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JULY 1946
SURVEY OF
CURRENT
BUSINE
UNITED STATES DEPARTMENT OF COMMERCE
BUREAU OF FOREIGN AND DOMESTIC COMMERCE
Survey of
CURRENT
BUSINESS
VOLUME 26, No. 7
JULY 1946
/"Statutory Functions: "The Bureau of Foreign and Domestic Commerce • • *\
I to foster, promote, and develop the foreign and domestic commerce of j
\the United States" [Law creating the Bureau Aug. 23, 1912 [37 Stat. 408].] J
Contents
Page
THE BUSINESS SITUATION
Transition to Peacetime Production
Savings of Individuals • . •
THE PROSPECTIVE LABOR SUPPLY
1
3
9
,
12
INTERNATIONAL TRANSACTIONS OF THE U. S. DURING
FIRST QUARTER 1946
STATISTICAL DATA:
New or Revised Series
Monthly Business Statistics
General Index
16
22
. S-l
Inside back cover
| 1 i Ot€3—Contents of this publication are not copyrighted and I
\ may be reprinted freely. Mention of source will be appreciated f
Published by the Department of Commerce, HENRY A. WALLACE, Secretary.—Bureau of
Foreign and Domestic Commerce, AMOS E. TAYLOR, Director. Subscription price $2 a
year; Foreign $2.75. Single copies, 20 cents. Price of the 1942 supplement, the last issue,
50 cents. Make remittances direct to the Superintendent of Documents, United States
Government Printing Office, Washington 25, D. C.
THE BUSINESS SITUATION
By the Office of Business Economics
The Month in Review
The performance of the economy
in June gave further evidence that
the postwar decline in national production had bottomed out and that
output, employment, and income
were again moving upward. A critical phase of the postwar transition,
involving major adjustments for industry and for labor, has now been
brought to a close.
As the transition entered an advanced stage, the economic spotlight
was turned on price developments.
The consumers' price index, which
had been increasing at a rate of
one-half of 1 percent a month since
March, rose at a faster rate in June.
As was expected, many prices registered large gains immediately following the expiration of the price
control law at the end of the month.
Preliminary figures place the value
of retail sales in June (after seasonal
adjustment) at a new high. Part of
the May-to-June buying spurt reflected further advances in prices,
but physical quantities also increased. Shipments of consumer
durable goods, in particular, have
been greater.
For the fourth consecutive month,
construction activity showed a gain
of approximately 100 million dollars.
The recent increases have been
paced by residential building.
Output of steel, coal, and other
basic materials recovered sharply
during the month and, at the present
high rate of operation, supplies of
these materials will support a considerably enlarged volume of finished goods production.
HE FURTHER ADVANCE in industrial output in June stemmed largely
T
from the resumption of bituminous coal
production. In the previous month the
forward movement under way in the reconversion industries had been slowed
696891—46
by the coal shortage and the forced
shut-down of many blast furnaces.
With the resolving of major wage disputes, production delays resulting from
work stoppages have now fallen to a
postwar low. This development has not
caused a sudden spurt in over-all economic activity, however, since, with
the exception of the effect of the coal
stoppage on steel operations, the secondary effects of the earlier disputes
never reached major proportions. On
the whole, production and shipments
in manufacturing have been well maintained throughout the first half of the
year.
Uncertainty Regarding Price Control
While further progress was being made
toward full peacetime production, consumers and businesses were faced with
considerable uncertainty regarding the
fate of price control and, consequently,
future prices. That substantially higher
prices were in the offing seemed assured regardless of the details of any
act which would reimpose the controls
that expired as of midnight, June 30.
But much uncertainty remained as to
the probable extent and rate of future
price increases of individual commodities and services.
The experience during the period
when the price lid was off was not a
true test, price-wise, because markets
were not wholly free of the prospect of
the reimposition of ceilings and a rollback to June 30 prices. This factor
obviously had a restraining influence on
many buyers and also strengthened the
efforts of the business community to institute voluntary controls pending clarification of the price situation.
9-Percent Rise in 3 Days
Nevertheless, the price rises were sharp
and the Bureau of Labor Statistics
price index of 28 basic commodities advanced 9 percent in the first 3 days of
July.
The behavior of hog prices during the
first week when the price lid was off afforded an interesting example of the
operation of market forces. In the first
day without ceilings, prices at Chicago
jumped to $18.50 a hundredweight—
$3.65 above the old ceiling of $14.85. By
the end of the week, however, the onrush of sellers—who had been holding
out for higher prices—to market their
animals sent the price back to $16. This
decline had all the earmarks of a temporary reaction, since hog receipts could
not be expected to continue for an extended period at the record volume
reached at the end of the week.
Chart 1.- -New Construction
Activity
MILLIONS OF DOLLARS
400
RESIDENTIAL
/
(PUBLIC a PRIVATE) /
^
/
300
11/
ALL
THER
J
/
200
INDUSTRIAL AND
COMMERCIAL - .
(PRIVATE)
—
/
100
0
.
.
,
i
.
1 1 .
1945
1
1
1
I
1 .
1 1 1 1 1
1946
>
D. 0.46-457
Sources of data: Joint estimates of the U. S.
Departments of Commerce and Labor.
Near-Capacity Rate Restored in Steel
Steel operations rebounded sharply to
near-capacity rates following the resumption of bituminous coal production,
but June output was still considerably below this year's peak reached in March.
Aggregate production of steel ingots in
the first half of 1946 was approximately
27 million short tons, compared with 43
million tons in the first 6 months of last
year when operations were maintained
close to the peak war levels.
Emergency Distribution Plan for Steel
Because the steel industry has made no
headway in working off its large backlog
SURVEY OF CURRENT BUSINESS
of unfilled orders, the danger of delay in
the manufacture of certain critical products has increased. To cope with this
situation, the Civilian Production Administration in June announced a new program to assist manufacturers of 15
classes of farm machinery and 5 types
of building products to acquire needed
steel during the third quarter of this
year. These products are urgently needed
for the 1946 harvest and for famine relief, or are essential for the veterans*
housing program.
Under the CPA directive, manufacturers of the products specified as
critical are instructed to place certified
orders with steel mills or warehouses.
These orders must be given preference
for production and delivery.
The quantity of finished steel to be allocated under the emergency distribution
system is not large. It is estimated at
300,000 tons, or only about 2 percent of
estimated total production in the third
quarter, assuming the continuance of
full-scale operations. Thus, most users
of steel will be in the same position as
they were in the past.
The total supply of steel is expected to
increase in coming months, but requirements will also be larger as the heavy industries get into full production. Therefore, a well-balanced distribution of the
available supply will be necessary to keep
fabricators in continuous operation.
Progress in Construction
Construction of all types has been
making substantial progress in the past
few months, as is clearly shown in chart
1. Total new construction has increased
by about 100 million dollars per month
since February. Preliminary estimates
for the value of total new construction
put in place in June are stated at 920
million dollars compared with 830 million dollars in May.
Nonfarm residential construction, including public and private, increased
from 313 million dollars in May to 344
million dollars in June. Seasonal advances may account for further gains in
the summer and fall months, but a decline in the rate of increase may be anticipated as the volume of construction
approaches capacity of the industry.
Residential construction continues to
be one of the most active components of
construction. Latest estimates for the
second quarter indicate that 909 million
dollars worth of nonfarm private residential construction was put in place,
an increase of more than 80 percent
over the volume for the first quarter of
the year.
In the private commercial and industrial category—which includes stores,
restaurants, garages, theaters, warehouses, factories, offices, and loft build
July 1946
Chart 2.—Gross National Product, by Major Components
BILLIONS OF DOLLARS
250
BILLIONS OF DOLLARS
250
QUARTERLY TOTALS, SEASONALLY ADJUSTED,
AT ANNUAL RATE
ANNUAL TOTALS
200
200
GOVERNMENT EXPENDITURES
(GOODS AND SERVICES)
150
150
IOO
100
EXPENDITURES
(GOODS AND SERVICES)
50
1939
1940 1941 1942 1943 1944 1st
^
2nd
3rd
4th
1945-
2nd
3rd
-1946-1/
a 0. 46-450
1
Data for the second quarter of 1946 are preliminary estimates.
Source of data: U. S. Department of Commerce.
ings—the volume of construction has advanced at a constant rate of about 10
percent a month since January. The increases occurred despite efforts to give
preference to veterans' housing and the
introduction of a limitation order (VHP1) in March which requires official authorization before most types of building
may proceed.
The uptrend in "all other" construction (see chart) since February resulted
from substantial increases in war-deferred highway and conservation and
development work, public-utility expenditures, farm construction, and private
institutional building (hospitals, churches, community buildings, etc.).
Limitations on Nonresidential Projects
The Civilian Production Administration at the end of May took action to
insure that approvals for deferrable and
less essential nonresidential construction
should be reduced. This was done to
bring construction authorizations into
balance with the supply of building materials. For a 45-day period beginning
June 1, 1946, CPA field offices were ordered to reduce their dollar value of
authorizations by two-thirds under the
2-week base period ending May 23. The
criteria for approval by the CPA are that
individual or community hardship must
be clearly established and must be substantial.
As further insurance against authorizing construction in volume exceeding the
available supply of materials, the National Housing Agency has slowed down
the issuance of "HH" priorities for new
residential construction. A total of 559,000 accommodations had been authorized
by June 14, 1946, compared with 531,000
on May 31.
Premium Payment Plan
The premium payment plan for building materials, which was authorized under the Patman Bill enacted on May 22,
has already been put into effect for brick,
structural clay products, plywood, and
merchant gypsum liner. In the case of
brick, payment of $5 for each thousand
standard brick equivalents produced in
excess of established quotas will be made
to operators of individual plants to offset some of the costs encountered by producers in reopening their plants or expanding production. A premium amounting to $40 per ton will be paid for production up to 105 percent of quotas assigned to manufacturers of merchant
liner, i. e., paperboard manufacturers not
owned or controlled by gypsum board
producers.
Under the plans for increasing the
production of plywood, manufacturers of
this product are permitted to pay their
log suppliers a premium of $7.50 per
thousand feet logscale for peeler logs
delivered between June 1, 1946, and
March 31, 1947. To receive reimbursement in full for the premiums paid to the
log suppliers, the plywood manufacturers
July 1946
will have to expand their production at
least 25 percent above their quota, which
in general is their output during the first
quarter of 1946. Only partial recovery
of the premium paid for logs will be possible if production exceeds the quota
by less than 25 percent, because plywood
manufacturers will receive reimbursement at the rate of 30 cents per thousand
feet logscale for each 1 percent of production above their quota.
SUEVEY OF CURRENT BUSINESS
Premium payment plans for other materials are now being studied. The
method to be used to stimulate the production of gypsum liner, which has been
a bottleneck in output of gypsum lath
and gypsum wallboard, will be announced
soon. Incentive plans to provide for increased production of gypsum board at
rates approximating the present capacity
of the industry are also near completion.
With few exceptions, production of
building materials was already definitely
on the upgrade in April, which was, of
course, before premium payment plans
were put into operation. These plans
plus substantial price increases granted
by the Office of Price Administration in
April, May, and June, would seem to have
removed many of the price and profit
obstacles to full production.
Transition to Peacetime Production, Second Quarter 1946
In taking stock of the economy as of
midyear, these facts stand out: (1)
The aggregate volume of goods and services flowing to consumers and to businesses for capital formation has increased
since the war's end, not only in dollar
terms but also in real terms, but this
gain has not been sufficient to compensate for the decline in war production;
(2) the flow of most goods from reconverted war plants is still considerably below capacity, although the major production hurdles are now out of the way
and output is rising at a good pace; and
(3) the upward pressure on prices is
still strong and is being reflected in a
stepped-up rate of price increases.
Preliminary results for the second
quarter of 1946 show the following declines from data for the comparable quarter of last year: Gross national product,
down l i percent; manufacturers' shipments, down 23 percent; and industrial
production (Federal Reserve index),
down 27 percent. Income payments to
individuals were only fractionally below
a year ago.
Yet not all of the economic comparisons of this year with last reflect decreases. Retail sales for the second
quarter, for example, were almost onethird higher than they were a year ago.
Postwar Decline Has Been Halted
The gross national product for the
quarter just ended is estimated at a
seasonally adjusted annual rate of approximately 185 billion dollars, as compared with a rate of 181 billion dollars
in the preceding quarter and 208 billion
dollars in the second quarter of last
year, when the all-time high rate was
reached. Quarterly estimates of the
gross national product and its major
components for the period since the beginning of 1945 are presented in table 1.
Data for the most recent period are still
Digitized
FRASER
veryforpreliminary,
of course.
The first half of 1946 can be characterized as a period of near stability
in over-all production, with concurrent shifts in the relative shares of
government, business, and consumers in total production. At a seasonally adjusted annual rate of 185
billion dollars, the gross national
product in the second quarter was
slightly higher than in the initial
quarter of the year, the increase being a reflection of continued price
advances.
This year's
first-to-second-quarter
gain in gross national product reflects
further advances in prices. The quarterly change in the total is significant
chiefly because it indicates that the postwar decline in national production has
been halted. The performance of the
economy in June, described in the first
section of this review, suggests that the
upturn was definitely under way by the
middle of the year.
The reversal of the major decline in
activity which set in with the wholesale
cancellation of war contracts last August
and September has not been sudden or
sharp. Rather, it has come about gradually as Federal expenditures were shaken
down to more nearly a peacetime basis
and as the expanding segments of the
economy slowly emerged as the dominating influence.
Changes Held Within Narrow Range
As shown in chart 2, the changes in
the annual rate of gross national product
(after adjustment for seasonal factors)
since the end of last year have been within a very narrow range—from 185 billion
dollars in the fourth quarter of 1945 to
just under 181 billion in the first quarter
of 1946 and back to 185 billion in the
second quarter. This is a range of less
than 3 percent.
At the same time, the major components of gross national product have
shown much larger changes. Government expenditures for goods and services, for example, declined from 57 to 38
billion dollars (annual rates) between
the last quarter of 1945 and the second
quarter of this year. On the other hand,
the rate of capital formation spurted
from 15 to 25 billion dollars, and consumer purchases of goods and services
rose from 113 to 122 billion dollars.
Compensating Shifts in Relative Shares
While the preceding figures are still
tentative, they throw light upon the
compensating nature of the broad economic changes during the first half of the
year. This period can be characterized
as being of near stability in over-all production, with concurrent shifts of major
proportions in the relative shares of
Government, business, and consumers.
The extent to which the reductions in
Government expenditures for goods and
services have been offset by accelerated
private spending for capital formation
and for consumer goods and services is
illustrated in chart 3. In the third and
fourth quarters of last year the offsets
in the form of larger private expenditures
fell far short of the reduction in the Government sector. Thus, the gross national
product declined.
The bars representing the increasing
and decreasing segments in the chart
moved considerably closer together in
the first quarter of 1946, although the
balance was still in favor of declining
Government expenditures. By the second quarter, however, the decreases in
Government were outweighed by the increases elsewhere in the economy. As a
result, the downtrend in gross national
product was reversed.
SURVEY OF CURRENT BUSINESS
Chart 3.—Offsets to Declining Government Expenditures
BILLIONS OF DOLLARS
25
GROSS CAPITAL
I FORMATION
CONSUMER
EXPENDITURES
DECREASE IN
GOVERNMENT
EXPENDITURE'S
20
INCREASE IN
PRIVATE
EXPENDITURES
15
10
3 rd Qr.
4 t h Qr.
I st Qr.
2nd Qr.
1945
1945
1946
1946^
CHANGE FROM PRECEDING QUARTER
D.D. 46-451
1
Preliminary estimates.
2
Seasonally adjusted, change, at annual rate.
Source of data: U. S. Department of Commerce.
Little Left of War Economy
The quarterly changes plotted in chart
3 also demonstrate that the war economy had been rather fully liquidated by
the second quarter of this year. In contrast to quarterly reductions in Government expenditures ranging between 16
and 23 billion dollars (at annual rates)
in each of the three preceding quarters,
the decrease in the April-June quarter
was only at the rate of about 3 billion
dollars. The drop in military pay alone
could account for practically all of this
cut. Clearly, by the second quarter of
this year, declining Government spending no longer constituted a major downward pressure on over-all production.
Further Gains in Consumer Expenditures
Not only did the decline in Government
outlays slacken appreciably in the second
quarter, but consumer purchases of goods
and services were apparently a less dynamic element than in previous 3-month
periods. The first-to-second-quarter
gain in consumer spending is estimated
at an annual rate of about 2 billion dollars (after seasonal adjustment), compared with quarterly gains of approximately 7 billion dollars in the fourth
quarter of 1945 and the first quarter of
1946. However, as the problem of correcting consumer expenditures for sea
sonal factors is extremely difficult for
the first and second quarters of this year,
only limited significance can be attached
to the smaller rate of increase in the second quarter.
There are as yet no firm indications
of a slackening in consumer spending.
July 1946
In fact, on the basis of preliminary information, the seasonally adjusted index
of retail sales reached an all-time high
in June.
Income-Spending Relationship
Previous analyses of consumer-spending relationships appearing in the SURVEY (for example, see February 1946 issue, page 5) suggest that since the end
of the war the rate of consumer spending for nondurables has been above prewar relationships with the disposable income of consumers. The changes that
occurred in the most recent quarter were
slightly in the direction of restoring the
old relationships, since spending on nondurables was practically unchanged while
disposable income was a little higher.
Spending for durable goods, of course,
has continued below earlier relationships,
since passenger cars, refrigerators, and
other important durable goods have not
been generally available.
Construction: Rapidly Expanding Sector
Expenditures for construction were
the most dynamic element in the secondquarter picture. The rise in these outlays accounted for one-half of the increase in gross private capital formation
during the quarter. Changes in construction activity were described in the
introductory section of this review.
Part of the gain in construction activity is reflected in an increase in plant
and equipment expenditures, as revealed
by the quarterly survey conducted jointly by the Department of Commerce and
the Securities and Exchange Commission. Outlays by nonagricultural business for plant and equipment expenditures in the second quarter were recent-
Table 1.—Gross National Product or Expenditure: Seasonally Adjusted at Annual Rate
[Billions of dollars]
1946
1945
Item
First
quarter
Second
quarter
Third
quarter
Fourth
quarter
First
quarter
Second
quarter
Gross national product or expenditure
_ _
205.1
208.2
198.2
185.2
180.6
185.0
Government expenditures for goods and
services
Federal war
Federal nonwar
State and local
96.5
82.9
5.8
7.8
99.8
85.7
6.3
7.8
81.0
66.4
6.6
7.9
57.2
42.6
6.7
8.0
41.1
25.7
7.1
8.3
38.0
22.0
7.5
8.5
Private gross capital formation. ._ . „
Residential construction..
Other construction
Producers' durable equipment 2_. __ ,_.
Other
_
3.6
.3
1.5
5.2
-3.4
6.6
.5
1.8
6.1
-1.6
11.2
.9
2.0
6.7
1.7
15.0
1.4
2.3
8.3
3.2
19.2
2.0
3.3
8.4
5.4
25.0
3.5
4.7
9.3
7.5
Consumers' goods and services..
Durable goods. __ _ _
Nondurable
goods
Services 3 _____
105.0
7.4
65.0
32.6
101.8
7.1
61.5
33.2
106.0
7.4
65.1
33.5
113.0
9.0
70.6
33.3
120.2
10.7
75.6
34.0
122.0
12.0
75.5
34 5
1
Figures for 1945 are revisions of those published on page 7 of the SURVEY for February 1946. Data for the first quarter
of 1946 arc subject to further revision and those for the second quarter are tentative. Figures will not necessarily add to
totals
because of rounding.
2
Figures are based on new sources and are not precisely comparable to prior years.
3
Includes expenditures of military personnel abroad, in billions of dollars, as follows: 1945—0.9, 1.2, 1.0, 0.5; 1946—0.8,
0.8.
Source: U. S. Department of Commerce.
SURVEY OF CURRENT BUSINESS
July 1946
ly estimated at an annual rate of between
9 and 10 billion dollars. This may be
compared with actual expenditures
equaling about one-half of that amount
in the second quarter of last year and
with expenditures of 8.3 billion dollars
in the peak year 1941. Of course, the
comparison with 1941 does not take into
account the sharp increase in prices since
that year.
Summary of Second Quarter Picture
How preliminary estimates of the gross
national product for the second quarter
of this year compare with the peak
reached in the second quarter of 1945
is illustrated in chart 4 and summarized
below (in billions of dollars at seasonally
adjusted annual rates):
Item
Government expenditures
for goods and services. _.
Private gross capital formation
Consumer expenditures
for goods and services
Gross national product
Second
quarter 1946
Change from
second quar1945
38
-62
25
122
+18
+20
185
-23
Income Payments Relatively High
Income payments to individuals were
moderately reduced after the end of the
war but part of this decline was recovered
in the most recent quarter. In terms
of seasonally adjusted annual rates, the
change in income payments has been
Chart 4.—Composition of Gross
National Product
BILLIONS OF DOLLARS
250
200
GOVERNMENT
EXPENDITURES
(GOODS AND SERVICES)
150 PRIVATE GROSS
CAPITAL FORMATION
100
-
CONSUMER
EXPENDITURES
50
-
(GOODS AND SERVICES)
D. D. 46-463
2nd Qr. 1946.^
SEASONALLY ADJUSTED,
AT ANNUAL RATE
1
Preliminary estimates.
Source of data: TJ. S. Department of Commerce.
Table 2.—Income Payments and Disposition of Income: Seasonally Adjusted at
Annual Rate1
[Billions of dollars]
1946
1945
Item
First
quarter
Second
quarter
Third
quarter
Fourth
quarter
First
quarter
98.8
Second
quarter
103.6
Wages and salaries, total- __ _ _
Military
Civilian
Transfer payments _. _
Net income of proprietors
Other income payments
115.0
16.5
98.5
5.9
26.3
16.4
113.9
17.0
96.8
6.7
25.8
16.9
108.8
17.2
91.6
7.7
25.1
17.0
101.6
14.1
87.4
12.0
26.0
17.4
8.8
5.8
90.0
12.6
27.6
17.7
97.8
11.8
27.5
18.1
Total income payments to individualsLess: Personal taxes and nontax payments
Equals: Disposable income of individuals
Less: Consumer expenditures_._
Equals: Net savings of individuals
163.7
163.2
158.6
156.9
156.7
161.0
22.1
141.6
105.0
36.6
21.7
141.5
101.8
39.7
20.7
137.9
106.0
31.9
20.1
136.9
113.0
23.9
18.7
138.0
120.2
17.8
19.0
142.0
122.0
20.0
1
Consumer expenditures and net savings of individuals for 1945 are revisions of estimates published on page 7 of
the SURVEY for February 1946. Data for the first quarter of 1946 are subject to further revision, and those for the
second quarter are tentative. Figures will not necessarily add to totals_because of rounding.
Source: TJ. S. Department of Commerce.
from $163 billion in the second quarter
of 1945 to $157 billion in the final quarter of last year and the first quarter of
this year. The rate of payments rose to
$161 billion in the second quarter.
The major factors sustaining income
payments relative to the gross national
product have been the rise in "transfer
payments"—chiefly veterans' benefits of
all types and unemployment compensation payments—and the reduction in corporate taxes. The tax reduction helped
to sustain the level of dividend payments
despite substantially lower corporate
profits before taxes.
Within total income payments, as
within gross national product, there has
been considerable shifting about of the
components. This is illustrated in the
three panels of chart 5. Detailed data
for income payments are presented in
table 2.
Military Pay Down, Veteran Benefits Up
The sharp reductions in Government
expenditures had their main impact on
two components of income payments—
military pay (which is combined with
allowances to dependents in the chart)
and pay rolls in heavy manufacturing industries. The declines in these segments
are shown in the chart.
On the other hand, some important
components of income payments expanded sharply following the end of the war.
Payments to veterans (including pensions, mustering-out payments, readjustment allowances, and some other
minor items) rose from less than 100 million dollars a month before VE-day to a
peak in excess of 600 million dollars a
month in the first quarter of this year.
This component is now decreasing, chiefly because of the reduced rate of military discharges and the accompanying
decline in mustering-out payments.
Payments by trade establishments (including pay rolls and net income of
proprietors), in line with the expansion
in retail sales, also rose appreciably following the war's end. (See bottom panel
of chart.) At approximately 2 billion
dollars in May, these payments were
about 30 percent above those of a year
ago.
Wages in nondurable manufacturing
industries have been one of the more
stable components of total income payments, although they have been rising
slowly but steadily since last October. In
May of this year, the volume of such
wages was almost one-tenth higher than
that of a year ago.
Current Savings Cut
The disposition, as well as the sources,
of income has undergone considerable
change during the postwar transition.
The nature of this change is brought
out in chart 6.
The upsurge in consumer spending
which followed the end of the war made
sharp inroads on the rate of saving out
of current income. As already noted,
total income payments to individuals in
the second quarter of this year were
only slightly below payments in AprilJune of 1945. Consumer expenditures,
on the other hand, were up approximately 20 percent.
The small decline in total income
payments was approximately offset by
the reduction in taxes on individual incomes, so that the disposable income of
individuals was approximately the same
in the two periods. Hence, the substantial rise in consumer spending, occurred
at the expense of a 50-percent reduction
in the current rate of savings. The
estimated figures are as follows (in billions of dollars at seasonally adjusted
annual rates):
SURVEY OF CURRENT BUSINESS
6
from
Second quar- Change
second quarter 1946
ter 1945
Item
Total income payments to
individuals
Personal taxes and nontax
payments...
Consumer expenditures
for goods and services...
Net savings of individuals.
161
2
19
-2H
122
20
+20
-19H
All of the reduction in the net current savings of individuals took place
between the second quarter of 1945 and
the first quarter of 1946. There was a
small increase in the savings rate in
the quarter just ended. A detailed disChart 5.—Income Payments to
Individuals, by Selected Components
BILLIONS OF DOLLARS
14.0
TOTAL INCOME
PAYMENTSJ/
13.5
13.0
12.5
i I I , i I , , , i , I , , I
12.0
2.0
1.5
S
PAY OF ARMED
FORCES S/
1.0
-PAYMENTS TO VETERANS h
TT77, I .
Redistribution of Employment
2.5
MANUFACTURING
WAGES
(DURABLE GOODS)
2.0
1.5
w
PAYMENTS BY
TRADE ESTABLISHMENTS -
\
\
1.0
MANUFACTURING WAGES
(NONDURABLE GOODS)
1945
cussion of recent changes in savings appears in the final section of this review.
Nonfarm Employment at VE-Day Level
The uptrend in industrial employment
was clearly reestablished during the last
quarter with the settlement of major
labor-management disputes and the easing of some materials shortages. The
supply of labor also increased as veterans
continued to return to the civilian labor
force. Thus the level of unemployment
and the over-all labor-market situation
showed little change despite rising demand for workers.
By mid-May, total nonagricultural
employment as reported by the Labor
Department had almost regained the
level of the comparable month a year
ago—when the European war ended.
This represented a gain of more than
2 million workers from the low in February, when man-days idle because of work
stoppages were at a peak.
Construction in the Lead
Construction continued to lead the upturn in employment, reaching the highest volume since 1942. Manufacturing
employment also rose during the quarter,
largely owing to the resumption of operations in the durable-goods industries
after the settlement of disputes.
Employment in the non-durable-goods
group has been sustained during recent
months, contrary to the usual seasonal
decline. Government civilian employment has shown only a small change, as
seasonal expansion of State and local
pay rolls and hiring by Federal post
offices and the Veterans' Administration
slightly more than offset cuts in the War
and Navy Departments.
1946
MONTHLY TOTALS, SEASONALLY ADJUSTED
1
Includes some items of income payments
not shown separately in the chart.
2
Includes Government's contribution to
family allowances paid to dependents of
enlisted personnel.
3
Represents mustering-out payments to
discharged servicemen, redemption of adjusted service bonds (bonus to World War I
veterans), and veterans' pensions, compensation, and readjustment allowances.
4
Represents pay rolls and net income of
proprietors.
Source of data: U. S. Department of Com
merce.
Although aggregate nonagricultural
employment is not very different from
the total of a year ago, there has been a
marked redistribution between manufacturing and other areas as well as
within manufacturing itself. The general effects of the return to peacetime
activities are indicated in the accompanying chart. (Changes in employment and in the labor force are analyzed
in a special article in this issue.)
Manufacturing industries in which war
production was concentrated showed the
sharpest change—loss of some 2 million
workers from the past year. As shown
in the middle panel of the chart, the drop
occurred entirely in the durable-goods industries, which accounted for most of the
munitions output.
Nonwar industries, concentrated in the
nondurable-goods field, have been showing moderate but steady gains as labor
and materials have again become available for civilian production. The textile
group, for example, added some 120,000
July 1946
Chart 6.—Disposition of Income
Payments
BILLIONS OF DOLLARS
I H TAXES ^
150
/YA
^
100
-
1
1
•1
H
•
0
CONSUMER
EXPENDITURES
1
• i
• |
50
NET SAVINGS
OF INDIVIDUALS
(GOODS AND SERVICES)
^ ^
D.D. 46-466
2nd Qr. 1945
2nd Qr. 1 9 4 6 ^
SEASONALLY ADJUSTED,
AT ANNUAL RATE
1
Represents personal taxes and nontax payments.
2
Preliminary estimates.
Source of data: U. S. Department of Commerce.
workers during the year ended in May.
The shift between manufacturing industries is understated by the classification
shown in the chart, since the durablegoods group includes some civilian-type
industries, such as furniture, while certain former direct munitions plants, such
as those in the chemical and rubber industries, are included in the nondurable
goods.
The only major subdivision other than
durable-goods manufacturing showing a
net loss since the war's end is the Government sector, which declined by almost y2 million during the year.
Declines in manufacturing and Government have been offset by gains of
about l1/^ million in trade and service
establishments and about 1 million in
construction, shown in the lower panel.
These segments benefited almost immediately by the relaxation of wartime
restrictions, the easing of labor supply,
and the record level of consumer expenditures.
Civilian Labor Force at Record Size
With re-entries and new entries exceeding withdrawals, the civilian labor
force gained almost 5 million in net
strength between the time of the Japanese surrender and June 1946, to reach
a record size of 59 million, according to
the Census estimate.
More than 3!/2 million of this increase
occurred between March and June of this
year. As in previous months, the return
of veterans accounted for a large part
of the rise. In contrast to the trend
through February, however, the number
of women in the labor force rose somewhat in the three most recent months.
SUEVEY OF CURRENT BUSINESS
July 1946
While it is evident that the bulk of expected postwar withdrawals from the
labor force have already occurred, it is
too early to tell whether a significant reversal in trend may now occur with the
rise in employment opportunities.
Owing to the continued increase in the
size of the labor force during the second
quarter, rising employment was not accompanied by a corresponding reduction
in unemployment. Combined unemployment compensation claims and veterans'
claims for readjustment allowances
Chart 7.—Nonagricultural Employment by Selected Industrial
Groups 1
MILLIONS OF PERSONS
40
I
I
TOTAL NONAGRICULTURAL £/
38
36
34
I I I I I I I I I I I
10
I
I
MANUFACTURING 2/
I I I I I
I I I
DURABLE GOODS
INDUSTRIES
(shown in chart 8) have continued at
about ZV2 million throughout the first
half of this year.
The gradual decrease in regular compensation claims has been more than offset by the increase in claims for veterans
allowances, which have risen each month
since the program began. The taperingoff of regular claims since January, and
particularly the drop in the weekly average between March and April, reflected
the general increase in employment opportunities and the exhaustion of benefit
rights by many claimants. The downtrend was halted in May, however, both
because of the impact of the coal strike
and the beginning of new benefit years
in a number of states.
Since some of the nonveteran unemployed are not covered by unemployment insurance and others have exhausted their benefit rights, the discrepancy between the aggregate claims
figure of 3M> million and the Census unemployment estimate of about 2V2 million is particularly striking. The various factors accounting for the difference
in the two sets of figures were discussed
in the review of the business situation
in the October 1945 SURVEY.
In part the discrepancy is caused by
the fact that the Census definition of
unemployment does not include workers temporarily laid off or out of work
for only part of the survey week. Such
persons may, however, be eligible for
unemployment compensation.
Manufacturing Relatively Stable
OTHER NONAGRICULTURAL
FINANCE, SERVICE,
AND MISCELLANEOUS
w
1945
1
Includes all full-time and part-time workers in nonagricultural establishments who
are employed during the" pay period ending
nearest the fifteenth of the month. Proprietors, self-employed persons, domestic
servants, and personnel of the armed forces
are not included. Data for "manufacturing"
represent
production workers only.
2
Includes some industrial groups not
shown
separately
in the chart.
3
Includes Government-operated navy yards
and
manufacturing arsenals.
4
Includes Federal, State, and local government. Government-operated navy yards and
manufacturing arsenals, and Federal forceaccount
construction are excluded.
5
Includes Federal force-account construcand contract construction.
Digitizedtion
for FRASER
http://fraser.stlouisfed.org/
Source of data: U. S. Department of Labor.
Federal Reserve Bank of St. Louis
Although the period since VJ-day has
seen important work stoppages in basic
industries, the over-all volume of manufacturing production has not undergone
any major fluctuations since the rapid
decline associated with the winding up
of war production. The behavior of
the index of manufacturing production,
as compiled by the Federal Reserve
Board, is shown in chart 9.
The seasonally adjusted index of total
manufactures declined to a postwar
low in February, recovered rather
sharply in the next 2 months, and then
fell off again in May. Practically all of
this up and down movement, however,
can be attributed to changes in the steel
operating rate. Steel operations were
practically halted in the latter part of
January and the first half of February
because of the steel strike. Again in
May, many blast furnaces were shut
down because the work stoppage at the
bituminous coal mines was prolonged
into its second month.
When the points in the manufacturers'
index attributable to iron and steel production are excluded from the total
index, the monthly fluctuations described
Chart 8.—Claims for Unemployment Compensation and Veterans ' Readjustment Allowances *
MILLIONS OF CLAIMS
I
1945
1946
WEEKLY
1 I
1 t
0.0. 46-449
AVERAGE FOR MONTH
1
Data for June 1946 are averages of the
three weeks ending June 22 and are partly
estimated.
Sources of data: Social Security Board and
the Veterans' Administration.
above disappear and the index shows
only very minor changes since last
September. Beginning in February,
there is evidence of a slowly rising trend.
The effects of the exclusion of iron and
steel are illustrated in the chart.
Comparison With 1941
The total index of manufacturing production averaged about 173 during the
second quarter of 1946 (1935-39=100),
or about 3 percent above the monthly
average for 1941. At the peak of the
war period the index was close to 250.
Chart 9.—Manufacturing Production, Seasonally Adjusted
POINTS IN TOTAL INDEX
300
250
jgtmmm
^ ^
^ W
TOTAL MANUFACTURES INDEX
M (1935-39 = 100)
200
1941 MO. AVG. \
TOTAL MFRS. INDEX
V > * ^
^ ""
" ^ ^
^
\
i
150
TOTAL MANUFACTURES,
EXCL. IRON AND STEEL
100
50
-
I
|
i
i
I ! i
!945
ii
i
i 1 i
I i
i
i
1 i
i
i i i
1946
Source of basic data: Board of Governors
of the Federal Reserve System.
SURVEY OF CURRENT BUSINESS
8
ELECTRIC RANGES
on June 30 with a budget deficit of practically 22 billion dollars. Expenditures
for the 12-month period just ended were
65 billion dollars and receipts, 43 billion
dollars. These results compare with expenditures of 100 billion dollars and receipts of 46 billion dollars during the
fiscal year 1945.
The gap between income and outgo
was considerably narrowed during the
last fiscal year and in the final quarter
was running at an annual rate of about
14 billion dollars. In the preceding quarter, however, covering January-March
1946, there was a small budget surplus
resulting from the heavy concentration
of income-tax collections in February
and March.
The Federal budget is rapidly approaching the point where it will cease
to be a factor tending to increase the
inflationary excess of buying power. For
the first 6 months of this year, the actual
excess of cash outgo over cash income,
including net receipts of trust accounts,
was only about 2 billion dollars, compared with the budget deficit for general
and special accounts of 3.3 billion dollars. In the first 6 months of 1945, the
cash deficit was 21 billion dollars and the
budget deficit 26 billion.
REFRIGERATORS
Progress of Debt Retirement
CAST-IRON SOIL PIPE
Revised budget estimates for the fiscal
year just begun have not yet been announced, but it is generally understood
that the Treasury will not have to borrow new money to finance its expenditures in the period ahead. Actually,
substantial progress has already been
made in retiring outstanding debt, even
though tax receipts still do not cover
expenditures. The total Federal interest-bearing debt, which reached a peak
of 278 billion dollars in February 1946,
was reduced to about 266 billion dollars
in early July. At the same time, the
balance in the Treasury's general fund
was cut from about 26 billion dollars to
12 billion dollars.
Most of the debt repayments have
been for short-term securities held
largely by commercial and Federal Reserve banks. Aside from the reduction
in commercial bank holdings of Government securities, the major effect of the
debt-retirement program so far has
been a tightening of the reserve position
of member banks. However, this development can have little effect on the
ability of the Nation's banks to expand
their commercial loans, since the central banking authorities are committed
to support the market for Government
securities. Banks can always unload
some of their Government securities to
acquire funds needed to finance new
loans.
Chart 10.—Percentage Change in Manufacturing Output: Monthly Average in Second Quarter 1946 From Monthly Average in Base Period 1
-80
-60
-40
r
I
PERCENTAGE CHANGE
-20
0
+20
+40
+60
+80
I
CIGARETTES
RAYON DELIVERIES
AUTOMOTIVE REPLACEMENT BATTERIES
APPAREL WOOL CONSUMPTION
WASHING MACHINES AND IRONERS
PASSENGER-CAR TIRES
BOOTS AND SHOES, OTHER THAN RUBBER
VACUUM CLEANERS
LUMBER
MOTOR FUEL EXCL. AVIATION GASOLINE
RADIOS
COTTON CONSUMPTION
PORTLAND CEMENT
STRUCTURAL CLAY TILE,UNGLAZED
BRICK, UNGLAZED, COMMON AND FACE
WOMEN'S HOSIERY
PASSENGER CARS
SEWING MACHINES
_L
_L
I
L
XDJD.
46- 481
1
The base period represents the average monthly production for the calendar year 1941 for all
products except refrigerators, washing machines and ironers, vacuum cleaners, radios, and
electric ranges, which represent the monthly average production in the fiscal year 1940-41.
Production for the second quarter of 1946 was estimated on the basis of preliminary data for
April and May.
Sources of data: U. S. Department of Commerce, based upon data from various governmental
and private agencies.
The manner in which output of a
variety of selected products in the second quarter compared with that for a
prewar base period, generally 1941, is
shown in chart 10. In only two groups
of reconversion items—washing machines and ironers and vacuum cleaners—was production higher in the second
quarter than in the base period. On the
other hand, those industries which operated at capacity during the war, filling
both war and civilian orders, and had
relatively minor or no reconversion
problems, were still operating at the wartime peaks or at an even higher rate
during the most recent quarter. Output of cigarettes, rayon, batteries, tires,
and boots and shoes has been running
considerably above base period levels.
With few exceptions, products with
output below the base period were either
reconversion items, such as passenger
http://fraser.stlouisfed.org/
cars, refrigerators, and sewing machines,
Federal Reserve Bank of St. Louis
July 1946
or building materials. Practically all of
the reconversion items are on a steeply
rising production curve and should exceed base-period production in the near
future. As for building materials, the
Congress recently appropriated 400 million dollars to be used as incentive payments to boost production in line with
the requirements for the postwar construction program.
Output of women's hosiery was below
prewar volume throughout the war period, because hosiery manufacturers were
unable to fill the gap created by the disappearance of raw silk and the diversion
of nylon to military use. The return of
nylon after the end of the war has been
partly offset by lower production of rayon
hosiery, so that total output still falls
short of the 1941 average.
Narrowing Budget Deficit
The fiscal year 1946—which included
about 6 weeks of fighting war—closed
SURVEY OF CURRENT BUSINESS
July 1946
Savings of Individuals During the Transition
The continued rise of consumer expenditures in the face of relatively small
changes in income payments and taxes
has resulted in a halving of the rate of
saving out of current income over the
past twelve months. Seasonally adjusted savings in the second quarter of
this year are estimated to be 20 billion
dollars at an annual rate as compared
with almost 40 billion dollars a year
ago. In the fourth quarter of 1941, when
savings of individuals were running close
to the 20-billion-dollar rate, savings constituted almost 20 percent of disposable
income, in contrast to 14 percent in the
quarter just ended.
Factors Reducing Savings
A reduction in the net savings of individuals may come about in three ways:
(1) the proportion of current income
spent for consumption purposes may be
increased; (2) spending for consumption
may be augmented by drawing upon
savings accumulated out of past income;
and (3) spending for consumption may
be augmented by resorting to borrowed
funds. All three of these influences have
been operative in reducing the rate of
savings since the end of the war.
E-Bond Sales Fall Below Redemptions
Recent trends in sales and redemptions of United States savings bonds suggest that the first of the above factors
(i. e., the tendency to spend a larger
proportion of current income) has probably been more important than the other
two (see chart 11 and table 3).
Although sales of Series E bonds have
fallen below the volume of redemptions
in each month since last February, this
has resulted because of the marked reduction in sales rather than any sharp
upsurge in redemptions. The peak in
redemptions was reached last October.
While redemptions have remained much
larger than during the war, the fact that
the trend has not been upward since the
end of the war indicates that there has
not been any great rush to cash bonds.
The volume of E-bond sales, on the
other hand, has fallen off appreciably.
In recent months sales have been much
less than in the inter-drive months during the war. Clearly, individuals have
become much less disposed to use income
to purchase savings bonds.
Large Net Sales of F and G Bonds
It is apparent from the lower panel of
chart 11 that sales and redemptions of
Series P and G bonds have not been
696891—46
2
Although the dollar volume of individual savings out of current income has been halved over the past
year, investors have not been in any
great rush to cash their savings
bonds. However, sales of E-bonds
have slackened.
The concentration of liquid asset
holdings, income, and savings of
individuals, as shown by a recent
survey, is discussed in this section.
similarly affected since the end of the
war. Redemptions have continued at a
low level, although they have been rising steadily in line with the increase in
the amount of bonds outstanding. Sales
of P and G bonds have not shown any
tendency to decline. In fact, the monthly average of sales for the first half of
this year was slightly above the monthly
average during 1945.
Chart 11.—Sales and Redemptions
of United States Savings Bonds
BILLIONS OF DOLLARS
2.5 1
SERIES E
SALES
-REDEMPTIONS
,1
I
I
I
.,
1.0
SERIES F AND G
1943
1944
1945
1946
a a 4&-4J4
Source of data: U. S. Treasury Department.
The contrast between E bonds and F
and G bonds is explainable in terms of
the different classes of investors. The
latter bonds are held almost exclusively
by persons in the upper income brackets
or by corporations and institutions. The
fact that these groups of investors have
not reduced their bond purchases during the postwar transition indicates that
they have not experienced any sharp reduction in current savings.
Consumer Debt Rise Augments Spending
The savings of individuals has been
offset to an increasing extent in recent
months by the increase in consumer debt.
During the first quarter of 1946 this increase amounted to about 200 million
dollars. This is the first time since 1936
that consumers added to their debt in
the January-March period. Usually, the
repayment of holiday-incurred debt during these months outweighs the extension of new debt.
While Federal Reserve controls on consumer credit financing are expected to
continue as a restraining influence, large
additions to the volume of consumer debt
outstanding are anticipated as durable
consumer goods, particularly passenger
cars, become generally available. Thus,
the addition to consumer spending from
this source will become more important
and there will be a correspondingly larger
offset against the savings of individuals.
Composition of Savings
Estimates of the volume and composition of savings through the first quarter
of 1946 are presented in table 4. These
estimates have been prepared by the Securities and Exchange Commission and
the totals are not strictly comparable
with the Department of Commerce series
largely because of conceptual differences.
Nevertheless, the trend in savings shown
by the SEC estimates is very similar to
the trend indicated by the Commerce
series.
First quarter savings as shown in the
table are down very sharply from the war
period. In comparison with the first
quarter of 1945, the largest reductions
have occurred in currency and bank deposits and in United States Savings
bonds.
New Cash Savings Low
During the first three months of this
year individuals continued to add to their
cash holdings, but at a greatly reduced
rate. The total increase in that period
amounted to only 1.5 billion dollars as
SUEVEY OF CUREENT BUSINESS
10
Ownership of Liquid Assets
Table 3.—Sales and Redemptions of Savings Bonds
[Millions of dollars]
Excess of sales over
redemptions l
Redemptions
Sales
Year and month
1945:
January
February.
[March
April
May.June
July
August - September
October
November
December
1946:
January
February
March
April
May
June
. _.
Series
Series
Series E 3 F and G
Series
F and G
Series E
Series
Fand G
804
653
712
684
1,195
1,468
1,032
571
420
510
865
908
270
195
177
153
345
710
263
128
94
115
319
345
1,074
848
889
838
1,540
2,178
1,294
700
514
624
1,184
1, 254
8
6
26
22
22
21
22
]6
14
20
23
25
306
290
106
359
376
352
375
485
487
562
474
490
28
27
32
22
28
31
31
30
28
33
36
44
341
323
464
404
426
403
428
531
528
616
533
559
488
363
306
326
819
1,116
656
86
-67
-53
391
418
243
168
146
131
317
680
232
98
66
81
282
301
641
367
371
388
345
321
319
255
255
280
250
250
960
622
626
668
594
571
42
29
31
31
29
28
541
492
550
546
469
439
46
45
54
44
54
52
629
565
634
621
552
519
100
-125
-179
-158
-124
-118
273
211
202
236
195
198
Total
A-D 2
Total
Series E
NOTE.—Figures
are rounded and detail will not necessarily add to totals.
1
Minus sign represents excess of redemptions over sales.
2
Includes
maturing
series A bonds beginning March 1945 and maturing series B bonds beginning January 1946.
3
Data for Series E include unclassified redemptions which contain small amounts of series A-D.
Source: U. S. Treasury Department.
compared with a net addition of 5 billion
dollars in currency and bank deposits in
the comparable quarter of 1945. Currency holdings were actually reduced
about 400 million dollars, a seasonal
trend for that time of year, which has
reappeared in the statistics for the first
time since the start of the war. Although
there was a small increase in demand
deposit holdings, by far the largest increase—1.7 billion dollars—occurred in
savings and time deposits.
The reduced amount of cash savings
of individuals is a reflection of the improved Federal budget situation which
enabled the Government to redeem
some bonds held by the banking system,
as well as of the fact that there has been
no substantial shift of cash between the
corporate and consumer communities.
As long as the budget picture continues
favorable and inflationary bank borrowing by individuals and business is restrained, additions to the cash accumulation of individuals will play an even
less important role in savings in the
future.
Insurance Savings High
Gross savings of individuals in insurance during the first quarter of 1946
was about 600 million dollars less than
a year ago, with most of the decline taking place in Government insurance.
Savings in the form of private insurance
have been relatively stable for the last
year after advancing strongly over most
of the war period. There has been a
slight but steady decline in savings in
the form of National Service Life Insurance since the end of 1944. While the
drop in 1945 was more a result of an increase in refunds and benefit payment
July 1946
than a decrease in premium receipts,
both receipts and payments fell sharply
in the first quarter of 1946.
Home Purchases and Debt Rise
Although there has been a steady increase in nonfarm home purchases from
the low level of 100 million dollars in
the first quarter of 1945 to 600 million
in the first three months of this year,
these new purchases have not absorbed
a correspondingly greater amount of
income, since the greater part of the
purchases were financed from borrowed
funds. The first quarter increase in
debt on nonfarm homes was actually
greater than the total increase in 1945.
A recent survey of liquid asset holdings, spending, and savings by the Division of Program Surveys of the Department of Agriculture for the Board of
Governors of the Federal Reserve System, provides considerable "information
regarding the concentration of liquid
asset ownership and the use that might
be made of these assets. Some of the
more important statistical findings of
this survey are summarized in tables 5,
6 and 7.1 Table 5 shows the very great
concentration of Government bond and
deposit holdings in the hands of a relatively small part of the population.
When the spending units 2 are arranged
in descending order according to the
amount of liquid assets owned, it appears
that, at the one extreme, 10 percent of
the units owned 60 percent of total liquid
asets, and at the other extreme, 50 percent of the spending units owned only 3
percent of the assets.
The survey results (table 6) show that
about one out of every four spending
units held no liquid assets at all. While
holdings of U. S. discount bonds are
somewhat less concentrated than are deposits, it is nevertheless striking that 37
percent of the spending units possessed
no Government bonds at all.
In other words, for the greater portion
of the community it is clear that their
spending must be dictated by current in1
Currency holdings are not included in
total liquid asset holdings. Attempts made
in the Survey to ascertain savings in currency
were unsuccessful.
2
The spending unit is defined as all persons in a household who depend on a common or pooled income for their major expenses.
Table 4.—-Gross Savings of Individuals 1
[Billions of dollars]
1945
1946
T y p e of savings
Second
quarter
First
quarter
Currency a n d bank deposits 2
Insurance a n d pension reserves:
Private
Government
Total insurance and pension reserves
Securities: 3
U. S. Savings bonds
Other U . S. Government _ .
Other
Total securities
Nonfarm dwellings:
P u r c h a s e s . . . _'
Change in debt
Savings 4
Automobiles and other durable consumer goods
Liquidation of other consumer debt
Total gross savings
Fourth
quarter
Third
quarter
First
quarter
+5.2
+3.0
+7.0
+5.0
+1.7
+.9
+1.3
+2.2
+.9
+1.5
+2.5
+.8
+1.3
+2.1
+1.0
+1.0
+2.0
+.8
+.8
+1.6
+1.4
+3.0
+2.2
-.7
+4.5
+.9
+1.5
+ 1.7
-.4
+2.8
+.1
+.6
-.6
+.1
+.4
+.3
+.1
+2.4
+.6
+.4
+.1
+2.2
-.2
-.1
A
o
+L0
+.1
-.2
+.3
+1.7
+.2
+.2
+.1
+.1
+1.9
+'3
+.9
+.3
+.1
+.2
+2.0
+10.5
+ 11.9
+ 12. 1
-.1
0
-.9
+ 11.5
1 Includes unincorporated business savings of the types specified. All data are preliminary. Figures are rounded
and
detail will not necessarily add to total.
2
Includes savings of individuals in savings and loan associations amounting to +0.2 billion dollars in the first quarters
of 1945 and 1946 and +0.3 billion dollars in each of the remaining quarters.
3 Does not include net purchases by brokers and dealers or by other individuals financed by bank loans.
< Equals purchases plus reduction in debt or minus increase in debt.
Source: Securities and Exchange Commission.
SURVEY OF CURRENT BUSINESS
July 1946
Table 5.—Concentration of Personal
Liquid Asset Holdings, February 1946
Percentage of total held
Spending units
ranked accordTotal
ing to their hold- U. S, Savings Checking
liquid
ings
discount accounts
accounts assets 1
bonds
Top
Top
Top
Top
Top
Top
Top
10 percent--20 percent-_.
30 percent-..
40 percent-__
50 percent--60 percent-._
70 percent.—
62
80
90
95
99
100
100
71
90
98
100
100
100
100
79
94
99
100
100
100
100
60
77
87
93
97
99
100
i Includes all kinds of U. S. Government bonds and
savings and checking accounts.
Source: U. S. Department of Agriculture.
come or credit standing. At the same
time it is apparent that the bulk of
liquid savings is in the hands of people
who regularly save and may be disinclined to part with their liquid assets.
Distribution by Income Classes
Before any conclusion can be deduced
as to the role of these liquid assets in
the postwar spending plans of the public,
it is important to know the income
classes of the various holders, since it
may be presumed that lower income recipients are more likely to supplement
their current income with purchases
from accumulated assets than are individuals in the upper income brackets.
The percentage distribution of liquid
assets holdings by income classes and
the median holdings3 in each of these
groups are shown in Table 7. As might
be expected, liquid asset holdings are
not as concentrated when spending units
are ranked according to income, as in
table 7, as when the units are ranked
according to the size of their holdings
as in table 5.4
Persons receiving $2,000 or less a year,
who made up almost 50 percent of the
spending units, had about one-fifth of
3
See footnote 2 to table 7 for the definition
of 4the median.
Some of the low income people who own
considerable amounts of liquid assets are
retired people whose former incomes were
very high, and some are farmers whose
present money income is not indicative of
their real income.
the total assets. Slightly over half of
the total liquid assets was in the hands
of units with incomes of less than $4,000.
While the degree of concentration of
liquid holdings is also apparent in the
fact that the very small proportion (3
percent) of persons with the largest incomes owned almost one-quarter of total
liquid assets, it seems clear from the table
that the low and medium income classes
possess a sizable dollar amount of accumulated savings which are potentially
available for spending on current consumption.
This conclusion is supported by the
data in table 7 showing the median holdings of the spending units by income
brackets. As was noted above, it should
be borne in mind that these holdings
do not include currency. The amount
of liquid assets held by the middle spending unit of the lowest income group
amounted to only $20. This very low
sum is to be explained by the fact that
almost one-half of the units in
this group have no liquid assets and the
median holder is therefore the possessor
of only a negligible amount of assets.
The median holdings of the $l,000-$2,000
income class amounts to the quite substantial sum of $230.
While these median holdings are
probably more representative of the
typical spending unit in each income
bracket, it is worthy of note that if the
total holdings in each bracket are
divided by the number of units in that
group (to obtain the arithmetic mean),
the size of the average holdings is increased to about 600 dollars in the lowest group and to 900 dollars in the
$l,000-$2,000 bracket.
Although the distribution of liquid
asset holdings by income classes suggests a substantial reservoir of accumulated funds in the hands of low and
medium income receivers who may be
more disposed to use these savings, the
over-all interpretation still seems to be
that a very large and probably preponderant share of accumulated assets are
in the hands of groups who are normally large net savers, and who may
Table 6.—Size Distribution of Personal Liquid Asset Holdings, February 1946
(Continued on p. 22)
Table 7.—Liquid Asset Holdings by
Income Classes, February 1946
Money income
of spending units l (dollars)
_
_
37
97
61
66
37
24
4,000-4,999
5,000-7,499
7,500 and over.
Total
$500-$l,999
16
18
20
1
16
14
6
2
7
2
100
100
100
100
29
29
18
100
1
Includes Series A-F savings bonds at their purchase price. Series G bonds are included with other U. S. Government bonds.
23 Less than one percent.
Includes Government bonds and bank deposits. Does not include currency holdings.
Source: IT. S. Department of Agriculture.
http://fraser.stlouisfed.org/
Federal Reserve Bank of St. Louis
The survey of the Department of Agriculture also sought to discover the extent
to which holders of liquid assets intended
to use these funds to purchase consumer
goods and services. In general, it was
found that "the majority of the holders
of each type of liquid asset intend not to
draw upon these assets in 1946," barring
unforeseen emergencies.
While this finding suggests that use of
accumulated funds may not be expected
to add greatly to the inflationary potential in the period ahead, this interpretation must be used with caution. The survey was conducted at a time when price
controls were still highly effective. While
many spending units sampled expected to
pay somewhat higher prices for goods in
1946, the expectation of substantial price
increases such as might follow a general
relaxation of price control was probably
not uppermost in people's thinking.
Inflation May Force Use of Assets
Should prices turn sharply upward in
the remainder of the year, it is quite conceivable that many individuals otherwise
disposed to hold their assets may be inclined or even forced to part with their
assets to meet current living expenses or
3,000-3,999
Less than
$500
None
3
Owners Inclined to Keep Assets
Less than 1,000
1,000-1,999
2,000-2,999
T y p e of Asset
Total liquid assets
therefore not be inclined to part with
their wartime accumulations.
This conclusion appears to augur favorably for the immediate period ahead
when inflation rather than deflation appears to be the most serious threat.
But it suggests that for the longer range
problem of maintaining high incomes
after the pent-up demands have been
filled, the backlog of accumulated liquid
savings is negligible or very small for
over half the community, most of whom
are in lower-income groups having the
greatest propensity to spend.
—-
Percentage of spending units holding—
V. S. Savings bonds ! ._
Other U. S. Government bonds
Savings accounts
Checking accounts
11
Total.._.
430
1 Income distribution is based on 1945 income before
income
taxes.
2
The median holding in any income class is defined
as the amount of assets held by the middle spending unit
when these units are arranged in order of size of holdings.
The arithmetic mean—the more commonly used average—would show a substantially higher total in each income class but it was felt that because of the wide range
of holdings the median would be more typical of the
income groups.
Source: U. S. Department of Agriculture.
SURVEY OF CUREENT BUSINESS
12
July 1040
The Prospective Labor Supply
By David R. Roberts
URING THE WAR there was a tremendous increase in the size of the
D
total labor force with the entrance into
the labor market of large numbers of
school-age boys and girls, housewives,
and older persons. Hence, it was possible to induct millions of productive
workers into the armed forces with only
a slight decline in the aggregate size of
the civilian labor force. Greatly improved utilization of this less productive
working force made it possible to achieve
phenomenal war production.1
Wartime participation of many persons who would not normally have been
in the labor force raised the question of
whether they would stay on as job seekers after the return to a peacetime economy. If they did, the civilian labor
force would assume record-breaking proportions; if they withdrew there would
be only the normal growth. Many,
though not all of the war workers, have
taken the latter course and there is now
speculation as to whether in the light
of the higher level of demand than existed in the pre-war period we face an
over-all labor shortage during the coming year. Apart from changes in the demand for labor, which are outside the
scope of this article, that depends upon
whether the wartime entrants to the
labor force continue to leave it or flow
back, how many veterans return to the
civilian labor force, and the amount of
normal growth.
It is nearly a year since the end of
the war. Certain changes have already
occurred and certain trends are manifest. On the basis of the latter, estiNOTE.—Mr. Roberts is a member of the
Economic Programs Division, Office of Business Economics.
ir
rhe labor force data in this article for
the period prior to July 1945 represent the
author's adjustments to the Bureau of the
Census statistics (published, in the Monthly
Report on the Labor Force) necessitated by
the change in the Census survey procedure
subsequent to that date. Official revisions
of the statistics for this past period will be
published in the near future by the Bureau
of the Census. It should also be mentioned
that this article is not concerned with the
basic labor force concepts which are still in
the process of refinement.
Estimated Increase in Civilian Labor
Force, March 1946 to March 1947
[In millions]
Civilian labor force, March
1946
55. 7
Plus veterans on vacation
1. 3
Plus veterans to be discharged who will be in
the labor f o r c e by
March 1947
2.0
Plus normal growth
.5
Allowance for additional
withdrawals or f o r
back-flow of "abnormal" entries. —1. 0 to +1. 0
Estimated civilian labor
force, March 1947
58. 5 to 60.5
mates can now be made of the likely
labor supply in the coming months.
That will be the subject matter of this
article. To approach the problem it is
necessary to sketch briefly the labor force
changes since 1940 as a background for
the current trends.
This leaves a rise—estimated at over 8
million—which is explained in terms of
abnormal war conditions: the drafting
of breadwinners, the existence of job opportunities heretofore unknown, patriotism, and other factors. Since most men
within the usual working years were already in the labor force, the bulk of the
increase had to come from the margins.
Charts 2 and 3 depict the sources by age
and sex groups. The bulk were school
age boys and girls, housewives, and older
persons of both sexes. As a result of
these additions and the growth of the
armed forces, there was a striking
change in the composition of the civilian
labor force. (See Charts 4 and 5.) The
proportion of women to the total rose
from one-fourth to one-third and the
proportion of school age and older people
increased markedly, particularly among
the men.
Second, working hours were lengthened. In manufacturing the increase
Chart 1.—Total Labor Force 1
MILLIONS OF PERSONS
80
Wartime Rise in Labor Force
From March 1940 to March 1945 the
strength of the armed forces was increased by nearly 12 million. Some of
the recruits came directly from school
but the majority were young men of the
most productive working age who were
withdrawn from the civilian labor force.
This threatened a severe drop in productive potential. The fact that, on the
contrary, civilian man-hours worked and
output rose sharply was due in large
measure to three factors, one bearing
upon the size of the civilian labor force,
and the others upon the degree of its
utilization. (Chart 1 depicts the changes
in the size of the total and the civilian
labor forces.)
First, the drop in the civilian labor
force was held to one-half million by the
entrance of over 11 million people normally outside it. Over the 5-year period
in question population growth would
have caused an increase of nearly 3 million if prewar trends had continued.
60
• • •
MILITARY
40
1II
1 II
H||
20
0 ___J^^H_
1940
1
•<
^H
^^H
1945
MARCH-
^ H CIVILIAN
^^H
0.0.46-417
1946
Data include persons 14 years of age and
over, but do not include institutional population.
Source of data: U. S. Department of Commerce.
13
SUEVEY OF CURRENT BUSINESS
July 1946
was about eight hours per week. The
inclusion of the other industries where
hours do not fluctuate so much yields
a probable average increase of about
five hours per week. Third, the number
of jobless was reduced from about 7
million to % million. This raised civilian employment by roughly 13 percent.
Incident to war mobilization, there
was a marked shift in industrial distribution of workers. This is indicated by
Tables 1 and 2 and Chart 6. Employment in the manufacturing industries
which bore the chief brunt of war production rose from 21 percent of the
total in March 1940 to 31 percent of
the larger total in March 1945. Most
other industrial groups declined absolutely and all but the transportation,
communications and public utilities
group and government declined relatively. Within manufacturing, employment in the production of transportation equipment, ordnance, iron and
steel, chemicals and other war goods
increased enormously on both an absolute and relative basis. Most other
manufacturing lines increased absolutely if not relatively, although a few
like textiles and leather declined by
both criteria.
In the Spring of 1945, then, we had
mobilized a 12-million man army and
had a civilian labor force nearly equal
in size to its pre-war level but changed
markedly in composition by the loss of
young men to the military and their
substitution by school age boys and
girls, housewives, and older people. The
production potential was being realized
through full employment, long working
hours, and other means of increasing
the utilization of the labor force.
Chart 2.—Changes in the Male Labor Force, by Age Groups, March 1945
from March 1940 1
AGE GROUP
-5
MILLIONS OF PERSONS
+ .5
1
(YEARS)
+1.0
+ 1.5
r~
14- 19
2 0 - 24
25 - 3 4
35 - 4 4
4 5 - 54
ACTUAL
CALCULATED U
55 - 6 4
65 AND OVER
D.O. 46-424
1
See footnote 1, chart 1.
Change calculated on the basis of prewar population and labor force participation trends.
Source of data: U. S. Department of Commerce.
2
Chart 3.—Changes in the Female Labor Force, by Age Groups, March 1945
from March 1940 1
AGE GROUP
(YEARS)
-.5
MILLIONS OF PERSONS
+ .5
+1.0
+ 1.5
I.
14-19
Reversal of Wartime Trends
Demobilization of the armed forces
and the cutback of war production have
Table 1.—Estimated Industrial Distribution of Civilian Employment,
March
1940, 1945 and 1946 x
Agriculture - _
Manufacturing.
_ __ ___
Mining
Construction
Transportation, communication and public utilities
Trade
Finance, services and miscellaneous
Domestic service
N o n a g r i c u l t u r a l self-employed and unpaid family
workers
Government _ __
.__ __
Total
March
1940
25 - 34
35 - 4 4
Percent of total
Industrial group
20-24
March March
1945
1946
19
21
2
3
15
31
1
2
14
26
2
3
6
14
13
7
15
9
5
8
3
10
3
13
8
10
10
11
9
100
100
100
45 - 54
ACTUAL
55 - 64
65 AND OVER
O.O. 46-423
1
See footnote 1, chart 1.
Change calculated on the basis of prewar population and labor force participation trends.
Source of data: U. S. Department of Commerce.
2
i Based on data from the U. S. Department of Commerce, Agriculture, and Labor.
CALCULATED^/
SURVEY OF CURRENT BUSINESS
14
initiated the labor force changes since
the end of the war. Unlike the influences of the war years which operated
consistently to increase both the size
and the utilization of the labor force,
the influences of the last year have had
a mixed effect which on balance has resulted in a small drop in civilian manhours worked.
From March 1945 to March 1946 about
6 million people dropped out of the labor
force. Of these 2 million were veterans,
most of whom had temporarily postponed their jeturn to the labor force or
were going to school. About 4 million
were civilians—the extra workers who
were drawn into the labor force during
the war years. More will be said of these
later. Since discharges from the armed
forces exceeded the withdrawals from
the labor force by 1% million, the civilian
labor force is larger by that number than
it was in March 1945. Also, the gain of
5% million veterans and the loss of 4
million wartime civilian recruits has gone
far to restore the prewar age-sex composition of the civilian labor force as indicated by Charts 4 and 5.
The increase in the size of the civilian
labor force has been more than offset by
the drop in the degree of its utilization
caused by the various readjustments incident to reconversion. Working hours
have been cut in nearly all lines. In
manufacturing the drop was about five
hours per week and occurred primarily
Chart 4.—Percentage Distribution
of the
Civilian Labor Force, by
Sex 1
25
-
1
See footnote 1, chart 1.
Source of data: U. S. Department of Commerce.
July 1946
Table 2.—Manufacturing Employment by Industrial Groups, January 1940 to
December 1945 l
January 1940
Industrial group
Manufacturing:
19. Ordnance and accessories
20. Food and kindred products
21. Tobacco manufactures
22. Textile mill products
23. Apparel and other finished products made
from fabrics and similar materials
24. Lumber and timber basic products
25. Furniture and finished lumber products
26. Paper and allied products
27. Printing, publishing and allied industries
28. Chemicals and allied products
29. Products of petroleum and coal
30. Rubber products
31. Leather and leather products
32. Stone, clay and glass products
...
33. Iron and steel and their products
34. Transportation equipment (except automobiles)
35. Nonferrous metals and their products
36. Electrical machinery
37. Machinery except electrical
38. Automobiles and automobile equipment
39. Miscellaneous manufacturing industries
..
Number
(thous.)
(2)
1078. 7
105.5
1248. 3 .
1
2
Deceml
Percent
of total
Number
(thous.)
Percent
of total
Number
(thous.)
(2)
10.5
737.7
1352. 8
102.6
1191.3
4.5
8.2
.6
7.3
198.6
1388.4
105.0
1189.3
1.6
10.8
.8
9.3
6.2
3.0
2.4
2.4
3.2
4.9
1.2
1.5
2.2
2.3
950.9
459.7
399. 8
395.9
568.7
660.2
206.8
239. 4
367.2
386.5
1426. 2
7.4
3.6
3.1
3.1
4.4
5.2
1.6
1.9
2.9
3.0
11.1
1.0
12.2
Percent
of total
878.4
434.3
381.6
327.6
531.8
439. 9
143.1
153.9
377.6
331.1
1299. 8
12.7
1019.8
486.1
391.0
388.6
525.1
809.5
198.2
242.9
352.8
369.6
1662. 9
225.5
300. 3
422.4
739.3
531.8
308.2
2.2
2.9
4.1
7.2
5.2
3.0
2913. 8
474.9
1021.4
1364. 7
340.8
485.7
17.6
2.9
6.2
8.3
2.1
3.0
915.1
386. 4
719.3
1180.3
251.4
425.9
7.1
3.0
5.6
9.2
2.0
3.3
10259.1
100.0
16432. 2
100.0
12821.0
100.0
2
Total
January 1945
8.6
4.2
3.7
3.2
5.2
4.3
1.4
1.5
3.7
3.2
10.0
Based on preliminary estimates of monthly employment of workers covered by state unemployment insurance laws.
Data for group 19 included with group 33.
in the durable goods industries in which
munitions production was concentrated.
Swings were more violent in manufacturing than elsewhere and the average
decline in all nonagricultural establishments is estimated to have been about
three hours per week. With civilian
employment about the same in March
1946 as it was a year earlier, this drop
in working time indicates a fall of about
6 percent in man-hours.
Unemployment increased by about the
same amount as the civilian labor force.
Part of this rise was inevitable. The
March 1945 figure was only % million,
and this level could not be carried over
into a period of much shifting from job
to job.
Increased movement of employees was
the necessary concomitant of sharp cutbacks in the production of war goods and
the increases in the output of civilian
products. The extent of the shifts is indicated by Table 1 and Chart 6. Manufacturing, which gained employees during the war at the expense of almost every other industrial division, dropped half
way back to its 1940 percentage of total
employees. Since manufacturing fluctuates cyclically more than most groups
and since 1940 was a year of fairly substantial unemployment, a return to the
prewar relative position is not to be
expected as long as economic activity remains on a high level.
Trade and services, which were compelled to contract during the war, increased their share of the total to the
prewar level. Mining regained about
half its absolute wartime manpower
losses. Contract construction, though
still small, was already employing more
people, both absolutely and relatively, in
March 1946 than in March 1940. The
transportation, communications a n d
public utilities group continued the small
uptrend manifest during the war. Apart
from a 5-percent shift from agriculture
to manufacturing, the 1940 industrial
distribution has been approximately reestablished. The long-term rise in productivity and the drop in employment in
agriculture, plus accelerated mechanization during recent years, makes a relative gain in this sector seem unlikely.
Within manufacturing there has been
a similar reversal of wartime employment shifts, as indicated by Table 2.
(Later data than December 1945 are
unavailable on a current product classification basis.) Iron and steel, ordnance, machinery, transportation equipment, nonferrous metals, and chemicals
lost about 3 million employees between
January and December 1945. while the
consumer goods manufacturing industries gained. In consequence of the
enumerated wartime trend reversals the
percentage distribution of employees by
industries is back nearly to the prewar
pattern. Further large and abrupt
shifts are not to be expected, with the
exception of large gains in construction.
Potential Increase in Labor Force
In March 1946 we had a civilian labor
force of 55 y2 million. This was 1% million greater than it had been a year
earlier and more than 2 million greater
than it had been In March 1940 despite
a much larger military establishment
than on the latter date. The following
influences point toward a further in-
Chart 5.—Distribution of the Civilian Labor Force, by Sex and Age Groups *
MILLIONS OF PERSONS
MILLIONS OF PERSONS
50
FEMALE
40
2 0 - 4 4 YEARS
1 4 - 19 AND 45 YEARS
AND OVER
30
20
10
10 —
1940
*
1945
1946
1940
MARCH
1
See footnote 1, chart 1.
Source of data: U. S. Department of Commerce.
crease which may range from 3 to 5
million by March 1947:
First, 2 million veterans were outside
the labor force in March 1946. Of these,
1.3 million were estimated to be resting
and the others were in school, disabled,
or otherwise unavailable. By May the
number temporarily postponing reentry
had already dropped to less than 900
thousand, and it is likely that by next
spring all of this group will be back in
the civilian labor force. Many of those
now in school may be ready to work by
next spring, but the number is difficult
to estimate for lack of data on the type
of schooling being taken.
Second, present military plans call for
a reduction of the armed forces to a
strength of 2 million, which is to be
reached by fall. This implies the discharge of about 2 y3 million men between
the first and fourth quarters of this year.
About three-fourths of the veterans discharged between March 1945 and March
1946 were back in the civilian labor force
on the latter date. A larger percentage
of the veterans demobilized between
March 1946 and March 1947 can be expected to have returned by the end of
that year because those most recently
released from the service will have been
out at least four months. It is estimated
that 2 million, or about 80 percent, will
be back in the civilian labor force.
Third, if pre-war trends in population growth and labor force participation
continue, there will be a normal increase
15
SURVEY OF CURRENT BUSINESS
July 1946
1945
1946
D.D. 46-425
of one-half million between March 1946
and March 1947. This would make a
gross increase of somewhat less than 4
million.
The most difficult influence to forecast
is the behavior of the war workers. In
March 1945 the war-induced increase in
the labor force, i. e., the increase over
and above the amount anticipated on the
basis of normal growth, is estimated at
about 8 million. A year later it was
about 2 million. No sure answer can be
given to the question whether we shall
lose the remaining 2 million, but the
major influences affecting the various
groups whose labor force participation
remains above their norms can be examined.
First, the school-age boys and girls,
those 14-19 years of age. The war-induced increase in this group fell by over
two-thirds from March 1945 to March
1946 but was still about three-fourths
million on the latter date. There is a
change of about 20 percent per year in
the composition of this group. The new
members will probably have a lower labor force participation record than their
^ a r t i m e predecessors. This and the
strong downward trend suggest a further
drop.
Second, the women 20 to 34 years of
age. The return of the veterans will
tend to release many wives of the necessity of working. Post-discharge marriages will have the same effect. The
question is how many will withdraw.
Labor-force participation by women 20
to 34 years of age dropped from more
than one-half million above its norm in
March 1945 to nearly a million below in
March 1946, chiefly because of an abnormal number of wartime marriages. It
is likely that there will be additional
drop-outs.
Third, men and women over 35. The
changing degree of labor-force participation by these people has probably been
influenced chiefly by the existence of job
opportunities. The war-induced increase fell only about 48 percent from
March 1945 to March 1946 and it still
amounted on the latter date to about
1% million. This compares with a 66
percent drop in the school-age group and
a break-through to the negative side by
the 20-to-34-year-old women. The implication is that many of those over 35
would like to stay in the labor force.
It is not unlikely that some of those who
have withdrawn would come back if they
had the opportunity. Whether there
will be additional drop-outs or a backflow in this group probably depends on
the employment situation. More jobs
{Continued on p. 22)
Chart 6.—Percentage Distribution
of Employed Civilians, by Industrial Groups1
1
Data represent all employed persons 14
years of age and over (including proprietors,
self-employed persons, and domestic servants)
.
2
Includes Government-operated navy yards
and
manufacturing
arsenals.
3
Includes Federal, State, and local government. Government-operated navy yards and
manufacturing arsenals, and Federal forceaccount construction are excluded.
Source of data: U. S. Department of Commerce, based upon Bureau of Labor Statistics
classification of nonagricultural employees.
SURVEY OF CURRENT BUSINESS
16
July 104(5
International Transactions of the United
States During First Quarter 1946
By the International Economics Division
HE WARTIME PATTERN of the
T
United States balance of payments
was characterized by unprecedented
transfers to foreign countries of goods
and services which at their peak in 1944
amounted to over $20 billion. The
larger part of these transfers, however,
was made as a contribution to the war
effort under lend-lease. The remainder
of the exports which required payment
in dollars, mostly to countries of the
Western Hemisphere, fell short of our
own cash purchases abroad. Some foreign countries, therefore, were in the
position of accumulating gold and dollar
balances during the years 1942-45. During that period, all foreign countries
together increased their gold and dollar
holdings through transactions with the
United States in the net amount of $5.4
billion.
The evolution of the United States
balance of payments from a wartime to
a postwar pattern, which began in 1945,
continued during the first quarter of
1946.1 Large net exports of goods and
services were still offset to a substantial
degree by gifts and contributions. Net
loans and investments were available to
finance a part but not all of the remainder. For the first time since 1941,
foreign countries as a group experienced
a net loss of gold and dollar balances as
a result of their transactions with the
United States.
Exports of merchandise turned upward again at the beginning of 1946 because of the greater availability of civilian type goods in this country, together
with large foreign demands for relief
and rehabilitation. This represented a
reversal of the down trend which began
in 1944 after the preparations for the
invasion of France were completed, and
1
The figures presented in this article may
to a significant degree actually represent
transactions which occurred during prior
periods. This results from reporting lags
in certain statistical series used, particularly
for lend-lease transfers and U. S. Government transactions abroad. The former,
being exactly offset within the statement,
would not affect the net "balance," i. e.,
tke change in gold and short-term balances.
Such lags may well explain most of the
residual item shown in table 1.
Summary
The balance of payments during
the first quarter of 1946 will probably
be typical of the transition period
in showing a large export surplus
financed partly through gifts and
unilateral transfers, partly through
loans, and, to a lesser extent,
through the sale of gold and liquidation of foreign dollar balances in
this country. For the remainder of
the year, however, it may be expected that gifts and unilateral
transfers will decline, while loans
will increase.
During the first 3 months of this
year, unilateral transfers, loans, and
purchases of goods and services by
the United States provided foreign
countries with the means to obtain
goods and services here at the annual rate of $12.3 billion. In addition, foreign gold and dollar reserves
were spent here at the annual rate
of $900 million. The total value of
goods and services obtained by foreign countries from the United
States reached the annual rate of
$13.2 billion. This was $2.2 billion
less than the rate for the year 1945.
This article presents the first in a
series of quarterly statements of the
balance of international payments
of the United States prepared by the
International Economics Division,
Office of Business Economics. Other
Department of Commerce data used
in making these estimates include
the trade statistics compiled by the
Bureau of the Census and data on
U. S. Government transactions collected by the Clearing Office for Foreign Transactions; also used were
certain capital movements statistics
collected by the Treasury Department.
which was intensified after VJ-Day when
exports of military items virtually ceased.
On the other hand, although goods actually imported into the United States
continued to increase, total acquisitions
of merchandise from foreign countries
remained practically unchanged from
the fourth quarter of 1945 as a result
of reduced requirements for foreign supplies by our Armed Forces operating
abroad.
Compared to the rate for the entire
year 1945, the net surplus of merchandise exports declined during the first
three months of 1946, but this was compensated by an increase in net exports
of services. On goods and services together, therefore, the net balance during the first quarter of 1946 did not differ significantly from the 1945 rate. The
sharp decline of "straight" lend-lease
as a means of financing our export surplus was only partly offset by increasing
contributions through UNRRA and private channels. Part of the remainder
was covered by Government loans and
credits of several kinds, including Export-Import Bank loans, lend-lease and
surplus property credits, and civilian supplies furnished by the Armed Forces. As
shown in table 1, however, $267 million
was left to be paid for through reductions in foreign gold holdings and
through short-term capital movements.
Depletion of foreign gold and dollar
reserves may not continue at the first
quarter rate for the balance of the year.
A large part of total goods transferred
will go to countries which are dependent on long-term loans to finance a
major part of their import needs. On
the other hand, many countries which
are selling us goods and services may be
unable to spend all their dollars because
of supply limitations in the United
States.
Transfers of Merchandise
Exports Increase
Although still only two-thirds of the
quarterly peak reached during the second quarter of 1945, the total value of
goods transferred to foreign countries
during the first quarter of 1946 increased by $115 million over the preceding quarter. (See table 2.) A rapid decline of exports through government
channels, principally lend-lease, was
more than offset during the first quarter
July 194G
of 1946 by a significant increase of sales
to foreign countries by private business
enterprises. A large part of the exports
was still handled by foreign government
purchasing missions, but most foreign
countries either have now reestablished
private trading or will do so in the near
future.
Compared with the last quarter of
1945, the decline in government exports was primarily in credit lend-lease
which consists of deliveries on lendlease contracts placed before VJ-day
and financed through special credits.
"Straight" lend-lease, most of which
went to China, increased, but consisted
almost entirely of transfers of field
stocks of the Armed Forces. Sales of
U. S. government corporations, primarily the Commodity Credit Corporation,
increased as a consequence of larger
purchases of agricultural products by
foreign governments. Transfers to
UNRRA remained at the relatively high
level reached at the end of 1945.
The total increase of recorded exports
from the last quarter of 1945 to the first
quarter of 1948 amounted to about $450
million. To this total increase exports of
crude materials contributed $50 million,
foodstuffs $200 million, and finished
manufactures the remaining $200 million.
Among crude materials, cotton and tobacco showed the largest rise, and among
foodstuffs meat and dairy products. The
increase of the exports of finished manufactures was scattered among several
types of products, but was most prominent in machinery and textile lines.
Prewar Pattern Changed
The distribution of exports by economic
classes during the first three months of
1946 was representative both of the longrun trend and the special conditions arising out of the war. These, to some extent, are similar to those immediately
following the last war. (See table 3.)
According to the long-run trend in the
distribution of our exports, the share
held by foodstuffs should decline, while
the share held by manufactured products
should rise. Assuming that the economic
forces which produced these long-run
trends in the United States as well as in
the rest of the world are still active, the
nature of our exports during the first
three months of 1946 must be considered
of only temporary significance.
Larger Shipments to Europe
Exports to Europe increased by about
$270 million, of which $85 million went
to the United Kingdom; exports to Asia
by $108 million, most of which went to
China and the Philippines; and exports
to South America by $48 million.
Because of extensive loans and priorities on certain goods needed for relief
G96891—46
3
SURVEY OF CURRENT BUSINESS
17
Table 1.—International Transactions of the United States, 1945 and January-March 1946
[Millions of dollars]
1945
Transaction
First
quarter
Second
quarter
Third
quarter
Fourth
quarter
11,861
533
3, 009
3,496
136
762
3,668
130
915
2,393
135
659
2, 304
132
673
2,419
146
754
15, 403
4,394
4, 713
3,187
3,109
3,319
2, 636
1,022
1,064
505
45
71
477
30
86
192
30
62
137
125
Total
Receipts:
Goods and services:
Goods
Income on investments
Other services.. _
- _
_
_.
Tota 1 goods and services
Unilateral transfers
..
Long-term capital:
Movements of U. S. capital invested abroad..
Movements of foreign capital invested in XT. S _
Total long-term, capital
Total receipts
Payments:
Goods and services:
Goods
__
.
Income on investments
Other services
_
___ _
Total goods and services
Unilateral transfers
_
Long-term capital:
Movements of U. S. capital invested abroad..
Movements of foreign capital invested in U. S.
Total long-term capital
Total payments
.
_
__ _ _
Excess of receipts (+) or payments (—):
Goods and services .
Unilateral transfers
_.
_ _
. . . __
Goods and services and unilateral transfers
Long-term capital
All transactions
Netflowoffunds on gold and short-term capital account:
Net gold movement
Net movement of U.S. short-term capital abroad._
Net movement of foreign short-term capital in U. S_
Net inflow (+) or outflow (—)
Errors and omissions
1946
First
quarter
507
86
222
62
137
125
18, 546
5,502
5,999
3,754
3,291
3,515
5,515
161
3,188
1,431
34
1,036
1,586
38
1,128
1,372
37
598
1,126
52
426
1,135
38
571
8,864
2, 501
2,752
2,007
1,604
1,744
8,606
3,122
3,233
1,322
929
972
2,139
143
218
91
330
3
858
29
733
20
414
149
2,282
309
333
887
753
563
19, 752
5,932
6,318
4, 216
3,286
3,279
+ 6 , 539
— 5,970
+1,893
-2,100
+1,961
-2,169
+1,180
-817
+1,505
-884
+ 1 , 575
-901
+621
-616
+569
-1,775
-207
-223
-208
-111
+363
-825
-1,206
-430
-319
-462
+463
— 177
+1,322
+159
-10
+386
+124
-176
+582
+188
+113
+307
-8
-104
+47
-269
+92
-90
+ 1,608
+535
+530
+608
-65
-267
-105
-211
-146
+60
-402
+5
+674
-438
+236
+31
Table 2.—Goods Transferred to Foreign Countries
[Millions of dollars]
1945
Transaction
Total
Total goods transferred
First
quarter
1946
Second
quarter
quarter
Fourth
quarter
Third
First
quarter
11,861
3,496
3,668
2,393
2,304
2,419
Through U. S. Government channels _ _
UNRRA
"Straight" lend-lease __ ._ _
Reimbursable and credit lend-lease
Surplus property sales
Sales and transfers bv the Armed Forces. . . .
Other sales by U. S. Government corporations and
agencies
_._..
_ . _ ._ _
8,479
395
5,404
1,455
98
777
2,758
5
2,450
157
2,951
10
2,340
179
1,537
101
530
649
130
225
222
1,233
279
84
470
98
200
970
278
199
138
42
157
350
16
196
35
103
156
Through private channels
3,382
738
717
856
1,071
1,449
NOTE: Recorded total exports for the same periods were (in millions of dollars): 1945—year, 9,805; first quarter, 2,820;
second quarter, 3,011; third quarter, 2,145; fourth quarter, 1,830. First quarter 1946, 2,287.
and rehabilitation purposes, exports to
Europe and Asia will probably continue
to rise faster than exports to other areas.
Decline in Imports Stopped
Goods obtained from foreign countries
declined steadily from the second quarter of 1945 to the end of the year. (See
table 4.) This decline was due to the reduced needs of our overseas forces. Most
of the supplies obtained abroad for these
purposes was received under reverse lendlease. Data for the first quarter of 1946
indicate that the decline in goods transferred to the United States has been arrested. The fact that recorded general
imports show an increase of $130 million
from the last quarter of 1945 to the first
quarter of 1946 and that total goods obtained abroad increased by only $9 mil-
SUEVEY OF CUEEENT BUSINESS
18
lion (see table 4) can be explained in the
following way: A part of the recorded
imports came from government stockpiles procured during an earlier period
and are, therefore, not shown in the
procurement figures of this period. Furthermore, procurement of supplies for
use abroad and not registered in the import statistics declined.
Government Purchases Reduced
The ratio of purchases through Government-owned corporations to imports
by private enterprises declined from 30
percent in 1945 to 22.8 percent during
the first quarter of 1946. Of the various procurement programs by Government corporations, only a limited number are being continued in 1946. The
principal ones are for the procurement
of sugar and rubber. Other continuing
Government procurement programs include certain nonferrous metals such as
copper, lead, and tin; molasses and alcohol; certain fibers; hides and skins;
and other scarce agricultural commodities.
The rise of imports for consumption,
amounting to $143 million, was evenly
divided between crude materials and
semimanufactures (49 percent) and
foodstuffs (51 percent). The greatest
rise in the first group was shown by crude
rubber ($36 million), tobacco ($22 million), and undressed furs ($22 million),
while copper showed a decline of $24
million. Among foodstuffs, the rise was
divided between coffee ($24 million) and
sugar ($31 million). Of the total increase of imports, Asia accounted for
$78 million, Europe for $25 million, and
North America for $21 million. Imports
from the USSR and the United Kingdom
rose by $36.5 million and were $11.5 million greater than the increase from all
Europe. Imports from Sweden and
Switzerland declined by about $15 million and $9.5 million, respectively.
The analysis of the rise of imports by
commodities and countries of origin indicates that the principal increases came
in commodities produced in areas which
were unable to export to us during the
war. It is likely that such imports will
continue to rise as reconstruction abroad
progresses and the domestic demand is
maintained.
Table 3.- -Exports by Economic Classes
Percent Distribution
Economic class
First
quarter
1946
1919
1929
Crude materials
Crude foodstuffs
Manufactured foodstuffs^
Semimanufactures _ . _.
Finished manufactures...
13.4
8.6
20.8
9.1
48.1
20.94
8.75
25.32
11.90
33.08
22.15
5.23
9.40
14.13
49.09
1937
22.16
3.17
5.39
20.28
49.00
July 1946
Chart 1.—-Imports for Consumption, by Economic Classes,1 in 1939 Prices
Related to National Income in 1939 Dollars
i.o
FINISHED MANUFACTURES
£.4
o
o
60
120
160
fe.er
MANUFACTURED F O O D S T U F F S ,
®44
•&t*m ••
®4S
®42
0
•6
GRUDE
40
80
120
I
1
i
160
FOODSTUFFS
.4
43
®*
.2
O
!
40
!
80
-
1
120
160
O
40
NATIONAL INCOME IN BILLIONS OF 1939 DOLLARS
.4
80
120
160
D. D. 46-445
1
Regression lines were fitted to data for 1921-38. Data for 1946 are preliminary estimates for
the first quarter, at annual rate.
Source of data: U. S. Department of Commerce.
Income Influences Imports
To a large extent, the demand for imported goods depends upon business
activity or national income. Chart 1 indicates the relations between imports by
economic classes and national income,
both in terms of 1939 prices. The lines of
regression represent the average relationships between imports and income
in constant (1939) prices for the years
1921 to 1938. The proximity of the points
representing the years 1921 to 1938 to
the line of regression indicates the extent to which there was an interdependence of imports and income. As may
be seen from the charts, the interdependence is higher for semimanufactured materials and finished manufactures than for crude and manufactured
foodstuffs. Imports of foodstuffs depend
not only upon domestic incomes but also
upon crop conditions here and abroad.
Imports Declined During War
During the war years, imports declined
in relation to national income. For
finished manufactures and foodstuffs the
relative decline lasted roughly until 1942,
when the occupation of territory by
enemy forces reached the crest. Imports
have not yet recovered from the relatively low level reached during that year
mainly because reconstruction of these
areas has not progressed far enough.
Imports of semimanufactures and
crude materials reached the point
farthest from the line of regression during 1944, but since that date they have
shown some recovery. The recovery is
most pronounced in the case of crude
SURVEY OF CURRENT BUSINESS
July 1046
materials, perhaps because less reconstruction of facilities is needed to increase production of unprocessed goods.
Imports Not Yet Recovered
Imports which are calculated for the
first quarter 1946 on the basis of the
line of regression, as seen in Chart 1,
are translated into current prices and
shown next to actual imports for each
commodity class in Chart 2.
The differences between the two columns indicate the extent to which actual
imports are below the demand for imported goods if prewar relationships
between imports and national income
still prevailed. The deficiencies appear
to be relatively and absolutely greatest
in the finished manufactures, one-half
of which came from Europe before the
war. Imports of crude foodstuffs show
the smallest absolute and relative deficiency, because most of these imports,
such as coffee, came from countries
whose productive capacity has not been
impaired by the war.
Imports Likely to Rise
Assuming that our real income will
continue at present or higher levels, imports can be expected to rise. Chart 2
indicates that the rise should be most
pronounced in those commodity classes
in which the gap between actual and
computed imports is greatest. In the
near future, however, imports of crude
materials will probably rise faster than
imports of other commodities because
production of these materials will be restored sooner. It will take a longer
Table 4.—Goods Obtained From Foreign Countries
[Millions of dollars]
Transaction
Total
Second
quarter
quarter
Fourth
quarter
1,126
Third
First
quarter
5, 515
1,431
1,586
1,372
2,682
1,382
64
825
538
855
581
641
259
361
. 4
64
251
853
383
172
115
194
80
263
119
224
69
200
51
Through private channels
2,833
606
731
731
765
884
Total goods obtained.
1,135
NOTE.—Recorded general imports for the same period were (in millions of dollars): 1945—year, 4,136; first quarter,
1,024; second quarter, 1,098; third quarter, 1,050; fourth quarter, 964. First quarter 1946,1,096.
period of time for imports of processed
goods to show a substantial recovery.
Whether the level of imports calculated on the basis of prewar relationships
will be reached depends upon two factors
which partly cancel each other: (1) the
extent to which changes in technology
have made us less dependent upon foreign sources of supply, and (2) the extent
to which our own resources have to be
supplemented to facilitate operation of
our economic system at full capacity.
For these reasons, the deficiencies which
appear in Chart 2 should be interpreted
as indications of the direction and rough
magnitude of changes of future imports
rather than as firm estimates.
Income on Investments
The Department of Commerce has recently inaugurated reporting systems
designed to obtain quarterly data on
BILLIONS OF CURRENT
I
CRUDE FOODSTUFFS
SEMIMANUFACTURES
FINISHED
MANUFACTURES
MANUFACTURED
FOODSTUFFS
Calculated on the basis of the relationships used in chart 1, converted to current dollars.
Source
of date: U. S. Department of Commerce.
First
quarter
Through U. S. government channels
Reverse lend-lease and reciprocal aid
Reimbursable reverse lend-lease
Purchases through government corporations and
civilian agencies
Military purchases
CRUDE MATERIALS
1
1946
1945
Chart 2.—Actual and Calculated Imports for Consumption in Current
Dollars, First Quarter 1946, at Annual Rate
ECONOMIC CLASS
19
income received and paid on private international investments. Current estimates based on these reports are not yet
available; consequently the figures presented in table 1 are based largely on
annual data for 1944 and prior years,
adjusted in the light of overall economic
trends and known changes in the international investment position. Interest
payments on the large postwar foreign
loans and credits of the United States
Government will probably be accruing at
an annual rate of $80 million by the end
of 1946 although actual receipts to the
end of March were relatively small.
Other Services
The war not only increased the international transfer of merchandise between the United States and other countries, but also the transfer of services.
The biggest increase, as may be expected,
occurred in transportation because of the
greatly increased transfer of goods, and
in miscellaneous services rendered and
received abroad by United States Government agencies, mainly the armed
forces. During 1945, the total of services
rendered and received was approximately
equal. (See table 5.) Since a larger
part of the services was rendered under
lend-lease than was received under lendlease in reverse, we owed foreign countries for all service transactions approximately $800 million.
The total of services rendered did not
change materially with the termination
of hostilities. The end of straight lendlease, however, eliminated shipping services without monetary compensation except on shipments of relief goods for
UNRRA. Government services on lendlease were continued only for China.
Services received declined by about
$900 million at an annual rate, primarily because of the smaller size of the
armed forces in overseas areas. A large
part of these services was rendered to
our armed forces by former allies and cobelligerents and, after VJ-Day, had to
be paid for in dollars. Prior to that time,
goods and services furnished directly to
SUEVEY OF CURRENT BUSINESS
20
the armed forces in most allied countries, as distinguished from purchases'
by its individual members, had been in
effect on a reciprocal aid basis. Because
of these changes, the annual rate of net
expenditures on all services declined in
the first quarter of 1946 to only $80 million, or one-tenth of the 1945 rate.
Shipping Receipts Down
Shipping receipts declined somewhat
in spite of the increase in the tonnage
exported, by all methods of transportation, from 187 billion pounds in 1945
to an annual rate of 213 billion during
the first three months of 1946. The decrease in receipts can be traced to the
lower freight rates resulting from the
reduction or elimination of war surcharges, to the shift to exports of commodities which move at lower rates, and
to the lowering of the abnormally high
proportion of goods carried in United
States vessels during the war.
The Maritime Commission has announced that as of June 15, 1946 the
temporary reserve fleet of the United
States numbered 1,263 vessels. Most of
these vessels had been withdrawn because they were not currently needed in
active service, although some where
damaged or overage.
The increase in payments for shipping
services also reflects the greater participation by foreign vessels in the carriage
of United States trade. Foreign fleets
will be rebuilt either by new construction or by purchases of surplus United
States vessels, and net shipping receipts
can be expected to continue to decline.
Postwar Travel Expands
Foreign travel expenditures by United
States residents during the first quarter
of 1946 showed an increase of about onethird over the corresponding period of
1945. Restrictions on travel, particularly
for business purposes, are gradually being reduced, but travel for less essential
reasons, except to Western Hemisphere
countries, is still subject to official limitations. Sea transport facilities for passengers have not yet been reconverted to
a peacetime basis and air transport does
not at this time have the capacity to
carry all the passengers who wish to
travel overseas. In 1945, however, oversea travel by air exceeded oversea travel
by surface vessel. (See table 6.)
Table 6.—Number of Passengers to
Oversea Areas
Year
By Air
By Ship
632, 304
552, 752
90, 319
4,000
23, 718
133,822
1929
1927
1945
Food supplies, housing accommodations, and transport facilities abroad are
not yet available to accommodate the
prewar volume of tourist travel, not to
speak of the increase that should be expected from the higher incomes in this
country and the pent-up demand caused
by the interruption of civilian travel during the war years.
Vacation travel to Canada and Mexico,
however, will probably surpass all previous records during 1946. Official Mexican statistics place tourists (mostly
from the United States) entering the
country during the first quarter of 1946
at 63,600, surpassing the previous high
of 42,100 for the comparable period in
1940. Canadian resorts are reportedly
booked to capacity for the season, indicating that United States travel expenditures in Canada will well exceed the
post-depression record of $149.5 million
in 1945.
Table 5.—Service Transactions in the United States Balance of Payments
[Millions of dollars]
Services rendered
Period
Total
1945
Transportation
Travel
Miscellaneous services:
U. S. Government
Private
- - - . . _
Total
__ . __.
.
..
-
Services received
Without
moneFor cash
tary
compen- or credit
sation
Total
Without
monetary
compensation
For cash
or credit
1,290
158
659
631
158
400
309
135
265
309
1,294
267
1,128
- -
2, 367
112
1,010
1,357
112
-
3,009
1, 787
166
267
1. 222
3,188
1,145
2,043
1,200
164
145
445
2G0
1,338
314
780
1,055
164
558
314
3,016
925
FIRST QUARTER 1946 (AT ANNUAL RATE 1 )
Transportation
Travel
Miscellaneous services:
U S Government
Private
~
Total
i Unadjusted for seasonal variation.
--
2,091 1
1. 485
445
260
113
1,372
113
2,171
' 94
2,284
94
July 1948
Military Payments Reduced
Services received abroad by the Government consist primarily of foreign
labor and other services used by the
Army and Navy and of personal expenditures of troops stationed abroad. The
need for foreign services declined sharply
in recent months because of the cessation of active warfare and the reduction
in the number of troops abroad. The
armed forces, as such, did not have to
pay for most services rendered by our
Allies as long as lend-lease and reverse
lend-lease arrangements were in force,
that is, until the end of August 1945.
Personal expenditures by the troops in
Allied countries, however, were always
compensated for in dollars. In former
enemy countries, except Italy, Army expenditures, including troop pay spent
locally, are in effect borne by the occupied country and do not increase the
supply of dollars in foreign hands.
Services rendered by the United States
to foreign countries consisted primarily
of various lend-lease transactions, such
as training of pilots and repair of vessels, transport of troops, and various
services by the armed forces in the field.
Gifts and Unilateral Transfers
As indicated above, not all goods and
services transferred to other countries
or received from other countries have
to be compensated for by a movement
of goods and services in the other direction, by credit, or by gold shipments. In
order to determine the net balance of
payments between the United States and
foreign countries, the transactions for
which such compensation does not have
to be made, here classified as "unilateral
transfers", have to be deducted from
the value of all transactions. In principle, unilateral transfers may take two
forms. The commodities or services may
be given or received directly without
compensation, or, money may be donated with which the foreigner may
choose what—and when—he wants to
buy. Most of the lend-lease transactions
and contributions to UNRRA fall into
the former categoryi while personal and
institutional remittances ordinarily take
the latter form. During the immediate
postwar period, however, personal aid
through relief goods sent directly became important.
"Straight" lend-lease and lend-lease
in reverse, with few exceptions, stopped
after the cessation of hostilities. Aid to
destitute Allies through UNRRA, including not only merchandise but also the
ocean freight thereon, increased considerably after the third quarter of 1945.
It should be noted, however, that only
$956 million of the total United States
SURVEY OF CURRENT BUSINESS
July 191G
Table 7.—Gifts and Unilateral Transfers
[Millions of dollars]
1945
Item
Second
quarter
Third
quarter
Fourth
quarter
3,122
2, 971
12
5
134
3, 233
2,907
60
124
142
1,322
870
167
149
136
929
368
323
86
152
2,636
1,022
1,084
505
45
2,584
52
1,012
10
1,052
12
491
14
29
16
Total
To foreign countries
''Straight'' lend-lease
UNRRA
Other government aid and settlements
Personal and institutional remittances
From foreign countries
Reverse lend-lease and other government transactions
Private remittances
appropriation to UNRRA of $2,700 million had been transferred by the end of
March 1946. Private aid through personal and institutional remittances increased steadily throughout the year
1945 and the first quarter of 1946.
Long-Term Capital Movements
With the practical cessation of
"straight" lend-lease on VJ-Day, the
problem of financing necessary imports
from the United States faced most of
our European and Asiatic allies. Lendlease aid had not been limited to military
materiel but included large amounts of
foodstuffs and other goods required for
the maintenance of the civilian economy
and hence the productive capacity of the
recipient countries. At the end of the
war a large volume of these commodities
was in the "pipeline"; requisitions had
been approved and contract placed but
the goods were somewhere in the process
of manufacture or delivery. Allied countries had the option of canceling these
requisitions or accepting delivery and
making payment over a specified period
of time in accordance with agreements
negotiated under the authority of the
Lend-Lease Act, section "3 (c)". Such
agreements were negotiated with France,
Belgium, the Netherlands and the Soviet
Union, and a special over-all settlement
agreement with the United Kingdom included provisions for delivery of the
"pipeline". Although accurate data are
not yet available, estimated transfers of
lend-lease goods on credit terms were
$300 million in the fourth quarter of 1945
and $133 in the first quarter of 1946.
(See table 8.)
The Export-Import Bank authorized
loans of $655 million to France, Belgium,
and the Netherlands to finance the purchase of goods requisitioned under the
lend-lease program for which contracts
had not been placed as of VJ-Day. Actual disbursements on these loans, which
are generally made on delivery of the
goods, amounted to $15.6 million on December 31, 1945; an additional $117.4
million was drawn during the first quarDigitized for
ter FRASER
of the present year.
1946
8,606
7,116
562
364
564
First
quarter
Firsc
quarter
972
394
394
18
166
48
23
Foodstuffs, medicines, and other essential civilian supplies were distributed by
the armed forces in liberated and occupied countries under arrangements
whereby the countries concerned were to
be billed for the goods. The value of
these supplies has been entered in the
balance-of-payments statements as a
long-term credit. (See table 8.)
Private long-term capital movements
during the first quarter of 1946 remained
small, with no decisive movements in
either direction.
Gold and Short-Term Capital
Movements
Loans and unilateral transfers were
not large enough to settle the total export balance on goods and services during the first quarter of 1946, and foreign
countries, especially France, were compelled to draw on their gold and dollar
reserves. The loss of dollars was by no
means universal, however, and some
countries continued to increase their
Holdings. Detailed data for individual
countries are not yet available for the
first quarter of 1946, but data for the
first six postwar months indicate that
Canada, the United Kingdom, and
France suffered a combined loss in gold
and dollars to the United States of auout
$660 million. Other countries, principally Switzerland, the Philippine Islands,
and certain of the American Republics,
increased their holdings in the net
amount of about $700 million.
21
Prospects for Remainder of Year
The first quarter of 1946 shows some
of the features which can be expected to
characterize the year as a whole. Exports from the United States are likely to
continue to increase during the remainder of the year. In addition to increased
quantities of some goods, higher prices
may boost the value of exports for the
entire year to $10 billion-$10.5 billion.
In addition to exports, we may sell or
otherwise transfer from surplus and
other stocks abroad about $2 billion of
merchandise. For shipping, service
charges on United States investments
abroad, travel and miscellaneous services,
foreign countries will need about $2.5 billion. Total transfers of goods and services, therefore, may amount to about
$14.5 billion-$15.0 billion in 1946. Approximately $3 billion of these goods
and services, however, will not require
compensation. This includes about $1.8
billion to be financed through appropriations to UNRRA. Aid to China and the
Philippines and private remittances will
probably account for the other $1.2
billion.
The remaining $11.5 billion-$12 billion would be obtained by foreign countries in part through our own purchases
of merchandise, which may increase to
$5.2 billion, and purchases of services,
which may reach another $1.8 billion.
Most of the remaining $4.5 billion-$5.0
billion will be available through loans.
Surplus property credits may account
for as much as $700 million-$800 million;
credit under the Lend-Lease Act for $600
million; Export-Import Bank loans for
$1,500 million-$l,700 million; utilization
of the loan to the United Kingdom, for
$600 million-$800 million; and various
private and other government loans for
about $600 million.
Loans would thus total about $4 billion
to $4.5 billion, leaving about $500 million
to be financed through the sale of
gold or liquidation of short and longterm* foreign assets in this country. In
view of total foreign reserves of over $15
billion of gold and about $7 billion in
liquid dollar balances, a drain of this
magnitude upon foreign reserves would
not be significant.
Table 8.—Long-term Loans and Credits to Foreign Countries by U. S. Government
[Millions of dollarsl
1946
1945
Item
Total
First
quarter
Second
quarter
35
2
New disbursements1 by Export-Import Bank
2
938
32
33
Lend-lease credits
83
Surplus property credits l _
Credit on civilian supplies furnished by the armed
555
75
150
forces
184
110
1,611
Total new loans _
94
27
Less repayments of former loans
26
Net Government credit.
84
1,517
157
1
Including corresponding items infinancialsettlement with the United Kingdom.
Third
quarter
Fourth
quarter
First
quarter
6
* 573
25
300
i 83
137
133
9
180
759
9
150
558
32
111
750
526
372
390
18
SURVEY OF CUEEENT BUSINESS
22
The Prospective Labor
Supply
(Continued from p. 15)
will have to become available as veterans
return in order to avoid pushing these
war workers out of the labor force.
It is difficult to quantify the foregoing
influences. If, however, we assume that
the school age group and those over 65,
in continuance of their trends, drop
most of the way back to their norms and
that there are moderate withdrawals
among the 20 to 34-year old women, a
figure of about one million further withdrawals is reached. This is thought to
be a likely estimate. However, it assumes
a sufficient increase in the number of
jobs so that returning veterans will not
push older persons up to 65 years of age
out of the labor force; it does not assume
a sufficient increase to induce any backflow by those who have already withdrawn from the labor force. The development of a better employment situation
than that assumed can cause this estimate to be too large. Conceivably, it
could also be too small, but the extent
of pent-up demand does not suggest a
deterioration of the employment situation below that assumed. In view of the
uncertainties, Table 3 which summarizes
the prospective changes in the civilian
labor force, makes use of a range rather
than a single figure. The resulting prospective rise amounts to 3 to 5 million if
we allow a range from a million additional withdrawals to a million re-entrees
by former war workers.
Labor force utilization as affected by
working hours and unemployment could
on balance rise somewhat. No increase
in hours is likely but the big postwar drop has a l r e a d y occurred.
The level is still above that of the prewar period, but the decline has slowed to
small proportions. Necessary frictional
unemployment should be much less than
in the past year because the job shifting
which was incident to a restoration of the
pre-war industrial distribution has been
virtually completed. Unemployment was
reduced to % million during the war.
Twice that amount would seem to be adequate for the frictions of a peacetime
economy. On the basis of the Bureau of
the Census estimates of the current volume of unemployment, such a level of
frictional unemployment would permit
the hiring of about a million people.
Included among the employed in March
1946, were % million people who were
either laid off or on strike. The size of
this group cannot be reduced to zero, but
in a less turbulent period it could be lowered. These potential increases of over
a million in labor force utilization have
the same effect as an equal rise in the
July 1946
New or Revised Series
Distilled Spirits, Apparent Consumption for Beverage Purposes: Revised Data for
Page S-25 i
[Thousands of wine gallons]
Month
1940
January
February..,
March
April
May
June
July
August
SeptemberOctober
Is ov ember. .
December-
1942
16.
144, 992
12,083
Monthly average
10,159
11,409
11, 758
12, 221
14,309
13, 501
12.807
13,413
16.950
10,918
13. 773
16, 941
16, 233
13. 834
13,939
13. 037
12, 572
12, 951
15.842
16, 490
19.285
27, 005
13.200
15.860
12, 390
12,464
13. 886
12.016
10,310
9, 810
10, 543
10.409
11.3~9
13,203
13, 603
15,446
11.574
12. 584
13. 855
11,513
12,530
11.934
12.625
14,639
13.751
15,955
16. 524
19, 227
158, 157
13,180 !
190, 248
15, 854
145.529 I
12,127
166.713
13,893
' Compiled by the Distilled Spirits Institute, Inc. The 1940-43 figures include final revisions: there may be further
revisions in the iipures for 1944. For a description of the data, see note 2 for p. 114 on p. 221 of the 1942 Supplement to
the Survey of Current iiusiness.
size of the labor force and can therefore
be added to the estimated increase of 3
to 5 millions.
The significance of the foregoing is
basically that over the next year or so
there probably will be a leeway for expanding employment with the estimated
increase in the labor force of 3 to 5
million by March 1947. Any reduction
in unemployment from the present volume will provide further leeway.
At the present time, increases in employment are not restricted to any great
extent by an inadequate supply of labor,
but rather by shortages of key materials, the necessity to replenish inventories, uncertainties regarding future
prices, and similar influences characteristic of a transition period. If the demand for goods were the determining
factor, the working margin in the prospective labor force could be readily absorbed over the next year. Thus, the
adequacy of the labor supply will be determined by the rapidity with which
workers can be absorbed as transitional
problems are resolved and the extent
to which output per man-hour is increased in the period ahead.
Business Situation
(Continued from p. 11)
to purchase durable goods before prices
are forced still higher. Moreover, it* has
been pointed out that while the ownership of liquid assets is highly concentrated, medium and low income groups
do possess a sizable amount of Government bonds and bank deposits. In the
event that rising prices should bring
these assets onto the market not only
would the spending of past savings add to
the inflationary pressures, but a large
volume of accumulated savings would be
dissipated in price increases and would
Electric Power Production:1 Revised
Data for Page S-26
(Millions of kilowatt hours)
B Y M,i-rce
Year and month
1943:
January
February
March
April
May
June
July
August
September
October
November
December
1944:
__.
Total I
17,0c4 1
If, 117 '
17
17
17
18,
18,
".404
11 2
10 .2
0
10 i
10, r
11, f
12,4
19
1 1
20
14 0"
1° "
i4 r>-
Total
Monthly average
1220 °70
18, 414
C27 ,
2 2
January
February
March
April
May
June
July
August
September
October
November
December
19,959
18, 812
19, 784
18, 622
I 19,074
I 18, 789
134 I
021 i
614 I
Total
M o n t h l y average
!2?0, 736 !l?4. 7*3
I 19,228 j 12,81-9
18, 989
19, 774
18 708
19, 233
19, 102
19, 831
i!
12, 830
13.819
13, 143
13, 297
13, 298
13,4-12
i H3
<, 7( 2
7.191
0 477
f,209
5 S
5 -02
r 0-5S
x '85
7^/43
(,162
5, Of 9
o, 044
7, 016
7,297
7, 267
6'298
5.988
5. 778
5,' 399
5 772
5,' 699
0, 206
74, 033
6,169
1
Compiled by the Electric Power Commissicn. Data
beginning January 1944 exclude a small amount generated
by electric railways and electrified steam railroads included in the earlier data.
not be available for future use by their
present owners.
On the other hand, if price changes are
contained in narrow limits, it seems
reasonable to suppose that liquid assets
will be largely retained by their present
owners. In that event, it is conceivable
that holders of liquid assets will be disposed to spend a larger share of their
current income and thus increase the
aggregate volume of consumer spending
in the post-transition period. The results of the survey appear to support this
view since people's expressed intentions
point toward a considerable reduction of
current savings on the part of owners of
large liquid assets.
SURVEY OF CURRENT BUSINESS
.Tnly 1040
23
1
Indexes of the Value of Manufacturers' Shipments and New Orders: Revised Series for Page S-2
[Average month 1939=100]
Shipments
N e w orders
O CD
Monthly average.
1940:
January
February_
March
April
May
June
July
August
September..
October
November
December
Monthly average
1941:
January
February
March
April
May
„
June
.
July
August
September
October
November
December
Monthly average
1942:
January
February
March
April
May
June
July
August
September
October.-.
November
December
Monthly average
1943:
January
February
March
April
__.
May
June
July
August
September
October
November
December
Monthly average
1944:
January
February
March _ _
April
May
June
July
August
September
October
November
December
Monthly average
164 1 198
181
186
197
199
203
202
208
214
226
229
233
243
220
240
245
251
264
267
277
285
299
303
316
342
213
108
82
86
83
86
91
85
98
74
108
117
121
134
148
100
79
84
95
102
94
129
84
85
83
97
130
137
130
123
92
108
112
120
113
77
89
97
103
103
102
95
95
103
108
113
116
100
100
100
100
107
100
106
101
110
104
134
lo'o
140
129
118
82
46
112
1G6
177
180
109
104
102
100
108
121
116
127
146
148
149
165
101
110
118
127
130
132
125
123
140
135
138
160
79
131
85
79
no
101
121
143
145
151
130
125
157
121
172
159
144
183
184
173
192
202
178
96
134
175
187
167
176
182
197
206
201
212
223
219
212
220
181
173
172
152
134
133
134
130
158
169
If
1 n
CD
128
131
150
157
153
158
161
175
206
200
215
293
154
211
171
223
228
201
204
195
205
241
248
248
257
8S0
1,096
1,111
1,235
1,393
., 415
, 579
1,711
1.817
,811
2,007
2,181
1,540
171
181
184
193
200
189
193
191
203
?03
192
189
154
166
165
163
161
157
160
166
175
178
175
175
165
178
173
168
166
165
165
167
181
175
176
178
193
168
233
226
256
250
255
251
259
251
261
263
269
269
276
314
356
350
360
361
369
366
373
371
378
381
393
221
240
228
242
259
274
272
282
264
279
298
318
226
249
253
248
246
249
245
249
250
249
243
261
371
270
257
271
268
274
264
273
263
264
269
278
273
284
364
384
377
389
371
383
373
366
372
380
374
390
299
301
274
383
247
250
234
247
244
248
235
248
245
243
253
252
249
260
250
160
172
164
160
167
166
172
183
192
191
188
188
206
213
2,06
219
225
233
246
213
243
258
261
278
306
334
397
276
226
251
248
261
259
249
246
251
263
267
268
262
320
406
381
416
390
413
433
419
434
451
437
531
357
408
397
399
403
425
398
412
410
414
393
414
2,101
2, 428
2, 375
2,461
2,501
',490
:,583
2,6?1
2,597
2,647
2,811
2,742
186
206
210
214
209
214
204
207
209
211
206
209
165
187
181
182
175
183
171
184
188
192
191
196
179
194
195
200
191
199
187
203
203
204
203
202
179
202
187
179
176
188
177
192
197
204
202
208
144
157
161
164
165
168
161
167
167
174
173
172
258
427
408 2,575
211
186
200
194
167
260
429
273
275
273
483
485
513
452
492
508
483
521
515
274
272
257
263
267
279
282
292
276
492
566
503
2,542
2,672
2,561
2,644
2,526
2,436
2,468
2,310
2,372
2,414
2,412
2,449
410 2,527
1C0
132
143
137
133
147
136
136
148
156
167
'219
177
198
202
209
189
188
187
193
199
203
202
207
134
151
155
154
147
140
141
148
159
168
159
154
19b
216
208
222
209
216
205
198
201
203
207
200
177
199
152
207
237
277
263
271
300
295
319
195
221
218
210
201
211
130
197
197
196
193
195
136
163
161
168
153
159
148
163
170
173
173
178
282
205
165
90
87
89
93
96
96
100
97
109
112
105
250
280
292
300
323
331
335
338
350
352
362
394
328
382
407
401
425
411
427
402
392
389
408
390
416
156
174
176
175
170
159
144
132
135
141
151
148
148
140
172
135
151
168
279
187
220
208
204
214
224
230
207
220
198
221
223
112
117
122
133
139
140
149
148
144
152
149
486
207
147
159
159
162
170
179
175
165
178
168
181
176
112
207
225
100
113
121
121
122
119
122
142
158
154
154
148
124
128
131
141
145
150
147
155
166
172
179
176
205
227
152
152
130
144
147
153
146
158
152
173
181
175
170
176
100
105
114
114
110
120
138
139
135
124
176
231
228
100
105
100
103
100
104
110
101
102
111
108
114
107
198
179
100
89
98
94
95
114
124
123
130
181
183
164
180
103
105
104
110
121
122
114
112
118
117
117
122
185
186
182
171
185
199
177
100
94
94
94
98
107"
117
108
111
146
144
139
137
100
97
99
100
99
103
107
99
103
122
112
114
109
194
206
213
208
201
225
216
229
252
174
172
174
100
92
104
105
93
93
93
91
114
125
119
125
122
100
105
101
104
109
114
112
104
103
130
122
123
119
106
156
89
91
100
100
98
101
102
98
102
103
97
107
123
117
120
118
107
115
117
122
128
136
131
139
161
151
151
148
91
101
102
95
85
85
87
88
108
129
129
128
131
106
100
132
136
136
150
154
103
154
154
174
166
166
160
80
79
91
89
100
100
113
90
90
88
92
97
91
90
120
133
118
98
114
119
100
112
121
125
130
134
139
136
148
164
158
158
155
o
82
75
85
76
84
83
78
84
176
165
118
95
92
93
95
92
92
94
91
95
112
118
118
112
116
w
81
77
85
82
87
92
95
89
154
144
115
99
96
95
96
97
96
94
100
126
108
101
97
12S
135
139
156
169
181
174
185
196
190
186
171
cy
87
89
88
92
98
95
92
143
123
107
98
92
91
93
92
93
97
91
97
119
121
112
101
144
140
144
139
141
141
154
149
142
139
141
147
156
158
159
163
166
168
173
169
177
160
198
206
207
208
204
219
210
219
213
221
210
215
182
193
193
194
190
196
187
193
198
208
203
210
199
205
206
204
204
208
200
207
207
218
211
214
207
214
204
208
200
200
203
206
216
227
217
225
162
175
176
172
174
179
165
178
172
180
179
177
170
176
178
215
199
210
214
177
189
184
179
192
194
185
187
192
189
203
107
97
96
119
114
104
111
100
9G
92
96
101
105
125
95
100
114
126
127
130
109
122
132
136
151
166
184
166
159
179
174
167
179
175
201
204
211
267
273
285
285
277
274
299
290
295
293
316
295
288
297
342
293
341
305
182
200
202
195
185
200
162
184
184
189
189
190
192
131
107
147
163
169
174
172
180
165
175
181
189
189
196
100
75
94
88
114
125
124
117
162
197
173
178
209
267
233
233
232
233
234
195
221
195
255
219
213
253
297
282
297
289
316
284
259
244
241
233
225
246
281
254
293
200
285
321
193
211
166
221
259
193
207
202
195
193
212
190
199
201
210
204
207
228
248
249
223
208
255
231
238
234
249
204
236
201
207
191
191
197
222
215
195
205
206
208
223
238
©
.a
s
o
82
94
100
94
91
88
87
104
119
115
116
111
94
96
93
93
94
91
99
120
114
110
106
178
152
173
92
86
92
93
95
9
2
92
102
97
85
84
93
87
97
120
118
114
110
80
85
88
90
97
99
96
106
121
124
114
99
256
306
319
374
385
436
446
494
587
636
710
853
257
303
303
113
114
122
127
131
118
122
138
136
150
166
129
81
86
83
90
82
99
101
99
106
119
124
132
129
232
295
309
290
314
289
292
282
292
302
88
88
90
94
148
167
180
192
192
219
203
209
236
225
235
269
230
235
233
236
(SCo
a. ^
t
li
.2.,-.
gl g^ 1
180
191
203
216
See footnote on page 24.
:ss *A
O-^
g.fcj
103
113
111
99
99
71
45
137
103
j 105
| 106
105
109
111
103
110
! 130
j 130
133
136
HO
t-l (
y—i
<
1939:
January
February._
March
April
May
June
July
August
September-.
October
NovemberDecember..
S
Durable goods industries
o
00 On
Is
sS
So
Nondurable goods industries
•ical
er;
a
ach-
Year and month
etals
Lucts
t and
Durable goods industries
no
106
in
118
142
145
159
176
202
187
215
148
88
86
130
139
119
120
100
100
107
103
104
110
128
129
145
218
213
164
230
146
237
266
274
197
240
247
212
239
258
248
231
243
256
218
281
239
222
258
309
241
245
274
364
327
359
418
506
452
391
435
552
514
468
307
457
199
231
226
225
274
03
"C o
o
3
o
78
75
81
82
88
100
118
95
154
129
108
92
93
92
92
92
96
102
65
95
136
110
102
97
100
100
89
113
87
93
114
117
112
127
97
92
94
99
102
112
99
100
125
121
124
112
106
184
149
147
145
123
156
159
159
165
177
185
205
180
202
173
163
167
175
196
198
202
220
226
122
122
137
137
143
152
141
140
153
150
157
147
142
311
358
191
202
204
198
420
219
202
?34
380
233
382
183
202
161
166
163
177
160
156
157
161
175
180
191
185
169
219
239
228
199
220
244
206
260
243
282
214
182
301
383
270
297
280
639
406
313
327
384
261
334
293
287
383
282
158
186
264
252
221
195
166
184
199
197
197
200
197
192
189
206
204
198
209
171
183
173
178
184
185
165
175
181
187
204
188
234
228
350
198
181
248
195
202
215
265
227
213
231
230
214
232
276
173
185
168
196
304
203
183
245
201
200
212
216
473
196
177
181
188
185
186
196
209
184
188
191
204
218
216
229
207
349
445
352
394
352
392
303
319
383
331
364
237
348
395
375
266
348
253
383
145
230
279
247
276
234
280
279
231
264
528
281
204
195
173
202
197
193
191
201
169
196
211
192
196
SURVEY OF CURRENT BUSINESS
24
July 1946
of pe•troI and coal
§
Pror
03
Is and al lied
•oducts
G
p
publish
ed industr;
d allied pi
ucts
nd k i n d red
•oducts
C3
tf
o
manufacti
ou. ft
c
Tob
Prin
anc
+3
Foo
%
a
1
Leat
P Q
and other
?tile produ cts
1
ishe
fcJO
App
Stone, clay, and glass
products
Furniture and finished
lumber products
Lumber and timber
basic products
Nonferrous metals and
products
Transportation equipment, except automobiles
Automobiles
Machinery, except
electrical
Electrical machinery
and steel and
their products
Iron
Durable goods, total
Year and month
T^
R
OOi
All manufacturing
Production-Worker Employment and Pay Rolls in Manufacturing Industries: Revisions for Pages S-10 to S-13 1
o
ESTIMATED NUMBER OF PRODUCTION WORKERS (THOUSANDS)
Monthly average:
1944...
!_..
1945
1944: January
February
March
April
May
June
II.I
July.
August
September
October
November
December
I
14,126 8,506 1,734
12, 250 6,809 1,525
765 1, 246
622 1,080
732 2,393
590 1,454
436
377
516
509
352
333
332 5,621 1,130
318 5,441 1,075
934
921
319 1,090
316 1,067
84
82
319
317
326;
327
660
611
131
135
204
197
14, 609
14, 585
14, 433
14, 234
14,113
780
788
786
778
772
774
766
761
756
746
737
733
781
771
759
746
734
728
718
725
718
701
697
706
2,611
2,592
2,551
2, 513
2,479
2,418
2, 363
2, 323
2, 264
2, ""
2,194
2,188
466
463
455
444
440
438
432
430
421
414
412
413
508
510
512
509
513
520
529
533
520
513
515
511
362'
360'
357
351
348
352
353
355
346
345
346
349
347
344
340
336
331
332
330
329
323
320
322
324
1,179
1,181
1,170
1,147
1,131
1,125
1,111
1,105
1, 098
1,095
1,105
1,117
930
942
948
929
918
934
912
932
930
942
941
1, 036
1,030
1,020
1,023
1,029
1,063
1,148
1,193
1,201
1,145
1,106
1,086
88
87
944
320
322
323
321
318
320
319
318
315
315
317
319
83
84
85
327
326
324
320
318
318
319
317
312
313
316
321
331
3311
329
325j
322|
324|
326
324
319
324
326
328
690
698
673
6561
646|
637i
637 i
642|
647 j
6561
663
678
125
127
127
128
130
132
134!
135!
133!
132|
132
133
207
208
208
203
202
201
201
202
201
201
204
206
712 2,173
711 2,134
415
421
512
516
348
351
323 5,581 1,109
3221 5,583 1,102
934
941
319 1,047
318 1,033
82
82
319
320
324 j
323!
133
134
209
210
98.8 118. 2
94.0 116.7
91.9 127.6
91.1 124.8
14,110
14,078
14,093
13,936
13, 801
13, 735
13,789
1945:2 January...
February.
8, 931 1,769
8, 894! 1,768
8,793 1, 750
8, 669 ], 729
8, 592i 1,724
8, 550! 1, 734
8,468 1,736
8,427 1,740
8, 286 1, 723
8,181 1,711
8,125 1,704
8,154 1,721
13, 736 8,155 1,729
13, 725 8,142 1,741
1, 207
1, 298
1,283
1, 263
1,251
1,254
1,241
1, 231
1,215
1,206
1,198
1,209
729 1,214
728 1,218
5,678
5,691
5, 640
5, 565
5,521
5, 560
5,610
5,666
5, 650
5,620
5,610
5,635
83
83
82
83
83
82
82
INDEXES OF PRODUCTION-WORKER EMPLOYMENT (1939 = 100;
Monthly average
1944..
1945
172.4 235.6 174. 9 295. 2 235.9 182.0 1,508.0 190.0 122. 8 107.3 112.9 122.7
149.5 188.5 153.8 240.1 204.3 146. 6 916.4 164.6 121.1 101.7 108 4 118.8
1944: January
February..
March
April
May
June..
July
August
September.
October
November.
December..
178.3
178.0
176.2
173.8
172.3
172.2
171.9
172.0
170.1
168.5
167. 7
168.3
1945:2 January...
February.
167.7 225.8 174.4 281. 2 229.8 176.9ll,369.2| 181.1 121.7} 106.2 109.9 121.8 97.0 118.3
167.5 225.5 175.6 281.0 230.6 176. 8|l, 344.61 183. 8; 122.7 107. Oj 109.6 121.9 96.4 119.2
247.3
246.3
243.5
240.1
237. 9
236.8
234.5
233.4
229. 5
226.6
225. 0
225.8
178.4
178.3
176.5
174.3
173.9
174.8
175. 0
175. 5
173.8
172.6
171.8
173.5
301.1
304. 0
303, 5
300.2
298.1
298.5
247. 4
245. 71
242.8
239. 0
236. 7
237.3
295. 81 234. 9
293.8! 233. 0
291.6! 230.0
287. 71 228.2
284. 6 226. 7
282.9' 228.8
194. 2 1, 645.1
191.7 1, 632. 9
188. 6 1, 607. 5
185. 4|l, 583.5
182.4 1, 561. 8
181.0 1 523. 2
178. 5 1. 489.1
180.1 463.5
178.5 426. 5
174.2 1,401.9
on
173.3H , o382.1
•*
175. 6il., 378. 7
203. 5 120.8
201.9 121.4
198.4 121.8
193.7 121.1
191.9 122.0
190.9 123.8
188. 5 125. 9
126.8
187.
183.5 123. 6
180.5 122.0
r> r
122.4
'"~
179.5
180.0 121. 6
110.2 118 1
109.8 117 1
108.9 115 9
107.1 114 4
106.0 112 7
107. 3 i 113.2
107.6i 112.6
108.3' 112.1
105.6 110.0
105.1 108.9
105.6 109.6
106.4 110.4
123. 9
124.2
123.1
121.5
120. 5
121.4
122.5
123. 7
123.3
122.7
122. 5
123.0
103.1
103.3
102.3
100.3
98.9
98.3
97.1
96.6
96.0
95.7
96.6
97.7
117.8 92.1 121.2
119.4 92.8 120.6
120.1 93.2 119.4
117.6 92.5 119.7
116. 3 91.7 120.4
118.3 92.2 124.4
115. 5 91. 9| 134.3
118.1 91.81 139.7
117.8 90.8 140.5
119.4 90.8 134. 0
119.1 91.5 129.4
119.5 92.01 127.1
91.8 122.6
91.61 120.8
87.4
94.1
93.5
89.5
89.4
88.3
89.4
88.0
89. 21
90.2
90.8
120.3
119.5
123.4
123. 0
122.3
120.8
119.7
119.7
120.0
119.5
117.4
118.1
119.21
120.8
123.5 168.5
211.9 127 2i 163.1
101.1
100.9!
100.3J
99. 2j
98.1!
98.8;
99. 61
98.9
97.11
98.7
99.3
100.1
239. 5
242.3
233. 6!
227. 51
224.11
221. 2|
221.l|
222.8!
224.3!
118.4
119.6;
120.11
121.11
122.8
124.3
126.4
127.4
126.0
125.0
230.11 125.1
235. 2 125.3
171.3
172.1
171.8
168.1
167.1
165.9
166.3
167.1
166.5
166.4
168. 4
170.5
L2 120.0 98.8 238.0 126.3 172.6
l.2| 120.51 98.5 241.9! 126.4 173.2
i
INDEXES OF PRODUCTION-WORKER PAY ROLLS (1939 = 100)
Monthly average:
1944.
1945
345.7 482. 5 324.
529.9 443. 0 335.3 3,133. 9 357. 8 224. 6 193.7 187.7 211.9 174.7 203. 4 159.4 203.9 158.8 195. 3 134.8 398.1 213. 9 301.0
288.4 366.6 278.5 426.7 368.8 247. 6 1,865. 9 306.1 218.3187.1 184.3 211.9 174.2 210.6 167.6 206.7 164.7 202.1 144.3! 370.5! 223.2 291.4
1944: January
February
March
April
May
June
July
August
September
October
November
D ecember
351. 6
352. 7
350. 5
345.0
345.3
346.6
339.6
343.1
341. 9
343. 8
341. 0
346.7
1945:2 January
February.
.
498.7
498.3
494. 2|
488.7
486.3
485. 8
471.8
476.0
471.0
474.1
468.8
476.1
327.0
328.4
324.9
320.0
321.2
324.7
321.0
323.5
326.4
325. 4
320.9
329.7
531.6
537.1
538. 4
528. 3
528.9
537.8
525.6
527. 0
532. 5
524.7
520.0
526. 3
464.6
459.2
455.0
447.1
442. 6
449.5
431.1
433. 9
430. 8
434. 6
426.4
441.0
365. 3 3. 285.1
355. 9*3, 287. 8
351.2|3,254.9
346.613,245.2
335.2!3,228.9
337.1 3,136. 8
321.0 3,044.7
326.13,047.0
317.912.995.6
320.4 3,033.0
320. 5 i 3,020.1
326.13,027.5
380. 4 204. 6 189.6
378.7 213.8 192.6
372.2 210.8 193.3
361.4 220. 188.3
359.3 225.6 190.6
361. 0 235. 7 194.4
349.7 227.5 191.0
350.4 242.4 198.9
344.4 230.4 193. 4
345.1 235.9 197. 5
341.0 222.6 195.5
350.1 218.7199.0
189.1
189.7
190.0
187.4
187.3
189.0
182.8
187.6
184. 8
188.8
186.5
189.0
207. 8
210.3
209.9
204. 6
207. 5
210.6
210.4
213. 2
215.6
216. 3
216.0
220. 2
174.2
176.9
176.6
172.7
174.1
175. 4
171.7
171.5
172.4
174.1
176.0
180. 7
192.9
203. 9
209. 5
191.2
195. 0
200.8
191. 1
204.0
212.7
215.6
211.7
212.6
151.9
156. 7
158.4
157. 7
158. 9
161. 6
159.0
159.5
161. 9
161.5
161.1
165.0
194.0
191.0
188.9
188.8
195. 8
202.3
214.7
218.6
218.5
213.2
209.7
211.3
157.9
154.7
146.5
142.7
152.8
157. 4
157.0
157 5
163. 0
165.7
172.8
178.0
192. 1
193.
194. 4
191. 6
193 0
195. 6
194. 0
195. 2
194. 3
197. 9
199. 4
202. 8
131.9
131.9
132.4!
130.8!
132.11
134.7|
135.3;
135.01
136.0!
136.
139. 3
141.1
411.0
414.3
401.4!
391.5
391.1
387.7
387.8
388.8
393.6
597.5
400. 0
412.
196.5
201.3
203. 9
206.6
212.6
215.8
223.2
220.91
220.7
224. 3
219.2
295. 7
301.9
304.8
290.1
293. g
293.3
292.9
301.5
305.2
304.7
305.8
322.1
345.6 474.6 329.9 527. 4 440.5 333.512.977.5 352.3 219.3 199.4 186.1 219.6 178.1 217.8 166. 7 202.4 167.0 200. 9 139.8 419.8 222.1 338. 3
195.9 165.6 201. 7 138.2 426.2! 223. 8 j 339.5
344.8 472.0 332.1 528. 3 443.9 333.8t2; 881. 5 358.2 225.1 202.8 186.8 220.4 177.. 227.5
1
Revised data compiled by the 17. S. Department of Labor, Bureau of Labor Statistics. The revision resulted from adjustment of figures for the industry groups and the totals to
levels indicated by 1944 data made available by the Bureau of Employment Security of the Federal Security Agency. Earlier data are available as follows: Estimated number of
production workers 1929-43, p. 22 of the December 1945 Survey; employment and pay-roll indexes—1939-40, pp. 23-24 of the December 1942 Survey; 1941, p. 28 of the March 1943 issue;
1942-43, p. 20 of the October 1945 issue. Data for individual industries are adjusted to 1939 Census of Manufactures data but not to Federal Security Agency data and are correct as
published on pp. 23-24 of the December 1942 SURVEY and in the statistical section of subsequent issues.
The term "production worker" has been substituted for the term "wage earner" used previously, to conform with the terminology and standard definition of classes of workers
in manufacturing industries formulated by the Division of Statistical Standards, U. S. Bureau of the Budget. This change has no appreciable effect on the data since there is very
little difference in the definitions.
* For monthly data beginning March 1945, see pp. S-10 to S-13 of the May 1946 SURVEY and current issue.
Footnote for table on page 23.
1
Compiled by the U. S. Department of Commerce, Bureau of Foreign and Domestic Commerce. This table presents data for the revised indexes of shipments and new orders shown
on page S-2 beginning in the February 1945 and the November 1945 issues, respectively. (See p. S-2 for 1945 and later data.) The revisions involved the incorporation of late and
revised reports received from cooperators; the use of new weights for combining the component industries or industry groups, based upon shipments derived from final results of the
1939 Census of Manufactures (the use of shipments weights for new orders is based upon the assumption that shipments and new orders in 1939 were in balance); the inclusion of companies reporting net cancellations, treated as negative items, in the new orders indexes; and a shift of the base of the new orders index to the average month of 1939. Important changes
in the reports for shipments resulted from renegotiations of war contracts. The automobile and transportation equipment industries are not included in the new orders indexes.
Except as indicated, the method of calculating the indexes is substantially the same as for the former series described in the 1942 Supplement to the SURVEY.
SURVEY OF CURRENT BUSINESS
July 1040
S-l
Monthly Business Statistics
The data here are a continuation of tbe statistics published m the J942 Et-pplemeKt to the PURVEY OF CURRENT BUSINESS. That
volume contains monthly data for the years 19S8 to 1941, and ncnthly averages for earlier years Lack to 1913 insofar as available; it
also provides a description of each series and references to source** of monthly figures prior to 1938. Series added or revised since publication of the 1942 Supplement are indicated by an asterisk (*) and a dagger (1), respectively, the accompanying footnote indicating where
historical data and a descriptive note may be found. The terms "unadjusted" and "adjusted" used to designate index numbers refer
to adjustment of monthly figures for seasonal variation.
Data subsequent to May for selected series will be found in the Weekly Supplement to the Survey.
Unless otherwise stated, statistics through 1941
end descriptive notes may be found in the
1942 Supplement to the Survey
1945
1916
May
May
June
July
1946
I August September
October
Novem- Do comber
ber
January
Febru-
March
April
BUSINESS INDEXES
I
INCOME P A Y M E N T S !
Indexes, adjusted:
I
240.2
Total income payments
1C«35-39«1OO__|
240. 0
Salaries and wages
__...do
I
283.1
Total nonagricultural income
.
do
Total
__
-mil. of doL.I 12,737
Salaries and wages:
I
8, CC6
Total
...
..do
3, 409
Commodity-producing industries
„
do
I
2,227
Distributive industries
do.
1,471
Service industries
do_
1,489
G overrun ent
do
94
Public assistance and other relief.
do...
558
Dividends and interest
. do....
Entrepreneurial income end net rents and roy2,579
alties.—
mil. of dol_ceo
Otber income payments
do.
11,388
Total nonagricultural income
do.
24 3.9
265, 8
237. 7
12,835
244. 6
266.3
241.2
14,397
243.4
2C5. 5
240.3
13,585
% 518
3,888
1,831
1,277
2, 672
81
498
9,572
3,831
1,859
1, 292
2,590
81
1,853
9, 445
3,746
1,886
1, 314
2,499
2,252
486
11,646
2, 275
616
13,175
126
99
146
124
87
151
159
189
137
?32. 7
12,674
229.0
243.4
226.7
13,424
231.4
239, 5
229, 5
13, 531
228. 5
232. 2
13,075
234.1
236.1
230. 5
14, 272
233. 5
231.1
229.3
13,047
231. 7
227.8
226. 1
12, Of.8
234.7
235.1
230.4
13,199
236. 4
2S9. 0
232.6
12,960
9,021
3,423
1,862
1, 298
2,488
82
495
8,708
3,106
1,890
1,296
2,416
83
1,383
8,674
3,048
1,928
1,316
2,382
85
870
8, 543
3, 044
1, 966
1, 3G3
2,170
87
535
8,525
3, 046
2, 073
1,391
2,015
88
2,056
8,179
2,938
2,018
1,396
1,827
90
1,122
8, 041
2. 917
2, 021
1, 431
1,672
92
525
8, 360
3,222
2,075
1,476
1, 587
94
1,386
8,541
3,318
2,108
1, 495
1,500
93
'892
12,100
2,504
572
11,200
2,586
664
11,868
3,042
860
11, 588
2, 909
1, 001
11,312
2,599
1,004
12,846
2,609
1,047
11, 719
2, 415
995
10, 930
2,402
957
12, 059
121
87
147
141
144
139
144
156
135
155
181
135
184
224
154
162
171
155
139
137
140
131
135
129
120
107
130
118
97
134
' 78
'146
152
167
141
148
159
139
140
142
139
139
135
142
130
122
135
134
128
139
148
152
146
144
143
144
150
170
135
155
162
150
149
104
138
'131
'119
'140
1,657
1,551
1,526
1,454
1,551
1,529
1,870
1,820
1,977
1,961
2,533
2,418
2,250
2, 210
1,802
1,786
1,648
1, 534
1, 455
1, 383
1, 420
1,370
'1,509
' 1,419
233
315
411
250
221
258
264
219
293
356
252
236
246
308
230
287
331
258
235
261
307
272
282
330
250
235
241
317
274
274
310
249
228
234
341
295
256
293
231
213
211
330
364
261
299
236
206
228
323
333
282
325
253
201
260
340
268
282
331
250
201
252
345
231
281
351
235
187
235
330
208
S05
SCO
2G8
194
317
278
206
285
348
243
207
258
281
'214
'276
'302
' 259
' 223
'284
'269
v 159
v 167
v 176
P108
v 131
v 141
*126
v 231
p 132
225
240
323
204
120
138
112
405
248
272
220
234
308
192
121
138
113
393
219
234
•JQQ
lay
167
-ICJO
l
OtJ
211
223
292
187
116
134
107
371
196
202
182
168
102
115
230
535
188
167
214
303
409
107
103
109
188
196
240
155
113
124
108
310
166
162
171
165
110
113
227
405
142
159
175
261
368
107
97
114
171
177
195
163
104
115
98
230
139
135
150
166
112
114
247
273
105
161
199
239
386
118
110
123
164
171
187
146
94
120
82
232
144
143
148
167
123
122
242
258
120
168
214
232
371
113
108
116
167
173
192
167
95
123
81
231
148
148
148
162
122
123
237
252
137
158
201
220
370
117
113
120
161
167
184
164
86
131
63
232
147
150
141
159
108
128
227
217
95
154
188
231
378
111
113
109
156
160
164
102
99
135
80
217
151
155
140
163
107
134
242
220
107
157
198
' 233
148
' 151
' 137
43
110
139
95
190
139
144
128
r 174
113
138
247
164
170
182
109
120
142
108
206
141
148
123
184
125
143
251
••384
••379
137
"136
138
' 103
174
' 191
159
'129
144
'122
'225
' 132
141
109
188
145
' 144
243
'249
' 164
M60
164
'237
'392
129
114
141
81
955
2,523
581
236. 0
2M. 9
r
2. 507
'927
11, 098
F E E M M A R K E T I N G S AND I N C O M E
Farm marketings, volume:*
Indexes, unadjusted:
Total farm marketings.
_,._
1935-39»100,
Crops
do_._
Livestock and products
.do
Indexes, adjusted:
Total farm marketings
do...
Crops
do
Livestock and products
do
Cash farm income, total, including Government payments*
.mil. of doL
Income from marketings*
do...
Indexes of cash income from marketings:!
Crops and livestock, combined index:
Unadjusted
.
1935-39-100.
Adjusted
do...
Crops
.
do
Livestock and products
do
Dairy products....
...do...
Meat animals
...
....do...
Poultry and eggs
do...
1,905
1,805
PRODUCTION INDEXES
I n d u s t r i a l P r o d u c t i o n — F e d e r a l Reserve I n d e x
Unadjusted, combined index!.
1935-39-100Manufacturesf
„_.-_. d o . _„_
Durable manufactures!
_
do
Iron and steelt
._...-..
do
Lumber and products!
....—do
Furnituref
-do
Lumber!
_
..do
Machinery!-...
do
Nonferrous metals and products!
do
Fabricating*
...___do
Smelting and refining*
do
Stone, clay, and glass products!
do
Cement
...do
Clay products*.,.
_
do
Glass containers!
do....
Transportation equipment!
do
Automobiles!
do
Nondurable manufactures!—.
.
. do
Alcoholic beverages!
......do
Chemicals!
do
Industrial chemicals*
_.__..
do
Leather and products!.
_
..do
Leather tanning*
.do
Shces
do....
v 109
v 182
135
v 143
228
*238
P 157
v 160
'235
••395
89
115
235
610
218
172
147
318
407
121
115
126
166
102
120
221
672
207
173
162
315
412
126
110
132
117
115
118
••199
••210
••98
162
211
'115
161
102
'234
'382
134
119
144
••233
v Preliminary, r Revised.
•New series. For a description of the indexes of the volume of farm marketings and figures for 1929-42, see pp. 23-32 of the April 1943 Survey; indexes since 1942 are from the
Department of Agriculture. Data for 1913-41 for the dollar figures on cash farm income are shown on p. 28 of the May 1943 Survey; revised monthly averages beginning 1940 based on
annual data are as follows (millions of dollars). Cash farm income, total including Government payments—1940, 759; 1941, 979; 1942,1,335; 1943,1,668; 1944,1,753; income from marketings—1940, 095; 1941,930; 1942,1,276; 1943,1,612; 1944,1,680; the monthly figures have not as yet been adjusted to the revised totals. Data beginning 1939 for the new series under industrial production are shown on p. 18 of the December 1943 issue.
t Revised series. Data on income payments revised beginning January 1939; for figures for 1939-41. see p. 16 of the April 1944 Survey and for 1942-44, p . 20 of the May 1945 Survey.
Revised data beginning 1913 for the indexes of cash income from farm marketings are shown on p. 28 of the May 1943 Survey. For revisions for the indicated series on industrial
production, see table 12 on pp. 18-20 of the December 1943 issue.
G96891—46
4
S-2
SURVEY OF CURRENT BUSINESS
Unless otherwise stated, statistics through 1941
and descriptive notes may be found in the
1942 Supplement to the Survey
May
1946
July 1946
1945
May
June
July
1946
January
^TeT
August
February
March
BUSINESS INDEXES—Continued
PRODUCTION INDEXES—Continued
Jnduetria!
Production—Continued
Unadjusted—Continued.
Manufactures—Continued.
Nondurable manufactures—Continued.
Manufactured food productst
1935-39 -100..
Dairy productst
do
Meat packing _ _ _ _ __ _ _ _ . do .
Processed fruits and vegetables*
do
Paper and productst - - Paper and pulpt
do
Petroleum and coal productst
do
Coke
do
Petroleum refiningt
do
Printing and publishing! - - - - - . - do
Bubber products!
do
do
Textiles and productst- - - Cotton consumption
do
Bayon deliveries
do
"Wool textile production,
__
do
Tobacco products
do
Minerelst-----Fuels!
Anthracitet
..
Bituminous coalt
Crude petroleum._._ _
Metals
_.
do
do
_._ .
. „ _ _do
do
. . ._
do
do
Adjusted, combined index!
Manufactures
_
Durable manufactures
Lumber end products .
Lumber
__.
Nonferrous metals
Stone, clay, and glass products
Cement
Clav products*..
-«
Glass containers
. .
.
__
_.
__
.
Nondurable manufactures _ _ »
Alcoholic beverages
Chemicals r
._
Leather and products
Leather tanning*.. . _
Manufactured food products
Dairy products
Meat packing
.
Processed fruits and vegetables*
Paper and products
.
Paper and pulp
Petroleum and coal products
Petroleum refining
Printing and publishing
Textiles and products
Tobacco products
Minerals
Metals
.
_
___ >
do
do
- - . do
do
do
do
.do
. . . do
do
_ - do
do
do
do
do
P135
J>120
1-64
9143
P139
126
9 219
9 163
149
246
164
*116
9123
9 125
v 148
_.
_
do
do
150
* 209
139
107
142
137
269
163
285
105
222
150
144
220
144
145
157
*>212
131
174
134
130
*'2G7
165
151
#185
119
165
131
129
*>240
153
99
218
132
123
220
117
133
141
143
47
145
152
147
150
129
153
151
129
151
149
143
171
118
142
138
148
182
108
134
131
v 172
154
155
63
133
130
152
153
*• 120
133
165
143
139
»156
116
107
193
134
123
213
127
155
110
172
144
138
215
142
169
117
191
141
128
215
147
173
118
192
146
133
226
150
157
114
205
143
125
228
149
104
114
215
151
138
233
153
142
145
148
117
M6
153
125
143
146
102
144
152
124
137
139
114
148
138
123
12o
126
120
110
133
116
134
143
112
159
141
80
126
137
94
142
139
61
167
173
194
98
89
139
161
97
110
243
162
168
186
91
76
144
161
106
116
235
168
173
191
96
83
148
158
113
119
235
158
216
228
116
109
150
166
134
242
144
138
P184
''138
9 101
129
84
148
143
9 168
151
K138
199
129
' 216
159
146
234
171
148
102
147
241
173
152
129
' 219
' 160
144
'245
168
147
134
146
114
159
144
60
134
149
121
160
147
49
131
145
125
1CS
138
48
r
100
' 108
' 121
10
144
9 52
163
169
185
62
72
147
164
119
124
244
160
163
166
1C8
95
151
172
131
144
247
152
154
'139
119
108
139
'185
149
144
255
168
173
'183
125
117
141
' 192
152
150
251
' 165
' 176
r
191
' 130
r
123
132
•; 191
152
148
243
161
231
' 224
117
115
154
» 116
131
143
183
130
' 166
238
' 2?2
133
' 165
f 176
' 232
134
120
155
9 122
140
153
148
143
r 163
!
169
9 1C6
9 1G1
9 1CS
1°3
If 9
156
127
162
161
Ml
138
J-166
116
M60
167
225
p
240
•p 1 7 5
323
118
108
248
162
85
115
220
2?0
233
308
116
104
219
1C6
95
121
223
2"!0
222
292
110
196
169
93
117
240
186
104
239
107
98
165
160
97
110
218
173
136
319
121
115
153
*133
132
149
141
136
273
289
105
150
128
173
139
318
127
119
151
9 143
141
139
142
137
269
285
106
150
139
165
193
307
109
109
147
» 148
140
134
135
131
»267
157
173
265
108
£8
138
*146
133
101
131
129
9 240
156
192
239
119
112
144
9 148
141
109
143
138
9 184
154
201
230
112
107
143
9 145
129
128
143
139
9 156
j? 174
156
212
230
111
114
153
9 131
155
138
134
132
9 172
105
132
128
111
134
150
109
144
160
115
141
167
114
146
154
112
143
112
118
151
143
138
110
144
109
143
109
140
105
134
106
124
109
138
109
133
108
108
104
109
75
75
150
87
124
132
95
99
69
66
127
84
109
127
84
85
63
53
108
71
94
117
56
53
46
37
59
40
37
97
26
9
37
23
11
8
16
59
v 128
v 122
P 132
128
P143
213
P161
*236
fin
do
do
do
do....
do
do
do
do
do
do
do .
146
J-178
132
97
142
137
273
168
289
106
224
150
142
221
146
128
P142
9 120
P144
9 138
124
9 163'
163
»116
155
128
142
138
144
x>85
171
88
141
137
9 161
91
1 f•<)
9 117
17F
140
140
120
'92
146
141
113
130
1115
'152
"'9 129
U30
''151
:" 146
141
126
160
154
104
v 82
Munitions Production
Total munitions*.
___
_ 1643«100__
do
Aircraft*
Ships (work done)*__ .
do
Guns and fire control*
do
Ammunition*
doCombat and motor vehicles*
do
Ccmmunication and electronic equipment*
Other equipment and supplies*
do
Manufacturers' Orders, Shipments, cind
Inventories
205
186
New orders, index, totalt
avg. month 1939 =100195
186
133
183
166
182
' 193
180
'188
20C
' 186
do
Durable goods industries .
218
177
182
179
53
171
121
214
160
'176
r 173
203
r 179
232
191
Iron and steel and their products...
_
do
177
176
83
r22l
119
181
174
176
22£
165
' 163
Machinery, including electrical
do
226
168
205
278
111
215
235
26S
240
188
217
158
170
157
154
162
Other durable goods
do
63
146
130
' 155
144
137
' 152
156
15C
192
198
202
Nondurable goods industries
do
190
181
191
194
193
188
' 188
196
189
19.
269
206
r 199
268
Shipments, index, totalf
247
do
2°2
202
210
204
197
20C
209
361
Durable goods industries
do
r 1 ^
356
320
262
216
200
203
199
' 169
204
138
287
Automobiles and equipment
do
270
247
182
118
102
119
'94
98
'88
'81
135
Iron and steel and their products .
do"
272
262
238
183
198
194
182
191
174
' 140
19C
184
r Q2
192
288
277
Norforrous metals and products
232
172
do
191
157
167
192
183
107
' 163
184
438
233
451
Machinery, including electrical
- . do
399
330
92*5
272
267
2r-0
199
198
202
263
1,779
Transportation eq uipment (exc. autos)
578
1, 735
do
1, 594
1 233
796
592
529
572
492
626
547
220
Other durable goo ds industries
230
232
214
199
190
178
197
211
161
199
176
188
' EeviFed.
» Preliminary.
* Value of orders cancelled exceeded new orders received.
•New series. Data beginning 1939 for the new series under industrial production are shown on pp. 18 and 19 of the December 1943 Survey. Indexes of munitions production have
been revised to incorporate corrections in the basic data and weights changed to unit prices in 1945 instead of 1943, as formerly; except for this change in weighting, the description
of the indexes published on p. 24 of the February 1945 Survey is applicable to the revised data; revised monthly averag es for 1940-45 are shown on p. 32 of the February 1946 Survey,
revisions in monthly data published prior to the January 1946 Survey will be publjshed later.
tEevised series. For revisions for the indicated unadjusted indexes and all seasonally adjusted indexes shown above for the Industrie, production series, see table 12 on p r 18-20
Of the December 1943 issue. Seasonal adjustment factors for a number of industries included in the industrial production series Fhown in th e Survey have been fmjd et 100 beginning
various months from January 1939 to July 1942: date for these industries BTV shown only in the unadjusted series BF t i e "adjusted'" indexes are the same as the unadjusted The
Indexes of new orders were revised In the November 1945 Survey and the indexes of shipments were revised in the February and March 1945 issues; da ta for electrical machinery and
other machinery, which were shown separately in the May 1946 and earlier issues of the Survey have been combined; data for 1939-44 for all serie s, except the combined indexes
for machinery are shown on p. 23 of this issue.
SURVEY OF CURRENT BUSINESS
July 1040
Lnless otherwise stated, statistics through 1941
and descriptive notes may he found in the
1942 Supplement to the Survey
1946
1945
May
September
May
June
July
August
S-3
1946
October
Novem- December
ber
January
February
March
April
BUSINESS INDEXES—Continued
MANUFACTURERS' ORDERS, SHIPMENTS,
AND INVENTORIES—Continued
Shipmerttsf—Continued.
Nondurable goods industries._avg. month 1939*= 100_.
Chemicals and allied products
do
Food and kindred products
„
do
Paper and allied products..
.
.do
Products of petroleum and coal
do
Rubber products
._._do
Textile mil] products
__
do
Other nondurable goods industries
do.,...
Inventories:
index, total
do
Durable goods industries
_
do
Automobiles and equipment
_
do
Iron and steel and their products...
-do
Nonferrous metals and products*
-.do....
Machinery, including electrical t
do
Transportation equipment (except automobiles)
avg. month 1939-= 100.
Other durable goods industriesf
_do__._
Nondurable goods
_
do
Chemicals and allied products
.__.
do.. _.
Food and kindred products
_.do_._.
Paper and alHed products
do
Petroleum refining
do
Rubber products
_,._
do....
Textile-mil) products...
.do
Other nondurable goods industries
do
Estimated value of manufacturers' inventories*
mil. of. doL.
200
204
206
217
208
182
196
333
188
203
207
217
217
186
196
333
198
192
196
214
221
166
199
274
154
177
194
201
213
173
183
255
165
184
206
199
241
183
183
200
167
197
205
192
-236
178
153
260
167
208
204
201
230
183
165
212
165
207
196
189
218
167
178
292
166
189
195
203
218
182
161
229
178
184
••204
213
••225
185
154
242
' 187
' 199
'206
'221
' 216
196
-•167
260
M95
••203
197
208
170.6
184. 6
230.8
118.3
148.1
245.6
163.1
189.2
223.0
117.5
145.5
247.4
162.7
188.7
217.4
118.8
145.4
241.3
164.1
187.3
215.0
121.2
145.6
239.6
164.3
184.9
171.4
122.5
145. 9
237.3
164.6
184.7
173.2
123.3
145.6
235.1
165.6
181.7
177.9
123.0
136, 3
230.3
166.5
177.4
175.3
124.0
134.1
229. 9
163.9
r 170. 5
r 186. 9
119.6
136.3
218.3
' 164. 7
r 171. 2
190.8
118.0
135.2
222.6
' 166.9
'174.3
200.1
120.2
139.0
226.2
' 109. 3
' 180.6
209.7
•• 122. 3
r 145. 4
235.8
169. 2
181.6
221.3
119.9
145.6
240.6
609.3
112.1
158. 4
166.1
153.8
158.1
116.8
794.7
104.9
139.9
153.5
143.7
136.0
107.3
178.7
116.5
156.5
791.5
102.1
143.7
156.1
154. 6
140.0
108. 8
183.3
118.1
156. 3
821.6
101.9
145.7
158.8
156.1
144.0
110.8
182.4
115.7
161.4
819.1
102.7
147.1
159.9
158.0
144.9
109.1
177.4
115.5
166.2
792.1
103.1
151.5
161.2
164. 5
148.3
111.7
167. 7
121.1
172. 4
686.7
103.1
157.0
162.2
177.1
150.7
113.6
167.1
127.6
175.8
594.0
104.6
158.0
165.1
177.1
155.0
111.7
169.0
130.2
176.4
578.5
106.2
159.0
164. 8
169.7
156. 6
111.4
173. 7
135.9
183.8
587. 2
106.0
160. 5
166.6
166.6
160.6
112.4
179.9
r 140. 7
615.4
108.4
159.4
'166.3
' 161.3
r 163. 4
r 114. 0
186. 4
147. 5
180.7
593.3
109.7
158.3
106. 9
157.7
161.1
114.3
156.0
178.9
779.9
105.3
140.3
152.8
143.2
133.6
107.4
178.3
139.6
157.7
16,960
16, 212
16,167
16, 307
16,301
16,364
16,457
16,829
16,813
81
5
204
213
206
204
178
16,554
16, 295
16, 399
' 186. 4
16, 559
221
214
199
173
152. 5
176.6
BUSINESS POPULATION
OPERATING
BUSINESSES AND BUSINESS
TURN-OVER*
(U. S. Department of Commerce)
Operating businesses, total, end of quarter... thousands. Contract construction
._ . do __
Manufacturing
. do .
do...
Who4esale trade
Retail trade
do
Service industries
do
All other
do
do....
New businesses, quarterly
Discontinued businesses, quarterly
do_ .
do ___
Business transfers, quarterly
3,134.1
176.4
255.5
137.4
1,450.1
602.6
512 1
1C6.0
37.4
83.2
3,065.6
1C6.4
249.4
133.2
1 417. 7
591.7
507 2
87. 8
35.1
84.4
INDUSTRIAL AND COMMERCIAL FAILURES
(Dun and Bradstreet)
Grand total
__
number .
.do
Commercial service .
Construction
. . . .
do .
do
Manufacturing and miniDg . .
Retail trade
do
do. .
Wholesale trade
Liabilities, grand total
thous. of doLCommercial service
_ _ . . . . . . do .
Construction. . _
do
Manufacturing and mining
do
do. .
Retail trade
_
do
Wholesale trade
_
72
5
7
26
28
6
2,208
61
102
1,771
175
99
61
5
5
19
28
4
3,198
134
81
2,420
515
48
72
9
9
19
30
5
3,659
82
1,135
1,665
468
309
56
5
8
21
17
5
1,166
217
186
595
133
35
64
16
5
24
17
2
1,658
424
87
780
347
20
1,662
1,659
1,631
1,817
2,072
i»3f 234.8
v 189.1
v 262. 5
i»141.8
vl, £04. 2
^619.8
v 517. 4
» 337.4
v?S. 7
»82.1
62
3
13
24
14
8
3,114
344
225
2,194
209
142
8
21
14
10
1,268
60
225
721
135
127
42
5
2
23
10
2
1,824
372
107
1,141
125
79
80
12
8
35
22
3
4,372
2,279
155
1,677
245
16
92
13
14
29
27
9
2,983
748
215
874
258
888
86
8
10
41
17
10
4,421
902
436
2,285
269
529
34
25
10
3,785
40
133
2,734
249
629
3,010
3,507
5,521
4,191
4,774
4,843
205
203
178
161
375
182
217
235
213
206
203
202
218
207
206
178
162
378
184
230
223
213
2C7
204
204
222
206
207
179
164
375
180
225
249
213
2C4
206
203
197
207
213
180
166
368
186
233
275
212
202
214
202
168
209
215
185
171
367
183
229
283
208
203
219
201
1C7
212
220
185
171
368
190
244
282
210
205
225
199
166
60
7
7
BUSINESS INCORPORATIONS
New incorporations (4 states) . . .
number..
4,634
2,861
COMMODITY PRICES
PRICES RECEIVED BY FARMERS!
XJ. S. Department of Agriculture:
Combined indexf
Crops
Food grain
Feed grain and hay
Tobacco
Cotton
Fruit
Truck crops
_
_
Oil-bearing crops
Livestock and products
Meat animals
Dairy products
Poultry and epgs
_
1909-14=100..
do
do
do
do
.do
.do
do
do
do
do
do
do
211
215
198
188
3f.9
194
248
177
214
207
226
198
173
200
198
172
161
363
165
227
193
216
202
217
192
179
206
210
173
162
364
169
237
269
217
203
216
191
189/
206
207
169
161
364
171
237
244
221
205
215
192
197
204
202
167
158
367
172
214
240
215
206
212
195
207
197
191
167
157
365
175
217
159
213
203
207
197
201
1S9
186
175
160
373
180
219
181
210
202
202
199
204
r
Revised. » Preliminary.
tData for electrical machinery and other machinery, formerly shown separately, have been combined; data back to 1939 for the combined index are available on request.
•New series. Data for inventories of nonferrous metals and their products were included in the "other durable goods" index as shown in the Survey prior to May 1943 issue,
revised figures for the latter series and the index for nonferrous metals beginning December 1938 are available on request. For the estimated values of manufacturers' inventories
for 1938-42. see p. 7 of the June 1942 Survey and p. S-2of the May 1943 issue. The series on operating businesses and business turn-over have been revised beginning 1940, see pp.
21-23 of the May 1946 issue for data prior to 1945.
tRevised series The indexes of shipments were revised in the February and March 1945 issues; data for 1939-44 are on p. 23 of this issue.. The indexes of prices received
by farmers arc shown on a revised basis beginning in the March 1944 Survey: data back to 1913 will be published later. Data for June 15, 1946, are as follows- Total 218: crops, 223;
food grain, 200; feed grain and hay, 195; tobacco. 370; cotton, 210; fruit, 261: truck crops, 185; oil-bearing crops, 219; livestock and products, 213; meat animals, 230; dairy, 207; poultry
and eggs, 178. See note marked " • " in regard to revision of the index of inventories of "other durable goods" industries.
S-4
SURVEY OF CURRENT BUSINESS
Unless otherwise stated, statistics through 1941
and descriptive notes may be found in the
1942 Supplement to the Survey
1946
J945
May
August September
May
June
July
July 1946
1946
October
Novem- December
ber
January
February
March
April
COMMODITY PRICES—Continued
COST OF LIVING
National Industrial Conference Board:$
Combined index..
.....
1023 = 100..
Clothing
.
.
.
..do
Food
,
...
do
Fuel and light
do
Housing....'
____
...do.....
Sundries
_....
... _
do.._
Consumers' price index (TJ. 8. Dept, of Labor):§
Combined index
....
.
__] 935-39=100...
Clothing
_._.do_...
Food..
_.
.__-_-..._
do___.
Fuel, electricity, and iee_-,
do
Gas and electricity*
do
Other fuels and ice*
do
Housefurnisbings..
,
do
Bent
'.___—_-•_„„
__._.
do
Miscellaneous.
,
do
RETAIL PRICES
D. S. Department of Commerce:
All commodities, index*
.-1935-39*100.
U. S. Department of Labor indexes:
Anthracite
_
1923-25=100..
Bituminous coal
do
Food, combined index
1935-39=100..
Cereals and bakery products'
_
do
Dairy products*
_
_
do__.
Fruits and vegetables*..-.
do_._
Meats*
.___..
_
cio
Fairchild's index:
Combined index.....
..Dee. 31,1930=100.
Apparel:
Infants'
do
Men's. -_._._..._
____I._____do___
Women's
„„__
do...
Home furnishings
do
Piece goods
_,_.
_______
IldoIII
WIIO L ESA LE PR IC E S
U. B. Department of Labor indexes:
Combined index (889 series)
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_I._
Foods
_
do.
Cereal products.
do.
Dairy products
do
Fruits and vegetables
.do
Meats
„
do
Commodities other than farm products and foods
1926 - 1 0 0 Building materials
_
_
.—.do.
Brick and tile
______~"do~
Cement
Lumber
Paint and paint materials
Chemicals and allied products!
Chemicals..
Drugs and pharmaceuticalsf
Fertilizer materials....
Oils and fats
Fuel and lighting materials
Electricity.....
Gas
Petroleum products...
Hides and leather products
Hides and skins
_
Leather
Shoes
._
Furnishings..
Furniture
Housefurnishing goods
lido'.
lllllllldollll
_____I_-___do_
do
do__I_
l.llldollll
._ do
do"
~""do
do
____do___.
»__do
do
do
"""do""""
llllllllldol'll
do
l.llllldo
I.doIIII
Metals and metal products
do""""
Iron and steel
II_do___~
Metals, nonferrous.
do
Plumbing and heating equipment.. I*. IlldoIII"
Textile products..
do
Clothing
_._I"~do
Cotton goods
__
do____
Hosiery and underwear
do
Rayon. _.
llldo'll'
Woolen and worsted goods
do
Miscellaneous
"do""
Automobile tires and tubes. I
do
xxru i Paper and pulp
I___-_-_II__do____
Wholesale prices, actual. (See respective commodities )
131.5
155.4
142.6
110.3
92.2
IOC. 2
94.9
112.7
96.2
91.0
115.5
106.9
P4.7
114.8
96.3
91.0
115.5
106.9
94.6
114.9
97.3
C1.0
115.3
106.6
94.6
113.9
97.5
91.0
115.4
106.2
94.6
112.9
97.4
91.0
115.3
128.1
144.6
138.8
110.0
95.2
124.4
145.4
129.4
145.9
141.7
111.2
95.2
126.7
145.6
129.3
146. 4
140.9
111.4
95.2
127.2
146.0
0)
124. 5
128.9
148.2
339.4
130.7
95.2
125. 7
146.8
» 108.3
124.6
126.3
(')
123.9
129.0
145.4
141.1
110.0
95.2
124.5
145.8
1
108. 3
124.0
152!
(0
0)
124, 3
106.3
?4. 9
112.8
1*7. 4
n.o
115.4
128.9
148. 5
189.3
110.5
' 94.8
125.7
146.9
0)
106.7
94.9
113.fi
96.9
91.0
115.5
107.1
94.9
114.9
97.1
91.0
129.3
148. 7
140.1
110.1
94.0
125.8
147.6
129.9
149.4
141.4
110.3
94.0
126.1
148.3
i 108.3
124.8
129.9
149. 7
141.0
110.8
93.8
' 127. 3
148.8
0)
124.7
124.6
106.7
m 8 i
113.8
97.4
91.0
115.9
115.7
125.4
129 6
350.5
139.6
111.0
93 8
127.8
140.7
0)
125.6
130.2
153.1
140.1
110.5
92.9
127.7
150. 2
not A
125.9
' 143.7
0)
145.6
141.0
142.1
142 4
142.2
142.0
141.8
142.2
143.1
r 143. 1
r 142. 9
108.7
108.6
142.6
115. 2
138.6
185. 7
133.4
98.7
106.6
138.8
109.0
133.5
.182.6
131.6
98.9
107.1
341.1
109.1
133. 4
192.6
131.6
106.0
107.2
141.7
109.1
133.4
191.8
131.6
106.1
107.4
140.9
109.1
133.4
183. 5
131.8
106. 3
107. 4
139.4
109.1
133. 4
172.5
131.6
106.2
107.5
i39.3
ioe.1
133.3
172.5
131.0
106.2
107.5
140.1
109.1
135.9
172.3
131.0
107.2
107.6
141.4
109.2
136.2
177.3
131.2
108.2
108. 6
141.0
109.4
136.4
180. 8
131.4
108.6
308.6
139.6
109.8
136.6
181.1
131.3
114.5
113.4
113.4
113. i
133.5
113.5
113. 6
133.5
113. 6
133.5
113.5
113.6
108.1
106. 2
114.7
117.0
113.1
108.2
105.4
113.5
115.6
112.0
108.2
305.4
113.5
115.6
112.0
108.2
105. 4
113.7
115.5
112.0
108.1
105. 4
113.8
115.6
112.0
108.1
105.4
113. 9
115.7
112.0
108.1
105.4
133.9
115.7
112.0
108.1
105.3
113.8
115.7
112.0
108.1
105. 3
113.8
115.7
112.0
108.0
105.3
113.8
115.7
111.8
108.1
305.3
113.7
115.7
111.8
108. 2
105. 3
113.7
115.9
112.0
111.0
106.0
106.1
105.9
105.7
105.2
105.9
106.8
107.1
107.1
107.7
108.9
106.1
123.6
101.9
137.5
148.1
134.9
105.1
111.5
100.3
117.0
140.6
110.5
101.8
117.7
95.0
129.9
129.1
135.5
100.6
107.0
95.4
410.6
131.4
108.6
101,8
118.2
95.4
130.4
130.2
134.4
100.7
107.5
95.5
110.5
134.7
108.3
101.8
117.5
95.3
129.0
128.6
133.3
100.7
106.9
95.3
110.5
130.3
108.0
101.8
116.3
95.5
126.9
126.4
130.7
100.9
106.4
95.1
110.6
124.3
107.9
101.7
114.8
96.5
124.3
126.6
128.5
100.9
104.9
95.1
110.3
117.5
107.9
101.9
116.6
96.8
127.3
130.2
130.5
101.0
105.7
95.3
110.4
116.3
107.9
102.2
118.9
96.9
131.1
132.9
131.8
101.3
107.9
95. 5
113.2
123.8
107.9
102.5
119.2
97.6
131.5
133.2
129. 6
101. 6
108.6
95.7
113.8
128.7
107.9
102.9
118.3
97.6
129.9
133.8
131.5
101.9
107.3
95.8
115.0
125.7
108.1
103.4
118.9
98.8
130.8
133.9
132.7
102.5
107.8
96.1
115.8
127.5
108.1
104.5
100.4
133.4
136.7
133.5
103.4
109.4
96.2
116.1
133.1
109.6
101.
135. <
137. (
135.
104.,
110. \
99.^
116.^
138..
103.9
127.8
120.5
102.6
172.5
108.2
96.5
97.9
112. 4
81.9
102.1
86.1
99.4
117.3
110.7
99.4
154.9
106.4
94.9
95.8
106.8
81.9
99.6
117.4
110.9
99.4
154.9
106. 3
95.0
95.9
.=.09. 5
feO.4
102.0
83.9
59.6
78.0
64.2
118.0
117.3
101.3
126.3
104.5
107.5
101.5
104.7
99.1
85.9
92.6
99.6
107.4
119.7
71.5
30.2
112.7
94,8
73.0
109.0
99.7
117.5
111.7
99.4
155.1
106.1
95.3
96.1
110.2
81.1
102.0
84.3
60.3
77.8
64.2
118.0
117.6
101.3
126.3
104.5
107.5
101.5
104.7
99.1
85.9
92.6
99.6
107.4
119.7
71.5
30.2
1127
94.8
73.0
109.0
99.9
117.8
111.6
99.4
155.3
107.3
95.3
96.1
110.2
81.1
102.0
84.8
61.5
78.0
64.2
118.0
117.8
101.3
126.3
104.5
107.5
101.5
104.7
99.1
85.8
93.4
99.6
107.4
119.7
71.5
30.2
112.7
94.8
73.0
109.3
99.8
118.0
112.4
99.6
155.0
107.6
95.3
96.1
110.2
81.1
102.0
84.1
65.5
80.2
62.6
118.7
118.1
103.8
126.3
104.6
107.7
101.5
104.9
99.6
85.7
95.0
100.1
107.4
121.3
71.5
30,2
112.7
94.8
73.0
109.3
100.1
118.3
115.2
99.9
155.2
107.6
95.5
96.4
120.3
81.9
102.0
84.2
66.7
79.8
62.1
118.6
117.6
103.8
126.3
104.7
107.9
101.6
105.0
99.8
85.7
95.0
101.0
107.4
125.0
71.5
30.2
112.7
94.8
73.0
109.3
100.2
118.7
116.7
100.1
155.5
107.7
95.7
96.7
110.7
81.9
102.0
84.6
68.0
79.1
61.7
118.8
117.6
103.8
126.7
104.7
107.9
101.6
105.2
100.2
85.8
95.0
101.1
107.4
125.1
71.5
30.2
112.7
94.8
73.0
109.3
100.5
119.5
116.7
100.5
157.8
107.8
96.1
97.1
112.3
81.9
102.0
84.8
68.7
77.7
61.6
118.9
117.6
104.1
126.9
104.7
107.9
101.6
105.6
101.0
85.8
95.0
101.4
107.4
125. 5
73.5
30.2
112.7
94.8
73.0
109.3
100.8
120.0
116.9
101.1
158.5
107.8
96.0
97.1
112.1
81.9
101.7
84.9
69.2
77.4
61.5
119.4
117.6
103.8
127.9
106.2
109.7
102.8
105.7
101.2
85.7
95.0
101.6
107.4
125.6
75.2
30.2
112.7
95.3
73.0
112.0
101.3
120.9
116.9
101.5
160.1
107.8
95.9
97.0
111.5
81.9
101.8
85.1
71.3
79.1
61.6
119.6
117.6
103.9
128.2
106.5
110.1
102.9
106.6
103.3
85.7
95.1
102.2
109.4
125.8
75.3
30.2
112.7
95.6
73.0
113.7
102.2
124.9
117.4
102.5
167.6
107.8
96.0
97.0
111.7
81.9
102.1
85.0
68.3
79.6
61.2
119.8
117.6
104.0
128.6
106.9
110.9
102.9
108.4
107.0
86.1
95.1
104.7
109.5
132.9
75.5
30.2
112.7
95.6
73.0
113.7
103.:
126. £
119. £
102.4
171.4
1C8. C
96.1
97.1
112.4
81. €
102.1
86.1
63.5
120.4
120.7
104.0
128.9
108.3
113.4
102.9
109.4
107.8
89.0
100.8
108.8
119. 6
138.6
75. 7
30.2
112.7
97.0
73.0
115.3
102.0
83.7
58.5
76.4
64.2
117.9
117.0
101.3
126.3
104.5
107.5
101.5
104.3
98.4
85.9
92.4
99.6
107.4
119.7
71.5
30.2
112.7
94.8
73.0
109.0
108.6
108. 6
140.1 I
110.3
137.0
183.4
131.3 I
JL-.U. O
no.:
79.7
62.8
119.S
117.6
104. C
128. C
107. _
112.1
102. _
108..
107.4
87.1
100..
107..
117.4
137. €
75. £
30..
112.7
95.7
73. C
113. S
held constant in cities not surveyed during quarter.
August 1943 Survey; minor revisions have been made
'"gl923for the indexes of retail prices of the food sub, ,
^ shown separately. Data
i
SURVEY OF CURRENT BUSINESS
July 1043
Unless otherwise staled, statistics through 1941
and descriptive notes may be found in the
1942 Supplement to the Survey
1946
May
S-5
1945
May
June
July
1946
A
t s SeptemAugust
| ber
Octo- iNovein- December
ber
ber
Janu
ary
February
March
April
COMMODITY PRICES—Continued
PURCHASING FOWER OF 7HE DOLLAR
As measured by—
Wholesale prices
Consumers' prices
Retail food prices
Prices received by farmers!--
1936-39=100—
.
_
do
do.__.
do
72. 5
76. 0
70. 0
50. 4
75.0
78.1
71.9
53.2
75. 9
77. 5
70. 8
51. 6
75 9
77. 3
70. 5
61. 6
76.1
77.3
70.9
52.1
76 5
77. 6
71 6
54. 1
75. 9
77. f>
71. 7
53. 5
75.3
77.3
71.3
51.9
75.1
77.0
70.6
51.4
75. 1
77. 0
70. 8
51. 6
74.7
77.2
71.5
51.4
73.8
76.8
71.3
50.9
73.0
76.4
70.5
50.2
CONSTRUCTION AND REAL ESTATE
CONSTRUCTION ACTIVITY*
New construction, total
mil. of dol_.
Private, total
do
Residential (nonfarm)
do
Nonresidential building, except farm and public
utility, total
mil. of dol._
Industrial
do
Farm construction
do
Public utility
...do....
Public construction, total
do
Residential..
_
-_.._._do
Military and naval
_
do
Nonresidential building, total_do
Industrial.
do._._
Highway-.do
All other..
do
828
689
299
389
178
37
410
201
47
421
226
58
435
243
65
407
256
71
424
270
81
438
309
98
443
345
116
477
389
136
510
432
159
602
504
195
706
589
244
290
134
30
70
139
14
14
23
6
48
40
66
44
20
55
211
9
60
97
83
24
21
75
50
23
56
209
9
59
89
73
29
23
80
53
30
58
195
7
67
76
60
29
26
87
58
31
60
192
7
56
66
49
34
29
98
63
24
63
151
3
42
41
22
36
29
113
70
14
62
154
3
42
41
20
36
32
138
80
10
63
129
2
34
31
12
31
31
162
91
5
65
95
2
18
26
10
21
28
191
102
8
54
88
2
18
'25
9
18
26
214
112
8
51
78
'3
13
'21
7
19
'22
236
118
14
59
98
5
13
24
8
'27
'29
262
125
20
63
117
8
15
22
6
38
34
*217
*>247
*181
v 209
70
24
58
20
59
24
50
22
61
24
54
23
65
24
61
24
70
26
69
26
78
35
83
36
83
42
94
44
86
48
108
56
87
50
107
61
117
85
136
95
148
135
147
129
••194
'201
'170
'172
12,916
63,188
952, 418 242,523
196,832 147,626
755, 586 94,897
12,751
227,298
81,717
145,581
12,289
11,416
257,691 263,608
108,447
67,452
149, 244 196,156
12,004
278,262
43,346
234,916
CONTRACT AWARDS, PERMITS, AND
DWELLING UNITS PROVIDED
Value of contracts awarded (F. R. indexes):
Total, unadjusted
1923-25=100..
Residential, unadjusted
do
Total, adjusted
_
._
...do
Residential, adjusted
_.
do..
Contract awards, 37 States (F. W. Dodge Corp.):
Total projects
number__
Total valuation.__
thous. of dol_.
Public ownership
do
Private ownership
do
Nonresidential buildings:
Projects
number..
Floor area
thous. of sq. ft__
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 do]..
Utilities:
Projects
number..
Valuation
thous. of dol__
Indexes of building construction (based on building
permits, U. S. Dept. of Labor):}
Number of new dwelling units provided-1936-39=100..
Permit valuation:
Total building construction
do
New residential buildings
__do
New nonresidential buildings.
do__~_
Additions, alterations,.and repairs
do
Estimated number of new dwelling units in nonfarm
areas (U. S. Dept. of Labor):
Total nonfarm*
number. .
Urban, total K
do
Privately financed, total
do
1-family dwellings
do
2-family dwellings
do
Multifamily dwellings
do
Publicly financed, total
do
Engineering construction:
Contract awards (E. N. R.)§
thous. of dol__
15,481
14, 298 15, 332 16,772
13,342
316, 571 370,087 330,685 357, 501 387,399
61,821
60, 554 60,819
46, 715 56,449
256,017 309, 268 268, 864 310, 786 330,950
5,332
5,012
4,731
32, 700 35,330 39,871
181,033 195, 626 207,671
42, 573 52, 733
697, 593 734, 911
146, 404 127, 016
551,189 607,895
4,878
45,285
290,963
3,004
4,224
4,089
4,113
21,350 22,656
13, 569 13,744
87,414 • 90,479 121, 561 143,353
56, 264
74,992
463, 600
7,436
10,237
47,206
6,184
7,716
41,779
6,277
8,385
46,273
5,895
7,613
42, 711
6,140
8,587
42, 580
7,325
11,754
59,886
9,297
15,911
88,374
9,190
17,115
86,134
10, 071 11,469
18, 572 18,423
89, 715 102,079
1,684
156, 626
2,031
71,239
1,915
40, 454
1,566
52,855
1,143
44,379
893
35,875
768
40.908
590
43, 214
478
36,126
366
26,841
415
815
37,687 120, 230
1,039
95,964
362"
41, 229
445
36,664
428
54, 586
357
37, 002
265
33,165
240
18,774
237
20,151
262
30,828
180
14, 836
195
23, 358
240
27,035
273
32,175
4, 450
4,648
4,700
37,656
36, 335 37,839
193, 589 217, 587 220,598
7,416
4,769
50, 631 41, 676
278, 725 236,182
34, 066 46,652
49,198 ' 65, 530
275, 241 370, 590
276
23,397
264.7
72.9
78.3
91.8
75.3
84.3
112.4
117.7
111.0
159.2
189.9
319.1
'294.0
207.2
319.7
116.5
189.0
77.1
'70.1
'67.4
118.1
83.3
78.9
57.7
159.1
96.7
89.6
83.3
147.1
99.0
84.1
88.6
159.1
109.6
91.5
99.3
176.6
152.3
137.5
142. 5
210.8
149.4
143.4
141.7
181.9
172.3
149.5
195.4
163.8
175.2
187.6
159.7
187.9
205.9
215.0
190.8
224.9
423.6
407.7
444.3
406.5
' 235.6
' 352. 7
r
140.7
' 218.5
71,770
45,909
42, 876
35, 645
2,739
4,492
3,033
18,700
12, 650
11, 222
9,517
934
771
1,428
22,300
13, 626
11,988
10,437
550
1,001
1,638
23,300
15,913
12,956
10, 464
982
1,710
2,957
20,400
13,059
12,915
11,206
626
1,083
144
190, 614 170,984
213,960
560, 244 164,956
21,800 ' 30,100 ' 31, 900 ' 29,500 '43,284 ' 48,100 82, 881
14,619
19, 496 20, 417 19,256
30,097 33,126 ' 55, 394
14,619
19, 496 20, 417 19, 256 25, 918 28,503 r 50,066
12, 567 16, 582 17, 421 15,494 21,786 24,072 ' 41, 785
1,069
845
1,241
857
1,309
1,792 ' 2,683
1,927
207
2,521
2,057
2,823
2,639 r 5, 598
450
0
780
334
4,179
4,623 ' 5,328
235,155
23S, 436 315, 709 238, 009 348, 277 248,025
383,981
' 77, 300
' 50,974
45, 418
39, 000
2,571
3,847
' 5, 556
536,190
HIGHWAY CONSTRUCTION
Concrete pavement contract awards:!
Total
..thous. of sq. yd_.
2,092
4,197
5,152
2,066
1,981
2,071
2,130
1, 563
1,187
1,641
1,819
2,906
Airports
__do
416
99
2,901
1,030
1,123
248
25
242
65
58
209
43
70
Roads ._
do
3,355
554
690
592
703
734
1,121
1,829
1,087
946
1,475
2,211
2,510'
Streets end alleys
_
do
1,698
743
345
377
1,030
428
708
237
418
486
301
626
978v Preliminary. ' Revised. § Data for May, August, and November 1945 and January and May 1946 are for 5 weeks: other months, 4 weeks.
% Data published currently and in earlier issues of the Survey cover 4- and 5-week periods except that December figures include awards through Dec. 31 and January figures begin
Jan. l; beginning 1939 the weekly data are combined on the basis of weeks ended on Saturday within the months unless a week ends on the 1st and 2d of the month when it is
included in figures for the preceding month (exceptions were made in the case of weeks ended Apr. 3, 1943, and Feb. 3,1945, which were included in the preceding month).
1 Revised 1942-43 data for urban dwelling units are available on request. Data for publicly financed units, shown separately beginning in the May 1946 issue of the Survey,
were formerly included in the 1-family classification; they have not been reported by type of dwelling since April 1943 but have been almost entirely 1-family since that date. These
data and the indexes of building construction above, based on permits issued or Federal contracts awarded during the month, prior to 1945, are considered a measure of construction
started during the month; in recent months critical shortages of building materials and limiting orders have caused considerable delays in the start of construction, or, in some cases,
abandonment of the work; the data since the beginning of 1945 should therefore be considered as volume of construction for which permits were issued or contracts awarded rather
than volume started during the month.
•New series. Estimates of total nonfarm dwelling units include data for urban dwelling units given above and data for rural nonfarm dwelling units which are not shown separately; monthly estimates are now available corresponding to the quarterly estimates shown in the November 1942 to October 1945 issues of the Survey; the monthly figures beginning
January 1939 and annual totals for 1920-38 will be published later. The data on new construction activity since the beginning of 1944 are joint estimates of the U. S. Departments
of Commerce and Labor; several of the component series have been revised recently, the revisions extending in some cases back to 1929; data beginning May 1945 have been revised
above; monthly data for January 1939-April 1945 and annual estimates for 1915-38 are available upon request.
tRevised series. The index of purchasing power of the dollar based on prices received by farmers has been shown on a revised basis beginning in the April 1944 Survey. The
indexes of building con
instruction have been revised for January 1940 to October 1944; revisions are available on request; see also note marked "\" concerning recent data.
SURVEY OF CURRENT BUSINESS
S-6
1945
1946
Unless otherwise stated, statistics through 1941
and descriptive notes may be found in the
1942 Supplement to the Survey
May
July 1946
May
June
July
August
1946
September
October
Novem- December
ber
January
February
j
March j April
CONSTRUCTION AND REAL ESTATE—Continued
i
CONSTRUCTION COST I N D E X E S
Abertbaw (industrial building)
19*4«=100
American Appraisal Co.:
Average, 30 cities
-.
1913«=10O__
Atlanta
do___.
New York
.
do......
San Francisco
do
St Louis
do
Associated General Contractors (all types)
-do
E. H. Boeckh and Associates, Inc.:
Apartments, hotels, and office buildings:
Brick and concrete:
Atlanta
_ U . 8. average, 1026-29-100..
New York
do....
San Francisco
- --do
St Louis
. do .
Commercial and factory buildings:
Brick and concrete:
Atlanta
- do
Pan Francisco
St Louis
Brick and steel:
Atlanta
New York
San Francisco
St Louis
Residences:
Brick:
Atlanta
...
.._—_
248
258
269
275
271
243
259
229.4
270
276
271
244
266
230.0
271
276
272
245
268
230.0
272
279
272
245
270
231.0
276
285
275
248
275
232.5
278
287
275
248
275
238.0
282
292
280
248
278
239.0
283
293
280
249
278
241.0
286
303
281
261
280
245.0
294
314
298
273
288
247.0
303
325
313
279
296
247.0
133. 5
177.9
156.2
159.9
122.6
155.8
145.0
146.8
123.6
156.6
145.0
147.6
123.6
156.4
145.0
147.6
123.6
157.1
145.0
147.6
124.8
157.9
145.0
149.1
124.8
159.2
145.7
149.6
125.1
159.4
145.9
149.9
127.4
169.8
146.7
150.8
130.4
169. 8
149. 2
150.8
133. 6
172.1
151 8
151.1
131.3
172.9
153 8
152 7
133. 2
177 4
155 7
154 3
131. 2
179.7
156.9
163.8
122.2
157.5
147.2
149.2
123.0
158.1
147.2
149.8
123.0
157.9
147.2
149,8
123.0
158.6
147.2
149.8
124.2
159.4
147.2
150.9
124.2
ICO. 6
147.6
151.3
124. 4
160 7
147.7
151.5
127.3
170 4
148.3
152.6
128.9
170 4
151.1
152.6
129.3
172 9
151.8
152.8
129.5
173 5
154 6
155. 0
131
179
156
155
131. 5
175.1
156. 6
159. 5
123.0
154.9
147.9
145.1
123.8
155. 5
147.9
145.7
123. 8
155.0
147.9
145.7
123.8
155.7
147.9
145.7
124.0
156.7
147.9
148.0
124.0
158.1
148.6
148.4
124.4
158. 2
148. 7
148.8
127.0
167.0
149.3
149.5
128.9
167.0
150.3
149.5
129.3
169.0
152 3
149.9
130 1
169. 6
154 5
152.1
131 3
174.7
156 2
J53 1
- - - do .... 144.9
1R0. 7
1 f,8. 0
165.8
131.6
159.5
146. 3
153.2
132.4
160.1
146.3
153.8
132.4
160.1
146.3
153.8
132.4
161.1
146.3
153.8
134.1
162.6
146.3
154.8
134.1
164. 5
147.3
155.2
135.5
165.1
148 0
156.6
137.9
173.1
148 6
157.7
140.8
173.1
150 6
157.7
141
174
1*4
158
141
175
155
159
2
5
3
5
144 7
180 3
157 6
162 2
147. 4
181.0
3 5fi. 5
165. 0
133.6
161.1
144.4
154. 3
134.4
161. 7
144.4
154.9
134.4
161.7
144.4
154.9
134.4
162.3
144. 4
154.9
135. 3
163.0
144.4
155.4
135. 3
164.1
144.9
155.8
137.1
165. 0
145.8
157.6
138.4
173. 7
146.4
158.3
142.6
173.7
147.7
158.3
143 0
175.6
153 0
159.5
143 0
176 2
15? 7
159. 8
147 2
180 6
156 1
163.0
264. 2
347. 9
239.4
309.0
239.6
309.0
239.9
309.1
240.0
309.3
240.4
309.3
240.6
309.3
240.8
313.5
242.2
316.3
243.9
319.5
245.4
323.8
334. 6
257 3
339.7
143. 5
139.2
152.3
136. 8
133.4
143.8
137.0
133.5
143.9
137.2
133.8
144.0
137.4
133.9
144..4
138.0
134.1
145.9
138.4
134.6
146.1
139.0
135.0
147.1
139.2
135.2
147.3
139.6
135 5
147.8
r
140 3
r 136 3
148.! 3
141 0
r 127 -[
148.8
142 1
138 0
150.3
41,839
6,262
38,703
6,302
20,236
6,339
28,761
6,372
23,667
6,401
35,102
6,436
32, 710
6,468
32, 598
6,499
38, 722
6,538
34,543
6, 569
42, 377
6, G03
45, 513
•• 6, 639
487, 435
487,041
469,269
489,389
464,157
555,893
560,180
527,424
634,117
618, 763
765, 973
8S7, 266
163,079
167,311
160,399
173,C63
162, 433
196, 379
198,159
187, 710
216,842
225, 519
300,163
342 999
458
451
954
246
13,032
120, 244
15,887
3, 396
10, 520
17, 567
116,798
17,147
3,364
12, 435
17. 058
112, 761
15,622
3, 351
11,007
20,730
120, 557
17,146
3,971
11, 259
16, 375
23,085
113,103 135 224
16, 786
IS, 751
4, 857
3, fc80
12,1S9
13, 562
24, 481
135 685
19,411
4, 48.7
14, 095
22, G22
129' 557
17 848
3,958
13, 425
30, 807
145 342
21 372
3, 803
15, 518
30, 866
154 219
19 801
4, 217
10, 416
45, 391
20 9 C:f>5
24 244
0', ] 98
21,835
53, 202
235 877
24 882
0, 796
22, 242
173
51
132
122
112
753
985
9.1
34,153
£05
10.0
34,099
945
8.3
34, 054
925
8.9
34,096
do
___-d(>.
-.do
..do...
- ----do
-- - - . - .
do
-
232
268
274
270
243
259
229.3
-
.
-
232
310
332
318
283
300
249.0
-
St Louis
do_._.
Frame:
Atlanta
do
New York
. _
...
... do
San Francisco
- do. _
St Louis
_. .... do
Engineering News Record:
Building cost*
. . .-.-1913=100.Construction (all types)
do
Federal Home Loan Bank Administration:
Standard 6-room frame house:!
Combined index
1935-39*= 100 Materials
do
Labor
do
2
9
0
8
0
3
5
8
REAL ESTATE
Fed. Tious. Adisn., home mortgage insurance:
46,113
Gross mortgages accepted for insurance ..thous. of dol.
6,679
Premium-payiog mortgages (cumulative).mil. of dol._
Estimated total nonfarm mortgages recorded ($20,000
and under)*
thous. of del.. 964, 438
Estimated new mortgage loans by all eatings and lean
associations, total
thous. oi doL 361, 298
Classified according to purpose;
Mortgage loans on homes:
Construction
,
_._.-..--..do. ... 62,189
Refinancing
. _ do
Repair? an<^ reconditioning
„ _ do
Loans ff>r HU otb^T purposes
do
loans outstanding of agencies under the Federal ilon>e
Loan Bank Administration:
Federal Savings eud Loan Associations, estimated
mortsa^es out^tapdirifrt
mU of dol
Federal Home Loan Banks, outstanding advances to
member Institutions
.
- - - mil. of do]..
Home Owners' Loan Corporation, balance of loans
1
ont-t^nd^DP
Foreclosures n o n f a r m i n d e x adjustedf
Fire losses----.
_.,
-
mil. of do' _
1935-39—100
thons. of dol_.
243,
24,
6,
24,
46, 094
2 38 9
2, 255
2 165
9 572
100
87
97
195
174
165
153
156
8.5
32,447
887
8.2
34, 470
8G9
9.0
37, 3C3
852
79
49, 4*78
831
8.8
40, 808
813
7.8
51, 759
794
8.3
53, 252
773
52,153
DOMESTIC TRADE
ADVERTISING
Advertising indexes, adjusted:!
127.9
144.1
151.7
Printers' Ink, combined index
193B-39-=lC0.
144.9
131.0
141.3
149.1
139.4
157.7
151.9
If2. G
157.8
145.1
173.4
Farm papers
_.._._
...
do...158.6
1S5. 3
170.6
192. 2
201.9
177.6
180, 4
161.5
159.6
179.9
Magazines
„
,
.
,_do_.._
205.5
214.0
189.5
158.7
170.6
200. 3
193.2
207.4
203.8
173.1
176. 2
Newspapers.—
-do
100.0
100.3
117.7
110.7
118.4
105. 3
127.2
111.5
127.2
111.0
122.8
140.0
158.7
175.1
Outdoor
..._._
do
154.7
156. 7
202.0
153.3
218.1
222.6
216. 7
Ifi7. 2
Radio.
do.__.
315.1
289. 5
801.5
317.0
321.1
283. 3
279.8
268.2
273.7
298. 5
273. 8
Tide, combined fndex*
do
141.6
147.2
165.8
179.8
171.8
168.4
162. 9
162.5
183.0
104. 5
175.0
Radio advertising:
16, 343
14, 521
15, 317
Cost of facilities, total
_.
,
tbous. of do!.. 16. 808
14, 762
15, 217
16,689
16,776
17, 449
17,179
15,758
17, 273
Automobiles and accessories
„
. . . . . . d o . . . . .1
803
711
645
516
501
779
788
928
884
922
815
192
Clothing..
.._-._...-.-..._-«..._..
..do.-_J
176
125
128
211
193
214
224
257
208
209
ISO
301
Electrical household equipment....
do |
204
210
197
218
296
314
266
351
803
S01
325
345
Financial
do j
263
229
261
308
233
327
?-43
305
308
287
293
Foods, food beverages, confections....
do>.__| 4, C77
4,513
4,002
3,034
3,933
4,079
4,502
4,420
4.312
4,473
4,102
4,483
f
Revised. JMinor revisions for Januaryy 1939-Julyy 1942 are available
on request.
a o
equest.
"New series. F
d i t i
th scries
i on nonfarm
f
t
d d and
d data for January 1939 to September 1942 see p. S-5 of the November 1942 Survey. For a brief
For a description
off the
mortgages
recorded
h Tide index of advertisingg see note marked
description
p
of the
a e d "*" on p. S
S-6
6 of the April 1946 Survey; data beginning 1936 are available on request. The Engineering News Record
index
exceptt that
i d off building
b i l d i cost is computed in the same manner as the construction cost index which is described in the 1942 Supplement
S u p p l e m t to
t the Survey,
S
t h t skilled
killd labor
l b is
i substituted
btittd
for common labor; data beginning 1913 will be shown later.
f Revised series. The index of nonfarm foreclosures has been revised for 1940 and 1941; revisions are shown on p. S-6 of the May 1943 Survey. Index
Ink have been published on a revised basis beginning in the April 1944 Survey; revised data beginning 1914 will be published later. The indexes of co
house are shown on a revised basis beginning in the April 1946 Survey; see note in that issue; revisions beginning 1936 will be shown later.
July 1946
SURVEY OF CURRENT BUSINESS
Unless otherwise stated, statistics through 1941
and descriptive notes may he found in the
1942 Supplement to the Survey
1946
S-7
1945
May
May
June
July
1946
September
August
October
Novem- December
ber
January
February
March | April
DOMESTIC TRADE—Continued
ADVERTISING—Continued
Radio advertising—Continued.
Cost of facilities—Continued.
Gasoline and oil
.thous. of dol.
Housefurnishings, etc
do___
Soap, cleansers,""etc
do__.
Smoking materiaIs
do_ _ _
Toilet goods, medical supplies
do_._
All other
do._Magazine advertising:
Cost, total
1
do...
Automobiles and accessories
do...
Clothing
do___
Electric household equipment
do__.
Financinl
do___
Foods, food beverages, confections
do___
Gasoline and oil
do.__
Housefurnishings, etc
do__.
Soap, cleansers, etc
do_ _ _
Oflice furnishings and supplies
do___
Smoking materials
do___
Toilet goods, medical supplies
do
All other
do
Lineage, total
thous. of lines-.
Newspaper advertising:
Lineage, total (52 cities)
do
Classified
do....
Display, total
do
Automotive
do
Financial
do
General
do
Retail
do_I_.
535
173
1,482
1,33 6
5, 300
1,688
581
173
1,090
1,489
5, 008
2,056
562
162
1, 059
1, 363
4,859
1, 774
604
148
1,147
1,296
4,539
1,877
571
148
1,185
1,235
4, 495
1,839
31, 993
1,771
3,276
855
583
3, 893
559
2,420
655
618
754
5,154
11,453
4,271
24, 987
2,005
2,092
779
474
3,306
535
1,520
677
495
826
4,140
8,139
3,753
23,956
2, 041
1,544
826
441
3, 056
523
1, 344
554
405
662
4,280
8,281
3,315
20, 335
2,005
706
576
355
3,277
481
569
407
306
660
3,736
7,257
3, 528
22, 028
2,124
1,732
699
408
2,822
471
806
463
347
635
3,645
7,876
4,124
28, 701
2,397
2,970
'886
506
3,605
561
1,630
497
639
829
4,431
9,750
4, 745
31, 649
2,683
3,026
1,135
622
3,962
430
1,969
520
674
1,061
5,315
10, 251
5,094
107, 532 101,832 110, 942
26, 338 26, 629 27, 525
81,194 75, 203 83,417
2, 580
2,378
2, 231
1,581
1,466
2,223
18, 973 17, 776 18, 006
58, 524 52, 826 61, 251
121,094
27, 921
93,173
3, 033
1,726
21, 890
66, 524
136, 950
29. 626
107, 323
3,947
2,272
26,032
75, 072
90.4
90.4
91.1
5,847
5,371
6,113
5, 990
161, 378 147, 207 199, 536 196,041
4,383
171,036
5,956
214,157
5,612
180, 573
6,292
143, 954
5,111
143, 366
thousands.- 14,154
13, 392 13, 409 12,142 12,161
thous. of dol— 190, 934 224, 562 216, 969 202, 383 209,346
CONSUMER EXPENDITURES
11, 606
195, 669
13, 482
218,155
13, 562
223,874
12, 926
206, 329
14, 925
224, 455
143,691 117, 318
35,143
27, 594
108, 548 89, 724
3,479
2,523
2,159
1,836
22,315
20, 388
80, 595 64, 978
584
164
1,192
1,259
4,747
1, 976
610
149
1, 347
1,337
5,462
1,994
592
166
1, 306
1,273
5,318
2,076
30, 597
2, 344
2, 579
1,187
524
3, 944
436
1, 761
554
617
1,031
5,197
10, 423
4,804
140, 761
28,120
112, 641
5,363
2, 003
26, 022
79, 253
171
1,273
1,322
5, 513
2,102
650
164
1,4:
1,342
5, 660
1,921
30, 446 ' 21, 404
1,547
2, 456
2,125
1,612
469
1,136
488
' 528
3,124
4,008
233
339
935
1, 690
371
442
326
637
1.104
836
3,507
4,930
11,050
7,953
4,139
4,037
130, 756
26, 321
104, 435
3,904
1, 999
21, 304
77, 228
115, 746
28, 648
87, 098
2, 855
2,741
18,916
62, 585
620
149
1,319
1,211
4, 920
1,796
696
170
1,402
1,328
5, 374
2,001
26, 403
1,416
2, 336
783
588
3, 983
••306
1,227
606
486
805
4,889
8,976
4,604
31, 752
1,445
3, 499
797
624
4,472
'•346
1, 964
765
657
929
5,330
' 10, 924
4,910
' 33, 610
1, 522
3, 645
893
647
4,416
524
r
2,105
702
695
870
5,624
11,973
4,775
146, 539
36, 097
110, 442
2,784
2,365
23, 083
82,210
144,013
35,147
108,866
3,427
2,388
23,934
81,117
5, 571
123,104
5,559
135, 593
5,518
120,882
12, 954
187, 773
15, 473
233,141
15,094
208, 273
r
121,177
29, 677
91,499
2,092
2,076
21, 057
66, 274
537
153
1,445
1,270
5,145
' 1, 728
GOODS IN WAREHOUSES
Space occupied in public-merchandise warehouses §
percent of total..
POSTAL BUSINESS
Money orders:
Domestic, issued (50 cities):
Number
Valuo
Domestic, paid (50 cities):
Number
Value
86.0
87.8
thousands..
4,729
..thous. of dol— 105, 671
Estimated expenditures for goods and services:*
Total
mills, of doL.
Goods
do
Services (including gifts)
do
Indexes:
Unadjusted, total
_._ 1935-39= 100
Goods
do
Services (including gifts)
do
Adjusted, tots 1
do
Goods
__do__I.
Services (including gifts)
do
87.!
25, 480
17,175
r 8, 305
26, 260
17, 930
8,330
30,056
21, 775
' 8, 281
'178.7
191.5
156.1
180.:
193.4
156.9
204.5
232. 6
155. 2
r
173. 3
183.5
155. 6
172.8
182.7
155.5
88.4
27,897
19, 335
' 8, 562
189. 8
206.5
160. 4
204. 5
230. 4
159.1
191. 6
212.4
155.2
RETAIL TRADE
Ail lot ,il s t o es f
K s t r i . i U U«!o, f total
U
u
tble go
\
t 1! m i l
vioioi
i'
1
do
l'HlO,.p
d O . " I
\ < > ' ) u " ->
)K
uid
tuiiHiiiL
T
t
do
v««-M)ru's
>K t v n
i i ' i g i . i i t c n «li>
air'
i,i-
II
i
' \
do
ls.Md H a u l " die
lj'ii1
|i»'i
. . .
do
do
• ,[S
do
".
d o —
III) 'H Ml.n Mi " s 'M(,l,'-)
J ii' iut I I 1 u r n i V M ^ f C r r j i i - h i n ^ s
lln i • ' ol I d p p n u i i L a i i d r . i l i o
Jo\v( li \ st >'ts
N o ' w i i. l ^ i r o j ' i s t > i o
_
A'D'-'i'i"!'1'
\ ' i n ' - 1 lot u i n ° a i i d f i n n ^ i M ' i w S
Vv') IH u s i[)p • ( ! ' i n l ' U t e s v j i K s
i i " i ' l . , a n d oiMei j p j u u L
Slioos
Drug
^ ms
1
.ii'ig i
1 di i il pig pi ite5-
dO
do
do
do
do
do—_
do
do
do
do
do
.
d.
V\m
*
'ti
V
1 inn
Ii R S
I M
- r i d
' . ,
v
»\
'
]
0
1 »lt»
" u\t»\
1 > ill > t - l i l e o n
i m i
P< r t . v
. u i i f i i l i o
Jl,
* ol
t he
F e b r u
« 1 h t u n
c
> s, 1
HI 1 i"rl,. 1 i-vica o
p
182
79
357
209
48
100
237
190
48
82
5, 216
507
122
277
78
90
>1
1,0!)
97(1
,4>
4
1
1 \
rd
to
u
)'()
>
1
t
-
i
1
,
t ,
(
1 id
-
w
<
1
)
111 1 1 \
)
1 t
\ W <>, o l
1
m f i
1 ,'i
1,
'
r
>
1
i»
1
1
5, 985
921
277
187
89
354
210
46
98
219
108
51
72
5, 064
484
105
223
69
87
211
1 < *)
i
J'M
note m i ' u d ' § ' on p -.-' < f f L
ii 1 i ( > 4 i
6,304
965
283
194
89
368
216
47
104
232
184
49
82
5, 339
' 604
148
209
86
- 1
21")
2H
d) _
do
do
do
, v j i i ' a V,M c o ' i ^ 1 1
h ) M i l i i » o U v . i
I ' M ^ ' H \ L \
6,154
938
262
(
do
I \ . » K r . > >•)
d ' K ^ uid i ^Uilun iAu i
Ol 1 (i K) j i
.
Fi'ln1 ^ uris
01 t i > "
7,853
1, 561
541
417
124
536
322
62
152
385
282
103
99
6, 202
704
170
320
93
m i l l , of d o l . .
>u^ s f < > i e
2 i
i* '
2 S
55*5
110
206
1 71
1, «>
6, 398
946
286
193
93
363
228
38
98
224
171
53
72
5, 452
656
150
308
92
106
7,124
1,138
327
219
108
440
284
45
112
283
223
GO
88
5, 986
784
207
355
113
108
943
724
298
425
282
989
1,780
1, 349
431
296
7,181
1,161
344
236
108
401
248
41
112
306
233
74
110
6, 020
781
208
340
114
118
256
953
1, 709
1, 355
414
276
8,489
1,315
326
205
121
381
215
36
130
361
265
96
240
6, 695
108
'357
246
111
401
262
40
99
273
196
77
7, 174
986
275
421
153
137
375
968
1, 99C
1,527
469
278
5, 587
576
129
274
83
JO
274
951
1, 823
1, 375
448
296
6, 430
1, 060
321
381
244
38
100
284
210
73
74
5, 370
566
125
90
880
1, 713
1, 297
416
270
7,473
1, 267
377
261
116
475
295
50
129
334
248
86
82
6,206
760
104
382
98
116
283
088
1,915
1,456
459
300
7,707
1,430
454
333
121
525
322
58
145
362
268
95
89
6. 277
814
193
375
107
139
284
967
1,880
1, 408
472
297
r <* in re
i l f ) I 1 r t v - i t of t ' - e r e p o r i ' n a r a u ' V i e i.i Aun:<-'t ;'.)12.
Iv i i
l i t u i ( l,vr ]')\2
'irvc'v (•)!). S - i - i i , ; . t e uo'. 1 e\>m[ iied q u a r t e r l y o n l y (d:.tn r r e
< ii o n
! )1 t 1 < »
n a t i o n a l , l o d u c t Vi-i '".'<; for <.. 1: ir i k n r e - for 1939 10 HH- p . 1*3, t i J ' l e 10,
t
i i ti i I ~»k
el tl ( v ' a b JVC ;ire o n a r e \ i.vid b a s i « . i he1}7 diiTe.r f r o m f i g u r e s j>i: l< li>I)ceMn t l i e
f
i {
iiit'
i ,\ 1 i n i'hi' u . M l a n d s r \ i-vs (<1>\\A- i i n . i o s fdr t h i s i t e m a r e e i v e n in t h e foot1
i
' i
i i e x c 1 ( !i}' c " i » o n d i t " r c s IA i i ' I l i f . r y I t r s o n n e l a b r u a d . i.re j u j i i l n r . l c o n r o q u e ^ t .
I, » » , ( • >
•>, lf),*M s a \ i c > b, 2 2 , ; indv-\v.-s, L i i m d i ' ^ t e d — t o t a l , 167.7; g o o d s , 175.5; s e r \ i c e s , 151.2; n d -
.il 1
H« N i l ' i - ie> foi , n ,r ( j r a r t e r of r j t i
* n n m t ( r ' l ) i s oi
»' i ) - i o
ju'-ti* 1—to* il, i~s 1, -ood-., 195 0, ^e>r( K . ^ , I >_> /
t i v ( " i s J d '-cue1 o r r o \ ] s e d (L 11 (d > l h r i i ^ u r e ^ l i d n d c
) Oi s i ^ o f t
«^Mu u r l
19 r i d 20 of t n e - ' p t e m b e r 1915 r V « r \ e \ ( u j n u t u i r foi p M
t i 1 J . 1 I i 1 H >— 11 lid 1 / i
st<^re-,, 2i)l 0, 19K) l o U i r f m n r t s a l l r e t d l s u m — J i n » > r \ , 3 1 »S I d > ' i r
i n s) (^ce t t ^
l
1 1 - 1 1 of t h e V ( v e i i b e r 1913 S u r \ e y . D\t\
h u e b ^ I re ^ ^ d be nn u . i , J \ , i i . i r \ 1 1), 1 ^ e l y
pnbhshed liter.
6, 320
940
290
194
96
359
222
40
97
218
165
53
73
5, 381
i ' n P 10 ( 3 t > T u n e 1911, a n d e( r l i e r r e \ i s i e n s for a n u m b e r of s e r i e ^ , s^c t:il;le o n p p .
n l t i i i l ^ n d l i a r d w a r e s t o r i v , 14^.6; j e v oirv :-«orcs t 400.7; J u n e 1941 i n d e x for a p p ; i r e l
t n i n t l i 1 i b V , d a t a for 19:29, WH3, a n d 193.V12 a r e c o r r e c t a s p u b l i s h e d o n p >. 7 a n d
t o a a u s t t h e e s t i m a t e s t o s a l e s t a x d a t a for 1945; r e v i s i o n s n o t s h o w n a b o v e w i l l b o
SUKVEY OF CURRENT BUSINESS
S-8
Unless otherwise stated, statistics through 1941
and descriptive notes may be found in the
1942 Supplement to the Survey
1946
July 1946
1945
May
June
May
July
August
1946
September
October
Novem- December
ber
January
February
March
April
DOMESTIC TRADE-Continued
R E T A I L TRADE—Continued
All retail stores—Continued.
Estimated sales—Continued
Nondurable goods stores—Continued
General merchandise group
mil. of dol._
Department, including mail order
do
General, including general merchandise with
food
mil. of doLOther general mdse. and dry goods
do
Variety
do - . .
Other retail stores
do.._
Feed and farm supply
do-__
Fuel and ice
do-_.
Liquors
do - . _
Other
do.._
Indexes of sales:
Unadjusted, combined index
1935-39=100-Durable goods stores
do
Nondurable goods stores
do
Adjusted, combined index
do
Index eliminating price changes
do
Durable goods stores
do
Automotive
do
Building materials and hardware
do
Homef urnishings
do
Jewelry
do
Nondurable goods stores
do
Apparel
do
Drug
do
Eating and drinking places
do
Food
do
Filling stations
do
General merchandise
do
Other retail stores
do
Estimated inventories, total*
mil. of doL.
Durable goods stores*
do
Nondurable goods stores*
do
Chain stores and mail-order houses:
Sales, estimated, total*
do
Automotive parts and accessories*
do—
Building materials*
do
Furniture and housefurnishings*
do
Apparel group*
do
Men's wear*
do
Women's wear*
do
Shoes*
do-__
Drug*
do
Eating and drinking*
do
Grocery and combination*
do- _ _
General merchandise group*
do
Department, dry goods, and general merchandise*
mil. of doL.
Mail-order (catalog sales)*
do_. _
Variety*
do
Indexes of sales:
Unadjusted, combined index*
1935-39=100Adjusted, combined index*
do
Automotive parts and accessories*
do--_
Building materials *
do - - .
Furniture and housefurnishings*
do
Apparel group*
do__Men's wear*...
do_-_
Women's wear*
do.__
Shoes*
do.__
Drug*
do-._
Eating and drinking*
do-_Grocery and combination*
do--.
General merchandise group*
do- _ Department, dry goods, and general merchandise*
1935-39=100Mail-order *
do _ - _
Variety*
do--Department stores:
Accounts receivable:
Instalment accounts§
1941 average=100O pen accounts §
do _
Ratio of collections to accounts receivable:
Instalment accounts §
percentO pen acco unts §
do.. .
Sales, unadjusted, total U. S.f
1935-39=100Atlantaf
do. _ .
Bostonf
do...
Chicagof
do.._
Cleveland t
do.. _
D alias t
do__Kansas Cityf
do___
Minneapolis t
do...
New Yorkf
do.._
Philadelphiaf
do. _.
Richmond f
do _ _ _
St. Louist
do._.
San Francisco
do...
1,154
763
885
557
904
563
792
471
846
521
141
118
132
831
233
111
154
333
117
96
116
706
217
124
127
238
119
100
122
699
205
124
129
242
114
91
115
685
204
128
126
227
116
94
116
724
212
137
142
232
240.2
193.9
255.3
234. 9
162.6
181.4
120.9
231.2
257.7
402.0
252.4
265.8
248.2
388.3
248.9
138.4
223.0
267.6
7,137
2,234
4,903
188.7
116.5
212.2
184.6
132. 7
108.3
58.5
153.5
156. 7
332.4
209.5
215.2
202.0
355.9
208.5
106.3
170.2
227.9
6,654
1,932
4,722
192.4
120.5
215.8
189.6
134.9
113.8
61.8
160.9
170.8
314.5
214.3
231.6
206.1
358.6
206.7
111.9
178.3
235.0
6, 547
1,891
4, 656
187.8
118.0
210.5
198.4
140.8
119.7
61.8
169.9
180.8
372.6
224.0
261.3
202.3
348.8
212. 2
118.4
190.7
258.5
6,363
1,824
4, 539
180.5
113.3
215.7
196.2
139.7
114.7
63.7
165.8
158.8
334.5
222.8
262.1
200.1
347.1
216.3
124.4
180.0
254.4
6,653
1.878
4,775
1,669
43
69
23
213
34
103
59
68
48
490
449
259
65
114
220.8
217.0
227.2
227.7
197.
259.
253.7
342.5
180.1
228.
208. 5
217.3
222.
261.4
184.4
184.1
45
129
919
588
117
100
113
687
191
123
136
237
1,105
734
128
115
129
778
209
144
148
277
1,190
810
1,577
1,017
874
566
130
120
137
790
208
128
159
294
152
173
235
693
198
168
225
402
111
92
104
793
203
195
135
2C0
203.7
125.5
229. 2
195.2
139.4
121.7
67.5
169.9
179.5
346.6
219.2
238.9
201.6
353.8
214.7
130.8
177.1
243.4
6, 722
1,969
4,753
215.0
137.2
240.3
207.8
148.4
132.2
74.9
182.2
197.5
354.4
232.5
260.9
213.3
376.8
226.1
135.3
188.0
256.9
6,788
1,935
4,853
227.2
149.8
252.4
220.1
156.5
142.5
80.7
190.2
223.9
375.5
245.4
279.7
224.4
397.6
235.6
134.9
200.0
278.7
6,826
1,892
4,934
260.1
168.1
290.1
216.8
153.6
141.1
72.9
199.8
225.2
379.1
241.5
251.1
249.5
376.6
240.8
140.2
191.6
276.0
5,825
1,620
4,205
' 1, 277 ' 1, 328 ' 1, 225 ' 1, 267 '1,319
23
27
28
30
28
51
54
53
50
58
14
13
14
13
14
154
174
191
146
175
17
23
29
17
26
82
93
96
76
86
45
44
51
42
49
56
55
57
57
55
45
44
43
44
r 44
'375
'380
'394
'390
'369
324
327
340
345
313
173
175
187
180
196
33
43
35
42
39
100
100
98
106
' 1,516
30
70
20
210
40
102
50
60
48
'426
422
' 1, 557 '1,911
33
41
rQ
43
25
21
265
211
41
36
133
101
69
56
91
61
49
46
'511
'447
601
445
' 169. 7 '171.9 ' 167. 4
' 167.3 ' 170. 2 ' ISO.9
119.4
127.0
142.9
169.9
180.8
183.0
122.
144.0
143.5
212.2
223. 4
241.8
169.4
182.
0
182.3
311.5
315.3
319.6
133.6
152. 9
197.1
183.2
190.9
193.2
188. 3
194.4
195.4
' 170.3
163.0 ' 168. 9 ' 177.1
165.1
181.3
177.3
£06.9
182.7
121.8
127.8
118.3
161.6
170.5
162.0
' 198.4
' 188.5
167.2
198.8
151.0
247.0
245.3
333.8
161.3
195.2
192.6
' 193. 7
179.7
' 164. 9
' 178.4
145.4
174.5
114.7
253.9
188.8
332. 4
214.1
189.9
193.8
r
175. 9
172.6
' 179. 5
' 175.3
156.8
174.5
132.7
223.6
200.0
311.6
148.9
187.3
185.1
'179.8
166. 4
199.2
110.9
164.3
189.0
119.8
155.7
234
67
112
203.5
128.4
169.6
245
73
119
324
63
203
' 212. 4 ' 250. 2
'201.9 ' 198.1
191.2
207.0
202.3
195.4
165.3
166.1
26?. 0
234.6
224.4
187.9
339.0
305.6
212.1
190.8
206. 5
228.1
196.2
185.5
' 206. 9 '214. 6
194.6
179.8
224.8
149.4
172.2
207.2
127.
1G3.
899
588
110
90
110
779
207
178
137
258
1,118
754
128
110
125
842
238
151
149
302
206.5
137.6
228.9
237.6
168.3
166.1
88.5
247.4
248.0
394.7
260.9
289.3
240.6
418.9
252.0
164.9
209.4
292.2
5,974
1,714
4,260
215.2
143.2
238. 7
243.3
172.6
172.0
87.7
262.1
260.0
412.3
266.6
317.7
243.2
415.8
246.4
164. 5
225.0
303.2
6, 229
1,864
4,365
225.9
157.2
248.3
241.6
170.1
173.5
89.6
257.8
265.7
429.2
263.8
320.8
242.8
401.0
244.6
155. 4
232.6
288.1
' 6, 542
'2,016
4,526
'1,415
'35
55
15
161
25
81
41
62
48
'464
339
' 1,375
'32
52
' 17
162
24
83
43
61
44
'442
337
' 1,651
'38
'58
20
'228
'34
'121
'53
'65
'50
'504
439
176
65
175
59
95
237
84
108
' 189. 6
' 223.4
' 227. 0
243.8
' 182.3
298. 6
215. 0
' 399. 2
245. 0
211.5
209.8
' 222.9
222.3
' 198.0
' 225. 8
' 224. 4
270.1
' 206. 0
315.4
241.1
414.8
' 258.6
220.0
2Uy. b
'217.9
222.3
213.3
230.8
240.0
251.1
204. 4
328.2
264.6
471.8
219.2
216.1
2U8. 4
217.4
241.5
251.1
222.8
177.3
254, 2
208.0
180.1
272.6
243.4
193.5
32
32
34
33
36
41
45
43
43
76
76
99
113
108
100
114
88
85
32
31
34
32
33
35
40
40
36
32
31
35
62
62
64
64
63
63
66
67
61
61
60
64
163
248
186
183
209
168
230
273
352
179
207
238
225
313
233
279
238
244
307
348
466
246
292
315
127
211
165
176
158
196
225
323
147
125
156
197
154
234
178
197
213
254
320
167
170
158
193
226
161
243
187
199
224
264
338
167
194
177
165
23'
228
322
228
292
318
352
467
248
299
237
'246
316
192
272
200
239
253
286
366
199
238
201
205
255
149
244
172
207
210
243
305
158
183
160
164
223
118
214
155
171
196
235
307
155
174
120
'149
206
137
223
167
178
208
255
328
158
174
136
'164
219
181
274
207
239
271
319
399
197
227
194
209
264
185
272
198
234
255
303
365
192
236
194
209
264
211
285
215
243
254
320
407
214
253
210
218
258
' Revised. §Minor revisions in the figures prior to November 1941 are available on request.
*New series. Revised 1940-43 dollar figures and indexes for total chain store sales and furniture and house furnishings, 1942-43 indexes for all series in the general merchandise group
except mail-order, and scattered revisions in the 1942 or 1943 data for a few other series are available on p. 20 of the September 1945 Survey. Except as given on that page, data for 1929,
1933, and 1935 to March 1943 are correct as published on pp. 15 to 17 of the February 1944 Survey. Data for grocery and combination stores and the total (dollar figures and indexes)
have been revised beginning January 1945; revisions for January-April 1945 will be shown later. Data beginning 1939 for the estimates of retail inventories will be published later;
data shown in the Survey beginning with the June 1944 issue are comparable with estimates published currently.
tRevised series. See note marked "f" on p. S-7 for sources of data through June 1944 for sales of all retail sotres; data have been revised beginning January 1945; revisions for 1945
not shown above will be published later. The indexes of department store sales for the United States and the indicated districts have been revised for all years. The revised Boston
index is from the Board of Governors of the Federal Reserve System. Revised data beginning 1919 or 1923 for the United States, Dallas, and Richmond are published, respectively,
on p. 17 of December 1944 Survey, p. 20 of February 1944, and p. 22 of June 1944 issue (further revisions in the 1943-44 data for Richmond and the 1942-43 data for the United States
are in footnotes on p. S-8 of the March 1946 and April 1946 issues). Complete data for other districts will be published later (see also note in April 1946 issue regarding recent revisions
in the New York and St. Louis indexes). The adjusted index for Kansas City has recently been revised beginning 1938.
35
July 104G
SURVEY OF CURRENT BUSINESS
Unless otherwise stated, statistics t h r o u g h 1941
a n d descriptive notes m a y be found in t h e
1942 S u p p l e m e n t to t h e Survey
1946
S-9
1945
May
May
July
June
August
1946
September
October
Novem- December
ber
January
February
March
263
335
229
243
271
336
275
246
232
244
294
286
297
210
f 237
I 236
r
352
r
,272
224
219
r 224
276
267
291
April
DOMESTIC TRADE—Continued
1
RETAIL TRADE—Continued.
Department stores—Continued,
257
Sales, adjusted, total U. S.t
—-1935-39=100319
Atlantat - - - - - - - _ do. __
213
Boston!
do
234
Chicago! .- _do. __
245
Cleveland!
do
342
Dallasf
_
_
.
„ do _
280
Kansas Cityt
do
254
Minneapolisf
_
do _
New York!
do
226
232
Philadelphia!
do
276
Richmond! . .
_ _ do, _.
277
St. Louisf
do
314
San Francisco - . _ _ _ _ _
do.
Sales by type of credit*
59
Cash sales
- percent of total sales...
37
Charge account sales
-. -do . . .
4
Instalment sales
do
Stocks, total U. S., end of month:!
Unadjusted
_
1935-39=100. _
*>200
v 200
Adjusted
do
Other stores, ratio of collections to accounts receivable,
instalment accounts:*
28
Furniture stores
.percent..
54
Household appliance stores
do
33
Jewelry stores
do
Mail-order and store sales:
Total sales, 2 companies..
thous. of dol— 211,418
Montgomery Ward & Co
. d o . _ 85,065
126, 353
Sears Roebuck & Co
do
Rural sales of general merchandise:
233.8
Total U. 8., unadjusted
— 1929-31=100217.6
East
.
do 311.2
South
_
do
169.4
Middle West
do
3C0. 0
Far West
do _
254.7
Total U. 8 , adjusted
do
237.1
East
_ -. .
. . do .
South
do
3C6.9
210.5
Middle West
do
400.4
Far West
. ._
do .
188
243
160
170
179
•• 262
' 218
171
156
170
210
213
234
202
277
177
184
197
268
218
181
169
185
235
220
233
218
300
183
197
220
300
'226
184
177
198
252
237
255
200
274
166
189
189
272
•"216
178
165
175
236
225
231
200
268
167
193
187
278
•"239
191
161
175
225
232
232
213
292
177
199
209
289
241
190
172
184
248
238
245
225
298
183
208
220
288
'238
203
182
202
251
240
272
216
288
188
206
211
287
""244
199
179
184
237
239
256
228
308
186
209
214
306
'249
212
194
206
262
234
269
254
339
200
241
242
339
'261
236
210
221
2S3
281
300
63
34
3
63
34
3
66
31
3
65
31
4
63
33
4
63
33
4
62
34
4
64
32
4
64
32
4
61
35
4
59
37
4
59
37
4
173
173
175
179
175
176
182
169
184
166
185
164
179
165
136
158
146
167
158
171
172
176
188
189
23
40
33
23
43
33
24
42
31
23
48
31
23
49
30
27
52
31
27
51
35
24
48
46
25
52
32
24
51
29
27
53
32
129, 540
52,080
77,460
130,515
50,003
80,513
118,135
47,158
70, 977
121,455
48,687
72, 769
136,930
55,174
81,757
184, 704
77,295
107,409
196,052
77,013
119,040
218, 216
83, 232
134,984
158,852
53,007
105, 846
150,292
55,231
95,061
207, 055
78, 454
128,601
209, 843
80,073
129,770
164.9
155.4
220.5
141.5
193.1
179.7
168.9
260.0
149.4
214.8
159.6
150.2
216.7
136.4
198.5
175.2
163.6
269.6
144.5
208.3
140.8
121.1
192.2
118.6
188.4
192.9
170.1
283.0
160.7
229.8
144.0
115.4
194.6
125.8
187.4
176 0
144.8
269 9
152 5
203.5
195.3
168.5
281.3
166.6
230.2
184.7
171.4
254.8
162.5
196.8
246.5
249. 6
357.3
208.7
255.1
189.7
193.9
241.1
164.3
212.4
275.7
279.3
396.3
230.0
317.2
211.9
216.7
288.7
175.4
261.5
267.8
246.0
370.2
226.0
330.1
167.5
147.7
246.5
144.9
202.2
208.7
209.3
300.4
177.1
220.1
274.2
275.4
379.8
231.5
299.5
227.1
218.2
348. 1
195.3
222.7
280.7
266. 7
381.7
245.7
300.9
303.4
313.2
449.1
261.9
280.3
345.5
348.8
497 4
295.6
340.6
283.7
277 0
374 1
243 6
321.7
308 7
290 6
424 6
260 8
360 2
3,535
605
2,630
3,883
3,572
886
2,686
3,844
3,569
834
2,735
3,744
3,584
869
2,715
3,759
3, 3£9
813
2,546
S,898
3.933
944
2,989
4,113
3,889
954
2,935
4,196
3.820
919
2,901
4,275
' 4,058
987
3,071
4,258
' 3.786
••966
2,820
4,254
4,055
1,076
2,979
4,375
' 4,183
r
1,180
' 3, 003
14, 413
r
r250
r
28
56
32
WHOLESALE TRADE
Service and limited function wholesalers:*
Estimated sales, total
mil. of doL.
Durable goods establishments
__ do _.
Nondurable goods establishments
do
All wholesalers, estimated inventories* _
- d o
4,343
1,234
3,109
4,434
EMPLOYMENT CONDITIONS AND WAGES
EMPLOYMENT
7,850
12,160 11,890
10, 640
12,218
12,297
12,3C0
Armed forces*..
...thous_.
9,180
6,170
3,430
5,210
4,380
3,840
Estimated civilian labor force (Bureau of the Census):*
53, 310 53, 710 54,340 55, 660 56, 900
54, 350 52, 900 53,110 53,440
Labor force, total
..thous.. 57, 630 i 52, 030 i 53,140 55, 220
35, 020 34, 250 34,590 35,280 36,130 37,550 38,340 39, 370 40, 310
35,140
40,950 i 33,790 i 34,380
Male
do
18,520 18,160
17,180 16,160
19,330 18,650
20,080
16,680 i 18, 240 118,760
16,000 16, 290 16, 590
Female
.__-do
51, 360 51, 420 51,690 52,950 54, 550
53,520 51, 250 51,560 51,730
54, 270
55, 320 i 51, 300 152,060
Employment
...do
34, 590 33,320 33, 660 34,100 34,650 35, 790 36,200 37,170 38,420
34, 660
39,060 i 33,360 « 33,800
Male
do
17,900 17,630
16, 710 15, 630 15,490
18,930 17,930
19,610
16, 260 t 17,940 118,260
Female
do
15, 780 16,130
9,050
8,800
i 7,950
8,420
7,190
6,760
Agricultural.
_
_
do
19,090
9,840
8, 760
8,880
6,990
7,580
8,190
44,
470
42,450
i
43,350
43,310
44,170
44, 660 44, 700 45, 370 46,360
i
42,970
42,
770
44,
430
Nonagricultural
—.do
46, 440
830
1,950
2,290
1730
1,660
1,550
11,080
950
1,710
Unemployment
do
2,310
2,650
2,710
2,350
Employees in nonagricultural establishments:!
Unadjusted (U. 8. Department of Labor):
36, 314 35, 815 ' 35,374 • 36, 281 •••36,928
36,984 35, 321 35,231 35,659
37,679
37,273
37, 435
37,549
Total..
_
do
12,038 • 11,401 • 12,014 r J 2 , 551
11,910
13,831
12,082 11,952 11,970
14,811
12, 645
14,130
Manufacturing
do
14,534
793
802
784
728
810
763
784
718
794
784
Mining..
_
do
801 t '505
808
1,014
1,042
945
798
1,006
1,132
1, 755
927
Construction
do
845
911
1,260 r 1, 345 r 1, 549
3,871
3,831
3,897
3,802
3,860
3,825
3,885
Transportation and public utilities
.
do
3,830
' 3,907 r 3,929 ' 3, 922
3,858
7,571
7,959
7,143
7,481
7,021
6,979
7,C92
7,331
7,004
Trade
do
7,505
7, 622 r 7,759
6,975
4,845
4,936
4,984
4,513
4, 666
5,147
4,603
4, 698
5,031
4,589
Financial, service, and miscellaneous
do
5,076 r 5,140
4,672
5,575
5, 4735,937
5,769
6,006
6,933
5,462
Government
do
5,548
5,701
5,494 ' 5, 502
5,953
5,943
Adjusted (Federal Reserve):
37, 746
35,161
Total
do
35,029 35, 338 35, 605 36, 333
37,480
37,231
35,924 'r 36, 737 ' 37,138
37,465
11, 851 12,098
14,885
13,762 12,022 11,893 11,910
Manufacturing
do
14,130
12,709
11,450
14,534
2, 074 ' 12,614
r
732
789
798
Mining
_
_
do
780
814
784
780
714
767
812
798
801
508
984
782
1,085
Construction
do
858
883
1,230
868
940
1,721
1,385
828
1,466 r 1, 631
3,871
3,916
3,802
3,774
Transportation and public utilities
do
3,956
3,803
3,806
3, 885
3,801
3,986
3,792
3,989 ' 3. 942
7,335
7,056
7,315
7,121
7,215
7,673
Trade
...do
7,258
7,731
7,117
7.692 ' 7,762 r 7,775
7,039
r
Revised.
v Preliminary.
1
Not comparable with data beginning July 1945, see note 1 on p. S-9 of the April 1946 Survey.
*New series. For data beginning June 1943 for the series on department store credit, see p. S-9 of August 1944 Survey; data beginning 1941 will be published later. Data beginning February 1941 for the collection ratios for furniture, jewelry, and household appliance stores are on p. S-8 of the April 1942 Survey; data back to January 1940 are available on
request. Annual estimates of wholesale sales beginning 1939 are available on p. 22 of the February 1945 Survey and p. 32 of the February 1946 issue and monthly figures beginning
June 1943 are on p. S-9 of the August 1944 and later issues; for estimates of wholesalers' inventories for 1938-42, see p. 7 of the June 1942 Survey and p. S-2 of the May 1943 issue. Estimates of civilian labor force for 1940-1943 are shown on p. 23 of the February 1945 issue (see note 1 on p. S-9 of the April 1946 Survey with reference to revisions in progress). Data
for armed forces through June 1945 are from the U. S. Department of Labor and are as of the first of the month; data beginning July are from the Bureau of the Census, based on first
of the month figures projected to the end of the Census week for the Civilian labor force data; officers on terminal leave are excluded beginning September; all data are based on reports from the War and Navy Departments.
! Revised series. See note marked " ! " on p. S-8 regarding revisions in the indexes of department store sales. The index of department store stocks has been completely revised;
the index is computed by combining revised indexes for the 12 districts; the sample of reporting stores has been enlarged in each district and now includes for the entire United States
around 900 stores which account for about 64 percent of estimated total department store stocks. The estimates of employers in nonagricultural establishments have been revised back
to 1929; data for 1929-43 for the unadjusted series are available on p. 24 of the July 1945 Survey; revisions beginning 1939 for the adjusted series will be published later, the estimates
for manufacturing have been adjusted to data through 1942 from the Federal Security Agency and are not comparable since 1942 with the series on production workers in manufacturing industries on p. S-10 which have been further adjusted to data through 1944.
SURVEY OF CURRENT BUSINESS
S-10
Unless otherwise stated, statistics through 1941
and descriptive notes may be found in the
1942 Supplement to the Survey
1945
1946
May
July 1946
May
June
July
August
1946
September
October
Novem- December
ber
January
February
March
April
EMPLOYMENT CONDITIONS AND WAGES—Continued
EMPLOYMENT—Continued
Estimated production workers in manufacturing industries, total (U. S. Dept. of Labor)*
thousands..
Durable goods industries
do._
Iron and steel and their products
do__
Blast furnaces, steel works, and rolling mills
thousands
Electrical machinery
do_.
Machinery, except electrical-.
do...
Machinery and machine-shop products
do...
Machine tools§
do__.
Automobiles
do__.
Transportation equipment, exc automobiles.do
Aircraft and parts (excluding engines) §
do
Aircraft engines. §
.
do
Shipbuilding and boatbuildings
do
Nonferrous metals and products
do.
Lumber and timber basic products
do.
Sawmills (incl. logging camps)
do.
Furniture and finished lumber products
do
Furniture
-do
Stone, clay, and glass products
do
Nondurable goods industries
do.-..
Textile-mill products and other fiber manufactures
thousands..
Cotton manufactures, except small wares do
Silk and rayon goods
do
Woolen and worsted manufactures (except dyeing
and
finishing)
thousands..
Apparel and other finished textile products.__do
Men's clothing.
do
Women's clothing
..do
Leather and leather products
do
Boots and shoes
do
Food and kindred products
do
Baking
do
Canning and preserving
do
j
Slaughtering and meat packing..
do
Tobacco manufactures
do
Paper and allied products
do.___
Paper and pulp
do
Printing, publishing, and allied industries
do
Newspapers and periodicals
do
Printing, book and job
do
Chemicals and allied products
do
Chemicals-do
Products of petroleum and coal.
do
Petroleum refining
do
Rubber products
do
Rubber tires and inner tubes
do
Production workers, unadjusted index, all manufacturing (IT. S. Dept. of Labor)!-...,-1939=100.
Durable goods industries
do
Iron and steel and their products
-_do
Blast furnaces, steel works, and rolling mills
1939=100..
Electrical machinery
do
Machinery, except electrical
do
Machinery and machine-shop products
do
Machine tools§
do
Automobiles
do
Transportation equipment, exc. automobiles.do
Aircraft and parts (excluding engines)§
do
Aircraft engines!
„
do
Shipbuilding and boatbuilding!
do
Nonferrous metals and products
do
Lumber and timber basic products
do
Sawmills
do
Furniture and finished lumber products
do
Furniture
do
Stone, clay, and glass products.
do
Nondurable goods industries
do
Textile-mill products and other fiber manufactures
1939 = 100..
Cotton manufactures, except small wares.__do
Silk and rayon goods
do
Woolen and worsted manufactures (except dyeing
and
finishing)
•_
1939=10bl_
Apparel and other finished textile products-.-do
Men's clothing
do
Women's clothing
„
do
Leather and leather products
do
Boots and shoes
do
Food and kindred products...
do
Baking.-do
j
Canning and preserving
do
j
Slaughtering and meat packing-.
do
i
13, 090
7,639
1,683
12, 855
7,382
1,630
12, 459
7,054
1,555
12,179
6,779
1,490
10, 529
5,234
1,240
10, 450
5,151
1,241
10, 503
5,180
1,255
10, 519
5,097
1,294
10, 666
5,205
1,308
9,989
4,417
843
' 10, 643
«• 5, 003
1,268
474
704
1,162
432
73
665
1,830
575
193
784
420
519
217
340
148
316
5,451
470
691
1,143
424
72
642
1,681
509
173
739
409
523
217
341
148
322
5,473
462
659
1,105
410
69
601
1,577
473
166
691
384
522
215
334
144
317
5,405
457
640
1,076
399
67
556
1,468
430
154
647
378
524
215
330
141
317
5,400
422
445
913
333
60
426
788
157
33
445
301
508
208
303
128
310
5,295
426
467
909
330
58
460
667
127
29
368
305
476
192
307
131
319
5,299
432
479
911
325
52
525
573
121
27
286
319
484
193
321
136
313
5, 323
446
484
914
325
53
388
536
121
22
265
326
499
197
336
143
320
5,422
449
476
956
334
58
416
519
119
21
249
333
514
202
34S
150
335
5,461
170
348
833
295
58
401
469
' 118
21
228
291
521
202
355
152
356
5,586
467
367
880
314
57
'445
'464
•"120
22
220
317
534
207
361
154
307
5, 640
1, 065
411
86
1,071
414
1,051
409
85
1,049
407
85
1,051
407
85
1, 057
404
85
1,063
399
85
1,113
424
87
1,127
429
88
1,157
437
1,176
442
90
223
141
917
196
200
312
170
1,007
255
99
124
80
310
143
320
109
131
682
114
134
92
201
135
869
188
175
313
169
1,089
250
167
127
78
309
142
317
107
131
643
113
136
93
194
134
897
186
190
313
169
1, 102
249
180
124
79
311
143
322
110
133
600
112
135
93
• 191
136
911
181
202
305
165
1,183
251
237
127
83
312
142
324
113
133
496
112
131
88
165
72
140
928
180
205
313
170
1,116
253
168
127
86
321
146
336
115
139
486
109
131
89
187
2
140
915
196
194
317
172
1, 029
255
100
123
80
315
144
320
109
131
671
115
135
93
199
90
143
930
177
203
321
174
1, 085
254
125
133
83
326
148
347
120
143
487
111
139
95
194
91
148
938
177
204
330
178
1,078
253
107
148
82
335
153
355
122
146
488
113
140
95
203
96
149
956
181
207
338
182
1, 051
^54
93
153
81
341
157
359
122
149
489
115
142
96
209
99
151
993
187
214
348
187
1. 045
253
90
151
81
348
160
307
125
153 |
491
115
142
96
214
101
158
1,016
190
219
355
192
1, 034
255
85
147
82
353
162
372
127
154
494
115
145
97
220
104
137.0
154. 6
134.1
159.8
•211.5
" 169. 7
156. 9
204.4
164. 4
152.1
195.3
156.8
148.7
187.7
150.3
128.5
144.9
125.1
127.6
142. 6
125.2
128.2
143.5
126.6
128. 4
141.2
130.5
130.2
144.1
131.9
121.9
• 122.6
85.0
122. 0
121.0
118.8
254.1
271.6
266. 6
209. 2
219.9
216.3
202.7
213.7
209.6
187. 7
198.4
195.2
149. 3
165.3
159. 4
993.
9
1,
059.
1
1,153.0
1. 450. 4 1. 283. 6 1, 191.7
1,
869.
5
1,
949.
7
2, 167. 0
997. 9
1,131.6 1. 066. 8
167.
6
178.
4
183.4
124.2
124. 5
123. 4
74.7
75.4
75. 3
101.7
103. 9
103. 7
90.4
92.7
92.9
108. 1
107.7 i 109. 6
118.0
119. 5
119.0 !
117.6
246.8
203.7
197.1
181.8
13S. 3
925.2
1, 084. 4
1, 732. 9
931.7
165. 1
124.7
74.7
100. 5
88. 6
10S. 1
117.9
108.8
171.5
172.7
164. 6
163.1
105. 9
496. 5
394.5
372. 2
643. 3
131. 2
120. 8
72, 1
92.4
80. 6
105. 7
115.6
109.7
180.1
172. 1
163.2
158.1
114.4
420. 4
319.9
331.1
531.8
133. 0
113.3
66.5
93.7
82.0
108. 8
115.7
111.1
184. 9
172.4
160.7
142.4
130. 5
361. 3
305.6
300. 3
413. 0
139.3
115.0
67.1
97.7
85.3
100. 5
116.2
114.9
186.9
172.9
160.5
145.6
96.4
338.0
304.1
246. 2
382.3
142.2
118.6
68.5
102.6
90.1
109. 1
118. 4
115.5
183. 7
180 9
164.9
158.6
103. 5
326.9
208. 9
239.7
3o9.6
145. 3
122.3
70. 0
106. 0
94.0
114.3
119.2
43.7
120.3
134.2
141.8
'157.2
166. 5
145. 8
155.1
• 159.5 r 156. 4
r
' 103. 0
110. 7
' 294. 4 r 292. 6
' 296. 2 '301.9
239. 0
24S. 6
328.7
318.3
126. 8
138. 4 I
121.0
70.2
108,1
109.9
97.0
95. 4
124. 9
121.4
123. 1
• 121.4
11,227
5,583
1,329
972
362
380
5,644
1,184
1,012
354
1,017
86
358
481
147
188. 6
183.9
159. 9
311.2
148.4
136. 5
110. 3
129. 6
123. 2
103. 5
128. 2
102.0
119.0
f
r
r 129. 9
' 138. 5
127.9
93.1
103.9 ;
71.4 '
93. 6
104.5
72.1
G1.8
103. 3
70.5
91.7
102.9
70.9
91.9
102. 8
70.9
92.4
102.1
71.1
92.9
100. 7
70.5
97.3
107.0
72.7
98.6
108. 3
73. 0
101. 2
110.4
102. 8
111.7
94.2
116.2
89.5
73.7
90. 0
77.8
117.9
110.4
73.4
103. 3
94. 1
115.9
89 8
71. 3
91. 3
78. 7
120 4
110 4
78 8
106 0
90.5
110.0
86.0
64. 6
90.1
77.7
127.5
108.4
123.8
105.7
90.0
113.6
85.0
70.1
90.2
77.6
129.0
107.9
133. 5
103.2
91.3
115. 3
82.5
74.4
83. 0
75.5
13S. 4
108. 8
176. 3
105. 0
93.5
117.5
82.4
75. 5
90.3
77. 7
130.6
109. 6
124. 8
105.3
95.8
117.8
81.1
74.8
92.5
79.6
127.0
110.2
192. 7
110.0
98.8
113.9
81.1
75.1
95. 2
81.6
126.2
109.8
79.8
122. 6
99.9
121.0
82.6
76.3
97.4
83.5
123.0
110. 2
' 08. 8
126. 7
103. 1
125.8
8r> 3
78.7
100.4
85.8
122. 2
105.9
128. 6
8
80 4
102 4
87 9
121 0
110
63 2
wi 7
fin 6
125.5 I
122.0 I
Revised.
§ For 1941-43 data for shipbuilding see p. 19 of December 1944 Survey; 1939-44 data for aircraft and aircraft engines are on p. 20 of the August 1045 issue. For data for December
1941-July 1942 for machine tools, see note marked " t " on p. S-10 of the November 1943 Survey.
* New series. Data beginning 1939 for the estimates of production workers for individual manufacturing industries will be shown later; data published in the Survey beginning
with the December 1942 issue, except as indicated in note marked " § " , are comparable with figures published currently. Data for 1929-43 for all manufacturing, total durable goods
and total nondurable goods industries, and the industry groups are shown on p. 22 of the December 1915 Survey, and revised data for January 1944—February 1945 are on p. 24 of
this issue revised to adjust the series to Federal Security Agency data for 1944; revisions through February 1945 will be published later.
t Revised series. The indexes of production-worker employment and of production-worker pay rolls (pp. S-12 and S-13) have been completely revised; for 1939-41 data for the
individual industries ("except as indicated in note marked "§") and 1939-40 data for the unadjusted series for all manufacturing, total durable goods and total nondurable goods industries, and the industry groups, see pp. 23-24 of the December 1942 Survey; for 1941 data for the totals and the industry groups see p. 28 of the March 1943 issue and for 1942-43, p.
20 of the October 1945 issue, and for January 1944-Febraary 1945, p. 24 of this issue; all revisions through February 1945 for the adjusted totals (p. S-ll) will be shown later.
p
SURVEY OF CURRENT BUSINESS
July 1946
L iile»« otherwise stated, statistics through 1941
and descriptive notes may be found in the
1942 Supplement to the Survey
1946
1945
1946
May
S-ll
May
June
July
August September
October
Novem- December
ber
January
February
March
April
EMPLOYMENT CONDITIONS AND WAGES—Continued
I MPI.OYM £NT—Continued
Production workers, index, unadjustedf—Continued.
Nondurable goods industries—Continued.
Tobacco manufactures
1939=100
Paper and allied products __ _
do
Paper and pulp
do
Printing, publishing, and allied industries d o . .
Newspapers and periodicals!
do
Printing, book and 'ob§
do
Chemicals and allied products
___ do
Chemicals
do
Products of petroleum and coal
. do
Petroleum refining
do
Rubber products
_
_ . do
"Rubber tires and inner tubes
do
Production workers, adjusted index, all manufacturing
(Federal Reserve)!-- - 1939=100
Durable goods industries!
do
Nondurable goods industries!
do _
Nonmanufacturing, unadjusted (TJ. S. Dept. of Labor):
Mining:!
Antnr*icitp
1939*= 100
Bituminous coa'
do
Metalliferous
..
.
do.. .
Quarrying and nonmetailic
do
Crude petroleum and nntural gas!
do
Public utilities:!
Electric light and power
„
. . . _ do
Street railways and busses
do
Telegraph
do
Telephone
do
Services:!
Dyeing and cleaning
do
Power laundries do
Year-round hotels
. __
..do..
Trade:
Retail, total!...
...._
„ . . . do.
Food*
do
General merchandising!
. _ do
Wholesale!
.
do._
Water transportation*
_
do
Miscellaneous employment data;
Federal and State highways, totalt
«. number..
Construction (Federal and State) _.- » _ do
Maintenance (State)
do
Federal civilian employees:^
United States
thousands
District of Columbia
_.
do
Railway employees (class I steam railways):
Total
thousands
Indexes: Unadjusted! ._
1935-39«=100
Adjusted!
do
85.6
116. 9
103.8
97.5
92.1
103.9
236.8
164.1
126.8
126,5
166.6
169.2
86.1
118.5
104.9
97.5
92.2
103.8
232.8
164.8
127.4
127.3
164.5
166.7
83.4
116.4
103.4
96.8
90.5
103.8
223.2
162.4
128.0
127.6
160. 5
162.1
84.3
117.0
104.1
98.3
92.6
105.4
208.3
161.2
128.0
127.5
158.0
159.3
• 89.5
117.5
103.3
98.8
94.8
105.4
172.1
160. 5
123.3
120.4
136.5
132.7
92.2
120.9
105.8
102.5
97.2
110.0
168.5
157.0
123.6
121.5
154.4
163.0
89.2
122.9
107.8
105.9
101.0
112.9
169.1
159.0
131.3
130.6
160.1
168.9
87.8
126.3
111.4
108.1
102.7
115.5
169.2
162.2
132.3
130.6
168.2
177.8
87.0
128.6
113.9
109.4
103.1
117.6
169.7
164.7
134.0
131.9
172.7
182.4
87.3
131.0
116.3
112.1
105.3
120.9
170.3
' 165.1
' 130. 8
132. 3
177.1
187.3
87.9
132.9
117.9
113.5
107.0
122.1
171.4
165. 9
* 136. 7
133.1
181. 5
191.6
'90.8
' 134. 5
119.4
' 114.2
108.1
122.2
' 170.9
169.6
' 138. 2
133.7
' 182. 0
192.8
v 138.1
154.6
125.1
1C0. 8
211.5
120.8
157.2
204.3
120.1
151.7
195.2
117.4
147.6
187.5
116.1
127.8
144.8
114.5
127.2
142.6
115.1
127.8
143.3
115.6
128.1
141.2
117.8
130.7
144.4
119.8
' 122. 4
' 122.9
' 122. 0
' 130. 3
'138.7
' 123. 7
v 136. 9
P 152. 3
' 124. 7
81.9
60.7
f
9. 7
88.2
77.3
78.3
82.8
78.9
89.2
76.0
80.5
83.6
77.6
87.1
74.6
81.3
83.8
77.4
87.1
73.1
81.7
84.2
77.6
87.6
72.2
82.5
84.0
78.1
70.8
72.2
83.9
84.9
78.2
88.2
73.2
85.0
86.7
79.0
89.8
75.2
83.8
88.4
79.3
91.2
76.3
83.3
90.0
81.1
92.0
72.0
84.3
91.0
81.7
92.2
63.1
88.8
90.8
82.8
117.3
117.9
129.5
83.6
116.8
119.3
131.9
84.1
117.3
119.4
133.1
84.5
118.0
121.2
133.5
85.7
119.2
123.2
135.6
88.1
121.7
124.8
139.4
90.7
122.7
126.4
143.0
92.9
123.7
112.4
146.3
94.7
125. 7
124. 7
153.7
96.4
126.1
r
165 6
[
82.0
117.8
117.4
127.8
158.6
' 163. 5
128 6
110.2
119.5
119.8
104.9
108.5
122.0
107. 2
109. 5
121.2
108.3
109.4
117.3
106.1
109.9
122.3
106.6
112. 2
124.7
107.4
115.0
120.6
106.7
116.5
119.9
107.8
117.6
120.3
109.3
117.3
121. 5
109.0
118.7
124.3
109.6
119.3
' 130. 3
'110.0
' 118. 9
107.2
96.7
103.0
112. 7
94.5
303.5
116.0
108.0
152.5
104.1
315.7
144,182 144,082 153, 223 151,474 151,490 145,068 139,964
28, 419 30,812
30, 684 24,894 16,674
24, 366 24,157
95,006 94, 730 99, 512 95, 722 94,992
93, 548 95,317
2,411
2,900 1 2,851 i 2, 613 1 2, 513 i 2,456
2,915
104.1
106.6
116.8
104.7
314.8
104. 3
106. 8
114.6
105. 5
316. 9
106.1
' 106. 9
118.6
106.6
297.8
' 109. 0
100. 3
125.3
' 106. 7
' 275. 3
139,381 112, 074 150,013
14, 908 16, 277 21, 000
95, 458 95, 696 97,814
165, 762
31,871
100, 683
91.9
135.0
114.8
167.0
138.7
184.4
98.8
128.2
105.1
256.1
131,861
19,667
88,128
96.2
101.0
111.2
94.4
303.0
94.9
100.0
107.9
94.9
310.0
93.8
99.9
104.7
95.8
313.4
97.6
102.0
110.4
97.0
320.5
101.2
104.6
115. 9
99. 4
311.0
106.2
106.5
127.4
101.8
315.1
81.4
r
20.1
r
58.8
94.5
91.8
'97.7
127.0
* J 2, 360
v 236
2,898
i 2, 406
i 2, 402
i 2, 379
253
258
256
251
240
233
230
229
233
236
237
i 2, 394
'238
p 1, 335
1,455
139.8
140.4
1,482
142.5
140.6
1,480
142.2
139.2
1,476
141.9
139.0
1,439
138.3
135.0
1,424
136. 9
132.4
1,435
137.9
136.6
1,428
136.9
139.1
1,422
136.5
142.0
1,393
' 133.9
'137.3
' 1,397
v 133. 9
v 137. 3
p 1, 377
p 132. 0
v 134.2
P 128.1
P 128. 6
LABOR CONDITIONS
Average weekly hours per worker in manufacturing:
41.7
40.6
40.4
42.3
39.2
40.7
41.9
43.4
42.3
44.3
45.2
Natl. Indus. Conf. 13d. (25 industries)
hours
45 0
41.5
40.5
40.8
40.6
41.4
41.2
40.7
410
41.6
41.0
U. S, Pe.pt. of Labor, all manufacturing!..
do
v 39. 8
44.6
44.1
41.4
40.6
41.1
40.0
40.5
41.0
41.1
44.9
41.6
» 39. 5
45.8
Durable goods industries*
_
_ do .
40.8
45.5
Iron and steel and their products*
do
46.0
45.2
41.7
40.4
42.1
42.5
42.1
41.1
39.1
'40.0
39.9
46.0
Blast furnaces, steel works, and rolling
37.9
41.0
38.5
30.4
41.2
37.6
40.8
40.4
42.2
45.1
mills* „ . . _
hours
45.6
46.6
45.3
41.2
40.8
41.1
41.5
41.3
41.3
40.3
40.4
40.2
Flectrical machinery*
_„..» . __ do
45.7
45.6
Machinery, except electrical*
do
46.6
47.7
46.7
42.7
43.0
43.0
42.9
42.0
42.6
41.4
41.6
41.4
47.8
46.6
42.7
42.6
43.1
42.8
42.5
42.9
42.3
41.7
42.2
Machinery and machine-shop products*_.do .
46.6
Maohine tools* ,
do
47.7
48.9
47.7
45.6
44.7
44.1
44.4
44.4
43.9
'43.3
' 43. 6
42. 6
Automobiles*
do
43 8
42.3
33.5
36.5
38.4
36.0
37.5
37.8
r34.5
'37.3
38.0
43 9
39. 9
39.7
38. 8
40.0
37.4
'39.9
45.8
39.1
'39.0
41.7
46.2
45.9
Transportation equipment, except autos*_ - do
40.8
41.0
41.
5
41.1
38.1
39.7
45.9
40.7
40.1
Aircraft and parts (excluding engines)' do
46.9
46. 5
' 40. 8
44.2
43. 6
37.2
36.7
39.0
40.3
40,9
37.6
42.1
41.9
41.8
Aircraft engines*...
... . _
do
45.1
43=6
Shipbuilding and boatbuilding*
do
45.8
46.3
40.6
38.7
38.2
38. 3
38.8
35.0
37.3
38.8
38.5
Nonferrous metals and nroducts*
do
46 0
46.2
45.7
43.3
42. 5
43.2
43.3
43.3
43.2
43.2
42.4
42.0
41.4
40.5
40.8
42.2
39.0
38.8
40.5
40.1
41.1
41.3
44.0
Lumber and timber basic products*
do
42,9
41.8
' 42. 6
42.3
42.5
42.3
42.7
42.0
40.6
Furniture and finished lumber products*...do
44.1
43.3
'42.3
43.6
'
41.
0
41.6
41.9
42,5
40.7
42.0
41.6
43.6
Stone, clay, and glass products*
„.
do
41.8
43.8
43.4
' 41.1
Nondurable eroods industries* _
do
P 40. 0
42.3
43.1
42.8
40.3
41.8
41.5
41.5
41.2
40.9
41.3
40.9
40.6
Textile-mill products and other fiber manu40.3
factures*
..._ . h o u r s
40.6
40.4
40.5
40.7
38.4
40.3
41.8
41.3
40.4
40.7
40.4
Apparel and other finished textile products*
30,
5
37.5
37.2
36.4
36.7
36.2
36.7
36.1
33.2
36.7
36.4
37.2
boU^s
Leather and leather products*... „_..__ _ do
42.1
39.3
40.6
40.9
40.6
39.9
39.6
40.4
40.8
40.5
40.4
41.7
Food and kindred products*._. . . _ _ do
44.5
45. 6
45.8
43.3
44.7
44.1
45.3
44.9
44.4
44. 3
42.9
42.7
42.8
41.0
39.0
42.3
42.0
39.1
39.3
40.4
38. 5
39.7
39 2
Tobacco manufactures*
do
41.6
Paper and allied products* . . .
do
44.0
45.9
45.8
45.6
44.3
45.7
43.9
43.9
43.5
46.3
46 4
45 4
Printing and publishing and allied industries*
41.0
42.2
41.6
41.7
41.5
'41.2
40.8
hours
40.7
41.1
41.5
41. 2
41.6
41.4
Chemicals and allied products*..
.-..do
43.4
42.5
43. 3
42.5
43.4
'41.7
45.1
45.4
' 41. 6
42.0
45.7
Products of petroleum and eoal* „
do
46.9
44.9
42.6
44. 0
42.9
41.7
40.8
' 41. 6
40.2
47 7
47 5 !
47 8
41.4
'40.8
40.3
43.0
40.2
40.9
41.7
41.8
Rubber products*
. . . . . . . do
'40.8
44.2 ! 45.2 1 45.5
' Revised. *» Preliminary. 1 See note marked " 1 " .
f Data beginning August 1942 are available in the November 1943 Survey; earlier data will be published later.
t'Total
includes State engineering, supervisory and administrative employees not shown separately.
€
, United States totals beginning August 1945'indude approximately 53,000 clerks at third-class post offices and substitute rural carriers not reported previously; see also note In
July 1944 Survey regarding changes in the data beginning in 1948. December figures do not include excess temporary post office substitutes employed only at Christmas.
•New <nries. Indexes beginning 1939 for employment in retail food establishments and beginning 1940 for water transportation are shown on p. 31 of the June 1943 Survey. Data
beginning 1929 for all series on average hours will be published later; data beginning March 1944 for the aircraft engines industry and beginning March 1942 for other series are available
In previous issues of the Survey.
! Revised series. See note marked "f" on p. S-10 regarding revisions in the. Indexes of employment in manufacturing industries and sources of revised data. Data for 1937-43 for
the index of employment and pay rolls in the telephone industi y are on p. 20 of the May 1945 Survey and data beginning 1937 for the telegraph industry will be published later; data for
1939-41 for the other Department of Labor series on nonmanufacturing employment and pay rolls are on p. 31 of the June 1943 Survey. The index of railway employees has been
shown on a revised basis beginning in the May 1943 Survey; earlier revisions will be published later. Data beginning January 1944 for the series on average weekly hours in all manufacturing industries are available in the March 1943 and subsequent issues of the Survey; revised data prior to 1942 have not been published in the Survey and will be shown in a
later issue.
S-12
SURVEY OF CURRENT BUSINESS
Unless otherwise stated, statistics through 1941
and descriptive notes may be found in the
1942 Supplement to t h e Survey
1946
1945
May
September
May
June
July
August
July 1946
1946
October
Novem- December
ber
January
J?™*! March
April
EMPLOYMENT CONDITIONS AND WAGES—Continued
!
LABOR CONDiTIGNS-Contirmed
Average weekly hours per worker in nonmanufact
ing industries (U. S. Department of Labor) :•
Building construction
_
hours.
Mining:
Anthracite
do.
Bituminous coal
,
do.
Metalliferous
_.
do.
Quarrying and nonmetallic
-do
Crude petroleum and natural gas
do...
Public utilities:
Electric light and power
.
do—.
Street railways and busses
do...
Telegraph
do...
Telephone*!
_
do.-Services:
Dyeing and cleaning.._
do...
Power laundries
.
do___
Trade:
Retail._
do_ —
Wholesale
.
do~.
Industrtal disputes (strikes and lockouts): •
Strikes beginning in month:
3G0
Strikes
number560
Workers involved
thousands—
11, 500
Man-days idle during month
do
U . S . Employment Service placement activities:
457
Nonagrieultural placementst
thousands..
Unemployment compensation (Social Security Board):
1,120
Initial claims*
__,thousands..
Continued claimsO
do
6,497
Benefit payments:
i 1,315
Beneficiaries, weekly average
do
Amount of payments
thous. of do!.... 103,888
Veterans' unemployment allowances:*
741
Initial claims
thousands..
7,690
Continued claims
___
_
do..
Number receiving allowances, weekly average
do..
Amount of payments.-thous. of dol... 155,175
Labor turn-over in manufacturing establishments:^
Accession rate
monthly rate per 100 employees
Separation rate, total
do—
Discharges.-.
do...
Lay-offs
...do ...
Quits
do....
Military and miscellaneous
do ..
r
39.3
40.4
40.1
40.3
38.1
38.7
37.2
37.1
37.7
37.3
37.5
36.4
42.4
45.0
47.2
46.1
41.1
46.2
45.4
48.2
46.3
39.4
40.8
43.9
48.0
45.0
37.1
40.1
42.0
46.6
46.8
37.0
42.3
43.0
46.5
45.4
41.2
32.2
44.3
47.2
44.4
35.8
44.9
43.0
46.1
43.9
39.6
45.7
42.0
44.2
41.0
36.4
43.3
41.1
43.3
41.1
41.2
45. 5
' 35. 8
44.1
'40.7
41.0
45.9
'40.2
45.1
40.8
44. 5
51.7
45.7
41.1
44.4
52.2
46.2
41.4
43.4
51.6
46.0
41.8
44.3
52.3
48.2
44.1
43.0
51.3
45.9
41.5
43.3
50.9
45.4
41.9
42.7
50.3
45.0
42.1
42.0
50.7
44.5
41.1
42.7
49.2
44.0
40.1
42.4
49.2
44.1
40.7
41.6
49.4
43.7
40.2
43.0
43.4
43.8
43.4
44.2
44.0
41.5
42.4
43.1
43.4
43.5
43.2
42.4
42.7
43.0
43.3
43.1
43.6
42.5
43.3
43.4
43.5
39.4
42.9
40.7
42.8
41.9
43.1
41.2
42.4
40.7
42.4
40.3
42.6
40.0
42.3
40.1
42.0
40.5
41.8
40.5
41.9
40.5
41.9
'433
' 333
2.219
••482
••332
' 1,886
' 523
••325
'1,769
'447
'271
' 1,712
••573
'526
' 4,341
'474
'551
'8,611
'358
"120
' 6, 935
••134
' 50
' 7,718
325
1,400
19,200
260
130
21, 500
385
130
14,000
1,042
1,014
825
601
484
380
412
359
421
220
618
269
810
268
1,081
1.230
1,532
1, 086
4,724
918
6,671
779
6, 502
745
6,564
1, 234
8,258
946
7,327
774
' 7, 464
98
7,044
129
185
14, 352
231
17, 948
612
50, 439
1,272
106, 449
1,313
108, 555
1,319
106,624
' 1,624
133, 246
24
144
28
2,501
32
160
32
3, 572
42
203
38
3,777
74
261
44
5,013
112
400
73
7, 457
260
774
123
14,088
426
1,415
218
25, 770
567
2,401
405
42, 217
1,030
4,594
695
83, 322
908
5,853
1.071
112, 195
801
7,353
1,507
148, 958
5.0
7.0
.6
1.2
4.8
.4
5.9
7.9
.7
1.7
5.1
.4
5.8
7.7
.6
1.5
5.2
.4
5.9
17.9
.7
10.7
6.2
7.4
12.0
.6
4.5
6.7
.2
8.6
8.6
.5
2.3
5.6
.2
8.7
7.1
.5
1.7
4.7
.2
6.9
5.9
.4
1.3
4.0
.2
8.5
6.8
.5
1.8
4.3
.2
6.8
6.3
.5
1.7
3.9
.2
'7.1
6.6
.4
1.8
4.2
.2
318.7
427.6
318.6
314.6
414.2
308.3
298.7
387.1
289.7
267.3
335.4
255.8
224.2
246.2
206.9
222.9
243.7
207.3
222.9
241.8
210.4
226.2
240.0
220.5
229.2
243.0
216.1
' 210. 5
' 199. 6
127.2
' 233.1
' 237.1
211.1
227.1
500.5
404.7
386.4
347.6
292.2
222.8
490.0
407.0
386.4
353.4
281.6
217.3
460.6
384.4
365.9
328.8
253.1
199.2
399.2
338.4
323.6
303.9
183.5
175.3
268.5
285.7
266.4
260.5
151.2
169.4
289.1
284.1
268.4
254.9
171.8
173.6
301.9
283.3
263.4
233.0
192.2
181.2
308.5
288.7
265.4
244.5
135.5
173.2
302.6
297.5
272.8
262.3
153.5
47.6
211.1
' 255. 3
239.4
256. 8
' 142. 4
181.5
225.1
277.9
258.0
' 256.8
' 166. 2
i 1, 632
' 1, 592
121,000 '127, 013
PAY ROLLS
Production-workers pay rolls, unajdusted index, all
manufacturing (U. S. Dept. of Labor)t—1939=100—
Durable goods industries
_
do..
Iron and steel and their products
do..
Blast furnaces, steel works, and rolling
mills
1939 = 100..
Electrical machinery
do.._.
Machinery, except electrical
do
Machinery and machine-shop products
do
Machine toolsj
--do
Automobiles
do
T r a n s p o r t a t i o n e q u i p m e n t , except automo'491.5
559.1
577.2
583, 5
' 512. 5
biles
1939=100..
2,396.0 2,223.5 2,068.0 1,742.2
844.1
713.5
506.6
520.4
514.3
' 520.7
' 537. 3
Aircraft and parts (excluding engines)}:.
do
2,837.0 2,546.2 2,310.4 1,854.8
624.5
537.4
346.3
369.1
389.7
356.6
379.7
Aircraft engines*
do—
3,703.0 3,231.9 3,042.5 2,375.9
469.7
444.3
641.2
602. 5
530. 4
553. 5
637.9
Shipbuilding and boatbuilding*.
do....
2,433.6 2,327.7 2,193.4 1,919.9 1.115.9
893.4
243.5
250.4
256.1
228.7
250.8
Nonferrous metals and products._
.do
347.3
337.9
313.1
292.2
223.3
230.4
199.4
' 219. 9
194.8
207.7
' 234. 5
Lumber and timber basic products
.do
230.5
239.7
222.1
219.3
215.3
199.0
114.0
114.1
118.2
123.0
131.9
Sawmills (incl. logging camps)
.do
142.4
147.6
133.9
133.8
130.3
117.4
188.1
200.4
173.2
192.9
209.0
Furniture and finished lumber products
do
194.2
195.9
188.2
171.5
164.0
168.8
164.3
176.7
151.1
169.3
184.3
Furniture
.do
173.0
173.3
165.7
150.4
140.8
147.1
175.9
181.7
185.4
' 204 6
'217.2
Stone, clay, and glass products
_.do
185.5
189.8
185.6
179.8
175.7
183.2
212.7
' 221.3
204.5
215.7
' 229. 2
Nondurable goods industries
do
212.2
217.3
212.1
200.6
202.6
202.6
203.7
188.0
174.8
190.7
212.6
Textile-mill products and other fiber mfrs
do
168.3
177.3
172.6
162.1
169.7
171.3
216.2
230.0
199.9
217.0
242.3
Cotton manufactures, exc. small wares
do
200.2
210.3
209.8
192.9
201.0
198.6
158.3
148.8
149.4
142.0
163.6
Silk and rayon goods
__do
133.7
142.1
138.4
133.9
138.2
143.0
Woolen and worsted manufactures (except dyeing
226.9
200.0
206.6
184.0
234.2
and
finishing)
.1939=100—
178.9
186.7
177.2
167.2
175.4
178.3
240.2
215.0
228.0
208.0
263.6
Apparel and other finished textile products
do
204.5
207.6
191.2
180.6
208.4
213.5
140.7
158.1
136.9
148.0
170.0
Men's clothing
do....
156.6
164.2
151.5
135.0
141.4
141.0
136.4
140,9
149.4
153.3
172.6
Women's clothing..
do
131.1
125.1
109.2
108.4
138.4
141.9
179.2
185.2
194.5
165.3
202.1
Leather and leather products..do
163.6
173.1
167.8
159.9
160.2
165.0
145.7
157.1
174.1
164.0
182.7
Boots and shoes...
do
143.2
154.1
149.0
141.2
140.3
144.2
220.4
211.5
215.0
214.9
206.6
Food and kindred products
do
193.7
202.6
212.7
205.6
226.6
215.9
181.4
181.2
181.2
180.1
182.8
Baking
do
171.4
174.1
174.6
170.9
173.6
176.8
179.4
167.3
144.1
136.6
132.1
Canning and preserving
do
144.4
156.9
250.2
249.4
351.6
251.7
199. 4
214.9
217.9
185.2
191.1
Slaughtering and meat packing._
do
162.5
177.9
175.0
158.2
177.6
173.1
172.2
164.1
165.2
166.7
171.3
Tobacco manufactures
do
157.2
164.5
151.9
149.3
176.0
181.7
219.0
221.7
226.2
211.0
233. 3
Paper and allied products
do
194.5
202.0
198.0
189.2
200.7
206.9
196.6
203.6
198.4
190.0
208.1
Paper and pulp
do
177.5
183.8
180.7
171.7
180.5
186.7
158.5
163.2
165.7
'171.2
Printing, publishing, and allied industries
do
_.
138.9
139.6
137.8
140.0
147.7
150.7
' 177. 2
138.3
141.9
143.5
148.9
Newspapers and periodicals*
do
122.4
121.7
119.7
128.6
130.3
132.9
154.4
184.7
193.9
178.1
188.8
Printing, book and job*
do..
154.4
155.6
155.1
151.9
166.5
168.6
200.2
r
Revised. * Partly estimated.
tSee note marked " § " on p. S-10. ©Small revisions in the data for January 1940 to May 1944 are available on request.
•1946 data are preliminary estimates.
^Data beginning April 1945 are not comparable with earlier data. See note for hours and earnings in telephone industry at bottom of p. S-13 of April 1946 Survey.
cfRates refer to all employes rather than to wage earners and are therefore not strictly comparable with data prior to 1943 published in the Survey.
•New series. Data on average hours for the telephone industry for 1937-43 are shown on p. 20 of the May 1945 Survey (see also note "J" above) and data for the telegraph industry
beginning June 1943 (the earliest available) are given in note on p. S-ll of the January 1945 issue; data beginning March 1942 for all other series on average hours are available in the
May 1943 Survey and data back to 1939 will be published later. The new series on veterans' unemployment allowances relate to readjustment allowances payable under the Servicemen's Readjustment Act of 1944: data beginning September 1944 will be shown later. Indexes of pay rolls for the printing and publishing subgroups beginning August 1942 are on
p. S-12 of the November 1943 Survey; data back to 1939 will be published later. Data beginning 1939 for the series on initial unemployment compensation claims will be shown later
(see note in April 1946 Survey for definition of initial claims).
tRevised series. Data beginning June 1942 for nonagricultural placements are available in the August 1943 Survey; earlier data will be published later. For information regarding
the revised indexes of production-worker pay rolls in manufacturing industries, see note marked "f" on p. S-10.
SURVEY OF CURRENT BUSINESS
July 1946
islees otherwise stated* statistics through 1941 i
_
and descriptive notes m a y be found i n the i
1942 S u p p l e m e n t t o t h e Survey
i May
S-13
1945
May
June
July
) August
1946
September
October
Novem- December
ber
January
FebruMarch
ary
April
EMPLOYMENT CONDITIONS AND WAGES—Continued
PAY ROILS—Continued
Production-worker pay rolls, mfg., uredj.t— Con.
Kendurable goods industries—Continued.
Chemicals and allied products
1939=100.Chemicals
do
Products of petroleum and coal
do
Petroleum refining
do
Rubber products . . .
do
Rubber tires and inner tubes
do
Nonmaimfjicturir.p M ••ktijusitri {V..»? Pept ot labor;;
Mining:!
Anthracite
.1939=-100_.
Bitumincu? coal
do
M et alliferous
„
do
Quarrying and nonmetnllic
do
Crude petroleum and natural gast---do
Public utilities:!
Electric llpht and power
do
Street railways end busses
~
do
Telegraph....
.do...
Telephone
___._
do...
Services:!
Dyeing end cleaning.
do...
Power laundries
I...
do...
Year-round hotels
..do...
Trade:
Retail, total!
...do...
Food*
do...
General merchandising t
—
do...
Wholesale!
. do...
Water transportation*
..._
do...
WAGES
425.7
295. 2
227.8
222.6
299.8
288.6
417.6
268. 5
230.6
224.4
204.3
293. S
397.8
291.8
234.6
227.7
2S8.7
286.8
357.2
288.2
229.8
224. 3
205. 7
249.7
292.2
273.6
212.1
203.5
231.3
211.4
284.9
261.3
198.0
189.7
254. 2
239.8
281.8
260.8
222.9
215. 5
257.8
240.2
283.4
267.0
222.2
212.6
275.5
256.7
285.2
276.8
220.9
210.6
290.1
272.6
«• 284.7
--272.5
' 221. 3
217.4
292.1
271.9
' 2S0.0
r 276. 3
231.0
217.9
302.8
281.1
291.2
282.7
233. 5
221.3
324. 9
312.9
14.3
204. 5
128.6
150.8
132,4
145.4
227.6
128. 5
158.8
136.1
142.7
190.7
121.1
161.9
135.7
148.0
188.0
114.2
155.9
139.2
149.8
199. 7
116.4
159.2
138. 4
170.8
120.5
118.4
164.3
133.6
144.15
212.8
117.2
103. 2
140.0
167.1
222.0
117.6
155.0
135.9
149.3
209.9
118.0
150.9
139.0
178.3
222.8
' 96.1
157.2
142.0
178.5
227.2
'95.8
172.6
144.4
165.1
26.0
90. 5
191. 6
144.0
117.5
176.2
174.0
166.1
119.2
178.2
175.3
172. t;
119.6
177.1
175.0
177.7
120.7
178.7
200.4
195.7
120.6
177.1
177.2
181.7
120. 9
178.1
177. 6
189.0
126.7
179.1
177.9
200.3
129.8
•184.0
178.8
203.5
133.7
181.4
155.3
205.2
138.3
187.2
176.9
230.7
140.4
187.2
142.5
191.4
237.0
246.1
191.4
161.9
167.9
199.8
166. 3
171. 5
197.7
169. 7
171.2
179.9
1C0. 5
172.0
109. 2
1C8.1
177. 2
207. 6
169.1
184. 6
193. 5
168. 9
190.6
196.9
174.3
196.1
201. 7
178. 7
196.4
199.1
177.0
199.8
213.4
181.3
201.1
231.0
183.3
201.1
131.0
139.0
144.0
M0. 8
746.2
134. 2
142.8
148.3
141.9
744. 5
136.4
145.5
148.0
144.7
755.5
132.0
144.7
141.2
141.3
664.0
138. 7
145. 7
150.0
145.6
669.6
144.2
149. 7
157. 7
150. 7
566.8
151.9
154.9
172.4
155.2
582.1
167.6
159.5
209.2
159. 2
583.1
154.9
159.7
165.8
161.2
575.3
r 157. 1
«• 161. 7
165. 5
165. 0
577.3
160. 9
163. 9
173.3
167. 5
550.6
1G7.8
165. 7
186. 2
169.8
509. 0
Manufacturing industries, average weekly earnings:
49. 00
45.50
44. 62
46.90
47.73
45.74
46.44
45.72
43. 56
49. 62
45.42
50. 33
Natl. Ind. Con. Ed. (25 industries)
dollars.
40.97
42.92
45.45
41.15
r 40. 58
r 42. 16
41. 72
40.87
46.02
46. 32
41.21
40.77
V. S. Dept, of Labor, all manufacturingt-- —-do... p 42.67
44.23
51.74
50. 66
45. 72
43.95
43.67
' 42. 57
' 44.78
45.80
51.56
43.71
44.08
Durable goods industries.-.._.,.
d o , . . v 45. 46
45.40
51.14
47.25
44.95
'
42.45
'
46.
74
51.14
60.
41
46.31
45.48
45.51
46.
38
Iron and steel and their products!
do
Blast furnaces, steelworks, and rolling
46.22
48.92
44.93
54,
89
36.
75
r
48.
93
50.74
47.
33
56.
24
55.39
47.51
46.81
mills!
._
--._...
dollars.
42.39
47.91
41.37
43.52
41.49
44.03
41.86
48.73
48.53
42.75
42.98
43.58
Electrical machineryt
do...
48.12
53.68
54.91
53.
58
48.41
48.12
48.63
47.84
'47.63
'
48.
69
48.71
47.90
Machinery, except electrical!
do...
47.60
47.81
47.91
49.26
47.15
52.82
53.78
52. 57
47. 81
48.29
47.58
47.98
Machinery and machine-shop products!--do__.
51.65
56.
50
58.23
56.
37
53.
63
53.07
r
52.
19
«•
52.92
51.92
51.23
53.80
52.35
Machine tools
„
_
__do...
46.86
46.19
49.42
r 43. 01 ' 46. 80
55.74
55.55
53.29
41.70
44.65
45.99
43.89
Automobiles!
„
do
48.92
59.56
60.03
48.98
49.18
49.
29
••
48.
09
»
•
50.
46
52.63
59.63
54.07
46.56
Transportation equipment, except autosf. d o . . .
47.60
48.84
51.51
r 49. 91
65. 32
56.07
r 50. 53
54.87
48.43
44.81
48. 40
46.98
Aircraft end parts (excluding engines)... do.._
46.37
58.92
57.16
48.67
51.48
53.43
52.82
54.00
43.56
44.91
56.16
47.31
Aircraft engines*
___do.->
49.50
49.44
53.86
47.61
63.26
64.15
51.46
64.62
49.44
60. 46
51.06
45.56
Shipbuilding and boatbuilding..
...do
45.30
49.52
49.55
46.13
47.13
47.31
47.55
48.81
46.15
44.41
45.71
46.08
Konferrous metals and products!
do
33. 08
34. 97
36.20
32.91
33.41
31.78
32.15
r 33. 52
' 34.88
35. 33
31.98
33. 52
Lumber and timber basic products!
....do...
31.86
33.90
35. 22
30.58
31.91
34.02
«• 33. 47
30.15
30.69
32. 20
32.13
32.38
Sawmills (incl. logging camps)
do...
r
35.89
37.61
37.54
36.07
r 36. 86
37. 80
38.25
33. 89
36. 50
35.21
35.44
36, 89
Furniture and finished lumber produetst-do...
36.59
38.23
88.01
37.46
39.16
38.46
36. 56
35. 39
36.21
37.21
37. 35
34.49
Furniture!
do...
r
39.61
40.46
40.69
38.33
r 39. 76
41. 03
41.73
S9.08
39.12
38. 95
39.33
40. 38
Stone, clay, and glass products!....
.
do...
r
37.76
38.18
38.95
40.11
38.75
r 39. 01
39. 84
38.52
36.63
37.89
37.80
38. 59
v 39.91
Nondurable goods industries
do...
Textile-mill products and other fiber
32.44
34.97
33.76
31.25
<• 34. 69
32.41
31.67
31.65
29. 60
31.01
31.50
30.38
manufactures!^
.
dollars
Cotton manufacturers, except small wares!
30.14
31.79
28. 21
31.36
29.25
29.01
28.32
28.72
27.13
29.01
29.38
27.52
dollars.
32.42
33.74
r 34. 74
35.10
31.86
31.05
31.92
32.48
29.84
31.38
SO. 07
31.26
Silk and rayon goods!
.do..,
Woolen and worsted
ffianufactures
38.52
41.04
41.81
41.29
35. GO
37. 64
35.84
35.71
34.59
35.38
£6.39
36 93
(except dyeing and
finishing)!
dollars
Apparel and other finished textile products!
33.24
35.90
31.88
r 33. 70
r 36. 01
32.12
31.26
31.16
28.06
30.81
30. 28
31.81
dollars
33.88
34.94
37.04
37. 50
32.38
32.89
30.10
32.40
31.98
32.77
34.38
33. 32
Men's clothing!
.do...
42.95
r 42. 50
«• 46.83
46. 29
41.45
38.81
40.11
41.07
38.15
36.72
33.75
40.87
Women's clothing §
_.
do_.
36.03
36. 69
37.37
37.58
34.82
33. 93
35.74
34.69
36.12
35. 47
33. 62
34. C2
Leather and leather products!..
do..
36.03
34.71
r 35. 99
r 35. 95
32.86
34.13
32.37
32. 72
34.74
34.00
32.24
32.95
Boots and shoes
do..,
41.49
41.37
40.93
r
40.
47
40.75
40.31
39.50
38.96
38.16
39.36
40.01
39.98
Food and kindred products!
do_.
40.95
41.15
41.49
41.74
40.21
38.82
41.37
41.28
39.37
40, 27
39.66
39.83
Baking
do__.
35.51
33.18
33.71
33.86
32.71
31.56
33.87
31.72
32.29 I
32.63
30.11
32.24
Canning and preserving!
do__,
44.54
47.51
46.68
43.23
42.56
42. 68
42.74
45.78
45. 08
41.57
45.81
45.68
Slaughtering and meat packing
..do...
32.36
31.98
32.95
32.48
33.35
31.04
32.65
31.53
32.36
30. 73
29. 85
33. 21
Tobacco manufactures!
do..
41.10
39.77
41.46
«• 41.17 r 41. 15
' 41.96
42.02
41.23
40.74
38.69
40.96
40. 78
Paper and allied products!
do_..
44.86
44.08
44.34
44.75
43.14
44.67
44.80
44.81
44.30
44.26
41.86
44.46
Paper and pnlp
_do...
Printing, publishing, and allied industries!
50.94
49.28
49.36
' 49. 80 r 50.97
48.83
48.89
48.01
46.93
4G. 62
46.63
46.60
dollars
52.70
52.95
' 53.67
54.99
55.45
52.26
52.19
53.13
52.54
50. 53
50.64
51.09
Newspapers and periodicals'
do...
48.18
49.35
49.
51
r
48.
30
47.25
47.92
45.90
45.18
44.65
45.
C
O
43.
44
47.39
Printing, book and job*
_
...do...
r
42.10
42.55
42.61
r 42. 53
42. 94
43.28
42.95
43.53
43.01
45.24
45.03
45.26
Chemicals and allied products!
do..,
50.66
' 49. 91
50.58
' 50. 25
51.46
49.25
49. 56
54.11
53.96
50.03
54.23
54.03
Chemicals
.
do...
53.54
53.05
52.06
«• 53. 45 r 53. 30
53.55
51.33
58.01
54.70
57.72
57.28
57.24
Products of petroleum end coal!
do_.,
55.42
54.59
56.70
56.
25
r
55.86
56.21
57.37
53.
03
59.89
60.57
59.80
59.77
Petroleum refining
_do...
45.48
46.71
' 46.85
' 46. 46
49.68
44.68
45.57
46.76
47.20
50.09
51. 45
61.81
Rubber products!
do...
54.60
50.29
49.72
r
49.
21
48.54
47.78
49.48
57.32
59.59
52.
81
53.
59
59.20
Rubber tires and inner tubes.
do_.
' Revised.
v Preliminary.
t Sample was changed in November 1942; data are not strictly comparable with figures prior to that month.
§ Sample was changed in July 1942; data are not strictly comparable with figures prior to that month.
* New series. Indexes of pay rolls beginning 1939 for retail food establishments and 1940 for water transportation are shown on p. 31 of the June 1943 Survey. Data beginning
1932 for the newspapers and printing, book and job, industries will be published later; see November 1943 Survey for data beginning August 1942. Data for the aircraft engine industry
beginning 1939 will also be published later.
t Revised series. See note marked " ! " on p. S-10 regarding revisions in the indexes of pay rolls in manufacturing industries and sources of revised data and note marked "f on
p. S-ll for sources of revised data for pay rolls in nonmanufacturing industries. The indicated series on average weekly earnings and average hourly earnings (p. S-14) have been
shown on a revised basis beginning in the March 1943 Survey and data are not comparable with figures showTn in earlier issues (see note marked " t " on p. S-13 of the July 1944 Survey): data prior to 1942 have not been published in the Survey and will be shown in a later issue; there were no revisions in the data for industries that do not carry a reference to
this note.
SURVEY OF CURRENT BUSINESS
S-14
Unless otherwise stated, statistics t h r o u g h 1941
and descriptive notes m a y be found i n t h e
1942 S u p p l e m e n t t o the Survey
1946
1945
1946
May
July 1946
May
August September
July
June
October
Novem- December
ber
January
February
1.107
1.004
1.070
1.095
1.169
1.053
1.139
1.123
1.195
1.230
1.231
1.188
1.258
1.273
1.066
.830
.804
.864
.882
.942
.941
1.129
' 1. 002
r 1. 064
1.084
1.029
1.147
1.129
r 1. 206
r 1. 248
r 1.234
1.222
1. 268
1.278
1.091
.836
.810
r.871
.891
.967
.953
March
April
EMPLOYMENT CONDITIONS AND WAGES—Continued
WAGES—Continued
Manufacturing industries, average hourly earnings:
Natl. Ind. Con. Bd. (25 industries)..
...dollars..
U. S. Dept. of Labor, all manufacturing!
do
v 1.150
Durable goods industries!
do
Iron and steel and their products!..
do....
Blast furnaces, steel works, and rolling
do
Electrical machinerv! Machinery and machine-shop prod
Machine tools
. . .do .
dn
Automobiles!
Transportation equipment, except autos!___do
Aircraft and parts (excluding engines)..do
Aircraft engines*
do
Shipbuilding and boatbuilding
.do
Nonferrous metals and products!
do
Lumber^ and timber basic products!
..do
Sawmills (incl. logging camps)
•
do
Furniture and finished lumber products!..do
Furniture
dn
Stone, clav, and glass products!
do
Nondurable goods industries^
do
Textile-mill products and other fiber
manufactures!..
. . .
dollars
Cotton manufactures, except small
dollars..
Filk and ravon goods!
dn
Woolen and worsted manufactures
(except dyeing and finishing)!
dollars..
Apparel and other finished textile products!
dollars..
Men's clothing! .„._.
. .
do
Women's clothing!
do
Leather and leather products!
do
Boots and shoes
_.
do . .
Food and kindred products!
do
Baking
.
.
. . . . . . . do .
Canning and preserving!
do
Slaughtering and meat packing
.do....
Tobacco manufactures!
do . .
Paper and allied products! .
do
Paper and pulp
. . _. do .
Printing, publishing, and allied industriest dn
Newspapers and periodicals*.
. do
Printing, book and job*
do
Chemicals and allied products!
do
Chemicals
_
do .
Products of petroleum and coal!
do
Petroleum refining
. .
do .
Rubber products!
do
do
Rubber tires and inner tubes
Nonmanufacturing industries, average hourly earnings
(17. S. Department of Labor):*
Building construction
dollars
Mining:
Anthracite
do . .
Bituminous coal
_ .
do
Metalliferous
_
. . . . do
Quarrying and nonmetallic .
do
Crude petroleum and natural gas
do
Public utilities:
Electric light and power
. . do .
Street railways and busses
do
Telegraph
do
Telephone^.-_
. . do
Services:
Dyeing and cleaning
do
Power laundries
do
M_ .
Trade:
Retail.—
do . .
Wholesale
_
do
Miscellaneous wage data:
Construction wage rates (E. N . R.):1
Common labor
dol. per hr
Skilled labor..
do
Farm wages without board (quarterly).
dol n A r rnrrnth
Railway wages (average, class I)
dol. per hr__
Road-building wages, common labor:
United States average...
_ do
v .997
1.100
1.042
.134
,112
1.208
.068
1.152
L. 131
.183
1. 269
L. 297
L 189
.308
.382
.077
.814
.800
.859
.883
.928
.903
1.111
1.038
1.130
1.112
1.214
1.061
1.150
1.126
1.191
1.268
1. 300
1.196
1.293
1.385
1.072
.822
.809
.852
.872
.929
.904
1.106
1.033
1.127
1.114
1.218
1.057
1.148
1.128
1.182
1.260
1.301
1.197
1.287
1.388
1.068
.810
.794
.852
.874
.931
.902
1.103
1.024
1.113
1.109
1.204
1. 038
1.134
1.118
1.176
1.245
1.297
1.190
1.271
1. 386
1.067
.813
.799
.835
. 858
.939
.909
1. 085
.987
.072
1.089
L. 171
1.014
119
.103
1.152
.224
1,264
1.176
1.188
1.319
1.044
.819
.804
.833
.850
.937
.903
1.079
.985
1.063
1.078
1.143
1.031
1.118
1.103
1.172
1.219
1.250
1.188
1.188
1.297
1.048
.784
.762
.841
.862
.932
.909
1.088
.990
1.064
1.082
1.146
1.039
1.124
1.109
1.193
1. 217
1.244
1.183
1.194
1.301
1.058
.789
.765
.844
.866
.928
.918
1.102
.994
1.066
1.091
1.155
1. 050
1.134
1.120
1.210
1.220
1.239
1.187
1.208
1.292
1.063
.814
.790
.859
.879
.939
.927
r 1. 146
1.034
' 1.102
1.168
1.290
1.037
1.169
1. 154
r 1.214
T
1. 256
* 1. 264
1 231
1.258
1. 325
1.116
.848
.826
.888
.913
.985
.975
1.16£
1. 055
1.131
1.185
1.29*
1.095
1.17c
1.163
1.221
1.30C
1.319
1. 24f
1.292
1.394
1.132
.856
.90S
.930
1.00'
.988
.745
.759
,763
.770
.763
.773
.786
.795
.803
.833
.858
.868
, 667
.732
.692
.747
.705
.753
.708
.766
.698
.761
.698
.762
.713
.777
.721
.788
.724
.790
. 753
.812
.788
.838
.799
.845
.999
1. 010
.869
873
.869
.877
.866
.882
.884
.900
.922
.988
.847
.882
1.073
.859
.830
.874
.858
.811
.937
.747
.878
.002
1.133
1.291
1.064
.990
1.141
1.204
1.265
1.132
1.284
.839
.894
1.043
.857
.832
.877
.861
.797
.953
.757
.879
.906
1.128
1.287
1.058
.997
1.149
1.207
1.266
1.140
1.307
.829
.891
1.022
.851
.823
.874
.871
.782
.946
.749
.881
.913
1.123
1.292
1.052
.999
1.149
1.217
1.277
1.138
1.296
. 846
.896
1.052
.857
.832
.882
.874
.823
.940
.765
.880
.911
1.144
1.317
1.063
1.003
1.160
1.222
1.280
1.119
1.269
.878
.897
1.119
.853
.821
.880
.874
.795
.958
.786
. 893
.930
1.158
1. 309
1.092
.992
1.148
1.217
1.281
1.098
1.243
.875
.883
1.130
.852
.817
.895
.881
.837
. 954
. 703
.897
.931
1.155
1.316
1.079
.991
1.143
1.204
1.285
1.100
1.231
.864
.881
1.113
.857
.821
.908
.901
.834
.964
.807
.902
. 935
1.171
1.334
1.098
.991
1.148
1.217
1.287
1.112
1.249
.875
.888
1.126
.881
.848
.915
.904
.849
.951
.806
.910
.945
1.188
1. 346
1.118
1.001
1.159
1.236
1.315
1.113
1.247
.906
.912
1.166
.904
.877
.921
.904
.846
.961
.824
.928
.969
1.200
1. 364
1.130
1. 015
1.180
1.249
1.330
1.121
1.255
.922
.947
r 1.168
.907
.890
.924
.913
.844
.939
.832
.937
.982
r 1. 221
r 1.379
r 1.155
1.021
1.198
r
1. 286
1. 369
1.129
1.266
'. 961
.981
' I . 222
.917
'.892
'.943
.920
.859
' 1.051
.830
r. 956
1.001
1. 236
' 1. 403
1.167
1. 033
r
1.211
1.307
r
1.383
1.138
1.275
.966
.993
1.23"
.928
.899
.953
.93C
.889
1. 074
.830
. 965
1.00S
1.244
1.423
1. 163
1.044
1.220
1.331
1.419
1.234
1.422
1.366
1.374
1.387
1.383
1.392
1. 396
1.397
1.397
1.402
1.422
1.411
v 1. 423
1.039
1.256
1.038
.879
1.172
1.170
1.285
1.045
.879
1.184
1.219
1. 254
1.039
895
1.209
1.327
1.249
1.048
.885
1.187
1.345
1.261
1.055
.900
1.222
1. 368
1.242
1.043
.902
1.189
1.333
1.263
1.048
.909
1.231
1.380
1.281
1.051
.90S
1.251
1.339
1.259
1.036
.907
1.257
1.376
1. 265
' 1.059
.913
' 1. 284
1. 376
1.274
' 1.071
.930
r
1. 308
1.352
1.239
1.089
.955
1.291
1.132
.965
.839
.926
1.136
.970
.833
.941
1.146
.979
.826
.944
1.139
.974
.901
.977
1.149
.983
.825
.959
1.127
.982
.822
.972
1.162
.981
.820
1.002
1.186
1.013
.822
1.011
1.177
1.007
.813
1.030
1.195
1.011
.833
1.095
1.222
1. 001
.851
1.105
1.219
1.025
.886
1.132
.765
.662
.773
.666
1.750
1.656
1.746
1.649
1.778
1.661
1.794
1.662
1.786
1.673
1.789
1.676
i. 793
1.675
1.793
1.675
1.815
1.684
1.833
1.688
.764
1.018
.769
1.027
.773
1.037
.773
1.013
.783
1.025
.793
1.045
.800
1.056
.796
1.058
.828
1.070
r. 835
1.095
.841
1.101
.854
1.121
.909
1.65
.916
1.66
.916
1.67
.916
1.67
.917
1.67
.917
1.67
.917
1.68
.938
1.68
.953
1.70
.968
1.73
.988
1.74
1.004
1.76
.952
93 10
.948
99 00
.957
.943
.963
95.70
.940
.957
.967
95.30
.953
.973
.949
.78
.77
.80
.83
.79
.82
.81
.80
.75
.69
.75
.75
.76
*94
81
81
81
82
83
85
87
88
90
92
93
92
74
60
7
74
60
75
60
75
61
7
76
61
78
62
8
79
63
8
80
63
8
81
64
9
82
64
10
83
65
10
84
6.
1.018
1. 77
2
97. 4C
PUBLIC ASSISTANCE
Total public assistance
mil. of doLOld-age assistance, and aid to dependent children and
the blind, total.
mil. of dol..
Old-age assistance
do
General relief..
do .
T
a
7
7
7
Revised, P Preliminary. §Sample was changed in November 1942; data are not strictly comparable with figures prior to that month.
The average for workers who were employed in February was $1,217; this average is affected by strike conditions, since maintenance workers were left on during the strike
while low-paid production workers were out; the average is therefore omitted from the table above to avoid misinterpretation.
i Not comparable with data prior to July 1945; comparable June 1945 figures: Dyeing and cleaning, $0,757; power laundries, $0,657.
» Data as of June 1.
JData beginning April 1945 are not comparable with earlier data; see note for hours and earnings in telephone industry at the bottom of p. S-13 of the April 1C46 Survey.
f Rates as of June 1, 1946: Construction—common labor, $1,034; skilled labor, $1.80.
*New scries. Data on hourly earnings for 1937-43 for the telephone industry are shown on p. 20 of the May 1945 Survey (see also note marked "+" above regarding a change in the
data in April 1945) and data for the telegraph industry beginning June 1943 are on p. S-14 of the January 1945 issue. Data on hourly earnings beginning Merch 1942 for the other
uonmanufacturing industries and beginning August 1942 for the printing and publishing subgroups are available, respectively, in the May 1943 and November 1943 issues, and data
back to 1939 will be published later.
See note " ! " on p. S-13.
SURVEY OF CURRENT BUSINESS
July 1946
Unless otherwise stated, statistics through 1941
and descriptive notes may be found in the
1942 Supplement to the Survey
1946
1915
May
August September
May
June
July
S-15
1946
October
Novem- December
ber
January
February
March
April
FINANCE
BANKING
Agricultural loans outstanding of agencies supervised
by the Farm Credit Administration:
Total.—
.
_ mfl. ofdol.Farm mortgage loans, total
.
do
Federal land banks
.
do
Land Bank Commissioner
do.
Loans to cooperatives, total
do
Banks fcr cooperatives, incl. central bank..do
Apr. Marketing Act revolving fund
do_...
Short term credit, total
do
Federal intermediate credit bankscT
do
Production credit associations
. do .
Regional agricultural credit corporations do
Emergency crop loans
. _ _ do
Drought relief loans.._ _
do
Bank debits, total (141 centers)!
do
New York City . . .
_
......
do
Outside New York City
. do
Federal Reserve banks, condition, end of month:
Assets total
do
Reserve bank credit outstanding, total
do.....
Bills discounted
do. ._
United States securities
..do
Gold certificate reserves <g>
do
Liabilities, total
do
Deposits, total
.
do _
Member bank reserve balances .
do....
Federal Reserve notes in circulation . . . . do
Reserve ratio
percent..
Federal Reserve weekly reporting member banks, condition, Wednesday nearest end of month:
Deposits:
Demand, adjusted...
.
mil. of dol..
Demand, except interbank:
Individuals, partnerships, and corporations.do
States and political subdivisions
do
United States Government
do. _.
Time, except interbank, total
do
Individuals, partnerships, and corporations.do
States and political subdivisions
do
Interbank, domestic
do
Investments, total
do
V. S. Government direct obligations, total...do.
Bills
..
do....
Certificates
.
. . do
Bonds
..
.
. .
do
Notes
do
Obligations guaranteed by U. 8. Government-do......
Other securities
do
Loans, total _
.
_
_ . . do _-•
Commercial, industrial, and agricultural! ao
To brokers and dealers in securities
_ _ do
Other loans for purchasing or carrying securities
mil. of dol._
Real estate loans
do
Loans to banks
. .
_
do
Other loans
.
do
Money and interest rates:^
Bank rates to customers]:
New York Citv
percent
7 o*'jer northern and eastern cities
do
11 southern and western cities
do
Discount rate (N. Y. F. R. Bank) •
.
do
Federal land bank loanst
do
Federal intermediate credit bank loans
.do
Open market rates, New York City:
Prevailing rate:
Acceptances, prime, bankers', 90 days
do
Commercial paper, prime, 4-6 months.
do
Time loans, 90 days (N. Y. S. E.)
do
Average rate:
Call loans, renewal (N. Y. S. E.)
.do
T7. S. Treasury bills, 3-mo
...do
Average yield, U. S. Treasury notes, 3-5 yrs.:
Taxable*
do
Savings deposits, New York State savings banks:
Amount due depositors
mil. of dol..
TJ. 8. Postal Savings:
Balance to credit of depositors
. . .
. do
Balance on deposit in banks
...do
1,777
1,188
1, 009
179
124
119
3
466
32
291
4
106
32
77,518
35, 085
42, 433
1,969
1,377
1,068
309
148
145
2
445
30
257
9
112
36
74, 321
33, 678
40,643
1,962
1,370
1,061
309
138
135
2
454
30
267
10
112
36
89,441
41, 725
47,716
1,940
1,351
1,049
302
133
131
2
455
29
270
10
111
36
71,876
33, 590
38, 286
1,908
1,335
1,044
'292
126
124
2
447
28
264
10
109
35
66,155
29,388
36,767
1,876
1,316
1,040
275
130
127
2
430
27
252
10
106
35
64, 263
28, 545
35, 718
1,846
1,294
1,036
259
152
149
2
400
25
230
10
101
34
73, SSO
34,984
39,006
1,808
1,272
1,030
242
165
161
3
372
25
207
8
98
34
71, 501
32, 246
39, 255
1,782
1, 256
1,028
228
162
158
3
363
28
199
6
97
34
92,809
45, 035
47, 774
1,770
1, 236
1,022
214
161
156
3
373
29
208
5
97
33
80, 796 '
38, 819
41, 977 '
1,772
1,226
1,022
205
154
148
3
391
28
226
4
100
33
66, 70S
30, 498
36, 210
1,776
1,209
1,015
194
144
138
3
423
29
252
4
105
33
79,118
35, 670
43, 448
1,770
1,198
1,012
186
125
120
3
448
31
274
4
106
32
79, 330
37, 208
42,122
43,807
23,518
254
22,932
18, 092
43, 807
17,365
15, 653
43.7
42,168
22,131
875
20,954
18,112
42,168
17,247
15,296
1,038
22, 885
45.7
42, 212
22,304
46
21,792
18,055
42, 212
17,188
14, 920
1,585
23,019
44.9
42,195
22,359
302
21,717
17,981
42,195
16, 896
14, 794
1,037
23,314
44.7
42,896
23, 207
362
22, 530
17,926
42,896
17,139
15,011
920
23,864
43.7
43,835
24,082
334
23, 328
17,898
43,835
17,861
15, 520
1,153
24,003
42. 8
43 889
23,987
439
23, 276
17,879
43,889
17 525
15,723
904
24, 215
42.8
44,611
24,697
775
23,472
17,870
44, 611
18,097
16,022
1,024
24,365
42.1
45,063
25,091
249
24, 262
17,863
45,063
18, 200
15,915
1.471
24,649
41.7
44, 268
23,976
294
23, 264
17, 983
44, 268
17,822
15, 682
•-1,089
24,153
42.8
44, 093
23,648
347
22, 904
18, 049
43, 487
17. 559
15,537
T
1, 014
24,131
43.3
43, 889
23,630
626
22, 601
18,075
43, 277
17,659
14,853
027
23,993
43.4
43, 652
23, 357
279
22, 732
18, 097
43,030
17, 451
15, 606
959
23,925
43.7
38,941
40, 378
86,367
37,533
38,140
38,690
3P, 592
40, 247
37,066
38,026
r 37,610
37,116
38, 242
38, 669
2, 433
11,377
10,030
9,851
128
9,153
48, 983
45, 586
1,014
10,383
27, 475
6,714
36,525
1,909
14,978
8, 567
8,415
109
9,799
49, 702
46, 523
1,889
10,611
24, 557
9,466
20
3,159
13, 835
5,918
2,727
37,626
1,904
13, 741
8, 786
8,637
107
9,399
50,303
46,992
1, 656
10, 581
25,190
9,565
8
3,303
13,393
5,926
2,421
38,115
1,864
11,739
9,008
8,853
111
9,655
49,705
46,360
1,463
10,196
25, 253
9,448
11
3,334
12,841
5,982
2,263
38,577
1,975
9,406
9,160
9,008
110
9,762
48,444
45,133
1,310
9,803
24,840
9,180
10
3,301
12, 586
6,218
2,194
?9,726
2,137
8,098
9 296
9,148
104
9 977
48 435
45,133
969
• 9 863
25,133
6, J§8
9
3,293
12, 51C
6,328
2,177
40,230
2,181
8,547
9,347
9,194
110
10, 463
48, 749
45, 489
975
9,832
25,729
8,953
12
3,248
13,632
6, 77S
2,481
37, 674
1,949
16, 660
9,447
9,304
99
11,092
52, 058
48, 664
1,761
12,130
26, 737
8, 036
10
3,384
15,890
7, 249
2,791
37,933
2,123
16, 227
9, 566
9,416
106
10,162
53, 021
49, 648
1,742
12, 778
27,184
7,944
8
3,365
15,190
7,300
2,337
37, 741
2,160
16, 481
9,695
9.526
123
10, 056
52, 970
49, 511
1,517
12,860
27, 234
7,900
3, 3S0
14, 904
7,482
2,167
40,190
2,374
5,501
8,467
8,314
109
9,303
45, 905
42,500
1,195
10,663
23,276
7,366
342
3,063
11,636
5, 765
2,345
3,452
15,1?8
7,382
2, 345
36,990
2,243
14,536
9,756
9,582
127
9,381
50, 285
46, 812
785
11,944
27,034
7,049
6
3,467
15, 690
7,464
2,823
38,041
2,456
12,363
9,881
9,704
129
9,533
49, 380
45,986
1,052
10,626
27, 402
6,906
7
3,387
15,053
7,473
2,204
2,113
1,228
74
1, 840
964
1,049
117
1,396
2, 590
1,052
78
1,470
2,409
1,055
94
1,488
1,993
1,058
77
1,463
1,550
1,063
76
1,485
1,306
1 060
120
1 519
1,638
1,073
66
1,596
2,958
1,095
83
1,714
2,687
1,107
56
1,703
2,520
1,129
55
1,747
2,382
1,152
68
1,801
2,224
1,195
91
1,866
1.00
4.00
1. 50
1.00
4.00
1.50
2 20
2.55
2 80
1.00
4.00
1.50
1.00
4.00
1.50
1.00
4.00
1.50
2.05
2.53
2.81
1.00
4.00
1.50
1 00
4.00
1.50
1.00
4.00
1.60
1.71
2.23
2 38
1.00
4.00
1.50
1.00
4.00
1.50
1.00
4.00
1.50
1.75
2.34
2.93
1.00
4.00
1.50
1.00
4.00
1.50
.47
.75
1.25
.44
.76
1.25
.44
.75
1.25
.44
.75
1.25
.44
.75
1.25
.44
.75
1.25
.44
,75
1.25
.44
.75
1.25
.44
.75
1.25
.44
.75
1.25
.44
.75
1.25
.44
.75
1.25
.44
.75
1.25
1.00
.375
1.00
.375
1.00
.375
1.00
.375
1.00
.375
1.00
.375
1.00
.375
1.00
.375
1.00
.375
1.00
.375
1.00
.375
1.00
.375
1.00
.375
i 1.18
1.16
1.16
1.16
1.17
U . 19
*1 17
U.14
U.15
U.10
U.03
1.99
i 1.12
8,357
8,419
8,502
8,560
3,043
5
3,062
5
' 6,978
' 2, 507
'905
P 264
v 188
*279
v 14
P 59
p 101
v 7,312
r 2, 651
'957
p 289
J> 801
24,064
8,634
7,578
7,711
7,791
7,893
8,003
8,078
8,144
8,283
3,088
5
2,608
8
2,659
8
2,720
7
2,785
8
2,836
8
2,880
6
2,909
6
2,933
6
' 2,981
5
3,013
5
v 7, 513
v 2, 779
v 1, 002
5,541
1,961
718
184
154
238
10
48
84
5,697
1,987
719
188
150
237
11
49
84
5,654
1,992
712
192
145
235
11
47
82
5, 649
1,988
706
196
142
232
11
45
80
5, 702
2,010
717
202
144
235
11
44
81
6,000
2,086
754
210
156
247
' 11
44
86
6,344
2,190
805
219
173
262
12
47
92
6,734
2,365
903
227
198
283
14
74
107
6,505
' 2, 364
877
235
189
272
14
66
101
' 6, 564
' 2, 408
••879
245
'184
274
14
61
99
CONSUMER SHORT-TERM CREDIT
Total consumer short-term debt, end of month*..do
Instalment debt, total*
. do
Sale debt, total*
do
Automobile dealers*.. _
. d o
D e p a r t m e n t stores and mail-order houses*..do
F u r n i t u r e stores*
_ . do
Household appliance stores*...
. .
do
Jewelrv stores*
do
Allother*
...
. . . do
f
v 205
J-293
.
P 01
v 107
P288
p 15
P 60
P 105
Revised. *> Preliminary. § Includes open-market paper. ^ For bond yields see p. S-19 .
i For Sept. 15-Dee. 15 includes Treasury notes of Sept. 15, 1948, and Treasury bonds of Dec. 15, 1950: Beginning Dec. 15, includes only the bonds of Dec. 15, 1950.
d* Excludes loans to other Farm Credit Administration agencies.
t Rate on all loans; see note on item in April 1946 Survey.
® Effective June 12, 1945, only gold certificates are eligible as reserves; for total reserves through May 1945, see April 1946 Survey and earlier Issues.
• A rate of 0.50 was in effect from Oct. 30, 1942-April 24, 1946, on advances to member banks secured by Government obligations maturing or callable m 1 year or less.
•New series. Data beginning December 1940 for the series on taxable Treasury notes are available on p. S-14 of the April 1942 and later issues of the Survey. For information
regarding the series on consumer credit see note marked "*" on p. S-16.
tBank debits have been revised beginning May 1942 to include additional banks; see note in the April 1946 Survey for source of 1942 data.
S-16
SURVEY OF CURRENT BUSINESS
Unless otherwise stated, statistics through 1941
and descriptive notes may he found in the
1942 Supplement to the Survey
1946
May
July 1046
1945
May
June
August
July
1946
September
October
Novem- December
ber
January
February
March
April
FINANCE—Continued
CONSUMER SHORT-TERM CREDIT—Cont.
Consumer short-term debt, end of month—Continued.
Instalment debt—Continued.
Cash loan debt, total*
mil. ofdoL.
Commercial banks*
do
Credit unions
rio
Industrial banks*
do
Industrial loan companies*
do
Small loan companies
do
Insured repair and modernization loans* do
Miscellaneous lenders*
do
Charge account sale debt*
do
Single payment loans*
do
Service cred it *
GO
Consumer instalment loans made by principal lending
institutions:
Commercial banks*
mil. of dol__
Credit unions
do
Industrial banks*
do
Industrial loan companies*
do
Small loan companies
do
p 1,777
p 657
v 142
p 2. 1 ^2
p l.Ti'O
1,280
406
122
70
03
391
140
88
1. 459
1, 452
751
1,282
406
121
70
63
389
145
88
1,441
1,466
754
75
18
13
12
76
73
18
13
11
71
34, 526 34, 864 35, 070
5,205
5,202
5, 201
588
588
586
4, 014
4,617
4.615
744
760
778
1,569
1,592
26. 242 26,367
25.138
17,212
17,140
16,021
15, 784 15,894
14.029
4,408
4, 400
4, 406
2,604
2,606
2,593
2,143
2,
096
2,118
533
459
1,031
655
617
786
335,614 357, 545 318,980
49,
566
38,
759
37,663
21,479
23, 075 20,870
55,831
74,147
63, 852
211,024 223, 769 192,104
35, 231
5,182
587
4,595
734
1,558
26, 616
17,287
15, 958
4,455
2, 588
2, 286
437
704
316,843
31, 066
21,691
64,143
199, 943
225,076 221, 804 218,972
111, 152 102,026 110,390
32,492
35, 760 33,317
7,089
7,202
7,394
15,713
16,218
15,153
36, 783 43, 562 34, 525
19,026
19, 287 18, 763
210,706
105,123
31,428
7,097
15,108
33, 997
17, 953
1, 268
1, 243
400
388
122
120
70
69
63
01
389
384
334 j
88 I
87
1.4SS I 1, 544
1,348 | 1,
744 I
* 28
»19
v 10
1.332
428
121
71
64
S95
J65
88
1, 666
1,490
758
1,385
448
124
73
67
409
174
90
1,835
1, 556
763
1, 462
471
128
76
70
445
179
93
1,981
1,616
772
' 1, 487
494
127
76
70
446
MSI
93
1,701
1,659
782
1,529
522
128
78
71
452
184
94
1, 692
1,671
793
, 602
564
132
82
73
462
M94
88
20
16
14
89
94
21
15
14
97
101
23
18
16
133
104
19*
14
14
76
105
19
14
14
80
132
138
16
103
v 16
J-105
35, 828
5,165
580
4, 585
699
1,531
26, 733
17, 672
16, 328
4,391
2,597
2,073
893
807
324,437
33,132
17,629
64, 772
20S, 904
36, 257
5,163
577
4, 586
678
1,523
27, 556
18, 705
17,368
4, 249
2,558
2,044
526
811
440, 694
87, 495
25, 250
88, 207
239, 742
36, 502
5,152
574
4, 578
667
1,514
28,043
19,157
17, 837
4, 255
2, 584
2,047
527
599
352,397
49, 026
26,978
68, 278
208,115
36, 660
5,138
573
4, 565
656
36. 882
5,148
569
4, 579
37,080
5.163
575
16,050
4,496
2, 632
2,221
514
761
320.128
32; 815
18,874
68, 395
200, 044
35, 631
5,153
583
4, 570
714
1, 539
26,702
17,438
16,123
4,452
2,613
2,199
722
801
313,803
35,790
22,164
62,088
193, 761
1G4,4G8
89, 344
30,011
6, S13
14,138
34, 309
19,853
228,153
109, 531
40,350
8,266
15,690
31,934
22,382
212, 755
101,319
34, 373
6, 300
15, 950
31, 699
23,114
239,748
101,343
30, 731
7, 269
14, 523
58, 906
26,976
261, 549
120,377
40, 344
8,294
21,074
46,104
25, 356
1,293
413
120
70
64
387
152
87
1,470
1, 466
756
vl, 694
J>608
P137
p 85
p 76
M82
*>209
v 97
* 2.138
p 1,710
* 813
LIFE INSURANCE
Life Insurance Association of America:
Assets, admitted, total! A
.
mil. of do).. 37, 274
5,189
Mortgage loans, total
.
do
' 581
Fnrm. .„
,
do.. .
4, COS
Other
...
„
do...608
Real-esfate holdings
do....
Policy loans and premium notes
....do
28,823
Bonds and stocks held (book value), total
do
19,551
Govt, (domestic and foreign), total
do
18, 239
17. F Government
do
4, 332
Public utility
do....
2, 583
"Railroad
do
2,3,
Other
do—
465
Cash
do...
701
Other admitted assets
do
Premium collections, total®
thous. of del.. 368, 987
47.047
Annuities
...do...
21.975
Group
-.do
66,580
Industrial
do
233, 385
Ordinary
do
I nstitute of Life Insurance:*
Payments to polfcybolders and benefciar'es,
total
thous. of dol_.
"Peath claim payments
....do
Matured endowments
do...
Disability payments.
do
Annuity payments
.do
Dividends.I
do
Surrender values, premium notes, e t c . . . _ do
Life Insurance Agency Management Association:
Insurance writ ten (new paid-for insurance): t
Value, total
thous. of dol_. 1,956,796
145.517
Group
do
359, 369
Industrial
do
1,451,910
Ordinary, total
do
103, 665
New England
..
do Middle Atlantic
d o . - . 3G3, 065
East North Central
d o . . . . 314.327
West North Centra!
do.__ 136, 475
158,822
South Atlantic
.. . . do._
V.ast South Central
d o . . . . 59, 598
West South Central
d o . . . 121,878
43, 772
Mountain
._
. . .
do
Pacific
d o . . . . 150,308
, 267,4741, 216,264
112. 307 136,264
284,780 258,971
870. 387 821,029
56, 306
60,811
227, 478 211,774
188,167 175,712
80, 822 79, 386
80, 433 90. 013
33, 895 36, 658
64, 694 61, 755
25, 802 25, 410
99. 255 83, 955
35,433
5.166
584
4,582
723
1,548
26, 721
17, 372
1,127,506 1,035,767 1,001,208 1 221,831
109,833
95,179
88,981
71,016
235, 258 224, 762 222, 083 208, 599
782, 415 739,989 684, 006 864, 251
55,114
45, 735
61, 722
49,846
200, 391 ITS, 761 166, 967 228,896
171,205 160,039 149, 584 186,316
75, 528
68, 706
74, 355
82, 849
86. 779
75, 824
83, 252
95, 216
30, 470
29, 284
29,125
32, 502
58, 770
53! 091
60, 831
64, 013
23, 888
22,885
23, 768
26, 005
80, 270
71,930
80, 012
86, 732
1,507
28,260
19, 249
17,937
4,290
2, 595
2,126
275
824
350,147
42, 063
22,943
65, 579
219, 562
221,902
104, 642
32, 587
7,179
15, 597
38,179
23, 718
632 j
4. 5S8
622
1,494
1.500 I
28,545
28,367
19,413
1H. 357
18,090
18.035
4.298
4,312
2,563
2. 549
2,149
2, 271
571
383
685
852
390. 879 328, 586
40, 283
43. 661
24,090
21,663
71,010
59, 268
252,118 207, 372
236. 574
110.072
34, 479
35, 793
7, 459
7. 987
16.278
16.227
49.559 I 38,690
28, 213
29, 596
254,13
116, 356
1,179,294 1,449,014 1,350,915 1,516,833 1,816,315 1,971,219
64, 534 244, 760
49, 780
88, 416 113, 803 138,376
250, 253 263,151 275, 647 307,074 355,691 359, 324
1,346,821 1473,519
1,121,343
864, 507 941,103 1,025,488
99,114 109, 744
83, 573
63, 267
60, 088
78, 235
364.915 395,030
311,753
235,
875
288,146
228, 549
186, 772 202,162 230,310 247, 889 296, 874 321, 302
83, 418
94, 645
96.091 100,841 123. 992 135,065
92, 099
95, 808 101, 263 113,212 142, 648 159, 507
52. 013
41, 642
57, 384
33,191
37, 231
36,008
99,120 109,597
86.870
66, 552
78, 747
70, 749
38, 662
32,159
43,983
25, 544
31, 561
29,107
88,294 101,807
95, 579 103,404 129, 483 141, 907
MONETARY STATISTICS
Foreign exchange rates:
.298
.298
.298
.298
.298
.298
.298
Argentina
._
dol. per paper peso.
298
.298
.298
.298
.298
.061
.061
.061
• CGI
.061
.061
.061
.061
.061
.061
Brazil, official
dol. per cruzeiro
.061
.061
.061
.301
.301
.301
.302
.301
.301
.301
British India
dol. per rupee..
.301
.301
.301
.301
.301
.301
.908
.905
.907
.899
.907
.908
.904
.907
.907
.908
.907
.907
Canada, free rate §
dol. per Canadian doL.
.907
.570
.570
.570
.570
.570
.570
.570
.570
.570
.570
.570
.570
Colombia
dol. per peso.
.570
.206
.206
.206
.206
. 206
.206
.206
.206
.206
.206
.206
.206
Mexico
do
.206
4.025
4.035
4.027
4.030
L033
4.035
4.034
4.032
4.034
4.034
4.034
4.034
4.034
United Kingdom, free rate!-- dol. per £
Gold:
20, 270
20, 213 20,152
20, 088
20, 036
20, 251
20. 073
20, 030
20,065
20,156
20, 256
20,232
Monetary stock, TJ. S
mil of dol. _
-66, 857
96,026 -100, 347 - 6 2 , 9 9 0 -19,009
15,090
34, 647 - 3 8 , 2 0 2
- 4 , 257 - 1 2 , 5 2 9
19, 729
—5, 770
Net release from earmark*
thous. of dol
22, 388
86,
388
261
6,742
20, 795
15. 871
2, 357
28, 423
20,146
116
361
467
Gold exports 1
do..
4,122
2,631
13, 757
13,816
3,531
2,425
3,146
39, 399 154,186
31, 757
82,906
Gold
imports J
__do_..
f
Revised.
v Preliminary.
% 36 companies having 82 percent of the total assets of all United States legal reserve companies.
4 In January 1944 one company was replaced by a, larger one and the 1943 data revised accordingly; revisions for January-September 1943 are available on request.
<8> 39 companies having 81 percent of the total life insurance outstanding in all United States legal reserve companies.
• Or increase in earmarked gold (—).
§ Data for the United Kingdom through June 1945 shown above and data back to February 1943 shown in earlier issues are the official rate; there was no free rate during this
period. The official rate for Canada has been $0,909 since first quoted in March 1940.
5 Publication of data was suspended during the war period; data for November 1941 to February 1945 will be published later.
* New series. Estimates of consumer short-term credit as originally compiled are published in the November 1942 Survey, pp. 16-20, and the general estimating procedure described
in that issue; data for various components have subsequently been revised from time to time; revisions that have not been published are indicated in the note marked "*" on p. S-lo
of the April 1946 Survey. Data for industrial banks and industrial loan companies were formerly shown combined as industrial banking companies. The series on payments to policyholders and beneficiaries represents estimated total payments in the United States, including pavments by Canadian companies (see also note marked "*" on p.*S-16 of the April
1946 Survey).
t Revised series. All series for insurance written are estimated industry totals and, with the exception of data for ordinary insurance, are revised series not comparable with data
published in the Survey prior to the March 1946 issue (see note in that issue for the basis of the estimates). The data for ordinary insurance continue the data from the Life Insurance
Sales Research Bureau which have been published regularly in the Survey; revised data for 1940-44 for industrial, group, and the total will be published later.
July 1940
SURVEY OF CURRENT BUSINESS
Unless otherwise stated, statistics through 1941
and descriptive notes may be found in the
1942 Supplement to the Survey
1946
May
S-17
1945
June
May
July
August
1946
September
October
Novem- December
ber
January
February
March
April
39,086
8, 346
3,984
36, 054
8,018
* 3,669
v 34, 090
' 8, 694
' 4,157
v 3,944
27,917
27, 954
FINANCE—Continued
1
MONETARY STATISTICS—Continued
Gold—Continued.
Production, reported monthly, total1.._.thous. of dol..
Africa
do
Canada^
do
Vnited States^
do
M oney supply:
Currency in circulation
mil. of dol..
Deposits adjusted, all bfsr.ts, snd currency cutsidt
bark^ total*
mi^ oi doi
Deposits, adjusted, total, including V. 8. deposits*
mil. of dol..
Demand deposits, adjusted, exel. U. 6.* do
Time deposits, including postal savings*...do
Silver:
Exports A
thcus. of del..
ImportsA
.
.-do
Price at New Ycrfc
del. ppr fre c?
Production:
Canada
thous. of fine oz.
United States
do
53,213
39,020
7,426
2,516
53, 340
39,600
7, 357
2,078
26, 746
27,108
27, 685
27, 826
28,049
28,211
28,515
152, 600 ' 162, 784
163,600
163,200
162,900
163,900
167, 300
175,401
P176,
141, f CO
80, COO
47, 9i 0
148,911
75, 851
48,452
P150,
53,934
39, o2l
7,614
2,503
28,116
*173, 400
26, 528
53, 560
37, 477
7,411
3, 528
52, 953
38, 603
7, 404
2,926
55,937
40 083
8,034
3,836
54,883
39, 000
7, 726
4,020
55,093
38,110
8,391
3,832
300
P177,
000
27, 879
P173,
*147,CC0 127,800
p 78, f CO 76,000
v 51,110
43, 600
137,687
69,053
'44,253
138,100
72, 200
45,100
137,300
74,000
46, 000
136,800
75,600
46, 900
137, 600
78, 200
47, 700
779
1,872
448
26, f P4
1, 808
.448
518
448
3,151
1,059
. 44S
84
1,509
. 529
230
5, 708
.707
9,528
2,835
.708
12, 592
3,173
.708
20, 937
2,490
.70S
4,794
3, 679
.708
888
1,602
.708
1,1 P8
3,153
1,100
1,655
951
2,074
1,055
V, 802
963
2, 300
1,036
2,780
1,096
2,654
1,153
2,031
1,205
2,153
' 1, 042
1,166
930
. 70S
' 27, 885
700 *174, 200
200 v 150, GOO *147, 600 1-148, 000
v 76,600 v 76, 200 v 75,100 p 77,400
v 49,000 v 49, 700 P 50,100 * 50, 600
119
2,918
.708
P R O F I T S AND DIVIDENDS (QUARTERLY)
Industrial corporations (Federal Reserve): <?
Net profits, total (629 cos.)
mil. of dol
Iron and steel (47 cos.)
. _ .do
M achinerv (69 cos.)
do
Automobiles (16 cos )
do
Other transportation eouip (68 cos )
do
Nonferrous metals pnd prod. (77 cos.) .
do
Other durable goods (75 cos )
do
Foods, beverages and tobacco (49 cos.)
..do
Oil producing and refining (45 cos.)
do _
Industrial chemicals (30 cos )
do
Other nondurable goods (80 cos )
do
Miscellaneous services (74 cos.)
do
Profits and dividends (152 cos.):*
Net profits
do
Dividends:
Preferred
do
Common
do
Electric utilities net income (Fed "ResJ*
do
Railways class I net income (I C. C.)
do
Telephones, net operating
income
(Federal
Communications CommisQion)
mil of dol
508
53
42
77
i 47
27
21
46
64
45
38
47
439
37
85
46
23
20
60
61
43
37
53
485
49
' 47
58
i 36
27
26
58
37
51
40
58
269
224
246
112
22
145
123
' 189.8
21
143
116
123.0
22
182
145
^20.0
20
146
176
13.7
59.8
60.6
99.2
72.7
312
25
17
d
1 d 10
19
12
65
54
62
64
76
PUBLIC FINANCE (FEDERAL)
U. S. war program, cash expenditures, cumulative totals
from June 1940-*
. _ mil. of dol
U. S. Savings bonds:*
A mount outstanding
do
337,110
48, C36
504
552
do...
| 272,583
do
j
282 531
43, 767
1,540
427
238,832
290 417
297,826
45,586
2,178
403
258,682
46,508
1, 295
428
262,045
304,286
309,754
46,715
700
531
263,001
46,741
514
528
262,020
314,872
319,063
323,416
326,961
329, 773
332, 432
334,995
46,786
625
616
261,817
47,473
1,184
533
265,342
48, 224
1,254
559
278,115
' 48, 617
960
630
278,887
48,718
6?2
565
279, 214
48, 756
626
634
276,012
48, 849
*• 668
r
621
273, 898
Redemptions
Debt gross, end of month®
Interest bearing:
249, 8f 0 217 16Q 237 545 240,223 240,713 239, 111 238,862 242,140 255,693 256, 801 257, 016 253, 613 251, 487
Public issues
do
20, 897
21,135
21, 223
20, 655
20, 518
20,000
21,481
20, 577
20, 710
19, 558
Special issues §
__ . _
do
20,033
IS 592
18 812
2
1, 264
1,431
1,301
1,188
2,421
« 2,492
2,264
2,391
* 2,378
1,143
N on interestbearing ._
do
2, 255
2,326
3,071
Obligations fully guaranteed by U. S. Gov't:
545
553
539
542
533
484
527
542
536
Total amount outstanding (unmatured)__.
do
541
515
409
1,151
Expenditures and receipts:
3,510
4, 602
5,445
4,891
4, 251
4,656
8, 557
6,611
5,950
3.677
7,354
Treasuiy expenditures, total
.
..do...
9, 641
9, 275
2,702
3,417
2,550
4,244
2,560
4,224
5,365
5,124
2,182
7, 324
6,398
War activitiest
do
8 156
7 837
148
684
23
200
34
0
38
0
530
95
Transfers to trust accounts!
do,..
162
335
266
309
646
174
84
172
118
106
158
Interest on debt
do
647
817
66
1 009
99
482
543
1,383
384
1,316
617
348
564
547
1,294
All other!
do
695
460
757
3,848
3,875
5,
702
4,122
2,734
2,609
2, 581
5,192
2, 754
2,C98
3,281
Treasury receipts, total
.....do
3, 398
5,916
3,819
3, 678
4,118
5,747
2,374
2,530
2,733
2,695
5,189
Receipts, net
do
2, 997
2,677
5,914
3 085
42
42
32
33
45
35
36
42
33
30
Customs
do
32
33
36
3, 684
3,451
5, 583
3,948
2,310
2,340
2,383
2, 527
4,847
2, 308
Internal revenue, total. _
. __
do
2,849
5,384
2,9?1
2,790
3,366
4,838
1,603
1,593
1,
524
1,743
2,755
4,208
Income taxes
do
1,665
4,757
2 027
1,407
51
69
310
100
,. 65
58
257
66
69
Social security taxes
do
285
69
306
337
Net expenditures of Government corporations and
-9
9
-4
—395
-635
-274
-79
222
credit agencies*...
_
.mil. of dol_.
51
181
—26
-154
778
Government corporations and credit agencies:*
33, 325
33, 741
'34,159
' 33, 472
Assets, except interagency, total
mil. of dol.
5,069
»5,321
Loans receivable, total (less reserves)...
.do
' 5, 467
' 5,187
' 2,816
2 948
To pid pgriculture
do
2 971
2,878
825
896
1 027
961
To aid home owners
do
223
196
232
To aid r°ilroads
do
243
232
200
185
'185
To aid other industries
do
25
40
43
46
To aid banks
do
185
227
163
132
To aid other financial institutions
do
545
'423
'432
' 432
Foreign loans
do
'715
'707
'845
All other
...do
'850
'! Revised. * Preliminary.
*
Deficit.
§
Special
issues
to
Government
agencies
and
trust
funds.
<
g
>
Data
are
on
basis
cf
Daily
Treasury
Statement
(unrevised).
2
Partly estimated.
Includes prepayments on securities sold during loan drive beginning in the month but issued after the close of the month.
1 The total excludes Mexico included in the total as published through March 1942; January-May 1942 and 1943 revisions for the United States and the total, and 1941 revisions
or Canada and the total are available on request; see also note in April 1946 Survey regarding revisions for 1944.
A Publication of data suspended during the war period; data for November 1941 to February 1945 will be published later.
cf The totals for 629 companies, the miscellaneous group, and net profits of 152 companies have been revised beginning 1941, transportation equipment beginning 1942, and other
series for some quarters of 1943; revisions through the second quarter of 1944 have not been published and are available on request.
tFor 194! revisions see p. 17 of the November 1942 Survey; debt retirements which have been comparatively small in recent years are excluded.
•New series. For data for 1929-40 for profits and dividends of 152 companies see p. 21, table 10, of the April 1942 Survey (see note marked "cf" above regarding 1940-44 revisions).
See note on p. S-17 of September 1944 Survey regarding the series on net income of electric utilities and data beginning third quarter of 1943, and p. S-16 of the August 1944 Survey
for a brief description of the new series on bank deposits and currency outside bank and figures beginning June 1943; earlier data for these series will be published later. Data beginning July 1940 for the scries on the war program are shown on p. 29 of the June 1943 Survey; beginning July 1945 data are from the Treasury Daily Statement; earlier figures were supplied by'the War Production Board. See note in April 1946 Survey for a brief description of the series on war savings bonds and p. S-16 of the October 1942 Survey for sales beginning
May 1941; beginning December 1945, amount outstanding includes matured bonds not turned in for redemption. See p. S-18 of the November 1943 Survey for an explanation of
the "data on net expenditures of Government corporations and credit agencies and figures beginning August 1942. See note marked " t " on page S-18 regarding revisions of the
series on assets and liabilities of Government corporations and credit agencies.
S-18
SURVEY OF CURRENT BUSINESS
Unless otherwise stated, statistics through 1941
and descriptive notes may be found in the
1942 Supplement to the Survey
1946
May
July 1946
1945
May
June
July
| August
1946
September
October
No vein-1 December I ber
January
February
March
FINANCE—Continued
PUBLIC FINANCE (FEDERAL)—Continued
Government corporations and credit agenciesf—Con.
Assets, etc.—Continued.
Commodities supplies, and materials mil of dol
do
IT S Government securities
do
Other securities
do
Land structures, and equipment
do
All other assets
Liabilities except intera?encv, total
do
Bonds,r notes, and debentures:
do
Gui Tnteod bv the United States
do
Other
. do.. __
Other liabilities
do
Privatelv owned interests
do
U S Government interests
Reconstruction Finance Corporation, loan** outstanding,
end of month totalt
mil. nfdnl
Hank.* and trust cos., incl. receivers.. __
-do._...
Other financial institutions
„ __do—.
Railroads, including receivers
- __.
Loans to business enterprises, except to aM In national
(|,ifprjs;g
mil, of dol
do
National defense
Other loa^s and authorizations...
. . . do. -
2, 507
1, 679
375
20,164
r
3 2&1
r
5, 747
2,487
1, 75fi
368
20,816
?. 411
r
6, 084
2, 288
1, 683
325
21,016
r
3 211
r
5,778
502
1, 163
' 4, 083
459
27, 266
551
1, 135
' 4, 397
465
27.610
555
1,113
r 4, 109
472
27, 492
1 918
1, 789
285
20 784
r, a-?s
1 133
4, 959
479
26, 218
1, 689
219
85
171
9.6S8
296
127
217
9,712
292
123
214
2.105
' 285
118
212
2, 036
280
115
203
2,012
277
113
/.02
1,826
275
111
202
1,847
273
108
201
1,861
268
104
198
1,827
234
100
192
1,807
229
99
171
1,776
223
^9
172
1,680
143
31
8, 325
641
30
8,417
636
s'l 6
637
35
767
636
40
746
633
40
755
144
682
442
145
707
440
145
694
461
146
703
459
175
p.sq
427
140
642
420
3,176
18, 203
2,789
1, 330
1, 452
2,130
4, 372
14, 437
1, 585
1,180
1,305
1, 937
3,057
378
102
IT
18,196
85
1
6
2,486
640
219
85
1. 256
PM6
1, 339
6K2
79
35
1, 953
905
108
04
4, 321
14, 324
35S
41
71
1,406
74
111
68
1,122
239
25
33
1.168
2*0
1, 080
425
154
103
497
92
60
30
0
2
18,111
18,060
50
944
49°
304
106
41
1, 845
1,602
66
440
795
136
374
1, 077
928
572
249
28
1,054
961
67
121
51
42
0
28
4. 252
4, 210
42
470
171
203
253
188
44
7
13
1, 333
1 261
71
416
~87
171
SECURITIES ISSUED
c
cct?ri'iits m \ T \ c ' an'-n *"'oTT'Tic"'icn:+
"Cstimat-d {. r<>« nrnc« eds, t * 1
i;y tjr^es ••' <-cvr r ity:
B o n d s P'^j>s arid del e o r n r ^ '• >trJ
T'r^'^Ted c ro k
C o m m o n v^ock
Corporate, total
Industrial
Public utility.
...
:* 11of dol
do
do
—do
- d o -
__
„,
do
do
..do
do
..do
-do..
187
76
3
2,679
2,637
42
eo
14
117
85
13
890
845
45
104
33
153
9
883
803
80
0,3
417
134
79
194
10
888
805
83
082
494
140
99
19
1,255
Pail
m
Other freal estate and financial)
657
Non-corporate, total® . . .
13, 966
606
TJ S. Government
13 670
47
State and municipal
_
-do
82
71
New corporate security issues:
780
91
Fstimated net proceeds, total
291
117
do
462
1, 057
245
925
433
485
666
405
Proposed uses of proceeds:
99
5
do
New money, total
37
103
20
136
111
190
80
150
99
213
1
50
Plant and equipment
..do
97
75
41
49
63
17
147
55
148
49
3
Working capital
27
43
do
13
53
39
44
65
88
49
20
669
80
Retirement of debt and stock
.
74
do
343
124
347
724
873
240
340
433
634
56
72
Funded debt
do
286
581
798
51
222
278
278
257
320
5
1
5
1
2
4
2
do
12
Other debt
12
19
50
57
35
Preferred stock
__ ..do
7
41
62
19
56
19
53
138
16
30
56
12
6
Other purposes
22
do
11
19
6
10
6
34
15
17
21
Proposed uses by major groups:§
59
130
Industrial, total net proceeds _
do
49
181
166
221
218
223
100
480
126
412
3
163
New money
_
. do
51
89
17
63
117
26
87
94
198
98
38
Retirement of debt and stock
50
do
74
108
157
114
30
101
59
306
15
195
371
43
32
115
Public utility, total net proceeds . . do
30
42
301
200
565
184
138
78
1
1
1
0
1
1
2
4
6
New money- - ....
-do
23
0
15
364
297
Retirement of debt and stock
43
31
30
533
35
do
177
110
183
132
7
270
0
0
do
84
Railroad, total net proceeds
105
246
68
75
150
192
98
7
1
1
4
0
2
0
27
New money
do
19
12
10
18
266
Retirement of debt and stock
0
0
-do._
0
74
220
93
50
57
148
97
190
Commercial and Financial Chronicle:
Securities issued, by type of security, total (new
587, 400 168,806 1,229,396 510,132 878,824 1,338,316 246,928 "840,149 346,113 429, 614 557, 427 1,096,711
capital and refunding)}.
thous. of dol. „
192,013
New capital, total*
_
51,918 248,647 144,446 142, 242 242, 521
do
94,438 243,977 200, 347 122, 291 223 308 373 340
186,113
51,918 248,647 144, 446 142. 242 237, 979
Domestic, totalt
do
93, 938 240,744 200,347
65,369 222, 408 373, 340
158, 460
Corporate^
1,352 211,614 107, 244 104,820 209,087
do
59, 776 161,061 131,170
47,089 127, 315 289, 600
0
0
745
Federal agencies
8.000
75
do
0
1 830
18 280
22 420
15 970
0
0
27, 653
37,422
42, 566
28,892
34,162
Municipal, State, etc
do
37, 202
79,608
35,203
68,432
0
61, 321
79,123
5,900
0
0
Foreign
0
4,543
0
0
3,232
do
56,922
500
0
900
395, 387 116.888 980, 749 365, 686 738, 582 1,095.795 152 491 596,172 145,766 307,323 334 119 723 371
Refunding, totalt
- do
395, 387 116,888 980,749 365, 686 732,082 1,069,702 128, 991 594,102 145, 766 284, 322 310,919 698, 371
Domestic totalj
do
367, 086
79. 085 749,921 si 338, 268 705, 441 988, 931
Corporate!
78 049 337,010 112,954 264, 262 284 215 362 663
do
19,180
17,180
Federal agencies
30,010 199, 580
42, 440
20, 060
do
29,900
43,810 254, 505
20, 060
22. 980 325, 685
9,121
9,461
7,793
7,359
Municipal, State, etc _ ._ _
31,248
2,587
do
2,912
3 724
10 024
38, 331
7,132
0
0
4,500
Foreign
_.
0
0
0
0
26, 093
23,001
23, 500
do
2,070
25 000
23 200
Domestic issues for productive uses (Moody's):
97
96
42
122
Total
.mil. of dol._
132
56
146
145
151
117
78
71
63
97
86
82
22
117
90
22
Corporate
do
67
26
42
33
36
Municipal, State, etc
. do .
64
35
28
34
61
56
50
Bond Buyer:
State and municipal issues:
39, 538
55, 832
Permanent (long term)
thous. of d o l - 119, 473
66,742
45,727
51,985
82, 422
75,934
83,674
40,762
76,164
88, 974 ' 85,176
Temporary (short term)
—
31, 747
- d o — _ 14, 584
13,842 146,379
45,992
28,700
1,970
50,925 131,086
64.913
59, 710
23, 909 ' 57, 582
' Revised.
• Less than $500,000.
<g> Includes for certain months'small amounts for nonprofit agencies not shown separately.
§ Small amounts for "other corporate," not shown separately, are included in the total net proceeds, all corporate issues, above.
t See note in the April 1946 Survey regarding revisions in the data for 1944.
t Revised series. Data for Government corporations and credit agencies have been shown on a revised basis beginning in the May 1946 Survey and the 1945 figures for certain
items have been further revised in this issue to take account of recent changes in the classifications. The classifications are those currently used in the revised form of the Treasury
Daily Statement. All asset items, except the detail under loans receivable, are on a net basis (after reserves for losses); reserves against loans are not completely segregated as to the
type of loans to which they are applicable and the detail of loans by purpose is, therefore, shown before reserves; most of the reserves are held against agricultural loans. Revised
data beginning with the third quarter of 1944 will be published later; earlier data cannot be revised to a comparable basis. The classification of Reconstruction Finance Corporation
loans was revised in the November 1943 Survey (see note in that issue); the figures include payments unallocated, pending advices, at end of month. There have been unpublished
revisions in the 1941-44 data for security issues compiled by the Securities and Exchange Commission as indicated from time to time in notes in the Survey: data beginning October
1944 were revised in the December 1945 issue; all revisions in the 1941-44 data will be published later.
4
SURVEY OF CURRENT BUSINESS
July 1946
fTnlean otherwise stated, statistics through 1941
[i nd descriptive notes may be found in t h e
1942 Supplement to the Survey
1946
May
I1
S-19
1946
1945
May
June
July
August
Kr
October
Novem- December
ber
January
February
March
645
755
622
712
April
FJNANCE-~Continued
SECURITY MARKETS
' rokers* Balances (N, Y. S. E. members carrying
margin accounts)^
Customers' debit balances (net)
mil. of dol_.
Cash on hand and in banks....
do....
Money borrowed— ....--.
—__.._._
do
Customers' free credit balances
^__...do
Bonds
Prices:
Average price of all listed bonds (N. Y. S. E.) .dollars..
Domestic
._._do
Foreign
_._.do
Standard and Poor's Corporation:
Industrial, utilities, and rails:
High grade (15 bonds)
dol. per $100 bond..
Medium and lower grade:
Composite (50 bonds)
.
,__
do
Industrials (10 bonds)
.....do
Public utilities (20 bonds)
._„_
.do
Railroads (20 bonds)
.
do
Defaulted (15 bonds)
do
Domestic municipals (15 bonds)f
do
U. S. Treasury bonds (taxable)t
do.__.
i^-ftles (Securities and Exchange Commission):
Total on all registered exchanges:
Market value
..thous. of dol.
Face value
_._do...
On New York Stock Exchange:
A? arket value
..do...
Face value
do._.
Exclusive of stopped sales (N. Y. 8. E.), face
value, total
thous. of dol
U. S. Government
do...
Other than U. S. Government, total...do..
Domestic
do...
Foreign
do..,
Value, issues listed on N. Y. S. E.:
Face value, all issues
..mil. of dol...
Domestic
do
Foreign
,
do.
Market. value, all issues
do.
Domestic
do.
Foreign
do.
Yields:
Domestic municipals:
Bond Buyer (20 cities)
percent..
Standard and Poor's Corp. (15 bonds)
...do.
Domestic corporate (Moody's)
___do.
By ratings:
Aaa
do.
Aa
do.
A
do.
Baa
.
do.
By groups:
Industrials
do.
Public utilities
do.
Railroads
do.
U. S. Treasury bonds, taxable t
do
1,084
1,063
1,095
824
580
758
573
762
594
743
632
711
639
1,138
313
795
654
734
727
103.45
104.00
80.73
102.97
103. 46
80.07
102.49
102. 97
79.94
102. 60
103. OS
80.60
103.16
103 61
81.88
103. 28
103. 71
82.50
103. 64
104.04
82.65
104. 75
105.14
82.32
105.19
105. 59
82.11
105. 29
105. 69
82.69
103.89
104. 25
82.88
122.3
122.1
122.3
121.7
121.6
121.9
122.0
121.9
123.8
124.5
124.5
124.3
117.9
122.1
116.5
115.0
77.5
141.3
101.7
118.1
122.2
116.7
135. 5
81.4
141.5
102.4
117.9
122.2
116.4
115. 2
80.4
141.6
102.5
117.2
121. 7
115.5
114.4
75.6
138.8
102.2
117.1
121.4
115.6
114.4
74.5
137.0
102.0
117.7
122.0
115.7
115. 3
76.6
137.7
102.4
118.3
122.5
116.0
116.6
78. 9
139. 0
102. 6
119.0
123.1
116.2
117.5
82.1
140.1
102.7
119.7
123. 9
116.3
118.9
84.9
141. 6
104.6
120.0
124.4
116. 1
119.6
85.4
143. 4
106.0
120.1
124. 5
115.9
119. 9
82.7
143. 4
106.5
119.9
124.4
115. 8
119.6
83.6
144.1
106.6
1,223
220
853
549
1,141
742
583
104.03
104. 40
83.16
103.01
103. 54
81. 23
123.7
119.5
123. 9
116.0
118. 6
81.8
142.1
104.8
895
1,100
1,094
547
6G9
209,766
327,148
186,322 100,984 101,995
260, 711 140, 213 143, 293
198,182
311,891
174,869
244,585
99, 878 94, 819 82,146
131, 470 134, 911 111,792
93, 952 263,495
4,299
514
89, 653 262,98!
84,310 254,246
5,343
8,735
223,113
601
222,512
214,843
7,669
89,387 122, 343 137,749
120, 572 172, 496 192,680
575
697
138,499 165, 360 119,650
185, 652 217,071 154,582
98, 956 107, 506
121, 413 131, 595
110,162
146,310
91, 234 100,481
113, 002 123, 634
127, 551 128,617 155,270
177,107 175, 083 204,041
110, 849 118, 937 109, 778
419
517
1,000
110.430 117,937 109, 261
105, 922 113,130 104, 042
4,508
5, 219
4,827
112,871
159,809
143,971
1,268
142,703
132, 563
10,140
163, 452 141,431 186, 923 129,337 105, 018 122,337
10,318
720
605
745
742
1, 060
162,710 140.686 185,863 128, 732 104, 298 112,019
104,
968
147, 629 131, 329 175, 742 122, 533 95, 912
7,051
8,386
6,199
9,357
15,081
10,121
138,364
135, 968
2, 396
143,944
141,951
1,992
111,506
108,851
2,655
114,857
112,701
2,157
110.939
108,299
2.641
114,768
112, 636
2,132
126,317
123, 679
2. 638
130,075
127, 962
2,112
126, 593
123,956
2. 637
129, 748
127, 640
2,108
125.252
122,616
2, 635
128,511
126, 387
2,124
124.802
122, 197
2, 605
128, 741
126. 608
2,133
125,055
122, 494
2,561
129,156
127,044
2,113
138,085
135, 529
2, 556
143,111
140, 998
2,112
138, 961
136, 550
2,411
145, 556
143, 571
1,984
139,299
136,890
2, 409
146, 524
144, 546
1,978
138,831
136,423
2,407
146,181
144, 190
1,990
138,519
136,143
2, 375
143,904
141, 936
1,969
1.36
1.54
2.71
2.51
2.58
2.73
3.02
1.43
1.58
2.89
1.40
1.58
2.87
1.46
1.57
2.85
1.64
1.70
2.86
1.72
1.79
2.85
1.56
1.76
2.84
1.51
1.70
2.82
1.42
1.64
2.80
1.31
1.57
2.73
1.29
1.49
2.68
1.29
1.49
2.66
1.37
1.45
2.67
2.62
2.72
2.88
3.32
2.61
2.69
2.86
3.28
2.60
2.68
2.85
3.26
2.61
2.70
2.85
3.26
2.62
2.70
2.85
3.24
2.62
2.70
2.84
3.20
2.62
2. 68
2.81
3.15
2.61
2.68
2.79
3.10
2.54
2.62
2.73
3.01
2.48
2.56
2.70
2.95
2.47
2.54
2.69
2.94
2.46
2.56
2.69
2.96
2.60
2.69
2.84
2.19
2.68
2.93
3.05
2.39
2.68
2.89
3. 03
2.35
2.68
2.87
3.00
2.34
2.68
2.86
3.02
2.36
2.67
2.85
3.05
2.37
2.65
2.84
3.03
2.35
2.64
2.81
2.99
2.33
2.64
2.79
2.96
2.33
2.57
2.71
2.89
2.21
2.54
2.65
2.83
2.12
2.54
2.64
2.80
2.09
2.57
2.65
2.78
2.08
Stocks
Cash dividend payments and rates, Moody's:
Total annual payments at current rates (600 companies)
mil. of dol._ 1,911.77 1.870. 66 1,871.06 1, 871. 62 1, 872.04 1,871.55 1,870.94 1, 868.08 1,880.22 1,886.00 1,900.31 1,908. 54 1,919. 71
941. 47 941. 47
Number of shares, adjusted-.
millions
941. 47 941.47 941.47 941.47 941. 47 941. 47 941. 47 941.47 941.47 941.47 941.47
Dividend rate per share (weighted average) (600 com2.02
2.03
2.04
2.00
2.00
1.99
1.99
1.98
1.99
1.99
panies)
dollars-.
2.03
1.99
1.99
3.21
3.21
3.21
3.11
3.17
2.94
2.95
2.97
2.94
2.95
Banks (21 cos.)
do
3.21
2.93
2.94
1.95
1.97
1.94
1.96
1.94
1.92
1.92
1.92
1.92
1.92
Industrials (492 cos.)
do
1.92
1.97
1.92
2.58
2.58
2.58
2.58
2.58
2.57
2.58
2.58
2.57
Insurance (21 cos.)
do ._
2.57
2 57
2.58
2.57
1.81
1.81
1.80
1.81
1.80
1.80
1.80
1.79
1.80
Public utilities (30 cos.)
_.
_
..do
1.80
1.80
1.81
1.80
2.81
2.64
2.77
2.64
2.81
2.69
2.69
2.65
2.69
Railroads (36 cos.)
do
2.67
2.69
2.65
2.69
Dividend payments, by industry groups:*
149.5
396.3
338.8
358.4
768.2
135. 4
320.3
136.5
396. 2
Total dividend payments
mil. of dol..
347.1
133. 6
119.1
505.9
237.6
65.7
128.6
418.6
129.6
138.2
71.9
Manufacturing
...do
138.2
64.7
246. 3
65.6
69.0
283.4
22.5
.6
3.7
65.3
2.7
1.2
3.2
4.0
1.0
21.2
Mining
...do
2.7
2.0
42.9
29.9
46.7
9.2
19.8
24.0
18.4
7.0
Trade
do
19.6
4.0
26.5
4.5
5.7
26.5
24.2
81.0
29.6
50.4
53.3
87.5
19.1
79.2
Finance
.do
28.7
26.3
12.2
17.1
37.3
63.3
22.5
7.2
29.3
12.3
2.7
19.7
16.4
Railroads
do
4.6
17.2
1.9
7.6
46.2
51.7
33.3
35.6
47.6
39.3
32.0
38.5
36.3
Heat, light, and power
do
29.3
32.0
30.0
29.3
38.4
16.9
13.0
.1
51.7
48.4
.2
48.3
Communications
do
48.2
.2
15.1
.2
.3
15.1
24.7
13.3
1.5
7.7
6.4
8.1
2.4
Miscellaneous
do
6.0
2.9
11.6
2.0
16.1
2.6
Prices:
Average price of all listed shares (N. Y. 8. E.)
98.2
96.9
92.6
100.2
93.5
82.6
89.2
93.0
86.0
78.8
Dec. 31, 1924=100 . . .
103. 2
80.6
80.7
74.78
74.74
76.63
72.36
73.01
62.33
68.70
71.57
65.97
63.03
Dow-Jones & Co. (65 stocks)
dol. per share._
62.19
64.24
76.98
199.
00 199.46
194. 37 205.81
185. 07 190. 22 192. 74
177.96
Industrials (30 stocks)
do .
163. 96 166.16
206. 63 165. 58 167 33
39.94
40.01
42.93
38.26
40.38
32.39
35 45
38. 10
33.95
Public utilities (15 stocks)...
__do._..
32.96
30.85
32.46
43.03
65.58
65. 12
64.30
63.67
55.16
59 61
63.06
62.89
57.11
Railroads (20 stocks).
do
58.64
56.36
60.48
64.77
138.
72
136.88
141.86
135.05
118.
69
130.72
132.
71
136.
03
126.
33
117.
76
New York Times (50 stocks)
.__
do
119.10
121.15
143. 47
226. 00 223. 25 222. 79 233. 85
Industrials (25 stocks)
do
194. 53 189. 97 194. 66 208. 50 215. 06 216. 74 220.67
236. 11 194.09
51.45
50.57
49.88
49.43
42.74
44.39
48.69
44.17
45.56
49.27
Railroads (25 stocks)
do
44.11
47.77
50.84
' Revised.
} Since February 1945 data are from the New York Stock Exchange; except for June and December, data are estimates based on reports for a sample group of firms.
* New series. Data for 1941 for dividend payments are on p. 20 of the February 1944 Survey. Final revisions for 1942 and 1943 will be published later. For revisions for all
months of 1945, see p. S.-19 of the May 1946 Survey.
t Revised series. The price series for domestic municipal bonds was revised in the April 1943 Survey; see p. S-19 of that issue for data beginning February 1942 and an explanation
of the revision; earlier data will be published later. Data through December 1943 for the revised series on prices and yields of U. S. Treasury bonds are shown on p. 20 of the September
1944 Survey; these series include all issues not due or callable for 15 years. Yields through December 1945 for partially tax-exempt Treasury bonds are shown in the April 1946 and
earlier
of the Survey; there were no partially tax-exempt bonds due or callable in 15 years or over after December 15.
Digitized
for issues
FRASER
S-20
SURVEY OF CURRENT BUSINESS
Unless otherwise stated, statistics through 1941
and descriptive notes may be found in the
1942 Supplement to the Survey
1946
May
July 1946
1946
1945
May
June
July
August
September
October
Novem- December
ber
January
February
March
April
FINANCE—Continued
SECURITY MARKETS—Continued
Stocks—Continued
Prices—Continued.
Standard and Poor's Corporation:
Combined index (402 stocks)
1935-39= 100,.
Iudustria;s (354 stocks)
do
Capital goods (116 stocks)
do
Consumer's goods (191 stocks)——.-.
do
Public utilities (28 stocks)
do-__.
Raiiroads (20 stocks)
_
....do
Other issuesBanks, N . Y. C. (19 stocks)..
do.._.
Fire and marine insurance (18 stocks)
do._.
Siles (Securities and Exchange Commission);
Total on all registered exchanges:
Market Value
thous. of doL
Shares sold
.
-..thousands-..
On New York Stock Exchange:
Market value..
.thous. of doL
Shares sold
_.thousands..
Exclusive of odd lot and stopped sales (N. Y
Times)
.thousands..
Shares listed, N. Y. 8. E.;
Market value, all listed shares
mil. of dol_.
Number of shares listed
millions..
Yields:
Common stocks (200), Moody's..
_..percent..
Banks (15 stocks)
do
Industrials (125 stocks)..
do
Insurance (10 stocks)
do
Public utilities (25 stocks).
do....
Railroads (25 stocks)
_
_..do. _.
Preferred stocks, high-grade (15 stocks), Standard and
Poor's Corporation
_
_
..-percent..
129.3
157.2
118.2
120.3
108.8
127.2
101.2
134.5
120.?
121.8
109.9
J29.3
105. 9
144.0
118.4
118.8
107.0
126.1
107.9
140.1
117.9
118. 9
107. 6
128.1
107.2
130. 0
126.1
128.2
117.2
139. 3
110.6
137.5
132,0
134. 5
122.0
145.9
114.4
145.1
136,9
138.7
124.8
150.7
120.8
154.2
139.7
142.2
127.9
154.0
120.2
157.1
144.8
147.5
133.1
161.9
124.0
164.3
143.3
145.8
133.6
159.5
123. 7
159.8
141.8
144.5
130.8
159.2
122.8
153. 6
151.7
155. 9
139.4
170.1
127.5
156.8
118.9
141.8
113.4
129.1
119.4
129.7
117.0
125.7
113.0
122.2
115.0
125. 9
124.6
134. 2
125. 2
136.5
124. 3
133.9
126.1
139.2
121.3
143.8
116.6
141.6
120. 2
144.2
154.3
158. 8
141.7
172.0
1,420,050 1,506,964 1,002,352
58, 373
49, 560
70,838
1,195,164 1,256,140
42,373 I 50,398
841, 308
35,836
943, 404 1,105,307 1,589,145 1,796,416 1,745,468 2,373,016 1,930.314 1,479,956 !l,869,130
72, 096
60,203
90,883
39, 700
46, 334
74, 975 106,471
87.068 112. 908
794. 433
28, 846
922, 584 1,290,513 1,438,500 1,410,635 1,947,730 jl,574,139 1,217,019 1,504,771
47, 002
36, 600
32, 465
47, 709
48, 656
71,761
",2,604
54, 218
30,410
32,024
41,310
19, 977
21, 714
25,135
35, 476
40,406
34,151
51,510
34,093
25,604 ! 31,427
84,043
1,666
62, 431
1, 536
62,637
1,540
61,242
1,544
64,315
1,548
67, 065
1,554
69, 561
1,573
72, 730
1,577
73,765
1,592
78,468
1,614
74,165
1,620
77, 932
1,628
3.4
3.7
3.2
3.0
3.7
4.5
4. 2
3 4
4.1
3.3
4.7
5.5
4.2
3.3
4.1
3.4
4.6
5.3
4.3
3.4
4.1
3.4
4.5
5.6
4.1
3.4
3.9
3.4
4.5
5.7
3.9
3.4
3.8
3.3
4.3
5.3
3.8
3.1
3.7
3.1
4.2
5.2
3.7
3.2
3.6
3.2
4.0
4.8
3.7
3.3
3.6
3.1
4.1
4.8
3.5
3.4
3.4
2.9
3.8
4.5
3.8
3.7
3.6
3.0
4.0
5.1
3.47
3.66
3.67
3.69
3.72
3.75
3.72
3.65
3.59
3.54
3.49
3.45
3.42
3.6
3.6
3.4 ,
3.0 !
4.0
5.1
80,943
1,645
3.5
3.6
3.3
3.0
3.9
5.1
FOREIGN TRADE
INDEXES
Exports of U. S. merchandise:
Quantity
Value
Unit valua
_
Imports for consumption:
Quantity...
___
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...
261
301
115
227
114
do.__
do._.
do._.
130
114
122
106
._.1924-29=100.
__do___
69
.do
.do
107
130
88
109
201
228
113
173
192
111
135
135
100
119
118
166
164
198
192
97
214
210
176
175
99
211
212
101
194
'199
103
125
108
87
126
111
119
103
87
123
108
87
113
98
87
99
139
125
91
107
96
90
128
117
92
135
123
92
77
119
57
104
92
127
123
108
124
118
128
105
128
173
158
206
204
174
203
185
200
100
186
<• 1 0 6
90
106
19, 026
10, 099
15, 433
9,870
106
135
do...
do
106
90
104
79
130
114
103
93
92
104
SHIPPING WEIGHT*
Exports, including reexports
General imports
VALUE §
mil. of lb.
do.__
13,313
10,918
18, 864
10, 380
18, 502
10, 680
IS, 152
11, 276
15, 966
11, 094
17, 665
9,031
16, 009
10,617
17, 820
11, 544
15, 359
9,093
17,610
10,162
16,830
' 9,099
Exports, total, including reexports
-thous. of doL. 851, 245 1,135,486 870, 282 893,150 737, 398 514,351 455, 204 638, 937 736,139 799,982 671,104 815, 063 757, 785
99,597 116, 353 ' 80, 304
Lend-lease*
do
67, 406 790, 293 532, 561 538, 818 413, 398 158, 484
74,850 115, 250 187, 438 130, 375
By geographic regions:
46, 933
38, 765
42, 473
48,335
34,189
46, 616
29, 524 46, 690
Africa
do
37, 796
44, 716
25,183
42, 927
77, 563 111, 282 81,050 110,372 104, 279
127,152 163,411 130, 906 104, 500
Asia and Oceania
do
44, 077
37, 001
82,907
728, 267 434, 697 495, 632 396,128 212, 837 188, 045 265, 455 389, 904 405. 366 320,413 391,675 340, 240
Europe
do
87, 794
83,535 101, 544 106, 641
95,027
112,684 110, 052 108, 820 103,159
Northern North America.
__
do
99,422
96, 427 95, 840
77, 594
67, 328
72, 603
82, 936
63,132
72, 246
59,949
50, 778
Southern North America
do
55. 949
65, 805
70, 287 72. 612
56, 998
82, 098
52, 589
83, 886
80, 200
71,511
66,029
60, 819
47,310
South America
do
57,126
39, 808 80, 935
Total exports by leading countries:
Europe:
78, 324
89, 424
53, 672 ' 73, 250 r 67, 936
29, 096
46, 984
55, 503
41,438
France
...do
40, 656
37, 991
79, 483
7,020
2, 056
1,646
531
1,266
0
804
11
240
Germany
do
168
117
354
35, 369
34,887
42,044
30, 803
15,656
17, 314
26, 563
Italy,,
do
21, 551
15,199
19, 322
9,800
15, 868
30, 340
32, 081
15,166
99, 978 ' 52, 758 r 29,898
Union of Soviet Socialist Republics (Russia)..do
341, 489 131,487 167, 570 137, 441
6, 724
6,165
63, 225
85, 863
United Kingdom
do
290, 250 179, 050 195, 415 138, 322 67,872
42, 394
81, 676
60,013
33, 537 72, 741
North and South America:
82, 216
111,532 103, 814 106, 671
85. 676
Canada
__..do
99,101
92, 285
98,124 103, 680
96,117
93, 797 91, 740
110, 326 114, 661 104, 306
95, 822 105, 545
Latin American Republics, total
.do
96, 670 140, 907 127, 050 146,471 132, 237 154,136 150, 754
1,602
9,029
4,519
3,128
Argentina
__
do
3,082
3, 436
2,372
7,724
5,809
9,198
9, 295 10, 537
19,912
22, 441
22, 442
16, 646
Brazil
do...
19,118
18, 637
11, 863
28, 310
23,872
26, 494
14, 610
31, 373
5,149
5,256
3,585
4,266
5,205
4, 946
Chile
do.__,
3,012
5,763
4,672
6,280
3,765
' 5,401
9,577
12,435
6,940
8,559
8,141
10,708
Colombia*
•_
do
9,602
11,614
6,970
7,209
7,656
15,150
23,491
16, 427 16, 278
17, 875
15,141
Cuba___
do
20, 967
20, 031
15, 656
19, 312 20,479
18,184
23, 670
33,910
23, 965
27, 819
24, 932
31,643
Mexico
do
28, 038
37, 909
25, 021
32, 423
31,681
31, 743
13,425
17.777
13, 904
12, 967
11,919
13,103
Venezuela*
do
18,033
15, 353
8,053
9,381
12, 583
16, 931
' Revised.
§ See note marked " § " on p. S-21.
* New series. Data on shipping weight of exports and imports are compiled by the U. S. Department of Commerce, Bureau of the Census; they represent gross weight of merchandise exports and imports, including weight of containers, wrappings, crates, etc. Data beginning January 1943 will be published later. See p. 32 of the February 1946 Survey
for annual totals for lend-lease exports for 1941-45; complete monthly data will be published later; all supplies procured through lend-lease procurement facilities are shown as lend-lease
exports although, since the program officially ceased to operate at the end of the wai, the recipient nations had, with few exceptions, arranged to finance them prior to the exportation
of the merchandise. Monthly data prior to February 1945 for Columbia and Venezuela will be shown later.
SURVEY OF CURRENT BUSINESS
July 1046
Unless otherwise stated, statistics through 1941
and descriptive notes may be found in the
1942 Supplement to the Survey
S-21
1946
1945
1946
May
May
June
j July
i August
September
October
Novem- Decem
ber
ber
January
Febru-
March
April
FOREIGN TRADE—Continued
VALUE §—Continued
Total exports—Continued.
Other regions:
Australia
thous. of doL
British Malaya
do.._
China
do._.
Egypt
do...
India and dependencies
do...
Netherlands Indies
do___
Philippine Islands
do. _.
Union of South Africa
do...
General imports, total
do...
By geographic regions:
Africa
do...
Asia and Oceania
do...
Europe
do...
Northern North America
do_._
Southern North America
do...
South America
do
By leading countries:
Europe:
France
do...
Germany
do.__
Italy
do.__
Union of Soviet Socialist Republics
do...
United Kingdom
do__.
North and South America:
Canada
do...
Latin American Republics, total
do...
Argentina
do__.
Brazil
do...
Chile
do...
Colombia*
do...
Cuba
do...
Mexico
d o. _.
Venezuela*
do...
Other regions:
Australia
do...
British Malaya
do...
China
do...
Egypt
gyp
India aand dependencies
do
Netherlands Indies
do
Philippine Islands
do
Union of South Africa
do
Exports cf U. S. merchandise, total
do
By economic classes:
Crude materials
do
Crude foodstuffs
do
Manufactured foodstuffs aDd beverages
do
Semimanufactures
do
Finished manufactures
do
By principal commodities:
Agricultural products, total
do
Cotton, unmanufactured
do
Fruits, vegetables and preparations
do
Grains and preparations
do
Packing house products
do
Nonagricultural products, total
do
Automobiles, parts and accessories
do
Chemicals and related products
do
Iron and steel and their products
do
Machinery
do
Agricultural
do
Electrical
do
Metal working
do
Other industrial
-do
Copper and manufactures
do
Petroleum and products
do
Imports for consumption, total
do
By economic classes:
Crude materials
do
Crude foodstuffs
do
Manufactured foodstuffs and beverages
do
Semiman ufactures
-do
Finished manufactures
do
By principal commodities:
Agricultural, total
do
Coffee
do
Hides and skins
do
Rubber, crude including guayule
do
Silk, unmanufactured--.
do
Sugar
do
Wool and mohair, unmanufactured
do
Nonagricultural .total
do
Furs and manufactures
do
Nonferrous ores and metals, total
do
Copper including ore and manufactures..-do
Tin, including ore
do
Paper
do
pe basee sstocks
tcs
N
Newsprint i
t
d
Newsprint
do
Petroleum andd products
do
35,475
38,560
0
0
7, 938
13, 260
57, 653
8,212
6, 299
43, 204
10,901
372,130
20, 279
53,628
36,315
110, 978
74,974
75,956
37, 927
40, 406
38.111
107,594
65, 460
70, 056
0
(a)
1,341
1,803
8.757
9, 986
355,698 359,655
8, 953
0
4,792
8, 431
11, 267
5,193
(•)
9,204
(a)
8,873
8,277
11,412
4,744
2,456
1,044
1,720
120
33, 105 24,146
36, 856
20, 721
4,124
3, 266
3,405
3,969
7,172
12, 678
12, 640
12, 487
6.135
8,274
3,888
7,658
24, 724
31,328
12, 053
23, 390
10, 646
14, 991
'0.119
18, 391
297,187 393,809 ••318,719 383,705
6,460
9,985
334,673
1,429
2,120
6,342
3, 291
7,584
9,471
344,416
19,102
3,954
13,842
9,282
12, 663
16,124
322,419
19, 058
56. 589
42,343
76,449
48,397
79, 584
21,851
46,419
47, 555
73, 627
45, 323
62,412
0
29, 324
43,646
39,159
99, 344
55,125
89,100
21,105
44,377
34, 978
96, 541
64, 204
98, 451
25, 028
63,497
27, 915
77, 899
53, 499
86,835
29, 336
45,140
47, 544
84,269
46,021
92,106
' 24, 833 rl4, 115
r 82,362 ' 78, 793
' 67, 365 45, 613
57, 804
'67,911
«• 51,453 r 48, 418
' 99, 884 73,069
29, 016
84,452
65. 347
70, 874
63,010
92, 964
3,551
5,007
29
4,323
7,765
11, 375
70,356
151, 269
18, 339
33, 426
6, 931
12,002
23, 285
25, 355
10, 021
1,423
1,037
2,263
1,752
1,632
1,927
1,478
49
874
102
511
22
527
555
80
141
1,893
6
429
11
489
14
1,505
10
429
3
170
15
732
13, 692
7,415
7,381
12,089
6,721
6,798
5, 047
8, 958
1, 259
6, 587
2,484
5,444
855
3,434
1,414
11,743
18,030
10, 403
8,597
9,299
1,246
4,107
14, 497
108, 772 104, 694 96,899
141,734 127,197 135,615
11,742
10, 789
14,517
22, 750
17,086
28,086
14,009
10,389
17,074
9, 545
9,512
6, 567
20,655
31,527
28,191.
17,542
22,970
18,731
8,990
8,227
6,840
94, 207
155,312
19,646
26,034
9,393
15, 243
31,249
17, 790
7,952
81,717
75, 786
136,176 131,876
17, 055 20, 579
29, 602
31, 770
8,155 ' 11,930
8, 488
6,068
26,459
16,619
16,831
16,321
6, 633
7, 348
74, 408
117, 364
18,634
24, 270
7, 954
10, 591
14, 562
17,426
7,775
70, 948
101, 902
16, 784
19, 607
7,785
5,999
16,001
18,922
7,402
65,471
145, 296
16,744
41,914
8, 925
12, 101
18, 379
21,462
10, 595
56, 721
116, 290
9,056
23,136
8,221
11, 509
18, 247
17,110
8. 587
65, 510
146, 922
15,124
29, 498
2,440
13, 078
36, 434
19, 704
7,921
10, 503
10,468
0
206
0
179
352
12, 773
5, 723
204
10,983
5,105
3, 575
1,200
10,386
24,481
11,464
9,947
4, 829
1,051
22, 667
14, 402
21, 657
286
9
1
100
243
17
106
161
334
473
592
98
40
945
5, 220 10,273
716, 568 500,137
11, 594
440, 511
10, 038
612, 332
10,418
715,176
12, 42S
780, 571
5,320
650, 438
84, 055 81, 257
54, 315 65, 773
37, 632
67, 596
48, 928 54,466
245, 242 201, 382
88, 227
62,172
84, 067
70, 203
307, 663
70, 407
66, 582
140, 226
67,448
370, 512
94, 743
70, 263
177, 521
73, 397
364,575
90,081
58, 304
134, 964
59, 795
307, 409
112, 969
62, 051
148, 550
68,611
396, 085
164, 720 171,429 153.170 205. 599 247, 577 309, 614
34,082
34, 694
22,012
25, 218
22, 569
28,026
25,618
26,799
16, 947
12,100
20, 525
16, 795
83, 514
69,691
70,765
67, 468
53,898
32, 314
79, 863
4,568
50,716
10,039
24,130
20,494
551,849 328, 709 287,342 406, 733 467, 599 470, 885
24, 073
23, 691
16,135
23, 634
19, 270
65, 434
37,919
27,189
38,028
29,378
35, 278
33, 434
25, 784
41, 931
37, 948
28,328
34,446
35,499
78,715 135, 405 106,475
50, 557
53, 723
77, 277
8,031
12, 761
10, 792
9, 994
11, 070
15, 940
24, 054
9, 669 13, 866
27, 470
19, 699
11,025
13, 943
5,104
6, 531 28, 696
4,369
4,861
44,084
51, 924
26,168
65, 503
25, 297
34,817
2,753
4,042
3, 727
2,544
2, 262
2,828
24, 691
28, 814
35, 034
28, 536
32, 548
32, 227
354,983 329, 271 343, 714 312, 565 279,478 400, 394
250,844
28,954
30, 361
72, 652
41, 595
399, 709
26, 637
35, 676
26, 582
82, 220
10,031
16, 532
9,638
42, 281
3,655
29,642
306, 694
284, 915 253, 679
37, 715
38,622
28, 408
28, 965
57,011
68, 722
30, 496
48, 072
503, 350 487, 483
36, 277
29, 730
44, 329
46, 258
28, 972
38,108
109, 362 100,155
11,172
9,776
20, 365
17, 944
16, 423
13, 344
57, 328
54, 906
2,794
2,418
36, 971
36, 082
373, 362 392, 969
108, 790
58, 558
28, 723
53,015
57, 607
133,863
64, 578
46, 710
64, 946
63, 266
10, 254
9,854
14,195
0
44
99
0
40
297
0
298
465
94
(°)
294
(°)
5,318
14,337
'262
26
5,443
5,486
13,135
815, 831 1.118,680 848, 352 858, 792
88, 630
78,606
20, 543
29,863
92,029
140, 645
79, 345 61, 643
789, 518 586, 211
93,719
31, 593
123,316
64, 240
545,924
224,065 173, 730 221.166
32,638
21,579
36, 220
26,844
24,993
24,818
30, 914
22,117
31, 515
32,052
29,056
14,108
894,615 674,623 637,626
88,424
65,925
56, 253
33,719
43,959
31,960
48, 702 36,360
42, 625
149. 249
99, 788 94, 747
16, 705 15, 699 IS, 594
38,335
23, 618 27,180
6,222
22, 329
12,179
69, 352 46,028
40,377
7,519
4,418
5,235
60,967
95, 757
86, 337
362,080 338, 838 345, 629
106, 581
57, 481
40, 086
74, 841
83, 091
92, 256
55,462
37,093
71, 223
82,805
97,957
56, 308
30, 256
80,682
80,426
147,166
26, 570
4,726
8, 249
86
16,496
17,762
214,914
15, 252
40, 240
17,470
2,784
7,627
12, 828
14, 066
126,602
26, 308
3,491
6,331
130, 213
30,177
4,517
7, 565
217
288
11, 235
14, 041
16, 722
20,099
212, 236 215,416
9, 698 10,107
39,893
47,966
15, 599
23, 958
4,234
4,249
8,949
11,382
12,189
13, 904
14, 473
12,220
24
13,196
11,211
9,112
9,020
6,264
7,469
550
2,182
21, 272
23, 936
1,381
1,873
524
1,552
21, 626
12,435
788, 265 741,162
9,493
1,634
9, 822
9,389
0
9, 319
1,363
38, 370
2,938
13, 504
5,580
18, 798
19, 599
405, 662
38, 742
73,344
51, 952
67, 880
71, 680
80,106
1,094
13,076
388, 841
33,260
0
6,058
11, 255
79,397
102
188
10, 394
359,555
0
174
396, 709
50,975
0
5, 899
21, 998
62,993
73, 902
33. 447
86, 843
57,872
464, 505
90.488
68,848
40, 918
82, 798
71,931
142
526
103,149
56, 384
38, 640
72,959
58,139
156, 232 140,912
43, 065 30, 491
3,829
4,042
7,795
7,869
399
127
17,655
18, 803
22,165
19,165
198, 751 188,359
17, 892
10, 757
35,941
36,807
14, 595
14,104
2, 061
2,520
14, 619 13,975
13,682
12, 539
8,174
13, 629
1,512
12,526
103,
56,
31,
86,
65,
098
599
725
742
549
17,182
95,791
50,995
26, 579
80,127
59, 072
88, 890
42, 443
24, 529
68,171
55, 446
405
157,378
75, 251
32, 551
76, 011
57, 751
106, 574
49,166
125,243
80,190
379, 989
145,426
69, 204
38, 532
67, 638
72,169
139, 516 121,007 108, 799 192, 683 149,201 189, 517 194, 647
30,172- 23, 291
41, 983
18, 205
29,988
35,984
37, 545
3,595
3,152
5, 035
3,185
4,220
4,491
5,580
8, 225
10, 021
14,151
24,116
8,484
22,937
20, 273
196
1,214
156
261
1, 354
862 12.473
5, 644
4, 595
9,019
11, 499
12,913
25,414
14,809
25, 560
20,070
21,787
21,794
29,040
30, 076
30,449
204,197 191,558 170, 680 206, 258 157, 493 183, 846 198, 322
12, 655
9, 599 35, 004
15, 365
13,992
11, 472
17, 273
44, 266
32, 681
23, 267 ' 22,788
14,224
16,389
19,134
13,021
18, 565
11,253
12, 464
2,857
1,997
5,458
2,421
4,158
1,179
4,352
3, 889
3,594
944
19, 587
18,098
16,942
11,691
16,650
9,854
9,700
14, 809
15,129
13,152
14, 996
14, 930
16, 795
18, 073
13, 694
17, 006
11, 708
13,421
11, 095
11, 200
10, 235
' Revised. * Less than $"00.
§ The publication of practically all series on foreign trade included in the 1942 Supplement but suspended during the war was resumed in the May Survey. Export statistics
include lend-lease exports shown separately on p. S-20 (see note, marked "*" on that page), shipments by UNRRA and private relief agencies, and since June 1945 comparatively
small shipments consigned to United States Government agencies abroad; shipments to U. S. armed forces abroad are excluded. Revised 1941-42 figures for total exports of U. S.
.merchandise and total imports are shown on p. 22 of the June 1944*Survey; revised figures for 1941 and later data through February 1945 for other series will be shown later.
'"Monthly data prior to February 1945 for Colombia and Venezuela will be shown later.
SURVEY OF CURRENT BUSINESS
S-22
1945
1946
Unless otherwise s t a t e d , statistics through 1941
and descriptive notes may be found in tlie
1942 S u p p l e m e n t to the Survey
May
J u l y 194<?
May
June
July
Aueust ,' t eFme bp e' r |i
August
1946
Octo
b e r"
Novem- December
ber
January
February
March
A pril
TRANSPORTATION AND COMMUNICATIONS
TRAN SPORTATION
C o m m o d i t y a n d Passenger
Unadjusted indexes:*
Combined index, all types!
1935-39»100.Kxcluding local transit linesf
dn
. do ._
Comroodityf
Passenger!
do
Excluding local transit lines
By types of transportation:
do
do
Passenger
Intercity motor bus and truck, combi ned index
1935-39=100
do
For-hire truck
.
do
Motor bus
do
do
do
do
do
do
Oil and gas pipe lines!
ComTPodit v
Passenger
Waterborne (domestic), commodity!
Adjusted indexes:*
do
Combined index, all types!
do
Excluding local transit iinesf
Commodity
do
do
Passengert
Excluding local transit lines
do
By type of transportation:
do
Air combined index
. _ . . do
Commodity
do
Passenger
Intercity motor bus and truck, comb ned index
1935-39=100..
For-hire truck
. ..
do .
do
Motor bus
.-do
Local transit lines
Oil and gas pipe lines
do
Railroads
do
do
Commodity
do
229
235
217
269
370
235
242
218
291
418
225
232
206
288
423
218
225
197
286
422
209
214
188
272
396
202
205
179
277
395
205
209
184
273
389
195
198
168
283
414
198
200
177
266
'370
201
203
183
260
351
202
204
187
'252
'329
176
174
152
254
331
841
1,095
674
892
1,127
737
898
1,091
771
916
1,093
800
'886
1,031
790
893
1,001
822
835
904
789
775
862
718
738
691
770
773
648
855
'823
' 633
'949
930
663
1,106
225
206
288
186
267
248
394
84
238
211
328
186
264
255
230
444
89
235
200
352
175
254
242
216
438
89
239
205
350
173
251
229
202
437
87
227
201
311
170
216
219
194
415
97
234
220
282
180
1S8
206
178
427
86
222
211
258
178
232
213
185
432
.88
202
183
264
175
230
202
106
472
91
216
202
'260
179
239
200
174
402
99
221
206
270
184
252
201
180
362
104
225
211
271
188
231
'204
189
'321
'94
241
230
280
190
234
153
133
310
93
232
238
218
276
385
233
240
218
283
400
223
229
207
278
392
212
216
194
272
383
201
206
1S2
266
381
196
199
171
282
406
204
208
180
283
411
197
200
172
279
410
203
207
183
269
'380
205
209
188
263
367
207
' 210
192
' 957
'347
179
178
155
255
342
829
1,095
654
863
1,127
689
876
1,091
734
880
1,093
740
851
1, 031
732
879
1,001
798
860
904
831
823
862
797
796
691
865
812
648
920
'841
635
'978
916
663
1,084
230
210
296
185
273
254
233
415
71
233
209
314
187
274
254
231
427
71
231
204
321
183
265
239
218
408
71
230
205
310
181
262
221
198
399
70
216
191
295
172
224
211
186
403
76
225
205
289
179
203
201
170
442
74
218
203
268
178
229
212
180
458
86
201
183
260
170
223
204
170
462
109
229
213
' 280
177
228
204
178
403
124
231
213
292
177
234
206
184
372
128
235
218
291
183
223
209
192
248
234
291
183
231
158
137
323
95
268
152
140
126
193
137
167
120
69
204
151
263
150
140
143
181
144
155
121
68
170
146
273
148
139
136
193
140
157
121
67
171
146
249
133
128
128
167
133
163
115
64
166
132
261
136
127
143
155
125
146
114
66
174
126
215
136
118
109
113
109
158
123
69
134
125
114
139
133
148
167
110
167
145
74
134
133
36
123
127
133
164
106
153
140
74
117
130
29
123
133
148
127
122
152
126
78
118
134
24
113
126
152
107
126
150
158
78
94
121
35
136
139
155
165
134
141
140
78
121
143
115
Waterborne (domestic), commodity..
do
Express Operations
22,952
24,826
22,879
22, 623
23,595
35,115
23,144
22,484
29,141
24, 532
24, 333
23,919
Operating revenue
thous. of dol_51
rio
91
82
58
72
63
80
72
83
64
75
92
Operating income
Local Transit Lines
7.8115
7.8115
7.8115
7.8198
7. 8641
7. 8198
7.8115
7.8198
7, 8641
7. 8069
Fares, average, cash rate
cents.. 7. 8807
7.8198
7. 8641
Passengers carriedt .
- _
thousands 1,630, 373 '1,661,950 '1,610,120 '1,558,370 '1,539,370 '1,458,400 '1,595,440 '1,533,470 '1,563,470 '1,615,570 '1,486,560 '1,669,880 1,631,980
' 120, 800 '117,600 '114,500 '113,100 ' 106,100 '116,000 '111,200 '117,300 '118,600 ' 106, 900 ' 118, 700 118,882
Operating revenues!
thous. of dol..
Class I Steam Railways
Freight carloadings (Fed. Reserve indexe 0:
142
145
132
107
Combined index, unadjusted
143
128
107
132
136
119
137
119
123
1935-39=100.126
143
68
128
109
148
26
155
152
do
Coal
136
133
143
148
191
do .
178
61
Coke
160
111
167
93
166
154
172
114
187
133
143
149
130
Forest products _
108
140
121
143
do
135
115
94
134
140
109
147
do
158
164
111
Grains and grain products
147
176
99
163
144
152
188
158
130
108
99
Livestock
183
103
109
189
127
111
150
• do
97
135
126
120
69
68
72
65
67
Merchandise, 1. c. 1
do
71
75
75
74
82
79
69
74
Ore
Miscellaneous
Combined index, adjusted!
Coal!
Coke!
Forest products
Grains and grain products!
Livestock!
Merchandise, 1. c. 1
Ore!
Miscellaneous!
Freight carloadings (A. A. R.)'.^
Total cars
do
do
do
._
.
do
do
.
_ - do
do....
do
do
do
do
103
125
106
68
62
125
126
114
74
66
123
50
141
' 109
26
95
143
112
143
81
'66
143
4,365
2,616
' 3, 456
3,151
3,982
2,605
thousands
3,240
3,378
4,117
3,207
2,884
2,867
3,546
do
600
855
327
604
635
842
505
688
938
126
685
740
Coal
794
60
51
70
19
57
50
59
34
43
32
66
30
do
Coke
66
174
do.
228
Forest products
159
142
177
208
165
173
205
129
128
146
143
209
274
154
223
237
Grains and grain products
248
287
140
257
223
209
253
207
. . . . . . . . do....
62
69
Livestock
59
52
100
59
99
71
79
73
do
65
96
106
455
516
468
'439
530
524
406
408
456
620
do
Merchandise, 1. c. 1
448
471
544
303
285
53
371
356
25
300
148
50
do
Ore
250
54
34
108
do
1,322
1,967
1,412
' 1,610
Miscellaneous
._ .
1,506
1,745
1,414
1,491
1,785
1,171
1,436
1,273
1,597
Freight-car surplus and shortage, daily average:
11
16
106
13
8
11
Car surplus!
.
thousands
16
98
20
11
18
23
15
5
7
4
7
7
9
1
5
dn
2
9
7
8
Car shortage*
10
Financial operations (unadjusted): X
Operating revenues, total
thous. of doL- 532, 553 '822,568 820, 390 796,129 755, 218 679,178 696,991 661,181 613,691 640, 872 579,136 646, 099 566, 702
399, 215 '625,975 611,110 589, 583 547,629 488,612 492,288 463,682 401,256 453, 399 421, 243 483,776 411,819
Freight
do
Passenger
- do __ 92, 233 138. 935 152,185 150. 734 153, 254 140,146 146,504 145, 555 161,134 137, 602 114,655 114, 562 106, 082
492. 201 ' 547, 454 541,707 549,017 547, 263 621,193 626, 652 548, 550 963,331 490,059 450, 228 627, 890 508, 097
Operating expenses
do
45,132 r 171,481 182, 567 149,985 121, 272
48, 476
13.990
51,310 d812, 788
38, 669
Taxes, joint facility and equip, rents . . .
79, 964
71,104
. . do .
15,900
d
do
86,683
«* 4,780 '103,634
96,115
97,126
43,994
10,128
Net railway operating income
54,439
61,321 4 86,902
70, 848
57, 805 d 20,459
64, 649
51,152
65, 755
62,990
8,849
48, 826 d 20, 993
...do....
20,224
Net income
_
28,589
33, 887
34, 384 * 74,656
' Revised. <* Deficit. ^Datafor June, September, and December 1945 and March 1946 are for 5 weeks; other months, 4 weeks.
•New series. For data beginning 1929 for the transportation indexes, see pp. 26 and 27 of the May 1943 Survey (scattered revisions have been made in the series marked "f" as
published prior to the December 1943 Survey; revisions are available on request). Comparable data beginning January 1943 for freight-car shortages and surpluses and an explanation
of the change in the latter series are available on p. S-21 of the December 1944 Survey.
tSee note marked " • " regarding revisions in the transportation indexes and car surpluses. The indicated seasonally adjusted series for freight carloadings, as published prior to the
October 1943 Survoy, have been revised beginning 1939 or 1940: all revisions are available on request. Beginning in the April 1944 Survey, revenue data for local transit lines cover all
local transit lines, including all common carrier bus lines except long-distance interstate motor carriers; similarly, data for passengers carried, beginning in the May 1945 issue, represent estimated total revenue passengers carried by all local transit lines; revised data beginning 1936 will be published later. Revisions for 1945 not shown above: Passengers carried—
Jan., 1,649,550; Feb., 1,515,200: Mar., 1,706,400; Apr., 1,590,160; operating revenues—Jan., 119,000; Feb., 108,800; Mar., 120,100; Apr., 115,900.
jlJnpublished revisions for 1945: Total operating revenues, Mar., 812,918; Apr., 778,574; freight revenues, Mar., 622,778; Apr., 593,907; operating expenses, Mar., 544,589; Apr.,
531,487; net railway operating income, Feb., 74,841; Mar., 102,004; Apr., 95,065; taxes, etc., Feb., 138,323; Mar., 166,326; Apr., 152,022; net income, Feb., 39,940; Mar., 65,853; Apr., 59,422.
SURVEY OF CURRENT BUSINESS
July 1946
Unless otherwise stated, statistics through 1.941
and descriptive notes may be found in the
1942 Supplement to the Survey
1946
May
S-23
1946
]<)45
May
June
July
August
September
October
Novem- December
ber
January
February
March
635.2
458.7
127.1
555.3
79.9
51.2
651.2
485.8
115. 9
667.4
d 16.2
April
TRANSPORTATION AND COMMUNICATIONS—Continued
1 KANSFORTATION—Continued
Class I S t e a m Railways—Continued
Financial operations, adjusted:f
Operating revenues, total
Freight
_
__
Passenger
Railway expenses
Net railway operating income
Net income
Operating results:
Freight carried 1 mile
Revenue per ton-mile
Passengers carried 1 mile
565.7
405.2
109. 8
561.6
4.0
mil. of dol.
.do_._
do
__..do___
do
do
795.9
598. 5
140. 5
704.1
91.8
57,4
830. 9
626.4
147.0
724.7
106.2
71.2
791.0
597. 2
138.2
695.6
95. 4
61.4
704.9
514.0
136.7
648.2
56.7
22.5
661.1
500.8
140.7
654. 7
36*4
3.7
657.0
453.1
149.7
619. 6
37.4
3.3
668.5
465. 0
152.2
607.8
60.6
29. 7
*86.0
*56.0
654.6
459.9
143.6
566. 7
87.9
60.9
d/4-8
d 24.6
mil. of tons.
cents.
millions.
68,647
.976
7,347
66, 598
.977
8,015
64, 732
.971
8,185
60, 509
.904
8,201
56, 058
.928
7, 567
53,156
.989
7,963
53,492
.932
7, 956
49,843
, 867
8,572
52,076
.940
7,454
48, 735
.935
6, 079
56, 510
. 924
5,955
39, 841
1.101
5,472
9,629
3,649
5,980
8, 928
3, 403
5,525
8, 359
3, 5H0
4,829
7, 506
3,123
4,383
7,587
2,776
4,811
7,579
2,359
5,220
6,061
1,791
4,270
6,378
1,722
4,656
5,844
1, 555
4,289
G, 483
1,735
4,748
6,199
2, 029
|4,170
19,410 r 20, 244
7,677
6,710
713,382 ' 753,147
331, 639 '343, 928
19, 644
4, 939
714,562
329,276
20, 888
6,031
707,190
353, 527
20,103
5,109
723, 247
328, 600
19, 640
6,273
647, 518
308, 736
20,452
5,746
727, 279
331,056
19, 783
5,429
723,187
332, 315
628.3
423.2
158.1
674.0
Waterway Traffic
Clearances, vessels in foreign trade:J
Total, U. S. ports
Foreign
United States
thous. net tons..
do
do
9,612 ,
3, 346
6,266
Travel
OnornMcn^ on scheduled air lines:
Miles flown
...thous. of miles..
17, 607
Express carried
thous. of lb._
8, 309
Passengers carried
number..
612,912
Passenger-miles flown
thous. of miles..
289, 846
Hotels:
3 95
3.76
Average sale per occupied room
dollars..
93
90
Rooms occupied
percent of total-235
194
Restaurant sales index
avg. same mo. 1929 = 100..
Foreign travel:
15, 674
U. i>. citizen?, arrivals
^.—number..
9,837
V. S. citizens, departures
do
935
Emigrants
..__do
3,674
Immigrants
——do——
16.043
Passports issuedcf ------do
68,903
National parks, visitors
number.. 22,091
Pullman Co.:
Revenue passenger-miles
thousands..
2,258,277
Passenger revenues
thous. of dol..
13,169
COMMUNICATIONS
Telephone carriersil
Operating revenues
thous. of dol_.
176,488
S tat ion revenues
do
92,955
Tolls, message
do
69,121
Operating expenses
do...
113,330
Net operating income
do
20,301
Phones in service, end of month
thousands.
24,666
Telegraph and cable carriers:!
Operating revenues, total
tbous. of dol.
17, 575
Telegraph carriers, total
do...
16,319
Western Union Telegraph Co., revenues from
cable operations
thous. of dol.
961
Cable carriers
_
.do.-.
1,256
Operating expenses
do
13,136
Net operating revenues
do—.
2,476
Net income trans, to earned surplus
do...
1.196
Radiotelegraph carriers, operating revenues
do
1,851
18,042
7,973
659, 861
306,873
23,164
24,108
7, 232
8, 204
917, 945 1,057,641
4C8,201 463, 294
4.01
91
212
3.99
87
207
4.28
92
229
4.16
93
211
4.19
95
204
4.31
94
223
4.12
88
198
4.17
92
204
4.12
93
205
3.97
95
210
4.38
94
226
15, 419
10,992
1,149
3,734
15,393
138, 586
20,281
12,401
935
3,677
9,275
289,094
18,1°3
12,881
1,879
4,065
9,993
449, 111
14, 865
11, 648
2, 025
4, 380
9,056
478,258
17, 304
13,649
1,499
4,608
21,416
327, 843
16,079
14,185
1,838
4,421
12,913
132, 316
18, 740
17, 556
1,289
4, 644
11,972
62,090
21,080
20,865
1, 027
5, 604
10,708
78, 221
27, 340
26,795
859
9,575
8, 667
99, 338
35, 092
25,912
1,138
18,047
12, 986
12P,250
' 15,047
187, 377
2,319,667 2,266,512 2,361.250 2,289,324 2.422.016 2,526,314 2,419,033 2,563,744 2,082,683 2,196,055 1,899,120
10, 928
13,520
12,498
13, 217
12,855
13,488
11,084
12, 094
12,120
13,214
12, 316
187.610 179,327
100, 993
98, 822
72, 357
66,340
130.473 ' 129, 442
27, 962
23,548
25, 747
26,067
187,727
101,773
71, 7G2
141,197
21, 226
20, 435
176,637
92, 652
69,816
115, 244
19,916
24,703
175.677
91, 695
69,617
118,510
19,015
24,761
179, 424
92, 323
72, 468
120, 667
21,058
24, 794
174,487
92,141
67,918
114,666
20, 518
24,834
184,380
96, 700
73,493
128. 495
22,353
24,994
181,325
96, 523
70,768
125, 329
23, 744
25,184
187,183
99,127
73.711
138,955
53, 074
25, 446
17,511
16,035
16,694
15,419
19, 224
17, 947
17,033
15,897
18. 359
17,099
17, 366
16,197
19,191
17,667
14,754
13, 583
13,891
12, 777
15,815
14, 496
803
1,476
13,265
2,335
1,463
1,704
737
1,275
13,194
1.635
. 519
1,772
741
1,277
15,371
1,879
863
1,971
708
761
1,260
15,166
1,419
654
2,031
750
1,169
19,187
d
S, 685
*6,81t
1,966
961
1,524
14,789
2,155
2,509
2,274
507
1,171
14,877
d 2, 001
d
2, US
1,908
587
1,114
13, 654
d 1,602
d 2,075
1,787
712
1, 319
14,514
d 558
d?95
2,119
1,137
17,268
** 6,066
t, m
1,952
16. 064
14, 807
678
1,257
14,078
70
d 386
2,077
CHEMICALS AND ALLIED PRODUCTS
CHEMICALS
Selected inorganic chemicals, production:*
Ammonia, synthetic anhydrous (100% NH3)
short tons.. 34,511
48,244
45,072 47,431 46,787 42,685
38,292 45,298 45,557 41,384 39,738
44,271 43,358
Calcium arsenate [100% Ca*(AsO4)2]
thous. of lb__
3,496
2,493
5,157
4,582
2,227
906
1,304
1,403
(i)
952
1,139
1,610
3,256
Calcium carbide (100% CaCj)
.short tons.. 36,761
64,805
63,134
62,480
55,090
45,384
47,353 44,610
41,364
45,192 40,316
44,460
40,014
Carbon dioxide, liquid, gas and solid (100% C02)O
thous. of lb__ 75,176
83,246
84,361 88,758 88,566
79,983
68,810
57,923 51,427
56,078 54,169
65,337 '75,334
Chlorine
short tons.. 89,960 110,332 106,699 105,189 97,659
89,602 89,392
91,461 94,784
89,707 84,741
96,439
94,865
Hydrochloric acid (100% HC1)
do
26,331
37,152 37,348
35,891 33,839
30,552
29,691 30,026
28,990
26,822 26,791
26,805 '26,867
Lead arsenate
thous. of lb__
7,956
7,892
5,485
3,802
4,723
2,313
2,869
4,225
5,514
6,421
7,567
8,755
8,665
Nitric acid (100% HNOa)
short tons.. 32,538
41,757
39,662 38,944
37,088
32,025
34,262 31,352 33,033 34,769 31,123
30,899
31,311
Oxygen
mil. cu. ft..
835
1,333
1,234
1,190
978
893
916
873
891
716
606
951
885
Phosphoric acid (50% H1PO4)
shorttons.. 62,674
58,981 61,438
59,957
57,952
63,941 61,500
70,409
68,231 68,452 69,525
74,600 ' 70,740
Soda ash, ammonia-soda process (98-100% Na2 CO3)
short tons.. 303,174 388,044 358,782 358,217 363.802 333,453 381,468 355,639 379,786 387,012 342,625 380,489 342,749
Sodium bichromate
do
7,096
6,955
5,951
6,244
6,537
6,561
7,347
6,999
6,769
7,735
7,134
7,777
7,837
Sodium hydroxide (100% NaOH)
do____ 139,290 169,878 160,435 157,644 152,318 139,969 146,374 148,194 153,395 154,349 143,248 160,009 151,332
Sodium silicate, soluble silicate glass (anhydrous) •
shorttons.. 29,198
43,955
43,733 32,060
34,806
24,864
27,321 28,781 29,276
34,524
32,494
32,182
29,914
Sodium sulfate, Glauber's salt and crude salt cake
shorttons.. 45,150
67,322
61,559
62,519
61,464
57,378
66,410
67,047 60,022 42,811 40,932
43,856 M l 115
Sulfuric acid (100% HjSO 4 )e
d o . . . . 780,702 '868,435 '822,025 '841,747 '782,594 '677,053 '726,291 --705,953 '745,554 743,904 665,177 764,996 804,285
Alcohol, denatured:!
Consumption
thous. of wine gal
16,119
47,245 37,393 37,088
32,530
26,113
19,012
15,473
12,753
11,486
10,817
13,530
15,717
Production
..do
13,852
46,618
40,893
36,774
31,786
26,555
19,261
13,060
12,313
11,617
10,017
11,894
13,229
Stocks
do
10,007
18,170
21,657
21,307
20,539
21,031 21,257
18,844
18,396
18,549
17,802
16,224
13,306
r
Revised.
<* Deficit.
d"Includes passports to American seamen.
1 Not available for publication.
5 Data relate to Continental United States; the original reports for recent years include also data for 3 companies operating outside of the United States.
§ Compiled on a new basis beginning 1943; see April 1944 Survey for 1943 data and sources of 1942 data on the new and the old basis.
©Data have been shown on a revised basis beginning in the March 1945 Survey.
©For 1944 revisions see August 1945 Survey. Revisions for 1945 not shown above: Jan., 853,434; Feb., 805,652; Mar., 859,931; Apr., 834,028.
• Data were revised in the September 1945 Survey; see note in that issue for a description of the series.
JData continue series published in the 1942 Supplement but suspended during the war period; data for December 1941-February 1945 will be shown later.
fData have been shown on a revised basis beginning in the June 1944 Survey; revisions for January 1937-February 1943 are available upon request.
•New series compiled by the Bureau of the Census; see pp. 23 and 24 of the December 1945 Survey for data through December 1943 except for carbon dioxide, sodium silicate,
calcium
arsenate, and lead arsenate; data beginning 1941 for these series will be shown later.
S-24
SURVEY OF CURRENT BUSINESS
Unless otherwise atated, statistics through 1941
a n d descriptive notes m a y be found in t h e
1942 S u p p l e m e n t to t h e Survey
1946
May
July 1946
1945
May
June
July
1946
Scp
August 1, t e m b -e r
August
i
;
Oct
°-
ber
Novem- December
ber
January
February
March
April
CHEMICALS AND ALLIED PRODUCTS—Continued
CHEMICALS -Continued
Alcohol, ethyl, incl. spirits and unfinished spirits: •
Production, total (net)
thous. of proof gal.
Ethyl alcohol
_
...do...
Spirits and unfinished spirits ^
do...
Stocks, end of month, total..
do...
Ethyl alcohol, total
do...
In industrial alcohol bonded warehouses..-do___
In denaturing plants
do...
Spirits and unfinished spirits
do__.
Withdrawn for denaturing
do...
Withdrawn tax-paid, ethyl alcohol.
do...
Glycerin, refined (100% basis):*
High gravity and yellow distilled:
Consumption
thous. of l b .
Production..
_
.do...
Stocks
do...
Chemically pure:
Consumption
_
_
do
Production
do...
Stocks
.
do
Other selected organic chemicals, production:
Acetic acid (synthetic and natural)*
.do...
Acetic anhydride*
do.__
Acetyl salicylic acid (aspirin)*
do...
Creosote oil*
thous. of gal.
Cresylic acid, refined*
thous. of l b .
Ethyl acetate (85%)*
do...
Methanol: §
Crude (80%)
thous. of gal.
Synthetic (100%)
do...
Phthalic anhydride*
...thous. of l b .
25, 273
23, 692
5, 946
143, 979
113,169
36, 369
76, 799
30, 810
25, 643
3,809
99, 907
58, 001
45, 615
146,050
123, 541
39, 088
84, 454
22, 509
86, 605
1.558
6, 440
5, 687
18,297
7,294
8. 189
29, 449
8,135
8,920
26,998
9, 240
5.999
22, 564
8,799
7, 323
19, 876
7,229
6,494
18,109
8,451
7, 544
17, 562
6,395
5,612
15,901
5,825
5, 234
15,135
6,010
5,010
15,864
5, 588
5,323
17, 591
6, 431
5, 373
19, 347
5,800
8,024
20, 881
7. 789
8,114
27, 997
7,757
6, 695
28,103
7,387
4.599
27, 634
7,834
5. 850
22, 282
7, 523
7. 079
22, 271
8,142
7,170
19, 067
7,143
7. 750
18, 346
6,109
6, 391
17, 596
6,336
7,636
16, 941
5,446
7,741
19, 028
8, 992
IS, 631
27. 509
40, 845
16,073
2,273
9,929
26, 349
46,414
883
13,615
2,077
7, 902
2,3, 822
42, 729
815
12,118
2, 539
10, 970
20,812
37, 789
962
12.198
2,431
6,849
18, 478
38. 535
1,011
13, 550
2,133
7,329
22, 063
46, 241
966
13, 747
2, 573
24, 322
44, 294
910
12, 059
2,108
7,110
22, 983
45, 733
986
11, 755
1,744
6,421
23,143
38, 330
934
8,443
1,517
6,412
26, 746
44,027
976
13, 295
2,465
7,751
342
0,715
12,330
313
6, 012
11,802
23, 356
43, 867
814
12, 892
2, 375
9,456
291
6, 318
10,934
298
6,169
11, 284
243
6,112
9,507
278
4, 736
8, 066
253
5, 680
7,881
295
6,823
8, 555
264
7,237
9,061
231
6,259
7,094
248
6,991
9,777
192
148
77, 847 141, 982
7,265
2, 633
62, 293 123, 099
5, 851
4,753
83, 985 91. 584
79, 219 84,146
47, 016 58,160
4,392
0
984
0
292
86, 647
3, 581
66,878
5,705
70, 738
66, 492
22, 861
732
0
1.650
72, 079
1.650
62, 568
260
87, 581 67, 213 75, 740 39, 925 31, 780 28, 016 28, 464 29, 516 SO, 982 32, 396
50, 777 47, 275 34, 360 26, 737 22,184
49,166
23, 782 23,514
27, 277
23,823
6.621
7,461
40, 792 17, 739 31,122
6,586
6, 787
7,462
6, 769
8, 448
159,855 157, 814 162, 504 161,357 153, 632 148, 261 134, 780 148, 738 152, *M 151,066
141.200 133, 508 136, 785 139. 586 132, 015 126,190 111,493 122, 891 123,951 121, 654
42. 682 40, 830 42. 764 47, 556 43, 635 40, 569 42, 030 40, 320 43,131
37, 570
98, 518 92, 678 94. 021 92,029
88,380
85, 621 69, 463 82, 571 80, 821 84,083
18, 657 24, 306 25, 719 21, 771 21, 617 22, 071 23, 287 25, 847 28,603
29,412
59, 233 48, 653 35, 515 24, 070 37, 965 21, 393 18,532
76,149
22, 081
68,014
3,103
5,118
2,096
3,023
4,153
4,561
3,297
4,080
3,401
4,276
FERTILIZERS
Consumption, Southern States
thous. of short tons..
404
Exports, total ®
..long tons..
Nitrogenous <g>
do
Phosphate materials ®
do
Prepared fertilizers ®._
do
Imports, total <g>
do
Nitrogenous, total ®_
._
do
Nitrate of soda ®
dc
Phosphates ®.
__do
Potash ®
..do
Price, wholesale, nitrate of soda, crude, f. o. b cars, port
warehouses 0
dol per lai b .
1.650
Potash deliveries
short ton?..
Superphosphate (bulk) :f
Production
do
687, 969
514,989
Stocks, end of month.
d"
431
163
73, 299 66,197
2, 951
3,594
59, 212 55, 595
4,352
1,316
202, 875 139, 392
185, 969 118.304
142, 653 80, 068
3,675
13, 054
1,722
0
1. 650
53, 801
1. 650
83, 465
657, 575 671,074
733, 286 803,939
1. 650
67, 444
666,848 694,908 651.140
836, 580 884, 061 914,147
379
370
95, 257 115,015
5,847
25, 709
75, 291 79, 026
4,021
2,757
79, 615 65, 489
68, 543 57, 091
25, 777 14, 556
7,538
4,444
0
0
552
1,136
1,365 i 1, 309
98,148 85, 688 114, 520 83, 304
32,448
10, 436 28, 454 12, 347
55, 026 65,032 74,787
63, 789
362
558
716
348
69, 447 120, 210 84,361 128, 051
56, 672 100,919
66, 493 112, 380
22, 437 65, 227
13, 030 47,862
971
8,958
10, 438
4.454
3,929
1,350
200
3,000
1.650
1.650
1.650
1.650
1. 650
1.650
95, 769 73, 577 85, 314
66,158 68, 408 81,185
732, 814 718, 023 656, 425 717, 426 702, 564 716, 775
897, 532 898, 541 904, 994 915, 458 847,990 675,130
MISCELLANEOUS
Explosives (industrial), shipments
thous. of lb._ 43, 584 37, 023
Gelatin: cf
Production, total*
do
3,345
3,825
2,113
2,271
Edible
....do....
Stocks, total*
do
6,321 '5,612
2,695
2,523
Edible
.do
Rosin (gum and wood):
Price, gum, wholesale " H " (Sav.), bulk
6.76
dol. per 1001b_.
5.81
Production*
drums (520 lb.)-Stocks*
__
do
Turpentine (gum and wood):
.84
Price, gum, wholesale (Savannah)t
dol. per gal..
Production*
bbl. (50 gal.)..
Stocks*
.do
Sulfur:*
Production
long tons—
319,976
3,838,084
Stocks
do
38,942
37,370
37, 876
38, 205
38, 795
37,543
34, 745
35,935
36, 268
3, 233
2,285
5, 693
2,526
2,272
1,559
5,261
2,322
2,788
2,183
4,736
2,139
2,595
2,120
6,136
2,343
3,452
2,292
4,561
2,187
3,304
2,257
4,823
2,367
3,350
2,142
5,330
2,459
3, 383
2,057
5,413
2,346
3,612
2,439
5,647
2,505
5.81
376, 750
383, 979
5.81
6.52
6.76
397, 731
473,146
6.76
6.76
6.76
375, 501
479, 890
6.76
6.76
.77
142,078
165, 326
.80
.82
.84
.84
139, 046
184, 777
121, 099
150, 098
38, 069
r
r
3,919
2,541
6,139
2, 763
6.76
302. 054
388, 682
.84
85, 908
100, 749
309, 570 313,391 346, 349 341, 060 348, 365 323, 738 331,843 318, 722 286,316 281, 490
3,776,738 3,698,357 3,711,311 3,682,511 3,858,728 3,916,334 4,003,917 4,060,461 4,063,286
OILS, FATS AND BYPRODUCTS
Animal, including fish oil:
Animal fats:J
Consumption, factory
.thous. of lb._ 117,782 140,148 123, 734 98, 309 119, 747 106, 522 116, 707 111,115 95, 487 112,173 117,133 115,984
Production
do
201, 757 200, 604 189,914 175, 763 177, 093 155, 031 164, 949 232, 665 258, 941 236,879 291,151 208, 385
204, 982 261, 768 230, 218 239, 521 208, 952 189, 392 179,667 200,043 231, 504 255,195 274, 512 204, 817
Stocks, end of month
do
Greases :j
50,012
49, 933 60, 806 55,826
52,016
54,953 49, 729 43, 590 35, 557 40, 558 40,348
40,203
Consumption, factory
do
47, 633 46,829
37, 569 41,127 44, 516 45, 673 48,141
44,117
41, 455 41,005
53, 213 49, 360
Production
__
do
92,996
81,423
95,171
73, 812 71,615
78, 392 71, 094 66,052 65, 397 72,316
91,807
Stocks, end of month
do
77,866
r
Revised. * Excludes data for M ississippi which has discontinued monthly reports; May 1945 figure excluding this State, 390,000, February 1946,1,272,000.
O For a brief description of this series see note in April 1946 Survey. tSee note marked "+" on p. S-25.
% Includes production for beverage purposes, reported separately through October, as follows (thous. of proof gallons): May, 96; June, 112; July, 14,685; Aug., 6,042; Sept.,
4,414; Oct., 6,954. These amounts and total production shown above after October are included also in data for production of distilled spirits shown on p. S-26.
§ See note in the April 1946 Survey with regard to differences between these series and similar data published in the 1942 Supplement to the Survey.
• Data for ethyl alcohol, except stocks at denaturing plants, continue data published in the 1942 Supplement to the Survey but suspended duringthe war period; stocks at denaturing plants were not reported prior to 1942. The data for spirits and unfinished spirits are production at registered distilleries and represent primarily production for industrial purposes
under the acts of January 24 and Mar. 27,1942, but include amounts produced for beverage purposes (see note marked \). Total production of ethyl alcohol and spirits shown above
represents net amount after deducting unfinished spirits used in redistillation. Tax-paid withdrawals of spirits and unfinished spirits are not shown here since they are included in
total tax-paid withdrawals of distilled spirits shown on p. S-26.
cf Data for gelatin cover all known manufacturers; the series for edible gelatin continue data published in the 1942 Supplement; the totals include technical, pharmaceutical and
photographic in addition to edible gelatin; data prior to March 1945 will be shown later.
<g> Data continue series published in the 1942 Supplement but suspended during the war period; data for October 1941-February 1945 will be published later.
*New series. For a brief description of the series on glycerin, see note in November 1944 Survey. For data through December 1943 for the other indicated chemical series, see p. 24
of the December 1945 Survey. Data for production and stocks of rosin and turpentine are from the Department of Agriculture and represent total production of gum and wood
products and stocks held by producers, distributors and consumers. These series have been substituted for data formerly shown for three ports, which have declined in importance;
data beginning in li..'42 will be published later. Data for 1940-43 for sulphur are shown on p. 24 of the May 1946 Survey. See note marked ' V regarding the new series for gelatin.
t Revised series See note in November^ 1943 Survey regarding change in the turpentine price series beginning in the April 1943 Survey and superphosphate beginning
September 1942.
SURVEY OF CURRENT BUSINESS
July 1946
Unless otherwise stated, statistics through 1941
and descriptiye notes may be found in the
1942 Supplement to the Survey
1946
1946
1945
May
September
May
June
July
August
S-25
October
Novem- December
ber
January
February
March
April
CHEMICALS AND ALLIED PRODUCTS—Continued
OILS, FATS, AND BYPRODUCTS—Continued
Animal, including fish oil—Continued.
Fish oils:*
Consumption, factory..
_thous. of lb_. 14. 525
2,173
Production
__
-_ do
55,484
Stocks, end of month
do...
Vegetable oils, total:
266
Consumption, crude, factory
mil. of lb_.
Exports^1
thous. of Reimports, totalc?-.
do
Paint oilsd*
do
All other vegetable oilscf
do
261
Production
mil. of lb_.
Stocks, end of month:
546
Crude
do
499
Refined
do
Copra:
17, 488
Consumption,
factory!
short
tons_.
ImportscT1
do
15, 432
Stocks, end of inonth^
do
Coconut or copra oil:
Consumption, factory:!
Crude
thous. of lb__ 19,695
7,161
Refined
...do
Importscf
do...
Production:
22, 353
Crude!
do...
8,504
Refined
__.
do
Stocks, end of month:!
108,493
Crude
do
5,475
Refined
do._.
Cottonseed:
103
Consumption (crush)..
thous. of short tons.
Receipts at mills
..do...
Rtocks at mills, end of month
do
Cottonseed cake and meal:
Production
_
.short tons..
Stocks at mills, end of month
do
Cottonseed oil, crude:
Production
thous. of lb_Stocks, end. of month
do
Cottonseed oil, refined:
Consumption, factory!
do—
In oleomargarine
do
Price, wholesale, summer, yellow, prime (N. Y.)
dol. per lb_
Production
_
thous. of l b .
Stocks, end of month
do...
Flaxseed:
Importscf
thous of b u .
Duluth:
Receipts
_
_
do__.
Shipments
do...
Stocks
_.
do.__
Minneapolis:
Receipts
do...
Shipments
do...
Stocks..
do...
Oil mills:!
Consumption.
_
do...
Stocks, end of month
do
Price, wholesale, No. 1 (Minneapolis)__-dol. per b u .
Production (crop estimate)
thous. of b u .
Linseed cake and meal:
Shipments from Minneapolis-..
thous. of l b .
Linseed oil:
Consumption, factory!
do__.
Price, wholesale (N. Y.)
dol. per lb.
Productiont
thous. of lb_
Shipments from Minneapolis
do...
Stocks at factory, end of month
do...
Soybeans:
Consumption, factory!
..thous. of bu .
Production (crop estimate)
...do...
Stocks, end of month
do
Soybean oil:
Consumption, factory, refined!
thous. of lb__
Production:!
Crude
do...
Refined
do...
Stocks, end of month:!
Crude
do.__
Refined
do...
Oleomargarine:
Consumption (tax-paid withdrawals) §
do
Price, wholesale, standard, uncolored (Chicago)
dol. per lb_
Production!
thous. of lb_
Shortenings and compounds:
Production
do...
Stocks, end of month
do___
Vegetable price, wholesale, tierces (Chi.)._dol. per l b .
T
24, 444 30, 549 28,114
40,146
37, 324 16,955
128,806 141,017 132,246
22, 577
6,105
118,149
19, 493
3,718
97,468
16,072
903
83,822
16, 224
648
73, 676
14, 931
831
60,842
363
9,175
23, 727
10,076
13, 651
379
387
22,902
5,034
1,198
3,836
431
345
3,301
37,253
23,722
13,532
374
369
6,829
2,906
1,102
1,804
407
365
3,490
22, 283
19,149
3,134
327
335
14,103
17, 392
9,445
7,947
318
330
9,915
13,492
5.077
8,415
287
695
352
705
359
725
413
740
463
724
669
535
'604
544
12,711
10, 364
9,093
8,762
9,415
9,947
15,417
8,428
3,483
2,840
1,437
2,083
8,591
8,943
11,426
8,925
9,393
15,965
6,122
647
548
13,921
1], 724
12,180
18, 871
22, 788
13,889
9,170
3,902
217
11,649
4,357
5,745
10, 859
5,086
2,717
13,264
5,624
0
12,545
4,671
594
11,490
4,307
0
12,919
5,323
229
14,243
4,804
133
12, 748
4,179
0
2G,334
7.758
546
11,938
5,515
7,195
2,620
16, 364
4,498
11,236
4,446
20,123
5,395
3,597
4,635
3,679
17, 557
L 3, 371
23, 988
8,737
119,025
1,914
119,359
2,208
122,819
1,479
135,258
1,993
138, 510 145,896
2,038
1,983
133,713
2,199
125,169
2,038
11, 430 12, 016
5,043
4,689
120, 694 114,103
1,882
1,505
120,045
1,832
119.090
3,125
9
147
228
'36
397
137
22
283
115
52
220
122
109
206
563
789
1,059
443
328
944
285
133
482
228
f 136
370
163
33
241
44, 252
45, 738
104,449
r 68,595
72,266
53,513
52,258
54,442
40,069
251, 625 194, 227 203, 319 125, 542 100.544
52, 741 52,827
55, 571
61,072 56,001
48, 616
32, 626
43,994
* 72, 484
r 95. 547
44,498
65,019
37,760
55,121
37,247
36,980
76,010
50,036
84, 768
108,405
23,005
87,141
19,816
73,693
21,982
88, 277
20,123
74,709
17,808
76,748
18,650
.143
48,258
353, 322
.143
r 94, 716
312.574
.143
67,159
295,806
.143
43,492
275,625
.143
53,043
234,177
.143
55,086
207,918
.143
108,363
232,457
22, 316
1,620
112,043
19,701
11,263
103,749
19, 069
17, 535
98, 200
25,052
29,424
115,115
356
23,621
22, 706
3,684
19,022
317
292
6,524
37, 235
1,525
35, 710
257
242
10,892
11,048
4,895
6,153
233
289
8, 555
59,347
25,413
33,934
258
270
5,766
34,730
20,891
13,839
295
726
448
692
442
427
391
12,440
6,520
16,969
9,138
6,576
10, 277
5,496
4,570
12,712
14,814
6.717
7,935
13,859
5,127
4,761
16,014
6,251
(0
0)
246
468
427
550
955
833
108,887 240,449
49, 561 56,375
()
462
152
634
171,060 176, 006 137,976 143, 349
93, 325 109,820 114, 477 128,166 105,255
64, 008
15,042
84, 004
18, 794
.143
.143
150, 092 119,752
305, 238 359,143
.143
112,067
386,122
73, 760
16,482
72, 347
91. 650
50, 834
63, 563
84, 568 '77,416
84, 414
18, 034 18, 491 16, 542
.143
.143
.143
109,495
77, 837 69, 571
406, 486 404, 645 394, 368
432
248
281
23
207
0
123
592
286
179
114
751
496
135
232
173
78
222
28
173
108
93
70
74
884
545
428
2,901
1,247
2,082
2,566
2,417
2,231
496
1,336
1,175
116
17
1, 274
40
0
1,315
175
210
1,279
142
288
1,134
435
98
223
432
113
109
321
198
61
1,649
155
1,042
7,251
588
2,489
6,003
866
5,033
1,670
1,218
5,026
783
. 165
4,594
362
68
4,078
323
248
3,355
638
225
2,576
365
210
1,691
2,046
2,495
3.27
1, 566
2,032
3.11
1,384
1,826
3.11
1,368
1.682
3.11
1,878
2,041
3.1Q
2,626
4,955
3.10
2, 865
5,583
3.10
3,606
5,546
3.10
3,239
5, 751
3.10
3 36,688
2,777
4,260
3.10
2,317
2,636
3.10
2,015
2, 846
3.10
2,091
2,306
3.10
28,200
36, 600
17,940
14, 400
41,580
54,840
49, 920
35, 220
32, 340
29, 220
30, 960
34,080
41,190
.155
30, 904
17, 220
187,973
39, 218
.155
27,531
20,340
159,854
37,547
.155
28,214
15,180
145, 377
46, 888
39,934 40,486 49, 687 42, 881 39, 069 44, 257 43,054
.155
.155
.155
.155
.155
.155
.155
.155
40, 622
38, 245 52, 742 56, 769 71,872 63, 438 56, 016 45,749
19.380 27, 360 35,820 28,800 26, 2S0 27, 720 24, 600 26, 580
151,035 168,695 167, 526 171,872 180,056 173,693 152,812 138, 748
9,912
14, 040 13, 860 16, 310 15, 319 15, 241
12, 536 12,083
3 191,722
12, 886
3,547 26,778 50, 834 46, 255 42, 777 39, 371 37.249
51,297
.155
42,129
23, 880
r
132,346
48, 938
.155
41, 371
117, 589
13, 984
15,101
13,257
12,809
27, 799
30, 743
26,387
21,319
94, 936
87, 351
78,617
66,682
90,060
124. 587
114,395
133, 501
116,742
118,263
98,123
114,508
84,644
111,342
111,576
148, 334
111, 749
90,872
88,014
97, 241
99,994
120,091
105,975
102, 607 104,094
112,582 105,165
r 41, 658
31,383
37,846
39, 785
.165
.165
54, 325
.165
48,621
165
53,693
.165
50,199
123, 847
46, 233
.165
130, 665
44, 460
.165
105,160
46,026
.165
98,176
42,349
.165
128,078
45,857
.165
86, 344
92,048
34, 556
99, 626
101,132
88, 478
90,566
124, 251 118,146 .143,436 135,103 134,747
88, 675 91, 396 112, 617 121, 887 119,199
125.990
112,155
94, 726
86, 564 116,912
92,562 73,395
46,438
14, 214
34,087
41, 063
81,680
90, 770
86,023
133, 937 140, 352 149, 410 150, 589 153,079
79, 522 95, 906 110.079 114,637
71,090
43, 008
47, 644
43, 636
45, 014
41,837
.165
.165
.165
.165
.165
44, 443 48, 099 45, 503 46, 677 43, 495
115,535 137, 338 121, 930 101,867 118,797 119, 343 108, 434 113, 829
39, 551 35,265 39, 725 33, 095 45, 719 43, 635 39, 793 44,002
.165
.165
.165
.165
.165
.165
. 165
.165
.165
44,632
.165
49, 720
.165
46, 027
Revised.
1 Not available for publication separately.
2 Included in total vegetable oils but not available for publication separately.
3
December 1 estimate.
! Revisions for 1941-42 for coconut or copra oil production and stocks and linseed oil production and for 1941-43 for other indicated series are available on request; revisions were
generally minor except for fish oils (1941 revisions for fish oils are in note on p. S-22 of the April 1943 Survey).
1 Data for January 1942-February 1945 will be shown later; publication of these data was temporarily discontinued in 1942.
§ For July 1941-June 1942 revisions see February 1943 Survey, p. S-23; revisions for July 1942-June 1944 are on p. 23 of November 1945 issue.
c? Data continue series published in the 1942 Supplement but suspended during the war period; data for October 1941-February 1945 will be shown later.
SURVEY OF CURRENT BUSINESS
S-26
Unless otherwise stated, statistics through 1941
and descriptive notes may he found in the
1942 Supplement to the Surrey
1946
1945
1946
May
May
July 1946
June
July
September
August
Novem- December
ber
October
January
^ • |
March
April
CHEMICALS AND ALLIED PRODUCTS—Continued
PAINT SALES
Calcimines, plastic-texture and cold-water paints:!
Calcimines
thous. of dol.
Plastic-texture paints
do...
Cold-water paints:
In dry form
do...
In paste form for interior use
do.._
Paint, varnish, lacquer, and fillers, total.
declassified, total
do...
Industrial
_
_
do...
Trade
do...
Unclassified
...do...
111
75
96
91
115
54
170
50
87
50
101
50
90
48
78
68
439
280
72,463
65,134
24, 475
40,659
225
298
59,848
53, 515
26, 258
27,258
6,333
266
361
58,368
52,266
26,255
26,012
6,102
246
236
52,623
47,175
24,485
22,689
5,449
250
262
51,101
45, 595
22,168
23,427
5,506
208
243
48,020
42,862
16,851
26,011
5,158
281
190
57,540
51,838
20,820
31,018
5,702
27]
200
50, 298
45, 039
18, 996
26,043
5,259
190
187
43,382
38,072
16,614
21,458
5,311
796
4,888
1,384
1,386
5,151
1,267
1,294
5,018
1,104
1,432
5,465
1,417
1,313
5,344
1,222
1,533
6,114
1,426
1,660
6,171
1,498
1,165
5,395
1,289
199
269
56,556
50,415
19,983
30,432
6,141
100
87
262
240
54, 573
48,891
17,643
31,248
5,682
305
274
64,697
' 58, 279
20, 940
37,339
6,418
1,564
6,690
1,514
1,549
6,025
1,435
1,752
6,504
1,521
85
CELLULOSE PLASTIC PRODUCTS
Shipments and consumption^
Cellulose acetate and mixed ester plastics:
Sheets, rods and tubes
thous. of lb.
Molding and extrusion materials
do...
Nitrocellulose, sheets, rods, and tubes
.do_—
ELECTRIC POWER AND GAS
ELECTRIC POWER
Production, totaled
mil. of kw.-hr.
By source:
Fuel
do...
Water power
do
By type of producer:
Privately and municipally owned utilities
do....
Other producers . . .
do
Sales to ultimate customers, total (Edison Electric
Institute) 1
. mil. of kw.-hr.
Residential or domestic
.
do
Rural (distinct rural rates)
do
Commercial and industrial:
Small light and power 1
.
do _
Large light and power 5
.
do
Street and highway lighting J
do
Other public authorities^
.
. . do
Railways and railroads f
do
Interdepartmental 1
. . . .
. . . do
Revenue from sales to ultimate customers (Edison
Electric Institute)
thous.of doL-
17,673
19,409
18,834
18,954
18,625
17,008
17,671
17, 358
18,109
18,403
16,193
17,800
' 17,477
10- 572
7,101
11,803
7,606
11,859
6,974
12,252
6,702
12,280
6,344
10,980
6,028
11,208
6,463
11,026
6,332
11,523
6,586
11,292
7,110
9,967
6,226
10, 521
7, 278
' 10, 797
' 6,680
15,162
2,511
16,579
2,830
16,145
2,688
16,130
2,824
15,705
2,919
14,510
2,498
15,108
2,563
15,094
2,264
15,698
2,410
15,901
2,501
13,900
2,294
15, 288
2,512
16, 641
2,672
283
16,605
2,656
403
16,267
2,603
375
'16,139
2,612
478
' 14,895
2,693
383
14,602
2,789
390
14,908
3,026
258
15,283
3,275
264
15, 757
3,658
242
14,920
3,505
243
15,091
3,282
249
15, 233
3,094
328
2,477
9,726
157
670
604
51
2,478
9,641
146
656
574
60
2,439
'6,463
149
640
560
45
2,497
' 9,147
161
632
562
50
2,477
'8,028
175
562
533
45
2,509
7,826
197
555
588
48
2,566
7,657
209
535
608
50
2,663
7,561
223
540
702
56
2,755
7,596
229
512
708
57
2,708
7,083
198
518
614
51
2,622
7,592
193
486
613
53
2,595
7,916
174
483
591
52
271,413
276, 718
284,845
297,601
288,746
282,543
278,337
53,234
51,291
46, 754
41,802
233, 502
224,179
275,132
277,255 ••274,356 ••275,022
GASf
r
15,076
2, 402
••267,943
Manufactured and mixed gas:
Customers, total
. . .
. thousands..
Residential
do
Residential central heating
-do
Industrial and commercial
do
Sales to consumers, total
_
mil. of cu. ft.
Residential
_.
do
Residential central heating
do _
Industrial and commercial
do
Revenue from sales to consumers, total thous. of dol
Residential
_ _ _.
.do
Residential central heating
-do
Industrial and commercial
do
Natural gas:
Customers, total . . - .
..thousands..
Industrial and commercial
do
Sales to consumers, total
_mil. of cu. ft.
Residential (incl. house heating)
do
Indl., coml., and elec. generation.
..do
Revenue from sales to consumers, total thous. of dol.
Residential (incl house heating)
I n d l . , coml., and elec. generation _
10, 659
9,797
379
472
» 41,429 1 38,788
2
56,475
* 16,983
2
46,918
n i l , 748
2
73, 451
2
11,119
1
26,586
>174,
do _
do
i 33,757
9,869
395
10,742
469
» 31,982
2
53,421
2
5,191
2
37,522
2 97,534
2
70,518
'4,287
2
22, 273
131,206
10,685
9,777
440
458
141,463 i2 48,872
57, 703
2 26,952
2
40, 925
8
117,669
2
75,130
2
16,425
2
25,464
136,466
9,179
9,188
9,482
8,516
8,537
8 761
661
649
718
398 1167,509 U44,630 1148,515 i144,254 »150,641 1174, 743 1197,634
2
2
2135,217
75,746
156,228
2 350,580
2 378,267
2 312,220
2
2121,176
164, 670
2171,588
2
2
54,512
88,088
2 95,141
2
2
65,199
75, 264
2 75, 707
200,
780
183, 736
FOODSTUFFS AND TOBACCO
ALCOHOLIC BEVERAGES
Fermented malt liquor:f
Production
thous. of bbL.
8,149
7,462
8,104
8,104
7,758
8,081
6,966
7.508
5,452
7,236
7,743
6,796
7,340
8,149
Tax-paid withdrawals
do
7,437
7,381
6,228
6,856
5,581
6,800
6,527
9,043
9,116
9,262
8,447
Stocks, end of month
do
8,225
8,322
7,855
8,189
8,449
8,429
8,710
Distilled spirits:
Apparent consumption for beverage purposesf
15,217 14, 536
thous. of wine gal
14,254
14, 234
14, 307
18,609
19, 030 20,250
18,719
18,916
19, 470
Imports •
thous. of proof gal
1,787
3, 578
933
921
1,007
1,366
1,194
1,189
1,155
1,159
1,580
Production!
thous. of tax gal_.
1,129
1,301
41,796
15, 222
16,072 29,749 25,693
25, 578
26,715
24,824
20,918
9,038
8,020
9,938
9,660
Tax-paid withdrawals!
do
10,607
12,239
13,643
9,901 '11,356
10,816
11,272
328,085 321,957 341, 234 342, 761 341, 521 342,686 345,580 357,248 366, 406 375,117 380, 812
Stocks, end of monthf
.
do
' Revised.
f For revisions for the indicated series, see note at bottom of p. S-23 of the May 1945 Survey.
i Original estimates adjusted to agree with quarterly totals based on more complete reports.
2 Total for quarter.
X Data for some items are not comparable with data prior to 1945; see note for calcimines, plastics and cold-water paints at bottom of p. S-23 of the December 1945 Survey.
§ Data for sheets, rods and tubes cover all known manufacturers and are comparable with the combined figures for consumption and shipments of these products shown in the 1942
Supplement. Data for molding and extrusion materials does not include consumption in reporting company plants prior to June 1945, but amounts reported beginning that month
are comparatively small; this series includes, beginning June, data for one additional company which accounted for 7 percent of the total in that month and 4 percent for July.
cf See p. 22 of this issue for 1943 and 1944 revisions for total electric power production and production by source; revisions by type of producer are available on request.
• Data continue series published in the 1942 Supplement but suspended during the war period; data for October 1941-February 1945 will be published later.
t S e e n o t e m a * -•»•"••••
-
« ~~ » •-
»__.,.«,/,«-____.
•>•
•_.___.__ , 1
-, .
.
-
-,
.
.
-.
, .,
,
.* . -
—
See note marked '
beginning N o v e m .
,
_ . _ ._ ....
_ _ . . , .. . . .
.
.
.
x._
on that page. Amounts of ethyl alcohol produced for beverage purposes through October 1945 are given in note marked "J" on p. S-25 of the April 1946 Survey.
spirits and unfinisheds pirits are not included in the stock figures above but are shown on p. S-24.
http://fraser.stlouisfed.org/
Federal Reserve Bank of St. Louis
Stocks of high proof
July 1946
SURVEY OF CURRENT BUSINESS
Unlese otherwise stated, staticitics through 1941
and descriptive notes may be found in t h e
1942 Supplement to the Sui•vey
.May
1946
S-27
1946
1945
May
June
July
August
September
October
Novem- December
ber
January
Febru- March
ary
April
FOODSTUFFS AND TOBACCO—Continued
ALCOHOLIC BEVERAGES—Continued
Distilled spirits—Continued.
Whisky:
753
Importsf
thous. of proof gal
768
8,122
0
0
Production!
thous. of tax gal_.
5,013
4,280
4,655
Tax-paid withdrawals!
-do.
371,863 313,845 307, 588
Stocks, end of month!
-do.
Rectified spirits and wines, production, total!
10, 767
thous. of proof gaL. 13, 378 10,044
10, 462 ' 8, 820 9,259
Whisky
do__
Still wines:
263
168
Imports§
thous. of wine gal
5,866
4,844
Production (including distilling materials)!
do
7,377
6,202
Tax-paid withdrawals!
do.
110,717 102,725
Stocks, end of inonthf
do.
Sparkling wines:
1
2
Imports§
do.
171
181
Productiont
do_
87
84
Tax-paid withdrawals!
do.
1,043
1,132
Stocks, end of month!
do.
593
24,904
4,483
326,608
566
7,536
4,704
328,063
674
6,145
5,157
327,356
916
9,582
6,655
328, 729
897
10, 373
6,345
330,927
803
15,923
4,780
341, 235
960
17.128
6,053
350,063
845
14, 974
5,394
358,857
970
12, 856
5,557
364, 539
932
12,553
5,239
370, 268
9,556
7,952
10, 785
8,696
11,416
9,792
14, 785
12,677
13,909
12,074
11,171
13,425
11, 582
12,486
10,432
13, 579
10,874
13,860
10, 905
100
4,157
4,998
97,563
137
4,510
5,382
93,003
134
65,885
5,196
109,492
224
167,396
7.785
169,007
303
83,042
9,878
183, 357
247
18,361
9,057
174,502
274
5,306
8,680
163,965
153
2,924
9,785
152,622
299
3,551
12,809
139,139
321
2
150
90
1,190
13
125
124
1,179
7
104
125
1,137
21
145
174
1,107
42
132
211
1,000
43
113
210
877
24
155
126
896
15
215
145
• 1,000
43
167
421
.423
155,905
184,759
.423
133.289
206,501
.423
100,071
189,888
.423
88, 741
164,646
.473
68,834
108, 501
.473
66,640
53,127
.473
69, 520
32,135
473
66,030
19,462
.473
76,815
14, 925
.473
' 91,140
'14,052
DAIRY PRODUCTS
Butter, creamery:
Price, wholesale, 92-score (N. Y.)t
dol. per lb_
Production (factory)!
thous. of 1b.
Stocks, cold storage, end of monthcf
..do.-.
Cheese:
Imports!
do...
Price, wholesale, American Cheddars ("Wisconsin)
dol. per lb_
Production, total (factory)!
thous. of lb_
American whole milk!
do...
Stocks, cold storage, end of monthcf
do
American whole milk
do.._
Condensed and evaporated milk:
Exports :§
Condensed
do
Evaporateddo...
Prices, wholesale, U. S. average:
Condensed (sweetened)
dol. per caseEvaporated (unsweetened)
,
do...
Production:
Condensed (sweetened):
Bulk goods*
thous. of lb_
Case goods!
_do.-_
Evaporated (unsweetened), case goods!
do.-.
Stocks, manufacturers', case goods, end of month:
Condensed (sweetened)
thous. of lb_
Evaporated (unsweetened)
do...
Fluid milk:
Price, dealers', standard grade
dol. per 100 lb_
Production
mil. oflb.
Utilization in manufactured dairy products!._.do.__
Dried skim milk:
Exports!
thous. oflb.
Price, wholesale, for human consumption, U. S.
average
dol. per lb_
Production, total!
thous. of lb_
For human consumptionf
do.__
Stocks, manufacturers', end of month, total
do
For human consumption
do...
.473
.423
.423
113,695 160,413 171,717
26, 292 70, 375 131,669
606
863
542
859
1,054
569
1,967
1,533
1,464
1,461
.233
131,976
107, 722
148,271
134, 590
.233
138,617
111,813
182,831
166,739
.233
125,704
99,917
213,198
196,335
.233
107,685
87, 596
229,310
208,558
.233
' 89, 268
70,964
227,354
207,438
.233
78,517
59,118
213,054
193,965
.233
60,856
44, 774
173,736
159,284
.233
58,085
41.697
127,011
112,896
.233
62,880
44,440
106,623
95, 725
.270
62,765
43,865
91,372
81,913
.270
77,665
53,160
86,998
74, 420
.270
" 98,145
" 62,185
' 84, 845
' 73, 054
10,244
31,246
7,889
62,871
10, 469
70,899
4,414
55,177
7,294
46,873
1,625
23,988
6,313
63, 449
5, 525
83, 779
13,626
91, 591
7,185
103,114
112,217
10, 899
82,005
6.33
4.15
6.33
4.15
6.33
4.15
6.33
4.15
4.15
6.33
4.14
6.33
4.14
6.33
4.14
6.33
4.15
6.33
4.15
6.33
4.15
6.33
4.14
106, 894 86,257
12, 650 15,925
377, 600 474,336
81,613
15, 527
472,640
61, 769
14,632
431,256
45,072
13,925
360,704
34, 789
11,938
267,044
27, 270
11,217
211,513
24,311
9,469
162,657
27,461
8,840
164,379
32,301
8,800
180,000
37,037
8,200
181,200
55, 076
9,965
234,000
70,108
10, 200
296,600
7,748 13,012
150, 579 206. 309
11,868
210,193
13,987
204,368
14,310
192,455
11,753
172, 386
7,842
131,226
7,261
89,844
5,357
71, 762
4,991
54,098
5,044
46,245
4,415
59,045
5,551
80, 577
3.25
12,448
5,894
3.25
12,989
6,191
3.25
12,301
5,617
3.25
11,058
4,794
3.26
9,622
3,662
3.26
9,079
3,196
3.27
8,264
2,492
3.27
8,382
2,428
3.27
8,615
2,570
3.28
8,292
2,489
3.29
9,796
2,997
3.30
10, 540
r 3, 663
22, 769
21,073
21,480
11,335
22, 396
10, 247
18,225
26,684
25, 285
27,164
15, 856
8,358
.145
.142
92,425 88,900
90,175 86, 500
72, 572 ' 83, 692
71,448 ' 82, 339
.142
88,132
85, 575
88,130
86,121
.142
71,030
68,900
77,615
76,058
.143
53,245
51, 920
56, 745
55,683
.140
39, 700
38,650
39, 985
38,857
.137
31,440
30, 770
23,712
22,996
.139
24,100
23, 700
12,825
12,430
.143
33, 530
33,000
14,042
13, 736
.144
38,290
37, 650
12,786
12,474
.144
40,160
39,350
14,551
14,313
.145
56,140
55, 250
21,014
20, 778
.144
70,830
69, 370
35, 402
34,832
1,996
1,684
17,013
401
586
14, 302
953
599
11,288
1,165
764
8,970
3,085
4,585
8,929
11, 534
18,994
14,106
7,922
19,940
16,111
i 64,400
4,507
16,155
21, 217
5,175
10,963
20,851
4,376
6,308
19,751
2, 671
3,522
19, 229
' 1, 530
' 1, 497
•" 21,123
159,436
169,518
239,839
288,829
360, 230
381,267
377,126
375, 773
362, 314
344,026
321,765
291,148
77,131
91, 029
134, 512
163, 927
189, 033
204,093
198, 545
191,218
172,512
156,2-74
147, 394
140,277
3.671
3.780
3.428
3.179
2.431
2.445
2.744
3.060
3.000
3.844
4.115
"22," 956"
22, 976
19,711
21,350
26, 018
29, 291
23," 840
3.000
425,131
19, 994
26,124
21,873
30, 954
-•"247282
.270
126, 730
91,680
101,001
85, 727
6.33
4.21
3.32
12, 301
4,640
FRUITS AND VEGETABLES
Apples:
Production (crop estimate)
thous. of bu_.
458
Shipments, carlot
no. of carloads..
606
Stocks, cold storage, end of month
thous. of bu_.
Citrus fruits, carlot shipments
no. of carloads.. 17,109
Frozen fruits, stocks, cold storage, end of month
thous. oflb.. 279,094
Frozen vegetables, stocks, cold storage, end of month
thous. oflb.. 144,148
Potatoes, white:
3.894
Price, wholesale (N. Y.)
dol. per 100 lb__
Production (crop estimate)!
thous. of bu_.
Shipments, carlot
no. of carloads..
GRAINS AND GRAIN PRODUCTS
Exports, principal grains, including flour and meal§
42, 572
thous. of bu__
12,170
15,634
32,585
31,871
i,470
26,450
32,699
38,544
33,417
28,664
Barley:
,
475
609
409
561
1,464
578
Exports, including malt§
do
857
720
467
475
871
814
Prices, wholesale (Minneapolis):
1.18
1.19
No. 3, straight
dol. per bu._
1.40
1.14
1.27
1.30
1.18
1.17
1.30
1.30
1.30
1.34
1.34
1.27
1.27
No. 2, malting
do
1.43
1.28
1.26
1.27
1.32
1.31
1.32
1.31
1.35
1.36
1.31
Production (crop estimate)!
thous. of bu._ 230, 559
263, 961
Receipts, principal markets
do
9,624
11,264
9,602
6,879
4,116
19,931
15, 243
7,537
22, 598
9,832
5,089
5,062
Stocks, commercial, domestic, end of month
do
16,982
14,479
12, 998
16, 575
22,922
23,618
22, 707
21,287
17, 652
14,624
11,300
8,335
5,'"
r
Revised. cfSee note marked "d"" on page S-29. i Dec. 1, estimate. 2 June 1 estimate.
JSee note in June 1945 Survey for explanation of this price series. November average excludes sales at old price ceiling in effect through October.
§Data continue series published in the 1942 Supplement which were suspended during the war period; data for October 1941-February 1945 will be published later.
•Revised 1943 data are shown on p. 13 of the March 1945 Survey; see note on item in February 1945 issue regarding earlier data: 1944 revisions will be shown later.
!Revisions for consumption of distilled spirits for beverage purposes for January 1940-December 1944 are available on p. 22. See note marked "f" on p. S 25 of the April 1946
Survey for sources of 1941-42 and July 1943-January 1944 revisions for other alcoholic beverage series; revisions for fiscal year 1945 are snown on p. S-27 of the May 1946 issue. Revisions
for ,1920 to March 1945 for the series on utilization of fluid milk in manufactured dairy products are available on request; see note marked " ! " on p. S-26 of the April 1946 Survey for
sources of 1941-43 revisions for dried skim milk production and note marked " ! " on p. S-25 of that issue for sources of 1941-43 revisions for the other indicated dairy products series.
Crop estimates for barley and potatoes have been revised for 1929-41; for 1941 revisions, see February 1943 Survey, p. 25; 1929-40 data are available on request
S-28
SURVEY OF CURRENT BUSINESS
Unless otherwise stated, statistics through 1941
and descriptive notes may be found in t h e
1942 Supplement to the Survey
1946
May
July 1946
1945
May
June
July
August
September
1946
October
Novem- December
ber
January
February
March
April
FOODSTUFFS AND TOBACCO—Continued
GRAINS AND GRAIN PRODUCTS-Continued
Corn:
3,621
292
417
891
304
624
2,979
810
217
565
Exports, including mealc?
thous. of bu._
11,420
6,996
11,002
* 9, 294
9,849
7,609
9,941
6,841
• 7,633 • 5, 699 • 11,190
9,446
Grindings, wet process
__
do
Prices, wholesale:
1.16
1.18
1.45
1.18
1.17
No. 3, yellow (Chicago) __
__dol. per bu_.
1.18
1.18
1.17
1.18
0)
0)
0)
1.20
1.32
1.31
1.32
No. 3, white (Chicago)...
do
0)
(0
0)
0)
0)
0)
0)
1.08
.92
.94
1.04
1.13
Weighted average, 5 markets, all grades
do
1.13
.97
1.17
1.12
1.17
Production (crop estimate)!thous. of bu_.
23,018,410
14,482
44, 706
31, 962 "33,"l96
29, 383
31,832
29,138
16, 581
Receipts, principal markets.._
_
.do
22,119
18, 714
31, 671
28, 931
Stocks, domestic, end of month:
3,714
11,127
16,132
28, 780
7,100
4,674
4,723
Commercial..
.do
11,208
16, 493
23, 608
7,780
On farmsf
do
1,931,180
1,071,900
'303,138
738, 591
Oats:
5,527
332
168
273
3,021
1,055
549
1,719
2,010
Exports, including oatmeal c?
do
.81
.62
.80
Price, wholesale, No. 3, white (Chicago)_dol. per bu__
.63
.68
0)
0)
0)
(0
.68
.77 21,547,663
Production (crop estimate)!
-thous. of bu__ 31,492,783
13,104
16,158
21, 762
Receipts, principal markets.
do
7,865 " 12," 269* ~42,~097" ~ 32," 784" ~ 23," 028
16, 473
5,478 "5,~697"
"
187
308*
Stocks, domestic, end of month:
28,921
28,651
6,578
9,604
11,127
43, 555
46, 695
38, 775
Commercial
do
23, 890
48,361
11,181 ^209,400
45,043 988, 435
401, 325
1,290,931
On farmsf
do
Rice:
498,752 337, 633 251, 841 109, 441 234, 917 449, 436 845, 680 856, 526 941, 488 815,915 920,815
Exportscf
f
pockets (100 lb.)__
125
21, 674
0
24
8,807
0
13, 234
0
22,009
' 7, 817
Importsd"
do
.066
.066
.066
.066
.066
.066
.066
.066
.066
.066
Price, wholesale, head, clean (N. O.)...dol. per lb
.066
2 70,160
Production (crop estimate)!
-thous. of bu_.
California:
89,180 1,028,143 1,023,332 610,109 493, 561 412,082 394, 471
ileceipts, domestic, rough
bags (100 lb.)__ 372, 348 649, 518 463,410 406, 683 250, 267
216, 602 268,989 410,587 323.. 789 383,717
Shipments from mills, milled rice
do
65,446 341,989 593,683 468, 991 361, 417 357,147 224,996
Stocks, rough and cleaned (in terms of cleaned),
65,460
end of month
bags (1001b.)_ 275, 655 387,067 309,1E4 252, 667
55,544 363, 538 428,849 358, 408 330, 0/8 241,973 272, 359
Southern States (La., Tex:, Ark., Tenn.):
87
144
86
453
314
101
1,069
Receipts, rough, at mills
thous. of bbl. (162 lb.)_.
2,249
240
510
4,220
4,211
Shipments from mills, milled rice
460
559
288
324
1,506
1,899
thous. of pockets (100 lb.).-.
326
1,275
1,678
1,092
2,088
2.645
Stocks, domestic, rough and cleaned (in terms of
822
343
684
189
4,774
2,577
cleaned), end of mo
thous. of pockets (100 lb.)_
457
1,421
1,768
3,759
3,699
5,458
Rye:
1.44
2.84
1.39
1.53
1.75
2.13
Price, wholesale, No. 2 (Minneapolis)
dol. per bu_.
1.51
1.98
2.36
1.55
1.64
1.84
Production (crop estimate)!
..thous. of bu._ 20,759
2 26, 354
594'
2,173
639
404
Receipts, principal markets
do
476
1,186
2,358
1,145
1,301
480
270
896
4,433
Stocks, commercial, domestic, end of month
do
6,599
4.095
3,868
3,340
4,732
4,769
461
3,113
4,209
4,544
Wheat:
282,097
Disappearance, domestic!
do
351, 200
-•340,519
373, 657
15, 634
9,809
12,170
32, 699
Exports, wheat, including
flourcf
do
31, 764
6,470
26, 450 "327585
31,871
38,196
29, 551
1,922
4,726
Wheat onlycf
_.
do
18,476
11,114
22,184
26, 912
7,450
23,637
24, 057
27, 733
21, 485
Prices, wholesale:
No. 1, Dark Northern Spring (Minneapolis)
1.81
dol. per bu-_1.70
1.72
1.75
1.72
1.71
1.69
1.73
1.73
1.74
1.77
1.73
No. 2, Red Winter (St. Louis)._
do ___ 0)
1.80
1.67
1.68
1.76
0)
1.71
C1)
1.78
()
0)
0)
(0
No. 2, Hard Winter(K. C.)___
do
1.67
1.60
1.58
1.72
1.68
1.62
1.69
1.69
1.68
1.69
1.69
1.79
1.64
Weighted av., 6 mkts., all grades
do
1.72
1.67
1.75
1.62
1.70
1.65
1.70
1.70
1.71
1.72
Production (crop est.), total!
thous. of b u . . 1,025,509
21,123,143
2
Spring wheat
do
250.921
- 299,966
774, 588
Winter wheat
__
__do
823,177
Receipts, principal markets....
.do
88,625
40, 268
49,516
58,325 100,199
29,185
62,138
26,938 21, 457 31,111
54,857
42,048
Stocks, end of month:
Canada (Canadian wheat)
do
63, 529 263,984 239,037 206,960 171,740 181, 292 202.718 175, 257 152,823 141, 796 122, 374 102, 441
United States, domestic, totali !
do
1,030,363
689, 844
3 280,877
338,644
Commercial
.do
30,517
3 67,185 132, 278 I67,539 170,305 147,301 121,712 r 102,130 "72," 202
50, 011 34, 317
Country mills and elevators!.
do
108, 839
» 42,124
181,390
37, 476
95, 276
Merchant mills
do
3 58, 463
128, 261
55,899
268, 820
3 89,405
On farms!
do .
528, 218
203, 991
Wheat flour:
962
1,081
1,004
1,207
1,928
2,827
1,716
1,663
2,226
Exports cT
do
54, 460
51,885
57, 752 52, 403 52, 974 59, 591 59, 361 44,975
54, 541 53, 435 52,281
Grindings of wheatf
do
Prices, wholesale:
6.55
6.55
6.55
6.55
6.55
6.55
6.55
6.55
6.55
6.55
6.55
6.55
Standard patents (Minneapolis) §
dol. per bbl
6.49
6.22
6.39
6.22
6.38
6.31
6.46
6.42
6.36
6.44
6.49
6.46
Winter, straights (Kansas City)f
.do
Production (Census) :J
11,839
11,926
11,658
11,333
11,473
11,350
12,656
10, 680
11, 598 13, 064 13,016
Flour
-_.thous. of bbl_.
78. 1
74.5
76.1
80.0
77.2
77.8
91.3
69.4
79.5
78.5
85.3
Operations, percent of capacity
954,507 942, 823 924,648 957, 241 906,106 1,003,713 914,928 925,109 1,038,080 1,032,900 622, 980
Offal
thous. of lb._
2,634
3,068
3,399
2,385
Stocks held by mills, end of month
thous. of bbl. _
LIVESTOCK
LivestocK slaughter (Federally inspected):
609
402
Calves..
thous. of animals.
522
486
783
427
482
548
484
877
440
1,292
676
1,045
1,060
1,35S
1,408
Cattle
do-.1,050
1,118
1 015
1,584
904
1,012
3,375
3,382
4,350
2,206
Hogs
do
1,922
4,149
2,752
5,537
2,330
4,698
3,636
4,911
1,824
1,906
1,772
1.563
Sheep and Iambs
..do
1,742
1,658
1,806
1,374
2,018
1,978
2,196
1,440
Cattle and calves:
Receipts, principal markets
_do
1,783
2,791
2,585
2,015
2,111
2,207
3,024
2, 073
3,816
1,960
1, 920
1,961
Shipments, feeder, to 8 corn belt States!
do
106
114
339
103
203
104
669
97
91
404
187
Prices, wholesale:
Beef steers (Chicago)
dol. per 1001b_.
16.62
16.42
16.58
16.77
16.38
16.86
16.91
16.59
16.49
16.14
16.64
16.26
Steers, stocker and feeder (K. C.)
do
12.25
13.08
13.73
15.82
14.23
12.62
13.19
13.41
13. 56
14.71
13.54
15.22
Calves, vealers (Chicago)
...do
14.44
15.34
15.69
15.63
15.75
14.48
14.63
14.63
14.69
14.81
15.38
15.66
r
Revised.
« For2domestic consumption only;
excludes grindings for export.
1
3
No quotation.
Dec. 1, estimate.
June 1, estimate.
3
Includes old crop only; new corn not reported in stock figures until crop year begins in October and new oats and wheat until crop year begins in July.
cf Data continue scries published in the 1942 Supplement which were suspended during the war period; data for October 1941-February 1945 will be published later.
t Data relate to regular flour only; in addition data for granular flour were reported for January 1943 to February 1946 and are given in notes in the May 1946 and previous issues
of the Survey; data were not collected after February 1946.
§ Prices since May 1943 have been quoted for sacks of 100 pounds and have been converted to price per barrel to have figures comparable with earlier data.
*| The total includes wheat owned by the Commodity Credit Corporation stored off farms in its own steel and wooden bins not included in the breakdown of stocks.
f Revised series. The indicated grain series have been revised as follows: All crop estimates, 1929-41; domestic disappearance of wheat and stocks of wheat in country mills and
elevators, 1934-41; corn, oat and wheat stocks on farms and total United States stocks of domestic wheat, 1926-41; see note marked " t " on p. S-26 of the April 1946 Survey for sources
of revisions for 1941; all revisions are available on request. The series for feeder shipments of cattle and calves was revised in the August 1943 Survey to include data for Illinois1 see
p. S-26 of that issue for revised data for 1941-42.
SURVEY OF CURRENT BUSINESS
July 1946
Unless otherwise stated, statistics through 1941
and descriptive notes may be found in the
1942 S u p p l e m e n t to the Survey
1946
1945
May
August Septem-
May
June
July
S-29
1946
October
Novem- December
ber
January
February
March
April
FOODSTUFFS AND TOBACCO—Continued
LIVESTOCK—Continued
Hogs:
Receipts, principal markets
thous. of animals..
Prices:
Wholesale, average, all grades (Chicago)
dol. per 1001b_.
Hog-corn ratiof. .bu. of corn per 100 lb. of live hogs..
Sheep and lambs:
Receipts, principal markets
thous. of animals__
Shipments, feeder, to 8 corn belt Statesf
do.
Price.. wholesale:
Lambs, average (Chicago)
dol. per 1001b..
Lambs, feeder, good and choice (Omaha)
do
1,610
1,292
1,191
1,469
2,935
3,459
3,344
2,952
1,211
2,472
14.69
12.7
14.54
12.5
14.51
12.4
14.54
12.6
14. 75
12.5
14.67
12.8
14.66
13.0
14.72
12.8
14.77
12.8
14.80
12.5
14.81
12.2
2,579
97
2,419
52
2,165
100
2,270
354
2,811
932
3,640
1,072
2,270
315
2,100
129
1,663
102
2,481
154
1,753
90
1,984
67
15.35
15.29
15.55
13.81
14. 53
13.26
14.51
14.02
14.66
14.00
14.76
13.89
14.33
14.30
14.46
14.70
15.50
15.23
15.38
15. 51
15. 30
1,190
133
1,359
673
23
'44
1,265
60
1,401
767
27
48
1,198
96
1,293
790
27
53
1,320
62
1,281
696
27
54
1,356
40
1, 252
559
24
47
1,509
19
1,442
491
27
44
1,498
125
1,688
556
31
37
1,426
202
1,739
687
41
39
1,368
325
1,581
772
47
38
1, 478
173
1,595
791
49
44
()
191
1, 296
750
49
46
136
1 226
r 696
44
44
584,341
560
569, 208
369
608,407
356
727, 399
1,173
810, 409 901,389
1,561
1,903
746,489 521,900 466, 896 543, 843
15, 221 69,602 90, 526 50, 214
()
94, 545
30, 945
.203
.202
.200
.200
.200
.200
750, 723 599,635 557, 516 569, 746 526,166 431,517
'
140,157
162,
098
187,
392
i64,872
177, 033 186, 365
2,431
2,027
14.81
10.6
* 14. 71
13.1
1,610
56
16.00
(a)
MEATS
Total meats (including lard):
Consumption, apparent
...mil. of lb.
Exports §
do...
Production (inspected slaughter)
do...
Stocks, cold storage, end of rnonth©c?
do__.
Edible offal0
'
do...
Miscellaneous meats and meat products© d o . . .
Beef and veal:
Consumption, apparent
thous. of lb.
Exports!
do__.
Price, wholesale, beef, fresh, native steers (Chicago)
dol. per l b .
Production (inspected slaughter)
thous. of lb.
Stocks, cold storage, end of month© c?
do...
Lamb and mutton:
Consumption, apparent
do.. .
Production (inspected slaughter)
_
...do...
Stocks, cold storage, end of month©cf
do._.
Pcrk (including lard):
Consumption, apparent
._
_do
Production (inspected slaughter)
do.._
Pork:
Exports§
do...
Price?, wholesale:
Hams, smoked (Chicago)
dol. per lb_
Fresh loins, 8-10 lb. average (New York)
do__Production (inspected slaughter)
thous. of lb.
Stocks, cold storage, end of month© cT
do
Lard :
Consumption, apparent..
do
Exports §
do.. _ _
Price, wholesale, refined (Chicago)
dol. p e r l b .
Production (inspected slaughter)
thous. of lb.
Stocks, cold storage, end of monthd"
do...
1,224
615
38
38
.203
409, 953
110, 776
.200
604,143
220, 761
.200
617,147
275,154
.200
601,405
270,834
.200
707,488
250,886
.200
754,398
208,926
.200
869,459
187,807
(6)
57,167
11, 296
74,884
77, 290
13,870
72,656
76, 918
18,121
75,611
72, 335
14, 842
71, 547
66, 684
9,918
71,896
71,179
9,177
82,413
86, 423
13, 066
(»)
757, 222
530, 777
677,425
623,138
706,956
514,384
619,372
521,062
500,858
473,889
426,044
1,312
62,124 102,496
66, 010 100, 934
19,189
16, 533
525, 288 676,895 829,991 839, 051 831,492
485, 849 859, 844 1,058,969 957,453 924,170
()
89, 629
15, 513
(*)
75,865
12,171
()
()
680, 480 718, 345
20, 718
27, 321
.268
.266
573,027
379,373
13, 903
11,476
3, 353
.258
.258
528, 725
305, 996
.258
.259
545, 395
333, 019
.258
.259
474,830
344,812
.258
.259
387,806
285, 216
.148
109, 563
46, 508
56, 229
41, 599
.146
108,458
64, 339
80,348
35, 953
.146
117,861
65,899
50,918
40,836
.146
105,140
79, 285
71,837
24, 965
.146
86, 506
45,612
32, 647
.146
68,268
58,998
.272
17,683
102, 236
.260
20, 245
97, 211
.251
27,688
103, 203
.251
38,041
114,192
.239
56,772
157,077
12,906
.343
6,311
9,177
.351
5,304
8,031
.356
4,593
7,858
.378
3,940
2,674
.346
3,397
5,432
231, 930
6,120
255,936
5,926
248, 675
218, 010
36, 446
23,122
30, 979
32, 574
24,164
22,690
29, 722
18,448
.134
2,105
678
519
1,554
.134
1,321
1,477
1,244
1,537
.134
1,338
1,387
1,161
1,804
.134
1,928
1,643
1,174
2,530
.134
1,976
84, 998
55, 298
40, 516
69,323
58,438
61,113
80, 523
4,771
74,060
80,491
17, 406
.258
.264
.258
.258
.258
.258
.258
.259
.264
.259
.259
.258
.259
.259
332, 064 390, 754 679, 582 810,106 747, 282 708, 566 533, 909
211, 004 168,028 235,894 320, 571 396, 740 423,55 396, 753
64,082
.265
.266
606, 017
369, 814
POULTRY AND EGGS
Poultry:
Price*, wholesale, live fowls (Chicago)
dol. per l b .
.274
Receipts, 5 markets
thous. of l b . 34, 765
Stocks, cold storage, end of monthd"-do__. 209, 424
Eggs:
Dried, production*
do...
17, 556
Price, wholesale, fresh firsts (Chicago)J..dol. per doz.
.336
Production
millions6,216
Stocks, cold storage, end of month:cf
Shell
thous. of cases.
8,665
Frozen
thous. of lb- 249, 304
74, 598
76, 951
15, 394
1, 585
66,397
10,662
.146
68,975
50,914
11,190
12,721
95, 465 134,462
27,350 22,862
.146
.146
131, 250 180,801
59, 349 82,826
16, 559
8,222
127,002 102,417
()
(*)
25, 063 47, 975 42, 323 55, 435
.147
.146
.146
.148
152,728 157,087 106, 538 105, 369
83,489 90, 184 80, 438 r 71,153
.255
.232
.243
.228
94, 226 99, 208 89, 018 47,157
238,936 320,745 355,914 363,954
.272
.253
.268
31, 034 31, 348 37, 278
356, 730 320,027 ' 256,822
544
.401
3,118
159
437
2,936
183
.429
3,400
264
356
4,214
7,449
.331
4,954
3,724
1,666
203, 209 182,322
314
155,934
113
129,424
272
111, 721
1,578
117,903
35, 369
22,873
43, 504
22, 699
40, 459
14,133
36,818
14, 249
42, 709
16, 898
38, 865
30,162
39, 254
37, 361
38, 469
42, 688
1,644
1,380
1,868
.134
2,352
1,181
715
1,803
.134
2,396
567
1,353
.134
2,251
1,618
1,233
998
.134
2,558
1, 286
973
2,093
.134
2,276
1,030
718
1,478
.134
2,143
1,145
748
1,844
.134
2,044
1,577
1,189
1,824
.134
1,964
33, 247 21, 640 10, 821
148, 286 140, 208 115, 398
12,455
90, 051
24,056
84, 265
18, 335
.332
6,696
20, 924
.333
6,721
' 3, 771 ' 6, 425
149, 710 200,176
MISCELLANEOUS FOOD PRODUCTS
Candy, sales by manufacturers
thous. of dol._
Cocoa, imports§
long tons.
Coffee:
Clearances from Brazil, total
thous. of bags.
To United States
do...
Imports§
do
Price, wholesale, Santos, No. 4 (N. Y.)-,_dol. per lb_.
Visible supply, United States
thous. of bags..
Fish:
Landings, fresh fish, 4 ports
thous. of lb._
Stocks, cold storage, end of m o n t h . _ .
...do
Sugar:
Cuban stocks, raw, end of monthf
thous. of Span, t o n s , .
United States, deliveries and supply (raw value):*
Deliveries, total
short tons.For domestic consumption
do
For export
do
Production, domestic, and receipts:
Entries from off-shore areas
do
Production, domestic cane and beet.
..do
Stocks, raw and refined
do
1,829
1,510
54, 254 38, 493 43,356
108,999 127, 055 138,434
296
205
299
1,111
1
75, 318
2,702
2,902
'2,119
1,777
1,516
975
795
524, 662
451, 994
72,668
621,694
583,264
'38,430
578, 590
560,858
17,732
514, 500
492, 561
21,939
540,129
513,695
26,434
490,761
471,466
19,295
501, 777
8,345
,065,183
476,866
8,805
828,167
417,489
9,549
684,020
441, 594
8,644
604,140
464,037 412,128 270,089 210,392 196,476 182,937 •263,345 465,834 433,190
16,161 56,654 420,480 644,161 414,465 98, 526 24, 771 19, 305 18, 254
542, 231 513,294 728,489 1,167,026 1,418,532 1,794,764 1,174,644 1,184,341 1,080,908
471,266 420, 708 354,447 516, 244 285,341 476, 316 556, 466
468, 755 411,491 347,402 514, 724 276, 715 425, 742 500, 608
8,626
50, 574 55,858
2,511
9,217 • 7,045
1,520
' Revised. 5 For data for December 1941-July 1942, see note in November 1943 Survey.
b
% Compiled by the U. S. Department of Labor; see note in April 1944 Survey.
• No quotation.
Temporarily discontinued; data under revision.
cf Cold storage stocks of dairy products, meats, poultry and eggs include stocks owned by the D. P. M. A., P . M. A., and other Government agencies, stocks held for the Armed
Forces stored in warehouse space not owned or operated by them, and commercial stocks; stocks held in space owned or leased by the Armed Forces are not included.
§ Data continue series published in the 1942 Supplement but suspended during the war period; data for October 1941-February 1945 will be published later.
© Data for edible offal are comparable with figures beginning June 1944 shown as "miscellaneous meats" through the April 1946 Survey (see note in that issue). "Miscellaneous
meats and meat products" shown above include sausage and sausage room products and canned meats and meat products which were not reported prior to June 1944. Stocks shown
under beef and veal are combined figures for beef and veal; the latter also has been reported only beginning June 1944. Data for June 1944 to February 1946 for veal and for the items
aow shown as miscellaneous meats and meat products are given in notes in the August 1944 to April 1946 issues of the Survey. Stocks for the several meats include trimmings which
were included as "miscellaneous meats" prior to June 1944.
* New series. Data for 1927-43 for dried eggs are shown on p. 20 of the March 1945 Survey. The new sugar series include raw and refined in terms of raw (see also note in the
kpril 1945 Survey).
t Revised series. The hog-corn ratio has been shown on a revised basis beginning in the March 1943 Survey; revisions beginning 1913 will be shown later. The series for feede
shipments of sheep and lambs has been revised beginning 1941 to include data for Illinois; revisions are shown on p. S-27, of the August 1943 Survey.
S-30
SURVEY OF CURRENT BUSINESS
Unless otherwise stated, statistics through 1941
and descriptive notes may be found in the
1942 Supplement to the Survey
1946
May
July 1946
1946
1945
May
June
July
August
September
October
Novem- December
ber
January
February
March
April
FOODSTUFFS AND TOBACCO—Continued
MISCELLANEOUS FOOD PRODUCTS-Con.
Sugar, United States—Continued.
Exports, refined sugar §
_
._ _Imports: §
Raw sugar, totaL _ _
. .
From Cuba. _ _ . __
Refined sugar, total
.
From Cuba. . ._ _ __
Receipts from Hawaii and Puerto Rico:
Raw. . .
Refined
Price, refined, granulated, New York:
Retail
.
Wholesale. _
Tea, imports §
short tons
18, 882
15, 344
15, 531
16,991
9,690
5,406
3,484
18,972
4,322
7,003
33,945
58, 321
do
do
do
do.
238, 394
229, 328
27,400
26, 880
195, 571
191,665
28, 359
28,125
138,085
130, 864
37, 210
37, 210
221, 391
217, 706
61, 858
61,858
266,947
256, 230
5,093
5,093
98, 396
77, 882
34,920
28, 372
76, 871
76,871
10, 979
10,856
68. 374
68,374
4,387
4,243
172,125
172.125
10, 324
10, 324
191, 214
191, 214
195
0
310, 519
310,519
33,816
33, 656
155, 409
155,408
38, 785
38, 735
do
do
155, 680
10, 481
183,173
19,300
188, 354
21, 960
171,321
12, 629
166,705
8,198
144, 804
265
115, 226
0
91, 076
0
20, 687
0
38, 774
0
.066
.054
7,611
.064
.054
1,476
.064
.054
3,304
.065
.054
6,834
.064
.054
8,987
.064
.054
9,015
.064
.054
9,881
.064
.054
3,686
i .067
.054
14, 975
1.068
.056
12, 569
1.073
.059
6,139
1.074
.059
6,580
70, 365
5,049
32, 708
5,101
44, 423
4,312
37, 203
5,849
33, 832
4,996
39, 788
6,112
26, 504
4,892
27, 226
3,119
2 2, 042
47,335
22, 371
43,902
4,043
52, 230
5,129
60,401
4,727
dol. per lb
...do
thous. of lb.
1.073
. 059
6,580
TOBACCO
Leaf:
Exports, incl. scrap and stems §
thous. of lb
Imports, incl. scrap and stems §.
_ do
Production (crop estimate)
mil of lb
Stocks, dealers and manufacturers, total,
end of quarter
mil. of lb
Domestic:
Cigar leaf
do
Fire-cured and dark air-cured
do
Flue-cured and light air-cured
do
Miscellaneous domestic
do
Foreign grown:
Cigar leaf
do
Cigarette tobacco
do
Manufactured products:
Consumption (tax-paid withdrawals): ^
Small cigarettes . . . ._ ._ __
millions
29. 972
497, 297
Large cigars
thousands
Manufactured tobacco and snuff
thous. of lb__ 21. 223
Exports, cigarettes §
- . . ..thousands..
Price, wholesale (list price, composite):
6. 255
Cigarettes, f. o. b., destination.. - dol. per 1,000
Production, manufactured tobacco, total thous. of lb
Fine-cut chewing
do...
Plug_
_
.
do
Scrap, chewing. .
.
. do . . .
Smoking
do
SmifiL
_ _
...
do .
Twist
«>58, 722 * 112, 975
*10,416 *23, 654
2,766
2,928
3,275
3,342
372
236
2,051
2
338
192
2,294
2
324
175
2,668
3
377
223
2, 627
2
26
78
27
75
31
75
28
85
21, 280
413, 693
28,074
452, 021
24, 311
403,023
26, 266
355, 973
21, 815
350, 756
24, 482
372, 713
28, 478
420, 922
28,905
405, 535
26, 360
420, 623
27, 553
582, 295
6.006
29, 774
329
5,274
4,383
15,106
4,076
606
6.006
28, 529
333
5,060
4,311
14, 820
3,400
605
6.006
26, 276
301
5,019
4,094
13,185
3,153
523
6.006
30, 049
360
5,720
4,271
15, 401
3,674
623
6.006
27,730
338
5,198
3,516
14, 670
3,462
547
25, 406
25, 226
23,637
25, 452
31, 340
26, 401
16,061
512, 727 468, 404 364, 671 468, 592 455,024 480, 479 484, 318
20,806
17, 776
18, 519
31,150
27,090
15,453
20,023
879, 853 1,106,903 1,002,748 2,660,699 1,048,525 1,448,618 1,996,922
6.006
6.006
31,096 ' 26, 608
374
'392
' 5, 607
' 4, 703
3,625
2,957
16, 849
14, 616
4,009
3,427
634
513
6.006
16,655
279
3,066
3,069
' 6,954
2,953
335
6.006
20, 521
331
4,106
3,976
7,979
3,706
423
6.006
18,065
262
4,317
3.948
5,944
3,128
466
6.006
19, 065
282
4,373
4,099
6,386
3,419
508
6.056
LEATHER AND PRODUCTS
1
HIDES AND SKINS
Livestock slaughter (see p. S-28).
Imports, total hides and skins §
thous. of lb_.
Calf and kip skins
thous. of pieces..
Cattle hides
do
Goatskins
do
Sheep and lamb skins
do
Prices, wholesale (Chicago):
Hides, packers', heavy, native steers
dol. per lb_.
Calfskins, packers', 8 to 15 lb
do
LEATHER
Exports: §
Sole leather:
Bends, backs and sides
thous. of lb
Offal, including belting offal
do
Upper teather
do
Production: t
Calf and kip
thous. of skins..
Cattle hide
thous. of hides..
Goat and kid
thous. of skins.
Sheep and lamb
do
Prices, wholesale:
Sole, oak, bends (Boston)f
dol. per lb.
Chrome, calf, B grade, black, composite.-dol. per sq. ft.
Stocks of cattle hides and leather, end of month:
Total__
thous. of equiv. hides
Leather, in process and
finished
do
Hides, raw
do
LEATHER MANUFACTURES
Gloves and mittens, production, total*. thous. doz. pairs.
Dress and semi-dress, total
do
Leather
do
Leather and fabric combination
do
Fabric
...
.
do
Work, total
do
Leather
do
Leather and fabric combination
do
Fabric
do. _ _
r
. 155
.218
17, 730
61
84
2,591
3,881
13,149
79
52
2,148
2,491
18,410
55
92
1,825
3,340
15, 522
26
25
1,010
3,677
14,516
15
12
1,973
3,333
14,073
24
21
1,574
3,349
15, 736
49
49
2,201
2,774
11,301
164
29
1,656
1,912
' 16,084
39
52
3,137
2,883
10, 870
(•)
20
2,297
1,968
15,331
3
68
2,332
2,818
.155
.218
.155
.218
.155
.218
.155
.218
.155
.218
.155
.218
. 155
.218
.155
.218
.155
.218
.155
218
.155
.218
412
247
123
1,992 "~"2,~58f
336
176
2,036
3
92
1.324
157
91
2,741
154
163
2,864
3,062
275
6,705
79
1,194
3,206
1,818
296
2,853
721
573
3,324
950
r 2, 132
' 1, 780
942
' 1, 985
1,676
4,132
1,070
' 2, 337
' 1, 742
' 4, 784
••946
' 2, 320
' 1, 780
' 4.639
937
' 2, 237
1, 659
' 3, 949
1,031
' 2, 502
1,997
'4,418
1.032
2,544
2,143
4,288
898
2,500
2, 190
4,256
255
99
1.338
821
1,773
. 440
. 533
1,000
' 2, 468
2. 266
' 4,602
.440
.529
11,917
6,905
5,012
2,339
708
148
90
470
1,631
230
238
1, 163
1.083
2,353
2, 015
4,172
858
- 2, 150
1.745
' 3. 794
' 4, 507
.440
.529
.440
.529
.440
.529
.440
.529
.440
.529
.440
.529
.440
.529
.440
.533
.440
.533
.440
.533
11, 729
6,761
4,968
11,951
6,965
4,986
12, 245
7,072
5,173
12, 577
7,223
5,354
13,047
7,346
5,701
13, 037
7,473
5,564
13,177
7,849
5,328
13. 622
8,433
5,189
13, 593
8,202
5,391
13, 077
8,059
5,018
2,351
705
151
82
472
1,646
226
231
1.189
1,904
545
122
59
364
1,359
177
188
995
2,187
648
155
40
453
1,538
206
227
1, 105
2,071
650
152
2,476
775
173
33
568
1,701
198
242
1,261
2,266
734
171
26
537
1,531
175
212
1,144
1,893
632
144
20
468
1,261
155
186
921
2,228
656
151
18
488
1, 572
177
231
1,164
2,218
688
154
20
513
1,530
169
220
1.141
' 2, 432
r
794
-•185
23
'586
' 1, 638
176
225
' 1, 237
r
29
469
1,422
175
208
1,039
Revised. "Less than 500 pieces. b Data for Puerto Rico; data for Hawaii not yet available.
1 Data reflect a change in the sample of reporting stores and in the method of summarizing reports; January 1946 figure comparable with earlier data is $0,064.
Dec. 1 estimate.
5Tax-paid withdrawals include requirements for consumption in the United States for both civilians and military sei vices; withdrawals for export and for consumption outsic
the United States are tax-free.
§Data continue series published in the 1942 Supplement but suspended during the war period (it should be noted that data for sugar are shown in long tons in that volume
data for October 1941-February 1945 will be published later.
tRevised series. The price for sole oak leather is shown on a revised basis beginning in the October 1942 Survey; revisions beginning July 1933 arp available on request.
•New series. Data on gloves and mittens are from the Bureau of the Census and cover all known manufacturers; data for January 1943-March 1945 for leather and combinatic
leather and fabric, and for M a y 1944-March 1945 for fabric gloves and mittens will be published later. The series for leather gloves are not comparable with similar data shown i
the 1942 Supplement which covers only around 85 percent of the total.
http://fraser.stlouisfed.org/tRevisions for 1945 not shown above: Cattle hide—Feb., 2,395; Mar., 2,460; Apr., 2,33.5. Sheep and lamb—Jan., 4,540; Feb., 4,538; Mar., 4,499; Apr., 4,294.
2
Federal Reserve Bank of St. Louis
July 1946
SURVEY OF CURRENT BUSINESS
Unless otherwise stated, statistics through 1941
and descriptive notes m a y be found in the
1942 Supplement to the Surrey
1946
May
S-31
1945
May
June
July
August
1946
September
October
Novem- December
ber
January
February
March
April
LEATHER AND PRODUCTS—Continued
LEATHER MANUFACTURES—Continued
Boots and shoes:
Exports §
thous. of pairs__
Production, total X
do
Government shoes
do
Civilian shoes, total
do
Athletic
do
Dress and work shoes, incl. sandals and playshoes:
Leather, uppers, total
thous. of pairs..
Boys' and youths'
_
do
Infants'
do
Misses' and children's
do
Men's
do
Women's
_
do
Part leather and nonleather uppers
do
Slippers and moccasins for housewear
do
All other footwear
do
1,277
43,818
5,494
38,324
346
1,100
43,985
5,440
38, 544
20,432
961
2,442
3,721
4,292
9,017
12,190
5,224
132
19,893
985
2,386
3,681
4,184
8,657
12,929
6,184
271
268
860
36,338
4,654
31,684
178
1,149
41,633
4,432
37,201
238
273
37,240
1,495
35,745
355
527
42,163
1,055
41,108
466
995
39,998
813
39,185
452
4,192
34, 583
632
33,950
396
1,326
744
40,744 43, 694
'464
471
40, 274 '43, 230
512
561
17,320
998
2,042
3,062
3,824
7,394
9,372
4,608
206
19,8301,071
2,326
3,454
4,670
8,309
10,654
6,249
230
21,411
1,206
2,234
3,274
5,757
8,940
7,744
6,046
188
28,839
1,579
2,728
3.907
7,701
12,924
3,630
8,009
165
28, 568
1,593
2,730
3,760
7,547
12, 939
2,612
7,380
173
26, 349
1,421
2,346
3,370
6,944
12,268
2,604
4,494
105
31,012 '33,163
1,492
1,777
2,855 '3 067
3,913 '4,389
7,815
8, 515
14,937 15,414
4,007 ••4,624
4,607
4, 751
136
131
1,095
981
LUMBER AND MANUFACTURES
LUMBER—ALL TYPES
Exports, total saw mill products §
M bd. ft.
Sawed timber §
do
Boards, planks, scantlings etc §
do
Imports, total sawmill products §
do
National Lumber Manufacturers Association:!
Production, total
mil. bd. ft
Hardwoods ,
___do
Softwoods
do
Shipments, total
do __
Hardwoods
__.do___
Softwoods
do
Stocks, gross, end of month, total
do___
Hardwoods
do
Softwoods
_ _ do -_-
30, 851
2,274
25, 587
83,386
24,148
1,665
20,184
91,597
38,196
5,930
29,094
89,128
44,280
6,795
34, 765
100,707
41,446
7,507
31,095
91,293
43, 590
2,772
38,922
109,730
39, 429
2,874
33,803
98,964
49,257
3,312
44,012
95,432
64,795
6,405
56,089
80,528
52, 574
11, 708
39,194
79, 434
71,094
21.006
48,091
95, 354
63, 573
21,278
40,048
97,136
6S9
1,969
2,621
691
1,930
3,481
875
2,606
2,706
600
2,106
2,734
630
2,104
3,571
852
2,719
2,707
583
2,124
2,637
606
2,031
3,648
838
2,810
2,341
560
1,781
2,316
547
1,769
3,653
837
2,816
2,574
634
1,940
2,494
579
1,915
3,705
885
2,820
2,191
612
1,579
2,148
516
1,632
3,741
958
2,783
2,089
673
1,416
1,991
595
1,396
3,792
1,018
2,774
1,891
615
1,276
1,819
581
1,238
3,845
1,040
2,805
1,638
443
1,195
1,688
472
1,216
3,816
1,022
2,794
1,840
516
1,324
2,081
604
1,477
3,555
906
2,649
1,887
498
1,389
1,911
479
1,432
3,482
877
2, 605
2,279
640
1,639
2,307
582
1,725
3,397
886
2,511
2,538
681
1,857
2,517
674
1,843
3,421
873
2,548
3.700
6,175
2,950
3,875
2,475
2,775
7,050
3,175
2,750
2,500
2,775
7,200
3,325
2,975
2,775
2,900
7,200
2,925
2,600
3,050
2,975
6,525
2,925
3,575
2,375
2,900
6,500
2,875
2,950
2,375
3,600
7,150
3,325
2,975
2,600
2, 275
7,300
2, 525
1,950
3,125
1,150
7,050
2,425
1,200
4,350
2,875
6,700
3,050
3,075
4,250
2,625
6, 725
2, 850
2,675
4,300
3, 025
6,875
3,100
2,725
4, 650
4, 325
6,550
3,100
4, 350
3,200
19,434
33, 371
20,119
20,982
7,270
14,210
41,487
16,897
18, 186
1,925
11,566
37, 578
15,688
15, 477
2,475
10,047
33,494
14,034
14,129
2,380
12,595
30,858
15,500
15,231
2,463
14,608
33,992
15,049
15,130
2,804
23, 506
38,797
19,197
18, 494
3,507
18,343
39,097
18,970
17,364
5,113
12,201
37,962
16,004
13,336
7,781
15,632
42,120
18, 523
11,474
14, 830
17, 329
37, 694
17, 453
22, 892
9,391
15, 971
3.5, 529
18, 958
18,136
9,661
16,817
34, 280
18. 757
20, 996
7, 425
2,668
FLOORING
Maple, beech, and birch:
Orders, new _
__
M bd. ft
Orders, unfilled, end of month
_
do
Production
__.__._
_ do
Shipments
do
Stocks, end of month
do
Oak:
Orders, new
do
Orders, unfilled, end of month . .
_ do
Production
do
Shipments
_ _. _.
do
Stocks, end of month
do
SOFTWOODS
Douglas fir:
40,197
14,565
31,375
42,207
8,268
7, 687
14, 278
18, 807
21, 545
11,313
26,038
41,528
Exports, total sawmill products §
M bd. ft__
17,076
4,968
8,242
1,595
5,829
1,254
13, 225
1,175
1,127
3,820
Sawed timber §
do
5,775
554
23,121
9,597
23,133
28, 982
6,673
6,512
8,503
12,978
20,291
24,911
10,759
37,708
Boards, planks, scantlings, etc.§
-,
do
Prices, wholesale:
Dimension, No. 1, common, 2 x 4—16
38.220
34. 790
34. 790
34. 398
34.790
34.790
34.790
34.790
37. 362
34. 700
34. 790
34. 790
dol. per M bd.ft.. 38. 220
53.900
51.450
53. 900
44.100
44.100
44.100
44.100
44.100
44.100
44.100
44.100
Flooring, B and better, F. G., 1 x 4, R. L . . d o . . .
44.100
44.100
Southern pine:
11,973
9,093
13,816
7,684
Exports, total sawmill products §
M bd. ft
6,717
7,326
6,355
5,798
3,912
6,950
7,202
9,076
3,506
Sawed timber §
do
524
344
649
1,241
1,904
5,743
1,391
1,853
3,228
745
2,268
8,467
3,894
5, 865
8.073
5,114
5,349
6,808
6,293
6,193
6,677
6,205
3,568
Boards, planks, scantlings, etc §
do
655
555
613
607
472
626
639
633
532
550
672~
664
Orders, new t
mil. bd. ft
577
676
646
698
738
731
746
808
695
653
650
696
876
850
Orders, unfilled, end of month t
do
Prices, wholesale, composite:
Boards, No. 2 common, 1" x 6" or 8" x 12't
46, 029
43. 465
42. 782
46, 029
41.144
42.018
42.018
42. 018
42. 018
42.837
41.144
41. 428
dol. per M bd.ft.- 46.029
Flooring, B and better, F . G., 1" x 4" x 12—14' f
65,091
56. 494
56. 494
56. 371
56. 371
56. 371
59.811
60. 056
65,091
56. 371
56. 371
61.131
dol. per M bd.ft._ 65.091
673
629
614
629
472
512
600
635
712
660
Production!
mil. bd. ft
555
682
554
624
662
476
576
553
655
645
596
553
657
728
659
630
Shipments!
do
1,082
1,129
1,086
1,065
1,066
1,071
1,154
1,113
1,128
1,087
1,133
1,131
1,060
Stocks, end of monthf
____
do
Western pine:
445
480
514
276
299
307
240
293
515
412
422
465
548
Orders, newf
do
293
294
305
299
417
351
302
298
421
440
360
280
398
Orders, unfilled, end of monthf-- ~. _ do
Price, wholesale, Ponderosa, boards, No. 3 common,
39.15
36.07
35.77
35.78
36.46
35.99
36.16
34.84
34.75
34.88
35.30
40.65
34.79
1" x 8"
dol. per M bd. ft__
457
206
296
341
279
206
234
584
548
418
Production!
mil bd ft
600
570
570
248
461
297
373
529
517
412
332
310
290
519
542
510
Shipments!
_
do
710
824
684
949
908
761
765
935
965
971
980
877
820
Stocks, end of month!
do
West coast woods:
543
527
414
288
377
455
423
557
Orders, new!
do
618
597
431
261
518
694
632
672
683
636
723
954
685
738
703
951
964
601
Orders, unfilled, end of month
do
532
233
509
449
532
566
406
261
368
Production!
_ _.
__do
450
392
588
527
532
531
44]
597
394
413
253
217
357
460
578
556
Shipments!
do
526
362
375
385
375
378
370
392
381
409
400
393
398
Stocks, end of month
do
368
'Revised.
§Data continue series published in the 1942 Supplement but suspended during the war period; data for October 1941-February 1945 will be published later.
f See note for boots and shoes at the bottom of p. S-23 of the July 1945 Survey regarding changes in several classifications and note marked "$" on p. 28 of that issue regarding
other revisions; revisions for January-May 1943 and January-April 1944 have not been published and will be shown later.
!Revised series. The following lumber series have been recently revised to adjust the monthly figures to 1944 totals for production compiled by the Bureau of the Census.: Data
beginning January 1944 for production, shipments, and stocks for total lumber, total hardwoods, and total softwoods and production shipments, and new orders for Southern pine
and western pine and 1944 data for production, shipments, and stocks of West Coast woods (1945 data for West Coast woods are subject to further revisions). Earlier lumber data
were previously adjusted to 1941-43 Census data and revisions have been published only in part (see note in April 1946 Survey). All unpublished revisions through February 1945
will be shown later. The Southern pine price series are shown on a revised basis beginning in the February 1946 Survey; each represents a composite of 9 individual series; the specifications given above apply to data collected beginning February 1945; earlier data were computed by linking slightly different series to the current data.
S-32
SURVEY OF CURRENT BUSINESS
Unless otherwise stated, statistics through 1941
and descriptive notes may be found in th«
1942 Supplement to the Survey
1946
May
July 1946
1946
1945
May
June
July
August
Sep.
tember
October
Novem- December
ber
January
February
March
April
LUMBER AND MANUFACTURES—Continued
~ SOFTWOODS—Continued
Redwood, California: t
Orders, new
Orders, unfilled, end of month
Production
Shipments
__.
Stocks, end of month
M bd. ft.
do._.
..do...
-do.,.
do.,.
4,160
97,769
3,912
4,275
73, 520
Softwood plywood:*
Production
-thous. of sq. ft., %" equivalent.
Shipments
_
do...
Stocks, end of month
do.._
127, 284
129, 599
27, 543
30, 301'
97,581
36, 343
37,191
61,640
36,653
100,342
35,108
34,436
60,145
38,071
107, 552
30,695
30,843
58,321
30,966
79,025
34,645
35,864
55,495
30,599
80, 235
32, 773
29,581
56,569
30,892
81, 407
34,012
32, 508
55, 459
31, 709
85, 572
33,442
28,019
60, 335
20, 572
81, 947
26, 724
21, 495
76,006
20,248
91,979
9,858
11,207
75,231
8,179
98, 314
795
1, 854
74,165
4,370
100, 288
1,286
2,267
73, 298
122,163
121,018
30, 103
121, 283
124,795
25, 907
85, 579
81,966
28,055
113,633
112,050
29,612
89,656
91,547
27,942
67,462
66,342
29,235
58, 237
57,862
29, 292
75, 462
75,904
27,807
107, 347
104,144
30,637
98,096
98, 619
29, 896
109,200
105, 999
32,983
63
51
51
47
51
52
55
56
56
59
62
64
1
53
146
70
41
5
16
78
46
17
3
16
74
46
17
4
9
70
45
13
3
12
70
49
13
3
16
67
51
17
5
21
64
60
20
7
30
64
60
18
2
17
68
61
15
1
31
84
64
22
1
36
108
69
31
1
38
115
70
37
327,805
5,480
123,435
8,065
487, 240
6,397
104,116
4,770
451,046
8,568
92,638
1,607
557,360
4,768
78, 584
1,208
314, 797
9,322
85, 795
3,459
349,317
10, 662
212,138
9,584
SOFTWOOD PLYWOOD
FURNITURE
All districts, plant operations
percent of normal.
Grand Rapids district:
Orders:
Canceled
.percent of new orders.
New
no. of days' production.
Unfilled, end of month
do...
Plant operations
percent of normal.
Shipments
no. of days' production.
METALS AND MANUFACTURES
IRON AND STEEL
Foreign traded
Iron and steel products:
Exports (domestic), total
Scrap
Imports, total..
Scrap
short tons.
do...
do...
do___
538, 414 403,912 470,987
11,286
10, 266 11,502
149, 288 148,460 156,408
3,032
4,383
6,828
407, 225 344, 697
8,448
9,397
119,915 102,163
2,717
2,531
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.--
5,347
2,949
2,398
4,174
1,327
2,847
4,944
2,704
2,240
4,120
1,312
6,872
11,121
20,715
18,584
2,131
101
56
6,397
10,621
24,847
22,419
2,429
103
46
4,686
2,608
2,078
4,044
1,278
2,766
3,989
2,169
1,820
4,225
1,354
2,871
3,995
2,228
1,767
4,144
1,319
2,825
4,331
2,283
2,048
3,950
1,204
2,746
4,378
2,346
2,032
3,943
1,239
2,704
4,129
2,233
1,896
3,742
1,215
2,527
6,532
11,372
29,485
26,677
2,808
125
69
5,658
10, 732
34,781
31,533
3,248
187
51
5,837
10, 543
39,549
35,684
3,865
118
56
4,491
9,827
45,090
40, 537
4,553
199
51
5,612
4,145
44, 706
39,891
4,815
116
46
6,099
71
39,059
34,660
4,399
109
51
2 4, 538
2 2,326
2 2,212
4,491
1,376
3,115
Ore
Iron ore:
Lake Superior district:
Consumption by furnaces
thous. of long tons..
Shipments from upper lake ports
do
Stocks, end of month, total
I
do
At furnaces
do
On Lake Erie docks
_
do
Imports §
do
Manganese ore, imports (manganese content)!-..do
2,990
3,616
23,905
21, 075
2,830
3,719
0
35, 342
31, 215
4,127
78
33
1,748
0
33, 647
29, 606
4,041
75
24
6,021
0
27, 601
24,100
3,501
81
60
Pig Iron and Iron Manufactures
Castings, gray iron:*
,
Shipments, total...
_
short tons.. 757, 041
For sale
_
_
do
454,194
Unfilled orders for sale
do
2,491,811
Castings, malleable:©*
Orders, new, for sale
do
37,211
Orders, unfilled for sale
,
do
277, 345
Shipments, total
_
_
do
62, 540
For saledo
34,921
Pig iron;
Consumption*...
thous. of short tons..
Prices, wholesale:
Basic (valley furnace)
dol. per long ton.. 26.00
Composite
do..
26.67
Foundry, No. 2, f. o. b. Neville Island*
.do
26.50
Production*
thous. of short tons,.
2,275
Stocks (consumers* and suppliers'), end of month*
thous. of short tons..
866, 951 849, 449 748,790 750,050 717,768 767,209 751,092 678,091 706, 319 541,177 796, 068
542, 337 543,788 468, 017 462, 364 434,416 461,720 445,952 397,529 446,567 368, 384 505, 431
2,031,318 2,015,625 2,015,005 1,817,801 1,754,515 1,741,981 1,847,468 1,877,095 2,076,994 2,152,766 2,265,336
4,249 34, 246 1-18,642 16,275 47,020
34, 839
44,507 47,411
31,104 r 49,561
328,471 285, 210 284, 017 232,136 219, 905 229,618 227, 309 236,648 245,878 247, 644 263, 227
79, 565 71, 992 55,813
52, 647 46,960 59,096
57, 315 51, 963 54,191
40,156 r 50, 235
52, 789 47, 510 35, 439 33, 239 28,506
37, 307 36, 007 35,168 38,181
29, 338
33,978
4,505
4,594
3,969
4,918
3,525
4,062
4,080
4,090
2 3, 664
24.50
25.17
25.00
5,016
24.50
25.17
25.00
4,605
24.50
25.17
25.00
4,801
24.50
25.17
25.00
4,249
24.50
25.17
25.00
4,227
24.80
25.40
25.19
3,388
25.25
25.92
25.75
4,026
25.25
25.92
25.75
4,323
1,275
1,318
1,346
1,527
1,527
1,247
1,124
1,192
25.25
25.92
25.75
2,645
25. 25
25. 92
25.75
1,148
25.63
26.32
26.20
4,424
1,257
Steel, Crude and Semimanufactured
Steel castings :f
Shipments total
short tons.. 129, 211 192,921 173,685 139,315 131,411 114, 613 130,344 123,048 115, 239
99,058
57,423 101,396
For sale, total
do
91,409
85, 391
77,071
94, 630 ••149,623 129,193 102,428 r 98,080 ' 83,751 99,495
45,151
80,843
25,
778
27,173
Railway specialties
...do
27,
652
26,
077
j
26,071
29,391
28,160
25,939
22, 645
28, 547
8,879
21,905
r
J
2
Revised.
Cancellations exceeded new orders by the amount shown above.
Total for January and February.
° Data not available.
X All but 2 of the reporting mills have been closed by strikes since the middle of January.
§Data continue series shown in the 1942 Supplement but suspended during the war period (it should be noted that data for iron and steel are shown in Ion? tons in that T
data for
October 1941-February 1945 will be published later.
d1 Since Jure 1944 the coverage of the malleable iron castings industry has been virtually complete (see note in April 1946 Survey regarding earlier data); total shipments include
shipments for sale and for use by own company, an affiliate, subsidiary or parent company. New orders for sale has been substituted for total new orders which has been discontinueddata beginning November 1944 for unfilled orders and beginning 1936 for new orders and shipments for sale will be published later.
*New series. Data beginning September 1941 for softwood plywood are shown on p. 16 of the September 1944 Survey. For a description of the series on scrap iron and steel
and pig iron consumption and stocks and 1939-40 data, see note marked "*" on p. S-29 of the November 1942 Survey; later data are available on p. S-30 of the April 1942 and subsequent
issues. The series on pig iron production is approximately comparable with data in the 1942 Supplement (data in the Supplement are in short tons instead of long tons as indicated)see p . S-30 of the May 1943 Survey for further information on this series and data for 1941-42. The pig iron price series replaces the Pittsburgh price, delivered, shown in the Survey
prior to the April 1943 issue. Data for gray iron castings represent industry totals beginning in the June 1946 Survey; see note in that issue.
**! f Revised series. Data for steel castings have been adjusted to industry totals based on monthly reports for the larger foundries which account for around 95 percent of the total
tonnage shipped and annual reports for 1945 from the smaller foundries; data include high manganese and high alloy heat or corrosion resistant steel castings not included in earlier
figures for commercial castings shown in the Survey; comparable industry totals for January-April 1945 are as follows: Total shipments—Jan., 210,212; Feb 191 361- Mar 222 591*
Apr., 197,737; shipments for sale, total—Jan., 165,116; Feb., 152,082; Mar., 173,506; Apr., 154,883; railway specialties—Jan., 24,163; Feb., 22,163; Mar., 26,173; Apr.,' 23,093. Data for
January-September 1945 for shipments for sale are based on production but production and shipments for this period were very nearly equal. Data reported prior to 1945 for total steel
castings for sale, or commercial steel castings, were estimated to represent around 95 percent of the total tonnage shipped for sale; the coverage for railway specialties was practically
complete. The series on total shipments, which includes shipments for sale and for own use, is a new series; data on new orders have been discontinued.
SURVEY OF CURRENT BUSINESS
July 1946
Unless other-wise stated, statistics through 1941
and descriptive notes may be found in t h e
1942 Supplement to the Surrey
1945
1946
May
S-33
May
June
July
August
1946
September
October
Novem- December
ber
January
February
March
April
METALS AND MANUFACTURES—Continued
IRON AND STEEL—Continued
Steel, Crude and Semimanufactured—Continued
Steel ingots and steel for castings:
Production..
thous. of short tons._
Percent of capacity§
Prices, wholesale:
Composite, finished steel
_
__dol. per l b . .
Steel billets, rerolling (Pittsburgh). _.dol. per Ion? ton.
Structural steel (Pittsburgh)
dol. per lb__
Steel scrap (Chicago)
dol. per long ton..
Steel, Manufactured Products
Barrels and drums, steel, heavy types:®
Orders, unfilled, end of month
thousands..
Production.
do
Shipments
do
Stocks, end of month
...do
Boilers, steel, new orders:%
Area
thous. of sq.ft-Quantity
.number..
Porcelain enameled products, shipmentst thous. of dol_.
Spring washers, shipments.
do
8teel products, net shipments:©
Total
thous. of short tons. .
Merchant bars
do
Pipe and tube
do
Plates
.do—.
Rails.
do
Sheets
do
Strip—Cold rolled
...do
Hot rolled
...do
Structural shapes, heavy
do
Tin plate and terneplate
do
Wire and wire products
.do
4,073
52
7,452
92
6,842
87
6,987
86
5,736
71
5,983
76
5,598
6,201
79
6,059
75
3,872
50
1,393
20
6,507
83
' 5, 860
78
.0301
39.00
. 0235
18.75
.0272
34.40
.0210
18.75
.0275
36.00
.0210
18.75
.0275
36.00
.0210
18.75
.0275
36.00
.0210
18.75
.0275
36.00
.0210
18.75
.0275
36.00
.0210
18.75
.0275
36.00
.0210
18.75
.0275
36.00
.0210
18.75
.0275
36.00
.0210
18.75
37.50
.0223
18.75
. 0301
39.00
. 0235
18.75
.0301
39.00
.0235
18.75
8,632
1,861
1,875
24
7,130
2,143
2,145
51
8,985
2,028
2,036
43
8,646
1,851
1,851
43
4,132
1,903
1,902
44
3,756
1,551
1,557
38
4,012
1,694
1,693
40
4,645
1.823
1,825
38
5, 353
1,810
1,821
27
r 5,465
' 1,695
r 1, 7(5
19
5,989
839
839
20
6, 733
1,428
' 1,424
24
7,886
1,999
1,988
38
1,725
1,920
5,777
1,202
828
3,178
476
1,628
946
3,196
500
1,626
1,075
2,893
397
1,432
1,193
3,381
375
1,579
1,371
3,303
316
1,356
1,298
4,049
386
1,295
1,222
4.013
374
1,597
1,259
3,355
325
1,606
1,381
5,070
382
1,645
1,154
4,496
317
1,948
1,531
4,788
355
5,417
526
560
686
200
969
112
116
316
261
381
4,022
481
531
572
181
907
111
120
297
287
350
4,697
463
519
518
202
872
101
113
309
269
314
4,124
398
436
437
186
841
94
100
287
245
314
3,955
434
429
389
220
838
84
92
272
213
303
4,267
447
426
375
203
979
104
114
333
211
343
4,367
450
454
367
204
993
108
120
324
209
350
4,298
435
417
387
204
931
104
111
331
210
338
i 4,379
1453
1401
1341
i 149
11,044
U37
U38
1278
1267
1356
4,214
454
418
371
177
924
106
117
327
249
327
F **
' 1, 993
' 2,049
\&,151
407
4,336
439
457
361
166
973
118
100
340
265
351
NONFERROUS METALS AND PRODUCTS
Aluminum:
52,942 104, 515 77,566 106,260 42,444 54,947 40,967 38,213 66.794
38,322 52, 329 55, 598
Imports, bauxite 1
long tons.
.0375
.0375
.0475
.0475
.0375
.0375
.0385
.0375
.0375
.0375
.0375
.0375
.0375
Price, wholesale, scrap castings (N. Y.)_.dol. per Ib._
194.5
172.3
109.2
229.7
99.4
106.5
60.9
66.5
57.9
65.2
Aluminum fabricated products, shipments*-mil. of lb_.
63.8
80.8
Bearing metal (white-base antifriction;, consumption
4,998
5,445
4,404
4,541
6,251
5,185
4,435
5,544
4,975
and shipments, total
_
thous. of lb_.
3,968
4,760
1,303
1,187
1,293
1,333
1,170
1,101
1,335
1, 493
1,046
1,304
Consumed in own plants*
do...
1,073
3,218
4,918
4,152
2,868
3, 265
3,881
3,687
4,051
3,495
3,640
Shipments*
do .
.195
.195
.221
.195
.195
.195
.195
.195
.195
.195
.195
Brass sheets, wholesale price, mill
.dol. p e r l b .
.195
Copper:
6, 267
6,219
7,336
18, 945 10,320 10,259
9,511
12, 427
10,966
10,908
7,301
Exports, refined and manufactures 1.
short tons.
72,470 114, 562 64,710 70,423 82,366
8,194 25,164
80,819
50,860 56,469 60,026
13,560
Imports, total 5
do
1,774
1,906
3,481
1,104
4,353
4,309
4,588
2, 2.H2 35,657
5,392
2,407
1,760
For smelting, refining, and export 5
do
4,712 24,060
76,0] 8 70,564 112,788 60,401
65,835
44,369
11,800
76,974 48,452 54,217
For domestic consumption, total 1_.
.do
12,480
814
31,882 21,626 59,469 31,118 27,909 22,982 11,869
3,701
20,368
5,782
Unrefined, including scrap 1
do.
3,898 20, 358
44,135 48,938 53,319 29,283 37,925 53,993 36,584 41, 737 24,001
6,020
Refined 1
do.
.1178
.1178
.1178
.1178
.1178
.1178
.1178
.1178
.1178
.1178
.1178
.1178
Price, wholesale, electrolytic, (N. Y.)
dol. perlb..1178
Production :<?
72,271
72,855
68,253 64,091
58,178
41,667 41, 832 ' 29, 280
74,469
69,322 65, 586 62, 641
Mine or smelter (incl. custom intake)-.short tons.. 31,712
18,989
20, 551
69,008
49,923 20,139
85, 319 74,377 72,995 69,127 45,145 70,363 70,218 66,062
Refinery
do
75, 756
94,031 88,661
93,647 139, 203
83,478 104,104 119,973 103,464 115,601
86,089 58, 590
Deliveries, refined, domesticcT
do
65, 448
70,738 76,166
75, 754
72, 799
74,339 70, 249
63,841
80,316 68,675 73,913 74,425 76, 512
Stocks, refined, end of monthcf
-.do...
Lead:
7,506
6,526
28,398 31,861 37,698 28,644 40,754 27,164 22,942 25,199
17,669
12,291
Imports, total, ex-mfrs. (lead content) 1_
do___
31,668 26,945 32,978 32,812 31, 580
31, 550
34,652 31,803 31,616
Ore, domestic, receipts (lead content)©".
do...
Reflned:
.0650
.0650
. 0650
.0650
.0650
.0650
.0650
. 0650
.0650
.0650
. 0650
.0650
Price, wholesale, pig, desilverized (N. Y.)~dol. per lb..
.C650
23, 766
51,054
41,643 25,336
40,300 32,691
35,923
45,399
45,848 38,626
47,462 47,824
Production, totalcf
_
short tons.. 19, 530
22, 726
40,070 24,179
49.795
18, 393
33,232 27,552 34,699 42,005 39,991
38, 298
42,126 34,513
From domestic ored*
do
48,257 28, 702
23, 941
39,658
44,806
21, 720
36,597 33, 517 39,701
44,347 44, 766
44, 304
40,585
Shipmentsd*-—
.do...
45,312 41,939
51,929
41, 758
40,310 36,514
39, 563
41,145
43, 746
42,671
38,488 37, 452
Stocks, end of months
do...
Tin:
Imports: 1
4.483
5,074
3,340
4,000
673
3,917
1,151
7,540
4,166
5,277
811
3,763
Ore (tin content)...
long tons.
213
0
1,600
1,450
1,000
0
0
100
0
0
94
'22
Bars, blocks, pigs, etc
do
.5200
.5200
.5200
.5200
.5200
.5200
.5200
.5200
.5200
.5200
.5200
.5200
.5200
Price, wholesale, Straits (N. Y . ) . . . .
dol. per lb_.
Zinc33,878
27,662 44,766
31,962 36,229
50, 237 42,000 46,908
31,522
21,052 39,481
31,826
Imports, total (zinc content) J
short tons
3,102
2,993
735
312
161
0
560
621
1,881
For smelting, refining, and export 1
do
1,111
178
For domestic consumption: f
18, 291
42, 446 26,757 38,055
13,069
20,450
14,300 29,031
26,607
12,005 28,365
Ore (zinc content)
do...
12, 485
5,982
7,791
8,232
14,683
10,337
17,646
13,050 12, 742
5,177
8,164
9,235
Blocks, pigs, etc...
do...
Price, wholesale, prime, Western (8t.
.0825
,0825
.
0825
.0825
.0825
.0825
.0825
. 0825 .0825
.0825
.0825
.0825
.0825
Louis).
dol. per lb.
60, 903
64, 753 61,600 65, 614 64, 337
66,162
65,901
61, 274 71,612
Productiond"
short tons_. 62, 416 69,440 66.607 65,830
83,
693
'
73,191
48,255
62,
324
58, 635
54,856
69, 680 66,972 54, 477 51,909
41,881
53, 224 54,449
Shlpmentscf1
do.
48,084 41,410 52,052 51, 326
54,023 51.803
41, 349 66,159 r 60, 809
56,180
47,169
60, 571
Domesticd '
do_
241, 442 171,007 183,137 197,058 213, 556 233,275 245,665 255, 553 259,391 266, 657 273, 075 260, 994 •248,706
Stocks, end of monthcP
do.
r
l
Revised. Total for January and February. < Discontinued by reporting source. ® Beginning 1943 data have covered the entire industry.
§ For 1946 percent of capacity is calculated on annual capacity as of Jan. 1,1946, of 91,890,540 tons of open-hearth, Bessemer, and electric steel ingots and steel for castings; 1945 data
are based on capacity as of Jan. 1, 1945 (95,501,580 tons).
X Based on information recently available it is estimated that data beginning 1945 represent substantially the entire industry; in prewar years the coverage was about 90 percent.
• See March 1944 Survey for comparable data for 1942; the series now covers 57 manufacturers (two formerly reporting discontinued production of bearing metal).
0 Total shipments less shipments to members of the industry for further conversion; data prior to 1944 were net production for sale.
1 Data continue series published in the 1942 Supplement but suspended during the war period; data for October 1941-February 1945 will be published later,
cf For data for January 1942-April 1944 for the indicated copper, lead and zinc series, see p. 24 of the June 1944 Survey.
*New series. Data for aluminum fabricated products cover total shipments of castings, forgings, sheet, strip, plate, rods, bars, and other wrought products, exclusive of products
shipped to other manufacturers for further fabrication into other wrought products; data were compiled by the War Production Board through September 1945 and by the Bureau of the
Census thereafter. Data have been revised beginning January 1945 to include estimated industry totals for castings based on monthly reports from the larger founderies and annual
reports for 1945 from the smaller ones. Data for castings included in the totals prior to 1945 are estimated to cover about 98 percent of the industry but the small amount omitted
affected the combined total for castings and wrought products only slightlysince the former represented only about one-fifth of the total. The coverage of wrought products is virtually
complete; weights for some wrought products were gathered at a different stage of manufacture beginning October 1945, but it is believed that the comparability of the totals is not
seriously affected. For revised figures for early months of 1945, see p. S-33 of the June 1946 issue.
SURVEY OF CURRENT BUSINESS
S-34
Unless o t h e r w i s e s t a t e d , s t a t i s t i c s t h r o u g h 1941
a n d descriptive n o t e s m a y be f o u n d i n t h e
1942 S u p p l e m e n t " t o t h e Survey
1946
1945
1946
May
July 1946
May
June
July
August
September
October
Novem- December
ber
January
February
March
April
METALS AND MANUFACTURES—Continued
M A C H I N E R Y AND A P P A R A T U S
Electric overhead cranes:§
Orders, new._
thous. of dol..
Orders, unfilled, end of month
do
Shipments
do
Foundry equipment:
New orders, net total
1937-39=100...
New equipment
_.do
Repairs
do
Heating and ventilating equipment:
Blowers and fans, new orders
thous. of dol-.
Oil burners:©
Orders, new, not
number..
Orders, unfilled, end of month
do
Shipments
.
do
Stocks, end of month
do
Mechanical stokers, sales:J
Classes 1, 2, and 3
do
Classes 4 and 5:
Number
Horsepower
Unit heater group, new orders*
. . . t h o u s . of dol.
Warm-air furnaces (forced air and gravity flow),
shipments*
number.
Machine tools, shipments*
thous. of doL
Pumps and water systems, domestic, shipments:^
Pitcher, other hand, and windmill pumps
units..
Water systems, including pumps
do
Pumps, steam, power, centrifugal, and rotary:
Orders, new
thaus. of dol..
850
4,587
569
1,331
5,032
746
1,133
5,622
549
1,898
7,016
411
1,795
8,274
461
2,033
9,597
709
1,799
10, 690
675
1,366
11, 365
640
1,607
12,185
757
1,386
12, 772
786
1,422
13, 396
781
404.7
347.6
606.6
375.4
306.7
618.2
411.7
386.9
499.2
532.2
539.1
508:4
577.2
617.2
436.9
457.8
456.8
461.6
416.6
419.4
406.8
547.6
600.8
360.8
392.8
391.1
391.7
432.8
458. 7
342.6
536.6
576.7
351.8
14, 854
59, 290
10,338
7,312
24, 903
71, 535
12, 658
24, 201
84, 575
11,161
5,990
81, 766
151, 822
14,519
6,670
80,100
211, 799
20,123
6,422
50, 895
235, 073
27, 621
5,435
58, 075
266, 976
26,172
5,279
32,150
277,211
21,915
6,166
14, 688
7,525
8,512
8,531
10, 575
14, 352
19,493
21,434
13, 746
14, 007
14, 328
16, 038
14, 399
303
80, 586
341
72, 926
327
67,827
4,199
425
105,311
446
83.491
428
90,088
5,581
465
94, 777
400
76, 520
331
63, 380
8,526
246
59,382
248
69,070
275
73, 717
345
88, 485
26, 580
29, 494
39, 825
32, 764
41,040
27, 540
32, 504
33,410
32,500
34,871
27, 300
40,165
31,200
41,465
26,084
33, 253
23, 276
37,789
30, 263
39,664
26, 949
47,100
27, 326
43,186
28,108
23,587
45,150
28, 807
33, 730
24, 570
33, 840
25,566
31, 364
25,088
32, 259
22,995
32,400
25,470
38,927
24,050
36, 529
23,600
33, 718
27. 563
46,094
24,093
37, 528
27, 231
44, 870
28,157
44,887
2,856
3,177
3,220
3,871
2,258
2,171
2,975
2,482
1,925
2,836
2,728
2,489
2,803
1,326
1.325
1,213
1,567
1,675
1,926
1,834
1,685
1,768
1,706
1,686
1,672
396
••323
••371
••243
294
252
'214
164
'256
206
'323
202
'254
227
345
217
213
187
222
224
429
4,513
353
5,795
8.431
783
5,329
9,952
889
4,301
4,192
386
3,336
7,092
701
2,005
8,104
690
2,659
5,856
624
2,556
7,626
613
3.144
6.343
570
2,694
6, 589
614
2,216
' 5, 786
604
2,759
5,616
7,577
4,760
5. 739
r 9, 793
6,304
6,737
4,866
2,699
' 10, 882
5,320
5,992
3,710
2,801
' 8, 362
5,224
6,012
3,621
1,315
' 8. 624
4,462
6,624
1,695
2,663
5,417
10,691
1,678
1,335
11, 383
3,365
5,818
565
779
14,109
3,243
6, 530
456
894
10, 887
5,924
12, 767
868 .
1,840 |
6,590 I
4,726
10, 222
600
1,414
12,940
4,237
1,322
4,147
1,321
3,120
1,029
3,372
1,067
3,017
746
2,490
825
3,152
875
4,093
921
4,359
1,265
4,222
1,104
4, 474
1,211
3, 389
1,138
1,465
1,535
3,017
1,401
1,225
2,877
1,314
1,070
2,627
1,294
1,354
2,687
1,286
1, oil
2,913
1,511
1,716
3,117
568,048
566,858
330,919
500,546
496, 036
326, 689
590,097
589, 511
326,238
555, 229
545, 602
316, 488
3,461
230,024
6,846
55,922
38, 609
99, 529
2,170
26,948
1,095
2,906
271,856 232, 963
7,817
5,780
100, 745
88, 447
36, 779
37, 299
99, 480
78, 483
1,740
1,943
25, 295
21,011
577.3
621. 7
426.2
14,151
10, 338
701.2
779.8
427.7
12,262
'82,489 138,828 ' 78, 941 127, 285
330.206 •442,220 498, 600 590, 942
34,943
' 29.494 ' 26, 814 ' 30,681
5,785
' 6, 531 ' 6, 256 ' 4, 691
ELECTRICAL EQUIPMENT
Battery shipments (automotive replacement only),
number*
_
thousandsElectrical products :t
Insulating materials, sales billed
1936«=100.
Motors and generators, new orders..
do...
Furnaces, electric, industrial, sales:
Unit
kilowattsValue
thous. of dol.
Laminated fiber products, shipments
do...
Motors (1-200 hp):
Polyphase induction, billings
do...
Polyphase induction, new orders
do...
Direct current, billings
do...
Direct current, new orders
do...
Rigid steel conduit and fittings, shipments! short tons.
Vulcanized fiber:
Consumption of fiber paper
thous. of l b .
Shipments
thous. of dol.
6,143
5,633
10,813
7,260
1,358
1,720
2,067
1,352
• 12,732 • 12, 900
6,105
527
2,738
PAPER AND PRINTING
PULPWOOD AND WASTE PAPER
Pulpwood:*
Consumption
Receipts, total
Stocks, end of month
Waste paper:*
Consumption
Receipts
Stocks
thous. of cords (128 cu. ft.)-_
do
do-..~
1,349
1,580
2,627
1,524
1,342
2,856
1,518
1,461
2,330
1,471
1,593
2,420
short tons. 620, 285
do
637, 231
do.-... 399, 938
612, 713
632, 093
331, 740
597,137
589, 702
324, 211
520, 824
534, 585
330, 473
15, 414
82, 888
3,877
7,685
23, 214
29, 985
1,437
16, 690
18. 720
24, 339
127, 603
3,758
29, 580
30, 340
46,843
1,595
15. 487
r
1, 512
'1,433
' 3, 038
616, 542 '606,662
637,199 '653,188
337, 518 '382,992
WOOD PULP
Exports, all grades, totalj
Imports, all grades, total %
Bleached sulphate t
Unbleached sulphate %
Bleached sulphite %
Unbleached sulphite \
Soda %
Groundwood t
short tons_
do
do-._
do
do
do I"
do
do
3,629
7,071
26, 423
31, 679
1,740
15, 547
6,37'
177,360
4,117
39,117
T45
73,754
1,707
19, 920
3,198
1.058
142.069 109, 769
5,322
5,213
31.741
11,435
38, 672
36,194
45, 242
37, 715
1,699
1,990
19, 502
17,113
1,359
118,276
4,783
10, 505
42, 638
36, 085
1,717
22, 548
Revised.
§ Revisions in unfilled orders for April-July 1942 are available on request; data cover 9 companies since September 1944; earlier data back to March 1943 covered 8 companies.
© Data are based on reports of 124 manufacturers accounting for practically the entire production of oil burners; in prewar years the reporting concerns accounted for around 90
percent of the industry.
f Data cover almost the entire industry; in prewar years the reporting concerns represented over 95 percent of the total.
• Includes unit heaters, unit ventilators, and heat transfer coils; the designation has, therefore, been corrected from "unit heaters" to "unit heater group" to avoid misinterpretation.
cf It is believed that data shown currently and also earlier data for these products are substantially complete.
t Data continue series published in the 1942 Supplement but suspended during the war period; data for October 1941-February 1945 will be published later.
*New series. The series on automotive replacement battery shipments are estimated industry totals compiled by Dun and Bradstreet; data beginning 1937 are available on
request. For 1940-41 and early 1942 data on machine tool shipments, see p. S-30 of the November 1942 Survey; data beginning August 1945 are estimated industry totals compiled by
the National Machine Tool
of warn:
. - Builders Association;, earlier data were compiled
^
— War Production Board. The new series -on ^shipments
.
;varm-air furnaces is compiled by the
rf by the
Bureau of the Census from reports by manufacturers accounting for almost the entire production; data beginning January 1944 will be published later. Data through August 1945
for the pulpwood series and for receipts and stocks of waste paper were compiled by the War Production Board; data beginning October 1945 for all series and earlier data for waste
aper consumption are compiled by the Bureau of the Census (waste paper consumption through September 1945 were compiled from reports to the War Production Board); September
. all. _series
. . _ . were
.
ier data for
estimated by that agency from partial reports to the War Production Board. Data cover all known producers of pulp, paper, and paper board; a small
proportion of the data is estimated.
fRevised series. The index for motors and generators includes adjustments for cancellations reported through December 1945; data published for this index prior to this issue
of the Survey and for the index for insulating materials prior to the April 1945 Survey, have been revised (revised April 1945 figure for the index of sales of insulating materials, 378);
all revisions are available on request. Data for rigid steel conduit and fittings have been revised to cover domestic sales only (some manufacturers formerly included export sales);
revisions through April 1945 will be published later.
SUKVEY OF CUKRENT BUSINESS
July 1946
Unless otherwise stated, statistics through 1941
and descriptive notes may be found in t h e
1942 Supplement to the Survey
1946
1945
1946
May
S-35
May
June
July
August
September
October
Novem- December
ber
January
February
March
April
799,092 706,376
71,683
64, 504
300, 726 246,570
132,878 119, 761
66,105
59, 715
38, 408 35,905
144,913 143,036
727,224
59, 004
230,809
136,813
64, 513
39, 553
155,756
720,239
63,011
250,454
127,991
58, 989
35,886
143, 333
855,139
78,144
320,300
140, 669
64, 546
41,320
163,110
849, 772
76,411
316, 854
141, 876
62,347
41,612
164, 589
67,026
3,855
7,340
15, 397
9,374
2,041
25, 638
74,295
6,970
6,556
18, 561
10,105
2,181
26, 253
74,906
5,203
7,119
17,362
8,786
2,645
29, 870
77,173
6,265
7,624
14, 834
8,451
2,711
34, 089
PAPER AND PRINTING—Continued
WOOD PULP—Continued
Production :f
Total, all grades
Bleached sulphate
Unbleached sulphate
Bleached sulphite
Unbleached sulphite
Soda
Groundwood
Stocks, end of monthif
Total, all grades
Bleached sulphate
Unbleached sulphate
Bleached sulpnite
Unbleached sulphite
Soda
Groundwood
short tons
do._.
do__.
do...
do__.
_do__.
do...
do_.
do_.
do_.
do...
do__.
do...
do__.
848,623 861, 850
78,670
73,592
307, 975 337, 513
149, 729 139,620
65, 518 ' 73,977
38,486
40, 000
161, 044 149, 555
813,100
69,397
326,053
131, 380
70, 809
33, 567
134, 207
739,080
66,984
298,165
112,927
65,986
33, 270
117, 648
772, 677
69. 294
311,639
124,205
65, 355
35, 538
123, 214
730,426
65,963
285,689
117,855
64,130
35,147
118,905
820, 913
77,440
317,101
136, 793
67,011
39,218
136,623
88, 446 ' 86,910
81, 588
7,358
6,321
4,749
8,055
9,009
7,135
17,481
15,411
13, 099
11,181
' 8, 552
8,048
2, 976
3,128
3,469
37, 983 M l , 609
42,025
78, 371
4,238
7,616
14, 527
8,742
2,146
38, 294
72, 421
4,534
10. 309
13, 338
8,053
2.104
31, 358
67,840
4,010
65,680
6,009
7,542
13, 605
9,704
2,218
23, 024
14,045
9,121
2,279
26,209
69,253
5,471
14,400
10,033
1,959
24, 321
71,195
3,999
8,894
17,105
9,461
1,933
26,481
PAPER AND PAPER PRODUCTS
All paper and paperboard mills:*
Paper and paperboard production, total-.short tons.. 1,620,157
820, 510
Paper
do
799,647
Paperboard
do
106, 515
Building board
do
Paper, excl. building paper, newsprint, and paperboard
(American Paper and Pulp Association):!
Orders, new
short tons__ 655, 812
Production
do
687, 827
Shipments
do
Fine paper:
88, 502
Orders, new
do
151, 265
Orders, unfilled, end of month
do
97, 750
Production
do
99, 036
Shipments
do
56,153
Stocks, end of month
do
Printing paper:
216, 328
Orders, new
do
232, 661
Orders, unfilled, end of month
do
231,180
Production
do
231, 292
Shipments
do
56, 497
Stocks, end of month
do
Wrapping paper:
255, 402
Orders, new
do
196, 099
Orders, unfilled, end of month
do
260,109
Production
do
257,884
Shipments
do
73,172
Stocks, end of month
do
Book paper, coated:
Orders, new
percent of stand, capacity-.
Production
do
Slijpments
do
Book paper, uncoated:
Orders, new
do
Price, wholesale, " B " grade, English finish, white,
8.00
f. o. b. mill
dol. per 100 lb_.
Production
percent of stand. capacityShipments
do
Newsprint:
Canada:
Production
_..short tons 359, 943
367, 251
Shipments from mills
do
111,759
Stocks, at mills, end of month
..do
United States:
261, 484
Consumption by publishers
__.do.
Imports^
do.
67.00
Price, rolls (N. Y.)___
dol. per short ton..
Production
short tons.. 65, 927
65, 699
Shipments from mills
do.
Stocks, end of month:
6, 846
At mills
do.
210, 276
At publishers..
do.
59, 257
In transit to publishers
do.
Paperboard (National Paperboard Association):%
717,331
Orders, new
do
567, 068
Orders, unfilled, end of month
do.
703, 422
Production
do.
94
Percent of capacity
Waste paper, consumption and stocks:§
Consumption
short tons.. 408,173
259, 832
Stocks at mills, end of month
do
Paper products:
Shipping containers, corrugated and solid fiber, shipments*
mil. sq. ft. surface area..
Folding paper boxes, value:*
379.6
New orders
.1936=100..
338.4
Shipments
...do
1,513,408 1,476,679 1,350,681 1,454,218 1,409,470 1,570,975 1,503,923 1,369,516 1,508,961 1,428,745 1,638,097
720,074 702,025 645,786 711,451 690,643 783,339 760,310 709,444 782,844 720, 336 819, 320
793,334 774, 654 704,895 742, 767 718,827 787,636 743,613 660,072 726,117 708,409 818, 777
94,495 106, 443
96,212
96,072
94,117 101, 763
91, 716
96,874
98,648
89,293
87,831
559,490
580,668
572,147
566, 387
566, 214
569, 281
551,732
520,970
513,142
558, 309
580,980
580,713
552, 798
559, 251
559,923
659, 293
639,950
628,677
79, 783
76, 291
92,031
168,745 180,092 176, 477
84, 873
75, 538
82,163
82, 531
74. 863
84,842
43, 816 r 43, 348 44,013
71.972
71,047
92,405
158,803 145,125 135,498
83. 471
81, 464
91,916
82, 418
79, 946
86, 111
44, 745 «• 47, 064 49, 509
161,686
160,167
176,460
170,092
57,817
1,628,857
"813,674
•815,183
• 108, 287
682,014
644,266
653,559
593,256
591,121
592, 627
700,693 •680,612
681, 001 •666,902
682, 398 664,648
83, 498
79, 761 101,382
140, 438 129,598 135,896
93,479
92,351
85, 743
93,017
94,431
79,314
55, 904 ' 62, 335 55,963
83,681
136,513
84,450
85,596
57,412
104,902
149,408
* 92, 218
r 96,129
r 53, 721
• 108, 272
163,415
»• 95, 711
r 92, 544
«" 57, 226
587,104 553,553
619, 717 580,487
616, 249 563, 008
170, 041
156,175
174, 398
176,610
56, 443
170, 215
169, 262
154,752
152,125
58, 819
179, 339
176,948
179, 770
178,478
60,239
185,158
193, 236
172,037
174, 664
58,676
223, 472 184, 014
212, 356 196,654
205, 359 200, 557
202,857 198,476
61, 288 62,627
171,937
179,989
191,434
187, 420
64,962
247,377
247,788
219.785
221, 406
57, 996
203, 257 234, 395
250,553 261,171
198,199 227,104
198,897 223,972
56, 942 r 58, 298
• 228, 008
•259,559
227,113
•228,357
r 56,963
226,983 220,428
228, 340 217,174
227,612 223, 410
227,225 222, 677
62,942 ' 61, 575
224, 378
242, 766
210,973
207, 255
68, 713
217,128
227,045
227. 472
228. 503
67,955
207,059
219, 338
217,861
216, 830
67, 395
242,857 228,184
209, 772 213.983
242, 786 233, 507
240,026 232.984
66,090
216,125
207,920
214, 719
209,993
72,490
231,270
192,175
232, 704
238,186
67,047
215,089 262, 247
190, 398 205,926
217,692 262, 799
217,859 264, 054
68,273 ' 75,122
246,971
• 199, 605
•246,838
247,315
r
71, 004
56.1
55.6
56.2
58.1
58.1
57.1
69.2
68.1
66.9
60.5
67.7
66.7
62.6
64.7
67.0
56.4
61.3
55.5
55.8
53.7
55.4
55.2
50.3
52.7
74.9
81.9
81.2
77.0
89.5
100.0
89.2
92.9
7.30
81.2
78.3
7.30
82.4
83.0
7.30
77.2
75.8
7.30
80.4
80.3
7.30
83.5
84.3
7.30
93.8
92.0
7.30
97.2
96.1
7.30
96.4
93.5
264,464
264, 767
89,653
266, 417
258, 348
97,722
270, 640
282,065
86, 297
287,028
304,114
69, 211
277,018
62,156
310,975
308,090
65,041
205. 797 190, 511
224, 295 212,814
61.00
61.00
63,768
60,828
63,498
56,492
177,905
239,974
61.00
57,081
58, 311
202, 911
236, 378
61.00
56,518
58, 201
213, 294
218,399
61.00
56, 722
59, 802
6,403
10, 739
240, 437 245, 518
43, 539
40, 459
9,509
263. 277
46, 865
7,826
275, 338
47, 399
705, 924
546, 211
706, 479
657,211
499, 505
683,957
655,365
507,758
610,126
86
416, 605
194,395
405, 773
191, 285
351,805
198,554
7.58
8.00
8.00
8.00
299,158
298,005
66,194
276,931 328,414
262, 765 316,320
92,454
80,360
308, 382
285, 304
115, 532
334,127
320, 351
129, 308
337, 862
348,103
119, 067
236,939
263,457
61.00
62,267
60,101
236,090
206,659
61.00
62,602
62,186
225,378
232,618
61.00
61, 563
62, 551
221, 054 223, 244
244, 469 238,888
67.00
67.00
67,819
60, 564
66,102
59,015
267, 711
269. 795
67.00
65, 304
67, 658
258, 984
285,017
67.00
67, 064
67,698
4,746
258, 752
55, 215
6,912
254,834
7,328
246, 227
47, 556
6,340
222, 266
44,078
8,057
221,957
55,206
9,606
216,241
60,277
6,618
7, 252
198,122 201, 776
55, 341
56,332
665, 380
494.699
659.672
90
629,899
492, 880
619, 388
91
704,867
511,022
704,564
97
653,196 601, 526
472, 568 462, 446
664, 076 583,569
95
85
685,788
516, 776
624,862
90
641,342
533,794
614,867
97
754, 872
549, 929
710, 987
100
747,907
553. 274
716, 274
99
383,116
190, 810
366. 642
187,185
412, 472
203,657
385, 249
204, 675
347,495
199,353
397,534
204,736
372,489
193,885
412,718
211, 335
413,131
238, 597
4,112
4,124
3,751
4,141
4,147
4,774
4,421
4,047
4,800
4,345
4,923
5,078
268.3
279.4
250.8
272.0
235.2
239.6
240.4
262.5
243.6
254.5
273.4
303.7
302.7
288.3
274.5
260.7
347.7
301.3
324.8
283.1
397.0
322.1
389.5
338. 0
557
465
92
590
502
365
315
50
401
312
89
582
483
99
534
443
91
536
477
59
731
609
122
348
281
67
465
368
97
638
664
539
125
PRINTING
Book publication, total
New books
New editions
no. of editions..
_do
do
682
553
129
<• Revised. §See note in April 1946 Survey for basis of data.
{For revisions for January 1942-March 1943, see note for paperboard at bottom of p. S-36 of July 1944 Survey.
^Data continue series published in the 1942 Supplement but suspended during the war period; data for October 1941-February 1945 will be published later.
fRevised scries. Revised woodpulp production for 1940-43 and sulphite stocks for all months of 1943 are shown on p. 20 of the December 1944 Survey; revised,1942 stock figures
for all series are on pp. 30 and 31 of the June 1943 issue. The data exclude defibrated, exploded and asplund fiber stock data are stocks of own production at mills. The paper series
from the American Paper and Pulp Association beginning in the August 1944 Survey are estimated industry totals and are not comparable with data shown in earlier issues; there
have been further small revisions in the 1943-44 data as published prior to the June 1945 issue; these revisions and earlier data will be published later.
*New series. The new paper series are from the Bureau of the Census and cover production of all mills including producers of building paper and building boards; for 1942 monthly
averages and data for the early months of 1943, see p. S-32 of the August 1944 issue. For data beginning 1934 for shipping containers, see p. 20 of the September 1944 Survey. For
data beginning
June 1943 for folding paper boxes, see p. S-32 of the August 1944 Survey; earlier data will be published later. Minor revisions in the January-May 1944figuresfor
folding paper boxes and January 1943-May 1944 data for shipping containers are available on request.
http://fraser.stlouisfed.org/
Federal Reserve Bank of St. Louis
SURVEY OF CURRENT BUSINESS
S-36
Unless otherwise stated, statistics through 1941
and descriptive notes may be found in the
1942 Supplement to the Survey
1946
May
July 1946
1945
May
June
July
August
1946
September
October
Novem- December
ber
January
February
March
April
PETROLEUM AND COAL PRODUCTS
COAL
Anthracite:
Exports §
thous. of short tons_.
Prices, composite, chestnut:
Retail
dol. per short ton_.
Wholesale
...do
Production:}:
thous. of short tons..
ptocks, producers' storage yards, end of mo
do
Bituminous:
Exports §
do
Industrial consumption and retail deliveries, total
thous. of short tons..
Industrial consumption, total
do
Beehive coke ovens
do
Byproduct coke ovens
do
Cement mills
do
Electric power utilities
do
Railways (class I)
do
Steel and rolling mills
do
Other industrial
do
Retail deliveries
do
Other consumption:
Vessels (bunker) §
do
Coal mine fuel
do
Prices, composite:
Retail (34 cities)^
dol. per short ton._
Wholesale:
Mine run
do
Prepared sizes
do
Production!
thous. of short tons..
Stocks, industrial and retail dealers, end of month,
total
thous. of short tons..
Industrial, total
do
Byproduct coke ovens
do
Cement mills
do
Electric power utilities
do
Railways (class I)
do
Steel and rolling mills
do
Other industrial
do
Retail dealers, total
„__
do
127
322
334
13.89
11.764
r 5,667
180
14.90
12. 214
' 4,944
174
311
14.91
12.233
' 4, 656
198
336
365
404
317
14.93
14.92
15.06
12. 281 12. 281 12. 389
«• 5,304 ' 4, 559 r 3,998
140
132
130
314
15.26
12. 469
4,788
192
2,208
2,813
3,130
3,633
51, 679
38,446
612
7,333
467
5,804
11,005
921
12,304
13, 233
51,826
36, 542
631
5,299
471
5,706
10, 976
552
12, 907
15, 284
46. 244
31, 281
570
3,744
441
4,929
9,827
683
11,087
14, 963
43, 627
35, 382
719
7,101
503
5,110
10, 391
815
10, 743
8,245
13.87
11.476
r 2,083
219
2,763
2,902
2,929
2,838
3,681
2,898
3,471
28, 493
25, 027
32
3,647
437
4,585
7,904
546
7,876
3,466
46,080
37,252
867
7,868
313
5,984
10,683
859
10, 550
8,828
42, 850
35,046
869
7,343
321
5,971
10,066
762
9,590
7,804
41, 733
34, 553
852
7,695
336
6,065
10,061
747
8,679
7,180
41, 444
33,553
707
7,181
379
6,016
9,727
693
8,850
7,891
39, 485
31, 547
464
7,130
401
5,315
9,254
673
8,310
7,938
41,054
32,124
311
5,617
434
5,566
9,692
798
9,706
8,930
44,089
34, 596
571
6,798
477
5,480
9,870
811
10, 589
9,493
185
229
176
236
175
218
168
212
145
169
129
222
103
202
237
10.57
10.58
10. 59
10.59
10.69
10.69
5.436
5. 708
46,798
5.443
5.709
54,075
5.447
5. 709
• 49,975
45, 665
42,450
4,804
641
14,668
8,985
593
12, 759
3,215
46, 528
44,049
5,661
594
14,378
9,393
626
13,397
2,479
51,158
48,047
6,393
608
14,802
11,070
705
14, 469
3,111
187
217
14.93
12. 281
r 4,640
203
382
15.20
12.454
4,982
157
15.27
12. 484
5,469
15.26
12. 469
5,492
214
111
249
10.70
10.50
10.54
10.55
10.57
5.454
5.715
20,420
5.361
5.640
49,483
5.388
5.655
50,987
5.393
5.670
47,217
5.430
5.696
47,658
5.433
5.708
46,938
5.433
5.708
39,192
5.433
5.708
50, 772
31, 642
29, 936
2,565
289
9,949
6,201
460
10, 472
1,706
44,020
40,056
4,428
456
12,620
47, 715
43,152
5,128
497
13,736
9,872
703
13,011
4,563
49,906
45,024
4,753
503
14,282
10,222
656
14,416
4,882
51,141
45, 966
4,503
528
14,690
10,387
680
15,178
5,175
53,350
48,025
4,624
608
15,534
10,880
746
15,633
5,325
48,015
43, 734
3,666
569
15,138
10,072
548
13,741
4,281
48,919
44, 689
4,607
670
15,137
10, 056
602
13,617
4,230
152
160
133
137
142
118
156
168
160
219
162
7.500
7.000
7.500
7.500
7.500
7.500
7.500
7.500
7.500
7.500
7.500
7.500
20
2,572
'560
' 5, 573
179
559
5,166
172
549
5,430
185
455
5,071
180
1,102
674
428
160
367
4,789
152
1,002
490
512
159
392
5,166
163
927
498
429
158
405
3,800
161
970
666
305
146
462
5,000
167
926
569
357
154
197
3,942
144
963
481
482
159
366
2,632
149
872
598
275
148
297
4,997
148
1,177
658
518
162
1,161
934
227
147
1,016
'814
'203
142
681
12, 321
3,964
10.69
5.454
5.709
• 56, 540
58, 531
55, 386
8,269
677
15, 705
13, 235
1,005
16, 495
3,145
COKE
Exports §
thous. of short tons.
Price, beehive, Connellsville (furnace)
dol. per short ton..
Production:
Beehive
thous. of short tons..
Byproduct
do.
Petroleum coke
do.
Stocks, end of month:
Byproduct plants, total
do.
At furnace plants
do.
At merchant plants
do.
Petroleum coke
_
do.
292
172
724
514
210
150
PETROLEUM AND PRODUCTS
Crude petroleum:
152, 295 149, 682 155, 040 152, 771 128, 236 131, 567 138, 705 141, 779 140,130 130, 232 144, 488
Consumption (runs to stills) f.
thous. of bbl__
3,432
3,455
Exports §
do
3,958
2,536
3,398
1,495
2,418
3,380
3,936
2,688
7, 577
6,514
Imports §
do
7,480
6, 789
6,578
6,090
7,387
7,547
8,302
5,673
7,102
1.110
1.110
1.110
Price (Kansas-Okla.) at wells..
..dol. per bbl__
1.110
1.110
1.110
1.110
1.110
1.210
1.110
1.110
1.110
Production!
_
_
..thous. of bbl__
150,985 145, 610 151,606 150,965 132, 386 132,597 135, 252 138, 495 143, 368 132,129 136, 835
92
Refinery operations
_
pet. of capacity..
95
97
92
84
96
85
91
94
Stocks, end of month:
223,151 218, 218 216, 638 215,135 220,319 221,246 218, 916 218, 763 223,442 227, 220 221, 400
Reflnable in U. S.f
thous. of bbl__
53,172
51, 790
53,053
At refineries
do
52,967
53,128
54,469 51, 773 52, 756 50, 276 51, 819 55, 430
155, 557 151,909 149, 247 147,807 150,984 154,988 151, 753 153, 957 156, 790 157, 315 153,419
At tank farms and in pipe lines
do
14, 519
14, 422
14, 407 14, 530 14,833
14,338
14, 361
14,485
14, 853
On leasesf
do
14,866
14, 475
5,044
5,063
4,793
4,821
4,610
4,437
4,606
4,528
Heavy in California
_
do
4,496
4,554
4,607
1,350
1,158
1,156
1,089
1,333
1,146
1,233
Wells completed!
number..
1,389
1,330
1,291
1,112
Refined petroleum products:
Gas and fuel oils:
Domestic demand :§
18, 267
15, 353
14, 719
14, 207 16, 546 19,102 28, 626 29, 473 25, 341
14, 998
19, 804
Gas oil and distillate fuel oil
thous. of bbl___
45,053
43,151
41, 434
35, 469 40, 627 42, 713 45, 726 44, 966 39, 332
40,350
42, 229
Residual fuel oil
.
do
Consumption by type of consumer:
3,513
2,043
1,271
1,446
2,570
1,280
1,855
<• 2,141
1,386
2,261
1,540
1,968
Eloctric power plantsf
do
7,274
7,804
8,649
8,300
7,799
7,625
6,935
8,361
6,953
7,420
6,584
Railways (class I)
do
6,131
6,694
5, 346
6,049
Vessels (bunker oil) §
.do
8,043
7,740
7,897
4,874
5,775
5,694
Exports :§
4,002
4,764
3,202
1, 995
2,421
1,566
2, 254
2,017
2,456
1, 723
Gas oil and distillate fuel oil
do
1,797
693
909
1, 106
416
240
239
317
374
Residual fuel oil
do
363
507
267
.066
.058
.066
.066
.061
.058
.058
.058
Price, fuel oil (Pennsylvania)
dol. per gaL.
.058
.058
.058
Production:
21,941
21,891
22, 099
21, 740 19, 204 19, 009 19, 964 21, 176 24, 390
25, 298
Gas oil and distillate fuel oil
thous. of bbl
23,047
41, 569
40, 527
41, 200 34, 183 36, 452 37, 937 38, 609 37, 940
Residual fuel oil
do__
37, 598
34. 791
41,881
Stocks, end of month:
29, 511
36, 276
32, 440
41, 245 45, 059 45, 479 44, 562 35, 778 28, 990
Gas oil and distillate fuel oil
do..
29, 922
25, 511
34, 333
34, 573
Residual fuel oil
do..
35, 606
38, 341
32, 995
34,008
42, 227 42, 822 42, 068 41, 322" 37,158
Motor fuel:
51,186
Domestic demand§
thous. of bbl
60, 828
66, 218
60, 597
70, 027 64, 550 55, 743 53, 581 50,129
56, 801
47, 889
5,332
4,524
Exports§
do-_
11,585
2,794
9,784
6, 312
2,779
2,300
4,181
4.452
5,258
Prices, gasoline:
. 055
.050
.059
.056
Wholesale, refinery (Okla.)
dol. per gal..
.059
.053
.054
.059
.059
.059
.060
.060
.149
.145
.149
Wholesale, tank wagon (N. Y.)
do
.161
. 149
.161
.149
.146
.149
.161
.161
.155
.142
.142
.141
.146
.142
Retail, service stations, 60 cities.
do
.146
. 142
.142
.142
.146
.142
.146
' Revised. JRevisions for 1945 not shown above: Jan., 4,219; Feb., 4,471; Mar., 5,269; Apr., 5,124.
§ Data continue series published in the 1942 Supplement put suspended during the war period; data for October 1941-February 1945 will be published later.
S Average for 35 cities through April 1945; the comparability of the average was not affected by the omission
of data for the city dropped.
f Revised series. For source of 1939-41 revisions for bituminous coal production, see note marked "f" o n P- s ~ 3 2 o f t n e April 1943 Survey; revisions for 1942-43 are shown on p.
S-33 of the April 1945 issue. For 1941 revisions for the indicated series on petroleum products on this page and p. S-37, see notes marked "f" on p. S-33 of the March and April 1943
issues (correction for crude petroleum production January 1941, 110,446), and for revised 1942 monthly averages, see note marked " t " on p. S-33 of the July 1944 issue; 1942 monthly
revisions and revisions for 1943 are available on request.
SURVEY OF CURRENT BUSINESS
July 1946
May
1946
1945
1946
Unless otherwise stated, statistics t h r o u g h 1941
a n d descriptive notes m a y be found i n t h e
1942 S u p p l e m e n t t o t h e Survey
S-37
May
June
July
August
September
October
Novem- December
ber
January
February
March
April
PETROLEUM AND COAL PRODUCTS—Continued
PETROLEUM AND PRODUCTS—Continued
Refined petroleum products—Continued.
Motor fuel—Continued.
Production, totalf
thous. of bbl_.
Straight run gasoline
do
Cracked gasoline
do
Natural gasoline and allied productsttdo
Sales of 1. p. g. for fuel and chemicals
do
Transfer of cycle products
do
Used at rofineriesf
do
Retail distribution &
mil. of gal..
Stocks, gasoline, end of month:
Finished gasoline, total
thous. of bbl..
At refineries-do
Unfinished gasoline
___
.
do
Natural gasoline
do
Kerosene:
Domestic demand§
do
Exports§
do
Price, wholesale, water white, 47°, refinery (Pennsylvania)-.
-dol. per gal.Production.
thous. of bbl,.
Stocks, refinery, end of month
_._do
Lubricants:
Domestic demand§
do
Exports^
do
Price, wholesale, cylinder, refinery (Pennsylvania)
dol. per gal.
Production
_
_.-thous. of bbl,.
Stocks, refinery, end of month
do
Asphalt:
Imports§
short tons,.
Production
_
do
Stocks, refinery, end of month.
do
Wax:
Production
thous. of lb,.
Stocks, refinery, end of month
—-do
Asphalt prepared roofing, shipments:!
Total..
_
thous. of squares.
Smooth-surfaced roll roofing and cap sheet—do
Mineral-surfaced roll roofing and cap sheet.__do
Shingles, all types
do.-..
.070
1,359
40
5,081
2,416
60,604
23,141
29,918
9,267
1,671
51
5,483
2,290
66,873
24, 761
34, 496
9,474
1,782
76
5,425
2,118
66,058
23,885
34, 504
9,871
2, 115
87
5,317
2,006
62,126
23,234
31,067
10,122
2,217
80
5,037
2,047
55,492
20,915
27,388
9,251
1,973
89
4,448
1,937
61,899
24,385
29,910
9,563
1,866
93
4,619
2,307
74,270
46,346
9,733
4,048
65,489
38,146
9,085
3,985
68,039
41,613
8,766
3,959
78,091
47,585
8,449
4,325
89,360
56, 784
8,316
4,322
94,115
63, 203
8,279
5,034
96, 293
63, 999
8,543
5,843
95,186
63,532
8,975
6,658
4,402
543
3,789
540
5,254
815
6,775
605
7,613
505
9,830
423
11,176
586
370
8,006
394
.074
6,337
5,737
.074
6,520
5,860
.074
7,089
7,571
.068
5,858
8,082
.066
6,447
7,564
.066
7,564
7,355
.066
8,543
6,212
.066
9,688
4,666
.070
9,506
4,304
.070
9,852
4,981
3,370
779
3,132
678
3,261
819
3,120
389
2,327
453
2,577
297
2,532
571
2,606
517
2,275
603
2,562
1,225
.160
3,882
7,026
.160
3,567
6,770
.160
3,645
6,321
.160
3,712
6,505
.160
3,128
6,840
.160
3,265
7,221
.160
3,485
7,595
.160
3,312
7,773
2,689
775
.160
3,395
7,694
.160
3,159
7,966
.160
3,786
7,951
.160
8,748
18, 542
681,100 790,200
835,300 730,700
9,206
772,600
592,200
9,065
376
665
9,925
30, 040
564,400 491,100 459, 500 479, 300 540, 500
558,400 692,700 786, 500 889, 600 948, 400
8,985
69,766
27,006
34,427
9,947
1,541
73
6,114
2,306
66,968
24, 644
34,263
9,521
1,384
76
6,065
2,339
72,505
28, 457
35,696
9,757
1,328
77
6,551
2,366
72,318
29,263
34,829
9,651
1,369
56
6,236
2,599
60,077
23,600
29,307
77,151
49, 741
11,179
4,873
74,089
46,357
12,039
4,723
74,460
47,822
11,122
4,338
5,459
639
4,741
556
.074
6,445
5,347
16, 237
631,100
915,500
5,100
1,738
1,065
2,296
7,864
23, 612
662,900 650,000
524,200 503,100
655
.070
721
71,120
81,200
70,280
71,400
71,400
78,680
73,360
82,600
54,040
84,280
58,240
84,280
66,640
83,160
63,840
82,040
65, 520
80,640
64,960
81,480
77, 280
85,400
4,189
1,307
1,111
1,771
4,182
1,260
1,133
1,789
3,816
1,092
1,043
1,681
4,170
1,194
1,145
1,831
4,076
1,112
1,186
1,778
4,665
1,269
1,350
2,045
4,347
1,147
1,299
1,901
3,314
892
937
1,484
4,563
1,350
1,226
1,987
4,060
1,229
1,073
1,759
4,680
1,526
1,102
2,052
5,151
1, 696
1,224
2,231
RUBBER AND RUBBER PRODUCTS
RUBBER
Natural rubber:
Consumption^
Imports, including latex and Guayule§
Stocks, end of monthj
Synthetic rubber:*
Consumption
Exports
Production
Stocks, end of month
Reclaimed rubber:^
Consumption
Production
Stocks, end of m o n t h . .
_
long tons.
do...
_do_-.
10,164
11, 487
102, 478
7,392
8,995
7,698
5,799
9,358
10, 509 11, 206 11,164
103, 219 103, 504 105, 594 111,385
8,185
7,575
12, 213 14,045
117, 543 118, 715
19, 595
33,008
31,757
8,109
do...
do-_.
do...
do__.
62, 837
3,961
83, 309
193,663
58, 627 52, 571 54, 439 45, 479 58, 667 56, 227 56,112
5,403
3,839
1,621
8,024
7,851
11, 969 10, 914
78, 702 78, 650 69, 703 63, 754 47, 317 48, 634 46, 593
203, 018 218, 539 224,117 239, 683 226, 550 214, 289 203, 454
5, 675
6,430
17, 726
12,931
do_._
do...
do...
22, 459
22, 249
35, 035
19, 873
20, 187
34, 353
15,976
17, 033
34, 574
18, 663
18, 804
33, 881
17, 365
17, 246
32, 439
22,185
22, 044
31,103
20, 263
20,560
30, 541
19,590
20, 63.2
28,155
thousands.
do...
..do...
do...
_
-do...
246
3,363
3,184
568
1,574
191
3,434
3,327
452
1,689
190
3,054
2,941
407
1,799
124
3,656
3,332
382
2,072
94
3,432
3,446
346
2,003
64
4,700
4,369
450
2,352
90
4,660
4,436
634
2,992
4,818
4,297
378
3,003
5,973
5,547
576
3,338
111
5,801
5,468
476
3,487
206
6,686
6,621
730
3,392
196
6,883
6,989
1,105
3,304
.do...
do
do...
do...
188
3,007
3,069
2,438
113
3,104
3,008
2,601
125
3,050
2,959
2,597
103
3,240
3,044
2,784
83
99
3,061
3,063
2,708
4, 274
3,924
3,175
4,245
4,023
3,387
3,959
3,638
3,671
5,296
4,286
4,048
108
4,874
4,386
4,418
155
5,840
5,649
4,519
169
6,114
6,079
4,190
100,311
97,395
115,440
129,204
143,919
161,776
7,206
11,606
118,085
T I R E S AND T U B E S
Pneumatic casings :J
Exports
Production
Shipments
Original equipment
Stocks, end of month
Inner tubes:§
Exports
Production
Shipments
Stocks, end of month___
92
STONE, CLAY, AND GLASS PRODUCTS
ABRASIVE PRODUCTS
Coated abrasive paper and cloth, shipments
reams..
142,069
140,312
123,662
116,468
99,700
98,121
PORTLAND CEMENT
Production
thous. of bbl_- 12,172
9,921
8,934
9,237
9,826
9,633
8,088
11,104
9,772
9,250
12, 650
10,705
11, 299
Percent of capacity
49
59
45
45
50
47
40
55
48
50
64
54
55
11,467
Shipments
thous. of bbl_. 16,083
10,088
10,283
11,211
7,391
9,275
13,303
6,112
7,853
15,369
10,342
12, 698
15,966
12,
061
18,535
17,486
14,595
18,
653
19,599
12,385
16,426
20,033
r
15,972
12,
763
18,
651
Stocks, finished, end of month
do
4,556
Stocks, clinker, end of month
do
5,095
5,273
4,808
4,572
5,304
5,834
4,109
4,463
5,824
4,022
6,330
r 6, 013
' Revised, cf See note in April 1946 Survey.
6Data continue series published in the 1942 Supplement but suspended during the war period; data for October 1941-February 1946 for exports and January 1942-February 1945
for the other series will be published later.
^Includes natural gasoline, cycle products, and liquefied petroleum gases at natural gasoline plants, and benzol. Sales of liquefied petroleum gases for fuel and for chemicals
and transfers of cycle products, shown separately above, are deducted before combining the data with straight run and cracked gasoline to obtain total motor fuel production.
IData are from the Civilian Production Administration and continue similar series from the Rubber Manufacturers Association published in the 1942 Supplement; the coverage
is complete. Data for November 1941-February 1945 will be published later.
•New series. Exports are from the Bureau of the Census; other series are compiled by the Civilian Production Administration and the coverage is complete. Data prior to
March 1945 will be shown later.
fSee note marked "f" on p. S-36 regarding revisions in the indicated series for petroleum products. Data for asphalt roofing have been published on a revised basis beginning in
the April
1945 Survey; see note in that issue.
SURVEY OF CURRENT BUSINESS
S-38
Unless otherwise stated, statistics through 1941
and descriptive notes may be found in the
1942 Supplement to t h e Survey
1946
May
July 1946
1945
May
June
July
August
1946
SepNovem- Decem- January Februtember October
ber
ber
ary
March
April
STONE, CLAY, AND GLASS PRODUCTS—Continued
CLAY PRODUCTS
Brick, unglazed:
Price, wholesale, common, composite, f. o. b. plant
dol. per thoiis.
Production*
thous. of standard brick.
Shipments*
—
do...
Stocks, end of month*
do._,
Unglazed structural tile:*
Production
short tons.
Shipments--.--do...
Stocks
do...
Vitrified clay sewer pipe:*
Production
_.do—
Shipmentsdo...
Stocks
-do...
GLASS PRODUCTS
Glass containers^
Production
thous. of gross.
Shipments, domestic, total
__do___
Narrow neck, food
do—
Wide mouth, food (incl. packers tumblers) _>_do..Beverage—
do...
Beer bottles..
do....
Liquor and wine
do...
Medicinal and toilet
.—
do....
General purpose (chem., household, indus.)--do—
Dairy products
do—
Fruit jars and jelly glasses
do....
Stocks, end of month
—
-do—
Other glassware, machine-made:
Turn biers; t
Production
thous. of doz..
Shipments
_
do....
Stocks
-do—
Table, kitchen, and householdware, shipments f
thous. of doz—
Plate glass, polished, production
thous. of sq. ft..
GYPSUM AND PRODUCTS
Crude gypsum:
ImportscfProduction
Calcined, production.
Gypsum products sold or used:
Uncalcined
_
Calcined:
For building uses:
Base-coat plasters
Keene's cement
All other building plasters
L&th
_
Tile
Waliboarde...
Industrial plasters
15.406
159,862
188,379
218, 507
15.415
183,310
197,987
203,413
15.621
191,489
203,676
191.640
15.568
211,331
228,832
174,462
16.036
210, 210
211,088
172,832
16.881
250,467
267,775
158,800
17.051
263, 441
258, 591
160,563
68, 444
70, 232
97, 820
62, 024
67, 558
91, 889
58,497
67, 944
82,401
61, 591
72, 569
71, 351
62, 406
69, 488
64,423
67, 835
73, 779
59, 469
71, 471
74, 974
53,844
17. 328
17. 081 17. 196 17.213
238, 668 271, 639 279, 265 332,904
216, 658 271, 601 271, 763 332,519
18], 158 179,875 188, 343 190,118
62, 046 70,114 67,059 ' 84,107
61, 549 75, 298 70,102 >• 82,907
54, 429 49, 399 46,434 47, 542
53, 337 56, 363 58, 504 60,105
71, 927
68, 348 70, 649 72, 190 71, 070 80, 222
166, 597 152, 369 138, 712 127,858 121, 270
73, 801
72, 585
119,196
71, 055 84,021
54 , «04 '55,812
62, 329 78, 084 50 , 174 r 54, 072
128, 470 137, 583 142.. 248 145,718
50, 299
67, 789
180, 431
8,961
9,218
812
2,844
558
389
1,008
2, 219
727
315
345
3,643
18,863
9,270
9,081
716
2,431
684
1,056
782
2,013
725
302
372
4,335
8,711
8,832
694
2,298
690
933
835
2,084
671
303
323
3,985
8,710
8,534
817
2,224
561
852
838
1,821
691
307
423
3,988
9,270
9,253
1,073
2,568
548
757
891
1,945
740
329
402
3,806
8.995
8,743
1,170
2,420
450
744
865
1,963
687
305
139
3,835
9,885
9,693
871
2,998
607
719
1,123
2,109
838
337
90
3,815
592
2,707
505
624
1,126
2,006
742
312
52
3,857
8,603
7,968
561
2,533
467
564
1,087
1,773
648
302
34
4,331
9,890
9,644
679
3,041
415
801
1,161
2,355
752
353
89
4,392
8, ,985
8, ,847
615
2, ,775
399
801
1, ,152
2, 052
667
317
67
4; 294
9,872
9,614
725
2,904
524
791
1,156
2,229
772
342
171
4,287
6,325
6,012
4,971
6,091
6,280
4,773
5,630
4,468
5,865
5,884
4,461
5,826
5,786
4,551
6,653
6,458
4,876
6,153
5,377
5,640
5,682
5,925
5,281
5,753
5,516
4,882
6,465
6,138
4, 879
7,770
7,672
5,007
2,755
8,637
3,102
6,081
2,476
8,481
3,474
8,966
2,867
10,354
3,103
7,335
2,968
543
3,203
429
4,402
4,355
8,978
3, 681
13, 849
4,153
19, 292
short tons..
do
-do
88,039
906,796
603, 491
180,257
959,097
628,871
233,059
1,087,495
701, 797
42, 721
1,143,238
828, 731
--do—
256,707
276,969
340, 697
358, 643
do—
do...
do...
thous. of sq. ft..
do
do...
short tons.
152,961
3,293
50,182
130,990
4,
174,497
3,591
54,580
145,356
4,717
374,430
52,485
204, 791
4.596
69,614
206,823
5, 047
365,183
35,660
265, 675
6,589
85,952
242, 917
5,164
408,149
48, 568
-
388,094
58,249
TEXTILE PRODUCTS
CLOTHING
Hosiery:
Production ^
thous. of dozen p a i r s . .
Shipments^
do
Stocks, end of m o n t h . .
do
13,985
13, 344
16,461
12,047
12, 275
12,777
• 11,256
•11,639
12, 303
' 9, 627
' 9, 256
•12, C60
11,251
11,290
12, 506
11,042
10,803
12, 609
• 12, 450
• 12, 008
-12, 886
11,443
10,704
' 13. 551
-9,999
'9,137
14, 355
13,131
12, 751
14, 734
12, 235
11,938
15, 032
12,976
12,613
15, 394
830,414
193, 378
61, 663
.205
785, 945
295, 416
12, 978
.209
672,973
309, 501
9,947
739,811
187, 851
14, 587
701,000
244, 318
57, 595
759,806
194,616
21, 792
743,450
297, 023
9,823
651, 784
214, 928
19,199
811,368
293,166
35,899
746, 594
250, 482
25, 845
.230
803, 937
318,948
39, 609
COTTON
Cotton (exclusive of linters):
Consumption
_
b a l e s . . 871, 559
Exportsd"
.do
Importsd"-do
.241
Prices received by farmerst
dol. per lb__
l
Prices, wholesale, m i d d l i n g , H i " , average, 10 markets
.274
dol. per R e production:
Ginnings§
thous. of running bales
Crop estimate, equivalent 500-lb. bales
thous. of b a l e s . .
Stocks, domestic cotton in the United States, end of
month:%
6,345
Warehouses
thous. of bales.
2,239
Mills...
do.___
C o t t o n linters:
85
Consumption
do
Production
do
31
Stocks, end of m o n t h
do
443
.226
.227
.213
.213
.217
.223
.225
.228
.224
.226
.224
.225
.231
.239
.245
.247
133
461
2,176
5,154
7,384
7,734
8,027
.258
.227
.268
i 8, 813
19,014
10,045
2,090
9,117
1,989
8,306
1,909
7,778
1,778
8,250
1,690
9,145
1,852
10,556
2,137
10,447
2,311
9,900
2,295
131
66
410
119
40
351
104
39
292
84
36
278
77
74
274
85
166
333
84
171
408
134
451
140
475
9,348
2, 305
482
8,559
2,319
95
71
480
i Total wginnings of 1945 crop.
..._..
_
§ Total ginnings to end of month indicated.
* Revised.
cf Data continue series published in the 1942 Supplement but suspended during the war period; data for October 1941-February 1945 will be published later.
© Includes laminated board reported as component board; this is a new product not produced prior to September 1942.
t For revised figures for cotton stocks for August 1941-March 1942, see p. S-24 of the May 1943 Survey. The total stocks of American cotton in the United States on Julv31 194«5
including stocks on farms and intransit, were 11,040,000 bales, and stocks of foreign cotton in the United States, 124,000 bales.
t Revised series. See note marked " t " on p. S-34 of the July 1944 Survey regarding changes in the data on glass containers and comparable figures for 1940-42; data for JanuaryOctober 1945 were compiled by the War Production Board; subsequent data are from the Bureau of the Census. Data for tumblers have been revised to include data for 8 companies
and for table, kitchen, and household ware to include 6 companies; comparable data beginning January 1944 will be shown later. The farm price of cotton has been revised for Anpn<rf
s
1937-July 1942; for revisions see note marked "f" on p. S-35 of the June 1944 Survey.
New series. Data are compiled by the Bureau of the Census and cover all known manufacturers; data beginning September 1942 for brick are shown on p 24 of the February
J
1945 issue; dalita beginning
. . . that month for other series will be published later.
"
^Revisions for 1945 not shown above; Production—Jan., 12,368; Feb., 11,250; Mar., 11/ 4; shipments—Jan., 12,356; Feb., 11,562; Mar., 12,359.
SURVEY OF CURRENT BUSINESS
July 1946
Unless otherwise stated, statistics through 1941
a n d descriptive notes m a y h e found i n the
1942 S u p p l e m e n t t o t h e Survey
1946
May
S-39
1945
July
June
May
1946
Decem- January
August SeptemOctober November
ber
ber
February
March
Apri:
TEXTILE PRODUCTS—Continued
COTTON MANUFACTURERS
Cotton cloth:
Cotton broad woven goods over 12 inches in width,
production, quarterly*
mil. of linear yards-.
Cotton goods finished, quarterly:*
Production, total
_
do
Bleached
._
_._do
Plain dyed__.
do
Printed
do
Exports§
_
thous. of sq. yds_.
Imports§
do
Prices, wholesale:
Mill margins...
cents per lb_. 23.73
.256
Denims, 28-inch...
_
_dol. per yd._
.114
Print cloth, 64 x 56tf
do
.138
Sheeting, unbleached, 36-inch, 66x560
do
Spindle activity:
Active spindles
thousands.- 21, 958
9, 558
Active spindle hours, total
mil. of hr___
401
Average per spindle In place
hours..
110.5
Operations
percent of capacity..
Cotton yarn, wholesale prices:
Southern, 22/1, cones, carded, white, for knitting(mill)t
. 543
dol. per lb._
Southern, 40s, single, carded (mill)
do
.672
RAYON AND MANUFACTURES
Yarn and staple fibers:
Consumption:
56.5
Yarn
mil. of lb
15.9
Staple
fiber..
-..do ..
Imports§
.thous. of lb_.
Prices, wholesale:
Yarn, viscose, 150 denier, first quality, minimum
.550
filament
dol. per lb_.
.250
Staple fiber, viscose, 1H denier
..do
Stocks, producers', end of month:
Yarn
.mil. oflb..
2.2
staple
fiber
do
Rayon goods, production, quarterly:*
Broad woven goods
thous. of linear yards..
Ficished, total
do
White
finished..
do.
Plain dyed
do.
Printed
do.
WOOL
Consumption (scoured basis) :1
Apparel class.
thous. of lb._
Carpet class..
do.._.
Imports §
do
Prices, wholesale:
Raw, territory, 64s, 70s, 80s, fine, scoured*..dol. per lb.
Raw, bright fleece, 66s, greasy*.
do....
Australian, 64-70s, good top making, scoured, in bond
(Boston)f
dol. per lb._
Stocks, scoured basis, end of mo., totalf
thous. of lb._
Wool finer than 40s, total
-do.
Domestic
do.
Foreign
.._
_
_do.
Wool 40s and below and carpet.
.do.
WOOL MANUFACTURES
Machinery activity (weekly average) :t
Looms:
Woolen and worsted:
Broad
.thous. of active hours..
Narrow
do.
Carpet and rug: #
Broad
_
do.
N arrow
do.
Spinning spindles:
Woolen...
do.
Worsted..
do.
Worsted combs
do.
Woo lea and worsted woven goods (except woven felts):*
Production, quarterly, total...thous. of linear yards
Apparel fabrics
1
do..
Men's wear
do
Women's and children's wear
do.
General use and other fabrics
do.
Blankets...
.do.
Other nonapparel fabrics
do.
Wool yarn:
Production, total*
thous. of lb_.
Knitting*..
do.
Weaving*.
do.
Carpet and other*..
_
do.
Price, wholesale, worsted yarn, 2/32s (Boston)
dol. per lb—
l
2,270
' 2,008
2,080
2,251
51,935
7,595
1,738
822
617
298
56,730
8,343
62,927
7,850
56, 999
11.169
1,428
723
459
246
57, 951
9,452
59, 618
3,131
60,474
2,532
1,732
839
477
416
71,472
4,840
65,154
7,100
20.02
.209
.090
.114
19.92
.209
.090
.114
20.04
.209
.090
.114
20.28
.209
.090
.114
22,168
9,637
416
114.8
22,189
9,240
399
118 8
22,029
7,926
343
102.0
.451
.568
451
.568
53.0
14.3
49, 031
7,610
68, 789
5,934
1,555
778
'457
320
52,756
2,920
22.41
.216
.092
.117
21.85
.223
21.16
.223
.099
.120
20.61
.223
.099
.120
20.68
.223
.099
.120
19.49
.223
.099
.120
22.53
.248
.110
.133
23.09
.256
.114
.138
22.170
8,793
370
100.5
21,912
8,371
352
11L8
21, 722
9,143
105.0
21,605
8,672
364
104.6
21, 552
7, 733
325
101.5
21, 630
9,489
399
110.7
21,629
8,497
357
113.1
21,957
9,103
1
382
'101.7
21,973
9,133
r'383
109.7
.451
.568
.451
.470
.593
.470
.592
.470
.592
.470
.592
.470
.592
.476
.592
.504
.627
.525
.646
50.6
13.4
0
48.6
13.7
50.5
12.7
0
47.9
11.9
3
53.2
15.1
1,000
52.8
14.8
0
50.7
14.5
1,441
55.7
14.0
1,492
50.2
13.3
1,426
58.3
16.8
2,943
'56.6
14.8
2,141
.550
.250
.550
.250
.550
.250
.550
.250
.550
.250
.550
.250
.550
.250
.550
.250
.550
.250
.550
.250
. 550
.250
.550
.250
6.2
3.0
6.0
3.0
6.1
3.8
5.6
4.4
6.0
4.8
7.3
4.6
7.7
3.9
7.3
3.1
8.3
4.1
10.0
4.0
9.2
1.9
''9.3
'2.3
390, 383
397, 035
54, 547
263, 680
.120
354, 498
360, 549
48, 723
232,785
69, 041
51, 456
2.980
41,997
48,920
3.010
42, 501
37,788
4,332
45,708
39,004
5,828
39, 303
51,540
8,600
58, 399
40,332
6,368
50, 365
.995
.465
1.190
.545
1.190
.545
1.190
.545
1.190
.545
1.190
.545
1.190
.545
.745
.749
.745
406,603
332, 576
194,450
138,126
74,027
.745
.755
1.190
.545
.755
443, 434
359,935
208,246
151,689
.755
.755
2,355
78
2,424
79
1,865
64
2,045
2,050
75
37
28
44
31
32
24
49
34
82
50
2,182
75
78
64
2,183
78
71
59
107,382
88, 743
203
113,809
93,426
205
87,142
76,017
175
101,419
84, 616
170
105,340
95,919
193
1.900
107,360 108,656
103, 739 100,415
195
107, 963
7,818
44,063
32,9
11,658
17, 977
2,168
71,128
13,928
'63,159
*4,041
73, 352
14, 436
r 54,646
'4,270
69,480
14, 490
"•51,065
'3,925
63,660
12, 756
'46,286
'4,618
1.900
1.900
1.900
1.900
434,300
433,578
' 53,127
286, 851
r
93, 600
397,300
•380,194
'43,541
•259,718
'76,935
50,884
3,032
36,865
127, 786
98,500
61,420
22, 342
14,738
27,696
1,590
«l
7,436
45,988
53,995
10,100
106,619
1.035
.485
.758
483, 019
360, 224
211.826
148, 398
122, 795
1.035
.485
2,175
78
79
67
2,276
72
47,708 ' 50,424 61, 685
9,916
10, 352 11,460
78,514 113,543 126, 519
1.025
.480
.995
.465
.755
.755
491,512
377,658
221,188
156,470
113,854
2,480
81
95
74
105, 388 109,462 120,378
97,801 102, 327 112,677
197
186
220
83
124, 501
107,163
' 44,566
' 49,587
'13,010
' 11,387
'5,951
1.900
1.900
1.900
2, 580
77
103
84
122,334 119, 558
115, 501 113,955
222
226
142,135
121,914
' 51, 948
55,037
•14,929
• 12, 774
' 7,447
63,504 81, 600 '64,508 62, 240 82,775 74,204
12, 000 14, 780 ' 11,700 10,864
14,775
13,460
'45,052 '57,324 '45,416 '43, 639 '57,272
50,656
'7,392 '7,737 ' 10,728 '10,088
'6,452
1.900
' 2, 582
'85
.465
.747
1.900
1.900 I
77,176
13,936
52,732
' 10, 508
1.900
94, 500
17,000
64, 500
13,000
1.900
' Revised. See note marked "c?J". IData for July and October 1945, January and April 1946 are for 5 weeks; other months, - weeks. 2 Less than 1,000 pounds.
§Data continue series published in the 1942 Supplement but suspended during the war period; data for October 1941-February 1945 will be published later.
cf Data beginning October are for 64 x 60 cloth and continue the series for which prices through June 1943 were shown in the October 1943 Survey (this construction was discontinued during the war period); the price of 64 x 56 cloth was $0,096 for October 1945-February 1946 and $0,107 for March 1946.
©This series was substituted in the November 1943 Survey for the price of 56 x 60 sheeting, production of which was discontinued during the war period.
• D a t a through August 1945 exclude activity of carpet and rug looms operating on blankets and cotton fabrics.
tRevised series. For 1941 data for the yarn price series, see p . S-35 of the November 1942 issue. Wool stocks have been published on a revised basis beginning 1942 (see p. S-35
of the May 1943 Survey); data include wool held by the Commodity Credit Corporation but exclude foreign wool held by the Defense Supplies Corporation.
*New series. For data beginning 1943 for production of cotton cloth and a brief description of the data, see p. S-35 of the August 1944 Survey; earlier data will be shown later.
The new series for cotton and rayon goods finishing, rayon broad woven goods production, and wool yarn production are from the Bureau of the Census and represent virtually complete coverage; data beginning in 1943 will be shown later. Data beginning 1939 for the price of raw territory wool are shown on p. 24 of the February 1945 Survey. Data beginning
1936 for the price series for Australian wool, which is from the Department of Agriculture, will be shown later; prices are before payment of duty. For available data for 1937-43 for
woolen and worsted goods production, see p. 19 of the May 1945 Survey.
SURVEY OF CURRENT BUSINESS
S-40
Unless otherwise stated, statistics through 1941
and descriptive notes may be found in the
1942 Supplement to the Survey
1946
May
July 1946
1945
May
June
July
August
1946
tember
Octo
ber"
Novem- December
ber
January
February
March
April
TEXTILE PRODUCTS—Continued
MISCELLANEOUS PRODUCTS
Fur, sales by dealers
thous. of dol__
Pyroxylin-coated textiles (cotton fabrics): §
Orders, unfilled, end of month
thous. lin. yd..
Pyroxylin spread- _ _ _
« . -_ - thous. of l b .
Shipments, billed
"
thous linear yd
5.685
5,263
3,992
3,787
3,210
7,699
5,778
10, 267
4,565
5,824
10,181
4,523
5,539
10, 646
3,938
5,147
10,6C4
4,805
6,673
12,670
5,505
6,119
11,908
6,398
7,973
12,038
6,686
8,485
11,909
6,036
6,864
12, 786
6,754
8,345
13,137
6,129
7,571
13,035
6,301
7,713
13,606
6,811
8,650
TRANSPORTATION EQUIPMENT
MOTOR VEHICLES
Exports, assembled, total V
_
Passenger cars 1
.-Trucks 1_
-__
Production:*
Passenger cars
_
_
Trucks and truck tractors, total—
Civilian, total
Heavy
Medium
._.
Light.
Military
do...
do_._
do...
do...
do...
do...
do...
r
r
14,877
18,911
129
18, 782
15,688
174
15,514
5,370
196
5,174
4,331
238
4,093
7,956
430
7,526
8,604
824
7,780
• 10.266
2,962
' 7.304
0
71, 267
22,315
4,624
12,003
5,688
48,952
0
66,456
23,131
5,592
12,017
5,522
43, 325
359
54,563
21,394
4,843
12, 558
3,993
33,169
1,381
44,779
27, 532
5,398
16,851
5,283
17,247
580
31,572
30,106
6,036
17,830
e,240
1,466
16,839
42, 225
40, 900
5,654
25,982
9,264
1,325
34,612
53,634
53,103
5,437
30, 754
16,912
531
30,022
29,542
28,792
5,054
11,132
12,606
750
58, 575
54,864
54, 791
6,278
23,956
24,557
73
47, 965
28, 692
28, 594
4,4/0
9,880
14,244
90,045
3,340
2,816
181
181
3,632
2,540
14
14
4,933
3,428
31
31
4,256
2,316
37
37
4,348
2,414
24
24
2,263
2,046
8
2,605
2,361
60
60
2,019
1,689
2,355
3,474
2,202
494
2,411
1,664
2,460
2,325
21
21
1,749
83
4.9
35,954
28,184
7,770
1,770
66
3.9
29,387
24,509
4,878
1,769
65
3.8
27,968
23,429
4,539
1,773
68
3.9
32,058
25,988
6,070
1,771
70
4.1
37,398
31,674
5,724
1,769
75
4.4
37,468
31,687
5,781
1,767
70
4.1
37,136
31, 587
1,765
3,260
8.5
2,407
6.1
2,303
5.9
2,420
6.2
2,514
6.4
63
43
20
522
512
10
119
89
30
385
383
2
272
232
40
111
86
25
397
370
27
136
102
34
109
82
27
387
364
23
116
90
26
107
"•351
'323
28
372
355
17
246
229
17
23,549
100
23, 449
152, 948
74, 650
74,650
4,823
37, 427
32, 400
0
number_do_._
do...
15,001
124
12,289
2, 350
' 9.939
13, 285
4,001
39,359
39, 348
2,433
16,990
19,925
11
RAILWAY EQUIPME1NT
American Railway Car Institute:
Shipments:
Freight cars, total
number..
Domestic
...do
Passenger cars, totaU
do
Domestic^
_
do
Association of American Railroads:
Freight cars, end of month:
Number owned
___•
thousands..
Undergoing or awaiting classified repairs...do ...
Percent of total on line
Orders, unfilled
cars..
Equipment manufacturers
do
Railroad shops
..do
Locomotives, end of month:
Steam, undergoing or awaiting classified repairs
number..
Percent of total on line
_
Orders unfilled:
Steam locomotives, total...number..
Equipment manufacturers
...do
Railroad shops.
.do
Other locomotives, total*
do
Equipment manufacturers*
do
Railroad shops*
._
do
Exports of locomotives, total 1
do
Steam 1
do
Other 1
do
INDUSTRIAL ELECTRIC TRUCKS AND
TRACTORS
Shipments, total
Domestic
_.
Exports
numberdo
do...
80
27
405
388
186
1,674
491
491
494
5,549
4.1
35,172
29, 334
5,838
1,760
72
4.3
36, 426
30,911
5,515
1,757
71
4.2
36, 471
29,002
7,469
1, 757
74
4.4
37, 572
30,345
7,227
1,755
75
4.4
38, 650
29, 947
8,703
2,562
6.5
2,662
6.8
2,662
6.8
2,555
6.6
2,834
7.3
2,944
7.6
3,075
8.0
129
84
45
406
117
75
42
403
389
14
46
29
17
104
67
37
380
367
13
144
122
22
92
64
28
379
369
81
57
24
373
363
10
222
156
66
85
57
28
378
368
10
163
125
38
57
25
412
402
10
216
172
44
325
319
195
191
4
'159
r
156
3
205.3
194.5
210.8
223.9
' 163.5 r 138.5
144.8
14b. 3
244.1
231.9
133.2
123.8
150.4
132.9
160.7
166.8
189.9
197.7
' 195. 7
139.7
211.0
135.1
130.6
173.7
193.0
194.5
'231.0
141.8
206.3
134.5
114.0
195.4
193.9
r 247. 8
151.8
202.8
138.4
119.7
198.7
181.2
188.2
' 252.1
152.9
197.9
150.7
98.1
166.7
100.0
82.5
176.1
163.7
168.9
140.9
68.8
52.5
139.2
6P.0
54.3
117.0
120.1
r 103.9
272
4,803
465
119.9
r 104. 6
283
4,644
424
119.9
' 105.2
263
4, 215
392
120.1
' 105.6
389
85
63
22
17
17
40
15
25
322
313
246
239
7
69
10
270
160
110
CANADIAN STATISTICS
Phvsical volume of business, adjusted:
Combined indext
1936-39-= 100..
Industrial production, combined indexf
-do
Construction t—do
Electric power
_
.do
Manufacturing!
do
Forestry t
do
Miningf
do
Distribution, combined indexfdo
Agricultural marketings, adjusted:!
Combined index
do
Grain
do
Livestock
do
Commodity prices:
Cost of living
...do
Wholesale prices
1926=100..
Railways:
Carloadings
thous. of cars..
Revenue freight carried 1 mile
.mi), of tons..
Passengers carried 1 mile
.mil. of passengers..
218.6
238.0
' U6.8
165.4
256.1
123.5
188.9
178.6
219.5
236.2
' 198.4
164.1
252.5
124.5
174.6
191.0
213.7
230.1
r 172, 2
161.3
248.9
125.0
160.9
.179. 7
177.5
190.8
119.8
165.0
176.4
115.6
312.7
351.1
144.4
119.0
' 103.6
119.6
' 104. 0
322
5,919
622
310
5,739
492
212.7
226.5
r 147.1
154.6
247.6
125.2
156.2
184.0
84.2
74.0
128.6
51.3
35.7
119.0
70.6
59.4
136.6
117.1
105.6
166.9
119.9
120.3
120.5
' 1C4. 6 ' 104. 0 ' 103.3
314
300
5,692
5, 251
5,159
735
706
569
119.7
' 103.6
119.9
r 103.9
341
5,495
498
322
5,298
425
r
191.4
199.0
r 425. 4
155.6
190.7
146.9
143,5
175.9
302
4,981
412
' Revised.
X Data for October 1945-January 1946, and April 1946, include converted troop kitchens and troop sleepers.
§ Data for several additional companies are included beginning July or August; see note in the April 1946 Survey for July and August figures excluding these companies anc
information regarding an earlier revision in the series.
1 The export series, except data for total locomotives and other locomotives, continue data formerly published in the Survey but suspended during the war period; "other locomo
tives" has been revised to include internal combustion, carburetor type, Diesel-electric and Diesel in addition to electric locomotives and the total revised accordingly. The serie
include railway, mining and industrial locomotives. Data through February 1945 for the revised series and for October 1941-February 1945 for other series will be published later.
*New series. See note in September 1945 Survey for a description of the series on production of trucks and tractors; data beginning 1936 will be published later. Data on passenge
car production are from the Civilian Production Administration and cover the entire industry; there was no production April 1942-June 1945. Data for unfilled orders cf "othe
locomotives" are for class I railroads and include electric, Diesel-electric, and Diesel; data beginning 1939 will be shown later.
tRevised series. The Canadian index of construction has been shown on a revised basis beginning in the August 1945 Survey, the mining index beginning in the April 1944 issue
and the other indicated indexes beginning in the December 1942 issue; see note in April 1946 Survey for the periods affected.
• . S. 60VEBNHEMT PRINTING OFFICE: 1941
INDEX TO MONTHLY BUSINESS STATISTICS, Pages S1-S40
CLASSIFICATION OF SECTIONS
Monthly business statistics:
Page
Business indexes . — . . __.__-_._ S-l
S-3
Commodity prices
_ . S-3
Construction and real estate
S-5
Domestic trade. _
S-6
S-9
Employment conditions and wagesFinance _ _ . . .
. . . . __ . . . . S-l 5
S-20
Transportation and communications
.
. . . . . . . . . . S-22
Statistics on individual industries:
Chemicals and allied products
S-23
Electric power and gas
S-26
Foodstuffs and tobacco
S-26
Leather and products
. . . . S-30
Lumber and manufactures
S-31
Metals and manufactures:
Iron and steel
S-32
Nonferrous metals and products S-33
Machinery and apparatus
- S-34
Paper and printing
S-35
Petroleum and coal products
S-36
Rubber and rubber products
S-37
Stone, clay, and glass products
S-37
Textile products
S-38
Transportation equipment
S-40
Canadian statistics
.
S-40
CLASSIFICATION BY INDIVIDUAL SERIES
Pages marked S
Abrasive paper and cloth (coated)
37
Acids.
23
Advertising
6, 7
Agricultural income, marketings
1
Agricultural wages, loans
14,15
Air mail and air-line operations
7, 23
Aircraft
2,10,11,12,13, 14
Alcohol, denatured, ethyl, and methyl
23, 24
Alcoholic beverages
_ 1, 2, 26, 27
Aluminum
33
Animal fats, greases
24, 25
Anthracite-.
_ 2,4,11,12,13,14,36
Apparel, wearing
4, 6, 7, 8,10,11,12,13,14,38,39
Asphalt._
37
Automobiles
1, 2,3, 6, 7,10,11,12,13,14,17
Banking
15
Barley
27
Bearing metal
33
Beef and veal
29
Beverages, alcoholic
1,2,26,27
Bituminous coal..
_. 2,4,11,12,13,14,36
Boilers
33
Bonds, issues, prices, sales, yields
18,19
Book publication
35
Brass
33
Brick
4, 38
Brokers' loans
15, 19
Building contracts awarded
5
Building costs
-.
5,6
Building construction (see Construction).
Building materials, prices, retail trade
4, 7, 8, 9
Business operating and business turn-over
3
Butter
.
.
27
Canadian statistics
16,17,40
Candy
29
Capital flotations
18
For productive uses
18
Carloadings
22
Cattle and calves
28
Cellulose plastic products
26
Cement...
1,2,4,37
Cereal and bakery products
4
Chain-store sales
8
Cheese
27
Chemicals
1, 2, 3,4,10,11,13,14,17, 23, 24
Cigars and cigarettes
30
Civil-service employees
11
Clay products (see also Stone, clay, etc.)
1,2,38
Clothing
_
4, 6, 7, 8,10,11,12,13,14,38
Coal
2, 4,11,12,13,14, 36
Coffee
29
Coke
_
2,36
Commercial and industrial failures..
3
Construction:
New construction, dollar value
5
Contracts awarded
5
Costs
6
Highway
5,11
Wage rates, earnings, hours.
12,14
Consumer credit
15,16
Consumer expenditures
7
Copper
33
Copra and coconut oil
25
Corn
28
Co9t-of-living index
4
Cotton, raw, and manufactures
2,
4,10,12,13,38,39
Cottonseed, cake and meal, oil
25
Crops
_.
1, 25, 27, 28
Currency in circulation
.
17
Dairy products
1,2,3,4,27
Debits, bank
...
15
Debt, short-term, consumer
15,16
Debt, United States Government
17
Pages marked S
Department stores, sales, stocks, collections..
8, 9
Deposits, bank
15, 17
Disputes, industrial
12
Distilled spirits
24, 26, 27
Dividend payments and rates
.
1, 19
Earnings, weekly and hourly
14
Eggs and chickens
1, 3, 4, 29
Electrical equipment
2, 3, 7, 34
Electric power production, sales, revenues
26
Employment, estimated
10
Employment indexes:
Factory, by industries
10, 11
Nonmanufacturing industries
11
Employment, security operations
12
Emigration and immigration
23
Engineering construction
5
Exchange rates, foreign
16
Expenditures, United States Government
17
Explosives
24
Exports
20, 21
Factory, employment, pay rolls, hours, wages.
9,
10, 11. 12, 13, 14
Failures, industrial and commercial
3
Fairchild's retail price index
4
Farm wages
14
Farm prices, index
3, 4
Fats and oils
4, 24, 25
Federal Government,
finance
17, 18
Federal Reserve banks, condition of
15
Federal Reserve reporting member banks
15
Fertilizers
,
4, 24
Fire losses
6
Fish oils and fish
25, 29
Flaxseed
25
Flooring
31
Flour, wheat
28
Food products
2,
3, 4, 7,10,11,12,13,14,17, 27, 28, 29
Footwear
2,4,7,8,10,12,13,14,31
Foreclosures, real estate
6
Foreign trade, indexes, shipping weight, value
by regions, countries, economic classes, and
commodity groups
20,21
Foundry equipment
34
Freight cars (equipment)—
40
Freight carloadings, cars, indexes
22
Freight-car surplus
.
22
Fruits and vegetables
.
. . 2,3, 4, 27
Fuel equipment and heating apparatus
34
Fuels
_
2,4,36,37
Furniture
1,4,10,11,12,13,32
Gas, customers, sales, revenues
26
Gas and fuel oils
.
36
Gasoline.
37
Glass and glassware (see also Stone, clay, etc.).
Gelatin
_
24
Gloves and mittens
30
Glycerine
24
Gold
16,17
Goods in warehouses
7
Grains..
3, 27, 28
Gypsum
38
Hides and skins
4,30
Highways
5,11
Hogs
29
Home-loan banks, loans outstanding
6
Home mortgages
.
6
Hosiery...
4,38
Hotels
11,13, 23
Hours per week
.
11,12
Housefurnishings
.
4, 6, 7, 8
Housing
4, 5
Immigration and emigration
23
Imports
20, 21
Income payments
1
Income-tax receipts
17
Incorporations, business, new
3
Industrial production indexes
1, 2
Instalment loans
16
Instalment sales, department stores...
8,9
Insurance, life
16
Interest and money rates
15
Inventories, manufacturers' and trade
3,8
Iron and steel, crude, manufactures
2,
3,4,10,11,12,13,17,32,33
Kerosene
37
Lebor force
9
Labor disputes, turn-over
12
Lamb and mutton
29
Lard
29
Lead.
__
33
Leather
__
1, 2, 4,10, 11,12, 13, 30, 31
Linseed oil, cake, and meal
25
Livestock..
_
1, 3, 28, 29
Loans, real-estate, agricultural, bank, brokers'
(see also Consumer credit)
6,15,17
Locomotives
40
Looms, woolen, activity
39
Lubricants
37
Lumber.
1, 2, 4,10,11,12,13,31,32
Machine activity, cotton, wool
39
Machine t o o l s . . .
_ 10,11,12,13,34
Machinery
1, 2,3,10,11,12,13,17,34
Magazine advertising
7
Manufacturers' orders, shipments, inventories.
2,3
Manufacturing production indexes
1, 2
Meats and meat packing. 1, 2, 3, 4,10,12,13,14, 29
Metals
1, 2,3,4,10,11,12,13,17,32,33
Methanol
24
Milk
_
27
Minerals
2,10,11,12,14
Money supply
.
17
Motor fuel
36,37
Motor vehicles
—_
7,40
Pages marked S
Motors, electrical
34
Munitions production
2
Newspaper advertising
.
6, 7
Newsprint
35
New York Stock Exchange
19, 20
Oats
28
Oils and fats
4, 24, 25
Oleomargarine
.
25
Operating businesses and business turn-over..
3
Orders, new, manufacturers'
2
Paint and paint materials
4, 26
Paper and pulp
2,3,4,10,11,12,13,14,35
Paper products
35
Passports issued
23
Pay rolls, manufacturing and nonmanufacturing industries
12,13
Petroleum and products
2,
3,4,10,11,12,13,14,17,36, 37
Pig iron
32
Plywood
,
31
Porcelain enameled products..
.
33
Pork
29
Postal business
7
Postal savings
15
Poultry and eggs
1,3,29
Prices (see also Individual commodities):
Retail indexes
4
Wholesale indexes
4
Printing
2,10,11,12,13,14,35
Profits, corporation
17
Public assistance
._ . .
14
Public utilities
4, 5,11,12,13,14,17,18,19, 20
Pullman Company
23
Pumps
34
Purchasing power of the dollar
5
Radio advertising
6, 7
Railways, operations, equipment, financial statistics, employment, wages
11,
12,13,14,17,18,19, 20, 22,23,40
Railways, street (see Street railways, etc.).
Rayon, and rayon manufactures 2,4,10,12,13,14,39
Receipts, United States Government
17
Reconstruction Finance Corporation, loans
18
Rents (housing), index
4
Retail trade, all retail stores, chain stores,
department stores, mail order, rural sales,
general merchandise
7,8,9
Rice
._
28
Roofing, asphalt
37
Rubber, natural, synthetic and reclaimed,
tires and tubes
37
Rubber industry, production index, employment, pay rolls, hours, earnings
2,
3,4,10,11,13,14
Savings deposits
15
Sewer pipe and clay
38
Sheep and lambs
29
Shipbuilding
2,10,11,12,13,14
Shipments, manufacturers'
2
Shoes
1,4, 7, 8,10,12,13,14,31
Shortenings
25
Silver
_
17
Skins
___
30
Slaughtering and meat packing.. 2, 10,12,13,14, 29
Soybeans and soybean oil
25
Spindle activity, cotton, wool
39
Steel and iron (see Iron and steel).
Steel, scrap
32
Stocks, department stores (see also Manufacturers' inventories)
9
Stocks, issues, prices, sales, yields
19, 20
Stone, clay, and glass products
1,
2,10,11,12,13,14,37,38
Street railways and busses
11,12,14
Sugar
_
29,30
Sulphur
24
Sulfuric acid
23
Superphosphate
24
Telephone, telegraph, cable, and radio-telegraph carriers
. 11,12,14,17, 23
Textiles
2,3, 4,10,11,12,13,14,38,39
Tile
38
Tin..
33
Tobacco.
_
2,11,12,13,14,30
Tools, machine
_
10,11,12,13,14,34
Trade, retail and wholesale
7, 8, 9,11,13,14
Transit lines, local
22
Transportation, commodity and passenger
22, 23
Transportation equipment
1,
2,3, 9,10,11,12,13,14,17,40
Travel
_
_
22, 23
Trucks and tractors
40
Unemployment
9
United States Government bonds..
_ 17,18,19
United States Government,
finance
17,18
United States Steel Corporation
.
33
Utilities
4, 5,9,12,13,14,17,18,19, 20
Variety stores
8
Vegetable oils
25
Vegetables and fruits
2,3,4, 27
Veterans' unemployment allowances
12
Wages, factory and miscellaneous
13,14
War program, production and expenditures... 2,17
War Savings Bonds
17
Warehouses, space occupied
7
Water transportation, employment, pay rolls. 11,13
Wheat and wheat
flour
28
Wholesale price indexes
4
Wholesale trade.9
Wood pulp
— 4,34,35
Wool and wool manufactures
2,4,10,12,13,14,39
Zinc
33
Department of Commerce
Field Service
Albany, N. Y., Room 409, County Courthouse.
Atlanta 3, Ga., P. O. Box 1595.
Baltimore 2, Md., 803 Cathedral St.
Boston 9, Mass., 1800 Customhouse.
Buffalo 3, N. Y., 242 Federal Bldg.
Charleston 3, S. C , 310 Peoples Bldg.
Charleston 1, W. Ya., 612 Atlas Bldg.
Chattanooga 2, Term., 924 James Bldg.
Chicago 4, 111., 357 U. S. Courthouse.
Cincinnati 2, Ohio, 1204 Chamber of Commerce Bldg.
Cleveland 14, Ohio, 1286 Union Commerce Bldg.
Columbus, Ohio, 1037 N. High St.
Dallas 2, Tex., 602 Santa Fe Bldg.
Denver 2, Colo., 302 Midland Savings Bldg.
Des Moines 9, Iowa, 518 Grand Ave., Room 300.
Detroit 26, Mich., 1028 New Federal Bldg.
Duluth 5, Minn., 310 Christie Bldg.
El Paso 7, Tex., Chamber of Commerce Bldg,
Fargo, N. Dak., 207 Walker Bldg.
Grand Rapids 2, Mich,, 736 Keeler Bldg.
Hartford 6, Conn., 436 Capitol Ave.
Houston 14, Tex., 603 Federal Office Bldg.
Jacksonville 1, Fla«, 425 Federal Bldg.
Kansas City 6, Mo., 600 Interstate Bldg., 417
E. 13th St.
Little Rock 5, Ark., 312 Pyramid Bldg.
Los Angeles 12, Calif., 1540 U. S. Post Office
and Courthouse.
Louisville 2, Ky., 631 Federal Bldg.
Manchester, N. H., Beacon Bldg., 814 Elm St.
Memphis 3, Tenn., 229 Federal Bldg.
Miami 32, Fla., 701 Congress Bldg.
Minneapolis 1, Minn., 1234 Metropolitan life
Bldg.
Mobile 5, Ala., City Hall Annex*
New Haven, Conn., 152 Temple St.
New Orleans 12, La., Masonic Temple Bldg.,
333 St. Charles Ave., Room 1508
New York 1, N. Y., Empire State Bldg., 350
Fifth Ave., 60th Floor.
Oklahoma City 2, Okla., 901-905 Petroleum
Bldg.
Omaha 2, Nebr., 918 City National Bank Bldg.
Peoria, 111., 531 First National Bank Bldg.
Philadelphia 3, Pa., 1612 Market St.
Phoenix 8, Ariz., 234 N. Central St.
Pittsburgh 19, Pa., 1013 New Federal Bldg.
Portland 3, Maine, 142 High St.
Portland 4, Oreg., 520 S. W. Morrison St.
Providence 3, R. I., 631 Industrial Trust Bldg.
Richmond 19, Va., 801 E. Broad St., Room 2,
Mezzanine.
St. Louis 1, Mo., 107 New Federal Bldg.
Salt Lake City 1, Utah, 321 Atlas Bldg.
San Antonio 5, Tex., 101 Transit Tower Bldg.
San Diego, Calif., 906 Columbia St.
San Francisco 11, Calif., 307 Customhouse.
Savannah, Ga., Room 6, U. S. Courthouse and
Post Office Bldg.
Seattle 4, Wash., 809 Federal Office Bldg.
Sioux Falls 6, S. Dak., 310 Policyholders National Bldg.
Syracuse, N. Y., Kemper Bldg.
Texarkana 5, Tex., 817 Texarkana Nat'l Bank
Bldg.
Wichita 2, Kans., 205 K. F. H. Bldg.
Worcester 8, Mass., 340 Main St.
@FedFRASER