Full text of Survey of Current Business : July 1951
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JULY 1951
U. S. DEPARTMENT OF COMMERCE
BUREAU OF FOREIGN AND DOMESTIC COMMERCE
OFFICE OF BUSINESS ECONOMICS
SURVEY
OF C U R R E N T
BUSINESS
y3^*F5?^\
/*5<^ffli^x»\
Vol. 31 p/ v-°Su"7 Y\ No. 7
IjVJ
|^n§lo I
P3*i
JULY 1951
DEPARTMENT OF C O M M E R C E
FIELD SERVICE
Albuquerque, N. Mex.
203 W. Gold Are.
Memphis 3, Tenn.
229 Federal Bldg.
Atlanta 3, Ga.
50 Whitehall St. SW.
Miami 32, Fla.
36 NE. First St.
Baltimore 2, Md.
200 E. Lexington St.
Milwaukee 1, Wis.
517 E. Wisconsin Ave,
Boston 9, Mass.
40 Broad St.
Minneapolis 2, Minn.
607 Marquette Ave.
Buffalo 3, N. Y.
117 EllicottSt.
Mobile, Ala.
109-13 St. Joseph St.
Butte, Mont.
306 Federal Bid*.
New Orleans 12, La.
333 St. Charles Ave.
Charleston 29, S. C.
6 Hudson St.
New York 4, N. Y.
42 Broadway
Cheyenne, Wyo.
410 Federal Office Bldg
Oklahoma City 2, Okla.
ir t.
Chicago 1, 111.
221 N. LaSalle St.
Omaha, Nebr.
403 So. 15th St.
Cincinnati 2, Ohio
105 W. Fourth St.
Philadelphia 6, Pa.
1015 Chestnut St.
Cleveland 14, Ohio
925 Euclid Are.
Phoenix, Ariz.
808 N. First St.
Dallas 2, Tex.
1114 Commerce St.
Pittsburgh 22, Pa.
717 Liberty Ave.
Denver 2, Colo.
142 New Custom House
Portland 4, Oreg.
520 SW. Morrison St.
Detroit 26, Mich.
230 W. Fort St.
Providence 3, R. I.
327 Post Office Annex.
El Paso 7, Tex.
310 San Francisco St.
Reno, Nev.
1479 Wells Ave.
Hartford 1, Conn.
135 High St
Richmond 19, Va.
400 East Main St.
Houston 14, Tex.
501 Republic Bldg.
St. Louis 1, Mo.
1114 Market St.
Jacksonville 1, Fla.
311 W. Monroe St.
Salt Lake City 1, Utah
109 W. Second So.
Kansas C*ty 6, Mo.
700 Pickwick Bldg.
San Francisco 2, Calif.
870 Market St.
1,08 Angeles 15, Calif.
112 West 9th St.
Savannah, Ga.
125-29 Bull St.
Louisville 2, Ky.
631 Federal Bldg.
Seattle 4, Wash.
909 First Ave.
^S^TESO^^
L^ontenfo
PAGE
THE BUSINESS SITUATION
'
i
. . .
1
Production Trends
.
Current Trends i n Capital Outlays . . . . . . . . .
National Income and Corporate Profits, First ' Quarter
1951
.'
3
6
*
*
.
.
. .
*
SPECIAL ARTICLES
Income of Physicians, 1929-49
if
*
8
9
*
MONTHLY BUSINESS STATISTICS . . . . S-l to S-40
New or Revised Statistical Series . .
27
Statistical Index
Inside Back Cover
Published by the U. S. Department of Commerce, C H A R L E S S A W Y E R ,
Secretary. Office of Business Economics, M. JOSEPH ME EH AN,
Director. Subscription price, including weekly statistical supplement, $3 a
year; Foreign. $4. Single copy, 25 cents. Send remittances to any Department of Commerce Field Office or to the Superintendent of Documents,
United States Government Printing Office, Washington 25, D. C. Special
subscription arrangements, including changes of address, should be made
directly with the Superintendent of Documents. Make checks payable to
Treasurer of the United States.
For local telephone listing, consult section
devoted to U. S, Government
Contents are not copyrighted and may be freely reprinted.
JULY 1951
THE
Gross National Product expansion has
moderated with defense expenditures
rising further
INCREASES
5
SITUATION
IN BILLIONS OF DOLLARS^
10
15
20
GROSS N A T I O N A L
PRODUCT
SECOND TO THIRD
Q U A R T E R I960
By the Office of Business Economics
E«
T H I R D TO FOURTH
Q U A R T E R I960
FOURTH Q U A R T E R
1950 TO F I R S T
Q U A R T E R 1951
FIRST TO SECOND
Q U A R T E R 1951
to a current rate of 10 percent of
National output.
PERCENT
15
RATIO
TO
OF
GROSS
DEFENSE
EXPENDITURES
NATIONAL
PRODUCT ^
10
Federal Government purchases of goods
and services have doubled in the
past year.
BILLIONS
Defense takes 10 percent of output
OF DOLLARS
451
30
15
I960
1951
QUARTERLY TOTALS, SEASONALLY ADJUSTED, AT ANNUAL RATES
If ABSOLUTE- INCREASES AND RATIOS ARE BASED UPON QUARTERLY TOTALS,
SEASONALLY ADJUSTED, AT ANNUAL RATES.
U. S. DEPARTMENT OF COMMERCE, OFFICE OF BUSINESS ECONOMICS
953915°—51-
jCONOMIC activity in June was maintained at a high
rate, with Government military procurement moving ahead
on a broad scale. Production continued at an even pace
with shifts in the character of the output reflecting the rising
flow of military goods, the expansion in producers7 durables,
and the reduced orders for consumers' goods.
Employment has changed seasonally, continuing to reflect
almost full utilization of the normal labor force, with the
number of unemployed being less than 2 million. Consumer
purchasing has shown little change, remaining below that of
the first quarter. With personal incomes higher and retail
prices rising only slightly, consumer purchasing power has
increased but individuals at the moment are disposed to
save a higher-than-usual proportion of their current incomes.
The rise in military expenditures is contrasted with the
expansion in the total national output in the upper panel of
the chart on the left. In the period through the first quarter
of 1951 the total product increased much more than defense
expenditures. The rise in the total reflected a substantially
enlarged flow of goods to consumers, into residential construction, and into business fixed investment. In the second
quarter, however, of these three segments only business
fixed investment increased, although there was a further
large accumulation of inventories. For the private sector
as a whole, there was little net change in the final product
arid the only increase was that for Government account.
The annual rate of $36 billion for defense expenditures in
June was three times that of a year ago, with about half of
the June expenditures representing purchases of military
"hard goods." The latter will gradually represent an increasing share of total defense expenditures as deliveries of
munitions accelerate at a time when the Armed Forces have
reached their planned strength, with the result that pay and
subsistence expenditures will not continue to increase as
they have in the past year.
51-168
The proportion of the gross national product taken for
defense purposes is shown by the middle panel of the chart
to be now up to 10 percent. The military program as
projected will require almost a doubling of this large fraction
of total national production. At the time of this writing
military truce discussions were in progress in Korea, but
there has been no perceptible impact on the over-all economic
situation as a result of this development. Since the economic
requirements of the military program are predicated upon
the basic security needs of the country, and not upon developments in a particular area, the building up of the military
strength of the country will continue as programed.
The further expansion which has occurred in capital
investment has been especially marked in the defense-related
industries. The latest quarterly survey of investment programs, reviewed in a subsequent section, indicates that
earlier spending plans estimated at about $24 billion for 1951
have been revised upward.
SUKVEY OF CURRENT BUSINESS
Private residential construction has been declining since
February of this year, after allowances for seasonal factors.
Nonfarm residential starts in the first 6 months, estimated
at 575,000 were about one-fifth below the total of the first
half of 1950. In June, total nonfarm starts spurted to 130,000 units from 97,000 in May with an unusually large number
of Government-financed starts. The latter accounted for
one-third of the total for the month. Public residential
starts in the first half of this year constituted 10 percent of
all nonfarm starts compared to 1 percent in the corresponding
period of last year.
Lagging retail sales reflected in inventory
increase
Conservative purchasing by consumers and sustained high
production have been reflected in a further rise in business
inventories. At the end of May total business inventories
reached $69.9 billion, on a seasonally adjusted basis, a rise
of $1.5 billion in book value above April and more than $8
billion above the end of 1950. Nearly half of the increase in
the 5-month period reflected the effect of higher prices, although with prices stable since mid-February the advance in
book values has reflected to an increasing extent physical
volume accumulation.
From February to May the increase in the book value of
manufacturers' inventories has averaged more than $1 billion
per month, on a seasonally adjusted basis, with a considerable
part of the additions reflecting materials required for defense
or defense-supporting production. About two-thirds of the
rise in manufacturers' stocks since the beginning of the year
has been in purchased materials and goods in process, as
indicated by the following table showing the change in the
three major types of manufacturers' stocks:
Purchased Materials
Goods in Process
Finished Goods
[Billions of dollars]
Dec. 31, 1950 May 30, 1951
14. 6
15. 7
8. 0
11. 6
9. 8
13. 2
5-month increase
Percent
Absolute
8
1. 1
1. 8
1. 6
23
14
It maty be noted that the largest relative additions occurred
in goods'in process. Although normally finished goods stocks
show relatively small changes, they rose 14 percent during
the first 5 months of this year, reflecting the falling off in
orders for consumers' goods as distributors experienced
reduced sales in many items.
The total rise in manufacturers' inventories during the first
5 months of this year has been equally divided between the
durable and nondurable goods industries. Currently the
inventory-stock ratio for the durable goods industries is not
high in relation to past periods and in view of the general
strength of demand in the defense-capital goods industries,
stocks are relatively low in a number of these industries.
Some of the consumer durable sections of these industries
have accumulated rather high stocks in relation to current
sales.
The increase in stocks in nondurable industries has brought
inventories to a high point in relation to sales. The stocksales ratio for all nondurable goods producers at the end of
May was about the same as the average for 1949, a period
of inventory adjustment which was the major factor in the
minor business recession at that time.
Wholesalers' stocks also appear high in relation to current
sales. Since the first of this year they have risen more than
10 percent. Furthermore there is some tendency for the
larger accumulations in wholesale stocks to parallel additions
in similar lines at the manufacturers' level.
The substantial increase in stocks held by retailers this
year in the face of curtailed consumer purchases has resulted
in widespread efforts to readjust the inventory-sales ratio in
lines. Although there is considerable indeterminateDigitized for many
FRASER
July 1951
ness concerning the events leading up to the shift in consumer
demand, the subsequent train of consequences is quite
distinct. Production advanced to a peak rate at the beginning of the year, and forward buying by the trade lifted
orders to new highs.
After January, consumer demand began to weaken and
this was accompanied by an increase in delivery of goods to
both wholesalers and retailers as production remained at or
near a peak rate for most types of civilian products. As
trade stocks rose and sales declined in the subsequent
months, the ratio of stocks to sales increased substantially, as
shown in chart 2. At the end of May, the ratio of the value
of stocks to monthly sales for all retail stores stood at 1.6,
appreciably higher than at any other time in the postwar
period. The present ratio represents a marked rise in view
of the fact that the stock-sales ratio for all retail stores has
been remarkably stable in recent years, as is evident in the
lower panel of chart 2.
It is clear that the ratio of stocks to sales is higher than
retailers had planned when orders were placed for the merchandise which has been arriving in recent months. On an
over-all basis, the increase in stocks from 1.3 to 1.6 times
monthly sales represents nearly 2 weeks' extra supply of
goods, since stocks are generally valued at cost. Although
the high stocks are not spread uniformly in all lines, the ratio
of stocks to sales appears to be high in most types of stores.
This is shown in table 1.
Table 1.—Retail Stock-Sales Ratio
|p
£>
Period
9
c3
1
-£
c
oa
3°
'5 §
£ ~ f3
cS M
G^^ G
sl
w"
S.2 c3 0
&
-3
§
il
T3 ^ Ci
t 2o
H; o Sc
1
5
1948: Second quarter. _
1.31
1. 66
1. 17
0.98
2.20
2.14
2.27
2.07
1949: Second quarter,..
1. 33
1.64
1. 18
1.01
2. 19
2.41
2.28
2. 05
1.27
1.27
1.20
1.42
1.43
1.39
1.19
1. 65
1.19
1.21
1.20
1.31
.84
.78
.64
.93
1.87
2.11
1.62
2.49
2. 24
2.07
1.93
2.45
2.41
2. 42
2! 51
2.62
2. 29
5! 15
1. 96
2.41
1.39
1.55
1.31
.87
2.34
2.30
2.38
2.44
1. 56
1. 58
1.92
1.98
1.38
1.38
1.15
1.20
3. 17
3.44
2.54
2. 53
2 99
2.89
2.69
2.65
1950:
First quarter
Second quarter
Third quarter
Fourth quarter
1951:
First quarter
April
May
3 5*
£ "^ ^
<
Source: U. S. Department of Commerce, Office of Business Economics.
At ho me furnishings stores, stocks were one-fifth higher
on a book value basis than at the beginning of the year, and
sales were off more than one-fourth from the peak reached
in January. The detailed data on homefurnishings in department stores show a similar rise in stocks in relation to
sales. In the building materials and hardware group stocksales ratios are also high, but the advance since the beginning
of the year has been considerably less than for homefurnishings stores principally because sales have held up better.
Stock-sales ratios have also risen substantially in recent
months at apparel stores.
In evaluating the inventory position, several factors are
relevant. The first is that personal incomes are rising under
the basic stimulus of the Government's program; the second
is that an unusually low proportion of this income is being
spent; and third, production of metal goods for the months
ahead are being limited by N. P. A. orders. On the resource
use side, however, it is apparent that resources can be transferred to defense production to the extent of this inventory
accumulation without impairing the goods available for
consumer use. Such a transfer would be of considerable
help in dealing with inflationary pressures since during the
first half of the year about $12 billion of output at annual
rates has gone into this inventory increase.
SUEVEY OF CUKKENT BUSINESS
July 1951
Rise in hourly wage earnings
A major problem since the outbreak of hostilities in Korea
has been that of stabilizing prices and wages. Since the
imposition of the price freeze on January 25 of this year,
wholesale prices have tended to drift slowly downward, with
the fractional changes resulting partly from reduced demands
for many types of goods by consumers. Raw materials
prices have been gradually reduced with substantial declines
occurring in the prices of a few selected items including
rubber, wool and tin, as the result of specific7 Government
action. In more recent months consumers prices have
edged upward, but sporadic retail price reductions have
been made, chiefly in specific types of apparel and homefurnishings where stocks accumulated well beyond the usual
ratio to sales.
raises would all affect earnings of production workers.
Changes in paid holidays or employers' contributions to
employees' pension and welfare benefits would not be
included in the earnings recorded.
Chart 3.—Increase in Average Hourly Earnings for Selected
Major Groups of Industries, January 1950 to April 1951
4
PERCENT INCREASE
8
12
16
BITUMINOUS COAL
DURABLE-GOODS
MANUFACTURING
Chart 2.—Retailers' Stocks and Sales
BILLIONS OF DOLLARS
CONTRACT CONSTRUCTION
(RATIO SCALE)
RAILROADS, CLASS I
NONDURABLE-GOODS
MANUFACTURING
CONSUMERS
PRICE INDEX
TRADE
RATIO (ARITHMETIC SCALE)
31
GAS AND ELECTRIC
UTILITIES
TELEPHONES
RATIO OF STOCKS
TO SALES
J_
I I (I I I I I I I I I I I I I I I I I I I I I I I I I I I I
1920
1925
1930
1935
1940
ANNUAL DATA
1945
III
L
1950 1948 1949 1950 1951
*-
QUARTERLY DATA,
SEASONALLY
ADJUSTED
U. S. DEPARTMENT OF COMMERCE, OFFICE OF BUSINESS ECONOMICS.
1 "Data are end-of-month averages for the year or quarter.
Data are monthly averages for the year or quarter.
Source of data: U. S. Department of Commerce, Office of Business Economics.
2
Hourly earnings for production workers, on the other
hand, have continued to rise this year, although at a reduced
rate from that which occurred in the last half of 1950.
Gross average hourly earnings for production workers in
all manufacturing industries rose 12 percent from January
1950 through May 1951, an increase of approximately 17
cents. Straight time average hourly earnings during the
same period went up 11 percent. The most rapid rise in
earnings occurred during the latter half of 1950, when the
advance averaged 1 percent per month. During the months
of 1951, the rate of increase has been about half as great.
In the durable goods industries gross average hourly
earnings rose approximately 18 cents from January 1950
through April 1951, an increase of 12 percent as shown in
chart 3. In the nondurable goods group the gross average
hourly earnings rose slightly more than 12 cents, a gain of
9 percent. As was true of the durable group the rate of
change for straight time average hourly earnings conformed
closely to that for all manufacturing except that the increased
rate of change did not occur until October.
The higher straight time average hourly earnings include
several factors other than rate changes. Larger numbers
receiving shift differentials, up-grading, higher incentive pay
due to increased levels of production, and merit or seniority
J_
I I I
U S. DEPARTMENT OF COMMERCE, OFFICE OF BUSINESS ECONOMICS
51-148
1
Percent increase is based upon data for January 1950 and March 1951.
Sources of data: U. S. Department of Labor, Bureau of Labor Statistics, except railroads
which are from the Interstate Commerce Commission.
Under the Wage Stabilization Board's Regulation 6, wage
increases were to be limited to 10 percent above the wage
rates of the payroll nearest January 15, 1950. The regulation provided for adjustments, however, above the 10 percent limit in cases involving inequities. The larger increases
are considered in such cases involving abnormalities of the
base-pay period and in special situations arising out of
collective-bargaining agreements, such as escalator clauses
containing cost-of-living increases and annual improvement
factors. On the basis of these provisions, the Board has
authorized wage increases in excess of the basic 10 percent
in a number of important cases.
Production Trends
Over-all stability at a high level has characterized the
industrial production picture since the turn of the year,
following the rapid advance in the latter half of 1950.
Divergent production trends emerged, however, during this
period among the various broad groups of manufacturing.
The production of consumer durable goods has been curtailed
because of materials shortages and a reduction in demand,
but output of producers' durable equipment has continued
to rise with the advance being limited in some instances by
the materials situation, while the output of military goods is
rising on a sharply ascending scale. In consumers' soft goods
lines, aggregate production has held steady since the beginning of the year following the gradual rise in 1950.
SURVEY OF CURRENT BUSINESS
Industries producing basic materials are continuing to
operate at capacity levels and are expanding operations as
rapidly as new production facilities become available. On
the whole, the physical quantity of goods available to the
civilian economy continues at a record high, with business
inventories of such products still increasing.
The impact of the defense program on the metal fabricating industries which produce the bulk of war materiel is
reflected in the substantial growth of new orders and backlogs on the books of these manufacturers (see chart 4).
Chart 4.—New and Unfilled Orders for Metal Fabricating
Industries
BILLION DOLLARS
50
40 UNFILLED ORDERS
(END OF Q U A R T E R )
30
\.
A major shift has occurred during the past year in the
physical volume of finished goods production, as shown in
chart 6. An important feature of the shift is the continued
increase in output of defense and capital equipment and the
sharp decline in production of consumer durables, and in
residential construction.
The indexes used in the chart represent approximations
and are based partly on the Federal Reserve production
indexes (recomputed to quarterly average, first half of 1950
as 100) and partly on separate indexes of consumer durable
goods compiled by the Office of Business Economics.1 While
wv,iia
^m.,, ORDERS ^
[(TOTAL FOR QUARTER)}
2nd
3rd
1951
I960
U. S. DEPARTMENT OF COMMERCE, OFFICE
OF BUSINESS ECONOMICS
the postwar period. The aggregate value of orders receive*
by machine tool builders in the 11 months since June 195'
was the highest for any similar period since 1942 when th
metal working industries were rapidly tooling up for war
New business placed in April and May fell moderately belo\
the high rate of the first quarter. From January througl
May of this year, incoming business was placed at a rat
about half again as large as in the latter part of 1950, whicl
in turn was almost three times the value in the first half o
1950. Some of the increase in machine tool orders has beei
due to price increases but the advance in physical volumi
has been very large.
Machine tool builders are still piling up backlogs, ^
indicated by the wide gap between new orders and ship
ments. Although shipments have been moving up steadih
with May the highest in the postwar period, the increase
has been from relatively low levels. As a result, backlogs
have been built up to the highest point since World War I]
and represent nearly 2 years' deliveries at the May rate—a
rate which is being expanded.
Defense goods and producers' durables continue
upward
20
10
July 105
51-157
i New orders are a total of April and May raised to a quarterly rate; unfilled orders are for
end of May.
Source of data: TJ. S. Department of Commerce, Office of Business Economics.
Price rises, of course, accounted for some of the increase.
Nevertheless, the totals are understated to the extent that
the data for the automobile industry do not include its large
backlog of Government business.
The pattern of new orders received by the metal fabricating industries followed the general trend of defense
contracts during this period. In the April-May period
incoming business, adjusted to a quarterly rate, declined
from the high pace of the preceding quarter, with all the
metal fabricating industries experiencing a decline. New
business, however, continued in excess of shipments and
remained well above the quarterly rate of the last half of
1950 when the defense program was getting under way.
Backlogs continued upward and at the end of May were
nearly three times as large as a year ago and represented
5 months' sales; the May ratios ranged from 3 months for
the nonferrous fabricating group to about 2 years for aircraft, the latter indicating the projected step-up in production schedules.
Chart 5.—Machine Tools: New Orders and Shipments
INDEX, 1945-47 = 100
600
500 -
400 -
300 -
200 -
100 -
1949
1950
U. S. DEPARTMENT OF COMMERCE, OFFICE OF BUSINESS ECONOMICS
1951
51-54
Machine-tool orders high
One of the key segments in the metal fabricating group,
where data are available showing the immediate and direct
impact of the defense program, is the machine tool industry.
The tooling-up required in the conversion from peacetime
products to defense materiel is plainly evident from data on
new orders and shipments shown in chart 5.
New orders for machine tools since June 1950 mounted
rapidly following a period of restricted activity earlier in
Source of data: National Machine Tool Builders' Association.
i Defense and producers' durables—Based upon Federal Reserve Board's seasonally
adjusted production indexes of fabricated iron and steel and nonferrous metals products,
machinery including ordnance, and transportation equipment excluding passenger cars.
Consumer durable goods—Index of housing starts based upon data from U. S. Departments
of Labor and Commerce; passenger cars from Automobile Manufacturers' Association;
household appliances (refrigerators, freezers, washing machines, vacuum cleaners, and electric
ranges), radios, and television sets from trade association reports on unit output and combined on basis of 1950 retail value.
Consumer nondurable goods—Based upon Federal Reserve Board's seasonally adjusted
production index of nondurable goods excluding chemicals, coke, pulp and most paper
products, and leather tanning.
uly 1951
SURVEY OF CURRENT BUSINESS
lie data, as indicated, represent an attempt to measure
nished goods output, an exception was made in the case
f consumer nondurables where production of textile fabrics,
s reported b}^ the Federal Reserve, was used in order to
how in some rough way output of apparel and related
>roducts.
The effect of the expansion in private business outlays for
lew plant and equipment and the rearmament program is
'vident in the rising trends of almost all defense and prolucers' durables, including especially machine tools, most
ypes of industrial and electrical machinery, electronics,
nilitary aircraft, ships and ordnance, and railroad equipment. The rise in output of total machinery, however, was
especially large and accounted for the bulk of the increase in
iie defense and producers' durable index. No direct over-all
measure of defense production is available, but such output
is reflected by activity in aircraft factories and shipbuilding
yards—largely for military account—and in ordnance plants
has shown substantial increases since June 1950 and is
currently contributing importantly to the rise in the total
index.
Output of railroad transportation equipment has also increased considerably. Freight car construction in May and
June approximated the goal of 10,000 per month set last
December while monthly deliveries of locomotives to Class I
railroads (largely Diesel-electrics) in the past year have been
the highest in over 25 years. Assemblies of trucks have
been at a high rate for more than a year with output in the
April-June period the largest ever reported by the industry.
Manufacturers'stocks of consumer durables increased
As already indicated earlier, the dollar value of goods in
the hands of retailers is at record levels. Manufacturers'
and distributors' stocks have also risen sharply. This is
particularly true for most types of household appliances
where unit inventories are now higher than at any time in
the postwar period despite the reduction in output that has
occurred in recent months. For much of the postwar period
such stocks were generally less than adequate for consumer
convenience.
OUTPUT OF FINISHED GOODS
Production of defense and producers'
durables continue upward
INDEX, QUARTERLY AVERAGE 1st HALF 1950 = 100
1601
140
120
100
Decline in consumer durables output
While the demand for military materiel and producers'
durable equipment has been increasing, the demand for
some types of consumer goods and, in particular, some of
the hard goods lines, has slackened appreciably in recent
months. The reduction in buying appeared during the
course of the first quarter at a time when production of
consumers' durables was still close to peak rates. This
brought a rather rapid build-up in retail stocks which led to
a sharp contraction in orders placed by retail stores and to a
subsequent decline in production.
The reductions in output in April and May as compared
with the previous quarter affected all consumer durable
products and ranged from 15 percent for electric ranges, to
more than 50 percent for television receivers. The decline
in passenger car production from the first to the second
quarter was 7 percent. Metal cutbacks, announced for
the third quarter by N. P. A. arc expected to reduce passenger
car completions to 1,200,000, a drop of 20 percent from the
second quarter and more than one-third from the peak rate
attained in the same quarter a year ago. As a result of
material restrictions, plant shutdowns varying from a week
to 2 weeks or more with consequent lay-offs in production
workers have already been put into effect throughout most
of the industry.
The curtailment in buying has been most pronounced for
television receivers, where the special influence of colortelevision has been an additional factor. The number of
sets produced in May was more than 50 percent below the
record March rate and represented the lowest monthly volume with one exception since December 1949. In contrast,
output of radios was maintained close to the first quarter
rate. Washing machines, vacuum cleaners and home freezers
registered declines of about 20 percent. Production of
refrigerators which normally increases sharply from the first
to the second quarter was also off—about 20 percent. Despite the reductions in output of consumer durable goods in
the second quarter, the flow of these products to consuming
markets was still higher than in any other year except for
1950.
80
as consumers' durables and housing decline
140
HOUSING STARTS
PASSENGER CARS
120
100
80
MAJOR APPLIANCES,
RADIOS. AND
TV SETS
60
and consumers' nondurables stabilize.
140
120
100
I
80
I960
U. S. DEPARTMENT OF COMMERCE, OFFICE: OF BUSINESS ECONOMICS
1951^
51-169
1
Data for the second quarter, except for passenger cars, are totals of April and May raised to
quarterly rates; passenger cars are total for the quarter.
Source of data: Indexes, U. S. Department of Commerce, Ollice of Business Economics,
based upon data from other governmental and private agencies. (See also text footnote 1)
The rise in stocks of television sets is striking, from around
500,000 at the beginning of the year to 1,200,000 at the
end of May, or close to 4 times the production rate for
May and nearly double the monthly average for the first
6
SUEVEY OF CURRENT BUSINESS
quarter of 1951. Retail stocks of television sets are also
high. Although manufacturers' holdings of radios also rose
they were still generally low in relation to sales. Stocks of
other household appliances are also considerably above a
year ago.
Nondurable goods reflect steady demand
In the consumer nondurable goods segment production
of finished products has been considerably more stable with
increases in some lines offsetting decreases in others. The
rise in output following Korea,
however, was much less than
that shown for producers7 equipment and consumer hard
goods. Although output of textile fabrics which is used to
represent production of clothing in the index shown in the
bottom panel of the chart has remained generally high,
clothing production, on the basis of the latest data available,
has shown some decline. Production decreases also occurred
in alcoholic beverages where inventories have been built up
to a record volume, and in refined petroleum products, the
latter largely due to seasonal influences. In other lines producing finished goods, such as food, tobacco, and shoes,
output was generally stable.
Current Trends in Capital Outlays
Businessmen continue to make upward adjustments in
their plant and equipment programs, according to the latest
survey by the Office of Business Economics and the Securities
and Exchange Commission. Reports submitted by nonagricultural concerns during May and early June indicate that
capital outlays in the second quarter of this year are now
estimated at $6.4 billion as compared to $6.1 billion reported
3 months ago.
Similarly, currently anticipated expenditures of another
$6.4 billion (see table 2) in the third quarter are appreciably
higher than implied in the previously reported programs for
the second half of 1951. Although actual additions to productive facilities in the first quarter were 6 percent lower
than anticipated, a downward adjustment of about this
magnitude has occurred in every first quarter survey in
this series.
The stepping up of current investment programs is particularly marked in industry groups most related to the defense
program. The upward revisions are also relatively greater
among the larger firms than among the smaller companies.
Although the influence of the accelerated tax amortization
program was not surveyed, the continuing flow of certificates
of necessity averaging about $250 million a week in the past
3 months played a significant role in stimulating investment
programs. In addition, most materials have been in better
supply than envisioned earlier this year.
Expansion in 1951 programs likely
Fixed investment in the second and third quarters of this
year are scheduled at seasonally adjusted annual rates of
$25.5 billion and $26.5 billion, respectively. If this planned
rate of investment is realized, it is likely that the $23.9 billion
anticipated in the early part of this year for the entire year
1951 will be exceeded. In view of the stability in capital
goods costs in recent months, it may well be that most of the
upward revision will represent larger physical additions to
capacity.
A comparison of the last two surveys indicates that all
major industries except mining and nonrail transport will
probably invest more in 1951 than previously anticipated—
with only the latter group apparently adjusting its scheduled
outlays downward. The bulk of the upward revision for this
year appears to be in manufacturing—due primarily to the
nonferrous metals, aircraft and other transportation equipment, food and paper industries. No major manufacturing
July 195
Chart 7.—Business Expenditures for New Plant and Equipment
Third quarter capital outlays are planned at
60 percent above the pre-Korean rate
BILLION
DOLLARS
10 -
with manufacturers accounting for more than
two-thirds of the total increase.
20
I
10
MANUFACTURING
i
Other major industries are also expanding
their programs, but more moderately.
20
- ANTICIPATED-
10
NONMANUFACTURING
I960
I
1951
QUARTERLY TOTALS, SEASONALLY ADJUSTED, AT ANNUAL RATES
U. S. DEPARTMENT OF COMMERCE, OFFICE OF BUSINESS ECONOMICS
51-160
1
Data exclude expenditures of agricultural business and capital outla'ys charged t» current
account. Anticipated expenditures for second and third quarters of 1951 were reported by
business during May and early June.
Sources of data: U. S. Department of Commerce, Office of Business Economics, and Securi
ties and Exchange Commission.
group indicates any significant reduction from its earlier
investment program. In connection with the capital programs of the nonrail transport companies, it may be noted
that with the exception of water transportation almost all
applications for certificates of necessity by these carriers are
still pending action.
SURVEY OF CUERENT BUSINESS
fuly 1951
Table 2.—-Expenditures on New Plant and Equipment by U. S. Business 1945— 51 ':
[Millions of dollars]
1951
19 50
Item
1945
Manufacturing
vlinino;
lailroad
)ther transportation
Electric and gas utilities-Commercial
and miscellaneous 3
_ - _
Total __
_-
1946
3,210
440
550
320
630
1947
5,910
560
570
660
1,040
7,460
690
910
800
1,900
1948
8,340
800
1,320
700
2,680
1949
7,250
740
1,350
520
3,140
1950
JanuaryMarch
8,220
680
1,140
440
3,170
AprilJune
1, 520
1,860
650
760
150
230
80
160
300
QO
JulySeptember
OctoberDecember
JanuaryMarch
2,050
180
290
120
820
2,790
200
320
140
940
2,460
180
300
120
750
April-2
June
3,240
220
440
140
950
JulySeptember 2
3,270
220
410
130
1, 000
1,480
3,300
4,430
5,390
5,120
4,920
1, 060
1,160
1,240
1,440
1,340
1.420
1,370
6,630
12, 040
16, 180
19, 230
18, 120
18, 560
3,700
4, 330
4,700
5,830
5,160
6,420
6,400
1
2
Date exclude expenditures of agricultural business and outlays charged to current account.
Anticipated expenditures for the second and third quarters of 1951 were reported by business during May and early June.
Scheduled expenditures increasing
at slower rate
While capital outlays planned in the third quarter represent
a continuation of the upward trend in expenditures which
began early in 1950, some slackening in the rate of increase
is indicated. The rise anticipated between the second and
third quarters is (after seasonal adjustment) only 4 percent as
against a rate of increase of about 10 percent between each of
the previous five quarters. Capital goods costs, however,
have been on a plateau in the past few months so that less of a
slackening is implied in the physical volume of additions.
3
Data include trade, service, communications, construction and finance.
Source: U. S. Department of Commerce, Office of Business Economics, and Securities and
Exchange Commission.
On an industry basis, the upward trend in plant and equipment expenditures in the third quarter is confined to manufacturing and the electric and gas utilities, with other major
industries expecting to maintain second quarter rates. As
can be seen in chart 7, manufacturing continues to be the
main area of expansion, particularly in such industries as
primary metals, the metal fabricating group, and paper and
pulp. Third quarter programs of manufacturers as a whole,
however, also indicate a slowing down in the rate of expansion. Planned capital outlays in the third quarter are 6
percent higher than in the second quarter as against 10 to 20
percent increases in earlier quarters. The electric and gas
utilities are the only major group not evidencing a slackening
in their rate of growth.
(suty 1951 C^altlon
I lew
National Income
i to th
u o+ (C
THE ENLARGED NEW EDITION-FIRST SINCE I947-CONTAINS
•
•
•
•
•
National income and product statistics, 1929-1950
A review of economic trends in the past two decades
The basic principles underlying national accounts
An explanation of methods and sources
Allowance for inflation: constant vs. current dollars
This 1951 edition, like the original, is not included in the Survey of Current Business
subscription, but is sold as a separate publication by the Superintendent of Documents
and affiliated sales agencies. A list of Department of Commerce field offices where it
may be procured appears on the inside front cover of this magazine.
SURVEY OF CURRENT BUSINESS
8
July 113,
National Income and Corporate Profits, First Quarter 1951
1 HE national income moved rapidly upward over the past
year, reaching the annual rate of $269 billion in the first
quarter of 1951. The rise over the initial quarter of 1950
was $50 billion, or more than one-fifth.
The advance in income during the past year flowed from
an increase in all major shares of income. Expansion in
wages and salaries stemmed from increases in employment
and wage rates. The sharp upsurge in earnings of farmers
and other individual business proprietors reflected the
stimulus of expanding demand and higher prices. These
same basic influences also accounted for the rapid advance
in corporation profits. The movements of the income
shares were reviewed in the May issue excepting the corporate
profit component, for which data have only now become
available.
Profit trends
Since early 1950, corporate profits have risen rapidly as all
sectors of industry participated in the business upswing.
Total book profits before taxes advanced from $31.9 billion
(annual rates) in the first quarter of last year to $50.3 billion
in the fourth quarter of 1950. Of the increase, over $10.3
billion were carried into the net after taxes, raising the latter
to $27.8 billion in the fourth quarter. In that quarter
dividends moved up to a postwar high as many companies
passed on year-end extras. Nevertheless, dividends still
represented only two-fifths of earnings after taxes, the remainder being retained by corporations to finance their large
capital expenditure programs and for other working capital
and reserve purposes.
In the first quarter of this year the rise in corporate profits
before taxes slackened—the advance being about 3 percent,
on a seasonally adjusted basis, over the fourth quarter rate.
As a result of the new provisions of last year's tax bills becoming fully applicable in the first quarter, the tax liability
was raised to an over-all rate of about 55 percent of profits
before taxes, so that profits after taxes were reduced from
$27.8 billion in the fourth quarter to about $23.3 billion in
the first quarter of this year, at seasonally corrected annual
rates. Dividend payments in the first quarter dropped below
those of the final quarter of 1950, largely because of the
unusual volume of year-end special dividends in the former
period.
An important factor affecting profit trends in 1950 and
early this year was the rise in prices, since, by usual accounting methods, inventory profits arise whenever prices are
advancing. The inventory profits are calculated at over $8
billion at annual rates in both the third and fourth quarters
of 1950 and were of similar importance in the first quarter of
1951. Thus, in the fourth quarter of 1950, corporate
profits on a national income basis—that is, with an adjustment to remove the effects of inventory profits—were $42
billion at an annual rate, compared with reported book
profits of $50 billion.
Many industries showed lower book profits before taxes,
unadjusted for seasonal variations, in the first quarter of
this year than in the preceding quarter. Among those
showing gains in unadjusted earnings before taxes from the
final quarter of 1950 were the textiles, lumber, paper, chemicals, and machinery (except electrical) industries. The
aircraft industry, notwithstanding a huge and growingbacklog of Government business, had lower profits than in
the preceding quarter and only moderately higher profits
than a year ago. Table 4, (page 26), presents unadjusted
quarterly profits by broad industrial groups.
[Continued on page 26}
Table 3.—-National Income and Product, 1948-1950, Last Tw<
Quarters 1950 and First Quarter 1951
[Billions of dollars]
Seasonally adjustt
at annual rates
1948
NATIONAL INCOME BY
DISTRIBUTIVE SHARES
National income _ _ _ _ _ _
1949
1 950
H 50
1951
III
IV
I
I
_ _ _ _
223.5
216.7
239.0
245 8
260 1
269
Compensation of employees
Wages and salaries
Private
Military
Government civilian
Supplements to wages and salaries
140.2
134.4
115.7
4.0
14.7
5.8
139. 9
133. 4
113.0
4.2
16 1
6.5
153. 3
145 8
123.6
5.1
17 2
7.5
157. 3
149 7
127 2
5.0
17 5
7.7
165.2
157 2
132 7
6.6
17 9
7.9
J72.
163
137
47.3
22.1
17.7
7.5
41.4
20.9
13 0
7.5
44.0
22.3
13 7
80
45.6
23.2
14 3
81
47.2
23.0
15 8
8 4
48.1
24.
16 -
Corporate profits and inventory valuation
adjustment _ _ _
Corporate profits before tax
Corporate profits tax liability
Corporate profits after tax
Inventory valuation adjustment
31.7
33.8
13.0
20.7
-2.1
30.5
28.3
11.0
17.3
2.1
36.2
41.4
18.6
22.8
-5.1
37.4
45.7
20.5
25.2
-8.3
42.2
50.3
22.5
27.8
-8.2
42. S
51..
28. .
23. £
—SA.
Net interest
Addendum: Compensation of general government employees
4 3
4 9
5 4
55
5 6
5 f
17.4
19.4
20.9
21.1
23.1
25.2
259.0
257.3
282.6
287.4
303.7
318.5
177.9
22.9
100.9
54.1
180.2
23.9
98.7
57. 6
193. 6
29.2
102.3
62.1
202.5
34.3
105.5
62.7
198.4
29 4
104 9
64.0
208. 2
31.5
111.5
65.2
42.7
17 7
8.6
9.1
19.9
5.0
3 7
33. 0
17 2
8.3
9.0
19.0
-3.2
2 5
48.9
22 1
12.6
9.5
22 5
4.3
36
47.3
23 5
13.7
9.8
24.5
59. 6
23 9
12.9
11.0
26 5
9.3
S I
19
.5
—2.3
—3 2
60.2
23 3
13. 1
10.2
25.0
11.8
10 6
2 7
36 6
21.7
.0
15. 6
43 6
25.9
.4
18.1
42 5
23.1
.2
19.7
40 8
21.4
47 8
27.5
19.7
20.4
52 9
32. 1
.2
21.1
Personal income
209.5
205.1
224.7
227. 3
238. 3
244. 1
Less: Personal tax and nontax payments
Federal
Stats and local
Equals: Disposable personal income
Less: Personal consumption expenditures
Equals: Personal saving.
21.1
19.0
2.1
188.4
177.9
10.5
18.6
16. 2
2.5
186.4
180.2
6.3
20.5
17.8
2.7
204.3
193.6
10.7
20.2
17.5
2.7
207.1
202.5
4.6
23.1
20.3
2.7
215.2
198. 4
16.8
26. (i
23. S
2.8
217. 5
208. 2
9.3
Proprietors' and rental income
Business and professional
Farm
Rental income of persons
8.
8.;
GROSS NATIONAL PRODUCT OR
EXPENDITURE
Gross national product
Personal consumption expenditures
Durable goods
Nondurable goods
Services _
Gross private domestic investment
New construction
Residential n on farm
Other
Producers' durable equipment
Change in business inventories, total. _
Nonfarm only
Net foreign investment
Government purchases of goods and services
Federal
Less: Government sales
State and local
I g
DISPOSITION OF PERSONAL INCOME
RELATION OF GROSS NATIONAL
PRODUCT, NATIONAL INCOME, AND
PERSONAL INCOME
259.0
257.3
282.6
287.4
303.7
318. 5
17. 6
Less: Capital consumption allowances
Indirect business tax and nontax liability. 20.4
Business transfer pavments
Statistical discrepancy
-32
Plus: Subsidies less current surplus of Govern0
ment enterprises
19.1
21.7
21.2
23.8
.8
—1 8
21.8
25.3
.8
—6.4
22 2
213
22. 6
25. 9
-3.4
5
.3
-.1
2
s
223.5
216.7
239.0
245.8
260.1
269. 4
31.7
5.2
30.5
5.7
36.2
7.0
37.4
7.0
42 2
7.4
42. V)
0
10. 5
4.5
7 2
-
0
11.6
4.6
7 6
.7
0
14.3
4.7
9 2
.8
0
11.0
4.7
9 4
.8
0
11.1
4.7
11. 1
.8
0
11.5
4.*
S. 8
209.5
205.1
224.7
227.3
238.3
244.1
Gross national product
Equals: National income
Less: Corporate profits and inventory valuation adjustment
Contributions for social insurance
Excess of wage accruals over disbursements
Plus: Government transfer payments
Net interest paid by Government
Dividends
Business transfer payments
_ __ _
Equals: Personal income ._
— 8
0
Source: U. S. Department of Commerce, Office of Business Economics.
8.3
.s
By William
Weinfeld
Income of Physicians, 1929-49
This is the third detailed article on professional incomes published hy the Office of Business Economics
since 1944.
It brings up to date the information on
physicans' incomes in the October 1943 Survey of Current Business, which provided data through 1941.
The
first article of the series (in the August 1949 issue of
the Survey) discussed lawyers' incomes from 1929—48.
The second (in the January 1950 issue) covered dentists' incomes from 1929—48.
In addition, a brief arti-
cle in the July 1950 issue provided 1949 data for the
first time for dentists and lawyers.
Ji HYSICIANS engaged in civilian practice in the United
States—including salaried as well as independent practitioners, but excluding interns, residents, and teachers—reported an average net income of $11,058, before taxes,
in 1949. ^
Physicians whose major source of medical income was
from independent practice averaged $11,858, whereas salaried physicians—excluding interns and residents—averaged
$8/272.
In the 20-year period since 1929, the average net income
of all civilian physicians more than doubled, but this relative increase was practically identical with that for all
earners in the general population over the same period.
Physicians who were members of partnerships reported
an average net income of $17,722 in 1949 as against $10,895
for those not practicing as members of partnerships. However, only one out of every seven independent practitioners
in the United States was a member of a partnership.
Among independent physicians, full specialists reported
an average net income of $15,014 for 1949. This was 70
percent more than the average income of $8,835 reported
by general practitioners. Part specialists were in between
with $11,758. The income difference between general practitioners and full specialists has narrowed appreciably since
1929. Neurological surgeons, with an average net income
of $28,628, had the highest incomes among full specialists
in 1949. Pathologists, with $22,284, and gynecologists,
with $19,283, followed. 7
Regionally, physicians incomes were—on the average—
highest in the Far West and lowest in New England. The
highest average incomes earned by independent practitioners were found not in the largest cities, but in places of about
350,000 population. Their average net incomes in cities of
more than a million population were less than those in all
other size groups except places with fewer than 2,500 inhabitants.
NOTE: MR. WEINFELD IS A MEMBER OF THE NATIONAL INCOME DIVISION, OFFICE OF BUSINESS ECONOMICS. MISS JEANNE STIEFEL OF THAT
DIVISION ASSISTED MATERIALLY IN PREPARING THE TABULATIONS
USED IN THIS ARTICLE.
953914°—51-
Independent practitioners reached their peak average
earnings ($14,967) between 45 and 50 years of age. Salaried
physicians reached their peak income ($10,226) roughly at
the same age.
Extensive Survey of Physicians' Incomes
These are some of7 the highlights of a recent Nation-wide
survey of physicians incomes made in 1950 by the Office of
Business Economics of the Department of Commerce, in
cooperation with the Bureau of Medical Economic Research
of the American Medical Association. In all aspects of the
collection of information, the two agencies worked closely
together—in the design of the questionnaire; in the selection,
addressing, and mailing of the sample cases; and in the effort
necessary to achieve the high response that was realized.
The tabulation and analysis of the data presented in this
article were the sole responsibility of the Department of
Commerce. Although the Department also had the benefit
of the AMA's suggestions and comments on its analysis, the
AMA assumes no responsibility for any statements made in
this article.
The full cooperation of the American Medical Association
in every phase of this survey is gratefully acknowledged,
PERCENTAGE DISTRIBUTION OF NONSALARIED
PHYSICIANS
BY NET INCOME LEVEL, 1949
PERCENT OF PHYSICIANS
12
10
-$6,OOC
$10,000
$20,000
$30,000
$40,000
$50,000
NET INCOME LEVEL
(/. $. DEPARTMENT OF COMMERCE, OFFICE OF BUSINESS ECONOMICS
Covering the period 1945-49, inclusive, this is the fifth,
large-scale, sample survey of economic conditions in the
medical profession conducted by the National Income
Division of the Office of Business Economics. Further
SURVEY OF CURRENT 1 BUSINESS
10
details on the nature and scope of the survey will be found
in the Technical Notes at the end of the article.
It is a pleasure to acknowledge at this point the debt
owed to the 55,000 physicians throughout the country whose
voluntary and generous cooperation in filling out and returning their income questionnaires made the present study
possible. In the history of these surveys of the major
independent professional groups made by the National
Income Division, no other survey has attained such a high
rate of response—42 percent—or even approached it. This
remarkable record on the part of America's physicians is
indeed noteworthy, and we are certain that this cooperation
will be rewarded by this most extensive body of information
on major aspects of the economics of the profession.
Trends in Average Incomes
July 195:
rently physicians
have larger average incomes. In terms
of mean 4 net income, lawyers were slightly above physicians
through 1940, but since then have dropped considerably
behind. In terms of median net income, however, lawyers
have been lower than physicians all through the 1929-49
period. From 1929-49, the mean net income of nonsalaried
physicians increased by 125 percent. In contrast during the
same period the mean net income of nonsalaried lawyers
rose from $5,534 to $8,083, a 46 percent increase.
Unlike lawyers, dentists have had lower median and mean
net incomes than physicians throughout the 1929-49 period.
However, whereas in 1929 the median income of nonsalaried
physicians was only slightly higher than that of dentists,
two decades later it was more than 50 percent greater. Nonsalaried dentists advanced from a mean net 5 income of
$4,267 to one of $7,146, for a 67 percent increase.
Physicians versus other ivorkers
Average income and the business cycle
From 1929 to 1949 average net income1 of all civilian
physicians—excluding interns, residents, fellows, medical
school personnel, arid physicians in the
armed forces—
doubled, climbing from $5,304 to $11,058.2 During the same
period, all earners in the general population (wage and salary
workers, as well as independent business and professional
workers) recorded almost the identical relative increase
(109 as compared with 108 percent) as all physicians.
The increase in dollar incomes of physicians since 1929
represents a very substantial increase in "real" incomes.
No indexes are available covering the cost of living of professional persons, but it is probable that no more than half
of the increase was offset by higher prices, since the consumer price index, based upon a wage earner's budget, was
up about two-fifths over 1929 prices.
The average net income of nonsalaried physicians (like
that of other professionals) has followed a course 6closely
similar to the trend in general economic conditions. (See
table 1.) Thus,7 with the onset of the depression late in
1929, physicians incomes started to decline, reaching their
low point in 1933 (mean, $2,948), by which time they were
some 44 percent lower than their 1929 peak.7 Dentists' incomes fell 7somewhat more than physicians (49 percent),
but lawyers incomes fell considerably
less (30 percent) than
either. Since then, physicians7 incomes have increased
steadily, with a marked acceleration during the war years,
followed by a much slower rise in the postwar period. Two
exceptions to the general trend already described were the
slight set-back in 1938 as a result of the recession, and the
drop in 1946 when most physicians in the armed forces
returned to civilian life.
Physicians versus other professionals
With available current data, it is possible to make approximate comparisons of the incomes of independent
practitioners
in the medical, legal, and dental fields.3 Since most of the
members of these groups are in independent practice, the
comparisons are significant. Approximately two-thirds of
the physicians are nonsalaried, a slightly smaller proportion
of the lawyers, and nearly nine-tenths of the dentists.
In 1929, nonsalaried physicians earned—on the average—
roughly the same income as nonsalaried lawyers, but cur1 If interns, residents, and fellows were included in the concept of civilian physicians, the
average net income of all physicians would be lowered by perhaps 10 percent.
The 1929 figure is from: Maurice Leven, The Incomes of Physicians, University of Chicago
Press, Chicago, 1932, table 1, p. 20.
2 The term net income, as used throughout this article, is defined as salaried income from
medical work plus net income from independent medical practice. The latter item consists
of gross income less the costs of independent practice. All nonmedical income is excluded,
and all income is before the payment of income taxes.
Examples of "costs of independent practice" as given on the questionnaire are: "Salaries
and wages paid to your professional and nonprofessional employees before income tax, Social
than long-time equipment; deprec
cost of laboratory services rendere<
telephone and other service costs."
Althoug'
was somet
3 The avaj-ieiuic uai/a aic uauaii j ILL uciiiioui
mjiicscn'
but these two groups generally differ by very little.
An independent physician or practitioner (the "major independent" category in the tables)
is one whose major source of medical income is from independent practice. Thus, this concept
includes nonsalaried physicians as well as part-salaried physicians whose major source of
medical income is from independent practice. A nonsalaried physician is one whose sole
source of medical income is from independent practice.
A salaried physician (the "major salaried" designation in the tables) is one whose major
source of medical income is from salaried practice. Thus, this concept includes all-salaried
physicians as well as part-salaried physicians whose major source of medical income is from
salaried practice. An all-salaried physician is one whose sole source of medical income is from
salaried practice. Salaried physicians exclude interns, residents, etc. (See below.)
received no gross income irom meaicai rees ana no meaicai saiaryj. ivieaicai wont was
defined as work normally done by a physician, including the practice of medicine for fee or
salary and medical administration.
4
All the comparisons made in the article up to this point have been in terms of the (arithmetic) mean—the most common measure of average or typicality—often called simply the
"average." The mean income is the sum of all incomes divided by the number of income
recipients. A second important measure of average—but one in less common usage—is the
median. We may define the median income as that income below which (and above which)
half of all the income recipients fall.
The exclusive use of the more common measure of average (i. e., the mean) is often not
adequate, and, indeed, may be misleading. For example, in comparing the average net
incomes of physicians and lawyers, the presence of a relatively small number of very highincome lawyers could cause the mean net income of lawyers to be larger than that of physicians
even though most laiuyers had lower incomes than most physicians. (See below.) The median,
on the other hand, is not affected by a few high-income cases (whether gains or losses). The
summary description of a body of economic data in terms of the median, when taken together
with that in terms of the mean, often serves to provide a better understanding of the nature
of the materials under study.
Thus, we find that from 1929 to 1949 the median net income of nonsalaried physicians
increased even more than their mean net income—climbing from $3,758 in 1929 to $9,561 in
1949, an advance of 154 percent (as compared with 125 percent increase in the mean).
Before 1941 the very high net incomes earned by a relatively small number of lawyers were
enough to pull lawyers' mean incomes above those of physicians, in spite of the fact that most
lawyers had smaller incomes than most physicians (as reflected by the value of the medians).
Since 1941, however, even the extreme cases were not sufficient to maintain the earlier situation, and as a consequence physicians have had both higher mean and median net incomes
than
lawyers annually from 1941 through 1949.
5
In terms of mean net income, nonsalaried lawyers ($8,083) in 1949 ranked a poor second
behind physicians ($11,744), while dentists ($7,146) ranked third. In terms of median net
income, on the other hand, dentists ($6,140) were a poor second behind physicians ($9,561),
with
lawyers ($5,787) trailing dentists.
6
In all tables based on the present survey, a physician in active practice is treated as one
person for a given year, regardless of the number of months he was in active practice during
that year. Likewise, the income represents the actual amount he earned during the year,
and not the amount he might have earned had he worked the full year. In 1946, with so
many physicians working for only part of the year—after leaving the armed forces—mean net
income on a year-equivalent basis was somewhat larger than on the unadjusted basis given
in the text. For other years, the differences were much smaller.
The comparative figures on mean and gross net income of nonsalaried physicians on the
two bases are given below:
Item
Net income:
Mean income per different physician..
Mean income per year-equivalent
physician
Gross income:
Mean income per different physician..
Mean income per year-equivalent
physician. .. .
...
...
1945
1946
1947
1948
$10, 975 $10, 202 $10, 726 $11, 327
1949
$11, 744
11, 302
10, 857
11,029
11,672
17, 350
16, 536
17, 742
18,921
19, 710
17, 867
17, 597
18, 244
19, 498
20, 254
12, 063
SURVEY OF CURRENT BUSINESS
July
Table 1.—-Average Gross and Net Incomes
Physicians, 1929-49 1
of Nonsalaried
Median
net
income 3
39.0
11
training of physicians during World War II, it may be as
high as 190,000.8 Of this number, about 7,250 are9 interns
and approximately 17,500 are residents or fellows. There
were perhaps 160,000 physicians in active civilian practice,
exclusive of interns and residents, in the United States in
1949.
Ten years earlier the comparable figure was about
150,000, in addition to which there were about 7,000 interns,
about 6,000 10
residents and fellows, and some 2,500 in the
armed forces.
Trend in the Costs of Practice
f>3. 3
(il.7
GO. 5
59. 9
59. 0
1
Data presented here and elsewhere in this article on physicians' incomes for the period
1929 through 1941 are for the most part from Edward F. Dcnison and Alvin Slater, "Incomes
in Selected Professions: Part 4, Medical Service," SURVEY OF CUHREXT BUSINESS, October
1943, and Edward F. Denison, "Incomes in Selected Professions: Part 6, Comparison of
Incomes in Nine Independent Professions," SURVEY OF CURRENT BUSINESS, May 1944.
The 1929 median net income was estimated by the present author by applying the ratio
(1.390) between the mean ($5,700) and the median ($4,100) as jjivcn by Loveri to Denison's
mean ($5,224). See Maurice Levon, The Incomes of Physicians, University of Chicago Press,
Chicago, 1932, table 5A, p. 109. This ratio accords well with that calculated from Friedman
and Ivuznets: the mean for independent physicians for 1929 ($5,910) divided by the median
($4,223) gives a ration of 1.401. See Milton Friedman and Simon Kuznets, Income from
Independent Professional Practice, National Bureau of Economic Research, Nc\v York, 1945,
table 10, p. 101. Figures for 1942-44 are estimated. Figures for 1945-49 are from the 1950
Survey
of the Medical Profession.
2
Wherever used in this article the term "gross income" refers to the gross receipts of independent physicians from medical work; it always [excludes salaries received as a physicianemployec, as well as receipts from nonmedical work.
The median gross incomes of nonsalario.d physicians are available only for the years 194549,3 and arc as follows: 1945— $12,877; 1946— $12,427; 1947— $13,779; 1948— $15,040; 1949— $10,108.
As used in this article the term "net income" refers to the incomes of physicians from
medical work after the deduction of business expenses, but before the deduction of income
taxes. It includes salaries received as a physician-em
physician-employee, if such were earned (nonsalaricd
physicians receive no salaries), but excludes receipts
ts from nonmedical work. For a more
detailed
definition, see footnote 2 in the text.
4
Figures on the standard deviation for net income are available only for the years 1945-49,
and are as follows: 1945— $10,599; 194G— $9,794; 1947— $9,704; 1948— $10,004; 1949— $9,817. The
coefficient of variation (in percent) for the same years is: 9G.6; 96.0; 90.5;
88.3; and 83.6, respectively. (See footnotes 3 and 4 in table 3 for explanations of these tw r o measures.)
s Data not available.
Source: U. S. Department of Commerce, Office of Business Economics.
Trend in the Supply of Physicians
Between 1929 and 1940 the number of physicians in
independent practice in the United States increased from
119,000 to 129,000. By 1941, however, the number of
physicians in civilian practice started a sharp decline as
some 60,000 were eventually recruited
from civilian life to
serve with the armed forces.7 Despite the adoption of
accelerated programs of undergraduate training and the
return of many retired physicians to active practice, the
number of physicians in civilian practice continued to decline
through the summer of 1945. With the end of the war,
however, the rapid demobilization of men from the armed
forces quickly increased the number of physicians in independent practice again.
As this article goes to press, we have very little reliable
data on the number of physicians in civilian practice.
According to decennial census data, there were 153,803
physicians in active practice in the United States in 1930 and
165,629 in 1940. These figures include interns, residents,
fellows, and physicians in the armed forces, as well as independent and salaried practitioners. The comparable figure
for 1950 is as yet unknown, but because of the accelerated
? Whereas in 1940 only about 2,500 physicians were on active duty with the armed forces,
by 1945 the number on active duty had mushroomed to approximately 60,000. By 1949 it
had dropped to about 7,000. These figures are not restricted to physicians who were in
independent practice in civilian life; they also include salaried physicians, interns, resi
dents, and fellows.
Lack of space forbids more than a brief mention of the
findings on the costs of practice. Between 1945 and 1949,
payroll expenses and other costs incurred by physicians were
an increasing proportion of gross income, with the result
that the nct-to-gross income ratio declined steadily during
the 5-year period from 63.3 to 59.6 percent. Payroll expenses were roughly one-tenth of gross, all other costs
about one-fourth. Table 2 presents these data in more
detail.
Income Differentials Among Physicians
An average is primarily a shorthand device for reducing
the complexity of a wide range of figures to a single figure
that the naiiicl can more easily grasp. Therefore, it is also
important to study the income distribution itself, as well as
the absolute and relative variations among the incomes.
Physicians' net incomes, as reported in the current survey, ranged from a loss of about $5,000 to a net profit of
more than $200,000. (Gross incomes reported by physicians ranged from about $100 to $550,000.) Almost one
out of every 100 physicians reported a net loss in 1949. One
out of every 14 made less than $2,000 net income; almost
one out of 4 made less than $5,000. At the other extreme,
1 out of 8 made over $20,000, while 1 out of 15 reported
over $25,000. (See table 3 and the preceding bar diagram.)
Despite large fluctuations during the depression years,
physicians' incomes have shown a strong tendency to
become less unequally distributed since 1929. (See Lorenz
curves.) Since 1946, particularly, the decline in the coefficient of variation—one measure of relative dispersion—
has been most marked. (See table 1, footnote 4.)
Factors Making for Income Differentials
What are the important factors affecting the amount of
income which different physicians receive? Clearly, some
of the potentially significant factors—e. g., personality,
business acumen, health, ambition and drive, mental aptitude, physical skill, and family connections—cannot be too
readily measured.
Nevertheless, the present study probably does cover one
of the largest groups of diversified factors associated with
professional income size yet analyzed by the Department of
Commerce. Thus, it is possible to consider the relationship between physicians' incomes and such significant factors as form of practice (independent versus salaried; partners versus nonpartners), degree and field specialization,
geographic location (region and State), size of community,
full-time versus part-time practice, age, and sex.
s The American Medical Directory, 1950 (published by the American Medical Association)
gives a figure of 201,277 living physicians in continental United States (as of about July 1949).
Of these, some 9,700 are reported to be retired or not in practice (op cit., tables 1 and 3, pp. 9
and 11).
• See: "Approved Internships and Residencies in the United States, 1950," Journal of the
American Medical Association, April 15, 1950, pp. 1146 and 1148.
" For data on interns and residents, see Journal of the American Medical Association, Juno
20, 1942, p. 651. Data on the armed forces were estimated.
SURVEY OF CURRENT BUSINESS
12
Table 2.—Average Gross Income, Net Income, and Expenses of
Physicians by Source of Medical Income, 1945-49
Item l
1945
1946
1947
1948
1949
All physicians
Mean amount:
Total net income. -
$10, 242
$9, 493
$10. 112
$10. 634
$11,058
7, 559
7,012
7.791
8, 268
8, 835
Mean amount:
Gross income
Payroll expenses
Other costs of practice
Net income
1 7, 350
1,924
4, 551
10, 975
16, 536
1, 966
4,368
10, 202
1 7, 742
2,187
4, 829
10, 726
18,921
2,430
5, 164
11,327
19, 710
2,608
5, 358
11,744
Median amount:
Gross income
Net income
12, 877
8,073
12, 427
7, 523
13, 779
8, 256
15,040
8,939
16, 108
9, 561
100.0
11 1
25. 7
03.3
100.0
11 9
26.4
61.7
100.0
12 3
27.2
60. 5
100.0
12 8
27.3
59.9
100. 0
13 2
27 2
59. 6
$11.752
1,248
3, 614
$11,384
1, 230
3, 587
$12, 169
1,447
3, 753
$12, 476
1,444
4,029
$12,781
1,424
4,038
6,890
3,018
9,908
6, 567
2,869
9,436
6, 969
3,230
10, 199
7,003
3, 435
10, 438
7,319
3,609
10, 928
7,803
7, 750
7, 465
7, 268
7, 979
7, 906
8,347
8.098
8, 993
8, 76d
7, 066
6, 092
6, 528
5, 706
7, 459
6, 697
7,943
7,258
8, 434
7,678
Median amount:
Total net income
Nonsalaried physicians
Percentage of gross2 income:
Gross income
Payroll expenses
Other costs of practice
Net income
Part-salaried physicians
Mean amount:
Gross income
Payroll expenses. _ .
Other costs of practice
Net income from independent
practice
Salaried income
Total net income
July 195
practicing in the same city, and seems also to persist foi
those within a given city who are in the same age group
and have the same degree of specialization. In 1949, foi
the country as a whole, independent physicians earned £
mean net income of $11,858 as compared with $8,272 foi
salaried physicians. The comparable medians ($9,668 anc
$7,555) indicate a much smaller though still substantial
difference.
Differences in average income between independent and
salaried physicians seem even more marked in many cities
than for the country as a whole; indeed, for some cities
they are quite striking. The average net income of independent physicians is twice that of salaried physicians in
some places. Of course, since salaried physicians in a given
city tend to be younger than their independent colleagues,
part of the observed income differences are due to age
differences. However, significant income differences tend
to exist between independent and salaried physicians even
if size of community, age, degree of specialization, and sex
are all held constant. It seems fairly certain, too, that these
differences are not constant, but vary considerably from
city to city.
CUMULATIVE PERCENTAGE DISTRIBUTIONS OF
INDEPENDENT PHYSICIANS AND THEIR
NET INCOME FROM MEDICAL WORK
Median amount:
Gross income
Net income
100
All-salaried physicians
Mean net income
Median net income
-
- -
1 The term "gross income" always excludes salary income. "Net income" is gross income
from independent practice less business expenses plus salary income, if any, before taxes.
For more detailed definitions of these terms, see the footnotes to table 1.
Part-salaried and all-salaried physicians exclude medical school personnel, physicians in
the armed forces, and interns, residents, and fellows. See footnote 1, table 3, for a more
detailed
statement.
2
Detail will not necessarily add to total because of rounding.
Source: U. S. Department of Commerce, Office of Business Economics.
Form of practice
Independent versus salaried.—At the present writing,
figures are not yet available from the 1950 Census giving
the proportion of independent and salaried physicians. In
1940 the Census reported that 22.1 percent of all physicians
(including those in the armed forces, as well as interns and
residents) were salaried.11 If we deduct an estimated 2,500
armed forces
physicians, 7,219 interns, and 6,149 residents
arid fellows,12 we find that only 13.8 percent of the physicians
(the concept used in this article) were salaried in 1940.
Among respondents to the current survey, 22.3 percent of
the physicians in the United States in 1949 were engaged in
salaried work. To what extent this figure is a reliable
reflection
of the actual 1949 situation, we do not now
know.13
Physicians in independent practice earn considerably more
than salaried physicians. This difference holds true not
only for the country as a whole, but—what
is more significant—appears to hold consistently u even for physicians
u
Bureau of the Census, Population: Volume III, Labor Force: Part I , United States Summary, Washington, 1). C., 1943, pp. 98; 100-1; 103; 120-1; 124-5. Percentage calculated from
data
given in these pages.
12
Journal of the American Medical Association, .Tune 20, 1942, p. 651.
13 There is some reason to believe that because it is easier for salaried than for independent
physicians to fill in an income questionnaire, we normally get some over-representation of
salaried physicians in our surveys. However, the proportion of salaried physicians, according
to the results from the survey's green returns (see Technical Notes), does not seem to have
increased unreasonably from 1940-49: 1940-13.8 percent (U. S. Census); 1945—18.9; 194f>~20.9;
1947—21.4; 1948—21.7; 1949—22.3.
14
In a few of the largest cities, however, the advantage of the average independent over
salaried physician (especially in terms of the median) almost vanishes. In 1949, for example,
in New York City the median net income of independent physicians was $7,107, of salaried
$6,824; for Boston the comparable figures were $8,400 and $7,933.
60
80
PERCENT OF PERSONS CUMULATED FROM
LOWEST TO HIGHEST INCOMES
U. S. DEPARTMENT OF COMMERCE, OFFICE OF BUSINESS ECONOMICS
100
51-166
In 1929, although the mean net income of independent
practitioners for the country as a whole was 21 percent more
than that of their salaried colleagues, their median net
income was 21 percent less.15 In 1949, on the other hand,
independent physicians had considerably larger incomes than
salaried physicians, both in terms of the mean (43 percent
greater) and the median (28 percent greater).
The income size distributions for independent and salaried
physicians differ quite markedly. Independent physicians
is Leveu, op tit., table 1, p. 20.
SURVEY OF CURRENT BUSINESS
July 1951
show no large concentration of cases within any narrow
range, while salaried physicians do. Independent physicians
also have a disproportionately large number of cases (as
compared with salaried physicians) in the upper income
brackets, as well as—to a much lesser extent—in the lower
income brackets.
For example, 12.8 percent of the independent practitioners
made less than $3,000 in 1949, whereas only 8.8 percent of
Table 3.—Percentage Distribution of Physicians by Source of
Medical Income and Net Income Level, 1949
All physicians i
Item
Physicians with
major source of
medical income
from —
Physicians with entire source
of medical income from —
Allsalaried
practice
Independent
practice
Salaried
practice
Nonsalaried
practice
Partsalaried
practice
29, 878
100.0
23, 213
77.7
6,665
22.3
19, 906
66.6
5,013
16.8
4,959
16. 6
_ _
$11, 058
$ 8, 835
$11, 858
$ 9, 668
$8, 272
$7, 555
$11, 744
$ 9, 561
$10, 928
$ 8, 760
$8, 434
$7, 678
Absolute 3dispersion of net
income
Relative 4dispersion of net
income
$ 9, 170
$ 9, 898
$5, 076
$ 9, 817
$ 9, 311
$4, 843
82.9
83.5
61.4
83.6
85.2
57.4
Number reporting 2
Percent in each group
Mean net income
Median net income
Loss- $l-$5 999
08
09
0.5
10
0.7
2.7
3.8
4.6
5 2
6.0
3.1
4.0
4.8
51
5.7
1.4
2.9
4.0
58
7.3
3.5
4.2
4.8
50
5.8
1.4
3.6
5.3
6 2
6.5
1.0
2 2
3.1
5.0
6.7
$5,000-$5,999
$6,000-$6,999. .
$7,000-$7,999
$8,000--$8,999
$9,000-$9,999
6.2
7.3
7.5
7.0
5.4
5.7
5.8
5.6
6.0
5.0
7.9
12.4
14.0
10.5
6.9
5.5
5.8
5.5
6.0
4.9
7.2
7.1
7.0
6.8
5.5
7.8
13.5
15.7
11.3
7.3
5.3
3.9
4.8
3.4
3.3
5.4
4.5
4.6
3.3
2.9
8.1
5.1
3.8
1.3
1.1
$10,000-$10,999
$11,000-$! 1,999
$12,000-$! 2, 999
$13,000-$13,999
$14,000-$14,999
5.8
4.2
4.6
3.0
2.9
5.3
4.0
4.9
3.4
3.3
7.5
4.7
3.8
1.6
1.3
$15,000-$15,999
$16 000-$16 999
$17, 000-$! 7, 999
$18,000-$18,999
$19,000-$19,999 -
3.1
2 3
18
2.0
1.4
3.4
2 7
2.1
2.3
1.7
1.8
8
.9
.8
.4
3.4
2 6
2.1
2.3
1.7
3.1
2.4
1.9
1.8
1.5
1.6
.7
.8
.8
.3
1.7
1.1
1.2
.9
.8
2.0
1.3
1.4
1.1
1.0
.7
.2
.3
.1
.1
2.1
1.2
1.4
1.1
1.0
1.3
1.2
1.3
.8
.6
.7
.2
.3
.1
.2
$25,000-$27,499
$27,500-$29,999
1.8
10
2.2
12
.3
2
2.2
12
1.5
1.0
.3
.2
$30,000-$34,999
$35,000-$39,999
$40,000-$44,999 _ .
$45 000-$49 999
1.7
.9
.6
3
2.0
1.1
.7
4
.4
.1
.1
2.0
1.0
.7
4
1.4
.9
.5
3.
.4
.1
.1
$50,000-$74,999
.5
.6
.1
.6
.4
.1
$75,000 and over
.1
.1
.1
.1
100.0
100.0
100.0
100.0
Total 6
_ _
.
..
Table 4.—Average Net Income of Physicians by Specific Type of
Work in Which Engaged, 1949
Percent of physicians —
Specific type of work 1
$0-$999
$1,000-$!, 999
$2,000-$2,999
$3 000-$3 999
$4,000-$4,999
-
the salaried physicians were as poorly off. On the other
hand, 27.3 percent of the independent practitioners made
over $15,000, whereas only 7.3 percent of the salaried physicians made as much. And 8.3 percent of the independents
reported over $25,000 net, but only 1.2 percent of the
salaried physicians did. (See table 3.)
Specific type of work or form of organization.—In 1949 the
largest single group among physicians reporting in the present survey was independent physicians who practiced without partners. This group comprised two-thirds of all physicians. About one out of six of these physicians shared
office costs or assistants. The second largest group—independent physicians who are members of partnerships—
represented only 14 percent of the independent physicians.
(By contrast we find that a much larger proportion of lawyers
were members of partnerships—26 percent—but a considerably smaller percentage of dentists—3 percent.)16 Further
details will be found in table 4.17
Porr>onf Eio-o r\ icf ri'Hntinn Vnr nat innnmp lpvpl<5
•\TITT rwrniwrr TTTVTPT 5
$20,000-$20,999
$21,000-$21,999
$22,000-$22,999 _
$23,000-$23,999
$24,000-$24,999
13
100.0
100.0
1
Unless otherwise indicated, all the statistics presented in this article for the years 1945-49
exclude (1) physicians who received most of their medical income from a medical school;
(2) physicians in the armed forces; (3) interns; (4) residents and fellows; and (5) all physicians who were retired or were engaged exclusively in nonmedical work in the year in question (i. e., who received no gross income from medical fees and no medical salary). "Medical
work" was defined as work normally done by a physician, including the practice of medicine
for2 fee or salary and medical administration.
These figures refer to the number of tabulated cases, not to the actual number who reported. However, in this survey the difference between these two figures is negligible for
all 3 practical purposes.
The measure of absolute dispersion used here is the standard deviation. This measure
indicates the extent of absolute income dispersion (or spread) around the mean net income.
If all incomes were the same, the dispersion would be zero.
* The measure of relative dispersion used here is the coefficient of variation, which is the
standard deviation divided by the mean, expressed as a percentage. This gives a standardized measure of the relative amount of income dispersion, permitting the direct comparison of income spread among various groups or for different years.
5 "Net income" is gross income from independent practice less business expenses plus
salary income from salaried practice. It is always net income before taxes. For a more
detailed
definition, see footnote 2 in the text.
6
Detail will not necessarily add to total because of rounding.
Source: U. S. Department of Commerce, Office of Business Economics.
Major independent:
Without partners
Not sharing costs
Sharing costs
Partnership 2
Total 3
Major salaried:
Employed by one or more independent physicians not in private group practice
Employed by physicians in private group
practice
Industrial service. _ _ _ _ _ _
N on- Federal hospital
Federal civilian hospital
Nonprofit organization *
State or local gov't. (excl. hospitals)
Federal civilian agency (excl. hospitals)
Total 3
AH physicians 3 _
_.
Mean
net
income
Median
net
income
In each
detailed
category
Within
major
categories
55.8
10.9
11.0
71.8
14.0
14.2
$10, 895
10, 614
12, 340
17, 722
$8, 827
8, 569
10, 383
15, 428
77.7
100.0
11, 858
9, 668
2.3
10.2
7,045
6, 398
2.1
2.2
5.1
3.1
1.6
3.0
3.1
9.3
9.9
22.7
13.8
7.0
13.4
13.7
10, 024
9,370
9,327
8,144
9,066
6,495
7,679
8, 557
8, 558
7, 936
7, 832
7, 639
6, 698
7, 556
22.3
100.0
100.0
8,272
7,555
11, 058
8,835
12 Only 1.7 percent of the physicians failed to report on this item.
About 6.7 percent of all physicians are members of 2-partner firms, and 4.3 percent are
members of firms having 3 or more partners, or 11.0 percent of the physicians are members of
partnerships
of any size.
3
Detail will not necessarily add to total because of rounding.
4
Includes such groups as nonprofit foundations, cooperatives, trade unions, and medical
societies.
Source: U. S. Department of Commerce, Office of Business Economics.
Physicians who practice as members of a partnership earn
strikingly more than those who practice alone. In 1949,
the former had a mean net income of $17,722, as against
$10,895 for the latter. In terms of the median ($15,428
and $8,827, respectively), partners were in an even better
position.
is William Weinfeld, "Income of Lawyers, 1929-48," SURVEY OF CURRENT BUSINESS,
August 1949, table 7, p. 21.
William Weinfeld, ''Income of Dentists, 1929-48," SURVEY OF CURRENT BUSINESS, January
1950,
tabl<? 1, p. 8.
*7 Although this survey was not specifically designed to determine how many physicianssalaried as well as independent—there are in private group practice, some of its findings may
throw a helpful light on this increasingly important field.
Approximately 13.1 percent of the civilian physicians who reported indicated that they were
either independent physicians practicing in partnerships of two or more members or salaried
physicians in private group practice (table 4). Of these, 11 percent were independent, and
2.1 percent were salaried. If we assume that partnerships having three members is the minimum requirement for a group, then two-man partnerships (which embrace 6.7 percent of all
civilian physicians) do not qualify as groups. Accordingly, about 6.4 percent of the civilian
physicians in the country (4.3 percent independent, and 2.1 percent salaried) were in private
group practice in 1949.
Since the crude concept of a group that has been used here does not coincide with the con cepts used by the U. S. Public Health Service and the American Medical Association, it is
not possible to say whether their estimate of 2 percent (as the percentage of practicing physicians engaged in group practice in the United States in 1940—and also in 1946) may be validly
compared with the present estimate of 6 percent. But at least, the estimate of 6 percent is a
first approximation.
SURVEY OF CURRENT BUSINESS
14
As the size of a law firm increases, the income per member
tends to increase. Lawyers having eight or more partners
earn almost five times as much as solo practitioners.18 For
physicians the relationship is somewhat different. In 1949,
nonsalaried physicians in two-partner firms had per capita
net incomes roughly 50 percent larger than those who
practiced without partners; and three-partner physicians
had per capita incomes practically twice as large as those
of their colleagues in individual practice. But beyond this
point, an increase in the size of the firm had no noticeable
effect: income per partner remained virtually unchanged
even for physicians having eight or more partners. Indeed,
if anything, it seemed to decline very slightly. (See table 5.)
Table 5.—Average Net Income of Nonsalariecl Physicians by Size
of Partnership, 1949 *
Size of "firm" (number of
partners)
None 2 -_- _ - _
2
3
__
4
5 or more 3
-_
_-
Total 4
Percent of
physicians in
"firms" of
specified
size 3
Percent of
medical
net Median
net in"firms" of Mean
income
come
specified
size
Mean
gross
income
Net-togross
income
ratio
(percent)
86.3
8.3
2.5
1.0
1.9
94.0
4.5
.9
.3
.3
$10, 754
16, 697
20, 055
18, 193
19, 220
$8, 680
14.258
17, 286
16, 800
17, 068
$18,171
26, 555
32, 580
30, 760
34, 650
59.2
62.9
61. 6
59.1
55.5
100.0
100.0
11,744
9, 561
19,710
59.6
1
All incomes in this table are "per physician," not "per partnership."
2
These figures differ slightly from the corresponding figures of table 4 ("Without partners")
because one table is in terms of nonsalaried physicians and the other is in terms of major
independent.
s Approximately 0.5 percent of the nonsalaried physicians were in firms having 5 partners;
0.3 percent in firms of 6; 0.2 percent in firms of 7; 0.2 percent in firms of 8; and 0.7 percent in
firms of 9 or more.
The mean and median net incomes of nonsalaried physicians in firms having 5 partners
were $20,451. and $17,400, respectively; 6 partners, $19,750 and $16,875; 7 partners, $19,553 and
$18,000; 8 partners, $18,601 and $15,750; and 9 or more partners, $18,231 and $16,700.
The mean gross incomes were $38,952 for 5 partners; $38,944 for 6; $30,441 for 7; $32,628 for 8;
and
$31,596 for 9 or more.
4
About 0.9 percent of the nonsalaried physicians failed to report on size of firm. These were
excluded from the percentage base, but not from the average incomes shown on the total
line.
July 1951
Considering only independent practitioners, the proportion
of full specialists rose 75 percent—-from 23 to 40 percent—
about the same as for all physicians. General practitioners
dropped from 56 to 41 percent, a fall of 26 percent. Part
specialists declined by 13 percent.
As among dentists, there is more specialization among
salaried than among independent practitioners.20 In 1949,
65 percent of the salaried physicians were full specialists as
against 40 percent for independents. Only 13 percent of
the salaried physicians were G. P.'s, whereas 41 percent of
the independents were G. P.'s. (See table 6.)
Specialization and urbanization are highly correlated.
But the proportion of full specialists is not highest in the
largest metropolitan cities. Instead, for independent practitioners, the greatest proportion of specialists is found in
cities of between 100,000 and 1 million inhabitants, not in
cities of over a million. In 1949, cities of over a million had
about the same proportion of full specialists as mediumsized cities of 25,000-49,999.
It is interesting to note in table 6 the practically perfect
regularity with which the proportion of independent G. P.'s
drops as size of community increases, finally increasing for
the first time in cities of 1 million or more. In places of
under 1,000 population, 89' percent of the independent
physicians were in general practice, while in places of
500,000-999,999 only 26 percent of the independents were
G. P.'s; in cities of over a million 31 percent of the independents were G. P.'s. The picture for full specialists is
Table 6.—Percentage Distribution of Physicians by Degree of
Specialization, Class of Worker, and Size of Community, 1949
Major independent
Size of community
(population) i 2
Total Gen- Partly
number eral specialreport- prac- ized
ing
tice
Major salaried
Fully Total Gen- Partly
spe- number eral
cial report- pracing
ized
tice
Others
ized
Source: U. S. Department of Commerce, Office of Business Economics.
The highest mean net income reported by salaried physicians ($10,024) went to those employed by physicians in
private group practice. The second highest ($9,370) went
to physicians in industrial service—i. e., to physicians employed by insurance companies, pharmaceutical companies,
industrial firms, etc. Additional data are given in table 4.
Under 1,000 ..
1,000-2,499
2,500-4,999
5,000-9,999
10,000-24,999
1, 153
1,381
1,272
1,538
2,320
88.7
85.8
73.6
59.8
45.0
7.8
12.5
20.8
24.4
24.1
3.5
1.7
5.6
15.8
30.8
307
176
238
352
549
20. 8
39.2
25.2
18.8
14.8
7.5
11.4
12.2
11. 1
12.6
62 9
42.0
54 2
60.8
62.5
88
7.4
8 4
9.4
10.2
25,000-49,999.
50 000-99,999
100,000-249,999
250,000-499,999
500,000-999,999
1,000,000 and over
2,020
2,048
2,565
1,883
2,411
4,394
30.7
29 5
26.5
26.1
25 7
30.8
20.4
18 5
16.2
14.8
15.7
19.5
48.8
52 0
57.3
59.1
58 6
49.7
686
571
709
563
950
1,307
10.8
10 9
10.4
8.9
6 6
10.5
8.6
8 2
9.9
10.3
5.3
11.9
70.6
69 0
63.6
65.7
71 1
63.7
10.1
11 9
16.1
15.1
17 1
14.0
United States 4 -. 23, 070
41.3
18.2
40.5
6,455
12.6
9.7
64.8
13.0
Degree of specialization
In dentistry and law, specialization has always been quite
uncommon. Specialization in medicine, although a modern
phenomenon, was "an important factor
in professional incomes and in the costs of medical care77 even 20 years ago.19
Figures gathered on the subject by the AMA's American
Medical Directory, 1950, and the present study would
seem to indicate clearly that specialization has increased
significantly in the last two decades, but the two sources
differ somewhat as to the extent of the rise. (A full treatment of the differences is given in the Technical Notes.)
If we accept Leven's figures for 1929 and those of the present
survey for 1949 (both being unweighted as to degree of
specialization, and both the product of mail questionnaire
surveys), the following relationships emerge.
Considering all physicians, salaried as well as independent,
the proportion of full specialists rose from 26 percent in
1929 to 46 percent 20 years later—a striking increase of
74 percent. General practitioners, on the other hand, declined from 53 percent of all physicians to 38 percent, a
fall of 29 percent. Part specialists declined by 22 percent.
J
8 Weinfeld, loc. cit.
^Leven, op. cit, p. 50.
1
Returns were classified by size of place on the basis of preliminary 1950 Census data made
available to the National Income Division, through the courtesy of the Bureau of the Census,
prior
to publication.
2
Detail will not necessarily add to total because of rounding.
3
Administrative
personnel, for the most part.
4
85 physicians in independent practice did not report on size of community; 143 did not
report on degree of specialization. For salaried physicians, the corresponding figures are 47
and 210.
Source: U. S. Department of Commerce, Office of Business Economics.
the reverse of that for the G. P.'s—with minor variations.
Starting with fewer than 5 percent
of the independents in
places under 5,000 population,21 the proportion rises to a
peak of 59 percent in cities of 250,000-499,999, and then
drops to 50 in cities of over a million.
Part specialists earn more, on the average, than general
practitioners, and full specialists more than part specialists.
Moreover, the same general relationship held 20 years ago—
at least for independent practitioners—except that, relatively, the income gap between G. P.'s and full specialists
has narrowed appreciably since then.22 Among independent
20 Weinfeld, op. cit., table 5, p. 11.
21
Places under 1,000 inhabitants have a larger percentage of independent specialists than
places 1,000-2,499 (3.5 percent and 1.7 percent, respectively) perhaps because institutions are
often located in the open country. This is more striking, of course, for salaried physicians.
22 Leven, op. cit., table 5A, p. 109.
SURVEY OF CUREENT BUSINESS
Jnly
Tal>le 7.—Average Net Income of Physicians by Degree of Specialization, Class of Worker, and Size of Community, 1949
Major salaried
Major independent
GenFully
specialeral
practice ized
Fully
specialized
Partly
specialized
General
practice
Size of community *
(population)
2
Mean Median Mean Median Mean Median Mean Mean
net
net
net
. IUL
income income income income income income income income
Under 1,000
1 000-2 499
2,500-1,999
5,000-9,999
10,000-24,999
25,000-49,999
50 000-99 999
100,000-249,999
250 000-499 999
500,000-999,999
1,000,000 and over
United States...
$6, 596
8,481
10, 378
10, 586
9,874
$5, 455 $10, 525
7, 553 10, 102
9,205 13, 737
9,336 13, 275
8,673 14, 302
$8, 200 $12, 488
8. 615 11.885
12,477 13, 370
12, 185 13, 153
12, 871 13, 840
$9, 500
8, 000
11, 125
11,357
12, 443
$6, 203
6, 674
7,000
5,924
6,253
$7, 288
7,784
7, 957
9,617
9,324
9,414
9,466
8, 670
9, 537
8,478
7,231
7,770
7,900
6,991
8, 206
6, 639
5,857
13, 132
12, 589
11, 214
13, 245
10, 935
8,401
11, 633
10, 273
9, 441
11,000
9,217
6,694
14, 867
15, 514
15, 771
16, 608
15, 862
13, 670
13, 286
13, -461
13, 272
14, 210
13, 000
10, 647
6,635
6, 355
5,865
5.700
6,405
6,120
10, 028
9,287
8,937
8,250
9,097
8,346
8, 835
7,428
11, 758
9,902
15, 014
12, 599
6,281
8,884
1
Returns were classified by size of place on the basis of preliminary 1950 Census data.
2 The mean net incomes of the partly specialized (salaried) are as follows: $7,196 (under 1,000
population); 9,000; 7,017; 8,910; 7,254; 7,297; 7,160; 7,582; 6,259; 7,685; 6,255; and 7,135 (U. S.).
The mean net incomes of "other" physicians are as follows: $7,241 (under 1,000); 6,962; 6,450;
6,197; 8,411; 7,920; 7,779; 8,570; 8,600; 8,659; 9,068; and 8,351 (U. S.).
Source: U. S. Department of Commerce, Office of Business Economics.
practitioners, in 1949, the mean net income of full specialists
was $15,014, or 70 percent larger than the mean of $8,835
reported by general practitioners. (For dentists, in 1948,
the difference was very similar: 75 percent.) Part specialists reported a mean net income ($11,758)
about 33 percent
larger than that of general practitioners.23 (See table 7.)
Salaried physicians present a pattern that is similar to
that of independent physicians, but the income gap between
general practitioners and full specialists is much less marked,
and the average income received by each degree of specialization among salaried physicians is significantly lower than
for the corresponding category among independent practitioners. Thus, the mean net income of salaried full specialists in 1949 was $8,884, or 41 percent larger than the
mean of $6,281 for G. P.'s. Part specialists had a mean
($7,135) about 14 percent larger.
23 The figures on the net incomes of independent general practitioners, part specialists,
and full specialists ($9,541; $11,515; and $14,442, respectively) as reported by Medical Economics
for 1947 show a pattern very similar to that found in the present study. (William Alan
Richardson, "Physicians' Incomes", Medical Economics, October 1948, p. 66.) Indeed, the
correspondence is even closer than appears from the published figures, because Medical
Economics excluded all physicians over 65 years of age, and most of these would be G. P.'s
with low incomes.
15
In 1929 independent full specialists had a mean net income
($10,000) two and a half times larger than that of general
practitioners ($3,900). The medians ($7,500 and $2,900,
respectively) differed much the same as the means.24 By
1949, the income gap between independent G. P.'s and full
specialists had been halved.
Independent general practitioners earn their lowest mean
net incomes in communities with under 1,000 population,
then rise until they reach their peak (about $10,500) in
places of 2,500-9,999 inhabitants, and finally slowly decline
to $7,231 in cities of over a million (table 7). Independent
full specialists, on the other hand, reach their peak average
income ($16,608) in cities of 250,000-499,999, and then decline regularly to $13,670 in cities over a million.
Are the above-noted income differences between general
practitioners and full specialists really due to degree of
specialization or to other factors such as size of community
and age? Apparently, the former. However, as can be
seen from table 8, there are a few age-city size combinations
in which independent general practitioners actually seem to
make more money, on the average, than independent full
specialists. But these are confined primarily to physicians
under 35 years of age. Above 35, we find that regardless
of age or city size, full specialists clearly tend to earn higher
average incomes than general practitioners.
For all city sizes combined, the disparity between the
incomes of full specialists and G. P.'s, in 1949, increased
steadily as age increased until independent full specialists
65 years of age and over were earning two and one-half
times as much as G. P.'s in the same age group. The income
advantages of full specialists over G. P.'s seem to be largest
(almost twice as large) in cities having more than 100,000
population (as well as in places having under 1,000 inhabitants) and smallest in places of 1,000-24,999, but in no
community size does the full specialist fall behind the general
practitioner.
Field of specialization
Let us first consider all full specialists. In 1949, according
to the specialties reported to this survey,25 every sixth full
specialist was in internal medicine. The second largest
group was in general surgery, with pediatrics third, obstetrics
s* Leven, op. cit, table 5 A, p. 109. No similar data for 1929 are available for salaried physicians.
25
There is no exactly corresponding benchmark by which to compare the reported specialties, but the distribution under discussion agrees quite well with one based on table 4 of the
American Medical Directory, 1950 (pp. 12 and 13). The latter distribution apparently includes
interns, residents and fellows, physicians in the armed forces, and medical school personnel—
all of whom were excluded from the present study.
Table 8.—Mean Net Income of Physicians in General Practice and Fully Specialized Whose Major Source of Medical Income Was From
Independent Practice, by Age Group and Size of Community, 1949
General practice 2
Age group (years)
Size of community 1 (population)
All
ages
Under 1,000
1,000-2,499
2,500-4,999
5,000-9,999
10,000-24,999
._
25,000-49,999
50 000-99,999
100,000—249,999
250.000-499,999
500,000—999,999
1,000,000 and over
United States 3. . .
1
2
Fully specialized
Under
35
Age group (years)
All
ages
Under
35
65 and
over
50-54
55-59
60-64
$8, 098 $10, 587 $10, 453
8,790 11, 742 11,457
10, 586 12, 290 13, 531
9,687 13,112 13, 869
9,177 11, 903 13, 043
$8, 030
10, 799
13, 022
13, 968
11, 164
$7, 870
10, 454
13, 184
11, 462
10, 014
$6, 250
8,279
7,167
9,036
9,587
$5, 264
6,677
6,415
8,843
7,100
9,383
13, 332
15, 380
17, 397
14, 643
14, 968
10, 871
10, 516
9,414
9,466
8,670
9,537
8,478
7,231
8,596
8,929
9,725
10, 324
8,656
6,649
11, 338
11, 260
10, 719
11,384
11, 206
7,912
12, 403
12, 388
11, 128
12, 828
12, 212
8,834
11, 039
13,050
10, 030
13, 489
10, 219
9, 963
10, 342
11, 399
11, 125
9,764
10, 453
7,767
9,250
9,818
8,364
9,812
7,706
6,960
8,177
6,900
6,194
8,540
5,064
4, 618
3,996
4,555
3,475
3,732
3,124
3,282
14, 867
15, 514
15, 771
16, 608
15, 862
13, 670
9,543
9,578
10, 227
10, 424
9,204
7,480
14, 853
14, 709
15, 148
14, 581
13, 672
11, 496
17, 462
17, 344
18, 790
19, 036
16, 881
14, 514
18, 875
20, 176
18, 006
19, 706
19, 747
16, 203
17, 282
18, 605
17,411
20, 036
19, 155
16, 166
15, 326
16, 704
18, 968
18, 039
18, 619
18, 775
13, 326
14, 568
14, 299
17, 651
17, 965
11, 432
5,896
7,437
8, 456
10, 717
11,810
9,426
8,835
9,054
11, 191
11, 758
11, 195
10, 043
8,205
6,337
3,616
15, 014
9,203
13, 838
16, 885
18, 125
17, 550
17, 863
13, 924
9,383
$6, 596
8,481
10, 378
10, 586
9,874
40-44
Returns were classified by size of place on the basis of preliminary 1950 Census data.
Data for general practitioners in communities under 10,000 population are as follows:
all ages, $8,920; under 35 years, $9,298; 35-39, $12,007; 40-44, $12, 424; 45-49, $11,614; 50-54, $10,852;
55-59, $7,779; 60-64, $6,584; 65 years and over, $3,404.
65 and
over
45-49
35-39
$2, 954
3,231
4,089 >$13, 043
4,124
4,667 13, 840
35-39
40-44
45-49
50-54
55-59
60-64
$7, 025 $13, 418 $15, 807 $13, 858 $14, 787 $15, 535 $11, 162
$8, 705
3
Total number reporting in U. S. by age groups: general practice—9,527 (all ages); 1,644;
1,486; 1,350; 992; 747; 605; 539; 1,758; (65 and over); 406 (unknown); fully specialized—9,354
(all ages); 1,064; 1,914; 1,763; 1,320; 975; 758; 499; 690; 371 (unknown).
Source: U. S. Department of Commerce, Office of Business Economics.
SUEVEY OF CURRENT BUSINESS
16
and gynecology fourth, and psychiatry fifth. (See table 9
for further detail.)
The distribution of full specialties among independent
full specialists is roughly similar to that for all full specialists.
For salaried full specialists, on the other hand, the situation
is quite different. Internal medicine represents the most
numerous specialty among salaried physicians, as among
independents. But the second most important group is
psychiatry. Public health-preventive medicine ranks third,
surgery fourth, and pathology fifth. (See table 9 for further
specialties.)
In most fields of specialization, independent practitioners
outnumber the salaried by a considerable number, just as
they do among general practitioners. However, in public
health-preventive medicine, tuberculosis, pathology, industrial practice, neurology, and psychiatry, salaried physicians
arc far more common than their independent colleagues.
The very highest incomes among independent full specialists are earned in specialties having very few members,
although smallness of membership in a given specialty seems
to be no assurance of a high income. Thus, we find that
some of the lowest average incomes occur in the smallest
specialties—such as plastic surgery and allergy. The lowest
average incomes on which reliable data are available are
pediatrics (mean, $12,016; median, $10,695)—the third
largest independent full specialty—and internal medicine
(mean, $12,637; median, $10,944)—the largest independent
July 1951
full specialty. On the other hand, anesthesia—a mediumsized specialty—also yielded a low income (mean, $12,783;
median, $12,115).2^ (See table 9.)
Among full specialists in independent practice in 1949, the
fields in which the largest incomes were made are the following::
Full specialists in independent practice
1.
2.
3.
4.
5.
Median
age
(years')
Neurological surgery
Pathology
___"____
Gynecology
Orthopedic surgery
Roentgenology-radiology
42
49
53
43
45
6. Surgery (general)
7. Obstetrics and gynecology
8. Neurology and psychiatry
_"
9. Urology
10. Cardiology
Mean
Mediannet
income
net
income
$28,
22,
19,
18,
628 $24,
284 20,
283 13,
809 15,
Percent of all fall
specialists who are
in given field
500
167
500
063
0. 8
.5
.7
3. 4
18, 540
16, 550
3. 7
45
17, 765
15, 389
13. 9
43
17, 102
14, 288
9. 7
45
45
51
16, 476
16, 370
15, 589
13, 375
13, 321
13, 375
2. 1
3. 8
.9
Among salaried full specialists in 1949, the fields in which
the largest incomes were made differ strikingly from those
26
Most of the independent full specialties for which Medical Economics provides data (for
1947)
agree quite well with the findings of the present survey (for 1949). The principal
exception is orthopedic surgery, for which the published mean is $11,945. See: Richardson,
op. cit., October 1948, p. 67. Leven and Leland also give quite different figures for orthopedic
surgery in 1928 (1929). See Leven, op. cit., pp. 115 and 116.
Table 9.—Average Net Income of Partly and Fully Specialized Physicians by Class of Worker and Field of Specialization, 1949
Partly Fully
special- specialized
ized
Field of specialization
(listed alphabetically)
Number
Number
Number
Mean Median
net
net
income income
___ _ . _
-
Neurological surgery
Neurology
Neurology and psychiatry
Obstetrics
Obstetrics and gynecology
Pediatrics
Physical medicine
Plastic surgery
Proctology
Psychiatry
_ _
_
_ _
Urology
Other
Multiple specialties
10, 000
(2)
.9
.2
17
27
15, 589
(2)
1.5
.6
1.6
2.4
21.1
3.1
.3
.5
1.1
16.7
1.5
.6
1.6
1.7
20.3
6,547
(2)
8,727
12, 292
9, 634
5,750
(2)
7,500
11, 500
8,272
3.6
.3
.7
.3
17.0
11
24
21
25
1
15,215
(2)
19, 283
(2)
12, 637
(22)
()
_ _ _ _ _
United States 4
1
2
3
. _ _
1.5
.7
47
42
1.8
.5
1.2
7.6
25.8
2.1
.4
0)
3.0
16.1
2.7
1.5
5.4
.7
.6
6.1
.1
1.8
8,463
(2)
(2(2)
^
21
53
(2)
6,346
(2)
(2)
10, 271
8,161
(2)
2
(2)
(2)
(2)
( )
(2)
(2)
6,000
C22)
()
9,115
7,599
6
7,158
11
19
5
18
2
45
52
43
49
49
1.2
.8
1.8
.7
1.2
1.7
1.3
2.2
1.6
7.4
7,148
10, 644
9,580
8,489
11, 745
6,688
8,500
7,214
8,313
10, 957
3
28.5
23
16
9
12, 016
(2)
13, 202
14, 599
14, 374
23
(2)
20
15
16
10, 695
(2)
10, 000
11,500
12, 967
22
(2)
23
20
14
42
(2)
42
48
43
4.5
.8
4.4
.9
.1
.3
13.0
6,196
8,500
(22)
()
8,137
5,722
8,500
(22)
()
7,761
C1)
3.7
13.9
.3
.1
32
10
2
26
30
(2)
18, 540
17, 765
(2)
(2)
(2)
16, 550
15, 389
(22)
()
(2)
3
4
(2)
(2)
(2)
(2)
(2)
2.7
8.0
6.3
7.8
.2
4.7
8,193
12, 326
9,283
(2)
7,376
7,747
10, 412
7,694
(2)
7,267
4,667
(2)
11, 767
3.8
0)
3.0
8
31
13
16, 370
(2)
15, 182
13, 321
(2)
13, 289
12
45
2.5
.3
5.5
1.7
.3
2.9
9,218
(2)
10, 742
8,800
C2)
9,188
9,902
100.0
44
100.0
100.0
8,884
7,953
1.5
2.0
.9
1.3
.2
6,594
6.291
(2)
8,035
(2)
5,125
4,500
(2)
6, 500
(2)
6.1
6.7
3.4
4.2
.5
6
5
12
7
22
8.2
.4
.3
.8
6.6
4.3
.5
.1
1.4
.9
9,456
(22)
()
8,701
(2)
7,545
(2)
(2)
6,600
(2)
9.8
.1
.5
1.1
3.7
.1
1.5
32.3
.1
.6
(2)
.9
2.5
4.5
12.0
.2
1.5
12, 377
15, 241
(2)
(2)
(2)
10, 900
13,071
(22 )
()
1.4
.1
6.3
3.1
.1
3.0
1.3
.1
6.5
7,450
(2)
13, 838
100.0
100.0
100.0
11, 758
Less than 0.05 per cent.
Too few cases in sample to yield reliable results.
Mean and median net income columns are not shown for partly specialized salaried physicians because only three specialties had sufficient returns to yield reliable results. These
were industrial practice (mean, $9,478; median, $8,389), internal medicine (mean, $7,201;
median, $6,714), and surgery (mean, $7,952; median, $6,778). For the country as a whole,
partly
specialized salaried physicians had a mean of $7,135, and a median of $6,693.
4
Approximately 5.1 percent of the partly specialized and 2.0 percent of the fully specialized,
among independent physicians; and 4.5 percent of the partly specialized and 2.2 percent of the
(2)
10, 944
51
(2)
(2)
$9, 250
13, 323
11,580
15, 063
11, 652
20, 167
4.7
5.0
3.0
3.4
2.6
0)
16
(2)
0.2
(2)
2.9 $10, 034
.2
(2)
.5
(2)
.5
(2)
14
18
4
19
2
28, 628
(2)
16, 476
15, 004
17, 102
.5
1.4
29.9
22
12, 125
13,500
0.8
1.8
14, 645
13, 461
18, 809
13, 257
22, 284
11, 728
12, 470
19
28.5
14
20
4
4.4
5
(2)
9.5
(2)
43
41
Mean Median Median
net
net
age
income income (years)
(22)
()
8,103
(2)
6,563
.8
.1
2.1
.7
9.7
15
1.8
1.0
1.2
.3
11
(2)
3
Percent Percent
15
17
13, 375
(2)
Number
42
(2)
45
43
43
(2)
(22)
()
11,000
10, 870
0)
(2)
10
Number
13,375
14, 000
14, 288
(2)
.7
.3
3.3
.5
7.3
Median
age
(years)
Fully specialized
8
13
7
.1
.5
4.2
8.0
.7
3.9
7.7
17 $12, 333
21 12, 115
$13, 510
12, 783
10, 829
(2)
1.4
1.7
Public health-preventive medicine
Roentgenology-radiology
_ _ _ _ _ _
Surgery
Thoracic surgery
Tuberculosis
18
15
2.1
.1
0)
_____
0.8
2.0
2.0
.2
.1
Median net
income
Percent Rank Dollars Rank Dollars Rank
1.3
2.6
0)
Ophthalmology
O phthalmology-otolaryngology
Orthopedic surgery
Otolaryngology _ _ _ _ _ _ _ _ _ _ _ _
Pathology
__ __
$7, 875
10, 143
Mean net
income
0.6
2.3
1
.8
.3
1.3
2.5
Dermatology-syphilology
Gastroenterology
Gynecology
Industrial practice
Internal medicine
$9, 382
10, 752
Number
Major salaried
i Partly
i specialized 3
Fully specialized
Partly specialized
Percent Percent Percent
Allergy
Anesthesia
Bacteriology
Cardiology
Clinical pathology
l
Major independent
All physicians
(2)
15,014
(2)
(2)
1 24, 500
5
6
C2)
9
(2)
12
(2)
12, 599
1
(2)
9.5
(2)
13
45
45
45
(2)
1.0
6.9
3.4
1.2
14.1
(2)
(2)
(2)
(2)
(2)
37
39
44
37
(22)
( )
o 44
(2)
35
36
45
37
38
41
36
49
(2)
(2)
43
44
40
37
<\
(2)
38
42
40
fully specialized, among salaried physicians, failed to report their field of specialization.
These cases were excluded from the percentage base, but not from the average incomes shown
on the total line.
The number of usable returns in each of the categories is as follows: major independent—
partly specialized, 3,976—fully specialized, 9,166; major salaried—partly specialized, 596—
fully specialized, 4,091.
Detail will not necessarily add to total because of rounding.
Source: U.S. Department of Commerce, Office of Business Economics
ruiy 1951
SURVEY OF CURRENT BUSINESS
17
MEAN NET INCOME OF ALL PHYSICIANS (INDEPENDENT
AND SALARIED) FROM MEDICAL WORK, 1949
$9,395
$8,677
$10,442
$9,690
$10,125
$11,253
$10,846 D.C.E22
$12,000 AND OVER
$11,000 TO $11,999
$10,000 TO $10,999
\£fM UNDER SIO,OOO
UNITED STATES
$11,058
U. S. DEPARTMENT OF COMMERCE, OFFICE OF BUSINESS ECONOMICS
in which independent specialists received their top incomes:
Percent of all
full specialists
who are in given
field
T»„_„„,*•,.* ~f ~77
Salaried full specialists
1. Roentgenology-radiology
2. Pathology
3. Multiple specialties
4. Ophthalmology-otolaryngology
^
5. Industrial practice
6.
7.
8.
9.
10.
Anesthesia
Orthopedic surgery
Surgery (general)
Urology
Physical medicine
Median
age
(years)
40
41
42
Mean
net
income
Median
net
income
$12, 326 $10, 412
11, 745 10, 957
10, 742
9, 188
6.3
7.4
2.9
45
44
10, 644
10, 271
8,500
9, 115
1.3
3.0
37
37
37
38
49
10, 034
9,580
9,283
9,218
8,500
9,250
7,214
7,694
8,800
8,500
2.9
2. 2
7.8
1.7
.9
Perhaps the most striking aspect of the average income of
independent vs. salaried full specialists is the great differences
found between the two groups for the same specialty. Part
of this difference is clearly due to the fact that in any given
specialty, the independent practitioners tend to be several
years older than their salaried colleagues. But, again, as in
the case of degree of specialization, the age differentials are
seldom large enough to account for the entire income differentials.
In psychiatry, for example, independent and salaried full
specialists average 43 years of age, but the former has a
mean net income of $14,374, and the latter, $8,137. In
neurology and psychiatry the average ages are 45 and 44 for
independent and salaried, respectively; the mean net incomes
are $16,476 and $8,463, respectively.
953914—51
3
51-155
Geographic location
*-*^
•*•
It has sometimes been questioned whether observed
regional income differences are not merely reflections of
city-size differences among the various regions. That such
is apparently not the case, at least for physicians, can be
seen from an examination of table 10, covering the year 1949.27
For example, in any given city size, instead of finding
that average income is practically the same in every region,
we find that it shows a wide range of variation. Nor is this
variation a haphazard one from one city size to another.
The various regions do not have the same rank in each citysize group, it is true, but the uniformity is nevertheless
quite striking. Thus, in terms of the mean, the Far West
ranks first in 7 of the region's 11 city sizes (as well as first in
the Nation). New England, on the other hand, ranks last
in 8 of the region's 9 city sizes (as well as last in the Nation).
Likewise, Southwest (which ranks second for the country
as a whole) is above average in 8 of the region's 10 city
sizes, and Middle East (which is sixth in the Nation) is
approximately sixth in 9 of the region's 11 city sizes.
There can be little doubt, then, that real regional income
differences existed in 1949 among physicians. Secondly,
the existing regional income differences were often quite
striking. Thirdly, the regions that ranked high with respect
27
Using ingenious and elaborate statistical techniques on data covering the period 1932-36
Friedman and Kuznets also conclude that "* * * for physicians * * * region, by
itself, has a real influence on income level." See: Milton Friedman and Simon Kuznets,
Income from Independent Professional Practice, National Bureau of Economic Research,
New York, 1945, p. 225. Also see: Edward F. Denison, op. cit., Part 6, pp. 17 and 18.
SURVEY OF CURRENT BUSINESS
18
to the income of independent physicians did not necessarily
rank high for salaried physicians. A summary of the principal statistics (abstracted from table 12) illustrate the last
two points in graphic fashion:
Mean net income and rank order
Region
All physicians
Far West
Southwest
Central
Northwest
Southeast
Middle East
New England
United States
$12, 827
12,228
12,012
11,257
11,159
9, 772
9, 442
11,058
Independent phy- Salaried ph
sicians
sicians
Excess of independent over
salaried average income
(percent}
1 $14, 368 1 $7, 807
13, 243 2 8, 604
2
3 12, 775 3 9, 115
12, 313 4 7,808
4
12, 157 5 7,616
5
6
10, 270 6 8, 026
9, 740 7 8, 605
7
8,272
11,858
84.0
53. 9
40. 2
57. 7
59. 6
28.0
13. 2
43. 4
July 1951
for the most part hovered slightly below the national average.
Readers who see table 10, 11, or 12 for the first time are
perhaps most surprised to find that independent physicians
in the New England and Middle East States not only have
the lowest average incomes in the country, but are substantially lower than Southeast—not to mention Northwest
and Central.
The superficial justification for this "intuitive" reaction
becomes clear if we make a simple comparison of the rank
orders of the mean net income from medical work and the
per capita income of the general population. (See table 11.)
Table 11.—Rank Order of Per Capita Income of General Population
and Mean Net Income of Physicians by Region, 1941 and 1949
1941
For example, in 1949 the mean net income of independent
physicians in the Far West (the top region), was almost 50
percent higher than that for New England (the lowest
region). Among salaried physicians, on the other hand, the
regional income differences were much less pronounced.
Although Far West boasted the highest mean net income for
independent physicians, it had next to the lowest salaried
income, the former exceeding the latter by 84 percent.
Table 10.—Mean Net Income of Nonsalaried Physicians by Region
and Size of Community, 1949 l
Region 3
Size of community 2
(population)
All
regions
New
England
Middle South- Southwest
East
east
$5, 093
6,049
6, 854
9, 143
8,655
$7, 848
8,269
10, 150
10, 048
10, 485
$5, 891
7, 735
10, 385
11,455
12, 430
11,431
10, 421
11,116
10, 176
13. 509
9,157
10, 130
Under 1,000
1,000-2,499
2 500-4,999
5,000-9,999
10,000-24,999 _
$7, 029
8,775
11, 297
11, 581
12, 282
25,000-49,999
50 000-99,999
100,000-249,999
250.000-499,999
500,000-999.999
1,000,000 and over
9.525
12, 903
9, 572
12, 991
13, 083 10. 873
14, 368
12. 877 ~I6.~364~
10, 287
United States... 11, 744
9,602
Far
Central
Northwest
West
$4, 570
9,025
12, 601
12, 490
12, 934
$7, 540
9,135
11, 928
12,331
13, 362
$7,410
10, 081
12. 628
14, 183
13, 990
$8. 081
11, 770
15. 576
14, 367
14, 045
12, 136
13, 134
14, 632
16.110
13, 003
13, 134
17,322
14. 276
15, 746
12, 774
14, 738
14, 952
14, 268
14, 361
13, 209
12, 002
13,011
13, 280
13, 338
12, 557
15, 852
15, 707
14, 056
15,433
12, 728
13, 258
11, 958
13, 179
12, 631
12, 305
14, 235
1
These figures differ slightly, for the most part, from those of table 12, because one table is
in 2terms of nonsalaried physicians and the other, major independent,.
Returns
were classified by size of place on the basis of preliminary 1950 Census data.
3
See table 12 for the States included in each region.
Source: U. S. Department of Commerce, Office of Business Economics.
Minnesota (with $13,175) had the highest mean net income
of any State, considering all physicians. In terms of the
median (perhaps more significant in such a comparison),
Michigan (with $10,777) led all the rest. The State of
Washington (mean, $13,041; median, $10,714) was second
in terms of both measures, for all physicians. (See table 12
for further details.)
Considering only independent physicians, Arizona had
both the largest mean and median net incomes ($15,599
and $13,125, respectively); it also had the largest average
gross income (table 12). Washington State had the second
largest ($14,480) mean net income, and Wyoming (with
$13,000) had the second largest median net income. Such
important States as New York, New Jersey, Pennsylvania,
and Massachusetts, all having per capita incomes well above
the average for the country, had average independent physicians' incomes markedly below those for the country as a
whole.
For salaried physicians alone, Minnesota ranked first,
both in terms of mean and median net incomes ($11,632
and $8,929, respectively). North Dakota (with $10,448)
had the second highest mean salary, and Michigan (with
$8,672), the second highest median. New York, New Jersey, Pennsylvania, and Massachusetts all made better
showings for salaried than for independent physicians, but
Region *
New England
_ _
Middle East
Southeast
_ _
Southwest
Central
_
Northwest _ _ _ _ - _ - . _ _
Far West
Per capita
i income of
general
.population 2
!
__
25
°5
7
f>
4
5
1
1949
Mean net Per capita
income of income of
nonsalaried3 general 4
physicians population
6
~
2
3
4
}
Mean net
income of
nonsalaried
physicians '
_
4
~
6
3
5
1
o
3
4
1
1 See table 12 for the States included in each region.
2
For source, see table 12.
34 Denison and Slater, op. cit., table 5, p. 18. The rank for Southwest was estimated.
For
source, sec table 12.
5
Source: table 10. Note that the ranks for major independent physicians are the same as
for nonsalaried.
Source: U. S. Department of Commerce, Office of Business Economics.
When this is done, we see that, in 1949, although New England ranked fourth in per capita income, it ranked seventh
in medical income. Likewise, Middle East, though ranking
second in per capita income is next to the bottom as regards
medical income. On the other hand, Southwest, which is
next to last on per capita income, has the second highest
medical income. And Southeast, at the bottom of the per
capita pyramid in seventh place (well below sixth place
Southwest), is a strong fifth on medical income. Only Far
West, Central, and Northwest show a close correspondence
between per capita and medical income ranks. (In 1941
the situation was quite similar.)
Apparently, then, we "intuitively" expect the high income
regions to yield the highest average physicians' incomes—
and likewise for States. But they don't. Instead, we find
that some States which have high per capita incomes also
have high physicians' incomes (e. g., California, Nevada,
Arizona); while others have high per capita incomes but low
physicians' incomes—or vice versa (e. g., District of Columbia, New York, Louisiana, Alabama); and some are low
on both per capita and physicians' incomes
(e. g., Arkansas,
Maine, Mississippi, and South Carolina).28 (See table 12.)
When using the State as an analytical unit for studying
the factors affecting physicians' incomes, it is important to
keep in mind that the State is a political entity, but seldom
an entirely satisfactory analytical one. Heterogeneity rather
than homogeneity is the quality that best characterizes
most States. When we assign a mean net physicians' income, or a general population per capita income, or a physician-poulation ratio, or a per capita personal consumption
expenditure to a given State, we are masking real—and often
very large—differences that exist between the rural communities, middle-sized cities, and large metropolises of the State.
Whenever we can refine our analyses by using size of community and region simultaneously or even size of community
alone, we prefer these analytical units to States—even
though the per capita income or physician-population estimates be cruder than those available by States.
28
The lack of correlation between per capita and independent physicians' incomes is confirmed by a rank order correlation of +0.15.
SURVEY OF CURRENT BUSINESS
July 1951
A better understanding of the relationship between the size
of physicians' incomes and the locational factors that influence them would probably be obtained by studying size of
community and specific city differences (within regions, if
possible), rather than State differences—and this is done in
later sections of this article.
19
As has already been noted, neither physician-population
ratios nor per capita income of the general population should
properly be analyzed in terms of such a heterogeneous unit as
a State. Nevertheless, it is indeed significant that even in
terms of such a crude diagnostic unit, the correlation between
these two indexes is so high. Clearly, the States with the
Table 12.—Average Income of Physicians by Major Source of Medical Income and by Region and State, 1949
Region and State 1
Average
gross
net income of
income Average
all physicians in civilof nonian
practice
salaried
physicians
Mean
Average net income of physicians in civilian practice with
major source of medical income
from—
Independent
practice
Salaried
practice
Civilian population 3
Median Mean Median Mean Median
Mean
Dollars
Dollars
Dollars
Dollars
Dollars
Number
(thousands)
Dollars
Dollars
New England
Connecticut
Maine
Massachusetts
New Hampshire
Rhode Island
Vermont
15, 373
17, 392
13, 813
15, 041
15,915
14, 964
12, 713
9,442
10, 442
8,419
9,395
9,756
8,677
7,527
$141
326
369
199
547
424
506
7,881
8,660
7,738
7, 583
8, 452
7, 292
6,533
9,740
11, 130
8, 423
9,655
9,589
9,262
7,661
8,061
8,968
7,821
7,637
8,474
7,889
6,545
8,605
8, 659
8, 40C
8, 712
10, 186
6,756
6, 750
7,597
8, 062
7, 571
7, 513
8, 250
6,357
6,500
9, 313
2, 001
901
4, 749
519
Middle East
Delaware
Dist. of Columbia-.
Maryland
New Jersey
New York
Pennsylvania
West Virginia _ __
16, 737
17, 202
21,225
22, 493
16, 595
15, 796
16, 500
20, 768
9,772
10, 125
10, 846
11, 253
9,690
9,310
10, 047
11, 114
79
766
328
336
194
113
172
418
8,023
8,714
9, 486
8,889
8, 154
7,619
8,106
9,474
10, 270
11, 201
12, 869
12, 694
9,995
9,726
10, 466
12, 119
8,263
10, 000
11, 286
10, 405
8,431
7,701
8,326
10, 357
8,026
7, 650
8, 592
7, 712
8, 078
7, 799
8, 391
8,150
7,562
7,571
8, 500
7. <U3
7 225
7', 451
7,311
7, 778
Southeast
Alabama
Arkansas _ _ _
Florida
Georgia
Kentucky
Louisiana
__ . _
Mississippi
North Carolina
South Carolina
Tennessee
Virginia _ _ _ _ _ _ _ _
20, 185
23, 582
17,704
20, 768
19, 455
18, 665
22, 480
17, 327
19, 419
18, 352
23, 102
19, 992
11,159
12, 172
8,631
11, 148
11, 259
10, 744
12, 236
9,595
10, 920
10, 637
11,985
11,713
125
461
472
365
394
391
440
463
328
480
446
356
8,766
9,800
7,184
8,800
8,893
8,674
9,480
7,586
8,526
8, 405
9, 297
9,160
12, 157
13, 463
8,895
12, 002
12, 231
11, 782
13, 956
10, 111
11, 765
11,011
13, 539
12, 941
9,855
11, 500
7,045
9,816
9,750
9,725
11, 667
7,731
9,500
8, 833
10, 813
10, 632
7,616
7, 869
7, 707
7,187
7,423
6, 354
7, 921
7,861
7, 860
8, 055
7,881
7, 658
Southwest
Arizona
New Mexico. _
Oklahoma
Texas
23, 272
27, 685
22, 058
20, 239
23, 853
12,228
12, 791
10, 744
11, 286
12, 542
208
742
754
442
259
10, 127
10, 333
8,917
9, 556
10, 266
13, 243
15, 599
11,732
11,772
13, 518
11,402
13, 125
10, 250
10, 571
11, 540
20, 724
20, 105
19, 781
21, 285
22, 100
23, 592
18, 761
20, 760
_ _ _ 21, 588
12, 012
11, 469
11,486
12,337
12,857
13, 175
11,241
12, 315
11,892
99
201
289
434
277
377
307
213
344
9,929
9,136
9,671
9,795
10, 777
10, 661
8, 930
10, 293
9,727
12,775
12, 284
11, 908
12, 991
13, 860
13, 953
11, 923
13, 076
12, 938
Central
Illinois
Indiana
Iowa
Michigan
Minnesota
Missouri
Ohio
Wisconsin
Per capita
personal consumption expenditures for
physicians'
services 4
1S.E.2
Dollars
Rank
NonPercentage distribution of 7—
Federal
physiPercent of
Physicians with
Per capita income spent cians
major source of
by individuals per
income of
medical income
100, 000
general
for physifrom—
civilian
population 5
cians'
popu- Civilservices
All
lation
ian
physi(esti- popucians
mate) 6 lation
Independent Salaried
pracpracNumDol- Rank Per- Rank
tice
tice
ber
cent
lars
366
13.82
14. 24
10. 49
14.80
12. 54
12.08
12. 55
6
23
44
20
34
36
33
1,395
1,591
1,087
1,417
1,195
1,403
1,075
4
7
35
14
31
16
36
0.99
.90
.97
1.04
1.05
.86
1.17
7
44
42
39
37
47
25
151
152
96
170
126
118
140
6.31
1.36
.61
3.22
.35
.53
.25
7.71
1.59
.55
4.33
.42
.56
.27
7.3
1.5
.6
4.0
.4
.6
9.1
2.0
.5
5.3
.5
.6
.2
35, 221
318
809
2, 305
4,740
14,717
10, 395
1, 937
17.11
12. 97
26.09
17.74
16. 27
19. 53
14.20
12. 48
2
29
1
8
14
4
24
35
1,565
1,675
1,820
1,401
1, 546
1, 758
1,416
998
2
4
1
17
8
2
15
41
1.09
.77
1.43
1.27
1.05
1.11
1.00
1.25
5
49
3
18
35
32
41
19
158
126
267
136
128
196
128
84
23.88
.22
.55
1.56
3.21
9.98
7.05
1.31
30.93
.22
1.23
1.75
3.85
15.41
7.42
1.06
31.0
.2
.8
1.6
4.2
15. 6
7.6
1.0
30.7
.3
2.6
2.3
2.7
14.9
6.7
1.2
7,333
7, 357
7, 375
7, 275
7, 467
5, 500
7, 357
7, 469
7, 458
6,889
7, 737
7,300
30, 626
2, 996
1,825
2, 636
3,316
2,832
2, 621
2,067
3,889
1,981
3, 256
3,207
11.59
11. 11
10. 08
15. 45
1 1. 52
11.86
11. 99
8.95
10. 33
10.31
12.06
12. 81
7
42
47
17
41
40
38
49
45
46
37
30
882
773
778
1,102
876
865
1,002
634
854
787
873
1,039
7
48
47
34
42
44
40
49
45
46
43
38
1.31
1.44
1.30
1.40
1.32
1.37
1.20
1.41
1.21
1.31
1.38
1.23
1
2
14
5
12
9
23
4
22
13
7
21
83
68
82
91
84
84
104
64
80
69
90
91
20.76
2.03
1.24
1.79
2.25
1.92
1.78
1.40
2.64
1.34
2.21
2.17
14.78
1.22
.87
1.57
1.56
1.44
1.34
.89
1.76
.85
1.56
1.73
14.8
1.2
.9
1.7
1.6
1.5
1.2
.9
1.8
1.0
1.5
1.7
14.6
1.3
,9
1.2
1.4
1.2
1.7
.9
1.7
.5
1.9
1.8
8,604
6, 755
9, 068
9, 408
8,646
7,545
6, 950
8, 375
7,444
7,629
11,005
719
621
2,111
7, 554
15.29
17. 95
9.87
14. 94
15. 58
4
5
48
19
16
1,166
1, 165
1, 033
1,068
1,205
6
33
39
37
29
1.31
1.54
.96
1.40
1.29
2
1
43
6
15
94
97
73
94
95
7.46
.49
.42
1.43
5.12
6.28
.50
.30
1.24
4.24
6.3
.4
2
l'.3
4.4
6.2
.7
.5
1.1
3.8
10, 743
10, 122
10, 323
10, 706
12, 244
11, 700
9,881
10, 994
10, 804
9,115
8, 750
9,279
7,934
9,914
11,632
7, 806
8, 333
8, 671
7,879
7, 695
7,900
7, 050
8,672
8, 929
7, 115
7, 500
7,854
39, 421
8,585
3,893
2,550
6,263
2, 915
3, 905
7, 986
3, 324
15.45
17.84
14. 55
17. 29
12.81
13.17
15. 11
16. 49
13. 82
3
7
22
10
31
27
18
13
25
1,414
1,618
1,290
1, 2U2
1,443
1,227
1,286
1,436
1,329
3
6
23
22
12
25
24
13
20
1.09
1.10
1.13
1.34
.819
1.07
1.17
1.15
1.04
6
33
29
11
45
34
24
27
40
118
140
103
105
106
132
120
116
104
26.72
5.82
2.64
1.73
4.25
1.98
2.65
5.41
2.25
24.88
6.44
2.31
1.58
3.33
1.70
2.44
5.05
2.03
25.3
6.4
2.5
1.8
3.2
1.5
2.6
5.5
2.0
23,3
6.7
1.7
.9
3.8
2.6
1.8
3.6
2.2
Northwest
Colorado
Idaho
Kansas _ ___ .
Montana
Nebraska
North Dakota
South Dakota
Utah
Wyoming
19 029
23, 469
20, 927
23, 237
19 427
20, 627
22, 342
18, 744
23, 727
11,257
10, 318
12, 874
11,039
11,810
11,361
12, 262
12, 351
10, 806
11, 239
206
362
813
426
889
512
887
816
909
1,021
8,995
8, 571
10, 375
8,827
10, 091
8,667
9, 300
9,722
9,071
9,333
12,313
11,115
13, 867
12,225
13, 184
12, 382
13, 000
14, 049
11,417
13, 267
10, 632
10, 000
12, 500
10, 750
11,000
10, 643
9,875
11,667
9,571
13, 000
7,808
7,684
6, 500
7,812
8,719
6, 256
10, 448
7, 460
8, 460
7,438
7, 283
7, 273
7, 000
7,382
8, 000
6, 625
8, 000
7, 100
7, 500
7, 333
7,622
1,232
570
1, 837
558
1, 281
583
615
675
271
14.77
17.68
15.63
13. 53
14. 58
17.85
10. 52
13. 12
12,75
11.91
5
9
15
26
21
6
43
28
32
39
1, 273
1, 386
1,221
1,210
1,390
1,294
1,202
1,174
1,213
1,481
5
19
26
28
18
21
30
32
27
9
1.16
1.28
1.28
1.12
1.05
1.38
.88
1.12
1.05
.80
4
17
16
30
38
8
46
31
36
48
107
158
77
103
94
114
75
73
116
83
5.17
.84
.39
1.25
.38
.87
.40
.42
.46
.18
4.86
1.04
.30
1.11
.35
.90
.28
.32
.40
.15
4.8
1.0
.3
1.0
.3
1.0
.3
.3
.4
.1
5.1
1.1
.2
1.3
.5
.7
.4
.4
.4
.2
Far West
California
Nevada.
Oregon
_ _ _
Washington
25, 519
25 781
27, 400
24, 262
24, 846
12,827
12, 820
11, 520
12, 710
13, 041
174
206
1,225
516
424
10, 235
10, 128
8, 583
10, 375
10, 714
14, 368
14, 353
14, 144
14, 340
14, 480
12, 178
12, 082
12, 000
12,375
12, 700
7, 807
7,914
5, 318
7,198
7, 854
7,409
7, 433
6, 125
7, 167
7, 675
14,301
10, 339
157
1, 491
2,314
21.01
22. 54
21.62
16. 62
17.00
1
3
12
11
1,610
1,665
1,731
1,448
1, 469
1
5
3
11
10
1.30
1.35
1.25
1.15
1.16
3
10
20
28
26
132
142
110
109
106
9.70
7.01
.11
1.01
1.57
10.56
7.99
.12
.92
1.53
10.4
7.8
.1
.9
1.5
11.1
8.5
.2
.9
1.5
United States
19,710
11,058
48
8,835
11,858
9,668
8,272
7,555 147, 509
15.43
121
100. 00
100. 00
20, 528
1,330
1.16
100.0
100.0-
1
2
Where items are ranked, the regions are ranked separately from the States.
The amount shown in this column is called the "standard error." It represents the extent
to which the reported mean may be expected to vary as a result of the fluctuations due to
sampling alone. The chances are 68 out of 100 that the true mean lies within the range of the
sample mean plus or minus 1 S. E., assuming the sample is not biased. The chances are 95
out of 100 that the true mean lies within the range of the sample mean plus or minus 2 S. E.
Generally speaking, the larger the State the more reliable are the published averages. Text
footnote 33 (on cities) may be helpful in pointing out cautions to keep in mind when comparing
the averages for different States.
There were 23,213 usable "major independent" returns and 6,665 usable "major salaried"
returns. The following States had fewer than 100 sample cases for "all physicians": Vermont
(82); Delaware (66); New Mexico (89); Idaho (89); North Dakota (83); South Dakota (97);
Wyoming
(46); and Nevada (37).
3
Bureau of the Census, Provisional Intercensal Estimates of Regions, Divisions, and States:
July 1,1940 to 1949, Series P-25, No. 47, Washington, D. C., March 9,1951, p. 4.
lumption expenditures for physicians' services.
Schwartz anu.
and n.
R. n,.
E. vjranam,
Graham, jr.,
Jr., "Sta
-j5 vCharles
iiniius rF.. OCIIWHM&
oiate Income Payments in 1949", SURVEY
OP CURRENT BUSINESS, August 1950, table 8, p. 20.
6 The number of non-Federal physicians was calculated from data in the 1950 American
Medical Directory, table 3, p. 11, cols. 4 plus 5 plus 6 plus 7 plus 9. Differs only slightly from
similar
Dickinson-Bradley-Cargill figures. Op. cit., table 1, col. 10, p. 7.
7
Detail will not necessarily add to total because of rounding.
Source: U. S. Department of Commerce, Office of Business Economics.
SUKVEY OF CURRENT BUSINESS
20
highest per capita incomes were, on the whole, those which
had the largest supply of physicians per 100,000 population.29
(See table 12.) That is, physicians tend to locate in places
where general incomes are high—for here, also, are the hospitals, medical schools, and other facilities and specialized
personnel.
Another highly significant relationship is that between per
capita personal consumption expenditures for physicians'
services and per capita income by States. Again, this is a
relationship that should be studied in the framework of more
homogeneous spatial units, like communities by size and
region or medical service areas. It is all the more remarkable, then, when crude State comparison shows a high degree
of correlation between these two factors. In general, the
higher a State's per capita income, the higher we may expect
to find its per capita consumer expenditures for physicians'
services.30 (See table 12.)
Although little or no correlation was found between a
State's per capita income and the average net income earned
by its physicians (see above), it is understandable that the
amount of per capita consumer expenditures for physicians'
» The high correlation between physicians per 100,000 population and per capita income is
confirmed by a rank order correlation of +0.74.
30 The high correlation between per capita consumer expenditures for physicians' services
and per capita income is confirmed by a rank order correlation of +0.71.
Personal consumption expenditures for physicians' services were calculated by subtracting
from the physician's total gross receipts (from independent practice) the amounts he reported
he received from Government and welfare agencies, workmen's compensation cases, life insurance examinations, and other business organizations (item 10 minus item 16 on the whit?
questionnaire—see Technical Notes). In 1949 about 90.3 percent of physicians' total gross
receipts from independent practice were received from individual consumers. In 1941 the
figure was little different: 91.2.
July 1951
services might be more closely related to physicians' incomes.
And, according
to our data, it is—although the relationship
is fairly low.31 However, we must not rule out the probability that a similar analysis in terms of more homogeneous
units like size of community and region would show a higher
degree of correlation.
Finally, it is of considerable interest to note that there
seems to be practically no relationship between per capita
personal consumption expenditures for physicians' services
and the percentage of income spent for physicians' services.32
Some might have supposed that those States whose residents
spent the most per capita for physicians' services would also
tend to spend the largest proportion of their total incomes
for plrysicians' services.
Some may find it surprising that New York State, with the
fourth highest per capita consumer expenditure for physicians' services, could be thirty-second on percent of income
spent by individuals for physicians' services. And that
Illinois could be seventh on per capita, but thirty-third on
percent. It may be equally surprising that Mississippi,
which is lowest (forty-ninth) on per capita consumer expenditures should rank fourth on percent of income spent
for physicians' services. Or that Arkansas should be fortyseventh on per capita, but fourteenth on percent. (See
table 12.)
si The fairly low rank order correlation between per capita consumer expenditures and the
mean net income of independent physicians, by States, is confirmed by a rank order correlation
of +0.36.
32
The almost complete absence of relationship between per capita personal consumption
expenditures and percent of income spent for physicians' services, by States, is confirmed by
a rank order correlation of +0.20.
Table 13.—Average Net Income and Age of Physicians by Class of Worker for the 32 Largest Cities in the United States, 1949
Specific cities l (listed alphabetically)
All physicians
Major independent
Median
net income of
all famiSampling
lies and
Mean fluctua- Median Median
Mean Median Median
unrelated
age Percent net in- net inage
Number indivi- Percent net in- tion of net inmean:
come
come (years)
come
(thous- duals in
come (years)
1 S. E.<
ands)
19493
Total
population 2
State
City
Atlanta
Baltimore
Boston
Buffalo
Chicago
Georgia
Maryland
Massachusetts
New York
Illinois
Cincinnati
Cleveland
Columbus
Dallas
Denver
Ohio
Ohio.__
Ohio
Texas
Colorado
_ _
._
$813 $10, 450
506 10,053
8,206
373
749
9,692
8,319
286
45
43
45
46
46
0.5 $16, 609 $13, 125
1.0 14, 038 11,567
1.4 11,219
8,400
.7 13, 162 10, 100
3.3 11, 707
8,958
644
409
741
818
541
9,444
9,778
10, 571
11, 500
8,808
46
45
42
44
42
.6
1.1
.5
.5
.5
12, 754
12, 696
14, 164
15, 244
11, 757
13, 184
12, 184
11, 745
13,712
12, 097
486
628
613
823
470
10,800
10, 500
10, 136
11, 500
8,674
45
42
45
50
44
1.3
.6
.5
.5
2.0
0.5 $13, 926
1.0 12, 548
1.7 10, 574
.6 12, 420
3.4 10, 803
327
940
791
577
3,606
$2, 102
2,766
2,584
3,067
3,381
501
906
375
433
413
2,553
3,133
(5)
2,907
2,819
.6
1.2
.4
.5
.5
11,432
11,861
13, 194
13, 653
10,641
1,839
594
425
453
1,958
3,493
(«)
3,028
2,656
2,841
1.3
.5
.5
.4
2.2
Major salaried
Percent
of physiMean Median Median
cians 65
in- net inage
years of Percent net
come
come (years)
age and
over
47
44
49
47
48
11.9
9.9
14.1
14.7
11.9
0.7
1.0
2.9
.5
4.1
$7, 391
7,300
9,513
8,758
8,307
$7, 556
7,318
7,933
8,500
7,324
10, 538
10, 133
11,600
13, 286
10, 125
46
47
42
45
42
11.1
9.2
8.0
10.2
10.6
.6
1.3
(6)
.5
.6
7,405
9,256
(6)
8,037
7,744
7,750
8,250
(6)
7,429
6,889
14, 058
12, 717
12, 662
14, 458
13, 773
11,875
10, 682
11,833
12, 250
10, 265
47
43
47
50
45
11.6
9.1
18.8
18.3
12.5
1.7
.5
.6
(6)
2.8
10, 894
10, 098
9,338
(6)
7,902
8,964
9,750
7,750
(6)
7,327
41
38
40
38
40
(6)
44
41
39
41
41
38
43
Detroit
Houston
Indianapolis
Kansas City
Los Angeles
Michigan
Texas
Indiana
Missouri
California
Louisville
Memphis
Milwaukee
Minneapolis
Newark
Kentucky
Tennessee
Wisconsin,- _ Minnesota
New Jersey
367
394
633
517
438
2,775
2,351
3, 350
3, 039
2,854
.4
.3
.6
.5
.6
13, 335
14,817
12, 540
13, 978
9,464
895
1,358
682
905
478
11,308
10, 250
9,727
9,885
7,667
46
42
45
45
45
.4
.3
.6
.4
.7
15, 291
18, 758
14, 1 74
16,010
9,974
12, 833
15, 250
12, 625
12, 125
7,750
48
44
48
49
45
17.9
10.8
12.5
16.8
12.7
.5
.5
.8
.5
.6
7,344
7,386
8,077
8,167
7,395
7,000
7,417
7,250
7,500
7,000
43
40
40
35
42
New Orleans
New York
Oakland
Philadelphia
Pittsburgh
Louisiana _
New York
California
Pennsylvania _
Pennsyl vania
567
7,835
381
2,065
674
2,300
3,180
3,231
(5)
2,989
.6
9.8
.5
2.5
.8
11, 620
8,851
13, 657
9,833
12, 253
668
149
833
309
574
9,042
7,020
10, 750
7,461
8,886
41
46
43
45
44
.5
10.0
.4
2.5
.8
13. 407
9, 237
16, 141
10, 540
13, 522
10, 250
7,107
13, 500
7,725
9,875
43
48
46
46
45
11.3
10.5
16.3
15.8
15.1
.9
9.2
.6
2.6
1.0
8,306
7,395
7,184
7,499
8,838
8,111
6,824
7,143
6,542
8,000
38
42
37
41
40
Portland
Rochester
St Louis
San Antonio
San Francisco
Oregon..
New York
Missouri. _ _ _
Texas
California
371
331
853
407
761
3,065
2,973
(5)
2,303
3, 046
.5
.5
1.0
.2
1.0
13, 716
10, 689
12, 149
13, 427
12, 697
801
592
518
1,341
555
11,350
9,500
9,500
9,714
10, 100
42
46
47
45
44
.5
.5
1.1
.3
1.0
15,317
11,030
13, 163
14, 906
13, 917
13, 071
9,566
10, 545
10, 875
11,444
43
47
49
44
45
8.4
13.6
17.9
8.2
13.7
.5
.5
.9
(6)
1.2
7,900
9,500
8,025
(6)
9,393
7,400
9,375
7,100
(6)
7,750
38
44
40
Seattle
Washington
Washington
D. C.
462
798
3, 107
2,979
.6
1.2
13, 200
10, 846
720
331
10, 667
9,486
42
44
.5
.8
15.410
12, 869
14, 286
11,286
43
44
8.5
11.1
.7
2.6
7,583
8,592
7,571
8,500
37
44
147, 509
2,739
100. 0
11,058
8,835
44
100.0
11,858
9,668
45
13.2
100.0
8,272
7,555
41
United States 7 —
1 Includes all cities having approximately 325,000 or more inhabitants in the 1950 Census.
See p. 5 of source cited in footnote 2 of this table.
2 Bureau of the Census, Population of Cities of 25,000 or More: April 1, 1950, Series PC-3,
No.
6, Washington, D. C., Dec. 8, 1950. Includes members of the armed forces.
3
Based on preliminary 1950 Census data made available, through the courtesy of the Bureau
of 4the Census, prior to publication.
The amount shown in this column is called the "standard error." It represents the extent
to which the reported mean may be expected to vary as a result of the fluctuations due to
sampling alone. The chances are 68 out of 100 that the true mean lies within the range of the
(6)
(6)
41
42
sample mean plus or minus 1 S. E., assuming the sample is not biased. The chances are 95 out
of 100 that the true mean lies within the range of the sample mean plus or minus 2 SE
Generally speaking, the larger the city the more reliable are the published averages. See
text
footnote 33 for cautions to keep in mind when comparing the averages for different cities.
5
Data not available.
6
Too
few cases to yield reliable results.
7
Detail will not necessarily add to total because of rounding.
Source: U. S. Department of Commerce, Office of Business Economics.
July 1951
SURVEY OF CURRENT BUSINESS
Apparently, physicians' services partake of many of the
characteristics of a necessity. Accordingly, individuals in
the wealthier States tend to spend a smaller proportion of
their incomes for physicians' services, although a larger
actual amount. On the other hand, individuals in the lower
income States tend to 7 spend a higher proportion of their
incomes for physicians services, but spend less in actual
dollars.
The implications of these findings deserve to be much
more intensively studied, particularly by community size
and region, if not by city and region or by medical service
area and region. Of course, if data are available, the serv-7
ices studied should be broadened from simply " physicians
services" (the limited concept utilized in this article) to
"medical services", or even to "medical care"—the latter
including dental services, other curative services, etc.
Interestingly enough, the above phenomenon is apparently
not peculiar to medicine, but also occurs, at least, in the field
of education.
Specific city
Because of the unusually large size of sample and the unprecedented rate of return, it is possible—for the first time—
to present average income data, covering the year 1949, for
the 32 largest cities in the United States—with populations
of over 325,000. (See table 13.) 33_
It might be expected that physicians in the largest cities
make the most money, but such is not the case. On the
average, independent physicians in cities of 300,000-399,999
population have the largest mean net income ($15,111). As
city size increases, average income declines until in cities of
over a million population the mean for independent physicians is only $10,661. This point and some of its implications are more fully developed later in terms of the income
differences for all sizes of community.
The inverse relationship between city size and average net
income for independent physicians in cities of 300,000 inhabitants or more is, however, a far from perfect one. For
example, the 300,000-399,999 population category includes
cities ranging from Rochester, N. Y., with a mean net income
of $11,030, all the way up to Memphis, with a mean of
$18,758. The million or more population category includes
cities ranging from New York City, with a mean of $9,237,
to Detroit, with a mean of $14,058. The average net income
of salaried physicians—unlike that for independent physicians—seems to follow no clear pattern in the 32 large cities.
Not a single city having 650,000 or more population falls
among the 10 cities having the highest average net income for
independent physicians. All three of the top-income cities
had less than 400,000 population. In 1949, the average independent physician in Memphis, Tenn., earned twice as
much as his New York City counterpart. But on the other
hand, the average salaried physician in Memphis earned no
more than his New York City colleague. Independent
physicians in New York City reported the smallest average
net incomes, both in terms of the mean and median ($9,237
and $7,107, respectively), of any of the 32 largest cities—
33 As in the case of the State data, the figures for the separate cities are to be used with considerable caution and restraint for comparative purposes. Generally speaking, the larger
the city the more reliable are the published averages and percentages. There is no reason
to believe that the results for any city are biased, but the results for all cities—even the largest—will reflect fluctuations due to sampling, and, in general, the smaller the city the larger
will be the sampling fluctuations. Thus, the mean net income for all physicians in New
York City was reported as $8,851. The chances are 95 out of 100 that the true mean lies between $8,600 and $9,100. For Chicago the reported mean was $10,803. The chances are 95
out of 100 that the true mean lies between $10,200 and $11,400. The difference between the
means for these two cities is clearly significant in a statistical sense. Likewise, the average
income shown for New York—having a small sampling fluctuation—is significantly lower
than that of Atlanta, Dallas, Denver, Houston, Indianapolis, Louisville, Memphis, Oakland,
Rochester (N. Y.), or San Antonio, although these are all smaller cities with large sampling
fluctuations. On the other hand, it is not possible to say that Memphis has a significantly
higher income than Atlanta, Dallas, Houston, Indianapolis, Louisville, Oakland, or San
Antonio because all these cities have large sampling fluctuations.
21
and appreciably below the average for the country as a whole.
Newark (with a mean of $9,974) was next to lowest; Philadelphia was slightly higher with a mean net of $10,540;
Rochester, N. Y., next higher, with a mean of $11,030; and
Boston fifth from the bottom, with a mean of $11,219.
If we compare physicians' incomes in New York City
for 1941 and 1949, we must conclude that, relative to the
Nation as a whole, the situation has become considerably
worse even in the short span of 8 years. In 1941, nonsalaried
physicians in New York City reported a mean net income
which was 11 percent below the average for the Nation.
In 1949 it was 25 percent below the average for the country.34
Size of community
Lawyers' incomes were found to be lowest in the smallest
communities and highest in the largest. Dentists' incomes,
although also lowest in the smallest places, reached a peak
in cities of 50,000-99,999, and then declined.35 Generally
speaking, physicians—who, like dentists, serve individuals
primarily (whereas laywers serve both business firms and
individuals)—follow a pattern like dentists.
Table 14.—Average Net Income and Age of Physicians by Class of
Worker and Size of Community, 1949
Major independent
Size of community l
(population)
Major salaried
Percent Mean Median Median Percent Mean Median Median
of phy- net in- net inage
age of phy- net in- net income (years)
sicians come come (years) sicians come
Under 1,000
1,000-2,499
2,500-4,999
5 000-9 999
10 000-24,999
5.0
6.0
5.5
6.7
10.1
$7, 109
8,732
11, 228
11, 624
12, 134
$5, 699
7,667
10, 110
10, 149
10, 621
50
45
44
44
44
4.8
2.7
3.8
5.5
8.4
$7, 019
7,388
7,361
8,486
8,462
$7, 000
6,800
7,446
7,452
7,610
45
40
44
42
42
25,000-49,999
50,000-99,999
100,000-249,999
- 250,000-499,999
500,0' 0-999,999
1,000,000 and over
8.8
8.9
11.2
8.2
10.5
19.1
12, 812
13, 186
13,110
14, 276
13, 161
10, 661
11, 037
10, 921
10, 690
11, 970
10, 546
7,988
44
45
45
45
46
47
10.6
8.9
11.0
8.8
14.8
20.6
9,157
8,578
8,366
7,803
8,736
7,946
7,932
7,878
7,620
7,358
7,925
7,199
42
42
42
39
40
42
100.0
11,858
9,668
45
100.0
8,272
7,555
41
United States 2..
1 Returns were classified by size of place on the basis of preliminary 1950 Census data.
Detail will not necessarily add to total because of rounding.
Source: U. S. Department of Commerce, Office of Business Economics.
2
Considering all physicians, in 1949 the smallest mean net
income ($7,090) was reported in places having fewer than
1,000 inhabitants. (See table 15.) As city size increased,
average income increased fairly rapidly (with only slight
irregularity) until a36peak of $12,766 was reached in cities
of 250,000-499,999.
As a city size increased further,
average income declined to $10,021 in places of a million
or more. It is significant that physicians in cities of over a
million had a lower mean net income than physicians in
any other size of place except those in places with fewer
than 2,500 inhabitants.
34 The 1941 figures are from the Denison-Slater article. Op. cit., table 4, p. 18. At that time,
the New York City figures were: mean, $4,482; median, $3,176. The U. S. figures were:
mean, $5,047; median, $3,756. For 1949, the New York City figures were: mean, $8,862;
median, $6,925. (Thefiguresare for nonsalaried—not major -independent—physicians.)
It is also of interest to record some specific figures for 1949, by degree of specialization, for
independent physicians in the two major cities of the Nation. These could not be conveniently introduced elsewhere:
Mean net income
Median net income,
General
Partly
Fully
General
Partly
Fully
City
practice specialized specialized practice specialized specialized
New York City
$6,452
$7,223
$11,923
$5,578
$5,791
$9,246
Chicago
7,552
10,014
15,365
6,368
8,500
12,250
United States _ _
8,835
11,758
15,014
7,428
9,902
12,599
The median ages by degree of specialization for New York City's independent
physicians, in 1949, were 47 (OP), 48 (PS), and 48 (FS). For Chicago the median
ages were 49 (GP\ 52 (PS), and 46 (FS).
3
fi Weinfeld, op cit., pp. 22 (lawyer's article) and 14 (dentist's article).
™ In the section on specific cities, the peak was more sharply delimited to 300,000-399,999.
SURVEY OF CURRENT BUSINESS
22
Table 15.—Percentage Distributions of Population and Physicians,
and Average Net Income and Age of Physicians by Size of Community, 1949
Percentage
distribution
of—
Size of community l
(population)
General All
popu- physilation 3 cians 4
Under 1,000
| 38.9 (r
1 000-2,499
2,500-4,999
_ _ ___
4.7
59
5 000 9 999
10,000-24,999 ..
8.6
25,000-49,999
50,000-99,999
100 000-249,999
250,000-499,999
500 000-999 999
1,000,000 and over
United States s..
All physicians
Rela- Physitive
excess cians
per
MeMeMean
or de- 100,000
dian net
in- dian
ficit of popuage
net
physie (years) come income
cians 5 lation
(esti(percent) mate)
5.0 j-73. 5
5.3
8.5
5. 1
6.4
8.5
12.8
9.7
6.2
6.4
6.3
5.4
6.1
11.5
9.2
8.9
11. 1
8.4
11.5
19.5
100.0
100.0
2
48.4
39. 1
76.2
55.6
88.5
69.6
29 1<
120
120
124
48 $7, 090
44 8, 579
44 10, 593
44 11, 028
44 11, 425
163
154
195
170
208
185
44
44
44
44
44
46
11,876
12, 155
12, 002
12, 766
11,885
10, 021
110
44
11, 058
Median
income
of all
earners
in the
general
population,
1948 "
$6, 177 | $1, 452
7, 547
9,050
9, 354 } 1,913
9,667
1 1,984
9,759
9, 793 | 2, 125
9, 537
10, 195 } 2,150
9, 463
7,712
2, 331
8, 835
1, 889
1 Returns were classified hy size of place on the basis of preliminary 1950 Census data.
2 Excluding interns, residents, teachers, etc.
3 The basic distribution behind the general population percentages is that given in table 1,
p 2, Bureau of the Census, Population of Urban Places: April 1, 1950, Series PC-3, No. 8,
Washington, D. C., Jan. 11, 1951. The total of 87.992,647 given in that table is the total
population of all urban places (incorporated and unincorporated), excluding the population
of urban fringes. The latter areas involve an additional 7,898,892 individuals, making a total
of 95,891,539 persons in all urban areas. See: Bureau of the Census, Population of the United
Males, Urban and Rural, by States: April 1, 1950, PC-3, No. 10, Washington, D. C., Feb. 16,
1951, table 2, p. 6. Since the urban fringe population is nowhere given by size of community,
this had to be estimated. This was done by arbitrarily allocating the fringe population to
places of under 100,000 in the same proportion in which "the main urban and rural population
was distributed in these places (PC-3, No. 8, p. 2).
4 This distribution of physicians by size of place is from the present survey. An independent distribution was calculated from Fisher-Stevens' 1949 Medical Lists Data, pp. 5-13, basing
the population of the cities in each city-size group on preliminary 1950 Census data. These
two independent distributions were surprisingly similar, particularly since the FisherStevens data include residents, whereas the above data do not.
s These indices are only a rough measure of the relative concentration of physicians. They
tell us nothing about whether we have too few, just enough, or too many physicians in terms
of medical needs (as determined by some acceptable standards of well-being) as opposed to
effective economic demand (i. e., what people are able and willing to pay). It must also be
kept in mind that the comparison between population and physicians by size of community
(as well as by specific city and State) is necessarily an imperfect one since medical service
areas and legal boundaries are seldom exactly the.same.
c The figures in this column were obtained in the following manner. The base of this
column is an estimate of 165,000 physicians, including all independent practitioners and all
salaried physicians, excluding interns, residents, fellows, medical school personnel, and
physicians in the armed forces. The percentage distribution of all physicians by size of community, as obtained in the current survey, was applied to the 165,000 figure. The resultant
number of physicians was divided by the population of the given community size (calculated
as previously'described). These physician-population ratios follow practically the identical
pattern
as an independent set calculated from Fisher-Stevens' 1949 Medical Lists Data.
7
Bureau of the Census, Income of Families and Persons in the United States: 1948, Series
P-00, No. 6, Washington, D. C., Feb. 14, 1950, table 11, p. 22. Data for places under 2,500
population were calculated from table 11 by consolidating rural-farm and rural-nonfarm
fi"Tires. Only persons 14 years of age and over, with income, were included. The Bureau
of the Census did not publish data for 1949 by size of place.
8 Detail will not necessarily add to total because of rounding.
Source: IT. S. Department of Commerce, Office of Business Economics.
Apparently, the low incomes in these great metropolitan
centers are not due to the slightly higher average age (46
years as against 44) of the big-city doctors. In fact, if age
is held constant, independent physicians under 40 earn least
in cities of over a million. (See table 16.) Independent
physicians 40-54 years of age, who practice in cities of over
a million, average less than their colleagues of the same age
in all communities except those with less than 2,500 population. Physicians in cities of over a million, who are older
than 55, do slightly better than their younger confreres.
The size-of-commimity pattern for the incomes of independent physicians is quite different from that of salaried
physicians. The former start at a mean net income of
$7,109 in communities of under 1,000 inhabitants, rise fairly
rapidly to a peak of $14,276 in cities of 250,000-499,999,
and then decline sharply to $10,661 in cities of over a million.
Salaried physicians show considerably less variation or regularity from city size to city size than independents. (See
table 14.)
Temporal changes in average income by size of community
have been striking. The outstanding development from
1929-49 is the great increase in the average net income of
physicians in places under 5,000 population as compared
July 1951
with the relatively small increase in cities of over a million
(table 17). For example, in 1929 the mean net income of
independent practitioners in cities of a million or more
($6,900) was more than twice as large as that of physicians
in communities under 5,000 inhabitants ($3,200). Two
decades later the difference was only 17 percent. Thus, in
general, cities of over a million—and not New York alone—
fared poorly in the 1929-49 period.
Table 16.—Average Net Income of Physicians Whose Major Source
of Medical Income Was From Independent Practice, by Age and
Size of Community, 1949
Mean net income
Size of community
(population)
1
Age (years) 2
Under
30
Under 1,000
1 000-2,499
2,500-4,999
5,000-9,999
10,000-24,999
$6, 672
7 226
8, 962
7, 067
_. 6,273
35-39
50-54
55-59
$9, 333
11, 080
13, 921
14, 767
15, 217
$9. 484
9, 888
14, 277
12, 577
12, 993
$7, 072 $5, 676 $3, 196
8,567 6,994 3,356
11, 254 7,268 4,674
11, 724 9,483 4,808
12, Oil 9,805 6,088
16, 127
17, 481
15, 475
17, 995
16, 523
13, 225
15, 774
15, 709
14, 528
16. 071
16, 002
12,318
13, 479
13, 927
15, 554
16,030
13,948
13,115
10, 833
11,459
10, 922
14, 123
12, 696
8, 460
5, 041
5, 729
5,718
6, 846
6, 976
5, 896
United States s _ _
6,787
9,806 12, 608 14,4761 14,9671 13,952 13, 226
9,896
5,293
40-44
$9, 170 $10, 634 $10, 994
9, 663 11, 674 12, 018
11,380 12, 731 14, 065
10, 516 13, 416 14, 731
10, 720 12, 891 14, 377
6,604 9, 737 13, 406
6,695 9,599 13, 839
6, 433 10, 605 13, 749
5,742 11, 104 13, 706
5,386 9,502 12, 874
5,278 7,270 10, 049
25,000-49,999
50,000-99,999
100,000-249,999
250,000-499,999
500,000-999,999
1,000,000 and over
and
60-64 65over
45-49
30-34
15, 622
15, 718
16, 519
17, 291
15, 300
11, 783
1
2
3
Returns were classified by size of place on the basis of preliminary 1950 Census data.
The column for ''All ages" is given in table 14.
0.4 percent of the cases were "unknown" on city size. Their mean net income was $11,605.
The percentage distribution of independent physicians is as follows: 3.1 (under 30); 11.0;
18.1; 17.5; 13.1; 10.1; 7.8; 6.0; 13.2 (65 and over). The 13.2 is divided as follows: 5.4 (65-69);
4.3 (70-74); 3.5 (75 and over).
Source: U. S. Department of Commerce, Office of Business Economics.
Why, one may well ask, does the average net income of
physicians reach a peak in cities of 300,000-399,999, and
then decline sharply in the largest cities? The most plausible
answer seems to be that given in an earlier study for dentists.37
The physician-population ratio is not an ideal measure of
the relative supply of physicians, especially for comparisons
Table 17.—Average Net Income of Physicians Whose Major Source
of Medical Income Was From Independent Practice, by Size of
Community, 1929 and 1949
Percent
increase
Mean
net
Mean
net
in
mean
Size of community (popu- income, income,
net
lation)
1949
1929 »
income,
1929-49
Median
net
income,
19292
Median
net
income,
1949
!
Under 5,000
5,000-9,999
"10 000-24 999
25,000-49,999
-
50 000-99,999
100,000-499,999
500. 000-999, 999
1,000,000 and over
United States
1
Percent
increase
in median net
income,
1929-49
$3, 200
5, 400
6, 300
6, 900
$9, 075
11, 624
12, 134
12,812
183. 6
115.3
92.6
85.7
$2, 500
4, 500
5, ] 50
5, 600
$7, 320
10, 149
10,621
11,037
192.8
125.5
10). 2
97.1
7, 100
7,300
6, 800
6, 900
13, 186
13, 606
13, 161
10, 661
85.7
86.4
93. 5
54. 5
5, 500
5,400
5, 200
4, 700
10, 921
11, 199
10, 54f>
7, 988
98.6
107.4
102. 8
70. 0
5.700
11, 858
108.0
4,100
9, 668
135.8
Based on preliminary 1950 Census data.
S3,758.
Source: U. S. Department of Commerce, Office of Business Economics.
38
over time.
It is, nevertheless, a fairly good diagnostic tool
for the purpose at hand, since it is intended primarily to
suggest likely clues towards a better understanding of the
effect of community size upon size of physicians' incomes.
As community size increases, the number of physicians
per 100,000 increases rather markedly, although with some
irregularities (table 15). If we combine a few of the city
37 Wcinfeld, op. cit., pp. 13 and 14.
See: Dickinson, Bradley, and Carcjill, op. cit., pp. 3 and 4.
35
SURVEY OF CURRENT BUSINESS
July 1951
sizes, the increase in physician-population ratios proceeds
regularly
without aberration as size of community increases.39 However, the apparent vagaries in the large
cities may be due to more than imperfections of the underlying data; they ma}7 reflect significant phenomena that are
not entirely evident at the present state of our knowledge.
The average net income per earner in the general population also increases as size of place increases (table 15). On
the other hand, the average net income per physician increases quite regularly as size of community increases until
it reaches a peak in cities of 250,000-499,999, and then in
cities of more than 500,000 it declines as city size increases.
In the dental article already referred to, an hypothesis
was advanced which also seems to apply to physicians. It
seems reasonable to assume that the supply of physicians, in
1949, was smallest relative to the effective economic demand
for physicians' services in cities having between 250,000 and
500,000 inhabitants. (For dentists it was between 50,000
and 250,000.) In smaller communities, effective demand for
physicians' services declined more sharply than the number
of physicians per capita, while in larger cities the effective
demand for physicians' services increased less rapidly than
the number of physicians per capita. As in the case of
dentists, much light could be thrown on the above relationship if estimates of per capita income for the general population as well as per capita personal consumption expenditures
were available by size of community (and region).
Table 18.—Average Net Income of Physicians Whose Major Source
of Medical Income Was from Salaried Practice by Age Group,
1949
Age (years)1
income
vTean._
vied inn
Under 30-34 35-39 40-44 45-49 50-54 55-59 60-64 65 and
30
over
•
$8 272 $4, 838 $«), 000 $8, 734 $9, 721 $10, 226 $9, 744 $9, 156 $8, 636 $6, 455
7,555 4, 650 0, 405 8,153 8,721 9,018 8,391 8,094 7, 664 5, 648
All
ages
5.3; 10.8; 8.6; 7.0; 5.4; 7.4 (65 and over).
1 .o (75 and over).
Source: U. S. Department of Commerce, Office of Business Economics.
The term "effective economic demand for physicians'
services77 refers to those services which individuals are able
and willing to pay for—regardless of whether they need
them. This is not the same, of course, as "need for physicians7 services77, which represents medical needs as might be
determined by some acceptable standard of well-being—
regardless of ability to pay.
Finally, it seems a safe general conclusion from the data
of tables 12 and 15 that not only are physicians over-concentrated as to geographic area, but also as to community
size. Nevertheless, the relative excess or deficit of physicians
in relationship to population concentration, as shown in
table 15, cannot be regarded as representing the actual situation, but only as suggestive. Too many people who live in
rural areas are patients of physicians in middle-sized and
large cities, and too many in middle-sized cities seek their
physicians in larger places, to allow of any simple comparison
of population and physicians. Until studies can be made
which overcome the lack of perfect correspondence
between
medical service area and legal boundary,40 the available data
3y
This phenomenon was also observed for dentists, although in that case no irregularities
occurred for any size of community for which physician-population ratios could be computed.
See:
Weinfeld, op. tit., p. 14, table 8.
40
For an example of a start in the direction of delineating valid medical service areas, see:
Frank G. Dickinson, "Medical Service Areas in the United States", Journal of the American
Medical Association, April 5, 1947. Also sec: Frank G. Dickinson and Charles E. Bradley,
Medical Serrice Areas, American Medical Association, Chicago, 1951. However, even such a
desirable refinement as the medical service area has its shortcomings, not the least of which is
the fact that the area for specialists (to say nothing of different specialties) is hardly the same
as that for G. P.'s. Indeed, a proliferation of maps seems inevitable for a truly refined analysis,
and the problem of keeping them up to date with general and medical technological changes
and nonulation movements presents no mean task.
23
can only suggest in a general way that communities with
fewer than 2,500 inhabitants seem to have a relative deficiency of physicians; that communities between 2,500 and
25,000 population seem to have a fairly even balance between
the number of physicians and population; and that cities
with over 25,000 population have a relative excess of physicians that becomes larger (with some unaccountable irregularities) as size of city increases.
Age
Like city size, age is one of the most important factors
making for income differentials, among physicians as well
as among practically all other occupational groups. Professional workers do not begin their earning cycle as early
as most other workers. They usually start at a higher level
of income, advance faster, and reach a higher peak earnings
(after most workers have begun to experience a diminution
of earning power); at last, they, too, show a marked
falling
41
off in income, particularly after 60 years of age.
7
This was clearly the pattern of physicians incomes in
1949. Starting with a mean 42
net income of $6,787 for
physicians under 30 years of age, independent practitioners
reached their peak income of $14,967 between 45 and 50
years of age, thus more than doubling their average income
in the first 20 years of practice. During the next 20 years
of practice, the average peak income was halved. (See
table 16.)
Salaried physicians followed the same pattern at a somewhat lower level, with salaried income levels being lower
than independent for all age levels except 65 years of age
and over—suggesting the slightly greater relative security
of salaried physicians as compared with their independent
colleagues. Although independent physicians 65 years of
age and over made less than those under 30, salaried physicians in the older age groups reported more than those in
the younger.
Table 19.—Distribution of Physicians and Average Net Income by
Class of Worker and Sex, 1949
Sex
Male
Female
Both sexes
Major indeMajor
salaried
pendent
All Major
All Major
Major
Major
indeindephysi- pend- sala- physi- pend- salaried Mean Medi- Mean Mediried cians
cians
ent
net an net net an net
income income income income
95.9
4.1
100.0
96 9
3. 1
100.0
92 3
7. 7
100.0
100.0
100.0
100.0
78 4
58. 2
77.7
21 6 $11 983 $9 823 $8 522
41.8
7,059 5,591 5,183
22.3 11,858 9,688 8,272
$7 748
5, 218
7, 555
Source: U. S. Department of Commerce, Office of Business Economics.
The median age of all physicians in 1949 was 44 years.
Dentists (in 1948) averaged
43 years; lawyers (in 1947) like
physicians averaged 44 }rears.43 Independent physicians in
1949 were about 4 years older than salaried physicians
(excluding interns, residents, etc.), their median ages being
45 and 41, respectively—as was the case with lawyers (in
1947) as well. Independent dentists averaged 44 years;
salaried, 37 (in 1948). About a quarter of a century ago
(1926), the average age of independent medical practitioners
was practically the same (46 years) as today.44 No comparable data on salaried physicians are known to the present
writer.
41
See: William Weinfeld, "Individual Earners and Earnings," in Roy G.'Blakey, William
Weinfeld, James E. Dugan, and Alex L. Hart, Analyses of Minnesota Incomes, 1938-39,
University
of Minnesota Press, Minneapolis, 1944, p. 74.
42
The number of physicians in the "Under 30" age group who were under 25 years of age
is negligible.
« Weinfeld, op. tit., table 8, p. 14 (dentists) and p. 23 (lawyers).
44 From a study by Allon Peebles based on the 1927 American Medical Directory, cited by
Leven, op. tit., p. 43.
SUKVEY OF CURRENT BUSINESS
24
Sex
According to the 1940 Census, 4.6 percent of the physicians
in practice at that time were women.45 The Women's
Bureau indicates that this percentage "has shown little
change in the past 40 years".46 Approximately 4.1 percent
of the physicians who reported in the present survey were
women. It is not clear whether this represents a slight
under-reporting or an actual decline (table 19).
Whereas 22 percent of the male physicians were salaried
in 1949,47 practically twice as many of the women were
salaried and salaried physicians tend to earn less money.
Table 20.—Percentage Distribution of Physicians and Average Net
Income by Class of Worker and Size of Community, 1949
Size of community
(population)
All
physicians
l
Mean net income
Major
independent
Major
salaried
Major
independent
Fe- Male Fe- Male Fe- Male
Male male
male
male
Under 1,0001,000-2,499
2,500-4,999
5,000-9,999
10,000-24,999
25,000-49,999
50,000-99,999
100,000-249,999
250,000-499,999
500,000-999,999
1,000,000 and over
4.9
5.3
5.2
6.5
9.7
4.8
3.2
3.0
4.0
8.2
5.0
6.0
5.6
6.7
10.0
4.2
3.6
2.9
4.3
8.8
4.7
2.7
3.8
5.6
8.6
9.2
8.9
11.1
8.4
11.4
19.3
9.7
6.9
11.6
8.4
13.9
26.2
8.8
8.9
11.1
8.2
10.5
19.1
10.1
7.8
12.0
8.7
12.4
25.1
10.6
9.1
11.0
8.8
14.8
20.2
Major
salaried
FeFemale Male male
5.7
2.6
3.2 UlO,610 $5. 986 $8, 090 $5, 227
3.4
7.3
July 195
employed part-time, both among independent and salariec
practitioners. Although a somewhat larger proportion o:
independent women practitioners were full specialists, womer
traditionally went into the less lucrative specialties, lik(
pediatrics. Women physicians clearly earn less than men
but the real differences are undoubtedly magnified by dif
ferential factors, such as those cited above.48 (See tables 20,
21, and 22 for further data.)
Table 22.—Average Net Income of Physicians by Degree of Specialization, Class of Worker, and Sex, 1949
Class of worker and
average income
Major independent:
Mean net income
Median net income, _
Percent 1 2 .
Major salaried:
Mean net income
Median net
income__
Percent 1 2
General practice
Partly specialized
Fully specialized
Male
Male
Male
Female
Female
Female
$8, 956
$7, 567
41.5
$5, 160 $11,857
$3, 860 $10, 031
18.2
33.7
$6, 957 $15, 186
$4, 692 $12, 791
17.8
40.4
$8, 517
$7, 188
48.5
$6, 492
$6, 285
12.3
$4, 147
$4, 267
14.4
$4, 732
$4, 714
11.9
$5, 775
$6, 000
58.6
$7, 369
$6, 891
9.5
$9, 085
$8, 144
65.4
Other
Male
Female
$8, 739
$8, 232
12.7
$4, 585
$4, 438
15.1
1
This is the percentage of cases, for a given sex, found in each degree of specialization.
The
sum of the percentages for independent male practitioners should add up to 100, etc.
2
Detail will not necessarily add to total because of rounding.
Source: U. S. Department of Commerce, Office of Business Economics.
9.1
5.7 il3, 219
11.2
7.9 J13, 821
16.0
27.8 10, 720
7,781 8,916 5,539
Full-time versus part-time practice
7,789 8,648 5,373
6,621 8,322 4,661
United States 2 _ _ _ 100.0 100.0 100.0 100.0 100.0 100.0 11,983
7,059 8,522 5,183
In 1949, approximately 92 percent of all the physicians in
the country considered themselves employed on a full-time
basis, and only 8 percent said they worked part time. The
latter group includes all physicians who earned any income
at all from medical work during the year 1949. Part-time
employment seemed equally infrequent among independent
as among salaried physicians (table 23).
1
2
Based on preliminary 1950 Census data.
Detail will not necessaiily add to total because of rounding.
Source: U. S. Department of Commerce, Office of Business Economics.
Another characteristic of women physicians was that they
had a slightly greater tendency to practice in the larger
cities—where incomes also run a little low. (See table 20.)
Likewise, an appreciably larger proportion of women were
Table 23.—Average Net Income of Full-Time and Part-Time
Physicians by Class of Worker, 1949
All physicians
Class of worker
and average
income
Male
Female
Major independent:
Mean net income
$11, 983 $7, 059
Median net income
_
$9, 823 $5, 591
Percent
96 9
31
Major salaried:
Mean net in$8, 522 $5, 183
come
Median net in$7, 748 $5, 218
come
7.7
Percent
92.3
Part time
Full time
All physicians
Excess
of male
income
over
female
(percent)
Male
Female
Excess
of male
income
over
female
(percent)
Male
Female
Excess
of male
income
over
female
(percent)
69.8 $12,656 $8, 352
51.5 $4, 160 $2, 513
65.5
75.7 $10, 444 $7, 088
97 4
2.6
47.3 $2, 488 $1, 518
8.3
91.7
63.9
64.4 $8, 766 $6, 075
44.3 $4, 467 $2, 656
68.2
48.5 $7, 899 $6, 169
93.9
6.1
28.0 $3, 500 $2, 333
72. 1
27.9
50.0
Source: U. S. Department of Commerce, Office of Business Economics.
*s See: Bureau of the Census, Population: Volume III, Labor Force; Part 1, United States
Summary,
Washington, D. C., 1943, table 58, p. 75.
4
6 Women's Bureau, The Outlook for Women in Occupations in the Medical Services: Women
Physicians, Bulletin 203, No. 7, Washington, D. C., 1945, p. 1.
47 Medical Economics magazine reported that 10 percent of the men and 22 percent of the
women in 1947 were salaried (loc. cit., June 1949, p. 78). However, these figures are not at
all comparable with those of the present study in this respect because Medical Economics
questionnaires went "almost entirely to physicians in active, private practice", thus missing
most salaried physicians, particularly women (loc. cit., September 1948, p. 65).
Major independent
Major salaried
Item
Table 21.—Average Net Income of Full-Time and Part-Time
Physicians by Class of Worker and Sex, 1949
Full time Part time Full time Part time Full time Part time
Mean net income
Median net income .
Percent
__
_ Median age
Percent 65 years of age and
over
$11, 687
$9, 402
92. 0
0)
0)
$4, 053
$2, 601
8.0
0)
(')
$12, 583
$10, 352
91.7
44
$4, 059
$2, 399
8.3
65
$8, 605
$7, 759
92.9
41
$4,029
$3, 213
7.1
46
9.7
51.1
5.9
24.3
1
Not calculated.
Source: U. S. Department of Commerce, Office of Business Economics.
All full-time physicians earned three or four times more
than their part-time colleagues. Full-time independent physicians alone, with a mean net income of $12,583 in 1949,
earned three times more than part-time independent physicians, the latter reporting a mean net income of $4,059.
The incomes of part-time physicians are understandably low,
since these persons tended to be well along in years or were
ill or incapacitated. Many of the part-time physicians were
partly retired. The average age of part-time independent
practitioners was 65, as compared with 44 for their fulltime co-workers. Part-time salaried physicians, on the
other hand, were only 5 years older (46 years) than their
full-time colleagues, who averaged 41 years.
48
Women in independent practice tend to be about 2 years older than men (the median
ages are 47 and 45). Likewise for women in salaried practice (43 and 41). All women dentists
are only about a year older than men (45 and 44).
SURVEY OF CURRENT BUSINESS
July 1951
TECHNICAL NOTES
Since 1933 the Department of Commerce has made numerous mail surveys in order to provide otherwise unobtainable information needed for compiling its official estimates of national
income. One of the better known series of surveys has been that pertaining primarily to
independent professional practitioners. In the past these questionnaire studies have covered
such varied groups as certified public accountants, chiropodists, chiropractors, consulting
engineers, dentists, lawyers, nurses, osteopathic physicians, physicians and surgeons, and
veterinarians. These surveys generally provide valuable byproduct data which furnish an
informative description of the trends in the economic conditions in the various professions.
Prior to 1950, the Department had conducted four large-scale surveys (and one small interim
inquiry—in 1949) of physicians' income: in 1933, 1935, 1937, and 1942. In 1950 the Office of
Business Economics of the Department of Commerce and the Bureau of Medical Economic
Research of the American Medical Association jointly undertook an unusually large research
venture—the 1950 Survey of the Medical Profession—of which the present article is the first
tangible result. The present study—for all its detail—scarcely scratches the surface. Accordingly, it is anticipated that the Bureau of Medical Economic Research (under the direction
of Frank G. Dickinson, Ph. D.), as well as Government agencies other than the Department
of Commerce, will eventually wish to dig deeper into the mine of statistical information
which the physicians of America have so generously provided.
THE WHITE QUESTIONNAIRES
In the latter part of April 1950 the Department of Commerce mailed out nearly 100,000
white questionnaires to half the living physicians (inactive as well as active; and to interns,
residents, fellows, etc., as well as to others) in the United States. The physicians were asked,
on a voluntary basis, to provide information on such items as age, sex, form of practice; degree
and field of specialization; certification by specialty boards, full time or part time practice;
and location of practice (city and State). In addition, they were asked to give their gross
income; costs of independent practice; net income from independent practice; salary income;
total net income from all medical work; gross income received from patients as personal consumption expenditures for physicians' services; and home-and-office versus hospital-andclinic gross receipts. This questionnaire (as contrasted with buff and green questionnaires
mailed later—to be described in subsequent paragraphs) was not followed up, nor was it
identified in any manner. All data in it pertained to 1949.
The 100,000 physicians represented every other name in the alphabetically arranged IBM
card file of all living physicians in the United States maintained by the Bureau of Medical
Economic Research of the American Medical Association.
Inasmuch as no figures are available to indicate the precise composition of the list of physicians to which questionnaires were sent, it is difficult to give exact figures as to the rate of
response. However, a fair estimate can be made. Of the approximately 99,250 forms mailed,
3,167 (or 3.2 percent) were returned as undeliverable by the time of the cut-off date (October
24), and 41,668 came back as replies—although not all usable.
Excluding interns, residents, fellows, medical school teachers, and physicians in the armed
forces (as well as fully retired physicians, those engaged exclusively in nonmedical work, and
the deceased), about 41.9 percent of the physicians (salaried as well as independent) who
should have replied made usable returns. These 29,878 returns represent roughly 18 percent
of the physicians in active civilian practice.
To conform with Census Bureau practice, medical school teachers and physicians in the
armed forces were excluded from the analysis. Interns, residents, and fellows are included
as physicians by the Census Bureau, but these were excluded as well, primarily because of the
difficulty of obtaining the money value of their kind of income (food, lodgings, etc.), but also
because they are functionally part way between students and full-fledged practitioners. It is
recognized, of course, that for many functional analyses they must be included, if a distorted
picture is not to result. None of the exclusions affects independent practitioners, since all the
excluded groups are restricted to salaried personnel. Subsequent analysts may wish to study
the excluded groups, and it is highly desirable that this be done.
Comparative data against which the sample results could be checked were practically
nonexistent. Results from the 1950 Census were still not available as the article went to
press—not even a simple count of the number of independent and salaried physicians for the
country as a whole.
The only other important potential source of data was the 1950 edition of the American
Medical Directory. While its few summary tables were of considerable help in a number of
respects, the Directory was not satisfactory as a source of benchmark data because of the great
amount of work which would have been entailed in tabulating the better than 200,000 listings.
The Directory's separately bound summary compilation entitled Survey of Number of Physicians in the United States by County (Chicago, 1950) did not permit any size-of-community
comparisons, although it had a wealth of other data. Earlier tabulations—say, by age
groups—based on preliminary Directory data were of no help because they included all retired
physicians, as well as interns and residents.
In the end, only one factor was adjusted for; namely, the distribution of physicians by
States. Three sources provided data on the distribution of physicians by States, and they
agreed fairly closely. The data of the Medical Mailing Service of Chicago (a commercial
mailing firm) were chosen for benchmark purposes because they contained no retired physicians, no interns, and no military physicians. It was necessary only to subtract out the
non-Federal residents from the benchmark data to make them comparable to the survey data.
Some of the States showed significant under- and over-reporting. Arizona, Montana,
Minnesota, and North Dakota each yielded 24-30 percent more returns than they should
have. The Far West region as a whole yielded 18 percent more, and Northwest 11 percent.
Rhode Island, South Carolina, Mississippi and Louisiana each reported 17-22 percent fewer
returns than they should have. The Southeast region as a whole reported 12 percent fewer,
while Southwest reported 6 percent fewer.
To adjust for these discrepancies, 1,097 white returns were randomly discarded in the proper
proportions in the proper States, and 1,097 buff returns were added so as to give the correct
proportion of returns for each State. The over-all effect of these corrections was quite minor:
the mean net income for all physicians dropped from $11,103 to $11,058, a 0.4 percent decrease.
A number of the past surveys, which have had what were felt to be reliable benchmark
data to compare with, have reported over-response from full specialists. In correspondence
with the present author,
Medical Economics magazine indicated that in their 1948 survey
(covering 1947 incomes)1 56.8 percent of their returns were from full specialists. Since this
figure was felt to be too high, the returns were adjusted to a figure of 31.1 percent full specialists
based on data from the Directory Department of the American Medical Association. On
the other hand, the survey of Canadian medical incomes conducted in 1947 by the National
Income Unit of the Dominion Bureau of Statistics found that "The proportion of full-time
specialists reporting in the survey of incomes was significantly lower (my
italics) than the
proportion of full-time specialists in the whole profession * * * ,"2
The present writer did not feel that he could say whether the returns of the present survey
were too high, too low, or exactly right in the proportion of usable returns received from
general practitioners, part specialists, or full specialists. As a consequence, the published
figures were not weighted with regard to degree of specialization.
The reason for not adjusting for possible bias in the reporting of full specialists in the present
study may be explained simply. The only potential basis for comparison are the data derived from the 1950 Directory. In 1949, according to the findings of the present study, 42.0
percent of the independent and salaried physicians in private practice (independent practitioners and their physician-employees) reported themselves as full specialists, and 40.1 per1 See: William Alan Richardson, "Physicians' Incomes," Medical Economics, September
1948 through June 1949 (excluding January 1949). See pp. 67, 68, and 71 in the September
1948
article for a descriptive account of the weighting procedure used.
2
See: (Kathleen James) Survey of Incomes in the Medical Profession in Canada in 1939,1944,
1945, and 1946, Dominion Bureau of Statistics, Ottawa, Canada, 1948, p. 4.
953914—51-
25
cent as general practitioners.
Comparable Directory data indicate that in 1949 only 36.5
percent of the private practitioners reported themselves to the AMA as full specialists and
48.2 percent as G. P.'s. (See table 1A.)
We do not really know the reason for the discrepancy between the above set of figures.
However, it seems quite plausible that what could have produced the apparent "overresponse" from full specialists in the present study is the following. When some physicians
replied to the anonymous questionnaires in the 1950 Survey of the Medical Profession they
tended to designate themselves as full specialists if they thought of themselves as such. When
they filled in the AMA Directory Department cards, complete with their name and address,
they were somewhat more modest, since the designations would be published.
Thus, some respondents to the survey who perhaps should not have called themselves full
specialists may have done so. That act alone would not necessarily mean that they entered
income, age, or size of community incorrectly as well. But to have weighted the returns in
such cases to obtain the "correct" distribution by degree of specialization would have done
just that. On the other hand, if specialists did make tcp many returns, their presence in the
sample would automatically overstate the true average income, understate the true average
age, etc. In such a case the distribution should have been adjusted if reliable and adequate
benchmark data were available. Such data do not appear to exist either for independent or
salaried physicians.
Table 1A .—Comparison of Independent Estimates of Degree of
Specialization Among Physicians, 1929 and 1949
All physicians
Source of data
Leven, 1929 L
Present study, 1949 2
Physicians in private practice (independent and
salaried) :
Present study, 1949 s__...
American Medical
Directory, 19504
Major independent
Fully
Partly
Partly
Fully
General specialGeneral
specialspecial- practice
practice specialized
ized
ized
ized
(percent) (percent)
(percent)
(percent) (percent^
(percent)
52.9
37.8
20.8
16.3
26.3
45.8
40.1
17.9
42 0
48.2
15.3
36.5
55.9
41.3
20.9
18.2
23.2
40.5
1
2
Op. cit., pp. 50-1. Leven's category "All physicians" excludes interns and residents.
The present study also excludes both interns and residents. The figure 37.8 includes the
2.83 percent of physicians who were designated as "Other" (salaried only).
"Physicians in private practice," is the only possible basis on which the present study and
the American Medical Directory, 1950, could be compared. The designation includes only
independent practitioners and their physician-employees. This group was picked out from
the4 data of the present study to afford fairly strict comparability with the Directory.
Frank V. Cargill, editor, American Medical Directory, 1950, American Medic-il Association, Chicago, 1950, table 3, p. 11. Calculated by the author from columns 4, 5, and 6, exclusive of the physicians on the "Government Service" line. For the most part, the data
in this volume are as of July 1949. See: Frank G. Dickinson, Charles E. Bradley, and Frank
V. Cargill, Comparisons of State Physician-Population Ratios for 1938 and 1949, Bulletin 78,
Bureau of Medical Economic Research, American Medical Association, Chicago, 1950, p. 3.
In the first Nation-wide survey of physicians' incomes, conducted in 1929 (covering 1928
incomes) by the American Medical Association, 40 percent of the physicians reported thornselves as full specialists, but the author of the report on that survey was careful to point out
that. "The percentage of specialists is found in each instance to be higher in the study than
for the corresponding classification in the directory." See: R. G. Leland, Income from Medical
Practice, American Medical Association, Chicago, 1931, pp. 12 and 13.
Likewise, the study made in 1926 by H. G. Weiskotten (cited by Leven, op. cit., p. 50)
found that 41 percent of the 1915 graduates and 35 percent of the 1920 graduates of 57 Class A
medical schools had already become full specialists. But clearly, all physicians in active
ractice in 1926 would have shown something less than the 41 percent of full specialists shown
y the relatively young (i. e., young in 1926) class of 1915. Even today the percentage of
full specialists among men over 40 years of age is significantly lower than for those under 40.
Two decades ago the contrast must have been even more marked.
E
Source: U. S. Department of Commerce, Office of Business Economics.
THE BUFF AND GREEN QUESTIONNAIRES
Because of limited funds, questionnaires in the professional surveys have generally, but not
always, been addressed only to a sample of the profession. The proportion of usable questionnaires returned has varied from 10 to 30 percent of the entire mailing. Naturally, this has
always raised a question concerning the extent to which the returns received represented the
entire group sampled. Accordingly, with the encouragement of the Bureau of the Budget
and the approval of the American Medical Association, it was decided to attempt some
experimental follow-up mailings. In order not to affect comparability with past Department
of Commerce estimates, one questionnaire (the white) was designed to have no follow-up, and
hence no identifying code number. To determine the effect of identification alone, as well as
to study follow-up effects, the buff questionnaire was designed. To permit the collection of
data for the 1945-49 period, as well as to study the effects of follow-up returns, the green questionnaire was designed.
About a month after mailing the white questionnaires, approximately 10,000 buff and
15,000 green questionnaires were mailed out. The buffs represented every tenth physician
not selected for the white mailing, the greens every sixth physician not hitherto sampled.
The content of the buff questionnaire is exactly the same as the white. However, both the
outside and return envelopes wrere identified by the code number \vhich the Bureau of Medical
Economic Research of the AMA assigns to each physician. The physicians were explicitly
apprised of the use of the code number in the covering letter mailed with the questionnaire^;
namely, to make it possible to send additional mailings to the norirespondcnts.
The green questionnaire was very similar for the most part to the white, except that it
covered five years (1945-49) of income information (the whites and buffs were for 1949 only)
and asked for five years of data on salaries and wages paid to employees, as well as the number
of employees—items not on the white form. Thus, there were about three times as many
items on the green as on the white form, but—more important—the average independent
practitioner answering a green return had 5 to 6 times as many income items to look up as the
average white respondent. In spite of these great differences, the estimated rate of return for
the first mailing of the greens, excluding interns, residents, etc., was 35.6 percent as against
42.2 percent for the buffs, and 41.9 percent for the whites. Like the buff mailings, the green
carried code numbers for later follow-up work.
In all, three mailings were made of the green forms and three of the buff. The first wave of
the greens went out on May 18, tho first of the buffs on May 22. On August 2 the second wave
of both the buffs and greens were mailed, and on October 10, the third and last wave of both
forms were finally mailed. This is the first Commerce Department professional survey in
which the follow-up technique was used.
SURVEY OF CURRENT BUSINESS
26
THE EFFECT OF IDENTIFICATION
On the first buff mailing, only 5 out of every thousand physicians who replied had
obliterated the code number. Moreover, since the rate of return for buffs and whites was
practically identical, it seems unlikely that any significant proportion of physicians failed to
respond to the buffs merely because of the use of identifying code numbers. About 0.0
percent of the respondents to the first green mailing obliterated the code number, and another
0.6 percent used their own envelopes—thus eliminating the code number, but not necessarily
deliberately. (Only 0.05 percent of the first-wave buffs used their own personal envelopes.)
July 1JJ51
by means of personal interviews, the survey also obtained a small number of returns from an
incomplete sample of the nonrespondcnts to the mail questionnaires. It was concluded that
tho results obtained from the mail questionnaires were not significantly different from those
obtained by the interview technique.
On the other hand, in an earlier study of dentists' incomes by the same Canadian group, 6
a similar comparison of respondents and nonrespondents indicated that respondents to the
mail questionnaires reported significantly higher average net incomes than the respondents
to the personal interviews.
Table 2A.—White, Buff, and Green Returns: Mean Net
Income, 1949
THE EFFECT OF FOLLOW-UP MAILINGS
To judge from the buff follow-up returns, the average net income of physicians showed no
consistent upward or downward trend. The green returns, on the other hand, showed a
downward trend for independent physicians and an upward trend for salaried. (See
table 2A.) Several statistical tests were applied, but because of technical difficulties their
results
would have to be highly qualified to be meaningful. It is, therefore, difficult to say
w r hether the results of any given mailing are significantly different, statistically speaking,
from other mailings. Earlier studies also uncovered conflicting evidence on the effects of
follow-up returns.
Leven cites contradictory evidence on follow-up results for physicians. In the national
C. C. M. C. sample, on the one hand, the follow-ups yielded lower average incomes, although
this is attributed, at least in part, to the nature of the appeal used in the follow-up letter;
namely, that physicians should reply even if they felt their cases to be atypical.3 On tho
other hand, a test study in three Vermont communities eventually attained complete response
by a combination of mail and interview techniques. The two groups showed practically
no difference in average gross income. Moreover, "the reasons for the physicians' failure to
reply to the mailed questionnaire were tabulated and it was
established that failure to reply
was not in any way associated with the size of income." 4
In a recent Canadian survey of physicians' incomes^ the follow-up technique was also used,
but no report was made on the results obtained from the several waves of response. However,
Green returns
Buff returns
White
returns
Item
Major independent:
Mean net income _.
Sample size (percent)
Sample size (number)
Major salaried:
Mean net income
Sample size (percent)
Sample size (number)
Wave Wave
2
1
Wave Wave Wave Wave
2 i p
1
3
$11,858 $11, 520 $12, 249 $11, 514 $11, 573 $11, 075 $10,215
85. 6
78.5
83.2
84.4
76.6
82.8
77.7
385
589
23, 213 2,393
811
363 2,894
$8 272 $8, 229 $7, 996 $8, 276 $8, 506 $8, 335 $9, 327
14.4
21.5
23.4
17.2
22.3
16.8
15.6
65
885
6, 665
657
119
67
168
Source: IT. S. Department of Commerce, Office of Business Economics.
3 Op. tit., pp. 13 and 14.
4 Ibid., p. 8, footnote.
« Op. tit., p. 4.
6 (Kathleen Muttitt), Survey of Incomes in the Profession of Dentistry in Canada, 1.941 to
1944, Dominion Bureau of Statistics, Owatta, Canada, 1946.
National Income and Corporate Profits, Fisrt Quarter 1951
[Continued Jrom page 8]
Compared with a year ago, profit movements by industries
diverge to some extent clue to the fact that the current
business expansion is based so largely upon military needs
and business capital expenditures. Some of the industries
upon which heavy dependence is placed for military goods
and the essential ingredients of their production are among
those reporting the largest increases over a year ago. For
example, machinery, metals, rubber and petroleum are
among those recording better-than-average increases.
Among the industries not directly related to defense, the
rates of increase have varied considerably over a year ago.
The textile and paper industries, for example, reported the
largest increases, while the tobacco and printing industries
showed the smallest gains. Railroads with their capacity
being utilized to a greater extent are doing better relatively
than utilities on the year-to-year comparison.
Because of the general incidence of the large increase in
corporate taxes at the beginning of this year, few industries
were aide to report higher net profits in the first quarter
than in the fourth quarter.
For industry as a whole, profits after taxes were one-third
larger than in the initial quarter of 1950. As a percentage
of total national income profits after taxes fell off in the
first quarter to 8.7 percent, compared with 9.5 percent in
1950, the latter having been realized in other peak business
years such as 1929, 1941, and 1948. In the war years of
excess profit taxation the ratio was lower than currently.
New national income publication
The complete estimates of the national income and product
for 1950 have just been compiled and customary revisions
made of the figures for the two preceding years 1948 and
1949. Summary totals for the years 1948 through 1950 are.
given in table 3 (page 8), together with recent quarterly
figures.
This year the completely revised data for the years 1948
through 1950 are given in a separate publication—Nations,'
Income—A Supplement to the Survey of Current Business—
which contains a comprehensive description of national
income concepts and methodology, as \vell as a complete set
of data from 1929 through 1950. Announcement of tho
availability of this publication and its major features will be
found on page 7 of this issue.
Table 4—Corporate Profits Before Tax, by Major Industries, Quarterly
[Millions of dollars]
11 50
19 49
1948
1U.-11
Item
I
All industries, total
Mining
_ _ __
Manufacturing
I )urable-goods industries
Non-durable-goods industries
Transportation
-
_ ..
IV
I
II
III
IV
I
II
III
IV
I
12,210
8,554
8,904
7,987
7,469
6, 722
7,307
6,838
7,466
9, 448
11,801
12, 652
356
398
455
438
349
307
242
256
228
310
442
452
360
4,804
2,165
2,639
4, 685
2,182
2,503
4, 769
2,294
2,475
4.771
2, 584
2,187
4, 066
2, 153
1,913
3,407
1. 803
1, 604
3, 857
2, 007
1,850
3,690
1,874
1,816
4, 018
2, 165
1, 853
5. 251
3, 066
2. 185
6, 761
3, 706
3,055
7,801
4,409
3,392
7. 437
4, 005
3,372
239
449
594
421
204
336
354
352
225
450
704
733
360
346
405
466
430
422
474
566
550
529
602
709
2,740
1,952
2. 384
2 242
2.432
2, 066
2,429
2,881
3, 365
3,064
3, 344
2,504
374
2,648
Source: U. S. Department of Commerce, Office of Business Economics.
III
8,317
414
Communication and public utilities
\ 11 other industries
II
i lew or
STATISTICAL SERIES
Foreign Trade Indexes: Revised Data for Page S-211
[1936-38 average=100]
Exports of United States
merchandise
Imports
2
Exports of United States
merchandise
Period
Value
Unit
value
Quantity
Value
86
124
119
99
92
93
104
110
118
127
84
265
276
150
129
140
154
165
161
163
214
232
151
140
150
147
149
137
128
97
58
71
65
84
87
85
92
98
100
73
159
214
102
126
154
147
172
180
170
125
223
277
156
150
176
172
187
183
170
132
136
112
91
70
71
76
80
84
108
172
176
129
81
54
56
72
77
83
113
131
130
116
166
179
124
85
54
59
66
83
98
122
165
154
127
99
77
80
94
96
98
104
101
116
98
86
69
76
75
92
102
114
77
88
90
96
108
108
113
132
157
206
301
290
197
206
275
214
219
193
105
107
135
172
274
439
484
328
325
518
428
408
347
97
95
102
109
133
146
167
167
158
188
200
82
94
99
117
87
97
105
107
113
108
123
79
92
103
131
113
138
158
167
196
230
288
96
98
105
112
130
141
151
156
173
213
235
180
146
355
243
147
125
127
146
191
162
164
189
130
130
130
129
116
120
113
110
182
189
174
169
157
158
154
154
120
105
104
115
152
127
118
120
126
121
113
104
103
102
88
95
145
137
108
107
142
133
124
113
1931: First quarter...
Second quarter
Third quarter
Fourth quarter
96
86
83
99
95
81
71
78
100
94
86
86
86
84
92
88
83
107
101
97
90
1932: First quarter
Second quarter .
Third quarter
Fourth quarter
78
65
60
76
61
51
47
57
78
75
78
71
60
68
65
57
44
50
82
79
73
74
62
61
71
63
77
90
83
87
44
45
58
53
65
78
74
78
70
65
71
75
82
85
84
87
89
89
90
93
93
93
92
94
95
96
98
98
96
97
97
99
95
95
97
96
97
98
96
95
97
95
64
74
88
90
84
85
74
77
74
72
85
79
80
73
67
64
81
75
80
69
91
83
96
91
91
86
93
96
92
104
88
96
45
70
70
79
84
85
.
..
1928
1929
1930
1931.
1932
1933
1934. _ _
1935
1936. .
1937
1938
1939
1940
1941
1942
1943
1944
1945
1946
1947.
1948
._
_.
..
1950
1 929: First quarter
Second quarter
Third quarter
Fourth quarter
1930: First quarter
Second quarter
Third quarter
Fourth quarter
2
Period
Quantity
Annual index:
1913
1919
1920
1921. . _
1922
1923
1924
1925
1926
1927
Imports
_
_
_
._
1933: First quarter
Second quarter
JulvA ugust
September _ _.
.
October
November
_ _ _
__
December . _
1934' January
_
_
March
A [av
June
July
\ugust
September
October
November
December
1935: January.
February
March
April
May
June_
July
August
September..
October
November..
December . .._ . __
70
83
78
70
73
68
73
79
86
82
71
74
66
78
69
67
71
71
71
83
94
113
95 J
64
69
65
70
77
84
79
69
71
66
75
66
66
69
69
70
80
90
110
91
78
70
71
74
03
65
63
fil
69
66
!)!)
73
67
7-'!
62
82
74
Sfi
81
81
76
84
88
82
93
79
88
Unit
value
1i
Quantity
Value
October
November
December
83
75
81
79
85
76
74
73
89
107
92
91
80
74
79
78
81
74
73
72
89
108
92
93
1937' January
February
ATarch
4pril
May
June
July
August
September
October
November
December
88
90
97
101
108
97
100
104
114
131
127
132
1938" January
February
TvTarch
April
IVTav
1936: January
February
March
\pril
M*)y
Tune
July
\usust
September
Julv
August
September
October
November
December
.
1939* January
February
March
April
May
June
Julv
Aumst
September
October
November
December
1940' January
February
March
\pril
May
June
Julv
\U211st
October
No vernber
December
1941: January. _ _ _. _
85
February
85
March
88
AnriL...
S8
Mav
90
June
_ _ _ _
90
July ..
90
August
89
September
90
October
90
November
91
December
90
90
1942: January
90
February
89
March
89 1
April
89
AT ay
88
June
91
July
92
August
90
September
89
October
90
November
December
91
....
_.
Unit
value
Value
97
99
97
99
96
98
98
98
101
101
100
102
98
98
100
101
97
99
101
102
108
108
99
118
91
92
95
97
92
95
96
98
106
104
98
117
93
94
95
96
9f
96
96
96
98
97
98
IOC
90
94
104
109
117
105
109
112
120
135
128
131
103
104
107
107
108
108
109
107
106
103
101
99
109
122
135
126
122
122
116
110
105
102
97
96
111
127
144
137
136
136
128
121
114
110
104
99
103
104
107
109
111
111
110
110
10*
108
107
117
105
111
113
108
98
96
98
104
119
108
114
117
106
111
111
104
94
92
94
100
112
102
109
100
101
100
98
96
97
96
95
96
94
94
96
78
76
85
76
73
76
89
89
91
86
86
80
76
84
76
72
72
72
83
84
87
84
81
102
101
IOC
9€
9£
9,c
9f
94
9f
9f
9"
94
93
95
116
101
110
104
101
110
120
134
118
143
86
89
108
93
101
96
93
102
117
133
118
147
93
94
93
93
92
92
92
92
97
99
99
102
87
78
97
93
97
89
85
89
97
101
103
110
83
74
93
91
95
87
83
88
97
101
105
113
9."
9f
9f
9'
9^
9£
9?
9C
IOC
IOC
101
108
87
93
91
93
95
100
99
92
102
104
114
114
93
101
99
99
100
1 06
105
96
104
106
116
1(H
107
lOf
10S
107
10P
!0(
10.K
104
102
102
102
10:
lor
141
134
135
126
126
140
129
139
118
139
130
1?9
148
139
141
129
130
141
128
141
118
138
132
19Q
105
104
104
103
103
101
99
101
100
99
101
100
128
120
142
149
151
125
137
163
150
231
168
220
130
122
144
155
154
133
146
181
170
266
198
261
102
102
101
104
103
106
106
111
113
115
118
118
105
102
116
124
124
113
115
117
112
120
112
135
109
106
124
134
137
127
129
134
129
143
135
165
104
1 03
107
10*
111
112
112
114
IIP
11C
12C
122
152
150
204
216
162
199
210
207
224
239
224
256
195
197
259
291
220
264
268
286
298
326
320
359
128
131
127
134
136
133
128
138
133
136
143
140
101
93
96
83
68
75
75
69
72
82
69
146
125
117
123
109
91
98
102
90
96
109
91
199
123
12f
128
131
135
131
For footnotes see p. 28.
Unit
value
Quantity
27
i:*r
132
133
133
132
136
SURVEY OF CURRENT BUSINESS
28
Julv 1951
!
Foreign Trade Indexes: Revised Data for Page S-21 —Continued
[1936-38 average=100]
Exports of United States
merchandise
Period
1943: January..
February
March
April
May
June.
July
August
September
October
November ___
December
Quantity
Value
212
210
281
273
306
275
352
347
366
350
295
349
304
295
401
402
445
409
516
521
514
504
435
523
292
285
309
313
364
320
298
282
283
267
277
222
__ . _ _
. _
__
1944: January.- ...
February
MarchApril
May
June.
.
July
August.
September
October
November.. _ ___
December _
___
1945: January..
February ._
March
__ .
April _
May
June
July
August.
September
October
November
December
_
_
1946: January
February
March
April
May
June _ —
July
...
August
September.. _ _ _
October
November _
December
__ _
Unit
value
Imports
Exports of United States
merchandise
2
!
Period
Quantity
Value
143
140
143
147
145
149
146
150
140
144
147
150
89
88
95
93
99
100
100
105
97
106
99
91
121
120
129
130
140
141
144
151
140
155
148
136
136
136
135
140
141
141
144
144
144
146
150
149
458
450
487
501
593
528
488
486
487
467
483
381
157
158
158
160
163
165
164
172
172
175
175
172
101
100
115
114
119
103
92
97
91
106
105
108
149
149
175
175
182
158
141
146
136
162
159
163
208
206
240
237
269
205
209
178
138
123
171
202
368
360
417
405
459
348
352
294
205
181
251
292
176
175
174
171
171
170
168
165
148
147
147
144
112
107
114
111
113
106
109
110
103
107
98
86
214
177
214
197
218
225
207
223
158
130
232
255
319
266
323
303
335
352
331
353
257
217
397
445
149
150
151
154
154
157
160
158
163
167
171
174
120
94
112
117
113
107
121
113
104
104
123
126
Unit
value
Quantity
Value
179
181
183
187
191
191
191
197
194
195
198
203
134
102
101
107
105
107
102
94
109
118
102
124
262
208
212
237
223
230
218
200
232
247
219
275
195
203
210
223
213
214
213
212
212
210
215
223
444
441
463
456
447
412
414
403
376
416
335
535
203
207
203
202
203
202
205
201
198
198
196
196
121
122
135
109
114
127
116
122
120
124
115
145
272
283
315
258
267
295
277
291
288
295
274
343
225
232
234
236
234
233
238
238
240
238
238
237
228
220
252
251
237
240
200
197
203
195
192
214
448
424
483
477
445
450
365
359
369
347
342
384
197
193
191
190
188
188
183
182
182
178
178
179
119
115
131
114
116
117
102
115
117
125
134
133
282
270
304
257
260
258
224
250
258
273
289
289
237
236
233
226
224
222
220
218
220
218
215
217
168
176
198
186
193
202
178
172
200
195
209
221
300
310
349
325
335
355
315
308
368
366
396
431
178
176
176
175
173
176
177
179
184
188
189
195
138
129
143
123
141
143
143
162
157
170
152
152
304
288
322
280
319
332
342
399
404
446
411
418
220
223
225
227
226
232
240
247
257
263
271
276
Unit
value
Quantity
Value
1947' January
February
March
April
May
June
July
August
September
October
November
December
269
268
306
295
320
281
269
262
249
270
243
235
481
484
558
551
611
536
514
515
482
528
483
477
148
150
152
153
154
153
153
151
151
152
151
151
1948: January
February
March
April
May
June
Julv
August
September
October
November
December
218
213
228
225
221
204
202
200
190
210
171
274
173
163
179
174
177
166
169
173
161
168
153
136
155
151
157
156
156
156
156
158
157
158
157
158
1949: January
February
March
April
May
June
July
August
September
October
November..
December
195
153
184
193
189
180
206
202
184
194
229
239
162
163
165
165
166
168
171
179
178
186
187
190
1950: January
February
March
April
May
June
July
August
September.October
November-..
December
_.
_. _
_ _ _ _ _ _ _ _
1 Compiled by the 17. S. Department of Commerce, Office of International Tirade, from statistics of the Bureau of the Census.
formerly
used); no change was made in the basic data.
2
General imports through 1933 and imports for consumption thereafter.
January.
February.. _
March
April
May
June
July _.._
August
September _ , _ _
October
November
December. _,
1919
___
. _
_
_
__ _
___
Monthly average
Month
Januarv . _ _
February
March
April- _
May
Juno
July
AugustSeptember
October
November^December
_
_
.
.
_ _
Monthly average
1
_ _ _ _ _ _ _
__ . _ _ ._
i
1920
1921
1922
Unit
value
Revisions reflect a change in the index base (1923-25=100.
Manufacturing Production-Worker Weekly Payroll Index, Unadjusted: Revised Series for Page S-12
[1939=100]
Month
2
Imports
1923
1924
1925
1926
1927
1928
1929
1930
1931
1
1932
1933
1934
99.5
94.7
95.4
94.5
95.6
98 3
126. 2
124.5
133. 0
129.7
130.4
131 9
85.5
84.9
85.9
83.6
82.1
80.1
73.8
76.9
78.9
78.0
81.6
84.8
99.5
103.7
108.8
110.1
113.8
113.6
104.9
110.8
110.8
108.2
103.5
97.5
101.8
107.1
109.0
106. 5
107.6
105.2
107.7
112. 1
113.7
111.2
109.8
110.0
104.6
111.2
113. 0
111.4
111.2
109.4
102.4
108.1
109.8
107.4
108.5
108.9
110.1
117.5
119.9
121.0
121. 3
119.5
102.3
105.6
105.7
104.5
101.9
98.4
74.5
78.9
80.5
79.1
78.0
74.0
57.2
58.7
56.7
52.5
49.5
46.2
42.7
43.9
40.6
42.8
47.1
52.1
59.4
66.5
71.1
73.6
73.7
71.3
101.4
107.8
112.7
109.8
114.3
122.3
127.2
127.9
126.1
121.3
111.4
101.2
76.0
78.1
77.7
76.3
75.2
77.0
85.1
89.1
92.3
94.1
97.8
100.2
109.1
109.4
110.1
112.3
110.2
108.9
90.5
94.5
98.0
100.3
98.7
103.5
103.3
106.2
105.4
111.7
111.4
111.9
105. 5
110.1
111.4
114.6
110.6
109.8
105. 1
108.7
108.2
108.9
104.9
106.1
106.3
111.0
112.6
116.2
112.6
113.4
115.1
120.3
121.4
120.6
111.2
107.3
90.1
88.9
89.9
87.9
81.9
79.9
70.5
70.3
67.6
65.5
6,1.8
61.2
42.8
43.8
46.6
48.5
46.2
44.9
55.8
62.1
64.9
64.7
60.6
59.9
66.4
68.9
64.4
67.7
66.1
70.1
103. 9
124 2
80.2
86.0
109.1
101.8
107.3
110.5
108.5
109.8
117.1
94.8
71.8
49.5
53.1
68.3
1935
1936
1939
1940
1941
1942
1943
1944
1945
349.5
345. 9
305. 2
313. 9
321.1
1937
1938
297.0
71.5
77.0
78.8
79.0
76.1
74.1
81.7
81.3
85.6
87.7
89.2
89.5
100.5
106. 2
112.3
116. 3
116.7
114.1
80.8
83.4
83.7
81.0
79.4
77.3
91.0
93.9
96.1
93.7
93.7
95.3
106.9
106.4
107. 3
104.7
105.1
106. 8
130.6
138. 0
143. 6
148.3
158.5
167.8
197.8
205. 6
212.8
219.1
226. 9
233.1
73.2
78.5
81 5
84.3
83.4
85 5
88.8
92.8
92 7
98.8
100.3
105. 4
111.6
115.4
111.6
111.8
99.6
90.5
77.5
84.3
89.1
92.1
92.5
95.6
93.5
100.0
105. 0
112.9
112.0
112.9
105.9
114.6
121. 1
125. 8
126. 1
132. 2
168.7
176.4
182. 5
187.4
186. 3
191.5
240.4
332.9
253. 6
262. 4
291.7
341.0
347.1
351. 9
356. 7
347. 5
78. 6
91.1
108.9
84.7
100. 0
113. 6
164.9
241.5
331.1
272.6
282.5
326.3
332.7
350. 3
3,47.7
342. 5
343.0
344.4
337.9
346.0
343.8
336.9
.
1946
1947
1948
1949
236.8
312.8
314.4
317.3
314.6
315.1
348.1
345.9
340.4
332.8
329.2
330.0
319. 2
312. 8
315.7
337.2
348.0
362.7
312.8
323. 0
335.1
367.5
394.4
403.2
218. 3
242. 3
323. 6
259.0
257.8
268.0
306.0
274.0
272.3
320.7
322.0
316.4
342. 3
231. 3
230. 3
345. 3
233. 8
229.2
300.1
303. 7
312.1
326.5
339.6
342.5
345.6
355.8
343. 7
293.5
271.7
326.9
341. 5
340.2
340.0
291.1
298.6
343.8
346.6
334. 9
334.4
345.6
346.5
360.1
366.8
366.7
362.8
360.7
320.9
351.4
325. 3
313.9
329. 3
1950
333. 5
415.8
414. fi
426.0
371.7
Compiled by the U. S. Department of Labor, Bureau of Labor Statistics. Data are based on reports from cooperating establishments covering both full- arid part-time production
and related workers who worked during, or received pay for, the pay period ending nearest the 15th of the month. The data have been adjusted to bench-mark levels indicated by
social-insurance-agency data through 1947. Comparable annual data for 1909 and 1914, compiled by the U. S. Bureau of the Census, are 33.9 and 40.1, respectively.
BUSINESS STATISTICS
JL HE DATA here are a continuation of the statistics published in the 1949 Statistical Supplement to the SURVEY OF CURRENT BUSINESS.
That volume (price $1.25) contains monthly data for the years 1945 to 1948, and monthly averages for earlier years back to 1935 insofar as available; it also provides a description of each series and references to sources of monthly figures prior to 1945. Series added or revised since publication of the 1949 Supplement are indicated by an asterisk (*) and a dagger (|), respectively, the accompanying footnote indicating where historical
data and a descriptive note may be found. The terms "unadjusted" and "adjusted" used to designate index numbers and dollar values refer to
adjustment of monthly figures for seasonal variation.
Data subsequent to May 1951 for selected series will be found in the Weekly Supplement to the SURVEY.
Unless otherwise stated, statistics through
1948 and descriptive notes are shown in the
1949 Statistical Supplement to the Survey
1951
1950
May
June
July
August
September
October
November
December
January
February
March
April
May
GENERAL BUSINESS INDICATORS
NATIONAL INCOME AND PRODUCTf
Seasonally adjusted quarterly totals at annual rates:
National income, total
bil. of dol
Compensation of employees, total
do
Wages and salaries, total
do
Private
_ do
Military
do
Government civilian
__ do
Supplements to wages and salaries
do
Proprietors' and rental income, total cT do
Business and professional d"
do
Farm__ _
do
Rental income of persons
do
Corporate profits and inventory valuation adjustment, total..
bil. of dol
Corporate profits before tax, total
do
Corporate profits tax liability
do
Corporate profits after tax_
_ __ _ do
Inventory valuation adjustment
do
Net interest.-- _ __ _
_ do.
r
' 245. 8
'157.3
' 149. 7
' 127. 2
5.0
17.5
' 7.7
'45 6
230. 6
'T 148. 6
141.3
r
120. 1
269 4
' 172. 1
' 163. 6
' 137. 1
' 14. 3
'8.1
' 260. 1
' 165. 2
' 157 2
'132.7
6 6
17.9
'7 9
' 47 2
' 23. 0
' 15. 8
'8 4
'34.8
' 37. 5
' 16.9
'20.6
' -2.7
'5.3
'37.4
' 45 7
'20.5
^25. 2
-8.3
'5.5
42.2
' 50 3
••22 5
'27.8
' —8 2
' 5.6
42.9
51 8
28 5
23 3
—8 9
'5.6
Gross national product, total
do
Personal consumption expenditures, total do
Durable goods .
. do_ __
Nondurable goods .
do
Services
do
Gross private domestic in vestment. __
do
New construction
do
Producers' durable equipment-. __. do
Change in business inventories
do..
Net foreign investment _
_ __ . do.
Government purchases of goods and services,
total
_
_ bil. of dol
Federal (less Government sales)
do
State and local.
. .do
' 275. 0
' 188. 7
'26.6
' 100. 4
'61.6
'47.9
'21.4
'21.4
'5.2
' -1.6
' 287. 4
' 202. 5
' 34. 3
' r105. 5
62 7
'47.3
'23 5
'24.5
' -.7
' -3.2
'303 7
' 198 4
'29.4
' 104 9
' 64 0
60 2
'23 3
'25.0
' 11.8
' -2.7
' 318 5
' 208 2
'31 5
T
111 5
'65.2
' 59 6
' 23. 9
'26 5
'9 3
' 2.3
'40.1
'20.9
'19.2
'40.8
' 21 2
' 19.7
'47.8
'27 3
'20 4
' 52.9
'31.9
'21.1
Personal income, total
do_ .
Less: Personal tax and nontax payments do
Equals: Disposable personal income, _ _ do
Personal saving§
_
_ do
'217.1
19.5
' 197. 5
'8.9
' 238 3
'23 1
' 215 2
r 244 1
'26.6
4.5
'16.8
r
7. 4
r
41 8
'21.9
' 12.2
' 7.8
r 23. 2
' 227. 3
'20 2
' 207. 1
'4.6
'8 5
'24.1
' 16 4
'8 3
r
r 217 5
r 16 g
'9.3
PERSONAL INCOME, BY SOURCEf
Seasonally adjusted, at annual rates:
Total personal income
bil. of dol
Wage and salary receipts, total.
do Employer disbursements, total
do
Commodity-producing industries
do
Distributive industries __ _.
do
Service industries
do
Government
do
Less employee contributions for social insurance
bil. of dol
Other labor income
.
. __ ._
do_.
Proprietors' and rental income
do
Personal interest income and dividends___do
Total transfer payments.
_ __ do
Total noiiagricultural income
do
' 222. 7
' 143. 2
' 146. 1
'63.9
'41.9
'18.8
'21.5
' 227. 7
'•61. 3
'40.4
18.5
21.0
' 219. 0
' 141. 1
' 144. 1
'62.8
'41.3
'18.7
'21.3
'2.9
'3.5
'42.4
'18.4
r
14. 3
3.0
'3.5
'42.5
'18.4
'13.5
'2.9
' 3. 6
'45.3
' 18.4
'12.2
'3.1
'3.6
46.1
'18.9
'11.9
' 199. 9
' 202. 6
' 216. 9
r 138. 3
r 141. 2
' 204. 0
r 147. 2
' 150. 3
' 66. 2
'42.8
'18.9
22.4
' 208. 6
' 234. 1
' 152. 4
' 155. 6
'69.3
' 43. 1
'19.3
'23.9
' 236. 4
' 157. 3
'69.9
' 43. 2
'19.5
'24.7
' 244. 4
' 155. 9
' 158. 9
'70.8
'43.6
'19.6
'24.9
' 243. 6
' 158. 0
'161.6
' 71. 7
'44.3
19.9
'25.7
' 243. 3
' 160. 0
' 163. 4
'72.4
'44.5
19.8
'26.7
' 245. 5
' 162. 2
' 165. 9
'73.7
'44.9
20.0
'27.3
' 249. 0
' 164. 8
' 168. 2
'75.0
'45.3
'20.1
'27.8
249.5
164.1
167. 8
74.4
45.0
20.2
28.2
'2.9
'3.6
'45.3
' 21. 6
'11.3
'3.2
'3.6
'46.3
'19.7
12.1
'3.1
'3.7
'47.2
'19.5
11.8
'3.0
'3.7
'48.1
'25.0
'11.7
'3.6
'3.7
'50.5
'18.8
'12.6
'3.4
'3.8
'48.2
'19.2
12.1
'3.7
'3.8
'47.7
'19.7
12.1
'3.4
'3.8
'48.1
'20.2
12.1
3.7
3.8
48.7
20.2
12.7
' 212. 9
'214.3
' 215. 5
' 223. 4
' 221. 4
' 222. 9
' 225. 2
' 227. 8
228.1
' 231. 5
' 149. 7
' 152. 6
'67. 1
'42.8
'19. 1
'23.6
r 154. 2
NEW PLANT AND EQUIPMENT
EXPENDITURES
1
All industries, quarterly total - _ _ _ mil. of dol
4,330
4,700
5,830
' 5, 160
6, 420
1
Manufacturing, .
do.
1,860
2,050
2 790
' 2, 460
3,
240
1
Mining
do
160
180
200
'180
220
Railroad
_ _____
_ do_
300
290
320
'300
M40
1
Other transportation
do
90
120
140
'120
140
Electric and gas utilities
do
760
820
940
'750
*950
1
Commercial and miscellaneous
do. _
1,160
1,240
1,440
' 1, 340
1. 420
' Revised.
1 Estimates for April-June 1951, based on anticipated capital expenditures of business.
|Revised series. Quarterly estimates of national income, gross national product, and personal income and monthly estimates of personal income have been revised beginning 1948; for
these revisions and for earlier revisions (covering data for 1946-47), see tables 41, 43, 45, and 48 in part V of the National Income Supplement to the SURVEY, July 1951
cf Includes inventory valuation adjustment.
§Personal saving is excess of disposable income over personal consumption expenditures shown as a component of gross national product above.
S-l
SURVEY OF CURRENT BUSINESS
S-2
Unless otherwise stated, statistics through
1948 and descriptive notes are shown in the
1949 Statistical Supplement to the Survey
July 1951
1951
1930
May
June
July
August
September
October
November
Decem- January
ber
February
March
April
May
GENERAL BUSINESS INDICATORS—Continued
FARM INCOME AND MARKETINGS
Cash receipts from farming, including Government
payments, total t
mil. ofdol Farm marketings and CCC loans, total
do_ Crops
do
Livestock and products, total
do
Dairy products _
_ _ __
_do
Meat animals
do
Poultry and eggs
do
Indexes of cash receipts from marketings and CCC
loans, unadjusted :t
All commodities1935-39=100-.
Crops
_ do -_
Livestock and products
do
Indexes of volume of farm marketings, unadjusted:!
All commodities
1935-39=100
Crops
do
Livestock and products
_ __do _ -
368
667
203
2,356
2,343
1,058
1,285
351
701
214
'276
155
••367
275
195
335
353
371
339
383
414
359
437
509
384
538
715
405
484
608
391
402
426
384
••119
61
120
77
153
143
144
142
154
170
142
167
194
147
201
259
158
172
192
157
149
146
151
'139
'163
1935-39=100
195
200
198
212
216
220
215
_ _ do
203
209
207
221
224
229
226
232
226
162
175
155
258
197
192
208
238
231
166
178
160
262
206
202
218
237
228
161
174
155
265
202
199
207
249
236
177
192
170
279
212
212
212
253
245
179
196
170
283
216
219
209
263
253
176
198
165
303
223
225
217
' 1, 878
1,837
1,859
1,825
' 1, 393
'368
'776
'215
1,268
444
557
2, 551
2, 543
1,182
1,361 !
323
792
229
305
883
248
3,584
3, 572
2,038
1, 534
301
950
268
3,277
3,261
1,781
1,480
276
870
319
2,692
2, 672
1,216
1,456
282
827
329
2,913
2, 906
1, 452
1, 454
' 2. 539
' 2, 510
' 1, 496
' 2, 137
' 2, 088
'465
' 1, 623
'275
'288
P 2, 153
P 2, 120
P436
P 1, 684
P438
P871
P309
'281
' 195
'346
'303
'393
'313
'163
'427
P319
P 153
P444
'149
104
79
123
111
71
141
113
61
152
115
53
163
216
216
'217
219
'221
P223
227
226
228
'231
'232
"233
260
246
168
197
153
311
226
228
221
266
253
158
195
140
321
227
230
219
264
255
153
190
134
268
252
154
193
134
'276
'262
'278
'322
'328
'217
'215
'334
'210
'203
225
225
P278
P263
P168
P 175
P165
P334
P211
P206
P224
'221
232
207
180
269
'244
'183
965
' 1, 545
324
'995
215
'378
338
'408
126
' 1, 899
' 1, 873
557
'1,316
317
'769
'220
' 2, 071
' 2, 019
523
366
834
183
368
930
INDUSTRIAL PRODUCTION
Federal Reserve Index
Unadjusted, combined index
Manufactures
__ _
Durable manufactures
do_ _
Iron and steel
do
Lumber and products _
do
Furniture
do
Lumber
_
- do
Machinery
-do
N on ferrous metals and products
do
Fabricating
_
_ _ _. do
Smelting and refining
do
224
226
220
222
160
196
141
264
'170
'186
'161
'335
'211
'205
Stone clay, and glass products
Cement
_ _
Clay products
Glass containers _
_ _ _ _
Transportation equipment. . _
Automobiles (incl. parts)
_ do
do _ _
do
__do
do__ do
209
221
160
238
262
249
212
229
160
232
277
268
214
229
162
234
272
262
221
242
172
223
287
273
223
239
175
229
284
265
240
249
177
269
291
271
233
231
182
250
278
249
227
211
178
246
292
260
223
193
178
251
285
246
'176
'304
r
262
'314
'266
'308
'253
Nondurable manufactures
Alcoholic beverages . _ __
Chemical products
Industrial chemicals
__ _
ILeather and products
Leather tanning
Shoes
Manufactured food products _
Dairy products
Meat packing _
_
Processed fruits and vegetables
do _
do
do
-do _
do
do
do
do ...
do
do
do
180
177
255
443
101
94
106
157
199
144
98
184
202
258
451
104
100
107
164
226
146
122
182
219
259
453
99
87
107
178
223
141
191
198
237
265
458
119
106
128
191
217
134
254
201
217
272
465
123
109
133
192
173
152
276
201
205
282
488
115
107
121
175
132
158
190
197
195
284
497
111
111
110
164
103
184
137
196
189
288
504
107
106
109
162
99
203
111
196
211
288
506
116
108
121
155
90
193
105
196
198
291
510
125
120
128
149
101
142
100
194
185
296
524
118
'297
'530
do
do
do
do
do __
do
do
do
do
do __
do
181
173
216
175
169
213
175
140
347
157
168
185
178
222
177
169
221
173
132
348
161
176
172
166
229
176
150
222
165
123
361
134
160
191
181
238
176
161
236
189
155
366
172
204
194
184
243
178
172
244
191
152
380
171
181
202
193
251
183
183
250
197
162
374
180
170
201
191
253
178
182
250
193
158
381
164
174
197
188
263
182
179
251
194
158
397
160
142
203
192
272
187
164
244
194
163
392
156
177
208
198
269
183
176
235
194
174
390
144
170
'179
'240
161
'185
'188
'237
'185
153
'380
147
167
do
d o ___
_ __do
do
do
do
147
148
97
131
160
140
155
155
96
136
168
155
149
148
68
109
171
158
163
162
97
142
177
170
168
167
92
144
184
171
169
170
102
151
184
161
159
165
84
138
184
124
153
163
80
143
178
93
159
169
96
151
184
94
153
163
89
125
185
94
153
163
48
127
189
92
162
'167
64
133
'191
'130
P167
p 167
81
126
P192
P168
Paper and products
_ _
Paper and pulp
Petroleum and coal products _
Coke
Printing and publishing _
__ _
Rubber products
Textiles and products
Cotton consumption
_
__
Rayon deliveries
Wool textiles
Tobacco products
_ _
Minerals
Fuels _ _ _ _
Anthracite
Bituminous coal
Crude petroleum _
Metals
Adjusted, combined indexcf
Manufactures
Durable manufactures
Lumber and products
Lumber
Nonferrous metals
Smelting and refining
Stone, clay, and glass products
Cement
Clay products
Glass containers
186
253
'104
127
231
292
195
175
106
98
112
P242
242
P184
257
P309
"250
P 196
180
P297
P536
'149
'153
120
147
97
'150
'102
P159
196
P149
P 105
'214
P213
208
198
269
184
188
175
374
'133
153
204
256
P265
186
P181
P237
P187
164
378
172
195
199
196
209
211
216
215
218
221
221
r223
'223
P223
_ _ do
204
209
206
218
220
225
224
229
231
232
234
'234
P233
_ _ do_ __
_ __ -do__ _
do
do __
do
do
do
do
do
231
158
149
197
208
203
210
160
223
237
155
144
207
219
210
214
161
234
235
151
140
202
208
212
208
161
244
247
165
151
212
212
212
214
167
215
251
166
150
216
209
215
206
169
225
261
166
150
223
217
229
214
168
262
260
169
155
226
221
227
214
175
247
268
173
162
227
218
235
232
173
265
268
171
162
224
219
236
238
271
169
156
277
169
156
'217
'210
'277
'170
' 162
'211
225
247
243
189
292
P276
v 164
"158
P211
P223
P236
do_ __
'191
257
222
237
245
r
!86
261
225
242
252
'189
269
P 185
275
195
194
181
195
201
196
197
'201
181
W4
Nondurable manufactures
do
199
'198
199
206
248
203
182
184
207
248
208
225
172
187
Alcoholic beverages
do
207
179
263
269
271
261
280
284
277
256
287
288
292
Chemical products
_ do
'295
P297
120
124
105
101
115
109
115
101
108
122
Leather and products
do
118
106
P 103
108
91
111
102
106
108
106
95
112
107
Leather tanning
do
105
98
r
168
167
162
164
167
165
161
164
168
'166
Manufactured food products
do
'168
!68
P166
152
150
148
143
145
153
142
141
142
150
Dairy products .
_
do
146
147
148
151
155
165
168
144
147
162
158
171
148
Meat packing
do
159
' 163
P 149
134
••142
149
147
158
142
161
147
150
Processed fruits and vegetables
do. ._ 1
'158
'167
P162
176
'Revised.
p Preliminary.
JData for 1947-49 were revised to incorporate changes in reports on production and sales of farm products. Revised figures for 1947 appear on p. 23 of the April 1950 SURVEY; those for
1948-49, on p. 24 of the January 1951 issue.
cTSeasonal factors for a number of industries were fixed at 100 during 1939-42; data for these industries are shown only in the unadjusted series.
SURVEY OF CURRENT BUSINESS
July
Unless otherwise stated, statistics through
1948 and descriptive notes are shown in the
1949 Statistical Supplement to the Survey
S-3
1951
1950
May
June
July
August
September
October
November
December
January
February
March
April
May
GENERAL BUSINESS INDICATORS—Continued
INDUSTRIAL PRODUCTION—Continued
Adjusted cf — Continued
Manufactures — Continued
Nondurable manufactures— Continued
Paper and products __
1935-39=100 _
Paper and pulp
do
Printing and publishing _ __
do __
Tobacco products
do _ .
Minerals^
Metals
_ _
do
do
185
177
170
170
173
166
162
154
145
125
151
130
144
124
38.7
19.3
39.9
19.8
42.0
20.3
10.7
10.8
11.6
180
173
166
168
194
185
172
172
202
193
179
165
201
191
174
171
197
189
175
153
204
192
170
177
207
197
177
179
159
136
163
141
166
141
160
130
157
126
164
130
158
131
'127
45.3
23.0
10.1
12.9
42.1
21.2
41.8
21.2
9.4
9.7
'41.3
21.1
42.5
21.3
11.8
11.6
11.4
11.5
46.7
23.2
10.4
12.8
10.2
45.4
22.6
10.3
12.3
45.2
23.4
11.0
12.4
191
181
169
197
'214
P213
' 198
176
' 183
P178
170
177
172
158
164
141
p 165
P153
'43.5
'22.4
10.5
r
11.9
'9.1
45. 3
23.7
11. 1
12. 6
208
204
r
BUSINESS SALES AND INVENTORIES§
Business sales (adjusted), total t
bil. of dol
Manufacturing, total t -do _
Durable-goods industries!
_ _do _
Nondurable-goods industries!
do
Wholesale trade, total
_ _do
Durable-goods establishments. ,
do
Nondurable-goods establishments
do
Retail trade, total_ _
do
Durable-goods stores
do
Nondurable-goods stores
_
do. _
Business inventories, book value, end of month
(adjusted) totalf
bil. of dol
Manufacturing, total t_do .
Durable-goods industries!
do
Nondurable-goods industries!
-- do
Wholesale trade, total
do
Durable-goods establishments
. do
Nondurable-goods establishments
do
Retail trade, total
do
Durable-goods stores
do_ _
Nondurable-goods stores
do
8.6
8.0
2.1
5.9
9.0
8.4
2.3
6.1
8.7
9.0
2.6
6.5
11.3
11.7
12.7
4.2
7.5
4.7
8.0
53.6
29.7
13.8
15.9
54.2
30.0
13.9
16.1
53.2
29.8
13.9
15.9
14.7
14.1
3.9
7.4
9.5
3.2
6.3
14.4
5.4
9.0
9.5
3.3
6.2
9.3
3.2
6.1
5.6
9.1
5.1
9.0
9.6
2.9
6.7
8.9
2.6
6.3
8.8
2.5
6.3
11.8
9.7
8.8
2.4
6.4
12.1
4.7
8.0
4.4
7.7
4.2
7.6
54.5
29.9
13.9
16.0
56.4
30.7
14.1
16.7
58.7
31.8
14.4
17.3
10.2
60.3
33.0
15.1
17.9
10.5
15.1
15.8
16.7
5.5
9.6
10.0
9.9
3.1
6.8
5.8
9.0
2.5
6.5
11.4
12.7
9.6
3.0
6.5
9.8
12.2
2.9
7.3
13.3
9.6
2.7
6.9
13.1
9.5
2.7
4.0
8.0
4.0
8.1
66.5
36.4
17.0
19.4
11.4
'68.5
' 37.8
17.6
' 20.2
11.7
69.9
38.8
18.3
20.6
12.0
4.8
8.5
61.6
34.1
15.8
18.3
10.8
63.4
34.9
16.2
18.7
11.0
16.8
16.8
17.4
17.8
18.6
10.2
10.2
10.1
10.6
10.9
11.1
3.3
6.9
6.5
3.5
7.0
3.6
7.2
6.6
6.6
3.8
7.3
6.8
4.7
8.4
64.4
35.5
16.7
18.8
11.1
'3.9
7.3
6.9
9.5
2.5
7.0
'6.6
12.0
4.1
8.1
3.7
7.7
2.5
' 6.8
12.3
4.2
8.1
4.3
7.4
4.0
7.4
'19.0
'7.8
11.2
7.6
12.1
4.5
7.5
19.1
7.9
11.2
MANUFACTURERS' SA LES, INVENTORIES,
AND ORDERS!
Sales:
Value (unadjusted), total
Durable-goods industries _ _
Nondurable-goods industries
mil. of dol
_.do _ _
do
18, 649
8,413
10, 236
19, 426
9,007
10, 418
18, 682
7,951
10, 731
22, 802
9,929
12, 872
21,514
9,536
11, 979
22, 832
10, 339
12, 493
21, 256
9,586
11, 671
21, 763
10, 104
11, 659
22, 888
10, 174
12, 714
21, 808
9,891
11,917
24, 388
11, 597
12, 791
' 22, 423
' 10, 772
'11,651
22, 975
10, 877
12, 098
Value (adjusted), total
do
Durable-goods industries, total
do _ _
Iron, steel, and products
do
Nonferrous metals and products
_ .do
Electrical machinery and equipment. _ _ d o
Machinery, except electrical .
do _
Motor vehicles and equipment
do
Transportation equipment, n. e. s _ _do
Lumber and timber basic products
do
Furniture and finished lumber products-do
Stone, clay, and glass products. _ _ _ _ ..do _
Other durable-goods industries
do
19, 309
8,605
2,126
19, 838
9,030
2,191
20, 269
8,670
2,178
22, 956
10, 060
2,471
21, 154
9,392
2,345
21, 246
9,671
2,414
21, 112
9,730
2,448
21, 284
9,794
2,591
23, 168
10, 398
2,729
22, 646
10, 338
2,642
23, 399
10, 993
2,790
23, 733
11, 100
2,838
878
1,352
1,600
955
1,385
1,710
924
1,374
1,459
1,129
1,554
1,716
1,116
1,458
1,449
1,131
1,512
1,547
1,108
1,544
1,501
1,096
1,579
1,514
1,240
1,755
1,566
1,254
1,802
1,550
1,249
1,946
1,696
570
401
480
603
409
469
382
451
415
683
449
566
454
656
433
513
374
695
485
540
673
437
542
356
652
404
481
419
640
403
519
425
619
461
588
450
586
454
587
659
537
603
486
' 22, 389
' 10, 532
' 2,
703
r
594
' 1, 158
' 1, 925
' 1, 508
'475
'674
'480
'538
'477
Nondurable-goods industries, total
do
Food and kindred products
do _
Beverages
do
Tobacco manufactures
..do ._
Textile-mill products
do
Apparel and related products
_ .do _
Leather and products
do
Paper and allied products
do ._
Printing and publishing _
_
do _
Chemicals and allied products
- _ .do .
Petroleum and coal products
do
Rubber products .
_-do_.
Other nondurable-goods industries
do
10, 704
3, 150
10, 809
3,136
11, 599
3,245
12, 896
3,257
11, 762
3,038
11, 574
2,972
11,382
2,949
11, 490
3,147
12, 768
3,559
12, 309
3,297
12, 406
3, 331
' 11, 857
' 3, 226
12, 634
3,694
1,012
1,062
1,206
1,544
1,256
1,354
1,293
955
335
620
633
976
324
656
581
1,290
1,264
1, 426
1,407
1,371
1,667
1 859
1, 583
1 853
1,550
1, 834
Inventories, end of month:
Book value (unadjusted), total
Durable-goods industries
Nondurable-goods industries _
By stages of fabrication:
Purchased materials
Goods in process
Finished goods
523
319
542
274
748
290
513
606
1,334
1, 624
321
290
566
310
582
277
663
317
538
602
1,383
1,668
350
558
315
573
287
962
349
528
596
1,442
1, 738
454
606
410
649
299
381
633
615
457
591
379
448
261
404
599
401
434
271
405
231
221
280
280
278
610
630
402
396
390
282
468
270
839
287
668
576
1,529
1 870
397
778
270
667
585
'
1,512
1 827
593
396
497
307
945
338
709
692
1,703
1 791
584
415
464
427
300
882
365
686
731
607
421
426
280
796
337
707
763
1,732
1 838
347
1,631
1 795
r 435
353
424
304
454
278
462
363
r 414
'280
' 1 270
'670
'284
'673
'
716
r
1, 631
'1
842
T
441
'311
585
1,270
2,021
1,588
496
717
496
624
464
490
296
1 415
663
269
699
732
1 731
1 853
350
do
do
do
29, 507
13, 883
15, 624
29, 814
13, 974
15, 840
29, 796
13, 928
15, 868
29, 742
13, 847
15, 894
30, 418
14, 050
16 368
31, 562
14, 386
17, 176
32, 904
14, 997
17 907
34, 207
15, 680
18 528
35, 278
16 218
19 060
35, 794
16 682
19' 112
36, 675
17 113
19 562
' 37, 787
'17 664
r 20 123
do
do
do
11, 092
6,851
11, 564
11, 201
6,828
11 785
11,510
6,998
11 287
11, 883
7, 163
10 696
12, 380
7 380
10 658
13, 062
7,668
10, 833
13 798
7 770
11 336
14 627
8 Oil
11 570
15 026
8 563
11 689
15 079
8 976
11 739
15 298
9 375
12 00°
r 15 491
T 9 §04
15 732
9 g24
r 1 9 dQ9
1 '} 99^i
29, 659
13, 784
3,056
962
1,614
3,208
1, 833
659
569
671
536
30, 028
13 946
3,140
988
1,658
3 225
1, 793
653
588
678
538
29, 830
13 888
3,147
973
1,633
3 208
1,803
660
576
675
542
29, 858
13 858
3,191
965
1,630
3 228
1,773
663
550
664
534
30 732
14 072
3,228
959
1 632
3 283
1 839
672
560
677
530
31, 770
14 446
3,308
971
1,666
3 368
1 935
687
572
685
541
33 007
15 119
3,404
992
1 751
3 519
2 111
'754
583
729
550
34 061
15 782
3,431
1 030
1 902
3 678
2 191
835
628
764
581
34 928
16 248
3, 458
1 012
1 968
3 801
2 263
950
631
798
600
7f>7
35 474
16 660
3, 532
1 016
2 032
3 932
36 415
17 001
3,519
1 018
2 103
4 Af>0
' 37 849
38 828
18 274
3, 728
Book value (adjusted), total
do..
Durable-goods industries, total
do
Iron, steel, and products
do
Nonferrous metals and products
do
Electrical machinery and equipment-. _do
Machinery, except electrical
do
Motor vehicles and equipment.
_ _ do
Transportation equipment, n. e. s
do
Lumber and timber basic products
do
Furniture and finished lumber products. _do
Stone, clay, and glass products
do ..
Other durable-goods industries
do
675
685
671
661
692
713
727
743
o oqo
1,012
672
820
626
787
T 1 7 pni
r
3, 608
r 1 n'^1
9 90A
o qjo
9 9^fi
r
1,122
678
812
658
' 1,r 168
717
'837
7Q9
T fiSA
r 7Q7
38, 780
18 422
20 358
2 3° 9
2 007
1, 268
722
889
7n4
831
'Revised.
P Preliminary.
d"See note marked "c?" on p. S-2.
§Tho term "business" here includes only manufacturing and trade. Business inventories as shown on p. S-l cover data for all types of producers, both farm and nonfarm
fRevised series. Data on manufacturers' sales, inventories, and new orders have been revised beginning 1946. Revisions for 1946-49 and appropriate explanations
>ns appear on pp. 16-23 of
the October 1950 SURVEY.
SUKVEY OF CURRENT BUSINESS
S-4
July 1951
1951
1950
Unless otherwise stated, statistics through
1948 and descriptive notes are shown in the
1949 Statistical Supplement to the Survey
May
June
July
August
September
October
November
December
January
February
March
April
May
GENERAL BUSINESS INDICATORS—Continued
MANUFACTURERS' SALES, INVENTORIES,
AND ORDER Sf —Continued
Inventories, end of month— Continued
Book value (adjusted) — Continued
15, 874
Nondurable-goods industries, total- mil. of dol__
3,061
Food and kindred products
_ _ _ - d o __
1,012
Beverages
do
1,490
Tobacco manufactures _ _
_ _ _ do
2,148
Textile-mill products
do
1,328
Apparel and related products
„ do. _.
546
Leather and products
do
706
Paper and allied products
do
587
Printing and publishing
do_ _
2,014
Chemicals and allied products
do
2,018
Petroleum and coal products
do
540
Rubber products
do
422
Other nondurable-goods industries-. . do_ __
16, 082
3,042
993
1,482
2,244
1,407
557
704
611
2,034
2,018
544
448
15, 942
2,831
1,037
1,467
2,274
1,448
568
695
601
2,041
2,046
501
433
16, 000
2,820
1,048
1,562
2,285
1, 455
573
671
593
2,043
2,050
483
416
16,660
2,928
1,118
1,680
2,372
1,520
589
678
625
2,108
2,108
502
432
17,324
3,113
1,095
1,706
2,616
1,575
596
690
628
2.187
2, 162
524
432
17, 887
3,190
1, 145
1,717
2, 768
1.647
608
699
651
2,267
2,180
564
452
18, 279
3,285
1,130
1,718
2,838
1,808
601
734
659
2,327
2,169
549
461
18, 681
3,374
1,162
1,679
3,005
1,786
652
778
689
2,370
2,134
564
488
18, 814
3, 435
1,202
1,642
3,046
1,768
598
791
710
2,424
2. 133
557
507
19, 414
3,618
1, 262
1,658
3,110
1, 854
616
833
723
2, 505
2,164
556
514
r 20, 248
' 3, 928
New orders, net (unadjusted), total
_ do_ _ _
Durable-goods industries, total
do
Iron steel and products
do
Nonferrous metals and products
do_ _
Electrical machinery and equipment
do
Machinery, except electrical
do_ _
Transportation equipment, except motor
vehicles
mil. ofdol
Other durable-goods industries
do_ _
Nondurable-goods industries
do
19,097
8,514
2,178
531
884
1,410
20,666
9,814
2,493
557
1,035
1,527
22, 223
10, 553
2,724
637
934
1,764
27,323
13, 863
3,277
814
1,572
2,197
23,760
11,500
2,989
683
1, 423
1.948
24, 704
12, 171
2, 950
666
1,439
2,016
22, 371
10, 621
2. 63S
661
1,257
1,935
23,160
11,379
3,047
554
1,480
2,260
28,860
15, 123
3,517
658
1,527
2,641
25, 403
13, 153
3,014
602
1,601
2,819
28, 574
15, 478
3, 632
'696
1,780
2,982
«• 23, 927
' 12. 614
r
3, 156
'699
'1,413
' 2, 481
23, 797
11, 763
2,889
522
1,305
2,516
232
3,279
10, 582
543
3,660
10, 852
1,102
3,392
11,670
1,600
4,404
13, 460
692
3,765
12, 259
800
4,300
12, 533
483
3,646
11, 750
504
3,534
11, 781
2,395
4, 384
13, 738
r
1,076
4,040
12,250
1,970
4,418
13, 097
'836
' 4, 028
11, 313
1,036
3,495
12, 033
Unfilled orders (unadjusted), total*
do_ _
Durable-goods industries
do
Iron, steel, and products
_ do
Nonferrous metals and products
do_
Electrical machinery and equipment
do
Machinery except electrical
do
Transportation
equipment, except motor
vehicles
mil. of dol
Other durable-goods industries
do_ _
Nondurable-goods industries
do
22, 218
18, 763
5, 566
497
2,215
3,194
23, 458
19, 569
5,866
506
2,308
3,277
26, 998
22, 171
6,593
679
2,434
3,758
31, 519
26, 105
7,348
914
2,940
4,433
33, 764
28, 070
7, 923
1,006
3. 250
4,909
35, 636
29, 902
8, 286
1,029
3,477
5,363
36, 728
30. 914
8. 540
1. 031
3,594
5,818
38, 125
32, 190
8,990
915
3,850
6,389
44,097
37, 138
9,800
990
4,187
7,372
47, 691
40, 400
10, 322
1, 030
4,564
8,464
51, 878
44, 281
11,022
1,082
5,006
9,412
' 53, 383
' 46, 124
' T1M51
1 171
' 5, 235
r
9, 934
54, 204
47, 010
11, 535
1 118
5,333
10, 413
3,015
4,276
3,455
3,215
4,398
3,888
4,030
4,678
4,827
5,255
5,214
5,414
5,566
5,414
5,694
5, 971
5,776
5, 734
6,068
5,864
5.814
6,143
5,904
5,935
8,157
6,633
6,959
8,847
7,172
7,292
10, 354
7,404
7,597
' 10 696
' 7, 637
' 7 259
11 235
7, 377
7 194
r 1, 283
' 1, 682
' 3, 262
' 1, 893
'644
'873
'732
'2,617
' 2. 230
577
'538
r
20, 554
3, 853
1,267
1,711
3,381
1,918
662
890
742
2,694
2, 316
552
BUSINESS POPULATION
OPERATING BUSINESSES AND BUSINESS
TURN-OVER $
Operating businesses, total, end of quarter
Contract construction
Manufacturing
Service industries
Retail trade
Wholesale trade
All other
thous__
do
do
do
do
do
do
3, 986. 1
362.4
303.5
854. 4
1 686 2
203. 9
575. 8
3, 997. 7
366.9
303.3
856.2
1, 686. 4
204.8
579.9
p 3, 992. 9
p 368. 6
p302 1
v 855. 2
» 1, 678 3
» 205. 2
P 583 5
New businesses, quarterly total
Contract construction
Manufacturing
Service industries
Retail trade
Wholesale trade
All other
do
do
do
do
do
do
do
114.0
22.3
12.2
20.1
40.3
4.6
14.5
95.2
14.8
10.4
17.8
35.3
4 3
12 5
80.7
12 2
9.6
15 4
27.7
37
12 2
Discontinued businesses, quarterly total
Contract construction
M^anufacturin g
Service industries
Retail trade
\Vholesale trade
All other
do
do
do
do
do
do
do
96.4
10.4
11.2
20.1
40.0
3.9
10.7
83.6
10.3
10.5
16.0
35 1
33
8.4
P85. 5
v 10.5
p 10 8
v 16.4
p35. 9
*> 3 4
»8. 6
Business transfers, quarterly total
do
86. 7
88.2
67 0
BUSINESS INCORPORATIONS
New incorporations (48 States)*
9,216
8, 861
7,191
7,201
6,277
6,782
6,256
6,780
8,515
6,590
7,649
7,653
7,544
number-__do
do
do
do
do
874
62
80
197
426
109
725
67
61
167
363
67
694
62
65
151
343
73
787
51
91
173
402
70
648
43
75
147
314
69
707
64
91
150
339
63
683
67
87
150
310
69
679
67
62
143
330
77
775
63
97
132
410
73
599
59
60
107
304
69
732
69
83
115
377
88
693
52
81
119
365
76
755
64
94
128
385
84
thous of dol
do
do ._
_do__ _
do
. _ do
22, 672
1,474
2,129
7,470
8,650
2,949
18, 072
1,572
1,533
7,244
5,154
2,569
19, 538
1,495
1,619
8.533
5,251
2,640
18, 448
2,077
1,233
7,225
5, 685
2,228
15, 254
1,450
1, 303
5,855
4,775
1,871
16, 649
2,009
2, 410
5,949
4,683
1,598
18, 864
1,742
2,726
8,412
4,235
1,749
21, 044
3,205
4,748
5, 352
5, 479
2,260
21, 685
1,482
2,393
5, 175
10, 376
2,259
16,009
1,399
2,228
6,134
4,357
1,891
17, 652
1,375
3,292
5,169
5,605
2,211
17, 064
1, 055
2,268
5,894
5,647
2,200
23, 504
1,871
4,655
5,497
7,487
3,994
number _ _
INDUSTRIAL AND COMMERCIAL
FAILURES
Failures, total d"
Commercial service cf_
Construction
Manufacturing and mining
Retail trade
Wholesale trade _
Liabilities totaled
Commercial serviced1
Construction
Manufacturing and mining
Retail trade
Wholesale trade _
_
f
_
_
Revised.
f Preliminary.
fRevised series. See corresponding note on p. S-3.
*New series. For data on unfilled orders beginning 1946, see p. 22 of the October 1950 SURVEY. Data on new incorporations are compiled by Dun & Bradstreet, Inc.; they are available for
the 48 States beginning 1946, and for 47 States (excluding Louisiana) beginning July 1945; figures through 1948 are shown on p. 21 of the May 1950 SURVEY.
JThe number of operating businesses has been revised to reflect revisions in the number of new businesses beginning with the fourth quarter of 1947 and in the number of discontinued
businesses beginning with the fourth quarter of 1948. Revisions prior to the third quarter of 1949 will be shown later.
d"Data are from Dun & Bradstreet, Inc. Scattered monthly revisions for the indicated series are shown on p. S-4 of the February 1950 SURVEY.
SURVEY OF CURRENT BUSINESS
Juiv
Unless otherwise stated, statistics through
1948 and descriptive notes are shown in the
1949 Statistical Supplement to the Survey
S-5
19 50
May
June
July
August
1951
September
October
November
December
January
February
March
April
May
COMMODITY PRICES
PRICES RECEIVED AND PAID BY FARMERS
247
223
230
190
387
246
195
178
248
269
342
230
154
247
225
218
190
388
251
207
182
254
268
342
227
156
263
236
226
195
387
278
211
200
267
287
371
232
173
267
239
224
193
399
311
200
164
293
292
369
240
191
272
243
221
194
428
336
217
126
303
298
372
248
196
268
238
219
188
426
327
207
138
300
296
358
261
201
276
250
224
192
428
346
194
188
351
299
357
267
209
286
258
233
202
436
339
202
211
366
311
360
272
249
300
275
240
214
442
347
192
324
374
323
391
286
203
313
283
254
222
440
351
204
333
379
340
425
285
205
311
276
245
221
437
359
202
265
386
343
428
280
217
309
275
247
222
438
363
209
225
385
428
273
215
305
271
244
223
438
357
194
239
380
335
418
270
221
244
242
246
245
243
247
247
245
249
248
248
249
252
252
251
253
254
251
255
256
254
257
257
257
262
260
2(54
267
265
270
272
269
274
273
269
276
272
270
274
254
256
258
260
261
263
265
272
276
280
283
283
97
97
103
103
105
103
105
108
110
113
111
109
108
All commodities (U. S. Department of Commerce
index)
... 1935-39 = 100
185. 7
187.3
190.0
190.8
192.6
193.9
194.9
198.4
202. 4
204.9
205. 8
r 205. 7
206. 8
Coal (U. S. Department of Labor indexes) :
•\nthracite
Oct 1922-Sept 1925 = 100
Bituminous
do
147.2
160.9
147.4
160.2
150.3
160. 5
153. 9
162.4
155.8
164. 0
157.4
166. 6
158.6
167. 0
1 59. 7
167.3
160. 3
167. 9
168.3
168.7
170.0
168. 9
169. 1
168. 6
162. 9
165. 9
Consumers' price index (U. S. Dcpt. of Labor):©
All items©
1935-39 = 100
A pparel
do
Food
... _ _ _ d o _ _ . .
Cereals and bakery products
do
Dairy oroducts .
do
Fruits and vegetables
do
Meats, poultry, and fish ._
do
Fuel, electricity, and refrigeration.
do
Gas and electricity
do
Other fuels
_ __
do
Hotisefurnishings
do
Rent©
do ..
Miscellaneous
do
169. 3
184. 7
199.8
169.8
178. 3
202.2
240. 2
138. 8
96 9
187. 6
185.0
130. 6
1 55. 1
170.2
184. 6
203. 1
169. 8
177.8
209. 3
246. 5
139. 1
96.8
189.0
184.8
130. 9
154.6
172.0
184. 5
208. 2
171.5
180.7
211.5
255. 7
139. 4
96.9
189.9
186. 1
131.3
155.2
173.4
185. 7
209.9
175. 5
184.3
193. 4
260. 7
140. 2
96.8
192.9
189.1
131.6
1 56. 8
174.6
189.8
210.0
176.9
186.9
186. 0
261.0
141.2
96.9
196. 1
194.2
131.8
157.8
175.G
193. 0
210. 6
177.2
191.9
189.8
253. 3
142.0
96.8
199.2
198.7
132.0
158.3
176.4
194.3
210. 8
177. 6
192.8
195.7
250. 3
142. 5
96.8
200.8
201. 1
132.5
159. 2
178.8
195. 5
216.3
177.7
194. 0
203. 9
253.4
142.8
96.8
201.7
203. 2
132. 9
160. 6
181.5
198.5
221. 9
185. 4
202.6
214.1
263.6
143.3
97.2
202.3
207.4
133. 2
162. 1
183.8
202.0
226. 0
187.1
204.4
224.3
270.1
143.9
97.2
204.5
209.7
134.0
163.2
184.5
203.1
226. 2
187.5
204.6
217.1
272.2
144.2
97.2
205.0
210.7
134.7
164.3
184.6
203.0
225. 7
188. 3
204.1
214.8
272.6
144.0
96.9
205.0
211.8
135.1
164. 6
185.4
204. 0
227 4
188^2
203.5
221. 6
272.7
143. 6
97.3
202. 4
212 6
135. 4
165.0
155.9
157. 3
162,9
166. 4
169. 5
169.1
171.7
175.3
180.1
183.6
184.0
183.5
182.8
152. ]
166.3
145.8
164. 7
172.3
194.6
153.7
153.5
167.7
148.4
165.9
169. 3
197. 5
155.2
158.0
175.8
152. 9
176. 0
173. 5
215.8
159.8
161.2
179.1
r
159. 3
177.6
167.7
217.3
163.7
164.0
181.8
165.7
180.4
166. 5
211.3
166.9
163.5
180.2
169.3
177.8
165.3
198.7
166.9
165.1
184. 5
173.0
183. 7
172.1
197.3
168.8
' 169. 0
187.1
178.1
187.4
180.9
204.9
r
172. 4
173. 1
192.6
185.0
194. 2
186.6
222.2
176.7
175. 5
199.1
187.1
202.6
192.0
238.2
179.2
175.8
199.4
187.5
203.8
188.0
241.2
179.3
175. 9
197.7
187. 1
202. 5
189.1
240.9
179.0
176. 0
195'. 5
186. 5
199. 6
185. 6
234 8
178.9
159.9
146.0
138. 0
139. 2
217. 1
162.1
145.6
1-35. 9
140. 5
223.7
171.4
151.2
141.8
137. 0
240.7
174.6
154.9
148.0
132. 0
240.2
177.2
155. 5
154.7
131.0
241.0
172.5
153.8
160.8
129.5
223.7
175.2
154.1
164.1
140. 4
223.4
179.0
' 157. 6
164.4
138. 0
233.7
182.2
163. 0
171.5
136.1
242.7
187.6
166.3
173.0
142.4
255.2
186.6
164. 5
170. 3
139.9
254.5
185.7
164. 5
166.6
139. 3
255.1
187.2
163. 6
164. 9
145.9
257. 2
163.7
217 8
177.6
140.8
347.6
148.2
' 166. 7
221.4
' 179. 1
141.2
348. 4
154.9
170.3
226.1
180.7
147. 2
356.8
162.1
171.8
228.1
180.8
147.1
359.8
164.0
172.4
228. 5
180. 8
147. 1
361. 2
164.4
172. 2
228. 5
180.8
147. 2
361.0
164.7
171.5
227.8
180. 8
147 2
359. 0
163.7
139.6
136.1
175. 1
115. 6
180. 9
144.5
138.1
184.4
118. 1
200.4
147.3
139.0
185.2
118.1
217.3
146.4
138. 2
185. 1
118. 1
214.6
144.3
138.2
184. 5
117.8
198.7
142.8
138. 4
185. 2
117.1
186.4
135. 7
65. 7
90.2
118. 0
136.4
65. 7
90.0
119.4
138.1
66.4
92.2
119.4
138.6
65. 1
93.8
120.3
138.1
137.5
93.3
120.0
119.7
234.8
318.2
224.8
219.4
238.2
317. 8
229. 1
224.6
236.2
313. 0
229.2
222. 0
232. 6
297.8
228.7
222.1
232. 0
293. 8
228.2
222. 4
174.7
186. 2
162. 7
175.4
180. <
163. 2
178.8
193. 4
163.2
179.9
195. 5
163.2
179. 8
195. 5
Prices received, all farm productsf§--. 1910-14 = 100..
Crops
do
Food grains
do
Feed grains and hay
do
Tobacco
- do . _
Cotton
do
Fruit
..do...
Truck crops
do
Oil-bearing crops
do
Livestock and products
_.
. . -do. .
Meat animals
do
Dairy products
do
Poultry and eggs
do
Prices paid:f
All commodities
1910-14=100 .
Commodities used in living
do
Commodities used in production
do
All commodities, interest, taxes, and wage rates
1910-14 = 100-.
Parity ratiof 9
r
do
r
253
340
RETAIL PRICES
WHOLESALE PRICEScf
U. S. Department of Labor indexes:}:
All commodities
1926—100
Economic classes:
Manufactured products
do
Raw materials
do
Semimanufactured articles
do
Farm products
__
do
Grains
do
Livestock and poultry
do
Commodities other than farm products..do
Foods
Cereal products
Dairy products
Fruits and vegetables
Meats, poultry, and
_
fish
r
r
do
do
do
do
do
Commodities other than farm products and
foods
1926—100
Building materials. _
do
Brick and tile
do
Cement
_
do
Lumber
do
Paint and paint materials
do
147 6
198.1
163.9
134.9
310.8
136.8
Chemicals and allied products
do
Chemicals
do
Drugs and pharmaceutical materials _ do
Fertilizer materials
do_ _ . _
Oils and fats
. _
do
116.4
l!6. 3
122. 3
116.8
T
122. 3
Fuel and lighting materials
Electricity
Gas
_
Petroleum and products
T
_
Hides and leather products
Hides and skins
Leather
Shoes
do
do
do
do
do
do
do
do
r
131.9
66 6
87.2
112.6
181.0
194 4
179 3
185 0
r
r
r
r
!48 7
202.1
164. 3
134.9
322.6
137.7
114. 5
117. 1
122.7
108. 6
111.9
132. 6
67 0
87. 3
113.9
182.6
202 1
180 6
184.8
f
r
T
r
r
r
151. 6
207. 2
165.4
135. 3
338.0
138.6
T
155.5
213. 9
167. 9
135. 5
357. 6
142.4
r
r
118.1
119. 1
129. 1
110. 1
126. 0
122.5
121.9
135.0
112.1
r
142. 7
133. 5
67.0
88.3
115.5
'134.2
65. 5
88.1
116.8
r
187.2
219 8
185.3
185.8
r
Housefurnishing goods
do
146.6
148. 7
146.9
Furnishings,
do
154 1
154 2
156 2
Furniture
_ do
138.9
139.4
141.0
r
Revised.
fRevised series. Beginning with the February 1950 SURVEY, data have been revised
for 1910-48 are shown on p. 36 of July 1950 SURVEY.
159. 2
219. 7
170. 2
136. 3
371. 5
145.9
r
128. 7
125. 4
153.4
111.4
163.9
p
161.5
218.9
177. 2
140.2
358.4
145.7
p
132.2
131.6
161.1
111.2
160. 3
» 135. 7
134.3
163.8
112. 0
171. 5
135. 3
65.2
88.9
118.0
r
208. 6
266.3
201.3
f
200. 5
r
134. 9
65.6
89.0
117.8
r
195.6
238.2
192.3
191.4
203. 0
264.7
196.8
r
194. 9
T
153.9
162.8
144.6
159.2
168.1
149.9
163.8
173. 6
•• 153. 6
r
135. 7
65.5
90.5
118.1
r
211. 5 ' 218. 7
269.3
277.5
213.8
204.9
' 203. 7 r 209. 3
166.9
176.6
156. 7
' 170. 2
' 180. 6
159.2
r
r
r
T
162. y
(effective back to 1910) to reflect changes prescribed in the Agricultural Acts of 1948 and 1949; revisions
{Indexes for the latest 2 months are preliminary and are currently revised to incorporate corrections received in the 2 months following. Any additional corrections received are incorporated
in final annual summaries issued in the middle of the year. Indexes for June-December 1949 were corrected in the August 1950 SURVEY and for June-December 1948 in the August 1949 issue.
Corrected indexes for January-May 1948 and 1949 are available upon request.
SURVEY OF CURRENT BUSINESS
S-6
Unless otherwise stated, statistics through
1948 and descriptive notes are shown in the
1949 Statistical Supplement to the Survey
July 10r>l
1951
1950
May
Juno
September
July
October
November
December
January
February
March
April
M;v
COMMODITY PRICES—Continued
WHOLESALE PRICESd^—Continued
U. S. Department of Labor indexes:!— Continued
Commodities other than farm prod., etc. — Con.
Metals and metal products
1926 = 100.
iron and steel
_
_do _ .
Nonferrous metals
__
-do
Plumbing and heating
do
Textile products
Clothing
._
Cotton goods
Hosiery and underwear
Rayon and nylon
Silk
Woolen and worsted goods
_.
do _
___ do
do
_ do . . _ .
do
do
do
Miscellaneous
Tires and tubes
Paper and pulp
do
do _
do
1 76. 7
172.2
166. 1
166.9
178.6
173. 2
173.3
177.2
180.4
174.0
181.7
182.5
»• 184. 9
182. 1
182. 5
183. 6
187. 5
185. 7
187.9
183. 7
188.1
185. 7
191. 1
183.7
188.8
185.6
183. 5
183. 7
r
142. 6
144. 3
190.7
99 2
40 7
60. 3
150. 9
149. 5
145.2
206. 8
101.2
41 3
65. 6
157. 7
158.3
146.7
221.6
105. 3
41.7
64.9
178.7
ira. i
' 166. 8
151.4
231. 7
111.4
42.7
69 0
' 192. 7
' 171.4
155.4
* 236 6
113. 7
43 0
75 0
r
195. 6
178.2
161.6
239 2
1 1 5. 2
43 1
86 1
217. 4
181.1
163.9
240. 5
113. 8
43 1
90 8
227. 3
183.2
163.9
239. 9
r
147. 7
225 7
109.2
42 5
65. 3
' 189. 1
* 113. 5
119.0
68. 7
r 159. 8
124.3
75.0
163. 9
127.4
77.4
167. 1
131. 3
78.1
173.4
137. 6
82. 3
178.7
140. 5
82. 5
189.0
142.4
82 8
196.5
49.4
58.1
48. 0
48.3
57. 7
47.6
47.5
57.3
47.6
47.5
56. 9
47.5
46.8
56.7
47.4
45.8
55. 9
46.2
172.4
1H9.8
] 50. 6
156. 5
172.0
97.7
39 9
49.3
146.2
136. 8
^ 143.9
173.8
97.7
39 9
49. 3
148. 3
114.7
65 8
155. 4
114.7
67.0
155.6
51.6
59.1
50 0
51.2
58. 8
49. 2
136. 3
156.4
136. 1
r 143. 9
r
174. 4
171.0
1 56. 3
164.6
171.9
169.4
148.4
M56.4
r 169.9
r 168.8
189.0
185 9
184.1
183. 7
188.8
185. 9
182 8
183. 7
240.2
182. 8
163. 9
236 2
r
113. 5
43 1
r
85 2
243 7
181 9
163.9
234 1
113. 5
43 1
76 3
243 4
142.7
82.8
196 5
142 5
82.8
196 3
142 7
82 8
196 2
141 7
82 8
196 2
44.6
55.1
45. 1
43.8
54. 4
44.2
43.7
54.2
44 2
43.8
54.2
44 3
44.0
53. 9
44 ' 0
43 1
90 8
r
PURCHASING POWER OF THE DOLLAR
As measured bv —
Wholesale prices
Consumers' prices
Retail food prices
_
1935-39 = 100. .
_ __ ... _ _ _ .. -do
do
CONSTRUCTION AND REAL ESTATE
CONSTRUCTION ACTIVITY t
New construction, total
mil. of dol_.
Private, total
do
Residential (nonfarm) _ _
_ _ _ _ _ _ _ __do
New dwelling units
do
Additions and alterations- .do
N on residential building, except farm and public
utility, total.
__
mil. o f d o l . .
Industrial
do
Commercial
_ __
do
Farm construction
do
Public utility
_
do
Public, total..
.
Residential
Nonresidential building^
Military and naval
ITiehway
Conservation and development
Other types
. do__ _
do
do _ .
do
- - do „ _ _
do
_-_
do
2. 2/8
2, 565
2, 69G
2.817
2. 848
2, 773
2, 561)
2, 234
2, 100
1. 973
2,188
r 2, 387
2, 550
1 694
1,892
1 . 1 78
1, 072
92
2,016
2, 090
1,322
1.212
2. 095
1.901
1. 131
1. 040
73
1.721
1. 003
923
62
1, 586
902
830
1, 518
827
750
60
1, 603
859
775
61
1 . 673
882
795
71
876
780
80
274
73
92
109
262
305
324
S4
116
1 25
287
407
150
125
95
283
433
160
130
113
300
584
27
203
8
188
81
673
28
201
6X0
24
202
10
266
87
82
86
Sf>
714
44
-292
T
59
160
73
86
823
46
310
80
215
80
92
1.036
941
82
78
110
118
278
1 269
1, 161
9,'i
93
1.322
1.211
94
2. 025
1.247
1. 145
84
91
114
127
297
354
101
121
115
297
382
112
136
95
294
403
120
149
81
279
395
1 25
140
71
247
378
129
122
72
229
384
135
121
76
226
399
142
128
83
264
753
28
230
21
298
84
92
748
30
947
28
265
84
94
668
31
228
26
221
76
86
513
30
21 6
24
103
65
514
33
224
99
95
60
455
36
210
29
65
49
66
585
42
251
39
110
64
79
727
9
13
16
295
87
89
r
CONTRACT AWARDS
Construction contracts awarded in 37 States (F. W.
Dodge Corp.):
40,168
50. 284
46, 856
60, 658
65, 305
70. 449
Total projects
number _ _
49, 604
42, 057
52, 700
60, 942
38,121
48, 376
49, 498
Total valuation
thous. of dol_- 1,347,603 1, 345, 463 1,420, 181 1 , 548, 87!) 1,286.541 1,135.815 1,087.062 1, 168. 432 1, 043, 248 1, 140. 527 1, 267. 450 1,374.991 2, 572, 961
320, 426
450, 921
308. US
428. 264
388, 643
364, 298
Public ownership . _
_
.. _ do __
332, 032
381,330
,474,
166
305 941
418, 457
437, 770
456,319
922, 243
Private o wnershi p
do
766, 636
787. 102
808. 495
827. 697
917, 199
958, 960
960, 260 1,111,106
848, 993
918. 672 1,098,795
737, 307
Nonresidential buildings:
Projects
Floor area
Valuation
Residential buildings:
Projects
_
Floor area
Valuation
Public works:
Projects
Valuation
Utilities:
Projects
Valuation
__
_
number
thous of SQ ft
thous. of doL.
5 204
40 482
408, 543
5 090
45 254
443, 996
46 580
487, 115
5 087
51 741
540, 989
5 094
47 458
498, 725
4 830
4° 583
426, 820
4 868
41 472
434, 894
4 532
40 069
490. 375
461,016
3 198
37 009
431, 166
4 229
43 301
469, 254
518,021 1,633,908
number
thous. of SQ ft
thous of dol
57. 843
84 937
674 604
52, 989
77. 850
628 051
53 2*-8
84 39.3
675 080
62 025
89 033
754 106
42. 906
65, 069
549 585
42. 960
64,945
529 86"
40. 368
60 810
496 682
34. 152
56 353
478 583
32 455
49 300
4 9 0 918
37. 742
60 859
531 146
42 497
65 761
574 569
43 197
6" 180
590 848
45 856
73 5%
661 004
number
thous. of dol._
1,807
199, 239
2, 1 56
221, 654
2 133
9 (V>0
208,648
200, 431
1,812
145, 728
119,633
1 °' ! '"i
106, 572
1 151
160, 227
773
128, 536
838
123, 962
1 318
166, 435
1 583
183. 080
2 016
186, 868
number
thous. of d o l _ _
451
65, 217
423
51, 762
456
49, 338
417
53, 350
472
92, 503
369
59, 495
48,914
333
39, 247
279
32, 778
979
54, 253
339
57, 192
459
83, 042
91,091
329
358
274
303
334
358
291
325
372
325
369
351
346
358
334
362
323
332
321
332
285
285
299
294
276
272
306
284
268
253
332
297
272
259
333
312
280
276
323
311
307
307
304
292
T 424
T 331
T 373
931, 153 1, 253, 720 1,175,138 1,164,682
959, 530
Value of contract awards (F. R. indexes):
Total, unadjusted
1923-25 = 100
Residential, unadjusted
do
Total, adjusted
_ do
Residential, adjusted _
_ _
do
Engineering construction :
Contract awards (E. N. R.)§
thous. of dol__
5 OX r >
1.445
385
4 614
43 971
4 950
41 473
r 283
4 491
44 804
407
417
317
346
269
950, 526 1,012,046 1, 424, 619 1, 266, 892 1, 271, 065 1, 406, 456 1, 053, 434 1, 267, 995
Highway concrete pavement contract awards:©
1
Total
thous. of sq. yd_.
8, 351
7, 094
4,114
3, 605
6,589
5, 832
3, 738
3, 084
4,836
5, 650
4 959
4,920
5, 937
1
460
580
224
477
299
50
Airports
do
28
1 222
190
200
066
690
1 278
1
9
4, 604
1, 333
1, 634
Roads
__
__
_
do
2, 901
1 314
3, 457
2 890
2 065
3 199
2 400
320
2 326
1 957
Streets and alleys
do
2.304
3. 167
3. 509
1.920
1.471
l 1. 645
2. 252
1.214
2' 036
3,177
1^904
2 .3.39
2.708
r
Revised.
1 Data include some contracts awarded in prior months but not reported.
cf For actual wholesale prices of individual commodities, see respective commodities.
JSee note marked "I" on p. S-5.
jRevised series. Data cover items not previously included; annual data beginning 1915 and m o n t h l y data beginning 1939 are available in the "Statistical Supplement" to the Mi ly 1951
Construction and Building Materials Report; the figures from 1949 forward, as shown in the May 1950 issue of this report, have since been revised; revisions beginning April 1950 are as
shown on this page.
§Data for June, August .and November 1950 and March and May 1951 are for 5 weeks; other months, 4 weeks.
GData for May, August, and November 1950 and January and May 1951 are for 5 weeks; other months, 4 weeks.
SURVEY OF CURRENT BUSINESS
July 19.-.1
S-7
1951
1950
Unless otherwise stated, statistics through
1948 and descriptive notes are shown in the
1949 Statistical Supplement to the Survey
May
June
July
August
September
October
November
December
January
February
85, 900
80, 600
' 93, 800
52, 729
r 43, 570
' 49, 579 r 39, 717
r 39, 850
r 32, 958
'2,813
••2,111
r 6, 916
r 4, 648
' 3, 150
3,853
' 54, 136
' 50, 668
' 41, 206
March
April
May
CONSTRUCTION AND REAL ESTATE—Continued
NEW DWELLING UNITS AND URBAN
BUILDING
New permanent nonfarm dwelling units started
149, 100
(U 8 Department of Labor)
number
Urban building authorized (U. S. Dept. of Labor):
92, 086
New urban dwelling units, totalt
number ._
88, 814
Privately financed, total
do
69. 377
Units in 1-family structures.
do ..
3,859
Units in 2-family structures
do
15, 578
Units in multifamily structures
do
3,272
Publicly financed, total
do
Indexes of urban building authorized:
r
Number of new dwelling units. _ _ .1935-39 = 100. . r 531.9
604. 9
Valuation of building, total
do
r
1,031.0
New residential building do.
r
339. 8
New nonresidential building
do
335.3
Additions, alterations, and repairs
do
144, 300
144, 400
141, 900
120, 600
102, 500
87, 300
93, 600
83, 657
82, 934
66, 885
2,828
13, 221
723
84, 147
79, 473
64, 586
3,118
11, 769
4,674
83, 181
79, 140
61, 740
2,992
14, 408
4,041
62, 500
58, 172
46, 498
2, 236
9, 438
4,328
56, 873
55, 210
43, 761
2,323
9, 126
1,663
49, 129
44, 588
36. 244
2, 056
6,288
4,541
59, 551
44, 697
34, 810
1,747
8,140
14, 854
481.2
597.7
926.1
398.6
376.4
484.8
608.7
949.8
404.5
371.8
479.7
627.3
967.6
426. 9
382. 6
359.4
484.6
716.8
343.2
329.8
327. 7
497. 3
663. 7
425.1
311.9
274.1
404.4
558. 6
323. 4
268.6
322.1
460.2
654.3
374.8
249.7
286.9
433.7
581.2
348. 8
322.8
235.2
334. 7
507.8
224. 6
231.2
295.5
440.2
617. 5
340. 5
300.5
215.4
217.6
311
221.0
225.0
226. 5
330
226.7
227.6
230.4
339
232. 9
234.6
234.7
357
490
511
497
452
476
346
498
518
504
459
485
349
502
519
514
465
488
357
508
526
522
473
495
366
513
536
531
478
499
369
515
542
534
479
502
371
514
541
535
475
501
371
517
543
536
477
504
371
523
550
541
484
511
374
524
550
542
485
511
374
214.4
214.5
224.4
215.6
215.8
227.2
218.0
218.6
230.8
219.5
220.7
234.6
220.4
221.4
234. 3
220.9
221.9
233.2
222.9
223.9
233.7
224.7
226. 4
236.9
228.2
229.9
240.1
217.1
215.7
219.8
229.1
201.7
218.3
216. 9
222.4
232.5
202.3
220.3
219.0
225. 4
236.4
203.8
221.4
220.7
228.4
241.5
205. 1
222.3
221.3
228.4
240. 7
205.8
222.9
221.5
227.9
238. 9
206. 2
224.8
223.4
229. 3
237.9
208.2
226.3
225.9
232.4
241.3
211. 0
224.9
223.7
227.7
226.7
231.3
230.5
235.1
235.1
234.8
234. 5
233. 7
233.0
234. 2
232.7
373.0
506.5
376.9
511.9
383.1
521.4
392.8
530.4
396.2
534.4
388.9
527.9
390.1
528.7
r
88, 000
r
T
1
97, 000
53, 807
50. 360
42, 696
2.843
' 4, 821
3,447
57, 327
54, 302
43,911
2 470
7] 919
3, 025
310. 5
444.2
678. 3
302. 0
287. 3
318. 0
458. 6
688. 2
300. 9
351.4
236. 0
237. 0
525
550
542
485
512
376
527
556
544
488
512
376
528
557
545
490
512
378
229.6
231.6
242.7
230. 5
232. 6
243. 3
230.7
232. 8
243. 6
232. 6
234. 3
245. 0
230.0
230.0
235. 6
244. 5
215.6
231.3
231.9
238. 1
247. 1
217.7
232.1
232. 6
238.7
247.7
218.4
232.2
232. 7
238. 9
248.0
218. 5
234.
234.
240.
249.
219.
237.4
236.1
240.5
239.1
243.1
241.7
243. 7
242.3
243.8
242.5
245. 1
243. 6
391.8
530.7
397.0
536. 7
398.0
537.9
398.8
538.7
402.7
543. 9
400. 8
542. 7
r 2, 816
r 6, 646
3,468
CONSTRUCTION COST INDEXES
Department of Commerce composite*
1939= 100..
Aberthaw (industrial building)
1914= 100. .
American Appraisal Company:
Avornge, 30 cities
. 1913 = 100, _
\tlanta
do
New York
do ...
San Francisco
do
St. Louis
_- _ - do _
Associated General Contractors (all types)
do
E. II. Boeckh and Associates, Inc.:
Average, 20 cities:
Apartments, hotels, and office buildings:
Brick and concrete. _U. S. avg. 1926-29=100..
Brick a n d steel . . _ _ _ _ - _ _
do
Brick and wood
do
Commercial and factory buildings:
Brick and concrete
do
Brick and steel
__ ._
do
Brick and wood
_ do. _
Frame
do
Steel
_ _
do
Residences:
Brick
do
Frame
do
Engineering News- Record:^
Building
1913 = 100
Construction
.
do
Bu. of Public Roads — Highway construction:
Composite, standard mile
1925-29= 100. .
140.0
146.2
155.7
r
5
5
4
0
7
159.7
CONSTRUCTION MATERIALS
Production of selected construction materials, index:
Unadjusted
1939 = 100
Adjusted
__
_
do
166.7
157.6
171.5
160.3
162.3
152. 5
192.2
169.8
179.3
166. 8
186.2
168.1
173.2
174.8
155.6
176. 0
r
r
155. 7
182. 3
r
r
141.7
171. 8
r
T
167. 3
176. 7
* 168. 8
T 169.8
REAL ESTATE
Home mortgages insured or guaranteed by —
Fed. Hous. Adm.: New premium paying
183, 559
182, 568
235, 742
204, 030
164, 669
thous. of doL. 178, 000
241, 423
217, 594
180, 081
161,584
216, 154
224, 671
175, 821
234, 070
218,315
Vet. Adm.: Principal amount*-__ do
214, 433
332, 201
268, 611
356, 491
291,906
350, 366
293, 236
258, 401
360, 574
324, 755
298, 950
Federal Home Loan Banks, outstanding advances
442
to member institutions
mil of dol
365
506
767
632
816
774
700
762
730
752
758
747
New mortgage loans of all savings and loan associa517, 163
490, 324
527, 967
tions, estimated total
thous. of dol
556, 469
449, 963
393, 857
475, 383
370, 681
467, 585
384, 008
440, 210
437, 967
351, 142
By purpose of loan:
188, 938
180, 762
189, 363
Home construction
_
do
183. 493
140, 655
123, 134
117, 079
145, 422
129, 183
140, 567
153, 678
141,496
112, 008
214, 412
223, 617
197, 761
Home purchase
do
248, 089
182, 978
213, 888
163, 447
190 539
219, 001
153, 984
213, 006
193, 359
148, 936
Refinancing
_
do
39, 517
38. 887
42, 093
34,415
32, 002
43. 410
36, 579
38, 687
40, 879
34, 827
38. 786
39, 685
34, 173
Repairs and reconditioning
do
22, 890
21, 853
22, 461
25, 575
16, 2S5
18, 870
16, 951
13, 804
13, 693
16, 948
20, 220
13,311
12, 638
All other purposes
do
49, 394
53, 073
50, 433
55, 902
44, 054
41, 939
39, 883
48,071
50, 482
48,115
50, 348
48, 744
43, 087
New nonfarm mortgages recorded ($20,000 and
under), estimated total
thous. of dol 1, 377, 918 1, 465, 469 1,470,812 1, 624, 913 1, 497, 824 1, 544, 410 1, 457, 073 1, 320, 895 1,331,083 1, 182, 753 1,369,284 1,370,848 1, 443, 538
Nonfarm foreclosures, adjusted index. 1935-39=100-_
12.9
13.7
11.9
14.6
14. 1
13.1
12.1
13.7
12.8
12.9
12.6
Fire losses
thous. of dol__
58, 765
52, 980
57, 116
49, 953
55, 790
49, 878
58, 744
66, 820
45, 922
68, 686
62, 965
69, 136
71, 507
DOMESTIC TRADE
I SING
Advertising indexes, adjusted:
3d:
Printers' Ink, combined ' adex
1935-39=100._
331
333
311
318
336
377
365
371
394
394
393
388
377
Magazines
do
324
321
316
342
341
342
338
319
347
344
343
338
35r>
Newspapers
do
325
306
320
297
310
322
344
302
296
324
338
314
337
327
Outdoor
do
302
290
29'-}
328
288
327
359
372
360
356
380
340
9
Radio
294
do
273
294
269
282
278
287
272
83
280
286
281
286
Tide advertising index..
do
309.9
311.7
280 0
317 2
298 8
308 8
309 1
318 8
324 2
332 9
335 5
328 4
290 1
Radio advertising:
Cost of facilities, total-.
thous. of dol
16 576
12 293
15 146
12 559
13 931
15 794
16 170
15 833 r JQ 714 r 1 4. Q78
16 440 r 15 926
16 555
Automotive, inch acce ories
do
411
'288
357
325
297
' 355
339
399
508
321
378
' 385
379
r 4 5^5
Drugs and toiletries_ do
4,431
4 193
3 349
3 648
3 969
4 649
4 415
4 277
4 695
4 082
4 452
4 826
Electric household equipment..
pment
__do 167
136
142
148
142
136
142
134
147
144
139
128
153
Financial
239
259
do
238
226
249
244
234
228
251
248
303
288
r
Foods, soft drinks, c
sctionery
do
4,756
3,513
4,366
3,371
3,843
4,341
4,319
4,240
4, 699 r 4, 248
4,
607
4,683
r 4, 443
r 579
Gasoline and oil
do
T P191
409
391
467
475
469
545
505
563
549
479
Soap, cleansers, etc..
1,947
do
1 791
1 310
1 431
1 664
1 877
1 786
1 831
1 813
1 62^
1 659
1
784
1 647
Smoking materials..
do
2,101
1,577
1,831
1 562
1 781
1 540
1 853
1 797
1 844
1 914
1 698
1 901
1 958
Allother§
do....
2.116
1.826
1.429
1.387
2. 9X7
9 229
1.749
2.217
2'l7Q
9 104
9 21 ^
9 12fi
9 199.
r
Revised.
* Preliminary.
1 Data for June 1951, 130,000.
JMinor revisions in number of dwelling units beginning January 1947 are available upon request.
*New series. Details regarding the Department of Commerce construction cost index and data prior to April 1950 are available in the "Statistical Supplement" to the May 1951 Construction and Building Materials Report. Data on home mortgages, compiled by the Veterans Administration, represent the amount of home loans closed monthly under the Servicemen's
Readjustment Act; figures prior to August 1949 are available upon request.
cfData reported at the beginning of each month are shown here for the previous month.
§Includes data for apparel and household furnishings, shown separately prior to the October 1950 SURVEY.
SURVEY OF CURRENT BUSINESS
S-8
Unless otherwise stated, statistics through
1948 and descriptive notes are shown in the
1949 Statistical Supplement to the Survey
July W>1
1951
1950
May
June
July
August
September
October
November
December
January
February
March
April
May
DOMESTIC TRADE—Continued
ADVERTISING—Continued
Magazine advertising^
Cost, total
thous.
Apparel and accessories
Automotive, incl accessories
Building materials §
_
Drugs and toiletries
Foods, soft drinks, confectionery
Beer, wine, liquors §
__ __ __
50. 261
4,237
4.226
2,499
5, 693
6,582
2,364
42, 488
2,832
3,882
1,719
5,618
6,846
2,024
32, 754
4,515
3,282
2.320
1,238
1,327
11, 979
3,615
1,715
2,162
983
1,364
9,729
2.057
7,784
3,853
2,974
220, 211
45, 576
174,636
12, 441
2,469
36, 560
123, 166
209, 093
44, 776
164, 317
11,410
2, 237
33, 876
116,795
thousands
thous. of dol._
4,543
90, 363
4, 258
84, 983
83, 459
thousands
thous. of dol _
14, 055
205, 818
13,960
202, 790
12, 279
183, 502
of doL
do
do
.do. _
do
do
_do._ .
Household equipment and supplies §
do
Household furnishings §
do
Industrial materials §_.
_ _do___
Soaps cleansers, etc
do
Smoking materials
do
All other
__ __ _ d o _ Linage, total
__
Newspaper advertising:
Linage total (52 cities)
Classified
._
Displav, total
Automotive
Financial
General
Retail
thous. of lines
_
._
do
,do___
-do
do
__ _do_
do
-do
884
3,832
1,081
4,844
5,874
33, 577
3,273
3,772
1,128
4,338
49. 603
5. 540
4, 255
2, 537
5,416
5, 435
1,476
6,724
1.574
929
1,588
865
1,116
55. 301
4,648
4,545
2,397
6,463
51 . 534
3, 705
4.071
1,491
6, 145
40. 673
3,000
2, 519
745
5, 268
30, 863
1. 632
2,908
1.033
4,359
4,979
42. 904
3,183
3,213
1,377
5. 710
»• 52, 246
55, 993
5, 007
3, 956
5,334
3,613
2, 455
3,063
6.264
52. 737
4. 623
3, 835
2, 933
5, 845
0, 027
2, 695
7,781
6, 582
7,391
1,602
7,398
2,067
1,106
894
1,668
765
1,137
8,781
2, 153
1, 502
2, 034
1, 167
1,241
3, 525
'4,072
11,859
2, 693
1,289
1,267
r 12, 864
3, 581
3, 1 50
1 762
1, 324
13, 353
3. 949
3, 477
2, 735
1,525
1,381
13, 111
2,436
7,488
2,703
3.648
2.767
4,435
3.650
8,083
11,506
2,713
1. 421
1. 556
12. 439
3,870
3,079
2,292
1,324
1,419
13, 949
3, 136
1, 753
1, 691
811
1,429
10, 707
3,175
3,791
4,505
4, 602
3.958
3,106
3,520
4,050
4,464
4, 531
3, 926
173, 092
42, 684
130, 409
186, 524
45, 005
207, 305
45, 888
230, 288
47, 678
182, 610
226, 880
42. 944
217, 856
39, 099
178, 757
8, 395
173,177
130,405
176, 831
40, 355
136, 475
226 647
52, 165
7,482
39 502
130, 447
29, 682
138, 334
8, 165
3 332
24, 066
94, 841
218, 341
49, 358
168, 984
8,710
2, 205
29 435
97, 353
33, 886
123, 664
10
2
38
123,
15*
027
078
619
226, 207
53, 766
172, 441
11, 509
2 455
36, 120
122, 357
4, 413
102, 139
97,712
107, 031
4 454
99, 820
5, 536
124, 277
7 183
128, 681
0, 756
122. 605
14, 739
225, 332
14, 191
209, 795
221,714
12, 574
195, 274
1 5, 874
249, 063
17,472
348, 166
18, 301
230, 72]
1,738
697
1,713
884
1,365
9,338
2,683
26, 048
92, 339
141,518
8,969
1,965
2. 657
1,091
1 , 497
161,417
8,793
8, 598
11,314
1,832
25, 431
105, 287
2,091
32, 705
117, 829
127, 542
4.228
88. 172
4,039
91,350
100, 802
13, 842
210. 887
12, 836
206, 145
222, 331
2, 531
41,222
183,936
11,721
2,267
5,825
3,789
2,347
42, 772
2,464
2,752
2,696
2,724
r
174,482
POSTAL BUSINESS
Money orders:
Domestic, issued (50 cities):
Number
Value
Domestic. paid (50 cities):
Number
Value
-
4,062
5,474
14.218
4, 662
4,826
14, 599
PERSONAL CONSUMPTION
EXPENDITURES
Seasonally adjusted quarterly totals at annual rates:f
Durable goods total
Automobiles and parts
Furniture and household equipment
do
do
do
Nondurable goods total
Clothing and shoes
Food and alcoholic beverages
Onsoline and oil
Semi durable housefurnishings
Tobacco
Other nondurable goods
do
do
do
do
do
do
do
Services
Household operation
Housing
Personal service
do
do
do
do
JJPCfPatiOn
(JO
Transportation
Other services
do
do
r
188 7
r 202. 5
'26. 6
"• 34. 3
* 14.3
16.0
-4.0
r 11.4
r
11. ,5
r
r
3. 8
100 4
59 7
5 1
1.9
4
4
r
!0. 8
T
r
r
r
19. 6
* 62. 6
••5. 1
r
2.4
4. 4
11.3
r
61 6
9. 2
19 7
r
3
8
T
4 0
r
5 1
19 9
r
r 208 2
198 4
'29. 4
r
12.9
* 12. 4
4. 1
r 105. 5
r
' IS. ,5
r
r
31. 5
r 12. 5
r 14 8
'4.3
104 9
r
19. 2
T
62 7
r
5 2
2.0
4 5
r
11. 2
r
62. 7
'9. 3
r
r 111 5
r
20
67
5
2
r 4
r
11
r
r
64
0
T
9.8
20 5
r 65 2
r
r
20. 1
T
10 1
r 20 9
r 3 Q
3 9
3. 9
5 2
20. 3
r
r
r
4
0
4
4
7
6
r
3 9
5 3
20 7
3 9
3 9
r 5 4
r 21 0
RETAIL TRADE
All types of retail stores :f
Estimated sales (unadjusted), total 9 _mil. of doL_
Durable-goods stores 9
_ _ - __do . .
Automotive group 9
do
Motor-vehicle dealers 9
do
Parts and accessories cf
do
Building materials and hardware grouped
mil. of doL_
Building materials cf--- -- _do__ _
Farm implements
_ _ do
Hardware^
do
Horn efurnishings grouped. _ _ _ 71
do _
Furniture and housefurnishingsd
do
Household appliances and radioscf---do
Jewelry stores
tf
_ _ _. _.
__do _ _
11, 654
4,200
2, 461
2,294
167
11, 957
4, 515
1,061
715
145
201
597
354
244
81
12,313
12, 737
4, 967
2, 856
2,521
4, 755
2. 881
2,610
177
271
224
1,133
769
1,117
1,248
874
161
214
778
392
386
85
2,698
745
159
205
595
167
205
685
344
251
89
356
329
72
2,632
12, 498
4, 462
2, 492
2,308
184
1, 125
787
133
205
752
385
367
92
12. 077
11, 613
3, 678
1, 998
1, 826
172
14, 463
2, 309
2, 131
179
1,129
792
135
203
712
365
347
93
964
668
103
193
614
345
269
102
4.243
11,866
2,014
245
4,165
2, 520
2,314
207
10, 913
3. S44
2,361
2,180
182
12, 503
4, 223
2, 560
2 360
930
547
121
262
796
438
358
259
926
612
121
193
638
331
307
80
825
537
109
179
589
302
287
69
992
641
4,243
2,259
7
r
r
200
144
207
593
334
259
78
r
11.180
3. 973
2, 297
2 108
r
189
12. 3R2
4. 268
2, 454
2, 202
192
1, 056
T
089
1, 164
753
156
174
237
561
21 1
541
'321
'220
80
r
348
214
88
7,454
7 go?
7,770
8,036
7,833
7,442
7,558
7,935
10 220
7,701
7 068
8 340
8 114
Nondurable-goods stores 9
do
641
756
583
855
844
1,289
777
871
Apparel group cf
- do
747
616
802
903
728
134
173
191
203
Men's clothing and furnishingscf
do
140
223
363
210
154
195
195
181
159
r
349
304
403
247
400
Women's apparel and accessories
do___
402
317
553
338
279
418
352
372
104
83
89
101
116
118
127
197
1%
Family and other apparelcf
do
108
86
97
109
114
130
Shoes
do
134
113
124
121
145
165
120
176
140
98
119
r
298
296
299
293
302
306
Drugstores
_. __
do _ _
296
297
401
303
328
318
303
986
928
979 ,
991
Eating and drinking places 9
do, __
936
928
913
985
940
847
949
1. 004
974
r
Revised.
{Comparable data on magazine advertising cost (Publishers' Information Bureau, Inc.) are available back to January 1948 only. Beginning with the October 1949 SURVEY, five new components are shown (marked with "§"); the total of the two components ''household equipment, etc." and "household furnishings" covers all items formerly included in "electric household
equipment" and "housefurnishings, etc." Revised data for January 1948-May 1950 are available upon request. §See note marked "J" above.
fRevised series. Estimates of personal consumption expenditures have been revised beginning 1946; revised figures for the grand total and for total durable and nondurable goods and
services are shown as components of gross national product in table 43 in part V of the National Income Supplement to the SURVEY, July 1951. Revised quarterly data for other items for
1946-47 appear on p. 23 of the December 1950 SURVEY; revisions for those items for 1948—1st quarter 1950 will be shown later.
Dollar estimates of sales for all types of retail stores and for chain stores and mail-order houses have been revised for various periods back to 1943 and revisions from August 1948 forward
arc shown beginning with the October 1949 SURVEY; specific periods for which the series have been revised are as stated in the notes below. Monthly data for 1946-48 for both sales and inventories of all types of retail stores (unadjusted and adjusted series) appear on pp. 21-23 of the October 1949 SURVEY. Data prior to 1946 and unpublished revisions are available upon request.
9Revised beginning 1943.
cf Revised beginning 1948.
SURVEY OF CURRENT BUSINESS
July 1951
Unless otherwise stated, statistics through
1948 and descriptive notes are shown in the
1949 Statistical Supplement to the Survey
S-9
1951
1950
May
June
July
August
September
October
November
December
January
3 086
2, 519
2 705
2, 174
1, 613
February
March
April
May
DOMESTIC TRADE—Continued
RETAIL TRADE—Continued
All types of retail storesf — Continued
Estimated sales (unadjusted), total— Continued
Nondurable-goods stores 9 — Continued
Food group 9
mil of dol
Grocery and combination 9 do
Other food 9
do
Filling stations
.__ _ .
do_ .
General-merchandise group§ _
do
Department, including mail-order§_._do
General, including general merchandise
with food
mil. of dol
Dry goods and other general merchandised11
mil. of dol. .
Variety
.. . do ._
Other retail storesO
do
LiquorO
do
Other§
_ do __
2,819
2.289
1,338
893
2, 591
2,090
501
581
1,320
874
1,306
855
1.379
924
155
155
166
129
162
1, 001
129
162
124
161
2 561
2, 054
507
573
530
655
134
867
967
130
837
974
134
840
Estimated sales (adjusted), total
do ._
Durable-goods stores
do
Automotive group
do
Motor- vehicle dealers
do
Parts and accessories
do
Building materials and hardware group
mil. of dol__
Building materials.
_
do
Hardware _
.
do_ _
Homefurnishings group
do
Furniture and housefurnishings
do
Household appliances and radios
do
Jewelry stores _
do
11,327
3,886
2,262
2,105
157
11,699
4,179
2,485
2,325
160
969
666
1,026
702
Nondurable-goods stores.. _
_ do
Apparel group
do ___
Men's clothing and furnishings
do
Women's apparel and accessories
do
Family and other apparel
do
Shoes
do
Drug stores
do
Eating and drinking places
__do
2,793
2,244
548
582
1,481
1,008
2 620
2,082
160
125
169
1,083
2, 752
2, 205
547
629
534
575
1,442
979
1,569
1,080
160
149
157
136
177
1,045
136
178
1,046
147
185
1,049
137
946
145
900
12, 700
4,679
2,763
2,512
12, 682
4,694
2,690
2,484
12, 133
4,417
2,570
2,389
206
181
11,759
4,179
2,399
2,225
174
1,084
723
1,143
778
1,015
684
986
670
251
198
727
176
569
189
576
323
247
87
329
248
92
397
342
93
384
376
101
367
360
104
7,440
765
183
349
108
124
296
906
7,519
8,021
7,716
126
305
929
131
295
911
7,987
788
190
355
110
133
302
929
Food group _ _
_
do
Grocery and combination
do
Other food.
do
Filling stations _ _ . _
__
_do
General-merchandise group
do
Department, including mail-order
do
Other retail stores
do
2,578
2,071
507
546
1,344
892
1,006
2,604
2,107
496
553
1,376
919
983
2,754
2,226
528
601
1,605
1,122
1,078
Estimated inventories (adjusted), total . do
Durable-goods stores
do
Automotive group _ do
Building materials and hardware group
mil. of dol_.
Homefurnishings group
do
Jewelry stores
do
Nondurable-goods stores __
do
Apparel group
do
Drug stores
do
Eating and drinking places
do
Food group
do
Filling stations ..
do
General-merchandise group.
do
Other retail stores
_
do
14, 416
5,437
1,763
14, 720
5,634
1,948
1,993
1,217
2,027
1,189
470
9,086
1,859
618
391
1,625
374
2,852
1,367
Chain stores and mail-order houses:f
Sales, estimated, total 9 -~
do
Apparel group
__
. _do
Men's wear
do
Women's wear _
do
Shoes
do
Automotive parts and accessories ._ _ do
Building materials.
do
Drug stores
__
.do
Eating and drinking places _
do
Furniture and housefurnishings
do
General-merchandise group
do
Department, dry goods, and general merchandise _ . _
mil. of dol
Mail-order (catalog sales)
do
Variety
do
Grocery and combination
do
Indexes of salesif
Unadjusted, combined index 9 ---1935-39=100..
Adjusted, combined index 9 do
Apparel groupcf
do
Men's wearcf- 1 _
_ do
Women's weard
.
do __
Shoesd* do
Automotive parts and accessories^1
do
Building materials cfdo
Drug stores
_ _ _
__
_
do
Eating and drinking placescf
do
Furniture and housefurnishings cf
do
General-merchandise group cf — .
do
Department,
dry goods, and general merchandised11
1935-39=100
M ail- or der d do
Varietycf.
_
_ -do
Grocery and combination
do
770
186
350
109
464
8,979
1,842
599
393
1,568
332
2,916
1,329
21£
739
210
760
2 661
2,126
538
586
149
897
192
687
164
886
2 978
2,414
r 2, 705
' 2, 169
'536
2,898
2,320
578
628
1,283
881
2 591
2,095
496
535
1,129
756
1,420
933
1,294
'857
1,414
929
194
139
129
155
149
164
228
394
1,414
119
143
1,108
101
143
1,054
133
199
1,142
567
615
2,429
268
531
584
596
128
"•160
' 1, 033
136
143
912
11, 387
3,670
2,074
1,910
12, 194
4,099
2,389
2,173
13, 307
4,772
2,742
2,496
13, 075
4, 723
2.764
2,520
12, 324
4,240
2,427
2,207
' 12, 025
r 3, 996
' 2, 255
2,056
'199
12, 065
925
624
988
626
1, 154
755
1, 129
741
1,084
721
r 1, 057
'716
1,065
702
165
191
576
216
213
625
246
244
767
244
241
730
154
987
220
'897
211
546
'579
'335
321
224
98
348
339
107
318
258
95
357
269
97
413
355
109
381
349
100
356
272
102
7.717
8,094
819
195
384
114
126
308
957
8,535
937
238
414
131
154
320
984
8,352
844
219
368
119
138
331
981
8,085
763
175
342
111
135
333
994
r 8, 029
779
183
8,097
811
192
125
304
938
7,580
771
189
356
106
119
308
933
'365
109
371
113
r!22
135
318
980
2,728
2,192
536
590
1,523
1,037
1,127
2,640
2,127
514
564
1,445
981
1,056
2,624
2,096
528
553
1,350
895
1,042
2,718
2,177
2,840
2,278
562
648
1,638
1,123
1,168
2,885
2,322
563
647
1,494
1,006
1,170
2,883
2,323
560
629
1,381
903
1,102
«• 2, 871
' 2, 308
' 563
1,025
2,802
2,282
520
613
1,494
1,011
1,101
14, 125
5, 135
1,574
15, 076
5,484
1,744
15, 793
5,807
1,781
16, 697
6,482
2,093
16, 787
6,576
2,101
16, 754
6,644
2,165
17, 422
6,812
2,161
17, 817
6,896
2,211
18, 642
7 572
2,543
19, 114
* 18, 976
7,906
' 7 811
2,782
' 2 653
2,021
1,069
2,042
1,214
2,192
1,325
2,370
1,593
512
10, 211
2,093
588
490
1,672
331
3,390
1,647
2,445
1,519
515
10, 110
2,076
572
540
1, 620
32'~
3,409
1,571
2,567
1,552
532
10, 610
2 146
623
(i)
1 785
(i)
3 573
12 483
2,507
1,633
545
10, 921
2,202
650
(i)
1,874
(i)
3 660
2,535
2,667
1,789
r
573
11, 070
2 220
640
(i)
1 883
(i)
3 760
12 567
2,681
' 2, 703
1,871
' 1 883
r 572
572
r 11 165
11, 208
r 2 333
2 356
660
' 652
r 1 g!7
(1)
r 3 gl2
r 1 2 551
3 744
12 639
2,194
2 692
r 2 411
•p 2 605
778
190
344
113
471
8,990
1,835
594
420
1,619
392
2,805
1,325
768
184
352
108
1 779
1,802
2 994
1,399
3,181
1,504
2,296
1,590
503
10, 215
2,078
596
453
1,789
361
3,340
1,598
484
9,592
1 989
619
435
377
509
9,986
2,038
620
456
385
792
191
366
109
126
309
929
540
579
1,365
906
'244
105
«-319
972
r
2,340
576
599
1, 410
1,427
r
927
932
1, 070
1,046
(i)
(i)
2 485
2,588
262
41
125
75
57
136
66
50
33
692
2,498
246
40
121
64
49
137
68
52
30
671
2,522
246
44
118
64
47
111
64
49
27
733
3,389
381
69
182
99
77
87
97
54
39
1,140
2 342
196
24
98
58
67
142
66
52
31
656
377
86
136
833
386
87
137
826
420
84
136
902
397
105
142
843
427
105
149
878
398
112
150
840
423
143
156
862
642
158
326
1,037
319
104
121
898
285
87
120
876
1 032
r Q13
314.1
'315.0
303.3
263.6
390.6
239.8
r 274. 6
365.2
215.9
222.4
244.4
9
306. 6
319.2
300.9
265.3
387.9
235.4
291.3
396.6
222.0
221.7
243.9
r
311. 1
328.8
«• 354. 7
301.8
274.8
381.8
237.8
407.7
442. 1
221.2
216. 9
314.9
r
369. 7
325.2
347.3
315.4
286.1
393.5
254 7
339.1
450.7
224.6
220.4
289.5
347.3
341.2
331.9
314.3
281.1
402.2
241.6
308.6
409.4
227.8
214.4
293.4
321.5
336.0
323.2
305.4
257.5
407.1
231.7
271.0
403.0
223.4
214.6
262.3
300.1
346.1
323.9
309.5
269.9
400.5
242.5
240.5
393 7
219.9
210.4
215.2
312.7
442.4
344 7
330.8
306.0
431.2
245 6
322.1
398 3
226 3
218.1
248.4
333 0
315.0
366 9
354 1
313 9
452 1
281 5
386 6
451 6
234 0
224.6
290.5
376 1
316.3
356 6
324 6
284 9
414.1
259 3
386 9
436 0
244 1
221.9
270. 7
347 3
338.0
342 3
312 2
230 9
411 3
260 5
336 9
396 8
241 2
221.8
241.5
316 6
' 335. 2
' 343 3
306 0
' 247 0
r 413 9
r 230 9
r 307 9
r 391 3
r 231 4
r 225. 6
' 231. 6
r 326 8
' 381. 4
' 256. 9
224.3
379.1
385.7
»• 270. 4
224.0
378.9
477.7
' 342. 8
227.3
410.9
440 7
294 4
239 6
427.6
385 8
273 4
238 1
432. 7
r 410 2
198
36
90
55
49
96
67
52
23
554
176
28
85
48
46
81
68
47
23
502
2,916
608
2,496
186
24
91
56
81
126
66
51
29
652
o-i n n
3,968
2,260
2,075
185
206
223
627
2,380
234
37
107
70
58
121
65
50
26
621
r
144
905
146
962
238
34
110
68
53
109
64
52
28
610
2,361
143
178
1,050
1,146
400.8
361.8
437.0
381.7
401 8
475 9
269. 2
309.7
253.2
290.7
343 8
308 2
234.2
236.9
223.4
235.5
246 8
248 9
391.2
402.2
394.8
399.5
424.4
421.8
r
Revised.
*• Data for eating and drinking places and filling stations are included with those for other retail stores.
*> Preliminary.
tSee note marked "f" on p. S-8. Revisions for chain stores and mail-order houses for 1943-July 1948 are shown on p. 23 of the April 1950 SURVEY.
9 Revised beginning 1943.
§Revised beginning 1947.
cfRevised beginning 1948.
©Revised beginning 1945.
564
596
301
41
147
89
53
90
73
53
25
656
r 606
378
99
167
' 135
219
32
109
' 61
r 51
r 104
66
52
23
369
90
2r>8 8
r 242 2
' 437. 7
1 809
(i)
p255
-P 35
•p 126
P 73
P 56
P H6
»68
•P 54
P 25,
P 661
v 406
P 93
P i5o
P 975
346.6
347 6
325 1
268 3
425 0
257 9
294 1
386 9
229 8
234. 8
222.0
334 0
413 0
281 3
247 4
442.5
SURVEY OF CURRENT BUSINESS
S-10
Unless otherwise stated, statistics through
1948 and descriptive notes are shown in the
1949 Statistical Supplement to the Survey
July 1951
1951
1950
May
June
August
July
September
October
November
December
January
February
March
April
May
DOMESTIC TRADE—Continued
RETAIL TRADE—Continued
Department stores:
Accounts receivable, end of month:
Charge accounts
1941 average=100__
Instalment accounts
do
Ratio of collections to accounts receivable:
Charge accounts
__
percent-Instalment accounts _ _
do
Sales by type of payment:
Cash sales
percent of total sales
Charge account sales
do
Instalment sales
do
Sales, unadjusted, total U. S
Atlanta
Boston
Chicago
Cleveland
Dallas
Kansas City
Minneapolis _
NewYork__
__
Philadelphia
RichmondSt. Louis
_
_
San Francisco J
Sales, adjusted, total U. S J
Atlantat
--Boston
Chicago^..
Cleveland!
-.
Dallas!
Kansas CityJ
Minneapolis!
New York!
Philadelphia!
Richmond!
St. Louis
San Francisco!
Stocks, total U. S., end of month:!
Unadjusted
Adjusted
1935-39=100__
do
_do
do
do
do
do
do
do do
__ do. _
do
do
do
do
do
do
do . _
do
do
do
do
__do
_.do_ __
do
do
..do. __
do
Mail-order and store sales:
Total sales, 2 companies
_•
thous. of dol__
Montgomery Ward & Co
do
Sears, Roebuck & Co
do
Rural sales of general merchandise:
Total U. S , unadjusted
1935-39=100
East
_ --_
_- _ - d o - - _
South
do
Middle West
_ do...
Far West
__
do
Total U. S , adjusted
do
East
do
South
_
do
Middle West
do
Far West
_.
__do_
WHOLESALE TRADE
Service and limited-function wholesalers:!
Sales, estimated (unadj.), total
mil. of doL_
Durable-goods establishments
do
Nondurable-goods establishments
do
Inventories, estimated (unadj.), total
do_ _
Durable-goods establishments-_ do _ _
Nondurable-goods establishments
do
r
194
217
194
219
184
230
191
241
210
256
216
260
233
259
314
276
269
269
236
262
227
255
220
244
223
235
52
18
51
17
49
17
50
18
51
18
51
18
51
17
49
18
50
19
46
17
50
19
47
18
49
18
48
43
9
48
43
9
47
41
12
46
42
12
46
42
12
47
43
10
48
43
9
50
42
8
45
45
10
46
44
10
48
43
9
48
43
9
48
44
8
'287
"377
228
280
296
391
305
273
-•224
275
r
312
323
319
281
345
230
278
281
353
296
272
230
271
307
293
321
283
386
185
271
284
429
339
276
192
239
285
326
387
281
373
198
278
290
399
326
287
202
239
288
318
352
331
426
263
320
337
454
363
320
267
313
356
363
374
308
388
239
296
317
405
328
319
259
299
333
326
345
355
453
287
357
313
472
376
338
302
363
387
398
r
386
534
708
436
495
538
711
556
476
450
525
584
540
627
277
342
230
261
293
375
300
248
233
253
267
298
333
262
352
193
251
266
351
280
239
218
241
266
275
316
284
422
217
269
286
397
*308
236
230
286
307
298
"•317
284
367
••221
276
297
382
P302
279
232
269
298
304
r
320
P297
375
P233
293
306
393
"313
P284
238
286
P325
323
P330
290
'389
231
277
299
403
r
308
268
••228
270
r
318
330
336
298
392
240
278
299
410
322
283
242
285
333
326
342
362
494
268
330
364
537
414
342
274
331
394
418
454
335
415
268
335
334
449
354
321
277
319
360
370
374
320
409
255
305
333
420
345
289
262
310
332
360
368
291
370
216
282
299
375
303
283
238
279
312
305
343
290
391
229
288
251
400
325
291
234
273
312
316
345
325
421
249
318
328
433
354
318
266
307
336
353
r
376
362
449
303
349
395
475
395
325
291
342
369
363
r
420
326
419
251
322
333
439
346
324
263
321
341
327
375
291
413
217
290
286
414
p32 1
249
230
283
297
298
r
335
302
399
'233
282
323
402
»314
2S7
252
286
326
320
r
346
P301
387
P236
290
309
405
^317
P278
243
281
"331
330
^348
289
285
267
276
258
269
285
284
322
309
362
329
371
332
295
329
303
338
334
349
374
368
386
377
^369
"365
311, 492
97, 705
213, 787
317, 043
96, 389
220, 654
356, 756
104, 957
251,799
339, 478
112, 568
226, 910
357, 438
113, 430
244, 008
335, 351
113, 037
222, 314
369, 150
123, 084
246, 066
499, 058
164, 190
334, 868
296, 659
88, 572
208, 088
253, 570
77, 573
175, 997
310, 175
95, 107
215, 068
311, 771
95, 175
216, 596
328, 424
100, 408
228, 017
257.6
239.8
273.8
247.5
278.4
287.2
267.0
330.3
279.3
310.7
271.1
259.6
283.4
261.7
315.9
305.6
299.1
346.0
285.7
349.1
268.0
231.3
286.3
258.6
335. 3
363. 6
346.3
409.6
346.2
410.9
307.2
271.2
327.2
293.4
367.5
335.0
309.2
364.4
316.8
376.9
334.6
301.0
374.3
310.1
390.3
302.5
290.3
328. 9
288.2
341.2
346.8
319.7
402.0
322.3
388.7
290.0
266. 4
314.6
274.3
345.8
422.9
414.7
494.5
399.9
438.1
326.3
296.9
361.5
304.3
349.4
517.0
481.3
552.3
489.8
601.6
365.1
333.1
399.3
330.1
383.7
287.7
270.1
305.0
276.2
324.7
380.1
356. 3
381.2
368.3
441.2
269.3
230. 9
304.4
251.3
295. 5
321.7
278.1
350. 0
314. 1
395.6
291.5
279.4
323.5
275.8
312.0
307.8
279.4
340.5
290.3
346.7
287.6
269. 5
304.0
270.9
325. 5
300. 5
271. 1
331. 2
277.6
348.1
285.3
261.3
293. 3
276. 6
317.8
318.1
291.0
353.8
312.2
354.7
5,599
2, 052
3,547
7, 263
3, 153
4,110
5,743
2,149
3,594
7.208
3,171
4,037
6,355
2. 415
3,940
6, 991
2,990
4,001
7,349
2,866
4,483
7,271
2,878
4,393
6,899
2,581
4,318
7,500
2,911
4,589
7,141
2,703
4, 438
7,845
3,060
4,785
6,871
2,455
4,416
8,067
3,230
4,837
7,038
2,478
4,560
8,229
3,393
4,836
7,402
2,662
4,740
8,613
3,622
4,991
6,585
2,453
4, 132
8,808
3, 750
5,058
6,954
2, 706
4,248
9,166
4,025
5,141
' 6, 287
2,509
' 3, 778
9,283
4,255
5,028
6,527
2,478
4,049
9, 394
4, 439
4,955
EMPLOYMENT AND POPULATION
POPULATION
Population, continental United States:!
Total, incl. armed forces overseas
thousands..
151, 298
151, 483
151, 689
151, 939
152, 196
152, 438
152, 668
152, 879
153, 085
153, 302
153, 490
153, 699
153, 900
EMPLOYMENT
Employment status of civilian noninstitutional
population:
Estimated number 14 years of age and over,
total
thousands.. 109, 288
53, 010
Male
___
do
Female
do
56, 278
109, 392
53, 061
56, 331
109, 491
53, 103
56, 388
109, 587
53, 113
56, 474
109, 577
53. 044
56, 533
109, 407
52,812
56, 595
109, 293
52, 643
56, 650
109, 193
52, 491
56, 702
109, 170
52, 419
56, 751
108, 933
52, 140
56, 793
108, 964
52, 108
56, 856
108, 879
51, 980
56, 899
108, 832
51,883
56, 949
Civilian labor force, total
Male
-. _
__
Female
Employed
Male..
_
Female
Agricultural employment
Nonagricultural employment _ _
Unemployed...
do
do
do
62, 788
44,316
18, 472
64, 866
45, 429
19, 437
64, 427
45, 708
18, 719
64, 867
45,818
19, 049
63, 567
44, 726
18, 841
63, 704
44, 268
19, 436
63, 512
44. 019
19, 493
62, 538
43, 535
19, 003
61,514
43, 093
18, 421
61,313
42, 894
18, 419
62, 325
43, 379
18, 946
61, 789
43, 182
18, 607
62, 803
43, 508
19, 294
do
__do
do
do
. do
do
59, 731
42, 186
17, 545
8,062
51, 669
3,057
61, 482
43, 229
18, 253
9,046
52, 436
3,384
61, 214
43, 582
17, 632
8,440
52, 774
3,213
62, 367
44, 154
18, 213
8,160
54, 207
2,500
61, 226
43, 244
17, 982
7,811
53,415
2,341
61, 764
43, 096
18, 668
8,491
53, 273
1,940
61, 271
42, 710
18, 561
7,551
53, 721
2,240
60, 308
42, 076
18, 232
6,234
54, 075
2,229
59,010
41, 433
17, 577
6,018
52, 993
2, 503
58, 905
41, 300
17, 605
5, 930
52, 976
2,407
60, 179
42, 102
18, 077
6, 393
53, 785
2,147
60, 044
42, 154
17, 890
6,645
53, 400
1,744
61, 193
42, 558
18, 635
7,440
53, 753
1,609
Not in labor force
do
46, 500
44. 526
45. 064
44. 718
46. 010
45. 704
45. 782
47 A1Q
4fi R28
46 fi/>7
47 ftfS
47 OQ9
4fi 09Q
r
Revised.
v Preliminary.
{Revisions in the adjusted indexes of department-store sales for various periods prior to 1949 are shown for the indicated districts (except New York. Richmond, and San Francisco) on
p. 24 of the April 1950 SURVEY; revised data for San Francisco for 1919-48 appear on p. 21 of the May 1950 SURVEY; revisions for New York and Richmond for 1946-January 1949 are available
upon request. Current revisions for Dallas are tentative, pending completion of the revision for earlier periods. Department-store sales and stocks for the U. S. reflect all revisions in data
for the districts and, therefore, are subject to further revision. Figures for wholesale trade have been revised back to 1939; monthly figures for 1946-48 and annual data beginning 1939 are shown
on pp. 18-20 of the October 1949 SURVEY; unpublished revisions are available upon request.
§ Data beginning April 1950 have been adjusted to the decennial census count and are not strictly comparable with preceding figures. Revisions prior to April 1950 will be available later.
SURVEY OF CURRENT BUSINESS
July 1051
Unless otherwise stated, statistics through
1948 and descriptive notes are shown in the
1949 Statistical Supplement to the Survey
S-ll
1950
May
June
July
August
1951
September
October
November
December
January
February
March
' 45, 390
15,978
r
8, 877
7,101
'930
106
73
"402
r
45, 856 ' 45, 975 p 46, OB8
' 16, 031 ' r15, 942 P 15, 806
'T 8, 975
8, 985
P 8, 938
7, 056
' 6, 957 v 6, 8f>8
'924
'908
•P 904
106
105
P 105
72
68
382
397
v 374
April
May
EMPLOYMENT AND POPULATION— Continued
EMPLOYMENT— Continued
Employees in nonagricultural establishments: t
Total, unadjusted (U. S. Dept. of Labor)
thousands..
Manufacturing
do
Durable-goods industries
do
Nondurable-goods industries .
do
Mining, total
_ __.
_
___
..do __
Metal cf
do
Anthracite
do
Bituminous coalcf
do
Crude-petroleum and natural-gas production
thousands. _
Nonmetallic mining and quarrying
do
Contract construction
do_
Transportation and public utilities
do
Interstate railroads
do
Local railways and bus lines
_.do _
Telephone
do
Telegraph
... _ _ _ . _ _
__do_.
Gas and electric utilities
do
Trade
.
.. do _.
Wholesale trade
do
Retail trade
do ._
General-merchandise stores
do ...
Food and liquor stores
. do..
Automotive and accessories dealers. -do
Finance
do
Service __
.
...
do ._
Hotels and lodging places
do
Laundries
... ..do _.
Cleaning and dyeing plants
do
Government
do
Total, adjusted (Federal Reserve)
Manufacturing
_
_
Mining
Contract construction
Transportation and public utilities
Trade . _ _
Finance
Service _ _
Government
._
.do
_.do_
do
do
do
do.
do
do
...do ...
Production workers in manufacturing industries:!
Total (U. S. Dept. of Labor)
thousands
Durable-goods industries _
do _ _ _
Ordnance and accessories
do
Lumber and wood products (except furniture)
thousands
Sawmills and planing mills _ . .do ._
Furniture and
fixtures
do
Stone, clay, and glass products
do
Glass and glass products
do
Primary metal industries
do
Blast furnaces, steel works, and rolling
mills
thousands. .
Primary smelting and refining of nonferrous metals
_ _ .thousands. _
Fabricated metal prod, (except ordnance, machinery, transportation equipment)
thousands. _
Heating apparatus (except electrical) and
plumbers' supplies
thousands. _
Machinery (except electrical)
do
Electrical machinery
do
Transportation equipment
. . do
Automobiles
do
Aircraft and parts _ _
do
Ship and boat building and repairs_-_do
Railroad equipment
._
.do _
Instruments and related products
do
Miscellaneous mfg. industries
do
Nondurable-goods industries
do__
Food and kindred products
do
Meat products
do
Dairy products ,
do
Canning and preserving
do
Bakery products
do
Beverages
do___
Tobacco manufactures..
do
Textile-mill products _ _
do
Broad-woven fabric mills
do
Knitting mills.
do_
Apparel and other finished textile products _. .
.
._ thousands _
Men's and boys' suits and coats
do
Men's and boys' furnishings and work
clothing
thousands
Women's outerwear. _
__
do
Paper and allied products
do
Pulp, paper, and paperboard mills.__do
Printing, publishing, and allied industries
thousands. Newspapers
..
do
Commercial printing
do
43, 311
14,413
7,809
6,604
940
100
76
413
43, 945
14, 666
7,964
6,702
946
102
75
410
44, 096
14, 777
7,978
6,799
922
103
74
382
45, 080
15, 450
8,294
7, 156
950
103
75
408
45, 684
15, 685
8,423
7,262
946
103
75
407
45, 898
15, 827
8,618
7,209
939
102
74
406
45, 873
15, 765
8, 664
7,101
938
103
74
404
46, 595
15, 789
8,717
7,072
937
104
73
405
45, 246
15, 784
8,742
7,042
932
105
73
403
254
97
2,245
3,885
1,296
149
611
47
516
259
100
2,414
4,023
1,407
147
615
47
522
262
101
2,532
4,062
1,414
148
620
47
530
261
103
2,629
4,120
1,441
146
623
47
532
259
103
2,626
4,139
1,458
146
622
48
530
256
102
2,631
4,132
1,462
145
621
43
525
255
102
2, 571
4, 123
1, 465
145
615
48
524
257
98
2,403
4, 125
1, 460
145
620
49
522
'253
98
2,281
4,072
1,428
145
618
48
521
9,326
2,479
6,847
1,412
1,204
714
1,812
4,790
451
354
150
5,900
9,411
2,502
6,909
1,411
1,205
733
1,827
4,826
482
362
156
5,832
9,390
2,528
6,862
1,372
1,203
746
1,831
4,841
515
363
152
5,741
9,474
2, 582.
6,892
1,387
1,200
749
1,837
4,827
512
359
147
5,793
9,641
2,605
7,036
1,474
1,210
743
1,827
4, 816
475
358
150
6,004
9,752
2,625
7,127
1,539
1,219
741
1,821
4,757
441
356
151
6,039
9,898
2, 618
7,278
1, 654
1,242
746
1,820
4, 723
433
353
149
6,037
10, 443
2, 616
7,827
2, 052
1, 264
753
1,828
4, 694
430
353
147
6,376
9,592
2,587
7,005
1,459
1.244
743
1,831
4,666
429
354
146
6,088
43, 578
14, 629
941
2,223
3,888
9,459
1,803
4, 766
5,869
44, 010
14, 802
943
2,299
3,995
9,532
1,809
4,778
5,852
44, 259
14, 977
915
2,366
4,021
9, 556
1,804
4,769
5,851
44, 914
15, 333
942
2,434
4,073
9,651
1,819
4,779
5,883
45, 196
15, 444
942
2,454
4,119
9,650
1,836
4,768
5,983
45. 408
15, 606
937
2,506
4,138
9,630
1,839
4,733
6,019
45, 501
15, 635
937
2,521
4,126
9,620
1,838
4,747
6,077
45, 605
15, 692
938
2,452
4,125
9,692
1,846
4,741
6,119
45, 804
15, 852
939
2,507
4,107
9,722
1,840
4,737
6, 100
' 46, 078 ' 46, 274 ' 46, 387 P 46, 348
068 ' 16, 089 P 16, 034
' 16, 009 ' 16,
T
931
'910
'939
p 905
r
' 2, 560 ' 2, 581 P 2, 556
2, 503
4,145
4, 153 p 41, 137
'4,117
' 9, 769 ' 9, 756 ' 9, 758 p 9, 738
T
1,854
1, 848
' 1, 857 P 1, 868
4,730
' 4, 728
4,744
P 4, 763
6,230
6,165
6,294
P 6, 347
11,841
6,456
19
12, 066
6,596
19
12, 151
6,597
19
12, 802
6,900
20
13, 016
7,013
22
13, 133
7,186
22
13, 044
7,210
23
13, 056
7,254
24
13, 018
7,256
25
' T13, 186
7, 371
27
723
430
302
432
116
1,026
741
437
303
441
118
1,050
750
444
303
440
114
1,054
783
465
319
459
122
1,086
790
468
327
458
117
1,105
785
462
329
471
127
1,117
773
452
327
477
129
1,126
754
440
326
474
128
1,142
739
429
321
473
128
1,149
'736
'428
324
'473
r
128
1,153
529
538
542
550
552
554
556
559
'559
46
46
45
46
46
45
47
47
47
742
769
773
814
837
850
850
852
847
119
1,022
606
1,045
736
185
67
48
176
362
122
1,033
615
1,078
765
187
68
49
180
367
120
1,032
620
1,070
757
188
68
48
178
358
132
1,060
655
1,118
781
199
79
48
187
399
137
1,050
673
1,134
788
209
76
49
199
418
137
1,104
710
1,157
795
225
76
50
205
436
135
1,133
721
1,139
760
239
76
52
209
432
133
1,163
724
1,160
767
'252
79
52
211
424
130
1,192
711
1,175
767
r
264
83
52
211
413
132
' 1, 215
716
' 1, 233
791
' 288
95
49
'215
'427
134
' 1, 228
724
' 1,
259
r
800
r
298
96
54
'218
'429
133
' 1, 234
' 717
' 1, 244
777
308
94
55
'221
'422
5,385
1,090
227
108
127
193
146
76
1,162
573
213
5,470
1,141
' 232
114
151
191
157
75
1,174
580
212
5,554
1,231
235
116
223
194
164
75
1,160
571
209
5,902
1,331
236
114
302
192
169
82
1,224
595
227
6,003
1,350
236
107
324
194
159
89
1,255
606
233
5,947
1,260
240
102
226
196
149
89
1,264
607
236
5,834
1,196
244
100
171
193
149
84
1,262
606
234
5,802
1,155
254
97
143
190
146
83
1,258
604
234
5,762
1,120
251
95
132
188
'147
80
1,257
602
232
' 5, 815
' 1, 099
238
95
r
127
188
'145
80
1,269
604
236
' 5, 765
' 1, 097
233
99
'125
190
147
78
1,227
569
236
' 5, 666
' 1, 087
229
103
129
190
144
' 76
' 1, 217
570
230
1,115
' 141
1,107
'141
' 1, 047
139
r
r
552
46
r
r
r
' 252
97
' 2, 228
' 4, 082
1,429
144
623
48
'520
250
99
' 2, 330
4,110
1,449
T
144
626
48
519
250
103
' 2, 478
4,132
1,462
144
630
48
519
' 9, 554
' 2, 593
' 6, 961
1, 431
1,257
'735
r
1, 839
' 4, 657
432
351
145
6,122
' 9, 707
' 2, 587
' 7, 120
'1,510
1,264
'735
1,854
4,683
436
352
150
6,217
' 9, 613
' 2, 576
7, 037
' 1, 444
' 1, 261
'738
' 1, 866
4,744
446
353
153
6,292
r
r
852
v 106
P 2, 582
P 4, 134
P
P
P
P
P
9, 601
2, 571
7, 030
1, 430
1, 252
P 738
P 1,877
P 4, 787
p 6, 377
r 13, 205 ' 13, 104 p 12, 955
' 7, 440 ' 7, 438 P 7, 387
29
'30
P30
'731
' 428
326
'480
130
1,158
r
561
r
47
858
'751
441
'318
'484
132
' 1, 159
P753
P306
P486
P 1, 161
561
47
' 858
976
129
976
135
981
127
1,089
138
1,099
137
1,100
138
1,056
137
1,064
137
1,070
138
239
254
392
202
238
248
399
205
232
266
396
204
252
307
410
207
254
305
418
210
254
297
421
210
253
275
427
211
251
296
428
212
251
303
423
209
259
317
423
209
263
305
424
209
262
206
427
213
498
149
164
500
150
166
499
150
164
504
150
165
510
151
167
514
150
170
515
150
170
518
152
171
510
149
170
510
150
'170
'oil
150
'170
'509
151
168
P848
p 1, 245
p 706
p 1, 221
P 221
p 410
P 5, 508
p 1, 097
P 75
p 1, 190
P 1, 000
P 426
P509
SURVEY OF CURRENT BUSINESS
S-12
Unless otherwise stated, statistics through
1948 and descriptive notes are shown in the
1949 Statistical Supplement to the Survey
July 1!).'
1951
1950
May
June
July
August
Septem-
ber
October
Novem-
ber
Decem-
ber
January
Febru-
ary
March 1
April
May
EMPLOYMENT AND POPULATION—Continued
EMPLOYMENT—Continued
Production workers in mfg. industries!— Con.
Total (U. S. Dept. of Labor)— Continued
Nondurable-goods industries — Continued
Chemicals and allied products
thousands-Industrial organic chemicals
do
Products of petroleum and coal
do
Petroleum refining
-- do __
Rubber products
do
Tires and inner tubes
_ - do__ _
Leather and leather products
do
Footwear (except rubber)
__do._
Manufacturing production -worker employment
index, unadjusted (U. S. Dept. of Labor)!
1939 = 100-M ami factoring production-worker employment
index, adjusted (Federal Reserve)!
1939 = 100-.
Miscellaneous employment data:
Federal and State highways, total§_-_.- number-Construction (Federal and State)
do
Maintenance (State)
.. do
Federal civilian employees:
United States
thousands-Washington, D.C., metropolitan area_--do
Railway employees (clas°> I steam railways) :
Total
thousands. _
Indexes:
Unadjusted
1935-39=100.Adjusted
- do. ..
485
148
177
136
194
86
335
218
482
150
181
138
199
88
343
224
479
152
182
139
200
88
351
230
491
155
193
147
208
90
370
237
506
158
189
145
215
92
372
237
523
159
190
147
219
92
367
230
521
160
191
148
222
93
360
226
524
161
191
147
222
92
359
229
526
163
190
147
222
91
364
234
532
163
191
148
'222
91
'374
239
144. 5
147. 3
148.3
156.3
158.9
160.3
159.2
159. 4
158.9
'161.0
147.1
148.9
150. 9
155.0
156.0
157.7
157.7
158. 1
159. 7
' 161. 3
282, 425
108. 956
121, 802
312, 091
129, 051
128, 470
327, 886
141, 983
130, 168
336, 600
149, 185
130, 714
327, 953
145, 988
126, 664
317, 566
140, 543
123, 493
291, 399
116, 639
122, 681
250, 137
79, 857
118, 487
228, 239
62, 181
114, 450
1,851
213
1,819
214
1,839
215
1,913
218
1,945
219
1,977
222
2,005
226
2,024
228
2,082
234
2,146
240
1,163
1,272
1,279
1,302
1,315
1,324
1,322
1,313
1,286
1,287
' 1, 309
P 1,321
p 1, 325
125. 1
127.1
122.9
127.8
122.8
' 125. 9
p 124. 7
p 127. 9
P 126. 0
P 128. 1
p 126. 5
p 127. 0
'538
167
192
149
220
88
371
237
'536
168
194
150
r
219
88
r
354
226
' 161. 2
' 160. 0
161.5
pl9P211
*>32<
p 158. 1
'161.7
' 221, 485 p 229, 474 P 252. 343
' 56, 363 p 63, 676 p 86, 21 6
113, 856 * 114, 118 P 114,672
2,196
244
2,240
r
247
P 2, 273
111.0
111.5
121.6
120.0
122.3
119.7
124.5
121.9
125.8
122.8
126.6
122.5
126.3
125.2
348.0
362.7
367.5
394.4
403.2
415.8
414.6
426. 0
424.0
' 430. 0
' 435. 5
' 433. 3
39.9
40.8
40.7
40.5
41.3
40.7
40.5
41.1
42.6
41.2
41.8
42.6
41.0
41.7
43.1
41.3
42.1
43.2
41.1
41.8
43.4
41.4
42.2
42.5
41.0
41.5
42.0
40.9
41.6
'42.7
'41.1
'41.9
'42.8
'41.0
'42.0
'42.8
P40.6
Ml. 7
P43.7
40.7
40.5
41.2
40.8
40.5
40.5
41.6
41.6
41.8
41.1
40.2
40.8
41.1
40.9
41.0
40.9
39.5
40.7
42.0
41.9
42.8
41.6
39.8
41. 1
41.2
40.1
42.6
41.5
39.0
41.4
41.9
41.8
42.6
42.5
41.4
41.9
41.0
40.7
42.6
42.3
41.3
41.8
41.4
41.0
42.3
42.2
41.0
42.3
40.5
40.0
41.8
41.6
40.6
41.6
'40.5
39.9
'42.2
41.3
'40.3
41.1
'40.6
40.1
42.4
'41.9
'41.2
41.7
'41.8
41.4
'41.2
'42.1
41.6
'42.0
Ml. 8
39.7
39.8
39.9
40. 1
40.2
40.8
40.8
41.1
40.6
'40.0
41.0
41.4
PAYROLLS
Manufacturing production-worker payroll index,
unadjusted (U. S. Dept. of Labor) t - - - 1939=100-LABOR CONDITIONS
Average weekly hours per worker (U. S. Dept. of
Labor) :t
All manufacturing industries
hours. .
Durable-goods industries
__
do
Ordnance and accessories
do
Lumber and wood products (except furniture)
- __.-__-.
hours. .
Sawmills and planing mills
do
Furniture and fixtures do_ __
Stone clay and glass products
do
Glass and glass products
-do
Primary metal industries
do
Blast furnaces, steel works and rolling
mills
hours
Primary smelting and refining of nonferrous
metals
hours
Fabricated metal prod, (except ordnance, machinery, transportation equipment) hours. Heating apparatus (except electrical) and
plumber's supplies
hours
Machinery (except electrical)
. do
Electrical machinery .. _
do
Transportation equipment
do
Automobiles
do
Aircraft and parts
do
Ship and boat building and repairs_--do
Railroad equipment
do
Instruments and related products
do
Miscellaneous mfg. industries
do
Nondurable-goods industries
Food and kindred products
M^eat products
Dairy products
Canning and preserving
"Bakery products
Beverages
Tobacco manufactures
Textile-mill products
Broad-woven fabric mills
Knitting mills
do
do_ _.
do
do
do
do
do
. do
do
do
do
Apparel and other finished textile products
hours..
Men's and boys' suits and coats
do
Men's and boys' furnishings and work
clothing
hours
TVf omen's outerwear
do
Paper and allied products
do
Pulp, paper, and paperboard mills,- .do
Printing, publishing, and allied industries
hours _.
Newspapers
do
Commercial printing
do
Chemicals and allied products
do
Industrial organic chemicals
do
Products of petroleum and coal
do
Petroleum Defining
do
Rubber products
do
Tires and inner tubes
do
Leather and leather products
_ _ _ do
Footwear (except rubber)
do
MO. 3
M2. 1
Ml. 2
40.8
40.9
40.3
40.9
41.2
41.5
41.0
41.7
41.5
'41.3
'41.6
42.2
40.7
41.5
41.1
42.1
42.1
42.3
41.9
42.4
41.8
'41.7
42.1
'42.0
40.3
41.3
40.8
41.0
41.4
40.8
38.4
39.8
40.4
40.3
40.7
41. 5
40.4
42.0
42.8
40.7
38.3
39.2
40.7
40.5
41.2
41.6
40.6
41.5
42.1
41.2
38.1
39. 1
40. 9
40.3
41.9
42.3
41.0
42.0
42.3
42.4
39.2
39.5
41.7
41.6
42.3
42.4
41.4
40.9
40.6
42.7
38.3
40.4
42.5
42.1
42.4
42.9
42.1
41.0
41.1
41.9
38.3
40.0
42.5
42.3
41.6
43.0
41.8
40.1
39.5
42.4
38.7
40.2
42.4
42.2
42.1
43.7
41.9
41.4
40.9
43.3
39.9
40.9
42.6
41.7
41.4
43.4
41.4
39.9
38.7
43.7
38.7
41.0
41.8
41.3
41,5
43.5
' 41. 3
'40.8
'39.9
'43.3
'40.4
'40.8
42.2
41.6
41.9
43.7
'41.4
'41. 1
'40.1
'43.9
'39.9
41.2
'42.3
41.6
41.6
'43.8
41.5
'40.8
39.6
44.0
39.6
41.3
'42.4
41.3
38.9
41.0
40.7
44.3
37.2
41.6
41.1
36.7
37.9
38.5
35.0
39.5
41.8
41.3
45.0
38.9
41.9
42.0
38.3
38.7
39.2
36.2
39.8
42.3
41.8
45.3
41.4
41.7
42.3
38.4
39.0
39.5
37.0
40.5
41.9
40.7
45.0
40.6
41.8
41.3
39.5
40. 5
40.8
39.2
40.1
42.0
41.7
44.7
44.1
41.2
41.2
39.2
40.7
41.1
38.9
40.3
41.6
40.8
44.5
40.5
41.4
41.0
38.3
40.6
40.9
39.2
40.3
41.9
43.4
44.1
38.6
41.3
40.9
37.8
40.7
41.1
38.7
40.5
42.3
45.2
44.3
37.4
41.6
40.6
38.9
40.8
41.4
38.1
40.2
41.8
42.8
44.1
38.3
41.3
41.2
38.7
40.6
41.3
37.9
40.0
'41.0
'39.9
44.1
'37.8
'41.5
40.3
37.9
40.8
41.2
r
38.8
'40.1
'41.1
40.7
44. 5
'37.2
41.6
40.6
'36.8
40.5
41.2
38.1
••39.7
41.2
41.1
44.3
38.1
41.6
40.3
'36.9
'39.8
40.8
36.7
^39.2
Ml. 4
35.7
36.7
35.8
36.7
36.2
36.9
37.6
37.7
35.7
35.4
37.3
37.9
36.9
37.9
36.5
37.7
36.9
37.6
'37.5
r
38.0
r37.3
38.4
'36.5
37.2
,35.4
35.9
34.6
42.3
43.2
36.2
33.8
43.0
43.8
36.1
34.7
43.3
44.0
38.0
36.2
44.0
44.6
37.4
32.2
44.0
44.3
38.3
34.7
44.0
44.5
37.7
34.6
44.4
37.0
35.1
44.5
44.9
37.0
36.0
43.8
44.7
'37.4
'36.7
43.4
r
44.5
37.8
36.0
'43.7
44.7
36.9
35.2
' 43. 6
44.7
38.7
37.3
39.8
41.2
40.5
40.6
39.9
41.2
41. 1
35.4
34.2
38.7
37.2
39.6
41.4
40.8
41.0
40.2
41.4
40. 6
37.2
36.4
38.5
36.6
39.6
41.2
40.7
41.6
41.0
41.2
40.4
38.1
37.7
38.9
36.5
40.1
41.6
40.7
40.6
39.4
41.8
40.8
39.2
38.8
39.2
36.9
40.6
41.8
40.8
41.7
41.2
41.9
40.9
38.1
37.6
39.0
36.8
39.9
42.0
40.9
41.6
41.1
41.9
40.2
37.8
36.7
39.2
37.2
40.1
42.0
41.2
41.2
40.7
41.5
40.1
37.5
36.0
39.8
38.1
41.0
42.1
41.2
41.2
40.7
41.6
39.9
38.3
37.4
38.9
35.8
40.6
42.0
41.0
41.0
40.7
40.4
38.4
38.7
38.3
'38.4
'36.0
39.4
'41.8
40.8
'40.6
'40.2
'38.9
35.5
'39.2
'38.8
'39.0
36.7
40.3
'42.0
41.2
40.5
40.1
'40.1
37.4
'38.5
38.1
38.9
36.8
40.0
41.8
41.1
'41.1
40.8
'39.8
36.5
' 36. 4
35.5
44. 1
Ml. 8
P 43. 6
Ml.l
MO. 9
P 42.4
P40.7
P 37. 1
P33.8
P43.2
»38.9
Ml. 6
P40.8
P39.6
P35.3
r
Revised.
*> Preliminary,
t Revised series. See note marked "t" on p. S-ll. The a<[justed ma nufacturin g employrrlent index was furthei• revised in the Noveinber
1949 are available upon request.
§ Total includes State engi neering, su pervisory, and admirlistrative e uployees n<3t shown s<jparately.
1950 SURVEY; re visions for January li)39-August
SUEVEY OF CTJRKENT BUSINESS
July 1951
Unless otherwise stated, statistics through
1948 and descriptive notes are shown in the
1949 Statistical Supplement to the Survey
S-13
1951
1950
May
June
July
August
September
October
November
December
January
February
March
April
May
EMPLOYMENT AND POPULATION—Continued
LABOR CONDITIONS—Continued
Average weekly hours per worker, etc.f— Continued
Nonmanufacturing industries:
Mining:
Metal
hours
Anthracite
do
Bituminous coal
_
. . . __do
Crude-petroleum and natural-gas production:
Petroleum and natural-gas production
hours .Nonmetallic mining and quarrying
do
Contract construction
do
Nonbuilding construction
do
Building construction
do
Transportation and public utilities:
Local railways and bus lines
__ _-do
Telephone
do
Telegraph
_
do
Gas and electric utilities
do
Trade:
Wholesale trade ..
do. ..
Retail trade:
General-merchandise stores
do
Food and liquor stores
do
Automotive and accessories dealers do
Service:
Hotels, year-round __ __
do
Laundries
do
Cleaning and dyeing plants
__ _ do
Industrial disputes (strikes and lock-outs) :
Beginning in month:
Work stoppages
_
number Workers involved
thousands
In effect during month:
Work stoppages number-Workers involved
thousands. .
Man-days idle during month
_ d o __
Percent of available working time
41.6
34.7
34.1
41.6
32.6
34.7
41.1
34.8
34.6
41.9
33.2
35.5
42.2
34.5
35.5
43.9
37.2
36.1
43.0
31.0
36.4
43.9
32.8
38.5
43.7
35.9
37.6
M3.7
'30.2
'34.1
M3.3
'24.0
'33.5
43.8
22.2
34.0
40.0
44.4
37.3
40.7
36.5
40.0
44.9
38.0
42.0
37.0
41.6
44.6
37.9
41.5
36.9
40.3
45.2
38.6
42.7
37.6
40.5
45.1
37.7
41.5
36.7
41.4
45.8
38.5
42.5
37.4
40.6
44.9
38.0
40.9
37.3
40.2
43.5
'37.3
40.2
36.7
40.6
43.3
37.1
39.4
36.7
MO. 5
42.0
'36.7
'37.7
'36.5
40.6
43.4
'37.3
'38.3
'37.0
41.2
45.0
38.5
40.1
38.1
44.8
38.9
45.4
41.3
45.3
39.1
44.9
41.5
45.1
39.4
45.0
41.6
44.8
39.3
45.0
41.5
45.1
39.6
44.6
41.6
45.3
39.4
44.8
41.8
45.6
38.0
44.4
41.8
46.3
39.1
44.8
42.0
45.9
38.9
44.5
41.8
M6.0
39.2
44.7
'42. 0
M5.6
38.9
44.6
Ml. 5
45.7
38.7
44.6
41.6
40.4
40.6
40.9
40.9
40.7
40.9
40.8
41.2
40.8
40.6
40.6
40.7
36.4
40.1
45.9
37.2
40.8
45.9
37.7
41.5
45.7
37.4
41.5
45.6
36.4
40.4
45.6
36.3
40.0
45.9
36.0
40.0
45.8
38.2
40.3
46.0
36.7
39.9
45.7
'36.3
'39.5
45.5
'35.8
39.3
45.4
35.8
39.6
45 4
44.1
41.7
43.0
43.8
42.0
43.0
43.8
41.5
41.4
44.0
40.6
40.0
43.8
41.3
41.6
44.0
41.0
41.0
43.6
40.8
41.2
43.9
41.2
41.1
43.4
41.0
41.4
M3.2
40.5
MO. 1
43.2
41.0
41.9
43.5
41.2
42.3
485
354
483
278
463
224
635
346
521
270
550
197
329
200
218
61
400
185
350
220
350
140
350
165
400
150
723
508
3,270
.44
768
373
2,630
.34
732
389
2,750
.39
918
441
2,666
.32
820
450
3,510
.48
801
330
2,590
.32
605
308
2,050
.27
423
114
912
.12
550
215
1,200
.15
550
300
1,700
.25
550
280
2,300
.29
550
235
1,850
.25
580
250
1,750
.22
U. S. Employment Service placement activities:
Nonagricultural placements . _ thousands. _
Unemployment compensation:
Initial claims .
__
do
Continued claims
do. __
Benefit payments:
Beneficiaries, weekly average
do_ _ _
Amount of payments
thous. of dol..
Veterans' unemployment allowances:
Initial claims
do
Continued claims
__ __
do
Claims filed during last week of month . ...do
Amount of payments
thous. of dol_.
489
494
486
624
618
612
515
421
486
438
513
552
610
1,367
6,702
1,104
5,827
971
5,115
641
4,424
558
3,293
720
3,141
907
3,520
1,051
3,873
1,080
4,923
770
3,845
719
3,627
983
3,534
908
3,977
1,567
138, 778
1,388
119, 430
1,158
99,714
983
89, 681
806
64, 458
652
57, 533
734
62, 389
832
66, 969
983
91, 560
883
71, 369
807
71, 584
740
62, 294
773
70, 799
14
160
33
3,185
18
128
27
2,526
13
112
25
2,209
9
92
19
1,988
5
55
10
1,126
4
30
6
629
5
24
5
487
5
25
6
464
4
27
6
554
3
19
5
391
2
15
3
315
1
9
2
197
1
6
1
146
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_ __
4.4
3.1
.3
1.1
1.6
.1
4.8
3.0
.3
.9
1.7
.1
4.7
2.9
.3
.6
1.8
.2
6.6
4.2
.4
.6
2.9
.3
5.7
4.9
.4
.7
3.4
.4
5.2
4.3
.4
.8
2.7
.4
4.0
3.8
.3
1.1
2.1
.3
3.0
3.6
.3
1.3
1.7
.3
5.2
4.1
.3
1.0
2.1
.7
4.5
3.8
.3
.8
2.1
.6
4.6
4.1
.3
.8
2.5
.5
4.5
M.6
.4
' 1.0
2.7
.5
*4.5
"4.9
P .4
57.54
61.57
61.66
58.85
62.86
61.90
59.21
63.01
64.92
60.32
64. 33
66.12
60.64
65.14
67.41
61.99
66.39
68.64
62.23
66.34
70.53
63.88
68.32
68.34
63.76
67.65
69.55
' 63. 84
' 68. 18
' 70. 92
' 64. 57
' 69. 26
' 72. 59
' 64. 74
' 69. 76
' 71. 60
v 64. 35
r> 69. 39
p 73. 85
54.38
54.19
51.50
57.28
59.78
65.57
56.28
56.08
52.50
58.12
59.74
66.50
56.27
55.95
52.03
58.57
60.24
66.95
58.30
57.95
54.87
59.40
59.10
67.36
57.84
57.69
55.42
60.88
61.31
69.10
58.83
58.56
56.27
63.11
65.66
69.81
57.03
56.53
56.87
63. 66
67.03
70.14
57.59
56.83
56.77
63.60
65.89
74.36
55.73
54.84
56. 93
63.48
66.10
74.42
r
r
r
P 60. 36
65.86
66.63
67.83
67.37
69.30
68.87
69.03
75.21
76.41
' 74. 16
r
76. 59
78.04
61.98
62.54
62.83
63.15
64.44
66.40
67.73
69.47
70.67
' 69. 18
' 69. 64
70. 69
T> 1.3
"2.8
v .4
WAGES
Average weekly earnings (U. S. Department of
Labor):f
All manufacturing industries-. - _
dollars
Durable-goods industries
do
Ordnance and accessories
do
Lumber and wood products (except furniture)
dollars ._
Sawmills and planing mills.
do
Furniture and
fixtures
_
do
Stone, clay, and glass products
do
Glass and glass products . _
__do
Primary metal industries . . . do
Blast furnaces, steel works, and rolling mills
dollars _ _
Primary smelting and refining of nonferrous
metals
dollars_.
Fabricated metal prod, (except ordnance, machinery, transportation equipment)
dollars..
Heating apparatus (except electrical) and
plumbers' supplies
dollars..
Machinery (except electrical)
.
do ._
Electrical machinery
...do
r
56. 13
55. 30
58. 15
63. 15
65. 04
73. 28
'
'
'
'
'
55. 78
55. 06
58. 94
64. 57
66. 54
74. 85
59. 82
59.04
' 57. 47
' 65. 13
67.23
' 75. 77
P 56. 66
' 65. 72
*> 74. 28
60.89
62.87
62.55
64.79
65.72
66.66
66.20
68.26
67.80
' 68. 18
' 69. 51
' 69. 51
p 69. 10
61.30
65.09
59.28
62.11
65.69
£8.62
63.28
66.35
59.44
65.53
67.98
60.15
66.83
68.94
61.48
68.09
71.00
64.12
67.27
72.03
64.33
68.88
74.20
65.15
68. 85
74.47
64.42
' 69. 60
' 75. 08
' 64. 80
' 70. 94
' 76. 21
' 65. 49
70. 39
' 76. 52
66. 11
p 76. 43
P 65. 64
72.87
75.21
68.94
64.84
65.29
61.13
54.87
72.39
73.81
71.18
62.89
68.72
63.58
64.04 1
73.02
75.21
70.18
62.89
69.04
64.77
56.98
71.78
72.76
71.78
64.47
69. 51
65.47
57.01
75.18
76.28
75.08
66.67
72.52
66.75
57.50
72.06
71.48
76.78
64.24
72.41
65.79
57.37
' 74. 05
' 74. 29
' 75. 86
' 68. 80
'71.16
' 67. 06
' 58. 41
'
'
'
'
'
'
'
' 74. 58
74.25
77.31
67.56
76. 86
' 67. 92
' 58. 07
69.62
72.53
71.71
Transportation equipment
do
71.66
Automobiles
do
75.76
74.35
65.61
65.32
Aircraft and parts
do
66.54
63.21
Ship and boat building and repairs^ _do
62.39
64.20
64.99
64.56
Railroad equipment ... do
64.40
Instruments and related products
do
58.34
58. 93
58. 98
Miscellaneous mfg. industries ... _ do_
52.47
52.69
52.47
Revised.
*» Preliminary.
fRevised series. See note marked "t " on p. S-l1.
'
'
'
'
'
75. 58
75. 83
77. 35
68. 03
75. 35
67. 72
58. 41
p 74. 48
p 68. 14
p 57. 47
SURVEY OF CURRENT BUSINESS
S-14
Unless otherwise stated, statistics through
1948 and descriptive notes are shown in the
1949 Statistical Supplement to the Survey
July 1951
1951
1950
May
June
July
August
September
October
November
December
January
February
March
April
May
EMPLOYMENT AND POPULATION—Continued
WAGES~Continued
Average weekly earnings, etc. f— Continued
All manufacturing industries— Continued
Nondurable-goods industries
dollars _ _
Food and kindred products
do
M^eat products
do
Canning and preserving
do
Bakery products
do
Beverages
do
Tobacco manufactures
do
Textile-mill products
- do
Broad-woven fabric mills
do
Knitting mills
do
Apparel and other finished textile products
dollars __
Men's and boys' furnishings and work
clothing
dollars
"Women's outerwear
do
Paper and allied products
do
Pulp, paper, and paperboard mills. ..do
Printing, publishing, and allied industries
dollars ..
Newspapers
do
Commercial printing
do
Chemicals and allied products
do
Industrial organic chemicals
do
Products of petroleum and coal
_ do
Petroleum refining
do
Rubber products
do
Tires and inner tubes
do
Leather and leather products
do_ _
Footwear (except rubber)
do
Nonmanufacturing industries:
Mining:
Metal
do
Anthracite
do
Bituminous coal
do
Crude-petroleum and natural-gas production:
Petroleum and natural-gas production
dollars. _
Nonmetalic mining and Quarrying
do
Contract construction
do
Nonbuilding construction
do
Building construction
do
Transportation and public utilities:
Local railways and bus lines
do
Telephone
do
Telegraph
do
Gas and electric utilities
do
Trade:
Wholesale trade
do
Retail trade:
General-merchandise stores
do
Food and liquor stores
do
Automotive and accessories dealers do
Finance:
Banks and trust companies
do
Service:
Hotels year-round
do
Laundries
do
Cleaning and dyeing plants
do
Average hourly earnings (U. S. Department of
Labor) :f
All manufacturing industries
dollars
Durable-goods industries,
_ . _
do__ _
Ordnance and accessories
do
Lumber and wood products (except furniture)
dollars
Sawmills and planing mills
do
Furniture and
fixtures.
do
Stone, clay, and glass products.
_.do.
Glass and glass products __ . . . do _
Primarv metal industries
do
Blast furnaces, steel works, and rollin g mills
dollars
Primary smelting and refining of nonferrous
metals
dollars
Fabricated metal prod, (except ordnance, machinery, transportation equipment)
dollars.
Heating apparatus (except electrical) and
plumbers' supplies
dollars
Machinery (except electrical)
do.-.
Electrical machinery
do _
Transportation equipment
Automobiles
_ _ _
Aircraft and parts
Ship and boat building and repairs
Railroad equipment
Instruments and related products
Miscellaneous mfg. industries
Nondurable-goods industries
Food and kindred products
Meat products
Dairy products.
.
Canning and preserving
Bakery products
Beverages
'Revised.
*> Preliminary.
do . _ _
do
do
do
do ..
do.__
do __
do
do_
do...
do
__do.do...
do_..
52.83
54.90
57.10
55.02
45.01
53.12
66.71
39.67
45.63
45.82
40.67
53.92
56.01
58.11
55.85
45.94
53.21
68.96
41.59
46.75
46.92
41.85
54.73
56.94
59.31
57.21
47.73
53.88
71.11
42.12
47.27
47.52
42.77
55.65
56.19
57.92
56.57
47.91
64.34
68.39
43.37
49.33
49.29
45.67
55.30
56.36
62.59
56.81
47.18
53.85
67.86
42.02
49.98
49.90
45.63
56.58
56.83
61.24
56.74
49.05
54.19
68.14
41.21
52.58
53.17
47.67
57.19
58.08
65.49
56.62
48.06
54.47
67.81
42.45
53.19
53. 68
47.91
58.44
59.85
69.92
57.68
46.82
55.04
68.78
43. 72
53. 57
54.36
47.24
58.<53
60.11
65.83
59.09
49.41
54.68
71.61
44.12
53. 59
54. 39
47.94
'
r
'
r
r
'
r
r
58. 32
59. 04
60. 25
59. 45
49. 84
55. 49
71. 13
43. 17
53.94
r 54. 22
r 49. 24
' 58. 55
' 59. 31
' 62. 11
59.99
' 48. 10
' 55. 58
' 71. 78
' 41. 99
' 53. 34
' 53. 77
48.43
' 58. 20
' 59. 66
62.76
59.67
49.42
56.08
71.49
' 42. 66
52.81
' 53. 98
46.72
41.27
48.92
41.89
48.99
43.22
49.22
46.06
51.08
43.09
47.75
45.51
51.77
44.50
52.57
45.88
55.57
47.42
55.23
r
48. 38
' 56. 32
' 47. 15
56.95
' 45. 04 P 43. 86
' 54. 76
35.29
45.57
58.08
61.82
35.55
45.87
60.03
64.21
35.34
49.62
61.36
65.74
37.43
54.01
62.74
66.99
37.18
46.43
63.10
66.89
38.38
50.94
63.27
67.20
38.53
48.37
64.92
69.00
38.59
51. 84
66.44
70.63
39.11
55.01
65.96
70.89
' 39. 68
' 56. 08
r 65. 36
' 70. 49
39.99
' 52. 52
' 66. 25
' 70. 94
38.86
48. 58
' 66. 27 p 65. 66
71.25
72.64
81.05
71.68
61.18
63.91
73.28
75.73
64.52
74.60
41.56
38.48
72.72
80.76
71.79
62.39
65.16
74.37
76.82
65.08
74.05
43.60
40.84
72.30
79.20
71.95
62.99
66.02
76.09
78.93
65.59
75.22
44.73
42.53
73.17
78.84
72.38
63.48
65.85
73.73
75.29
66.25
76.01
46.49
44.39
74.48
81.11
73.61
64.16
67.52
76.77
79.72
66.58
75.46
45.72
43.32
74.22
81.07
73.78
64.55
67.98
77.71
80.93
66.29
73.12
46.04
42.76
74.52
82.29
73.42
65.52
69.34
78.32
81.64
66. 52
73.70
45.94
42.23
76.42
85.42
75.60
66.43
69.75
78.32
81.03
68.76
76.21
47.26
44.02
74.22
79.12
74. 58
66.99
70.11
78.58
82.95
66.78
73.69
48. 30
45.88
74.23
r 79. 96
' 73. 24
' 67. 17
' 70. 26
r 78. 44
'81.28
' 63. 37
r 66. 95
' 49. 43
' 46. 99
' 75. 93
' 82. 28
' 75. 60
' 67. 79
'71.19
' 78. 53
' 81. 40
' 66. 08
'71.10
' 48. 78
' 46. 56
' 75. 82
82.91
74.84
' 67. 88
71.27
81.13
84.62
' 65. 63
69.17
' 46. 59
43.74
63.11
68.81
68.37
63.40
64.94
69.92
63.17
68.59
69.68
64.48
65.77
71.04
66.38
68.45
71.92
69.84
75.59
72.99
69.92
60.85
73.27
73. 53
65.14
77.77
74.33
71.33
76.63
' 73. 46
' 66. 65
' 75. 67
' 72. 92
' 52. 54
' 74. 60
74.33
48.33
76.16
70.88
59.45
72.74
71.71
72.93
71.08
60.39
73.76
73.75
73.82
75.59
60.92
74.06
73. 70
74.02
71.01
61.74
75.96
76.48
75.99
73.47
62.51
75.89
75.86
75.86
77.67
64.03
77.92
77.65
77.87
76.21
63. 31
77.52
75.42
78.07
75.58
62.12
77.36
75. 58
77.80
76.90
61.96
77.61
74.70
78.35
' 77. 15
' 76. 57
' 60. 77
'63.49
' 77. 51 ' 79. 54
72.20
' 73. 57
' 78. 55 '80.33
80.50
66.29
82.04
77.51
82.98
66.56
53.72
65. 38
65.17
67.41
54.19
64.21
65.99
67.47
54.96
64.13
66.52
66.84
54.71
63.99
65.65
67.42
55. 80
64.49
67.35
67.77
56.18
64.74
67. 93
68.26
54.04
64.25
68.68
69.96
56.30
65.05
71.31
' 70. 23
56.41
64.57
71.18
' 70. 66
' 57. 58
64.86
'71.36
' 70. 41
' 56. 52
64.63
' 70. 26
70.70
56.12
64.36
70.47
59.11
59.93
61.10
60.90
60.93
61.68
61.98
63.49
63.44
'63.62
' 63. 62
64.10
35.49
50.81
60.50
36.60
51.82
62.29
37.32
53.37
63.71
37.06
53.04
63.66
36.11
52.12
63.52
36.01
51.80
63.94
35. 24
52.40
63.07
37.02
52.91
63.53
38.02
53.15
64.48
' 37. 43
' 52. 69
' 65. 16
' 36. 48
52.62
' 65. 38
36.95
53.18
66.10
v 57. 78
* 60. 15
P 42. 92
P 51. 29
P 75. 97
p 68. 06
P 81. 11
P 65. 10
p 45. 15
45.54
45.42
46.34
46.36
46.75
47.78
48.18
48.66
49.28
' 49. 55
' 49. 46
49.83
33.34
35.74
43.69
33.33
36.33
44.03
33.51
35.61
42.02
33.92
34. 83
40.16
34. 30
35 93
42.56
34.67
35.79
42.15
34.74
35.86
42.23
35.16
36.38
42.29
34.89
36.70
43. 35
' 35. 04
' 36. 25
'41.78
34.65
' 36. 94
' 44. 20
35. 06
37.41
44.96
1.442
1.509
1.515
1.453
1.522
1.521
1.462
1.533
1.524
1.464
1.539
1.552
1.479
1.562
1.564
1.501
1.577
1.589
1.514
1.587
1.625
1.543
1.619
1.608
1.555
1.630
1.656
' 1. 561
' 1. 639
' 1. 661
' 1. 571
' 1. 653
' 1. 696
' 1. 579
' 1. 661
' 1. 673
p 1. 585
p I. 664
p 1. 690
1.336
1.338
1.250
1.404
1.476
1.619
1.353
1.348
1.256
1.414
1.486
1.630
1.369
1.368
1.269
1. 432
1.525
1.645
1.388
1.383
1.282
1.428
1.485
1.639
1.404
1.407
1.301
1. 467
1. 572
1.669
1.404
1.401
1.321
1.485
1.586
1.666
1.391
1.389
1.335
1.505
1.623
1.678
1.391
1.386
1.342
1.507
1.607
1.758
1.376
1.371
1.362
1.526
1.628
1.789
' 1. 386
' 1. 386
'1.378
' 1. 529
' 1. 614
' 1. 779
' 1. 374
'1.373
' 1. 390
' 1. 541
'1.615
' 1. 795
' 1. 431
1.426
' 1. 395
r
1. 547
1.616
' 1. 804
p 1. 444
1.659
1.674
1.700
1.680
1.724
1.688
1.692
1.830
1.882
' 1. 854
' 1. 868
1.885
1.519
1.529
1.559
1.544
1.564
1.600
1.652
1.666
1.703
' 1. 675
' 1. 674
1.675
p 1. 406
p 1. 561
p 1. 803
1.496
1.515
1.522
1.539
1.561
1.576
1.580
1.610
1.622
' 1. 635
' 1. 651
' 1. 655
p 1. 607
1.521
1.576
1.453
1.526
1.583
1.451
1.536
1.595
1.464
1.564
1.607
1.467
1.580
1.626
1.485
1.606
1.655
1.523
1.617
1.675
1.539
1.636
1.698
1.555
1.663
1.716
1.556
' 1. 677
'1.726
' 1. 569
' 1. 693
' 1. 744
' 1. 582
1.692
' 1. 747
' 1. 593
p 1. 753
p 1. 597
1.698
1.731
1.608
1.646
1.633
1.444
1.302
1.727
1.770
1.605
1.629
1.647
1.448
1.301
1.728
1.766
1.615
1.685
1.647
1.442
1.302
1.735
1.778
1.626
1.654
1.653
1.466
1.319
1.770
1.818
1.667
1. 642
1.701
1.496
1.331
1.781
1.830
1.675
1.642
1.726
1.524
1.347
1.790
1.842
1.693
1.666
1.729
1.544
1.351
1.816
1.865
1.734
1.671
1.773
1.567
1.379
1.806
1.847
1.757
1.660
1.766
1.574
1.389
'r 1. 815
1. 862
' 1. 752
'*!. 703
'1.744
' 1. 589
' 1. 404
' 1. 839
' 1. 891
' 1. 762
1.705
' 1. 829
' 1. 601
' 1. 404
' 1. 828
1.875
1.757
1.706
1.861
1.602
' 1. 406
p 1. 821
1.374
1.341
1.423
1.257
1.180
1.300
1.656
1.379
1.342
1.501
1.271
1.148
1.307
1.647
1.404
1.366
1.501
1.275
1.211
1.309
1.662
1.419
1.386
1.509
1.284
1.245
1.319
1.658
1.443
1.415
1.547
1.302
1. 252
1.323
1.694
1. 456
1.438
1.538
1.340
1.290
1.324
1.738
' 1. 458
' 1. 440
' 1.510
r
1. 348
r
1. 292
'1.337
' 1. 765
1.460
1.443
' 1. 526
1.348
' 1. 293
' 1. 336
' 1. 768
' 1. 466
' 1. 448
1.527
1.347
1.297
1.348
1.774
p 1. 474
p 1. 453
1.375
1.346
1.419
__
1.263
1.153
1.292
1.681
fRevised series. See note marked "f" on p. S-ll.
1.358
1.339
1.403
1.242
1.210
1.277
1.623
1.365
1.340
1.407
1.241
1.181
1.270
1.642
p 1. 607
p 1.412
SUEVEY OF CUKEENT BUSINESS
July 1951
Unless otherwise stated, statistics through
1948 and descriptive notes are shown in the
1949 Statistical Supplement to the Survey
S-15
1951
1950
May
June
July
August
Septem-
ber
October
Novem-
ber
Decem-
ber
January
Febru-
ary
March
April
May
EMPLOYMENT AND POPULATION—Continued
WAGES— Continued
Average hourly earnings, etc. f— Continued
All manufacturing industries — Continued
Nondurable-goods industries— Continued
Tobacco manufactures
dollars. _
Textile-mill products
do
Broad-woven fabric mills
do
Knitting mills
do
Apparel and other finished textile products
dollars _ _
Men's and boys' suits and coats
do
Men's and boys' furnishings and work
clothing
dollars
Women's outerwear
do _
Paper and allied products
do
Pulp, paper, and paperboard mills. _ _ d o
Printing, publishing, and allied industries
dollars. _
Newspapers
do
Commercial printing
do
Chemicals and allied products
__ _ do
Industrial organic chemicals
do _
Products of petroleum and coal
do _
Petroleum refining
__ _ _ _do
Rubber products
do
Tires and inner tubes
_ _
do _
Leather and leather products
do
Footwear (except rubber)
do
Nonmanufacturing industries:
Mining:
Metal
do
Anthracite
do
Bituminous coal
__ _
_do _ _
Crude- petroleum and natural-gas production:
Petroleum and natural-gas production
dollars
Nonmetallic mining and quarrying
do
Contract construction
do
Nonbuilding construction- .__ ._
_ do
Building construction
do
Transportation and public utilities:
Local railways and bus lines
do
Telephone
_
do
Telegraph _ . _ _ _ . _
__
do__
Gas and electric utilities
do
Trade:
Wholesale trade
do
Retail trade:
General-merchandise stores _ _ __
do
Food and liquor stores
do
Automotive and accessories dealers .do
Service:
Hotels, year-round
- _
_ do
Laundries
do
Cleaning and dyeing plants..
_ _
do
Miscellaneous wage data:
Construction wage rates (E. N. R.)-'§
Common labor
dol. per hr
Skilled labor
do
Farm wage rates, without board or room (quarterly) *
dol . per hr
Railway wages (average, class I)
do
Road-building wages, common labor
do
1.081
1.204
1.190
1.162
1.086
1.208
1.197
1.156
1.097
1.212
1.203
1.156
1.098
1.218
1.208
1.165
1.072
1.228
1.214
1.173
1.076
1.295
1.300
1.216
1.123
1.307
1.306
1.238
1.124
1.313
1.313
1.240
1.140
1.320
1.317
1.265
1.156
1.333
1.170
1.335
1.194
1.334
1.225
1.355
1.207
1.349
1.220
1. 366
1.206
1.387
1.257
1.474
1.285
1.469
.983
1.317
1.373
1.431
.982
1.357
1. 396
1.466
.979
1.430
1.417
1.494
.985
1.492
1.426
1. 502
.994
1.442
1.434
1.510
1.002
1.468
1.438
1.510
1.022
1.398
1.472
1.554
1.043
1.477
1.493
1.573
1.057
1.528
1.506
1.586
1.877
2.173
1.801
1.485
1.578
1.879
2. 171
1.813
1.507
1.597
1.878
2.164
1.817
1.529
1.622
1.881
2.160
1.805
1.526
1.618
1.900
2.198
1.813
1.535
1.655
1.903
2.203
1.849
1.537
1.662
1.901
2.212
1.831
1.560
1.683
1.920
2.242
1.844
1. 578
1.693
1.908
2.210
1.837
1.595
1.710
'
'
'
'
1.805
1.898
1.566
1.815
1.174
1.125
1.814
1.911
1.572
1.824
1.172
1.122
1.829
1.925
1.592
1. 862
1.174
1.128
1.816
1.911
1.585
1.863
1.186
1.144
1.841
1.935
1.589
1.845
1.200
1.152
1.868
1.969
1.582
1.819
1.218
1.165
1.901
2. 006
1.603
1.838
1.225
1.173
1.901
1.991
1. 653
1.910
1.234
1.177
1.941
2.038
1.653
1.919
1.248
1.198
1.932
' 2. 022
r
1. 629
r
1. 886
1. 261
r
1.211
1.517
1.983
2.005
1.524
1.992
2.015
1.537
1.971
2.014
1.539
1.981
2.001
1.573
1.984
2.026
1.591
2.032
2.022
1.626
1.963
2.013
1.675
1.986
2.020
1.701
1.987
2.038
r
r
1.772
1.339
1. 950
1.762
1.998
1.777
1.345
1.941
1.756
1.995
1.817
1.366
1.954
1.776
2.006
1.762
1.366
1.968
1.791
2.021
1.814
1.385
2.013
1.828
2. 067
1.876
1.398
2. 024
1.827
2.082
1.877
1.410
2.040
1.844
2.093
1.880
1.428
2.074
1.880
2.120
1.894
1.431
2.092
1.896
2.135
r
r
r
r
r
1. 905
1.447
2. 123
1.915
2. 152
1.486
1.381
1.440
1.578
1.488
1.386
1.430
1.590
1.496
1.395
1.425
1.599
1.492
1.392
1.422
1.603
1.495
1.409
1.446
1.619
1.496
1.426
1.445
1.625
1.497
1.422
1.447
1. 643
1.511
1.440
1. 452
1.670
1.530
1.450
1.451
1.690
r
r
1.463
1.476
1.494
1.489
1.497
1.508
1.519
1.541
1.555
.992
1.295
1.393
.979
1.310
1.377
.969
1.313
1.381
1.036
1.332
1.411
.801
.883
1.029
.804
.895
1.047
.975
1.267
1.318
.984
1.270
1.357
.990
1.286
1.354
.991
1.278
1.396
.992
1.290
1.393
' 1. 139
1. 322
1. 316
' 1. 269
'1.141
' 1.317
' 1. 305
1.271
' 1. 156
' 1. 327
1. 323
1.273
P 1.157
v 1. 322
' 1.290
'1.482
' 1. 264
1.483
' 1. 234
1.472
p 1.239
1.061
I . 528
' 1. 506
' 1. 584
1. 058
' 1. 459
'1.516
1. 053
1. 380
1.520
1. 594
P 1.520
1.933
2. 221
1. 859
1. 607
1. 722
1.947
' 2. 242
'1.876
' 1. 614
' 1. 728
' 1. 949
2. 253
1.871
' 1. 624
1.734
p 1. 953
'
'
'
'
'
r
' 1. 974
2. 074
' 1.649
1.895
' 1. 280
' 1. 232
v 1.988
T
r
r 1. 587
' 1. 681
2. 207
2. 219
1. 939
2. 030
1. 648
1. 901
1. 267
1. 222
' 1. 684
2. 189
' 2. 227
1.697
2.177
2.240
r
r
1. 886
' 1. 463
2 127
' 1. 921
2.171
1.954
1.473
2.131
1.933
2.178
1. 536
I . 469
1. 451
1.699
' 1. 544
r
1. 453
1.449
' 1. 693
1.547
1.450
1.443
1.694
T
1. 567
' 1. 567
1.575
r
1. 031
1.334
1. 432
' 1. 019
1.339
' 1. 440
1.032
1.343
1.456
.802
.901
1. 055
.806
.908
1.063
1.593
2 615
1.595
2 619
1.595
2 619
1.681
r
r
r
.811
r
9 1. 636
P 1.644
p 1. 279
.756
.857
1.016
.761
.865
1.024
.765
.858
1.015
.771
.858
1.004
.783
.870
1.023
.788
.873
1.028
.795
.879
1.025
1.511
2.485
1.528
2.517
1.538
2.524
1.561
2.544
1.561
2.554
1.568
2.565
1.574
2.571
1.574
2.577
1.585
2.604
1.558
1.555
1.579
1.20
1.552
1.586
1.566
1.23
1.587
1.603
1.585
1.30
1.659
383
312
383
325
453
356
470
369
479
381
456
387
417
364
356
551
361
592
1 986
998
958
40
339
650
323
700
310
739
129, 112
53 171
75 941
114, 898
45 477
QQ 421
116, 571
45 375
71 196
47 978
24, 150
46 883
23, 560
283
22 742
20 r>67
46, 883
20 748
18 901
r
'452
23 143
46.9
4.7 1 74
.73
r
r
. 895
1. 042
r
.79
.66
1. 608
o (529
78
1 23
FINANCE
BANKING
Acceptances and commercial paper outstanding:
Bankers' acceptances
mil. of dol
Commercial paper
do
Agricultural loans outstanding of agencies supervised by the Farm Credit Administration:
Total
mil. of doL
Farm mortgage loans, total
do
Federal land banks
do
Land Bank Commissioner
do
Loans to cooperatives
do
Short-term credit
do
Bank debits, total (141 centers)
New York City
Outside New York City
do
do
-do
Federal Reserve banks, condition, end of month:
Assets total
mil of dol
Reserve bank credit outstanding, totaL_.do
Discounts and advances
do
United States Government securities do
Gold certificate reserves
do
Liabilities, total
do___
Deposits, total
do
Member-bank reserve balances
do
Excess reserves (estimated)
do
Federal Reserve notes in circulation
do
Reserve ratio
percent- _
v
231
250
279
240
247
564
1,816
980
931
49
246
589
100, 301
41,463
58, 838
43 525
17, 935
306
17,389
22, 998
43, 525
17 655
15,814
526
22, 836
56.8
335
259
374
286
397
308
246
606
251
606
1,838
988
941
47
269
582
305
546
331
519
107, 113
43, 781
63, 332
98, 509
38, 757
59, 752
115,490
50, 067
65, 423
110, 106
44, 910
65, 196
111,974
43, 837
68, 137
110, 132
43 740
66, 392
125, 435
52 590
72 845
123, 224
48 207
75 017
'101,417
39 067
r
62 350
44 284
18, 703
43
18, 331
22, 982
44, 284
18 316
15, 934
436
22 921
55.7
43 804
18, 466
219
17, 969
22, 886
43, 804
18 139
16 129
595
22 841
55.8
44 049
18, 820
82
18, 356
22 389
44, 049
17 912
15 989
219
22 947
54.8
45 604
20, 340
72
19, 572
22 235
45, 604
19 197
16 709
888
22 997
52.7
44 826
19^ 798
116
19, 252
22 045
44, 826
18 398
16 514
589
23 075
53.2
45 448
20, 638
161
19, 693
21 798
45, 448
18 682
16 763
645
23 397
51.8
47 172
22, 216
67
20, 778
21 458
47, 172
19 810
17' 681
1 172
23 <",^7
49.4
47 738
23. 051
798
21, 484
21 160
47, 738
20 998
18 984
Q37
23 Q26
48.1
47 368
23, 188
398
21, 881
20 852
47', 368
20 704
19 066
700
23 110
47.6
394
333
1, 861
989
946
43
350
'Revised.
Preliminary.
fRevised series. See note marked "f' on p. S-ll.
§Rates as of June 1, 1951: Common labor, $1.615; skilled labor, $2.648.
*New series. Comparable data prior to January 1948 are not available.
r
r
r
r
22, 910
20
47,
21
19
567
978
4 K ()
014
047
23 041
46.2
23, 481
529
22, 509
47, 174
9O ^£1
1 o rroc
p '}44
00
Q9O
46.9
SURVEY OF CURRENT BUSINESS
S-16
Unless otherwise stated, statistics through
1°48 and descriptive notes are shown in the
1949 Statistical Supplement to the Survey
July 1951
1951
1950
May
June
July
August
September
October
November
December
January
February
March
April
May
FINANCE—Continued
BANKING —Continued
Federal Reserve weekly reporting member banks,
condition, Wednesday nearest end of month:
Deposits:
Demand, adjusted
mil. ofdol
Demand, except interbank:
Individuals, partnerships, and corporations
mil. of dol__
States and political subdivisions
__do__
United States Government
do
Time, except interbank, total ..
do
Individuals, partnerships, and corporations
mil. of dol. _
States and political subdivisions
do...
Interbank (demand and time)
do
Investments, total
__do
U. S. Government obligations, direct and
guaranteed, total
mil of dol
Bills
do
Certificates
do
Bonds and guaranteed obligations. _ _ do
Notes
_
do
Other securities
_ _
do
Loans, total
do
Commercial, industrial, and agricultural. do
To brokers and dealers in securities
do
Other loans for purchasing or carrying securities
mil. ofdol..
Real-estate loans
do
Loans of banks _
.
__
do
Other loans
do
Money and interest rates:d"
Bank rates on business loanstf
Discount rate (N. Y. F. R. Bank)
do
Federal land bank loans
__
do
Federal intermediate credit bank loans ._ do
Open market rates, New York City:
Acceptances, prime, bankers', 90 days
do. _
Commercial paper, prime, 4-6 months
do
Time loans, 90 days (N. Y. S. E.)
do
Call loans, renewal (N. Y. S. E.)
do
Yield on U. S. Govt. securities:
3-month bills§
_
do
3-5 year taxable issues _
.. __
do
Savings deposits, balance to credit of depositors:
New York State savings banks
mil. of dol_.
U. S. postal savings
do
47, 533
47, 972
48, 264
48, 995
49, 238
49, 471
50, 546
51, 642
51, 220
50,649
49, 487
50, 163
50, 034
47, 856
3,571
47, 925
3,611
2,350
15, 552
48, 555
3,443
1,946
15, 387
49, 368
3,321
2,390
15, 331
50, 198
3,245
2,338
15, 329
50, 445
3,362
1,805
15, 292
51, 305
3. 371
1,624
15, 242
53, 518
3,393
1,572
15, 346
51, 760
3,657
1,622
15, 250
51,813
3,640
2,588
50, 104
1,982
15, 496
15, 324
15, 379
50, 257
3,950
3,520
15. 338
50, 591
3, 857
3,005
15, 362
14, 738
636
9,930
42, 070
14, 768
652
10, 098
42,376
14,613
638
10, 345
41, 466
14, 535
663
10, 125
41,317
14, 537
662
10, 285
40, 265
14, 513
653
11,032
39, 850
14, 475
642
10, 854
39, 337
14, 578
642
12, 956
39, 795
14, 533
689
10, 818
38,039
14,495
703
10, 783
37, 312
14, 555
697
10, 384
37, 491
14, 477
732
10, 669
37, 447
14, 485
746
10, 157
36, 941
36, 456
2,125
4,420
24, 193
5,718
5,614
25, 033
13, 359
1,801
36, 638
2,641
2,916
24, 433
6,648
5,738
25, 584
13, 602
1,717
35, 496
1,831
2,134
24, 513
7,018
5,970
26, 381
14, 022
1,934
35, 082
2,297
1,359
23, 539
7,887
6,235
27, 253
14, 739
1,427
33, 845
2,391
1,156
22, 426
7,872
6,420
28, 502
15, 725
1,487
33, 535
2,481
1,048
22, 246
7,760
6,315
29, 387
16, 476
1,355
32, 984
2,044
1,124
22, 114
7,702
6, 353
30, 586
17, 084
1,671
33, 294
2,470
31, 557
1,651
30, 791
1,577
30, 886
1,933
30, 836
1,971
30, 443
1,769
21, 573
9,251
6, 501
31,417
17, 859
1,578
21, 205
8,701
6,482
31, 541
18, 120
1,554
20, 830
20, 744
20, 715
8,150
6,611
32, 661
19, 186
1,359
20, 527
8,147
6,498
32, 428
19, 048
1,332
627
4,595
235
4,800
652
4,682
405
4,912
676
4,815
214
5,111
743
4,938
358
5,439
718
5,035
339
5,590
728
5,126
312
5,786
792
5,213
377
5,845
750
5,280
510
5,877
754
5,299
317
5,946
748
5,331
727
5,419
491
5,935
717
5,476
382
5,928
1.50
4.08
2.00
2.34
2 67
3.22
1.50
4.08
2.00
1.50
4.08
2.00
1.75
4.08
2.00
2.32
2.63
3.13
1.75
4.08
2.00
1.75
4.08
2.00
1.75
4.08
2.00
2.51
2 87
3.28
1.75
4.08
2.00
1.75
4.08
2.17
1.75
4.08
2.23
1.06
1.31
1.63
1.63
1.06
1.31
1.63
1.63
1.06
1.31
1.63
1.63
1.16
1.44
1.63
1.63
1.31
1.66
1.63
1.63
1.31
1.73
1.63
1.63
1.31
1.69
1.63
1.63
1.166
1.45
1.174
1.47
1.172
1.45
1.211
1.45
1.315
1.55
1.329
1.65
11,411
3,125
11, 512
3,097
11, 476
3.061
11,448
3,021
11,462
2,991
17, 077
11,667
6,733
3,600
17,651
12, 105
6,995
3,790
18, 295
12, 598
7,343
3,994
18, 842
13, 009
7,613
4,107
1,011
935
537
1,032
947
561
665
1,081
976
597
695
4,934
2,134
450
267
182
5,110
2,233
474
275
187
797
959
145
3,489
4,622
8,209
6,605
8,384
6,521
32, 189
18, 733
1,498
32, 707
19, 202
1,512
718
412
5,369
425
5,910
5, 930
1.75
4.08
2.03
1.75
4.08
2.03
2 74
3 02
3 42
1.75
4.08
2.06
1.31
1.72
1.63
1.63
1.39
1.86
2.13
2.00
1.50
1.96
2.13
2.00
1.63
2.06
2.13
2.00
1.63
2.13
2.13
2.00
1.63
2.17
2.38
2.15
1.364
1.62
1.367
1.64
1.387
1.66
1.391
1.67
1.422
1.86
1.520
i 2.03
1.578
2.04
11, 464
2,967
11, 525
2,947
11,646
2,924
11,635
2.901
11,625
2,877
11,648
11, 662
P 2, 825
11, 710
p 2, 807
19,329
13, 344
7,858
4,213
19,398
13,389
7,879
4,227
19, 405
13, 306
7,805
4,175
20,097
13, 459
7,904
4,126
19, 937
13, 252
7,694
4, 056
19, 533
13, 073
7,521
7,368
3,946
P 19, 123
v 12. 905
P 7, 270
* 3, 934
p 19, 184
" 12, 913
" 7, 246
" 3, 977
1,123
998
658
727
1,159
1,028
702
756
1,170
1,019
705
758
1,172
1,003
702
^53
1,245
1,029
710
794
1,201
982
694
1.162
956
677
7R1
736
1,133
924
655
71 A
p 1, 103
"905
"636
P goo
P 1, 084
"890
"617
" 678
5,255
2,316
495
282
192
5,396
2,401
514
290
197
5,486
2,462
524
295
201
5, 510
2,460
524
294
201
5,501
2,435
521
292
200
5,555
2,431
525
291
203
5,558
2.438
518
289
5, 552
2, 441
' 5, 608
202
202
204
P 5, 635
P 2, 497
"514
"286
"205
" 5, 667
" 2, 504
"518
"288
"207
816
978
147
826
995
149
835
1,009
150
844
1,010
150
853
1,026
152
863
1, 037
153
864
1,084
157
863
1,090
158
856
1,094
158
••853
1,112
160
"853
P 1, 119
"161
"857
" 1, 131
"162
3,290
1,092
1,028
3, 392
1,116
1,038
3,527
1,133
1,037
3,636
1,157
1,040
3,741
1,197
1,047
3,703
1, 250
1,056
3,739
1,298
1,062
4, 239
1,332
1,067
4,248
1,352
1,085
4,010
1,369
1,081
3, 938
1,381
1,084
p 3, 744
v 1. 392
p 1,082
"3,790
" 1, 396
" 1, 085
348
83
43
32
168
379
93
46
34
175
381
84
45
32
166
387
88
46
33
166
356
76
40
32
149
298
66
39
28
149
257
64
34
27
165
289
72
37
29
234
326
67
39
28
162
296
64
35
27
158
368
79
43
33
207
"340
^358
"82
P 44
"33
" 198
r
2, 852
r
CONSUMER CREDIT
Total consumer credit, end of monthO.mil. ofdol..
Instalment credit, total
__ __
__do
Sale credit, total
do
Automobile dealers
do
Department stores and mail-order houses
mil. of dol. _
Furniture stores .
do
Household-appliance stores
do
Jewelry stores
do
All other retail stores
._
do
Cash loans, total
do
Commercial banks
do
Credit unions
do
Industrial banks
__
_
do
Industrial -loan companies
do
Insured repair and modernization loans
mil. of dol. _
Small-loan companies
__
do
Miscellaneous lenders
do
Charge accounts
Single-payment loansO
Service credit
__
do
do
do
Consumer instalment loans made during the month,
by principal lending institutions:
Commercial banks __
mil. ofdol
Credit unions
do
Industrial banks.
._
do
Industrial-loan companies
_ __ do
Small-loan companies
do
\
ggQ
3,990
515
286
' 19, 379
12, 976
r
2,476
517
286
"72
"41
"31
"184
FEDERAL GOVERNMENT FINANCE
Budget receipts and expenditures:
2,148
4,776
3,238
4,842
2,300
3,184
4,474
4,621
4,820
2,895
3,289
8,811
4,039
Receipts, total
__ mil. ofdol
r
4,404
1,881
2,860
4,605
2,056
4,211
2,851
4,257
2,320
2, 626
4,448
8, 112
3,146
Receipts, net
do
52
39
38
40
54
54
49
47
57
59
54
53
57
Customs
do
1,232
2,108
2,016
3,
875
3,947
1,291
3,538
2,250
3,
851
3,538
7,818
3,074
2,423
Income and employment taxes 9 do
714
737
948
775
808
764
704
746
853
797
838
690
747
Miscellaneous internal re venue.
do
129
144
122
140
146
73
133
173
117
96
138
164
123
All other receipts
__
do
2
3,170
3,013
2,515
2,962
4,296
3,520
3, 102
3,742
3,211
3,808
4,058
4,517
4,007
Expenditures, totalt _ _
do
134
271
229
1,611
646
142
968
136
514
156
580
163
253
Interest on public debt
do
466
460
449
402
472
443
425
465
470
426
456
'514
427
Veterans Administration
do
1,024
1,149
1,338
1, 446
1,510
1,037
1, 651
1,007
" 2, 396
998
1,695
2,057
2,160
National defense and related activities J_ .do
r
1.142
1,269
766
1,435
1,045
808
1.171
1, 533
1,222
934
1, 305
965
1,167
All other expenditures!
do
T
Revised.
P Preliminary.
1 Beginning April 1, 1951, includes 1^ percent note of March 15, 1955, 1% percent note of December 15, 1955, and iy% percent bond of March 15, 1956-58.
2 Data reflect a reduction of $1,746,000, representing net investments of wholly owned Government corporations and agencies in public debt securities which were classified as expenditures in July-October.
cf For bond yields see p. S-19.
fRevised series. Annual averages for 1939-48 on the new basis are available upon request.
§Revised to reflect yields on bills issued rather than on bills announced; comparable data for January 1947-November 1949 are available upon request.
©Revised beginning 1929 to exclude nonconsumer single-payment loans; data prior to October 1949 are available upon request.
9 Revised beginning January 1950 to include employment taxes formerly shown separately. JRevisions for total budget expenditures (June 1948-January 1949) are shown at bottom of
p. S-14 of the April 1950 SURVEY; those for national defense and all other expenditures (July 1948-February 1949), on p. S-17of the September 1950 SURVEY.
SURVEY OF CURRENT BUSINESS
July 19r>l
Unlefes otherwise stated, statistics through
1948 and descriptive notes are shown in the
1949 Statistical Supplement to the Survey
S-17
1951
1950
May
June
August
July
September
October
November
December
January
256, 125
253, 704
219, 712
33, 992
2,421
February
March
April
May
255, 093
252, 729
218, 680
34, 049
2,364
FINANCE—Continued
FEDERAL GOVERNMENT FINANCE—Con.
Public debt and guaranteed obligations:
Gross debt (direct), end of month, total
mil. of dol__
Interest-bearing, total
- do. _
Public* issues
do
Special issues
do
Noninterest bearing
do
Obligations guaranteed by U. S. Government,
end of month
mil. of dol
U . S . savings bonds:
Amount outstanding, end of month
do
Sales, series E, F, and G
do
Redemptions
_
_
do
256, 350
254, 183
222, 315
31, 868
2,167
257, 357
255, 209
222, 853
32, 356
2,148
257, 541
255, 403
222, 884
32, 518
2, 138
20
20
57, 576
416
454
Government corporations and credit agencies:
Assets except interagency total
mil of dol
To aid agriculture
To aid home owners
To aid railroads
To aid other industries
To aid banks
To aid other financial institutions
Foreign loans
All other
Commodities supplies and materials
U S Government securities
Other securities
Land structures and equipment
All other assets
57, 629
398
456
257, 874
255, 764
223, 059
32, 705
2,110
257, 216
254, 968
221, 572
33, 396
2,247
256, 937
254, 731
221, 191
33, 539
2.206
257, 077
254, 887
221, 156
33, 732
2,189
256, 708
254, 282
220, 575
33, 707
2,425
16
18
20
22
24
24
57, 655
417
505
57, 451
350
637
58, 248
541
509
24, 118
12, 502
3,773
1,316
do
do
do
do
do
do
do
do
do
do
do
do
do
57, 473
310
475
58, 027
971
497
58,096
436
448
18
18
21
r 21
29
58, 191
476
653
58, 133
386
528
58, 020
359
560
57, 938
310
583
57, 842
295
477
25, 104
13, 496
3, 931
1,721
108
473
0)
760
0)
824
6,103
6,078
6,116
2,186
2,101
3,483
2,924
1,774
2,075
3,473
2,945
1,141
1,764
2,162
3,467
2,951
1,264
2,500
485
531
498
923
1,739
2,112
3,478
2,931
1,073
Liabilities except interagency total
Bonds, notes, and debentures:
Guaranteed by the United States
Other
Other liabilities
do
2,238
2,097
2,406
do
do
do
18
774
19
23
1,446
Privately owned interest
U S Goverment interest
do
do
21, 679
Reconstruction Finance Corporation, loans and
securities (at cost) outstanding, end of month,
total
-mil. of dol
Industrial and commercial enterprises, including
national defense
mil. of dol
Financial institutions _ _ _
- do
Railroads
do
States, territories, and political subdivisions_do
United Kingdom and Republic of the Philippines
mil. of dol__
Mortgages purchased
.
do
Other loans
_ __ _
do _ -
254, 727
252, 280
218, 690
33, 590
2,447
110
458
113
539
2
708
6,116
254, 997
252, 553
219, 028
33, 525
2,218
24, 635
13 228
3,884
1,528
24, 102
12 769
3,684
1,387
113
515
3
451
255, 941
253, 382
219, 448
33, 933
2,559
970
2,113
2,166
2 1, 009
2997
542
110
111
518
110
110
625
109
110
535
108
110
518
105
111
515
105
111
25
24
24
125
1,227
118
297
113
294
25
128
1, 156
37
37
60, 973
55, 034
61, 307
55,311
«•r 54, 192
37, 701
'r 15, 604
13, 456
' 9, 644
r
2, 917
' 9, 536
••718
f
11, 381
r
1, 061
' 10, 320
' 1, 979
1,159
' 1, 255
2,297
25
126
1,180
36
268
21, 995
2,085
25
1,247
1,234
234
214
21, 791
2,105
133
1,147
19
1,190
1,193
1,108
201
564
2
22 337
899
2893
2890
»884
2883
2885
426
103
108
436
103
108
439
102
106
439
99
106
447
98
106
458
97
105
93
290
87
289
23
23
108
293
97
292
36
36
22
95
290
36
22
36
20
2
882
462
95
104
20
20
84
286
81
283
36
36
36
61, 679
55, 675
61, 988
55, 909
62, 370
56, 224
62, 706
56, 334
63, 022
56, 652
63, 699
57, 158
64, 296
57, 592
64, 539
57, 881
64, 822
58, 060
65, 156
58, 309
65, 496
58, 759
54, 476
37, 679
15, 383
13, 256
9,740
2,949
9,607
54,811
37, 781
15, 366
13, 242
9,806
2,948
9,661
55, 078
37, 731
15, 170
13, Oil
9,900
2,961
9,699
55, 381
37, 758
15,045
12, 839
9,943
2,973
9,797
55, 669
37. 548
14, 687
12, 502
10, 042
2,988
9,831
55, 932
37, 522
14, 414
12,218
10, 092
2,987
10, 030
56, 519
37, 676
14, 221
12, 023
10, 187
2,998
10, 270
56, 886
37, 593
14, 064
11,865
10,192
3,011
10, 325
57, 131
37, 577
13, 916
11,718
10, 225
3,005
10, 431
57, 362
37, 414
13, 514
11, 307
10, 303
3,008
10, 589
57, 641
37, 342
13, 147
10, 927
10, 350
3,005
10, 839
57, 894
37, 455
13, 021
10, 787
10, 376
3,017
11,041
11,611
1,071
10, 540
1,994
1,176
1,222
11,821
1,085
10, 736
2,009
1,207
1,267
12, 064
1,099
10, 965
2,024
1,216
1,317
12, 302
1, 110
11, 192
2,036
1,228
1,346
12, 570
1,125
11, 445
2,047
1,244
1,412
12, 866
1,136
11. 731
2,056
1,259
1,429
13, 252
1,148
12, 104
2,067
1,278
1,457
13, 573
1,170
12, 403
2,078
1,286
1,493
13, 848
1,196
12, 652
2,089
1,296
1,529
14, 141
1,218
12, 923
2,107
1,304
1,488
14, 397
1,239
13, 158
2,119
1,311
1,495
14, 675
1,263
13, 412
2,133
1,321
1,506
2,303
2,325
2,540
2,468
2,595
2,692
2,973
1,142
2,068
2,354
2,463
2,284
2,428
1,442
1,340
1,548
1,502
1,512
36
36
36
LIFE INSURANCE
Assets, admitted:
All companies (Institute of Life Insurance), estimated total
mil of dol
Securities and mortgages
do
49 companies (Life Insurance Association of
America) , total.
mil. of dol
Bonds and stocks, book value, total
do
Govt. (domestic and foreign), total _ do _
U. S. Government
do
Public utility
do___
Railroad, __
_
do
Other
do
Cash
do
Mortgage loans, total
do
Farm.
do
Other
do
Policy loans and premium notes
do
Real-estate holdings
do
Other admitted assets
- do
Life Insurance Agency Management Association:
Insurance written (new paid-for-insurance) :
Value, estimated total
mil. of dol
Group
_
_
do
Industrial . _
do
Ordinary, total
do__
New England _ _
...
do
Middle Atlantic
do
East North Central
_ __
do
West North Central .
do__
South Atlantic
do
East South Central
do
West South Central
do
Mountain _ _ _ _ _
__ _
__ do
Pacific _ _ do
Institute of Life Insurance:
Payments to policy holders and beneficiaries,
estimated total
thous. of dol
Death claim payments
do
Matured endowments
do ___
Disability payments.
do
Annuity payments
do
Policy dividends
_
do
Surrender values
_ do
r
3
794
341
503
431
454
1,453
1,418
98
336
293
129
179
61
132
53
172
313, 640
137, 941
41, 298
8,440
21. 466
45, 139
59, 356
96
324
292
128
168
60
134
50
165
330, 149
133, 973
48, 117
8,583
21, 568
57. 664
60, 244
726
515
413
1,397
725
349
414
1,777
96
312
284
127
175
62
125
51
165
117
361
346
169
239
84
185
64
212
277, 771
117, 588
36, 949
7,462
21, 183
44, 147
50. 442
302, 338
131. 433
38, 190
8,658
21,090
45, 943
57, 024
712
617
411
1,440
89
294
302
140
177
64
135
55
183
280, 449
115,933
35, 834
8, 542
19, 077
48, 456
52, 607
848
700
500
1. 395
95
320
299
128
162
65
121
48
158
304, 642
141,539
40, 964
8,282
21,056
42, 439
50, 362
799
881
455
1,356
95
333
293
120
147
60
111
47
150
305, 847
136, 412
40, 493
8,381
21, 253
43, 378
55, 930
789
389
863
333
395
94
323
300
146
162
56
129
59
174
105
336
281
120
147
52
115
45
139
345, 502
137, 352
39, 566
8,222
18, 131
87, 922
54. 309
370, 946
157, 309
50, 856
9,487
27, 999
66, 004
59. 291
792
649
424
1,282
92
318
273
114
147
49
110
43
137
304, 142
129, 006
41, 556
7,959
22, 573
49, 887
53, 161
Revised. ! Less than $500,000.
Excludes holdings of the Federal National Mortgage Association; this agency was transferred to the Housing and Home Finance Agency on Sept. 7, 1950.
908
429
486
107
381
326
137
173
57
143
56
169
366. 291
153, 724
47, 349
8,682
22, 689
71, 371
62,476
977
316
466
100
369
322
126
172
58
136
53
166
336, 397
146, 005
43, 726
8, 831
21,715
57, 811
58, 309
804
411
505
96
368
324
133
172
58
135
55
171
338, 335
149, 159
43, 178
8,846
23, 573
53,330
60,249
SUEVEY OF CURRENT BUSINESS
S-18
Unless otherwise stated, statistics through
1948 and descriptive notes are shown in the
1949 Statistical Supplement to the Survey
July 1951
1950
May
June
July
August
1951
September
October
November
December
January
February
March
April
May
591, 532
60, 565
71, 275
48, 500
80, 391
330, 801
489, 571
47, 472
69, 653
43, 044
64, 519
264, 883
525, 553
61, 935
64, 029
42, 184
65, 808
291, 597
22, 706
23, 037
21, 806
22 392
22, 086
-35,311 -237,935 -248, 540 -184,357 -111,239
161, 750
95, 825
125 704
62 824
110 136
2,833
2,242
3,117
* 2, 240
2,257
21, 805
101,914
112, 842
2,245
v 21, 755
-12, 947
43 357
2,397
FINANCE—Continued
LIFE INSURANCE—Continued
Life Insurance Association of America:
Premium income (39 cos.), total
thous. of doL_
Accident and health
do
Annuities
do
Group
do
Industrial
do_ _
Ordinary
__do___
474, 305
39, 823
52, 132
38, 311
70, 648
273, 391
539, 208
38, 584
72, 477
39, 351
75, 220
313, 576
442, 303
34. 505
67, 160
35, 432
61,966
243, 240
477, 976
43, 025
54, 865
42, 113
66, Oil
271, 962
476, 122
38, 796
48, 948
30, 101
75, 080
283, 197
452, 453
46, 545
53, 741
38, 507
64, 925
248, 735
491, 850
43, 806
64, 141
37, 849
63, 386
282, 668
757, 998
67, 596
180, 356
60, 672
111.091
338, 283
550, 671
44, 905
106, 132
49, 667
77, 056
272, 911
511,135
49, 579
68, 709
44, 655
67, 666
280, 526
MONETARY STATISTICS
Gold and silver:
Gold:
24, 231
Monetary stock, U. S
mil. of dol _
Net release from earmark §
thous. of dol__ -29, 873
1,553
Gold exports
do
14, 628
Gold imports
do_ _ _
65, 885
Production reported monthly total J
do
39. 930
Africa
do
13, 082
Canada (incl Newfoundland) of
do
6,819
United StatesJ
do
Silver:
70
Exports
do
8,253
Imports
do
.726
Price at New York
dol. per fine oz
Production:
1,751
Canada (incl Newfoundland) cfthous of fine oz
3,800
M!exico
do
3,890
United States
do
Money supply:
27, 090
Currency in circulation
mil. of doL
Deposits, adjusted, all banks, and currency out172, 400
side banks totalO
mil. of dol
24, 700
Currency outside banks
_ _
do_
Deposits, adjusted, total, including U. S. depositsO
mil. o f d o l _ _ 147, 700
85, 000
Demand deposits, adjusted, excl. U. S do
59, 500
Time deposits, incl. postal savings
do
Turn -over of demand deposits, except interbank and
U. S. Government, annual rate:
29.7
New York City
ratio of debits to deposits
19.2
Other leading cities
do
24, 231
-17, 627
2,246
12, 274
66, 169
38, 940
12, 913
6,645
23, 627
24, 136
-89, 969 -431, 378
46, 368
4,069
4.146
2,556
67, 390
64. 905
39,
425
38, 969
13, 177
12, 893
7,890
7,078
23, 483
23, 249
-65, 889 -146, 220
108, 448
95, 967
11,998
2, 519
65, 557
67, 027
38, 443
38 306
12, 771
13, 190
7,846
8,170
37, 674
13, 258
7,545
37, 138
13, 407
6, 960
37 815
13, 107
5,917
12 147
5, 196
13, 031
5,784
5,529
332
'10,016
.902
r
1,219
6,126
.728
375
10, 408
.728
425
8,904
.728
334
17,371
.728
335
12, 350
.751
947
13, 870
.800
2,246
10, 602
.800
3,623
10, 999
.887
282
8,101
.902
1, 932
7,674
.902
1,968
4,400
2,669
2,286
3,300
4,102
2,282
4,000
3,660
2,164
4,000
4,222
2,398
4,400
2,747
1,854
4, 300
3, 433
1,879
4, 000
3,939
2 015
3 800
3 769
1 589
3,300
3 374
1, 755
3,700
4,371
3,429
27, 156
27, 010
27, 120
27, 161
27, 228
27, 595
27, 741
27, 048
27, 188
27, 119
r 27, 278
P 27, 519
173, 765
25, 185
173, 900
24, 400
174, 800
24, 500
175, 100
24, 500
175, 900
24, 600
176,900
24, 900
179,906 p 178,000
25, 398 v 24, 600
p 179, 000
P 24, 600
p 178, 900
p 24, 400
p 179, 100
P 24, 600
p 178, 500
P 24, 900
148, 580
85, 040
59, 739
149, 500
86, 500
59, 400
150, 300
87, 400
59, 100
150, 600
88, 000
59, 000
151,300
89, 200
59, 000
152, 000
90, 300
58, 700
154, 508 r> 153, 400 P 154, 400
92 272
p 9 1,600 ^90 600
59, 247 » 59, 000 v 59, 000
p 154,500
p 89, 000
p 59, 100
p 154, 500
p 89, 500
p 59, 200
P 153, 600
P 89, 500
P 59, 300
30.7
20.2
31.0
20.3
33.8
19.9
34.2
21.5
30.7
20.9
31.4
21.7
35.5
22.5
32.5
22.3
30.5
21.3
37.2
23.0
32.9
22.0
30.7
21.5
258
6,889
.902
PROFITS AND DIVIDENDS (QUARTERLY)
Manufacturing corporations (Federal Reserve):*
Profits after taxes total (200 cos )
mil of dol
Durable goods total (106 cos )
do
Primary metils and products (39 cos ) do
M^ichinerv (27 cos )
do
\utomobilesandeouipment (15 cos )
do
Nondurable goods total (94 cos )
do
Pood and kindred products (28 cos ) do
Chemicals and allied products (26 cos ) do
Dividends total (200 cos )
do
Durable goods (106 cos )
do
Nondurable goods (94 cos )
do
Electric utilities, profits after taxes (Fed. Res.) 9
mil of dol
Railways and telephone cos. (see p. S-23).
1,046
693
225
93
330
353
58
141
95
393
218
175
1,245
777
255
108
358
468
88
176
131
583
370
213
958
576
206
140
186
382
59
127
130
873
541
333
p898
p 530
p 201
p 92
p 196
p,368
v 52
p 134
p 123
P467
p 269
p 198
212
171
211
P229
SECURITIES ISSUED
Commercial and Financial Chronicle:
Securities issued, by type of security, total (new
capital and refunding)
mil of dol
New capital total
do
Domestic, total
do
Corporate
do
Federal agencies
do
Municipal State etc
do
Foreign
do
Refunding total
do
Domestic total
do
Corporate
do
Federal agencies
do
Municipal State, etc
do
Securities and Exchange Commission:^
Estimated gross proceeds, total
do
By type of security:
Bonds and notes, total
do
Corporate.
_ __.
_ -.do
Common stock
do
Preferred stock
do _
By type of issuer:
Corporate, total __ _ . _ __
_do..-_
Manufacturing*
do
Public utility!
do
Railroad
do
Communication*
_ _ _ __ ..do
Real estate and
financial
do
Noncorporate, total
_ _
do...
U S Government
do
State and municipal
_.do
r
330
330
276
35
20
579
505
505
292
8
204
0
75
75
21
53
1
795
555
529
263
0
265
26
240
190
134
48
8
943
707
687
270
145
272
19
236
219
20
193
6
794
651
646
465
0
181
5
143
77
77
63
3
752
598
584
229
0
356
14
154
154
74
65
14
840
630
630
394
98
138
0
210
210
103
79
28
519
442
436
242
41
154
6
77
1, 657
2,305
1,236
1,534
1,239
1,947
1,454
1,514
1,511
502
75
71
2,051
809
160
93
1, 159
245
47
30
1,480
343
18
36
1,160
329
48
30
1,754
332
88
106
1.383
341
23
48
1,412
466
59
43
647
157
317
68
13
31
1, 010
689
319
1,063
179
555
77
65
127
1,242
882
359
322
72
58
10
20
34
913
706
205
397
55
215
39
10
39
1, 137
773
299
408
72
160
10
7
29
831
531
279
526
176
238
19
16
97
1,422
1,228
189
412
137
164
19
15
42
1,042
655
384
569
169
175
70
5
31
945
777
166
1,061
771
770
427
39
304
1
290
282
237
31
14
1,285
954
949
598
18
334
1,233
1,022
1,001
795
48
158
21
211
180
82
88
10
1, 064
920
918
660
29
228
13
45
19
834
649
594
365
48
181
5
184
184
27
154
3
1,180
1, 126
1,740
1,374
1,602
1,112
206
34
34
1,084
341
34
8
1,545
814
143
52
1, 083
396
192
100
1,492
482
89
21
274
38
134
44
2
28
906
730
175
383
65
222
26
2
40
742
502
185
1,009
304
688
339
266
20
23
13
686
451
230
592
327
164
14
4
28
1,010
581
343
30
426
20
731
520
162
144
144
SO
61
4
Revised.
P Preliminary.
§Or increase in earmarked gold (—).
{Revisions for January-May 1948 for United States and total gold production are shown in the August 1949 SURVEY, p. S-18. Revisions for 1948April 1949 and January-March 1950 for securities issued (SEC data) are available upon request.
cf Monthly data for 1949, revised to include production in Newfoundland, are availabl
upon request; January-April 1950 figures as previously published include such production.
QU. S. Government deposits at Federal Reserve banks are not included.
*New series. Data on profits and dividends cover large manufacturing corporations (total assets end of 1946, $10,000,000 and over); quarterly averages for 1939-48 and quarterly data for
1946-March 1948 are shown on p. 23 of the Juno 1950 SURVEY. Data on securities issued for manufacturing and communication for January 1948-May 1949 are available upon request.
9 Revisions for 1946-48 are available upon request.
fRevised series. Data (covering electric, gas, and water companies) are available beginning January 1948.
SUEVEY OF CURRENT BUSINESS
July 19.r)l
Unless otherwise stated, statistics through
1948 and descriptive notes are shown in the
1949 Statistical Supplement to the Survey
S-19
1951
1950
May
June
August
July
Septem-
ber
October
Novem-
Decem-
January
406
562
269
378
994
674
584
243
193
49
25
12
11
2
2
314
243
71
57
28
27
2
6
845
699
146
121
68
53
0
28
534
445
88
94
10
33
52
46
564
411
152
11
2
5
4
10
333
257
73
260
213
18
20
20
0
23
0
12
9
0
324
314
4
161
159
0
14
14
0
3
3
0
28
21
5
237, 662
191, 699
413, 440
162, 108
ber
ber
Febru-
ary
March
April
May
FINANCE—Continued
SECURITIES ISSUED— Continued
Securities and Exchange Commission J— Continued
New corporate security issues:
Estimated net proceeds, total
mil. of dol._
Proposed uses of proceeds:
New money, total
do
Plant and equipment
do
Working capital _ . __ _ _ _ _
.do. _
Retirement of debt and stock, total__do
Funded debt
__ __ do _.
Other debt
do
Preferred stock...
do
Other purposes
do
Proposed uses by major groups:
Manufacturing, total*
do
New money .
. .
do
Retirement of debt and stock
do
Public utility, totalf
_ do.
New money
do
Retirement of debt and stock.
do. _
Railroad, total
do
New money.
.
do
Retirement of debt and stock
do
Communication, total*
do
New money...
_
_
do
Retirement of debt and stock
do
Real estate and financial, total
do
New money
do
Retirement of debt and stock
do
State and municipal issues (Bond Buyer):
Long-term
thous. of dol._
Short-term
_
_ do.
636
1,049
318
392
399
514
269
191
78
353
180
134
40
14
618
450
169
377
305
66
6
54
214
148
66
45
20
23
2
60
222
180
42
152
136
10
5
19
300
243
57
62
23
31
8
37
306
256
50
177
68
92
17
31
306
189
117
88
51
24
13
12
345
242
103
168
83
84
1
49
154
53
98
312
104
202
67
38
29
13
4
9
30
26
1
175
115
38
549
365
173
76
11
50
64
3
61
127
90
34
71
48
21
58
44
13
10
10
0
20
19
1
33
25
2
54
28
15
213
105
107
39
35
4
10
6
4
38
22
13
71
45
22
158
139
12
10
10
0
171
59
97
233
172
47
19
19
0
15
3
26
23
2
136
100
30
162
122
40
19
19
0
15
8
7
41
36
2
166
119
43
173
140
33
69
13
56
4
4
0
30
11
5
37
29
8
132
126
6
44
44
0
2
2
0
27
25
1
64
53
9
219
199
20
26
8
18
2
2
0
39
33
3
298
219
73
151
97
36
30
30
0
423
422
0)
20
16
2
355. 150
119, 129
361, 302
79, 256
206, 855
136, 896
322, 795
172 489
290, 006
39, 798
229, 427
123 887
394, 581
202, 771
170, 557
176, 520
180,040
115,289
205, 771
158,609
169, 623
89, 529
190
387
154
370
167
518
132
336
143
275
132
253
243
317
227
391
265
449
186
480
181
426
155
409
222
434
1,175
657
750
314
1,256
673
827
1,208
712
755
1 231
780
752
1 284
738
751
1 351
771
759
1 360
796
774
397
1 356
890
745
1,411
948
690
1.367
953
642
1 , 304
918r
71,
1, 286
879
661
1,287
855
681
101. 43
101. 84
75.89
100. 94
101.37
73.92
101. 25
101 72
71 71
101.33
101 79
72 56
101.06
101 52
74 05
100. 83
101 27
73 37
100. 82
101 30
71 88
100. 93
101 45
70 41
101. 18
101 69
71 71
100. 90
101 38
72 56
99. 30
99 77
71.94
98.72
99 24
71 85
98.28
98 79
71 70
122.1
131. 5
102. 73
122.0
131.0
102. 42
121.5
131. 1
102. 24
122.1
134 8
102. 28
121.7
135. 2
101.90
121.1
136 4
101. 64
121.1
137.0
101. 69
121.1
137 4
101. 53
121.4
140. 5
101. 56
121.3
140.7
101.44
119.4
135.5
100. 28
117.8
131 9
98. 93
117.4
131. 1
97.90
84, 941
96, 720
100 444
113, 114
106 848
132 672
82 962
100 627
68 654
84 250
77 833
93 748
76 914
94 709
97 580
120 019
112 608
135 822
77 203
86 108
72 842
83 272
106 614
108 793
69 822
80 270
82, 036
92, 926
97, 466
109, 088
103 389
128, 381
80 536
97 044
65 795
80 272
74 681
90 132
74 646
9l' 786
95 099
116 476
110 023
132 186
74 563
82 658
70 081
79 406
104 014
105 659
67 378
77 369
82, 347
14
82, 333
75, 038
7,261
105, 474
10
105, 464
97, 132
8,262
113, 040
37
113, 003
105 879
7 044
80, 583
12
80, 571
74 865
5 688
76, 484
12
76, 472
68 717
7 740
83, 982
1 636
82, 346
74 340
7 gg^
87, 260
13
87, 247
78 641
8 602
111, 222
23
111, 199
101 824
9 355
120, 000
1
119, 999
110 535
9 446
86, 996
86, 996
77 384
9 592
76, 668
9
76, 659
68 618
8 009
76, 030
1 946
74, 084
67 413
6 601
67, 814
?)
67, 809
61 391
6 408
125, 353
123, 633
1,466
123, 581
121, 400
1,931
124, 633
122, 957
1,421
123, 471
121, 298
1,923
125, 209
123 581
1 375
123, 660
121 493
1 917
125, 257
123 607
l' 396
123, 612
121 437
1 924
118, 861
117 158
1 451
117,618
115 409
1 959
118, 417
116 802
1 362
117,441
115 334
1 857
118, 507
116 870
l' 385
117, 544
115 367
1 927
115, 952
114 347
1 354
114, 889
112 716
1 923
116, 165
114 541
1 374
114, 808
112 643
1 916
115, 801
114 163
1 389
114, 769
112 605
1 914
114, 382
112 758
l' 377
115,183
113 019
1 914
100, 247
98 630
1 373
101,545
99 384
1 912
99, 938
98 278
1 369
101, 692
99 482
1 910
2.86
2.87
2.90
2.85
2.86
2.88
2.88
2.88
2.86
2.85
2.96
3.07
3.09
2.61
2.69
2.88
3.25
2 62
2.69
2.90
3 28
2
2
2
3
2
2
2
3
2
2
2
3
2
2
2
3
2
2
2
3
2
2
2
3
2
2
2
3
2
2
2
3
2
2
3
3
2
2
3
3
2
2
3
3
2.65
2.81
3.12
2 66
2.81
3.15
2 69
2 83
3. 19
2 66
2 80
3 08
2 68
2 84
3 07
2 70
2 85
3 09
2 70
2 86
3 08
2 70
2 87
3 07
2 69
2 85
3 03
2 69
2 86
3 01
2 81
9 9(5
3 11
2 89
3 0"
3' 24
2 90
3 10
1.99
2.07
2.31
2.00
2.09
2.33
1 85
2.09
2.34
1 83
1.90
2.33
1 85
1.88
2.36
1 75
1.82
2.38
1 75
1.79
2.38
1 70
1.77
2.39
1 58
1.62
2.39
1 63
1.61
2.40
1 S2
1.87
2.47
1 94
2. 05
2. 56
9 07
2. 09
2. 63
5
2
29
23
5
r
r
COMMODITY MARKETS
Volume of trading in grain futures:
Corn
Wheat
mil. of bu
do
SECURITY MARKETS
Brokers' Balances (N. Y. S. E. Members
Carrying Margin Accounts)
Cash on hand and in banks
Customers' debit balances (net)
Customers' free credit balances
Money borrowed _
_
mil. of dol
do
do
do
Bonds
Prices:
Average price of all listed bonds (N. Y. S. E.),
total §
dollars. _
Domestic
do
Foreign __
_
._
do
Standard and Poor's Corporation:
Industrial, utility, and railroad (A1+ issues):
Composite (17 bonds") *... . dol. per $100 bond..
Domestic municipal (15 bonds).,
do
U. S. Treasury bonds, taxable
do
Sales:
Total, excluding U. S. Government bonds:
All registered exchanges:
Market value
thous of dol
Face value
__
...
do
New York Stock Exchange:
Market value _ _
do
Face value
__ .
_.
do
New York Stock Exchange, exclusive of stopped
sales, face value, total§
thous. of dol_.
II. S. Government
do
Other than U. S. Government, total §
do
Domestic _ _ .
do
Foreign
do
Value, issues listed on N. Y. S. E.:
Market value, total, all issues§
mil. of dol..
Domestic
do
Foreign _
__
do
Face value, total, all issues§
do
Domestic.
.
do
Foreign
do
Yields:
Domestic corporate (Moody's)
percent..
By ratings:
Aaa
do
Aa
do
A
do
Baa
_
do
By groups:
Industrial
do
Public utility
_
do
Railroad . _.
_
do
Domestic municipal:
Bond Buyer (20 bonds)
do
Standard and Poor's Corp. (15 bonds)
do
U. S. Treasury bonds, taxable
do
65
72
92
32
61
67
87
23
64
71
88
21
67
72
91
22
67
72
92
22
67
72
91
20
66
71
8C)
17
o
66
71
88
16
78
89
00
23
87
93
11
35
89
93
i5
40
3 'N
'Revised.
1 Less than $500,000.
+Re visions for 1948-April 1949 and January-March 1950 are available upon request.
*New series. For S. E. C. data, see corresponding note on p. S-18. Bond prices are averages of weekly data for high-grade corporate issues; monthly data beginning 1900 are available upon
request.
t Re vised series. See corresponding note on p. S-18.
§Sales and value figures include bonds of the International Bank for Reconstruction and Development not shown separately; these bonds are included also in computing average price
of all listed bonds.
SURVEY OF CURRENT BUSINESS
S-20
Unless otherwise stated, statistics through
1948 and descriptive notes are shown in the
1949 Statistical Supplement to the Survey
July 1951
1951
1950
May
June
July
August
September
October
November
December
January
February
March
April
May
FINANCE—Continued
SECURITY MARKETS—Continued
Stocks
Cash dividend payments publicly reported: t
Total dividend payments...
mil. of dol_Finance
do
Manufacturing
do
Public utilities:
Communications _
do
Heat, light, and power
do
Railroad
-do
Trade
-do. ._
Miscellaneous
-- do
Dividend rates, prices, yields, and earnings, 200
common stocks (Moody's):
Dividends per share, annual rate (200 stocks)
dollars-Industrial (125 stocks)
do
Public utility (24 stocks)f
--do
Railroad (25 stocks) _
--do
Bank (15 stocks)
do
Insurance (10 stocks) _.
do
Price per share, end of month (200 stocks).. do
Industrial (125 stocks)
do
Public utility (24 stocks)}
do.-.
Railroad (25 stocks)
do.. .
Yield (200 stocks)
percent-Industrial (125 stocks)
.
do
Public utility (24 stocks)~t-do—
Railroad (25 stocks)
do - Bank (15 stocks)
do.- Insurance (10 stocks)
do
Earnings per share (at annual rate), quarterly:
Industrial (125 stocks)
dollars
Public utility (24 stocks) f
do
Railroad (25 stocks)
do
Dividend yields, preferred rstocks, 11 high-grade
(Standard and Poor's Corp.)
per cent- Prices:
Dow- Jones & Co., Inc. (65 stocks) dol. per share- .
Industrial (30 stocks)
.do
Public utility (15 stocks)
do _ _
Railroad (20 stocks)
-do
Standard and Poor's Corporation:
Industrial, public utility, and railroad :§
Combined index (416 stocks) .-1935-39 =100.Industrial, total (365 stocks)
do
Capital goods (121 stocks)
do
Consumers' goods (182 stocks)
do
Public utility (31 stocks)
do
Railroad (20 stocks)
do
Banks N Y C (19 stocks)
do
Fire and marine insurance (18 stocks).. __do
Sales (Securities and Exchange Commission):
Total on all registered exchanges:
Market value
mil. of dol..
Shares sold
thousands _
On New York Stock Exchange:
Market value
mil. of dol_.
Shares sold
- thousands
Exclusive of odd lot and stopped sales
(N Y Times)
thousands
Shares listed, New York Stock Exchange:
Market value, all listed shares
mil. of doL.
Number of shares listed
millions..
'214.3 ' 1, 153. 0
'41.5
'73.6
' 108. 0 ' 798. 5
'3.3
'76.6
' 210. 5
' 30.8
f 119. 9
'2.9
' 895. 8
'73.4
' 547. 5
'65.9
'520.0
' 113. 4
' 223. 7
'5.1
.6
'42.2
3.0
'8.1
3.0
'36.1
'62.4
'42.1
'46.0
'22.4
'66.7
'55.3
'9.4
'36.1
'10.3
'.7
'42.0
7.0
'7.4
4.4
'35.9
'61.4
'31.3
'52.0
'23.7
'66.6
'50.6
'13.4
'43.0
'8.5
.6
'43.4
'15.1
'8.3
'5.1
'39.8
'75.3
'91.4
'87.4
'47.6
'72.2
'49.5
'12.8
'64.9
'10.8
.7
'41.5
8.0
'15.2
2.3
3.32
3.51
1.74
2.04
2.47
2.41
3.34
3.53
1.74
2.04
2.48
2.41
3.39
3.59
1.78
2.04
2.48
2.43
3.63
3.91
1.78
2.05
2.48
2.43
3.66
3.95
1.78
2.15
2.50
2.43
3.84
4.17
1.84
2.24
2.50
2.43
4.04
4.40
1.85
2.45
2.60
2.66
4.06
4.44
1.85
2.47
2.61
2.71
4.11
4.49
1.85
2.54
2.65
2.71
57.32
58.79
33.51
31.64
54.09
55.56
31.07
29.49
54.98
56.43
29.73
34.61
56.80
58.68
30.07
34.25
58.87
61.27
30.58
35.62
59.13
61.65
30.55
35.03
59.37
61.77
30.34
35.70
61.80
64.46
30.81
40.95
5.79
5.97
5.19
6.45
4.26
3.29
6.17
6.35
5.60
6.92
4.54
3.41
6.17
6.36
5.99
5.89
4.50
3.74
6.39
6.66
5.92
5.99
4.50
3.51
6.22
6.45
5.82
6.04
4.45
3.27
6.49
6.76
6.02
6.39
4.63
3.22
6.80
7.12
6.10
6.86
4.61
3.43
6.57
6.89
6.00
6.03
4.71
3.43
' 496. 4
'87.6
' 220. 8
'5.9
' 242. 1 '2,138.7
' 198. 8
'38.0
' 129. 1
1, 459. 3
'2.5
' 139. 1
9.44
2.54
9.80
8 66
2.58
5 73
' 494. 1
' 105. 9
' 174. 0
4.0
' 214. 2 ' 1, 066. 2
'39.5
'70.9
' 105. 2 ' 688. 3
'77.1
'1.8
516.4
83.1
204.3
8.0
209.5
40.1
107.9
1.4
'38.3
'67.4
60.3
'40.3
'23.6
74.9
54.4
25.0
54.9
11.8
.7
44.7
3.5
8.5
2.7
4.11
4.48
1.85
2.55
2.65
2.71
4.11
4.49
1.86
2.55
2.65
2.71
4.15
4.52
1.87
2.58
2.65
2.73
4.15
4.51
1.87
2.58
2.65
2.73
65.01
68.21
31.86
44.34
65.57
68.61
32.82
42.90
64.25
67.40
31.77
40.52
67.20
71.15
31.78
42.17
65.39
68.88
31.99
40.04
6.32
6.58
5.81
5.73
4.73
3.52
6.27
6.53
5.64
5.94
4.48
3.52
6.40
6.66
5.85
6.29
4.61
3.45
6.18
6.35
5.88
6.12
4.74
3.41
6.35
6.55
5.85
6.44
4.77
3.49
"7.75
p 2.60
*3.47
9 08
2.62
11 84
3.82
3.85
3.92
3.85
3.85
3.88
3.88
3.89
3.87
3.87
4.11
4.15
77.68
219. 36
43.61
56.36
77.37
221.02
43.04
54.96
73.22
205.30
38.69
56.46
77.56
216. 60
38.88
62.48
80.21
223.21
39.44
65.93
82.91
229.32
40.63
69.09
82.56
229. 38
40.41
68.32
84.24
229. 26
39.59
74.04
90.86
244.45
42.06
82.05
94.98
253. 32
42.87
88.09
92.39
249.50
43.03
82.66
92.86
253. 36
42.36
82.59
92.57
254. 36
42.28
81.37
146.9
156.1
148.9
152.4
112.8
109.7
107.9
166.4
147.7
157.6
149.7
154.6
111.5
107.1
108.5
171.0
138.2
147.3
138.6
141.8
103.0
109.7
102.2
157.1
147.2
158.0
149.4
149.1
104.2
120.6
104.6
159.2
151.7
163.3
153.2
155.4
104.9
125.1
105.8
168.7
157.8
170.7
159.3
164.9
106.2
129.2
105.4
175.1
156.1
168.8
159.9
160.2
105.0
126.5
104.6
180.2
158.4
171.2
164.3
157.8
104.4
139.4
105.2
184.2
168.6
182.6
175.2
165.9
108.6
152.8
106.3
185.7
174.7
189.6
181.5
171.0
111.0
159.1
109.8
180.5
170.3
184.4
175. 0
169.0
111.2
148.7
110.2
180.7
172.3
187.3
179.4
168.8
110.2
148.7
106.1
181.9
173.9
189.3
181.9
167.9
110.5
147.5
105.6
183.4
1,866
81, 089
1,949
72, 396
1,930
72, 026
1,700
65, 977
1,608
63,712
2,090
84, 451
1,864
66, 685
2,261
93, 209
2,969
122, 363
2,086
82, 631
1,683
67,480
1,547
67, 024
2,022
74, 211
1,605
62, 181
1,680
66, 257
1,692
57, 074
1,456
50,038
1,380
48,009
1,796
64,422
1,618
51, 231
1,981
72, 737
2,572
91,995
1,791
61, 534
1,442
53, 327
1,320
50,583
1,740
56,928
4.00
41,604
45,647
44, 549
38, 473
38, 594
48,390
43, 085
59, 820
70, 181
41,234
35, 625
34,290
38, 457
85, 625
2,225
80,652
2,236
82,000
2,247
85, 053
2,257
88, 673
2,272
88, 525
2,325
89, 506
2,333
93, 807
2,353
99,340
2,384
100, 246
2,391
98, 112
2,421
102, 747
2,437
100,120
2,452
INTERNATIONAL TRANSACTIONS OF THE UNITED STATES
BALANCE OF PAYMENTS (QUARTERLY) J
Exports of goods and services, total
Merchandise adjusted
Income on investments abroad
Other services
mil of dol
do
do
do
3,526
2,615
385
526
3,494
2,498
477
519
4,148
3,106
518
524
4,441
3,408
443
590
2,709
2,007
125
577
3,374
2,533
90
751
3,515
2,815
146
554
3 871
3, 199
83
589
Imports of goods and services total
Merchandise, adjusted __ _
_
Income on foreign investments in TJ S
Other services
do
do
do
do
Balance on goods and services
do _
+817
+120
+633
+570
do__
do
.. - -- do
— 1,246
-124
-1, 122
-972
-107
—865
—1,237
127
—1, 110
—1, 150
— 110
—1, 040
U S long- and short-term capital (net), total do
Private
do
Government
do
—220
-181
-39
-872
-835
-37
—264
—258
—6
—293
—236
—57
Foreign long- and short-term capital (net)
+638
+809
+187
—104
+29
+740
+771
+893
Unilateral transfers (net), total
Private
Government
do
Increase (— ) or decrease (+) in U. S. gold stock
mil. of dol
+175
-18
Errors and omissions
do
—90
+84
' Revised.
* Preliminary.
A T^».;I i nen
^Revisions for cash dividend payments publicly reported for January-April 1950 are available upon request. Balance-of-payments data have been revised beginning 1948; revisions through
the first quarter of 1950 will be shown later.
fRevised series. Data for American Telephone and Telegraph stock (included in figures for 200 stocks) are excluded. Monthly data for 1929-48 are available upon request.
§Number of stocks represents number currently used; the change in the number does not affect the continuity of the series.
SURVEY OF CURRENT BUSINESS
July l!>ni
Unless otherwise stated, statistics through
1948 and descriptive notes are shown in the
1949 Statistical Supplement to the Survey
S-21
1951
1950
May
June
July
August
September
October
November
December
January
February
March
April
May
INTERNATIONAL TRANSACTIONS OF THE UNITED STATES—Continued
FOREIGN TRADE J
Indexes
Exports of U. S. merchandise:!
Quantity
Value
Unit value. _
_
___
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
1936-38=100
do
. _ _ _ d o _.
r
193
335
173
r
202
355
'176
178
315
177
r
143
332
232
143
342
240
'162
399
247
r
r
200
368
M84
172
308
!79
r
r
r
209
r
195
366
188
396
189
r
221
431
195
199
393
197
215
435
202
252
517
205
265
556
210
152
418
276
171
496
289
151
442
293
167
504
302
151
466
308
. _ _ do
do
do
141
319
226
. _1924-29=100 _
do
89
122
103
157
69
104
78
109
88
73
80
58
86
67
97
80
83
82
102
125
104
120
130
165
do
do _
102
120
102
124
98
125
101
109
120
98
116
90
117
101
129
117
119
123
141
179
155
181
190
231
do
do _
103
105
108
118
113
126
134
146
122
128
126
127
109
114
103
103
140
133
118
116
132
116
112
104
5,519
6,962
5,586
7,496
i 5, 088
6,883
i 5, 457
7,941
5, 817
7,468
i 5, 885
8, 285
7 533
_
_
r
'157
404
257
r
T
170
446
263
r
152
411
271
Shipping Weight
Water-borne trade:
Exports including reexports thous. of long tons
General imports
do
1
1
5, 306
7,601
1
4,414
7,421
r l
4 225
7 771
1
r
5, 130
7 283
1
1, 076
Value
Exports, including reexports, total
mil. of dol__
By geographic regions:
Africa
__
- _ thous. ofdol _
Asia and Oceania
do
Europe
do _
Northern North America
do
Southern North America
do
South America
_
do
Total exports by leading countries:
Africa:
Egypt
do
Union of South Africa __
do
Asia and Oceania:
Australia, including New Guinea
do
British Malaya
do
China
do
India and Pakistan
do
Japan
do
Indonesia.
do
Republic of the Philippines
do
Europe:
France
do
Germany._
_.
do
Italy
_ _
_ _ _do
Union of Soviet Socialist Republics. _. ..do
United Kingdom
do
North and South America:
Canada, incl. Newfoundland and Labrador .do
Latin-American Republics, total. _ _ _ do
Argentina
do
Brazil _
do
Chile
doColombia
.
_ _ _ _ _ _ _ _
do
Cuba
._ .
do
Mexico
do__.
Venezuela
. do
Exports of U. S. merchandise, total
mil. of doL.
By economic classes:
Crude materials
thous. of dol__
Crude foodstuffs ._
do_
Manufactured foodstuffs and beverages. _do
Semimanufactures 9
_ _ do
Finished manufactures 9 . .
do
By principal commodities:
Agricultural products, total
do
Cotton, unmanufactured
do
Fruits, vegetables, and preparations &__ do
Grains and preparations
do
Packing-house productscf
do
Nonagricultural products, total _ _
__do
Aircraft, parts, and accessories.
do
Automobiles, parts, and accessories^. -do
Chemicals and related produetscf
do
Copper and manufactures d*
do
Iron and steel-mill products
do
Machinery, total c?§
Agriculturalcf- _ _ _ _ _ _ _ _ __
Tractors, parts, and accessories*!
Electricalcf §- Metal working. 1
_
Other industrial d
Petroleum and products
Textiles and manufactures
do
do
do
do
do
do
do
do
829
877
1779
1761
1911
!905
1976
i 1, 063
1973
29, 612
151,288
240, 199
191,369
109, 290
106, 756
36, 500
153, 058
279, 681
173, 978
108, 584
125, 617
29,211
119,436
177, 928
166, 212
115, 565
100, 430
23, 446
122, 991
184, 334
160, 515
115, 213
108, 999
26, 276
133, 783
247, 575
179, 853
141, 857
124, 143
32, 390
120, 204
240, 681
200, 446
122, 630
113, 667
28, 605
148, 450
248, 050
196 455
133, 237
141,201
42, 108
153, 794
284, 380
185, 903
135, 004
150, 178
34, 514
156, 003
244, 429
195 717
130 037
134, 230
3,411
12, 189
2,513
16, 652
3,315
9,170
1.680
9,803
2,442
9,695
2, 359
8,345
3,570
9,939
4, 531
12, 525
6,906
1,583
599
31, 473
35, 820
8,148
22, 184
12, 151
1,980
4,096
25, 003
33, 407
5,522
22, 214
5.986
1,757
3,038
17, 485
33, 552
3,518
17,073
6,646
1,369
8,904
11, 922
31,103
4,001
16, 500
8,880
2,135
1,004
11, 491
45, 225
6,468
17,004
7,422
2,053
984
15,547
36, 569
5,887
16, 508
10, 014
2.441
2,877
20, 434
35, 247
7,223
19. 988
25, 818
38, 222
34, 357
77
29, 267
37, 664
57, 203
39, 623
26
24, 389
14, 198
20, 135
17, 674
9
24, 046
14, 118
25, 852
18, 627
25
41, 581
24,890
42, 652
23, 224
3
59, 538
30, 005
33, 471
22, 009
16
58,109
191, 302
205, 984
11,818
22, 075
6,112
23,612
31, 323
36,712
30, 285
173, 928
223, 697
14, 774
27, 696
5,697
28, 681
36, 695
40, 328
34, 713
166, 181
200, 074
8,963
28, 024
4,333
20 878
38 294
40, 308
26 238
160, 511
214, 298
11, 600
33, 693
4,785
17 004
41,116
40, 880
30, 507
179, 835
254, 457
10, 506
39 494
4,235
18 621
53 143
47, 992
34 923
200, 431
225, 732
11. 440
30 066
4,527
15 520
45 018
45 501
35 383
r
i 1, 284
r
i 1, 374
35, 365
161 848
299 770
194 522
120 857
142, 598
50,114
211,078
317, 754
231 962
161 731
173, 657
48, 215
233, 867
385, 297
263, 436
151, 902
172, 102
5,357
12, 436
4 941
10, 866
4 430
19, 192
4,794
24, 574
10, 832
1,556
84
24,042
42, 818
9, 465
24,303
11, 147
4 217
1
28, 277
38 815
8,858
19,604
7,430
4 893
8
19, 696
57 556
10, 475
17, 980
15, 167
4 304
1
34, 535
67 734
18, 415
24, 107
13, 168
5,463
0
39, 565
73, 061
15, 799
27, 241
35, 037
40, 149
21, 785
74
49, 790
35, 708
37, 587
38, 365
51
47, 563
29 209
32 381
28, 425
7
41, 900
26 104
49 070
41, 141
15
55, 400
27 290
40 607
44, 320
2
63 507
41, 331
44, 491
62, 470
4
69, 621
196, 437
263, 456
14, 624
44 766
6,094
18 706
42' 745
56 059
36 779
185, 892
273, 337
12, 774
44, 648
10, 430
22 075
45 465
56 704
37 759
195, 716
253 772
11 970
36 902
8 963
16 972
46 374
52 744
37 880
194, 519
253 002
16 320
44 378
9 807
14 062
44 816
44 095
34 210
231, 956
320 247
16 333
49 196
16 538
19 063
59 630
58 985
46 260
263, 422
310, 720
19, 010
45 877
13 277
22 252
52 862
60 785
45 523
r
817
866
1768
1750
*898
1893
1965
11,050
1958
11,060
U,264
' 1 1, 357
168, 158
55, 020
48, 247
90, 279
454, 993
192, 101
50, 342
93, 595
471, 905
107, 814
57, 324
55, 475
84 179
462, 990
141,600
56 997
41, 500
84, 621
425, 515
175, 624
60 246
56, 099
102 968
602, 797
164, 321
65 980
53, 168
97 835
511, 630
173, 538
72 109
53^ 544
108 003
562 242
185, 765
80 112
57, 121
117 433
609 161
146, 860
79 206
56, 976
104 770
570 040
173, 870
114 190
59', 1C6
IQQ 259
604 041
173, 223
122 980
76, 218
131 405
757 547
228, 638
163 541
83' 254
134 467
745 071
233, 957
90, 277
14, 492
54, 098
10, 036
262, 346
127, 948
16, 352
59, 984
12, 732
181, 143
46, 454
13, 746
73, 850
11, 581
199, 080
65, 970
12, 899
62, 012
13, 120
252, 815
75, 730
18, 351
72, 426
12,907
233,644
60, 389
17, 484
72, 004
14,013
266, 315
79, 581
14,115
78, 102
12, 840
301, 173
97, 918
15, 389
86, 674
17, 739
253,072
70, 348
12, 484
89, 383
18,452
307, 401
98, 935
13, 241
122, 218
19, 394
329, 889
83, 753
17, 917
129, 874
24, 981
419, 941
117, 761
14, 523
177, 276
29, 339
582, 740
9,150
55, 263
60, 954
5,525
40,639
603, 879
9,854
69, 099
65, 210
4,623
47, 956
586, 639
3,103
62, 927
53, 412
4,075
34, 189
551, 153
1,781
62, 996
57, 396
5,293
34, 826
644, 919
3.821
62, 705
65, 713
5,339
38 021
659, 289
2,438
59, 169
61, 484
5,520
36 353
703, 121
2,672
71, 567
70, 184
5,884
39 888
748, 419
1,357
70, 543
66, 713
10, 361
39 949
704, 781
1,313
78, 281
58, 105
4,491
46 604
753, 064
1,320
87, 230
62, 961
8,221
42 007
931, 484
1,981
1C4, 869
78, 746
7,653
55 384
935, 030
1,850
107, 749
82, 562
9,500
48 071
174, 190
10, 759
22, 795
29, 772
17, 037
75, 428
41, 002
41, 742
177, 522
10, 022
19, 921
34, 501
16, 784
77, 508
38, 677
44, 184
198, 175
9,807
20,411
28 055
15 578
72, 041
40, 671
32, 069
58, 281
1
1. 351
1
1,337
160,821 197, 501 204, 169 220,982 245, 786 227, 388 248, 635 318,016 308, 215
10 859
8 801
1 9 ^84.
5 984
7 838
8 460
10 437
8 289
13 621
18, 227
16, 341
15, 272
19, 545
21, 996
24, 064
21, 503
31, 765
31, 173
qc -i OQ
on QOQ
AC OO4
26 992
A.1 TV\
34 558
33 166
38 556
40 263
iq K77
12 857
Ifi 9"}7
1 7 RQ^i
19 530
19 800
16 325
17 237
15 494
59 543
7Q ^^S
i fYl 1 79
76 212
75 241
80 790
88 0^3
83 131
102 417
38, 144
45, 665
47, 304
48, 530
53, 973
40, 332
39, 345
56 163
63, 151
38, 982
45, 133
51, 414
52, 344
54. 366
58, 770
59. 471
85. 550
79. 172
*9 «. i^S 9 tt „• i TTIQ^ ^rious component items include MDAP shipments as follows (mil. of dol.): July 1950-May 1951, respectively-47.0; 21.4; 31.2; 52.4; 53.9; 76.3; 51.8; 94.8; 96.7;
82.6, 129.2 Beginning July 1950, certain items classed as "special category" exports, although included in total exports, are excluded from water-borne trade and from area and country data.
{Revisions for various periods m 1947 and 1948 have been made (since publication of the 1949 STATISTICAL SUPPLEMENT) in most of the foreign-trade items and there will be further changes
ginning I94b as final data are completed by the Bureau of the Census; moreover, the revaluation of tin imports and the transfer of certain "relief and charity" food items from the nona^ricul-al exports group to the agricultural group have affected the pertinent series back to 1942. Revisions will be shown later.
^Index base changed beginning with the October 1950 SUEVEY. Data prior to August 1949 will be shown later
9 Beginning July 1950 data for semimanufactures reported as "special category, type 1" have been included with finished manufactures.
Jata beginning 1948 have been adjusted in accordance with the 1949 commodity classifications. Unpublished revisions (January-July 1948) are available upon request.
.Excludes "special category" exports not shown separately for security reasons
*New series. Not separately available prior to 1948; included with jagricultural
' "
machinery.
SUKVEY OF CUEKENT BUSINESS
S-22
Unless otherwise stated, statistics through
1948 and descriptive notes are shown in the
1949 Statistical Supplement to the Survey
July 1951
1950
May
July
June
August
1951
September
October
November
December
January
February
March
April
May
INTERNATIONAL TRANSACTIONS OF THE UNITED STATES—Continued
FOREIGN TRADE §—Continued
Value— Continued
General imports, total
thous. of doLBy geographic regions:
Africa
do
Asia and Oceania
-- --do
Europe
_-do_ _..
Northern North America
do
Southern North America
do
South America
- - --do __
By leading countries:
Africa:
Fgvpt
- -do
T^nion of South Airica
do
Asia and Oceania:
\ustralia including New Guinea
do British Malaya
do_ China
-- --do
India and Pakistan
do
Japan
_
- - do__
Indonesia
- do
Republic of the Philippines
-do
Europe:
France
do
Germany
do_
Italy
-- - - do _
Union of Soviet Socialist Republics
do
United Kingdom
do
North and South America:
Canada, incl. Newfoundland and Labrador
thous of dol
Latin- American Republics, total
do __
Argentina
do
Brazil
-__ do
Chile
do
Colombia
- - --do _
Cuba
do
IVTexico
do
Venezuela
do_
659, 090
685, 859
707, 884
819, 481
857, 864
922, 004
851, 694
864, 105
1,022,077
37, 550
137,845
94, 594
167, 645
95, 844
125, 612
36, 660
149, 525
99, 455
178, 535
87, 653
134, 031
33, 364
150, 435
100. 992
163, 438
94, 499
165, 155
39, 295
160, 086
120. 581
160. 379
119, 593
219, 547
63,316
167, 384
136, 150
179. 020
97, 831
214, 162
39, 318
217, 060
162,936
201,005
93, 729
207, 956
35, 332
215, 443
166,036
186, 366
86, 252
162, 264
55, 917
199, 742
156, 408
185, 695
91, 228
175, 115
55, 589
248, 983
180,538
184, 551
116, 409
236, 007
44, 570
186, 905
173,819
154,072
127,442
220,152
66, 867
267, 120
193, 877
190, 603
128, 920
252, 233
69, 466
262, 083
181. 774
191.378
117,700
201, 983
262
10, 850
202
11, 878
304
8,773
5, 965
12, 225
19, 735
15, 543
235
16,357
355
11, 363
3, 268
17, 779
4,572
14, 830
486
15,611
291
15, 896
19, 652
15 036
13, 148
21, 771
11,072
20, 585
17,152
7,085
21, 589
7,421
25,516
11,728
22, 418
15, 580
13, 505
20, 420
8,972
23, 932
12, 159
22, 004
13. 758
10, 280
19, 393
9, 883
30, 227
11.746
21, 333
16, 744
15. 485
20, 622
9,593
24, 749
14, 639
29. 883
18. 582
13, 875
21, 026
5,546
31.723
19,647
33.022
21,641
21,801
26, 043
17, 099
39, 460
13, 767
27. 691
19. 792
20, 321
21, 347
19, 770
38, 230
16, 196
20, 254
17, 617
23, 281
19, 348
12, 255
54, 828
12. 688
36, 775
17, 639
33, 603
21, 606
9,458
34,089
5, 700
27,293
16, 650
18, 965
31,287
42, 114
38, 989
4,879
37, 549
20, 101
25, 550
29, 451
58 336
35, 187
2,722
38, 003
17. 360
19, 631
31, 181
6,542
4,897
5,799
3,558
24, 090
7,701
6,175
7,161
3,017
27, 174
8, 262
6,268
6, 590
4,300
26, 373
12, 614
8,528
9,412
2,182
36, 380
13, 888
11,136
10, 390
6,420
31, 473
15,476
15,162
16, 579
2,130
39, 085
19, 283
16, 152
13. 904
1,439
42, 580
21, 176
14, 734
11, 945
1,899
32, 758
24, 789
18,090
13,003
2. 259
37, 269
24,403
14,257
12, 572
2,153
38, 606
31, 525
18, 913
13, 590
1, 338
37, 650
26 305
18 212
13,411
2,207
43, 107
167, 500
206, 860
15,881
45, 073
16, 248
13,301
36,611
26, 577
23, 265
178, 259
207, 295
13, 840
37,912
16, 621
15, 587
29, 078
25, 337
26, 959
163, 310
245. 564
17, 432
64, 998
7.977
26,091
34,124
22, 251
26, 882
160, 342
321,473
18, 624
83. 679
15, 070
42, 650
54, 253
26, 502
29, 824
178, 845
297, 200
17,211
85, 034
14, 223
40. 474
42, 976
28, 716
26. 783
200, 804
283. 301
18, 138
82, 152
15. 613
38, 642
38, 23S
27.247
28 972
186, 356
230. 537
17,392
68, 733
13, 534
22. 675
24, 143
31,216
25, 078
185, 686
245, 665
13, 977
63, 046
19, 521
20, 605
18 506
35 124
24, 905
184, 421
330.511
27,157
85, 395
15,341
35, 041
30 8?9
31,548
28, 834
153,828
328, 939
25, 881
84, 856
16,007
27, 002
39,915
29, 646
26, 076
190, 578
363, 269
34, 749
100, 668
15, 400
27, 616
43, 546
32, 936
27, 002
191 213
303 305
32 875
64, 452
27 584
19, 237
41 214
28, 990
26, 038
Imports for consumption, total
_ _ _ __do
By economic classes:
Crude materials
do
Crude foodstuffs
do
Manufactured foodstuffs and beverages do _
Semimanufactures
do
Finished manufactures
do
By principal commodities:
Agricultural products total
do
Coffee
- - - do_ __
Hides and skins
do
Rubber crude including guayule
_ do_ _
Silk unmanufactured
do
Sugar
do _
Wool and mohair, unmanufactured
do_ .
Nonagricultural products total
- do __
Furs and manufactures
- do_ __
Nonferrous ores, metals, and manufactures,
total
thous. of dol
Copper incl ore and manufactures do
Tin including ore
do
Paper base stocks
- - do
Newsprint
(3o
653, 955
679, 365
701, 378
817, 771
824, 319
913, 535
841,014
856, 668
1,016,795
167, 599
117, 240
75, 971
169, 031
124, 114
184,242
119,916
75, 144
180, 499
119, 565
184,216
154, 611
83.114
162, 642
116, 796
222, 891
181.499
103. 782
184, 146
125, 453
224, 467
179, 484
88,151
196, 600
135, 617
255, 478
172, 039
87, 431
239, 423
159, 164
254, 801
142, 245
73, 251
214,670
156, 048
269, 943
148 150
63, 637
228 064
146, 875
330, 604
207 212
77, 052
238, 583
163, 343
278, 891
58, 783
8, 506
23, 786
1,215
37, 067
31,055
375, 064
8,030
289, 210
56, 374
12, 026
33, 853
1,422
31, 109
31,044
390,155
5,300
331, 731
105. 153
11,664
29, 994
1,706
34, 213
39, 247
369, 648
8,308
410, 125
130. 836
12,481
39, 824
1,249
53, 309
46, 864
407, 646
6,281
393, 070
128. 376
10, 598
41, 109
2, 571
40,156
36, 757
431,249
13, 689
405, 193
112, 567
12. 968
58. 922
3, 159
35, 033
33.394
508. 343
14, 279
363, 730
88, 085
11,418
68. 370
2,521
17, 494
38, 936
477, 284
9,313
356, 298
84, 083
8,444
71,309
2 020
14 564
38, 250
500 370
11, 032
507, 460
142,648
11,454
101.076
2,102
29, 381
66, 291
509, 335
14, 130
71, 606
23, 283
17, 456
21, 438
44, 927
45, 295
80, 180
32, 771
14,911
23, 945
40, 544
47, 299
63, 981
12, 779
21.230
20, 830
38,410
45,413
76, 417
14, 598
24, 016
21,577
34, 066
50, 255
68, 044
16, 649
17,413
23, 073
38, 933
47, 790
88, 887
29, 633
19, 788
26. 335
42. 000
55. 338
79, 044
19, 744
15, 243
27, 974
37, 142
50, 736
104, 726
28,118
19, 158
27, 808
41 058
53 950
Petroleum and products
do
906, 960 1, 099, 619 1, 024, 385 1,017,700
906, 443 1,033,994
956, 735
282, 993
201 , 301
86, 132
199, 906
136, 112
311,267
233, 869
92, 968
225, 746
170, 145
330, 569
159 212
89, 477
214 050
163, 428
476, 223
139, 327
8,516
63, 447
1,838
41,017
53. 692
430, 220
TO, 258
538, 646
152,933
10, 728
74, 345
2,081
40, 491
84, 903
495, 348
11, 769
470, 002
96, 645
10 918
65, 026
1 626
39, 717
104, 779
486, 734
16, 565
91, 740
23, 466
27, 066
32,313
39, 742
59, 661
61,194
22, 662
15, 443
30, 808
32, 942
50, 307
76, 057
17, 952
23, 219
30, 773
44, 222
' 50,246
69, 182
21 , 909
13, 297
29, 166
39, 287
51, 259
r
945, 800
TRANSPORTATION AND COMMUNICATIONS
TR AN SPORTATION
Airlines
Operations on scheduled airlines:
Miles flown revenue
thousands
Express and freight carried
short tons
Express and freight ton-miles flo w n _ _ thousands _ _
Mail ton-miles flown
do
Passengers carried revenue
do
Passenger-miles flown revenue
do
28, 868
19, 347
12, 418
3,741
1,419
665, 511
28, 591
20, 717
12, 367
3,498
1, 539
762, 097
28, 860
18, 134
11,654
3,252
1.459
723, 803
28, 778
21, 776
13, 707
3, 775
1,562
749, 845
27, 564
22, 540
13, 672
3,762
1,490
719, 494
28, 552
25, 489
15, 171
4,245
1, 563
735, 180
26, 067
22. 780
13, 918
4,112
1,326
620, 156
27, 926
25, 014
14, 892
6,232
1 365
684, 444
28, 445
19, 758
12, 258
4 463
1 421
722 163
25, 316
21, 182
13, 087
4,704
1 324
663 767
29, 780
21,662
13, 620
5, 124
1 660
835 920
29, 085
18, 111
11, 287
4, 541
1 708
834, 685
thous. of dol
do
18, 501
67
18, 174
*5
17, 226
223
17, 647
178
17, 697
176
17,318
189
18, 312
194
21,890
195
18, 294
61
18, 007
39
19, 377
80
18. 769
24
cents.
millionsthous of dol
10. 0268
1,214
124, 400
10. 0681
1,140
117, 400
9. 9708
1, 048
113, 000
10. 0341
1,099
121, 600
10. 0608
1,094
114. 300
10. 0827
1,177
125, 800
10. 1630
1, 116
123, 100
10. 1995
1, 183
137,200
10. 2360
1,168
125, 300
10. 2676
1.050
117 100
10. 4185
1,174
10. 4818
1,097
10.5231
1,117
2,700
546
61
164
182
24
65
284
1,373
3,785
689
81
229
247
35
101
425
1,979
3,152
546
61
193
198
34
216
324
1,580
3, 233
537
65
197
178
33
330
309
1,582
Express Operations
Operating revenues
Operating income
Local Transit Lines
Fares, average cash rate
Passengers carried, revenue... _ ._
Operating revenues^
Class I Steam Railways
Freight carloadings (A. A. R.):cf
3,374
3,018
4,220
3,905
3, 240
3,629
3,531
3,009
2,980
Total cars
thousands
469
617
705
599
742
787
572
632
657
Coal
. - _ - -do
59
58
63
75
64
73
75
64
56
Coke _ _
_
___do
r
202
176
182
239
172
191
227
218
187
Forest products
do
222
215
229
246
225
223
159
256
214
Grain and grain products
do_
26
31
62
36
50
49
66
38
34
Livestock
do
324
329
301
96
388
409
223
239
68
Ore
_-- do
306
352
354
332
438
400
380
308
Merchandise, 1. c. L
do __ r 325
1,574
1,433
1,963
1,569
1,846
1,673
1,814
1, 423
1, 498
Miscellaneous
-do
r
d
Revised.
Deficit.
§See note marked "J" on p. S-21.
JRevisions for January 1947-May 1948 appear in corresponding note on p. S-22 of the August 1949 SURVEY.
d"Data for June, September, and December 1950 and March 1951 are for 5 weeks; other months, 4 weeks.
SUEVEY OF CURRENT BUSINESS
July
S-23
1951
1950
1948 and descriptive notes are shown in the
1949 Statistical Supplement to the Survey
May
June
July
August
Septem- October
ber
November
December
January
February
March
April
May
TRANSPORTATION AND COMMUNICATIONS—Continued
TR AN SPORTATION—Continued
Class I Steam Railways—Continued
Freight carloadings (Federal Reserve indexes) :
Total unadjusted
1935-39—100
Coal
do
Coke
do __
Forest products
do ___
Grain and grain products
do
Livestock
do_ _ _
Ore
do
Merchandise, 1. c. 1
_- do
Miscellaneous _
do ___
Total, adjusted
do
Coal
_
do
Coke
do
Forest products
___do_
Grain and grain products
do
Livestock
do
Ore
do
Merchandise, 1. c. 1
_ _ do _
Miscellaneous-.
. _
do __
Freight-car surplus and shortage, daily average:
C a r surplus, total . _
_ _ _ _ _ _ _ number.
J3 ox cars
do
Coal cars __ _ _ _ _
do
Cnr shortage, total
do
Box cars
do
Coal cars. _
_
_do
Financial operations (unadjusted):
Operating revenues, total
thous. of dol
Freight
do
Passenger
do
Operating expenses
do
Tax accruals, joint facility and equipment rents
thous. of dol__
Net railway operating income _ _
do
"Met incomet
do
Financial operations, adjusted:
Operating revenues, total
mil of dol
Freight
do
Passenger
do
Railway expenses
do
Net railway operating income
do
Net income
do
Operating results:
Freight carried 1 mile
mil of ton-miles
Revenue per ton-mile
cents
Passengers carried 1 mile, revenue
millions. _
133
112
193
156
139
61
193
51
149
136
112
197
156
158
68
212
51
151
135
111
208
160
124
57
296
48
149
133
111
210
154
141
64
212
48
148
8, 601
24
2,812
14, 603
9, 484
3,815
8, 300
1,203
434
9, 858
4, 760
3, 929
125
119
179
139
112
59
217
51
135
122
119
181
134
127
66
121
51
133
131
116
188
150
133
51
277
52
142
127
116
192
144
130
61
179
52
138
130
105
190
149
162
48
298
51
141
126
105
195
148
135
61
186
51
140
140
126
186
163
150
57
285
56
149
135
126
194
155
139
60
190
56
147
145
135
198
160
143
95
298
57
154
134
135
201
148
128
72
198
55
142
147
135
201
154
159
116
262
56
158
136
135
206
146
159
75
184
54
145
139
126
198
154
162
90
188
54
152
136
126
198
157
166
72
184
53
146
130
129
204
145
148
70
62
£0
142
140
129
194
162
158
72
199
52
151
133
133
209
153
153
66
61
50
145
146
133
199
170
153
69
243
52
158
119
114
197
137
131
44
60
46
133
129
114
186
143
134
55
241
48
141
130
112
204
147
138
49
70
54
149
139
112
202
147
150
62
241
53
157
12, 178
3, 189
1, 957
6, 663
2,986
3,080
6,625
1,949
513
11,491
5,845
4,748
8,311
234
4,389
21, 154
13, 875
6,103
4,346
16
39
38, 064
21, 846
14, 101
3, 583
8
30
34, 381
19, 444
13, 243
2,405
9
113
35, 135
19, 620
14, 349
4,926
432
386
24, 696
13, 838
10, 245
6,258
956
975
14,798
8,998
4,989
5,677
705
1,138
19,267
12, 006
6,528
2,680
87
572
29, 977
19,449
8, 518
2,387
7
724
32, 365
24, 275
5,323
406
747
801
567
779, 182
649, 228
71, 660
588, 763
772, 161
639, 729
76, 006
579, 116
889, 796
748, 110
78, 220
626, 265
872, 032
725, 014
71, 623
600, 697
925, 383
784, 544
66, 271
635, 021
862, 201
710, 808
65, 885
618, 611
927,
673,
79,
645,
729
736
158
246
715,759
600,157
63, 836
610, 060
875, 475
741, 001
70, 569
679, 662
851,
722,
66,
668,
445
012
762
850
888, 716
752, 588
70, 657
693, 820
97, 767
67, 073
45, 221
100, 372
90, 047
72, 050
109,134
83, 910
58, 622
141,467
122, 064
95, 829
148, 712
122, 622
98, 965
155, 733
134, 629
107, 863
133, 590
110, 001
86, 146
169, 190
113,319
120, 060
125, 792
77, 691
54, 926
86. 740
18, 959
d 5, 61S
117. 550
78, 263
51,187
112, 000
70, 595
44, 685
119, 977
74, 937
715.2
604.6
57.4
660.9
54.3
20.2
791.4
663.4
69.2
691.5
100.0
69.7
771.9
646.1
69.7
685.9
86.1
54.1
832.5
699.2
69.8
744.3
88. 2
54.8
857.6
711.1
71.9
749.1
108.5
72.8
884.6
747.2
67.7
776.2
108.4
74.3
863.0
710.8
68.9
759.8
103.2
70.5
941.0
708.3
77.8
849.4
91.6
59. 5
863.5
720.0
81.6
765.8
97.7
65.7
783.4
653.6
70.7
742.5
40.9
10.9
854.2
716.8
71.4
783.1
71. 1
r
38. 9
872.7
738. 6
69.1
799.7
73.1
*>40. 9
51, 155
1.314
2, 215
51, 865
1.326
2,830
51, 982
1.305
3,042
59, 403
1.325
3,125
57, 940
1.320
2,818
62, 017
1. 332
2, 573
54, 817
1.363
2,500
54, 608
1.310
3,058
56, 510
1.319
3, 003
48, 367
1.308
2, 415
59, 069
1. 325
2,718
56, 908
1. 337
2, 583
7,638
4,503
3,135
8,130
4,860
3,271
7,647
4, 648
2,999
8,559
5,308
3,251
8,402
5, 135
3,267
8,220
5,165
3,055
7,364
4,320
3,044
7,244
4,207
3,037
6,516
4,019
2,497
6,860
4,216
2,644
8,250
4,660
3,590
9,299
5,216
4,083
2,606
1,447
2,562
1, 460
2,857
1,668
2,452
1,477
2,356
1,307
2,478
1, 157
2,236
1,074
2,216
1,011
2,338
1,104
2,433
1,032
2,713
1,237
2, 668
1, 360
2, 695
1,286
5.26
83
239
5.64
84
238
5.43
77
207
6.13
81
231
5.98
84
232
6.17
86
228
6.27
79
225
5.78
66
208
5.95
79
228
5.97
81
224
5.83
78
214
6.36
82
244
5. 79
81
251
50, 283
60, 413
2,083
19, 974
41,453
886
56, 902
88, 305
3,384
18,215
41, 233
1,930
78, 030
1 80, 854
96, 425
i 61, 804
88, 706
i 44, 776
1
59, 768
36, 058
46, 242
1 31, 869
44, 810
i 39, 453
52, 209
1 48, 561
59, 093
157,074
63, 969
1 64, 845
v 17, 905
21, 635
3,271
J> 18, 575
18, 037
3,300
»> 15, 452
13, 827
1,474
J> 14, 090
12, 734
833
v 16, 288
12, 115
326
v 20, 263
10, 614
242
v 18, 519
16, 832
256
* 12, 395
17, 067
259
* 15, 281
26, 113
376
30, 227
541
664
6,229
861
8,009
850
7,826
930
8,444
936
8,513
955
8,658
871
7,905
947
8, 608
1,222
11,151
823
8,666
883
9, 264
805
8, 500
285, 947
168.157
98, 504
208, 569
37,310
37, 158
287, 467
169, 767
98, 275
204, 849
33, 929
37, 304
289, 528
169, 124
100, 646
205, 664
41, 489
37, 441
300, 617
172, 540
108, 189
211,798
35, 337
37, 620
292, 847
173, 265
99, 290
205, 109
39, 584
37, 790
303, 234
178, 120
104, 346
212, 572
41, 369
37, 987
298, 071
178, 184
98, 941
208, 249
40, 861
38, 166
311, 414
181, 781
107, 994
222, 491
40, 921
38, 437
314, 713
184, 531
108, 897
219, 140
41, 025
38,619
301, 961
181,037
99, 495
209, 150
39,475
38, 803
319, 021
185, 045
111,979
222, 296
41, 444
39, 029
15, 192
13, 262
1,090
15, 378
13, 086
1,469
14, 738
13, 272
671
16, 022
13, 716
1,525
15, 041
13, 364
940
15, 531
13, 358
1,461
15, 251
13, 439
1, 135
16, 643
14, 506
1,485
15, 610
13, 855
880
14, 545
12, 924
764
16, 391
13, 996
1,521
15,014
13, 282
882
1,902
1,612
116
1,943
1,552
207
2,189
1,563
418
2, 295
1,581
510
2,254
1, 553
507
2,265
1,569
494
2,232
1,470
590
2, 638
1,691
672
2,508
1,650
616
2,180
1,642
337
2,326
1, 683
427
2,215
1,638
364
1,967
1,803
64
2,055
1,781
175
2,228
1,808
325
2,408
1,795
525
2,244
1,819
335
2, 331
1,787
453
2,326
1,804
437
2,583
2,057
453
2,621
1,959
548
2,302
1,838
350
2,476
1,954
409
2,350
1,895
332
745,
634,
56,
580,
930
554
271
422
848,
709,
78,
645,
r
Waterway Traffic
Clearances, vessels in foreign trade:
Total IT S ports
thous of net tons
Foreign _ _ _ _ _
d o
United States
do
Panama Canal:
Total
thous. of long tons
In United States vessels
do
Travel
Hotels:
Average sale per occupied room _
dollars
Rooms occupied _ _ . . _ _ _ _ percent o f total
Restaurant sales index
same month 1929= 100. .
Foreign travel:
U S citizens, arrivals
number
U . S . citizens, departures
do
Emigrants
do
Immigrants
do
Passports issued
do
National parks, visitors
thousands..
Pullman Co.:
Revenue passenger-miles
millions. _
Passenger revenues
thous of dol
1
60, 854
57, 982
35, 678
920
COMMUNICATION S
Telephone carriers:!
Operating revenues
thous of dol
Station revenues
do
Tolls, message
do
Operating expenses, before taxes
do
Net operating income
do
Phones in service, end of month
thousands..
Telegraph, cable, and radiotelegraph carriers:
Wire-telegraph:
Operating revenues
thous. of dol
Operating expenses, incl. depreciation
do
Net operating re venues
do
Ocean-cable:
Operating revenues
do
Operating expenses, incl. depreciation
do
Net operating re venues
do
Radiotelegraph:
Operating re venues
do
Operating expenses, incl. depreciation
do
Net operating revenues
do
r
1
d
Revised.
» Preliminary.
Deficit.
JRevised data for April 1950, $38,921,000.
Data exclude departures via international land borders; land-border departures during the 12 months ended June 1950 amounted to less than 1 percent of total departures.
t Re vised series. The coverage has been reduced from 100-120 to 55 carriers (except for January 1948-December 1949 when data covered 53 carriers); however, the comparability of the series,
based on annual operating revenues, has been affected by less than 3.0 percent. Also, data are now shown after elimination of intercompany duplications for the Bell System; annual data
prior to 1948 and monthly figures for January-July 1948 on the revised basis will be available later. Data relate to continental United States.
SURVEY OF CURRENT BUSINESS
S-24
Unless otherwise stated, statistics through
1948 and descriptive notes are shown in the
1949 Statistical Supplement to the Survey
Julv 1951
1951
1950
May
June
July
August
Septem-
Novem-
October
ber
ber
Decem-
ber
January
Febru-
ary
March
April
May
CHEMICALS AND ALLIED PRODUCTS
CHEMICALS
Inorganic chemicals, production:
Ammonia, synthetic anhydrous (commercial)
124, 617
141, 373
128, 596
136, 736
146, 280
148, 931
125, 027
147, 289
133, 871
133, 842
127, 295
147, 560
short tons
8,920
2,850
3,140
2,614
10, 274
3,390
5,342
3,900
4,352
4,898
9,334
6,566
Calcium arsenate (commercial)
thous. of Ib
54, 320
61, 961
55, 237
55, 323
58, 770
52, 388
57, 436
50, 035
60, 225
59, 107
56, 482
Calcium carbide (commercial)
short tons__
62, 557
Carbon dioxide, liquid, gas, and solidj
133, 728
82, 902
73, 542
107, 708
94, 156
139, 130
73, 546
86, 012
131,314
67,076
thous. of lb__ 114, 286
100, 420
173, 117
165, 828
185, 537
192, 604
187, 666
197, 967
173, 788
182, 994
207, 106
167, 721
177, 269
200, 298
Chlorine, gas
short tons
51, 521
52, 785
58, 492
57, 389
57. 893
51, 288
57. 410
50, 944
57. 467
52, 157
50, 635
Hydrochloric acid (100% HC1)J
do
57, 046
2,924
4,632
5,114
3,598
2,196
4,672
5, 082
2, 326
4,406
Lead arsenate (acid and basic)
thous. of Ib
2,670
0)
0)
105, 206
124, 376
119, 661
133, 483
133, 264
105, 831
107, 210
125, 732
116, 122
111,511
104, 604
118,132
Nitric acid (100% HNOs)
short tons
r
1,512
1,647
1, 703
1,742
1, 529
1,666
1,542
1,400
1,447
1,404
1,819
1 812
Oxygen (high puritv)t
mil of cu. ft
136, 187
132, 912
142, 103
142, 534
131, 302
151, 187
141, 107
141, 496 r 163, 673 152, 408
146, 673
Phosphoric acid (50%, HsPO4)
short tons
135, 526
Soda ash, ammonia-soda process (98-100%
370. 649
180, 849
443, 706
170, 142
334, 296
445, 389
461, 412
185, 885
291, 681
388, 169
439, 773
402,517
Na2Co-i)
short tons
r
5,649
8,424
8,577
9,670
5,492
7,418
10, 170
12, 171
11,321
7,907
8,135
9,936
Sodium bichromate and chromate
do
233, 284
244, 883
248, 449
258, 596
219, 641
200, 836
227. 178
251, 154
Sodium hydroxide (100% NaOH)
do
0)
0)
0)
0)
Sodium silicate, soluble silicate glass (anhy55, 544
32,278
54, 708
29,929
47, 317
56, 300
53, 338
45, 588
40, 899
37, 707
51, 485
45, 132
drous)
short tons
Sodium sulfate, Glauber's salt and crude salt
61, 820
75, 882
80, 924
54, 725
70, 333
77, 157
75,296
79, 517
75, 267
77, 452
54, 377
49, 567
cake
short tons
Sulphuric acid (100% H 2 SO4):
Production!
do
1, 104, 335 1, 039, 938 1,047,544 1, 051, 694 1, 057, 851 1, 137, 367 1, 121, 357 1, 183, 514 1, 162, 351 1,051,004 1, 172, 100 1, 132, 830
Price, wholesale, 66°, tanks, at works
19.85
17.75
17.75
19.33
19.97
17.75
20.00
20.00
17.75
17.75
20.00
20.00
dol. per short ton__
Organic chemicals:
Acetic acid (synthetic and natural), production
41, 593
40, 218
36, 352
42, 476
41,321
38,300
36, 941
39, 520
41, 012
43, 069
37, 633
thous of Ib
78, 221
83, 012
79, 462
77, 364
82, 240
77, 963
80, 743
70, 155
75, 183
74, 992
85, 553
Acetic anhydride, production
do
885
766
1,080
1,116
967
921
672
1,081
1,013
867
1,090
\cetylsalicylic o.cid (aspirin) production do
Alcohol, denatured:
16,
582
17,
733
19,
273
21,
265
16,
708
17,
839
18,
719
21,
440
16,
288
28, 198
15, 994
19, 146
Production
thous. of wine gal
16, 861
17, 120
18, 727
19, 888
18, 474
19, 340
22, 002
18, 204
20, 448
16, 340
16, 850
18, 517
Consumption (withdrawals)
do
1,744
3,199
2,012
3,118
1,604
2,611
1,467
8,713
1,533
2,517
1,487
2,099
Stocks
_
do _
Alcohol, ethyl:
35,
256
33,
098
40,
910
34,
763
37,
391
41,
466
34,
721
31,
102
31,727
35,
629
37,
740
33, 410
Production
thous. of proof gal
44, 066
24, 580
36, 597
44,010
29, 432
54, 761
21, 619
65, 962
28 502
59, 641
23, 248
71, 001
Stocks total
do
42,
735
23,
886
43,
251
35,
979
52,
075
20,
489
29,
088
59,
548
22,
284
57,
299
27, 614
62, 087
In industrial alcohol bonded warehouses- do
1,331
694
759
619
344
2,686
1,130
2, 342
6,414
888
964
8,914
In denaturing plants
do
r
23, 813
27, 870
31, 151
22, 941
26,611
20,910
29, 418
33, 018
22, 876
30, 340
35, 468
Withdrawn for denaturation
do
30, 922
3,877
6,928
3,422
3, 035
4,986
3,660
5,080
3,257
4,188
3, 881
2,937
Withdrawn tax-paid
do
2,051
11, 747
11,510
11, 756
13, 373
12, 869
10, 929
11,851
12, 769
11,407
12, 997
Creosote oil production
thous of gal
11. 668
7,824
7,737
7,922
8,168
7,665
11, 749
9,746
5,646
5,624
7,861
Ethyl acetate (85%), production
thous. of Ib
9,307
Glycerin, refined (100% basis):
High gravity and yellow distilled:
8,821
7,419
8,222
8,829
4,822
7,631
8,450
8,079
8,420
7,753
Production
thous. of Ib
8,635
7 603
8,581
8,994
8, 850
7,239
8,257
8,038
8,633
7,961
7,591
Consumption
do
8,007
7,629
7,541
14,
180
15,
983
12,297
13,
070
17,
646
13, 518
12, 855
14, 302
15, 132
17, 204
18, 644
Stocks
.
_ do
18, 820
Chemically pure:
12, 262
11,827
12, 968
13, 435
14, 199
12, 098
7,430
10, 865
9,932
13, 499
14, 326
Production
..do. _
13, 299
8,246
7,961
9,007
8,774
8,363
7,399
8,450
8,364
Consumption
do
8,011
8,423
7,687
7,473
19,
115
17,
787
20,
132
21,
920
19,
368
18, 172
18, 444
23, 678
Stocks . _
do
22, 537
23, 580
26, 046
27,411
Methanol, production:
184
182
162
170
175
167
183
177
174
173
156
Natural (100%)
thous. of gal
160
T
13, 474
14, 621
11, 395
12, 308
15, 615
11, 125
12, 984
10, 063
10, 417
13, 200
15, 349
Synthetic (100%)
do
18,
237
20,
250
18,
367
19,
902
19, 839
15, 675
16, 209
17, 615
19, 031
Phthalic anhydride, production
thous. of Ib
19, 035
22,114
20.00
28, 063
29, 184
8,944
46, 179
91, 085
72, 221
18, 864
36, 180
1,719
7,882
8,211
19, 026
11,098
8,263
27, 399
FERTILIZERS
385
325
551
998
408
Consumption (14 States)!
thous. of short tons__
226, 631
250, 642
495, 432
450. 744
283, 942
Exports, total
_
___ short tons
83,
193
90,
482
129, 204
128, 730
50, 081
Nitrogenous materials
do
129, 904
141, 469
289, 520
347, 639
213, 503
Phosphate materials
do
7,095
10, 989
Potash materials
do
7,147
12, 741
10, 325
70, 484
50, 974
214, 918
111, 954
Imports, total
_ _
do
129, 288
54, 762
Nitrogenous materials, total
do
166, 523
83, 783
37, 835
104, 447
7,990
Nitrate of soda _
.
__
do _
103, 322
40, 269
1,110
51,717
7,153
Phosphate materials
do
13, 659
15, 321
3,298
11, 496
Potash materials
do
3,407
10, 744
1,056
2,518
3,365
Price, wholesale, nitrate of soda, crude, f. o. b. cars,
51.50
port warehouses.
dol. per short ton
51.50
51.50
51.50
51.50
107, 056
134, 624
97, 301
114, 710
Potash deliveries
snort tons
83, 446
Superphosphate (bulk):
r
r
850, 941 ' 732, 499 ' 866, 723 r 876, 023
Production
_ __ _
do
l,007,617
r
912, 909 "•1,194,074 '1,313,007 "•1,250,575 r l, 224, 030
Stocks end of month
do
r
598
189, 531
34, 229
139, 759
11, 984
199, 190
147, 304
70, 666
4,542
33, 814
737
206, 658
31, 506
148, 979
9,626
154, 905
97, 106
34, 134
5,503
43, 723
852
145, 250
28, 470
77, 061
8,889
167, 832
123, 172
50, 064
9,187
29, 343
2 1, 523
161, 690
15, 907
136, 398
6,496
215, 934
143, 421
54, 690
5,296
58, 309
2
1,308
151, 354
16, 181
117, 286
8,846
230, 892
128, 087
58, 676
7 786
77 413
2 1, 622
209, 649
15, 430
177, 554
8,399
259, 450
165, 929
74, 451
12, 034
63,701
2 1, 407
244, 818
17 176
201 917
13, 407
344 573
212, 781
94, 251
8 918
31 105
51.50
114, 210
51.50
113, 400
51.50
125, 316
53.50
121, 153
53 50
105 636
53 50
128 661
53 50
115 369
r
953, 689
l, 157,052
2
994
53. 50
110 777
r
r
948, 923 f 974, 544
985, 805
968, 233 1, 107, 048 1,048 939
l. 150,886 •1,207,228 1, 194,507 1 124 108 r 953 785
854 999
NAVAL STORES
Rosin (gum and wood) :
Production, quarterly total
drums (5201b.)__
Stocks, end of quarter
_ _ .do
Price, gum, wholesale. " WG" grade (Sav.) , bulk*
dol. perlOOlb..
Turpentine (gum and wood) :
Production, quarterly total
bbl. (50 gal.)
Stocks end of quarter
do
[jfcjr giu__
Price, gum, wholesale (Savannah)__dol. pergaL.
r
566, 830
936, 460
5.29
4.93
..40
w
200, 670
191, 200
.40
. tu
542, 770
711,430
594, 250
873, 340
5.59
.41
.ti
6.11
.46
. ^tu
6.61
194, 050
151 430
.64
.ira
7.26
./i
.71
8.27
. ot
.87
8.43
171, 260
159, 820
.80
. ou
433, 180
558,580
8.90
.&{
.87
8.90
. yz
.92
8.90
141, 200
128 760
. yz
.92
8.90
.y;_
.92"
8.90
./y
.79
!
2
Revised.
Not available for publication.
Excludes data for Virginia; effective January 1951, this State will report quarterly (January-March 1951 figure for Virginia, 296,000 short
tons).
^Figures are not strictly comparable with those prior to 1948 because of the inclusion of data for additional plants. For January 1948-May 1949 revisions including data for these
plants, see note at bottom of p. S-25 of the August 1950 SURVEY.
tRevised series. Beginning in the January 1950 SURVEY, data for fertilizer consumption in 14 States have been substituted for the 13-States series formerly shown; revised figures prior
to November 1948 will be shown later.
*New series. The series for rosin "WG" (window glass) grade, which is compiled by the U. S. Department of Labor beginning November 1948, and prior to that month by the Oil, Paint,
and Drug Reporter, has been substituted for the "H" grade formerly shown. Data beginning 1935 are shown on p. 24 of the September 1950 SURVEY.
SURVEY OF CURRENT BUSINESS
July 1051
S-25
1950
Unless otherwise stated, statistics through
1948 and descriptive notes are shown in the
1949 Statistical Supplement to the Survey
May
July
June
1951
September
August
October-
November
December
January
February
March
May
April
CHEMICALS AND ALLIED PRODUCTS—Continued
MISCELLANEOUS
Explosives (industrial), shipments:
Black blasting powder
High explosives
Sulfur:
Production
Stocks
1,407
59, 843
thous. of l b _ .
do
long tons
do
1,148
59, 805
1,235
55, 128
1,837
68, 581
1,912
60, 822
2, 057
64, 557
1, 626
59, 724
1.955
56, 378
1,772
51, 896
1,407
49 211
936
59, 128
985
54 277
743
63, 2S5
440, 262
424, 269
436, 612
446, 245
466, 063
452, 060
419, 312
475, 694
487, 845
435, 290
438, 843
409 377
453 685
2, 875, 893 2, 956, 333 2, 975, 927 2, 935, 503 2, 853, 688 2, 822, 913 2, 762, 528 2, 654, 530 2, 736, 188 2, 759, 837 2 796 784 2, 750, 305 2,711,267
FATS, OILS, OILSEEDS, AND
BYPRODUCTS
Animal fats, greases, and oils:
Animal fats:
Production
thous of Ib
Consumption factory
do
Stocks end of month
_ do
Greases:
Production
do
Consumption, factory
do
Stocks, end of month
do
Fish oils:
Production
do
Consumption factory
do
Stocks, end of month
_
do
Vegetable oils, oilseeds, and byproducts:
Vegetable oils, total:
Production crude
mil.oflb
Consumption, crude, factory
do
Stocks, end of month:
Crude
- do
Refined
do
Exportsf
thous o f l b
Imports total
do
Paint oils
- - do
All other vegetable oils
do
Copra:
Consumption factory
short tons
Stocks, end of month
do
Imports
do
Coconut or copra oil:
Production:
Crude
thous. of l b _ _
Refined
_ do _
Consumption, factory:
Crude
do ___
Refined
- do _ _
Stocks, end of month:
Crude
-- do
Refined
_
do_.
Imports
do
Cottonseed:
Receipts at mills
thous of short tons
Consumption (crush) _
„
_ _ _ do _ _
Stocks 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 Ib
Stocks, end of month
__
do. _
Cottonseed oil, refined:
Production
do
Consumption, factory
_
do
In oleomargarine
- do
Stocks end of month
do
Price, wholesale, summer, yellow, prime (N. Y.)
dol. per l b _ _
Flaxseed:
Production (crop estimate)
thous. of bu
Oil mills:
Consumption
do
Stocks, end of month
__
do
Imports
do
Price, wholesale, No. 1 (Minn.)
dol. per bu-_
Linseed oil:
Production
_ __ thous. o f l b
Consumption, factory
do
Stocks at factory, end of month
___do
Price, wholesale (N. Y.)
dol. perlb__
Soybeans:
Production (crop estimate)thous. of bu_
Consumption, factory.
_ do
Stocks, end of month
do
Soybean oil:
Production:
Crude
thous. o f l b
Refined
do
Consumption, factory, refined
_
do
Stocks, end of month:
Crude
_
do
Refined
_
___do
Price, wholesale, edible (N. Y.)
dol. p e r l b _ _
r
298, 594
101, 937
394, 479
299, 189
96, 559
388, 296
255, 357
74, 577
346, 257
272, 295
130, 289
297, 756
260, 795
127,332
240, 930
300, 360
129, 658
221, 073
354, 641
119.095
246, 609
393,136
147, 760
274, 271
411,375
155, 320
322, 583
286 747
145, 597
302, 854
318,211
148, 635
266,213
52, 369
43, 595
122, 910
53, 266
40, 163
122, 920
45, 750
30, 615
118, 590
52, 262
46, 388
110,950
50, 521
50, 402
94, 200
53, 751
58, 114
86, 676
58, 895
47. 615
82, 816
60, 254
63, 567
92, 536
60, 830
67, 535
99, 139
51, 119
58, 455
88, 661
51,696
55, 344
82, 568
3,649
14, 682
69, 944
17, 506
13, 990
i 48, 093
23,113
14, 401
i 49, 440
24. 486
18, 145
i 59, 821
22, 517
18, 152
175,917
22, 961
20, 467
1 68, 503
11,247
17,025
i 69, 024
10, 006
15, 301
i 72, 207
4, 519
16, 988
i 64, 635
836
14. 780
63, 177
716
13, 634
154,817
388
354
368
381
560
571
550
428
470
474
501
330
545
375
456
431
398
542
484
517
434
1,020
1758
1787
i960
i 1, 023
11,065
i 1, 071
68, 105
43, 682
8,883
34, 799
38, 327
40 639
10, 389
30, 250
28, 757
13, 194
31, 976
1
310, 208
117, 406
"•261,037
325 209
117,213
2fifi, 198
48, 086
47, 750
86, 779
54, 892
48,118
94, 507
890
11, 543
45, 921
9, 189
10, 443
i 53, 053
1
420
430
497
1736
1884
297
214
1826
47, 330
62, 848
15, 022
47, 827
41,546
46, 535
12, 406
34, 129
297
350
416
17, 627
52, 839
14, 530
38, 309
40, 406
65,112
19, 834
45, 277
321
32, 421
33, 922
9,988
23, 934
63, 350
55. 328
11.048
44, 280
33, 189
56, 214
8,976
47, 238
30 036
44 440
2, 430
42, 010
47, 188
46, 174
5, 036
41, 138
61, 070
36, 723
4, 619
32, 104
27, 134
10, 342
26, 064
21, 050
16, 295
36, 449
37, 356
14, 968
43, 286
40, 929
16,417
52, 213
45, 619
17, 740
52, 841
35, 393
27, 890
55, 996
31, 828
27, 851
38. 743
33, 187
23, 092
52, 396
29 697
40, 324
57, 897
37, 616
30, 386
41,987
33, 340
34, 241
31,621
38, 365
22, 926
36, 654
26, 247
34, 211
22, 909
26, 668
20, 727
48, 420
30, 529
53,167
30, 744
60, 334
33, 316
46, 555
26, 559
40, 50G
25, 545
42, 160
32, 099
37, 531
25, 683
48, 080
31, 844
42, 026
28, 277
49, 264
26, 499
47, 923
21, 420
39, 642
21, 673
35, 324
17, 639
53,311
28, 798
52, 888
27, 246
56, 479
28, 553
47, 343
23, 262
46, 850
23, 818
55, 812
28, 118
49, 398
24, 438
56, 197
27, 784
48, 214
27, 626
45, 747
25, 060
1101, 745
10, 239
12, 696
i 106, 153
10, 336
15
392
363
(i)
189
216
523
269
369
433
148
448
838
56
319
575
37
229
393
r 164
••244
15
118
141
251.982
207, 924
193, 620
190, 875
198, 130
199, 134
144, 994
165 276
106, 323
130, 717
r 74, 216
105, 949
49, 092
94, 892
195, 045
89, 685
182, 355
98, 408
138, 678
100, 065
144, 222
105, 049
103 897
87, 973
77, 628
60, 610
r
38, 629
30, 081
85, 825
116,937
2 26, 052
73, 621
143, 075
112, 573
2 26, 749
107, 144
160, 209
116, 590
2 33, 460
155, 036
122, 009
107, 832
30. 587
171 591
2
.205
.208
.237
600
404
472
1,123
621
974
1,202
93, 264
163 360
80, 988
136, 002
104, 675
121, 179
180, 934
153, 478
276, 465
214, 226
90, 610
65, 083
68, 051
50, 748
57, 790
47, 667
72, 730
43, 033
121, 808
63,370
98, 983
130, 694
27, 086
251, 672
80 792
114, 983
34, 039
225, 034
59, 523
118, 382
2 41, 698
167, 553
78, 244
155, 135
2 35, 496
97, 930
.170
.162
.176
.196
124, 140
179, 112
r
1, 138
220
228
276
47
208
334
0)
r
443
1 103, 572
12,813
12, 903
128
178
285
95
276
495
7,968
4,767
461
i 93, 482
11,505
10, 311
161,989
8, 962
24, 248
0)
398
i 1,062
! 1, 045
i 90, 487
11, 824
18, 728
i 44, 709
6,975
9, 390
7,756
9,724
r
1. 048
83, 938
10,211
18, 719
i 64, 536
10, 276
11, 536
6, 286
9,586
170, 014
8,997
12, 260
1
1
793
564
2
.237
126, 329
119, 877
35, 140
180 709
.262
110
92
23
204
2
864
265
196
544
(4)
54, 719
48, 528
65, 744
62, 876
18,355
231, 652
95, 400
76, 811
2 23, 497
226 525
2
(4)
(*)
(*)
54 149
63, 388
19, 644
226, 997
2
3 39 263
2,209
1,384
0
3,270
2,255
0
4,119
2,195
o
2,946
2,505
o
3,963
5,111
o
3,469
6, 177
o
3,549
9,362
o
3 64S
9 007
o
3 051
8 670
o
3 186
8 075
o
3, 376
5,579
3 739
6 109
o
6
3,484
5,565
4.05
4.03
3.75
3.55
3.26
3.45
3.87
4.55
4.84
4.89
4.68
4.33
43, 697
42, 119
539, 931
.182
63 490
44 990
551, 263
.189
82, 216
50 031
569, 973
.187
57, 809
65, 721
561, 185
.188
77 316
58 402
561 102
.186
68 708
54 657
556 570
.170
72 635
51 553
591 636
.172
74 946
49 610
609 867
.195
60 551
60 401
613 664
.224
63 724
60 317
608 807
.236
74 953
68 186
601 736
.240
67, 511
61 588
605 329
.242
70 002
60 826
620 535
.234
16, 880
34, 735
13, 913
28 478
15 637
19 315
15, 416
9 003
13 634
2 484
19 570
57 878
22 799
81 201
3 287 010
24 687
77 163
25 075
78 682
22 470
72 988
24, 737
62 798
169, 001
131 848
125, 688
141 705
132 235
120 525
159 261
109 087
10o' 548
157 026
166 442
162 308
137 695
145 546
149* 258
190 723
153 276
156 275
216 217
170 013
167 065
235 609
163 893
160 038
240 745
201 298
184 543
215 973
171 360
162 202
91, 462
74, 809
.177
88 338
77, 528
.171
104 423
73 394
.174
75 971
67 121
.185
53 358
60 116
.203
65 896
51 274
.191
81 162
51 045
.215
99 828
54 237
.250
113 499
65 175
.268
131 235
70 495
.266
3.84
r
r 53 983
21 260
42 192
240 426
201 472
165 942
r 212 077
180 217
r 141 076
209 264
163 260
157 851
130 692
95 790
.278
r 125 870
r 129 607
.282
124 800
119 641
.258
' 21 918
' Revised, i Data for crude palm, coconut, castor, and sperm oil are excluded from the pertinent items for June-August; beginning September I960, these oils have been restored on a
commercial
stocks basis.
2
Compiled by the U. S. Department of Commerce, Bureau of the Census.
3 December 1 estimate.
* No quotation.
fRevised series. Beginning in the September 1949 SURVEY, data include oleomargarine of vegetable or animal origin.
SUEVEY OF CUEEENT BUSINESS
S-26
Unless otherwise stated, statistics through
1948 and descriptive notes are shown in the
1949 Statistical Supplement to the Survey
July
1950
May
June
July
August
1951
September
October
November
December
January
February
March
A pril
May
CHEMICALS AND ALLIED PRODUCTS—Continued
FATS, OILS, ETC.— Continued
Vegetable oils, oilseeds, etc.— Continued
Oleomargarine:
Production
thous. o f l b _ .
Stocks (factory and warehouse)*
-do
Price, wholesale, vegetable, delivered (eastern
U.S.)
dol. p e r l b _ _
Shortenings and compounds:
Production
thous. of Ib.
Stocks end of month
do_
56, 583
12,004
69, 334
24, 247
i 89, 425
12,193
i 84, 129
21. 383
i 64, 829
16,811
i 74, 234
14, 807
i 93, 852
12, 645
1
89, 959 i 112,813
14, 150
19,905
i 79, 493
21,811
1
91,137 r i 71, 394
22, 987
20, 066
i 80, 344
17, 95t
.244
.244
.249
.264
.269
.264
.279
.294
.316
.324
.324
.324
.31f
144, 761
103, 734
115,440
117,648
101,037
71,189
180, 280
60, 544
156,820
71,852
142,215
85, 962
155, 333
81,121
144, 092
103, 583
160, 179
88, 956
138, 518
99, 623
112,025
123, 554
98, 840
152, 844
106, 41 f
151, 60S
103, 246
93, 434
35, 175
58, 259
9,812
108, 910
98, 634
36, 719
61,915
10, 276
99,212
89, 857
33, 008
56, 849
9,354
122, 629
111,165
42.161
69, 004
11,465
103, 323
93, 170
38, 417
54, 753
10, 153
99, 384
90. 366
41, 114
49, 252
9,018
87. 384
79, 599
37, 575
42, 024
7,785
82,117
74, 474
35, 111
39, 363
7,643
111,118
101,046
41,149
59, 898
10, 072
99, 792
90, 969
37, 361
53, 608
8,823
'•113,436 r 106.060
r 103, 693 r 96, 651
r 44, 387 Ml. 786
r 59, 306 r 54, 864
' 9, 743
9,410
110, 581
106, 11"
41,29]
58, 82(
10, 46,
1,980
6,518
650
898
31,910
25, 441
14, 581
35, 510
24, 625
9,809
22, 331
2,072
6,603
628
817
32,415
25, 170
15, 059
32, 596
25, 539
9, 500
21, 772
2,397
7,240
563
830
25, 901
26, 570
13, 505
34, 376
22. 760
9,348
21, 567
2,585
8,389
798
1,111
38, 128
27, 993
17, 994
36,142
25, 806
12,832
23, 969
2,719
7,248
638
1,150
36, 905
29, 377
16, 237
35.138
25, 718
10, 738
24, 893
2,831
8,643
711
1,329
36, 367
29, 658
16, 658
39, 036
26, 614
12,087
26, 807
2, 659
6, 696
706
1,069
34, 529
30, 110
17, 602
33, 731
24, 161
11, 683
24, 890
2,812
7,069
673
815
36, 227
25, 398
17, 178
36 772
24, 218
11,118
27, 428
3,154
7,205
730
1,334
40, 848
24, 593
19, 872
34 400
30, 180
11, 646
16, 295
PAINT SALES
Paint, varnish, lacquer, and filler, total
thous. of d o l _ _
Classified total
do _
Industrial
_
_ _ - _- do
Trade
do
Unclassified
_ _ _ _ _ _ _ _ do
SYNTHETIC PLASTICS AND RESIN
MATERIALS
Production:*
Cellulose acetate
and mixed ester plastics:
Sheets rod5? and tubes
thous. of Ib
M"olding and extrusion materials
do
Nitrocellulose sheets rods and tubes
do
Other cellulose plastics
- _.do_
Phenolic and other tar acid resins
do
Polystyrene
- - do
Urea and melamine resins
do
Alkvd resins
Rosin modifications
M^iscellaneous resins
do
- do_
do
2
2
2
2
2
2
2,589
2,986
5,802
6,215
668
807
1,252
1,056
r
32, 541
39, 852
25, 162
21,717
21, 460
17, 360
31 813 Tr 22 37 880
33, 891
28, 224
10, 882 T 2 11,996
14, 264
16, 563
1,044
36, 672
25, 498
22, 086
2
39 260
2 32, 502
10, 796
2
14, 040
3, 261
6, 707
695
ELECTRIC POWER AND GAS
ELECTRIC POWER t
Production (utility and industrial), total
mil. of kw.-hr_
Electric utilities, total
-do
By fuels
__ _
do
Bv water power
- do
Privately and municipally owned utilities
mil. of kw.-hr_.
Other producers
do
Industrial establishments, total
do
By fuels
_
_
- _
do
By water power
do
Sales to ultimate customers, total (Edison Electric
Institute)
mil. of kw.-hr_
Commercial and industrial:
Small light and power
do
Large light and power
do
Railways and railroads __
_ do_
Residential or domestic
do
Rural (distinct rural rates)
_ _ _ _ _ _ do .__
Street and highway lighting
do
Other public authorities_
__do
Interdepartmental
do
Revenue from sales to ultimate customers (Edison
Electric Institute)
thous. of dol
31, 486
26, 525
18,048
8,477
31, 608
26, 685
18, 701
7,984
31,626
26, 780
19, 273
7,507
33, 874
28, 869
21, 338
7,531
32, 650
27, 774
20, 231
7,543
34, 307
29, 151
21, 763
7,388
34. 072
29; 006
21, 345
7,661
35, 779
30, 632
21, 944
8,689
36, 726
31, 418
22, 539
8,879
33, 102
28, 219
20,012
8,207
36, 172
30, 920
21, 699
9,221
34, 431
29, 293
20, 283
9,010
35, 13
29,87
21,33
8,53
22, 739
3,786
4,962
4, 503
459
22, 952
3,734
4,923
4.484
439
22, 914
3,866
4,846
4,459
387
24, 780
4,090
5,005
4,647
358
23, 744
4,030
4,876
4,511
366
25, 189
3,962
5,157
4,781
376
25, 073
3,933
5,066
4,699
367
26, 268
4,365
5,146
4,748
398
26, 990
4,427
5,308
4,872
436
24, 156
4,063
4,883
4,469
413
26, 551
4,369
5, 252
4,843
409
25, 246
4,048
5,138
4, 683
455
25,85
4 01
5,26
4,83
42
22, 394
22, 694
22, 637
23, 777
24, 157
24, 458
24, 673
25, 640
26, 690
25, 966
26, 001
25, 940
3,919
11, 300
468
5,235
634
206
581
52
4,107
11, 547
450
5,072
694
192
583
49
4,277
11, 260
437
5,034
818
200
564
46
4,367
12, 236
456
4,991
874
219
589
46
4,434
12, 301
447
5,256
836
249
593
42
4,321
12, 611
476
5,482
631
280
613
42
4,332
12, 556
494
5,803
522
300
625
41
4,443
12, 596
557
6, 560
478
321
638
47
4,733
12, 694
574
7,189
473
319
664
44
4, 652
12, 351
531
6,974
476
282
659
42
4,565
12, 772
541
6,593
546
279
654
50
4,556
12, 868
497
6,339
724
254
656
47
407, 411
414, 734
412, 437
421, 090
430, 680
435, 286
440, 961
458, 072
474, 794
467, 200
460 900
456, 779
GASJ
Manufactured and mixed gas (quarterly):
Customers end of quarter total
thousands
Residential (incl house-heating)
do
Industrial and commercial
do
Sales to consumers total
mil. of cu ft
Residential
do
Industrial and commercial
do
Revenue from sales to consumers, total
thous of dol
Residential (incl house-heating)
do
Industrial and commercial
do
Natural gas (quarterly) :
Customers end of quarter total
thousands
Residential (incl house-heating)
do
Industrial and commercial
do
Sales to consumers total
mil. ofcu ft
Residential (incl house-heating)
do
Industrial and commercial
do
Revenue from sales to consumers, total
thous. of dol
Residential (incl house-heating)
do
Industrial and commercial
do
9,617
8,960
649
146, 059
93, 636
51, 194
9,154
8,537
609
97, 507
55, 747
41, 040
9,127
8,505
616
134, 603
87 847
45 495
146, 139
107, 005
38, 225
108, 008
77, 182
30, 238
139 521
102, 147
36, 455
13, 941
12, 783
1,143
882, 363
255, 373
601, 037
14, 490
13 339
1, 137
740, 818
108, 884
597, 808
15
13
1
988
297
659
319, 382
175, 734
139, 144
229, 031
92, 812
130, 304
372 223
206 351
159 895
076
830
231
031
143
976
r
2
Revised.
1 Compiled by the U. S. Department of Commerce, Bureau of the Census.
Beginning January 1951, the comparability of the data has been affected by the following change
in classification and coverage: Vinyl resins, sheeting and film, originally reported on a total-weight basis are now shown on a resin-content basis; alkyd resins include all other uses, previousl
reported with miscellaneous resins (all other uses for January 1951, 1,137 thous. Ib.); miscellaneous resins exclude all petroleum resins (petroleum resins for January 1951, 14,283 thous. Ib.).
*New series. Data for stocks of oleomargarine are compiled by the U. S. Department of Commerce, Bureau of the Census; figures for January-July 1949 will be shown later. The datafc
production of synthetic plastics and resin materials, compiled by the U. S. Tariff Commission beginning July 1948, are essentially comparable with the series for shipments and consumptio
(reported by the Bureau of the Census) previously shown here, except for inventory changes (which tend to balance out over a short period) and the inclusion of reports from a few additiom
companies. Data for alkyd resins and rosin modifications are not available prior to 1949.
^Revisions for January-July 1949 for electric-power production and for the first two quarters of 1949 for the gas series will be shown later.
SURVEY OF CURRENT BUSINESS
S-27
1950
Unless otherwise stated, statistics through
1948 and descriptive notes are shown in the
1949 Statistical Supplement to the Survey
June
May
July
August
1951
September
October
November
December
January
February
March
April
May
FOODSTUFFS AND TOBACCO
ALCOHOLIC BEVERAGES
Fermented malt liquors:
Production
_ thous. of bbl
^ax-paid
withdrawals
do
Stock 5 ? end of month
do
Distilled spirits:
Production
thous. of tax gal
Consumption, apparent, for beverage purposes
thous. of wine gal
Tax-paid withdrawals
thous. of tax gal
Stocks, end of month
do
Imports
_ __
_ - -thous. of proof gal
WhiskyProduction
_
thous. of tax gal
Tax-paid withdrawals
do
Stocks, end of month
_ _ do _
Imports
thous. of proof 1gal
Rectified spirits and wines, production, total d
thous. of proof gaLWhisky
do
Wines and distilling materials:
Sparkling wines:
Production
thous. of wine gal
Tax-paid withdrawals
_ . do
Stocks, end of month
do
Imports
do
Still wines:
Production
do
Tax-paid withdrawals _
do _ _
Stocks, end of month _ __
do
Imports
do
Distilling materials produced at wineries.-. do
8,361
7,616
10, 846
9,368
8, 696
10, 982
9,241
8,511
11, 196
9,040
8,621
11, 078
20, 490
6,870
6, 845
10, 648
6,391
6,913
9,692
6,166
6,019
9,451
5,893
6, 163
8,815
6,872
5,894
9,440
6,075
5, 237
9,921
7,514
6,675
10, 341
7, 476
6, 449
10, 910
8,402
7, 697
11, 107
41, 863
47, 852
38, 254
35, 444
36, 063
28, 605
35, 339
28, 620
27, 893
15, 473
11,348
737, 771
1,461
15,177
10, 128
760, 806
1,706
17, 630
11,064
780, 654
2,189
24, 564
12, 061
795, 181
1,856
20, 725
16, 986
808, 922
1,474
18, 161
13, 606
820, 073
1,316
15, 108"
10, 273
843, 250
1,387
11, 674
5, 315
865, 164
1,277
7, 001
884, 516
21, 358
21, 695
33, 042
13, 782
13, 615
8,091
7, 935
700, 420 ' 708,562
1,291
1, 1(51
18, 757
10, 537
712, 863
1,832
20, 280
16, 142
720, 296
1,692
12, 727
4, 610
637, 409
1,076
12, 521
5,228
643, 280
1,196
10, 339
6,575
645, 268
1,719
15, 072
9,869
647, 062
1,534
17, 758
6, 455
656, 999
1 322
20, 536
5,939
670, 213
1,543
22, 241
6, 557
684, 031
1,994
19, 244
6, 899
694,210
1,638
20, 207
9,772
701, 634
1,311
16,235
7,811
707, 672
1,160
19, 979
6,107
720, 712
1,247
14, 727
3, 076
731, 629
1,155
15, 912
3. 713
542, 588
8,146
6,923
9,109
7,612
10, 233
8,749
16, 230
14, 029
11,081
9,741
10, 233
9,037
11,112
10, 177
11.063
10, 153
14, 834
13, 523
12, 227
11,170
8,436
7 269
4, 836
3 834
6,019
5 239
86
78
38
98
78
1,619
40
44
53
1,605
27
116
87
1, 627
41
73
111
1,579
44
77
148
1,499
68
83
168
1,398
119
60
170
1, 267
118
85
86
1,259
49
149
66
1,327
35
68
78
1,306
39
195
53
1,438
38
790
10, 573
134, 871
263
1,300
887
7,588
127, 000
347
216
758
8,236
117, 335
255
1,509
4,250
11,367
109, 347
276
12, 813
41, 610
11, 271
143, 694
331
98, 229
59,214
12,657
194, 870
459
124, 020
15, 253
11, 768
198, 490
562
36, 337
4,818
10, 778
187, 747
534
10, 855
2 081
11,246
176,428
353
1,460
1,711
9,680
166, 912
309
1,007
2 301
10, 598
158,371
388
1,342
1 367
8, 869
150, 596
412
703
r
157, 585
136, 867
.600
166, 080
185, 167
.599
146, 760
230, 063
.603
124, 960
239, 398
.614
103, 035
234,111
.633
91, 930
208, 228
.642
75, 910
159, 873
.647
79, 000
105, 192
.664
86, 675
75, 329
.698
81, 270
52, 507
.694
93, 700
33, 378
.671
r
r
134, 125
106, 085
208, 986
186, 062
2,518
142, 960
114, 970
254, 246
229, 785
4,355
124, 370
99, 180
280, 948
256, 395
3 564
107, 395
84, 395
316, 661
287, 977
8 937
89, 560
67, 900
326, 907
292, 421
6 854
80, 035
58, 095
310, 240
276, 930
5 185
67, 030
45, 830
261, 259
233. 733
4,885
67, 925
45 265
212, 493
187 157
3 618
71, 035
49, 495
179, 577
155 117
5 479
70, 605
49, 585
160, 621
137, 397
9 063
.343
.347
.341
.349
.354
360
363
386
447
455
437
407
414
31,650
5,430
347, 000
30, 750
5,230
348, 800
31,000
4,850
302, 100
28, 350
6,200
284, 300
21, 200
5,900
232, 600
19, 575
5,325
202, 000
15, 100
4,260
159, 000
18, 350
4, 135
156, 300
18, 400
5, 435
182, 000
16,390
5,025
190, 000
21, 525
4,350
258, 600
22, 785
4,375
289, 500
7,650
222, 300
9,733
343, 988
7,368
340, 962
7,016
349, 397
9,409
388, 620
9,296
383, 161
10, 494
316, 666
6,883
159, 559
7,598
88, 859
6,753
113, 207
9 501
91, 682
8 325
148, 505
36, 850
5,850
388, 000
9 5QQ
222, 603
2,734
18, 965
465
16, 905
2,699
6,291
741
11, 741
983
18, 075
1,378
8,199
4, 327
8, 225
2,411
9,352
1,123
8,337
1,969
8,995
1 720
13, 874
2 961
22 487
9.10
5.10
9.10
5.09
9.10
5.10
9.30
5.29
9 30
5.37
9 50
5.37
9 50
5.39
9 72
5 63
10 49
6 06
10 80
6 15
10 80
6 16
10 80
6 16
10 80
6 16
11, 840
5,416
4.31
12, 538
5,749
4.29
11,870
5,078
4.39
10, 620
4 392
4.52
9,396
3 633
4.62
9,081
3 246
4.79
8,402
2 678
4.84
8,523
2 738
4.88
8,960
2 999
4.98
8,527
2 905
5.09
9,690
3 536
5.08
10, 328
r 3 937
5.05
11, 856
11, 760
113, 700
13, 200
116,750
11, 550
90, 000
11,885
60, 950
10, 400
42, 900
11.300
35, 800
9,920
30, 550
9,850
39, 480
10, 784
42, 000
12, 090
40 150
16, 330
53 000
17, 030
66 750
17, 750
94 600
10, 307
82, 583
13, 219
93, 263
13, 935
82, 722
13 630
59,017
12 503
42, 445
13 284
31, 444
11 644
23, 498
10 231
22, 030
10 784
22, 545
13 811
39, 959
14 464
26, 791
16 564
42, 580
19 190
76, 123
4,300
10, 267
6,118
17, 124
4,643
17, 704
4,711
21, 028
5 966
17, 957
6 047
20, 010
5 308
18, 994
5 334
15, 070
4 644
9,369
4 483
13, 653
6 613
26, 535
6 613
15, 881
.116
.117
.117
.118
119
121
124
127
131
133
r
13y
144
4
0K7
r
1, 614
r
DAIRY PRODUCTS
Butter, creamery:
Production (factory) t
thous. of lb__
Stocks, cold storage, end of month
do
Price, wholesale, 92-score (New York^Ldol. per l b _ _
Cheese:
Production (factory), totalt
thous. of lb_
American, whole milkj
do
Stocks, cold storage, end of month, total do
American, whole milk
do
Imports
do
Price, wholesale, American, single daisies (Chicago)
dol per Ib
Condensed and evaporated milk:
Production :J
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 Ib
Evaporated (unsweetened)
do _
Exports:
Condensed (sweetened).
do
Evaporated (unsweetened)
do
Prices, wholesale, U. S. average:
Condensed (sweetened)
dol. per case
Evaporated (unsweetened)
do
Fluid milk:
Production
mil. of lb__
Utilization in mfd. dairy products
do
Price, dealers', standard grade
dol. per 100 Ib
Dry milk:
Production :J
Dry whole milk
thous. of lb._
Nonfat dry milk solids (human food)
do
Stocks, manufacturers', end of month:
Dry whole milk
do
Nonfat dry milk solids (human food)
do
Exports:
Dry whole milk
do
Nonfat dry milk solids (human food)
do
Price wholesale, nonfat dry milk solids (human
food), U. S. average
__ _ dol. per Ib
r
104, 395
r 32, 207
.670
133, 725
41, 755
.701
89, 245 r r100 140
64 565
75 190
155 095 r 1(59 822
130 655 r 144 441
4 447
3 212
131, 590
102 380
195 187
167 393
K f\QQ
5.00
145
FRUITS AND VEGETABLES
Vpples:
Production (crop estimate)
thous. of bu
1 120, 499
r
r 6 H4
r 339
r 3 ggQ
r 254
r 5 427
Shipments, carlot
no. of carloads
I 528
554
r 1 265
4 041
Stocks, cold storage, end of month__thous. of b u _ _
1, 289
165
115
102
7,321
34, 451
40, 032
33, 621
27, 273
Citrus fruits, carlot shipments
no. of carloads .. >• 10, 568
r 9, 463
' 7, 514 ' 5, 988 »• 5, 676
«• 4, 994
' 6, 551 ' 14, 032 10, 944
^rozen fruits, stocks, cold storage, end of month
thous. of lb_. 287, 445
356, 409
414, 557
461, 956
466, 135
479, 353
497, 878
449, 989
431, 711
?rozen vegetables, stocks, cold storage, end of
month
thous. of lb__ 221, 119
235, 955 283, 334
361, 366
430, 576
454, Oil
457, 573
425, 170
375, 269
D
otatoes, white:
Production (crop estimate)
__.thous. of bu
i 439 500
-IQ rco
Shipments, carlot
no. of carloads
*-24 236 r 2 4 176 r 12 864 r n 632 r 15 024 r 15 279 r 13 513 r 13 7Q2
Price, wholesale, U. S. No. 1 (New York)
4.221
dol. per 100 lb__
3.242
3.485
2.650
2.636
2.128
2.515
3.121
3.039
r
Revised.
1 December 1 estimate.
cf Figures beginning July 1950 exclude production of wines and vermouth; for July 1949-June 1950, such production totaled 83,000 gallons
^Revisions prior to 1949 are shown on p. 24 of the August 1950 SURVEY; those for January-October 1949, on p. S-27 of the January 1951 issue.
3 883
20, 135
9,849
r Q 183 ~ ~ ~ - i ~ r - o r
12, 891
11,994
r
r 6, 931
10, 958
2, 855
12, 542
408, 361
390, 646
r
361, 867
397, 938
328, 520
294, 223
T
272, 111
267, 831
n
i fi^
3.315
oo~ooc~
Of\~i-T0r~
2.926
4.005
~-
-
4.107
SURVEY OF CURRENT BUSINESS
S-28
Unless otherwise stated, statistics through
1948 and descriptive notes are shown in the
1949 Statistical Supplement to the Survey
July 1951
1951
1950
May
June
July
August
September
October
November
December
January
February
March
April
May
FOODSTUFFS AND TOBACCO—Continued
GRAINS AND GRAIN PRODUCTS
Exports, principal grains, including flour and meal
thous. of bu
Barley:
Production (crop estimate) _ _do
Receipts, principal markets
do
Stocks, domestic, end of month:
Commercial
__
do
On farms
do
Exports, including malt _ _
_do_ _
Prices, wholesale (Minneapolis):
No. 2, malting
dol. perbu__
No 3, straight
do
Corn:
Production (crop estimate)
mil of bu
Grin dings, wet process
thous. of bu__
Receipts, principal markets _ _
do
Stocks, domestic, end of month:
Commercial
__ do
On farms
mil of bu
Exports including meal
thous of bu
Prices, wholesale:
No. 3, white (Chicago)
dol. per bu_.
No. 3, yellow (Chicago)
_ _ do
Weighted average, 5 markets, all grades. -do
27, 598
29, 755
29, 218
28, 185
29, 581
33, 944
21, 441
13, 503
i 301, 009
12, 581
9,821
34, 026
34, 541
27, 395
Rye:
Production (crop estimate)
thous of bu
Receipts, principal markets
do
Stocks, commercial, domestic, end of month .do
Price, wholesale, No. 2 (Minn.) _ dol. per bu
Receipts, principal markets
Stocks, end of month:
Canada (Canadian wheat) __
. do
United States domestic total cf
do
Commercial
do
Interior mills, elevators, and warehouses
thous of bu
On farms
Exports, total, including
Wheat only
flour
do
do
do
Prices, wholesale:
No. 1, dark northern spring (Minneapolis)
dol. per bu__
No. 2, hard winter (Kansas City) _ _ _ _ do _
No. 2, red winter (St. Louis)
do
Weighted avg., 6 markets, all grades. __ do
81, 788
6,663
8,801
9,703
6,822
30, 165
24, 692
24, 585
3,599
2,247
4,559
27, 476
88, 869
6,173
1.561
1.476
1.568
1. 512
1.687
1.617
1.742
1.673
1.738
1.628
1.625
1.445
1.517
1.365
3, 131
10, 867
42, 716
12,864
54, 945
11, 182
34, 227
13,004
33, 010
10, 893
25, 664
10, 860
21,914
70, 093
74, 058
50, 939
11, 621
71, 453
1, 353. 1
12, 979
61, 636
8,825
(2)
1.738
1.595
(2)
1.818
1.659
(2)
1.770
1.645
1.889
1.799
1.703
6,783
4,267
5,605
8,263
9,588
15, 231
13, 030
14, 971
28, 593
736
1,119
1,252
33, 429
180, 508
2,582
2,588
1.643
1.593
1.687
1.601
1.692
1.649
1.545
1.484
1.529
1. 451
1.488
1.394
10, 723
24, 065
10, 682
26, 726
11, 371
26, 697
12, 096
33, 367
11, 973
23, 264
11, 932
24, 371
11, 778
52, 010
43, 177
42, 874
1, 060. 4
6,644
39, 434
39, 768
52, 137
7,117
10, 938
40, 127
486.2
5,317
38, 779
7,393
7,176
10, 355
(2)
1.481
1. 480
(2)
1.489
1.462
(2)
1.556
1.530
(2)
1.534
1.511
(2)
1.541
1.498
1.528
1.521
1.462
1.760
1.581
1.500
8,343
7,313
9,066
17, 102
11,013
8,977
7,211
12, 510
18, 275
22, 020
1,168,742
257
20, 381
18, 226
366
432
.816
.812
.928
6,084
1
11,517
388
.912
11, 268
192,392
579
.947
1,055
333
.890
.781
59, 365
2, 160. 5
11, 151
(2)
1.686
1.557
1 1, 465
7,370
80, 597
37, 907
109, 357
73, 299
111, 988
110, 244
65, 702
73, 075
16, 204
11,100
163, 842
24, 661
58, 484
37, 295
15, 035
1.870
1.774
1.688
17, 698
907, 660
324
17, 585
447
13, 828
559, 676
1,190
.977
.995
.996
.993
.980
.931
58, 298
28, 657
50,618
34, 374
45, 169
25, 414
42, 524
37, 536
54, 961
30, 167
1
285
726
84, 380
42, 174
58, 099
83, 226
50, 908
47, 911
14, 179
14, 274
91, 714
90, 474
57, 204
64, 573
62, 221
64, 246
53, 497
56, 873
72, 536
92, 608
39, 350
142, 501
41, 154
126, 695
289, 728
145, 146
715, 391
266, 891
999, 638
225, 808
402, 280
170, 603
126, 718
167, 798
101,464
185, 318
78, 659
149, 397
58, 548
125, 950
36, 447
87, 562
19, 933
77, 132
305, 208
22, 115
.081
188, 747
82, 607
.081
90, 151
197, 345
.085
132, 419
83,407
.090
328, 120
162, 532
.085
757, 612
107, 336
.089
857, 876
81, 930
.099
776, 126
77, 914
.098
663, 977
67, 999
.099
569, 695
66, 834
.100
482, 688
64, 163
.105
419, 822
43, 343
.105
356, 857
1,121
5,977
1.443
722
5,900
1.418
r
1,484
5,786
1.483
2,986
7,174
1.382
1,576
7,694
1.388
887
7,518
1.369
do
thous. of bu_.
59, 384
8,909
5,894
25, 984
Wheat:
Spring wheat
56, 316
31, 635
7,217
25, 924
30, 929
361
Oats:
Receipts, principal markets
thous. of bu._
Stocks, domestic, end of month:
Commercial
- do
On farms
do
Exports including oatmeal
do
Price, wholesale, No. 3, white (Chicago)
dol. per bu_Rice:
Production (crop estimate)
thous of bu
California:
Receipts domestic rough
thous of Ib
Shipments from mills, milled rice
do
Stocks, rough and cleaned (cleaned basis), end
of monthj
thous. of Ib
Southern States (Ark., La., Term., Tex.):
Receipts, rough, at millsO
thous. of lb__
Shipments from mills, milled rice
do
Stocks, domestic, rough and cleaned (cleaned
basis), end of month f
thous. of Ib _
Exportsf
do
Price, wholesale, head, clean (N. O.)._dol. perlb__
41, 338
32, 625
139, 338
4,181
7,696
26, 228
16, 968
39, 857
22, 154
38, 820
243, 231
108, 447
169, 293
100, 743
423, 265
168, 497
18, 553
15, 432
126 027
55 934
67, 907
21, 490
17, 635
2.453
2.300
2.333
2.365
2.446
2.170
2.160
2.297
61, 948
45, 302
245, 370
97, 810
85, 886
219, 702
256, 411
158, 197
1,205,052
260, 104
20, 319
14, 789
15, 494
12, 446
319, 150
137, 422
483, 642
19, 112
15, 799
2.530
2.228
2.190
2.300
2.440
2.209
2.163
2.285
2.420
2.210
2.144
2.285
82, 214
48, 301
665
7,716
1.463
122,977
2,689
7,871
1.627
1 1, 026. 8
i 276. 1
i 750. 7
39, 472
33, 151
206, 867
.105
3
23 801
760
2,733
1.883
533
7,363
1.764
415
6,861
1.894
465
5,851
1.878
1,029
4,036
1.923
26, 192
21, 333
28, 407
295, 183
48, 928
214, 399
204, 220
166, 795
206, 379
188, 379
709, 304
193, 663
168, 777
227, 821
177, 355
177, 369
55, 522
52, 129
2.532
2.435
2.476
2.440
3
197, 072
212, 742
261, 313
253, 690
221, 548
999, 987
247, 318
19,114
16, 487
19, 557
16, 367
282, 191
129, 357
335, 670
24. 140
19, 456
29, 958
24,608
39, 191
34, 324
194, 150
101, 074
217, 261
38, 529
33,023
2.366
2.179
2.127
2.243
2.385
2.224
2.204
2.268
2.460
2.346
2.329
2.355
2.493
2.402
2.455
2.414
2.602
2.476
2.529
2.507
2.520
2.401
2.444
2.408
705 2
51, 853
2.537
2.384
2.305
2.421
Wheat flour:
Production:!
21,079
18,498
19, 658
18,811
17, 675
18, 360
22, 244
18, 869
19, 737
18, 762
18, 970
Flour
thous. of sacks (1001b.)__
17, 258
18, 556
76.8
79.6
68.9
85.8
88.4
74.5
71.3
82.3
81.6
78.7
72. 5
82.3
Operations, percent of capacity§ _
74.6
374, 874
389, 965
377, 024
441, 830
374, 335
353, 333 382, 753 422, 168
372, 315 385, 312
Offal _ ._ __
short tons__ 369, 090
337, 876
367, 000
42,905
49, 099
41, 065
45, 546
43, 719
42, 690
45, 820
51,519
43, 807
44, 175
39 919
43, 558
Grin dings of wheat f
thous. of bu
43 007
Stocks held by mills, end of month
4,931
4,635
5,011
4,803
thous. of sacks (100 Ib.)
1,369
1,422
1,655
1,308
1, 339
2,011
2,363
1,867
1,127
Exports
._
_
do .
2,089
2,373
3,173
Prices, wholesale:
Standard patents (Minneapolis)
5.912
5.738
5.975
5.730
5.688
5.925
5.930
5.690
dol. per sack (1001b.)__
6.125
6.055
6.306
6.145
6.044
5.162
5.284
5.244
5.165
5.002
5.150
5.158
5.480
5.569
Winter, straights (Kansas City)
do
5.640
5.819
5.550
5.575
2
3
«• Revised.
* December 1 estimate.
No quotation.
June 1 estimate.
fRevised series. Data for rough rice, included in rice exports and stocks, have been revised using a new conversion factor supplied by the U. S. Department of Agriculture; unpublished
revisions for exports (1933-July 1948) and those for stocks (prior to August 1949) are available upon request. Revised data for January 1947-July 1948 for wheat-flour production and grindings will be published later.
©Prior to the October 1950 SURVEY, data are shown in thousands of barrels of 162 pounds.
cfThe total includes wheat owned by the Commodity Credit Corporation and stored off farms in its own steel and wooden bins; such data are not included in the breakdown of stocks.
§ Based on a 5-day week beginning with the August 1950 SURVEY (prior thereto, on a 6-day week; data for January-June 1949 are shown on p. S-28 of the September 1950 SURVEY.
SURVEY OF CUKKENT BUSINESS
July 1951
Unless otherwise stated, statistics through
1948 and descriptive notes are shown in the
1949 Statistical Supplement to the Survey
S-29
1950
May
June
July
August
1951
Septem-
ber
October
Novem-
ber
Decem-
ber
January
Febru-
ary
March
April
May
FOODSTUFFS AND TOBACCO—Continued
LIVESTOCK
Cattle and calves:
Slaughter (Federally inspected):
Calves
-thous of animals. _
Cattle
do
Receipts principal markets
do
Shipments, feeder, to 8 corn-belt States
do
Prices, wholesale:
Beef steers (Chicago)
dol. per 100 lb_Steers, stocker and feeder (Kansas City) -do
Calves vealers (Chicago)
do. -Hogs:
Slaughter (Federally inspected)
thous. of animals. _
Receipts principal markets
do
Prices:
Wholesale, average, all grades (Chicago)
dol. per 100 lb-_
Hog-corn ratio
bu. of corn equal in value to 100 Ib. of live hog_.
Sheep and lambs:
Slaughter (Federally inspected)
thous. of animals-Receipts principal markets
-_
do
Shipments, feeder, to 8 corn-belt States
-do
Prices, wholesale:
Lambs, average (Chicago) __
dol. per 100 lb-_
Lambs, feeder, good and choice (Omaha) _do
496
1,075
1,871
130
1,066
1,715
160
1,070
1,759
152
484
1,184
2,046
239
1,196
2,311
447
515
1,169
2,795
763
1,151
2,210
485
1,110
1,694
251
1,160
1,827
183
1,364
121
1,442
131
1,552
151
1,555
124
29.02
27.19
30.35
30.13
27.44
29.00
30.67
27.48
29.60
30.09
26.90
32.00
30.57
26.90
32.88
30.49
26.92
31.70
31.41
28.46
32.38
33.03
29.45
32.38
34.10
31.88
35.90
34.88
34.42
38.38
35.62
35.12
36.50
35.95
35.64
38.90
35.71
34.29
37.25
4,338
2,836
4,154
2,592
3,314
2,234
3,626
2,345
4,137
2,431
5,102
2,955
6,144
3,678
6,777
3,991
6,584
4,070
4,159
2,713
5,117
3,061
4,989
3,060
4,952
3,080
485
443
488
505
445
374
887
433
447
965
406
894
414
986
18.41
18.18
20.65
21.55
21.10
19.41
18.04
18.52
20.37
22.26
21. 62
21.01
20.77
'13.7
13.1
14.9
15.0
14.7
14.0
13.0
12.2
13.0
13.8
13.2
12.7
12.4
941
1,455
157
1,019
1,207
166
960
1,149
153
1,076
1,466
355
1,063
2,001
576
1,081
1,790
591
969
1,185
238
918
1,048
252
1,058
1,139
110
740
674
119
738
716
93
657
807
157
657
926
258
27.12
0)
27.75
0)
27.25
0)
27.12
27.42
27.62
28.50
28.25
28.90
29.50
29.22
31.38
30.77
34.75
33.62
38.25
0)
40.50
0)
39.25
«
35.50
0)
1,488
802
43
1,501
769
50
1,366
649
45
1,449
542
42
1,478
469
31
1,621
457
27
1,809
603
36
1,948
840
56
1,975
1,049
63
1,334
1,007
45
1,537
984
66
1,479
r
967
77
1,537
902
638, 652
78, 844
1, 558
628,277
67, 291
1,990
626, 299
66, 051
1,578
696, 567
79, 919
1,831
704, 754
89, 485
1,829
686, 636
103, 894
1,561
669, 181
124, 307
783
650, 935
160, 544
791
686, 992
172, 291
1,172
527, 293
157, 531
924
537, 799
576, 081
139, 378 ' 117,821
467
495
595, 451
105, 744
.474
.488
498
.486
.491
.486
.493
.531
2.533
43, 184
7,099
.43, 597
6,681
41, 543
6,079
47, 225
5,998
46, 674
6,486
47,326
7,994
43, 293
9,416
41, 964
10, 479
806, 047
829, 338
697, 727
705, 016
592, 792
492, 194
4,812
605, 008
469, 361
3,851
514, 916
394, 402
4,481
519, 370
303, 588
3,572
.528
.485
.548
.480
.611
.579
MEATS
Total meats (including lard):
Production (inspected slaughter)
mil. of lb-_
Stocks, cold storage, end of month
do
Exports
-- do
Beef and veal:
Production (inspected slaughter)
thous. of lb._
Stocks, cold storage, end of month
do
Exports
- - do
Price, wholesale, beef, fresh, steer carcasses, good
(600-700 Ibs.) (New York)__
dol. per lb-_
^amb and mutton:
Production (inspected slaughter).. --thous. of Ib-Stocks, cold storage, end of month
do
Pork, including lard, production (inspected
slaughter).
thous. of lb-.
Pork, excluding lard:
Production (inspected slaughter)
do
Stocks cold storage end of month
do
Exports
do Prices, wholesale:
Hams smoked (Chicago)
- --dol perlb-Fresh 'loins, 8-10 Ib. average (New York)_do
Miscellaneous meats and meat products, stocks,
cold storage, end of month:
Edible offal
thous. of Ib
Canned meats and sausage and sausage-room
products
thous. of Ib
Lard:
Production (inspected slaughter) __do
Stocks, cold storage, end of month
do
Exports
do
Price, wholesale, refined (Chicago) _-_dol. per lb._
2
2
.561
2.576
50, 187
10, 072
36, 188
9,474
36, 529
7,727
726, 906
886, 656 1, 096, 444 1, 255, 175 1, 237, 582
770, 708
924, 237
908, 712
910, 332
547, 272
240, 544
3,284
665, 625
219, 758
3,425
821, 067
326, 300
5,504
923, 638
499, 408
10, 403
896, 297
668, 007
9, 591
570, 361
641, 565
7,755
684, 025
648, 384
5,486
672, 100
' 654, 497
3,710
665, 162
611, 980
.586
.587
.551
.557
.482
.467
.498
.408
.536
.414
.571
.430
.579
.489
.573
.461
.553
.463
.559
.474
49, 670
2.578
r 32, 603
' 5, 435
.583
31, 456
5,238
46, 631
43, 875
41, 288
39, 744
38, 157
38, 932
47, 876
58, 903
63, 808
56, 674
53, 081
r 51, 146
r 49, 100
45, 952
34, 893
37, 014
35, 608
34, 162
37, 199
40, 374
45, 708
52, 530
57, 376
r 63, 254
61, 272
155, 971
128, 467
31, 629
.147
163, 743
136, 258
38, 855
.142
133, 375
106, 613
33, 456
.174
135, 697
75, 496
33, 126
.190
131, 253
58, 241
21, 653
.181
161, 749
52, 128
17, 871
.165
200, 922
57, 794
26, 014
.178
242, 183
69, 857
38, 727
.197
249, 441
89, 321
47, 486
.215
146, 508
89, 433
32, 277
.218
175, 502
78, 352
55, 519
.213
173, 137
' 75, 171
66, 995
.203
179, 686
68, 474
36, 928
136, 548
.211
36, 707
122, 328
.208
41, 632
103, 367
.229
39, 168
105, 179
.262
53,859
140, 352
.239
72,338
217, 999
.220
87, 741
269, 640
.232
82, 807
281, 972
.241
38,436
284, 623
.272
27, 972
242, 023
.301
34, 806
192, 913
.324
35, 273
«• 147, 203
.334
43, 097
124, 024
.314
6,202
19,078
5,224
17, 146
4,687
11, 098
4,274
5,199
3,947
3,739
4,074
1,984
3,977
1,366
4,351
637
5,021
1,681
5,203
1,843
6,340
2,159
6,318
2,027
6,156
3,235
3,412
179, 732
3,667
188, 476
3,163
174, 761
2,568
155, 369
1,558
133, 002
75, 582
47, 310
309
104, 378
31, 157
32, 712
62, 298
••973
r 109, 253
2,094
160, 743
.317
.342
.398
.412
.503
.560
.577
.577
.425
.449
.468
.475
.478
44, 604
.198
POULTRY AND EGGS
Poultry:
Receipts 5 markets
__
_ -thous. of Ib
Stocks, cold storage, end of month
do
Price, wholesale, live fowls (Chicago) -dol. per lb__
Eggs:
Production, farm
millions..
Dried egg production
thous. of Ib
Stocks, cold storage, end of month:
Shell
thous. of cases
Frozen
thous. of Ib
Price, wholesale, extras, large (Chicago) t
dol. per doz._
502
61
34
75
159
MISCELLANEOUS FOOD PRODUCTS
68, 029
61, 906
61, 844
75, 588
71, 989
37, 542
33, 788
53, 723
40,368
56, 278
Candy, sales by manufacturers
thous. of dol_
Cocoa:
32, 204
12, 830
14, 596
13, 494
29, 648
26, 482
32, 893
35, 712
26, 475
19, 849
Imports
long tons
.345
.372
.363
.420
.370
.356
.286
.405
.308
.376
Price, wholesale, Accra (New York)__dol. per l b _ _
Coffee:
1,350
1,251
1,721
1,362
1,684
1,517
1,687
855
1,687
1,198
Clearances from Brazil, total
thous. of bags__
977
713
974
999
1,033
1,170
1,095
506
803
1,304
To United States
do
741
715
609
750
797
719
609
768
728
830
Visible supply, United States
do
1,355
1,381
976
1,804
1,729
2,224
1,987
2,128
2,099
Imports
do
1,050
Price, wholesale, s'antos, No. 4 (New York)
.540
.530
.519
.561
.538
.551
.555
.462
.478
.553
dol. perlb..
Fish:
52 982
56, 471
43, 530
29, 074
65, 671
38 692
69, 303
58 100
28 665
70, 140
Landings fresh fish 5 ports
thous of Ib
165, 394
158, 473
153, 625
166, 105
130. 880
116, 897
97, 773
157, 722
106, 834
137, 307
Stocks, cold storage, end of rnonth_
do
r
l
2
Revised.
No quotation.
Grade names approximately one level higher beginning January 1951; designated as "choice".
fRevised series. U. S. Department of Agriculture data replace the series for U. S. standards published prior to the October 1949 issue of the SURVEY. Data
ber 1948 are shown on p. 24 of the June 1950 SURVEY.
54, 027
46, 463
48, 483
.384
25, 526
.384
.382
1, 447
934
966
655
1,281
847
952
2,344
730
1,456
707
.548
.545
.544
43, 321
96, 367
57, 916
' 88, 803
105, 944
for September 1944 to Decem-
SURVEY OF CURRENT BUSINESS
Unless otherwise stated, statistics through
1948 and descriptive notes are shown in the
1949 Statistical Supplement to the Survey
July 1051
1951
1950
May
June
July
August
September
October
November
December
January
February
March
April
May
FOODSTUFFS AND TOBACCO—Continued
MISCELLANEOUS FOOD PRODUCTS—Con.
Sugar:
Cuban stocks, raw, end of month
r
1,825
2,721
1,186
641
2,176
3,246
3, 761
thous. of Spanish tons._
United States:
Deliveries and supply (raw basis) :
Production and receipts:
129, 607
594, 565
866, 935
26,003
90, 775
45, 324
28, 821
Production
short tons
628, 737
450, 538
320, 519
731, 339
587, 920
593, 854
550, 711
Entries from off-shore
do
237, 608
224, 624
149, 352
131,587
231, 972
241, 671
210, 870
Hawaii and Puerto Rico
do
Deliveries, total
_ _ d o _ _ ' 740, 134 ' 864, 963 ••1,191,606 'r 949, 970 r 662, 336 r 515, 189 ' 523, 250
r 653, 505 r 504, 709 ' 510, 224
945,
923
>• 738, 218 r 861, 976 ••1,189,474
For domestic consumption
do
r
' 8, 831
f 2, 132
4, 047
10, 480
r 13, 026
2,987
'1,916
For export
- _ do_ _ _
Stocks, raw and refined, end of month
605
1. 152
1,489
635
1,178
4S7
thous. of short tons..
1,768
2,006
5,012
7,925
1,782
83, 235
56, 021
1,897
Exports, refined sugar
short tons
Imports:
353, 195
449, 594
299, 554
306, 359
163, 462
304, 871
273, 076
Raw sugar, total
do
323, 203
275, 485
236, 455
144, 820
216, 334
390, 383
235, 773
From Cuba "
_ _
. . do__
25, 087
52, 413
25, 876
11, 103
61, 963
67, 280
53, 401
From Philippine Islands d*
do
25, 736
52, 784
12, 109
396
37, 310
27, 029
59, 627
Refined sugar, total. _ _
....
do
21, 132
11, 895
27, 487
52, 267
286
54, 244
22, 998
From Cuba
do
Price (New York):
.062
.062
.062
.062
.060
.057
.058
Raw, wholesale
dol. perlb..
Refined:
.489
.491
.482
.480
.454
.452
.454
Retail
_.
_ - dol. perSlb
.081
.080
.081
.078
.081
.076
.076
Wholesale
dol. perlb
8,752
8,662
10, 874
12, 733
9,745
8,787
10, 131
Tea imports
thous of Ib
TOBACCO
Leaf:
Production (crop estimate)
mil. of Ib
Stocks, dealers' and manufacturers', end of quarter total
mil. of Ib
Domestic:
Cigar leaf
do
Air-cured, fire-cured, flue-cured, and miscellaneous domestic
mil. of Ib
Foreign grown:
Cigar leaf
do
Cigarette tobacco
do
Exports, including scrap and stems
thous. of lb._
Imports including scrap and stems
do
Manufactured products:
Production, manufactured tobacco, total___do
Chewing, plug, and twist
_ do
Smoking
_
do_ __
Snuff
do. _
Consumption (withdrawals) :
Cigarettes (small) :
Tax-free
millions _
Tax-paid
do
Cigars (large), tax-paid
_ __ thousands _
Manufactured tobacco and snuff, tax-paid
thous. of lb__
Exports, cigarettes
millions
Price, wholesale (composite), cigarettes, f. o. b.,
destination
dol. per thous
246
3,538
506
1,538
2,488
111,686
235, 737
21, 153
653, 208
646, 583
6,625
66, 422
553, 832
104, 596
556, 093
546, 803
9,290
40, 570
564, 059
164, 129
533, 772
524, 495
9,277
7,160
1,591
1,344
1,612
1,978
1,722
3,933
1,818
16, 670
134, 063
123, 431
8,401
400
247, 342
234. 282
13, 029
21,011
20, 910
368, 900
285, 682
83, 189
21, 050
20, 600
344, 935
266, 755
78, 165
39, 364
39, 364
344. 583
242, 238
102, 344
39, 665
39, 465
.063
.061
.060
.059
.058
.063
.480
.081
5,992
.487
.081
7,536
.490
.081
7,065
.488
.081
9,627
.501
.081
11, 756
.480
.082
531, 464
203, 654
84, 803
•• 688, 617
' 681, 353
f 7, 264
r 1, 836
3, 838
34, 753
18, 463
567, 747
563, 138
260, Oil
171, 703
532, 257 1, 104, 322
520, 335 1, 094, 004
11,922
10,318
1,285
i 2, 056
3,509
3,672
3,989
384
353
331
398
2,960
3,160
3, 492
3,355
3,942
36, 723
8,121
18
148
22, 533
7,571
24, 525
5,721
46, 762
10, 407
18
142
72, 980
8,078
68, 037
7,996
52, 679
6,765
16
150
44, 441
6,352
31, 550
8,543
20, 215
7,954
16
172
29, 448
8,020
32, 804
7.597
19, 159
6,568
9,189
3,402
20, 980
7,881
9,333
3,766
16, 578
6,839
6,911
2,828
23,069
8,870
10, 267
3,932
21, 431
7,627
10, 601
3,203
23,417
7,877
11,918
3,622
19,063
6,884
8,894
3,285
14, 526
5,902
5, 62C
2,998
19, 810
7,591
8, 510
3,708
18, 150
7,069
7,789
3,293
19, 677
7,328
8,784
3,565
18, 706
6,674
8,732
3,299
20, 145
7,541
9,103
3,501
2,395
32, 674
424, 870
2,594
32, 815
471, 152
2,820
27, 374
400, 566
4,009
39, 126
587, 406
3,048
30, 846
503, 738
3,223
29. 738
553, 776
2,837
29, 825
544, 792
2,619
25, 000
374, 800
2,344
33, 474
458, 877
3,003
28, 857
435, 074
2,600
30, 160
455, 351
3,159
29, 524
444, 006
32, 686
478, 693
18, 998
1,017
20, 095
1,422
16,204
1,484
23, 531
1,554
20, 851
1,181
22, 322
1,043
18, 591
1,061
13, 498
1,053
20, 360
1,235
17, 765
1,153
18, 423
1,564
18, 451
1,381
19, 272
6.862
6.862
6.862
7.056
7.056
7.056
7.056
7.056
7.056
7.056
7.056
7.056
7.056
LEATHER AND PRODUCTS
HIDES AND SKINS
Imports total hides and skins
thous. of Ib
Calf and kip skins _. .
thous. of pieces
Cattle hides
do
Goatskins
do
Sheep and lamb skins
do
Prices, wholesale (Chicago):
Calfskins, packers', under 15 Ibs
dol. per lb_.
Hides, steer, packers', heavy, native
do
20, 781
177
160
4,269
2,348
28, 588
190
245
3,998
5,333
30, 811
348
258
3,479
3,846
36, 447
346
532
3,411
3,276
29, 574
411
386
2,816
1,389
33,641
357
373
3,934
3,169
27,963
382
294
3,463
2,359
19, 523
186
272
3 000
1,640
24 817
416
564
3 477
1,471
17 555
312
156
2 743
1,110
20 247
218
222
2 976
1,533
18 237
203
175
3 230
1,594
.450
.220
.484
.245
.485
.278
.560
.309
.575
.331
.575
.322
.605
.346
.662
.358
.680
.400
.625
(2)
.672
(2)
.720
(2)
584
1,697
2,677
1,989
1,052
2,301
3,260
3,373
930
2,084
2,869
2,868
962
2,193
3,205
2,856
993
2,249
3 319
2,546
860
2,046
3 019
2 333
870
2 298
3 502
2 831
921
2 204
3 196
2' 705
r 904
2 220
r 3 435
2 492
863
1 900
3 084
1 968
43
10
2,271
22
32
2,944
30
43
2,417
38
32
2,283
14
24
2,440
53
95
3,284
5
9
2,848
132
21
2,051
17
17
2,776
12
78
2,087
LEATHER
Production :
Calf and kip _
thous. of skins
829
923
Cattle hide
thous. of hides
1,948
2,071
Goat and kid
thous. of skins
3,198
3,318
Sheep and lamb
_
do
2, 653
2,720
Exports:
Sole leather:
Bends, backs, and sides
thous. of lb_.
13
79
Offal, including beltinff offal
do
19
39
Upper leather..
._
thous. of sq. ft_.
2,471
2,726
Prices, wholesale:
Sole, bends, steer, f. o. b. tannery
dol. per l b _ _
.539
.539
Chrome calf, black, B grade, composite
1.034
dol. per sq. ft..
1.037
l
«• Revised.
December 1 estimate.
* No quotation.
cfSee corresponding note on p. S-30 of the October 1949 SURVEY.
r
.790
00
.571
.598
.625
.657
.703
.782
.864
.911
.926
.911
.911
1.080
1.134
1.154
1.166
1.174
1.204
1.229
1.239
1.229
1.235
1.235
SUEVEY OF CUKEENT BUSINESS
July 1951
Unless otherwise stated, statistics through
1948 and descriptive notes are shown in the
1949 Statistical Supplement to the Survey
S-31
1951
1950
June
May
July
August
September
October
November
December
January
February
March
April
38, 732
May
LEATHER AND PRODUCTS—Continued
LEATHER MANUFACTURES
Shoes and slippers :§
Production, total
_ _
thous. of pairs _Shoes, sandals, and play shoes, except athletic,
total
_
_thous. of pairs. _
By types of uppers:,?
All leather
_ .
do
Part leather and nonleather
do _
By kinds:
Men's
__
_ _ do
Youths' and boys'
do
Women's
do _
Misses' and children's. __
do
Infants' and babies'
do
Slippers for housewear
_
do _
Athletic
do
Other footwear
do
Exports
. _ __ __
__do - _
Prices, wholesale, factory, Goodyear welt, leather
sole:
Men's black calf oxford, plain toe__dol. per palr__
Men's black calf oxford, tip toe
do
Women's black kid blucher oxford
do
38, 485
39, 070
35, 465
48, 770
43, 928
44, 083
38, 236
35, 894
44, 885
42, 380
r
34, 215
34, 221
30, 954
41, 824
37, 355
36, 720
32, 285
32, 588
41, 451
38, 862
' 42, 009
34, 715
30, 563
3,493
31, 192
3,127
28, 748
2,141
38, 671
3,011
34, 483
2,706
33, 942
2,761
29, 971
2,313
30, 239
2,401
37, 272
3,106
35, 357
3,439
37, 785
4,154
30, 638
4 077
8,287
1,281
17, 105
4,538
3,004
3,708
319
243
257
8,554
1,418
16, 756
4,632
2,861
4,242
319
288
233
6,897
1,334
16, 595
3,959
2,169
4,026
263
222
U93
9,519
1,777
22, 300
5,267
2,961
6,199
355
392
1256
9,155
1,689
18, 810
4,807
2,894
5,783
363
427
1275
9,278
1,607
17, 677
4,941
3,217
6,630
339
394
1333
8,623
1,317
14, 784
4,601
2, 960
5,362
316
273
1280
8,175
1,193
15, 309
4,874
3, 037
2,858
273
175
1196
10, 023
1,250
20, 689
5,937
3.552
2,913
277
244
1244
9,337
1 155
19, 634
5,487
3 249
3,017
278
223
1279
f 10, 598
1,235
r
21, 176
5,553
3,447
3,552
339
276
1401
9,304
1 025
17,316
4,207
2,863
3,478
299
240
1338
9.555
6.750
5.150
9.555
6.750
5.150
9.678
6.750
5.150
10. 045
7.150
5.150
10. 131
7.225
5.150
10. 388
7.350
5.150
10. 388
7.750
(2)
10. 682
7.975
5.150
11.368
8.560
5.150
11. 760
8.800
6. 250
11. 760
8.800
3 6. 250
11. 760
8.800
s 6. 250
' 54, 685
204, 528
68, 282
179, 627
75, 971
230, 252
64, 934
232, 274
3
46, 176
11. 760
8.800
3 6. 250
LUMBER AND MANUFACTURES
LUMBER—ALL TYPES
Exports, total sawmill products^
M bd ft
Imports, total sawmill products _ _ _ _ _ _ _ d o
National Lumber Manufacturers Association:
Production, total©
mil. bd. ft__
Hardwoods
do _
Softwoods©.. _ _ _
__do
Shipments, total©
do
Hardwoods- _
do___
SoftwoodsOdo
Stocks, gross (mill and concentration yards), end
of month, total©
mil. bd. ft
Hardwoods
_ _ _ _ _
- - - - - - - d o __
Softwoods©
do
SOFTWOODS
Douglas fir:
Orders, new©
_ do ___
Orders, unfilled, end of month©
do
Production©
do_ _
Shipments©
__
do _
Stocks, gross, mill, end of month©
do
Exports, total sawmill products
M bd. ft_Sawed timber
do
Boards, planks, scantlings, etc
do
Prices, wholesale:
Dimension, No. 1 common, 1" x 4" x 16'
dol. per M bd. ftFlooring, B and better, F. G., 1" x 4", R. L.
dol. per M bd. ft._
Southern pine:
Orders, new
mil. bd. it-Orders, unfilled, end of month-, _ _
do _
Production
do
Shipments
_ __
do
Stocks, gross (mill and concentration yards), end
of month
mil. bd. ft _
Exports, total sawmill products
M bd ft
Sawed timber
_
do . _
Boards, planks, scantlings, etc
do
Prices, wholesale, composite:
Boards, No. 2 common, V x 6" or 8" x 12'
dol. per M bd. ft..
Flooring, B and better, F. G., I" x 4" x 12-14'
dol. per M bd. ftWestern pine:
Orders new
mil bd ft
Orders, unfilled, end of month
do
Production^
do
Shipments^.
__
_ do
Stocks, gross, mill, end of month
do
Price, wholesale, Ponderosa, boards, No. 3 common, I" x 8"
dol. per M bd. ft_-
38, 178
275, 384
50, 589
357, 413
44, 852
338, 658
37, 772
339, 051
40, 658
374, 698
39, 397
394, 922
52, 991
259, 024
66, 445
240, 937
3,576
752
2,824
3,683
776
2,907
3,579
754
2,825
3,600
703
2,897
3,338
761
2,577
3,265
703
2,562
3,950
829
3,121
3,758
780
2,978
3, 717
848
2,869
3,637
778
2,859
3,687
829
2,858
3, 553
791
2,762
3,356
776
2,580
3,285
743
2,542
3,009
705
2,304
2,878
651
2,227
3,005
713
2,292
3,199
705
2,494
2,763
634
2,129
2,884
688
2,196
3,288
776
2,512
3,448
788
2,661
3,469
760
2,709
3,454
786
2,668
3,793
806
2,987
3,474
692
2,782
6,117
1,941
4,176
6,096
1,992
4,104
6,170
2,050
4,120
6,361
2,099
4,262
6,441
2,168
4,273
6,555
2,203
4,352
6,645
2,237
4,408
6,763
2,291
4,472
6,552
2,299
4,253
6,431
2,244
4,187
6,285
2,233
4, 052
6,300
2,207
4,093
6,584
2,321
4,263
917
878
994
1,028
632
9,331
2,125
7,206
905
845
886
938
579
20, 731
4,682
16, 049
889
976
794
757
616
20, 200
6,684
13, 516
989
1,044
1,083
921
778
17, 461
5,324
12, 137
848
896
1,009
996
790
17, 087
6,796
10, 291
832
754
1,007
974
806
19, 555
6,661
12, 894
940
734
909
960
766
23, 083
9,043
14, 040
969
733
860
840
773
33, 603
13, 769
19, 834
1,085
1,006
913
942
732
25, 280
6,933
18, 347
734
942
817
798
752
36, 804
6,977
29, 827
1,008
925
904
1,025
631
36, 536
11,421
25, 115
963
890
978
998
611
36, 743
11, 784
24, 959
966
889
1,045
1,012
607
72. 324
* 75. 430
6 82. 032
683.377
683.902
83. 943
83.937
6 131. 635 6131.720
6 132. 700
132. 700
132. 700
« 82. 389
87. 050
88. 953
86. 940
79. 026
78. 090
109. 368 * 111. 770 « 119. 539
126. 063
128. 922
129. 933
130. 458
132. 397
r
982
488
798
879
840
469
797
859
914
576
757
807
844
488
831
932
760
414
790
834
751
391
815
774
624
320
778
695
633
361
709
592
905
486
732
780
651
452
652
685
785
449
769
788
678
392
762
735
689
331
816
750
1,533
8,866
1,926
6,940
1,471
11, 999
2,866
9,133
1,421
10, 448
2,683
7,765
1,320
8,324
2,445
5,879
1,276
5,501
1,544
3,957
1,317
6,976
2,270
4,706
1,400
10, 607
3,051
7,556
1,517
10, 571
2,527
8,044
1,469
9,328
2,108
7,220
1,436
8,224
1,813
6,411
1,417
12, 061
3,405
8,656
1,444
9,087
1,573
7,514
1,510
69. 342
72. 182
74. 568
81. 773
87. 225
82. 954
79. 027
78. 822
79. 893
80. 173
80.533
80. 037
79. 182
141. 892
142. 657
144. 776
148. 405
154. 295
153. 204
153. 204
152. 515
152. 286
150. 448
150.920
149. 836
149. 210
721
719
729
697
1,293
828
758
837
789
1,341
803
778
766
733
1,374
851
823
879
806
1,447
766
804
771
734
1,484
747
786
735
721
1,498
617
765
616
606
1,515
619
770
500
564
1,451
583
749
388
502
1,337
456
725
406
445
1,298
565
709
548
541
1,305
683
731
659
630
1,334
740
742
792
701
1,427
66.22
68.53
70.84
74.69
78.68
81.38
82.52
84.47
83.73
84.51
85.35
87.07
86.45
228, 184
224, 383
57, 861
223,051
230, 444
50, 836
150, 764
146, 607
55, 129
244,051
237, 558
60, 695
229,340
233, 608
56, 721
250, 782
249, 789
58, 498
243, 761
243, 149
57, 703
233, 634
243, 319
47, 747
265,090
252, 975
59,039
255, 408 »• 279, 415
247, 892 'r283, 104
66, 156
60, 610
263,081
262, 919
59, 307
SOFTWOOD PLYWOOD
Production
-thous. of sq. ft., 2&" equivalent- _
Shipments _ _ _
do
Stocks end of month
do
HARDWOOD FLOORING
Maple, beech, and birch:
5,400
5,475
5,950
5,425
7,700
5,200
4,700
8,550
7,525
6,225
11,650
Orders, new
M bd.ft__
5,075
3,775
19, 675
12, 475
12, 675
15, 625
19, 575
19,100
19, 600
18, 900
20, 400
20,550
20, 000
21, 025
19, 025
Orders, unfilled, end of month
do
5,425
5,375
4,500
5,825
5,225
5,800
5,650
5,700
5,900
5,700
5,400
5,750
Production
do
5,950
5,875
4,850
6,550
5,325
Shipments
do
5,425
5,500
5,650
7,500
6,100
6,250
5,125
5,750
5,300
4,550
4,875
5,325
3,775
3,425
Stocks, mill, end of month
do
4,075
3,570
7,000
8,150
4,075
4,575
4,250
5,700
r Revised. 1 Excludes "special category" items. 2 N o q u otation. * Substitut ed series. Data are f or nurses' (>xford, rub ber toplift; comparab Le figure foif January : 951 is $5.92 0. < Estimated; based on index computed by the Bureau of Labor Statistics. « Data for July-December 1950 represent a composite of quotations from a larger number of companies. 6 Beginning
January 1951, the substituted price is based on quotations from a smaller number of companies.
§Data beginning 1949 have been revised to include reports from additional companies (accounting for about 4 percent of total production in 1949) and, therefore, are not comparable with
earlier figures; revisions for January-May 1949 will be shown later.
cf The figures include a comparatively small number of "other footwear" which is not shown separately from shoes, sandals, etc., in the distribution by types of uppers; there are further
small differences between the sum of the figures and the totals for shoes, sandals, and play shoes, because the latter, and also the distribution by kinds, include small revisions not available
by types of uppers. Data through 1949, shown prior to the August 1950 SURVEY, covered fewer reporting companies (see note "§" above).
JSee note at bottom of p. S-38 of the October 1949 SURVEY regarding revisions for exports of sawmill products for 1948 and Western pine for January 1947-March 1948. ©Minor monthly
revisions beginning 1929 for Douglas fir (formerly designated as West Coast woods) and for total lumber production and shipments (beginning 1934) and stocks (1936,1938) are available upon
request. Revisions for January 1948-July 1949 for total lumber and softwoods are shown on p. S-30 of the October 1950 SURVEY.
oVl/VI* Q + O ' f i c
SURVEY OF CURRENT BUSINESS
S-32
Unless otherwise stated, statistics through
1948 and descriptive notes are shown in the
1949 Statistical Supplement to the Survey
July 1951
1951
1950
June
May
July
August
September
October
November
December
January
February
March
April
May
LUMBER AND MANUFACTURES—Continued
HARDWOOD FLOORING —Continued
Oak'cf
Orders, new
Orders, unfilled, end of month
Production
Shipments
-- _- - Stocks mill end of month _
_
M bd. ft-do
do
do
do
92, 625
106, 689
86, 791
88, 051
28, 134
84, 121
95, 723
91, 649
95, 087
24, 696
98,438
108, 142
83, 300
86, 019
21, 977
99, 968
104, 163
99, 237
103, 947
17, 267
82, 785
96, 413
91, 059
90,535
17, 791
71,035
83,098
93, 879
93, 131
18, 539
62, 778
68, 884
93, 040
86, 031
25, 548
68,904
67, 553
68, 155
81, 885
73, 944
33, 489
113, 234
91, 658
90, 435
89, 731
34, 199
83, 274
93, 512
79, 419
78, 129
35, 489
81, 813
92, 804
93, 657
90, 960
38, 186
82, 647
87, 050
81, 866
43, 370
353, 630
19, 683
403, 012
54, 489
299, 781
22, 651
387, 593
19, 875
3,525
2,453
9,829
8,795
8,837
9,757
65, 806
65, 620
94, 499
85, 922
51, 947
METALS AND MANUFACTURES
IRON AND STEEL
Foreign trade:
Iron and steel products (excl. advanced mfrs.) :
Exports total
short tons-Scrap
do
Imports total
do
Scrap
do
290, 000
18, 575
136, 730
21,090
346, 392
15, 719
182, 152
45, 220
249, 671
14, 357
182, 520
26, 102
252, 086
12, 537
299, 929
121, 140
281, 102
29, 006
256, 874
94, 601
263, 069
21, 122
451, 097
123, 831
285, 918
26, 253
467, 063
128, 456
261, 104
16, 479
482, 903
98, 700
307, 817
479, 284
66, 902
266, 896
18, 339
402, 678
46, 017
5,973
3,115
2,858
4,646
1,371
3,275
5,737
2,956
5,273
2,760
5,826
3,078
2,748
5,929
6,004
3,092
»• 6, 692
3,321
5,978
2,963
3,652
1,602
3,951
6,320
3,288
3,032
5,805
3,019
2,910
5,816
1,699
4,117
5,790
3,026
2,764
5,767
1,667
4,138
1,560
3,914
1,490
3,751
10, 740
10, 770
10, 306
12, 355
13, 274
13, 477
14, 238
14, 478
9,460
8,685
3,362
2,997
5,856
9,496
7, 388
14, 384
11, 544
2,840
11, 738
12, 704
24, 108
20, 651
678
19, 189
15, 997
3,192
893
64
978
9,766
Iron and Steel Scrap
Consumption total - thous of short tonsHome scrap
_- -- do
Purchased scrap
do
Stocks consumers' end of month total
do
Home scrap
do
Purchased scrap
_ __
do
2,781
5,151
1,499
2,513
5,553
1,711
4,056
5,475
3,372
5,462
2,912
5,240
1,337
4,125
3,015
4 951
1,302
3,649
Ore
Iron ore:
All districts:
Production
- -- thous of long tons
Shipments
do
Stocks at mines, end of month
do
Lake Superior district:
Shipments from upper lake ports
do
Consumption by furnaces
do __
Stocks end of month total
do
At furnaces
do
On Lake Erie docks
do
Imports
do
Manganese ore, imports (manganese content)
thous of long tons..
13, 887
14, 514
3,812
2,183
7,527
12, 999
13, 419
7,107
7,401
9,017
8,154
12, 191
7,175
35, 716
31, 388
11, 380
7,415
39, 711
35, 651
873
6,861
41, 543
36, 919
0
37, 169
31, 771
30, 227
25, 658
24, 123
20, 324
792
12, 482
7,371
29, 966
26, 084
3,881
852
964
733
376
620
107
88
56
70
67
57
88
1,095
573
1,040
1,136
613
1,287
961
508
1,670
1,202
677
1,794
1,159
649
1,840
1,255
701
1,930
1,161
657
2,012
1,182
653
43, 256
77, 074
76, 161
42, 432
56, 322
86, 783
82, 345
46, 613
55, 715
105, 300
67, 514
37, 198
77, 093
132, 374
86, 021
50, 019
67, 136
152, 583
82, 479
46, 927
57, 852
160, 278
89, 968
50, 157
68, 491
180, 099
85, 163
48, 670
65, 942
194, 950
91, 510
51, 091
5,855
5,827
5,633
5,637
5,879
5,620
5,770
5,752
5,697
5,703
5,924
5,845
5,387
5,395
5,693
5,676
6,011
r
7,249
7,579
3,456
15,012
4,328
920
4,059
5,490
6,993
4,624
7,476
7,289
7,327
5,398
4,569
59
3,315
2,028
8,762
0
6,211
3,799
573
17, 335
14, 919
2,417
661
15, 072
13, 258
1,813
741
69
81
83
6,016
5,888
6,173
53.58
52.00
52.50
53.61
53.61
0
6,435
7,372
7,235
12, 664
7,761
19, 772
17, 696
2,075
Pig Iron and Iron Manufactures
Castings, gray iron§:
Unfilled orders for sale
thous of short tons
Shipments, total
do
For sale
do
Castings, malleable iron§:
Orders new for sale
short tons
Orders, unfilled, for sale
do
Shipments, total
do
For sale
do
Pig iron:
Production _
thous. of short tons
Consumption
do
Stocks (consumers' and suppliers'), end of month
thous of short tons
Prices, wholesale:
Composite
dol. per long ton
Basic (furnace)
__
do
Foundry, No. 2, f. o. b. Neville Island
do
1
1
1
2, 298
1, 364
1762
1 2, 392
1 1, 234
1685
234, 060 l 255, 347
92, 508 1 88, 950
54, 817 1 54, 915
1
1
5,894
5,176
5,292
1,168
1,197
1,366
1,427
1,408
1,303
1,465
1,481
1,775
1,698
47.28
46.00
46.50
47.28
46.00
46.50
47.28
46.00
47.25
47.48
46.00
49.50
47.95
46.75
49.50
' 49. 86
50.53
49.00
53.19
51.63
53.58
52.00
52.50
53.58
52.00
52.50
131, 097
94, 637
27, 065
98, 269
128, 369
94, 413
24, 922
134, 574
96, 738
25, 295
149, 558
109, 660
30, 048
145, 929
108, 263
30, 775
155, 258 1 174, 056 1 163, 976
113, 692 * 124, 002 i 117, 156
34, 061 r ! 41, 586 1 41, 754
408, 345
342, 535
65, 810
117, 333
96, 061
21, 272
445, 567
391, 820
53, 747
94, 929
79, 081
15,848
- 547, 552
483, 840
63, 712
123, 608
99, 605
24, 003
620, 407
530, 689
89, 718
122, 408
97, 753
24, 655
643, 119
549, 214
93, 905
136, 737
107, 666
29, 071
656, 586
560, 354
96, 232
130, 286
102, 511
27, 775
673, 823
562, 239
111, 584
127, 784
97, 786
29, 998
708, 784
595, 875
112, 909
138, 413
108, 842
29, 571
781, 234
636, 611
144 623
128 799
97 448
31,351
874, 598
697, 335
177, 263
160 917
118 039
42, 878
924 202
736, 701
187 501
153 947
112 074
41, 873
8,143
r
!00
8,083
8,242
r
8,205
97
99
8,753
8,023
8,355
8,843
7 766
97
9 071
102
8 841
'l03
.0438
.0438
.0438
.0438
.0438
.0438
.0461
.0468
.0471
.0471
.0471
.0471
59.36
.0375
59.36
.0375
59.36
.0375
59.36
.0375
59.36
.0375
59.36
.0375
62.72
. 0400
62.72
.0400
62.72
0400
62.72
0400
62.72
0400
62.72
0400
43.90
40.50
43.60
44.00
44.00
44.00
46.50
47.75
' 46. 63
45. 00
45.00
45.00
49.00
49.50
49. 50
52.50
52.00
52.50
52.00
52.50
Steel Crude and Semimanufactures
Steel castings §:
117, 773
Shipments, total
short tons.
83, 845
For sale, total
_ _ _
_
do
20, 552
Railway specialties _
do
Steel forgings, for sale:
372, 804
Orders, unfilled, total
do
311,811
Drop and upset
_ do
60, 993
Press and open hammer.-. _
do
113, 657
Shipments, total
do
93, 459
Drop and upset. -_
do
Press and open hammer
do
20, 198
Steel ingots and steel for castings:
•• 2 8, 564
Production
thous. of short tons
2101
Percent of capacity J
_
_
Prices, wholesale:
.0438
Composite, finished steel
dol. per lb_.
Steel billets, rerolling (producing point)
59.36
dol. per long ton. _
Structural steel (Pittsburgh)
dol. per Ib
.0375
Steel scrap, heavy melting (Pittsburgh)
37.00
dol. per long ton_.
68,874
15, 734
95
102
97
98
100
r
948 636
746' 774
201 862
156 340
114 096
42, 244
9 095
' 103
Steel, Manufactured Products
Barrels and drums, steel, heavy types:
7,182
4,410
Orders, unfilled, end of month
thousands-4,856
5,795
7, 138
9,024
8,049
7,532
10, 614
9,517
9,938
10, 660
1,967
2 384
2,704
2,089
2,435
2,128
Shipments
. . do. .
2,604
2,588
2,517
2,766
2 762
2 313
35
36
Stocks, end of month
do
36
49
44
32
25
32
50
48
52
42
»• Revised.
1 See note marked "§".
2 Revisions for 1950: Steel ingot production (thous. of short tons), January-April—7,942; 6,803; 7,498; 8,225; percent of capacity, April, 101.
cfMonthly revisions (1940-46) to incorporate data for prefinished flooring and small quantities of species of hardwood flooring other than oak, included in current data, will be shown
later; scattered monthly revisions (1934-36) are available upon request.
§Data beginning January 1951 are estimated totals derived from a survey of approximately 1,300 ferrous foundries by the Bureau of Mines and the Bureau of the Census.
^Percent of capacity is calculated on annual capacity as follows: Data beginning January 1951, on capacity as of January 1 of 104,229,650 tons of steel; 1950—July-December, on 100,563,500
tons (as of July 1); January-June, on 99,392,800 tons (as of January 1).
SURVEY OF CURRENT BUSINESS
July 1951
Unless otherwise stated, statistics through
1948 and descriptive notes are shown in the
1949 Statistical Supplement to the Survey
S-33
1951
1950
May
June
July
August
September
October
November
December
January
February
March
April
268 022
' 164, 956
r 103 066
r 224, 124
f
1, 536
r
34, 006
276, 145
169, 462
106 683
234, 605
1,485
31, 453
May
METALS AND MANUFACTURES—Continued
IRON AND STEEL— Continued
Steel, Manufactured Products—Continued
Cans, metal, shipments (in terms of steel consumed) ,
total
short tons
Food
do
Nonfood
do
Shipments for sale
do
Commercial closures, production
millions
Crowns production
thousand gross
Steel products, net shipments:
Total
thous of short tons
Bars hot rolled — Carbon and alloy
do
Reinforcing
do
Semimanufactures
do
Pipe and tubes
do
Plates
do
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
282, 923
164, 147
118,776
241, 985
1,088
30, 531
356, 117
228, 767
127,350
312, 661
1,105
33, 036
396, 681
264, 343
132, 338
364, 504
1,124
33, 836
551, 451
395, 266
156,185
498, 369
1,527
36, 613
431, 161
310, 916
120, 245
382, 891
1,451
30, 291
349, 858
230, 772
119, 086
313, 218
1,520
28, 758
301,350
192, 709
108, 641
265, 628
1,330
29, 260
352, 487
235, 523
116 964
320, 501
1,275
26, 807
271, 782
160, 492
111, 290
234, 285
1,485
30, 925
239 543
148, 689
90, 854
203, 920
1,344
29, 040
6,253
702
138
241
803
467
186
1,768
154
200
364
432
456
6,192
693
138
229
807
447
186
1,735
157
187
361
438
471
5,669
594
156
250
703
393
152
1,728
115
177
347
420
354
6,326
674
169
282
801
454
158
1,756
170
214
343
467
495
6,145
689
151
269
770
482
154
1,697
159
210
355
424
433
6,504
753
159
307
740
542
147
1,839
172
228
374
388
495
6,051
671
152
280
648
540
131
1,673
170
196
389
376
484
6,433
732
152
336
717
551
140
1,843
178
207
365
401
452
6,905
767
155
320
744
631
158
1,977
184
237
409
408
510
5,776
644
141
258
631
522
115
1,641
167
197
353
299
442
61, 929
225, 388
60,400
167,154
63, 518
182, 954
63,006
207, 852
59, 449
213, 408
62, 915
149, 449
62, 276
203, 639
65, 897
250, 187
67, 954
236, 515
62, 740
228, 436
.0757
.0864
.0882
.0985
.1107
.1388
.1541
.1575
.1575
163.6
36.0
127.5
85.7
.312
175.1
37.6
137.5
92.7
.336
163.8
30.2
133.6
90.3
.342
208.9
39.9
169.1
113.0
.342
207.4
42.1
165.3
110.2
.363
210.1
47.3
162.8
106.8
.369
197.2
46.8
150.4
99.7
.378
199.0
46.0
153.0
101.6
.378
210.3
42.5
167.8
113.1
.378
r
6,635
736
141
272
757
653
162
1,821
184
217
412
361
495
7,105
792
161
306
824
681
160
1 937
189
238
452
397
524
NONFERROUS METALS AND PRODUCTS
Aluminum:
Production, primary
short tons
Imports, bauxite __ __
__ __ __longtons__
Price, wholesale, scrap castings (N. Y.)
dol. perlb_Aluminum fabricated products, shipments, total
mil. of Ibs
Castings
.. do
Wrought products, total
do
Plate, sheet, and strip _
_ _ do
Brass sheets, wholesale price, mill
dol. per lb__
Copper:
Production:
Mine production, recoverable copper
short tons. _
Crude (mine or smelter, including custom intake)
short tons
Refined
_ _ _ _ _
do
Deliveries, refined, domestic
do
Stocks, refined, end of month _ _
do
Exports, refined and manufactures
do
Imports, total
do
Unrefined, including scrap
do
Refined
do
Price, wholesale, electrolytic (N. Y.)_dol. per l b _ _
Lead:
Ore (lead content) :
Mine production
short tons
Receipts by smelters, domestic ore
do
Refined (primary refineries):
Production!
do
Shipments (domestic) t
-- do
Stocks end of month t
do
Price, wholesale, pig, desilverized (N. Y.)
dol. per lb__
Imports, total, except mfrs. (lead content)
short tons__
Tin:
Production pig
- -- long tons
Consumption, pig-do _
Stocks, pig, end of month, total§
do__
Government§ _
do
Industrial
do
Imports:
Ore (tin content)
__ _
_
do
Bars blocks pigs etc
do
Price, wholesale, Straits (N. Y.)cf— -dol. per fb__
Zinc:
Mine production of recoverable zinc.-short tons..
Slab zinc:
Production
_. __ _ - __
do
Shipments total
do
Domestic
_do
Stocks end of month
do
Price, wholesale, prime Western (St. Louis)
dol. perlb__
Imports, total (zinc content) _ - short tons
For smelting, refining, and export
do
For domestic consumption:
Ore (zinc content)
do
Blocks pigs, etc
do
70, 022
222, 030
.1575
.1600
190. 5
40.8
2
149 7
95.6
.378
f 2 206 6
42.2
2
67, 701
223, 503
67, 721
.1723
.1725
192. 2
40.2
152. 0
94.7
.378
.377
«• 82, 554
83, 988
2
2
r 2 164 4
101 0
.378
74,467
74, 828
72, 582
80,222
76, 666
77,800
81, 957
81, 712
80, 352
73, 012
83,104
83, 286
112,411
113,837
51, 043
14, 064
66, 117
27, 086
39, 031
.1961
96, 754
113, 961
125, 016
50, 350
11, 434
87, 222
39, 903
47, 319
.2200
85, 378
96, 758
96, 006
48, 290
9,785
29, 347
13, 112
16, 235
.2220
93, 138
108, 465
112, 107
50, 952
12,230
33, 576
8,204
25, 372
.2227
86, 678
111, 842
119, 529
58, 748
12, 035
36, 298
8.625
27, 673
.2290
90, 542
110, 435
121, 806
56, 945
11, 925
62, 526
33, 901
28, 625
.2420
90, 148
101,410
111,985
51,805
12, 226
38, 823
18, 664
20, 159
.2420
91, 218
109, 464
121, 954
49, 040
20, 905
54, 807
26, 912
27, 895
.2420
86, 961
110, 144
108, 128
54, 883
8,729
45, 828
25, 863
19, 965
.2420
81, 598
101, 054
99, 485
59, 324
16, 027
44, 850
22 005
22, 845
.2420
91, 243
112, 933
116, 793
55, 609
14 457
36, 062
20 952
15 110
.2420
r
38, 024
39, 099
36, 957
35, 811
31, 398
32, 283
36, 030
34, 952
35, 104
36, 912
35, 731
35, 394
35, 377
34,069
36, 175
36, 099
35, 481
33, 965
33 870
31, 977
37 096
36 040
r
48, 989
45, 702
76, 236
44, 490
35, 774
69,025
41, 520
41, 188
67, 809
47, 242
47, 031
67, 495
49, 958
55, 898
61, 042
54, 123
62, 138
50, 854
50, 725
58, 658
40, 910
48, 234
49, 601
35, 619
48, 878
51, 260
33 232
43 675
49, 128
27 775
50 701
50 927
27 259
1
90, 794
103, 494
114, 744
52, 800
17, 652
43, 812
24 047
19, 765
.2420
34 201
33 198
44 362
42, 033
29 437
44 951
40 963
33 420
.1700
.1172
.1181
.1166
.1293
.1580
.1604
.1700
.1700
.1700
.1700
.1700
.1700
41, 523
35, 646
50, 412
41, 831
43, 810
61, 002
114, 696
31, 526
12, 898
14, 918
21, 628
3,130
7,092
1 41, 442
17, 804
22, 587
3,653
7,059
i 42, 020
17,486
23, 666
3,529
6,678
i 42, 697
18, 554
22, 931
3,383
6,799
1 40, 995
18, 618
21, 931
3,566
6,456
i 38, 840
17, 786
20, 728
3,423
4,976
37, 933
17 753
19 352
3 491
1
2,605
6,478
42, 644
20, 623
20,117
1
2,574
2,717
6,571
8,157
42, 512 i 43. 717
18, 254
19, 623
22, 780
21, 910
1
.2420
33 487
34, 618
54,917
3,185
6,120
43, 41 7
23, 482
19,230
96 825
113 513
118,113
60 896
374
10, 434
.7750
473
8,613
.7770
658
11, 621
.8988
4,266
8,254
1. 0205
3,882
5,136
1. 0129
3,130
6,357
1. 1335
1,685
5,008
1. 3768
3,789
4,019
1.4478
4,545
5 836
1. 7172
2 927
2 213
1. 8268
2 753
4 405
1. 4546
62, 111
50, 625
48, 423
56, 221
54, 794
55, 791
54, 604
55, 127
59, 651
56, 878
60, 670
79, 645
90, 346
71, 101
41, 819
75, 766
90, 920
68, 214
26, 665
77, 868
84, 116
67, 119
20, 417
73, 399
79, 365
69, 073
14, 451
71, 057
75, 241
70, 656
10, 267
79, 997
81, 156
71, 596
9,108
79, 226
79, 079
69, 202
9,255
79, 986
80, 357
72, 333
8,884
80, 937
79 609
72, 068
10, 212
70, 285
69, 380
64, 784
11,117
80 450
80 462
70, 845
11 105
.1197
27, 202
0
.1465
43, 662
136
.1500
38, 824
0
.1505
58, 685
2,147
.1710
35, 137
0
.1750
39,456
6,169
.1750
34, 150
0
.1750
31, 744
596
.1750
37, 163
3,292
.1750
23, 519
3,100
.1750
26 375
3,720
.1750
23 938
2,263
13, 309
13, 893
30, 141
13,385
20, 467
18, 357
43, 921
12, 617
19, 724
15, 413
20, 446
12, 841
20, 665
13, 485
20, 001
11,147
25, 307
8,564
15 594
4,825
15 292
7,363
10 925
10, 750
2 204
2 273
1. 4583
1. 3996
r
56, 167
57, 907
r
r
77, 862
74 419
69, 125
14 548
80
77
73
17
r
r
430
567
093
411
.1750
HEATING APPARATUS, EXCEPT
ELECTRIC
Boilers, radiators and convectors, cast iron:
Boilers (round and square):
40, 153
19,386
25, 754
40, 329
21, 262
17, 399
38, 488
25, 747
Shipments _-- __ thous. of lb_
15, 349
12, 898
19, 456
19, 458
72, 295
48, 885
48, 483
87, 568
99, 986
100, 994
51, 520
48, 763
58, 577
67 150
Stocks end of month
__ _ _ _
do
52, 712
57, 400
Radiation:
5,714
4,372
6,449
4,020
4,675
5,798
5,127
Shipments _
thous. of sq. ft_
2,025
3,513
3 550
4 658
4,311
2,766
4,846
6,531
Stocks. end of month
_.do
7,821
2,951
4,020
3,200
7,505
4,842
3,028
3,717
3,099
r
1
2
Revised.
Includes small amount not distributed.
Data beginning February 1951 include figures for 30 companies (which operate captive extruding departments) not previously
canvassed; for February, the shipments by the additional companies increased total shipments for fabricated and wrought products 3 and 4 percent, respectively.
tRevised series. Data beginning 1949 have been revised to exclude figures for secondary refineries; revisions prior to 1949 will be published later. The production figures (corresponding
to those formerly designated as primary) include some secondary lead produced by primary refineries.
cf Substituted series. Compiled by the American Metal Market; data represent average of daily closing prices (prior series was based on averages for the day).
§ Government stocks represent those available for industrial use.
SURVEY OF CURRENT BUSINESS
S-34
Unless otherwise stated, statistics through
1948 and descriptive notes are shown in the
1949 Statistical Supplement to the Survey
July 1951
1951
1950
June
May
July
August
September
October
November
December
January
February
March
April
May
METALS AND MANUFACTURES—Continued
HEATING APPARATUS, ETC.—Continued
36, 498
37,489
43, 552
38, 920
44, 748
40, 689
43, 869
41, 104
35, 807
42, 122
47, 407
81, 725
80, 562
59, 401
123, 693
98, 656
50, 446
146. 922
138, 587
38, 747
118, 930
115, 780
37, 468
82, 903
114, 041
38, 411
65, 496
70, 285
44, 482
57, 837
60, 180
51, 564
65, 856
64, 370
61, 006
62, 963
59, 176
' 64, 586
56,894
56, 042
69, 485
53, 729
47, 415
75, 071
246, 283
8,783
220, 936
16, 564
281, 870
11, 113
256, 075
14, 682
376, 637
21, 045
333, 439
22, 153
323, 636
16, 157
288, 809
18, 670
338, 625
14, 827
309, 846
13, 952
295,344
11,187
270, 613
13, 544
263, 729
9,990
237, 001
16, 738
290, 374
12, 136
261, 793
16, 445
281, 362
10, 939
255, 112
15,311
318, 455
12, 714
290, 989
14, 752
243, 574
8,447
225, 879
9,248
190, 317
34, 975
101, 258
54, 084
294, 372
51, 160
137, 945
105, 267
433, 371
74, 704
228, 936
129, 731
785, 350
172, 497
321, 487
291, 366
658, 807
173, 145
277, 940
207, 722
610, 766
145, 742
290, 932
174, 092
464, 490
109, 658
243, 948
110, 884
327, 637
69, 393
171, 182
87, 062
235, 580
44, 719
112, 939
77, 922
270, 429
50, 814
128, 797
90, 818
311, 433
62, 291
159, 485
89, 657
285, 184
55, 400
164, 258
65, 526
78, 349
50, 162
21, 286
6,901
237, 837
98, 517
58, 476
30, 867
9,174
255, 072
102, 189
54, 203
35, 380
12,606
243, 490
145, 512
76, 463
45, 644
23, 405
322, 909
139, 014
74, 241
44, 980
19, 793
280, 683
137, 915
67, 036
51, 285
19, 594
286, 907
102, 001
50, 336
36, 988
14, 677
257, 999
85, 407
45. 666
29; 917
9,824
250, 134
71, 143
36, 398
26, 639
8,106
266, 442
71, 966
35, 969
24, 957
11, 040
254, 525
79, 239
41, 180
24, 584
13, 475
265, 122
60, 337
30, 033
19, 616
10, 688
235, 355
Boilers, range, shipments
_ _ __ __ .number. . 33, 563
Oil burners:
61, 945
Orders, unfilled, end of month
do
64, 001
Shipments
do
57, 818
Stocks, end of month
_ _
__do
Stoves and ranges, domestic cooking, exc. electric:
Shipments, total
_ __ number. - 266, 647
8,663
Coal and wood
do
244, 080
Gas (inc. bungalow and combination)
do
13, 904
Kerosene, gasoline, and fuel oil
do
Stoves, domestic heating, shipments, total
do _
Coal and wood
__
do
G a s_ _ _ _ _
do
Kerosene, gasoline, and fuel oil
do
Warm-air furnaces (forced-air and gravity-air flow) ,
shipments, total
_ _
number. _
Gas
do
Oil
_ _ _ _ ___do____
Solid fuel
do
Water heaters, nonelectric, shipments
do
MACHINERY AND APPARATUS
Blowers, fans, and unit heaters, quarterly:
Blowers and fans new ordersj
thous of dol
Unit heater group, new ordersj
do
Foundry equipment (new), new orders,
net
1937-39=100..
Furnaces, industrial, new orders:
Electric
thous. of doL.
Fuel-fired (except for hot rolling steel)* ..do _
Machine tools:
New orders*
1945-47=100
Shipments
do
Mechanical stokers, sales:
Classes 1, 2, and 3
number
Classes 4 and 5:
Number
__
__ _
Horsepower
Pumps, steam, power, centrifugal and rotary, new
orders
thous. of dol..
ELECTRICAL EQUIPMENT
Batteries (automotive replacement only), shipments
thousands ..
Domestic electrical appliances, sales billed:
Refrigerators, index
1936 =100. _
Vacuum cleaners, standard type
number..
Washers
do
Insulating materials and related products:
Insulating materials, sales billed, index _ 1936 =100. .
Fiber products:
Laminated fiber products, shipments
thous. of dol. .
Vulcanized fiber:
Consumption of fiber paper
thous. of lb_.
Shipments of vulcanized products
thous. of doL.
Steel conduit (rigid) and fittings, shipments
short tons_.
Motors and generators, quarterly:
New orders, index
1936=100
Polyphase induction motors, 1-200 hp.:d"
New orders
thous of dol- .
Billings
do
Direct current motors and generators, 1-200 hp. :cf
New orders
thous of dol_ .
Billings
do
32 471
17, 870
28, 317
9,715
37, 020
17, 117
32 524
17 667
294.9
622.7
401.8
693.6
483.8
526.8
885.5
526.2
668.0
638.6
599.0
490.1
431.7
982
1,392
1,328
1,166
1,445
2,247
1,039
3,927
1,485
1,817
1,603
2,306
2,157
2,068
1,505
2,749
2,764
4,033
3,212
4,670
4,846
7,019
3,657
8,497
4,766
5,044
116.4
82.5
124.1
91.9
253.1
68.3
305.1
95.7
280.6
101.6
289.6
100.9
291.9
110.9
410.1
135.7
475.4
114.3
615.5
123.8
591.8
158.9
r
157. 7
*>174 9
1, 590
1,170
983
163
38, 095
178
65, 561
177
72, 575
184
56 624
6,480
7,654
7,583
6,371
1,390
1,113
' 1, 790
1,405
330
290, 242
376, 458
242
227, 216
298 797
201, 983
262 734
r
743
1,450
2,234
4,430
3,546
2,950
1,891
1,937
1,636
1,509
134
34, 960
226
62, 952
248
64, 582
352
87, 404
358
64,638
259
66, 472
174
38, 343
176
73 142
174
61, 953
3,688
4,153
4,080
6,429
5,191
4,985
5,961
6,720
6,477
1,196
1,646
2,060
2,839
2,925
3,007
2,536
2,172
1,873
328
278, 645
304, 600
332
250, 190
325, 200
304
279,967
282, 300
293
341, 232
381, 500
302
327, 524
424 000
236
331, 445
439, 900
228
265, 310
380 000
219
288, 756
377 000
275
282, 305
323, 957
446
449
370
466
514
547
542
564
595
552
662
6,069
6,165
5,164
6,288
7,054
7,332
7,266
7,574
i 8, 102
* 7, 552
i 9, 279
8, 911
i 8, 583
4,319
4,326
3,831
4,721
4,674
5,048
4,844
4,738
5,399
5,153
4,251
5,233
4,185
1,534
1,523
1,271
1,717
1,794
2,088
2,036
1,965
2,244
2,000
2,351
2,287
2,237
17, 219
21, 645
24,723
30, 543
29, 123
25, 875
24, 489
27, 561
25, 055
23, 389
28, 590
27, 464
27, 891
r
r
r
238
261, 572
345 994
r
334
551
674
780
25, 436
24 608
46, 582
29 610
55 054
37 905
64, 221
40 357
6,106
4,347
7,428
4,163
10 648
5,382
10 666
6,082
r
626
1
PETROLEUM, COAL, AND PRODUCTS
COAL
Anthracite:
Production
thous of short tons Stocks in producers' storage yards, end of month
thous. of short tons._
Exports
do __
Prices, composite, chestnut:
Retail
dol per short ton
Wholesale
do
Bituminous:
Production- __
thous. of short tons
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
4,258
4,196
2,875
4 417
3 862
4,313
3 379
3 360
4 199
3,522
2 183
2 602
3 622
408
364
556
345
637
275
878
318
1,035
480
1,298
461
1,416
346
1,268
328
1,068
374
815
323
740
197
732
227
747
20 33
16 207
20 36
16 356
20.76
16. 498
21 26
16 636
21 52
16 739
21 74
16. 886
21 90
16 980
22 06
17 121
22 14
17 134
23 24
18 540
23 48
18 497
23 35
18 062
22 50
17 818
45 798
45, 823
35, 109
50, 083
47, 297
51 376
45 512
47 497
51 470
40 451
44 862
41 977
43 390
34, 031
33, 819
37, 954
38,887
46, 376
33, 248
36, 957
44, 875
41, 665
36,031
40, 033
41,300
33, 737
28,581
30, 202
32, 902
29, 651
28, 763
30, 836
33 270
36, 095
32, 150
34 345
31 185
35 596
30 558
704
864
795
1,006
903
1,000
891
1,105
1,038
983
905
980
978
8,072
8,340
8,480
8 367
8, 183
8, 057
8 006
8 473
8 633
7 665
8 584
8 413
8 708
799
625
636
649
670
749
652
705
638
702
745
685
695
6,797
8,186
7,782
6,779
8,451
6,645
7,456
9,024
9,286
8,300
8,714
7,583
7,664
4,750
4,727
4,926
4,988
5,360
4,972
5,329
4 901
5 717
5 398
5 615
4 798
4 367
539
622
558
583
611
668
795
671
553
848
765
767
609
7 537
6,735
7,127
7,624
8,560
7 738
9 176
7 609
8 843
9 197
8 130
9 761
9 910
4. 485
5.238
7.118
5.985
4.380
6. 755
6.763
9.279
10. 281
9. 150
7.320
4.846
3.179
r
Revised.
*> Preliminary.
1 Beginning January 1951, data cover 3 additional reporting companies.
jSee note marked "J" on p. S-34 of the June 1950 SURVEY regarding revised data.
cf The number of companies reporting is as follows: Polyphase induction, first half of 1950. 31; beginning second half of 1950, 32; direct current, year 1950, 29; 1st quarter of 1951, 28.
* New series. Data for new orders of fuel-fired furnaces are compiled by the Industrial Furnace Manufacturers Association, representing orders (less cancellations) for metallurgical and
other purposes as reported by 24 to 28 companies. Currently, the combined data for electric and fuel-fired furnaces account for about 80 percent of the industry total; data prior to 1949 will be
shown later. The index of new orders of machine tools, compiled by the National Machine Tool Builders' Association, is based on dollar volume of shipments reported by members which are
believed to account for about 85 percent of the total orders and shipments of the industry. See note in 1949 STATISTICAL SUPPLEMENT for description of tools included in the index. Monthly
data for 1937-50 are shown on p. 24 of the April 1951 SURVEY.
SURVEY OF CURRENT BUSINESS
July 1951
S-35
1951
1950
Unless otherwise stated, statistics through
1948 and descriptive notes are shown in the
1949 Statistical Supplement to the Survey
May
June
July
August
Septem-
ber
October
Novem-
ber
Decem-
ber
January
Febru-
ary
March
April
May
PETROLEUM, COAL, AND PRODUCTS—Continued
CO A L—Continued
B ituminous— C ontinued
Consumption on vessels (bunker fuel)
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
do
Exports
do
Prices, composite:
Retail
dol. per short ton
Wholesale:
Mine run
do
Prepared sizes
_
do.
COKE
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
Exports
do
Price, beehive, Connellsville (furnace)
dol. per short ton..
85
32
88
78
87
84
83
40
27
37
41
90
44, 795
42, 840
9,572
771
16, 774
3, 113
841
11, 769
1,955
3,072
51, 376
49, 198
11, 280
902
19, 505
3,802
951
12, 758
2,178
2,657
51, 979
49, 751
10, 395
944
20, 581
3,238
891
13, 702
2,228
2,728
58, 964
56, 620
12, 353
1,089
22, 925
3,746
928
15, 579
2,344
2,956
64, 293
61, 836
13, 964
1,181
24, 940
3,646
968
17, 137
2.457
2^923
70, 478
67, 714
15, 666
1,283
26, 668
4.172
989
18, 936
2,764
3,085
72, 131
69, 389
16, 329
1,361
27. 529
4,513
1,005
18, 652
2,742
2,582
72, 516
70, 054
16, 776
1,369
27, 121
5,105
1,012
18, 671
2,462
1,827
74, 006
71, 766
16, 960
1,418
27, 006
5,311
1,074
19, 997
2,240
2,257
70, 662
68,754
16, 374
1,318
25, 875
5,046
1,044
19, 097
1,908
2,412
71, 425
69, 813
16, 751
1,243
26, 529
4,854
1,091
19, 345
1,612
3,207
72, 081
70, 550
16, 462
1,232
27, 571
4,739
1,143
19, 403
1,531
4 752
16.16
16.09
16.12
16.31
16.47
16.74
16.77
16.80
16.86
16.94
16.97
8.729
9.403
8.707
9.394
8.689
9.380
8.698
9.464
8.699
9.562
8.713
9.582
8.735
9.582
8.741
9.582
8.741
9.582
8.967
9.736
8.967
9.661
8.944
9.441
529
5,868
296
581
5,657
304
501
5,868
318
653
5,765
315
592
5,671
283
644
6,006
289
578
5,666
288
626
5,981
301
715
6,077
327
603
5,399
288
651
6,042
r
297
T
573
5,911
286
623
6,122
718
611
108
133
32
724
612
111
129
22
818
642
176
125
39
827
599
228
101
34
855
584
271
104
37
984
661
323
85
41
1,102
752
351
74
46
1,106
813
293
82
42
1,100
905
195
86
54
1,069
932
137
116
51
1,266
1,134
132
118
50
1,410
1,219
191
125
59
1,445
1,211
233
14. 250
14.250
14. 250
14.250
14. 250
14. 250
14. 250
14. 625
14.750
14.750
14. 750
14. 750
14.750
1,974
159, 441
90
171, 599
2,334
161, 332
88
169, 663
2,200
170, 017
91
182 330
2,276
175, 594
94
188, 078
2,023
176, 636
94
181, 778
2,019
182, 896
94
188, 393
2,211
176, 725
93
182, 539
2,008
177, 276
94
190 448
1,917
183, 110
96
199, 958
1,518
166, 041
96
183 745
1,895
187, 624
96
200, 535
1,770
183 800
91
185 488
239, 877
62, 944
160, 751
16, 182
242, 287
63, 639
162, 506
16, 142
240, 270
62, 845
160, 254
17, 171
237, 393
61, 247
159, 357
16, 789
242, 311
60, 884
164, 303
17, 124
246, 424
61, 993
167, 490
16, 941
249, 525
61,053
171, 343
17, 129
248, 463
63, 328
167, 941
17, 194
243, 107
60, 377
164, 555
18, 175
235, 247
56, 260
161,556
17, 431
233, 824
58, 671
157, 710
17, 443
243, 180
63, 366
162, 444
17, 370
2,946
13, 731
2.570
3,095
14, 359
2.570
3,274
13, 575
2.570
3,096
15, 307
2.570
2,654
14, 607
2.570
4,033
15, 496
2.570
3,229
13, 269
2. 570
2 917
15, 185
2.570
2,913
16, 192
2.570
2,471
12, 699
2.570
2,640
14, 305
2.570
3 615
15, 141
2.570
30, 920
32, 954
31, 112
32, 058
32, 253
35, 338
33,765
35, 585
35, 392
35, 343
37, 723
38, 759
36,530
37, 202
41, 628
40, 475
44, 244
42, 397
39, 742
38, 696
41, 129
41, 771
35, 139
36,908
25, 123
41, 955
19, 705
39, 055
23,864
40, 743
26, 785
44, 762
24, 864
42, 668
29, 320
45, 980
35, 411
47, 977
55, 343
56, 198
57, 331
56, 223
50, 085
51, 101
45, 046
53, 568
32, 185
46, 663
5,673
3,833
4,713
5,275
4,117
5,039
5,324
4,029
4,477
6,043
4,284
5,422
5,899
4,117
4,772
6,145
4,474
4,980
6,194
4,247
4,545
6,281
4,207
5,125
6,417
4,204
4,664
5,573
3,594
5,008
5,527
4,251
5,846
4,811
3,889
6,753
42, 739
39, 482
53, 679
40, 124
61,664
42, 165
68, 426
40,979
78, 270
41, 966
85, 643
45, 004
86, 113
45, 048
71 948
40, 750
58, 424
40, 317
47,587
39, 409
42, 978
37, 516
44, 736
36, 910
714
861
626
1,398
1,011
935
809
1,221
916
802
1,124
632
935
1,071
801
1, 32fi
660
663
643
644
773
1,077
1 361
982
.078
1.590
.081
1.625
.081
1.620
.082
1.650
.086
1.650
.088
1.650
.091
1.650
.091
1.700
.091
1.750
.091
1.750
.091
1.750
.091
1.750
9,790
5,700
17, 304
71
8,477
4,629
21, 117
26
9,091
6,926
23,151
77
9,828
7 035
25, 803
61
9,989
7,920
27, 677
113
10, 264
9,486
28, 292
136
10, 255
12 737
25, 526
205
11, 261
16 817
19, 723
214
12, 715
15 633
16, 673
46
11, 475
14 789
13,150
125
12, 371
11 511
8 678
16 262
185
r
74, 807
73, 109
16, 175
1,266
29, 826
4,567
1,232
20, 043
1,698
16.66
16. 94
1
8. 911
9.402
PETROLEUM AND PRODUCTS
Crude petroleum:
Wells completed __
number
Production
thous. of bbl
Refinery operations ..
percent of capacity
Consumption (runs to stills)
thous of bbl
Stocks, end of month :cf
Gasoline-bearing in U. S., total
do
At refineries
_
do
At tank farms and in pipelines _ _
do
On leases
_
do
Exports
do
Imports
do
Price (Oklahoma-Kansas) at wells f. dol. per bbl__
Refined petroleum products:
Fuel oil:
Production:
Distillate fuel oil
thous. of bbl
Residual fuel oil
...
do
Domestic demand:
Distillate fuel oil
do .
Residual fuel oil
_
do
Consumption by type of consumer:
Electric-power plants
_
do
Railways (class I)
do
Vessels (bunker oil).
do
Stocks, end of month:
Distillate fuel oil©
do
Residual fuel oil
do
Exports:
Distillate fuel oil
do
Residual fuel oil ..
do _
Prices, wholesale:
Distillate (New York Harbor, No. 2 fuel)f
dol. per gal_.
Residual (Okla., No. 6 fuel)*..dol. per bbl..
Kerosene:
Production
thous. of bbl
Domestic demand
do
Stocks, end of month
do
Exports
__
do
Price, wholesale, bulk lots (New York Harbor)!
dol. per gal..
Lubricants:
Production
thous of bbl
Domestic demand
do
Stocks, refinery, end of month
do
Exports
_ _- --.
do
Price, wholesale, bright stock (midcontinent,
f. o. b. Tulsa)t
dol. per gal_.
.090
.092
.092
.093
.096
.098
.101
.101
.101
.101
4,039
3,346
8,280
1,160
4,002
3,588
7,736
910
4 151
3,339
7,427
2
1, 099
4 686
3 822
7,145
2 1, 101
4 646
3,511
6,950
2
1, 281
4 987
3,907
6,973
2
992
4 906
3 322
7,283
1 222
5 068
3 012
7 849
2 i 402
5 061
3 539
8,160
2 i 157
4 339
3 115
8,386
2934
.172
.181
2
r
r
r \\ 788
13, 657
40
.101
5 108
3 691
8,209
2 1 533
r
.101
2.570
4,508
.091
1.750
.101
5 175
3 550
8 393
2 1 377
.290
.268
.255
.199
.220
.290
.270
.290
.290
.290
.282
r
Revised.
i The comparability of the data is slightly affected in May 1951 by substitutions in the reporting companies. Price on new basis for April 1951 is $8.916.
2
Excludes "special category" exports not shown separately for security reasons.
concludes stocks of heavy crude in California.
fRevised series. Beginning in the July 1950 SURVEY, the following price series have been substituted for those previously shown: Crude petroleum, 36°-36.9° gravity (former series, 33°33.9°); distillate fuel oil, New York Harbor, No. 2 fuel, bulk lots, f. o. b. refineries or terminals, excl. all fees and taxes (former series, Pennsylvania, 36°-40° gravity); lubricating oil, bright stock,
conventional, 150-160 viscosity D, p-10 pour point, midcontinent, excl. all fees and taxes (former series, cylinder, Pennsylvania). Beginning in the April 1950 SURVEY, prices for kerosene (N. Y.
Harbor, No. 1 fuel, f. o. b. refineries or terminals, excl. all fees and taxes) replace those for water white, Pennsylvania. Data beginning 1935 for all series except kerosene are shown on p. 20
of the March 1951 SURVEY; kerosene prices beginning 1935 are shown on p. 24 of the August 1950 SURVEY.
*New series. Compiled by the U. S. Department of Labor, Bureau of Labor Statistics. Prices are for bulk lots, excluding all fees and taxes (Oklahoma, group 3). Data beginning 1935 are
shown on p. 20 of the March 1951 SURVEY; prices were inadvertently quoted as dollars per gallon instead of dollars per barrel.
GNew basis. Beginning January 1950, coverage was increased to include one East Coast terminal not previously reporting.
SURVEY OF CURRENT BUSINESS
S-36
July 1951
1951
1950
Unless otherwise stated, statistics through
1948 and descriptive notes are shown in the
1949 Statistical Supplement to the Survey
May
June
July
August
September
October
November
December
January
February
March
April
May
PETROLEUM, COAL, AND PRODUCTS—Continued
PETROLEUM AND PRODUCTS— Continued
Refined petroleum products— Continued
Motor fuel:
All types:
92, 710
84, 801
85, 181
91,017
87, 539
Production, total
thous. of bbl__
90, 917
Gasoline and naphtha from crude petro82,367
75, 128
80, 365
76, 939
74, 958
79, 815
leum
thous. of bbl
15, 449
14, 254
15, 002
14, 246
15, 466
16, 476
Natural gasoline and allied products. -do
Sales of 1. p. g. for fuel, etc., and transfers
5,106
4,403
4,350
4,866
5,374
4,201
of cycle products _
thous. of bbl _
7,506
8,510
7,113
7,321
8,520
9,302
Used at refineries
do
94,
537
89,
033
90,170
91,
707
86,
766
89,
126
Domestic demand
_
_ _ do_ _
Stocks, gasoline, end of month:
102,
769
99,
423
112,
915
106,
026
97,
904
97,
844
Finished gasoline, total _ _
do
56, 743
58, 891
68, 403
61, 771
55, 676
55, 560
At refineries
do
7,644
7,844
8,120
8,048
8,286
7,920
Unfinished gasoline
-do _ _
8,163
8,151
8,667
8,730
8,226
8,581
Natural gasoline and allied products - . do
1997
1,852
1,431
1 1, 452
1 1, 853
1 1, 823
Exports
do
Price, gasoline:
Wholesale, refinery (Oklahoma), group 3
.103
.104
.102
.104
dol. per gal. _
.098
.101
.147
.142
.147
.142
.145
.147
Wholesale, tank wagon (N. Y.)f
do_ .
.203
.202
.199
.201
.205
.201
Retail, service stations, 50 cities
do
Aviation gasoline:
4,896
3,954
3,781
4,264
5,604
5,107
Production total
thous. of bbl
4,152
2, 859
2,944
3,929
3,320
4,247
100-octane and above
do
6,593
6,133
6,656
7,138
6,000
6,579
Stocks, total
do_ _ _
3,023
3,260
3,288
3,226
2,970
3,256
100-octane and above
_ _ do_ _
Asphalt:
929, 300 1, 043, 800 1, 173, 300 1, 246, 000 1, 197, 600 1, 140, 200
Production
short tons
790, 000
1, 298, 900 1, 155, 300 1, 051, 500
742, 400
670, 200
Stocks, refinery, end of month
do
Wax:
113, 960
96, 320
114, 800
104, 720
98, 840
107, 240
Production
thous. of Ib
151, 760
161, 560
145, 880
151, 760
158, 480
135, 240
Stocks refinery, end of month
do
Asphalt products, shipments:
5,960
6,256
5,912
6,246
7,044
6,744
Asphalt roofing, total
thous. of squares..
Roll roofing and cap sheet:
1,201
1,372
1,333
1,146
1,125
1,553
Smooth-surfaced
- - __do
1,251
1,219
1,481
1,347
1,197
1,528
Mineral-surfaced
do
3,793
4,191
3,575
3,589
3.594
3,663
Shingles all types
do
141
145
166
136
176
209
Asphalt sidings
do
63, 313
61,021
64, 922
60, 264
56, 157
59, 937
Saturated felts
short tons. _
87, 322
90,945
94, 132
83, 752
93, 378
87, 319
76. 808
16, 256
80, 229
17,241
83, 773
17, 314
74, 335
15, 631
82, 140
17, 780
76, 826
16, 708
5,742
8,968
82, 718
6.525
9,011
81, 063
6,955
8,045
80,554
6,214
7,028
72, 717
6,542
7,997
* 86, 846
6,215
7,803
87, 430
100, 995
57. 934
8,010
7,636
1 1, 486
108, 669
64, 276
8,100
7, 355
i 2, 109
120, 473
76, 160
8,006
7,474
1
1, 132
129, 537
84, 250
7,706
7,842
1
1,097
133, 465
85, 096
7,991
8,109
1
1, 950
130, 501
79, 357
8, 687
8,522
1 1, 976
.104
.147
.202
.101
.147
.207
.104
.147
.206
.104
.147
.206
.104
.147
.205
.104
.147
.203
5,468
4,198
7,215
3,802
5,909
4,883
7,220
3,744
5,789
4,091
7,813
3,518
5,010
4,144
8,255
3, 837
6,113
5,017
8,566
4, 048
5,523
4,464
8,590
4,053
.104
.147
.200
875, 500
785, 500
681, 500
643, 300
806, 500
717, 100
915, 600
962, 400 1, 108, 000 1,282,700 1, 468, 000 1, 572, 500
120, 120
135, 800
122,080
141,120
124, 600
144, 760
108,640
139, 440
122, 640
140, 840
122, 360
152, 600
6,306
5,262
5,259
4,354
5,357
4,795
4, 900
1,559
1,466
3,282
213
59, 335
1,410
1,168
2,684
171
56, 481
1,352
1,241
2,666
202
71, 675
1,148
996
2,210
170
61, 158
1,290
1,203
2,864
193
71. 673
1,052
1,016
2,727
139
64, 999
1, 038
1, 034
2,828
147
67, 044
T 2, 339
r
2, 257
r
4, 419
1 969
2,225
4 179
904, 918
870, 516
450, 186
877 318
849, 609
479 571
PULP, PAPER, AND PRINTING
PULP WOOD AND WASTE PAPER
Pulp wood:
Receipts
thous. of cords (128 cu. ft.)_
Consumption
-- do_ __
Stocks end of month
do
Waste paper:
Receipts
short tons..
Consumption
_
-- - do_
Stocks end of month
_
_ do
WOOD PULP
Production:
Total, all grades
_ thous. of short tons__
B leached sulphate
short tons__
Unbleached sulphate
do
Bleached sulphite
do
Unbleached sulphite
do
Soda
do
Ground wood
- do
Defibrated exploded, etc
do
Stocks, own pulp at pulp mills, end of month:
Total, all grades
- short tons__
Bleached sulphate
do
Unbleached sulphate
_ _ -. -do
Bleached sulphite
do
Unbleached sulphite
do
Soda
- - do
Groundwood
do
Exports, all grades, total
Imports all grades total
Bleached sulphate
Unbleached sulphate _ _
Bleached sulphite
Unbleached sulphite . _
Soda
._ _
Groundwood
-
_ do
do
do
..do _
do
_ . do
do
do
1,523
1,977
3,542
1,836
1,983
3,392
1,968
1,864
3,491
2,326
2,093
3,724
2,042
1,982
3,780
2,083
2,160
3,704
2,113
2,108
3,704
2,121
2,014
3,815
2,487
2,149
4,155
2,169
1,985
4, 336
638, 275
640, 671
357, 892
639, 504
639, 505
354, 200
568, 893
560, 469
362, 209
711, 910
732,001
348, 450
688, 843
687, 173
342, 677
776, 402
756, 727
377,351
751,411
752, 065
362, 549
740, 953
715, 429
386, 552
818, 506
797, 339
412, 699
824, 075
840, 384
416, 826
1,247
146, 106
490, 032
180, 213
59, 257
48, 300
187, 516
77, 819
1,221
147, 158
469, 188
172, 920
57, 643
47, 249
188, 297
78,001
1,166
144, 591
454, 886
160, 826
53, 735
41, 723
172, 495
80, 570
1,322
149, 488
513, 779
187, 933
63, 566
47, 382
193, 498
93, 800
1,232
144, 773
468, 025
171, 788
63, 712
43, 949
187, 878
86, 153
1,370
177, 134
529, 945
192. 824
67, 324
38, 128
204, 512
89 124
1,326
168, 086
511, 043
187, 622
68, 734
36, 731
199 068
86 249
1,252
162, 222
467, 746
169, 696
68 152
34, 931
197 756
84 495
1,349
183, 559
526, 488
195, 541
67, 698
38, 821
215, 190
52 000
1,238
163, 912
490, 986
177, 141
60 351
35, 545
195 426
50 000
111, 537
11, 204
7,371
26, 042
18, 555
1,483
37, 509
105, 914
11, 448
7,787
25, 667
13, 552
1,590
36,325
102, 428
12, 886
8,804
21, 701
13, 313
1,314
35, 614
104, 631
13, 022
9,540
24, 558
12, 282
1,830
33, 580
93, 120
13, 595
9,415
18, 215
14, 290
750
31, 077
90, 386
14, 573
9,620
19, 446
13, 787
515
29, 309
87, 929
14, 424
9,659
18, 547
12, 854
683
29, 842
81, 974
10, 162
9,708
13, 534
12, 525
1,040
33, 043
90, 397
10, 515
9,441
20, 309
12, 354
597
35, 161
94, 466
12, 255
8,871
21 760
11, 502
648
37 282
94 753
13 787
7 500
20 129
11 799
1 039
38 261
7,331
204 391
48, 556
30, 980
56, 115
41, 189
2,833
24, 002
7,891
225 369
40, 444
48, 899
59, 980
44, 916
2,851
25 974
6,754
177, 749
29, 479
34, 330
47, 022
43, 018
2,707
20, 149
7,818
186 225
35, 754
40, 953
46, 193
34, 465
3,205
24, 891
10,223
192 495
29 312
34, 382
58 365
44, 997
2,868
21, 708
6,479
207 456
44 529
36, 736
47 779
53 955
3 368
20 080
8,882
208 867
35 204
28, 388
59 107
52 720
2,936
29 675
18, 888
204 658
35 783
36 472
57 207
43 220
2 614
28 673
14, 761
219 455
31 307
40, 390
54 707
55 357
3 114
33 637
14, 457
205 766
52 915
34, 478
48 343
44 564
2 357
22 328
11, 520
198 432
36 395
27 134
52 128
46 934
3 025
31 722
T
T
r
r
1 414
1 402
192, 303
188, 992
540 138
551 605
193 598
197 986
68 017
66 461
38 122
38 611
215 998 r 209 937
98 000
67 000
r
100, 406
13 112
9,499
21 632
13 144
862
r 39 953
1 484
198, 043
567 270
204 644
65 900
40 607
222 535
106 000
102 953
12 994
10 171
24 583
11, 158
571
40 487
19 048
180 206
41 549
22 080
46 365
40 067
3 007
26 241
PAPER AND PAPER PRODUCTS
All paper and paperboard mills:
Paper and paperboard production, total
thous. of short tons..
Paper (incl. building paper)
do
Paperboard
_do
Building board
do___
2,047
1,021
921
106
r
l
Revised.
Excludes "special category" exports not shown
tRevised series. Beginning with the October 1950 SURVEY,
January 1951 SURVEY.
1,813
2,184
2,029
2,085
2,233
2,193
2,252
2,096
' 2, 372
2,101
2,320
1,033
939
1,062
1,024
1,088
1,061
1,098
1,023
1,037
1,100
' 1, 146
r 1 H4
784
890
1 002
1 025
946
1 015
1 063
946
985
1 091
90
106
120
114
121
118
92
92
113
129
'113
separately for security reasons.
prices have been revised to exclude Federal and State taxes 'Comparable figures for 1935-49 are shown on p. 24 of the
S-37
SURVEY OF CURRENT BUSINESS
July 19r>l
1951
1950
1948 and descriptive notes are shown in the
1949 Statistical Supplement to the Survey
May
June
July
August
September
October
November
December
January
February
March
April
May
PULP, PAPER, AND PRINTING—Continued
PAPER AND PAPER PRODUCTS— Con.
Paper, excl. building paper, newsprint, and paperboard (American Paper and Pulp Association) :f
Orders new
short tons
Orders, unfilled, end of month
do
Production
do
Shipments
do
Stocks, end of month
do
Fine paper:
Orders, new
- - do
Orders, unfilled, end of month
do
Production
do
Shipments
- do
Stocks, end of month
do
Printing paper:
Orders, new
do
Orders, unfilled, end of month.
_ do_
Production
do
Shipments
do
Stocks, end of month
do
Price, wholesale, book paper, "B" grade, English finish, white, f. o. b. milL.dol. per 100 l b _ ^
Coarse paper:
Orders, new
short tons-_
Orders, unfilled, end of month . _
do
Production
_
_
_
_do_
Shipments
do
Stocks, end of month _ _ _
do
Newsprint:
Canada (incl. Newfoundland) :cf
Production
- do
Shipments from mills
do
Stocks, at mills, end of month
do
United States:
Consumption by publishers.
do
Production
do
Shipments from mills
do
Stocks, end of month:
At mills
do
At publishers
do
In transit to publishers do _
Imports
do
Price, rolls (New York)
dol. per short ton__
Paperboard (National Paperboard Association):
Orders, new
_ _ short tons
Orders, unfilled, end of month
do
Production, total
do
Percent of activity
Paper products:
Shipping containers, corrugated and solid fiber,
shipments
mil sq ft surface area
Folding paper boxes, value:
New orders
1936= 100. Shipments
do
808, 496
529, 385
815,032
811,132
341, 697
847, 356
554, 672
818, 109
822, 024
337, 442
916, 494
747, 500
716, 851
723, 563
330, 201
974, 653
876, 300
837, 275
845, 813
320, 572
852, 625
913, 297
806, 044
815, 574
310, 663
870, 578
912, 860
866, 740
870, 994
305, 900
815, 448
877, 359
847, 408
852, 096
300, 855
821, 664
858, 760
825, 242
840, 249
285, 368
937, 879
932, 405
871, 450
862, 728
295, 545
821, 801
884, 769
821, 858
817,717
292, 998
r 964, 941
r 984, 495
••917,112
«• 916, 683
r 293, 423
' 906, 748
n, 01 6,525
r 874, 087
' 875, 577
' 291, 710
904, 000
996, 500
921,000
923, 000
289, 580
108,155
57, 568
105,417
106, 175
84, 467
110, 740
61, 355
103, 500
106, 950
81, 219
135, 1 50
110, 150
83, 586
86, 350
78, 654
149, 100
143, 200
111,310
116,050
74, 115
114, 207
145, 772
106, 764
111,635
69, 450
115, 272
147, 840
112,207
113, 203
68, 655
102, 770
138, 575
110,119
112, 035
»• 66, 760
102, 340
131, 785
104, 131
109, 129
61, 783
118, 960
139, 145
111,113
111,600
81, 295
103, 864 ' 110, 114
146, 200 r 140,035
99, 753 r 115, 661
96, 800 r 116, 276
64, 245 «• 63, 630
' 117, 748
r 146, 480
r 113, 223
f 111, 302
' 65, 550
110, 000
140, 000
117,000
116, 000
66, 500
272, 365
231, 570
275 169
277, 572
118, 200
291, 915
249, 880
272, 989
273, 605
117,640
309, 465
319, 735
238, 532
239, 608
116, 635
354, 658
387, 600
286 288
286, 755
116, 225
307, 738
414, 165
280, 203
281, 172
115, 310
290, 525
406, 900
296 292
297, 782
113,870
284, 615
395, 050
290, 561
296 460
107, 860
288, 546
393, 160
287, 910
290, 427
105, 230
338, 465
436, 520
299, 097
295, 103
109, 225
279, 128 ' 351, 015 r 311, 555
384, 199 r 475, 400 r 489, 770
281, 526 r 312, 477 >• 296, 203
281, 062 r 310, 190 r 297, 185
109, 689 r i l l , 975 r 110, 990
11.30
11.30
11. 65
11.65
11.78
12.15
12.15
12.53
12.65
12.65
12.65
12. 65
12. 65
286, 588
165,382
291,614
285, 200
86, 475
295, 568
164, 792
296, 312
296, 157
86, 608
312,314
216, 315
258, 575
260, 790
84, 382
300, 665
227, 570
286, 396
289, 407
81, 352
276, 858
227, 700
273, 636
276, 705
78, 265
298, 200
231, 200
292, 751
294, 692
76, 305
281, 340
224, 050
292, 380
288, 472
80, 115
277, 572
215, 870
279, 967
285, 750
74, 240
302, 740
229, 830
293, 119
288, 775
78, 585
r 274, 607
r 227, 800
r 275, 284
* 276, 635
r 77, 233
r 315, 065
r 234, 820
r 306, 009
' 308, 044
r 75, 198
r 291, 445
r 239, 175
' 285, 187
r 287, 090
r 73, 295
308, 000
238, 000
307, 000
309. 000
71, 295
459, 937
479, 560
159, 767
440, 967
440, 777
159, 957
439, 255
463, 339
135, 873
466, 443
417, 589
184, 727
437, 579
485, 165
137, 141
456, 443
465, 253
128,331
456, 743
477, 708
107, 366
430, 551
448, 775
89, 142
453,019
423, 343
118,818
425, 097
400, 833
143, 082
472, 963
473, 503
142, 542
447, 551
443, 288
146, 805
485, 723
486, 340
146, 188
401,922
89, 719
86, 257
376, 482
88, 420
89, 928
336, 759
86, 127
85, 433
346, 795
92, 877
92, 950
373, 788
86, 411
85, 809
420, 786
91, 305
92, 779
407, 943
87, 980
85, 141
398, 309
85, 355
87 776
345, 552
92, 691
92, 991
336, 568
84, 381
84, 896
394, 387
94,015
92, 630
410, 723
88, 888
90, 740
403, 233
96, 420
93 422
9,582
288, 684
94, 187
487, 435
100. 00
8,074
303, 524
78, 935
441, 239
100. 00
8,768
339, 424
93, 140
415, 424
100. 00
8,695
376, 900
81, 095
367, 604
100. 00
9,297
372, 943
94, 271
419, 123
100. 00
7,823
356, 782
88, 332
449, 183
100. 00
10, 662
334, 783
98, 499
385, 659
106. 00
8,241
328, 018
96, 942
418 044
106. 00
7,941
346, 258
93, 866
399. 333
106. 00
7,426
331 , 440
111,019
333, 814
106. 00
8 811
349, 308
95. 893
449, 037
106. 00
6, 959
322, 750
95, 340
396 897
106. 00
9 957
332 601
86, 522
964, 000
395, 500
934, 600
91
945, 400
394, 100
907, 600
94
983, 300 1, 204, 500
524, 400
729, 100
816, 900 1, 017, 300
82
100
6,277
6,232
6,075
7, 653
7,229
7,679
7 289
7 105
7 577
6 618
7 9(55
7 315
7 2S8
513. 8
497.8
540.8
518. 2
586.9
424.1
904. 5
603. 3
745. 0
619.9
731.2
671. 7
710.7
666 1
690.5
668 6
904 1
738 9
875 6
725 8
879 4
851 9
737 7
778 4
699 3
815 4
892
695
197
774
566
208
850
650
200
766
618
148
962
816
146
1 138
877
261
1 028
811
217
1 157
' 915
242
776
601
175
793
613
180
1 130
861
269
878
678
200
969
759
210
44 9999
89 15
69 261
44 586
93 079
92 454
37 572
87 242
54 687
35 335
76 312
63 053
r 39 5Q8
r 71 579
54' 963
42 739
977, 800 1, 039, 000 1, 019, 900
714, 900
694, 700
722, 000
954, 400 1, 023, 400 1, 012, 700
96
102
101
§76, 700 1, 177, 200
617, 200
761,800
940. 500 1,056,600
95
102
305, 000
480. 500
313, 000
314, 000
109, 990
106. 00
987, 900 1,119,300 1, 019, 300 1, 112, 100
646, 900
704, 900
758, 600
658, 700
975, ICO 1, 107. 300 1,049,100 1, 128 200
104
/ 105
104
105
PRINTING
Book publication total
New books
New editions
_
number of editions
do
do
RUBBER AND RUBBER PRODUCTS
RUBBER
Natural rubber:
Consumption
long tons
Stocks, end of month
do
Imports, including latex and guayule_. _ _ - d o _ Price, wholesale, smoked sheets (New York)
dol. per lb__
Chemical (synthetic):
Production
long tons
Consumption _ _
do
Stocks, end of month
do
Exports
do
Reclaimed rubber:
Production
do
Consumption
do
Stocks, e n d o f month___ _ _ _ _ _ _ _
do
63, 813
100 776
60, 187
63, 333
99 457
77, 876
61, 402
93 653
62, 004
64 297
87 146
72, 703
61 281
87 409
61, 153
69 178
83 215
78, 740
51 340
81 658
73 393
.286
.309
.384
.521
.558
.638
.732
.714
.735
.734
.722
.675
37 320
46, 398
74 524
646
38 569
48, 608
65 346
634
43 820
43, 687
67 085
724
43 950
50 379
63 654
631
44 460
49 550
59 059
645
44 690
54 507
51 751
678
48 417
48 261
51 636
581
52 199
53 364
52 758
749
56 415
53 308
59 035
65 286
65 587
60 614
533
r QQ 414
24, 876
24 158
27 837
25 869
25 253
28 470
24 374
22 377
30 371
27 312
26 151
31 793
29 648
29 250
33 395
32 685
32 785
33 530
30 171
30 260
33 960
32 480
29 905
35 708
60 952
58 584
55 453
577
39 994
32 455
35 843
30 402
28 792
36 885
35 094
32 678
38 334
r 34 293
r 32 428
r 39' 064
8 613
8,502
3 119
5,280
103
12 367
94
8 455
10 171
4 056
6,003
111
10 792
94
8 297
12 002
3 884
8,011
106
7 004
'173
8 194
10 579
4 093
6,369
116
7 833
8 216
3 813
4,292
6 764
6 961
3' 035
3,812
114
5 007
fi finq
4 374
1107
7 521
7 494
3 214
4,130
150
A 01 n
1
152
6 819
7 562
3 245
4,188
129
175
8 667
8*684
3 783
4,750
151
4 382
1 108
7 015
6 755
12 110
48
7 458
8 544
11 946
55
6 936
9 738
8 422
33
7 263
9 257
6 619
33
7 093
7 586
6 198
50
7 886
7 070
6 400
68
6 629
non
r 58 787
r (55 793
585
68 923
. 660
70 541
66 267
72 108
34 866
34 907
38 (528
TIRES AND TUBES
Pneumatic casings:
Production
__
Shipments, total
Original equipment
Replacement equipment
Export
Stocks, end of month
Exports
_
Inner tubes:
Production _ _ _
Shipments __
__
Stocks, end of month
Exports
thousands
do
do
do
do
do
do
__
do
do
do
do
4 794
r \\\
a AQQ
G Ofiq
109
a 7Q4
q KKO
a noK
S QKfl
1
1116
&
6
Q7Q
7or
77
5
99
6 174
3 no 9
3,058
KAf\
6
7
OOK
q f\OA
r Q 255
r 9 7^
R 7<?n
3,493
r
3,911
3, 413
00
1 93
q QA7
1 7Q
1 120
i J06
r
rp.fl
QCO
CO
Oft
CO
r
Revised.
1 Excludes "special category" exports not shown separately for security reasons.
*i T^^Jnrn0^ 1937~48 (Incl. Newfoundland) are shown on pp. 22 and 23 of the May 1950 SURVEY. Further revisions for stocks at mills, end of December, are shown at bottom of p. S-37 of
the June 1950 SURVEY.
fRe vised data for 1948-49 will be published later.
SUKVEY OF CURRENT BUSINESS
S-38
July 1051
1951
1950
Unless otherwise stated, statistics through
1948 and descriptive notes are shown in the
1949 Statistical Supplement to the Survey
June
May
July
August
September
October
November
December
January
February
March
April
May
179, 507
191, 138
STONE, CLAY, AND GLASS PRODUCTS
ABRASIVE PRODUCTS
Coated abrasive paper and cloth, shipments reams. . 165, 746
165, 781
151, 278
258, 575
206, 809
197, 500
177,371
155, 823
189, 440
184, 326
206, 940
20, 001
93
24, 749
20, 709
94
23, 167
12, 848
21, 884
99
25, 144
20, 945
98
22,461
20, 226
95
19, 116
87
12, 477
17, 433
79
12, 237
18, 222
15, 201
76
11, 294
22, 127
7,097
18, 708
82
17, 692
23, 139
8. 036
20, 184
91
20, 953
' 22, 363
' 8, 194
480, 607
470, 730
422, 134
408, 766
534, 077
550, 274
553, 468
552, 881
PORTLAND CEMENT
Production
Percent of caoacity
Shipments
Stocks, finished, end of month..
Stocks, clinker, end of month
19, 941
90
22, 834
20, 050
8,142
thous. of bbl__
thous. of bbl__
do
do
15,298
7,346
6,388
102
24, 167
5, 945
22,910
7,642
4,029
9,608
4,900
19,791
6,382
2,962
2,852
13,018
3,925
5,473
21, 925
96
24, 894
19, 394
7,456
CLAY PRODUCTS
Brick, unglazcd:
Production!
thous of standard brick
Shipment'5!
do
Price, wholesale, common, composite, f. o. b. plant
dol. per thous..
Clay sewer pipe, vitrified:
Production!
short tons
Shinment^!
do
Structural tile, umrlazed:
Production!
do
Shipments!
do
•• 568, 727
«• 611, 661
*r 594, 060 r 578, 226 «•T 646, 626
649, 930 r 599, 337
675, 227
24. 721
24. 475
25. 032
r
' 117, 787 119,729
128, 405 f 127, 351
'r 118, 564 r 11.9. 340
125, 376 r 136, 438
25.866
26. 057
26. 378
26. 549
26. 589
26. 602
26. 588
155. 678 ' 154, 904 «• 131, 668
' 152, 847 r 156, 610 r 129, 489
r 127, 951
r 114, 439
137, 211
124, 503
122, 046
96, 487
139, 653
125, 328
142, 356
134, 777
105, 879 r 95,265
' 104, 304 r 85,471
108, 816
103, 293
98, 593
89, 645
110, 146
108, 738
105, 268
108, 653
9,321
9,153
10, 279
9,201
10, 987
10, 250
11,075
9,583
25. 208
' 127, 021 r 144, 680 'r 136, 780 rr 154. 284
163, 664
' 148, 458 ' 160, 686 153, 788
r
»• 604, 826 '
659, 927 ' 606, 726 r 499, 694
' 630, 472 r 660, 309 r 590, 905 r 450, 800
25. 616
r
r
r
115,975
120, 108
r
r
119, 729
119, 054
r
26. 591
GLASS PRODUCTS
Glass containers:
Production
thous. of cross..
Shipments, domestic, total _
do _.
General-use food:
Narrow -neck food
._ _do_
Wide-mouth food (incl. packers' tumblers)
thous. of cross ..
Beverage (returnable and nonreturnable)
thoUS. Of gl'OSS-Beer bottles
do
Liquor and wine
do
Medicinal and toilet __
_.
_do^
Chemical, household and industrial
do
Dairy products
_ _
_ _
do
Fruit jars and jellv glasses
do
Stocks end of month
do
Other .classware, machine-made:
Tumblers:
Production
thous. of dozens
Shipments
-- do
Stocks
do
Table, kitchen, and householdware, shipments
thous. of dozens.,
9,377
9,371
9,125
9, 045
8,870
9,141
9,133
11, 132
8,673
10, 437
10,612
8,967
9,451
8,104
9,499
8,563
10, 849
10, 390
1,274
819
844
1,170
1,572
953
669
786
835
931
1,116
1,067
999
2,217
2,375
i 2, 476
3,204
2,672
* 2, 474
i 2, 145
1 2, 272
i 2, 410
1 2, 129
i 2, 472
i 2, 332
i 2, 666
841
632
1,064
715
845
700
1,095
1,909
492
669
1,551
2,501
305
582
1, 343
340
563
1,275
325
459
1,257
2, 235
654
532
1,317
457
450
1,543
345
541
1,425
2,183
447
978
1,302
617
1,190
803
1,468
993
2,158
730
272
253
908
1,849
724
280
312
1333
8,931
819
385
342
6,743
2,576
822
369
197
4,865
6,548
7,222
5,925
6,070
649
290
9,714
9, 382
6,591
6, 223
10, 237
8,719
5,209
5,264
8,667
8,091
3,394
3,117
2.530
3,671
5,635
5,699
2,228
779
354
6,776
2,637
844
324
0)
7,240
5,876
5,702
6,959
9,593
9,887
6, 831
9, 602
3,313
3,218
3, 667
6,123
687
327
0)
7,079
6,994
0)
5, 498
8,118
8,877
3,356
3,846
6,107
2,397
791
404
0)
5, 253
724
285
1
C)
7,631
6,506
2,740
883
313
C1)
8,091
7,570
931
880
2,426
878
271
2, 389
823
235
0)
9,293
0)
9,426
7,292
7,534
6,132
9,940
7,156
10, 340
6,851
10, 933
11,381
3,364
3, 998
3,439
3,408
6. 760
GYPSUM AND PRODUCTS
Crude gypsum, quarterly total:
Imports
thous of short tons
Production
do
Calcined production quarterly total
do
Gypsum products sold or used, quarterly total:
Uncalcined
short tons
Calcined:
For building uses:
P>asc-coat plasters
do
Kecne's cement
do
All other building plasters
do
Lath
thous of sq ft
Tile
do
Wallboardcf
do
Industrial plasters
short tons
704
1,923
1,769
1,105
2 199
2,049
967
2, 355
1, 950
613
2, 102
1,838
549, 472
580, 024
626, 833
660, 470
584, 766
13, 642
136, 521
666, 876
10, 765
725, 128
693 948
595, 988
15, 200
147, 409
754, 849
807, 734
512, 238
14, 328
137, 878
710, 197
10, 002
849, 933
61, 725
66, 674
74, 208
73, 186
15 863
156 429
761, 573
13, 449
759, 260
12,012
i
i
TEXTILE PRODUCTS
CLOTHING
Hosiery:
Production
thous. of dozen pairs __
Shipments
do
Stocks, end of month
do _
12, 577
11, 148
26, 794
12, 520
11,918
28, 613
10, 295
11, 429
27, 480
14, 986
16, 584
25, 882
14, 194
15, 590
24, 486
14, 874
15, 791
23. 569
15, 000
14, 796
23, 774
12,817
11, 842
25, 456
14, 971
14, 637
25, 789
14, 337
14, 601
25, 526
14, 736
14, 621
25, 642
13, 149
11,905
26, 886
12, 925
10. 985
28 826
COTTON
Cotton (exclusive of linters) :
Production:
2
Ginnings§
thous. of running bales _ _
283
864
2,770
6,459
9,200
8,793
9,678
9, 908
Crop estimate, equivalent 500-lb. bales
2
thous. of bales..
10,012
Consumption^
bales
606, 878 807, 840
968, 484 835, 155 1,008,872
784, 057 1 040 891 894 602
718, 826
841, 868
980 906
911 654
832, 612
Stocks in the United States, end of month,
7,463
6,846
9, 159
15, 087
13, 771
12, 681
11,366
10, 174
total^I
thous of bales
8 681
7 852
5 059
6 373
3 786
7,355
6,749
9,038
15, 001
13, 695
10, 117
7,764
Domestic cotton, total
do
12,613
11,311
8,638
3 667
6 261
4 957
642
1,024
On farms and in transit
do .
350
9,374
7, 643
2,538
1, 512
792
4,816
278
881
388
60
6,484
5,161
5,357
Public storage and compresses
. do
6,984
4,545
6,651
2,406
4,871
5,626
4,603
1,586
3, 560
6,358
1,529
1,356
Consuming establishments
do
1,082
2,274
1,238
1,789
1,955
2 313
2 021
2,281
1 181
1 439
2 220
121
Foreign cotton, total
do
108
102
98
86
76
68
54
57
44
88
102
118
r
1
2
Revised.
Data for wide-mouth food containers include jelly glasses in July 1950, and both jelly glasses and fruit jars beginning October 1950.
Total ginnings of 1950 crop.
! Data revised for 1950. Revisions for January-April will be shown later.
cf Includes laminated board, reported as component board.
§ Total ginnings to end of month indicated.
1 Data for June, September, November 1950 and January and April 1951 cover 5-week periods and for other months, 4 weeks; stock data are for end of period covered.
SURVEY OF CUEKENT BUSINESS
July 1951
Unless otherwise stated, statistics through
1948 and descriptive notes are shown in the
1949 Statistical Supplement to the Survey
S-39
1951
1950
May
June
July
August
September
October
November
December
January
February
May
March
April
354 302
3 114
42 7
480 085
9 740
43.2
42.5
45 1
45 2
45.2
115
36
398
TEXTILE PRODUCTS—Continued
COTTON—Continued
Cotton (exclusive of linters) — Continued
Exports
bales
Imports
do
Prices received by farmers
cents
per
Ib
Prices, wholesale, middling, ir]ie", average, 10
markets
cents per Ib
Cotton linters :^f
Consumption
thous. of bales
Production
_ _
do
Stocks end of month
do
539, 105
2,513
29.2
740, 533
1,490
29.9
264 982
2,332
33.1
355 975
4,730
37.0
372 381
22, 732
40.0
283 816
11,889
38.9
371 870
9 118
41. 1
448 561
6 407
40.4
316 626
2,342
41.3
32.9
33.8
37.1
38.1
40.7
39.8
42.2
42.6
44.2
'139
78
546
138
58
610
112
49
436
149
68
340
124
132
337
129
207
409
118
189
461
110
145
518
116
151
542
110
105
542
125
77
517
111
52
468
51, 428
5,042
2,401
52, 322
4,596
35 935
1,905
45, 633
2,918
2,398
50, 973
2,570
50, 162
2,796
45 715
4,608
2,639
53 549
3, 593
57, 472
4,948
57 643
10 223
2 835
79 574
7 486
73 942
3 950
31.74
30.3
14.2
17.2
31.66
31.8
15.1
17.2
35.96
32.6
17.5
18.5
43.58
34.5
19.8
21.8
48.69
36.0
22.4
23.8
49.36
36.4
21.5
24.5
48.39
37.8
21.9
24.8
50.21
38.3
22.5
25.0
50.12
38.3
22.9
25.0
(i)
49 80
45 60
.602
.778
.605
.786
.671
.840
.776
.925
.833
1.007
.851
1.072
.877
1.147
.887
1. 166
.917
1.172
21, 458
20, 229
9, 467
473
8,935
128.1
21, 474
20, 221
11,076
452
10, 435
123.0
21, 794
20 525
7, 754
408
7, 284
110.9
21, 845
20, 540
10, 333
517
9,711
140.2
21, 945
20, 609
12, 638
516
11,860
139.7
22, 149
20, 758
10, 713
542
10, 041
146.9
22, 153
20, 751
12, 979
530
12, 171
143.2
22, 084
20, 730
9,942
523
9, 376
141.3
76.8
25.5
78.0
24.5
79.7
25 8
85.1
27.6
79.0
25.5
82.5
25.4
80.5
25.6
86.9
29.4
15.6
5.5
8, 076
3.9
2.8
7,323
6 653
7,463
8,960
.710
.350
.710
.350
.732
.740
.370
428 599
93 800
41 8
(i)
COTTON MANUFACTURES
Cotton cloth:
Cotton broad-woven goods over 12 inches in width,
production, quarterly
mil. of linear yards
Exports
thous of sq. yd
Imports
do
Prices, wholesale:
Mill margins^
cents per Ib
Denim, 2 8-inch
cents per yd__
Print cloth, 38^-inch, 64 x 60
do
Sheeting, unbleached, 36-inch, 56 x 60 do
Cotton yarn, Southern, prices, wholesale, mill:
22/1, carded, white, cones
dol. per l b _ _
40/1, twisted, carded, skeins
___ do _.
Spindle activity (cotton system spindles):^
Active spindles, last working day, total__thous__
Consuming 100 percent cotton
do
Spindle hours operated, all fibers, total.mil.of hr_.
Average per working day cf
do
Consuming 100 percent cotton
do
Operations as percent of capacity
0)
(i)
23.0
25 0
20.6
25 0
42.57
39.4
19.4
25.0
.921
1 176
.921
1. 176
.921
1.176
.915
1.176
22, 292
20, 900
13, 273
542
12, 459
145.9
22, 221
20 885
11, 069
563
10 394
159 o
22, 246
20 957
11, 083
554
10 436
149 7
21, 134
19 903
12, 447
505
11 699
136 4
21, 770
20, 516
10, 399
533
9,768
144.1
79.0
25.7
75.0
25 0
85.9
27 0
38 3
23 0
25 0
RAYON AND MANUFACTURES AND SILK
Rayon yarn and staple fiber:
Consumption :
Filament varn.. ___ .
mil. o f l b . _
Staple fiber
do
Stocks, producers', end of month:
Filament yarn
do
Staple fiber
__ _
do__
Imports
thous. of Ib
Prices, wholesale:
Yarn, viscose, 150 denier, first quality, minimum filament .
_ dol. per Ib
Staple fiber, viscose, 1*4 denier
do
Rayon broad-woven goods, production, quarterly
thous. of linear yards
Silk, raw:
Imports
thous. of l b _ _
Price, wholesale, Japan, white, 13/15 (N. Y.)
dol. per l b _ _
WOOL
Consumption (scoured basis) :§
Apparel class
thous. of Ib
Carpet class
do
Imports
do
Prices, wholesale, Boston:
Raw, territory, 64s, 70s, 80s, scoured.. dol. p e r l b _ _
Raw, bright fleece, 56s, greasy, 47 percent shrinkage
dol. per Ib
Australian, 64s, 70s, good topmaking, scoured, in
bond
dol per Ib
14.4
5.9
13 1
4.6
355
10.5
551, 842
r
80 0
26 9
81.5
28 8
10 8
12 958
11, 845
12, 075
10 5
38
8 581
8 4
4. ()'
7 373
r 10 1
3.5
6.1
2.0
10.3
3.7
12, 457
.760
.370
.760
.370
.770
.400
.780
.400
.780
.400
.780
780
400
10.0
10. 5
. 755
.370
11 2
r
569, 460
C02, 000
705
744
1, 033
902
1,307
1,500
1,152
727
2.68
2.68
3.05
3.42
3.40
3.51
3.72
4.11
32, 468
16 204
54, 879
39, 765
18 445
55, 249
28 816
9 608
68 773
38, 948
15, 768
74, 833
44, 390
18 360
56, 832
38 004
16 704
49 254
38? 695
18 380
51 584
28 896
14 364
42 Q94
1.698
.620
1.760
.678
1.800
.702
2.045
.778
2.481
.892
2.469
.909
2.540
.973
1.715
1.775
1 775
1 965
2.725
2 515
3 2 560
3
3.8
r
3 6
8 770
400
4.6
.780
400
p 630 000
628
748
2
2
5.35
40 255
16 5Q0
73 139
5. 62
576
2
499
2
5. 62
29. 656
13 248
50, 179
27 944
12 716
66 761
5. 21
2 4. 58
74 701
3
2. 650
3 1. 131
3
3
3. 340
1. 420
3
3
3. 600
1. 535
3 3. 750
1. 564
3
3. 338
1.325
3. 130
1.236
3 2 600
3 3 240
3
3 450
3 3 ooo
3 3 275
3 3 010
WOOL MANUFACTURES
Machinery activity (weekly average) :§
Looms:
Woolen and worsted:
105
102
87
86
119
145
Pile and Jacquard
thous. of active hours._
106
70
133
136
153
2, 346
1,984
2,391
Broad
_
__ _
do
2,188
2,214
2 346
2 272
1,933
2,502
2,275
1 856
18
27
25
Narrow
do
13
30
20
26
17
15
23
Carpet and rug:
160
Broad
_ __ _
do
159
172
172
164
162
163
160
101
177
168
82
81
51
83
Narrow
do
76
92
86
85
87
85
88
Spinning spindles:
Woolen
_ ___
do
96, 134
85, 662
87, 513
85,011
78, 103
74, 410
76,
973
76, 483 4 78, 464
91,915
73
745
4
115, 284
115, 302
101, 863
4 90 278
Worsted
_ _
do
120, 695
102,418
110 948
85, 975
95, 260
102 780
108 779
191
227
Worsted combs
_ do__
233
191
187
194
167
233
164
176
139
Wool yarn:
4
4
81,815
Production, total§. .
thous. of Ib
63, 320
69, 848
69, 736
77, 555
76, 480
59, 664 4 77, 785
51, 064
60, 268
58, 188
6,784
8,384
9, 585
Knitting^
.
do
5 964
7 832
8, 725
8 105
6 084
8 300
6 696
6 500
44, 796
52, 970
40, 012
49, 380
44, 180
Weaving!
. __do
48 075
34 860
37 480
48 440
36 228
34 832
4
4
4
Carpet and other§..
__do.
16. 524
16, 668
19, 260
20, 300
19, 450
10, 240
17, 724
21 045
17, 344
16, 100
16 856
Price, wholesale, worsted yarn (Bradford
weaving system) 2/32s
dol. perlb__
2.975
2.975
2.975
2.975
3.665
4.175
4.125
4.175
4.754
r
1
2
Revised.
? Preliminary.
No quotation, markets closed.
Substituted series. Data
beginning January 1951 represent a composite wholesale price for raw silk, Japan, white,
4
20-22 denier, 87 percent, AA grade tested; December 1950 quotation, $4.55.
"4.55.
3 Nominal price.
Includes operations on the American system, not requested on reporting schedules prior
to 1951, as follows (average for the first 3 months of 1951): Looms, 7,289,000 active hours; yarns spun, 1,498,000 pounds.
tData for June, September, November 1950 and January and April 1951 cover 5-week periods and for other months, 4 weeks; stock data and number of active spindles are for end of period
covered.
{Scattered monthly revisions beginning 1944 (to incorporate new quotations for two constructions previously included at OP A ceiling prices) are available upon request.
cf Substituted series. See note marked "cT" at bottom of p. S--39 of the July 1950 SURVEY.
§ Data for June, September, November 1950 and January 1951 cover 5-week periods; other months, 4 weeks.
SUEVEY OF CUREENT BUSINESS
S-40
Unless otherwise stated, statistics through
1948 and descriptive notes are shown in the
1949 Statistical Supplement to the Survey
July 1951
1951
1950
June
May
July
August
September
October
November
December
January
February
March
April
May
TEXTILE PRODUCTS—Continued
WOOL MANUFACTURES—Continued
Woolen and worsted woven goods, except woven
felts:
Production, quarterly, total
tbous. of lin. yd
Apparel fabrics, total
do
Government orders
do
Other than Government orders total do
Men's and boys'
do
Women's and children's
do
Unclassified
do
Blanketing
do
Other nonapparel fabrics
do
Prices, wholesale, f. o. b. mill:
Suiting, unfinished worsted, 13 oz dol. per yd__
Women's dress goods, flannel, 8 oz., 54-inch
dol. per yd__
111, 647
92, 890
1,843
91, 047
45, 709
40, 079
5,259
6, 555
115, 875
i 296, 743
1, 269
*92 849
41, 093
47, 294
4,462
6 282
12, 850
12, 202
122, 520
i 101,140
2
4, 418
r2
93, 272
43, 397
45, 336
4, 539
6 664
14, 716
102, 320
1
85, 608
2
9, 517
r2
72 264
38 016
34, 080
168
6 231
10 481
2.970
3.094
3.255
3.440
4.084
4.306
4.306
4.306
4.306
2.475
2.475
2.524
2.624
2.772
2.846
2.846
2.846
2.846
3.514
3.514
(3)
3.302
TRANSPORTATION EQUIPMENT
AIRCRAFT
Civil aircraft, shipmentscf
ExportsJ
number
do
377
68
369
47
321
94
354
48
301
84
204
40
242
54
305
85
255
114
239
60
273
78
696, 893
412
323
575, 518
563, 119
120, 963
108, 997
856, 615
598
349
720, 688
702, 935
135, 329
120, 233
706, 702
397
291
595, 067
581, 069
111,238
98, 603
818, 123
457
374
682, 782
669, 550
134, 884
121, 303
722, 842
423
345
616,827
602, 423
105, 592
93, 378
760, 566
553
502
651, 169
635, 544
108, 844
97, 116
603, 567
584
507
504, 445
490, 855
98, 538
80, 832
640, 925
664
601
521, 371
507, 120
118, 890
103, 522
606, 833
661
631
478, 589
459, 567
127, 583
109, 262
618, 321
521
483
505, 865
481, 239
111,935
r
94, 834
755, 022
829
792
617, 399
588, 435
136, 794
118, 235
24, 807
12, 775
12, 032
24, 927
11, 286
13, 641
22, 724
10, 906
11,818
23, 070
12, 399
10, 671
27, 546
13, 826
13, 720
23, 976
11, 481
12, 495
28, 589
12, 439
16, 150
35, 580
19, 382
16, 198
4
4
4
4
4
4
4
4
4
4
4
4
4
4
4
4
4
4
4
4
4
4
4
247
64
MOTOR VEHICLES
Factory sales, total _
Coaches total
Domestic
Passenger cars, total
Domestic
Trucks total
Domestic
_ _ number _
do
- -do__ _
do
do
do
do
r
' 639, 272
819
764
' 503, 038
' 475, 316
135, 415
r 117, 483
652, 868
742
704
512, 076
482, 394
140, 050
121, 464
Exports, totalt
Passenger cars
Truckst
do
do
do
20, 387
8,631
11, 756
25,150
12, 979
12, 171
Truck trailers, production, total
Complete trailers
Vans
Ml other
"
Chassis shipped as such
Registrations:
New passenger cars
New commercial cars
do
do
do
do
do
4,867
4, 650
2,782
1,868
217
5, 532
5, 337
3,203
2,134
195
203
7, 102
6, 809
3, 950
2,4 859
293
do
do
488, 363
90, 786
583, 937
91,512
609, 926
117, 040
683, 995
126, 533
625, 755
113, 750
580, 373
101, 169
444, 193
84, 142
552, 259
89, 273
472, 766
88,058
430, 797
78, 581
512, 599
86, 287
467, 313
84, 961
470, 446
90,627
2,193
1,211
1,211
982
113
113
113
0
4,074
3,365
3,165
709
106
106
106
0
3,474
2,148
2,148
1,326
94
93
93
1
5,203
2,787
2,787
2,416
104
102
102
2
5,131
2,395
2,395
2,736
70
63
63
7
5,501
2,444
2,444
3,057
71
71
71
0
5,791
3,352
3,352
2,439
58
58
58
0
5,701
3,966
3,965
1,735
54
54
54
0
5,949
4,405
4,405
1,544
26
26
21
0
5,842
4,514
4,514
1.328
19
19
12
0
7,011
4,966
4,966
2,045
19
7
7
12
8,274
5,781
5,781
2,493
29
17
8
12
9,775
7,198
7,198
2,576
23
17
6
6
1,728
1,724
1,722
1,719
1,719
1,717
1,717
1,718
1,719
1,721
1,722
1,727
1,731
128
7.4
40, 405
24, 338
16, 067
118
6.9
39, 360
21, 936
17, 424
123
7.1
62, 124
37, 342
24, 782
108
6.3
76, 582
48,220
28, 362
102
5.9
94, 557
63, 485
31,072
98
5.7
107, 994
76, 279
31,715
93
5.4
110, 781
79, 493
31, 288
89
5.2
109, 174
78, 137
31, 037
86
5.0
126, 438
91,431
35, 007
84
4.9
135, 936
96, 658
39, 278
82
4.8
137,349
98, 625
38, 724
87
5.0
138, 319
94, 837
43, 482
89
5.1
134, 348
91, 775
42, 573
3,217
11.9
3,086
11.7
3,166
12.1
3,239
12.4
3,218
12.4
3,135
12.3
3,111
12.2
3,114
12.3
3,257
13.0
3,283
13.1
3,317
13.3
3,290
13.3
3,077
12.7
9
0
9
1,000
1,000
0
23
0
23
977
977
0
22
0
22
1,110
1,110
0
21
0
21
1,367
1,367
0
20
0
20
1,419
1,419
0
19
0
19
1, 504
1,504
0
17
0
17
1,640
1,640
0
16
0
16
1,628
1,628
0
21
0
21
1,620
1,620
0
21
0
21
1,631
1,631
0
20
0
20
1,863
1,863
0
18
0
18
1,737
1,737
0
16
0
16
1,823
1,823
0
81
3
78
48
5
43
69
10
59
53
8
45
61
8
53
56
0
56
32
1
31
47
4
43
37
4
33
27
1
26
34
0
34
52
1
51
203
183
20
268
238
30
199
177
22
237
216
21
263
234
29
290
255
35
242
218
24
291
271
20
440
393
47
461
398
63
595
519
76
397
354
43
5, 798
5, 605
3, 316
4 2, 289
4
193
6, 614
6, 435
3, 735
2,4 700
179
6, 770
6, 533
3, 944
2,4 589
237
6, 741
6, 504
3, 969
2, 535
4
237
6, 366
6, 124
3, 937
2,4 187
242
6, 257
6, 077
4, 106
1,4 971
180
4
4
4
4
6, 483
6, 265
3, 952
2,4 313
218
r4
r 4
4
6, 044
5, 841
3, 669
r 4 2, 172
4
41, 646
22, 493
19, 153
42, 675
25, 010
17, 665
4
4
4
4
4
4
4
4
6, 351
5, 999
3, 459
2,4 540
352
RAILWAY EQUIPMENT
American Railway Car Institute:
Shipments:
Freight cars, total
number-Equipment manufacturers, total _ __ do
Domestic
do
Railroad shops, domestic
do
Passenger cars, total
do
Equipment manufacturers, total
do
Domestic
do
Railroad shops, domestic
do
Association of American Railroads:
Freight cars (class I), end of month :§
Number owned
thousands
Undergoing or awaiting classified repairs
thousands-Percent of total ownership
__ _
Orders, unfilled
number. _
Equipment manufacturers
do
Railroad shops
_ - _ . _ _ _
do
Locomotives (class I), end of month:
Steam, undergoing or awaiting classified repairs
number. .
Percent of total on line
_
_ __
Orders, unfilled:
Steam locomotives, total
number-Equipment manufacturers
do_
Railroad shops
do
Other locomotives, total
do
Equipment manufacturers
do
Railroad shops __ _ _ _
do
Exports of locomotives, total
Steam
Other
INDUSTRIAL
__
do
do
do
ELECTRIC TRUCKS AND
TRACTORS
Shipments total
Domestic
Export
--
number
do
do
464
420
44
* Revised.
evse.
i Includes yardage, containing from 25 to 50 percent2 wool, not distributed between government and nongovernment orders as follows (thousands
of linear yards) : 1950, third quarter,
4
2,625; fourth quarter, 3,450; 1951, first quarter, 3,827.
Not comparable with data through first half of 1950; see note 1.
3 NO quotation.
Beginning July 1950, the industry coverage has
teen increased by approximately 6 percent.
cf Publication of data for military shipments and the total, formerly shown here, has been discontinued by the Civil Aeronautics Administration.
tExcludes "special category" exports not shown separately for security reasons.
§Not including railroad-owned private refrigerator cars.
"INDEX TO MONTHLY BUSINESS STATISTICS, Pages S1-S40Pages marked S
Abrasive paper and cloth (coated)
38
Acids
24
Advertising
7, 8
Agricultural income and marketings
2
Agricultural wages, loans
15
Aircraft
11,12,14,40
Airline operations
22
Alcohol, denatured and ethyl
24
Alcoholic beverages
2, 27
Aluminum
33
Animal fats, greases
25
Anthracite
2, 5, 11, 13, 14, 15, 34
Apparel, wearing
4, 5, 8, 9, 11, 12, 14, 15, 38
Armed forces
10
Asphalt and asphalt products
36
Automobiles
. 2, 3, 7, 8, 9,11, 12, 13,14, 18, 21
Balance of payments
20
Banking
15,16
Barley
28
Barrels and drums
32
Battery shipments
34
Beef and veal
,
29
Beverages, alcoholic
— 2,8,27
Bituminous coal
2, 5, 11, 13, 14, 15,34,35
Boilers
33,34
Bonds, issues, prices, sales, yields
,__
19
Book publication.
37
Brass
.
33
Brick
. 5,38
Brokers' loans
16,19
Building construction (see Construction).
Building contracts awarded
6
Building costs
7
Building materials, prices, retail trade
5,7,8,9
Business, orders, sales, inventories
3,4
Businesses operating and business turn-over __
4
Butter
27
Candy
29
Cans, metal
33
Capital
flotations
18,19
Carloadings
22, 23
Cattle and calves
29
Cement
2, 5,38
Cereal and bakery products, price
5
Chain-store sales
9
Cheese
.
27
Chemicals
2,3, 4, 5, 12, 14, 15, 18, 21, 24
Cigars and cigarettes
30
Civil-service employees
12
Clay products (see also Stone, clay, etc,)
2.38
Clothing.
5,6,8,9,11,12,14,15,38
Coal
2, 5, 11, 13, 14, 15, 34, 35
Cocoa
29
Coffee
22,29
Coke
2,35
Commercial and industrial failures
4
Construction:
Contracts awarded
6
Costs
7
Dwelling units started
7
Employment, wage rates, earnings, hours. _
11,
12,13,14,15
Highway
6,12
New construction, dollar value
6
Consumer credit
16
Consumer expenditures
1, 8
Consumers' price index
5
Copper
21,33
Copra and coconut oil
25
Corn
19,28
Cost-of-living index (see Consumers' price
index)
5
Cotton, raw, and manufactures
2, 5, 6, 21, 38, 39
Cottonseed, cake and meal, oil
25
Crops
2,5,25,27,28,30,38
Currency in circulation
...
18
Dairy products
Debits, bank
Debt, short-term, consumer
Debt. United States Government
Department stores
Deposits, bank
Disputes, industrial
Distilled spirits
Dividend payments and rates
Drug-store sales
Dwelling units started
„
2, 5, 14, 27
15
16
17
9, 10, 16
15,16,18
13
27
1,18, 20
,
8,9
7
Earnings, weekly and hourly
13,14,15
Eggs and poultry
2, 5, 29
Electric power, production, sales, revenues....26
Electrical equipment
3, 4, 7,34
Employment estimates
10,11,12
Employment indexes
12
Employment security operations
13
Emigration and immigration
23
Engineering construction
6
Expenditures, United States Government
16
Explosives
25
Exports (see also individual commodities)
21
Express operations„
22
Factory employment, payrolls, hours, wages. __
11,
12,13,14,15
Failures, industrial and commercial
4
Farm income and marketings
2
Farm products, and farm prices
2,5
Farm wages
15
Fats and oils
5,25,26
Federal Government,
finance
16,17
Federal Reserve banks, condition of
15,16
Federal Reserve reporting member banks
15,16
Fertilizers
5,24
Fiber
products.-34
Fire losses
7
Pages marked S
25,29
25
31,32
28
2,
3,4, 5, 7, 8, 9, 11, 12, 14, 27, 28, 29, 30
Footwear.
2,5,8,9, 12, 14,15,31
Foreclosures, real estate
7
Foreign trade, indexes, shipping weight, value
by regions, countries, economic classes, and
commodity groups
21, 22
Foundry equipment
34
Freight carloadings, cars, indexes
22,23
Freight cars (equipment)
40
Freight-car surplus and shortage
23
Fruits and vegetables
2, 5, 21, 27
Fuel equipment and heating apparatus
33,34
Fueloil____
_
35
Fuels
2,5,35
Furs
22
Furnaces
34
Furniture
2,5,8,9,11,12,13,14
Gas, customers, sales, revenues
26
Gasoline
36
Glass and glassware (see also Stone, clay, etc.)_ 2,38
Generators and motors
34
Glycerin
24
Gold _ __ _ _ _ „
18
Grains
5, 19,21,28
Gross national product
1
Gypsum
38
Heating and ventilating equipment
33,34
Hides and skins
_._ 5,22,30
Highways
6, 7
Hogs
29
Home Loan banks, loans outstanding
7
Home mortgages
7
Hosiery
6, 38
Hotels
11,13,14,15,23
Hours of work per week
.
12,13
Housefurnishings
5, 8, 9
Housing
5, 6, 7,8
Immigration and emigration
23
Imports (see also individual commodities)
21,22
Income, personal
1
Income-tax receipts
16
Incorporations, business, new
4
Industrial production indexes
2,3
Instalment loans
.
16
Instalment sales, department stores
10
Insulating materials
34
Pages marked S
Plant and equipment expenditures....
..
1
Plastics and resin materials, synthetic....
26
Plywood
1.
31
Population
.
. 10
Pork
29
Postal business..
8
Postal savings
..
16
Poultry and eggs
2, 5, 29
Prices (see tlso individual commodities):
Consumers'price index
.
5
Received and paid by farmers . .
. ..
5
Retail price indexes
.
5
Wholesale price indexes
•.
.
5,6
Printing
2, 3, 4,11,12,15,37
Profits, corporation
..'
18
Public utilities
1, 5,11,13,14,15,17,18,19, 20
Pullman Company
23
Pulpwood.
36
Pumps
34
Purchasing power of the dollar
6
Radio advertising
.
7
Railways, operations, equipment,financialstatistics, employment, wages
1,
11,12,13,14,15,17,18,19,20,22,23,40
Railways, street (see Street railways, etc.)*
Rayon and rayon manufactures
. . 2,6,39
Real estate
.
7
Receipts, United States Government
16
Reconstruction Finance Corporation, loans
17
Refrigerators
j.
34
Rents (housing), index
5
Retail trade, all retail stores, chain stores, department stores, mail order, rural sales, general merchandise
3,4,8,9,10
Rice.
1
28
Roofing and siding, asphalt
36
Rosin and turpentine
24
Rubber, natural, synthetic, and reclaimed,
tires and tubes
__
,
22,37
Rubber industry, production index, sales, inventories, employment, payrolls, hours,
earnings
2,3,4,12,14,15
Rye.__
28
Saving, personal
1
Savings deposits
16
Securities issued
18.19
Service industries
8,11
Sewer pipe, clay
38
Sheep and lambs
._
29
Shipbuilding
j
11,12,13,14
Shoes
2, 5, 8, 9,12,14,15, 31
Shortenings
26
Insurance, life__
17,18
Silk, imports, prices
6, 22,39
Interest and money rates.
16
Silver
18
International transactions of the U. S
20, 21, 22
Skins
.
„
5,22,30
Inventories, manufacturers' and trade
3,9,10
Slaughtering and meat packing
2,
Iron and steel, crude and manufactures
2,
11,12,14,29
3,4,6,11, 12,13, 14,21,32,33
Soybeans and soybean oil
25
Spindle acti vity, cotton, wool
39
Jewelry, sales, inventories, sale credit
8, 9,16
Steel ingots and steel manufactures (see also
35
Kerosene
Iron and steel)
.
._ 32,33
Steel, scrap
_
32
13
Labor disputes, turn-over.
Stocks, department stores (see also ManufacLabor force
10
turers'
inventories)
10
29
Lamb and mutton
„__
Stocks, dividends, issues, prices, sales, yields..
20
29
Lard
Stokers, mechanical
34
Lead.
33
Stone,
clay,
and
glass
products
2,
Leather and products,.
2,3,4,5, 12, 14,30,31
3,11,12,13,14,38
Linseed oil,
,
25
Stoves...
_
34
Livestock
2,5,29
Street railways and buses
13,14,15,22
Loans, real estate, agricultural, bank, brokers'
Sugar__
. 22,30
(see also Consumer credit)
7, 15, 16, 17,19
Sulfur
25
Locomotives
__,
40
Sulfuric
acid._
24
Looms, woolen, activity
39
Superphosphate
;
r
24
Lubricants
35
Lumber.
2, 5, 11, 12, 13, 14, 31,32
Tea
_
30
Telephone, telegraph, cable, and radio-teleMachine activity, cotton, wool
39
graph carriers
..... 11,13,14,15,19, 20, 23
Machine tools
34
Textiles
2,3, 4, 6,11,12,14,15, 21, 38, 39, 40
Machinery
2,3,4, 11,12,13,14,18,21,34
Tile
38
Magazine advertising
8
Tin
22,33
Mail-order houses, sales
10
Tires
and
inner
tubes
6,12,14,
15,37
Manufacturers' sales, inventories, orders
3,4
Tobacco
2,3,4,5,7,8,11,12,14,15,30
Manufacturing production indexes
2,3
Tools, machine
34
Meats and meat packing,
2, 5, 11, 12, 14, 29
Trade,
retail
and
wholesale.
3,4,8.9.10,11,13,14,15
Metals
2, 3, 4, 6, 11, 12, 13, 14, 15, 18, 32, 33
Transit lines, local
....
15, 22
Methanol
24
Transportation, commodity and passenger
22, 23
Milk
.
27
equipment.... 2,3,4,11,12,13,14,40
Minerals
.
2,3, 13, 14, 15 Transportation
Travel
:___
23
Money supply
.
18
Truck trailers.
40
Mortgage loans
7, 15,16
Trucks
...I..
40
Motor fuel
-_.
36
Turpentine and rosin
24
Motor vehicles
3, 8, 9,40
Motors, electrical
34
Unemployment and unemployment compensation
_ _ 10,13
National income and product
1
United States Government bonds
_. 17,18,19
Newspaper advertising
8
United States Government,
finance
16,17
Newsprint
22,37
Utilities
1, 5,11,13,14,15,17,18,19, 20
New York Stock Exchange
19,20
Vacuum cleaners
.
.... ..
34
Oats
28
Variety stores
.
9
Oil burners
34
Vegetable oils
_
25, 26
Oils and fats
5,25,26
Vegetables
and
fruits
_
2,5,21,27
Oleomargarine
26
Vessels cleared in foreign trade.
...
23
Operating businesses and business turn-over..
4
Veterans' unemployment allowances.
13
Orders, new and unfilled, manufacturers'
4
Wages, factory and miscellaneous..
13,14,15
Paint and paint materials
5, 26
Washers
34
Paper and pulp
2,3,6,11,12, 14,36,37
Water heaters
,
..„.. 34
Paper products
2,3,4,36,37
Wax
36
Passports issued
23
Wheat and wheat
flour
...
19, 28
Payrolls, indexes
12
Wholesale price indexes
—..
5,6
Personal consumption expenditures
8
Wholesale trade
10
Personal income
1
Wood pulp
36
Personal saving and disposable income
1
Wool and wool manufactures.^2, 6, 22,39, 40
Petroleum and products
2,
3, 4, 5, 11, 12, 13, 14,15, 21, 22, 35, 36
33
Zinc.
Pig iron
_
...
32
Fish oils and
Flaxseed
Flooring
Flour, wheat
Food products
fish
THE ECONOMY
UNDER
PRESSURE
OF
EXPANDS
DEMAND
The Annual Review Number of the
SURVEY OF CURRENT BUSINESS
N 1950 the national economy recovered from
recession, advanced to a peacetime peak and had
to reassess its military commitments. As the
country marshaled its resources to combat twin
enemies—aggression abroad and inflation at home
—mobilization and controls became the watchwords of defense. The Economy Expands Under
Pressure of Demand succinctly surveys these
developments in the brief incisive chapters listed
below.
* National Income and Product
Forty pages of business statistics compiled from
commercial and governmental sources provide a
month-by-month progress report—before and after
Korea—on more than 2,600 series including production, labor, commodities, securities, and trade.
Numerous charts and summary statistical tables
interspersed through brief textual summaries and
analyses of significant economic developments
make this 7 2-page publication an invaluable aid
in considering business prospects during a period
of National Emergency.
* Agricultural Production
Price Developments
Construction Activity
Industrial Production
Employment and Labor
Financial Developments
Retail Trade
Foreign Trade
it Business Investment
Business Population
The Economy Expands Under Pressure of Demand—the February Annual Review Number of the
SURVEY OF CURRENT BUSINESS—is priced at 30 cents. A 25-percent discount is given for quantity
orders of 100 or more copies for classroom or other use. Annual subscriptions to the SURVEY OF
CURRENT BUSINESS are available at $3 per year; foreign $4.
Orders may be placed with the Superintendent of Documents, U. S. Government Printing Office
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