Full text of Survey of Current Business : January 1950
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JANUARY 1950
U. S. DEPARTMENT OF COMMERCE
OFFICE OF BUSINESS ECONOMICS
DEPARTMENT OF COMMERCE
FIELD SERVICE
SURVEY
OF CURRENT
BUSINESS
No. 1
JANUARY
1950
%^ontents
PAGE
THE BUSINESS SITUATION
Third Quarter Corporate Profits
Farm Income and Price Support
•
•
1
3
6
Albuquerque, N. Mex.
203 W. Gold Ave.
Memphis 3, Tenn.
229 Federal BIdg.
Atlanta 1, Ga.
50 Whitehall St. SW.
Miami 32, Fla.
36 NE. First St.
Baltimore 2, Md.
103 S. Gay St,
Milwaukee 1, Wie.
517 E. Wisconsin Ave.
Boston 9, Mass.
2 India St.
Minneapolis 1, Minn.
2d Ave. S. at 4th St.
Buffalo 3, N. Y.
117 Ellicott St.
Mobile, Ala.
109-13 St. Joseph St.
Baste, Mont.
14 W. Granite St.
New Orleans 12, La.
333 St. Charles Ave,
Charleston 3, S. C.
18 Broad St.
New York 4, N. Y.
42 Broadway
Cheyenne, Wyo.
304 Federal Office BIdg.
Oklahoma City 2, Okla.
102 NW. Third Si.
Chicago 4, 111,
332 S. Michigan Are.
Cincinnati 2, Ohio
105 W. Fourth St.
•
SPECIAL ARTICLES
I n c o m e of D e n t i s t s , 1929-48
Income Sensitivity of C o n s u m p t i o n Expenditures . . .
Cleveland 14, Ohio
925 Euclid Ava.
8
17
Dallas 2, Tex.
1114 Commerce St.
Denver 2, Colo.
823 Seventeenth St.
M O N T H L Y BUSINESS STATISTICS
Statistical Index
. . . . S - l t o S-40
Inside Back Cover
Detroit 26, Mich.
230 W. Fort St.
El Paso 7, Tex.
310 San Francisco St.
Hartford 1, Conn.
135 High St.
Published by the Department of Commerce, C H A R L E S S A W Y E R ,
Secretary. Office of Business Economics, M . J O S E P H M E E H A N ,
Director. Subscription price, including weekly statistical supplement, $3 a
year; Foreign $4. Single copy 25 cents. Send remittances to any Department of Commerce Field Office or to the Superintendent of Documents,
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Treasurer of the United States.
Contents are not copyrighted and may be freely reprinted.
Omaha 2, Nebr.
1319 Farnam St.
PMhulelphia 2, Pa.
42 S. Fifteenth St.
Phoenix 8, Ariz.
234 N. Central Ave.
Pittsburgh 19, Pa.
700 Grant St,
Portland 4, Oreg.
520 SW. Morrison St.
Providence 3, R. I.
24 Weybosaett St.
Reno, Nev.
118 W. Second St.
Richmond 19, Va.
801 E. Broad St,
Houston 14, Tex.
602 Federal Office BIdg.
St, Louis 1, Mo.
1114 Market St.
Jacksonville 1, Fla.
311 W. Monroe St.
Salt Lake City 1, Utah
350 S. Main St.
Kaosaa City 6, Mo.
911 Walnut St.
San
Francisco 11, Calif.
555 Battery St,
Log Angeles 12, Calif.
312 North Spring St.
Savannah, Ga.
125-29 Bull Si.
Louiavilte 2, &y.
631 Federal BIdg,
Seattle 4, Wash.
909 First Av
For local telephone listing, consult section
devoted to U. S. Government
JANUARY 1950
Consumer credit advanced to a new a l l - l i m e peak
in November
BILLIONS OF DOLLARS
THE
12
gsy
SITUATION
-
10
reflecting rising installment
8
By the Office of Business Economics
credit.
INSTALLMENT CREDIT
6
OTHER
4
2
V
*"* *"*
0
1
1 i
1 1 1
1 I 1
1 1I u
while noninstallment
0
i/
( I 1I 1II ! 1 itltffet
credit
fri
s h o w e d l i t t l e change.
NONINSTALLMENT CREDIT
8
6
^y5 ^ TO MOBIL E
*sv
^
-_ y
„—^
i
4
. i i i 1 i . . . i
I
1 » ! I 1 1 , .
1948
1947
. « 1
1949
The ratio of consumer credit to disposable
income is higher than in 1948, but lower
than in 1 9 3 9 - 4 1 .
PERCENT
16
RATIO OF CONSUMER CREDIT TO D I S P O S A B L E
PERSONAL INCOME
Industrial production
12
8
\
4 -
" • ^
_
—•
© ESTIMATE
0
1 1 1 1 I 1 ! !1 !1
1939 40 41
1 1 t t 1 t \
, 1 r , , 1i t .
42 43
44 45
1 Ml
1 t t i ! ! I 1 1 ! 1
46
47 48 49
1/ INCLUDES SALE CREDIT AND DIRECT LOANS FROM COMMERCIAL BANKS
FOR AUTOMOBILES.
SOURCES OF DATA : BOARD OF GOVERNORS OF THE FEDERAL RESERVE
SYSTEM AND U . S . DEPARTMENT OF COMMERCE, OFFICE 'OF BUSINESS
ECONOMICS.
U.S. DEPARTMENT OF COMMERCE, OFFICE OF BUSINESS ECONOMICS
37406—50-
O PARKED by good Christmas trade and better than
usual seasonal volume of construction put in place, economic
activity advanced moderately in December. Contributing
to the strength in consumer demand was the continued high
and stable level of personal income which was extended
through the fourth quarter. Department store sales in
December registered a substantial gain from November
after adjustment for the usual seasonal increase. Residential
construction starts, after allowing for the customary winter
slow-down, represented an advance of about 8 percent.
This segment has been an important factor of strength in
the economy, and the spurt since the middle of the year
has pushed the total number of housing starts in 1949 to a
record high in excess of a million units.
Despite the substantial gains made in important segments
of the economy since mid-summer, total activity at the
year end was not up to the peaks reached in the latter pan
of 1948. Moreover, personal income remained at the
slightly reduced level which has prevailed throughout the
year, although real income was essentially unchanged.
An important depressing factor was the persistent decline,
particularly during the last half of the year, in business outlays for plant and equipment—a trend which businessmen
reported would be extended at least into the early part of
1950. The volume of employment in December was a little
below that of a year ago. The economy did not absorb the
additions to the labor force during the year, and the number of unemployed in December was 3% million as against
2 million a year ago.
49-409
advances
A sharp rise in steel production in December more than
offset the decline in automobile production which resulted
from the model change-overs, so that total industrial output
increased substantially over November.
The December gain represented a resumption of the upward trend which began in mid-summer but was interrupted
in October and November b}T work stoppages. Increases
during the month also occurred in the output of most metal
fabricating plants using steel as a major raw material.
Major shut-downs for model change-overs in the automobile
industry reduced output to less than 50,000 cars in the
second week of December, a drop of more than one-half the
November rate. By the end of the month, however, weekly
assemblies again topped the 100,000 mark, with planned
production schedules pointing to a further increase.
SURVEY OF CURKEXT BUSINESS
January
Rapid rise in steel
Demand at retail steady
The rapid recovery in steel output following the settlement
of the work stoppage is clearly illustrated in chart 2. Production of steel ingots and castings—which had dropped to a
daily average rate of 30,000 tons during the strike period—
was back to 231,000 tons by the end of November, and then
advanced further to an average close to 250,000 tons in
December. This not only represented an increase of more
The most important area of stability throughout 1949 was
in the consumer sector of the economy. In November business volume at most retail stores advanced more than seasonally, but because of the model change-overs already referred to, sales of motor cars declined, leaving the total volume
of trade about the same as in October. Paced by homefurnishings sales, which by November had advanced about
12 percent from the trough in April, purchases of nonautomotive durable goods continued to recover from the
reduced levels of last spring and summer.
Retail trade at most nondurable-goods stores also edged
upward in November, particularly in the food, apparel, and
general merchandise lines. The improvement in sales
volume was extended in December at department stores,
with a 6 percent advance marking the sharpest gain for any
month in 1949.
Chart 2.—Production and Capacity lof Steel Ingots and
Steel for Castings
THOUSANDS OF SHORT TONS
300
II
250
CAPACITY, JAN. I, EACH YEAR
i>—^—
Consumer credit rising
200
150
100
50
!940
1946
1947
1948
DAILY AVERAGES
U. S. DEPARTMENT OF COMMERCE, OFFICE OF BUSINESS ECONOMICS
3
Daily averages were computed without making allowance for holidays. Daily average
capacity for January 1, 1950, was estimated by the U. S. Department of Commerce, Olliceof
Business Economics, on the basis of information obtained from trade reports.
Source: Basic data, American Iron and Steel Institute.
than 8 percent over the prestrike volume, but was also the
highest monthly operating rate since May.
Despite the gain from the midsummer low, industrial
production in general at the end of the year was still below
its peak in the autumn of 1948.
Lower coal production
Of particular significance for the volume of output in general was the situation in the bituminous coal industry. Output of bituminous coal under the shorter workweek in effect
in December totaled 35 million tons compared with 44 million
tons in November, when the industry operated under the
standard workweek for a large part of the month. Despite
this sizable reduction, output in December was only moderately below current over-all consumer requirements. Coal
consumption has been declining steadily as compared with
last year, owing in part to the lower level of industrial activity and in part to the continued shift from coal to petroleum and natural gas.
Nevertheless, there was a substantial decline in the stocks
of coal on hand in consuming industries. Stocks declined
from 74.2 million tons on JmV 1, 1949, the effective date of
the shorter workweek, to 45.3 million tons on December 1,
1949. This was equivalent to 39 days' supply at the average
rate of consumption in November and compares
with 68
days' supply on July 1, 1949, and 47 da\rs; supply on the
same date a year ago. Railroads, which were in the most
unfavorable position in this respect, reported only 24 days'
working supplies on hand, a factor which led to some curtailment in train service.
A progressively larger proportion of retail trade during
1949 was financed by credit rather than from the current
income or the accumulated savings of consumers. Although
the ratio of consumer credit to disposable income in 1949
was substantially above that in any other postwar year, it
was still somewhat below the peak of over 11 percent in
1940, as shown in the chart on page 1.
The volume of consumer credit outstanding reached a
peak of $17.8 billion at the end of November, more than $2
billion above the same month in 1948. This increase resulted
entirely from a one-fourth advance in the volume of installment credit in the 12 months ending in November, and
reflected expanded use of credit to finance the purchase of
automobiles throughout the past year—and, more recently,
of other durable goods, as depicted in the chart on the first
page. Noninstallment credit—including charge accounts,
service credit, and single-payment loans—tended down
slightly in 1949, although the usual seasonal rise is expected
to be registered in charge accounts for the last month of the
year.
Earlier in the year, in the first quarter of 1949, total installment credit outstanding had declined almost $200 million as
purchases of nonautomotive durable goods were reduced,
though automobile installment credit remained stead}7. Federal Reserve surveys indicate that during this period the terms
of credit were generally more stringent than those required
under Consumer Credit regulations then prevailing. Then,
following successive relaxations of permissible terms and the
decline in retail sales at the beginning of the year, substantial easing of actual terms developed. Since the termination of Regulation W at the end of June, the most favorable
down-payment and maturity terms have been materially
more lenient than the permissible terms existing prior to the
lapse of consumer credit regulations.
Nonautomotive durables
stimulated
The upturn in installment credit during the late spring
and summer reflected in large part the greater availability
of automobiles, a major proportion of which are sold on the
installment plan. The recovery of nonautomotive durablegoods sales beginning in August (partly due to loosened credit
terms) augmented the total volume of goods sold on credit
and quickened the rate of expansion in total installment
debt.
The expanded role of installment credit is typified by the
experience of furniture stores. Prior to June, installment
credit sales volume in 1949 at these stores had been about
SURVEY OF CURRENT BUSINESS
January 1950
one-tenth below similar months in 1948. More recently, in
October and November, credit sales of such stores averaged
17 percent above the same months in 1949, while cash sales
were 18 percent lower. At department stores, where installment credit sales are small relative to total sales, the proportion of installment transactions has risen from 7 percent
in the first half of 1949 to almost 10 percent in the second
half of the year, slightly higher than in 1941.
Effects of rising consumer credit
The expansion of credit during 1949 had the effect of supporting the volume of retail trade during a period in which
personal incomes were moderately declining. At the same
time, of course, a portion of future consumer income has been
earmarked for the servicing and repayment of these debts.
To a small extent the expansion of credit has also had the
effect of increasing the unit costs of retailers. The proportion of receivables to sales volumes has generally increased
and credit has been extended, on the average, for longer
periods of time. This is reflected in the diminished ratio of
collections on installment accounts to receivables, which in
furniture stores declined from 14 percent in November 1948
to 11 percent in November 1949, in household appliance
stores from 15 to 12 percent, and in department stores from
23 to 20 percent.
Third Quarter Corporate Profits
Jt1 OLLOWING three successive quarterly declines, corporate profits turned upward in the third quarter of 1949,
according to preliminary estimates of the Office of Business
Economics. Third-quarter corporate profits, before taxes,
amounted to $7.3 billion, 10 percent above the $6.6 billion
earned in the preceding quarter. Although nearly as large
as in the initial quarter of the year, corporate earnings were
one-fifth below those recorded for the third quarter of 1948.
Adjustment of the estimates for seasonal variations has
only slight effect on the third-quarter movement of total
corporate profits. On a seasonally adjusted basis also,
profits rose about one-tenth.
Improved margins were the main factor in the thirdquarter recovery of corporate profits. Aggregate sales of
the corporate business system showed little change in terms
of quarterly totals, although in such major sectors as manufacturing and trade some improvement towards the close
of the quarter is evidenced by monthly data.
A significant part of the improvement in profit margins
stemmed from the prevailing methods used by corporations
in accounting for inventories as an element of cost of goods
sold. The predominant corporate practice is to charge inventories to cost of sales in terms of prior-period prices,
rather than current replacement prices. This practice has
the effect of including in the reported "book" profit figures
an inventory profit or loss—the difference between the
"book" (prior-period) cost of inventories used up in production and their current replacement value. Inventory
losses were smaller in the third quarter than in the second,
reflecting the lesser decline of inventory cost-prices in the
later period. Hence, lower inventory losses were reflected
as increases in book profits and profit margins.
Reduced inventory losses apparently do not fully account
for the third-quarter rise in corporate profit margins. Other
factors appear to have contributed also. Information for
their quantitative analysis is not available. However, it is
evident that for the large manufacturing sector the sizable
increase of the over-all profit margin was pervasive among
^industries and asset-size groups.
Industrial pattern of third-quarter increase
The third-quarter rise of corporate profits was centered in
manufacturing and trade. Other major changes occurred
in mining and construction. In mining, profits were reduced
sharply, mainly because of curtailed output due to the
reduced workweek and work stoppages in coal mining. An
upturn in volume of activity was reflected in markedly
higher earnings in the contract construction industry.
Profits in corporate manufacturing were 14 percent larger
in the third quarter than in the second. Three-fifths of the
total dollar increase in manufacturing profits occurred in the
automobile and chemicals groups, which accounted for less
than one-fourth of manufacturing profits in the second
quarter. In both these industries the expansion of total
profits reflected mainly higher margins. In the case of
automobiles, sales also advanced appreciably, as the industry's output during the quarter attained a record high.
Despite the disproportionately large share of automobiles
and chemicals in the third-quarter increase of manufacturing
profits, there was fairly widespread improvement throughout the industry. Fifteen of the twenty major manufacturing groups realized increased earnings, as contrasted with
five groups in the second quarter and only two in the first.
Mention may be made of the further substantial rise in
the third quarter of profits in the food industry, which,
together with automobiles, had furnished the major exception to the general pattern of decline in the previous quarter.
Another noteworthy development was the large rise of profits
in the textiles and apparel groups, which in earlier quarters
had sustained sharp cuts in earnings.
Three-quarters' comparisons
Comparison of the estimates for the first three quarters of
1948 and 1949 provides a preliminary, but fairly comprehensive, basis for discussing changes in corporate profits for
the 2 years as a whole.
Corporate profits before tax amounted to $21.4 billion in
the first 9 months of last year, a decrease of one-fifth from
the total of $26.3 billion for the same months of 1948.
Since total corporate sales were reduced only moderately
over the period, the sharp decline of profits is accounted for
very largely by a fall in profit margins.
This fall, in turn, is traceable for the corporate sector as
a whole to the feature of inventory accounting to which reference has already been made. Profit margins were inflated by sizable inventory profits in 1948, when prices of
inventory goods were rising, and depressed by sizable inventory losses in 1949, when the course of prices was downward. The ratio of corporate profits exclusive of inventory
profits and losses to corporate sales was higher in 1949 than
in 1948. This means that the ratio of corporate sales prices
to costs calculated on a replacement basis increased in the
corporate sector as a whole, although there was wide variation among individual industries.
Of the five broad industry groups for which data are shown
in table 1, in all except communications and public utilities
profits were substantially reduced over the 1948 to 1949
periods. The 15 percent rise in profits before taxes recorded
for communications and public utilities reflects continued
strong and expanding demand and a further small increase
in rates. Owing to public regulation, the rates charged for
the services of these industries rose only moderately during
SURVEY OF CURRENT BUSINESS
the postwar period of inflation and their profit increase was
small, in contrast to the sharp uptrend in most other industries.
Mining sustained the sharpest profit decline (about onethird) of any of the five industry groups. In coal mining,
where output was curtailed by work stoppages and a shorter
workweek, corporate earnings were affected adversely by
both a substantial reduction in sales and by the comparative
sluggishness of operating costs. In the crude petroleum
production industry, sales declined as a result of lessened
export demand, but the sharpness of the contraction in
profits was due chiefly to a worsening of cost-price relationships for the industry.
Profits in the transportation group as a whole declined
about one-fifth from the first 3 quarters of 1948 to the same
period of last year. But, whereas total profits in nonrailroad
transportation were reduced only moderately, railroad earnings fell by two-fifths. The high ratio of costs to receipts in
Table 1.—Corporate Profits Before and
After Taxes, First 3
Quarters of 1949 1
[Millions of dollars]
Profits before taxes
Industry group
All industries, total 2
Mining
_ __
Manufacturing-_
_
Metal industries 3
Other manufacturing <
Transportation
Communication and5 public utilities
All other industries
Profits after taxes
First Second Third
First Second Third
quarter quarter quarter quarter quarter quarter
7,521
6,586
7,259
4,572
3,937
4,394
244
4,281
1,962
2,319
152
475
2,369
202
3,550
1, 570
1,980
285
442
2,107
148
4,042
1,757
2,285
304
439
2,326
168
2,608
1,141
1,467
46
289
1,461
138
2.122
882
1,240
118
265
1,294
106
2,454
1,015
1,439
130
258
1,446
1 Comparable data for the quarters of 1948 were published on p. 4 of the August SURVEY
OF CURRENT BUSINESS. Annual corporate profits estimates by major industrial groups for
1948 and revised estimates for the years 1942 through 1947 were published in the SURVEY
for July 1949 on pp. 16-17. For similar data for the years 1929 through 1941, consult the
National Income Supplement to the SURVEY July 1947, pp. 30-32. Concepts and methodology have been described in Trend of Corporate Profits, 1929-45 in the April 1946 SURVEY,
pp. 11-12. The principal change made since that statement was prepared has been to adjust
for tax credits flowing from the carry-back of unused excess-profits tax credits and net operating losses; that is, these tax credits were added to profits after taxes in those years to which
the tax credits were carried back.
2 Total profits for all industries include the adjustment for the net flow from abroad of dividends and branch profits.
3 Consist of iron and steel, nonferrous metals, machinery (except electrical), electrical machinery, transportation equipment (except automobiles), and automobiles.
4 Consists of food, tobacco, textiles, apparel, lumber and timber, furniture, paper, printing
and publishing, chemicals, petroleum and coal, rubber, leather, stone-clay-glass, and miscellaneous.
5
Consist of agriculture, forestry, and fisheries; contract construction; wholesale and retail
trade; finance, insurance, and real estate; services; and the international balance adjustment.
Source: U. S. Department of Commerce, Office of Business Economics.
this industry explains the fact that a 10 percent decline in
revenues produced such a sharp drop in earnings, even though
the railroads were able to effect some reduction in total
expenses.
Profits of trade corporations were about one-fourth lower
in the first 9 months of 1949 than in the same period of the
previous year. The decline was estimated to be somewhat
larger in wholesale trade than retail trade. Wholesale sales
were reduced markedly over the period, whereas the aggregate of retail sales was virtually unchanged.
The limited information available for the corporate retail
trade sector suggests, in addition to a substantially betterthan-average earnings record of the automobile group, a sharp
divergence of profit experience between the two other largest
segments: general merchandise, which is heavily weighted by
department stores, and food. Profits of general merchandise
stores, whose sales consist to a large extent of items for
which consumer expenditures have fallen, were reduced appreciably. Lower margins were, however, the main factor in
the profit decline. In contrast, food-store profits rose over
the period. Food stores not only maintained their dollar
sales but also improved their margins.
Corporate profits are estimated to have declined more than
January 1950
one-fifth in manufacturing, as compared with one-sixth in the
rest of the corporate system. That the decline in profits was
relatively large in manufacturing is not surprising in view of
the fact that the effects of the 1949 inventory recession on
economic activity were concentrated in this industry.
The downturn of business activity in 1949 would have
had an even larger disproportionate effect on manufacturing
profits if it were not for the fact that profits are realized on
sales, rather than output. In 1948, when there was an
accumulation of inventories, the sales of corporations fell
short of output; conversely, in 1949, when inventories were
liquidated, sales exceeded output. This shift from inventory
accumulation to inventory liquidation was much more
important in manufacturing than elsewhere in cushioning
the 1949 declines in sales and profits. Although from the
first 3 quarters of 1948 to the same period of 1949 the dollar
volume of output dropped significantly more in manufacturing than in the rest of the corporate universe, this was not
true with respect to sales. The decline in manufacturing sales
was moderate, and quite similar to that recorded for the
other areas.
Since the sales experience of manufacturing was not less
favorable, the relatively large contraction of manufacturing
profits in 1949 stemmed from a greater shrinkage of profit
margin. It does not appear that this was due to a disproportionate impact of the shift from inventory profit to loss.
The shift was of about the same relative importance in the
manufacturing and nonmanufacturing sectors. Present
data—which are too tentative to constitute conclusive
evidence—indicate that from the first three quarters of 1948
to the same period of 1949 the ratio of profits exclusive of
inventory profits and losses to sales changed little in manufacturing as a whole but increased in the nonmanufacturing
part of the corporate sector. It cannot be ascertained from
available information whether this apparent lag in manufacturing was due to less favorable changes in the relation
between buying and selling prices for the industry or to other
factors affecting current operations.
In almost all of the 20 principal types of manufacturing,
corporate profits declined from the first 3 quarters of 1948 to
the corresponding period of last year. However, there was a
wide divergence among individual industries in the rate of
profit change. The experience of the automobile industry,
where profits expanded 40 percent, was uniquely different
from that of other manufacturing groups, where, in general,
full postwar expansion of output occurred much earlier.
Profits were well maintained in the food, tobacco, transportation equipment, and the stone, clay, and glass industries.
The other 16 groups all sustained declines, ranging widely
from 10 percent in printing and publishing to 60 percent for
textiles.
With such divergence among individual industries, no
striking pattern emerges when the industries are grouped into
a conventional classification such as metal and nonmetal.
Nevertheless, sales and profit margins tended to be maintained somewhat better in the metal industries, even apart
from the singular showing of automobiles. The largest
relative declines in sales, profits, and margins occurred in t h #
following eight nonmetal groups: textiles, apparel, lumber,
furniture, paper, petroleum and coal, rubber, and leather.
Major developments in supply and demand which affected
the general working of the economy are mirrored in these
profit changes. The 40 percent increase of profits in the
automobile industry—attributable, in roughly equal proportions, to larger sales and margins—reflects the importance of
expanding output in this industry in maintaining economic
activity.
The gradual easing of the high-level demand for fixed
investment had adverse effects on sales and profits in several
of the metal-manufacturing industries, although these effects
SURVEY OF CURRENT BUSINESS
January 1950
were lessened by increased Government and export demand.
Profits declined in the machinery industries but were maintained in the transportation equipment group as investment
expenditures by railroads were little changed over the two
periods and purchases of military aircraft increased. In
primary iron and steel production, corporate profits and
sales in the first 3 quarters of 1949 matched those of the
previous year. The major bolstering influence was the increased demand for iron and steel for automobile production
and for residential and public construction.
Among the remaining manufacturing industries, there
was a clear divergence of pattern as between food and tobacco
And other nondurable groups relying directly on consumer
demand. In the food and tobacco groups, sales, margins,
and profits in the first 3 quarters of 1949 were maintained
at the previous year's levels. In contrast, large declines
occurred in such industries as textiles, apparel, and furniture.
These developments were in general conformity with changes
in the pattern of consumer expenditures.
Net sales
Percent
change in
net opering profits
Profit-sales
ratios
—5
-10
-14
-15
-10
5
—21
-38
-40
-39
-29
-6
—17
as the total for the preceding quarter, but 5 percent below
the peak rate of $234.3 billion reached in the last quarter
of 1948.
For the first 3 quarters of 1949 the annual rate of national
income, at $224.3 billion, was only slightly below the 1948
record yearly total of $226.2 billion. The major change in
the distributive shares occurred in farm income. Largely
because of lower farm prices, the aggregate net income of farm
operators was reduced from $18.4 billion to an annual rate of
$15.5 billion. The net income of farmers accounted for
about 7 percent of the national income during the first 3
quarters of last year. This share, although appreciably
lower than that in the three preceding postwar years, still
compares favorably with the proportion of national income
accruing to farmers in the war and prewar periods.
The corporate profits component of national income—
computed by adding to profits before taxes the inventory
valuation adjustment in order to secure a measure of earnings
from current production—declined from $32.6 billion in 1948
to an annual rate of $31.7 billion in the first 3 quarters of
1949. The proportion of national income formed by this
measure of corporate profits was similar in the two periods.
Estimates of national income originating in the corporate
system provide an alternative basis for appraising the
relative position of corporate profits in the recent period.
On this basis also, as shown in table 3, it is seen that the
relative share of corporate profits inclusive of the inventory
valuation adjustment was approximately the same in the
first 3 quarters of last year as in 1948.
-31
-30
-29
-22
Table 3.—Percentage Distribution of National Income Originating
in Corporate Business, 1948 and First 3 Quarters of 1949l
Table 2.—Percentage Change in Net Sales, Operating Profits, and
Profit-Sales Ratios of Manufacturing Corporations, from First
3 Quarters of 1948 to First 3 Quarters of 1949, by Asset Size
Classes
Assets class (millions of dollars)
All sizes
0 to H
H to 1
1 to 5
5 to 100 _ _
100 and over
__
___
__
_
-11
Source: Federal Trade Commission and Securities and Exchange Commission.
Changes by asset-size groups
Quarterly surveys made jointly by the Federal Trade
Commission and the Securities and Exchange Commission,
on which the current profit estimates for manufacturing are
based, provide data classified by asset-size groups for all
corporate manufacturing industries combined. Percentage
changes in sales, profits, and margins, by size groups, from
the first 3 quarters of 1948 to the same period of 1949, are
summarized in table 2.
The data indicate that the decrease in profits was smaller
for the larger corporations, and that this was due both to
relatively better sales and to a smaller decline in margins.
The record of corporations having assets of $100 million or
more was particularly good. The experience of the next
largest size group—with assets of $5-100 million—was
markedly less favorable, although distinctly better than that
of the three groups with assets of less than $5 million.
Changes such as these could, of course, reflect merely
shifts in industrial composition. Detailed information is not
currently available to show to what extent, if any, this may
j^ave been the case. However, the indications are that there
were genuine differences in the experience of large and small
corporations, irrespective of industry, conforming to this
general pattern.
Changes in national income
The availability of corporate profits estimates permits
derivation of total national income for the third quarter of
1949. (Data on other components of national income were
presented in the November SURVEY.) Third-quarter estimates of national income by distributive shares mp,y be
found on page S—1 of this issue.
National income in the third quarter was at the seasonally
adjusted annual rate of $223.4 billion. This was the same
Item
Income originating in corporate business
Compensation of employees
Wages and salaries
Supplements to wages and salaries
Corporate profits and inventory valuation adjustment
Corporate profits before tax
Corporate profits tax liability
Corporate profits after tax
Inventory valuation adjustment
Net interest
First 3
quarters,
1949
100.0
74.1
71.2
2.9
25.7
22.8
9.3
13.5
2.9
.2
1
Basic data for 1948 from July 1949 SURVEY OF CURRENT BUSINESS, table 12; 1949 data are
preliminary estimates.
Source: U. S. Department of Commerce, Office of Business Economics.
Corporate profits from current production in the first 3
quarters of 1949 were thus maintained as a share of total
national income and of income originating in the corporate
sector. Only if profits are measured inclusive of inventory
profits and losses—that is, without the inventory valuation
adjustment—does it appear that there was a worsening of
the relative share of corporate profits. Profits on this basis
dropped one-fifth from 1948 to the first 3 quarters of 1949—from $34.8 billion to an annual rate of $28.2 billion.
The accompanying chart depicts the movements of corporate profits before taxes, with and without the inventory
valuation adjustment, over the period since 1939. The
difference between the two measures is greatest in periods
of rapid price change, such as during the postwar boom from
1946 to 1948. Corporate profits before taxes are higher
than the series including the inventory valuation adjustment when prices are rising. The opposite is true in periods,
such as 1949, when prices are declining and the amount
charged by corporate business for the inventory element of
cost of goods sold exceeds its current replacement cost.
The sharp difference in movement of the two profits
series in 1949 helps to explain one striking aspect of recent
SURVEY OF CURRENT BUSINESS
Chart 3.—Corporate Profits Before Taxes, With a n d
Without Inventory Valuation Adjustment
BILLIONS OF DOLLARS
401
January 1950
year, to the record annual rate of nearly $21 billion. In
addition to these, other factors—such as diminished investment needs in many industries and the unusually low proportion of dividend distribution throughout the war and
postwar periods—undoubtedly contributed to the maintenance of dividend disbursements in 1949.
Note on Sources of Profit Estimates
30
CORPORATE PROFITS
BEFORE TAXES
y
20
CORPORATE PROFITS BEFORE TAXES
WITH INVENTORY VALUATION
ADJUSTMENT
10
® FIRST THREE QUARTERS OF
1949, SEASONALLY ADJUSTED,
AT ANNUAL RATE
I
1939
\
40
41
42
\
43
1
44
I
45
1
46
1
47
I
48
U. S. DEPARTMENT OF COMMERCE, OFFICE OF BUSINESS ECONOMICS
49
49-405
Source of data: U. S. Department of Commerce, Office of Business Economics.
corporate financial policy—the steady flow of dividend
disbursements in the face of the apparent substantial decline
in total profits. The line indicating corporate profits including the inventory valuation adjustment shows that
earnings on a before-tax basis were well maintained in 1949
after allowance is made for the difference between the
"book" cost and the current replacement cost of inventories
used up in production. Moreover, this measure actually
increased on an after-tax basis, since aggregate tax liabilities
declined by $2.5 billion, at annual rates, because of the substantial drop in book profits, on which they are based.
Accordingly, after account is taken of reduced dollar
requirements for inventory replacement and for income
taxes, corporate profits available for distribution and reinvestment actually increased in the first 3 quarters of last
The statistical sources used in preparing the current estimates of corporate profits in the various industries are not
equally comprehensive and reliable. Benchmarks are based
on corporate reports submitted to the Bureau of Internal
Revenue for Federal income tax purposes. Since, however,
the latest B. I. R. data are for 1946, estimates for more
recent periods have to be based on extrapolation of these
data by partial information.
For the large manufacturing group, the results of the
comprehensive quarterly surveys made jointly by the Federal
Trade Commission and the Securities and Exchange Commission are utilized for this purpose. Adequate current
information is also available from various Federal regulatory
agencies for major components of the transportation and the
communications and public utilities industries. Other
industry groups are less adequately covered. The estimates
for them are based mainly on samples compiled from published corporate financial reports. The largest area for
which current quarterly information is inadequate is wholesale and retail trade. The present estimates for trade rely
on comprehensive, detailed sales estimates prepared by the
Office of Business Economics and limited sample data on
profit margins.
Difficulties are encountered in disentangling the effects of
seasonal influences on the quarterly changes in corporate
profits. Interpretation of the quarterly movements is
handicapped also by the insufficiency of subsidiary information to analyze the factors responsible for changes in sales,
costs, and margins. In the foregoing analyses of changes in
profit margins, for example, only the effect of changing inventory valuations could be assessed—on the
basis of the
"corporate inventory valuation adjustment/ 7 a component
of the national income. It should be noted that, especially
on a quarterly basis, this adjustment is subject to a considerable margin of error.
Farm Income and Price Support
JJURING the 2 years since farm prices reached a postwar
peak in January 1948 under the impetus of abnormal demands from abroad plus the high rate of domestic demands,
they have fallen by 23 percent, which is substantially greater
than the decline occurring in nonfarm prices. Previously,
in the nearly uninterrupted advance from 1940, farm prices
had almost tripled, whereas prices of commodities other than
farm and food products rose about 85 percent from 1940 to
the high point reached in the summer of 1948. Despite the
substantial adjustment in farm prices since January 1948,
they are still high in comparison with prewar relationships,
though it will be recalled that farm prices in 1940 averaged
20 percent below the parity level at that time. In December 1949 they averaged 98 percent of parity.
The reduction in farm prices over the past 2 years has
reflected a general expansion in agricultural output together
with a moderate decline in foreign demand and some slight
easing in domestic demand. Prices of several of the principal
farm crops have declined to support levels, and stocks of
these products have risen from the low carry-overs in the
years following the war. In order to make price support
effective in the emerging demand-supply situation, cropcontrol programs which had been in only limited operation
since the beginning of the war are being reestablished in
1950. These programs will supplement the extensive loan
and purchase program of the Federal Government which has
cushioned the drop in farm prices as well as the resulting
reduction in farm income.
t
Trend in support activity
Despite the extension of support to a broader range of commodities as prices declined, total Government outlays for
current crops through December were being made at about
the same rate as in the previous year. The principal reason
for this over-all stability was the reduced requirements for
support of the 1949 cotton crop. At the year-end, $340
million of cotton had been placed under loan, whereas at the
close of 1948, loans had reached $630 million. Support
SURVEY OF CURRENT BUSINESS
January 1950
activity has also been substantially smaller for the 1949 crop
of potatoes than for the 1948 crop.
Purchases of livestock products for price support, however,
were substantially larger during 1949 than a year earlier with
a rise of $50 million in dried egg purchases and $125 million
in purchases of dairy products as compared with none in
1948.
Since many loans made for price support purposes are repaid and the delivery of crops under purchase agreement is
uncertain, the extent of actual price support is not ascertainable for some months after the end of the marketing
season. Thus a summary of price support operations on the
J948 crops is just now reasonably complete. At the end of
September, loans outstanding on the 1948 crop amounted to
$620 million and purchases for price support and delivery
of crops on loans that had matured totaled an additional
$2.1 billion. The importance of these price support activities in relation to total cash received by farmers from the
sale of these crops is indicated in chart 4 for the principal
crops which received heavy price support.
Chart 4.—Price Support Payments as a Percentage of
Cash Receipts, 1948 for Selected Commodities *
0
FLAXSEED «/
PEANUTS
GRAIN SORGHUM
CORN
WOOL
POTATOES,
IRISH
COTTON
25
1
PERCENT
50
75
1
1
10
mmmmm,
wmmm.mmzm
w%mm,wmm
mmm, wm
mmm%1
1
y
4mm
BEANS, DRY,
EDIBLE
WHEAT
mw\
BARLEY
i
\
U. S. DEPARTMENT OF COMMERCE, OFFICE OF BUSINESS ECONOMICS
49-406
Payments include loans outstanding, crops delivered on matured loans, and purchases
price support for 1948 crops, as of September 30, 1949.
Includes purchases for price support of linseed oil.
Sources of data: U. S. Department of Agriculture, Production and Marketing Administration, and Bureau of Agricultural Economics.
The three crops—flaxseed, peanuts, and grain sorghum—
where support expenditures represented more than half of
cash receipts, are all relatively small sources of total farm
(fincome. For the major crops, corn, cotton, and wheat,
however, support was also an important part of cash receipts,
ranging from one-fourth of the total for wheat to nearly half
for corn.
In the aggregate, the ten crops shown in the chart accounted for almost all price support expenditures and represent about one-fourth of total cash receipts of farmers. The
remainder of farm receipts is accounted for primarily by live-
stock and products and fruits and vegetables which required
only small support expenditures during this period.
For a discussion of the trend in net income of proprietors
in relation to total national income, see the section on
corporate profits.
Extension of crop controls
One of the steps in the support of farm prices is the return
to production controls similar to those existing before the
outbreak of the war. Marketing quotas were in operation in
1949 for most types of tobacco and for peanuts and these will
be continued in the current year. In 1950, for the first year
since the war the other basic crops—wheat, cotton, corn, and
rice—are all to be under acreage control. Cotton will also
have marketing quotas. Furthermore the Agricultural Act
of 1949 implies the extension of controls to nonbasic crops.
In some instances this broadening of control is necessary in
order to prevent the shifting of acreage from a particular
crop under control to other crops whose prices are also supported. For example, soybeans is an important cash crop
in the Corn Belt and in some areas of the South, and grain
sorghum is an alternative crop to wheat in the winter Wheat
Belt. Yet both soybeans and grain sorghums have received
extensive price support during the past year.
The problem of diverted crop acreage is particularly important when control is extended to a large portion of the
crops under cultivation since farmers are reluctant to reduce
the scope of their operations. The three staple crops—
cotton, corn, and wheat—occupy more than half of the total
acreage of harvested crops. In 1950 reductions are asked
amounting to 21 percent for cotton and 13 percent for corn.
Wheat is also subject to acreage control, and since most of
the 1950 wheat crop was seeded in the fall of 1949, there is
some indication of the effectiveness of the control program
for this year.
The Crop Reporting Board of the Department of Agriculture announced on December 20 that the acreage of winter
wheat seeded in the fall of 1949 was 15 percent smaller than
that seeded a year earlier. This reduction was about as
large as had been requested by the Secretary of Agriculture,
but the indicated production of 884 million bushels is only
about 2 percent smaller than that obtained from the preceding crop. The higher yield per acre than last year is the
result of a combination of (1) better weather and (2) seeding
a larger proportion of the crop on summer-fallow land and
on land best suited to wheat. At the same time, there was
an increase of 12 percent in the acreage of rye planted.
There was no control on rye seedings and the Department of
Agriculture reported that a relatively large percentage of the
increased 1seedings were attributable to the reduced seedings
of wheat. The effect upon grain sorghum acreage will not
be known until spring since it is a spring sown crop.
In one important respect, however, the present crop controls are less binding than in the years immediately preceding
the war: Farmers are not restricted as to what they may
grow on the acres diverted from production of any specific
commodity. Furthermore, a farmer may not be penalized
by being denied support if he cooperates in one commodity
program because he fails to cooperate in another program
although, of course, he will not be eligible for loans on the
crop which he has overplanted.
i In absolute terms the rise in rye seedings of 400,000 acres was small in comparison with the
decline in wheat seedings of 9 million acres.
By William Weinfeld
Income of Dentists, 1929-48
This is the second postwar article on professional
incomes published by the Office of Business Economics. It brings up to date the information on
dentists' incomes published in the April 1944 Survey
of Current Business, which provided data through
1941. A recent article (in the August 1949 issue of the
Survey) discussed lawyers' incomes from 1929—48.
New information on the incomes of other independent
professional groups will be published as additional
studies are completed.
LLN 1948 the average net income of all civilian dentists in
the United States was 60 percent higher than in 1929, and 80
percent above 1941. The 1948 mean net income was $6,912,
the median net income $5,888; in 1929, almost two decades
earlier, the mean net income was $4,275, the median $3,676.
The mean income is equal to the sum of all the incomes
divided by the number of income recipients. The median
income is that income below which, and above which, half of
all the income recipients fall.
The inquiry which furnished these data was launched in
the spring of 1949 in cooperation with the American Dental
Association. It was the fifth large-scale, sample survey of
economic conditions in the dental profession conducted by
the National Income Division of the Office of Business
Economics. As the first Nation-wide dental survey since
1942, it provides hitherto unavailable information covering
the recent period from 1944-48. The study was made possible by the generous cooperation of the many dentists from
all parts of the country who voluntarily filled in and returned
the questionnaires which were sent to them.
Forms of Practice
Dentists are now the third largest independent professional
group in the country, being outnumbered only by lawyers
and physicians. In 1948 there were approximately 78,000
dentists in active civilian practice in the United States, of
whom 92 percent were primarily independent and 8 percent
were salaried. Independent dentists had a mean net income
of $7,047 as compared with $5,358 for salaried dentists, but
showed a much less striking advantage in terms of the
median ($5,944 and $5,295, respectively). (See table 1.)
The difference in average net income between these two types
of dentists persists even when the comparison is made for
dentists in the same age groups or in communities of comparable size.
Almost two-thirds (62.6 percent) of the salaried dentists
in 1948 were employed by industry or by Federal, State, or
local government; only a third (37.4 percent) were employed
by other dentists. The latter group reported somewhat
N O T E . — M R . WEINFELD IS A M E M B E R OF THE NATIONAL INCOME DIVISION, OFFICE OF
BUSINESS ECONOMICS. M I S S JEANNE STIEFEL OF THIS DIVISION ASSISTED MATERIALLY IN
PREPARING THE TABULATIONS USED IN THIS ARTICLE.
8
higher incomes (mean, $5,968; median, $5,432) than the
former (mean, $4,993; median, $5,241).
Only 3 percent of the independent dentists practiced in
partnerships in 1948. Another 10.6 percent shared office
space or employees, but were not members of partnerships.
The overwhelming proportion (86.4 percent), however,
practiced alone—with or without employees, but neither in
partnerships nor sharing expenses. Of these three groups,
dentists in partnerships reported the highest average net
incomes (mean, $8,614; median, $6,909), followed by dentists
who shared costs (mean, $7,797; median, $6,796), with
dentists who practiced alone having the lowest incomes
(mean, $6,901; median, $5,802).
Trends in Income
Data covering all dentists are not available for much of the
period since 1929, but are available in some detail for nonsalaried dentists. However, since nonsalaried dentists (i. e.,
those practicing as entrepreneurs, with no additional income
from salaried practice) have constituted between 89 and 94
percent of all dentists since 1929, the trend in their incomes
should provide a highly satisfactory indication for all
dentists as well.
Since 1929 the average net income of nonsalaried dentists,
like that of other independent professional practitioners, has
followed the trend in general economic conditions quite
closely. (See table 2.) Thus, the predepression high point
of prosperity in7 1929 also marked the known predepression
peak of dentists average income, whereas 1933 marked the
lowest point to which the average income of dentists declined
(mean, $2,188; median, $1,880)—reduced by half from its
1929 level (mean, $4,267; median, $3,676). Perhaps because
of the greater relative postponability of dental services in
the mind of the public (or because of postponement in the
payment for these services), dentists' incomes fell somewhat
more than physicians', and considerably more than lawyers'.
Table 1.—Average Net Income of Dentists by Form of Practice, 1948
Form of practice
Major independent:
Without partnersNot sharing costs. _ __ _ __
Sharing costs
__ __
Partnership
_ _ _ _ _ _ _
Total
Major salaried:
Employed by another dentist
, __ _
Employed by industry, government, etc
Total
AH dentists
Percent of Percent of
dentists dentists
Mean
in each
net
within
detailed
income
major
category categories
Median
net
income
79.5
9.7
2.8
86.4
10.6
3.0
$6, 998
6,901
7,797
8,614
$5.903
5,802
6,796
6.909
92.0
100.0
7,047
5,944
3.0
5.0
37.4
62.6
5,968
4,993
5,432
5.241
8.0
100.0
5,358
5,295
6,912
5,888
100.0
Source: U. S. Department of Commerce, Office of Business Economics.
After 1933, dental incomes started a long up-hill climb-—
at first slowly until 1940 (interrupted only in 1938, by the
recession), and then sharply daring the war years as personal
SURVEY OF CURRENT BUSINESS
January 1950
income increased and the number of civilian dentists declined.
By 1942 the previous 1929 peak had been exceeded. In 1945,
although mean net income continued to rise (reaching $6,649),
the rate of increase dropped markedly. In 1946, for the
first time since 1938, a setback occurred, and dentists7 mean
net income slipped about 8 percent to $6,381. This drop
was presumably due to the relatively low incomes earned by
dentists entering or reentering civilian practice after release
from the armed forces.1 In 1947 and 1948, the upward
trend was resumed, with the latter year recording the highest
nonsalaried mean ($7,039) and median ($5,939) net incomes
of the 1929-48 period.
an estimated $945 million in 1948, or 101.9 percent above 1941
and 95.7 percent above 1929. Aggregate net income of all
dentists in independent practice climbed to a new high of
$523 million in 1948, or 107.5 percent above 1941 and 81.0
percent above 1929. (See table 2.)
Table 2.—Number of Dentists and Their Total and x4verage Gross
and Net Incomes, 1929-48 1
Mean income
Year
Number of dentists and aggregate income
According to Census Bureau data, the total number of
independent and salaried dentists in active practice in the
United States remained practically unchanged
from 1930 to
1940 (70,344 and 70,601, respectively),2 the number of new
graduates apparently just balancing the number who retired
or died. The number in independent practice during the
same period w^as virtually constant at approximately 68,000.
(See table 2.)
With the onset of World War II, however, the number of
dentists in civilian practice dropped sharply as some 22,000
dentists were eventually withdrawn from civilian life to serve
with the armed forces, while only a few thousand older dentists could be called back from retirement to help bridge the
gap thus formed. In addition, by dint of accelerated teaching programs the number of dental graduates was increased
markedly between 1941 and 1945, but neither of these steps
was sufficient to prevent a drastic decline in the number of
civilian dentists which was not halted until the general
release of men from the armed forces in 1946.
Tentative estimates indicate that the number of independent and civilian salaried dentists in active practice at the
end of 1948 was approximately 78,000, of whom about
72,000 were in independent private practice and about 6,000
in salaried civilian practice. In addition, some 1,600
dentists were in active practice in the armed forces, thus
making an estimated total of some 80,000 dentists engaged in
active civilian or military practice at the end of 1948.3
This marked increase in the number of active dentists can
be due only in part to the fact that the period since 1939
produced some 3,000 more dental graduates than the
previous nine-year span. In addition, it appears that the
number of retirements was much smaller than in the earlier
period.
With the substantial increases recorded in both mean gross
income and in the total number of dentists, the aggregate
gross income of all dentists in independent practice reached
i In all tables based on the present survey, a dentist in active practice is treated as one
person for a given year, regardless of the number of months he was in active practice
during that year. Likewise, the dentist's income represents the actual amount he
earned during the year, and not the amount he might have earned had he worked the full year.
In 1946, with so many dentists working for 7only part of the year—after leaving the armed
forces—the mean net income of dentists on a 3 ear-equivalent basis was appreciably larger than
on I he unadjusted basis given in the text. For other years, the differences were much smaller.
The comparative figures on mean and gross net income of nonsalaried dentists on the two
bases are given below:
Net income:
Mean income per different dentist
Mean income per year-equivalent
dentist
Gross income:
Mean income per different dentist.
Mean income per year-equivalent
dentist
*
!
j $f\ 640
i
i 6, fi90
j
j 11.591
j
11.662
1945
1946
1947
$6. 922
$6 381
$6,610
$7, 039
7. 058
f) 848
6. 757
7 281
12.115
11 429
12, 032
12 703
12.353
12 265
12, 300
13 139
1948
- Bureau of the Census. Comparative Occupation and Industry Statistics for the United States:
1.940 and 1930, Series P-44, No. 1, February 2, 1944, p. 49.
'• According to estimates of the American Dental Association, there were approximately
fcT.OOO active plus inactive dentists in the United States at the end of 1948. The ADA gives no
separate estimate for the number of active dentists.
See footnote 2 of table 7 for an explanation of the method used in arriving at the tentative
estimate of the number of dentists in active practice.
S (; 7 4 o« ° — 5 0
2
2
Gross'
Net
$7,112
I Num- T o t a l income :
Percent! ber in (millions of
Ratio
by
indedollars)
of net
which pendto gross Median
mean
net
inent
income come * exceeds prac(permetice 6
cent)
dian
(thou- Gross 3 Net
sands)
$4, 267
60.0
1930
1931.
1932
1933
1934 „
6, 814
6,004
4,591
4, 052
4,347
4,020
3, 422
2,479
2,188
2,391
59.0
57.0
54.0
54.0
55.0
1935.
1936.
1937.
1938.
1939.
4,438
4,868
5,148
5,263
5,705
2,485
2,726
2,883
2,870
3,096
56.0
56. 0
56.0
54. 5
54.3
2,173
2,371
2,462
1940.
1941
1942.
1943.
1944.
6,592
7,020
8,320
10,126
11, 591
3,314
3,782
4, 625
5, 715
6,649
50. 3
53.9
55.6
56.4
57.4
()
3,281
(*)
5, 353
1945.
19461947.
1948.
12,115
11,429
12, 032
12, 703
6.922
6, 381
6, 610
7,039
1929.
$3, 676
()
1,880
16.1
68
483
2-S9
68
463
408
312
276
295
2T2
232
168
148
162
68
302
331
350
356
163
185
195
194
209
419
468
510
564
224
252
281
317
350
()
16.4
0)
14.4
15.0
17.1
()
()
15.3
(8s)
()
24.2
57.1
5, 439
27.3
55.8 | 5,142 24.1
54.9 ' 5,544
19.2
55.4 5,939
18.5
667
826
876
945
461
481
522
1
Income data presented here and elsewhere in the article for 1929, 1933, and 1935-37 arc
based on a survey conducted by the Department of Commerce in 1938. (See Herman
Lasken, Economic Conditions in the Dental Profession, 1929-87, U. S. Department of Commerce, September 1939.) Data for 1930-32 and 1934 are estimated from surveys conducted
by the Department of Commerce in 1933 and 1935. Data for 1939 and 1941 are from a survey
conducted in 1942 by the Department of Commerce and the American Dental Association.
(See Edward F. Denison, Incomes in Selected Professions: Pt. 5, Dentistry, SURVEY OF
CURRENT BUSINESS, April 1944, pp. 17-20.) Data for 1944-48 are from the present survey
by the Department of Commerce.
Figures for 1938, 1940, and 1942-43 are estimated.
2
Only the incomes of nonsalaried dentists are included in these 2 columns.
3
Wherever used in this article, the term "gross income" always excludes salaries. The
median gross incomes of nonsalaried dentists, available only for 1944-48, are as follows: 1944—
$9,347:
1945—$9,642; 1946—$9,200; 1947—$10,028; 1948—$10,690.
4
Medians for 1929, 1933, 1935, and 1936 are for all dentists rather than for nonsalaried dentists only. However, the differences are in all probability quite minor, being of the ordor
of 5slightly less than 1 percent in 1937 and 1948.
Data on the standard deviation, available only for 1944-48, are as follows: 1944—$5,113;
1945—$5,620; 1946—$5,246; 1947—$5,179; 1948—$5,250. The coefficient of variation (in percent)
for the same years is: 76.9, 81.2, 82.2, 78.4, and 74.6, respectively. (See footnotes 2 and 3 in
table 4 for explanations of these two measures.)
e Estimated number of dentists (in terms of the average number in a given year) whos*3
major
source of income from dental work was from independent practice.
7
Total income of nonsalaried and part-salaried dentists from independent practice. The?-e
amounts include entrepreneurial income, but exclude salaries.
Data not available.
Source: U. S. Department of Commerce, Office of Business Economics.
Disposition of gross income
Table 3 presents a summary of the 1944-48 trend in
average gross income, pay-roll expenses, other costs of
practice, and net income. Between 1944 and 1948, pay-roll
expenses and other costs of practice incurred by nonsalaried
dentists tended on the whole to increase slightly, with a
resultant mild decline in the net-to-gross income ratio from
57.4 to 55.4 percent. Pay-roll expenses were fairly constant
at approximately one-tenth of gross income, while all other
costs of practice totaled about one-third of gross.
Consumer expenditures for dental services
One of the questions included in the 1949 dental survey
asked the respondent to estimate how much of his gross
receipts were received from government or welfare agencies
or from business organizations, as contrasted with his receipts from individuals. This information was requested in
order to provide data for estimating consumer expenditures
for dental services, one of the components of the gross
national product.
SURVEY OF CURRENT BUSINESS
10
Prior to World War IT, payments to independent dentists
for dental services by other than consumers themselves wore
ineligible. By 1948, however, about 5.3 percent of all gross
income received by dentists from independent practice came
from government agencies, business firms, and other organizations. The overwhelming proportion of these payments
was made by the Veterans' Administration, which disbursed
approximately $50 million to dentists in 1948.
Table 3.-—Average Gross Income, Net Income, and Expenses of
Dentists bv Source of Denta! Income, 1911-48
All dentists
-ail amount:
Gross income !
Total net income
n.sso
0.571
;
j 9, 2,"9
i 5,3-31
l
it has varied but little in the last twenty years. However
different measures of inequality give somewhat conflicting
results, so that the conclusions cannot be considered as clearcut. (See table 2.)
Chart 1.—Percentage Distribution of All Civilian Dentists, by Net Income Levels for 1948
PERCENT OF DENTISTS
12
10 !4
Item
Median amount:
Gross income
Totalnet
J;iiiu;iry
!
$12,497
6,912
9,102
5,121
9, 854
5, 547
10, 451
5,8o8
12,115 11,429
1.210
1,199
3. 983 3.849
6. 922 6,381
12, 032
12, 703
1,322
4, 342
7, 039
9, 642
5, 439
9, 200 10, 028
5, 142 5, 544
10, 690
5, 939
100.0
10.0
32.9
57.1
100.0
10. 5
33. 7
55.8
9, 484
5, 455
Nonsalaried dentists
Mean amount:
Gross income
Payroll expenses
Other costs of practice
Net income
Mr< Han amount:
Gross income
Xet income
Percentage of gross2 income:
Gross income
Payroll expenses
Other costs of practice
Net income
11, 591
3.811
, 6,649
j
I 9, 347
5,353
I
j
100. 0
9. 8
32. 9
57.4
100.0
54.9
100. 0
10.4
34.2
55.4
4 -
2 -
Part-salaried dentists
•an amount: 1
Gross income
$7, 868 $8,067
630
Payroll expenses
535
Other
costs of practice
! 2,530 j 2,739
T
N et income from independent practice-.j 4, 803 jl 4,698
Salaried income
1,573 - 1,557
Total net income
6, 376 6,255
Median amount:
Gross income *
Xet income
6.625 ! 6,875
5,292 I 5,750
$8, 298 $9,009
I 747
i 2,932
()
! 4.619 4,967
! 1,440
1,503
I 6,059
6, 470
6,450
5,031
6,179
5,143
$8, 734
936
3,182
4. 616
1.651
6, 267
7,000
5,395
-$5,000
US.
$0
$5,000
$10,000
NET INCOME LEVEL
$15,000
DEPARTMENT OF COMMERCE, OFFICE OF BUSINESS ECONOMICS
49-400
1 Data are not plotted for the income levels above $15,000. These figures are as follows
$15,000-$19,999 (5.2 percent); $20,000-$24,999 (1.3 percent); $25,000 and over (0.8 percent).
Source of data: U. S. Department of Commerce, Office of Business Economics.
All-salaried dentists
Mean net income
Median net income
5, 761
5,104
6,281 1 5,271
5,500 1 4, 750
6,021 ; 5,691
5,769 ; 5,4S6
:
Wherever used in this article, the term "gross income" always excludes salary income.
- Detail will not necessarily add to total because of rounding.
' Data not available.
Source: U. S. Department of Commerce, Office of Business Economics.
Variation in Income
In 1948, slightly more than 2 out of every 10 dentists reported net incomes of less than $3,000. A like number reported net incomes in excess of $10,000. The remainder, or
nearly 6 out of 10, received between $3,000 and $10,000.
(vSee chart 1 and table 4.) Seven years earlier (in 1941) more
than 4 out of every 10 dentists reported net incomes of less
than $3,000, and only 3.2 percent showed amounts above
$10,000. During this period, of course, consumer prices had
also risen sharply—by about 63 percent. The incomes of
independent dentists showed a much greater variability, or
dispersion, than those of salaried dentists.
Characteristically, the incomes of almost all occupational
groups show great variability, that is, members of a given
occupation have a wide range of incomes. In 1941, among
the major professional groups, independent dentists showed
the smallest relative variability, or inequality, of income—
somewhat smaller
than physicians, and considerably smaller
than lawyers.4
The scanty data available on the inequality of dentists'
incomes over time suggest that—except for the war years,
when the income distribution was exceptionally unequal- —
* See Edward F. Denison, Incomes in Selected Professions: Ft. 6, Comparison of Incomes in
Nino Independent Professions, SURVEY OF CURRENT BUSINESS, May 1944, table 2, p. 15.
867406—50
-2
Factors Affecting Income
Many factors influence the amount of income received by
dentists. Some of these—for example, sex, color, and education—could not be included within the scope of the present
study. Other more or less "intangible" factors—such as
skill, personality, ambition, health, business acumen, and
family connections—may be just as significant, but are
difficult to measure.
However, the present study is able to consider the relationship of dentists' incomes to such important factors as specialization, region and State, size of community, age, and number
of employees, and this is done in the pages that follow.
Earlier, the relationship between income and form of practice
was discussed.
General practice versus
specialization
Specialization of practice has always been rather uncommon among dentists. In 1948, the overwhelming
proportion of dentists (88. 5 percent) were engaged solely in
general practice. About 5. 9 percent indicated that they
were partly specialized, and 5. 6 percent designated themselves as wholly specialized. Interestingly
enough, specialization was more prevalent among1 salaried than among
independent dentists. (See table 5.)
There seems to have been no clear-cut trend during the
past decade toward increased specialization among dentists.
It is true that the proportion of wholly specialized dentists—
always a very small figure—seems to have almost doubled
from 1937 to 1948 (increasing from 3.1 to 5.6 percent).
SURVEY OF CURRENT BUSINESS
January 1950
11
However, the proportion of partly specialized dentists
seems, if anything, to have decreased very
slightly (from
6.2 to 5.9 percent) during the same period.5
Earnings of dental specialists are, on the average, substantially greater than those of general practitioners.
Among independent practitioners in 1948 the mean net
income of wholly specialized dentists was $11,784, or 75
percent larger than the mean of $6,735 reported by general
practitioners. The mean income reported by partly specialized dentists ($7,906) was 17 percent larger than that of
general practitioners.
(as will be shown later) dental incomes have risen least in
large cities, it is also possible that the narrowing of the
gap between earnings of specialists and general practitioners
is interrelated with the shift in city-size earnings differentials.
Unlike independent complete specialists, salaried specialists (mean, $5,868) had only moderately higher average net
incomes in 1948 than salaried general practitioners (mean,
$5,007). This was also the case in 1937. Salaried general
practitioners averaged 38 years of age in 1948, while salaried
complete specialists averaged only 32.
Table 4.—Percentage Distribution of Dentists by Source of Dental
Income and Net Income Level, 1948
Table 5.—Average Net Income and Age of Dentists by Degree of
Specialization, 1948, 1941, and 1937
Item
Xnmber reporting
Percent in each group 1
Mean net income
Median net income
Absolute dispersion of net income 2
Relative dispersion of net income 3
Dentists with
major source of
dental income
from—
Dentists with
entire
source of dental income from—
Independent
practice
practice
Nonsalaried
practice
Partsalaried
practice
2, 730
92.0
211
8.0
2,619
88.6
157
4.8
165
6.6
$6, 912 $7, 047
$5,944
$5,
$5, 112 $5, 235
74.0
74.3
$5, 358
$5, 295
$7,039
$5,939
$6, 267
$5, 395
$5, 691
$5, 486
$2, 952
55.1
55, 250
74.6
$4, 690
74.8
$2,820
49.6
All
dentists
2,941
100.0
Salaried
All
salaried
practice
1.1
0.3
1.1
0.4
$0-$999
$l,000-$l,999_.
$2,000-$2,999..
$3,000-$3,999_.
$4,000-$4,999..
4.3
7.1
8.7
9.1
9.9
4.2
7.1
8.6
9.3
9.5
5.5
8.0
9.5
6.8
14.1
4.3
7.2
8.6
9.1
9.6
5.4
8.3
9.1
12.0
8.7
3.6
5.5
8.8
7.0
14.2
$5,000-$5,999_.
$6.000-$6,999_.
$7',000-$7,999_.
$8,000-$8,999_.
$9,000-$9,999_
11.0
8.6
7.6
6.7
4.7
10.8
7.9
7.3
13.3
17.3
10.0
6.3
1.5
10.7
8.0
7.1
6.8
4.9
13.6
5.4
11.2
4.5
5.0
14.2
19.4
10.9
7.0
1.5
$10,000-$10,999.
$ll,000-$l 1,999..
$12,000-$12,999.
$13,000-$13,999_.
$14,000-$l 4,999..
4.7
3.3
2.6
1.9
1.5
4.9
3.5
2.6
2.0
1.6
2.0
1.3
2.3
1.3
4.8
3.5
2.6
1.9
1.6
6.2 i
2.1
2.1
2.1
.4
$15,000-$19,999-.
$20,000-$24,999.
5.2
1.3
5.6
1.4
5.8
1.4
1.2
1.7
.6
100.0
100.0
100.0
100.0
100.0
2.4
.6
2.7
1.5
$25,000 and over.
100.0
1 In this table, as in all others in this article, the percentage figures refer to the number of
weighted returns, not to the actual number who reported.
2 The measure of absolute dispersion used here is the standard deviation. This measure
indicates the extent of absolute income dispersion, or spread, around the mean net income.
If all incomes were the same, the dispersion would be zero.
s The measure of relative dispersion used here is the coefficient of variation, which is the
standard deviation divided by the mean, and expressed as a percentage. This gives a
standardized measure of the relative amount of income dispersion, permitting the direct
comparison of relative income spread among various groups of dentists or for different years.
* The term "net income" as used in this article includes both net entrepreneurial income
and salaries received from dental work, before payment of income taxes. It always excludes
income received from nondental work.
» Detail will not necessarily add to total because of rounding.
Source: IX. S. Department of Commerce, Office of Business Economics.
However, the gap between general practitioners' and
specialists' earnings has narrowed appreciably during the
past decade, since in 1937 complete specialists earned twice
as much as general practitioners, as against only 75 percent
more in 1948.
A partial explanation for the narrowing of the gap may be
that specialists are now a younger group than general practitioners, whereas a decade ago they were a slightly older group.
Since specialists are concentrated in the large cities, and
5
It is probable that the number of dentists who designated themselves as specialists is
somewhat larger than the number who would be so included under a rigorous definition such
as that used by some States in licensing specialists. It should also be noted that the possibility of a change in the interpretation of the term "partly specialized"—at best an ill-defined
designation—over the 11-year period in question suggests the need of caution in evaluating
the trend for this group, especially since its 1941 percentage was 10.2.
Percent Mean
of den- net income
tists
All dentists:
General practice
Partlv specialized
Whollv specialized
_
Total
Major independent:
General practice..
P a r t l y specialized.
Wholly specialized
Total.
1.0
Total«
Degree of specialization
Major salaried:
General p r a c t i c e . . _ _
P a r t l y specialized
Whollv specialized
Percentage distribution b y net income levels
Net income level: 4
Loss: $l-$3,999__
1948
Total- -
.-
1941
1937
Median Median Mean
net inage
net income (years)
come
Percent
increase
in mean
e t inMean ncome,
net in- 1937
to
come
1948
88.5
5 9
5.6
$6, 619
7,891
10, 605
$5, 737
6,942
8,391
44
46
39
$3, 600
4,321
6,054
$2, 819
3, 665
5, 418
135
115
9ft
100.0
6,912
5,888
43
3,773
2,914
137
89.5
5.6
4.9
6.735
7, 906
11, 784
5,796
7,017
9,550
44
45
41
0)
0)
0)
2
2, 799
3, 538
5, 633
141
123
109
100.0
7,047
5,944
44
2 3,782
2
2,883
144
75.9
9.7
14.4
5,007
(3)
5,866
5,062
(3)
5,350
38
0)
0)
0)
4
100.0
5,358
5,295
(3)
32
37
4 3,493
2
2
3. 229
3, 343
* 3, 474
4
* 3,178
55
0)
69
69
1
2
Data not available.
These averages are for nonsalaried dentists. Comparable figures for major independent
dentists
are not available.
3
Too few cases in sample to yield reliable results.
4
These averages are for all-salaried dentists. Comparable figures for major salaried dentists are not available. The 1937 mean on the "Total" line is smaller than any constituent
mean because it includes dentists who did not report on degree of specialization.
Source: U. S. Department of Commerce, Office of Business Economics.
Type of specialty
Because of the small proportion of dentists who are
specialists, the survey sample is adequate to provide average
net income figures for only a few of the specialties. In 1948,
orthodontists were not only the most" numerous group of
complete specialists, but among independent practitioners
they also seem to have had the highest average net income
(mean, $13,353; median, $12,750), about double that of the
average independent general practitioner. Oral surgeons
(including exodontists and endodontists) had the second
highest incomes (mean, $11,641; median, $9,750). (See
table 6.)
Regional and State differentials
Not only do significant income differentials exist among dentists in the seven geographic regions of the country, but the
relative positions held by some of the sections have changed
markedly since 1941. Moreover, the regional ranking of
average dental income is significantly different from that for
the average income of the general population.
Dentists in the far West had a higher average net income
in 1948 than those in any other section of the country;
Southwest was second; Southeast and Northwest, third and
fourth (the exact order depending on whether the mean or
median is used); Central States, fifth; Middle East, sixth;
and New England, seventh. (See table 7.) This is in sharp
contrast to 1941, when the ranking was: far West, first;
New England, second; Middle East, third; Southeast,
SUBVEY OF CUHRENT BUSINESS
12
fourth; Southwest, fifth: Central States, sixth; and Northwest, seventh.
The range of regional variation in dentists' income was
pronounced. In 1948, dentists in the far West had a mean
net income ($9,751) 66 percent larger than that ($5,891) of
New England dentists. Their median net income ($8,920)
was even more in excess—82 percent-—of the New England
median ($4,896).
For the 23 larger States for which the sample was adequate
to furnish data, dentists in the States of Washington, California, Oregon, and Texas reported substantially higher
mean net incomes than any other State. Such large States
as New York, Pennsylvania, and Illinois reported only moderate average incomes, considerably below those of the leading
States.
Table 6.—Average Net Income of Partly and Wholly Specialized
Dentists Whose Major Source of Dental Income Is From Independent Practice, by Field of Specialization, 1948
Wholly specialized
Field of specialization
J
Oral surgery and exodontics 2_
Orthodontics 3
Prosthodontics
_
Periodontics
Pedodontics
_
_ _
Total
5
Partly specialized
Percent Mean Median Percent Mean Median
net
net
of
net
net
of
dentists income income dentists income income
25.1 $11,641
53 4 13,353
6.8
6.8
7.8
$9, 750
12, 750
11,784
9,550
100.0
27.5
19 9
34.7
8.4
9.6
$9, 409
8,535
5,977
100.0
7,906
$7, 875
7, 2*6
5,125
(4)
7,017
1
The named fields of specialization are those recognized by the American Dental Association
in 1948.
2
The field of endodontics is included here.
5 Ocular prosthetics is included here as a partial specialty.
*5 Too few cases in sample to yield reliable results.
Detail will not necessarily add to total because of rounding.
Source: U. S. Department of Commerce, Office of Business Economics.
The relative gains made by dentists since 1941 in the southern regions and the Northwest by comparison with those in
the Middle East and New England are not surprising, since
they are in line with the broad shifts which have taken place
in the regional income structure of the general population.
It is surprising, however, to find that the absolute level of
average dental incomes is lower in the Middle East and
New England than elsewhere, since the per capita income of
the general population in 1948 was higher in both regions
than that in the country as a whole. Such a finding demands
explanation.
This is to be found in the data for the number of dentists
per hundred thousand population shown in table 7, which
indicate that the areas having the largest ratio of dentists to
population also tend to have the lowest average net dental
income, although this negative association is by no means
perfect.
In 1948, New York State, with 9. 75 percent of the civilian
population, had 16. 13 percent of the Nation's civilian
dentists. With the highest per capita income, it nevertheless had lower mean and median dental incomes ($6,080 and
$5,013, respectively) than the average for the Nation as a
whole ($6,912 and $5,888, respectively).
It is also of considerable interest to note that the geographic regions having the largest supply of dentists per
100,000 population are, by and large, the regions with the
highest per capita incomes for the general population.
(The rank order correlation is +0. 89, indicating a very
close positive relationship.) When considered by States,
the relationship of dental supply to per capita income is
almost as striking. (The rank order correlation is + 0 . 79;
the correlation coefficient, +0. 82.)
With the aid of the data in table 7, it was possible to develop
crude estimates of the regional variation in consumer expend
J a n u a r y 1'.»."><
itures for dental services.6 These estimates are comparer
with those for per capita income in the following table:
Region
New England
Middle East
Southeast. __ __
Southwest..
Central
Northwest
Far West
United States
Ratio of
per capita
consumer
expenditures for
dental
services to
the nationa
average
; Ratio of
! per capita
! income
i pavments
;! to the
national
average
1.03
1 15 '
1.06
1 17
.54
.68
Mean net
income of
independent
dentists
; Dentists
! per 100.(^0
! population
'
!
1 08 I
.98 !
1.54 i
.82
1. 09
1.00
1.12
$6.100
6 174
7.348 \
8. 587 !:
6 763
6. 792
10,210 !
1.00
1.00
7.047 i
f;
~,i
2>
3;
'•
U
1
The above figures bring into focus the relationship between
average dental income, the relative supply of dentists, and
per capita income of the general population. They show
the anticipated close relationship between per capita income
and per capita dental expenditures for all regions except the
far West. They also indicate that the low average income of
dentists in New England and the Middle East is not due to
low per capita expenditures for dental services—per capita
expenditures for this purpose are 3 percent and 15 percent,
respectively, above the national average—but to the greater
supply of dentists in these areas relative to effective demand.
Per capita expenditures for dental services in the two
southern regions fall below the national average by an even
greater percentage than does per capita income, so that the
high average earnings of dentists in these sections of the
country is apparently due to a shortage of dentists rather
than to an exceptional consumer expenditure pattern.
It seems a safe general conclusion from the data that the
geographic distribution of dentists is over-concentrated
with reference to the economic demand for dental services.
Size of community
The population size of the community in which dentists
practice has an unmistakable influence on the amount of
their earnings, although the pattern of variation over time
has been a changing one, particularly for the cities of 500,000
or more inhabitants.
The smallest mean net income in 1948 ($5,010) was received by dentists in the smallest communities. (See table
8 and chart 2.) As size of place increased, average income
also increased gradually (with but slight irregularity), until
a peak of roughly $8,000 was reached in places having bebetween 25,000 and 250,000 inhabitants. Then, as size
of place increased further, average income declined (again
with but minor fluctuation) until in cities of a million or
more the mean net income for all dentists dropped to $5,980.
Only in places having fewer than 2,500 inhabitants did
dentists have a lower mean net income than in cities above a
million. In terms of the median (which minimizes the effect
of the small number of unusually large incomes received in
metropolitan centers), only dentists in places with fewer than
1,000 inhabitants had a lower net income ($4,450) than in
cities of a million or more. However, the lower incomes in
communities under 2,500 population may be attributable in
part to the fact that
the dentists in these areas are on the
average about 5 }7ears older than those in the largest cities.
Variation of average income by size of place in 1941 was
similar to that for 1948, except that the decline in earnings in
6
The calculation requires the assumption that the ratio of total net income of independent
dentists (computed as the number of independent dentists times their average net income j
in each region to total consumer expenditures for dental services in the region is the same
for each region of the country. There is no apparent reason why this relationship should
not hold rather well.
uary low
SURVEY OF CURRENT BUSINESS
13
Table 7.—Number of Dentists and Their Average Net Income by Major Source of Dental Income and by Regions and States, 1948
Average income of
all dentists
in civilian
practice
Region and State
Average income of dentists in
civilian practice with major
source of dental income from—
Percentage distribution of—
Dentists with
major source
of dental
income from—
Salaried
practice
Independent
practice
Mean i Median | Mean Median Mean Median
net
net
net
net | net j net
income | income ! income income income income
United States £___
New England
Connecticut
Maine
Massachusetts
New Hampshire
Rhode Island
Vermont
-.
$6,912
I
i
j
I
i
j
j
Middle East
..
Delaware
District of Columbia.
Maryland
Xew Jersey
New York
Pennsylvania
West Virginia
Southeast..
Alabama
Arkansas
Florida
Georgia
Kentucky
Louisiana
Mississippi
North CarolinaSouth Carolina..
Tennessee
Virginia
$5,
5,891
o. 706
4,896
5,558 |
6,100
6,104
$5,944
$5,358
5,125 I
5,750 !
5,902
6,075 j 5,122
6,174
5,156
7, 025
6. 033
6.080 i
5,553 |
7,
6,
6,
5.
5, 464
5, 205
5, 034
5,148
5,429 '
5, 159 !
5.013 !
5.086 I
122
083
209
616
7,117 ! 6,172
7,348
(6)
7.812
7, 815
(
i
( fi )
(6)
CO
CO
C)
C)
V)" :
(6)
5.000 j
(ft)
7. 177
CO
(8)
i
() I
8,439
(6)
O
7,393
8,587
8,063
I
fl
() I
8,560 |
Central
Illinois
Indiana
Iowa
Michigan
Minnesota
Missouri
Ohio
Wisconsin
6,673!
6,057 j
7,381 j
5,532 f
7,846 !
7,522 ;
6,071 I
7,021 |
6,120 j
j
j
I
i
j
!
!
Northwest
Colorado
Idaho
Kansas
Montana
Nebraska
North D a k o t a
South Dakota
Utah
Wyoming
j 6,834
I 6,918
:
(6)
| 6,750
! (6)
! 7.314
; («)
(6>
(6)
(6)
(
co
C)
C)
I
4,778
(6)
(
4. 586
C)
C)
(
C)
(«)
(
C)
(6)
CO
C)
C)
i
II
$5,295
6,321
(fi)
Per j Dencapita j lists
income' per
of
j 100.000
general ;• civilian
)opu- I population ; lation
CO
(6)
7, 099 j
Southwest
Arizona
New Mexico.
Oklahoma—.
Texas
$7,047
Rank *
()
C)
CO
CO
6,'833
8,794
7, 417
5,826
5,321
6,400
4,667
6,909
7,000
5,591
6,023
5,296
6,763
6,102
7,491
5, 572
7, 966
7, 915
6. 146
7.190
6,198
5,858
5,464
5,316 ,
CO
6,500 I CO
4,750
6
7,214 i
6. 969
CO
5. 386
C)
6, 167
(6)
5,306
()
4,827
C)
(
4, 833
C)
(6)
(8)
(6)
1.945 j
2.425 •
3, 148 j
2,846
2. 600 I
2, 112 '
3, 785
1,965
3,194
3.019
tt
( )
(")
(6)
o6
()
()
C)
()
(6)
o
()
5,442
C)
C)
()
CO
C)
)
(
C)
Far West
California
Nevada
Oregon
Washington
9,751
9,846
(6)
• 9,186
___ 10,003
:
6,792
6,294
6,600 : (*)
6,091
5.333
(6)
7, 000
5, 306
6. 742
(6)
()
CO
o
(6)
(fi)
00
C)
C)
8,920
8,781 t
9.000
9,375
10,210
10, 425
(fi)
9.384
10, 224
9,137
9,117
CO
9. 000
9, 500 !
8
6,667
6,694
o
)
()
C)
o6
()
()
C)
(6)
C)
(6)
6,150
6,125
CO
C)
(6)
i The per capita figures are from Charles F. Schwartz and Robert E. Graham, Jr., State
Income Payments in 1948, SURVEY OF CURRENT BUSINESS, Aguust 1949, table 8, p. 15.
- Estimated number of independent and salaried dentists in active civilian practice as
of Dec. 31, 1948. (Excludes dentists in the armed forces, who numbered approximately
1 ,i>34 at the end of 1948.) The estimates were made by taking as a starting point the number
of dentists in each State included in the complete roster of dentists of the commercial mailinglist firm which provided the addresses used in the present study. The proportion of retired,
deceased, and military dentists in each State, as indicated by the returns, was converted
"nto absolute numbers and subtracted from the basic count to determine the number of
active civilian dentists by States. It may be that, because of possible under-reporting by
retired dentists, the estimate overstates the number of dentists in active practice, but there
is no way of determining this point at the present time.
3
Estimated civilian population as of Dec. 31, 1948. Calculated from Census Bureau
estimates for July 1, 1948, and July 1, 1949, by straight-line interpolation. See Census releases P-25, Nos. 26 and 32.
4
The regions are ranked separately from the States.
5
Detail will not necessarily add to total because of rounding.
6
Too few cases in sample to yield reliable results.
the largest cities was less pronounced in 1941. (See chart
2.) In the depression year of 1937, however, the pattern was
the same for all places up to 500,000 population; beyond that
point—instead of declining—average income remained virtually unchanged. Although dentists' incomes doubled or
more than doubled in the 1937-48 period for all community
sizes, they increased most in the middle-size communities
(25,000—99,999) and least in the cities of a million or more.
In 1948, age was apparently not a significant factor making
for community-size income differentials, except perhaps in
places under 2,500 population, where the average age (48
years) was appreciably above that for the Nation as a whole
(43 years). In all other community-size groups (but for an
unexplained vagary in the 2,500-4,999 group), the median
age of dentists is remarkably consistent for all city sizes, not
varying by more than 1 or 2 years from the national average.
The pattern of income variation by size of community
poses an interesting question as to causality. It will be
noted in table
8 that the number of dentistsper 100,000
population 7 increases steadily as size of community increases,
reaching a peak in cities of a million or more. Likewise,
Source: U. S. Department of Commerce, Office of Business Economics.
7
In the absence of more recent data, figures for 1940 were used.
SURVEY OF CURRENT BUSINESS
14
January
data for the entire civilian population indicate that income
per family increases steadily as size of community increases,
also reaching a peak in cities of a million or more, On the
other hand, the average income of dentists, it will be recalled,
increased only up to cities of 100,000 (or 250,000) population,
and then declined.
as a group) a higher average income than that of any othei
population-size group, a situation in sharp contrast to that
prevailing in 1948. Even in 1929, however, Chicago and
Philadelphia dentists had lower incomes than the national
average, and in 1948 Philadelphia, Chicago, and New York
City were all below the national level. Table 8 gives additional data for seven of the largest cities.
Table 8.—Average Net Income and Age of Dentists by Size of
Community and for Selected Large Cities, 1948
Age
Percent
All dentists
Size of c o m m u n i t y
and specific cities '
Size of community:
Under 1,000
1,000-2,499
2,500-4,999
5,000-9,999
10,000-24,909
25,000-49,999
Major independent -
Dentists Median
per family
increase
in
Per- Mean Me- Me- mean
dian
cent net
dian
net
inin- net in- age
of den- come
come,
come (years) 1937 to
tists
1948
100,000 income,
popu1947i
lation,
1940s
3.6 $5,010 $4, 450
6.9 5, 649 5, 060
6.3 6, 870 5, 927
7.8 6, 485 5,761
11.7 7.180 6.078
8.6 7,962 7,045
49
47
39
43
42
43
131 $5, 067 $4, 500
137 5. 696 5,138
150 6, 985 6,013 '
138 6,530 5,795
136 7,255 6,156
160 8,145 7,240
50,000-99,999
100,000-249,999
250,000-499,999
500,000-999,999
1.000,000 or more__.
7.2
9.3
9.2
8.8
20.6
8,125
8.105
7, 254
7, 352
5, 980
6.886
6, 938
6, 458
6,182
4,962
44
43
43
45
43
160
144
144
145
99
8,483
8. 379
7, 378
7, 603
6,064
7. 375
7, 094
6,588
6,357
4, 989 }
57 |
63
78
U n i t e d States 5-_
ICO. 0
6,912
5, 8S8
43
137
7,047
5, 944
54
1.0
2.5
1.3
9.577
8. 562
7, 341
6.919
8, 750
7,750
5,778
5,958
43
43
43
44
(6)
152
(6)
117
9. 483
9,021
7, 668
6.574
8.417
8,125
5,806
5, 650
City:
San Francisco
Los Angeles
Cleveland
Detroit
New York City
Chicago
Philadelphia _
10.8
3.6
2.0
5, 609
5,294
5, 216
4. 385
4.846
4,722
42
45
42
76
107
103
5, 769
5, 322
5,309
4,417
4,833
4,781
| $2. 221
31
37
45
54
95
j ,m
J
2,907
Of all the factors associated with income, age seems to
show the most consistent behavior, generally unmarred by
unexplained fluctuations often encountered in size-of-community, regional, and other comparisons.
As may be clearly seen from chart 3, the mean net income
of all dentists in 1948 rose sharply and steadily from its lowest
value of $2,823 for dentists under 25 years of age to a peak
of $9,117 for dentists 40-44 years of age, then declined somewhat less sharply, but no less steadily, with increasing age
to a value of $3,227 for dentists 65 years of age and over.
(Also see table 9.)
Chart 2.—Mean Net Income of All Civilian Dentists, by
Size of Community
1 3,017
!S
3, 347
(RATIO SCALE)
THOUSANDS OF
10
9
2, 685
;
(6)
!
(6>
DOLLARS
j
i
1
For 1948 data, size of community is expressed in terms of 1940 population because1 no official
figures of more recent date are available. For 1937 all dentists in Los Angeles had a mean
net income of $3,403; Detroit, $3,193; New York City, $3,184; Chicago, $2,555; and Philadelphia,
$2,569.
2
There are too few salaried dentists in the sample to yield reliable figures on average income
except for the following community sizes: 100,000-249,999 population (mean net income, $5,933;
median,
$5,900) and 1,000,000 or more population (mean, $5,058; median, $4,813).
3
Calculated from table 8, p. 19, Joseph E. Bagdonas, Economic Considerations in Reestablishing a Dental Practice, Journal of the American Dental Association, Jan. 1, 1946. The
figure for the United States (54) was independently calculated on the basis of 1940 census
figures.
4
Bureau of the Census, Incomes of Families and Persons in the United States: 1947, Series
P-60, No. 5, Feb. 7, 1949, table 1, p. 15. Data for places under 2,500 population are unpublished
figures supplied by the Bureau of the Census.
5
Detail will not necessarily add to total because of rounding.
6
Data not available.
Source: U. S. Department of Commerce, Office of Business Economics.
I t seems plausible, therefore, to a d v a n c e t h e h y p o t h e s i s
t h a t in 1948 t h e s u p p l y of d e n t i s t s w a s smallest relative to
effective d e n t a l d e m a n d — w h i c h is n o t necessarily t h e s a m e
as t h e need for d e n t a l services—in cities h a v i n g b e t w e e n
100,000 a n d 250,000 i n h a b i t a n t s . I n smaller places, effective
d e m a n d declined m o r e sharply t h a n t h e n u m b e r of d e n t i s t s
per capita, \vhil<* in larger places the effective d e m a n d for
dentists' service^ iri'Teascd less rapidly t h a n the n u m b e r
of d e n t i s t s per c a p i t a . M u c h licrlil could be t h n m n on t h e
MiSi'H't if e s t i m a t e s cf per c a p i t a income and per c a p i t a
consumer e x p e n d i t u r e s for d e n t a l services were available by
M/O of c o m m u n i t y (<nc]\ a^ lin^i- p i v s n led o:Hior !>v region .
T h e ^:r',e-of c o m m u n i t y meoihe p a f l i r n for 1 v?(.) \\ as m
L( M ncral (jU'tc -i?»ii!a,r to (nilI ou<rh pi^'hap* not so proiiou >'<-d
a^ i h a l piv\ a'Jlno; v -onv 20 \ C M S L i r, except that in cities
of a million in m o r e itaKi n us v ^i\n«p • i?.."onit sn» \< r<4ati\ciy
(>!
I'.'^'.h (! 'ill W s
Ml \ l
%
\
\i>l>\
'
*' t p <
v
-0)
•»»•********
1937
UNDER
1,000
1,000
TO
2,499
2,500
TO
4,999
6,000 10,000 28,000 50,000 100,000 250,000 500,000 1,000,000
TO
TO
TO
TO
TO
TO
TO
AND
9,999 24,999 49,999 99,999 249,999 499,999 999,999 OVER
POPULATION GROUP"
U. S. DEPARTMENT OF COMMERCE, OFFICE OF BUSINESS ECONOMICS
i
DmU112; the p:\st
dee-u'e. the j^^ e of peak
(•rrn
p
p
hha s ii ndc r e a s e d .
II n 1 9 3 7 t iin P<*IJU p e r ii o d
; in 1 i ; l l Micro A Ti- i i t l o ('nl< »*o u v h i we o n
i O - " 4 ntM- b u K ' k e i s i n 194S (lie n $k
h
C ( If- o f
^ "
< ' \ '(
1))A
l
\
11 •J l [;!"»•.
"
,
«
ii 511 . '
\
U l M{ • «
M I ' ,
w
)
i »
-\
\ > u > w o e o *
I ! : P
<••
!
.'•<• :
i .
(
Mut
1
.'•
\ v
w !{«' i , '1 \
> \J\
!« P i
1 Mi
>?ln -
j. i !
i " I l
••!"
.MOl'O
49-3981
i Data for 1941 above the 50,000-99,999 population group are available only for places of
100,000-499,999 and 500.000 and over.
Source of data: U. S. Department of Commerce, Oiflce of Business Economics.
< t ,
»'
-
1
i
'
, ir
' I ' M , , 11
\l
o
)til
i . i
SURVEY OF CURRENT BUSINESS
January 1950
Table 10, which presents a cross-classification of the percentage of dentists by net income level and age group, is a
good example of what a simpler summary table showing
only average income by age groups, or only average age by
income levels, must leave untold.8 Clearly, dentists of all
ages are found at practically every income level. However,
Chart 3.—Mean Net Income of All Civilian Dentists, by
Age Group
( RATiO SCALE )
THOUSANDS OF DOLLARS
0
9—
_
V
8 7
5
-
J
/
6
15
Dentists who sustained losses in 1948 averaged 32 years of
age, the youngest group at any income level. However, although two-thirds of the dentists who suffered losses were
under 35 (no dentist in the sample between the ages of 35
and 50 reported a loss), about one-quarter of the dentists
who lost money were over 60.
Thus, dentists who lost money
tended to be primarily the very young, but also included a
substantial proportion of the very old.
Similarly, although the median age of dentists who made
$0-$2,000 was 59 (the oldest group at any income level),
more than one-fourth of the dentists at this level were under
30.
Tims, the very low income recipients were primarily
the very old, but also included many of the very young. As
income increases, fewer and fewer of either the very young
or the very old are found at each income level.
Table 10.—Percentage Distribution of Dentists with Major Source
of Dental Income from Independent Practice by Age and Net
Income Level, 1948
,1941
\ g e group (years)
4
>'
.....
\
By age group Percentage of dentists at each
income level
Median
age l
Net income level
3
All
dentists 2
Under
30
30-39
40-49
50-59
60 and
over
937
2
\
/
/
1
I
UNDER
25
1
i
2 5 3 0
T O TO
29
34
i
!
i
3 5
TO
39
A6E
4
0
TO
44
GROUP
4 5 5 0
TO
TO
49
54
(YEARS)
!
5 5
TO
59
1
6
32
1.1
2.9
1.2
0.3
1.7
59
50
43
43
42
41
11.0
17.9
20.5
15.3
11.8
8.5
20.9
21.2
25. 3
12.4
10.2
3.3
4.0
12.2
20.3
18.4
13.6
12.4
2.2
12.2
18.5
17.8
14.1
13.2
5.3
18.2
22.0
16.3
14.1
7.5
31.1
31.0
17.3
8.:-;
5. 2
l.b
42
42
6.1
5.6
3.0
.6
7.9
8.3
9.3
9.0
5.9
6.0
2.2
1.0
47
2. 2
3.7
4.4
.1
100.0
•2
100. 0
1.7
44
100.0
100.0
100.0
100.0
_
$12,000-$14,999
$15,000-$19,999
065
TO
64
Loss: $l-$3,999
$0-$l,999
$2,000-$3,999
$4,000-$5,999
$G,000-$7,999
$8,000-$9,999
$10,000-$! 1,999 - -
AND
OVER
$20,000 and over
All dentists 2__ .
U. S. DEPARTMENT OF COMMERCE, OFFICE OF BUS/NESS ECONOMICS
By income level: percentage of dentists in each
age group
Source of data: U. S. Department of Commerce, Office of Business Economics.
levels having identical or very similar average ages show
quite different concentrations of dentists by age groups,
and a low average age alone may fail to reveal a secondary
concentration at a much higher age group.
Table 9.—Average Net Income of Dentists by Age Group, 1948
Major
salaried 2
Major independent
All dentists
I
Age group (years)
Under 25_.
25-29
„
,0 A
1
Percent!
increase
Percent Mean Median I in mean! Percent Mean
net
net
net j of
!dentists income income ! income,! dentists
! 1937 to I
I
1948
1.8
14. 3
$2,823
4, 707
$2,344
4, 398
1.1
13.4
13. 9
12 7
Ii i
148
144
1-42
no
2 7
's / ^
'.2 j i,. 117
ie.r>
'n J
° i
\ ' ) | s,r>i,J
>
il.
L V
(
' H
<
i,
4, 868
7 '^ )
J,
V)1*-
32
100.0
38.8
28.6
59
50
43
43
42
41 |
100.0
100.0
100.0
100.0
100. 0
100.0
27.5
17.2
17.9
11.8
12.4
5.7
9.8
18.2
26.4
32.1
30.4
39.0
4.4
14.7
19.5
25.3
25.8
33.8
9.8
20.5
21.7
21.6
23.9
17.9
48.6
29.4
14.4
9.2
7.. 4
3. G
$12,000-$14.999.
$15,000-$19,999.
42 | 100.0
42 I 100. 0
7.2
1.6
34.2
39.1
33.1
34.8
19.4
21.5
6.1
3.1
14.5
26.6
21.7
40.4
$20,000 and ovcr___
44
All dentists.
•
26.5
100.0
20.2 I
i
Median} Percent
net | of
income ! dentists
$2,300
4, 515
7, Sol
S,o_0 I
7, 1" I j
7, ('"7
9.3
24.7
) S
13 1
il
1 Dentists with net incomes of $2.000-$2,9'.)9 had a median age of 57; $3,000-$3,999. 48 years:
8 ,000--*8,999. V.\ year's; $9,000-S9,9ih), 40 years: *h).000-$10,999, 40 years; $11,000-$} 1 .«L>ii, 43 years.
2
Detail u ill not n<>'^s.-ar'iiy add to n t a l because of rounding.
Source: T. S. LH-j-aitiiio-ni of Conim.o'-ce, Glliee of Business Economics.
Number and earnings of employees
(
Almost h\o-il.ii\ls (63
bad
viM]V
(]x
i \t->
10
i\',\ii
l.^'iv-
b
i J ">
-
$3,058
6.1 I
Loss: $l-$3,999.
$0-$l,999
$2,000-$3,999...
$4,000-$5,999-_$6,000-$7,999...
$8,000-$9,999__.
$10,000-$l1,999.
V l >,^
.'.-Ml
1
o( <o\nc
oii'V
(°)i}3! ^
']••, 'oXfM1*.
p
kind
of Iho uousaloriecl
i n l'MK.
1 c i n ] ) K > v ( v4, ^ l i i i ' h l l y
t'o^. ttnd
("\lO
J] '
n
^
m »it
K w ri1 .ii.ia
^ I ' l L
1
1 1 . )
1
/M)ont 4 *vut off
liioro
ou»
tiuin
o-l1 1 0
1 <M< " I
li.-u!
/.
or
SURVEY OF CURRENT BUSINESS
16
Of course, some dentists with no employees had high
incomes, and some with several employees had low incomes,
but in both cases the percentages were quite low (table 12).
In 1948 only 3 percent of the no-employee dentists had
incomes above $10,000, whereas half of the dentists with two
or more employees had such incomes. On the other hand,
at the lower income levels (below $4,000), we find more than
half (60.4 percent) of the dentists with no employees and
only 7.5 percent of those with two or more employees.
Table 11.—Average Net Income of Nonsalaried Dentists by Average
Number of Employees, 1948
Number of employees
Average net income of dentists
Percent of
having specified number of
dentists having
employees
specified
number of
employees
Median
Mean
i
None
T~n<ier 0 50
1
o
o
4
5 or more 2
Total
3
37.0
2.9
41.7
12.0
4.0
1.2
1.1
$3,819
4,370
8,134
9,930
12, 568
15, 732
18,955
$3,239
4,058
7,321
8,941
11,464
18, 062
17,500
100.0
7,039
5,939
1
Dentists were asked to report on the count of their employees as follows: "A person who
worked 12 months during a year, either full time or part time, is counted as 1 employee.
A person who worked 6 months is counted as M. A person who worked 3 months is counted
as Y\. Thus, this table includes both full- and part-time employees on a monthly-average
basis. The category "under 0.5" includes dentists who had one or more employees in the
calendar year 1948 who totaled less than a half man-year of employment. The category 1
includes 0.50-1.49 man-years, 2 includes 1.50-2.49 man-years, etc.
• About 0.5 percent of the dentists reported having 5 employees; 0.5 percent, 6; and 0.1
percent,
7 or more.
3
Detail will not necessarily add to total because of rounding.
Source: U. S. Department of Commerce, Office of Business Economics.
Table 12 also indicates that the number of employees per
dentist (including dentists with no employees) rose steadily,
with but few aberrations, from 0.1 at the $0-$999 net income
level to 3.2 for dentists making more than $25,000.
Table 12.—Average Number of Employees and Pay Rolls of
Nonsalaried Dentists, 1948
of dentists
Percent of dentists Percent
with specified
at a given income
number
of emlevel having speci- ployees distribfied number of
uted
by
income
employees
levels
Mean
Net income level
2 or
more Nonei 1 i
None
Number of
Salary
Pay
emper
roll
2 or
ployemper
more ees per dentist ployee
dentist
Loss: $l-$3,999__.
75. 5
24. 5
2.3
0.6
$0-$999
$l,000-$l,999
$2.000-$2,999
$3,000-$3,999
$4,000-$4,999
89.5
82.8
73.4
58.5
40.8
8.9
15.7 i
18.8 !
35.8 !
1.6
1.6
7.8
5.7
49.9 I 9.4
10.4
16.1
17.2
14.4
10.6
.9
2.5
3.6
7.3
10.8
0.4
.6
3.7
2.8
4.9
33.9 55.1 ! 11.0
26.2 I 60. 3 ' 13.5
23.5 ! 53.0 23 5
21.6 56.5 ! 21.9
16.4 59.8 I 23.8
9.8
5. 7
4.5
4.0
2 2
13.2
10.8
8.5
8.6
6.6
6.4
5.9
9.1
8.1
6.4
.73
.87
1.04
1.08
1.14
746 I
935 ;
1,368 ;
1.531
1, 660 !
1,018
1.072
1.319
1,420
1.460
$5 000-$5,999
$6.000-$6,999
$7.000-$7,999
$8.000-$8,999
$9,000-39,999
_
0.21
.11 !
.17 |
.32
.41
. 62
$256
87 I
138 ;
266 ;
371 i
552
$1,243
796
816
836
915
886
$10,000-$10,999
$ll,000-$l 1,999.__
$12.000-$12,999.__.
$l:i,000-$13,999.__
$14,000-$14,999.__.
8.1
8.3
5.3
3.5
1.4
65.4
64.3
50.0
67.1
53.4
26.6
27.4
44.7
29.4
45.2
1.0
.8
.4
.2
.1
7.0
5.1
2.9
2.9
2.0
6.9
5.3
6.3
3.1
4.1
1.39
1.28
1.52
1.41
1.62
2,726
1.831
2, 228
2, 553
2,716
1, 966
1. 428
1. 468
1, 816
1, 675
$15,OOO-$19,999.__
$20,000-$24,999.._
3.1
40. 9
56.0
.5
5.3
1.0
17.7
5.0
2.09
2.82
3.23
4, 459
6. 841
2 132
2 429
6,832
2,115
1,322
1,490
31.7 j 68.3.
$25,000 and over.
Total 2
28. 2 ! 71.
37.0
3.4
1
Includes dentists who had employees totaling less than 0.5 man-years of work. See footlote 1 of table 11 for further explanations.
:
Detail will not necessarily add to total because of rounding.
Source: U. S. Department of Commerce, Office of Business Economics.
J a n u a r y 10.">0
Since the number of employees per dentist increases as net
income increases, it is no surprise to find that dentists' pay
rolls rise as net income rises. In 1948, dentists who earned
up to $1,000 net income had an average pay roll of but $87;
dentists who netted $20,000-$24,999 had an average pay roll
of $6,841. The mean salaries and wages received by all
dental employees, professional as well as nonprofessional,
varied from $796 per employee for dentists who netted
$0-$999 to $2,429 for dentists in the $20,000-$24,999 income
bracket. (See table 12,)
It can be seen from table 13 that the mean earnings of all
dentists' employees increased from 1944 to 1948 by about
31.7 percent, rising from $1,135 to $1,484 in the 5-year
period.
Table 13.—Mean Earnings of Dentists' Employees,
Selected Years, 1944-48
Item
All employees
1944
$1,135
1945
1946
|
1948
$1,352 | $1,398 I $1,484
Source: U. S. Department of Commerce, Office of Business Economics.
TECHNICAL NOTES
From time to time the National Income Division of the Office of Business Economics has
made various mail surveys in diverse fields of economic activity in order to provide otherwise
unobtainable information needed for compiling its official estimates of national income. One
of the better known series of surveys has been that pertaining primarily to independent
professional practitioners. In the past these questionnaire studies have covered such varied
groups as certified public accountants, chiropodists, chiropractors, dentists, lawyers, nurses,
osteopathic physicians, physicians and surgeons, and veterinarians.
These surveys generally provide valuable byproduct data which furnish an informative
description of the trends in the economic conditions in the various professions. Since such
data have not usually been available from other sources, there has always been a steady
interest in and demand for their publication, especially among the members of the profession's
themselves. In addition, past articles have evoked a wide interest among economists, sociologists, statisticians, educators, vocational counselors, and students.
Because of limited funds, questionnaires in these surveys have generally, but not always,
been addressed only to a sample of the profession. The proportion of usable questionnaires
returned has varied from 10 to 30 percent of the entire mailing. Naturally, this has always
raised a question concerning the extent to which the returns received represented the entire
group sampled.
In the present survey, as in many of the past one?, the characteristics of the persons supplying usable information were compared with those for the entire professional group, insofar
as data were available to do so, and when the results for the returns differed materially from
the control figures, the sample data were adjusted or weighted to make them conform with
expectation. Because of the general paucity of relevant control data, however, such weighting may not be adequate. Nevertheless, it is felt that it generally improves the unweighted
results.
The list of dentists from which the 1949 sample was drawn was that maintained by a commercial mailing list firm. Such lists are sometimes biased in various wTays due to the peculiar,
restricted demands of the clientele of the mailing firm. The list in question, however, was not
deficient in apy observable manner, and seemed to be kept scrupulously up to date. Only in
that it contained a small percentage of dentists who had retired did the list appear to depart
from the claim made for it as including all dentists in active practice. For the purpose? of the
survey, however, this was no real drawback. Indeed, except from the point of view of economy, it would even be preferable if all so-called "retired" dentists were included in the basic
universe, since their replies can be weeded out quite easily if they had no income for any of
the years in question.
The complete list of active dentists consisted of 83,412 names arranged alphabetically
within communities, these in turn being arranged alphabetically within States. A sample
of 27,804 names was selected by drawing every third name on the list. Questionnaires were
mailed to the sample group on April 7, 1949, and all usable responses received before October
1 were included in the final tabulations. The questionnaires were completely anonymous,
and response was on a voluntary basis.
Dentists were asked to give certain basic data such as type of practice, degree and field of
specialization, location of practice, age, etc., as of 1948. In addition, for the period 1944-48,
inclusive, they were asked to give their gross income, costs of practice, net income from independent practice, salary income, number of employees and pay roll, and a few other miscellaneous items.
A total of 2,941 usable returns were received.»representing 11.3 percent of the replies that
would have been received if all active dentists in the sample had supplied information. These
returns represent about 3.8 percent of all active civilian dentists.
Comparative data against which the sample results could be checked were limited to but
three characteristics: (1) Distribution of dentists by size ofs community; (2) distribution of
American Dental Association members by States; and (3 ) distribution of all dentists by
States. It was found that the sample returns agreed quite closely with the size-of-community
distribution of the complete mailing firm list, and consequently no adjustments were judged
necessary on this score.
The proportion of returns from ADA members (92.8 percent), however, was considerably
in excess of the proportion estimated from ADA sources (81.4 percent). (Similar appreciable
oyerresponse from ADA members was found in the 1938 survey, but not in the 1912 survey.;
Since it was known that the average income of ADA members was approximately double
that of nonmembers, it was decided to adjust the proportion of returns by membership,
status. Although data were available on membership by States, the actual weighting was
carried out by regions because of the complete lack of non-ADA returns for a number of the
smaller States.
In 1948 the mean net income of all dentists who were ADA members was $7,503; of nonmembers, $4,183. The median net income of ADA members was $6,424; of nonmembers.
$3,183. For independent dentists alone (i. e., excluding major salaried dentists), the differences were even larger: ADA mean, $7,662; non-ADA mean, $3,907; ADA median, $6,619;
non-ADA median, $2,964.
Although the sample distribution of the proportion of dentists by States did not differ
markedly from that for all dentists (as jjrovided by the complete mailing list"), there seemed
to be enough disparity to justify weighting the returns on this score as well, and this was
done after the ADA weighting. By and large, the Western and Central States tended toward
over-response, whereas the Southeast and New England tended toward under-response.
The over-all net effect of the above adjustments, due chiefly to weighting for ADA membership, was to reduce the unweighted averages. For all dentists the mean net income after
weighting ($6,912) was 5 percent less than before weighting ($7,274). The- median net income
after weighting ($5,888) was 6 percent less than before weighting ($6,268).
By Clement Winston and Mabel A. Smith
Income Sensitivity of
Consumption Expenditures
the responses
L.N the January 1945 issue of this
of the various categories of consumption expenditures to
SURVEY,
fluctuations in income were studied. Goods and services
purchased by consumers were classified by considering how
much, on the average, purchases of specific items changed
corresponding to movements in disposable personal income.
The results aroused much interest, and numerous requests
have been received to bring the analysis up to date.
In view of the changes in the expenditure and income
series under the comprehensive revisions of the National
Income and Product statistics several years ago, the basic
relationships have been recomputed.1 The new results,
which in the main are in agreement with those obtained
previously, are presented here, along with a discussion of the
postwar behavior of the different types of consumer
expenditures.
The measure of sensitivity
Sensitivity to income changes of the expenditure for a
commodity or service is measured by a coefficient which is
derived by correlating dollar expenditures during the years
1929-40 with disposable personal income and a trend factor.
The coefficient expresses the average percent by which
expenditure varied, in the base period, corresponding to a
one percent change in disposable income—holding constant
the effect of trend.
If the coefficient for a specified commodity or service is
less than 1, this indicates that changes in expenditure for the
item were proportionately smaller on the average than the
changes in aggregate disposable personal income. A coefficient greater than 1 implies that fluctuations in income were
associated with relatively larger fluctuations in outlays for
the corresponding good or service. For example, the consumption of luxuries increased and fell off more sharply than
income, and hence these goods have sensitivity coefficients
greater than 1. In contrast, expenditures on certain basic
necessities were much more stable than income, and these
items accordingly have coefficients much less than 1.
It should be borne in mind, however, that such a coefficient
may be altered when relevant factors other than income are
introduced explicitly. Although this analysis considers only
the effects of income and a trend factor, clearly other influences can be important in explaining fluctuations in specific
expenditure items. This is particularly true where the rate
A secular growth in the base period was not constant. In
such cases a markedly different value of the sensitivity coefficient might result from a more extensive analysis than
could be undertaken for the complete break-down of consumption expenditures. It has been necessary to exclude a
number of categories for this reason. An example of an
expenditure item which is not covered in the tables because
the rate of growth was not constant during the years 1929-40
is personal outlays for airline transportation.
1
The revision of the National Income and Product statistics was presented in the National
Income Supplement to the SURVEY OF CURRENT BXTSINESS, July 1947.
N O T E . — M R . WINSTON AND MISS SMITH ARE MEMBERS OF THE BUSINESS STRUCTURE
DIVISION, OFFICE OF BUSINESS ECONOMICS.
867406—50
3
Categories have also been omitted where income is largely
irrelevant to the size of expenditure, in which case the sensitivity coefficient is subject to a considerable margin of error.
Standard clothing issued to military personnel is an example
of a category for which no cyclical association with aggregate
disposable income would be expected. Also, several items
have been excluded because the data do not permit the
derivation 2of a sufficiently dependable measure of the income
sensitivity.
The distinction between the income-sensitivity of expenditures discussed in this article and the income-elasticity
of demand which is frequently employed should not be overlooked. The difference arises primarily through the use of
dollars expended rather than quantities purchased. The
relation between the movement of prices of a specific commodity or service and the changes in over-all prices reflected
in disposable personal income will influence the degree of
response of dollar outlays to changes in income, whereas
income-elasticity measures the effect of income on the demand for a commodity when its price is held constant.
Moreover, technical problems exist in estimating demand
relationships from aggregate expenditure data over time.
For example, there may be situations where supply considerations are the governing factor in determining the amount
Chart 1.—Personal Consumption Expenditures, Classified by lSensitivity to Changes in Disposable Personal
Income
(RATIO SCALE)
BILLIONS OF DOLLARS
100
90
80
70
ABOVE-AVERAGE
SENSITIVITY^
I I 1 1 I 1 I 1 1
1929 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49
U. S. DEPARTMENT OF COMMERCE, OFFICE OF BUSINESS ECONOMICS
49-404
1
The sensitivity groups shown omit certain items which account for only about 3 percent
of 2total expenditures.
Includes all items with income-sensitivity coefficients between 0.7 and 1.0.
*4 Includes all items with income-sensitivity coefficients less than 0.7.
Includes all items with income-sensitivity coefficients of 1.0 and over.
Source of data: U. S. Department of Commerce, Office of Business Economics.
2
In the great majority of excluded cases, the coefficient of partial determination of expenditure by income was found to be less than 0. 7. A few of the categories included also have
coefficients less than 0.7, and such cases are indicated in the table.
17
SURVEY OF CURRENT BUSINESS
18
purchased. In spite of these reservations, a classification
of consumer expenditures by sensitivity is useful in summarizing how the demand for
these goods and services may
be expected to vary with C3rclical changes in income.
By methods discussed in the appendix to this article a
sensitivity coefficient was obtained for each of the expenditure items. For total consumption expenditures on goods
and services, the sensitivity measure is 0.86. That is to
say, other things being equal, a change of 10 percent in disposable personal income during the base period was associated on the average with a change of about 8% percent in
total consumption expenditures.
For presentation purposes all expenditure items have been
grouped about this over-all or average sensitivity figure.
All items with coefficients that fall in the interval 0.7 to 1.0
are considered as having average sensitivity to income,
those under 0.7 as below average, and those with coefficients
equal to or greater than unity as above average.
January 1950
The groupings are, of course, arbitrary, but they serve the
purpose of separating the expenditure items in a simple
manner for analytical purposes. For specific applications,
however, more detail than these broad classifications provide
may be desirable. Consequently, the value of the sensitivity
coefficient for each of the items has been listed in table 1,
where the durable and nondurable goods and service items
have been arrayed according to the responsiveness of expenditures to changes in elisposable personal income.
Durable goods highly
sensitive
It is immediately evident from the table that the durablegoods groups tend to have a high income sensitivity. For
example, a change of 10 percent in consumer income is associated, on the average, with a change of 20 percent in expenditures for automobiles, and with 25 percent for radios, phonographs, and other musical instruments. Of the 22 durable-
Table 1.—Personal Consumption Expenditure Items Classified According to Sensitivity to Changes in Disposable Personal Income 1
Average sensitivity
Above-average sensitivity
Durable goods
IX 5f
IX 51i
IX 5i
vin ta
VIII 4
II 12
V5
VII 2
V1
V9
V4
V2
IX 5c
V7
V8
VT 18
VIII l b
IX 5a
VIII lc
V3
Boats and pleasure aircraft
Radios, phonographs, parts, and records. _.
Pianos and other musical instruments- _
New cars and net purchases of used cars
Luggage
Jewelry and watches
Cooking and portable heating equipment- _
Tools
Furniture
Writing equipment
Miscellaneous electrical appliances except
radios
Floor coverings
Wheel goods, durable toys, and sport
equipment
Durable house furnishings, n. e. c
Products of custom establishments, n. e. c . Monuments and tombstones
Tires and tubes
Books and maps
Automobile parts and accessories
Refrigerators, and washing and sewing machines
IX 6
V 18
V14
113
I 2b
Purchased meals and beverages—dining
and buffet cars
Flowers, seeds, and potted plants
Stationery and writing supplies
Semidurable house furnishings
Clothing and accessories except footwear
Purchased meals and beverages—hotels
Services
IX lj
IX lb
115
II 13
VIII 3a
IX 5k
VIII 3b
VIII 3f
IX 4g
V 26
VIII 2b
117
VI 15
VI 9
V12
1111
116
IX 4a
V24
1X51
IV 4
IX 5j
VIII Id
Ticket brokers' mark-up on admissions
Admissions—legitimate theaters and opera-.
Fur storage and repair
Watch, clock, and jewelry repairs
Steam railway (excluding commutation)
fares
Photo developing and printing
Sleeping and parlor car—fares and tips
Baggage transfer, carriage, storage, and
excess charges
Private flying operations
Domestic service
Taxicab—fares and tips
Dressmakers and seamstresses (not in
shops)—charges
Net payments—mutual accidents and sick
benefit associations
Practical nurses and mid wives—services
Rug, drapery, and mattress cleaning and
repair
Miscellaneous personal services
Cleaning, dyeing, pressing, alteration, storage, and repair of garments, n. e. c. (in
shops)
Billiard parlors and bowling alleys
Express charges
Photographic studios
Housing—transient hotels and tourist
cabins
Radio repair
Automobile repair, greasing, washing, parking, storage, and rental
3.1
2.5
2.3
2.0
1.9
1.8
1.7
1.7
1.6
1.6
1.4
1.4
1.4
1.3
1.3
1.3
1.2
1.2
1.2
VI 2
Nondurable goods
II
I2f
I 2a
IX 5d
V 16
II 1
14
III1
13
IX 4b
1*6 II VI 6
1.4 | IX 4c
1.1 || IX 5g
III 4
1.1
IX Id
1.0
VI 10
1.3
1.3
1.3
1.2
1.2
1.2
1.2
1.2
1.2
1.2
Food purchased for off-premises consumption
Purchased meals and beverages—tips
Purchased meals and beverages—retail,
service, and amusement establishments
Nondurable toys and sport supplies
Cleaning and polishing preparations
Shoes and other footwear
Food produced and consumed on farms
Toilet articles and preparations
Food furnished government and commercial employees; and withdrawn by nonfarm proprietors
21.0
2
1.0
2
3
1.0
1.0
.9
.8
.8
.8
Services
VII 18
VI 14
1.4
1.3
1.3
3 0.7
Nondurable goods
V13
2.1
41.9
1.6
1.5
China, glassware, tableware, and utensils
Ophthalmic products and orthopedic appliances
VI 5
X3
VI 4
V 22
118
V27
IX 5o
VII 16
X 4
IX 9
IX 8a
III 3
119
IX lc
I X 4e
X5
VI 3
112
IX la
XI 2
III 2
IX li
VI 8
Care of electrical equipment (except radios)
and of stoves
Personal business services, n. e. c
Accident and health insurance—net payments
Dancing, riding, shooting, skating, and
swimming places
Chiropractors—services
Amusement devices and parks
Boat and bicycle rental, storage, and repair..
Baths and masseurs
Admissions—professional baseball
Miscellaneous curative and healing professions—services
Osteopathic physicians—services
Commercial, business, and trade schoolsfees
Dentists—services
Telegraph, cable, and wireless
Laundering in establishments
Fire and theft insurance on personal property—net payments
Veterinary service and purchase of pets
Classified advertisements
Correspondence schools—fees
Commercial amusements, n. e. c
Athletic and social clubs—dues and fees
Beauty parlor services
Costume and dress suit rental
Entertainments of nonprofit organizations,
except athletics
Golf instruction, club rental, and caddy
fees,.
Other instruction (except athletics)—fees
Physicians—services
Shoe cleaning and repair
Admissions—motion-picture theaters
Social welfare and foreign relief agencies
Barber shop services
Admissions—other
amateur
spectator
sports
Private duty trained nurses—services
2
2
2
1.0
1.0
1.0
21.0
.9
.9
.9
.9
.9
.8
V17
VII
V 19a
15
VIII le
IX 5b
I2d
Miscellaneous household paper products
Drug preparations and sundries
Purchased fuel (except gas) and ice
Tobacco products and smoking supplies
Gasoline and oil
Magazines, newspapers, and sheet music
Purchased meals and beverages—schools
and school fraternities
2.7
.6
.6
.5
.5
.5
.5
Services
VIII 3c Intercity bus—fares
VI 7
Chiropodists and podiatrists—services.
IX If
Admissions—professional hockey
Funeral and burial services
VI 16
VII 15 Interest on personal debt
Foundation expenditures for education and
X 6
research
XI 4
Foundation expenditures for religious and
welfare activities
VIII lg Automobile insurance—net payments
Upholstery and furniture repair
V 11
VII 12 Services furnished without payment by
financial intermediaries except insurance
companies
Net purchases from second-hand furniture
V10
and antique dealers
Housing—clubs, schools, and institutions
IV 5
Owner-occupied nonfarm dwellings—space
IV 1
rental value
__.
V25
Moving expenses and warehousing
Trust services of banks
_.
VII 8
VIII 2a Street and electric railway and local b u s fares
Tenant-occupied nonfarm dwellings—space
IV 2
rent
VI 17
Cemeteries and crematories
VIII 2c Steam railway—commutation fares
_.
Rental value of farm houses
IV 3
V21
Telephone
XI 1
Religious bodies
VII 14 Legal services
VI 11
Privately controlled hospitals and sanitariums—services
V23
Postage
XI 3
Museums and libraries
V28
Miscellaneous household operation servicesWater
V 20c
VII 13a Expense of handling life insurance—life
insurance companies
V 20 b
Gas
V20a
Electricity
1.1
1.0
1.0
i The classification is based on the relationship of personal consumption expenditures for
each item with disposable personal income and a time factor for the period 1929-40. The
figures in the S column indicate the percent change which is associated with a 1 percent change
in disposable personal income; for example, an increase of 1 percent in disposable personal
income is associated with an increase of 1.8 percent in the expenditures on jewelry and watches,
all other fa ctors being equal.
Durable goods
Durable goods
Nondurable goods
I 2c
Below average sensitivity
2 Value between 0.95 and 1.00.
3 Value between 0.65 and .70.
4 Coefficient of partial determination less than 0.7.
Source: U. S. Department of Commerce, Office of Business Economics.
3.7
3
.6
.6
.6
.6
.6
.5
.5
4.5
4.5
.5
.5
4.5
.5
.5
.4
4.4
4.3
.3
.3
4.3
.3
.2
.2
4.2
4.2
SURVEY OF CURRENT BUSINESS
January 1950
19
Table 2.—Personal Consumption Expenditures Classified by Sensitivity to Changes in Disposable Personal Income
[Millions of dollars]
Above-average sensitivity2
Year
Durable
goods
Below-average sensitivity 4
Average se
Nondur- \
able goods | Services
Durable
goods
Total
Nondurable goods
Services
Total
Durable
goods
Nondurable goods
Services
1929..
1930_3931__
1932-^
1933-_
21, 544
17,870
14, 244
9,859
9,249
8, 603
6,700
5,023
3,195
3,047
9,061
7,833
6,588
4,740
4,471
3,880
3,337
2,633
1,924
1,731
26,676
24,585
20,712
16,120
15,711
131
133
117
93
92
21,903
19,918
16, 520
12,860
12, 774
4,642
4, 534
4,075
3,167
2,845
26,585
25, 439
23,796
21,337
19, 582
442
429
406
364
6,282
5, 848
5,376
4,832
4,712
19, 675
19,149
17,991
16,099
14,506
19341935.
1936-.
1937-.
1938..
11,241
12, 748
14,826
15,949
14,392
3,727
4,620
5,778
6,325
5,125
5,522
6,008
6, 627
6,888
6,728 1
1,992
2,120
2,421
2, 736
2,539
18,904
21,033
23,745
25, 686
24, 613
124
131
140
165
157
15.692
17^604
19,962
21,596
20, 655
3,088
3,298
3, 643
3, 925
3,801
19, 990
20, 587
21,832
23, 204
23,394
404
407
456
515
472
5,204
5,421
5,938
6,368
6,308
14,382
14,759
15,438
16,321
16, 614
1939. _.
1940-_.
19421943
16,126
17,771
21,106
20,618
23,701
6,082
7,150
8,891
6,131
5,892
7,296
7.688
8;962
10,625
13,108
2, 748
2,933
3, 253
3, 862
4, 701
25,113
26, 916
31,364
38, 719
44,393
172
187
226
255
301
21,022
22,501 i
26, 492
32, 990
37, 844
3,919
4, 228
4, 646
5, 474
6,248
24,124
25, 230
27, 349
28, 680
29,917
475
517
633
674
631
6,578
6,989
7,836
7,832
7,827
17,071
17, 724
18,880
20,174
21,459
1944._
1945-_
1946 _
1947__
1948 _
25, 819
29,234
40,434
47, 324
49,944
6,110
7,291
14, 757
20,168
21, 599
14,513
16, 270
19,164
5,196
5, 673
6,513
7, 276
7,485
48, 958
53,762
63, 629
71,268
74, 974
323
340
385
386
416
41, 633
46, 017
54,652
61,837
65,142
7,002
7,405
8,592
9, 045
9,416
31, 529
33,963
38, 983
43,717
48, 584
670
841
1,339
1,442
1,504
7,911
8,956
11,295
13,028
14,498
22, 948
24,166
26,349
29,247
32, 582
19,880 I
20,860 I
!
I
I
i
!
1 The sensitivity groups shown omit pertain items which account for only about 3 percent of totn! <
Includes all items with income-sensitivity coefficients of 1.0 and over.
s4 Includes all items with income-sensitivity coefficients between 0.7 and 1.0.
Includes all items with income-sensitivity cocilicients less than 0.7.
Source: U. S. Department of Commerce, Office of Business P^conomics.
2
goods groups only 2 show coefficients which are less than 1,
and for the majority of them the sensitivity measure is 1.4 or
higher.
Expenditures for the durables are, in general, more readily postponable than most items in the consumer budget.
As a result, purchases of hard goods tend to fall more rapidly
than income during the downswing in the business cycle and
rise at a more rapid rate on the upswing. Nevertheless,
even in this category there are two groups with relatively
low sensitivity to income, namely, ophthalmic products and
orthopedic appliances, and china, glassware, tableware, and
utensils. These groups are generally less readily deferred
than is the case with the other durable commodities. As a
result, such expenditures fluctuate less over the course of
the business cycle.
At first glance it appears from the table that among the
nondurable goods and services there is not the same tendency
toward concentration into one sensitivity group as shown by
the durables. However, this is primarily the effect of the
kind of detail shown. When the relative importance of the
groups, based on dollar expenditures, is considered, it is
found that the nondurable outlays fall predominantly in the
middle sensitivity group, while the major service expenditures
are of low sensitivity.
For example, nondurable goods with sensitivities between
0.7 and 1.0 represented two-thirds of dollar expenditures on
nondurables in 1948 (see table 2). For the services about
60 percent of the expenditures are for items listed in the
below-average sensitivity class, most of the remainder falling
in the middle group. In contrast, more than 90 percent of
all durable goods in terms of dollar outlays are represented
in the upper sensitivity class.
These results are reflected in the behavior of the totals for
durables, nondurables and services. The over-all coefficients
for durable and nondurable goods and for services are 1.6,
0.9, and 0.6, respectively. In general, therefore, the durable
goods are above average in sensitivity, the nondurables are
average, and the services are below average. Nevertheless,
it is important to note that substantial amounts spent in the
nondurable and service categories are found outside of the
representative sensitivity class.
Among the nondurables, the groups which can be definitely
allocated to the upper sensitivity class include such minor
items as flowers, seeds and potted plants, and stationery and
writing supplies. The more important nondurable groups
found in this class, namely, semidurable housefurnishings,
clothing and accessories (except footwear), and meals and
beverages purchased at hotels, have coefficients close to 1—
the lower borderline of the class.
Although a few food items occur in the above average
sensitivity class, most of the components of food—97 percent
of the total dollar expended-—fall in the average sensitivity
class. The average for the entire food group is nearly 1,
indicating that food expenditures and income tend to change
at about the same rate. This results from the offsetting
effects of movements in quantities and prices. Over the
cycle, the quantity of food consumed is more stable than
income, while food prices are less stable.
A number of important nondurables are found to have low
sensitivity. Among these are tobacco products and smoking supplies, gasoline and oil, fuel and ice, and drug preparations and sundries. For all these groups the sensitivity
coefficient falls between 0.5 and 0.6. On the average the
percent change in expenditures for these items was not much
more than half of that shown by income.
Wide range in services
Among the services a considerable number of groups
possess income sensitivities far in excess of the low average
for the category as a whole. As seen in table 1, there are
23 items in the first sensitivity class with indexes ranging
from about 1 for automobile and radio repair to more than
2 for ticket brokers' mark-up on admissions.
The most important service groups with above average
sensitivity from the standpoint of dollar volume are domestic
service; services connected with clothing, such as cleaning
and pressing of garments, fur storage and repair, and dressmaker and seamstress charges; and various transportation
items including steam railway, sleeping and parlor car fares,
baggage transfer charges, and taxicab fares. Auto repair is
listed in this group, but as noted above, it is a borderline
case.
A large number of services are also found in the average
sensitivity class. Outstanding among these are medical
services, accident and health insurance, and a large part of the
20
SURVEY OF CURRENT BUSINESS
recreation group. These health and recreation expenditures
account for 60 percent of the total service expenditures in
the average sensitivity class.
In chart 1, there are presented the annual values of personal
consumption expenditures for the three sensitivity groups
for the years 1929-49. The difference in the cyclical behavior for these three groups is immediately apparent.
From 1929 to 1933 expenditures for goods and services
in the upper sensitivity class declined by 57 percent, compared to 41 percent for the average and 26 percent for the
low-sensitivity items. Similarly, on the upswing from 1933
to 1940, the increases for the three groups were 92, 71, and
29 percent, respectively.
Changes in the war and postwar years
The expenditure behavior in the three sensitivity classes diverged during and after the war from the patterns traced
in the prewar years. The war period was marked by high
income and shortages, and the factors that had previously
operated to influence expenditures were temporarily superseded by conditions in which prices and distribution were
controlled and spending tended to be a function of supply.
In the postwar years of sustained capacity operations, the
increases in income and expenditures likewise were not the
normal cyclical changes characteristic of the base period,
but reflected unusually large price movements following the
wartime distortions in the economy. As a result, after 1940
the sensitivity measures did not have their earlier significance, although in the current period the peacetime cyclical
movements are beginning to merge.
During the war, as is well known, the entire pattern of consumer purchasing was drastically altered. The high sensitivity group, consisting largely of the durables showed a rise
in expenditures much less than would be expected on the
basis of the increase in income. On the other hand, expenditures were about in line with the historical pattern in both
the average sensitivity class, where food, medical care, and
recreation were important, and the low sensitivity group,
consisting primarily of services.
The differential behavior of these groups was primarily a
reflection of supply conditions. Because of the concentration of effort in producing war products, consumer goods and
services were generally in short supply relative to available
income, and a lower proportion of income could be spent,
although total expenditures continued to rise. The impact
of the curtailment of civilian production fell largely on the
durables.
When the war ended and durable goods became once more
available, this was reflected in the accelerated rise in expenditures for items in the high sensitivity category. At the same
time, however, expenditures in the other two groups moved
up fairly rapidly. From 1945 to 1947 expenditures in the top
sensitivity bracket increased 62 percent, while in the average
and lower groups the increase was about a third.
Even by 1949 the movements of the three groups of expenditures were not exhibiting their historical behavior in relation
to changes in income. This may be evidence that the postwar readjustments, both of spending habits and of price
relationships, had not been completed.
January 1950
The continued rise during 1949 in expenditures for the low
sensitivity group represents in part the aftermath of wartime
restrictions on a number of categories. Rent has continued
to rise from its relatively low levels, expenditures for gasoline
and oil reflect the rapid increase in passenger car mileage, and
interest on personal debt has moved upward with consumer
credit.
Whereas in 1949 expenditures in the average sensitivity
class declined as income leveled off, those in the high sensitivity group increased moderately. The remaining backlog
of demand for passenger cars and for household appliances—
together with the growth of the television industry—has had
much to do with the behavior of the latter group.
It should be borne in mind that the three sensitivity groups
cover wide ranges, and that there are considerable differences
in behavior among the components of these groups. The
individual categories listed, of course, are themselves composites of expenditure items which may not show similar
patterns.3
In interpreting the results presented, it should also be
remembered that the postwar period differs markedly from
the period on which the coefficients are based. Disposable
personal income in the early years varied from $45 to $82
billion. The present level of income, however, is over $190
billion. Inferences drawn from the observed relationships
at points so far beyond the range of income and after so long
an intervening time are subject to a considerable margin of
error.
Consequently, in attempting to apply the procedures outlined in this study for the purpose of appraising consumption
possibilities for the future, it is particularly important to
employ the measure described in conjunction with a careful
analysis of changed market conditions. The results of the
study of income sensitivities can best be applied to a particular field of production or distribution when supported by
a full knowledge of that field, its relation to other industrial
segments, and the special conditions existing in the economy.
3 An extreme example of the mixing of components with dissimilar coefficients occurs in the
case of interest on personal debt. This is the sum of interest on consumer loans and interest
on insurance loans. The latter was at its highest point during the early thirties, while the
former moved cyclically and reached a bottom in that period.
APPENDIX
To derive a measure of the sensitivity of expenditures to income it is necessary to evaluate
the net effects on expenditure of changes in income over these years. This is accomplished
by adjusting for the effect of other forces which, in addition to income, may influence the
relationship.
The method employed for this purpose was that of multiple correlation, relating consumption expenditures in the base period 1929-40 for each of the groups to disposable personal
income and a time factor allowing for a constant rate of growth. The generalt form of the
equation used in determining the income sensitivity coefficients is: C=AY*B where C—
consumption expenditures, Y=disposable personal income, t= time, and A, s, and B are constants derived from the data by least squares procedures. From this form of regression the
exponent s is taken as the approximate measure of the income sensitivity for each expenditure
item.
The time factor has been introduced as an aid in accounting for the variation in expenditures not explained by income alone. This procedure is based on the assumption that the
resultant of all forces other than income on expenditure tends to be exhibited as a relatively
smooth time trend. The assumption does not always hold; moreover, the sensitivity coefficient may change as additional factors are explicitly introduced. In most cases, however,
it is felt that the coefficients would be little altered by a more extended analysis, since in the
great majority of the categories, income and time factors alone yield high coefficients of partial
determination. Where the trend is important in accounting for variations in expenditure,
it is desirable where possible to replace it by the specific factors which it represents, e. g.,
population. However, such an analysis is beyond the scope of this article.
In presenting the expenditure categories by sensitivity to income in table 1, it was decided
to include only those groups for which the analysis in terms of income and time appeared
adequate. For this reason, a number of expenditure items were eliminated. The criteria
of exclusion have been indicated earlier. Generally, these groups account for a very small
portion of total expenditure, and all omitted items together represent about 3 percent of
consumer spending.
In a small number of categories, the income sensitivities shown in the table have standard
errors in excess of 20 percent, corresponding to a coefficient of partial determination less than
0.7. Such cases are indicated in the table.
WlontkL
* BUSINESS STATISTICS
JL HE DATA here are a continuation of the statistics published in the 1949 Statistical Supplement to the SURVEY OF CURRENT BUSINESS.
That volume contains monthly data for the years 1945 to 1948, and monthly averages for earlier years back to 1935 insofar as available; it also
provides a description of each series and references to sources of monthly figures prior to 1945. Series added or revised since publication of the
1949 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 and dollar values 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.
1948
Unless otherwise stated, statistics t h r o u g h
1948 a n d descriptive notes are shown in t h e
1949 Statistical S u p p l e m e n t t o t h e Survey
November
1949
December
January
February
March
April
May
June
July
August
September
October
November
GENERAL BUSINESS INDICATORS
NATIONAL INCOME AND PRODUCT
Seasonally adjusted quarterly totals at annual rates:
National income total
bil of dol
ComneTisfltion of emolovees total
do
"Wci^es and salaries total
do
Private
do
Military
do
Government civilian
do
Supplements to wages and salaries
do
Proprietors' and rental income
total cf do
Business and professionalc71
do
Farm
do
Rental income of Dersons
do
Corporate profits and inventory valuation aditistmeTit total
bil of dol
Corporate profits before tax total
do
Oornnntp Drofits tax liabilitv
do
Corporate profits after tax
do
Tnvontorv valuation adiustment
do
Net interest
do
Gross nations! product tot&l
do
Pprson^il consumption pxnpnditurps total do
T)ura,blp cfoods
do
IsTondnr&blp troods
do
Oross nrivatp domestic investment
do
Producers' durable eouiDment
do
Npt forpicrn invpstment
do
Government purchases of goods and services,
total
bil of dol
T^pdpr^l flpss CJovprnmpnt salps)
do
Sfpfp and lopal
do
"Ffinals* "OisDos&blp Dprsonal income
Pprsonal savins^
do
do
234.3
144 9
139 8
119.6
4.1
16.1
5.0
49.7
24.5
18.5
6.7
226.3
142 5
137.5
117.2
4.1
16.2
5.0
47.8
24.0
17.1
6.7
223.5
141.8
136.5
115.9
4.0
16.6
5.3
46.5
24.1
15.7
6.7
223.5
142.2
136.6
115.7
4.0
16.8
5.6
44.5
24.2
13.8
6.5
35.7
34.5
13.6
20.9
1 2
4.1
31.8
29.4
11.5
17.9
2.3
4.2
30.9
26.4
10.6
15.8
4.5
4.3
32.4
28.9
11.4
17.5
3 5
4.3
270.3
180 9
22.9
103 3
54 8
48 0
17 9
21 2
9 0
1.0
263.5
178.6
23.1
100.1
55 4
41.6
16.8
21.2
3.6
1.0
259.6
178.9
23.8
99.3
55 9
35.4
16 4
20.4
—1 4
1.2
256.3
178. 5
25.8
96.5
56 2
35.0
17.3
20.1
—2.4
-.8
40.3
23 4
16.9
42.3
25 2
17 0
44.0
26.2
17 8
43.6
25.5
18 1
216 6
20 4
196 2
15.3
213 7
18 8
194 9
16.3
212.5
18.7
193.8
14.8
210. 6
18 8
191.9
13.3
PERSONAL INCOME, BY SOURCE
Seasonally adjusted, at annual rates:
Total personal income_ _
.. . . bil. of dol_
Wage and salary receipts, total
do .__
Employer disbursements, total _ __ ..do
Commodity-producing industries
do
"Distributive industries
_ do__
Service industries
do
Government
do
Less employee contributions for social insurance
_
bil. of dol
Other labor income
do
Proprietors' and rental income
_ -do
Personal interest income and dividends.-do
Total transfer payments
do
Total nonagricultural income
do _
216.6
137.5
139.7
62.7
39.8
16.9
20.3
217.0
137.1
139.4
62.3
40.0
16.9
20.2
215.7
136.6
138.9
61.4
40.2
17.0
20.3
212.9
135.0
137.3
60.6
39.5
16.9
20.3
212.4
133.5
135.8
58.9
39.4
17.1
20.4
212.5
134.7
136.8
58.6
40.5
17.1
20.6
213.1
135.0
137.2
58.3
41.1
17.3
20.5
211.9
133.9
136.2
58.1
40.3
17.1
20.7
209.7
134.2
136.4
57.8
40.5
17.2
20.9
211.4
134.4
136.6
58.2
40.5
17.1
20.8
210.5
134.8
137.0
58.5
40.4
17.1
21.0
' 209.0
" 133. 6
•• 135. 8
r
56.9
'40.0
17.4
'21.5
209.7
133.6
135.8
57.2
39.3
17.4
21.9
2.2
2.0
49.8
16.9
10.4
2.3
2.0
50.3
16.9
10.7
2.3
2.0
49.0
17.0
11.1
2.3
2.1
47.2
17.1
11.5
2.3
2.1
47.3
17.1
12.4
2.1
2.1
46.3
17.2
12.2
2.2
2.1
46.7
17.3
12.0
2.3
2.2
46.5
17.2
12.1
2.2
2.1
44.2
17.1
12.1
2.2
2.2
45.2
17.3
12.3
2.2
2.2
43.8
17.4
12.3
2.2
2.2
'•44.0
17.5
11.7
2.2
2.3
44.1
17.6
12.1
192.8
193.6
192.6
191.7
191.4
192.3
192. 6
191.2
192.2
-•191.2
191.9
NEW PLANT AND EQUIPMENT
EXPENDITURES
All industries, quarterly total
Manufacturing
Mining
Railroad
Other transportation
Electric and gas utilities
Commercial and miscellaneous
r
mil. of dol_.
do
do
do
do
<!o
do
•
_ __
5,410
2,320
220
410
170
850
1,440
4,460
1,850
190
360
130
680
1,260
191.5
193.1
1,880
190
4,660
380
140
780
1,290
1,690
180
4,360
310
130
790
1,260
Revised.
d1 Includes inventory valuation adjustment.
§ Personal saving is excess of disposable income over personal consumption expenditures shown as a component of gross national product above.
SURVEY OF CURRENT BUSINESS
S-2
Unless otherwise stated, statistics through
1948 and descriptive notes are shown in the
1949 Statistical Supplement to the Survey
1948
November
January 1950
1949
December
January
February
March
April
May
June
July
August
September
October
GENERAL BUSINESS INDICATORS—Continued
FARM INCOME AND MARKETINGS
Cash receipts from farming, including Government
payments, total t
..mil. of doL.
Farm marketings and CCC loans, total
do
Crops
do....
Livestock and products, total
_do
Dairy products
do
Meat animals
do
Poultry and eggs
do
Indexes of cash receipts from marketings and CCC
loans, unadjusted:J
All commodities
1935-39=100..
Crops
do....
Livestock and products
do
Indexes of volume of farm marketings, unadjusted::):.
All commodities
1935-39=100._
Crops
do.
Livestock and products
_.
do.
INDUSTRIAL PRODUCTION
Federal Reserve Index
Unadjusted, combined index
1935-39=100.
Manufactures
Durable manufactures
Iron and steel
Lumber and products
Furniture
Lumber
Machinery.
Nonferrous metals and products
Fabricating
Smelting and refining
Stone, clay, and glass products
Cement
Clay products.
Glass containers
Transportation equipment.
Automobiles (incl. parts)
Nondurable manufactures
Alcoholic beverages..
Chemicals products
Industrial chemicals
Leather and products
Leather tanning..
Shoes
Manufactured food products
Dairy products
Meat packing
Processed fruits and vegetables
Paper and products
Paper and pulp
Petroleum and coal products
Coke
Printing and publishing
Rubber products
Textiles and products. _
Cotton consumption
Rayon deliveries..
Wool textiles
Tobacco products.
Minerals
Fuels
Anthracite
Bituminous coal
Crude petroleum.
Metals
Adjusted, combined index cf.
Manufactures
Durable manufactures.
Lumber and products
Lumber
Nonferrous metals
Smelting and refining
Stone, clay, and glass products.
Cement
„
Clay products
Glass containers..
3,225
3,215
1,663
1,552
281
931
328
2,706
2,696
1,304
1,392
280
789
312
2,383
2,367
1,080
1,287
305
752
223
1,783
1,768
689
1,079
283
589
200
1,973
1,946
677
1,269
327
692
242
1,850
1,823
592
1,231
326
623
265
1,944
1,915
639
1,276
361
627
259
2,053
2,036
757
1,279
359
647
239
2,177
2,168
582
410
406
457
367
356
378
340
266
241
285
293
237
335
275
209
325
224
337
176
213
149
157
182
138
145
160
135
113
103
120
120
94
139
114
81
140
1,196
2,417
2,411
1,162
1,249
347
592
233
328
661
245
2,601
1,327
1,274
304
705
250
306
265
338
326
340
316
363
407
330
465
336
'471
r
621
357
123
89
149
132
110
148
141
145
138
162
190
140
168
209
138
-202
' 270
150
169
972
' 3,139
r
3,127
r
1, 773
' 1,354
298
'787
255
195
190
187
185
181
177
174
170
163
173
178
202
197
195
193
190
183
179
176
169
''181
188
do..
do..
do.
do.
dodo,
do_
do_.
do_
do..
do_do_.
do..
do..
...do..
229
224
142
169
128
276
188
192
176
208
211
178
191
238
203
229
223
132
168
113
277
184
185
183
199
193
178
171
246
225
228
118
154
100
268
183
182
186
192
169
166
185
244
209
223
232
115
154
221
233
124
150
110
252
183
172
210
185
171
163
178
240
204
212
219
126
144
116
240
167
151
209
186
202
160
179
235
203
202
204
129
139
124
232
145
123
200
190
206
156
202
220
184
195
177
129
139
124
225
133
108
192
188
209
151
204
240
211
186
156
121
136
113
217
127
105
179
187
209
140
214
249
225
194
178
134
148
126
200
179
141
159
132
224
157
150
175
' 191
219
' 150
199
252
'231
' 177
-103
- 139
166
- 125
- 226
164
162
167
192
211
154
210
do..
do.
do.
do..
do..
do..
do..
do..
do..
do..
do..
179
212
258
449
104
103
104
161
95
173
129
171
174
258
450
99
102
97
153
92
181
111
170
153
255
447
108
104
111
148
92
179
90
168
159
251
435
116
115
117
146
104
149
164
173
248
427
113
99
123
145
124
141
85
159
163
239
417
106
96
113
148
160
134
94
160
182
233
406
101
95
105
156
203
138
102
161
190
230
404
104
95
110
165
223
139
133
156
188
225
392
94
80
104
172
222
140
181
170
179
226
388
110
90
123
- 189
178
179
237
' 405
114
197
134
'287
-159
145
-"265
181
180
244
414
108
98
115
178
121
155
191
do..
do-.
do.do..
do-.
do..
do- do..
do..
do_.
do_.
170
163
227
183
163
203
164
122
322
162
173
153
149
231
184
158
200
156
114
317
151
136
163
158
228
184
149
193
160
123
313
150
158
158
154
221
185
152
188
157
125
305
143
153
151
148
213
178
156
182
142
120
275
122
163
146
142
209
182
157
177
129
111
240
112
153
144
139
207
175
158
178
123
103
214
118
170
143
138
202
159
148
178
126
105
217
120
179
128
124
198
139
133
175
120
87
238
109
152
155
147
203
146
143
178
140
111
259
134
184
169
160
-208
145
159
176
- 155
127
- 293
139
185
176
168
198
49
169
- 192
- 169
134
-318
161
171
do..
do..
do..
do..
do..
do..
160
167
116
155
177
114
151
164
103
145
177
77
143
156
88
145
167
68
143
155
74
142
168
76
131
137
52
93
163
93
146
148
88
144
156
134
148
149
105
144
155
142
137
135
78
104
153
150
128
126
93
80
147
- 140
134
134
82
108
149
135
123
122
50
60
154
' 128
- 112
' 121
118
31
r
157
-61
do._.
262
185
180
200
187
168
166
179
241
'216
141
128
174
' 190
207
- 149
212
-246
225
238
216
do.-
195
192
191
189
184
179
174
169
161
170
do.-
201
199
198
196
193
184
179
176
168
' 178
184
-•176
229
145
133
187
175
203
195
172
189
231
143
131
184
183
205
212
173
184
227
129
117
183
186
204
208
180
189
225
123
107
185
200
202
222
176
184
223
129
119
183
210
195
208
171
178
212
126
118
167
209
189
213
164
179
201
126
120
145
200
185
196
157
189
194
123
114
133
193
186
195
152
206
185
115
' 193
126
115
199
133
119
157
175
' 183
189
145
195
175
-133
' 116
- 164
' 167
do
__do
do
do
do
.do
_do
do
..do
104
127
180
185
190
140
223
141
174
183
183
' 145
204
161
158
* 167
p 187
206
P 153
195
P206
P 174
P
P
178
169
P246
419
p 100
p 100
160
97
172
P
P105
177
168
166
183
182
146
204
p 182
191
P147
193
173
178
173
175
172
161
162
160
154
177
165
Nondurable manufactures
do
P176
217
197
181
177
187
174
174
164
169
Alcoholic beverages
_
do
165
172
167
185
257
245
257
234
250
237
257
236
233
Chemical products
.do
' 230
P243
228
240
102
113
100
101
113
106
108
115
105
Leather and products
do
96
111
108
99
100
99
103
95
107
96
103
100
97
Leather tanning
.do
84
91
97
159
162
158
163
162
162
160
166
165
166
Manufactured food products...
.do
*>157
161
166
144
150
144
153
145
154
144
151
151
Dairy products
do
151
152
146
147
155
153
154
137
156
145
152
158
141
Meat packing
do
154
150
153
155
140
154
142
156
136
155
138
-136
173
Processed fruits and vegetables
do
P
H
4
' 151
139
148
169
151
153
144
158
146
163
169
143
Paper and products
do
129
155
176
177
163 I
147
150
139
154
141
158
160
137
Paper and pulp
__.do
125
148
168
168
' Revised.
v Preliminary.
JData have been revised beginning January 1947 to incorporate revisions in reports on production and sales of farm products; revised figures for January 1947-July 1948 are available upon
request.
& Seasonal factors for a number of industries were fixed at 100 during 1939-42; data for these industries are shown only in the unadjusted series.
SURVEY OF CURRENT BUSINESS
Janvuiry 1950
Unless otherwise s t a t e d , statistics t h r o u g h
1948 a n d descriptive notes are shown i n t h e
1949 Statistical S u p p l e m e n t to t h e Survey
1948
Novem-
S-3
1949
December
January
February
March
April
May
June
July
August
September
October
GENERAL BUSINESS INDICATIONS—Continued
INDUSTRIAL PRODUCTION—-Continued
Adjustedcf—Continued
M anuf actures— C ont inued
Nondurable manufactures—Continued
Petroleum and coal products
1935-39 = 100-.
Printing and publishing
_ do_ .
do
227
156
170
231
154
146
228
155
159
221
153
160
213
153
172
209
152
162
207
155
170
202
149
172
198
144
146
'203
151
178
-208
159
175
198
165
165
do
do
161
121
156
110
149
104
149
113
136
129
148
145
145
126
133
124
123
105
129
102
119
-112
' 57
Business sales (adjusted), total
_ bil. of dol
Manufacturing, total
do
Durable-goods industries
_
do
Nondurable-goods industries
do
Wholesale trade, total
do
Durable-goods establishments
do
Nondurable-goods establishments
do
Retail trade, total.-_ do
Durable-goods stores
do
Nondurable-goods stores
_.
do
'38.3
- 19.3
8.4
- 10.9
8.2
2.1
6.1
10.8
3 2
7.6
38.2
19.1
8.3
10.7
8.2
2.0
6.2
11.0
3 3
7.7
36.2
17.9
7.6
10.3
7.7
1.7
6.1
10.6
3 0
7.6
36.5
18.2
7.8
10.4
7.7
1.8
5.9
10.7
3 2
7.5
37.0
18.5
7.8
10.6
7.9
1.9
6.0
10.7
3 3
7.4
35.9
17.6
7.4
10.2
7.4
1.7
5.7
10.8
3.3
7.5
- 36.0
17.7
7.5
10.3
7.5
1.8
5.7
10.7
3.3
7.4
36.4
18.0
7.7
10.2
7.7
1.8
5.9
10.7
3.3
7.3
34.8
17.1
7.2
9.9
7.2
1.6
5.5
10.5
3.3
7.2
-37.1
18.9
- 8.0
11.0
- 7.5
1.8
- 5.7
10.6
3.5
7.2
'37.2
18.9
7.9
11.0
-7.5
1.9
-5.6
10.8
3.5
7.3
-34.6
- 16.8
-6.6
- 10.3
7.2
1.7
5.4
10.6
3.5
7.1
35.7
17.6
7.2
10.4
7.5
1.8
5.7
10.6
3.3
7.3
Business inventories, book value, end of month
(adjusted), total
bil. of dol
Manufacturing, total _ __
._
do _
Durable-goods industries
do
Nondurable-goods industries __ __
do
Wholesale, total
do
Durable-goods establishments . do
Nondurable-goods establishments
do
Retail trade, total.,_ __
do
Durable-goods storesdo
Nondurable-goods stores
.
do
58.6
33.8
15.9
17.9
9.7
3.3
6.4
15.0
5.6
9.4
58.5
34.1
16.2
17.9
9.5
3.3
6.2
15.0
5.7
9.2
58.5
34.4
16.5
17.9
9.5
3.4
6.1
14.7
5.7
8.9
58.4
34.4
16.6
17.8
9.5
3.4
6.1
14.5
5.7
8.8
58.2
34.2
16.5
17.7
9.3
3.4
5.9
14.7
5.8
8.9
57.8
34.0
16.5
17.6
9.3
3.4
5.9
14.5
5.7
8.8
56.9
33.6
16.0
17.6
9.2
3.3
5.9
14.1
5.4
8.8
56.4
-33.3
15.7
17.5
9.0
3.2
5.8
14.2
5.4
8.8
55.3
32.4
15.2
17.1
9.1
3.1
6.0
13.9
5.3
8.6
54.6
31.6
14.7
16.9
9.1
3.0
6.0
13.9
5.3
8.6
54.6
31.1
14.3
16.8
9.2
3.0
6.2
14.4
5.6
8.8
'54.4
-30.7
- 13.9
16.9
9.2
2.9
-6.2
14.5
- 5.7
'8.8
54.1
30.6
13.6
17.0
9.2
2.9
6. 3
14.3
5.5
8.8
Manufacturing inventories (unadjusted), by
stage of fabrication, total __
_ bil. of dol
Purchased materials
do
Goods in process
do
Finished goods
do
33.8
13.9
8.2
11.7
34.2
14.1
8.1
12.0
34.6
14.1
8.2
12.3
34.6
13.9
8.3
12.4
34.4
13.6
8.2
12.5
33.9
13.3
8.2
12.4
33.4
12.8
8.3
12.4
32.9
12.4
8.1
12.4
32.3
12.2
8.0
12.2
31.7
12.0
7.7
11.9
31.0
11.8
7.5
11.7
'30.7
'11.8
'7.2
11.7
30.7
12.0
6.9
11.7
19,288
8,369
2,203
644
837
1,298
1,232
476
460
406
397
416
19, 065
8,341
2,251
640
812
1,340
1,235
510
411
355
382
405
17,880
7,550
2,033
595
729
1,238
1,176
406
351
299
358
366
18,175
7,757
2,081
602
716
1,270
1,217
483
349
302
373
364
18, 451
7,805
2,054
567
742
1,325
1, 222
453
384
337
371
351
17, 643
7,445
1,883
488
720
1,261
1,289
426
370
316
332
361
17, 741
7,488
1,768
452
741
1,229
1,389
484
381
328
367
350
17,990
7,745
1,811
512
730
1,195
1,553
454
417
339
369
366
17,114
7,207
1,703
418
669
1,063
1,558
487
362
288
349
310
18,945
7,982
1, 850
546
749
1,130
1,739
492
410
336
395
335
18, 866
7,878
1,895
579
802
1,130
1,579
365
436
346
388
358
' 16, 824
' 6, 561
- 1,108
-500
-756
' 1, 053
'1,371
-359
-409
-324
-354
-327
17, 597
7,233
1,619
506
756
1,101
1,248
451
453
339
399
361
' 10, 919
3,029
514
292
' 1,170
1,009
277
551
528
1,205
1,735
291
318
10, 724
3,036
537
272
1,116
894
272
538
571
1,167
1,742
280
298
10,330
3,028
498
272
986
958
256
502
588
1,138
1,554
260
290
10,418
3,040
482
274
1,014
978
288
497
619
1,129
1, 545
251
302
10,646
2,923
601
292
1,028
1,043
294
486
641
1,152
1,584
260
342
10,198
2,942
607
266
943
895
291
461
596
1,086
1,540
257
314
10,253
3,027
671
284
936
807
279
451
573
1,144
1.523
248
310
10,244
3,006
701
279
984
685
303
461
592
1,143
1,525
266
300
9,907
2,774
674
271
968
770
282
497
555
1,106
1,511
271
227
10,964
2,969
740
298
1,111
995
316
583
573
1,239
1,598
295
245
10,988
2,989
589
285
1,164
964
294
644
596
1,274
1, 618
277
294
' 10, 263
' 2, 890
-528
256
' 1, 089
-791
'274
-623
-509
' 1,174
' 1, 575
-262
'291
10, 364
2, 815
484
280
1,163
699
258
616
519
1,195
1,714
33, 810
15, 895
3,484
1,045
1,999
3,564
2,054
980
664
761
560
784
34,066
16,182
3, 523
1,078
2,018
3,618
2,133
998
666
780
577
792
34,409
16,539
3,586
1,062
2,059
3, 666
2,212
996
737
814
593
814
34,409
16, 629
3, 633
1,029
2,088
3, 688
2,217
976
744
835
605
813
34, 223
16, 528
3, 632
1,096
2,063
3,691
2,194
951
698
817
572
815
34,018
16, 466
3, 654
1,123
2,024
3,628
2,201
926
737
795
570
808
33, 565
15, 994
3,629
1,120
1, 941
3, 533
2,008
909
725
787
557
785
33, 250
15, 727
3,564
1,136
1,888
3,484
1,977
915
652
786
563
762
32. 367
15, 225
3,459
1,115
1,806
3,386
1,904
903
617
757
548
731
31, 638
14, 741
3,337
1,064
1,737
3,329
1,824
860
586
754
527
724
31, 059
14, 266
3, 185
1,035
1,648
3,239
1,769
869
558
744
506
712
' 30, 737
' 13,870
' 3, 055
- 1, 023
- 1, 603
- 3,152
- 1, 678
' 839
' 598
' 717
- 492
- 712
30, 616
13. 611
3,028
1, 024
1,573
3,075
1,599
826
602
724
476
685
17, 916
3,029
1,059
1,631
2,448
1,588
616
887
629
2,445
2,408
667
510
17, 884
3,015
1,052
1,619
2,466
1,564
609
889
640
2,435
2,432
650
513
17, 870
3,011
1,052
1,598
2,521
1,540
634
909
645
2,428
2,446
661
425
17, 780
2,975
1,082
1,577
2,509
1,494
606
906
645
2,411
2,495
661
420
17, 695
3,010
1,118
1,568
2, 482
1,436
598
919
628
2,355
2,516
653
412
17, 552
3,028
1,114
1,595
2,395
1,363
595
911
616
2,346
2,527
648
414
17, 572
2,993
1,108
1,614
2,404
1,404
617
894
611
2,316
2,539
650
420
17, 524
3,026
1,095
1,633
2,361
1,412
624
872
609
2,278
2, 544
644
427
17,142
2,842
1,102
1,611
2,316
1,421
590
832
580
2,264
2,546
625
415
16, 898
2,884
1,062
1,668
2,219
1,359
598
793
568
2,247
2,513
586
400
16, 794
2,806
1, 124
1,728
2,198
1,332
614
756
561
2,228
2,497
562
390
•" 16, 867
' 2, 955
' 1, 099
- 1, 715
- 2, 218
' 1,332
' 611
<• 739
559
- 2, 222
' 2, 507
'537
'373
17, 006
3,019
1,112
1,706
2,247
1,357
631
735
568
2,224
2, 508
Tobacco products . . _ - . .
Minerals
Metals
...
-
160
169
P
gg
BUSINESS SALES AND INVENTORIES *
MANUFACTURERS' SALES AND INVENTORIES—VALUE (ADJUSTED)*
Sales, total
mil. of dol.__
Durable-goods industries total
do
Iron, steel, and products
do
Nonferrous metals and products
. _ do Electrical machinery and equipment
do
Machinerv except electrical
do
Automobiles and equipment
.do
Transportation equip., except autos
do
Lumber and timber basic products
do
Furniture and finished lumber products..do
Stone, clav, and glass products
do
Other durable-goods industries
do
Nondurable-goods industries, totaL
Food and kindred products
Beverages
Tobacco manufactures
__
Textile-mill products
Apparel and related products
Leather and products _ _
Paper and allied products
Printing and publishing
__ _ .
Chemicals and allied products
Petroleum and coal products
Rubber products
Other nondurable-goods industries
_ do
do
do
do
do
do
do
do
_ do. . .
do
do. _.
do
do
Inventories, book value, end of month, total
do
Durable-goods industries, total
do
Iron, steel, and products
do
Nonfcrrous metals and products .
do
Electrical machinery and equipment
do
Machinery, except electrical
do
Automobiles and equipment . _
-do
Transportation equip., except autos..
do
Lumber and timber basic products
do
Furniture and finished lumber products.-do
Stone, clav, and glass products . . _ _ . do
Other durable-goods industries
_
do
Nondurable-goods industries, total -_ Food and kindred products
Beverages
Tobacco manufactures
_
Textile-mill products
_
Apparel and related products
Leather and products
.
.
_ _
Paper and allied products
Printing and publishing
Chemicals and allied products
Petroleum and coal products .
___ __
Rubber products
Other nondurable-goods industries.
do
do
do
do
do .
do
do do
do_ _
do
do
do
do-_-_
334
357
' Revised.
» Preliminary.
cfSee note marked "d"" on p. S-2.
*New series. Except as otherwise stated, seasonally adjusted dollar sales and inventories have been substituted beginning with the October 1949 SURVEY for the unadjusted dollar values
and indexes formerly shown; for earlier figures and details regarding the new series, see pp. 12-24 of the October issue. Sales and inventories of service and limited-function wholesalers only
are published currently on p. S-10.
SUEVEY OF CUERENT BUSINESS
S-4
Unless otherwise stated, statistics t h r o u g h
1948 a n d descriptive notes are shown i n t h e
1949 Statistical S u p p l e m e n t to t h e Survey
January 1950
1949
November
December
January
February
March
April
May
June
July
August
September
October
November
GENERAL BUSINESS INDICATORS—Continued
MANUFACTURERS' NEW ORDERS, NET •
Value (unadjusted), total
_mil. of doLDurable-goods industries, totaL_.
do
Iron, steel, and products
do
Nonferrous metals and their products
do
Electrical machinery and equipment
do
Machinery, except electrical
do
Transportation equipment, except autos_-do
Other durable-goods industries
do
Nondurable-goods industries
do
18,928
7,722
2,122
606
856
1,009
481
16,860
6,703
2,034
594
699
918
'-155
2,613
10,157
18, 050
7, 570
2,023
582
786
1,075
444
2,660
10, 480
2,649
11,206
16, 534
6,734
1,832
514
612
1,016
384
2,376
9,800
17, 962
7,185
1,816
570
754
1, 151
296
2, 598
10, 778
15, 968
6,127
1, 425
437
619
985
160
2, 501
9,841
15, 734
5,993
1,328
358
584
986
495
2,241
9,742
16, 300
6,544
1,504
418
702
1,017
217
2,686
9, 756
15, 496
6,195
1,284
365
561
858
263
2,865
9, 301
18, 697
7,407
1,776
615
687
938
244
3,146
11, 290
19, 379
7,572
1,451
583
810
996
377
3, 355
11, 807
' 18, 597
r
7, 670
' 2,0V 5
' 566
-•841
r
970
' 246
' 2, 972
' 10,926
6,424
6,828
6,867
6,877
1
1
BUSINESS POPULATION
OPERATING BUSINESSES AND BUSINESS
TURN-OVER
Operating businesses total end of quarter
Contract construction
Manufacturing
Service industries
Retail trade
Wholesale trade
All other
New businesses quarterly total
Contract construction
Manufacturing
Service industries
Retail trade
Wholesale trade _
All other
thous
do
do
do
do
do
do
r
r
3 964 7
' 323 8
' 319 8
r
852 1
1 <"9r> 9 i
202 7
r
569 4
r
3 938
r
323
' 307
' 848.
1 688
' ?02
' 567
1
2
9
8
3
2
5
3,911.9
322.8
296.1
S45. 7
1,679 5
202.1
565 7
do
do
do
do
do
- do
do
77 6
11.3
7.5
16.4
28.8
3.9
9.8
'95.0
16.1
9.1
19 8
34.5
4.4
11 1
99.0
16.9
9.0
20.0
37.9
4.2
11.0
Discontinued businesses, quarterlv total
do
Contract construction
do
Manufacturing
do
Service industries
__
_ - do
Retail trade
do
Wholesale trade
do
All other
do
102 0
' 12 9
' 15 3
'20.6
r
38 0
4 0
r
11 2
' J 21 6
16. r>
21.0
93 9
'43.1
4 7
12.9
125.2
17 3
20 8
23.1
46. 7
4.4
12.8
70.6
102.2
Business transfers, quarterlv total
do
83.6
BUSINESS INCORPORATIONS
New incorporations (48 States)*
number-~
7,421
6, 413
7,906
6,362
7,637
7,273
7,445
Failures, total
_ _
numberCommercial service
do
Construction
-- . . _ . . . . -do _.
Manufacturing and mining
do
Retail trade
do
Wholesale trade
.__
_ _ ____ do. _
Liabilities, total
Commercial service
Construction
__
Manufacturing and mining
Retail trade
Wholesale trade
_
thous. of dol...
do
_ do
do
do
do
6,755
7,260
INDUSTRIAL AND COMMERCIAL
FAILURES
460
31
37
129
208
55
531
36
64
155
217
59
566
41
53
129
267
76
685
44
63
170
318
90
849
89
77
215
366
102
877
76
68
229
406
98
776
59
63
202
351
101
828
75
74
215
372
92
719
49
61
188
344
77
810
53
55
221
385
96
732
67
71
183
329
82
802
58
90
181
364
109
24, 416
1 382
955
15, 933
3, 456
2 690
31, 731
924
2,396
21, 980
4,247
2.184
19,159
1,174
1,892
8, 625
4,841
2,627
27, 567
896
2,476
15,009
5, 728
3, 458
97, 444
65, 048
3,018
17, 075
7,269
5, 034
31,930
5,774
1,519
' 14.523
6 139
3. 975
28,374
5,390
1, 434
11,182
6 034
4, 334
28,161
1,862
2,476
13, 500
6, 234
4,089
21,804
1,393
1,845
10,183
5,629
2,754
31,175
1,187
2,272
16, 008
6,424
5,284
20, 598
1,289
2,148
9,379
4,929
2,853
23, 894
1,248
1,989
11,897
5,833
2,927
252
225
212
168
412
243
211
175
219
277
331
230
213
249
220
207
171
412
243
194
185
205
275
324
236
214
245
212
204
166
407
236
160
174
225
276
317
243
226
249
211
210
167
400
240
143
205
213
284
326
249
237
2*3
206
212
163
403
231
155
170
208
276
308
255
231
255
264
' 244
' 243
'255
263
'244
' 243
'253
260
'243
' 242
'251
260
'240
' 240
'250
258
'239
'239
!
2 835
2 63
83
197
395
97
2
22, 799
1, 281
4,362
8,419
5, 929
2,808
2
COMMODITY PRICES
PRICES RECEIVED AND PAID BY FARMERS
Prices received, all farm products §--_1909-14=100Crops
do...
Food grain
do_ .
Feed grain and hay
do Tobacco
do. Cotton
do _..
Fruit
do-_.
Truck crops
do_ - _
Oil-bearing crops-..
do_..
Livestock and products..
do_-_
Meat animals
do.-_
Dairy products
do.-.
Poultry and eggs
do...
271
224
234
181
412
246
157
186
283
313
351
284
272
268
228
236
184
415
239
164
209
283
305
339
283
260
268
238
232
187
412
236
180
282
274
295
330
275
240
Prices paid:
All commodities!
1910-14= 100- Commodities used in living
do
Commodities used in productionf
do
All commodities, interest and taxesf
do
'260
'260
' 258
272
271
267
' 245
' 246
'246
' 246
' 246
' 246
'245
' 244
258
233
221
173
412
235
181
285
244
280
315
264
218
261
232
224
178
411
232
189
263
242
287
335
254
217
260
236
227
178
410
241
207
236
238
282
333
240
221
256
234
227
174
411
242
215
213
231
277
328
234
217
'256
'256
264
265
••245
' 244
'257
264
' 246
' 245
' 256
263
' 246
' 244
r
' 109
' 106
' 107
102
' 110
' 109
'104
'104
' 102
106
' 105
101
Parity ratiof
do
100
1
2
Minus denotes excess of cancellations over new orders,
Beginning November 1949, figures exclude railroad failures (January-October 1949 totals—number of railroad failures, 3; amount
of liabilities, $64,047,000).
*New series. Beginning with the December 1949 SURVEY, dollar values of manufacturers' new orders have been substituted for the indexes shown prior to the October 1919 issue; figures
back to January 1946 and details regarding the new series are given on pp. 18-24 of the December 1049 SURVEY. Data on new incorporations are compiled by Dun and Bradstreot, Inc.; they
are available for the 48 States beginning 1946, and for 47 States (excluding Louisiana) beginning July 1945.
§December 1949 indexes: All farm products, 236; crops, 208; food grain, 219; feed grain and hay, 170; tobacco, 415; cotton, 214: fruit, 151; truck crops, 206; oil-bearing crops, 212; livestock and
products, 261; meat animals, 289; dairy products, 259; poultry and eggs, 195.
fRevised series. Data have been revised beginning 1926; revisions prior to November 1948 will be shown later.
SURVEY OF CURRENT BUSINESS
January 1950
Unless otherwise stated, statistics through
1948 and descriptive notes are shown in the
1949 Statistical Supplement to the Survey
1948
November
S-5
1949
December
January
February
March
April
May
June
July
August
September
October
November
COMMODITY PRICES—Continued
RETAIL PRICES
All commodities (U. S. Department of Commerce
index)
.1935-39=100-
193.4
192.5
Coal (U. S. Department of Labor indexes):
Anthracite
Oct. 1922-Sept. 1925=100.
Bituminous
do
145.5
159.2
145.5
159.2
Consumers' price index (U. S. Dept. of Labor):
All items
1935-39=100.
Apparel
do_..
Food
do...
Cereals and bakery products
do...
Dairy products
do...
Fruits and vegetables
do.__
Meats, poultry, and fish
do...
Fuel, electricity, and refrigeration
do_..
Gas and electricity
do___
Other fuels
do__.
Housefurnishings
do _ _ _
Rent..
do._Miscellaneous
do
172.2
201.4
207.5
169.9
199.5
189.4
246.7
137.9
95.4
191.6
198.7
118.8
153.9
189.2
189.4
189.2
188.3
188.3
186.8
186.6
187.2
147.0
1591 5
149.1
160.0
149.1
160.0
144.9
158.1
140.7
154.7
142.3
154.8
143.0
154.8
143.4
154.9
145.4
156.4
171.4
200.4
205. 0
170.2
199.2
192.3
241.3
137.8
95.3
191.3
198.6
119.5
154.0
170.9
196.5
204.8
170.5
196. 0
205. 2
235.9
138.2
95.5
191.8
196.5
119.7
154.1
169.0
195.1
199.7
170.0
192.5
213.7
221.4
138.8
96.1
192.6
195.6
119.9
154.1
169.5
193.9
201.6
170.1
190.3
214. 5
229.6
138.9
96.1
192.5
193.8
120.1
154.4
169.7
192.5
202.8
170.3
184.9
218.6
234.4
137.4
96.8
187.8
191.9
120.3
154.6
169.2
191.3
202.4
170.1
182.6
220.7
232.3
135.4
96.9
182.7
189.5
120.4
154.5
169.6
190.3
204.3
169.7
182.0
217.9
240.6
135.6
96.9
183.0
187.3
120.6
154.2
168.5
188.5
201.7
169.5
182.2
210.2
236.0
135.6
96.9
183.1
186.8
120.7
154.3
168.8
187.4
202.6
169.4
184.9
201.9
239.5
135.8
97.1
183.1
184.8
120.8
154.8
169.6
187.2
204.2
169.7
185.3
199.8
243.6
137.0
97.1
185. 9
185.6
121.2
155.2
164.0
162.4
160.6
158.1
158.4
156.9
155.7
154.5
153.5
152.9
158.8
175.2
161.0
180.8
171.1
213.4
160.1
157.6
172.2
160.8
177.3
171.1
204.6
158.9
156.2
169.3
160.4
172.5
167.7
194.7
157.8
154.0
165.8
159.6
168.3
157.2
187.2
155.7
154.1
167.3
156.9
171.5
162.6
195.0
155. 3
153.0
165.8
153.1
170.5
163.8
189.0
153.7
151.5
165. 9
149.4
171.2
159.9
191.5
152.1
150.7
164.5
146.5
168.8
154.9
193.3
151.2
149. 7
163.2
146.0
166.2
154.1
188.5
150.5
149.4
161.3
147.9
162.3
150.4
186.3
150.6
174.3
150. 5
170.7
139.6
227.4
170.2
150.0
171.2
139. 8
220.8
165.8
148.0
163.6
145.3
214.2
161.5
146.7
159.8
152.3
205.1
162.9
146.5
154.8
151.7
214.8
162.9
145.3
147.2
158.1
216.0
163.8
145.1
145.9
167.3
215.2
162.4
145.6
145.5
157.5
215.5
161.3
146.1
149.2
145.4
212.2
153.6
203.1
160.4
133.2
311.2
161.4
153.1
202.2
160. 5
133.5
305. 9
161.2
152.9
202.3
162.5
' 133.9
299. 5
166.3
151.8
201.5
162.4
' 133.9
296. 9
165.3
150.7
200.0
162.4
133.9
294.7
162.3
148.9
196.5
160.8
' 133.7
290.6
157.9
146.8
193.9
160.8
133. 7
285.2
157. 4
145.6
191.4
160.8
r 133.7
280.7
153.6
185.6
r 147. 4
r
158. 5
148.3
160.5
168.5
186.8
200.6
169.1
186.7
194. 5
235.1
138. 4 I
97.0
188.3 |
185.2
121.5
155.2
168.6
186. 3
200.8
169.2
186. 4
202.0
229.1
139.1
97.0
190.0
185.4
122 0
154.9
' 153.6
152.2
151.6
150.1
162.0
147.8
163.1
156.4
186.6
151.2
149. 1
160.3
145.3
159. 6
155. 3
177.7
150.3
148.1
160.4
145.1
156. 8
156. 4
169.6
150.2
160.6
142.8
152.7
130.3
210.7
162.0
143.7
153.5
126.9
215.1
159.6
144.6
154.6
128.1
205.0
158.9
144.6
154.7
130.8
198.9
145.0
189.0
161.5
»• 133.1
277.4
145.2
145.0
188.2
161.5
133.0
277.4
143.8
145.3
189.4
161.8
133.0
279.7
143.9
145.0
189.2
161.8
134. 5
281.9
141.1
145. 0
189.5
161.7
134.5
283. 4
139.9
WHOLESALE PRICES &
U . S. Department of Labor indexes:^
All commodities
1926=100..
Economic classes:
Manufactured products
do
Raw materials
do
Semimanufactured articles
do
Farm products
do
Grains
do_...
Livestock and poultry.
do
Commodities other than farm products._do
Foods
Cereal products
Dairy products ...
Fruits and vegetables
Meats, poultry, and
fish
do.
do.
do.
do.
do_
Commodities other than farm products and
foods
1926=100.
Building materials.
do...
Brick and tile
do
Cement §
do...
Lumber
do...
Paint and paint materials
do...
r
r
r
Chemicals and allied products
do...
Chemicals
do_._
Drug and pharmaceutical materials..do_._
Fertilizer materials
do
Oils and fats
do
134.4
125.8
152.0
119. 5
195.1
131.1
123.4
151.5
120.1
179.4
126.3
122.2
150.4
120.8
146.1
122.8
119. 5
148.9
120.8
131.7
121.1
118.4
142.4
119. 6
129.3
117.7
117.2
123.0
119.7
121.2
118.2
116.9
123.6
118.9
127.0
116.8
116.9
124.3
117.5
116.9
118.1
118.1
124.7
120.7
118.5
119.7
118.0
125.0
121.8
130.3
117.7
117.4
125.0
120.4
118.4
116.0
115.5
123.1
120.2
115.6
116.1
115.2
123. 0
119.8
118.3
Fuel and lighting materials
Electricity
Gas
Petroleum and products
do..
do.
do..
do_.
137.6
67.3
92.6
122.8
137.2
67.7
91.1
122.0
137.1
67.7
88.1
121.3
135.9
68.5
91.9
118.7
134.3
67.9
92.8
115.9
132.0
67.9
92.3
113.3
130.1
68.2
90-9
110. 7
129.9
68.9
90.1
110.4
129.9
70.0
89.5
110.2
129.7
68.5
88.9
109.7
130.0
68.9
89.3
109.1
r 130. 5
130.0
87.8
r 109. 9
108.5
Hides and leather products
Hides and skins
Leather
Shoes
do.
do_
do.
do..
186.2
206.0
183.8
188.1
185.3
197.2
186.5
188.0
184.8
198.7
185. 4
187.8
182.3
185.9
183. 9
187.8
180.4
181.8
178.9
187.8
179.9
183. 4
177.8
186.9
179.2
188. 2
177.4
184.0
178.8
186.0
177.1
184.1
177.8
184.7
175.4
183.8
178.9
194.5
173. 7
183.8
181.1
204.8
175.5
183.8
181.3
205.6
176.5
183.4
180.8
199.5
177. 0
184. 3
Houscfurnishing goods
Furnishings
Furniture
do_.
dodo..
148.2
153.6
142.8
148.4
153.6
143.1
148.8
153.6
142.8
148.3
154. 2
142.3
148.0
153.9
142.1
147.0
152.4
141.6
146.2
151.9
140.3
145.1
150.9
139.3
143.0
149.1
136.8
142.9
149.1
136.6
142.9
149.1
136.6
143.0
149.2
136.7
143.4
149.8
136.8
Metals and metal products
Iron and steel
Non ferrous metals
Plumbing and heating
do.
dodo..
do_
173.3
165.0
171.4
157. 3
173.8
165. 4
172.5
157. 3
175.6
169.1
172.5
156.9
175. 5
169.1
172.5
156.1
174.4
168.3
168.4
155. 3
171.8
166.2
156.4
154.9
168.4
165.1
138.2
154.7
167.5
164.7
128.8
154.7
167.9
164.2
132.1
154. 7
168.2
163.8
135.9
154.7
168.3
164.0
135.7
154.6
167.3
163. 3
131.5
154.6
167. 3
163. 4
131.7
154. 6
Textile products
Clothing
•
Cotton goods
Hosiery and underwear
Rayon and nylon.
Silk
Woolen and worsted goods
do
do....
do
do
do
do....
do
147.4
149.1
191.2
104.0
41.8
46.4
159.6
146.7
148.8
189. 2
103.7
41.8
46.4
159. 6
146.1
147.7
186.9
102. 5
41.8
50.1
161.6
145. 2
147.3
184.8
101. 3
41.8
50.1
162.1
143. 8
147.1
180.1
101.2
41.8
50.1
161.8
142.2
146.4
176.2
101.2
41.8
50.1
160.9
140.5
146.0
172.6
100.4
40.8
50.1
159.7
139.2
145.6
169.7
99.6
39.6
49.2
159.7
138.0
144.8
167. 3
98 5
39. 6
49.2
157.6
138.1
144.8
170.2
98.4
39.6
49.2
152.6
139.0
144.8
174.8
98.4
39.6
49.2
150. 4
' 138. 0
144.6
176.5
98.4
39.6
49.2
145.1
138.0
144. 3
178.1
98.4
39. 6
49.5
146.0
Miscellaneous
Automobile tires and tubes
Paper and pulp_.
do
do
do
119.2
66.2
169.9
118.5
66.2
169. 5
117.3
65.5
168.3
115.3
64.7
168.0
115. 7
64.6
167.2
115. 6
64.6
165.1
113.5
64.5
163.3
111.0
62.1
159.6
111.3
60.6
156.8
109.8
60.6
156.8
109.6
60.6
156. 5
109.0
60.7
156.5
109.7
62.5
156. 5
49.1
58.1
48.2
49.5
58.3
48.8
50.1
58.5
48.8
50.9
59.2
50.1
50.8
59.0
49.6
51.2
58.9
49.5
51.6
59.1
49.4
52.0
59.0
48.9
52.4
59.3
49.6
52.6
59.2
49.4
52 4
59.0
49.0
52. 8
59.3
49.9
53.2
59.3
49.8
r
r
PURCHASING POWER OF THE DOLLAR
As measured by—
Wholesale prices
Consumers' prices
Retail food prices
r
1935-39=100..
do
do
Revised.
cfFor actual wholesale prices of individual commodities, see respective commodities.
JThe Department of Labor is currently reviewing and revising the samples of commodities and of reporters for the indexes, subgroup by subgroup, to reflect postwar changes
in production and distribution. As subgroup revisions are completed, the revisions are incorporated in the pertinent group indexes and the all-commodity index and the subgroup indexes
are revised retroactively for the entire period covered by the revision; however, to avoid repeated revisions of the group indexes and the all-commodity index, these are not revised retroactively
more than 2 months. If introduction of a revised subgroup into the calculations changes significantly the levels of the group indexes and the all-commodity index, the latter indexes computed
with the original sample for the first month of the revision will be provided in a footnote. In some instances, it is necessary to correct previously published indexes because of late reports,
incorrect reports, cr other errors in prices previously used. Indexes for the latest 2 months are preliminary and are currently revised to incorporate corrections received in the 2 months following. Any additional corrections received are incorporated in final annual summaries issued in the middle of the year. Indexes for June-December 1948 were corrected in the August 1949
SURVEY. Corrected indexes for January-May 1948 are available upon request.
§Revisions for August-October 1948, respectively, are as follows: 132.4; 132.7; 133.2.
867406°—50
4
SUEVEY OF CUERENT BUSINESS
S-6
Unless otherwise stated, statistics through
1948 and descriptive notes are shown in t h e
1949 Statistical Supplement to t h e Survey
1948
November
January 1950
1949
December
January
February
March
August
April
September
October
CONSTRUCTION AND REAL ESTATE
CONSTRUCTION ACTIVITY
Public, total
Residential
Military and naval
Nonresidential building
Conservation and development*
Highway
All other
r
1,447
1,129
547
1, 293
1,002
475
1,172
905
400
1,267
951
420
1,370
989
445
1,576
1,108
530
1, 735
1,229
600
1, 833
1,301
650
325
106
116
22
294
305
93
114
13
264
285
82
110
12
230
271
78
104
10
224
262
79
96
18
251
251
76
89
30
263
257
83
82
40
281
268
92
76
50
311
269
91
72
60
322
264
85
71
75
329
263
83
70
65
330
261
82
68
50
317
266
86
68
25
289
390
7
11
116
58
131
67
318
7
9
110
50
83
59
291
267
8
7
108
39
52
53
316
10
9
122
45
68
62
381
14
8
134
56
100
468
15
9
141
67
160
76
506
17
9
144
74
185
77
532
20
10
148
75
200
79
560
23
12
152
77
215
81
554
27
14
155
536
27
14
158
74
185
"78
472
24
12
151
65
145
75
25, 264
611,216
198, 699
412,517
24,143
694, 023
278,147
415,876
3,529
25,077
240,310
3,374
2,901 |
2,929
28,335 I 21,685 l 21,646
266,399 ; 221,883
221,895
20, 472
33, 563
264,033
19,529
11, 855
31,500 ! 19, 892
256,746 | 159,128
934
77, 760
956
125, 581
329
29,113
New construction, total
mil. of dol..
Private, total
do —
Residential (nonfarm)
do
Nonresidential building, except farm and public
utility, total
mil. of doL.
Commercial*
do—
Industrial
do
Farm construction
do
Public utility. __
do
do.
do.
..do.
do do.
do.
do_
110
40
58
1, 903
1,343
675
1,922
1,368
710
200
81
1, 879
r 1, 343
' 715
1,767
1,295
715
CONTRACT AWARDS
Construction contracts awarded in 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.
Valuation
thous. of dol.
Residential buildings:
Projects
number.
Floor area
thous. of sq. ft.
Valuation.thous. of dol.
Public works:
Projects
number.
Valuation..thous. of dol.
Utilities:
Projects.
number.
Valuation
thous. of dol.
Value of contract awards (F. R. indexes):
Total, unadjusted
1923-25=100.
Residential, unadjusted
do. - Total, adjusted
do—
Residential, adjusted
do
Engineering construction:
Contract awards (E. N . R.)§
thous. of dol.
Eighway concrete pavement contract awards :d*
Total...
thous. of sq. y d .
Airports
do...
Roads
do...
Streets and alleys
do...
31,570
842, 586
318, 506
524, 080
33,474
880, 344
368, 551
511,793
37, 203
945, 676
375, 431
570, 245
32, 579
943, 560
410,352
533, 208
43,782
37, 662
46, 925
905, 748 1,093, 724 1, 061, 751
316,409
288, 754 331, 892
729, 859
589, 339
804, 970
40,132
957, 761
315, 683
642,078
3,695
27,953
327, 441
4,154
31,929
316,370
4,138
30,166
320, 630
4, 578
32, 961
335, 961
4,384
33, 283
350, 282
4,318
25, 746
278,031
4,186
32, 448
345, 023
4,528
32. 004
357, 085
3,518
25, 495
266,103
12, 770
26. 665
193,073
19, 288
28, 282
251, 770
25, 541
37, 087
303, 825
27,187
42, 392
346, 251
29, 949
45, 804
370, 752
25, 570
42, 950
340, 593
31,079
48,146
393, 434
40, 342
65. 715
525, 572
37, 289
60, 801
500, 702
35, 224
53. 262
435, 235
620
74, 528
573
117,325
954
120, 210
1,513
169, 700
1, 737
179,396
2,197
175, 861
2,142
207,130
1,892
173, 714
1,947
171, 576
1,566
128, 860
1,032
125, 891
284
45, 297
221
27, 445
238
36,174
344
48,198
362
52, 691
412
34,067
479
63,102
483
45, 555
373
60, 569
450
51, 553
399
75, 104
358
130,532
169
148
189
154
145
123
180
145
142
110
174
133
146
109
169
123
176
136
175
130
201
165
177
141
218
187
181
159
226
194
195
176
228
202
209
200
238
226
229
228
247
254
246
254
r
251
' 260
' 263
r 269
242
253
268
263
451,112
843, 544
565, 826
563,084
743, 529
589, 693
601,709
896,128
619, 442
781, 416
810, 309
553, 482
589, 224
2,560
41
1,736
784
1,151
37
601
513
3,302
59
2,164
1,079
3,653
53
1, 633
1,968
4,410
327
2,198
1,885
7. 966
787
4,792
2,387
5, 035
95
2, 950
1,990
5,224
89
2,854
2, 2S1
3,927
208
2,154
1, 565
2, 648
4S7
1, 037
1,124
3,329
498
939
1,891
r
2, 521
210
1,646
665
1
1
1
5, 217
i 228
2, 951
2,038
15,597
16,510 I 24,281
482,984
568,467
747,619
159,942 ; 251,866
281,947
323,042 ! 316,601 | 465, 672
!
I
NEW D W E L L I N G U N I T S AND URBAN
BUILDING
New permanent nonfarm dwelling units started
(U. S. Department of Labor)
number.
Urban building authorized (U. S. Dept. of Labor):
New urban dwelling units, totalt
number.
Privately financed, total
do...
Units in 1-family structures
do...
Units in 2-family structures
do...
Units in multifamily structures
do...
Publicly financed, total
do
Indexes of urban building authorized:
Number of new dwelling units
1935-39=100.
Valuation of building, total
do
New residential building
do
New nonresidential building
do
Additions, alterations, and repairs
do
r
63,600
52,900
50,000
50,400
69, 400
88, 300
95, 400
95, 500
96,100
99,000
100,000
100,000
93,000
34, 773
32, 514
25, 642
1, 729
5,143
2,259
28, 904
25,553
19, 229
1,995
4,329
3,351
27,080
23. 420
16, 739
1,919
4,762
3, 660
29, 002
26, 522
18, 331
1,345
6,846
2,480
46, 225
42,315
32, 909
2, 391
7. 015
3,910
53, 704
50, 966
37, 680
2,992
10, 294
2, 738
58, 037
54, 667
36, 563
2, 588
15, 516
3,370
59, 073
55. 416
36, 947
2, 131
16, 338
3, 657
51, 679
48, 525
34, 324
1. 765
12. 436
3, 154
58, 594
57, 051
40, 340
2,282
14, 429
1,543
65, 290
63,174
43,998
2,189
16, 987
2,116
59, 436
57, 182
41, 789
2,851
12, 542
2, 254
53. 604
51, 609
41, 462
2,074
8,073
1,995
«- 200.1
r
274.0
r
355. 7
r 220.0
r 215.3
166.2
247.4
297.2
215. 3
219.0
156.1
234.1
263. 4
221.8
200.0
157. 5
221.3
265. 3
190.6
201.8
267. 5
333. 4
467.0
248.6
265.0
308. 7
362. 9
523. 5
257.0
277.0
330.5
380.4
583. 5
240.2
287.3
338. 5
427.5
578. 3
334. 8
329.0
295. 3
342. 3
495. 9
234.0
277. 7
337.7
390.8
570.4
267.5
306.9
377.3
412.6
627. 5
278. 2
279. 0
r 343. 5
r
387. 8
* 592.8
r 253.0
r
276. 5
309.1
350.2
546.9
231. 5
216.0
CONSTRUCTION COST INDEXES
Aberthaw (industrial building)
1914 = 100..
American Appraisal Company:
Average, 30 cities
1913 = 100
A tlanta
do_.
New York
do. .
San Francisco
do..
St. Louis
do
Associated General Contractors (all types).-_do
E. H . Boeckh and Associates, Inc.:
Average, 20 cities:
Apartments, hotels, and office buildings:
Brick and concrete
U. S. avg. cost 1926-29=100..
Brick and steel
do.
Brick and wood
do.
Commercial and factory buildings:
Brick and concrete
doBrick and steel
do.
Brick and wood
doFrame
_ do_
Steel
do.
Residences:
Brick
do.
Frame
do.
323
319
307
502
529
522
454
493
341
501
532
520
457
491
341
502
532
520
459
491
341
499
529
516
452
488
339
496
525
513
448
485
339
494
521
510
447
482
340
492
518
508
446
480
340
489
510
501
445
477
343
488
509
497
445
477
343
486
506
495
446
474
342
485
503
493
443
471
343
484
505
492
442
471
345
484
503
493
442
471
345
209.7
212.4
224.6
209.0
211.3
221.1
208.9
211.0
220.7
209.3
211.5
220.9
209. 3
211.0
219.2
208.6
210.0
218.2
207.1
208.0
214.9
208.2
208.1
214.6
206.5
206.2
210.8
207.1
206.1
210.0
207. 4
206.3
211.1
207.9
207.2
212.9
208. 3
207.5
213.7
212.9
211.2
218.9
232.4
198.0
212.5
210.3
216. 5
227.1
197.5
212.8
210.4
216.4
226.8
197.7
213.2
210.6
216.5
226.3
197.7
213.3
210.3
215.5
223.8
197.5
212.0
209.5
214.5
222.5
196.7
209.3
207.5
211.1
219.0
194.7
211.1
208.3
211.3
218.2
195.1
210. 2
207.1
208.6
212. 6
194.1
210.6
207.3
208.2
211.3
194.4
210.7
207.6
208.9
212.7
194.4
211.1
208. 4
210.1
215.2
194.4
211.4
208.7
210.9
216.3
194.6
221A
221.1
219.7
221.2
215.6
218.7
221.1
219.1
221.0
214.3
217.8
221.5
Revised.
i Data include some contracts awarded in prior months but not reported.
*New series. Monthly averages for 1915-38 and monthly figures for January 1939-July 1948 are available upon request.
§Data for December 1948 and March, June, and September 1949 are for 5 weeks; other months, 4 weeks.
d*Data for December 1948 and March, June, August, and November 1949 are for 5 weeks; other months, 4 weeks.
JMinor revisions in figures for number of dwelling units beginning January 1947 are available upon request.
215.4
213.6
211.4
208.7
210.6
207.6
211.7
208.9
213. 4
210.8
214.0
211.6
p
225.0
226.0
SURVEY OF CURRENT BUSINESS
January 1950
1948
Unless otherwise stated, statistics through
1948 and descriptive notes are shown in the
1949 Statistical Supplement to the Survey
November
S-7
1949
December
January
February
March
April
May
June
July
August
September
October
353.5
480.4
352. 8
480.0
November
CONSTRUCTION AND REAL ESTATE—Continued
CONSTRUCTION COST INDEXES—Con.
Engineering News-Record:
Building
1913 = 100.
Construction
do.-.
Bu. of Public Roads—Highway construction:
Composite, standard mile
1925-29=100.
355.6
477.7
354.9
477.4
352.9
475.4
352.5
474.8
351.4
473.5
472.1
349.3
473.8
349.4
477. 5
350.7
478.3
352.0
479.8
353.1
480.3
148.7
165. 3
CONSTRUCTION MATERIALS
Production of selected construction materials, index:
Unadjusted
1939=100_
Adjusted
do-._
145.2
146.5
132.7
150.1
117.0
137.0
108.2
131.2
129.9
137.5
130.5
131.3
132.6
125.3
135.3
126.4
' 123. 6
' 116. 2
214,407
208,312
183,152
188,634
162,187
156,122
168, 527
154, 576
515
427
386
357
339
333
358
332
r
r
148. 7
138.3
v 141.2
v 127.4
.186,312
173, 970
198, 235
199,841
331
333
347
371
r
146. 7
129. 6
r
REAL ESTATE
Home mortgages insured by Fed. Hous. Admin.:
New premium paying mortgages-__thous. of doL. 212,085
Loans outstanding of agencies under the Home
Loan Bank Board:
Federal Home Loan Banks, outstanding advances
to member institutions
mil. of doL.
Home Owners' Loan Corporation, balance of
loans outstanding
mil. of dqL.
New mortgage loans of all savings and loan associations, estimated, total
thous.of dol_. 260,472
By purpose of loan:
82,172
Home construction
do
117,088
Home purchase
do
22,881
Refinancing
do
12,270
Repairs and reconditioning
do
26,061
All other purposes
do
New nonfarm mortgages recorded ($20,000 and
under), estimated total
thous. of doL. 919,631
8.6
Nonfarm foreclosures,adjusted index._1935-39=100__
52,949
Fire losses
thous. of doL.
369
344
291
319
249, 828
206, 577
214,931
269,128
279, 606
293, 215
326, 637
304, 343
348, 276
354,194
353, 909
343, 260
70,011
114,090
23,549
11,506
30,672
56, 428
89,192
23,198
10, 502
27,257
59, 611
90, 348
24,181
11, 822
76, 666
111.523
30, 562
14, 242
36,135
84, 277
116, 051
29, 383
15, 663
34, 232
87, 517
125, 073
28, 849
17, 375
34, 401
97. 963
141, 674
31,838
17, 714
37,448
90, 397
128,657
r
29, 026
16, 732
39, 531
101,022
149, 867
34, 443
19. 510
43,434
108, 280
155, 915
33,188
18, 362
38, 449
102,151
159, 050
31,814
17, 796
43,098
105, 784
150, 877
33.441
15, 735
37, 423
789, 559
9.4
57,926
756,490
9.7
62.424
881,033
908,016
9.7
55,290
942,749 1,000,920
9.7
10.9
54,162
51,787
1,065,431 1,117, 212
11.9
48,914
49, 678
1,114, 041
9.2
69,397
p-304
10.3
67.218
953, 520 1,054,843
11.8
12.8
49, 592
50,150
53,116
DOMESTIC TRADE
ADVERTISING
Advertising indexes, adjusted:
Printers' Ink, combined index,.
Magazines
Newspapers
Outdoor
Radio
Tide advertising index
1935-39=100._
do_
do_
dodo.
do.
302
342
253
285
317
281.4
284
322
237
255
319
253.5
296
302
277
314
310
277.8
301
334
274
310
303
287.6
318
350
306
296
307
301.2
310
346
280
279
309
284.6
Radio advertising:
Cost of facilities, total
Apparel and accessories
Automotive, incl. accessories
Drugs and toiletries
Electric household equipment
Financial
thous. of doL _
do
do
do
do
do
17,394
132
1,036
4,416
668
333
17, 951
117
772
4,760
651
364
17, 702
146
782
4,650
624
347
16,117
123
612
4,042
601
320
17, 698
124
657
4,616
702
342
do
do
do
do
do
do
4,673
511
176
1,936
1,684
1,829
4,948
613
186
1.955
1, 966
1,618
4,768
636
201
1,708
2,089
1,752
4,493
570
162
1,707
1,914
1,573
do.
dodo_
do~
do.
do_.
do-.
52, 270
4,936
3,907
1.585
5,778
6,940
2,944
39, 209
3, 488
2,756
775
4,681
5,242
3,420
29,115
1,748
2, 309
963
4, 037
4,845
1,744
do
do
do
do
do
do
4,091
3,570
2,537
1,247
1,349
13,387
3,166
1,725
1,584
729
1,351
10, 284
4,145
3,015
Foods, soft drinks, confectionery
Gasoline and oil
Household furnishings, etc
Soap, cleansers, etc...
Smoking materials.
All other
...
Magazine advertising:%
Cost, total
Apparel and accessories
Automotive, incl. accessories
Building materials!
Drugs and toiletries
Foods, soft drinks, confectionery
Beer, wine, liquors§
Household equipment and supplies§
Household furnishmgs§
Industrial materials§
Soaps, cleansers, etc
Smoking materials
All other
Linage, total
thous. of lines,-
308
286.4
302
314
286
296
305
283.2
276
284
264
274
252
257.6
16, 762
119
729
4,240
653
349
17,072
114
809
4,470
683
364
15, 421
75
663
4,285
644
336
12,091
89
332
3,473
222
318
5.006
620
164
1,936
1,946
1,585
4,690
530
169
1,818
1,958
1,506
4,608
460
197
1,852
1,988
1,526
4,127
408
158
1,698
1,961
1,067
2,994
379
148
1,148
1,840
1,150
39, 069
3, 373
3,227
1,286
5,203
6,584
2,066
46,365
5,224
3, 923
1,842
5,610
6,299
2, 435
51,170
5,509
4,705
2,545
5,584
6,479
2,413
50, 659
4,937
4,562
2,427
5, 463
6,396
2,432
40, 642
3,185
3,856
1,774
5,162
5,678
2,215
28, 582
771
3,481
956
4,538
4,938
1,755
1,095
965
1,389
574
1,098
8,349
1, 998
1,617
1,648
1,027
1,205
9,834
3,007
2,272
1,910
1,300
1,334
11, 208
3,861
2.978
2,165
1, 387
1,356
12,187
3,781
3,332
2, 075
1,478
1,455
12,320
2,970
1,712
1,996
1,098
1,345
9,651
3,410
3,921
4,301
4,350
3,806
2,814
338
290
270
297
252
284
256
272.2
292
301
286
299
278
293.2
306
294
305
323
289
284.5
12,163
71
335
' 3, 544
208
287
14,082
96
404
3,829
247
298
16,414
117
485
4,494
189
282
3,073
376
103
1,255
1,738
1,173
4,001
377
112
1,467
1,777
1, 473
4,592
416
128
1,547
2,122
2,041
31. 495
3,436
3,330
917
4,284
4,812
1,614
41, 729
5, 273
3,490
1,789
5, 093
5,665
2,002
51,213
4,919
4,216
2, 001
6, 397
7,568
2,815
1,318
489
1,456
833
1,191
6,858
1,025
956
1,286
1,040
1,348
7,447
2,129
2,633
1,822
1, 141
1,252
9,139
3,326
3,389
2, 133
1, 606
1,634
11,208
2,854
3,494
3,921
4,464
r
r
P287
3, 645
Newspaper advertising:
Linage, total (52 cities)
do
209,199 204, 428 163,977 163, 379 202, 070 205, 466 210, 677 193, 287 164,040
170,504
197, 858
207, 909
214,935
35, 559
42,195
43, 404
45, 386
Classified
do
41, 480
37, 624
38,498
41, 476
40, 082
40, 050
40,713
42, 295
38, 306
Display, total..
do
167, 718 166, 804 125, 479 127, 820 159, 875 162, 062 165, 291 151,811
172, 640
123, 959
157, 808
129, 791
169, 603
7,335
9,791
7,567
5,843
7,362
9,698
9,554
10,033
Automotive
do
9,265
8,224
8,115
9,891
8,887
1, 744
1,999
2,112
2,952
2,236
2,143
2,001
Financial
do
2,039
1,752
2,252
2, 337
2,140
1,609
26, 920
25, 703
21, 955
34, 029
34, 880
General
do
32, 453
33, 758
31, 045
24, 534
29, 766
33, 689
38, 417
21,879
91, 820 113, 914 117,676
123. 273 133,146
Retail
do
93, 210
119, 978 109, 462
118, 066
122, 051
123, 686
89, 057
97, 416
p
Revised.
*> Preliminary.
{Comparable data on magazine advertising cost (Publishers' Information Bureau, Inc.) are available back to January 1948 only. Beginning with the October 1949 SURVEY, five new components are shown (marked with "§"); the total of the two components ''household equipment, etc." and "household furnishings" covers all items formerly included in "electric household
equipment" and "housefurnishings, etc." Data for January-July 1948 for the new components are available upon request.
§See note marked " J " above.
SURVEY OF CURRENT BUSINESS
S-8
Unless otherwise stated, statistics through
1948 and descriptive notes are shown in the
1949 Statistical S u p p l e m e n t to the Survey
1948
November
January 1950
1949
DecemI January
ber
February
March
April
June
May
July
August
September
October
DOMESTIC TRADE—Continued
POSTAL BUSINESS
Money orders:
Domestic, issued (50 cities):
Number
Value
Domestic, paid (50 cities):
N umber
Value
thousands..
thous. of dol..
thousands
thous. of dol..
5,353
97,114 !
20,044
256, 791
5,229
98, 629
4,729
94, 492
4,422
87, 275
5,105
101,312
4,718
91,387
4,318
84, 477
4,743
84,583
4,042
81, 320
3,967
4,175
83, 785
4, 557
88,798
17,235
265, 659
14, 395
227,123
13, 245
209, 374
16, 680
264, 621
14.106
218, 673
13, 971
197,015
14, 711
207, 673
12, 822
185, 481
13, 749
203, 946
13, 592
201,534
14, 005
207, 377
PERSONAL CONSUMPTION
EXPENDITURES
Seasonally adjusted quarterly totals at annual rates:
Goods and services, total
bil. of dol.
178. 5
178.9
178.6
Durable goods, total
do...
Automobiles and parts
,
do...
Furniture and household equipment . . . d o . . .
Other durable goods
do.__
22.9
8.5
10.4
3.9
23.1
9.2
10.2
3.7
23.8
9.8
10.1
3.8
25.8
11.0
11.1
3.7
Nondurable goods, total
Clothing and shoes
Food and alcoholic beverages
Gasoline and oil
Semidurable house furnishings
Tobacco
Other nondurable goods
do.
do.
do.
do.
do.
do.
do.
103.3
20.5
61.
4.3
1.9
4.1
10.8
100.1
19.3
60.0
4.2
2.0
4.1
10.4
99.3
19.1
59.5
4.4
1.8
4.1
10.3
96.5
17.7
58.4
4.4
1.8
4.2
10.0
Services
Household operation
Housing
Personal service
Reereation
Transportation
Other services
do.
do.
do.
do.
do.
do.
do.
54.8
'.9
16.3
3.7
4.1
5.3
17.6
55.4
8.1
16.6
3.6
4.0
5.2
17.9
55.9
8.0
16.9
3.7
4.0
5.1
18.1
56.2
8.1
17. 1
3.7
4.0
5.1
18.3
RETAIL TRADE
All types of retail stores :f
Estimated sales, unadjusted, total 9 -.mil.
Durable-goods stores 9
Automotive group9
Motor-vehicle dealers9
of dol
do._.
do...
do...
P a r t s and accessoriesd"
do._.
Building materials and hardware groupd"
mil. of doL
Building materialsd"
do.. _
F a r m implements
do _ - _
Hardware^ 1
do...
Homefurnishings group <?
d o . _.
Furniture and house furnishingsd"
do...
Household appliances and radiosd^-.-do.-.
Jewelry storesd"
do...
Nondurable-good stores 9
Apparel grouptf1
Men's clothing and furnish in g s ^
Women's apparel and accessories
Family and other appareld"
Shoes
Drug stores
Eating and drinking places9
do _ _.
do...
do...
do...
do.__
do.__
do...
do__.
Food group 9
do
Grocery and combination 9
do
Other food 9
do
Filling stations
do
General-merchandise group §
do
Department, including mail-order§...do
General, including general merchandise
with food
'..
mil. of d o l . .
D r y goods and other general merchandised 1
mil. of dol._
Variety
do
Other retail storesO
do
Liquor©
do
Other§
do
10, 992
3,197
1, 637
1,495
142
13,136
3,497
1.667
1,493
174
9,349
2. 563
1,435
1,324
111
872
552
130
190
576
352
224
112
832
480
109
243
727
419
308
271
621
387
94
140
434
252
182
72
7,795
901
226
422
132
121
296
987
148
191
995
107
8,919
2, 592
1,522
1,420
102
582
357
90
135
420
245
175
10, 526
3, 280
1,989
1,864
126
11,137
3, 469
2,059
1,925
134
10, 763
3,520
2,039
1,898
141
10,809
3. 601
2,093
1, 945
148
10,209
3, 370
2,026
1,880
146
10, 623
3, 631
2,165
2,019
145
10,982
3. 526
2,006
1,872
134
' 11,120
' 3, 596
' 2,011
1,868
' 143
728
438
132
159
489
288
201
73
818
482
148
188
515
307
208
78
855
523
135
197
542
328
214
874
544
139
192
543
320
223
91
788
486
128
173
489
273
216
66
851
563
121
167
541
307
234
75
880
591
114
174
564
316
247
77
••606
116
176
-•603
'333
270
84
' 7, 504
' 806
'186
-•385
112
'122
' 295
961
7, 243
757
178
348
103
127
296
944
7,208
736
192
315
97
132
297
932
6, 839
530
132
226
73
98
296
945
6.992
563
118
268
78
99
293
972
7,456
788
171
373
107
136
288
2, 583
2.072
512
524
1,401
920
2,461
1,961
500
550
1,303
2,491
1,973
518
552
1,270
2, 574
2, 056
518
573
1,058
656
2, 518
1,997
521
557
1, 190
783
2,566
2,036
529
535
1,347
913
140
162
156
154
149
144
146
145
116
153
.,003
137
866
136
184
974
146
828
126
157
932
132
799
123
157
930
130
800
103
151
863
130
733
107
156
899
126
774
125
162
974
138
836
130
'173
960
'148
'812
9, 639
1,270
359
539
198
174
394
1,023
6,786
687
186
303
95
102
293
936
6, 327
578
138
270
80
89
280
853
7,246
754
163
369
103
118
298
937
934
203
437
124
170
300
952
2,762
2,180
582
531
2, 309
1,527
2,439
1,944
495
468
1,050
2,284
1,822
462
442
1,013
657
2,512
2.002
510
500
1,242
832
196
129
123
218
368
1,349
265
1.084
101
131
915
132
783
97
137
877
126
750
' 2, 563
2, 040
522
542
'1,377
'929
r
r
Estimated sales (adjusted), total
do
10, 626
), 790
10,763
), 521
10, 663
10, 686
10, 987
10, 592
10, 824
10,738
10,705
10,644
Durable-goods stores
do
' 3.544
i, 307
3. 201
3, 254
3,018
3, 196
!,324
3, 340
3, 501
3, 320
3, 304
3, 477
1.742
1, 567
Automotive group
do
' 2. 091
1,911
1,779
1.687
,944
1,928
2,070
1,880
1,897
2,077
1, 595
1,641
1,429
Motor vehicles
do
' 1, 951
L, 776
1. 550
,810
1,794
1,938
1,742
1,760
1,944
139
Parts and accessories
do
' 140
136
138
147
137
135
134
132
138
138
134
Building materials and hardware group
873
mil. of doL_
791
804
791
785
796
855
'779
811
783
765
549
Building materials
do
496
496
492
482
492
531
'506
472
506
515
501
188
Hardware
do
176
184
177
171
176
181
191
182
169
166
165
535
528
526
545
Homefurnishings group
do
518
514
528
554
536
544
' 580
527
320
304
306
327
Furniture and housefurnishings
do
306
301
316
331
311
302
'317
300
225
215
220
218
Household appliances and radios
do
211
213
213
223
225
242
264
228
86
101
94
101
Jewelry stores
do
97
97
103
93
90
94
T
Revised.
fRevised series. Dollar estimates of sales for all types of retail stores and for chain stores and mail-order houses have been revised for various periods back to 1943; specific periods for which
the series have been revised are as stated in the notes below. Adjusted dollar values for sales and inventories of all types of retail stores have been substituted beginning with the October 1949
SURVEY for the index numbers formerly shown; monthly data for 1946-48 for both the unadjusted and adjusted series appear on pp. 21-23 of that issue. Unpublished revisions are available
upon request.
9 Revised beginning 1943.
d^Revised beginning 1948.
§Revised beginning 1947.
0Revised beginning 1945.
SURVEY OF CURRENT BUSINESS
January 1050
Unless otherwise stated, statistics through
1948 and descriptive notes are shown in the
1949 Statistical Supplement to the Survey
1948
November
S-9
1949
December
January
February
March
April
July
June
May
August
September
October
November
DOMESTIC TRADE—Continued
RETAIL TRADE—Continued
All types of retail storesf—Continued
Estimated sales (adjusted), total—Continued
Nondurable-goods stores
mil. of dol _
Apparel group
do... _
Men's clothing and furnishings
do...
Women's apparel and accessories
do...
Family and other apparel
do.
Shoes
do.
Drug stores
do.
Eating and drinking places
do.
Food group
Grocery and combination
Other food
Filling stations
General-merchandise group
Department, including mail-order
Other retail stores
Department stores:
Accounts, collections, and sales by type of
payment:
Accounts receivable, end of month:
Charge accounts
1941 average = 100.Instalment accounts
do
Katio of collections to accounts receivable:
Charge accounts
percent..
Instalment accounts
do
Sales b y type of payment:
Cash sales
percent of total sales..
Charge account sales
do
Instalment sales
do
7,401
775
184
351
111
129
305
956
7,483
800
180
379
111
130
310
974
7.418
800
195
365
112
128
298
922
7. 323
771
188
354
105
124
303
924
7,197
705
178
313
99
115
299
928
7,168
693
167
312
96
117
296
916
7,323
735
173
335
104
123
294
918
' 7,082
' 706
165
334
97
' 110
'295
905
7,269
762
180
359
104
119
296
901
2, 509
1,989
521
520
1,386
915
994
2, 546
2,020
526
534
1,334
808
973
2, 553
2, 034
519
528
1,310
854
972
2,533
2,020
513
534
1.360
900
972
2. 532
2,027
506
524
1.368
903
973
2, 520
2, 003
517
526
1.330
880
949
2. 494
1,983
511
526
1.296
864
950
2, 495
1,983
512
522
1,312
878
934
2, 533
2, 026
507
518
1, 339
894
986
' 2, 459
' 1,958
501
512
' 1,263
' 846
943
2, 531
2, 020
512
523
1,291
854
965
14, 659
5, 734
2,122
14, 479
5,675
2,169
14, 700
5, 751
2,150
14,458
5, 669
2, 038
14,139
5, 375
1,841
14,182
5, 357
1,914
13, 862
5, 289
1,917
13,932
5, 333
2, 051
14, 355
5, 580
2 222
' 1 4 475
' 5, 725
' 2, 317
14.262
5. 501
2, 121
1,930
1,241
441
8,925
1, 746
591
449
1,497
326
2,938
1, 378
1,857
1,215
434
8,804
1,747
599
428
1,511
329
2,875
1,315
1,904
1, 234
463
8,949
1,833
602
465
1, 523
329
2,925
1,272
1,938
1,235
458
8,789
1,794
588
426
1, 458
328
2,847
1,348
1,935
1,139
460
8, 764
1,798
581
423
1.488
333
2,787
1,354
1,904
1,086
453
8, 825
1,810
596
423
1,530
347
2, 733
1,386
1,882
1, 039
451
8, 573
1,716
571
402
1, 543
347
2,646
1,348
1,840
993
449
8, 599
1,752
583
398
1,529
324
2, 675
1, 338
1,869
1, 047
442
8,775
1, 806
596
411
1, 552
327
2,767
1, 316
' 1, 870
' 1,112
442
' 8, 750
' 1, 809
' 563
'396
' 1, 550
' 301
' 2, 843
' 1, 288
1,834
1,120
426
8. 761
1,748
589
420
1.477
289
2, 940
1,298
3,028
375
1,968
185
35
86
48
29
61
66
51
19
430
1,856
173
28
85
45
29
54
64
48
19
424
2,186
238
38
120
59
38
70
68
52
22
530
2.401
308
46
148
90
42
85
67
54
24
620
2,240
238
37
116
66
46
93
66
51
26
581
2,226
235
38
108
70
47
99
66
51
25
573
2,095
176
22
88
'52
49
87
69
52
23
501
2,144
180
21
93
52
47
102
66
53
26
562
2, 306
249
41
117
71
41
112
64
50
26
622
2,357
239
38
119
62
44
113
67
52
29
637
2, 338
236
42
113
60
44
99
64
49
29
669
556
144
310
850
231
79
110
807
224
76
116
740
298
92
129
816
368
86
155
848
351
86
132
788
347
82
132
772
301
62
127
797
330
90
132
754
369
105
137
778
381
100
145
812
378
126
155
789
264.8
306. 2
337.2
327.8
429.1
252. 6
239.0
300. 0
228.4
222. 5
243. 5
298.8
267.7
300.6
316.3
284.7
409. 2
242.2
238. 6
292.2
232. 2
226. 4
222.7
291.3
286. 8
302. 2
315.1
271.2
413.0
243.0
241.8
300.2
225. 2
218.1
214.9
290.5
310.6
304.7
328.8
273. 4
441.1
246.9
240. 8
306. 5
229.8
233. 2
229.4
288.8
306.9
308.6
315.4
291.1
404. 5
241.1
248.2
325.1
225.2
221.4
236. 6
304.1
300. 5
301.1
304.3
271.3
392. 5
235. 7
235. 2
325.6
225. 3
223. 7
231.8
293.8
274.7
296.8
284.9
250.1
368.8
220.9
248.0
306. 6
233.8
221.2
244.2
286.2
281.0
300.8
291.0
245.1
374. 9
232. 5
238. 2
321.8
223. 9
224.9
242. 5
295. 8
314. 8
307. 4
313.0
291. 9
396. 6
240. 6
222.5
346. 1
222. 4
214.5
229. 4
300. 7
305.8
293. 8
283.7
228. 5
387.8
210. 6
244.0
336.3
220.0
211.8
241.8
272.9
321.4
300. 9
297.8
264. 7
390.5
224.8
219.9
351.8
215.7
210.7
230. 0
287. 3
351.6
276.5
232. 6
366. 5
345. 4
256.1
229.9
361.1
350.0
246. 8
226. 3
367.1
350.2
244.3
221.2
366.3
369. 6
269.6
226.0
368.7
357. 8
258.7
218.0
358.4
345.2
256.7
215. 0
358.0
360.0
265. 9
217.9
360.8
365. 2
265. 6
225. 6
368.1
329. 4
232.3
212.1
358.8
343.1
255. 8
223. 1
365. 6
219
163
187
157
180
152
190
152
191
153
187
152
163
151
161
155
182
165
' 191
175
*213
p 189
••51
22
'49
'21
'55
'23
'53
'23
' 53
'22
'53
'21
'51
'21
'52
'20
53
20
p 54
v 20
52
41
7
51
42
7
51
42
7
51
41
8
50
42
8
51
42
7
50
40
10
49
42
9
48
42
10
*>48
p 43
226
287
187
216
230
306
223
203
194
209
224
238
272
227
314
180
212
227
315
252
202
192
199
239
261
266
254
339
194
239
254
353
280
241
209
249
274
287
289
295
393
256
280
304
377
311
295
237
284
309
327
331
238
324
173
229
234
333
275
242
171
201
243
280
313
299
381
248
296
282
404
328
307
243
280
328
335
331
'293
395
' 234
271
274
414
'325
314
243
'279
314
331
338
v 339
426
293
324
332
442
*>348
310
293
355
379
378
* 357
14, 969
5,746
1,996
Chain stores and mail-order houses:f
Sales, estimated, total 9
do.
Apparel group
do
Men's wear
do
Women's wear
do
Shoes
do
Automotive parts and accessories
do
Building materials
do
Drug
do
Eating and drinking places
do
Furniture and housefurnishings
do
General-merchandise group
do
Department, dry goods, and general merchandise
mil. of dol_.
Mail-order (catalog sales)
do
Variety
do
Grocery and combination
do
Indexes of sales :f
Unadjusted, combined index 9
1935-39=100..
Adjusted, combined index 9
do
Apparel g r o u p s
do
Men's wearcf
do
1
Women's weard
do
Shoesd*.
do
1
Automotive parts and accessories d
do
Building materials^ 1
do
Drug
do
Eating and drinking placescf
do
1
Furniture and housefurnishingsd
do
General-merchandise groupd*
do
Department, dry goods, and general merchandise d"
1935-39=100..
Mail-order d*
do
Variety d*
do
Grocery and combination
do
Atlanta
Boston
Chicago
Cleveland
Dallas
Kansas City
M inneapolis
New York
Philadelphia.
Richmond
St. Louis
San Francisco
r
Revised.
p Preliminary.
tSee note marked "f" on p. S-8.
7, 485
791
197
356
111
127
313
994
do.__
d o . _.
do...
do.. _
do....
do...
do_ _.
Estimated inventories (adjusted), total
do
Durable-goods stores
do
Automotive group
do
Building materials and hardware group
mil. of doL.
Homefurnishing group
do
Jewelry stores
do
Nondurable-goods stores
do
Apparel group
do
Drug stores
do
Eating and drinking places
do
Food group
do
Filling stations
do
General-merchandise group
do
Other retail stores
do
Sales, u n a d j u s t e d , total U . S
7, 573
875
237
380
124
135
309
981
219
160
1935-39=100—
do.
do.
dodo.
do.
do.
do.
do.
do.
do.
do.
do.
9 Revised beginning 1943.
evised beginning 1948.
287
365
241
277
292
373
306
279
230
277
310
328
'323
268
323
232
262
265
331
284
255
224
256
287
283
314
218
294
155
212
214
310
249
211
155
188
236
254
280
p Q
SURVEY OF CURRENT BUSINESS
S-10
Unless otherwise stated, statistics through
1948 and descriptive notes are shown in the
1949 Statistical Supplement to the Survey
1948
November
January 1950
1949
December
January
February
March
April
May
June
July
August
September
October
November
DOMESTIC TRADE—Continued
RETAIL TRADE—Continued
Department stores-—Continued
Sales, adjusted, total U. S.t
Atlanta*
Boston
Chicago}
Cleveland*
Dallas*
Kansas City*
1935-39 = 100._
do....
do
do
do
I
do_._.
do
r
r
291
374
228
278
293
387
323
Minneapolis*.
. .do . _
286
r
New York
do
!
230
Philadelphia*
do _ J
268
r
Richmond*
do
i
313
St. Louis
do
;
321
r
San Francisco*
do
349
Stocks, total U. S., end of month:*
|
Unadjusted
. . .
do
I
330
Adjusted
do
I
295
Mail-order and store sales:
Total sales, 2 companies
thous. of dol _ 350, 748
Montgomery Ward & Co
do
124,896
Sears, Roebuck & Co
do
225,852
Rural sales of general merchandise:*
Total U. S., unadjusted
1935-39-100..
414.9
East
do
!
418.8
South
do . J
509.9
Middle West. . .
do
383.1
Far West.
do
j
411.1
Total U. S., adjusted
do
!
320.1
East
do . .
299.8
South
do
372.7
Middle West
do....
291.6
Far West
do
317.7
WHOLESALE TRADE
Service and limited-function wholesalers:*
Sales, estimated (unadj.), total
mil. of dol. _
Durable-goods establishments
do
Nondurable-goods establishments
do
Inventories, estimated (unadj.), total
do
Durable-goods establishments
do
Nondurable-goods establishments
___do
6,449
2, 063
4, 386
7, 537
3,083
4,454
289 |
367 i
241 i
282
279 j
378
312
r
269
234
268
304
326
T
334
276
241
277
306
332
325
278 i
219 !
'260
295
309
337
245
256
251
253
274
264
297
270
284, 289
90, 678
193,611
240,126
77, 005
163,121
280, 233
95,517
184,716
316, 387
106, 735
209, 652
315. 329
112, 398
202. 931
272.4
264.0
287.7
262.6
283.2
303.7
294.0
347.0
296.4
316.1
260.1
244.1
273.1
251.5
300.0
293.2
281.2
333.5
283.2
331.5
209.1
183.1
228.2
202.9
249.9
283.7
274.1
326.5
271.8
306.2
263.5
235.9
289.4
250. 3
305.4
287.4
269.0
322.3
270.3
313.2
317.3
285. 3
354.6
305.1
338.4
286.9
275.1
311.6
283.6
295.8
318.4
278.7
384.0
297.6
352. 1
266 2
232. 2
300.5
253. 3
313.3
5,220
1, 754
3,466
6,992
3, 222
3, 770
5,247
1,735
3,512
6,854
3,092
3,762
4,856
1,525
3,331
6.839
2.970
3, 809
5, 551
1, 737
3,814
6,873
2,848
4,015
5,851
1,843
4.008
7,002
2,820
4.182
' 5, 769
1,842
•• 3, 927
r
7, 009
' 2. 736
4, 273
303
378
245
295
300
397
320
295
378
246
289
311
387
293
282
374
234
272
284
393
311
278
365
208
266
279
392
301
294
389
251
277
301
374
314
292
377
243
275
295
384
309
285
368
242
262
281
385
309
279
377
227
258
274
387
304
283
360
234
276
269
366
299
247
284
331
338
358
265
243
283
309
290
343
274
229
265
306
310
309
267
220
272
294
309
325
292
242
274
303
321
339
273
239
271
315
335
340
266
238
269
311
314
336
261
222
261
326
325
323
260
288
250
278
265
276
287
283
285
278
277
273
256
265
431,601
150, 960
280,641
205, 902
66, 689
139,213
196, 656
68,316
128, 340
258,692
89,179
169, 513
295, 754
101,110
194, 644
292, 936
100, 334
192, 602
446.8
422.9 I
513.8
427.8 !
517.2
334.4
316.3
386.9
316.0
346.4
239.6
229.3
294.2
221.4
242.6
316.5
302.5
367.8
295.2
329.6
237.0
218.1
278.4
219.8
233.5
283.2
254. 2
302.6
274.8
312.6
260.5
248.8
290.4
251.1
268.2
261.3
248.8
305.7
264.3
298.0
278.4
265.7
302. 5
264. 8
290.0
290.9
267.3
329. 5
271.8
310.2
6,322
1,997
4, 325
7, 325
3,124
4,201
5,472
1,610
3,862
7,412
3, 232
4,180
5,234
1,615
3,619
7,487
3,342
4.145
5,737
1,839
3,898
7,413
3, 392
4,021
5,236
1,765
3,471
7,217
3,341
3,876
275 i
376
' 211
258
259
398 i
-301 ;
367
234
262
266
362
* 300
EMPLOYMENT AND POPULATION
POPULATION
Population, continental United States :§
Total, including armed forces
thousands __
Civilian population
do
147, 610
146,171
147,838
146, 381
148,051
146, 578
148, 245
146, 731
148, 430
146, 921
148, 639
147,145
148,823
147,354
149,014
147, 546
149,215
147, 752
149, 452
147, 983
149, 703
148, 244
149, 947
148, 502
150.183
148, 747
108, 948
53, 587
55,361
109,036
53, 624
55, 412
109,117
53, 658
55,459
109,195
53, 689
55, 506
109, 290
53, 730
55, 560
109,373
53, 764
55, 609
109, 458
53, 799
55, 659
109, 547
53, 837
55, 716
109,664
53,898
55,766
109, 760
53, 939
55, 821
109, 860
53, 984
55, 876
109. 975
54, 036
55, 939
110,. 63
54, 075
55, 988
Total labor force, including armed forces.. __do
Armed forces
do
Civilian labor force, total
do
Male
do
Female
do
Employed
do
Male
do
Female
do
Agricultural employment
do
N onagri cultural employment
do
Unemployed.
do
63,138
1,414
61, 724
43, 782
17, 942
59, 893
42, 551
17,342
7,961
51, 932
1,831
62, 828
1,453
61,375
43, 573
17, 802
59, 434
42,162
17, 272
7,375
52, 059
1,941
61, 546
1,468
60, 078
43,161
16. 917
57, 414
41,150
16, 264
6,763
50, 651
2,664
61, 896
1,508
60,388
43, 229
17,159
57,168
40, 812
16, 356
6,993
50,174
3.221
62,305
1,491
60, 814
43,525
17, 289
57, 647
41,092
16, 555
7,393
50, 254
3,167
62,327
1,492
60, 835
43, 668
17,167
57, 819
41,463
16, 356
7,820
49, 999
3,016
63,452
1,469
61, 983
43, 886
18,097
58, 694
41, 521
17,173
8,974
49, 720
3,289
64, 866
1,468
63,398
44, 832
18. 566
59, 619
42, 233
17,386
9,696
49, 924
3,778
65, 278
1,463
63, 815
45, 267
18,548
59, 720
42, 422
17, 298
9,647
50, 073
4,095
65,105
1,468
63, 637
45,163
18, 474
59,947
42, 644
17,303
8,507
51, 441
3,689
64, 222
1,459
62,763
44, 319
18,444
59, 411
42, 085
17, 326
8,158
51, 254
3,351
64, 021
1. 445
62, 576
43. 988
18, 588
59, 001
41, 426
17, 575
7,710
51, 290
3,576
64, 363
1,436
62, 927
44,099
18, 828
59, 518
41, 783
17, 735
7.878
51,640
3,409
Not in labor force
45, 810
46,208
47, 571
47, 298
46, 985
47,046
46,006
44, 683
44,385
44, 655
45, 638
45, 953
45, 701
EMPLOYMENT
Employment status of noninstitutional population:
Estimated number 14 years of age and over,
total
thousands. _
Male
do
Female
do
do.
Employees in nonagricultural establishments :t
Total, unadjusted (U. S. Dept. of Labor)
thousands __
45, 282
43, 449
44, 815
43,061
42,731
42,835
42, 918
42, 966
42, 573 r 42,994
«• 43, 464 r 42,607 p 42.695
T
Manufacturing
do
14,782
15,368
15,174
14, 649
14, 475
14.177
13, 884
13,757
13, 877
14,114
••14,312
r 13.903 p 13, 741
r
r
Durable-goods industries
do.
7, 923
7,819
8,044
8,352
8,258
7,656
7,441
7,392
7,255
7, 302
7, 416 r 7, 006
» 7.019
r
Nondurable-goods industries
do
7,016
6,916
6,738
6,521
6,492
6,726
6, 656
6,502
6,436
6, 812
r 6, 896
' 6, 897 P 6. 722
r
Mining, totaL _ _
_
_ do.
1,002
956
943
984
974
968
986
981
991
999
'593
948
* 927
Metal
do.""
'64
92
95
94
103
101
100
101
102
98
97
99
p 68
r
Anthracite
do...
76
76
78
77
77
80
79
81
80
80
76
76
Bituminous coal
do.
422
410
425
446
438
431
455
448
458
458
461
'101
M36
Crude-petroleum and natural-gas production
thousands __
263
264
260
258
257
259
262
260
264
260
263
256
r
Nonmetallic mining and quarrying
do
v 94
99
99
97
98
98
93
95
94
101
99
98
96
r
r
Contract construction
do
2,287
2,200
2,016
1,926
1,947
2,036
2,137
2,205
' 2, 341
2,277
2, 341
2,
310
P 2, 245
r
r
T
Transportation and public utilities
do
3,991
4,021
4,031
4,024
3, 975
4,054
4,166
4,158
3, 992
4,007
3, 959
3, 873
* 3, 896
Interstate railroads
do
1,414
1,370
1,440
1,517
1,504
1,387
1,416
1,381
1,410
1,375
1,339
1 ?58
Local railways and bus lines
do
158
161
159
159
161
160
161
162
162
157
157
157
Telephone
do
625
638
633
644
641
639
637
644
641
643
644
619
Telegraph
do
50
52
52
55
55
55
53
56
57
58
58
49
Gas and electric utilities
do
514
519
515
520
521
505
507
509
504
503
503
505
r
Revised.
v Preliminary.
-,n,,o*T£e ^Justed indexes of department-store sales have recently been revised; unpublished revisions available upon request are as follows: Atlanta, 1944-April 1948; Chicago 1945-A.pril
1948; Cleveland and Minneapolis, 1946-March 1948; Kansas City, 1945-March 1948; Philadelphia, 1944-March 1948; "Richmond, 1946-May 1948. Current revisions for Dallas and San Francisco are tentative, pending completion of the revision for earlier periods. Department-store sales indexes for the United States reflect all revisions in the districts and, therefore are subject
to further adjustment. Recent revisions of data on department-store stocks, by districts, are reflected in the U. S. total which is also subject to further revision The indexes of rural sales
SURVEY OF CUERENT BUSINESS
January 1950
Unless otherwise stated, statistics through
1948 and descriptive notes are shown in the
1949 Statistical Supplement to the Survey
1949
1948
November
S-ll
December
January
February
March
April
June
May
July
August
September
October
November
EMPLOYMENT AND POPULATION—Continued
EMPLOYMENT—Continued
Employees in nonagricultural establishments1)—
Continued
Unadjusted (U. S. Dept. of Labor)—Continued
Trade
thousands _
Wholesale trade
do...
Retail trade
do. _ .
General-merchandise stores
do___
Food and liquor
do
Automotive and accessories dealers__.do_._
Finance
do._.
Service
do...
Hotels and lodging places
do.__
Laundries
do___
Cleaning and dyeing plants
do__.
Government
do...
Total, adjusted (Federal Reserve)
Manufacturing
Mining
Contract construction
Transportation and public utilities
Trade
Finance
Service
Government
do.
do.
do..
do.
do.
do.
do..
do_.
do_.
Production workers in manufacturing industries:!
Total (U. S. Dept. of Labor).
thousands..
Durable-goods industries
do
Ordnance and accessories
do
Lumber and wood products (except furniture)
thousands..
Sawmills and planing mills
do
Furniture and
fixtures
do
Stone, clay, and glass products
do
Glass and glass products _
do
Primary metal industries
do
Blast furnaces, steel works, and rolling
mills
thousands..
Primary smelting and refining of nonferrous metals
thousands.
Fabricated metal prod, (except ordnance, machinery, transportation equipment)__thous
Heating apparatus (except electrical) and
plumbers' supplies
thousands..
Machinery (except electrical)..
do
Electrical machinery
.do
Transportation equipment.
do
Automobiles
do
Aircraft and parts
do
Ship and boat building and repairs
do
Railroad equipment
do
Instruments and related products
do
Miscellaneous mfg. industries
do
Nondurable-goods industries
do
Food and kindred products
do
Meat products
do
Dairy products
.do
Canning and preserving
do
Bakery products
do
Beverages
__.do
Tobacco manufactures
do
Textile-mill products
do
Broad-woven fabric mills
do
Knitting mills
do
Apparel and other finished textile products
thousands..
Men's and boys' suits and coats
do
Men's and boys' furnishings and work
clothing
thousands..
Women's outerwear
do.. _.
Paper and allied products
do
Pulp, paper, and paperboard mills...do
Printing, publishing, and allied industries
thousands..
Newspapers
do
Commercial printing
do
Chemicals and allied products
do
Industrial organic chemicals
do
Drugs and medicines
do
Paints, pigments, and
fillers
do
Products of petroleum and coal
_ .do
Petroleum refining
do
Rubber products
do
Tires and inner tubes
do
Leather and leather products
do
Footwear (except rubber)
do
9,807
2,612
7,195
1,647
1.197
10,273
2, 595
7,678
1,990
1,208
9,388
2,559
6,829
1,423
1,186
9,292
2,541
6,751
1,386
1,184
9,310
2,523
6,787
1,411
1,193
9,478
2,504
6,974
1, 515
1,204
9,342
2,482
6,860
1, 434
1, 203
9,336
2,491
6,845
1,401
1,208
9,220
2,472
6,748
1,356
1,201
1,721
4,782
1,724
4,757
1,731
4,723
1,735
4,712
1,749
4,720
1,757
4,768
1,763
4,804
1,774
4,834
1,780
4,851
654
458
351
147
668
461
350
145
653
447
351
144
647
447
346
142
648
445
346
144
658
451
347
150
661
464
353
153
670
487
361
154
679
511
364
151
' 9, 213
r
2, 515
6, 698
' 1,337
r
1,181
'688
' 1, 780
'4,836
504
358
144
r
' 9, 409
2,538
' 6, 871
1,428
1,191
'692
r
1, 770
' 4,832
'474
'356
147
5,893
' 9, 503
2 549
' Q, 954
1,487
' 1, 202
'696
r
1, 767
' 4, 792
450
350
147
5,866
' 43,068
' 14,109
944
' % 188
' 3, 939
' 9, 453
' 1, 779
' 4, 784
5, 872
' 42,173
' 13, 721
581
r 2, 200
r 3, 879
' 9, 384
' 1, 785
r
4, 768
5,845
P 42, 294
p 13, 627
P926
v 2, 201
v 3, 899
* 9, 279
» 1, 782
v 4, 760
r> 5, 820
' 11, 770
'6,062
18
'11,382
' 5, 676
18
» 11, 215
* 5, 683
17
5,685
5,994
5,764
5,737
5,761
5,775
5,813
5,803
5,738
5,763
44, 403
15, 250
43, 881
14, 816
43, 657
14, 671
43, 445
14, 501
43, 263
14, 316
43,027
14, 095
42, 896
14,007
42, 711
13, 917
' 42, 864
' 13,979
2,242
4,170
9,500
1,738
4,782
5,723
44, 276
15,055
1,003
2,245
4,158
9,537
1,741
4,781
5,756
2,215
4,090
9,479
1,740
4,771
5,773
2,164
4,059
9,465
1,744
4,784
5,775
2,140
4,008
9,497
1,749
4,792
5,771
2,121
4,008
9,516
1,748
4,792
5,775
2,116
4,024
9,475
1,754
4,804
5,784
2,100
4,003
9,456
1,756
4,786
5,823
2,128
3,968
9,368
1,755
4,777
5,846
' 2,167
'r 3, 947
9,420
'r 1, 762
4, 788
5,852
12,775
6,942
12, 578
6,845
12,201
6,640
12,074
6,523
11,904
6,417
11,616
6,262
11,324
6,057
11, 337
6,022
11,211
5,894
' 11, 561
' 5, 947
24
24
24
23
23
23
21
21
19
18
754
443
305
457
120
720
420
297
451
117
667
387
284
436
112
655
380
278
429
110
659
385
274
423
107
659
389
268
416
105
1,101
1,090
1,077
1,062
1,028
686
410
257
409
105
971
676
407
253
400
101
934
••686
' 414
1,099
672
399
259
414
106
991
263
412
107
932
685
'416
'277
'413
107
940
'691
415
'284
'410
107
'574
547
551
550
553
552
545
534
523
506
498
500
141
998
997
995
987
987
975
965
939
949
» 9, 579
» 2, 530
v 7, 049
v 1, 572
* 1,199
P700
P 1, 764
p 4, 760
v 5, 783
P691
V728
47
46
46
46
47
47
45
45
42
41
42
39
816
801
767
752
729
706
683
679
671
688
'708
'684
92
939
505
100
109
'935
'531
'1,017
'686
191
74
'56
172
366
116
'923
'549
'986
665
188
69
53
' 174
'383
' 5, 706
' 1, 268
236
104
230
198
149
92
' 1,168
565
227
p 5, 532
1,178
211
' 5, 708
' 1, 337
230
' 110
' 319
196
157
94
' 1,131
547
219
1,001
140
131
117
112
108
103
97
94
1,187
1,179
1,155
1,133
1,108
1,066
1,014
977
1,046
1,048
1,038
1,021
1,017
1,012
650
669
183
108
72
198
406
5,833
1,226
235
104
173
197
167
97
1,245
610
225
643
670
186
106
72
196
385
5,733
1,171
247
luu
147
196
157
93
1,236
607
220
623
665
190
102
72
190
366
5,561
1,097
240
99
118
190
146
90
1,200
590
212
607
649
190
100
72
185
363
5,551
1,073
231
100
108
189
145
88
1,190
582
214
585
646
192
98
72
183
354
5,487
1,069
226
103
110
185
149
85
1,150
558
211
560
649
192
93
69
181
343
538
955
601
187
92
67
177
333
518
995
646
187
88
66
176
333
5,354
1,071
5,267
1,095
5,315
1,153
217
108
125
186
140
82
1,100
530
207
221
115
131
188
148
82
1,087
526
202
226
122
169
192
152
84
1,083
525
203
1,014
670
192
86
59
170
313
5,317
1,224
227
122
220
191
169
82
1,057
518
200
••927
'507
'998
'678
185
'80
'47
'169
'347
' 5, 614
'1,350
229
116
'339
194
165
91
1,092
'530
1,058
1,040
1,015
1,055
1,051
1,008
135
135
135
139
137
134
956
118
959
122
942
116
1,040
'131
' 1, 079
133
' 1, 079
129
246
315
412
211
236
315
409
210
225
314
398
208
241
324
391
204
242
318
386
201
241
289
377
196
239
257
372
194
236
258
369
192
221
263
365
188
' 235
' 306
246
'317
384
197
251
307
'391
199
508
138
167
529
166
60
47
192
149
209
94
357
224
509
139
170
526
165
60
46
189
149
206
93
354
228
500
136
169
519
163
62
45
187
149
201
91
354
233
497
137
166
513
162
62
45
188
150
197
89
359
235
496
139
164
511
157
61
44
187
149
194
89
358
234
495
140
163
495
148
61
44
188
149
190
89
348
228
494
141
162
476
142
60
43
188
149
185
87
332
216
494
142
163
464
139
60
43
189
150
181
86
339
223
485
141
162
453
136
59
41
189
150
177
82
342
226
'486
' 141
493
144
163
478
140
61
42
190
'149
'168
64
'354
230
498
145
167
'488
141
62
44
'185
148
' 187
81
'350
224
371
191
161
458
135
60
42
190
150
180
81
'356
234
»916
P551
*>882
* 1,177
P497
185
Manufacturing production-worker exmployment
index, unadjusted (U. S. Dept. of Labor) f
153.5
148.9
155.9
147.4
145.3
138.4
138.2
141.8
1939=100..
136.9
141.1
' 143. 7
' 138. 9
v 136. 9
Manufacturing production-worker employment
152.1
149.3
147.6
154.5
143.4
139.9
145.6
140.8
index, adjusted (Federal Reserve)t
1939= 100. .
138.9
136.8
139.6
141.3
v 135. 6
' Revised.
* Preliminary.
tRevised series. Beginning with the October 1949 SURVEY, the indicated series on employment, pay rolls, and hours and earnings have been revised to incorporate three major changes:
(1) adoption of the current Standard Industrial Classification; (2) reclassification of reporting establishments on the basis of major postwar product or activity; (3) adjustment to 1947 benchmark levels and a revision in estimating production-worker employment. Revised data on employees in nonagricultural establishments (unadjusted) by major groups are shown on p. 24
of the November 1949 SURVEY. The Federal Reserve adjusted figures for total nonagricultural and manufacturing employment and the adjusted indexes for manufacturing production workers
were further revised in the December 1949 SURVEY. All unpublished revisions are available upon request.
SURVEY OF CURRENT BUSINESS
S-12
Unless otherwise stated, statistics through
1948 and descriptive notes are shown in the
1949 Statistical Supplement to the Survey
1948
November
January 1950
1949
December
January
February
March
April
May
June
July
August
September
October
November
EMPLOYMENT AND POPULATION—Continued
EMPLOYMENT—Continued
Miscellaneous employment data:
Federal and State highways, total§— number..
Construction (Federal and State)
do
Maintenance (State)
do
Federal civilian employees:
United States.
thousands-.
District of Columbia
do
Railway employees (class I steam railways):
Total
thousands..
Indexes:
Unadjusted.
-.1935-39=100..
Adjusted
do
259,338
99,158
117, 706
227,808
69,381
112, 519
207,943
52,207
110,216
203,088
48, 744
109,014
214,405
59, 507
108,618
238,605
80,881
111, 169
268, 525
106, 743
113,965
295,071
124, 025
120,469
314, 414
137,965
124,931
327, 536
146,144
128, 631
313.625
136 368
125,032
302,399
129, 764
122,022
1,896
212
1,899
212
1,901
212
1,900
213
1,908
214
1,922
215
1,933
216
1,929
217
1,923
217
1,915
214
1,886
213
1,846
211
1,360
1,339
1,285
1,261
1,228
1,245
1,267
1,261
1,238
1,231
1,196
» 1,115
130.2
129.1
127.9
129.9
123.0
127.9
120.6
123.6
117.3
120.3
119.1
121.0
121.2
121.7
120.6
119.0
118.4
116.0
117.8
115.4
114.2
111.5
v 106. 8
* 103.3
362.8
360.7
345.9
340.4
332.8
319.2
312.8
315.8
312.9
' 323.0
'335.0
321.3
40.4
41.9
40.1
40.7
41.4
39.5
40.1
40.9
39.4
39.9
41.3
39.1
39.5
39.6
38.4
39.0
36.7
38.6
39.0
40.3
39.2
39.7
38.8
38.8
40.3
39.1
'39.3
39.7
39.6
39.7
40.3
39.8
'40.1
41.2
41.0
40.7
40.6
38.8
40.3
41.0
40.8
41.2
41.0
39.7
40.3
40.7
40.8
39.4
40.1
39.3
40.0
39.5
39.3
39.8
40.4
39.9
39.8
40.3
40.2
39.6
39.9
39.1
39.0
40.5
40.6
38.7
39.3
38.2
38.4
41.1
41.1
38.5
39.6
39.1
38.0
40.7
40.7
39.0
39.4
38.9
37.6
39.4
39.3
38.6
38.7
37.9
36.9
40.7
'40.8
40.5
39.6
39.0
37.6
40.
'40.6
41.3
39.7
' 38. 3
37.7
37.6
40.0
39.8
40.0
39.9
39.5
39.4
38.7
37.7
36.4
37.6
37.2
34.1
40.4
41.0
41.0
40.8
41.0
41.3
40.7
40.5
39.1
39.4
39.6
40.7
40.7
41.0
40.1
39.7
39.5
38.7
39.0
39.2
39.3
'39.6
'40.1
39.9
40.0
40.8
40.3
39.0
38.8
41.4
34.7
39.7
39.9
41.0
40.2
41.1
40.4
40.1
39.7
41.4
39.0
41.5
40.0
41.0
38.1
40.5
39.7
39.9
39.8
40.5
39.0
40.8
40.0
40.2
37.2
40.4
39.6
39.8
39.5
41.2
38.5
40.7
39.8
40.3
37.6
39.9
39.1
38.6
37.7
40.7
38.9
39.9
39.7
40.2
39.1
38.5
38.7
38.6
39.4
38.2
38.6
39.3
39.0
37.1
39.2
38.8
38.2
37.3
40.5
38.1
39.2
39.5
39.0
37.3
39.2
39.0
39.5
39.4
40.5
38.4
39.0
39.2
39.4
37.7
39.0
38.7
39.9
40.3
39.9
38.4
37.7
39.0
39.0
'39.5
39.1
'39.1
'39.7
39.9
'40.2
' 37.3
'40.0
39.0
'38.9
'40.3
'39.3
40.0
40.1
40.4
'40.6
37.7
'38.1
' 39. 5
' 40. 2
41.2
39.1
40.4
39.1
39.0
40.4
39.2
41.8
42.9
44.9
35.6
41.9
42.1
37.9
38.0
38.4
37.1
39.3
41.9
44.1
44.7
36.5
41.9
41.2
38.3
38.4
38.7
36.5
38.7
41.5
42.9
44.8
36.8
40.9
40.2
36.2
37.5
37.7
35.7
41.3
41.2
45.0
38.2
42.1
40.3
35.4
37.7
37.8
36.3
38.6
40.9
40.3
44.4
37.2
41.4
40.8
36.1
37.2
36.8
36.5
37.6
40.6
39.9
44.6
36.5
42.0
40.9
34.7
35.7
35.2
35.1
38.1
41.3
40.7
45.2
37.4
42.1
41.8
35.7
35.4
34.6
35.3
38.5
41.6
40.4
45.8
38.3
42.2
42.1
38.0
36.3
35.7
36.2
38.7
42.2
41.8
45.7
39.7
42.2
42.7
37.4
36.6
36.3
36.3
38.9
41.7
41.0
45.0
40.8
'41.5
'41.4
38.7
37.6
37.6
37.0
'39.6
41.7
'41.5
44.4
••40.0
42.0
40.5
'38.9
'38.6
38.5
37.8
41.5
40.5
'38.2
'39.5
39.6
39.0
36.0
35.5
35.7
35.3
35.3
35.4
36.2
36.5
36.3
36.7
34.4
34.5
35.5
34.2
35.4
33.3
35.4
33.4
'35.7
'33.5
36.9
35.5
'36.6
34.4
35.5
35.2
42.9
43.9
34.8
35.2
42.6
43.3
34.2
35.1
41.6
42.7
35.6
35.8
41.2
42.0
36.4
35.4
41.0
41.7
35.2
33.4
40.3
41.2
36.1
35.0
40.4
41.1
35.8
34.6
40.7
41.1
36.4
'34.4
'41.8
'42.6
37.0
35.8
'42.7
'43.1
37.4
34.3
43.1
43.7
39.2
37.7
40.1
41.7
40.3
40.9
41.6
40.4
40.0
38.7
36.2
35.7
34.3
38.5
40.7
41.8
40.3
41.2
41.3
40.4
40.4
38.5
35.6
37.1
36.5
38.6
36.9
40.1
41.1
39.6
40.7
40.9
41.2
41.5
37.9
35.3
37.2
36.9
37.1
39.6
41.0
39.9
40.6
40.7
39.9
39.9
37.7
35.4
37.7
37.3
38.6
37.1
39.6
40.9
39.4
40.7
40.5
40.0
40.0
37.0
35.8
37.5
37.2
38.4
37.6
39.3
40.6
38.8
40.1
41.1
40.1
39.8
36.9
35.4
35.8
35.1
38.7
37.8
39.7
40.7
39.2
40.4
40.7
40.7
40.5
37.7
36.3
35.1
34.0
38.7
37.4
40.0
40.8
39.2
40.2
41.2
40.2
39.9
38.2
36.6
36.5
36.0
36.1
33.9
41.1
41.8
38.6
37.1
39.8
40.6
39.3
40.0
40.9
40.7
40.4
38.4
36.6
37.0
36.8
38.5
36.8
39.6
40.5
39.2
'40.0
41.1
40.3
39.8
'38 3
'36.0
'37.2
'36.7
'39.1
37.5
39.8
' 41. 4
39.8
40.4
41.5
41.1
40.5
40.3
39.1
' 36.8
36.0
'38.4
37.4
39.0
'41.7
39.9
40.5
41.4
41.0
40.3
39.4
37.3
36.4
35.1
42.4
33.4
37.2
43.0
34.0
39.0
42.1
36.0
39.2
42.4
26.1
37.9
43.3
25.0
36.4
42.6
30.6
37.4
42.2
34.1
37.5
40.6
23.4
30.7
39.4
35.0
25.1
'39.5
23.4
26.1
'39.6
'31.6
'27.2
40.5
38.8
32.0
39.6
44.4
37.1
39.1
36.4
40.0
44.3
38.5
40.7
37.8
41.1
42.7
37.5
39.5
37.0
42.3
37.3
39.7
36.5
39.6
42.5
36.9
39.5
36.1
39.9
43.3
37.3
40.1
36.4
40.6
44.3
38.5
41.7
37.2
39.7
43.8
38.5
41.9
37.1
40.3
43.4
40.1
44.3
'38.7
42.4
'37.2
40.4
'43.4
37.7
'40.9
36.4
41.4
44.2
38.3
41.8
36.9
PAY ROLLS
Manufacturing production-worker pay roll index,
unadjusted (U. S. Dept. of Labor)t--1939=100-..
LABOR CONDITIONS
Average weekly hours per worker (U. S. Dept. of
Labor) :f
All manufacturing industries
hours..
Durable-goods industries
..do
Ordnance and accessories..
.-do.--.Lumber and wood products (except furniture)
hours..
Sawmills and planing mills
do
Furniture and
fixtures
do
Stone, clay, and glass products
do.
Glass and glass products.
do
Primary metal industries
do
Blast furnaces, steel works, and rolling mills
hours.Primary smelting and refining of nonferrous
metals.
hours..
Fabricated metal prod, (except ordnance, machinery, transportation equipment), .hours.
Heating apparatus (except electrical) and
plumbers' supplies
hours.
Machinery (except electrical)
do
Electrical machinery
do
Transportation equipment
do
Automobiles
do
Aircraft and parts
do
Ship and boat building and repairs.-.do
Railroad equipment
do
Instruments and related products
do
Miscellaneous mfg. industries
do
Nondurable-goods industries
Food and kindred products
Meat products
Dairy products
Canning and preserving
Bakery products
Beverages
Tobacco manufactures
Textile-mill products
Broad-woven fabric mills
Knitting mills
do.
do
do...
do...
do...
do...
do._.
do...
do...
do...
do...
Apparel and other finished textile products
hours.
Men's and boys' suits and coats
do
Men's and boys' furnishings and work
clothing
hours.
Women's outerwear
do__.
Paper and allied products
do_._
Pulp, paper, and paperboard mills---do._Printing, publishing, and allied industries
hours.
Newspapers
do._.
Commercial printing
do
Chemicals and allied products
do__.
Industrial organic chemicals
do
Drugs and medicines
do
Paints, pigments, and
fillers
do
Products of petroleum and coal
_. _ do...
Petroleum refining
do...
Rubber products
do._.
Tiresand inner tubes
do.-.
Leather and leather products
do
Footwear (except rubber)
do...
Nonmanufacturing industries:
Mining:
Metal
hours.
Anthracite
do...
Bituminous coal
do...
Crude-petroleum and natural-gas production:
Petroleum and natural-gas production
hours.
Nonmetallic mining and quarrying
do
Contract construction
do.._
Nonbuilding construction.
do.. .
Building construction..
do...
'Revised.
* Preliminary.
§Total includes State engineering, supervisory, and
tReyised series. See note marked "f" on p. S-ll.
administrative employees not shown separately.
42.2
37.1
39.7
41.7
*39!6
38.5
39.9
'40.6
'39.6
'41.8
40.9
44.2
40.0
.37.1
,39.1
P38.5
P37!9
SURVEY OF CURRENT BUSINESS
January 1950
Unless otherwise stated, statistics through
1948 and descriptive notes are shown in the
1949 Statistical Supplement to the Survey
1948
November
S-13
1949
December
January
February
March
April
May
June
July
August
September
October
November
EMPLOYMENT AND POPULATION—Continued
LABOR CONDITIONS—Continued
Average weekly hours per worker, etc.f—Continued
Nonmanufacturing industries—Continued
Transportation and public utilities:
Local railways and bus lines
hours..
Telephone
do
Telegraph
do
Gas and electric utilities
do
Trade:
Wholesale trade
do
Retail trade:
General-merchandise stores
do
Food and liquor
do
Automotive and accessories dealers.__do
Service:
Hotels, year-round
___do
Laundries
do
Cleaning and dyeing plants
do
Industrial disputes (strikes and lock-outs):
Beginning in month:
Work stoppages
number,.
Workers involved
thousands..
In effect during month:
Work stoppages. _
numberWorkers involved
thousands..
Man-days idle durkig month
do
Percent of available working time
U. S. Employment Service placement activities:
Nonagricultural placements
thousands..
Unemployment compensation (Soc. Sec. Admin.):
Initial claims
thousands..
Continued claims
do
Benefit payments:
Beneficiaries, weekly average
do
Amount of payments
thous. of dol.
Veterans' unemployment allowances:
Initial claims
thousands..
Continued claims
do
Claims filed during last week of month. __do
Amount of payments
thous. of dol..
Labor turn-over in manufacturing establishments:
Accession rate.. .monthly rate per 100 employeesSeparation rate, total
thousandsDischarges
do
Lay-offs
do
Quits.
do
Military and miscellaneous
do
45.6
39.4
44.4
41.7
45.2
38.2
45.3
41.3
44.9
38.6
45.2
41.3
46.0
38.4
45.0
41.3
45.1
38.5
45.4
41.3
'44.7
38.4
45.1
41.4
'44.3
38.6
44.5
41.4
44.4
38.7
44.5
41.7
40.6
40.6
40.7
40.6
40.8
r
36.1
39.7
45.7
36.6
40.0
45.7
36.3
39.7
45.8
33. 8
40.4
45.5
37.2
41.1
45.6
44.0
41.5
40.0
44.5
41.5
40.5
44.2
41.8
42.4
44.7
42.4
42.7
44.1
41.6
42.3
225
70
400
110
800
.1
225
80
275
500
400
175
450
250
350
120
650
.1
400
540
3,600
.5
500
225
1,800
.3
600
320
3,200
.5
45.9
38.7
44.1
41.8
45.1
38.4
44.3
41.8
45.1
38.6
44.5
41.4
45.2
38.3
44.7
41.5
40.9
41.0
40.8
40.5
35.8
39.8
45.2
37.5
40.2
45.4
36.5
39.8
45.4
36.3
40.0
45.5
44.2
41.7
40.7
44.2
42.0
41.2
44.1
42.1
40.9
216
111
144
41
283
93
713
.1
189
1,910
.3
422
339
276
327
956
3,953
1,323
5,175
1,554
6,544
1,300
7,111
1,458
8,754
731
62,151
79, 966
1,213
103,011
1,468
115, 268
256
1,124
259
20,088
383
1,578
355
27,997
450
2,206
571
39,849
3.9
4.1
.4
1.4
2.2
.1
2.7
4.3
.3
2.2
1.7
.1
55.60
59.11
59.50
'40.7
40.8
37.2
41.1
45. 6
'36.6
40.2
' 45.6
36.1
40.3
45.9
44.1
41.5
41.0
•"44.2
40.8
'39.5
43.9
41.2
'41.9
44.0
41.2
41.6
375
575
300
110
375
150
275
510
250
600
550
660
4,600
6
525
225
2,100
.3
550
250
2,000
.3
475
610
6,350
.9
425
1,000
19, 000
2.7
r
40.7
*>875
v 7, 500
v 1.0
403
400
369
452
466
416
350
1,662
8,366
1,522
8,778
1,383
7,467
1,252
8,353
1,013
7,084
' 1, 363
r
8, 363
1,545
7,584
1,786
152, 204
1,800
7,886
1,598
136, 558
1,718
146, 712
1,809
154, 695
1,717
148, 767
r
1,952
170, 629
1, 744
154, 079
r
1, 528
135, 707
1,698
152,170
372
2,551
647
47,103
376
3,130
678
60, 766
299
2,608
624
50, 423
331
2,358
553
44,618
446
2,486
548
45, 797
279
2,569
606
48, 939
52
936
219
24,135
31
385
95
8,775
31
265
64
5,462
3.2
4.6
.3
2.5
1.7
.1
2.9
4.1
.3
2.3
1.4
.1
3.0
4.8
.3
2.8
1.6
.1
2.9
4.8
.2
2.8
1.7
.1
3.5
5.2
.2
3.3
1.6
.1
4.4
4.3
.2
2.5
1.6
.1
3.5
3.8
.2
2.1
1.4
.1
4.4
4.0
.3
1.8
1.8
.1
'4.1
4.2
.2
'1.8
'2.1
.1
3.6
4.0
.2
2.3
1.4
.1
56.14
59.67
58.62
55.50
58.83
58.08
55.20
58.49
59.22
54.74
57.83
57.90
53.80
57. 21
54.13
54.08
57.21
59.32
54.51
57.82
58.72
54.63
57.31
59.64
' 54. 70
r
57.89
r
58. 44
52.53
52.52
50.02
55.18
55.91
64.08
51.13
51.24
50.76
55.72
57.45
64.12
49.82
50.59
48.34
54.50
57.30
63. 72
48.03
48.73
48.99
55.02
63.16
50.21
50.85
48.87
54.18
56.97
61.70
51.52
52.29
47.60
53. 37
55.39
60. 83
52.94
53.76
47. 59
53. 90
56. 81
60.08
52. 91
53. 56
48.36
53. 58
55. 98
59.82
50. 75
51.25
47.86
52. 94
55. 22
58. 63
' 52.
53.
' 49.
54.
5(5.
r
59.
66.16
65.87
66.24
65.64
64.90
64.69
63.24
62.21
59.88
59.95
61.01
61.91
61.05
60.71
59.00
r
59.10
59.57
58.23
57.72
57.35
56.19
56.67
57.39
57.61
' 58.13
r
59.11
r
59.58
62.80
58.10
66. 21
66.82
64.79
63. 34
68.89
55.24
51.78
55.97
61.72
57.01
66.23
67.74
63.18
63.30
66.50
55. 36
50. 77
54. 94
61.57
57.02
65.79
66. 91
64. 52
61.99
65. 53
55. 28
50.86
55. 57
60.85
56. 50
63.19
62. 96
63.41
62.98
64.76
55.18
50.17
53.99
59.55
55. 59
63. 58
64.77
60. 99
62.50
62. 42
54. 51
48.95
54.61
59. 70
55. 99
63.03
63. 22
62. 98
61.61
63. 39
54.83
48.83
54.72
59.94
56.16
65. 49
66. 94
62. 94
62. 82
62. 71
54.61
49.72
54.85
59. 71
56. 00
66. 27
68. 67
62.08
61.94
60. 32
54. 37
48.75
r
57. 63
59. 86
56. 73
65. 90
67. 78
62.07
60. 05
64. 64
54. 25
48. 51
r
59. 56
60. 44
57. 88
67.13
69. 33
63. 58
61. 00
61.84
55. 22
50. 49
60.93
r
60. 02
58. 01
r
64. 75
65. 87
63. 51
59. 39
02. 37
' 56.14
' 51. 20
51.33
53.07
55.70
54. 59
43.89
51.28
61.54
34.94
45.01
44.83
41.09
51.07
52. 80
55.25
53.77
42.89
50.34
62.75
36.21
44.19
43.28
41.39
49.67
52. 33
54.98
54.10
43.07
51.07
62.29
35.15
42.20
41.08
39.87
50.41
53. 44
56.17
54.47
43. 65
51.61
64.54
36.27
41.91
40.52
40.07
50.97
53. 62
55.87
55. 23
42. 63
52.29
65.59
38.57
42.98
42.09
40.73
51.55
54. 69
58.02
55.71
43. 59
52.62
68.79
38.19
43.26
42.87
40.44
51.31
' 53. 00
56.87
' 54. 72
' 44. 27
' 51.83
r
66. 24
38. 58
44. 37
44.41
41.11
r
363
1
29
268
60
5,291
WAGES
Average weekly earnings (U. S. Department of
Labor) : t
All manufacturing industries
dollars..
Durable-goods industries
do
Ordnance and accessories
do
Lumber and wood products (except furniture)
dollars..
Sawmills and planing mills
do
Furniture and
fixtures
do
Stone, clay, and glass products
do
Glass and glass products
do
Primary metal industries
do
Blast furnaces, steel works, and rolling
mills
dollars.
Primary smelting and refining of nonferrous
metals
dollarsFabricated metal prod, (except ordnance, machinery, transportation equipment) dollars .
Heating apparatus (except electrical) and
plumbers' supplies
dollars.
Machinery (except electrical)
do
Electrical machinery
do
Transportation equipment
do
Automobiles
do
Aircraft and parts
do
Ship and boat building and repairs.__do
Railroad equipment
do_._
Instruments and related products
do...
Miscellaneous mfg. industries
do...
Nondurable-goods industries
Food and kindred products
Meat products
Dairy products
Canning and preserving
Bakery products
Beverages
Tobacco manufactures
Textile-mill products
Broad-woven fabric mills
Knitting mills
'Revised.
» Preliminary.
51.63
do.__
51.84
51.35
53. 25
do...
53. 84
53. 62
60.19
do...
61.52
59. 59
53. 39
do
53.37
54.34
39.41
do___
42.45
42.61
50.24
do.._.
50.74
49.82
64.33
do
62.34
60.90
37.07
37.50
do
35.69
45. 49
45.93
do
44.89
45.81
46.13
. . do .
44.79
42.48
41.65
do.
40.88
fRevised series. See note marked " t " on p. S-ll.
RQ CO
61.09
r
'
'
'
'
'
r
'
'
r
r
55.72
58. 84
59. 76
87
53
69
17
08
45
52. 79
'53.31
'51.05
r
54. 75
r
55. 96
60. 62
61.33
62.31
55.26
58.03
59. 71
» 54. 45
*> 56. 85
* 59. 06
54.08
54.84
'51.66
' 55.19
56.16
r
58. 58
* 52.03
r
r
r
'
r
r
'
'
r
r
'
r
52. 59
53. 50
' 57. 60
' 55. 28
r
44. 68
r
52. 79
' 64. 52
' 38. 36
45. 86
45.82
' 42.18
"» 58." 43~
56.13
59.24
58. 39
" 5O.~26
* 54. 89
59.87
r
r
r
58. 25
52. 51
53. 88
56. 32
54. 94
45.88
52.41
64.44
37. 86
47.16
47.60
43.64
» 56.73
» 59.17
v 56. 95
v 62.99
*> 55. 22
v 50. 58
v 51. 78
v 53. 57
P 38.14
v 47.28
SURVEY OF CURRENT BUSINESS
S-14
Unless otherwise stated, statistics through
1948 and descriptive notes are shown in the
1949 Statistical Supplement to the Survey
1943
November
January 1950
1949
December
January
February
March
April
May
June
July
August
September
October
EMPLOYMENT AND POPULATION—Continued
WAGES—Continued
Average weekly earningst— Continued
All manufacturing industries—Continued
Nondurable-goods industries—Continued
Apparel and other finished textile products
dollars. _
Men's and boys' suits and coats
do
Men's and boys' furnishings and work
clothing
dollars..
Women's outerwear
do
Paper and allied products
do
Pulp, paper, and paperboard mills....do
Printing, publishing, and allied industries
dollars. _
Newspapers
do
Commercial printing
do
Chemicals and allied products
do
Industrial organic chemicals
do
Drugs and medicines
do
Paints, pigments, and
fillers
do
Products of petroleum and coal
do
Petroleum refining
do
Rubber products
do
Tires and inner tubes
do
Leather and leather products,__do
Footwear (except rubber)
do
Nonmanufacturing industries:
Mining:
Metal
do
Anthracite
do
Bituminous coal
do
Crude-petroleum and natural-gas production:
Petroleum and natural-gas production
dollars. .
Nonmetalic mining and quarrying
do
Contract construction
do
Nonbuilding construction
do
Building construction
do
Transportation and public utilities:
Local railways and bus lines
_do
Telephone
.
.do
Telegraph
do
Gas and electric utilities.
.do
Trade:
Wholesale trade
do
Retail trade:
General-merchandise stores
do
Food and liquor
__do
Automotive and accessories dealers...do
Finance:
Banks and trust companies...
do
Service:
Hotels, year-round..
_..do
Laundries
_
do
Cleaning and dyeing plants
do
Average hourly earnings (U. S. Department of
Labor) :f
All manufacturing industries
dollars-Durable-goods industries^_.
do
Ordnance and accessories
do
Lumber and wood products (except furniture)
dollars..
Sawmills and planing mills
do
Furniture and
fixtures
do
Stone, clay, and glass products
do
Glass and glass products
do
Primary metal industries
do
Blast furnaces, steel works, and rolling mills
dollars- _
Primary smelting and refining of nonferrous
metals
dollars. _
Fabricated metal prod, (except ordnance, machinery, transportation equipment) .dollars. _
Heating apparatus (except electrical) and
plumbers' supplies-..
dollars-.
Machinery (except electrical)
do
Electrical machinery
do
Transportation equipment
do
Automobiles
do
Aircraft and parts
do
Ship and boat building and repairs.__do
Railroad equipment
do
Instruments and related products
do
Miscellaneous mfg. industries.__
.do
Nondurable-goods industries
Food and kindred products
Meat products
Dairy products
Canning and preserving
Bakery products
Beverages
Tobacco manufactures.__
Textile-mill products
Broad-woven fabric mills
Knitting mills
'Revised.
v Preliminary.
r
43.24
48.03
42.95
48.01
43.10
48.07
43.87
49.42
43.41
50.13
39.53
46. 30
39.94
46.00
40.11
43.86
41.03
44.93
33.02
52.98
57.27
61.94
32.50
52.52
56.66
60.79
32.05
53.81
55.54
59.91
32.89
53.84
54.84
58.72
33.82
51.68
54.45
58.17
32.49
45.42
53. 48
57.35
33.36
45.61
53.73
57.58
32.76
46.33
54.54
57.05
33.03
48.51
55. 57
59.65
r
68.36
76.76
67.37
57.92
59.93
56.24
59. 32
72.60
75.92
58.20
62.66
40.88
37.87
69.30
79.39
68.58
58. 35
60.05
56.36
59.14
71.59
75.02
57.67
61.20
42.41
40.22
67.59
74.83
67.77
57.70
59.36
56. 45
58.45
73. 29
77.02
56. 89
60.72
42.30
40.63
68.32
75. 65
67.91
57.81
60. 37
56. 52
58.97
70.82
73.89
56. 55
60.99
42.83
41.07
69.56
76.72
69.26
57.51
59.69
56.37
58.81
70.92
74.00
55. 43
61.50
42. 56
40.96
69.39
78.43
68.42
57. 45
59.17
55. 78
59.92
71.26
73. 95
55. 50
60.92
40.74
38.68
70.40
80.02
69.51
58.20
60.09
56. 68
59. 22
72.12
75.21
57.08
63.20
40.05
37.37
70.47
78.73
70.80
59.08
60.56
56.28
59.90
71.84
74.73
58.29
64.09
41.46
39.24
70.45
78.02
70.05
59.44
61.50
56. 40
59.31
73.59
76.60
58.37
64.45
41.74
r
70. 69
77. 80
69. 66
' 58. 77
r
60. 68
r
56.32
59.51
' 72. 38
r
75. 10
r 57. 72
•• 62. 32
r 42. 00
' 40. 04
r
r
r
r
r
64.02
60.89
72.73
65.36
63.27
76.28
64. 75
67. 39
76.32
64.74
47.97
73. 56
66.16
46.15
70. 54
64.71
56.82
72. 33
63.72
63. 63
72.98
60.53
45.28
59.90
58.75
66.08
47.94
r
58.18
r 42. 80
49. 51
r
r
58. 92
59 90
* 52. 77
59.78
75.04
63.39
68.82
57. 05
68.28
65. 31
69. 39
69.52
56.79
71.65
69.64
72. 33
73. 32
54.91
70. 14
67.54
70.88
70.37
54. 36
69.96
68.06
70.53
69. 54
54.40
69.22
67.25
69.83
70.30
56.38
69.86
68.47
70.33
71.78
58.17
71.70
71.42
71.81
70.59
57. 82
71.41
71.34
71.44
72.54
56.77
71.55
72.20
71.28
•• 70. 74
57. 86
r
72.13
' 72. 56
' 71.95
' 72. 40
r
56. 90
' 70. 73
r
70. 82
r
70. 69
74.06
57.64
71.99
72.57
71.76
63.25
51.42
61.41
62.38
63.85
49.85
61.17
62.41
63.82
49.84
61.58
63.08
64.18
50.84
61.94
62.60
64.18
50.82
62.31
62. 54
64.64
50.58
63.37
62.82
64.48
51.84
63. 69
63.40
66. 01
51.46
62.96
63.64
65. 21
51.90
63. 97
64.02
r 64. 64
' 51. 57
63.64
63.92
r
64.56
53.33
62.97
65.72
' 41. 95
44. 96
r
32. 80
50. 40
' 56. 26
' 60.32
r
r
r
' 44. 02
48.00
34.33
49.70
58.31
62.19
33. 93
52.98
57. 77
'61.20
r
r
72.14
80.14
70. 21
r
59. 66
' 62. 37
' 57. 00
r
60. 88
r
74. 43
r
77. 07
r
60. 97
70. 03
' 41. 99
r
39. 71
42. 86
46.27
r
71.08
80.07
69.30
r
59. 55
62.08
57.19
61.15
r
74. 09
76.13
59.53
64.83
r
41. 57
38.54
64. 46
52. 57
62 83
' 64. 79
r
56.48
56. 87
57.24
56.82
56.88
57.12
57.83
57.49
58.18
r 57. 10
r
57.39
58.26
32.86
47.84
57.22
34. 46
48.48
57.07
34. 42
49.07
57. 25
34.01
49. 12
57.15
33. 68
48.87
58. 18
34. 26
49.08
59. 50
34. 85
48.99
60.00
35. 62
50.26
59.70
35. 86
51.13
59.83
35. 75
r
51. 00
r
59. 55
r
35.32
r 50. 57
r
59. 69
34. 66
50. 38
59.39
43. 49
44. 05
43.10
43. 80
r
r
32. 65
34.73
40.77
43. 55
42.04
43.96
43. 10
32.35
34.74
39.76
32. 35
34. 99
40. 62
32. 41
35. 49
40. 37
32. 47
34. 90
39. 32
32. 53
35. 07
39. 93
32. 35
35. 24
42. 15
32. 99
36.04
43.17
32. 85
35.32
42.17
32.90
35. 03
40.43
' 32. 93
r 34. 27
<• 38. 63
32. 71
' 34. 73
41.56
1.397
1.463
1.420
1.400
1. 466
1.416
1.405
1. 467
1. 420
1.401
1.466
1.434
1.400
1.464
1.462
1.401
1.467
1.475
1.401
1.467
1.472
1.405
1.475
1.479
1.408
1.477
1.480
r 1. 399
' 1. 473
* 1. 472
1.407
•• 1. 482
1.483
1. 275
1.281
1.229
1.359
1.441
1.590
1.247
1.256
1.232
1. 359
1.447
1.591
1.224
1.240
1.227
1.359
1.458
]. 593
1.216
1.240
1. 231
1. 362
1.467
1. 587
1.246
1. 265
1. 234
1.358
1. 457
1.582
1.272
1.288
1. 230
1.358
1. 450
1. 584
1.288
1.308
1. 236
1. 361
.453
.581
1.300
1.316
1.240
1.360
1.439
1. 591
1.288
1.304
1. 240
1.368
1.457
1.589
r
1. 299
r 1.312
r 1. 230
1.368
1. 438
1.654
1.655
1.656
1.645
1.643
1.642
.634
1.650
1.645
1.499
1.490
1.500
1.452
1.452
.453
1.464
1.466
.472
. 523
.443
.650
.695
. 555
.617
.617
.388
.252
1. 467
1.529
1.440
1.658
1.699
1. 554
1.636
1.608
1.393
1.262
1. 455
.530
.447
.661
.704
.607
.613
.600
.394
.250
1.324
1.289
1. 383
1.206
1.113
1.239
1.558
1.015
1.184
1.179
1.125
.332
.296
. 388
.219
.098
.247
.611
.021
:. 182
181
1.114
r
1.484
1. 452
1.453
1. 452
1.454
1.484
1.520
1.437
1. 648
1.681
1.571
1.617
1.625
1.376
1.252
1.482
1.528
1.438
1.651
1.683
1. 565
1.624
1.660
1.381
1.263
1.469
1. 524
1. 436
1.660
1.702
1.560
1.623
1. 630
1.384
1.263
.477
.524
. 440
.653
.694
.566
.610
.610
.389
.262
1. 478
1.525
1. 445
1.637
1.670
1. 558
1.619
1. 623
1. 390
1.248
1.475
1.523
1.444
1.643
1.678
1.548
1.636
1.617
1.387
1.255
.323
.285
.352
.213
.149
.218
1.527
.987
1.194
1.186
1.132
1.323
1.291
1.371
1.211
1.153
1.216
1.538
1.003
1.188
1.176
1.134
1.321
1.289
1.378
1.213
1.180
1.216
1.523
1.013
1.182
1.167
1.136
do
1.317
1.319 1.327
do
1. 274
1. 285
1. 292
do
1.403
1.395 1.
._._do
1.189
1.194 1.213
do
1.107
1.163 1.158
d o . — 1.199
1.211 1.218
do
1.528
1.513 1.515
.do
.978
.979 .986
do-~_ 1.197
1.196 1.197
do
1.193
1.192 1.188
...do.—
1.145
1.141 1.145
fRevised series. See note marked "f" on p. S-ll.
r
r
r
r
r
1. 581
' 1. 482
1.468
r 1.459
»• 1. 531
r
1. 451
1.660
r1.703
r
1 . 544
1.610
1.616
' 1. 391
' 1.247
1.319
1.271
1.387
r
1.216
'1.085
r
1.249
r
1. 600
.997
1.180
1.181
r
1.111
r
1.496
r
1. 474
r 1.478
1. 538
1.447
1.674
1.716
1.556
1.618
1.623
1.398
1. 256
1.328
1.283
1. 388
1.245
1.117
1.257
1.593
.986
1.188
1.190
1.116
1.392
1. 458
1. 489
1. 297
1.312
1.233
1. 373
1.440
1. 558
1.646
1.675
1. 631
.323
.294
.380
.205
.167
.226
.544
1.016
1.184
1.171
1.135
1.297
••1.313
••1.239
r 1. 379
•• 1. 461
1.608
r
r
r
1. 460
1.479
1.535
1. 436
1.656
1.689
1.572
1.627
1.620
r
1.407
r
1. 261
r
r
r
r
1.326
1.289
1.377
1.243
1.147
1.263
1.591
.991
1.194
1.202
1.119
November
SURVEY OF CURRENT BUSINESS
January 1950
Unless otherwise stated, statistics through
1948 and descriptive notes are shown in the
1949 Statistical Supplement to the Survey
1948
November
S-15
1919
December
January
February
March
April
May
June
July
August
September
October
November
EMPLOYMENT AND POPULATION—Continued
WAGES—Continued
Average hourly earnings, etc.f—Continued
All manufacturing industries—Continued
Nondurable-goods industries— C ontinued
Apparel and other finished textile products
dollars. .
Men's and boys' suits and coats
do
Men's and boys' furnishings and work
clothing
__dollars._
Women's outerwear
do
Paper and allied products
_
_do_ __
Pulp, paper, and paperboard mills do
Printing, publishing, and allied industries
dollars. _
Newspapers.
_
_do
Commercial printing
do
Chemicals and allied products._ _. do
Industrial organic chemicals
do
Drugs and medicines
do .
Paints, pigments, and
fillers
do
Products of petroleum and coal.. __ do . . .
Petroleum refining
do
Rubber products
do
Tires and inner tubes
do
Leather and leather products . _
. d o __
Footwear (except rubber)
do
Nonmanufacturing industries:
Mining:
Metal
do
Anthracite do
Bituminous coal
_.
__do
Crude-petroleum and natural-gas production:
Petroleum and natural-gas production
dollars. _
Nonmetallic mining and quarrying
do
Contract construction
do
Nonbuilding construction. __
do
Building construction
do
Transportation and public utilities:
Local railways and bus lines
do
Telephone
_ __
_
do
Telegraph
do
Gas and electric utilities
do
Trade:
Wholesale trade
_ . . _ do
Retail trade:
General-merchandise stores
. do - Food and liquor
do
Automotive and accessories dealers . . d o
Service:
Hotels, year-round
do
Laundries
__ __
do
Cleaning and dyeing plants
. do . .
Miscellaneous wage data:
Construction wage rates ( E . N . R.):§
C o m m o n labor
__ dol per hr
Skilled labor
do
F a r m wage rates, without board or room (quarterly)*
dol per hr
Railway wages (average, class I)
do
Road-building wages, common labor
do
1.201
1.353
1.203
1.36C
1.221
1.358
1.212
1.354
1.196
1.366
1.149
1.342
1.125
1.345
1.133
1.317
1.159
1.306
1.175
' 1.342
' 1.193
1.352
' 1. 171
1.345
.930
1 505
1. 335
1.411
.934
1 492
1.330
1.404
.937
1 533
1.335
1.403
.924
1 504
1.331
1.398
.929
1 460
1.328
1.395
.923
1 360
1.327
1.392
.924
1 303
1.330
1.401
.915
1 339
1.340
1.410
.915
1.431
1.352
1.427
'".901
' 1 465
1.346
' 1.416
.917
' 1 480
' 1.353
1.420
.918
1.449
1.353
1.423
1.744
2.036
1. G80
1. 389
1.487
1.375
1.426
1.797
1.898
1.504
1.731
1.145
1.104
1.750
2.062
1.685
1. 396
1.490
1.368
1.432
1.772
1.857
1.498
1.719
1.143
1.102
1.751
2.028
1.690
1.404
1.499
1.387
1.429
1.779
1.856
1. 501
1.720
1.137
1.101
1.770
2.039
1.715
1.410
1.513
1.392
1.449
1.775
1.852
1.500
1.723
1.136
1.101
1.802
2.068
1.749
1. 406
1.515
1.385
1.452
1.773
1.850
1.498
1.718
1.135
1.101
1.807
2.086
1.741
1. 415
1.525
1.391
1.458
1.777
1.858
1.504
1.721
1.138
1.102
1.819
2.117
1.751
1. 430
1.533
1.403
1.455
1.772
1.857
1.514
1. 741
1.141
1.099
1.821
2.105
1.770
1.448
1. 545
1.400
1. 454
1.787
1. 873
1.526
1.751
1.136
1.090
1.825
2.103
1.760
1.464
1.565
1.410
1.450
1.808
1.896
1.520
1.761
1.128
1.085
'
'
'
'
'
1.845
2.137
1. 764
1. 441
1. 567
1.411
1. 467
1.811
1. 903
1.513
1.791
' 1.141
' 1.103
••1.851
2.141
1.777
'1.428
1.556
1.412
1. 477
'1.807
1.889
1.511
1.738
'1.142
1.098
1.510
1.823
1.955
1.520
1.861
1.956
1.538
1.872
1.947
1.527
1.838
1.941
1.528
1.846
1.938
1.519
1.857
1.934
1.510
1.866
1.946
1.491
1.935
1.951
1.491
1.888
1.910
' 1.473
' 1.829
'1.897
' 1.488
1.864
' 1. 940
1.476
1. 934
1.981
1.738
1.285
1.840
1.671
1.906
1. 738
1.282
1.862
1.712
1.915
1.784
1.286
1.869
1.710
1.918
1.768
1.285
1.877
1.714
1.930
1.756
1.280
1.875
1.703
1.933
1.762
1.302
1.872
1.709
1.934
1.768
1.313
1.864
1.712
1.930
1.778
1.320
1.856
1.704
1.924
1.800
1.308
1.856
1.712
1.922
' 1. 764
' 1.306
1.862
'1.712
1.932
' 1. 792
••1.311
' 1.877
' 1. 733
' 1. 940
1.802
1.304
1.878
1.736
1. 943
1.387
1.305
1 383
1.496
1.391
1.288
1 387
1.493
1.415
1.298
1.390
1.509
1.423
1.317
1.392
1.512
1.420
1.327
1.394
1.507
1.430
1.324
1 399
1.521
1.436
1.343
1.409
1.535
1.435
1.340
1. 399
1.541
1.446
1.348
1.409
1.550
' 1. 442
' 1.343
1.411
1.544
' 1. 455
' 1.362
1.412
' 1. 565
1.454
1.378
1.415
1.576
1.381
1.387
1.403
1.403
1.401
1.407
1.421
1.416
1.426
' 1. 403
r
1.410
1.428
.918
1.202
1.266
.919
1.206
1.257
.943
1.233
1.261
.937
1.228
1.256
.933
1.231
1.273
.936
1.227
1.302
.960
1.234
1.310
.968
1.244
1.312
.964
1.244
1.312
.961
' 1. 244
1.306
'.965
' 1. 258
' 1.309
.960
1.250
1.294
.732
.833
.977
732
.833
.986
735
.843
.987
.738
.841
.983
.731
.845
.986
732
.843
.994
.738
.850
1.011
.745
.849
.997
.746
.844
.986
r
. 745
'.840
'.978
'.745
'.843
'.992
.742
.843
.980
1.413
2.343
1.413
2.347
1.417
2.353
1.417
2.353
1.424
2.376
1.424
2.378
1.431
2.384
1.441
2.394
1. 465
2.412
1.470
2.434
1.478
2.453
1.478
2.458
1.341
1. 338
.77
1.352
1.00
1.370
1.337
71
1.380
1.06
1.389
1.375
.74
1.392
1.16
1.373
1.565
'.64
1, 562
1.17
204
249
195
219
198
199
194
211
189
230
207
265
215
278
251
277
0)
0)
0)
0))
252
2
2 565
1,786
1,791
951
890
62
281
2 559
0)
0)
0)
0)
306
2 506
90,792
36, 334
54, 458
C1)
0)
0)
0)
313
2 471
1.836
2.114
1. 759
1.451
1. r)48
1.408
1.448
' 1.796
' 1.887
r
1. 507
' 1.731
1.129
1.091
'
'
'
'
'
'
'
'
'
v 1.121
v 1.348
v 1.848
v 1.435
v 1.801
* 1.510
v 1.132
1.478
2.462
FINANCE
BANKING
Acceptances and commercial paper outstanding:
Bankers' acceptances
mil. of dol__
Commercial paper
do
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
Loans to cooperatives
do
Short-term credit
_do
239
287
259
269
314
449
1,677
932
857
75
311
435
0)
0)
262
268
(0
8
0)
299
444
94, 080
38, 429
55, 651
48, 585
22, 914
456
22,109
23, 025
48,585
22, 248
19, 540
477
23, 609
50.2
228
0)
0)
0)
0)
289
466
215
257
1,710
936
866
70
270
504
0)
0)
8
262
2
537
35, 832
53, 374
65
250
2 591
(0
(0
(*)
0)
258
2 600
0)
0)
0)
0)
261
2 590
88, 536
36, 070
52, 466
90, 266
88,353
98, 276
Bank debits, total (141 centers)
do
80,180
98, 335
91, 569 109, 908
37,191
35, 249
36, 467
42, 890
39, 698
36, 974
46,194
31,982
New York City
do
34, 754
53, 075
53,339
55, 386
48,198
58, 637
51, 995
63, 714
56, 815
Outside New York City
do
51,886
Federal Reserve banks, condition, end of month:
44,192
44, 272
44. 323
44, 937
43, 513
45, 502
45, 483
48, 448
48,051
47, 396
50, 043
49, 803
Assets, total
mil. of doL18, 267
18,415
19,239
18, 225
17,860
20, 092
19. 696
22, 855
22, 267
21, 737
23, 881
24, 097
Reserve bank credit outstanding, totaL.-do
322
109
531
283
317
103
251
246
303
247
337
223
Discounts and advances
do
17,682
17, 524
18, 010
18,529
17, 316
19, 343
22, 342
21,688
21, 094
19, 704
23, 209
23, 333
United States Government securities. __do
23, 232
23,362
23, 350
23, 285
23, 320
23, 245
23,045
23, 099
23,116
22,889
23. 077
22, 966
Gold certificate reserves
do
44, 272
44,192
44, 323
44, 937
43, 513
45, 502
48, 448
47, 396
45, 483
49, 803
48, 051
50. 043
Liabilities, total
do
17, 793
18,173
18,968
17, 632
19, 246
18, 036
21,304
19, 582
22, 427
21,754
22, 791
22, 235
Deposits, total
do
16, 038
15, 947
17, 437
15, 850
17, 867
16,512
19,076
18. 024
19, 894
19.118
20, 479
19, 617
Member-bank reserve balances
do
p 697
589
752
771
1,175
1,202
808
686
638
794
948
809
E xcess reserves (estimated)
do
23,373
23,278
23, 247
23, 305
23, 273
24,161
23, 528
23, 383
23, 346
23, 373
23, 327
Federal Reserve notes in circulation
do
24,172
56.4
56.3
57.0
55.1
56.6
48.9
50.4
51.1
53.8
54.5
51.8
49.1
Reserve ratio
percent-.
' Revised.
v Preliminary.
1
Beginning July 1, 1948, farm mortgage loan data are reported quarterly.
2
In accordance with Public Law 38,81st Congress, the Regional Agricultural Credit Corporation of Washington, D. C , was dissolved and as of April 16,1949, its assets were transferred to the
Farmers Home Administration.
fRevised series. See note marked " | " o n P- S-ll.
§Rate as of January 1, 1950: Common labor, $1,485; skilled labor, $2,462.
•New series. Comparable data prior to January 1948 are not available.
SURVEY OF CURRENT BUSINESS
S-16
Unless otherwise stated, statistics through
1948 and descriptive notes are shown in the
1949 Statistical Supplement to the Survey
1948
November
January 1950
1949
December
January
February
March
April
May
June
July
August
September
October
November
FINANCE—Continued
BANKING—Continued
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
mil. of dol_.
States and political subdivisions
do
United States Government
do
Time, except interbank, total
do
Individuals, partnerships, and corporations
mil. of dol__
States and political subdivisions
do
Interbank (demand and time)
do
Investments, total
-do
U. S. Government obligations, direct and
guaranteed, total
_.mil. of dol
Bills
do
Certificates
do
Bonds and 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 of banks
do
Other loans
do
Money and interest ratesrcT
Bank rates to customers:!
In New York City
percent..
In 7 other northern and eastern cities
do
In 11 southern and western cities
do
Discount rate (N. Y. F. R. Bank)
do
Federal land bank loans
do
Federal intermediate credit bank loans
do
Open market rates, New York City:
Acceptances, prime, bankers', 90 days
do
Commercial paper, prime, 4-6 months
do
Time loans, 90 days (N. Y. S. E.)
do
Callloans. renewal (N. Y. S. E)
do
Yield on U. S. Govt. securities:
3-month bills
do
3-5 year taxable issues
do
Savings deposits, balance to credit of depositors:
New York State savings banks
mil. of dol._
U. S. postal savings
do
47,341
47,794
46,945
46,112
44, 909
46,175
46,364
46,093
46,282
46,737
46, 457
' 46, 848
47, 804
3, 292
1,264
14, 796
48,214
3,282
1,274
15,028
46, 576
3,408
1,476
15,087
46,014
3.418
1,706
15,132
44,341
3, 588
2,095
15,151
45,737
3, 548
1.188
15, 226
46,128
3, 683
790
15, 283
45,805
3,361
1, 356
15, 375
45, 685
3, 432
1,591
15, 282
46, 416
3,367
2,196
15, 270
46, 465
3,165
2,636
15, 255
46, 867
3,299
2, 335
15, 228
14, 238
505
10, 472
37,238
14,403
540
10,602
37,192
14.419
582
10.174
37,452
14. 452
593
10,163
37, 359
14, 458
602
9,364
36,137
14, 485
648
9,203
36,945
14, 513
667
9, 703
38, 525
14, 596
664
9,526
38,699
14, 520
641
10, 032
40, 637
14, 502
647
10, 095
42,288
14,501
632
10,065
42,064
14, 500
605
10,687
' 42, 341
33.075
2, 106
4.458
24, 823
1.688
4,163
25, 092
15, 542
974
32. 987
1,807
4.742
24,594
1.844
4,205
15,577
1,331
33,268
1.987
5. 364
24,890
1,027
4,184
25, 244
15.318
1.297
33,069
2,000
5,048
24,992
1.029
4,290
24,617
15,147
917
31, 750
1,063
4,624
25,136
927
4,387
25,034
14,904
1,548
32,951
1,827
4,712
25, 458
954
4,354
24, 010
14,162
1,328
34,035
2,105
5,225
25, 734
971
4,490
23,811
13,476
1,678
34,149
1,793
5,274
26,132
950
4. 550
23, 883
13,181
1, 955
35, 773
2, 603
5, 716
26, 394
1,060
4,864
23,159
12, 826
1. 520
37, 307
3,260
6,392
26, 536
1,119
4,981
23, 491
12,965
1,609
37,004
2,608
7,181
26, 091
1,124
5,060
23, 998
13, 384
1,668
' 37, 388
' 2, 618
' 7, 273
»• 26, 347
1,150
' 4, 953
r 24, 325
' 13, 694
1,618
673
4,044
218
3,893
679
4,062
241
3,930
663
4,079
258
3,918
630
4,082
266
3,837
638
4,083
308
3,851
617
4,078
263
3,863
628
4,092
333
3,904
657
4,118
292
3,981
663
4,143
264
4,049
665
4,185
273
4,102
638
4,207
233
4,178
597
4,246
207
4,266
1.50
4.04
2.00
2.34
2.68
3.02
1.50
4.04
2.00
1.50
4.08
2.02
1.50
4.08
2.02
2.42
2.68
3.12
1.50
4.08
2.02
1.50
4.08
2.04
1.50
4.08
2.04
2.35
2.86
3.17
1.50
4.08
2.04
1.50
4.08
2.04
1.50
4.08
2.04
2.32
2.64
3.07
1.50
4.08
2.04
1.50
4.08
2.04
1.19
1.56
1.63
1.63
1.19
1.56
1.63
1.63
1.19
1.56
1.63
1.63
1.19
1.56
1.63
1.63
1.19
1.56
1.63
1.63
1.19
1.56
1.63
1.63
1.19
1.56
1.63
1.63
1.19
1.56
1.63
1.63
1.06
1.56
1.63
1.63
1.06
1.44
1.63
1.63
1.06
1.38
1.63
1.63
1.06
1.38
1.63
1.63
1.144
1.69
1.154
1.64
1.160
1.59
1.163
1.57
1.162
1.54
1.155
1.53
1.156
1.49
1.158
1.42
.990
1.26
1.027
1.26
10,194
3,336
10,326
3,330
10,402
3,334
10,446
3,333
10, 518
3,327
10, 550
3,314
10, 600
3,294
10,718
3,277
10, 753
3, 266
10, 786
3,248
I. 062
I1. 37
10, 830
3,228
Total consumer credit, end of month___mil. of dol_.
Instalment credit, total
do
Sale credit, total
do
Automobile dealers
do
Department stores and mail-order houses
mil. of doL.
Furniture stores
do
Household-appliance stores
do
Jewelry stores
do
All other retail stores—
do
15, 739
8,322
4,310
1,922
16,319
8,600
4, 528
1,961
15, 748
8,424
4, 370
1,965
15, 325
8, 339
4,306
1,996
15, 335
8,429
4,364
2,105
15, 595
8,630
4,917
2,241
15,843
8,888
4,718
2,386
16,124
9,123
4,870
2,499
16,198
9,335
5,010
2,610
16, 453
9,622
5,223
2,761
812
696
377
127
376
874
750
387
152
404
815
704
366
141
379
685
353
130
364
756
675
348
124
356
760
683
351
123
359
704
367
123
367
774
718
382
124
373
766
730
405
121
378
781
755
417
121
388
Cash loans, total
do—
Commercial banks
do...
Credit unions.
do
Industrial banks
do. _ _
Industrial-loan companies
do. - _
Insured repair and modernization loans
mil. of doL
Small-loan companies...
do...
Miscellaneous lenders
do.-.
4,012
1,701
304
204
156
4,054
1. 705
309
202
159
4,033
1,695
308
201
159
4.065
1,720
315
203
161
4,113
4,170
1,709
312
204
160
1,749
323
207
163
1,788
333
213
165
4, 253
1, 836
346
219
167
4,325
1, 866
357
225
169
4,399
1,897
369
230
171
740
780
127
739
817
131
737
812
130
734
806
130
729
807
130
727
815
131
722
818
131
726
827
132
732
843
133
747
851
134
do_-_
do...
do.--
3, 557
2,892
968
3, 854
2, 902
3, 457
2,904
3.169
2. 865
963
963
952
3,121
2, 816
969
3, 232
2,764
969
3, 235
2,739
981
3,274
2,752
975
3,123
2,768
972
Consumer instalment loans made during the month,
by principal lending institutions:
Commercial banks
mil. of doL
Credit unions
do
Industrial banks
do—
Industrial-loan companies
do
Small-loan companies
do
237
46
31
26
134
251
57
37
31
180
236
42
31
215
44
28
25
109
287
58
36
30
142
278
58
33
29
146
288
60
35
28
135
303
68
38
28
140
282
59
35
28
155
25, 559
1.044
i 1.38
10, 860
3,211
CONSUMER CREDIT
Charge accounts
Single-payment loans
Service credit
• 16, 801 v 17, 220
r 9,897 v 10.162
p 5, 661
5, 438
v 2, 986
2,876
818
784
435
> 121
404
r
4, 459
1,922
379
235
172
T
P 454
v 123
v 421
v 4, 501
v 1, 937
P385
p 239
v 172
761
855
135
p 775
*>858
v 135
3,064
2,799
r 3,123
2,808
••973
p 3, 197
v 2, 864
997
294
66
37
29
143
278
65
34
27
128
272
v 59
FEDERAL GOVERNMENT FINANCE
Budget receipts and expenditures:
Receipts, total
mil. of dol..
2,751
4,928
4,885 !
2,061
2,917
1,945
4,767
4,832 "
1.946
2,479
28
28
33
25
32
1,544
3,819
3,893
1,209
1,568
410
137
144
65
404
656
704
714
653
749
114
240
101
110
165
4,579
2,822
3, 995
3,434
3,585
1,570
125
544
322
125
525
614
859
494
522
1,159
950
985
987
1,134
1,325
2,208
1,631
1,804
1,607
r
v
Revised.
Preliminary.
* Beginning
^.uuuif,
September
^ ^ ^ m u , , iz,
12, series
series changed
uiang
from one to two bond issues (2 percent December 1952-54 and 2H percent March 1956-58).
2
2 Beginning
Beginning N
November
1949, data
data rrepresent interest due and payable; previously, interest paid.
cfFor bond yields see p. S-19.
series for September is 1.25 percent.
o v e m b e r 1949,
,.__,,ihave 1been revised
,.-^^ +.—n~~+
fRevised series. Bank rates to customers
to reflect ~a cchange in the reporting form; for the series shown here no revisions were made prior to June 1948.
Receipts, n e t
Customs
Income and profits taxes
E m p l o y m e n t taxes
Miscellaneous internal revenue
All other receipts
Expenditures, total
Interest on public d e b t
Veterans Administration
N a t i o n a l defense a n d related activities
All other expenditures
do
_do
do
_do
do
do
.do
do
.do
do
_do
2,941
2,540
33
1,583
384
768
173
2,815
122
618
957
1,118
4,062
4,014
38
3,042
134
702
146
3,603
1,112
555
1,017
920
3,935
3.381
29
2,690
438
654
130
2,646
141
547
930
1,027
6,133
5, 435
34
5,100
168
720
111
3,621
589
640
1,109
1,283
2,306
1,340
29
1, 308
81
644
244
2,748
178
548
1,043
979
1,993
1,881
35
1,060
65
753
79
3,111
255
502
959
1,395
Average for old
SUEVEY OF CUKEENT BUSINESS
January 1950
Unless otherwise stated, statistics t h r o u g h
1948 a n d descriptive notes are shown in t h e
1949 Statistical S u p p l e m e n t t o the Survey
1948
November
S-17
1949
December
January
February
March
April
May
June
July
251,889
249,890
217, 975
31,914
2,000
252, 770
250,762
217, 986
32, 776
2,009
253, 877
251, 880
218,831
33, 049
1,996
August
September
October
256, 680
254, 756
220,842
33, 914
1,923
256, 778
254, 876
221, 066
33 810
1,901
November
FINANCE—Continued
FEDERAL GOVERNMENT FINANCE—Con.
Debt, gross:
Public debt (direct), end of month, total
mil. of dol. _ 252, 506
250, 391
Interest-bearing, total
do . .
Public issues.
do. . . 218, 992
31, 400
Special issues
do
2,115
Noninterest bearing
. _ . _ ._ __ do_
Obligations guaranteed by U. S. Government,
57
end ofmonth__ __
_
_ mil. ofdol
U. S. savings bonds:
Amount outstanding, end of month _ do _ _ 54, 989
419
Sales series E, F, and G
do
406
Redemptions-_
do
Government corporations and credit agencies:
Assets except interagency total
mil of dol
Loans receivable total (less reserves)
do
To aid agriculture
do
To aid home owners
do
To aid railroads
do
To aid other industries
do
To aid banks
do
To aid other financial institutions
do
Foreign loans
do
All other
do
Commodities, supplies and materials
do
U S Government securities
do
Other securities
do
Land structures and eouipment
do
All other assets
do
252, 800
250, 579
218, 865
31, 714
2,220
252, 721
250, 603
218,799
31, 804
2,118
251, 530
249, 509
217, 676
31, 833
2,021
255, 852
253, 921
220, 563
33,358
1,931
36
26
24
23
23
27
26
27
29
28
29
55, 467
647
55, 763
599
56,103
454
56,195
433
369
415
56, 602
449
398
56, 333
485
451
56,522
511
476
55, 982
590
440
56, 663
398
411
56, 729
388
56, 774
383
396
415
i 1,825
768
140
141
627
674
2,077
3,515
3,048
do
2,666
do
do
do
38
964
1,663
Privately owned interest
U S Government interest
do
do
22 594
11 720
3,617
1 123
120
364
4
368
6,108
488
1,140
2,004
3,508
2,946
865
782
2,834
23
1,927
884
170
19, 320
166
18, 886
439
120
337
5
367
6,098
589
1,854
3,518
3,060
967
425
22,232
11, 770
3,847
980
22, 324
12, 228
4,209
851
310
5
520
6,102
584
2,377
407
4
347
6,090
494
1,596
2,069
3,501
2,933
775
1,957
26
865
1,487
28
856
1,074
172
19, 682
177
20,460
1,249
1,282
1,323
1,362
1,411
1,465
1,419
11,458
11,522
11,603
11,670
11, 737
310
132
321
129
330
127
340
126
349
125
362
124
380
123
384
123
399
122
416
123
434
122
443
121
141
134
256, 982
255,124
221, 295
33 829
1,858
55
21, 718
11, 692
3, 632
T
251, 642
249, 573
217, 647
31, 926
2,068
55,197
540
432
Liabilities exceDt interasrencv total
Bonds, notes, and debentures:
Guaranteed by the United States
Other
Other liabilities
Reconstruction Finance Corporation, loans and
securities (at cost) outstanding, end of month,
total
__ _ _.
mil. of dol
Industrial and commercial enterprises, including
national defense
_.
mil. of dol _
Financial institutions
do
Railroads, including securities from PWA_.do
States, territories, and political subdivisions.do
United Kingdom and Republic of the Philippines
mil. of dol_.
Mortgages purchased
do
Other loans
do
252, 620
250, 435
218,675
31, 760
2,186
138
134
138
137
138
135
472
118
139
138
138
138
138
30
U17
30
1117
30
1117
30
U17
30
1117
30
1117
29
204
292
36
194
331
37
192
363
37
191
395
37
185
438
37
182
483
37
179
531
37
174
592
37
173
643
37
176
703
38
167
762
37
165
824
37
161
891
37
54,892
49,778
55,383
50,265
55, 746
50,465
55, 984
50, 735
56,309
50,995
56,589
51,323
56, 872
51, 498
57, 233
51, 921
57, 503
52,251
57,768
52,390
58,082
52,640
58, 407
52, 903
58,699
53,130
' 49,031
35,899
r 17, 450
' r15,440
8,073
2,835
7,541
718
r
8, 703
829
' 7, 874
1,779
49,483
36,125
17, 235
15, 204
8,289
2,863
7,737
731
8,893
837
8,057
1,788
49, 778
36,191
17,189
15,151
8,322
2,861
7,818
802
9,009
842
8,167
1,800
49,999
36,319
17,134
15,097
8,388
2,856
7,942
711
9,128
855
8,273
1,809
50, 278
36, 404
17,005
14,957
8,467
2,857
8,076
727
9,275
867
8,409
1,822
50, 519
36, 537
16, 792
14, 748
8,585
2,855
8,304
694
9,404
882
8,522
1,833
51,073
36, 779
16,361
14,324
8.968
2,865
8,585
675
9,687
912
8,775
1,859
1,028
1,044
51, 292
36, 921
16,133
14,093
9,082
2,861
8,846
648
9,804
925
8,879
1,870
1,042
1,008
51,520
36,883
16,001
13,962
9,127
2,855
8,900
702
9,946
935
9.011
1,884
1,045
1,060
51, 789
36, 957
15, 972
13, 871
9,145
2,856
8,983
690
10,092
944
9,147
1,896
1,059
1,095
52, 065
37, 038
15, 891
13, 770
9,189
2,857
9,101
721
10, 209
955
9,254
1,907
1.077
1,114
52,321
37,136
15, 783
13,672
9,254
2,859
9,240
694
10,363
963
9,400
1,917
1,090
1,121
1,657
179
356
1,122
73
263
1,778
250
381
1,147
69
249
1,718
249
384
1,085
67
234
1,861
267
416
1,178
77
277
1,901
308
395
1,198
83
278
251
111
137
53
99
40
134
256
113
140
52
102
41
133
276, 422
121,365
38, 565
8,136
20,078
39, 729
48, 549
276,654
120,828
38, 559
7,867
19,689
38,638
51,073
LIFE INSURANCE
Assets, admitted:
All companies (Institute of Life Insurance), estimated total. _.
.
.mil. ofdol
Securities and mortgages
_do ___
49 companies (Life Insurance Association of
America), total
mil. ofdol
Bonds and stocks, book value, total ._ __do__ _
Govt. (domestic and foreign) total
do
U. S. Government.. ._
do.. _
Public utility .
_
do
Railroad
do
Other
_
_ . . .
do
Cash
do
Mortgage loans, total.
do
Farm
do
Other
_
do
Policy loans and premium notes
do _
Real-estate holdings
do
Other admitted assets
do
Life Insurance Agency Management Association:
Insurance written (new paid-for-insurance):
Value, estimated total
.mil. ofdol
Group
do
Industrial
do
Ordinary, total
do
New England
_
do
Middle Atlantic
do
East North Central
.-do. _
West North Central.. _
do
South Atlantic
do
East South Central
_-do_
West South Central
do
Mountain
do
Pacific
do
Institute of Life Insurance:
Payments to policyholders and beneficiaries,
estimated total
thous. ofdol
Death claim payments
do
Matured endowments
do
Disability payments
do
Annuity payments
do
Policy dividends
_
do
Surrender values
do
' Revised.
i Excludes securities from PWA.
910
932
947
980
995
1,021
1,013
1,029
1,061
1,070
1,057
50, 763
36, 548
16, 575
14, 529
8,678
2,853
8,442
730
9,532
899
8,633
1,845
1,007
1,100
1,808
262
370
1,176
78
282
2,303
664
321
1,318
85
298
1,821
335
357
1,129
86
292
1,711
193
375
1,143
78
298
2,224
454
433
1,337
89
335
1,852
182
414
1,256
84
302
1,861
185
431
1,245
83
294
1,890
242
396
1,252
259
109
132
50
93
39
133
289
133
147
54
107
47
158
254
103
118
42
87
33
113
250
99
123
46
97
34
118
290
124
147
55
111
41
145
267
122
141
52
106
41
141
258
118
141
53
108
43
147
263
127
135
52
114
45
145
235
113
124
46
99
40
130
243
116
132
50
108
42
138
231
112
123
49
101
38
128
257,971
118,358
37,644
8,212
18,937
36,687
38,133
333,180
131, 229
42,975
8,812
18,641
80, 727
50,796
296,940
123.024
46,076
8,580
24,207
54,399
40,654
269,380
117,839
38,101
7,825
17,630
46, 239
41.746
326,028
143,484
44,426
8,142
20,500
58,889
50,587
285,303
124,889
37,960
8,013
19,256
46,348
48,837
274,398
119,043
37,318
7,385
19,998
42,061
48,593
304,428
124,888
42,636
8,347
20,868
56,118
51,571
267,451
115,810
34,227
7,475
19,970
42,990
46,979
286,065
130,188
35,505
7,912
18,739
43,828
49,893
276, 238
115, 711
36,027
7,641
19,856
47,329
49,674
971
81
SURVEY OF CURRENT BUSINESS
S-18
1948
Unless otherwise stated, statistics through
1948 and descriptive notes are shown in the Novem- DecemJanuary
1949 Statistical Supplement to the Survey
ber
ber
January 1950
1949
February
March
April
May
June
July
406,923
26,391
47, 377
32,182
58, 935
242,038
437,739
31,655
46,497
34,905
68, 541
256,141
499,843
32,955
63,102
34, 690
75,606
293,490
373, 628
28,171
14, 316
30,362
61,015
239, 764
24,332
24,314
24,271
24,290
- 2 , 690 -22,201 -16, 725 -17, 741
12,019
6,399
4,499
5,108
25,615
52, 333
25, 978
24, 879
60, 755
58,358
62, 227
56,335
37,941
37,456
39,275
35, 529
10,843
11, 994
11, 442
10,766
3,864
5,544
5,674
3,869
24, 342
37, 775
1,612
11,142
63,109
August
September
October
November
FINANCE—Continued
LIFE INSURANCE—Continued
Life Insurance Association of America:
Premium collections, (39 cos.) total.thous. of dol__
Accident and health
do_.
Annuities
do__
Group
do-.
Industrial
do__
Ordinary
do_.
433,212
26,456
58, 814
29,905
68, 239
249,798
622, 752
37, 742
114, 939
44, 759
98,231
327,081
24,166
99,659
21,097
75,321
60,482
37,758
10,897
5,091
24,244
-45,945
24,123
132, 420
60,208
37,682
11,444
4,832
123
4,973
.736
1,419
4,908
.700
581
2,116
.700
261
3,278
.708
214
6,444
.715
4,783
2,825
.715
514
12,190
.715
1,236
3,400
3,414
1,206
3,600
2,281
976
4,400
2,761
4,100
2,821
1,298
4,800
2,743
1,246
4,000
3,341
1,499
4,400
3,614
2,198
4,300
' 2, 676
1,735
3,500
2,349
1,196
' 4,600
2,909
1,144
4,700
2,167
28,331
28,224
27, 580
27, 557
27,439
27, 417
27, 507
27,493
27,394
27,393
27, 412
170,300
25,900
170, 570
26,079
170,200
25,200
169,300
25,100
167, 600
25,100
167, 500
24,900
167, 600
25,000
167,930 9 167, 900 P 170,000 9 170, 300 9 171, 500 9171,800
25, 266 9 24,900 9 25,100 9 24, 900 9 24,900 9 25,100
144, 400
85, 200
57,000
145, 491
85, 520
57, 520
145,000
85, 400
57,600
144,200
83, 400
57, 800
142,500
81,100
58,000
142,600
82,400
58,100
142, 600
82,600
58,200
142, 664 9 143,000 9 144,900 9145,400 9 146,600 9 146, 700
81,877 9 83,100 9 83, 400 9 83, 300 9 84,600 v 85, 500
58,483 9 58,400 9 58,400 9 58, 400 9 58, 400 9 58, 000
27.8
20.8
32.1
21.0
29.3
19.3
27.1
18.6
27.2
19.2
27.6
18.6
28.3
18.5
449, 865
27,817
76, 348
39,000
72,171
234, 529
452,169
29,185
54, 430
37,036
67, 507
264,011
527,368
34,267
67,864
40,824
78, 615
305,798
435, 090
32,927
50,965
37, 535
66, 277
247,386
466, 669
29,964
52. 865
30,485
76,015
277,340
414,820
31,116
53, 964
32, 973
63,806
232, 961
435,
31,
51,
31,
61,
258,
499
627
973
606
410
883
MONETARY STATISTICS
Gold and silver:
Gold:
Monetary stock, U. S
mil. of dol
Net release from earmark§
thous. of dol__
Gold exports
do.
Gold imports
do.
Production, reported monthly totalj
do
Africa
do.
Canada
do.
United States*
do.
Silver:
Exports
do.
Imports
do.
Price at New York
dol. per fine oz_.
Production:
Canadac?
thous. of fine oz_.
Mexico
do
United States
do....
Money supply:
Currency in circulation
mil. of dol..
Deposits adjusted, all banks, and currency outside banks, total©..__
mil. of dol..
Currency outside banks
do
Deposits, adjusted, total, including TJ. S. deposits©
mil. of dol..
Demand deposits, adjusted, excl. U. S_.do
Time deposits, incl. postal savings
do
Turn-over of demand deposits, except interbank and
U. S. Government, annual rate:
New York City
ratio of debits to deposits
Other leading cities
do__
11, 635
5,623
24,608
24,466
24, 520
24, 602
24,584
121, 632 -19, 936 -208, 540 -154, 799 - 8 9 , 1 1 7
5,483
6,890
11, 563
15, 857
2,397
12,389
137,986 268, 936 114,002
58, 527
64, 761
39,307
40,380
12,015
12, 569
12, 751
11, 421
5,529
6,505
6,239
7,306
5,728
1,818
2,090
11,910
160
86
6,824
6,056
10,237
7,508
5,628
.715
.719
.715
.732
.733
29.8
18.7
28.7
18.5
25.5
17.1
28.0
18.6
p 24, 479
-63,939
2,998
10, 589
184
6,370
.733
2,884
«" 27, 407
9 27, 543
27.3
18.5
27.2
19.1
823
675
639
405
0
234
36
148
148
91
53
4
379
379
150
0
229
0
109
109
35
52
22
PROFITS AND DIVIDENDS (QUARTERLY)
Manufacturing corporations (Federal Reserve):*
Profits after taxes, total (200 cos.)
mil. of dol..
Durable goods, total (106 cos.)
do
Primary metals and products (39 cos.)..do
Machinery (27 cos.)
do
Automobiles and equipment (15 cos.)_.do
Nondurable goods, total (94 cos.)
do
Food and kindred products (28 cos.)--do
Chemicals and allied products (26 cos.).do
Petroleum refining (14 cos.)
do
Dividends, total (200 cos.)
do
Durable goods (106 cos.)
do
Nondurable goods (94 cos.)
do
Electric utilities, profits after taxes (Fed. Res.)
mil. of dol_.
Railways and telephone cos. (see p. S-23).
958
564
240
105
176
394
71
119
141
499
274
225
823
498
220
72
180
325
52
105
119
343
196
146
'750
491
'161
'70
229
'259
54
'87
92
••354
188
'166
176
206
180
*504
*>130
9 71
*>267
*>295
9 109
*>332
p 184
9 148
SECURITIES ISSUED
Commercial and Financial Chronicle:
Securities issued, by type of security, total (new
capital and refunding)..
mil. of dol__
New capital, total
do_
Domestic, total
do_
Corporate
do.
Federal agencies
do_
Municipal, State, etc
do
Foreign
do
Refunding, total
do
Domestic, total
,
do
Corporate
do
Federal agencies
___do
Municipal, State, e t c . -do
583
433
0
150
10
73
73
16
56
2
831
753
753
627
0
126
0
78
78
3
72
690
633
618
419
7
192
15
57
57
1
55
1
500
436
436
231
14
191
0
64
64
7
53
4
600
584
383
26
174
16
949
904
904
681
33
190
0
45
45
1
44
1
757
681
681
295
51
335
0
76
76
31
1,644
1,550
1,535
1,196
24
315
15
94
94
31
62
1
765
685
441
432
9
0
244
79
78
22
56
0
617
309
291
117
0
174
18
308
204
8
195
1
707
519
510
127
69
314
10
188
188
38
146
4
Securities and Exchange Commission: %
1,992
1,426
1,408
1,280
1,395
1,606
1,489
2,672
2,327
2,079
1,667
1,183
Estimated gross proceeds, total
_do
1,611
By type of security:
1,314
1,910
1,374
1,423
2,541
2,268
1,336
1,266
1,549
1,562
1,347
2,012
1,102
Bonds and notes, total
do
455
273
515
415
308
330
246
1,126
113
345
700
105
143
Corporate
do
65
31
60
133
8
41
74
35
61
68
46
46
44
Common stock
do
21
50
5
40
82
27
45
14
57
14
21
36
Preferred stock
___do
By type of issuer:
345
321
411
475
388
783
507
1,257
173
451
174
Corporate, total
do
223
169
251
129
340
102
231
117
211
47
166
166
36
55
Industrial
do
120
138
198
497
106
183
281
925
99
203
231
99
148
Public utility
do.._.
36
51
49
45
55
88
18
45
20
41
16
75
10
Railroad
___do
20
34
39
9
32
23
59
76
6
42
24
36
11
Real estate and
financial._
do
985
1,415
1,063
958
908
1,209
1,852
918
1,101
1,216
1,907
1,437
959
Noncorporate, total
do
763
792
717
1,099
1,080
870
763
759
1,606
894
707
978
U. S. Government
do
1,608
195
175
316
129
193
190
152
342
245
251
326
238
State and municipal
do
198
0
0
0
16
0
0
0
0
0
Foreign governments
do
0
0
0
100
1
2
0
0
1
4
1
1
Nonprofit
do
1
1
0)
0)
0)
1
' Revised.
9 Preliminary.
Less than $500,000.
§Or increase in earmarked gold (—).
^Revisions for January-May 1948 for United States and total gold production are shown in the August 1949 SURVEY, p. S-18. Revisions for JanuaryJuly 1948 for securities issued (SEC data) are available upon request.
cfRevised data for January-August 1948 are shown in the November 1949 SURVEY, p. S-18.
©U. S. Government deposits at Federal Reserve banks are not included.
*New series on large manufacturing corporations (assets end-of-year 1948, $10,000,000 and over); annual data beginning 1939 and quarterly data beginning 1946 are available upon request.
SURVEY OF CURRENT BUSINESS
January 1950
S-19
1949
Unless otherwise stated, statistics through
1948 and descriptive notes are shown in the
1949 Statistical Supplement to the Survey
March
April
May
June
July
August
September
October
November
FINANCE—Continued
SECURITIES ISSUED—Continued
Securities and Exchange Commission^—Continued
New corporate security issues:
Estimated net proceeds, total
mil. of doL.
Proposed uses of proceeds:
New money, total
do
Plant and equipment
do
Working capital
do
Retirement of debt and stock, total..do
Funded debt
do
Other debt
do
Preferred stock
do
Other purposes
do
Proposed uses by major groups:
Industrial, total
do
New money
do
Retirement of debt and stock
do
Public utility, total
do....
New money
do
Retirement of debt and stock
do
Railroad, total
do
New money
do
Retirement of debt and stock
do
Real estate and financial, total
do__,.
New money
do
Retirement of debt and stock
do
State and municipal issues (Bond Buyer):
Long-term
thous. of doL.
Short-term
do
COMMODITY MARKETS
Volume of trading in grain futures:
Corn
mil. of bu_.
Wheat
do
771
336
318
403
380
1,244
468
168
171
445
219
677
586
91
80
7
70
3
14
312
274
38
220
172
48
32
7
25
0
319
253
66
81
37
44
0
553
402
151
127
1
126
0
7
340
254
85
33
13
15
5
7
1,074
958
116
161
40
116
4
430
393
37
30
18
12
1
140
119
21
24
7
17
0
4
118
87
31
40
19
2
20
12
272
229
43
88
58
1
84
163
134
29
38
18
20
0
18
164
145
16
228
209
18
73
73
0
36
35
0
228
166
50
489
461
27
45
45
0
162
139
128
39
23
104
102
2
54
50
4
32
29
3
114
85
26
179
125
54
87
87
0
23
21
1
336
215
118
276
270
7
17
17
0
58
51
2
100
92
7
192
171
21
49
49
0
39
28
5
207
113
91
916
856
54
45
45
0
76
60
16
249
236
11
136
134
2
51
51
0
33
9
16
46
28
14
97
93
4
20
13
7
35
27
2
97
54
37
16
16
0
23
22
1
163
118
23
199
108
65
41
41
0
41
5
0
53
23
23
144
120
16
10
10
0
11
10
0
213,808
81,747
131, 720
84, 614
199, 063
126,809
203, 674
120,198
171, 704
133,002
198, 762
110, 200
349, 557
61, 224
324,825
120, 040
244,173
67,450
218,662
196, 516
332, 957
105,586
381
348
301
337
250
328
395
445
254
357
209
368
173
380
169
552
199
216
420
153
371
463
314
149
34
0
9
5
2
9
0
7
2
16
9
118
118
0
36
36
0
20
19
0)
0)
29
• 230, 822
r 46, 514
128
244
247,203
119,155
237
294
SECURITY MARKETS
Brokers' Balances (N. Y. S. E. Members
Carrying Margin Accounts)
349
Cash on hand and in banks
mil. of doL
537
530
626
527
681
550
740
551
783
Customers' debit balances (net)
do...
813
548
551
573
565
528
542
537
563
586
530
584
586
Customers' free credit balances
do.._
596
404
254
225
493
247
329
355
244
257
399
418
416
Money borrowed
do_._
445
Bonds
Prices:
Average price of all listed bonds (N. Y. S. E.),
101.82
100. 56
100. 47
100.45
100. 58
100.98
100.49
100.18
99.85
101.40
101.80
total§
dollars..
101. 81
102.00
102. 28
100.96
101.04
101.45
101.01
100.93
100.69
100. 93
100.37
102.27
101.86
Domestic
do
102. 27
102.45
72.07
71.40
69.82
71.35
72.20
68.41
71.82
72.18
67.82
70.26
71.77
Foreign
do
72.48
72.92
Standard and Poor's Corporation:
Industrial,utility, and railroad:
103.0
High grade (11 bonds) dol. per $100 bond..
100.5
100.7
100.9
97.9
100.5
102.0
103.1
101.0
101.0
98.9
102.8
103.2
Medium grade:
92.6
92.1
91.9
91.9
91.7
91.7
92.7
91.8
91.1
90.9
93.3
Composite (12 bonds)
do
93.7
93.5
98.2
96.1
97.1
98.9
98.0
98.7
97.0
98.6
94.5
94.7
99.0
Industrial (4 bonds)
do
99.9
100.3
97.7
93.8
95.5
95.7
95.6
96.3
94.7
96.9
93.6
93.6
98.8
Public utility (4 bonds)
do
99.2
99.5
81.9
86.4
83.1
81.2
81.6
80.0
86.6
79.9
85.1
84.5
82.1
Railroad (4 bonds)
do
82.0
80.8
129.1
129.9
128.8
129.0
129.0
127.5
128.5
127.9
124.9
127.8
128.6
Domestic municipal (15 bonds)
do
128.8
129.6
103.63
101.16
101.67
101.62
101.65
101.72
101.51
103.29
100.79
100.89
103.86
103.90
U. S. Treasury bonds, taxable
do
104.22
Sales:
Total, excluding U. S. Government bonds:
All registered exchanges:
60,737
52,009
53,189
49,004
56, 225
50,767
72,615
47.468
63,470
Market value
thous. of dol. _ 63,049
51, 480
64,646
80, 599
76, 590
70,080
80,637
67,997
67,171
59, 560
89, 347
88,261
68, 959
Face value
do
78,549
87,224
84,467
New York Stock Exchange:
57,108
52,359
69,941
46,165
50,459
57,073
49,038
47,431
44.469
60,152
59,386
Market value
do
47, 938
60,157
73,916
75,419
66,056
75,821
84,074
55,721
63,601
72,458
63,433
83,409
84, 620
64, 706
Face value
do
79.064
New York Stock Exchange, exclusive of stopped
64,021
66, 223
69, 725
63,661
67,820
64,257
55,413
62, 284
78,063
63, 934
74,692
sales, face value, total §
thous. of dol__ 74,537
52
31
65
202
13
30
61
21
5
36
12
U. S. Government
do
0
3
66,171
63, 990
63,459
69, 660
64,227
55,352
74, 501
78,042
67,807
62, 279
63, 922
Other than U. S. Government, total § do
74, 692
66,836
59,388
58,779
55,150
62,188
58,133
69,115
59,523
47,169
69, 941
56,
494
54,847
Domestic
do
67.065
54,953
5,166
6,769
8,043
7,301
6,035
8,155
8,166
7,412
8,018
7,350
5,287
Foreign
do
7,598
11,804
Value, issues listed on N. Y. S. E.:
Market value, total, all issuesd"
mil. of dol.. 131,234 131,306 131,897 131,863 132,065 132,098 132,029 131,686 132, 813 133,643 132, 210 132, 221 132, 445
131,956
130,535
130,392
130,368
129, 660 130, 230 130,188
130,326
130, 000 131,124
129,600
Domestic
do
130, 509 130, 726
1,432
1,436
1,422
1,419
1,426
1,447
1,432
1,455
1,452
1,401
1,458
Foreign
do
1,390
1, 463
131, 254 129,874
131, 272 131, 304 131,360
131,381
130, 402 130,975
129, 870 129,854
Face value, total, all issuescf
do
131, 426 131, 068 131,276
129,017
128,724
127, 644 127, 608 127, 597
128,993
129,027
128,146
129,094
129,120
128, 771 128,994
Domestic
do
129,126
1,988
1,981
2,001
2,032
2,006
2,012
2,016
2,030
2,028
2,011
Foreign
do
2,050
2,048
2,007
Yields:
2.92
2.98
2.90
3.02
3.00
3.00
Domestic corporate (Moody's)
percent..
3.12
3.00
3.00
3.00
2.90
3.09
2.89
By ratings:
2.67
2.62
2.60
2.71
2.70
2.61
2.70
2.71
2.71
2.71
Aaa
do
2.84
2.79
2.60
2.75
2.71
2.69
2.81
2.79
2.70
2.79
2.80
Aa
do
2.92
2.88
2.68
2.78
2.78
3.03
2.96
2.95
3.08
3.05
2.94
3.05
3.05
A
do....
3.18
3.16
2.93
3.04
3.04
3.46
3.40
3.37
3.46
3.47
3.36
3.45
3.45
Baa....
do.
3.53
3.53
3.35
3.45
3.47
By groups:
2.75
2.70
2.68
Industrial
do..
2.85
2.80
2.79
2.78
2.78
2.68
2.89
2.78
2.78
2.67
2.89
2.86
2.84
Public utility
.do.
2.99
2.99
2.97
2.93
2.83
3.09
3.06
2.95
2.96
2.81
3.29
3.19
Railroad
do
3.26
3.24
3.27
3.29
3.20
3.37
3.26
3.20
3.27
3.36
Domestic municipal:
2.13
2.12
2.16
Bond Buyer (20 cities)
do
2.20
2.13
2.13
2.21
2.21
2.31
2.20
2.17
2.17
2.11
2.26
2.22
2.20
Standard and Poor's Corp. (15 bonds) do
2.28
2.21
2.15
2.23
2.21
2.20
2.20
2.42
2.26
2.17
2.27
2.22
2.24
U. S. Treasury bonds, taxable
do
2.42
2.38
2.38
2.22
2.39
2.38
2.44
2.44
2.20
2.38
' Revised. * Less than $500,000.
^Revisions for January-July 1948 are available upon request.
§Salesfiguresinclude bonds of the International Bank for Reconstruction and Development not shown separately; these bonds are included also in computing average price of all listed
bonds.
cPTotal includes bonds of the International Bank for Reconstruction and Development not shown separately.
SURVEY OF CURRENT BUSINESS
S-20
Unless otherwise stated, statistics through
1948 and descriptive notes are shown in the
1949 Statistical Supplement to the Survey
1948
November
January 1950
1949
December
January
February
March
April
May
June
July
August
September
October
FIN ANCE—Continued
SECURITY MARKETS—Continued
Stocks
Cash dividend payments publicly reported:
Total dividend payments
mil. of dol..
Finance
do
Manufacturing.
do
Mining
.do
Public utilities:
Communications
.....do
Heat, light, and power.
do—
Railroad
do
Trade
.do....
Miscellaneous
-do
Dividend rates, prices, yields, and earnings, 200
common stocks (Moody's):
Dividends per share, annual rate (200 stocks)
dollars..
Industrial (125 stocks)
do
Public utility (25 stocks)
..-do_-_.
Railroad (25 stocks)...
...do
Bank (15 stocks)
_._do.__.
Insurance (10 stocks).._
do
205.1
25.1
114.3
2.3
1, 318.9
111.5
838.7
119.8
532.1
103.8
223.3
14.0
204.0
37.9
99.1
2.1
705.6
38.0
440.6
65.2
474.4
68.3
217.7
6.8
193.3
27.0
102.0
1.6
825.8
68.8
515.0
70.5
493.6
105.4
226.3
5.3
35.1
93.9
1.3
725.7
43.7
448.7
63.7
463.5
70.4
207.3
.5
38.1
12.7
7.9
4.2
14.5
45.9
68.5
84.5
35.5
55.5
48.0
22.4
55.0
10.1
.4
36.8
9.7
15.8
2.2
14.1
40.8
37.5
50.2
19.2
57.5
52.1
19.7
41.8
10.5
.4
38.8
12.6
7.5
3.4
13.7
49.7
39.5
46.6
22.0
54.8
43.4
13.7
34.7
10.0
.4
40.9
5.9
9.1
3.0
24.7
57.8
27.7
48.5
20.9
55.5
57.5
15.6
42.3
8.3
3.02
3.12
3.29
2.32
2.33
1.87
3.04
3.14
3.30
2.40
2.34
1.99
3.07
3.17
3.30
2.42
2.35
1.99
3.07
3.17
3.31
2.42
2.35
1.99
3.08
3.18
3.31
2.46
2.35
1.99
3.09
3.18
3.32
2.46
2.35
1.99
3.08
3.17
3.32
2.46
2.35
1.99
3.05
3.14
3.31
2.46
2.33
2.03
3.04
3.12
3.30
2.46
2.33
2.03
3.03
3.10
3.29
2.46
2.33
2.03
3.01
3.08
3.30
2.45
2.33
2.10
3.01
3.09
3.31
2.36
2.37
2.11
Price per share, end of month (200 stocks)..do
Industrial (125 stocks)-...do
Public utility (25 stocks)
.do....
Railroad (25 stocks)
do....
44.97
44.70
54.14
31.28
46.30
46.33
54.23
31.31
46.40
46.36
54.62
31.14
44.79
44.52
54.34
46.22
46.21
54.64
29.60
45.37
45.28
54.31
28.52
43.77
43.46
53.05
27.60
43.58
43.48
52.28
26.52
45.76
46.01
53.48
27.43
46.64
46.91
54.29
27.52
47.72
48.18
54.44
28.30
49.25
49.94
55.23
28.26
Yield (200 stocks)___
percentIndustrial (125 stocks).
do...
Public utility (25 stocks)
...do...
Railroad (25 stocks).
..do...
Bank (15 stocks)
..do...
Insurance (10 stocks)
do...
Earnings per share (at annual rate), quarterly:
Industrial (125 stocks)
dollarsPublic utility (25 stocks)
do...
Railroad (25 stocks)
do...
Dividend yields, preferred stocks, high-grade, 11
stocks (Standard and Poor's Corp.)_..percent.
Prices:
Average price of all listed shares (N. Y. S. E.)
Dec. 31, 1924=100.
Dow-Jones & Co., Inc. (65 stocks) dol. per share.
Industrial (30 stocks)
do...
Public utility (15 stocks)
do...
Railroad (20 stocks)
do...
Standard and Poor's Corporation:
Industrial, public utility, and railroad:§
Combined index (416 stocks)...1935-39=100.
Industrial, total (365 stocks)
do_. _
Capital goods (121 stocks)
do_._
Consumers' goods (182 stocks)
do.. _
Public utility (31 stocks)
do...
Railroad (20 stocks)
do...
Banks, N. Y. C. (19 stocks)
do...
Fire and marine insurance (18 stocks)
do...
Sales (Securities and Exchange Commission):
Total on all registered exchanges:
Market value
mil. of dol.
Shares sold
thousands.
On New York Stock Exchange:
Market value
mil. of dol_
Shares sold
thousands.
Exclusive of odd lot and stopped sales
(N. Y. Times)
thousandshares listed, New York Stock Exchange:
Market value, all listed shares
mil. of dol_
Number of shares listed
millions.
6.72
6.98
6.08
7.42
4.87
3.30
6.57
6.78
6.09
7.67
4.74
3.34
6.62
6.84
6.04
7.77
4.67
3.33
6.85
7.12
6.09
8.39
4.70
3.33
6.66
6.88
6.06
8.31
4.66
3.27
6.81
7.02
6.11
8.63
4.71
3.34
7.04
7.29
6.26
8.91
4.75
3.38
7.00
7.22
6.33
9.28
4.76
3.52
6.64
6.78
6.17
8.97
4.70
3.35
6.50
6.61
6.06
8.94
4.51
3.26
6.31
6.39
6.06
8.66
4.52
3.21
6.11
6.19
5.99
8.35
4.41
3.10
7.65
3.95
6.29
6.00
3.73
4.04
3.84
1.72
4.21
4.15
4.09
71.4
64.90
176. 60
33.34
55.00
73.0
64.24
176. 31
33.09
53.27
120.4
126.4
116.3
122.1
94.2
108.8
92.9
131.0
*6. 25
*>3.80
'3.40
3.90
3.85
70.1
61.61
173.34
35.31
44.31
71.3
63.79
179. 24
36.54
46.14
73.1
64.68
180. 93
37.65
46.65
75.9
66.66
186.47
38.25
48.68
112.0
117.0
104.3
116.7
93.0
88.4
91.0
134.5
117.8
123.8
110.5
123.9
95.4
••90.6
92.5
138.1
121.8
128.0
114.5
127.4
98.5
94.2
95.5
144.9
123.8
130.3
116.0
129.2
100.0
95.1
96.8
149.0
127.3
134.4
119.7
133.0
101.2
97.6
99.5
157.2
765
37, 411
705
39,437
37, 950
807
39,057
871
40,437
1,083
51,455
639
26, 709
587
28, 776
526
29,139
672
28, 977
729
29, 937
906
38,474
3.98
3.97
67.9
62.79
174.03
35.73
45.90
67.0
59.25
165. 59
34.31
42.89
118.5
124.2
111.6
121.2
96.1
97.1
93.9
140.9
117.7
123.5
110.4
121.2
95.3
95.8
93.3
139.7
754
36, 915
853
40, 684
601
22,153
626
26,182
722
30, 293
18,825
17,180
21,136
19, 314
18,179
17, 767
18, 752
21,785
67,478
2,030
65, 325
2,045
67, 518
2,051
66, 238
2,060
64,147
2,072
63,921
2,140
67, 279
2,150
68,668
2,154
4.04
4.07
72.9
65.37
179. 75
34.43
53.16
63.15
174. 46
34.51
49.37
72.0
63.29
175. 88
35.08
48.19
70.5
63.47
175. 65
35.73
48.27
119.4
125.5
115.9
120.2
92.9
105.8
90.3
135.7
121.0
127.3
117.6
122.8
94.2
105.9
92.6
138.6
117.2
122.7
113.2
120.4
94.4
99.6
92.6
140.9
118.0
123.7
113.1
120.9
95.3
97.4
93.4
141.5
1,137
53,415
1,077
49,092
854
37,069
720
31,509
970
39,345
914
35,534
716
26,471
28,319
27,963
65, 466
2,011
67,048
2,018
4.07
4.04
28,891
70, 700
2,162
INTERNATIONAL TRANSACTIONS OF THE UNITED STATES
BALANCE OF PAYMENTS (QUARTER LY)J
Goods and services:
Receipts total
For goods exported
Income on investments abroad
For other services rendered
Payments, total
For goods imported
For foreign investments in U. S
For other services received
Unilateral transfers (net), total
Private
Government
mil ofdni
do
do
do
do
4,201
3,306
415
480
2,683
2,028
85
570
4,266
3,453
263
550
2,608
1,963
81
564
4,414
3,494
350
570
2,422
1,741
57
624
3 631
2 817
298
516
2,470
1,620
64
786
do
do
do
—1,149
-174
-975
- 1 , 420
-147
- 1 , 273
—1,631
— 141
— 1 , 490
—1,339
—124
—1, 215
do
do
do
-695
-173
-522
-519
-223
-296
-283
—171
-112
+32
+61
+184
+139
+45
+100
—236
-372
+136
—404
-289
—115
+158
+550
do
do
do
_
Long-term capital movements (net), total
Private
Government
Gold and short-term capital movements (net) , total
mil c)f dol
Gold and foreign short-term capital in U. S. do
U. S capital abroad
do
+70
+30
+142
+181
Errors and omissions
do....
r
Revised.
» Preliminary.
§Number of stocks represents number currently used; the change in the number does not affect the continuity of the series.
JBalance-of-payments revisions for the first two quarters of 1948 are shown on p. S-20 of the October 1949 SURVEY.
—29
72,631
2,145
November
SURVEY OF CURRENT BUSINESS
January 1950
Unless otherwise stated, statistics through
1948 and descriptive notes are shown in the
1949 Statistical Supplement to the Survey
1948
S-21
1949
November
March
April
May
July
August
October
INTERNATIONAL TRANSACTIONS OF THE UNITED STATES—Continued
FOREIGN TRADE*
Indexes
Exports of U. S. merchandise:
Quantity
Value
_
Unit value
Imports for consumption:
Quantity
1
Value
Unit value
Agricultural products, quantity:
Exports, domestic, total:
Unadjusted
Adjusted
Total, excluding cotton:
Unadjusted
Adjusted
Imports for consumption:
Unadjusted
Adjusted
1923-25=100._
do
do
do
do
do
166
219
132
350
131
222
293
132
214
277
130
243
312
129
242
310
128
230
290
126
233
294
126
194
238
123
191
234
123
196
240
123
189
226
120
132
176
133
166
221
133
137
181
133
132
174
133
150
196
131
131
165
126
133
167
126
134
166
124
117
144
123
132
161
122
135
166
123
144
176
123
130
108
115
114
120
145
125
143
117
147
116
146
115
159
84
118
91
104
77
181
163
169
175
165
207
165
192
148
174
162
180
154
181
133
164
154
155
152
124
136
106
130
129
109
104
97
97
104
91
100
97
105
102
108
99
5,654
5,657
4,975
5,315
4,700
4,978
7,945
5,829
4,907
5,750
5,308
5,975
4,553
6,217
1924-29=100..
do
do
...do
134
120
do
.do
109
Shipping Weight
Water-borne trade:
Exports, including reexports..thous. of long t o n s . .
General imports
do
5,613
5,349
5,464
5,228
7, 251
5,443
8,273
5,683
Value
Exports, including reexports, total
mil. of dol_.
B y geographic regions:
Africa
thous. of dol..
Asia and Oceania
do
Europe
do
Northern North America
do
Southern North America
...do
South America. _.
do
Total exports by leading countries:
Africa:
Egypt
do
Union of South Africa
do
Asia and Oceania:
Australia, including New Guinea
do
British Malaya
do
China
do
India and Pakistan
do
Japan
do
Netherlands Indies
do
Republic of the Philippines
do
Europe:
France
do
Germany.
do
Italy
do.
Union of Soviet Socialist Republics
do.
United Kingdom
do.
North and South America:
Canada
do.
Latin-American Republics, total
do.
A rgen tina
do.
Brazil
do.
Chile
doColombia
do.
Cuba
do.
Mexico
do.
Venezuela
do_
Exports of U . S. merchandise, total
mil. of doL
B y economic classes:
Crude materials
thous. of dol.
Crude foodstuffs
do_. .
Manufactured foodstuffs and beverages..do._.
Semimanufactures
do._Finished manufactures..
do. _.
B y principal commodities:
Agricultural products, t o t a l t . . .
do...
Cotton, unmanufactured....
do.—
Fruits, vegetables, and preparationscf-_do--Grains and preparations
do.—
Packing house productscf
do...
904
849
814
540
806
775
725
903
42, 604
172,551
284,313
146,890
104, 656
97,520
3,636
17, 525
3,589
18, 076
2,991
20, 480
12, 936
2,965
2,433
22, 738
41, 089
8,434
36, 348
7,938
2,816
965
16, 489
34, 333
7,953
28, 954
10, 606
2,616
705
13, 677
42. 586
6,605
32, 821
11,419
2,165
280
14, 675
31,838
5,813
38,969
62, 063
59,186
51, 872
89
78, 266
25, 423
64,137
23, 370
422
50, 248
22, 868
63,331
19,139
128
53, 203
26, 885
63, 379
20, 420
80
52, 095
29, 279
59,107
28, 407
60
55, 210
184, 482
221, 241
8,282
33, 938
14, 230
14,115
29, 241
36, 023
44, 265
150, 700
202, 819
13, 286
28, 690
12, 639
13, 335
25, 531
32, 866
43. 356
169, 715
204,298
13, 876
25, 025
10, 071
9,645
26, 608
31.409
38,426
151, 851
217, 072
11,464
32, 918
12, 920
11, 721
30, 963
30, 626
41, 791
145, 840
190, 310
10,177
19,464
8,952
11, 644
34,785
35,847
34, 287
823
1,317
1,104
1,043
1,177
46, 409
133,890
272,211
175,410
99, 449
95, 604
78,189
273,544
437, 815
165, 451
155,831
205, 819
53, 012
227,051
375, 213
148, 961
124,683
174, 745
35, 763
212, 567
380, 461
156, 634
113, 956
143, 770
74,087
233,399
424,668
166,393
125, 588
152,613
58,187
240,487
406, 275
188. 470
115, 026
156, 021
51, 745
214, 262
397, 947
196, 900
102, 767
125, 594
77,054
211,842
392, 005
185,624
104,906
132, 511
55, 202
194, 633
278, 506
151, 695
89, 306
128,012
37, 641
172, 717
280, 370
170, 726
106,371
112,867
2,000
31, 885
6,282
45,602
6,567
22, 345
4,874
14, 840
6,651
31,036
5,406
27, 849
4,076
28, 766
4,501
29,136
4,295
23, 416
10,393
1,598
13, 868
17, 519
18, 266
3,839
31,637
18,110
7,069
43,188
35, 882
30, 077
16, 754
53,132
14, 262
5, 766
9,982
35, 939
35, 008
18,197
44, 411
13, 431
3,592
12,076
26, 854
46,190
15, 072
35, 454
15, 203
4,293
15, 921
35, 362
46, 820
12, 991
34, 423
10, 822
3,561
26, 832
34, 492
36, 385
12,647
41, 595
13, 924
3,047
7,225
33, 268
47,819
10, 593
37,624
12, 599
2,938
2, 091
36,112
41,471
9,711
31,847
29, 907
61,354
30, 097
43
46,071
55, 926
67, 362
48, 211
605
58, 406
52,166
83, 285
36, 786
186
53,392
54, 927
71, 366
55, 487
176
59, 415
61, 244
77,161
53,980
1,901
62, 246
56, 792
72, 542
54,188
3,077
61, 770
40, 984
81,742
52, 919
384
76,160
174, 223
184,735
14, 942
29,148
5,899
9,769
32, 772
39,106
27, 923
161.043
340,194
27,155
56, 769
21, 482
18,660
46, 791
51,194
58, 440
146,696
281, 098
18,170
51, 307
13, 210
17, 745
36,676
42, 524
51,162
154,196
240, 959
9,344
44,828
11, 215
15,153
34, 386
43, 255
44,998
163,390
262, 236
9,909
42. 900
10,153
19, 575
34,183
49,045
49, 706
187, 550
254,057
9,858
36, 023
14, 527
19, 336
29, 527
44, 403
54, 372
194,130
213, 676
5, 794
28, 959
12. 346
14, 698
27, 240
42, 092
45,973
1,164
1,089
1,079
1,104
49,
184,
285,
152,
104,
126,
895
872
••843
816
1,304
1,092
1,033
1,164
146, 712
96,545
80, 444
84, 006
408, 337
183, 943
116,619
122, 709
128, 860
752,131
141,465
120, 725
94, 594
127, 345
607, 406
153,848
130,405
84,165
119, 230
545, 221
170, 551
144, 723
76, 915
138,809
632, 726
196, 206
98, 538
97, 030
133,125
629, 801
173,496
139,075
86,136
127, 212
553,399
179, 646
111,521
86,971
125, 932
589, 346
97,997
97,938
71, 635
104, 687
515, 457
108,
124,
50,
100,
489,
786
549
013
593
213
122,
102,
53,
104,
512,
821
400
054
353
765
133,
83,
63'
86,
474,
275,146
74, 777
17, 070
108, 440
8,181
383,
91,
27,
142,
18,
324, 605
68,883
18, 372
140,440
13, 447
338, 367
85, 049
18,136
143, 356
13,558
362, 864
98, 538
23,642
148, 701
17, 690
341, 983
100,674
18, 352
114, 239
24, 751
343,407
80, 653
15, 469
151,083
17, 901
320,157
90,191
13, 813
118, 565
21, 715
234,863
38, 729
10, 008
110, 907
14,140
244, 227
28,381
9,389
125, 405
12, 778
245,
36,
11,
105,
12,
950
126
299
949
429
259, 530
69, 358
18,402
93,117
10, 225
597
623
060
622
849
1,155
1,093
223
992
508
757
576
582, 525
628, 926
652, 651
649, 442
735, 912
773, 260
800, 860
812, 716
694, 502
766, 931
920, 666
540, 899
Nonagricultural products, total!
do.
1
i 15,128
6, 776
i 7, 891
i 6, 865
i 8, 673
» 7,449
15, 282
15, 094
14,135
13,486
15, 889
11,052
Aircraft, parts, and accessories
do
i 53, 367
64, 968
61, 380 i 59, 360 i 53, 421 i 56, 635
77, 598
73,359
70, 096
72,015
90,166
47, 567
Automobiles, parts, and accessoriescTL-do
58,397
58, 550
58, 812
58,190
63,712
64, 379
76,503
73,834
67, 262
63,996
85, 121
51,311
Chemicals and related products^
do
3,727
3,539
4, 243
5,514
7,396
7,832
7,738
5,719
5,358
10, 260
5,625
Copper and manufactures d1
do
5,258
64,107
67, 795
67, 662 1 37, 784
70,440
78, 761
68, 449
76, 711
59,316
66,027
Iron and steel-m ill products
do.
69,374
36, 075
175,294
220,324
230, 588 i 205, 299 i 222, 687 i 201, 455 i 179,388 i 190, 458
190,666
209,389
239. 944
126, 638
Machinery, totalcf
do.
7,897
10,199
11,344
8,924
14,785
13,041
12, 461
14,010
10,535
10, 697
11,119
5, 920
Agriculturald"
do
1
i 20, 700
i 20, 952 i 24,192
25, 938 i 26, 644 > 24,374
31, 867
31, 593
26, 809
22, 785
27, 262
19, 980
Tractors, parts, and accessories*
do
i 34, 048
i
35,
290
i
33,719
i
31,
050
i
34,610
i
36,
663
42,
986
43,364
37,
338
41,624
55,
370
27,
069
Electrical cf
do.
r
16, 046
14,836
19,194
15, 792
15,315
17,109
17, 048
17,475
15,566
14,864
19, 238
7,951
Metal working
do.
75,389
79,343
88, 365
90, 298
94, 695
107, 518
103, 828
112, 749
90, 641
107, 450
112, 279
59, 376
Other industrials
do
42,654
48, 708
39,965
40, 397
54, 252
47,193
53, 235
54,042
49, 651
55, 443
56, 770
43, &32
Petroleum and products
do.
49,872
44,082
45,760
50, 270
55,413
57, 964
65, 218
61, 525
71, 507
60, 599
91,397
50, 477
Textiles and manufactures
do
Data are not comparable with earlier figures because of the exclusion of'special category" exports not shown separately in the interest of national security.
x in most of the foreign-trade items and there will be further changes
^Revisions
forr variouFperiodYin
and 1948
1948 have
have"been"made"(sinceVublIcatron
of the 1949 STATISTICAL SUPPLEMENT)
various periods in 19*47
1947 and
been made (sir
'
-------—•—---.*--•*
-—
-.
T
" ' data
" ' are completed
. . . by
. . the
. _Bureau of-the
.. ~
g, moreover, the revaluation of tin imports and the transfer of certain "relief and charity" food items from the nonagriculbeginning 1946 as final
Census,
tural exports group to the agricultural group have affected the pertinent series back to 1942. Revisions are available upon request.
cTData beginning 1948 have been adjusted in accordance with the 1949 commodity classifications. Revised figures for January-July 1948 are available upon request.
*New series; included with agricultural machinery prior to 1948.
SURVEY OF CURRENT BUSINESS
S-22
Unless otherwise stated, statistics tlirough
1948 and descriptive notes are shown in the
1949 Statistical Supplement to the Survey
1948
November
January 1950
1949
December
January
February
March
April
May
June
July
August
September
October
November
INTERNATIONAL TRANSACTIONS OF THE UNITED STATES—Continued
FOREIGN TRADE§—Continued
Value—Continued
719,748
General imports, total
thous. of dol.. 554,289
By geographic regions:
35,177
22,540
Africa
do
96 118 178,851
Asia and Oceania
do
83, 204 113,201
Europe
do
148. 803
170,648
Northern North America
do
56,140
83,476
Southern North America
do
160,239
125, 578
South America
do
By leading countries:
Africa:
206
350
Egypt
do
10,849
11,029
Union of South Africa
do
Asia and Oceania:
4,999
13,171
Australia, including New Guinea
do
14,309
34, 206
British Malaya
do
13,736
9,315
China
do
26, 976
17,125
India and Pakistan
do
7,482
6,214
Japan
do
15, 235
8,333
Netherlands Indies
do
25,081
11,546
Republic of the Philippines
do
Europe:
5,521
7,343
France
do
3,516
3,491
Germany
do
9,049
11,831
Italy
do
6,745
6,592
Union of Soviet Socialist Republics.. _-do
19, 460
29,698
United Kingdom
do
North and South America:
165, 928 145, 955
Canada
do
228, 936
169, 294
Latin-American Republics, total
do
9, 830
6,908
Argentina
do
62, 327
48, 393
Brazil
do.__.
18, 327
11, 876
Chile
do___.
28, 699
22, 840
Colombia
do
26, 630
15, 965
Cuba
do
25,232
19,970
Mexico
do
24,946
25,105
Venezuela
do
• 561,413 • 704,140
Imports for consumption, total
do
By economic classes:
150,651
201,472
Crude materials
do
116,158
145,154
Crude foodstuffs
do
53,429
63,862
Manufactured foodstuffs and beverages, -do
127, 895
165, 627
Semimanufactures
do
113,285
127,945
Finished manufactures
do
By principal commodities:
Agricultural products, total
d o — 232, 428 313,886
60, 865
85, 764
Coffee
do
5,064
6,331
Hides and skins
do—
22, 758
37, 862
Rubber, crude, including guayule
do
1,091
1,543
Silk, unmanufactured
o—
21,003
13,452
Sugar
do—
18, 531
16, 456
Wool and mohair, unmanufactured
do
Nonagricultural products, total
d o — 328, 990 390,175
9,226
11, 932
Furs and manufactures
do—
Nonferrous ores, metals, and manufactures,
59,112
88,028
total
thous. of doL.
15, 888
22, 804
Copper, incl. ore and manufactures.._do
11,361
24, 706
Tin, including ore
do—
20, 974
22,562
Paper base stocks
do
39, 609
39,081
Newsprint
do
41,454
43, 907
Petroleum and products
do
590,188
566,600
632,399
534,371
540,077
526,806
456,083
490, 569
529,900
559,100
26, 418
124,151
90,053
127, 065
78,146
144, 355
28, 997
124, 420
89, 376
119,429
91. 716
114, 552
47,397
128,173
90, 532
133,071
108, 795
124, 431
21,100
128, 246
66, 793
122,139
86,131
109, 962
24, 845
126, 670
67, 287
129,581
81, 601
110,093
27, 625
106, 262
69, 054
130,657
83, 233
109, 975
23,472
94.110
58, 425
107, 445
68, 529
104,103
19, 960
101, 594
64, 268
120, 745
68,611
115,391
29,181
98, 087
79, 090
118,957
68, 456
136, 787
27.105
110,058
79, 554
139, 278
69, 664
132, 933
261
9,558
342
7, 567
367
12, 693
231
6,295
429
7,277
76
5, 053
189
9,339
62
8,852
6,907
9,658
170
12, 439
9, 387
17,159
11,839
26. 544
7,144
9, 992
14, 963
11,772
13,639
15, 757
25, 949
9. 206
7. 260
15, 159
9,570
25,185
8,011
25, 278
7, 625
8, 758
17, 029
5,318
25, 745
5, 987
29, 582
6, 355
12,117
15,075
13,913
13,808
6, 501
20,949
5, 535
10,833
22,856
11,812
9,901
5,888
21, 834
6.635
11,335
20, 441
2,726
10, 822
7,749
14, 140
5.574
8.904
21, 874
5,183
17,082
8,878
17, 252
5,766
8,932
20,569
4,647
15, 484
6,470
18, 573
6,792
10, 086
16, 543
5,153
15, 475
9. 430
20, 545
6. 275
12. 090
17, 043
6,459
4.648
7,903
1,613
24. 835
5, 847
4,994
5.788
3, 257
20. 550
5,464
6,154
6, 398
4, 293
22, 695
5,247
4, 371
4,418
1,318
14,097
3,793
4, 606
3,789
4,209
15. 232
3,672
2, 896
6,326
4, 609
14,707
3,926
1,499
5, 430
3, 531
15,106
4,972
2, 836
6, 817
2,960
16,122
4,844
2,484
4,406
7,090
20, 546
122.013
209,143
15,234
47, 418
15,084
21.749
25, 067
24, 209
24, 566
578. 920
115,739
195. 249
11,133
33, 467
18, 552
16, 202
37, 404
24, 664
20,820
554,700
128, 306
221,706
3,869
39, 270
19, 530
21,923
47, 458
25, 963
20,755
823, 862
119,974
185, 063
4, 500
41,919
13, 528
16,198
36, 514
21,725
22, 628
526. 769
126, 522
181,909
6, 790
34,163
18, 760
14,168
37, 453
19,918
23,114
533,052
127, 664
182, 680
7,543
36. 944
14. 367
18,324
35,069
23, 761
21,022
530,346
105, 366
162, 273
5, 637
34, 037
7.648
22, 634
30, 451
13. 356
23. 620
458, 614
117,386
174, 687
5,044
39,866
11,958
21,844
33, 351
15,080
21,680
512, 744
116, 987
193, 420
6,716
53,784
10, 046
20,648
32, 364
15.963
23, 357
528,100
136, 951
188, 680
8,767
48, 851
6, 519
23, 754
32, 014
16. 694
27, 045
5<>1, 478
181.419
109, 622
50,414
127 995
109,469
158,235
99,434
58.105
131.896
108, 904
164,599
131,165
73,308
137, 502
117, 288
146.104
109, 909
60,917
110,111
99, 728
154,824
90, 281
69, 052
113,636
105, 260
150,119
103,701
68,121
109, 607
98, 797
126,
92.
65,
84.
89,
868
460
224
300
762
138,476
91, 695
69. 248
113,698
99. 628
161.150
103, 254
60 023
105, 441
99, 445
160,393
110. 495
64, 850
121,045
104, 696
252,318
71. 555
5,646
27. 669
2.517
19, 792
21.307
326, 602
6. 764
238.284
57,396
4,780
22, 580
3,129
32, 659
21,820
318, 290
7,012
275,181
73, 671
5,465
21,698
1,006
44, 278
16, 428
348, 681
11, 457
227,050
58, 906
5,439
19, 387
34
35, 209
10,813
299, 719
9,127
216, 255
48, 995
7,051
19, 933
42
39, 770
10, 629
316, 798
11, 936
234, 878
56, 038
6,173
19,198
86
38, 276
15, 605
295, 468
8,072
205, 207
58, 596
6, 157
16. 649
23
36, 525
11, 671
253, 407
9,270
225, 277
55,294
7, 044
17,171
45
37, 683
20. 734
287, 467
8,270
240, 370
66, 037
6. 661
15,165
71
28, 297
22, 553
288,942
11, 002
241, 640
65. 812
6, 045
15, 892
156
29, 276
22, 472
319, 838
13, 651
74, 599
23,313
9,591
17,869
35, 442
44, 004
66, 571
26,120
11,007
22, 322
34,210
36, 820
86, 959
28, 967
26, 683
17,948
37, 404
35, 875
73, 767
21, 574
28, 383
12,427
34, 200
38, 244
72,041
20,558
17,518
17,925
39,195
36,855
528
007
685
253
942
490
59, 266
15,196
18, 892
16,478
38,192
35,417
51, 043
13,179
21, 370
13, 677
33, 394
38, 191
66,
17,
13,
17,
37,
37,
374
763
495
838
261
473
39,
11,
11,
14,
35,
36.
4.
2,
7,
2,
18,
59.
13.
26.
19.
37,
46,
596
588
518
577
919
711
024
707
132
498
314
TRANSPORTATION AND COMMUNICATIONS
TRAN SPORTATION
Airlines
Operations on scheduled airlines:
Miles flown, revenue
thousands,.
Express and freight carried
short tons__
Express and freight ton-miles
flown..thousands-.
Mail ton-miles
flown
do
Passengers carried, revenue
do
Passengers-miles flown, revenue
do
25,361
14, 973
9. 509
3, 360
440,971
26, 250
17,636
11,085
5,098
978
473, 636
23,141
12,176
7,859
3,292
821
418, 212
23,146
11,819
7,598
3,207
868
420,147
26, 852
15, 871
10, 763
3,633
1,092
519,072
26, 884
16, 489
10, 991
3, 554
1,226
561,312
28, 257
14, 764
8,921
3, 320
1,311
591,198
28,089
13,951
8, 938
3, 233
1,389
659, 605
29, 257
13,082
8,177
2,915
1, 342
621,449
29, 371
15,734
10,177
3,116
1,326
607, 332
28, 084
18,161
11, 381
3.094
1,339
616,559
28,116
19.014
11. 791
3 248
1 286
593, 402
thous. of doL_
do
23,373
12
28, 585
61
23,105
28
22,027
20
20,235
42
19, 992
44
21, 810
19
20,877
1
19, 736
**5
19,324
20, 487
51
19 808
41
cents,.
millions..
thous. of dol_.
9.0998
1,389
130,600
9.1338
1,475
143, 700
9.1727
1,396
128, 700
9.1922
1,271
117, 300
9. 2092
1,421
130,000
9.2287
1,358
130,400
9.2895
1,331
127, 700
9.3114
1, 268
122,000
9.3869
1,169
116, 400
9. 4501
1,193
121,600
9. 4793
1,220
116, 800
9. 5158
1,265
125,100
9. 5523
1,226
2,959
537
48
155
209
30
318
354
1,309
3,406
416
44
175
361
40
389
420
1,560
2,923
459
38
163
216
41
277
364
1,364
2,733
377
39
153
185
54
248
328
1,349
2,997
239
25
202
272
90
85
441
2,638
55?
2f
16G
206
52
52
234
966
Express Operations
Operating revenues
Operating income
Local Transit Lines
Fares, average cash rate
Passengers carried, revenue
Operating revenues!
Class I Steam Railways
Freight carloadings (A. A. R.):cf
Total cars
thousands..
' 3, 296
2,951
3,428
2,619
2,767
3,804
3,099
Coal
do
642
621
756
361
607
772
633
r
Coke
do
61
59
78
63
56
73
54
Forest products
do
169
156
168
131
146
182
159
Grain and grain products
do
207
193
215
156
186
214
188
Livestock..
do
62
47
51
34
34
47
37
Ore
.
do
'217
78
59
52
59
312
303
Merchandise, 1. c. 1
do
'412
369
434
369
383
475
374
r
Miscellaneous
do
1, 527
1,428
1,666
1,394
1,356
1,730
1,350
r
Revised. d Deficit.
§See note marked " J " on p. S-21. JData for 1947 revised; see note marked "%" on p. S-22 of the September 1949 SURVEY.
<? Data for January, April, July, and October 1949 are for 5 weeks; other months, 4 weeks.
1,642 I
SURVEY OF CURRENT BUSINESS
January 1950
Unless otherwise stated, statistics through
1948 and descriptive notes are shown in the
1949 Statistical Supplement to the Survey
1949
1948
November
S-23
December
January
February
March
April
May
June
July
August
September
October
November
TRANSPORTATION AND COMMUNICATIONS—Continued
TRANSPORTATION—Continued
Class I Steam Railways—Continued
r e i g t carloadings (Federal Reserve indexes):
141
Total, unadjusted
1935-39=100..
128
Coal
do-. -.
138
131
201
Coke
_
do
198
123
Forest products
do
141
Grain and grain products
do
138
152
Livestock
do
82
114
62
Ore
do
196
60
Merchandise, 1. c. 1
do
68
139
M iscellaneous.
do
149
137
Total, adjusted
do
137
131
Coal
do
138
192
Coke
do
198
139
Forest products
do. _
144
Grain and grain products
do
147
155
85
90
Livestock
do
201
178
Ore
do
62
66
Merchandise, 1. c. 1
do_ _.
M iscellaneous
do
144
148
Freight-car surplus and shortage, daily average:
Car suiplus, total
..number4,473
11, 573
Box cars
do
161
1,902
653
4,781
Coal cars.__
do
11,339
Car shortage, total
do
1,561
7,254
Box cars
do
791
3,469
Coal cars...
do.-.
670
Financial operations (unadjusted):
- Operating revenues, total
thous. of dol_ 1 825, 346 806, 554
'691,195
648, 028
Freight 1
do
90, 671
74, 220
Passenger
.-do
• 637, 487 648, 742
Operating expenses
do
Tax accruals, joint facility and equipment rents
thous. of dol_. " 103, 791 93,150
r
64,662
Net railway operating income
do
84, 068
49, 890
Net incomeJ
do
61, 760
Financial operations, adjusted:
810.6
832.9
Operating revenues, total
mil. of doL
659. 4
Freigbt
do
695.9
89.2
Passenger
do
77.8
738.6
Railway expenses
do
751.7
72.1
Net railway operating income
do
81.2
40.0
Net income
do
48.6
Operating results:
52, 541
56,162
Freight carried 1 mile
mil. of ton-miles..
1.312
Revenue per ton-mile cents.
1.300
3, 538
Passengers carried 1 mile, revenue
millions.
2,990
120
130
198
116
125
76
44
57
129
131
130
189
129
125
79
175
60
141
31, 831
6, 031
16, 221
657
212
429
117
124
198
107
111
60
46
58
128
126
124
187
112
113
75
185
61
136
111
79
175
117
128
61
68
61
131
120
79
174
117
139
77
236
60
138
125
129
184
119
121
68
228
60
130
127
129
188
119
138
76
215
59
132
125
130
171
128
132
66
267
59
127
124
130
173
123
150
73
215
59
126
119
98
147
127
159
54
282
57
126
115
98
150
122
156
70
182
58
122
115
79
115
117
212
60
284
55
121
110
79
118
117
177
70
177
55
120
119
95
119
131
149
73
240
57
128
115
95
123
125
138
77
160
57
127
116
68
128
130
140
104
218
55
135
106
68
130
121
125
79
145
52
125
99
42
53
131
153
131
35
56
121
92
42
54
124
153
85
28
54
111
118
122
96
135
149
95
51
55
124
115
122
96
137
152
75
42
54
119
60, 063
14, 930
34, 917
549
103
320
114, 926
17, 803
87, 579
510
165
198
78,336
28, 672
39, 994
236
35
74
49, 195
34,365
4,321
375
71
164
60,075
35, 263
14, 783
395
184
36
86, 418
17, 839
59, 834
1,741
1,632
5
63,822
11,103
43,570
2,451
2,254
113
74, 760
7,711
62,109
3,568
1,943
104
190,978
3,451
183, 594
10, 924
10,346
132
100, 208
2,368
92, 938
5, 964
3, 918
1,909
648
811
564
818
742, 877
606,201
78, 606
587,116
694, 969
569, 491
69,833
540, 988
648, 924
534, 885
60,993
520, 920
704,806
587, 060
63,776
537, 354
91, 869
75, 582
058
074
608
933
747, 259
620, 293
68, 659
594, 270
739,
616,
67,
587,
78,217
29, 754
4, 635
85, 708
65,417
41, 494
767.8
627.2
85.1
703.4
64.4
34.2
739. 7
609.0
74.7
688.5
51.3
20.4
49,197
1.292
3,368
069
923
858
852
735, 439
599, 507
77, 076
588,177
88, 226
64, 763
39, 989
82, 621
57, 595
32, 209
85. 998
61, 263
42, 476
80, 493
50, 337
26,861
90.034
65. 727
39, 061
90, 444
63, 538
38,131
81,219
46, 786
23, 592
721.6
596.0
68.4
662.6
59.0
26.4
741.9
610.4
71.0
689.1
52.8
21.3
736.9
611.7
68.6
676.2
60.6
29.2
748.3
614.5
74.4
677. 0
71.3
37.8
700.9
570.1
75.7
649.8
51.1
19.0
697.3
569.0
70.1
659.1
38.2
5.2
685.2
560.2
70.1
633.1
52.1
r
18.9
622.9
511.0
62.3
512.5
31.0
45,359
1.314
2,740
46, 716
1.397
2,744
50,199
1.321
2,770
51,607
1.283
2,735
47, 964
1.332
3,111
44, 991
1.345
3,385
47,107
1.338
3,256
44, 219
1.363
2,910
40,554
1.400
2, 533
686
747
522
269
675, 749
559, 186
67, 374
567, 778
81,173
33,244
11, 884
730,
594,
81,
616,
741,
615,
67,
600,
700,
562,
82,
569,
Waterway Traffic
Clearances, vessels in foreign trade:
Total U. S. ports
thous. of net tons..
Foreign
do
United States
do.__.
Panama Canal:
Total
thous. of long tons_.
In United States vessels
do
Travel
Hotels:
Average sale per occupied room
dollars. .
Rooms occupied
percent of totaL.
Restaurant sales index
same month 1929=100. _
Foreign travel:
U. S. citizens, arrivals
number..
U. S. citizens, departures
do
Emigrants
do
Immigrants
do
Passports issued
do
National parks, visitors
thousands. _
Pullman Co.:
Revenue passenger-miles
millions. _
Passenger revenues
thous. of dol__
6,307
3, 232
3,075
6,567
3,101
3,466
5,892
3,015
2,876
5, 567
2,797
2,768
6,649
3,401
3,248
7,751
3, 933
3,819
8,305
4,425
3,880
8,389
4,579
3,810
7,282
3,989
3,294
7,489
4,076
3,412
7, 232
3,890
3,342
6,456
3,378
3,077
6,349
3,414
2,934
1,764
687
1,827
909
2,341
1,179
1,981
877
2,554
1,280
2,525
1,174
2,426
1,049
2,330
1,116
2,387
1,047
1,979
2,125
1,166
2,297
1, 313
2,079
1,079
5.70
84
225
5.25
73
204
5.41
83
222
5.38
86
222
5.15
85
210
5.62
84
228
5.16
84
234
5.48
84
233
5.27
78
211
5.84
81
222
5.59
86
223
5.71
86
213
5.81
80
218
55, 907
54, 681
1,883
16, 662
34, 761
243
50, 397
53. 899
2, 152
17,074
32,319
433
47, 743
53,966
2,078
22, 038
34, 602
803
51, 062
71, 695
2, 568
20. 809
32, 294
1,732
73,171
41, 927
54, 039
2 37,141
39, 246
15, 501
1,446
13, 592
678
13,608
298
8,135
833
7,732
807
7, 512
44, 540
25, 648
1, 318
15, 321
11,134
215
44, 071
36, 280
2, 300
20, 941
12, 669
150
39, 348
40,048
1, 569
12,612
16, 744
155
47, 540
48,161
1, 461
10,965
21, 975
177
922
8,396
933
8,417
1,187
10, 814
943
8,600
941
8,663
868
7,883
796
7,370
237,672
136, 254
84, 528
190, 563
23,086
33, 205
246, 660
139,080
90, 172
201,623
20, 461
33, 462
242, 267
139, 855
85, 361
193, 151
21,517
33,686
232,667
137,065
78, 603
184, 629
21,059
33,894
247, 769
141,270
88, 969
198,130
22,164
34,129
245, 937
141, 955
86, 591
193,094
23, 958
34,318
250,363
143, 750
88, 844
197,138
24, 266
34, 493
253, 432
146, 744
88, 828
196, 856
26, 458
34, 635
15, 959
17,154
1,989
14,024
14,124
13,227
13,171
d
756
14, 955
14,345
d
166
14,354
14,167
14, 819
14, 228
15,098
13,901
360
1,942
1,709
40
2,362
1,837
315
1,939
1,611
123
1,931
1,584
137
2,090
1,662
232
1,944
1,696
55
1,848
1,850
d
63
2,121
2,020
47
11,820
i 1 , 783
i 1 , 844
i 1 , 747
127
i 2,067
11, 856
i 148
r
2
64, 588
77, 419
79, 459
2 53, 058
19, 688
3,333
19,847
3,126
841
7,731
825
7, 587
2
COMMUNICATION S
Telephone carriers :f
Operating revenues
thous. of dol__
Station revenues
do
Tolls, message
do
Operating expenses, before taxes
do
Net operating income
do
Phones in service, end of month
thousands..
Telegraph, cable, and radiotelegraph carriers:
Wire-telegraph:
Operating revenues
thous. of dol._
Operating expenses, incl. depreciation
do
Net operating revenues
do
Ocean-cable:
Operating revenues
do
Operating expenses, incl. depreciation do
Net operating revenues
do
Radiotelegraph:
Operating revenues
do
Operating expenses, incl. depreciation
do
Net operating revenues
do
r
14, 493
14,069
d
11, 896
i 1, 862
i d53
2,078
1,675
180
2,019
1,822
i 1,979
U,843
152
11, 950
11, 845
116
249,852
144,576
87, 490
195,617
24, 671
34, 766
258,353
146, 891
93, 449
199, 772
27, 433
34, 902
257,096
149,629
89,507
196, 780
28, 827
35,059
262, 534
154,018
90, 258
195,137
33,119
35,231
13, 582
13, 939
1,123
14,870
13,964
156
14, 523
13, 420
314
13,944
12, 984
253
1,826
1,764
d
127
1,892
1,733
d
20
1,948
1,617
149
1,817
1, 506
145
1, 793
i 1, 809
i d99
i 1,925
11,800
i 1, 957
i 1, 696
U85
i 1, 938
i 1, 741
i 126
d
1
Revised.
<* Deficit.
JRevised data for October 1948, $83,655,000.
1 Beginning January 1949, data are compiled from reports of carriers having operating revenues of $250,000 or more; however, the one company excluded on the new basis accounted for only
0.3 percent of total revenues in December 1948.
2 Beginning July 1949, data exclude departures via international land borders; land-border departures during the 12 months ended June 1949 amounted to less than 1 percent of total departures.
luced from 100-120 to 53 carriers; however, the comparability of the series, based on annual operating revenues, has been affected by less than
fRevised series. The coverage has been reduced
3.0 percent. Also, data are now shown after elimlination of intercompany duplications for the Bell System; figures prior to August 1948 on the revised basis will be shown later. Data relate to
continental
United States.
SUEVEY OF CUR-BENT BUSINESS
S-24
Unless otherwise stated, statistics t h r o u g h
1948 a n d descriptive notes are shown i n t h e
1949 Statistical S u p p l e m e n t t o t h e Survey
January 1950
1949
November
Decemher
January
February
March
October
CHEMICALS AND ALLIED PRODUCTS
CHEMICALS
Inorganic chemicals, production:
Ammonia, synthetic anhydrous (commercial)
short tons..
Calcium arsenate (commercial)
thous. of lb_.
Calcium carbide (commercial)
short tons..
Carbon dioxide, liquid, gas, and solid
thous. of lb..
Chlorine
short tons..
Hydrochloric acid (100% HC1)
do....
Lead arsenate (acid and basic)
thous. of lb_.
Nitric acid (100% HN0 3 )
short tons..
Oxygen
mil. of cu ft..
Phosphoric acid (50% H3PO4)
short tons..
Soda ash, ammonia-soda process (98-100% Na?
C03)
short tons_.
Sodium bichromate and chromgte
do
Sodium hydroxide (100% NaOH)
do
Sodium silicate, soluble silicate glass (anhydrous)
short tons..
Sodium sulfate, Glauber's salt and crude salt
cake
short tons..
Sulphuric acid (100% H2SO4):
Production
do
Price, wholesale, 66°, tanks, at works
dol. per short ton..
Organic chemicals:
Acetic acid (synthetic and natural), production
thous. of lb_.
Acetic anhydride, production
do
Acetyl salicylic acid (aspirin), production ..do
Alcohol, denatured:
Production
thous. of wine gal. _.
Consumption (withdrawals)
do
Stocks
do
Alcohol, ethyl:
Production
thous. of proof gil..
Stocks, total
do
In industrial alcohol bonded warehouses, do
In denaturing plants
do
Withdrawn for denaturing
do
Withdrawn tax-paid
do
Creosote oil, production
thous. of gal..
Ethyl acetate (85%), production
thous. of lb_.
Glycerin, refined (100% basis):
High gravity and yellow distilled:
Production
thous. of lb_.
Consumption.
do
Stocks
do
Chemically pure:
Production
_
do
Consumption
do
Stocks
do___.
Methanol. production:
Natural (100%)
thous. of gal..
Synthetic (100%)
do.....
Phthalic anhydride, production
thous. of lb_.
93, 923
0)
55,347
99,303
61, 918
56, 480
103, 418
129
58,123
109, 306
1,159
50,763
110,129
1,515
45, 804
103,217
1,871
47,424
109, 505
3,070
44, 227
113,894
2,969
42,009
105, 443
57, 971
40, 286
47, 274
60,734
147,451
38, 889
60, 371
152,838
39, 378
3, 866
97, 854
1.403
112, 257
58,183
136, 431
38, 994
4,089
90,545
1,364
107,134
73, 255
148,693
42, 297
2, 833
85, 680
1,471
113, 927
75. 758
140,791
40,267
1, 627
101,790
1, 367
108,045
103, 665
143,718
37, 825
711
99, 800
1,286
111,040
116, 758
134, 572
34, 833
784
97, 476
1,048
97, 252
131,141
139,163
35, 978
132, 266
147, 825
39, 709
95. 085
147, 214
41,030
91, 348
1,386
104, 433
59, 668
154, 469
39, 237
1.648
95,099
1,409
109,149
0)
0)
90, 382
1,042
101, 682
93,308
1,184
109,100
95, 721
1,174
111,224
82, 139
•151,128
f 43, 616
0)
85, 208
829
' 124, 479
398.158
8,277
212, 494
406,026
8,328
221, 479
372, 224
8,913
209, 891
329, 076
7,987
188,340
349,849
8,116
192, 947
312,647
7,105
175,850
285,741
5,286
176, 703
309,379
4,648
170, 283
289, 943
4,029
163, 678
305, 469
5,575
175. 933
317, 406
5, 552
182,143
328, 899
5.938
189, 367
46,868
38,049
35, 914
31, 683
35, 423
32, 579
43, 277
37, 658
26, 446
28, 284
37,159
73, 721
71, 868
72,477
67,539
65, 623
60, 834
54, 485
48,393
42,176
58, 794
49, 377
944, 268
989,887
964, 506
868,584
978, 251
908, 599
937,255
859, 275
833, 063
871,458
840, 955
891, 334
17.00
17.00
17.00
17.00
17.00
17.00
17.00
17.00
17.00
17.00
17.00
17.00
41, 238
73, 450
1,088
43, 496
67, 941
1,113
41,366
66, 520
1,180
34, 739
57, 807
1,069
30,496
48,157
609
29,617
39, 459
804
29, 521
39, 775
940
25, 420
35,334
1,009
29, 698
40, 528
250
31, 638
50, 785
908
34, 788
62,927
813
39. 667
68, 704
927
16,013
16,175
1,817
15,765
15, 257
2,191
12, 855
12, 929
2,193
11,121
10,112
3,232
15,121
14,088
4,248
14,468
12, 996
5,708
13.883
12, 975
6,604
16. 575
14, 430
8,746
10, 097
10, 556
8,266
12,313
12, 444
8,126
13, 947
15, 341
6,732
14, 845
15, 259
6, 313
33, 603
31,999
31,496
503
29.134
5,114
13, 436
4,904
30,795
34, 917
34,317
601
29,339
3,159
12, 591
8,279
26, 567
37,154
36,587
567
23, 661
2,943
13,137
6,379
22, 376
37, 727
37, 434
293
20, 165
3.184
13,435
3,646
28, 426
37, 741
37,454
288
27, 834
2,944
13, 861
6,374
36, 232
43, 842
43, 373
469
27,027
2,541
13, 250
6,416
33,855
49, 950
49,441
510
25, 770
3,022
13, 728
5,368
31, 796
51.015
50, 544
471
30,593
3.040
13, 215
5,479
23, 760
53, 788
53, 273
515
18, 663
2,664
10, 542
5,798
26, 660
56, 588
53, 527
3, 061
25, 176
3,572
10,005
6,424
22, 770
52. 426
50, 052
1. 775
24. 362
3. 672
10.492
5.339
22, 679
43. 133
41, 919
1.214
27, 117
.3, 036
5. 636
6, 852
6.980
13,538
7, 203
6,652
13,692
5,920
6,289
13,905
4,689
5,774
12,679
6,234
6,305
12, 406
6,213
6,182
12, 936
6,089
6,341
12,110
7,907
6, 668
13,596
4,692
5,700
11,316
6, 781
7,068
11,580
7,528
7, 397
11,790
7, 550
6.913
12,123
9,240
7,544
18, 640
10.600
7,551
20,565
10,530
7,907
21, 987
8,956
6,921
21, 764
9,973
7,621
21, 307
8,910
7,065
20, 685
9,246
7,189
20,393
8,617
6,947
18,211
6,258
6,286
14, 926
11,591
8,181
15, 674
11,165
7,729
15, 479
11,655
8, 054
17,214
192
16,342
15, 921
181
15, 950
15, 873
198
14.506
16, 295
172
12,783
12, 815
187
14,038
12, 470
166
11,417
10,192
223
8, 864
9,507
146
7,023
8,018
136
7,609
7,104
157
8,059
10,103
146
9.323
12, 602
105
11.143
16, 284
r 1, 234
250,058
99, 590
138, 789
9,133
152,777
123.809
61,341
3,215
13,130
r
739
207. 809
63, 127
129,643
7,828
176,584
141,302
86, 544
13.333
548
308
264.575
79, 592
172, 841
8,410
69, 454
54, 254
32, 681
8,130
1
279
351.947
87, 853
229, 784
8,103
120,479
100, 699
52, 377
13, 570
0
511
• 289,754
98.0H4
' 162,598
15,392
117.352
106, 241
52,016
54.50
114, 673
54. 50
78, 290
54.50
77,015
54. 50
103, 936
54. 50
92, 825
994,691
802, 638
928, 882
824,080
0)
0)
99,057
0)
90, 917
0)
108, 604
0)
0)
0)
49,912
r
56, 166
FERTILIZERS
r
r
r 1,478
'568
r 1, 950
1,311
779
Consumption, (14 States)!
thous. of short tons..
214,591
254, 928
200, 858
167,559
Exports, total
short tons.. 207,704
91,321
97, 587
104,414
93, 869
42, 756
Nitrogenous materials
do
82, 149
100,172
92, 242
123, 799
102. 382
Phosphate materials
do
12,283
9,845
8,116
7,993
9,201
Potash materials
do
87,081
144,203
170, 937
116, 635
98,651
Imports, total
do
74,175
130,339
150, 466
93, 869
79, 805
Nitrogenous materials, total
do
88, 559
82,123
49,913
41,840
45,199
Nitrate of soda
do
464
4.856
8,401
9,774
3, 404
Phosphate materials
do
5, 962
241
1,964
8,020
0
Potash materials
do
Price, wholesale, nitrate of soda, crude, f. o. b. cars,
54. 50
54. 50
54. 50
51.50
51.50
port warehouses
dol. per short ton_.
90, 604
100,338
103,032
Potash deliveries
short tons.. 102,160
Superphosphate (bulk):
856, 835 1,015,320
840,276
853.461
822,517
Production
do...
984, 456
Stocks, end of month
d o . . . 1,357,931 1,407,694 1,387,127 1,234,569
258,
58,
161,
54.50
114,025
300.
114.
155,
9,
97.
86.
5, om
0
829,083
810,775
960, 752 1,161,919 1, 264, e
52. 25
105. 678
820, 111
1, 268, 682 1, 259, 932
NAVAL STORES
Rosin (gum and wood):
Production, quarterly total
drums (520 lb.)
Stocks, end of quarter
do
Price, gum, wholesale, " W G " grade (Sav.), bulk*
dol. per 100 lb._
Turpentine (gum and wood) :
Production, quarterly total
bbl. (50 gal.)_.
Stocks, end of quarter
do
Price, gum, wholesale (Savannah)..dol. per gal..
7.82
7.87
.39
163,400
262. 670
.37
.37
574, 840
840. 920
521,050
719,140
362, 650
618.230
539, 310
670, 550
114,860
229, 690
.41
6.41
6.42
.39
181.810
218, 490
.37
1,269
57, 992
1,081
50, 982
6.53
6.70
.38
194.110
225. 070
.39
.39
1,068
45, 443
1,509
53,158
1,606
48, 548
1, 595 ;
40, 130
388,811
397, 024
6.49
6. 60
MISCELLANEOUS
Explosives (industrial), shipments:
1,730
2.405
2,953
2,581
Black blasting powder
thous. of lb.
44, 985
47, 704
53,175
43, 832
High explosives
do...
Sulfur:
351.086
438, 527
416,678
412, 680
Production
long tons.
Stocks
.. .do... 3, 226,170 3,225,014 3, 274, 313 3, 234, 481
r
1
Revised.
Not available for publication.
tRevised series. Beginning with this issue of the SURVEY, data for fertilizer consumption
to November 1948 will shown later.
*New series. The series for rosin " W G " (window glass) grade, which is compiled by the
and Drug Reporter, has been substituted for the " H " grade formerly shown. Data beginning
1,287
43, 362
1,333
53, 208
399,025
417, 526
396, 447
3. 202, 481 3,181,199 3,168,051 3,168,312
3,142,845 3,150,752
]
389. 682 392,805
3,139 785 3.097.331 3,115.805
in 14 States have been substituted for the 13-States series formerly shown; revised figures prior
U. S. Department of Labor beginning November 1948, and prior to that month by the OH, Paint,
1935 will be shown later.
SURVEY OF CURRENT BUSINESS
January 1950
Unless otherwise stated, statistics through
1948 and descriptive notes are shown in the
1949 Statistical Supplement to the Survey
1948
November
December
S-25
1949
January
February
March
April
May
June
July
August
September
October
November
CHEMICALS AND ALLIED PRODUCTS—Continued
FATS, OILS, OILSEEDS, AND
BYPRODUCTS
Animal fats, greases, and oils:
Animal fats:
366,883 i 361, 417 i 303,420 i 306,947 i 270, 742 i 272,192 1 275,069 1 254,842 1264,394 1 248,888 1 288,318 l 474,420
Production
_
.-.thous. of lb_. 298,192
119,816
117,992
i 97, 264
i 94,838 i 111, 062
Consumption, factory
do
i 94,188 i 109, 734 i 105, 502
1 61,981 1 120,143 1 119, 516 1 117,519 1106,627
310,920
402,332 i 464,820 i 485, 516 i 446,760 i 408, 634 i 368,929 i 319, 521 1322,974 1 292,421 1 265, 758 1 240, 962 1 251,195
Stocks, end of month
do
Greases:
50,619
53,144
i 52,050
i 50, 232
Production
_ do_
i 51,138
i 46, 852
i 49,170
i 50, 505
1 46, 753 1 44, 706
1 54,861
1 45,702
1 48,110
1
47,116
49,474
i 55, 887
i 45,023
i 48, 539
i 43, 564
i 41,590
M l , 895
Consumption, factory
_do.
i 38, 425
46, 031
1 42,911
1 32,951
1 42,016
112, 915
104,308 i 111,489 i 107, 603 i 109,933 i 110, 882 i 113,706 1124, 927 1129,265 1124,518 1 117,852 1116,477 1112,412
Stocks, end of month
do.
Fish oils:
6,529
5,649
2,064
741
879
1,063
4,717
13,599
18,362
21, 962
Production
_
do.
12,735
24, 908
17,979
16, 227
14,102
10, 733
13,395
9,653
15,364
Consumption, factory
do.
10, 753
12,377
12, 823
17, 667
20, 865
11,126
115, 792
134, 465
108,537
104,404
88,713
Stocks, end of month..
__do.
80,946
92, 245 r 102, 849
78,176
78,442
79,062
94,776
69,511
Vegetable oils, oilseeds, and byproducts:
Vegetable oils, total:
2 449
529
532
2 506
2 469
2 381
2 374
2 464
2 361
Production, crude.
mil. of lb_.
2 600
2 379
2 338
••2 601
2
449
2 434
2 414
453
2 405
2 450
Consumption, crude, factory
do
2 417
380
2 497
2 368
2 307
2 384
r 2 480
Stocks, end of month:
2 769
692
614
2 808
2 812
2 736
2 735
2 718
Crude
do...
2 739
2 776
2 963
2 732
2 856
2 395
279
211
2 423
2 448
2 462
2 376
Refined
do...
2 319
2 188
2 291
2 171
2266
2 231
16,397
19,767
9,682
29, 596
47, 741
97, 268
115,017
60,173
31,001
29, 982
73,123
36, 630
Exports f
.thous. of lb
31, 834
61, 350
8,827
31,329
30, 545
23,126
24, 378
13, 955
31,096
38, 516
32, 589
28, 785
Imports, total
do...
11, 335
2,802
16, 855
11,492
5,739
1,609
7,946
2,168
4,505
4,925
2,811
Paint oils.
do__.
10, 616
6,025
22,500
44,495
22, 769
19,053
17,387
23,382
11, 788
26,592
33, 591
All other vegetable oils
_
do
29, 778
18,169
Copra:
29,959
27,377
33, 343
17, 624
25,148
19, 754
34, 932
Consumption, factory
short tons..
30, 203
36,773
43,723
26,914
38, 306
46, 206
26,359
20, 574
5,265
19, 559
16,618
14,337
Stocks, end of month
...do.
15, 536
15,034
10,010
8,333
12,769
21,998
18, 710
58,361
21,824
20,676
20,638
22, 677
26,006
32,655
40, 940
51, 251
Imports
do.
38,594
27,909
60,027
Coconut or copra oil:
Production:
35,185
42,657
23,014
38,454
32, 682
25, 762
47, 231
38,933
Crude
thous. of lb__
44,961
34,368
48, 892
55.482
58, 979
19,488
21, 203
21,453
20, 545
21, 522
Refined
do.
28,162
24,473
25, 022
29,168
30, 374
23,139
29,169
25.36a
Consumption, factory:
47, 369
43,620
43,827
38, 592
42,566
42, 585
46,903
44, 905
53, 219
36,014
54, 538
Crude
...do.
48,532.
55, 248
21, 288
21,842
19,962
17, 838
22, 533
25, 224
22, 827
24,483
Refined
...do.
19,689
28,147
26, 248
25, 914
23,287
Stocks, end of month:
73, 280
63,978
44,208
52,180
64, 224
47, 880
56,132
101, 042
83,124
Crude
..do.
71, 318
82,365
112, 977
134,570
8,807
8,976
10,059
11,423
7,893
9,063
8,805
8,477
6,723
7,945
8,676
Refined
do.
8,728
8,283
14,475
24,930
10, 049
6,950
7,796
7,852
8,442
14, 485
2,330
14, 512
17,020
Imports
do.
8,442
Cottonseed:
975
602
212
115
94
19
15
353
1,248
30
117
1,322
Receipts at mills
thous. of short tons..
1,382
614
670
520
473
711
262
325
197
147
586
Consumption (crush)
do.
207
748
785
1,665
2,067
1,260
881
2,129
343
132
586
162
941
Stocks at mills, end of month
do.
1,575
2,112
278
Cottonseed cake and meal:
231,639
209,422
272,678
143,338
117,678
85,660
94,081
253, 763
66,340
Production
short tons.. 322, 572 300,891
355,146
334,030
81,515
100,297
92,253
95, 907
78,427
104, 700
95, 806
88,354
52, 759
Stocks at mills, end of month
do
65,949
98, 076
116, 912
123,518
Cottonseed oil, crude:
211, 964
195,053
167,157
153,918
107,085
87, 873
65, 569
64,805
Production...
thous. of lb___ 227,956
48,656
184, 291
242, 687
252,640
184, 758
198, 729
141,085
157, 722
188,390
168, 447
Stocks, end of month
do...
118, 896
76, 240
52, 233
40,908
88, 766
123, 462
162,355
Cottonseed oil, refined:
141,105
156, 949
150,595
177,824
182,062
119, 975
115,419
97, 996
61,255
71,976
Production
do
113, 309
178, 666
188,938
122,995
117,056
130,378
133,361
122,772
124, 750
125, 584
138, 639
110, 959
142, 409
Consumption, factory
do...
115, 282
144,799
129, 424
38, 569
38, 635
44,065
40,819
40, 976
32,771
30, 560
32, 728
28, 882
37, 530
32,076
In oleomargarine
do__.
35, 728
168,081
220, 937
202,869
242, 512
120,774
236,197
227, 587
186, 268
132, 766
Stocks, end of month
do.__
72, 590
69, 708
125,176
"I74,"98l"
Price, wholesale, summer, yellow, prime (N. Y.)
.174
.155
.199
dol. per lb._
.221
.143
.134
.125
.136
.122
.140
.129
.118
.158
Flaxseed:
3 54, 529
Production (crop estimate)
thous. of bu._
4 43,664
Oil mills:
2,241
2,981
3,178
2,660
3,006
3,505
2,393
3,528
3,177
Consumption
do.
3,254
3,886
3,985
3,468
2,104
7,076
7,744
6,775
5,313
2,227
3,142
1,513
Stocks, end of month
do.
1,960
4,932
8,139
7,553
6,982
13
5
12
58
20
46
0
0
0
0
Imports
do.
10
7
6.00
6.00
3.91
6.01
6.00
6.00
6.00
3.86
3.94
3.85
Price, wholesale, No. 1 (Minn.)
dol. per bu__
(5)
(5)
Linseed oil:
6 52, 794 6 58, 542 8 60, 949 6 43, 510 8 45, 497 8 70, 927 6 69,949
58,111
62,645
6 77, 071 6 72. 923 6 67, 803 6 62,856
Production
thous. of lb.
6 26, 208 6 27, 663 6 31, 966 6 25, 432 8 23, 734 6 26,402
31,331
8 35,262
31, 707
6 42, 723 6 49, 884 6 44, 411 6 36, 376
Consumption, factory
___do
226,403 8 209, 559 6 239,449 6 270,035 6 310,827 8 321, 765 6 363,431 6378,788 6 407, 230 6 421,115 6 433, 921 6 462,934
210,894
Stocks at factory, end of month
do
.290
.288
.288
2.92
.288
.288
.288
.276
.216
.208
.250
Price, wholesale (N. Y)
dol. per l b . .
.192
.186
Soybeans:
3 223,006
* 222,305
Production (crop estimate)
_ .thous. of bu__
16, 830
15, 520
16,154
16,677
17,032
15,937
15, 459
15,264
15,302
13,551
11,996
17, 522
17,139
Consumption, factory
do...
44,415
55, 564
49, 721
36, 305
58,392
29,029
22, 992
18, 333
6,549
12,477
10, 606
70,914
Stocks, end of month
_ do...
' 63, 581
Soybean oil:
Production:
162,648
151,137
167,689
154, 757
156,088
160,081
154,183
136, 015
150, 583
155,148
120, 756 •• 172, 491
Crude..
thous. of lb.
165, 473
116, 910
124,100
125,950
137,081
127, 425
110,908
118,045
135,106
124, 209
110,190
127, 703
125, 902
Refined
do...
133,442
99,891
103, 591
130,314
130, 934
97,934
123,969
141,462
120, 798
97,345
136,199
119, 778
Consumption, factory, refined—
do__.
129,801
Stocks, end of month:
134, 229
132,959
77, 432
101,100
140,245
105,365
88,631
82, 793
71,925
90,881
Crude
do...
56, 223
67, 314
69,405
109,463
123, 562
69, 216
86, 576
119, 744
112, 523
102,045
93,929
92,807
Refined
do
76,384
56, 790
55, 410
57,976
.209
.154
.250
.237
.173
.158
.141
.154
.142
Price, wholesale, edible (N. Y.)
dol. per lb._
.145
.175
.157
.142
r
Revised.
* Beginning January 1949, data include for animal fats, 45 plants and for greases, 23 plants not previously reporting; operations at these plants in January (thous. of lbs.): Animal
fats—production, 3,290; stocks, 3,804; greases—production, 953; stocks, 1,949.
2 Beginning January 1949, data on original reports show further details on certain refined oils which are believed
to have been included formerly in the crude oil figures. January 1949figuresfor the items excluded beginning in that month (thous. of lbs.): Sesame—consumption, 29; stocks, 142; rapeseed—
consumption,
550;
stocks,
2,763;
linseed
oil—production,
8,900;
consumption,
15,062:
stocks, 45, 560; other vegetable oils—production, 955; consumption, 1,503; stocks, 1,604.
3
5
Revised estimate.
* December 1 estimate.
No sales.
6 See note " 2 " for this page.
f Revised series. Beginning in the September 1949 SURVEY, data include oleomargarine of vegetable or animal origin.
SURVEY OF CURRENT BUSINESS
S-26
Unless otherwise stated, statistics through
1948 and descriptive notes are shown in the
1949 Statistical Supplement to the Survey
1948
November
January 1950
1949
December
January
February
March
April
May
June
July
August
Septem
ber
October
November
CHEMICALS AND ALLIED PRODUCTS—Continued
FATS, OILS, ETC.—Continued
Vegetable oils, oilseeds, etc.—Continued
Oleomargarine:
Production
thous. of lb
Consumption (tax-paid withdrawals)
do ___
Price, wholesale, vegetable, delivered (Chicago)
dol. per lb_.
Shortenings and compounds:
Production _
thous. of lb
Stocks, end of month
do
72,377
72,997
74,308
69, 918
81, 652
80, 336
76,045
75, 305
80,185
78,964
65, 754
64, 719
59, 613
60, 415
63, 590
61,978
56,118
55, 366
79,106
79, 346
75, 471
73, 938
74, 408
71,172
.315
.303
.283
.269
.256
.229
.224
.224
.224
.248
.249
.224
.224
134,629
52, 508
129,341
66,390
114,917
73, 773
112,150
70,850
125, 607
72, 800
119, 576
80, 436
125,908
84, 851
122, 213
85, 821
83,355
64,438
156, 696
52, 851
133, 849
59,315
123,178
62,860
139,965
61,889
71, 778
65,116
29, 864
35, 252
6,662
65,824
59,386
28, 797
30, 589
6,438
76, 961
69, 853
27, 950
41,903
7,108
70,190
63, 968
26,124
37,844
6,222
84,124
75,938
30,178
45, 760
8,186
86, 236
77,852
28,473
49,379
8,384
89,083
79,913
27, 582
52,331
9,170
88,465
79, 546
28, 755
50,791
8,919
74,215
67, 613
25, 775
41,839
6,601
87, 911
79,375
30, 821
48, 554
8,537
84, 376
75,453
30, 227
45, 225
8,923
1,690
4,495
806
873
23,101
14,398
1,745
3,951
752
1,034
21 588
13,' 209
1,826
4,077
810
784
21, 428
12,830
10,868
22, 467
16, 918
7,279
18, 115
1,521
4,322
691
890
20,195
14, 920
10, 641
19, 065
15, 242
7,098
17,095
1,563
4,548
728
1,010
20, 585
17, 257
9,248
22, 219
16,038
7,848
16,084
1,329
4,610
750
1,022
18, 260
17, 548
8,500
23, 613
16,069
8,182
14, 547
1,650
3,449
754
709
14,828
16,331
8,049
20,407
17, 853
7,516
14,162
1,242
4,303
626
176
14,952
15,029
7,931
20, 636
19, 149
7,584
14,825
1,332
3,431
372
433
11,232
15, 905
6,273
18,853
17, 304
6 631
14,877
1,405
4,626
517
113
17, 834
19, 749
9,569
23, 663
19, 258
8 103
16.646
1,530
5,798
431
712
r
22, 569
20, 723
10, 299
' 29,098
' r 21,114
9 912
19, 399
2,138
6,904
453
749
25, 056
22,156
13, 239
31, 786
20,775
10 722
18, 896
PAINT SALES
Paint, varnish, lacquer, and filler, total
thous.
Classified, total
Industrial
Trade
Unclassified. _
of dol..
do
do _
do
do ___
SYNTHETIC PLASTICS AND RESIN
MATERIALS
Production:*
Cellulose acetate and mixed ester plastics:
Sheets, rods, and tubes
thous. of lb
do
Molding and extrusion materials
Nitrocellulose, sheets, rods, and tubes
do
Other cellulose plastics. _
do
Phenolic and other tar acid resins
do
Polystyrene
do
Urea and melamine resins
do
Vinyl resins
do
Alkyd resins
do
Rosin modifications
do
Miscellaneous resins
do
(0
0)
21, 235
20,110
2 9, 675
210, 247
r
r
76,219
69.016
' 28, 683
' 40,334
7,203
67, 227
60, 820
25,258
35, 562
6, 407
ELECTRIC POWER AND GAS
ELECTRIC POWER
Production (utility and industrial), total
mil. of kw.-hr._
Electrio utilities, total
_
do _
By fuels
do
do __
By water power._
_
Privately and municipally owned utilities
mil. of kw.-hr..
Other producers _
do
do
Industrial establishments, total
By fuels
do
By water power . . .
do
Sales to ultimate customers, total (Edison Electric
Institute)
mil. ofkw.-hr
Commercial and industrial:
Small light and power...
.do
Large light and power
do
Railways and railroads
do
Residential or domestic
do
Rural (distinct rural rates) _ _ _
do
Street and highway 'ighting. .__ ___ _ _ do
Other public authorities _
do
Interdepartmental
Revenue from sales to ultimate customers (Edison
Electric Institute)
thous. of dol
28, 768
24,180
17, 587
6,594
30, 478
25, 716
18, 250
7,467
30,374
25, 570
17,803
7,767
27, 463
22, 996
15, 701
7,295
29, 514
24, 721
16,585
8,136
27, 745
23, 215
15,057
8,158
27,875
23,348
15, 290
8,058
28,025
23,617
16, 393
7,224
27,946
23. 684
16, 355
7,330
29,492
25,021
17, 672
7,349
28,358
23, 922
16, 946
6,976
28,110
24, 288
17, 353
6,936
28, 539
24.328
17,467
6, 861
20,811
3,369
4,587
4,254
333
21,985
3,731
4,762
4,340
422
21,838
3,733
4,804
4,355
449
19,506
3,490
4,467
4,027
440
21,028
3,694
4,793
4,327
466
19, 749
3,466
4,530
4,053
478
19, 785
3,563
4,526
4,048
479
20,034
3,583
4,407
4,012
395
19, 973
3,711
4,262
3,881
381
20. 965
4,055
4,471
4,067
404
19, 934
3,987
4.436
4,055
382
20, 430
3,858
3,822
3,465
357
20. 781
3,548
4,211
3.837
20,678
21,465
21,831
21,143
20,882
20, 420
19,914
19,904
19, 960
20, 769
20,895
20, 293
3,651
10,673
532
4 495
487
2.rl
540
48
3,823
10,720
613
4,959
472
270
557
52
390,128
3,834
10, 647
595
5,424
459
266
560
46
3,835
10, 220
532
5,269
456
233
550
48
3,709
10, 304
580
5,006
465
229
53^
52
3,685
10,141
525
4,763
531
205
522
48
3,611
9,967
499
4,464
627
190
510
46
3, 759
9,888
473
4, 375
664
178
522
46
3,975
9, 533
462
4.419
825
184
516
46
4,033
10,130
470
4,422
873
202
592
46
4,046
10 158
452
4 618
809
224
541
46
3,876
9,693
470
4,749
626
251
581
46
398, 487
389, 527
382,150
374, 713
368,578
371, 446
375, 419
382,161
387, 529
383, 250
375,038
GAS
Manufactured and mixed gas (quarterly):
Customers, end of quarter, totaL__ _ .thousands..
Residential (incl house-heating)
<^n
Industrial and commercial
do
Sales to consumers, total
mil of cu ft
Residential
do
Industrial and commercialdo
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 rn ft.
Residential (incl. house-heating)
do
Industrial and commercial
do
Revenue from sales to consumers, total
thous
of
dol
Residential (incl house-heatin<r)
do
Industrial and commercial
do
10, 537
9 844
686
143,721
94, 456
47,938
10,590
9 885
697
186,071
128, 942
55, 576
10, 541
9 842
691
139 231
90, 229
47, 875
10, 262
9 582
672
101 730
60, 288
40, 077
143,338
105, 368
37, 089
176, 698
131, 379
44, 272
141, 513
107,058
36, 725
113, 390
82, 663
29, 641
11 773
10, 894
869
749,156
216, 009
501, 618
11 971
10, 961
1.000
924, 244
390,136
511,640
12 328
11 293
1,026
715 '?82
192, 659
501 154
12 663
11 649
1,004
615 338
91,452
492 683
259, 309
136 6^2
117,423
358 296
224 031
130,165
246
490
197 776
115,064
183 487
74 471
98 181
374
SURVEY OF CURRENT BUSINESS
January 1950
Unless otherwise stated, statistics t h r o u g h
1948 a n d descriptive notes are shown in t h e
1949 Statistical S u p p l e m e n t t o t h e Survey
S-27
1948
November
1949
December
January
February
March
April
June
May
July
September
October
November
9,182
8,901
10,033
7,392
7,285
9,836
6,122
6,438
9,252
5,774
6,095
August
FOODSTUFFS AND TOBACCO
ALCOHOLIC BEVERAGES
Fermented malt liquors:
6,174
Production
thous. of bbl..
6,667
Tax-paid withdrawals
do
Stocks, end of month
do
8,278
Distilled spirits:
Production
thous. of tax gal_. ' 37,253
Consumption, apparent, for beverage purposes
18, 516
thous. of wine gal_.
12,154
Tax-paid withdrawals
thous. of tax gal__
621, 677
Stocks, end of month
do
1,524
Imports
-thous. of proof gal__
Whisky:
14, 036
Production
_thous. of tax gal__
6,602
Tax-paid withdrawals
do
547, 534
Stocks, end of month
do
1,388
Imports
thous. of proof gal..
Rectified spirits and wines, production, total
14, 456
thous. of proof gal__
13,378
Whisky
do
Wines and distilling materials:
Sparkling wines:
81
Production
thous. of wine gal__
Tax-paid withdrawals._
do
162
Stocks, end of month...
do
1,640
Imports
-do
45
Still wines:
48, 210
Production
.-do
12, 307
Tax-paid withdrawals..
do
233,170
Stocks, end of month
<
do
250
Imports
do
97,666
Distilling materials produced at wineries...do
6,807
6,568
8,212
6,050
5,596
8,410
5,721
5,475
7,761
7,084
8,708
7,314
6,507
9,248
8,331
7,567
9,646
9,258
8,629
9,879
29, 391
21, 863
19, 631
20, 232
16, 922
16,823
13,732
8,818
11, 581
16, 704
26,093
19,770
20,175
7,379
635, 688
1,507
11, 690
6,549
646, 272
941
12, 741
7,264
654, 589
874
14,038
9.334
661, 728
1,109
12,919
r
7, 755
668, 421
974
13,300
7,826
674,661
1,097
13,078
7,632
677, 344
1,111
12,323
8,067
676, 337
878
12,336
8,072
675, 217
14,121
9,471
673, 701
1,329
15, 213
11, 438
671, 309
1, 529
12.070
669,884
17,572
3,965
559, 823
1,329
14, 878
3,970
569, 734
14,148
4,229
578, 342
783
14, 462
4,720
586, 592
994
11, 536
3,884
593, 094
752
10,971
3,732
599, 561
1,017
7,852
3,537
602,926
1,027
5,099
4,048
602, 865
5,959
4,383
603, 231
914
8,703
5, 311
604, 768
1,226
9,246
6,101
606, 210
1,413
9,705
6,965
606,015
9,758
7,421
6,627
8,474
7,739
10,202
9,207
8,306
7,345
8,931
7,908
9,069
7,889
6,864
9,043
7,681
10, 228
9,250
12,400
11,247
12,601
11,473
71
168
1,525
97
100
68
1,545
23
60
57
1,530
25
74
65
1,515
21
188
53
1,647
32
62
1,673
26
163
77
1,743
54
49
1,742
13
128
62
1,808
14
1,734
35
43
5,413
11,194
223,774
294
13, 476
887
9,856
213, 595
212
1,060
833
9,696
203,618
217
491
821
11, 709
191, 799
253
1,802
640
9,585
182,156
238
'405
584
8,815
162, 586
177
513
435
7,763
155,034
148
713
'1,335
8.788
145, 702
145
4,900
19,085
11,303
154, 365
188
37, 979
84,888
33,615
.645
' 92,980
18, 737
* 92,780
8,718
.633
71,613
52,142
148,100
126, 534
2,272
' 78, 760
r 58, 325
135,110
116, 779
1,423
173,518
221
9,382
8,722
10,147
r
286
DAIRY PRODUCTS
Butter, creamery:
80,306
Production (factory) t
thous. of l b - .
60,214
Stocks, cold storage, end of month
do
.629
Price, wholesale, 92-score (New York)_dol. p e r l b . .
Cheese:
67, 072
Production (factory), total {__
thous. of lb._
American, whole milk J
do
48,833
Stocks, cold storage, end of month, total. _ .do. . 164,410
American, whole milk
do
140, 791
Imports..
do
3,090
Price, wholesale, American, single daisies (Chicago)
dol. per lb..397
Condensed and evaporated milk:
Production: %
Condensed (sweetened):
11,085
Bulk goods..
thous. of lb_.
Case goods
do
7,847
E vaporated (unsweetened), case goods do
151,414
Stocks, manufacturers', case goods, end of month:
Condensed (sweetened)
thous. of lb__
14,824
E vaporated (unsweetened)
do. 542,810
Exports:
Condensed (sweetened)
do
4,367
Evaporated (unsweetened)
.do
15,836
Prices, wholesale, U. S. average:
Condensed (sweetened) _ _
dol. per case..
9.60
Evaporated (unsweetened)
do
5.94
Fluid milk:
Production
_
mil. of lb..
8,031
Utilization in mfd. dairy products
do
2,724
Price, dealers', standard grade
dol. per 100 lb.5.27
Dry milk:
Production: \
7,962
Dry whole milk
thous. of lb_.
Nonfat dry milk solids (human food)
do
37,173
Stocks, manufacturers', end of month:
Dry whole milk
do
25, 967
Nonfat dry milk solids (human food)
do
' 51,057
Exports:
Dry whole milk
do
6,217
Nonfat dry milk solids (human food)
do
23,901
Price wholesale, nonfat dry milk solids (human
food), U. S. average
dol. perlb..
.159
1
112, 525 • 124,615 160,625
6,318
51,056
15,338
.597
.616
.599
1
157,325
102,701
.590
' 78,570 r 94, 375 • 111,165 143, 283 • 137,125
58,030 ' 70, 945 ' 86,845 116, 365 112, 545
134, 765 162,256
126, 503 120, 563 125,903
111, 073 105, 608 109,920 117, 021 140,859
1, 533
2,035
2,402
2,393
2,794
r
' 136,390 r 128,440 'r 113,770 • 102,800
136, 786 153,855
154, 455 '144,819
.599
.618
.622
118, 735
' 96, 760
185, 517
162,346
2,206
r
108,410
' 87,370
210,411
183,208
1,804
' 94,150
' 74,135
213, 433
188, 259
2,442
90,740
129,206
.625
72,100
51,600
195,862
175,821
' 82,155
*• 62, 355
>• 209, 515
«" 185,839
1,003
.410
.371
.348
.336
.337
.341
.343
.330
.352
.358
.356
.356
11,767
9,932
143,359
14,470
10,800
155,350
12,965
10, 250
160,300
15,145
14,100
215, 750
22,910
12, 250
266, 250
39,450
12,350
361,150
34,275
10, 550
350,650
22,490
8,650
306, 750
26,130
8,800
273,650
22,320
5,750
212,750
16,300
4,675
167, 750
11,550
3,200
134,000
12,576
424,619
9,504
297,463
7,759
206,464
8,350
177,077
9,511
189, 735
11,390
298, 661
13, 059
379,000
11, 778
454,397
8,559
477,812
6,758
484, 246
6,925
5,795
333, 264
8,713
49,058
11, 442
31,152
7,322
31,795
9,901
20,971
7,657
24,517
8,903
24,391
6,205
22,967
4,500
11,209
5,692
12, 368
1,984
18,903
9.60
5.95
9.60
5.81
9.48
5.66
11, 021
21, 688
9.10
5.45
9.10
5.18
9.10
5.05
9.10
5.09
9.10
5.12
9.10
5.11
9.10
5.08
9.10
5.08
9.10
5.09
8,215
2,866
5.25
8,671
3,143
5.16
8,276
3,113
5.04
9,558
3,833
4.89
10,226
4,394
4.67
11,888
5,640
4.58
12,303
5,482
4.56
11, 544
4,828
4.61
10,546
4,475
4.66
9,390
3,862
4.71
9,004
3, 395
4.74
8,392
2,951
4.75
9,153
50,180
10,850
55, 500
8,540
59, 500
11,150
80,000
12, 275
98,350
13,715
122, 400
12, 225
112,200
10,890
76,750
10, 725
63,050
9,150
54,150
7,410
49,000
18,491
44, 738
16,098
49, 627
14, 928
63, 320
15, 479
71, 784
14,198
76,114
16, 096
95, 387
17, 377
104, 868
12,620
88, 360
19, 059
98,020
17, 808
96, 994
18, 291
80,060
16, 639
57,037
14,180
47,100
11,439
19, 704
11,431
26, 496
8,229
5,620
26, 248
10, 014
16, 226
5,873
14,042
5,499
2,857
7,336
20,579
5, 449
44,267
5,909
28,897
.151
.131
.115
4,616
8,288
.115
.117
.118
.116
.117
.118
.121
.123
.122
3,229
9,028
10,319
3,161
5,491
11,571
2,065
3,318
10, 210
1,776
1,294
10, 051
764
343
549
175
507
412
2,564
14, 777
4,790
' 6,419
35, 224
5, 521
2133,181
4,707
33, 701
7, 607
301, 249
266, 581
237, 419
237, 856
r
r
F R U I T S AND VEGETABLES
Apples:
Production (crop estimate)
thous. of bu.
i 88,407
Shipments, carlot
no. of carloads._
4,791
3,505
3,297
Stocks, cold storage, end of month..thous. of bu__
17, 813
21,836
12, 971
Citrus fruits, carlot shipments
no. of carloads..
15,334
9,580
12, 633
Frozen fruits, stocks, cold storage, end of month
thous. of lb__ 346, 941 335, 940 317,695
Frozen vegetables, stocks, cold storage, end of
month
thous. of lb_. 308, 829 281, 825 262, 047
Potatoes, white:
Production (crop estimate)
thous. of bu__
i 454, 654
Shipments, carlot
no. of carloads..
24, 026
21, 394
26, 437
Price, wholesale, U. S. No. 1 (New York)
dol. per 100 lbs.
3. 302
4.628
3.699
T
2
Eevised.
* Revised estimate.
December 1 estimate.
% Revisions prior
9,002
7,902
6,390
255, 787
327,090
339, 588
219, 515
24, 226
237, 847
12,045
4.568
4.474
4. G23
5.258
3. 546
to October 1948 are available upon request.
3.287
229, 506
206, 061
191, 666
186,821
25, 415
35, 867
2t>, 059
22, 999
r
r
355, 552
' 342, 565
323, G13
368, 552
" 387, 681
383,448
315,788
14,641
19, 864
* 18, 602
401,962
17,323
3.498
3.236
2.873
3.601
2
SURVEY OF CURRENT BUSINESS
S-28
Unless otherwise stated, statistics through
1948 and descriptive notes are shown in the
1949 Statistical Supplement to the Survey
1948
November
January 1950
1949
December
January
February
March
April
May
June
July
August
September
October
November
FOODSTUFFS AND TOBACCO—Continued
GRAINS AND GRAIN PRODUCTS
Exports, principal grains, including flour and meal
thous. of bu__
Barley:
"Production fcroo estimated
do
Receipts, principal markets
_do
Stocks, domestic, end of month:
Commercial
__do
On farms
do
Exports, including malt
do
Prices, wholesale (Minneapolis):
No. 2, malting
_dol. per bu_.
No. 3, straight
do
41,906
54,234
58,612
60,184
65,849
45, 380
57, 458
47, 295
46,059
59,045
46,153
37, 882
10,616
i 315,894
11,300
8,323
5,254
8,991
5,860
11,906
19,312
24,843
24, 940
14,954
11,003
238,104
9,015
34,109
16, 457
156,600
1,162
15, 214
12, 426
10,057
33,056
1,390
1,636
4,199
6,410
33, 976
146, 268
3,382
35, 942
2,653
14, 922
59,311
2,111
24,659
2,614
11,197
111, 511
2,864
9,491
1,570
1.554
1.447
1.480
1.346
1.474
1.375
1.344
1.242
1.312
1.200
1.256
1.178
1.249
1.184
1.253
1.163
1,290
1.236
1.327
1.299
1.523
1.455
1.556
1.502
i 3,682
9,927
45, 269
9,958
38, 281
9,357
20,139
9,902
23,694
8,813
19, 646
8,632
21,198
8,910
21,977
8,658
19,683
10, 637
22,064
10, 501
23,967
11, 206
43,947
3,378
10,047
58,975
50,328
2, 519.6
11,040
50, 639
43,903
11, 582
5,711
46,400
8,209
8,926
8,369
9,614
699.2
7,116
20, 020
11, 251
10,888
1, 239. 4
4,611
4,744
13,081
25,895
1, 776. 2
21, 267
15,266
11,355
1.443
1.424
1.329
1.464
1.428
1.303
(3)
1.271
1.160
1.427
1.337
1.224
1.403
1.370
1.322
1.410
1.358
1.279
(3)
1.353
1.276
1.451
1.402
1.327
1.340
1.307
1.256
1.262
1.312
1.238
1.390
1.152
1.134
i 1,493
9,335
9,321
5,311
8,915
10,175
9,874
13,988
33,804
24, 804
9,338
5,953
1,323
5,460
21,218
18, 741
Corn:
Production (crop estimate)
mil. of bu_.
117197"
Grindings wet process
thous. of bu
Receipts, principal markets
do _ _ 63,005
Stocks, domestic, end of month:
39,002
Commercial
do
On farms
mil of bu
6,890
Exports, including meal
thous. of bu__
Prices, wholesale:
1.449
No. 3, white (Chicago)
dol. per bu._
1.381
No. 3, yellow (Chicago) _
_do__
1.272
Weighted average, 5 markets, all grades. _do
Oats:
Production (crop estimate)
mil of bu
8,861
Receipts, principal markets..
-thous. of bu._
Stocks, domestic, end of month:
10,424
Commercial
_
_.do
On farms
do
2,530
Exports including oatmeal
-- ..do
Price, wholesale, No. 3, white (Chicago)
.878
dol. per bu._
Rice:
Production (crop estimate)
thous of bu
California:
89,946
Receipts, domestic, rough...
thous. of lb__
28,920
Shipments from mills, milled rice
do
Stocks, rough and cleaned (cleaned basis), end
63,368
of month
thous. of lb-.
Southern States (Ark., La., Tenn., Tex.):
2,602
Receipts, rough, at mills.thous. of bbl. (162 lb.)_
Shipments from mills, milled rice, thous. of l b . . 229,040
Stocks, domestic, rough and cleaned (cleaned
basis), end of month
thous. of lb. _ 574,806
117,935
JExportsf
- --do
202
Imports
.
do._ _
.091
Price, wholesale, head, clean (N. O.)--dol. per lb._
Rye:
Production fcroD estimated
thous of bu
Receipts principal markets
do
Stocks, commercial, domestic, end of month.do
Price, wholesale, No. 2 (Minn.)
dol. per bu_.
Wheat:
Production (crop estimate), total
mil. of bu.
SDrinc wheat
do
Winter wheat
do
Receipts, principal markets
thous. of bu._
Disappearance, domestic
do
Stocks, end of month:
Canada (Canadian wheat) .
. . -do. _.
United States domestic totalcf
do
Commercial
do
Interior mills, elevators, and warehouses
thous of bu
Merchant mills
do
On farms
do
Exports, total, including
flour
do
Wheat only - __do_ _
Prices, wholesale:
No. 1, dark northern spring (Minneapolis)
dol. per bu__
No. 2, hard winter (Kansas City)
do
No. 2, red winter (St. Louis)
do
Weighted avg., 6 markets, all grades
do
2
1,714
5,376
1.731
28, 534
169, 448
1,888
1.560
1.451
2
7, 513
1.308
1.157
1.142
2
11,433
927,488
2,936
9,544
5,916
1,662
30,095
503
562
6,719
27,462
1,049,342
1,765
25, 254
1,869
6,167
270,264
3,182
17,745
2,539
4,215
577,945
1,392
3,635
2,988
.866
.819
.741
.753
.741
.701
.673
.638
.637
678
.687
1,045
.759
i 85,056
2 89,141
40,833
42, 987
53,677
21,904
27,300
18,049
37,216
19,003
55,691
61, 988
48, 913
30,421
45, 785
26, 728
46,994
31,908
68, 741
64, 909
48,951
26,998
236,472
48,435
39,427
22, 610
45, 769
56, 962
56, 651
59,154
38,289
37, 944
39,358
35, 752
13, 806
16, 508
114, 029
115, 691
1,485
219,803
544
149,711
684
130,522
841
141,767
665
120,202
412
134,241
377
132, 777
183
78,233
781
81, 631
4,315
194,961
4,188
265, 382
3, 703
226,358
519,213
146, 866
534
.103
434,167
92,254
215
.098
379, 906
69, 715
103
.093
332,121
51,418
439
.093
286, 353
117, 042
458
.092
202,235
106, 781
809
.091
113,173
60, 952
772
.089
57,291
88, 768
909
.087
65, 554
39, 932
605
.084
316, 540
63,013
423
(3)
489,341
136, 669
310
(3)
650, 284
i 26, 449
1,858
4,838
1.676
'735
3,980
1.632
245
2,971
1.364
431
2,075
1.352
3,348
3,618
1.361
727
2,732
1.362
748
2,993
1.346
1~, 772
4,091
1.454
3,131
6,170
1.384
1,043
5,435
1.428
' 2,195
5, 401
1.465
11, 313. 5
i 305. 7
i 1, 007. 9
30,397
290, 546
(3)
2
2
17, 923
14,067
36, 604
' 280, 287
155,367
142, 276
150,165
125, 504
130, 737
578,863
124, 656
181, 917
166,144
859,077
166, 348
30,916
19, 756
203, 984
103,377
381, 667
39,094
25, 917
40, 572
29,123
41,389
30, 771
148, 287
63, 229
239, 315
39,095
32,358
2.473
2.282
2.359
2.367
2.397
2.287
2.444
2.308
2.351
2.250
2.294
2.286
2.337
2.196
2.287
2.246
2.348
2.241
2.329
2.278
27, 560
49,082
64,749
274, 325
118, 551
89, 097
116, 806
114, 242
70,146
305, 773
128,158
29, 812
23,020
46, 555
40, 617
75,859
32, 361
65, 598
36, 667
30, 313
2.342
2.260
2.366
2.285
2.328
2.221
2.344
2.254
2.367
1.951
1.828
2.160
18 697
5,071
10,005
1.418
1,146. 5
2 244 8
2
901 7
24 296
76,031
50,170
304 149
54,488
86, 400
165, 267
260, 412
162, 524
1 127 975
261 109
176, 459
234,493
244,664
227 502
31, 796
24, 789
37, 366
34, 230
265 186
132 852
459 556
33, 495
30,082
26, 566
22, 693
2.379
2.004
1.872
2.096
2.285
2.060
1.865
2.185
2.374
2.152
2.013
2.253
2.431
2.188
2.083
2.282
130,305
27,586
2.395
2.202
2 161
2.274
Wheat flour:
Production :f
20,178
20,116
23,099
22,695
22,383
19. 760
18, 994
17,007
17,152
19,957
20,895
Flour
thous. of sacks (1001b.)-.
19 221
20,357
r
64.8
57.0
66.1
82.2
74.9
59.9
74.6
65.3
63.5
78.0
70.2
69.0
Operations, percent of capacity
68 9
388, 055
330,126
390, 721
377, 295
334, 365
380,597
405, 071
413, 639 r 424, 907
Offal
-- -- short tons_. 438, 000 431, 000 424, 801
389 000
46, 420
45, 300
39,168
46,344
44,222
39,573
52,892
51,986
51, 274
46, 561
48, 740
47, 541
Grindings of wheatf
thous. of bu._
44,852
Stocks held by mills, end of month
r
5,428
4,500
4,757
5,118
thous of sacks (100 lb )
3,041
3,044
5,062
4,784
2,623
2,727
1,346
3,007
5,897
5,038
1,465
Exports
do _
1,662
Prices, wholesale:
Standard patents (Minneapolis)
5.400
5.269
5.575
5.445
5.255
5.512
5.469
5.340
5.712
5.750
5.600
dol. per sack (100 lb.)
5.715
5.744
5.106
4.980
4.915
5.119
4.869
5.194
5.135
4.869
4.938
5.231
Winter, straights (Kansas City)
do
5.069
5.169
5.119
2
' Revised.
i Revised estimate.
December 1 estimate.
* No quotation.
cFThe total includes wheat owned by the Commodity Credit Corporation and stored off farms in its own steel and wooden bins; such data are not included in the break-down of stocks.
fRevised series. Data for rough rice, included in rice exports, have been revised using a new conversion factor supplied by the U. S. Department of Agriculture, which takes into account changes in milling practices; revisions beginning 1933 are available upon request. Revised data for January 1947 to July 1948 for wheat-flour production and grindings of wheat will be
published later.
SURVEY OF CURRENT BUSINESS
January 1950
Unless otherwise stated, statistics through
1948 and descriptive notes are shown in the
1949 Statistical Supplement to the Survey
1948
November
S-29
1949
December
January
February-
March
April
May
June
July
August
September
October
November
FOODSTUFFS AND TOBACCO—Continued
LIVESTOCK
Cattle and calves:
Slaughter (Federally inspected):
Calves
thous. of animals.
Cattle
do___
Receipts, principal markets
do_. _
Shipments, feeder, to 8 corn-belt States
do...
Prices, wholesale:
Beef steers (Chicago)
dol. per 100 lb.
Steers, stocker and feeder (Kansas City)_-do___
Calves, vealers (Chicago)
_. .do...
* Hogs:
Slaughter (Federally inspected)
thous. of animals _
Receipts, principal markets
do
Prices:
Wholesale, average, all grades (Chicago)
dol. per 100 lb.
Hog-corn ratio
bu. of corn equal in value to 100 lb. of live hogSheep and lambs:
Slaughter (Federally inspected)
thous. of animals.
Receipts, principal markets..
do__.
Shipments, feeder, to 8 corn-belt States
do...
Prices, wholesale:
Lambs, average (Chicago)
dol. per 100 lb_
Lambs, feeder, good and choice (Omaha)-do
614
1,151
2,511
461
572
1,197
1,855
195
484
1,126
1,786
94
476
994
1,526
72
619
1,102
1,895
126
562
996
1,733
100
510
1,025
1,827
92
533
1,095
1,896
140
501
1,090
1,833
164
549
1,232
2,470
384
r
552
1,524
2,528
586
568
1,15G
3,061
585
1,116
2,280
1,432
30.71
24.52
30.80
26.78
23.26
30.75
24.35
22.15
32.50
22.25
21.25
30.38
24.14
24.37
27.63
24.20
23.66
27.94
24.88
24.02
26.45
26.47
22.53
25.94
25.86
20.62
24.88
26.28
20.06
25.70
28.11
19.74
27.25
28.93
20.57
27.15
28.21
21.45
26. 75
5,425
3,272
3,528
5,377
3,316
4,080
2,562
4,315
2,615
3,894
2,471
3,721
2,438
3,745
2,406
3,165
2,072
3,417
2,314
3,879
2,395
4,959
3,055
6,003
3,618
21.01
19.46
19.44
20.16
18.32
18.49
19.08
18.23
19.09
ig.74
17.87
15.87
'17.2
17.2
16.1
17.5
16.9
15.2
14.7
15.5
15.4
16.4
17.2
16.1
15.3
1,444
1,786
367
1,329
1,439
133
1,235
1,386
151
1,046
1,092
74
949
845
61
676
824
761
1,243
163
1,164
138
976
1,202
144
1,126
1,650
335
1,180
1,932
534
1,172
2,054
572
1,060
1,296
212
25.12
23.01
25.12
23.31
24.75
24.75
30.50
29.50
29.25
27.12
24.50
0)
0)
0)
0)
0)
0)
0)
23.62
22.66
23.00
23.21
23.75
23.28
23.38
23.25
1,890
879
64
1,757
1.049
46
1,408
1,083
52
1,519
1,018
1,353
930
115
1,362
779
76
1,438
716
97
1,358
643
65
1,441
521
45
1,436
411
45
1,564
'409
41
1,763
506
671, 468
170, 581
1,928
649,195
170,784
935
583, 486
158, 240
664,174
143,137
1,709
606,020
119,431
2,388
623, 536
94,035
1,302
645, 249
81,148
1,227
638,252
75, 627
1,482
716, 737
72,053
2,511
71,475
2,260
78, 763
1,070
MEATS
Total meats (including lard):
Production (inspected slaughter)
mil. of lb___
Stocks, cold storage, end of month
do__»
Exports
__do__Beef and veal:
Production (inspected slaughter)
thous. of lb_.
Stocks, cold storage, end of month
do—
Exports
do_...
Price, wholesale, beef, fresh, steer carcasses, good
(600-700 lbs.) (New York)
dol. per lb__
Lamb and mutton:
Production (inspected slaughter)
thous. of lb._
Stocks, cold storage, end of month
do
Pork, including lard, production (inspected
slaughter)
thous. of lb_.
Pork, excluding lard:
Production (inspected slaughter)..
.-do—
Stocks, cold storage, end of month
...do
Exports
do—
Prices, wholesale:
Hams, smoked (Chicago)
dol. per lb..
Fresh loins, 8-10 lb. average (New York) .do
Miscellaneous meats and meat products, stocks, cold
storage, end of month:
Edible offal
_._thous. of lb_.
Canned meats and sausage and sausage-room
products...
thous. of lb_.
Lard:
Production (inspected slaughter)
do—
Stocks, cold storage, end of month
do
Exports
do—
Price, wholesale, refined (Chicago) _._dol. per lb_.
612
28
635, 429
126,287
447
640,589
.489
.443
.406
.392
.404
.410
.433
.431
.438
.464
61,663
23, 305
58, 335
26, 209
55, 520
22, 466
47, 548
19, 571
43,156
14, 268
30, 761
9,864
33, 561
37, 427
6,761
40,975
6,651
48, 257
6,869
993,960 1,159, 741 1,052, 632
777, 258
811,293
715,895
754,870
678,466
675, 735
50, 414
7,268
686, 365
495,142
367,043
6,102
500,186
283,178
6,749
.556
.533
.586
.546
.613
.558
.551
2,479
.489
.453
51, 245
' 47,642
49,467
7,007
704, 543
752, 254
310, 706
1,813
851, 366
469,153
3,345
762, 355
585, 215
3,027
563, 446
611,123
3,076
593. 593
586, 429
2,943
527, 859
545, 231
3,866
.570
.456
.579
.415
.571
.429
.546
.457
.570
.502
.550
.518
42,312
58, 081
64, 021
62,136
61, 269
58, 535
54, 707
55, 322
56,671
54, 958
49, 570
517,974
466,108
5,855
.520
.515
556, 838
419, 590
12,105
.476
.476
51, 338
47, 893
9,686
r
8, 222
851, 970
518,143
204, 678 634, 343
4,342 • 209. 687
1,074,324
801,460
281,202
.386
32, 446
38,863
46,065
51,980
55, 683
58, 348
50,941
41,209
34,310
27, 374
r 26, 094
28,494
176, 282
77,021
15,117
.216
225, 748
116,397
41,112
.195
212, 810
160, 610
33, 821
.171
156, 573
179, 628
42, 517
.152
159, 474
156, 782
55, 604
.152
137, 441
138,216
92, 304
.136
136, 470
125, 823
63, 282
.147
144, 798
103,890
76, 508
.136
134,178
96,255
52,293
.132
128, 257
68,819
28,305
.166
122, 743
48, 768
32, 682
.152
158, 861
r 38, 320
31, 503
.158
199,237
38,285
63,536
171, 472
54, 511
160,834
.346
22,069
148, 418
.340
19,959
131, 496
.328
24,937
108, 732
.353
26, 798
89, 205
.339
31, 644
77, 823
38,054
74, 733
34, 769
71,261
.241
38, 991
83,466
.260
132, 380
.238
58,185
211, 517
.236
82,866
266,084
.217
3,456
927
4,008
554
4,567
2,431
4,815
6,846
6,137
13, 993
6,105
13, 285
4,905
7,640
4,334
6,118
3,853
3, 963
3,851
1,207
159
104, 932
152
71, 532
144
58, 621
530
77, 319
954
107, 058
1,936
168,394
1,426
146,868
3,576
1,778
'810
121, 476
3,749
933
444
139, 298
5,845
7,875
1,943
141, 361
r
501
r 96, 382
236
72,228
.547
.463
.435
.483
.483
.533
.559
.628
.130
POULTRY AND EGGS
Poultry:
Receipts, 5 markets
thous. of lb-.
Stocks, cold storage, end of month
do
Price, wholesale, live fowls (Chicago) _dol. per lb-_
Eggs:
Production, farm.
millionsDried egg production
thous. of lbStocks, cold storage, end of month:
Shell
thous. of cases.
Frozen
thous. of lb..
Price, wholesale, extras, large (Chicago) f
dol. per doz-
2,290
166, 582
1
.564
.527
MISCELLANEOUS FOOD PRODUCTS
64,926
51,876
77, 293
55,187
55, 507
43,851
Candy, sales by manufacturers
thous. of doL.
Cocoa:
44, 434
26, 698
24,698
23, 276
13, 958
13,863
Imports
longtons._
.203
.199
.317
.391
Price, wholesale, Accra (New York)—dol. per lb_.
.185
Coffee:
1,294
1,214
1,805
1,488
1,844
1,359
'? Clearances from Brazil, total
thous. of bags..
811
843
1,198
1,058
1,295
890
To United States.
do
906
1,082
1,127
1,259
1,036
929
Visible supply, United States
do
2,560
2,086
1,851
2,113
1,667
Imports—
do.
1,782
Price, wholesale, Santos, No. 4 (New York)
.265
.272
.270
.276
dol. perlb..
.261
Fish:
40, 750
29, 535
29,033
49,699
28, 077
Landings, fresh fish, 5 ports
thous. of lb._
49,612
82,
722
150,974
104,138
127,
635
158,008
Stocks, cold storage, end of month
do74, 940
r Revised.
i No quotation.
fRevised series. U. S. Department of Agriculture data replace the series for U. S. standards published prior to
are available upon request.
34,642
36,028
25, 580
40,928
66, 713
69,382
24, 963
.190
32,103
.187
1,326
906
808
1,685
21,845
.211
22,119
.226
11, 253
.200
9,936
.205
1.672
933
859
1,687
1,868
1,129
796
1,603
2,332
1,403
798
1, 932
1,945
1,280
763
1,929
.355
1, 572
942
796
1,477
.270
.272
.277
.284
.302
69,890
91,453
71,117
114,031
66,145
127,217
77, 219
146,344
150,608
156,077
65,913
.246
2,185
1,507
850
.496
158,719
the October 1949 issue of the SURVEY. Data begining September 1944
SUKVEY OF CUKEENT BUSINESS
S-30
Unless otherwise stated, statistics t h r o u g h
1948 a n d descriptive notes are shown in t h e
1949 Statistical S u p p l e m e n t t o t h e Survey
1948
November
January 1950
1949
December
Janua.j
February-
March
April
June
July
October
FOODSTUFFS AND TOBACCO—Continued
MISCELLANEOUS FOOD PRODUCTS—Con.
Sugar:
Cuban stocks, raw, end of month
thous. of Spanish tons_.
United States:
Deliveries and supply (raw basis):
Production and receipts:
Production
short tons..
Entries from off-shore
do
Hawaii and Puerto Rico
do
Deliveries, total
do
For domestic consumption
do
For export
do.-..
Stocks, raw and refined, end of month
thous. of short tons..
Exports, refined sugar
short tons..
Imports:
Raw sugar, total
do
From Cuba
do
From Philippine Islandscf
do
Refined sugar, total
do—
From Cuba
do....
Price (New York):
Raw, wholesale
dol. perlb..
Refined:
Retail...
do....
Wholesale..
do....
Tea, imports
thous. oflb..
TOBACCO
Leaf:
Production (crop estimate)
mil. of lb._.
Stock, dealers' and manufacturers', end of quarter,
total
_
mil. oflb..
Domestic:
Cigar leaf
do
Air-cured, fire-cured, flue-cured, and miscellaneous domestic
mil. of lb_.
Foreign grown:
Cigar leaf
_._
do
Cigarette tobacco
do
Exports, including scrap and stems
thous. of lb_.
Imports, including scrap and stems
do
Manufactured products:
Production, manufactured tobacco, total...do
Chewing, plug, and twist
_
do
Smoking
_
do
Snuff
do
Consumption (withdrawals):
Cigarettes (small):
Tax-free.
millions..
Tax-paid
do
Cigars (large), tax-paid
thousands..
Manufactured tobacco and snuff, tax-paid
thous. oflb..
Exports, cigarettes
millions..
Price, wholesale (composite), cigarettes, f. o. b.,
destination...
_dol. per thous..
••659
409
434
1,091
2,490
3,728
3,678
0)
3,215
636, 652
239,064
18, 865
576,922
571, 618
' 5,304
275,318
210,060
79,992
564,079
556, 439
7,640
125, 201
245, 436
56,243
563,238
558,390
4,848
54,358
485,090
138,038
504,622
503, 222
1,400
1,533
3,186
1,493
8,447
1,348
3,149
1,416
4,095
134,306
121, 292
3,500
8,330
8,330
214,014
205,456
5,600
1
.057
.056
.057
.056
.057
.056
.058
.059
.092
.076
4,001
.092
.076
9,332
.092
.078
7,689
.092
.078
7,606
.093
.078
8,128
.093
.079
9,774
.093
.078
7,465
.093
.078
8,411
0)
681. 532
225, 273
619,578
611,382
8,196
1,442
3,657
567,829
236,686
537,449
535,102
2,347
1,525
2,785
• 197, 907 313,176 r 386, 786 r 318, 647
174,952
287,966 ' 329, 913 ' 264,133
50,849
15,236
25,176
52,845
68,585
6,452
26, 204
42,328
25,950
6,450
68,147
41,820
0)
0)
577, 439
156,084
608,479
604,698
3,781
1,492
1,863
509, 595
123,322
792,936
789,878
3,058
1,252
1,997
2,599
2,022
1,021
43, 899
642,038
132, 227
924,533
921.391
3,242
116, 207
391, 859
165, 441
7S3, 977
729, 920
4,057
548, 576
402, 253
133,168
523, 702
519,358
4,344
617
2,379
404
2,403
879
1, 475
342.392
272, 690
61, 901
28, 254
23, 684
248, 878
227, 217
8,549
28, 272
28, 259
250, 846
242, 278
1,416
27, 763
26,639
.058
.059
.060
.060
.093
.077
6,129
.093
.077
7,877
.077
8,443
.079
7,702
0)
471, 237
84,350
747,453
743,698
3,755
956
1,879
382, 265 ' 346, 792 342,089
267,999 " 253, 348 232,097
114,266
88,409
104,072
25,951
39,180
23,401
25,901
23,398
36, 555
21, 980
3,690
3,875
3,851
3,509
307
345
367
330
3,416
3,350
2,970
3,206
21, 711
6,838
24
128
57, 773
6,035
46,949
7,209
36,167
6,713
22
134
25,155
9,287
22,249
6,905
20,400
7,521
23
149
33,402
8,217
30, 563
6,606
61,875
9,088
20
134
76, 768
7,483
55, 78i
7,261
20,461
8,386
8,721
3,354
17, 517
7,152
6,830
3,535
18,031
7,218
7,386
3,427
17, 576
6,768
7,548
3,260
20,880
7,618
9,567
3,695
18, 729
6,940
8,535
3,254
20,591
7,226
10,120
3,246
21, 740
8,558
9,747
3,435
16,625
6,918
7,311
2,396
22,986
8,839
10,308
3,838
22, 565
8,345
10, 579
3,641
22, 434
7,774
10, 997
3,664
2,736
29,075
553,755
3,185
24,897
440, 267
2,208
27,967
438, 286
2,570
25,024
410,170
3,168
31,448
457,149
3,568
27,307
428,452
3,172
30, 691
428, 35T
3,236
32,849
519, 509
2,155
25,806
422, 496
3,041
35,347
516, 208
2,680
31, 743
532, 446
2,777
r 29.194
534, 274
19, 527
1,674
16,492
2,368
18, 214
1,280
17,138
1,237
20,490
1,649
18, 392
2,446
20,362
1,937
20,583
1,611
16, 625
1,449
22,869
1,476
22, 674
1,720
21, 975
1,523
6.862
6.862
6.862
6.862
6,862
6.862
6.862
6.862
6.862
6.862
6. 862
6.862
15,302
47
53
3,631
2,629
11, 942
44
103
4,005
965
14,082
23
16,951
118
15,569
145
27
35
41
3,319
2,705
2,657
4,076
2,312
3,276
2,771
2,571
.421
.246
.425
.244
LEATHER AND PRODUCTS
HIDES AND SKINS
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):
Calfskins, packers', 8 to 15 lb
dol. per lb__
Hides, steer, packers', heavy, native
do
LEATHER
Production:
Calf and kip
thous of skins
Cattle hide
thous. of hides
Goat and kid
thous of skins
Sheep and lamb
do
Exports:
Sole leather:
Bends, backs, and sides
thous. of lb
Offal, including belting offal . . .
. -do
Upper leather
thous. of sq. ft..
Prices, wholesale:
Sole, bends, steer, f. o. b. tannery
dol. per lb__
Chrome calf, black, B grade, composite
dol. per sq. ft..
13, 738
82
147
2,497
885
9,900
67
10, 281
67
97
65
1,480
2,831
14,320
51
104
3,433
1,011
2,722
925
3,221
991
10,714
58
85
3,294
1,477
.394
.295
.410
.267
.398
.267
.385
.229
.421
.209
.422
.200
.414
.213
.398
.214
.385
.209
.410
.238
905
2,049
3,048
2,729
1,053
2,239
3,232
2,665
943
2,073
3,013
2,564
886
2,124
2,982
2,537
947
2,163
3,457
2,463
766
1,891
2,859
2,154
797
1,942
2,764
2,214
877
1,976
3,018
2,419
571
1,566
2,364
1,834
867
1,982
2,730
2,619
12,355
105
127
37
57
314
60
122
527
1,714
3,676
6,080
.674
.701
.681
466
890
6,314
.657
189
6
704
185
6,035
3,329
.592
.578
56
151
3,113
.578
93
116
3,153
.568
87
70
831
' 1,959
' 2,997
2,532
92
16, 028
120
47
886
1,870
2,940
2,694
60
106
73
49
41
2,906
3,462
2,886
3,938
.564
.555
.559
.425
.245
.559
#
.549
.975
.975
Revised.
» Preliminary.
* Corrected monthly figures are not available; January-July 1949 total (including revisions for January and February) is 218,055 short tons.
2
3
Revised estimate.
December 1 estimate.
cf This series continues data in the 1942 STATISTICAL SUPPLEMENT to the SURVEY; there were no shipments for 1942 to 1947 except for January, February, and May 1942 (12,136,1,120, and
8,618 short tons, respectively). Data for January-July 1948 are shown on p. S-30 of the October 1949 SURVEY.
NOTE FOR LUMBER SERIES, p. S. 31.—Exports of sawmill products for 1948 have been adjusted to exclude box shooks, in accordance with the revised commodity classification effective
January 1949. Revisions for January-July 1948 are shown in a footnote on p. S-38 of the October 1949 SURVEY.
Minor revisions for total lumber production, shipments, and stocks for 1946-47 (since publication of the 1949 STATISTICAL SUPPLEMENT) are available upon request. Revised data for total
number for January-July 1948 and revised data for Western pine for January 1947-March 1948 are also shown in the above-mentioned note.
r
1.026
1.046
1.051
1.036
1.030
1.025
1.023
1.024
1.016
.975
.977
SURVEY OF CURRENT BUSINESS
January 1950
Unless otherwise stated, statistics through
1948 and descriptive notes are shown in the
1949 Statistical Supplement to the Survey
1948
November
S-31
1949
December
January-
February
March
April
May
June
July
August
September
October
November
LEATHER AND PRODUCTS—Continued
LEATHER MANUFACTURES
Shoes and slippers :§
Production, total
thous. of pairs..
Shoes, sandals, and play shoes, except athletic,
total
thous. of pairs..
By types of uppers :c?
All leather
do
Part leather and nonleather
do
By kinds:
Men's
do
Youths' and boys'
do
Women's
do
Misses' and children's
do
Infants' and babies'
do
Slippers for housewear
_
___do
Athletic
.do....
Other footwear
do
Exports
do
Prices, wholesale, factory, Goodyear welt, leather
sole:
Men's black calf oxford, plain toe._dol. per pair.
Men's black calf oxford, tip toe
do...
Women's black kid blucher oxford
do
34,691
36, 921
37,089
44, 818
37, 626
38, 509
32, 987
44, 969
r 41, 538
38,160
31, 639
34, 327
34,180
41, 266
34, 262
31, 429
34,152
28, 845
38, 926
34, 858
31,186
27,127
1,599
30,110
1,567
32, 267
2,058
31, 697
2, 506
38, 037
3,183
31,171
4,454
28,018
3,351
32, 622
5,911
26, 360
2,580
35, 630
3,405
32, 293
2,660
7,813
1,438
12, 873
3,802
2,692
5,477
313
283
278
8,901
1,319
13, 875
4,520
3,024
3,357
271
241
8,677
1,181
16, 485
4,829
3,155
2,177
236
181
336
8,141
1,077
17,151
7,790
1,209
17, 537
4.497
3,229
2,931
216
217
392
7,283
1,217
16,149
3. 956
2; 824
3,212
246
211
323
8,431
1,639
16, 748
4,267
3,067
3,877
255
225
287
6,383
1,464
15, 234
3, 541
2,223
3,706
221
215
334
8,702
1,797
20, 791
4,782
2,854
5,476
306
261
527
r
4,629
3,182
2,497
227
185
341
9,623
1, 407
20, 818
5,634
3,784
3,068
261
223
358
8, 409
1,710
' 18, 052
4,156
2,531
' 6, 067
299
314
406
8,246
1,607
14, 783
3,941
2,609
6,374
303
297
413
9.653
6.750
5.150
9.653
6.750
5.150
9.653
6.750
5.150
6.750
5.150
9.653
6.750
5.150
9.653
6.750
5.150
9.653
6.600
5.150
9.653
6.600
5.150
9.653
6.600
5.150
9.653
6.600
5.150
9. 653
6.600
5.150
9.604
6.600
5.150
28,618
35, 508
9. 555
6.600
5.150
LUMBER AND MANUFACTURES
LUMBER—ALL TYPES
Exports, total sawmill products!
M bd. reimports, total sawmill products
do
National Lumber Manufacturers Association:
Production, total!
.mil. bd. ft.HardwoodsJ
do
Softwoods:}:
_
do—
Shipments, total!
do
Hardwoods |-__
_
do
Softwoods!
do
Stocks, gross (mill and concentration yards), end
of month, total!
mil. bd. ft..
Hardwoods !___
do—
Softwoods*
do....
29,003
148,352
57, 641
126, 299
45, 092
94,181
51, 421
98, 673
54,161
123, 435
49,924
103, 852
59, 784
117, 351
60, 234
121,115
44, 549
100,176
61, 796
123, 722
74, 447
146, 880
52,426
170,493
2,815
620
2,195
2,540
582
1,958
2,541
539
2,002
2,318
485
1,833
2,258
609
1,649
2,220
576
1,644
2,057
450
1,607
1,946
378
1,568
2,658
568
2,090
2,533
463
2,070
2,613
377
2,236
2,625
407
2,218
2,731
414
2,317
2,653
406
2,247
2,778
426
2,352
2,729
368
2,361
2,432
413
2,019
2,371
379
1,992
2,938
471
2,468
2,901
450
2,451
2,874
469
2,405
2,951
478
2,473
2,790
501
2,289
2,903
500
2,402
2,947
538
2,409
3,206
603
2,606
7,140
2,253
4,887
7,411
2,303
5,108
7,455
2,338
5,117
7,515
2,406
5,109
7,679
2,512
5,167
7,671
2,482
5,189
7,743
2,490
5,253
7,776
2,548
5,228
7,859
2,582
5,277
7,914
2,603
5,311
7,851
2,594
5,257
7,777
2,594
5,183
7,306
2,529
4,777
5,427
379
5,048
32,863
8,836
24,027
24, 572
1 7,970
16,602
25,943
1 12,326
13, 617
28, 914
1 17, 407
11, 507
24,231
1 11,837
12,394
29, 617
1 4,307
25,310
27,606
1 9, 681
17,925
20,594
1 4, 852
15, 742
31, 062
1 5, 474
25, 588
42, 275
1 9, 054
33, 221
24,305
15,008
19,297
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" x 16'
dol. per Mbd. ft..
Flooring, B and better, F. G., I" x 4", B. L.
dol. per Mbd. ft..
Southern pine:
Orders, new.
.mil. bd. ft..
Orders, unfilled, end of month
do
Production
do—
Shipments
do
Stocks, gross (mill and concentration yards), end
of month.
.mil. bd. ft..
Exports, total sawmill products.
M bd. ft..
Sawed timber.__
do
Boards, planks, scantlings, etc
do
Prices, wholesale, composite:
Boards, No. 2 common, 1" x 6" or 8" x 12'
dol. per M bd.ft..
Flooring, B and better, F. G., 1" x 4" x 12-14'
dol. per M bd. ft..
Western pine:
Orders, new
mil. bd. ft.
Orders, unfilled, end of month..
do
Production!
_
do
Shipments!
do
Stocks, gross, mill, end of month
do
Price, wholesale, Ponderosa, boards, No. 3 common, 1" x 8"
dol. per M bd. ft..
West coast woods:
Orders, new
mil. bd. ft.
Orders, unfilled, end of month
do
Production
...do—
Shipments
do
Stocks, gross, mill, end of month
do
75.240
70.785
66.330
67.815
68.310
68.310
68.310
67. 568
64.680
63.896
62. 720
62.720
62.720
133.650
133.650
133.650
133.650
128.700
127.958
122.562
118.058
114.660
114. 660
114. 660
108. 780
105. 448
593
372
716
681
605
332
732
645
597
303
694
626
539
282
598
560
738
307
706
713
660
276
661
691
725
261
728
740
690
228
703
723
697
247
670
678
913
340
744
820
842
372
782
810
765
374
701
763
711
304
760
781
1,616
11,672
2,532
9,140
1,703
9,842
1,743
8,099
1,771
9,076
2,555
6,521
1,809
9,299
3,218
6,081
1,802
11,390
4,330
7,060
1,772
7,346
2,930
4,416
1,760
10,202
3,797
6,405
1,740
9,848
3,457
6,391
1,732
9,028
3,016
6,012
1, 656
9,218
2,737
6,481
1,628
8,869
2,488
6,381
1,566
8,380
2,376
6,004
1,545
70.289
69.872
67.292
65.400
64.167
62.001
60.380
59.033
59.479
61.173
63.326
64.311
65.008
152. 764
152.151
149.144
148.409
146.650
144. 513
142.865
139.374
139.200
136. 484
138. 542
139. 583
140.256
511
611
581
499
1,664
438
638
422
411
1,675
334
589
223
299
1,599
306
531
238
288
1,548
457
466
381
400
1,529
545
492
579
523
1,586
568
498
619
561
1,644
684
539
712
643
1,713
643
607
628
578
1,763
673
629
721
655
1,829
693
699
637
626
1,840
643
734
617
610
1,847
759
563
627
1,724
69.93
69.59
68.00
68.05
67.48
66.80
65.84
65.20
62.54
59.21
57.02
57.66
58.000
484
429
651
550
932
592
448
609
573
983
641
547
526
541
966
621
610
577
559
940
770
650
761
743
979
705
584
743
760
981
642
524
709
701
984
646
403
683
751
904
612
476
513
534
903
794
570
735
720
936
813
582
725
778
899
790
607
723
769
890
878
573
824
922
643
172,151
160, 833
64,670
155, 286
156,013
63,688
118,284
107, 837
75,894
143,180
133,192
84,534
176,061
179,021
81, 526
153, 516
158, 279
76,148
154, 677
152,137
77, 811
151, 386
160, 856
68, 742
96, 538
102, 578
62,947
169,274
172,478
59, 756
168, 747
169,832
58, 881
176,197
178, 764
55, 984
176, 501
180, 945
51,316
SOFTWOOD PLYWOOD
Production
thous. of sq. ft., $&" equivalent..
Shipments
do...
Stocks, end of month
do...
HARDWOOD FLOORING
Maple, beech, and birch:
3,950
4,299
4,025
3,475
3,925
Orders, new
M bd. ft.
3,925
4,525
3,400
5,000
4,300
4,800
4,200
4,275
8,500
6,872
8, 750
9,300
10,025
7,125
7,325
7,575
12,000
Orders, unfilled, end of month
do...
6,6C0
6,850
6,300
6,875
4,175
5,246
4,200
4,200
5,550
4,375
4,275
5,000
5,875
Production
do...
4,325
4,175
4,90C
4,650
3,950
4,651
3,700
3,900
4,700
4,200
3,675
5,200
4.925
3,950
4,575
4, 550
4,000
Shipments
do
7,725
8,843
7,850
7,300
7,425
10, 000
8,000
8,550
6,825
10,150
9,650
9,700
9,300
Stocks, mill, end of month
do...
r
Revised.
v Preliminary.
* Beginning 1949, data include some treated sawed timber which cannot be segregated.
§1948 data for production of shoes and slippers have been revised; revisions January-July are shown in the September 1949 SURVEY on p. S-31.
cfThe figures include a comparatively small number of "other footwear" which is not shown separately from shoes, sandals, etc., in the distribution by types of uppers; there are further
small differences between the sum of the figures and the totals for shoes, sandals, and play shoes, because the latter, and also the distribution by kinds, include small revisions not available
by types of uppers.
!See note at the bottom of p. S-30 of this issue regarding revised lumber series.
SUEVEY OF CURRENT BUSINESS
S-32
Unless otherwise stated, statistics through
1948 and descriptive notes are shown in the
1949 Statistical Supplement to t h e Survey
1948
November
January 1050
1949
December
January
February
March
April
June
May
July
August
September
October
LUMBER AND MANUFACTURES—Continued
HARDWOOD FLOORING—Continued
Oak:
Orders, new..__
Orders, unfilled, end of month
Production
Shipments
Stocks, mill, end of month
M bd. ft
do._
do.do__
do..
58, 507
41,161
73, 784
66,185
39, 618
51, 806
34, 730
67, 849
58, 237
49, 230
54, 851
32, 389
62,043
56, 378
54, 895
50,086
32, 964
54, 460
51, 204
58,151
61, 264
34, 744
65, 504
64, 869
58, 786
54,156
34, 933
61, 441
60, 360
59, 867
58, 749
31,879
64, 409
61, 803
62, 473
56,
31.
66,
62,
66,
876
908
584
825
232
62, 722
30, 229
58,250
61, 691
62, 791
78,066
35,029
70,606
73, 266
57,135
106,
52,
81,
85,
54,
218
547
946
926
009
85,525
55,918
72,162
77, 453
47, 202
METALS AND MANUFACTURES
IRON AND STEEL
Foreign trade:
Iron and steel products (excl. advanced mfrs.):
Exports, total
short tons.
Scrap
do._.
Imports, total
do_._
Scrap
.do...
281,097
27,498
119, 611
70,886
463, 376
16,010
181, 716
76,214
436. 737
9,971
284,142
166,448
388, 671
10,157
293, 209
199, 846
457, 025
12, 244
298, 844
239,226
565,140
33, 217
184, 289
118,839
553, 696
53,114
161, 729
127,675
599, 093
50, 866
109,133
91,838
507, 212
184,052
56,133
52,359
509, 644
27, 342
50. 667
43, 207
5,656
2,867
2,789
5,792
1,491
4,301
5,615
2,819
2,796
6,065
1,550
4,515
5,759
2,915
2,844
6,030
1,485
4,545
5,346
2,658
2,688
5,882
1,403
4,479
5,925
2,976
2,949
5,842
1,466
4,376
5,223
2,722
2,501
5,771
1,555
4,216
4,968
2,719
2,249
5,745
1,626
4,119
4,398
2,500
1,898
5,824
1,751
4,073
3,800
2,241
1,559
5,748
1,820
3,928
4,756
2,747
2,009
5,351
1,789
3,563
4,631
2,658
1,973
4,824
1,531
3,293
1,664
765
899
5,340
1,737
3,603
8,577
9,329
4,455
3,675
2,698
5,433
2,920
1,498
6,835
2,882
1,610
8,107
4,335
2,799
9,643
9,889
10, 910
8,623
11, 865
12, 549
7,939
12, 923
13, 750
7,112
12, 531
13, 696
6,172
11,986
12, 582
5, 576
10,164
10, 421
5,319
7,092
1,591
4,456
7,239
7,058
45,160
39, 470
5,690
630
501
7,351
39,460
34, 557
4,903
388
0
7,590
31,904
27, 882
4,022
371
0
6,992
24, 981
21, 811
3,170
391
499
7,735
17, 308
15,050
2,258
386
8,868
7,322
17,803
15, 770
2,033
560
11,656
7,277
21, 508
19, 273
2,235
650
12,162
6,249
27, 696
24, 957
2,739
642
12, 768
5,258
35,064
31,493
3,571
946
11,315
5,711
40, 811
36,084
4,728
1,025
9,461
5,541
45,356
39,346
6,010
968
1,575
877
47, 017
39, 585
7,432
461
35
58
43
55
48
38
37
60
42
46
50
44
2,407
1,100
606
2,284
1,111
625
2,065
1,040
573
1,857
987
535
1,639
1,075
567
1,446
929
467
1,243
867
439
1,087
906
455
1,032
697
342
1,048
872
446
980
881
459
955
716
398
30,312
146, 422
77,194
42, 241
34,360
137, 385
79, 882
43, 397
26, 948
126, 393
71, 876
38, 040
26, 999
118, 318
66, 744
35, 074
22, 204
102, 379
72, 052
38,143
24, 307
94, 958
61. 329
31, 728
11, 629
78, 944
54, 572
27, 643
23, 560
69, 865
59, 597
32, 639
24,147
70, 796
44, 360
23, 216
20, 861
61,330
58,121
30, 327
26,828
57,512
60,488
30,646
25, 392
54,322
57,150
28, 582
5,399
5,344
5,595
5,420
5,732
5,610
5, 223
5,135
5, 820
5,771
5,531
5,406
5,517
5,290
4,819
4,573
4,173
4,054
4,477
4,604
4,350
4,495
612
753
521, 553
' 22, 433
19, 327
5,618
255,787
20, 222
25, 246
17, 086
Iron and Steel Scrap
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
Ore
Iron ore:
All districts:
Production
thous. of long tons..
Shipments
do....
Stocks, end of month
do
Lake Superior district:
Shipments from upper lake ports
do
Consumption by furnaces
do
Stocks, end of month, total
.do
At furnaces
do
On Lake Erie docks
do
Imports
do
Manganese ore, imports (manganese content)
thous. of long tons..
Pig Iron and Iron Manufactures
Castings, gray iron:
Unfilled orders for sale
thous. of short tons..
Shipments, total
do
For sale
.do
Castings, malleable iron:
Orders, new, for sale
short tons..
Orders, unfilled, for sale
do
Shipments, total
do
For sale.
do
Pig iron:
Production
thous. of short tons..
Consumption
do
Stocks (consumers' and suppliers'), end of month
thous. of short tons..
Prices, wholesale:
Composite
dol. per long ton..
Basic (furnace)
do
Foundry, No. 2, f. o. b. Neville Island
do
1,043
1,212
1,262
1,295
1,350
1,525
1,775
1,942
2,013
1, 847
2,230
1,616
47.59
46.00
46.50
47.59
46.00
46.50
47.65
46.00
46.50
47.67
46.00
46.50
47.67
46.00
46.50
47.55
46.00
46.50
46.62
46.00
46.50
46.62
46.00
46.50
46.62
46.00
46.50
46.62
46.00
46.50
46.68
4&.00
46.50
46.68
46.00
46.50
146,835
110, 275
36, 014
157,395
116, 285
38, 730
140, 577
103,503
31,891
135, 042
99, 425
32, 545
138,889
102,027
30, 313
119, 953
83, 277
23,834
106,178
75, 537
22,165
116,052
84,112
26, 940
78, 710
50,124
14, 625
89, 964
59, 412
13, 348
86,502
55,853
11,823
70,690
48, 263
8,964
620, 503
508, 339
112,164
123, 914
87, 757
36,157
600,
493,
107,
131,
94,
37,
500
487
013
544
487
057
570, 665
469, 059
101, 606
124, 582
90, 093
34, 489
539,
439,
99,
111,
79,
31,
504,142 464, 782
410, 248 379, 673
93, 894
85,109
120, 035 104, 305
85, 986 • 76,116
34, 049
28,189
411, 601
338, 912
72, 689
91, 775
67, 580
24,195
376, 761
310,182
66, 579
100, 756
77, 877
22, 879
348, 239
293, 206
55,033
70.129
55, 072
15,057
311,923
257, 259
54, 664
95, 794
73,630
22,164
294,240
250, 239
44,001
88,417
71, 781
16, 636
280, 291
231, 849
48, 442
81, 278
65,651
15, 627
7,798
101
7,781
98
8,183
100
7,785
98
7,590
93
6,498
82
5,779
71
6,715
82
r 6, 590
84
926
11
Steel, Crude and Semimanufactures
Steel castings:
Shipments, total
short tons..
For sale, total
do
Railway specialties..
do
Steel forgings, for sale:
Orders, unfilled, total..
_
__
do
Drop and upset
do
Press and open hammer..
do
Shipments, total
.do
Drop and upset
do
Press and open hammer
do
Steel ingots and steel for castings:
Production
thous. of short tons..
Percent of capacity}:
Prices, wholesale:
Composite, finished steel
dol. per lb_.
Steel billets, rerolling (producing point)
dol. per long ton..
Structural steel (Pittsburgh)
dol. per lb_.
Steel scrap, heavy melting (Pittsburgh)
dol. per long ton..
717
790
927
217
758
459
7,481
101
8,388
103
.0415
.0415
.0420
.0420
.0420
.0420
.0420
.0420
.0420
.0420
.0420
.0420
58.24
.0350
58.24
.0350
58.24
.0350
58.24
.0350
58.24
.0350
58.24
.0350
58.24
.0350
58.24
.0350
58.24
.0350
58.24
.0350
58.24
.0350
58.24
.0350
42.75
42.75
42.05
39.50
37.25
26.60
23.25
23.00
21.00
21.00
'27.75
' 29.38
9,321
2,307
30
10,041
2,461
27
9,088
2,065
33
7,582
1,801
31
7,693
1,917
34
6,693
1,745
22
6,200
1,921
32
5,197
2,087
29
5,815
1,833
30
5,645
1,990
33
5,401
2,419
28
5,371
1,712
31
Steel, Manufactured Products
Barrels and drums, steel, heavy types:
Orders, unfilled, end of month
thousands..
Shipments
do_
Stocks, end of month
do.
]For 1949,'percent of capacity is calculated on annual capacity as of January 1,1949, of 96,120,930 tons of steel; 1948 data are based on capacity as of January 1,1948, 94,233,460 tons.
November
SUKVEY OF CURRENT BUSINESS
January 1950
Unless otherwise stated, statistics through
1948 and descriptive notes are shown in the
1949 Statistical Supplement to the Survey
1948
November
S-33
1949
December
January
February
March
April
May
June
July
August
September
October
Novem*
ber
METALS AND MANUFACTURES—Continued
IRON AND STEEL-—Continued
Steel, Manufactured Products—Continued
Cans, metal, shipments (in terms of steel consumed),
total
short tons..
Food
do
Nonfood
_
do
Shipments for sale
do
Commercial closures, production
millions..
Crowns, production
thousand gross..
*3teel products, net shipments:
Total
thous. of short tons..
Bars, hot rolled—Carbon and alloy
do
Reinforcing
do
Semimanufactures
do
Pipe and tubes
do
Plates
do
Eails
do
Sheets
do
Strip—Cold rolled
do
Hot rolled..
_
do
Structural shapes, heavy
do
Tin plate and terneplate
do
Wire and wire products
do
235, 506
153, 809
81, 697
202, 508
860
24,040
266,139
186, 544
79, 595
230,872
932
21,889
186,272
119, 810
66, 462
157, 631
943
23,824
190,755
126,377
64, 378
163, 389
833
22,316
208,188
131,004
77,184
172, 320
905
25,496
204,353
126, 898
77,455
169,194
768
23,408
230,167
147, 808
82, 359
189, 024
737
23,422
303,921
208, 633
95, 288
259, 026
779
27, 559
314,372
219,067
95,305
282, 977
746
26,984
489,794
383, 603
106,191
444,976
920
29,709
5,732
698
119
285
614
629
190
1,418
165
146
368
315
417
6,056
745
136
294
637
658
190
1,476
155
143
394
400
430
5,762
708
139
289
611
608
181
1,462
164
155
356
299
428
5,520
655
133
308
584
590
179
1,365
150
146
359
300
404
6,306
757
150
308
721
684
207
1,562
170
169
394
333
451
5,597
677
141
223
635
619
199
1,437
144
155
375
295
365
5,235
597
134
202
618
590
193
1,330
132
142
378
292
338
5,177
564
141
139
623
517
211
1,355
121
150
327
387
347
4,535
432
125
125
550
464
182
1,290
76
125
290
418
241
4,918
465
156
136
648
481
196
1,377
106
153
300
322
334
4,276
524
162
125
655
467
162
1,497
122
179
309
394
386
935
89
31
18
121
51
12
316
64
38
8
81
71
50, 714
227, 583
53,474
218, 591
' 53, 356
171,918
49, 749
175, 704
r 54, 852
254, 512
54,076
180, 765
r 56, 909
182, 760
' 54,184
262, 247
55, 777
182,171
52,001
276,727
49,742
245,978
P 45,790
252,431
.1241
.1325
. 1263
.1022
.0847
.0702
.0630
.0605
.0575
.0651
. 0725
.0737
.0775
164.3
34.6
129.8
99.2
.341
157.7
31.8
125.9
94.5
.346
148.4
29.1
119.3
90.2
.346
137.3
27.2
110.0
80.7
.346
152.9
27.5
125.4
92.4
.345
129.5
23.8
105.7
73.1
.331
110.4
21.4
89.0
56.9
.295
103. 9
23.3
80.7
48.1
.276
90.4
18.6
71.7
42.8
.277
104.2
24.0
80.2
49.3
.282
123.4
27.6
95.8
65.3
.282
135.3
29.1
106.2
75.9
.282
107.1
26.3
80.7
54.1
' 58, 006
r
r
'
'
416,974
312, 538
104,436
371, 691
910
25,511
285,
188,
97,
252,
644
092
552
522
874
19, 936
933
89
31
18
121
51
1
316
64
38
8
81
71
NONFERROUS METALS AND PRODUCTS
Aluminum:
Production, primary
short tons_.
Imports, bauxite
long tons__
Price, wholesale, scrap castings (N. Y.)
dol. per lb_Aluminum fabricated products, shipments, total
mil. of lbs._
Castings
do
Wrought products, total
do
Plate, sheet, and strip
do
Brass sheets, wholesale price, mill
dol. per lb_.
Copper:
Production:
Mine production, recoverable copper
short tons_.
Crude (mine or smelter, including custom intake)
short tons._
Refined
do
Deliveries, refined, domestic
do
Stocks, refined, end of month
do
Exports, refined and manufactures
do
Imports, total
do
Unrefined, including scrap
do
Refined
do
Price, wholesale, electrolytic (N. Y.)__dol. per lb_.
Lead:
Ore (lead content):
Mine production
short tons..
Receipts by smelters, domestic ore
do
Refined:
Production, total
do
Primary
do
Shipments (domestic)
do
Stocks, end of month
do
Price, wholesale, pig, desilverized (New York)
dol. per lb_.
Imports, total, except mfrs. (lead content)
short tons..
Tin:
Production, pig
__
long tons..
Consumption, pig
do
Stocks, pig, end of month, total §
do
Government!
do
Industrial
do
Imports:
Ore (tin content)
do
Bars, blocks, pigs, etc
do_
Price, wholesale, Straits (N. Y.)
dol. per lb._
Zinc:
Mine production of recoverable zinc, .short tons..
Slab zinc:
Production
do
Shipments, total
do
Domestic
do
Stocks, end of month
do
Price, wholesale, prime Western (St. Louis)
dol. per lb—
L Imports, total (zinc content)
short tons..
For smelting, refining, and export
do
For domestic consumption:
Ore (zinc content)
do
Blocks, pigs, etc
do
51,318
50, 668
50, 403
56, 746
77,873
72,657
67, 354
61, 413
56, 910
55,850
58,297
102, 779
99, 655
89, 756
11, 636
35, 491
18, 210
17, 281
.2320
64, 451
96,117
102, 292
96, 080
13, 725
52, 222
23, 898
28, 359
.2320
69, 438
78, 298
94,070
91, 053
21, 041
48, 329
25, 920
22, 409
. 2320
76, 941
80, 275
97, 861
83, 841
10, 653
r 59,160
r 27,861
31, 299
.2320
97,123
88,165
113,154
68, 450
15,415
* 64, 414
' 31, 822
32, 592
.2318
91, 589
93, 873
76,134
76,494
11, 248
48, 457
27,131
21, 326
.2145
81, 258
98,139
32, 566
128, 441
14, 910
' 46, 548
' 19, 044
r 27, 504
.1776
72, 051
92,118
45, 653
166, 925
17,066
46, 570
20, 221
26, 349
.1634
62, 449
85,638
45,316
212, 817
10, 349
33, 829
14, 414
19, 415
.1706
62, 279
85, 577
90, 739
217,167
8,695
45,372
24,372
21,000
.1733
64, 870
79, 949
103,115
193, 890
14, 214
38,177
«• 15, 745
22, 432
.1733
36, 504
35,337
36, 997
38, 357
33, 761
32, 307
33, 245
32, 285
39, 822
43, 558
37, 272
38, 715
36, 807
38, 347
36,162
36, 654
30,030
32, 126
33,905
32, 255
' 30, 534
30,161
29,779
29, 497
36,329
47, 029
44, 534
40, 289
34,192
52,
49,
44,
40,
50, 664
48, 775
50, 440
38, 656
44, 751
42, 254
41, 652
38, 514
53,
51,
28,
56,
50,150
48, 957
16, 743
72, 347
51,605
51,206
19, 792
94,132
46, 429
45, 455
30. 017
100,117
i 39, 282
38,332
1
34, 894
i 94, 201
i 39,362
37, 754
i 36,059
i 76, 782
35, 924
34,928
29. 566
61, 433
47, 210
46, 246
23, 738
66, 005
49, 223
48, 500
37, 779
65, 954
.1252
315
667
456
647
947
373
368
737
r
r
r
60,180
' 69,052
86, 882
108,192
164, 464
9,388
37, 231
25,102
12,129
.1733
.2150
.2150
.2150
.2150
.1891
.1515
.1372
.1200
.1356
.1503
.1505
.1342
32, 753
52, 809
64, 286
30, 859
33, 250
26, 430
48, 731
71, 661
9,287
30,856
19, 240
28,159
3,244
5,179
60, 064
46, 454
13,610
3,436
5,203
2 39, 314
2 24, 322
14, 992
3,541
4,696
39, 274
23, 929
15, 345
3,545
4,461
39, 827
25,199
14, 628
3,382
4,723
41, 602
27,903
13, 699
3,066
4,228
43, 322
31,116
12, 206
3,241
4,186
41,130
30, 550
10, 580
3,346
4,161
43, 431
33, 704
9,727
3,129
3,990
40,679
31,146
9,533
3,307
5,045
31,416
21, 703
9,713
- 3,171
4,852
30, 287
20, 873
9,414
3,246
2,411
32, 070
22,403
9, 667
2,835
2,433
1.0300
4,194
7,111
1.0300
3,977
587
1.0300
2,443
2,526
1. 0300
3,174
8,795
1.0300
4,205
8,493
1. 0300
3,801
4,210
1.0300
2,108
4,049
1.0300
2,210
3,318
1.0300
2,332
6,434
1.0300
3,284
6,458
1.0209
4,899
7,558
.9572
55,005
55,141
52, 036
52, 419
60, 980
58, 285
54, 791
53, 599
40, 064
44, 483
' 41, 863
37,988
71,195
96,142
66, 211
19, 484
76, 696
75, 332
67, 996
20, 848
75,
76,
62,
20,
815
234
614
429
69,193
68, 522
60, 827
21,100
78,121
71,017
51, 381
28, 204
75, 921
53,143
35, 948
50, 982
77, 537
52, 689
35, 564
75, 830
73, 989
66, 900
44, 820
82, 919
74, 569
72, 080
62, 443
85, 408
73,819
74,339
68, 659
84, 888
70, 392
70, 077
60, 220
85, 203
64, 399
51, 761
43, 998
97, 841
.1679
32, 323
2,609
. 1750
20,165
4,057
.1750
24, 952
4,966
.1750
13, 044
2,211
.1706
21, 213
4,090
.1406
20, 066
5,447
.1188
36, 484
9,025
.0955
30, 534
6,873
.0936
21,113
5,669
.1000
24, 756
3,839
.1001
' 23,198
1,692
.0932
20,547
1,109
17,073
12,641
5,919
10,189
8,039
11, 947
5,014
5,819
7,606
9,517
7,994
6,625
19,868
7,591
15,093
8,568
5,747
9,697
9,941
10,976
8,265
'13, 241
4,931
14,507
21,223
64, 465
14,192
69, 092
10,632
81, 260
8,239
90,152
7,127
100, 759
6,042
105, 574
8,528
112,115
13,155
109, 624
14, 265
101, 842
27,270
89, 724
33, 839
74, 863
36,989
61,511
5,191
3,495
3,321
5,101
2,404
7,179
1,823
9,226
1,412
11,896
1,305
13,833
1,510
14,803
2,221
13, 706
2,747
12,068
4,130
10,485
5,363
' 8,548
5,970
6,491
HEATING APPARATUS, EXCEPT
ELECTRIC
Boilers, radiators and convectors, cast iron:
Boilers (round and square):
Shipments
.thous. of lb._
Stocks, end of month
do
Radiation:
Shipments
thous. of sq.ft..
Stocks, end of month
do.
r
2
Revised.
» Preliminary.
i Beginning July 1949, figures exclude data for one secondary plant included previously.
g e e note marked " § . "
§Govemment stocks represent those available for industrial use; data for December 1948 reflect a considerable transfer of pig tin to strategic stock piles.
80, 778
92, 688
118,146
139, 285
.1820
23, 129
.9119
65,
73,
63,
89,
055
702
859
019
. 0975
SURVEY OF CURRENT BUSINESS
S-34
Unless otherwise stated, statistics through
1948 and descriptive notes are shown in the
1949 Statistical Supplement to the Survey
1948
November
January 1950
1949
December
January
February
March
April
May
June
July
August
September
October
METALS AND MANUFACTURES—Continued
HEATING APPARATUS, ETC.—Continued
Boilers, range, shipments
number _ _
Oil burners:
Orders, unfilled, end of month
do
Shipments
do
Stocks, end of month
do
Stoves and ranges, domestic cooking, exc. electric:
Shipments, total
number..
Coal and wood
do
Gas (inc. bungalow and combination)
do
Kerosene, gasoline, and fuel oil
do
Stoves, domestic heating, shipments, total...do
Coal and wood
do
Gas
do
Kerosene, gasoline, and fuel oil
do
Warm-air furnaces (forced-air and gravity-air flow),
shipments, total
_
.number._
Gas..
_._do
Oil..
do_._.
Solidfuel
.do
Water heaters, nonelectric, shipments.
do
38,973
33, 810
34, 513
31, 892
36, 295
27, 799
24, 867
29, 250
27, 587
39, 273
41, 492
44,164
57, 087
39, 690
42, 773
51, 225
27, 090
45,501
45, 947
26, 201
43, 781
47, 722
23, 878
43, 581
47, 673
25, 895
47,112
51, 231
25, 504
56, 430
51, 388
34, 906
54,684
51, 210
46, 862
48, 050
55,060
41, 589
46,910
60, 801
74,116
42,004
65,364
94, 805
35, 451
96, 963
177, 962
12, 610
150,737
14, 615
89,125
12, 986
34, 354
41, 785
177, 292
10, 797
152,382
14,113
99, 691
17, 716
45,821
36,154
187, 294
10, 477
163,115
13, 702
187, 626
42, 249
62, 692
82, 685
149, 399
11, 780
126, 619
11, 000
288,102
75, 257
104, 603
108, 242
241, 977
17,144
207, 521
17, 312
563, 694
146,962
220, 861
195, 871
262,193
18, 926
229, 244
14,023
734,975
213, 955
263,859
257,161
291,030
16, 718
257, 506
16, 806
666, 940
206, 025
263,134
197, 781
34, 595
12, 263
9,668
12,664
140, 597
42, 427
17,131
12, 613
12, 683
150, 111
55, 857
24, 573
16, 820
14,464
165, 597
48, 551
20, 059
15, 237
13, 255
144, 701
84, 250
36, 492
26,143
21, 615
180, 632
• 111,582
r 48,235
30,852
" 32, 495
191, 787
102, 989
44, 606
34, 676
23, 707
200, 959
258,193
20,832
215, 715
21, 646
509, 780
147, 042
189, 515
173, 223
175,
16,
136,
22,
234,
79,
83,
71,
615
536
683
396
434
628
004
802
136, 321
14, 440
107,148
14, 733
125, 563
24,114
40, 076
61,373
154, 230
16, 285
118,171
19, 774
15,102
32, 986
50, 712
189,388
17,107
152, 217
20, 064
112, 212
11,107
42, 038
59, 067
77, 498
17, 403
19, 981
40,114
142, 474
51,163
13, 044
15, 563
22, 556
114, 817
31,855
8,876
9,714
13, 265
116, 402
33,125
8, 543
8,834
15, 748
108, 485
41,376
12,146
10, 330
18, 900
133, 674
MACHINERY AND APPARATUS
Blowers, fans, and unit heaters, quarterly:
Blowers and fans, new orders.
thous. of dol._
Unit heater group, new orders
do
Foundry equipment (new), new orders,
net
1937-39=100..
Furnaces, electric, industrial, new orders:
Unit
kilowatts..
Value
.thous. of doL.
Machine tools, shipments
1945-47=100..
Mechanical stokers, sales:
Classes 1, 2, and 3
number..
Classes 4 and 5:
Number
Horsepower
Pumps, steam, power, centrifugal and rotary, new
orders
thous. of dol..
12,984
11,201
12,672
6,549
17, 029
11,432
16, 266
6,075
284.4
243.7
149.9
144.4
190.8
172.0
121.9
164.9
146.6
127.1
166.6
133.5
3,110
273
76.2
4,960
690
96.9
9,328
948
3,802
402
70.3
4,242
436
75.8
5.473
543
74.7
5,998
762
72.8
2,278
196
79.0
2,401
329
60.7
1,892
210
67.3
3,033
318
67.6
4,948
565
62.3
4,765
2,851
1,949
1,784
1,524
1,552
2,676
2,378
4,214
6,671
4, 257
248
46,679
245
63, 206
193
52,677
144
43, 781
133
47, 957
117
37, 836
158
30, 910
252
58,142
191
31, 703
343
65,118
268
50, 693
239
40, 923
3,580
4,263
3,390
3,247
3,593
2,775
3,019
3,358
3,767
2,914
2,539
2,541
1,906
1,243
685
1,059
' 2, 573
245
255,080
319, 300
217
274,180
183,700
254
228. 769
172, 400
224
241,267
201, 300
391
391
359
329
366
315
4,966
4,862
4,462
4,077
4,702
4,170
4,259
4,328
4,424
4,227
4,324
3,844
3,966
1,568
1,525
1,518
1,454
1,496
1,247
1,133
27,650
28,113
22, 705
21,630
24, 590
21,931
17, 566
ELECTRICAL EQUIPMENT
Batteries (automotive replacement only), shipments
thousands..
Domestic electrical appliances, sales billed:
Refrigerators, index
1936=100..
Vacuum cleaners, standard type
number. _
Washers
do
Insulating materials and related products:
Insulating materials, sales billed, index. 1936=100__
Fiber products:
Laminated fiber products, shipments
thous. of dol.
Vulcanized fiber:
Consumption of fiber paper
thous. of lb_
Shipments of vulcanized products
thous. of doL
Steel conduit (rigid) and fittings, shipments
short tons.
Motors and generators, quarterly:
New orders, index
1936=100.
Polyphase induction motors, 1-200 hp.:d"
New orders
thous. of doL
Billings
do_._
Direct current motors and generators, 1-200 hp.:d"
New orders
.
thous. of doL
Billings
do...
560
245
309, 897
242, 500
499
216
252, 656
192, 500
220
222, 850
211, 700
1, 637
2,648
2,786
179
207, 354
260, 700
210
161, 920
200, 900
205
219, 909
323, 789
206
168
357,281
333, 700
282
240
273
318
330
3,646
3,329
3,649
4,380
4,479
3,649
2,776
2,678
3,038
3,201
982
810
947
1,013
1,063
13, 240
12,568
12,400
14,992
285
301
262
240
24, 697
29,090
21,148
22, 421
18, 679
20, 542
5,016
6,708
5,266
5, 236
4,997
4,833
221
<• 17, 715
19, 655
' 2,890
3,248
PETROLEUM, COAL, AND PRODUCTS
COAL
|
Anthracite:
3,921
' 4, 975
3,403
2,112
2,373
3,722
4,403
3,707
3,722
2,927
4,680
4,499
Production
thous. of short tons._
Stocks in producers' storage yards, end of month
724
442
573
661
879
584
450
601
964
837
928
971
thous. of short tons..
358
382
510
301
424
617
610
399
305
338
470
408
Exports..
do
Prices, composite, chestnut:
«• 20.36
20.59
20.01
19.44
19.65
19.75
19.80
20.10
20.30
20.60
20.08
20.10
Retail
dol. per short ton..
1
1
1
i 15. 982
i 16. 029
16. 029
i 15. 695
i 15. 565
15. 615 i 15. 759
15.814
i 16.102
i 16.165
16.389
16. 384
Wholesale
do
Bituminous:
37,153 r 19,370
45, 342
35,170
' 10, 469
33, 096
46,417
47,945
26, 748
50,239
50,385
47, 802
Production
thous. of short tons..
Industrial consumption and retail deliveries, total
<• 28,068
29, 884
33, 591
34, 764
36, 537
46, 913
47, 291
42, 270
44, 337
37, 494
32, 608
thous. of short tons.. r 43,960
38,014
37,814
33, 703
34, 553
31, 363
29, 718
26,891
25, 842
28,005
27,292
r 21, 569
' 37, 750
Industrial consumption, total
do
r
954
999
981
983
695
995
825
417
44
79
47
16
Beehive coke ovens
do
7,835
8,513
8,253
8,305
7,523
7,008
7,384
7,161
' 2, 466
r 8, 269
8,655
8,654
Byproduct coke ovens
do
733
640
666
649
670
633
629
641
625
••654
777
Cement mills
do
771
6,142
6,338
6,168
6,732
6,341
6,279
8,251
7,347
6,330
7,167
8,261
8,508
Electric-power utilities
do
6,565
6,121
5,892
5,274
4,974
5,133
4,709
4,584
7,655
7,498
6,628
Railways (class I)_
_
do
7,710
'192
Steel and rolling mills...
.do
793
859
878
812
849
714
621
559
505
551
527
8,301
7,263
6,147
6,514
7,485
7,882
10,819
9,638
9,918
Other industrial§._.
do
10,506
11, 047
7,378
8,899
8,567
9,784
6,131
5,046
5,717
4,042
5,586
9,245
Retail deliveries
do
6,210
9,477
6,499
r
Revised.
» Preliminary.
* Data beginning January 1949 are not strictly comparable with earlier figures because of a reduction in the number of reporting cities; December 1948
figure strictly comparable with January 1949, $15,844.
cfThe number of companies reporting beginning the second quarter of 1949 is as follows: Direct current, 28; polyphase induction, 32.
§Data for coal-mine fuel are included in "other industrial."
SURVEY OF CURRENT BUSINESS
January 1950
1948
Unless otherwise s t a t e d , statistics t h r o u g h
1948 a n d descriptive n o t e s a r e shown i n t h e
1949 S t a t i s t i c a l S u p p l e m e n t t o t h e Survey
November
S-35
1949
December
January
February
March
April
May
June
July
August
September
October
November
PETROLEUM, COAL, AND PRODUCTS—Continued
COAL—Continued
Bituminous—Continued
Consumption on vessels (bunker fuel)
thous. of short t o n s . .
Stocks, industrial and retail dealers', end of m o n t h ,
total
thous. of short t o n s . .
Industrial, total
do_._Byproduct coke ovens
_do . . .
Cement mills
do....
Electric-power utilities
do
Railways (class I)
do_.._
Steel a n d rolling mills
do
Other industrial
do
Retail d e a l e r s . . .
do....
Exports
do
Prices, composite:
Retail
dol. per short ton._
Wholesale:
Mine run
do
Prepared sizes
do
100
_~_
51
_._.
69,
578
69,578
66,499
11.
464
11.464
1,377
1,377
24,
894
24,894
9,153
9,153
1,019
1,019
18,592
3,079
3,570
3.570
69,
373
69,373
66.667
12,104
1,291
1,291
24,
812
24,812
9,411
9,411
1,052
1,052
17,997
2,706
2,316
2.316
99
__
118
..-_
114
_._.
87
_.
....
85
._
78
54
„_
65,164
63,066
12,
914
12,914
1.105
1.105
23, 499
23,499
9,296
1,160
1,160
15,092
2,098
3,752
3.752
72,
755
72,755
70, 273
70,273
15,870
1,433
1,433
25, 444
25,444
9,701
9,701
1,360
1,360
16,465
2,482
4,827
4.827
74,161
71, 351
71,351
15, 747
15,747
1,614
1,614
25,607
9,818
9,818
1,376
1,376
17,189
2,810
2,810
4,349
4.349
69,119
66, 399
66,399
13, 896
13,896
1,469
1,469
25, 062
25,062
8,669
1,214
1,214
16, 089
16,089
2,720
1,923
1.923
68,621
65,776
13,604
1.454
1.454
25
25, 458
458
8,196
8,196
1152
1,152
15,912
2.845
2,845
2.274
2,274
62,064
59,990
11,903
1,422
1,422
24,142
6,680
1,029
1,029
14, 814
14,814
2,074
1,806
1.806
''47,165
47,165
'45,755
' 45, 755
»-9,946
' 9, 946
1, 018
'r 1,018
19, 706
19,706
4,170
4,170
'916
' 916
9,999
1,410
1,410
282
282
49
46
32
,
67,
795
67,795
65, 552
65,552
12,
481
12,481
1,184
1,184
24,150
9,551
9,551
1,017
1,017
17,169
2,243
2,083
2.083
60,511
59,048
11,
452
11,452
984
984
22,127
8,908
1,023
1,023
14, 554
14,554
1,463
1,463
2,016
2.016
68,834
66, 927
66,927
13,
759
13,759
1,103
1,103
24,120
9,861
9,861
1,121
1,121
16,963
1,907
1,907
2,021
2.021
45,264
43,819
10,060
1,001
18,508
4,094
907
9,249
1,445
15.99
15.99
15. 96
15.96
15.99
15.99
16.04
16.04
16.04
16.04
15.84
15.84
15.51
15.51
15.52
15.52
15.53
15.53
15.54
15.54
15.69
15.69
8.395
9.211
9.211
8.756
9.250
8.816
8.816
9.276
8.832
9.303
8.778
9. 237
9.237
8.570
9.029
8.539
8.921
8.921
8.518
8.518
8.929
8.531
8.531
8.945
8.515
8.515
8
964
8.964
8.580
9.060
r
-•640
640
5,833
' 5,833
259
638
638
6,066
279
624
624
6,076
288
623
623
5,475
253
437
437
5,958
276
633
633
5,761
5,761
261
528
528
5,798
323
268
268
5,242
5, 242
282
24
24
4,911
4,911
302
45
45
5.142
5.142
304
30
30
4,952
267
9
9
1,727
1, 727
293
30
3,471
1,589
1,059
530
117
46
1,591
1,103
488
129
38
1,541
1,113
428
154
39
1.504
i; 122
382
158
32
1,313
952
361
174
42
1,473
1,015
458
198
34
1,748
1,182
566
227
53
1,705
1.077
629
228
79
1,906
1,077
830
241
63
2.027
1,054
973
250
38
1,926
973
952
236
43
2,120
1,227
893
217
59
2, 017
1, 200
817
14.
500
14.500
14.
14.500
500
14.500
14.500
14.
500
14.500
14.
450
14.450
14.250
13.
812
13.812
13.250
13.250
13.
250
13.250
13.250
13.
250
13.250
1,968
170,242
97
_.
170,166
2,036
176,329
98
_„
177,335
1,737
167,072
94
__
175,295
1,397
150, 519
90
__
153,440
1,771
161,955
87
_.
165,919
1,726
_, .__
150,354
84
__
154,223
1, 763
154,146
85
161,053
2,090
147,098
__
154,861
....„_
1,731
145, 818
85
160, 358
_..__.„
1,840
148,192
85
_„„
162, 485
1.967
148, 206
86
162, 812
.1,822
..
155, 908
86
_ 568
166,
273, 912 2 274, 691
2 66, 799 2 64,040
190, 868 2194, 685
215, 966
216, 245
2 267.586
2 62,'793
2
188,383
2 16, 410
v,
15.89
15.89
11
8.640
8. 640
1
19.358
9. 358
16.10
* 8. 653
!
9.486
COKE
Production:
Beehive
thous. of short t o n s . _
Byproduct
do....
Petroleum c o k e . .
do...
Stocks, end of m o n t h :
B y p r o d u c t plants, total
do..
At furnace plants
do._.
At merchant plants.._
do...
Petroleum coke
do...
Exports
do_.
Price, beehive, Connellsville (furnace)
dol. per short t o n . .
P E T R O L E U M AND P R O D U C T S
Crude petroleum:
Wells completed
number..
Refinery operations
percent of c a p a c i t y . .
Consumption (runs t o stills)
thous. of bbl_.
Stocks, end of m o n t h :
XjL L
1 V l l l
j T i . {J
L c l ' J - J JtV
J-tJl l t / O
I d l l
_
_
-I-liO
_
_. _ . _ - _
CtxAV*.
_ _ _ _
JLXjl
^_/J-^/V?
_
_
j l l - L X ^ O — — — . - _ _ _ _ _
H e a v y i n California
Vilj
f_Xw _
do
Price (Kansas-Oklahoma) at wells..dol."per bbl__
Refined petroleum products:
Fuel oil:
Production:
Distillate fuel oil
thous. of bbl__
Residual fuel oil
do
Domestic demand:
Distillate fuel oil
do
Consumption by type of consumer:
Electric-power plants
Railways (class I)
Vessels (bunker oil)
Stocks, end of month:
Distillate fuel oil
240,083
246,199
60, 629
60,783
162, 885
169,321
16, 569
16,095
9,983
„ , _ _ „ _ 10,055
•_-_.-_-
—
do....
do
do
do
Exports:
Distillate fuel oil
thous. of bbl__
Residual fuel oil
do
Price, wholesale, fuel oil (Pennsylvania)
dol. per gal._
Kerosene:
Production
thous. of bbl._
Domestic demand
do
Stocks, end of month
do
Exports
do
Price, wholesale, water white, 47°, refinery
(Pennsylvania)
dol. per gal._
Lubricants:
Production
thous. of bbl.
Domestic demand
do
Stocks, refinery, end of month
do
Exports
do
Price, wholesale, cylinder, refinery (Pennsylvania)
dol. per gal._
— u— i
•_-•-"--
_ . _ . , .
- . v u
(
v - •_»
u_>^.
2 258, 648 2 265,216
2
2
64,857
66, 317
2
176, 316 2 182, 423
2
17,057
216, 476
w
x ,
w
- ,
^ v , ,
j _ _ . _ . _ • - - _ » . v.
-_- _ . ,
-_-__•__-•_
>_- —. .
_-.-_• ^_-
2 269, 341 2 272, 520
2
2
68, 331
66, 203
2
187,034 2188,152
2
2
16,037
16,104
2
vC, )
w
.
., ,
__._>•••
—v
_•
V J - v -_.
2
_.-,_-._.__.
-.-wv--.
_«-v—
_ , _ . , » _ - _ *
2
* i > W i
w v y ^
w «
V *V/
_». _• -•-_
v_ W _ ^
w
vy
2
V/>-«*-#_.
__->•_._*-_• I__/*_.
260, 585 2 251, 689
2 60, 760 2 58, 244
183, 849 2177, 571
2
2
15, 976
15, 874
, ,
x ,
U X_ «
2
-_._./_jr.
VJ-VJ>
_ - W • - — - • - J-
__•____•
•
__.••_._••__.
2 250, 932
2
58, 776
2 175, 984
2 16,172
, ,(2)
1_'._/.
____T_.
I
• V_r
•/_?__.
3,192
13, 885
2.510
2.510
3,068
14,166
2.510
2.510
2,127
14, 683
2.510
2.510
1,942
12,854
2!
510
2.510
1,866
11, 554
2.510
2.
510
3,655
12, 332
2.510
2.
510
2,872
12, 944
2.
510
2.510
3,071
13,092
2.
510
2.510
2,866
13,061
2.
510
2.510
3.403
12, 091
2.
510
2.510
2,619
12, 348
^510
2.510
2,916
15, 061
2.
510
2.510
32,
. . 434
...
38, 315
34, 274
40, 276
33,016
41,999
28,115
35, 904
28, 914
38, 996
25,368
34,
__ 417
__.
25,199
35, 277
23,134
31, 218
25, 870
32, 250
27, 972
—_
33, 414
30,047
33, 299.
31, 024
______
35,
361
_____
30,
645
39,108
41, 243
47,300
41, 615
48,097
34, 899
42, 911
32, 490
44,344
22,149
38,085
17,575
35,378
_ 504
16,
34, 877
18, 790
35, 682
_
22, 858
38, 281
22,478
39,639
______
23,141
41,130
3,571
3,571
5,
761
5,761
3,734
4,334
5,733
5,805
5,356
5,380
4,923
4,651
4,651
4,687
4,604
4, 615
4,615
4.906
5, 370
3,916
3,916
4,366
5,353
4,148
4,148
4,513
4,513
5,063
4,987
4,577
5,345
5,478
4.329
4,329
4,665
5,432
5. 432
4,075
_. _._
4,836
5,810
5,810
4.184
4,184
_..__.
4,765
6,656
6,
656
4.755
4,755
_._.__
4,238
83,909
77,033
75,953
76, 942
3 61, 729
3 62, 585
3„
53,937
3 59,398
3 48,923
3 58,190
3 51, 231
3 59, 668
3 58,381
.
3 63, 576
3 64, 730
3 64, 628
_
3 71,553
3 66,084
3 76, 037
...
3 66, 843
_
3 _.
83, 213
3
67,117
3 _....___
90, 643
3 68, 673
1,134
„._._..
642
___
_.._.__
1,153
821
_.
1,376
_._
...
774
1,121
_..__.
562
_„_
1,344
_..__._
___
809
1,108
_.___
514
„
..
...
711
1,019
656
608
453
_.__
._
730
769
.„.
„_.
599
__.
627
___
514
._„
750
.,_.
817
.110
10,848
10,
. . . .928
. .
25,
829
_____
297
_-.
.110
.110
.108
.103
10, 851
12, 384
24,010
______
246
_._
10, 538
12, 917
______
21,261
„
_
189
8,789
10,
_ . . .593
..
4
18,
953
_._,.__
489
_„
8,974
9,913
4
17,
801
_.,___
148
___
4
.098
4
8,166
6,605
.....
19,052
258
___
4
.088
.088
.088
.083
7.361
4,577
21, 546
181
6,715
4,531
23, 648
45
„
6,974
5,676
.....
24,826
______
79
..
7,175
6.315
.. .. .
25, 490
_____
111
___
4
(55)
4
(55))
4
.084
.088
8,093
6,799
.....
4 26,650
93
...
..._„
9,339
8,269
* 27, 609
_„
43
.120
.120
.120
.120
.120
.120
.118
.118
.112
.112
.112
.112
.112
.112
(55))
5
((«)
)
5
((s)
)
4,175
3,229
.,___
9,
512
.,___
731
4,368
2,953
_, ___
9,843
1,142
4,193
_,...
2,597
10,326
1,068
.....
3,638
2,195
10,856
870
3,698
2,426
_,
__.
10, 931
1,138
.
_, 457
_„.
3,
2,623
_, ___
10,588
1,031
.
3,606
_,.__
2,752
10, 089
1,301
3,804
3,023
9.922
___
898
3,554
2,699
_,...
9,731
998
...
3,510
3,111
8,962
1,115
. .
_.._.
3,729
3,026
8,734
886
___
.
4,116
_,
__.
2,927
______
8,894
_._
976
.318
.300
.274
.222
.200
.190
.168.
.150
.150
.148
.140
.140
_-_
—
—
2.510
7,316
(5)
' Revised.
1
Because of substitutions in the reporting companies, data beginning October 1949 are not strictly comparable with earlier figures. September 1949 figures strictly comparable with October
Mine run, $8,618; prepared sizes, $9,300.
2 Beginning January 1949, stocks of heavy crude in California are included in gasoline-bearing figures.
s Beginning January 1949, data exclude cracking stocks (formerly included with finished stocks in California) and stocks held in distributors' tanks in California (formerly included with
bulk terminal stocks). Comparable figures for December 1948 (thous. of barrels): Distillate fuel oil, 71,381; residual fuel oil, 63,993.
* Beginning January 1949, stocks held by distributors in California (formerly included in bulk terminal stocks) are excluded; comparable figure for December 1948, 23,895,000 barrels.
5
No quotation.
SURVEY OF CURRENT BUSINESS
S-36
1948
Unless otherwise stated, statistics through
1948 and descriptive notes are shown in the
1949 Statistical Supplement to the Survey
November
January 1050
1949
December
January
February
March
April
May
June
July
August
Septemembei
October
November
PETROLEUM, COAL, AND PRODUCTS—Continued
PETROLEUM AND PRODUCTS—Continued
Kenned petroleum products—Continued
Motor fuel:
All types:
Production, total
.thous. of bbl._
Gasoline and naphtha from crude petroleum
thous. of bbl__
Natural gasoline and allied products.._do
Sales of 1. p. g. for fuel, etc., and transfers
of cycle products
thous. of bbl_.
Used at refineries.
do
Domestic demand
do
Stocks, gasoline, end of month:
Finished gasoline, total
do
At refineries
do
Unfinished gasoline
do
Natural gasoline and allied products .do
Exports
_..thous. of bbl_.
Prices, gasoline:
Wholesale, refinery (Oklahoma)
dol. per gal..
Wholesale, tank wagon (N. Y.)
do
Retail, service stations, 50 cities
do
Aviation gasoline:
Production, total.
_thous. of bbL.
100-octane and above
do
Stocks, total
do
100-octane and above
do
Asphalt:
Production
___
short tons-_
Stocks, refinery, end of month
do
Wax:
Production
thous. of lb._
Stocks, refinery, end of month
do
Asphalt products, shipments:
Asphalt roofing, total
thous. of squares,.
Roll roofing and cap sheet:
Smooth-surfaced
do
Mineral-surfaced
do
Shingles, all types
do
Asphalt sidings
do
Saturated felts
short tons__
78,445
83,279
80, 779
71,357
79,025
77,157
82,162
79,383
82, 953
82,232
80,310
83,185
69,588
12, 916
74,268
13,476
72,310
12,998
63, 224
12,081
69,984
12, 783
68,432
12,346
72,905
12,476
70, 603
11,964
73, 740
12, 479
73,069
13,054
71,046
13,270
73,626 !
13,965
4,059
6,953
72, 560
4,465
7,143
72,162
4.529
6,497
63,U83
3,948
6,314
57,934
3,742
6,577
73,118
3,621
6,399
75, 279
3,219
7,241
81,622
3,184
7,296
83, 338
3,266
7,269
82,118
3,891
7,319
84,632
4,006
7,470
80, 760
4,406
8,301
79, 253
87, 275
49, 580
8,314
5,857
2,463
95, 422
55,051
8,275
5,579
2,975
108, 544
65,341
8.394
6,217
3,501
117,496
73,212
8,558
7,028
3,374
118,822
74, 706
8,621
7,405
3,406
117,020
70,817
8,331
7,253
3,364
113,164
65, 988
8,438
7,418
3,668
106,068
60,871
7,973
7,031
3,205
103, 867
58, 740
7,350
7,668
1,913
97,724
55, 281
7,155
7,391
3,277
94,445
53, 727
7,354
7,607
2,271
96,194
55,117
7,093
6,923
2,476
.105
.188
.197
.103
.188
.201
.102
.191
.201
.100
.191
.201
.099
.191
.201
.099
.196
.204
.099
.196
.204
.100
.196
.204
.100
.196
.204
.100
.196
.204
.100
.196
.203
.100
.196
.203
4,287
3,143
6,797
3,309
4,373
3,713
6,068
2,603
4,157
3,297
i 6, 790
i 3,170
3,951
3,125
4,132
3,039
i 6,841
i 3,144
3,614
2,735
l 6, 584
i 3,156
4,036
2,954
i 6,179
i 2, 782
3,718
2,805
16,171
» 2, 817
3,955
2,844
* 6, 606
i 3,117
952,200
830,000
902, 500
798,400
3,676
2,746
7,401
i 3, 430
1
3,805
3,078
i 7,056
i 3,123
3,975
3,106
i 7,357
i 3, 500
1
6,852
1
3,088
765, 600 601, 500 556, 400 455, 800 526,700 651,100 798, 900 899,100 934,000 1,018, 700
859, 500 1, 028, 500 1, 224, 200 1, 351, 500 1, 445, 800 1, 510, 000 1,500, 000 1, 354, 000 1,247,100 1,044, 700
78, 960
154, 280
77,560
151, 760
61,600
138, 600
76, 720
136, 640
4,708
3,231
3,077
3,108
1,286
1,169
2,253
339
39,384
935
860
1,437
226
29, 500
908
810
1,360
208
27, 563
936
843
1,330
184
27, 403
75,040
155,120
.098
.195
.201
69,160
134,680
72, 520
140, 560
73, 080
148,680
64,120
148,400
66, 640
139,720
72,800
125,160
99, 680
130, 200
3,695
4,650
4,196
4,596
4,273
5, 482
5,968
5,970
5,177
1,023
865
1,807
207
32, 256
1,189
976
2,484
180
45, 341
991
897
2,308
166
38, 012
977
1,034
2,584
190
43,153
988
990
2,296
181
42,232
1.267
1,309
2.906
225
53,387
1,418
1,437
3,113
272
53,911
1,453
1,460
3,057
289
57, 946
1,269
1,254
2,655
257
58,198
1,778
1,670
5,015
' 1, 683
' 1, 684
' 4, 995
1,841
1,868
4,964
PULP, PAPER, AND PRINTING
PULP WOOD AND WASTE PAPER
Pulpwood:
Receipts
-_thous. of cords (128 cu. ft.).
Consumption
do__
Stocks, end of month
do_.
Waste paper:
Receipts
short tons.
Consumption
do..
Stocks, end of month
do..
WOOD PULP
Production:
Total, all grades
thous. of short tons
Bleached sulphate
short tons
Unbleached sulphate
do._
Bleached sulphite
do-_
Unbleached sulphite
do._
Soda
do._
Groundwood
do__
Defibrated, exploded, etc.
do._
Stocks, own pulp at pulp mills, end of month:
Total, all grades
short tons
Bleached sulphate
do-_
Unbleached sulphate
do_.
Bleached sulphitedo._
Unbleached sulphite
do..
Soda
do._
Groundwood
_do._
Exports, all grades, total
Imports, all grades, total
Bleached sulphate.__
Unbleached sulphate
Bleached sulphite
Unbleached sulphite
Soda
_
Groundwood
do__
do..
do._
do._
do._
do._
do._
do._
1,658
1,822
5,608
1,706
1,688
5,622
1,788
1,824
5,604
1,644
1,619
5,575
1,628
1,739
5,465
1,226
1,572
5,112
1,311
1,537
4,876
1,451
1,502
4,877
1,388
1,330
4, 918
627, 082
617,171
498, 301
591, 356
571,176
516, 620
497, 232
509, 269
504,084
498,892
513,396
488, 811
545,024
545, 882
481, 050
509,123
525, 914
439, 983
492, 256
511,138
418, 706
491, 700
512, 582
397,963
427,149
419,348
405,228
552,539 r 588, 734 651, 790
586, 250 ' 591, 334 635, 550
367,874 ' 367, 980 380,159
1,120
116,782
417, 273
160,162
76, 241
42, 471
193,116
61,344
1,023
103,714
373, 350
146, 467
70, 698
41, 286
181,178
56, 692
1,117
118, 969
428, 796
158,635
70, 482
42, 328
177, 719
63,973
979
109, 373
366, 048
150, 924
61, 418
39, 692
160,759
57, 802
1,057
120, 949
381,575
164, 235
67,140
43, 891
180,197
52, 375
946
112, 324
344, 744
156, 712
56, 963
39, 405
165, 322
32,376
951
116, 830
343, 235
155, 353
58, 988
38,061
166, 006
32, 282
920
112,129
347,366
135, 302
56, 309
33, 256
160, 917
33,592
806
104, 061
307,177
117,955
39,249
32,128
142,101
28,475
1,019
119,599
408,055
149,967
57,505
40,654
157,057
35,463
1,030
112, 819
400, 941
149, 496
54,219
38, 844
155, 658
52, 441
1,146
128,507
445, 225
165,553
63,043
42, 506
167, 395
76,925
1,137
116,910
414, 298
169, 203
76, 589
42, 476
192,186
76, 907
108, 378
11,125
14, 228
27, 927
18, 556
3,109
24, 741
104,126
11,192
14, 535
21, 713
16, 852
2,880
28,186
114, 577
12, 582
16, 842
24, 744
19,356
3, 088
29, 942
123, 569
15, 584
17, 580
27. 809
20, 486
3,008
30, 311
139, 626
12, 819
17, 982
34, 653
22, 477
3, 388
38, 616
151, 920
12,866
17,003
40, 803
23, 634
3,463
44,171
161,188
14, 459
13, 224
45, 443
26, 711
3,631
46, 778
158, 496
17, 650
12,043
39, 823
28, 831
5,116
43, 840
145, 522
17,593
10,190
37, 288
23,173
4,488
40,584
139, 658
18,237
9,634
38,045
21, 515
4,668
36,024
121,395
15, 442
9,650
33,351
17,917
3,883
30,863
114, 948
12, 047
8,445
33,351
19, 808
3,364
27, 492
113, 936
12, 896
8,117
32, 412
19, 439
2.992
27, 626
4,423
144, 542
21, 939
16, 532
40, 549
43, 530
2,739
18, 297
7,946
167,107
21, 339
21, 312
49,100
44,079
1,498
28,724
24, 451
127, 036
25, 385
18, 094
36, 285
29,908
1,517
15,035
5,147
141, 366
32,127
24, 024
36, 523
31, 572
2,497
13,979
11, 321
126, 685
27, 690
13, 459
39, 872
28, 764
2,352
13, 784
10,923
97, 517
24, 393
11, 522
25,193
19,155
2,197
14, 461
17, 750
143, 365
39, 272
16,844
37, 528
24, 941
2,100
21, 939
22, 487
129, 611
36, 635
14,309
33, 686
27,020
1,695
15, 629
6,266
113,977
26,394
15,994
35, 027
23,435
1,907
10,784
6,068
135, 280
37, 409
13, 549
35, 531
30,430
2,351
15,548
4,989
118, 632
28,009
7,848
35, 491
26,187
2,357
4,510
174, 922
41, 739
18, 433
46,125
42, 436
2,774
21,346
3,340
237, 797
40, 845
49, 346
65, 666
55, 534
2,763
22,947
18,193
PAPER AND PAPER PRODUCTS
All paper and paperboard mills:
Paper and paperboard production, total
r
1,712
1,856
1,753
1,543
1,556
1,571
1,595
thous. of short tons..
1,949
1,348
1,747
1.749
1, 793
Paper
do
959
'881
807
801
717
862
826
895
887
821
923
797
892
Paperboard-.
do
823
••828
683
699
579
695
700
735
762
827
761
Building board
do.
56
53
64
85
98
54
49
74
81
102
98
106
r
Revised.
* Beginning January 1949, data exclude stocks of unfinished aviation gasoline; comparable figures for December 1948 (thous. of bbl.): Total, 5,915; 100-octane, 2,504.
__>_>
SURVEY OF CURRENT BUSINESS
January 1950
Unless otherwise stated, statistics through
1948 and descriptive notes are shown in the
1949 Statistical Supplement to the Survey
1948
November
S-37
1949
December
January-
February
March
April
June
May
July
August
September
October
'r 768, 425
475,159
«• 699, 796
' 706, 642
' 326, 385
' 804, 607
' 504, 695
' 765, 807
' 768, 412
* 323, 560
775,000
501,125
781,000
777, 000
327,475
r 99, 635
49, 245
' 92, 817
' 95, 890
' 85,085
93,000
49, 000
94,000
93,000
86, 000
' 276, 605
r 218, 325
' 267,120
* 264,450
' 101, 000
11.30
11.30
262,000
216, 000
269, 000
264, 000
106,000
November
PULP, PAPER, AND PRINTING—Continued
PAPER AND PAPER PRODUCTS—Continued
Paper, excl. building paper, newsprint, and paperboard (American Paper and Pulp Association):
Orders, new
short tons..
Orders, unfilled, end of month
do
Production
_
.do
Shipments
_._do
Stocks, end of month
do
Pine 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
Price, wholesale, book paper, " B " grade, English finish, white, f. o. b. milL _dol. per 100 lb_.
Coarse paper:
Orders, new
short tons..
Orders, unfilled, end of month
do
Production
do
Shipments
do
Stocks, end of month
do
Newsprint:
Canada:
Production
__do
Shipments from mills
do
Stocks, at mills, end of month
do_.
United States:
Consumption by publishers
do
Production
do
Shipments from mills
do
Stocks, end of month:
At mills
do....
At publishers
do
In transit to publishers
do
Imports
do
Price, rolls (New York)
dol. per short ton..
Paperboard (National Paperboard Association):^
Orders, new
short tons__
Orders, unfilled, end of month
do
Production, total
do
Percent of activity
Paper products:
Shipping containers, corrugated and solid fiber,
shipments
mil. sq. ft. surface area..
Folding paper boxes, value:
New orders
1936=100..
Shipments
do
690,493
424, 785
750,575
732,656
277,403
716,171
431,978
720,715
717,139
288,089
707,112
416,125
735,997
724,647
300,816
643, 472
385,086
676, 795
662,996
307,643
726,594
381, 980
732,694
720,730
321,039
640,445
354,868
664, 594
665,185
323, 650
629,447
344, 235
639, 482
634,235
330,495
638,617
347,135
631,906
626,319
335,220
594,904
376, 893
560,472
327,440
721,374
417, 250
684, 243
680,005
332,135
73,088
39, 408
85,660
80, 611
77,446
77,966
43, 364
86,196
82, 275
87,638
83, 762
37, 740
87, 649
89,868
85,400
80,650
38,155
81,447
79,300
83, 510
86,610
39,070
87,484
84,422
86,075
86,234
43, 280
83, 706
86,128
85,970
80,145
38,795
84,822
84,302
89,250
84,215
38, 500
85,363
85,565
89,000
71,145
45,390
66, 603
66, 407
88, 500
87,445
45,790
87,847
87,908
88,440
r
87, 250
«• 45, 500
'r 86, 983
87, 870
' 88,160
232,172
204, 498
261, 219
257, 205
250,963
203,008
253, 493
248, 613
90, 416
240,315
192, 520
248, 708
243,890
96,344
221,004
181,840
231, 686
229,000
97,683
258,988
178,880
255,393
252, 550
100,365
237,156
169, 705
240,199
240,920
101,015
241,305
166,870
237,088
238,600
98,480
230,732
161, 569
225, 219
230,058
93,925
218,920
177,400
202, 468
204,108
93, 000
263,150
194,945
248,153
243, 043
98,000
* 272, 762
' 211, 538
r 251, 456
rr 251, 878
98, 000
11.30
11.30
11.30
11.30
11.30
11.30
11.30
11.30
11.30
11.30
198, 513
87, 200
187, 236
192, 380
94,100
248,105
108, 500
225, 676
226, 795
' 280, 775
r 146, 500
r 236, 977
fr 242, 747
87, 210
' 288, 375
' 165, 000
«• 267,030
r 268, 585
' 85, 650
280,000
166, 000
277, 000
279, 000
83,650
r
11.30
253,558
113, 485
268,132
261,379
64,492
257,401
117,930
251,800
257,029
61, 207
254,792
119,000
270,069
261,485
70,000
218,650
97,225
239,403
232,061
76,000
244,150
96,165
252,040
246,509
81, 500
195,350
74,950
217,475
215,043
83,500
193,672
72,425
201,355
195,343
89,700
208,616
81,068
206,055
196, 506
98,250
397,330
405,923
75,250
385,819
406,678
54,391
385,961
375,667
64,685
372,344
356,963
80,066
415, 792
388,148
107, 710
404,973
403, 542
109,141
404,869
425,675
88,335
399,891
401, 538
385,027
382,059
89, 656
408,761
399,223
99,194
377,147
396, 313
80, 028
395, 766
390,016
85, 778
400, 288
423,151
62, 915
364, 253
75, 518
72,371
363,698
74,817
73,584
332,671
75, 626
75,096
308, 753
68,621
69, 235
366,887
78,322
77,404
368,945
75, 459
73, 930
392, 212
76, 723
76,898
349,944
76,316
74,359
313,118
69,903
70,818
318,046
75, 749
73, 746
356, 528
68, 919
67, 933
399, 262
73, 350
75,013
378,626
72,130
72, 417
7,713
344, 226
92,892
416,984
100.00
8,946
373, 590
84, 555
407, 527
100.00
9,476
98,165
369, 223
100.00
8,862
391, 580
92, 609
360,047
100.00
9,780
392,601
82,380
392,317
100.00
11,309
381,865
79, 724
362, 996
100.00
11,134
373, 041
71, 404
414, 526
100.00
13, 091
384,872
75,863
397, 741
100.00
12,176
416, 595
76, 848
377, 409
100.00
14,179
446,964
86,044
404,129
100.00
15,165
444, 335
85, 333
353, 410
100. 00
13, 502
412, 805
75, 708
399,910
100.00
13, 215
378, 578
87,677
797, 600 • 942,800 783, 700
333, 600 •313,900 304,100
826,400 • 766,100 769, 400
94
84
656,300
267, 700
694,300
85
727,300
272,000
731,800
84
688,000
260,300
696, 700
79
686, 700
238, 700
692,300
78
692,000
243,300
696,800
75
618,100
268,500
583,800
64
890, 200
365,600
821,600
873, 000
945,000
400, 600
888, 500
94
887, 000
429, 800
882,800
93
1
833, 800
87
100.00
5,536
4,942
4,710
4,346
4,893
4,555
4,773
4,324
5,681
6,171
5,665
445.0
480.1
451.4
483.6
386.9
433.6
390.2
414.4
430.7
480.2
397.2
424.8
390.3
408.0
407.5
436.2
360.5
335.4
447.6
452.4
513.9
472.0
482.0
506.6
453.9
493.5
911
734
177
1,226
987
239
675
541
134
714
550
164
748
586
162
1,074
822
252
945
755
190
760
570
190
863
669
194
704
554
150
763
597
166
1,129
944
185
1,019
758
261
47,117
103,626
51, 217
40, 597
103,017
46,187
45, 307
99,850
49, 579
43,978
100, 618
45, 620
PRINTING
Book publication, total
New books
New editions
number of editions. _
do
do
RUBBER AND RUBBER PRODUCTS
RUBBER
Natural rubber:
Consumption
long tons.
Stocks, end of month
do....
Imports, including latex and guayule
do__
Price, wholesale, smoked sheets (New York)
dol. per lb
Chemical (synthetic):
Production
long tons.
Consumption
do__.
Stocks, end of month.
do__.
Exports
do__.
Reclaimed rubber:
Production
do...
Consumption
do._.
Stocks, end of month
_do__.
51,632
113,251
50,613
45,985
141, 541
87,635
50,188
125,050
67, 680
46,285
118, 803
57,176
53,108
117,664
56, 679
47,859
112,916
50, 623
46,128
111,875
53, 434
»• 51, 243
90, 733
47, 285
r
.197
.189
.192
.185
.191
.185
.178
.163
.164
.167
.176
40, 779
37,690
107, 297
348
42,133
35, 446
115, 111
486
38, 890
36, 765
118, 357
632
36,103
34, 611
118,932
342
36, 063
38, 746
116, 843
975
35, 445
36, 454
114,944
509
32, 335
35, 267
112, 739
622
31,953
36, 949
106, 813
587
34, 270
30,014
113, 595
691
33,885
34,419
111, 333
384
30, 878
32, 443
110, 848
425
23, 050
22,170
33, 378
21, 430
21, 377
32, 630
19, 741
19,031
32, 868
18, 270
17, 712
32, 738
19,991
19, 508
33, 397
18, 463
18,649
32, 825
18,184
18, 323
32,326
18,849
19,316
30,684
14,626
15,966
29,126
17, 813
19, 297
27, 526
18, 304
18, 517
26, 257
thousands.
do,..
do__.
...do...
___do__.
do._.
do__.
6,084
5,591
2,335
3,139
117
10,476
86
5,702
5,441
2,299
2,953
189
10,698
188
5,896
5,285
2,304
2,855
127
11,339
179
5,891
4,866
2,172
2,589
105
12,385
161
6,578
5,903
2,519
3,229
155
13,091
142
6,959
6,611
2,771
3,718
121
13,191
171
6,934
6,824
2,380
4,323
121
13,301
169
7,392
7,535
3,234
4,185
116
13,134
130
6,264
7,694
3,098
4,488
108
11,717
120
6,228
7,768
3,191
4,463
115
9,970
133
' 5, 604
* 6, 746
r
3,056
r
3, 576
114
8,936
123
6,500
6,840
2,942
3,740
158
8,675
151
do__.
do._.
_do...
_do...
5,462
5,126
9,303
55
5,032
4,723
9,641
135
5,062
4,926
9,815
130
4,922
4,406
10, 442
142
5,948
5,174
11, 231
113
6,059
5,396
11, 748
110
6,088
5,296
12, 410
127
6,430
6,409
12,466
89
5,230
6,300
11,364
80
5,169
6,603
9,858
72
4,902
«• 5,843
8,916
81
5,296
5,557
8,644
105
.163
r
28, 015
' 33, 687
103, 955
425
r 20,
19,
26,
r
r
683
638
619
51,
98,
785
246
.167
28,619
31, 289
101, 590
19,363
18, 426
27,885
TIRES AND TUBES
^Pneumatic casings:
Production
Shipments, total
Original equipment
Replacement equipment
Export
Stocks, end of m o n t h .
Exports..
Inner tubes:
Production
Shipments
Stocks, end of month
Exports
_._
r
Revised.
cTRevised data for 1948 are in accordance with those published in the Yearbook of the National Paperboard Association; comparable data prior to November 1948 are shown in the 1949
STATISTICAL SUPPLEMENT to the SURVEY OF CURRENT BUSINESS.
SURVEY OF CURRENT BUSINESS
S-38
Unless otherwise stated, statistics through
1948 and descriptive notes are shown in the
1949 Statistical S u p p l e m e n t to the Survey
1948
January 1950
1949
November
December
January
February
March
April
May
July
August
September
October
111,262
132,950
144, 716
148, 461
126, 936
18, 856
18, 279
87
87
r 19,321
20, 667
*• 19, 785
19,313
6,922
6,212
18,715
87
23, 633
r
14,381
r
5, 798
* 19, 181
92
22,763
10, 797
4,461
19, 057
88
21, 277
T
8, 569
r
3, 610
18, 040
86
17, 269
9,340
3,337
511, 501
526,164
June
STONE, CLAY, AND GLASS PRODUCTS
ABRASIVE PRODUCTS
Coated abrasive paper and cloth, shipments, reams..
139, 414
122, 239
125, 701
131, 393
143, 753
132, 813
120, 863
18, 435
92
18,110
6,399
2,781
17, 425
84
12, 741
11,084
3,781
15,261
73
8,756
17, 591
5,475
13, 751
73
9,134
22, 206
6,752
15, 439
74
14, 539
23,104
7,764
17. 682
85
17, 779
22, 977
7,560
18, 622
86
19, 426
22,170
7,440
521, 308
493, 302
483, 574
413, 324
389,199
307, 702
345, 696
289, 331
399, 729
380, 361
420, 477
407,003
459, 671
433, 772
488,860
464, 536
449,182
444, 523
506,890
507,886
492,123
500, 344
23. 817
23. 868
24.085
24.060
24.050
24.021
24.002
24.000
23. 964
24. 045
24.043
128, 423
120, 233
124, 647
100, 836
116,015
83, 965
114,311
80, 815
124, 781
112, 870
125,128
112,584
126, 612
117, 523
125,012
121,010
105,703
111,298
126,139
132, 431
123, 021
129, 811
122, 020
136, 580
108, 111
103, 823
103, 514
94,289
100, 398
85, 222
101,059
89, 899
117, 742
105, 978
114, 878
100, 093
112,150
112, 997
111,533
111,846
120, 780
105, 648
121,209
118,388
109. 675
115,559
111,161
107, 601
7,214
6,469
6,751
6,026
7,302
6,203
6,501
6,029
7,288
6,929
7,035
6,869
7,663
7,811
8,036
7,928
8,108
7,746
8,662
8,933
7,550
7,981
8,283
7,737
123, 343
PORTLAND CEMENT
Production
Percent of capacity
Shipments
Stocks, finished, end of month
Stocks clinker, end of month
thous. of bbl
thous. of bbl
do _
do
CLAY PRODUCTS
Brick, unglazed:
Production
thous. of standard brick..
Shipments
do
Price, wholesale, common, composite, f. o. b. plant
dol. per thous..
Clay sewer pipe, vitrified:
Production
.
short tons..
Shipments
do
Structural tile, unglazed:
Production
do
Shipments
.
do
T
24.010
23. 984
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)
thous. of gross. .
Beverage (returnable and nonreturnable)
thous. of gross..
Beer bottles
__do
Liquor and wine
do
Medicinal and toilet
do
Chemical, household and industrial
do
Dairy products
.
.do
Fruit jars and jelly glasses ._.
.do
Stocks end of month
do
Other glassware, machine-made:
Tumblers:
Production
thous. of dozens
Shipments
-..
do
Stocks
- do
Table, kitchen, and householdware, shipments
thous. of dozens..
7,375
6, 963
534
569
601
589
645
649
715
701
748
1,108
1 164
i 1, 775
1,731
1,761
1,667
1,822
1,763
2, 020
2,084
2,022
2,528
1,965
2 246
321
1, 263
1,592
443
290
1 4
8,306
250
332
872
1,564
417
281
11
8,745
159
278
811
1,792
507
277
16
9,459
218
327
799
1,605
540
244
39
9,713
396
464
1,035
1,678
563
262
64
9,801
538
480
841
1,612
587
251
148
9,763
816
567
840
1,666
628
227
333
9,374
1,025
646
837
1,584
553
242
255
9,270
911
538
874
1,526
561
253
311
9,425
486
443
942
1,992
728
346
359
8,906
206
317
1,121
1,975
687
341
205
8 318
164
298
1,359
2,024
652
308
i 15
8,602
5,398
4,873
7,662
4,835
4,347
8,245
4,722
4,288
8,366
4,707
4,450
8,693
4,796
5,038
8,474
4,621
4,905
8,270
5,242
5,055
8,615
4,608
4,993
8,154
3,899
4,197
7,6S9
4,907
5,157
7,715
4,770
4,734
7,618
5,521
5,436
7,676
4,940
4,961
7,615
3,225
2,785
2,959
3,084
3, 645
3,264
3,672
3, 368
2,528
3,323
3,349
3,801
3,647
760
1
2,157
638
1
1, 860
176
304
1,227
1,888
610
255
0)
8 681
GYPSUM AND PRODUCTS
Crude gypsum:
Imports
thous. of short tons .
Production
do
Calcined, production
do
Gypsum products sold or used:
Uncalcined
short tons
Calcined:
For building uses:
Base-coat plasters
do
Keene's cement
do
411 other b u i l d i n s Dlasters
do
Lath
thous of sq ft
Tile
do
Wallboard c?
do
I n d u s t r i a l plasters
short tons
895
1,827
1,607
357
1,466
1,382
511
1,590
1,313
991
1 615
1*418
612, 919
508, 200
485, 097
473 462
490, 297
12, 419
139, 265
649, 924
6,991
729, 939
397, 763
10, 263
108, 453
512, 015
6,052
629, 052
443, 069
11, 734
108, 400
393, 725
6,991
574, 797
514, 531
12, 659
118, 814
538 427
9 341
610, 334
55, 067
57, 575
57, 052
r 54,958
TEXTILE PRODUCTS
CLOTHING
Hosiery:
Production
thous. of dozen pairs.Shipments
do
Stocks, end" Of month
do--..
11,338
11,345
21,817
11,280
9,663
25,051
11,165
10,939
25,420
12,744
13,430
14,140
11,243
11,408
25,234
12,009
12,808
24,386
11,158
11,714
23,820
11,024
10,898
23,938
11,786
11,205
25,800
9,693
9,450
26,044
12,354
12,809
25,589
12,997
13,883
24,703
13,564
14,526
23,741
298
1,247
5,309
9,544
454,426
664,133
709,958
725,602
5,283
5,215
256
4,128
834
69
18,829
18,769
14,194
3,941
634
59
18,369
18,305
11,487
6,120
698
64
17,328
17,403
7,907
8,344
1,077
75
COTTON
Cotton (exclusive of linters):
Production:
Ginnings§
thous. of running bales..
Crop estimate, equivalent 500-lb. bales
thous. of bales
Consumption
bales..
Stocks in the United States, end of month, total
thous. of bales..
Domestic cotton, total
_
do
On farms and in transit
do-...
Public storage and compresses
do
Consuming establishments
do
Foreign cotton, total
do....
r
3
,
685,881
r
r
13,717
13,592
'3,624
8,410
1,558
125
14,580
3
675,466
674,283
640,179
14,868
721,378
12,535
12,420
2,074
8,785
1,575
116
11,470
11,361
1,630
8,203
1,554
110
10,346
10,247
1,228
7,532
1,548
99
9,019
8,925
844
6,657
1,492
95
598,502
580,476
7,877
7,786
557
5,842
1,385
91
6,836
6,754
479
5,057
1,216
83
600,651
5,781
5,705
316
4,388
998 |
76 1
1
Revised.
D a t a for wide-mouth food containers include jelly glasses in November 1.913 and October 1949 and both jelly glasses and fruit jars in November 1949.
4
Total ginnings of 1948 crop.
December 1 estimate of 1949 crop.
^Includes laminated board, reported as component board.
§Total ginnings to end of month indicated.
3
2 Returnable only..
SUKVEY OF CUEEENT BUSINESS
January 1950
Unless otherwise stated, statistics through
1948 and descriptive notes are shown in the
1949 Statistical Supplement to the Survey
1948
November
S-59
1949
December
January
February
March
April
May
June
July
August
SeptemNovemOctober
ber
ber
TEXTILE PRODUCTS—Continued
COTTON—Continued
Cotton (exclusive of linters)—Continued
Exports
bales..
Im ports
do
Prices received by farmers
dol. p e r l b . .
1
/
Prices, wholesale, middling, Me' , average, 10
markets-.
dol. per l b . .
Cotton linters:
Consumption
thous. of bales..
Production
do
Stocks, end of month
do
428,132
51
.305
521, 568
5,443
.296
402, 923
12, 244
496, 578
8,533
.291
.315
.322
.326
.326
' 116
219
527
114
204
609
123
188
671
119
159
667
58,030
2,007
2,261
116,046
2,216
102,321
2,270
35.35
.338
.155
.174
33.99
.338
.158
.172
.917
.882
22, 513
21,231
9,253
389
8,681
111.9
591,105
4,497
463, 978
3,014
.300
508,246
4,057
.301
221,941
11,218
.301
167, 616
5,324
.293
211,372
55,889
.297
.278
.330
.329
.328
.321
.310
.300
.298
134
144
682
120
99
660
126
80
122
58
503
103
44
456
136
63
385
141
182
411
132
235
530
88,172
1,765
2, 257
93, 525
2,411
79, 355
1,188
74,317
1,616
'2,004
81,115
649
65,886
822
60,018
1,057
1,942
66,384
1,#198
60,383
2,167
32.78
.338
.155
.170
32.30
.338
.152
.170
31.35
.317
.146
.170
29.94
.303
.138
.170
28.76
.303
.131
.168
27.75
.303
.126
.163
28.18
.303
.128
.161
30.61
.303
.144
.160
34.70
.303
.163
.165
36.08
.303
.166
.167
38.17
.303
.170
.169
.659
.642
.629
.827
.612
.789
.604
.776
.598
.764
.600
.764
.610
.772
.620
.799
.639
.647
.823,
22, 043
20, 776
9,102
383
8,544
104.1
22,186
20,927
8,940
376
8,425
112.0
21,950
20, 758
8,425
355
7,966
112.3
21,515
20, 425
9,352
393
8,922
106.8
20, 864
19, 801
7,776
327
7,442
97.9
20,936
19, 862
7,737
325
7,358
93.8
20, 568
19, 464
7,975
337
7,506
95.8
20,137
19,012
5,988
255
5,637
79.6
20, 941
19, 747
8,827
377
8, 267
102.5
21,180
19,975
9,287
396
8,725
115.2
21,450
20,215
9,540
409
8,978
123.3
21, 557
20,314
10, 021
429
9,442
70.4
21.3
75.0
21.2
17.8
63.5
14.7
57.8
7.8
48.0
6.2
52.1
7.8
56.8
10.9
58.7
13.7
69.2
19.4
74.8
22.7
'74.9
'25.0
75.5
24.2
12.3
5.4
2,822
11.1
4.6
4,344
15.2
6.2
2,824
20.3
9.7
1,827
32.9
16.2
1,433
44.1
19.1
718
49.8
20.4
297
49.7
18.9
106
48.6
16.8
32
41.9
12.8
468
31.1
7.8
257
'24.7
r
4.4
767
19.6
3.5
.770
.370
.770
.370
.770
.370
.770
.370
.770
.370
.770
.370
.746
.362
.710
.350
.710
.350
.710
.350
.710
.350
.710
.350
.710
.350
460
90
27
576,846
7,595
.287
COTTON MANUFACTURES
Cotton cloth:
Cotton broad-woven goods over 12 inches in width,
production, quarterly
mil. of linear yards..
Exports
thous. of sq. yd._
Im ports
do
Prices, wholesale:
Mill margins
cents p e r l b . .
Denims, 28-inch
dol. per y d . .
Print cloth, 38^-inch, 64 x 60
do
Sheeting, unbleached, 36-inch, 56 x 60
do
Cotton yarn, Southern, prices, wholesale, mill:
22/1, carded, white, cones
do!, perlb-40/1, twisted, carded, skeins
do
Spindle activity (cotton system spindles):
Active spindles, last working day, totaL _. thous. _
Consuming 100 percent cotton
do
Spindle hours operated, all fibers, total- _mil. of hr_ Average per spindle in place
hours. _
Consuming 100 percent cotton
mil. of hr_.
Operations as percent of capacity
r
124.8
RAYON AND MANUFACTURES AND SILK
Rayon yarn and staple fiber:
Consumption:
Filament yarn
mil. of lb__
Staple
fiber
_.do._.
Stocks, producers', end of month:
Filament yarn
do
Staple
fiber
do.._
Imports
thous. of l b .
Prices, wholesale:
Yarn, viscose, 150 denier, first quality, minimum
filament
dol. per lb._
Staple fiber, viscose, m denier
do
Rayon broad-woven goods, production, quarterly
thous. of linear yards.
Silk, raw:
Imports
thous. of lb_.
Price, wholesale, Japan, white, 13/15 (N. Y.)
dol. perlb._
WOOL
Consumption (scoured basis) :§
Apparel class
thous. of l b . _
Carpet class.
do.
Imports
do.
Prices, wholesale, Boston:
Raw, territory, 64s, 70s, 80s, scoured._dol. p e r l b . .
Raw, bright fleece, 56s, greasy
do—
Australian, 64s, 70s, good topmaking, scoured, in
bond
dol. p e r l b . .
451, 903
• 435, 699
512,663
542, 401
510
614
1,018
1,215
423
12
25
164
2.60
2.60
2.60
2.60
2.60
2.60
2.60
2.60
2.60
2.60
2.60
2.60
29, 705
16, 634
38, 840
37, 099
19, 000
39, 495
29, 624
16, 928
42, 870
27, 688
15, 676
' 39, 745
29,110
18, 575
31, 272
20,152
12, 840
24, 511
21,576
12, 264
22,118
28, 785
11,415
29, 878
22,636
6,520
23,082
29,244
10, 588
38, 046
' 36,160
r 13, 350
39, 252
33,444
13,032
46,456
1.750
.560
1.790
.560
.560
1.800
.560
1.800
.560
1.800
.560
1.781
.556
1.725
.545
1.600
.545
1.525
.545
1.525
.545
1.525
.545
1.525
.545
1.675
1.375
1.615
1.801
1.925
1.925
1.925
1
1
1.675
1
67
1,620
25
83
1,960
30
79
«• 1, 926
26
120
60
70
41
124
65
75,641
63,969
115
76,257
69, 738
123
72,030
62,884
122
88,831
81,906
145
45, 936
5,056
27,056
13, 824
49,356
4,996
31, 256
13,104
60, 495
6,650
41,120
12, 725
42,884
4,916
31,124
6,844
3.395
3.375
3.375
3.375
1. 675
11. 675
i1.675
73
1,543
26
79
1,669
28
80
1,746
25
158
75
143
74
68, 201
59, 803
110
1.862
1.675
1
2.65
WOOL MANUFACTURES
Machinery activity (weekly average) :§
Looms:
Woolen and worsted:
85
75
78
77
Pile and Jacquard
thous. of active hours__
1,626
1,987
2,143
2,106
2,153
Broad
do..
24
29
23
Narrow
_
do..
27
Carpet and rug:
171
166
172
159
Broad
_.do..
114
97
103
N arrow
do._
82
Spinning spindles:
67, 404
78,006
90,274
82,547
84,113
Woolen
do_.
73,066
92, 615
85,177
80,209
91,989
Worsted
do__
164
156
142
165
160
Worsted combs
do__
Wool yarn:
59, 435
54, 688
57, 611
52, 208
Production, total§
thous. of lb
5,584
5,232
6,485
5,907
6,958
H
Knitting§
do..
f
35, 709
41,166
31,176
34,360
32, 760
Weaving!
do..
15, 995
18, 774
16, 344
Carpet and other§
do..
15, 800
18, 590
Price, wholesale, worsted yarn (Bradford
3.425
weaving system) 2/32s
dol. p e r l b . .
3.425
3.350
3.350
3.410
r
Revised.
v Preliminary.
i Nominal price.
§Data for December 1948 and March, June, and September 1949 are for 5 weeks; other months, 4 weeks.
90
2,282
37
125
65
138
68
82, 778
90, 413
151
92,012
110,119
176
56,096
6,544
38,416
11,136
, 68,895
' 8, 630
r 46, 235
14,030
62, 356
7,624
41, 232
13, 500
3.375
3.244
2.850
T
r
2.912
SUEVEY OF CURRENT BUSINESS
Unless otherwise stated, statistics through
1948 and descriptive notes are shown in the
1949 Statistical Supplement to the Survey
1948
November
January
1949
December
January
February
March
April
May
June
July
August
September
October
November
TEXTILE PRODUCTS—Continued
WOOL MANUFACTURES—Continued
Woolen and worsted woven goods, except woven
felts:
Production quarterly total
thous. of lin. yd
ADDarel fabrics total
do
Government orders
do
Other than Government orders, total. do.._
Mien's and boys'
do
Wompn's and children's
do
Unclassified
do
Blanketing
do
Other nonapparel fabrics
do
Prices, wholesale, f. o. b . mill:
Suiting, unfinished worsted, 13 oz.-dol. per yd._
Women's dress goods, flannel, 8 oz, 54-inch
dol. per yd_.
102,250
87,556
4,953
82,603
34, 420
40, 634
7, 549
5,555
9,139
115,483
99, 767
3,651
96,116
39, 711
49 130
7,275
5,990
9,726
91,921
75, 937
3,218
72, 719
33, 227
30, 344
9,148
5,704
10, 280
108, 273
91, 745
3,613
88,132
35, 269
45, 014
7,849
6,165
10,363
3.589
3.589
3.589
3.589
3.589
3.589
3.589
3.589
3.459
3.069
3.069
3.069
3.069
2.624
2.698
2.722
2.722
2.722
2.722
2.722
2.722
2.475
2.475
2.475
2.475
2. 475
1,374
1,416
3,033
2,471
1,532
1,487
1,981
1,769
284
143
228
170
MISCELLANEOUS
Fur sales by dealers
thous. of dol_.
TRANSPORTATION EQUIPMENT
AIRCRAFT
Civil aircraft, shipments S
Exports
number..
do
317
137
235
183
160
139
257
161
399
196
452
223
474
178
439
301
156
number.do
do
do
do
do
do
468, 822
545
460
364, 440
346, 999
103, 837
89, 030
824
763
378,455
360, 986
107, 702
90,667
431, 276
658
618
326, 019
312 199
104', 599
91,282
426,665
418
326
324, 547
310, 343
101, 700
88, 540
518,118
545
423
402, 402
385, 834
115,171
99, 925
543,118
514
494
436, 392
422,149
106, 212
91, 808
481, 467
564
511
394, 703
380, 489
86, 200
75, 518
593,640
632
522
493, 882
480, 009
99, 126
89,174
579, 048
439
399
483, 261
471, 752
95,348
85, 427
657, 664
444
420
557, 370
544, 630
99,850
626,180
298
274
534. 493
521, 524
91, 389
82,487
572, 917
322
275
487. 891
476, 461
84, 704
76, 584
do
do
do
do
do
do
do
do
20, 526
10, 742
9,784
3,819
3,694
2,444
1,250
125
42,476
18, 822
23,654
3,426
3,299
1,935
1,364
127
29,131
13, 536
15, 595
2,766
2,695
1,490
1,205
71
27,166
12,676
14, 490
2,296
2,181
1,095
1,086
115
31,717
15, 673
16, 044
2,634
2,510
1,254
1,256
124
30, 004
14, 598
15, 406
2,760
2,568
1,231
1,337
192
25, 094
12, 420
12,674
2,752
2,631
1,426
1,205
121
22, 648
12, 028
10, 620
2,817
2,686
1,575
1,111
131
i 24, 275
12, 993
i 11, 282
2,197
2,109
1,314
1 20, 234
10, 853
i 9,381
2,601
2,504
1,482
1,022
97
i 21,387
12, 326
i 9, 061
i 20, 067
11,216
18,851
..do
do
313,230
75, 024
311,419
70, 282
273,161
66,423
258,218
67, 537
360, 584
87,165
390, 932
78, 857
446,251
86, 375
432, 470
79, 069
448, 477
76, 866
478, 556
85, 539
459, 647
89, 253
465, 765
86, 398
9,486
7,168
6,976
2, 318
88
69
69
19
10,491
7,888
7,364
2.603
9,427
6,644
6,130
2,783
91
82
71
9
10, 800
7,906
7,421
2,894
80
75
66
5
12,626
9,674
8,958
2,952
76
74
69
2
11,184
8,896
8,499
2,288
85
85
85
0
9,532
6,886
6,879
2,646
95
95
77
0
9,148
5,832
5,805
3,316
6,645
3,866
3,655
2,779
68
68
66
0
7.184
4,251
4,245
2.933
70
70
65
0
6,201
3,996
3,936
2,205
93
93
87
0
4,537
2,833
2,828
1,704
90
90
84
0
1,755
1,755
1,757
1,761
1,763
1,770
1,771
1,769
1,767
1,766
1,765
79
4.7
90, 484
57,877
32,607
80
4.7
84,161
53,118
31, 043
5.2
81,683
51, 007
30, 676
91
5.4
73, 384
46, 403
26, 981
94
5.5
63, 410
38, 654
24. 756
5.7
53, 975
30, 850
23,125
109
6.4
45, 057
23, 816
21, 241
113
6.6
36,331
19, 368
16, 963
126
7.4
31,746
16, 474
15, 272
125
7.3
26, 599
13,473
13,126
124
7.3
20, 609
9,419
11,190
132
7.7
16,183
6,442
9,741
2,439
7.5
2,479
7.7
2,504
7.8
2,650
8.3
2,602
8.3
2,737
2,665
8.7
2,833
9.3
2. 949
2,992
10.0
3,189
10.8
60
12
1, 561
1,561
0
87
10
77
73
62
11
1,490
1,490
0
81
14
67
43
33
10
1,452
1,452
0
50
8
42
35
26
9
1,287
1,287
0
48
10
38
38
17
21
1.134
1,134
0
113
43
70
30
10
20
1, 043
1,043
0
90
7
29
10
19
1,098
1,098
0
123
69
54
25
7
18
984
984
0
73
17
56
23
6
17
873
873
0
64
12
52
21
5
16
775
775
0
80
4
76
17
2
15
816
816
0
62
25
37
237
194
43
204
184
20
270
255
15
247
214
33
199
142
57
208
179
29
205
175
30
168
133
35
202
183
19
185
168
17
254
235
19
MOTOR VEHICLES
Factory sales, total
Coaches, total
Domestic
Passenger cars, total.
Domestic
Trucks, total
Domestic
Exports, total
Passenger cars
Trucks..
Truck trailers, production, total
Complete trailers
Vans
Another
Chassis shipped as such
Registrations:
New passenger cars
New commercial cars
795
RAILWAY EQUIPMENT
American Railway Car Institute:
Shipments:
Freight cars, total
number_.
Equipment manufacturers, total
do
Domestic
do
Railroad shops, domestic
do
Passenger cars, total
do
Equipment manufacturers, total.
do
Domestic
do
Railroad shops, domestic.
do
Association of American Railroads:
Freight cars (class I), end of month:§
Number owned
thousands. _
Undergoing or awaiting classified repairs
thousands-.
Percent of total on line
Orders, unfilled
number..
E quipment manufacturers
do
Railroad shops
do
Locomotives (class I), end of month:
Steam, undergoing or awaiting classified repairs
number. .
Percent of total on line
Orders, unfilled:
Steam locomotives, total
number.E quipment manufacturers
do
Railroad shops....
do
Other locomotives, total
do
Equipment manufacturers
do
Railroad shops
do
Exports of locomotives, total
do
Steam
do
Other
do....
INDUSTRIAL ELECTRIC TRUCKS AND
TRACTORS
Shipments, total
Domestic
Export
numberdo—
do.-_
r
1
Revised.
Data beginning May 1949 for aircraft exports, and beginning July 1949 for truck exports and total motor-vehicle exports are not comparable with earlier figures; see note " 1 " for p. S-21.
cf Publication of data for military shipments and the total, previously shown here, has been discontinued by the Civil Aeronautics Administration.
§ Not including railroad-owned private refrigerator cars.
a. S. GOVERNMENT PRINTING OFFICE: 1950
-INDEX TO MONTHLY. BUSINESS STATISTICS, Pages S1-S40Pages marked S
38
Abrasive paper and cloth (coated)
24
Acids
7
Advertising
2
Agricultural income and marketings
15
Agricultural wages, loans
22
Airline
Air
operations
p
A
Aircraft
i f
11,12,14,40
Alcohol, denatured and ethyl
24
Alcoholic beverages___
2,27
Aluminum
33
Animal fats, greases
25
Anthracite
2,5,10,12,14,15,34
Apparel, wearing
5, 7, 8; 9,11,12,14,15,38
Armed forces
10
Asphalt and asphalt products
36
Automobiles
2,3,7,8,9,11,12,14,18,21
Balance of payments
20
Banking
15,16
Barley
28
Barrels and drums
32
Battery shipments
34
Beef and vea!
29
Beverages, alcoholic
2, 27
Bituminous coal
2,5,10,12,14,15,34,35
Boilers
33,34
Bonds, issues, prices, sales, yields
19
Book publication
37
Brass
.
33
Brick
5,38
Brokers' loans
16,19
Building contracts awarded
6
Building costs
6,7
Building construction (see Construction).
Building materials, prices, retail trade
5, 7, S, 9
Business, orders, sales, inventories
3
Businesses operating and business turn-over__
4
Butter
27
Candy
29
Cans, metal
33
Capital flotations
18,19
Carloadings
22,23
Cattle and calves
29
Cement
2,5,38
Cereal and bakery products, price
5
Chain-store sales
9
Cheese
27
Chemicals
2,3,5,11,12,14,15,18,21,24
Cigars and cigarettes
30
Civil-service employees
12
Clay products (see also Stone, clay, etc.)
2,38
Clothing
5,8,9,11,12,14,15,38
Coal
2,5,11,12,14,15,34,35
Cocoa
_
29
CoffeeI"_I
22,29
Coke
2,35
Commercial and industrial failures
4
Construction:
New construction, dollar value
6
Contracts awarded
6
Costs
6,7
Dwelling units started
6
Highway
6,12
Employment, wage rates, earnings, hours. _
10,
11,12,13,14,15
Consumer credit
16
Consumer expenditures
1,8
Consumers' price index
5
Copper
21,33
Copra and coconut oil
25
Corn
7 - 19,28
Cost-of-living index (see Consumers' price
index)
5
Cotton, raw, and manufactures
2,
4,5,11,12,13,14,21,38,39
Cottonseed, cake and meal, oil
25
Crops
2,4,25,28,30
Currency in circulation
18
Dairy products
Debits, bank
Debt, short-term, consumer
Debt, United States Government
Department stores
Deposits, bank
Disputes, industrial
Distilled spirits
Dividend payments and rates
Drug store sales
Dwelling units started
.
2,4,5,27
15
16
17
8,9,10,16
15,16,18
13
27
1,18,20
8,9
6
Earnings, weekly and hourly
13,14,15
Eggs and poultry
2,4,29
Electrical equipment
3,4, 7,34
Electric power, production, sales, revenues
26
Employment estimates
10,11,12
Employment indexes
11
Employment security operations
_
13
Emigration and immigration
23
Engineering construction
6
Expenditures, United States Government
16
Explosives
24
Exports (see also individual commodities)
21
Express operations
22
Factory, employment, pay rolls, hours, wages...
10,
11,12,13,14,15
Failures, industrial and commercial
4
Farm income and marketings
2
Farm wages
15
Farm products, and farm prices
2,4
Fats and oils
5,25,26
Federal Government,
finance
16,17
Federal Reserve banks, condition of
15,16
Federal Reserve reporting member banks____ 15,16
Fertilizers
__. 5,24
Fiber products
34
Pages marked S
7
25,29
25
31,32
28
2,3,
4,5,7,8,9,11,12,13,14,27,28,29,30
Footwear
2,5,8,9,11,12,14,31
Foreclosures, real estate
7
Foreign trade, indexes, shipping weight, value
by regions, countries, economic classes, and
commodity groups
21,22
Foundry equipment
34
Freight cars (equipment)
40
Freight carloadings, cars, indexes
22, 23
Freight-car surplus and shortage
23
Fruits and vegetables
2,4, 5, 21, 27
Fuel equipment and heating apparatus
33,34
Fuel oil
__
35
Fuels
___ _ _
_ 2,5,35
Fur
22,40
Furnaces
__
34
Furniture
2,5,7,8,9,11,12,13,14
Gas, customers, sales, revenues
26
Gasoline
36
Glass and glassware (see also Stone, clay, etc.)_ 2,38
Generators and motors
34
Glycerin
24
Gold
18
Grains
4,19,21,28
Gross national product
1
Gyp sum
38
Heating and ventilating equipment
33,34
Hides and skins
5, 22,30
Highways
.. 6,7
Hogs
29
Home-loan banks, loans outstanding
7
Home mortgages
7
Hosiery
5,38
Hotels
11,13, 15,23
Hours of work per week
12,13
Housefurnishings
5, 7,8,9
Housing
5,6
Immigration and emigration
23
Imports (see also individual commodities)
21, 22
Income, personal
1
Income-tax receipts
16
Incorporations, business, new
4
Industrial production indexes
2,3
Instalment loans
16
Instalment sales, department stores
9
Insulating materials
34
Insurance, life
17,18
Interest and money rates
16
International transactions of the U. S
20, 21, 22
Inventories, manufacturers' and trade
3,9,10
Iron and steel, crude and manufactures
2,3,
4,5,11,12,13,14,21,32,33
Kerosene
„..
35
Labor force
10
13
Labor disDutes, turn-over _
Lamb and mutton
29
29
Lard_
Lead.
33
Leather and products
2,3,5,11,12,14,30,31
Linseed oil,
25
Livestock
2,4,29
Loans, real estate, agricultural, bank, brokers'
(see also Consumer credit)
7,15,17,19
Locomotives
40
Looms, woolen, activity
39
Lubricants
35
Lumber
2,5,11,12,14,31,32
Machine activity, cotton, wool
39
Machine tools
34
Machinery
2,3,4,11,12,14,18,21,34
Magazine advertising
7
Mail-order houses, sales
10
Manufacturers' sales, inventories, orders
3,4
Manufacturing production indexes
2,3
Meats and meat packing
2,4,5,11,12,13,14, 29
Metals
'2,3,4,5,10,11,12,13,14,18,32,33
Methanol
24
Milk
27
Minerals
2,3,12,14,15
Money supply
18
Mortgage loans
7,15
Motor fuel
36
Motor vehicles
8,40
Motors, electrical
34
National income and product
1
Newspaper advertising
7
Newsprint
22,37
New York Stock Exchange
19,20
Oats
28
Oil burners
34
Oils and fats
5, 25, 26
Oleomargarine
26
Operating businesses and business turn-over.. _
4
Orders, new, manufacturers'
4
Fire losses
Fish oils and
Flaxseed
Flooring
Flour, wheat
Food products
fish
Paint and paint materials
5,26
Paper and pulp
2,3,5,11,12,14,36,37
Paper products
36,37
Passports issued
23
Pay rolls, indexes
12
Personal consumption expenditures
8
Personal income
1
Personal savings and disposable income
._
1
Petroleum and products
2,3,
5,10,11,12,14,15,21, 22,34,35,36
Pig iron
32
Pages marked S
Plant and equipment expenditures
1
Plastics and resin materials, synthetic
26
Plywood
31
Population
__
10
Pork
29
Postal business. _
8
Postal savings
16
Poultry and eggs
2,4, 5, 29
Prices (see also individual commodities):
Consumers' price index
5
Received and paid by farmers
4
Retail price indexes
5
Wholesale price indexes
5
Printing
2,3,11,12,15,37
Profits, corporation
__
18
Public utilities___ 1,5,10,11,13,14, 15,17,18,19, 20
Pullman Company
23
Pulpwood
36
Pumps
34
Purchasing power of the dollar
5
Radio advertising
7
Railways, operations, equipment, financial statistics, employment, wages
_
1,
11,12,13,14,15,17,18,19, 20, 22, 23,40
Railways, street. (See Street railways, etc.)
Rayon, and rayon manufactures
2,5,39
Real estate
7
Receipts, United States Government
16
Reconstruction Finance Corporation, loans
17
Refri gerators
34
Rents (housing), index
5
Retail trade, all retail stores, chain stores, department stores, mail order, rural sales, general merchandise
3,4, 8, 9,10
Rice
28
Roofing and siding, asphalt
36
Rosin and turpentine
24
Rubber, natural, synthetic, and reclaimed,
tires and tubes
22,37
Rubber industry, production index, sales, inventories, employment, pay rolls, hours,
earnings
2,3,11,12,14,15
Rye
28
Savings deposits
16
Savings, personal
1
Securities issued
18,19
Service industries, employment
11
Sewer pipe, clay
38
Sheep and lambs
29
Shipbuilding
11,13,14
Shoes
2,5,8,9,11,12,14,31
Shortenings
26
Silk, imports, prices
5, 22,39
Silver
18
Skins
5,22,30
Slaughtering and meat packing
2,
11,12,13,14,29
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)
10
Stocks, dividends, issues, prices, sales, yields..
20
Stokers, mechanical
34
Stone, clay, and glass products._.
2,
11,12,13,14,38
Stoves
34
Street railways and buses
13,14,15, 22
Sugar
22,30
Sulfur
24
Sulfuric acid
24
Superphosphate
24
Tea
30
Telephone, telegraph, cable, and radio-telegraph carriers
10,13,14,15,23
Textiles
2,3, 5,11,12,13,14, 21,38,39,40
Tile
38
Tin
22,33
Tires and inner tubes
5, 11, 12, 14,15,37
Tobacco
2,3,4,7,11,12,13,14,30
Tools, machine
34
Trade, retail and wholesale.- 3,4, 8, 9,10,11,13,14,15
Transit lines, local
15,22
Transportation, commodity and passenger
22, 23
Transportation equipment
2, 3, 4,11,12,13,14, 40
Travel
23
Truck trailers
40
Trucks
40
Turpentine and rosin
24
Unemployment and unemplovment compensation
_"
10,13
United States Government bonds
17,18,19
United States Government,
finance
_
16, 17
Utilities
1,5,10,11,13,14,15,17,18,19, 20
Vacuum cleaners
34
Variety stores
__
8,9
Vegetable oils
25,26
Vegetables and fruits
2,5,21,27
Vessels cleared in foreign trade
23
Veterans' unemployment allowances
13
Wages, factory and miscellaneous
Washers
Water heaters
Wax
Wheat and wheat
flour
Wholesale price indexes
Wholesale trade
Wood pulp
Wool and wool manufactures
Zinc.
13,14,15
34
34
36
19, 28
5
10
36
2,5,22,39,40
33
Price 55 cents
Available from the
Superintendent of Documents,
Government Printing Office,
Washington 25, D. C , or
the nearest Department of
Commerce Field Office.
ZJne (/balance of international
f^a^mentd of the lAnited ^tate57 f 946-48
The position of the United States in the world economy since the cessation of hostilities is here revealed
within the framework of the balance of international payments.
As the official economic record of our
international transactions this basic volume points up the problems which arose from unsettled conditions
in international economic relations and the attempts made during that period to find a solution for them.
Here is the comprehensive record of what the United
States has contributed to and received from other countries
during three crucial years of the postwar era. Coverage includes current account transactions . . . the exchange of
goods and services . . . merchandise trade . . . transportation . . . foreign travel . . . Government and private
services . . . income on investments . . . private and
Government aid . . . private loans and investments . . .
liquidation of foreign capital and gold . . . international
investment position of the United States . . . the transactions broken down by major foreign areas.
Illustrated with charts and containing summary statistical
tables, this publication is a valuable source of information
for all who wish to know of the size and scope of United
States international aid and related programs designed for
the improvement of world economic conditions.
As part of the continuing series of publications on the
international transactions of the United States this bulletin
together with International Transactions of the United States
During the War, 1940-45 (price 60 cents) and The United
States in the World Economy (reprint price 55 cents)
presents the historical record of United States participation
in world trade since the First World War.
UNITED STATES DEPARTMENT OF COMMERCE • OFFICE OF BUSINESS ECONOMICS
@FedFRASER