
4,275
73,520
3,701
99,706
4,033
3,765
73, 735
58, 237
57,862
28,586
75,100
75,904
26,739
106,883
104,144
29,105
97,828
98, 619
28,096
109,005
105,999
30,988
120,152
120,176
29,753
128,489
129,926
28,016
121,412
125,068
24,391
56
56
59
62
64
63
115
70
37
52
128
71
38
SOFTWOOD PLYWOOD
Softwood plywood:*
Production
thous. of sq. ft., $i" equivalent., 129,635
128, 691
Shipments
.
_..do
34,984
Stocks, end of month
.
do
99,747
92, 288
34,189
126,974
124, 891
33,842
129, 270
128, 086
35, 560
47
141
71
2
35
137
70
40
488,300 394, 382 395,923 513, 595
11, 620 10, 893
18,568
18,160
111, 694 64,737 131,022 119,664
103
763
3,409
4,389
362, 776
9,244
123, 513
1,896
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..
73
6
27
130
75
38
1
36
108
1
53
146
70
41
62
59
2
40
147
69
37
1
58
137
62
33
METALS AND MANUFACTURES
IRON AND STEEL
Foreign trade : |
Iron and steel products:
Exports (domestic), total
Scrap
Imports, total
Scrap
.short tons.
do...
do...
do...
487,240
6,397
104,116
4,770
451,046
8,568
92,638
1,607
Consumption, total*
thous. of short tons.
Home scrap*
do...
Purchased scrap*
do...
Stocks, consumers', end of month, total*
do___
Home scrap*
_
do._Purchased scrap*
_do..-
4,378
2,346
2,032
3,943
1,239
2,704
4,129
2,233
1,896
3,742
1,215
2,527
5,612
4,145
44,706
39, 891
4,815
116
46
6,099
71
39,059
34,660
4,399
109
51
557,360
4,768
78,584
1,208
327,590 349, 317 476,221
16,752
9,322 10,662
89, 230 212,138 157,753
3,032
3, 459
9,584
Iron and Steel Scrap
Ore
Iron ore:
Lake Superior district:
Consumption by furnaces
thous. of long tons..
Shipments from upper lake ports—
do---.
Stocks, end of month, total
do
At furnaces. _-_
do--..
On Lake Erie docks.
-do
Imports §
_
do
Manganese ore, imports (manganese content) §...do
6,131
6,701
41,918
37, 063
4,857
3,719
0
35,342
31, 215
4,127
78
33
i 4, 538
i 2,326
i 2,212
4,491
1,376
3,115
4,415
2,415
2,000
4,514
1,346
3,168
4,504
2,331
2,173
4,405
1,296
3,109
3,662
1,746
1,916
4,380
1,281
3,099
4,214
2,074
2,140
4,110
1,269
2,841
4,476
2,382
2,094
3,660
1,267
2,393
4, 670
2,594
2,076
3,324
1,142
2,182
4,449
2,467
1,982
3,258
1,192
2,066
1,748
0
33,647
29,606
4,041
75
27
6,021
0
27,601
24,100
3,501
81
60
4,769
730
23,079
20,060
3,019
112
56
2,990
3,616
23,905
21, 075
2,830
237
45
4,995
8,654
26, 265
23, 247
3,018
173
33
6,460
10, 848
30,439
27,131
3,307
340
72
6,738
9,774
34,067
30, 450
3, 617
371
62
6, 380
9,636
34, 573
33, 464
4,109
402
70
Pig Iron and Iron Manufactures
Castings, gray iron:*
Shipments, total
short tons_. 964, 300 751,092 678,091 706,319 541,177 796,068 856,678 757,041 735,060 810, 829 944,516 913, 824
552, 696 445,952 397, 529 446, 567 368, 384 505, 431 529,323 454,194 435, 866 475, 059 558, 957 534, 310
For sale
do
2,888,219 ,847,468 1,877,095 2,076,994 2,152,766 2,265,336 2,378,348 2,491,811 2,633,118 !,668,782 2,785,609 2,881,906
Unfilled orders for sale
..-_
-do
Castings, malleable :d"
34,157
41, 804 44, 503
38,985
39,388
47,411
34, 299 33,698 44,507
31,104
49, 561 48,126
Orders, new, for sale-do
257,943 227, 309 236,648 245,878 247, 644 263, 227 267,822 271,925 275,845 271,981 272, 440 277, 309
Orders, unfilled for sale
do
64, 446 67, 903 69,516
51,963
61,650
54,191
57,315
40,156
68,987
Shipments, total
.do
50, 235 65,010
38,021
35,468
41, 345 39,634
38,181
34,975
29, 338 33,978
36,298
For sale
do
39, 328 36,007 35,168
Pig iron:
4,090
4,560
4,696
4,080
4,571
* 3, 664 4,374
3,739
2,395
3,623
Consumption*
thous. of short tons..
Prices, wholesale:
25.25
25.25
25.25
28.00
25. 25
28.00
28.00
28.00
26.00
28.00
26.00
Basic (valley furnace)-_dol. per long ton..
25.63
25.92
25.92
28.73
25.92
28.67
25.92
28.73
28.73
26.82
26.67
28.73
26.32
Composite
do
25.75
25.75
28. 50
28.50
25.75
28.50
26.50
25.75
28.50
26.50
26.20
28.50
Foundry, No. 2, f. o. b. Neville Island*
do
2,645
4,705
4,026
3,682
4,898
2,275
4,323
3,614
1,148
4,687
4,424
4, 435
Production*
thous. of short tons._
Stocks (consumers' and suppliers'), end of month*
821
1,192
1,124
810
771
862
830
1,046
thous. of short tons1,257
1,239
Boilers, radiators, and convectors, cast-iron:l
Boilers (round and square):
25, 380 25, 713
9,134
17, 515
Production
thous. of 1b_ _
12, 341 15,612 22, 279 20, 986 21,188
14, 939
7. 383 11, 324 13, 492 20, 264 21, 348 20, 222 26, 881 27, 021
Shipments
do_
42, 577 41, 076 39, 769
40, 316 41, 973 41,611
32, 850 32; 426 37, 178 38,195
Stocks, end of month
doRadiation:
2,174
1,497
3, 878
3, 494
1,948
3,179
3,386
3,196
2,571
1,904
2,313
Production
thous. of sq. ft-_
1, 937
4. 469
3, 764
2,196
3, 355
3,559
1, 431
2,239
Shipments
do _
1,895
3, 421
3,151
4,344
4,375
4,012
2,094
2, 610
3,361
3,028
Stocks
dor
Revised.
* Total for January and February.
• Data not available.
|A11 but 2 of the reporting mills were closed by strikes from the middle of January until July; complete reports were not received for July and later months.
§Data continue series shown in the 1942 Supplement but suspended during the war period (it should be noted that data for iron and steel are shown in long tons in that volume);
data for October 1941-February 1945 will be published later.
cf Since May 1944 the coverage of the malleable iron castings industry has been virtually complete (see note in April 1946 Survey regarding earlier data); total shipments include
shipments for sale and for use by own company, an affiliate, subsidiary or parent company. New orders for sale has been substituted for total new orders which has been discontinued;
data beginning November 1944 for unfilled orders and beginning 1936 for new orders and shipments for sale will be published later.
•New series. Data beginning September 1941 for softwood plywood are shown on p. 16 of the September 1944 Survey. For a description of the series on scrap iron and steel
and pig iron consumption and stocks and 1939-40 data, see note marked "*" on p. S-29 of the November 1942 Survey; later data are available on p. S-30 of the April 1942 and subsequent
issues. The series on pig iron production is approximately comparable with data in the 1942 Supplement (data in the Supplement are in short tons instead of long tons as indicated);
see p. S-30 of the May 1943 Survey for further information on this series and data for 1941-42. The pig iron price series replaces the Pittsburgh price, delivered, shown in the Survey
prior to the April 1943 issue. Data for gray iron castings for 1943-45 are shown on p. 24 of this issue.
^Compiled by the Bureau of the Census, except 1945 production data for radiation which are from the Civilian Production Administration; these data continue similar series from
the Institute of Boiler and Radiator Manufacturers published in the 1942 Supplement to the Survey, except that data for round and square boilers, shown separately in that volume,
are here combined. The series for radiation include data for radiators in square feet of radiation and data for convectors in square feet of equivalent direct radiation. Data for 1942-45
are shown on p. 24 of this issue.
SURVEY OF CURRENT BUSINESS
January 1947
1945
1946
Unless otherwise Stated, statistics through 1941
and descriptive notes may be found in the Novem- Novem- Decem1942 Supplement to the Surrey
ber
ber
ber
S-33
1946
January
February
March
April
May
June
July
August
Septem- October
METALS AND MANUFACTURES—Continued
IRON AND STEEL—Continued
Steel castings:t
Shipments total
_
short tons_. 130,813 123,048
93, 930 91,409
For sale, total
_._
do
27, 489 28,160
Railway specialties
do
Steel ingots and steel for castings:
6,379
6,200
Production-.
thous. of short tons..
Pereent of capacity!
84
79
Prices, wholesale,0275
Composite, flnteheci steel
__
dol. per lb__ .0305
36.00
39. 00
Steel billets, reroliing (Pittsburgh)_~dol. per lone ton
.0210
.0235
Structural steel (Pittsburgh)
dol. per !b_.
18.75
23.13
Steel scrap (Chicago)
dol. per long ton..
Steel, Manufactured Products
Barrels and drums, steel, heavy types:®
Orders, unfilled, end of month..
thousands..
Production
._
___
_
do
Shipments
.
do
Stocks, end of month
_
do
Boilers, steel, new orders:J
Area
.
-„
thous. of sq.ftQuantity
..number..
Porcelain enameled products, shipments} thous. of dol.
Spring washers, shipments
do
Steel products, net shipments:©
TotaL
thoos. of short tons.
Merchant bars
do...
Pipe and tube.
_
_
do...
Plates
_
.._
_.—. d o - .
Rails
_
__
do...
8heets
--..__„
do—
Strip—Cold rolled
_
. do...
Hot rolled
_do...
Structural shapes, heavy
_
do_.Tin plate and terneplate
_.
-do
Wire and wire products.___._.
__do--.
101, 396 146,327 129,211
80,843 108,586 94,630
21,905 33, 598 28,547
123,551
91,715
25,604
119,157
84,422
22,422
5,860
78
4,072
52
5,625
74
6,610
85
6,887
6,518
86
.0301
39.00
. 0235
18.75
.0301
39.00
.0235
18.75
.0301
39.00
.0235
18.75
.0303
39.00
.0235
18.75
. 0305
39.00
.0235
18.75
.0305
39.00
. 0235
18.75
.0305
39.00
.0235
18.75
115,239
85, 391
25,939
99,058
77,071
22, 645
57,423
45,151
8,879
6,058
75
3,872
50
1,393
20
6,507
.0275
36.00
.0210
18.75
.0275
36 00
.0210
18.75
.0288
37.50
.0223
18. 75
130, 450 126, 415 138, 206
94,653 90, 675 98,945
25,993 25,706
24,746
6,910
89
. 0305
39.00
. 0235
18.75
13,612
2,198
2,213
19
4,645
1.823
1,825
5,353
1,810
1,821
27
5,465
1,695
1,7C5
19
839
839
20
6,733
1,428
1,424
24
7,886
2,000
1,988
38
1,861
1,875
24
9,763
1,786
1,782
28
9,960
2,031
2,019
40
10, 318
2,393
2,405
28
12, 202
2,039
2,036
30
13,071
2, 354
r 2, 351
' 33
1, 445
1,409
7,814
1,295
1,222
4,013
374
1,597
1,259
3,355
325
1,606
1,381
5,070
382
1,645
1,154
4,496
317
1,948
1, 531
4,788
355
1,993
2,049
6,151
407
1,725
1,920
5,779
1,797
1,895
5,731
399
2,000
1,480
5,679
455
1,417
1,586
7,221
506
1,646
1, 682
6,692
543
1,968
1,862
8,143
4,367
450
454
367
204
993
108
120
324
209
350
4,298
435
417
387
204
931
104
111
331
210
338
i 4,379
'453
i 401
1341
» 149
i 1,044
i 137
i 138
i 278
1267
1356
4, 214
454
418
371
177
924
106
117
327
249
327
4,336
439
457
361
166
973
118
100
340
265
351
3,667
348
385
263
109
966
121
100
201
241
323
372
334
284
133
877
108
88
274
247
318
4,259
455
427
399
180
960
92
105
313
262
297
4,965
501
501
421
217
1,116
124
137
351
295
387
4, 590
452
446
397
199
1,076
115
137
347
244
365
5, 261
549
498
467
226
1, 233
133
158
387
253
410
NONFERROUS METALS AND PRODUCTS
Aluminum:
52, 329 55,598
38,322
75,844 65,356
40,967 38, 213 66,794
Imports, bauxite 1
. . . . . Jong tons..
77,110 88, 606 95, 038 29,811
.0385
.0550
. 0575 "
.0475
.0575
.0375
.0375
.0475
.0523
.0375
Price, wholesale, scrap castings (N. Y.)..dol. per lb_. . 0682 .0375
.0525
99.4
148.6
178.7
110.7
146. 2
65.2
66.5
80.8
63.8
109. 3
118.6
Aluminum fabricated products, shipments*-mil. of lb_
133.8
.195
.237
.237
.237
.195
.208
.195
.195
.195
.221
.237
Brass sheets, wholesale price, mili..»
dol. per 1b
""."259
.237
Copper.
2,131
7,336
4,225
7,341
9,173
5,386
10,908
6,267
7,301
12,427 10,966
7,489
Exports, refined and manufactures \.
short tons_
8,194 25,164 31,193 20,510 35,755 21, 272 25,182 32, 503
50,860 66,469 60,026
13,560
Imports, total 7
dr>
3,481
1, 225
2,950
2, 656
2,407
1,760
2,2*>2 15,657
1,104
5,058
762
5,486
For smelting, refining, and export ^
do_._
4,712 24, 060 30, 431 15,452 30,269
18, 322 22, 526 31,278
48, 452 54, 217 44,369
11,800
For domestic consumption, total 1do...
814
23,929
11,869
5,782
12,480 20,368
819
1,276
3,701
12,319 18, 272 19,315
Urrefined, including scrap 1
do
3,898 20,358 26,155
7,349
36, 584 41,737 24,001
6,020
50
14,633 17,950
3, 211
Refined V
.-.
do...
.1178
.1415
.1178
.1415
. 1415
.1178
.1178
.1178
.1178
.1406
.1178
Price, wholesale, electrolytic, (N. Y.)
dol. per 1b.
.1704
.1415
Production:^
58,178 41,667 41,832 29,280 31,897 32,785 56,906 64, 462 69,748 ' 72, 807
Mine or smelter (incl. custom intake)-.short tons.
73, 020 65,586 62,641
49,923 20.139
23,870 43,606 59, 591 67,803 77,947
18,989 20,551
75, 066 70, 218 66,062 69.008
Refinery
.'
...do
58, 590 75,756 93,647 95, 267 r 97,527 118,381 113,158 136,481
129, 206 119,973 103,464 115,601 86,089
Deliveries, refined, domesticcf
.
do
91,161
74,425
76, 512 72, 798 74, 339 70, 249 65, 448 75,754 79,145 101,183 94,669 98,619
90,896
Stocks, refined, end of monthef
do
Lead:
12,909
7,506
9, 477 19,295
22, 942 25.199
17,669 12, 291
6,526
4,981
5,217
5,046
Imports, total, ex-mfrs. (lead content) 11
,.do..«
24, 655 22,049 21,801 32,977 31, 373 28,054 27, 324
Ore, domestic, receipts (lead content)c? —-- d o . . .
26,180 32, 812 31,580 31, 550 28, 525 27,081
Refined:
.0825
. 0825 . 0825
. 0650
. 1044 . 0650 .0650
. 0650 . 0650 . 0650 . 0650 .0818
.0925
Price, wholesale, pig, desilverized (N. Y.)._dol. per lb.
45, 399 51,054
47,824
19, 530 18,584 34,029 35,690 40,720 43,062
41,643
25,336
23,766
Production. totalcT
short tons.. 40,041
38, 298 49,795
40,070
24,179 22, 726 18, 393 17,450 32,622 33, 994 39,012 41,217
38, 287 39,991
From domestic ored*
do..-.
32,811
34, 047 41,008
21, 720 25,173 35,591
48,257 28, 702 23,941
34,764 44, 766 44, 304 44,806
Shipmentscfdo
45,312 41,939 41, 758 39, 563 32,969 31,396 34, 275 40, 944 42,992
48, 262 42, 671 43, 746 51,929
Stocks, end of m o n t h s
do—.
Tio:
Imports: 5
3,593
783
3,242
5,074
1,067
1,151
7,640
4,483
3,763
811
5,665
153
Ore (tin content)
long tons..
2,462
2,542
1,977
2,073
22
0
0
213
94
0
2,172
Bars, blocks, pigs, etc
„
..do...
581
.5200
.5200
.5200
.5200
.5200
.5200
.5200
.5200
.5200
.5200
.5200
Price, wholesale, Straits (N. Y.)
...dol. per lb.
.6452
.5200
Zinc:
15,729 31,057 21, 241 25, 424 14,425
27,662 44, 766 33,878 32,419
39,4S1
31, 522 31,826
Imports, total (zinc content) 1.
short tons.
3,476
742
779
312
2,993
3,639
735
1,111
3,102
5,287
1,881
For smelting, refining, and export f
do
878
For domestic consumption: f
8,89917,242
13,069
7,616
28,365
14,300 29,031
18,291 21,943
19,982 14,007
20,456
Ore (zinc content)
do.
3,758
12,742 12,485
9,697
4,545
7,235
9,235
10,337 17,646
13,050
5,788
4,784
Blocks, pigs, etc..
.....
.do.
Price, wholesale, prime, Western (St.
.0825
. 0887
.0825
.0825
.0825
.0825
.0825
.0825
.0825
.0825
.0923
.1012
Louis)..
dol. per lb_.
61, 274 71,612 60,903 62,416 58,812 59,014 59, 752 58, 475 64,138
Productiond'
short tons.. 66, 818 64, 337 66,162 65,901
73,915
51,886
54.856
83,
693
62,324
58,
635
69,
489
69,220
65,927
73,191
60,492
54,449
91,397
Shipments^*
do.
47,169
41,349 66,159 60,809 60, 380 51,101 58,321 43, 522 60,130 r 71, 667
75,749 51, 326 56,180
Domesticcf
do.
195, 805 255, 553 259,391 266,657 273,075 260,994 248,706 241,633 239,953 229,747 237, 613 230,161 220, 384
Stocks, end of monthd"
do.
f
Revised, i Total for January and February. ® Beginning 1943 data have covered the entire industry.
| For 1946 percent of capacity is calculated on annual capacity as of Jan. 1,1946, of 91,890,540 tons of open-hearth, Bessemer, and electric steel Ingots and steel for castings; 1945 data
we based on capacity as of Jan. 1,1945 (95,501,480 tons).
t Based on information recently available it is estimated that data beginning 1945 represent substantially the entire industry; in prewar years the coverage was about 90 percent.
0 Total shipments less shipments to members of th® industry for further conversion; data prior to 1944 were net production for sale.
t Data continue series published m the 1942 Supplement but suspended during the war period; data for October 1941-February 1945 will be published later.
cf For data for January 1942-April 1944 for the indicated copper, lead and zinc series, see p. 24 of the June 1944 Survey. Total shipments of zinc include for December 1945-September 1946 shipments for Government account in addition to shipments to domestic consumers, shown separately, and export and drawback shipments.
•New series. Data for aluminum fabricated products cover total shipments of castings, forgings. sheet, strip, plate, rods, bars, and other wrought products, exclusive of products
shipped to other manufacturers for further fabrication into other wrought products; data were compiled by the War Production Board through September 1945 and by the Bureau of the
Census thereafter. Data have been revised beginning January 1945 to include estimated industry tocals for castings based on monthly reports from the larger founderies and annual
reports for 1945 from the smaller ones. Data for castings included in the totals prior to 1945 are estimated to cover about 98 percent of the industry but the small amount omitted
affected the combined total for castings and wrought products only slightly since the former represented only about one-fifth of the total. The coverage of wrought products is virtually
complete; weights for some wrought products were gathered at a different stage of manufacture beginning October 1945, but it is believed that the comparability of the totals is not
seriously! affprfed. For revised figures for early months of 1945, see p. 8-33 of the June 1946 issue.
t Revised series. Data for steel castings are estimated industry totals; see note marked " t " on p. S-32 of the July 1946 Survey for a further description of the data and comparable figures for January-April 1945.
SUEVEY OF CUEEENT BUSINESS
S-34
1945
1946
Unless Otherwise stated, statistics through 1941
and deseriptlre notes may be found in the Novem- Novem- Decem1942 Supplement to the Surrey
ber
ber
ber
January 1947
1946
January
February
March
April
May
June
July
August September
October
METALS AND MANUFACTURES—Continued
MACHINERY AND APPARATUS
Electric overhead cranes:§
Orders, new
.
thous. of dolOrderg, unfilled, end of month
do
Shipment?
do
Foundry equipment:
477.4
New orders, net total
„
1937-39-100...
421.0
New equipment..
do
661.5
Repairs
..do
Heating and ventilating equipment:
Blowers and fans, new orders
thous. of doL.
Oil burners:©
Orders, new, net
number.. 105,189
990, 350
Orders, unfilled, end of month
do
71, 805
Shipments
do
7,588
Stocks, end of month
_
..do
Mechanical stokers, sales:J
Classes 1, 2, and 3
do.... 14,946
Classes 4 and 5:
357
Number
58, 495
Horsepower
Unit heater group, new orders*
thong, of dol.
Warm-air furnaces (forced air and gravity flow),
86,584
shipments*
number.
Machine tools, shipments*
thous. of doL. 26,176
Pumps and water systems, domestic, shipments :d*
Pitcher, other hand, and windmill pumps.-....units.. 28,917
57,985
Water systems, including pumps
do
Pumps, steam, power, centrifugal, and rotary:
3,260
Orders, new
thous. of dol.
1,799
10,690
675
1.366
11,365
1,607
12,185
757
1,386
12,772
786
1,422
13, 396
781
1,049
13,546
850
1,792
14,677
1,029
1,456
15,132
994
2,360
16, 242
802
1,565
16, 549
1,252
416.6
419.4
406.8
547.6
600.8
360.8
392.8
391.1
391.7
432.8
458.7
342.6
536.6
676.7
351.8
701.2
779.8
427.7
577.3
621.7
426.2
491.7
492.8
488.2
453.4
444.8
481.1
538.7
555.5
484.1
1,082
15, 811
1,192
424.4
415.4
453.5
2,346
16, 775
1,348
469.2
407.1
672.0
17, 382
12,262
13,423
16,604
127, 285 159, 375 92, 927
590,942 717, 642 777, 381
34,943
32,675
33,188
5,785
6,130
5,835
80, 294 r 98,380
931.882 956, 966
55, 713 ' 73, 296
6,407
5,195
68,075
266, 976
26,172
5,279
32,150
277,211
21,915
6,166
82,489
330. 206
29,494
6,531
138, 828
442,220
26,814
6,256
78,941
498,600
30, 681
4,691
21,434
13,746
14,007
14,328
16,038
14,399
14,688
13,389
17, 503
20, 535
400
76,520
331
63,380
8,526
246
59,382
248
69,070
275
73,717
8,417
345
88,485
80, 586
309
75,274
' 7,628
329
82, 700
427
70,827
41,465
26,084
33, 253
23,276
37,789
30,263
39,664
26,949
47,100
27, 326
43,186
28,108
47,321
26, 580
49, 337
28,580
48, 912
22, 360
62,094
26,911
• 72, 033 • 83,122
25,468 • 29,140
24,050
36, 529
23,600
33,718
27,563
46,094
24,093
37,528
27, 231
44,870
28,157
44, 887
23, 587
45,150
27, 741
45,349
22, 663
54, 434
25,003
59,874
• 24,082 30, 552
58, 751 • 68, 289
2,482
1,925
2,836
2.728
2,489
2,803
2,856
2,648
4,014
3,789
3,223
3,581
1,834
1,685
1,768
1,706
1,672
1,645
1,377
1,161
1,471
1,318
1,355
202
254
227
345
217
213
187
222
224
429
225
385
242
404
227
465
252
432
284
492
5,856
624
2,556
7,626
613
3.144
6,343
570
2,694
6,589
614
2,216
5,786
604
2,759
6,105
527
2,738
5,357
351
3,060
9,099
606
2,878
9, 379
771
3, 268
2,104
3,507
8,240
714
3,761
4,328
5,633
7,260
1,720
1,352
12,732
6,143
10,813
1,358
2,067
12,900
3,365
5,818
565
779
14,109
3,243
6,530
456
894
10, 887
5,924
12, 767
868
1,840
6,590
4,726
10, 222
600
1,414
12,940
5,281
10,809
847
1,844
16,103
5,873
13,095
973
1,735
16,129
6,154
13, 377
987
1,589
15, 705
7,519
15, 445
1,234
2,067
21, 471
7,871
13,808
1,011
1.741
18,683
8,621
14,756
1,344
2,204
20, 742
3,152
875
4,093
921
4,359
1,265
4,222
1,104
4,474
1,211
3,389
1,138
3,214
1,038
3,247
824
3,183
1,056
3,790
1,288
4,125
1,330
5,059
1,765
1,511
1,716
3,117
1, 512
1,433
3,038
1,516
1,331
2,853
1, 514
1,604
2, 942
1,423
1,723
3,241
1,558
1,920
3,639
1,503
1,821
3,956
1,628
1,695
4,023
555, 229 616,542
545, 602 637,199
316,488 337,518
606,662
653,188
99,907
87, 531
824, 335 907,301
55,909
40, 577
5,543
6, 626
19, 436 ' 17, 269
450
63,055
10,193
M54
78,454
ELECTRICAL EQUIPMENT
Battery shipments (automotive replacement only),
number*
_
.-thousandsElectrical products :t
Insulating materials, sales billed1936-= 100..
Motors and generators, new orders
do
Furnaces, electric, industrial, sales:
Unit
..kilowatts.Value
thous. of doL
Laminated fiber products, shipments
do..
Motors (1-200 hp):
Polyphase induction, billings..
do.._.
Polyphase induction, new orders.
do
Direct current, billings ._
do
Direct current, new orders
do....
Rigid steel conduit and fittings, shipmentsf short tons..
Vulcanized fiber:
Consumption of fiber paper
.thous. of Ib__
Shipments
.thous. of dol..
1,150
4,074
4,741
1,640
PAPER AND PRINTING
PULPWOOD AND WASTE PAPER
Pulpwood:*
Consumption
Receipts, total
Stocks, end of month
Waste paper:*
Consumption
Receipts..
Stocks
thous. of cords (128 cu. ft.).
do...
do...
1,401
1, 225
2,877
1,314
1,070
2,627
1,294
1,354
2,687
.short tons.
do...
do—_
568,048
566, 858
330,919
500,546
496. 036
326,689
590,097
589, 511
326,238
1,286
I, £11
2,913
620,830 578,075 558, 257 635,827 607, 231 681, 290
639, 991 606, 548 596, 609 635, 567 604,136 708,103
401, 667 426,750 4C4, 831 460,946 453, 896 480, 624
WOOD PULP
Exports, all grades, total}
short tons.
3,461
1,095
2,906
5,092
1,359
3,198
3,591
2,302
4,334
6,057
4,780
1,058
230,024 271,856 232,963 142,069 109, 769 118, 276 123, 985 150, 216 212, 697 147,417 133,141 152, 660
Imports, all grades, total X
do...
7,817
4,783
5,780
6,846
3,996
10,584
5,213
5,322
9, 757
6,348
7,562
BJeached sulphate t
do
3,263
10, 505 20,352
55 022 100, 745 88,447
26,482
31,741
29,292
32,893
64,109
11,435
Unbleached sulphate X
do.._
33,864
42, 638 39, 406
36, 779
37, 757
37, 299
38, 672 36,194
38, dO9
37, 439 33,988
28,104
31,113
Bleached sulphite X
do...
36,085
37,158
99,480
49,818
78,176
78, 483 45, 242 37,715
99,529
Unbleached sulphite X
do..49, 574 49, 822 62, 459
1,928
1,740
1,879
1,717
1,943
2,170
1,699
1,556
1,249
1,990
1,410
Soda X
---do-._
1,529
23,647
21,194
25,295
22,
548
21,011
19,502
26,948
21,
9G7
14,418
20,824
17,113
Groundwood \
.do..25,199
' Revised.
§ Revisions in unfilled orders for April-July 1942 are available on request; data cover 9 companies since September 1944; earlier data back to March 1943 covered 8 companies.
© Data are based on reports of 124 manufacturers accounting for practically the entire production of oil burners; in prewar years the reporting concerns accounted for around 90
percent of the industry.
1 Data cover almost the entire industry; in prewar years the reporting concerns represented over 95 percent of the total.
• Includes unit heaters, unit ventilators, and heat transfer coils; the designation has, therefore, been corrected from "unit heaters" to "unit heater group" to avoid misinterpretation.
c? It is believed that data shown currently and also earlier data for these products are substantially complete.
t Data continue series published in the 1942 Supplement but suspended during the war period; data for October 1941-February 1945 will be published later.
•New series. The series on automotive replacement battery shipments are estimated industry totals compiled by Dun and Bradstreet; data beginning 1937 are available on
request. For 1940-41 and early 1942 data on machine tool shipments, see p. S-30 of the November 1942 Survey; data beginning August 1945 are estimated industry totals compiled by
the National Machine Tool Builders Association; earlier data were compiled by the War Production Board. The new series on shipments of warm-air furnaces is compiled by the
Bureau of the Census from reports by manufacturers accounting for almost the entire production; data beginning January 1944 will be published later. Data through August 1945
for the pulpwood series and for receipts and stocks of waste paper were compiled by the War Production Board; data beginning October 1945 for all series and earlier data for waste
paper consumption are compiled by the Bureau of the Census (waste paper consumption through September 1945 were compiled from reports to the War Production Board); September data for all series were estimated by that agency from partial reports to the War Production Board. Data cover all known producers of pulp, paper, and paper board; a small
proportion of the data is estimated.
fRevised series. The index for motors and generators includes adjustments for cancellations reported through December 1945; data published for this index prior to the July
1946 Survey and for the index for insulating materials prior to the April 1945 Survey, have been revised (revised April 1945 figure for the index of sales of insulating materials, 378);
all revisions are available on request. Data for rigid steel conduit and fittings have been revised to cover domestic sales only (some manufacturers formerly included export sales);
revisions through April 1945 will be published later.
SUEVEY OF CURRENT BUSINESS
January 1947
1946
194S
Unless otherwise stated, statistics through 1941
and descriptive notes may be found in the Novem- Novem- Decem1942 Supplement to the Survey
ber
ber
ber
S-35
1946
January
February
March
April
May
June
July
August
Septem- October
ber
PAPER AND PRINTING—Continued
WOOD PULP—Continued
Production :f
Total, all grades..
_
short tons
Bleached sulphate
_
do__.
Unbleached sulphate
_
do__.
Bleached sulphite
do__.
Unbleached sulphite.__
_do._.
Soda
do__.
Groundwood
_
_do__,
Stocks, end of monthrf
Total, all grades
_
_
_
do.-,
Bleached sulphate.._
_
do...
Unbleached sulphate
__do__.
Bleached sulphite
.
.
do
Unbleached sulphite
—..
do__.
Soda
do__.
Groundwood
do_~
876. 781
77,016
336. 697
144,150
72,015
40,685
158,714
799, 579
71,683
299,256
132, 878
66,105
38, 408
147,473
706, 722
64,504
246,570
119,761
59,806
35,925
143,283
727,224
59,004
230,809
136,813
64,513
39,553
155,756
720,239
63,011
250,454
127, 991
58,989
35,886
143, 333
855,139
78,144
320,300
14@, 669
64,546
41,320
163,110
849,772
76, 411
316,854
141,876
62, 347
41,612
164,589
849,126
78,670
307, 975
150,015
65,563
38,631
161,044
841,674
77,336
323, 722
138,986
65,455
38,386
149,840
787,672
71,931
309,614
132,575
56,675
37, 583
133, 614
858, 510
80,170
331, 586
143,184
69, 272
42,655
140, 027
808,650
76,008
314, 645
135,185
64,407
38,947
132,787
'905, 374
79, 811
343,457
'152,654
r 75, 732
42, 010
'159, 873
76, 592
6,218
8, 765
18, 615
15,294
2,613
21,423
68,665
5,471
8,984
14,400
9,405
1,959
24,361
71,195
3,999
8,894
17,105
9,461
1,933
26,481
67,026
3,855
7,340
15, 397
9,374
2,041
25,638
74,295
6,970
6,556
18, 561
10,105
2,181
26,253
74,906
5,203
77,173
6,265
7,624
14,834
8,451
2,711
34,089
88,429
7,358
8,055
17, 515
11,179
2,918
37,983
85,313
6,291
8,013
14,363
11,800
2,329
39, 252
83,178
7,119
17,362
8,786
2,645
29,870
77,606
6.021
6,430
17.185
13, 605
2, 726
28,230
71,916
7,193
8,350
16, 713
12.154
2,690
21,381
' 72,432
7,589
7,865
r 17, 620
' 15, 399
2,481
'17,943
1,503.923 1.369,516 1,508,961 1,428,745 1,638,097
760,310 709,444 782,844 720, 336 819, 320
743,613 660,072 726,117 708,409 818,777
87,831 96,874 94,495 106,443
1,628,857
813,674
815,183
108,287
1,621,346
823.646
797, 700
106,571
6,773
17,933
11,043
2,448
34,940
PAPER AND PAPEE PRODUCTS
All paper and paperboard mills:*
Paper and paperboard production, total..short tons.
Paper
do
Paperboard
do
Building board
do
Paper, excl. building paper, newsprint, and paperboard
(American Paper and Pulp Association):!
Orders, new
short tons..
Production
do
Shipments
do
Fine paper.
Orders, new
do
Orders, unfilled, end of month
do—
Production
do
Shipments
—do—
Stocks, end of month
do_,_.
Printing paper:
Orders, new
~— „
do
Orders, unfilled, end of month
do—
Production..
do
Shipments
do—
Stocks, end of month
_
do
Wrapping paper:
Orders, new.
„
do
Orders, unfilled, end of month
do
Production
do
Shipments
do
Stocks, end of month
do
Book paper, coated:
Orders, new
_
percent of stand. capacityProduction
do
Shipments
_.,
do
Book paper, uncoated:
Orders, new
do
Price, wholesale, " B " grade, English finish, white,
f. o. b. mill
dol. per 100 l b Production
percent of stand. capacityShipments
do—
Newsprint:
Canada:
Production
_
short tons
Shipments from mills.-.do—
Stocks, at mills, end of month
-do—
United States:
Consumption by publisher!
do—
Imports^
do—
Price, rolls (N. Y.)_.
-do!, 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 (National Paperboard Association) :J
Orders, new.
...
do
Orders, unfilled, end of month
do
Production.
-do—
Percent of capacity
---Waste paper, consumption and stocks:§
Consumption . . . .
short tons..
Stocks at mills, end of month
.do
Paper products:
Shipping containers, corrugated and solid fiber, shipments*
mil. sq. ft. surface area..
Folding paper boxes, value:*
New orders
1936=100..
Shipments..
.._.
do
649,635 587,104 553, 553 682,014 593,256 700,693 682,491 657,053
698,473 619,717 580,487 644,266 591,121 681,001 666,108 672,370
703, 538 616, 249 563,008 653, 559 592, 627 682, 398 665,605 670,144
1,596,773 1,474,261 1,684,906 1,596,187 1,750,896
820,090 766, 906 864, 982 799, 698 891, 550
776,683 707, 355 819, 924 796, 489 859, 346
99,002 72,051
90, 479 109,016 125, 532
669,564
671,335
677,096
659,247
613,822
613,441
100, 854 85, 449 •101,055
187, 924 161. 480 ••176, 288
89,320 103,161 ' 92, 573
85,824 99, 592 ' 88,037
56,150 53, 504 r 59,081
'109, 332
'174,098
' 3,279
'112, 537
' 54,635
202, 087
229.328
236, 530
237,857
55,331
'234,622
'241,498
219, 460
••213,137
' 59, 320
'254,603
'248, 257
'247, 283
'249, 933
' 62,013
261, 804
193,693
266, 987
267, 254
64,162
'253, 345 '278,773
'213. 506 '214,298
'248,021 '275,742
'243, 728 '276,005
' 72, 263 ' 71,230
81.006
79, 761 101,382 83, 681 104.902 107,677
155,801 140, 438 129, 598 135,896 136. 513 149, 408 161,287
100,130 93,479 85,743 92,351 84,450 92,218
94,770
96,129 91.840
101, 584 93, 017 79,314 94,431 85,596
57,412
53,721
55,963
56,349
55,904 62, 335
53,391
89,017 108,191
155,066 176,437
97, 896 97,790
97, 207 99,684
57,543 59,500
221, 980 184,014
225, 470 196,654
234,707 200, 557
236, 732 198. 476
53,251 62,627
171,937
179.989
191. 434
187, 420
64,962
247,377
247,788
219. 785
221,406
57,996
203, 257
250,553
198.199
198.897
56,942
234,395
261,171
227,104
223.972
58,298
227,871
255,855
226, 978
228,219
56,934
225, 245
259,124
228. 291
229,400
55,350
214, 214
252,603
226,110
288, 049
53,512
225, 529
258,456
206,408
206,958
53,225
256,649
200, 563
268. 461
269, 372
67,175
228,184
213.983
233. 507
232,984
69,869
216,125
207,920
214. 719
209,993
72,490
231,270
192,175
232, 704
238,186
67,047
215,089
190,398
217, 692
217,859
68,273
262,247
205,926
262,799
264, 054
75,122
247, 243
199,825
247, 098
247, 587
71,082
247, 803
186,017
252,282
250,157
67,512
254,258 247, 518
194,966 197,977
254,348 237,498
256,630 237,170
65,970 65, 867
60.5
67.7
66.7
62.6
64.7
67.0
89.2
92.9
0)
0)
0)
0)
7.30
97.2
96.1
7.30
96.4
93.5
7.58
(0
0)
8.00
8.00
8.00
8.00
8.55
364, 304 299,158
391, 388 298,005
85,948 66,194
276,931 328,414 308,382
262, 765 316,320 285,304
80,360 92,454 115,532
8.00
646,889 '681,582 '745,909
704,694 '648, 551 '725,041
701,343 '632, 877 736, 737
8.00
8.28
8.55
8.55
334,127 337,862 359,943 334,207 357,027 370.676 330,063 376,436
320, 351 348,103 367,251 322.805 364,591 356, 572 335, 874 387, 294
129, 308 119,067 111,759 123,161 115, 597 129, 701 123, 890 113, 032
236,090 225,378 221,054 223,244 267. 711 258, 984 261,484 259,284 243,072 260, 059 268, 387 292, 205
206,659 232,618 244. 469 238,888 269. 795 285,017 313, 270 275.470 326, 399 295, 934 293. 228 305, 777
67 00
67.00
80.00
67.00
67.00
67.00
71.08
67.00
74.00
73.80
61 00
61.00
64, 739 62.602 61. 563 67.819 60, 564 65. 304 67,064 65, 927 61,241 62,742 65,129 61,025 67, 248
62,107 62, 186 62,551 66,102 59,015 67,658 67,698 65,699 61,671 60,249 67, 206 55, 587 66, 966
291,517
8,057
7,328
6.340
246, 227 222, 266 221,957
47,556 44,078 55,206
7,252
9,606
6,846
6,618
6,416
216, 241 198.122 201, 776 210. 276 209,784
60,277
55,341
56,332 59,257 52,155
8,909
226,577
61,735
6,832 12,270 12, 552
243, 331 240, 602 217, 303
64,331
60, 634 82,167
690, 702 653,196 601,526 685, 788 641, 342 754, 872 747. 907 771,331 669, 747 715,696
545, 042 472, 568 462, 446 516,776 533, 794 549, 929 553, 274 567,068 558,129 620,354
737,454 664,076 583, 569 624,862 614,867 710. 987 716, 274 703,422 675,118 663,229
97
94
100
97
90
85
95
729,066 699, 362 791, 784
564, 299 569,409 601,787
754,177 679, 504 767,091
96
100
15,184
217,438
79,676
474, 317 385. 249 347, 495 397,534
304,100 204,675 199,353 204,736
372,489
193,885
412,718
211,335
413.131 408,173 374,295 369,803
238, 597 259, 832 283,996 315,236
439, 696 399, 684 420,867
313,975 299, 218 309, 990
5,24]
4,421
4,047
4,800
4,345
4,923
5,078
4,975
4,730
4,763
5,233
4,919
5,512
363.8
397.0
302.7
288.3
274.5
260.7
347.7
301.3
324.8
283.1
397.0
322.1
389.5
338.0
379.6
338.4
362.7
331.3
361.0
300.5
381.0
368.3
414.6
351.5
440.2
409.4
863
704
159
536
477
731
609
122
281
67
465
368
97
638
518
120
664
539
125
682
553
129
679
556
123
536
422
114
PRINTING
Book publication, total
New books
_
N e w editions
no. of editions..
do
do
510
401
109
532
124
848
675
173
' Revised.
§See note in April 1946 Survey for basis of data.
JFor revisions for January 1942-March 1943, see note for paperboard at bottom of p. S-36 of July 1944 Survey.
i No comparable data available after December 1945.
IData continue series published in the 1942 Supplement but suspended during the war period; data for October 1941-February 1945 will be published later.
fRevised series. Revised woodpulp production for 1940-43 and sulphite stocks for all months of 1943 arc shown on p. 20 of the December 1944 Survey and revised 1942 stock figures
for all series are on pp. 30 and 31 of the June 1943 issue; there have been further revisions in the 1943 data for groundwood and total production shown in the December 1944 Survey
and unpublished revisions in the 1944 production data for these two series; all revisions will be shown later. The data exclude defibrated, exploded and asplund fiber; stock data are
stocks of own production at mills. The paper series from the American Paper and Pulp Association beginning in the August 1944 Survey are estimated industry totals and are not
comparable with data shown in earlier issues; there have been further small revisions in the 1943-44 data as published prior to the June 1945 issue; these revisions and earlier data
will be published later.
*New series. The new paper series are from the Bureau of the Census and cover production of all mills including producers of building paper and building boards; for 1942 monthly
averages and data for the early months of 1943, see p. S-32 of the August 1944 issue. For data beginning 1934 for shipping containers, see p. 20 of the September 1944 Survey. For
data
June 1943 for folding paper boxes see p. S-32 of the August 1944 Survey; earlier data will be published later. Minor revisions in the January-May 1944 figures for
Digitized
forbeginning
FRASER
folding
paper boxes and January 1943-May 1944 data for shipping containers are available on request.
SURVEY OF CUEEENT BUSINESS
S-36
1946
1945
Unless otherwise stated, statistics through 1941
and descriptive notes may be found in the Novem- Novem- Decem1942 Supplement to the Survey
ber
ber
ber
January 1947
1946
January
February
March
April
May
June
July
August
September
October
PETROLEUM AND COAL PRODUCTS
COAL
Anthracite:
Exports §
thous. of short tons.
Prices, composite, chestnut:
Retail
dol. per short tonWholesale
do
Production
thous. of short tons.
Stocks, producers' storage yards, end of mo
do.-.
Bituminous:
Exports §
do.
Industrial consumption and retail deliveries, total
thous. of short t^ns.
Industrial consumption, total
...do...
Beehive coke ovens
__.do...
Byproduct coke ovens
do...
Cement mills
_
do...
Electric power utilities
do__
Railways (class I)
do...
Steel and rolling mills
.do
Other industrial
do_._
Retail deliveries
do.__
Other consumption:
Vessels (bunker)§
_
__.do_..
Coal mine fuel
do...
Prices, composite:
Retail (34 cities)
dol. per short ton.
Wholesale:
Mine run
.do...
Prepared sizes
do
Production!
thous. of short tons.
Stocks, industrial and retail dealers, end of month,
total
thous. of short tons.
Industrial, total
do_._
Byproduct coke ovens
do_._
Cement mills
do...
Electric power utilities
.do...
Railways (class I)
do__.
Steel and rolling mills..
..do...
Other industrial
__
_do.._
Retail dealers, total
.do
404
359
317
314
116. 80
13.597
4,990
236
14.93
12. 281
4,559
132
15.08
12.389
3,998
130
15.20
12. 454
4,982
157
15.26
12. 469
4,788
192
3,471
2,208
2,813
3,130
3,633
1,744
732
3,245
5,418
5,875
5,070
44, 521
35,406
567
6,992
694
6,447
8,879
799
11,028
9,115
44,089
34,596
571
6,798
477
5, 480
9, 870
811
10,589
9,493
51, 679
38, 446
612
7,333
467
5,804
11,005
921
12, 304
13, 233
61,826
36, 542
631
5,299
471
5,706
10,976
552
12, 907
15, 284
46,244
31, 281
570
3,744
441
4,929
9,827
683
11,087
14,963
43, 627
35, 382
719
7,101
503
5,110
10, 391
815
10,743
8,245
32,043
28,118
38
5,502
518
5,190
8,246
749
7,875
3,925
28,496
25,030
35
3,654
432
4,585
7,902
546
7,876
3,466
34,012
29,548
571
6,309
575
5,024
8,257
582
8,230
4,464
39,235
32, 744
716
7,551
632
5,714
8,720
671
8,740
6,491
41, 565
33, 958
788
7,781
675 {
6,314
9,092
760
8,548
7,607
42,424
34, 041
729
7, 578
656
6,280
8,790
725
9,283
8,383
129
222
103
202
111
237
219
122
14
93
158
222
138
223
146
240
11.14
10. 59
10. 59
10.69
10.69
10.70
10,73
10.93
11.23
11.23
5.454
5.709
3,434
5.454
5.715
19, 790
5.928
6.167
51, 205
5.962
6.178
54, 450
5.973
6.197
51,680
38, 741
36,398
4,117
414
12.044
7; 554
607
11, 662
2,343
31, 643
29, 937
2,565
289
9,949
6,202
460
10,472
1,706
5.787
6.028
50, 350
37, 777
35, 213
3,630
482
11,430
7,297
624
11, 750
2,564
43, 611
40,450
3,871
591
12, 594
7, 641
642
15,111
3,161
47,990
44, 567
5,230
768
13,907
8,117
843
15,702
3,423
52, 367
48, 965
5 924
891
14, 563
8, 800
855
17, 932
3,402
2
15.26
12.469
5,492
214
387
546
366
657
764
717
15.25
12. 469
r 5,084
176
15.27
12.484
5,469
79
15.28
12. 710
3,636
63
16.55
13. 614
5,263
83
16.56
13. 588
5,444
94
116. 81
13. 596
5,048
132
249
134
224
2
11.10
10.69
5. 998
6.212
37, 390
5.433
5. 70S
50, 772
5.436
5.708
46,798
5.443
5.709
54,075
52,429
49, 546
6, 355
1,054
14,549
7,587
877
19,124
2,883
48, 919
44, 689
4 G07
670
15,137
10, 056
602
13,617
4,230
45, 665
42. 450
4, 804
641
14,668
8,985
593
12, 759
3,215
46, 528
44,049
5,661
594
14, 378
9,393
626
13, 397
2,479
156
168
160
219
162
70
29
82
113
97
93
8.750
7. 500
7.500
7.500
7.500
7.500
7.500
7.500
7.500
8.750
8.000
8.750
364
4,925
368
4. 828
152
394
5,208
163
927
498
429
158
24
3,852
181
620
442
178
144
366
4,418
159
616
360
256
85
460
5,323
168
1,002
490
512
159
462
5,000
167
1,016
814
203
142
22
2,574
164
1,034
602
432
405
3, 800
161
970
666
305
146
506
5,462
186
807
398
409
72
468
5, 345
190
949
503
446
5.447
5.709
49,975
51,158
48,047
6,393
608
14, 802
11,070
705
14, 469
3,111
5.454
5.709
56,540
58, 531
55, 386
8,269
677
15, 705
13, 235
1,005
16, 495
3,145
COKE
Exports §
thous. of short tons.
Price, beehive, Connellsville (furnace)
dol. per short ton
Production:
Beehive.
_.
_
.thous. of short tons
Byproduct
____
do__
Petroleum coke
__~I"_II ~ " " d o
Stocks, end of month:
Byproduct plants, total.
.do
At furnace plants
do...
At merchant plants
._
.do
Petroleum coke
do
% 632
149
1,161
934
227
147
465
292
172
120
709
361
348
PETROLEUM AND PRODUCTS
Crude petroleum:
138, 705 141.779 140,130 130,232 144, 488 139,884 148, 621 145,069 150,541 150, 550 145,181
Consumption (runs to stills)f
thous. of bbl
3,455
4,291
2,536
Exports§
_
do
1,495
4,272
3,839
3,401
2,418
2,610
3, 687
4,602
7, 577
7,575
Imports §
.
do
(i, 789
7,867
8, 302
6,578
7,102
7,784
6,268
8, 255
7, 631
1.260
1.110
1.110
1.190
1.110
1.110
1.110
Price (Kansas-Okla.) at wells
dol, per bbl
1.210
1.210
1.460
1.485
1.460
135,252 138, 495 143,368 132.129 136,835 140,196 148,334 146,890 152, 586 149,910 143,708
Production!thous. of bbl
92
Refinery operations.
pet. of capacity
92
95
94
91
95
96
96
Stocks, end of month:
218, 916 218, 763 223. 442 227, 220 221,400 222,480 221, 592 223,140 224, 351 224,157 222,417
Reflnablein U. S.f
thous. of bbl
52,756
50, 276
At refineries
do
51,819
55, 430 53,128 54,529 52,988 55,119 53,532 54, 785 53, 894
151,753 153, 957 156, 790 157.315 153, 419 153,186 153,765 152, 786 155, 656 154, 501 153,409
At tank farms and in pipe lines
.do...
14, 407
On leasesf
_
do
14, 530
14,833
14, 475 14, 853 14, 765 14, 839 15, 235 15,163
14, 871 15, 054
4,968
4, 610
Heavy in California
_._
do
4,533
4,913
4,496
4,921
4,554
4,528
4.607
5, 066
5, 401
1,241
1,156
Wells completed!
number"
1,236
1,302
1,291
1, 330
1,396
1,333
1,425
1,112
1,333
Refined petroleum products:
Gas and fuel oils:
Domestic demand:?
19, 102
28, 626
29,473 25, 341 19,804
Gas oil and distillate fuel oil
thous. of bbl
18,063 ia.297 14,850 15,098 13, 828 14, 520
42, 713
45, 726
Residual fuel oil
do
44, 966 39,332 42,229 37, 911 39,346 39, 283 36,734 '37,925
33, 509
Consumption by type of consumer:
2, 512
2,043
2,570
3,511
2,851
Electric power plantsf
_
do
2,157
2,261
2,141
1,968
4, 336
2,914
2,963
6, S03
7,274
7,804
6,500
6,461
6,859
Railways (class I)._
_
do
6. 935
6,584
6,950
6,729
7,625
5,547
6,131
4,621
5,346
Vessels (bunker oil) §
do
6,999
5,436
5,967
4,874
5,374
6,049
3,695
Exports:§
2,421
2,540
2,017
Gas oil and distillate fuel oil
do...
3,684
2,456
1,723
3,407
3,978
1,797
1,992
2,715
239
Residual fuel oil
do
351
374
569
324
578
363
730
321
317
507
.058
.058
.058
Price, fuel oil (Pennsylvania).
dol. per gal
.058
.058
.058
.058
.062
.062
.062
.058
.058
Production:
19, 964
21,176
24,390 23,047 25,298 23,181
23,348 23, 320 24, 589 23,703
Gas oil and distillate fuel oil
thous. of bbl.
23 877
37,937
38, 609 37, 940 34, 791 37, 598 37,407
Residual fuel oil
do
37,816 36,569 36,060 35,942 34,' 512
Stocks, end of month:
44, 562
35, 778 28.990 25,511
Gas oil and distillate fuel oiL..
do
29,922 32,064 33,885 38,824 46,439 54, 068 62,019
41, 322
37,158 34, 573 34,008 32, 995 35,206 38,932 41,492 45,446 48,186
Residual fuel oil
_
do
54,012
Motor fuel:
53, 581
50, 129 51, 186 47.889
Domestic demand§
thous. of bbl
56, 801 62,045 66,774 63, 221 69,044 66,701
62, 216
2, 794
Exports§
__
_
_._do.-_.
2,826
3,248
3,604
5,258
4,949
4.452
3,620
2,321
4, 524
2,555
Prices, gasoline:
.060
.059
.054
.050
Wholesale, refinery (Okla.)
dol. per gal
.056
.058
.050
.055
.053
.070
.070
.151
.149
.145
.149
.149
Wholesale, tank wagon (N. Y.)_
...do...149
.145
.149
.146
.159
.158
.159
.141
.142
.142
.151
.142
Retail, service stations, 50 cities
do
.142
.141
.142
.156
.142
.155
.155
'1 Revised.
Two cities formerly included in the average were dropped in September 1946 (August figure excluding these cities, $16.54); one dropped in October but average not affected.
2 The average includes only 32 cities for September 1946 and 31 cities beginning October 1946; the August 1946 average excluding the 2 cities dropped in September is $10.93;
September 1946 figures for 31 cities, $11.07.
§ Data continue series published in the 1942 Supplement but suspended during the war period; data for October 1941-February 1945 will be published later.
f Revised series. For source of 1939-41 revisions for bituminous coal production, see note marked' *f" on p. S-32 of the April 1943 Survey; revisions for 1942-43 are shown on p.
8-33 of the April 1945 issue. For 1941 revisions for the indicated series on petroleum products on this page and p. S-37, see notes marked "f" on p. S-33 of the March and April 1943
issues
(correction for crude petroleum production January 1941, 110,446), and for revised 1942 monthly averages, se^, note marked "f" on p. S-33 of the July 1944 issue; 1942 monthly
revisions and revisions for 1943 are available on request.
SURVEY OF CURRENT BUSINESS
January 1947
1946
1946
Unless otherwise stated, statistics through 1941
and descriptive notes may b* found in the Novem- Novem- Decem1942 Supplement to the Survey
ber
ber
ber
S-37
1946
January
February
March
April
May
August September
October
June
July
67, 445
26,000
33, 921
9,558
1,928
106
5,229
2,856
69, 707
26, 733
35, 346
9,821
2,085
108
5,774
2,784
66, 284
25, 384
33,530
9,574
2,082
122
5,390
2,555
67,305
25,155
34,452
10, 275
2,444
133
6,023
PETROLEUM AND COAL PRODUCTS—Continued
PETROLEUM AND PRODUCTS—Continued
Refined petroleum products—Continued.
Motor fuel—Continued.
Production, totalt
...thous. of bbl_.
Straight run gasoline
-do—
Cracked gasoline
do—
Natural gasoline and allied productsit.
do—
Sales of 1. p. g. for fuel and chemicals
do
Transfer of cycle products
do—
Used at reflnerifst
_
do...
Retail distribution <?
..mil. of gal.
Stocks, gasoline, end of month:
Finished gasoline, total
thous. of bbLAt refineries
do
Unfinished gasoline
...do
Natural gasoline
.....do—
Kerosene:
Domestic demand§
do
Exports§
do—.
Price, wholesale, water white, 47°, refinery (Pennsylvania)
--dol. per galProduction
thous. of bbL.
Stocks, refinery, end of month
do.-.
Lubricants:
Domestic demand §
-do
Exports^
do—.
Price, wholesale, cylinder, refinery (Pennsylvania)
dol. per gal
Production
thous. of bbL.
Stocks, refinery, end of month
do—
Asphalt:
lmports§
...short tons..
Production
do
Stocks, refinery, end of month
do—
Wax:
Production
thous. of lb_.
Stocks, refinery, end of month
_do._Asphalt prepared roofing, shipments:!
Total..
.- thous. o* squares..
Smooth-surfaced roll roofing and cap sheet—do
Mineral-surfaced roll roofing and cap sheet__-do—
Shingles, all types
do—
66,873
24,761
34. 496
9,474
1, 782
76
6,425
2,118
.074
66,058
23.885
34,504
9,871
2, 115
87
5,317
2,006
62,126
23,234
31,067
10,122
2,217
80
5,037
2,047
55, 492
20,915
27, 388
9,251
1,973
89
4,448
1,937
61,899
24,385
29.910
9,563
1,866
93
4,619
2,309
61,160
23, 216
30,573
9,223
1,765
87
4,487
2,561
65,191
24,668
32,945
9,529
1,872
79
2,649
64, 345
25,260
31,445
9,501
1,752
109
4,940
2,619
78,091
47,585
8,449
4,325
56, 784
8,316
4,322
94,115
63,203
8,279
5,034
96,293
63, 999
8, 543
5,843
95,186
63,532
8,975
6,658
90, 444
58,605
8,300
6,982
85,801
53,893
8,159
7,004
83, 726
50, 911
8,245
7,343
79, 384
48, 077
8,394
7,334
78, 833
47, 347
7,912
6,943
78, 848
47, 021
8,173
7,060
77, 628
46, 244
8,324
6,312
7,613
505
9,830
423
9,608
370
8,006
5,995
655
5,339
976
7,502
312
.070
9,506
4,304
.070
9,852
4,981
.070
8,396
e,097
.070
8,376
9,063
.071
8,435
10, 490
4,321
767
.074
8,179
12, 382
5,284
705
.066
8,543
6,212
6,338
782
.070
8,887
7,912
5,185
1,566
.066
7,564
7,355
11, 176
586
.066
.074
7,825
13, 442
.074
8, 566
13,926
2, 532
571
.160
3,485
7,595
2,606
517
2,689
775
2,275
603
2,562
1,225
3,061
721
2,866
1,131
2,715
1,054
3,049
910
3,236
1,135
3,095
694
5,536
706
.160
3,312
7,773
.160
3,395
7,694
.160
3,159
7,966
.160
3,786
7,951
.160
3,693
7,852
.160
3.722
7,565
.160
3,839
7, 635
.160
3,620
7,293
.200
4,096
7,030
.214
4,016
7,244
.248
4,327
7,338
447
8,588
9,052 18,772 27, 811
592, 700 711,800 738, 200 851,800 871, 300 827,800
986, 200 1,023,100 907,600 819, 600 691, 800 626. 500
8,253
806,500
577,800
30, 040
376
9, 065
9,925
564, 400 491,100 459, 500 479, 300 540,500
558,400 692, 700 786,500 889, 600 948,400
66,640
83,160
5,315
1,719
1,167
2,429
4,347
1,147
1,299
1,901
63, 840
82,040
3,314
892
937
1,484
65,520
80,640
4,563
1,350
1,226
1,987
64,960
81. 480
4,060
1,229
1,073
1, 759
77,280
85,400
4,680
1, 526
1,102
2,052
68,040
80,920
5,151
1,696
1,224
2,231
67,760
77,280
5,168
1,746
l,07fi
2,346
65,520
81,760
5,045
1, 575
1,099
2,371
60,480
73,920
5,191
1,624
1,098
2,469
69,160
73, 360
68,600
83,160
74, 480
84,840
r
*r 5, 516
5, 264
1,837 ' 1, 633
r 1,128 ' 1,146
' 2, 550 r 2, 486
5,646
1,760
1,237
2, 649
RUBBER AND RUBBER PRODUCTS
BL'BBER
Natural rubber:
Consumption^
Imports, including latex and Guayule§
Stocks, end of months __
Synthetic rubber:*
Consumption
Exports
Production
Stocks, end of rronth
Reclaimed rubber:^
Consumption
_
Production
Stocks, end of month
7,575
12, 2J3
117,543
8,185
14,045
118,715
10,355
K,/Tr5
133,294
do
Co—
c!o
do
56,227
8, 024
4K f 34
214,289
5f,112
£,403
4', 593
20:,454
63, 770 74,214 70, 703
5, (75
6,430
17,726
12, 931
56,089
51,848 60, 363 C6,014
177,051 144,427 115,310 101,510
do
do
do—
20, 2f 3
20, ff'O
30, 541
IP, 590
2(, 632
28,155
22,031
24, 458
29,099
20, 702
23,187
30, 216
22,075
25,136
31,436
thousands..
do
do
do
.do
90
4,680
4,471
(36
2,515
4,825
4,286
318
3,077
96
5,973
5.547
576
3,338
111
5,801
5, 468
476
3,487
78
4,222
4,003
3,252
84
3,955
3,639
3,627
80
5, 2%
4,286
4, 048
96
4,874
4,386
4,418
long tons.
do
do
37,
218,
10,131
33,008
157,977
12,792
31,757
180,088
16,914
28,109
1*2,831
17,867 16,466 21,998 28, 405 31,123 ' 35, 421
9,545 21, 627 35, 371 41, 736 46, 887
6,262
170,763 176, 768 169, 490 185, 580 199, 591 200,799
70,914
13, 144
66,044
93,447
62, 899 54, 562 61,486 58, 798
5,367
3,166
2,188
2,603
63, 388 63,176 64, 300 63, 765
94,095 101, 007 103, 076 108,840
r
60, 729
487
62,086
110,913
22,396
23,930
31,732
22,162
25.322
33,554
21, 725
24, 882
35, 295
21,350
22, 619
35,603
24, 566
25, 798
35, 742
23,715
23,956
35,404
r
26, 706
26,322
34,261
206
686
62]
730
392
196
6,883
6, 989
1,105
3,304
245
7,061
7,032
1,259
3,377
235
6,036
6,134
925
3,309
248
5,985
6,247
1,529
2,890
264
7,054
6,825
1,684
3,006
155
7,233
6,943
1, 636
3,370
198
8,205
8,433
1,874
3,041
151
840
649
519
160
6,114
6,079
4,190
198
6,463
6.278
4,373
205
5,710
6,700
4,377
192
5,702
5,959
3,954
193
7,032
6,931
3,929
109
7,287
6,735
4,435
125
8,087
8,534
4,108
66,993
r
r
TIRES AND TUBES
Pneumatic casings:§
Exports
Production
Shipments
Original equipment
Stocks, end of month Inner tubes:§
Exports
Production
Shipments.
Stocks, end of month
.
-do
do_
do
do
STONE, CLAY, AND GLASS PRODUCTS
ABRASIVE PKODUCTS
Coated abrasive paper and cloth, shipments
reams.. 164,733
100, 311
97, 395
115,440
129, 204
143,919
161, 776
151,292
147, 807
140,813
161, 631
150, 726
166, 649
10,705
54
10.342
12, 763
4,022
9,772
48
6,112
16, 423
4,463
9,635
47
7.391
18. 653
5,304
9,250
50
7, 853
20,034
5,824
11. 305
55
12, 718
18,651
6,330
12,650
64
15.369
15,972
6,013
12,091
59
16,066
11,957
5,111
14, 489
73
14, 564
11,894
4,983
15, 420
75
16, 249
11, 064
4,788
16,213
79
17,955
9,308
4,580
16, 450
83
17,153
8,612
3,898
16,410
81
17, 721
r
7, 298
«• 3, 598
PORTLAND CEMENT
Production
Percent of capacity..
Shipments-.
Stocks, finished, end of month
Stocks, clinker, end of month
' Revised.
thous. of bbL
_
thous of bbL.
do. _
do
15, 335
78
14, 8C3
7, 830
3,501
d"See n o t e in April 1946 S u r v e y .
§Data continue series published in the 1942 Supplement but suspended during the war period; data for 1941-45 for tires and tubes are shown on p. 22 of the December 1946 issue
and for imports of natural rubber, on p. 23.
tlneludes natural gasoline, cycle products, and liquefied petroleum gases at natural gasoline plants, and benzol. Sales of liquefied petroleum gases for fuel and for chemicals
and transfers of cycle products, shown separately above, are deducted before combining the data with straight run and cracked gasoline to obtain total motor fuel production.
^Data are from the Civilian Production Administration and continue similar series from the Rubber Manufacturers Association published in the 1942 Supplement; the coverage
is complete. Data for 1941-45 are on p. 23 of the December 1946 issue.
*New series. Exports are from the Bureau of the Census; other series are compiled by the Civilian Production Administration and the coverage is complete. Data for 194345 for exports and 1941-45 for other series are shown on p. 23 of the December 1946 issue.
ISee note marked "f" on p. 8-36 regarding revisions in the indicated series for petroleum products. Data for asphalt roofing have been published on a revised basis beginning in
the April 1945 Survey; see note in that issue.
SURVEY OF CURRENT BUSINESS
S-38
1945
1946
Unless otherwise stated, statistics through 1941
and descriptive notes may be found in the Novem- Novem- Decem1942 Supplement to the Surrey
ber
ber
ber
January 1947
1946
January
February
March
April
May
June
July
August September
October
STONE, CLAY, AND GLASS PRODUCTS—Continued
CLAY PRODUCTS
Brick, unglazed:
Price, wholesale, common, composite, f. o. b. plant
dol. per thous. Production*
thous. of standard brick
Shipments*
do...
Stocks, end ef mouth*
d©._
Unglazed structural tile:*
Production
short tons
Shipments
do...
Stocks.
do...
Vitrified clay sewer pipe:*
Production
do...
Shipments
.do__.
Stocks
_
do...
19.010
17.051
263,441
258, 591
160,563
17.081
238,668
216,658
181,158
71, 471
74, 974
53, 844
62,046
61, 549
54,429
73,801
72, 585
119,196
17.328
17.213
17.196
271,639 279, 265 336,647
271, 601 271, 763 335,804
179,875 188, 343 188,346
17.399
368,587
361,128
196,460
17.646
356,343
340,033
211.290
17.932 18.074 18. 218 18.519
360, 998 486,177 503,451 473, 343
338, 154 452, 655 484, 627 442,975
229,119 269,036 290,064 310,814
67,059
70,102
46,434
84,506
82, 932
46,074
88,610
94,031
40,484
93, 758
92,923
41,345
95, 203 118, 789 126,803 116,845
91, 343 117, 603 124,229 115,474
47,497 56, 357 58, 637 ' 57, 664
71, 055 84, 021 54, 904
62, 329 78,084 50.174
128,470 137, 583 142,248
66,113
54, 267
145,937
64,400
67,941
142,146
90,385
95,641
135.291
91, 486 108, 621 108, 762 '99,000
97, 692 104, 792 109,166 106, 518
129, 706 134,429 134,043 125,491
70,114
75,298
49, 399
GLASS PRODUCTS
Glass containers*^
Production
thous. of gross.
Shipments, domestic, total
do
General use food:
Narrow neck, food
.__
do...
Wide mouth, food (incl. packers tumblers) do...
Beverage
do...
Beer bottles..
do._.
Liquor and wine
._
do...
Medicinal and toilet
_
do...
General purpose (chem., household> indus.)--do.__
Dairy products
do...
Fruit jars and jelly glasses
.do...
Stocks, end of month
do—
Other glassware, machine-made:
Turn biers ;t
Production
thous. of doz.
Shipments
--do—
Stocks
do__.
Table, kitchen, and householdware, shipments t
thous. of doz_.
Plate glass, polished, production
thous. of sq. ft..
9,610
9,332
8,978
8,668
8,603
7,968
0,890
9,644
8,985
8,847
9,872
9,614
9,555
9,425
9,235
8,991
8,680
9,426
9,001
774
2,979
517
573
1,372
2,099
658
318
73
3,905
692
2,707
505
624
1,126
Z006
742
312
52
3,857
561
2,533
467
564
1,087
1,773
648
302
34
4,331
679
3,041
415
801
1,161
2,355
752
353
89
4,392
615
2,775
399
801
1,1 f-2
2,052
667
317
67
4,294
725
2,904
524
791
1,156
2,229
772
342
171
4,287
773
2,905
566
546
1,159
2,143
717
347
268
4,140
824
2,844
~558
389
1,008
2,223
729
315
345
3,643
2,502
653
415
1,059
1,899
663
280
346
3,729
962
» 2, 553
595
374
1,146
1,975
676
284
»437
3,911
6,527
5,544
6,153
5,377
5,640
5,682
6,925
6,281
6,465
6,138
4,879
7,770
7,672
6,007
6,935
7,416
4,410
5,978
6,706
3,937
7,389
6,347
4,920
3,168
20,781
543
3,203
42V
5,753
5,516
4,882
4,402
4,355
3,681
13,849
4,153
19,292
4,100
18,515
4,513
18,863
3,847
16, 316
6,070
5, 984
4,997
3,553
18, 409
10,659
10,406
9,815
9,633
1,287
3,108
615
417
1,252
2,221
717
332
3 456
3,917
1,309
2,864
529
460
1,216
2,051
582
314
309
3,940
7,891
7,946
4,784
6,711
6,078
5,352
4,335
16,803
3,645
21,142
3
GYPSUM AND PRODUCTS
Crude gypsum:
Imports &
Production
>.
Calcined, production.
Gypsum products sold or used:
Uncalcined....,
Calcined:
For building uses:
Base-coat plasters
Keene's cement
All other building plasters
Lath
Tile
Wallboard©..
Industrial plasters
short tons..
do—
do—
233,069
1,087,495
701, 797
42,721
1,143,238
828,731
—...do—
340,697
358,643
204,791
4,596
69,614
206,823
fi,047
365,183
35,660
265,675
6,589
85,952
242,917
5,164
408,149
48,668
do..-.
do—
.....do—
thous. of sq. ft..
do....
do—
short tons..
300,815
1,306,845
946.851
571,871
1,522,455
172,746
394,436
331,237
655
91, 524
281,750
4,055
443, 327
52,320
422, 025
392
103,442
295, 620
4,508
557,537
49,941
TEXTILE PRODUCTS
CLOTHING
Hosiery:
Production
>__thous. of dozen pairs..
Shipments
do__._
Stocks, end of month
do
13, 339
13,627
17,108
11,443
10, 704
13, 551
9,137
14, 355
13,131
12, 751
14,678
12,235
11,938
14,919
12,976
12,613
15,225
13,067
12, 643
15,592
13,985
13,344
16,178
12,968
13,118
15, 971
11,968
11,008
16,932
13,438
12,086
18, 284
13,179
13,511
17,952
COTTON
Cotton (exclusive of linters):
Consumption
bales.. 877,461 743, 225 651,931 811,218 747, 748 804,290 812, 749 871, 470 792, 317 729,603 855, 511 818,449
297,020 215,219 293,166 250, 482 318,948 317, 633 456,671 409,926 366, 510 411, 570 242,177
Exported"..
do
9,823
19,199
25, 845
35,899
39,60©
42,852
15,862
40,984
27, 694
30,767
17,896
Importscf
do
.292
.230
.241
.228
.260
.236
Prices received by farmersf...
dol.
per
lb—
1
.225
.224
.227
.303
.353
.336
Prices, wholesale, middling, ^", average, 10 markets
.274
.292
.309
.245
.258
.277
dol. per lb-.
.239
.334
.247
.268
.369
.355
Production:
7,366
7,728
Ginnings§
thous. of running bales
162
7,383
8,027
18,813
532
2,334
Crop estimate, equivalent 600-lb. bales
thous. of bales - 2 8, 482
* 9,016
Stocks, domestic cotton in the United States, end of
month :t
10,546
9,332
6,161
10,450
9,906
7,534
6,340
5,320
8,547
4,414
Warehouses
thous. of bales.
3,785
4,280
2,139
2,312
2,295
2,3t6
2,311
2,179
2,019
2,238
2,319
2,179
1,983
Mills
_
do....
1,865
Cotton linters:
84
90
97
95
90
84
85
94
75
Consumption
_
do
87
'170
170
16
134
140
88
71
49
31
13
Production
do
26
72
408
475
389
451
482
443
Stocks, end of month
_
do
480
285
289
457
347
s
'Revised.
* Total winnings of 1945 crop.
December 1 estimate of 1946 crop.
» Packers tumblers included with fruit jars and jelly glasses for July and August 1946,
* Jelly glasses included with wide mouth food containers.
| Total ginnings to end of month indicated.
c? Data continue series published in the 1942 Supplement but suspended during the war period; data for October 1941-February 1945 will be published later.
© Includes laminated board reported as component board; this is a new product not produced prior to September 1942.
t For revised figures for cotton stocks for August 1941-March 1942, see p. S-24 of the May 1943 Survey. The total stocks of American cotton in the United States on July31,1946,
including stocks on farms and in transit, were 7,522,000 bales, and stocks of foreign cotton in the United States, 153,000 bales.
t Revised series. See note marked " t " on p. S-34 of the July 1944 Survey regarding changes in the data on glass containers and comparable figures for 1940-42; data for JanuaryOctober 1945 were compiled by the War Production Board; subsequent data are from the Bureau of the Census. Data for tumblers have been revised to include data for 8 companies
and for table, kitchen, and household ware to include 6 companies; comparable data beginning January 1944 will be shown later. The farm price of cotton has been revised for August
1937-July 1942; for revisions see note marked "f" on p. S-35 of the June 1944 Survey.
• New series. Data are compiled by the Bureau of the Census and cover all known manufacturers; data beginning September 1942 for brick are shown on p. 24 of the February
1945 issue; and for vitrified sewer pipe on p. 23 of the December 1946 issue; data beginning that month for other series will be published later.
January 1947
SURVEY OF CURRENT BUSINESS
1945
1946
Unless otherwise stated, statistics through 1941
and descriptive notes may he found in the Novem- Novem- Decem1942 Supplement to the Survey
ber
ber
ber
S-39
1946
January
February
March
April
May
June
July
August
Septem- October
ber
TEXTILE PRODUCTS—Continued
COTTON MANUFACTURERS
Cotton cloth:
Cotton broad woven goods over 12 inches in width,
production, quarterly*
.mil. of linear yards. ~
2,182
2,062
2,267
2,299
Cotton goods finished, quarterly:*
Production, total
_ __ do _ _
1,625
1,655
1,734
1,788
786
778
do_
840
878
Bleached
457
449
478
Plain dyed
do
466
do
320
416
390
443
Printed
71,472
Exports§
thnns. of an. vtfs
65,154
59,421
41,078
41,313
68,789
52, 756
60,474
73,107
59, 618
68,306
57, 503
2,814
4,840
2,459
6,934
2,920
4,205
3,551
3,581
' 2, 311
Imports§
7,100
5,176
do
3,131
Prices, wholesale:
30.86
40.78
21.16
20.61
23.09
23.73
27.40
cents per l b .
20.68
19.49
22.57
22.01
« 24.97
Mill margins
25.93
.223
.248
.323
.338
.223
.312
.338
.223
.223
.256
.256
.256
.280
Denims, 28-inch
....dol. per yd_.
.110
.140
.147
.099
.146
.099
.099
.114
.114
.134
.699
.114
.126
Print cloth, 64 x 66<?
__ do
.133
.172
.180
.120
.120
.138
.138
.120
.165
.120
.138
.138
.180
Sheeting, unbleached, 36-inch, 68x56©
do....
Spindle activity\%
21, 524
Active spindles
thousands
21,957
21,973
22,019
21,639
21,605
21, 552
21,629
21,958
21,985
21,754
21,943
21,630
9,499
8,672
9,103
8,002
7,733
9,558
9,449
9,037
10,143
9,489
8,497
9,133
8.787
Active spindle hours, total .__ ... _ . mil. of hr
382
397
364
325
424
399
383
368
335
379
401
396
357
Average per spindle In place
hours..
114.4
116.2
101.5
101.7
110.5
115.1
119.6
104.6
110.7
113.1
112.4
Operations
percent of capacity
109.7
95.3
Cotton yarn, wholesale prices:
Southern, 22/1, cones, carded, white, for knitting(mill)t
.504
.543
.699
.476
.543
.699
.470
.470
.525
.599
.643
.671
dol. per lb_.
.470
.804
.592
.672
.692
.627
.672
.672
Southern, 40s, single, carded (mill)
do
.819
.592
.646
.592
.834
.756
RAYON AND MANUFACTURES
Yarn and staple fibers:
Consumption:
'54.2
57.5
58.3
Yarn
_
mil. oflb
52.8
50.7
65.7
60.2
66.6
56.8
51.8
'59.4
51.9
57.3
do
16.8
14.1
14.8
14.5
15.9
14.0
13.0
13.3
14.8
15.6
15.1
' 15.7
Staple fiber
14.0
2,423
2,943
1,441
1,426
2,141
1,887
3,428
0
3,653
3,369
3,108
Imports§
thous. of lb_.
1,492
Prices, wholesale:
Yarn, viscose, 150 denier, first quality, minimum
.550
filament
dol. per lb_.
.550
.550
.550
.550
.550
.550
.550
.550
.550
.550
.550
.550
Staple fiber, viscose, 1^4 denier
.do
.250
.250
.250
.250
.250
.250
.250
.250
.250
.250
250
,250
.250
Stocks, producers', end of month:
Yarn
_ - mil. of 1b
9.2
7.3
'9.1
10.0
7.7
8.7
7.3
8.3
9.3
8.7
8.4
'9.7
10,0
3.9
1.9
2.2
3.1
2.1
1.8
2.6
2.6
2.3
Staple fiber
4.0
2.3
2.6
do
4.1
Rayon goods, production, quarterly:*
437,388
439,178
408,615
397,368
Broad woven goods
thous of linear yards
454.322
380,194
441,627
388, 783
Finished, total
do
51.659
42,498
43,541
55,148
White finished
do
292,862
269,134
259,718
299,498
Plain dyed
do....
76,935
103,165
93,617
77,151
.
.
.
d
o
Printed
WOOL
Consumption (scoured basis) A
50,424
49,604
38, 388
48,252
47,708
61,635
40, 332
50,750
53,995
49,788 ' 49,900
63,380
Apparel class
„ . . . thous. of l b .
10, 352
7,436
9,918
9,576
10,268
6,368
11,465
9,135
Carpet class .
_
13, 435
do
10,100
10,308 ' 10,260
do
91,793
85,556
45,988 106,619
73,601 103,311
60,365
89, 529
Imports§ _ _
.. _ _
70,226
78,567 '113,593 126,519
Prices, wholesale:
. 995
.995
.995
.995
.995
1.03
1.035
1.025
.995
Raw, territory, 64s, 70s, 80s, fine, scoured*..dol. per lb.. 1.106
1.190
1.037
.995
.465
.465
.465
.465
Raw, bright fleece, 56s. greasy*
*
do
.490
.545
.465
.465
.480
.465
.480
.485
.485
Australian, 64-70s, good top making, scoured, in bend
.789
.758
.755
.745
.755
.745
.745
.755
.747
.745
(Boston)f
_
._
dol. Derlb
.755
.745
.757
491,512
564,438
594,487
483, 019
Stocks, scoured basis, end of mo., totalf .__ thous. of lb
377,658
360, 224
420, 537
438, 905
Wool finer than 40s, total - do
221,188
do
211,826
253,214
282, 750
Domestic
148, E98
156,470
Foreign
167,323
156,155
do
do
113,854
122, 795
Wool 40s and below and carpet
143,901
155,582
WOOL MANUFACTURES
Machinery activity (weekly average):]
Looms:
Woolen and worsted:
2,183
2,582
2,486
2,640
' 2, 592
Broad
thous. of active hours..
2,586
2,276
2,159
2,480
2,608
2,685
72
68
84
86
86
ao
|
Carpet and rug: #
79
Broad
98
71
101
107
do
103
95
78
83
106
'
105
113
do
Narrow
67
79
86
94
59
'93
68
84
74
70
94
101
Spinning spindles:
do..
Woolen.
108.656 105, 388 109,462 120,378 122,334 119,955 119,134 123,986
98,191 123,886 '120,847 122,296
97,801 102, 327 112,677 115, 501 114,045 108,463 114,293
100,415
Worsted
do
89,145 110 807 '112,153 118,125
Worsted combs
-. _ _
do
186
226
214
188
224
229
197
220
217
223
220
177
Woolen and worsted woven goods (except woven felts):*
Production, quarterly, total .thous. of linear vards
124, 501
145,635
154.339
144, 591
Apparel fabrics
__ _ _ _
107,163
12S, 628
133,942
125 199
do
do.
44.566
Men's wear
53, 791
58,060
54,557
49, 687
56,144
Women's and children's wear
60,853
55,314
.do15 029
15,693
General use and other fabrics
13,010
15 328
do
do
11, 387
12,336
12,077
Blankets..
11, 834
6,951
Other nonapparel fabrics _ _ .
7,671
8,320
do
7,558
Wool yarn:T
Production, total*
64, 508
62, 240
94, 390
74,716
. . thous. of lb
82,775
77,300
77,948
75, 910
74,204
77,928 ' 75,432
96, 200
do
Knitting*
10.864
13, 764
11,700
14, 775
13,460
14,052
17,110
14,008
15, 890
16 645
13 704 ' 13,236
Weaving*
.do...
51,064
45,416
43,581
57,272
64, 650
52,832
60,656
52, 425
52,740
65,220
53,120 ' 51,620
do
Carpet and other*
_
_.
7,392
7,795
12,630
9,888
10,728
10,088
10, 608
11,108
7,595
14,335
11,104 ' 10, 576
Price, wholesale, worsted yarn, 2/32s (Boston)
1.900
1.900
dol. per lb_.
1.900
1.900
1.900
1.900
1.900
1.900
1.900
1.900
1.900
1.900
1.900
» Revised. * See note marked "d"". ^Data for January, April, July and October 1946 are for 5 weeks; other months, 4 weeks.
•Based on cloth prices for July 24,1946, from "The Textile Apparel Analysis" for first 3 weeks of the month and OPA ceilings for last week.
§Data continue series published in the 1942 Supplement but suspended during the war period; data for October 1941-February 1945 wil] be published later.
cf Data beginning October are for 64 x 60 cloth and continue the series for which prices through June 1943 were shown in the October 1943 Survey (this construction was discontinued during the war period); the price of 64 x 56 cloth was $0,096 for October 1945-February 1946 and $0,107 for March 1946.
©This series was substituted in the November 1943 Survey for the price of 56 x 60 sheeting, production of which was discontinued during the war period.
• D a t a through August 1945 exclude activity of carpet and rug looms operating on blankets and cotton fabrics.
fRevised series. For 1941 data for the yarn price series, see p. S-35 o^ the November 1942 issue. Wool stocks have been published on a revised basis beginning 1942 (see p. 8-35
of the May 1943 Survey); data include wool held by the Commodity Credit Corporation but exclude foreign wool held by the Defense Supplies Corporation.
•New series. For data beginning 1943 for production of cotton cloth and a brief description of the data, see p. S-35 of the August 1944 Survey; earlier data will be shown later.
For earlier data for cotton and rayon eoods finishing, see p 23 of the August 1946 issue. Rayon broad woven goods production and wool yarn production are from the Bureau of the
Census and represent virtually complete coverage; data beginning in 1943 will be shown later; the wool yarn figures are for 4- and 5-week periods. Data beginning 1939 for the price
of raw territory wool are shown on p. 24 of the February 1945 Survey. Data beginning 1936 for the price series for Australian wool, which is from the Department of Agriculture, will
be shown later; prices are before payment of duty. For available data for 1937-43 for woolen and worsted goods production, see p. 19 of the May 1945 Survey.
Digitized forJAugust
FRASER
1945 revisions: Active spindles, thousands, 22,144; active spindle hours, millions, 8,789; average hours per spindle in place, 369; operations, percent of capacity, 100.4.
**£
SURVEY OF CURRENT BUSINESS
S-40
1945
Unless otherwise stated, statistics through 1941
and descriptive notes may be found in the
1942 Supplement to the Survey
January 1947
1946
Novem-j December
ber
January
February
March
April
May
June
July
August Septem-
TEXTILE PRODUCTS—Continued
MISCELLANEOUS
Fur, sales by dealers
Pyroxylin-coated fabrics):J
Orders, unfilled, end of month
Pyroxylin spread
Shipments, billed
PRODIC1S
thous. of dol.
778
6 2C8
8,760
7,274
5,300
7,322
7,381
4,236
3,062
4,799
7,532
thous lin. y d .
tbous. of lb_
tbous. linear y d .
12. 0?8
6, 686
8, 485
11 909
6 036
6, 864
12, 786
6,754
8,210
13,137
6,129
7,401
13,035
6,301
7,506
13, 606
6,811
8,448
13,182
6,814
9,071
13,468
5,748
7,653
13,800
5,651
7,371
13, 589
6,972
r
8,552
13, 281
6,287
r
7,151
27, 017
8,321
18, 696
23,644
7,013
16, 631
23,694
10, 518
13,176
31,803
14,587
17,216
27, 401
12,477
14, 924
TRANSPORTATION EQUIPMENT
MOTOR VEHICLES
Exports, assembled, total 1
.-.
Passenger cars 5
„_
Trucks^.
Production:*
Passenger cars.
Trucks and truck tractors, totaL
Civilian, totaL
_
Heavy
Medium.
Light
Military
.numberdo...
do...
do...
do...
.do...
do...
_do.__
do._
do...
18, 999
6,312
12, 687
10.266
2,962
7.304
12,289
2, 350
13,285
4,001
9,284
" 62, 723
54,864
54, 791
6,278
23,956
24, 557
73
47,965
28, 692
28,594
4,4/0
9,880
14,244
90,045 150, 206 152, 948 142,313 220,321 241,302 239, 410
39, 359 81, 282 74, 650 58, 739 93,458 105,506 92,014
39, 348 81, 280 74, 650 58, 739 93,458 105,506 92, 014
5,802
4,823
4,066
3,317
2,433
6,020
6,111
16,990 44,047 37,427 18,608 49, 504 57, Q52 44, 519
19,925 31, 431 32,400 36,065 37,934 43,614 41,384
2
0
0
11
0
0
0
2,155
1,674
491
491
3,474
2,202
494
494
2,411
1,664
9
2,460
2,325
21
21
4,038
3,181
240
240
3,340
2,816
181
181
2,662
2,094
56
56
3,098
2,570
61
61
4,625
4,234
3,915
3,244
69
34
1,760
72
4.3
36, 426
30,911
5,515
1,757
71
4.2
36, 471
29, 002
7,469
1,757
74
4.4
37, 572
30,345
7,227
1,755
75
4.4
38, 650
29, 947
8,703
1,753
76
4.5
38,151
29,687
8,464
1,749
83
4.9
35, 954
28,184
7,770
1,749
78
4.7
36,058
28,683
7,375
1,748
80
4.7
41,417
34,609
6,808
1,748
74
4.4
42,714
35,367
7,347
1,746
73
4.3
53, 727
37, 213
16, 514
2,662
6,8
2,555
6.6
2,834
7.3
2,944
7.6
3,075
8.0
3,260
8.5
3,179
8.3
3,298
8.7
104
67
37
380
367
13
144
122
22
92
64
28
379
369
10
270
160
110
81
57
24
373
363
10
222
i56
66
85
57
28
378
368
10
163
125
38
82
57
25
412
402
10
216
172
44
3,145
8.2
74
52
22
416
406
10
262
172
90
63
43
20
522
512
10
258
99
159
86
70
16
529
515
14
286
208
78
76
60
16
528
517
14
227
174
53
3,217
8.5
69
55
14
487
473
14
236
140
3,195
8.5
65
53
12
490
490
0
114
66
48
195
191
4
159
156
146
142
4
148
148
0
154
148
6
219
211
266
262
4
273
260
13
258
247
11
265
245
20
229
220
7,956
430
7,526
8,604
824
7,780
260,803
100.552
100, 552
8,401
50,158
41,993
0
• 34,611
53,634
53,103
5,437
30, 754
16,912
531
• 30, 016
29,542
28,792
5,054
11,132
12,606
750
7,188
2,442
60
60
2,019
1,689
1,742
67
4.0
54,413
39,179
15, 234
1,765
69
4.1
35,172
29, 334
5, 838
3,204
8.5
65
57
8
499
RAILWAY EQUIPMENT
American Railway Car Institute:
Shipments:
Freight cars, total
_
number.
Domestic
do..
Passenger cars, total}..._
-__do~-.
Domestic!
do
Association of American Railroads:
Freight cars, end of month:
Number owned
thousands.
Undergoing or awaiting classified repairs...do . .
Percent of total on line
-.._
Orders, unfilled.
cars.
Equipment manufacturers
do.-.
Railroad shops . . . .
do...
Locomotives, end af month:
Steam, undergoing or awaiting classified repairs
numberPercent of total on line
Orders unfilled:
Steam locomotives, total
number.
Equipment manufacturers
...do...
Railroad shops
.do..Other locomotives, total*
do...
Equipment manufacturers*
do
Railroad shops*
do...
Exports of locomotives, total 1
.do....
c
Steam 1
__
do_._
Other 1
.do...
INDUSTRIAL ELECTRIC TRUCKS AND
TRACTORS
number.
.
>
do
do...
Shipments, total
D&mestic
Exports
186
CANADIAN STATISTICS
Physical volume of business, adjusted:
Combined indext
-- 1935-39=100
Industrial production, combined indeif
do
Constructiont
._
. . do . .
Electric power
__
do
Manufacturingf
do
Forestryt do
Miningf
.
- d o
Distribution, combined indexf
do..
Agricultural marketings, adjusted:t
Combined index. __
do
Grain
. do
Livestock.
_
_ ._ __
do .
Commodity prices:
Cost of living
._ . . . .
do
Wholesale prices
1926-=100..
Railways:
Carloadings . . . thous. of cars
Revenue freight carried 1 mile
mil. of tons..
Passengers carried 1 mile
mil. of passengers..
127.1
111.4
189.9
197.7
201.9
139.7
211.0
135 1
130.6
173.7
193.0
194.5
230.2
141.8
206.3
134.5
114.0
189.8
195.4
193.9
252.5
151.8
202.8
138.4
119.7
198.7
181.2
188.2
254.2
152. 9
197.9
150.7
98.1
166-7
191.4
199.0
441.1
155.6
190.7
146.9
143 5
175.9
192.8
197.9
426.3
164.1
189.9
144.0
142 0
182.3
184.3
189.6
302.6
166.5
186.9
143.2
155 8
173.4
178.9
179.4
204.0
164.5
181.4
128.0
158.7
178.0
180.3
181.1
237.0
168.2
181.2
143.2
155 3
178.6
178 1
175.5
178.6
164 3
180.6
149 0
158 9
183.4
173 3
172.5
186 9
155 2
179.0
150 9
147 7
175 0
179 0
184.2
284 3
155 3
185.5
156 5
146 1
168 1
117.1
105.6
166.9
100.0
82.5
176.1
163.7
168.9
140.9
68.8
52.5
139.2
66.0
54.3
117.0
124.6
129.9
101.4
160.5
177.7
86.0
97.1
92 9
115.4
146.6
148 4
138.7
129.9
129 6
131 0
97.2
96 5
68 5
106.8
103 2
122 5
119.9
103.9
120.1
103.9
119.9
104.6
119.9
105.2
120.1
105.6
120.8
108.2
122.0
108.6
123.6
109.1
125.1
109.5
125 6
109.2
125 5
109.1
126 8
110.8
322
5,298
425
272
4,803
465
283
4,644
424
263
4,215
392
302
4,981
412
282
4,156
367
296
3,983
335
291
4,055
420
304
4,048
484
325
4,406
501
324
5,142
373
371
' Revised.
X Data for October 194.">-January 1946, and April 1946, include converted troop kitchens and troop sleepers.
§ Data for several additional companies are included beginning July or August 1945; see note in the April 1946 Survey for July and August 1945 figures excluding tbes* companies and information regarding an earlier revision in the series; data relate to cotton fabrics prior to August 1945.
1 The export series, except data foi total locomotives and other locomotives, continue data formerly published in the Survey but suspended during the war period "other locomotives'* has been revised to Include internal combustion, carburetor type. Diesel-electric and Diesel in addition to electric locomotives and the total revised accordingly. The seriei
Include railway, mining and industrial locomotives. Data through February 194C for the revised series and for October 1941-February 1945 for other series will be published later.
•New sertee. See note in September 1945 Survey for a description of the series on production of trucks and tractors; data beginning 1936 will be published later. Data on passenger
car production are from the Civilian Production Administration and cover the entire industry; there was no production April 1942-June 1945. Data for unfilled orders of "cth«
locomotives" are for class I railroads and include electric. Diesel-electric, and Diesel; data beginning 1939 will be shown later.
fRevised series. The Canadian index of construction ha* been shown on a revised basis beginning in the August 1945 Survey, the mining index beginning xn me April 1944 issue,
and the other indicated indexes beginning in the December 1942 issue; see note in April 1946 Survey for the periods affected.
U. S. GOVERNMENT PRINTING OFFICE: 1947
INDEX TO MONTHLY BUSINESS STATISTICS, Pages S1-S40
Pages marked S
Abrasive paper and cloth (coated)
37
Acids
23
Advertising
6, 7
Agricultural income, marketings
1
Agricultural wages, loans
14,15
Air mail and air-line operaliens
7,23
Aircraft
2,10,11,12,13,14
Alcohol, denatured, ethyl, and methyl
23, 24
Alcoholic beverages
1,2,26,27
Aluminum
.
33
Animal fats, greases
24,25
Anthracite
2,4,11,12,13,14,36
Apparel, wearing... 4,6, 7,8,10,11,12,13,14,38,39
Armed forces
9
Asphalt
37
Automobiles
_._ 1, 2,3,6,7,10,11,12,13,14,17
Banking
15
Barley
27
Battery shipments
34
Bearing metal
33
Beef and veal...
_
29
Beverages, alcoholic
- - 1,2,26,27
Bituminous coal
2,4,11,12,13,14,36
Boilers
33
Bonds, issues, prices, sales, yields
18,19
Book publication
35
Brass
33
Brick
4,38
Brokers' loans
15,19
Building contracts awarded
5
Building costs
5,6
Building construction (see Construction)
Building materials, prices, retail trade
4,7,8,9
Businesses operating and business turn-over. _
3
Butter—
27
Can sdian statistics
16,17,40
Candy
29
Capital
flotations
18
For productive uses
18
Carloadings
_
_
22
Cattle and calves
28
Cellulose plastic products
26
Cement
1,2,4,37
Cereal and bakery products
4
Chain-store sales
8
Cheese__
_
27
Chemicals
1,2,3,4,10,11,13,14,17,23,24
Cigars and cigarettes
.
30
Civil-service employees
11
Clay products (see also Stone, clay, etc.)
1,2,38
Clothing
4,6,7,8,10,11,12,13,14,38
Coal
2,4,11,12,13,14,36
Coffee
___
29
Coke.
2,36
Commercial and industrial failures
3
Construction:
New construction, dollar value
5
Contracts awarded
5
Costs
6
Dwelling units started
5
Highway
_
5,11
Employment, wage rates, earnings, hours. 9,12,14
Consumer credit
«. 15,16
Consumer expenditures
7
Copper
33
Copra and coconut oil
25
Corn
_
28
Cost-of-living index
4
Cotton, raw, and manufactures
2
4,10,12,13,38,39
Cottonseed, cake and meal, oil
25
Cranes, electric overhead.
34
Crops.
1,25,27,28
Currency in circulation
.
17
Dairy products
1,2,3,4,27
Debits, bank
15
Debt, short-term, consumer
15,16
Debt, United States, Government
17
Department stores, sales, stocks, collections __
8, 9
Deposits, bank
15,17
Disputes, industrial.
12
Distilled spirits
24,26,27
Dividend payments and rates
1,19
Drug store sales
7,8
Dwelling units started
5
Earnings .weekly and hourly
14
Eggs and chickens
1,3,4,29
Electrical equipment
2,3,7,34
Electric power production, sales, revenues
26
Employment estimates
9,10
Employment indexes:
Factory, by industries
10,11
Nonmanufacturing industries
11
Employment, security operations
12
Emigration and immigration
23
Engineering construction
5
Exchange rates, foreign
16
Expenditures, United States Government
_
17
Explosives
24
Exports
_.„
20,21
Factory, employment, pay rolls, hours, wages.
9,
10,11,12,13,14
Failures, industrial and commercial
Fairchild's retail price index
Farm marketings and income
Farm wages
,
3
4
1
14
Pages marked S
Farm products, farm, and wholesale prices
3,4
Fats and oils
4,24,25
Federal Government,
finance
17,18
Federal Reserve banks, condition of
15
Federal Reserve reporting member b a n k s . . - ,
15
Fertilizers
4,24
Fire losses
.
6
Fish oils and
fish...
25,29
Flaxseed
25
Flooring
31
Flour, wheat
28
Food products
„
2,
3,4,7,10,11,12,13,14,17,27,28,29
Footwear
2,4,7,8,10,12,13,14,31
Foreclosures, real estate
6
Foreign trade, indexes, shipping weight, value
by regions, countries, economic classes and
commodity groups
._ 20,21
Foundry equipment
.
34
Freight cars (equipment)
.„;. 40
Freight carloadings, cars, indexes .
....
22
Freight«car surplus
22
Fruits and vegetables
2,3,4,27
Fuel equipment and heating apparatus
34
Fuels
2,4,36,37
Furnaces, electric, industrial
34
Furniture
1,4,10,11,12,13,32
Gas, customers, sales, revenues
.
26
Gas and fuel oils
36
Gasoline
^
...
37
Glass and glassware (see also Stone, clay, etc*)38
Gelatin
24
Gloves and mittens
.
.
30
Glycerine
24
Gold
_
16,17
Goods in warehouses.....
7
Grains
3,27,28
Gypsum
38
Heating and ventilating equipment.
.
34
Hides and skins
4,30
Highways
5,11
Hogs..
29
Home-loan banks, loans outstanding..
.
6
Home mortgages
. ...
6
Hosiery
4,38
Hotels
11,13,23
Hours per week
11,12
Housefurnishings
4,6,7,8
Housing
.
4,5
Immigration and emigration
.
23,
Imports
20,21
Income payments
1
Income-tax receipts
..
17
Incorporations, business, new
.
_
3
Industrial production indexes
1,2
Instalment loans
._
16
Instalment sales, department stores
..
8,9
Insurance, life
.
16
Interest and money rates
15
Inventories, manufacturers' and trade...
3,8
Iron and steel, crude, manufactures. _.
2,
3,4,10,11,12,13,17,32,33
Kerosene
37
Labor force
.
.
9
Labor disputes, turn-over
12
Lamb and mutton
29
Lard
29
Lead
_
33
Leather
1,2,4,10,11,12,13,30,31
Linseed oil, cake, and meal
25
Livestock
1,3,28,29
Loans, real estate, agricultural, bank, brokers'
(see also Consumer credit)
..
.
6,15,17
Locomotives
.
40
Looms, woolen, activity
.
39
Lubricants
37
Lumber
1,2,4,10,11,12,13,31,32
Machine activity, cotton, wool
39
Machine tools.
10,11,12,13,34
Machinery
1,2,3,10,11,12,13,17,34
Magazine advertising
.
.
7
Mail order houses, sales
.
8,9
Manufacturers' orders, shipments, inventories. 2,3
Manufacturing production indexes....
1,2
Meats and meatpacking.. 1,2,3,4,10,12,13,14,29
Metals
1,2,3,4,10,11,12,13,17,32,33
Methanol
_
24
Milk
27
Minerals
2,10,11,12,14
Money supply
17
Mortgage loans
- - _ _ . 6,15
Motor fuel.
:
36,37
Motor vehicles..,
.
*.— 7,40
Motors, electrical
...
34
Munitions production.,.
2
Newspaper advertising
. . . . . . — 6,7
Newsprint
.
35
New York Stock Exchange.
19,20
Oats
28
Oil burners
„
...
34
Oils and fats
4,24,25
Oleomargarine
...
..
25
Operating businesses and business turn-over .
3
Orders, new, manufacturers'
.
...
2
Paint and paint materials
. . . 4,26
Paper and pulp
2,3,4,10,11,12,13,14,35
Pages marked S
Paper products
,.._,.
.. ....
33
Passports issued
23
Pay rolls, manufacturing and nonmanufacturing industries
12,13
Petroleum and products
„
.
2,
3,4,10,11,12,13,14,17,36,37
Pig iron
*
.
32
Plywood
32
Porcelain enameled product!
.
33>
Pork
_
29
Postal business
.
7
Postal savings
15
Poultry and eggs
. » 1,3,29
Prices (see also individual commodities):
Retail indexes
.
.......
4
Wholesale indexes
....
4
Printing
2,10,11,12,13,14,35
Profits, corporation
,
17
Public assistance
*
.
14
Public utilities
4,5,11,12,13,14,17,18,19,20
Pullman Company
„
.
«,
23
Pulpwood
„.
.
.
34
Pumps
..
34
Purchasing power of the dollar
.
5
Pyroxylin coated fabrics
...._.
40
Radio advertising
. 6,7
Railways, operations, equipment,financialstatistics, employment, wages...
. . 11,
12,13,14,17,18,19,20,22,23,40
Railways, street (see Street railways, etc.).
Rayon, and rayon manufactures. 2,4,10,12,13,14,39
Receipts, United States Government.
....
17
Reconstruction Finance Corporation, loans...
18
Rents (housing), index
....,
4
Retail trade, all retail stores, chain stores,
department stores, mail order, rural sates,
general merchandise
.
. . . 7,8,9
Rice.
28
Roofing, asphalt . .
. . . . . . . . 37
Rosin and turpentine
......
. ....
24
Rubber, natural, synthetic and reclaimed,
tires, and tubes
37
Rubber industry, production index, employment, pay rolls, hours, earnings
....
2,
3,4,10,11,13,14
15
Savings deposits
Sewer pipe, d a y . .
lambs..
Sheep and1 iambs...
.
29
Shipbuilding
2,10,11,12,13,14
Shipments, manufacturers'
.
2
Shoes
1,4,7,8,10,12,13,14,31
Shortenings..
25
Silver
17
Skins
.
...
....
30
Slaughtering and meat packing. . 2,10,12,13,14,29
Soybeans, and soybean oil
. . . . . . • 25
Spindle activity, cotton, wool
39
Steel ingots and steel manufactures (see also
Iron and steel)
—
32,33
Steel, scrap
,_.
32
Stocks, department stores (see also Manufacturers' inventories).
...
9
Stocks, issues, prices, sales, yields
.
19,20
Stokers, mechanical..
.
. .
34
Stone, day, and glass products
.
1,
2,10,11,12,13,14,37,38
Street railways and busses
- 11,12,14
Sugar
29,30
Sulphur
.
... .
24
Sulfuric acid
.23
Superphosphate..
..
24
Telephone, telegraph, cable, and radio-telegraph carriers
11,12,14,17,23
Textiles
2,3,4,10,11,12,13,14,38,39
Tile
.
38
Tin
33
Tires and inner tubes.
37
Tobacco
2,11,12,13,14,30
Tools, machine
10,11,12,13,14,34
Trade, retail and wholesale
7,8,9,11,13,14
Transit lines, local
22
Transportation, commodity and passenger.... 22,23
Transportation equipment....
.. . ...
1,
2,3,9,10,11,12,13,14,17,40
Travel
.
. . 22,23
Trucks and tractors.
.
...
40
Turpentine and rosin
>
. . . . . 24
Unemployment..
—— —
——
9
United States Government bonds
. 17,18,19
United States Government,
finance..
17,18
Utilities4,5,9,12,13,14,17,18,19,20
Variety stores.
.
8
m»m
Vegetable oils
.
25
Vegetables and fruits
2,3,4,27
Veterans' unemployment allowances.........
12
Wages, factory and miscellaneous.*
. . . . 13,14
War program, production and expenditures... 2,17
War Savings Bonds
..
.
.
17
Warehouses, space occupied....
..
7
Water transportation, employment, pay rolls. . 11,13
Wheat and wheat
flour..
.......
28
Wholesale price indexes..
....
......
4
Wholesale trade
.
. . . . -.-_-....—••
9
Wood pulp
4,34,35
Wool and wool manufactures,.. 2,4,10,12,13,14,39
33
Zinc.
Department of Commerce
Field Service
Albany 7, N. Y., 409 County Court House.
Albuquerque, N. Mex., 203 W. Gold Are.
Atlanta, Ga., 50 Whitehall St.
Baltimore 2, Md., 103 S. Gay St.
Birmingham, Ala., 2304 Fourth Ave., N.
Bohe, Idaho, 210 Baird Bldg.
Boston 9, Maas., 1800 Customhouse.
Buffalo 3, N. Y., 242 Federal Bldg.
Burlington, Vt., Rutland Railroad Station.
Butte, Mont., 301A O'Rourke Estate Bldg.
Charleston 3, S. C, 310 Peoples Bldg.
Charleston 1, W. Va., 612 Atlas Bldg.
Charlotte 2, N. C , 112% E. Fourth St.
Chattanooga 2, Tenn., 505 Post Office Bldg.
Cheyenne, Wyo., Federal Recreation Bldg.
Chicago 4, HI., 357 U. S. Court House.
Cincinnati 2, Ohio, 1204 Chamber of Commerce
Bldg.
Clereland 14, Ohio, 1286 Union Commerce
Bldg.
Columbus 1, Ohio, 1037 N. High St.
Dallas 2, Tex., 602 Santa Fe Bldg.
Denver 2, Colo., 203 Boston Bldg.
Des Moines 9, Iowa, 518 Grand Ave.
Detroit 26, Mich., 1028 New Federal Bldg.
Duluth 5, Minn., 310 Christie Bldg.
El Paso 7, Tex., 12 Chamber of Commerce Bldg.
Erie, Pa., 312 Security Peoples Trust Co.
Evansville, Ind., 112 Northwest Fourth St.
Fargo, N. Dak., 210 Walker Bldg.
Fremont, Nebr., Pathfinder Hotel.
Grand Rapids 2, Mich., 736 Keeler Bldg.
Hartford 6, Conn., 436 Capitol Ave.
Houston 14, Tex., 603 Federal Office Bldg.
Indianapolis 4, Ind., Chamber of Commerce
Bldg.
Jackson 5, Miss., 1130 W. Capitol St.
Jacksonville 1, Fla., 425 Federal Bldg.
Kansas City 6, Mo., 600 Interstate Bldg.
Little Rock 5, Ark., 312 Pyramid Bldg.
Los Angeles 12, Calif., 1540 U. S. Post Office
and Court House.
Louisville 1, Ky., 631 Federal Bldg.
Manchester, N. H., 814 Elm St.
Memphis 3, Tenn., 229 Federal Bldg.
Miami, Fla., 947 Seybold Bldg.
Milwaukee, Wis., 332 W. Wisconsin Ave.
Minneapolis 1, Minn., 1234 Metropolitan Life
Bldg.
Mobile 5, Ala., City Hall Annex.
Nashville, Tenn., Federal Court House.
New Haven 10, Conn., 152 Temple St.
New Orleans 12, La., 333 St. Charles Ave.
New York 1, N. Y., Empire State Bldg., 60th
Floor.
Norfolk 10, Va., 712 Wainwright Bldg.
Oklahoma City 2, Okla., 901-905 Petroleum
Bldg.
Omaha 2, Nebr., 913 City National Bank Bldg.
Peoria, 111., 531 First National Bank Bldg.
Philadelphia 3, Pa., 1612 Market St.
Phoenix 8, Ariz., 234 N. Central St.
Pittsburgh 19, Pa., 1013 New Federal Bldg.
Portland 3, Maine, 76 Pearl St.
Portland 4, Oreg., 520 SW. Morrison St.
Providence 3, R. I., 24 Weybossett St.
Reno, Nev., 50 Sierra St.
Richmond 19, Va., 801 E. Broad St.
Rochester, N. Y., 16 State St.
St. Louis 1, Mo., 107 New Federal Bldg.
Salt Lake City 1, Utah, 321 Atlas Bldg.
San Antonio 5, Tex., 101 Transit Tower Bldg.
San EKego 1, Calif., 906 Columbia St.
San Francisco 11 9 Calif., 307 Customhouse.
Savannah, Ga.9 U. S. Courthouse and Post OfHce
Bldg.
Scrauton, Pa., Wyoming Ave. and Spruce St.
Seattle 4, Wash., 809 Federal Office Bldg.
Sioux Falls 6, S. Dak., 310 Policyholders National Bldg.
Spokane 89 Wash., 1023 W. Riverside Ave.
Syracuse 2, N. Y., 224 Harrison St.
Texarkana 5, Tex., 817 Texarkana National
Bank Bldg.
Toledo, Ohio, 445 Huron St.
Wichita 2, Kans., 205 K. F. H. Bldg.
Worcester 8, Mass., 340 Main St.
U. S. GOVERNMENT PRINTING OFFICE: 1 9 4 7
@FedFRASER