Full text of Survey of Current Business : June 1927
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UNITED STATES DEPARTMENT OF COMMERCE WASHINGTON SURVEY OF CURRENT BUSINESS JUNE, 1927 No. 70 COMPILED BY . BUREAU OF THE CENSUS BUREAU OF FOREIGN AND DOMESTIC COMMERCE BUREAU OF STANDARDS IMPORTANT NOTICE In addition to figures given from G&vernment sources, there are also incorporated for completeness of service figures from other sources generally accepted by the trades, the authority and responsibility for which are noted in the "Sources of Data" on pages 135-138 of the February semiannual issue Subscription price of the SURVEY OF CURRENT BUSINESS is 31.50 a year; single copies (monthly), 10 cents, semiannual issues, 25 cents. Foreign subscriptions, £2.25; single copies (monthly issues), including postage, 14 cents; semiannual issues, 36 cents. Subscription price of COMMERCE REPORTS is 24 a year; with the SURVEY, $5.50 a year. Make remittances only to Superintendent of Documents, Washington, D. C., by postal money order, express order, or^New York draft. Currency at sender's risk. Postage stamps or foreign money not accepted B. §. COVERNMENT PIIHTIHC OmCt t fM7 INTRODUCTION THE SURVEY OF CURRENT BUSINESS is designed to present each month a picture of the business situation by setting forth the principal facts regarding the various lines of trade and industry. At semiannual intervals detailed tables are published giving, for each item, monthly figures for the past two years and yearly comparisons, where available, back to 1913; also blank lines sufficient for six months have been left at the bottom of each table enabling those who care to do so to enter new figures as soon as they appear (see issue for February, 1927, No. 66). In the intervening months the more important comparisons only are given in the table entitled "Trend of business movements." WEEKLY SUPPLEMENT Realizing that current statistics are highly perishable and that to be of use they must reach the business man at the earliest possible moment, the department has arranged to distribute supplements every week to subscribers in the United States. The supplements are usually mailed 6n Saturdays and give such information as has been received during the week ending on the preceding Tuesday. The information contained in these bulletins is republished in the monthly SURVEY, which is distributed as quickly as it can be completed and printed. BASIC DATA The figures reported in the accompanying tables are very largely those already in existence. The chief function of the department is to bring together these data which, if available at all, are scattered in hundreds of different publications. A portion of these data are collected by Government departments, other figures are compiled by technical journals, and still others are reported by trade associations. RELATIVE NUMBERS To facilitate comparison between different items and render the trend of a movement more apparent, relative numbers (often called "index numbers/' a term referring more particularly to a special kind of number described below) have been calculated* The relative numbers enable the reader to see at a glance the general upward or downward tendency of a movement which can not so easily be grasped from the actual figures. In computing these relative numbers the last prewar year, 1913, or in some instances a five-year average, 1909-1913, has been used as a base equal to 100 wherever possible. The relative numbers are computed by allowing the monthly average for the base year or period to equal 100. If the movement for a current month is greater than the base, the relative number will be greater than 100, and vice versa. The difference between 100 and the relative number will give at once the per cent increase or decrease compared with the base period. Thus a relative number of 115 means an increase of 15 per cent over the base period, while a relative number of 80 means a decrease of 20 per cent from the base. Relative numbers may also be used to calculate the approximate percentage increase or decrease in a movement from one period to the next. Thus, if a relative number at one month is 120 and for a later month it is 144 there has been an increase of 20 per cent. In many instances comparable figures for the prewar years are not available, and in such cases the year 1919 has usually been taken as the base. For some industries 1919 can not be regarded as a proper base, due to extraordinary conditions in the industry, and^ some more representative period has been chosen. InT many cases relative numbers of less importance have been temporarily omitted. Most of the relative numbers appear in a special section of the semiannual issues, as in Tables 111 to 131 of the August, 1926, number, thus allowing easy comparison on a pre-war base for all items for which relatives could be computed. INDEX NUMBERS When two or more series of relative numbers are combined by a system of weightings the resulting series is denominated an index numher. The index number, by combining many relative numbers, is designed to show the trend of an entire group of industries or for the country as a whole, instead of for the single commodity or industry which the relative number covers. Comparisons with the base year or with other periods are made in the same manner as in the case of relative numbers. RATIO CHARTS In many instances the charts used in the SURVEY OF CUREENT BUSINESS are of the type termed "Ratio Charts" (logarithmic scale), notably the Business Indicator charts on page 2, These charts show the percentage increase and allow direct comparisons between the slope of one curve and that of any other curve regardless of its location on the diagram; that is, a 10 per cent increase in an item is given the same vertical movement whether its curve is near the bottom or near the top of the chart. The difference between this and the ordinary form of a chart can be made clear by an example. If a certain item, having a relative number of 400 in one month, increases 10 per cent in the following month, its relative number will be 440, and on an ordinary chart would be plotted 40 equidistant scale points higher than the preceding month. Another movement with a relative number of, say, 50, also increases 10 per cent, making its relative number 55. On the ordinary (arithmetic) scale this item would rise only 5 equidistant points, whereas the previous item rose 40 points, yet each showed the same percentage increase. The ratio charts avoid this difficulty and give to each of the two movements exactly the same vertical rise, and hence the slopes of the two lines are directly comparable. The ratio charts compare percentage changes, while the arithmetic charts compare absolute changes. This issue presents practically complete data for the month of April and also items covering the early weeks of May received up to May 28. (See charts and table, pp. 4 and 5.) As most data covering a particular month's business are not available until from 15 to 30 days after the close of the month, a complete picture of that month's operations can not be presented at an early date, but the weekly supplements give every week the latest data available. UNITED STATES DEPARTMENT OF COMMERCE WASHINGTON SURVEY OF CURRENT BUSINESS COMPILED BT BUREAU OF THE CENSUS BUREAU OF FOREIGN AND DOMESTIC COMMERCE : : BUREAU OF STANDARDS 1927 JUNE No. 70 CONTENTS INDEX BY SUBJECTS SUMMARIES Preliminary summary for May 1 Course of business in April 9 Monthly business indicators (table and chart) 2, 3 Weekly business indicators (table and chart) 4, 5 Wholesale prices (table and charts) 6, 7, 11 Indexes of business 9,10 Detailed indexes (production, prices, sales, etc.) 18 Steel, mining, manufacturing, electric power, and transportation (charts) 8 NEW DETAILED TABLES Automobile tires Automobiles ± Paints and varnishes Exports of automobile tire fabrics. Census of manufactures 21 22 22 22 23 Textiles Metals and metal productsFuels Automobiles and rubber Hides and leather Paper and printing Building construction and housing Lumber products Stone, clay, and glass products Chemicals and oils Foodstuffs Tobacco Transportation and public utilities Employment and wages Distribution movement (trade, advertising, etc.). Banking and finance Foreign exchange and trade, gold and silver Text Table page page 12 24 13 26 14 30 14 28, 32 14 31 32 14 33 15 34 15 15 36 37 15 38 15 41 16 42 17 11 43 44 17 17 45 47 17 PRELIMINARY SUMMARY FOR MAY The dollar volume of trade in May, based upon weekly figures covering check payments, was, larger than a year ago. Distribution of goods, as shown by figures on freight carloadings, was also larger than last year. The output of bituminous coal was substantially lower than in May, 1926, the decline from a year ago being solely due to labor conditions within the industry. The output of crude petroleum reached a new high point during the month. Production of beehive coke was lower than in either the preceding month or the corresponding month of last year. While lumber production was greater than in April, the output was substantially lower than a year ago. The volume of new building contracts awarded during the early weeks of May showed declines from both the previous month and the corresponding month of last year. Wholesale prices during May showed relatively little change from the preceding month but were 48401—27 1 substantially lower than a year ago. Loans and discounts of Federal reserve member banks expanded during May, being higher also than in May, 1926* Prices of stocks on the New York Stock Exchange averaged higher than in either the preceding month or May a year earlier, with bond prices showing similar comparisons. Loans to brokers and dealers by Federal reserve member banks in New York City and secured by stocks and bonds continued to expand. Interest rates on call loans were generally higher than a year ago but averaged lower than in the preceding month. Kates on time money were also higher than a year ago, showing little change from the preceding month. The Federal reserve ratio showed little change from the preceding month but was substantially higher than a year earlier. Business failures during May, based on figures for the first three weeks, were more numerous than a year ago. MONTHLY BUSINESS INDICATORS: 1920-1927 [Ratio charts—see explanations on inside front cover. The curve on bank debits has been adjusted for normal seasonal variations and that on manufacturing production for the varying number of working days in the month] RELATIVE TO 1919 AS 100 RELATIVE TO 1913 AS 100 350 300 1920 1921 1922 !923 1924 1925 1926 1927 PRICES 25 INDUS INTEREST RATES, COMMERCIAL PAPER 1920 1921 1922 1923 1924 I i BANK DEBITS. 141 (925 J926 1927 WHOLESALE TRADE 6 LINES DEPT. STORE TRADE (359 STORES WHOLESALE PRICES < DEPT. OF LABOR ) FARM PR ICES (DEPT OF AGRICULTURE) MAIL-ORDER SALES (4 HOUSES) COTTON CONSUMPTION I i i i i t i i MANUFACTURING LUMBER PRODUCTION (5 SPECIES) PIG IRON PRODUCTION UNFILLED STEEL ORDERS AUTOMOBILE PRODUCTION ( PASSENGER CARS AND TRUCKS) NET FREIGHT TON-MILES FACTORY EMPLOYMENT BUSINESS FAILURES DEFAULTED LIABILITIES 1920 i I i i i i i I I M 1921 1922 1923 i I l i i i i I i i I I I I I 1924 1925 1926 1927 BUILDING CONTRACTS (27 STATES) 1921 1922 1923 1924 1925 1926 1927 -|200 MONTHLY BUSINESS INDICATORS The following table gives comparative relative numbers for a selected list of important business movements. It is believed that this table will prove useful, because it segregates from the large mass of material a comparatively small number of items which are often regarded as indicative of business in general. The table has been divided into two parts, the first containing those items for which relative numbers can be calculated, using 1913 as a base. The second part contains items for which comparable data back to 1913 are not available. This latter group of relative numbers is calculated by letting the 1919 monthly average equal 100. Care should therefore be exercised in comparing the absolute value of the two sets of data. In either group, however, the upward or downward trend of the relative numbers, compared to previous months, does reflect the present tendency in each item and will give a basis for business judgment. 1927 1926 MONTHLY AVERAGE ITEM 1926 1921 1922 1923 1924 1925 1926 Jan. Feb. Mar. Apr. May June July Aug. Sept. Oct. Nov. Dec. Jan. Feb. Mar Apr. 1913 monthly average =160 Production: Pig iron 120 Steel ingots 135 Copper 99 Cement (shipments) ... 108 Anthracite coal . 98 Bituminous coal119 Crude petroleum 178 Cotton (consumption) 105 Beef 119 Pork 113 Unfilled orders: United States Steel Corporation 170 Stocks: Crude petroleum * 143 Cotton (total) 155 Price: « Wholesale index 226 Retail food . 203 Retail coal, bituminous . 307 Farm products 205 Business finances: Defaulted liabilities 108 Price 25 industrial stocks 184 Price 25 railroad stocks . 67 Banking: Clearings, New York City 257 Clearings, outside 275 134 Commercial paper interest rate Distribution: 294 Imports (value) Exports (value). 331 Sales, mail-order .. 264 Transportation: Freights, net ton-miles 137 54 87 130 101 118 127 130 114 134 135 136 126 64 114 144 122 146 155 164 150 177 163 156 148 38 80 120 128 136 141 138 132 147 143 143 139 107 131 153 164 177 182 77 . 79129 175 243 259 99 60 102 96 68 93 2 27 115 108 106 117 87 88 118 101 109 121 135 117 116 101 98 105 189 224 295 287 304 309 288 264 293 290 302 298 97 109 117 99 115 120 125 i 121 137 124 111 111 113 126 130 133 138 144 139 120 136 137 139 150 117 130 160 151 128 127 168 127 136 120 119 136 90 96 102 68 73 171 198 265 153 311 125 369 111 147 153 197 116 149 142 188 124 154 146 190 135 150 146 169 134 156 164 179 143 229 228 136 169 64 75 197 185 72 198 162 149 191 188 262 285 309 81 99 112 111 205 230 226 212 230 276 118 80 90 64 83 125 158 140 251 108 116 321 108 140 118 64 67 64 65 61 59 61 60 61 290 129 269 278 274 177 227 213 274 192 273 167 271 143 268 119 265 98 265 85 265 137 264 264 265 266 217 260 267 257 159 145 167 147 151 160 172 136 155 162 179 143 152 160 170 140 151 162 168 140 152 152 161 160 161 160 139 139 151 157 160 136 149 156 162 133 151 159 170 134 150 160 177 130 150 309 109 134 169 147 129 130 123 272 249 253 268 280 296 105 104 106 111 113 116 236 198 327 248 279 259 296 266 215 225 193 192 170 181 187 172 163 349 336 322 357 344 299 309 105 139 149 131 126 121 121 115 136 134 147 137 150 151 180 164 146 141 148 134 134 137 153 87 81 91 150 194 98 99 86 77 80 93 150 145 143 133 151 87 336 348 345 328 364 349 126 130 130 127 149 133 155 150 135 122 132 128 119 151 164 128 146 126 74 264 300 307 344 272 356 329 297 307 302 275 284 320 327 344 291 342 327 319 332 337 307 71 73 77 79 75 78 76 72 70 72 78 139 123 130 155 162 141 146 245 237 111 114 123 137 315 333 123 122 164 166 100 101 78 140 177 212 201 181 154 168 185 188 204 259 284 115 126 144 140 254 111 109 313 99 136 129 138 130 141 133 146 144 62 148 147 162 162 188 187 130 127 147 159 183 126 61 60 59 272 276 284 239 210 181 146 156 181 127 145 154 179 126 144 154 1« 125 131 146 143 200 225 206 254 233 296 283 295 308 301 311 324 344 120 114 117 121 122 127 128 133 271 315 80 309 282 339 324 292 364 336 345 319 344 329 291 340 323 82 80 78 75 70 72 74 227 225 230 252 250 241 240 208 254 253 178 186 216 220 232 225 203 180 198 200 284 286 336 417 425 471 313 312 365 361 153 147 143 136 143 141 ! 143 127 113 141 139 135 131 119 190 192 203 200 210 262 244 j 204 156 101 106 95 208 145 115 123 123 99 158 156 188 206 185 240 247 160 162 177 159 153 1919 monthly average =100 Production: Lumber '*. Building contracts _ Electric power (total) Automobiles (United States) Stocks: BeefPork ' Business finances: Bond prices (40 issues) Banking: Debits outside New York City Federal ReserveBills discounted Total reserves Ratio i 117 133 102 106 122 143 132 204 129 108 152 181 141 138 169 215 102 72 112 115 86 69 105 83 66 98 42 83 29 70 32 91 34 90 86 87 107 104 108 112 114 91 95 107 108 132 91 28 39 19 148 148 139 153 142 125 180 183 184 259 236 220 113 130 117 90 190 174 199 220 146 150 191 262 142 155 179 267 34 67 33 74 30 78 25 76 22 74 116 114 115 115 116 117 117 117 117 121 127 134 114 133 128 122 128 135 118 26 30 23 28 33 27 24 27 27 136 133 190 218 34 ! 27 82 70 19 21 78 ! 86 .1 97 122 144 146 146 134 135 135 133 133 135 136 136 137 80 122 154 152 160 149 148 149 147 146 151 151 150 152 26 52 36 47 43 57 40 72 37 81 33 90 27 95 116 ; 116 118 119 119 119 120 120 121 135 j 32 | 37 33 135 134 135 148 145 i 147 123 139 133 118 137 134 33 135 144 37 134 140 19 143 159 22 144 156 24 145 157 23 146 158 18 84 20 67 I 1 2 Data since January, 1925, cover only stocks east of California, and hence are not directly comparable with figures for earlier periods. Wholesale and retail prices from Department of Labor averaged for the month; farm prices from Department of Agriculture. Based on the total computed production reported by five associations. Includes southern pine, Douglas fir, western pine, North Carolina pine, and California white pine. The total production of these associations in 1919 was equal to 11,401,000,000 board-feet, compared with a total lumber production for the country of 34,552,000,000 board-feet reported by the census. WEEKLY BUSINESS INDICATORS [Weeks ending Saturday. See table on page 5] WEEKLY AVERAGE, 1923-1925 INCLUSIVE- 100 B TUMINC)US CO AL.P RO[DUG TlOh4 160 T 140 Ai •f t 120 1 IOO '•'••li V ... ..."• ••"* •/ * ' njfc V 80 60 40 iU b*" yv '• V \ •\ : H !JV ; : : ; A• : j 1 80 ;1 11 60 1 1 1 11 / J 1 ^Ui 1 1 1 i Ll 1 M 1 1 11 MM 115 1 i1 1LJ —. M0 50 444> 75 **£ •••••, ^s, ^ 1 11 1 11 Illl 1 1 .LI 1 I l l l 1 11 1 1 120 PE TROLEUM PRODUCTION DAILY AVERAGE) £ 120) yj •••» | 110 i/S X f- *** ...- EIOO ... *..». *•'* •V*" 1 1 1 1 M i l MM 1 1 I 1 11 116 90 r i^. ..... : ^ vV A A -f\ * . /..• J t...- V '*••. ... • 70 UMi MV 1 1 1 1 II M i Illl 1 1 1.1 III IOO *••.».. ..... / 140 140 \ 250 / 175 120 \ V*** / IOO 25 '+b4, l±j_ ....• Vi'T* KT\ '* ..... 11 i I 1 I 200 150 r "\ 50 ~ ; ; \ V '•». 4 1!1 0 JAN. FEB.fVAR 1 ! 1I 1 t APR. MAY JUN. JULY AUG SEP. OCT. NOV DEC ;-% ....' ; •• ..." 1 V IMI 1 11 ,„ y. ../ „„' i 1 1 ,M '•'*" 1 11 •A ;*\ -"V *s\ f» • 1 1 •. •» I 1 11 1 1 1 BOND 105 ^*+ *~ '••• / NEW YORK ..... ..... 11 i 1 1 1 11 1 1 1 PRICES •^ tf\f\ •V& IOO ^•p !', BUSINESS FAILURES (NUMBER) 190 IROIsi AND STEEL COMPOSITE PRICES , , —., , , , 1 , ••«.. •MX" 1 11 •••..* .... •••** • 110 ^ 86 ^l_ 90 W» J M 95 ...«•• .. ..-• 110 *•> *~s on -\, ***•« .••••• TIME MONEY RATES 40 ki^ WL- '••• "V ..... ..— •'..... *. ion V*' I 11T 1! PRICE NO 2 RED WINTER 60 h L S, ^^ IOO VN 80 .... ^.. 130 80 •Mb ,y^ \. V \ 110 4M c OTTON PRICES MIDDLING 350 \ ^** ISO ... 100 COTTON RECEIPTS 250 '\ •x ,. IOO ». ,„..• 2b '"'' f... f ^** . *'• /*' t\ /H •k • =/ 3y IOO '••. w HEAT / *' STOCK PRICES 1 90 ^u ' CALL MONEY RATES • 96 400 ••.. 8Q 1 1 . I.L WHEAT RECEIPTS '\ r'-' **••* 160 120 .... '*«• . ./V *' 110 105 V 80 ^^ A . 80 f h" —¥ C . 130 j M^ IOO ^ 1 11 CAR LOADINGS r1 '* *• • FtS HER'S WHOLESALE PRICE" INDEX ill 300 V. 120 40 111 7 FEDERAL RESERVE RATIO .v ; 60 *.., •'* .-"• 4*i | 90 +*^ 100 \ .\ •«•* IOO V»M '""' /' v V V. M i l ; .* HOG RECEIPTS 1 1 MM /*****•. 110 444-. / 50 th^ ««,** ..'•" .••* .„ ••',, £A 4, "« :v\ *v ..*•. 150 IOO : IOO SEP; OCT, NOV. DEC] T 125 * A * i * CATTLE RECEIPTS 11 LLL APR. MAY] JUN JULY .OANSAND DISCOUNTS F.R.MEMBER BANKS' I 120 :* 1?* innf IUU • ... : • I i : 'J •f ion I Va >A wlA ~ • f. ^1/|| 80 BEEHIVE COKE, PRODUCTION 125 mnl'H'H"*" \A f\ A fl *m if IOO 40 ISO 75 1 1 120 .' ...'.. /f DEC NOV, I 180 140 LUMBER;PRODUCTION 120 100 200 160 80 JUN, JULY AUG. SEP; OCT. AN. FEB.MAR, APR. (MAY . /-.. > '' DEBITS TO INDIVID UAL AC COlJNTS BUILDIN G CiONIFRA 3TS JAN. FEB. MARJ APR. MAY JUN. JULY AUQ SER OCT. NOV. DEC. -. .... •- ...» , '•• ^«. *+ JAN. FEB MAR APR, MAY JUN JULY AUG SEP 926 I927 OCT. NOV DEC len 130 n inn IUU tf .«. 111 *• .«* V .'V 1 I 11 1* 1 i i »* M 1 I 1 1 1 1 •144- 1 1 1 JAN FEB MAR APR. MAY JUN JULY AUG SEP. OCT. NOV DEC. 70 iAh WEEKLY BUSINESS INDICATORS JA i TJ Business failures Time-money rates Call-money rates Debits to individual accounts Federal reserve ratio Bank loans and discounts Wholesale price index 79.7 82.0 84.5 87.0 Price of iron and steel (composite) Receipts of cattle 61.9 59.2 61.5 64.6 Price of cotton middling Receipts of cotton 47.8 38.3 44.0 44.0 a o £ Price of No. 2 wheat Receipts of wheat Building contracts Carloadings Petroleum production Beehive coke production WEEK ENDING SATURDAY 8— Lumber production Bituminous coal production [All data are given as relative to the weekly average for 1923 to 1925 as 100J 1936 92.2 92.9 92.6 92.8 100.6 92.2 100.9 103.7 101.9 144.8 100.9 136.2 107.3 109.7 105.3 98.8 104.5 106.4 109. 5 112.7 107.8 107.3 107.3 102.0 92.8 96.7 95.5 95.1 111.4 110.5 113.6 112.7 95.5 93.1 95.1 93.1 93.5 96.8 143.1 93.4 96.9 179.8 93.1 100.6 160.9 93.9 101.5 111.5 93.6 92.7 95.4 95.2 99.4 106.4 104.5 106.4 107.3 108.6 85.7 86.5 82.9 88.2 79.2 95.5 95.7 96.0 95.4 96.5 June 5 -12 19 . . 26._ 88.9 98.8 97.5 101.0 100.5 107.3 109.5 104.5 79.6 80.0 75.1 76.3 July 97.4 100.5 85.2 80.9 103.8 102.3 104.1 99.1 108.2 104. 5 66.5 97.8 71.8 97.6 74.3 98.6 69.4 99.4 71.8 101.6 111.9 94.0 113.0 113.2 115.0 104.1 109.1 108.1 115.1 105.5 106.4 105.5 108.2 67.8 66.5 74.7 73.9 102.8 103.8 104.2 104.5 113.0 104.5 105.2 95.0 117.5 104.5 120.2 106.4 75.1 74.3 80.0 80.4 Mar. Apr. 6 13 20 27 ... .. 3 10 17 24 --_ May 1 8 15 22 29 3 10 17 24 31 .- Aug. 7 14 21 28 Sept. 4 11 18 . _. 25 .. . 120.4 119.0 123.2 112.7 71.7 72.1 71.0 71.0 94.0 94.0 93.9 93.9 99.1 98.7 98.9 97.6 112.1 94.4 130.2 112.1 111.4 111.3 96.2 110.5 103.0 111.4 111.6 97.5 121.2 103.0 105.7 111.6 95.9 110.9 118.2 105.7 32.8 51.9 41.2 46.9 35.1 43.5 44.3 38.8 68.7 59.0 73.1 67.8 80.7 73.7 ~Il§.~3 87.3 73.5 123.2 71.3 71.0 70.6 69.5 93.9 93.1 93.1 92.9 97.7 97.0 97.6 97.3 112.4 111.7 111.2 111.0 143.3 144.3 127.6 164.7 145.9 47.2 44.2 38.9 45.3 60.8 44.6 39.2 40.0 35.8 38.5 97.5 96.5 85.8 85.4 94.3 77.5 73.3 65.5 71.0 77.5 116.2 117.6 119.0 116.2 116.9 69.5 70.6 69.9 69.1 69.5 92.7 92.7 92.6 92.1 91.8 96.7 97.3 98.0 98.4 98.2 111.6 97.7 106.4 112.1 96.1 121.8 111.7 97.7 108.6 111.2 97.3 113.9 111.0 98.1 107.8 96.4 98.7 108.0 96.7 110.6 130.8 96.5 108.9 116.4 97.0 110.8 130.6 46.3 46.7 44.2 71.4 33.1 94.0 30.8 91.5 24.6 92.7 16.5 84.5 74.6 90.6 74.6 70.3 104.2 109.9 108. 5 102.1 69.1 66.9 67.6 68.4 91.4 91.0 90.8 90.8 97.7 98.9 98.0 97.8 111.7 111.3 112.5 111.6 108.9 137.1 141.2 116.3 163.6 110.7 173.6 179.4 242.5 323.5 18.6 94.9 13.1 88.6 20.0 102.5 20.0 93.4 25.4 92.7 71.0 95.1 69.6 66.1 104.2 69.8 101.4 67.2 102.8 67.3 70.2 68.4 69.5 70.6 91.2 91.2 91.0 91.0 90.8 113.0 115.7 113.6 118.5 105.3 131.8 131.6 171.4 296.8 235.2 175.5 137.0 22.7 74.4 43.8 97.5 53.5 101.3 61.2 102.2 69.8 66.1 66.9 59.0 97.9 96.5 95.8 95.8 69.5 65.4 66.9 70.2 105.4 104.8 104.3 104.2 120.1 107.5 123.8 123.4 125.7 167.7 140.5 156.2 162.1 153.2 147.6 122.4 101.9 113.8 195.4 249.2 122.2 119.9 132.0 139.2 59.9 59.8 63.2 59.5 93.7 68.8 94.4 68.0 96.5 62.9 96.5 55.9 123.7 123.6 126.2 126.1 126.9 150.7 122.6 161.6 138.6 146.4 116.0 109.6 91.8 109.3 118.0 321.5 360.4 359.2 353.5 328.1 129.1 58.6 97.9 144.9 63.5 96.5 140.8 66.3 97.9 141.8 74.0 100.0 149.4 78.9 100.7 103.8 103.9 107.4 108.4 112.8 88.8 81.7 84.3 77.3 94.7 96.3 94.2 98.1 129.6 131.8 128.2 122.4 104.9 118.9 105.0 120.6 105.1 96.3 105.0 108.8 112.5 115.1 108.6 116.2 104.9 97.3 120.7 97.0 105.7 119.0 105.3 98.5 114.5 109.1 102.9 116.7 105.8 106.9 117.6 84.8 97.1 119.8 106.1 116.5 93.9 93.9 90.9 97.0 97.0 91.4 91.4 91.4 94.3 94.3 122.3 120.4 119.5 119.9 122.5 106.3 106.1 106.4 106.4 106.5 121.1 99.0 102.9 101.5 106.6 106.2 100.0 110.2 97.0 117.8 90.9 111.6 103.0 94.3 94.3 97.1 97.1 123.6 124.2 128.0 128.8 106.4 106.5 106.5 106.4 83.8 92.9 98.3 98.3 96.7 97.1 96.7 95.9 95.3 113.1 97.2 115.1 115.1 112.5 94.6 118.2 109.1 112.1 96.6 117.4 103.0 111.9 98.1 117.8 97.0 111.8 95.0 105.4 106.1 94.3 97.1 100.0 100.0 102.9 129.9 131.3 132.8 131.6 133.4 106.3 106.3 106.2 106.0 105.9 91.2 75.2 87.0 88.2 97.5 90.8 90.8 90.8 90.8 95.1 94.8 94.7 95.3 112.6 112.9 112.5 112.6 109.1 109.1 109.1 115.1 102.9 105. 7 108.6 108.6 135.5 137.5 138.7 137.2 106.2 106.2 106.0 106.0 92.1 91.2 88.9 89.9 90.8 90.7 91.3 91.5 95.0 95.6 95.4 95.1 113.5 96.0 102.3 115.1 113.6 95.9 92.2 121.2 114.5 92.4 115.6 121.2 114.1 94.3 119.1 127.3 111.4 111.4 111.4 114.3 137.2 140.1 138.8 139.0 106.2 92.6 106.2 73.5 106.1 80.3 106.0 82.6 52.6 48.2 50.0 46.3 46.7 91.4 91.4 92.1 92.1 92.2 95.4 94.9 95.3 95.5 96.5 115.2 115.3 115.3 115.0 114.5 93.7 95.1 94.3 95.6 95.0 108.5 130.3 107.7 131.9 115.8 133.3 115.1 124.2 103.0 109.1 114.3 114.3 117.1 114.3 111.4 140.5 136.3 134.4 132.9 134.6 105.8 81.8 105.8 96.1 106.0 92.1 105.8 105.9 106.3 105.7 95.9 97.5 96.8 98.1 97.3 97.2 96.9 97.3 115.5 106.0 111.4 102.5 Oct. 2 9 16.... 23 . 30 123.2 126.9 127.1 130.4 138.4 103.2 106.4 105.5 103.2 105.5 75.1 84.9 82.0 81.6 80.0 105.3 105.8 107.2 109.7 111.9 Nov 6 13 20. 27 134.5 102.3 141.7 99.1 146. 5 99.1 137.6 88.2 78.4 82.4 83.7 80.8 113.2 118.6 127.7 104.1 320.0 123.7 112. 5 116.1 121.3 96.6 307.7 137.0 113.8 112.5 119.1 77.2 305.4 131.3 114.8 98.3 163.0 73.8 278.1 96.8 79.5 85.1 79.4 75.0 99.3 97.9 95.8 97.2 46.7 48.2 47.8 48.2 92.5 92.8 92.9 93.0 98.8 98.4 96.0 96.2 115.0 114.5 114.3 114.6 93.9 95.5 95.1 94.6 111.8 115.5 118.2 112.2 109.1 106.1 112.1 115.1 108.6 105.7 105.7 105.7 136.2 138.1 138.2 140.4 106.6 106.7 106.9 107.1 94.3 103.9 112.3 97.5 Dec. 4. . . . 11 18. 25 150.6 144.6 138.3 107.6 98.2 96.4 90.0 75.9 78.0 75.1 71.8 59.6 114.7 110.4 83.9 115.0 104.2 117.4 115.1 99.1 176.0 115.3 80.6 90.9 68.5 71.4 61.8 50.2 281.5 110.8 260.8 101.9 237.7 103.5 203.5 71.5 96.8 99.7 90.0 78.7 97.2 98.6 97.9 44.5 45.2 46.3 47.8 92.9 92.4 92.3 92.1 96.2 95.9 94.7 94.3 115.0 93.2 114.8 93.0 115.1 89.9 115.5 88.9 108.8 114.5 118.7 126.7 118.2 118.2 118.2 136.4 105.7 105.7 105.7 105.7 140.9 142.4 144.4 145.2 107.1 107.2 107.3 107.4 113.8 114.5 103.9 120.6 Jan. 1. . . 8 15 109.9 136.0 139.3 138.3 138.9 53.2 75.9 85.9 86.8 82.7 70.2 69.4 73.9 75.9 77.6 114.6 114.7 114.8 114.7 113.8 77.2 138.5 98.1 107.4 99.1 97.3 98.3 89.6 99.2 118.4 53.0 59.0 60.0 58.4 65.1 191.5 133.5 150.8 159.6 140.8 64.2 71.6 87.3 100.9 93.0 110.6 94.9 98.9 87.7 97.7 97.9 95.1 97.2 98.6 47.8 48.2 49.6 50.0 50.4 92.0 92.0 91.3 90.5 90.3 94.0 93.9 93.4 94.0 93.3 116.6 90.5 116.7 91.6 115.4 97.3 114.2 99.2 113.6 102.7 106.1 143.2 120.4 119.4 111.1 133.3 115.1 103.0 100.0 97.0 105.7 102.9 102.9 102.9 102.9 144.4 142.2 142.9 143.0 141.0 107.3 107.5 107.8 108.0 108.0 109.1 121.4 142.8 150.4 146.7 139.4 138.4 135.4 131.0 88.2 90.9 94.1 92.3 76.3 76.7 78.0 77.1 115.3 101.3 77.9 118.2 101.0 99.7 118.7 100.2 112.2 119.3 96.3 134.6 77.6 62.5 72.5 55.5 122.3 120.4 105.8 119.2 84.2 90.0 78.8 86.0 83.5 77.5 82.3 87.7 97.2 96.5 96.5 96.5 61.5 51.8 52.2 52.6 90.1 89.5 89.2 88.7 92.7 92.9 91.4 91.0 113.8 113.2 113.0 113.2 127.9 97.0 111.5 97.0 113.9 97.0 102.2 100.0 102.9 102.9 110.0 102.9 143.9 145.6 148.1 149.7 107.8 107.6 107.7 107.6 140.0 145.9 118.9 109.1 Mar. 5 12 19 26 136.1 141.4 133.6 137.2 90.0 76.3 92. a 79.6 93.2 83.7 92.3 81.6 76.6 76.9 78.2 79.1 82.0 96.5 81.8 95.8 85.1 94.4 76.9 93.0 53.3 52.2 51.8 52.9 88.8 91.4 114.4 101.3 134.2 100.0 100.0 150.3 107.5 88.9 91.0 114.3 102.8 114.4 97.0 102.9 150.3 107.7 89.1 89.8 115. 1 101.9 123.7 97.0 102.9 152.2 108.0 89.1 90.3 114.9 102.2 118.7 106.1 102.9 152.1 108.4 117.9 113.8 115.5 120.9 Apr. P 2 __. 9 16 23 30 -. - - 113.4 84.7 82.1 81.4 86.4 90.9 97.3 97.3 90.0 96.4 83.8 65.8 69.6 76.5 70.4 83.5 80.7 79.4 86.1 80.1 81.7 75.3 61.9 79.5 77.0 93.0 94.4 93.0 95.1 95.8 52.9 53.3 53.3 55.5 56.3 89.1 88.9 88.9 88.5 88.5 90.3 90.7 90.2 89.8 89.8 108.6 108.8 108.7 108.7 108.6 121.4 107.9 114.5 106.9 117.4 May 7 14 21 28 79.2 66.5 88.6 89.9 80.7 99.3 82.7 100.7 100.7 58.8 58.1 59.6 89.0 88.9 88.6 90.2 115.9 100.6 131.0 97.0 100.0 161.6 108.8 105.9 89.8 115.6 103.2 114.4 106.1 100.0 164.0 109.1 108.6 109.0 109.1 90.1 115.7 102.3 121.9 97.0 100.0 . 1927 22 29 Feb. 5 _ 12 19 26. -_ _ 80.0 78.8 71.8 69.0 71.8 84.0 102.3 86.0 101.4 99.1 118.3 118.1 118.2 118.2 103.8 72.9 104.9 123.3 105.0 161.6 105.2 147.5 57.7 96.9 61.8 103.8 51.1 97.7 31.8 88.5 119.0 103.5 153.6 48.7 119.0 100.1 187.2 43.9 117.8 99.8 156.9 37.5 119.0 99.6 153.1 42.9 120.0 107.1 182.5 41.3 63.3 120.3 106.8 115.5 60.4 119.4 107.3 149.2 141.1 119.0 45.3 114.9 115.2 114.8 114.5 114.8 101.3 102.6 101.2 103.4 101.7 102.8 101.7 102.6 102.6 110.0 129.8 117.9 118.2 114.4 109.1 109.1 109.1 97.0 103.0 102.9 97.1 100.0 102.9 100.0 154.3 157.6 159.7 161.3 159.2 1 1 Sources of data are as follows: Bituminous coal and beehive coke production from U. S. Department of Commerce, Bureau of Mines; Lumber production, based on four associations, from the National Lumber Manufacturers Association; Petroleum production (crude) from American Petroleum Institute; Loadings of freight cars from American Railway Association; Building contracts from P. W. Dodge Corporation; Receipts of wheat from Bradstreefs; Receipts of cattle and hogs from U. S. Department of Agriculture^ Bureau of Agricultural Economics; Receipts of cotton from New Orleans Cotton Exchange; Wholesale prices (Fisher's index), based on 1923-24 as 100, from Professor Irving Fisher; Price of cotton, middling, from New York Cotton Exchange; Price of iron and steel, composite, from Iron Trade Review; Price of wheat, No. 2, red, cash, from Chicago Board oj Trade through U. 8. Department 0} Agriculture, Bureau of Agricultural Economics; Loans and discounts of member banks and debits to individual accounts from Federal Reserve Board; Call-money and Time-money rates, and Bond prices from Wall Street Journal; Stock prices from Annalist: Business failures from R. G. Dun & Company. 2 The actual week for all items does not always end on same day. WHOLESALE PRICES FOR SPECIFIED COMMODITIES [Relative numbers, 1926 monthly average taken as 100. April, 1927, is latest month plotted] WHEAT, WINTER 120 f !00 MB* 80 120 100 »MJ *•« .., .., , f -f BEEF, CARCASS ^CATTLE, STEERS I2< .1 ., .. .. • •• ... • . 1 .. ••{ .. .. HOGS, 0' •^ 80 SUGAR, RAW 160 120 OATS »^ .• '., ••' mm r X* CORN, NO. 2 FLOUR.WINTER ..; .., . •« HAMS, SMOKED HEAVY ... •• -., ... *«*« SUGAR, GRANULATED ••' .. .• (CHICAGO) ... " •. .. * ••, RUBBER, CRUDE COTTONSEED OIL % ^% «M| 100 •• •••• 9» •» .-• ***» *«^ MM ,.. ••, ••' ,. .. ., * mm 80 \ t ' \ \ /s \ . \ • ... • ., •** X **fc 60 120 i CO liO \ ••• 80 *•, .. t *t «**• **- MM X^ •. 100 '•. •*" ., '* » .. '* •• •• y .. MM MM •* ... '"* 90 •• .. STEEL BEAMS no ^. H•••• 90 • •' *. .'• •• *•« s^ 80 ••« l « * LUMBER, PINE, SOUTHERN • t •BBB • •• •• .. s '* '-. • „ „» ,-•• .• .. ••., •• • • •' • •. *• • BBH mm *• ... .4* ••' '"' '• B RIC5K, COMMON, NEW YORK CEMENT, LEHIGH < *""? . > % •• , ••, .., -1 •• nmm.Hii H 1 H S H 1H 1 H 1 U H £ i H H i 1 U $ H 1 H H •-- ZINC •^« s* X **^, '. ^ TIN COPPER INGOTS **• X / *. " 4.. .. COKE ^* ^ *«, •• 189.4 -*v N Ik PIG IRON, FOUNDRY 176 6 '" *. ' s 0 COAL, BITUMINOUS ..}.. .. . H" 100 •- PETROLEUM 100 100 .. ••. .. LEATHER, SOLE, OAK ••' • . x '•f BOOTS AND SHOES, (ST. LOUIS) 110 >.. •• t. ,-. •. HIDES, PACKERS ^t"l 60 • ^•ft *, •* •"** SfLK, RAW ... 80 •• mm 80 120 >. .. tt . WORSTED YARNS .... *• \ \ 5 70 _J in * 120 .. " ' •V* •a • ». • (BOSTON) -. •. .. »., 5 90 WOOL, i/j GREASE COTTON PRINT CLOTH ., * £100 UJ COTTON YARN COTTON, RAW ** • WHOLESALE PRICES FOR SPECIFIED COMMODITIES NOTE.—Prices to producer on farm products and market price of wool are from U. S. Department of Agriculture, Bureau of Agricultural Economics; nonferrpus metals from the Engineering and Mining Journal-Press. All other prices are from U. S. Department of Labor, Bureau of Labor Statistics. As far as possible all quotations represent prices to producer or at mill. • , RELATIVE PRICE ACTUAL PRICE (dollars) 1926 average =100 1913 average =100 Unit COMMODITIES March, 1927 April, 1927 April, 1926 1.209 .652 1.270 .125 25. 43 .0682 .1089 .1155 1.172 .656 1.266 .123 25.80 .0713 .1041 .1197 1.422 .657 2.705 .166 31.51 .0666 .1149 .1132 1.37 1.34 .73 .49 .78 1.00 21.00 .144 .44 11.92 11.01 8.00 15. 06 1.34 1.34 .74 .48 .83 1.03 21.00 .146 .43 12.28 10.51 7.78 15.81 Barrel . Barrel Pound Pound. Pound Pound Pound . . Pound 7.33 6.58 .048 .058 .10 .170 .158 .270 Pound Yard Yard Pound . Yard Yard Pound Pound Pound Square footPound Pair Pair .312 .069 .081 1.38 .975 3.29 5.39 .140 . 152 .. .46 .43 6.40 4.85 March, 1927 March, 1927 April, 1927 April, 1926 153 106 213 104 117 116 145 189 148 106 212 103 118 121 139 196 180 106 453 138 145 113 153 186 89 93 68 83 93 106 92 100 87 94 68 81 95 110 88 103 1.67 1.69 .73 .43 .69 .89 25,00 .192 .44 9.13 11.74 8.53 13.53 150 136 117 129 124 157 159 113 176 140 132 171 193 147 135 118 127 132 162 159 115 172 144 126 166 203 183 171 116 113 110 140 189 150 176 107 140 182 174 88 87 96 114 111 104 94 82 96 125 89 121 110 86 87 97 112 119 107 94 83 94 129 85 118 115 7.25 6.58 .048 .058 .09 .170 .176 .268 8.76 7.51 .041 .052 .12 .160 .152 .301 160 171 137 136 131 131 121 162 158 171 137 137 126 131 134 161 191 195 117 121 171 124 116 181 87 91 112 106 91 104 101 88 86 91 112 106 82 104 112 87 .312 .068 .081 1.35 .975 3.29 5.54 .152 .160 .46 .43 6.40 4.85 .374 .077 .098 1.45 1.05 3.51 5.49 .114 .165 .46 .46 6.40 5.00 126 131 132 177 208 213 148 76 81 171 96 206 153 126 129 132 174 208 213 152 83 85 171 96 206 153 151 146 160 187 224 227 151 62 88 176 103 206 158 87 91 87 96 95 97 91 99 87 102 98 100 99 87 90 87 94 95 97 93 108 92 102 98 100 99 April, 1927 FARM PRODUCTS-AVERAGE PRICE TO PRODUCERS Wheat Corn Potatoes Cotton Cottonseed Cattle beef Hogs Lambs Bushel Bushel Bushel Pound - Ton .-_ Pound Pound -. Pound - - FARM PRODUCTS-MARKET PRICE Bushel Wheat, No. 1, northern spring (Chicago) Bushel Wheat, No 2, red winter (Chicago) Bushel.. .-_ Corn, contract grade No. 2, cash (Chicago). Bushel Oats, contract grades cash (Chicago) Bushel Barley, fair to good, malting (Chicago) .. Bushel Rye, No 2, cash (Chicago) Tobacco, burley, good leaf, dark red (Louisville) Cwt_ Cotton, middling upland (New York) - -- Pound . Pound Wool, ii blood, combing, Ohio and Pennsylvania fleeces (Boston) Cwt Cattle steers good to choice corn fed (Chicago) _ Cwt Hogs, heavy (Chicago) Cwt Sheep ewes (Chicago) Cwt Sheep, lambs (Chicago) FOOD Flour standard patents (Minneapolis) Flour winter straights (Kansas City) Sugar 96° centrifugal (New York) Sugar granulated in barrels (New York) Cottonseed oil prime summer yellow (New York) Beef fresh carcass good native steers (Chicago) Beef fresh steer rounds No 2 (Chicago) Pork smoked hams (Chicago) CLOTHING Cotton yarns, carded, white, northern, mule spun, 22-1 cones (Boston). Cotton-print cloth, 27 inches, 64 x 60-38^"-5. 35—yards to pound Cotton sheeting brown 4/4 Trion (New York) Worsted yarns 2/32's cross-bred stock white in skein (Boston) Woman's dress goods, French, 39 inches at mills, serge Suitings, wool, dyed blue, 55-56 inches, 16-ounce Middlesex (N. Y.)-Silk raw Japanese Kansai No 1 (New York) Hides green salted packers' heavy native steers (Chicago) Hides calfskins No 1 country 8 to 15 pounds (Chicago) . Leather, chrome calf dull or bright "B" grades (Boston) Leather sole oak scoured backs heavy (Boston) Boots and shoes men's black calf blucher (Massachusetts). . - . .Boots and shoes, men's dress welt tan calf (St. Louis) FUEL Coal, bituminous mine-run Kanawha (Cincinnati) _ Coal anthracite chestnut (New York tidewater) Coke, Connellsville (range of prompt and future) furnace— at ovens. ._ Petroleum crude Kansas- Oklahoma—at wells Short ton.__ Long ton Short ton.__ Barrel 3.64 10.61 3.65 1.335 3.64 10.58 3.49 1.114 3.39 11.48 3.13 1.800 166 200 150 143 166 199 143 119 154 216 128 193 101 92 88 71 101 92 84 59 Long ton Long ton Long ton Pound Pound Pound.. .-Pound _ 20.26 18.40 34.00 .1308 .0758 .6783 .0669 20.26 19.00 33.25 .1281 .0713 .6607 .0634 20.76 18.63 35.00 .1371 .0797 .6196 .0700 127 125 132 86 173 156 122 127 129 129 84 163 152 115 130 127 136 90 182 142 127 98 99 97 95 90 107 91 98 102 95 93 85 104 86 M feet... Mfeet Thousand.. . 39.66 16.80 17.00 39.56 17.24 16.50 46.88 16.50 17.00 172 182 259 172 187 251 204 179 259 88 102 105 88 105 102 158 126 35 75 158 126 34 75 163 129 49 75 97 97 75 103 97 97 72 103 METALS Pig iron foundry No 2 northern (Pittsburgh) Pig iron, basic, valley furnace Steel billets, Bessemer (Pittsburgh) Copper ingots, electrolytic, early delivery (New York)__ Lead pig desilverized for early delivery (New York) Tin, pig, for early delivery (New York) Zinc slab western (St Louis) __ BUILDING MATERIAL AND MISCELLANEOUS Lumber, pine, southern, yellow flooring, 1 x 4, "B" and better (Hattiesburg district) Lumber, Douglas fir, No. 1, common s 1 s, 1 x 8 10 (Washington) Brick, common red, domestic building (New York) _ _ Cement, Portland, net without bags to trade, f. o. b. plant (Chicago district)... Steel beams, mill (Pittsburgh) Rubber, Para, Island, fine (New York) Sulphuric acid 66° (New York) Barrel Cwt Pound Cwt 1.60 1.90 .286 .75 1.60 1.90 .274 .75 1.65 1.95 .395 .75 8 PIG IRON PRODUCTION AND UNITED STATES STEEL CORPORATION'S UNFILLED ORDERS [April, 1927, is latest month plotted] 14,000 600 MINERAL PRODUCTION AND RAILROAD TON-MILEAGE [Relative numbers, monthly average, 1923-1925 taken as 100] FACTORY EMPLOYMENT, MANUFACTURING, AND ELECTRIC POWER PRODUCTION [Relative numbers, monthly average, 1923-1925 taken as 100] 60 BUSINESS SUMMARY [Index and relative numbers based on the 1919 monthly average as 100—except unfilled orders, which are based on the 1920 average, enable comparisons to be made of the relative condition of the several phases of business. The use of index and relative numbers is more fully explained on the inside front cover, while further details are given in the table entitled "Indexes of Business" on pages 18 to 20] PRODUCTION: Manufacturing (64 commodities—adjusted)1 Haw materials, total Minerals Animals products Crops __ Forest products _ Electric power Building (floor space STOCKS (45 commodities; seasonal adj ustment) UNFILLED ORDERS (relative to 1920) SALES (based on value) : Mail-order houses (4} Ten-cent chains (5 chains) _ Wholesale trade Department stores PRICES (recomputed to 1919 base) : Producers', farm productsWholesale,all commoditiesRetail food Cost of living (incl. food) _ _ CHECK PAYMENTS (141 cities— seasonal adjustment) FACTORY EMPLOYMENT TRANSPORTATION: Net freight ton-miles Car loadings Net available car surplus. _ 1 PER CENT INCREASE (+) OR DECREASE (— ) 1937 1926 YEARLY AVEEAGE April, 1927, from March, 1927 April, 1927, from April, 1926 February March April February March April 128 121 142 114 117 119 190 133 130 92 113 95 79 114 174 90 132 97 130 113 70 126 191 150 132 89 122 110 57 124 179 155 129 108 137 99 103 103 188 99 136 113 152 118 93 112 206 158 136 96 127 119 67 115 0.0 -15.0 -16.4 + 0.8 -28.0 +2.7 + 3.0 -4-7.9 + 4.1 + 8.2 + 17.5 -7.3 156 -1.3 + 0.6 146 174 171 168 162 199 197 177 -10.2 +9.3 52 56 50 57 55 51 48 50 50 0.0 -2.0 99 165 83 124 105 185 82 125 118 209 84 131 123 229 84 136 111 170 76 104 130 199 85 130 121 202 80 133 107 191 73 106 132 213 83 128 128 244 79 143 -3.0 + 14.6 -4.8 + 11.7 + 5.8 + 20.8 -1.3 + 7.5 65 75 78 94 64 73 78 95 70 77 84 98 65 73 86 98 68 75 87 99 67 74 86 98 67 73 87 98 61 71 84 96 60 70 83 95 60 70 83 95 0.0 0.0 0.0 0.0 -10.4 -4. 1 -4.6 -2.6 103 93 110 84 127 84 135 85 140 86 149 87 142 86 150 84 155 84 152 84 -1.9 0.0 +7.0 -2.3 115 119 25 108 116 139 115 122 146 123 127 124 107 105 126 117 111 149 110 137 167 113 110 166 127 115 150 140 180 + 21.7 +20.0 + 2. 2 + 7.8 1923 1924 1925 1926 119 114 136 117 102 121 143 106 113 119 126 117 118 119 152 108 126 117 133 113 111 126 169 138 119 137 74 See p. 28, January, 1925, issue (No. 1), for details of adjustment. COURSE OF BUSINESS IN APRIL GENERAL CONDITIONS The output of manufactures in April, after adjust- a decline from the preceding month but were 7 per ments for differences in working time, showed no cent higher than last year. Freight carloadings were change from the preceding month but was higher than also greater than a year ago. The dollar volume of last year. Stocks of commodities, with corrections wholesale trade declined from both the previous month for seasonal conditions, declined from the preceding and April of last year. Retail sales by mail-order month, but were higher than a year ago. Unfilled houses, although smaller than in March, were suborders for manufactured commodities, principally iron stantially larger than a year ago. Sales by 10-cent and steel and building materials, showed no change chain stores showed increases over both comparative from the previous month but were lower than in April, periods, while the volume of trade in department stores made similar comparisons. 1926. The production of raw materials, although smaller Wholesale prices showed a small decline from the than in the previous month, was greater than last year. preceding month but were substantially lower than a New contracts awarded for building construction, year earlier. The cost of living was somewhat lower measured in floor space, were smaller than in either than in March, declining also from a year ago. Prices the previous month or April, a year earlier. Although of stocks, both industrial and railroad, continued to the production of automobiles was larger than in average higher. Interest rates on time money, alMarch, the output was smaller than a year ago. Fac- though lower than in April a year ago, averaged higher tory employment showed a slight decline from the pre- than in the preceding month. Defaulted liabilities of ceding month, being smaller also than a year ago. failing business firms, although lower than in the preCheck payments, indicative of the general volume of vious month, were substantially higher than in April, trade, after adjustment for seasc nal conditions, showed 1926, 48401—27 2 10 SUMMARY OF INDEXES OF BUSINESS PRODUCTION The output of raw materials in April, although smaller than in March, was greater than a year ago, increases over a year ago being registered in all groups, except forest products. The increase in mineral output over last year was solely due to larger production of petroleum and lead, all other products of the mine showing smaller output. In the case of marketings of crops and animal products, increases were registered over a year ago in all commodities except grains and cattle and calves, which declined. Manufacturing output, after adjustments for differences in working time, showed no change from the previous month, but was higher than a year ago. With no allowance for working time differences, industrial other manufactured commodities were smaller than at the end of March, they were 12 per cent greater than a year earlier. The unadjusted general index of stocks also showed a decline from the preceding month but was almost 10 per cent higher than a year ago. SALES The index of unfilled orders for manufactured commodities, principally iron and steel and building materials, showed no change from the preceding month, but was lower than a year ago. Iron and steel showed smaller forward business than at the end of March, with a similar comparison for a year ago. Unfilled orders for building materials showed increases, both over the preceding month and the corresponding RELATIVE PRODUCTION, STOCKS, AND UNFILLED ORDERS FOR MANUFACTURED COMMODITIES [1920 monthly average=100. Adjustment has been made for both stocks and production for their respective seasonal movements. Unfilled orders are principally those of iron, steel, and building materials. April, 1927, is latest month plotted] output, measured quantitatively, was smaller than in March in all groups, except stone and clay products and miscellaneous, including automobiles. As contrasted with last year, manufacturing production in April was larger in all groups except iron and steel, nonferrous metals, lumber, and paper and printing, which showed declines. COMMODITY STOCKS Stocks of commodities held at the end of April' after adjustments for seasonal conditions, were lower than in March. As compared with a year ago, however, commodity stocks were held in larger quantities. Stocks of raw foodstuffs, although showing a decline from the preceding month, were 6 per cent greater than a year ago, while stocks of other raw materials for manufacture, declining from the preceding month also, showed an increase of 20 per cent over a year ago. Stocks of manufactured foodstuffs were held in larger quantities than at the end of March but showed a substantial decline from a year ago. While stocks of month of 1926. As compared with the 1920 monthly average, the general index of unfilled orders at the end of April was 50 per cent smaller. Mail-order sales, although smaller than in the preceding month, were larger than a year ago. Sales by 10-cent chain stores showed increases over both the preceding month and April, 1926. Other chain-store systems, including cigar, candy, and shoe chains, likewise showed increases over both prior periods. While the sales volume in grocery chains was smaller than in March, a substantial increase was registered over a year ago. Department-store trade showed a larger dollar volume than in either the previous month or April, 1926. Merchandise stocks of department stores, although slightly larger than in March, showed no change from the preceding year. The dollar volume of wholesale trade was lower than in either the preceding month or April a year ago, all lines showing declines from the previous month and a year ago except shoes, which showed an increase over last year, and hardware, which showed no change from a year ago. 11 PRICES Wholesale prices in general were lower than in either the previous month or April, 1926, with all groups showing declines from both the preceding month and April of last year, except cloths and clothing and chemicals, which increased over March, 1927. As compared with a year ago, price declines of more than 5 per cent were registered in farm products, fuels, chemicals, and sundry miscellaneous items, with the smallest decline registered in prices for house furnishings. Keclassified, the general price index showed declines from both the preceding month and April a year earlier in all major groups, except consumers' goods, which showed no change from the preceding month. The greatest decline from a year ago was which was the same as-in March but higher than a year ago, and shelter and clothing, which showed no change from the preceding month. EMPLOYMENT Factory employment in April showed smaller numbers on the pay rolls of representative factories than in either the preceding month or the corresponding month of the previous year. Declines in the number of employees as compared with March were registered in all industrial groups except chemicals, stone, clay and glass products, and vehicles, which increased. As compared with a year ago, increased employment in food, textile, paper and printing, chemical and sundry miscellaneous industries, was insufficient to offset declines in iron and steel, lumber, stone, clay and glass, nonferrous metals, tobacco and vehicle factories. WHOLESALE PRICE COMPARISONS, BY GROUPS [April, 1927, is the latest month plotted] 250 240 230 registered in prices for producers' goods, while the smallest was shown in raw materials. Commercial indexes of wholesale prices showed generally the same conditions. The index of prices received by farmers declined from both the previous month and April of last year. As compared with March, prices for fruits and vegetables averaged higher, all other groups declining. Contrasted with a year ago, all groups were lower in price, with the greatest declines occurring in fruits and vegetables and cotton and cottonseed. Retail prices for food were lower than the preceding month, a decline also being shown from April, 1926. The general cost-of-living index, while showing no material change from the previous month, was substantially lower than in April of a year ago, most items declines from both prior periods except light Digitizedshowing for FRASER Factory pay-roll payments were likewise smaller in April than in either the preceding month or April of last year. Increased pay-roll payments in stone, clay and glass, vehicle, and sundry miscellaneous industries being insufficient to offset declines in food, textile, iron and steel, lumber, leather, paper and printing, chemical, nonferrous metals, and tobacco factories. As compared with a year ago, pay-roll payments were larger in all groups, except iron and steel, lumber, nonferrous metals, tobacco, and vehicles, which declined. Reports from States and cities on employment conditions showed practically the same trends. Reduced to a percentage of the number on factory pay rolls, lay offs in April were larger than in the preceding month or April, 1926, while voluntary quits were smaller than in either prior period. Industrial accessions, although showing a decline from a year ago, increased over the preceding month. 12 REVIEW BY PRINCIPAL BRANCHES OF INDUSTRY AND COMMERCE TEXTILES March wool receipts at Boston were slightly larger than those of the previous month but considerably less than the year before due to a decline in the receipts of foreign wool. Imports of wool were less than in either the previous month or April, 1926. The consumption of wool by textile mills was considerably smaller than in March but slightly larger than for the corresponding month of the previous year. The activity of wool machinery was also less than during the previous month, although most kinds of machinery were more active than a year ago. from March but were considerably lower than a year ago. The production of cotton textiles in April was less than for the previous month for seven of the nine groups shown separately but exceeded the production of April, 1926, in every group but one. Stocks of finished textiles at the end of April were uniformly larger than those at the end of March but were generally less than a year ago. Unfilled orders exceeded those at the end of the previous month in six of the nine groups shown and were much larger than at the end of April, 1926, for every group except one. THE TEXTILE INDUSTRIES [Relative numbers, monthly average 1923-1925 taken as 100. April, 1927, is latest month plotted] 1920 1921 1922 1923 1924 1925 1926 1927 1922 1923 1924 1925 1926 1927 The consumption of cotton by textile mills was considerably less than during March but was larger than during April of last year. Exports of unmanufactured cotton also declined from the previous month and exceeded those of a year ago. Stocks of cotton at mills and warehouses continued to decline seasonally but exceeded those at the end of April, 1926. The world visible supply of cotton was also larger than a year ago. The number of cotton spindles active during April varied only slightly from either the previous month or a year ago. The hourly activity, however, was considerably less than in March but was greater than in April, 1926. Cotton prices showed little change 20 1920 1921 1922 1923 1924 1925 1926 1927 Exports of cotton cloth were larger than during either the previous month or a year ago. The consumption of silk in April was only slightly less than during the previous month and much larger than a year ago. Imports also declined from March and exceeded those of April, 1926. Stocks of silk were practically the same as at the end of March, a decline in warehouse stocks being offset by an increase in mill stocks. The activity of silk machinery was generally less than during the previous month. Such changes from March as occurred in the price of raw wools and woolen goods were downward; prices uniformly declined from a year ago. Prices of cotton goods showed a similar trend. The price of raw silk, 13 on the other hand, was higher than for either the previous month or April of last year. METAL INDUSTRIES The consumption of iron ore and the production of pig iron were slightly less than during either the previous month or the corresponding month of last year. Stocks of iron ore continued to decline seasonally but were larger than at the end of April, 1926. The first shipments of iron ore from the mines began in April, somewhat earlier than a year ago. The output of steel ingots was less than in March and practically the same as a year ago. Unfilled orders of the United States Steel Corporation again declined and continued smaller than a year ago. group and shelving, were less than in either the previous month or April of last year. Shipments of steel boilers exceeded, both in number and square footage, those reported during the previous month. The production of copper at the mines was slightly larger than in March but less than a year ago. The refined copper output, on the other hand, was less than during the previous month but considerably larger than in April, 1926. Stocks of copper, both refined and blister, were less than at the end of April, stocks of refined being greater and those of blister copper less than a year ago. Exports of refined copper exceeded those of either the previous or corresponding month of last year. THE METAL INDUSTRIES [Relative numbers, monthly average 1923-1925 taken as 100. April, 1927, is latest month plotted] WHOLESALE PRICE S INDEX, METALS 920 1921 1922 1923 1924 1925 1926 1927 1920 1921 1922 1923 1924 1925 1926 1927 The output of steel sheets, while less than in March, was substantially larger than in April, 1926. The production of both steel and malleable castings declined from both the previous month and the corresponding month of last year. New orders for malleable castings were larger and those for steel castings smaller than during either prior period. New orders for fabricated structural steel were larger than for either the previous month or the corresponding month of last year, while shipments exceeded those of March. New orders for fabricated steel plate declined from the previous month but were larger than a year ago. New orders for steel furniture, both in the business 1920 1921 1922 1923 1924 1925 1926 1927 2p.i 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 ! 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1920 1921 1922 1923 1924 1925 1926 1927 Deliveries of tin to consuming establishments were greater than during March but were less than a year ago. The world visible supply of tin was smaller than at the end of either the previous month or April, 1926. Imports of tin were larger than during either previous period. The production of zinc was less than for either the previous month or the corresponding month of last year, being accompanied by a decline from both periods in the number of retorts in operation. Stocks of zinc ore exceeded those at the end of either prior period. The production of lead was larger than for either the previous month or the corresponding moof last year. 14 FUELS The production of bituminous coal was less during April than for either the previous month or the corresponding month of last year. The production of anthracite coal, on the other hand, was larger than in March. The production of coke, both beehive and by-product, declined from the previous month, the PRODUCTION OF BITUMINOUS AND ANTHRACITE COAL [April, 1927, is latest month plotted] Imports of crude rubber substantially exceeded those of either the previous month or the corresponding month of last year. The production of pneumatic tires and of inner tubes exceeded that for either the previous month or April, 1926. Domestic shipments, however, were slightly less than during March although considerably greater than a year ago, while stocks continued to increase. A table showing revised figures on the production, stocks, and shipments of pneumatic tires, inner tubes, and solid and cushion tires for each month from January, 1921, to date, is shown on page 21 of this issue. HIDES AND LEATHER BEEHIVE AND BY-PRODUCT COKE PRODUCTION [April, 1927, is latest month plotted] Imports of hides were slightly less than for either the previous month or April, 1926, all classes, except sheepskins, declining from March and only cattle hides and goatskins showing slight increases over a year ago. Hide prices advanced as compared with both prior periods. Exports of sole leather were much smaller than for either the previous month or for April, 1926. Exports of upper leather, while less than a year ago, exceeded those of March. Shipments of belting were less, both in quantity and in value, than for either prior period. The production of boots and shoes was 10 per cent less than in March but was greater than a year ago. Exports of shoes, on the other hand, were larger than in the previous month but less than in April, 1926. PAPER AND PRINTING output of beehive coke being also smaller than in April, 1926. Wholesale coal prices averaged slightly higher than in March, while retail prices declined. Prices of bituminous coal, both wholesale and retail, were higher and those of anthracite lower than a year ago. The price of coke declined from February but exceeded that of last year. NEWSPRINT PAPER PRODUCTION AND MILL STOCKS [April, 1927, is latest month plotted] AUTOMOBILES AND RUBBER The production of passenger cars in the United States exceeded that of the previous month but was less than in April, 1926. The production of trucks, on the other hand, was slightly less than for either prior period. The Canadian production of both passenger cars and trucks in April was larger than for either the previous month or the corresponding month of last year. Exports from the United States, both of passenger cars and of trucks, considerably exceeded those of either prior period, while Canadian exports declined sharply from the previous month. Revised figures on automobiles, with monthly comparisons, beginning with January, 1913, are given on page 22 of this issue. The production of wood pulp, both mechanical and chemical, was less than in either the previous month or in April, 1926. The output and shipments of newsprint paper in the United States also declined from both prior periods while the Canadian output and ship- ments, though greater than a year ago, were less than in March. Box-board production and shipments also declined from the previous month, the output being less than a year ago. New orders and unfilled orders for box board, although less than in March, were greater than in April, 1926. 15 BUILDING Such changes from the previous month as occurred in building costs were downward, there being an even more marked decline from April, 1926. The volume of new building contracts was less in square footage than for either the previous month or April, 1926, all classes except industrial buildings declining from both periods. The value of building contracts awarded in April was also less than in the previous month but was larger than a year ago, increases from March in the value of residential buildings and public works and utilities being insufficient to offset declines in the values of contracts for other types. Fire losses, while larger than in March, were considerably less than a year ago. larger than for either prior period. New orders for architectural terra cotta increased seasonally over March but were considerably less than a year ago. The output and shipments of Portland cement exceeded considerably those of either the previous month CEMENT PRODUCTION AND STOCKS [April, 1927, is latest month plotted] LUMBER AND LUMBER PRODUCTS The production of lumber was generally less than in either the previous month or April of last year, increases from the March output occurring only in the cases of western, North Carolina, and northern pine, while no increases over the output of April, 1926, were recorded. Shipments of lumber showed no definite trend, those of southern pine and of walnut decreasing and those of Douglas fir, western pine, and North Carolina pine increasing from both prior periods. New orders for lumber were generally larger than in April, 1926, only those for southern pine showing a decline from a year ago. There was a general falling off in new orders from March, however, the only increases being for Douglas fir and walnut logs. Stocks of lumber declined from the previous month and, except in the case of western pine nad walnut logs, stocks w^ere less than at the end of April, 1926. The production and stocks of flooring, both maple and oak, were less than for either the previous month or the corresponding month of last year. Shipments of maple flooring exceeded and those of oak flooring were less than those for either prior period. * New orders and unfilled orders of both kinds of flooring were larger than for March or the corresponding month of last year. or of April, 1926. Stocks, while slightly less than at the end of March, were larger than a year ago. New contracts for concrete pavements increased seasonally and were also considerably larger than in April, 1926. CHEMICALS AND OILS Receipts of turpentine and rosin were very much larger than during either March or the corresponding month of last year. Exports of sulphuric acid also greatly exceeded those of the previous month and were almost as great as a year ago. Imports of potash were less than for either prior period and imports of nitrate WHOLESALE PRICES OF CHEMICA.LS, BY GROUPS [April, 1927, is latest month plotted] STONE AND CLAY PRODUCTS The April output of face brick was less than for either the previous month or April, 1926. Shipments and unfilled orders, while larger than in March, were slightly less than a year ago. Stocks, which declined from the previous month, exceeded those of a year ago. Shipments and stocks of paving brick increased seasonally but were considerably less than in April, 1926. The production was almost as great as during the previous month and was larger than a year ago, while orders received and unfilled orders exceeded those of either prior period. New orders, shipments, and unfilled orders of vitreous china plumbing fixtures declined from the previous month, shipments and unfilled orders also being less than a year ago. Stocks, on the other hand, were of soda, while slightly larger than in March were considerably less than a year ago. Exports of fertilizer exceeded those of either prior period. The consumption of cottonseed and the production of cottonseed oil were considerably less than in March but greater than a year ago. FOODSTUFFS AND TOBACCO The visibile supply of wheat was larger than a year ago. Receipts, shipments, and exports of wheat were each larger also than last year. The visible supply of corn exceeded that of a year ago. Corn shipments at primary markets were likewise larger than last year 16 while receipts and exports showed declines from April a year ago. Wheat prices were lower and corn prices slightly higher than for either the previous month or the corresponding month of the preceding year. Receipts and shipments of cattle and calves at the principal primary markets were smaller than during either the previous month or the corresponding month of a year earlier. Prices for cattle continued higher than for either the previous month or the same month of last year. Receipts and shipments of hogs at primary markets were smaller than in March, receipts being slightly larger and shipments smaller than in April, 1926. Prices of pork and pork products aver- eggs made similar comparisons with both prior periods. The total fish catch, although smaller than in the previous month, was greater than a year ago. Imports of raw sugar were larger than in March but considerably less than a year ago. Meltings, while less than in March, exceeded those of April, 1926, and exports of refined sugar showed the same tendency. The wholesale prices of raw and refined sugar were unchanged from the previous month, but were considerably higher than a year ago. Imports of coffee were larger than during March and only slightly less than a year ago, with declines from both periods registered in the visible world supply. THE FOODSTUFF INDUSTRIES [Relative numbers, monthly average 1923-1925 taken as 100. April, 1927, is latest month plotted] 1920 1921 1922 1923 1924 1925 1926 1927 1920 1921 1922 1923 1924 1925 1926 1927 1920 1921 1922 1923 1924 1925 1926 1927 1920 1921 1922 1923 1924 1925 1926 1927 aged lower than in either prior period. Receipts and shipments of sheep and lamb declined from both the previous month and April, 1926. Receipts of poultry at principal markets recorded a decline as compared with both the previous month and April, 1926, but storage holdings at the end of April were considerably larger than a year ago. Butter and cheese receipts were larger than in either the previous month or April of last year. Cold-storage holdings of butter were substantially smaller than a year ago. Storage holdings of cheese also showed a decline from last year. Egg receipts in April were considerably larger than in either the previous month or the same month of 1926 while storage holdings of Receipts of coffee in Brazil were less than during the previous month but considerably larger than a year ago, while clearances declined from both periods, despite an increase over April, 1926, in clearances for the United States. Imports of tea declined slightly from March but exceeded those of last year. Tea stocks in the United Kingdom were practically the same as at the end of April, 1926. Exports of unmanufactured leaf tobacco and of cigarettes were considerably less in April than during either the previous month or the corresponding month of last year. The consumption of tobacco also declined from March and, except in the case of cigarettes, from a year ago. 17 Carloadings of goods showed an increase over a year ago, all classes of commodities, except coal and coke and forest products participating in the advance. The freight-car surplus at the end of April, while slightly larger than at the end of the previous month was less than a year ago. Traffic on inland waterways in the vicinity of Pittsburgh declined from April, 1926, although that on the Mississippi and through the Sault Ste. Marie Canals increased. stocks continued to increase and were at a substantially higher level than a year ago. Bond prices also averaged slightly higher than in either March or the corresponding month of last year. More business firms failed during April than during the corresponding month of 1926, with liabilities also showing an increase over those reported last year. There was a noticeable decline, however, both in the number and liabilities of failing concerns as compared with the previous month. DISTRIBUTION MOVEMENT GOLD AND SILVER AND FOREIGN TRADE Mail-order and 10-cent chain store business in April was uniformly greater than a year ago and, Imports of gold were less than during March but larger than a year ago. Exports of gold and domestic TRANSPORTATION BANKING AND FINANCE [Relative numbers, monthly average 1923-1925 taken as 100. April, 1927, is latest month plotted] 1920 1922 1923 1924 1925 1926 1927 1920 1921 1922 1923 1924 1925 1926 1927 1926 1927 BUSINESS PROFITS AND LOSSES 1920 1921 1922 1923 1924 1925 1926 1927 with exception of mail-order business, sales also exceeded those of the previous month. Newspaper and magazine advertising were greater than in March, while magazine advertising also exceeded that of a year ago. Postal receipts declined from the previous month but were larger than a year ago. 1920 1921 1922 1923 1924 1925 receipts at the mint, on the other hand, declined from both prior periods. The production in the United States and imports of silver also declined both from the previous month and April, 1926, and exports, while larger than in March, were less than a year ago. Exchanges on the principal foreign countries showed little change from the previous month, except in the BANKING AND FI ANCE case of the Italian lira which showed a marked inCheck payments, both in and outside New York crease. Compared with a year ago, rates of exchange City declined from March but exceeded April, 1926. on France, Italy, Japan, and Argentina increased, Loans and discounts by Federal reserve member while the rate on Brazil declined substantially. banks were practically the same as during the pre- April imports of merchandise into the United States vious month and larger than a year ago. Interest were less than during the previous month or the corrates showed a slight upward tendency but were responding month of last year. Exports, however,, generally less than during April, 1926. Prices of were larger than for either prior period. 48401—27 3 18 INDEXES OF BUSINESS The index numbers presented in this table are designed to show the trend in production, prices, trade, etc., in various groups of industry and commerce. They consist in general of weighted combinations of series of individual relative numbers; often the individual relative numbers making up the series are also given. The function of index and relative numbers is explained on the inside front cover. A condensed form of this table is given on page 9. 1926 PEE CENT INCREASE (+) OR DECREASE (— ) 1927 Maximum since Jan. 1, 1920 Minimum since Jan. 1, 1920 February March April February March April 180 73 92 97 89 108 113 96 15 0 + 7.9 165 239 155 122 273 152 193 149 131 145 62 105 41 0 0 17 78 38 57 80 113 173 120 28 0 135 169 132 75 107 130 192 119 120 0 150 185 140 59 110 122 190 103 112 0 145 166 139 77 105 137 215 136 80 0 137 171 136 67 105 152 239 155 83 0 137 193 141 75 108 127 229 89 97 40 140 193 136 70 91 -16.4 4 2 -42.6 + 16.9$. + 2.2 + 4.1 + 20.5 13 6 -13^4 -3.5 -6.7 -15.7 -3. 4 + 16.3 -2.2 -9. 1 13 3 138 253 143 177 153 245 390 185 190 80 19 58 64 54 30 21 45 94 95 29 76 90 66 90 97 85 124 113 65 88 96 75 147 89 137 141 110 50 83 84 66 176 71 107' 140 99 36 76 89 66 99 96 112 132 118 48 85 101 69 168 80 165 151 119 53 82 84 66 230 71 118 145 + 0.8 + 10.4 -3. 5 -16. 8 — 4. 3 + 36.9 -11.3 -28. 5 4 1 + 8.2 + 6. 0 -1.2 0.0 0.0 + 30. 7 0.0 + 10.3 + 3. 6 246 242 254 405 346 170 49 43 58 50 12 19 79 82 97 75 74 79 70 68 133 87 65 41 57 56 102 84 52 32 103 89 119 94 118 100 93 72 155 95 117 61 67 52 150 118 ' 74 23 28.0 -27.8 -3.2 + 24.2 -36. 8 -62. 3 + 17.5 -7. 1 + 47. 1 + 4Q. 5 + 42. 3 -28. 1 136 137 164 267 149 61 59 51 20 24 114 119 97 45 104 126 132 110 31 113 124 125 129 74 115 103 107 90 42 100 112 115 108 66 110 115 110 129 189 101 + 2.7 -4.3 + 19.4 + 186. 4 -8.2 7.3 -13. 6 0.0 + 155. 4 -12.2 136 142 129 133 152 166 115 127 210 174 195 137 164 71 68 77 54 32 57 63 69 92 69 71 70 37 130 121 94 106 128 145 77 113 164 85 152 105 132 132 138 106 117 150 159 88 127 173 115 176 127 154 132 132 101 106 140 154 82 127 166 136 168 116 153 129 120 97 113 127 127 86 106 176 90 149 107 126 136 142 114 133 151 138 98 117 190 138 171 127 159 136 136 113 115 139 129 90 114 183 144 116 120 164 0.0 -4.2 -0.9 -13.5 -7. 9 -6.5 -8.2 -2.6 -3.7 + 4.3 -2.9 -5. 5 + 3. 1 + 3.0 + 3.0 + 11.9 + 8.5 -0.7 16. 2 + 9.8 -10.2 + 10. 2 + 5. 9 -1. 2 + 3.4 + 7.2 April, 1927, April, 1927, from March, from April, 1927 1926 PRODUCTION (Relative to 1919 monthly average as 100) RAW MATERIALS Grand total MINERALS Total Petroleum Bituminous coal Anthracite coaL Iron ore* Copper. Lead _ _ _ _ Zinc _. Gold Silver _ _ _ _ _ _ _ _ _ _ _ _ 0.000 ANIMAL PRODUCTS (marketings) Total Wool* Cattle and calves Hogs Sheep Eggs* Poultry Fish Milk (New York) _ _ _ CROPS (marketings) Total Grains* _ Vegetables* _ Fruits* Cotton products* Miscellaneous crops*-. FOREST PRODUCTS Total - _ Lumber Pulp wood Gum (rosin and turpentine) * Distilled wood MANUFACTURING Grand total (adjusted for working days) » Grand total (unadjusted) Foodstuffs Textiles _ Iron and steel Lumber Leather Paper and printing Chemicals, oils, etc _ Stone and clay products _ Metals, excepting iron and steel Tobacco Miscellaneous * Fluctuations between maximum and minimum due largely to seasonal conditions. 19 INDEXES OF BUSINESS—Continued PER CENT INCREASE (+) OR DECREASE (— ) 1927 1926 Maximum since Jan. 1, 1920 Minimum since Jan. 1, 1920 February March April February March April 198 346 201 121 201 94 73 85 58 86 168 227 186 74 174 158 198 173 80 169 161 206 158 95 169 191 279 201 68 197 182 251 197 69 195 172 219 189 73 190 -5.5 -12.7 4 1 + 5.8 -2.6 + 6.8 + 6.3 + 19.6 -23. 2 + 12. 4 199 306 204 115 199 85 70 64 56 88 171 237 188 69 175 168 250 164 65 172 162 243 143 65 172 199 299 204 69 199 197 306 184 68 199 177 257 163 67 194 -10.2 -16. 0 -11. 4 1 ^ -2.5 + 9.3 + 5.8 + 14.0 + 3. 1 + 12.8 116 112 153 40 32 25 57 44 110 55 43 105 51 38 104 48 36 94 50 36 105 50 35 114 0.0 -2. 8 + 8. 6 -2.0 -7.9 + 9.6 126 129 136 135 133 150 1 89 60 59 43 62 88 58 1 46 76 87 50 71 110 85 75 85 106 73 81 133 93 75 80 103 59 79 123 77 76 73 82 53 69 104 78 73 83 107 73 79 130 90 71 79 103 67 77 122 75 71 4 8 -3. 7 -8.2 2 5 -6. 2 -16.7 0. 0 12 0. 0 + 13. 6 2 5 -0. 8 -2. 6 -6. 6 170 49 111 130 120 107 132 128 -3.0 + 6.6 466 223 387 261 222 303 215 84 55 119 109 106 109 72 170 103 287 172 127 173 97 199 112 302 194 143 206 143 202 111 329 191 150 226 166 191 98 332 201 137 194 110 213 108 387 224 153 216 125 244 104 381 + 14.6 -3. 7 -1.6 + 20.8 -6.3 + 15. 8 157 257 198 + 2. 6 + 19. 0 + 58.4 + 4.7 + 13. 7 + 19.3 234 156 80 100 104 131 130 142 133 143 106 131 128 142 143 143 + 11.7 + 0.7 + 7.5 0.0 102 107 103 104 103 105 104 105 105 107 108 103 107 2 85 2 86 2 81 2 79 2 83 2 83 2 93 2 84 2 89 2 66 2 78 2 75 2 93 89 90 93 90 93 102 101 94 102 89 94 98 94 88 90 93 90 91 103 105 96 103 88 96 98 93 86 88 93 92 87 103 103 99 101 84 95 97 91 88 90 90 83 92 104 100 91 93 84 85 103 91 87 90 90 83 92 104 105 95 95 84 86 103 91 86 88 89 83 87 104 105 98 94 82 i 87 102 0.0 -2.2 0.0 0.0 -4.3 -9.8 0.0 + 1.0 + 1.9 -1.0 -6.9 -2. 4 -8.4 + 5.2 April, 1927, from March, 1927 April, 1927, from April, 1926 STOCKS (Relative to 1919 monthly average as 100) (Corrected for seasonal variation) Total Raw foodstuffs Raw materials for manufacture Manufactured foodstuffs _ Other manufactured commodities-. (Unadjusted index) Total Raw foodstuffs Raw materials for manufacture, _ _ Manufactured foodstuffs Other manufactured commodities, _ UNFILLED ORDERS (Relative to 1920 monthly average as 100) (Iron, steel, and building materials) I Total (8 commodities) _ Iron and steel Building materials WHOLESALE TRADE (Relative to 1919 monthly average as 100) (Distributed by Federal reserve districts) Grand total, all classes Hardware (10 districts) Shoes (8 districts) Groceries (11 districts) Drugs (7 districts) Dry goods (8 districts) Meats _ _ RETAIL TRADE (Relative to 1919 monthly average as 100) MAIL-ORDER HOUSES (4 houses) CHAIN STORES: Ten-cent (5 chains) Music (4 chains) Grocery (27 chains) Drugs (9 chains) Cigar (3 chains) Candy (5 chains), Shoe (6 chains) DEPARTMENT STORES: Sales (359 stores). Stocks (314 stores) EMPLOYMENT (Relative to 1923 monthly average as 100) Number employed, by industries : Total, all classes,. _ _ _ Food products_ _ Textiles Iron and steeL Lumber _ __ _ Leather Paper and printing. __ _ Chemicals Stone, clay, and glass _ _ _ Metal products other than iron and steel. Tobacco products Vehicles _ _ Miscellaneous _ * Revised. 2 2 2 2 2 2 2 2 2 2 2 2 2 80 i Since Jan. 1. 1921. 2 Since July 1, 1922. -1. 1 -2. 2 -1. 1 0.0 -5. 4 0.0 0.0 + 3.2 -1. 1 -2.4 + 1.2 -1.0 20 INDEXES OF BUSINESS—Continued 1Q9. 19£ 1936 Minimum since Jan. 1, 1920 February March 105 107 106 108 106 108 116 110 112 110 112 107 112 2 74 2 85 2 72 2 62 2 84 2 70 2 88 2 85 2 84 2 70 2 78 2 60 2 72 98 93 93 99 96 91 110 101 101 104 86 98 102 99 92 93 101 96 90 112 106 104 107 90 100 103 235 283 373 186 215 304 180 110 88 108 91 122 76 74 143 140 218 146 144 142 87 140 133 220 147 137 133 85 Maximum since Jan. 1, 1920 PER CENT INCREASE (+ ) OR DECREASE (-) * ! ! April, 1927, from March, 1927 April, 1927, from April, 1926 April i February March 97 89 87 j 100 97 82 111 105 105 104 84 99 103 96 92 94 96 89 92 113 106 98 95 81 89 109 98 91 94 98 91 90 114 110 103 98 82 91 111 97 90 89 96 90 84 113 110 106 1 91 79 93 113 | -1.0 -5.3 -2.0 -1. 1 -6.7 -0.9 0.0 4-2.9 -7. 1 -3.7 + 2. 2 + 1.8 + 2.3 -4.0 -7.2 + 2.4 + 1.8 + 4.8 + 1.0 -12. 5 -6.0 -6. 1 + 9.7 140 131 253 146 133 135 83 127 122 142 143 143 94 84 126 121 140 144 133 102 81 125 119 147 143 133 101 80 -0.8 -1.7 + 5.0 -0.7 0. 0 -1.0 -1. 2 -10. 7 -9.2 -41. 9 -2. 1 0.0 -25. 2 -3.6 April EMPLOYMENT— Continued (Relative to 1923 monthly average as 100) Amount of pay roll, by industries: Total, all classes _ Food products Textiles Iron and steel Lumber _ Leather _ -_ Paper and printing Chemicals Stone, clay, and glass. Metal products other than iron and steeL Tobacco products Vehicles - - -Miscellaneous _ - _- 2 2 2 2 2 2 2 2 2 2 2 2 2 -1. 1 0. 0 +1. 1 PKICE INDEX NUMBERS FARM PRICES (Relative to 1909-1914 average as 100) All groups - - Grains -Fruits and vegetables Meat animals Dairy and poultry __ _ Cotton and cottonseed Unclassified WHOLESALE PRICES Department of Labor Indexes (Relative to 1913) i All commodities _ Farm products Food, etc - __ _ ----Cloths and clothing _ Fuels _ Metals and metal products Building materials Chemicals - House-furnishing goods Miscellaneous Classified by state of manufacture : Producers' goods Consumers' goods Raw materials -- -- - 248 243 248 346 281 203 300 213 275 208 138 114 131 168 161 109 155 121 157 111 155 150 153 184 179 128 177 132 164 133 152 144 151 181 175 128 176 132 164 128 151 145 153 177 174 127 173 130 163 127 146 137 148 169 177 122 168 122 158 119 145 137 147 168 168 123 167 121 157 119 144 137 147 169 161 ! 122 165 122 157 119 -0.7 0.0 0.0 + 0. 6 -4.2 -0.8 -1. 2 + 0.8 0.0 0.0 -4.6 -5.5 -3. 9 -4. 5 -7.5 -3.9 -4.6 -6.2 -3. 7 -6.3 244 249 249 118 146 135 130 163 161 128 162 154 128 163 152 I 124 156 150 122 155 149 120 155 147 -1.6 0.0 -1.3 -6.2 -4.9 -3.3 218 227 134 115 159 145 157 142 156 140 151 136 151 136 151 135 0.0 -0.7 -3.2 -3. 6 205 219 186 288 3 179 208 123 I 192 155 139 143 153 156 174 118 171 170 162 177 176 169 195 118 175 169 160 177 176 166 190 118 175 168 162 176 175 162 184 ! 118 173 165 156 172 172 167 190 121 174 164 154 172 172 166 189 122 173 164 154 171 172 161 181 122 173 0.0 0.0 -0.6 0.0 -3.0 -4.2 0.0 0.0 -2.4 -4.9 -2.8 -1.7 — 0. 6 -1.6 + 3.4 0.0 Commercial Indexes '(Relative to 1913) Dun's (1st of following month) Bradstreet's (1st of following month) _ COST OP LIVING National Industrial Conference Board Indexes (Relative to July, 1914) All items weighted Food (Dept. Labor) Shelter Clothing _ Fuel a n d light _ _ _ _ _ _ Fuel Light Sundries _ _ _ __ __ _ __ _ _ -__ _ 2 Since July 1, 1922. 8 s Since Jan. 1, 1923. 21 AUTOMOBILE TIRES1 [Thousands] PNEUMATIC TIRES YEAR AND MONTH Production January February March April -- M!ay 1933 ; -- - - _ _ June July August September ____._-_--- _ - - - - - November December ;-- ----- --- . Total -- - --Monthly average. _- 1933 February March April May - -. -- - JUly _. September October November - - - - - Total Monthly average 1934 January April - July --- -._ , September October - November December - - - - -- - Total Mlonthly average 1935 January • - February March - April - - Jy£ ay June July August - - September October -November December '-. - - -- - Total Monthly average 1936 January February M!arch - April . May June --July. August September - October N ovemb er December Total . .Monthly average January February March 1937 -- Stocks, end of month Shipments Domestic SOLID AND CUSHION TIRES INNER TUBES Production Export Stocks, end of month Shipments Domestic Production Export Stocks, end of month Shipments Domestic Export 2,061 2,095 2,665 2,415 2,736 2,856 2,495 2,924 2,520 2,690 2,749 2,670 4,247 4,460 5,242 5,533 5,583 5,093 4,882 4,674 4,658 4,729 5,011 4,638 1,598 1,565 2,073 2,085 2,642 3,134 2,696 3,031 2,508 2,589 2,380 2, 935 57 53 80 69 87 97 89 106 67 75 68 118 2,349 2,606 3,035 2,661 2,982 3,145 3,076 3,820 3,511 3,802 3,860 3,420 5,286 6,181 7,036 7,275 7,234 6, 234 5,720 5,245 5,203 5,529 6,252 5,771 1,890 1,703 2,093 2,328 2,941 3,974 3,632 4,221 3,559 3,421 3,075 3,827 29 35 53 49 66 78 56 94 49 51 55 80 41 40 50 47 58 67 72 85 84 87 87 78 183 185 183 175 172 171 177 191 201 215 236 245 48 52 61 63 60 69 67 71 61 65 33 37 6 2 2 2 3 4 3 4 4 4 4 7 30, 876 2,573 58,750 4,896 29,231 2,436 966 81 38, 267 3,189 72, 966 6,081 36, 664 3,055 695 58 796 66 2,334 195 687 57 45 •4 3,139 3,236 3,891 3,563 3,685 2,980 2,005 2,368 2,036 2,367 2,405 2,441 4,735 5,264 5,710 6, 133 6,953 7,092 6,524 6,112 5,446 4,923 4,732 4,372 2,995 2,589 3,325 2,977 2,760 2,493 2,541 2,808 2,624 2,191 2,457 2,604 105 102 128 122 104 103 68 56 58 53 107 60 3,962 4,055 4,893 4,275 4,339 3,606 2,636 3,586 3,262 3,861 3,453 3,290 5,874 6,814 7,791 8,442 9,343 8,974 7,445 7,002 6,508 6,952 6,743 6,363 3,749 3,002 3,829 3,537 3,414 3,581 3,943 4,304 3,684 3,597 3,424 3,498 78 71 92 99 90 95 96 52 47 44 34 55 85 78 83 73 79 74 43 50 39 38 34 37 264 273 269 264 272 284 267 265 252 237 216 180 61 63 77 73 67 52 45 46 46 48 49 62 6 5 8 5 6 5 5 5 5 5 5 4 34, 116 2,843 67,996 5,666 32, 364 2,697 1,066 89 45, 218 3,768 88, 251 7,354 43, 562 3,630 853 Zl 713 59 3,043 254 689 57 64 5 3,225 3,284 3,433 3,315 3, 048 2,638 2,559 3,241 3,539 3,882 3,196 3,444 4,848 5,306 5, 798 6,199 6,364 6,186 5, 168 4,504 4,550 5,362 5,230 5,951 2,785 2,801 2,903 2,922 2,681 2,664 3,485 3,688 3,319 3,046 3,274 3,009 60 71 98 100 98 100 85 76 94 108 94 106 3,890 4,070 4,223 4,041 3,755 3,501 3,863 5, 024 5,512 5,902 4,605 4,707 6,768 7,378 8,191 8,659 8,794 8,194 6,660 5,788 6,067 7,381 7,695 8,313 3,476 3,330 3,421 3,522 3,562 3,859 5,319 5,552 5,119 4,177 4,679 4,066 70 74 89 71 97 116 82 74 68 103 75 92 56 62 70 72 66 52 43 54 55 59 51 59 186 192 206 215 223 215 205 185 182 184 188 194 43 49 58 55 56 55 48 57 57 54 47 48 4 4 4 3 4 4 3 4 3 38,804 3, 34 65, 106 5,426 36, 577 3,048 1,090 91 53, 093 4,424 89, 883 7,490 50, 082 4,174 1,011 84 699 58 2,375 198 627 52 45 4 3, 560 3,687 3,964 4,012 4,106 4,072 4,199 4,214 3,764 3,389 3,181 3, 579 5,981 6,716 7, 152 6,836 6,477 5, 449 4,830 5,459 5,774 5,015 5, 229 6,119 2,995 2,836 3, 393 4,014 4,333 4,950 4,624 3,455 3,294 4,090 2,667 2,597 111 111 108 116 139 112 111 125 143 105 93 113 4,761 4, 758 5, 254 5,158 5,138 5, 215 5,666 5,718 5, 454 4,966 4,708 5,253 7,800 9,788 10, 696 10, 247 9,396 7,828 6,495 6,973 7,490 6,564 7,139 8,495 4,108 3,625 4,177 4,935 5,908 6,683 6,761 5,102 4,852 5,764 3,982 3,665 79 107 112 97 126 98 99 94 153 128 79 82 54 55 58 68 77 87 78 77 67 53 49 59 199 194 177 168 158 155 155 172 184 171 159 150 41 52 66 66 82 85 70 52 47 64 54 61 5 5 6 7 6 8 6 7 7 8 8 8 45, 727 3,811 71, 037 5,920 43, 248 3,604 1,387 116 62,049 5,171 99, 811 8,318 59, 562 4,964 1,254 105 782 65 2,042 170 740 62 81 7 3,548 3,657 4,099 4,014 3,771 4, 072 3,718 4,411 4,286 3,833 3,250 3,520 7,475 8,390 9,022 9,363 9,271 8,989 7,956 7,311 7,001 7,454 7,810 7,856 2,142 2,500 3,335 3,642 3,829 4,208 4,683 4,973 4,452 3,318 2,708 3,413 94 82 91 99 86 91 76 91 84 89 98 132 5,110 5,123 5,275 4, 918 4,615 4,633 4,301 5,572 5,698 4,665 3,644 3,961 10, 781 12, 829 14, 360 15, 518 15, 866 15, 194 12, 961 11, 709 11, 497 11, 970 12, 469 12, 165 2,728 2,750 3,672 3,727 4,654 5,097 6,381 7,114 5,755 4,046 2,984 4,027 67 54 70 53 78 80 48 74 69 61 54 74 60 61 59 51 45 43 35 44 44 45 45 46 174 199 222 218 214 215 181 181 168 159 158 168 30 26 33 47 44 45 45 53 52 51 38 34 6 5 5 6 4 5 3 4 4 5 7 7 46, 179 3,848 97, 898 8,158 43, 203 3,600 1,113 93 57, 515 4,793 157, 319 13, 110 52, 935 4,411 782 65 578 48 2,257 188 498 42 61 5 3,534 3,204 4,094 7,839 8,298 8,705 3,534 3,204 4,094 172 151 199 4,007 3,724 5, 395 11,704 12, 595 12, 839 4,428 3,763 4,534 89 80 90 44 46 57 166 163 159 36 40 53 7 8 8 3 5 * Compiled by the Rubber Association of America from reports of from 40 to 45 firms each month, estimated to represent about 75 per cent of the industry. Previous to 1923 the number of reporting firms varied from 36 to 66, but this variation is not believed to affect the totals to any great degree, except for the omission of the Firestone Tire Co., beginning in September, 1921. These figures are revised from previous reports by the inclusion of millimeter sizes throughout and the inclusion of cushion with solid tires. Details by classes and sizes are given in the associations' reports. 22 AUTOMOBILE PRODUCTION IN THE UNITED STATES [Number of Vehicles] 1913 1914 1915 1916 1918 1917 1919 1920 mi 1922 1923 1924 1925 1926 1927 239, 302 271, 601 351, 426 371, 460 385, 525 371, 301 323, 815 340, 240 321, 819 358, 698 308, 225 300, 843 312, 282 361, 762 375, 355 367, 024 303, 699 241, 817 260, 493 276, 968 287, 356 284. 983 224, 082 199, 524 230. 887 274, 373 362, 116 421,993 406, 259 386, 887 387, 214 250, 574 319, 770 436, 225 364, 347 308, 711 300, 612 354, 431 422, 728 430, 523 417, 211 380, 372 354, 394 422, 294 393, 356 329, 142 250, 950 163, 429 234, 228 298, 759 386, 841 397, 566 MONTH TOTAL PASSENGER CARS AND TRUCKS January February March April _ ._ May June July August September October November . December Total Mo. av 35, 662 35,663 45, 273 60, 335 57, 199 53,581 34,808 31, 416 29,860 28, 537 32, 276 40, 390 45,644 48, 482 60, 211 70, 367 56,354 44, 975 30,987 48, 373 53, 523 44,264 32, 698 33,176 485,000 40, 417 569, 054 47, 421 31, 253 49, 309 94, 311 101, 910 88,390 91, 059 65,604 82, 082 98, 861 89, 127 84,769 93, 255 107, 402 124, 546 162, 074 152, 529 155, 950 139, 794 120, 755 106, 623 140, 281 134, 393 140, 255 133, 106 122, 002 144, 674 165, 622 172, 045 185, 721 172, 656 164, 764 146, 454 162. 883 165, 333 156, 716 115, 079 92, 208 106, 962 132, 142 153, 673 143, 003 118, 859 118, 060 89,542 59, 555 50, 311 43,244 63, 127 93, 779 114, 598 146, 091 165, 229 176, 484 166, 575 164, 831 165, 414 180, 786 207, 222 190, 321 162, 265 187, 937 188, 030 229, 212 173, 398 210, 019 225, 677 209, 652 205, 205 188, 514 165, 298 134, 975 109, 432 53, 237 70, 599 112, 453 152, 201 156, 805 190, 520 176, 870 181, 270 158, 760 148, 009 116, 644 79, 455 89, 374 117, 871 171, 487 219, 394 255, 622 278, 876 245, 755 270, 838 203, 927 232, 824 232, 923 225, 285 969, 930 1, 617, 708 1, 873, 949 1, 170, 686 1, 933, 595 2, 227, 349 1, 596, 823 2, 544, 176 3, 944, 255 3, 495, 345 4, 149, 356 4, 219, 442 134, 809 156, 162 97, 557 133, 069 80, 828 161, 133 185, 612 212, 015 291, 279 351, 620 328,688 345, 780 PASSENGER CARS January February March April.. May June July August September October November December _ Total Mo. av 34, 483 34, 423 43, 887 57,584 54, 871 51, 512 33, 165 29,227 27, 035 25, 902 30, 639 38, 781 44, 364 46,609 57, 972 67, 990 53, 521 42, 991 29,236 46, 793 52, 095 41, 588 30, 538 29, 982 461, 509 38, 459 543, 679 45, 307 28, 304 44, 919 88, 583 95, 537 81, 054 83, 813 59, 111 76, 246 91, 797 80, 539 78, 193 87, 834 100, 806 117,460 153, 175 143, 371 147, 840 133, 363 112, 810 99,330 132, 115 125, 889 131, 841 127, 578 116, 815 138, 759 157, 882 163, 618 175, 583 162, 926 154, 638 132, 234 148, 572 152, 088 140, 837 101, 840 895, 930 1, 525, 578 1, 745, 792 74, 661 127, 132 145, 483 4 81, 611 95, 202 112, 279 130, 361 118, 638 97, 194 93,909 67, 058 39, 591 30, 119 29, 941 47, 533 76, 422 97, 126 124, 559 145, 359 154, 792 144, 805 142, 135 140, 479 154, 119 177, 270 161, 600 138, 986 157, 115 158, 921 193, 641 149, 457 182, 027 192, 826 181, 051 176, 234 160, 520 138, 031 118,944 96, 793 45, 397 60, 326 98. 941 137, 640 144, 097 177, 086 165, 616 167, 756 144, 670 134, 774 106, 081 70, 727 219, 885 249, 971 318, 415 335, 143 344, 038 332, 760 295, 320 311, 958 295, 815 330, 700 281, 951 273, 980 80, 194 104,936 152, 311 197, 903 232, 439 252, 704 223, 823 246, 867 184, 485 211, 164 210, 955 205, 142 283, 983 331, 388 341, 851 331, 957 271, 033 214, 322 235, 925 249, 796 256, 940 254, 524 198, 381 174, 899 205, 550 243, 176 321, 200 377, 747 366, 197 352, 261 348, 984 216,087 263, 855 394, 096 328, 694 278, 643 272, 922 319, 763 381, 116 383, 907 373, 140 339, 570 317, 006 380, 282 350, 923 289, 565 219, 504 137, 361 196, 986 260, 641 341, 675 353, 071 943, 436 1, 657, 652 1, 905, 560 1,453,111 2, 302, 923 3, 589, 936 3, 144, 999 3, 696, 490 3, 765, 059 121, 093 158, 797 299, 161 78, 620 138, 138 191, 910 262, 083 313, 755 308, 041 TRUCKS January. _ February March April May June July August September October November December __ Total Mo. av 1,179 1,240 1,386 2,751 2,328 2,069 1,643 2,189 2,825 2,635 1,646 1,609 1,280 1,873 2,239 2,377 2,833 1,984 1,751 1,580 1,428 2,676 2,160 3,194 2,949 4,390 5,728 6,373 7,336 7,246 6,493 5,836 7,064 8,588 6,576 5,421 6,596 7,086 8,899 9,158 8,110 6,431 7,945 7,293 8,166 8.504 8,414 5,528 5,187 5,915 7,740 8,427 10, 138 9,730 10, 126 14, 220 14, 311 13, 245 15, 879 13, 239 10, 597 11, 760 19, 863 23, 312 24, 365 21, 665 24, 151 22,484 19,964 20, 192 13, 303 15, 594 17, 357 17, 472 21, 532 19, 870 21, 692 21, 770 22, 696 24, 935 26, 667 29,952 28, 721 23, 279 30, 822 29,109 35, 571 23, 941 27, 992 32, 851 28, 601 28, 971 27, 994 27, 267 16, 031 12, 639 7,840 10, 273 13, 512 14, 561 12, 708 13, 434 11, 254 13, 514 14,090 13, 235 10, 563 8,728 9,180 12, 935 19, 176 21, 491 23, 183 26, 172 21, 932 23, 971 19, 442 21, 660 21, 968 20, 143 19, 417 21, 630 33, Oil 36, 317 41, 487 38, 541 28, 495 28, 282 26,004 27, 998 26, 274 26, 863 28, 299 30, 374 33,504 35, 067 32, 666 27, 495 24, 568 27, 172 30, 416 30, 459 25, 701 24,625 25, 337 31, 197 40, 916 44, 246 40,062 34, 626 38, 230 34, 487 55, 915 42, 129 35, 653 30,068 27, 690 34, 668 41,612 46, 616 44, 071 40, 802 37, 388 42, 012 42, 433 39, 577 31, 446 26,068 23,500 1,958 25, 375 2,115 74,000 6,167 92, 130 7,678 128, 157 10, 680 227, 250 18, 938 275, 943 22, 995 321, 789 26, 816 143, 712 11, 976 241, 253 20,104 354, 319 29, 527 350, 346 29, 196 452, 866 37, 739 454, 383 37, 865 37, 242 38, 118 45, 166 44, 495 1 Data through June, 1921, compiled by the National Automobile Chamber of Commerce from actual monthly reports from the principal producers, covering close to 90 per cent of the industry, from quarterly reports of other member companies, prorated to monthly figures according to the relative output of the larger companies, and from annual figures of small nonmember companies, covering the balance of the industry, prorated to monthly figures according to the relative output of the companies reporting on a monthly or quarterly basis. Beginning with July, 1921, figures are actual reports from practically the entire industry compiled by the U. S. Department of Commerce, Bureau of the Census, including data from the National Automobile Chamber of Commerce. All these figures, revising data previously published, represent production or factory sales and cover the United States only. PRODUCTION OF PAINTS AND VARNISHES Paste paints Ready-mixed Varnishes, and semi- japans, and paste paints lacquers Thousands of pounds Thousands of gallons YEAR 1926, total Second half First half 1925, total Second half First half 1924, total Second half First half 1923, total Second half First half . 1922, total Second half ._ First half 421, 560 212, 537 _ ._ _ EXPORTS OF TIRE FABRICS 91,025 209,023 45, 623 45, 402 465, 285 224, 228 241, 057 487, 611 233, 867 253, 744 47, 260 52, 449 88, 274 43, 152 45, 122 439, 175 192, 021 247, 154 436, 295 227, 703 208, 592 38, 351 43, 719 66, 071 33, 440 32, 631 97,304 99,709 49, 086 48, 218 82, 017 40, 622 41, 395 70, 450 82,070 36, 149 70, 731 32, 849 37, 882 34,301 55,709 28, 877 26,832 1 Compiled by the U. S. Department of Commerce, Bureau of the Census, from reports of 549 establishments. Data for 32 establishments, reporting in 1925 but not in 1926, are included, these data representing between 1 and 5 per cent of the various totals for the second half of 1925. [Square yards] Year January. February March April May Total 1926 __ 98, 246 165, 726 105, 516 86, 414 105, 528 216, 659 172, 561 281, 887 _ June July . August September October November December January __ February March 1927 __ Others 212, 213 168, 987 142, 717 790 43>529 33, 315 31, 223 71, 376 3,018 83, 185 137, 216 139, 344 126, 997 55 992 61, 120 97, 4$6 122, 197 72 201 55, 191 34, 152 213, 641 89, 376 144 671 107,280 85, 216 112 995 81, 597 2, 003, 078 166, 923 787, 105 65, 592 1,215 973 101, 331 84, 823 11, 466 159, 104 78, 676 73, 357 91,908 96,369 246,624 Total Monthly average. _ Cord 251, 012 175, 045 1 Compiled by the Bureau of Foreign and Domestic Commerce. These figures are also included in the total exports of cotton cloth, 23 CENSUS OF MANUFACTURES: 1925—SUMMARY FOR ALL INDUSTRIES AND INDUSTRIAL GROUPS1 Wage earners Census Number of estab- (average year lishments number) INDUSTRY Wages added by Cost of materials Value of products Value manufacture 1925 1923 1921 1919 187, 386 195, 580 195, 555 213, 631 8, 383, 781 8, 768, 491 6, 937, 688 8, 989, 536 $10, 729, 469, 000 10, 999, 282, 000 8,192,952,000 10, 452, 586, 000 $35, 931, 148, 000 34,430,855,000 25,154,807,000 36, 988, 876, 000 $62, 705, 714, 000 60, 258, 470, 000 43,427,224,000 61, 737, 125, 000 $26, 774, 566, 000 25, 777, 615, 000 18,272,417,000 24, 748, 249, 000 Food and kindred products 1925 1923 48, 113 51, 118 664, 760 672, 472 793, 681, 000 785,555,000 7, 748, 678, 000 6, 766, 003, 000 10,418,536,000 9, 226, 523, 000 2, 669, 858, 000 2, 460, 520, 000 Textiles and their products . 1925 1923 24, 433 26, 767 1, 627, 141 1, 715, 361 1, 654, 013, 000 1,743,851,000 5, 348, 050, 000 5, 394, 648, 000 9, 122, 858, 000 9,462,634,000 3,774,808,000 4, 067, 986, 000 Iron and steel and their products, not including machinery 1925 1923 6,068 6,358 851, 270 892, 660 1, 284, 339, 000 1, 324, 588, 000 3, 734, 350, 000 4,152,918,000 6, 461, 668, 000 6,828,841,000 2, 727, 318, 000 2,675,923,000 1925 1923 21, 922 21,674 921, 145 931, 748 978, 375, 000 962, 542, 000 1,724,983,000 1, 666, 188, 000 3, 688, 552, 000 3, 633, 034, 000 1,963,569,000 1, 966, 846, 000 1925 1923 4,264 4,868 315, 288 344, 545 356, 246, 000 388, 630, 000 1, 015, 123, 000 1, 083, 345, 000 1, 767, 581, 000 1, 880, 085, 000 752, 458, 000 796, 740, 000 1925 1923 498 529 141, 121 137, 868 190, 563, 000 182, 084, 000 718, 840, 000 501, 163, 000 1, 255, 414, 000 958, 518, 000 536, 574, 000 457, 355, 000 1925 1923 26, 553 25,799 536, 766 527, 019 805, 516, 000 743, 050, 000 1, 614, 235, 000 1, 544, 418, 000 4, 143, 685, 000 3, 772, 288, 000 2, 529, 450, 000 2, 227, 870, 000 Chemicals and allied products 1925 1923 8,867 8,832 380, 595 384, 493 505, 886, 000 501, 205, 000 4, 180, 411, 000 3, 680, 407, 000 6, 430, 027, 000 5, 706, 866, 000 2, 249, 616, 000 2,026,459,000 Stone, clay, and glass products 1925 1923 8,478 8,317 353, 036 351, 692 467, 012, 000 453, 567, 000 603, 427, 000 573, 473, 000 1, 640, 652, 000 1, 563, 121, 000 1, 037, 225, 000 989, 648, 000 Metals and metal products, other than iron and steel 1925 1923 6,924 7,433 275, 292 296, 911 380, 781, 000 394, 024, 000 1, 946, 777, 000 1, 767, 072, 000 2, 833, 770, 000 2,634,031,000 886, 993, 000 866, 959, 000 1925 1923 2,623 3,672 132, 132 146, 337 111, 558, 000 120,462,000 425, 769, 000 515, 865, 000 1, 091, 001, 000 1, 044, 192, 000 665, 232, 000 528, 327, 000 Machinery, not including transportation equipment 1925 1923 11, 807 12, 147 858, 843 907, 707 1, 225, 359, 000 1, 253, 743, 000 1, 985, 367, 000 1, 891, 524, 000 5, 020, 281, 000 4, 727, 818, 000 3,034,^14,000 2, 836, 294, 000 Musical instruments and phonographs 1925 1923 461 535 46, 980 58, 329 62, 502, 000 75, 396, 000 98, 761, 000 123, 600, 000 231, 687, 000 282,531,000 132, 926, 000 158, 931, 000 Transportation equipment, air, land, and water 1925 1923 2,778 3,873 559, 578 606, 328 908, 488, 000 963, 939, 000 3, 389, 101, 000 3, 394, 505, 000 5, 451, 753, 000 5, 333, 480, 000 2, 062, 652, 000 1, 938, 975, 000 Railroad repair shops 1925 1923 2,363 2,348 457, 755 523, 430 668, 192, 000 772, 968, 000 563, 646, 000 631, 359, 000 1, 332, 679, 000 1, 520, OS3, 000 769, 033, 000 888, 734, 000 1925 1923 11, 234 11,310 262, 079 271, 591 336, 958, 000 333, 678, 000 833, 630, 000 794, 367, 000 1, 815, 570, 000 1, 684, 415, 000 981, 940, 000 890, 048, 000 All industries Lumber and allied products . Leather and its manufactures . __ _ Rubber products Paper, printing, and related industries _ ._ Tobacco manufactures ._ ._ Miscellaneous industries __ _ _. . _ „ ... _ 1 Compiled by Bureau o] the Census. Data for individual industries have been published in previous issues of the Survey beginning with July, 1926. Because of the fact that the products of many manufacturing establishments are used as materials by other establishments, the aggregate value of products as given above is considerably in excess of the total value of finished products in the form in which they reach the ultimate consumer. Figures relate to manufacturing plants with outputs valued at $5,000 and over. TREND OF BUSINESS MOVEMENTS The following table contains a summary of the monthly figures, designed to show the trend in importan t industrial and commercial movements. These data represent continuations of the figures presented in the latest semiannual number (February, 1927), in which monthly figures for 1926 and 1927 may be found, together with explanations as to the sources and exact extent of the figures quoted. The figures given below should always be read in connection with those explanations. Data on stocks, unfilled orders, etc.., are given as of the end of the month referred to. For explanations of relative numbers, including base periods, see introduction o n inside front cover. 1926 The cumulatives shown are through April, except where otherwise noted. Earlier data for items shown here may be found on pmges 26 to 134 of the February, 1927, "Survey" December 1927 January February PER CENT INCREASE (+) OR DECREASE (— ) 1926 Marth March April CUMULATIVE TOTAL PROM JANUARY 1 THROUGH APRIL 30 Perct. increase (+) or decrease (-) cumulative 1927 from 1926 Apr., 1927, from Mar., 1927 Apr., 1927, from Apr., 1926 1926 1927 38, 905 8,857 30, 048 +2.1 +10.7 -1.8 -28.0 +7.5 -38.4 145, 237 30, 357 114, 880 104, 897 30, 780 74, 117 -27.8 +1.4 -35.5 32, 653 37, 351 -12.6 -12.4 -10.5 -3.2 161, 104 188, 860 124, 310 152, 178 -22.8 -19.4 40, 093 -19.0 +9.7 165, 963 190,560 +14.8 -10.1 +1.0 -21.0 -12.0 -8.4 -16.1 -31.3 +40.0 -9.1 +12.5 3,227 179, 489 4,880 175, 427 +51.2 -2.3 2, 342, 378 2, 361, 007 4,111,285 2, 508, 364 +75.5 +6.2 April TEXTILES Wool Receipts at Boston: Total ...thous. of lbs_. 17,498 D omestic . thous . of Ibs 9,889 Foreign thous. of Ibs 7,609 Imports: In condition imported thous. of lbs._ 25,004 Grease equivalentthous. of lbs_. 30, 116 Consumption by textile mills, grease equivalent thous. of Ibs.. 47, 839 Stocks, grease equivalent, end of quarter: Total... thous. of Ibs.. 2 334, 578 Held by manufacturers thous. of lbs._ 2 160, 159 Held by dealers.. ._ thous. of lbs._ 2164,419 Machinery activity, hourly: Looms— Wide per ct. of hours active.. 72 Narrow per ct. of hours active 67 Carpet and rug.per ct. of hours active. . 65 Sets of cards per ct. of hours active. . 80 Combs __ per ct. of hours active 84 Spinning spindlesWoolen per ct. of hours active . 77 Worsted .per ct. of hours active. . 78 Prices: Raw, territory, fine, scoured ..dolls, per lb_. 1.08 Raw, Ohio and Pa. fleeces, % blood, combing, grease. .. dolls, perlb.. .44 Worsted yarn. _ dolls, per lb_. 1.40 Women's dress goods, French serge dolls, per yd_. 1.00 Men's suitings dolls, per yd.. 3.29 Cotton 19, 743 6,081 13, 662 29, 693 6,577 23, 116 27,436 8,600 18,836 28, 025 9,522 18, 503 45, 060 11,635 33, 425 27,542 33,399 34,072 41, 333 33,457 41, 275 29, 239 36, 171 48,002 55, 618 46, 389 45, 938 54,262 43,971 43, 932 1 « 331, 324 *4 176, 520 154 804 3 291, 657 3 161, 708 3 129, 948 68 65 65 75 84 64 62 64 75 89 61 63 66 80 81 72 75 74 71 77 66 ; 1.08 1.09 .44 1.38 .44 1.38 1.00 3.29 1.00 3.29 57 60 67 78 62 61 70 78 79 59 62 63 75 73 -6.6 -4.8 +1.5 -2.5 -4.9 -3.4 -3.2 +6.3 +4.0 +5.5 63 73 70 72 62 0.0 -4.5 +6.9 +1.6 1.08 1.08 1.21 1.15 0.0 -6.1 .44 1.38 .43 1.35 .48 1.50 .44 1.45 -2.3 -2.2 -2.3 -6.9 .98 3.29 .98 3.29 1.05 3.51 1.05 3.51 0.0 0.0 -6.7 -6.3 Receipts into sight.. _ thous. of bales 1,199 1,556 1,260 2,660 Imports, unmanufactured bales. . 39, 851 39, 702 56, 939 41, 267 Exports, unmanufactured (including linters) . bales 1, 531, 297 1,115,792 1, 010, 507 1, 129, 537 Consumption by textile mills bales. _ 605, 217 604, 584 590,447 694, 193 Stocks, domestic, end of month: Total, mills and w'houses thous. of bales 7,377 6,472 7,923 8, 245 Mills thous. of bales. . 1,933 1,853 1,980 1,766 Warehouses thous. of bales 5,444 4,492 6,070 6,479 Stocks, world visible, end of month: Total thous. of bales. _ 8,533 8,796 7,795 8,519 American _ . thous. of bales 6,860 7,227 6,178 7,229 Machinery activity of spindles: 32, 872 Active spindles . . thousands . . 82, 496 32,634 32, 919 Total activity millions of hours 8,266 8,558 9,629 8,563 222 229 Activity per spindle . __ . hours. . 260 229 Ratio to capacity per cent 106.8 109.7 102.3 100.3 Prices: To producer dolls, per Ib .115 .125 .106 .100 In New York, middling dolls, per lb..140 .134 .144 .128 865 37, 519 701 45, 726 618 33, 348 855, 449 619, 140 519, 732 635, 896 516, 494 577, 678 -24.3 -10.8 +65.6 +7.2 5,571 1,895 3,676 5,936 1,772 4,164 5, 166 1,637 3,529 -13.9 -4.3 -18.2 +7.8 +15.8 +4.2 7,380 5,718 5, 957 4,278 5,486 3,805 -5.3 —7.4 +34.5 +50.3 32, 892 8,805 238 105.8 33, 245 9,169 242 102.2 32, 891 8,345 221 98.2 -0.1 -8.6 -8.5 —3. 6 0.0 +5 5 +7.7 +7.7 .123 .146 .165 .194 .166 .192 -1.6 +1.4 -25.9 -24.0 Cotten Goods Cotton finishing: Billings, finished goods (as produced) thous. of yds.. 85,179 Orders received, gray yardage _ thous. of yds.. 76, 354 Shipments, finished goods cases.. 45,564 Stocks, finished goods, end mo cases.. 38, 012 Operating activity per ct. of capacity 66 Unfilled orders, end of month days.. 5.0 Cotton textiles:* Total (9 groups)— Production thous. of yds.. 257, 467 Stocks, end of month thous. of yds_. 247, 234 Unfilled orders, end mo.thous. of yds.. 324, 943 Drills and twillsproduction thous. of yds._ 18, 202 Stocks, end of month thous. of yds._ 15, 625 Unfilled orders, end mo.thous. of yds.. 13. 099 * See table on p. 21 of May, 1927, issue for earlier data, i 1 75, 510 83,554 108, 067 91, 675 i 98,321 90, 938 -15.2 +0.8 I 349, 799 358, 806 +2.8 88,603 48, 936 36, 581 69 6.8 91,402 48, 968 34, 971 82 7.0 102, 327 59, 519 36, 178 82 6.8 85, 323 51, 869 38, 275 78 6.2 97, 436 54, 452 41,329 74 7.4 79, 606 49, 301 42,350 67 6.3 -16.6 -12.9 +5.8 -4.9 -8.8 +7.2 +5.2 -9.6 +16.4 i -1.6 349, 285 197, 354 367, 655 209,292 +5.3 +6.0 228, 933 216, 212 441, 799 232, 611 190, 520 454, 140 277, 052 162, 438 445, 171 237, 185 176, 681 474, 530 248, 755 245, 122 234, 338 206, 431 267, 586 220, 152 15, 285 14, 115 26. 759 Revised. 21, 578 17, 015 16, 946 15, 187 -20.1 +11.6 -5.9 74, 847 21, 200 70, 446 27,044 9,093 8,722 29, 001 +4.3 -68.6 11, 467 9.493 31. 677 6.865 +14.1 +361. 4 27. 283 27. 773 2 Quarter ending Dec. 31, 1926. f 3 Quarter ending Mar. 31, 1927. 4 Quarter ending Mar. 31, 1926. -14.4 +14.9 +8.8 -34.0 +6.6 +115. 5 975, 781 -::::::::: 25 TREND OF BUSINESS MOVEMENTS—Continued 1926 The cumulatives shown are through April, except where otherwise noted. Earlier data for items shown here may be found on pages 26 to 134 of the February, 1927, "Survey" February PER CENT INCREASE (+) OR DECREASE (— ) 1926 1927 Apr., 1927, Apr., 1927, Mar., 1927 Apr., 1926 CUMULATIVE TOTAL PROM JANUARY 1 THROUGH APRIL 30 Per ct. increase ( } or tdecrease (-) cumulative 1927 from 1926 December January 12, 491 9,544 21, 094 12, 149 9,451 29, 054 13, 192 8,617 27, 519 15, 840 7,679 28, 775 13, 825 8,474 28, 735 7,061 3,250 12, 435 6,144 5,258 10, 483 80,907 42, 275 103, 762 69, 492 29, 613 124, 766 69, 105 21, 298 116,345 83,283 14, 546 122, 822 66, 048 16, 166 134, 751 89, 405 40, 215 60,218 26, 522 53, 865 41,920 25, 147 48, 027 43, 149 23,859 43,635 44, 888 27, 070 40,207 45, 138 26, 214 42, 314 51, 026 35, 802 40, 866 58, 673 38, 349 41, 843 81,660 37, 199 39, 186 103, 094 39, 527 37, 726 92, 915 40, 413 40, 475 95,021 2,730 5,332 2,867 2,646 5,006 12,299 3,088 4,295 13, 144 3,110 3,917 11,318 3,221 4,075 9,859 9,832 2,662 18, 856 9,016 2,115 22,905 10,047 3,067 24, 519 12, 574 2,594 19, 301 10, 119 3,378 19, 053 9,845 7,333 14,233 7,035 7,601 13, 353 -19.5 +43.8 +30.2 -55.6 -1.3 +42.7 30,223 41, 756 +38.2 64,053 51, 290 55, 188 50,770 41, 980 91, 786 52, 622 35, 745 86, 978 66, 191 24,044 84, 714 53, 370 28, 232 89, 180 56, 742 21, 152 51, 327 46, 325 25, 683 41, 199 -19.4 +15.2 +17.4 +9.9 +5.3 +116. 5 195, 863 222, 953 +13.8 6,937 25, 775 9,484 470, 469 40, 361 6,079 24, 062 9,421 441, 484 39,834 6,484 23, 210 10, 370 423, 976 35, 859 8, 257 23,003 12, 415 551, 323 44, 553 7,029 24,474 15, 228 492, 467 54, 236 8,708 24, 875 5,899 452, 349 41, 344 6,656 25, 511 6,252 419, 510 52, 308 +22.7 +143. 6 11, 593 10,634 14, 358 11, 249 13,609 9,792 16, 651 10, 801 10, 010 14, 198 11, 983 .311 .467 .067 .080 143 .301 .460 .068 .080 J43 .306 .464 .069 .081 145 .312 .458 .069 .081 146 .312 .446 .068 .081 146 7,961 39, 771 8,208 48,307 5,437 42,860 7,011 49, 242 52,478 23, 270 52, 627 24, 872 43, 750 22,120 86.4 56.2 89.4 5.34 March April from from 1926 1927 -12.7 +125. 0 +10.4 +61.2 -0.1 +174. 1 27,423 55,006 +100. 6 72,120 48, 889 58,063 -20.7 -8.4 +11.1 -66.9 +9.7 +132. 1 293, 890 287, 928 -2.0 23, 148 61, 511 53, 301 23, 618 63, 335 60,419 -3.2 +5.2 +13.0 +11.0 -33.2 -15.5 86, 565 102, 290 +18.2 32, 268 59, 742 27, 432 29, 346 62, 308 23, 518 +2.2 +37.7 +7.3 -35.0 +2.3 +304.0 127, 159 155, 488 +22.3 March April TEXTILES— Continued Cotton Goods— Continued Cotton textiles— Continued. Wide drills, twills, and broadclothproduction _. thous. of yds.. Stocks, end of month thous. of yds.. Unfilled orders, end mo-thous. of yds_. Print cloths, plain and fancyProduction thous. of yds _ Stocks, end of month thous. of yds . Unfilled orders, end mo.thous. of yds _ Pajama checks and ginghamsProduction thous. of yds.. Stocks, end of month thous. of yds.. Unfilled orders, end mo.thous. of yds.. Denims and chambrays— Production thous. of yds.. Stocks, end of month thous. of yds.. Unfilled orders, end mo.thous. of yds.. Canton flannels (for mitten trade)— Production thous. of yds Stocks, end of month thous. of yds.. Unfilled orders, end mo.thous. of yds.. Osnaburgs— Production thous . of y ds . . Stocks, end of month — thous. of yds.. Unfilled orders, end mo.thous. of yds._ Narrow sheetings— Production thous. of yds_. Stocks, end of month thous. of yds.. Unfilled orders, end mo_thous. of yds_. Wide sheetingsProduction thous. of yds.. Stocks, end of month thous. of yds.. Unfilled orders, end mo.thous. of yds.. Fine cotton goods, production pieces. . Cotton cloth exports thous. of sq. yds.. Fabric consumption by tire manufacturers _ ..thous. of lbs_. Blastic webbing, shipments thous. of yds.. Prices: Cotton yarn— 22/1 cones, Boston.. ..dolls, perlb . 40/ls, New Bedford dolls, per Ib Print cloth, 64 x 60 dolls, per yd._ Sheeting, brown dolls, per yd Cotton goods (Fairchild)... index number. . Silk Imports, raw _ thous. of lbs._ Deliveries (consumption) _ _. bales.. .Stocks, end of month: At warehouses bales.. At manufacturers' plants bales -Silk maehinery activity: Broad looms per cent of normal Narrow looms ..per cent of normal Spinning spindles per cent of normal Price, Japanese, New York dolls, per lb_. Rayou Imports thous oflbs .Stocks in bonded warehouses, end of month __ ..thous. of lbs_. 87.9 53.4 90.4 5.59 1 12,065 +3.6 +4.0 —12.9 -14.9 +6.4 +5.6 -4.1 -10.7 +21.7 +17.4 +3.7 1, 696, 556 172, 288 1, 909, 250 174, 482 +12.5 +1.3 13, 930 9,608 -7.3 +4.2 540,647 43, 358 5 44, 618 41, 852 +9.8 -3.5 .384 .540 .080 .098 170 .374 .528 .077 .098 166 0.0 -2.6 -1.4 0.0 0.0 -16.6 -15.5 -11.7 -17.3 -12.0 6,418 47, 853 5,054 39,400 6,003 37, 276 -8.5 -2.8 +28.4 24, 797 165, 300 27,074 188, 262 +9.2 +13.9 33, 116 21, 193 31, 749 22, 581 35, 948 28,515 30, 122 25, 898 -4.1 +6.5 +5.4 -12.8 86.2 58.1 89.1 5.64 90.1 60.4 81.2 5.39 86.4 62.6 79.7 5.54 92.0 62.5 101.1 6.03 84.0 65.8 82.9 5.49 -4.1 +8.6 -1.8 +2.8 +2.9 -4.9 -3.9 +0.9 1,518 3,218 4,788 +48.8 s 4, 609 s 4, 631 5728 -6.7 -12.4 -0.3 +6.9 27,849 1,023 700 852 1,718 1,257 721 2,016 1,398 1,074 1,052 2,034 1,846 1,298 1,355 237 1,484 1,493 241 1,538 1,527 234 1,587 1,611 253 1,660 1,847 267 i 1,283 i 1, 729 215 197, 674 154, 175 354,078 262, 252 227, 932 346,309 283,471 253, 759 407, 229 330, 218 284, 252 372, 765 285, 821 255, 962 346, 341 272, 273 229,772 358, 142 5766,424 5 687, 352 5875,941 5 765, 943 +14.3 +11.4 3,487 3,560 6,710 3,261 5,100 3,681 3, 175 7,301 3,668 5,513 3,640 3,412 7,567 3,701 5,668 4,096 4,210 7,271 4,203 5,471 3,937 3,920 6,483 4,075 6,457 3,535 3,473 6, 503 3,517 6,384 5 11, 201 s 10, 642 511,417 5 10, 797 +1.9 +1.5 5 11, 096 5 11, 572 +4.3 thous. of dozens 931 thous. of dozens 787 thous. of dozens 1,063 thous. of dozens-918 1,562 thous. of dozens.. 1 Revised. 912 819 1,157 1,357 2,091 959 911 1,213 1,232 2,408 1,198 1,164 1,298 1,282 i 2, 615 1,244 1,207 1,154 1,037 2,740 1,174 971 1,258 774 2,498 4,572 4,316 4,177 3, -907 -8.6 -9.5 4,232 4,820 +13.9 -11.6 +110. 5 Clothing Men's and boys' garments cut: Suits thous. of garments Separate trousers thous. of garments Overcoats . _ thous. of garments Work clothing: Cut dozen garments Net shipments dozen garments Stocks, end of month dozen garments s 4, 941 '• 5 5, 285 5730 Hosiery Production thous. of dozen pairs Net shipments _ thous. of dozen pairs ^Stocks, end of month thous. of dozen pairs New orders. thous. of dozen pairs Unfilled orders, end of mo.thous. of dozen pairs.. Knit Underwear Production Net shipments Stocks, end of month New orders _ Unfilled orders, end of mo 1,108 1,013 1,395 949 2,533 8 -7.5 -13.0 +7.5 -26.0 -3.1 Cumulative through March 31. -5.6 +4.3 +10.9 +22.6 +1.4 26 TREND OF BUSINESS MOVEMENTS—Continued 1926 The cumulative* shown are through April, except where otherwise noted. Earlier data for items shown here may be found on pages 26 to 134 of the February, 1927, "Survey" Decem- January ber February PER CENT INCREASE (+) OR DECREASE (— ) 1926 1927 March April March CUMULATIVE TOTAL FROM JANUARY 1 THROUGH APRIL 30 April Apr., 1927, from Mar., 1927 Apr., 1927, from Apr., 1926 1926 1927 Perct. increase (+) or decrease (-) cumu*lative 1927 from> 1926 TEXTILES— Continued Burlap and Fibers Imports: Burlap thous. of lbs_ . Fibers (unmanufactured) long tons 41,683 34,666 49, 797 29, 892 47, 320 20, 751 39,830 29,096 50, 271 43, 437 63, 653 36, 701 68,815 34, 257 +26.2 +49.3 -26.9 +26.8 244, 210 134,908 187, 218 123, 176 -23.3 -8.7" 3,026 2,337 2,523 3,206 2,168 2,486 3,398 2,431 3,410 4,275 3,426 2,781 3,559 2,752 2,815 2,885 2,313 1,696 2,517 2,127 1,687 -16.7 -19.7 +1.2 +41.4 +29.4 +66.9 10,032 8,338 14, 438 10, 777 +43. 9 +29.3. 776 -20.3 -37.1 1. 129 —21.9 —38.4 54, 625 75,068 +37.4 Pyroxylin Coated Textiles Pyroxylin spread __.thous. of lbs_. Shipments billed thous. of linear yards . Unfilled orders end of mo thous- of linear yards . . Cotton Mill Dividends New Bedford mills (quarterly) : Total. thous. of dollars-Ratio to capitalization. _ per cent per quarter.- 2 2 612 4 3488 3 .891 4 .696 FUR Sales by dealers thous. of dollars. _ 8,943 13, 400 20,239 23,885 17, 544 15, 473 16, 292 -26.5 +7.7 42.6 11, 898 38.4 10, 167 48.3 10,001 49.8 9,928 51.3 9,900 53.3 12, 117 151.9 i 12, 133 +3.0 -0.3 -1.2 -18.4 BUTTONS Fresh-water pearl buttons: Production per ct. of capacity _ Stocks, end of month thous. of gross. . IRON AND STEEL Iron Manganese ore, imports thous. of long tons.. Iron ore: Imports thous. of long tons Shipment from mines.-thous. of long tons.. ReceiptsLake Erie ports and furnaces thous. of long tons Other ports thous. of long tons . Consumption ..thous. oflongtons.. Stocks, end of monthTotal thous. of long tons At furnaces thous of long tons On Lake Erie docks. thous. of long tons.. Pig-iron production: Total, United States.. -thous. of long tons.. Merchant furnaces thous. of long tons.. Canada thous of long tons Furnaces in blast, end of month: Furnaces number Capacity long tons per day Per cent of total per cent Ohio gray-iron foundries: MeltingsActual long tons Normal long tons.. Ratio to normal per cent of normal Stocks end of month per cent of normal Receipts per cent of normal Malleable castings: Production short tons Operating activity per ct of capacity Shipments.. ._ short tons New orders short tons Wholesale prices: Foundry, No. 2, northern dolls per long ton Basic (valley furnace). .dolls, per long ton_. Composite pig iron dolls per long ton 27 16 24 23 30 2? 55 +30.4 -45.5 147 93 -36. 7 205 23 233 193 197 240 1,560 184 195 10 +21.8 +23.1 741 863 +16.5- 88 30 4,562 4,524 4,234 5,031 733 316 5,019 5,160 5,192 -0.2 -3.3 19, 784 18, 808 -4.9- 38, 426 31,286 7,140 33, 971 27, 279 6,692 29,809 23,746 6,063 24, 809 19, 569 5,240 20, 753 16, 050 4,703 22, 610 17, 120 5,491 17, 708 13, 133 4,575 -16.3 -18.0 -10.2 +17.2 +22.2 +2.8 3,091 769 54 3,104 760 52 2,941 684 51 3,483 808 76 3,422 784 77 3,442 781 53 3,450 773 68 -1.8 -3.0 +1.3 -0.8 +1.4 +13.2 13, 131 2,921 228 12, 950 3,036 256 -1. 4 +3.9' +12.3- 203 98,360 54.7 208 100, 635 57.0 217 106, 135 59.5 223 113, 435 61.3 220 112, 955 60.4 236 114, OCO 63.3 237 115, 150 63.5 -1.3 -0.4 -1.5 -7.2 -1.9 -4.9 18, 270 22, 158 82.4 99 72 13, 613 18, 934 71.3 91 62 13, 101 15, 478 84.6 105 74 20, 389 21,087 96.6 96 84 19, 189 21, 159 90.6 99 79 21, 162 23, 424 90.3 111 78 16, 908 19, 660 86.0 100 72 -5.9 +0.3 -6.2 +3.1 -6.0 +13.5 +7.6 +5.3 -1.0 +9.7 70, 990 86,972 66, 292 76, 658 -6.6^ -11.9- 46, 977 48.2 41, 545 37, 737 47, 454 47.7 44, 717 46, 872 58, 882 60.3 50, 264 54,237 61, 945 61.5 60,363 50, 056 55,318 55.3 56, 595 53,002 70, 474 67.6 65, 989 55, 027 62, 812 60.3 62, 333 49, 599 -10.7 -10.1 -6.2 +5.9 -11.9 -8.3 -9.2 +6.9 268, 277 223, 599 -16. 7 240, 454 219, 864 211, 939 204, 167 -11.9' -7.1 20.51 18.50 20.77 20.26 18.00 20.16 20.26 18.00 19.73 20.26 18.40 19.79 20.26 19.00 20.04 22.26 20.00 22.27 20.76 18.63 21.53 0.0 +3.3 +1.3 -2.4 +2.0 -6.9 17, 164 12, 692 10,664 82, 765 20, 202 16, 130 15, 276 89,880 27,669 15, 864 19, 404 101, 393 23, 549 14,288 19, 987 94, 657 24,380 17, 340 19, 974 | 102, 248 5 63, 876 5 40, 303 s 47, 415 6 65, 035 5 44, 686 « 45, 284 +1. 8. +10.9 -4,5 H 20,658 13, 105 10, 896 81, 849 21, 331 13, 527 12, 473 89, 855 25, 437 13, 132 16,085 101,042 20, 274 12,266 18, 033 102, 007 22,012 15, 012 18, 022 108, 944 5 60, 547 s 38, 848 5 56, 991 5 5 5 67, 426 39, 764 39, 454 +11. 4 +2.3 -16.0* 14, 226 9,534 9,240 14, 842 9,770 7,393 17,261 8,965 11, 588 15, 740 8,810 17, 778 16,366 10, 592 14, 210 s 46, 442 s 28, 584 5 40, 556 5 5 46, 329 28, 269 5 28, 221 -0.2-1.1 -30.4, 34. 464 40. 452 48. 714 45. 059 50. 897 Cast-Iron Boilers and Radiators Round boilers: Production ...thous. of lbs_. 12, 245 Shipments thous oflbs 18,177 New orders thous oflbs 12, 768 74, 967 Stocks, end of month thous oflbs Square boilers: Production. _ thous oflbs 15, 543 Shipments thous. oflbs 19, 932 New orders thous of Ibs 14, 156 Stocks, end of month thous of Ibs 72, 951 Radiators: Production- thous. sq. ft. heating surface 11, 829 Shipments thous sq ft heating surface 14, 435 New orders thous sq. ft heating surface 12, 316 Stocks, end of month thous. so. ft. heating surf ace _. 29. 915 3 Revised. 2 Quarter ending Dec. 31, 1926. s4 Quarter ending Mar 31, 1927. Quarter ending Mar. 31, 1926. * Cumulative through Mar. 31. 27 TREND OF BUSINESS MOVEMENTS—Continued 1926 The cumulative* shown are through April, except where otherwise notedEarlier data for items shown here may be found on pages 26 to 134 of the February, 1927, "Survey" Decem- January ber February PER CENT INCREASE (+) OR DECREASE (— ) 1926 1927 March April March April Apr., 1927, from Mar., 1927 Apr., 1927, from Apr., 1926 -8.9 -6.4 +1.9 +0.6 0.0 +36.3 -2.7 -10.7 -6.9 -6.8 -5.4 -8.0 CUMULATIVE TOTAL PROM JANUARY 1 THROUGH APRIL 30 Per ct, increase (+) or decrease (-) cumulative 1927 from 1926 1926 1927 16, 492 16, 262 -1.4 261 331 +26.8- « 45, 061 5 45, 585 +1.2 -16.4 -17.1 -12.6 -18.8 405, 276 357, 753 -11.7 168, 094 237, 182 141, 709 216, 044 -15.7 -8. 9 -5.1 4 8 -1.2 -7.5 -12.0 -11.9 +16.1 -24.1 401, 693 354, 185 -11. 8 166, 760 234, 933 150, 893 203, 292 -9.5 -13.5 -12.0 -5.2 +7.2 +13.3 1, 242, 139 1, 214, 467 -2.2 +6.0 +0.2 -11.1 15 3 -3.8 -7.8 -25.1 +4.2 +17.2 +4.0 1, 232, 893 1, 139, 725 988, 523 1, 142, 173 -7.6 +15.5- +4.2 +4.1 +7.1 -15.7 -11.7 -0.4 +0.7 +0.2 +12.7 +6.8 -2.2 -0.2 0.0 0.0 -5.0 4 8 -3.4 -2.6 +16.9 +16.9 +4.8 +4.8 IRON AND STEEL— Continued Crude Steel Steel ingots, production: 1 United States, total thous. of long tons._ i 3, 467 i 4, 106 3, 786 i 4, 535 * 4, 469 i 3, 811 4,130 174 181 94 88 Ratio to capacity per cent 88 188 192 58 Canada _ thous of long tons 59 107 109 59 56 80 U. S. Steel Corporation: Unfilled orders, end of month thous of long tons 3,553 3,868 3,961 3,597 3,456 3,800 4,380 Earnings thous of dolls 16,866 16, 365 13, 513 17, 129 15, 705 14, 943 Steel castings: * Production — 82,034 84, 616 Total -._ - short tons 97, 256 90, 498 85, 383 111,150 108, 203 64 Ratio to capacity per cent 73 84 68 64 62 82 38, 784 47,604 32, 982 Railroad specialties . short tons 41, 961 28, 699 36, 693 33, 250 51, 634 Miscellaneous short tons _ 53,335 58, 472 63, 546 66, 242 53, 805 52, 133 New ordersTotal short tons 108, 626 86, 006 82, 488 78, 282 88, 990 101, 708 91, 707 Ratio to capacity per cent 67 62 59 82 65 76 69 38,111 Railroad specialties _ .short tons 46,655 31, 004 26, 715 48,717 39, 792 31, 380 Miscellaneous short tons _ _ 47, 895 47, 278 61, 971 52, 991 51, 108 62, 275 51, 915 Sheets, blue, black, galvanized, and full finished: Production— Total short tons 238, 345 319, 132 294, 811 256, 856 282, 171 359, 340 316, 100 Ratio to capacity per cent 108.8 72.3 97.4 103.1 94.2 83.5 91.0 Stocks, end of month— 173,381 184,289 Total short tons 161, 661 157, 614 160, 357 169, 977 160, 193 62,604 Unsold short tons 61, 433 49, 182 44, 974 47,168 46, 827 46, 901 Shipments short tons 219, 498 239, 019 261,412 338, 436 300, 858 320, 623 288, 759 New orders short tons 304, 233 249, 866 261, 357 240, 862 241, 951 345, 900 292, 965 Unfilled orders, end of month. .short tons.. 529, 940 526, 550 513, 002 510, 924 491, 290 534, 641 472, 448 Steel barrels: Production barrels 539, 805 622, 949 602, 058 529, 137 504, 134 575, 850 599, 771 Ratio to capacity per cent 55.0 53.4 50.0 48.1 51.7 53.8 46.2 Shipments barrels 622, 312 608, 056 546, 392 525, 518 503, 183 568, 821 609, 090 Stocks, end of month __ .barrels 44, 411 47, 790 50, 409 51, 409 59, 389 50, 070 52, 360 Unfilled orders, end of month barrels 1, 845, 987 1, 788, 194 1, 663, 772 1, 545, 980 1, 365, 555 1, 645, 066 1, 279, 159 Track work, production _. . .short tons 19, 756 16, 660 13, 010 11,626 11, 724 16, 778 Wholesale prices: Steel billets, Bessemer .dolls, per long ton.. 35.00 35.00 35.00 35.00 34.00 33.25 33.00 Iron and steel dolls per long ton 38.90 38.60 38.26 36.76 37.76 37.01 36.82 Composite steel dolls, per 100 Ibs 2.64 2.65 2.63 2.55 2.55 2.62 2.56 Structural steel beams dolls per 100 Ibs 1.95 1.95 2.00 1.90 2.00 1.95 1.90 Steel sheets, Youngstown district dolls, per 100 Ibs _ 3.25 3.25 3 10 Steel Products Structural steel, fabricated: New orders (prorated) short tons 225, 780 Ratio to capacity. _ percent 71 Shipments (prorated) short tons.. 213,060 Ratio to capacity per cent 67 Steel plate, fabricated, new orders: Total _ short tons . 27, 244 Ratio to capacity _ per cent 34 Oil-storage tanks, __ short tons _ 9,476 Iron and steel: Exports long tons 198, 189 Imports long tons 51, 964 Steel furniture: Business groupShipments ... thous. of dolls 2,934 New orders- _ thous. of dolls 2,802 Unfilled orders, end mo -thous. of dolls. _ 1,556 ShelvingShipments _. thous. of dolls 622 New orders thous. of dolls.. 562 Unfilled orders, end mo.thous. of dolls.. 608 Steel boilers, shipments: * StationaryTotal number Area thous of sq ft MarineTotal. _ ._ number Area .thous. of sq. ft.. 2, 216, 215 2, 208, 892 -0.3 2, 217, 904 2, 206, 612 -0.5 « 51, 161 « 40, 128 -21. 6 +8.6 +8.6 -14.3 -14.3 801, 360 839, 520 +4.8 887, 220 766, 380 -13.6 -15.6 +23.4 -15.5 +25.0 -25.3 +182. 0 140, 922 188, 528 +33.8 171, 720 54 174, 900 55 219, 420 69 181, 260 57 206, 700 65 200, 340 63 241, 680 76 209, 880 66 209, 880 66 244, 860 77 222, 600 70 244, 860 77 34,068 46 14, 336 57, 060 76 32, 983 52, 819 71 24, 127 44, 581 60 18,019 39, 764 52 12, 693 36, 133 48 6,390 215, 235 42, 219 166, 128 31,908 171, 094 47, 312 192,339 42, 550 169, 438 83,808 194, 449 98, 442 +12.4 -10.1 -1.1 -56.8 695, 659 346, 769 744, 796 163, 989 +7.1 -52.7 2,731 2,887 1,728 2,686 2,771 1,804 3,081 3,022 1,744 2,850 2,751 1,646 2,844 2,687 1,804 2,782 2,937 1,784 -7.5 -9.0 -5.6 +2.4 -6.3 -7.7 11,084 11,350 11,348 11,431 +2.4 +0.7 556 576 623 608 658 675 691 1690 679 678 622 627 726 1583 605 699 699 571 -1.9 -9.9 -7.7 -3.0 -11.0 +9.8 2,607 2,518 2,533 2,546 -2.8. +1.1 1,003 1, 159 1,079 11,363 i 1, 384 i 1, 459 1,531 1,481 +10.6 +1 5 17 19 14 27 13 23 13 17 0.0 —26.1 508, 531 603, 735 995, 075 478, 273 601, 808 838,752 i 527, 385 i 437, 241 i 550, 202 i 422, 853 i 505, 660 i 519, 571 -6.0 -0.3 -15.7 +9.4 +42.3 +61.4 1, 903, 100 2, 331, 057 1, 875, 274 2, 063, 471 +22.5 +10.0 115 49, 694 77 26, 249 132 fc 145 52, 312 70, 055 -33.0 -47.2 -46.9 -62.5 152 158 226 126 138 216 -17.1 -12.7 -4.4 6 0 -14.8 -12.6 -14.4 +6.1 1 1 37,583 89, 465 +138. 0 Machinery Foundry equipment: New orders .dollars.. 652, 334 659, 417 684, 836 Shipments ._ _. ..dollars 542, 640 373,229 484, 699 Unfilled orders, end of month dollars.. 682, 896 945, 505 1, 086, 310 Stokers, mechanical: Shipments number 72 69 105 Shipments . horsepower 34, 974 41, 400 40, 467 Machine tools: New orders index number 134 143 123 Shipments index number 193 155 138 Unfilled orders, end of mo. .index number.. 278 234 248 Vacuum cleaners, shipments (quarterly) number 320, 110 Washing machines, shipments: Total _ number 67, 214 82, 263 74,563 62. 510 55. 319 Electric number.. 70. 340 *See table on p. 23 of the March, 1927, issue for earlier data. 134 162 247 258, 238 274, 089 81, 522 64. 961 183 195 282 92,832 74. 859 i Revised. 94, 725 78. 993 92, 582 74. 522 366 157, 810 -15. 3 -18. 0 331, 331 318, 024 265. 447 261. 783 Cumulative through Mar. 31. -4.0 -1.4 +16.2 -21.6 5 +2.3 +6.0 432 192, 421 28 TREND OF BUSINESS MOVEMENTS—Continued Perct. 1936 The cumulatives shown are through April, except where otherwise noted. Earlier data for items shown here may be found on pages 26 to 134 of the February, 1927, "Survey" December 1937 January February PER CENT INCREASE (+) OR DECREASE (-) 1936 March April March April Apr., 1927, from Mar., 1927 CUMULATIVE TOTAL FROM JANUARY 1 THROUGH APRIL 30 Apr., 1927, from Apr., 1926 1936 1937 in- crease ( } or tdecrease (-) cumulative 1927 from 1926 IRON AND STEEL— Continued Machinery— C ontinued Water softeners: New orders units. 506 Shipments units500 Stocks, end of month units.. 620 Water systems, shipments units. . 4,848 Pumps, pitcher, hand, etc., shipments, .units .. 39, 409 Steam, power, and centrifugal pumps: New orders thous. of dolls. . 1,533 Shipments . ..thous. of dolls. . 1,541 Unfilled orders, end mo thous. of dolls. . 2,992 Agricultural machinery and equimpment:* ShipmentsTotal index number.. 82.8 Domestic index number.. 80.4 Foreign index number.. 95.8 Production index number. . 124.8 Electric industrial trucks and tractors: Shipments, domesticTractors number of vehicles. _ 18 All other types number of vehicles. . 95 Exports number of vehicles.. 5 Fire-extinguishing equipment, shipments: Motor vehicles . . number. . 131 Hand types . .. number.. 40, 687 602 581 572 14,903 45,283 1,634 1,112 704 581 637 4,975 46, 941 963 790 757 5,731 42, 532 812 838 662 941 911 733 5,856 716 715 915 5,915 6,359 47,430 51, 118 42,984 -15.7 +13.4 +6.1 +17.2 -12.5 -27.7 +7.5 +11.0 +11.5 +10.3 3,053 2,986 3,081 2,790 +0.9 -6.6 21,951 21,908 200,626 182, 186 +0.2 -9.2 5,936 5,336 6,229 5,645 +4.9 +5.8 3,499 3,384 3,686 3,525 1,405 1,565 1,656 1,408 3,121 3,385 1,669 1,460 -21.9 +5.6 -4.4 -15.8 +7.2 +4.1 103.7 105.6 93.5 136.9 140.4 133.5 176.2 138.6 187.4 185.1 199.8 136.0 151.2 153.9 137.3 144.6 176.4 176.7 175.0 141.4 146.3 147.5 140.3 146.4 -19.3 -16.9 -31.3 +6.3 +3.3 +4.3 -2.1 -1.2 6 67 17 11 120 7 10 96 10 12 89 4 11 128 8 17 90 4 +20.0 -7.3 -60.0 -29.4 -1.1 0.0 64 400 21 39 372 38 -39.1 -7.0 +81.0 88 46, 279 87 46, 539 148,955 46,956 114 110 59, 245 121 52, 874 -7.3 -4.1 -5.8 -11.2 399 207, 256 412 188, 729 +3.3 -8.9 3,029 3,148 48 55 4,067 3,554 53 79 50 124 3,506 4,639 46 55 -23.4 -12.6 -5.7 +8.7 +57.0 +125. 5 14,847 72 69 236 212 13, 798 193 322 -7.1 -18.2 +51.9 399, 105 381, 116 17, 989 401, 836 383,907 17,929 +3.7 +3.3 +9.4 -6.9 -8.0 +16.5 1, 357, 708 62, 460 1,420,168 1,218,923 1,152,373 -14.2 -15.1 +6.5 48, 216 44, 495 3,721 45, 997 50, 189 46, 616 -1.0 -1.5 +5.3 -3.9 -4.5 +4.1 166, 319 150, 586 179,736 165, 021 14,715 +8.1 +9.6 -6.5 46, 703 34, 840 11, 863 27, 952 22, 278 31, 189 23, 152 +18.2 +16.2 +24.3 +49.7 +50.5 +47.6 113, 685 88, 956 147, 589 108, 302 39, 287 +29.8 +21.7 +58.9 4,075 2,930 10, 888 8,033 2,855 -55.1 -55.0 -55.3 -0.6 +10.1 -20.5 28, 556 20, 287 4,101 2,661 1,440 19, 777 8,166 55, 068 25, 921 18, 335 7, 586 46, 372 -9.2 -10.1 -7.1 -15.8 336, 497 322, 051 180, 106 113,341 122,742 106, 051 136, 643 +4.4 +23.1 +37.7 +31.8 185 117 156 223 11, 176 182 146 167 205 10, 617 2,471 160 141 176 208 1,390 1,486 1,800 1,482 123 PATENTS ISSUED Total all classes Agricultural implements Inter nal -combustion engines . . number .. number number _ _ 3,512 51 63 42 64 AUTOMOBILES Production: Passenger carsTotal number of cars.. 143, 413 i 208, 731 i 275, 467 i 360, 764 United States - number of cars.. 137, 361 i 196, 986 i 260, 641 1 341, 675 Canada .number of cars.. 11, 745 14, 826 6,052 10, 089 TrucksTotal . number of cars. _ 41, 947 148,700 27,768 i 40, 873 United States number of cars. 38, 118 i 45, 166 26,068 i 37, 242 Canada number of cars. _ 3,631 3,829 1,700 3,534 Exports: Assembled— Total number of cars 29,835 31,524 25, 663 39, 527 Passenger cars number of cars _ _ 21,805 22, 122 21, 355 29, 985 Trucks number of cars 7,713 10, 169 3,858 9,542 From CanadaTotal * number of cars. . 7,466 5,308 5,620 9,072 Passenger cars number of cars 5,296 3,597 4,836 6,512 Trucks - number of cars.. 2,170 784 1,711 2,560 Foreign assemblies. . number of cars_. 14, 110 13,392 13, 348 18, 870 Sales, passenger cars and motor cycles. thous. of dolls_. 88, 729 85, 667 149, 437 214, 678 Shipments (General Motors Co.) : To dealers . number of cars. _ 99, 367 124, 426 44, 130 161, 910 To users number of cars.. 52,729 81, 010 102, 025 146, 275 Accessories and parts: Shipments— Original equipment index nos._ 132 95 195 158 Replacement parts index nos.. 107 109 100 120 Accessories index nos.. 79 64 93 135 Servioe parts _ index nos_. 140 112 155 210 Exports thous. of dolls. _ 5,134 6,038 8,611 10, 957 Rim production _ .thous. of rimst-1,498 1,753 1,096 2,072 New passenger-car registrations: 174, 638 Total . number of cars. . 130, 336 179,920 259,499 6,291 Highest price group number of cars.. 5,277 6,524 12,086 Second highest group number of cars_. 25,810 33,509 33, 507 56, 383 Third highest group number of cars.. 27,423 34, 249 37, 294 56, 599 Lowest price group. number of cars.. 71,032 99, 662 101, 957 133, 694 Miscellaneous... ..number of cars. _ 927 794 638 737 373, 961 353,071 20,890 1,145 169,061 2,060 41,612 4,385 3,573 8,037 5,674 273, 260 10,426 53, 026 57, 774 150, 921 1,113 9,608 2,286 15,733 24,729 20,390 6 -5.1 +15.6 -2.5 -17.0 +15.6 -11.4 +6.2 +7.2 +2.0 +16.3 -0.6 -9.9 388,024 15,684 78,488 86,021 206,045 682, 137 5 449, 782 -34.1 403, 728 361,363 554, 764 509, 416 +37.4 +41.0 35, 766 35, 878 +0.3 -17.1 614, 057 5 24, 901 8 121763 5361,420 83,416 8123,399 «5 128, 142 335, 313 « 2, 302 -2.3 +12.9 +3.2 +5.2 -7.2 32 6 288,339 285, 266 329, 799 -1.1 +2.8 507, 023 548, 479 +9.6 +3.9 -1.6 +16.8 8,905 5 628, 229 8 22, 058 5 119, 572 1,786 66, 550 7,383 5 NONFEBBOUS METALS Copper Production: Mines short tons 72, 396 76, 198 69,202 i 69, 314 Smelter short tons.. 86, 907 89, 719 79, 684 80, 321 Refined (North and South America) short tons 133, 110 122, 292 126, 424 126, 331 World production, blister short tons. _ 142, 300 143, 337 132, 814 i 137, 427 Domestic shipments, refined short tons 61, 942 , 76, 409 67, 564 i 78, 947 Exports . -. . short tons 37, 184 46, 932 43, 879 45, 306 •Stocks (North and South America) : 93, 982 Refined short tons.. 85, 501 105, 020 102, 637 Blister short tons.. 278, 135 275, 869 272, 219 i 263, 368 Wholesale price, electrolytic dolls, perlb.. .1299 .1268 .1330 .1308 * See table on p. 23, of the April, 1927, issue for earlier data, t See table on p. 24, of the March, 1927, issue for earlier data. 25,728 73, 454 85, 951 +1.8 -0.3 -4.0 -6.8 320, 876 121, 798 134, 727 88, 573 39, 244 116,302 136, 938 75, 030 44, 926 -0.8 -1.8 -6.3 +3.5 +7.7 -1.5 -1.4 +4.4 462, 612 527, 638 301, 838 148, 324 75,206 72, 644 264, 721 .1371 -4.1 -3.8 -2.1 +35.5 -4.3 -6.6 70, 552 80, 075 80, 719 125, 290 134, 901 73, 992 46, 908 98, 415 253, 347 .1281 261, 916 .1386 i Revised. Cumulative through Mar. 31. 4 297,002 173, 277 29 TREND OF BUSINESS MOVEMENTS—Continued The cumulative* shown are through April, except where otherwise noted. Earlier data for items shown here may be found on pages 26 to 134 of the February, 1927, "Survey'* PER CENT INCREASE (+) OR DECREASE (— ) 1926 1927. 1936 December January February March April March April Apr., 1927, from Mar., 1927 Apr., 1927, from Apr., 1926 number.. dollars . dollars 152, 616 161, 629 105.74 371, 125 248, 094 105. 91 232, 435 208, 569 105. 16 239, 248 210, 702 105. 17 184, 377 197, 545 105. 29 230, 262 217, 435 109. 87 192, 666 187, 261 109. 19 -22.9 -6.2 +0.1 of pieces of pieces 137, 634 142, 661 390, 798 399, 338 287, 356 280, 153 257, 336 298, 742 257, 082 302, 841 long tons 6,505 6,295 5,965 6,545 6,720 6,835 7,105 +2.7 13, 849 1,704 6,228 .6607 14, 280 2,494 6,699 .6347 15, 516 1,354 5,912 .6196 -10.3 -10.7 -0.3 +25.8 +4.7 +5.3 -2.6 +6.6 81,096 51, 626 41, 208 89, 497 54, 411 20, 561 89, 333 53, 334 25, 990 -2.5 -9.2 -8.7 -3.2 +13.6 +58.6 CUMULATIVE TOTAL FROM JANUARY 1 THROUGH APRIL 30 Per ct. increase (+) or decrease (-) cumulative 1927 from 1926 1926 1937 -4.3 +5.5 -3.6 1, 039, 310 948, 980 1, 027, 185 864, 910 -1.2 -8.9 -5.4 27, 530 25, 525 -7.3 26, 143 24, 844 -5.0 217, 371 216, 411 04 225, 473 s 185, 581 -17.7 NONFERROUS METALS-Continued Copper Products Plumbing fixtures: New orders, tubularQuantity Value _. . Wholesale price, 6 pieces Brass faucets: New orders number Shipments number Tin Deliveries (consumption) Stocks, end of month: World visible supply United States. ._ Imports Wholesale price pig tin _ long tons_. long tons long tons dolls . per Ib . . 16, 326 1,909 6,384 .6664 15, 342 3,304 7,966 .6479 14,221 2,484 4,704 .6653 15,441 1,709 5,946 .6783 88, 668 56, 884 21, 887 88, 908 56, 898 29, 912 85, 836 51, 341 32, 938 83, 208 56, 546 36, 279 Zinc Retorts in operation, end of month number.. Production short tons Stocks, end of month __ short tons.. Ore, Joplin district: Shipments short tons Stocks, mines end of month. _ .short tons.. Price, slab, prime western dolls, per Ib.. 69, 699 19, 158 .0702 Lead 63, 829 Production short tons Ore shipments: 10, 997 Joplin district . short tons 70, 989 Utah _ _ short tons i 58, 117 Receipts of lead in U S ore short tons Stocks, U. S. and Mexico, end mo.-short tons.. 127, 035 Price, pig, desilverized (New York). dolls.per Ib.. .0786 5 69, 853 25, 515 .0666 46, 603 29, 202 .0667 69, 125 18, 538 .0669 .0634 71, 811 24, 107 .0733 64, 722 22, 995 .0700 -5.2 -9.4 59, 383 54, 151 i 61, 128 61, 237 61, 997 i 55, 347 +0.2 +10.6 233, 919 235, 899 +0.8 10, 812 64, 768 i 56, 345 134, 682 .0758 7,448 61, 305 i 51, 722 139, 824 .0742 10, 164 66, 358 58, 364 145, 766 .0758 8,435 75, 563 l 56, 701 117, 563 .0797 +15.2 +1.2 « 34, 494 263, 061 8 170, 844 « 28, 424 268, 888 5 166, 431 -17.6 +2.2 -2.6 .0713 10, 212 56, 902 i 58, 575 112, 637 .0839 -5.9 -10.5 4,169 950 3,219 5,861 1,008 4,853 5,229 1,412 3,817 -19.2 -21.4 -18.5 -20.3 -32.7 -15.7 21, 383 5,136 16, 246 18, 878 4,444 14, 434 -11.7 -13.5 -11.2 76, 457 Babbitt Metal Consumption: Total apparent.Direct by producers Sale to consumers Arsenic Crude: Production Stocks, end of month Refined: Production Stocks, end of month thous. of lbs__ thous. of lbs_. thous. of lbs_. 4,013 1,096 2,917 4,976 1,220 3,756 4,575 1,066 3,509 5,158 1,208 3,950 short tons short tons.. 537 2,621 1,414 2,725 1,147 2,387 1,380 2,378 539 3,534 418 3, 718 « 1, 282 « 3, 941 +207.4 short tons. . short tons 866 1,798 913 1,983 810 2,251 1,030 2,230 746 5,976 377 5,462 « 1, 540 « 2, 753 +78.8 dozens.. dozens 118, 525 101, 356 131, 006 141, 817 138, 788 165, 707 202,393 182, 692 120, 396 116,036 91, 407 109,228 « 407, 092 5 301, 421 « 472, 187 s 490, 216 +16.0 +25.2 dozens.. dozens 31, 393 22, 025 31, 019 32, 082 39, 018 36, 123 32, 942 30, 980 60, 177 56, 119 44, 434 48, 182 5 150, 361 5 148, 180 5 102, 979 s 99, 185 -31.5 -33.0 Galvanized Sheet Metal Ware Pails and tubs: Production Shipments Other: Production Shipments _ _ Enameled Ware Baths: 83, 117 82, 810 Shipments number.. 68, 133 182, 363 189, 108 177, 331 Stocks, end of month. _ _. number 86, 802 79, 810 80, 023 New orders . _ number Lavatories: • Shipments. number.. 74, 005 i 102, 986 i 88, 832 Stocks, end of month number., 265, 400 i 256, 114 i 267, 550 New orders _ number-- 92, 759 i 106, 720 i 85, 880 Sinks: Shipments number-- 78, 524 i 99, 178 i 99, 613 Stocks, end of month .number.. 306, 431 i 296, 158 i 311, 786 New orders number.. 97, 081 i 104, 926 i 94, 215 Miscellaneous sanitary ware: 35, 659 i 40, 465 i 45, 630 Shipments > number Stocks, end of month number.. 144, 564 i 130, 881 i 139, 952 44, 914 i 44, 262 i 43, 349 New orders number Unfilled orders, end of month: Baths... number 47,343 49, 804 43, 104 Small ware _ -number-- 127, 104 i 117, 617 i 118, 617 Household ware: Furnaces operating. per cent of total _ 85 79 Porcelain flat ware*: New orders6,759 Total thous. of sq. ft._ 6,051 6,175 47.6 53.1 Ratio to capacity per cent.. 48.5 Shipments — Total.. --. thous. of sq. ft_. 6, 436 5,942 5,993 Ratio to capacity... .per cent.. 50.6 46.7 47.1 * See table on p. 24 of the March, 1927, issue for earlier data. 98, 799 186, 642 104, 993 99, 370 175, 681 98, 125 102, 284 166, 756 118, 076 103, 624 177, 778 110, 476 +0.6 -5.9 -6.5 -4.1 -1.2 -11.2 114, 342 256, 952 118, 798 110, 959 255,471 106, 626 121, 801 245, 384 128, 349 116, 205 250, 143 120, 139 -3.0 -0.6 -10.2 -4.5 +2.1 -11.2 118, 045 326, 391 123, 571 114, 291 319, 574 114, 784 121,883 301, 070 130, 496 117, 212 321, 073 119, 236 -3.2 -2.1 -7.1 -2.5 -0.5 -3. 7 49, 588 139, 551 51, 902 46, 813 140, 506 43, 732 55, 607 168, 298 60, 226 52, 076 158, 229 51, 180 -5.6 +0.7 -15.7 -10.1 -11.2 -14.6 46, 109 116, 454 44, 391 103, 185 94, 167 205, 003 96, 048 198, 203 -3.7 -11.4 -53.8 -47.9 85 86 5,359 43.7 5,591 45.6 7,366 60.1 6,292 51.3 1 Revised. 8 379, 320 364,096 -4.0 419, 054 369, 730 -11.8 457, 186 417, 119 476, 566 418, 024 -12.3 -4.6 -8.8 451, 909 431, 127 470, 496 437, 496 -7.0 205, 815 182, 496 -11.3 217, 282 183, 245 Commulative through Mar. 31. 15 7 30 TREND OF BUSINESS MOVEMENTS—Continued 1926 The cumulative* shown are through April, except where otherwise noted. Earlier data for items shown here may be found on pages 26 to 134 of the February, 1927 , "Survey" 1927 PER CENT INCREASE (+) OR DECREASE (— ) 1926 December January February March . dollars . 740, 786 dollars.. 223, 926 dollars 489, 356 dollars.. 27,504 407, 776 143, 893 240, 763 23, 120 474, 302 160, 558 289, 347 24, 397 559, 663 193, 961 337, 206 28, 496 April March April 622, 248 214, 590 385, 119 22, 539 533, 732 198, 628 312, 130 22, 974 Apr., 1927, from Mar., 1927 Apr., 1927, from Apr., 1926 CUMULATIVE TOTAL i PROM JANUARY 1 THROUGH APRIL 30 1926 1927 Perct. increase ( -y or decrease (-) cumulative 1927 from 1926 NONFEREOUS METALS— Continued Band Instruments .Shipments: Total Cup mouthpieces Saxophones . Woodwind M,614,891 5 1,441, 741 5 553, 870 5 498, 412 5 1,000, 556 5 867, 316 5 60, 465 ' 576,013 -10.7 -10.0 -13.3 +25.7 Electrical Equipment Electrical mfrs., bookings* _ thous. of dolls 2 260, 078 3 251, 756 ^Electrical porcelain, shipments: Total . dollars. 243, 839 250, 859 237, 854 319, 227 Standard dollars.. 71,715 93, 176 87, 083 108, 688 Special _ _ dollars 141, 789 122, 681 115, 043 168, 148 High tension __dollars_. 30, 335 35,002 35, 728 42, 391 Laminated phenolic products, shipments. dollars.- 576, 794 494, 566 439, 334 505, 213 Motors: New orders ..dollars.. 744, 424 692, 583 731,426 1, 078, 639 Billings (shipments) dollars. . 907, 971 766,011 671, 208 802, 572 Power switching equipment (quarterly) : New ordersIndoor .. single pole units 215,486 3 15, 208 Outdoor. single pole units ... 2 14, 725 3 17, 500 Electric hoists: New OrdersQuantity number 262 312 269 291 Value . . dollars _. 157, 329 134, 006 148, 381 144, 305 Shipments dollars 139, 522 174, 220 127, 459 139, 528 Electric overhead cranes:* 704 934 Shipments _. thous. of dolls.. 1,008 1,065 694 New orders thous of dolls 888 785 750 3,352 3,042 Unfilled orders, end mo thous. of dolls.. 3,738 3,971 Outlet boxes and covers, shipments pieces 1, 576, 433 2, 258, 668 2, 055, 172 2, 093, 021 Vulcanized fiber: ShipmentsTotal thous. of dolls 795 732 731 919 Hollowware thous. of dolls __ 48 51 57 50 Consumption thous. of Ibs 2,939 2,908 2,371 3,002 -Industrial reflectors, sales . units. . 137, 486 146, 152 122, 359 135, 084 4 262 678 322, 589 98, 818 172, 506 51, 265 —3 2 —4 2 301, 099 95, 259 169, 213 36, 627 5 876, 289 5 286, 169 5 451, 263 5 138, 857 5 807, 940 5 288, 947 5 405, 872 5 113, 121 -7.8 +1.0 -10.1 603, 372 540, 814 1, 661, 004 1, 439, 113 -13.4 1, 167, 749 1, 027, 319 866, 869 821, 947 2, 861, 754 2, 768, 724 2, 502, 648 2, 239, 791 -12.5 -19.1 4 +41.1 -1.8 +18.8 +121.4 10 776 * 7, 905 284 138, 829 138, 510 385 234, 032 191, 188 282 134, 109 128, 140 -2.4 -3.8 -0.7 +0.7 +3.5 +8.1 1,293 687, 322 699, 025 1,106 565, 521 545, 019 -14.5 -17.7 22 0 909 660 2,772 814 1,114 1, 180 901 -14.6 12 0 -8.9 -23.0 -26.7 3,901 3,899 3,612 2,992 -7.4 -23.3 1,052 65 3,266 460 599 964 61 3,182 2,975 141 8,718 2,446 156 8,312 -17.8 +10.6 -4.7 46, 137 1, 071 1,143 40, 079 996 1,094 -42.4 -13.5 186, 455 204, 604 +9.7 -8.6 +15.0 4,243 5,706 +34.5 +7.1 -14.0 FUELS Coal and Coke Bituminous: Production— United States thous. of short tons.. Canada thous. of short tons_. Exports thous. of long tons.. C onsumption— By vessels thous. of long tons.. By electric power plants thous. of short tons.. By railroads thous. of short tons By coke plants— United States -thous. of short tons.. Canada thous. of short tons.. Prices— Mine average (spot) dolls . per short ton Wholesale, Kanawha, f. o. b. Cincinnati dolls, per short ton Retail, Chicago dolls, per short ton Anthracite: Production thous. of short tons. . Exports thous. of long tons.. PricesWholesale, chestnut, New York dolls, per long ton_. Retail, chestnut, New York. dolls, per short ton €oke: Production, U. S.— Beehive thous. of short tons.. By-product thous. of short tons Production, Canada. -thous. of short tons.. Exports thous of long tons Price, furnace, Connellsville dolls per short ton 57, 671 1,923 4,299 56, 882 1,569 1, 720 52,904 1,376 1,352 60, 147 34, 671 1,376 1,258 345 718 376 312 322 3,849 9,424 3,814 9,186 3,336 8,074 3,483 8,647 6,555 237 6, 557 251 6,124 226 6,977 256 6,557 253 423 401 3,490 1 9, 021 3,125 8,063 7,252 238 6,723 232 -6.0 -1.2 -2.5 +9.1 2.54 2.30 2.11 2.06 2.12 2.02 1.92 +2.9 +10.4 4.39 10.34 3.89 9.85 3.64 9.64 3.64 9.31 3.64 8.89 3.39 8.99 3.39 8.39 0.0 -4.5 +7.4 +6.0 7,528 294 6,561 220 5,852 185 6,098 156 7,131 201 8,790 297 8,217 295 +16.9 +28.8 -13.2 -31.9 11.48 11.49 11.48 10.61 10.58 11.48 11.48 -0.3 --7.8 14.50 14.50 14.50 14.29 13.50 15.29 14.54 -5.5 -7.2 780 3,706 157 61 787 3,700 176 59 754 3,435 158 59 890 3,879 172 46 780 3,707 170 50 1,158 3,777 152 87 981 3,602 149 55 -12.4 -4.4 -1.2 +8.7 -20.5 +2.9 +14.1 -9.1 3.91 3.88 3.70 3.65 3.49 3.28 3.13 -4.4 +11.5 1,459 1,355 • 10, 499 s 26, 514 5 10, 623 5 25, 907 +1.2 -2.3 28, 860 962 26, 215 986 +2! 5 19, 263 635 25, 642 762 +33.1 +20.0 4,922 14,683 623 292 3,211 14, 721 676 214 -34.8 +0.3 +8.5 -26.7 234, 901 286, 825 +22.1 21, 553 242, 713 5,015 17, 192 269, 345 5,762 -20.2 +11.0 +13.1 -7.1 Q O Petroleum •Crude petroleum: Production thous. of bbls.. 72,061 67, 874 71, 475 Stocks, end of month— Total (comparable) thous. of bbls.. 278, 077 278, 972 285, 458 Tank farms and pipe 242, 602 243, 428 lines thous of bbls 247, 749 Refineries thous. of bbls__ 35, 475 35, 544 37, 709 California— 31,017 Light.. thous. of bbls__ 30, 861 29, 770 Heavy ___ -thous. of bbls._ 87, 270 87, 971 87, 640 4,514 Imports thous of bbls 4,988 4,181 69, 948 Consumption (run to stills). thous. of bbls.. 69, 820 63, 351 Oil wells completed number 1,385 1,556 1,342 Price, Kansas-Oklahoma dolls, per bbL. 1.750 1.700 1.750 *See table on p. 26 of the March, 1927, issue for earlier data. i Revised. 75, 304 72, 172 60, 671 i 59, 992 -4.2 +2.03 290, 110 297, 681 287, 777 i 286, 429 +2.6 +3.9 252, 678 37, 432 260, 196 37, 485 256, 060 31, 717 252, 028 34, 401 +3.0 +0.1 +3.2 +9.0 29, 568 87, 886 4,434 69, 082 1,417 1.335 29, 460 88, 383 4,063 66, 964 1,528 1.114 43, 973 88, 466 7,216 63,000 1,304 1.800 38, 634 85, 656 5,906 i 61, 786 1,417 1.800 -0.4 +0,6 -8.4 -3.1 +7.8 -16.6 -23.7 +3.2 -31.2 +8.4 +7.8 -38.1 2 1 Quarter ending Dec. 31, 1926. 3 Quarter ending Mar. 31, 1927. 4 Quarter 5 ending Mar. 31, 1926. Cumulative through Mar. 31. 31 TREND OF BUSINESS MOVEMENTS—Continued The cumulatives shown are through April, except where otherwise noted. Earlier data for items shown here may be found on pages 26 to 134 of the February, 1927, ttSurvey" December PER CENT INCREASE (+) OR DECREASE (— ) 1936 1937 1936 Apr., 1927, from Mar., 1927 Apr., 1927, from Apr., 1926 -4.7 -3.1 +9.8 +4.0 -0.1 -5.4 +9.4 +21.5 -19.0 +12.1 +14.4 +2.1 February March April 25, 024 2,933 3,475 18, 240 49, 714 .218 233, 504 27,886 3,271 3,117 22,464 52, 410 .205 259, 519 26, 577 3,171 3,424 23.371 52, 379 .194 4,453 2,590 8,655 .088 29,700 4,802 3,356 8,753 .083 33, 123 4,608 2,776 8,725 .079 5,516 3,492 7,004 .099 1 32, 801 15,037 13,268 7,014 .098 i 36, 897 30, 185 32, 377 31, 856 29,824 129,029 3,579 670 3,719 22,099 1.250 3,874 639 4,181 22, 561 1.219 4,204 23, 732 1.063 2, 345 1,231 8,361 .244 2,754 2,334 8,035 .240 2,615 1,712 8,176 .240 2,646 2,180 7,640 .240 i 2, 692 12,039 7,368 .240 173 234 222 235 274 220 211 195 199 240 +23.4 -6.4 88 295 98 326 88 319 81 220 47, 363 198, 452 53, 644 201, 340 48, 917 211, 019 26, 110 2, 296 12, 357 5,791 3,763 24, 553 2,963 10, 534 6,055 3,763 34, 546 3,319 16, 228 8,640 4,454 33,234 2,809 15, 148 8,195 5,113 260, 214 210, 528 32, 368 17, 318 244,323 195, 481 31, 897 16, 945 234, 094 186,430 31,435 16, 229 .155 .169 .145 .158 .140 .152 69, 456 255, 469 29,923 60,098 219, 752 20, 791 81, 890 233, 925 20, 396 1,170 23, 235 71, 974 63,957 19, 781 1,221 23. 944 68,506 63, 724 20, 417 143, 912 85, 718 158, 946 67,806 272, 897 January March April CUMULATIVE TOTAL PROM JANUARY 1 THROUGH APRIL 30 Per ct. increase (+) or decrease (-) cumulative 1927 from 1926 1936 1937 92, 631 10,208 13, 795 73,546 107, 447 12, 520 13, 441 81,963 « 748, 435 *740,602 -1.0 20, 421 13, 447 18,976 12, 604 -7.1 —6. 3 94, 720 * 93, 102 114, 928 127, 354 +10.8 15, 597 2, 130 12, 183 +8.0 -13.8 +1.4 10, 434 7,145 10, 284 6,773 -1.4 -5.2 +37.7 -8.3 724 860 +18.8 76 216 -10.2 +15.8 -2.1 +47.7 295 367 +24.4 55, 714 130, 341 i 55, 371 136, 084 -8.8 -11.7 +4.8 +55.1 214, 407 2Q4, 038 -4.8 34, 170 3,293 13, 901 9,144 4,554 33, 608 3,702 14, 591 8,022 5,148 130, 462 12,362 57, 586 31, 124 19, 299 118, 443 11,387 54,267 28, 681 17,093 -9.2 -7.9 -5.8 -7.8 -11.4 276,324 230, 332 31.872 14, 120 280, 782 231, 719 33, 121 15, 942 .152 .160 .122 .170 98, 759 209, 671 17,005 291,964 853, 029 79,^684 310,203 918, 817 88, 115 +6.2 +7.7 +10.6 5 3, 169 5 61, 308 *5 206, 637 332. 844 «71,356 a 3, 795 5 73, 998 209, 227 « 5199, 225 67, 603 +19.8 +20.7 +1.3 -40.1 -5.3 FUELS— Continued Pe troleu m— C ontinued Gasoline: ProductionRaw (at refineries) thous. of bbls.. 27, 498 27, 960 Natural gas (at plants) _. thous. of bbls_. 3,145 3,100 Exports thous of bbls 3,425 3,325 Consumption thous. of bbls 21,419 17,888 Stocks, end of month thous. of bbls_. 46, 058 39, 023 Price, motor, New York dolls, per gal-.210 .210 Retail distribution, 21 States. thous. of gals. . 287, 052 247, 579 Kerosene oil: Production ... thous. of bbls 5,399 5, 113 Consumption thous. of bbls 3,882 3,037 Stocks at refineries, end mo.. thous. of bbls.. 8,575 8,190 Price, 150° water white dolls, per gal._ .094 .093 Retail distribution, 13 States. thous. of gals. . 1 29, 943 30, 279 Gas and fuel oil: Production thous of bbls 32, 936 33, 376 Consumption — By vessels thous. of bbls _ 4,065 3,940 By electric power plants.thous. of bbls.. 821 803 By railroads thous. of bbls 4,283 4,371 Stocks at refineries, end mo..thous. of bbls.. 24, 898 23,195 Price, Okla., 24-26, refineries. dolls, per bbL1.255 1.275 Lubricating oil: Production thous. of bbls 2,699 2,570 Consumption _ thous. of bbls. . 1,827 1,496 Stocks at refineries, end mo.. thous. of bbls.. 7,867 7,576 Price, paraffin, 903 gravity, dolls, per gal_. .240 .240 Asphalt: Production thous. of short tons 214 191 Stocks, end of month _ _ thous. of short tons.. 215 193 Coke: Production thous. of short tons.. 93 93 Stocks, end of month.. thous. of short tons.. 287 291 Wax: Production thous. oflbs_. 54,114 55, 950 Stocks, end of month thous. of Ibs.. 185, 331 192. 835 23,868 i 24, 296 2,693 2,610 4,229 3,126 19, 302 i 20, 848 46, 121 i 45, 767 .190 .180 i 264, 845 i 293, 269 3,402 4,060 1639 715 4, 038 3,882 20,037 i 19, 788 1.381 1.210 -4.0 -9.5 -17.3 -15.1 -0.3 +24.4 -4.8 -19.4 -1.6 +9.7 +8.5 +3.5 1 5 8 +5.2 +19.9 -12.8 -23.0 -5.0 -2.9 -26.6 -16.0 +1.8 + 11.0 0.0 0.0 14, 440 5 2, 471 12, 012 5 5 +16.0 +22.6 -2.6 +11.4 -1.7 HIDES AND LEATHER Hides Imports: Total hides and skins .thous. of lbs_. 23, 352 Calfskins thous. of lbs._ 3,133 Cattle hides thous. of Ibs 9,083 Goatskins thous. of lbs_. 5,617 Sheepskins ___ thous. of lbs_. 3,522 Stocks, end of month: Total hides and skins. ._ thous. of lbs__ 265, 932 Cattle hides thous. of Ibs. . 210, 772 Calf and kip skins _ thous. of Ibs.. 36, 384 Sheep and lamb skins thous. of lbs__ 18, 776 Prices: Green salted, packers' heavy native steers .dolls, per lb_. .151 Calfskins, country No. 1 dolls, per lb_. .167 Inspected slaughter of livestock: CanadaCattle and calves .no. of animals 89, 320 Swine no. of animals 254, 489 Sheep no. of animals 46,201 Leather Production: Sole leather.. thous. of backs, bends, sides.. 1,256 Finished sole and belting thous. of lbs._ 24, 199 Finished upper.. thous. of sq. ft.. 75, 297 Oak and union harness stuffed sides.. 80, 801 Skivers doz 17,784 Unfilled orders: Oak and union harness sides.. 160, 767 Stocks in process of tanning: Sole and belting. _ .thous. of Ibs. _ 84. 713 Upper thous. of sq. ft.. 149, 900 Stocks, end of month: Sole and belting _ thous. of lbs_. 71, 855 Upper thous. of sq. ft.. 274, 762 Exports: Sole thous. of Ibs.. 839 Upper— Total thous. of sq. ft.. 12, 790 Patent _.thous. of sq. ft_. 3,040 Cattle and calf thous. of sq. ft.. 9,143 Sheep thous. of sq. ft_. 607 Prices: Sole, oak, scoured backs, heavy, Boston dolls, per lb._ .43 Chrome calf, "B" grades. .dolls, per sq. ft__ .45 i Revised. -3.8 -15.4 -6.7 -5.2 +14.8 -1.1 -24.1 +3.8 +2.2 -0.7 .114 .165 +8.6 +5.3 +33.3 -3.0 83,706 216, 917 22, 296 90,630 203, 892 15,036 +20.6 -10.4 -16.6 +9.0 +2.8 +13.1 1,403 26. 819 68,747 71, 544 27,405 1,113 21, 644 73,903 114, 678 25, 338 1,106 21, 492 68, 675 109,906 22, 390 126, 087 99,905 76,992 76, 224 89,060 153,364 91, 056 150, 325 79. 022 156, 956 79. 585 155,454 66, 340 274, 197 66, 235 277, 143 106, 182 303, 863 103, 843 306, 572 5 712 1,039 1,150 846 1,398 1.325 -26.4 -36.2 4,929 3,747 -24.0 12, 663 3,144 8,876 644 11, 636 2,257 8,882 497 12, 293 2,404 9,250 639 13, 388 2,896 9,786 706 12. 791 2,520 9,761 510 13, 663 2,978 9,918 767 +8.9 +20.5 +5.8 +10.5 -2.0 -2.8 -1.3 -8.0 49, 160 10, 597 36,306 2,057 49, 980 10, 701 36. 793 2,486 +1.7 +1.0 +1.3 +20.9 .43 .45 .43 .45 .43 .46 5 .43 .46 .46 .46 .46 .46 Cumulative through Mar. 31. 0.0 0.0 -6.5 0.0 32 TREND OF BUSINESS MOVEMENTS—Continued 1926 The cumulatives shown are through April, except where otherwise noted. Earlier data for items shown here may be found on pages 26 to 134 of the February, 1927, "Survey" PEE CENT INCREASE (+) OR 1926 1927 DECREASE (— ) December CUMULATIVE TOTAL PROM JANUARY 1 THROUGH APRIL 30 Perct, increase ( } or tdecrease (-) cumulative 1927 from 1926 January February March April March April Apr., 1927, from Mar., 1927 Apr., 1927, from Apr., 1926 1926 1927 298, 764 i)00 284, 630 480 300, 656 507 267, 300 452 397, 207 679 359, 298 609 -11.1 -10.8 -25.6 -25.8 1, 503, 643 2,567 1, 151, 350 1,939 -23.4 -24.5 27, 292 397 31, 120 559 595 29, 928 400 26,637 657 +6.4 -9.4 579,500 1,943 5 83, 405 2,042 +4.9 +5.1 6.40 6.40 6.40 6.40 6.40 6.40 0.0 0.0 4.85 4.85 4.85 4.85 5.00 5.00 0.0 -3.0 4.00 0.0 -3.6 HIDES AND LEATHER-Continued Leather Products Belting shipments: Quantity .pounds.. 285, 847 Value thous. of dolls 471 Shoes: Production. thous. of pairs.. 25, 415 Exports thous. of pairs.. 498 Wholesale pricesMen's black calf blucher, Mass dolls, per pair.. 6.40 Men's dress welt, tan calf, St. Louis _. .dolls, per pair.. 4.85 Women's black kid, dress welt, lace, oxford dolls, per pair.. 4.00 Gloves, cutTotal dozen pairs.. 176, 605 Dress and street — Imported leather dozen pairs.. 41, 673 Domestic leather dozen pairs 26, 920 Work gloves _ ..dozen pairs . 108, 012 24, 993 491 1 4.00 4.00 4.00 4.15 4.15 196, 270 197, 987 230, 749 218, 961 222, 713 s 625, 033 5 625, 006 0.0 50,917 27, 736 117,617 58, 681 31, 348 107, 958 64, 588 43, 187 122, 974 51. 816 35,963 131, 182 54, 595 35, 544 132, 574 5 137, 836 5 92, 815 5 394, 382 5 174, 186 5 102, 271 5 348, 549 +26.4 +10.2 -11.6 i 55, 559 43, 340 i 43, 426 28, 337 64,375 35, 515 55, 271 42, 152 39, 946 34, 544 5 152, 634 151, 965 s 163, 360 153, 394 +7.0 +0.9 4 4 45, 037 3 91, 279 3 78, 577 50, 614 86, 757 73, 081 45, 497 43, 802 s 133, 186 5 139, 729 +4.9 3 82, 233 3 68, 105 3 14, 128 3 45, 384 4 4 RUBBER Crude Rubber World shipments, plantation long tons.. 57, 386 Imports (including latex) __ long tons _ 37, 754 Consumption (quarterly): Total long tons 2 76, 555 For tires long tons.. 2 64, 891 Consumption by tire mfrs. .thous. of lbs__ 37, 117 Stocks, end of quarter: Total -. ..long tons 2 68, 876 Manufacturers long tons_. 2 58, 785 Dealers long tons 2 10, 101 Afloat .. long tons.. 2 50, 529 Stocks, end of monthUnited Kingdom long tons.. 51, 320 Plantation, afloat long tons.. 77, 300 Wholesale price, Para, N. Y dolls, per lb_. .256 44, 078 57, 065 75,700 .268 61, 170 66,500 .261 74, 390 .286 46, 202 58, 191 48, 301 4 9 890 4 43, 204 14, 452 73, 600 .448 .274 20, 403 64, 330 .395 +30.1 +33.7 +19.2 +21 1 +5.2 +7 5 +19.4 +15.9 +39.9 -10.2 +41.3 +41.0 +42.9 +5.0 -4.2 -30.6 Other Rubber Products Reclaimed rubber (quarterly) : Production long tons_. 2 44, 989 Stocks, end of quarter _ ..long tons 2 18, 160 Scrap rubber (quarterly) : Stocks at reclaimers. _ long tons 2 65, 969 Consumption by reclaimers long tons.. 2 58, 410 Rubber-proofed fabrics: ProductionTotal thous. of yds 1,813 Auto fabrics ..thous. of yds.. 533 Clothing fabrics thous. of yds__ 814 Rubber heels: Production thous. of pairs 15, 941 Shipments— To shoe manufacturers .thous. of pairs. _ 10, 992 To repair trade thous. of pairs 3,421 Stocks, end of month ...thous. of pairs 42, 907 3 45, 547 3 21, 508 4 4 44, 092 13 377 +1.2 +18.4 +3.3 +60.8 3 62, 807 3 58, 303 4 4 85, 593 52, 437 —4 8 —0.2 —26 6 +11.2 1,916 718 784 2,084 718 881 2,427 978 1,190 2,102 449 983 1,579 400 656 s 4, 956 5 1, 226 * 2, 298 5 6, 427 5 2, 414 s 2, 855 +29.7 +96.9 +24.2 13, 660 12, 733 13, 640 17, 635 15, 097 « 50, 918 5 40, 033 -21.4 6,685 * 4, 013 46, 355 6,652 4,062 48, 010 7,906 6,367 47, 822 9,111 3,884 52, 179 6,157 3,282 56, 681 528,366 511,113 5 21, 243 5 14, 442 -25.1 +30.0 603, 908 583, 195 -3.6 -5.1 PAPER AND PRINTING Wood Pulp Mechanical: Production .short tons.. Consumption and shipments. ..short tons_. Stocks, end of month short tons.. Imports _ short tons.. Chemical: Production short tons Consumption and shipments -..short tons__ Stocks, end of month short tons.. Imports short tons,. Price, sulphite dolls, per 100 Ibs . Newsprint Paper Production: United States. short tons_. Canada . short tons Consumption by publishers short tons.. Shipments: United States short tons_. Canada short tons Imports .short tons Exports: United States short tons Canada short tons._ * Revised. 2 Quarter ending Dec. 31, 1926. 147, 405 148, 205 195, 980 22, 556 146, 077 i 125, 740 U66,411 163, 466 * 128, 886 i 148. 360 183, Oil i 180, 100 i 198, 338 18, 378 23, 746 12, 723 165, 680 142, 483 221, 535 19, 772 153, 057 160,368 181, 248 24, 416 186, 918 162, 083 205, 935 15, 866 -0.4 -4.0 +11.7 -16.7 -11.4 -12.1 +7.6 +24.6 626, 329 614,261 88, 564 74, 619 -15.7 221, 200 222, 824 42, 014 144, 425 2.75 229,580 i 206, 646 i 231, 432 229, 382 i 204, 248 i 229, 204 38, 730 i 39, 950 i 42, 178 153, 584 97,063 89, 662 2.75 2.75 2.75 215, 240 210, 876 39, 754 82, 536 2.75 235, 684 236, 768 39, 790 99, Oil 2.95 225, 664 236, 364 39, 078 102, 344 2.95 -7.0 -8.0 -5.7 -15.0 0.0 -4.6 -10.8 +1.7 -19.4 -6.8 888, 052 897, 570 882, 898 873, 710 -0.6 -2.7 427, 099 422, 845 -1.0 135, 069 163, 717 172, 537 135, 755 161, 724 168, 241 121, 318 151, 986 144, 074 133, 731 174, 094 176, 356 130, 236 166, 460 186, 138 145, 900 154, 093 170, 228 i 145, 255 151, 739 172, 670 -2.6 -4.4 +5.5 -10.3 +9.7 +7.8 560, 846 580, 583 648, 794 581, 183 654, 264 674, 809 +3.6 +12.7 +4.0 136, 501 161, 922 170, 159 131, 333 158, 866 166, 102 119, 076 145, 263 134, 209 129, 451 169, 061 166, 531 129, 010 168, 511 147, 736 i 142, 669 i 144, 535 154, 015 153, 157 158, 400 168, 463 -0.3 -0.3 -11.3 -10.7 +9.4 -12.3 554, 861 579, 175 586, 510 508, 870 641, 701 614, 578 -8.3 +10.8 +4.8 902 156,408 1,360 142, 329 874 141, 199 1,648 184, 502 1,073 123, 449 7,772 -34.9 -55.1 540, 963 -33.1 +9.4 Cumulative through Mar. 31. 4,955 591, 479 -36.2 +9.3 31 Quarter ending Mar. 31, 1927. Quarter ending Mar. 31, 1926. 1,475 173, 171 2,392 112,828 5 33 TREND OF BUSINESS MOVEMENTS—Continued 1926 The cumulatives shown are through April, except where otherwise noted. Earlier data for items shown here may be found on pages 26 to 134 of the February, 1927, "Survey" 1926 1927 Decem- January ber PER CENT INCREASE (+) OR DECREASE (— ) Apr., 1927, Apr., 1927, Mar., 1927 Apr., 1926 Per ct. inCUMULATIVE TOTAL FROM JANUARY 1 crease THROUGH APRIL 30 (+> or decrease (-) cumulative 1927 1926 1927 from 1926 February March April March April 232, 944 43, 624 3.30 15,968 17,255 18, 426 22, 769 224, 572 48, 251 3.30 22, 744 28, 462 227, 049 42, 884 3.30 24, 105 26, 389 215, 329 40, 798 3.30 18, 352 14, 800 132, 416 34, 185 3.50 19, 478 12, 415 128, 685 32, 505 3.50 +6.0 +23.8 -7.3 +112. 6 +67.3 -5.2 -4.9 +25.5 -5.7 0.0 634 96 722 132 660 113 699 141 819 135 705 144 649 189 +17.2 +26.2 -4.3 -28.6 2,541 577 10, 244 12, 544 108 12, 919 11, 178 103 11, 632 11, 197 1102 12,085 11, 045 13, 284 13, 072 110 -3.7 -6.2 47,099 47,590 from from PAPEE AND PRINTING-Continued Newsprint Paper— Continued Stocks, end of month: At millsUnited States Canada At publishers In transit to publishers Price, roll, f. o. b. mill short tons.. 12, 030 short tons . 14, 345 short tons 187, 272 short tons _ 41, 560 dolls, per 100 lbs_. 3.50 Printing Book publication: American manufacture no. of titles-Imported .* .... no. of titles Sales books: New orders . thous. of books Shipments thous of books Printing activity weighted index number-- 12, 521 118 11,167 11,471 11, 908 ' 104 -8.6 -10.8 2,900 +14.1 -9.7 46, 063 47,681 +1.2 -3.2 -8.9 521 Box Board * Operation . thous. of inch hours Operation per ct. of capacity Production tons New orders __ .. tons Unfilled orders, end of month tons.. Consumption of waste paper tons.. Shipments tons Stocks, end of month tons._ Stocks of waste paper, end of month: On hand tons In transit and unshipped purchases. -tons. . 6,943 6,999 • 7,583 8,605 7,702 8,629 66.8 165, 074 190, 163 86, 562 159, 969 172, 815 55, 159 71.0 173, 629 194, 285 105, 669 163, 337 175, 528 53, 562 80.2 189, 273 183, 861 102, 005 182, 322 189, 032 53, 327 80.9 219, 682 229, 376 113, 583 209, 388 217, 973 54, 327 75.2 204, 396 196, 528 101, 361 188, 329 208, 750 9,162 84.9 225, 688 219, 994 104, 128 214, 046 222, 018 54,265 83.0 207, 765 194, 824 90, 671 209, 245 208, 281 53, 661 166, 153 34, 662 163, 023 158, 222 40,602 154, 742 43, 789 147, 758 46, 314 154, 923 42, 971 149, 742 50, 480 119, 965 64, 847 111, 569 64, 199 123,839 110,217 66, 099 122, 725 56, 704 116, 589 66, 767 104 97 93 10 102 99 97 11 98 95 90 9 92 87 90 10 97 100 98 14 95 91 87 7 88 88 94 9 90 90 94 10 95 94 87 10 38,062 49,973 -10.5 -10.7 -9.4 -7.0 -7.0 -1.6 -14.3 +0.9 -10.8 +11.8 -9.8 -9.8 -4.2 +0.2 -8.0 -6.9 33, 901 30, 890 827, 778 809, 111 787, 980 804, 050 -4.9 -0.6 799, 077 821, 547 743, 876 791, 283 -6.9 -3.7 458, 742 465, 590 +1.5 -1.3 -8.3 -4.5 +5.8 Book Paper Book paper, total: Production _ short tons.. 117, 613 62, 353 Stocks, end of month short tons Uncoated book paper: €6 Production per ct. of normal 93 Shipments.__per ct. of normal production.. 88 Orders per ct. of normal production 12 Unfilled orders, end of month days.. Coated book paper: 87 Production _ per ct. of normal 92 Shipments.. .per ct. of normal production.. 82 Orders _ per ct. of normal production 5 Unfilled orders, end of month days.. -11.0 -1.0 -5.5 +17.7 100 98 90 12 -6.1 -8.4 0.0 +11.1 -8.0 -11.2 0.0 -16.7 94 97 91 10 92 97 82 8 +5.6 +4.4 -7.4 0.0 +3.3 -3.1 +6.1 +25.0 96, 28^ 70, 979 '89, 461 69, 093 -5.0 +5.1 +5.0 +6.2 360, 580 370, 692 +2.8 42,408 40,855 56,137 Other Paper Wrapping paper: 89,475 91, 760 86,051 93,946 Production short tons 98, 935 68, 465 67, 860 66, 916 73, 395 Stocks end of month short tons 69, 844 Fine paper: 35, 650 35, 148 34, 064 Production short tons 40, 539 i 39, 195 52, 794 52, 408 50, 997 1 49, 518 49, 446 Stocks, end of month short tons All other grades: Production _ .short tons_. 96, 260 100, 755 * 93, 572 11108, 797 99, 211 65, 894 67, 593 i 65, 697 67, 589 Stocks, end of month short tons 66, 662 T otal paper (inc. newsprint and box board) : Production short tons.. 639, 141 i 657, 012 1635,847 i 724, 180 678, 545 315, 704 i 323, 229 i 319, 564 i 329, 862 Stocks, end of month short tons 330, 607 Paper-board Shipping Boxes Production: Total thous. of sq. ft.. 359, 602 371, 748 421, 165 Corrugated.. __ thous. of sq. ft_. 287, 714 293, 677 336, 910 78,071 84,255 Solid fiber thous. of sq. ft_. 71, 888 Operating activity: 71 81 70 Total __ per cent of normal 72 82 70 Corrugated .per cent of normal- . 68 78 Solid fiber per cent of normal 65 Paper boxes:* Shipments _ dollars 1, 542, 409 1, 076, 677 1, 019, 498 295, 729 298, 421 Pay roll dollars 370, 833 +3.4 -0.1 -0.8 -0.3 148, 946 49, 594 161,813 -8.0 50, 038 108,462 101, 035 75, 703 -8.8 +1.4 -1.8 —10.7 414,934 402, 335 73, 666 -3.0 741, 472 i 324, 004 700,960 -6.3 +0.2 -3.2 2, 784, 693 2, 695, 584 323, 666 +2.1 -3.2 421, 110 338, 400 82,710 403, 165 322, 002 81, 163 410, Oil 324, 983 85, 028 379, 259 299, 641 79, 618 -4.3 -4.8 -1.9 79 80 76 77 76 77 85 87 79 81 8? 77 -2.5 -5.0 +1.3 +6.3 1, 534, 373 1, 617, 188 +5.4 +7.5 1, 210, 492 1, 290, 989 +6.6 +1.9 326, 199 323, 881 +0.7 -4.9 i II -7.3 1 0 -8. 5 +3. 8 1,231,367 1, 139, 753 335,097 306,027 Other Paper Products Rope-paper sacks, shipments.. -index number.. Abrasive paper and cloth: Domestic shipments _ . reams Foreign shipments .. reams . _ Labels: New orders per ct of capacity 120 99 108 118 108 115 60, 291 14,490 76, 717 12, 575 83, 229 13, 569 98, 054 20, 844 85, 334 16, 714 96,354 45.1 84.5 81.9 81.0 79.7 102.8 18, 907 104 -0. 9 86, 142 -13. 0 15, 669 4-19.8 ! +6.7 98.2 BUILDING CONSTRUCTION AND HOUSING Rental advertisements: 1,070 Portland, Oreg number 3,385 Minneapolis, Minn . number.. Real estate conveyances (41 cities) number.. 147, 057 i Revised. 351, 116 56, 993 343, 334 63, 702 -2.2 +11.8 5,141 15, 460 5 447, 181 16, 164 « 426, 947 4,457 -13.3 +4.6 -4.5 -1.6 ! -18.8 i 1,144 3,131 135, 935 1,057 2,955 129. 258 1,125 4,183 161. 754 1,131 5,895 1,365 3,856 166, 418 1.357 6,209 +0.5 ! -16.7 +40. 9 -5. 1 166, 224 *See table on p. 24 of the April 1927 issue for earlier data. 34 TREND OF BUSINESS MOVEMENTS—Continued 1926 The cumulatives shown are through April, except where otherwise noted. Earlier data for items shown here may be found on pages 26 to 134 of the February, 1927, "Survey" 1937 PER CENT INCREASE (+) OR DECREASE (— ) 1936 January February March crease (+> or de- crease ! December Per ct. in- CUMULATIVE TOTAL PROM JANUARY 1 THROUGH APRIL 30 April March April Apr., 1927, from (-) Apr., 1927, from Mar., 1927 Apr., 1926 -3.1 -4.1 1936 cumulative 1937 1927 from 1926 BUILDING CONSTRUCTION AND HOUSING-Continued Building Costs (Index Numbers) Building materials: Frame house, 6-room, 1st of month . .. . Brick house, 6-room, 1st of month Concrete factory costs (Aberthaw), 1st of following month ._ Building costs (Engineering News Record), 1st of following month_ . Building costs (A. G. C.)*_ . Building volume (A G. C.)* Construction index: Frame index number Brick, wood frame index number . Brick, steel frame index number.. Reinforced concrete. . index number 189 190 190 190 191 190 191 190 190 189 196 197 196 197 -0.5 -0.5 196 194 193 193 193 199 199 0 212 196 162 210 197 129 209 199 121 209 201 135 207 201 166 207 197 119 207 198 151 -1.0 0 23.0 0 +1.5 +9.9 204 213 198 200 204 213 198 200 204 213 197 200 204 213 197 200 204 213 197 200 205 213 200 201 205 213 200 202 0 0 0 0 -0.5 0 -1.5 -1.0 9,856 5,941 37, 033 2,812 10, 037 3,721 29, 757 8,799 4,237 14, 712 12, 259 15, 431 14, 981 -16.7 31, 025 47, 938 49, 139 5,475 47, 731 ' 4,515 51, 756 -0.4 -17.5 -18.2 +74.1 -7.8 -8.0 49, 510 24, 811 170, 442 13, 941 45, 807 23, 384 156, 451 15, 286 -7.5 -5.8 -8.2 +9.6 5,587 61, 531 3,266 5,880 5,889 50, 568 52, 348 7,569 5,582 82, 827 79, 722 81, 800 83, 454 -26.3 -3.7 -5.2 -4.5 19, 251 279, 412 21, 177 265, 465 +10.0 -5.0 69,634 47, 139 199, 483 21, 912 77, 829 27, 134 160, 029 16, 675 65, 937 40, 381 158, 004 21, 842 106, 925 47, 560 240, 312 35, 413 78, 084 40, 032 259, 841 104, 113 47, 776 252, 425 28, 576 87, 895 41, 524 257, 965 -27.0 -15.8 +8.1 -3.1 -11.2 -3.6 +0.7 -7.8 306, 841 222, 802 864, 966 97, 771 328, 775 155, 107 818, 186 108, 256 +7.1 -30.4 -5.4 +10.7 63,357 118, 583 520, 107 13, 725 31, 625 53, 638 368, 930 16, 771 45, 765 58, 227 113, 246 583, 766 46, 627 97, 283 576, 800 19, 779 50, 685 76, 940 552, 253 37, 292 -8.9 +11.3 -2.0 +14.9 381, 286 19, 475 63, 948 101, 717 595, 874 17, 436 +5.7 162, 059 291, 712 1, 946, 149 « 45, 926 199, 565 317, 959 1, 929, 856 5 53, 682 +23.1 +9.0 -0.8 +16.9 43, 758 37, 911 26,285 26, 808 39, 724 42, 855 52, 408 +48.2 -24.2 167,408 130, 728 -21.9 1 -3.0 1 Building Contracts and Losses Contracts awarded (36 States): Commercial buildings thous. of sq. ft_. Industrial buildings thous. of sq. ft_. Residential buildings thous. of sq. ft.. Educational buildings thous. of sq. ft_. Other public and semipublic buildings .thous. of sq. ft_. Grand total thous. of sq. ft.. Contracts awarded, value (36 States) : Commercial buildings ._ -.thous. of dolla_. Industrial buildings thous of dolls Residential buildings __ thous. of dolls . Educational buildings thous. of dolls.. Other public and semipublic buildings thous of dolla Public works and utilities. -thous. of dolls.. Grand total thous of dolls Contracts awarded, Canada thous of dolls Fire losses: United States and Canada.thous. of dolls.. 2,329 2,967 4,760 49,358 6,239 9,187r 34,326 7,033 3,936 5,277 4,907 37,245 +47.3 +47.2 LUMBER PRODUCTS Softwood Lumber Southern pine: 479, 370 454, 005 -7.2 Production (computed) M ft. b.m_. 436, 869 422, 022 403, 807 444, 469 412, 472 -9.1 1, 814, 229 1, 682, 770 469, 737 492, 779 -3.2 -11.0 1, 856, 245 1, 635, 560 Shipments (computed) M ft. b . m _ _ 345, 865 382, 751 361, 403 452, 940 438, 466 475, 836 474, 287 -5.8 -New orders (computed). M ft. b. m _ _ 337, 200 426, 558 402, 162 459, 862 433, 287 -8.6 1, 887, 952 1, 721, 869 -2.8 Stocks, end of mo. (computed).M ft b. m__ 1, 164, 232 1, 219, 779 1, 25?, 224 1, 239, 474 1, 205, 135 1, 178, 497 1, 120, 803 +7.5 64, 492 Exports, lumber M ft b. m 51, 362 56, 908 +56. 7 +41.1 58, 692 80, 305 197, 454 46,648 51, 244 242, 689 126 183 +337. 1 +112. 6 74 261 1,071 389 89 19, 017 Exports, timber M ft. b. m.. 1,810 47.96 46.88 40.04 -0.3 -15.6 Price flooring dolls per M ft. b m 41.31 40.81 39.66 39.56 Douglas fir: 612, 382 521, 062 419, 893 484, 355 410, 045 -5.3 Production M ft b m 510, 766 511, 213 -7.0 2, 195, 712 1, 916, 379 629, 392 538, 072 +10. 8 +5.2 2, 267, 334 1, 974, 127 Shipments (computed) M ft. b. m_- 405, 121 411,836 485, 698 510, 766 565, 827 514, 795 +0.4 660, 280 458, 839 518, 138 548, 368 +6.5 2, 333, 139 2, 069, 475 New orders M ft. b. m 401, 987 546, 130 78, 509 61, 632 53, 944 -2.1 -24.2 48, 025 46, 699 256, 498 196, 388 Exports, lumber M ft. b. m_. 47, 794 47, 720 37, 909 54, 261 +14.5 -17.1 22, 994 45, 003 26, 449 39, 294 155, 822 133, 740 Exports, timber M ft. b. m 46, 442 17.24 16.50 16.50 16.43 +2.6 16.89 17.19 16.80 +4.5 Price, No. 1 common dolls per M ft. b. m Price, flooring, 1 x 4, "B" and 40.20 36.24 -0.5 -10.9 40.20 35.92 35.99 35.81 better, V. G_. M ft. b. m 36.06 California redwood: 42, 413 -19.4 -19.4 57, 078 34, 199 182, 302 141, 227 32, 099 32, 511 42, 418 Production (computed) M ft. b. m_. 30, 852 41, 616 41, 370 -13.6 35. 851 44, 278 24, 043 37, 061 51, 273 150, 184 168, 463 +7.0 Shipments (computed) M ft. b. m._ 47, 394 53, 913 39, 390 -20.9 +20.3 40, 121 177, 783 32, 014 42, 600 59, 952 190, 067 Orders received (computed) M ft. b. m._ California white pine: 148, 662 +29.3 -61.5 44, 247 44, 323 57, 305 96, 129 81, 226 55, 821 346, 608 Production M ft b m 201, 696 115, 576 123, 666 73, 874 100, 206 -4.8 -19.0 442, 988 355, 047 89, 293 75, 706 105, 261 Shipments . M ft. b. m 485, 007 521, 153 477, 411 591, 017 -8.4 Stocks, end of month M ft b m 690, 157 560, 748 522, 422 -8.6 Western pine: 164, 256 +31.1 154, 303 493, 403 151, 165 69, 113 80, 234 U17,722 421, 372 Production (computed) M ft. b. m__ 88, 122 -6.1 144, 836 152, 165 542, 347 +7.1 +6.3 529, 409 Shipments (computed) M ft. b. m__ 112,917 114, 579 117, 193 1 143, 711 153, 926 Stocks, end of mo. (computed) _M ft. b. m.. 1, 127, 426 1, 069, 835 1, 036, 454 11,014,062 993, 518 1, 094, 268 1, 081, 820 -2.0 -8.2 North Carolina pine: 48, 895 54, 222 49, 462 +1.5 47, 712 55, 013 48, 755 193, 340 200, 942 Production (computed) _M ft. b. m.. 48, 797 -8.8 47, 054 57, 967 51, 191 45, 388 47, 348 47, 838 +7.0 188, 986 204, 050 Shipments (computed).. _M ft. b. m_. 45, 367 +8.1 Northern pine: Lumber35, 127 42, 302 141, 031 36, 742 45, 493 +36.0 27, 693 31, 109 Production M ft. b. in 32, 493 -7.0 149, 606 33, 603 41, 353 144, 290 43, 260 46, 732 28, 115 30, 557 38, 777 +6.6 -11.5 169, 968 Shipments . .. _ _ M ft. b. m 41, 874 +31.4 42, 000 32, 393 44, 555 +6.4 25, 550 33, 908 140, 040 New orders M ft. b m 29, 184 161, 401 Lath6,532 8,791 7,251 7,338 9,866 -2.1 Production M ft b m 10, 076 +51.0 6,372 36, 395 30, 987 7,875 7,795 9,675 13, 599 9,570 +22.9 +1.1 40, 007 31, 606 Shipments M ft. b. in 4,668 6,261 Northern hemlock: 5 5 17, 727 21, 854 17, 820 Production . _. _ _.M ft. b. m 16, 291 13, 602 19, 811 50, 661 59, 485 8 14, 474 15, 773 21, 462 1 14, 629 20, 326 44, 226 Shipments _M ft. b. m._ 12, 756 « 51, 709 5 i Revised. " See table on p. 25 of the April, 1927, issue for earlier data. Cumulative through Mar. 31. -7.2 -11.9 -8.8 +22.9 -90.5 -12.7 -12.9 -11.3 -23.6 -14.2 -22.5 +12.2 +6.9 -41.8 -19.9 -14.6 -2.4 +3.9 +8.0 -5.7 -15.1 -13.2 -14.9 -21.0 +17.4 +16.9 35 TREND OF BUSINESS MOVEMENTS—Continued 1926 The cumulatives shown are through April, except where otherwise noted. Earlier data for items shown here may be found on pages 26 to 184 of the February, 1927, "Survey" 1937 CUMULATIVE TOTAL PROM JANUARY 1 THROUGH APRIL 30 PER CENT INCREASE (+) OR DECREASE (— ) 1936 Apr., 1927, from Mar., 1927 Apr., 1927, from Apr., 1926 3,077 3,143 17, 368 2,922 7,577 -23.3 -11.9 -1.8 -20.3 +13.2 -17.2 -12.7 36 1 +1.9 +8.8 2,781 2,597 -20.0 -12.0 ! 2,821 1,388 2,472 1,513 -20.5 -6.3 12 0 +26.8 54, 622 33, 301 47, 226 30, 249 802, 761 200, 180 290, 994 769, 992 221, 397 247, 154 790, 558 224, 164 252, 375 -6.9 -11.4 -4.2 661, 711 159, 759 241, 518 617, 375 142, 647 229, 171 593, 423 168, 507 184, 817 626, 807 175, 405 192, 072 -6.7 -1.5 -10.7 -18.7 -5.1 +19.3 230, 731 79, 605 68, 816 234, 933 81, 904 68, 633 219, 108 72, 069 69, 044 208, 965 68, 952 68, 884 193, 150 61, 955 67, 863 -6.7 -12.0 +0.6 +13.4 +16.3 +1.7 84, 000 94, 000 100, 000 83,000 93,000 94, 000 62, 000 84,000 89, 000 82, 000 86, 000 90, 000 80, 000 85,000 81, 000 -25.3 -9.7 -5.3 -22.5 -1.2 +9.9 December January 2,996 2,502 12, 202 2,543 6, 789 2,417 2,809 11,810 3,621 7, 591 2,606 3,303 11, 103 2,564 7,574 3,319 3,115 11, 291 3,736 7,279 2,547 2,745 11, 093 2,978 8,243 2,874 4,011 17, 473 4,245 7,830 2,462 2,441 2,117 2,858 2,285 2,357 1,907 2,088 2,260 2, 361 1,927 2,738 2,047 2,176 1,918 15, 578 22, 227 38, 053 25, 178 40, 162 28, 472 52, 610 34, 848 921, 875 242, 602 315, 826 898, 606 238, 364 304, 723 862, 624 228, 621 304, 766 862, 428 225, 823 303, 719 718, 373 176, 443 255, 457 698, 475 168, 645 252, 811 663, 146 162, 053 242, 949 234, 651 78, 594 67, 841 232, 338 83, 627 59, 143 82, 000 79, 000 74,000 84, 000 84, 000 90,000 February March April March April Per ct. increase (+) or decrease (-) cumulative 1927 from 1926 1926 1927 12, 250 14, 405 10, 889 11,972 -11.1 -16.9 13, 722 30, 594 12, 899 30, 687 -6.0 +0.3 10,013 9,701 -3.1 9,7:9 9,363 -4.1 130, 825 88, 498 -15.5 -11.4 328, 000 348,000 358,000 313, 000 355, 000 373, 000 -4.6 +2.0 +4.2 -11.0 10, 054, 120 674, 370 +8.3 8, 975, 453 674,018 -10.7 -0.1 39, 039 35,828 -8.2 LUMBER PRODUCTS— Continued Hardwood Lumber Walnut lumber: Production _ _M ft. b. m . Shipments M ft. b. m _ _ Stocks, end of month. _M ft. b. m New orders* M ft b m Unfilled orders, end of month*. M ft. b. m__ Walnut logs: Purchased M ft. log measure Made into lumber and veneer M ft log measure Stocks, end of month... M ft. log measure. . Northern hardwoods: Production M ft. b. m _ _ Shipments _ M ft. b. m Total stocksTotal hardwoods M ft. b. rn.. Gum M ft. b. m_. Oak M ft. b. m._ Unsold stocks — Total hardwoods M ft. b. m__ Gum-. . . _ . _ M ft. b. m Oak M ft. b. m._ Unfilled ordersTotal hardwoods M ft. b. m._ Gum_. . _ _ M f t . b. m Oak M ft. b. m__ All hardwoods: Production (computed) M ft. b. m.. Shipments (computed) M ft. b. m._ Orders (computed) __M ft. b. m__ 5 | 154,873 5 99, 863 5 5 +1.5 -10.7 +15.3 Total Lumber Production, 10 species M ft. b. m__ 2, 108, 796 2, 098, 788 2, 216, 344 ^2,378,995 2, 281, 326 2, 737, 616 2, 591, 512 -4.1 Exports, planks, joists, etc M ft. b. m._ 166, 080 153, 700 178, 697 153, 607 188, 014 188, 249 173, 675 +22.3 Retail yards, Minneapolis district: 1 Sales . M ft. b m 9,824 6,134 6,055 6,061 13, 809 9,943 13, 777 +40.6 Stocks, end of month M ft. b. m 105, 096 89, 444 100, 202 103, 928 106, 152 106, 752.. 1 109, 235 +1.0 Composite lumber prices: Hardwoods dolls, per M ft. b. m_. 41.15 41.11 40.80 41.08 40.65 43.00 -0.4 41.96 Softwoods dolls, per M ft. b. m._ 29. 78 29.74 29.76 30.26 31.44 30. 52 i 31.48 -0.9 Flooring Maple flooring: Production M ft b m Shipments M ft. b m Stocks, end of month M ft. b. m__ New orders M ft. b. m__ Unfilled orders, end of month.. M ft. b. m__ Oak flooring: Production.. -_ . M ft. b. m Shipments M ft. b m Stocks, end of month M ft. b. m _ _ New orders M ft. b. m__ Unfilled orders, end of month. .M ft. b. m__ +0.2 -2.8 -3.1 -3.0 11, 750 9,541 35, 483 7,071 7,669 9,842 7,880 29, 034 6,587 6,224 8,888 8,085 29, 710 6,405 6,847 9,589 9,363 30, 367 8,120 9,300 8,141 10,022 | 28,154 I 9,103 | 10,856 9,624 9,221 31, 197 9,224 11, 761 9,339 9,099 30, 733 8,281 9,919 -15.1 +7.0 -7.3 +12.1 +16.7 -12.8 +10.1 -8.4 +9.9 +9.4 35, 730 31, 989 36,460 35,350 +2.0 +10.5 32, 852 30,215 -8.0 37, 489 30, 504 67, 079 34, 595 35, 995 35, 215 31, 929 70, 629 37, 497 41, 061 35, 601 34, 925 70, 090 39, 133 45, 275 39, 917 42, 535 67, 833 44, 609 47, 975 35,697 40,970 62,196 j 45,763 '< 51,623 47, 686 43, 543 57, 291 42, 267 45, 231 48, 642 43, 007 62, 656 40, 223 42, 491 -10.6 -3.7 -8.3 +2.6 +7.6 -26.6 -4.7 -0.7 +13.8 +21.5 186, 039 165, 756 146, 430 150, 359 -22.3 -9.3 150, 347 167, 002 +11.1 48, 563 46, 819 41, 957 73, 694 i 49, 529 65, 131 60, 207 47, 330 46,214 i 36,952 | 57, 364 58, 484 48, 486 49, 344 -23.2 -21.9 -4.7 -25.1 201, 218 197, 907 -1.6 44, 273 32,973 -25.5 41, 452 47, 706 31, 877 40, 836 -23.1 -14.4 Wooden Furniture Household furniture and case goods: Shipments dolls., average per firm Unfilled orders dolls., average per firm.. Grand Rapids district: Shipments .No. of days' production.. New orders No. of days' production Unfilled orders, end of month No. of days' production _ Outstanding accounts, end of month, No. of days' sales.. Cancellations per cent of new orders.. Plant operation per cent of full time.. Piano benches and stools: New orders (a v. per firm) _ ... _ .dollars Unfilled orders, end of month (av. per firm).__ _ dollars.. Shipments — Value (av. per firm) dollars Quantity (total) pieces 28 15 25 46 25 19 27 22 30 25 24 ! 20 42 57 49 42 68 55 56 31.0 100.0 52 6.0 98.0 55 14.0 100.0 55 16.0 97.5 52 13.5 100.0 50 23.0 100.0 10, 469 8,427 8,580 7,837 8,129 10, 811 8,784 +3.7 2,600 3,490 2,921 2,286 2,004 3,154 3,149 x-12.3 14,300 17, 763 7,259 9,347 8,255 10, 601 8,428 10, 670 7,935 10, 218 10,916 13, 222 8,782 11, 140 -5.8 -4.2 3,401 4,721 3,301 4,189 5,349 4,278 Plywood and Veneer Plywood: New orders thous. of sq. ft. of surface.. 2,913 3,219 3,711 Shipments thous. of sq. ft. of surface-3,891 3,348 2,991 Unfilled orders, end of month thous. of sq. ft. of surface.. 3,579 3,591 3,587 Rotary-cut veneer: Purchases number of carloads 82 72 59 Receipts number of carloads.. 151 70 116 5 i Revised. Cumulative through Mar. 31. i 90 100 -7.5 -36.4 -9.6 -8.3 84 214 -6.7 -33.3 126 708 84 j -16.0 * See table on p. 22 of the May, 1927, issue for earlier data. 305 -56.9 36 TREND OF BUSINESS MOVEMENTS—Continued 1936 The cumulative* shown are through April, except where otherwise noted. Earlier data for items shown here may be found on pages 26 to 134 of the February, 1927, "Survey" December January February PER CENT INCREASE (+) OR DECREASE (— ) 1926 1927 March April March April Apr., 1927, from Mar., 1927 Per ct. increase (+) or decrease (-) cumulative 1927 from 1926 CUMULATIVE TOTAL PROM JANUARY 1 THROUGH APRIL 30 Apr., 1927, from Apr., 1926 1926 1927 LUMBER PRODUCTS— Continued Barrel Headings Circled headings for wooden barrels: Production (rough) . Shipments (finished) New orders (finished) Unfilled orders, end of month Stocks on hand, end of month sets. 724, 085 508, 827 739, 936 965, 163 854, 926 451, 868 332, 551 sets.. 860, 875 617, 160 782, 564 779, 871 596, 346 596, 824 492, 072 sets 630,909 568, 835 523, 066 250, 939 282, 009 308, 803 504, 087 sets.. 1, 374, 498 1, 993, 216 1, 812, 076 1, 072, 794 1, 166, 942 987, 222 1, 237, 374 sets.. 2, 977, 129 2, 924, 016 3, 035, 957 3, 309, 362 3, 278, 677 1, 853, 125 1, 411, 589 -11.4 +157.1 -23.5 +21.2 +12.4 -44.1 +8.8 -5.7 -0.9 +132. 3 3, 068, 852 +127. 5 2, 775, 941 +20.0 1, 624, 849 +46.1 1,348,890 2, 313, 350 1,112,061 STONE, CLAY, AND GLASS PRODUCTS Clay Products Face brick, averages per plant: 610 Production - ..thousands.. 338 Shipments thousands.. 2,241 Stocks, end of month _ -thousands . Unfilled orders, end of month.. thousands.. 673 Common brick: Stocks, end of monthBurned thousands.. 453, 452 Unburned _ thousands.. 88, 997 Shipments thousands.. 149, 315 Unfilled orders, end of month.. thousands.. 311, 979 64 Plants closed down number.. 15.50 Price, red, New York dolls, per thous... Paving brick: 13, 815 Production, actual thousands 10, 681 Shipments . . thousands ._ 65,800 Stocks, end of month thousands.. 10,003 Orders received thousands 109 Cancellations thousands . _ Unfilled orders, end of month.. thousands.. 50, 701 Operations, relation to 86 capacity per cent Sand lime brick: 12,049 Production thousands.. 3,825 Shipments by rail thousands.. 7,401 Shipments by trucks thousands.. 11, 583 Stocks, end of month. thousands.. 7,701 Unfilled orders, end of month. .thousands.. Vitreous china plumbing fixtures: Orders received pieces.. 167, 752 Shipments - pieces _ 206, 199 Unfilled orders, end of month pieces.. 578, 251 570,069 Stocks, end of month .pieces Floor and wall tile: 5,311 Production thous. of sq. ft.. 4,935 Shipments, quantity thous. of sq. ft__ 1,877 Shipments, value . thous. of dolls . 8,776 Stocks, end of month thous. of sq. ft.. Architectural terra cotta, new orders: 10, 414 Quantity net tons.. 1,155 Value . thous. of dolls. . Portland Cement 10, 744 Production.. ..thous. of bbls.. 6,432 Shipments thous. of bbls.. 20, 616 Stocks end of month thous of bbls Wholesale price: 1.65 Chicago district dolls, per bbl 1.65 Lehigh Valley dolls per bbl Highways Concrete pavements, new contracts: 6,797 Total thous. of sq. yds.. 3,518 Roads__ .thous. of sq. yds_. Federal-aid highways: Completed— Cost thous. of dolls.. 26,298 951 Distance miles Under construction, end of month.. miles.. 10, 047 Plate Glass 7,344 Production, polished. thous. of sq. ft.. Glass Containers Actual production: 2,045 Quantity gross.. 69.0 Relation to capacity per cent 2,414 New orders gross.. 1,592 Shipments gross.. 9,453 Unfilled orders end of month pross 6,315 Stocks, end of month gross Illuminating Glassware Production: 3,879 Total number of turns.. Ratio to capacity per ct. of capacity.. 50.0 40.2 New orders per ct. of capacitv 47.2 Shipments per ct. of capacity Unfilled orders, end 1.0 of month number of weeks ' supply . 3.7 Stocks, end mo number of weeks' SUDD!V 'Revised. 489 282 2,409 727 560 421 2,767 871 852 687 2,939 1,007 462, 565 58, 331 93,806 324, 837 68 17.00 487, 217 62, 455 115, 013 335, 223 78 17.00 11, 665 7,142 64,893 11,964 188 55, 869 729 774 2,614 1,074 648 628 2,443 1,032 752 798 2,337 1,334 427, 484 69, 160 184, 206 369, 857 54 17.00 16.50 339 392 69^ 597 150, 485 280, 612 17 17.00 265, 093 61, 934 146, 431 277, 412 6 17.00 -2.9 -2.9 12, 902 5,501 71,640 4,639 55 55,982 23, 132 7,787 84, 316 15, 063 985 57, 550 22, 973 13, 864 91, 670 20, 095 327 67, 823 22,642 10, 996 123, 997 21, 805 18 63, 364 22, 496 16, 491 128, 137 18, 358 749 64,081 -0.7 +78.0 +8.7 +33.4 -66.8 +17.9 +2.1 -15.9 -28.5 +9.5 -56.3 +5.8 65 57 57 +62.5 +110 212, 798 219, 177 344, 712 617, 328 243, 499 268, 792 504, 803 472, 199 189, 391 221, 168 473, 026 508, 692 -2.0 -9.9 -1.8 +3.3 +12.4 -0.9 -27.1 +21.4 5,524 4,867 1,817 8,422 5,242 5,084 1,832 8,224 -14.4 +12.7 -11.1 +6.7 2,460 2,150 2,630 2,164 « 370, 039 « 393, 025 -3.1 -3.0 +11.9 -19.5 +6.9 +0.7 +6.2 1! 20 22 40 8,307 3,939 5,438 17, 032 17, 908 9,679 5,843 6,792 13,866 18, 580 16, 748 7,707 10, 811 13, 802 25,415 190, 769 279, 299 497, 700 559, 259 144, 860 265, 390 377, 170 545, 769 217,059 243, 138 351,090 597, 823 5,514 4,331 1,648 10, 010 5,129 4,351 1,658 11,032 5,467 5,188 1,963 11, 283 9,851 1,138 7,948 882 l 12, 343 i 1, 350 14, 633 1,513 15,617 2,046 18, 924 2,322 +18.6 +12.1 -22.7 -34.8 8,258 5,968 22,914 7,377 6,731 23, 560 11,452 11,083 i 23, 922 14,048 14, 350 23, 620 10, 390 9,539 23,236 12,440 12, 965 22, 710 +22.7 +29.5 -1.3 +12.9 +10.7 +4.0 1.64 1.63 1.60 1.55 1.60 1.55 1.60 1.55 1.65 1.75 1.65 1.75 0.0 0.0 -3.0 -11.4 4,236 2,656 4,391 2,336 9,300 5,135 15, 482 10, 264 7,938 4,663 13, 563 8,758 +66.5 +99.9 8,115 508 9,839 5,385 491 9,599 10, 119 435 9,632 6,170 265 9,821 8,535 430 10,690 9,981 495 10, 851 8,484 9,790 11,641 10,299 11,617 2, 032 71.3 2,725 1,803 10, 274 6,541 1,942 70.8 2,853 1,867 11,219 6,646 2,234 72.3 2,390 2,368 11,137 6,488 2,205 74.1 2,004 2,346 10, 658 6,341 2,948 35.6 35.5 40.5 2,620 37.2 48.2 40.7 3,023 39.0 39.0 41.0 3,030 39.8 39.6 38.8 0.6 3.7 1.1 3.6 1.0 3.5 1.0 3.7 84, 637 47, 620 70, 672 34, 294 -16.5 -28.0 64,601 51, 761 -19.9 765, 486 935,484 948, 391 1,007,004 -18.2 +6.2 8 8 8 16, 110 « 13, 870 « 5, 269 +5.3 +4.1 +5.4 58, 625 7,415 44, 775 4,883 -23.6 -34.1 38, 448 41, 135 33, 998 38, 132 -11.6 -7.3 +14.1 +17.2 30, 142 18, 309 33, 409 20, 391 +10.8 +11.4 -39.0 -39.1 +2.0 -38.2 -46.5 -9.5 42,463 1,803 43, 182 29, 789 1,699 38, 891 -29.8 -5.8 -9.9 10, 726 -11.5 -4.0 43, 616 40,214 -7.8 1,977 68.3 2,290 2,056 10, 116 5,915 2,051 74.2 1,663 2,179 9,522 5,781 -1.3 +2.5 -16.2 -0.9 -4.3 -2.3 +7.5 -0.1 +20.5 +7.7 +11.9 +9.7 7,867 8,413 +6.9 8,923 7,683 9,972 8,384 +11.8 +9.1 3,517 43.9 45.3 42.9 3,575 47.1 42.4 43.9 +0.2 +2.1 +1.5 -5.4 -15.2 -15.5 -6.6 -11.6 13, 063 11,621 -11.0 1.0 1.1 0.0 6.4 6.3 +5.7 ^Cumulative through Mar. 31. 0.0 -41.3 15, 310 13, 321 5, 001 8 i jj 37 TREND OF BUSINESS MOVEMENTS—Continued 1936 The cumulatives shown are through April, except where otherwise noted. Earlier data for items shown here may be found on pages 26 to 134 of the February, 1927, "Survey" December 1927 January February PER CENT INCREASE (+) OR DECREASE (— ) 1926 March April March April Apr., 1927, from Mar., 1927 Apr., 1927, from Apr., 1926 CUMULATIVE TOTAL FROM JANUARY 1 THROUGH APRIL 30 1926 1927 Per ct. increase or decrease cumulative 1927 from 1926 CHEMICALS AND OILS Chemicals Sulphuric acid: Exports . thous. oflbs 639 519 867 420 Price wholesale, 66°, N. Y.dolls. per 100 Ibs. _ .75 .75 .75 .75 Nitrate of soda: Imports... long tons 63, 660 47, 240 33, 578 94, 151 Production in Chile— Quantity metric tons.. 86, 731 79, 151 74, 253 90,479 Units reporting number of plants. _ 25 30 28 28 Potash, imports.long tons 18,394 29, 347 30, 189 19, 308 Sulphur: * 8 3 Production (quarterly) long tons. _ 511, 287 565, 760 Acid phosphate: Production short tons . 309, 033 289, 095 i 276, 221 227, 590 Stocks, end of month short tons.. 2, 191, 725 2,302,048 12,179,513 1, 624, 838 Shipments short tons.. 16, 957 85,423 211, 082 Fertilizer: Exports _ long tons 70, 466 67, 678 111, 190 109, 580 Consumption in Southern States _ _ short tons 103, 048 526, 471 836, 910 1,498,707 Dyes and dyestuffs, exports: Vegetable thous of Ibs 177 227 253 388 Coal-tar thous. oflbs.. 2,104 1,865 2,951 3,595 Price index numbers: Crude drugs _ _ index number. . 203 203 204 206 126 Essential oils _ index number. . 135 125 126 Drugs and pharmaceuticals-index number. . 155 156 155 155 Chemicals index number.. 114 114 113 113 Oils and fats index number.. 129 128 134 137 1,024 .75 1,029 +143.8 .70 0.0 1,325 .70 97,480 171, 929 124, 370 15, 911 228,000 79 38, 856 216, 362 75 24, 827 -0.5 +7.1 +3.5 -21.6 -17.6 -35.9 2, 831 -29.5 -51.6 556,280 269, 120 « 683, 000 « 243, 883 63,683 83,802 +31.6 «1,000,262 « 792, 906 -20.7 -64.3 +10.7 +46.3 i 386, 839 i 326, 344 298, 227 11,545,530 1, 081, 293 193,613 - -- 106, 850 110, 588 +17.4 870, 224 1, 740, 493 673,483 -41.9 +29.2 -22.7 +81.8 -65.9 -26. 4 128, 689 4,018 300 1,227 228 2,925 165 1,666 207 123 156 113 132 205 192 156 112 152 204 179 156 113 149 +0.5 -2.4 +0.6 0.0 -1.5 +16.4 "»~3l3~462~ "«~256,~7l8~ ~-I§~I 370, 924 417, 137 4, 407, 841 3, 732, 312 +12.5 -15.3 734 7,754 1,168 9,637 +59.1 +24.3 +1.5 -31.3 0.0 0.0 -11.4 Wood Chemicals Acetate of lime:* ProductionUnited States thous. of Ibs Canada thous. of lbs._ ShipmentsUnited States thous. oflbs.. Canada .. . ..thous. of Ibs Stocks, end of month— United States thous. oflbs Canada thous. oflbs.. Exports _ thous. oflbs.. Price, wholesale dolls, per cwt._ Methanol, crude: * Production— United States gallons.. Canada gallons. _ Stocks at crude plants, end of monthUnited States _ _ gallons.. Canada _ gallons.. Stocks at refineries and in transit— United States ._ gallons.. Canada gallons Exports ..gallons.. Price, wholesale, N. Y dolls, per gal_. Wood: ConsumptionUnited States ._ cords.. Canada cords Stocks, end of monthUnited States. . cords Canada cords Methanol, refined: ProductionUnited States __ gallons. . Canada gallons.. Stocks, end of monthUnited States gallons-Canada gallons.. 13,468 1,084 14, 181 1,200 12,667 1,046 14,223 1,007 13, 139 932 14,314 838 14, 226 648 -7.6 -7.6 -7.4 +43.8 55, 870 3,660 54, 210 4,185 -3.0 +14.3 14, 187 1,376 10, 067 509 10, 184 171 14, 002 785 13,560 428 9,954 748 11,903 732 -3.2 +13.9 -45.5 -41.5 43, 721 2, 580 47, 813 1,893 +9.4 -26.6 16,421 1,440 675 3.50 19, 910 2,187 „ 1,630 3.50 22,422 2,988 500 3.50 22,620 3,057 1,579 3.50 22, 207 3,454 974 3.50 25, 991 1,934 2,251 3.25 28,523 1,804 503 3.25 -1.8 -22.1 +13.0 +91.5 -38.3 -93.6 0.0 +7.7 4,655 4,683 +0.6 738, 958 36, 038 764, 670 30, 017 -8.9 -19.3 -8.9 +30.0 2, 939, 627 154, 677 2, 679, 488 177, 865 -8.8 +15.0 733, 678 45, 946 755, 473 49,885 630, 583 46, 141 676, 694 42, 823 616, 738 39, 016 278,219 35, 585 397, 999 48, 446 340, 847 45, 984 420, 930 40, 335 325, 888 1, 280, 625 1, 474, 624 41, 210 41, 468 46,343 207, 682 15, 369 8,704 .81 341, 444 15, 913 11, 012 .83 613, 939 19, 657 16, 226 .83 645, 852 22, 574 20, 584 .83 819, 216 12,949 41, 254 .83 750,480 33, 089 62, 139 .57 70, 653 9,334 80, 233 6,096 68, 972 15,306 i 75, 755 i 5, 300 69, 895 4,790 78, 264 4,522 502,482 37, 569 492, 811 33, 272 453, 040 i 462, 620 i 30, 939 i 33, 526 504, 575 31, 113 531, 764 32, 645 488, 037 35, 290 311, 583 37, 070 575, 978 39, 925 284, 754 49, 492 436, 656 58, 596 426, 736 64, 713 597, 379 67, 938 15, 622 18, 108 6,868 13,235 8,907 3,563 10, 324 9,152 9,842 36, 143 34, 317 33,159 17, 145 33,846 33, 726 33, 616 17,303 35,383 33, 578 31, 102 19, 145 32, 190 31, 890 31, 517 19, 518 31, 962 33, 132 31,415 18,043 5,138 10, 132 30, 989 -22.6 +2.8 -77.9 +0.6 850, 999 +26.8 22, 451 -42.6 26, 794 +100. 4 .55 0.0 -3.7 -42.3 +54.0 +50.9 297, 457 89, 076 -70.1 79, 751 3,650 -7.7 -9.6 -12.4 +31.2 306, 822 19, 718 294, 855 21, 492 -3.9 +9.0 519, 662 55, 893 503, 013 52, 023 +9.1 -7.2 +0.3 -40.2 425, 510 39, 910 607, 586 29, 140 577, 885 26, 995 2, 360, 177 125, 750 1, 801, 108 152, 195 -23.7 +21.0 606, 975 73, 706 655, 382 72, 629 723, 426 75, 276 13, 153 9,501 i 7, 682 12, 756 10, 298 8,804 36, 238 36, 469 34, 266 17,349 34, 186 34, 284 33, 528 17,331 133, 381 132, 326 127, 650 -0.5 -0.7 +0.6 -26.1 -26.4 0.0 +47.8 +1.6 +8.5 -16.1 -2.1 -0.7 +3.9 -0.3 -7.6 -6.5 -3.4 -6.3 +4.1 134, 098 133, 198 126, 846 11,291 +206. 9 +174. 5 25,983 Ethyl Alcohol Production thous. of gals Withdrawn for denaturation thous. of gals.. Warehouse stocks, end of month thous. of gals Explosives (Black powder, permissibles, and other high explosives) Production - . thous. oflbs Shipments thous of Ibs New orders thous. oflbs.. Stocks, end of month thous of Ibs x Naval Stores Turpentine (gum): Net receipts, southern ports barrels. . Stocks, end of month— At three ports _ barrels.. At five ports barrels.. At stills barrels.. 1 Revised. 2 Quarter ending Dec.31,1926. 29, 143 58, 321 63, 835 13. 228 7,386 48,993 63, 098 8.794 34 Quarter Quarter 40, 047 24, 668 31, 802 21,871 33, 241 42,806 5.035 3.188 7.432 ending Mar. 31, 1927. ending Mar. 31, 1926. 3,499 24, 619 +28.9 +29.2 26,866 27, 414 +52.0 +21.3 30, 470 4.821 +133. 1 +54.2 6.064 «Cumulative through Mar. 31. * See table on p. 26 of the April, 1927, issue. 53, 645 +106. 5 38 TREND OF BUSINESS MOVEMENTS—Continued .1927 1926 The cumulatives shown are through April, except where otherwise noted. Earlier data for items shown here may be found on pages 26 to 134 of the February, 1927, "Survey" December January February PER CENT INCREASE (+) OR DECREASE (— ) 1926 April March March April Apr., 1927, from Mar., 1927 Apr., 1927, from Apr., 1926 -9.5 -30.9 CUMULATIVE TOTAL FROM JANUARY 1 THROUGH APRIL 30 Per ct. increase (+) or decrease (-) cumulative 1927 from 1926 1926 1927 128, 387 199, 700 +55.5 CHEMICALS AND OILS— Continued Naval Stores— Continued Turpentine— Continued. Price, southern, in barrels, New York dolls, per gal.. Rosin (gum): Net receipts, southern ports barrels. _ Stocks, end of month— At three ports . _ .barrels At five ports barrels At stills .barrels . Price, common to good (B), New York dolls, per bbl._ Rosin (wood) : Production barrels Stocks, end of month - _ _ barrels . Turpentine (wood): Production . - barrels ._ Stocks, end of month barrels Pine oil: Production barrels Stocks, end of month . barrels . .83 39, 136 208, 789 229, 189 92, 860 160, 120 179, 943 84, 261 .75 27,214 , 147,635 166, 323 74, 774 .74 .67 1.00 36, 322 97,028 20, 196 81, 013 77, 848 58, 431 107, 562 123, 412 58, 910 117, 182 137, 263 58, 846 .97 40, 643 +167. 1 +138. 7 94, 035 107, 961 40, 813 +32.8 +58.5 +0.8 +14.4 +14.3 +44.3 -13.6 +8.9 12.24 12.38 11.71 11.23 9.70 11.10 8.91 32, 864 27, 736 35, 168 33, 513 32, 043 45, 124 35, 313 i 53, 866 34, 598 58, 652 24, 145 21, 699 22, 920 27, 963 -2.0 +51.0 +8.9 +109. 7 86, 480 137, 122 +58. 6 6,499 4,911 7,053 5,531 6,587 7,314 7,253 i 6, 953 7,035 7,473 4,934 2,706 4,595 2,785 -3.0 +53.1 +7.5 +168. 3 17, 821 27, 928 +56.7 220, 827 254, 259 241, 563 305, 151 245, 232 207, 197 313, 457 i 345, 842 239, 027 355, 790 173, 465 598, 459 158, 149 565, 416 -2.5 +2.9 +51.1 -37.1 591, 996 933, 019 +57.6 17, 857 3,545 19, 266 3,628 19, 669 4,045 25, 209 3,417 27, 638 3,089 25, 061 5,943 21, 545 5,186 +9.6 -9.6 +28.3 -40.4 82, 630 91, 782 +11.1 2,115 1,405 1,691 2,891 3,183 2,752 2,700 +10.1 +17.9 9,204 9,170 -0.4 thous. of Ibs thous. of Ibs short tons 6,862 47, 533 20, 015 6,967 51, 953 19, 681 8,435 38, 212 12, 520 6,950 48, 137 14, 747 6, 050 72, 305 19, 107 4,631 45, 890 19, 564 4,659 58, 934 19, 038 -12.9 +50.2 +29.6 +29.9 +22.8 +0.4 23, 833 220, 228 65, 702 28, 402 210, 607 66, 055 +19.2 -4.4 +0.5 thous. of Ibs 25, 400 31, 588 16, 153 16, 130 35, 149 11, 703 20, 484 +117. 9 +71.6 75, 208 99, 020 +31.7 thous. of Ibs 10, 611 9, 837 9,679 11, 169 8,925 7,996 8 26, 384 5 30, 685 +16.3 thous. of Ibs thous of Ibs 24, 798 24, 530 22, 748 21, 859 22, 345 20, 356 25, 484 27, 234 23,267 22, 413 21, 268 19, 793 20, 445 s 65, 719 84, 695 5 70, 577 92, 716 +7.4 +9.5 486, 190 691, 327 818, 528 356, 927 611, 627 562, 882 94, 597 346, 902 310, 577 183, 225 516, 596 410, 875 63, 319 314, 967 152, 525 -73.5 +49.4 -43.3 +10.1 -44.8 +103. 6 1, 027, 330 2, 284, 383 1, 545, 904 2, 520, 312 +50.5 +10.3 204, 058 155, 680 186, 354 140, 309 105, 148 122, 279 152, 475 88, 272 97, 313 57, 000 -43.6 +8.1 -12.9 +114. 5 667, 837 751, 590 +12.5 201, 767 460, 722 170, 684 502, 593 111,115 531, 394 156, 463 301, 333 92, 415 294, 544 -34.9 +5.7 +20.2 +80.4 589, 568 689, 315 +16.9 .09 -10.0 -25.0 5 7, 459 « 6, 506 -12.8 -40.1 +1.4 -63.8 +7.9 -40.7 -24.3 1, 075, 220 1, 136, 826 +5.7 121, 731 175, 370 +44.1 -34.8 -29.1 -17.1 + 7.1 -8.1 +59.4 -1.3 +59.1 1,899 1, 342 2,250 +18.5 +25.6 Roofing Roofing felt: Production, dry felt tons Stocks end of month dry felt tons Prepared roofing: Shipments thous. of roof squares Fats and Oils Total vegetable oils and copra: Exports Imports Copra, imports Copra or cocanut oil: Imports Consumption in oleomargarine Oleomargarine: Production Consumption .86 122, 847 Cottonseed Cottonseed: 834, 925 608, 190 Receipts at mills short tons Consumption (crush) _ short tons 932, 726 871, 456 Stocks at mills, end of month short tons 1, 291, 912 1, 029, 646 Cottonseed oil, crude: 256, 030 275, 127 Production thous. of Ibs 172, 358 155, 455 Stocks, end of month thous. of Ibs Cottonseed oil, refined: 205, 749 Production thous. of Ibs. _ 229, 142 Stocks end of month thous of Ibs 332, 344 397, 432 Price, yellow, prime, .09 New York dolls per Ib .08 Consumption in oleomar2,013 garine thous of Ibs 2,008 Cottonseed cake and meal: 386, 182 Production short tons 416, 246 147, 250 Stocks end of month short tons 166, 535 81, 099 93, 198 Exports short tons Flaxseed Minneapolis and Duluth: Receipts thous. of bushs Shipments.- . . -thous. of bushs Stocks end of month thous of bushs Imports thous. of bushs Linseed oil: Shipments from Minneapolis.thous. of lbs_. Price New York dolls per Ib Linseed cake and meal: Shipments from Minneapolis.thous. of lbs__ Exports thous. of lbs._ .09 .10 2,006 2,487 313, 524 153, 639 61, 775 273, 352 179, 376 23, 860 1,402 1,405 2,694 1,190 787 540 2,372 2,237 515 418 2,073 1,327 574 398 2, 023 2,091 8,756 .107 9,660 .105 8,301 .104 10, 626 .79 22, 581 48, 868 20, 682 61, 103 18, 488 54, 322 12, 732 64, 866 -14.6 .11 .12 2,347 1,898 163, 768 181, 938 8,636 247, 098 344, 618 16, 362 151, 709 306, 754 11, 415 374 330 1,860 2,063 533 292 1,370 2,813 474 308 1,167 1,297 .106 11, 141 .107 11, 061 .108 +34. 2 64, 896 10, 464 46, 749 8, 902 49, 518 0.0 30, 780 91, 348 14, Oil 10, 290 -21.3 -24.0 -13.2 +45.0 +13.8 +7.3 7, 191 7,718 6 34, 087 5 28, 587 -16.1 r" 557,375 +31.1 I 229, 334 6 51, 902 245, 187 -9.5 +6.9 -1.9 FOODSTUFFS Wheat Visible supply, end of month: 68, 125 United States thous of bushs 117, 796 Canada thous. of bushs 22, 405 Receipts, principal markets ._ .thous. of bushs.. Shipments, principal markets.thous. of bushs__ 17, 376 Exports: United StatesWheat only thous. of bushs 9,536 14, 793 Including wheat flour.thous. of bushs.. Canada44, 879 Wheat only. _ _ . thous. of bushs Including wheat fiour.thous. of bushs.. 48, 862 Prices: 1.44 No. 1, northern, Chicago. .dolls, per bush.. 1.40 No. 2. red winter, Chicaso.dolls. Der bush__ 1 Revised. 1,686 i 1 59, 731 116, 613 24, 595 13, 757 58, 454 115, 350 20, 952 10, 413 51, 404 109, 392 16, 605 12, 164 40, 455 83, 121 14, 420 17, 636 35, 433 101, 279 15, 101 11, 465 8,078 12, 619 4,889 8,822 5,084 8,987 11, 263 15, 836 3,773 6,900 12, 571 16, 054 11, 422 14, 788 16, 395 21, 026 20, 182 14, 734 20, 593 1. 45 1.37 1.40 1.37 1.37 1.34 +31.4 -9.0 +2.9 +71.4 66, 940 43, 987 76, 572 53, 970 2,533 +121. 5 +344. 7 6,285 +76.2 +152. 0 10, 417 23, 250 29, 314 +181. 4 46, 264 +99.0 5,526 8,594 +23.1 +265. 2 1.34 1.67 1.63 -2.2 1.34 1.68 1.69 0.0 5 Cumulative through Mar. 31. -19.8 -20.7 L 47, 533 6 54, 879 -_ 60, 570 5 52, 468 +14.4 +22.7 +27.4 -4.4 39 TREND OF BUSINESS MOVEMENTS—Continued j 1926 The cumulatives shown are through April, except where otherwise noted. Earlier data for items shown here may be found on pages 26 to 134 of the February, 1927, "Survey" December 1927 January February PER CENT INCREASE (+) OR DECREASE (— ) 1926 March April March April Apr., 1927, from Mar., 1927 Apr., 1927, from Apr., 1926 CUMULATIVE TOTAL FROM JANUARY 1 THROUGH APRIL 30 1926 1927 Per ct. increase (+) or decrease (-) cumulative 1927 from 1926 FOODSTUFFS— Continued Wheat Flour Grindings of wheat: United States (census) thous of bushs 40, 624 Canada thous. of bushs 7,777 Production: United States, actual (census) thous of bushs 8,909 United States, prorated (Russell) __ thous. of bbls 10, 537 Canada thous. of bbls 1,715 Production, grain offal thous. of Ibs i 695, 130 Capacity operated, flour mills per cent 53 Consumption, wholesale (computed) thous. of bbls.. 10, 629 Stocks, all positions, end of month (computed) thous of bbls 6,700 Stocks (end of mo.) held by mills (quarterly) thous of bbls 2 4, 336 Exports: United States _ thous. of bbls_. 1,208 Canada.. , -thous. of bbls__ 885 Wholesale prices: Standard patents, Minneapolis dolls per bbl 7.63 Winter straights, Kansas City dolls per bbl 6.60 40, 557 6,643 38, 027 7,249 35,234 6,367 8 112, 958 8 20, 062 « 116, 480 8 19, 077 8,023 8,875 8,289 7,589 8 24, 397 8,996 1,231 624, 025 53 10, 396 1,455 695, 414 50 9,901 1,609 685, 314 47 8,817 1,416 633, 082 45 7,867 8,572 10, 074 9,707 7,584 7,500 7,080 6,500 6,100 6,500 39, 354 6,819 36, 569 5,615 8,624 9,676 1,496 676, 292 53 4 3 4, 127 3 888 -4.8 +6.1 1,009 774 874 748 867 1,029 1,016 695 1,302 834 682 +17.2 +21.8 7.46 7.42 7.33 7.25 8.81 8.76 -1.1 -17.2 6.55 6.54 6.58 6.58 7.88 7.51 0.0 -12.4 2,030 36, 412 22,339 8,652 5,100 2,017 40, 616 27, 638 10, 638 6,095 2,023 47, 792 24, 667 8,500 5,855 2,180 50, 079 19, 310 10, 111 6,491 1,548 39, 130 10, 451 12, 326 6,316 2,270 39, 057 19, 994 9,566 7,431 2,210 34, 937 13, 166 9,927 5,611 -29.0 -21.9 -45.9 +21.9 -2.7 -30.0 +12. 0 -20.6 +24.2 +12.6 .76 .77 .76 .73 .74 .74 .73 +1.4 +1.4 10, 188 46, 341 808 14, 377 46, 890 614 10, 053 44, 625 321 10, 272 38, 155 395 9,127 30, 298 1,095 11, 622 54, 237 810 13, 762 -11.1 48, 704 -20.6 3,043 +177. 2 -33.7 -37.8 -64.0 .50 927 .50 791 .48 693 .49 734 .48 .41 904 .42 764 11, 329 8,890 7,711 8,603 11, 205 9,523 3,027 4,492 1,363 2,663 4,180 1,006 2,347 3,790 1,257 2,254 3,002 2,121 2,210 1,619 1,151 2,958 5,220 436 2,528 4,436 734 -2.0 -46.1 -45.7 -12.6 -63.5 +56.7 .74 .74 .78 .78 .83 .66 .69 +6.4 +20.3 1,453 12, 343 613 .97 1, 281 12, 591 804 1.02 2, 156 13, 655 591 1.05 1,485 14, 048 786 1.00 1,449 6,249 4,500 1.03 1,032 13, 079 369 .84 19, 787 17, 060 13, 014 14, 469 24, 130 10, 785 13, 696 210, 515 +3.1 -4.9 8 25, 522 +4.6 5 29, 068 5 26, 069 5 4, 182 8 4, 471 52,039,152 «1,995,731 +11.5 -6.5 -2.1 8 27, 855 8 26, 513 -4.8 2,852 « 2, 861 3,766 8 2, 551 +32.0 -10.8 Corn Exports, including meal thous. of bushs Visible supply, end month thous. of bushs.. Receipts, principal markets... thous. of bushs.. Shipments, prin. markets thous. of bushs.. Grindings (starch, glucose) thous. of bushs.. Prices, contract grades, No. 2, Chicago dolls per bush 12, 221 7,768 -37.3 89, 607 39, 667 26, 942 82, 066 41, 575 24, 757 -8.4 +4.8 -8.1 51, 460 43, 829 -14.8 6,173 2,425 -60.7 Oats Receipts, principal markets _ _ thous. of bushs Visible supply, end month thous. of bushs ._ Exports, including meal thous. of bushs.. Prices, contract grades, Chicago dolls per bush Grindings, Canada thous. of bushs Production, oatmeal and rolled oats, Canada ... thous of Ibs Other Grains Barley: Receipts, principal markets thous of bush Visible supply, end mo thous. of bush.. Exports thous of bush Price fair to good, malting, Chicago dolls per bush Rye: Receipts, principal markets thous. of bush Exports, including flour thous. of bush_. Price No 2 Chicago dolls per bush -2.0 +14.3 5 2, 794 8 2, 218 -20.6 8 37, 097 825,204 —32.1 11, 108 9,474 -14.7 2,264 5,535 +144. 5 1,301 -2.4 +11.4 13, 271 -55.5 -52.9 1,424 +472. 5 +216. 0 +3.0 +15.7 .89 4,935 6,371 2,176 6,681 +208. 3 +76.4 46, 084 +29.1 Total Grains Total grain exports, incl. flour.. thous. of bush.. 68, 673 +49.0 194, 321 5 1,707, 664 s 2,087, 461 +22.2 498, 419 471, 143 122, 908 176, 229 130, 146 1, 824, 807 1, 556, 393 65, 490 35, 926 455, 159 190, 036 156, 964 99, 637 s 2,018, 597 5 2,732, 455 755, 799 595, 900 +5.9 +35.4 +26.8 +66.8 Rice Southern paddy, receipts at mills bbls_. 1, 025, 131 817, 939 648, 369 621, 153 Shipments: 895, 206 1, 120, 252 877, 798 734, 404 Total from mills pockets (100 Ibs ) 177, 220 199, 258 249, 175 209, 306 New Orleans . pockets (100 Ibs.) Stocks end of month pockets (100 Ibs ) 2, 362, 088 2, 095, 911 1, 957, 608 1, 867, 788 395, 119 368, 895 508, 885 442, 528 Exports pockets (100 Ibs ) 70, 562 60, 538 56, 818 37, 076 Imports pockets (100 Ibs ) Other Crops Apples: Cold-storage holdings, end of month thous of bbls Car-lot shipment carloads Potatoes, car-lot shipments carloads Onions, car -lot shipments carloads Citrus fruits, car-lot shipments carloads ._ Hay, receipts tons._ 9,356 8,090 13, 252 2,491 12, 581 68, 273 7,335 7,827 17, 408 2,797 11, 725 78,088 5,114 7,883 17, 314 2,018 10, 855 56, 938 i 3, 141 5,276 21, 005 1,738 12, 946 63, 971 1,596 3,630 19, 497 2,968 12, 911 52, 716 3,314 6,084 19, 577 1,806 11, 559 73, 286 1,691 3,990 13, 718 1,924 10, 894 66, 037 1,811 572 184 1, 221 1,711 603 202 1,113 -34.7 +2.9 +64.6 -36.5 205, 403 650, 040 -49.2 -31.2 -7.2 +70.8 -0.3 -17.6 -5.6 -9.0 +42.1 +54.3 +18.5 -20.2 22, 774 63, 665 8,502 40, 555 310, 460 1, 775, 467 +764. 4 287, 555 -55.8 24, 616 75, 224 9,521 48, 437 251, 713 +8.1 +18.2 +12.0 +19.4 -18.9 6,804 2,403 784 4,348 -1.6 +0.9 -0.5 -3.2 Cattle and Calves Cattle movement, primary markets: 1,846 Receipts thousands 739 Shipments, total thousands. 301 Shipments, stocker and feeder --thousands-Local slaughter _ thousands- _ 1,136 1 Revised. 3 Quarter ending Dec. 31, 1926. 1,832 657 205 1,136 1,743 1,555 537 607 175 200 1,012 1,134 34 Quarter ending Mar. Quarter ending Mar. 1,674 602 204 1,066 1 31, 1927. 31,1926. -2.2 -4.0 -0.2 -0.8 +2.0 +1.0 -4.2 -6.0 • Cumulative through 6,913 2,382 788 4,491 Mar. 31. 40 TREND OF BUSINESS MOVEMENTS—Continued Perct. 1927 1926 The cumulatives shown are through April, except where otherwise noted. Earlier data for items shown here may be found on pages 26 to 134 of the February, 1927, "Survey" December PER CENT INCREASE (+) OR DECREASE (— ) 1926 January February March 443, 931 401, 482 436, 570 CUMULATIVE TOTAL FROM JANUARY 1 THROUGH APRIL 30 April March April %&: from Mar., 1927 Apr., 1927, from Apr., 1926 1926 421,666 -6.3 -5.3 -6.6 1, 753, 938 1, 776, 901 1927 in- crease ( ort> decrease (-) cumulative 1927 from 1926 FOODSTUFFS-Continued Cattle and Calves— Continued Beef products: Inspected slaughter product-thous. of lbs._ Apparent consumption thous. of lbs__ Exports thous of Ibs Cold-storage holdings, end of month thous. of lbs_. Prices, Chicago: Cattle, corn-fed dolls, per 100 Ibs. _ Beef, fresh native steers dolls, per Ib.. Beef, steer rounds, No. 2 dolls, per lb_. 494, 665 479,484 1,697 448,628 1,975 407,852 i 446, 970 2,025 1,748 436, 154 2,037 450, 058 456, 197 1,913 450, 142 460, 438 2,180 -3.4 -2.4 +0.5 1, 703, 649 7,930 1,739,604 7,785 -2.9 -2.1 -1.8 14, 456 5,311 379 9,136 +.5 -5.5 +62.7 +4.2 2,690,408 1,997,999 2,023,716 445,891 327, 634 +2.3 +1.3 -26.5 100, 873 95, 254 88, 020 i 77, 159 62, 957 70, 781 59, 978 -18.4 +5.0 9.72 .170 .141 10.30 .170 .145 11.06 .170 .150 11.92 .170 .158 12.28 .170 .176 9.69 .160 .150 9.13 .160 .152 +3.0 0.0 +11.4 +34.5 +6.2 +15.8 3,910 1,476 105 2,441 4,252 3,308 3,754 1,315 94 1,368 102 3,142 1,101 84 3,579 1,527 99 2,386 2,050 1,428 56 2,144 3,135 1,264 54 1,871 -16.3 -19.5 -17.6 -14.1 +.2 -12.9 +55.6 +9.6 14, 390 5,618 233 8,771 722, 806 544, 773 91, 347 783, 756 564, 328 85, 134 608, 455 695, 176 446, 125 i 539, 757 74, 150 76, 508 603,019 649, 871 511, 952 104, 679 572, 037 489, 416 100, 619 -13.3 -12. 3 +20.0 +6.4 -3.3 -8.7 2, 629, 745 473, 506 91, 842 Hogs and Pork Hog movements, primary markets: Receipts thousands Shipments, total thousands Shipments, stocker and feeder.. thousands __ Local slaughter thousands Pork products, total: Inspected slaughter product. .thous. of lbs._ Apparent consumption thous. of Ibs. . Exports thous. of Ibs Cold-storage holdings, total, end of month thous. of lbs_. Fresh and cured in storage, end of month thous. of lbs_. Lard (included in pork products) : Production thous. of Ibs.. Exports thous. of Ibs Cold-storage holdings, end of month thous. of Ibs.. Prices: Hogs, heavy, Chicago dolls, per lOOlbs.. Hams, smoked, Chicago dolls, perlb.. Lard, prime contract, N. Y.._dolls. per lb._ 2,694 2,006 522, 749 658, 647 748,777 1830,515 869, 570 719, 702 702, 163 +4,7 +23.8 472, 757 589, 071 671, 674 i 738, 446 769, 361 626, 594 603, 798 +4.2 +27.4 129, 614 62, 690 148, 790 59, 842 120,492 49,884 129, 334 53, 040 126, 104 67, 345 138, 567 64, 259 126, 385 63, 160 -2.5 +27.0 -.2 +6.6 49,992 69, 576 77, 103 i 92, 069 100,209 93, 108 98, 365 +8.8 +1.9 11.77 .280 .128 11.97 .269 .129 11. 64 .273 .128 11.01 .270 .130 10.51 .268 .128 11.49 .295 .150 11.74 .301 .145 -4.5 -.7 -1.5 -10.5 -11.0 -11.7 1,740 819 207 921 1,496 669 136 829 1,558 719 140 843 1,486 690 118 800 1,695 695 83 1,001 1,502 698 124 801 -4.7 -4.0 -15.7 -5.1 44, 161 44,292 40,510 40,943 41, 544 i 42, 737 37, 545 38, 644 47, 611 47, 676 40, 318 41, 247 4,447 4,074 i 2, 940 1,859 3,289 6.41 12.47 7.78 13.24 8.00 15.06 7.78 15.81 7.70 12.73 61, 791 59, 230 60, 951 58, 411 52,399 554, 171 269, 445 524, 720 230, 111 -5.3 -14.6 -1.1 -1.1 -4.8 -.1 6,231 6,280 2,897 601 3,393 +.8 +7.2 +28.1 -3.6 -9.4 -9.6 -6.9 -6.3 171, 556 171, 465 163, 760 166, 616 -4.5 -2.8 2,393 -36.8 -22.3 8.53 13.53 -2.7 -5.0 -8.8 +16.9 48, 174 -4.2 +21.2 Production, inspected slaughter. .thous. of Ibs.. 1, 262, 825 1, 271, 850 1, 050, 446 1, 173, 290 1, 062, 230 1, 147, 540 1, 062, 497 Cold-storage holdings, end mo. .. thous. of Ibs.. 642, 032 750, 563 822, 998 i 879, 496 892, 588 714, 343 753, 063 Apparent consumption thous. of Ibs. _ 1, 068, 945 1, 057, 247 894, 920 U,029,463 948, 304 1, 015, 825 991, 101 -9.4 +1.5 -7.9 0 +25.0 -4.3 4, 555, 242 4, 557, 816 +.1 3, 946, 363 3, 929, 934 -.4 77, 576 76,386 -1.5 70, 690 86,655 +22.6 « 976, 753 « 1,340, 318 352, 656 331, 296 +37.2 +6.4 Sheep and Lambs Sheep movement, primary markets: Receipts . thousands 1,706 Shipments, total .thousands ! 780 Shipments, stocker and feeder. .thousands.. 223 Local slaughter thousands 934 Lamb and mutton: Inspected slaughter product.. thous. of Ibs.. 45, 354 Apparent consumption thous. of Ibs.. 44, 688 Cold-storage holdings, end of month thous. of Ibs.. 4,556 Prices: Sheep, ewes, Chicago dolls, per 100 Ibs.. 5.64 Sheep, lambs, Chicago.. .dolls, per 100 lbs_. 12.04 2,702 469 3,521 Miscellaneous Meats Cold-storage holdings, end mo... thous. of Ibs.. 63, 846 1 Total Meats Poultry Receipts atfivemarkets Cold-storage holdings, end of month thous . of Ibs . . 76,919 27,704 thous. of lbs_. 144, 497 144, 076 15, 777 13, 956 17, 638 13,992 -11.5 -.3 129, 510 i 104, 697 77, 308 73, 124 52, 783 -26.2 +46.5 28, 610 i 34, 887 20, 556 24, 715 23, 751 24, 894 18, 539 16,154 -28.2 -29.2 +10.9 +53.0 368, 071 126, 594 53, 450 368, 154 1 94, 091 152, 126 40, 311 -57.0 +32.6 109, 259 45, 210 120, 770 48, 279 108, 410 46, 077 115, 060 45, 501 +10.5 +6.8 +5.0 +6.1 408, 745 170, 509 417, 517 169, 569 +2.1 -0.6 3,432 17, 392 142, 617 .43 17, 527 147, 225 .39 +12.7 +7.5 -2.0 -80.4 +12.6 +28.2 572, 077 602, 001 +5.2 127, 965 +0.5 -22.0 107, 927 59,009 59,417 +13.8 +9.0 162,454 —11.1 -9.4 153, 958 45, 625 -3.8 -4.6 4,872 -11.5 +42.1 17, 432 25, 143 6,923 1,455 1,399 327 348 —5.5 -6.0 9,099 1,303 -65.0 -14.3 10, 921 1,117 2,548 * See table on p. 23 of the April, 1927, issue for earlier data. -15.7 +0.7 -5.2 18,949 Fish Total catch, prin. fishing ports. ..thous. of Ibs.. 13, 439 19, 349 18, 140 Cold-storage holdings, 15th of mo .thous. of lbs_. 69,584 48,684 58, 655 Canned salmon: 584, 097 Shipments, United States cases 490, 107 482, 140 Exports, Canada cases.. 121, 965 106, 145 66, 467 Butter Production (factory) ...thous. of Ibs.. 88, 137 93, 142 94, 346 Receipts, 5 markets thous. of Ibs.. 36, 054 37, 705 38, 375 Cold-storage holdings, creamery, end of month .thous. of lbs_. 34, 347 7,952 17, 952 Apparent consumption thous. of Ibs 156, 777 145,906 135, 997 .55 Wholesale price, New York* dolls, per lb_. .52 .50 Cheese Total, all varieties: Production (factory) ..thous. of lbs_. 27, 122 23, 323 25, 962 Receipts, 5 markets thous. of Ibs. . 15, 984 12,706 14,916 Apparent consumption thous. of Ibs.. 40, 695 36, 145 36, 616 Cold-storage holdings thous. of Ibs.. 71, 920 54,072 62, 136 Imports thous. of Ibs.. 10, 033 5,608 4,788 Exports, United States thous. of Ibs.. 356 370 356 Exports, Canada thous. of Ibs.. 13,635 3,209 3,404 « Cumulative through Mar. 31. i Revised. 13,044 154, 276 .51 165, 822 .50 29, 241 14, 872 29, 401 16, 923 42,985 i 47, 840 7,824 346 3,191 38,212 34, 729 15, 056 43, 778 51, 285 4,641 432 37, 681 15, 531 42, 198 47, 450 +44.2 -3.8 +20.0 41 TREND OF BUSINESS MOVEMENTS—Continued 1926 The cumulative* shown are through April, except where otherwise noted. Earlier data for items shown here may be found on pages 26 to 134 of the February, 1927, "Survey" 1927 PER CENT INCREASE (+) OR DECREASE (— ) 1996 Apr., 1927, from Mar., 1927 Apr., 1927, from Apr., 1926 -7.7 -4.0 -8.7 +14.3 2,087 +36.7 3,735 +191. 6 +30.8 +45.9 December January 54,596 .26 46, 026 .26 39, 382 .26 35, 193 .25 32, 491 .24 38,041 .23 751 1,096 970 253 1,176 92 1,997 1 1, 868 2,729 5,448 1,741 872 33, 593 31, 207 26,053 33, 272 52, 030 21, 849 25, 739 +56.4 +102. 1 16, 594 8,303 12,418 7,782 10,935 i 7, 812 14,608 9,443 17,008 9,028 19, 082 10,829 +33.6 +20.8 -23.4 -12.8 11, 296 3,388 2,694 5.63 7,054 3,619 2,853 5.72 5,378 i 3, 881 2,974 5.75 8,317 3,596 2,761 5.84 11, 723 7,070 3,642 5.95 14,424 4,768 3,685 5.92 +54.6 -7.3 -7.2 +1.6 -42.3 -24.6 -25.1 -1.4 54,888 49, 940 47, 476 58,433 89, 225 98,414 +23.1 -40.6 63, 730 7,858 4.38 76, 465 9,261 4.36 -8.7 +13.2 +1.8 136, 617 160, 154 February March March April April CUMULATIVE TOTAL FROM JANUARY 1 THROUGH APRIL 30 1927 1926 Per ct. increase ( } or tde- crease (-) cumulative 1927 from 1926 FOODSTUFFS— Continued Cheese— Continued American whole milk: Cold-storage holdings, end of month thous. of lbs_. Wholesale price, New York*— dolls, per lb— Eggs Receipts, 5 markets thous. of cases.. Cold-storage holdings thous of cases Frozen, cold-storagef holdings, end of month thous. of lbs_. 35, 597 .21 5,804 6,872 +18.4 14, 837 11, 282 -24.0 -88.8 -23.8 +5.0 27, 782 23, 171 -16.6 +3.8 +10.8 528, 572 574, 221 +8.6 -1*0 +96.5 -10.3 +17.9 963 1,029 +6.9 '48,014 « 299, 226 » 50, 664 « 318, 375 +5.5 +6.4 Milk Condensed milk: Manufacturers' total stocks (end of month) — 19, 759 Case goods thous. of lbs._ 10,003 Bulk goods thous. of lbs._ Manufacturers' unsold stocks (end of month)— Case goods thous. of lbs_. 14, 399 4,072 Bulk goods thous. of Ibs.. 3,454 Exports _ thous. of lbs_. 5.68 . Wholesale price, New York. dolls, per case.. Evaporated milk: Manufacturers' total stocks (end of 71, 355 month) case goods thous of Ibs Manufacturers' unsold stocks, 45, 235 case goods thous of Ibs 6,499 Exports _. thous. of Ibs— 4.48 Wholesale price, New York. dolls, per case— Production, condensed and ?$• evaporated milk thon?-0flbf? 102, 908 Powdered milk: 9,610 Manufacturers' total stocks.. thous. of Ibs.. 259 Exports thous. of Ibs.. Fluid milk: Receipts— 16,349 Boston (includ. cream). -thous. of qts_. Greater New York thous. of qts_. 105,235 Production— 22, 562 Minneapolis, St. Paul____thous. of Ibs— Consumption in manufacture 7,262 of oleomargarine thous. of Ibs.. Sugar Raw: Imports— From Hawaii and Porto 20,475 Rico _ . long tons From foreign countries long tons.. 221,927 271,948 Meltings, 8 ports long tons Stocks at refineries, end mo long tons- 246,391 Receipts, domestic, at New Orleans _ _ ._ long tons.. 11, 148 Refined: 5,604 Exports, including maple _ _ long tonsPrices: Wholesale, 96° centrifugal, .051 N. Y dolls, perlb.061 Wholesale, granulated, N. Y. dolls, per lb— .065 Retail, granulated, N. Y dolls, per lb— 133 19,084 5,554 4.50 10,150 4,331 4.50 9,346 6,232 4.50 8,531 7,054 4.58 107, 581 118, 309 170, 881 177, 450 5,278 285 7,286 285 17, 128 105, 541 16, 800 105, 161 29, 153 27,685 6,522 5,690 158,556 417,332 482,656 379,210 150, 677 453, 128 497, 912 290, 061 183,482 460,240 464, 740 461,857 +.6 +4.2 -12.7 +17.9 -13.6 -9.3 +3:9 -17.9 46 30 258 136 -34.8 -77.9 6,541 18,295 15,822 16, 141 11, 195 -13.5 +41.3 .049 .060 .068 136 .048 .058 .067 135 .048 .058 .063 133 .040 .049 .059 122 .041 .052 .058 120 9,638 268 6,710 254 i 6, 601 171 17,002 106, 156 15, 522 99, 019 18, 140 113, 200 25,468 24,623 27, 794 6,287 6,262 7,042 70, 187 163,973 290, 613 177,791 142,800 366,551 362,841 300,858 157, 549 400, 544 553, 004 321,629 1,404 123 5,760 .051 .062 .068 136 6,535 336 26,458 -4.8 -6.0 -1.5 -4.4 110, 152 104, 343 -5.3 « 19, 110 « 19, 591 +2.5 536, 741 1,581,284 1,774,350 529, 092 1,348,400 1, 689, 114 -1.4 -14.7 -4.8 30, 760 1,603 -94.8 43,534 46, 418 +6.6 +17.1 +11.5 +8.6 +10.8 Cuban movement: 920,480 757,373 -45.1 -21.4 3,058,489 2, 967, 212 Receipts at Cuban ports long tons.. 62,829 482, 152 805, 868 1, 084, 038 595, 154 -5.1 1,744,832 1. 517, 587 454, 631 166, 044 512,824 465,263 -13.9 206,816 441,653 397, 066 Exports long tons —.2 1, 107, 066 1, 452, 146 +10.6 1,310,347 1,449,624 69,741 298, 682 Stock*? end of month long ton^ 702,733 Coffee 541, 345 479, 283 129, 064 +18.7 -1.6 146,048 Imports __.thous. of Ibs.. 136, 955 119.672 125, 624 106, 988 126,999 Visible supply: -4.5 4,464 4,747 4,605 4,318 4,261 4,701 4,385 -1.3 World... thous. of bags.. 694 1,014 743 +5.4 +16.1 766 806 978 903 United States thous. of bags4,039 3,913 899 1,056 761 -10.7 +18.1 1,127 1,007 1,389 1,006 Receipts, total, Brazil . thous. of bags Clearances: 4.549 1,235 -23.2 -24.8 4,280 929 1,071 1,214 1,209 1,159 928 Total, Brazil, for world thous. of bags.. 2,184 2,296 649 353 -24.0 +44.8 672 511 666 716 447 Total, Brazil, for U. S thous. of bags.. Tea 25,293 25, 081 4,891 5,369 5,251 5,776 -2.0 +7.4 9,559 8,876 5,585 Imports .. —thous. of IbS— Stocks, United Kingdom, 194, 162 i 178, 565 +.4 -7.7 179,315 194,362 end of month _ thous. of Ibs— 207,003 222,636 217,413 TOBACCO Consumption (tax-paid withdrawals) : -5.5 1,958,255 1,912,452 509, 133 -10.0 564,245 528, 698 475,980 464, 575 466, 078 441, 696 Large cigars thousands -1.8 +13.0 27,789,994 29,785,021 Small cigarettes _ _ thousands. .6,391,844 7,269,356 6,609,166 8,026,096 7,880,403 7, 633, 201 6,972,836 Manufactured tobacco 131,787 -6.9 139, 784 37, 428 33, 891 -10.7 35,347 31,561 33,005 31, 874 andsnuff .. . -thous. of Ibs. _ 28, 218 Exports: 189, 887 173, 593 35,041 43, 388 -15.9 -19.2 41, 669 36, 167 66, 337 46,840 Unmanufactured leaf- _ thous. of Ibs.. 50, 375 906,029 747, 967 946, 711 -37.3 -50.5 3, 217, 464 2, 589, 066 468,852 775, 081 761, 026 611, 221 Cigarettes thousands 317, 894 234, 949 15,078 -86.8 -46.4 61,319 25, 210 8,076 Sales of loose-leaf, warehouses thous. of lbs._ 122, 882 130,006 118,493 Price, wholesale, Burley good leaf, 21.00 21.00 25.00 25.00 -16.0 21.00 21.00 21.00 dark red. Louisville dolls, per 100 Ibs— i Revised. « Cumulative through Mar. 31. * See table on p. 23 of the April, 1927, issue for earlier data, t See table on p. 22 of the May, 1927, issue for earlier -3.0 -13.0 -11.5 +3.2 -5.9 +5.1 -.8 -2.3 +7,2 -5.7 +9.4 -19.5 +35.3 data 42 TREND OF BUSINESS MOVEMENTS—Continued 1937 1926 The cumulatives shown are through April, except where otherwise noted. Earlier data for items shown here may be found on pages 26 to 134 of the February, 1927, "Survey" December January February PER CENT INCREASE (+) OR DECREASE (— ) 1936 March March April Apr., 1927, from Mar., 1927 April CUMULATIVE TOTAL FROM JANUARY 1 THROUGH APRIL 30 Apr., 1927, from Apr., 1926 1936 1937 Per ct. increase (+) or decrease (-) cumulative 1927 from 1926 TRANSPORTATION River and Canal Cargo Traffic Panama Canal: Total cargo traffic ... .thous. of long tons._ 2,242 2,230 2,310 In American vessels. ..thous. of long tons.. 1,149 1,216 1,233 In British vessels thous of long tons 539 478 551 Sault Ste. Marie thous of short tons None. None. 1,387 Cape Cod Canal _._ short tons.. 79, 465 50,378 41, 945 Suez Canal thous. of metric tons . 2,305 2,209 2,304 Mississippi River, Qovt. barges short tons_. 80, 910 85,482 89, 610 Ohio River, Pittsburgh, Pa., to Wheeling, W. Va__ _ short tons.. 639, 709 621, 496 624, 697 Allegheny River _ _ short tons. _ 191,719 85, 605 89, 242 Monongahela River short tons 2, 116, 215 1 935 879 2, 117, 558 Ohio River tonnage* originating, quantity: Pittsburgh district short tons.. 2 491 562 Huntington district short tons 21,394,393 Cincinnati district short tons.. 2161, 984 Louisville district _ short tons 21,507,496 Total short tons 25,555,435 2,534 1,350 641 None. 52, 081 2,724 104, 301 2,607 1,403 701 None. 58, 023 2,471 74, 688 2, 430 1,410 491 i 4,698 I 54,155 | -4.1 +4.4 -23.4 +8.6 +21.9 -21.6 +134. 9 +4.0 -23.9 9,331 4,804 2,475 9,436 5,125 2,149 2,238 1,157 626 2,000 71, 208 2,255 72, 682 +17.0 +67.9 207, 875 « 6, 777 255,341 571, 193 765, 632 744, 400 761, 947 159, 660 108. 433 184, 015 202, 090 2, 529, 828 1, 829, 631 1, 831, 204 1, 919. 679 -2.8 +69.7 -27.7 -2.3 -8.9 -4.7 1, 761, 686 467,395 6, 876, 716 2, 756, 225 467, 295 8, 412, 896 +56.5 19,390 6,749 12, 641 21, 205 8,052 13, 153 +9.4 +19.3 +4.1 72, 097 51, 775 110,391 77,218 +53.1 +49.1 +2.1 16, 773, 991 17, 255, 824 +0.3 744, 236 747,714 524, 548 +1.3 510, 961 -3.5 3,434,330 3, 777, 347 -9.0 1, 297, 437 1, 197, 728 +48.5 205, 414 244,705 +1.3 4, 540, 673 4, 603, 599 +6.0 6, 027, 353 6, 173, 770 +2.9 +0.5 -2.6 +10.0 -7.7 +19.1 +1.4 +2.4 s 1,090, 506 5 1,118, 096 5 249, 033 s 236, 823 5 1,473, 728 5 1,487, 054 5 1,137, 069 51,144,385 6 223, 840 6 226, 572 6 111, 750 5 118, 289 +2.5 -4.9 +0.9 +0.6 +1.2 +5.9 8 19, 724 6 8, 309 +1.0 -0.1 122,000 31,998,586 31,000,806 3 75, 500 3 487, 245 23,562,137 +1.1 +6.7 -13.2 198, 559 -4.5 «7,238 +6.8 401,393 i +57.2 +22.3 i i Ocean Traffic Clearances, vessels in foreign trade: Total thous of net tons 6,888 American thous. of net tons.. 2,366 Foreign thous of net tons 4,522 Vessel losses (quarterly) : Lost gross tons 2 30, 290 Abandoned ... gross tons 2 124 175 5,153 1,818 3,335 4,745 1,734 3,011 5,147 1,882 3,265 5,034 1,721 3,313 5,160 2,618 3,542 5,221 1,838 3,383 * 25 845 * 73, 945 3 37 033 3 261, 720 +0.3 +39.1 +8.5 -1.2 +43.0 +4.7 +22.3 +43.3 +110. 8 +253. 9 Shipbuilding Completed during month: Total gross tons Steel seagoing gross tons Building or under contract, end of month: Merchant vessels thous. of gross tons World (quarterly), launched: Number of ships. . Tonnage thous of gross tons Under constructionNumber of ships Tonnage thous. of gross tons 36, 376 31, 605 6,396 1,208 19, 374 15, 532 314 313 310 41, 869 26, 847 ' 42, 752 33, 631 33,016 28, 850 22, 874 18, 096 229 +2.1 +25.3 +86.9 +85.9 288 228 2130 2 410 3118 3 289 <134 4 461 -9.2 -29.5 -11.9 -37.3 476 1 933 645 2,570 524 2,010 +35.5 +23.1 +27.9 Freight Cars Surplus (daily av. last week of month): Total cars 275,260 Box , _. cars 166, 532 Coal cars 61, 181 Shortage (daily av. last week of month) : Total cars 28 Box cars None. Coal. cars 18 Car loadings: Total cars 3,780,031 Grain and grain products . cars_. 184, 139 Livestock _. cars 121, 747 Coal and Coke cars.. 947, 265 Forest products .cars _ _ 234, 152 Ore cars 38, 792 Merchandise and 1. c. 1 cars_. 987, 699 Miscellaneous cars 1, 266, 237 Railroad Operations Operating revenue: Freight thous. of dolls Passenger thous of dolls Total operating thous of dolls Operating expenses . thous. of dolls Net operating income thous. of dolls Freight carried mills, ton-miles Pullman company operations: Revenue _ thous of dolls Passengers carried _ thousands . . 259, 548 148, 742 62, 588 275, 153 141, 589 83,252 248, 477 131, 844 68, 417 259, 736 127, 432 90,075 246, 549 95,478 104, 280 276, 573 118,419 115, 205 164 2 85 125 None. 85 538 None. 466 19 8 1 13 None. None. None. 8 12 +4.5 -3.3 +31.7 -96.5 +58.3 -99.8 -87.5 4, 524, 749 3,823,931 4, 016, 395 4, 890, 749 13,877,397 14,791,006 +21.8 160, 217 188, 152 i 159, 249 i 187, 589 +17.4 178, 387 220, 958 137, 048 i 113, 498 i 135, 275 +25.4 109, 265 110, 990 153, 658 -4.9 852, 223 i 783, 393 i 883, 334 896, 527 903, 149 1, 125, 448 344, 373 i 307, 889 i 378, 461 +22.2 281, 834 275, 597 295, 924 i 42, 177 i 75, 210 +160. 3 111,719 42, 923 42, 823 47, 240 1, 187, 182 1, 009, 978 1, 070, 952 1, 335, 487 11,061,040 11,317,862 +24.7 1, 494, 339 1, 303, 007 1, 454, 677 1, 921, 747 11,410,151 11,813,275 +32.1 i 401, 953 i 80, 813 i i 531, 464 ! i 397, 132 '• i 94, 658 138,669 384, 108 89, 622 526, 486 407,302 80, 893 40, 096 357, 840 85, 975 487, 004 387, 489 61, 579 39, 223 353, 857 74, 218 468, 994 361, 473 70,045 37, 250 406, 399 76, 630 531, 056 395, 423 94, 948 41, 816 6,437 2,889 7,086 2,988 6,180 2,583 6,458 2,738 62, 428 2,608 8,549 13.8 206 450 52 62, 387 2,611 9,256 14.9 145 210 26 62, 333 2,611 9,548 15.4 160 214 85 62, 275 2,612 9,334 15.1 142 201 70 62, 039 2,615 8,915 14.5 187 223 27 276 53 262 56 232 44 210 34 187 30 i -6.1 +7.6 -21.8 370, 024 80, 641 499, 662 384, 833 76, 282 36, 317 6, 387 2,718 6,326 2, 810 63, 548 2,596 10, 191 16.2 204 205 204 63,440 2,597 9,836 15.6 189 295 251 5 19, 526 5 8, 317 Railway Equipment Locomotives (Am. Ry. Assn.): Owned, end of month number Tractive power mills of Ibs In bad order, end mo number Per cent of total in use per cent.. Installed during month number-Retired during month number _ Ordered from manufacturers number. . Unfilled orders (railroads)— From manufacturers number In railroad shops number.. 12 Revised. Quarter ending December, 1926. 1 3 4 Quarter ending March, 1927. Quarter ending March, 1926. 635 103 1 559 95 -0.4 +0.1 -4.5 -4.0 +31.7 +10.9 -61.4 -2.2 +0.7 -9.4 -7.1 -1.1 -24.4 -89.2 -11.0 -11.8 -66.5 -68.4 759 928 528 634 i -16.6 848 i -8.6 208 I -60.6 * Cumulative through Mar. 31. *See table on p. 27 of the March. 1927. issue for earlier data. 43 TREND OF BUSINESS MOVEMENTS—Continued The cumulatives shown are through April, except where otherwise noted. Earlier data for items shown here may be found on pages 26 to 134 of the February, 1927, "Survey" 1936 December 1927 February January PER CENT INCREASE (+) OR DECREASE (— ) 1926 March April March April Apr., 1927, from Mar., 1927 CUMULATIVE TOTAL FROM JANUARY 1 THROUGH APRIL 30 Apr., 1927, from Apr., 1926 1927 1926 Per ct. increase (+> or decrease (-) cumulative 1927 from 1926 TRANSPORTATION— Continued Railway Equipment— Continued Locomotives— Continued. Shipments (Census)— Total ._ _ . number 185 57 80 137 162 151 -28.5 98 Domestic152 Steam . number 84 69 16 146 122 -14.3 72 Electric number 17 8 * 11 11 10 23 12 +109. 1 Shipments (qtly.), electric locomotives4 2304 Mining number »272 -10.5 165 4 Industrial __ number... 275 3 11 19 -85.3 Unfilled orders, end of monthTotal number 398 405 385 396 780 327 713 -15.1 Domestic—Steam number 297 314 334 301 15 3 255 635 580 14 Electric number.. 22 16 48 35 50 44 -27.1 Exports, steam... number 17 41 9 47 15 20 9 -68. 1 Freight cars (Am. Ry. Assn.): Owned, end of month cars 2, 336, 470 2, 335, 923 2, 334, 917 2, 332, 756 2, 332, 184 2, 346, 242 2, 348, 148 0.0 Capacity _ _ . mills, of lbs._ 211,436 211, 488 211, 477 211, 495 211, 649 +0.1 210, 569 210, 966 In bad order, end mo cars 130, 146 130, 470 138, 292 136, 847 162, 470 +3.8 135, 458 159, 845 Per cent of total in use per cent.. 5.7 5.9 6.1 5.7 +3.5 7.0 6.9 5.9 Ordered from manufacturers cars.. 5,831 17, 196 4,185 5,253 3,362 7,640 5,622 -36.0 Shipments by manufacturersTotal cars 2, 656 3,209 4,449 3,023 8,811 9,257 +25.2 5,570 Domestic cars 2,450 3,160 3,009 4,445 5,562 8,668 9,207 +25.1 Unfilled orders (railroads)— Total cars 18, 481 28, 426 27, 069 26, 717 44, 183 -1.5 26, 305 43, 582 12, 313 From manufacturers cars _ _ 18, 255 17, 209 17, 395 35, 810 34, 839 +4.7 18, 217 In railroad shops. _ cars.. 6,168 9,322 10, 171 9,860 13.2 8,373 8,088 8,743 Passenger cars: Ordered from manufacturers cars 105 314 212 246 6 107 230 -97.2 Shipments by manufacturers — Total-. cars 191 60 86 56 +2.3 115 225 88 Domesticcars 191 42 55 71 102 225 +23.9 88 2 8 4 Unfilled orders, end of quarter _ _ cars.. 730 1, 013 1, 206 +38.7 -35.1 602 372 -38.2 -41.0 +91.7 460 56 241 52 -47.6 -7.1 -56.0 -20.5 +66.7 125 112 -10.4 -0.7 +0.3 -15.3 -14.5 -40.2 36, 146 29, 996 -17.0 -39.8 -39.6 28,271 27, 255 16, 251 16, 176 -42.5 -40.6 +64.8 —42.1 -54.1 -39.6 -47.7 -97.4 706 778 +10.2 -60.9 -60.9 -16.0 681 649 290 256 -57.2 -60. 6 -2.8 +94.5 188, 098 13, 131 226, 711 +20.5 27, 941 +112.8 « 68, 617 8 73, 369 s 70, 367 « 74, 762 +2.6 +1.9 «3 11, 975 80, 310 61, 206 « 12, 121 5 78, 256 63, 134 +1.2 -2.6 +3.2 6 174, 279 e 41, 919 « 191, 453 5 48, 738 +9.9 +16.3 « 30, 567 6 37, 919 6 4, 971 -3.1 -2.0 +4.3 Passenger Travel National parks: Visitors.Automobiles entered Arrivals from abroad: Immigrants United States citizens Departures abroad: Emigrants _. _. United States citizens Passports issued number.. number. . 31, 302 1,744 51, 972 6,359 58, 599 6,187 59, 597 6,887 number.. number.. 23, 805 16, 777 18,804 16, 913 21, 695 25, 097 29, 868 32, 752 number number number.. 9,481 19, 608 8,431 3,928 21, 483 9,053 3,949 29, 732 9,381 4,244 27, 041 17, 556 61, 634 15,329 9,549 11, 873 1,336 54, 955 4,081 58, 192 4,374 29,504 29, 987 33, 400 28, 931 3,457 25, 215 16, 502 4, 989 26, 312 27, 239 65, 679 16,892 59, 581 14, 056 59, 521 14, 669 10, 944 13, 489 2,297 11, 276 13, 836 2,092 10, 564 12, 980 1,611 102, 483 35, 079 100, 904 33, 954 831, 238 802, 890 56, 543 8,508 27, 144 -5.1 +23.5 +54.6 -6.3 PUBLIC UTILITIES Telephone companies: Operating revenues thous. of dolls 64,766 64, 140 Operating income. __ ..thous. of dolls.. 16, 261 16, 517 Telegraph companies: Commercial telegraph tolls. thous. of dolls.. 11, 032 10, 074 Operating revenue . _ _ thous. of dolls. _ 13, 726 12, 557 1,712 Operating income thous. of dolls. _ 1,338 Gas and electric companies: Gross earnings thous. of dolls 113, 516 113, 157 Net earnings thous. of dolls 42, 217 40, 018 Electric railways (212 companies): Passengers carried thous. of persons.. 855, 835 831, 635 Electric power production: 1 Total mills, of kw. hours 6,817 6, 730 By water power mills, of kw. hours.. 2,405 i1 2, 354 By fuels mills, of kw. hours.. 4,412 4, 376 In street railways, 441 manfg. plants, etc mills, of kw. hours.. 427 In central stations mills of kw hours 1 6,376 1 1 6, 303 Gross revenue sales _ _ . thous. of dolls 154, 700 161, 200 105, 906 36, 267 756, 806 1 1 1 1 833, 316 6, 081 2, 196 3, 885 6,692 2,563 4,129 374 1 5, 707 147, 600 402 6,290 800, 722 6,178 2,287 3,891 1 5, 812 i1 2, 346 3, 466 6 31, 543 '638, 676 4, 768 -3.9 -0.3 3, 222, 479 +0.5 17, 966 • 6, 203 8 11, 764 s 19, 503 « 7, 113 « 12, 390 +8.6 +14.7 +5.3 « 1, 271 16, 695 5 1, 203 6 18, 300 -5.4 +9.6 3, 207, 991 5 r < 422 383 1 5,756 5, 429 141, 800 i 139, 800 5 EMPLOYMENT AND WAGE§ Employment in factories: New York State-. thousandsDetroit. ... . thousands New Jersey (rel. to 1923) _ _ . index number.. Pennsylvania (rel. to 1923) ..index number.. Delaware (rel. to 1923) index number.. Wisconsin (rel. to 1915) index number.. Illinois (rel. to 1922) index number Massachusetts (rel. to 1914) .index number.. Total pay roll: New York State thous. of dolls.. Wisconsin (rel. to 1915) index number.. New Jersey (rel. to 1923) index number.. Pennsylvania (rel. to 1923).. index number. _ Delaware (rel. to 1923) index number. _ Ohio construction employees (rel. to 1923) index number 495 88 96 93 78 116.5 99.7 88.5 485 216 95 91 78 115.4 97.8 87.9 491 223 95 91 79 118.7 98.4 89.4 494 226 95 91 77 119.4 98.1 88.5 14,584 253.7 111 92 91 14, 286 251.2 107 87 87 14,436 274.1 109 91 89 14, 714 273.0 109 91 87 85 62 i Revised. Quarter ending Dec. 31, 1926. 2 3 487 226 94 88 74 117.3 97.5 j 86.5 1 14, 215 268.1 107 89 84 69 66 66 Quarter ending 3V[ar. 31, 192 J. Quarter ending Mar. 31,1926. 517 270 93 93 86 124.8 101.8 95.0 509 251 91 93 85 123.4 101.5 92.6 -1.4 0.0 -1.1 -3.3 -3.9 -1.8 -0.6 -2.3 -4.3 -10.0 +3.3 14, 996 302.9 98 92 93 14, 691 298.7 96 90 93 -3.4 -1.8 -1.8 -2.2 -3.4 -3.2 -10.2 +11.5 -1.1 -9.7 64 j2' g -19 -3.9 -6.6 71 -7.0 0.0 « (Uunaulative throu gh Mar. 31. I I 44 TREND OF BUSINESS MOVEMENTS—Continued 1926 The cumulatives shown are through April, except where otherwise noted. Earlier data for items shown here may be found on pages 26 to 134 of the February, 1927, "Survey" 1927 Decem- January ber February PER CENT INCREASE (+) OR DECREASE (— ) 1926 March April March April Apr., 1927, from Mar., 1927 Apr., 1927, from Apr., 1926 Per ct. increase ( } or-tdecrease (-) cumulative 1927 from 1926 CUMULATIVE TOTAL FROM JANUARY 1 THROUGH APRIL 30 1926 1927 EMPLOYMENT AND WAGES-Contd. Federal civilian employees, Washington, D. C., end of month. number.. 59, 569 Average weekly earnings (State reports) : Illinois factory labor * . . . dolls 28.87 New York State, factory labor dolls.. 29.47 Wisconsin, factory labor * dolls 24.61 Massachusetts (rel. to 1914). index number.. 181.3 New Jersey (rel. to 1923) index number.. 112 Pennsylvania (rel. to 1923). .index number.. 106 Delaware (rel. to 1923)) index number.. 108 Average weekly earnings (National Industrial Conference Board): Grand total (both sexes) dollars.. 27.05 Total male _ dollars _ 29.12 Skilled male dollars.. 30.66 Unskilled male . _. _ dollars 23.61 Total women dollars 17.36 Average weekly hours: Nominal (both sexes) hours . . 49.4 Actual (both sexes) hours.. 47.8 Wages of common labor, by geographic divisions: New England ceflts per hour 54 Middle Atlantic cents per hour 50 South Atlantic cents per hour 36 East South Central cents per hour 24 West South Central - .. cents per hour 27 East North Central cents per hour 40 West North Central _ .cents per hour 35 Mountain cents per hour 40 Pacific cents per hour 52 United States, average cents per hour.. 40 Wage rates, U. S. Steel Corp.. .cents per hour.. 50 Wages, steel workers, Youngstown district _. per cent of base 133.0 Applicants per 100 jobs, employment agencies: 134 United States, average number Eastern States number 135 Central States number 157 Southern States number 121 Western States _ number 78 Factory Labor Turnover (Percentages of number on pay roll) Departures: Total per cent Voluntary quits per cent Layoffs per cent.. Discharges per cent Accessions _ percent.. 30.6 20.0 7.1 3.5 27.1 DISTRIBUTION MOVEMENT Retail Sales Mail-order houses: Total sales, 4 houses thous. of dolls.. 60,863 Total sales, 2 houses thous. of dolls.. 53, 086 Sears, Roebuck & Co thous. of dolls.. 29, 983 Montgomery Ward & Co. -thous. of dolls.. 23,103 Ten-cent chain stores: Total sales (4 chains) thous. of dolls.. 77,498 Total stores operated (4 chains). .number. . 2,220 F. W. Woolworth & Co thous. of dolls.. 41, 347 Stores operated number 1,484 S. S. Kresge Co thous. of dolls.. 20,451 Stores operated number 368 McCrory Stores Corp thous. of dolls.. 6,031 199 Stores operated number 9,669 S. H. Kress & Co thous. of dolls Stores operated number 169 Metropolitan thous. of dolls.. 2,141 81 S tores operated number 1,821 F. & W. Grand _ .thous. of dolls . 41 Stores operated number W. T. Grant Co . thous. of dolls 6,455 Stores operated number 106 Chain stores: Groceries104, 518 Sales thous of dolls Stores operated number 26,417 DrugSales ...thous. of dolls.. 10,223 Stores operated number 733 CigarSales thous. of dolls 13, 138 3,434 Stores operated number Shoe5,029 Sales thous. of dolls Stores operated number 576 Music2,018 Sales thous. of dolls.. 61 Stores operated number Candy3,684 Sales thous. of dolls Stores ooerated number.. 259 * See table on p. 25 of the March, 1927, issue for earlier 59, 615 59,502 59,591 61,274 61,211 28.23 29.52 24.58 178.3 109 102 104 28.85 29.39 26.06 182.2 111 106 105 28.72 29.78 25.80 182.9 111 106 106 28.68 29.04 26.56 184.8 105 104 103 28.87 28.85 26.47 180.3 105 103 104 27.68 29.57 30.93 24.69 17.25 27.68 30.17 31.61 24.93 17.38 27.53 30.00 31.39 24.92 17.48 27.49 30.13 31.82 24.21 17.30 27.26 29.87 31.50 24.01 17.38 49.5 48.2 49.5 48.6 49.6 48.5 50.1 49.0 50.4 48.5 44 46 24 24 27 39 38 43 51 37 50 50 50 39 24 32 44 37 41 53 41 50 51 51 32 24 26 39 37 42 52 39 ,50 56 46 30 24 27 38 36 44 53 39 50 54 46 27 24 28 40 37 45 52 39 50 133.0 133.0 128.5 128.5 131.5 131.5 0.0 -2.3 160 156 203 146 78 158 162 191 155 72 137 146 165 125 67 118 122 140 113 62 137 117 185 114 64 126 114 157 137 62 -13.9 -16.4 -15.2 -9.6 -7.5 -6.3 +7.0 -10.8 -17.5 0.0 41.4 23.4 12.3 5.7 35.0 38.8 22.1 10.6 6.1 37.3 45.9 33.1 6.2 6.6 45.2 45.7 31.1 8.7 5.9 51.3 50.6 35.4 7.1 8.2 56.5 60.8 46.4 6.1 8.5 52.3 39,458 35, 237 22, 080 13, 157 39, 019 35, 150 20, 966 14, 184 48, 186 41, 147 23, 254 17, 893 46,965 40,648 24,091 16, 557 47,369 40, 262 21, 996 18, 266 44, 064 38,841 22, 998 15,843 -2.5 -1.2 +3.6 -7.5 +6.6 +4.7 +4.8 +4.5 174,237 153, 229 89,008 64,221 173, 628 152, 182 90,391 61,791 -0.3 -0.7 +1.6 -3.8 29, 647 2,223 16, 124 1,484 7,956 370 2,275 199 3,292 170 655 81 658 44 2,205 106 31, 963 2,244 17, 379 1,494 8,309 376 2,740 202 3,535 172 693 82 712 48 2,249 109 35, 575 2,261 19, 602 1,505 9,183 382 2,860 202 3,930 172 801 82 879 50 2,789 111 40, 775 2,281 22, 350 1,515 10, 788 388 3,308 207 4,329 171 1,000 82 1,189 52 3,364 115 33, 162 2,094 18, 308 1,431 8,472 316 2,538 180 3,844 167 684 72 764 38 2,310 80 33, 780 2,104 18, 967 1,435 8,591 322 2,458 180 3,764 167 748 74 787 38 2,562 81 +14.6 +0.9 +14.0 +0.7 +17.5 +1.6 +15.7 +2.5 +10.2 -0.6 +24.8 0.0 +35.3 +4.0. +20.6 +3.6 +20.7 +8.4 +17.8 +5.6 +25.6 +20.5 +34.6 +15.0 +15.0 +2.4 +33.7 +10.8 +51.1 +36.8 +31.3 +42.0 123, 195 137, 960 67,915 75,455 32,010 36,236 9.336 11, 183 +12.0 +11.1 +13.2 +19.8 13,934 15, 086 +8.3 2,582 3,149 +22.0 2, 824 3,438 +21.7 8,888 10,607 +19.3 97,405 26, 608 92,988 26, 696 108,389 26, 618 106,953 27,002 84,676 24,743 92,205 24,889 -1.3 +1.4 +16.0 +8.5 337,478 405, 735 +20.2 8,195 741 7,888 742 8,768 742 8,739 746 7,586 619 7,474 625 -0.3 +16.9 +0.5 +19.4 28, 773 33, 590 +16.7 7,963 3,411 8,110 3,398 9,077 3,404 9,274 3,414 8,442 3,270 8,886 3,288 +2.2 +0.3 +4.4 +3.8 32,417 34,424 +6.2 2,486 576 2,572 578 2,929 575 4,628 587 3,340 529 3,880 538 +58.0 +19.3 +2.1 +9.1 12,018 12, 615 +5.0 852 61 888 63 976 63 938 62 1,013 59 1,000 59 -6.2 +5.1 3,856 3,654 -5.2 2,163 243 2,361 245 2,618 253 3,117 258 1 2,504 236 2,745 249 +19.1 +13.6 +2.0 +3.6 9,378 10, 259 +9.4 data. 29.17 1 183.5 111 106 106 49 1 47 25 25 34 38 38 43 52 1 39 50 -2.0 +1.1 +0.3 0.0 0.0 0.0 +1.8 +5.7 +2.9 +1.9 'i i i i i I -3.9 -9.3 -7.8 +2.2 —21.9 -7.4 +4.2 +4.2 +30.8 +21.4 -2.6 -5.0 +2.7 +2.7 +2.4 —4.4 0.0 0.0 0.0 0.0 0.0 0.0 I -0.4 -24.8 -6.0 -33.0 +40.3 +42.6 -10.6 -30.6 -1.9 +13.5 -3.9 -1.6 1 45 TREND OF BUSINESS MOVEMENTS—Continued . 1926 The cumulatives shown are through April, except where otherwise noted. Earlier data for items shown here may be found on pages 26 to 134 of the February, 1927, "Survey" 1927 Decem- January ber February PER CENT INCREASE (+) OR DECREASE (— ) 1926 March April March April Apr., 1927, from Mar., 1926 Apr., 1927, from Apr., 1926 CUMULATIVE TOTAL FROM JANUARY 1 THROUGH APRIL 30 1926 1927 Perct. increase or decrease (-) cumulative 1927 from 1926 DISTRIBUTION MOVEMENT-Contd. Retail Sales— Continued Bestaurant chains: Total sales (3 chains) thous. of dolls.. Stores operated number Average per store dollars Childs Co., sales thous. of dolls _ Waldorf System (Inc.), sales thous. of dolls J. R. Thompson Co., sales thous of dolls Other chain stores: Isaac Silver & Bros _. thous. of dolls. . Stores operated number Hartman Corporation thous. of dolls.. Stores operated number J. C. Penny Co thous. of dolls.. Stores operated number.. United Cigars Stores Co thous. of dolls.. S tores operated number . A. Schulte (Inc.) thous. of dolls.. Stores operated.. number Owl Drug Co thous. of dolls Stores operated number 5,138 350 14, 680 2,699 4,896 352 13,909 2,537 4,463 352 12, 679 2,319 4,903 353 13, 890 2,522 4,875 353 13, 810 2,443 4,890 343 14, 257 2,512 4,770 343 13, 907 2,455 -0.6 0.0 -0.6 -3.1 +2.2 +2.9 -0.7 -0.5 18, 785 19, 137 +1.9 9,610 9,821 +2.2 1,177 1,134 1,026 1,138 1,234 1,150 1,113 +8.4 +10.9 4,434 4, 532 +2.2 1,262 1,225 1,118 1,243 1,198 1,229 1,202 -3.6 -0.3 4,742 4,784 +0.9 951 19 1,496 15 15,986 747 9,478 3,134 3,574 292 1,870 95 281 19 842 15 6,236 671 5,723 3,109 2,204 294 1,318 95 311 19 1,152 16 7,425 758 5,715 3,096 2,362 294 1,253 96 388 20 1,168 17 9,796 780 6,500 3,102 2,542 294 1,456 95 465 20 2,424 17 13, 508 781 6,652 3,112 2,592 294 1,413 94 298 14 1,338 16 7,978 687 6,267 2,986 2,133 273 1,367 88 342 +19.8 15 0.0 2,238 +107. 5 16 0.0 8,763 +37.9 692 +0.1 6,504 +2.3 2,995 +0.3 2,341 +2.0 282 0.0 1,291 -3.0 88 -1.1 +36.0 +33.3 +8.3 +6.3 +54.1 +12.9 +2.3 +3.9 +10.7 +4.3 +9.5 +6.8 +32.0 Magazine advertising thous. of lines.. 2,373 Newspaper advertising thous. of lines.. 107,351 National advertising in newspapers: Total thous. of lines.. 21, 513 2,486 Automobile advertising thous. of lines.. 1,372 Automobile accessories thous. of lines.. Cigars, cigarettes, and 1,748 tobacco thous. of lines 927 Financial ._ thous. of lines.. 2,281 Food, groceries, beverages.. thous. of lines.. 395 Hotels and resorts thous. of lines.. 247, Household furniture thous. of lines., 261 lien's clothing .. . thous of lines Musical instruments.. thous. of lines.. 501 2,628 Radio and electrical thous. of linesRailroads and steamships thous. of lines.. 1,972 Shoes _ thous. of lines.. 269 Toilet articles and medical 3,231 preparations _ _ _ _ _ _ _ _ thous. o f lines 97 Women's wear thous. of lines. . 3,098 Miscellaneous _._thous. of lines. _ 1,821 97, 140 2,210 90,447 2,441 106, 700 2,720 112, 123 2,372 112, 810 2,620 114, 878 +11.4 +5.1 22,953 5,352 1,028 26,718 5,593 1,107 29,500 5,267 1,085 29,785 5,622 1,460 32, 766 6,827 845 32,609 6,193 1,275 1,257 905 2,239 315 148 26 184 1,370 1,275 116 2,720 922 3,102 202 274 37 161 1,439 1,300 65 3,153 923 3,983 537 306 294 103 1,214 1,235 162 3,057 894 4,336 389 1,412 492 186 968 1,733 240 5,312 31 3,395 6,688 104 3,004 6,983 215 4,040 40,282 30, 394 29,299 4,340 3,317 3,284 13, 338 104, 807 10, 576 80,473 3,658 37, 139 1,095 1,445 5,688 5,586 -1.8 27, 184 36, 965 +36.0 23,989 24,590 +2.5 8,263 9,700 +17.4 5,113 5,440 +6.4 +3.8 -2.4 8,915 421, 199 9,192 406,410 +3.1 -3.5 +1.0 -8.7 +6.7 -9.2 +34.6 +14.5 117,257 25,410 3,387 108, 956 21, 834 4,680 -7.1 -14.1 +38.2 2,003 1,154 4,409 279 681 369 244 1,242 1,239 240 2,850 -3.0 +7.3 925 -3.1 -3.4 4,920 +8.9 -11.9 383 -27.6 +1.6 1,261 +361. 4 +12.0 492. +67.3 0.0 124 +80.6 +50.0 872 -20.3 +11.0 2,119 +40.3 -18.2 287 +48.1 -16.4 8,558 4,055 14, 496 1,337 2,343 972 677 4,740 5,980 639 10, 187 3,644 13, 660 1,443 2,140 849 634 4,991 5,543 583 +19.0 -10.1 -5.8 +7.9 -8.7 -12.7 -6.4 +5.3 -7.3 4,792 283 3,921 8,504 293 4,437 6,005 336 4,567 -31.4 +31.6 -2.9 -20.2 -15.8 -14.1 27,551 718 15, 394 23, 775 633 14, 360 -13.7 -11.8 -6.7 34, 590 31, 750 33, 454 30, 851 -8.2 +2.9 121, 509 126,033 +3.7 3,572 3,338 3,525 3, 234 -6.6 +3.2 13, 124 13, 511 +2.9 10,276 77, 680 12, 715 98, 572 11,623 92, 019 12, 543 94, 968 11,411 87, 948 -8.6 -6.6 +1.9 +4.6 44, 466 336, 126 45, 190 348, 744 +1.6 +3.8 3,303 34,001 3,158 32, 240 3,650 36,394 3,378 34, 857 3,539 35, 411 3,218 32, 687 -7.5 -4.2 +5.0 +6.6 12, 835 129, 768 13, 489 137, 492 +5.1 +6.0 181,318 1,438 180, 048 1,397 206, 283 1,505 242, 606 2,040 247, 479 1,936 222, 768 1,897 249, 618 1,881 +2.0 -5.1 -0.9 +2.9 172 169 165 130 176 178 3.7 10.5 8.0 5.4 5.7 5.0 249, 584 205, 604 246, 519 227, 169 239, 720 767, 121 851, 905 890, 560 844, 659 787, 138 178 176 176 163 190 972, 901 1, 140, 322 1, 098, 600 1, 084, 569 1, 014, 470 -1.2 -4.3 -1.1 -3.7 +8.5 +8.2 +8.0 +8.3 844, 412 3, 102, 986 705 3,948,103 889, 167 3, 188, 876 722 4, 078, 766 +5.3 +2.8 +2.4 +3.3 918, 717 1,005,177 1, 206, 947 1, 127, 415 1, 128, 636 1,075,226 51,967 66,803 32, 452 44,257 28,991 60, 919 -6.6 -56.6 +4.9 -52.4 4,145,618 198, 220 4,258,256 180, 213 +2.7 -9.1 625, 988 749, 923 724, 454 740, 725 207, 217 227, 279 241, 701 230, 203 46, 119 104,057 45, 960 72, 368 879, 324 1, 086, 483 1, 023, 162 1,027,025 +1.2 -6.0 -55.8 -5.8 +11.1 +5.5 -43.0 +5.3 2, 557, 468 847,647 292,399 3, 697, 514 2, 693, 278 861, 489 290, 581 3, 845, 348 +5.3 +1.6 -0.6 +4.0 Advertising Postal Business Postal receipts, 50 selected cities thous. of dolls.. Postal receipts, 50 industrial cities thous. of dolls— Money orders: * Domestic paid (50 cities)— Quantity number Value thous. of dolls— Domestic issued (50 cities)— Quantity number Value thous. of dolls— Wholesale Trade Delinquent accounts, electrical trade: Amount dollars— Number of firms number.. Iron, steel, and heavy hardware: * Sales index index number __ Retail Trade * Installment sales in New England department stores: Ratio to total sales per cent— BANKING AND FINANCE Life Insurance (Association of Life Insurance Presidents) Policies, new (45 companies) : Ordinary number of policies 273, 769 Industrial.. _ number of policies. _ 838, 577 Group number of contracts 456 Total number of policies and contracts.. 1, 112, 802 Policies and certificates issued: Total policies and certificates number.. 1, 326, 623 Group insurance certificates... certificates.. 214,277 Amount of new insurance (45 companies) : Ordinary thous of dolls 813, 479 Industrial thous. of dolls- 228,008 Group thous. of dolls- 262, 452 Total insurance thous. of dolls. _ 1, 303, 939 * See table on p. 26 of the March, 1927, issue for earlier 187, 460 679, 290 192 866, 942 576,642 185,292 94,445 856,379 data. 675, 296 215, 504 80,663 971,463 46 TREND OF BUSINESS MOVEMENTS—Continued 1926 1927 PER CENT INCREASE (+) OR 1926 DECREASE (— ) The cumulatives shown are through April, except where otherwise noted. Earlier data for items shown here may be found on pages 26 to 134 of the February, 1927, "Survey" February March April March April 135, 395 45, 920 7,065 188, 380 135, 969 43, 286 4,803 184,058 159, 168 45, 534 5,774 210, 476 149, 993 45,650 ! 5,427 ; 201, 070 142, 143 43, 344 4,814 190, 301 139, 123 40, 763 3,240 183, 126 10, 432 10, 529 10, 606 10, 713 9,630 9,717 4, 532 1,588 2,944 4,587 1,592 2,995 4, 637 1,599 3,038 4, 686 1,604 3, 082 4,016 1,543 2,473 4,073 1,552 2,521 3,975 920 2,172 756 127 3,987 919 2,173 764 131 4,002 918 2,173 775 136 4,033 921 2,183 792 137 3,825 1,007 2,074 636 108 3,846 996 2,091 650 109 1,229 696 1,240 715 1,252 715 1,268 726 1,141 648 1,152 646 879, 049 356, 488 189,106 133, 132 112, 856 87, 467 47, 366 601, 985 257, 734 133, 912 86, 167 66, 112 58, 060 36, 986 673, 855 293, 294 145, 932 95, 686 77, 258 61, 685 35, 525 836, 995 356, 736 183, 761 121, 369 92, 094 83, 035 42, 883 790, 669 314, 969 177, 861 121, 290 97, 904 78, 645 40, 483 743, 635 301, 053 156, 590 119, 914 94, 449 71, 629 37, 346 D beTm" January 154, 534 73, 947 7,683 236,164 Perct increase ( } or tdecrease (-) cumulative 1927 from 1926 CUMULATIVE TOTAL FROM JANUARY 1 THROUGH APRIL 30 Apr., 1927, from Mar., 1927 Apr., 1927, from Apr., 1926 1926 -5.8 +0.3 -6.0 -4.5 +7.8 +11.9 +67.5 +9.8 529, 417 163, 155 21, 168 713, 740 1927 BANKING AND FINANCE— Continued Life Insurance— Continued (Association of Life Insurance Presidents')— Con. Premium collections (45 companies) : Ordinary _ -thous. of dolls. . Industrial thous. of dolls.. Group thous. of dolls__ Total thous. of dolls. _ Admitted life insurance assets (41 companies) : Grand total mills, of dolls. . Mortgage loans — Total mills of dolls Farm mills of dolls All other mills of dolls Bonds and stocks (book value)— Total mills, of dolls.. Government mills of dolls Railroad mills, of dolls.. Public-utility mills of dolls Allother mills, of dolls.. Policy loans and premium notes mills of dolls Other admitted assets mills, of dolls. . (Life Insurance Sales Research Bureau) Sales of ordinary life insurance (81 companies) : United States total .thous. of dolls. . Eastern manuf. district -thous. of dolls. . Western manuf. district.thous. of dolls. _ Western agric. district. .thous. of dolls.. Southern district.. thous. of dolls.. Far western district thous. of dolls. . Canada total, 15 companies— thous. of dolls. _ 778, 451 316, 582 173,372 114, 529 93, 904 80, 064 41, 631 +9.7 +10.6 +9.0 +9.8 580, 525 180, 390 23, 069 783, 984 1 i -7.0 -11.3 -5.7 -5.6 +2.0 -3.6 -2.9 +4.7 +5.2 +10.7 -4.5 -0.6 +11.8 +11.5 2, 747, 718 1, 123, 889 595, 935 423, 147 340, 062 264, 685 146, 480 2, 891, 286 1, 224, 346 636, 977 417, 751 329, 368 282, 844 157, 025 +5.2 +8.9 +6.9 -1.3 -3.1 +6.9 +7.2 -7.2 -1.9 +2.1 +9.2 +4.7 +4.0 117,657 89, 649 5,203 125, 196 91, 845 5,621 +6.4 +2.4 +8.0 -2.6 +0.4 -5.2 +0.8 -0.6 +0.9 -13.6 +3.4 -6.5 +8.6 +3.2 +5.0 0.0 +0.2 +0.3 +2.9 +6.2 +1.7 +1.6 +17.8 +2.8 +17.0 +5.9 +2.0 0.0 0.0 0.0 -0.9 -3.3 +2.6 0.0 -10.0 -0.3 +8.0 -0.4 -2.8 -71.1 -5.6 +6.9 -2.2 196, 841 1, 217, 913 192, 080 1, 184, 814 -2.4 -2.7 1, 187, 831 1, 103, 600 -7.1 209, 278 +42.4 Banking Debits to individual accounts: 34, 492 29,300 32, 577 32, 007 33, 006 27, 439 31, 258 New York City— ..mills, of dolls.. 22, 512 24, 464 24. 028 23, 579 23, 458 20, 781 23, 457 Outside New York City mills, of dolls.. 1,417 1,664 1,293 1,473 1,443 1,251 1,454 Bank clearings (Canada) mills, of dolls. . Federal reserve banks: 514 632 444 711 456 435 365 Bills discounted mills of dolls 1,662 1,656 1,857 1,717 1,711 1,718 Notes in circulation mills of dolls 1,688 601 562 593 699 602 593 607 Total investments mills of dolls 2,944 2,954 3,207 2,920 3,144 3,183 3,133 Total reserve mills of dolls 2,242 2,314 2,323 2,346 2,328 2,290 2,245 Total deposits mills of dolls 73.4 75.7 79.5 70.1 78.8 78.5 79.6 Reserve ratio per cent Federal reserve member banks: 13, 949 14, 569 14, 353 14, 052 14, 297 14, 359 14, 200 Total loans and discounts. -.mills, of dolls.. 5,576 5,541 5,662 5,914 5,924 5,495 5,540 Total investments mills of dolls 12, 829 12, 901 13, 082 12, 904 13, 041 13, 006 12, 879 Net demand deposits mills of dolls Brokers' loans, end of month: To New York Stock Exchange members thous. of dolls,. 3, 292, 860 3, 138, 786 3,256,459 3, 289, 781 3, 341, 210 3,000,096 2, 835, 719 By New York F. R. member banks thous. of dolls. _ 2, 787, 761 2, 731, 940 2, 813, 045 2, 803, 312 2, 882, 994 2, 573, 051 2, 463, 697 Interest rates: 4.38 4.34 4.59 5.15 4.13 4.10 4.28 New York call loans per cent.. 4.20 4.28 4.38 4.06 3.88 3.98 4.13 Commercial paper 4-6 mos per cent.. 3.90 4.00 4.00 4.00 4.00 4.00 4.00 N Y Fed Res Bank per cent 5.25 5.25 5.25 5.25 5.25 5.25 5.25 Federal land banks per cent.. 5.00 5.00 4.50 4.50 4.50 4.50 4.50 ! j j| Savings Deposits New York State savings banks end of month thous of dolls 3, 862, 801 3, 888, 740 3, 903, 214 3, 973, 202 3, 963, 170 3, 671, 730 3, 668, 819 Public Finances Government debt gross mills of do^ls Customs receipts .. thous. of dolls.. Total ordinary receipts thous. of dolls Expenditures chargeable to ordinary receipts thous of dolls Money in circulation: Total mills of dolls Per capita dollars Business Failures Liabilities (United States) : Total commercial thous. of dolls. _ Manufacturing establishments thous. of dolls.. Trade establishments. -thous. of dolls.. Agents and brokers thous. of dolls.. Liabilities (Canada).. _ thous. of dolls.. Firms (United States) : Total commercial number Manufacturing establishments number Trade establishments number. . Agents and brokers number Firms (Canada) ...number.. 19, 075 48, 431 657, 096 19, 170 44, 695 169, 583 19, 153 43, 379 165, 735 19, 008 52, 753 659,116 18, 941 51, 253 190, 380 20, 083 54, 891 657, 621 20, 069 47, 936 194, 713 414, 032 304, 254 158, 506 330, 329 310, 511 466, 240 336, 867 -6.0 -7.8 5,001 43.03 4,713 40.51 4,779 41.03 4,758 40.81 4,784 40.99 4, 806 41.73 4,854 42.11 +0.5 +0.4 -1.4 -2.7 45, 620 51, 290 46, 941 57, 891 53, 156 30, 623 38, 487 -8.2 +38.1 146, 937 16, 758 20, 579 8,282 2,930 19, 996 24, 530 6, 764 2,954 10, 518 23, 406 13, 017 3,213 22, 368 28, 191 7,332 2,019 25, 278 22, 308 5,570 1,557 9,862 18, 623 2,138 2,244 16, 734 19, 094 2,660 3,212 +13.0 +51.1 -20.9 +16.8 -24.0 +109. 4 -22.9 -51.5 53, 502 79, 546 13, 891 10, 796 2, 069 2,465 2,035 2,143 1,968 1,984 1,957 494 1,469 106 204 501 1,842 122 221 411 1,508 116 189 569 1,468 106 188 492 1,342 134 152 469 1,424 91 159 494 1,378 85 153 -8.2 78, 160 +46.1 98, 435 +23.7 32, 683 +135. 3 9,743 -9.8 +0.6 8,038 8,611 +7.1 -0.4 -13.5 -2.6 -8.6 +26.4 +57.6 -0.7 -19.1 1,920 5,780 338 749 1,973 6,160 478 750 +2.8 +6.6 +41.4 +0.1 47 TREND OF BUSINESS MOVEMENTS—Continued 1927 1926 The cumulatives shown are through April, except where otherwise noted. Earlier data for items shown here may be found on pages 26 to 134 of the February, 1927, "Survey" December PER CENT INCREASE (+) OR DECREASE (— ) 1926 January Febru- March April March April Apr., 1927, from Mar., 1927 Apr., 1927, from Apr., 1926 1926 1927 +11.4 ary Per ct. increase (+) or decrease (-) cumulative 1927 from 1926 CUMULATIVE TOTAL FROM JANUARY 1 THROUGH APRIL 30 BANKING AND FINANCE— Continued Dividend and Interest Payments (For the following month) Grand total Dividend payments: Total Indus, and misc. corp Steam railroads Street railways thous of dolls 579, 850 242, 350 346, 870 460, 100 322, 706 426, 200 289, 800 -29.9 1, 783, 207 1, 951, 876 +9.5 thous of dolls thous. of dolls.. thous of dolls thous. of dolls.. 178, 900 73, 000 30, 900 19, 200 87, 350 47, 600 31, 650 8,100 95, 250 55, 500 33, 850 5,900 104, 200 65, 475 27, 550 11, 175 67, 805 34, 150 26, 300 7,350 99, 700 63, 200 26, 175 10, 325 64, 200 32, 500 24, 950 6,750 -34.9 -47.8 -4.5 -34.2 +5.6 +5.1 +5.4 +8.9 505, 435 263, 375 142, 690 47, 670 533, 505 275, 725 150, 250 51, 725 +5.6 +4.7 +5.3 +8.5 thous. of dolls 47, 492 thous. of dolls. _ 429, 304 52, 383 610, 035 74, 670 785, 649 84, 140 494, 373 121, 686521, 496 21, 500 480, 400 83, 100 442, 586 +44.6 +5.5 +46.4 +17.8 133, 372 1, 951, 724 332, 879 +149. 6 2, 411, 553 +23.6 thous. of dolls. _ thous. of dolls 353, 228 76, 076 507, 503 102, 532 540, 588 245, 061 392, 426 101, 947 389, 915 131, 581 443, 232 37, 168 331, 516 HI, 070 -0.6 +29.1 +17.6 +18.5 1, 701, 684 250, 040 1, 830, 432 +7.6 581, 121 +132. 4 thous. of dolls thous. of dolls.. 94, 969 334, 335 108, 511 501, 524 277, 978 507, 671 114, 507 379, 867 101, 403 420, 093 181, 291 299, 109 31, 733 410, 853 -11.4 +219. 6 +10.6 +2.2 510, 916 1, 440, 808 602, 399 1, 809, 155 +17.9 +25.6 thous of dolls thous. of dolls.. thous . of dolls thous. of dolls.. thous. of dolls ._ thous. of dolls.. 43, 170 136, 656 78, 624 50, 000 65, 993 54, 861 9,346 131, 872 374, 775 150, 115 57, 830 196, 731 58, 963 79, 500 56, 294 71, 851 95, 366 104, 750 55, 505 48, 923 61, 924 216, 932 51, 100 55, 763 70, 424 89, 716 188, 212 50, 979 31, 500 58, 510 75, 081 31, 930 309, 084 106, 350 68, 588 74, 381 40, 286 -6.6 -35.5 -9.3 +4.5 +15.7 +15.4 9,450 +152. 4 +741. 3 53, 533 -3.8 +5.2 48, 498 -4.3 +48.2 163, 535 710, 262 459, 755 164, 987 209, 682 208, 690 288, 764 1, 068, 802 366, 407 182, 288 244, 948 257, 642 +76.6 +50.5 -20.3 +10.5 +16.8 +23.5 thous of dolls thous. of dolls.. thous. of dolls. _ 2,827 640 1,842 13, 000 5,176 14, 625 13, 894 11, 531 31, 260 1,888 16, 540 50, 575 +113. 7 5,735 +122. 8 +101. 1 -38.2 115, 200 22, 099 78, 150 50, 145 32,547 66, 379 -56.5 +47.3 -15.1 14, 664 14, 734 456, 692 298, 739 5, 475, 717 457, 862 240, 950 2, 261, 847 +0.3 -19.3 -58.7 New Security Issues Foreign governments Total corporation Purpose of issueNew capital Refunding. _ Kinds of issueStocks Bonds and notes Class of industryRailroads Public utilities Industrials Oil Land and buildings Shipping and misc Bond issues (Canada) :_ Govt. and provincial Municipal Corporation.. Tax exempt securities:* Total outstanding, end of month _ States and municipalities: Permanent loans Temporary loans New incorporations 4,712 5,460 35, 611 13, 998 7,494 2,700 mills, of dolls 15, 263 15, 332 15, 348 15, 502 thous. of dolls. _ ..thous. of dolls.. thous of dolls 147, 247 70, 149 851, 660 174, 740 30, 476 739, 730 72, 761 121, 867 942, 925 93, 517 67, 501 307, 744 116, 844 21, 106 271, 448 137,426 5,000 117, 632 117, 553 72, 748 122, 301 748, 505 1, Oil, 931 +24.9 -68.7 -11.8 -0.6 -71.0 -73.2 +0.8 -6.3 +8.2 +4.7 -1.9 -17.8 -5.7 -58.5 +6.0 +3.9 +1.1 +38. 2 +28.3 +11.7 Agricultural Finances Loans outstanding, end mo.: Federal farm loan banks. . .thous. of dolls..1, 077, 819 1, 085, 170 1, 097, 642 1, 109, 354 1, 117, 914 1, 027, 361 1, 033, 045 Joint-stock land banks thous. of dolls. _ 632, 476 639, 651 647, 762 656, Oil 614, 481 587, 169 579, 458 Federal intermediate credit 92,434 banks _ i thous. of dolls 82, 424 76, 895 93, 013 78, 383 81, 574 83,991. War finance corporation thous. of dolls.. 12,564 5,220 6,815 7,671 7, 310 6,347 13, 089 | 1j Stocks and Bonds Stock prices, average daily closing: 25 industrials, average dolls, per share __ 179. 36 25 railroads, average dolls, per share _. 100. 25 103 stocks, average dolls, per share. . 117. 43 Southern cotton mill stocks dolls, per share.. 110. 46 Stock sales: N. Y. Stock Exchange thous. of shares.. 41, 891 Bond sales: Miscellaneous thous. of dolls. _ 299, 088 Liberty- Victory thous. of dolls. _ 25, 403 Total thous of dolls 324, 491 Bond prices: Highest-grade rails. p. ct. of par, 4% bond-91.19 Second-grade rails.. p. ct. of par, 4% bond.. 82.51 Public utility p. ct. of par, 4% bond 76.59 Industrial p. ct. of par, 4% bond.. 78.89 Comb, price index. .p. ct. of par, 4% bond.. 81.95 175. 39 101. 55 115. 29 181.06 188. 70 105. 66 119. 69 120. 30 106.58 199. 99 110. 74 121. 65 158. 05 87.35 106. 63 144. 70 86. 33 108. 94 .1 109. 72 110. 36 110. 73 111.36 119. 49 117. 79 +0.6 -5.5 34, 757 44, 163 56, 057 49, 636 52,040 30, 224 -11.5 +64.2 156, 814 184, 613 +17.7 326, 065 25, 349 351, 414 282, 405 15, 288 297, 693 313, 565 45, 471 359, 036 290, 520 25, 800 316, 320 247, 061 27, 106 274, 167 269, 232 298, 180 -7.3 -43.3 -11.9 +7.9 -10.9 +6.1 997, 487 103, 672 1, 101, 159 1, 212, 555 111, 908 1, 324, 463 +21.6 +7.9 +20.3 91.97 91.51 83. 29 92.96 83.72 94.74 84.48 88.71 79.65 82.66 79.74 73.22 89.83 76.19 83.19 79.32 77.13 73.69 77.60 80.16 +1.9 +0.9 +0.1 -0.1 +0.6 +5.5 +4.0 +3.4 +2.6 +3.8 +17.4 187, 848 213, 392 +13. 6 +25.8 +6.3 117, 178 31, 663 92, 022 52, 457 -21.5 +65.7 -92.2 -71.1 17, 587 41, 623 +136. 7 11,378 +118. 6 6,235 +297. 9 6,440 —2.0 +59.8 +82.5 -57.8 84, 795 26, 300 27, 091 68, 495 19, 215 21, 102 -19.2 -26.9 -22.1 293, 663 289, 129 -7.2 -9.0 « 2, 384 « 2, 480 112, 539 -11.5 +10.5 101, 296 2,592 25. 521 -53.9 -85.5 4.225 29,047 ' See table on p. 23 of the May, 1927, issue for earlier data. -1.5 +4.0 +11.1 -12.1 83.52 76.66 28,948 81.23 82.52 76.32 79.32 82.23 103. 50 103. 31 103. 37 103. 62 103. 41 102. 61 102. 87 -0.2 +0.5 104.04 104.84 100. 27 4.08 105. 02 100. 71 3.98 104. 74 100. 67 3.95 101. 80 98. 38 4.14 102. 92 100. 14 4.13 105. 23 100. 38 4.08 99.38 4.12 -0.3 0.0 -0.8 +1.8 +1.3 -4.1 +6.3 79.51 76.10 79.58 (For 1st of following month) 5 Liberty bonds p. ct. of par_. 16 foreign government and city p. ct. of par-Comb, price index, 66 bonds. _p. ct. of par.. Municipal bond yield _ percent Long-term real-estate bonds issued: Grand total, thous. of dolls _ Purpose of issue— Finance construction.. .thous. of dolls.. Real-estate mortgage.. -thous. o,f dolls. _ Acquisitions and improvements thous. of dolls.. Kind of structure — Office and other commercial thous. of dolls.. Hotels . . . .thous. of dolls . Apartments thous of dolls 55, 715 67, 960 48, 798 46, 840 49, 794 50, 370 42, 398 32, 805 8,100 36, 767 17, 480 17, 443 11, 900 11,410 25, 912 13, 937 24, 950 20, 603 +117. 7 13, 110 +22.1 4,150 6,663 14, 700 18, 790 1,470 5,230 22, 475 23, 295 18, 708 925 8,315 2,860 2,775 18, 177 11, 380 16, 525 3,780 65, 999 779 22, 309 2.414 73, 822 861 i 16, 382 i 5. 625 4,660 7,670 GOLD AND SILVER Gold: Domestic receipts at mint fine ounces.. 88, 307 836 Rand output thous of ounces Imports thous. of dolls 17, 004 ExDorts thous. of dolls.. 7.196 1 8 Cumulative Revised. 4,050 11,827 80, 777 840 59, 355 14, 890 9,630 through Mar. 31. 2,720 68, 531 14, 493 9,640 8,925 6,075 58, 229 834 43, 413 5,085 75, 336 803 13, 116 17. 884 TREND OF BUSINESS MOVEMENTS—Continued 1926 The cumulatives shown are through April, except where otherwise noted. Earlier data for items shown here may be found on pages 26 to 134 of the February, 1927, "Survey" GOLD AND SILVER-Continued Silver: ProductionUnited States thous. offineoz__ Canada thous of fine oz Mexico _ _ .... thous. of fine oz Stocks, end of monthUnited States. thous. offineoz__ Canada thous. of fine oz_. Imports thous. of dolls.. Exports thous. of dolls __ Price at New York dolls, per fine oz_. FOREIGN EXCHANGE RATES Europe: England dolls, per £ sterling.. France dolls per franc Italy dolls, per lire-Belgium dolls, per franc.. Netherlands dolls, per guilder. _ Sweden . . ._ dolls, per krone. Switzerland. ._ dolls, per franc. Asia: Japan dolls, per yen.. India dolls, per rupee Americas: Canada dolls, per Canadian doll . Argentina dolls, per gold peso.. Brazil dolls, per milreis . Chile dolls, per paper peso . U. S. FOREIGN TRADE Imports Grand total , thous. of dolls.. By grand divisions: EuropeTotal. _ thous. of dolls.. France _ _ thous. of dolls Germany. .thous. of dolls.. Italy thous. of dolls.. United Kingdom _. .thous. of dolls North AmericaTotal .thous. of dolls.. Canada thous of dolls South America— Total thous of dolls Argentina thous. of dolls.. Asia and OceaniaTotal. thous. of dolls.. Japan _ thous. of dolls Africa, total thous of dolls By class of commodities: Crude materials thous. of dolls.. Foodstuffs, crude, and food animals... thous. of dolls.. Manufactured foodstuffs thous. of dolls. _ Semimanufactures thous of dolls Finished manufactures thous. of dolls.. Exports Grand total, including reexports... . thous. of dolls.. By grand division: EuropeTotal thous of dolls France thous. of dolls.. Germany thous. of dolls Italy thous of dolls United Kingdom thous. of dolls.. North AmericaTotal thous of dolls Canada . thous. of dolls South AmericaTotal- _ thous. of dolls.. Argentina thous of dolls Asia and OceaniaTotal-. thous. of dolls.. Japan _ thous. of dolls.. Africa, total thous. of dolls.. Total domestic exports only thous. of dolls.. By classes of commodities: Crude materials _ thous. of dolls.. Foodstuffs, crude, and food animals thous. of dolls Manufactured foodstuffs... thous. of dolls.. Semimanufactures thous . of dolls _ . Finished manufactures thous, of dolls.. Agricultural exports (quantities) : All commodities index number All commodities except cotton - index number CANADIAN FOREIGN TRADE Total trade: Imports thous. of dolls Exports thous. of dolls Decem- January ber February PER CENT INCREASE (+) OR DECREASE (— ) 1926 1927 March April March April Apr., 1927, from Mar., 1927 CUMULATIVE TOTAL FROM JANUARY 1 THROUGH APRIL 30 Apr., 1927, from Apr., 1926 Per ct. increase ( } or tdecrease (-) cumulative 1927 from 1926 1926 1927 20, 330 6,055 19, 589 6,529 -3.6 +7.8 26, 487 33, 460 17, 147 26, 519 -35.3 -20.7 1, 644, 869 1, 422, 334 -13.5 5,637 1,639 9,352 5,196 1,459 8,559 4,979 1,733 i 5, 104 i 1, 525 4,310 1,812 5,171 1,920 9,192 4,954 1,373 8,839 326 941 4,430 5,610 .535 700 1,300 5,151 7,388 .558 207 391 3,849 6,233 .579 212 1,023 i 4, 308 1 6, 077 .553 602 723 3,839 6,821 .564 395 648 5,539 8,333 .659 336 961 6,322 7,612 .644 4.85 .040 .044 .139 .400 .267 .193 4.85 .040 .043 .139 .400 .267 .193 4.85 .039 .043 .139 .400 .267 .192 4.85 .039 .045 .139 .400 .268 .192 4.86 .039 .050 .139 .400 .268 .192 4.86 .036 .040 .042 .401 .268 .193 4.86 .034 .040 .037 .402 .268 .193 .489 .361 .488 .364 .488 .363 .491 .363 .484 .361 .454 .366 .466 .362 -1.4 -0.6 +3.9 -0.3 .999 .933 .119 .120 .998 .939 .117 .120 .998 .947 .118 .120 .999 .960 .119 .120 1.001 .962 .118 .120 .996 .903 .145 .121 1.000 .908 .140 .121 +0.2 +0.2 -0.8 0.0 +0,1 +5.9 -15.7 -0.8 359, 462 356, 840 310, 877 379, 170 375,447 442, 899 397, 912 -1.0 -5.6 112, 853 14, 595 16, 528 9,648 32,644 100, 619 12, 572 15, 586 9,011 21, 529 91, 399 14, 195 13, 246 6,723 25, 763 113, 474 14,067 16, 367 8,735 33, 860 116, 893 14,497 18, 259 8,959 37, 105 104, 808 11,648 17, 101 7,639 33, 271 8333,001 5 39, 385 5 50, 932 5 24, 288 8 108, 989 6 305, 492 840,834 8 45, 199 8 24, 469 8 81, 152 -8.3 +3.7 -11.3 +0.7 -25.5 81,229 41, 897 72, 396 37, 917 79,946 31,972 90, 934 38, 995 97, 531 40, 343 90,929 38, 434 « 258, 126 8 113, 067 « 243, 276 8 108, 884 -5.8 -3.7 48, 078 5,309 45, 053 7,547 44,087 6,700 47, 437 8,380 63, 591 12, 677 51, 247 8,027 6168,419 s 29, 766 8 136, 577 8 22, 027 -18.9 -26.0 109, 703 35, 155 7,486 128, 253 36, 854 10, 790 88,981 23,264 6,453 115, 668 33, 867 11, 787 153, 247 22,901 11, 638 139, 864 32, 309 11, 115 s 447, 798 6 96, 325 8 39, 615 8 332, 902 693,985 6 29, 030 -25.7 -2.4 —26.7 138,489 153, 157 114, 815 151, 255 153, 039 49, 388 31,809 64, 544 75, 109 44, 089 26, 960 66, 018 66, 887 42,804 39, 794 52, 131 61, 322 43,061 46, 989 64, 597 73, 396 43,046 46, 810 64, 514 68, 038 51, 103 40, 152 75, 202 78, 667 47, 122 i 39, 248 i 70, 475 i 76, 171 465, 369 419, 393 372, 682 408, 844 415, 212 374, 406 i 387, 973 249, 377 27, 773 50, 772 17, 193 104, 578 211, 521 20, 301 40, 258 13, 238 89, 818 174, 827 13, 507 35, 762 9,881 70, 466 187, 335 17, 269 36, 979 10, 317 72, 691 164, 383 24, 000 21, 116 12, 260 67, 941 90, 491 55, 177 88,049 50, 717 87, 250 53,984 101, 061 65, 947 43, 318 14, 116 44, 721 15, 355 31,995 10, 526 73, 821 28, 175 8,046 456, 111 66,045 22, 700 9,670 412, 246 159, 934 -15.6 -13.0 +18.8 +32.0 +184.0 -29.3 -10.9 +12.2 +2.0 +79.2 -24.8 -39.3 -10.4 -12.4 +0.2 0.0 0.0 +14.7 +11.1 +25.0 0.0 0.0 -0.5 0.0 0.0 0.0 -0.5 -7.2 736, 571 572, 266 -22.3 0.0 -8.6 -0.4 +19.3 -0.1 -8.5 -7.3 -10.7 188,969 144, 252 289, 637 285, 441 173,000 160, 553 247, 260 269, 643 -8.5 +11.3 -14.6 -5.6 +7.0 1, 512, 120 1, 616, 131 +6.9 175, 732 21, 924 21, 345 14, 811 70, 614 • 536, 165 675,459 8 68, 833 « 39, 465 5 225, 934 8 573, 683 6 51, 077 8112,999 8 33, 436 8 232, 975 +7.0 -32.3 +64.2 -15.3 +3.1 100, 565 62,450 99, 272 56, 746 6 267, 885 8 155, 831 8 276, 360 6 170, 648 +3.2 +9.5 38, 399 12, 577 35, 412 11, 878 37, 181 10, 878 6 108, 455 « 37, 701 8 115, 115 8 38, 458 +6.1 +2.0 70, 855 22, 395 7,751 364, 625 74, 049 28, 623 8,000 398, 041 404, 843 65, 755 22, 251 8,292 364, 922 66,460 21,000 9,226 379, 299 +1.7 +6.7 8 188, 017 8 64, 233 623,626 1, 477, 774 8 210, 949 « 73, 718 8 25, 421 1, 579, 755 +12.2 +14.8 +7.6 +7.0 122, 501 102, 806 107,412 85, 926 82, 959 i 80, 499 -20.0 +6.7 27,041 47,964 62,643 158,529 24, 406 41, 136 61, 355 162, 848 18, 760 38, 523 53, 196 151, 340 19, 978 37, 187 57, 972 175, 492 31, 514 39, 190 59, 576 188, 637 15, 596 40, 516 53, 527 172, 324 i 14, 569 i 38, 166 i 57, 884 i 188, 181 188 150 130 139 128 87 86 150 140 116 116 140 108 107 74, 707 79, 803 110,617 107, 218 74,298 78,404 100,934 114, 007 67, 801 60,915 81, 775 139, 808 78, 806 ! 85, 266 * Revised. 197, 775 i 164, 896 +1.2 +1.6 366, 698 418, 645 +14.2 +57.7 +116. 3 +5.4* +2.5 +2.8 +2.9 +7.5 +0.2 58, 182 168, 311 211, 177 673, 406 94,658 156,036 232, 099 678, 317 +62.7 -7.3 +9.9 +0.7 -32.8 +9.6 -26.9 +28.7 309, 380 349, 569 338, 428 350, 691 +9.4 +0.3 * Cumulative through Mar. 31. O ,PUBL!C&BK^ publications ^f the e Bep&rtjiaent of ,<^i^e^e:haTO3ii;^€:most direct inf&r^ listed W<?w. L ^^^^*- W^ ^ y ^ v£k|aijl^ ft -i % .W^xLlAw.*^*:^* J-*_u_r e . V,-'. '. .,' A^; ^ ^ ^ _„ , „,..., „ _^ ^_ tipn^injay^Mln^rcfe^lf^nfi^fetiperl ; Washington* a| the price stated/ ^ H- no^tti^i^i^n%ne4>^epiib|ij|aMo^ V *^.' ' "' - ~ - ^ ~ ^ " " " ,,-"-„." - " - % " OFFICE OJ1 THE SgCE^tiff "', "- " ^ - ^ "* ^~ V * * V-T r"^ ^ Air €<wrti&ier<5£ Regulations. 49 lations governing aircraft operationisso^f b^Jhe , branch &f$he I^artoenii <Sf Ootam&reeC '" Progress Sft Elimination of Wiastte* fey pagesC \ This J$4Ki ^traet fm t^e,$e«i^tary of Goiijaa^rce.. ^ ; , -, Radio Service Bulletin, April, ;13i75 Vto0iitb% in the intei^st of radiQ^s ^t^Mpi^ r%tilatioa& and refer^nce^ to^ _ _ Purchased and Preserved, Forest Prod r.^This b^fetin^ j^en0^tre€iafkdlm^ lroad% ^lecteid lig^todjS&%^c^m^ ..--,-,,_,, ... ,-."8 -5-.--,-'C r ^-7-^ ^v-—T • ^tiWs $f Agriculture, "192)5.^3ta& btdletin*jrfof OeoJ^a ocfc-'^ i -.i^_v ji _ i^i,xr , _ j. •„ ^^^Ij^-^^-i _-<•> *_' ^ ^_IT dti^ -.» . 4 t * of Agriculture, 1925—Supplemental DS presenting ^ statistics co^?K*nin^ the iag iited by age* sex. color an<3. ve^^^jtx® p^^k^data^by>teiiies4 Bh^c3 , SfOf Manufactures, 1925, I presents statistics tsqfe^t^pt ' ^ad stores and * ' ^ " £^|p^ OF FOBSEiaN of ~Ffreigfto4£tiiftm 7r Parts I andf f.' *^rfei^<m1jal^ta^ of domestic iiereliaadlse, *$&mt i^cporfe tiy articles £ . conducting > Hawaii: "Ife ^jaofflrc^s and l^ade^ b Trade Information BuBetiii No, 47%^ ' v " " " Foreign Markets for Miscellaneous Leather Goods.—Trade ^j^ery brldf reports ^b^'^ve^s C^paa^i^ts dt Cbmmerce.and State. > j announcement an d erin «-•»-•> •" r j~*. . u -* * •*«" C;!r- ::^:c^lfy^a^j^|:|^^^ife/{^ V\;-^ ":r;-ce^««: ^^H^ite^^^^^^^^''-'"-^ v OF COMMERCE Commerce Solicitor icensing n of aecV ^rts; ;fostfesag t^.air , ki 1iefoaaBties| jteel disseinina- ^ - B^se^rc^oii iieliiini and qperalabn olplanta producing it. Studies in ;t&e economics jwxd maf ketlng jof mii^rals and <«>lr leefiofi-ef statistics on mineral resotircei and^mine accidents. ^le^lss^ianatlon of results of teeimieal ^nd economic researches ^ia bulletins, 1«ehni0al papers, mineral .re cureiilfes, and miscellaneous publieatknas. OF FISHERIES Commissioner and <^rfbaiioa of food fish and pretint^he (Jeple^oa of the^fisherie^ iaTes|igation§ sonservatioii. of fisfeery ^esojaraes; the developuaent of ^on£plerdlal fialeries and agricultute? study of tf^hary mei^odB;" feoaprqy^ttetits in taeJehandismg ^nd 4<dle^Moa of feherjr f f a^sMcij[ admiiiistTaiacm"^ ot Alaska fisheries and far seala; and the protection of sponges off the ©dast of Slorida, , to \; JL P0i!NjbM, ComtnissioBer " .: Maintenance of JightEouses aad othet to prater navigation. Estat>3ishment and maiiitenance light Bists,. Buoy List?, and :p$foes to Mariar<fisg these, ^d« to navigation. IC^AST AND <JEOBEflG ^^tey ©f:^£^ coasts of the United ^feites and publication df charts for^ilie^nam^tion t>f.41e swiiaee^t ^waters, iiicluding Ma&a,-tlie Jhfiippine Inlands, Hawaii, Borto Bieo, thV Vlr^ii " S tte (^nal^one; interior, ebntrol «uTvey45; magj 1^e and curr^it observations; and tfeniof results through eharts, special pubHcatlonsi eoB^ a prdduets ^1foB|i^ #duitteade 4(S^!^%et% and. throi^^e^ uIa^, &$'&& ,^de tables, OF NAVIGATION , Commissioner. : of .registering, enrolling:, HcenWSr, numbering, si un(fep,the IJnited ^ates flag, aad the annuft , a list of such vessels. .-* : Enforcement of: ihe aayigatiofi andv steamboat inspection s,fines,ionn%b ta^es, etc. . and INSPECTION SERVICE :^T^NDA*l>S-x;r.^ teegipssi? N.^oovBBjSu^vimaglasj^etQr Gjefieral , 3$fe in^ecti&ti ojf merchant vessels, !acludisg: boilers, hulls, and life-saving equipment, Mgeasiag^of officers of vessels, certification of able seamen and lifeboat men, and the investigation of yiolaU^s of steamboat inspeetion fewa, ^ V'- . : - ^ ^^f^Rl «t»l«8K Ult UU$kUCJtl2%.l.iS CfcliVl:-J*l \J\jVZSKKsiSy ^•ttBtt'jEBd'tf^pteat b^tes f^orta%,t@siflls-rf;t^i^[f[^ ?^fu^Kdaeatal1«elS^efi^^,r < C ^.fdr <3@* v n C v x , -" " N-J-^. it: ^ " v -4(tticariba' ^ "\ 1 *"Jil. - * *. ' llUliED SPATES PATENT 0FKLCE «*l-ltC ^#« Ml*^^»ViVU,.AZJl 4 in oo "«••"-- ^ 3Sie^antlnf of pi^nts and!the,Tegisti:atioa of trade-marks, ^prmts; aindJabefa afte? technieal exananatioii ana judicial prov ceedings. ; ;. MitetfinaBc0;0f library 3«dth^ pubUc search rooni^ containing copef ol^ foreign *&& IJhited States patents lad tr^dermarks, Recording bills of sale, assignments, etc., relating to patents l£nd trade-marks. ^ Furnishing copies ol records ^rtainiag 4c -patea^. .:^ ^ ~ ^ ' _ ," C - .^^ ^ - i - .- ,; 'i FutKca^oa 6f t^ie weekly Official Gazette, sMwing the patents and trade-marks issued. ~ - /- - r htazards * ^ - RAMO W. p*^BBBM*, Chief -;"v !. stations oa s^ps; inspection of ra^b &$ations on shorer including broadcasting stations; licenaing radi( statioa ,7— -^^.and settficg international radio accounts.