Full text of Survey of Current Business : June 1952

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JUNE 1952

U. S. DEPARTMENT OF COMMERCE
OFFICE OF BUSINESS ECONOMICS

SURVEY

OF CUItHENT

BUSINESS

No. 6

J U N E 1952

PAGE

THE BUSINESS SITUATION
Trends in Manufacturers' Orders
Plant and Equipment Demand at Record Rate in Third
Quarter
Balance of Payments Trends in the First Quarter of
1952

1
3
6
9

The Business Population
*

13
^

*

SPECIAL ARTICLES
Distribution of National Income Pattern of Income
Shares Since 1929
*

if

16

*

MONTHLY BUSINESS STATISTICS . . . . S-l to S-40
New or Revised Statistical Series
24
Statistical Index
Inside Back Cover

Published by the U. S. Department of Commerce, C H A R L E S S A W Y E R ,
Secretary. Office of Business Economics, M. JOSEPH M E E H A N ,
Director. Subscription price, including weekly statistical supplement, is
$3.25 a year; Foreign, $4.25 Single copy, 30 cents. Send remittances to
any Department of Commerce Field Office or to the Superintendent of Documents, United States Government Printing Office, Washington 25, D. C.
Special subscription arrangements, including changes of address, should be
made directly with the Superintendent of Documents. Make checks payable
to Treasurer of the United States.




DEPARTMENT OF C O M M E R C E
FIELD SERVICE
Albuquerque* N. Mex.
204 S. 10th Sts

Memphis 3, Tenn.
229 Federal Bid*.

Atlanta 3, Ga.
86 Forsyth St. NW.

Miami 32, Fla.
36 NE. First St.

Baltimore 2, Md.
200 £. Lexington St.

Milwaukee 2, Wis.
207 E. Michigan St.

Boston 9. Ma8«.
40 Broad St.

Minneapolis 2. Minn.
607 Marquette Ave.

Buffalo 3, N. Y.
117 Ellicott St.

Mobile 10, Ala.
109-13 St. Joseph St.

Bntte, Mont.
306 Federal Bldf.

New Orleans 12, La.
333 St. Charles Ave.

Charleston 4, S. C.
Area 2,
Sergeant Jasper BIdg.

New York 36, N. Y.
2 West 43d St.

Cheyenne, Wyo.
308 Federal Office Bldg.

Oklahoma City 2, Okla.
114 N. Broadway

Chicago 1, III.
221 N. LaSalle St.

Omaha, Nebr.
403 So. 15th St.

Cincinnati 2, Ohio
105 W. Fourth St.

Philadelphia 7, Pa.
1015 Chestnut St.

Cleveland 14, Ohio
925 Euclid Av«.

Phoenix, Ariz.
311 N. Central Ave.

Dallas 2, Tex.
1114 Commerce St.

Pittsburgh 22, Pa.
717 Liberty Ave.

Denver 2, Colo.
142 New Custom House

Portland 4. Oreg.
520 SW. Morrison St.

Detroit 26, Mich.
1214 Griswold St.

Providence 3, R. I.
327 Post Office Annex

El Paso, Tex.
Chamber of Commerce
Bldg.

Reno, Nev.
1479 Wells Ave.

Hartford 1, Conn.
135 High St.

Richmond, Ya.
400 East Main St.

Houston 2, Tex.
1018 Preston Ave.

St. Louie 1, Mo.
1114 Market St.

Jacksonville 1, Fla.
311 W. Monroe St.

Salt Lake City 1, Utah
109 W. Second St., So.

Kansas City 6, Mo.
903 McGee St.

San Francisco 2, Calif.
870 Market St.

Los Angeles 15, Calif.
112 West 9th St6

Savannah, Ga.
125-29 Bull St.

Louisville 2, Ky.
631 Federal Bid*

Seattle 4, Wash.
123 U. S. Court House

For local telephone listing, consult section
devoted to U. S. Government

JUNE 1952

Defense Department
Expenditures

THE

Spending scheduled to rise by one-fifth
during fiscal 1953
Billions of Dollars
60 —

SITUATION
—
**nw

—

By the Office of Business Economics

•^
A II Miiit< iry 5urpos 5S
—

j

- i

1

—

III

Aircraft and other major hard goods to
account for the rise
30 ~

—

Other Major Military
Equipment

20 —

with other items remaining stable
30

20 —

10

Military Pay, Food,
and Clothing

1951

Employment high and rising seasonally

JULY-

JAN.-

DEC.

JUNE

1952*

HALF-YEARLY TOTALS, AT ANNUAL RATES
* BASED UPON BUDGET REQUESTS
U. S. DEPARTMENT OF DEFENSE AND U. S. DEPARTMENT OF COMMERCE,
OFFICE OF BUSINESS ECONOMICS




Defense and investment pace rise
Defense expenditures in April and May were at an annual
rate $4 billion above that of the opening quarter of the year.
The latest survey of plant and equipment outlays summarized in this issue reveals that business expects the strong
trend in fixed investment to continue through the third
quarter. The volume of residential construction continues
high, and the easing of purchase terms under Regulation X
is another of a series of Government steps designed to ease
or eliminate restrictions where that is possible.
Manufacturers' orders backlogs continue on a high plateau,
notwithstanding the gradual rise in output of producers'
durables and military goods, the major source of backlog
orders. The recent stability in this important business indicator is pictured in the new series of data plotted on the
chart on page 4.
With consumer purchases of goods and services relatively
stable and the flow of personal income little changed, personal saving remains above the postwar average.

10 —

1950

lATIONAL output has continued its moderate expansion in the second quarter of the year, with the defense
program accounting for most of the rise. Private fixed
capital investment remains strong. Consumer expenditures have risen slightly, with current dollar totals approximating the postwar high, but volume is still under the top
reached in early 1951.
The major reductions in retail sales volume from early
1951 continue to be in the consumer durable goods, and
recent changes in sales of these products reveal the absence
of any marked shift. Consumer purchases of durable goods
have been very stable at a $25 billion annual rate for over a
year—down one-fifth from the peak reached in the buying
wave of the first quarter of 1951.

1953*

Total civilian employment in May rose to 61.2 million
and unemployment remained at the postwar low of 1.6
million. The expansion of 1 million in employment over
April conformed to the pattern characteristic of this
season of the year. The additional workers were added in
roughly equal amounts to farm and nonfarm employment.
In manufacturing, employment declined some as it normally

SUEVEY OF CURRENT BUSINESS
does in May, but the decline in the durable goods industries
was somewhat smaller than usual because of rising defense
output.

Deliveries of munitions expand
Production of military hard goods has expanded greatly
since the late months of 1950, and the first half of 1952 marks
an acceleration period in volume deliveries of aircraft,
tanks, and other long-lead-time items. Hard goods procurement by the Defense Department in the first quarter
of 1952 amounted to almost $20 billion at annual rates
(inclusive of major hard goods, spare parts, and other
small items), one-third above the rate of the previous
quarter. A further sharp increase has occurred more
recently.
On the basis of budget requests submitted to Congress
last January, Defense Department outlays for major hard
goods procurement and production are scheduled to rise
by more than two-thirds from the first half of 1952 to the
first half of 1953, as illustrated in the chart on page 1. This
scheduled rise is, of course, subject to Congressional action
providing the necessary funds in the budget which is under
consideration at this time. It also assumes the meeting of
schedules, but these have recently undergone adjustment
on the basis of the status of production.
Notwithstanding these provisos, the rise indicates the
general trend of deliveries over the course of the next year,
based on current military production plans. It shows the
pattern ahead which will continue to exercise a major
influence on business trends.
The hard goods expenditures shown in this chart (it
excludes military construction, spare parts, and foreign
military aid), reflect both value put in place on undelivered
goods and purchases of completed equipment.
The progress in military hard goods procurement scheduled
for the next 12 months is based upon Defense Department
estimates of spending, exclusive of foreign military aid, during fiscal year 1953 of $52 billion. Of this total, $23 billion
represents expenditures for major hard goods procurement
and production, about double the total for such purposes in
fiscal year 1952, and more than five times the fiscal year 1951
outlay.
This $11 billion rise in expenditures for hard goods accounts for almost nine-tenths of the estimated increase in
total Defense Department spending between fiscal years 1952
and 1953. Aircraft outlays, rising from $3 billion for the
period January-June 1952 to about $6 billion during the comparable period 1953, account for almost half of the rise in
hard goods purchases.

Military pay and subsistence change moderate
The recent armed forces pay increase will raise this item,
but the aggregate of the pay, food, and clothing expenditures
of the uniformed personnel are expected to rise only moderately during fiscal year 1953. With the size of the armed
forces now relatively stable, after increasing from 1.5 million
to over 3.5 million during the past two years, some reduction
in purchases of clothing and certain other soft goods is possible. Other expenses of the Defense Department (including
military construction, spare parts, fuel, civilian pay rolls, and
purchases of travel, medical, and other services) are expected
to remain relatively stable during fiscal year 1953.

Inventory trends in 1952
Total business inventories showed their first appreciable
increase of the year in April, on a seasonally adjusted basis,
following the slight increase in March. This one month's



June 1952

movement is not sufficient to indicate a trend, and, while
there is some slight evidence of a spring pick-up in business
orders, on the whole the conservative attitude toward inventories and forward buying which has characterized business
over the past year continued through May.
The steady decline in the rate of nonfarm inventory accumulation during most of 1951, from the peak annual rate
of $14 billion in the second quarter of last year to a moderate
liquidation early this year, was important in the lessening of
inflationary pressures. In March continued increases in
inventories held by durable goods producers were about offset by declines in retail trade stocks, particularly in the
durable goods groups. In April, however, total inventories declined by less than the amount that is usual in this
month.
The prolonged decline in trade inventories, while those of
manufacturers were rising, emphasizes the fact that the
adjustments have largely taken place in industries making
goods destined primarily for consumers. Further evidence
of this is that the decline in trade inventories in the last nine
months of 1951 had been quite pervasive with stocks shrinking in most major groups. Since the end of 1951, the decline
has been virtually halted.
During the first 4 months of the year, manufacturers added
still further to their inventories although at a much slower
rate than during 1951. Most of the addition occurred in the
durable goods industries, especially those closely identified
with the production of defense goods. Producers of nondurable goods effected some liquidation of stocks in terms of
book value but after allowing for the greater weakness of the
prices of their products than of the durables, the change in
real stocks was small.
In the first 4 months of this year, manufacturers of
products destined primarily for producers and for defense
uses added almost $800 million to their stocks in terms of
book values. The bulk of these added stocks occurred in
the metals, machinery, and transportation equipment other
than motor-vehicles industries.
During this same period, stocks of goods held by manufacturers, wholesale and retail merchants destined primarily
for personal consumption fell about $700 million in book
value. Most of this drop was accounted for by liquidation of
textiles, apparel, leather products, and homefurnishings.
Manufacturers' and merchants' stocks of a third group of
products going in substantial quantities both to producer
and defense uses and to personal consumption rose by $200
million in book value at annual rate; this group includes such
items as motor vehicles and equipment, rubber, paper, chemical, petroleum, and coal products.
Changes in manufacturers' unadjusted stocks by stages of
fabrication between the end of December and April 30, in
terms of book values were as follows:
[Millions of dollars]

Total
All manufacturers, total
Durable goods industries
Nondurable goods industries.

696

1,204
-509

Purchased
materials

Goods-inprocess

-767
-358
-409

1, 034
1, 009
25

Finished
goods

429
554

-125

The accumulation of finished goods inventories was particularly marked in manufacturers of durable goods and was
concentrated chiefly in the industries closely allied to defense
production.
The largest change occurred in goods-in-process as producers stepped up activity for the new selling season. Since,
however, the increase was particularly marked in industries
closely associated with defense work, it indicates a rise in the
scale of productive operations.

SURVEY OF CURRENT BUSINESS

June 1952

Trends in

Manufacturers' Orders
OPRING ordering of manufactured goods—especially producers7 and defense materials—has held backlogs on the high
plateau maintained since last fall. Expansion of durablegoods backlogs has offset a contraction in unfilled orders for
nondurables. At the end of April unfilled orders for durables—which account for the great bulk of such orders—represented about 6 months of sales or about three times the
pre-World War II and the pre-Korean averages.

New data 1939-45
As another step in its program for investigating the interrelations of orders and production, the Office of Business
Economics has compiled monthly estimates of manufacturers'
new and unfilled orders for the period 1939-45 comparable to
the series starting with 1946.*
Unadjusted aggregates for all manufacturing and for durable-goods and nondurable-goods industries based upon the
same definitions, concepts, and estimating techniques as
current data are presented in table 1. Work is continuing on
the derivation of industry detail and on the adjustment of
the data for seasonal factors and for the effects of fluctuations
in prices. This material will permit analyses of the interrelations between movements in orders, production, and
sales over the 13-year period.
New orders in the Office of Business Economics series are
defined as commitments to buy received and accepted by a
company involving either the immediate or future delivery of
goods. The reported orders are net of cancellations and are
stated in dollars. They are distinguished from sales which
involve the transfer of title to the goods from the company to
the purchaser at the time of billing or of shipment. Orders
which are not filled or canceled during a month are added to
unfilled orders or backlogs.
Backlogs of outstanding orders are usually characteristic
of durable-goods industries. Among nondurable-goods industries the bulk of new orders are customarily filled from
stock immediately upon receipt. In four nondurable-goods
industries—textiles,
leather, paper, and printing and publish;
;ug—forward commitments, however, form an important part
f total commitments. Estimates of backlogs for the nonArable goods group cover only these industries.
The current high volume of orders on producers' books is
the result of a substantial build up which has occurred since
June 1950. This is the third such accumulation since 1939.
Placed in historical perspective in the chart, the advance after
the outbreak in Korea in unfilled orders is seen to bear a
striking resemblance to the 1941-43 experience. The chart
describes the trends for the durable-goods industries since the
pattern of backlog movements is dominated by the durables.
i For a description of the series and a discussion of the theoretical implications and problems
in using orders data as indicators of shifts in industrial activity see "An Approach to Orders
Analysis" in the December 1949 issue of the SURVEY OF CURRENT BUSINESS.




Developments since mid-1950
The world events of June 1950 led to a sharply accelerated
flow of new business to producers. Superimposed on expanding consumer and producer civilian demand were the requirements of the defense program. The value of unfilled orders
rose rapidly until the summer of 1951. Since then backlogs
have remained very high, fluctuating from month to month
around a total of $63 billion. Some tendency to edge
upward has been shown in the 1952 spring quarter.
During the initial phases of both defense periods, i. e.,
1942 and 1951, the same phenomenon emerged—the continued advance in unfilled orders in the face of declining new
orders. The explanation lies, of course, in the magnitude and
nature of the orders being received.
The considerable and persistent decline in new orders from
early in 1951 to late summer—a period of expanding backlogs—produced only a moderate reaction in sales and an even
gentler easing in the rate of production. The downturn in
new orders for manufacturing as a whole led the shift in
factory production by about two months and sales (when
allowance is made for seasonal factors) by four months.
With the pick-up in fall ordering production stabilized and
sales 2moved up as inventory accumulation eased in many
areas.

Consumer demand eased in 1951
That the decline in new orders last spring was followed by
even a moderate drop in sales, whereas a similar movement in
1942 was not, reflects differences in the areas in which there
was a lessening of orders. Last year the decline in demand
from trade sources centered in consumer goods—both durable
and nondurable—where the lead time of orders over production and sales, especially for nondurables, is relatively short.
Inasmuch as the flow of deliveries on defense contracts had
not reached a volume sufficient to offset the decrease in consumer shipments, a dip in sales occured.
Weakness in the consumer soft goods markets resulted in
a decline of backlogs in these lines from March 1951 forward.
New orders and production both for the industries for which
unfilled orders estimates are compiled and for all nondurables
had reached peak rates 6 to 8 weeks earlier. Deliveries
have continued to exceed new orders for nondurables until
the present time, though the rate of decline in unfilled orders
has slowed in recent months.
Backlogs held by durable-goods producers have expanded
each month since the Korean fighting began. Orders for
durables were affected by the easing in demand for certain
types of consumer goods and also by curtailments of scarce
materials for " nonessential" products. More important in
2 The dips in reported new orders figures in September and December reflect the sizable
cancellations on order books stemming from Controlled Materials Plan requirements rather
than from a basic decline in demand.

SUEVEY OF CUEEENT BUSINESS
recent months in the flattening
out of backlogs in the heavy
industries is that producers7 orders for equipment and for
plant as well as for inventory building appear to have passed
peak phases.

June 1952

Recent changes
In April backlogs of durable-goods producers advanced
$250 million. Changes for major industries during the month
continued trends which have emerged since the winter. For
some major durable-goods industries unfilled orders remain
high but they are leveling off as the crest of the pressure of
demand on available supplies appears to have passed. For
others, backlogs are still accumulating. Within each group,
of course, there are companies or groups of companies with a
market position very much stronger or weaker than the
average of the industry group.

Defense contracts currently half of backlogs
Business from the third major source of durable-goods
demand—the defense program—also eased during the second
half of 1951. The value of contracts let in the last six
months was only about two-thirds as large as in the first
half. For the first quarter of 1952 defense contracts equaled
or exceeded the first quarter of last year. The backbone of
manufacturers' unfilled orders is now made up by defense
contracts and goods needed for the capital formation boom
which is at a peak. At the end of the first quarter of 1952
defense commitments accounted for nearly half of the value
of backlogs in contrast to one-fourth a year ago. These
estimates are based upon prime contracts only with no
allowance for subcontracts which are included in the overall
backlog figures.

The primary and fabricated metal and nonelectrical machinery industries are illustrative of those areas where backlogs are no longer accumulating appreciably. For the two
metals industries, backlogs are at year-ago levels with recent
movements showing a downward drift from summer highs.
For nonelectrical machinery producers unfilled orders are
currently well above year-ago totals, but spring deliveries
have more than kept pace with the flow of new orders.

Order Backlogs for Durable Goods Continue at Postwar Peak
Unfilled orders and sales in recent months have shown only small changes. ..
70

70

60

60
Unfilled Orders
(End of Qtr.)

50

50
Unfilled Orders

J
i 40
*o

(End of Month)

s:o

40
30

| 3°
Sales

20

20

(Total for Month)

10

10

0

0

with the result that ratio of backlogs to sales has held steady at a
peacetime high of 6 months
20

20

Ratio of Unfilled Orders to Sales

o

O

•*:

£

10 '•§

10

+~~'

0

^~^^x

rrrtrf . 1 , , , 1 , , , 1 , , , 1 , , i 1 , , 71 , , 1 1 1 1 nTrtTrr
1939 40

41

U. S. DEPARTMENT OF COMMERCE,




42

43

44

45

OFFICE OF BUSINESS ECONOMICS

46

47

48

49

TlTiTPTiTi i i l l i i t 1 1 1 1 1 1 1 i i i i i IM i 1 1

1950

1951

1952

June 1952

SUKVEY OF CUEEENT BUSINESS

Eatios of unfilled orders to sales for these three groups average between 4.5 and 5.0 months.

Table 1.—Manufacturers' New and Unfilled Orders, 1939-45
[Millions of dollars]

Electrical machinery backlogs still advancing
Backlogs are still moving up to new highs in two areas—•
electrical machinery and equipment and transportation
equipment. For electrical machinery producers unfilled
orders currently total $8.5 billion—exceeding the World
War II peak by $2.5 billion—although prices are higher.
This is the only major industry to set such a record.
This spring unfilled orders of electrical machinery producers have expanded considerably in each of the three major
sectors of the industry. Companies engaged primarily in the
production of generating, transmission, distribution and industrial apparatus have shown the largest relative advances.
Sizable gains in orders—both new and unfilled—have also
been recorded by producers of communications equipment
and related products including radios, televisions, telephone
and telegraph equipment. Other electrical equipment manufacturers7 backlogs held relatively unchanged during the first
quarter but expanded in April. Sales of the communications
equipment group in the first quarter were below year-ago
totals while billings for the other two groups were a little
above.
Last year, in spite of the underlying strength of demand
for products of the industry, an easing of orders in the late
spring was reflected immediately in a contraction in sales.
The orders data provided no warning of the turn in sales
partially because the easing of demand occurred in consumer
items normally shipped from stock. Further, the actual
turning point in the volume of consumer contracts was
obscured by the rising trend of defense business. A special
tabulation of the sales of the three segments of the industry
indicates that the drop in billings was concentrated largely
in the radjo and communication group. Evidence available
from other sources corroborates that these were the types of
electrical goods for which markets weakened.
Indications are that the late fall and winter pick-up in
these consumer items has again tapered. However, the
broadening flow of deliveries on producer and defense contracts provides a counterbalancing force of considerably
greater strength than a year ago.

Largest backlog in transportation equipment
The amount of outstanding orders for transportation equipment continues to advance but the rate of increase has slowed
since the first of the year. End of April backlogs of $22.4
billion represented almost 10 months of sales. This is less
than half the ratio of backlogs to sales at the peak of World
War II in this industry. The ratio has for the group as a
whole edged downward since December as deliveries have
Accelerated. For aircraft the ratio is very much higher and
has remained relatively stable.
Variations in the rates of new orders received by the industry under conditions of continued advances in backlogs
and high ratios of unfilled orders to sales have apparently had
little effect on sales trends. In the first half of last year new
orders fluctuated around peak levels and then from July on
averaged some 25 percent lower. Yet the value of shipments
remained relatively steady throughout last year and has
edged upward further this year.




Unfilled orders'

New orders

All Man- Durable- NonduMan- Durable- Nondurablerable- Allufacgoods in- goods
ufacgoods in- goods
inindustries dustries
turing
turing
dustries dustries

Year and month

1939: January
February.
March_
April
May
June.
July
August
September
October
November
December

2,478
2,296
2,810
2,532
2,660
2,912
2,806
2,691
4,771
3,994
3,291
2,705

1,739
1,607
2,057
1,843
1,914
2,051
2,101
1,891
3,336
2,990
2,501
1,997

740
689
752
689
746
861
705
799
1,435
1,004
790
708

4,302
4,349
4,503

1940: January
February.
March
April
May
June
July.
August. _
September
October
November
December

2,858
2,797
2,777
3,300
3,817
3,976
3,779
3,929
7,073
6,050
5,352
5,806

2,047
2,107
2,011
2,416
3,004
3,021
3,072
3,006
5,868
4,757
4,352
4,828

811
690
766
884
813
955
706
923
1,205
1,293
1,000
978

6,893
6,789

1941: January
February
March
April.
May_
June
July...
August..
September
October
November
December

5,603
5,368
5,920
5,768
6,954
8,771
7,689
5,902
6,964
6,076
6,056
8,034

4,414
4,256
4,676
4,394
5,493
7,502
6,248
4,637
5,774
4,844
4,692
6,926

1942: January
February
March __
April...
May
June..
July...
August
September
October
November
December

9,349
10, 889
12, 046
10,311
9,221
11, 350
7, 9o2
9,259
9,239
8,203
9,076
6,316

____

_ _ -

1943: January
February,
March
April
May
June
July
August
September
October
November
December
1944: January
February
March.
April. ._
May
June
July...
August
September
October
November
December
1945: January
February
March
April __
May.
June
July
August
September
October
November
December

_ _

..

_

4,561

4,723

5, 020
5,461

5,380
7,067
7,598
7,564

7,019

3,220
3,270
3,454
3,505
3,617

3,792
4,234
4,208
5,428
5,982
6,084
5,726
5,600
5,595
5,363
5,482

1,081
1,078
1,049
1,056
1,106
1,228
1,227
1,172
1,639
1,616
1,480
1,294

9,174

6,869
7,756
8,403

13, 316
15, 201
16, 676
18, 373

11, 686
13, 371
14, 818
16, 536

1,294
1,194
1,157
1,261
1, 304
1, 514
1,418.
1, 39£
1, 629'
1,830*
l,85a
1, 836-

1,189
1,112
1,244
1,374
1,461
1,269
1,442
1,265
1,190
1,232
1,364
1,108

19, 984
21, 367
22, 822
23, 913
25, 940
29, 709
32, 346
33, 146
34, 644
34, 916

17, 928
19, 153
20, 415
21, 228
22, 888
26, 478
28, 847
29, 652
31, 258
31, 693
32, 410
34, 772

2,057
2, 214
2,407
2,685
3,052
3,281
3,499
3,493
3,387
3,223
3,352
3,175

7,987
9,538
10, 635
8,175
8,071
10, 207
6,878
8,196
7,699
6,580
7,620
4,989

1,362
1,352
1,412
2,136
1,150
1,143
1,074
1,063
1,540
1,623
1,456
1,327

41, 758
47, 162
53, 167
57, 261
60, 344
65, 331
66, 779
69, 326
71, 493
72, 265
74, 330
72, 929

38, 538
43, 881
49, 859
53, 238
56, 465
61, 617
66, 132
68, 126
68, 742
70, 693
69, 377

63,317

3,220
3,281
3,308
4,022
3,878
3,714
3,462
3,194
3,368
3,523
3,637
3,552

7,504
7,375
7,752
10, 273
5,866
9,453
8,539
9,016
7,814
6,560
8,645
9,965

6,173
5,895
6,120
8,473
4,203
8,089
7,281
7,569
6,376
5,171
7,064
8,822

1,332
1,481
1,632
1,800
1,662
1,364
1,258
1,448
1,438
1,389
1,580
1,143

73, 030
72, 584
71, 716
73, 650
71, 306
72, 278
72, 503
72, 848
72, 337
70, 257
70, 291
71, 534

69, 554
69, 060
68, 135
69, 769
67, 205
68, 333
68, 716
69, 089
68, 635
66, 700
66, 665
68, 260

3,477
3,524
3,5£0
3,881
4,101
3,945
3,788
3,759
3,702
3,557
3,626
3,274

7,949
5,278
7,586
7,281
8,232
7,426
7,649
7,903
7,083
5,794
6,654
5,037

6,473
3,790
5,874
5,642
6,592
5,759
6,444
6,685
5,465
4,273
4,972
3,698

1,476
1,489
1,711
1,639
1,640
1,667
1,205
1,218
1,619
1,522
1,682
1,338

71, 035
67, 597
65, 797
64, 223
63, 309
61, 571
60, 940
59, 654
58, 030
54, 818
52, 720
49, 027

67, 750
64, 332
62, 459
60, 750
59, 749
57, 943
57, 408
56, 479
54, 776
51, 662
49, 464
45, 885

3,284
3,265
3,338
3,473
3,560
3,628
3,532
3,175
3,253
3,156
3,256
3,142

9,897
10, 756
8,970
7,933
5,972
4,465
5,777
2-10, 085
' 3,459
5,935
6,298
6,809

8,044
9,030
7,462
6,339
4,394
2,878
4,502
2
-ll,401
2,052
4,202
4,596
5,230

1,853
1,726
1,508
1,594
1,578
1,587
1,276
1,316
1,407
1,734
1,703
1,580

50, 110
52, 019
51, 262
49, 943
46, 538
42, 117
40, 181
23, 152
20, 801
20, 501
20, 792
20, 927

46, 663
48, 410
47, 848
46, 575
43, 268
38, 944
37, 136
20, 328
18, 064
17, 739
17, 928
17, 990

3,448
3,609
3,415
3,368
3,271
3,173
3,045
2,824
2,738
2,761
2,864
2,936

6,519

6,743
7,443
8,383
9,802

35,763
37, 947

6,139

1 As of end of month. Defense orders of motor vehicle producers are not included in these
estimates.
2 Net cancellations.
Source: U. S. Department of Commerce, Office of Business Economics.

SUEVEY OF CUEEENT BUSINESS

June 1952

Plant and Equipment
Demand at Record Rate in Third Quarter
E:jXPENDITURES on new plant and equipment are
expected to continue upward through the third quarter of
this year, according to the latest Office of Business Economics-Securities and Exchange Commission survey conducted in May. Reports submitted during May indicate that
nonagricultural business has scheduled additions to productive capacity at a record $25 billion (at seasonally adjusted annual rates) in the third quarter—as against somewhat under $24.5 billion in each of the first two quarters of
1952.
The current survey shows actual first quarter outlays
appreciably lower—and preliminary second quarter expenditures higher—than anticipated by businessmen three
months earlier. The downward adjustment in the first
quarter reflects a systematic tendency for anticipatory data
to be overstated in this period, partly due to inadequate
allowance for the seasonal influences which usually slow
work in the winter.

defense facilities expansion programs in these sectors.
Third quarter spending programs of the nonrail transport
group are essentially at year end 1951 seasonally adjusted
rates, with higher expected outlays by the airlines offset
by lower anticipated expenditures by water transportation
and transit companies.

Plant and Equipment
Programs
Expansion during 1952 strongest in
electric power, petroleum, and chemicals
I 4th qtr. 19511 3rd qtr. 1952*

[x^Xxl 2nd qtr. 1950
[vXv] 4th qtr. 1951

Changing industrial pattern
As can be seen in the chart, the cur^nt rise in capital
outlays is attributable primarily to electric power, petroleum,
chemicals and rubber, with programs of most other major
industrial groups showing relative stability during the first
three quarters of this year. This is a significant shift from
the earlier post-Korean period when substantial expansion
occurred over a broad industrial front.
Most striking is the slackened pace in the metals manufacturing group—the sector expanding the most in late
1950 and 1951—and the sizable cutback in investment in
nondefense manufacturing areas. In this comparison, it
should be noted, capital goods prices have been relatively
stable since the end of 1951, but rose about one-sixth during
the earlier post-Korean period.
After allowance for seasonal factors, scheduled third
quarter capital outlays by electric power companies are more
than one-fourth higher than in the final quarter of 1951.
This is obscured in the chart by the inclusion of gas utilities
with outlays currently somewhat below end of 1951 rates.
The applications for certificates of necessity by electric
companies have been receiving special emphasis—and
approvals in the seven weeks ending April 15 have amounted
to $1.2 billions, or over 30 percent of all grants in this
period.
An additonal one-fifth of these approved certificates were
almost equally divided between oil and chemical companies.
In the former industry, the major part of the new certificates
was for pipeline expansion—although increases in refining
capacity account for the bulk of all certificates held by oil
companies.
The leveling out in capital goods demand by the metals
producing and fabricating industries as a group—and by the
railroads—in good part reflects the advanced stage of the



-25
I

0

Percentage Change
+25
+50
1

+75

1

Petroleum, chemicals/
and rubber mfg.

Electric and gas
utilities

Mining

Metal producing and
fabricating

::M7.9X{

Transportation

Commercial and
miscellaneous

Other manufacturing
* ANTICIPATED
|

U, S. DEPARTMENT OF COMMERCE. OFFICE OF BUSINESS ECONOMICS

52-97

SURVEY OF, CURRENT BUSINESS

June 1952

Nondefense related industries firmer
Although third quarter capital outlays by the nondefense
manufacturing group is expected to be considerably lower
than in the latter part of last year, the decline is not so
sharp as that indicated by these industries 3 months ago.
This firming of demand in nondefense areas is even more
noticeable among the commercial and miscellaneous industries where planned plant and equipment outlays in the
second and third quarters show maintenance of first quarter
rates. It should also be noted that first quarter capital
programs were fully realized only by the commercial and
miscellaneous and nondefense related manufacturing groups;

manufacturing shows that the larger firms account for the
expected increases in capital goods expenditures. This is
generally found to be true within industries, with the larger
companies in expanding industries expecting relatively greater
increases in investment—and, in declining investment industries, relatively less cutback—than do the smaller firms.
However, reflecting the greater incidence of smaller companies in nondefense industries and the firming tendencies
in this sector (noted above), only the small-size groups of
firms fully realized their first quarter programs. These
groups also increased their second quarter plans, as compared
to the survey conducted 3 months earlier, relatively more
than did the larger companies.

Manufacturers expect record outlays

Railroad investment strong

Manufacturers anticipate purchasing new plant and
equipment at a seasonally adjusted annual rate of almost
$12.5 billion in the third quarter—continuing the moderate
increases noted since mid-1951. Investments by both durable and nondurable producers are expected to reach record
rates in the second quarter. In the third quarter, however,
a further planned increase in expenditures by soft goods
producers is in large part offset by a scheduled reduction
by the durable goods group.
Among durable goods producers, the third quarter programs of nonferrous metals and automobile companies are
the only ones showing substantial increases over current rates.
Examination of the survey results by size of firm within

Capital outlays by the railroads reached a seasonally
adjusted annual rate of about $1.6 billion in the second
quarter of 1951. This record rate of fixed investment is
expected to be maintained through the third quarter of
this year.
Within this total, however, construction outlays are expected
to rise fairly steadily, while equipment outlays in the second
and third quarters of this year are scheduled at slightly
below corresponding 1951 quarters. Unfilled orders for
freight cars and diesel-electric locomotives are now well
below the record of a year ago, while backlogs of steam locomotives and passenger cars are above the very low rates
of last year.

Table 2.—Expenditures on New Plant and Equipment by U. S. Business, 1950-52 *
[Millions of dollars]
1952

1951

Industry

Manufacturing

1951

1950

_ __ __

JanuaryMarch

April-June

July-September

October-December

JanuaryMarch

April-June 2

July-September 3

7,491

11, 130

2,154

2,802

2,841

3,335

2,742

3,251

3,087

Durable goods industries
__
Primary iron and steel
Primary nonferrous metals
Fabricated metal products
__ _ __ _
Electrical machinery & equipment
Machinery except electrical
Motor vehicles & equipment
Transportation equipment excluding motor vehicles
Stone, clay & glass products
Other durable goods 3

3,135
599
134
350
245
411
510

5,168
1,304
277
421
359
675
736

923
190
45
97
62
121
136

1,231
283
62
104
87
149
193

1,363
352
70
100
90
181
207

1,652
479
100
119
120
224
202

1,326
356
109
87
80
176
171

1,578
439
139
100
102
192
235

1,438
397
129
73
115
161

82
280
524

182
388
826

25
75
172

42
98
213

54
100
209

62
114
232

65
83
199

78
84
209

Nondurable goods industries

4,356

5,962

1,230*

1,571

1,476

1,683

1 416

1,673

1,649

523
237
450
327

657
311
' 695
489

157
78
158
106

184
82
216
122

153
79
187
126

162
72
153
134

156
67
136
99

174
78
136
109

135
60
108
106

771
1,587
102
359

1 283
2,014
187
327

254
356
40
81

339
490
43
95

319
511
42
79

372
657
61
71

325
492
55
86

378
659
59
80

406
691
63
80

Food and kindred products
Beverages
Textile mill products
Paper & allied products
Chemicals & allied products
Petroleum & coal productsRubber products
_ __ __ __ __ _
Other nondurable goods *

___

Mining
^Jtailroad

_

Other transportation
Electric and gas utilities
Commercial and miscellaneous 5
Total

___

(6)

60
186

684

796

183

203

199

211

188

217

217

1,136

1,541

303

412

377

449

376

406

309

437

511

125

136

120

130

134

161

3,167

3,577

753

893

933

998

761

934

4,917

5,735

1,345

1,467

1,374

1,549

1 351

1,387

1 318

17,832

23, 290

4,863

5,913

5,844

6,672

5,552

6,356

6,168

1 Excludes agriculture. These figures do not agree precisely with the totals included in the
gross national product estimates of the Department of Commerce. The main difference lies
in the inclusion in the latter figures of certain outlays charged to current account.
2 Estimate based on anticipated capital expenditures of business as reported in May.
3 Includes lumber products, furniture and fixtures, Instruments, ordnance and miscellaneous manufactures.




(6)

120

1.036

4
Includes apparel and related products, tobacco, leather and leather products and printing
and publishing.
*Includes trade, service, finance, communication, etc.
« Data not available separately but are included in totals.
Source: U. S. Department of Commerce, Ofllce Business Economics.

8




SUKVEY OF CUEEENT BUSINESS

Fifty-two Billion Dollar Exports
1949-51

Machinery, Vehicles,
and other Metals
and Manufactures
$14.4 Billion

Foodstuffs and other
Agricultural products
$10.6 Billion

Services, Merchandise
Adjustments, and
unknown transactions

Other Manufactured
Merchandise
$11.9 Billion

$15.3 Billion

June 1952

SUKVEY OF CUEKENT BUSINESS

June 1952

9

BALANCE OF PAYMENTS TRENDS
in the First Quarter of 1952
J_HE short run disturbance of international economic
relationships resulting from the invasion of South Korea, as
reflected in the United States balance of payments, appears
to have passed its peak by the end of last year. With the
marked increase in United States imports during the first
quarter of the present year the export surplus of the United
States was reduced. The large foreign losses of gold and
dollars which characterized the period from July 1951 to
February 1952 seems to have been stopped since March,
reflecting basic trade trends as well as action by foreign
governments to make necessary adjustments.

United States export surplus reduced
World trade during the first quarter of 1952 reflects the
coincidence of the upward adjustment of imports in the
United States and in countries (e. g. Canada, Sweden and
Japan) where economic movements paralleled those of the
United States, and some indications of downward adjustments of imports by the sterling area and those countries
which kept their imports high during the last half of 1951.
Exports from the United States during the first quarter of
1952 did not, however, fully reflect these developments.
Shipments, excluding those under military aid programs,
were only slightly less than during the preceding quarter.
The improvement in the financial position of foreign
countries resulting from the decline in the export surplus of
goods and services from $1.9 billion in the last quarter of
1951 to $1.4 billion was largely offset by a reduction in
foreign aid from $1,050 million to $930 million and by a
decline in private capital outflow from $510 million (including
purchases of $100 million of bonds issued by the International
Bank) to about $230 million.
Because of the decline in the outflow of funds for Government aid and private investment, the improvement in the
foreign balance on goods and services was not reflected in an
equivalent improvement in the movement of foreign reserves.
During the fourth quarter, foreign countries and international
institutions liquidated about $300 million of their gold and
dollar assets, while in the first quarter such liquidations
rose to - about $370 million. Most of these liquidations,
however, took place during the first 2 months of the year and
an improvement in international economic relationships
became evident toward the end of the first quarter.
Imports turn upward again
The most significant change in the balance of payments
from the last 3 months in 1951 to the first three months in
1952 was the $300 million rise in imports of merchandise.
Since average unit values remained virtually unchanged the
rise represents an increase in volume. Compared to the
corresponding period a year ago, when imports were at the
postwar peak, import volume was about 7 percent smaller,
whereas during the last quarter of 1951 imports had been
about 14 percent smaller than a year earlier.
206532°—52

2




Generally, the changes in imports appear to reflect developments in the domestic economy. The exceptionally high
output of durable goods, mainly for defense purposes and
for the expansion of productive facilities, accounts for the
high imports of nonferrous metals and ferro-alloys. The
relatively large imports of industrial and agricultural machinery may still reflect stringencies in that field. On the other
hand, lagging imports of wool, hides, wool and cotton
manufactures and automobiles have their parallel in the
reduced sales of consumer goods in the domestic market.
The improved domestic supply situation accounts for the
decline in imports of steel mill products.
Imports of services were also rising. Freight payments to
foreign ship operators follow approximately changes in
imports. Tourist expenditures during the first quarter were
about 10 percent higher than during the same season last
year. Indications are that a new record for foreign travel
will be set in 1952.

Merchandise exports still high
Merchandise exports, as indicated above, do not give so
clear an indication of economic developments as do imports.
Among the major declining exports were cotton, tobacco,
and coal; among those rising were grains, machinery, civilian
type vehicles and military goods.
The declines do not seem to reflect any general changes in
business activity here or abroad. Although output of cotton
textiles in some of the major producing countries, particularly in Europe, started to decline toward the end of last
year, exports of cotton from the United States were considerably higher than last year or even the year before.
They were smaller only by comparison with exports in the
fourth quarter of 1951. The latter were unusually high because of the need to replenish foreign stocks, which had been
reduced as a result of export restrictions during the 1950-51
season following the low crops here and in order to take
advantage of the low prices .existing in the early fall of 1951.
The rise in exports of industrial machinery, and iron and
steel mill products has been continuous since the middle of
1950. Nearly two-thirds of these exports in 1951 and the
first three months of 1952 went to Canada and Latin America
where investments, both local and American, in mining,
petroleum and manufacturing were proceeding at relatively
high rates. From the last quarter of 1951 to the first of
1952 the rise was even sharper than during the preceding
18 months. This may reflect the better supply situation in
the United States which permitted orders already on hand
to be filled faster.
Exports of consumer goods changed relatively little from
the preceding quarter, thus interrupting a downward trend
which had started about the middle of 1951.

Effect of exchange restrictions
The tightening of exchange restrictions in the sterling area
and in France, Brazil, Argentina and several other countries

SURVEY OF CURRENT BUSINESS

10

June 1952

Table 3.—Balance of Payments of the United States, First Quarter of 1952v
[Millions of dollars]
|
All
areas

Item

Exports of goods and services:
Merchandise, adjusted
Transportation _
Travel
_
Miscellaneous service:
Private-.
__ _
_ _ _ _ _
Government,
Income on investments:
Private
Government

1, 359
198
8

157
61

66
41

389
29

33
21

21

_ _
_ _

5,294

1, 726

190

2, 965
255
130

497
117
22

323
7
13

-

Total-

.__

_-

_

-

._ -

Income on investments:
Private

65
400

54
126 1

83
11

64
4

InterAll
Latin
national
other
Canada American
institurepublics countries
tions

Other
Europe

4, 155
401
102

_ _ _ _

Imports of goods and services:
Merchandise, adjusted _
Transportation
Travel _ _ _ _ _ _
_ __ ___
Miscellaneous services:
Private.
._ _. _ _

OEEC
OEEC
countries ^t1".
encies

148
Ifi
2

1,010

57

30

3

1736
84
5

1242
35
2

22
1

34

18
12

12

49
5

40
4

69

167
3

94
2

5

49

19

79

836

1,333

20

928

342

44
2
1

572

908
79
67

618
25
3

3

24

536
51
17

136
40
4

5
13

5
18

1
181

48
29

47
21

13
3

3
1

2
1

36
1

35
1

3
(0

(*)
(*)

(*)

3

00

57
1

4

(*)

(-)

Other
United
OEEC
Kingdom countries

Total

899
80
5

69
5

670
17

Sterling area

1,110

1

120
4

83

437

9

207
4
12

184
7
1

(*)
(*)
1

401

51

655

1,081

831

6

718

284

10

-211

28

181

252

279

14

210

58

14

Unilateral transfers (net);
Private
Government:
Economic aid
^Military aid
Other

-95

-42

-4

-1

-12

-31

-379
— 410
-33

— 259
— 328
-7

-69

-21

21
i

-17

-2

-6
-30
-1

-917

-636

-21

38

-25

-3

172

33

11

_ ._

Total
Balance on goods and services and unilateral transfers (Balance for "all areas" equals net foreign
investment)
United States capital (net):
Private:
Direct investments
Other long-term
Short-term
Government:
Long-term
Short-term-

- __

.

206

-184
-33
-16

-7
26
-14

— 140

-61
1

-366

Total
Foreign capital (net):
Long-term
Short-term

468

-

- -

Gold sales (purchases [— ])
Transfer of funds between foreign areas (receipts
from other areas [—]), and errors and omissions ___

3
180

-555
270

(0

(*)

-3

-49

-215

-1

178

203

104

—7

-35
-31
19 |

-101
10
-61

-45
-20
31

-1

!

—.9

62
6

2

-90

0

-84

00
-7

2
-31

2
135

2
143

4 .
1
0

(*)
-18
9

:

Q

-3

-12 |

8
51

-1
3

-3

2
209

00
16

i Merchandise has been adjusted to exclude exports of military-end-use items financed
through grants under the military aid programs and to include for the total sterling area—but
not for the United Kingdom and other component areas—"special category" exports sold for
cash. For the definition of "special category" goods, see Foreign Trade Statistics Notes for
September 1950, published by the Bureau of the Census.

toward the end of last year and* early in this year does not
seem to have had its full effect upon our exports during the
first quarter. The slow response to the more stringent exchange restrictions reflects partly the normal time lag between the decline in orders and the decline in shipments, but
partly it also reflects the essential character of the purchases
here and the lack of alternative sources of supply.
The independent sterling area countries and some of the
South American countries have yet to adjust their dollar
expenditures to the available dollar supplies. The expected
decline in exports to these countries would overbalance any
further rise in exports of consumer goods to those countries
which increased their purchases here during the first quarter.
The net effect upon total United States exports is likely to
be relatively small, however, as exports to these sterling area
and Latin American countries amounted to less than 20
percent of all civilian exports from the United States. The
decline in exports may be accentuated, however, if production
of foodstuffs and fuels abroad increases, although some of the
saved dollars are likely to be spent upon other commodities
here.



(-)

(•)
2

339

-1

—29

-55

-549

-23

-161

-47

-175

2
15

1
16

-2
126

-3 •

~5

0

i

-54

-145

00

-138

-26
Q

-2
-50
2

-1

00

227

-520

296

349

197
240
4

-3

3

(

?
(*)

(')
n

-3

-147

1

-4

-521

1
4

3

-144

-2

-4

I

W

(*)

842

_

7

24

884

_

2 j

11

1,385

_

i 379
37
2

19

3,909

-24

All
other
countries

i 53 i
8 j
1 |

(*)
(*)

Balance on goods and services

Total

OEEC
dependencies

1

233

-26
-4
-3

(*)

-1

-47
2

(*)

1

-78

-1
6

1
-14
-3

-11

139

-139

2 Military aid to the sterling area countries is not shown separately.
v Preliminary.
* Less than $500,000.
Source: U. S. Department of Commerce, Office of Business Economics.

Exports of services changed relatively little from the preceding quarter.

Military aid rising
Military aid rose to an annual rate of $1.6 billion during
the first quarter and even larger exports during April indicate
that a rapid upward movement in shipments under these
programs can be anticipated.
Economic aid, as in the previous quarter, was less than the
appropriation for the current fiscal year would have permitted, probably due to the temporary decline in new allotments last fall pending passage of the appropriation by
Congress and the distribution of the new funds. As allotments and procurement authorizations have increased since
the beginning of the year, disbursements can also be expected
to rise again.
The first-quarter gross disbursements under economic aid
programs were at a slightly smaller rate than the foreign
aid authorization for fiscal 1953 passed by Congress on
June 3. This new authorization included $1,849 million

SURVEY OF CURRENT BUSINESS

June 1952

for economic aid and $4,598 million for military assistance,
and included the provision that 10 percent of either amount
can be transferred to the other program.

Investment change not significant
The decline in the outflow of private capital appears to
be due to a fortuitous coincidence of several major security
issues during the fourth quarter of 1951 which was not
repeated during the first quarter of 1952.
First, there were issues of $150 million of new securities
by (mostly Canadian) subsidiaries of Ameiican companies,
and second, $100 million of bonds were sold by the International Bank. The next flotation of securities by the
International Bank occurred in May, when a $50-million
issue was offered.
Other purchases of Canadian bonds were smaller. In
this case the decline may reflect a change in the basic situation prevailing since the fall of 1950 which had favored

11

the issue of Canadian securities in the United States. The
rise of the Canadian dollar to a premium rate over the
United States dollar makes borrowing in the United States
less attractive because the proceeds in Canadian currency
for every United States dollar borrowed have declined,
and—if the premium is considered temporary—the effective
interest rate is increased. The relaxation of Canadian
credit restrictions can also be expected to reduce Canadian
borrowing in the United States.
The net outflow of private short-term capital declined
to $16 million from $92 million in the fourth quarter of last
year. To a large extent the decline was due to repayment
by foreign official institutions and foreign banks of loans
extended by United States banks. Unpaid drafts increased
in both periods, principally those involving credit to Brazil,
indicating that a very substantial part of the exports to
that country during the six months from September to
March had been financed by credits.

Table 4.—Balance of Payments of the United States, 1951: Annual and Fourth Quarter T
[Millions of dollars]
All areas
Item

Exports of goods and services:
Merchandise, adjusted

_

Transportation
Travel
Miscellaneous services:
Private
Government
Income on investments:
Private
Government
Total _ . _ -

_ _..

________

Imports of goods and services:
Merchandise, adjusted

OEEC countries

OEEC dependencies
IV

Other Europe
IV

Latin American republics

Canada
IV

Year

Year

All other
countries
IV

International
institutions

IV

Year

IV

Year

4,130

15,486

1,329

5,045

133

499

73

290

642

2, 682

995

3,802

956

3, 166

2

2

417

1,487

212

736

16

61

6

20

18

71

81

328

83

270

1

1

91

420

7

36

2

7

1

49

236

27

113

6

27

158
54

623
211

65
32

267
132

14

55

570
100

1,800
192

45
92

149
158

5,520

20, 219

1,782

Year

Year

00

IV

Year

(')

2
1

10
1

22
1

4

34
6

124
21

18
14

77
53

37

102
(*)

1
1

2
10

129
(*)

401
(*)

259
6

748
16

99
1

392
8

6,523

191

677

84

334

861

3,476

1,408

5,152

1,177

3,993

8

3
(*)

IV

Year

f>
17

64

2, 645

11,668

478

2, 031

214

1, 055

60

220

617

2, 296

81.2

3, 533

464

2, 516

Transportation

228

933

103

457

5

19

1

6

25

107

69

269

25

75

Travel

137

722

35

184

10

45

1

4

39

255

48

216

4

18

61
411

249
1,143

50
121

206
364

(*)
54

(*)
79

(*)
10

4
17

18
33

5
19

19
65

188

6
560

100
11

351
47

72
4

263
14

1

2

(*)

20
3

63
15

13
4

3
1

10
6

2

8

3,593

15, 113

863

3,519

284

1,200

66

240

725

2,787

958

4,119

687

3,191

10

57

Balance on goods and services. _ _ _ _ _ _ _ _ _ _

1,927

5,106

919

3, 004

-93

-523

18

94

136

689

450

1,033

490

802

7

7

Unilateral transfers (net) :
Private
Government:
Economic aid
Military aid
Other

-114

-412

—7

-26

-2

-10

-13

-41

-32

-135

(*)

-740 -2, 969
-320 -1,462
-30
-70

— 406 -2, 113
— 182 -1,098
11
—5

-12

-79
-2

—6

-520
-301
— 69

-240

(*)

-131
-104
-21

-186

—1

-17
-63

—1

-5
-34
—1

-1,204 -4,913

-650 -3, 384

-4

-16

-19

-105

-4

-16

-53

-126

-288

-1,025

-186

-241

-97

-539

-1

-11

132

673

397

907

202

-223

-179

-234

9
-4

(')
—1
-9

-1

-119
— 74

-271
— 220
53

-61
17
-68

-187
29
-139

-13
-16
-33

-63
— 56
-73

—99

—153

-25

-18
-2

-3
(*)

-28
-1

K>
(')

-1

-1
—1

— 85
—1

-73
3

-142

-2

-1

Miscellaneous services:
Private
Government ..
Income on investment:
Private
Government

______

__ __

Total

Total
Balance on goods and services and unilateral transfers (Balance for "all areas" equals net foreign
investment)
United States capital (net):
Private:
Direct investments
Other long-term _
Short-term
Government:
Long-term.
_ _ _ _ _
Short-term
Total.
Foreign capital (net):
Long-term
Short-terni_ . ._.

_ _ _ _ _

Gold sales (purchases [—]) _
Transfer of funds between foreign areas (receipts
from other areas [— ]), and errors and omissions...
r

Revised.

c

Less than $500,000.




(*)

(*)
(*)

(*)

-184

— 15
(*)

(*)

\

17

8

32

(

723

193

269

-380

-240
-182
-92

-604
-359
-103

-15
— 32
-19

25
85

10
2

- 140

93
1

146

-502 -1,229

48

172

-32

-20

-13

-48

-158

-444

-114

-383

-132

-341

-101

-165

-210
614

-543
1 , 038

41
146

20
177

2
28

9
—5

-1
14

-3
-10

-240
322

-562
535

6
-100

9
-99

133

0
454

-L3
71

-16
—14

-709

-53

-300

2

12

8

5

-1

2

-27

124

7

80

-2

24

311

97

543

—7

67

—55

-162

-558

-205

30

224

405

84

594

-696
192

-33
-3

:,,

-204

Source: U. S. Department of Commerce, Office of Business Economics.

J

-12

SUKVEY OF CUEKENT BUSINESS

12

303

911

19

61

55

205

86

286

34

143

3

7

8

30

41

106

5

27

2

11 (•)

1

1

5

2

10

the first of 1952, as measured by that balance, took place
in the case of the United Kingdom and the British dependencies. The deficit of $170 million in the fourth quarter
changed to a surplus of $120 million in the first.
Of the fourth quarter deficit, $140 million was due to
the service on the British loan, but the remaining improvement of $150 million was the result of higher imports by
the United States, as well as lower imports by the United
Kingdom from this country. The deficit of the rest of the
sterling area declined only from $176 million to $166 million
These data suggest two conclusions. First, any contribution by the independent members of the sterling area
toward alleviating the foreign exchange crises of the area
was not sufficient to create a major change in their net
transactions with the United States; second, the transactions
of the entire sterling area with the United States, to the extent that they are statistically accounted for, comprised only
a very small part of the total sterling area loss in gold and
dollar assets of $635 million during the first quarter.
Further adjustments in the balance of payments of independent sterling area countries with the United States may,
therefore, be expected. However, some adjustments in the
transactions of the sterling area with countries other than
the United States, can also be anticipated, either by selling
more to them, or buying less from them. Continental
European countries in particular may be affected by such
adjustments.

46
5

193
17

37
4

160 («)
15 (')

6

7
1

26
2

Position of other countries

66
87

225
88

30
87

89 (')
88

25

79
(x)

11

57
(*)

Sterling area deficit reduced
The balance on goods, services, unilateral transfers and
movements of United States capital with each area provides
a measure of the deficit of that area with the United States
which has to be met by drawing upon foreign gold and
dollar assets, or of a surplus which was added to the dollar
resources at their disposal. Gold and dollar assets used
for payments to the United States may have been accumulated during previous periods or currently obtained through
transactions with other foreign areas. Vice versa, an increase in dollar resources may be added to reserves or spent
in other foreign areas.
The major change from the fourth quarter of 1951 to
Table 5.—Balance of Payments of the United States with the
Sterling Area, 1951: Annual and Fourth Quarter r
[Million of dollars]

Year

IV

Transportation
Travel
Miscellaneous services:
Private
Government
Income on investments:
Private.
Government
Total

__ _

Imports of goods and services:
Merchandise, adjusted

Other
OEEC
countries

United
Kingdom

Total
Item

Exports of goods and services;
Merchandise, adjusted !

773 2,331

1,068 3,167
409 2,226

Year

IV

Dependencies

1

2

(«)

1,417

22

70

91

325

425 1,242

117

483

7

17

132

738

153

988

34

148

1

3

3

11

7

22

4

9

42

1

7

(«)
13

1

5

2
13

497

184

Travel-

17

90

45
31

180
98

44
20

178 ~ ~ ~ ~ 2 (*)
(*)
4
68

36
1

137
2

35
1

134 («)
2

Total
Unilateral transfers (net);
Private
Government:
Economic aid2
Military aid
Other
Total
Balance on goods and services
and unilateral transfers
United States capital (net):
Private:
Direct investments _
Other long-term
Short-term
Government:
Long-term
Short-term___
_Total
Foreign capital (net);
Long-term
Short-term
Gold sales (purchases [— ])
Transfers of funds between
foreign areas (receipts from
other areas [— ]) and errors
and omissions
r

37

(')

1

(*)

806

258 1, 050

10

28

484

250

239

367

12

42 -58 -481

-20

— 67

— 11

-32

-3

-1

—6

-78 -326

— 47 — 218
—1

406

-76

180

-30
—4
20

-62
— 15
87

-2
—3
19

-15
3

8

52
(*)

-26

-18

66

32
215

57
68

30
145

-647

20

-514

483

-630

209

-3 -13

-8

113

4

-26 (•)
—6
80

31

89
0 "(*)"

3 -13

-12
2
(*)

11
-1

50
8

9

-464

169 -12

8

28

250

181

64
4

62

103
10

1 -78 -144

2
6 (*)
53
9 -19
2

-8

-2

-16 -43
21
-16
-1
1
8

3 -11
-1 -1

-12 -14

137 (*)

209

-3 -13

(*)

(*)

11 -61 -494

(*)

167 1,033

-5 -13
(*)

(*)

1

258

— 5 — 22

-4 (*)

-59 -254

-9

149

2 (*)

584 2,917

— 57 — 253

363 1,041

(*)

(*)

(*)

45

Balance on goods and services.

All other
countries

IV Year IV Year IV Year

Transportation
Miscellaneous services:
Private
Government
Income on investments:
Private
Government

1
83

4 -19 -54

502 -206

-67

Revised.
* Less than $500,000.
^Merchandise has been adjusted to exclude exports of military end-use items financed
through grants under the military aid programs and to include for the total sterling area—
but not for the United Kingdom and other component areas—special category exports sold
for cash. For the definition of "special category" goods see Foreign Trade Statistics notes
for2 September 1950, published by the Bureau of the Census.
Military aid to the sterling area countries is not shown in this table but included in table 4.

Source: U. S. Department of Commerce, Office of Business Economics.



June 1952

The deficit of the continental OEEC countries with the
United States increased considerably as compared to the
previous quarter, and although they still had a surplus with
the sterling area, their gold and short-term dollar assets
declined by about $10 million.
The surplus with Latin America declined sharply so that
the accounts with that area were again nearly in balance.
With the independent nonsterling area countries of Africa
and Asia, the United States had a larger deficit, primarily, as
a result of the annual imports of Egyptian cotton which
occurred during the first quarter. Most of the rise in dollar
assets, however, accrued to Japan and was due mainly to the
agreement by the United States to pay, beginning with July
1, 1951, approximately half of the expenditures of the United
States Army in Japan in dollars, and to the continued large
purchases of goods and services by the armed forces for use
in the Korean operations. Although aid to Japan declined
rapidly during 1951 upon termination of the program at the
end of June, Japanese dollar assets increased by nearly $400
million from the end of June 1951 to the end of March 1952.

Inflationary pressures decline abroad
The balance of payments during the first quarter still
reflects a relatively tight demand-supply situation abroad,
while in the United States the supplies of many commodities
have become increasingly plentiful in relation to current
demand. There are various indications in production and
employment data, however, that the supply situation abroad
is also improving.
Inflationary pressures have subsided in France. Prices of
certain raw materials, such as wool, some nonferrous metals,
copra, jute and rubber started to decline again during recent
months, after they had remained more or less stable during
the last half of last year.
Continued high expenditures for armaments, and a continued backlog of investments, however, are—just as in the
United States—likely to prevent the weaknesses from spreading very far. The relaxed supply situation in European
countries may, however, improve their balances of payments
by lowering import demand and raising supplies available
for export.

SUKVEY OF CUEEENT BUSINESS

June 1952

13

The Business Population

T

A HE business population currently consists of slightly
more than 4-million firms, quite close to the post-war peak
reached in June 1948. On a seasonally adjusted basis, the
number of firms in operation which declined from mid-1948
to mid-1949 has consistently edged up since that time, but
the total increase since mid-1949, amounting to less than
2 percent, has simply offset the earlier loss. At the end of
March of this year, the business population was less than
1
A of 1 percent higher than one year ago.
As may be seen from table 6, the business population
currently exceeds the pre-war level by nearly 20 percent
and exceeds the World War II low reached at the end of
1943 by one-third. From 1948 to date, the overall business
population has been extremely stable, a development which
is remarkable in view of the diversity of conditions which
characterized this period.
Construction and transportation continue up

Only two major industry divisions—contract construction and transportation, communication, and other public
utilities—have shown significant increases over the past
year. The continued strength in the contract construction
division is a reflection of the pervasiveness of the demand for
new construction. There are now more than two and onehalf times as many construction firms in operation as there
were at the end of 1943; this division alone accounts for
23 percent of the increase which has occurred in the total
business population since that date. However, recent trends
Table 6.—Number of Firms in Operation Mar. 31, 1952 and Percent Cbange From Selected Dates, by Major Industry Divisions
Number
of firms
in operation
March
31, 1952 i
(thousands)
All industries
Mining and quarrying . _ _
Contract construction
Manufacturing
Durable
Nondurable ___
Transportation, communication and
other public utilities
Wholesale trade
Retail trade _ _
Finance, insurance and real estate
Service industries
1

Percent change to Mar. 31, 1952 from:

June
1940

Dec.
1943

June
1948

June
1950

Mar.
1951

4, 018. 7

19.0

34.6

0.2

0.8

0.3

34.1
384.2
306 6
155.4
151.1

-8.3
92. 6
35 4
82.2
7.0

9.3
161.0
28 9
60. 5
7.2

-4.0
18.3
—7 5
— 1.8
—12.8

0
6.0
10
8.8
-5.9

-.3
32
0
4 1
—4.1

212 1
207. 7
1, 662. 4
354.0
857.6

43. 7
41.8
4.3
14.9
19.4

82. 1
48.1
21.3
15.6
34.8

12 2
2.2
-3.2
1.8
-.5

9.2
1.9
— 1.4
1.9
.4

4 8
5
—.9
.7
0

Preliminary

in the number of new and discontinued businesses suggest
that the contract construction division is now leveling off.
Comparatively small trucking and warehousing firms
comprise at least three-fourths of the transportation, communication,
and other public utilities division. The con
tinued growth in the number of such firms is also related


to the residential construction boom but more importantly
is a result of the defense program reflecting the movement
of both supplies and families.
During the past year the number of retail trade firms
continued the decline which, except for an interruption
during 1950, has been in progress since the 1948 peak
Declines in the number of firms dealing in food have brought
about this movement in the division as a whole. Wholesale
trade and finance, insurance and real estate experienced
modest gains in the past year, while the remaining majoi
industry divisions remained unchanged.
In manufacturing, the number of durable goods producers
continued to increase during this period in response to the
demands of the defense program, but these gains were offset,
by continued declines among producers of soft goods.
This is in contrast to the 12-month period ending in March
1951 during which the strength of the durable goods sector
brought about a moderate increase in the total number of
manufacturers. Manufacturing as a whole reached a postwar peak in 1947, about one year earlier than the other
major industry divisions. However, most of the decline
which followed was concentrated among nondurable goods
manufacturers.

Recent trends among minor industries
Table 7 presents estimates of the number of firms in operation 1947-51, by the widest available industry detail; this
table revises and extends the information shown in table 2
of the business population article published in the June 1949
issue of the SURVEY.
In December 1947 the number of manufacturing firms was
close to the postwar high which had been reached in June of
that year. In September 1951 most of the manufacturing
groups were below December 1947 with the larger relative
declines occurring in food; apparel; leather; chemicals; stone,
clay and glass products; transportation equipment; and
miscellaneous manufacturers. However, a few manufacturing groups—particularly the machinery categories and
petroleum and coal products—were appreciably higher in
1951 than at the end of 1947.
In the case of retail trade, nearly all of the recent declines
of the division as a whole are attributable to decreases among
food stores of all types and among eating and drinking
places. The number of drug stores and jewelry stores has
also fallen off^ slightly since June 1948, but all other categories of retail trade have remained unchanged or shown
increases. The number of home furnishing firms, partly as
a reflection of the residential construction boom, has increased nearly 8 percent over the past three years.
Within the service industries, decreases during the past
three years in the number of barber and beauty shops and
firms engaged in automobile repair have been largely offset
by increases among firms engaged in business services and
miscellaneous repairs.

SURVEY OF CURRENT BUSINESS

14

Business turnover
Table 8 presents the number of new and discontinued
businesses 1947-51 by the widest available industry detail;
this table revises and extends the information shown in
table 3 of the business population article in the June 1949
SURVEY. Also shown in the table are the number of transferred businesses 1944-51; these estimates represent revised
series which will replace the old series which has been regularly published for all industries combined on page S-4 of
the statistical appendix to the SURVEY. The new transferred
businesses series are comparable with the other business

June 1952

population estimates on number of firms in operation and
the number of new and discontinued businesses.
A comparison of the first three-quarters of 1950 and of
1951 show that business births increased slightly (1 percent)
while business deaths increased more sharply (10 percent).
Despite the sharper increase in the number of discontinued
businesses, however, business births were slightly more
numerous than deaths during the first 9 months of 1951.
Among the major industry divisions, the number of new
businesses in 1951 was higher than in 1950 in manufacturing
(7 percent), transportation, communication and other public
utilities (22 percent), finance, insurance and real estate (11

Table 7.—Number of Business Firms in Operation 1947—51 1
[Thousands—end of quarter]

IV

1

II

19 50

1949

19 48

1947

III

IV

I

II

III

IV

i

II

1951

III

IV

I

II

3, 947. 4 3, 983. 4 4, 010. 2 4, 004. 8 3,981.1 3, 973. 0 3,961.7 3, 957. 3 3, 953. 3 3, 968. 4 3, 986. 1 3, 997. 7 3, 985. 6 4, 007. 4 4,016.4

All industries
Mining and quarrying
Contract construction

.

III
4,012.1

34.3

34.6

35.5

35.8

35.4

35.0

34.5

34.0

34.1

34.2

34.1

34.4

34.1

34.2

34.2

34.1

304.7

315.1

324.7

328.1

327.8

332.4

336.4

337.7

339.5

350.4

362.4

366.9

365.5

372.3

377.5

379.0

330.2

331.1

331.5

329.1

323.3

317.6

311.2

306.3

302.4

302.5

303*5

303.3

303.1

306.7

308.0

305.3

Food and kindred products
Textile mill products
_ .
Apparel and other finished textile products
Leather and leather products
__ _

36.8
10.4
33.4

36.2
10.6
33. 1

35.5
10.7
32.8

33.6
10.8
32.2

31.4
10.9
31.7

27.7
11.0
31.1

5.9

26.9
11. 1
30.9

25.9
11.2
30.8

24.9
11.2
31.0

6.7

5.9

28.8
10.9
31.8

6.3

30.3
10.8
31.5

29.7
10.8
31.6

6.5

32.5
10.9
31.8

6.6

34.7
10.8
32.7

24.0
11.3
30.6

23.2
11.2
29.8

Lumber and timber basic products
Furniture and finished lumber products

72.4
11.0

74.3
11.0

75.8
11.1

74.9
11.1

72.2
11.0

69.9
10.9

66.7
10.8

64.2
10.7

61.8
10.6

65.2
10.6

71.7
10.4

45.6

45.9

46.1

46.2

46. 3

46.5

46.8

46.9

47.3

47.6

70.3
10.5
4 9
47.7

72.3
10.5

45.4

65.7
10.6
4 9
47.4

66.9
10.5

Printing and publishing __ __

62.5
10.5
A. n
47.1

47.8

47.8

Chemicals and allied products - _
Products of petroleum and coal
Stone, clay, and glass products __

10.5

10.4

10.1

10.0

1.4

9.8
1.4

9.4
1.5

9.0
1.5

8.9
1.5

8.7
1.5

8.6
1.5

8.2
1.5

8.2
1.4

12.9

12.6

12.4

12.0

11.6

10.9

10.6

10.3

10.1

8.0
1.4
9.9

7.8
1.5
9.7

7.5
1.5
9.5

7.3
1.5
9.4

6.2

6. 3
18.1
19.2

6.2

6.2

6.1

6.0

18.0
19.0

18.1
19.4

18.0
19.4

17.9
19.3

4.9
6.7

4.9
6.6

4.9
6.6

4.9
6.5

17.8
19.3

3.6

3.6

3.7

3.7

3.6

3.5

1.5

1.5

1.6

1.6

1.5

1.5

25.1

24.6

Manufacturing. _ _ _ _

__

6.8
_.

1.3

Primary metal industries.
__ _
Fabricated metals
Machinery except electrical
Electrical machinery _ _ _ .
Transportation equipment .
_ _ _ _ _ _ _
Professional, scientific, and controlling instrumentsRubber products.
Miscellaneous

_

_

_

._

4.9
6.8

1.3

1.4

24.5

24.5

24.2

6.2

11.2

4.9
6.2

23.8

6.0

5.9

5.9

17.7
19.0

17.7
18.9

10.5

5.8

17.7
18.8

5.8

10.4

5.8
17.7
18.8

4.9
5.7

4.9
5.6

3.6

3.5

3.5

1.5

1.5

1.5
22.6

22.6

4.9
5.9

23.2

22.8

5.7

4.9
5.5

5.8
17.9
19.1

5.7

5.6

5.8

5.8

18.0
19 4

18.0
19.8

5.2
5.4

5.6

5.9
18.2
20.7

5.3
5.3

5.7

5.9

5.6

5.9

18.2
21.4

18.4
22.0

3.5

5.0
5.4

5.1
5.4

3.5

3.5

3.5

3.4

3.4

3.4

1.5

1.5

1.5

1.5

22.5

22.4

1.5

1.5

1.5

5.5
5.2

5.5
5.1

21.9

21.9

21.7

21.2
206.8

Transportation, communication, and other public
utilities
. _
_ _

185.0

187.5

189.1

189.6

189.1

189.2

189.0

189.5

189.9

192.1

194.2

196.6

198.3

202.3

204.9

Wholesale trade

200.6

202.2

203.3

203.6

203.1

202.8

203.2

203.1

202.9

203.2

203.9

204.8

205.0

206.6

207.5

207.6

1, 699. 4 1,709.9 1,716.6 1,711.6 1,701.3 1,696.9 1,691.1 1, 690. 3 1, 687. 5 1,685.9 1, 686. 2 1,686.4 1,676.9 1, 676. 8 1,673.7

1, 668. 4

Retail trade

_ _ _ _ _

_ _

47.3
31.1
337.1
29.3
104.2
22.0

48.0
31.0
338.3
29.0
105.0
22.0

48.6
31.1
338.7
28.4
105.5
22.0

48.8
31.0
335.0
27.3
105.1
21.8

48.9
30.8
330.9
26.5
104.6
21.6

49.2
30.6
327.5
26.0
104.9
21.2

49.6
30.3
324.2
25.6
104.8
21.1

50.2
30.2
322.8
25.1
104.8
21.2

50.1
30. 1
321.5
24.9
104.9
21.3

49.9
29. 9
319.3
24.7
105.2
21.2

50.2
29.7
317.1
24.1
105.2
21.1

50.7
29.6
314.9
23.7
105.0
20.9

50.6
29.4
311.3
23.1
104.2
20.9

50.4
29.3
309.2
22.7
104.4
20.7

50.4
29.1
305.8
21.8
104.2
20.5

50.4
29.0
302.8
20.8
103.5
20.4

54.7
22.1
81.7
13.1

56.0
22.3
82.4
13.3

57.2
22.4
82.8
13.5

57.7
22.3
83.6
13.9

57.6
22.3
83.7
14.0

57.5
22.3
83.7
14.0

56.5
22.3
83.8
14.1

55.5
22.4
83.7
14.3

54.6
22.4
83.6
14.4

54.3
22.6
83.6
14.5

54.5
22.8
83.5
14.7

55.1
23.1
84.1
14.8

55.7
23.0
84.0
14.9

56.9
23.0
83.7
14.9

58.0
23.0
83.0
15.0

58.9
23.0
82.8
15.2

Eating and drinking places
Filling stations
_ __
...
Home furnishings
Appliances and radios
Drugs
.. _ .. _.

325.2
229.8
41.8
26.9
49.4

326.3
230.0
42.4
27.3
49.4

327.2
229.4
42.9
27.3
49.6

325.6
228.5
43.1
27.3
49.6

322.8
226. 9
43.2
27.1
49.5

321.8
226.8
43.3
26.9
49.3

320.9
226.7
43.4
26.8
49.2

320.9
227.0
43.5
27.0
49.3

319.5
227.7
43.6
27.1
49.2

319.3
227.9
43.9
27.4
49.0

320.2
227.7
44.4
27.7
49.0

320.3
227.5
44.9
27.8
48.8

317.0
226.5
45.0
28.2
48.5

315.7
227.4
45.6
28.9
48.6

315.1
228.8
46.1
29.3
48.5

313.1
229.1
46.5
29.9
48.4

Hardware and farm implements
Lumber and building materials
Jewelry
Miscellaneous retail

44.9
36.6
20.9
181.4

45.6
37.5
21.1
183.1

46.1
38.3
21.3
184.3

46.5
38.5
21 .4
184.6

46.6
38.6
21.4
184.3

46.9
38.9
21.3
184.7

47.1
39.3
21.3
184.2

47.1
39.4
21.2
184.6

47.2
39.3
21.2
184.9

47.4
39.9
21.0
185.1

47.4
40.4
20.7
185.8

47.3
40.7
20.8
186.5

47.3
40.6
20.6
186.2

47.5
40.6
20.5
186.9

47.6
40.6
20.4
186.5

47.8
40.5
20.4
185.9

General merchandise
General stores with food
Grocery, with and without meats
Meat and seafood-. _
Other food
_ _ __
Liquor

__.

Motor vehicles
Automotive parts and accessories
Apparel
_ _ ___
__
Shoes.
_
_

_ _

Finance, insurance, and real estate
Service industries

-_

Hotels and other lodging places
Laundry, cleaning and garment repair
Barber and beauty shops
0 ther personal services
_
Business services
Automobile repair
Miscellaneous repair
Motion pictures
Other amusements
1

- _-

_ __
--

345.9

346.4

347.7

347.2

346.0

345.1

344.2

344.2

344.3

345.7

347.4

349.0

349.2

351.4

352.4

352.8

847.3

856.5

861.9

859.9

855.0

853.9

852.0

852.2

852.6

854.4

854.4

856.2

853.6

857.2

858.3

858.0

78.5
112.7
217.1
97.0

78.4
114.4
216.6
98.5

78.6
115.3
216. 1
99.2

78.1
115.0
214.6
99.4

77.5
114.4
212.5
99.3

77.3
114.1
210.9
99.4

77.1
113.7
209.2
99.5

76.5
113.6
209.1
100.0

76.2
113.5
208.8
100.1

75.5
113. 8
208.1
100.3

75.4
113.3
207.2
100.3

75.5
113.5
206.8
100.5

75.3
113.5
205.7
99.6

76.7
113.7
205.8
99.8

77.4
113.5
205.4
99.6

77.1
113.3
205.2
99.4

79.6
95.1
103.7

81.1
95.9
105.2

82.2
96.3
105.9

82.4
95.7
105.6

82.4
94.9
104.9

82.9
94.5
104.7

83.5
93.6
105.0

84.1
93.0
105.5

84.7
92.4
106.1

85.6
92.2
107.1

86.3
92.3
107.8

87.2
91.9
108.5

88.0
91.1
109.2

89.0
90.9
110.2

89.5
90.8
111.0

90.3
90.6
111.6

13.1
50.4

13.3
53.0

13.5
54.7

13.6
55.4

13.7
55.5

13.9
56.1

14.2
56.2

14.3
56.2

14.4
56.5

14.6
57.2

14.9
57.0

15.1
57.2

15.0
56.1

15.0
56.1

15.0
55.9

14.9
55.4

Data for 1939-47 appear in table 2, "Revised Estimates of the Business Population, 1929-48," SURVEY OF CURRENT BUSINESS, June 1949.

NOTE.—Detail will not necessarily add to totals because of rounding.
Source: U. S. Department of Commerce, Office of Business Economics.




SUEVEY OF CUREENT BUSINESS

June 1952

percent), and retail trade (1 percent). In all other major
industry divisions fewer new businesses were formed in 1951
with the sharpest drop (6 percent) occurring in the contract
construction division.
The over-all increase in the number of discontinued businesses which occurred in 1951 was reflected in all major
industry divisions except wholesale trade and the service
industries. The sharpest increase (33 percent) in the number
of discontinued businesses occurred in the contract construction division; however, business births have continued to
exceed deaths in this division so that the number of operating firms has continued to grow, although at a declining rate.

15

Transfers vs new businesses
In general the movements in transferred businesses closely
parallel those found for new businesses. However, the proportion of all newly acquired firms which are transferred
businesses is subject to great variation by industry. An
entrepreneur starting in the retail field, for example, is more
than twice as likely to buy a going business than to start a
new one. In contract construction, on the other hand,
nearly four and one-half times as many businesses are newly
started than are acquired by transfer.

Table 8.—Number of New and Discontinued Businesses, 1947-51, and Number of Transferred Businesses 1944^-51
[Thousands]
Transferred Businesses 2

Discontinued Businesses *

New Businesses 1
1947

1948

1949

1950

1951 3

1947

1948

1949

1950

19513

1944

1946

1946

1947

1948

1949

1950

19513

476.4

404.6

358.6

397.5

323.3

291.8

371.0

386.3

365.2

296.9

310.5

447.6

619.7

557.2

495.3

459.9

467.0

Mining and quarrying

5.1

6.0

4.2

4.8

3.7

4.0

4.9

5.6

4.8

3.7

1.8

2.3

3.0

2.9

3.2

2.6

2.7

1.8

Contract construction

74.9

66.6

58.6

71.5

55.4

36.5

43.4

46.9

45.5

41.8

5.4

9.4

17.9

17.4

16.8

16.5

16.1

10.7

Manufacturing

15.4

All industries

__

331.8

50.2

40.6

32.1

42.9

36.4

41.1

47.6

53.0

42.2

34.2

15.6

23.3

39.7

32.1

26. 8

22.8

23.5

Food and kindred products
Textile mill products
Apparel and other finished textile products
Leather and leather products
Lumber and timber basic products
Furniture and finished lumber products
Paper and allied products
Printing and publishing
Chemicals and allied products
- Products of petroleum and coal

3.1
.7
4.1
.6
23.2
1.2
3
3.0
.8
1

2.0
.7
3.3
.5
20.5
.8
3
2.6
.7
2

1.6
.5
3.7
.4
14.2
6
.3
2.5
.7
2

1.4
.7
3.7
.5
22.9

3.7
.4
3.9

is! 9

4
2.5
.7
1

1.0
.4
2.5
.3
21.0
5
3
1.6
.6
1

8
.3
1.3
1.1
.1

5.2
.3
4.6
.9
20.6
8
.4
1.8
1.5
1

5.5
.5
4.3
.9
24.6
10
.4
1.8
1.7
.1

5.2
.3
4.5
.8
17.8
.7
.3
1.8
1.4
.2

3.7
.4
3.4
.3
16.2
.6
.3
1.3
1.3

1.8
.3
2.0
.3
4.0
.4
.2
2.2
.4
.1

2.7
.4
2.7
.5
5.2
.6
2
3.2
.6
.1

4.4
1.0
4.6
.8
8.4
1.2
.3
5.4
.9
.2

3.9
.6
3.1
.5
7.5
1.0
.2
4.4
.8
.1

3.3
.4
2.5
.4
6.7
.9
2
3! 8
.6
.1

2.8
.4
2.4
.3
5.5
.7
.2
3.5
.6
.1

2.5
.4
2.3
.3
5.9
.7
.2
3.6
.6
.1

1.6
.2
L3
.2
4.3
.4
.2
2.2
.3
.1

Stone, clay, and glass products- _ _ _ .
_____
Primary metal industries
Fabricated metals
Machinery except electrical
Electrical machinery
Transportation equipment
Professional, scientific, and controlling instruments
Rubber products
Miscellaneous

2.3
.4
2.2
2.2

.9
.2
1.2
1.3
.5
.6

.9
.3
16
2.1
.7
.7

.6
.3
1.1
2.9
.7
.7

2.3
.2
1.0
1.2
.5
1.0

2.4
.3
1. 5
1.4
.6
1.2

2.0
.5
1.4
1.8
.5
1.4

1.5
.3
1.2
1.1
.4
.9

1.1
.1
.8

1.3

1.1
2
L4
1.7
.6
.8

.4
1.0

.4
.2
.6
1.3
.2
.2

.8
.4
1.1
1.8
.3
.4

1.9
.8
2.1
2.3
.6
.9

1.6
.6
1.8
2.0
.4
.6

1.2
.3
1.6
1.7
.3
.5

1.0
.2
1.3
1.3
.3
.5

1.0
.3
1.5
1.5
.3
.4

.6
.2
1.0
1.2
.2
.2

4
.3
3.2

.4
.2
2.7

.3
.1
2.3

3
.2
2.5

2
.1
1.6

2
.1
3.4

.3
2
3! 6

.4
.1
3.9

.3
2
3.2

.2
.1
2.3

.2
1.1

.3
.1
1.9

.4
.2
3.4

.3
.2
2.5

.3
.1
1.9

.2
.1
1.7

.2
.1
1.6

1.0

Transportation, communication, and other public
utilities

28.7

23.8

20.0

24.8

23.3

17.1

19.7

19.2

16.4

14.8

8.3

11.3

15.8

14.2

12.1

11.3

11.2

7.4

Wholesale trade

23.4

18.8

16.3

17.2

13.5

13.1

16.3

16.4

15.1

10.9

7.3

11.6

19.4

16.8

14.1

12.8

12.1

7.4

170.5

143.3

136.7

139.6

113.4

102.7

141.4

150.5

150.2

121.9

184.8

274.6

372.9

344.7

307.8

290.7

297.0

214.3

25.0
2.2
12.3
2.1

3.8
1. 7

3.9
1.3
19.4
1.7
10.1
1.3

3.9
1.0
18.3
1.7
9.6
1.9

3.3
1.2
16.0
1.6
9.5
1.4

1.0
1.3
13.5
1.2
7.0
1.0

1.8
1. 1
16.8
2.7
7.5
.9

2.2
1.6
25.5
4.5
9.6
1.8

2.7
1.8
27.7
3.4
9.3
2.2

2.8
1.9
26.3
3.4
10.3
1.8

1.2
1.7
22.0
3.5
7.7
1.5

3.3
1.9
40.9
2.3
9.4
1.9

4.0
2.9
59.6
2.9
12.5
3.0

6.7
3.8
82.6
4.2
17.6
3.8

4.9
3.3
71.5
3.9
16.6
3.7

4.6
2.8
58.9
3.5
14.6
3.8

4.5
2.4
52.9
3.0
12.8
3.4

4.4
2.3
50.6
2.9
12.8
3.6

1.8
2.0
33.8
1.9
8.9
2.8

8.9
2.5
7.2
1 l

7.6
1.8
7.1
13

4.6
1.5
6.6
12

6.0
1.8
7.1
12

5.7
1.1
5.1
9

2.9
1.1
4.3
4

4.7
1.7
5.1
4

7.6
1.4
6.7

4.9
1.2
6.7
s;

2.6
1.2
6.3
6

2.3
1.1
4.2
5

3.2
1.9
5.4
7

6.1
3.0
7.7
1 0

7.0
2.9
6.7
9

6.4
2.0
6.4
1.0

5.7
1.7
6.2
1.1

5.8
2.0
6.8
1.1

3.7
1.2
4.3
.9

42.5
20.9
5.4
3.7
1.7

36.8
17.2
4.5
2.7
1.5

36.2
20.3
4.3
2.5
1.4

36.2
21.8
4.7
3.3
1.4

30.2
21.7
3.8
2.4
1.2

29.8
14.6
2.1
1.8
1.0

39.2
20.1
3.1
2.- 5
1.5

39.5
19.5
3.8
2.5
1.7

38.7
22.9
3.3
2.2
2.1

34.1
19.2
2.2
.8
1.3

*)8. 7
35.4
2.0
.6
3.2

87.4
58.5
2.7
1.6
4.8

108.3
80.8
4.5
3.4
6.4

103. 1
77.0
4.1
3.3
4.9

95. 1
70.9
3.6
2.6
4.3

92.0
69.8
3.3
2.4
4.0

94.5
73.4
3.4
2.3
4.3

69.0
59.2
2.2
1.5
3.1

2.8
2.2
4.9
4.2
(
13.7
17.5 \ 1.6

2.4
4.7
14.6
1.4

1.9
.9
2.1
2.3
11.0 } 10.7
1.2

1. 1
1.6
2.9
3.4
/
13.1
14.0 \ 1.8

2.4
3.4
13.3
2.0

4.3
1.4
3.0
2.2
2.1
1.5
11.3 | 12.7 17.1
1.4

6.1
3.6
23.4

5.6
3.2
22.0

4.9
5.0
2.8
2.9
r
15.6
19.5 1 2.2

5.4
2.8
16.3
2.1

3.6
1.9
11.3
1.1

Retail trade
General merchandise _ _
_ _ _ _ _ _
General stores with food
Grocery, with and without meats
Meat and seafood
Other food
Liquor
Motor vehicles
Automotive parts and accessories
Apparel
Shoes
Eating and drinking places _ _ _
Filling stations
_ __ ._
Home furnishings
Apnliances and radios
Drugs ._
Hardware and farm implements _
Lumber and building materials
Jewelry __ _ __ ___
_
_
Miscellaneous retail
__. _
Finance, insurance, and real estate

3.3
5.6
} 20.4

.1

20.0

18.7

17.7

23.2

20.0

16.3

18.6

19.4

18.3

16.4

19.0

22.8

26.9

20.3

19.7

18.9

20.6

14.9

103. 6

86.8

73.0

73.5

57.6

60.9

79.1

75.3

72.6

53.2

68.2

92.4

124.1

108.8

94.9

84.0

83.9

59.9

Hotels and other lodging places..
Laundry, cleaning and garment repair
Barber and beauty shops
Other personal services __
_ ___

6.3
13.4
17.6
10.7

5.5
10.5
14.1
9. 1

5.4
8.7
12.8
7.2

6.2
8.2
12.8
6.7

7.2
6.5
10.9
4.5

5.1
6.0
13.7
5.8

6.6
8.8
18.6
6.9

6.7
9.6
16.5
6.4

7.1
8.1
16.0
7.1

5.4
6.6
11.4
4.8

9.9
8.9
21.2
7.3

13.0
12.7
28.3
9.5

16.3
19.7
37.1
12.1

13.4
17.8
32.5
10.3

12.2
15.7
26.9
9.8

10.7
14.3
22.6
9.9

12.0
14.2
21.2
10.7

10.1
9.0
15.3
7.8

Business services
Automobile repair ___
Miscellaneous repair
Motion pictures
Other amusements

11.9
15.4
17.5
1.1
9.7

9.7
11.3
12.6
1.2
12.8

9.3
8.2
10.3
1.4
9.8

9.7
7.8
11.4
1.5
9.3

7.1
6.3
7.7
.8
6.4

5.4
9.8
9.0
.4
5.6

6.9
11.5
11.5
.6
7.7

6.9
10.7
9.1
.7
8.8

6.5
9.1
8.2
.9
9.6

4.7
6.8
5.4
.9
7.2

2.9
6.6
5.6
.7
5.2

3.8
9.8
7.3
1.0
6.9

5.6
13.5
10.1
1.3
8.2

5.7
12.0
9.3
1.3
6.5

5.5
9.6
7.8
1.1
6.3

5.1
7.4
6.8
1.2
5.9

5.5
6.8
6.2
1.4
6.0

3.4
4.7
4.2
.9
4.4

Service industries

1
Data for 1944 and 1946 appear in table 3, "Revised
2
Revised series comparable with the other business
3
Jan.-Sept.
1951.
4

Estimates of the Business Population, 1929-48," SURVEY OF CURRENT BUSINESS, June 1949.
population series.

Less than 50.
NOTE.—Detail will not necessarily add to totals because of rounding.
Source: U, S. Department of Commerce, Office of Business Economics.




by Edward F. Denison

Distribution of National Income
Pattern of Income Shares Since 1929
_IHIS review of income shifts since 1929 is devoted
chiefly to the distribution of the national income, which
measures the form in which earnings from current production
are distributed before they are reduced by direct taxes or
supplemented by transfer incomes. Some consideration is
given towards the end of the article, however, to modifications brought about by direct taxes and transfer payments.
With total national income of record size, it is not surprising that, in dollar terms, all major income shares currently
are high by historical standards. The compensation of employees, the income of business and professional proprietors,
corporate earnings, and rental income reached peak levels in
1951. The income of farm proprietors had been exceeded
only in 1948, arid net interest, though below previous maxima,
was at the highest point in 20 years.

Summary of changes
The relative positions of the different income shares have,
however, changed markedly from those of 1929. In 1951
compensation of employees was 65 percent of the national
income, a share larger by one-ninth than in 1929. The
position of corporate earnings before tax, at more than
15 percent of the total, had increased, proportionately, even
more — by three-tenths. Earnings of farm and nonfarm
proprietors each comprised somewhat smaller percentages of
national income in 1951 than in 1929, but they had exceeded
1929 as recently as 1948 and 1949, respectively. The major
long-term losses in position occurred in rental income and
net interest. Rental income had dropped in relative size
from 6% percent of the national income in 1929 to 3 percent
in 1951, and net interest from 7% to 2 percent.
These measurements, as already emphasized, are on a
before-tax basis. Deduction of taxes, which will be considered later, makes a considerable difference in this pattern,
especially with respect to the movement of corporate earnings which have been subjected to sharply increased tax
rates.
Cyclically, the two shares representing business costs —
compensation of employees and interest—have fluctuated
less widely than total income so their percentages of the total
have behaved counter-cyclically. The offset has been
mainly in the violently fluctuating percentages for corporate
earnings. However, the remaining three shares have shown
moderately wider cyclical fluctuations than aggregate
income.
In addition to such longer-term and cyclical movements,
the percentages reflect strongly distortions caused by the
war and such special occurrences as crop failures at home and
abroad.

Distributional and structural changes
A major purpose of this article is to distinguish between
two fundamentally different causes of shifting in the size of
NOTE: MR. DENISON IS ASSISTANT DIRECTOR OF THE OFFICE OF
BUSINESS
ECONOMICS.
http://fraser.stlouisfed.org/
16
Federal Reserve Bank of St. Louis

the income shares. First, the relative size of the shares may
change because of changes in the distribution of income
within a homogeneous group of enterprises of the same legal
form of organization, size-class, and industry. This type of
change has real meaning only for ordinary business enterprises, defined here as proprietorships, partnerships, and
corporations organized for profit. They have dominated
cyclical swings in the distribution of national income.
Second, the over-all income distribution is greatly influenced by structural changes in the economy. Far the most
important of these are shifts in the relative size of different
industries or activities in which income is normally
distributed differently.

Labor Share of Income
Ordinary business dominates cyclical
movements but long-term trend is
raised by government activity
90

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CORPORATE AND PROPRIETARY
BUSINESS

§ Z
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50

O

GOVERNMENT, HOUSEHOLDS,
AND OTHER

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a.

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o
O

40

\ \ i i it
1930
U. S. DEPARTMENT

35

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40

45

OF COMMERCE, OFFICE OF BUSINESS ECONOMICS

50
52"90

Such structural changes outside and, to a lesser extent,
within the ordinary business system largely, though not
entirely, account for the shifts in income distribution, other
than those of a cyclical nature, which have taken place
since 1929.

SURVEY OF CURRENT BUSINESS

June 1952

Compensation of employees
In which areas of the economy have the major changes in
the ratio of the compensation of employees to national income occurred? Are they the result of real changes in the
income distribution within homogeneous branches of the
economy, or merely of shifts in the weights by which the
various branches are combined?
To answer these questions ordinary business enterprises,
within which originated 78 percent of the national income in
1929 and 80 percent in 1950, must first be distinguished from
\he heterogeneous activities making up the rest of the
economy.

Long-time shift outside business sector
In 1950, the employee percentage of income originating
within the ordinary business sector was 62.9 as against 61.7
in 1929. Outside the ordinary business sector, employee
compensation comprised 70 percent of all income originating
as contrasted with 45 percent in 1929. It is in the latter
area, therefore, that an explanation must be sought for most
of the 6% percentage-point rise in the share of employees in
the total national income.
This explanation lies in the enormous shift in importance
among the various separate activities making up this heterogeneous fifth of the economy. There were sharp drops in the
importance as income-creating sources (relative to total
national income) of (1) individually-owned real property; (2)
investments abroad; and (3) brokers' loans to individuals.
Income flows deriving from these sources consist predominantly or entirely of rental income, interest, or profits.
In contrast, compensation of Government and Government-enterprise employees, to which there is no property
income counterpart, moved up from 5.9 percent of the
national income to 9.8 percent.
The high labor proportion of national income during the
war reflects entirely developments outside the ordinary
business sector—chiefly the swelling of Government military
and civilian payrolls.

Business dominates cyclical movements

17

prietorships and partnerships. So far as this breakdown
is relevant, therefore, the conclusion drawn for ordinary
business as a whole that 1929 and 1950 differed but little
is based on a general situation rather than offsetting behavior
among components or a change in the weights of the broad
branches of the economy.
(2) In the prewar period, the employee percentages for
nonfarm corporations follow a clearly defined cyclical pattern.
Cyclical irregularities in this period derive from the other
two components.

Importance of Labor Income
by Sectors
Labor share varies widely among sectors
of ordinary business
120
NONFARM CORPORATIONS

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100

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CO

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80

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a: 40

NONFARM UNINCORPORATED
BUSINESSES

a.
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20

Within the ordinary business system, the share of income
accruing to labor has varied chiefly in response to cyclical
influences, with no clear evidence of a long-term trend.
It advanced sharply from 62 percent in 1929 to 81 percent in
1932, then fell back to 65 percent by 1935. At this point
it was lower than in the period of corresponding activity in
the preceding downswing. It did not recede further with
continued business recovery in 1936 and 1937, but followed
the business cycle thereafter until the outbreak of war.
Throughout the war period the percentage was slightly
below the most prosperous peacetime years, but it had
exceeded 1929 slightly by 1946, and thereafter stabilized
except for a small dip in 1948. The extreme range of the
percentage in highly prosperous years—1929, and all the
years from 1941 through 1950—was from 59.5 in 1942 to
63.2 in 1947 and 1949. Excluding the war period, it was
from 61.4 (in 1948) to 63.2—a variation of less than 2
percentage points or 3 percent.

(3) After 1941, the comparative stability of the employee
percentage for all ordinary business is the result of offsetting
movements for corporate and noncorporate firms and of
shifts in their weights. From 1945 to 1947, when profits
in some industries were depressed by reconversion, the
labor percentage in the corporate sphere stood significantly
above 1942-44 and 1948-50. In the nonfarm unincorporated
sector, by contrast, the employee percentages were low in
1944 and 1945 and thereafter moved up as the corporate
percentages receded. Noncorporate firms were of negligible
importance in the industries affected by reconversion
problems.

Broad breakdown of ordinary business

Industry shifts

These movements can be analyzed in more detail by
subdividing the ordinary business economy. Data plotted
in an accompanying chart permit the following observations:
(1) In corporations and farms the employee share of
income originating was the same in 1950 as in 1929. The
slight increase in the labor share within ordinary business as
a whole
derived from a small advance within nonfarm pro


I

I I I I I I I I I I I I I I I I

1930

•
35

•
40

•
45

I

I I I

ijf. S» DEPARTMENT OF COMMERCE. OFFICE OF BUSINESS ECONOMICS

50
52-91

Employee percentages may also be calculated for individual
industries within the ordinary business sector. They can
then be utilized to segregate the effects upon the all-ordinarybusiness employee percentage of changes in the distribution
of income within individual industries from the effects of
shifts in the relative size of the industries. The results
of such an investigation are summarized in the following

SURVEY OF CURRENT BUSINESS

18

chart. Data plotted are averages of the results obtained
by use of 1929 and of given-year weights.
This analysis leads to the following conclusions as to the
causes of variation in the income share of employees within
the ordinary business system:
(1) During the depression, the industrial distribution was
less favorable to employees than in 1929 or other good years.

Factors Affecting Changes in Employee
Share of income in Ordinary Business
TOTAL DIFFERENCE IN EMPLOYEE PERCENTAGE
DIFFERENCE ATTRIBUTABLE TO CHANGED
INDUSTRIAL COMPOSITION
DIFFERENCE ATTRIBUTABLE TO CHANGED INCOME
DISTRIBUTION WITHIN INDUSTRIES

Change in Employee Percentage, 1929 to Specified Year
-4
-3
-2
-1
0
+1
+2
+3
+4

1937

1941

June 1952

This can be seen to some extent from the 1937 data, but
was far more pronounced in 1932, which is not shown on the
chart.
(2) During the war, the industrial distribution was
especially favorable to labor, while the income distribution
within industries was even less favorable than the percentages
based on combined data would suggest. To some extent
this was already true by 1941. Analysis of individualindustry data shows the wartime shift toward a larger
profits share to have occurred primarily in the nonwar rather
than in the war-related industries.
(3) The small differences between the 1929 aggregate
labor percentage and the percentages in the postwar years
are largely attributable to industrial composition changes.
In none of the 4 years from 1947 to 1950 can a difference
from 1929 of as much as 1 percentage point be ascribed
to income distribution changes within industries.

Employee share unchanged on comparable basis
Taken together, the foregoing analyses show rather conclusively that the marked increase from 1929 to 1950 in the
employee share of total national income is entirely due to
structural changes in the economy. The distribution of
income within comparable parts of the economy was, on
balance, about equally favorable to labor in 1929 and 1950.
There is a strong presumption from the preceding findings,
taken together with the fact that in individual industries
the proportion of total income which originated in corporations was apparently similar in 1929 and 1950, that this
latter statement is also applicable to the corporate sector
of the economy considered alone. This is confirmed more
directly by a calculation for 1929 and 1950 similar to that
shown in the chart but excluding farming and the professional
service
industries, which are dominated by noncorporate
1
firms.

1943

Net Interest
From $6.5 billion in 1929, the interest component of national income dropped in every year but one until it reached a
low of $2.9 billion in 1946. It then recovered to $5.4 billion
in 1950 and $5.7 billion in 1951.
From 1929 until 1932 the decline in interest payments,
consisting mostly of fixed charges which could not readily be
reduced, was less precipitate than that in other types of
income; interest moved from 7.5 percent to 13.0 percent of
aggregate income. Thereafter it dropped steadily to a low
of 1.6 percent in 1946. The subsequent increase in payments
brought this percentage back to 2.3 percent in 1949 and 1950,
from which it receded a little in 1951.

1947

1948

Meaning of net interest
1949

mmm

1950
i

i

U. S. DEPARTMENT

i

i

i

1

1

OF COMMERCE. OFFICE OF BUSINESS ECONOMICS

!

i
52-92

That the employee share of the sharply reduced national
income was high reflected entirely the reduction or disappearance of profits in almost every industry. Indeed,
had it not been for the unfavorable industry distribution,
the over-all labor proportion would have been even larger.



Net interest is intended, subject to a qualification in the
next paragraph, to represent the monetary and imputed
interest accruing to persons from private (nongovernmental)
sources. It may also be viewed as approximately the sum of
(1) monetary interest received by persons from private payors
other than financial intermediaries; and (2) total monetary
interest received by financial intermediaries in behalf of persons. This is true because interest receipts of financial intermediaries in excess of their monetary interest payments are
offset in national income measurement by out payments of
imputed interest. The phrase "in behalf of persons" is
1
Definitions adopted in measuring the national income affect the size of each share. This
is notably true in regard to the line drawn between direct taxes, which are included in the
national income, and indirect taxes, which are excluded. Exclusion of capital gains and losses
and inventory profits and losses is also important. Such definitional matters have been
fully discussed in the 1951 National Income supplement to the SURVEY OF CURRENT BUSINESS.
Income data utilized here are those published in that source and the May 1952 SURVEY OF
CURRENT BUSINESS, together with underlying worksheet material, except for a preliminary
adjustment of the 1949-51 corporate profits data to levels indicated by Bureau of Internal
Revenue tabulations for 1949. Lack of detailed data for 1951 has necessitated ending some
of the charts and analyses with 1950.

SUKVEY OF CURRENT BUSINESS

June 1952

necessary because part of the interest received by financial
intermediaries is balanced by monetary and, in the case of
banks, imputed interest payments not to individuals but to
other businesses.
An understatement of net interest in terms of this description results from the treatment of Government interest flows.
To the extent that Government interest is received by corporations other than financial intermediaries, or is received by
banks and balanced in national income accounting by imputed interest payments to businesses, it results in an understatement of net interest and a corresponding overstatement
of business earnings from operations.
An estimate of the understatement resulting from this
source, together with the net interest share after adjustment
to include it, is presented for 3 years in the addendum to
table 1. The share of interest in the national income would
drop slightly more, in percentage points, from 1929 to 1950
if the adjusted figures were substituted for the unadjusted.

accounted for more than two-thirds of the total dollar
increase. All other major private interest flows in 1950
remained below 1929 levels even in dollar terms.

Interest decline due mainly to debt
For interest to have maintained its former percentage of
the national income it would have been necessary for both
interest rates and the ratio of debt to national income to
remain unchanged—unless changes in the two determinants
were offsetting. In table 2 the changes in these two factors
are isolated for each of the major types of private interest
flows.
Table 2.—Analysis of Shifts in the Importance of Interest in the
National Income, Major Private Interest Flows
[Indexes: 1929=100]

Decline in interest share general

Interest rates

Table 1.—Selected Types of Monetary Interest Payments
[Billions of dollars]

1929

Index of adjusted net interest (1929=100)

1 40

2 44

1. J 2

1.74
1.44

.44
.95
58

-

.22
.84
.49
.02
14

4.23

.26
.93
.05
21

7.07

6 54

2 92

5 39

6.92

3.76

6. 10

.38

Index of sum of selected types of payments (1929=100).

1950

I 85

8.14

Sum of selected types
Addendum:
Net interest, as published
Adjustment for Government interest flows
Net interest, adjusted

1946

1.45
2.29

.58

__

.84

.71

100

54

88

100

52

87

Source: U. S. Department of Commerce, Office of Business Economics.

credit. Special attention is drawn to the depressing effect of
interest paid on brokers' loans, which amounted to nearly $1
billion in 1929 and has been almost negligible thereafter.
However, it is evident that the decline since 1929 in the importance of interest, relative to the national income, has been
general throughout the economy.
The table also highlights the importance of interest payments on urban residential mortgages, and consumer credit
in the partial recovery of interest after 1946. Each type had
advanced approximately $1 billion by 1950; together they
2

Interest on brokers' loans is entirely paid by individuals to brokers. In the period when
it was important, however, it was mostly passed on by the brokers to the banks, as the brokers
were extending credit with borrowed funds. To avoid double-counting in the analysis,
interest paid by noncorporate security and commodity brokers, although large, is omitted
from table 1.




Ratio of debt to
national income

Ratio of interest
payments to national income

Type of debt

The major sources of private interest are shown in table 1.
Financial intermediaries are omitted because they do not
originate interest. These data represent gross monetary
interest payments and thus (even though some small flows
have been omitted) exceed the adjusted net interest aggregate
because some interest is paid to businesses other than financial intermediaries.2
These seven types of interest flows account for the major
changes in adjusted net interest. They can be analyzed to
discover the sources of the sharp relative decline in the
interest share.
The total national income in 1946 (when interest was at its
lowest point) was 2.1 times, and in 1950, 2.7 times, as large as
in 1929. No major type of interest came close to keeping
pace except, in the 1929-50 comparison, interest on consumer

Monetary interest payments by type of debt:
Mortgages on nonf arm dwellings
Farm mortgages
_ _
Debt of transportation and utility corporations
Debt of other nonbanking corporations
Consumer credit
Loans from brokers . . .
_.

19

Mortgages on nonf arm dwellings _
Farm mortgages
Debt of transportation and utility corporations . __ . _.
Debt of other nonbanking corporations _
_
. .
Consumer credit l
Loans from brokers
Weighted (1929 weights) indexes, 6 debt components

1929

1946

1950

1929

1946

1950

1929

1946

100
100

78
76

75
78

100
100

47
24

64
22

100
100

37
18

48
17

1950

100

75

67

100

38

35

100

28

24

100
100
100

53
104
33

55
112
38

100
100
100

44
52
4

51
107
5

100
100
100

24
54
1

28
121
2

100

66

65

100

38

46

100

226

233

1
2

See footnote 3 to the text.
Index of the actual ratio of interest payments to national income, based on combined debt
and interest data for the 6 series. Computed as the product of the indexes for (1) the ratio of
debt to national income and (2) interest rates, the weighted indexes would be 25 in 1946 and
30 in 1950.
Source: U. S. Department of Commerce, Office of Business Economics.

Had the ratio of debt of each type to national income been
the same in 1946 as in 1929, interest rate changes would have
reduced by 34 percent the ratio of these types of interest to the
national income. Had interest rates of each type remained
unchanged, the behavior of debt alone would have reduced by
62 percent the ratio of these types of interest to the national
income.
This ratio actually fell by almost three-fourths from 1929
to 1946 under the combined influence of the two factors.
The analysis suggests that about two-thirds of this decline
should be ascribed to the fact that debt did not increase so
much as national income and about one-third to lowered
interest rates.
Interest rates, properly weighted for this purpose, showed
little change from 1946 to 1950; the rise hi the interest share
of the national income was entirely due to the advance3 in
debt—particularly urban mortgages and consumer credit.

Interest from abroad smaller
The foreign balance adjustment was omitted from table 2
in order to confine it to interest paid in the United States.
The return on private portfolio investments by Americans
was about 6 percent in 1929 and 3 percent in 1950. This
reduction in rate of return was less important than the behavior of the amount of such investments in causing the proportion of national income represented by interest from abroad
to dwindle.
3
In table 2 the effort was made in each case to confine the debt data utilized to interestbearing types. In the case of corporations, however, it was necessary to include accounts
payable. Changes in the composition of interest-bearing consumer debt cause the interest
rate index in both 1946 and 1950 to exceed 1929, although rates on individual types of debt had
declined somewhat. Compositional shifts may also affect the corporate indexes, although on
an over-all basis the percentage breakdown between long-term and short-term debt was
similar in the 3 years shown.

SURVEY OF CURRENT BUSINESS

20

Business Earnings
All business earnings arise in the ordinary business sector
except the net inflow of dividends and branch profits from
abroad,
and the refunds and dividends of farmers' cooperatives.4 With these exceptions, the percentage of the total
national income comprised by each type of business income—
the income of farm proprietors, the income of business and
professional proprietorships and partnerships, and corporate
profits before tax, each measured so as to exclude inventory
profits and losses—depends in the first instance upon (1) the
importance of the sector in which it originates and (2) the
ratio of business income to total income within the relevant
sector. The two influences are isolated for 1929 and 1950
in table 3.
Changes in the importance of the sectors reflect almost
entirely the shifting industrial composition of the national
income. They tended to boost the shares of corporate
earnings and nonfarm proprietors in the total national income, while lowering the share of farm proprietors.
Table 3.—Analysis of the Ratio of Business Earnings to National
Income, by Types
1929

Ratio of business earnings to total national income:
Farms
Nonfarm proprietorships
and partnerships 1
Nonfarm corporations 2

1950

n. 065

0. 058
.093
.140

.094
.115

Ratio of income originating in sector to total national income:
Farms
Nonfarm proprietorships and partnerships
Nonfarm corporations

.089
.178
.515

Ratio of business earnings to total income originating in sector:
Farms
Nonfarm proprietorships and partnerships
Nonfarm corporations

.223

;

.072
.190
.548

729

1
2

Excludes income of cooperatives.
Excludes the net inflow of dividends and branch profits from abroad.
Source: Office of Business Economics, U. 3. Department of Commerce.

Particular interest centers in the second factor, the ratio
of business income to total income in each sector. For each
of the three business sectors, the ratio of business earnings,
and of business earnings plus net interest, to total income is
shown in the accompanying chart. The latter percentage
falls short of 100 by the share of employees, the only other
type of income which originates in ordinary business.

Farms
The most striking development in the distribution of
income within the farm sector is the long-term shift from
interest to proprietors' income. In 1929 interest accounted
for 11 percent and farm operators' net income for 73 percent
of income originating in agriculture; in 1950 these proportions were 3 and 81. This shift, which had been largely
completed by 1942, was partly due to a reduction of more
than one-fifth in mortgage interest rates, but primarily to
the drop in the ratio of debt to income.
There is no ascertain able trend in the proportion of farm
national income going to interest recipients and proprietors
combined. However, this proportion tends to be high when
income is rising and low when it is falling because of the
greater short-run stability of farm wages.
Aided by this tendency, the long-term shift from interest
to proprietors' income permitted a percentage share of total
national income for farm proprietors in 1951 only onetwentieth under 1929, despite the fact that the proportion
* The net inflow from abroad amounted to 0.1 percent of the national income in 1929 and
0.3 percent in 1950; to this extent it contributed to the rise in the ratio of total corporate profits
to national income. Refunds and dividends of farmers' cooperatives equaled less than 0.1
percent of national'income in both years.




June 1952

of national income which originated in agriculture was
smaller by one-seventh. This 1951 distribution was somewhat more favorable to farmers than that for 1950, which
is shown in table 3. It should be noted that it is only in
the past 3 years that farm earnings have fallen short of
their 1929 percentage of the total national income. With
farm prices especially favorable, they were above their 1929
proportion in all but one year from 1941 through 1948.

Nonfarm proprietors* income
The ratio of proprietors' earnings to income originating
in nonfarm proprietorships and partnerships was almost 4
points lower in 1950 than in 1929. Most of this difference
can be traced to the professional services. In this area
there was a marked increase in the number of employees
per proprietor
(partly due to compositional changes, though
the tendenc}7 was general) and a corresponding rise in the
ratio of pay rolls to proprietors' income. In addition, a
decline in the relative importance of the professions within
the nonfarm proprietorship and partnership total contributed to the over-all decline, since in both years proprietors' income was a much higher percentage of total
income originating in the professions than in the remainder
of the noncorporate economy.
Another industry in which change away from proprietors'
earnings was marked is security and commodity brokerage.
Here, the switch was between proprietors' income and net
interest—which was substantially negative in 1929.
In the remainder of the noncorporate economy there was.
in the aggregate, no difference between the proprietors'
share of total income in 1929 and 1950. This does not, of
course, preclude offsetting changes among individual industries, nor does it take account of an apparent reduction in
the proprietors' share in 1951.
Particularly noteworthy is the bulge which appeared in
the proprietors' share of noncorporate business income during and just after World War II. Small firms, particularly
unincorporated manufacturing and trade establishments,
enjoyed exceptionally favorable profits during the period of
shortages and controls.

Corporate earnings
The principal change in the distribution of income within
nonfarm corporations has been the same as that in agriculture: an increase in corporate earnings at the expense of
interest.5 In the 1948-51 period corporate earnings, computed in the national income on a bef ore-tax basis, averaged
about 25% percent of income originating in corporate business, as compared with 22.3 percent in 1929. Net interest
dropped from 3.6 percent in 1929 to about 0.5 percent in
the postwar period, while the compensation of employees'
percentage remained about the same.

Factors in higher profit proportion
Previous analysis indicates that the rise in the profits
share was not the result of a different industrial distribution.
Two of the major developments which may have contributed
to the higher profit proportion may be mentioned, however.
One is the advance in price levels which has raised replacement costs of capital goods above their average original cost.
Adjustment of both 1929 and 1950 capital consumption
charges to a replacement-cost basis would cut the increase
in the profits proportion of income originating in corporate
5 It has been correctly pointed out that in national income accounting the existence of
intercorporate dividend and interest flows introduces an essentially arbitrary element into
the breakdown between the interest and profit shares within the corporate sector. However, in the period under consideration there was no great change in the relationship between
interest receipts and interest payments of nonbanking corporations. The drop in the interest
share was due to the decline in'interest payments, so that the distinction emphasized in the
text appears warranted.

SURVEY OF CURRENT BUSINESS

June 1952

21

business by an estimated 1 to \% percentage points. However, it is sometimes contended that improvements in the
efficiency of plant and equipment and their utilization have
largely or entirely offset the nominal price advances, and
that such an adjustment is not a proper one.

The second major development is the growth of corporate
income and excess profits taxes. Over a period* of more
than two decades some shifting of this tax may have occurred
and contributed to the advance in the profits share on a
before-tax basis. The results on an after-tax basis are discussed in the final portion of this analysis.

Business Earnings and Net Interest

Profits movement within the period
In the prewar period the ratio of corporate earnings to
income originating in nonfarm corporations followed the
business cycle closely and regularly. The variation was
extreme, from 22.3 percent in 1929 down to minus 11.4 percent in 1933—a swing of 33 percentage points—and back to
16.2 percent with the partial business recovery achieved by
1937. By 1941 it had reached 25.5 percent—equal to its
1948-51 level—and moved a little higher in the early war
years.
The reconversion process from 1945 to 1947 had a much
more pronounced effect upon profits than on most economic
indexes, as the earnings percentage dipped to a low of 20.4
in 1946. The decline in earnings was confined to the metalmanufacturing industries, transportation, and some types of
mining.
From 1948 through 1951, despite the sharp changes which
occurred in prices, wage rates, tax rates, and the composition
of demand for business products, there was little variation
in the corporate earnings percentage. Certainly, changes
were no greater than could be explained by fluctuations in
the rate of economic activity.

as percentage of total income by sectors
PROPRIETORS*OR CORPORATE EARNINGS
PLUS INTEREST
PROPRIETORS9 OR CORPORATE EARNINGS

TOO

90

80

70

o
a>
60

Rental Income of Person
Rental income, which amounted to more than 6 percent
of the national income in 1929, fell somewhat more than the
total in the downswing of the great depression. It failed to
exhibit a proportional recovery in the upward phase of the
cycle, however, and by 1942 was below 4 percent of total
income. In 1950 this" percentage was down to 3.4 and in
1951, to 3.0.

Nonfarm Unincorporated

50

Character of rental income

a?
E
o
o

40

£

30

01
O

Rental income of persons measures the net earnings of
persons from their holdings of real property, including the
imputed net rent credited to owner-occupants of nonfarm
homes. It also includes a relatively small amount of royalties
received by persons from patents, copyrights, and rights to
natural resources.
Rental income resembles proprietors' income in that it is
a residual share computed by deducting costs from value of
product and also in that it represents a composite of what
are analytically labor, interest, and profit components. The
labor-return ingredient in rent, however, may be presumed to
be relatively small, since by definition only incidental labor
services are involved; the interest component is probably
predominant.

Nonfarm Corporations

20

"c

Q>
O

w

a>

a.

10

Lag in rental rates and gross rents

-10

-20
1930
U S, DEPARTMENT

35

•
40

•
45

OF COMMERCE. OFFICE OF BUSINESS ECONOMICS




50
52~93

As a proportion of the national income, monetary rental
income (as distinguished from imputed rent on owneroccupied homes) declined a little less than one-fourth from
1929 to 1950, about equal to the reduction in interest rates
on urban mortgages. The movements of monetary rental
income from each of the major types of property holdings
have been quite similar.
Whether or not it was as the consequence of lower interest
rates, rent control, or other causes, the principal immediate
reason for the long-term relative decline of rental income
was apparently the fall in rental rates relative to general
prices. While rental-rate data for nonresidential properties

SURVEY OF CURRENT BUSINESS

22

are extremely sparse, such information is available for rented
residential property, which alone is responsible for twofifths or more of monetary rental income. They show that
the ratio of the Bureau of Labor Statistics' urban residential
rent index to its general consumers' price index dropped by
one-third from 1929 to 1950 or to early 1952.
Primarily as a result of such differential price movements,
the ratio of gross monetary rents received by persons to
national income fell by more than two-fifths. Persons received about the same proportion of total rent payments in
the 2 years, so a change of this kind was not a factor in the
relative decline. The shift from tenant to owner-occupancy
of homes which occurred contributed to a fairly small extent.

June 1952

fell by more than one-half. The pattern of change, moreover,
was quite different from that of monetary rents. Aided by
the substantial shift from tenant to owner-occupancy, the
1929-50 percentage increase in actual expenses (including
depreciation) of owner-occupants was quite as large as that
in the national income, but the increase in gross rents,
which are valued by reference to rental rates on rented
dwellings, was much smaller. In consequence, the ratio of
net rental income to gross rental values fell by two-fifths.
It should not be overlooked that the rental data are much
influenced by the method of calculating depreciation and
also by the existence of residential rent controls.
Transfer Incomes and After-Tax Distribution

Table 4.—Derivation of Private Income Before and After Liability
for Allocable Taxes on Income, 1929 and 1948

[Billions of dollars]

Year and type of income

Equals:
Add:
Naprivate
tional transincome
fer
income incomes
before
tax

Less:
corporate
profits
taxes and
social insurance
contributions

Equals:
Less:
private
perincome
after
sonal
income allocable
taxes taxes on
income

1929

Compensation of employees
Income of unincorporated enterprises and inventory valuation
adjustment:
Business and professional
Farm
Rental income of persons
Corporate profits and inventory
valuation adjustment
._
Interest
Total excluding unallocated
transfer incomes _ _

50.8

0.1

50.9

0.2

8.3
57
5.8

8.3
5 7
5.8

0.1

50.6

.1
.0
.0

8.1
5.7
5.8

10.3
6 5

10.3
75

1.4

10

.3
.1

8.6
7.4

87.4

1.1

88.4

1.6

.7

86.2

14

1.4

.1

2.5

89.8

1.6

i.ff

87.5

2.2

142.4

4.7

10.1

127.6

2.8
.5
.4

19.3
17.1
7.1

Unallocated transfer incomes
Total including unallocated
transfer incomes

1.3

1948

Compensation of employees
Income of unincorporated enterprises and inventory valuation
adjustment:
Business and professional
Farm
Rental income of persons
Corporate profits and inventory
valuation adjustment
Interest
Total excluding unallocated
transfer incomes
Unallocated transfer incomes
Total including unallocated
transfer incomes
1

140.2

22.1
17.7
7 5

22.1
17.7
7 5
31 7
4.3

31 7
8.8

13.0

4 5

1.6
.3

17.1
8.5

223. o

6.7

230. 1

17.7

15.7

196.7

9 1

91

.5

15 7

239. 2

18. 2

The distribution of earned income which has been discussed thus far is altered significantly when account is
taken of the receipt of transfer incomes and the payment of
taxes on income. The effects of these transactions upon
longer-run changes in the share distribution of income are
examined in this section.
The emphasis here is upon types of income flows rather
than upon changes in the welfare of particular groups in the
community. There is no appraisal of the total burden of
taxes as indirect taxes and even direct taxes not levied upon
earned or transfer incomes are outside the scope of the
present analysis. Moreover, consideration is not given to
the benefits derived from Government expenditures other
than money transfer payments.

Private income before and after tax
In table 4, transfer incomes are added to 1929 and 1948
national income to secure total private incomes before taxes.
Taxes allocable to particular types of income (including social insurance contributions) are then deducted from this
aggregate to secure private income after such taxes. The tax
Table 5.—Distribution of Income by Three Income Concepts,

1929 and 1948
National income
Type of income

8.6
i 15.7

Private income
after allocable
taxes on income

1948 Index 1929 1948 Index 1929 1948 Index
of
of
of
perperpercent
cent
Percent
Percent
Percent
cent

1929

205.3
Compensation of employees

Excludes taxes assigned to capital gains and losses, transfers among individuals, etc.

NOTE.—Detail will not necessarily add to total because of rounding.
Source: U.S. Department of Commerce, Office of Business Economics.

The influence of lagging gross rental receipts upon rental
income was partially offset by an increased ratio of net rent
to gross rent, so that rental income from rented property
more nearly kept pace with the advance in total income.
This pattern of lagging gross rental receipts and higher
net-gross ratios applied to farm property, tenant-occupied
residential property, and commercial and industrial property
alike.

Imputed rent
Imputed rent made a poorer showing than monetary rental
income from 1929 to 1950. It increased dollarwise by less
than one-fourth and, as a proportion of the national income,



Private income
before taxes

Income of unincorpoiated enterprises and inventory valuation adjustment:
Business and professional- ..
Farm
Rental income of persons
Corporate profits and inventory valuation adjustment
Interest

58.1

62.7

108

57.5

61.9

108

58.7

64.8

111

9.5

6.5

9.9
7.9

104
122

9.3
6.4

9.6
7.7

103
120

9.4
6.6

9.8
8.7

104
133

6.7

3.4

51

6.6

3.3

50

6.7

3.6

54

11.8

14.2

121

11.6

13.8

118

10.0

8.7

87

7.5

1.9

26

8.5

3.8

45

8.6

4.3

50

100 100.0 100.0

100

Total excluding unallocated transfer incomes. . 100.0 100.0

100 100.0 10®. 0

NOTE.—Percentages and indexes calculated from unrounded data. Detail will not necessarily add to total because of rounding.
Source: U. S. Department of Commerce, Office of Business Economics.

data represent tax liability on income earned or received
during the period, rather than actual payments.
Some transfers and taxes can be related in total to a
particular income share. With one exception, social insur-

SUEVEY OF CURRENT BUSINESS

June 1952

ance contributions and benefit payments are assigned to
labor income, since in the years concerned the plans were
related to wage and salary earnings. Left unallocated are
contributions to and benefit payments from Government
life insurance, as well as all transfer payments other than
social insurance benefits, which consist largely of payments
to veterans and their dependents and to persons without
other* sources of income. Net Government interest payments are combined with private interest. Corporate
profits tax is assigned to corporate earnings.
Because of exemptions and progressive rates, allocation of
personal income taxes is possible only if one basic condition
|s accepted: that for each taxpayer it is permissible to allocate his income tax liability among various types of income
in proportion to his reported receipts of taxable income.
Tabulations of the Bureau of Internal Revenue published in
Statistics of Income furnish tax and income data classified
by highly detailed income-size classes, so that a procedure
can be followed which allocates personal income taxes in
close correspondence to this condition. The most recent
year for which such data are available, however, is 1948.6

Differential

impact of taxes

The ratio of personal income tax to income varies widely
among the different income shares for three major reasons.
First, definitions of taxable income differ from the definitions followed in national income estimation; the inclusion
in the latter of imputed incomes and differences in accounting for business inventories, in particular, should be recalled.
Second, the importance of tax evasion and avoidance varies
as among different types of income. Third, the distribution
of income among income-size classes, which are subject to
different tax rates, varies.
These differences, together with the imposition of corporate
income taxes and collection of social insurance contributions
resulted in 1948 in a ratio of allocable taxes to private income before taxes of 3 to 5 percent each for farm proprietors'
6 Several comments about the distribution of personal income taxes are required: (1) Some
estimation is required to bring Statistics of Income categories of income into accordance with
those used here, but the possible error is not such as appreciably to affect the after-tax data.
(2) The amount of tax allocable to net capital gains is omitted from the table; in 1929 this was
a very high proportion of all personal income taxes. (A similar deduction from corporate
profits tax liability was not made. If made, it would reduce this tax by about $0.1 billion in
1929 and $0.4 billion in 1948, amounts insufficient to alter the analysis appreciably.) Also
excluded are minor amounts of tax on transfers of income among individuals (e. g., alimony
payments) and on transfer payments. The totals shown in table 5 therefore fall short of total
personal income tax liability. (3) Taxes on taxable fiduciaries, and the personal income tax
initially allocable to income from fiduciaries, are assigned to shares in accordance with the
(partially estimated) income of the fiduciary. (4) Additional Federal tax liability arising
through audit or amendment of returns is omitted. (5) In 1929, normal tax and surtax were
separately distributed; the separate tax on long-term capital gains was omitted. (6) State
personal income taxes, which are relatively small, were distributed like Federal taxes.

income, interest, and rental income; 10% percent for labor income; 12}£ percent for the income of business and professional
proprietors; and 46 percent for corporate earnings. The
rate for labor income, it should be noted, includes social
insurance contributions with which are associated present
and future benefit payments. In 1929, of course, tax rates
were much lower on all types of income.
Percentage distributions of national income and of private
income before and after allocable taxes (exclusive of unallocated transfer payments) are presented in table 5 for 1929
and 1948. Since substantial shifts both in the distribution
of national income and in tax rates have taken place since
1948, the emphasis here is less upon the changes in the distributions as such than upon the way in which high postwar
transfers and taxes have caused the long-term shifts on the
three bases to differ.
These differences may be presumed to have persisted to
the present, although in even more pronounced form since
current tax rates are higher than those prevailing in 1948.
In 1951, it may be noted, the ratio of corporate profits tax
liability to corporate earnings was 0.58 as against 0.41 in
1948; the ratio of declared Federal personal income tax
liability to personal income was up from 0.075 to 0.096; and
pay-roll tax rates were also higher.

Taxes heaviest on corporate earnings
The most striking point shown by table 5 is not a surprising
one: that corporate earnings have increased at a larger rate
than total income on a before-tax basis, but at a smaller rate
when both are measured after taxes. While the share of
corporate earnings in the national income increased by 21
percent, on a private income-after-tax basis it declined by
13 percent.
Inclusion of Government interest, which advanced sharply
in this period, together with the low effective tax rate against
interest, limited the decline in the interest share of private
income after tax to one-half, as against a decline of threefourths in the interest share of national income.
The performance of business and professional proprietors7
income was the same on either basis, while all other shares
did better on the basis of private income after taxes.
A comparison of the distributions of private income before
and after allocable taxes, to narrow the difference to tax
effects, shows the after-tax distribution to be the more
favorable to all shares except corporate earnings, with respect
both to level and 1929-48 movement. In the case of the
income of business and professional proprietors, however,
the difference was slight.

National Income
-Xr ^upptement
th ^Jurveu of (Current
'tpplement to the

THE ENLARGED NEW EDITION-FIRST SINCE 1947-CONTAINS
•
•
•
•
•

National income and product statistics, 1929-1950
A review of economic trends in the past two decades
The basic principles underlying national accounts
An explanation of methods and sources
Allowance for inflation; constant vs. current dollars

This 1951 edition, like the original, is not included in the Survey of Current Business subscription, but is sold as
a separate publication by the Superintendent of Documents and affiliated sales agencies. A list of Department of
Commerce field offices where it may be procured appears on the inside front cover of this magazine. Price $1.00.




23

SURVEY OF CURRENT BUSINESS

24

June 1952

flew or Revised STATISTICAL SERIES
Wholesale Prices (U. S. Department of Labor Indexes): Revised Series for Page S-5 l
[1947^9=100]
AH commodities
Month

January _
February
March _
April
May
June

__

_
. ...

July
... .
August
September..- _ ._ ...
October. - _ _
November
December
Average

1946

1926

1927

1928

1929

1930

1931

1932

1933

1934

1935

1936

1937

1938

1939

1940

1941

1942

1943

1944

1945

67.0
66.3
65.4
65.2
65.3
65.3

62.0
62.7
62.3
61.6
61.1
61.2

62.6
62.3
62.1
62.8
63.4
62.9

62.3
62.0
62.5
62.1
61.5
61.9

60.1
59.4
58.6
58.5
57.7
56.4

50.8
49.9
49.4
48.6
47.6
46.9

43.8
43.1
42.9
42.6
41.9
41.6

39.6
38.8
39.1
39.2
40.8
42.2

46.9
47.8
47.9
47.7
47.9
48.5

51.2
51.7
51.6
52.0
52.1
51.9

52.4
52.4
51.7
51.8
51.1
51.5

55.8
56.1
57.0
57.2
56.8
56.6

52.6
51.9
51.8
51.1
50.8
50.9

50.0
50.0
49.9
49.5
49.5
49.2

51.6
51.2
50.9
51.1
50.9
50.4

52.5
52.4
53.0
54.1
55.2
56.6

62.4
62.8
63.4
64.1
64.2
64.1

66.2
66.6
67.2
67.4
67.6
67.4

67.1
67.3
67.5
67.5
67.6
67.8

68.2
68.3
68.4
68.7
68.9
69.0

69.6
70.0
70.8
71.6
72. 4
73.3

64.6
64.4
64.8
64.6
64.0
63.6

61.3
61.9
62.6
62.8
62.6
62.6

63. 3
63.4
64.1
62.9
62.3
62.3

62.7
62.6
62.5
61.8
60.7
60.6

54.8
54.8
54.9
53.9
52.8
51.7

46.8
46.9
46.3
45.7
45.6
44.6

41.9
42.3
42.5
41.9
41.5
40.7

44.8
45.2
46.0
46.3
46.2
46.0

48.6
49.7
50.4
49.7
49.8
50.0

51.6
52.3
52.4
52.3
52.4
52.6

52.3
53.0
53.0
53.0
53.6
54.7

57.2
56.9
56.8
55.5
54.1
53.1

51.2
50.7
50.9
50.5
50.3
50.1

49.0
48.7
51.4
51.6
51.4
51.5

50.5
50.3
50.7
51.2
51.7
52.0

57.7
58.7
59.7
60.1
60.1
60.9

64.1
64.4
64.8
65.0
65.2
65.6

67.1
67.0
67.0
67.0
66.9
67.1

67.7
67.5
67.6
67.7
67.8
68.0

68.9
68.7
68.4
68.8
69.4
69.6

81.1
83.9
80.6
87.2
90.8
91.6

65.0

62.0

62.9

61.9

56.1

47.4

42.1

42.8

48.7

52.0

52.5

56.1

51.1

50.1

51.1

56.8

64.2

67.0

67.6

68.8

78.7

All commodities other than farm products and foods
Month

January
February _
March
April ...
Me.v.
June
.
July
.
August
September
October
November
December

._ _

_ _

.

.
_ __

Average

1926

1927

1928

1929

1930

1931

1932

1933

1934

1935

1936

1937

1938

1939 ; 1940

1941

1942

1943

1944

1945

73.3
72.7
72.0
71.5
71.6
71.6

69.0
68.5
67.6
66.9
66.8
66.8

66.4
66.4
66.2
66.3
66.4
66.2

66.0
65.7
65.9
65.6
65.4
65.7

64.0
63.6
63.1
62.8
62.4
61.3

56.5
56.0
55.2
54.2
53.7
53.0

51.3
51.0
50.7
50.7
50.3
50.1

48.1
47.2
47.0
46.7
47.5
49.2

56.0
56.3
56.1
56.2
56.4
55.9

55.6
55.4
55.3
55.2
55.5
55.8

56.3
56.5
56.4
56.4
56.3
56.4

59.6
60.1
61.2
61.8
61.7
61.5

59.7
59.4
59.1
58.6
58.4
58.1

57.3
57.4
57.5
57.6
57.6
57.4

60.0
59.5
59.3
59.0
59.0
58.8

60.3
60.3
60.7
61.4
62.5
63.4

67.6
67.8
68.1
68.3
68.4
68.4

68.7
68.8
69.0
69.1
69.2
69.2

69.9
70.1
70.1
70.3
70.4
70.4

70.8
70.9
71.0
71.0
71.1
71.2

72.1
72.4
73.1
73.8
74.3
75.5

71.1
71.2
71.2
71.1
70.9
70.1

66.8
67.0
67.1
66.9
66.5
66.7

66.2
66.4
66.5
66.4
66.5
66.5

65.5
65.3
65.5
65.5
64.9
64.7

60.4
59.8
59.5
58.7
58.0
57.4

52.9
53.0
52.8
52.2
52.5
51.7

49.8
50.1
50.3
50.2
49.9
49.3

51.7
53.0
54.4
55.2
55.2
55.4

56.0
56.0
56.0
55.8
55.8
55.7

55.8
55.7
55.6
56.0
56.3
56.3

56.8
57.0
56.9
57.3
57.9
58.8

61.7
61.6
61.4
60.9
60.2
59.8

58.2
58.2
58.2
58.0
57.6
57.4

57.3
57.3
58.7
59.9
60.1
60.0

58.8
58.7
58.8
59.7
60.2
60.2

64.1
64.9
65.5
66.8
66.9
67.0

68.4
68.3
68.3
68.3
68.5
68.6

69.3
69.4
69.5
69.5
69.6
69.8

70.4
70.5
70.5
70.5
70.6
70.7

71.3
71.4
71.4
71.5
71.7
71.9

78.3
79.8
80.2
82.8
86.3
89.2

71.5

67.2

66.4

65.5

60.9

53.6

50.2

50.9

56.0

55.7

56.9

61.0

58.4

58.1

59.4

63.7

68.3

69.3

70.4

71.3

78.3

1946

i Compiled by the 17. S. Department of Labor, Bureau of Labor Statistics. For monthly data for 1947-51 see p. 22 of the March 1952 SURVEY OF CURRENT BUSINESS.

Purchasing Power of the Dollar Measured by Wholesale Prices: Revisions for Page S-6l
[1935-39=100]
!

Average for year
1913

Month

115.3

1914
118.1

1915
115.7

1916
94.1

1917
68.5

1918

1919

61.3

58.1

1920
52.1

1921
82.4

1922
oo 9
OO. /

;
|

'
1923

80.0

i

1924
82.0

1925
77.7

Monthly data
1926

January
February
Ad! arch
\pril
May
June
. - _Tuly
August
September
October
November
December

.

. .
_

__ _
_ _ _ __
- - -

. __

\ verage

July
August
September October - _ - . _
November
December
Average
1

--

__
_ -

_ _

_

_

_ _ _.
_

_ _ _

1928

1929

1930

1931

1932

1933

1934

1935

1936

1937

1938

78.1
78.8
79.9
80.2
80.0
80.0

84.3
83.4
83.9
84.8
85.6
85.4

83.5
83.9
84.1
83.2
82.4
83.1

83.9
84.3
83.6
84.1
85.0
84.5

87.0
88.0
89.2
89.3
90.6
92.7

102.9
104.8
105. 8
107.6
109.8
111.5

119.4
121.3
121.9
122.7
124.8
125.7

132.0
134.7
133.7
133.3
128.2
123.9

111.5
109.4
109.2
109.6
109.2
107.8

102.1
101.1
101.3
100.5
100.3
100.7

99.7
99.7
101.1
100.9
102.3
101.5

93.7
93.2
91.7
91.4
92.0
92.4

99.4
100.7
100.9
102.3
102.9
102.7

80.9
81.2
80.6
80.9
81.7
82.2

85.2
84.5
83.5
83.2
83.5
83.5

82.6
82.4
81.5
83.1
83.9
83.9

83.4
83.5
83.6
84.6
86.1
86.2

95.4
95.4
95.2
97.0
99.0
101.1

111.7
111.5
112.9
114.4
114.7
117.2

124.8
123.6
123.0
124.8
126.0
128.5

116.7
115.6
113.7
112.9
113.2
113. 7

107.6
105.2
103.7
105.2
105. 0
104.6

101.3
99.9
99.7
99.9
99.7
99.4

99.9
98.6
98.6
98.6
97.5
95.6

91.4
91.8
92.0
94.2
96.6
98.4

102.1
103.1
102.7
103.5
103.9
104.3

80.4

84.3

83.1

84.5

93.2

110.3

124.2

122.1

107.3

100.5

99.6

93.2

102.3

1939

January
February. __
March
\pril
May
June

1927

1940

1941

1942

1943

1944

1945

1946

1947

1948

1949

1950

1951

104.6
104.6
104.8
105.6
105.6
106.3

101.3
102.1
102.7
102.3
102.7
103.7

99.6
99.7
98.6
96.6
94.7
92.4

83.8
83.2
82.4
81.5
81.4
81.5

79.0
78.5
77.8
77.6
77.3
77.6

77.9
77.7
77.4
77.4
77.3
77.1

76.7
76.6
76.5
76.1
75.9
75.8

75.1
74.7
73.8
73.1
72.5
71.3

56.6
56.1
54.8
55.2
55.4
55.4

50.0
51.0
51.0
50.6
50.3
50.0

50.9
51.6
51.8
52.3
52.8
53.2

53.5
53.2
53.1
53.1
52.5
52.2

45.5
44.8
44.8
45.0
45.1
45.4

106.7
107.3
101.7
101.3
101.7
101.5

103.5
103.9
103.1
102.1
101.1
100.5

90.6
89.1
87.5
87.0
87.0
85.8

81.5
81.2
80.6
80.4
80.2
79.6

77.9
78.1
78.1
78.1
78.2
77.9

77.2
77.4
77.3
77.2
77.1
76.9

75.9
76.1
76.5
76.0
75.4
75.1

64.5
62.3
64.9
60.0
57.6
57.1

54.8
54.2
53.1
52.5
51.9
51.0

49.6
49.2
49.3
49.8
49.9
50.3

53.3
53.2
53.2
53.4
53.4
53.5

50.8
49.7
48.8
48.6
47.8
46.6

45.8
46.0
46.1
46.0
46.0
46.0

104.3

102.3

92.0

81.4

78.1

77.3

76.0

66.5

54.2

50.1

52.7

50.7

45.5

Computed by the U. S. Department of Commerce, Office of Business Economics, from the revised index of wholesale prices compiled by the U. S. Department of Labor, Bureau of Labor Statistics. The series is obtained by taking the reciprocals of the indexes of wholesale prices (1947 — 49=100) for "all commodities" and converting the reciprocals to relatives with the 1935—39 average as the base.




* BUSINESS STATISTICS
1 HE STATISTICS here are a continuation of the data published in BUSINESS STATISTICS, the 1951 Statistical Supplement to the SURVEY
OF CURRENT BUSINESS. That volume (price $1.50) contains monthly data for the years 1947 to 1950, and monthly averages for earlier years
back to 1935 insofar as available; it also provides a description of each series and references to sources of monthly figures prior to 1947. Series
added or revised since publication of the 1951 Supplement are indicated by an asterisk (*) and a dagger (t), respectively, the accompanying footnote indicating where historical data and a descriptive note may be found. The terms "unadjusted" and "adjusted" used to designate index
numbers and dollar values refer to adjustment of monthly figures for seasonal variation.
Monthly averages for 1951 are shown in the March 1952 Survey of Current Business.
series will be found in the Weekly Supplement to the Survey.

Unless otherwise stated, statistics through
1950 and descriptive notes are shown in the
1951 Statistical Supplement to the Survey

Data subsequent to

April 1952 for selected

1951

April

May

June

July

August

19 52

September

October

November

December

January

February

March

April

GENERAL BUSINESS INDICATORS
NATIONAL INCOME AND PRODUCT
Seasonally adjusted quarterly totals at annual rates:
National income, total
bil. of dol
Compensation
of employees, total
do
\Vi°res and salaries total
do
Private
do
Military
_
do . _ _
Government civilian
.
do
Supplements to wages and salaries
do
Proprietors' and rental income, total cf do
Business and professional cf
do
Farm
__
_ _
do
Rental income of persons
do
Corporate profits and inventory valuation adjustment, total
bil of dol
Corporate profits before tax, total
do
Corporate profits tax liability
do
Corporate profits after tax *
do
Inventory valuation adjustment
do
Net interest
do
Gross national product, total _ _
do
Personal consumption expenditures, total do
Durable goods
do
Nondurable goods
do
Gross private domestic investment
do
New construction
do
Producers' durable equipment
do
Chance in business inventories
do
Net foreign investment.. __ _ _.
do
Government purchases of goods and services,
total
bil of dol
Federal (less Government sales)
do
State and local
do
Personal income, total
Less' Personal tax and nontax payments
Equals: Disposable personal income
Personal saving §

do
do
do
do

274.3
177.5
168 9
140.6
8.9
19.4
8.7
48.1
23.6
16.3
8.2

278.0
180.6
171 7
141 3
9.6
20.9
8.9
49.1
23.4
17.3
8.4

43.0
45.4
25.9
19.4
-2.3
5.7

280 1
182 0
173 1
142 0

185 8
176 8
144 9

8.9
49.8
23.6
17.6
8.5

90
48.6
24 2
15.9
85

42.6
39.8
22.8
17.0
2.8
5.8

42.5
40.0
22.9
17.1
2.5
58

— l
59

328.2
202.4
25.9
110 1
66 5
65.6
22.7
27.2
15.8i

329. 5
204.0
25.2
111 5
67 3
56. 6
21.6
27.0
8.0
1.2

334.6
206. 7
25 0
113 6
68 1
54.6
20. 7
29.0
4.9
2.5

339.7
209. 6
25 0
115 6
69 0
53.4
22 7
30.4

60.3
38.9
21.3

67.7
46.2
21.4

70. 7
49.0
21.7

74.7
52 3
22.4

249. 9
28. 1
221.8
19.4

253.2
28.4
224.9
20.8

257. 0
29.7
227. 2
20. 5

257. 9
31 6
226. 3
16.7

_

9

2.0

PERSONAL INCOME, BY SOURCE
Seasonally adjusted, at annual rates:
Total nersonal income . .. __ _ _ bil, of dol
Wage and salary disbursements, total
do
Commodity-producing industries
do
Distributive industries
do
Service industries
do
Government
do
Wage and salary receipts, total 9 _ _
do
Other labor income
_
do
Proprietors' and rental income _
_do
Personal interest income and dividends, .do
Transfer payments
_
do
Less personal contributions for social insurance©
bil. of dol..
Total non agricultural income

do

249.0
168.2
75.0
45.3
20.1
27 8
164.8
38
48.1
20.2
12 1

249.8
168.8
74.6
45. 6
20.2
28 4
165. 1
38
48.0
20.2
12 7

251, 0
169.9
75.2
45.6
20.3
28.8
166. 4
3.8
48.0
20.0
12.8

252 4
170.6
74.8
46. 0
20. 3
29 5
167.1
38
49 2
.19.7
12 6

253. 7
170.8
74. 5
46.2
20.3
29 8
167 4
38
49.7
20.1
12 7

253.6
171.7
75.0
46. 4
20.3
30 0
168. 3
3.8
48.3
20.7
I1? 5

257 5
173.1
75.1
46.1
20.4
31 5
169 5
38
50 5
20.8
19 9

256 5
174.3
75.1
46.1
20.5
32 6
170 7
39
49 1
20.2
12 6

258.6
175.4
76.8
46.5
20.7
31 4
171.9
39
49.8
20. 7
12 3

957 7
175.8
76.7
46.8
20.7
31 6
172 1
39
49 9
19.3
12 9

258 3
177.3
77.4
47.0
20.9
32 0
173 7
39
48 6
19.9
12 6

3.4

3.7

3.5

3.5

3.4

3.4

3.6

3.6

3.5

4.1

4.0

227.8

229.0

230.1

230.1

231.3

232.1

234.5

234. 8

235. 9

235.8

238.0

r
r

258 2
177. 6
77. 1
* 47.5
-20.8
T 32 2
r
174.0
4 0
r
47. 5
'20. 5
12 6
r

r

258 9
177. 5
77. 0
47,2
21,0
32 3
174 0
4 0
47 8
21. 1
19 4

4.0

3.9

238. 4

238. *

NEW PLANT AND EQUIPMENT
EXPENDITURES
T i 5 552
All industries, quarterly total t
mil. of dol
5,913
5,844
6 672
2,802
Manufacturing^. _ _ _ . . _
. _ . . do
2,841
r 2 742
3,335
r 188
203
Mining
do
199
211
r
Railroad
.
_
. ... do
412
377
449
376
T 134
Other transportation
do
136
120
130
r
751
Electric and gas utilities
. . do
893
933
998
1, 467
Commercial and miscellaneous. „ .. ... -do ._
1,374
1,549
'1,351
r
1
Revised.
Estimates based on anticipated capital expenditures of business for subsequent periods of 1952 are shown on p. 7 of this issue of the SURVEY.
of Includes inventory valuation adjustment.
§Personal saving is excess of disposable income over personal consumption expenditures shown as a component of gross national product
above.
9 Derived by deducting employee contributions for social insurance from total wage and salary disbursements.
OData through 1951 represent employee contributions only; thereafter, personal contributions of self-employed persons are also included.
tRe vised beginning 1945. For revised annual data for 1945-51, see p. 5 of the January 1952 SURVEY; and for quarterly
data beginning 1947 for manufacturing, p. 20 of the December 1951 issue.
S-l
206532°—52-




SUEVEY OF CURRENT BUSINESS

S-2

June 1952

1951

Unless otherwise stated, statistics through
1950 and descriptive notes are shown in the
1951 Statistical Supplement to the Survey

April

May

June

July

August

1952
September

October

November

December

January

February

March

April

GENERAL BUSINESS INDICATORS—Continued
FARM INCOME AND MARKETINGS*
Cash receipts from farming, including Government
payments, total
mil. of dol__
Farm marketings and CCC loans, total
do
Crops
do
Livestock and products, total
_- _ _ _ do.
Dairy products
do_
Meat animals
_
_do_ _
Poultry and eggs
do
Indexes of cash receipts from marketings and CCC
loans, unadjusted:
All commodities
_1935-39=100__
Crops
__ _do
Livestock and products
do.
Indexes of volume of farm marketings, unadjusted:
All commodities
1935-39=100
Crops
_-do
Livestock and products
do

2,137
2,088
465
1,623
368
930
288

2,153
2,120
436
1,684
438
871
309

2,169
2,143
606
1,537
437
753
296

2,652
2,641
1,085
1,556
408
833
285

2,992
2,985
1,315
1,670
393
960
295

3,395
3,387
1,642
1,745
348
1,058
325

4, 355
4,345
2,294
2, 051
341
1, 350
348

3,600
3,583
1,765
1,818
316
1,097
397

3 115
3,097
1 530
1 567
337
868
356

2 642
2,619
1 111
1 508
330
924
243

2 043
2,010
638
1 372

313
163
427

319
153
444

323
214
405

398
384
410

450
465
440

511
580
459

655
811
540

541
624
479

467
541
412

113
61
152

117
57
163

123
84
152

151
153
148

168
186
154

184
218
158

219
273
178

180
192
172

222

223

223

214

220

223

222

232

233

232

223

229

232

230

Durable manufactures-.
- _ _ ... -do. _
Iron and steel
do
Lumber and products
_ _ __ do . Furniture
do
Lumber
_ _
do
Machinery
__do Nonferrous metals and products
do
Fabricating
do_ _
Smelting and refining
_do

278
264
169
185
161
337
211
204
227

277
263
168
173
165
336
206
197
227

276
261
164
164
163
338
205
197
225

266
253
151
160
146
328
199
188
225

269
254
158
165
154
328
197
191
213

273
258
158
167
153
336
197
190
214

Stone, clay, and glass products
do
Cement
_ _ - . _ . _ . do...
Clay products
do
Glass containers. __
-do
Transportation equipment
do
Automobiles (incl. parts)
do. _.

243
231
183
292
311
255

242
242
184
275
310
248

241
251
184
266
307
238

239
248
179
273
293
216

238
251
182
259
305
223

Nondurable manufactures
do
Alcoholic beverages
do
Chemical products .__
_ do_ ..
Industrial chemicals
do
Leather and products
do
Leather tanning
. __ __. _do _ _
Shoes
do
Manufactured food products
do
Dairy products
do
Meat packing. . . .
- _. _do_ __
Processed fruits and vegetables
do

195
175
298
532
106
97
112
152
153
150
103

197
180
298
538
97
88
103
159
196
149
108

197
191
300
548
98
86
106
165
221
144
123

188
190
301
554
83
71
92
176
221
141
191

Paper and products
do
Paper and pulp
do
Petroleum and coal products
do ..
Coke
do
Gasoline
_do_
Printing and publishing
do
Rubber products _ _ . .
_
._ _do Textiles and products
do
Cotton consumption _
do _
Rayon deliveries
do
Wool textiles
__do_ __
Tobacco products
._ . __ _ _ _ d o

215
205
255
185
193
188
238
185
153
380
146
167

212
201
263
186
207
179
247
190
164
377
144
172

209
199
263
187
212
170
251
185
157
378
137
178

162
167
64
133
191
129

168
168
83
126
192
166

do

223

do

T

2 100
2,053
571
1,482

330
809
227

2 122
2, 079
'628
r
1, 451
r
369
r
817
r
254

395
393
397

303
226
361

r
314
'222
r
382

310
202
390

160
168
155

145
137
151

115
82
140

r

151

116
64
155

220

217

217

218

217

P214

229

227

227

228

227

P223

276
261
158
171
151
340
201
190
230

111
261
155
172
146
347
209
198
236

280
263
141
178
122
358
207
196
235

' 279
261
142
175
125
359
216
206
243

280

••281

P276
p 245
p 153
P 172

237
254
180
251
311
226

230
252
182
228
311
223

217
237
179
206
313
216

212
220
177
201
320
221

197
179
303
557
98
80
110
189
215
139
263

199
193
303
560
100
83
111
192
169
149
297

193
197
303
556
91
80
98
177
128
156
210

191
178
304
563
91
81
97
164
98
188
111

185
154
302
563
88
79
94
158
95
195
96

184
145
302
' 562
100
86
110
' 151
86
193

189
182
262
183
211
155
243
160
123
379
100
167

196
189
265
187
213
166
243
170
145
360
115
190

196
191
266
185
214
180
245
163
142
334
114
188

196
191
269
185
212
181
239
154
140
293
114
191

191
187
276
185
214
183
245
157
144
289
120
198

183
181
281
185
215
178
250
152
136
283
118
137

187
185

169
169
86
133
191
171

161
160
66
105
192
166

170
171
77
134
194
167

171
172
79
137
195
166

176
179
104
147
199
163

169
178
99
152
196
115

222

221

212

217

218

218

234

233

231

222

226

228

Durable manufactures _
. . do ___
Lumber and products
do
Lumber
.
do
Nonferrous metals
... _ _ . _ _ d o _
Smelting and refining
do
Stone, clay, and glass products
do
Cement .
do
Clav products
do__
Glass containers
do..

279
170
162
211
227
247
243
189
292

276
163
158
206
227
236
231
184
257

274
153
147
205
226
239
235
184
269

265
141
131
199
226
237
226
177
285

267
146
137
197
213
228
222
176
249

Nondurable manufactures
__
Alcoholic beverages
Chemical products
Leather and products - ..
__.
Leather tanning
Manufactured food products . ..
Dairy products
Meat packing .
Processed fruits and vegetables

198
187
296
106
97
168
147
163
169

198
179
298
97
88
167
148
149
166

197
178
302
99
89
165
150
145
160

187
175
305
85
75
164
150
152
147

193
178
306
99
81
166
148
162
139

r

119

r
r

389
812
262

76

INDUSTRIAL PRODUCTION
Federal Reserve Index
Unadjusted, combined index .
Manufactures

_

Minerals
Fuels
.
Anthracite
Bituminous coal
Crude petroleum
Metals

1935-39=100..

._ ._

do

do
do _
do
__ . d o
do
do _

Adjusted, combined indexed
Manufactures.

do do
do
do
do
...do.. _
do
do ...
do

205
188
169
219
r
318
r
218
r

r

r
r

r

248

148
177

133
358
217
204
249

218
204
252

P349
P217
P200
P260
P218

'209

'212
' 167

232

239

'320

'322
'217

p327
P226

184
155

p 181

'298
' 563

p 298
P567

196

r217

T

186
152

299
' 560

109
96
118
149
97
175
84

194
190
'281

r

188
212
175

243

200

226
p 170

242

155

108
86
122
' 148
' 116

P 148

152
152
P85

165
83
192
189
'280
'204
'210

186
181
p 264

179
p205

180

182

'245
' 152

p 239
p 145

' 288

130
282

157
144
296
116
176

160
150
294
122
167

159
170
86
135
193
89

162
175
91
147
194
r

88

162
174
77
135
199
91

219

218

221

222

220

P 216

226

228

228

231

232

230

TO 225

271
146
135
196
214
228
219
173
246

274
149
138
201
230
219
217
172
222

277
157
149
209
235
212
219
173
204

282
154
141
207
235
219
242
172
216

'282

283
162
154
217
249
224
257

'283
r 158
' 149

p 276
p 153

218
252

p 217
p 260
p 221

192
184
301
100
84
167
143
168
152

188
178
298
91
80
163
140
157
163

188
188
299
89
78
160
137
168
121

185
176
298
88
79
160
136
163
123

T

159
150
216
243
217
233
182

T 177

223

239

189
174

190
171
296
107
90
165
138
182

r 300

100
86
r 162

137
162

r IOC

134

141

112
164
r

174

158
' 170
' 68

122
' 199

'89

' 222

244
' 176

239

188
170
' 294

p 163
•p 169

74
119
P 198
p 126

143

238
175
242
p 184

157

j, 295

108
86
' 165

142
179

r inn

r
Revised.
* Preliminary.
JData through 1950 have been revised to incorporate changes in methods of estimation (notably for truck crops) and to reflect revisions of production, disposition, or price,
extending back to 1910 in some instances, are shown on p. 23 of the December 1951 SURVEY.
o" Seasonal factors for a number of industries were fixed at 100 during 1932-42; data for these industries are shown only in the unadjusted series.




143

••357

' 168

r 83

281
188
211
170

262
149
175
135

260

P 162

146
165
P 12Q

Revisions,

SURVEY OF CURRENT BUSINESS

June 1952

Unless otherwise stated, statistics through
1950 and descriptive notes are shown in the
1951 Statistical Supplement to the Survey

S-3
1952

1951

April

May

June

July

August

September

October

November

December

January

February

March

April

GENERAL BUSINESS INDICATORS—Continued
INDUSTRIAL PRODUCTION—Continued
Federal Reserve Index— Continued
Adjusted d*— Continued
Manufactures— Continued
Nondurable manufactures— Continued
Paper and products
1935-39—100
Paper and pulp
_
do ._
Printing and publishing
do
Tobacco products .. do. _.

214
204
183
177

212
200
176
172

208
198
171
171

190
183
166
161

196
189
174
183

197
192
179
177

196
191
177
185

191
187
175
194

184
182
174
147

187
185
175
176

193
189
177
175

192
188
177
174

185
181
175
184

164
140

165
151

165
145

156
132

165
134

167
137

174
144

170
122

163
122

167
125

167
'128

'163
125

» 164
» 137

mil. of dol__
do
do
do
do
do
do
do
do
do __

43, 448
22, 479
10, 739
11, 740
8. 68-4
2,925
5,759
12, 285
4, 276
8,009

44, 728
23, 434
11, 150
12, 283
8,883
2,892
5,991
12, 411
4,272
8,139

43, 052
22, 133
10, 383
11, 750
8,679
2,789
5,890
12, 240
4,186
8,054

41, 691
21,249
9, 666
11,583
8,384
2,624
5, 760
12, 058
3,967
8,091

42, 930
21, 677
10, 028
11,650
8,824
2,770
6, 054
12, 429
4, 133
8,296

41, 215
20, 591
9,508
11,083
8,366
2,686
5,680
12, 258
4,138
8,120

44, 175
22, 463
10, 660
11, 803
9,161
2,842
6,319
12, 551
4,189
8,362

43,648
22, 214
10, 732
11, 482
8,942
2,718
6, 224
12, 492
4,036
8,456

41,609
20, 761
9,786
10, 975
8, 530
2,487
6,043
12, 318
3,918
8,400

43, 989
22, 484
10, 941
11, 542
8,855
2,586
6,269
12, 650
4,150
8,500

' 45, 144
' 23, 334
11,493
' 11, 841
' 8, 948
2,696
'6,252
12, 862
4,390
8,472

' 42, 641
' 21, 914
' 10, 743
'11,171
'8,328
' 2, 495
' 5, 833
' 12, 399
'4,083
' 8, 316

44,700
23,242
11,360
11,882
8,757
2,742
6,015
12, 701
4,283
8, 418.

Business inventories, book value, end of month
(adjusted), total
mil. of dol__
Manufacturing, total
do
Durable-goods industries
do
Nondurable-goods industries __ do
Wholesale trade, total _ _
_ _ _ _ _ do
Durable-goods establishments
do
Nondurable-goods establishments _
do
Retail trade, total
do
Durable-goods stores
do
Nondurable-goods stores . .
. d o __

67, 361
36, 908
18, 171
18, 737
10, 107
4,672
5 435
20, 346
9,598
10, 748

68, 981
38, 068
18, 923
19. 145
10, 270
4,880
5, 390
20, 643
9,684
10, 959

• 69, 442
39, 009
19, 598
19, 412
10, 151
4,887
5,264
20, 282
9.562
10, 720

70, 268
39, 908
20, 304
19, 605
10,315
5, 045
5,270
20, 045
9, 494
10, 551

70, 124
40, 621
20, 971
19, 650
10, 074
4,961
5,113
19, 429
9,154
10, 275

69, 965
41,132
21,413
19, 719
10, 072
4,918
5,154
18, 761
8,693
10, 068

70,068
41,424
21,817
19, 608
4,926
5,173
18, 545
8,679
9,866

69, 988
41,676
22, 205
19, 470
10, 035
4,838
5,197
18,280
8,385
9,895

70, 107
42, 014
22, 675
19, 339
10,000
4,793
5,207
18, 093
8,218
9,875

' 70, 219
42, 206
22, 976
19, 230
' 9, 952
4,834
r
5, 118
18, 061
8,197
9,864

' 69, 899
- 42, 192
23, 037
' 19, 155
' 9, 726
4,722
' 5, 004
' 17, 980
8,160
••9,820

' 69, 972
' 42, 332
' 23, 209
' 19, 122
9,753
4,720
5,033
' 17, 887
8,075
9, 812

70,390
42, 572
23,444
19, 12$
9,684
4, 745
4,939
18, 133
8, 293
9, 840

MANUFACTURERS' SALES, INVENTORIES,
AND ORDERSf
Sales:
Value (unadjusted), total
mil. of dol
Durable-goods industries
do
Nondurable-goods industries
do

21. 851
10, 630
11,220

22, 603
10, 827
11, 776

21,912
10, 567
11,345

19, 601
8,820
10. 781

22, 458
10, 269
12,189

21, 544
9. 937
11,607

24, 072
11, 451
12, 621

22, 240
10, 588
11,653

20, 810
9,939
10, 871

22, 039
10, 473
11,566

r

22, 137
10,760
' 11, 378

' 22, 949
' 11,303
' 11, 686

22, 672
11,303
11, 369

Value (adjusted), total
do __
Durable-goods industries, total
do
Primary metals
_
. d o _.
Fabricated metal products
...do
Electrical machinery and equipment-- -do
Machinery, except electrical
do
Motor vehicles and equipment _ . do _
Transportation equipment, n. e. s
do
Furniture and
fixtures
do
Lumber products, except furniture
do
Stone, clay, and glass products
do
Professional and scientific instruments. do
Other industries, including ordnance.. .do

22, 479
10, 739
2 072
1,230
1, 023
1,772
1,691
452
322
782
506
239
650

23, 434
11,150
2,158
1,184
1,044
1,801
1,872
478
336
775
584
257
661

22, 133
10, 383
2,054
1,064
1,000
1,760
1,734
449
292
713
548
225
544

21, 249
9,666
1,974
1,026
870
1,708
1,467
495
244
623
508
232
519

21, 677
10, 028
1,872
977
1,056
1,728
1,648
521
278
658
540
223
526

20, 591
9, 508
1,740
973
1,032
1,680
1,471
508
264
590
495
204
549

22, 463
10,660
1,932
1,171
1,077
1,978
1,579
542
284
697
534
230
637

22, 214
10, 732
1, 957
1,188
1,090
2,095
1.627
587
289
618
526
232
523

20, 761
9,786
1,853
1,076
1,034
1,926
1.356
610
242
587
418
222
462

22, 484
10, 941
1,944
1,238
1,060
2,232
1,602
624
240
666
499
288
549

r 23, 334
11, 493
1,985
1,224
1,121
2,316
1,675
697
273
736
551
284
632

' 21, 914
' 10, 743
1,876
1,130
1,080
2,136
1,673
'643
'278
'679
'486
'253
'508

23,242
11, 360
1,947
1,218
1,077
2,206
1, 782:
699
284
800474
290
685

Nondurable-goods industries, total _ _ _ do
Food and kindred products
do
Beverages
do
Tobacco manufactures
__ -.
do
Textile-mill products
do
Apparel and related products
do
Leather and leather products
do __
Paper and allied products
do
Printing and publishing
do
Chemicals and allied products
_ _ do
Petroleum and coal products
do
Rubber products
do_ __

11, 740
3,235
484
281
1,354
768
294
680
757
1,596
1,853
439

12, 283
3,431
574
288
1,432
792
307
711
786
1,643
1,887
432

11, 750
3,151
599
272
1,279
841
315
686
748
1,543
1,884
433

11, 583
3,032
591
278
1,182
940
298
637
740
1,535
1,912
438

11, 650
2,946
658
290
1,164
854
315
692
755
1,480
2,023
467

11, 083
2,956
508
269
1,086
696
257
663
779
1,431
2,000
435

11, 803
3,156
503
339
1,167
782
265
695
837
1,511
2,102
445

11, 482
3,080
551
290
1.066
787
206
658
829
1,486
2,092
438

10, 975
2,979
582
288
1,110
727
208
601
782
1,408
1,927
363

11,542
3,012
586
325
1,139
768
203
691
875
1,518
1,958
468

' 11, 841
3,166
549
317
1,151
783
218
672
856
1.598
2,089
'442

' 11, 171
'2,939
604
'292
'1,082
'704
'193
631
'820
'1,510
' 1,989
407

11,882
3,172
674
328
1,217
788
208
613
902
1,545
2,046

Minerals
Metals

-

_

do.
... .do

BUSINESS SALES AND INVENTORIES§ f
Business sales (adjusted), total
Manufacturing, total
Durable-goods industries
Nondurable-goods industries
Wholesale trade, total
Durable-goods establishments
Nondurable-goods establishments
Retail trade, total
Durable-goods stores
Nondurable-goods stores.

' 10, 099

Inventories, end of month:
Book value (unadjusted), total
Durable-goods industries
Nondurable-goods industries

do
do
do

37, 054
18, 331
18, 723

38, 262
19, 178
19, 084

39, 085
19, 740
19, 344

39,840
20,383
19, 457

40,283
20, 886
19, 396

40,624
21, 270
19, 354

40, 958
21,585
19, 373

41,353
21,924
19, 430

42,047
22, 445
19, 602

42, 470
22,852
19, 618

'42,583 ' 42, 789
23, 098 ' 23, 446
' 19, 485 ' 19, 344

42, 742
23,64919, 094

By stages of fabrication: 9
Purchased materials
Goods in process
Finished goods

do
do
do

15, 658
9,412
11, 984

15, 808
9,758
12, 696

16, 010
9,823
13, 252

16, 128
10, 180
13,533

16, 052
10, 186
14, 045

15, 836
10,561
14, 227

16, 243
10, 682
14, 033

16,388
10, 735
14,230

16, 669
10,924
14,453

16, 491
11,228
14, 751

'16,283 ' 16, 130
' 11, 581 '11,899
' 14, 720 ' 14, 764

15,902
11,958
14,882

36,908
18, 171
2,298
1,872
2,180
4,136
2,275
1,273
578
950
741
570
1,298

38, 068
18, 923
2,324
1.962
2,338
4,286
2,336
1,367
612
990
762
596
1,351

39, 009
19, 598
2,353
2,056
2,465
4.410
2,390
1,473
601
1,008
801
635
1,406

39,908
20, 304
2,426
2,133
2,574
4,509
2,455
1,657
588
1,017
837
649
1,458

40, 621
20, 971
2,508
2,278
2,684
4,667
2, 480
1,757
568
1,031
837
681
1,483

41, 132
21, 413
2,602
2,376
2,706
4,770
2,521
1,879
571
1,018
836
690
1,443

41,424
21,817
2,664
2,439
2,736
4,873
2,633
1,960
552
1,036
829
701
1,393

41, 676
22,205
2,687
2,431
2,768
4,995
2,731
2,U98
542
1,051
810
713
1, 379

42, 014
22, 675
2 778
2^438
2,870
5,112
2,700
2,176
520
1,092
841
718
1,428

42,206
22,976
2,807
2,410
2,915
5,187
2, 720
2,282
539
1,086
868
724
1,437

'42,192
23,037
2,819
2,418
2,948
5,244
2,675
2,320
535
1,077
878
719
1,404

'42,332
'23,209
' 2, 816
' 2, 469
' 2, 977
' 5, 278
'2,663
' 2, 368
'525
' 1, 078
'915
703
' 1, 641

42,572
23,444
2,832
2, 436
3,027
5,349
2,680
2,457
536
1,058
930
702
1,437

Book value (adjusted), total
do _
Durable-goods industries, total
do
Primary metals
do
Fabricated metal products
do
Electrical machinery and equipment—do
Machinery, except electrical
do
Motor vehicles and equipment
do
Transportation equipment, n. e. s
do
Furniture and
fixtures
do
Lumber products, except furniture
do
Stone, clay, and glass products
do
Professional and scientific instruments, do
Other industries, including ordnance ._ do

' Revised.
* Preliminary.
cf See note marked "cf" on p. S-2.
§The term "business" here includes only manufacturing and trade. Business inventories as shown on p. S-l cover data for all types of producers, both farm and nonfarm. Unadjusted
data for manufacturing are shown below on pp. S-3 and S-4; those for retail and wholesale trade, on pp. S-8, S-9, and S-10.
tRevised series. All components of business sales, inventories, and orders have been revised; for appropriate explanations of changes and data through 1950 (except figures beginning 1948
_.._,i..,.»_ J v^_«,^,n..^.u. .._...„.......
.
.,-,
,..._,.....
..........
.» ,.,
,,
pp. 15-24 of the October 1951 SURVEY. Manufacturers'
ning 1940; moreover, the adoption of revised industry defi— ~o ~^~—^
.
^
,„„
^v.,
^.nstrv rienrfiS for parlor nprinris.
9 Data beginning December 1947 are shown on p. 7 of the March 1952 SURVEY.




SURVEY OF CURRENT BUSINESS

S-4
Unless otherwise stated, statistics through
1950 and descriptive notes are shown in the
1951 Statistical Supplement to the Survey

1952

1951
April

May

June

July

August

1952
September

October

November

December

January

F

u

^ - 1 March j April

GENERAL BUSINESS INDICATORS—Continued
MANUFACTURERS' SALES, INVENTORIES,
AND ORDER Sf— Continued
Inventories, end of month — Continued
Book value (adjusted) — Continued
Nondurable-goods industries, total-. mil. of doL.
Food and kindred products
do
Beverages
_
do
Tobacco manufactures
do
Textile-mill products
do
Apparel and related products
- _ do. ..
Leather and leather products
do _ „
Paper and allied products
do
Printing and publishing
do
Chemicals and allied products
. _ _ _ do. .
Petroleum and coal products
do
Rubber products
do

18, 737
3,551
1,242
1,630
3,046
1,616
666
840
661
2,626
2,294
565

19, 145
3,580
1,254
1,652
3,137
1,667
677
855
681
2,699
2,360
583

New orders net (unadjusted) totals
do
Durable-goods industries total$
do
Primary metals
- _do. ._
Fabricated metal products
do
Electrical machinery and equipment _ _-do ..
Machinery except electrical
do
Transportation equipment, including motor
vehicles and partsj
mil. of dol_.
Other industries including ordnancet
do
Nondurable-goods industries, total
do

' 23, 890 * 23, 582
' 13, 057 ' 12, 406
' 2, 344 ' 2, 156
' 1, 272 '1. 168
1,304
1,246
2,304
2,308

Unfilled orders (unadjusted), total$
- -do
Durable-goods industries tofal$
do
Primary metals
-do
Fabricated metal products
__do
Electrical machinery and equipment . _ _ d o
Machinery except electrical
do
Transportation equipment, including motor
vehicles and parts!
mil. of dol
Other industries, including ordnance!
do
Nondurable-goods industries total
- do

' 57, 474 «• 58, 488 «• 60, 290
'50,119 ' 51, 734 r 54, 083

3,199
2,634
10, 834

f 24, 054
' 13, 257
'r 1, 966
1, 055
1,453
2,291

15, 070
6,400
6,755

19, 650
3,619
1,161
1,668
3,190
1, 686
622
924
711
2,906
2,523
640

19, 719
3, 546
1,201
1 712
3,130
1,644
637
936
711
2,970
2,574
659
r
r

» 22, 556 f 22, 962
' 12, 235 '11,032
r
2, 083
' 2, 027
' 904
' 1 , 053
1,284
1,064
2,259
2.180

4,349
2,143
10, 797

3,198
2, 331
11, 176

' 8, 567 r 8, 650
«• 5, 848
«• 5, 894
5, 541
5,287
10, 178
9,739
14, 118
6,560
7,354

19,605
3,554
1,209
1, 656
3,222
1, 746
652
917
702
2,850
2,481
616

19, 412
3,542
1,254
1, 642
3,214
1,687
691
887
694
2, 771
2,420
610

3,340
2,305
10, 321
r
r

«• 8, 509
' 5, 842
6,008
10, 144

62, 775
57, 029
'8, 919
^ 5, 882
6. 530
10, 803

17, 220
6,299
6,206

18,679
6,216
5, 746

19, 608
3 545
1,200
1 766
3,048
1,498
607
942
711
3,004
2,582
705

21, 536 r 24, 289
10,344 '•11,956
r
1,570
2, 445
' 1, 208 ' 1, 252
1, 207
1,188
1,745
1,966

r
r

r

2,328
2,880
11,930

2,396
2,213
" 11. 192

' 63, 169 ' 63, 386
63, 177
r
' 57, 792 r 58, 199
58, 705
' 9, 000 ' 8, 768 r 9, 108
'5,814
' 5, 926 r 5, 881
6, 599
6,776
6,809
11, 251
11,304
11. 242
18, 916
6,212
5,385

19, 299
6,127
4,970

19, 663
5,941
4,681

19, 339
3 386
1 193
1 836
2 814
1 446
567
] 005
3, 000
2,535
799

19, 230
3 376
1 168
1 795
2 774
1 446
573
1 022
753
3 005
2, 522
"'797

22 627
11,031
1, 559
1, 125
1, 212
1,9H1

r 20 767
r
10*312
T
1, 876
T
I 951
1 454
1 906

rr 22 565
11 287
r
2, 028
r
1 280
1 111
o igo

3,151
2.002
11,596

2, 005
1 521
10, 455

2,475
2 213
11,278

r
r

2,612
2,494
12, 332

r

19, 470
3 465
1 204
1 824
2 911
1 445
594
959
733
3,030
2,566
739

r
r

63, 772
59, 148
8, 774
5, 834
6,898
11,313

r
r

63, 729
59 52 ^
8, 725
5, 730
7.197
11,281

r
r

r
r

20, 652
5,677
4,624

21, 221
5. 368
4,208

r

64, 250
' GO 330
" S 775
r
5, 882
7,291
11, 380
21, 544
5, 404
3 920

' 19, 155
3 451
1 224
1 770
2 670
1,384
546
1 051
760
2,996
2,500
^805

r r19, 122
3 438
r
1,249
r
1 766
r 2 570
>• 1,332
r
551
1 050
-759
-•3, 037
' 2, 545
820

19, 129
3 425
1 224
1 780
2 594
1 204
543
1 089
749
3,043
2, 593

r
r

r

22 730
11 570
1, 82"
1, 20s
1. 24 :J
1 997

22 071
10 876
1,669
I 174

r
r

1>41
2. 134

2,427
2, 132
•• 11, 195
r
r

23 133
' 11 712
' 1,802
' 1,051
'r 1 938
1,964
r

r

2, 700
T 2. 190
11,422

2, 90-:
2, 39."

11, 160

04, 189
60 452
8, 532
5 947
7, 538
11,328

'p 64, 373
60 801
' 8, 342
' 5, 843
' 8.318
' 10.980

64, 431
61 008
8, 32'.
5,894
8, 40i

21, 706
5, 400
3,737

r 22

<• 5, 317
' 3, 572

22, 37*
5, 331
3, 362

r
r

00°

10, esr

BUSINESS POPULATION
OPERATING BUSINESSES AND BUSINESS
TURN-OVER
On(Ta.tirg businesses ond of quarter total
Manufacturing

do

Retail trade
Wholesale trade
All other

do
do
do

-

New businesses quarterly total

r

thous

r

do

i P ir<. Ct CO L

4,012.1
r
379 0
rr 305. 3
858. 0
' 1, 608. 4
' 207. 6
' 593. 7

109.9
19. 4
12.9
19.2
38.3
4.5
15.5

91 4
14 99
9
16. 5
33 7
3 7
13 4

r 101 0
r
14.2
r
11.6
' 18.1
' 41. 5

95 7
13.3
11 8
16.8
39
0
r
3 5
r
11.2

Service industries
Ret'iil trade

do
do

All other

do

C/oiitrict construction
- a mi liici
^_

do

Retiil trade

do

\.ll other

do

3.7
'11.9

do

' 102. 4

Business transfer*5 quarterly totals

r

4,r 016. 4
377. 5
- 308. 0
r
858. 3
1, 673. 7
'r 207. 5
591. 5

r

•

102. 4

BUSINESS INCORPORATION So"
New incorporations ^48 States)

number

7,653

7,544

6,810

6,428

6,496

5,950

6,812

6,289

6,913

8,357

7.138

7, 9i)2

3, 284

693

699
43
71
129
390
66

665
55
74
130
340
66

678
56
89
136
333
64

620
39
84
150
70

643
57
85
150
304
47

587
48
68
106
307
58

612
48
71
131
2PO
66

671
50
OS
143
348
62

619
52
70
133
304
60

715

305
76

755
64
94
128
385
84

148
371
69

730
58
9*
171
375
83

17. 004
1,055
2, 268
5, 894
5, 647
2,200

23. 504
1,871
4. 655
5,497
7,487
3,994

22, 773
1,006
3, 085
5,014
7,434
6,234

21,088
1,398
2,666
7,790
4,778
4.456

20, 417
1,358
4, 290
10, 497
6, 173
4,099

26, 643
782
4,668
14, 908
4,826
1,459

29,742
2,044
1,937
12, 219
6,707
6,835

17, 567
952
3,740
6,158
4,369
2,348

19, 403
1,874
2, 251
6. 515
5, 177
3, 5S6

20, 208
4, 249
2,672
8, 365
7, 761
3,161

19, 474
1,649
1,935
5,614
6, 548
3. 728

29, 232
4, 563
2. 485
13, 040
6,905
2.233

29. 530
1,744
3, 853
12, 633
7, 050
4, 250

INDUSTRIAL AND COMMERCIAL
FAILURESd"
Failures, total
Commercial service
Construction
Manufacturing and mining
Retail trade
Wholesale trade
-

--

- .number.
do_
- do_
do
do.
do

Liabilities, total
thous. of doL.
Commercial service
_
„ - . do
Construction
:.do
Manufacturing and mining
_ _ _ do
Retail trade
...
- .do
Wholesale trade
do_ .
r

52
81

no

Of)

Revised.
*> Preliminary.
f Revised series. See corresponding note on p. 8-3.
cf Data are from Dun & Bradstreet, Inc.
t Unpublished revisions for the indicated series on new and unfilled orders are available upon request as follows: Grand total and total durable-goods industries, June-September 1950;
transportation equipment (incl. motor vehicles, etc.) and other industries (incl. ordnance), January 1940-September 1950.
^Revisions of annual data (1944-50) are shown on p, 15 of this issue of the SURVEY. Revisions of quarterly data beginning 1944 (lst-4th quarter, respectively) are as follows (thousands):
1944—84.8; 72.9; 81.2; 71.6; 1945—107.4; 105.7; 114.6; 119.8; 1946—205.8; 146.8; 148.9; 118.3; 1947—177,2; 136.2; 134.6; 109.2; 1948—161.5; 120.5; 118.8; 94.5; 1949—137.1; 113.2; 113.5; 96.1; 1950—141.0; 110.8;
119.0; 90.'3; 1st quarter, 1951,127.1.
REVISIONS FOR CONSTRUCTION ACTIVITY, PAGE S-6—January-March 1951 (mil. dol.): Total new construction 2,157; 2,029: 2,247; private—total. 1,642: 1,573; 1.603; residential,
total, 902- 827; 862; new dwelling units, 830; 750; 785; additions, etc., 55; 60; 61; nonresidential, total, 378; 384: 399; industrial, 129; 135; 143; commercial, 122; 121; 127; farm, 115; 119; 129; public utility,
242; 238; 268; public—total, 515; 456; 584; residential, 29; 30; 36; nonresidential, 229; 217; 259; military, etc., 26; 29; 42; highway, 94; 65; 107; conservation, etc., 63; 49; 61; other, 74; 66; 79.




SUEVEY OF CURRENT BUSINESS

June

S-5
1952

1951

Unless otherwise stated, statistics through
1950 and descriptive notes are shown in the
1951 Statistical Supplement to the Survey

April

May

June

July

August

September

October

November

December

January

February

March

April

COMMODITY PRICES
PRICES RECEIVED AND PAID BY FARMERS

309
275
247
222
438
363
209
225
385
340
428
273
215

305
271
244
223
438
357
194
239
380
335
418
270
221

301
263
240
217
438
353
200
189
358
335
422
269
217

294
252
236
213
438
329
175
204
317
332
414
272
222

Prices paid:
All commodities
1910-14=100
Commodities used in living
do__ .
Commodities used in production
. do
All commodities, interest, taxes, and wage rates
1910-14=100—

273
269
276

272
270
274

272
270
273

271
270
273

283

'282

282

Par it v ratio? .

109

108

107

205.6

206 5

206 4

Prices received, all farm products^
Crops
Food grains
Feed grains and hay
_
Tobacco
Cotton.
Fruit
Truck crops
Oil-bearing crops
Livestock and products _.
Meat animals
Dairy products
Poultry and eggs

1910-14=100_
do
do
do_
do
do__
do
_. do.
do
do
do
do
_
do

do.

292
244
234
215
430
291
207
181
294
336
416
277
231

291
239
233
216
423
283
201
161
288
337
411
283
247

296
247
239
219
445
304
188
171
296
340
410
294
247

301
267
249
224
424
345
172
249
307
332
387
305
249

305
280
253
233
440
339
177
331
309
328
379
314
233

300
277
251
234
431
325
171
337
303
320
376
316
200

289
259
249
230
436
313
168
217
296
317
377
317
181

288
265
251
229
435
309
176
265
284
310
372
305
177

290
272
250
229
435
313
179
308
279
306
372
291
180

271
270
273

271
268
275

272
268
277

274
271
277

>>7g

272
°75

275
271
278

276
271
281

275
270
280

276
271
280

282

282

282

283

284

284

287

288

288

289

104

104

103

105

106

107

105

100

100

100

206 6

206 1

207 4

209 0

210 3

210 8

210 9

208 9

r 208 7

209 7

215 2
207 3

215 2
207 3

215 2
207 3

215 2
207 3

213 0
207 3

189 1
206 8
232 2
190.4
°13 2
236 5
270 1
144 9
97 5
206 6
210 2
139 2
169 1

189 1
^04 6
232 4
190.6
215 8
241 4
272 1
145 0
97 6
206 8
209 1
139 7
169 6

187 9
204 3
227 5
190.9
217 o
223 5
271 1
145 3
97 9
206 7
208 6
140 2
170 2

188 0
203 5
227 6
191.2
215 7
232 1
267 7
145 3
97 9
206 8
207 6
140 5
170 7

1 igg 7

1

RETAIL PRICES
All commodities (U. S. Department of Commerce
index)
1935-39—100
Coal (U. S. Department of Labor indexes) :f
Anthracite, chestnut.. _
1935-39=100.
Bituminous, all sizes _
do
Consumers' price index (U. S. Dept. of Labor):
A 11 items1935-39—100
Apparel _ _ _
do
Food
do
Cereals and bakery products _.
do
Dairy products
__ _ _
do
Fruits and vegetables
do
Meats, poultry, and
fish
do
Fuel, electricity, and refrigeration
do
Gas and electricity
do
Other fuels
_
do
Housefurnishings
do
Rent
do
Miscellaneous _ .
do

207.3
201.8

212 3
204 7

184.6
203.6
225.7
188.3
204.1
214.8
272.6
144.0
96.9
205.0
211.8
135.1
164.6

185.4
204.0
227.4
188.2
203.5
221.6
272.8
143.6
97.3
202.4
212.6
135.4
165.0

185.2
204.0
226 9
188. 4
203.9
219.9
271.6
143.6
97.1
202.8
212.5
135 7
164.8

185 5
203 3
227 7
189.0
205 1
218 5
273 2
144 0
97 2
203 7
212 4
136 2
165 0

185 5
203 6
227 0
188.7
205 9
208 9
275 0
144 2
97 3
204 2
210 8
136 8
165 4

186 6
209 0
227 3
189.4
206 4
205 1
275 6
144 4
97 3
204 9
211 1
137 5
166 0

187 4
208 9
229 2
189.4
207 9
210 8
276 6
144 6
97 4
205 8
210 4
138 2
166 6

188 6
207 6
231 4
190.2
210 4
223 5
273 5
144 8
97 4
206 3
210 8
138 9
168 4

U. S. Department of Labor indexes (revised) :f
All commodities
1947-49 — 100

116 3

115 9

115 1

m

o

113 7

1 1Q A.

m

m

Farm products _
do
Fruits and vegetables, fresh and dried—do
Grains
do
Livestock and live poultry
do

117.5
98.3
100 2
123.2

115.7
103.8
98 3
119.8

113 9
94.2
94 7
119.9

111 1

118.6

110 4
89.4
95 8
118.2

109 9
92.8
%f>
116.2

Foods, processed
do
Cereal and baker v products
do
Dairv products and ice cream
do
Fruits and vegetables, canned and frozen
1947-49=100Meats, poultrv, and
fish
do

111 8
107.0
106. 0

112 3
106 8
106.5

111 3
106 2
106. 5

110 7
106 2
106 7

111 2
106 7
107 9

106.7
117. 1

105.8
118 1

104.4
117 2

103.5
116 8

103.4
117 5

104.7
118 3

106.1
115 8

106.2

1 1Q f \

117.1
111. 5
120.9
95.8
107.6
105.4
109.9

116.8
111 3
121 2
95.6
103 6
105 3
109.5

116.2
110 2
120 9
95.7
88 5
103 5
108.7

115.7
108 8
120 4
95.6
70 0
107 1
107 8

114.9
108 5
120 4
95.6
70 4
107 2
107 4

114.8
108 7
1 ''O 7
95.6

114.6
108 8

114.5
108 6

114.6

95.6

95.0

107 2
108 0

107 5
108 7

106.8

202 7
230 0
191.1
212 6
247 2
266 7
145 3
98 0
206 1
206 °
140 8
171 1

WHOLESALE PRICESd"

Commodities other than farm products and
foods
.1947^9=100—
Chemicals and allied products
do
Chemicals, industrial
do
Drugs, Pharmaceuticals, cosmetics do
Fats and oils, inedible
do
Fertilizer materials . .
_ do
Paint and paint materials _ _
do

Q4. Q

f>

113 0

112 0
106.9

m

110 0
121.5

107 8
112.6

r 1Q8 2

117.4

106.7

106.2

105. 2

106 4
106 1

108 5

108.5
mf\
107 8
111 1

107.5

1 1ft Q

114.5
mc»

m

1 10 1
107 5
113 2

m

TO A

Iftfi 8

105.6

m

o

71 8

-I/-10 Q

o

1 no «

105.7
113 5

104.8

' 104. 9

104.6

114.3
106 7

114.2

'113.8

113.3

95.2

94.8

93.4

93.1

108 1
109 8

116. 8
92.7
42. 6

IftQ Q

109 3

106.9

107.4

107.4

107.2

' 107. 4

1ft8 4

1 ^>ft Q

cc 9

118 1

ca Q

10Q. A

106.2
107 8
98 0
98 2
110 2

106.3
108 1
98 0
97 °
110 4

106. 5
107 2
98 5
9" *i
110 8

106.3
107 5
97 4

106.7

110 8

110 9

1 1ft Q

m

115.4
107.9
117.5
92.6

115.3
107.9
117.4
92.6

115.0
108.1
116.5
92.6

114.4
107.6
115.9
93.6

113.5
107.7
115.6
93.2

113.1
108.0
115.5
92.9

112.8
107.9
115.4
93.0

112.7
107.9
115.5
93.0

112.7
108.2
115.1
93.0

112.3
108.0
113.6
93.1

112.4
108.0
113.5
93.1

Hides, skins, and leather products
Footwear
Hides a n d skins _ _ _ _ _
Leather _

do
do
do
do

126.5
123 1
130 7
137 8

126.2
122 9
130 3
137 4

124.7
122 6
129 4
132 6

122.3
122 1
124 0

118.0

118.0

113.6

107.0

105.1

102.2

m

7

113 3

118 7

m

98. 7

9<. 0

99.5
116. 1
63. 7
89.5

Lumber and wood products
Lumber

do
do

126.6
126 7

126 1
126 0

124 6
124 2

123 5
123 0

122 3

m

7

m

121 6

m

i

118.6
120.3
123. 6
121.8
112.1
1 Indexed on old basis for April 1952 is 189.6.

118 6
120.3
123.6
121.8
112.1

118 6
120. 3
123. 6
121.8
112.2

118 8
120.1
123.7
122.2

118 9
120.1
123.7
122.1
119 8

119 4
120.1
123.7
122.1
114 i

19ft 9

m

e

120.2
123.6
121.8
HA ft

Revised.

9Ratip of prices received to prices paid'(including interest, taxes, and wage
rates).
tRevised series. Indexes of retail prices of coal (for residential heating) rofl^' "**
to 1913 and will be shown later. Revised wholesale price indexes reflect use c
tion method; for monthly data beginning January 1947, see pp. 22-24 of theM
products and foods" are on p. 24 of this issue. It should be noted that * u - •
prices prior to January 1952.




112 K

1ft8 7

no f\

1 99 ft

7

Q

120.2
123.8
122. 1
11A Q

106. 6

120.2
124.0
121.8

121. 5
124.6
121.5

1 1K

117 1

K

99. 1
105. 7

106. 3
104. 9
99. 1
106.6
109. 5

111.9
107. 1
113.
4
r
90.7

112. 1
107.8
113. 4
90.7

r

98.0
115. 9
59. 6
r
87. 6

94.1
113.9
49. 7
84.4

120.3
120. 6

120. 5
' 120. 7

120.9
121. 3

121.8
125.2
121.6

121.8
'124.9
r
121.5

121. 6
121.6
124.9
120.9

98. 0
107. 0
110. 4

r

1 9f Q

127. 3
100. 9
106.6

1 ft.7 ^
r 11q o

106.5
108.2
97 4
101 5
110.4

1ft8 4.
no ri

123. 9

i

n

Fuel, power, and lighting materials
do
Coal.
__ .
__
do
Electricity
_
do
Gas
do
Petroleum and products
do
Furniture and other household durables
1947-49=100—
Appliances, household
do
Furniture, household
do
Radios, television, and phonographs. -do

Machinery and motive products
do
Agricultural machinery and equip..._do
Construction machinery and equip.. .do
Electrical machinery and equipment- .do
Motor vehicles
do
r

90.8

7

111 5
96.1

T
r

r

' °°ttOn' 3°3; fruit' 19°; ttUCk Cr°PS'285; «"-»«*ig«»I».
d*For actual wholesale prices of individual commodities, see respective commodities

SURVEY OF CURRENT BUSINESS

S-6
Unless otherwise stated, statistics through
1950 and descriptive notes are shown in the
1951 Statistical Supplement to the Survey

June 1952

1951
April

May

June

July

August

1952

September

October

November

December

January

February

March

April

COMMODITY PRICES—Continued
WHOLESALE PRICESd*—Continued

U. S. Department of Labor indexes (revised) :J— Con.
Commodities other than farm prod., etc. — Con.
Metals and metal products
1947-49=100—
Heating equipment
do
Iron and steel
do
Nonferrous metals
do
Nonmetallic minerals, structural
do
Clay products
do __
Concrete products
do _
Gypsum, products
do -

123.3
114.8
122.9
125.7
113.7
121.4
112.4
117.4

123.2
114.8
122.9
125.4
113.6
121.4
112.4
117.4

122.7
114.6
122.9
123.2
113.6
121.4
112.4
117.4

122.3
114.4
123.0
121.5
113.6
121.4
112.4
117.4

122.2
114.6
123.1
121.6
113.6
121.4
112.4
117.4

122.1
114.5
123.1
122.0
113.6
121.4
112.4
117.4

122.4
114. 6
123.1
124.0
113.6
121.4
112.4
117.4

122.5
114.4
123. 1
124.1
113.6
121.4
112.4
117.7

122.5
114. 5
123.1
124.2
112.8
121.4
112.4
117.7

122.4
114.0
123.1
124.2
112.9
121.4
112.4
117.7

122.6
114.0
123.2
125. 0
112.9
121.4
112.4
117.7

122.6
114.0
123.2
' 124. 9
112.9
121.4
112.4
117.7

122.5
113.9
123.0
124.8
112.8
121.3
112.4
117.7

Pulp paper, and allied products
do
Paper
- do
Rubber and products
do
Tires and tubes
do
Textile products and apparel
_ _ _ __do _
Aprarel
do
Cotton products
- - do
Silk products
do
Svrthetic textiles
do _
Wool products
do

119.7
117.1
151. 5
133. 9
115.5
104.1
118.8
138. 3
99.7
164.5

119.8
117.1
151.3
133.9
114.8
104.1
117.8
124.9
98.7
161.8

120.2
117.6
148.3
133.9
112.9
103.7
116.0
133.7
98.0
151.7

120.2
118.3
144. 3
133. 9
111.8
105.0
113.0
116.1
96.7
145.5

119.5
119.8
144.3
133.9
108.5
104.5
106.9
112.3
94.0
140.0

119.4
121.5
144.7
133.9
105.9
104.1
102.5
117.9
92.9
129.8

118.8
122.1
144.7
133.9
103. 9
103.3
100.8
122.5
91.5
120.8

118.4
122.4
144.6
133. 9
103.9
102.3
102.3
123.2
91.5
122.0

118.4
122.4
1 44. 3
133. 4
104.0
102.1
103.3
125. 3
91.7
120.3

118.2
122.8
144.1
133.4
103.3
101.7
102.8
126.0
PI. 4
118.0

118.3
123.7
143. 1
133. 4
102.1
101.7
101.0
130.2
89.9
114.4

117.7
123.8
'142.0
133.4
100.6
101.6
99.6
129.1
87.3
r
111.8

117. 4
123.5
140.6
133.0
99.9
101.2
98.6
128.4
86.7
109.2

Tobacco mfrs. ard bottled beverages
Beverages alcoholic
Cigarettes

108. 4
107.0
105.7

108.4
107.0
105.7

108.4
107.0
105.7

107.9
106.1
105.7

107.8
105.8
105.7

107.8
105.8
105.7

107.5
105.8
105.7

107.5
105.9
105.0

108.1
105.9
107.3

108.1
105.9
107.3

110.8
111.2
107.3

110.8
111.2
107.3

110.8
111.2
107.3

45.0
54.2
44.3

45.1
53.9
44.0

45.4
54.0
44.1

45.8
53.9
43.9

46.0
53.9
44.1

46.1
53.6
44.0

46.0
53.4
43.6

46.0
53.0
43.2

46.0
52.9
43.1

46.3
52.9
43.0

46.5
53.2
44.0

46.5
53.2
43.9

46.7
53.0
43.5

do
do
do_ __

PURCHASING POWER OF THE DOLLAR
As measured byWholesale pricesf
Consumers' prices
Retail food prices

1935-39= 100__
do
do

CONSTRUCTION AND REAL ESTATE
CONSTRUCTION ACTIVITY 9
New construction total

mil. ofdol__

••2,439

'2,647

' 2, 810

' 2, 873

' 2, 942

' 2, 934

' 2, 893

••2,660

••2,394

' 2, 193

' 2, 102

' 2, 345

2,529

Private total
do
Residential (nonfarm)
do
New dwelling units
do
Additions and alterations
- do. _ _
Nonresidential building, except farm and public
utility total
mil. ofdol..
Industrial
-- - do
Commercial
do
Farm construction
do
Public utility
do _

' 1, 742
'896
••807
72

' 1, 837
'918
'821
81

' 1,933
'957
'853
88

' 1,968
'965
'857
91

'1,971
'956
'847
92

'1,955
'958
'849
93

'1,908
'963
'858
91

' 1, 818
'930
'832
'84

' 1 , 674
'840
' 760
'66

' 1, 518
720
650
57

' 1,464
676
600
63

' 1,616
799
710
77

1,687
846
750
84

Public total
Residential
Nonresidential building
Military and naval
Highway
Conservation and development
Other types

_

do
do
do
- - do
do
do
- do ___

'410
152
'126
"143
'289

'440
' 164
'131
' 166
'309

'465
' 180
131
' 180
326

'471
' 195
' 121
' 191
'336

'465
'204
108
'194
'350

'460
'210
' 101
' 179
'352

'440
' 205
'95
' 148
'351

'425
' 200
'96
r
126
'331

'415
' 200
'92
'110
'303

'415
' 209
83
' 110
'267

'407
' 209
'76
' 113
'263

'397
' 201
' 74
' 123
'292

386
194
73
136
313

697
42
'288
'57
'154
69
87

'810
45
'303
'66
'225
76
95

'877
' 47
'310
' 77
'265
'82
96

'905
' 47
'315
'86
'282
'80
95

'971
'56
'324
108
'314
'77
92

'979
63
'319
' 129
'303
'77
88

'985
'66
'318
' 147
'293
'78
'83

'842
'68
'300
' 136
' 187
'76
'75

'720
66
'289
' 116
'111
'72
'66

'675
' 65
'282
' 113
'90
'62
'63

'638
' 62
'268
' 105
'90
56
'57

'729
' 59
'301
' 122
'115
'65
'67

842
57
322
138
175
74
76

CONTRACT AWARDS
Construction contracts awarded in 37 States (F. W.
Dodge Corp.):
Total projects
number
Total valuation
thous. of dol
Public ownership
do
Private ownership
_ _ _ _ do
Nonresidential buildings:
Projects
Floor area
Valuation
Residential buildings:
Projects
Floor area
-.
Valuation
Public works:
Projects
Valuation
Utilities:
Projects
Valuation

number.
thous. of sq ft
thous. of dol

28,832
36, 323
931, 768 1, 234, 339
502, 416
323, 736
731,923
608, 032

31,842
902, 091
296, 897
605, 194

33, 767
45, 041
50, 097
885, 206 1,321,254 1, 597, 517
636, 357
554, 050
338, 662
961, 160
767, 204
546, 544

4,463
41,162
553, 280

4,496
39, 926
536, 533

4,170
36, 700
475, 957

4,558
36, 273
404, 462

4,775
34, 782
418,203

3,618
27, 611
327, 706

3,262
43, 016
593. 007

3, 325
24, 868
357, 676

3,472
24, 941
301, 404

4,311
33, 345
463, 276

4,449
39. 343
562, 256

45, 856
73, 596
661, 094

37, 588
60, 496
545, 152

37, 173
58, 823
548, 144

39, 864
60, 372
567, 566

35, 789
52, 438
479, 716

36, 152
52, 454
496, 247

31, 162
47, 248
443, 884

24. 204
37, 985
346, 104

27, 380
37, 423
337, 721

29, 069
45, 380
396, 438

38, 860
65. 422
592, 717

43, 447
73, 847
681, 614

4,421
4,259
44, 804
41, 473
518, 021 1, 633, 908

43, 197
number
_ thous. of sq. ft. . 65, 180
thous. of doL. 590, 848

numberthous. of dol._

1.583
183, 080

2,016
186, 868

2,204
183, 973

2,151
190, 884

1,927
160, 368

1,756
141,335

1,457
101, 903

1,233
117, 809

1,064
138,859

840
130, 814

930
124, 885

1,429
193, 714

1,814
241, 740

number
thous. of doL-

459
83,042

407
91, 091

500
126, 527

514
104, 269

358
58, 920

332
57, 342

351
35, 066

310
42, 369

302
1 56, 369

297
75, 880

296
62, 479

441
71, 547

387
111, 907

228
200
199
170

234
197
193
166

234
192
200
174

177
182
162
179

163
175
156
176

149
169
147
168

134
156
140
160

141
141
156
146

134
124
166
145

132
118
161
142

136
145
156
163

Value of contract awards (F. R. indexes) :f
Total unadjusted
1947-49—100.
Residential, unadjusted,
_ do
Total adjusted
do
Residential adjusted _ _ _ _
do
Engineering construction:
Contract awards (E. N. R.)§

44, 755
49, 498
52, 700
44, 334
46, 319
42, 435
42, 735
1, 374, 991 2, 572, 961 1, 408, 932 1,379,830 1,262,811 1, 082, 855 1,051,419
583,146
456, 319 1, 474, 166
486, 452
317, 731
615,370
306, 604
825, 786
918, 672 1, 098, 795
776, 359
764, 460
765, 124
744, 815

thous. of dol..

1, 043, 434 1, 267, 995 1, 027, 087 1,378,640 1, 145, 715

917, 158 1, 026, 973 1, 024, 775

Highway concrete pavement contract awards:©
7, 562
4,342
5, 946
4, 959
2,856
4,508
9,248
Total
thous. of sq. yd..
2, 841
714
458
275
1,278
4, 335
966
Airports
.
do
2,329
1,
939
1.681
1,957
1,436
803
2,840
Roads
do
2,202
2.782
2,036
2,339
2,358
1,777
2,073
Streets and alleys
do
r
l
Revised.
Data include some contracts awa rdcd in pri or months but not re 3orted.
JS ^e note ma rked "f" on p. 8-5.
d" For actual wholesale prices of individual comnlodities, se e rospectiv p commodi ties.

3, 757
671
1,814
1,271

* -TV

9 Revisions for January-March 1951 are shown at bottom of p. S-4.
§Data for May, August, and November 1951 and January 1952 are for 5 weeks; other months, 4 weeks.
reeks.
©Data for May, August, and November 1951 and January 1952 are for 5 weeks; other months, 4 week




9/1 f\f

f I

829, 173 1, 196, 798
i 4, 159
1
413
1
2, 197
i 1, 549

3,487
621
1,497
1,369

'166
' 183
r
164
'174

196
216
171
184

788, 429 1,042,851 1, 180, 340
3, 723
879
988
1,856

5,411
427
3,289
1,695

5,386
238
2,901
2,248

itract awards

SUKVEY OF CUREENT BUSINESS

June 1952

S-7
1952

1951

Unless otherwise stated, statistics through
1950 and descriptive notes are shown in the
1951 Statistical Supplement to the Survey

April

May

June

July

August

September

October

November

December

January

F

r

£™-

March

April

CONSTRUCTION AND REAL ESTATE—Continued
NEW DWELLING UNITS AND URBAN
BUILDING
New permanent nonfarm dwelling units started
(U S Department of Labor)
number
Urban building authorized (U. S. Dept. of Labor):
New urban dwelling units, total
number-Privately financed, total
_ __ do_ __
Units in 1 -family structures
do
Units in 2-family structures
do.
Units in multifamily structures.
__do
Publicly financed, total
do_ __
Indexes of urban building authorized :t
Number of new dwelling units
1947-49=100__
Valuation of building, total
.. do
New residential building
do
New nonresidential building
_ do __
Additions, alterations, and repairs
do

1

96,200

101, 000

132, 500

90, 500

89,100

96, 400

90,000

74,500

60,800

64,900

77, 700

98,000

54, 137
50, 565
42, 865
2,857
4,843
3.572

57, 765
54,688
43, 957
2, 514
8,217
3,077

83,991
47, 134
37, 867
2,622
6, 645
36,857

45, 684
42, 092
33, 323
2,432
6,337
3,592

48, 002
47, 182
38, 036
2,669
6,477

43, 180
42, 187
35, 580
2,489
4,118

820

51, 607
50, 491
40, 370
2,995
7,126
1,116

993

34, 989
32, 681
27, 781
1,766
3,134
2,308

27, 807
26, 782
21, 224
1,700
3,858
1,025

37, 666
34, 547
28, 374
2,386
3,787
3,119

45, 670
43, 157
34, 972
3,017
5,168
2,513

57, 887
49, 795
40,111
3,459
6,225
8,092

64,695
56, 069
45,838
3,486
6,745
8,626

••r 120. 2
144. 9
r
!58. 1
r
136.
3
r
115. 3

121.2
146.9
158.2
132.8
136.8

179.4
178.2
233.5
112.1
122.6

98.2
127.0
127.7
124.5
130.4

106.9
138.1
137.5
143.3
128.7

114.1
149.9
155.6
153.5
120.2

94.4
117.8
121.8
110.0
120.9

76.5
96.6
97.6
100.3
84.6

61.3
77.0
75.3
80.5
75.5

82.1
91.8
99.7
80.8
87.8

100.9
107.5
126 2
81.4
97.4

130. 1
140.7
166 1
110 3
115.1

141.1
149.9
182.4
110.9
117.5

114.9

115.4

115.8
373

116.1

116.3

117.0
374

117. 5

117.6

117.5
374

118.2

118.1

118.4
374

118.7

527
556
544
488
512

528
557
545
490
512

535
561
545
495
530

380

380

543
581
550
497
535

544
582
551
498
537

545
582
552
499
541

377

378

542
581
549
497
535

379

379

539
573
548
494
533

379

378

538
562
548
495
532

538
562
548
494
532

378

535
557
545
495
530

536
561
546
495
532

376

531
557
545
490
529

230.7
232.8
243.6

232.6
234.3
245.0

233.2
234.6
244.9

233.4
234.6
244.2

233.5
234.8
244.4

234.2
235.6
245.7

235. 1
236.4
246.8

235.1
236.4
246.9

235.9
237. 2
246.9

232.2
232.7
238.9
248.0
218.5

234.5
234.5
240.4
249.0
219.7

235.0
234.9
240.5
248.7
220.2

235. 4
235.1
240.2
247.7
220.5

235.5
235. 2
240.4
248.0
220.5

236.1
235.8
241.5
249.7
221.0

236.8
236.5
242.5
251.1
221.5

236.9
236.5
242.5
251.1
221.5

243.8
242.5

245.1
243.6

245.1
243.4

244.6
242.5

244.8
242.8

246.1
244.3

247.3
245.6

401.1
542.9

400.8
542.7

400.4
542.4

400.1
542.8

399.9
542.6

403.4
546.5

404.5
547.2

108, 000

CONSTRUCTION COST INDEXES
Department of Commerce composite t-_ 194 7-49 =100. _
Aberthaw (industrial building)
1914—100
American Appraisal Co.:
Average 30 cities
1913=100
Atlanta
_ _
_
do
New York
do
San Francisco __ ._ .
do. _.
St Louis
do
Associated General Contractors (all types)
do
E. IT. Boeckh and Associates, Inc.:
Average, 20 cities:
Apartments, hotels, and office buildings:
Brick and concrete.. U. S. avg. 1926-29=100..
Brick and steel
do
Brick and wood
_ do. _ _
Commercial and factory buildings:
Brick and concrete
do
Brick and steel
do
Brick and wood
do
Frame
do
Steel
do
Eesidences:
Brick
_
do
Frame..
_ __
do
Engineering News-Record :d"
Building
1913=100
Construction
__
do
Bu. of Public Roads— Highway construction:
Composite, standard mile
1925-29= 100. .

161.8

378

378

379

237.0
237.9
248.0

236.7
237. 4
247.8

237.2
237 7
248 0

238.3
238.5
248.9

237.7
237.0
242.7
250.5
221.9

239.2
238.0
243.8
251.9
222.6

239. 0
237 9
243.7
251.5
222.4

239.7
238 3
244 0
251.5
222 7

241.0
239.3
245.1
252.1
223.3

247.3
245.7

247.3
245.4

248.5
246.5

248 3
246.2

248 5
246 2

249.4
246. G

405.6
547.7

405 6
547.8

406.1
549.3

407 2
550 6

r 407 9
554 1

410 4
557.1

164.8

166.7

169 1

CONSTRUCTION MATERIALS
Production of selected construction materials, index:
Unadjusted
1939=100
Adjusted
- do_ __

169.5
170.5

180.9
171.0

175.4
163.9

156.7
147.3

176.4
155.8

163.5
152.1

178.0
160.6

157.3
158.7

134 6
152.3

140.2
164.2

r
r

140 5
170. 3

v 151 5
v 160 3

REAL ESTATE
Home mortgages insured or guaranteed by—
Fed. Hous. Adm.: New premium paying
164, 669
146, 237
145, 738
131, 485
140, 528
thous. of dol_. 161, 584
153, 744
144, 596
124, 701
159, 063
125, 629
125, 363
123, 807
291, 906 r 264, 153 r 319, 365 r 317, 047 T 271, 148
308, 639
296, 748
Vet. Adm.: Principal amount
_do_ _. 298, 950
301, 276
267, 958
244, 042
242, 103
235 651
Federal Home Loan Banks, outstanding advances
762
774
770
747
781
816
752
to member institutions
mil of dol
760
665
806
581
612
589
New mortgage loans of all savings and loan associa437,
967
475,
383
473,
885
439,
615
430,
482
486,
435
439,
398
486,
999
404, 033
tions, pstimated total
thous. of doL.
400, 443
549, 140
427, 835
514,098
By purpose of loan:
140, 567
153, 678
149, 225
132, 330
139, 951
128, 665
149, 788
154, 763
Home construction
do
125, 287
115, 168
131 487
182 636
171 907
193, 359
219, 331
213, 666
207, 123
224, 819
200, 025
202, 159
220, 506
Home purchase ._
_. do
182, 710
183, 733
185 920
213 723
238 587
49 446
39, 685
38, 687
38, 289
37,613
42, 184
36, 551
Refinancing
do
42, 794
37, 920
37, 322
49 104
37 906
43 397
16, 285
18, 107
17, 831
Repairs and reconditioning
do
18, 870
17, 571
14, 785
18,917
18, 558
12, 895
15, 033
21 797
15 567
18 959
All other purposes. . .
_ do
48, 071
44, 718
50, 482
48, 933
50, 727
45, 300
46, 953
50,378
45, 819
48 603
51 464
56 674
60 405
New nonfarm mortgages recorded ($20,000 and
under) estimated total
thous. of dol 1, 370, 848 1, 443, 538 1, 422, 262 1, 370, 201 1, 448, 967 1, 308, 421 1, 483, 786 1, 366, 073 1,308 151 1 298 254 1 270 908 1 393 317 1 482 161
11.2
11.3
11.2
12.0
11.0
11.6
11.0
Nonfarm foreclosures, adjusted index_1935-39=100._
11.5
10.8
11. 1
11.7
11.6
62, 965
58, 744
56, 403
52, 220
55, 416
Fire losses
thous. of dol. _
53, 398
60, 064
54, 660
74, 155
68, 206
69, 925
72, 254
67, 380

DOMESTIC TRADE
ADVERTISING
Advertising indexes, adjusted:
Printers' Ink, combined index
1935-39=100__
Magazines ._
__ __ _ .. do
Newspapers
do
Outdoor _
do
Radio,
._
_.do
Tide advertising index
do. _
Radio advertising:
Cost of facilities, total
thous. of dol._
Automotive, incl. accessories. _ _
__ do __
Drugs and toiletries
do
Electric household equipment .. _ _ do _.
Financial
do
Foods, soft drinks, confectionery .
do
Gasoline and oil
do
Soap, cleansers, etc
do
Smoking materials
._ do
All others
do
r

393
338

337
340
286

394
355

324
323
286

332.9

328.4

15, 906
385
4, 535

16, 577
379
4,829

4,428

4,592

465

479

1,647
1,901
2,130

1,785
1,914
2,162

139
276

147
288

385
350
303
331
283
328.9

410
368
314
319
279
294.7

418
376
319
340
269
318.9

411
379
304
314
239
327.0

429
403
307
341
257
315.2

427
347
317
347
258
316 7

435
357
3049
35
253
272 5

453
379
293
346
244
337 g

447
369
304
401
253
334 3

438
371
300
362
248

14, 853
303
4,375
129
294
3,940
454
1,649
1,831
1.878

11, 731
227
3,124
137
269
3,263
432
1,073
1,375
1,832

11,789
256
3,060
143
298
3,310
440
1,204
1,331
1.747

11,849
299
3,085
153
278
3 240
402
1 275
1,269
1.848

14, 948
377
3 991
266
307
4 170
459
1 631
1 855
1.893

14, 377
339
3 699
274
315
4 127
445
1 546
1 841
1.793

14, 619
464
3 751
147
326
4 090
512
1 432
1 794
2.102

14. 520
' 407
3 993
224
359
3 917
475
1 592
1 772
1.781

13, 561
276
3 691
204
353
3 792
447
1 482
1 590
1 . 726

14, 520
329
3 949
204
348
3 862
493
1 558
1 632
2 14n

439
404

294
362
247

13, 944
319
3 843

171
356

3 802

431

1 624
I 596
1.801

Revised.
» Preliminary.
1 Data for May 1952,107,000.
fRevised series. Indexes reflect use of new base period; revisions prior to February 1951 for urban building and prior
to April 1951 for construction costs will be published later.
ef Data reported at the beginning of each month are shown here for the previous month.




SUEVEY OF CURRENT BUSINESS

S-8
Unless otherwise stated, statistics through
1950 and descriptive notes are shown in the
1951 Statistical Supplement to the Survey

June 1952
1952

1951

April

May

June

July

August

September

October

November

December

January

February

March

April

DOMESTIC TRADE—Continued
ADVERTISING — Continued

Magazine advertising^
Cost, total
thous. of dol__
\pparel and accessories
do
\utomotive incl accessories
- do
Building materials
do
Drugs and toiletries
do
Foods, soft drinks, confectionery
do
Beer wine liquors
do

52, 737
4,623
3,835
2,933
5,845
6,628
2, 695

47, 445
3,187
3,828
2,505
6,217
6,378
2,541

34,694
879
3,308
1,483
5,459
5,838
2,354

35,961
3,484
3,400
1. 395
4,568
5,274
1,952

54,268
6,681
4,154
3,136
6,024
6,617
2,451

61,987
5,635
4, 587
2,962
6,963
8,929
3,118

55, 520
4.232
3,635
1,937
6,674
7,881
3,254

46, 113
3,333
2,985
865
5.698
6,247
4,443

31.904
1.673
2.476
1.208
4.543
4.692
1,590

44,629
3.108
2.878
1,919
6,107
7,147
2,290

' 1, 324
•• 13, 492

3,949
3,477
2, 735
1,525
1,381
13, 111

3,652
2.201
3,320
1,518
1,661
10, 436

1.654
840
2,234
942
1,478
8,236

1,668
1,007
2,310
956
1,138
8,808

3,952
3,368
3,240
1, 185
1,341
12, 119

4,713
4,302
3,704
1,612
1,235
14,229

3,839
3,506
3.309
1,361
1,170
14,722

3,136
2.099
2,891
854
1,532
12, 028

762
1.176
2. 372
736
1.088
9,588

thoas. of lines..

1531

3,926

3,221

3,260

3,934

4,845

4,849

4,129

3.346

do
. do ...
do. _ _
- do _
do _ _
do
do

226,647
52, 165
174. 482
10,158
2,627
38, 078
123, 619

226, 207
53,766
172, 441
11,509
2,455
36.120
122, 357

202. 047
49, 861
152, 186
10, 814
2,214
30, 166
108,992

178, 389
48, 762
129,627
9,807
2,846
23, 690
93,284

192, 528
50.887
141, 640
9,574
1,852
23,364
106.851

211,499
51, 465
160, 033
7,889
2, 234
30, 318
119, 592

228,673
51, 844
176, 829
9,811
2,732
37,983
126, 303

230, 083
47, 780
182, 304
9,519
2,417
34, 510
135, 858

7, 183
128,681

6,756
122,605

7,731
121. 273

6,238
116,606

6,485
118, 392

6,333
114, 593

7,168
126,545

6,878
121, 892

Household equipment and supplies
Household furnishings
Industrial materials
Soaps cleansers etc
Smoking materials
All other
Linage, total

_ __ __

Newspaper advertising:
Linage total (52 cities)
Classified
Display, total ._. _
Automotive
Financial
_
General
Retail

_

do
do
do.
do
do
do

' 56, 210

' 5, 035
-r 3, 985
3, 065
' 6, 591
<• 7. 393
' 2, 751
' 4, 076
' 3, 580
r 3, 154
'1,763

60, 247
5,420
5, 095
3,054
7,065
7,854
2,851

59,648
5,029
4,999
3,683
6.469
7,150
2,477

2,167
1,521
2,887
971
1,209
12, 424

3,970
2,709
3,769
1,356
1, 357
' 15, 748

4.401
3.644
3^872
1.466
L259
15, 199

3,466

3,985

4.855

4,468

214,041
42,998
171,043
6,559
2,526
25. 044
136, 915

178, 077
46, 345
131, 731
8,208
3,663
21,020
98,840

184,640
46, 621
138, 019
7,889
2,282
25, 749
102, 100

213. 228
52,943
' 160, 285
'8,553
'2,756
30,203
118, 773

218. 407
52,790
165. 617
9, 565
3,133
31. 742
121,177

7,271
124t 214

7.268
130, 038

6,948
124, 086

8,025
147, 902

7, 255
132, 616

r

POSTAL BUSINESS
Money orders, issued (50 cities) :
Domestic:
Number
Value

thousands
thous of dol

PERSONAL CONSUMPTION
EXPENDITURES
Seasonally adjusted quarterly totals at annual rates:

202.4

204.0

206.7

209 6

do
do

25.9
10.8
11.0
4.0

25.2
9.7
11.4
4.1

25.0
9.4
11.4
4.2

25.0
9.5
11 2
4 3

Nondurable
goods total
Clothin°r and shoes
Food and alcoholic beverages
Gasoline and oil
Semidurable housefurnishings
Tobacco
Other nondurable goods

do
do
do
do
do
do
do

110.1
19.5
67.1
5.5
2.0
4.6
11.3

111.5
19.7
67.9
5.5
2.1
4.7
11.6

113.6
20.2
69.1
5.6
2.0
4.8
11.9

115 6
20.3
70 8
5 7
2 0
4 9
12.0

Services
Household operation
Housing
Personal services

do
do
do
do

66.5
10.2
21.3
4.0
3.9
5.7
21.3

67.3
10. 1
21.7
4.0
4.1
5.7
21.6

68.1
10.2
22 2
4. 1
3.9
5.8
21.9

69 0
10.4
22 5

S

Automobiles and parts
Furniture and household equipment

Transportation

do

3^9
5.9
22.2

RETAIL TRADE
All types of retail stores :f
Estimated sales (unadjusted), total- _mil. of dol..
Durable-goods stores 9
do. ..
Automotive group
do
Motor-vehicle dealers
do
Parts and accessories
do
Building materials and hardware group 9
mil. of dol..
Lumber and building materials
do
Hardware
do_.
Homefurnishings group.
do
Furniture and housefurnishings
do
Household appliances and radios.. _do._
Jewolrv stores
do
Other durable-goods stores 9
do
Nondurable-goods stores 9
. do
Apparel group _
_ _ do_ ..
Men's clothing and furnishings
do
Women's apparel and accessories
do
Family and other apparel
do
Shoes . . .
do
Drugstores
do
Eating and drinking places 9
do
Foodgroup9
- __do
Grocery and combination
do
Other food 9- -- do
Gasoline service stations
do
General-merchandise group
do __
Department, including mail-order 9 -do
Variety
do
Other general-merchandise stores
do
' Revised.

11, 898
4,316
2,227
2,092
134

12, 736
4,623
2, 383
2,245
138

12,660
4,520
2, 343
2,202
140

11,543
4.037
2,089
1.956
133

12. 508
4.409
2,287
2,144
143

12. 410
4, 190
2,121
1,988
133

13,190
4.451
2,142
2,000
142

12, 702
3. 992
1,880
1,742
138

14. 632
4.106
1.765
1,611
154

11,338
3,597
1.872
1,755
117

11.181
3,696
1,967
1.850
117

915
673
242
596
377
220
81
498

1,005
734
271
617
408
210
90
528

970
715
255
606
392
214
96
505

900
674
226
546
349
197
71
430

949
713
236
642
406
236
79
453

904
667
237
634
389
245
80
451

1,023
764
259
698
437
261
89
498

862
617
245
707
443
264
109
435

791
492
299
804
505
299
244
502

693
499
194
542
340
203
76
414

703
503
199
548
338
210
71
408

7,582
729
154
303
152
120
349
909
2,846
2.290
556
678
1.323
807
190
326

8,114
814
176
322
172
144
365
962
3,058
2,458
600
714
1.448
872
211
366

8.140
792
193
290
163
147
369
960
3,156
2,561
594
718
1, 413
840
216
358

7,506
588
139
212
125
111
361
945
3.020
2,410
610
720
1,181
680
197
304

8.099
648
133
262
138
114
367
1.005
3,211
2,584
628
734
1,388
82.5
216
347

8,220
820
163
336
176
145
359
986
3,160
2,546
614
699
1, 465
889
216
361

8,739
899
1%
370
199
135
375
1,008
3,141
2,516
625
737
1.620
1.001
236
382

8.709
945
224
379
216
127
361
933
3,152
2,550
602
713
1.762
1. 123
246
393

10, 526
1,295
'331
479
312
174
495
968
3,461
2,831
630

7,741
728
184
279
158
108
360
939
3,058
2.467
591
659
1,168
713
172
282

7,485
639
143
258
137
101
366
903
2,986
2. 422
564
635
1,151
690
187
275

2, 5 17
1.494
478
546

r

12, 134
' 3, 978
2.107
1,981
126

12, 704
4, 388
2,329
2 18^
'l40

'745
r
527
218
569
367
202
72
484

877
623
254
58H
385
19S
76
623

' 8, 157
'795
164
328
175
' 128
376
'948
3,201
2,601
600
677
r
1, 307
790
205
'312

8,315
898
181
358
193
166
370
952
3, 108
2. 508
600
705
1.464
871
238
356

^Unpublished revisions for January, February, March, and October 1950 and January and February 1951 are available upon request.
t Revised series. Estimates of sales and inventories for all types of retail stores and data on sales of chain stores and mail-order houses have been revised in general back to 1940; some
components were revised beginning 1935. For data for earlier periods (through 1947 for sales and 1950 for inventories)) and
and appropriate explanations, see pp. 15-23 of the October 1951 SURVEY;
sales figures beginning 1948 have been further revised since the October SURVEY and are available upon request.
9 Revised beginning 1935.




SUEVEY OF CUKRENT BUSINESS

June 10">2
Unless otherwise stated, statistics through j
1950 and descriptive notes are shown in the j
1951 Statistical Supplement to the Survey j
i

S-9
1952

April

I
[
I

May

June

July

August

September

October

November

December

!

January | ™jn-

March | April

DOMESTIC TRADE—Continued
RETAIL TRADE —Continued

All types of retail stores f— Continued
Estimated sales (unadjusted), total— Continued
Nondurable-goods stores 9 — Continued
Other nondurable-goods stores 9 - - .mil. of doL
Liquor
- do
A 11 other 9
do
Estimated sales (adjusted), total
do
Durable-goods stores 9
do
Automotive group
do
Motor-vehicle dealers
do__
Parts and accessories
do
Building materials and hardware group 9 do
Lumber and building materials
do
Hardware
do
Homefurnishings group
-- do
Furniture and housefurnishings_ _ _do
Household appliances and radios
do
Jewelry stores
do
Other durable-goods stores 9 --- do__
Nondurable-goods stores 9
Apparel group
Men's clothing and furnishings
Women's apparel and accessories
Family and other apparel
Shoes
Drugstores
_Eating and drinking places 9

749
195
554

752
204
548

732
210
522

692
186
506

746
200
547

731
211
520

958
347
611

843
226
618

1,062
372
691

12, 285
4, 276
2.136
1.998
138
929
691
238
635
395
240
103
473

12, 411
4,272
2,213
2,085
128
897
658
239
582
369
213
96
484

12, 240
4,186
2,170
2.048
122
874
641
233
586
370
216
94
462

12,058

12,429

3, 967
1,983
1,863
120
872
647
225
586
381
205
94
432

4,133
2, 125
2,000
125
852
621
231
624
396
228
91
441

12, 258
4,138

12, 551
4,189
2,144
2,014
130
863
624
239
631
399
232
92
459

12, 492
4,036
2.007
1,874
133
820
580
240
656
410
246
100
453

12 318
3,918
1 930
1 801
129
805
568
237
625
405
220
95
463

8,009

8.139
826
185
321
182
138
368
958

8,054

8,091
818
199
308
176
135
369
929

8,296

8,456

819
196
314
175
134
373
944

8 120
776
168
314
166
128
369
944

8,362

785
174
311
170
130
371
950

819
184
326
177
132
374
947

844
191
335
186
132
372
955

3,059
2,458

3.045
2,464

3,067
2,456

581
690
J.452
880
227
345
761
220
541

611
663
1,470
903
238
329
775
221
554

3,164
2, 555
609
682
1,533
922
246
365
781
227
554

3 087
2,493
594
684
1 485
901
232
352
775
221
554

3,078

601
680
1, 476
879
234
363
772
221
551

2,471
607
705
1,486
885
237
364
953
347
606

10. 847
20, 346
9.598
3.151

20 570
9,870
10, 700
20,643
9,684
3,239

19 718
9,583
10, 135
20,282
9,562
3,141

18, 777
9,072
9,705
20, 045
9,494
3.058

18, 715
8,638
10, 077
19, 429
9,154
2,921

18 882
8 465
10 417
18 761
8,693
2 717

2,347

2,349

2,367

2,436

2,393

1,989
668
1,443

1,985
655
1,456

1,940
632
1,428

1,828
635
1,377

2,303

1,977
639
1,438

10, 748
2,356
719
2,080
3,613
1,980

10, 959
2,498
723
2,072
3,625
2,041

10,720
2,586

10, 551
2,588
710
1.909
3.423
1,921

2,564

- do
__do
do
do
do
do__
do
do

788
178
311
175
124
365
925

Food group 9
-- do
Grocery and combination
do
Other food 9
do
Gasoline service stations
_
do
General-merchandise group 9
do
Department, including mail-order 9 --do
Variety
do
Other general- merchandise stores
do
Other nondurable-goods stores 9
do
Liquor
-- -do
Allother9
do

3,000

2.419
581
694
.1.448
878
224
346
789
219
570

Estimated inventoriesrf
Unadjusted total
do
Durable-goods stores
do - .
Nondurable-goods stores
do
Adjusted total
- do _
Durable-goods stores
do
Automotive group
do
Building materials and hardware group
mil. of dol_.
Homefurnishings group
do.. _.
Jewelry stores
do Other durable-goods stores
do- _
Nondurable-goods stores
Apparel group
Drugstores
Food group
General-merchandise group
Other nondurable-goods stores
Chain stores and mail-order houses :tcf
Sales, estimated, total
Apparel group
.
__ __
Men's wear
Women's wear
Shoes
Automotive parts and accessories
Building materials

do
do
do
do
do_.
do
do
-do
do
do
do
_ do
do

Drugstores
_ _ __ _ _
do_ _
Eating and drinking places
do _.
Furnittire and housefurnishings
do
General-merchandise group..
_ _ do_ _
Department, dry goods, and general merchandise ._
_
mil. of dol
Mail-order (catalog sales)
do
Variety
_
do_ .
Grocery and combination _- _ .
_ do Indexes of sales :f cf
Unadjusted, combined index
1935-39=100..
Adjusted, combined index
do
Apparel group
do
Men's wear
._
do
Women's wear
do
Shoes
._
do _
Automotive parts and accessories
.do
Building materials _.
___ do
Drug stores
do
Eating and drinking places
do
Furniture and housefurnishings. ..
do
General-merchandise group
_ _ do
Department, dry goods, and general merchandise
.1935-39=100..
Mail-order
do
Variety
__do
Grocerv and combination
__do

* Revised.
t Revised series; see note marked "t" on p. 8-8.




20,837
9,990

r

704
1.994
3,446
1,990

2. Ill
1, 975
136
832
593
239
630
388
242
93
472

829
206
624

805
205
600

^852

650
150
023
878
146
880
631
249
649
417
233
103
494

12 862
4,390
2 214
2.058
156
930
671
259
648
408
240
97
501

«• 12, 399
'4.083
r
2, 010
1,866

'619
251
624
403
222
98
481

701
283
239
099
141
865
621
244
604
39"?
21°
95
480

8 400
822
178
332
184
128
386
933

8 500
863
197
339
194
134
378
980

8,472

" 8, 316
806
180
308
185
133
382
r
976

8 418
828
1"8
326
188
136
384
07 1

3.183
2.586
597
714
1,545
941
232
372
843
208
635

3 187
2 595
592
719
1 .534
917
233
384
819
212
607

3 235
2 619
616
721
1 490
910
235
345
833
226
606

3,191
2,578
613
729
1.486
896
237
354
830
232
598

19 383
8, 637
10, 746
18 545
8,679
2,744

19. 657
8,578
11. 079
18, 280
8,385
2,700

17 300
7 939
9 361
18 093
8,218
2 613

17 414
8 007
9 407
18 061
8.197
2 532
2,284

2,372

1 554
504
1 233

1,498
580
1,227

12
4
9
1

2,399

2,236

1 770
596
] 307

1,664
567
1,305

1, 618
570
1,261

2,172
1 588
609
1 236

10, 275
2, 475
702
1,873
3.327
1,898

10, 068
2 386
699
1 941
3 193
1 849

9,866

9,895

9,875

2 299
712
1 929
3,056
1,870

2, 282
684
2.002
2,977
1,950

2 244
670
2 096
2 950
1 015

9, 864
2 206
680
1 953
3 114
1 911

831
192
327
178
134
390
1,014

r

17, 986
8,127
9,859
17, 980
8,160
2,483

T

r

T

r

9, 820
2 232
097
2 006
2 993
1,892

2,797

2,840

237
28
94
70
51
102
73
63
45
803

186
18
80
53
55
103
74
67
47
812

2 glO
237
9
5
99
68
47
105
72
64
47
831

3 008
246
31
104
62
49
120
77
66
55
905

3 007
251
35
105
60
47
95
73
63
56
957

3 819
366
51
150
90
69
72
105
68
71
1,386

2 458
173
24
70
44
35
70
73
64
39
594

r 2 451

240
27
100
68
44
103
71
65
45
798

2 526
175
19
72
51
49
98
73
65
39
692

2,754

201
24
84
54
40
94 1
69
62
40
718
452
93
158
903

511
96
175
973

517
90
179
1, 017

438
76
163
906

516
101
179
954

536
100
179
956

567
125
196
970

585
152
203
992

820
152
393
1 111

348
90
143
972

355.9
362.2
274.5

372.1
370.7

367.4
368.3

304 6
200.1
331.3
239.6
231.4
351.3
239.2
276.8
399.9
399.7

292 8
194.3
323.8
223.5
253.3
335.6
247 6
271.6
417.5
388.4

345.2
372 3
301 5
228.2
324 4
226.3
235.8
343 7
247 3
278 8
397.3
402.8

358.5
381.5
303 5
215.3
328.3
234.9
265.1
331.5
249 7
277.8
404.8
417.4

382.7
373 3
293 4
183 0
331 9
226 8
272.4
321 2
251 4
273 7
423 6
392.2

393.5
382 3
302 1
201 6
341 2
228 0
265.5
334 9
253 1
276 2
456 2
399.0

410. 1
384 2
312 8
215 5
351 1
228 8
273.1
332 5
247 3
280 0
460 0
404 1

498. 5
387 0
313 6
218 3
354 3
223 3

558.1

540.7
286.6
252.3
440.8

560.9
295.6
264.2

590.6
272.4

439.1

452. 8

551.0
273 2
257.2
447.8

556 6
283 8
263 5
445.9

564 8
302 0
258 1
459.0

191.8
307.5

195.4
242.7
369.6
241.2
264.9
409.5
383.4
535.8
280.9

248.1
427.5

292.3
260.0
434.5

9 Revised beginning 1935.

283 7

168
20
71
44
38
72
75
61
38
605

818
214
60 K

' 214
638

r!44

12
4
2
2

••870

r

3, 171
2,563
608
717
1. 441
878
225
'337
r
823
' 220
603

r ig
r
8
r
10
T
17

664
454
210
887
P

t o,
8 U/
07u

'2 593

r 2, 270
r
1 427
r 571

r

1,214

r

1 209
9 ,59{)
61 v
724
1 466
870
'^40
356
83 "
23"
600
IS fiA*?

8 6^0
10 013
18 133
8,293
2 744
2.258

1 449
59 K
1 °47

9, 820
T 2 146
r
706

9.840
O -I £p
r

r 2 113

f)

r

3 002

r I

825

"o

A--

rj 058

i 833

r 2 716
r

224
26
98
56
41
r
72
76
64

265
110
"8
00

'^

r 41

49

695

819

346
90
155
963

r 420
91
170
1 045

19"
993

280.2
324 2
246 6
275 1
466 3
402 3

330.1
381 6
303 2
207 1
342 4
220 7
276.6
322 5
253 4
281 7
478 4
405 7

339.8
383 5
302 1
204 5
335 8
228 3
299.2
370 7
260 8
280 3
432 3
407 8

352. 3
371 4
290 5
183 6
334 3
215 5
264.3
338 4
253 6
269 9
419 9
381 4

564 1
296 1
256 8
466.2

569 7
294 6
261 1
453.4

572 7
293 3
263 4
449.2

r 530 2
265 1

^Revisions prior to August 1950 are available upon request.

T

r 250 1
4.50.7

509
Q-

386. 0
381 0
9OW ('

185 Q

qoo i>

227 0
275.0
333 3
OK"

9

282 0
405 4
405 3
568
283
26"r
4A. ,

4
1
6
.1

SURVEY OF CURRENT BUSINESS

S-10
Unless otherwise stated, statistics through
1950 and descriptive notes are shown in the
1951 Statistical Supplement to the Survey

June 1952

1951

April

May

June

July

1952

August

September

October

November

December

January

February

March

April

DOMESTIC TRADE—Continued
RETAIL TRADE —Continued
Department stores:
Accounts receivable, end of month: f
Charge accounts
1947-49=100..
Instalment accounts
do.
Ratio of collections to accounts receivable:
Charge accounts
percent..
Instalment accounts
do
Sales by type of payment:
Cash sales
.percent of total sales..
Charge account sales
.. - do
Instalment sales
.
do
gales, unadjusted, total U. S.f
Atlanta
Boston
Chicago
Cleveland
Dallas
Kansas City
Minneapolis
- .
New York
Philadelphia
Richmond
St Louis
San Francisco

1947-49=100..
do .__
__do
do
do
do ...
do
do
-- - do
- -do
do
do
do

Sales adjusted, total U. S t
Atlanta..
__
"Boston
Chicago
_
Cleveland
Dallas
._
Kansas City
Minneapolis
_
New York
_
Philadelphia
Richmond
..
St. Louis
_
San Francisco
Stocks, total U. S., end of month-.f
Unadjusted
Adjusted

do .
do _ _ „
do
do
do
do
do
do
do _,
do
..do
do
do
do
do

Mail-order and store sales:
Total sales 2 companies
thous. ofdol ,
Montgomery \Vard & Co
do
Sears Roebuck & Co
do
Rural sales of general merchandise:
Total U S unadjusted
1935-39=100 East
do
South
do
Middle West
.
do__ _
Far West
do
Total U S., adjusted
do
East
.
do
South
. do
Middle West
do
Far West
__
do

116
186

118
178

115
171

103
163

103
162

113
166

122
172

136
182

177
197

142
190

124
182

'117
178

121
176

47
18

49
18

49
19

46
18

48
19

47
19

50
21

50
21

45
19

47
19

45
18

48
20

46
18

48
43
9

48
44
8

50
42
8

50
41
9

48
41
11

47
43
10

46
43
11

47
43
10

49
42
9

48
42
10

48
42
10

48
42
10

48
43
9

103
103
101
' 106
106
109
104
101
98
105
109
102
98

99
97
98
99
100
100
97
94
105
99
103
90
97

84
89
73
'85
84
96
85
81
74
76
86
85
93

93
99
82
'95
94
104
102
97
80
83
95
95
101

112
116
110
114
114
124
119
112
106
112
118
111
108

112
116
105
' 112
115
119
117
118
108
114
121
111
107

134
138
129
' 133
140
144
131
120
131
144
145
130
125

'184
203
188
' 176
181
203
185
166
179
185
192
168
189

83
90
81
81
87
95
86
72
80
81
80
81
83

83
93
75
'80
83
93
85
83
82
82
83
80
86

92
108
87
89
95
105
93
80
86
97
96
'89
90

103
116
103
99
104
114
f 104
101
95
103
p 111
101
103

102

104
107
100
106
104
111
104
100
100
104
110
98
104

105
114
98
101
106
113
104
98
108
103
110
98
103

105
111
106
' 100
107
1H
104
101
103
105
105
104
108

109
110
108
' 108
108
115
111
109
106
111
121
106
106

107
111
100
106
108
115
112
101
101
107
109
105
108

108
111
103
'110
112
114
110
104
103
108
114
105
106

112
121
106
' 111
114
129
116
107
104
109
118
109
114

109
121
106
109
109
122
113
104
103
105
109
107
110

108
118
102
'105
115
122
115
'97
100
110
114
111
105

106
111
100
'104
108
115
106
113
100
110
109
100
103

105
113
104
'103
106
115
105
94
98
109
114
'99
102

103
114
99
100
104
114
» 104
98
97
102
f 109
98
106

145
138

139
136

129
136

127
138

129
134

132
128

135
121

133
117

107
119

106
118

113
116

120
' 115

» 122
T 116

311, 771
95, 175
216, 596

328, 424
100, 408
228, 017

322, 649
92,911
229, 738

273, 067
79, 657
193, 410

328, 568
98, 508
230, 060

338, 278
100, 873
237, 405

374, 319
117,371
256, 949

398, 865
121,494
277, 371

477, 842
146, 189
331, 653

248, 926
63, 912
185, 014

246, 182
67, 879
178, 303

279, 095
79, 273
199, 822

332, 482
93, 423
239, 059

287.6
269.5
304.0
270.9
325.5
300.5
271.1
331.2
277.6
348.1

285.3
261.3
293.3
276. 6
317.8
318.1
291.0
353.8
312. 2
354.7

287.0
265. 9
304.2
271.1
349.2
323.6
306.3
371. 4
296.0
385.9

242.6
216.1
263.3
228. 5
307.1
329.2
323.5
376.7
305.9
376.3

294.9
261.8
301.7
281.3
366.1
321.6
298.5
336.0
303.8
375.5

334.1
285.1
369.0
316.1
394.4
302.1
274.9
324.3
293.8
344.8

362.0
325.6
418.0
340.7
403. 8
302.7
271.3
327.1
290.0
359.3

439.3
445.9
500.6
411.6
456. 1
339.0
319.2
365.9
313.2
363.7

499.6
453.7
534.4
468.5
606.5
340.8
314.0
386.4
315.7
386.8

248.5
228.4
273.8
236.3
276.8
328.3
301.3
342.2
315.1
376.1

263.3
242.7
296.1
240.0
284.7
314.6
292.4
340.3
300.0
381.1

276.3
271.1
306.1
257.9
301.4
304.6
273.3
324.9
276.7
337.1

299.6
273.7
319.7
280.2
344.5
306.6
273.2
345.2
281.9
366.1

8,078
2,888
5,190
10, 187
4,875
5,312

8,483
2,858
5,625
10, 235
5,032
5,203

8,265
2,736
5,529
10, 005
5,034
4,971

7,980
2,508
5,472
10, 097
5,019
5,078

9,124
2,889
6,235
9,987
4,867
5,120

8,925
2,836
6,089
10,059
4,792
5, 267

10, 129
3,103
7,026
10, 116
4,723
5,393

9,795
2,812
6,983
10, 077
4,650
5,427

9,237
2, 516
6,721
9,861
4,606
5,255

8,681
2,375
6, 306

4,823
' 5, 189

' 8, 197
2,465
' 5, 732
' 9, 870
4,800
' 5, 070

' 8, 105
2, 537
5, 568
9, 959
4, 924
' 5, 035

8,160
2 726
5,434
9,803
4,968
4,835

'98
101
95
99
103
'105
100
100
'95
'98
100
96
95
104
105
98
104
108
' 110
103
101
102
105
111
98

r

WHOLESALE TRADE*
Sales estimated (unadj.), total
Durable-goods establishments
Nondurable-goods establishments
Inventories estimated (unadj ) total
Durable-goods establishments
Nondurable-goods establishments

mil. ofdol _
do
do
do
do
do

' 10,012

r
r
T
T

EMPLOYMENT AND POPULATIOPf
POPULATION
Population, continental United States:
Total, incl. armed forces overseas
thousands. _

153,699

153,900

164, 122

154,353

154, 595

154,853

155, 107

155,356

155, 575

155, 783

155, 997

156, 197

156, 405

108,879
51,980
56, 899

108, 832
51, 883
56, 949

108, 836
51, 834
57, 002

108, 856
51, 798
57, 058

108, 896
51, 778
57, 118

108, 956
51, 780
57, 176

109, 064
51, 826
57, 238

109, 122
51,824
57, 298

109, 200
51,844
57, 356

109, 260
51,852
57, 408

109, 274
51, 810
57,464

109, 274
51, 7"8
57, 516

109 328
51, 762
57 566

EMPLOYMENT
Employment status of civilian noninstitutional
population:
Estimated number 14 years of age and over,
total
thousands Male
do. __
Female
do
Civilian labor force, total
Male
_
Female
Employed
Male
_ _
Female

.
_
-

Agricultural employment
Nonagricultural employment
Unemployed
_

.

do
do. -_
do

43, 182
18,607

61, 789

62, 803
43, 508
19, 294

63, 783
44,316
19, 467

64, 382
44, 602
19, 780

64, 208
44, 720
19, 488

63, 186
43, 672
19, 514

63, 452
43, 522
19, 930

63, 164
43, 346
19, 818

62, 688
43, 114
19, 574

61, 780
42, 864
18, 916

61, 838
42, 858
18, 980

61 518
42, 810
18 708

61 744
42 946
18 798

do
do
do

60, 044
42, 154
17, 890

61, 193
42, 558
18, 635

61,803
43, 149
18, 654

62, 526
43, 504
19, 022

62, 630
43, 764
18, 866

61, 580
42, 830
18, 750

61, 836
42, 632
19, 204

61, 336
42, 344
18, 992

61,014
42, 106
18, 908

59, 726
41, 480
18, 246

59, 752
41, 482
18, 270

59 714
41, 586
18 128

60 132
41 898
18 234

do
do
do. __

6,645
53, 400
1,744

7,440
53, 753
1,609

8,035
53, 768
1,980

7,908
54, 618
1,856

7,688
54, 942
1, 578

7,526
54, 054
1,606

7,668
54, 168
1,616

7,022
54,314
1,828

6,378
54, 636
1 674

6 186
53, 540
2 054

6 064
53, 688
2 086

6 012
53, 702
1 804

6 412
53, 720
1 612

44, 474
46, 029
45, 053
44, 688
45, 770
45, 612
47, 092
Not in labor force
do
45, 958
46, 512
47, 436
47, 480
47, 756
47, 584
Revised.
*> Preliminary.
fRevised series. Data have been revised to reflect use of new base period and to incorporate other major changes. Revisions back to 1941 for accounts receivable and back to 1919 for sales
by districts and for stocks will be shown later; revisions (1919-50) for total U. S. sales are shown on p. 32 of the February 1952 SURVEY.
*Data on total wholesale trade have been substituted for the series on service and limited-function wholesalers. Figures through 1950 appear on pp. 23 and 24 of the October 1951 SURVEY.
r




SURVEY OF CURRENT BUSINESS

June 1952

Unless otherwise stated, statistics through
1950 and descriptive notes are shown in the
1951 Statistical Supplement to the Survey

S-ll
1952

1951

April

May

June

July

August

September

October

November

December

January

February

March

April

EMPLOYMENT AND POPULATION—Continued
EMPLOYMENT—Continued

Employees in nonagricultural establishments:
Total, unadjusted (U. S. Dept. of Labor)
thousand s__
Manufacturing
do
Durable-poods industries
do_ __
Nondurable-goods industries
do _
Mining total
do
Metal
- do
Anthracite
_ do
Bituminous coal
do
Crude-petroleum and natural-gas production
thousands
Nonmetallic mining and quarrying
do
Contract construction
_
_
do
Transportation and public utilities
do
Interstate railroads
do
Local railways and bus lines
do
Telephone
do_
Telograph
do
Gas and electric utilities
- _ do

45. 998
15, 955
9,003
6,952
911
104
68
382

46, 226
15, 853
8,975
6,878
915
103
70
377

46, 567
15, 956
8,998
6,958
927
105
70
378

46, 432
15, 813
8,839
6,974
906
105
66
359

46, 724
16 008
8 878
7 130
922
105
68
370

46, 956
16 039
8 913
7.126
917
104
68
367

46, 902
15 965
8 942
7,023
917
104
67
367

46,852
15 890
8 976
6 914
917
105
67
368

47, 663
15 913
9 000
6 913
916
106
67
369

255
103
2,471
4,132
1,463
144
629
48
520

258
106
2,598
4,137
1,463
144
630
49
521

265
108
2,686
4,161
1,468
143
637
48
527

268
108
2,754
4,176
1,468
141
648
49
534

270
110
2,808
4 190
1,468
142
652
48
535

269
110
2,768
4 178
1,457
141
648
47
532

269
109
2,761
4,166
1,440
141
649
48
529

269
107
2,633
4,165
1,428
141
653
47
528

269
105
2,518
4,161
1, 426
141
654
47
527

Trade
- do _
Wholesale trade
do_
Retail trade
do
General-merchandise stores
do_
Food and liquor stores
- - do
Automotive and accessories dealers___do
Finance
_.
do
Service
do
Hotels and lodging places
do_Laundries
do
Cleaning and dyeing plants
_ do
Government
do

9,627
2,579
7,048
1,453
1,264
739
1,865
4,745
445
354
153
6,292

9,683
2,568
7,115
1,475
1,271
742
1,874
4,789
452
360
159
6,377

9,732
2,581
7,151
1,458
1,270
750
1,893
4,835
478
365
161
6,377

9,667
2,594
7,073
1,407
1,268
756
1,908
4, 852
510
369
158
6,356

9,641
2, 596
7, 045
1,399
1,260
757
1,914
4,839
507
365
153
6,401

9,781
2,594
7 187
1,487
1,274
754
1,898
4,831
473
362
157
6,544

9,893
2,622
7,271
1,550
1,281
748
1,898
4,770
437
360
159
6,532

10, 109
2,657
7,452
1,701
1,295
759
1,907
4,734
430
357
157
6,497

10 660
2,657
8 003
2,092
1,316
768
1,912
4,702
426
356
154
6,881

Total, adjusted (Federal Reserve)
do
Manufacturing
_ _ _ _ do _
Mining
_
- do
Contract construction
do
Transportation and public utilities . do_
Trade
do
Finance
_ _
do
Service
do Government
- - do_

46, 411
16, 102
914
2,574
4,153
9,773
1, 856
4,745
6,294

46, 507
16, 081
916
2,572
4,140
9,821
1,865
4,765
6,347

46, 626
16, 097
923
2,558
4,132
9,857
1,874
4,787
6,398

46, 602
16, 026
899
2,574
4,134
9,837
1,880
4,780
6,472

46, 555
15, 893
914
2,601
4,143
9,822
1,895
4,791
6,496

46, 465
15, 801
912
2,587
4,157
9,791
1,908
4,783
6,526

46, 415
15, 748
914
2,630
4,173
9,770
1,917
4,746
6,517

46, 482
15, 761
916
2,581
4,169
9,827
1,926
4,758
6,544

46, 608
15,811
916
2,569
4,161
9 893
1 931
4, 749
6 578

f 46, 471
' 15, 830
916
2, 545
4,139
9 852
1 919
4 742
6 528

' 46, 586
'15,867
'912
r
2, 596
'r 4, 144
9, 863
1,929
r
4, 737
6,538

13, 108
7,445
30

12, 993
7,406
32

13, 064
7,409
34

12, 885
7,226
38

13, 069
7,261
41

13, 087
7,279
44

12, 997
7,296
47

12, 904
7,314
50

12,911
7 322
52

' 12, 766
' 7 264
54

'r 12, 808
7 294
55

752
443
317
483
132
1,161

764
449
301
484
131
1,162

773
456
286
485
130
1,172

748
443
284
478
124
1,155

754
449
285
484
130
1,165

745
443
285
482
130
1,162

740
439
289
479
128
1,160

719
428
294
472
125
1,149

696
412
296
465
123
1,164

'654
' 391
296
' 452
' 119
' 1, 162

'665
396
296
'448
120
1,160

562

565

572

572

575

573

570

558

573

' 570

47

46

48

47

48

47

47

47

47

859

850

843

813

817

810

809

805

806

133
1,239
718
1,243
774
309
94
56
221
422

130
1,242
707
1,233
752
318
95
58
222
409

128
1,252
704
1,237
738
333
98
59
223
400

123
1,235
684
1,187
684
347
101
47
221
383

122
1, 209
696
1,198
675
357
99
57
224
388

121
1,219
707
1,211
679
360
102
60
226
388

120
1,242
707
1, 205
667
362
104
62
228
390

120
1,255
718
1,234
655
395
111
63
230
388

119
1, 269
726
1,235
645
407
111
63
232
381

115
' 1, 276
'725
' 1, 235
^633
415
' r 115
62
232
"•374

114
' 1, 281
726
r 1,r 246
630
424
'r 122
61
'232
380

114
' 1, 277
' 722
' 1, 253
630
427
126
61
' 232
'381

5,663
1,085
229
103
128
190
143
76
1,214
567
230

5,587
1,099
229
110
137
190
145
74
1,206
574
222

5,655
1,146
233
116
154
192
155
76
1,205
588
216

5,659
1, 225
236
116
226
192
161
75
1,167
574
210

5,808
1,307
233
114
305
192
161
84
1, 152
561
212

5,808
1,330
235
108
330
193
156
89
1,136
5,r>l
205

5,701
1,254
236
103
238
195
150
89
1,133
546
209

5,590
1, 160
246
99
145
192
147
85
1,132
544
209

5, 589
1,122
252
96
120
190
146
85
1, 141
548
211

»• 5, 502
' 1, 068
246
' 94
106
187
136
82
r
1,131
* 540
-•209

' 5, 514
' 1. 061
244
' 95
106
187
134
80
r
1,121
' 525
' 210

' 5, 499
'1,058
240
96
104
186
138
' 78
r
1,111
516
210

v 5, 400
v 1, 052

1,047
138

998
135

1,000
135

990
129

1,047
139

1,037
138

1,019
131

1,008
117

1,035
123

r

r

' 1, 050
127

P989

Production workers in manufacturing industries:
Total (U. S. Dept. of Labor)
__thousands__
Durable-goods industries
do
Ordnance and accessories
do
Lumber and wood products (except furniture)
_- - thousands
Sawmills and planing mills
do
Furniture and fixtures
_ -_
do
Stone, clay, and glass products __ _ do _
Glass and glass products
_
do
Primary metal industries
do
Blast furnaces, steel works, and rolling
millst
-thousands
Primary smelting and refining of nonferrous metals
thousands
Fabricated metal prod, (except ordnance, machinery, transportation equipment)
thousands—
Heating apparatus (except electrical) and
plumbers' supplies
thousands
Machinery (except electrical)
do
Electrical machinery
- do
Transportation equipment
do
Automobiles
_ _ __ do
Aircraft and parts
do
Ship and boat building and repairs do
Railroad equipment
Instruments and related products
Miscellaneous mfg. industries

do
do
do_

Nondurable-goods industries
do
Food and kindred products,
do
Meat products
do
Dairy products
do
Canning and preserving
do
Bakery products
_
do
Beverages
do
Tobacco manufactures
_
do
Textile-mill products
do
Broad-woven fabric mills
do __
Knitting mills
_ _
do_
Apparel and other finished textile products
thousands
Men's and boys' suits and coats
do
Men's and boys' furnishings and work
clothing
thousands.W omen's outerwear
do
Paper and allied products
_ _ do
Pulp paper and paperboard mills do
Printing, publishing, and allied industries
thousandsNewspapers
do
Commercial printing
~do_ r

Revised.

» Preliminary.

T

"r 45, 913 «•r 45, 891
15 849
15 776
'8
946 "8
997
r
r
6r852
6, 830
903
909
107
107
67
'62
r
367
366
r

268
267
'101
r 101
' 2, 310
2, 316
' 4 103 r 4, 108
1,394
r 1, 392
141
141
653
660
47
47
525
' 526

268
'102
»• 2, 303
' 4, 116
1,395
139
663
48
526

* 9, 720
' 2, 622
r
7, 098
r
1,472
«• 1, 282
' 749

9,664
' 2, 621
r 7, 043
«• 1, 429
' 1, 287
'739
r
1, 936
' 4, 682
430
353
154
6,528

v 6, 551

r
T

46, 516
15, 861
'906
2, 531
4,152
9 858
1,936
4,729
6,543

•p 46, 499
» 15,886
i>902
v 2, 519
v 4, 136
•p 9, 813
v 1, 939
v 4, 750
v 6, 554

r

12, 791 J> 12, 696
' 7 282 i > 7 296
r 5g
v 57

r

r 1, 909
r 4, 671

424
356
154
6 509
r

9,646
2,626
7,020
1,414
1, 286
' 744
1,919
r 4, 666
428
r
353
153
6,490

r

r

' 667
398
' 296
'450
121
1, 153

' 570

566

47

48

48

804

805

••805

1, 029
'127

1,052
r
128

261
267
427
212

253
249
424
213

245
255
426
215

233
271
418
214

238
295
419
215

239
284
416
214

238
270
413
212

233
279
411
212

235
296
410
212

'228
300
405
211

T

r

232
308
M05
210

238
305
'404
210

510
151
168

510
152
168

512
152
169

507
151
167

509
151
166

515
153
167

517
153
169

519
154
170

520
155
171

510
151
••170

' 508
152
r
167

'508
152
167

{Figures for 1939-46 on the revised basis for the indicated series, available since publication of the 1951 STATISTICAL SUPPLEMENT, will be shown later.




r 45, 964
v 46, 246
' 15, 836 v 15 754
' 9, 006 p9,019
p 6, 735
' 6, 830
p899
••899
106
»107
61
r
P355
362

P106
v 2, 418
j>4, 116

v 9, 809
v 2, 599
p 7, 210
* 1,523
v 1, 295
*735
v 1,949
v 4, 750

i>664
J>294
J>454

v 1, 152

P804

p 1 , 274
?708
P 1, 274

p 236
*379

P77
P 1, 095

*398
^507

SURVEY OF CURRENT BUSINESS

S-12
Unless otherwise stated, statistics through
1950 and descriptive notes are shown in the
1951 Statistical Supplement to the Survey

June 3 952
1952

1951

April

May

June

July

August

September

October

November

February

December

January

538
171

536
170

537
' 169

'537
168

' 218

'215

'216

* 216

'343

*335

March '

April

EMPLOYMENT AND POPULATION—Continued
EMPLOYMENT—-Continued
Production workers in mfg. industries— Continued
Total (IT. S. Dept. of Labor)— Continued
Nondurable-goods industries— Continued
Chemicals and allied products
thousands..
Industrial organic chemicals
- do
Products of petroleum and coal
do
Petroleum refining
do
Rubber products
do
Tires and inner tubes
__do
Leather and leather products __
do
Footwear (except rubber)
do
Manufacturing production-worker employment
index, unadjusted (U. S. Dept. of Labor) t
194 7-49= 100__
Manufacturing production-worker employment
index, adjusted (Federal Reserve) t- 1947-49= 100..
Miscellaneous employment data:
Federal and State highways, total §
number..
Construction (Federal and State)
__do
Maintenance (State)
do
Federal civilian employees:
United States
thousands..
Washington, D. C., metropolitan area. -do
Railway employees (class I steam railways):
Total
„_
thousands .
In ri exes:
Unadjusted
1935-39=100..
Adjusted
do

638
168

531
170

528
172

194
150
219
87
353
225

194
151
220
88
331
210

106.0

105. 0

105. 6

107.1

106.8

106.8

198
154
220
90
344
222

526
172

198
154
217
90
336
215

531
174

543
175

544
172

197
154
215
90
320
201

198
154
218
92
343
221

197
154
218
92
327
208

104.2

105.7

105.8

105.1

106.0

104.8

103.9

103.4

542
173

197
154
219
95
317
198

196
155
219
95
323
205

193
153

193
153

^94
342
221

^94
330
213

194
152
94

222

* 534

f 197

104. 3

104.4

r

103. 2

103.5

' 103. 4 :

* 1.02. 6

10b.3

103.5

r

103. 6

103.7

' 103. 5

" 103.7

r

258, 291
92,164
114,672

286, 236
115,462
118,484

315. 230
130,395
128, 859

323, 393
138, 673
128, 024

326, 930
140. 248
129. 429

314, 679
135,562
124, 067

303, 304
128, 757
121, 524

273, 542
99, 528
120, 521

246, 185
75. 055
118.551

230, 985
59, 281
118,621

2,240
247

2,273
248

2, 313
256

2.334
258

2,341
254

2, 330
250

2,335
249

2,342
249

2,344
248

2. 359
249

2, 370
248

2.381
249

2.389
24?

1,321

1,324

1,330

1,330

1,332

1,321

1,305

1, 293

1.285

1,257

1,252

v 1, 255

v 1.264

126.1
128.1

126.4
126.9

127.0
125. 2

127.0
124.3

127.1
124.5

126.1
123.1

124.6
120.5

123.3
122.2

122.2
124.2

119. 9
' 124. 6

119.4
M22.3

»119.6
» 122.6

r- 1 20. 5
f \ 22. ,r»

129.5

128.1

129.8

126.4

128.4

130.9

129.8

129.8

132. 9

r

r

41.0
42.0
42.7

40.7
41.8
43.2

40.7
41.8
42.4

40.2
40.9
43.1

40.3
41.3
43.9

40.6
41.6
44.2

40.5
41.7
44.0

40.5
41.5
43.9

41.2
42.2
45.1

41.4
41.1
41.1
42.1
41.3
42.1

41.5
41.3
40.4
41.9
40.4
41.7

41.9
41.5
40.4
41.8
40.4
41.8

39.8
39.6
39.7
41.4
40.4
41.1

40.9
40.6
40.8
41.5
39.2
40.9

40.6
40.2
41.1
41.5
39.3
41.3

41.3
40.8
41.4
41.7
39.8
41.2

40.6
40.4
41.1
40.9
39.2
41.2

41.6

41.1

41.4

40.8

40.2

41.0

40.4

41.9

41.8

41.9

40.9

41.4

40.4

42.0

41.8

41.8

41.0

41.3

41.7

41.5
43.9
41.3
40.9
39.7
44.0
39.9
41.5
42.5
41.3

41.2
43.6
41.5
40.9
39.8
43.9
39.8
41.2
42.3
40.7

41.2
43.5
41.5
40.4
38.9
43.8
40.1
40.3
42.6
40.8

39.6
43. 0
40.4
39.9
37.9
43.7
40.4
40.7
41.8
39.9

39.9
43.0
40.8
40.9
39.5
43.6
40.2
40.7
41.9
40.1

39.7
41.2
41.2
44.3
38.7
41.6
40.5
36.8
39.9
40.9
36.7

39.3
41.6
41.6
45. 1
38.1
41.9
41.2
36.6
38.8
39.9
35.3

39.4
41.9
41.8
45.4
38.6
42.1
41.9
37.9
38.6
39.5
35.6

39.3
42.2
41.8
45. 4
40.8
42.2
42.0
37.6
37.7
38.3
35,4

36.5
37.5

35.3
36.3

35.3
36.0

37.0
35.1
43.7
44.8

35.5
34.3
43.4
44.6

38.9
36.8
40 0
41.8
41.3
41.2
40.9
40.0
37.0
36.5
35.4

38.7
36.7
39 7
41.7
41.3
40.9
40.5
41.3
39.4
35.4
33.9

r

227, 488 ' 239, 087 * 254. 170
' 59, 491 r 68, 500 > 90, 558
115, 126
116,987 pill, 737

PAYROLLS
Manufacturing production-worker payroll index,
unadjusted (U. S. Dept. of Labor) t 1947-49=100..

130. 4

130. 9

131.2

r
40. 8
'41.8
r
44.4

MO. 7
Ml. 7
44.6

MO. 6
41.6
M4. 4

40.8
40.4
42.0
41.2
40.0
42.2

MO. 1
39.5
41.5
' 40.6
'38.8
r
41.5

MO. 5
40.1
Ml. 7
41.0
'39.6
Ml. 5

'40.4
40.0
Ml. 3
Ml.O
39.8
Ml. 4

41.0

41.9

r

40.8

Ml. 4

41.6

41.6

41.1

41.4

Ml. 5

Ml. 5

41.6

41.7

41.4

42.3

Ml. 8

Ml. 8

41.8

40.8
43.2
41.5
41.1
39.8
43.9
40.0
40.7
42.2
40.4

41.1
43.4
41.5
40.9
39.7
43.3
40.2
40.9
42.3
40.6

40.4
43.2
41.8
40.7
39.1
43.9
39.1
40.6
42.5
40.6

41.3
44.1
42.0
41.7
40.4
44.1
40.5
40. 8
42.6
41.4

MO. 5
43.9
r
41.9
r
41.5
MO. 5
43.2
MO. 7
Ml.O
M2. 1
'4LO

40.5
43.5
' 41. 6
41.2
MO. 3
42.8
40.3
r
41.3
Ml. 9
40.9

40.5
' 43.5
Ml. 3
41.2
40.2
42.6
41.3
41.1
Ml. 6
MO. 7

39.1
42.0
41.3
44.9
41.7
41.9
41.9
38.5
36.7
37.1
35.3

39.4
42.8
41.9
45.0
43.5
42.1
41.8
39.5
36.9
37.1
35.5

38.9
42.0
41.5
44.3
42.5
41.7
40.8
39.7
37.2
37.0
36.3

39.2
42.0
44.1
43.8
37.0
41.5
40.6
39.3
37.8
37.6
37.3

39.9
42.3
44.2
44.1
38.3
41.5
40.8
39.5
39.3
39.3
37.8

'39.5
Ml. 6
M2. 5
M4.
0
r
38. 0
Ml. 2
MO. 5
' 38. 4
38.9
39.0
r
37.0

'39.4
41.4
41.5
43.7
38.5
41.5
40.7
36.8
r
38. 8
38.4
37.9

'39.3
Ml.O
40. 5
43.8
38.3
41.4
40.3
' 36. 6
'38.1 1
37.1
37.8

35.4
36.2

35.8
35.0

35.6
35.1

34.6
32.5

35.5
32.2

36.2
33.7

r

36.0
'33.4

'36.6
r
34.6

36.7
35.2

35.0
33.8
43.1
44.3

34.4
34.9
42.8
44.5

35.3
35.4
42.6
44.1

35.5
34.4
42.8
44.2

35.0
32.8
42.5
44.0

35.6
34.6
42.4
43.8

35.8
35.8
42.8
44.2

' 35. 7
35.9
42.5
M3.6

P
36.3
36.4
M2.4
r
43.7

36.7
36.2
42.6
43.8

38.8
36.7
39.8
41.7
41.3
40.7
40.4
41.9
41.7
36.7
35.6

38.6
36.3
39.8
41.6
41.3
41.8
41.6
41.0
41.4
37.1
36.3

38.7
36.3
39.9
41.5
41.0
40.6
40.2
40.7
41.2
36.4
35.4

39.2
36.9
40.5
41.7
40.8
41.4
41.1
40.9
40.9
35.9
34.6

38.6
36.7
39.5
41.8
40.3
40.9
40.4
40.3
39.9
35.4
33.9

38.7
36.7
39.9
41.8
40.4
40.7
40.6
40.5
40.5
35.6
33.9

39.4
37.5
40.7
41.8
40.7
41.2
41.3
41.2
41.0
37.8
36.9

'38.5
36.2
39 7
41.3
40.2
MO. 6

'38.9
36. 3
40 3
Ml. 3
40.3
MO. 6
40.4
'40.8
40.9
'38.7
38.6

LABOR CONDITIONS
Average weekly hours per worker (U. S. Dept. of
Labor):
All manufacturing industries
- hours. _
Durable-goods industries
do
Ordnance and accessories
__
_ do.
Lumber and wood products (except furniture)
hours.
Sawmills and planing mills
do
Furniture and
fixtures
_.do_ .
Stone, clay, and glass products
do
Glass and glass products
do
Primary metal industries
do
Blast furnaces, steel works, and rolling
mi list
hours
Primary smelting and refining of nonferrous
metals
hours
Fabricated metal prod, (except ordnance, machinery, transportation equipment)hoursHeating apparatus (except electrical) and
plumbers' supplies
.
hours _
Machinery (except electrical)
do
Electrical machinery
_
_ do
Transportation equipment
_ _ do _ _
Automobiles
do
Aircraft and parts
do
Ship and boat building and repairs
do
Railroad equipment
do
Instruments and related products
-do
Miscellaneous mfg. industries
,_, do
Nondurable-goods industries Food and kindred products. _ ...
Mpat products
Dairy products
Canning and preserving
Bakery products
Beverages
Tobacco manufactures
__ _
Textile-mill products
Broad-woven fabric rrp'lls
Knitting mills

do
do
do
do
do
do
do
do
do
do
do

Apparel and other finished textile products
hours ..
Men's and boys' suits and coats
do
Men's and boys' furnishings and work
clothing
hours
'Women '^ outerwear
do
Paper and allied products _ _
_ _ do Printing, publishing, and allied industries
hours -.
Newspapers
do

Chemicals and allied products
. do
Industrial organic chemicals- . _ _ ..do
Products of petroleum and coal
do
Petroleum re
finine
do
Rubber products
do
Tires and inner tubes
do
Leather and leather products . . . do
Footwear (except rubber)
do
* Revised.
? Preliminary.
tSee note marked "t" on p. S-ll.
fRevised series. Indexes have been shifted to new base period; monthly data beginning 1939 will be shown later.
ITotal includes State engineering, supervisory, and administrative employees not shown separately.




T
r

38.6
' 35. 8
40. 3
Ml. 6
r

MOM

40.9
Ml.O
' 40.9
MO. 9
'38.4
'38.2

r

MOM

'40.7
MO. 7
'38.7
38.5

f 40. 0
r- 41 1

* 43. £

f 40.3
f 41 . C
v 40. 8
v 40 2

Ml. 1
r 42. 7
r- 40. ?

ML I

f 41.4
f 39. 7
" 38. £
r' 40. 7

v 34. 9
» 37. 4

P35.0

Ml. 6

p38. 4
Ml. 2
MO. 6
P 39. 6

r37. 1

SUEVEY OF CURRENT BUSINESS
Unless otherwise stated, statistics through
1950 and descriptive notes are shown in the
1951 Statistical Supplement to the Survey

S-13
1952
'
1
1 March

1951

April

May

June

July

August

September

October

Novem- 1 December
!
ber
i

January

April

EMPLOYMENT AND POPULATION—Continued
LABOR CONDITIONS— Continued
Average weekly hours per worker, etc. — Continued
jSTonmanufacturing industries:
Mining:
Metal
hours
Anthracite
do
Bituminous coal
do
Crude-petroleum and natural-gas production:
Petroleum and natural-gas production
hours __
Nonmetallic mining and quarrying
do
Contract construction
do
Nonbuilding construction
do
Building construction
do
Transportation and public utilities:
Local railways and bus lines
do
Telephone
do
Telegraphf
do
Gas and electric utilities
do
Trade:
Wholesale trade
do
Retail trade (except eating and drinking
places) *
hours
General-merchandise stores
do
Food and liquor stores
do
Automotive and accessories dealers do
Service:
Hotels, year-round
do
Laundries
_
_,
__do
Cleaning and dyeing plants
__do
Industrial disputes (strikes and lock-outs):
Beginning in month:
Work stoppages
number
Workers involved
thousands
In effect during month:
Work stoppages
number
Workers involved
thousands. _
Man-days idle during month
do
Percent of available working tim e .
_

44.0
21.6
33.9

44 2
30.1
33 3

41 8
31.0
34.8

42 0
35.3
32.7

44 5
26.3
34 9

44 1
27.2
36.5

44 4
35.1
36.3

43.4
36.8
36.2

44. 4
31.1
38.4

r
44 3
' 32. 6
38.5

' 44 3
30.9
35 9

44 3

41.2
45.0
37.4
40.3
36.8

40.4
45.7
38.3
41.8
37.5

40.4
45.7
38.4
41.3
37.7

42.1
45.8
39.0
42.9
38.1

40.2
46.3
39.1
42.7
38,2

41.8
46.1
38.9
41.9
38.2

40.5
47.0
39.3
42.6
38.5

40.4
44.5
36. 8
38.7
36. 4

41.8
44.0
37.9
38.9
37. 7

r 41. 7

' 40. 6

41. 6 _.._
44. 3
37. 1
38. 1
36. 9

45.9
38.7
44.6
41.5

46.5
39.0
45.4
41.5

46.8
39.4
45. 1
41.7

46.5
39.8
44.8
42.0

46.2
39.2
44.6
41.9

46.1
39.4
44.4
42, 2

46.2
39.1
44.3
42.1

46.3
39.2
44.2
42,0

47.6
38.8
44. 3
42.1

'46.4
38.7
1
43. 9
' 41. 9

' 41. 6

40.6

40.6

40,7

40.7

40.7

40.9

40.8

40.8

41.1

>• 40. 7

r 40. 4

40.4

39.9
35.9
39.6
45.5

39.8
35.5
39. 7
45.2

40.4
36.5
40.5
45.6

40.8
37.1
41. 1
45.3

40.8
36.9
41.0
45.3

40.0
35.9
40.0
45.2

39.8
35.6
39.6
45.4

39.4
35.1
39. 7
45. 3

40.1
37.0
40.0
45. 4

39.8
<• 35, 8
' 39. 4
-44.9

r

39, 8
* 35, S
' 39. 3
M5.0

39.7
35.8
39.5
44.9

43.3
41. 1
42.4

43.4
41.4
43.1

43.4
41.5
42.6

43.4
41.3
41.8

43.3
40.9
40.3

42.9
41.3
41.6

42.9
41.1
41.5

43.1
41.0
40.7

43. 2
41.4
41.1

'42.8
Ml. 5
MO. 7

42. 9
41,0
40. 0

42. 7
41.0
40.3

r
367
r

'440
166

r

M50
284

' 505
* 213

' 457
'215

'487
'248

'305
'84

r

T

186
"•82

400
190

350
185

400
240

600
320
1,880
',22

625
350
' 2, 640
'.28

640
360
2, 790
'.30

550
190
'1.610
'.19

500
100
1, 020
'.13

600
250
1. 250
. 14

550
250
1. 270
.15

GOO
320
1. (00
. 17

163

r

550
235
1,890
'.23

580
250
1,820
'.21

396
' 194
T

560
260
1,800
'.21

r

600
340
' 2.540
'.33

r

r

r

43. 7

r 45. 0

- 37. 9
39.6
' 37. 5

' 38. 4
r 40. 2

' 38. 0
r 46. 0

38. 5
43.9

35 4

-

46.0
38. 5
43. 9
41.6

f 475
f 1,000
' 650
'- i. 200
» 5. 300
* .61

IT. S, Employment Service placement activities:
N'onagricultural placements
__
thousands
Unemployment compensation:
Initial claims
do
Continued claims
_
do.-.-.
Benefit payments:
Beneficiaries, weekly average
_ do __
Amount of payments
thous. of dol_..

552

610

585

586

628

621

610

498

426

473

427

465

566

983
3,534

908
3, 977

1, 118
3,704

1,086
4,042

950
4, 071

724
3,329

902
3,692

948
3,817

' 1, 152
4,114

1. 382
6, 157

890
5,169

867
4, 834

1,109
4,825

740
62, 294

773
70, 799

821
68, 780

748
65, 922

801
75, 131

758
62, 049

713
67, 449

749
68,607

797
70, 624

1.185
116, 469

1. 146
105. 023

1.113
101.564

993
94. 385

Veterans' unemployment allowances:
Initial claims
thousands
Continued claims
do
Amount of payments
thous. of dol_.

1
9
197

1
6
146

1
5
97

1
5
105

1
5
93

1
3
66

1
3
53

1
3
50

1
3
57

}
4
S3

(2)

(2')

Labor turn-over in manufacturing establishments:
Accession rate. ..monthly rate per 100 employees..
Separation rate, total
do
Discharges
do
Lav-offs
do
Quits
do
Military and miscellaneous
do

4.5
4.6
.4
1.0
2.7
.5

4.5
4.8
.4
1.2
2.8
.4

4.9
4.3
.4
1.0
2.5
.4

4.2
4.4
,3
1.3
2.4
.4

4.5
5.3
,4
1.4
3.1
.4

4.3
5.1
.3
1.3
3.1
.4

4.4
4.7
.4
1.4
2.5
.4

3.9
4.3
.3
1.7
1.9
.4

3.0
3.5
.3
1.5
1.4
.3

4. 4
4.0

64.70
69.68
70. 97

64.55
69.60
72.45

65.08
70. 27
71.02

64. 24
68. 79
73. 10

64.32
69.55
73.71

65. 49
71. 01
76.47

65.41
71.10
75.50

65.85
71.05
75.08

67. 40
72.71
77.62

^ m. 91

58.95
58.49
56.96
65.09
66.91
75.70

59. 72
59.22
56. 28
65. 11
65.81
75.02

61.51
60. 92
56. 03
65. 25
65.97
76.03

57. 43
57. 46
55, 74
65.04
67. 14
74. 76

60. 49
60. 29
57. 53
64. 74
63.19
73.70

61. 51
61. 06
58.40
65.74
65.40
75.79

62. 32
61. 49
58.79
65. 93
65. 67
74.82

GO. 80
60. 56
58.81
65. 03
65. 50
75.23

60. 18
£9. 47
60. 48
65. 30
66. 28
77, 73

77.92

76.90

78.70

77.64

75.25

78. 72

75.79

77.49

70.18

70.18

70.73

69.90

70.46

68.64

70.47

69.51

69.18

69.43

67.98

68.68

70.14

70.39

3
65

3. 9
3. 9
.3
1.3
1.9
.4

1.4

1.9
A

(2S

54

2
M

'3.9
'3.7

» 3. 8

' 1. 1
2.0
.3

»4.2
P.3
p 1. 3
» 2. 3
v .3

WAGES
Average weekly earnings (U. S. Department of
Labor) :
All manufacturing industries
dollars _
Durable-goods industries
__
- do
Ordnance and accessories
do
Lumber and wood products (except furniture)
dollars. .
Sawmills and planing mills
_ do...
Furniture and fixtures
do
Stone, clay, and glass products
do
Glass and glass products
do
Primary metal industries
_ do
Blast furnaces, steel works, and rolling millsj
dollars
Primary smelting and refining of nonferrous
metals
dollars
Fabricated metal prod, (except ordnance, machinery, transportation equipment)
dollars ._
Heating apparatus (except electrical) and
plumbers' supplies
dollars
Machinery (except electrical)
do
Electrical machinery
do

70.22
76.78
65.58

69. 67
76.30
66.57

69.50
76.65
67.15

67. 40
75.42
66.13

67.23
75.94
66.34

69.89
77.24
68.06

70.65
77.86
68.27

< 72. 15
T
77. 26

r
66 91
'-72. 18
' 78. 50

" 57. 02
50. 56
" 59. 84
7
04. 35
' 64. 14
<• 76. 86

'r 58. 77
58. 39
* 60. 51
-•65.31
r
65. 54
r
76. 40

'67. 19
' 72. 55
' 78. 99
r ,-9 27
58! 88
' 60. 07
' 05. 72
60. 70
f
76. 51

79 44

T

77 93

' 78 12

78 67

69. 95

71.58

r

73. 54

r

72. 83

73. 63

69. 92

71. 78

' 71. 06

r

71.39

' 71. 69

v 70. 73

71 49
79.95
69.97

r

'r 70 11
79. 52
' 69. 97

70 47
' 80. OS
T
70. 00

P 78, 40
o 69. 32

69 53
77. 63
69.10

r

r

70 07
79. 81
70. 22

f 06. 24
P 71.84
» 77. 00
v 00. 17
P 59. 98
P 65. 57

P 74. 01

T
75.14
76.36
77.43
77.14
74.81
74.33
74.97
Transportation equipment
do
' 78. 77 ' 79. 68 v 80. 02
77.05
79. 48
79. 47
r
r
76. 31
77.34
74.52
73.30
77.53
74.90
74.88
80 24
79 59
76 44
79 91
80 55
Automobiles
do
r 79 14
79 85
79.28
77.13
77. 48
77.48
77. 31
78 07
77 22
•'r 79 53
79 83
Aircraft and parts
do
80 57
r
70.42
68.31
71.96
71. 52
71.59
73.57
68.46
Ship and boat building and repairs do
72 37
74
76
77 60
74 12
74
85
r
r
77.36
77.05
76.96
75. 82
77.06
76. 55
75.64
Railroad equipment
do
78. 30
76. 79
78. 06
76.49
77 81
r
68.51
69. 44
68.55
Instruments and related products
do
69.93
'71.02
* 70. 38
68.78
68.18
71. 09
70.26
-71.02
70.98
71. 70
56.82
58.03
57.61
57. 85
Miscellaneous mfg. industries
do
57. 39
56.46
*>58,88
58.18
r 59, 94
' 60. 41 ' 60. 32
58.71
60. 53
r
2
Revised.
* Preliminary.
i See note "|" for this page; comparable figure for December 1951, 43.8.
Less than 500 claims.
t Re vised series. Beginning 1952, data cover all domestic (land-line) employees except messengers and those compensated entirely on a commission basis; earlier data exclude general and
divisional headquarters personnel and trainees in school.
*Xew series. Data beginning 1947 will be shown later.
|See note marked "{" on p. S-1L




SURVEY OF CURRENT BUSINESS

S-14
Unless otherwise stated, statistics through
1950 and descriptive notes are shown in the
1951 Statistical Supplement to the Survey

June 1952

1951
April

May

June

July

August

1952
September

October

November

December

January

February

March

April

EMPLOYMENT AND POPULATION—Continued
WAGES—Continued

Average weekly earnings, etc.— Continued
All manufacturing industries— Continued
Nondurable-goods industries
dollars-Food and kindred products
do
Meat products
do
Dairy products
_ do
Canning and preserving
do
Bakery products
do
Beverages
_ __
do
Tobacco manufactures
do
Textile-mill products
do _
Broad-woven fabric mills
_ _
do __
Knitting mills
do
Apparel and other finished textile products
dollarsMen's and boys' suits and coats
do
Men's and boys' furnishings and work
clothing
_ _
dollars
Women's outerwear
- do
Paper and allied products
do
Pulp, paper, and paperboard mills___do
Printing, publishing, and allied industries
dollars.Newspapers
do _
Commercial printing
_
do
Chemicals and allied products
_ do
Industrial organic chemicals
do
Products of petroleum and coal
do
Petroleum refining
do
Rubber products
_
do
Tires and inner tubes
do
Leo.ther and leather products
do _
Footwear (except rubber)
do
Nonmanufacturing industries:
Mining:
Metal
do
Anthracite
do
Bituminous coal
do
Crude-petroleum and natural-gas production:
Petroleum and natural-gas production
dollars- _
Nonmetallic mining and quarrying
do
Contract construction
do
Nonbuilding construction
do
Building construction
do
Transportation and public utilities:
Local railways and bus lines
do
Telephone
_
_ do
Telegraph f
do
Gas and electric utilities
do
Trade:
Wholesale trade
do
Retail trade (except eating and drinking
places)*
dollars
General-merchandise stores
do
Food and liquor stores
do
Automotive and accessories dealers do
Finance:
Banks and trust companies
do
Service:
Hotels year-round
do
Laundries
do
Cleaning and dyeing plants
do
Average hourly earnings (U. S. Department of
Labor) :
All manufacturing industries
_
dollars
Durable-goods industries _
do._ _
Ordnance and accessories
do
Lumber and wood products (except furniture)
_
dollars
Sawmills and planing mills
do
Furniture and
fixtures
do
Stone, clav, and glass products
do _ _
Glass and glass products
do
Primary metal industries
do
Blast furnaces, steel works, and rolling millsj
dollars__
Primary smelting and refining of nonferrous
metals
dollars
Fabricated metal prod, (except ordnance, machinery, transportation equipment)
dollars..
Heating apparatus (except electrical) and
plumbers' supplies
dollars
Machinery (except electrical)
do
Electrical machinery
do
Transportation equipment
Automobiles
Aircraft and parts
Ship and boat building and repairs
Railroad equipment
Instruments and related products
Miscellaneous mfg industries

do
do
do
do
do
do _
do

58.16
59.66
62. 91
59.67
50.39
56.37
71.97
42.58
52.87
53. 95
46.76

57.93
60. 40
63.90
60.52
48.88
57.24
73.75
42.49
51.37
52. 67
45.04

58.47
61.80
67.88
61.11
49.25
517 93
75'. 21
44.49
51.07
52. 10
45.18

58.48
61. 65
68.26
62.02
49.20
58.15
75.64
44.03
49.58
50.25
44.57

57.91
61.15
67.48
60.70
53.00
58.07
75.13
44.08
48.08
48.30
44.44

58. 67
62.06
68.46
62.10
54.33
58. 69
75.11
44.75
48.74
48.75
44.84

58. 00
61.91
67.65
60. 60
56.87
58.38
72.54
45.30
49.29
48.77
46.06

59.07
63.34
73. 51
60.09
47.80
59.26
74.54
46.26
50.46
50.01
47.56

60.45
64.13
73. 06
61.48
51.02
59.43
73.48
46. 53
52. 70
52.62
48.08

'60.04
r 63. 40
' 69. 66
^ 62. 79
r 50. 35
r 59. 04
r 72. 94
r 45. 27
' 52. 40
' 52. 10
r 47. 66

' 59. 97
' 63. 38
' 68. 85
r 62. 53
r 50. 94

44.97
54.90

43.56
53.29

44.05
52.85

45.10
52.82

46.11
51.56

45.89
51.98

43.70
47.81

45.12
47.59

46. 26
49.98

r 46. 40
r 50. 00

' 47. 32

38.96
48. 37
66. 38
71.37

37.28
47.30
65. 92
70.96

36.82
47. 52
65. 56
70.84

36. 15
52.35
65.44
71.73

36.99
53.45
64.84
70.38

37. 67
51. 50
65. 57
71.29

37.14
47. 33
65.32
71.15

38.13
50.41
65.64
71.31

38 09
52. 30
66.68
72.22

' 38. 06
r
53. 38
r
66. 39
r
71. 29

r 38. 84
' 54. 45
' 66. 44
' 71. 62

75.78
82.98
74.76
67.84
71.82
81.33
84.87
65. 96
70. 15
46.65
43.65

75.66
83.49
74.60
68.14
72.07
81.31
84.77
68. 56
75.92
45. 38
41.70

75.82
83. 16
74.86
68.72
72.48
81.20
84.76
71.27
82.44
46.90
43.79

75.50
82.36
74.86
69.01
73. 06
84. 06
87.94
70.81
83. 67
47.12
44.39

75.54
82.29
74.77
68.18
71 . 07
80. 55
83.70
69.52
82.07
46.19
43.29

77.69
85. 13
76 99
68. 43
72. 54
83. 21
80. 00
70.18
81 . 64
45 92
42.73

76.27
84.59
75. 13
68.18
71.17
81.72
84.68
68.67
78.76
45. 31
41.83

77.09
85.51
76.57
68.72
71.63
81.28
84.89
69.46
80.27
45. 85
41.93

79.43
88. 05
78. 75
69. 10
72.45
82.94
87.14
73. 91
86.26
48. 61
45.57

' 77. 28

' 77. 73
r
84. 53
' 77. 18
' 68. 56

74.62
47.20
75.63

74.96
66.67
73.86

70.89
68.94
77.67

72.32
79.50
73.71

75. 74
58.52
77.23

76.43
60.36
81. 61

76.10
78.24
80.62

74.43
81.84
81.09

79. 43
69.98
86.28

r 79. 12

80.30
65.88
79. 36
78.26
79.75

78.30
67.22
81.62
81.26
81.83

78.74
67.82
82.41
81.48
82.71

83.32
68. 84
83.73
84.81
83.63

78.15
69.59
84.46
85.27
84.31

83.68
70. 03
85.19
84.72
85.42

78. 93
71.72
86.26
86.61
86.20

79.02
68. 35
81.66
79.30
82.26

83. 85
67. 32
83. 83
79.08
84.94

70.92
56. 12
64.40
70.38

72.17
56. 59
65.97
70.72

72.77
58. 12
65. 44
71.06

73.19
59. 30
71.23
71.82

72.72
58.84
70.47
71.73

73.11
59 97
72.33
72.88

73.23
59.94
72. 34
72.92

73.11
60.84
72.13
73.29

63.95

63.78

64.35

64.55

64.51

65.64

65.44

49.84
36.98
53.18
66.34

49. 83
36.71
53. 44
66.22

50.74
37.70
54.72
67.03

51.49
38.51
55.44
66. 91

51.37
38. 01
55.23
67.18

50.80
37.19
54.24
67.94

50. 43
36. 56
53. 90
67.24

50.08

50.11

50.06

50.50

50.28

50.36

34.90
37.32
44.90

35.02
37.96
45.90

35. 24
38.06
45.45

35. 46
37.83
44.26

35.29
37.38
42.56

35. 78
37.87
44.72

1.578
1.659
1.662

1. 586
1.665
1.677

1.599
1.681
1.675

1.598
1.682
1.696

1.596
.684
.679

1.424
1.423
1.386
1.546
1.620
1.798

1.439
1.434
1.393
1.554
1.629
1.799

1.468
1.468
1.387
1.561
1.633
1.819

1.443
1.451
1.404
1.571
1.662
1.819

1.873

1.871

1.901

1.675

1.679

1.688

1.655

1.655

1.661

1.692
1.749
1.588

1.691
1.750
1.604

1.687
1.762
1.618

1.829
1.877
1.753
1.712
1.864
1.613
1.405

1.833
1.882
1.759
1.720
1.858
1.626
1.410

1.860
1.925
1.765
1.756
1.877
1.630
1.418

1.863
1.934
1.773
1.772
1.863
1.631
1.415

78. 18
' 69. 06
' 72. 11
r 82. 66
r 86.67
' 74. 19
' 86. 99
' 49. 54
r
47. 52

73.75
' 43. 64
' 52. 30
51. 34
48.51
r 51. 55

r 71. 84
r

81. 69
'85.00
' 73. 71
' 86. 12
'50.31
r
48. 59

' 47. 09
52. 38

1

39. 34
52.78
67. 31
72.66

v 43. 37

p 65. 60

r

79 28
f 78. 07
85. 12
79. 15
' 09. 09 "V69~26~
72. 50
'81.81
p 81. 65
85. 10
' 73. 81 P71.04
86.09
' 50. 50 P48.60
49. 10

r 78. 99
68.97

79.61

r 80. 09

79.15

' 84. 53
r 66. 69
r 84. 74
r 81. 26
' 85. 35

' 82. 26
' 68. 45
' 86. 36
r
82. 77
' 87. 06

85. 16
67. 90
83. 70
78. 33
84.87

75. 35
59.44
72.21
73.63

r 73. 92
' 59. 68
i 70. 77
r 73. 20

r
73. 47
' 59. 91
70.81
' 72. 92

73.60
59. 41
70.81
73.51

65.52

66.58

' 66. 42

' 66. 50

67.02

49.92
36. 12
54. 35
67.13

49.92
37. 52
54.44
67.06

r

51. 22
r 38. 27
* 54. 53
r 66. 68

' 51. 06
r 37. 38
r
54. 31
' 67. 28

50.94
37. 3C
54.87
67.48

50.78

51.13

51.81

' 52. 05

' 52. 34

52.64

35. 91
37.73
44.36

36.20
37.93
43.71

36. 81
38. 34
44.14

36.47
' 38. 55
' 44. 08

' 36. 64
38. 01
' 43. 36

36. 51
38.17
44.53

1.613
1.707
1.730

1.615
1.705
1.716

1.626
1.712
1.724

1. 636
1. 723
1.721

r 1.640
r 1. 726

' 1. 644
' 1. 731
' 1.760

' 1. 655
' 1. 744

r' 1.748

••1.740

r 1. 779

* 1. 770

.479
.485
.410
1.560
1.612
1.802

1.515
1.519
1.421
1.584
1.664
1.835

1.509
1.507
1.420
1. 581
1. 650
1.816

1.499
1.499
1.431
1.590
1.671
1.826

1.475
1.472
1.440
1.585
1.657
1.842

' I. 422

' 1. 467
1.472
' 1. 469
' 1. 60?,
1.676
' 1. 848

r 1. 463
p l . 607

1. 852

' 1. 451
' 1. 456
1.451
' 1. 593
1. 655
' 1.841

1.903

1.872

1.920

1.876

1.890

1.896

r 1. 910

' 1. 887

1.891

1.709

1.702

1.699

1.694

1.702

1.729

' 1. 772

p

1.770

1.658

1.663

1.682

1.688

1.689

1.697

' 1. 700

' 1. 708

'1.715

p 1. 721

1.702
1.754
1.637

1.685
1.766
1.626

1.713
1.788
1.640

1.719
1.794
1.645

1.721
1.797
1.653

1.731
1.813
1.666

* I. 730
1.818
' 1. 676

' 1. 731
'1.828
' 1. 682

1.740
' 1. 841
1.695

v 1. 836
p 1. 699

1.867
1.932
1.777
1.790
1.893
1.635
1.417

1.884
1.948
1.806
1.788
1.891
1.657
1.426

1.885
1.948
1.803
1.830
1.884
1.661
1.433

1.893
1.955
1.819
1.851
1.884
1.670
1.446

1.906
1.978
1.827
1. 830
1.907
1.683
1.462

r 1.915
r 1. 989

'1.912
' 1. 975
'1.849
' 1. 855
1.890
' 1. 695
' 1. 477

' 1. 934
1.996
1.874
1.879
1.905
' 1. 709
' 1. 482

v 1.947

1.522
1. 531
1. 659
1.431
1. 323
1. 447
1.812

' 1. 529
' 1. 544
1.681
1. 443
1.342
1. 450
1.823

p 1. 525
p 1.546

1.481
1.515
1.507
1.474
1.484
1.488
1.491
1.489
1.465
Nondurable-goods industries
do
1.461
1.508
1.456
1.516
1.452
1.475
1.474
1.450
1.448
Food and kindred products
_
do
1.634
1. 633
1. 667
1.653
1.624
1.630
1.536
1.634
1.527
M^eat products
do
1.394
1.352
1.372
1.342
1. 366
1.368
1.346
1.380
1.347
Dairy products
do
1.292
1.332
1.206
1.271
1.283
1.249
1.338
1.276
1.302
Canning and preserving
do
1.428
1.432
1.386
1.378
1.400
1.366
1.394
1.376
1.355
Bakery products
do
1.836
1.778
1.801
1.790
1.793
1.801
1.797
1.795
1.777
Beverages
do
' Revised.
f Preliminary.
» See note " t" on p. S-13; comparable figure for December 1951, $70.47.
fRevised series. See note " t" on p. S-13.
"New series. Data beginning 1947 will be shown later. JSee note marked "t" on p. 8-11.




r S3. 13
r

r 60. 05

'60.09
f 58. 71
' 63. 30 p 62. 92
68. 08
63.20
51.40
60.03
73. 47
' 43. 88 ~ ~ V 4 i ~ 5 7 ~
'51.32
f 50.00
49.34
48.12

' 73. 58
r 86. 39

' 1. 432
r 1. 442
r 1. 585
r 1. 653
r

' 1. 841
r 1.839

1.873
r 1. 687

1.462
1.520
' 1. 524
' 1.639
r 1. 427

' 1. 325
' 1. 433

1.801

'
'
'
'
'

1. 755

* 1.656

r> 1. 493

p 1.841

p 1.700
p 1. 483

SURVEY OF CURRENT BUSINESS

June 1952
Unless otherwise stated, statistics through
1950 and descriptive notes are shown in the
1951 Statistical Supplement to the Survey

S-lfi

1951
April

May

June

July

1952

August

September

October

November

December

January

February

March

April

EMPLOYMENT AND POPULATION—Continued
WAGES —Continued
Average hourly earnings, etc.— Continued
All manufacturing industries— Continued
Nondurable-goods industries— Continued
T obacco m anuf actures
.
dollars. _
Textile-mill products
do
Broad -woven fabric mills
do
Knitting mills
do
Apparel and other finished textile products
dollars..
Men's and boys' suits and coats. __do
Men's and boys' furnishings and work
clothing
_
.dollars
WOTTIP.TI'S nut.pTwfiar
do
Paper and allied products
_ __ _ do
Pulp, paper, and paperboard mills do
Printing, publishing, and allied industries
dollars. _
Newspapers
__
__do_
Commercial printing
do
Chemicals and allied products
do
Industrial organic chemicals
do
Products of petroleum and coal
do
Petroleum refining
do
Rubber products
_
do .
Tires and inner tubes
do
Leather and leather products
do
Footwear (except rubber) __
_ _ ...do
Nonmanufacturing industries:
Mining:
Metal
do
Anthracite
... __do
Bituminous coal
do
Crude-petroleum and natural-gas production:
Petroleum and natural-gas production
dollars..
Nonmetallic mining and quarrying _ do
Contract construction
do
Nonbuilding construction
_ _ __do__
Building construction
do
Transportation and public utilities:
Local railways and bus lines
do.
Telephone
do
Telegraph f
__do__
Gas and electric utilities
do
Trade:
Wholesale trade
do
Retail trade (except eating and drinking
places)*
dollars
General-merchandise stores
__do___
Food and liquor stores
do
Automotive and accessories dealers... do
Service:
Hotels, year-round
do
Laundries
do
Cleaning and dyeing plants
__do__
Miscellaneous wage data:
Construction wage rates (E. N. R.):§
Common labor
dol. per hr
Skilled labor
do
Farm wage rates, without board or room (quarterly)
dol. per hr
Railway wages (average, class I)
do
Road-building wages common labor
do

1.157
1.325
1.319
1.274

1.161
1.324
1.320
1.276

1.174
1.323
1.319
1.269

1.171
1.315
1.312
1.259

1.145
1.310
1.302
1.259

1.133
1.321
1.314
1.263

1.141
1.325
1.318
1.269

1.177
1.335
1.330
1.275

1.178
1.341
1.339
1.272

r
r
T

1.232
1.464

1.234
1.468

1.248
1.468

1.274
1.459

1.288
1.473

1.289
1.481

1.263
1.471

1.271
1.478

1.278
1.483

1.053
1.378
1.519
1.593

1.050
1.379
1.519
1.591

1.052
1.406
1.521
1.599

1.051
1.500
1.529
1.612

1.048
1.510
1.522
1.596

1.061
1.497
1.532
1.613

1.061
1.443
1.537
1.617

1.071
1.457
1.548
1.628

1.948
2.255
1.869
1.623
1.739

1.955
2.275
1.879
1.634
1.745

1.954
2.266
1.881
1.648
1.755

1.956
2.269
1.881
1.659
1.769

1.952
2.267
1.874
1.643
1.748

1.982
2.307
1.901
1.641
1.778

1.976
2.305
1.902
1.631
1.766

1.974
2.075
1.649
1.896
1.278
1.233

1.988
2.093
1.660
1.927
1.282
1.230

1.995
2.098
1.701
1.977
1.278
1.230

2.011
2.114
1.727
2.021
1.270
1.223

1.984
2.082
1.708
1.992
1.269
1.223

2.010
2.107
1/716
1.996
1.279
1.235

1.696
2.185
2.231

1.696
2.215
2.218

1.696
2.224
2.232

1.722
2.252
2.254

1.702
2.225
2.213

1.949
1.464
2.122
1.942
2.167

1.938
1.471
2.131
1.944
2.182

1.949
1.484
2.146
1.973
2.194

1.979
1.503
2.147
1.997
2.195

1.545
1.450
1.444
1.696

1.552
1.451
1.453
1.704

1.555
1.475
1.451
1.704

1.575

1.571

1.249
1. 030
1.343
1.458

1.252
1.034
1.346
1.465

.806
.908
1.059

.807
.917
1.065

1.595
2.619
.78
1.716
1.23

r

1. 179
1. 347
1. 336
1.288

1. 186
1 348
1.337
1.280

1.199
r i 347
1 330
1 273

P 1 191
P 1 337

' 1. 289
•• 1. 497

••r 1.293
1. 490

' 1.283
1.488

v 1. 239

1.064
1.461
1.558
1.634

' 1. 066
' 1. 487
' 1. 562
r
1.635

r
r
r

1.072
1 458
1. 580
1 659

v 1 577

1.992
2.330
1.919
1.644
1.773

2.016
2.364
1. 935
1.653
1.780

' 2. 002
'
2. 322
r
1. 940
'
1. 660
r
1.785

f
r
r
r
r

1.998
2.096
1.704
1.974
1.280
1.234

1.997
2.091
1.715
1.982
1.288
1.237

2.013
2.110
1.794
2.104
1.286
1.235

* 2. 021
«•T 2. 114
1. 814
r
2. 127
»• 1.290
•-1.244

*r 2. 012
2 104
r
1. 811
r
2
116
r
1.
300
r
1. 262

1.733
2.219
2.236

1.714
2.229
2.221

1.715
2.224
2,240

1.789
2.250
2.247

r
r
r

r

1.944
1.503
2.160
1.977
2.207

2.002
1.532
2 190
2.022
2 236

1.949
1.526
2 195
2.033
2 239

1.956
1. 536
2 219
2.049
2.260

2.006
1.530
2 212
2.033
2.253

'2.027
r
1 526
r 2 236
r
2 052
r 2 276

«•r 2. 026

1. 574
1.490
1.590
1.710

1.574
1.501
1.580
1.712

1 586
1 522
1 629
1 727

1 585
1 533
1 635
1 732

1.579
1 552
1.632
1 745

1.583
] 532
1.630
1 749

r
r
i
r

r I 580
r -[ 55(J

1.581

1.586

1.585

1 605

1 604

1.606

1.620

i-l 632

1.256
1.033
1.351
1.470

1.262
1.038
1.349
1.477

1.259
1.030
1.347
1.483

1 270
1.036
1 356
1.503

1 267
1.027
1 361
1.481

1.267
1.029
1.369
1.482

1 245
1.014
1 361
1.477

r i 287
r
1 069
r i 334
1.485

r I 382

1.495

1 283
1 042
1 389
1.503

.812
.917
1.067

.817
.916
1.064

.815
.914
1.056

834
.917
1 075

837
.918
1 069

.840
.925
1.074

852
.926
1 074

r 352
r 929
r 1 083

r 854
927
r i 084

855
931
1 105

1.608
2.629

1.615
2.648

1.629
2.688

1.637
2.701

1 637
2 701

1 645
2 719

1 646
2 728

1 651
2 751

1 654
2 758

1 659
2 758

1.725

1.751

.82
1.768
1..24

1.746

1.794

73
1.748
1 33

1.779

1.801

86
1 807
1 29

1 830

398
410

437
435

490
434

492
480

493
517

458
534

422
544

408
678

396
718

2 194
1 050
1 021
30
377
766

357
820

1.070
1. 496
1. 567
1.639

r

2. 019
2. 335
1. 944
1.660
1. 787

••2.038
2. 345
1 964
r
1. 673
1.799

v 2. 033

r

r>1 Oil

r i 783
2 232
2.231

1 786
2. 257
2. 244

1 521

r 2 249
r
2 059
r 2 291

i 593
i 542
i 612
i 747

r
r

2. 015
2 108
1. 809
2 105
1. 305
1.272
1 797

2.047
1 534
2 2^6
2 056
2 300
1 600
1 543
1 613
1 767

»L646

1 659

r

p 1 794

p 1. 310

2. 236

1 613
r i 753*

1 283
1 044

v 1. 681

1 664
2 770

1 68Q
2 774
83
L38

FINANCE
BANKING
Acceptances and commercial paper outstanding:
Ban k"W' acnfipt.ancfis
mil. of do!
Commercial paper _
__do _
Agricultural loans outstanding of agencies supervised by the Farm Credit Administration:
Total
mil. of dol
Farm mortgage loans total
do
Federal land banks
do
Land Bank Commissioner
do
Loans to cooperatives
__do
phnrt.-tfirm crp.dH
„„-,- -^
do
Bank debits, total (141 centers)
New York City..
Outside New York City

do
__do___
do

456
387

417
364

425
331

323
700

310
739

2,097
1,012
974
37
315
771

114, 898
45, 477
69, 421

116, 572
45,375
71, 197

120, 699
48,588
72, 110

380
336

384
368

375
377

333
791

347
786

2 129
1 020
985
35
360
749

399
697

420
660

2 110
1 029
998
32
429
651

110, 756
43, 224
67,532

111,190
41,363
69, 827

107 504
41, 145
66 359

123 770
47, 971
75, 799

117 231
44, 802
72, 428

129 549
53,500
76,049

123 059
48 106
74 953

r H4 H3

45, 375
68 738

125 269
50 180
75 089

124 664
52, 057
72 607

48, 740
24, 427
186
23,552
21, 004
48, 740
20, 868
19, 557
497
24,261
46.5

49,046
24, 734
624
23, 239
21,166
49, 046
20, 945
19, 670
490
24, 680
46.4

49,900
25,009
19
23, 801
21, 468
49, 900
21,192
20, 056
389
25,064
46.4

48 941
23,783
328
22, 729
21 731
48, 941
21 004
20, 077
634
24, 405
47.9

49 323
23,904
598
22, 528
21 992
49, 323
21 336
19, 982
728
24, 423
48.1

48 590
23,270
133
22,514
22 115
48,590
20 746
19, 733
492
24,371
49.0

49 213
23,632
676
22,363
22 106
49, 213
21 175
19,940
r
797
24,332
48.6

Federal Reserve banks, condition, end of month:
46,883
47, 174
47, 634
47, 547
Assets, total _
mil. of dol
47, 755
49, 116
23, 481
23,560
24, 043
24, 309
24, 033
Reserve bank credit outstanding, total. __do
25, 058
283
529
53
277
552
Discounts and advances ..
do.
190
22, 509
22, 742
23,078
23,127
22, 982
United States Government securities—do
23, 734
20, 567
20, 508
20,504
20, 611
20, 514
20, 775
Gold certificate reserves
_ do
47, 174
47, 755
46, 883
47, 634
47, 547
Liabilities, total
do
49, 116
20, 748
20, 381
20,678
20,606
Deposits, total
do
21, 453
20, 598
18, 536
18, 901
19, 020
18, 863
Member-bank reserve balances.
do
19, 181
19, 391
452
330
416
467
717
Excess reserves (estimated)
do
569
«• 23, 144
23, 332
24,020
Federal Reserve notes in circulation
do
23, 630
23, 726
24, 148
46.9
46.9
46.1
46.3
Reserve ratio.
percent..
46.4
45.6
J
' Revised.
» Preliminary.
See note " t" on p. S-13; comparable figure for December 1951, $1.609.
|Revised series. See note " t" on p. S-13.
*New series. Data beginning 1947 will be shown later. §Rates as




r

of May 1,1952: Common labor, $1.690; skilled labor, $2.797.

SUKVEY OF CUKEENT BUSINESS

S-16
Unless otherwise stated, statistics through
1950 and descriptive notes are shown in the
1951 Statistical Supplement to the Survey

June 1952

1951

April

May

June

July

August

1952

September

October

November

December

January

February

March

April

FINANCE—Continued
BANKING —Continued

Federal Reserve weekly reporting member banks,
condition, Wednesday nearest end of month:
Deposits:
Demand, adjusted
mil. of dol__
Demand, except interbank:
Individuals, partnerships, and corporations
mil. of doLStates and political subdivisions
_ do
United States Government
do
Time except interbank, total
do
Individuals, partnerships, and corporations
mil. of doL.
States and political subdivisions
do
Interbank (demand and time)
do
Investments, total
_
- do
U. S. Government obligations, direct and
guaranteed total
mil. of dol
Bills
-do
Certificates
do
Bonds and guaranteed obligations
do
Notes
do
Other securities
do
1/oans total
do __
Commercial, industrial, and agricultural. .do
To brokers and dealers in securities
do
Other loans for purchasing or carrying securities
mil. of dol_ .
Real-estate loans
do
Loans of banks
__do
Other loans
do
Money and interest rates :d*
Bank rates on business loans:
Tn 19 cities
percent
New York Citv
do
7 otner nortnern ana easier c i es
a

60,163

50,034

49, 916

60, 383

60,976

60,533

62, 124

53,040

63,370

54, 328

52,683

51, 162

52, 303

50, 257
3, 950
3,520
15, 338

50, 591
3, 857
3,005
15, 362

50, 500
3,589
4,679
15, 539

50, 860
3,644
2,673
15, 551

51, 174
3,362
2,609
15, 635

51, 696
3,300
3,747
15, 676

53, 517
3,465
2,543
15, 829

53, 964
3,466
2,241
15, 792

55, 554
3,582
2,225
16, 026

54, 798
3,694
1,644
16, 070

53, 646
3, 599
2,545
16, 205

51, 729
3,710
3,666
16,318

52, 913
4,070
3,184
16, 383

14, 477
732
10, 669
37, 447

14, 485
746
10, 157
36, 941

14, 661
743
10, 422
37, 758

14, 673
740
11, 103
37, 613

14, 741
751
10, 807
37, 572

14, 795
734
11, 345
37, 926

14, 958
719
11, 948
38, 565

14,915
720
11, 737
38, 772

15, 152
712
13, 519
39, 056

15, 176
728
11, 834
39,260

15, 275
761
11, 481
38,833

15, 385
764
12, 042
38, 316

15, 444
767
10, 998
38, 563

30, 836
1,971

30, 443
1,769

20, 715
8,150
6,611
32, 661
19, 186
1,359

20, 527
8,147
6,498
32, 428
19, 048
1,332

31, 176
2,745
1,585
19, 478
7,368
6,582
32, 877
19, 220
1,399

30, 997
2,648
2,224
19, 442
6,683
6,616
32, 487
19, 124
1,390

30, 930
2,593
2,239
19, 486
6,612
6,642
32, 916
19, 502
1,170

31, 212
2,934
2,493
19, 142
6,643
6,714
33, 482
20,078
1,242

31, 926
3,748
3,010
19, 212
5,956
6,639
34, 083
20, 571
1,077

32, 082
3,949
2,994
19, 185
5, 954
6,690
34, 488
20, 865
1,148

32, 224
4,129
3,596
18, 531
5,968
6,832
35, 161
21,419
1,340

32, 419
4,319
3,698
18,456
5, 946
6,841
34, 757
21, 160
969

31, 892
3, 855
3,798
18, 286
5,953
6,941
34, 693
21, 157
1,077

31, 163
3.415
3,611
18,220
5,917
7,153
34, 795
21, 172
1,278

31, 456
3,624
3,684
18, 274
5,874
7,107
34, 770
20, 796
1,695

727
5,419
491
5,935

717
5,476
382
5,928

716
5,530
523
5,947

700
5,545
324
5,865

698
5,584
518
5,906

692
5,605
414
5,915

684
5,653
627
5,950

680
5,670
657
5,949

687
5, 658
564
6,028

667
5,669
822
6,011

660
5,652
691
5,999

677
5,657
540
6,021

660
5,674
438
6,056

1.75
2.17
4.08

1.75
2.23
4.08

3.07
2.78
3 04
3.52
1.75
2.23
4.08

1.75
2.37
4.13

1.75
2.47
4.13

3.06
2.79
3.06
3.47
1.75
2.64
4.13

1.75
2.66
4.17

1.75
2.69
4.17

3 27
3 01
3 23
3 67
1.75
2.71
4.17

1.75
2.73
4.17

1.75
2.73
4.17

3 45
3 23
3 47
3 79
1.76
2.73
4.17

1.75
2.73
4.17

1.63
2.13
2.00
2.13

1.63
2.17
2.15
2.28

1.63
2.31
2.25
2.38

1.63
2.31
2.25
2.38

1.63
2.26
2.25
2.38

1.63
2.19
2.25
2.38

1.63
2.21
2.25
2.38

1.63
2.25
2.25
2.38

1.69
2.31
2.38
2.47

1.75
2.38
2.45
2.56

1.75
2.38
2.38
2.56

1.75
2.38
2.38
2.56

1.75
2.35
2.38
2.56

1.520
2.03

1.578
2.04

1.499
2.00

1.593
1.94

1.644
1.89

1.646
1.93

1.608
2.00

1.608
2.01

1.731
2.09

1.688
2.08

1.574
2.07

1.658
2.02

1. 623
i 1.93

11, 662
2,831

11,710
2,808

11, 821
2,788

11, 840
2,772

11,867
2,754

11,915
2,738

11,941
2,724

12, 018
P 2, 710

12 175
v 2, 701

12, 208
P 2, 698

12 267
* 2, 685

P 2, 670

P 2, 656

Total consumer credit, end of month___mil. of dol._
Instalment credit total
do
Sale credit, total
__do
Automobile dealers
do
Department stores and mail-order houses
mil. of dol. _
Furniture stores
do
Household-appliance stores
do
All other retail stores (incl. jewelry) __do _

19, 126
12, 904
7,270
3,934

19, 207
12, 920
7,248
3,980

19, 256
12, 955
7,234
4,041

19, 132
12, 903
7,173
4,061

19, 262
13, 045
7,247
4,138

19,362
13, 167
7,327
4,175

19, 585
13,196
7,355
4,134

19, 989
13, 271
7,400
4,100

20, 644
13, 510
7, 546
4,039

20, 126
13, 314
7,322
3,962

'19,717
r
13, 185
7,158
3,927

* 19, 558
p 13, 155
p 7, 047
P 3, 891

P 19, 771
P 13, 302
P 7, 106
P 3, 957

1,103
905
636
692

1,084
890
616
678

1,055
874
602
662

1,022
854
590
646

1,015
859
590
645

1,028
870
600
654

1,056
890
607
668

1,099
908
608
685

1,186
971
613
737

1,129
933
592
706

1,082
909
567
673

p 1,060
P893
»548
*655

p 1, 063
P891
*542
*653

Cash loans total
do
Commercial banks
_ _ __do._ _
Credit unions
- do
Industrial banks
do
Industrial-loan companiesdo
Insured repair and modernization loans
mil. of dol __
Small-loan companies
do
Miscellaneous lenders
do

5,634
2,497
514
286
205

5,672
2,506
518
288
207

5,721
2,515
522
288
209

5,730
2,492
524
288
211

5,798
2,521
531
293
217

5,840
2,524
533
296
221

5,841
2,522
535
299
222

5,871
2,509
535
299
225

5,964
2,510
542
301
229

5,992
2,521
541
300
230

6,027
2,542
545
301
232

v 6, 108
p 2, 593
»303
P235

P 6, 196
*>2,640
P566
P307
*239

Discount rate (N Y F. R. Bank)
__do ..
Federal intermediate credit bank loans
do
Federal land bank loans
do
Open market rates, New York City:
Acceptances, prime, bankers', 90 days
do
Commercial paper, prime, 4—6 months
do
Call loans, renewal (N. Y. S. E.)
do _
Time loans 90 days (N. Y. S. E.)
_ do
Yield on TJ. S. Govt. securities:
3-month bills
do
3_5 vear taxable issues
do
Savings deposits, balance to credit of depositors:
New York State savings banks
mil of dol
U. S postal savings
__do
CONSUMER CREDIT

r

P 553

852
1,119
161

860
1,131
162

872
1,151
164

882
1,167
166

888
1,181
167

894
1,203
169

904
1,191
168

922
1,211
170

938
1,268
176

951
1,273
176

956
1,275
176

?962
P 1,285
p 177

P971
P 1, 295
P 178

3,744
1,392
1,086

3,793
1,398
1,096

3,804
1,399
1,098

3,743
1,393
1,093

3,724
1,398
1,095

3,696
1,401
1,098

3,868
1,413
1,108

4,190
1,422
1,106

4 587
1,436
1,111

4, 253
1,445
1,114

3 967
1,448
1,117

? 3 855
P 1, 444
v 1, 104

*3 913
P 1, 450
P 1, 106

340
72
41
31
184

359
82
44
33
198

356
86
44
35
204

339
76
44
35
206

389
90
49
40
210

351
78
42
35
183

373
86
52
40
205

347
83
45
38
228

354
84
50
42
292

393
85
46
38
184

373
91
46
37
181

p 429
p 95
v 52
*>41
i»216

»431
P 102
P 50
*>39
P 210

3,289
2,626
54
2, 423
690
123

4,039
3,146
53
3,074
747
164

7,603
7,089
48
6,611
719
225

2,833
2,571
48
1,886
722
177

4,165
3,594
50
3,131
806
178

6,524
6,209
42
5,691
707
83

2,708
2,635
52
1,653
885
117

3,951
3,521
47
2,935
805
164

5,576
5, 279
44
4, 599
823
111

5,153
4,953
44
3,944
826
339

6,194
5 553
43
5 258
805
88

10, 800
9 886

5,187
4 323

5,163
4,739
5,969
4,007
4,517
5,483
5,087
Expenditures, total
_
do
5 627
5,178
5 455
232
580
222
253
1,557
163
497
Interest on public debt
do
1,057
173
228
422
422
435
384
425
411
427
Veterans Administration
do
478
449
397
2,628
3,040
2,930
2,495
2,160
2,396
3,166
3,015
National defense and related activities- . .do
3,070
3,414
1,142
1,533
1, 533
1,403
1,533
1,167
1,409
All other expenditures
do
1,103
1,512
1,363
1 Beginning April 1, 1952, includes 13A percent note of December 15, 1955 , and 2^ percent bond of March 15, 1956-58.
' Revised.
P Preliminary.
cfFor bond yields see p. S-19.

5 105
142
396
3, 155
1,412

5 704

Charge accounts
Single-payment loans
Service credit

_

do
__do
do

Consumer instalment loans made during the month,
by principal lending institutions:
Commercial banks
mil. of dol
Credit unions
__do
Industrial banks
do
Industrial-loan companies
do
Small-loan companies
do

r

FEDERAL GOVERNMENT FINANCE
Budget receipts and expenditures:
Receipts, total
___mil. of dol__
Receipts, net
do
Customs
do
Income and employment taxes
do
Miscellaneous internal revenue
__do
All other receipts
do




44

47

9 816

4 186

825
115
689
404
3.425
1,186

849
105
6 016

350
367
3,775
1,523

SURVEY OF CURRENT BUSINESS
Unless otherwise stated, statistics through
1950 and descriptive notes are shown in the
1951 Statistical Supplement to the Survey

S-17
1952

1951

May

April

June

July

August

Septem-

October

November

December

258, 298
255 940
220,325
35 615
2 359

259, 604
257 253
221, 391
35 862
2 351

259, 419
257 070
221, 168
35 902
2 348

January

February

March I April

259, 775
257 482
221 249
36 233
2 294

260,362
2-58 136
221 776
36 360
2 226

258, 084
255 794
219 301
36 493
2 290

FINANCE—Continued
FEDERAL GOVERNMENT FINANCE— Con.
Public debt and guaranteed obligations:
Gross debt (direct), end of month, total
mil. of dol__
Interest-bearing, total
do
Public issues
-(To
Special issues
do Noninterest bearing
_ _ _ do__
Obligations guaranteed by U. S. Government,
end of month
..mil. of dol__
U. S. savings bonds:
Amount outstanding, end of month
do
Sales, series E, F, and G
-do __
Redemptions
do

254, 727
252, 280
218, 690
33, 590
2.447

255,093
252, 729
218, 680
34, 049
2,364

255, 222
252, 852
218, 198
34, 653
2,370

255, 657
253, 325
218, 618
34, 707
2,332

256, 644
254, 321
219, 174
35 146
2,323

257, 353
254, 958
219, 321
35 637
2,395

21

29

29

28

32

33

37

43

42

38

37

41

44

57, 938
310

57, 842
295

57, 784
289

57, 733
310

57, 691
312

57, 662
272

57. 666
334
410

57. 710
315
364

57, 739
296
401

57, 809
440
492

57, 821
338
410

57,814
330
428

57, 772
313
437

472

477

Government corporations and credit agencies:
Assets except interagency total
mil ofdol
Loans receivable total (less reserves)
do
To aid agriculture
do
To aid home owners
do
To aid railroads
do
To aid other industries
do
To aid banks
do__.
To aid other financial institutions
do
Foreign loans
do
All other
do
Commodities supplies, and materials
do
TJ S Government securities
do
Other securities
do
Land structures and equipment
do
All other assets
do

475

481

436

25, 188
13,504
3,675
1,809

390

1,719
2,185
3,474
2.999
1,308

1,515
2,236
3,472
3,025
1,514

26,744
14, 422
4 161
2,142
101
488
(1)
814
6,110
779
1,461
2,226
3,463
3,358
1,813

25 668
13, 906
3 896
1,981

105
498
0)
824

104
494
(i)
755

6,151

6,133

627

720

Liabilities except interagency, total
Bonds, notes, and debentures:
Guaranteed by the United States
Other

do

2,340

2,383

2,573

do
do

29

34

1,378

1,399

43
1 369
1, 161

TJ S Government interest

do

315
22,533

22, 962

Reconstruction Finance Corporation, loans and
securities (at cost) outstanding, end of month,
total
- mil. of dol .
Industrial and commercial enterprises, including
national defense
mil. of dol _
Financial institutions
do
Railroads
do
States, territories, and political subdivisions do
United Kingdom and Republic of the Philippines 9
mil. of doL_
Mortgages purchased
do
Other loans
do

258, 292
256 102
219, 356
36 746
2 191

932

949

322

329
23 842

885

882

872

862

856

831

823

819

803

784

767

758

746

458
97
105

462
95
104

460
93
103

20

20

463
94
103

457
92
102

442
92
102

428
91
102
18

419
84
99
19

408
79
99
19

398
76
96
18

390
73
96
19

381
71
95
19

84
86

81
83

57

19

18

75
82

72
81

18

18

433
92
102
18

71
81

60
80
40

60
79
42

60
78
44

57
78
45

57
77
45

46

57
76
46

36

36

35

36

60
80
37

65, 156
58, 309

65, 496
58, 759

65, 727
59, 085

66, 128
59, 437

66, 455
59, 701

66, 777
59, 961

67, 181
60, 347

67, 476
60, 514

67, 983
60, 919

68, 554
61, 385

68, 907
61, 734

69, 250
62 125

69.604
62. 500

57, 641
37, 342
13, 147
10, 927
10, 350
3.005
10, 839

57, 894
37, 455
13, 021
10, 787
10, 376
3,017
11, 041

58, 091
37. 486
12, 741
10, 480
10, 457
3,024
11, 263

58, 431
37, 574
12, 657
10, 417
10, 503
3.033
11. 381

58, 702
37, 572
12,410
10,166
10.548
3,044
11,570

14, 675
1,263
13, 412
2,133
1,321
1,506

14, 921
1,283
13, 639
2,146
1, 323
1,450

15, 139
1,298
13, 841
2,156
1.342
1,468

15, 365
1,310
14,054
2,167
1,361
1,499

59 282
37, 776
12, 229
9 956
10, 647
3, 088
11, 812
735
15, 676
1,330
14, 347
2 182
1. 401
1 511

59, 556
37, 759
12. 060
9,829
10, 703
3,111
11.885
851
15, 851
1,338
14.512
2,190
1.408
1,497

59 999
37, 946
11.871
9, 657
10. 781
3,134
12. 160
848
16, 027
1 , 350
14,676
2 193
1,426
1 . 559

60 350
38, 056
11,767
9, 561
10, 814
3 150
12, 326
924
16, 185
1 357
14,828
2 199
1 432
1 554

60 640
38 187
11,706
9 514
10, 846
3 164
12, 470
851
16, 336
1,375
14,961
2 200

60
38
11
9
10
3
12

14, 397
1,239
13, 158
2,119
r
1, 312
r
1, 494

58, 975
37, 652
12.326
10. 050
10, 587
3,065
11,675
721
15,518
1,319
14,198
2,175
1,378
1,531

fil 237
38, 587
11.546
9 409
10. 961
3 185
12, 895
773
16. 583
1 406
15 176
2 226

1 445
1,615

938
385
588
436
909
182
706
785
16 459
1 388
15 071
2 217
1 464
1 628

2,250
282
466
1,502
100
369
322
126
172
58
136
53
166

2,384
367
505
1,512
96
368
324
133
172
58
135
55
171

2.258
306
475
1.477
93
356
315
134
166
58
138
49
166

2, 183

2,135

1,923
189
449
1, 285
81
284
284
118
155
54
116
47
145

2,256
226
481
1 549
104
347
336
132
195
75
132
54
174

2,398
398
453
1, 547
102
357
328
139
184
76
128
54
177

2,478
477
436
1,565
101
333
333
152
199
68
138
60
181

2 031
191
382
1 458
102
333
314
126
166
60
149
52
156

2 179
244
454
1 481
99
329
333
129
179
61
140
53
160

2 495
246
530
1 719
US
384
363
144
207
72
178
69
190

2 571
339
497
1 735
115
406
367
142
209
6Q
168
63
197

366. 424
155 y5]
41 738
8 351
30 826
57 16Q

344. 261
149 388
38 111
8 666
30 671
58 473
58.' 952

36

LIFE INSURANCE
Assets, admitted:
All companies (Institute of Life Insurance), estimated totalt
mil. ofdoL.
Securities and mortgages t
do
49 companies (Life Insurance Association of
America) total
mil of dol
Bonds and stocks book value, total
do
Govt. (domestic and foreign), total
do
U S Government
do
Public utility
... .. -do Railroad
do
Other
__ . _ _ - do _
Cash
do
Mortgage loans, total
__
do
Farm
do
Other
do
Policy loans and premium notes
do
Real-estate holdings
do
Other admitted assets
do
Life Insurance Agency Management Association:
Insurance written (new paid-for insurance):
Value, estimated total§
mil. of dol
Group§
_-.
do-_
Industrial§
do
Ordinary, total
do
New England
do
Middle Atlantic
do
East North Central
do
West North Central
do
South Atlantic
do _
East South Central
...
do
West South Central
do
Mountain
do
Pacific
...do

977

804

765

751

298
420

1,465

95
346
320
130
172
57
130
51
164

739

251
424

1,460

93
323
321
128
174
58
142
53
167

Institute of Life Insurance:
Payments to policyholders and beneficiaries,
307, 283
338, 335
338, 256
estimated total
thous. of dol. . 336, 397
327, 525
288, 393
364, 248
327, 648
315, 371
389, 502
329, 638
135, 428
146, 005
142, 116
149, 159
148, 81 1 122,338
Death claim payments
_
do
147, 059
141,621
136, 825
167 995
148 934
38, 234
43, 726
42, 984
43, 178
Matured endowments
do
35 119
39, 785
40 377
37 549
42 448
46 560
38 °>84
8,152
8,831
8,846
8,247
Disability payments do
7,453
8,580
8
605
8
311
7
988
9
887
8 273
r
r
31, 338 ' 28. 916 r«• 28, 478 r 29, 426 r 26, 483 ' 29. 545 r 30 560
Annuity payments
..
do .. f 27, 771
27,
987
38
294
28
819
r
r 51 965
r 46 769
r 47 712
48, 203 r 50 231 r 42 855
52 774
' 52, 253 52, 484 r 50, 892
Surrender values
do
50 648
48, 788
57, 811
53, 330
50. 692
54. 145
50. 097
nO 458
101.391
73' 992
53. 980
Policy dividends
do
65. 101
f
Revised.
1 Less than $500,000.
9Beginning with September, data are for Republic of the Philippines only.
^Revisions for January-July 1950 are shown in corresponding note in the October 1951 SURVEY.
fRevisions, available upon request, are as follows: Total insurance written, January 1949—January 1951; group, January 1950—January 1951; industrial, 1949.




72! 489

1 471
1 5^7

SURVEY OF CUREENT BUSINESS

S-18
Unless otherwise stated, statistics through
1950 and descriptive notes are shown in the
1951 Statistical Supplement to the Survey

June 1952
1952

1951

April

May

June

July

August

September

October

November

December

January

February

March

April

FINANCE—Continued
LIFE INSURANCE— Continued
Life Insurance Association of America:
Premium income (39 cos.), total— .thous. of dol__ 489, 571
' 47, 471
Accident and health
do
69, 670
Annuities
_ _ _ do_ _.
43, 028
Group
do
'65,140
Industrial
- do. _
' 264, 262
Ordinary
do

525, 553
61, 935
64, 136
42, 077
65, 808
291, 597

548, 412
51, 957
59, 188
42, 143
82, 265
312, 859

502, 612
50, 164
79, 708
43, 924
66, 224
262, 592

517,615
62, 341
57, 154
46, 426
61, 425
290, 269

508, 393
48, 730
60, 247
37,410
77, 350
284, 656

519, 296
56, 990
61,955
45, 518
72, 254
282, 579

526, 031
59, 737
73, 785
41, 151
60, 787
290, 571

743, 465
71, 169
148, 522
48, 449
115, 161
360, 164

549, 118
53, 541
90, 144
60,164
63, 880
281, 389

540, 742
58, 392
72, 425
47, 211
66, 827
295, 887

21, 805
101,914
112,842
2,245
' 63, 003
37, 616
12, 689
5,529

21, 756
—12, 947
43, 357
2,398
r
64, 042
38, 907
12, 913
5,536

21, 756
46, 270
41,422
3,840
* 63, 035
38, 235
12, 690
5,921

21, 759
-8, 790
28, 374
12, 165

21,854
136, 976
19, 183
15, 533

22,013
176,654
3,462
14, 341

22, 233
243, 381
26, 326
7,896

22, 382
188, 370
9,366
7,302

22, 695
289, 861
2,375
8,800

22,951
137, 452
13, 223
76, 864

' 23, 290
23 298
23, 190
152, 219 -103,092 —75, 357
1,473
1,313
17,805
158, 600
168, 129
97, 932

38, 869
12,054
5,464

39, 112
12, 078
6,648

37, 819
12, 564
6,397

38, 646
13, 243
6,628

38, 214
13, 033
5,711

37, 773
13, 160
5,147

' 12, 410
4,962

332
10, 016
.902

273
7,015
.902

182
16, 828
.884

665
4, 686
.902

194
6,616
.902

678
4,807
.902

250
6,975
.881

88
6,284
.880

89

157

513

142

3, 656
.880

6,125
.880

6,177
.880

8,126
.880

1,468
3,583
3,429

1,854
2,097
3,482

2,405
2,037
3,932

1,794
2,712
2,758

2,006
1,107
2,835

1,896
6,562
2,585

1,983
4,493
3,079

1,977
3,414
3,134

1,968
5,547
3,219

1, 788
3,338
3,766

2,016

27, 278
183, 600
2,500
7,800
173, 300
89, 500
59, 200
24, 600

27, 519
182, 900
2,500
6,700
173,700
89, 500
59,300
24, 900

27, 809
185, 038
2,424
7,930
174,684
88, 960
59, 948
25, 776

27, 851
184, 500
2,400
6, 300
175, 800
90, 700
60, 000
25, 100

28, 155
185, 200
2,300
6,000
177,000
91, 400
60, 300
25, 300

28, 288
187, 300
2,200
7,200
177, 900
92, 000
60,500
25, 400

28, 417
189, 200
2,100
5,500
181,600
95, 000
60,900
25, 700

32.5
22.3

30.0
21.3

34.4
22.2

31.1
20.9

27.0
20.0

31.7
21.8

30.4
20.9

647, 575
63, 831
84,833
52, 941
87, 382
358, 588

520, 597
61, 474
65, 077
46, 677
62, 142
285, 227

MONETARY STATISTICS
Gold and silver:
Gold:
Monetarv stock IT S
mil ofdol
Not release from earmark§
thous. of dol__
Gold exports
do
Gold imports
do
j
Af '
' t
y
Canada find Newfoundland)
do
United States
do
Silver:
Exports
_. _do. _ _
Imports
do
Price at New York
dol. perfineo z _ _
Production:
Ganada(incl Newfoundland) thous offineoz
IVTexico
do
United States
. ...
do _
Money supply:
Currency in circulation
mil of dol
Deposits and currency total
do
Foreign banks deposits, net.
_
_do
IT S Government balances
do
Deposits (adjusted) and currency, total.. do
Demand deposits, adjusted
do
Time deposits
_
do
Currency outside banks.
_ _ do. .
Turn-over of demand deposits except interbank and
IT. S. Government, annual rate:
New York Citv
..ratio of debits to deposits. _
Other leading cities
do

28,809
29,206
190, 500 r 193, 404
' 2, 279
2,100
5,600
' 5, 141
182, 700 ' 185, 984
96, 300 ' 98, 234
60, 600 '61,447
25,800 * 26, 303

31.4
22.0

37.9
22.6

r

28, 386
pl91, 600
P2, 100
p 4 300
P185, 200
P 97, 900
v 61, 700
v 25, 600

30.1
20.6

12, 343
4,848

3,430

12, 765
4,647

553
4,633
.880

3,854

28, 465
28, 473
28, 464
v 191, 500 f 192, 300 P 192, 200
P 2, 200
* 2, 200
P2, 200
v 5, 900
p 7 , 100
P 6, 200
TO 183, 400 » 182, 900 P 183, 800
* 94, 800 P 95, 100
* 95, 700
* 62, 000 p 62, 400
P 62, 800
9 25, 600
* 25, 700 v 25, 900

32.5
21.4

34.0
22.0

34.4
21 1

PROFITS AND DIVIDENDS (QUARTERLY)
Manufacturing corporations (Federal Reserve) :t
Profits after taxes total (200 corps ) mil of dol
Durable goods total (106 corps )
do
Primary metals and products (39 corps ) do
^Machinery (27 corps )
do
Automobiles and enuipment (15 corps ) do
Nondurable goods total (94 corps )
do
Food and kindred products (28 corps ) do
Chemicalsandalliedproducts (26corps ) do
Petroleum refining (14 corps )
do
Dividends total (200 corps )
do
Durable goods (106 corps )
do
Nondurnble goods (94 corps )
do
Electric utilities, profits after taxes (Fed. R«s.)t
mil of dol
Railways and telephone cos. (see p. S-23).

839
497
193
82
183
342
40
120
118

762
428
176
73
142
333
46
111
127

932
565
217
123
185
367
52
125
148

P 756
v 445
v 162
f 81
v 170
p 311
P 40
•P log
•P 126

475
273
202

475
273
202

567
325
241

p 482
P 273
P 210

226

P 257

r

••195

r

168

SECURITIES ISSUED
Commercial and Financial Chronicle:
Securities issued, by type of security, total (new
capital and refunding)
mil. ofdol..
New capital total
.- do
Domestic total
do
Corporate
do
Federal agencies
_
do
Municipal, State, etc
do
Foreign
_
_.do
Refunding, total
do
Domestic, total
do_ _
Corporate
do
Federal agencies
._ _ ._ _- do
Municipal, State, etc
do

1,064
920
918
660
29
228
2
144
144
80
61
4

1,161
946
865
398
60
407
80
215
215
13
198
4

1,302
1,106
1,075
706
89
280
31
197
197
57
137
3

937
810
802
476
8
319
8
127
124
29
93
2

634
441
398
248
0
151
43
192
192
20
172
1

986
792
642
337
40
265
50
194
194
20
170
4

1,288
966
937
463
107
368
29
322
322
16
288
18

976
836
815
517
0
297
22
140
140
47
89
4

1,093

883
838
562
0
276
45
211
205
83
102
19

1,232

930
929
541
39
349
1
302
302
10
71
221

855
697
667
346
36
285
30
158
158
74
76
8

Securities and Exchange Commission:!
T
r
r
«• 1, 490
' 3, 985
* 1, 747
'1,694
«• 1, 351
' 1, 619 ' 1, 789 T 1,638
Estimated gross proceeds, total
do
1, 780
2, 194
1,698
By type of security:
r
r
1, 630
' 3, 762
'1,523
' 1, 199
'1,219
'1,554
' 1, 555
Bonds and notes, total..,.
do__ _
1, 368
' 1, 545 ' 2, 063
' 1 534
'553
'507
'637
'360
'376
'324
'422
'403
Corporate
_
do
' 636
'474
' 314
r
'197
'90
'152
'132
'55
31
' 106
' 105
Common stock
do
' 154
132
'48
r 77
'95
'26
'72
'39
'35
Preferred stock
do
'127
' 166
'83
104
' 10
By type of issuer:
r
r
47g
'798
'531
'670
'861
'508
'390
' 655
Corporate, total
do
' 673
871
' 605
' 379
'343
' 158
'389
'233
'314
Manufacturing
do
' 160
' 220
' 487
' 354
' 291
'277
'198
' 190
'259
' 152
' 128
' 201
Public utility
- do
' 267
r 260
r
l\2
' 186
14
18
92
T 29
20
26
Railroad
_
do
'30
18
76
23
17
3
'24
'3
52
3
'3
'8
Communication
do
'37
16
' 26
'2
'31
'49
'75
'28
'126
' 15
Real estate and
financial
_
do
' 63
' 15
' 24
15
13
692
' 1, 077
' 3, 125
1, 163
843
Noncorporate, total
do
' 1, 230
1,134
'965
'909
' 1, 589 ' 1, 220
451
581
834
2, 830
656
765
U. S. Government
_
do
651
655
1 024
601
967
234
'412
321
'283
152
State and mum'tinal
do
'269
397
'.302
' 2Qfi
' fififi
222
r
Revised.
» Preliminary.
§Or increase in earmarked gold (—).
^Revisions prior to 1st quarter of 1951 for manufacturing corporations and electric utilities and for January-March 1951 for SEC data will be shown later.




1 649

2 161

1 425

1 963
606
135
64

748
161
63
972
373
400
12
g
20

805
948

677
515

255
34
44
46
1,357
722

145

207

SURVEY OF CURRENT BUSINESS

June 1952

Unless otherwise stated, statistics through
1950 and descriptive notes are shown in the
1951 Statistical Supplement to the Survey

S-19
1952

1951

April

May

June

July

August

September

October

November

December

January

February

March

April

FINANCE—Continued
SECURITIES ISSUED—Continued
Securities and Exchange Commission}:—- Continued
New corporate security issues:
Estimated net proceeds, total
mil. of doL.
Proposed uses of proceeds:
New money, total
do
Plant and equipment
do
Working capital
do_ __
Retirement of debt and stock, totaL .do
Funded debt
do
Other debt
do
Preferred stock
do
Other purposes
_ __
__do
Proposed uses by major groups:
Manufacturing, total
__do. _
New money
do
Retirement of debt and stock
do
Public utility total
do
New money
do_ __
Retirement of debt and stock
do
Railroad, total
- ._ __ do.
New money
do
Retirement of debt and stock
_ do
Communication, total
do
New money
- do
Retirement of debt and stock
do
Real estate and financial, total _ . do
New money
_ . ..
- - do
Retirement of debt and stock
_ do
State and municipal issues (Bond Buyer) :
Long-term
thous. of dol
Short-term
do

'783

'661

'847

'521

'500

'381

'639

'660

'856

' 595

'469

954

789

••619
'500
"•118
^109
'20
'35
'54
'56

'587
'433
'153
'50
'28
'14

' 714
'471
'242
'121
' 54
'58
9
'12

' 469
' 350
' 119
' 47
' 26
' 18
'r 3
5

' 436
'342
94
50
21
27
'3
r
14

'343
' 286
'58
' 33
'18
'15
0
'5

'548
'404
' 144
' 65
' 10
'53
2
'26

' 570
'488
'83
'72
'42
'29
' 1
'18

'771
'682
'90
' 55
'42
' 11
'2
'29

'559
'487
'72
'23
'8
' 15
0
' 13

'413
'278
'134
'49
'35
'13
1
'7

875
655
221
60
15
45
0)
19

688
490
197
80
13
64
3
22

'372
'311
' 59
'270
'219
'23
20
20
0
'24
'24

'339
'307
' 12
' 195
' 189
'3
14
14
0
'3
'3
'0)
'48
'27
'21

' 384
'336
'46
'255
'238

' 154
' 124
'29
' 187
' 185
'2
18
18
0
'51
'51
'0
'74
'70
'1

'r 230
198
'31
' 150
* 139
' 11
9
9
0
'3
'3
,(i)
'27
' 12
'3

' 156
' 142
' 14
' 127
' 124
'3
30
'30
0
'8
'8
'0
'14
' 11
'3

' 306
'263

'214
' 180
'30
'262
'251
'11
76
61
15
'37
'37

'480
'428
'34
'255
'240
' 15
22
22
0
'25
'24
'1
' 23
'18
'3

' 349
'331
' 11
'184
' 177
'7
17
17
0

'285
' 2?>8
'43
'110
'107
'3
'29
'29
0
3
3
0
'13
' 12

366
336
20
393
365
28
12
12
0
6
6
0)
20
15
2

244
226
13
250
233
14
34
34
0
43
40
3
46
44
0

r(l)

'30
'22
'5

r 9

'24

r 14

26
26
0
'3
'2
'1
' 124
'72
' 52

r 41

' 197
'178
' 18
18
16
2
15
' 15
r
O)
'62
'48
'2

r(l)

' 14
'11
'1

r O

2
,(i)
' 14
' 11
' 1

r(l)

237, 662
191, 699

433, 961
162, 557

335, 166
105,887

364, 091
74, 901

156, 214
84, 760

249, 434
36, 315

381, 580
191, 104

299, 109
210, 915

265, 503
215, 196

574,694
93, 863

303, 614
156, 037

155
409

222
434

185
389

175
445

163
458

249
308

220
340

286
454

242
380

248
338

220
304

191
286

219
364

1,286
879
661

1,287
855
681

364
1,275
834
680

1,266
825
672

1,260
816
624

1,290
843
640

1,291
853
653

1,279
805
649

378
1,292
816
695

1,289
809
633

1,280
890
652

1,293
756
734

1,315
756
818

98.28
98.79
71.70

97.86
98.37
71.78

98.48
98.98
73.10

99.23
99.73
73.66

98.72
99.22
72.93

98.29
98.78
73.00

97.82
98.30
72.65

97.43
97.92
72.44

98.01
98.49
73.48

97. 83
98.30
73.39

98.26
98.75
73.07

98.87
99 36
73.75

117.4
131.1
97.90

116.6
128.6
97.62

116.2
129.4
97.93

117.1
132.1
98.90

118.0
132.0
99.10

116.9
131.3
98.22

115.3
131.6
97.52

114.8
130.9
96. 85

115.6
130.8
96. 27

116.5
132.1
96.77

115.9
131. 5
96.87

116.2
132 7
97 95

69, 822
80, 270

54, 048
63, 267

52, 767
66, 368

53, 065
60, 666

54, 075
62, 621

66, 533
79,818

47, 052
56, 942

58, 376
71, 347

63, 229
75, 892

51, 332
61,626

51, 113
59, 745

59 014
71, 124

67, 378
77, 369

51, 192
60, 114

50, 590
62, 649

51, 120
57, 957

52, 560
60, 534

64, 609
75, 600

45, 275
53, 328

56, 026
67, 670

60, 802
72, 524

49, 298
58, 610

49, 640
57, 821

57, 456
67 299

67, 814
5
67, 809
61, 391
6,408

55, 399
0
55, 399
49, 191
6,179

56, 400
2
56, 398
45,698
10, 650

52, 111
0
52, 111
45, 548
6,515

56, 211
0
56, 211
49, 960
6,192

67,291
10
67, 281
58, 350
8,867

48 559
0
48, 559
41, 895
6,613

60, 525
3
60, 522
54, 325
6,079

66, 971
68
66, 903
59, 389
7,399

49 109
0
49, 109
42, 912
6,174

58, 123
30
58, 093
52, 190
5,858

61 624
' 0
61, 624
55 621
5 918

99, 938
98, 278
1,369
101, 692
99, 482
1,910

97, 818
96, 163
1,366
99, 958
97, 754
1,904

98, 457
96, 777
1,389
99, 975
97, 775
1,900

99, 271
97, 580
1,399
100,045
97, 846
1,899

97, 925
96, 290
1,347
99, 197
97, 050
1,847

97, 511
95, 876
1,345
99,206
97, 063
1,843

97, 151
95, 427
1,339
99, 318
97, 075
1,843

95, 634
93, 920
1, 332
98, 158
95, 920
1,839

96, 269
94, 537
1,349
98, 221
95, 985
1,836

96,158
94, 431
1,344
98, 292
96 060
1,832

96, 699
94, 978
1,338
98, 415
96, 183
1,831

97, 355
95 625
1 347
98 466
96 239
1 827

3.09

3.16

3.17

3.12

3.08

3.13

3.20

3.25

3.24

3.18

3.19

3.16

2.89
2.93
3.15
3.40

2.94
2.99
3.21
3.49

2.94
2.99
3.23
3.53

2.88
2.92
3.17
3.50

2.84
2.88
3.15
3.46

2.89
2.93
3.18
3.50

2 96
3.02
3 26
3.56

3 01
3.06
3 31
3.61

2.98
3.05
3.32
3. 59

2 93
3.01
3 25
3.53

2
3
3
3

2
3
3
3

2.90
3.10
3.28

2.96
3.18
3.33

2.97
3.19
3. 36

2.92
3.13
3.31

2.89
3.09
3.27

2.93
3.14
3 31

2 97
3 21
3 42

3 00
3.24
3 50

3 00
3.23
3 48

2 97
3 19

2 99
3 21
3 36

2.07
2.09
2.63

2.21
2.22
2.65

2.06
2.18
2.63

2.00
2.04
2.57

2.05
2.05
2.56

2 04
2.08
2.61

2 07
2 07
2.66

2 11
2 10
2.70

2 08
2 10
2.74

2 07
2 04

' 150, 618
' 200, 194

396, 863
170,094

COMMODITY MARKETS
Volume of trading in grain futures:
Corn
„
Wheat

mil. of bu
do

SECURITY MARKETS
Brokers' Balances (N. Y. S. E. Members
Carrying Margin Accounts)
Cash on hand and in banks
Customers' debit balances (net)
Customers' free credit balances
Money borrowed
..

mil of dol
do
do
do

Bonds
Prices:
Average price of all listed bonds (N. Y. S. E.),
98.72
total§
__
_-. -dollars..
99.24
Domestic _ do
71.85
Foreign
_ _ _ _ _ _ _ _
.do
Standard and Poor's Corporation:
Industrial, utility, and railroad (Al+issues):
117.8
Composite (17 bonds)
dol. per $100 bond__
131.9
Domestic municipal (15 bonds)
do
98.93
U. S. Treasury bonds, taxable
do
Sales:
Total, excluding TJ. S. Government bonds:
All registered exchanges:
106, 614
Market value
thous. of dol
108, 793
Face value
__
_ _
do
New York Stock Exchange:
Market value _ _ _ . _ _ _
. _ _ d o _ _ _ 104,014
105, 659
Face value
do
New York Stock Exchange, exclusive of stopped
76, 030
sales face value, total §
thous of dol
1,946
U. S. Government
do
74, 084
Other than U. S. Government, total§
do
67, 413
Domestic
_ __
_ _ _ __ -do
6,601
Foreign _ _ _ _
_ __ _ _
.do
Value, issues listed on N. Y. S. E.:
Market value, total, all issues§
mil. of dol_. 100, 247
98, 630
Domestic _ _ _ _
_ ___
do
1, 373
Foreign
_ _
_ _ _ _ _ _ _
do
101,
545
Face value, total, all issues §
do
99, 384
Domestic
do
1,912
Foreign
_ __._
_
_ d o __
Yields:
3.07
Domestic corporate (Moody's)
percent...
By ratings:
2.87
Aaa
do
2.93
Aa_ _ _
_ _
do.
3.11
A
do
3.35
Baa
__ _
__do__By groups:
2.89
Industrial
do
3.07
Public utility
_ _
__ do
3.24
Railroad
do
Domestic municipal:
1.94
Bond Buyer (20 bonds)
do
2.05
Standard and Poor's Corp. (15 bonds) _ do ...
2.56
U. S. Treasury bonds, taxable. __ .
do

9 OQ

9 71

96
03
24
51

2 05
2 07

9, 70

93
01
20
50

2 97
3 19
3 32
2 03
2 oi
2 9 R4

r
l
2
Revised.
Less than $500,000.
Beginning April 1, 1952, series based on taxable bonds due or callable in 12 years and over; prior thereto, 15 years and over.
JRevisions for January-March 1951 will be shown later.
§Sales and value figures include bonds of the International Bank for Reconstruction and Development not shown separately; these bonds are included also in computing average price of
all listed bonds.




S-20

SUEVEY OF CURRENT BUSINESS
1951

Unless otherwise stated, statistics through
1950 and descriptive notes are shown in the
1951 Statistical Supplement to the Survey

April

May

June

July

1952

August

September

October

November

December

January

February

March |

April

FINANCE—Continued
SECURITY MARKETS— Continued
Stocks

Cash dividend payments publicly reported:!
Total dividend payments
mil. of dol._
Finance
do
Manufacturing
do
Mining
do
Public utilities:
Communications
, _
do. __
Heat, light, and power
do
Railroad
_
do
Trade
do __
M iscellaneous
do
Dividend rates, prices, yields, and earnings, 200
common stocks (Moody's):
Dividends per share, annual rate (200 stocks)
dollars-Industrial (125 stocks)
do
Public utility (24 stocks)
do
Railroad (25 stocks)
do_ __
Bank (15 stocks)
do
Insurance (10 stocks)
do

' 523. 5
'87.1

' 204. 7
'9.0

'74.8
'55.2
' 25. 1
'56.0
'11.6

'213.2 '1,134.4
' 35. 2
'79.4
'114.6
'731.0
'2.0
'88.7

'40.2
'69.8
'50.7
'48.0
'26.6

'.7
' 45. 7
'3.5
'8.5
'3.0

' 534. 7
'125.3
' 206. 7
'6.1

'214.9
'40.6
'102.4
'2.5

'78.2
' 53. 7
'11.0
'39.5
'14.2

'.7
'47.3
'7.8
'7.8
'5.8

'1,148.4
'81.1
'761.2
'92.2

'533.9
'104.5
'213.4
'7.3

'40.0
' 06. 0
' 35. 9
'50.4
'21.6

'82.3
' 56. 2
'13.0
'42.0
'15.2

'243.3 '1,819.6
' 53. 4
' 21 2. 6
'113.7 ' 1. 134. 4
'152.1
'1.7

505.7
107.4
169.6
4.7

181.4
42.3
64.4
2.3

1, 202. 1
75.9
813. 5
97.6

533. 5
93.0
195. 2

8.2

'.7
M9.4
'10.9
'8.2
'5.3

41.7
80.9
69.6
80.9
47.4

83.4
53.2
17.8
56.8
12.8

.7
46.3
7.1
15.0
3.3

25. 5
74.2
51.6
39.8
24.0

89. R
57. 6
24.1
53. 9
11.7

4.15
4.52
1.87
2.58
2.65
2.73

4.15
4.51
1.87
2.58
2.65
2.73

4.15
4.53
1.87
2.58
2.63
2.73

4.18
4.55
1.87
2.58
2.63
2.73

4.11
4.45
1.88
2.58
2.63
2.73

4.12
4.47
1.90
2.55
2.63
2.73

4.09
4.43
1.90
2.55
2.63
2.73

3.92
4.19
1.90
2.58
2.63
2.73

3.88
4. 13
1.90
2. 55
2.64
2.84

3.92
4.18
1.90
2.55
2.64
2.84

3.92
4.18
1.89
2.64
2.64
2.84

3.92
4.19
1.91
2. 65
2.6C
2.84

3.94
4.21
1.91
2. 65
2.60
2.84

67.20
71.15
31.78
42.17

65.39
68.88
31.99
40.04

63.40
66.75
31.70
36.68

67.45
71.28
32.67
39.93

70.10
74.46
33.13
40.76

69.73
74.09
32.87
41.57

67.97
72.07
32.94
39.79

67.80
71.48
33.26
39.97

69.94
74.24
33. 85
40.00

70.90
75. 09
34.42
42.26

68.39
72.00
34. 41
41.59

71. 35
75. 63
34. 73
45.28

68.29
71.73
33. 97
43.80

6.18
Yield (200 stocks)
.percent..
6.35
Industrial (125 stocks)
..-do
5.88
Public utility (24 stocks)
do
6.12
Railroad (25 stocks)
.
.-do
4.74
Bank (15 stocks)
do
3.41
Insurance (10 stocks)
_
__do
Earnings per share (at annual rate), quarterly:
Industrial (125 stocks)
dollars
Public utility (24 stocks)
do
Railroad (25 stocks)
do
Dividend yields, preferred stocks, 11 high-grade
4.11
(Standard and Poor's Corp.)___
percent. _
Prices:
92.86
Dow-Tones & Co., Inc. (65 stocks) _.dol. per share-253. 36
In dustrial (30 stocks)
do
42.36
Public utility (15 stocks)
do
82.59
Railroad (20 stocks)
do .
Stand nrd and Poor's Corporation:
Industrial, public utility, and railroad:§
172.3
Combined index (416'stocks)... 1935-39= 100..
187.3
Industrial total (365 stocks)
do .
179.4
Capital goods (121 stocks).
do. ..
168. 8
Consumers' goods (182 stocks)
do
110.2
Public utility (31 stocks)
do
148.7
Railroad (20 stocks)
do. _.
106.1
Banks, N. Y. C. (19 stocks)
do.—
181.9
Fire and marine insurance (18 stocks) .do
Bales (Securities and Exchange Commission):
Total on all registered exchanges:
1,547
Market value
mil. ofdol
Shares sold
thousands. . 67, 024
On New York Stock Exchange:
1,320
Market value
mil. ofdoL.
50, 583
Shares sold
thousands
Exclusive of odd lot and stopped sales
(N. Y. Times)
thousands.. 34, 290
Shares listed, New York Stock Exchange:
Market value, all listed shares
mil. of dol_. 102. 747
2,437
Number of shares listed
.millions..

6.35
6.55
5.85
6.44
4.77
3.49

6.55
6.79
5.90
7.03
4.86
3.48

6.20
6.38
5.72
6.46
4.79
3.35

5.86
5.98
5. 67
6.33
4.67
3.20

5.91
6.03
5.78
6.13
4.70
3.28

6.02
6.15
5.77
6.41
4.77
3.44

5.78
5.86
5.71
6.45
4.64
3.47

5. 55
5. 56
5.61
6.38
4.45
3.47

5.53
5. 57
5. 52
6.03
4.41
3.38

5.73
5.81
5.49
6.35
4.50
3.41

5.49
5. 54
5. 50
5. 85
4.41
3.37

5.77
5.87
5.62
6. 05
4.58
3.41

Price per share, end of month (200 stocks). _do
Industrial (125 stocks)
do _
Public utility (24 stocks)
do
Railroad (25 stocks)
. __ ._ -do

7.42
2.53
5.52

6.36
2 44
4.71

r

8.09
2 44
12.94

6.68
2 47
5 61

4.15

4.17

4.20

4.13

4.16

4.19

4.23

4.28

4.26

4.22

4.16

4.07

92. 57
254. 36
42.28
81.37

90.46
249. 32
42. 55
78.06

91.29
253. 60
43.75
77.04

95. 1 9
264.92
45. 06
80.53

98. 11
273. 36
45. 40
83.91

97.82
269. 73
46.04
84.25

94.44
259. 61
46.22
79.73

96.73
266. 09
46.72
82.30

99.39
27.1.71
48.61
84.81

98. 31
265.19
48.87
85.05

100. 02
264. 48
49.80
89.55

100.24
262. 55
49.13
92. 19

173.9
189.3
181.9
167.9
110.5
147.5
105.6
183.4

171.7
186.9
179.2
163. 1
110.2
141.6
105.4
182.7

172.8
188.1
179.9
163.7
111.5
139.4
104.2
184.9

181.5
198.3
190.7
1 68. 0
114.4
147.1
105.8
193.0

187.3
205.2
197.1
172.9
115.8
152.8
108.0
195.4

185.0
202.3
193.3
171.4
115.2
154.7
106.4
187.5

177.7
193.3
182.6
164.6
114.7
144.2
109.0
182.9

182.5
199.1
189.4
167. 6
115.5
150. 5
110.2
188. 5

187.1
204.3
192. 4
169.2
117.0
155.4
115. 4
194.0

183.2
199.1
184.7
166.0
117.5
155.0
114.5
193.3

185. 2
201.4
184.4
167. 2
117. 7
lfil.3
113.3
195. 8

183.6
199 4
1*0 7
166. 3
110 7
164 6
110.9
19-1 7

2,030
74, 220

1.337
52. 456

1.354
53,154

1.626
59, 483

1,707
66, 385

2,045
85, 294

1,413
65, 122

1,501
63, 170

1,922
71, 188

1,598
62, 651

1,451
63. OOP

1 647
66. 670

1,748
56, 928

1.143
40, 667

1 . 1 71
42. 438

1,393
44. 583

1,445
48, 204

1,714
60,208

1,196
47, 449

1,279
44. 886

1,618
49, 431

1,351
42, 296

1.21S
43. 464

1 . 373
41 601

38, 457

27, 402

27, 989

33. 642

36, 395

42, 531

25, 677

30, 083

37, 141

27, 195

29. 513

2s, 903

100,120
2,452

97, 920
2, 528

104. 610
2. 557

108. 307
2, 568

108, 911
2,581

106, 439
2,592

106, 309
2,604

109, 484
2.616

111.580
2,627

108, 471
2,634

113.099
2.644

107. 848
2. 601

INTERNATIONAL TRANSACTIONS OF THE UNITED STATES
BALANCE OF PAYMENTS (QUARTERLY)?
Exports of snoods and services total
Merchandise adjusted

' 5, 285

mil of dol
do

Other services

do

Imports of goods and services, total
Merchandise adjusted
Income on foreign investments in XT S

' 5, 047
' 3. 849
'4.59
'739

' 4, 103
'467
'715

' 3, 935
' 3, 132
'98
' 705

do
do
do

--

—

' 3. 671 --' 2, 677
'90
'904

--

' 5. 520
'4.130
'670
'720

5 294
4 155
418
721

' 3. 593
' 2. 045
' 111
'837

3. 909
2. 905
94
850

Balance on goods and services.

__do

' +1, 350

'+1,376

' +1, 927

Unilateral transfers (net), total
Private
Government

do
do
do

' -1.351

' -1,218
—90
' -1,128

' — 1. 204
' —114
' -1,090

U S long- and short-term capital (net), total do
Private
do
Governmentdo
Foreign long- and short-term capital (net)

' -1,252

.

do

Increase (— ) or decrease (-}-) in U. S. gold stock
mil of dol
Errors and omissions

.

__do —..

+1,385

917
—95
—822

' -392
' -268
—124

' -37
' -10
—27

' -502
r
422
r
—80

— 133

'+94

' -2

' +404

+183

r

+55
' +244

306

-292

-709

—555

'4173

'+84

+270

r
Revised.
* Preliminary.
^Revisions for dividend payments for January-March 1951 will be shown later. Revisions for balance of payments for 1st quarter of 1951 (in order of appearance of items, mil.
4,367; 3,404; 396; 567; 3,914; 3,214; 99; 601; +453; -1,140; -109; -1,031; -298; -263; -35; -1; +893; +93.
^Number of stock? represents number currently used; the change in the number does not affect the continuity of the series.




SUEVEY OF CURRENT BUSINESS

June 1952

S-21

1951

I nless otherwise stated, statistics through
1950 and descriptive notes are shown in the
1951 Statistical Supplement to the Survey

April

May

June

July

1952

August

Se

m

g^ "

October

November

December

February

January

March

April

INTERNATIONAL TRANSACTIONS OF THE UNITED STATES—Continued
FOREIGN TRADE
Indexes
Exports of U. S. merchandise:
Quantity
_ _
- 1936-38-100 Value
do __
X^nit value
do
Imports for consumption:
Quantity
do
Value
do
Unit value
do
Agricultural products, quantity:
Exports, domestic, total:
Unadjusted
_ . 1924-29 = 100Idjusted
- do_ __
Total, excluding cotton:
Unadjusted
do
Adjusted
- do _
Imports for consumption:
Unadjusted
do
Adjusted
- do

265
555
210

260
550
212

250
525
210

232
484
209

••250
'517
207

249
501
202

152
471
309

148
461
311

140
446
319

137
433
316

139
435
313

130
165

105
132

92
117

74
101

190
231

155
174

150
177

112
104

104
107

8,758
7,560

9,714
7,849

r

r

232
469
202

279
565
203

r 586

r 508

208

206

261
540
207

278
570
207

118
364
307

141
425
301

135
403
298

131
390
299

149
446
300

147
439
298

157
474
302

90
99

106
86

117
81

136
103

148
116

129
123

125
151

121
143

126
157

155
151

157
125

149
113

158
138

157
141

157
163

164
207

178
213

99
109

103
114

107
116

91
95

102
103

102
108

93
92

17L
116

120
118

122
110

9,526
8,193

8,865
8,033

11, 171
7,642

10, 931
6,673

10,605
7,873

9,400
6,899

r

8,473
7, 705

6 888

1, 386

' 1, 438

r

281

246

Shipping Weight

Water-borne trade:
Exports, incl reexports^
General imports

__thous. of long tons-- -do

r

8, 309
6, 322

r

Value
r
1,370
1,354
1,294
1, 269
1,190
1,232
Exports, including reexports, total!
mil. of dol__
By geographic regions:
\frica
_ _ _ thous. of dol__ r ' 47, 853 ' 58, 965 r 48, 590 r r 56, 394 r r 58, 191
58, 477
184,912
200, 481
192, 424
190, 855
205, 651
\sia and Oceania
- - do _ r 2,32, 899
385, 291 367, 617 * 338, 960 r 283, 061 r 300, 987 r 329 003
Europe
do
r
r
r
r
203, 713
255, 641
236, 890 ' 202, 521 202, 829
200, 263
Northern North America
do
r
149, 134
140, 970 * 136, 478
140, 067 r 138, 645 r 136, 428
Southern North America
_ _ _ do
172, 143
174, 180 T 184, 228
182, 787 ' 198, 322
177, 214
South America
do _
Total exports by leading countries:
Africa:
4,794
8,078
8,039
6,804
7,313
10, 624
Egypt
do_ __
r
f
24, 563
25, 530
29, 089
21, 821
23, 893
25, 482
Union of South Africa
__
do_ _
Asia and Oceania:
r
13, 936
13, 168
Australia, including New Guinea
_ do_
14 983
8,270
12, 874
16 763
4,887
5,462
4 274
British Malaya
- do
6 003
4 447
5 489
0
0
0
o T
0
0
ChinaO
- - - -—
do
r
36, 870
35 465
India and Pakistan
_ _
do _ r 38, 524
42 076
30 400
33 751
r
r
39. 456
73, 194
Japan
- - - _ _ _ _
do_
34 237
45, 076
51, 122
30 753
r
10,225
15, 799
15 327
14 628
Indonesia
do
15 341
14 G99
35, 820
27, 241
34, 323
24, 026
Republic of the Philippines
do
35, 335
31, 273
Europe:
T
r
r
T
r
41,325
32, 295
39 535
36 549
32 284
36 392
France
do
44, 296
49, 223
41 279
41 786
33 088
40, 158
Germany
do
T
r
02,465
20, 711
72, 198
24, 253
38, 089
20,505
Italy
- - do
4
1
2
13
Union of Soviet Socialist Republics
do
7
0)
69, 496
77, 999
68, 213
56, 423
United Kingdom
do_ _
97, 170
71, 556
North and South America:
Canada, incl. Newfoundland and Labrador
d o _ _ _ . r 263, 698 r 255, 597 T 236, 888 ' 202, 466 r 202, 826 rf 200, 197
' 307, 993 ' 300, 574 ' 310, 276 r 307, 194 r 330, 140
Latin- American Republics, total
do
298, 047
24, 368
25, 220
19, 723
19,010
20, 231
23, 900
Argentina
-_ __ _ do
45,919
54, 610
69, 125
58, 337
61 000
74,292
Brazil
do
r
13, 277
15, 902
16, 553
16, 218
17, 408
11, 625
Chile
do
T
r
r
22, 250
21,930
19 355
20, 788
20 089
17, 145
Colombia
do
48, 834
40, 7£2
43, 071
42, 627
38, 829
Cuba
. _ ...
_ _ do
41,739
61,916
59 *86
60, 952
64 391
60, 380
59 538
Mexico
do
45,536
38, 487
39, 025
39, 531
35, 247
Venezuela
_ _ _ _ _
do
32,524

Exports of U. S. merchandise, total! mil. of dol__
By economic classes:
Crude materials
thous. of dol
Crude foodstuffs
do
Manufactured foodstuffs and beverages. _ _do
Semimanufactures 9 - - --_
do.
Finished manufactures 9
do_
By principal commodities:
Agricultural products, total
do
Cotton, unmanufactured.
_ _ _ _ do _
Fruits, vegetables, and preparations
do
Grains and preparations
do
Packing-house products-.
do
Nonagricultural products, total
__ . do_ ._
Aircraft, parts, and accessories §
do
Automobiles, parts, and accessories§cf_-do
Chemicals and related productscf _ _ do
Coppercf
do___
Iron and steel-mill products _ _ __ _ do

1,353

r

228 512
103,562
82, 412
134 549
743 804

1,340

r

419 984
117 761
14, 523
177, 297
29, 339
r

932, 854
1,850
110, 488
82,929
9,261
48 125

r

1,280

203 953
137, 880
71, 443
142 617
784 215

148
135,
74,
153
767

354 60°
93 532
15,912
138, 191
26 797

310 744
50' 600
16, 417
131, 766
23 552

985, 505
1,007
110, 500
T
86 146
7, 170
50 191

969 583
3,650
104, 652
93 417
7 0»7
47 390

461
776
229
929
932

1,179
r

128 063
105, 050
79, 807

r 155 010
T

718 5?4
251 719
32 003
13, 799
111,027
24 130

r

927 736
2, 565
103, 048
r 89 523
48 588

r

1, 260

1,222

r

r
r
r

r

r

1, 152

34, 204
182 450
346 708
214, 009
131,348
133, 848

r

r

r 40 812
47 482
34, 723
0
r
96, 012

33 193
44 727
24, 825

0)

99 809
r

r

214, 623
252, 946
13 904
51 81?9
7 047
13 191
r
39 912
62 805
r 27 636
r

4, 033
21, 503

7,718
22, 166

5 757
17, 416

7,889
29, 043

26, 026
5 047
0
82 359
55, 307
12 403
41, 028

18, 558
3,884
T
0
09 605
44, 582
10 343
23. 050

17 246
4 002
0
77 879
51 942
11 786
25, 558

20, 954
3,792
0
66, 884
50, 355
12, 449
25, 262

29 308
47 137
40 372
2
75 810

42 688
40 741
46, 995
2
87, 006

192,265
203, 655
' 273, 882 ••321,392
14, 750
14 143
75 309
57 904
10 400
11 928
r 20 957
15 722
r
39 866
49 409
r 55 454
54 526
33' 620
43 450

227, 469
343, 281
15, 138
74, 757
15,125
20 843
48, 697
65 335
48, 276

24, 673
5,139
(i)
78, 027
58, 122
12 421
32, 579

14, 304
3,648
0
41, 422
40, 845
7, 177
27, 044

r

208, 047
* 327, 314
21, 558
r
71 073
r
12 641
18 949
r
48' 993
r 62 850
40 122
r

r

r
T
r
T

r

48 152
55 299
44 119
5
103 044

r
r

r
r

r
180, 639
r 342, 026
r
18, 878
r 81 924
19 346
20 256
44 108
r 63 340
r 39 235

r

41 079
03 151
41,611
5
78, 393

r

1, 376

«• 1, 428

1, 238

'1,317

1,403

r 999 4P,9

r 255 350
' 128,130
r 00, 406
r
137, 108
r
656 815

228 045
129, 205
74, 120
138 742
r 746 658

188 112
175, 216
63,892
159, 901
815, 686
370 668
94, 236
19, 383
181, 897
23,498

1,144

1 ^ 392 r 207 509
10(>i 297
11 8,' 190
65, 570
78, 471
r 149 517 r 145,278
r 761 147 r 696, 886

T 972 498
98, 249
61,709
r
127 288
r 584 616

109', 339
73, 422
148 106
r 745 882

r 336 328
r
109, 222
* 09, 724
r 161 457
r 751 288

r 307 685
70, 787
16, 738
115, 935
T
18, 734

349 603
110 850
21,332
103, 925
16 292

r 415 986
165 771
20, 978
T
119, 634
r
24 724

r 460 281
213 107
20, 540
r
115, 001
r 28 683

r 377 024
148, 921
20, 144
r
130, 235
27 048

r 377 502
132 039
19, 489
r
145, 609
26 936

913, 915
2,302
101, 188
85 644
2 904
54 605

r 794 757
457
' 75, 819
71 2-16
6 679
45 973

r

r 267 818

r

r

276 985
32 139
17, 099
128, 156
19 554

' 982 731r
1,536
103, 270
91 811
3 008
r 48 614

1,416
71,130
238, 429
370 718
227, 488
157, 459
201,456

5,609
18, 872

r

1,329
55, 557
r 257 202
r 338 971
203 655
149 414
r
188 427

51, 379
294 556
439 507
180, 640
155 024
205 633

7,534
13, 859

1,250

48, 346
222, 488
385 849
192, 265
136, 049
152, 702

>• 46, 365
271, 447
T
377 370
r
208, 048
r
155, 955
T
187, 113
r

T

r

r

r

960 233
462
97, 866
90 358
9 90)3
r 56 445

r

860 850
2584
' 98, 917 77, 987
r
r 39 030
76 163
7 324
10 271
r 67 534
62 962
r

r

1,331

.
1, 321

939 333 1, 032, 138
2 1, 448
2722
109, 743
100, 542
80, 104
78 617
11,107
8 685
63 080
78 910

r
Machinery, total§cf._ _do
227, 409
262 594
219 062 r 217 585 r 217 108 r 193 721 r 172 038 r 214 246 r 237 795 r 213 309 r 240 606
220 758
Agricultural
do
13 6^1
13 017
12 344
13 3°0
14 015
10 818
13 856
15 301
10 631
9 384
9 574
10 557
Tractors, parts,
and
accessories§
do
31,
765
34, 684
25,
100
27,
251
29,
840
28,
742
28,508
22,
956
21,
163
22,
294
28,
478
24,
406
r
r
r 41 995
r 51 545
r 49 358
r 48 799
Electrical §d1 _
___ do
48, 131
53 222
50 247
52 507
46 354
18 611
47 227
36 481
Metal working-.. __
do
18,284
23 487
17 025
15 687
19 823
20 327
15 692
17 279
18 303
15 346
12 059
17 391
9(5 901
Other industrial cf
do
99 143
98 823
116 042
125 971
95 590 r 100 053
88 970
82 231
103 356 r H8 844 r }03 650
r 74 137
Petroleum and products
do
r 73 278
r 65 049
58 584
64 207
71 204
65 061
60 974
85 145
83 540
76 389
69 763
r
Textiles and manufactures
do.
79, 036
69, 402
75, 645
59] 888
56, 162
72, 721
77, 546
61 ! 305
62, 891
62, 354
49, 742
69! 927
' Revised.
1 Less than $500.
2 Data beginning January 1952 exclude additional items classified as "special category." See note "§".
1 Total exports and various component items
include shipments under the Mutual Security Program (formerly the Mutual Defense Assistance Program) as follows (mil. of dol): April 1951-April 1952, respectively—83.5; 129.2; 115.1;
85.0; 115.3; 81.2; 58.8; 84.1; 59.6; 65.0; 78.7; 94.2; 153.7. Beginning July 1950, certain items classed as "special category" e-xports, although included in total exports, are excluded from water-borne
trade and from area and country data.
Q Including Manchuria beginning January 1952.
9 Data for semimanufactures reported as "special category, type 1" are included with finished manufactures.
§ Excludes "special category" exports not shown separately for security reasons.
d" Data beginning January 1951 have been adjusted to conform to the 1952 revision of the export schedule.




SUEVEY OF CURRENT BUSINESS

S-22
. stated, statistics through
Unless otherwise
1950 and descriptive notes are shown in the
1951 Statistical Supplement to the Survey

June 1952

1951

April

May

June

July

August

1952
September

October

November

December

February

January

March

April

962, 529

931, 800

INTERNATIONAL TRANSACTIONS OF THE UNITED STATES—Continued
FOREIGN TRADE— Continued
Value— Con ti n ued
General imports, total
thous. of dol__
By geographic regions:
Africa
- - do_ _
Asia a n d Oceania
_ _ _ _ _
do _
Europe
do _ _
Northern North America
_
do _
Southern North America
_- _ _ do _
South America
do
By leading countries:
Africa:
Egypt
-- do
Union of South Africa
do _
Asia and Oceania:
Australia, including New Guinea
_ do_ _
British Malava
do
ChinaQ
- _ do __
India and Pakistan
do
Japan
_ _ _ do
Indonesia
do
Republic of the Philippines
do
Europe:
France
do
Germany
do _
Italy
do __
Union of Soviet Socialist Republics
do
United Kingdom
do
North and South America:
Canada, incl. Newfoundland and Labrador
thous. of dol
Latin-American Republics, total
do _.
Argentina
_ _ _
do
Brazil
do
Chile
do _
Colombia
do
Cuba
_
do _
M"exico
(Jo
Venezuela
_
do

-1, 032,997 •1,017,662

Imports for consumption, total
__do__
By economic classes:
Crude materials
do _
Crude foodstuffs
do
Manufactured foodstuffs and beveraees do
Semimanufactures
do
Finished manufactures
.
do _
By principal commodities:
Agricultural products, total
do
Coffee
do
Hides and skins
do
Rubber crude including guayule
do
Silk, unmanufactured
do _
Sugar
do
Wool and mohair unmanufactured
do
Nonagricultural products total
do
Furs and manufactures
do
Nonferrous ores, metals, and manufactures,
total
thous of dol
Copper incl ore and manufactures do
Tin including ore
do _
Paper bnse stocks
do
Newsprint
do
Petroleum and products
do

' 966, 008 •• 945, 753

' 929, 967

r

894, 449

r

880, 376

»• 721, 206

•" 833, 568

76, 227
69, 457
55, 326
39, 758
40, 225
' 26, 035 ' 40, 409
235, 728 ' 226, 954 229, 332 r 158, 167 ' 143, 779
270, 121 r 242, 745
' 181, 575 ' 189, 573 ' 179, 867 r 176, 482 161,084 r 146, 416 r 147, 819
202, 106 r 191, 899 r 189, 588 r 192, 507 171,896 «• 218, 308
191, 769
r
118, 278 «• 99, 429
•• 95, 510 r 100, 529 ' 84, 507 •• 75, 948
r 90, 174
' 201, 795 207, 582
171, 637
161, 137 ' 172, 721 142, 743 •• 193, 079
19, 652
15, 202

12, 936
' 12, 697

58, 351
43, 294
2,722
38, 003
17, 121
19, 751
31, 165

62, 048
' 24, 551
2,886
32, 117
26, 810
19, 526
30, 382

26, 390
18,217
13, 229
2,207
42, 598

28, 066
21,414
10, 967
1,625
45, 712

268
8,561

5,161
14, 390
49, 933
36,315
2,062
36, 320
16, 557
17, 236
25, 501
r

789
7,851

22, 859
52. 373
2,242
32, 401
15,013
24,911
23, 374

21, 375
24, 668
12, 475
2,790
38, 701

r

39, 265
39,001
1 , 634
24, 394
18, 246
29, 665
22, 302
r

21,239
25, 375
9, 763
2,014
44,311

189, 287
248, 398
11,970
54, 670
10,815
37, 203
39,117
r
26. 070
26, 733

r

•• 886, 975

r

299, 779
293, 043
337, 649 »• 297, 658
' 159, 590 ' 171, 156 <• 147, 563 r 136, 449
91, 544 r 92, 570
92, 926
89, 546
221, 239
216, 715 198,969
«• 216, 041
165, 588
' 163, 183 164, 156 r 158, 015

r
r

r
405, 553
' 479, 068 r 452, 405 428, 166
100, 701
90, 657
86, 897
96, 645
13,038
13, 399
15, 187
10, 858
r
52, 026
69, 369
87, 733
73, 232
1,216
1,287
1,035
1,626
39, 717
33, 985 r 32, 399
38, 655
r
70, 964
84, 690
48, 000
105, 037
' 486, 940 ' 493, 347 «• 486, 475 «• 481, 422
16, 638
8,537
8,913
7,503

r

202, 098
191, 604
' 303, 331 r 291, 558
29, 975
32, 845
64, 456
68, 528
27, 584
22, 076
r
19, 250
27, 176
41, 289
33, 026
29, 124
26, 373
25, 866
30, 966

' 191, 748
251, 109
16, 805
65, 068
15, 557
26, 894
34, 073
23, 951
27, 294

r

r

914, 641

r

r

69,182
21,909
13,297
29, 240
39, 356
' 51, 428

57, 425
23, 308
8, 036
38, 598
43, 525
52, 425

71 , 740
24, 457
12, 930
44, 995
41,361
' 52, 783

67, 450
23, 493
13, 090
42, 181
42, 994
48, 447

r

893,004

16, 332
18, 452
9, 502
1,141
33, 228

r
r

r

r

171, 259
208, 149
8,221
62, 976
13, 863
22, 851
34, 512
20, 554
22, 208

•• 746, 018

289, 229
144,008
88, 418
204, 965
166, 383

413, 048
87, 990
14, 540
76, 837
1,625
38, 043
57, 856
* 479, 956
8, 061

p

78, 193
30, 744
10, 251
r
35, 297
47, 695
44, 664

7,105
32, 228
1,241
17, 487
12,
297
r
19, 689
19, 201
r

r
r

r

r

r
r

r

•• 800, 424

37, 660
r
146, 597
r
157, 343
r
199, 684
r
88, 491
r
188, 689

•• 34, 967
r
151, 797
r
152, 982
r
190, 050
r
93, 180
r
177, 449

812
11, 002

1,063
6,470

660
9, 699

14,919
27, 878
1,136
r
19, 989
14, 369
r
19, 389
r
17, 381

r

24, 812
21,183
10, 698
3, 259
39, 499

192, 194
r 244, 522
10,486
r
65, 706
18, 247
r
33, 563
40, 381
18,885
25, 827

275
5, 472

«• 818, 464

15,455
20, 321
8, 909
3,311
33, 436

r
T

r
r

r
r
r
r
r

68, 441
172, 961
175, 945
187, 047
127, 586
189, 645

22, 486
16,907
4, 725
19,317
15, 021
r
20, 075
15, 858

9, 616
26, 479
2,719
19, 062
15, 894
17, 297
15, 882

r

15, 172
' 14, 809
12,953
2, 251
T
35, 445

13, 635
17,003
12, 364
3,088
r
40 318

r

68, 605
183, 051
153, 836
177, 067
131,814
177, 895

75 854
205, 720
169 630
195 588
138, 086
177, 651

16, 453
11 844

18,907
10 066

13, 397
12, 832

r

8, 518
38 536
4,902
2*> 437
17. 772
29 704
14, 785

16, 605
39, 366
5,068
27, 960
14, 520
23,281
17, 213

12, 293
65, 314
4,911
22, 905
18, 593
21,921
21, 284

20 364
17, 509
11,321
1,150
39 013

14, 737
15, 999
13,019
506
31, 127

13, 940
16,432
12, 593
3,166
39, 917

r

177, 063
287, 913
7,309
80,426
13, 502
33, 952
32, 480
36, 177
29, 889

195, 490
292, 735
9,884
74, 507
20, 317
28, 329
41,927
39, 685
30, 856

r

901, 031

971,630

269, 834
207, 047
r
75, 511
186, 323
' 162, 316

300, 122
193, 305
92, 714
216,172
169, 317

439, 207
153, 943
4,027
73, 821
2,728
29 394
33, 648
461, 823
6,352

434, 935
138, 108
4,238
80, 730
2,504
43, 382
33, 850
536, 696
8,106

75 677
22, 285
5,516
31, 727
43, 246
53, 717

132, 573
27, 393
22, 370
29, 326
44, 960
55, 321

30, 896
16 269
11, 734
5,688
1 520
799, 871

33, 363
19 142
13, 039
5, 681
1 733
926, 746

217, 924 «•r 199, 668 »• 190, 045 ' 187, 046
264, 926
260, 158 ' 249,
594 r 293, 254
r
6, 643
6, 843 r T 7, 912
8, 294
r
85, 000
83, 440
89, 607
69, 828
-'r 18, 437
18,
197
'11,693
22,
246
34, 307 rr 34, 611 r 36, 596
42 Oil
r
35, 509
31,421
13,
325
30,
577
r
r
26, 426
27, 152 r 32, 849
41,169
27, 014
30, 119
25, 822
33, 927

••872,459 ' 826, 931 ' 800, 271 •• 914, 896
r
r

237, 610 ' 256, 985 ••213,015
216, 336
122,010 r 166, 932 r 184, 843
187, 540
76, 220
«93,
424
'
80,
727
«•
58, 588
169, 268 r 192, 616 r 183, 276 r 183, 515
140, 909 r 162, 502 r 165, 070 ' 154, 292

333, 763 r 389, 202 r 378, 805
80,719
117,074
127 025
r
' 14, 220
9,757
5, 828
T
59, 282
54 489
52, 906
2,003
2, 549
2, 059
30, 063
30 207
24 379
r
r
34, 142
42, 153
30, 583
r
412, 255 ' 483, 258 r 448 126
r
r
5, 406
7,515
5, 860
57 997
25, 671
5, 860
31 191
38, 758
43, 122

' 921, 625 •• 892, 267

r 70 349
r
23, 344
14, 287
r
S6 403
50 009
51, 081

r 59 782
21 814
r
4, 156
31
025
r
47 951
48 415

T
T

T

269, 233
193, 779
r
79, 333
r
205 092
167, 459

360, 365 r 437, 299
138, 847
134 047
5,154
5,493
43, 997
80 393
1,730
3,865
7, 566
25 987
35, 21 5
37, 906
439,
906
••477
597
r
9, 536
6,571
r

r

65 168
19, 871
7, 871
30, 479
44, 799
48, 103

r
r
r

r

r
r

r

r

65 594
28, 638
2,552
33 447
42, 230
60, 458

935, 100

TRANSPORTATION AND COMMUNICATIONS
TRANSPORTATION
Airlines
Operations on scheduled airlines:
32, 229
30, 813
29.318
29, 085
32, 551
31, 529
Miles flown revenue
thousands
19, 085
15, 543
18, 111
17,173
17, 909
17 853
Express and freight carried
short tons
11,902
10,
327
9,739
11,
287
11,318
11,165
Express and freight ton-miles flown thousands
5, 035
4,805
4,612
4,541
5.029
4,938
Mail ton-miles
flown
do
1,804
1, 866
1,708
1,861
1 960
1 895
Passenger^ carried revenue
do
859, 130
922, 856
914, 367
834, 685
956, 974
934, 584
Passenger-miles flown revenue
do _
Express Operations
18, 895
17,852
18, 769
17, 172
17, 389
17 845
Operating revenues
thous of dol
d
6
*2
24
IS
76
146
Operating income
do
Local Transit Lines
10. 5645
10. 5231
10. 5231
10. 6010
10. 6642
Fares, average cash rate
cents.. 10.4818
1,105
989
1,048
1,117
1,012
Passengers carried, revenue
_
millions
1,016
125, 700
127, 300
120, 500
117, 300
124, 800
114, 800
Operating revenues
thous of dol
Class I Steam Railways
Freight carloadings (A. A. R .)•'(?
2,992
3,291
3.233
4,039
4, 142
3,152
Total cars
thousands
537
444
589
546
710
755
Coal
__
do
65
61
83
63
66
79
Coke
_ _ _
_
_ _ _ do
241
197
194
168
Forest products
do
193
227
178
212
198
216
Grain and grain products
__ _ _ _ _ d o
254
217
34
34
33
34
27
69
Livestock
do
452
216
330
356
422
Ore
_ _ _ _ _ _
_ do
361
324
309
366
268
368
296
Merchandise, 1. c. 1
_ _
do _
1.582
1,454
1.937
Miscellaneous. . ..
_
_
do
1.580
1.533
1.967
r
d
Revised.
Deficit.
©Including Manchuria beginning January 1952.
cf Data for June, September, and December 1951 and March 1952 are for 5 weeks; other months, 4 weeks.




32, 144
19 106
12, 203
5,717
1 878
919,952

30, 290
17 783
11,492
5, 993
1,664
812, 028

30, 973
19 121
12, 444
7,966
1 571
834, 298

32 221
18 484
11 911
5 871
1 576
851,723

18, 273
37

18, 725
65

22 746
44

°0 1-13

20 061
97

10. 6813
1,103
130, 200

10. 7032
1,072
127, 800

10. 8224
1, 105
139 200

10. 8808
1 071
128, 500

11. 0560
1,012
123, 900

11.0852
1,009
126, 500

11. 1922
1.060

3,478
653
64
189
219
73
312
304
1.664

3,155
642
66
175
210
51
202
285
1. 524

3,522
760
82
198
240
46
118
331
1.747

2 828
627
66
165
197
34
70
263
1. 405

2 886
587
65
172
195
33
76
294
1.463

3,624
686
79
218
234
37
105
377
1.888

2 912
498
53
175
162
36
211
297
1.480

T

SURVEY OF CURRENT BUSINESS

June 1952

Unless otherwise stated, statistics through
1950 and descriptive notes are shown in the
1951 Statistical Supplement to the Survey

S-23
1952

1951

April

May

June

July

August

September

October

November

December

January

February

March

April

TRANSPORTATION AND COMMUNICATIONS—Continued
TR AN SPORT ATION— Con tinued
Class I Steam Railways-— Continued

Freight carloadings (Federal Reserve indexes):
133
Total, unadjusted
_ 1935-39= 100__
112
Coal
do
193
Coke
_
do
156
Forest products
do
139
Grain and grain products
do
61
Livestock
do
193
Ore
do
51
Merchandise, 1 . c . 1
_ _ _ _ _ _ _ do
149
Miscellaneous
do
136
Total, adjusted
_
_ . do _ _
112
Coal
do_ __
197
Coke
_
do
156
Forest products
do
158
Grain and grain products
do
68
Livestock
_
do
212
Ore
do
51
Merchandise, 1. c. 1
~ do
151
Miscellaneous
do
Freight-car surplus and shortage, daily average:
8,601
Car surplus total
number-24
Box cars
-_ do
2,812
Gondolas and open hoppers
do
14, 603
Car shortage, total
do9,484
Box cars
do
3,815
Gondolas and open hoppers _
do___
Financial operations (unadjusted):
Operating revenues total
thous. of dol r••838,599
709, 866
Freight
'
do
r
66, 504
Passenger
_ _ _ _ _ do
r
657,
733
Operating expenses
do
Tax accruals, joint facility and equipment rents r
112,
148
thous. of dol_. r
71, 236
Net railway operating income
do __
44,
685
Net income^
do
Financial operations, adjusted: §
872.7
Operating revenues total
mil. of dol
738.6
Freight
do_ __
69.1
Passenger
do
799.7
Railway expenses
__
._ do
73.1
Net railway operating income
do
40.7
Not income
do
Operating results:
56,908
Freight carried 1 mile
mil. of ton-miles
1.337
Revenue per ton-mile
cents
2,583
Passengers carried 1 mile, revenue
millions-

135
111
208
160
124
57
296
48
149
133
111
210
154
141
64
212
48
148

137
120
212
158
125
49
321
47
148
131
120
217
152
123
61
207
47
144

130
97
209
143
156
50
325
44
143
125
97
215
143
130
61
203
45
142

137
122
206
155
151
64
313
47
145
133
122
215
148
140
67
209
47
144

144
130
209
153
148
107
308
48
154
133
130
211
142
132
81
205
46
143

146
134
202
152
154
128
267
48
157
135
134
206
144
154
83
180
46
144

140
140
218
149
156
88
174
47
149
137
140
218
152
159
70
180
46
144

123
127
216
128
135
65
73
43
134
133
127
206
144
143
68
235
44
142

128
133
214
139
146
64
64
44
138
141
133
203
155
146
67
256
46
151

126
120
203
140
137
57
69
47
140
136
120
192
146
140
72
277
49
149

124
111
198
141
12S
53
75
48
142
133
111
196
141
139
66
257
47
149

123
103
163
142
115
65
195
47
139
126
103
166
142
130
73
^212
46
141

8,300
1,203
434
9,858
4,760
3,929

21, 677
15, 463
133
9,721
3,065
5,641

25,062
13, 109
11,928
8,613
2,716
4,873

4,422
1,412
0
18, 154
7,531
9,359

3,640
164
4
14, 902
4,181
9,231

2,593
86
19
19, 045
6,235
10, 168

3,375
203
4
8,586
2,459
5,311

7,855
1, 456
298
3,889
1,201
2,336

11, 255
3,396
1,859
3,906
1,430
2,014

8,185
3,012
2 084
3,992
1 747
1,550

9,264
2,161
1,516
2,621
845
993

17 100
4 108
3 339
1,874
365
857

888, 716
752, 588
70, 657
693, 820

855, 753
710, 732
80, 641
677, 685

816,812
674, 008
80, 602
683, 824

909, 945
758, 759
83, 830
700, 651

855, 929
716, 394
74, 092
660, 408

965, 552
816, 182
71, 129
699, 508

903, 864
743, 296
71, 795
672, 482

902, 695
689, 298
88, 238
649, 044

867, 034
712, 906
82, 343
685, 369

844
704
73
649

966
301
470
687

875, 471
729, 286
74, 077
675, 135

834
689
71
685

119, 977
74, 937
49, 225

114, 138
63, 930
50, 192

91,053
41,935
16, 366

128,412
80, 881
55, 497

119,797
75, 725
50, 255

144, 144
121,900
97, 840

136, 373
95, 008
68, 058

118, 479
135, 172
150, 661

115, 598
66, 067
41 363

119, 385
75 895
49 244

123, 697
76, 639
50, 239

107, 732
70 624

855.1
719.1
71.5
793.5
61.6
30.2

871.3
728.5
77.9
795.4
75.9
44.0

818. 4
682.7
73.9
774.8
43.6
12.9

854.3
712.2
74.8
806.5
47.8
16.0

873.2
734.3
74.4
793.9
79.3
49.5

897.0
751.2
72.7
818.2
78.8
47.2

907.1
745.5
75.1
818.0
89.1
56.3

925.4
727.0
86.6
778.7
146.7
113.9

58, 764
1.342
2,638

56, 643
1.323
3,093

53, 284
1.333
3,190

60, 017
1.326
3,287

58, 131
1.298
2,918

61,838
1.374
2,718

56, 740
1.369
2,697

52, 664
1.372
3, 354

54, 700
1 . 367
3,089

54 089
1 370
2 697

55, 949

9,299
5,216
4,083

10, 161
5,980
4,181

10, 060
5,725
4,334

2,668
1,360

2,695
1,286

2,632
1,170

2,599
1,280

2,774
1,179

2,685
1,210

2,729
1,289

2,571
907

2,915
1,205

2,637
1,004

2 619
1 Oil

3,115
1,130

3,039
1,035

6.36
'80
244

5.79
81
251

6.32
81
252

6.03
75
219

6.68
79
243

6.58
83
246

6.79
85
244

6.83
77
243

6.18
65
218

6.37
242

6 39
79
240

6.24
77
225

6 74
79
251

60, 854
57, 982
1,686
14,537
30, 227
541

51,413
57, 981
1,809
17,945
35, 678
920

58, 967
82, 696
2,211
23, 605
39, 653
2,107

74, 203
86, 087

95, 978
75, 493

86, 849
51, 862

65, 535
46, 549

51,315
44, 084

53, 587
52, 188

50, 857
54, 537

61 682
71 370

17, 943
27,411
3,547

18, 020
24, 670
3,474

19, 001
17. 398
1,681

25, 847
19, 602
842

28, 347
18, 364
353

26, 501
17, 592
216

24, 862
27,374
267

97 $og
336

383

626

805
8,500

766
8,075

850
10, 363

766
9,299

787
9,531

785
9.567

794
9,663

788
9,579

780
9,531

985
12, 072

886
10 808

867
10, 655

312, 404
184, 934
105, 507
216, 413
41, 242
39, 213

318, 790
185, 965
110, 775
226, 647
40, 391
39, 406

318, 428
186,604
109, 396
222, 998
40, 418
39, 555

317, 948
185, 072
110, 185
232, 641
35, 505
39, 707

326, 328
187,231
116,208
235, 864
37,815
39, 889

320, 205
188, 477
108, 331
225, 658
29, 429
40, 066

335, 579
194, 221
117,636
238, 005
38, 970
40, 279

334, 449
196, 380
113, 990
235, 785
39, 647
40, 451

341,381
199, 422
117, 526
242, 793
40, 855
40, 679

339, 151
198, 907
115,814
240, 030
39, 077
40, 127

332, 063
196 952
110 319
231,914
39 702
40 314

345, 353
202, 195
118, 143
238, 954
42, 437
40, 516

15, 014
13, 282
882

16, 235
14, 199
1, 157

16, 072
14, 033
1,173

15, 422
15, 127
*569

16. 360
15,057
456

15, 725
14, 623
371

17, 173
15, 009
1,395

16, 120
14, 679
720

17 423
15, 548
1,317

16 789
15, 191
717

r 15 875
14 328
716

2,215
1, 638
364

2,227
1,736
267

2,149
1,693
241

2,082
1,768
106

2, 142
1,712
224

2,184
1,674
315

2,366
1,665
509

2, 235
1,669
378

2.448
1,730
517

2,199
1,752
236

2 114
1 , 733
192

2,350
1, 895
332

2,491
1,968
394

2,456
1,982
347

2,375
1,974
283

2,455
1.984
365

2,453
1,946
400

2,569
2,022
441

2,532
2,036
388

2,726
2, 156
495

2,669
2 099
443

2,510
2 013
372

135
709
687
6C1

Waterway Traffic
Clearances, vessels in foreign trade:
Total U S ports
thous of net tons
Foreign
do
United States
do
Panama Canal:
Total
thous. of long tons. _
In United States vessels
do
Travel
Hotels:
Average sale per occupied room
dollars
Rooms occupied
percent of total-Restaurant sales index
same month 1929=100__
Foreign travel:
TJ S citizens, arrivals
number
U S citizens departuresc?1
do
Emigrants
_
do
Immigrants
_
..do
Passports issued
do
National parks, visitors
-thousands
Pullman Co.:
Revenue passenger-miles
millions
Passenger revenues
_
__thous. of dol
COMMUNICA TION S
Telephone carriers:©
Operating revenues
thous. of doL_
Station revenues
_ _ do
Tolls, message
do
Operating expenses, before taxes
_ _ do
Net operating income
do
Phones in service end of month
thousands
Telegraph, cable, and radiotelegraph carriers:
Wire-telegraph:
Operating revenues
thous of dol
Operating expenses incl depreciation
do
Net operating revenues
do
Ocean -cable:
Operating revenues
do
Operating expenses, incl. depreciation
do
Net operating revenues
do
Radiotelegraph:
Operating revenues
_
_, do
Operating expenses incl. depreciation
do
Net operating revenues
_
_
do

r Revised.
v Preliminary.
* Deficit.
{Revised data for March 1951, $53,326, 000.
§Discontinued by the compiling agency after December 1951.
cfData exclude departures via international land borders; land-border departures during the 12 months ended June 1950 amounted to less than 1 percent of total departures.
©Data relate to continental United States. Beginning January 1952, data for several small companies, riot previously covered, are included.




SURVEY OF CURRENT BUSINESS

S-24
Unless otherwise stated, statistics through
1950 and descriptive notes are shown in the
1951 Statistical Supplement to the Survey

June 1952
1952

1951

May

April

June

July

August

September

October

November

December

January

February

March

April

CHEMICALS AND ALLIED PRODUCTS
CHEMICALS
Inorganic chemicals, production: |
Ammonia, synthetic anhydrous (commercial)
146, 664
146, 915 132, 158 146, 592
155, 913
147, 508
156, 692
161, 681
short tons.. 147, 560
4,092
900
6,566
6,196
6,792
Calcium arsenate (commercial)
thous of Ib
0)
0)
0)
65, 421
62, 557
65,310
64,514
68,170
71, Oil
67,255
69, 095
69, 730
Calcium carbide (commercial)
short tons.
Carbon dioxide, liquid, gas, and solid©
140, 799
99, 152
131,068
130, 473
157, 590
127. 406
108, 103
84, 823
82, 105
thous. of lb__
209, 024
202, 693
210, 477
215, 729
212,083
224, 250
219, 250
228, 949
Chlorine, gas
short tons.. 200, 298
58, 461
57, 043
57, 111
57, 072
56. 881
56, 005
59, 639
58,222
59,920
Hydrochloric acid (100% HC1)
do
2,670
1,838
318
3,194
818
1, 152
Le'ad arsenate (acid and basic)
thous. of lb._
0)
0)
0)
124, 402
118,132
115, 286
115, 398
124, 304
132, 286
135. 516
123, 996
133, 790
Nitric acid (100% HNOs)
short tons
1,812
1,863
1,829
1,748
1,799
1,934
1,967
1,938
1,824
Oxygen (high purity)
mil ofcu ft
152, 577
157, 086
157, 760
147,392
151, 677
154, 060
153, 463
153, 432
Phosphoric acid (50% HsPO^
short tons
163, 038
Soda ash, ammonia-soda process (98-100%
439, 773
458, 217 434, 399
434, 892
430, 622
374, 204
403, 028
389, 487
419,987
Na2COs)
short tons
11,321
11,858
10,388
11.276
10, 276
11,011
10, 660
10,550
10, 966
Sodium bichromate and chromate
do
262, 881 252, 282 256, 713
252, 169
272, 799
259,727
275, 224
269, 387
262, 683
Sodium hydroxide (100% NaOH)
do
Sodium silicate, soluble silicate glass (anhy45, 132
47, 602
41,210
42,666
43, 268
35, 730
49, 485
48, 116
46, 978
drous)
short tons,.
Sodium sulfate, Glauber's salt and crude salt
83,339
77, 452
69, 408
81, 196
72, 396
74, 974
80, 037
81, 120
75,057
cake
short tons__
Sulfuric acid (100% H 2 SO 4 ):
1, 133, 353 1, 151, 068 1,066,421 1, 077, 216 1,074,257 1, 046, 075 1,099,964 1,130,831 1, 179, 263
Production
do
Price, wholesale, 66°, tanks, at works
20.00
20.00
20.00
20.00
20.00
20.00
20.00
19.90
dol. per short ton_.
20.00
Organic chemicals:
Acetic acid (synthetic and natural), production
43, 224 ' 39, 458 40, 778
42,176
34, 874
39, 309
35, 262
37, 952
thous. of lb._
43, 767
84, 358
88,816
82, 968
67, 032
86, 343
71, 798
86, 070
86, 306
85, 593
Acetic anhydride production
do
1,283
1,078
1,007
945
952
1,056
799
1,046
1,134
"\cetylsalicylic acid (aspirin) production do
Alcohol, ethyl:
46, 173
37, 740
35, 767
40, 945
39, 732
35, 563
47, 336
40, 477
44, 599
Production
thous. of proof gal_.
91, 087
71, 001
99,684
101, 244
101, 740
89, 377
103, 927
91, 184
107, 722
Stocks, total
do
In industrial alcohol bonded warehouses
72, 221
74, 411
71,103
66, 465
59, 298
77. 190
61, 803
thous. of proof gal. . 62, 087
73, 525
18, 866
8,914
25, 273
30, 636
24,054
37, 462
30, 079
29, 381
34, 196
In denaturing plants
do
52, 914
52,564
43, 611
39, 924
43, 362
42, 072
43, 655
45, 582
42, 509
Used for denaturation t
--- &®
1,721
2,051
1,178
3,595
2,258
3,161
3,016
2,417
3,033
Withdrawn tax-paid
do____
Alcohol, denatured:
28,204
28,063
21,421
23, 322
23, 348
23,723
24, 415
22,464
22, 757
Production
_ _ thous. of wine gal_.
21,993
27, 498
22, 392
23, 740
22, 381
27, 232
21, 944
24, 186
21 , 030
Consumption (withdrawals)
do
8,714
8,944
8,795
10, 252
9,762
6,645
8, 333
7,477
10, 875
Stocks
..do_- _
12, 708
12, 971
11,186
11, 822
12, 051
11,677
12, 301
11, 293
11,783
Creosote oil, production
thous. of gal.
9,235
10, 463
5,441
5,697
8,144
7,315
6,479
3,887
6,134
Ethyl acetate (85%) production
thous. of lb._
Glycerin, refined (100% basis) :
High gravity and yellow distilled:
7,882
7,603
6,061
6,314
3,661
5,529
5,129
4,849
5,416
Production
..
thous. of lb_.
8,211
6,072
7,541
5,677
6,405
7,173
6,718
5,087
6,976
Consumption
_do__ _
19, 026
15, 556
14, 735
18, 820
15, 623
15, 284
18, 664
17,297
16, 165
Stocks
do ..
Chemically pure:
13,299
11, 098
10, 540
11,747
9,681
10, 575
6,970
11, 078
10, 676
Production
do
6,714
8,263
7,874
7,473
7,003
6,324
7,305
6,407
6,947
Consumption
do
25, 943
26, 524
27, 411
27, 399
26,884
24, 914
27, 787
24, 883
25, 483
Stocks
-do
Methanol, production:
172
159
193
160
176
175
180
180
115
Natural (100%)
thous. of gal__
14, 614
15, 431
15, 278
15, 950
16, 503
14, 759
14, 845
17, 224
15, 536
Synthetic (100%)
do
21, 141
18,883
21, 773
19, 926
21, 437
19, 678
21, 524
20, 694
21, 241
Phthalic anhydride, production
thous. of lb_.

158. 848

0)

72, 178

151, 632
0)
67,788

172, 099
0)
67, 974

88,124 '91,614
94, 562
215, 570
229, 472
230, 271
60. 191 ' 57, 966 58, 868
3,100
3,040
3,970
140, 976 ' 128, 978 144, 696
' 2, 008
2,157
2,019
165, 720
151,922 «- 151, 684
337, 710
9,722
247, 734

372, 529
8,590
271, 233

45, 705

43, 599

46, 852

72, 078

67, 363

74,964

1,165,356 '1,131,289

1,174,836

20.00

20.00

20.00

37,711
59, 358
1,185

30, 261
45, 887
1,073

29, 138
42, 711
1,178

42,253
94,742

42, 421
94, 645

41,129
95, 360

33, 857
95, 685

58, 960
35, 782
48, 919
1,992

58, 971
35, 673
44, 935
1,788

54, 937
40, 423
40,922
1,861

53, 726
41, 959
34, 108
1,755

26, 106
24, 752
10, 476
10, 635
4,359

24, 060
21,388
13, 608
11,559
4,160

21,914
21,491
14, 035
13, 457
5,470

18, 368
20, 282
12, 093

6,192
5,798
16, 219

5,647
5,521
17, 447

6,745
5,617
18, 104

6,770
6, 385
17, 578

11, 529
7,976
26, 582

11,113
7,219
26, 685

11, 704
7,398
28,107

12, 528
7,040
29, 435

192
14, 226
18,844

173
13, 756
19, 462

185
13, 951
21, 519

1,153
1,348
214, 991
201,552
28, 775
20, 560
154,761 ' 161, 570
7,619
9,056

1,827
191,261
10, 802
163, 553
7,469

367, 380
11,224
263, 320

20.00

FERTILIZERS
'1,402
244, 818
17, 176
201, 917
13, 407

994
285, 768
27,532
238, 165
7,286

509
217, 760
23,433
176, 300
8,812

302
' 307, 411
25, 762
' 269, 841
9.049

349
297, 010
13. 139
259, 668
11, 585

494
235, 053
16, 570
183, 344
14, 197

708
315, 160
26, 483
267, Oil
8,854

742
220, 305
27, 772
130, 159
6,772

604
' 209, 754
27, 632
' 145, 546
5,433

283,809
Imports, tota$_
do
212, 781
Nitrogenous materials, total
do
94, 291
Nitrate of soda
.
do
8,918
Phosphate materials
do
31, 105
Potash materials
. do _ _
Price, wholesale, nitrate of soda, crude, f. o. b. cars,
53.50
port warehouses
_. _ .. dol. per short ton
115,369
Potash deliveries
short tons.
Superphosphate (bulk)'d1
1,057,492
Production
do
938, 648
Stocks, end of month
_ _
do

282, 314
226, 829
98, 278
7,936
23, 122

215, 065
137. 981
74, 874
14, 594
47,929

151,837
79, 692
33, 065
7,871
52, 158

194, 530
128,011
58,487
17,154
37, 152

147, 137
89. 105
41, 768
10, 798
37, 708

r 190, 328
'121,424
53, 401
'1,426
54, 721

155, 601
105, 877
36, 395
9,210
28, 131

168, 737
101.457
41,780
14, 797
44, 934

' 220, 107
' 152, 137
54, 651
8, 588
50, 133

269, 647
165, 806
72,814
17, 751
69, 518

257, 555
186. 622
59, 960
21,551
27, 731

53.50
110, 777

53.50
101, 663

53.50
106, 134

53.50
112,498

53.50
113.326

53.50
114,311

57.00
119, 074

57.00
121,535

57. 00
114, 903

57.00
123, 582

57.00
140. 625

1,036,724

877, 081
919, 900

822, 116
1,095,216

850, 009
l,240,21o

811.543
1,268,280

923, 966
1,245,504

954, 651
893, 639
1,183,481 1,163,982

962, 247
1,293,588

Consumption (14 States)§
Exports, total
Nitrogenous materials
Phosphate materials
Potash materials

thous. of short tons_.
short tons-do
do __
do _

832, 284

1,819

57.00
125, 600

1,033,449 '1,101,454 1, 142, 523
1,217,295 '1,046,710
901, 808

NAVAL STORES
Rosin (gum and wood) :
569, 450
Production quarterly total
drums (520 Ib.)
579, 940
392 400
507 600
Stocks, end of quarter
.
_ _ do _ _ _
601,000
722, 580
665, 530
748, 700
Price, gum, wholesale, "WG" grade (Sav.), bulk
2
9.07
8.90
8.90
dol. perlOOlb..
8.67
8.90
8.23
8.33
9.40
9.40
'9.40
28.70
9.40
8. 55
Turpentine (gum and wood):
193, 220
195, 260
Production, quarterly total
bbl. (50 gal.)__
167, 540
127 940
152, 490
179, 300
197, 630
Stocks end of quarter
do
194,450
.92
.79
.68
.75
.78
.73
Price, gum, wholesale (Savannah).. dol. per gal..
.80
.80
.80
2.66
.80
.76
2.61
' Revised.
1 Not available for publication.
2 New York price.
{Revised data for January-October 1950 are available upon request.
©Revised beginning January 1951 to exclude amounts produced and consumed in the same plants manufacturing soda ash.
t Revised series. Data shown prior to the November 1951 SURVEY represent alcohol withdrawn for denaturation.
§Figures exclude data for Virginia; effective January 1951, this State reports quarterly. Data for Virginia (thous. short tons): 1951—January-March, 296; April-June, 286; July-September
91; October-December, 111; 1952—January-March, 322.




SURVEY OF CURRENT BUSINESS

June 1952

Unless otherwise stated, statistics through
1950 and descriptive notes are shown in the
1951 Statistical Supplement to the Survey

S-25
1952

1951

April

May

June

July

August

September

October

November

December

January

1,164
53, 297

1,325
55, 512

February

March

April

CHEMICALS AND ALLIED PRODUCTS—Continued
MISCELLANEOUS
Explosives (industrial), shipments:
Black blasting powder
High explosives
Sulfur:
Production
__ Stocks
_
- -

thous. of lb_
do

936
59, 128

743
63,285

787
60, 687

768

56, 451

946
65, 264

1,276
62, 425

1,610
68, 033

1,591
62, 244

842
57, 659

1,193
59, 669

706
61, 905

438, 843
421, 116
448, 842
458, 025
462, 701
433, 871
412, 481
445, 014
long tons- 419, 312
435, 828
454, 960
459, 805
418, 655
2, 750, 305 2, 711, 267 2, 719, 821 2, 669, 635 2, 665, 801 2, 754, 129 2, 782, 423 2, 805, 902 2, 837, 432 2, 851, 214 2, 883, 571 2, 850, 666 2, 808, 368
do

FATS, OILS, OILSEEDS, AND
BYPRODUCTS
Animal fats, greases, and oils:t
Animal fats:
326, 209
308, 257
297, 887
279, 284
Production
thous. oflb__ 308, 408
281, 549
378, 755
398, 619
327, 893
117, 406
117, 213
101, 144
72, 754
103, 387
98, 302
Consumption, factory
- do
96, 644
116, 026
112 690
261, 037
266, 198
273, 326
277, 129
Stocks end of month
do
258, 887
269 893
303 436
270 761
261 850
Greases:
48, 086
54, 892
52, 630
47, 222
Production
_ __
do _
46, 862
54, 642
58, 013
56, 659
49, 801
47, 750
48, 118
40, 841
41, 551
42 189
28, 110
44 277
Consumption factory
do
46 782
42 855
86, 779
94, 507
104, 574
101, 780
113, 378
110, 682
103, 919
100, 465
Stocks, end of month
do
113, 712
Fish oils:
890
9,189
19, 082
25, 463
18, 789
2, 305
Production
do _
25 240
16, 612
2 297
11, 543
10, 443
10, 194
10, 918
11, 508
9,089
8,925
9,993
11, 477
Consumption, factory
- - do _
45, 921
62, 053
79, 494
97, 846
102 999
75, 111
104 219
96, 437
109 630
Stocks end of month c?1
do
Vegetable oils, oilseeds, and by products :J
Vegetable oils, total:
428
420
371
396
440
616
552
Production crude
mil. of lb__
330
604
434
398
342
358
377
484
277
487
478
Consumption crude, factory
do
Stocks, end of month:
1,051
1,021
1,062
1,028
1,251
1,202
1,005
1,100
1,026
Crudecf
- do __
455
442
400
250
329
292
436
368
255
Refined
do
61, 234
61, 065
97, 151
83, 367
74, 267
52, 833
58, 618
Exports
thous. of Ib
83 843
r 68, 101
r
r
36, 723
45, 093
30, 308
27, 157
19, 647
36 491
33, 087
35 813
28 433
Imports total
do
4,619
1,674
7,677
442
2, 285
2,415
1,245
2,869 r 3,989
Paint oils
do _
r
32, 104
37, 415
28, 634
24, 872
18, 402
32, 502
35, 371
30, 218
All other vegetable oils _ _
do
26, 019
Copra:
29, 539
33, 340
38, 365
26, 769
22, 047
28 859
Consumption factory
short tons
37 219
37 297
35 774
34, 241
22, 926
20, 732
21 546
26, 334
Stocks end of month
do
25 462
21,161
21 643
21 063
31, 621
28, 100
21, 716
29, 661
35 147
31, 978
41 Oil
46, 183
Imports
do
31 787
Coconut or copra oil:
Production:
42, 026
49, 264
35, 112
37,410
36, 929
27, 903
Crude
thous. of Ib
47 172
48, 133
44 976
28, 277
26, 499
23, 224
22, 714
24, 983
17, 645
28, 028
28, 270
26, 578
Refined
- do
Consumption, factory:
48, 214
45, 747
39, 206
28, 911
39, 645
36, 159
44, 475
45, 564
Crude
_ _ do _
39, 710
27, 626
25, 060
24, 108
15, 631
22, 336
22 459
20, 254
27 305
25, 348
Refined
do
Stocks, end of month:
106, 153
94, 075
74, 804
92, 073
85, 024
61, 932
84, 528
85, 006
Crudecf
-do __ 101, 745
10, 239
8, 469
10, 336
9,322
8,839
7,207
6,995
8,342
6 809
Refined
- - - do __
12, 696
7,018
12, 045
9,493
5,701
3,825
3,899
Imports
do
5 362
9,718
Cottonseed:
24
15
15
1,054
1, 006
68
598
Receipts at mills
thous. of short tons__
556
1,587
164
96
117
72
541
653
Consumption (crush)
do
776
838
199
244
142
70
Stocks at mills, end of month
_ do
935
1,705
1,881
66
1, 935
422
Cottonseed cake and meal:
74, 216
48, 437
43, 989
303 841
32, 880
250, 122
387 447
361 949
Production
short tons
92 222
105, 949
94, 795
89, 767
71, 645
70, 841
72, 854
60, 316
55, 430
Stocks at mills end of month
do
57 343
Cottonseed oil, crude:
54, 719
38, 305
34, 127
244, 053
166, 505
24, 271
257, 819
206, 005
Production
thous. of Ib
60 200
48, 528
22, 329
152, 672
30, 018
20, 121
184, 843
90, 010
186, 292
Stocks, end of month
_ __ _ _ _ do_ _
29, 133
Cottonseed oil, refined:
65, 744
54, 149
35, 473
24, 446
96, 085
182, 865
186, 793
173, 826
Production
_ _ do _
40, 499
62, 876
63, 388
64, 12J
100, 550
63, 465
125, 071
122, 100
118, 578
97 735
COP sumption factory
do
18, 355
19, 644
32, 583
19, 203
21, 210
36,816
35, 335
30 583
35, 858
In oleomargarine
do
102, 715
231, 652
194, 120
226, 997
147, 024
154, 868
279, 881
225, 137
Stocks, end of month
- do
98, 103
.323
.305
.241
.248
.218
.217
.218
.213
Price, wholesale, drums (N.Y.)*___dol. per lb__
.220
Flaxseed:
2 33, 802
Production (crop estimate)
thous. of bu
Oil mills:
3,376
3,484
3,700
2,581
2,810
3,022
2,854
3,149
2,943
Consumption
do
5,579
5,245
5,565
3,654
5,844
4,429
3 259
Stocks, end of month
do
6 831
7 098
4.68
3.68
3.42
3.83
4.56
4.33
Price, wholesale, No. 1 (Minn.)
dol. per bu__
3.41
4.16
4.40
Linseed oil, raw:
67, 511
74, 079
70, 002
63, 396
52, 120
Production
thous. of Ib
57, 057
59, 964
54, 981
60 500
61, 588
59, 405
44, 027
42 363
60, 826
46 650
46 173
Consumption factory
do
52 352
50 091
605, 329
620, 535
623, 490
633, 674
634, 748
635, 184
652, 696
Stocks at factory, end of month _
do _
640, 760
638, 785
.235
.212
.242
.201
.181
.209
Price, wholesale (N. Y.)
dol. per lb__
.169
.197
.159
Soybeans:
2 280, 512
Production (crop estimate)
thous of bu
21,918
17, 842
14, 721
23,036
23, 179
Consumption, factory
_ _ _ _
_ _ do
21, 260
17, 759
18, 797
21, 556
68,052
4,274
58, 356
22, 706
61, 848
53, 983
42, 192
33, 367
9,715
Stocks end of month
_ _
do
Soybean oil:
Production:
224, 834
209, 264
176, 839
148, 658
221, 400
176, 357
214, 799
187, 910
Crude
thous. of lb__ 212, 077
180. 217
139, 124
130, 391
149 822
163, 260
143 782
120 792
154 263
136 668
Refined
do
141,
076
134, 597
147, 351
Consumption, factory, refined
do
157, 851
116,315
127, 916
134, 518
136, 660
148, 240
Stocks, end of month:
125, 870
124, 800
107, 383
121, 135
116, 683
90, 907
197 346
Crude
do
107 993
164 529
129, 607
119,641
75, 261
113, 715
Refined
do _
95, 343
79, 870
73, 602
83, 920
85, 236
.278
.225
.195
Price, wholesale, edible (N. Y.)
dol. p e r l b _ _
.258
.199
.179
.191
.190
.206
r
1
2
Revised.
Includes stocks owned by Commodity Credit Corporation.
December 1 estimate.
^Revisions for 1950 for production, consumption, and stocks will be shown later.
cf Beginning with September 1950, data included for sperm oil, crude palm, castor, and coconut oil are on a commercial stocks basis.
*New series. Compiled by the U. S. Department of Labor, Bureau of Labor Statistics. Data prior to February 1951 will be shown later.




417, 530
121, 909
327, 037

388, 109
121,614
329, 625

58, 919
45, 248
103, 801

r

365, 093
119, 944
325, 955

350, 058
117 906
329 408

58, 217
42, 173
105, 938

52, 114
40, 075
100, 536

50, 357
37 913
105, 411

900
9,840
82, 084

169
8,578
73, 295

298
9,429
73, 055

5,141
9,451
68 538

584
529

522
509

483
482

430
487

1,279
504
39, 913
39, 332
1,886
37, 446

1,287
556
58, 899
24 878
2,050
22, 827

' 1, 275
'589
61, 395
24, 596
2, 563
22, 032

29 807
27 492
34 681

30 476
25, 202
36 287

26 367
20, 923
25, 848

32 794
11,952

37, 492
31, 625

38, 132
27, 987

33, 176
30, 494

41, 626
31,011

47, 698
27, 486

42, 364
25, 099

45 222
26, 727

48, 037
28 085

82, 279
9, 863
7, 173

82,143
9,103
1,767

81. 387
9,013
3,731

79, 869
8,961

322
688
1,515

163
545
1,180

55
433
802

22
306
518

319 884
56, 737

253 208
56, 176

201, 182
47, 336

146 191
46 396

218,547
188, 644

176, 041
174, 795

143, 727
162, 209

106, 633
131, 709

164, 076
136, 955
117, 870 T 107, 399
35, 623
28, 019
383, 410 r 1 413, 893
.220
.190

123, 723
106 108
28. 523
1
432, 135
.180

185, 037
135 226
44, 497
1
336, 814 i
.203

1,205
630

2,298
6,407
4.54

2,243
5,547
4.23

2,196
4 430
4.16

1,897
3 608
3.93

46, 857
40 462
652, 657
.210

44, 020
41, 734
659, 688
.195

45, 707
43 661
' 659, 383
.186

38, 953
44 651
646, 589
.176

24, 046
50, 901

rr 22, 457
49, 430

234, 386
179 073
159, 187

222, 247
180, 626
168, 379

230, 950
97, 092
.165

240, 510
103, 120
.155

r

r

' 21, 540
42 708

20, 129
32 307

218, 381
183 469
164, 911

204, 138
198 641
171, 062

245, 027
109, 459
.150

224 072
130, 234
148

SUEVEY OF CUKRENT BUSINESS

S-26

June 1952

1951

Unless otherwise stated, statistics tlircmgh
1950 arsd descriptive notes are shown, in the
1951 Statistical Supplement to the Survey

April

May

June

July

August

1952
September

October

November

December

January

February

March

April

CHEMICALS AND ALLIED PRODUCTS—Continued
FATS, OILS, ETC.— Continued
Vegetable oils, oilseeds, etc. — Continued
Oleomargarine:
Production
thous. of Ib . . 71, 393
Stocks (factory and warehouse) _
do
20, 066
Price, wholesale, vegetable, colored, delivered
.351
(eastern U. S.)*
dol. perlb..
Shortenings and compounds:
98, 840
Production
thous of Ib
152, 844
Stocks, end of month
do

80, 344
17, 959

70, 927
19, 529

69, 436
17, 451

86, 286
17, 022

85, 074
16, 461

98,219
19, 218

94, 979
17, 704

96, 240
18, 830

128, 145
17 485

114,051
24, 951

96, 762
21, 655

101, 136
22, 419

.342

.326

.299

.291

.290

.290

.290

.289

.289

.259

.259

.253

106, 416
151, 602

86, 770
140, 550

80, 203
114, 434

126. 290
104, 682

109, 636
97, 018

136, 469
94, 231

131 721
93, 110

116, 509
101, 441

128 313
94 405

131,040
91,890

128, 912
89, 120

127, 375
93, 408

80, 796

i 113 445
4^ 031
71 414

PAINTS, VARNISH, AND LACQUER f
Factory shipments, total
Industrial sales
Trade sales

thous. of dol
do
do

* 106, 3*6 ' rr110. 938 v 125, 133
41 608 r 41, 594 p 44 415
69, 344 J» 80, 718
64, 778

SYNTHETIC PLASTICS AND RESIN
MATERIALS
Production:
Cellulose acetate and mixed ester plastics:
Sheets, rods, and tubes
thous of Ib
Molding and extrusion materials
do
Nitrocellulose, sheets, rods, and tubes
do
Other cellulose plastics
.
__do
Phenolic and other tar acid resins
Polystyrene
Urea and melamine resins
Vinyl resins §
Alkyd resins §
Rosin modifications
Miscellaneous resins §

_ _

do
do
do
do
do
do
_ do_

3,261
6,707
695
1,044

2,895
6,100
726
1,152

2,892
6,274
749
S87

3,062
5,766
508
801

2,699
5,204
645
1,153

2,668
4,440
398
1,050

2,431
4,564
615
919

1,713
3,382
508
796

2,526
2,894
467
507

2,957
4,243
521
734

37, 586
25, 498
r
24, 342
39, 260
32, 576
10, 805
14, 040

39, 532
27, 236
18, 475
39, 734
32, 008
9,433
16, 140

37, 112
27,115
17, 046
39, 209
32, 176
6,914
15, 661

33, 671
30, 492
13, 823
39, 531
28, 514
6,434
12,523

32, 477
32, 279
16,218
39,111
30, 347
4,601
15, 030

33, 054
30, 372
14 561
39, 154
26, 168
5,643
15,447

41, 142
29, 534
16 179
41,898
27, 394
6,546
16, 146

35, 859
28, 620
14 343
40 596
26, 048
6 883
14, 920

28, 970
26, 4671
12 96
42 028
24, 929
6 729
15, 169

31, 652
27 395
16 005
43 446
28 616
6 592
15,860

r

1, 942
4,178
508
792

1,841
4,380
479
784

28, 731
26 518
14 933
39 245
r
28, 014
T
7 855
13, 163

28, 262
25, 951
15 448
39 208
28, 296
7 502
16, 586

::::::::::

r

:.:

ELECTRIC POWER AND GAS
ELECTRIC POWER J
Production (utility and industrial) , total
34, 431
mil. of kw.-hr__
29, 293
Electric utilities, total
do
20, 283
Byfuels.
do .._
9,010
Bv water power
do
Privately and municipally owned utilities . ...
25, 246
mil. of kw.-hr__
4,048
Other producers
do
5,138
Industrial establishments, total
do
4, 683
By fuels.
.
do
455
By water power.
do
Sales to ultimate customers, total (Edison Electric
26, 002
Institute)
mil. of kw.-hr__
Commercial and industrial:
4,567
Small light and power
do _ 12,876
Large light and power
do
497
Railwavs and railroads
do
6,384
Residential or domestic
do
724
Rural (distinct rural rates)
do
250
Street and highway lighting
do
657
Other public authorities
do
47
Interdepartmental
- __
do_
Revenue from sales to ultimate customers (Edison
458, 908
Electric Institute)
_
__thous. of dol_

35, 136
29, 871
21, 334
8,537

34, 966
29, 840
21,819
8,021

35, 435
30, 392
22, 111
8,281

37, 510
32, 326
24, 510
7,816

35, 296
30, 275
23, 239
7,036

37, 775
32, 441
24, 893
7,548

37, 313
32, 095
24,017
8,079

38, 459
33, 143
24,011
9,132

39, 710
34, 203
24, 302
9 901

36, 768
31,536
22, 075
9,461

38, 568
33, 040
22, 597
10 443

36, 736
31,515
21, 553
9,962

25, 852
4,019
5,265
4,836
429

25, 778
4,062
5,126
4,736
390

25, 974
4,418
5,042
4,701
341

27, 638
4,689
5,184
4,861
322

26, 197
4,078
5,020
4,722
299

28, 224
4 217
5,334
4,993
341

27, 934
4 161
5,217
4,872
345

28, 534
4 609
5 316
4,896
420

29,006
5 197
5 507
5,042
465

26, 717
4 819
5 232
4,766
466

27, 647
5 393
5 529
5 022
506

26, 559
4 956
5,221
4,753
469

25, 467

25, 709

25, 663

26, 725

26, 777

27, 114

27, 481

28, 263

29, 217

28 708

4,482
12,937
465
5,950
707
231
648
47

4,683
13, 098
441
5,812
774
216
637
47

4,875
12 729
422
5,779
952
223
637
47

5,012
13, 493
427
5.810
1,030
245
669
40

5,030
13, 321
413
6,065
980
269
659
40

4,813
13,919
446
6,186
720
302
686
42

4,861
13 779
475
6,712
577
325
713
39

4,976
13 704
527
7,447
521
347
699
43

5 124
13 797
523
8. 170
503
348
717
35

5 048
13 700
4 -'8
7 902
496
318
722
35

451, 676

456, 164

457, 799

469, 300

476, 635

477, 724

488, 495

501, 349

522, 258

514 575

GASd"
Manufactured and mixed gas (quarterly):
Customers, end of quarter, total
thousands
Residential (incl house-heating)
do
Industrial and commercial
do
Sales to consumers total
mil. of therms
Residential
do
Industrial and commercial
do
Revenue from sales to consumers, total
thous of dol
Residential (incl. house-heating)
do
Industrial and commercial
do
Natural gas (quarterly) :
Customers, end of quarter, total
thousands__
Residential (incl house-heating)
do
Industrial and commercial
do
Sales to consumers total
mil. of therms
Residential (incl. house-heating)
do _
Industrial and commercial _
do _
Revenue from sales to consumers, total thous of dol
Residential (incl house-heating)
do
Industrial and commercial
do

8,840
8,228
606
817
503
302

8,230
7,667
557
594
315
269

132, 496
95, 332
36, 057

101, 899
71, 134
29,906

15, 697
14, 431
1,249
10, 484
3,009
7,125
382, 063
205 054
170,256

16, 192
14, 923
1,251
8,666
1,257
6,988
269, 807
107, 811
154, 061

8,044
7,491
549
829
522
290

K

127 909
92, 138
34, 338

17,178
15, 782
1, 378
11 532
3,728
7,413
452, 637
255 866
188 563

' Revised.
» Preliminary.
1 Comparable data for January-March 1951, respectively (thous. dol.): 128,102; 117,025; 132,257.
*New series. Compiled by U". S. Department of Labor, Bureau of Labor Statistics. Data prior to February 1951 will be shown later.
fRevised series. Data are estimated total factory shipments of finished paint, varnish, and lacquer. Figures supersede those shown in previous issues of the SURVEY, which did not
measure total shipments.
§See note "1" in the February 1952 SURVEY and earlier issues regarding changes in classification and coverage beginning with data for January 1951.
^Unpublished revisions for January-July 1950 for electric-power production will be shown later.
c*All sales data formerly expressed in cu. ft. are now published in therms by the compiling source; 1932-49 figures expressed in therms and minor revisions for customers and revenue for
1932-44 will be shown later. Revisions for the first 2 quarters of 1950 are shown in the corresponding note in the October 1951 SURVEY.




SUEVEY OF CURRENT BUSINESS
Unless otherwise stated, statistics through
1950 and descriptive notes are shown in the
1951 Statistical Supplement to the Survey

S-27
1952

1951

April

May

June

July

August

September

October

November

December

January

February

March

April

FOODSTUFFS AND TOBACCO
ALCOHOLIC

BEVERAGES

Fermented malt liquors:
Production
thous of bbl
Tax-paid withdrawals
do
Stocks, end of month
_
do
Distilled spirits:
Production
thous. of tax cral__
Consumption, apparent, for beverage purposes
Tax-paid withdrawals
Stocks, end of month
Imports
Whisky:
Production
_
Tax-paid withdrawals
Stocks, end of month

thous. of tax gal__
do
thous of proof gal
. thous. of tax sal
do
do

Rectified spirits and wines, production, total c?
thous. of proof gal. _
Whisky
.
do
Wines and distilling materials:
Sparkling wines:
Production
thous of wine gal
Tax-paid withdrawals
do
Stocks end of month
do
Imports
do
Still wines:
Production
do
Tax-paid withdrawals
do
Stocks end of month
do
Imports
do
Distilling materials produced at wineries do

7,481
6, 453
10, 921

8,410
7,703
11, 108

8,959
8,182
11, 344

9,009
8,480
11, 383

8,997
8,886
10, 930

7, 032
6,995
10, 522

6,841
6,732
10, 211

6,142
6,410
9,506

6,284
6,077
9,240

6,967
6,442
9,307

6,601
5,601
9,897

7,328
6,099
10, 662

7,440
6,744
10, 891

28, 620

27, 893

25, 832

18, 774

16, 376

22, 214

34, 768

28, 840

19, 382

17, 026

15, 546

15, 009

14, 166

11 674
5, 321
865, 207
1,277

13 035
7,002
884, 516
1,309

13 226
7,273
901, 106
1,463

12 615
7,021
910, 339
1,345

14 688
8,664
915, 424
1,327

16 877
11,252
914, 577
1,766

22 403
15,671
911,925
2,557

15 958
11,058
917,
249
r
1, 880

19 427
7,746
925, 197
1,696

12 038
6,592
932, 563
1,254

12 459
7,746
936, 386
1,210

14 449
9,. 757
940, 071
1,518

8, 955
941, 185

14, 727
3,081
731, 674
1 155

15, 912
3,713
742, 589
1 209

13, 273
3,640
751, 233
1 368

9,763
3,686
755, 774
1 243

6,905
5,002
756, 411
1 219

8,158
6,887
755, 457
1 628

10, 322
9,129
755, 041
2 209

10, 831
6,679
756, 521
1 714

10, 463
4,682
760, 803
1 516

9,548
4,095
765, 029
1 129

9,114
4,645
768, 047
1 102

8,648
5. 536
768, 745
1,401

8,045
4,997
769, 763

4,842
3,835

6,066
5,236

5,915
5,243

6,431
5,837

7,843
6,904

10, 375
9,501

12, 609
11,242

9,518
8,502

7,349
6,516

5,094
4,348

6,052
5,394

7.060
6,174

6, 935
6,037

195
53
1,437
38

180
82
1, 525
36

117
84
1,550
50

59
56
1, 546
33

149
71
1,617
38

67
95
1,585
43

46
133
1,484
72

80
173
1,385
115

118
173
1,316
98

141
76
1,365
41

1,367
8,894
150, 513
412
926

1,565
8,409
142, 762
398
467

1,212
8,207
133, 978
363
417

1,036
6,969
127, 386
260
602

4,102
8,573
120, 474
259
8,732

29, 039
9,879
139, 168
269
73, 107

77, 369
11,515
210, 588
424
150, 884

39, 076
12 230
237, 581
538
87, 335

103, 585
32, 207
.670

133, 425
42, 590
.701

142, 305
72, 598
.686

133, 775
104, 405
.675

120, 185
116, 790
.673

95, 900
113, 501
.682

87, 815
94,611
.707

67, 515
59, 349
.740

69, 945
27, 051
.791

102, 405
76, 295
169, 822
144, 441
3,212

133, 755
103, 625
197,412
169, 553
2,639

143, 350
113, 520
234, 608
204, 009
2,757

127, 175
101, 505
262, 540
227, 199
2,454

111, 005
86, 855
269, 564
233, 788
7,419

91, 945
69, 965
272, 053
239, 500
3,588

82, 445
59, 005
259, 415
229, 561
3,288

64, 750
42, 970
232, 968
204,683
4,095

.407

.414

.420

.408

.420

.410

.424

22, 225
4,200
290, 400

36, 000
5,700
388, 500

34, 850
6,200
371, 900

23 750
4.900
315, 300

20 475
4,375
264, 000

15 950
4,200
197, 000

8,298
149, 041

8,527
283, 708

8,796
426, 747

7,905
524, 514

7,171
543, 438

2,961
22, 487

3,306
24, 368

5,664
32, 587

2,466
15, 596

10.80
6.16

10.80
6.16

10.80
6.14

10, 215
3,937
5.05

12,164
5,101
5.01

15, 600
70, 600

2,892
8,393
10, 702
10, 877
231, 616 ' 222, 652
605
391
25, 981
6,654

59
56

55
59

1 352

1,334

27

31

1,368
10 627
210, 209

1.462
11,406
199, 133

292
526

416
456

77, 435
13, 874
.803

77, 250
7,879
.845

'92,030
' 6, 505
.738

103, 720
10, 182
.714

65, 480
43, 130
222, 136
194 784
3,863

68, 760
45, 810
193, 272
167, 824
4,895

70 540
47, 210
166, 040
142 945
3,385

r
85 735
r
58, 465
' 155, 195
'133 815
2,832

102 875
74, 445
158,913
139 436

.431

449

.444

436

14 875
4, 250
166, 500

12 350
4,650
133, 500

14 7^0
6 190
141,700

13 KOO
fi! 550
157, 000

5,878
501 412

6,957
448 008

8,777
357 311

9 185
225 988

3,195
27, 617

2,616
26, 573

1,463
12, 590

1, 124
4 277

10 80
6.12

10 80
6 09

10 80
6 06

10 80
6 05

12, 212
5,334
4.98

11 426
4,845
5.05

10 505
4, 268
5.12

9 145
3,407
5.20

15, 650
101, 100

14, 325
108, 400

13 625
82, 050

9 775
66 900

15, 792
44, 233

19, 181
76, 457

22, 240
110, 408

24, 130
128, 615

5,085
12, 175

5, 348
9,421

6,301
20, 927

.144

.145

.146

DAIRY PRODUCTS
Butter, creamery:
Production (factory) J
thous. of lb_ _
Stocks, cold storage, end of month
do
Price, wholesale, 92-score (New York)_dol. per lb_.
Cheese:
Production (factory) total?
thous. of Ib
American whole milk t
do
Stocks, cold storage, end of month, total__.do
American, whole milk
do
Imports
do
Price, wholesale, American, single daisies (Chicago)
dol per Ib
Condensed and" evaporated milk:
Production: J
Condensed (sweetened):
Bulk goods
thous of Ib
Case goods© _ _
do_ .
Evaporated (unsweetened), case goods. __do
Stocks, manufacturers', case goods, end of month:
Condensed (sweetened)
thous. of Ib
Evaporated (unsweetened)
do
Exports:
Condensed (sweetened) __
do.__
Evaporated (unsweetened)
_
do
Prices, wholesale, U. S. average:
Condensed (sweetened)
dol. per case
Evaporated (unsweetened)
do
Fluid milk:
Production t
mil. oflb
Utilization in mfd. dairy products..
do
Price, dealers', standard grade
dol. per 100 lb_.
Dry milk:
Production: |
Dry whole milk
thous. of Ib
Nonfat dry milk solids (human food)
do
Stocks, manufacturers', end of month:
Dry whole milk
_ do
Nonfat dry milk solids (human food)
do
Exports:
Dry whole milk
do
Nonfat dry milk solids (human food) _ do _.
Price, wholesale, nonfat dry milk solids (human
food), U. S. average
dol. per lb__

r

429

423

1 4 1 00
6 095
164, 850

18 000
7 400
205, 000

20 800
4 500
261, 850

6,585
140 611

7 388
74 505

8 237
76 443

7 299
123 180

1,262
6 048

6,856
5, 731

3 215
7 025

4 729
5 676

10 80
6 08

10 80
6 19

10 80
6 25

10 80
6 34

10 80
6 38

10 80
6 39

8 528
3,060
5.30

7 611
2,378
5.38

7 797
2 477
5.43

8 178
2 706
5.44

r g 170

2 731
5.48

r 9 494
r 3 292
5.46

10 129
3 826
5.33

7 150
45 425

6 115
35 825

4 125
25 930

5 955
35 400

7 325
45 250

6 900
50 345

9 000
67 900

q g^Q
82 300

26, 325
125, 340

25 511
109, 868

23 288
82, 219

19 612
56, 548

17 917
42, 265

16 765
29, 677

14 6^5
24, 327

13 343
34, 566

14 558
54, 691

5, 369
24, 195

4,449
4,196

2 835
2,675

3 836
2,139

5 598
2 994

4 932
2 508

3 663
1 639

3 494
7 QQ8

5 371
4 305

.147

.147

.149

.147

.150

.151

.152

.156

.159

r

.163

FRUITS AND VEGETABLES
Apples:
Production (crop estimate)
thous. of bu_..
i 112 935
3,187
1,703
694
Shipments, carlot __
.no. of carloads..
254
206
r 2 008
1 127
4 163
3 637
2 856
2 449
2 047
1 415
6,931
2,844
Stocks, cold storage, end of month. __thous. of bu._
294
680
293
28, 375
r 5, 983
7,684
28, 000
22, 113
16, 014
10, 753
2,890
11,027
12, 691
10, 459
Citrus fruits, carlot shipments
no. of carloads. _
7,553
7,195
6,332
6,201
7,727
11, 839
r l 1,397
10, 472
11,548
11, 175
Frozen fruits, stocks, cold storage, end of month
418, 666
thous. of lb__ 361, 867
531, 090
573, 708
610, 299
599, 766
571, 229
489, 932 496, 386
465, 137
471, 101 * 466, 735
478, 067
Frozen vegetables, stocks, cold storage, end of
272, 111 270, 206
month
_.
thous. of Ib
290, 321 369, 311 445, 724
515, 766
554 175
592 076 498 340 444 409
398 699 r 348 023
311 643
Potatoes, white:
1
Production (crop estimate)
thous. of bu._
325 708
20, 847
21, 178
Shipments, carlot .
no. of carloads.
12, 931
22, 596
11, 589
12 373
r 24 138
99 04^
18 289
19 079
16 378
18 556
13 324
Price, wholesale, U. S. No. 1 (New York)
4.005
dol. per 100 lb__
4.056
3.733
3.008
3.436
4.171
3.865
4.736
5.540
6.875
6.660
6. 025
5.820
T
!
Revised.
December 1 estimate.
cf Figures beginning July 1951 exclude production of wines and vermouth; for July 1950-June 1951, such production totaled 99 000 gallons
{Revisions prior to November 1950 are available upon request as follows: Beginning 1949 for butter, cheese, and nonfat dry milk solids; beginning 1950 for condensed and evaporated
milk and dry whole milk. Revisions for fluid milk (January 1940-February 1951) will be shown later.
©Figures beginning 1950 represent whole milk only; earlier data cover both whole and skimmed milk.




SUEVEY OF CUEEENT BUSINESS

S-28

June
1952

1951

Unless otherwise stated, statistics through
1950 and descriptive notes are shown in the
1951 Statistical Supplement to the Survey

April

May

June

July

August

September

October

November

December

January

" 48 231

r 54 260

February

March

April

FOODSTUFFS AND TOBACCO—Continued
GRAINS AND GRAIN PRODUCTS
Exports, principal grains, including flour and meal
thous of bu
Barley:
Production (crop estimate)
do
Receipts, principal markets
do
Stocks, domestic, end of month:
Commercial
do
On farms
do
Exports, including malt
do
Prices, wholesale (Minneapolis):
No. 2, malting
dol. per bu
No. 3, straight.
_ __ __
do
Corn:
Production (crop estimate)
mil of bu
Gn'ndings, wet process
thous. of bu
Receipts, principal markets
_
do
Stocks, domestic, end of month:
Commercial
do
On farms
mil of bu
Exports including meal
thous of bu
Prices, wholesale:
No. 3, white (Chicago)
dol. per bu__
No. 3, yellow (Chicago)
_ _ _ do ..
Weighted average, 5 markets, all grades. -do

82, 196

62 034

54 519

41 663

51 689

48 585

40 444

'47 647

1

9,703

6,822

6,819

7,204

22, 135

12, 411

10, 200

11, 518

24, 692

24, 585

23, 361

26, 353

26, 779

2,582

5,266

2,548

28, 254
171 419
4,056

27, 704

6,532

24, 285
40, 196
3,137

1,554

1.625
1.445

1.517
1.365

1.388
1.261

1.283
1.193

1 368
1.264

1 434
1.292

1 542
1.389

10, 893
25, 664

10, 860
21, 914

10, 769
21, 155

9.604
21, 759

10 147
23. 800

9 289
21, 578

61, 636

50, 939

35, 379

32, 559

15, 035

8,895

42, 570
801.3
6,985

6 568

2

2

254, 668
8, 039

9,710

9,481

7,787

7,194

22 042

21,005

19, 160
78, 131

16, 385

1,385

25, 483
124 °87
2,995

930

•• 3, 903

4,024

1.652
1.481

1 . 593
1.440

1 638
1.471

1.549
1.407

1.492
1.331

1.423
1.308

10 424
24, 565

10, 774
33, 948

1 2, 941
9,238
34, 498

10, 858
44, 823

10 002
32, 248

10, 486
27, 248

10, 745

38, 497

47, 299

58, 785

63, 788

61, 849

50, 173

6 015

32. 7*5
?T> 9
4 188

5 161

6 158

1.889
1.799
1.703

1.870
1.774
1.688

()
1.721
1.617

()
1.764
1.667

1 . 854
1.794
1.705

1 . 795
1.801
1.712

1.798
1.782
1.709

1.762
1.828
1.680

8,263

10, 137

7,923

9,930

23, 302

15, 684

7,503

9,224

13, 030

14, 971

17, 798

27, 449

28, 173

440
.931

33, 213
1 103 455
227
543
.817
.856

31, 507

726
.980

14. 889
257, 920
891
.865

149
.918

504
1.071

51, 394
1.919.3
10 165
(2)

1.926
1.699

Oats:
Receipts, principal markets
thous. of bu__
Stocks, domestic, end of month:
Commercial
__
rio__
On. farms
do
Exports including oatmeal
do
Price, wholesale, No. 3, white (Chicago)._dol. per bu_ -

269
.794

Rice:
42, 524
37, 536

54, 961
30, 167

62, 332
30, 734

88, 472
58, 385

42,350
73, 389

31,647
18, 109

190, 887
44, 418

n

1

-V t t

~

rln

Stocks, commercial, domestic, end of month-do
Price, wholesale, No. 2 (Minn.)
dol. per bu__
Wheat:
Production (crop estimate) total
Spring wheat
Receipts, principal markets

Stocks, end of month:
Canada (Canadian wheat)
do
United States domestic totalcf1
do
Commercial
_
- do
Interior mills, elevators, and warehouses
thous of bu
M^r^hant mills
do
Exports total including
Wheat only

flour

do
do

Prices, wholesale:
No. 1, dark northern spring (Minneapolis)
dol. per bu__
No. 2, hard winter (Kansas City)
do
No 2 red winter (St. Louis)
do
Weighted avg., 6 markets, all grades
do

10, 437

W
1.847
1.637

1.868
1.818
1.731

6,420

5,826

6,805

6,602

21, 186

17, 065

9,057

254
1.045

208
.992

'503
.912

11, 785
516, 603
778
.931

120, 540
80, 214

131, 132
129, 926

120. 622
73, 485

50, 534
65, 063

.887

97, 344
89, 767
76, 982

53, 497

56, 873

65,013

63, 302

20,372

23, 127

102, 340

90, 071

77, 352

76, 825

42, 642

54, 187

25, 175

28, 144
81, 199

15, 751
73, 562

26, 529
99, 562

28, 261
140, 267

292 2/59
153, 069

551 , 420
191, 062

980 355
295, 248

330, 758
186, 612

199, 749
177, 402

209, 432
158, 633

125, 522
125, 513

129, 682
181, 874

187, 253
217, 515

419, 822
43, 343
.105

356, 857
13,024
.105

279, 413
13, 259
.104

162, 622
127, 364
.104

21^,451
111,588
.091

383, 344
133, 772
.083

697,198
157, 879
.090

719, 664
191, 466
.094

676. 066
r 87, 408
.096

642. Q63
89, 502
.100

598, 059
193, 280
.105

511,299

442, 860

1,510
4,036
1.923

1,031
2,733
1.883

901
2,006
1.834

1 , 800
2, 423
1.790

5 995
5, 129
1.642

2 330
6, 183
1.659

1,381
6,471
1.817

806
6,217
1.933

636

864
5,321

21, 395
1,267
6, 344
2. 051

741
6, 136

2.036

r

5,844

97, 255
.105 1

1. 915

2.027

.105
3 17 795
480

2,825
1. 945

* 987. 5

mil of bu
do
thous. of bu_.

1.998
1.802
1.587

1,067.8

9,450

1

' t

(2)
1.913
1.597

4 521

18,316

26, 931

841,889

94, 417
77, 966

Rye:
"R

r

8 197

i 1 316

1

California:
Receipts, domestic, rough
thous. of lb__
Shipments from mills, milled rice
do
Stocks, rough and cleaned (cleaned basis), end
of month
thous of Ib
Southern States (Ark., La., Tenn., Tex.):
Receipts, rough, at mills
thous. of lb._
Shipments from mills, milled rice
do
Stocks, domestic, rough and cleaned (cleaned
basis), end of month
thous. of lb__
Exports
do
Price, wholesale, head, clean (N. O.)__dol. per lb__

69 006

1 342.0
48, 928

53, 853

31,013
' 325, 694

168, 777

166, 795

177, 355

177, 369

167, 086
396, 204
157, 848

59, 482
52, 087

47, 677
42, 673

89, 129
73, 587
72, 638
42, 306
39, 706

2. 532
2.435
2.476
2.440

2.537
2.384
2.305
2.421

2.448
2.343
2.191
2.348

66, 140

60, 975
262 813

160, 577

143, 6543

211, 870

233, 527

164, 425
1,128,018
238, 443

29, 220
27, 458

42, 819
38, 500

272, 960
131,963
480 862
39, 797
35, 439

33, 576
30, 140

' 34, 962

2.475
2.307
2. 213
2.313

2. 464
2. .^30
2.287
2.339

2.442
2.383
2.402
2.341

2.517
2. 452
2.488
2.404

2.597
2.540
2.565
2.472

65, 841

47, 284

35. 730

223, 849

209, 143

224, 941

202, 464

i 645. 5
32, 396

26, 284

29, 072

24. 341 I
342 438

218,333

216, 427

213, 163

163, 161

144, 640

206 068
520 869
124, 865

46, 435
41, 794

111 837
80 630
201 500
53, 427
49, 049

••281,330

' 856, 807
199. 947

••201,979
••113,007
339 336
34, 818
29, 667

r

2. 568
2.541
2. 625

2.488

r
44, 918
Ml, 315

2.546

2. 519
2. 555
2.471

2. 505

2.492
2.547
2.422

2. 540
2. 496 i
2 49?

2.436

s 986 5
22, 191

202, 564
101, 851

2. 503
2. 492
2 440
2.414

Wheat flour:
Production:
18, 529
17, 091
18, 026
17, 233
19, 653
18. 795
18, 386
18,
519
21,055
19, 876
21, 212
17, 920
18, 065
Flour
..thous. of sacks (100 lb.)._
r
72.9
75.4
70.3
73.4
76.5
88.5
88.2
82.0
79. 1
80.4
84.4
76.5
Operations, percent of capacity
_
73.6
368, 285
342, 902
338, 866
364,193 39,5, 893 377, 944
376,000
456, 496 403, 215
375,647
429, 296
364, 000
363 000
Offal
short tons
43, 049
39, 987
39, 958
45, 928
43, 789
42, 156
49, 342
46, 684
43, 333
43,337
49, 683
42, 025
42, 217
Grindings of wheat
thous. of bu.
Stocks held by mills, end of month
4, 701
4,494
4, 712
5 033
thous of sacks (100 Ib )
1,475
1,116
1,854
1,870
2,148
756
1,879
3,174
1,895
1,546
1,992
2.328
Exports
do
Prices, wholesale:
Spring, short patents (Minneapolis^*
6.144
6.013
6.010
6.245
6. 019
5. 894
5.885
6.138
6.044
5. 935
5. 865
5,675
dol. per sack (1001b.)__
5.720
5.713
5. 660
5. 744
5. 725
5.713
5.690
5.725
5. 575
5.850
5.710
Winter, hard, short patents (Kansas City)*. do
5.600
5.650
5.600
1
2
3
' Revised.
December 1 estimate.
No quotation.
May 1 estimate.
fRevised series. Data are furnished by the Chicago Board of Trade and represent receipts at 12 interior primary markets; for names of markets and data for January 1948-July 1950, see
note marked "t" on p. S-28 of the October 1951 SURVEY.
cfThe total includes wheat owned by the Commodity Credit Corporation and stored off farms in its own steel and wooden bins; such data are not included in the breakdown of stocks.
*New series. Data prior to February 1951 will be shown later.




SUEVEY OF CURRENT BUSINESS

June 1952
Unless otherwise stated, statistics through
1950 and descriptive notes are shown in the
1951 Statistical Supplement to the Survey

S-29
1952

1951
April

May

June

July

August

September

October

November

December

January

February

March

April

FOODSTUFFS AND TOBACCO—Continued
LIVESTOCK
Cattle and calves:
Slaughter (Federally inspected) :
Calves
thous. of animals- _
Cattle _ -.
do
Receipts, principal markets
do
Shipments feeder, to 8 corn-belt States _ do
Prices, wholesale:
Beef steers (Chicago)
dol. per 100 lb_.
Steers, stocker and feeder (Kansas City) -do
Calves, vealers (Chicago)
do_ __
Hogs:
Slaughter (Federally inspected)
thous. of animals. Receipts, principal markets
do
Prices:
Wholesale, average, all grades (Chicago)
dol. per 100 lb__
Hog-corn ratio
bu. of corn equal in value to 100 Ib. of live hog. .
Sheep and lambs:
Slaughter (Federally inspected)
thous. of animals..
Receipts, principal markets _
_ do
Shipments, feeder, to 8 corn-belt States
do
Prices, wholesale:
Lambs average (Chicago)
dol per 100 Ib
Lambs, feeder, good and choice (Omaha)--do

406
894
1,552
151

414
986
1,555
124

406
787
1,345
111

408
920
1.754
173

422
1,064
2,066
293

373
956
2,307
515

500
1,140
2,928
893

457
1,122
2,063
460

344
998
1,533
200

382
1,096
1,648
133

343
985
1,481
158

397
927
1,473
143

405
938
1,581
128

35.95
35.64
38.90

35.71
34.29
37.25

35.68
32.83
38.31

35.75
31.61
37.40

36.39
32.59
36.75

36.99
31.90
36.25

36.75
31.97
37.10

36.29
31.63
36.00

34.59
30.45
36.00

34.25
31.19
36.50

33.78
32.06
37.00

33.41
31.99
38.50

33.39
31.32
37.00

4,989
3,060

4,952
3,080

4,700
2,856

3,826
2,630

4,236
2,765

4,398
2,743

5,651
3,460

6,531
4,098

6,912
4,174

6,835
4,373

5,779
3,626

5,776
3,561

5,281
3,163

21.01

20.77

21.07

20.36

20.35

19.62

20.09

18.30

17.74

17.42

17.07

16.56

16.58

12.7

12.4

13.0

12.8

12.8

11.9

12.4

11.1

10.4

10.4

10.4

10.1

9.8

657
807
157

657
956
258

811
964
164

863
1,076
168

889
1,310
492

827
1,821
703

1,084
2,152
822

922
1,157
305

810
946
119

1,042
1,150
123

990
971
109

971
988
119

941
1,068
131

39.25
0)

35.50
0)

35.00
0)

31.75
0)

31.50
31.34

31.25
32.64

31.00
32.00

31.00
31.31

30.75
30.50

30.25
0)

28.00
0)

26.88
0)

28.88
(0

1,479
967
77

1,537
908
79

1,442
847
81

1,387
748
84

1,488
640
62

1,374
550
56

1,668
531
44

1,841
728
87

1,866
966
108

1,977
1,146
113

1,715
1,264
115

1,656
'1,313
94

1,557
1,319

537, 799
117, 821
495

595, 451
106, 463
385

483, 836
96, 041
348

556, 897
94, 900
472

617, 158
101, 377
769

553, 317
102, 301
2,643

648, 917
135, 560
892

645, 256
198, 647
2,189

585, 399
234, 679
850

656, 307
256, 247
660

593, 420
557, 237
265, 700 ' 267, 437
1,116
1,006

566,992
252, 221

MEATS
Total meats (including lard) :
Production (inspected slaughter)
mil. of lb._
Stocks, cold storage, end of month
__ do
Exports
do
Beef and veal:
Production (inspected slaughter)
thous. of lb__
Stocks, cold storage, end of month
_ do
Exports
do
Price, wholesale, beef, fresh, steer carcasses, choice
(600-700 Ibs.) (New York)
dol. per lb__
Lamb and mutton:
Production (inspected slaughter)
thous. of lb__
Stocks, cold storage, end of month
do
Pork, including lard, production (inspected
slaughter)
thous. of lb_.
Pork, excluding lard:
Production (inspected slaughter)
_ do
Stocks, cold storage, end of month
do
Exports
do
Prices, wholesale:
Hams, smoked, composite
dol. perlb__
Fresh loins, 8-12 Ib. average (New York). .do
Lard:
Production (inspected slaughter)
thous. of lb_.
Stocks, cold storage, end of month,
_ do
Exports
do
Price, wholesale, refined (Chicago) ___dol. perlb..

.578

.583

.578

.576

.578

.594

.601

.599

.579

.571

.562

.560

.564

32, 603
5,435

31, 457
5,862

35, 892
5,235

38, 061
6,211

39, 369
6,407

36, 652
7,227

47, 490
9,767

42, 803
12, 536

37, 915
13, 720

50, 536
13, 840

48,986
13, 532

48, 201
' 14, 896

45, 703
12, 819

908, 712

910, 332

922, 354

791, 554

831, 556

784, 336

971, 381 1, 153, 267 1, 242, 339 1, 269, 791 1,072,252 1,050,706

672, 100
654, 497
3,710

665, 162
616, 231
4,488

672, 784
572, 372
6,113

576, 759
496, 171
5,851

614, 815
401, 573
5,833

579, 276
325, 959
5,753

718,673
276, 255
8,899

850, 917
381, 870
7,484

905, 863
548, 604
11, 257

931, 607
704, 992
10, 337

771, 472
793, 870
7,675

759, 957
' 822, 006
8,512

682, 678
823, 658

.565
.463

.568
.474

.574
.488

.573
.488

.574
.544

.568
.559

.574
.557

.549
.460

.544
.427

.546
.433

.527
.424

.526
.448

.531
.430

173, 137
75, 171
66, 995
.203

179, 686
68, 639
68, 083
.198

182, 936
68, 754
67, 886
.200

157, 111
46, 820
72, 030
.198

158, 700
34, 702
48, 398
.198

149, 769
28, 372
41, 753
.208

184, 705
31, 344
29, 808
.209

221,097
39, 229
70, 076
.180

246, 363
53, 614
88, 194
.190

248, 037
49, 284
96, 445
.175

220,934
53, 816
100,339
.175

213, 346
' 70, 803
79, 627
' .153

191, 803
88, 786

43, 097
125, 359
.350

52, 380
112,369
.308

42, 360
106, 692
.289

46, 157
121, 493
.288

63, 264
166, 242
.276

77, 471
259, 920
.261

87, 278
309, 943
.248

76, 887
302, 151
.284

35, 651
300, 000
.275

35,067
270, 397
.295

42, 273
'232,832
.295

41, 462
195, 100
.258

6,156
3,602

5,270
2,652

4,711
668

4,231
498

4,007
468

4,240
370

4,215
357

4,609
429

5,408
894

5,715
1,681

6,441
2,325

6,192
2,220

2,083
162, 659

2,427
189, 980

2,270
190, 818

1,615
176, 273

958
151, 293

527
121, 592

230
95, 143

141
67, 200

238
53,055

942
60, 576

' 1, 596
' 84, 295

2,185
112, 125

.478

.517

.514

.595

.630

.669

.664

.496

.398

.364

.382

.396

944, 623

.145

POULTRY AND EGGS
Poultry:
35, 273
Receipts 5 markets
thous of Ib
147, 203
Stocks, cold storage, end of month
do
.377
Price, wholesale, live fowls (Chicago) § dol. per lb. .
Eggs:
r
6,040
Production, farm
millions. .
2,790
Dried egg production
thous. of lb__
Stocks, cold storage, end of month:
973
Shell
_ _ _ _ _ _ thous. o f cases
109, 253
Frozen
thous. of lb
Price, wholesale, extras, large (Chicago)
.475
dol. per doz_^
MISCELLANEOUS FOOD PRODUCTS
54, 385
97, 030
113, 945
100, 170
71, 824
84,067 ' 78, 125
113, 842
65, 000
89, 249
59, 000
74,637
Confectionery, manufacturers' sales*. -thous. of dol__ ' 66, 641
Cocoa:
15, 636
9,622
29, 857
23, 235
32, 373
6,090
15, 555 ' 16, 747 ' 32, 672
27,023
23, 778
25, 526
Imports
long tons
.351
.341
.321
.295
.326
.355
.358
.384
.384
.383
.331
.383
.381
Price, wholesale, Accra (New York) --dol. per lb_.
Coffee:
985
1,482
1,521
1,609
1,792
1,725
1,419
1,281
1,331
966
1,604
837
Clearances from Brazil, total
-thous. of bags__
521
962
1,008
945
758
899
1,089
655
572
888
847
871
To United States
do
551
619
591
754
736
689
562
785
955
690
966
658
Visible supply, United States}
do
2,292
2,042
1,882
1,253
' 1, 295
1,742
1,217
' 1, 999
••2,048
1,485
1,457
1,325
Imports
do
Price, Wholesale, Santos, No. 4 (New York)
.532
.550
.541
.543
.544
.548
.535
.545
.550
.543
.545
.536
.536
dol. per lb__
Fish:
54,520
70, 310
38, 843
67, 200
29, 224
37, 963
25, 946
23, 139
50,468
57, 916
68, 613
69, 618
Landings, fresh fish, 5 ports .
thous. of lb
179, 135
146, 891 161, 628
125, 704
105, 944
113, 544
168. 792
166, 100
127, 351
148. 113
113. 996
Stock, cold storage, end of month
do
88, 803
171. 924
r
J
Revised.
No quotation.
§ Series revised to represent quotations_for heavy type.
.. Department of Commerce, Bureau of the Census, representing estimated total sales by manufacturers of confectionery and competitive chocolate prod*New series. Compiled by the U. S..
ucts. The figures exclude sales of chocolate coatings and cocoa produced by chocolate manufacturers and sales by manufacturer-retailers with a single business location,
JFor revised data for July 1949-October 1950, see note marked "}" on p. S-29 of the January 1952 SURVEY.




SURVEY OF CURRENT BUSINESS

S-30
Unless otherwise stated, statistics through
1950 and descriptive notes are shown in the
1951 Statistical Supplement to the Survey

June 1052
1952

1951

April

May

June

July

August

September

October

November

December

January

February

March

April

FOODSTUFFS AND TOBACCO—Continued
MISCELLANEOUS FOOD PRODUCTS^Con.
Sugar:
Cuban stocks, raw, end of month
thous. of Spanish tons__
United States:
Deliveries and supply (raw basis) :
Production and receipts:
Production
_ _ short tons__
Entries from off-shore
do
Hawaii and Puerto Rico
do

' 3, 588

3,838

3,137

2,573

1,977

1,602

952

577

427

718

1,883

3,033

4,033

34, 751
567, 747
171, 703

18, 463
563, 138
260, Oil

47, 954
620, 832
284, 460

31, 386
594, 611
228, 452

27, 762
542, 615
195, 252

98, 067
396, 322
111, 020

464, 289
444, 726
92, 575

627, 848
314, 637
102, 389

472, 810
164, 866
155, 925

84, 442
364, 959
72, 083

32, 439
293, 390
40, 217

24, 680
692, 525
221, 145

29, 006
596, 991
180, 047

532, 911 1, 104, 322
Deliveries, total
_ do _
' 524, 305 1, 094, 004
For domestic consumption
do
' 8, 606
10, 318
For export
do_
Stocks, raw and refined, end of month
'1,808
1,285
thous. of short tons__
16, 218
21,079
Exports, refined sugar
short tons
Imports:
344, 583 285, 133
Raw sugar total
do
242, 238
175, 481
From Cuba
do
102, 344
109, 643
From Philippine Islands
do

824, 919
821,213
3,706

519, 795
511, 268
8,527

676, 096
670, 503
5,593

646, 163
643, 958
2,205

678, 741
676, 573
2,168

546, 529
544, 224
2,305

556, 802
536, 614
20, 188

581,376
578, 699
2,677

544, 553 'r 862, 480
' 542, 900 860, 405
' 2, 075
1,653

612, 641
608, 995
3,646

1,090
25, 412

1,217
10, 656

1,121
3,399

958
2,011

1,169
1,470

1,540
1,005

1,756
18,264

1,613
867

1,473
1,122

1,241
11, 522

1,283

271, 882
174, 534
97, 342

314,392
230, 304
79, 723

311,704
246, 113
54, 807

252, 570
212, 522
40, 041

242, 519
226, 799
11,984

236, 919
226, 225
10, 691

75, 340
74, 217
1,120

248, 724
223, 704
25 017

275 173
232, 234
42 938

398, 577
307, 151
91,394

35, 197
35, 197

32, 735
32,728

28, 013
28, 013

45, 251
45, 251

4,926
4,424

1
0

10 221
10,220

22 073
21, 873

27, 245
26, 895

Refined sugar, total
From Cuba
Price (New York):
Raw, wholesale
Refined:
Retail
Wholesale
Tea, imports

r

r

r

39, 665
39, 465

36, 834
36, 534

29, 310
29, 168

dol. perlb_.

.058

.063

.066

.063

.060

.060

.059

.060

.058

.058

.059

'.062

.062

dol. per 5 lb_
___dol. per lb__
thous. of Ib

.501
.081
11, 973

.480
.082
7,208

.482
.084
5,704

.492
.086
7,173

.497
.084
7,152

.496
.083
5,835

.486
.081
4,945

.482
.081
5,624

.482
.081
6,713

.483
.081
7, 769

.480
.080
6,659

.476
.080
9,855

.486
.085

_

_

do
do_ _

TOBACCO
Leaf:
Production (crop estimate)
mil of Ib
Stocks, dealers' and manufacturers', end of quarter total
mil oflb
Domestic:
Cigar leaf
do
Air-cured, fire-cured, flue-cured, and miscellaneous domestic
mil. of Ib
Foreign grown:
Cigar leaf
do
Cigarette tobacco
do
Exports, including scrap and stems- thous. of lb__
Imports, including scrap and stems
do
Manufactured products:
Production, manufactured tobacco, total.. do_ __
Chewing, plug, and twist
do
Smoking
do _.
Snuff
do
Consumption (withdrawals):
Cigarettes (small):
Tax-free
millions
Tax-paid
do_
Cigars (large), tax-paid
thousands. _
Manufactured tobacco and snuff, tax-paid
thous. of lb__
Exports, cigarettes
millions. _ _
Price, wholesale, cigarettes, manufacturer to
wholesaler and jobber, f. o. b. destination*
dol. per thous__

1

2 282

r

4, 271

4,244

3,573

3,760

404

373

••350

400

2,973

3,203

3,732

3,648

32, 804
7,597

25, 718
8,733

17
180
26, 794
7,832

24,068
8,018

48, 266
' 9, 813

17
166
74,
746
r
8, 503

87, 519
13, 702

60, 337
r 10, 303

18
170
60,623
5,734

33, 489
8,572

29, 752
8,860

19
176
25, 891
7,466

18, 706
6,674
8,732
3,299

20, 145
7,541
9,103
3,501

19, 581
7,475
8,897
3,209

15,777
6,708
6,819
2,250

21, 665
8,240
9,741
3,684

19, 777
7,049
9,669
3,060

18, 292
7,120
8,017
3,154

20,624
7,853
9,243
3,528

14, 958
5, 739
6,018
3,201

19, 884
7,516
8,619
3,749

18, 553
7, 253
7,826
3, 473

17,912
6,705
7,729
3,478

3,159
29, 524
444, 006

3,996
32, 776
478, 693

3,463
32, 474
502, 592

2,444
29, 739
421, 758

3,499
35, 601
533, 739

2,773
30, 800
490, 938

3,416
37, 477
590, 616

3,708
33,994
554, 341

3, 508
23, 847
367, 906

4,141
37, 598
494, 556

2 974
29,308
446, 560

18, 451
1,381

19, 272
1,401

19, 091
1,404

15,806
1,140

21, 551
1,704

19, 486
1,443

14, 374
J,208

24, 005
1, 742

14, 353
1,443

19, 450
1, 517

3.969

3.969

3.969

3.969

3.969

3.969

3.969

3.944

4.027

' 11, 426
110
116
1,864
••1,133

3 107
29 878
478, 101

32 255
491, 964

18,490
1,215

16, 759
1,566

18, 076

4.027

4.027

4.027

12, 972
81
186
2,367
668

10, 717
26
109
1,622
880

10, 388
27
74
1,770
1,998

.400
.140

.375
.133

.325
.128

r

LEATHER AND PRODUCTS
HIDES AND SKINS
Imports, total hides and skinst
thous. of lb__
Calf and kip skins.
thous. of pieces. _
Cattle hidest
do
GoatskinsJ-.
_
do _.
Sheep and lamb skins
do
Prices, wholesale (Chicago) :
Calfskins, packer, heavy, 9H/15 lbs.*.._dol. per lb_.
Hides, steer, heavy, native, over 53 Ibs.* do

18, 177
203
175
3,230
1,580

22, 301
285
280
3,616
1,655

23, 864
195
325
2,755
1,949

30, 220
355
437
3,137
1,423

30, 707
136
416
2,819
2,632

' 25, 953
78
'187
1,931
5,753

21,212
105
202
1,814
2,358

13, 057
78
158
1,821
925

.800
.330

.800
.330

.800
.330

.650
.330

.557
.308

.486
.323

.475
.310

.399
.216

.379
.188

.275
103

LEATHER
Production :f
r
r
r
r
r
••802
••605
Calf and kip
thous. of skins
617
571
••490
567
557
717
M57
601
805
732
r
r
r
r
r
r
r
1,916
1,880
1 535
Cattle hide
thous of hides
1, 957
1, 861
1, 646
1 750
1, 886
1 555
1 880
1 862
1 753
r
f
r
r
r
r
r
r 2, 926
r 3, 109
2, 629
2, 045
2, 019
2, 475
1, 842
Goat and kid
thous. of skins
1, 847
2
513
2
066
2
614
2
430
r
r
r
r
r 1, 838
1,968
1, 476
Sheep and lamb
do
' 1, 672
f 1, 473
1, 872
2,047
2, 137
r 2, 159
2,279
1, 881
2 081
Exports:
Sole leather:
7
3
12
32
8
56
Bends, backs, and sides
_ _ thous. of Ib
83
18
27
18
17
60
14
48
78
7
86
Offal, including belting offal
do_ _
82
43
17
89
113
10
76
Upper leather
thous. of sq. ft_.
1,368
1,577
2,087
1,833
1,118
2,312
1,706
2,621
2,321
1,925
1,549
2,482
Prices, wholesale:
2
.880
.856
Sole, bends, heavy, f. o. b. tannery* dol. per Ib
.776
.700
.660
600
525
.776
630
Chrome calf, black, B and C grades, f. o. b. tan2
1.150
1.022
nery*
dol. per sq. ft__
.955
.906
.955
.787
.842
.807
.808
.842
.835
r
2
Revised.
* December 1 estimate.
Specification changed; earlier data not strictly comparable.
*New series. Compiled by U. S. Department of Labor, Bureau of Labor Statistics; data prior to February 1951 will be shown later.
^Revisions for 1950 are shown in corresponding note in the October 1951 issue of the SURVEY.
fRevisions for January-March 1952, respectively: Calf and kip (thous. of skins)—867; 919; 902; cattle hide (thous. of skins)—2,297; 2,200; 2,220; goat and kid (thous. of skins)—3,509; 3,202:
3,442; sheep and lamb (thous. of skins)—2,834; 2,700; 2,494.




SURVEY OF CURRENT BUSINESS

June 1952

Unless otherwise stated, statistics through
1950 and descriptive notes are shown in the
1951 Statistical Supplement to the Survey

S-31
1952

1951

May

April

July

June

August

September

October

November

December

January

February

March

April

LEATHER AND PRODUCTS—Continued
LEATHER

MANUFACTURES

Shoes and slippers: t
Production total
thous. of pairs
Shoes, sandals, and play shoes, except athletic,
total
. __ __
thous. of pairs. _
By types of uppers :d"
All leather
do
Part leather and nonleather
do
By kinds:
Men's
do
Youths' and boys'
do
Women's
__do
Misses' and children's
do
Infants' and babies'
-do
Slippers for housewear
do
Athletic
do
Other footwear
do
Exports§
do _
Prices, wholesale, f. o. b. factory:*
Men's and boys' oxfords, dress, cattle hide
upper, Goodyear welt
dol. per pair..
Women's oxfords (nurses'), side upper, Goodyear welt
dol per pair
Women's and misses' pumps suede split do

39, 635

38, 303

37, 578

32, 530

43, 234

36 130

38 783

34 884

32 227

41 306

42 518

35, 412

34, 152

33, 429

28, 465

37, 532

30, 844

32, 822

29, 462

28, 794

38, 290

39, 133

40, 142

30, 638
4,077

29, 480
3,988

28, 905
3,877

25, 020
2,909

32, 796
3,839

26, 862
3,105

29 450
3,372

26 262
3,200

25 511
3,283

33 694
4,596

34 081
5, 052

34 408
5,734

9,340
1,025
17, 807
4,294
2,946
3, 636
299
288
338

9,744
1,201
15,934
4,282
2,991
3, 566

330
307

9.245
1,284
15, 844
4,365
2,691
3 612
211
326
247

6,898
1,132
15,057
3 366
2,012
3,609
152
304
197

9,156
1,468
19, 862
4 480
2,566
5 091
198
413
289

7, 969
1 258
15 580
3 800
2 237
4 660
189
437
283

8,755
1 319
15 713
4 321
2 714
5 395
205
361
229

7,739
1 097
13 711
4 290
2 625
4 930
180
312
359

7, 023
1 068
13 740
4 356
2 607
3 032
176
225
302

8,577
1 263
19 676
5 623
3 151
2 511
216
289
219

8,541
1 371
20, 365
5 667
3,189
2 851
233
301
321

8,531
1 374
21, 191
5 785
3 261
3 277
223
325
400

5. 655

5.577

5.550

5.467

* 5. 760

6.760

5.623

5.586

5.523

S.523

5.523

5.523

5.311

5.053
3.967

5.053
3.967

5.037
3.967

5 037
3.967

5 037
3.933

5 037
3 933

4 836
3 933

4 711
3 933

4 678
3 890

4 678
3 801

4 861
3.767

4 861

4 678

80, 413 «• 2 45, 777
160 885
142 814

92,918
168, 582

69, 868
203 218
3 031

722
2,309
3 024
696
2,328

2,537
3,251

255

43 967

LUMBER AND MANUFACTURES
LUMBER—ALL TYPES
Exports, total sawmill products.
M bdft__
Imports total sawmill products
do
National Lumber Manufacturers Association:
Production total
mil. bd. ft
Hardwoods
- - -- __do
Softwoods
do_ _ _
Shipments, total
do
Hardwoods
_
__do
Softwoods
do
Stocks, gross (mill and concentration yards), end
of month total
mil. bd. ft
Hardwoods
_-do
Softwoods
-- do __
SOFTWOODS
Douglas fir:
Orders new
__ - do
Orders, unfilled, end of month
--do
Production
_
do
Shipments
do
Stocks gross mill end of month _ __
do
Exports total sawmill productsM bd. ft__
Pawed timber
- - - - do
Boards planks scantlings etc
do
Prices, wholesale:
Dimension, No. 1 common, 2" x 4", R. L.
dol. per M bd. ft..
Flooring, B and better, F. G., 1" x 4", R. L.
dol. per M bd. ft—
Southern pine:
Orders new
mil. bd. ft_.
Orders unfilled end of month
do
Production
-do_
Shipments
do
Stocks, gross (mill and concentration yards), end
of month
mil. bd. ft
Exports total sawmill products
M bd ft
Sawed timber
do
Boards planks scantlings etc
do
Prices, wholesale, composite:
Boards, No. 2 and better, 1" x 6" x R. L.*
dol. per M bd. ft__
Flooring, B and better, F. G., 1" x 4" x S/L*
dol. per M bd. ft__
Western pine:
Orders new
mil bd ft
Orders unfilled, end of month
_
do
Production
do
Shipments
- -- __do
Stocks, gross, mill, end of month
do
Price, wholesale, Ponderosa, boards, No. 3 common, I" x 8"
dol. per M bd. ft

r

64, 985
232, 287

83, 538
213, 085

93, 155
204, 938

3,469
760
2,709
3,454
786
2,668

3,793
806
2,987
3,474
692
2,782

3,660
837
2,823
3,171
632
2,539

3,147
767
2,380
2,741
572
2,169

6,300
2,207
4,093

6,584
2,321
4,263

7,111
2,526
4,585

963
890
978
998
611
36, 794
11, 784
25, 010

966
889
1, 045
1,012
607
43, 359
13, 792
29, 567

742
704
954
882
717
•• 48, 761
12, 010
' 36, 751

96, 239
221, 873

r
r

r

102, 367
220, 111

r

T

76, 745
206, 518

106, 072
232 368

3 584
767
2,817
3,231
594
2,637

3 200
746
2,454
2,937
574
2,363

3 514
741
2,773
3 412
655
2 757

3 210
686
2,524
3 163
690
2 473

2,632
645
1,987
2 541
600
1,941

2 797

2 402

2,870
675
2,195
2,950
681
2,269

7,543
2,720
4,823

7,870
2,893
4,977

8,132
3,065
5,067

8 193
3,152
5 041

8 240
3,148
5 092

8, 364
3,193
5,171

8, 311
3,186
5 125

8,232
3,180
5,052

8,211
3,179
5,032

8.123
3,179
4, 944

737
644
708
656
795
38, 259
11, 744
26, 515

867
509
987
926
830
r
53, 980
12, 453
r 41, 527

835
514
860
830
861
38, 438
7,421
31,017

923
374
981
965
836
47, 677
20, 823
26, 854

764
245
898
892
841
r
43, 714
21 143
r 22 600

754
904
717
668
924
r 43, 652
14
856
r
28 796

752

814

806

1,065
799

1,001
830

961
860

906

55, 541
17, 657
37, 884

37, 254
9,292
27, 962

T

81, 223
213 655

611

2,186
3 021

619

833
968

918
971

15, 250
9 110
6 140

835
993

3,197

660

660

2,591

904
919

949
903

83. 937

83. 657

82. 268

82. 068

81. 935

82. 212

82. 648

81.741

81. 368

81. 508

82. 467

82. 887

85. 239

132. 700

132. 700

132. 700

131. 998

130. 230

129. 842

129. 842

128.617

128. 209

126. 575

126. 575

125. 432

125. 759

678
392
762
735

689
331
816
750

605
299
695
637

619
286
677
632

742
329
707
699

697
370
622
656

808
381
728
797

639
337
695
683

553
310
626
580

312
791
746

327
707
697

318
688
709

300
758
762

1,444
9,087
1,573
7,514

1,510
10, 695
3,457
7,238

1,568
' 9, 009
2,589
' 6, 420

1,613
20, 652
3,791
16,861

1,621
11, 929
2,677
9,252

1,587
14, 292
2, 336
11, 956

1,518
16, 996
3, 522
13, 474

1,530
9 505
2,714
6 791

1,576
11 665
3, 725
7,940

1,621
8 878
1 390
7 488

1,631
11, 975
2, 595
9,380

1,610
10, 278
2,400
7,878

1,606

712

748

700

744

80. 374

79. 861

78. 814

78. 411

78. 625

78.915

79. 735

80. 612

80. 797

80. 642

80. 196

79. 765

79. 676

155. 061

155. 061

155. 061

155.061

155. 061

155. 061

155. 061

155. 061

155. 061

155. 061

155. 061

155. 061

155. 061

683
731
659
630
1,334

740
742
792
701
1,427

763
754
847
723
1,551

724
734
741
644
1,648

749
701
801
716
1,733

700
714
684
614
1,803

747
745
744
690
1,857

635
714
641
619
1,879

530
716
419
478
1,820

684
355
485

552

490

498

608

87.07

86.45

85.73

84.13

81.68

78.97

78.85

78.17

78.74

264, 094
263, 884
59, 080

285, 278
275, 490
65, 801

281, 340
280, 908
65, 529

195, 059
178, 875
80, 323

283, 321
270, 994
91, 462

242, 823
235, 627
97, 932

269, 629
257, 805
110, 649

187, 254
189, 383
108, 524

176, 132
195, 259
88, 552

244,011
238, 911
92, 577

472
390
471

1,690

1,609

465
481
505
1,585

1,594

78.58

79.22

80.39

82.10

269, 857
269, 732
85, 350

282, 864
282, 070
85, 800

602
504
579

SOFTWOOD PLYWOOD
Production _ _ _ -thous. of sq. ft., %" equivalent-Shipments
do
Stocks end of month
do

>• 253, 003
260, 815
r
85, 003

r

HARDWOOD FLOORING
Maple, beech, and birch:
3,550
3,150
4,800
5,075
3, 550
3, 600
3,675
3,175
3,350
3,775
4,550
4,300
Orders new
M bd ft
3,700
12, 250
10, 700
12, 300
16, 975
19, 025
20, 000
15, 650
14, 500
12, 950
13, 050
11, 700
Orders, unfilled, end of month
do.
17, 350
13, 500
4,150
4 300
4,050
3,750
4 500
5 550
5, 700
4 350
4,800
5,400
5 450
4 750
3 900
Production
do
4,250
3,350
4,000
3,550
5,425
3,800
5,300
5,200
4,100
3 750
4,850
Shipments
- . - - do
4,350
3,600
8,050
9, 475
7,575
8,600
5,600
5,675
5,850
4,875
6,500
5,325
Stocks, mill, end of month
do
8,250
6,900
7,300
2
' Revised.
* Specification changed; earlier data not strictly comparable.
Data beginning January 1952 have been adjusted to conform to the 1952 revision of the export schedule.
J Revisions for January-October 1950 are available upon request.
cf'The figures include a comparatively small number of "other footwear" which is not shown separately from shoes, sandals, etc., in the distribution by types of uppers; there are further
small differences between the sum of the figures and the totals for shoes, sandals, and play shoes, because the latter, and also the distribution by kinds, include small revisions not available by
types of uppers.
§Excludes "special category" items.
*Ncw series.
Data are compiled by the U. 8. Department of Labor, Bureau of Labor Statistics; monthly data prior to March 1951 (February 1951 for softwoods) will be shown later.




SURVEY OF CURRENT BUSINESS

S-32
Unless otherwise stated, statistics through
1950 and descriptive notes are shown in the
1951 Statistical Supplement to the Survey

June 1952

1951

May

April

June

1952

August

July

Septem-

ber

October

Novem-

ber

Decem-

ber

January

Febru-

ary

March

April

LUMBER AND MANUFACTURES—Continued
HARDWOOD FLOORING—Continued

Oak:
Orders, new
Orders unfilled end of month
Production
Shipments
Stocks mill, end of month

_

M bd. ft
do_ __
do.. __
-- do
do

68, 904
82, 647
87, 050
81,866
43, 370

65, 806
65, 620
94, 499
85, 922
51, 947

65, 721
54, 740
71, 301
69, 053
63, 976

51, 757
53, 093
81, 269
71, 488
61, 728

83, 288
57, 246
83, 699
80, 782
64, 635

84, 032
65, 778
74, 297
75, 500
63, 432

57,156
54, 985
81,035
73, 263
72, 460

83, 335
66, 613
86, 628
85, 372
64, 688

49, 607
53, 002
64, 181
54, 554
82, 087

77, 919
56, 995
78, 657
73, 926
86, 818

416, 700
19,115
257, 307
22, 013

402, 242
21, 992
235, 157
15, 169

87, 840
67, 795
73, 094
77, 040
82, 872

80, 919
76, 931
75, 660
77, 366
81,168

407, 051
16, 247
181, 746
9,285

501,977
17,074
148, 562
12,115

89, 018
79, 142
82, 922
84,643
77, 817

METALS AND MANUFACTURES
IRON AND STEEL
Foreign trade:
Iron and steel products (excl. advanced mfrs.):
Exports total
_short tons..
ScrapQ
do
Imports total
_ _ _ do
Scrap
do_ _

r

349, 615
25, 455
255, 268
17, 116

296, 081
20, 651
248, 186
17, 417

6,288
3,240
3,048
4,427
1,212
3,215

6,023
3,127
2,896
4,437
1,215
3,222

6,574
3,409
3,165
4,492
1,255
3,237

6,268
3,244
3,024
4,422
1,240
3,183

6,141
3,166
2,975
4,366
1,199
3,168

6,549
3,426
3, 123
4,356
1,166
3,190

6,241
3,215
3,026
4,697
1,153
3,544

6.611
3,407
3,204
5,072
1,178
3,894

15,103
16, 251
7,129

15, 832
16,448
6,515

14, 764
14, 900
6,381

13, 900
14, 623
5,639

7,052
7, 500
5,182

3,682
3,132
5,794

3,704
2,108
7,404

3,605
2,160
8,849

3,714
2,341
10, 236

9,073
8,655
10, 629

13, 166
7,499
26, 423
23, 731
2,692
1,235

13, 574
7, 556
33,142
29, 299
3,843
1,083

13, 229
7, 699
39, 920
35, 057
4,863
1,049

12, 672
7,473
45, 453
39, 504
5,950
848

11,089
7,749
50, 229
43, 425
6,804
' 1, 105

5, 695
7,624
49, 099
42, 258
6,841
r
740

791
7,639
43, 711
37,315
6,396
656

0
7,527
35, 927
30, 369
5,558
659

0
7,229
29, 207
24. f,93
4,514
624

0
8,022
21,451
* 18, 082
3, 369
674

6,532
6,616
19, 592
16, 487
3,105

49

85

62

69

71

'68

79

65

78

70

73

2,337
1,363
767

2,229
1,397
796

2,162
1,309
743

2,208
1,029
568

2,145
1,219
698

2,055
1,115
626

1,983
1,302
733

1,934
1,184
674

1,847
1,033
583

1,801
1,199
694

1,766
1,155
655

1,711
1,172
661

279,561
97,921
58,199

277, 778
101,345
61,918

258,144
94,376
57,176

263,017
76, 826
45, 072

249, 273
90, 727
57, 164

244, 575
82, 276
48, 568

238,019
93, 884
58, 251

220, 740
88, 210
53, 682

215, 134
76, 045
45, 543

202, 799
87, 003
54, 988

193, 061
82, 898
50, 129

196, 896
80, 960
49, 084

5,888
5,914

6,173
6,184

5,978
5,989

6,070
5,955

6,063
6,001

5,890
5,898

6,197
6,274

5,911
5,922

5,977
5,916

6,040
6, 106

5,785
5,756

6,300
6,219

287, 245 r 305, 892
21, 829
22, 213
315, 358 279, 818
26, 074
28, 993

299, 794
21, 587
387, 851
22, 260

296, 954
20, 111
378, 358
19, 086

280, 662
14, 456
292, 784
14, 102

6,707
3,331
3, 375
4,215
1,104
3,111

6,828
3,370
3,458
4,154
1,123
3,031

6,377
3,187
3,190
4,112
1,170
2,941

5,934
3,043
2,892
4,199
1,171
3,028

8,795
8,837
9, 757

14, 362
14, 990
9,128

14, 932
15, 783
8,277

6,211
7,235
15, 072
13, 258
1,813
741

12, 664
7,761
19, 772
17, 696
2,075
834

83

r

r

344, 232
21, 533
219, 559
24, 630

r

Iron and Steel Scrap
Consumption total§
thous. of short
Home scrap
Purchased scrnp
Stocks consumers' end of month, total!
Home scrap
Purchased scrap

tons
do
do
do
do
do

Ore
Iron ore:
All districts:
Mine production
_ _ thous. of long tons__
Shipments
- - - - do
Stocks, at mines, end of month
do
Lake Superior district:
Shipments from upper lake ports
do
Consumption by furnaces
do
Stocks end of month, total ,
do
At furnaces
do
O n Lake Erie docks
_ _ _
do
Imports
do
Manganese ore, imports (manganese content)
thous of long tons
Pig Iron and Iron Manufactures
Castings, gray iron:§
Orders unfilled for sale
thous of short tons
Shipments total
do
For sale
do
Castings, malleable iron:§
Orders unfilled for sale
short tons
Shipments, total
do
For sale
do
Pig iron:
Production.
thous. of short tons__
Consumption §
do
Stocks (consumers' and suppliers') , end of month §
thous of short tons
Prices, wholesale:
Composite
_ _ _ _ d o l . per long ton
Basic (furnace)
. . ._.
do
Foundry, No. 2, f. o. b. Neville Island
do

1,603

1, 613

1,633

1,771

1,819

1,818

1,844

1,811

1,751

1,761

1,764

1,789

53.61
52.00
52.50

53. 61
52.00
52.50

53.61
52.00
52.50

53.61
52.00
52.50

53.62
52.00
52.50

53.67
52.00
52.50

53.67
52.00
52.50

53. 67
52.00
52.50

53.67
52.00
52.50

53.67
52.00
52.50

53. R7
52. 00
52. 50

53.67
52. 00
52.50

181,908
129, 059
40, 818

188, 956
130, 826
39, 194

184,424
131,219
41,605

147,251
100,141
27, 235

177,096
128, 981
41,162

160, 695
116,658
34, 693

189, 929
139, 953
39, 290

176,728
131, 276
34, 524

165,110
123,448
32, 733

183, 738
139, 488
36, 650

5,225

53.67
52.00
52.50

Steel, Crude and Semimanufactures
Steel castings:
Shipments, total
For sale total
Railway specialties
Steel forgings:
Orders unfilled total
F>rop and upset

_

_

short tons
do
do
do
do

Shipments, for sale, total
do
Drop and upset
_ _ _
do
Press and open hammer
do
Steel ingots and steel for castings:
Production
thous. of short tons
Percent of capacity!
_.
Prices, wholesale:
Composite, finished steel
_
dol. per Ib
Steel billets, rerolling (producing point) d"

dol. per net ton__

Structural steel (producing point)
dol. per l b _ _
Steel scrap, heavy melting (Pittsburgh)
dol. per long ton__

924, 202
736, 701
187 501
153,947
112,074
41, 873
r

8, 846
103

.0471

11,208,350 1, 263, 657 1, 361, 005 1, 435, 893
1177,273
1117,475
i 59, 798
r

170, 371
110,979
59, 392

147,319
95, 275
52, 044

157, 973
103,962
54, Oil

1,418,515 1, 426, 645 1, 446, 118 1,410,646

149, 736
97, 326
52, 410
r

176, 342
119,047
57, 295

165, 023
109. 014
56, C09

8, 660
101

' 9, 122
103

«• 8, 799
103

' 8, 891
101

9,136
99

* 8, 662
101

' 8, 684
98

r 8, 739
99

.0471

.0471

.0471

.0471

.0471

.0471

.0471

.0471

56. 00
.0400

56.00
.0400

56.00
.0400

56.00
.0400

173, 694
131 997
32, 118

1,471,620 •1,464,255 1, 499, 777

191,483
130,675
60. 808

103

9, 100

rr 174, 626
133, 602
31,317

190, 774 >• 187, 487
129, 761 r 125, 042
62, 445
61,013

194, 794
128, 163
66, 631
7,991
90

8, 657
101

9,404
102

.0471

.0471

.0471

.0471

56.00
.0400

56.00
.0400

56.00
.0400

56.00
.0400

44.00

44.00

56.00
.0400

56.00
.0400

56.00
.0400

56.00
. 0400

56. 00
.0400

45.00

45.00

45.00

45.00

45.00

45.00

44.75

44.00

44.00

44.00

44.00

10, 660
2,384
42

10, 451
2,605
47

10, 735
2, 632
28

10, 066
2, 366
31

9,076
2,781
31

8,535
2,322
24

8,036
2,511
26

7,294
2,147
32

7,830
2,176
31

8,126
2,085
66

7,570
1,961
59

Steel, Manufactured Products
Barrels and drums, steel, heavy types:
Orders, unfilled, end of month
_ _ thousands
Shipments
do
Stocks, end of month.
.__
do

7,737
2 008
58
r
Revised.
1 The Bureau of the Census estimated industry totals beginning May 1951 are based on reports from forge shops (shipping 50 tons or more per month) which account for over
95 percent of all forgings produced. For May, shipments by the additional plants increased total shipments 13 percent; for total unfilled orders, the adjusted May figure is increased 27
percent and also includes orders for the manufacturers' own use.
©Data beginning 1951 have been adjusted in accordance with the revised export schedule to exclude exports of tinplate, circles, strips, etc.
§Data beginning January 1951 are estimated totals derived from a survey of approximately 1,300 establishments by the Bureau of Mines and the Bureau of the Census.
tFor 1952, percent of capacity is calculated on annual capacity as of January 1, 1952, of 108,587,670 tons of steel; 1951 data are based on capacity as of January 1, 1951, of 104,229,650 tons.
cf Revised beginning in the April 1952 SURVEY to represent quotations per net ton.




SURVEY OF CURRENT BUSINESS

June 1952
Unless otherwise stated, statistics through
1950 and descriptive notes are shown in the
1951 Statistical Supplement to the Survey

S-33
1952

1951

April

May

June

July

August

September

October

November

December

235, 107
140, 325
94, 782
203, 902

January

February

March

234, 372
143, 997
90, 375
195, 980

266, 920
157, 279
109, 641
228, 841

April

METALS AND MANUFACTURES—Continued
IRON AND STEEL— Continued
Steel, Manufactured Products— Continued
Cans, metal, shipments (in terms of steel consumed),
total
short tons
Food
do
Nonfood
do
Shipments for sale _
_ _ _ do . _ _
Commercial closures, production
millions
Crowns, production
thousand gross
Steel products, net shipments:
Total
thous. of short tons _
Bars hot rolled— Carbon and alloy
do
Reinforcing
do
Semimanufactures
do
Pipe and tubes
do
Plates
do
Rails
do
Sheets
-_
do
Strip— Cold rolled
do
Hot rolled. _
do
Structural shapes, heavy
do
Tin plate and terneplate
do
Wire and wire products
do

276, 145
169, 462
106, 683
234, 605
1,485
31, 453

308, 227
206, 185
102, 042
259, 347
1,404
30, 282

309, 213
218, 700
90, 513
266, 927
1,313
28, 461

356, 274
263, 683
92, 591
318, 308
1,068
26, 861

483, 188
367, 257
115,931
428, 044
1,118
33, 638

417, 378
306, 610
110, 768
371, 686

6,635
736
141
272
757
653
162
1,821
184
217
412
361
495

6,939

6,646

5, 989

787
162
293
801
716
166

734
152
292
770
685
161

1,847

1,739

689
151
303
681
653
146

187
204
430
396
513

180
173
409
425
493

67, 701
223, 503

67, 720
180, 141

.1723
192.1
40.2
151.9
94.7
.378

263, 468
156,035
107, 433
229, 422
820

774

976

24, 692

374, 200
254, 635
119, 565
333,018
1,026
24, 625

19, 900

16, 903

22, 717

235, 648
144, 439
91, 209
199, 445
'896
24, 316

6,756

6,207

6,844

6, 411

712
160
314
719
657
139

6,509

6,589

6,358

6,890

744
184
322
785
691
165

748
162
313
777
708
146

797
168
285
811
707
156

757
158
268
795
711
138

1,617

1,548

778
155
283
784
666
136

801
193
317
872
784
162

1,719

785
170
315
809
684
165

1,716

1,590

1,644

1,534

1,609

191
185
407
430
492

1,693

128
146
397
347
345

162
185
386
358
456

184
199
442
394
505

165
184
421
327
479

154
180
409
352
441

180
186
427
298
477

158
171
437
359
448

156
170
431
478
465

67, 454
272, 903

72, 698
284, 318

73, 816
251, 283

69, 429
211,953

72, 647
275, 407

72 246
229, 563

72, 454
203, 624

76, 934
325, 071

72, 374
212, 481

77 069
311, 137

.1725

.1725

.0775

.0775

.0775

.0775

.0775

.0775

.0775

.0775

185.5
40.5
145. 0
91.8
.377

182.3
36.0
146.4
88.6
.373

159.8
27.4
132.4
82.7
.373

187.6
35.5
152.0
91.5
.375

161.7
32.5
129.2
77.5
.383

179.4
35.2
144.1
82.5
.383

171.5
32.4
139.2
78.8
.383

175. 2
40.9
134.3
75.5
.383

195.6
46.4
149. 1
81.3
.383

191.2
44.8
146.3
78.7
.383

82,459

83,779

75, 847

75, 407

67, 939

68, 989

81, 014

77, 294

79, 167

77, 691

r 72, 564

90, 794
103, 494
114, 744
52, 800
17, 652
43, 812
24, 047
19,765
.2420

96, 541
113, 513
118,113
60, 896
14, 041
46, 771
24, 892
21,879
.2420

87, 103
105, 127
114, 103
60, 912
13, 162
48, 624
30, 602
18, 020
.2420

82, 577
93, 258
101, 095
68, 045
13, 535
46, 606
32, 391
14, 215
.2420

73, 324
79, 613
104, 938
70, 937
6,714
58, 969
35, 935
23, 034
.2420

74, 165
74, 354
121, 879
62, 093
4,971
46, 566
27, 551
19,015
.2420

87, 896
104, 148
125, 286
78, 192
9,864
'r 42, 943
18, 164
r
24, 779
.2420

82, 617
103, 614
123, 646
68, 160
16 488
39, 694
13 131
26, 563
.2420

86, 680
98, 532
119, 577
71, 528
16, 599
36, 023
19, 231
16,792
.2420

83, 192
100, 269
130, 430
60, 836
1
10, 598
49, 583
16 677
32, 906
.2420

80, 876
95, 979
104, 795
59,747
12 842
41, 049
27 469
13, 580
.2420

r

33, 122
34, 618

33, 706
33, 198

32,312
32, 244

30, 194
29, 920

29, 686
29, 280

27, 620
27, 755

33, 110
31, 806

32, 326
28 775

33, 499
27, 273

' 34, 381
28, 501

34, 337
40, 148

r

44, 362
42, 033
29, 437

44, 951
40, 963
33, 420

39, 952
40, 041
33, 308

44, 864
44, 404
33, 504

31, 756
40, 252
24, 997

30, 474
31, 654
23, 640

34, 273
31,164
26, 742

36 234
37, 084
25, 871

36, 754
37, 274
25, 339

43, 746
40, 390
28 578

44 133
41 , 291
31 297

927

962

25, 357

NONFERROUS METALS AND PRODUCTS
Aluminum:
Production primary
short tons
Imports bauxite
long tons
Price, wholesale, scrap castings (N. Y.)
dol. per lb__
Aluminum fabricated products, shipments,
totaled
mil. oflbs
Castings
do
Wrought products, totald"_
.__ ___ do
Plate, sheet, and strip
do
Brass sheets, wholesale price, mill
dol. per lb_.
Copper:
Production:
Mine production, recoverable copper
short tons
Crude (mine or smelter, including custom intake)
short tons
Refined.
_ _
do
Deliveries, refined, domestic
. __do
Stocks, refined, end of month
_
do
Exports, refined and manufactured
do
Imports, total _ _
.
. _ _ __ do
Unrefined, including scrap
do
Refined
__
do
Price, wholesale, electrolytic (N. Y.)--dol. per lb__
Lead:
Ore (lead content) :
Mine production
short tons
Receipts by smelters, domestic ore
do
Refined (primary refineries) :
Production
do
Shipments (domestic)
_ _ _ _ _ _ _ do
Stocks, end of month
do
Price, wholesale, pig, desilverized (N. Y.)
dol. per lb__
Imports, total, except mfrs. (lead content)
short tonsTin:
Production, pig
long tons
Consumption, pig
__ _ _
_do
Stocks, pig, end of month, total §
do
Government,
do
Industrial,
_
do
Imports:
Ore (tin content) _ _ _
do
Bars, blocks, pigs, etc
_ _ do
Price, wholesale, Straits (N. Y.)
dol. per lb..
Zinc:
Mine production of recoverable zinc
short tons__
Slab zinc:
Production
do
Shipments, total
do
Domestic
do
Stocks, end of month
do
Price, wholesale, prime Western (St. Louis)
dol. per lb__
Imports, total (zinc content)
short tons.
For smelting, refining, and export
do.—
For domestic consumption:
Ore (zinc content)
do
Blocks, pigs, etc
do

r

r

.0775

.0775

200. 1
'46.4
153.6
82.9
.383

209.7
49.8
159.9
85.1
.383

78, 449
87, 110
94, 563
112, 625
58 487
15 303
48 273
25 929
22 344
.2420

89 423
98. 402
107, 355
61, 223

.2420

33 662
41 251

34 712

48 943
39 161
41 040

39 339
38 325
41 820

.1892

.1700

.1700

.1700

.1700

.1700

.1700

.1900

.1900

.1900

.1900

.1900

.1900

21, 628

11, 201

18, 397

11, 728

26, 950

13, 658

20, 707

20, 009

' 25, 756

15, 397

42, 460

81, 496

3,395
4,984
36, 232
17, 753
18, 244

3,420
5,295
35, 446
19, 906
15, 435

2,994
5, 093
32, 091
18, 105
13,917

2,701
4,719
31, 855
18, 944
12, 749

2,797
5,175
28, 393
16, 091
12, 236

2,414
4,947
27, 614
15 789
11, 790

2,353
5,014
24, 242
12 629
11, 508

2,055
4, 595
22 504
10 454
11, 909

1,972
4,397
19 646
8 556
11,018

1,984
4,879
15 094
4 868
10, 125

1 990
4, 524
13 490
3 810
9 567

2
4
18
9
9

2,204
2,274
1. 4583

1,349
1,213
1. 3996

2,924
1,868
1. 1805

2,663
2,321
1. 0600

2, 430
1,172
1. 0300

591

1, 865
1. 0300

4 545
1,969
1. 0300

'643
1,188
1. 0300

'1 820
1 591
1. 0300

1,005
1. 0973

1 472

821

598

1. 2150

7 752
1. 2150

1. 2150

56, 257

58, 779

56, 546

53, 126

54, 364

50, 118

60, 546

57, 195

57, 269

r 59, 523

59, 098

'61,292

61,515

77, 862
74, 419
69, 125
14, 548

80, 430
77, 567
73, 093
17, 411

77, 679
79, 299
74, 149
15, 791

78, 955
83,346
76, 461
11, 400

74, 035
74 191
65, 696
11, 244

70 623
64 632
58' 436
17, 235

79 432
73 583
68 ' 365
23, 084

79 376
77 419
70' 084
25, 041

81 769
84 909
73 594
21, 901

83 205
78 403
75 039
26, 703

77 2Q6
77 4/m
70 998
26, 551

'85 028
85 575
80' 121
26, 004

83 Oil
85 592
73' 818
23, 423

. 1750
23, 938
2,263

. 1750
' 30, 129
2,269

.1750
* 42, 735
2,878

.1750
' 19, 856
2,246

.1950
17, 556
2,309

. 1950
21,537
5,411

.1950
24, 061
6 473

.1950
18, 739
2,306

.1950
49, 225
4 996

. 1950
123, 605
6 821

.1950

10, 925
10, 750

* 13, 582
' 31, 624 ' 23, 726 ' 23, 539 r 12, 404
' 14, 278
8, 233
7,583
5, 206
5, 204

7,233
8,014

9,134
6,992

9 863
7,725

11 769
4,664

38 980
5,249

108 280
8,504

31, 080
71 374

19, 335
68 584

11, 168
69 677

11,318
73 039

10, 211
77 267

9,161
81 800

.1750
.1750
' 34, 366 r 32. 841
3,057
4,098

144

022
489
609
371
119

HEATING APPARATUS, EXCEPT
ELECTRIC
Boilers, radiators and convectors, cast iron:
Boilers (round and square):
Shipments
thous. of lb__
Stocks, end of month
do
Radiation:
Shipments
thous. of sq. ft..
Stocks, end of month
_.
do

12, 898
67, 150

10. 443
80 306

12, 770
86 777

11, 461
87 101

3,550
4,842

2,413
6,805

2,284
8,699

2,220
9,024

18, 748
87 007

22, 129
82 630

9,480
8 7 fi1 d.

4, 056
3,564
4,798
2,470
3,512
2,226
2,784
2,074
1.760
8,690
9,420
7,860
7,784
8,702
7.572
8,382
8,893
10,010
' Revised.
1 Data beginning 1952 are in accordance with the revised export schedule and include certain primary forms of copper manufactures formerly excluded' the value of such
exports amounted to about $1.5 million in January-September 1951.
cfSec note in June 1951 SURVEY regarding additional reporting companies beginning February 1951.
§Government stocks represent those available for industrial use; total stocks include small amount not distributed.




STJKVEY OF CURRENT BUSINESS

S-34
Unless otherwise stated, statistics through
1950 and descriptive notes are shown in the
1951 Statistical Supplement to the Survey

June 1952
1952

1951

April

May

June

July

August

September

October

November

December

January February

March

April

METALS AND MANUFACTURES—Continued
HEATING APPARATUS— Continued
Boilers range shipments
number
Oil burners:
Orders unfilled end of month
do
Shipments
do
Stocks, end of month
do
Stoves and ranges, domestic cooking, excl. electric:
Shipments, total
number _
Coal and wood
_ _-do
Gas (incl. bungalow and combination)___do
Kerosene, gasoline, and fuel oil
_ do
Stoves, domestic heating, shipments, total. ..do
Coal and wood
do
Gas
do
Kerosene, gasoline, and fuel oil
do _
Warm-air furnaces (forced-air and gravity-air flow),
shipments total
number
Gas
_
_ _ _
_do
Oil
do
Solid fuel
.
do .._
Water heaters, nonelectric, shipments
do

47, 407

47, 218

43, 174

28, 467

31,113

29, 819

30, 543

32, 370

26, 485

31, 193

28, 245

22, 202

23, 446

53, 729
46, 877
75, 071

52, 592
41, 984
88, 512

48, 487
47, 219
91, 674

53, 854
44, 503
94, 365

48, 433
63, 578
89, 038

48, 633
75, 421
83, 815

44, 987
92, 698
71, 476

35, 843
63, 705
71,886

38, 033
39, 830
76, 102

40, 256
45, 748
77, 518

36, 789
37, 792
80, 775

39, 163
40, 038
81, 408

36, 284
45, 481
80, 183

243, 574
8,447
225, 879
9,248

195, 121
7,911
178, 490
8,720

147, 757
9,201
129, 107
9,449

131,695
6, 313
116, 952
8,430

187,677
10, 028
169, 224
8,425

206, 276
11, 741
184, 815
9,720

236, 588
1 1 , 330
212, 168
13, 090

216, 048
11, 549
193, 123
11,376

168,114
9,470
150, 777
7,867

184, 275
9, 501
166, 669
8,105

187, 505
9, ,589
166, 687
11, 229

204, 657
8, 625
185, 751
10, 281

199, 605
7,475
182, 942
9,188

285, 184
55, 400
164, 258
65, 526

286, 878
66, 439
131, 847
88, 592

286, 533
69, 997
141, 063
75, 473

350, 491
77, 824
158, 146
114, 521

451,971
130,600
168, 005
153, 366

454, 222
136, 644
177,108
140, 470

575, 615
179, 021
241, 322
155, 272

452, 579
124,696
200, 348
127, 535

181,159
46, 528
78, 747
55, 884

145, 268
22, 761
63, 696
58,811

144, 462
19,318
60, 843
64, 301

154, 434
25, 450
64. 120
64, 864

147, 435
25, 381
62, 014
60, 040

60, 337
30, 033
19,616
10, 688
235, 355

56, 282
26, 897
19, 227
10, 158
200, 599

61,910
28, 232
22, 114
11, 564
163, 220

55, 045
23, 500
21,783
9,762
127, 046

77, 192
29, 780
30, 630
16,782
153, 809

87, 412
33, 329
37, 290
16, 793
160, 433

105. 689
40, 780
44, 326
20, 583
181, 623

83 667
36, 953
34, 766
11, 948
173, 056

55, 281
20, 771
22, 565
5, 945
146, 263

50, 002
24, 306
20, 498
5,198
171,337

48, 529
24,017
19,309
5,203
167, 335

51, 277
25, 797
20, 848
4, 032
172, 320

50 933
27, 029
19, 095
4, 209
176, 030

MACHINERY AND APPARATUS
Blowers, fans, and unit heaters, quarterly:
Blowers and fans new orders
thous of dol
TTnit heater group new orders
do
Foundry equipment (new), new orders,
net
1937-39=100
Furnaces, industrial, new orders:
Flectric
thous. of dol
Fuel-fired (except for hot rolling steel)
do
Machine tools:
New orders
.1945-47=100
Shipments
do
Mechanical stokers, sales:
Classes 1 2 and 3
number
Classes 4 and 5:
Number
_ _ _ _ Horsepower
Pumps, steam, power, centrifugal and rotary, new
orders
thous. of dol__

r

r
T

! 38, 069
14,583

1

490.1

3,657
8,497

431.7
4, 766
5, 044

r
r

32, 272
13, 572

30,167
13 449

30. 828
16 430

393. 2

390.3

404.5

346. 5

372.4

305.5

230.5

404.5

200.4

310.0

385. 1

3,370
6,279

5, 587
5,284

3,891
4,850

3, 250
1,821

3,172
6,374

2,882
2, 519

2,100
2,873

2, 856
3,379

1,363
2,418

2,100
1,809

2,298
3, 613

324. 3
* 299. 5

v 294. 4
•P 309 7

r

516. 1
157.7

483.0
175.1

558. 8
182.8

490. 6
144.7

488.9
178.9

380.2
189.8

403.9
221.3

330. 5
226.0

376. 5
264.7

347.8
266 6

318.8
279.6

1,176

974

1,327

1.391

2,825

3,001

3,189

1,998

1,095

1 327

1, 145

906

1 059

238
61, 785

239
60, 984

289
60, 010

152
35, 707

115
21,284

161
43, 931

115
57, 455

131
39, 165

130
50, 528

5,925

6, 354

177
72, 575

184
56, 624

234
78, 390

191
52, 155

7,583

6,371

6,852

8,358

5,911

6,552

6,506

5,908

5,553

5,517

6,020

1,614

2,112

1,696

1,551

911

ELECTRICAL EQUIPMENT
Batteries (automotive replacement only), ship1,790
1,400
1,366
merits
_ _ _
thousands
Domestic electrical appliances, sales billed:
242
154
183
"Refrigerators index
1936—100
194, 548
201,983
Vacuum cleaners, standard type
number.. 227, 216
298, 797
262, 734
261,648
Washers©
_
__ .
. _
do
1,399,962 1,417,828 1,120,417
Radio sets production*
do
Television sets (incl. combination), production*
352, 500
405, 000
number. _ 500, 000
Insulating materials and related products:
626
614
610
Insulating materials, sales billed, index 1936= 100
Fiber products:
Laminated fiber products, shipments §
8,626
8,911
8,583
thous. of dol. .
Vulcanized fiber:
5,383
4,185
5,233
Consumption of fiber paper
thous. of lb._
Shipments of vulcanized products
2,155
2,287
2,237
thous. of dol. .
Steel conduit (rigid) and fittings, shipments 9
27, 749
27, 464
27, 891
short tons..
Motors and generators, quarterly:
696
New orders index
1936 — 100
Polyphase induction motors, 1-200 hp:cf
56, 573
New orders
thous. of dol
48, 166
Billings
do
Direct current motors and generators, 1-200 hp.:cf
12, 779
New orders
thous. of dol_
7,690
Billings
do

r

2,118

2,055

2,498

728

804

97
161,002
143,436
491,413

97
191,299
242, 975
620, 956

114
210, 086
319,475
1,147,837

113
259, 469
304, 131
921,012

87
219,119
268, 645
823, 943

115
230, 263
224, 471
977, 977

153
230, 226
218,956
632, 455

153
235, 936
261, 512
759, 453

103
290, 092
254, 135
975, 892

217, 109
222, 200
847 940

148, 926

146, 705

337, 341

411,867

415, 332

467, 108

404, 933

409, 337

510, 561

322, 878

494

539

521

559

511

466

548

528

536

r

7,136

7,230

7,389

8,032

7,513

6,833

8,115

7,830

7, 796

7,899

4,701

5,461

4,802

5,462

4,711

4,170

4,836

4,484

4,210

4. 133

1,847

2,129

1,711

1,804

1,523

1, 232

1,646

1,618

1, 505

1, 430

23, 890

25, 017

25, 941

26, 680

26, 409

23, 871

25, 982

25, 530

27, 328

22, 767

600

573

44, 878
42, 438

44, 189
40, 722

42, 455
44, 820

9,160
5,832

10, 713
6,619

10, 165
9,410

PETROLEUM, COAL, AND PRODUCTS
COAL
Anthracite:
Production
_
.
thous. of short tons
Stocks in producers' storage yards, end of month
thous. of short tons__
Exports.
„
do
Prices, chestnut:
Retail, composite t
dol. per short ton
Wholesale, f. o. b. carat minet
...do
Bituminous:
Production..thous. of short tons
Industrial consumption and retail deliveries,
total
__
thous. of short tons..
Industrial consumption, total
_. . do
Beehive coke ovens
do
Byproduct coke ovens
_.
do
Cement mills
do
Electric-power utilities
_ do _
Railways (class I)
do
Steel and rolling mills
do
Other industrial .
do
Retail deliveries
... do

r

2,602

3,622

3,743

2,770

3,514

3,178

4,548

4,016

3,612

3,974

r 2 959

3 123

732
227

747
414

792
475

877
526

1,005
605

1,145
706

1,161
892

1,055
r
633

982
583

939
534

1,005
391

1,024
391

1,026

23 31
14. 513

r 23 31

r 23 31

14. 513

14. 513

23 31
14. 513

23 08
13. 394

»• 22. 92
13. 905

' 22. 15
13. 775

' 22. 46
13. 989

r

22. 62
14. 156

r

22. 85
14.319

23.00
14. 513

r

23 15
14. 513

r

23 31
14. 513

r

3 162

41 972

43, 362

43,536

34 103

47, 184

42 954

51 797

49 340

44 123

49 900

43 770

r 41 075

39 095

36, 955
31,912
905
8,413
685
7,583
4,798
671
8, 857
5,043

34, 592
31, 286
974
8,708
695
7,664
4,367
609
8.269
3,306

33, 869
30, 150
982
8,465
685
7,728
3 985
568
7, 787
3,719

33, 214
29, 602
836
8,706
699
7,743
3 814
534
7,270
3,612

36, 656
31, 521
990
8,742
701
8,625
4 064
579
7,820
5,135

35, 754
30, 190
850
8,454
688
8,288
3 902
544
7 464
5,564

40, 002
33, 244
971
8,691
728
9,236
4 252
625
8 741
6.758

41,435
34, 027
933
8,367
781
9,382
4 344
705
9 515
7.408

42, 803
34, 660
971
8,670
758
9 267
4 463
758
9 773
8.143

44, 284
34 895
998
8 758
740
9 540
4 301
775
9 783
9. 389

39, 587
31 757
927
8 171
673
8 434
3 877
743
8 932
7. 830

r

32, 636
28 422
685
7 627
608
7 781
3 321
582
7 818
4.214

39, 240
r 32 170
r §99

8 807
665
8 510
3 698
677
8 914
7.070

r Revised.
f Preliminary.
*New series. See note marked "*" on p. S-35.
©Figures through 1951 are estimated industry totals; thereafter, data cover reporting companie
onlyjrepresenting about 97 percent of total industry). _ § Data for January-August 1951 and beginning January 1952, cover 14 companies; September-December 1951, 15 companies.




i later.

SURVEY OF CURRENT BUSINESS

June 1952

S-35
1952

1951

Unless otherwise stated, statistics through
1950 and descriptive notes are shown in the
1951 Statistical Supplement to the Survey

April

May

June

July

August

September

October

November

December

January

Febru-

ary

March

April

PETROLEUM, COAL, AND PRODUCTS—Continued
COA L—-Continued
Bituminous — Continued
Consumption on vessels (bunker fuel)
thous. of short tons.Stocks, industrial and retail dealers', end of month,
total
thous. of short tons__
Industrial, total
do _
Byproduct coke ovens
do
Cement mills
do _
Electric-power utilities
do
Railways (class I)
do
Steel and rolling mills
do.--_
Other industrial
do
Retail dealers.
_ do __
Exports ._
do __
Prices:
Retail, composite!
dol per short ton
Wholesale:
Mine run, f o b car at minef
do
Prepared sizes, f. o. b. car at minef- - do
COKE
Production:
Beehive &
thous. of short tons
Oven (byproduct)
do
Petroleum coke
_
do
Stocks, end of month:
Byproduct plants, total _ _ _
do
A.t furnace plants
do
At merchant plants
_
do
Petroleum coke
_ _ _ _ _ _ _ _ do _
Export^
do
Price, beehive, Connellsville (furnace)
dol. per short ton__

90

110

98

93

96

86

104

91

35

19

19

16

76

72, 081
70, 550
16, 462
1,232
27, 571
4,739
1,143
19, 403
1,531

74, 807
73, 109
16, 175
1,266
29, 826

76, 992
75, 258
16, 247
1,333
31, 060

74, 100
72, 248
14, 035
1,316
31, 635

76, 245
74. 352
14, 426
1,353
33 098

1,168
19, 668
1,852

1,147
20, 083
1,893

77, 858
75, 948
15 123
1,508
34 104
4,163
1,151
19, 899
1,910

76, 636
74, 886
15, 270
1,424
33 398
4,172
1,181

1,276

1,750

75, 423
73. 792
14, 827
1,361
32, 692
4,161
1,213
19 538
1,631

77, 293
76, 042
16 727
1 276
32 724

1,195
20, 424
1,734

78, 019
76, 080
14 953
1,420
34 162
4,126
1,155
20 264
1,939

76, 474
74, 967
15, 786
1,342

1,232
20, 043
1,698

75, 414
73, 492
14, 449
1,339
32, 392
4,331
1,156
19, 825
1,922

1,507

1,322
19 694
1 251

78, 132
76, 801
16 652
1,236
33 617
4, 254
1,353
19 689
1 331

4,740

5,485

5,231

4,824

6,178

6,104

6,387

5,420

4,478

5,163

3,982

4 057

f 16. 06

«• 15. 73

r 15. 73

15. 82

«• 15 86

16 10

' 16 14

16 15

f 16. 16

16. 16

16 16

16 16

5.729
6. 588

5.677
6.583

5.769

5.658
6.533

5 646
6.581

5 680

6.679

5 697
6. 718

5 697

6.756

5.697
6.773

5. 697
6. 773

5.697
6.769

5 697
6 745

5 623
6 349

561
5, 911
286

608
6,122
335

616
6,152
319

547

5,923

5,882

637
6, 168
331

589

335

625
6 114
325

5,770

316

629
6 114
328

619

315

526
6,104
326

r 576

5,943

436
5 374

310

6 204
321

1, 410
1,219
191
125
59

1,445
1,211
233
123
62

1,395
1,135
260
112
90

1,518
1, 175
343
99
94

1 , 626
1 204
422
97
122

1,764
1,298
466
94
100

1 815
1 306
509
82
1">6

1,758
1 264
495
83
111

1,738
1 295
443
104
109

1,810
1 421
389
134
112

1,765
1,455
310
142
86

1 832
1 530
302
164
79

1 873
1 4 r )9
413

14. 750

14. 750

14. 750

14.750

14. 750

14. 750

14. 750

14. 750

14. 750

14. 750

14. 750

14. 750

14. 750

1,769
183, 800
91
185, 488

2,074
191, 268
94
199, 521

1,975
183, 898
97
197, 246

1,896
190, 362
95
200, 322

2, 307
193, 201
96
202, 721

187,816

1,975

2,014
197, 610
95
199, 826

2,040

97
196, 752

188, 149
97
198, 258

1,947
191, 650
98
206, 032

2, 151
192, 712
94
205, 829

1,929
184, 054
95
193, 524

2 101
198 028
93
205, 825

248, 170
65, 536
164, 934
17, 700

250, 847
67, 046

254, 276
65, 501

254, 900
64, 916

262, 266
65, 388

261. 100
65, 297

255, 783

254,
62,
173,
18,

255, 900
64, 614
173, 315
17, 971

259,126

4,567

4,999

6.610

625

4,426

r

4,245

r

15. 95

r

19,441

r

32,710
4,237
19,616

f

4,299

PETROLEUM AND PRODUCTS
Crude petroleum:
Wells completed
_
number
Production . _ _ _ _
thous. of bbl
Tie finery operations _ - __ percent of capacity-Consumption (runs to stills)
thous. of bbl _
Stocks, end of month:.?1
Gasoline-bearing in U. S., total
do_ A t refineries
_ _ _ _ _ d o
At tank farms arid in pipelines. __ _ _ _ d o _ _
O n leases
_ _ _ _ _ __ _ _ do

243, 180
63, 366
162, 444
17, 370

248,418
65, 365

165,500
17,553

166,077

17, 724

171,074

17, 701

171,730
18,254

179,173

17, 705

177,982

17, 821

62,311

175, 481
17, 991

007
436
471
100

63 612
177, 422
18 092

3, 615
1,791
2,342
Exports
_
do
2,320
2 199
2 303
2 211
2 939
2 361
1 947
1 858 r 2 147
16,019
15, 081
16 487
Imports
do
17,612
15 232
11 835
14 458
15 909
13' 050
14 083
14 186
14 473
2.570
2.570
2.570
Price (Oklahoma-Kansas) at wells-.dol. per bbl__
2.570
2.570
2.570
2. 570
2.570
2. 570
2.570
2.570
2. 570
2.570
Refined petroleum products:
Fuel oil:
Production:
35, 139
37, 500
37, 614
40 159
"Distillate fuel oil
thous. of bbl
38, 067
38 335
44 693
45 141
38 453
44 314
43 402
40 726
36, 908
39, 202
38, 303
Residual fuel oil
do
39, 516
40 693
37 993
36 843
39 111
41 483
37 944
39 482
38 352
Domestic demand:
32, 185
25,519
24, 277
24,132
Distillate fuel oil _ _ _
do
47 221
57 233
27 185
27 271
63 185
31 655
54 489
49 081
46, 841
44, 104
42, 153
Residual fuel oil. . _ _ _
___ __ do
39, 400
54, 382
39, 547
40, 454
50 982
56 246
49 796
45,016
50 721
Consumption by type of consumer:
4,508
4,544
4, 811
Electric-power plants. _
do
4,375
6, 295
5 949
4,775
5 072
5 222
6 068
5,440
5,038
4 204
3,889
2 851
3,658
3,415
Railways (class I)
do
3,338
3 244
3 032
2 767
3 517
3 218
3 313
3 486
6,663
6,753
5,790
Vessels (bunker oil)
do _
15, 484 !
6,177
6 447
6 906
6 491
6,750
6 250
6 331
6 317
6 760
Stocks, end of month:
1
55, 273
44, 736
67, 839
79, 437
80, 785
Distillate fuel oil
_
do
87, 432
96, 241
94, 917
55, 369
102, 561
66, 969
48
750
37 971
36, 910
39, 317
41, 566
45, 163
42 063 i 1 39 523
47 243
38 295
48 415
Residual fuel oil
do
48, 212
45 378
Exports:
r
r
1,884
1,361
1,149
2,280
1 854
1 894
2, 353
2,554
r 1 242
1 654
Distillate fuel oil
__ _
do
3 118
1 316
982
2,679
2,471
2,006
3,119
Residual fuel oil
_ _ _ _
do. _
3, 005
2,962
1,831
1,847
1,962
2,553
2 059
Prices, wholesale:
Distillate (New York Harbor, No. 2 fuc 1)
.091
.091
.091
dol. per gal__
.091
.091
.091
.091
.091
.091
.091
.091
.091
.091
1.750
1.750
1.750
Residual (Okla., No. 6 fuel)___dol. per bbl__
1. 750
1.750
1.650
1.650
1.750
1.650
1.690
1.500
1.500
1.400
Kerosene:
10, 698
Production
_ _ _ _ _ _ _ _ thous. of bbl
11,511
9, 815
10, 220
10, 915
12 171
13 040
12 083
10 506
11, 262
11 964
10 742
8,678
5,877
5,494
Domestic demand
do
6,490
10 171
6 640
6 455
14 960
16 744
16 633
14 608
12 853
1
16, 262
Stocks, e n d o f month-_ _ _ _ _ _ _ ___ _ do. . .
20, 331
24, 169
27, 277
24 933
30 241
33, 106
22 679
33, 382
29 948
18 530
16 817
185
667
Exports
_ _
do
388
592
217
703
1 326
387
752
1 000
538
747
Price, wholesale, bulk lots (New York Harbor)
.101
dol. per gal__
.101
.101
.101
.101
.101
.101
.101
.101
.101
.101
.101
.100
.Lubricants:
5,175
4 905
Production
thous. of bbl
5,454
5,094
5,241
5 379
5 157
5 432
4 921
5 144
4 456
4 963
3,550
2 990
2 327
3,850
3 632
Domestic demand
do
3 348
3 592
3 313
3 163
4 090
3 4°1
3 381
8,393
Stocks, refinery, end of month _ _ _ ___ do
8,451
8,444
8,662
8 914
8 875
8 866
9 617
9 856
10 049
9 111
10 169
1,377
1,477
1,593
1 387
1 527
1 499
1 429
1 357
1 236
Exports©
do
1 441
1 292
1 751
Price, wholesale, bright stock (midcontinent,
.290
.290
.290
f. o. b. Tulsa)
dol. per gal._
.290
.290
.290
.290
.290
.290
.290
.290
.290
.290
' Revised.
1 New basis. Comparable data for December 1951 (thous. bbl.): Distillate fuel, 85,872; residual fuel, 42,955; kerosene, 26,940.
tRevised series. Retail prices are weighted averages for large cities. Wholesale prices supersede former quotations on tracks, destination. Figures prior to 1951 will be published later.
§Revisions for 1950 will be shown later.
d*Includes stocks of heavy crude in California.
©Excludes "special category" exports not shown separately for security reasons.
NOTE FOR RADIO, TELEVISION SERIES, P. S-34. *New series. Compiled by the Radio-Television Manufacturers Association. Data represent industry totals based on reports
from both members and npnmembers of the association. Both private and company brands are included. Radio production comprises home, portable battery, automobile, and (beginning
1951) clock models; television sets include combination models. Monthly figures beginning 1947 will be shown later. Data for June, September, and December 1951 and March 1952 cover 5
weeks; other months, 4 weeks.




SUEVEY OF CURRENT BUSINESS

S-36

June 1952

1951

Unless otherwise stated, statistics through
1950 and descriptive notes are shown in the
1951 Statistical Supplement to the Survey

April

May

June

July

August

1952
September

October

December

January

95, 859

100, 039

98 551

93 134

99, 093

84, 976
18, 191

88, 800
18, 941

87 446
19, 058

82 052
18, 070

87, 096
18, 724

7,308
8,917
88, 702

7,702
8 838
84, 394

7 953
8 459
86, 863

6,988
8 113
82, 043

6,727
8,038
87, 065

105, 117
58, 160
6,911
8,379
r
4, 071

117, 235
70, 051
7,747
8 186
r
3, 476

136, 161
81 054
8 178
7 896
2 558

143, 910
87 458
8 002
8 585
2,144

152, 556
90, 695
8, 133
9,527
1,903

.104
.129
.203

.103
.129
.203

.103
.129
.200

.103
.129
.199

.104
.129
.201

6,390
5,266
7,726
3,853

6 555
5,435
8,277
4,356

6 409
5 480
8,399
4,483

6 137
4,875
8,503
4,421

6.922
5,848
8,529
4,507

November

February

March

April

PETROLEUM, COAL, AND PRODUCTS—Continued
PETROLEUM AND PRODUCTS— Continued
Refined petroleum products— Continued
Motor fuel:
All types:
87, 319
98, 799
Production total
thous. of bbl
96, 811
96, 154
98, 643
96, 115
98, 510
Gasoline and naphtha from crude petro87, 875
leum
thous of bbl
76, 826
85, 691
85, 417
87, 851
86, 942
85, 004
16, 646
15, 932
16, 708
16, 367
16, 977
17,069
18, 167
Natural gasoline and allied products do
Sales of 1. p. g. for fuel, etc., and transfers
5, 526
5, 195
5.575
6,053
6,215
6,599
5,958
of cvcle products
thous. of bbl
8,274
8,658
7,982
7,803
7,586
8,804
9,318
Used at refineries
do
101, 206
100, 188
96, 093
100, 476
99, 945
87, 430
91, 803
Domestic demand
do
Stocks, gasoline, end of month:
119, 769
113, 734
106, 704
123, 830
130, 501
101, 837
106, 547
Finished gasoline, total
do
79, 357
73, 652
70, 363
67, 250
61, 120
56, 984
58, 364
At refineries
do
7,826
8,687
7,748
7,742
6,963
8,431
7,600
Unfinished gasoline
do
9,079
9,003
8,522
10, 043
10 065
9,883
9,578
Natural gasoline and allied products do
2,239
1,846
4,027
3,438
4,103
3,293
2,520
Exports cf
do
Prices, gasoline:
Wholesale, refinery (Oklahoma) group 3
.104
.104
.104
.104
.104
.104
.104
dol. per gal__
.129
.129
.129
.129
.129
.129
.129
Wholesale, regular grade (N. Y.)*
do
.200
.202
.202
.201
.203
.201
.203
Retail, service stations, 50 cities
do
Aviation gasoline:
6,390
5,765
6,487
5, 523
6 265
5,931
5 950
Production total
thous of bbl
4,792
5,159
4,464
4,900
4, 663
4,426
4,853
100-octape and above
do
7,564
8,005
7,726
7,915
8,590
8,305
8, 595
Stocks total
do
3,925
3,895
3,844
4,369
4,006
4,053
3,817
100-octane and above
do__
Asphalt:
915, 600 1, 123. 600 1, 205, 600 1,286,700 1,363,600 1,247,100 1, 225, 300
Production
short tons
814,400
947, 800
Stocks, refinery, end of month
_ do. __ 1, 572, 500 1, 546, 900 1, 459, 300 1 , 296, 500 1 , 064, 200
Wax:
1 1 5, 920 104 440
100 520
131 320
113, 680
110 320
122 360
Production
thous of Ib
188, 440
193, 200
162 400
179, 200
197, 680
152, 600
168, 280
Stocks refinery end of month
do
Asphalt products, shipments:
4,840
5,865
6,552
5,006
4,739
5,497
4,839
Asphalt roofing, total _ ___ . _ thous. of squares..
Roll roofing and cap sheet:
1,492
1,008
1,333
1,196
1,062
1,065
980
Smooth-surfaced
do
1,086
1,145
1,385
1,357
1,049
1,056
1,618
Mineral-surfaced
_ _
-do
2,944
2,729
2,855
2,704
2,687
3,147
3,443
Shingles all types
do
150
135
178
186
144
128
268
Asphalt sidings
do
49, 770
59, 202
67, 044
50, 951
41,979
47, 166
64, 999
Saturated felts
short tons__

.100
.129
.202

884, 700
739, 300
719, 300
605, 600
671, 300
975, 600 1, 203, 600 1, 331, 500 1, 527, 300 1, 713, 500
101 080
196, 280

92 400
202, 440

98 280
194 040

100 240
190, 400

95, 480
199, 360

4,141

2,485

3,516

3,549

3,869

4,742

1,029
1 , 082
2,029
192
44, 742

634
656
1,195
120
32, 602

928
882
1,705
163
44, 641

876
861
1,811
144
46, 644

913
888
2,067
135
45, 957

1,019
1,046
2,676
126
52, 791

PULP, PAPER, AND PRINTING
PULP WOOD AND WASTE PAPER
Pulpwood:
Receipts
thous. of cords (128 cu. ft.).Consumption
do
Stocks end of month
do
Waste paper:
Receipts
short tons _
Consumption
_-do
Stocks end of month
-do
WOOD PULP
Production:
Total all grades
thous. of short tons
Bleached sulphate
short tons
Unbleached sulphate
do
Bleached sulphite
do
Unbleached sulphite
- do
Soda
do
Groundwood
do
Defibrated exploded, etc
do
Stocks, own pulp at pulp mills, end of month:
Total all grades
short tons__
Bleached sulphate
do
Unbleached sulphate
_
do
Bleached sulphite
do
Unbleached sulphite
do
Soda
do
Groundwood
_
do
Exports all grades total
Imports, all grades, total
Bleached sulphate
Unbleached sulphate
Bleached sulphite
Unbleached sulphite
Soda
Groundwood

_ _

do
do_ __
do
do
do
do
do
-do

1,968
2,224
4,179

2,214
2,339
4,050

2,383
2, 258
4,180

2,309
2, 104
4,388

2,720
2,293
4,819

2,288
2,124
4,980

2,503
2,366
5,118

2,172
2,305
4,987

2,213
2,102
5,072

2,699
2,339
5,445

2,561
2,227
5,775

2,482
2,332
5,915

1. 903
2,235
5, 586

878, 247
850, 183
479, 554

882, 722
890, 776
469, 658

847, 003
824,615
490, 788

722, 774
667, 582
547, 347

778, 627
757, 434
562, 352

676, 423
663, 649
576, 931

725, 043
724, 715
572, 481

644, 616
640, 925
586, 602

548, 752
544, 983
589, 340

665, 051
657, 518
593, 508

620, 775
632, 317
580, 809

647, 081
650, 550
576, 038

648, 860
639, 563
587, 731

'1,412
185,871
f 539, 912
r 198, 781

r 67, 394
38, 122
'210,170
98, 000

1,484
198, 043
567, 270
204, 644
65, 900
40, 607
222, 535
106, 000

1,400
188, 582
538, 139
191, 077
63, 253
34, 908
210, 681
101, 000

1,329
177, 229
522, 335
182, 262
58, 586
29, 921
197,911
94, 500

1,438
198, 499
550, 868
206, 044
61,287
38. 777
208, 437
98, 302

1,317
171, 930
505, 980
186, 638
61, 177
36, 941
194, 055
88, 000

1,470
198, 261
570, 792
209, 922
68, 807
39, 939
214,370
85, 319

1,416
197,916
548, 166
205, 199
61, 363
37, 957
203, 712
83, 192

1,277
167, 475
490, 399
191,814
62, 126
35, 526
192, 799
77, 195

1,436
199,797
559, 914
208, 833
63, 214
39, 480
207, 014
83, 501

1,373
199,614
523, 737
201, 035
59, 548
37, 651
194, 723
82, 763

1,456
211,906
552, 033
213, 340
61, 776
39, 041
214. 847
86, 773

1,375
195, 934
511,352
207, 095
59, 253
37,813
198, 464
89. 170

' r100, 006
12, 208
9,499
' 22, 136
13, 144
862
39, 953

102, 953
12, 994
10, 171
24, 583
11, 158
571
40, 487

110, 894
15,363
12,911
26, 138
10, 990
1,088
40, 841

111, 130
11, 830
13, 685
27, 997
12, 210
987
40, 852

105, 430
11,920
12, 542
26, 187
11, 579
803
38, 601

110, Oil
14,244
12,525
27, 160
13, 054
1,088
37, 954

106, 227
13, 650
12,871
26, 290
13,012
1,129
34, 432

102, 792
14, 142
12,413
23, 293
11,480
1,927
34, 880

107, 057
8,718
11, 462
29, 508
12, 184
1,816
37, 969

108, 352
11, 150
12, 583
26, 472
11,219
1, 540
39, 227

113, 520 ' 124, 064
12, 547
13, 369
14,339
16, 557
27, 902 ' 28, 662
10, 100
13, 407
1,781
' 1,973
38, 912
41,861

24, 282
228, 538
50, 867
36, 668
52, 594
52, 525
2,995
31, 714

19, 489
232, 277
51, 391
39, 253
49, 634
57, 787
2,717
29, 489

10, 711
213, 392
47 001
31, 179
50, 379
53, 221
2 625
27, 199

12,007
189, 442
45, 102
21, 664
46, 465
47, 888
2, 988
24, 715

12, 794
164,897
39, 227
23, 749
42, 862
35, 741
2, 489
19, 450

11,046
' 197, 934
r
47, 933
22, 060
44, 917
2, 859
27, 202

27, 758
172, 963
42, 268
17,928
44, 744
' 42. 242
2,767
r
21, 803

23, 583
' r169, 664
45, 368
18, 961
39, 849
41, 971
2 430
20, 106

14, 540
176, 358
43, 560
21, 858
42, 074
47, 656
2, 273
17, 974

24, 261
161, 847
47, 028
18,854
41,111
37, 294
2, 654
' 14, 086

2,220
1, 166
939
115

2,049
1,088
857
104

2, 105
1, 118
892
95

2,005
1,048
859
97

r

19, 048
180, 732
41, 549
22, 080
46 365
40, 383
3 007
26, 451

r

r

r

r

51,121

139, 539
14, 541
18,186
41,660
12, 150
2.161
42, 547

22, 068
155.331
43, 456
12,917
41, 648
34, 495
2, 573
19, 544

PAPER AND PAPER PRODUCTS
All paper and paperboard mills:
Paper and paperboard production, total
2,207
1,996
' 2, 321
2,406
2,283
thous. of short tons_.
r
974
1,106
1, 100
1,148
1,105
Paper (incl. building paper)
do
989
1,055
903
1,091
1,126
Paperboard
_
_
do
113
132
123
119
'130
Building board
do
r
Revised.
cfExcludes "special category" exports not shown separately for security reasons.
*New series. Prices are for bulk lots, f. o. b. refineries. Quotations prior to 1951 will be shown later.




2,018
1,043
873
103

1,847
1,022
743
82

'r 2, 071
1,095
r
881
95

2,014
1,051
867
97

SURVEY OF CURRENT BUSINESS

June 1952

Unless otherwise stated, statistics through
1950 and descriptive notes are shown in the
1951 Statistical Supplement to the Survey

S-37
1952

1951

April

May

June

July

August

Septem-

ber

October

Novem-

Decem-

January

ber

ber

Febru-

March

ary

April

PULP, PAPER, AND PRINTING—Continued
PAPER AND PAPER PRODUCTS— Con.
Paper, excl. building paper, newsprint, and paperboard (American Paper and Pulp Association):
Orders new
short tons__
Orders unfilled end of month
do
Production
do_ __
Shipments
do
Stocks end of month
do
Fine paper:
Orders new
do
Orders, unfilled, end of month
_~do_ _
Production
do
Shipments
_
do _ _
Stocks end of month
do
Printing paper:
Orders, new
__
do
Orders unfilled, end of month
.
do
Production
_
_ do
Shipments
do
Stocks, end of month
do
Price, wholesale, book paper, "A" grade, English finish, white, f. o. b. mill*__dol. per 1001b-_
Coarse paper:
Orders new
short tons
Orders, unfilled, end of month
do
Production
do
Shipments
do
Stocks end of month
do
Newsprint:
Canada (incl. Newfoundland):
Production
_ _ _ _ _ do
Shipments from mills
do
Stocks at mills, end of month
_
_ do
United States:
Consumption by publishers
_ do
Production _ ._ _
_
do
Shipments from mills
do
Stocks, end of month:
At mills
_ _ .. do
At publishers.
_ do
In transit to publishers
do
Imports
_
_ _._ _
_do
Price, rolls, contract, delivered to principal
ports*
_ - ^dol. per short ton
Paperboard (National Paperboard Association):
Orders new
_ _ _ short tons
Orders unfilled end of month
do
Production total
do
Percent of activity. - _ _
Paper products:
Shipping containers, corrugated and solid fiber,
shipments
mil. sq. ft. surface area__
Folding paper boxes, value:
Now orders
1936=100
Shipments
-- -- do_ _

905, 445
1, 013, 760
875, 512
877, 033
293,832

886, 155
988, 500
909, 757
901 , 561
301, 420

882,150
812, 496
984, 305 1,025,263
885, 285
783, 778
886, 429
770 991
300, 270
312, 183

854, 043
983 823
894, 740
895 659
311, 254

835, 693
982, 593
851, 819
837 409
325, 907

942, 156
976.913
946, 158
947 030
325, 035

819, 334
914,463
896, 957
881,877
340, 425

820, 265
870 769
861, 248
863 959
338, 617

962, 506
914 567
932, 288
911 745
326, 610

r
r
r

119, 245
147, 000
113, 501
112, 245
64, 885

106,722
137, 190
117, 785
117, 570
64, 470

113, 525
130, 810
117,902
119,902
62, 470

108,242
145, 100
95 741
98, 572
63 605

104, 721
133, 205
116 506
116, 652
63 459

109, 384
132, 655
110, 546
110, 422
63, 325

121 329
132, 495
123 623
121 489
65 959

100, 090
110,610
122, 649
121, 972
66, 635

106 947
122,703
118 200
119 040
65 795

136, 428
141, 965
126 753
125, 513
64 558

r
r

311,555
489, 770
296, 203
297, 1 85
110, 990

307, 316
482, 155
306,518
304, 555
112, 930

298, 390
496, 190
285, 183
284, 352
113, 760

268, 285
510, 150
254, 382
254 294
113 845

290,115
494, 705
304, 666
305 590
112, 920

278, 225
492, 795
286, 834
280,135
119, 619

320, 338
495 265
313, 1 61
317 865
114 915

264, 508
465, 945
297, 894
293, 829
118, 980

274, 755
447 761
291 707
292 939
117, 748

343, 367 r 288 745
475 000 r 475 i5Q
315,983
290 945
310 450 r 290 555
129, 798 r 130 180

842, 191
903, 374
865, 400
r 851 819
r
344, 664
114 955
138, 310
122 133
r
116 643
r 67 895

r

852, 639
871, 956
897, 609
882, 827
358, 885

797, 000
812 806
853 000
844 000
366, 950

108, 685
•• 120, 280
124, 286
'T122, 475
68, 710

107, 000
110, 000
121 000
116 000
72 250

fT 288, 510
470, 650
' 300, 805
r
296 007
«- 134, 975

271, 000
450 000
286, 000
285 000
136, 000

r
r
r
r

r

12.65

12.65

12.82

12. 82

12.98

13.15

13.15

13.15

13.15

291, 940
239, 175
285, 683
287, 582
73, 295

295, 860
236, 325
302, 948
298, 287
78, 005

297, 480
228, 315
305, 938
305, 490
78, 450

277, 783
235, 118
277 523
270, 980
84 993

302, 539
233, 895
303, 033
303, 762
84, 265

294, 386
236, 168
296, 567
292,113
88, 720

321 515
232, 340
3?4 031
325 340
87 411

313, 393
229, 708
321,882
316, 025
93, 520

291 794
217, 091
305 258
304 411
94 367

329, 159 r 286 297
192, 045 r 193, 108
320 281 r 293 068
317, 727 r 289 132
66 884 r 75 550

447, 551
443, 288
146,805

485, 723
486, 340
146, 188

464, 332
475, 034
135, 486

452 455
442, 966
144 975

484, 563
480, 581
148, 957

431, 082
427, 738
152, 301

492 475
497,410
147 366

471, 732
491, 020
128, 078

435, 287
461.455
101, 910

470 456
445, 212
127, 154

410, 723
89, 136
90 988

403, 233
96, 688
93 690

365, 324
94,331
97, 274

333, 440
92, 481
90 875

344, 470
101, 574
100 003

381, 437
90, 728
92 487

405 277
100, 339
97 791

402, 829
95, 847
99 301

387, 783
91, 763
91 721

6,959
322, 750
95, 340
396, 897

9,957
332, 601
86, 522
439, 586

7,014
358, 294
94, 331
' 426, 280

8,620
393,718
106 727
417, 120

10, 191
467, 052
77, 646
442, 100

8,432
439, 547
87, 037
358, 866

10 980
434, 841
100 292
458, 514

7,526
436, 244
107, 144
438, 140

7,568
430, 431
91, 765
403, 934

106. 75

106. 75

106. 75

109. 25

111.75

114.25

116. 75

116. 75

116.75

116.75

116. 75

116. 75

117 00

932, 200
933, 000
470, 800
537 600
890, 000 1, 002, 200
94
84

856, 000
458, 200
852, 500
86

961, 900
487 800
951, 700
87

804, 500
365, 400
866, 300
82

798, 300
358 700
789, 900
75

883, 200
405 500
835 000
81

829, 300
355 200
867 800
86

923, 000
380 400
880 500
85

875 600
417 600
869 500
82

5,935

5, 765

636 9
630 2

581 3
614 6

962, 700
1, 019, 300 1, 112, 100
548, 000
658, 700
646, 900
1, 049, 100 1, 128, 200 1, 058, 500
103
105
104
'i 7, 393

r

7, 350

r

6, 433

r

' 3 736. 4
' * 777. 2

r
f

672. 7
774. 7

r
f

616. 7
744. 2

r

5, 278

r

594. 0
' 594. 1

r

5, 940

r

616. 7
' 702. 5

r
r

5,511

476. 8
629. 2

r

r

r

6, 055

r

5, 399

r

615.9
' 747. 6

r
r

555 7
650. 8

r

r

13.15

r

13.55

294, 625
'r 187, 220
307
123
r
300, 510
82 500

261 000
160, 000
285 000
284 000
84 000

457 835
441, 349
143 640

476 492
453, 162
166 970

471 235
468, 018
170 187

345 315
97, 216
95 046

348 630
94 759
96 982

399, 258
99, 633
98 696

393 470
94 767
94 250

9,738
460, 378
89 491
385, 574

7
475
99
398

8,452
457, 617
87 887
416, 439

8 969
460 475
72 475

5, 642

498 1
' 528 0

13.55

13.55

r
r

515
502
741
936

5,550

5,569

654 6
639 8

fr 608. 8
619. 0

r
r

PRINTING

1,145
879
266

969
759
210

878
678
200

Book publication, total __ _ _ number of editions- _
New books
do
New editions
_ _ _ _
do

751
549
202

940
743
197

638
466
172

1,172
963
209

1,083
211

720
557
163

723
575
148

1,371
1 081
290

1 055
855
200

35, 037
63 689
57 378

33, 256
76 569
45 364

36, 776
81 627
83 283

34 642
82 671
76' 383

r 35 489
r 55 986
85 172

36 699
65 215

980
781
199

RUBBER AND RUBBER PRODUCTS
RUBBER
Natural rubber:
Consumption
_ _
_ _
_ _ _ long tonsStocks end of month
do
Imports, including latex and guayule
do
Price, wholesale, smoked sheets (New York)
dol. per lb__
Chemical (synthetic):
Production
_
_
long tons
Consumption
do
Stocks, end of month
_
do_ __
Exports
_ _ _ _ _ _ __
_ _ _ _ _ __do_ _
Reclaimed rubber:
Production
_
_ _ _ ,._ _
do
Consumption
_ _ do
Stocks, end of month
do

39, 508
71, 679
60, 912

42, 445
68, 498
42, 371

39, 998
68, 369
56, 411

35, 478
67, 816
73, 586

36, 506
67 491
71, 121

36, 887
56, 941
61, 200

37, 407
63 501
55 214

.675

.660

.660

.520

.520

.520

.520

.520

.520

.520

66, 414
58, 787
65, 793
585

70, 541
65, 027
70, 276

74, 188
64, 718
78, 154

76, 250
61,419
89, 527

74, 951
67 260
96, 382

573

79, 285
68 923
109, 407

617

968

777

70, 870
88, 460
99, 889
1,008

550

73, 045
65 403
116,910
1 190

76 958
60 421
129 952
1 430

75 214
69 430
137 785
1 831

34, 293
32, 428
39, 064

35, 051
34, 148
39, 098

33, 509
30, 999
40, 268

29, 999
25, 500
44, 347

29, 035
28, 598
43, 900

26, 885
26, 226
43, 095

29, 611
27, 744
44 367

25, 453
24, 509
44, 049

23 677
22 044
45 082

27 755
26 553
45 067

r

r7
7
2
4

r

r (3 441
r
4 517
1 800

.505
73
65
144
2

807
767
279
141

23 883
24 518
43 306

.505
78
r (38
r 150
3

.485

166
744
094
490

76 457
68 059
159 142

r 22 808
r 24 7Q7
r 40 579

24 126
23 906
40 903

TIRES AND TUBES
Pneumatic casings:
Production
Shipments, total _ _
_
_
_ __
Original equipment
Replacement equipment
Export
Stocks, end of month
Exports©
-_
- - - Inner tubes:
Production §
__ - _ _ _ _ _
Shipments^
Stocks, end of month§
Exports
_

thousands
_
_ do
do
do
do
do
- - do
__

do
do
do
_ _ do

r 2 6, 532
«• 2 6, 233
2, 758
3, 388

r 2
r 2

r
r
r
r

r 2 87

2

3, 047

r

106
r 2
r 2
r 2

5, 586
5 COS
4, 670

63

7,107
6, 704
2, 695
3, 883
r 126
2, 992

r

r
r
r
T

r
5, 645
r 5 592
5, 087

52

r

r
r

r
r

5, 392
5 500
5 307

63

6, 718
6, 584
2 361
4, 108

r

r
r

115
3,586
108

118

88

r

7, 21 2
7. 155
2, 606
4, 407
r
142
3, 508

r

5 179
r 5 042
5 685

57

7, 533
7, 145
2 813
4 211

1?0

r
r

7, 414
6, 640
2 519
3, 950

171

771
050
553
315

181

7 374
6,081
T 2 391
3 501

188

r 2 519

198

4 033

r 4 740

5 514

6 888

r 8 765

126

147

129

161

210

r

r 5 143
r 3 55g

r 5 729
6 272

5 695

r 6 270

r r, 042
r 6 831

r 5 f,03

7 471

r 5 550
r 4 803
8 378

r 10 094

88

101

94

121

144

r

6 141

872
529
140
243
146
10 039
150

463
184
301
721
163
11 370
164

786
134
484
512
137
13 043
' 181

7 129
6 967
2 814
4' 038
115
13 295

5 582
5 475
10 343
93

5 138
4 958
10 507
125

5 497
5 034
10 900
105

5 481
5 305
ll' 013

7
6
2
4

7
6
2
3

7
6
2
3

' Revised.
1 Revisions for January-March 1951 (units as above): 7,793; 6,776; 8,032.
2 Revisions for January-March 1951 (thousands): casings—production, 6,749; 5,875; 6,679; shipments, total, 6,949; 6,163; 7,223; original equipment, 3,035; 3,002; 3,619; replacement, 3,800; 3,047; 3,482; export, 113; 113; 122; stocks, 3,552; 3,307; 2,803; tubes (incl. motorcycle tubes)—production,
5,872; 5,076; 5,750; shipments, 6,570; 5,890; 6,575; stocks, 5,868; 5,170; 4,634.
3 Revisions for January-March 1951 (1936=100): New orders, 900.8; 880.4; 879~0; shipments, 741.8; 726.7; 852.9.
*New series.
Compiled by the U. S. Department of Labor, Bureau of Labor Statistics; monthly data beginning 1947 will be shown later.
GExcludes "special category" exports not shown separately for security reasons.
§Includes data for motorcycles.




SURVEY OF CURRENT BUSINESS

S-38
Unless otherwise stated, statistics through
1950 and descriptive notes are shown in the
1951 Statistical Supplement to the Survey

.Tune 1052

1951
April

May

June

July

August

1952
September

October

November

December

January

February

March

159, 041

162, 959

174, 155

April

STONE, CLAY, AND GLASS PRODUCTS
ABRASIVE PRODUCTS
Coated abrasive paper and cloth, shipments., reams. _

179, 507

191, 138

162,002

161, 093

174, 180

171, 584

20,184
91
20, 921
22, 511
8,194

21,924
96
24, 867
19, 566
7,482

21,P84
99
24, 916
16, 630
6,682

22, 439
98
24, 259
14,812
5, 601

22, 514
98
25, 841
11,491
4,851

553, 468
552, 881

605, 304
599, 905

600,516
577, 686

571,338
540, 545

603, 781
571, 081

195, 139

188, 389

132, 524

22, 269

22 797

20, 737

19, 874

99

93

85

17 039

16 545

IS 095

19 817

23, 253
10, 499
4,138

26, 134
7, 162
3,544

17, 994
9,910
3,882

11,791
17 993
4,711

12, 696
22 336
7,056

14, 362
24 519
8,987

15, 993
r
26 622
r
!0 741

21 764
24 675
10 353

538, 774
516, 533

591,281
578, 080

532, 937
466, 690

436, 552
342, 901

406, 229
353 812

392, 482
378 321

434, 789
411 819

484, 468
492 488

185, 451

PORTLAND CEMENT
Production
Percent of capacity
Shipments
Stocks finished end of month
Stocks, clinker, end of month __

thous. of bbl
thous. of bbl__
do
do

100

73

76

78

86

CLAY PRODUCTS
Brick, un glazed:
Production
thous. of standard brick..
Shipments
do
Price, wholesale, common, composite, f. o. b.
plantf
...dol. per thous__
Clay sewer pipe, vitrified:
Production.
__ _ short tons..
Shipments
do
Structural tile, unglazed:
Production
do
Shipments
_ do

27. 317

27. 317

27.317

27. 317

27. 317

27. 366

27. 366

27. 366

27. 366

27. 317

27. 317

27.317

27. 217

142,356
134, 777

144, 666
141,774

138,922
137, 142

137, 727
141, 255

151, 181
15JO, 323

137, 430
135, 057

158,121
154 034

141,154
121 239

124. 993
82 546

134, 045
86 576

127, 442
97, 107

139, 685
118 092

139, 573
139 744

105, 268
108, 653

106, 045
108, 866

104, 547
105, 045

101, 903
100, 040

103, 493
101, 782

93, 164
94, 063

1 01 , 922
100, 142

98, 965
85, 529

84 411
66, 682

81 948
71, 403

78 061
75, 617

76 119
69, 494

82, 647
84, 813

11,075
9,583

10, 849
10, 390

10, 489
9,847

10, 355
9,372

10, 575
10, 543

9,134
9,397

9,341
8,948

7,804
7,714

7,603
7,568

8,941
8 485

8,783
8,053

9,400
9,005

9 T 523
9 577

GLASS PRODUCTS
Glass containers:
Production
thous. of gross..
Shipments, domestic, total
do
General-use food:
Narrow-neck food
do
Wide-mouth food (incl. packers' tumblers,
jelly glasses, and fruit jars)..thous. of gross..
Beverage (returnable and nonreturnable)
thous. of gross..
Beer bottles
. do ...
Liquor and wine
do
Medicinal and toilet
do
Chemical, household and industrial
do
Dairy products
_ _ _ _ do
Stocks end of month
do
Other glassware, machine-made:
Tumblers:
Production, __
thous. of dozens..
Shipments
do
Stocks
do
Table, kitchen, and householdware, shipments
thous. of dozens

1,067

999

908

738

1,125

1,432

1,072

632

674

783

859

881

1,125

2,332

2,666

2,410

2,416

2,782

2,281

2,426

2,122

1,885

2,498

2,123

2,400

2,474

617
1,190
931
2,389
823
235
9,293

803
1,468
880
2,426
878
271
9,426

969
1,786
730
1,965
823
255
9,714

858
1,848
746
1,805
695
266
10, 375

602
2,279

332
1,344
1,171
1,782

297
746
1,328
1,985

319
840
1,097
1,810

532
873

525
841

503
874

655
806

741

840

979

2,161

1,962

2,272

693
199

783
228

767
700
1,061
2, 355

10, 216

7,534
6,851
10, 933

7,292
6,760
11,381

6,384
5,737
11, 974

3,439

3,408

2,682

805
1,901

722
326

906

1,795

782
312

634
260

572
330

10, 102

717
338
9,839

9,884

9,710

9,453

9,635

10, 093

5,560
5,733
11, 769

5,807
5, 331
12, 256

4,656
4,387
12, 556

4,966
5,414
11, 978

3,889
4, 645
11,228

3,800
3 352
11, 579

4,883
4 473
11 837

5,136
5 514
9 989

2,766

3,506

2,892

3,459

3,368

2,589

3,005

3,857

3,431

13, 465
13 495
28 748

13, 250
13 961
28 037

679
258

r

5, 357
5 061
10, 241

850
244
9 863

4,701
4,987
9,892

GYPSUM AND PRODUCTS
Crude gypsum, quarterly total:
Imports
thous of short tons
Production
do
Calcined production quarterly total
do
Gypsum products sold or used, quarterly total:
Uncalcined
short tons
Calcined:
For building uses:
T5o,so-coat plasters
do
Keene's cement
do
All other building plasters
do
Lath
thous. of sq. it-Tile
do
\Vallboard of
do
Industrial plasters
short tons

664
2,305
1,981

1 171
2 971
1,977

2 027
1 681

656, 070

588, 584

636 366

591,646
15,053
154 610
745, 224
10,710
877, 893
71,181

590, 559
13, 711
169,219
704, 333
9,386
855, 222
68, 612

471 072
10, 648
146 036
602, 500
7 T 763
776 854
71,377

859

TEXTILE PRODUCTS
CLOTHING
Hosiery:
Production _
__ _ ..thous. of dozen pairs. .
Shipments
do
Stocks end of month
do

13, 143
11 875
27, 048

12, 943
10 983
29, 008

12, 163
11 453
30, 208

9,383
9 259
30, 332

1 2, 670
12 929
30, 073

1 ! , 862
12 605
29, 330

13,617
14 374
28, 573

12, 928
13 986
27, 515

11, 393
11 611
28, 199

13, 945
13 366
28, 778

12, 803

13, 554

14, 508

730, 817

672, 715

922 559

768 889

15, 130
736 535

847 444

12, 128
12, 037
4,754
5 886
1,397
92

10, 759
10, 672
3,492
5,644
1,536
87

9,060
8 981
2,421
4 920
1,639
80

7,638
7 537
1 503
4 394
1 640
101

6,351
6 254
8*7
3 773
1 594
97

5,100
5 003
481
2 992
1 530
97

13, 476
13 551
28 087

COTTON
Cotton (exclusive of linters) :
Production:
Ginnings§
thous. of running bales. _
224
2,014
10, 022
5,468
Crop estimate, equivalent 500-lb. bales
thous. of b^les.754, 119
832, 561
817, 154
722, 004
Consumption^
bales
985, 227
768, 072
905 062
Stocks in the United States, end of month,
2,278
16, 198
13, 646
2,958
15, 125
totall
thous. of bales-3,822
f-, 008
2,166
Domestic cotton, total
_ do
15, 022
4,906
3,716
2,848
16, 090
13, 550
134
13, 652
On farms and in transit
_ .
do 125
10, 734
227
108
6,840
719
Public storage and compresses
do
1 034
2 403
1 586
3 289
5 514
1 438
Consuming establishments
do
2, 022
1,313
999
2. 276
1,196
1,690
1,000
112
Foreign cotton, total
do
102
106
103
108
110
96
1
'Revised.
t Revised series. Data beginning 1947 will be shown later.
Total ginnings of 1951 crop.
cf Includes laminated board, reported as component board.
§Total ginnings to end of month indicated.
JData for April, July, and October 1951 and January and April 1952 cover 5-week periods and for other months, 4 weeks; stocks




1 15, 058
1

are for end of period covered.

SUKVEY OF CUKKENT BUSINESS

June 1952
Unless otherwise stated, statistics through
1950 and descriptive notes are shown in the
1951 Statistical Supplement to the Survey

S-39

1951

April

May

June

July

August

1952
"tT

October

Novem-

Decem-

ber

January

February

March

ber

April

TEXTILE PRODUCTS—Continued
COTTON—Continued
Cotton (exclusive of linters)— Continued
Exports
bales
Imports
do
Prices received by farmers
cents per lb_
Prices, wholesale, middling, ^le", average, 10
markets
_ _, _
cents per lb_
Cotton linters :^
Consumption
thous. of bales. _
Production
do _
Stocks end of month
do

480, 085
9,740
'42.5

371, 417
16, 102
42.5

204,006
18,412
42.0

129, 144
7,529
39.1

145, 758
3,679
34,6

356, 209
2,320
33.7

583, 927
5,722
36.2

803, 580
1,046
41.0

979, 762
2,214
40.3

676 400
15, 453
38.7

587 763
35, 470
37.3

419 304
1 652
36.7

37.3

45.2

45.2

45.2

40.1

35.0

35.1

36.9

41.5

42.2

41.9

40.6

40.8

40.7

111
52
468

115
36
398

96
31
327

90
21
260

88
64
231

114
175
272

136
267
367

131
247
460

117
205
538

118
221
620

120
174
629

108
140
655

98
99
630

73, 856
3,950

72, 428
4,807

2,651
73, 786
2,614

63, 092
2,497

63, 850
1,935

2,279
65, 408
2,174

53, 745
' 1, 609

64, 127
1,690

2,302
77, 431
1,846

62 133
1 883

72 255
1 999

45.60
43.7
24.8
25.8

42.57
44.9
23.8
25.1

39.77
46. 6
23.0
23.0

38.77
45.4

20.9

37.62
41.5
17.4
18.1

33.88
40.5
17.2
18.1

31.20
40.7
17.1
18.4

28. 72
41.6
17.8
19.3

29.95
42.7
18.1
19.8

29.04
42.7
17.8
19.4

28. 45
42.7
17.0
18.8

26.61
42.7
16.5
18.0

25.83
42.7
16.4
17.3

.921
1.176

.915
1.176

.867
1.127

.806
1.058

.767
.968

.720
.926

.712
.911

.769
.948

.791
.960

3
784
31.069

755
1.035

738
1.019

21, 134
19, 903
12, 447
505
11. 699
136.4

21, 770
20, 516
10, 399
533
9,768
144.1

22, 145
20, 910
10, 287
514
9,677
138.9

22, 128
20, 871
9, 858
411
9,241
110.7

22, 000
20, 755
9, 368
468
8,786
126.3

21,895
20, 714
9,247
474
8,745
127.8

21, 609
20, 394
11,393
460
10, 721
124.1

21, 758
20, 519
9,050
464
8,486
125.4

21, 516
20, 264
8,336
439
7,823
118.4

21,360
20, 102
11,399
465
10, 686
125.8

21,126
19, 854
9,265
471
8,696
127.3

21, 159
19, 885
9, 040
452
8,478
122.3

20, 910
19, 613
10, 607
424
9, 948
114.5

79.8
27.2

81.9
29.2

83.4
26.3

78.7
28.4

69.6
28.5

57.1
24.8

56.4
26.0

56.9
27.0

57.5
23.9

'63.0
27.3

57.8
23.6

55.6
'19.9

57.4
21.7

10.1
3.6
8,767

11.3
4.7
5,310

12.7
4.2
9,696

20.0
4.9
9,738

36.1
6.1
7,810

54.2
8.7
7,591

73.2
9.4
6,506

84.2
10.7
5,149

91.3
15.2
5, 946

'97.4
15.3
8,011

99.3
15.7
9,509

101.7
'18. 1
11,194

98.9
18.6

.780
.400

.780
.400

.780
.400

.780
.400

.780
.400

.780
.400

.780
.400

.780
.400

.780
.400

.780
.400

.780
.400

.780
. 400

.780
.400

499

395

375

364

677

645

842

708

848

1,524

1,205

975

5.17

4.58

4.37

4.30

4.13

4.42

4.65

4.68

4.78

4.82

4.97

4.91

30,700
33, 376
2,395
6,560
' 45, 211 33, 761

28, 892
4,388
41, 850

31, 700
27, 392
4,500
7,895
' 23, 340 32, 026

25, 368
6,728
29, 665

25, 116
7,084
39, 649

29, 330
11,005
42 487

2

2

COTTON MANUFACTURES
Cotton cloth:
Cotton broad-woven goods over 12 inches in width,
production quarterly <f mil of linear yards
Exports
thous. of sq. yd
Imports
do
Prices, wholesale:
Mill margins
cents per Ib
Denim, 28-inch*
cents per yd_
Print cloth 39-inch 68 x 72*
do
Sheeting, in gray, 40-inch, 48 x 44-48*
do
Cotton yarn, Southern, prices, wholesale, mill:
22/1, carded, white, cones.-—
dol. per lb__
40/1, twisted, carded, skeins do _
Spindle activity (cotton system spindles):^
Active spindles, last working day, total. __thous__
Consuming 100 percent cotton
do
Spindle hours operated, all fibers, total.mil. of hr_.
Average per working day
do
Consuming 100 percent cotton
do _
Operations as percent of capacity

0)

r

' 2 359
73 609
1 434

RAYON AND MANUFACTURES AND SILK
Rayon yarn and staple fiber:
Consumption:
Filament yarn
mil. of lb_
Staple
fiber
do _
Stocks, producers', end of month:
Filament yarn
do _
Staple
fiber
.
do _
Imports
thous. of lb__
Prices, wholesale:
Yarn, viscose, 150 denier, filament, f. o. b. shipping point*
dol. per lb_
Staple fiber, viscose, iMs denier _
do _
Rayon broad-woven goods, production, quarterly d"
thous of linear yards
Silk, raw:
Imports
thous. of Ib
Price, wholesale, white, Japanese, 20/22 denier,
87% (A A), f. o. b. warehouse 9
dol. perlb_.

411, 100

596, 707

r

425, 004

445, 602

4.89

WOOL
Consumption (scoured basis) :§
Apparel class
thous. of lb_.
Carpet class
_
do
Imports
do_ _ _
Prices, wholesale, Boston:
Raw, territory, 64s, 70s, 80s, scoured- __dol. per lb__
Raw, bright fleece, 56s, 58s, greasy, 47 percent
shrinkage
._
.dol. perlb__
Australian, 64s, 70s, good topmaking, scoured, in
bond
__dol. per lb._

42, 940
12, 270
74, 872
2

r

33, 724
7,200
55, 253

2

2

2

2

2

1.962

2 1. 850

.872

2.730

.770

2.762

.740

2. 200

2 1. 825

2 1. 820

2 1. 750

110
1,685
11

139
1,908
13

141
1,772
14

124
1,750
9

130
1,787
10

116
64

46
25

89
45

89
41

98
43

75, 376
104, 316
185

79, 070
100, 875
184

58, 540
75, 843
131

71, 567
83, 351
142

67, 806
77, 342
129

59, 248
6,524
41, 320
11, 404

59, 376
6,336
42, 160
10, 880

50, 665
5, 315
40, 225
5,125

52, 356
6,008
39, 036
7,312

48, 648
5,416
36, 520
6,712

3. 338

3.130

1.325

1.236

1.125

2 3. 275

2 3. 010

2 2. 825

124
2,258
21

140
2,200
25

145
2,252
18

148
73

120
64

76, 926
111, 730
200
76, 445
8,655
50, 235
17, 555

2. 850

2. 600

.982
2

2. 450

2

2. 230

1.825

1. 980

r

1. 820

24, 756
9,720
40 557

23 932
9, 236
42 820

2 1.644

2

1. 600

2

1. 580

.644

.638

.598

1. 725

2 1. 562

2 1. 375

1.375

129
1,763
13

130
1,745
14

r

M39
1,735

18

150
1,593
19

96
41

100
46

112
47

126
50

128
51

69, 869
77, 098
124

72, 835
76, 698
120

70, 034
72, 078
119

70, 037
68, 175
110

' 73, 268 68,079
' 74, 786 72, 644
121
119

61 , 670
6,795
44, 465
10, 410

51, 232
5,572
36, 708
8,952

49,004
4,856
35, 364
8,784

60, 710
6,150
40, 305
14, 255

r

2

1. 650

.722
2

WOOL MANUFACTURES
Machinery activity (weekly average) :§
Looms:©
Woolen and worsted:
Pile and Jacquard... thous. of active hours. _
Broad__
.do
Narrow
__
do
Carpet and rug:
Broad
.
-do
Narrow
do
Spinning spindles:
Woolen
do
Worsted0
do
Worsted combs
.
do
Wool yarn:
Production total §®
thous. of Ib
Knitting§
do
Weaving§
do
Carpet and other§
__do
Price, wholesale, worsted yarn (Bradford
machine knitting system) 2/20s*___dol. per lb._

r

53, 472
* 6, 092
35, 768
'11,612

50, 812
5,356
33, 996
11, 460

2.817
2.695
2.358
2.477
2.453
2.389
2.286
2.410
2,219
2.110
l
2
3
Revised.
No quotation.
Nominal price.
Substituted series. Quotations cover cotton yarns, natural stock, on cones or tubes, f. o. b. mill; $0.784, carded weaving yarn; $1.069,
combed knitting yarn. Earlier data are not available for publication.
H Data for April, July, and October 1951 and January and April 1952 cover 5-week periods and for other months, 4 weeks; stock data and number of active spindles are for end of period
covered.
cfBeginnmg 1951, production of broad-woven goods is classified according to principal fiber content; production of fabrics containing 25.0-49.9 percent wool (which cannot be distributed
between cotton and rayon goods) and rayon and cotton fabrics produced on woolen and worsted looms amounted to approximately 73 million yards in 1950.
9 Substituted series. Data beginning January 1950 will be shown later.
§Data for April, July, and October, 1951 and January 1952 cover 5-week periods; other months, 4 weeks.
©Beginning 1951, looms weaving fabrics principally wool by weight.
©See note in August 1951 SURVEY regarding coverage of operations in cotton mills beginning with January 1951 data.
*New series. Compiled by the U. S. Department of Labor, Bureau of Labor Statistics; monthly data beginning 1947 will be shown later.
r




SURVEY OF CURKENT BUSINESS

S-40
Unless otherwise stated, statistics through
1950 and descriptive notes are shown in the
1951 Statistical Supplement to the Survey

June 1952
1952

1951

May

April

August

July

June

September

October

November

December

January

February

March

April

TEXTILE PRODUCTS—Continued
WOOL MANUFACTURES— Continued
Woolen and worsted woven goods, except woven
felts :t
Production quarterlv total
thous of lin yd
Apparel fabrics total
do
Mien's and boys'
"W omen's and children's
Nonapparel fabrics total
Blanketing:

96, 746
79, 874
23, 451
56, 423
29, 666
26, 757
16, 872
8,065
8,807

do
do
do
do

Prices, wholesale, f. o. b. mill:
Suiting gabardine 56"/58"*
dol. per yd_
Women's dress goods, flannel, 8 oz., 54-inch
dol per yd__

0)

3.302

84, 570
68, 903
32, 474
36, 429
17, 180
19,249
15 667
9, 560
6 107

90, 034
76,414
29 513
46, 901
19 868
27, 033
13 620
7 989
5 631

4.562

4.381

4.381

4.381

3.572

3.713

3.302

3,302

3.302

3.302

2.722

2.722

3.713

87 067
75, 494
23 102
52, 392
24 658
27, 734
11 573
6 611
4 962

3.713

3 352

3.713

2 822

TRANSPORTATION EQUIPMENT
AIRCRAFT
Civil aircraft shipments
Exports}!

number
do

247
68

248
103

216
66

207
103

171
48

184
62

124
49

162
62

152
69

224
42

227
212

248
74

639, 272

652, 727

617, 685

492, 316

549, 708

476, 002

450, 416

380, 650

375, 410

356, 500
346, 048
93, 083
75, 653

292, 799
284, 323
87, 006
70, 834

273, 572
258, 457
101, 060
85, 194

435, 216
625
525
333, 885
315,499
100, 706
84, 670

482, 973
569
499
373, 231
352, 645
109, 173
92, 033

2
2
2

2
2
2

MOTOR VEHICLES
Factory sales, totalCoaches total
Domestic
Passenger cars, total
Domestic
Trucks total
Domestic
Exports total t
Passenger cars
Trucks and bussest

_

_ _

- -

Truck trailers, production, total
Complete trailers
.
Vans
All other
Trailer chassis

__

Registrations:
New passenger cars
New commercial cars

number. _
do
_ do_ _
do
do
do
- do

359, 276
110, 244
91, 517

426, 932
404, 590
121,993
99, 007

365, 906
350, 246
109,353
90, 445

526, 447
1,174
1,108
414, 533
401 , 392
110, 740
92, 275

38, 978
22, 567
16,411

39, 272
21, 148
18, 124

40,364
19,638
20, 726

39. 401
18, 986
20, 415

26, 262
11,777
14, 485

34, 857
14, 270
20, 587

30, 477
10, 273
20, 204

2 22, 121
2 9, 226
2 12, 895

332

5,591
5,330
2,685
2,645
261

4,648
4,416
1,984
2,432

232

4,763
4,475
1,697
2,778
288

4,598
4,344
1,599
2,745
254

5,605
5.304
2,251
3, 053

301

4,704
4,441
1,853
2,588
263

4,634
4, 366
1,859
2,507
268

5,013
4,657
1 950
2 707

313

4, 655
4,416
1 873
2. 543
219

5, 137
4, 746
1 994
2 752
364

470, 446
90, 627

454, 665
87, 461

406, 333
84, 021

424, 422
87, 646

406, 217
84, 814

373, 162
92, 281

332, 099
76, 517

310, 084
62, 596

301, 379
59, 661

295, 479
59, 285

322, 857
63, 364

374, 288
73 461

9,774
7,198
7,198
2,576
23
17
6
6

9,644
7,185
7,185
2,459
38
34
13
4

5,290
4,014
4,014
1,276

7,183
5,156
5,156
2,027

10, 129
6,794
6,777
3,335

14
2
0

22
18
0

9,845
6,336
6,315
3, 509
45
45
18
0

8,470
5,690
5,678
2,780
25
25
14
0

8,643
6 082
6 082
2 561
8
8
8
0

7, 383
5 494
5,494
I 889
21
21
10
0

8 161
5 840
5' 838
2 321
4
4
4
0

7 433
5 234
5' 204
2 19S

19
10
0

8,578
5,755
5,755
2,823
25
25
16
0

1,731

1,736

1,736

1,737

1,741

1,743

1,748

1,752

1,755

1,758

1,761

1 761

89
5.1
134, 348
91, 775
42, 573

90
5.2
128, 540
86, 935
41, 605

96
5.5
125, 846
84, 858
40, 988

91
5.3
121, 359
81 , 623
39, 736

92
5.3
118,073
80, 522
37, 551

87
5.0
113,394
76, 530
36, 864

84
4.8
110, 325
70, 914
39, 411

90
5.2
104, 831
67, 973
36, 858

87
5.0
98, 566
63, 482
35, 084

87
5.0
93, 605
60, 107
33, 498

89
5 1
91 056
58 234
32 822

93
5 3
gq 917
54 810
35 107

3,077
12.7

3,003
12.6

3,048
13.0

3,091
13.3

3,180
13.9

3,009
13.5

2,901
13.3

2,718
12.8

2,643
12 7

2,701
13 3

2,480
12 6

2, 502
13 C

16
0
16

14
0
14

23
0
23

19
0
19

0

0

1,721
1,721

1,789
1,789

1,720
1,720

18
0
18

0

1,547
1,547

20
0
20

0

1, 590
1,590

21
0
21

1,594
1,594

17
0
17
1 573
1,573

30

1,660
1,660

10
0
10

16

1,823
1,823

12
0
12

16
1 441
1 441

1 463
1 463

52
1
51

34
1
33

39
1
38

48
0
48

63
0
63

50
1
49

60
1
59

65
3
62

37
1
36

373

37

56

397
354
43

464
420
44

604
519
85

538
484
54

591
529
62

447
385
62

587
545
42

728
652
76

673
581
92

658
607
51

68 L
611
70

Q4 n

819
764

742
702
511,938

838
773

503, 038
475, 316
135, 415
117, 483

482, 263
140, 047
121,461

482, 029
457, 293
134,818
115,079

do
do
do

43, 436
25, 461
17, 975

43, 337
24, 352
18, 985

do
do
do
do
do

6,351
5,999
3,459
2,540
352

6,861
6,529
3,613
2,916

do
do

467, 313
84, 961

665
630
381,407

783
778

743
660

833
710

845
746

778
755

30, 914
14, 272
16, 642

529, 585

597
507
416
396
112
97

155
912
833
591

33 778
16, 250
17, 528

RAILWAY EQUIPMENT
American Railway Car Institute:
Shipments:
8,274
Freight cars, total
number
5,781
Equipment manufacturers, total
do
5,781
Domestic
_ _ do
2,493
Railroad shops, domestic
do
29
Passeneer cars, total
_
_
do
17
Equipment manufacturers, total
do
8
Domestic
do
12
Railroad shops, domestic
do
Association of American Railroads:
Freight cars (class I), end of month:§
1,727
Number owned
- - _ thousands. _
Undergoing or awaiting classified repairs
87
thousands..
5.0
Percent of total ownership
138,
319
Orders, unfilled
number
94, 837
Equipment manufacturers _ _ _ _
do
43, 482
Railroad shops
do
Locomotives (class I), end of month:
Steam, undergoing or awaiting classified repairs
3,290
number. .
13.3
Percent of total on line
Orders, unfilled:
18
Steam locomotives, total
.number
0
Equipment manufacturers
do
18
Railroad shops
. .
do
1,737
Other locomotives, total
do
1,737
Equipment manufacturers _ _
do
0
Railroad shops
do
Exports of locomotives, total
Steam
Other

_

_ _ _ do
do
do

19

0

14

1,804
1,804

22

0

0

0

o

r

r

o

o

o

12
12
12
C

o

30

o

INDUSTRIAL ELECTRIC TRUCKS AND
TRACTORS
Shipments, total__
Domestic
Export
_

_

T

__ numberdo
_
do

702
56

643
59S
45

1
2
3
Revised.
» Preliminary.
No quotation.
Data beginning January 1952 exclude all military exports.
Beginning 1952, detailed statistics are not available.
fRevised series. Beginning with data for 1951, the Bureau of the Census reports for woolen and worsted woven fabrics refer to goods which are principally wool by weight (i. e., exclude
fabrics containing 25-49.9 percent wool previously included).
{Excludes "special category" exports not shown separately for security reasons.
§Not including railroad-owned private refrigerator cars.
*New series. Compiled by 17. S. Department of Labor, Bureau of Labor Statistics. More complete specifications are: Worsted suiting, women's and children's gabardine, 10^612^ oz./yd.; monthly data for 1950 will be shown later.




-INDEX TO MONTHLY BUSINESS STATISTICS, Pages S1-S40Pages marked S
Abrasive paper and cloth (coated)
38
Acids
24
Advertising
7, 8
Agricultural income and marketings
2
Agricultural wages, loans
15
Aircraft
11,12,14,40
Airline operations
22
Alcohol, denatured and ethyl
24
Alcoholic beverages
2, 6,8,27
Aluminum
33
Animal fats, greases
25
Anthracite
2, 5,11,13,14,15, 34
Apparel, wearing
3, 4, 5, 6, 8, 9,11,12,14,15, 38
Asphalt and asphalt products
36
Automobiles
2, 3, 7, 8, 9,11,12,13,14,18, 21
Balance of payments
20
Banking
_
15,16
Barley
_
28
Barrels and drums
32
Battery shipments
34
Beef and veal
29
Beverages, alcoholic-..
2,6,8,27
Bituminous coal
2,11,13,14,15,34,35
Boilers
33,34
Bonds, issues, prices, sales, yields
19
Book publication
_
_
37
Brass
33
Brick
38
Brokers' loans
16,19
Building construction (see Construction).
Building contracts awarded
6
Building costs
7
Building materials
7,8,9
Business, orders, sales, inventories
3, 4
Businesses operating and business turn-over.4
Butter
27
Candy
__
29
Cans, metal
33
Capital
flotations18. 19
Carloadings
22,23
Cattle and calves
29
Cement and concrete products
2,6,38
Cereal and bakery products, price
5
Chain-store sales
9
Cheese
27
Chemicals
2, 3,4, 5, 12,14, 15, 18, 21, 24
Cigars and cigarettes
6, 30
Civil-service employees
12
Clay products (see also Stone, clay, etc.)
2.38
Clothing
5, 8, 9,11, 12,14,15, 38
Coal
2, 5, 11,13, 14,15,34, 35
Cocoa
29
Coffee
_
22,29
Coke
2,35
Commercial and industrial failures
4
Construction:
Contracts awarded
6
Costs
7
Dwelling units started
7
Employment, wage rates, earnings, hours._
11,
12,13,14,15
Highway
6,12
New construction, dollar value
6
Consumer credit
16
Consumer expenditures
1,8
Consumers' price index
5
Copper
21,33
Copra and coconut oil
25
Corn
19,28
Cost-of-living index (see Consumers' price
index)
5
Cotton, raw, and manufactures
2, 5, 6, 21, 38, 39
Cottonseed, cake and meal, oil
25
Crops
2, 5, 25, 27, 28, 30, 38
Currency in circulation
18
Dairy products
Debits, bank
Debt, short-t'^rm. consur*ija'
Debt. United b* tes Government

Department stores
Deposits, bank
Disputes, industrial
Distilled spirits
Dividend payments and rates
Drug-store sales
Dwelling units started

2, 5, 14, 27
15
16
17

9, 10, 16
15,16,18
13
27
1,18,20
8,9
7

Earnings, weekly and hourly
13,14,15
Eggs and poultry
2,5,29
Electric power...
__ 5, 26
Electrical machinery and equipment
3,4,5, 7,34
Employment estimates
10,11,12
Employment indexes
12
Employment security operations
13
Emigration and immigration
23
Engineering construction
6
Expenditures, United States Government
16
Explosives
25
Exports (see also individual commodities)
21
Express operations
22
Factory employment, payrolls, hours, wages _ _ _
11,
12,13,14,15
Failures, industrial and commercial
4
Farm income and marketings
2
Farm products, and farm prices...
2,5
Farm wages
15
Fats and oils
5,25,26
Federal Government,
finance
16,17
Federal Reserve banks, condition of
15,16
Federal Reserve reporting member banks
15,16
Fertilizers
5, 24
Fiber products
__
34
7
DigitizedFire
for losses
FRASER



Pages marked S
25,29
25
31,32
28
2,
3,4, 5, 7, 8, 9, 11, 12, 14, 27, 28, 29, 30
Footwear
2, 5, 8, 9, 12, 14, 15,31
Foreclosures, real estate
7
Foreign trade, indexes, shipping weight, value
by regions, countries, economic classes, and
commodity groups
21, 22
Foundry equipment
34
Freight carloadings, cars, indexes
22, 23
Freight cars (equipment)
40
Freight-car surplus and shortage
23
Fruits and vegetables
2, 5, 21, 27
Fuel equipment and heating apparatus
33,34
Fuel oil
35
Fuels
2,5,35
Furs
_
_
22
Furnaces
34
Furniture
2,5,8,9,11,12,13,14
Gas, customers, prices, sales, revenues
5, 26
Gasoline
36
Glass and glassware (see also Stone, clay, etc.). 2,38
Generators and motors
34
Glycerin
24
Gold
_
18
Grains
5, 19, 21, 28
Gross national product
1
Gypsum and products
6, 38
Heating and ventilating equipment
6, 33,34
Hides and skins
5,22,30
Highways
6, 7
Hogs
29
Home Loan banks, loans outstanding
7
Home mortgages
7
Hosiery
38
Hotels
11, 13, 14, 15, 23
Hours of work per week
12,13
Housefurnishings
5, 8, 9
Housing
5,6, 7. 8
Immigration and emigration
23
Imports (see also individual commodities)
21, 22
Income, personal
1
Income-tax receipts
16
Incorporations, business, new
4
Industrial production indexes
2,3
Instalment loans
16
Instalment sales, department stores
10
Insulating materials
34
Insurance, life
17,18
Interest and money rates
16
International transactions of the U. S
20, 21, 22
Inventories, manufacturers' and trade
3,9,10
Iron and steel, crude and manufactures
2,
6, 14,21,32,33
Jewelry stores, sales, inventories
8, 9
Kerosene
35
Labor disputes, turn-over
13
Labor force
10
Lamb and mutton
29
Lard
„
29
Lead
33
Leather and products
2, 3, 4, 5, 12, 14, 30, 31
Linseed oil,
.„
25
Livestock
2, 5, 29
Loans, real estate, agricultural, bank, brokers'
(see also Consumer credit)
7, 15, 16, 17, 19
Locomotives
40
Looms, woolen, activity
39
Lubricants
35
Lumber
2, 5, 11, 12, 13, 14, 31, 32
Machine activity, cotton, wool
39
Machine tools
34
Machinery
2, 3, 4, 5, 11, 12, 13, 14, 18, 21, 34
Magazine advertising
8
Mail-order houses, sales.
10
Manufacturers' sales, inventories, orders
3,4
Manufacturing production indexes
2,3
Meats and meat packing
2, 5, 11, 12, 14, 29
Metals
2, 3, 4, 6, 11, 12, 13, 14, 15, 18, 32, 33
Methanol
_
24
Milk
„
27
Minerals
2,3, 13, 14, 15
Money supply
18
Mortgage loans
7, 15, 16
Motor fuel
36
Motor vehicles
3, 5, 8, 9, 40
Motors, electrical
34
National income and product
1
Newspaper advertising
8
Newsprint
22,37
New York Stock Exchange
___
19,20
Oats
__
28
Oil burners
34
Oils and fats
5,25,26
Oleomargarine
26
Operating businesses and business turn-over. _
4
Orders, new and unfilled, manufacturers'
4
Paint and paint materials
5,26
Paper and pulp
2, 3, 6, 11, 12, 14, 36, 37
Paper products
2,3,4,36,37
Passports issued.
23
Payrolls, indexes
12
Personal consumption expenditures
8
Personal income
1
Personal saving and disposable income..
1
Petroleum and products,
" 3, 4, 5, 11, 12, 13, 14, 15, 21, 22, 35, 36
Pig iron—,„
32

Fish oils and
Flaxseed
Flooring
Flour, wheat
Food products

fish

Pages marked S
Plant and equipment expenditures
1
Plastics and resin materials, synthetic
Plywood
Population
Pork
Postal business-^
Postal savings
Poultry and eggs
2, 5, 29
Prices (see also individual commodities):
Consumers' price index
5
Received and paid by farmers
5
Retail price indexes
5
Wholesale price indexes
5,6
Printing
2,3,4,11,12,15,37
Profits, corporation
, 1,18
Public utilities
1, 5, 11,13,14,15,17,18, 19, 20
Pullman Company
23
Pulpwood
36
Pumps
34
Purchasing power of the dollar
6
Radio advertising, production
7,34
Railways, operations, equipment, financial statistics, employment, wages
1,
11,12,13,14,15,17,18,19,20,22,23,40
Railways, street (see Street railways, etc.).
Rayon and rayon manufactures
2, 6, 39
Real estate
7
Receipts, United States Government
16
Reconstruction Finance Corporation, loans
17
Refri gerators
34
Rents (housing), index
5
Retail trade, all retail stores, chain stores, department stores, mail order, rural sales, general merchandise
3,4,8,9,10
Rice
28
Roofing and siding, asphalt
36
Rosin and turpentine
24
Rubber, natural, synthetic, and reclaimed,
tires and tubes
22,37
Rubber industry, production index, sales, inventories, employment, payrolls, hours,
earnings
2,3,4 12,14,15
Rye
28
Saving, personal
1
Savings deposits
16
Securities issued
18,19
Service industries
8,11
Sewer pipe, clay
38
Sheep and lambs
_
29
Shipbuilding
11, 12, 13,14
Shoes
2, 5, 8, 9, 12, 14, 15,31
Shortenings
26
Silk, imports, prices
6, 22,39
Silver
18
Skins
5, 22,30
Slaughtering and meat packing .
11,12, 14,29
Soybeans and soybean oiL_
25
Spindle activity, cotton, wool
39
Steel ingots and steel manufactures (see also
Iron and steel)
32,33
Steel, scrap
32
Stocks, department stores (see also Manufacturers' inventories)
10
Stocks, dividends, issues, prices, sales, yields- _
20
Stokers, mechanical
34
Stone, clay, and glass products
2,
3,11,12,13, 14,38
Stoves
34
Street railways and buses
13,14,,15,22
Sugar
22,30
Sulfur
.
25
Sulfuric acid
24
Superphosphate
24
Tea
30
Telephone, telegraph, cable, and radio-telegraph carriers
11, 13, 14, 15, 19, 20,23
Textiles
2, 3, 4, 6, 11, 12, 14, 15, 21, 38, 39,40
Tile- —
38
Tin_
22,33
Tires and inner tubes
6, 12, 14, 15,37
Tobacco
2,3,4, 5,6,7,8, 11, 12, 14, 15,30
Tools, machine
34
Trade, retail and wholesale. 3, 4, 8.9,10,11,13, 14,15
Transit lines, local
15,22
Transportation, commodity and passenger
22,23
Transportation equipment
2,3,4,11,12,13, 14,40
Travel
23
Truck trailers
40
Trucks
40
Turpentine and rosin
24
Unemployment and unemployment compensation
10,13
United States Government bonds
17,18,19
United States Government,
finance
16,17
Utilities
1, 5, 11,13, 14,15, 17,18, 19, 20
Vacuum cleaners
34
Variety stores
9
Vegetable oils...
25,26
Vegetables and fruits
2,5,21,27
Vessels cleared in foreign trade
23
Veterans' unemployment allowances
13
Wages, factory and miscellaneous
Washers
Water heaters
Wax
Wheat and wheat
flour
Wholesale price indexes

Wholesale trade
Wood pulp___
Wool and wool manufactures
Zinc.

13,14,15
34
34
36
19,28
5, 6

10
36
2, 6, 22, 39, 40
33

i^roduction
lor

cn&e

A REVIEW OF 1951 BY THE OFFICE OF BUSINESS ECONOMICS

Natioai il Income and Product

Maiiuf acturing Production

Retail Trade

Employment and Labor

Financial Developments

New Construction

Domestic Business Investment

International Trade

Business Population

Agricultural Production and Income

The Annual Review Number of the

SURVEY OF CURRENT RUSINESS
Mobilizing Production for Defense — the February Annual Review Number of the SURVEY OF
CURRENT BUSINESS — is priced at 30 cents. A 25-percent discount is given for quantity orders of 100
or more copies for classroom or other use. Annual subscriptions to the SURVEY OF CURRENT BUSINESS are available at $3.25 per year; foreign $4.25. 72 pages, illustrated.

Orders may be placed with the Superintendent of Documents, U. S. Government Printing Office
Washington 25, D. C., or the nearest Department of Commerce Field Office