View original document

The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.

UNITED STATES
DEPARTMENT OF COMMERCE
WASHINGTON

SURVEY OF
CURRENT BUSINESS
MARCH, 1927
No. 67

COMPILED BY

BUREAU OF THE CENSUS
BUREAU OF FOREIGN AND DOMESTIC COMMERCE
BUREAU OF STANDARDS
IMPORTANT NOTICE
In addition to figures given from Government sources, there are also incorporated for completeness of
Service figures from other sources generally accepted by the trades, the authority and responsibility
for which are noted in the "Sources of Data91 on pages 13^138 of the February semiannual issue

Subscription price of the SURVEY OF CURRENT BUSINESS is $1.50 a year; single copies (monthly), JO cents; semiannual
issues, 25 cents. Foreign subscriptions, $2.25; single copies (monthly issues), including postage, 14 cents; semiannual
issues, 36 cents/ Subscription price of COMMERCE REPORTS is $4 a year; with the SURVEY, $5.50 a year. Make
remittances only to Superintendent of Documents, Washington, D. C., by postal money order, express order, or New
York draft. Currency at sender's risk. Postage stamps or foreign money not accepted




U. 8. GOVERNMENT PRINTING OFFICE

INTRODUCTION
THE SURVEY OF CURRENT BUSINESS is designed to
present each month a picture of the business situation
by setting forth the principal facts regarding the various lines of trade and industry. At semiannual intervals detailed tables are published giving, for each item,
monthly figures for the past two years and yearly
comparisons, where available, back to 1913; also blank
lines sufficient for six months have been left at the
bottom of each table enabling those who care to do
so to enter new figures as soon as they appear (see
issue for February, 1927, No. 66). In the intervening
months the more important comparisons only are
given in the table entitled "Trend of business movements."
ADVANCE SHEETS
Realizing that current statistics are highly perishable and that to be of use they must reach the business
man at the earliest possible moment, the department
has arranged to distribute advance leaflets every week
to subscribers in the United States. The leaflets are
usually mailed on Tuesdays and give such information
as has been received during the preceding week. The
information contained in these leaflets is also reprinted
in "Commerce Reports/' issued weekly by the Bureau
of Foreign and Domestic Commerce. The monthly
bulletin is distributed as quickly as it can be completed
and printed.
BASIC DATA
The figures reported in the accompanying tables are
very largely those already in existence. The chief
function of the department is to bring together these
data which, if ayailable at all, are scattered in hundreds of different publications. A portion of these
data are collected by Government departments, other
figures are compiled by technical journals, and still
others are reported by trade associations,
RELATIVE NUMBERS
To facilitate comparison between different items and
render the trend of a movement more apparent, relative numbers (often called "index numbers," a term
referring more particularly to a special kind of number
described below) have been calculated. The relative
numbers enable the reader to see at a glance the
general upward, or downward tendency of a movement which can not so easily be grasped from the
actual figures.
In computing these relative numbers the last prewar year, 1913, or in some instance a five-year average, 1909-1913, has been used as a base equal to 100
wherever possible.
The relative numbers are computed by allowing the
moAthly Average for the base year or period to equal
100. If the movement for a current month is greater
than the base, the relative number will be greater than
100, and vice versa. The Difference between 100 and
tbfc relative number will give at once the per cent
increase or decrease compared with the base period.
Thus a relative number of 115 means an increase of 15
per cent over the base period, while a relative number
of 80 means a decrease of 20 per cent from the base.

Relative numbers may also be used to calculate the
approximate percentage increase or decrease in a movement from one period to the next. Thus, if a relative
number at one month is 120 and for a later month it
is 144 there has been an increase of 20 per cent.
In many instances comparable figures for the prewar years are not available, and in such cases the year
1919 has usually been taken as the base. For some
industries 1919 can not be regarded as a proper base,
due to extraordinary conditions in the industry, and
some more representative period has been chosen. In
many cases relative numbers of less importance have
been temporarily omitted.
Most of the relative numbers appear in a special
section of the semiannual issues, as in Tables 111 to
131 of the August, 1926, number, thus allowing easy
comparison on a pre-war base for all items for which
relatives could be computed.
INDEX NUMBERS
When two or more series of relative numbers are
combined by a system of weightings the resulting
series is denominated an index number. The index
number, by combining many relative numbers, is
designed to show the trend of an entire group of
industries or for the country as a whole, instead of for
the single commodity or industry which the relative
number covers. Comparisons with the base year or
with other periods are made in the same manner as in
the case of relative numbers.
RATIO CHARTS
In many instances the charts used in the SURVEY
OF CURRENT BUSINESS are of the type termed "Ratio
Charts" (logarithmic scale), notably the Business
Indicator charts on page 2. These charts show the
percentage increase and allow direct comparisons
between the slope of one curve and that of any other
curve regardless of its location on the diagram; that
is, a 10 per cent increase in an item is given the same
vertical movement whether its curve is near the bottom or near the top of the chart.
The difference between this and the ordinary form
of a chart can be made clear by an example. If a
certain item, having a relative number of 400 in one
month, increases 10 per cent in the following month,
its relative .number will be 440, and on an ordinary
chart would be plotted 40 equidistant scale points
higher than the preceding month. Another movement with a relative number of, say, 50 also increases
10 per cent, making its relative number 55. On the
ordinary (arithmetic) scale this item would rise only 5
equidistant points, whereas th0 previous item rose 40
points, yet each showed the same percentage increase.
The ratio charts avoid this difficulty and give to eacli
of the two movements exactly the same vertical rise
and hence the slopes of the two lines are directly
comparable. The ratio charts compare percentage
changes, while the arithmetic charts compare absolute
changes.

This issue presents practically complete data for the month of December and alsofttem$ covering the early weeks of

January received up to February 28. (See charts and table, pp. 4 and 5.) As most data covering a particular month's^
business are not available until from 15 to SOdays after the clbse of the month, a complete picture of that month's
operations can not be presented at an early date, but the advance leaflets give every week the latest data available*



UNITED STATES DEPARTMENT OF COMMERCE
WASHINGTON

SURVEY OF
CURRENT BUSINESS
COMPILED BY
BUREAU OF THE CENSUS

:

: BUREAU OF FOREIGN AND DOMESTIC COMMERCE

BUREAU OF STANDARDS

MARCH

No. 67

1927

CONTENTS
SUMMARIES

Preliminary summary for February
Course of business in January
Monthly business indicators (table and chart)
Weekly business indicators (table and chart)
Wholesale price comparisons (table and charts)
Indexes of business:
Condensed summary
Text and chart
Detailed indexes (production, prices, sales, etc.)
Basic steel and related products (charts)

Page

1
9
2, 3
4, 5
6, 7, 11
9
10
20
8

NEW DETAILED TABLES

Census of manufactures
19
Steel castings
23, 24
Other iron and steel products
24
Factory labor and rayon
25
Paper boxes and miscellaneous items
26, 27
Debits to individual accounts, by clearing house centers.
28

INDEX BY SUBJECTS

Textiles
Metals and metal products.
Fuels
Automobiles and rubber
Hides and leather
Paper and printing
Building construction and housing
Lumber products
Stone, clay, and glass products
Chemicals and oils
Foodstuffs
Tobacco
Transportation
Public utilities
Employment and wages
Distribution movement (trade, advertising, etc.).
Banking and finance
Foreign exchange and trade, gold and silver

Text
page

Table
page

12
31
13
33
14
37
14 35, 38
14
38
14
39
40
15
41
15
42
15
43
16
45
16
48
16
48
17
50
11
50
51
17
52
17
54
18

PRELIMINARY SUMMARY FOR FEBRUARY
The dollar volume of business in February, as measured by check payments, although smaller than in
January, was greater than a year ago. The movement
of goods into consumption, as seen from figures on
carloadings, was running greater than a year ago.
The value of new building contracts awarded was
likewise running greater during the first three weeks of
the month. Wholesale prices continued to average
lower and for the month were substantially below a
year ago. Loans and discounts of Federal reserve
member banks, although greater than a year ago, continued the decline which set in shortly after the first
of the year. The Federal reserve ratio continued to
average higher, both as compared with the preceding
month and the corresponding month of last year.
Time money rates were generally lower than in either
the preceding month or February, 1926, with a similar
34959—27

1




comparison in the case of call-money rates. Prices
of stocks on the New York Stock Exchange averaged
higher than in either the preceding month or February, a year earlier. Bond prices, on the other hand,
averaged lower than in January but higher than a
year ago.
The production of bituminous coal was greater
than a year ago, while lumber production and the
output of beehive coke were substantially below last
year. The production of crude petroleum reached a
new high peak during February and for the month
averaged higher than in either the previous month or
February, 1926. Cotton receipts were running higher
than a year ago, while receipts of cattle, hogs, and
wheat showed little change from the preceding year.
Business failures were more numerous in February
than a year earlier.

MONTHLY BUSINESS INDICATORS

1920-1927

[Ratio charts—see explanations on inside front cover. The curve on bank debits has been adjusted for normal seasonal variations and that on manufacturing production
for the varying number of working days in the month]
RELATIVE TO 1913 AS 100

1920
300

200 y

1921 1922 1923 1924 1925 1926 1927

RELATIVE TO 1919 AS iOO

1920 1921 1922 1923 1924 1925 1926 1927

PRICES 25 INDUSTRIAL STl'OCKS

100

100
150

INTEREST RATES, COMMERCIAL 'APER

I
I
WHOLESALE TRADE 6 LINES

100
80

60
50
250

DEPT. STORE TRADE '359 STORES
WHOLESALE PRICES (DEPT.OF,LABOR )

200

100
250
200

i

i

r

i

i

-FARM PR1CES(DEPT, OF AGRICULTURE >-

MANUFACTURING PRODUCTION
, . . | , "(64 cpMMppmEs;. I . . .

CO




200

BANK DEBITS. 141 CENTERS

UMBER PRODUCT^
(5 SPECIES)

AUTOMOBILE PRODUCTION
( PASSENGER CARS AND TRUCKS)

FACTORY EMPLOYMENT

BUILDING CONTRACTS AWARDED (SQ. FT.)
(27 STATES)

1920

1921 1922 1923 1924 1925 1926 1927

1920 1921 1922 1923 1924 1925 1926 1927

MONTHLY BUSINESS INDICATORS
The following table gives comparative relative numbers for a selected list of important business movements. It is believed
that this table will prove useful, because it segregates from the large mass of material a comparatively small number of items which
are often regarded as indicative of business in general.
The table has been divided into two parts, the first containing those items for which relative numbers can be calculated, using
1913 as a base. The second part contains items for which comparable data back to 1913 are not available. This latter group of
relative numbers is calculated by letting the 1919 monthly average equal 100. Care should therefore be exercised in comparing the
absolute value of the two sets of data. In either group, however, the upward or downward trend of the relative numbers, compared
to previous months, does reflect the present tendency in each item and will give a basis for business judgment.
1995

MONTHLY AVERAGE

1997

1996

ITEM

1920 1991

1999

1993 1994 1995 1996 Nov. Dec. Jan. Feb. Mar. 1 Apr.May June July Aug. Sept. Oct. Nov. Dec. Jan.

1913 monthly average =100
Production:
Pig iron
120 54 87 130 101 118 127 118 127 130 114 134 135 136 126 126 125 123 130 126 121
Steel ingots
135 64 114 144 122 146 156 155 158 164 151 178 163 156 149 145 159 156 162 148 138
Copper
_ . .. 99 38 80 120 128 136 141 131 135 138 132 147 143 143 139 140 140 141 146 146 141
Cement (shipments) _ . _ _
108 107 131 153 164 177 182 137 94 77 79 129 175 243 259 254 251 245 237 153 87
98 99 58 104 99 68 93
Anthracite coal
2 3
2 27 115 108 106 117 111 108 111 114 98 99
Bituminous coal
119 87 85 118 101 109 121 127 132 135 117 116 101 98 105 109 116 123 137 150 145
Electric energy (gross revenue sales)
283 312 349 407 434 470
535 558 578 559 545 537 506 499 489 491 511 548
Crude petroleum
178 189 224 295 287 304 309 297 294 288 264 293 290 302 298 313 321 315 333 336 348
Cotton (consumption)
105 97 109 117 99 115 120 117 124 125 121 137 124 111 111 99 108 123 122 126 130
119 113 126 130 133 138 144 137 152 139 120 136 137 139 150 136 140 164 166 155 150
Beef ...
....
Pork
113 117 130 160 151 128 127 127 162 168 127 136 120 119 136 129 118 100 101 119 151
Unfilled orders:
United States Steel Corporation
170 90 96 102 68 73 64 78 85 83 78 74 65 61 59 61 60 61 62 64 67
Stocks:
Crude petroleum *__
143 171 265 311 369 290 269 283 278 278 274 274 273 271 268 265 265 265 264 264 265
Cotton (total)
155 198 153 125 111 129 177 216 237 227 213 192 167 143 119 98 85 137 217 260 267
Price:*
Wholesale index
226 147 149 154 150 159 151 158 156 156 155 152 151 152 152 151 149 151 150 148 147
Retail food
..
. 203 153 142 146 146 145 160 167 166 164 162 160 162 161 160 157 156 159 160 162 162
Retail coal, bituminous
207 197 188 190 169 167 172 179 179 179 179 170 168 161 160 160 162 170 177 188 187
Farm products
205 116 124 135 134 147 136 144 143 143 143 140 140 139 139 136 133 134 130 130 127
Business finances:
Defaulted liabilities
108 229 228 197 198 162 149 157 160 191 150 134 169 147 129 130 123 131 146 143 200
184 136 169 185 198 262 285 305 305 309 309 272 249 253 268 280 296 296 283 295 308
Price 25 industrial stocks
Price 25 railroad stocks
67 64 75 72 81 99 112 107 111 111 109 105 104 106 111 113 116 120 114 117 121
Banking:
Clearings, New York City .
257 205 230 226 264 300 307 298 342 344 272 356 329 297 307 302 275 271 309 282 339
Clearings, outside
.. ..
. 275 212 230 276 284 318 324 323 354 344 288 339 324 316 329 334 304 313 344 317 344
Commercial paper interest rate
134 118 80 90 71 73 77 79 79 79 75 78 76 72 70 72 78 80 82 80 79
Distribution:
Imports (value)
294 140 177 212 201 236 248 252 266 279 260 297 266 215 226 227 225 230 253 250 241
Exports (value)
331 181 154 168 185 198 193 216 226 192 170 181 187 172 163 178 186 217 215 232 225
Sales, mail-order
264 188 204 259 284 327 349 396 473 336 322 357 344 299 309 284 286 336 417 425 471
Transportation:
Freight, net ton-miles
137* 105 115 139 131 139 149 149 139 138 130 141 133 146 144 153 160 162 177 159 147

121
151
149
81
86
143
346
130
135
164
64

266
256
147
159
183
126
225
301
122
324
329
77
240
202
313

1919 monthly aver age -100
Production:
Lumber3
......
Building contracts
Stocks:
Beef
Pork
Business finances:
Bond prices (40 issues)
Banking:
Debits outside New York City
Federal ReserveBills discounted..
.
Total reserves
Ratio

.

102
72

86 117 133 129 141 136 140 127 113 130 146 142 148 148 139 143 141 143 127 113 104
69 102 106 108 138 133 146 137 117 90 150 155 153 142 125 141 139 135 131 119 95
42
83

86

87 107 104 108 112 116 112 112 114 115 115 116

114

91

29
70

32
91

34
90

34
82

66
98

27
70

31
45

95 107 108 121 127 121

36
56

34
67

33
74

30
78

25
76

22
74

21
78

19
86

18
84

20
67

26
52

117 117 117 117 116 116

137 134 114 133 128 122 128 135 118 121

36
47

43
57

40
71

118 119

119

135 123

139

133

132 91 28 39 19 26 30 32 39 23 28 33 27 24 27 27 32 37 33 33 37 19
97 122 144 146 146 134 135 131 129 135 133 133 135 136 136 137 135 134 135 135 134 143
80 122 154 152 160 149 148 142 134 149 147 146 151 151 150 152 148 145 147 144 140 159

i Data since January, 1925, cover only stocks east of California, and hence are not directly comparable with figures for earlier periods.
* Wholesale and retail prices from Department of Labor averaged for the month; farm prices from Department of Agriculture.
3 Based on the total computed production reported by 5 associations. Includes southern pine, Douglas fir, western pine, North Carolina pine, and California white
pine. The total production of these associations in 1919 was equal to 11,401,000,000 board feet, compared with a total lumber production for the country of 34,552,000,000*
board feet reported by the census.




WEEKLY BUSINESS INDICATORS
[Weeks ending Saturday. See table on page 5]
WEEKLY AVERAGE, 1923-1925 INCLUSIVE-KX>

Bl"FUN1INOUS CO/U-,P ROC)UCTior>J
*AR,

APR.

MAY

JUN JULY \UG. SEP

OCT.

JAN.)

3EC.

APR. {MAY JUN

J1AR,

FEB.

JULY

SEP'

WJG.

K

i.*

ion I

.* *

\f\f\l .....

IUU

••*••.

'

V

100

LUMBER, PRODUCTION
120 r

•**«

lOOh?

T

•'

y/
T

120 1

i ii

1*11

...-.

80
•

/

160

:

i

+

;

-

t

•\t

••

:

:

0

-".:
:

.I

•"

100

:"|

• :

V

80

:.: :

: :

•

60

111

40 4bb JLU

115

11

BEEHIVE COKE, PRODUCTION

/

|

:

100

75

.

-r

75 X*

Mb T^,U

120

mamm /

100

i

'HM

il

I

i U

MM

1_LI

i .

I1

120

....,'.."'••* vflV'

\f\f\

IUU

'•-.

*

70

l||

t .% ,

r ^

A

i

*».*

V

.* ..

MM

I I I

!

'i

I I I !

1 1 I

11

M i l

...•.

105

100

/

*\

*

.

25 & il1

.....

-...-..

I3C

i

•••••

i

j

!

irtrti —^*^<fl
i\j\j
f-'^

~-

1

i

tL'-Jj.,
*

'**

60

^\

1

L

i

inn

A

!s,
f

. ..**
1 1 1 1 » »* i i
**.!

^rt-

,i

*•«.

JAN . FEB MAP APR

on ^ ^*«
**.

•••'

1 11

! 1 !

1

1

JUN JULY AUG . SEP OCT NOV DEC

!<•>/•*

E

85 Yt^sO-

ISCt

jnr
lUL
--!

U '

MA>f JUN JULY jAUQ.j SEP

«

i ' i

PRICES

1

••H
i

.

J,,
BUSINESS FAILURES (NUMBER)

i

j
|

i

L/N^j

><....,...

[JAN IFEB 'MAR: APR

t-

r

./

!UU ^^

irr%!

:

i
.J. . •

»o^-l

Itt

IRQ N AND STEEL COMPOSITE PRICES

95

•i.

./

*» '

"h"""

j— '

-**• -**•
k-H ^

200

'

BOND

j

80

250




ISC

!

1

M

i 11

,., i

in

uiW'^M

! 1 0 r^r^—r1—X~rr—1

y-,. ..

|QO

mi

! I1

_ ,...1.- -. !...«

CJOTTON PRICES MIDDLING MEW YORK
_*•«.

J
-/

TIME MONEY RATES
!

300

0

rT'i.

HO L-v7--jJ->44-

80 •Wl
1

350

50

1 111

150 1—:

100
**

COTTON RECEIPTS

100

^ul.\Ll

.-•

•*

STOCK PRICES

"••.

120

....-k-

»•.

WO/

140

t>

100

r\

W'HEAT PRICE NO 2 RED WINTER

' ,.*...

>•..

)n_

\/'\.

80

."t.

,*

175

* 1

100 k:

A

\

...—

(

140

90 -H^v^

325

T

CALL MONEY RATES

95

250

V

/*
^

120

MI

400

••..

/*'

160

*

40

WHEAT RECEIPTS

7

|

80 •*H- ^y-

/A

FIS HER'S WHOLESALE PRICE INDEX
IdU

li

i

90

110

CAR LOADINGS

•/

[\

|

100

<o
o

RELATIVE

60

-•"

ISO

1 1 L 1 11
^

100

80 /

.-.->• -

»••' ViV

t"

HOG R-ECEIPTS

»• 120

4^>'

•*

120

-^—'.

PE TROLEUM PRODUCTION (DAILY AVERAGE)

D
z

/f'--"""

t'*

50

7* ••••

••"'

;V V

~V\

FEDERAL RESERVE RATIO

•V ''\ •
..,{

• •.

./v- ;v-. ./' ,•—.

*
•v-p-..j'\. .•/•' ' *•'

.• •. 1

pv.

MAY JUN JULY AUQ. SEP OCT. NOV. DEC]
I 1 1 1 1 T . . . . r l l 1 IT T.TTT TTT TTT

7

:':

100

1 TV

110

/•/•X :;..

125

1

125

50

h
^

:?*i

CATTLE RECEIPTS

r

APR.

1

A

ft-

'•-.TV

150
150

MAR

FEB.

-TTT M 1

1.CANS AND DISCOUNTS F.R.MEMBER BANKS
120

:

r

-rrr

140 1
120

; ;:

•A: : f.

::

9

JAN

\Af\

>•"

Ml

bEC

NOV.

J*.

\
160

*.

sol-

180

OCT.

Till

'Mil
x.

!4oL«

DEEJITS TO ND VID UAL AC COlJNTSJ

BUILDING CJONT RA STS

MOV.

_

926
927

-^-^:&1

i:U/i:. "..***

in
j *

>k*>
JJAN iFEB.JMAR

7£

]

/« ." *•.*"
'
•'n,

1

M

APR. MAY JUN^.JULYiAUG SEP OCT. iNOV

DEC]

WEEKLY BUSINESS INDICATORS1

Car loadings

Building contracts

Receipts of wheat

Receipts of cotton

Receipts of cattle

Receipts of hogs

Wholesale prices

Price of No. 2 wheat

Bank loans and discounts

Debits to individual
accounts

108 1
110 5
111 4
72 9

130.7
127.6
137.3
114.5

111.9
111 2
110.5
109 8

112.2
110 9
106.4
77 1

181.4
142.1
142.3
110 2

117.3
116.3
104.1
74.4

293.6
283.0
242.6
206.8

123.5
125.1
119.3
65.3

110.0
110 2
102.8
70 6

105.1
103.6
102.7
102 9

78.5
74.3
73.2
74.7

95.3
95.2
95.2
95.2

143.9

119.8
120.2
120.4
120.8

124.7
123.9
141.4
133.6

121.2
124.2
124.2
142.4

Business failures

Petroleum production

141.8
142. 2
139.8
92 9

Price of iron and
steel (composite)

Beehive coke production

i
6

Price of cotton middling

Lumber production

WEEK
ENDING 2—

Bituminous c o a l
production

All data are given as relative to the weekly average for 1922 to 1924 as 100, except wholesale prices, which are based on 1923 to 1924 average

105.0
107.5
112.7
83.1

|

1935
Dec.

5
12
19
26

1936
Jan.

2
9
16 _.
23
30

117.5
143.5
144.0
136 9
138.4

56 7
81 4
94 3
101 9
103 8

128.5
127.2
136.4
150.4
148.7

108.2
107 7
106.8
105 7
103.8

81.5
99 7
103 0
101 3
101.7

152.3
131 8
119.2
182 7
115.5

41.6
75.7
63.0
55.9
53.0

174.0
132.8
112.3
119.6
106.0

71.4
103.9
105.1
102.2
83.3

97.2
122 7
112.5
94 7
102.0

103.8
103.8
103.4
103.7
104.0

78.1
78.5
79.6
78.9
78.5

95.5
95.5
95.5
95.3
94.9

152.8
153.7
152.8
152.8
148.8

121.8
121.3
120.2
120.0
119.3

109.8
153.2
129.8
135.2
124.0

145.5 93.0
97.0 137.3
109.1 142.5
97.0 127.6
109.1 128.4

Feb.

6
13
20
27

134.0
132.3
126.8
120.0

108 1
110 5
108 1
107 1

161.0
158.8
154.8
140.4

104 5
104.3
104 3
105.6

100 6
100.8
102 4
100 3

93.2
77.0
102.8
146.7

51.9
48.9
60.8
40.6

101.3
97.9
87.7
71.1

87.8
85.5
78.8
82.3

94.4
93.7
79 0
80.9

104.0
103.3
102.0
101.3

78.5
78.5
78.5
75.1

94.9
94.9
94.7
94.7

156.1
148.8
145.5
147.2

119.6
119.8
119.4
119.2

132.4
123.3
121.7
107.7

112.1 128.9
118.2 94.8
115.1 118.9
127.3 104.0

Mar. 6
13
20
27

115. 2
117.8
113. 1
106 0

109 5
111 4
114 8
118 1

115.8
115.4
115.4
109.7

105.3
106 1
105.8
106 0

106 0
106 3
107 4
106 4

106. 4
119.6
167.0
157 1

45.7
36.6
42.1
42.1

68.5
65.5
68.1
71 5

81.0
83.3
85.9
88.4

90.1
82 9
85.6
78 6

100.3
99.9
100.1
98.8

73.6
74.0
72.8
72 8

94.7
94.7
94.6
94.6

139.0
137 4
142.3
130 1

119.8
119 0
119.3
119 3

143.5
121.7
133.6
122.2

112.1
103.0
103.0
118.2

Apr.

99.6
103.8
102.5
102.1

116 7
115 7
119 0
118 1

102.6
100. 0
102.2
100.0

106.7
106 7
106.4
107 2

102.0
102 2
106.1
107 0

165.1
207.4
184.9
128 6

31.4
39.4
33.6
42.4

57.4
51.9
48.1
43.0

69.8
74.3
82.0
88.7

59.9
68.9
74.8
74 6

98.9
98.2
98.8
98.5

73.2
72.8
72.5
71.3

94.6
93.8
93.8
93.6

136.6
142 3

120.2
119.4
118.9
118 7

124.0
133.1
126.2
129.6

115.1 98.5
97.0 99.8
109.1 108.2
84.8 117.9

May 1
8
15
22
29___

100.5
99.6
102.4
102.3
106.7

111 4
109 5
111 4
112 4
113 8

92.1
93.0
89.3
92.5
85.1

109.1
109 3
109.6
108 9
110.3

109.4
109 5
113.2
114 2
118 8

165. 2
166.4
147.2
190.0
168.3

41.9
42.3
37.3
43.4
58.2

49.4
43.4
44.3
39.6
40.4

99.0
98.1
87.1
86.8
95.8

78.7
74.5
66.5
72.1
78.7

97.9
98.5
99.2
99.6
99.4

71.3
72.5
71.7
70.9
71.3

93.4
93.4
93.3
92.8
92.5

134.1
135 8
137.4
134 1
135.0

119.3
119.8
119.4
118 9
118.7

117.3
134.2
119.7
125.6
118.8

93.9
93.9
90.9
97.0
97.0

122.6
100.3
104.2
102.7
108.0

June 5
12
19. _
26

95.4
106 0
104.7
108 5

105 2
112 4
114 8
109 5

85.5
86.0
80.7
82 0

110.1
110 4
110.3
110 8

104 0
116 5
114 7
116 8

124.5
150 9
134.3
150 6

44.3
44.7
42.3
68 3

36.6
34.0
27.2
18 3

95.5
92.9
94.2
85.9

75.7
92 0
75.7
71 4

98.9
100.1
99.2
99 0

70.9
68 7
69.4
70 2

92.1
91 7
91.5
91 5

120.3
126 8
125.2
117 9

119.4
118 9
120 2
119 3

117.0
121.4
120.8
123 0

100.0
97.0
90.9
103.0

84.8
94.0
99.5
99.5

July

104.5
91.5
111.4
111 8
116.1

105 2
84.8
107 1
103 8
109 5

71.5
77.2
79.8
74 6
77.2

111.7
111.5
112.6
113 5
116.0

117 9
99.0
119 1
119 3
121 2

125.6
158.2
162.8
134 1
188.7

106.0
166.1
171.6
232.0
309.6

20.4
14.5
22.1
22 1
28.1

96.5
90.0
104.2
94.9
94.2

72.1
70.7
67.1
70 9
68.2

97.9
98.2
97. 9
97 1
96.4

69.1
72.1
70.2
71.3
72.5

91.8
91.8
91.7
91 7
91.5

109.8
120.3
117 1
118 7

120.9
120.3
119.8
119 6
119 6

126.8
130.3
129.3
129 9
116.1

115.1
109.1
103.0
97.0
106.1

92.3
76.1
88.1
89.3
98.8

Aug. 7 ..
14
21 _
28

111.8
117.1
116 0
123.6

110 5
111 4
110 5
113 3

72.8
71.5
80 3
79.4

117 4
118.5
119 0
119 4

119 1
121 7
119 7
124*9

121 5
152. 1
151 8
197.7

284.0
225.0
167.9
131.1

25.1
48.5
59 1
67.7

75.6
99.0
102.9
103.9

70 9
67.1
67 9
59.9

96.2
96.0
95.9
96.5

71.3
67.2
68 7
72.1

91.5
91.5
91 5
91.5

113 0
111.4
110 6
110.6

120 4
120.7
120 3
120 4

127.2
116.8
122 8
113.0

109.1
109.1
109.1
115.1

93.3
92.3
90.1
91.0

Sept. 4
11
18
25

121.3
113 0
126.1
129 1

109 5
99 5
109 5
111 4

80.7
79 8
86.0
86 4

120 4
119 7
119.1
119 0

126 6
113 3
130 5
130 0

145.0
193 4
162.1
180 2

155.1
146.6
141.2
117.1

112.8
126 0
216.2
275 7

124.1
121.9
134.1
141.5

60.9
60 7
64.2
60 4

96.2
96.7
96.6
96 3

70.6
69 8
64.5
57 4

91.5
91 4
91.9
92 1

108.1
108 9
111.4
111 4

121.3
121 5
122.5
122 0

112.7
101 7
127.4
131 3

115.1
121.2
121.2
127.3

93.8
74.4
81.3
83.6

Oct.

2 .
9
16
23
30

132.3
136.2
136 4
140.0
148.6

108 1
111 4
110 5
108 1
110 5

80 7
91.2
88 2
87.7
86.0

120 3
120 8
122 5
125 3
127.8

130 3
130 2
133 0
132 9
133 7

173 8
141.4
186 4
159.9
168.8

110.9
104.9
87 9
104.6
112.9

355.7
398.7
397 4
391.1
363.0

131.2
147.3
143.1
144.0
151.8

59 5
64.5
67 3
75.1
80.1

96.6
95.5
96 5
96.7
97.7

54 0
49.4
51 3
47.5
47.9

92 0
92.1
92 8
92.8
92.9

113 0
111.4
113 0
115.4
116.3

123 1
123 3
123 2
123.0
122 4

119 6
143.6
118 7
145.4
127.7

133.3 82.8
115.1 97.3
124.2 93.3
103.0 107.2
109.1 107.0

Nov. 6
13
20. .
27

144 4
152. 1
157.3
147 8

107 1
103*8
103 8
92 4

84 2
88.6
89 9
86 8

129 2
128.5
129 9
131 1

125 0
122.3
118 6
103 6

147 3
140.0
137.4
188 1

99 6
92.4
73.9
70.6

354.0
340.4
337.9
307 7

125.7
139.2
133.4
98 4

80 7
86.4
80.6
76 2

100 0
99.6
97.2
97 3

47 9
49.4
49 1
49 4

93 2
93.5
93 6
93 7

114 6
113.0
110 6
112 2

122 9
122 4
122 2
122 5

123 2
127.3
130.3
123 6

109.1 95.5
106.1 105.2
112.1 113.7
115.1 98.8

Dec.

161 7
155.2
148.5
115.5

102 9
101 0
94 3
79.5

83 8
80.7
77 2
64.0

131 0
131.4
131.4
131.7

116 3
109.8
104 5
84.9

96 8
135.4
203.0
104.9

65.5
68.3
59.1
48.0

311.5
288.5
263,0
225.1

112.5
103.5
105.1
72.7

98.3
101.2
91.4
80.0

97.4
97.1
95.9
95.4

45 7
46.4
47.5
49.1

93.6
93.1
93.0
92.8

112 2
113.8
113.0

123 0
122.7
123 0
123.5

119 9
126.2
130.8
139.4

118.2
118.2
118.2
126.4

1. _
8
15_
22... .
29

118.0
146.0
149.5
148.4
149.1

55 0
79.5
90.0
91 0
86 7

75 4
74.6
79.4
81.6
83 3

130 9
131.0
131.1
131.0
129 9

81 4
103.4
104.4
103 6
104 5

159.8
123.9
112.3
103.3
136 5

50.7
56.5
57.4
55.9
62 3

211.9
147.7
166.8
176.6
155 7

65.3
88.7
94.5
96.5
89.1

72 8
102.5
112.4
100.5
99 2

95.2
95.0
94.5
95.1
94 5

49 1
49.4
50.9
51.3
51 7

92.7
92.7
91.9
91.2
91 0

113 0
109.8

112.2
113 8

124 6
124 8
123.3
122 1
121 5

116.9
157.8
132.6
131.6
122 5

133.3 110.4
115.1 122.9
103.0 144.5
100.0 152.2
97.0 148 5

5
12
19. .
26

149.6
148 6
145.7

92.4
95 2
98 6

82.0
82 5
83 8

131.7
135 0
135 5

106.7
106 4

89.8
115 0
129.4

74.2
59 8
69.3

135.3
133 2
117.0
131.9

85.5
80.1
84.9

91.4
87 3
78.7

93.8
94 1
92 6

52.8
53 2
53.6
54.0

90.8
90 2
89.8
89.4

112.2
111 4
111 4
111.4

121 7
121 0
120 8

141.0
122 9
125.5
112.7

97.0
97.0
97.0
106.1

3
10
17
24

3
10
17
24
31...

4
11
18...
25

120.4
122.1
97.5
110.2

115.2
115.9
105.2
122.1

1937
Jan.

Feb.

141.8
147.8
120.4
110.4

1 Sources of data are as follows: Bituminous coal and beehive coke production from U. S. Department of Commerce, Bureau of Mines; Lumber production, based on four
associations, from the National Lumber Manufacturers Association; Petroleum production (crude) from American Petroleum Institute; Loadings of freight cars from American
Railway Association; Building contracts from F. W. Dodge Corporation; Receipts of wheat from Bradstreet's; Receipts of cattle and hogs from U. S. Department of Agriculture,
Bureau of Agricultural Economics; Receipts of cotton from New Orleans Cotton Exchange; Wholesale prices (Fisher's index), based on 1923-24 as 100, from Professor Irving
Fisher; Price of cotton, middling, from New York Cotton Exchange; Price of iron and steel, composite, from Iron Trade Review; Price of wheat, No. 2, red, cash, from Chicago
Board of Trade through U. S. Department of Agriculture, Bureau of Agricultural Economics; Loans and discounts of member banks and debits to individual accounts from
Federal
Reserve Board; Call-money rate from Wall Street Journal; Business failures from R. G. Dun & Company.
2
The actual week for all items does not always end on same day.




WHOLESALE PRICES IN JANUARY

COMMODITIES

COMPARISON WITH
PREVIOUS MONTH
DECREASE INCREASE
20

0

10

10

20

COMPARISON
DECREASE
60

40

30

20

0

10

WITH SAME MONTH
1926
INCREASE
10

20

30.

40

60

COMPARISON
DECREASE
70

60.

80 60

40

30

20

0

10

10

20

30

40

50

60

70

FARM PRODUCTS, AVERAGE PRICE TO PRODUCER
W//////////A

WHEAT

iij

CORN
POTATOES

1

V////////////////////A

COTTON
COTTONSEED
CATTLE, BEEF
HOGS

f
\ '//$$&/////7//////^^^^

V//////////////////A

1

••
B
Hi

*

LAMBS

.
FARM PRODUCTS, MARKET F Rl CE

WHEAT. SPRING
WHEAT, WINTER,
CORN NO,, 2

V//////&

'

v/////////////

JS&

1

*

mz%.
fe^^/^^^
w/y///////////^

BURLEY
*

COTTON
WOOL, % GREASE? BOSTON )
CATTLE, STEERS

V///////////////////;

*
1

HOGS, HEAVY
SHEEP, EWES
SHEEP, LAMBS

^^ •

1

mm

/

y/ ///w///////t,

FOOD
'FLOUR. SPRING
FLOUR* WINTER
SUGAR, RAW
SUGAR, GRANULATED
COTTONSEED Oil,

...1

*

BEEF, STEER ROUNDS

, idr ,

HAMS, SMOKED(CHICAGO)

_

r

BEEF, CARCASS

'

COTTON PR INT CLOTH

*
*i
•

WW/Mfflffifr,

{

COTTON SHEETING
WORSTED YARNS
WOMEN'S DRESS GOODS.
sSl/ITINGS
SILK. RAW

if
^
^

i

,

*

1

if
i
*"

*
*

;

CLOTHING

COTTON YARN

HIDES, PACKER'S
HIDES, CALFSKINS
LEATHER. CHROME (BOSTON )
LEATHER. SOLE. OAK
BOOTS AND SHOES (BOSTON;
BOOTS AND SHOES (ST. LOUIS)

,

w/////////////////////

NO . 2

TOBACCO,

,

v////////////%%>

OATS
BARLEY
RYE,

WITH SAME MONTH
1925
INCREASE

Y//////S.
ir
.

.

FUEL

COAL, BITUMINOUS,
COAL, ANTHRACITE
COKE
PETROLEUM
PIG IRON, FOUNDRY
PIG IRON, BASIC
STEEL BILLETS, BESSEMER
COPPER

V///A

'«!"

*[*

.

,

*

1

1

1 —; — i

"{' '

METALS

^T

z

V7777/

LEAD
TIN
ZINC
LUMBER, PINE, SOUTHERN
LUMBER, DOUGLAS FIR
BRICK, COMMON (NEW YORK)
CEMENT
STEEL BEAMS
RUBBER CRUDE
SULPHURIC ACID




,

, V7,

•

,

,

BUILDING; MATERIAL AND MISCEL _ANEOUS
1

{

*

.

Y///////

'

Y/////A

&

.•. K ,

20
10
0 I0
20 50
DECREASE INCREASE

1

_

—

V////////,
,

40

,

,

,

30 20 10
DECREASE

Q

I0

20

* NO CHANGE

30

40

*°
INCREASE

6C

*

70

9°> $°

** NO QUOTATION

40

3° 2° I0
DECREASE

0

lo

20

W

40

M

INCREASE

&*

70

8C

6(

WHOLESALE PRICE COMPARISONS
NOTE.—Prices to producer on farm products and market price of wool are from U. S. Department of Agriculture, Bureau of Agricultural Economics; nonferrous metals
from the Engineering and Mining Journal-Press. All other prices are from U. S. Department of Labor, Bureau of Labor Statistics. As far as possible all quotations represent prices to producer or at mill. See diagram on page 6.
PEE CENT

ACTUAL PKICE

INCREASE (+) OR
DECREASE (—)

(dollars)
Unit

COMMODITIES

RELATIVE PRICE

(1913 average =100)

January, January, Decem- JanDecem- January, January, 1927, from 1927, from
ber,
uary,
Decem- January,
1927
1926
ber, 1926
1926
1927
ber, 1926

1926

January,
1926

FARM PRODUCTS—AVERAGE PRICE TO PRODUCERS
Wheat
Corn
Potatoes
Cotton
_
Cottonseed
Cattle, beef
Hogs
Lambs

__ _

.
_
._

_ _

_

1.228
.645
1.370
.100
18.05
.0642
.1097
.1092

122.2
.643
1.391
.106
18.55
.0645
.1097
.1065

158.1
.696
2.205
.174
28.40
.0631
.1099
.1279

-0.7
-0.3
+1.5
+6.0
+2.8
+0.5
0.0
-2.5

-22.7
-7.6
-36.9
-39.1
-34.7
+2.2
-0.2
-16.7

155
104
229
83
83
109
146
179

154
104
233
88
85
109
146
175

200
113
369
145
130
107
147
210

Cwt __ __
Cwt

1.44
1.40
.76
.50
.74
.97
21.00
.128
.44
9.72
11.77
5.64
12.04

1.45
1.37
.77
.50
.74
1.02
21.00
.134
.44
10.30
11.97
6.44
12.47

1.84
1.87
.80
.43
.72
1.05
25.00
.208
.54
9.38
11.63
7.89
14.84

+0.7
-2.1
+1.3
0.0
0.0
+5.2
0.0
+4.7
0.0
+6.0
+1.7
+14.2
+3.6

-21.2
-26.7
-3.7
+16.3
+2.8
-2.9
-16.0
-35.6
-18.5
+9.8
+2.9
-18.4
-16.0

158
142
121
134
119
152
159
100
176
114
141
120
155

158
139
123
133
118
160
159
105
176
121
143
137
160

201
190
129
114
112
152
189
162
216
116
139
168
190

Barrel
Barrel
Pound.
Pound
Pound _
Pound
Pound _
Pound

7.63
6.60
.051
.061
.08
.170
.141
.280

7.46
6.55
.051
.062
.09
.170
.145
.269

9.41
8.34
.042
.051
.1.1
.170
.147
.278

-2.2
-0.8
0.0
+1.6
+12.5
0.0
+2.8
-3.9

-20.7
-21.5
+21.4
+21.6
-18.2
0.0
-1.4
-3.2

167
172
146
143
113
131
108
169

163
170
144
144
117
131
111
162

205
217
119
119
156
131
112
167

.311
.067
.080
1.40
1.00
3.29
5.59
.151
.167
.45
.43
6.40
4.85

.301
.068
.080
1.38
1.00
3.29
5.34
.155
.169
.45
.43
6.40
4.85

.403
.087
.101
1.55
1.0.5
3.60
6.71
.150
.193
.46
.46
6.40
5.00

-3.2
+1.5
0.0
-1.4
0.0
0.0
-4.5
+2.6
+1.2
0.0
0.0
0.0
0.0

-25.3
-21.8
-20.8
—11.0
-4.8
-8.6
—20.4
+3.3
-12.4
-2.2
-6.5
0.0
-3.0

126
126
130
180
213
213
154
82
89
167
96
206
153

122
128
130
177
213
213
147
84
90
167
96
206
153

163
164
165
200
224
233

Short ton__ 4.39
Long ton... 11.48
Short ton. _ 3.91
Barrel
1.750

3.89
11.49
3.88
1.750

3.49

-11.4
+0.1
-0.8
0.0

+11.5

7.31
1.550

-46.9
+12.9

200
216
160
187

177
216
159
187

300
166

20.26
18.00
35.00
.1299
.0758
.6479
.0666

22.26
20.00
35.00
.1382
.0926
.6142
.0830

-1.2
-2.7
0.0
-2.3
—3.6
-2.8
—5.1

-9.0
-10.0
0.0
-6.0
-18.1
+5.5
-19.8

128
126
136
87
180
153
128

127
122
136
85
173
149
121

139
136
136
91
212
139
151

40.81
16.43
17.00

49.43
15.50
16.00

-1.2
-2.7
+9.7

-17.4
+6.0
+6.3

179
183
236

177
178
259

215
168
244

-0.6
0.0
+4.7
0.0

-0.6
+2.6
-55.7
+7.1

163
132
32
75

162
132
33
75

168
129
75
75

Bushel
Bushel...
Bushel
Pound _
_ _ _ Ton
Pound .
Pound _
__ _ Pound
_

FARM PRODUCTS—MARKET PRICE
Wheat, No. 1, northern spring (Chicago)
Wheat, No. 2 red, winter (Chicago)
..
Corn, contract grade No. 2, cash (Chicago)
Oats, contract grades, cash (Chicago)
Barley, fair to good, malting (Chicago) _.
_ _ __
Rye, No. 2, cash (Chicago)
Tobacco, burley, good leaf, dark red (Louisville)
Cotton, middling upland (New York)
Wool, M blood, combing, Ohio and Pennsylvania fleeces (Boston)
Cattle, steers, good to choice, corn fed (Chicago) _
Hogs, heavy (Chicago)
Sheep, ewes (Chicago) _
Sheep, lambs (Chicago)
._ __ __ ..

.

Bushel
Bushel
Bushel
Bushel
Bushel
Bushel
Cwt
Pound
Pound _
Cwt

Cwt

FOOD
Flour standard patents (Minneapolis) .
Flour, winter straights (Kansas City)
Sugar, 96° centrifugal (New York) .
Sugar, granulated, in barrels (New York) _
_
Cottonseed oil, prime summer yellow (New York)
Beef, fresh carcass good native steers (Chicago) Beef, fresh, steer rounds No. 2 (Chicago)
Pork, smoked hams (Chicago) _

__
_

CLOTHING
Cotton yarns, carded, white, northern, mule spun, 22-1 cones (Boston) __. Pound _.
Yard..
Cotton-print cloth, 27 inches, 64 x 60-38K"-5' 35—yards to pound
__
Cotton sheeting, brown 4/4 Trion (New York)
Yard
Pound
Worsted yarns, 2/32's cross-bred stock, white, in skein (Boston)
Yard
Woman's dress goods, French, 39 inches at mills, serge.
_
Yard .
Suitings, wool, dyed blue, 55-56 inches, 16-ounce Middlesex (N. Y.)
Pound
Silk, raw, Japanese, Kansai No. 1 (New York)
Pound
Hides, green salted, packers' heavy native steers (Chicago)
Pound _
Hides, calfskins, No. 1, country, 8 to 15 pounds (Chicago)
Leather, chrome calf, dull or bright "B" grades (Boston) _
. _ _ . Square foot.
Pound .
Leather, sole, oak, scoured backs, heavy (Boston)
Boots and shoes, men's black calf, blucher (Massachusetts) _
. _ _ Pair
Pair
Boots and shoes, men's dress welt tan calf (St. Louis)

82
102
171
103
206
158

FUEL
Coal, bituminous, mine-run Kanawha (Cincinnati)
.*
Coal, anthracite, chestnut (New York tidewater)
Coke, Connellsville (range of prompt and future) furnace —at ovens
Petroleum, crude, Kansas- Oklahoma—at wells

159

METALS
Pig iron, foundry No. 2, northern (Pittsburgh)
Pig ron, basic, valley furnace. _.
_
Steel billets, Bessemer (Pittsburgh)
_
_
Copper ingots, electrolytic, early delivery (New York)
Lead, pig, desilverized, for early delivery (New York)..
Tin, pig, for early delivery (New York)
_
Zinc, slab, western (St Louis)

_

Long ton
20.51
Long ton. __ 18.50
... Long ton- 35.00
Pound _
.1330
Pound
.0786
Pound .
.6664
Pound
.0702

BUILDING MATERIAL AND MISCELLANEOUS
Lumber, pine, southern, yellow flooring, 1 x 4, "B" and better (Hattiesburg district)
Lumber, Douglas fir, No. 1, common s 1 s, 1 x 8 10 (Washington) _
Brick, common red, domestic building (New York) _.
______ _
Cement, Portland, net without bags to trade, f. o. b. plant (Chicago
district) ._
Steel beams, mill (Pittsburgh)
_
Rubber, Para, Island, fine (New York)
Sulphuric acid 66° (New York). .
_ _




Mfeet
41.31
Mfeet
16.89
Thousand- 15.50
Barrel
Cwt
Pound
Cwt

..

1.65
2.00
.256
.75

1.64
2.00
.268
.75

1.65
1.95
.605
.70

PIG IRON PRODUCTION AND UNITED STATES STuEL CORPORATION'S UNFILLED ORDERS
[January, 1927, is latest month plotted]
14,000

600

AUTOMOBILE PRODUCTION AND NEW BUILDING CONTRACTS AWARDED IN 27 NORTHEASTERN STATES
[January, 1927, is latest month plotted]
800

800

BUILDING CONTRACTS AWARDED,
(27 STATES)
N

TOTAL AUTOMOBILE
PRODUCTION

40

LOCOMOTIVE SHIPMENTS AND UNFILLED ORDERS
[January, 1927, is latest month plotted]
4,000
2,000




1926

BUSINESS SUMMARY
Index and relative numbers based on the 1919 monthly average as 100—except unfilled orders which are based on the 1920 average—enable comparisons to be made of the
relative condition of the several phases of business. The use of index and relative numbers is more fully explained on the inside front cover, while further details
are given in the table entitled "Indexes of Business" on pages 20 to 22]

1926

YEARLY AVERAGE

1923

PRODUCTION:
Manufacturing (64
commodities— adjusted) x _ _ _
Raw materials, total- .
Minerals
Animal products
Crops__ _ _ _
Forest products.
Electric power
Building (awards— floor space)
STOCKS (45 commodities; seasonal
adjustment)-UNFILLED ORDERS (relative to 1920) _ _
SALES (based on value) :
Mail-order houses (4 houses)
Ten-cent chains (5 chains)
Wholesale trade
Department stores (359 stores)
PRICES (recomputed
to 1919 base) :
Producers7, farm products. _
Wholesale, all commodities
Retail food
Cost of living (including food)
CHECK PAYMENTS (141 cities— seasonal adjustment)
FACTORY EMPLOYMENT (1919 base)
TRANSPORTATION :
Net freight ton-mile operation
Car loadings (monthly total)
Net available car surplus (end
of month) _
1

1924

1925

1926

1937

Decem- January
January October November
ber

PER CENT INCREASE (+)
OR DECREASE(— )
January,
1927,
from
December,
1926

January,
1927,
from
January,
1926

119
114
136
117
102
121
144
106

113
119
126
117
118
119
152
108

126
117
133
113
111
126
169
138

128

121
142
114
117
119
188
133

122
111
122
107
109
108
189
117

133
179
165
117
232
120
202
135

121
165
158
125
199
113
199
131

113
140
150
126
149
106
209
119 i

116
122
147
111
122
97

+2.7
-12.9
-2.0
-11.9
-18. 1
-8.5

-5.7
+ 9.9
+ 20.5
+ 3. 7
+ 11.9
-10.2

95

-20.2

-18.8

119
74

135
52

144
56

171
50

167
61

174
46

198
45

186
47

182
47

2.2
0.0

+ 9.0
-23.0

99
165
83
124

105
185
82
125

118
209
84
131

123
229
84
136

116
166
78
114

150
257
94
158

153
247
86
157

166
466
78
234

107
172
74
114

-35.5
-63. 1
-5. 1
-51. 3

-7.8
+ 3.6
-5. 1
0.0

65
75
78
94

64
73
78
95

70
77
84
98

65
73
86
98

68
76
88
99

62
73
86
97

62
72
87
98

61
71
87
98

60
71
85
97

-1.6
0.0
-2.3
-1.0

-11.8
-6.6
-3.4
-2.0

103
93

110
84

127
84

135
85

139
85

131
86

124
84

135
84

140
83

+ 3.7
-1. 2

+0.7
-2.4

115
119

108
116

115
122

123
127

114
127

146
172

131
123

121
108

130

+ 20.4

+ 2.4

25

139

146

124

152

48

87

167

157

-6.0

+ 3.3

See p. 28, January, 1925, issue (No. 1), for details of adjustment.

COURSE OF BUSINESS IN JANUARY
GENERAL CONDITIONS
The output of raw materials was smaller in January
than in December but greater than a year ago.
Manufacturing production, after adjustment for differences in working time, showed practically no
change from the previous month, but was below a year
ago. Stocks of commodities at the end of the month,
after allowance for seasonal conditions, were lower
than in December but greater than a year earlier.
Unfilled orders for manufactured commodities, principally iron and steel and building materials, though
showing no change from December, were generally
lower than in January a year ago. Building contracts, measured in floor space, were lower than in
either the previous month or January of last year.
The dollar volume of trade, as measured by check
payments, after adjustment for seasonal conditions,
was greater than in either the preceding month of
January, 1926. Mail-order sales were lower than in
either the preceding month or the same month a year
34959—27



2

earlier. Sales by 10-cent chain stores, however,
showed a rise over a year ago. Department-store
trade showed no change in sales volume from January,
1926. The dollar volume of wholesale trade, however,
was lower than in either the preceding month or
January a year earlier. Factoiy employment and
pay rolls were lower than in either the previous month
or January, 1926. More goods moved into consumption, as seen from data on car loadings, than in either
the preceding month or the same month of last year.
Wholesale prices averaged lower than a year ago,
with a similar comparison in the cost of living. Prices
of industrial stocks averaged lower than in December
and a year ago Railroad-stock prices, however, were
higher than in either period. Interest rates on both
commercial paper and call loans were lower than in
either prior period. Defaulted liabilities of failing
business firms were higher than in either the previous
month or January of last year.

10
SUMMARY OF INDEXES OF BUSINESS
PRODUCTION

The output of raw materials was smaller in January
than in December but greater than a year ago, increases over January, 1926, being registered in all
groups except forest products, which declined. Mineral production showed larger output than a year ago,
except in the case of gold and zinc, each of which declined. Larger marketings of animal products were
registered than last year except in the case of cattle
and calves and hogs, which declined. All groups of
crops were marketed in larger quantities than a year
ago except grains and sundry miscellaneous crops
which showed decreases.
Manufacturing production, after adjustment for
differences in working time, increased nearly 3 per
cent over the previous month, but was lower than
a year ago. As compared with last year, all groups
were lower, except textiles, nonferrous metals, leather,

chemicals and oils, and tobacco, which showed increases. As compared with the preceding month, decreased activity was registered in textiles, lumber,
leather, chemicals and oils, and stone and clay products,
other groups showing increases.
COMMODITY STOCKS

Stocks of commodities held at the end of the
month, after adjustment for seasonal conditions,
were lower than in December, 1926, but substantially
larger than a year ago. Stocks of raw foodstuffs,
although showing smaller holdings than in the preceding month, were larger than a year earlier, while other
raw materials for manufacture showed larger stocks
than in either prior period. Holdings of manufactured
foodstuffs were smaller than in either the preceding
month or January, 1926, while other manufactured
commodities were held in larger quantities than in
either prior period.

RELATIVE PRODUCTION, STOCKS, AND UNFILLED ORDERS FOR MANUFACTURED COMMODITIES
[1920 monthly average=100. Adjustment has been made for both stocks and production for their respective seasonal movements. Unfilled orders are principally those of
iron, steel, and building materials. January, 1927, is latest month plotted]

SALES

The index of unfilled orders for manufactured
commodities, principally iron and steel and building
materials, showed no change from December, a decline
in the index for iron and steel being offset by an
increase in building materials. As compared with last
year, the general index was lower, each major group
showing the same trend.
Mail-order sales were lower in January than in
either the preceding month or in January, 1926.
Sales by 10-cent chain stores, however, although
showing a seasonal decline from the previous month,



were greater than a year ago. Although trade of
chain groceries, drug and cigar stores was lower than
in December, the January volume of business was
substantially ahead of January, 1926. Sales by chain
shoe and music stores, however, showed declines from
both the preceding month and January, 1926. Department-store trade showed no change in sales volume
from a year ago, while department-store inventories
were lower. Wholesale trade showed lower sales
volume than in either the preceding month or January, 1926, all lines declining from a year ago except
shoes and drugs, which showed larger business.

11
PRICES

The wholesale-price index showed no change from
December but was substantially lower than in January
of 1926. All groups entering into the index showed declines from the preceding month, except farm products,
which advanced. As compared with a year ago, all
groups were lower except fuels, which showed higher
prices. Reclassified, the index of prices showed an increase in raw materials as compared with the preceding month and declines in the case of producers and
consumers' goods. As compared with January, 1926,
however, all groups were lower. Commercial indexes
of wholesale prices showed declines from both the
preceding month and January, 1926.

The index of prices received by farmers declined
from both the previous month and January of last
year, increased prices, as compared with the preceding
month, for fruits and vegetables and cotton being
insufficient to offset declines in dairy and poultry
products and other unclassified items. As compared
with January, 1926, all groups were lower, except
meat animals, which showed no change.
Retail prices for food and fuel were lower than in the
preceding month with food prices also showing a
decline from a year ago. The general cost-of-living
index was lower in January than in either the previous
month or January, 1926.

WHOLESALE PRICE COMPARISONS, BY GROUPS
[January, 1927, is the latest month plotted]
300

BUILDING MATERIALS
280

260

240

220

CO
DC
LJ

m 200

X ,80
O

-z.

160

140

120
METALS AND METAL PRODUCTS
1913 MONTHLY AVERAGE

100

1919

1920

1921

I922

EMPLOYMENT

Fewer workers were carried on industrial pay rolls
in January than in either the preceding month or
January, 1926. More factory workers, however, were
employed in the leather and paper and printing establishments than a year earlier, with leather factories
showing larger employment also than in December.
Factory pay-roll payments were likewise smaller than
in either the previous month or January a year earlier.
All industrial groups showed smaller pay-roll payments than in either the preceding month or the cor


I923

I924

1925

I926

responding month of 1926, except leather, which
showed larger payments than in December, and paper
and printing and chemical factories, which showed
larger payments than a year ago. Although reports
from States and cities were not uniform with respect
to employment in factories, there was little deviation
from the general trend for the country. Reduced to
a percentage of the number on factory pay rolls,
layoffs were greater in January than a year earlier,
while industrial accessions were smaller. Discharges
were also greater than in January, 1926.

12
REVIEW BY PRINCIPAL BRANCHES OF INDUSTRY AND COMMERCE
TEXTILE INDUSTRIES

More wool was received at Boston in January than
in the preceding month, but the January receipts were
lower than a year ago, due to smaller receipts of foreign
wool. Imports of wool, though larger than in December, were smaller than in January, 1926. The
consumption of wool by textile mills was smaller than
in December, but greater than in January, 1926.
Wool machinery was generally less active than in
December, but more active than in January, 1926.
Consumption of cotton by textile mills, although
smaller than in December, was larger than in Janu-

ary, 1926. Exports of unmanufactured cotton,
although smaller than in December, were larger
than in January, 1926. Stocks of cotton at mills
and warehouses at the end of January were larger
than a year ago; likewise the world visible supply of
cotton was larger.
Fewer cotton spindles were active in January than a
year ago, but the hourly activity was greater. Reduced to a percentage of plant capacity, the hourly
activity of cotton spindles was greater in January than
in either the previous month or January, 1926.

THE TEXTILE INDUSTRIES
[Relative numbers, monthly average 1923-1925 taken as 100]

1920

[

'i

1921

A

1922

1923

CONSUMPTION \
A
A \
/»

/ta '
W}
\\
y
V »'
\\
\ i — EXPOR1 \J
IfJl

B

/\

i?

J^M

*

'

V
u J . , 1 . , 1 , , j.lllJilliJ- ,,l, ,!,,],,

1924

'

^Vf'
fj
I

fx !

\
*

..t,,t..l,,

1925

N
i\
i' i

A
I1
/ \
/ \

! ys/\

^f

j^

\v

\i

M
I/\

1926

1927

/I
/
|
f
I

fV jK"
\vf
\ i
V

>/

:oTTor j

••MM!..

n l n l n ! , , nlnlu!., n t n l l . l l ,

The production of cotton textiles was greater than
in either the preceding month or the same month of
1926. Unfilled orders for textiles at the end of January were substantially larger than at the end of either
comparative period. Stocks of cotton textiles on
January 31 were smaller as compared with both prior
periods. The production of cotton goods in the New
Bedford district, although smaller than in December,
was larger than a year ago. Exports of cotton cloth
were smaller than a year ago.
Consumption of silk was greater in January than in
either the previous month or January, 1926. Stocks
of silk held at manufacturing plants, although larger



1920

192!

1922

1923

1924

1925

1926

1927

than at the end of the previous month, were considerably smaller than a year ago. Warehouse stocks,
however, were larger than in either prior period.
Wholesale prices for wool showed no change from
December but were generally lower than a year ago.
Prices of cotton, though averaging higher than in
December, were also lower than last year. Cotton
yarns showed generally lower prices than in either
prior period. The wholesale price of silk averaged
lower than in either the previous month or January,
1926. The general wholesale price index for cloths
and clothing averaged lower in January than in either
the previous month or January, 1926.

13
METAL INDUSTRIES

The consumption of iron ore in January was smaller
than in either the previous month or January of the
previous year. Stocks of iron ore at the end of the
month, though smaller than in the previous month,
were greater than a year ago. Pig-iron production,
although larger than in December, was smaller than
in January, 1926.
The output of steel ingots was greater than in
December but smaller than a year ago, while unfilled
orders for steel showed declines from both periods.
The output of steel sheets by independent manufacturers, though greater than in December, was smaller
than a year ago.
Bookings for structural steel were smaller, while
bookings for fabricated steel plate were greater than
in either comparative period. The production of steel
barrels, although smaller than in December, was
larger than a year ago. Sales of mechanical stokers,

measured in horsepower, were greater than in either
the previous month or January of the previous year.
New orders for machine tools, however, showed
declines from both prior periods.
The mine and smelter production of copper were
each greater than in either the preceding month or
January, 1926. Stocks of blister copper held in
North and South America were larger than in either
the previous month or the same month of 1926, with
similar comparisons in the case of refined copper
stocks held in the same positions. Exports of refined
copper were larger than a year ago, while domestic
shipments of refined showed increases over both the
preceding month and the same month of 1926.
Deliveries of tin, to consuming establishments were
smaller than in either the preceding month or January,
1926, while the world visible supply of tin continued to
decline as compared with both prior periods. Domestic stocks of tin, however, were larger than in either the
previous month or January, 1926.

THE METAL INDUSTRIES
[Relative numbers, monthly average 1923-1925 taken as 100]

1920

1921

1922

!923

1924

1925

1926

1927

1920

1921

1922

1923 1924

1925

1926

1927

1920

1921

1922

1923

1924

1925

1926

1927

1920

1921

1922

1923

1925

1926

1927

Production of zinc was larger than in either the preceding month or the same month of the year 1926.
Stocks of zinc held at refineries were larger at the end of
January than in either the previous month or January,
1926.
Shipments of enameled sanitary ware, although larger
than in the previous month, were smaller than a year ago.
New orders for tubular plumbing goods, although greater
than in December, were lower than in January of last year.



1924

Wholesale prices of iron and steel products were
generally lower than in either the preceding month or
January, 1926. Prices for copper and zinc showed
similar comparisons, while for tin January prices,
though lower than in December, were higher than a
year earlier. The general wholesale price index for
metals and metal products declined from both the
preceding month and January, 1926.

14
FUELS

The production of bituminous coal, although
smaller than in December, was greater than a year
ago The output of anthracite coal was substantially
lower than in December, no comparison being possible
with January, 1926, because of strike conditions a
year ago. Wholesale prices for bituminous, although
lower than in the preceding month, averaged higher
than a year ago, with retail prices showing the same
comparison. The production of beehive coke, although greater than in the preceding month, was
smaller than a year ago, while by-product coke
production showed declines from both comparative
periods. The wholesale price of c»ke averaged lower
than in either the previous month or the same month
of last year.
Petroleum production, though showing no material
change from the preceding month, was considerably
greater than a year ago. The wholesale price for
petroleum, though showing no change from December, was also greater than last month.
BEEHIVE AND BY-PRODUCT COKE PRODUCTION
[January, 1927, is latest month plotted]

BY-PRODUCT-

7
\

A

\J_

A J

a year ago, while domestic shipments showed similar
comparisons. The output of inner tubes, although
greater than in the previous month, was smaller than
a year ago, while inner tube shipments were larger
than in either prior period. Manufacturers' stocks
of both pneumatic tires and inner tubes were greater
than a year ago. The wholesale price of rubber
averaged higher than in the preceding month, but was
substantially lower than a year ago.
HIDES AND LEATHER

Imports of hides and skins in January, although
greater than in the preceding month, were substantially lower than in January, 1926. Prices of hides
were generally higher than in either the preceding
month or the same month of last year. Calfskins,
however, though higher in price than in the preceding
month, were lower than a year ago.
Production of sole leather, although smaller than
in December, was greater than last year, while the
output of oak and union harness leather was smaller
than in either prior period. Unfilled orders for oak
and union harness, although lower than at the,end of
December, were greater than a year ago. Exports
of sole leather were smaller than in either the previous
month or January of last year, while exports of upper
leather, though smaller than in December, were
greater than in January, 1926. Prices for leather,
showing no change from the preceding month, were
generally lower than a year earlier.
The production of shoes was smaller than in December, but greater than last year. Exports of shoes
showed similar comparisons with both prior periods.
Wholesale prices for shoes, although showing no change
from the preceding month, were generally lower than
a year ago.
PAPER AND PRINTING

1921

1922

1923

1924

1925

1926

AUTOMOBILES AND RUBBER

More passenger automobiles were produced in the
United States than in December but fewer than a
year ago. Truck production, however, was greater
than in either prior period. Canadian production of
passenger automobiles in January was almost double
the production of December, wfeile the decline from
a year ago was negligible when compared with the
decline in domestic production. Canadian truck
production was more than twice as large as in December but showed a decline from a year ago as against
an increase over a year ago in domestic production.
The production of pneumatic tires in January was
greater than in either the preceding month or January




Newsprint paper production in the United States
although greater than in December, was smaller than
a year ago, while the output of newsprint in Canada
showed a decline from the previous month and a
substantial increase over the previous year. Shipments of newsprint in the United States showed declines from both prior periods, while Canadian shipments showed a decline from the preceding month
but a considerable increase over last year. Stocks
of newsprint held at domestic mills, although greater
than at the end of the previous month, were lower
than a year earlier. Stocks at Canadian mills were
substantially larger than in either prior period.
Wholesale prices of newsprint were generally lower
than in either the preceding month or the same month
of 1926.

15
NEWSPRINT PAPER PRODUCTION AND MILL STOCKS
[January, 1927, is latest month plotted]

The production of coated and uncoated book papers
was greater than in either the preceding month or
January, 1926, while shipments of coated paper were
greater than a year ago, but smaller than in December, and of uncoated paper smaller than a year ago
but larger than in December. Unfilled orders for
book papers, both coated and uncoated, were smaller
than a year earlier. More book titles were produced
in January, both of American production and imported,
than in either the preceding month or the same month
of 1926.
BUILDING CONSTRUCTION

Building costs were generally lower in January than
a year earlier. The volume of new building contracts
awarded, measured in value, was smaller in January
than in either the preceding month or January, 1926.
The figures for a year ago, however, include a $50,000,000 contract let for a large industrial building project.
The value of awards for new commercial buildings in
January showed an increase over both the preceding
month and January, 1926, while educational buildings
and other public works and utilities showed increased
lettings over a year previous, as well. Measured in
floor space, new contracts awarded for commercial
buildings, although greater than in the preceding
month, were substantially smaller than a year ago.
All other groups showed declines in floor space from
both the preceding month and January, 1926, except
educational buildings which showed an increase only
over last year.
LUMBER AND LUMBER PRODUCTS

The production of southern pine and Douglas fir
lumber was smaller than in either the preceding month
or the corresponding month of 1926. Shipments of
both species of lumber showed increases over the
preceding month but declines from a year ago, while
new orders showed similar comparisons. Prices for
southern pine were lower than for either the previous
month or January, 1926, while Douglas fir prices,
though lower than in the preceding month, averaged
higher than a year ago. The production of other




species of lumber was generally lower than in either the
previous month or January of last year, while composite
lumber price indexes showed similar comparisons.
The production of maple flooring, although smaller
than in the preceding month, was greater than a year
ago, while oak flooring production showed declines
from both prior periods. Stocks of flooring showed
larger holdings of oak than in either the previous
month or a year ago, but smaller inventories of maple.
Unfilled orders for flooring, both oak and maple, were
smaller than a year ago.
New orders for piano benches and stools were smaller
than in either the previous month or January, 1926,
with unfilled orders also showing a decline from last
year. New orders for plywood, although greater than
in the previous month, were smaller than a year ago,
while purchases of rotary-cut veneer showed declines
from both prior periods.
STONE AND CLAY PRODUCTS

The production of face brick was smaller than in
either the previous month or January, 1926, with
shipments showing similar comparisons. Stocks of
face brick at the end of the month were greater than
at the end of either the preceding month or a year
ago. Unfilled orders for face brick, although greater
than in the previous month, were lower than in the
preceding year.
CEMENT PRODUCTION AND STOCKS
[January, 1927, is latest month plotted]

New orders for vitreous china plumbing fixtures,
although greater than in the previous month, were
smaller than last year. Shipments of vitreous china
were larger than in either prior periods, with stocks
showing a similar condition.
New orders for architectural terra cotta, measured
both in tonnage and in value, showed declines in
January from both the preceding month and January,
1926. The production of Portland cement was
smaller than in the previous month but greater than
a year ago, while shipments showed similar comparisons. Stocks of cement were substantially larger
than in either prior period, while wholesale prices
averaged lower. New contracts for concrete pavements, although smaller than in December, were
greater than in January of the previous year.

16
CHEMICALS AND OILS

The wholesale price index numbers for
showed general declines from a year ago
exception of crude drugs, which advanced.
of turpentine and rosin at the principal
ports were greater than a year ago, while

chemicals
with the
Receipts
southern
stocks of

tonseed oil was greater than a year ago with stocks
showing a similar comparison. The wholesale price
of cottonseed oil, although higher than in the previous
month, was substantially lower than a year earlier.
FOODSTUFFS AND TOBACCO

The visible supply of wheat was larger than a year
ago. Receipts and shipments of wheat showed similar
comparisons with last year. Exports of wheat were
likewise larger than a year ago, while prices averaged
substantially lower. The visible supply of corn w^as
larger than a year ago while grindings of corn for
starch and glucose manufactures were smaller than
last year. Corn prices, averaging higher than in the
preceding month, were lower than last year. The
visible supply of oats was smaller than a year ago as
was the supply of barley.
Receipts and shipments of cattle at primary markets
were smaller than last year. Cold-storage holdings
of beef products, on the other hand, were larger.
Prices for cattle averaged higher than in either the
previous month or January, 1926, while beef prices
turpentine and rosin held at ports were generally showed little change from either period. Receipts
lower. Wholesale prices of naval stores were gener- and shipments of hogs were also smaller than a year
ago, while cold-storage holdings of pork and pork
ally lower than last year.
Receipts of cottonseed at the mills were substan- products were larger. Prices for hogs averaged higher
tially greater than a year ago, as was consumption of than in either the previous month or January, 1926,
cottonseed. Stocks of cottonseed, however, were while pork prices were generally lower than in either
smaller than a year ago. Production of crude cot- prior period.
WHOLESALE PRICES OF CHEMICALS, BY GROUPS
[January, 1927, is latest month plotted]

THE FOODSTUFF INDUSTRIES
[Relative numbers, monthly average 1923-1925 taken as 100]

1920

I92S

1922

1923

1924 ,, 1925

1926

1927

1920

1921

1922

1923

1924

1925

1926

1927

1920

1921

1922

1923

1924

1926

1927

1920

1921

1922

1923

1924

1925

1926

1927




1925

17
Receipts of poultry were larger than a year ago with
a similar comparison for cold-storage holdings. Butter
receipts were smaller than last year, while storage
holdings were only about half as large. Likewise,
cheese receipts were smaller than a year ago with a
substantial decline in storage holdings. Egg receipts
were larger than last year, but storage holdings were
only about one-half as large.
Imports of raw sugar were smaller than last year
with a similar comparison in meltings. Raw sugar
stocks at refineries were twice as large as a year earlier.
Receipts of domestic cane sugar at New Orleans were
substantially lower than a year ago, while exports of
refined sugar from the United States were also lower
than a year ago. Wholesale prices of sugar, both raw
and refined, averaged higher tlian in either the preceding month or the same month of 1926.
Imports of coffee were smaller than in January, 1926,
but the total visible supply in the United States was
greater. Clearances of coffee from Brazil were larger
than last year. Tea imports were greater than a year
ago, while stocks of tea in the United Kingdom showed
a similar comparison.
Tax-paid withdrawals of cigars from warehouses
indicate larger consumption in January than in either
the previous month or the corresponding month of
1926. More cigarettes were likewise consumed than
in either prior period. The consumption of manufactured tobacco and snuff on the other hand, although
greater than in the preceding month, was smaller than
a year ago. Exports of unmanufactured leaf tobacco
were greater than in either period, while cigarette
exports were smaller.

Garloadings of goods were larger than in either the
preceding month or January a year earlier, the increase
over last year in the total being due to larger loadings
of coal and coke, miscellaneous merchandise, and 1. c. 1.
All other groups showed smaller loadings. The freight
car surplus at the end of the month was greater than
a year earlier.
Shipments of railroad locomotives by principal
manufacturers were smaller than in either the previous
month or January, 1926. Unfilled orders, on the
other hand, although smaller than a year ago, were
larger than at the end of the preceding month.
DISTRIBUTION MOVEMENT

Mail-order business for January showed a smaller
dollar volume than in either the preceding month or
January, 1926. Sales by 10-cent stores were greater
in value than a year ago. Department-store business
SALES BY MAIL-ORDER HOUSES AND TEN-CENT CHAIN STORES
[January, 1927, is latest month plotted]

TRANSPORTATION

SURPLUS, SHORTAGE, AND BAD-ORDER FREIGHT CARS

showed no change from last year, while wholesale trade
showed smaller dollar volume. Newspaper advertising was smaller than in either the previous month
or January, 1926, while magazine advertising, although
smaller than in the previous month, was greater than
a year ago. Postal receipts showed a seasonal decline
from December, but were larger than a year ago.

[January, 1927, is latest month plotted]

BANKING AND FINANCE

Ohio River traffic between Pittsburgh and Wheeling
was greater than a year ago, as was the case of traffic
on the Monongahela and Allegheny Rivers. Clearances of vessels plying foreign trade, although smaller
than in December, were greater than a year ago.

New life-insurance business written in January,
although smaller than in the previous month, was
greater than a year earlier, all classes showing larger
policy values than in January, 1926, except industrial.
January sales of ordinary life insurance exceeded those
of a year ago for all sections of the country except the
southern district, where a decline was registered.
Check payments in New York City, although smaller
than in December, were greater than a year earlier,
while for the country outside New York, declines were
registered from both periods. Bills discounted by
Federal reserve banks were smaller at the end of January than at the end of either the preceding month or
34959

27




3

18
January a year earlier. The Federal reserve ratio
averaged higher than in either comparative period.
Loans and discounts of Federal reserve member banks,
although smaller than at the end of the preceding
month, were still greater than a year ago.

lishments showing greater failures than in either comparative period, except agents and brokers, which
showed smaller liabilities than in December, and manufacturing establishments which showed a smaller
number of failing firms than a year ago.

BILLS DISCOUNTED AND TOTAL INVESTMENTS OF FEDERAL
RESERVE BANKS

NUMBER OF BUSINESS FAILURES AND DEFAULTED LIABILITIES
[January, 1927, is latest month plotted]

[January, 1927, is latest month plotted]

Interest rates on both time and call loans averaged
lower than in either the previous month or January a
year earlier. Brokers' loans by New York Federal
reserve banks were smaller at the end of the month
than at the end of either the preceding month or January, 1926. Prices of industrial stocks showed lower
averages than in either the previous month or January, 1926, but railroad stocks showed higher averages
than in either comparative period.
LOANS, DISCOUNTS, AND TOTAL INVESTMENTS OF FEDERAL
RESERVE MEMBER BANKS

1921

1922

1923

1924

1925

1926

GOLD AND SILVER

Both imports and exports of gold were larger than
in either the previous month or January a year earlier,
with January imports showing a substantial import
balance, continuing the trend established in October,
1926.
GOLD TRADE BALANCE: SHOWING EXCESS OF IMPORTS OR
EXPORTS
[January, 1927, is latest month plotted]

[January, 1927, is latest month plotted]

T

-TOTAL LOANS AND DISCOUNTS

2z °

TOTAL INVESTMENTS

o

3 5

1923

1924

1926
1920

Bond prices were generally higher than in either
the preceding month or the same month of the previous year. Dividend payments scheduled for February were substantially larger than a year ago.
Business failures were larger in January, both in
number and in defaulted liabilities, than in either the
preceding month or January, 1926, all classes of estab-




1

1921

|

1922

|

1923

|

1924

|

1925

|

1926

Both imports and exports of silver were larger than
in December but smaller than a year ago. Silver
production in the United States was greater than in
either the previous month or a year ago, while Canadian production of silver, although smaller than in
December, was larger than last year. The price of

19
silver averaged higher than in the previous month
but was still substantially below prevailing quotations
a year earlier.

ADDITIONAL PRELIMINARY RETURNS, CENSUS OF MANUFACTURES, 1925

FOREIGN EXCHANGE AND TRADE

Exchanges on the principal currencies showed no
change from the preceding month, except for declines
in the Italian lira, the Japanese yen, the Canadian
dollar, and the Brazilian milreis, and increases in the
case of the Indian rupee and the Argentine peso. As
compared with last year, declines were noted in all
currencies, except the French franc, Italian lira, and
the Japanese yen, which rose.
Imports into the United States showed declines in
January from both the preceding month and the
same month of the previous year, while exports of
merchandise, although smaller than in December,
were greater than a year earlier.
CENSUS OF MANUFACTURES, 1925

The Bureau of the Census announces preliminary
reports from additional manufacturing industries,
collected pursuant to the census of manufactures for
the year 1925. The following table summarizes some
important data made available since the publication
of the previous issue of the SURVEY, earlier figures
having been presented in each issue beginning with
July, 1926. Further compilations will appear in the
future issues as the data relating thereto are completed.
Statistics in greater detail for each industry may be
obtained from the bureau's preliminary statements on
the respective industries.




PERSONS EMPLOYED

VALUE OF PRODUCTS

1923

1935
INDUSTRY

Thousands of
dollars

Bread and other bakery products. _
1,267,857
Bags, other than paper
175, 082
Brooms
_. . 21, 714
Buttons
32, 458
Butter, cheese, and condensed milk
973, 827
Clocks, watches, and parts... 81,790
Cloth hats and caps__
43,823
Dyeing and finishing textiles *
432, 537
Flour-mill and feed-mill
products
1,298,015
Heating and cooking apparatus
493, 233
Knitted outer wear
808, 491
Leather industries
... . 1, 767, 540
Lumber and timber products. 1, 421, 162
Manufactured ice ... .
186, 969
Marble, slate, and stone work. 193,047
Metal-working machinery. . . 175, 592
Needles, pins, hooks and
eyes, and snap fasteners... 18, 174
Paints and varnishes
470, 736
Paper boxes
281, 944
Paper, printing, and related
industries
4, 143, 585
8
90,629
Paving materials
Pig iron and ferro-alloys
765, 286
Planing mills _ J. . . __ . 710, 861
Power laundries
362, 295
Printing and publishing
2, 269, 638
Pumps and pumping equipment
120, 148
Saddlery and harness
_. 30,043
Shirts
225, 963
Structural and ornamental
ironwork
420, 998
Textile machinery and parts- 121, 653
Wooden boxes, cases, and
crates
152, 295
Work clothing
140, 964
1
2
3

Per cent minimum month
Per
Per cent in- is of maximum month
crease
cent increase 1 over
19231

1925

1923

1, 122, 906
151, 676
26, 262

32,750

12.9
15.4
-17.3
-0.9

-1.4
-1.2
-0.5
-2.9

94.4
87.2
89.5
88.8

92.0
92.5
79.4
85.8

955, 350
78, 290
42, 811

1.9
4.5
2.4

-14.1
0.7
-10.4

77.9
90.8
90.4

74.2
89.9
89.9

366, 623

18.0

11.6

93.4

89.5

1,048,577

23.8

-9.1

89.0

87.5

490,216

1,880,086

0.6
-4.7
-6.0
-4.9
13.5
0.8

-4.4
-4. (

86.9
91.3

90.9
94.4

-4.4
-7.2
-8.7

94.2
51.1
88.7
76.5

92.8
51.8
81.1

22, 147
404, 134

-17.9
16.5
6.7

-14.4
11.7
0.5

93.2
94.3
87.7

89.0
90.6
89.6

3, 772, 288
71, 456

-7.7
-20.5
8.1
29.7
2.0

60.4
82.8
92.6

61.6
79.9
91.4

2,021,356

9.8
26.8
-24.0
2.6
54.9
12.3

95.1

95.7

92, 930
42, 113
241, 331

29.3
-28.7
-6.4

23.2
-31.0
-3.5

87.6
80.3
88.5

89.3
84.7
95.6

406, 117
140, 661

3.7
-13.5

-6.3
-21.9

86.6
96.4

86.9
91.9

162, 858

-6.5

-11.0

95.8
88.6

92.9

848, 177

1, 494, 462
164, 662
191, 537

264,209
1,007,613
692, 784
233, 816

A minus sign (—) denotes decrease.
Receipts for work done.
Does not include vitrified paving brick.

20

INDEXES OF BUSINESS
The index numbers presented in this table are designed to show the trend in production, prices, trade
etc., in various groups of industry and commerce. They consist in general of weighted combinations of series
of individual relative numbers; often the individual relative numbers making up the series are also given.
The function of index and relative numbers is explained on the inside front cover. A condensed form of this
table is given on page 9.
1926

1925

i

PER CENT INCREASE (+) OR
DECREASE (— )

m,

Maximum
since
Jan. 1,
1920

Minimum
since
Jan, 1,
1920

180

73

146

141

111

165

140

122

-12.9

+ 9.9

165
229
154
122
273
152
191
146
131
145

62
105
41
0
0
17
78
38
57
80

129
196
131
2
108
133
174
134
104
104

123
195
136
3
0
138
184
138
96
104

122
189
138
2
0
141
180
149
87
109

158
220
154
101
100
148
183
138
106
101

150
229
149
103
1
143
191
146
90
119

147
227
147
89
0
152
187
136
82
124

-2.0
-0. 9
-1.3
-13. 6

+ 20.5
+ 20. 1
+ 6.5

+ 6.3
-2. 1
-7. 1
-8.9
+ 4.2

+ 7.8
+ 3.9
-8. 7
-5.7
+ 13.8

138
. ___ 253
143
177
153
245
390
185
190

80
19
58
64
54
30
21
45
94

119
41
111
103
76
36
314
87
133

123
31
100
117
71
53
345
54
136

107
27
90
115
68
76
135
79
135

125
47
120
95
85
49
353
115
136

126
56
90
105
75
63
388
77
141

111
34
89
114
77
82
140
105
142

-11.9
-39.3
-1. 1
+ 8. 6
+ 2.7
+ 30.2
-63. 9
+ 36. 4
+ 0.7

+3.7
+ 25.9
-1. 1
-0.9
+ 13.2
+ 7.9
+ 3. 0
+ 32.9
+ 5.2

246
242
254
405
346
170

49
43
58
50
12
19

174
110
121
175
277
138

164
137
86
83
239
135

109
105
111
77
114
130

199
108
137
202
343
142

149
90
104
104
251
117

122
104
127
96
152
113

-18.1
+ 15.6
+ 22. 1
-7.7
-39. 4
-3.4

+ 11.9
-1.0
+ 14. 4
+ 24.7
+ 33. 3
-13. 1

136
137
164
267
149

61
59
51
20
24

120
120
124
131
104

118
116
120
151
109

108
109
120
56
112

113
110
108
184
107

106
102
97
209
102

97
100
79
61
116

-8.5
-2.0
-18.6
-70.8
+ 13. 7

-10.2
-8. 0
-34. 2
+ 8. 9
+ 3.6

135
137
129
130
151
166
115
127
210
174
195
137
157

71
68
77
54
32
57
63
69
92
69
71
70
37

128
123
98
105
131
144
77
114
181
133
159

122
122
107
110
134
142
76
119
186
112
167
104
119

123
123
108
108
140
137
75
122
180
95
167
110
121

121
121
101
113
127
137
84
123
205
144
154
128
105

113
113
102
116
119
127
82
118
210
115
142
104
86

116
116
105
115
127
123
80
119
198
89
168
115
105

+ 2.7
+ 2.7
+ 2. 9
-0. 9
+ 6.7
-3.2
-2. 4
+ 0.8
-5. 7
-22.6
+ 18. 3
+ 10.6
+ 22. 1

-5.7
-5.7
-2.8
+ 6. 5
-9. 3
-10.2
+ 6.7
-2. 5
+ 10.0
-6.3
+ 0.6
+ 4.5
-13. 2

January,
1927, from
December,
1926

Novem- Decem- January Novem- Decem- January
ber
ber
ber
ber

January, 1927,
from January,
1926

PRODUCTION
(Relative to 19 monthly average as 100)
RAW MATERIALS

Grand total

__
MINERALS

Total
Petroleum
Bituminous coal
Anthracite coal _
_
Iron ore *
_ _ _
Copper
Lead
Zinc__ _
Gold__
_ . _ __
Silver
__ __
ANIMAL PRODUCTS (marketings)

Total. _ _ .
Wool*
Cattle and calves
Hogs
Sheep _
Eggs*. _ _ _ _ _ _
Poultry. _ _ _ _ _ _ _ _
Fish
Milk (New York)
CROPS (marketings)

Total
Grains * _
Vegetables *
Fruits *
Cotton products *__
Miscellaneous crops *

0

FOREST PRODUCTS

Total
Lumber
Pulp wood
Gum (rosin and turpentine)*
Distilled wood
_ _
MANUFACTURING

Grand total (adjusted for working days).
Grand total (unadjusted) _ _
_ _
Foodstuffs
..
Textiles.. _ _
__ _ _
Iron and steel
Lumber
Leather
Paper and printingChemicals, oils, etc_
Stone and clay products.
Metals, excepting iron and steel__
Tobacco
Miscellaneous

!
!
i
!
i

i lie

129

i
' Fluctuations between maximum and minimum due largely to seasonal conditions.




21
INDEXES OF BUSINESS—Continued
1925

Maximum
since
Jan. 1,
1920

Minimum
since
Jan. 1,
1920

198
346
189
121
201

91
73
89
58
86

189
273
217
115
197

1927

1996

PER CENT INCREASE (+)
OR DECREASE (— )

Novem- December
ber

January

January,
1927, from
December,
1926

198
346
160
76
180

186
303
160
70
182

183
256
177
69
201

-2.3
-15. 5
+ 10.6
-1.4
+ 10.4

+ 9.0
+ 12.3
+ 4.7
-6.8
+ 12.3

165
218
181
72
175

189
270
217
76
183

189
273
204
68
192

188
272
190
70
197

-0.5
-0.4
-6. 9
+2.9
+ 2.6

+ 13.9
+ 24.8
+ 5.0
-2.8
+ 12.6

64
51
119

61
48
114

45
38
74

47
39
78

47
38
84

0.0
-2.6
+ 7.7

-33.0
-21.8
-26.3

86
103
59
91
110
92
72

80
101
54
83
111
75
72

78
86
43
77
111
79
79

86
104
67
87
117
91
76

78
99
60
80
110

11

74
81
45
73
113
71
73

-5.1
-18.2
-25.0
-8.7
+ 2.7
0.0
+ 2.8

-5.1
-5.8
+ 4.7
-5.2
+ 1.8
-10. 1
-7.6

49

144

168

116

153

166

107

-35.5

-7.8

466
223
373
261
222
303
215

84
55
119
109
106
109
72

220
139
272
167
136
195
136

427
214
332
225
212
280
188

166
101
286
178
127
167
108

247
146
347
198
150
232
150

466
223
373
261
222
303
215

172
94
343
209
134
178
106

-63. 1
-57.8
-8.0
-19.9
-39.6
-41. 3
-50. 7

+ 3.6
-6.9
+ 19. 9
+ 17. 4
+ 5.5
+ 6. 6
-8.9

234
156

80
100

145
154

226
129

114
125

157
156

234
128

114
123

-51. 3
-3.9

0. 0
-1. 6

Novem- December
ber

January

133
128
142
74
170

153
206
155
75
161

167
228
169
74
179

84
70
68
56
88

144
134
193
73
172

162
196
199
71
172

116
112
153

40
32
25

58
47
101

126
129
136
135
133
150
1
89

60
59
43
62
88
58
1
46

170

January, 1927,
from January,
1926

STOCKS
(Relative to 1919 monthly average as 100)
(Corrected for seasonal variation)

Total _
Raw foodstuffs. _
Raw materials for manufacture _ _
Manufactured foodstuffs
Other manufactured commodities.
(Unadjusted index)
Total
Raw foodstuffs
Raw materials for manufacture __
Manufactured foodstuffs
Other manufactured commodities.
UNFILLED ORDERS
(Relative to 1920 monthly average as 100)
(Iron, Steel, and Building Materials)

Total (8 commodities) _ _
Iron and steel
Building materials
WHOLESALE TRADE

_ _

(Relative to 1919 monthly average as 100)
(Distributed by Federal Reserve Districts)

Grand total, all classes Hardware (10 districts)
Shoes (8 districts) _ _
Groceries (11 districts) __
Drugs (7 districts)
_
Dry goods (8 districts)—Meats
RETAIL TRADE

_ _

(Relative to 1919 monthly average as 100)
MAIL-ORDER HOUSES (4 houses).- ._

CHAIN STORES:
Ten-cent (5 chains) __
Music (4 chains)
Grocery (27 chains)
Drugs (9 chains)
Cigar (3 chains)— _
Candy (5 chains). _
Shoe (6 chains) _ _ _
DEPARTMENT STORES:
Sales (359 stores)
Stocks (314 stores).
EMPLOYMENT

!i

(Relative to 1923 monthly average as 100)

Number employed, by industries:
Total, all classes
Food products
Textiles
Iron and steel
Lumber
LeatherPaper and printing.
ChemicalsStone, clay, and glass
Metal products other than iron
and steel
Tobacco products
Vehicles __
Miscellaneous. _



2
2
2
2
2
2
2
2
2

103
107
103
104
103
105
101
105
105

2
2
2
2
2
2
2
2
2

2
2
2
2

107
108
103
107

2
2
2
2

85
86
81
79
84
83
93
84
89

93
94
90
89
93
92
103
98
100

93
93
90
90
92
89
104
98
98

92
90
90
91
89
91
103
98
94

91
92
86
91
90
92
107
99
101

91
90
88
90
88
91
106
97
96

89
89
88
88
84
92
104
98
89

66
78
75
80

100
95
94
91

102
95
93
94

100
85
93
97

95
87
85
99

94
87
83
101

92
78
81
101

!

i Since Jan. 1,1921.

* Since July 1, 1922.

-3.3
— 1.1
0.0
-2.2
-4.5
+ 1. 1
— 1. 9
+ 1.0
-7.3
-2. 1
-10.3
-2. 4
0.0

-3.3
-1. 1
-2. 2
-3.3
-5.6
+ 1.1
+ 1.0
0.0
-5.3
-8.0
-8.2
-12.9
+ 4.1

22
INDEXES OF BUSINESS—Continued
1935

Maximum
since
Jan. 1,
1920

Minimum
since
Jan. 1,
1920

1926

1927

1

PER CENT INCREASE (+)
OR DECREASE (-)

i

Novem- Decem- Januber
ber | ary

j

Novem- December
ber

January

January,
1927,
1927, from January,
January,
December, from 1926
1926

EMPLOYMENT— Continued

j

(Relative to 1923 monthly average as 100)

Amount of pay roll, by industries:
Total, all classes _ _
Food products
Textiles
Iron and steel
Lumber
Leather
_
Paper and printing
Chemicals
Stone, clay, and glass
Metal products other than iron
and steel
Tobacco products _ _ _
Vehicles
Miscellaneous

2
2
2
2
2
2
2
2
2

105
107
106
108
106
108
116
106
112

2
2
2
2
2
2
2
2
2

74
85 |
72
62
84 i
70
88
85
84

96
97
90
93
101
85
110
101
109

97
97
90
97
100
84
113
101
106

94
94
91
95
91
87
110
100
98

95
96
85
96
100
87
115
104
109

96
95
89
96
96
86
116
104
105

91
93 !
89
91
87
87
113
102
92

-5.2
-2. 1
0.0
-5.2
9 4
+ 1.2
-2.6
-1.9
-12. 4

-3.2
11
2 2
-4.2
-4.4
0.0
+ 2.7
+ 2.0
-6. 1

2
2
2
2

110
112
107
112

2
2
2
2

70
78
60
72

102
101
101
93

106
101
97
99

101
88
86
100

96
92
88
103

96
90
82
110

92
78
74
107

-4.2
-13.3
-9.8
-2. 7

-8.9
-11.4
- 14. 0
+ 7.0

235
283
373
186
215
304
180

110
88
108
91
122
76
74

144
138
194
136
162
144
95

143
140
194
136
163
139
92

143
143
214
140
153
138
87

130
121
142
142
157
88
97

127
120
137
140
161
81
91

126
120
140
140
152
85
87

-0.8
0.0
+ 2.2
0.0
-5.6
+ 4.9
-4, 4

-11.9
-16. 1
-34.6
0.0
-0.7
-38.4
0.0

248
243
248
346
281
203
300
213
275
208

138 !
114
131
171
162
109
155
121
160
111
i
118
146
135

158
154
160
188
175
130
176
135
166
142

156
152
157
187
175
130
177
135
166
138

156
152
156
186
177
129
178
133
165
135

148
135
151
170
190
127
174
129
160
118

147
135
151
169
183
126
173
128
159
118

147
137
150
167
180
124
170
122 |
157
118

0.0
+ 1.5
0 7
— 1. 2
-1. 6
-1.6
1 7
-4.7
-1. 3
0.0

-5.8
-9.9
-3.8
-10. 2
+ 1.7
-3.9
-4. 5
-8.3
-4.8
-12.6

135
168
160

134
166
159

132
166
160

126
159
150

126
158
149

125
157
150

-0.8
-0. 6
+ 0.7

-5.3
-5.4
-6.2

134 i
115 !
j

164
156

163
152

161
149

155
139

155
139

153
136 1

-1.3
-2.2

-5.0
-8. 7

172
155
139 ! 167
178
143
176
153
167
156
190
174
122
118
175
171

171
166
177
177
166
188
122
176

170
164
177
176
166
189
122
176

168
162
174
173
170
195
121
173

168
162
173
174
169
. 194
121
174

167
159
173
173
168
192
121
174 i

-0.6
-1.9
0.0
-0.6
-0.6
-1. 0

-1.8
-3.0
-2.3
-1.7
+ 1.2
+ 1.6
-0.8
-1. 1

PRICE INDEX NUMBERS
FARM PRICES
(Relative to 1909-1914 average as 100)
All groups

Grain
Fruits and vegetables
Meat animals
Dairy and poultry _ _ _
Cotton and cottonseedUnclassified

_.

WHOLESALE PRICES
Department of Labor Indexes

!

(Relative to 1913)
All commodities

Farm products
Food, etc
Cloths and clothing
_
Fuels
Metals and metal products
Building materials

Chemicals. _
House-furnishing goods
Miscellaneous
Classified by state
of manufacture:
Producers7 goods
Consumers' goods _
Raw materials

244
249
249

Commercial Indexes
(Relative to 1913)
Dun's (1st of following month)

Bradstreet's (1st of following month) _

218
227

COST OF LIVING
National Industrial Conference Board Indexes
(Relative to July, 1914)
All items weighted

Food (Dept. Labor)
Shelter
Clothing
Fuel and light.
Fuel
Light
Sundries _




..
_

205
219
186
288
3
179
208
123
192

« Since July 1,1922.

3

a Since Jan. 1, 1923.

ao

0.0

23

STEEL CASTINGS, NEW ORDERS AND PRODUCTION
RAILWAY
SPECIALTIES

TOTAL
MONTH

Per
cent
Net tons of
capacity

MISCELLANEOUS CASTINGS

RAILWAY
SPECIALTIES

TOTAL

Per
Per
Per
Per
Per
cent
cent
cent
cent
Net tons ofcent
ca- Net tons of ca- Net tons of ca- Net tons of ca- Net tons of capacity
pacity
pacity
pacity
pacity
NEW ORDERS, 1920

January
February
March
April

..

' _ _ _ --

_

May
June
July
August
September
October
November
December

._.
_

-

_

_

._
-

Total

NEW ORDERS, 1921

79, 810
84,731
125,321
98, 702

68
72
107
84

29, 522
30, 065
65, 442
43,933

63
65
141
94

50, 288
54, 666
59, 879
54, 769

71
77
85
77

33, 873
33, 481
29, 002
24,223

29
28
25
21

11,327
14, 574
10, 487
7,775

24
31
23
17

22,546
18, 907
18, 515
16,448

32
27
26
24

97, 135
85, 242
78, 301
76, 325

83
73
67
65

43,282
30, 148
31, 973
33, 745

93
65
69
73

53, 8.53
55, 094
46, 328
42, 580

76
78
66
60

23,004
23,363
19, 770
22, 890

20
20
17
19

7,500
8,712
6,162
8,390

16
19
13
18

15,504
14, 651
13, 608
, 14, 500

22
21
19
20

77, 994
56,398
49, 260
41, 934

67
48
42
36

36, 870
20, 056
18, 109
13, 810

79
43
39
30

41, 124
36, 342
31, 151
28, 124

58
51
44
40

27, 639
37, 786
46, 913
36, 743

23
32
40 "
31

11, 447
19, 425
23, 478
17, 245

25
42
50
37

16, 192
18,361
23,435
19, 498

23
26
33
27

9.51,153

68

396, 955

71

554, 198

65

358, 687

146, 522

26

212,165

25

25

NEW ORDERS, 1922
January
February
Mi arch
April

May
June
July
August

-

--

- -

__
- -

- - - -

September
October
November
December

_ _ _
-

Total

NEW ORDERS, 1923

41, 285
44, 668
57, 237
84, 922

36
39
49
73

22, 913
21, 582
27, 677
51, 065

47
44
56
104

18, 372
23,086
29,560
33, 857

28 |
35
44
51

118, 348
105, 045
164, 486
111, 135

97
86
135
91

57, 016
46, 271
87, 675
49, 955

109
89
168
96

61,332
58, 774
76, 811
61, 180

88
85
111
88

88, 557
101, 020
78, 177
76,312

76
87
68
66

48, 225
57, 180
38, 550
28, 339

98
116
79
58

40, 332
43, 840
39, 627
47, 973

60
66
59
72

110, 125
102, 933
66, 608
68, 228

91
85
55
56

48, 871
50, 507
22, 505
27, 641

94
97
43
53

61, 254
52, 426
44,103
40, 587

88
76
64
5&

110,685
91,303 i
75,202 !
83,417 !

96
79
65
72

63, 196
43, 277
29,470
35,209

129
88
60

47, 489
48, 026
45, 732
48, 208

71
72 i
69
72

64, 123
55, 672
55, 958
54, 521

53
46
46
45

30, 566
19,645
21, 193
21, 972

59
38
41
42

33, 557
36, 027
34, 765
32, 549

48
52
50
47

932, 785

67

466, 683

79

466, 102

58 i

1, 077, 182

74

483, 817

77

593,365

71

NEW ORDERS, 1924
January
February
March
April

- -

May
June
July
August
September
October
November
December

--

-

- -

.

-

- ---

Total

MISCELLANEOUS CASTINGS

NEW ORDERS, 1925

65, 583
88,397
120, 868
86, 166

51
69
95
68

26, 782
42, 973
71,387
43, 921

48
76
127
78

38, 801
45, 424
49, 481
42, 245

54
64
69
59

100, 014
77, 861
78,035
78, 252

77
60
60
60

49, 976
35, 578
30, 870
32, 066

86
61
53
55

50,038
42, 283
47, 165
46, 186

69
5&
65
64

74, 275
63,462
50, 613
47, 524

58
50
40
37

38, 221
33, 701
22, 630
19, 980

68
60
40
36

36, 054
29,761
27,983
27, 544

51
42
39
39

65,009
63,839
69, 058
67, 933

50
49
53
52

22, 989
23,389
26, 462
25, 690

40
40
46
44

42, 020
40, 450
42, 596
42,243

58
56
5ff
5&

74, 393
80,646
88, 697
112, 887

58
63
70
89

35, 293
38, 002
49, 339
62, 504

63
68
88
111

39, 100
42, 644
39,358
50, 383

55
60
55
71

60, 547
76, 570
84,938
101, 390

46
59
65
78

20, 992
27, 484
39, 077
50, 654

36
47
67
87

39, 555
49,086
45, 861
50, 736

55
68
63
70

953, 511

62

484, 733

72

468, 778

56

923, 446

59

385, 227

55

538, 219

62

NEW ORDERS, 1926

PRODUCTION, 1926

January _..
FebruaryMarch
April

;
i
1
!

108, 162
94,917
108, 018
88, 453

82
72
81
67

51, 574
41, 816
46, 655
26, 715

86
70
78
44

56, 588
53, 101
61, 363
61, 738

78
73 '
85
85

93,041
91, 884
110, 542
107, 666

70
69
83
81

37, 321
41,208
47,604
41, 961

62
69
79
70

65,720
50, 676
62,938
65, 705

77
70
87
91

May
June
July_—
August.

!1
i
1

80,337
69, 308
75, 872
67, 615

61
52
57
51

31,388
16, 018
29,266
22, 998

52
27
49
38

48, 949
53, 290
46, 606
44, 617

68
74
64
62

97, 405
94, 796
86, 653
80,928

73
71
65
61

42, 425
34, 421
30, 694
26, 088

71
57
52
43

54,980
60, 375
55,959
54, 840

76
83
77
76

September..
October
November...
December.-

1
!
j

66, 889
74, 187
70, 803
85, 685

50
56
53
65

22,031
27, 827
28, 079
38, 111

37
46
47
63

44, 858
46,360
42, 724
47, 574

62
64
59
66

79,021
79,331
86, 273
81, 556

60
60
65
62

22,837
25, 737
24, 421
28,699

38
43
41
48

56, 184
53,594
61, 852
52, 857

77
74
85
73

Total..

j

990, 246

62

382, 478

53

607, 768

70

1, 089, 096

68

403, 416

56

685,680

79

I

* Compiled by the U. 8. Department of Commerce, Bureau of the Census, as reported by the Steel Founders Society and principal nonmember firms. Reports are by
119 firms having a present capacity of 132,500 tons per month of which 60,100 are usually devoted to railroad specialities. This represents over 80 per cent of the steel castings capacity of the United States devoted to commercial castings (as distinguished from castings used in further manufacture in the same plant). Prior to 1920 figures
for companies representing about 6 per cent of the miscellaneous castings are not available and the totals of this class have been prorated by that amount for these years
in order to afford comparison with later years. Railway specialities include such items as bolsters, arms, draft arms, couplers, and cast-steel car wheels, and are reported
by identical firms throughout. For capacities of the commercial steel castings industry since 1913 see table on p. 24.




24
COMMERCIAL STEEL CASTINGS '
[Monthly average, short tons]
CAPACITY

PER CENT ORDERS TO
CAPACITY

NEW ORDERS

|

YEAR

Total
1913

1914.
1915
1916.
1917

.

1918
1919.
1920
1921.
1922-

.

!
85,100
86, 000
89,800 i
94, 900 1
100, 700 !
,
105, 100 i
109, 000 !
117, 200
117,800 i
115, 800
i
121,500 1
127,400 1
130, 600
132, 600

..

. . .

.

..

1923
1924.
1925
1926

Mis

Railroad

^fne'

Miscellaneous

Railroad

Total

}

36,600
36,800
40,300
40,500
41,200
41,100
41,200
46, 500
46,500
49,100
52,100
56,200
58,100
60,100

1
!
!
j
)
i
!
i
|
i
1
!
I
!

Railroad

Total

Miscellaneous

48,500
49,200
49,500
54,400
59,500

57, 341
43, 768
64, 447
101, 379
88,842

27, 600
21, 142
29, 966
54, 645
34,529

29,741
22, 626
34, 431
46, 734
54, 313

67
51
72
107
88

75
57
74
135
84

61
46
70
86
91

64,000
67,800
70, 700
71,300
66,700

110,182
44, 477
79, 263
29, 891
77,732

48, 124
13, 692
33, 080
12, 210
38,890

62, 058
30, 785
46, 183
17, 681
38, 242

105
41
68
25
67

117
33
71
26
79

97
45
65
25
58

69,400
71,200
72,500
72,500

89, 765
79, 404
76, 954
82, 520

40,318
40, 394
32, 102
31, 873

49, 447
39, 010
44, 852
50,647

74
62
59
62

77
72
55
53

71
55
62
70

i Compiled from reports of 122 firms, comprising over four-fifths of the commercial castings capacity of the United States.

STEEL BOILERS, SHIPMENTS '

TYPE

Number

Grand total...

Square
feet

mi

1930

1919

I

I

1932

1933

1934

1935

Num- Square Num- Square Num- Square Num- Square Num- Square Num-; Square
ber
ber
feet
feet
ber ! feet
ber
feet
ber
feet
feet
ber
1
6,543 8, 522, 821 11, 244 12, 623, 264 13, 169 16, 507, 132 12, 215 14, 554, 989 13,417 j 14, 692, 232

10, 002 16, 158, 208 10, 308 17, 921, 492

STATIONARY

Total
Water tube
Horizontal return tubular
Vertical fire tube
Locomotive (not
railway)
Steel heating 2
Oil country
Self-contained portable 3

8,887 12, 352, 142

9, 847 16,406,077

6,312

7, 565, 382 11, 131 12, 386, 146 13, 099 16, 386, 146 (12,087 14, 273, 369 13,272 ; 14, 458, 753

1,907
1,692
1,629
451
1,908
1,024
276

7 867,701
2, 060, 992
488, 868
207, 562
1, 140, 597
507, 380
79, 042

2,564 11, 100, 285
1,866 2, 425, 091
1 737
569, 588
529
246, 140
1,935 1, 458, 462
442, 333
703
164, 278
513

888
1,221
1,031
232
2,172
621
147

3, 684, 324
1, 515, 271
284, 957
120, 506
1, 553, 360
363, 573
43, 391

1,255
1,676
2 120
'374
4,621
923
162

6, 171, 654
1, 978, 501
644, 594
215, 361
2, 776, 940
548, 895
50, 121

1,115

3, 806, 066

461

1,515,415

231

957, 439

113

237, 118

70

821
33
244
17

3 125; 687
36 914
636, 695
6,770

169
11
261
16
4

810, 144
11 612
681, 976
10, 760
923

99
9
102
17
4

667, 410
10 683
269, 418
8,670
1 258

50

164, 049
8 286
55, 061
6,660
3 142

16
12
22
14
6

,

MARINE

Total
Water tube
Pipe . .
Scotch
2 and 3 flue
M iscellaneous

.

.

34
16
6

|

1,678
1,698
2 283
530
5,782
879
249

9, 552, 769 1,365
2, 027, 174 [ 1,379
738, 370 i 1,570
269, 371
417
3, 139, 915 6,533
575, 627 ! 535
82, 920
288

120, 986 !i
46, 581 !
16 338 '
45, 238
5,770
7 059 i
1

8, 093, 504
1, 691, 430
450, 069
209, 824
3, 388, 086
319, 412
121, 044

1,380
1,243
1,553
342
8,017
477
260

i 7,417,304
1,625,759
! 461,726
; 154,397
4,295,957
;
386,840
116,770

:

128

281, 620

145 i

233,479

67
8
35
16
2

229, 754
7,180
37, 081
6,800
805

52
11
63
15
4

134,823
11,909
75,031
8, 170
3.546

1
Compiled by the U. S. Department of Commerce, Bureau of the Census, from reports of 58 firms, estimated to represent about 90 per cent of the industry (although in
some2 classes the representation is much less), as a survey preliminary to monthly reports on this subject.
As
differentiated from power boilers.
3
Not including types listed above.

AGRICULTURAL MACHINERY '
[Relative numbers, 1923-25 monthly average=100]
\

SHIPMENTS

PRODUCTION

1933

1934

1935 | 1936

1933

Foreign

Domestic

Total

MONTH

1934

1935

1936

1923

1934

1935

1936

1933

1934

1935

1936

January
February
March
April

104.8
108.9
113. 1
112.9

93.8
96.6
95.8
94.0

97.9
103.3
107, 0
107.6

141.3 : 72.4
136.1 ! 79.5
141.4 ! 107. 2
146.4 : 101. 3

69.9
93.2
109.0
105.1

86.4
103.2
135.6
138.4

119.0
152.2
176.4
146.3

81.5
86.7
117.8
107.0

75.1
97.4
107.3
100.4

85.6
108.9
142.8
137.8

119.4
147.4
176.7
147.5

24.6
42.1
52.1
71.2

42.5
70.8
118.3
129.6

90.8
73.1
98.0
141.4

116.9
177.3
175.0
140.3

May

112 1
104.9
100.8
93.5

87.9
79.9
74.9
75.5

109.2
109.8
108.1
113.7

145.4
107. 6
143.8 : 113. 0
109. 2
140.1
113. 5
131.6

88.2
90.6
98.7
104.4

121.9
126.3
138.0
142.9

154.1
180.7
156.4
154.3

108. 9
118.6
112.7
102.9

91.0
95.2
105.0
105.3

126.6
133.9
141.9
135.7

155.9
191.4
162. 5
141.8

100.9
83.9
90.4
169.3

73.9
66.4
65.7
99.5

96.9
86.3
117.6
180.4

144.4
124.4
124. 5
219.7

90.3
88.3
90.3
90.2

78.4
78.1
87.0
91.9

120.5
119.4
125.9
133.7

135.7 '•
131. 0
130.8 i
132.0 ',

95.8
81.7
60.5
63. 4

101.1
79.6
64.3
73.0

132.0
104.9
84.5
103.8

123.5
84.7
77.0
83.0

76.4
76.5
59.2
61.3

96.5
77.4
63.4
71.7

114.4
100.9
81.0
95.4

112.4
81.8
68.4
78.3

197.5
109.4
67.1
74.3

125.3
91.2
69.2
79.7

223.8
125.7
103.0
147.9

182.1
99.8
121.9
104.0

100.8

86.2

113.0

138.0 ;

92.1

89.8

118.2

134.0

92.5

90.5

117.1

132.0

90.2

86.0

123.7

144.2

June
July
August

..- .

September
October
November
December
Monthly average
1

Compiled by the Federal JZeserve Bank oj Chicago, from reports of 90 manufacturers, estimated to cover 80 per cent of the industry. The production figures are based
on the employment data of 88 firms and the shipment figures on the value of goods shipped by 90 firms (60 reporting foreign shipments).




AVERAGE WEEKLY EARNINGS OF FACTORY LABOR
ILLINOIS 2

WISCONSIN i
MONTH

January
February.
March
April .
May
. _ - _ _.
June
July
August. _
.
September .
October _ _
November
December
Monthly average

1920

1931

1933

1933

1934

1935

1936

$27.73
29.84
29.33
29.52
28.22
26.87
3 28. 58

$24. 98
24.16
24.34
24. 27
23.57
22.47
21.02
22.75
21.69
21.72
21.22
21.42
22.80

$19. 58
21.02
20.75
21.01
21.72
21.94
20.64
21.75
22.15
22.74
23.32
23.28
21.66

$22. 40
23.05
23.18
23.72
24. 88
24.73
22.90
24.25
24.26
25.05
24.96
24.30
23.97

$23. 39
25.23
25.25
24.75
25.13
23.93
22.45
23.85
23.93
24.98
24.78
25.10
24.40

$24. 56
25.67
25.43
25.55
26.16
25.50
24.44
26.03
25.35
26.44
25.76
25.81
25.56

$25. 10
26.41
26.56
26.47
26.45
26.13
24.27
25.27
25.32
26.62
24.84
24.61
25.67

1933

1933

1934

1935

1936

$23. 72
23.95
25.39
24.81
24.93
25.42
3 24. 70

$25. 25
25.67
25.83
26.79
28.00
28.33
26.87
26.74
27.73
28.20
27.12
28.25
27.07

$27. 27
28.36
27.61
27.82
27.66
27.40
26.68
26.96
27.19
27.66
27.61
28.35
27.55

$27. 64
28.13
27.69
27.96
28.06
28.12
27.40
27.91
26.57
28.49
28.46
28.75
27.93

$28. 24
19.25
28.68
28.87
28.92
29.02
27.96
28.62
27.95
29.03
28.58
28,87
28.67

1
2

Compiled by Wisconsin Labor Market.
Compiled by the Illinois Department of Labor from reports of about 1,400 manufacturing establishments, employing about 400,000 people, taken from the pay roll
. nearest
the 15th of the month.
3
Six months' average, July to December, inclusive.

FACTORY LABOR TURNOVER '
[Per cent of number on pay roll on equivalent annual basis]
ACCESSIONS

VOLUNTARY QUITS

DEPARTURES, 1936

MONTH

1919
January
February.
March
April
May. June
July
August
September
October
November
December

.-_

-_ _ _

Average

1930

1931

1933

1933

1935

1934

1936

Total

VolunDistary Lay-offs charges
quits

47.2
41.6
50.7
54.9
57.8
95.2
68.4
88.5
96.4
85.0
84.2
66.1

96.8
103.3
140.4
142.7
105.0
118.2
122.7
126.3
114.7
72.0
39.0
29.5

21.2
20.8
29.5
32.9
29.5
34.2
29.5
28.3
32.9
24.8
20.7
16.5

18.9
23.4
26 0
36.6
55.5
64.7
61.4
70.8
83.0
69.6
61.0
41.3

48.4
71.5
85.0
115.9
100.3
102.5
92.0
77.9
86.6
54.3
37.8
26.0

30.7
27.7
44.8
57.3
42.5
30.5
26.0
26.0
30.5
27.1
19.5
21.2

26.0
26.0
35.4
48.8
40.1
41.5
37.8
40.1
50.0
42.5
30.5
24.8

56.5
56.1
56.5
52.3
60.0
57.2
54.2
65.9
69.4
57.7
40.2
27.1

38.9
40.4
50.6
60.8
50.6
46.2
53.0
51.8
58.4
43.6
40.2
30.6

27.1
27.3
35.4
46.4
37.8
35.4
38.9
40.1
47.6
31.9
25.6
20.0

4.7
6.5
7.1
6.1
5.9
6.1
7.1
4.7
4.9
4.7
8.5
7.1

7.1
6.5
8.2
8.5
7.1
4.9
7.1
7.1
6.1
7.1
6.1
3.5

69.7

100.9

26.7

51.0

74.8

32.0

37.0

54.4

47.1

34.5

6.1

6.7

i Compiled by the Metropolitan Life Insurance Company covering 135 companies employing about 600,000 wage earners for the period 1919-1925. Beginning with
1926, data are from about 100 companies each month. Rates are based on median reports rather than arithmetic mean, to throw out exceptional cases. The annual turnover
rates were derived from the monthly rates by multiplying each month rate by 365 (366 for leap years) and dividing by the number of calendar days in the month represented. The total separation rate is the arithmetic sum of the last 3 columns. Figures for January, 1927, follow: Accessions, 35; total departures, 41.4; voluntary quits,
23.4; lay-offs, 5.7; discharges, 12.3.

RAYON!
[Thousands of pounds]

1911

1913

1913

1914

1915

164
136
153
145
124
104
2826
2
138

125
101
113
107
103
82
118
74
166
206
179
187
1,561
130

191
173
191
148
139
171
181
209
224
189
248
241
2, 305
192

215
216
303
311
243
179
223
167
341
235
248
242
2,923
244

160
253
268
183
267
194
155
167
186
370
251
265
2,719
227

81
79
107
118
119
100
97
76
70
76
78
124
94

158
139
138
147
148
177
181
236
278
209
206
250
189

222
232
235
271
264
250
256
152
218
304
378
487
272

1916

1917

MONTH

| 1918

1919

1930

1931 | 1933

290
269
250
234
172
125
156
69
46
106
79
51
1,847
154

140
77
353
648
502
385
473
318
262
267
154
88
3,667
306

1933

1934

191
141
399
466
251
373
502
243
295
520
309
216
3,906
326

252
133
87
89
97
145
78
119
182
170
170
190
1,712
143

[ 1935

1936

IMPORTS

January
February
March
April
May
June..
July
August
_ _ .
September
._.
October
November.
.
December
Total
Monthly vareage -

159
139
133
79
64
73
58
46
49
10
6
48
864
72

45
16
41
30
96
61
78
53
6
57
40
29
552
46

7
5
13
1
(6)

5
22
13
3
4
7
13
93
8

9
11
23
5
121
67
56
55
134
156
225
287
1,149
96

249
330
243
213
227
90
75
86
95
188
62
230
2,088
174

206
619
522
432
333
309
547
590
622
825
1,119
877
7,001
583

597
643
1,257
721
883
763
739
662
879
1,008
988
1,023
10, 163
847

878 None.
706
49
210
515
385
366
317
478
179
510
96
691
67
815
792
70
7
920
10 1,362
10 1, 533
645
268

1,491
1,483
2,034
1,846
1,793
1,934
2,046
2,053
2,031
1,879
1,870
2, 016
1,873

STOCKS, IN BONDED WAREHOUSES, END OF MONTH
January.,
February
March
April

. .-.

.

May.
June
July
August
September
October
November.
December...
Monthly average

96
.
_.

88
68
52
48
52
2
87

392
367
316
249
229
159
138
115
100
152
151
212
215

92
116
114
115
110
109
99
112
110
106
101
107
107

94
88
79
66
57
52
61
74
68
99
95
109
79

102
85
83
69
67
9
18
7
7
7
7
. 7
39

6
5
5
5
53
42
1
1
3
3
7
50
15

108
109
151
191
252
301
ooo

333
321
349
368
341
263

322
247
211
183
232
338
436
476
514
612
602
452
3S5

423
349
294
301
423
442
441
420
3
84
185
165
317
320

(4)

(4)

536
(4)
(4)

776
873
867
764
906
958
865
5818

* Compiled by the U. S. Department of Commerce, Bureau of Foreign and Domestic Commerce representing imported rayon yarns, threads, and filaments. Stocks are
those3 in bonded customs warehouses.
Six months, July through December.
*4 Stocks on Sept. 21, due to the new tariff law which became effective Sept. 22,1922.
Figures not compiled.
5
Average for 8 months.
6
Less than 500 pounds.

 34959—27


4

-

26

PAPER BOXES
PAY ROLL

SHIPMENTS
MONTH

January...
February
March
April

1924

1925

1926

1923

1924

1935

1928

$621, 779
647, 666
741, 617
711, 622

$754, 789

$688, 419

$708, 214

$168, 605
170, 851
206, 588
189, 196

$234, 707

741, 139
846, 453
768, 450

230, 393
238, 372
229, 258

$198, 367
191, 811
205, 966
190, 555

$197, 526
198, 516
222. 840
212, 213

655, 363
622, 721
612, 562
726, 623

678, 048
657, 782
614, 350
741, 319

638, 752
653, 512
673, 702
787, 479

747, 402
791, 910
739, 303
870, 825

193, 032
188, 258
164, 554
194, 357

227, 178
206, 834
187, 257
221, 467

190, 863
185, 485
202, 304
207, 990

202, 632
215, 636
206, 741
223, 889

774, 650
995, 488
883, 361
678, 121

870, 080
1, 099, 989
965, 488
922, 937

959, 182
1, 098, 310
1, 094, 686
1, 053, 339

1, 008, 468
1, 121, 408
1, 191, 817
1, 062. 693

193, 201
227, 856
218, 905
175, 933

227, 730
262, 213
241, 015
239, 681

217, 953
251, 185
231, 161
235, 289

249, 473
261, 034
264, 939
247, 046

8, 671, 573
722, 631

9, 572, 482
797, 707

9, 819, 768
818, 314

10, 598, 082
883, 174

2, 291. 336
190; 945

2, 746, 105
228, 842

2, 508, 929
209, 077

2, 702, 485
225, 207

_

May
June
July
August _.

.

September
October
November
December.

...

_

Total
Monthly average
1

1923

715, 832
782, 128
769, 740

690, 176
767, 143
715, 068

Compiled by the National Paper Box Manufacturers' Association, from reports of 54 manufacturers in 1923, 63 in 1924, and 60 in 1925 and 1926.

PORCELAIN ENAMELED FLAT WAKE 1
NEW ORDERS

ELECTRIC OVERHEAD (

MONTH

Square feet

1935
ember.
ber
amber
mber
Total
Monthly average

ary
uary
ch.
1
April.
May_
June..
July.

1936

JSt

ember
ber
ember
smber
Total
Monthly average

Per cent
to
capacity

Square feet

Per cent
to
capacity
paci y

7, 097, 065
6,489,990
7, 967, 044
5, 600, 899

59.6
54.5
66.9
47.0

6,400,417
6, 875, 249
5, 898, 617
5, 853, 792

27, 154, 998
2 6, 288, 750

252.8

25, 088, 075
26,272,019

5,455,481
6, 283, 041
5,359,446
5, 591, 187
5,946,867
4, 653, 540
6, 667, 596
5, 572, 643
6, 235, 807
7,790,234
4, 994, 629
6, 050, 924

44.5
51.3
43.7
45.6
48.5
38.0
53.1
44.4
49.7
61.2
39.3
47.6

5, 871, 960
5, 759, 914
7,366,188
6, 291, 537
5, 853, 298
6, 375, 622
5,722,687
6, 052, 489
6, 282, 496
7, 014, 537
6, 921, 704
6, 436, 076

47.9
47.0
60". 1
51.3
47.8
52.0
45.6
48.2
50.0
55.1
55
1
54.4
50.66
50

70, 601, 395
5, 883, 450

47.2

75, 948, 508
6, 329, 042 i
i

50.7
50 7

i

53.7
57.7
49.5
49.1
22

Shipments

PERIOD

ILLED
SHIPMENTS BILLED

51.6
51. 6

1
Compiled by the Porcelain Enamel Manufacturers Association, from
m reports
of 11 manufacturers of porcelain flat ware, such as kitchen table tops, tub
tub
covers, outdoor advertising signs (of which 3 classes these figures are estimated
estimated
to represent about 85 per cent of the industry's capacity), refrigerator linings,
ings, stove
parts, etc. (of which classes these figures are estimated to represent from
m 70 to 75
per cent of the industry's capacity outside of stove and refrigerator manufacturers
lufacturers
with their own enameling plants). The unit of measurement for these operations
is the number of square feet of sheet metal passed through the furnace) once.
2 Four months' average, September to December, inclusive.

1921
1922
1923
1924
1925
1926

...
-.-

1925
January _
_
February
March
_
April
M!ay
June . - . _
_ ...
July
August .
September
__
October
November
December
_
Total
Monthly average
1936
January
February
March
April .
May
June
July
August
September
.-.
October
November
December
Total
Monthly average ._.
1937
January

_
_

_ _ _ .
..
._

--.
.

_ -

676,032
743, 643
938, 640
858,725
734,582
679,129
700,387
789,153
786,298
815,429
1,010, 600
1,009, 505
9, 742,121
811, 843

704, 515
624, 933
1,001,829

* 981, 890
1,048,056
893,195
977, 977
1,008, 414
11, 722,353
976, 863

704,057

1936

MONTH

1925

$4,406,188
3, 964,275
3, 738,173

October
November..
December..

(Relative to January, 1921)
1924

$2, 708, 233
6,897, 761
9,168,123
8, 899, 742
10, 770,158
11, 687,752

i Unfilled orders

SALES INDEX

1923

$8, 892, 778
3, 795, 799
10,567,479
9, 420,305
9, 742,121
11,722,353

776,973
1,130,121
813, 568
1,179, 778
1,020, 911
1,031,486

_

IRON, STEEL, AND HEAVY HARDWARE l

1922

New orders

1937

January.

1926

1, 213,850
742,138
995,193
850, 691
730,438
1,085,311
612, 864
1, 380,064
10, 770,158
897, 513
913,207
970, 502
1,114,182
900,932
904,499
915,375
1, 377, G92
776, 992
1,015, 698
1,428, 875
584, 817
784,982
11,687,752
973, 929
888, 299

Inquiries
received
$5, 836,839
5,181, 547
8, 422, 397

3, 971,157

1

January. .
February
March
April
.
May
June
July. ..
August--.-. .
September
October
November
December

. . . .
....

.. _

84
79
106
112
129
129
126
146
141
150
140
125

137
128
177
187
196
168
155
162
145
164
141
124

136
133
150
161
147
123
128
128
137
150
134
140

129
126
151
151
139
141
145
144
145
160
138
142

135
121
176
178
176
180
165
168
172
181
174

i Data on the value of sales by jobbers of hardware, compiled by American Iron,
Steel and Heavy Hardware Association, comprise reports from about 75 firms, estimated to represent about 10 per cent of the entire iron, steel, and hardware jobbing
trade, including iron, steel, motor accessories, and heavy hardware.




Compiled by the Electric Overhead Crane Institute, from reports of 11 manufacturers, estimated to include 98 to 99 per cent of the output of electric overhead;
cranes for factories, etc.

ORDERS FOR ELECTRICAL GOODS L
1922

QUARTER

First
Second
Third
Fourth
Total

1923

1924

1925

1926

$136,916,613 $218, 122, 025 $219, 357, 545 $224, 470, 855 $251, 563, 909
..

158, 512, 876
162, 056, 344
185, 963, 811

232, 587, 012 213, 560, 123
195, 701, 917 179, 328, 530
209, 098, 357 223, 944, 902

643, 449, 644

855, 509, 311

836,091,100

218, 599, 962
223, 043, 412

234,871,751

236, 153, 758
229, 423, 549
246, 711, 426

900, 985, 980 963, 852, 642

i Compiled by the U. S. Department of Commerce, Bureau of the Census, from re
ports of 72 of the principal manufacturers of electrical goods revising previous data-

27
OHIO RIVER CARGO TRAFFIC 1

PULP-WOOD CONSUMPTION AND WOOD-PULP PRODUCTION
FOR
142 IDENTICAL MILLS: 1926 AND 1925 1

[Short tons]
Pittsburgh Hunting- Cincinnati Louisville
district
district ton district district

PERIOD

Total

Year, 1925.
Year, 1926
1926
First half
Third quarter _ _ _ _.
Fourth quarter

15,377,015
19, 159, 788

7, 647, 325
9, 306, 900

4, 464, 061
5, 059, 106

537, 634
553, 457

3,087,995
4, 240, 325

7, 814, 649
5, 789, 704
5, 555, 435

3, 671, 883
3, 143, 455
2, 491, 562

2, 194, 207
1, 470, 506
1, 394, 393

232,911
158, 562
161, 984

1, 715, 648
1, 017, 181
1,507,496

1

Compiled by the U. S. War Department, Engineer Corps, representing tonnage
of cargo traffic on the Ohio River. Each district includes only the traffic originating in that district either on the Ohio River or on one of its tributaries, so that the
total contains no duplications.

MILL DIVIDENDS IN SPARTANBURG COUNTY, SOUTH CAROLINA
Dividends Capitalization

DATE

Jan. 1, 1921
July 1, 1921
Jan. 1, 1922_
July 1, 1922
Jan. 1, 1923
July 1, 1923
Jan. 1, 1924_
July 1, 1924
Jan. 1, 1925
July 1, 1925
Jan. 1, 1926_
July 1, 1926
Jan. 1, 1927 _
1

_

Compiled by A. W. Law & Co.




$838, 170
557, 130
576, 783
554, 047
815 223
592, 069
676, 326
600, 701
590, 951
582, 829
614, 079
606, 205
604, 473

$16, 267, 400
16, 536, 400
16, 536, 400
16, 536, 400
17, 048, 900
16, 043, 900
16, 567, 900
16, 567, 900
16, 567, 900
1 6, 567, 900
16, 769, 900
15, 517, 950
15, 676, 150

1

Cords of pulpwood consumed
Tons of wood pulp produced

1926

1925

4, 022, 813
2, 478, 102

3, 656, 838
2, 237, 602

10.0
10.7

1
Compiled by the Bureau of the Census, Department of Commerce, in cooperation
with the Forest Service, Department of Agriculture.

PRODUCTION OF COOPERAGE STOCK 1

Ratio
5.15
3.37
3.49
3.35
4.78
3.69
4.08
3.63
3.57
3.52
3.66
3.91
3.86

Per cent
of increase

CLASS

Tight stock:
Staves (thousand pieces) _
Heading (thousand sets)
Slack stock:
Staves (thousand pieces)
Heading (thousand sets)
Hoops (thousand pieces)

1925

1923

Per cent
of increase
or decrease (—)

240, 023
23, 052

222, 507
19, 342

7.9
19.2

937, 597
71, 371
149, 167

893, 682
80, 477
153, 954

4.9
— 11.3
-3.1

1
Statistics compiled by the Bureau of the Census, Department of Commerce, in
cooperation with the Forest Service, Department of Agriculture.

28

RELATIVE DEBITS TO INDIVIDUAL ACCOUNTS AT CLEARING-HOUSE CENTERS
GROUPED BT FEDERAL RESERVE DISTRICTS
[ Table continued on p. 29]

YEAR AND MONTH

BOSTON DISTRICT
U.S.
I'OTAL,
141
Hart- ProviCEN- TotM,
dence
TERS centers Boston ford

1919 average, millions
of dollars
1919
1920
1921
1922
1923
1924
1925
1926

monthly
monthly
monthly
monthly
monthly
monthly
monthly
monthly

NEW YORK DISTRICT

New
Haven

PHILADELPHIA DISTRICT

Total,
New
Albany Buffalo Roches7
York
ter
centers

Total, Phila- Scran10
centers delphia ton

Trenton

37,446

1,769

1,245

92

144

72

20, 917

87

263

120

20,354

1,625

1,373

53

43

average. 100.0
average.
106.0
average.
88.7
average .
97.8
average _
103.2
average. 109.5
average.
126.8
135.3
average.

100.0
109.2
102.4
105.5
117.1
120.9
136.7
146.1

100.0
105.9
106.7
109.3
120.2
125.6
143.9
157. 0

100.0
117.4
98.9
103.3
119.6
131.3
141.7
152.3

100.0
118.7
93.0
95.1
105.5
104.4
114.9
113.4

100.0
118.1
98.6
104.2
122.2
125.8
134.6
139.6

100.0
99.3
85.2
98.4
98.2
108.3
128.7
139.0

100.0
111.5
119.5
119.5
118.3
135.0
147.7
154.0

100.0
114.8
92.8
99.6
114.8
115.0
133.3
136.9

100.O
119.2
103.3
110.0
124.2
129.0
144.3
146.3

1OO.O
98.8
84.8
98.3
97.6
107.9
128.3
138.8

100.0
113.3
95.9
102.5
114.3
116.8
129.5
136.7

100.0
112.4
93.8
101.7
111.9
114.3
128.1
133.1

100.0
124.5
122.7
109. 4
139.6
142.3
138.9
144.2

100.0
125.6
111.6
118.6
137.2
146.5
159.6
168.5

125.6
115.2
120.8
141.4
129.1
145.2

133.6
120.9
121.8
164.2
149.5
153.3

138.4
126.1
128.0
177.2
160.0
161.0

152.2
131.5
129.4
151.1
147. 8
170.7

112. 5
102.8
101.4
126.4
120.1
127.8

144.5
129.2 1
127.8
148.6
134.7
140.3

125.6
114.8
120.1
142.5
132.8
148.9

142.5
134.4
127.5
149.0
118.3
159.7

140.7
133.1
128.1
158.5
137.3
139.5

145.8
125.0
137.5
156.7
134.2
151.7

125.1
114.3
119.7
142.1
132.7
148.9

131.6
118.5
124.7
141.5
123.6
148.0

128.8
115.7
123.0
140.0
122.8
148.9

147.2
139.6
135.9
137.8
111.3
122.7

176.8
151.2
160.5
174.5
160.5
193.1

144.6
119.7
150.7
138.4
128.2
135.3
137.1
125.5
125.3
140.2
126.5
152.4

159.1
123. 0
147.4
151.9
144.3
147.6
149.5
124.9
128.1
167.9
150.8
158.8

169.6
130.1
156.9
164.9
155.8
158.8
161.7
132.3
136.4
182.5
163.1
171.3

175.0
142.4
166.3
156.5
151.1
163.1
162.0
137.0
132.6
144.6
138.0
158.7

131.2
99.3
111.1
111.8
109.7
109.0
112.5
93.0
99.3
146.5
113.9
122.9

145.8
119.5
148.6
138.9
136.1
138.9
147.2
134.7
134.7
145.8
134.7
150.0

150.2
122.1
161.7
144.0
130.9
139.0
136.6
128.9
126.1
141.5
127.0
" 159.9

142.5
147.1
171.2
170.1
197.6
150.5
171.2
131.0
127.5
147.1
139.0
152.8

154.7
120.5
135.7
138.0
126.6
148.3
155.5
127.7
126.6
141.1
127.4
141.1

159.2
129.2
146.7
144.2
135. 5
160.0
154. 2
127.5
138.3
162.5
135.8
162.5

150.0
121.9
162.2
144.0
130.5
138.5
135.9
128.9
125.9
141.3
126.7
160.1

139.2
116.4
143.0
138.1
127.9
136.1
164.3
118.8
128.9
143.6
129.7
153.9

139.0
116.2
141.3
136.6
126.4
135.0
137.8
115.9
126.6
141.1
128.7
153.0

132.1
103.8
152.8
147.2
137.8
145.3
149.1
145.3
151.1
166.1
143.4
156.6

169.8
169.8
169.8
158.2
162.8
167.5
174.5
148.9
158.2
172.1
158.2
211.7

146.1

159.6

174.1

168.5

114.6

147.2

153.4

133.3

143.0

152.5

153.6

142.8

141.7

145.3

172.1

Grand
Des
Moines Rapids

Sioux
City

1925
July
August
September
October
November
December
1936
January..
_
February
March
- ._ _.
April
May
June
July

AugustSeptember
October
November
December
1927
January
February
March
April
May
June
July

I
ATLANTA DISTRICT

YEAR AND MONTH

Total,
Bir15 Atlanta mingham
centers

1919 average, millions
928
of dollars.. _
1919 monthly average. - 1OO.O
115.1
1920 monthly average. 84.2
1921 monthly average _ 86.0
1922 monthly average .100.0
1923 monthly average. 105.3
1924 monthly average. 125.0
1 925 monthly average. 129.0
1926 monthly average. -

1925
July. _
August
September . _ _
.
October
November
December .
1926
January
February
March
AprilMay.
June
July. _
August...
-..
September .
October
November
__ __
December _
_
1927
January.
_ ... .
February
March _
April
May
June
July

CHICAGO DISTRICT

New
Orleans

Jacksonville

Nashville

Augusta

Total,
21
centers

Chicago

Detroit

48

MilIndian- wauapolis
kee

123
1OO.O
108.9
85.4
90.2
108.9
113.1
129.2
132.9

59
1OO.O
128.8
103.4
133.9
183.1
199.3
226.7
252.1

304
100.0
115.4
82.2
89.5
97.4
106. 4
118.2
113.6

100.0
125.0
91.7
97.9
112.5
126.5
206.2
232.6

93
100.0
120.4
105.4
71.0
78.5
79.2
87.6
89.7

37
100.0
110.8
64.9
70.3
83.8
74.6
78.2
72.6

4,242
100.O
116.0
92.0
96.8
108.8
110. 8
124.9
132.0

2,800
100.0
113.0
91.7
96.2
105.0
113.8
120.4
127.5

525
100.0
125.2
91.2
101.3
125.7
130.6
158.3
166.4

136
100.O
123.5
100.0
104.4
115.4
110.8
115.4
135.2

11.7. 7
113.5
134.9
154.2
130.1
147.3

118.7
119.5
136.6
154.5
132.5
145.5

220.4
206.8
247.5
262.7
222.0
245.8

108.9
99.3
124.3
143.4
119.7
134.5

200.0
197.9
225.0
281.2
250.0
302.0

90.3
80.6
88.2
93.5
82.8
91.4

62.2
64.9
89.2
108.1
81.1
89.2

129.0
116.6
120.7
136.1
119.9
137.9

123.8
110.6
115.1
130.1
113.0
132.8

167.8
152. 4
161.9
178.7
164.0
180.0

123.5
108.1
105.1
122.1
111.8
139.0

144.2
120.5
151.4
133.7
121.5
119.2
124.4
113.3
123.2
142.0
118.7
135.6

139.8
122.8
161.0
132.5
128.5
125.2
127.6
115.4
126.0
142.3
127.6
146.3

262.7
215.3
262.7
254.3
239.0
323.7
245.8
217.0
239.0
266.1
240.7
259.3

131.2
103.3
119.1
123.7
103.0
104.9
110.8
102.0
109.5
134.5
98.7
123.0

287.5
254.1
275.0
247.9
235.4
225.0
218.7
206.2
195.8
222.9
193.7
229.1

88.2
87.1
103.2
92.5
84.9
89.2
92.5
84.9
83.9
95.7
84.9
89.2

86.5
67.6
78.4
70.3
67.6
56.8
62.2
56.8
86.5
89.2
70.3
78.4

137.9
118.6
142.7
133.0
129.9
135.1
136.2
128.0
122.8
133.5
123.2
143.4

135.2
115.9
139.2
126.9
124. 6
128.7
131.4
123.3
116.3
126.9
.119.0
142.3

167.4
144.6
177.5
177.4
165.9
178.3
171.6
167.1
159.8
170.9
150.3
166.3

131.7

134.1

264.4

119.1

216.6

94.6

70.3

134.4

131.0

161.0

83
' 237
10O.O
100.0
124.0
114.5
84.4
97.5
101.7
83.1
97.6
115.6
103.2
110.5
119.4
89.9
98.1
127.3

100.0
128.0
109.3
81.3
89.3
88.4
114.1
115.5

63
100.0
109.5
63.5
101.6
119.0
123.4
136.9
129.9

118.6
113.1
117.3
130.4
114.3
125.7

96.4
80.7
86.8
106.0
94.0
100.0

121.3
128.0
114.6
125.3
116.0
130.6

133. 3
128.5
117.4
139.7
120.6
141.2

137.5
119.1
135.3
130.1
133.1
152.2
150.0
128.7
127.9
136.0
128.7
143.4

130.8
117.3
142.2
121.1
125.7
126.6
128.3
119,8
121.5
137.1
124.9
132.1

100.0
83.1
104.8
100.0
98.8
97.6
96.4
88.0
96.4
102.4
96.4
113.3

122.6
101.3
121.3
121.3
112.0
114.6
117.3
112.0
112.0
122.6
106.6
122.6

147.6
125.4
163.9
131.7
125.4
136.5
131.7
119.0
117.4
131.7
104.7
123.8

141.9

132.5

95.2

118.6

130.1

75

i
!

|

i

1

i

i

i Compiled from data collected by the Federal Reserve Board, this table supplements similar data published in the October, 1923, SURVEY (No. 26), pp. 51 to 55, and
which have been carried forward since that issue in the July, 1924, SURVEY (No. 35), pp. 58 to 60, the April, 1926, SURVEY (No. 56), pp. 24 to 26, and the October, 1926
SURVEY (No. 62), pp. 22 to 24. Subsequent comparable data will appear in the advance reprints.




29
RELATIVE DEBITS TO INDIVIDUAL ACCOUNTS AT CLEARING-HOUSE CENTERS
GROUPED BY FEDERAL RESERVE DISTRICTS
[ Table continued on p. SO]

RICHMOND DISTRICT

CLEVELAND DISTRICT
YEAR AND MONTH

Total,
CleveAkron Cincin13
land
nati
centers

1919 average millions of dollars...
1919 monthly average.
1920 monthly average. .
1921 monthly average
1922 monthly aver age _.
1923 monthly average. .
1924 monthly average
1925 monthly average.
1926 monthly average. July
August
SeptemberOctober
November
December

1935

1926
January .
February. -_
. ..
March...
April.
May
June...
July
August
September.
October
November...
December
1937
January
February
March.. .
April
May
June
July

Baltimore

Norfolk

Rich- Charleston
mond

1,963

90

247

653

746

60

116

116

50

718

404

84

116

37

100.0
115. 6
63.3
63.3
80.0
81.4
100.0
104.5

100.O
113.0
107.7
117.4
133.6
128.0
142.7
150.3

1OO.O
115.9
81.9
84.1
99.2
96.8
106.6
117.2

100.0
118.5
94.9
97.2
112.7
113.2
126.4
126.7

100.0
110.0
78.3
83.3
103.4
102.0
117.0
118.0

10O.O
117.2
100.0
132.8
153.5
155.7
178.3
189.5

10O.O
111.2
102.6
112.1
128.5
116.0
126.9
138.3

10O.O
104.0
110.0
112.0
138.0
136.0
156.0
176.5

100.0
111.8
95.5
89.6
98.6
96.3
106.7
108.4

100.0
115.6
104.9
89.1
93.3
93.4
104.6
107.4

100.0
102.3
71.4
78.5
88.1
82.2
85.6
94.2

100.0
107.8
98.3
110.9
112.9
109.1
122.4
122.2

100.0
102.7
67.6
67.6
78.4
69.6
73.0
76.2

130.6
114.5
117.6
135.6
119.3
135.1

110.0
98.9
118.9
116.7
97.8
108.9

143.7
127.5
136.9
153.5
140.5
160.7

116.2
101.2
103.0
116.7
102.6
117.4

132.7
114.6
117.3
143.1
128.1
139.5

120.0
110.0
123.4
148.4
111.7
120.0

192.2
173.3
170.7
193.1
163.8
207.8

136.2
124.1
131.9
140.5
122.4
144.8

188.0
154.0
156.0
162.0
142.0
168.0

110.7
100.9
105.6
116.9
107.3
122.3

112.9
104.0
104.0
111.4
102.0
117.8

80.9
72.6
76.2
95.2
92.8
109.5

111.2
116.4
130.2
145.7
138.8
150.0

59.5
94.6
67.6
83.8
67.6
75.7

137.9
109.9
126.0
129.4
119.2
130.1
136.1
120.2
122.6
134.4
121.6
141.9

111.1
86.7
111.1
112.2
101.1
105. 5
107.8
97.8
110.0
107.8
95.5
107.8

175.7
138.9
153.5
159.5
139.7
143.3
153.9
132.8
130.8
154.3
150.6
170. 9

126.3
90.6
109.8
123.2
105.0
115.0
126.0
108.5
110.4
127.5
128.3
136.0

136.8
117.7
130.0
123.3
119.7
134.5
131.3
116.3
119.7
133.2
121.7
135.7

123.4
96.7
108.4
121.7
113.4
111.7
131.7
120.0
121.7
126.7
108.4
131.7

200.9
169. 0
182.8
185.4
180.2
194.0
208.6
197.4
187.1
187.9
172.4
208.6

146.6
111.2
127.6
151.7
135.3
144.0
149.1
134.5
131.9
141.4
131.9
154.3

188.0
146.0
182.0
176.0
160.0
172.0
210.0
166.0
176.0
182.0
164.0
196.0

115.1
100.7
111.4
107.7
101.1
110.0
117.4
96.0
100.7
115.1
102.1
121.9

112.4
98.8
112.4
111.1
102.7
113.1
122.8
96.0
94.1
107.7
98.0
119.3

96.4
80.9
94.0
92.8
88.1
95.2
97.6
85.7
88.1
101. 2
96.4
114.2

135.3
113.8
123.3
121.1
106.0
111.2
127.6
106.0
125.9
139.7
119.0
137.9

78.4
70.3
78.4
73.0
70.3
75.7
62.2
64.9
78.4
113.5
73.0
75.7

141.9

97.8

167.6

130.6

142.0

131.7

204.3

162.1

202.0

111.6

109.1

96.4

131.9

67.6

ST. LOUIS DISTRICT

SumTota,,
MemSt.
Fort
mary LouisDallas Housfor 5
ton
Worth
ville
Louis
phis
centers
centers

1919 average, millions
of dollars. .

Total,
centers

10O.O
116.4
89.6
94.6
110.9
109.4
121.0
127.4

DALLAS DISTRICT
YEAR AND MONTH

Colum- DayPitts- Youngs
ton
burgh town Toledo bus

MINNEAPOLIS DISTRICT
Little
Rock

Total,
St.
9 Duluth Minneapolis Paul
centers

Helena Billings

521

161

138

92

965

156

617

136

36

659

90

354

162

11

1919 monthly average.. 100.0
1920 monthly average.. 117.4
1921 monthly average. . 93.2
1922 monthly average..
97.9
1923 monthly average.. 101.3
1924 monthly average. . 102.3
1925 monthly average. . 112.8
1926 monthly average. . 115.2

100.0
114.3
90.7
96.9
107.5
112.7
130.8
131.5

100.0
115.2
86.2
81.2
89.0
91.2
103.6
109.5

100.0
119.6
109.8
119.6
93.5
78.0
82.4
92.1

100.0
105.4
89.0
94.5
110. 4
110.6
124.2
127.3

100.0
92.3
82.0
87.8
101.9
106.7
120.8
128.7

100.0
106.5
91.9
94.2
108.4
108.2
120.8
122.8

100.0
107.4
73.5
87.5
106.6
101.1
111.7
111.5

100.0
125.0
116.7
127.8
169.5
186.2
204.9
226.4

100.O
108.5
82.7
88.0
94.8
104.2
114.3
104.9

100.0
120.0
84.4
82.2
85.5
117.7
118.2
88.2

100.0
109.6
84.2
85.0
91.5
103.8
119.4
110.3

100.0
98.2
75.3
97.5
106.8
101.6
104.7
102.2

100.0
100.0
100.0
90.9
81.8
85.6
85.5
82.6

101.5
98.1
115.5
133.8
120.7
130.7

114.9
105.0
131.7
165.2
146.0
158.4

91.3
99.3
120.3
119.6
109.4
116.7

80.4
73.9
72.8
97.8
87.0
97.8

117.9
108.1
123.5
142.0
126.8
143.7

129.5
105.8
113.5
123.7
114.7
132.7

116.2
108.1
116.1
133.2
120.1
137.9

84.6
78.7
128.7
156.6
132.4
139.0

166.7
177.8
233.4
283.4
241.7
277.8

107.1
106.5
128.6
133.0
118.8
128. 9

113.3
104.4
167.8
152.2
143.3
125.5

105.4
110.5
134.2
137.6
120.9
136.2

108.0
100.0
99.4
112.3
102.5
117.9

100.0
81.8
100.0
109.1
81.8
100.0

77.8
77.8
88.9
122.2
88.9
100.0

126.8
108.2
117.6
106.3
99.2
104.8
109.6
104.2
123.6
132.4
119.4
130.3

157.8
129.2
134.2
119.3
112.4
117.4
121.7
112.4
139.7
150.3
137.3
146.6

110.1
90.6
105.8
101.4
91.3
97.8
102.9
103.6
129.7
136.2
114.5
130.4

92.4
80.4
87.0
81.5
79.4
85.9
100.0
94.6
95.7
102.2
98.9
107.6

139.1
116.4
130.4
126.5
125.4
126.9
127.9
113.1
120.8
137.8
127.4
135.4

132.0
123.7
134.0
129.5
119.2
131.4
164.7
119.2
115.4
128.2
119.9
126.9

134.4
110.4
125.5
123.2
124.8
125.5
124.7
107. 3
113.8
129.8
121.6
132.3

132.4
104.4
116.2
105.1
101.5
101.5
100.7
92.6
111.0
133.8
119.9
118.4

244.5
211.1
225.0
213.9
202.8
180.6
211.1
213.9
247.2
286.1
247.2
233.4

104.1
90.9
105.3
101.3
100.6
101.6
105.0
99.2
110.6
118.8
108.2
113.6

78.9
64.4
78.9
73.3
101.1
90.0
80.0
72.2
107.8
125.5
102.2
84.4

110.5
95.2
109.9
105.9
103.4
105.4
111.6
109. 3
118.9
120.9
112.2
119.8

105.6
97.5
109.3
105.6
95.7
100.6
101.9
93.8
93.8
106.2
99.4
116.7

81.8
63.6
81.8
72.7
72.7
81.8
90.9
81.8
90.9
100.0
90.9
81.8

66.7
66.7
77.8
88.9
77.8
77.8
88.9
77.8
88.9
133.3
111.1
100.0

122.4

138.5

118.1

97.8

131.0

131.4

126.9

114.7

219.5

95.1

67.8

100.0

100.0

72.7

88.9

1935
July
August
September
October
November
December _
1936
January
February...
March.
April
May
June
July
August
September. ..
October
November..
December
1937
January .
February. .
March
April
May
June
July....

>
:

9

100.0

111.1

88.9
77.8
88.9
78.7
84.3
88.0

|

i Compiled from data collected by the Federal Reserve Board, this table supplements similar data published in the October, 1923, SURVEY (No. 26), pp. 51 to 55, and
which have been carried forward since that issue in the July, 1924, SURVEY (No. 35), pp. 58 to 60, the April, 1926, SURVEY (No. 56), pp. 24 to 26, and the October, 1926,
SURVEY
(No. 62), pp. 22 to 24. Subsequent comparable data will appear in the advance reprints.



30

RELATIVE DEBITS TO INDIVIDUAL ACCOUNTS AT CLEARING-HOUSE CENTERS'
GROUPED BT FEDERAL RESERVE DISTRICTS
SAN FRANCISCO DISTRICT

KANSAS CITY DISTRICT
YEAR AND MONTH

1919 average, millions of
dollars -

Total,
14
centers

Denver

Kansas

city,
Mo.

Oklahoma
City

St.
Omaha Joseph,
Mo.

Tulsa

Total,
Los
18
centers Angeles

Portland,
Oreg.

San
Francisco

Seattle

Oakland,
Calif.

1,231

146

413

264

85

68

94

1,909

314

181

760

206

63

100.0
109.8
82.0
84.2
90.6
85.7
95.3
100.2

100.0
139.7
98.6
102.7
111.6
112.9
121.5
123.2

100.0
94.9
74.6
74.3
84.3
81.4
90.1
93.4

100.0
95.5
67.4
73.1
77.7
69.7
76.9
75.4

100.0
97.6
81.1
69.4
72.9
71.6
72.7
73.4

100.0
153.0
129.4
119.2
114.7
112.1
127.4
139.1

100.0
131.9
88.3
105.3
104.3
89.6
112.6
136.0

100.0
123.2
104.5
107. 2
126.3
128.9
142.9
155.7

100.0
139.2
143.0
165.0
223.6
236.7
251.1
278.1

100.0
108.8
82.3
76.2
86.2
89.4
92.0
101.0

100.0
124.6
101.9
94.8
104.0
107.1
126.1
138.2

100.0
96.1
67.0
73.3
83.0
' 87.7
98.0
103.2

100.0
160.8
128.5
144.4
192.0
196.3
227.3
273.0

1935
July
August - - - - - - - September
October
November
December __

100.8
95.4
93.8
102.8
91.6
104.9

119.2
119.2
121.9
137.7
119.2
129.4

99.5
93.2
88.4
99.5
89.6
98.5

79.9
78.4
77.3
82.2
69.7
78.0

74.1
74.1
65.9
74.1
65.9
81.1

129.4
114.7
119.2
136.8
130.9
148.6

122.4
113.2
117.7
113.8
102.1
141.5

141.4
137.9
142.2
156.8
144.1
165.0

248.1
233.8
242.1
255.8
249.1
280.6

95.6
92.8
98.3
112.2
91.2
99.5

127.3
122.7
123.7
141.1
124.6
147.7

96.1
99.0
106.8
105.8
99.0
107.8

214.2
223.8
226.9
250.7
238.1
279.3

1936
January
_ _ _
February
March.
April.._
May
.
June.
July
August
September. _
October
November
December.. _

99.2
84.4
98.2
94.3
92.0
99.5
115.1
101.9
101.5
108.0
100.6
108.1

119.9
104.8
121.9
119.9
111.6
119.2
139.0
120.5
134.2
139.7
117.8
130.1

93.5
78.0
87.4
85.0
84.7
89.1
115.7
101.0
95.6
100.5
92.7
98.1

72.4
67.8
83.0
73.5
73.5
78.4
81.4
79.9
71.6
78.4
71.2
73.5

78.8
64.7
75.3
65.9
70.6
77.6
78.8
69.4
71.7
76.4
72.9
78.8

150.0
125.0
141.2
129.4
128.0
141.2
147.1
132.4
193.7
141.2
139.7
155.9

136.2
107.5
133.0
130.9
127.7
136.2
145.8
130.9
139.4
141.5
136.2
167.0

157.2
153.7
171.2
154.8
144.9
151.7
160.8
147.0
153.4
159.1
145.5
168.7

281.9
268.5
310.5
275.2
253.2
275.2
292.4
260.2
271 .4
281.6
264.7
301.9

92.8
87.3
100.6
95.6
100.6
101.7
105.5
107.2
104.4
109.4
105.0
102.2

138.6
152.9
157.8
137.0
128.7
132.8
141.5
129.5
132.3
138.6
123.2
145.2

100.0
88.3
110.7
107.3
97.6
102.9
104.8
104.8
113.6
108.2
97.1
102.9

265.0
257.1
295.2
266.6
250.7
266.6
293.6
242.8
263.4
261.9
241.2
371.4

102.3

121.9

88.9

74.2

71.7

154.9

160.7

164.9

308.3

89.5

144.8

91.7

338.0

1919 monthly average
1920 monthly average .
1921 monthly average. _ _
1922 monthly average
1923 monthly average _ _
1924 monthly average
1925 monthly average
1926 monthly average

January
Februarv
March
AprilMay
June
July. .

1927

DISTRICT TOTALS— SEASONAL VARIATIONS ELIMINATED 2
YEAR AND MONTH
1919 monthly average
1920 monthly average
1921 monthly average
1922 monthly average.. 1923 monthl y average
1924 monthly average
1925 monthly average
1926 monthly average

U.S.
total

Boston

New
York

Philadelphia

Cleveland

100.0

100.0
109.5
101.9
105.4
117.1
121.1
136.6
146.0

100.0

100.0

100.0

106.0
88.7
97.8
103.3
109.5
126.7
135.4

Rich,
mond

St.
Atlanta Chicago Louis

99.3
85.1
98.5
98.0
108.3
128.6
139.0

105.1
95.9
102.5
114.4
116.8
129.4
136.6

116.4
89.8
94.5
111.1
109.5
122.0
127.4

100.0
112.1
95.6
89.5
98.8
96.5
106.7
108.5

100.0
115.6
84.4
85.9
99.9
105.3
124.8
128.4

100.0

1OO.O

Minne- Kansas
apolis
City
100.0

116.1
92.0
96.8
109.0
110.8
123.8
132.1

105.5
89.1
94.2
110.3
110.5
124.1
127.3

108.5
82.9
87.9
95.0
103.1
114.4
105.3

100.0
109.8
82.1
84.1
89.7
87.0
95.2
100.2

San
Dallas Francisco

100.0

100.0

118.0
94.3
97.9
101.1
101.2
112.8
115.5

123.4
105.4
107.1
126.4
129.4
142.9
156.2

1935
July___
August—
September
October.
November
December..

126.7 |
125.1
127.2
132.4 I
126.6 j
128.7

132. 1
137.2
134.0
150. 6
141. 7
135. 4

127.5
127.8
129.7
134.3
129.7
131.1

130.8
125.0
129.0
133.4
125.2
131.0

126.6
120.3
120.7
132.3
122.4
117.6

110.0
104.1
110.6
107.5
103.0
106.3

124.2
125.8
139.9
139.0
122.4
128.2

127.3
119.6
122.2
117.7
121.8
127.0

121.2
118.5
130.0
129.7
124.4
127.8

112.5
111.3
116.4
112.3
110.3
116.1

100.5
93.4
92.6
97.0
92.0
101.2

143.1
142.0
140.8
144.0
138.5
144.5

1936
January
February
March
April
May
June
July
August
SeptemberOctober
November
December __

113.3
109.1
111.6
113.7
109.1
110.4
£&•

138.5
139.2
149.1
141.7
128.1 I
130.9
138.3
136.3 i
131.9
131.3
124.0
135.1

149.8
143.0
147.8
156.6
145. 0
141.9
147.9
141. 8
140.9
154.0
142.9
140.3

142.4
142.8
159. 0
145.7
128.3
133.1
138.7
143.5
136.2
133.4
124.0
140.8

136.2
135.7
142.6
141.6
129.1
129.4
163.3
125.3
133.3
135.3
131.4
136.2

132.5
126.6
128.3
130.4
123.0
124.0
131.9
126.3
125.9
131.1
124.7
123.5

111.0
117.5
115.3
114.6
104.8
108.1
116.7
99.1
105.4
105.9
98.0
105.9

132.9
135.7
140.3
140.6
125.8
123.3
131.2
125.6
127.8
128.0
111.7
118.0

135.5
135.9
139.6
137.0
130.9
132.1
134.5
131.3
124.3
126.4
125.2
132.0

129.6
128.9
129.9
131.6
128.0
125. 8
131.6
124.0
127. 1
125.8
125.0
120.5

103.5
114.5
112.3
107.9
105.1
103.6
110.2
103.7
100.1
100.3
100. 5
102.3

95.9
96.1
96.2
98.4
93.2
99.7
114.8
99.8
100.2
102.6
101.0
104.2

118.4
122.8
120.4
117.3
106.7
111.8
122.3
115.9
119.4
112.5
108.0
110.1

158.6
183.4
167.4
162.1
150.0
152.9
162.8
151.4
151.9
146.1
140.0
147.7

139.9

150.3

145.4

139.7

136.3

107.6

121.4

132.0

122.1

94.5

98.9

114.3

166.4

January
February
March
April
May
June
July

1937

j
II

1 Compiled from data collected by the Federal Reserve Board, this table supplements similar data published in the October, 1923, SURVEY (No. 26), pp. 51 to 55, and
which have been carried forward since that issue in the July, 1924, SURVEY (No. 35), pp. 58 to 60, the April, 1926, SURVEY (No. 56), pp. 24 to 26, and the October, 1926,
SURVEY (No. 62), pp. 22 to 24. Subsequent comparable data will appear in the advance reprints.
2 Compiled from data collected by the Federal Reserve Board, supplementing similar data published in the February, 1924, SURVEY (No. 30), p. 25 (method of computation
given on p. 24 of that number) and which have been carried forward since that issue in the aforementioned issues. Subsequent comparable data will appear in the advance
reprints.



*^1
ol

TREND OF BUSINESS MOVEMENTS
The following table contains a summary of the monthly figures, designed to show the trend in important
industrial and commercial movements. These data represent continuations of the figures presented in the
latest semiannual number (February, 1927), in which monthly figures for 1926 and 1927 may be found, together
with explanations as to the sources and exact extent of the figures quoted. The figures given below should
always be read in connection with those explanations. Data on stocks, unfilled orders, etc., are given as of the
end of the month referred to. For explanations of relative numbers, including base periods, see introduction
on inside front cover.
1936

The cumulatives shown are through December except where otherwise noted.
Earlier data for items shown here may
be found on pages 26 to 134 of the February, 1927, "Survey"

August

1937

1936

PER CENT INCREASE (+) OR
DECREASE (— )

Jan.,
1927,
from
Dec.,
1926

CUMULATIVE TOTAL
FROM JANUARY 1
THROUGH DECEMBER 31

Jan.,
1927,
from
Jan.,
1926

Perct
increase
(+)
or decrease
(-)
cumulative
1926
from
1925

September

October

November

December

January

January

13, 018
8,511
4,507

13, 336
6,921
6,415

14, 834
8,451
6,383

17,498
9,889
7,609

19, 742
6,081
13, 661

29, 883
4,767
25, 116

+12.8 -33.9
-38.5 +27. 6
+79.5 -45.6

306, 012
132, 216
173, 796

349, 215
169, 261
179, 954

+14. 1
+28.0
+3.5

13, 997
18, 998

19, 264
24,499

25, 063
32, 127

25,004
30, 116

27,542
33, 399

45, 102
54, 130

+10.2
+10.9

-38.9
-38.3

339, 251
412, 050

309, 770
369, 033

-8.7
-10.4

45, 770

49, 072

47, 808

47, 839

46,389

526, 285

510, 033

-3.1

1935

1936

TEXTILES
Wool
Receipts at Boston:
Total . .
thous . of Ibs
28, 035
Domestic
thous. of lbs._ 23, 611
Foreign
thous. of lbs__
4,424
Imports:
In condition imported
thous. of lbs__ 15, 305
Grease equivalent
..thous. of lbs_. 19, 200
Consumption by textile mills,
grease equivalent
thous. of Ibs. _ 40, 859
Stocks, grease equivalent, end of quarter:
Total.
thous. oflbs..
Held by manufacturers
thous. of lbs__
Held by dealers _
thous. of Ibs
Machinery activity, hourly:
Looms56
Wide
per ct of hours active
55
Narrow •
per ct. of hours active
Carpet and rug.per ct. of hours active. _
60
Sets of cards
per ct of hours active
71
74
Combs .
per ct . of hours active
Spinning spindles67
Woolen
per ct. of hours active
Worsted
per ct of hours active
66
Prices:
Raw, territory, fine, scoured.. dolls, per lb_.
1.11
Raw, Ohio and Pa. fleeces,
.44
^ blood, combing, grease... dolls, per lb__
Worsted yarn..
_
.dolls, per lb__
1.40
Women's dress goods, French
1.05
serge
_
dolls, per yd__
Men's suitings
dolls per yd
3.29

324 578
160, 159
164,419

375, 714
161, 943
213, 770

41,446

-3.0

+11.9

i 346, 678
i 175, 898
i 170, 780

-13.6
-1.1
-23.1

-6.4
-8.9
-3.7

64
57
62
80
84

71
68
65
89
90

73
67
67
84
88

72
67
65
81
84

68
65
65
75
84

67
63
68
77
85

-5.6
-3.0
0.0
-6.2
0.0

+1.5
+3.2
-4.4
-2.6
-1.2

76
74

86
79

81
80

77
78

72
75

72
272

-6.5
-3.8

0.0
+4.2

1.11

1.12

1.12

1.08

1.08

1.28

0.0

-15.6

.44
1.40

.45
1.40

.45
1.40

.44
1.40

.44
1.38

.54
1.55

0.0
-1.4

-18.5
-11.0

1.01
3.29

1.00
3.29

1.00
3.29

1.00
3.29

1.00
3.29

1.00
3.60

0.0
0.0

0.0
-8.6

2,126
10, 007

3,483
30, 449

3,593
41,441

2,660
39, 851

3 16, 610
1,556
56, 939

« 16, 123
1,155
62, 061

-41.5
+42.9

+34.7
-8.3

_ _
15,854
313, 361

16,480
362, 369

+3.9
+15.6

794, 584 1, 369, 820 1,486,224 1, 531, 297 1, 115, 792
568, 532
604, 584
571, 105
583, 950 605, 217

749, 967
582, 315

-27.1 +48.8
-0.1 +3.8

8,532,243
6,432,529

9, 048, 346
6, 687, 189

+6.0
+4.0

_

Cotton
Ginnings
thous. of bales
Receipts into sight
thous. of bales
536
Imports, unmanufactured
bales
13, 280
Exports, unmanufactured
(including linters)
bales.. 391, 329
Consumption by textile mills
bales
500, 652
Stocks, domestic, end of month:
2,637
Total, mills and w'houses thous of bales
921
Mills
thous. of bales
Warehouses
thous of bales
1,716
Stocks, world visible, end of month:
3,183
Total
thous of bales
American
thous. of bales
1,989
Machinery activity of spindles:
31, 322
Active spindles
thousands
Total activity
millions of hours
7,489
200
Activity per spindle
hours
87.4
Ratio to capacity
per cent
Prices:
To producer
dolls per Ib
.161
.187
In New York, middling
.dolls, per lb__

4,230
937
3,293

6,686
1,216
5,470

8,015
1,498
6,518

8,245
1,766
6,479

7,923
1,853
6,070

6,996
1,815
5,181

-3.9 +13.3
+4.9 +2.1
-6.3 +17.2

4,284
3,116

6,148
5,056

7,457
6,368

8,519
7,229

8,796
7,227

6,774
5,238

+3.3 +29.8 !
0.0 +38.0

32, 135
8,248
220
98.5

32, 593
8,370
224
98.9

32, 587
8,480
227
101.2

32,496
8,563
229
100.3

32, 634
8,558
229
102.3

32, 810
8,356
221
98.6

.168
.170

.117
.132

.110
.128

.100
.128

.106
.134

88, 295

79,480

2 85, 179

74, 000

2

.174
.208

+0.4
-0.1
0.0
+2.0
+6.0
+4.7

-0.5
+2.4 '
+3.6
+3.8
-39.1
-35.6

Cotton Goods
Cotton finishing:
Billings, finished goods (as
79, 223
produced)
thous. of yds._ 69, 554
O r d e r s received, gray
84, 438
yardage
thous. of yds_. 75, 180
49, 312
Shipments,finishedgoods.
_ .cases. . 44, 336
36, 868
Stocks, finished goods, end mo
cases .. 38, 449
59
66
Operating activity
per ct. of capacity. _
6.7
Unfilled orders, end of month.
days_.
5.7
Cotton textiles:
Total (9 classes)—
Production
thous of yds
208, 658 190, 556
Stocks, end of month
thous. of yds_. 216, 253 184, 036
Unfilled orders, end mo. -thous. of yds_. 270, 482 302, 130
Sheetings—
61, 008
52. 691
Production
thous of yds
26, 601
Stocks, end of month
thous. of yds.. 27, 324
60,912
Unfilled orders, end mo. -thous. of yds. . 65,084
* Quarter ending D ec. 31,192 5.



78, 170

-13.1

-5.3 !

945, 076

974, 569

+3.1

918, 691
524, 291

942, 782
568, 228

+2.6
+8.4

79, 350
51, 010
36, 161
70
6.2

76, 483
45, 941
37, 113
63
6.0

276,354
2 45, 564
2 38, 012
66
5.0

86, 676
48,200
36, 144
69
6.8

87,188
46, 679
41, 111
62
7.4

+13.5 -0.6
+5.8 +3.3 1
-4.9 -12.1
+4.5 +11.3
+36.0 -8.1

230, 607
181, 834
290, 917

197, 231
193, 099
277, 857

199, 578
210,122
274, 715

242, 208
184, 603
386, 795

229, 453
220, 486
279, 025

+21.4 +5.6 i!
-12.1 -16.3
+40.8 +38. 6 I

51, 853
52,399
51, 438
3 Revised.

62, 970
41, 980
91, 786

57, 015
31, 105
64, 378

66, 205
34, 365
52, 968

53,008
45, 212
56,751 i

+21.4 +10.4 ;
-19.9 +35.0
+78.4 +42.6
*A 3 of Jan. 16.

i

i
i
j

|

32

TREND OF BUSINESS MOVEMENTS—Continued

1927

1926

The cumulatives shown are through December except where otherwise noted.
Earlier data for items shown here may
be found on pages 26 to 134 of the February, 1927, "Survey"

August

September

October

November

December

CUMULATIVE TOTAL
FROM JANUARY 1
THROUGH DECEM-

PER CENT INCREASE (+) OR
DECREASE (— )

1926

January January

Jan.,
1927,
from
Dec.,
1926

Jan.,
1927,
from
Jan.,
1926

+31.9
-24.4
+32.1

-2.9
-8.1
+25.1

BER 31

1925

1926

Per ct.
in-

crease
(+)
or decrease
(-)
cumulative
1926
from
1925

TEXTILES-Continued
Cotton Goods— Continued
Cotton textiles— Continued.
Print clothProduction
thous. of yds.. 73, 016
Stocks, end of month
thous. of yds.. 53, 142
Unfilled orders, end mo. -thous. of yds. _ 59, 224
Pajama checksProduction
-thous. of yds. 8,879
3,046
Stocks, end of month
thous. of yds..
24, 806
Unfilled orders, end mo. -thous. of yds._
Prills and twills (40" and narrower)—
Production.
thous. of yds..
9,843
Stocks, end of month __thous. of yds.. 16, 510
Unfilled orders, end mo. -thous. of yds_. 10, 084
Pocketing twills and jeansProduction
thous. of yds. .
2,345
3,875
Stocks, end of month
thous. of yds_.
Unfllled orders, end mo_. thous. of yds_.
2,817
Osnaburgs—
Production
-thous. of yds. _
9,567
Stocks, end of month
thous. of yds._
2,131
Unfilled orders, end mo. -thous. of yds_. 10, 236
Heavy warp sateensProduction
thous. of yds _
991
276
Stocks, end of month
thous. of yds_.
1,281
Unfilled orders, end mo. -thous. of yds_.
Drills, twills, sheetings, and sateens (wider
than 40")—
5,141
Production
thous. of yds. .
8,746
Stocks end of month
thous of yds
8,994
Unfilled orders, end mo_ thous. of yds~
Colored goodsProduction
thous. of yds.. 37, 868
Stocks end of month .thous. of yds. _ 101, 203
Unfilled orders end mo thous of yds
87. 956
Fine cotton goods, production
pieces. . 302, 571
Cotton cloth exports
thous. of sq. yds.. 38, 227
Fabric consumption
by tire manufacturers
.thous. of lbs__
16, 140
Elastic webbing, shipments
thous. of yds.. 10, 695
Prices:
Cotton yarn—
22/1 cones Boston
dolls, per lb._
.363
.500
40/ls New Bedford
dolls per Ib
.076
Print cloth 64 x 60
dolls, per yd..
.092
Sheeting brown
dolls per yd
Cotton goods (Fairchild).-- index number..
157
Silk
Imports, raw
Deliveries (consumption)
Stocks, end of month:
At warehouses
At manufacturers' plants
Price, Japanese, New York

__

thous. of lbs__
.bales. .

bales
. -- -bales. _
-dolls, perlb..

59,060
37, 139
66, 361

71, 818
29, 505
85, 032

58, 584
28, 424
88, 957

7,340
2,906
26, 393

9,736
2,864
25,046

21, 778

8,550

10, 361

8,344
3,539

59, 472
36, 448
82, 088

8,008

4,185
16, 489

80. 835
29, 996
86, 696

8,820
4,957

4,796

921

14, 818

7,080

+10.1 +83.9
+18.4 +438. 2
-10.1 +109. 3

14, 304
10, 957

12,907
9,224

12, 517
10, 618

13; 368
10, 131

12. 677
12, 882
18, 081

17, 136
17, 072
14, 811

+28.8 -26.0
-3.6 -24.5
+78.5 +22.1

1,985
3,108

2,812
1,645
2,901

2,428

3,068

3,974

4,298

5,987

3,309

+29.5 -7.5
-48.3 -91.8
+91.2 +80.9

16, 429

8,357

+37.5
-17.0
+55.4

+51.6
-74.7
+39.4

1,587
1,219
1,384

+31.3
+30.1
+60.5

+40.5
-46.4
+94.4

3,607

8.039
3,736

9,825
4,734

9,229

1,564

3,962

7,200
2,786

9.842

78,467

27, 555

108,457

1,122
3,131

7,936

580

7,091
7,199

11, 770

15, 198

14, 756

2, 549
14, 741

10, 912
2,115
22, 905

2,074

969
258

1,651
238
1,624

1,624
336
2,123

1,697
502
1,677

653
2,691

4,866
8,377
9,049

8,712
11, 240

5,284

5,056
8,426
10,544

10, 072

12, 079

6,851
1,586
19, 052

+8.7 -17.4
-1.2 +465. 4
+19.9 -36.6

47, 056
87, 607
111, 007
413, 762
45, 983

52, 915
86, 864
87, 684
401, 636
37, 556

51, 758
90, 295
68, 368
406, 896
43, 284

52, 494
90, 474
84, 948
470, 469
40, 361

56, 498
84, 913
109, 991
441, 484
39, 834

49, 736
123, 139
65, 886
427, 234
41, 017

+7.6 +13.6
-6.1 -31.0
+29.5 +66.9
-6.2 +3.3
-1.3 -2.9

15, 910
11, 429

13, 973
12, 001

12, 422
12, 335

11, 593
10, 634

.367
.506
.076
.093
159

.329
.482
.068
.090
154

.321
.470
.069
.085
148

.311
.467
.067
.080
143

.301
.460
.068
.080
143

.403
.550
.087
.101
176

-3.2
-1.5
+1.5
0.0
0.0

-25.3
-16.4
-21.8
-20.8
-18.7

8,208

5,208
9,075

2,229

5,661

8.968

i
!

!

13, 198
10, 875

5, 052. 706
543, 205

4, 836. 237
511, 273

-4.3
-5.9

168, 298
161, 731

165, 965
128, 334

-1.4
-20.6

76, 894
501, 343

77, 665
501, 546

+1.0
0.0

7,046

7,936

7,934

45, 943

43, 962

47, 768

47, 634

7.961
39, 771

48, 307

6,821
46, 148

+3.1
+21.5

+20.3
+4.7

28,006

19, 274
5.98

34, 459
18, 491
6.13

35, 094
22, 762
5.78

47, 130
22, 821
5.49

52, 478
23, 270
5.59

52, 627
24, 872
5.34

47, 326
32, 054
6.71

+0.3
+6.9
-4.5

+11.2
-22.4
-20.4

1, 429
1,478
576

1,170
1,591
577

1,108
1,518
676

1,019
1,343
279

1,298
1,355
237

1,595
1,764
224

16,964
19, 281

4,443

16, 389
18, 656
4,551

-3.4
-3.2
+2.4

259, 983
249, 271
295, 607

286, 759
262, 264
301, 160

271, 984 " 241, 685
226, 728
206, 383
324, 672
308, 731

197, 674
154, 175
354, 078

240, 380
222, 392
343, 570

3, 005, 612
2, 607, 426

3, 028, 515
2, 685, 769

+0.8
+3.0

3,359
3,767
7,378
3,477
5,786

3,557

3,487
3.560

3,672
3,339

j

45, 738

45,100

42, 265
43, 441

-7.6
-3.7

3,699
7,242

!
1

46, 655

43, 664

-6.4

!

13, 850
12, 711

12, 351
12, 236

-10.8
-3.7

13, 432

11, 579

-13.8

625, 816
310, 242

300, 565

-4.3
-3.1

29, 260
24, 221

34, 798
27, 072

+18.9
+11.8

6,207

Clothing
Men's and boys' garments cut:
Suits
thous of garments
Separate trousers
thous of garments
Overcoats
thous. of garments
Work clothing:
Cut
dozen garments
Net shipments
dozen garments
Stocks end of month
dozen garments

i

Hosiery
Production
thous. of dozen pairs. _
Net shipments
thous of dozen pairs
Stocks end of month
thous of dozen pairs
New orders
thous of dozen pairs
Unfilled orders, end mo. -thous. of dozen pairs. .

6,953
3,946
5,566

3,694
3,940
6,843
4,289
5,667

927
1,109
1,386
974
1,910

1,004
1,325
1,196
1,087
1,659

52,990
15,070
3,423

4,015

3,733
3,888
6,856

6,156

5,783

6.710
3, 261
5,100

1,015
1,166
1,042
949
1,417

976
999
1,011
1,117
1,460

931
787
1,063
918
1,562

1,060
1,081
993
1,373

32, 066
16, 004

53, 696
18, 836

36, 529
25, 017

41,683

3,470
2,407
2.067

2,954
2,374

2,421

3,026
2,337

4,012

Knit Underwear
Production
Net shipments
-.
Stocks end of month
New orders
Unfilled orders, end of mo

thous. of dozens
thous. of dozens. _
thous. of dozens
thous. of dozens
thous. of dozens. .

Burlap and Fibers
Imports:
Burlap
. ..thous. of lbs_.
Fibers (unmanufactured)
long tons...

34, 666

3,002

49, 797
29, 892

64,493

36, 715

+19.5
-13.8

-22.8
-18.6

598,919

Pyroxylin Coated Textiles
Pyroxylin spread
thous. of Ibs.
Shipments billed
thous of linear yds
Unfilled orders, end of mo.thous. of linear yds..




1,510
2.158

1.625

2,046
2.443

2. 523

2,310
1, 927
1.639

33

TREND OF BUSINESS MOVEMENTS—Continued

1927

1936

The cumulatives shown are through December except where otherwise noted.
Earlier data for items shown here may
be found on pages 26 to 134 of the February, 1927, "Survey"
August

September

October

November

December

1926

January

January

CUMULATIVE TOTAL
FROM JANUARY 1
THROUGH DECEM-

PEE CENT INCREASE (+) OR
DECREASE ( — )

Jan.,
1927,
from
Dec.,
1926

BER 31

Jan.,
1927,
from
Jan.,
1926

1926

1925
_

.

Perct.
increase
( }
ortdecrease
cumulative
1926
from
| 1925

TEXTILES— C ontinued
Cotton Mill Dividends
Fall River mills (quarterly) :
Total
thous of dollars
Ratio to capitalization
per cent per quarter
New Bedford mills (quarterly):
Total
thous of dollars
Ratio to capitalization
per cent per quarter

321

305

'299

-5.0

+2.0

767

727

i.634

-5.2

+14.7

617

612

i 941

-0.8

-35.0

899

891

i i 271

09

29 9

1,674

1,219

-27.2

3,924

2,812

-28.3

144, 348

163, 492

+13.3

FUB
Sales by dealers

thous of dollars

17,647

16, 969

13,664

10, 176

8,943

13, 400

8,714

44.4
11, 754

44.4
11, 759

51.3
12,002

47.5
12,049

242.6
2 12, 079

38.4
10, 140

45.1
2 12, 161

+49.8 +53.8

BUTTONS
Fresh-water pearl buttons:
Production
per ct of capacity
Stocks end of month
thous of gross

-9.9 -14.9
-16.1 -16.6

IBON AND STEEL
Iron
18

13

20

27

16

38

-40.7

-57.9

279

354

233
9,622

190
9,337

186
3,947

205
23

295

202

+43.9

+46.0

2.191
54, 081

2,557
58. 530

+26. 9
+16.7
+8.2

7,346
2,586
4,738

6,906
2,360
4,948

3,283
1,549
4,717

88
30
4,562

4,524

5,043

-0.8

-10.3

38, 700
14, 852
54, 766

42, 388
16. 479
58, 360

+9.5
+11.0
+6.6

37, 335
30, 438
6,897

42,004
34, 407
7,597

42, 761
35, 098
7,663

38, 426
31, 286
7,140

33, 971
27, 279
8,692

32. 035
25, 412
6,623

-11.6
-12.8
-6.3

3,136
700
64

3,334
755
70

3,237
752
52

3,091
769
54

3,104
760
52

3,316
716
57

+0.4
-1.2
-3.7

-6.4
+6.1
-8.8

36, 401
7,909
572

39, 068
8,999
738

+7.3
+13.8
+29.0

216
105, 480
58.4

219
108, 760
58.9

213
105, 850
57.1

2203
2 98, 360
2 54. 7

208
100, 635
57.0

224
104, 065
59.3

+2.5
+2.3
+4.2

-7.1
-3.3
-3.9

14, 365
17, 622
81.3
87
58

21,009
24, 423
86.0
82
82

18, 270
22, 158
82.4
99
72

13, 613
18, 934
71.3
91
62

16, 797
22, 087
76.0
77
64

-25.5 -19.0
-14.6 -14.3
-13.5 -6.2
-8.1 +18.2
-13.9 -3.1

223, 589
287, 168

211, 922
258, 911

-5.2
-9.8

87.6
84
71

15, 427
17, 969
85.8
101
85

53, 796
52.0
53, 586
45, 802

54, 630
53.2
50, 885
43, 874

53, 963
52.7
49, 738
43, 322

43, 214
42.7
41, 102
39, 017

46, 977
48.2
41, 545
37, 737

47, 454
47.7
44, 717
46, 872

72, 417
69.2
52, 287
61, 120

+1.0
-1.0
+7.6
+24.2

-34.5
-31.1
-14.5
-23.3

693, 946

684, 887

i g

656, 958
612, 439

640, 857
570, 521

-2.5
-6.8

19.26
17.50
20.19

19.39
17.50
20.18

20.26
18.00
20.39

20.76
18.50
20.83

20.51
18.50
20.77

20.26
18.00
20.16

22.26
20.00
22.29

-1.2
-2.7
-2.9

-9.0
-10.0
-9.6

18, 174
27, 393
29, 858
102, 913

22, 359
27, 929
30, 820
101, 047

17, 676
30, 978
24, 830
89, 849

15, 914
26, 175
23, 966
81, 010

12, 245
18, 177
12, 768
74, 967

19, 087
13, 087
13 278
74, 324

234, 313
227, 223

233, 324
244, 941

-0.4
+7.8

21, 444
30, 249
33, 187
105, 071

26, 191
31, 888
37, 305
99, 982

22, 338
35, 354
28, 170
87, 437

19, 229
27, 777
28, 255
77, 150

15, 543
19, 932
14, 156
72, 951

20, 802
13, 846
14, 617
89, 567

250, 839
245, 763

247, 149
258, 734

-1.5
+5.3

14, 308
19, 845
23, 028

15, 551
18, 766
21, 080

15, 000
20, 173
18, 257

12, 356
19, 631
20, 236

11, 829
14, 435
12, 316

15, 342
10, 004
10, 576

161, 832
165, 225

174, 223
172, 188

+7.7
+4.2

46, 519

44, 534

39, 409

32, 375

29, 915

32, 115

4,005
3,931
4,093
thous. of long tons-88
86
84
per cent
46
64
59
thous. of long tons. _
i Quarter endin g Dec. 31,1925,

3,722
80
54

3,472
74
58

47, 134

+6.8

778

+3.6

Manganese ore, imports- --thous. of long tons_.
41
Iron ore:
Imports
thous of long tons
259
Shipment from mines. -thous. of long tons.. 10, 709
Receipts—Lake Erie ports and
furnaces
thous. of long tons
7,655
Other ports
_ thous of long tons
2,651
Consumption __
thous. of long tons
4, 796
Stocks, end of monthTotal
thous of long tons
32, 174
At furnaces
thous of long tons
26, 280
On Lake Erie'docks.thous. of long tons..
5,894
Pig-iron production:
Total, U. S
thous of long tons
3,200
Merchant furnaces
thous. of long tons. .
776
Canada
thous of long tons
59
Furnaces in blast, end of month:
Furnaces
number
213
Capacity
long tons per day
102, 085
Per cent of total
per cent
57.7
Ohio gray-iron foundries:
MeltingsActual
long tons
20, 846
Normal
long tons
23, 791
Stocks, end of month- _per cent of normal-Receipts
per cent of normal
Malleable castings:
Production
short tons
Shipments
short tons
New orders
short tons
Wholesale prices:
Foundry, No. 2,
northern
dolls per long ton
Basic (valley furnace) --dolls, per long ton..
Composite pig iron
dolls, per long ton_.

+6.0
+7.3
+1.0 1

Cast-Iron Boiiers and Badiators
Round boilers:
Production
thous of Ibs
Shipments
thous of Ibs
New orders
thous. of lbs_.
Stocks, end of month
thous. of lbs_.
Square boilers:
Production
thous of Ibs
Shipments
thous. of Ibs
New orders
thous of Ibs
Stocks end of month
thous of Ibs
Radiators:
Production thous sq ft heating surface
Shipments.-. thous. sq. ft. heating surface. .
New orders. -thous. sq. ft. heating surface- .
Stocks, end of
month
thous. sq. ft. heating surface. .

i

Crude Steel
Steel ingots, production:
United States, total
Ratio to capacity
C anada




3,807
82
59

4,150 ! +9.6
89 +10.8
69 i +1.7

* Revised.

-8.3
-7.9
-14.5

44, 140 |

751

34

TREND OF BUSINESS MOVEMENTS—Continued

1926
The cumulatives shown are through December except where otherwise noted.
Earlier data for items shown here may
be found on pages 26 to 134 of the February, 1927, "Survey"

1927

1926

PER CENT INCREASE (+) OR
DECREASE (— )

August

Septem- October
ber
!

November

December

January

January

Jan.,
1927,

Jan.,
1927,

Dec.,
1926

Jan.,
1926

from

CUMULATIVE TOTAL
FROM JANUARY 1
THROUGH DECEMBER 31

Perct
increase
(+)
or decrease
(-)
cumulative
1926
from
1925

1925

1926

165, 188

...i i
199, 004 +20.5

from

IEON AND STEEL-Continued
Crude Steel— Continued
U. S. Steel Corporation:
'"
Unfilled orders,
end of month
thous. of long tons..
3,542
3,594
3,684
3,807
3,961
3,800
4,883
Earnings
thous of dolls
17, 244
17, 584
18, 992
18, 145
16, 365
13, 810
Steel castings:
New orders —
Total _ _ _. _
short tons
2 67, 634 2 66, 904 2 74, 198 2 70, 815 285,747
101, 142
108, 162
Ratio to capacity
per cent
51
50
56
53
76
65
82
Railroad specialties
short tons
22, 998
22,031 2 27, 827
28, 179 2 38, 111
48, 717
51, 574
Miscellaneous
short tons
2 44, 636 2 44, 873
46, 371 2 42, 736
47, 636
52, 425 , 56, 588
ProductionTotal
short tons
2 80, 947 2 79, 036 2 79, 342 2 86, 285 2 81, 804
84, 050
93, 041
Ratio to capacity
_ _ . per cent-61
60
62
60
65
63
70
26, 088 2 22, 837
25, 737 2 24, 421 2 28, 699
37, 321
Railroad specialties
short tons..
32, 628
Miscellaneous
short tons
2 54, 859
61, 864
56, 199 2 53, 605
53, 105
51, 422
55, 720
Sheets, blue, black, galvanized, and full finished:
ProductionTotal
short tons-- 293, 703
314, 598
307, 459
278, 455 238, 345
256, 856 328, 643
Ratio to capacity
per cent
92.0
96.2
101.4
86.9
72.3
104.4
83.5
Stocks, end of month147, 862
141, 206
Total
short tons
134, 422
165, 114
160, 193
161, 661 165, 966
Unsold
short tons
44, 988
40, 929
49, 182
44, 974
34, 511
40, 758
55, 295
Shipments
-short tons_. 281, 602
219, 489
302, 198 301, 474
262, 797
239, 019 333, 485
New orders
short tons
212,
029
240,
862
283, 055 448, 147
185, 235
261, 357 253, 323
Unfilled orders, end of month short tons
521, 837
581, 993
529, 940
731, 977
500, 120
526, 550
609, 203
Steel barrels:
Production
barrels-- 523, 037
539, 805
529, 137 468, 722
511, 118 493, 363 510, 489
Ratio to capacity..
per cent
41.0
46.0
50.0
43.6
48.1
43.8
48.0
Shipments
barrels. . 511, 542
508, 548 497, 031 505, 383 546, 392
525, 518 469, 432
Stocks, end of month
barrels..
50, 369
52, 939
54, 377
47, 790
49, 271
51, 409
45, 390
Unfilled orders, end of month
barrels 1, 170, 998 1, 288, 431 1, 149, 325 1, 732, 007 1, 845, 987 1, 788, 194 1, 765, 846
Track work, production
short tons13, 004
13, 308
14, 016
11, 093
13, 010
15, 247
Wholesale prices:
Steel billets, Bessemer -dolls, per long ton_.
35.00
35.00
35.00
35.00
35.00
35.00
35.00
Iron and steel
dolls per long ton
38.02
38.26
37.61
37.70
38.43
37.76
39.18
Composite steel
dolls, per 100 lbs._
2.64
2.62
2.64
2.65
2.65
2.65
2.65
Structural steel beams. -.dolls, per 100 lbs__
2.00
1.95
2.00
2.00
2.00
2.00
1.95
Steel sheets, Youngstown
district
dolls, per 100 Ibs .
3.25
3.25
3.25
*3. 10

-4.1 -22.2

|
+27.8

+10.1

-6.5
-7.3
-5.5
-7.4

+2.7
+1.6
+13.7
-3.2

-9.7
-10.0
-12.6
-7.7

+7.8
+15.5

-21.8
-20.0

+18.0
+16.9

+0.9
-8.6
+8.9
+8.5
-0.6

923, 446

990, 382

+7.2

385, 227
538, 219

382, 478
607,904

-0.7
+12.9

3,521,985

3,447,452 ;

-2.1

-2.6 !
-18.7
-28.3 3, 193, 872 3, 394, 017
+3.2 3, 279, 374 3, 196, 327
-13.6

-2.0 +12.9
-3.8 +9.8
-3.8 +11.9
+7.6 +13. 3
-3.1 +1.3

+6.3
-2.5

6, 046, 654

6, 588, 435

+9. 0

6, 052, 367

6, 586, 845

+8. 8

171, 394

178, 589

+4.2

0.0
-1.3
-1.1
0.0

0.0
-3.6
-1.1
+2.6

0.0

+4.8

-23.9
-23.9
-17.9
-17.9

-6.9
-6.9
-15.4
-15.4

2, 760, 660

2, 553, 540

-7.5

2, 796, 090

2, 849, 280

+1.9

+25.5
+32.4

+23.4

367, 114

479, 446

+30.6

99, 134

174, 857

+76.4

+8.6 +23.3
-18.8 -41.2

1, 762, 571
841, 664

2, 167, 048
927, 217

+22.9
+10.2

|

Steel Products
Structural steel, fabricated:
New orders (prorated)short tons__ 2 254, 400 2 187, 620 2 203, 520 2 193, 980
Ratio to capacity
per cent
80
59
64
61
Shipments (prorated)
_ .short tons 2 251, 220 2 254, 400 2251,220 * 222, 600
79
70
Ratio to capacity
per cent
80
79
Steel plate, fabricated, new orders:
Total __ __ _ _
short tons
48, 138
35, 589
42,007 2 59, 2897
Ratio to capacity
_
per cent
64
75
47
257
Oil-storage tanks
short tons__
21, 723
17, 038 2 23, 094 2 25, 949
Iron and steel:
Exports
long tons
171, 588
182. 071
172, 070
219, 830
Imports
long tons__
64, 722
58, 472
75, 248
68, 334
Steel furniture:
Business group —
Shipments.. __
thous. of dolls
2,343
2, 553
2,735
2,450
New orders
thous of dolls
2,299
2,603
2, 615
2,420
1,614
Unfilled orders, end mo.thous. of dolls. _
1,687
1,547
1, 638
ShelvingShipments
thous. of dolls
583
546
588
640
New orders .
thous. of dolls
575
611
708
596
Unfilled orders, end ino_thous. of dolls. .
662
745
731
790

2
2

225, 780
271
213, 060
267
2

171, 720 2 184, 440
54
58
174, 900 2 206, 700
55
65

27, 014
234
9, 286

33, 915
45
14, 216

27, 484
34
8,316

198, 189
51, 964

215, 235
42, 219

174, 585
71,838

2 2, 934
2 2, 802
2 1, 556

2,698
2,859
1,713

2,859
3,064
1,928

-8.0
+2.0
+10.1

-5.6
-6.7
-11.2

26, 828
27, 347

31, 429
31, 393

+17.1
+14.8

2622
2572
2
608

554
582
612

578
582
585

-10.9
+1.7
+0.7

-4.2
0.0
+4.6

6,678
6,950

7,337
7,380

; +6.2

2

+32. 4
+53.1 +70.9

+9.9

Machinery
Foundry equipment:
New orders
dollars
391,935
Shipments
dollars.. 384,924
Unfilled orders, end of month
dollars ; 422,148
Stokers, mechanical:
Shipments
number104
Shipments
horsepower _
38, 852
Machine tools:
New orders _
index number 1
167
Shipments
index number 1
130
Unfilled orders, end of mo.-index number-- ;
308
Vacuum cleaners, shipments
(quarterly) . _
number
'
Washing-machines, shipments:
Total
number
84, 912
Electric _ .
number
70, 592
Water softeners:
New orders
units
663
652
Shipments .
units
Stocks, end of month
units i
681
Water systems:
Shipments
units
7,578
Stocks, end of month... _ . _ _ .units .
4.267
1
Quarter ending Dec. 31, 1925.




414, 121
445, 377
501, 793

400, 464
377, 798
522, 273

396, 354
447, 189
524, 612

454, 536
405, 345
570, 608

652,334
542, 640
682, 896

127
44, 211

112
40, 780

85
27,606

72
34, 974

69
40, 467

72
36, 913

-4.2
+15. 7

-4.2
+9.6

194
157
363

195
193
350

175
184
340

134
193
278

123
138
248

145
166
319

-8.2
-28.5
-10.8

-15.2
-16.9
-22.3

320, 110

i 316, 936

+48.1

+1.0

93, 801
76, 308

89, 645
75, 459

81, 394
69, 654

82, 263
70, 340

68, 753
54, 557

662
632
599

669
634
804

574
583
620

506
500
620

7, 534
5. 581

7,463
7,802

216,148

4, 847
6,310
9,172
9,019
2 Re vised.

j

'

!

4,665,300
4, 362, 794

759
723
415
5, 627
5,144
4

December, 1925.

1,348
553, 333

5, 311, 935 +13.9
5, 234, 530 i +20.0

1,361
546,228 !

+1.0
-1.3

957, 850

1,065,430

+11.2

882, 069
732, 873

1, 029, 053
843, 685

+16. 7
+15. 1

35

TREND OF BUSINESS MOVEMENTS—Continued
1926

The cumulative* shown are through December except where otherwise noted.
Earlier data for items shown here may
be found on pages 26 to 134 of the February, 1927, "Survey"

1927

PER CENT INCREASE (+) OR
DECREASE (-)

1926

August

September

October

November

561
46,000
3,225

474
38, 578
3,173

464
39, 912
3, 333

448
29, 208
3,451

419
39, 409
2,517

1,947
1,919
3,606

1,468
1, 703
3,332

1,484
1,540
3,256

1,462
1,674
3,029

1,533
1,541
2,992

14
81
2

10
82
5

18
97
17

18
86
19

18
95
5

6
67
17

153
50, 659

127
48, 517

148
44, 334

132
2 43, 315

129
40, 270

78
44, 449

82
43, 659

4,254
39
78

3,115
43
30

3,239
40
32

4,330
52
79

3,512
51
63

3,029
42
64

363, 547
350, 923
12, 624

300, 160
239, 565
10, 595

226, 278
219, 504
6,774

143, 413
137, 361
6,052

208, 718
196, 973
11, 745

61, 257
46, 386
4,871

2 46, 985
2 42, 910
4,075

2 39, 430
2 36, 376
3, 054

2 30, 161
2 28, 461
1,700

27, 001
20, 038
6,963

20, 395
16, 348
4,047

27, 873
20, 562
7,311

6,471
4,483
1,988
8,514

7,546
5,439
2,107
12. 919

237, 931
81
138,360
118, 224

Decem- i January
ber

Jan.,
1927,
from
Dec.,
1926

Jan.,
1927,
from
Jan.,
1926

CUMULATIVE TOTAL
FROM JANUARY 1
THROUGH DECEMBER 31

Perct.
increase
(
ort>
decrease
(-)
cumulative
1926
from
1925

1925

1926

507
50, 269
3,167

6,988
706, 141
36, 847

6,099
544, 884
38, 778

-12.7
-22.8
+5.2

1,331
1, 193
2,910

17, 419
16, 733

18, 988
18, 625

+9.0
+11.3

21 -66.7 -71.4
86 -29.5 -22.1
4 +240. 0 +325. 0

192
1,120
128

190
1,127
98

-1.0
+0.6
-23.4

-39.5
-HO. 4

-4.9
+1.8

1,529
618, 969

1,486
603, 862

-2.8
-2.4

3,138
63
34

-13.8
-17.6
+1.6

-3.5
-33.3
+88.2

46, 452
729
753

44, 751
631
613

-3.7
-13.4
-18.6

284, 703
272, 922
11,781

+45. 5
+43.4
+94.1

-26.7
-27.8
-0.3

3, 835, 801
3, 696, 490
139, 311

3, 929, 546
3, 765, 059
164, 487

+2.4
+1.9
+18.1

40, 788
37, 157
3,631

33, 517 +35.2
29, 819 +30.6
3,698 +113.6

+21.7
+24.6
-1.8

498, 470
476, 396
22, 074

535, 197
494, 568
40, 629

+7.4
+3.8
+84.1

25, 663
21, 805
3,858

29, 835
22, 122
7,713

26, 312
21,171
5,141

+16.3
+1.5
+99.9

+13.4
+4.5
+50.0

302, 937
244, 301
58, 636

305, 791
238, 390
67, 401

+0.9
-2.4
+14.9

8,793
6,435
2, 358
14, 242

5,620
4,836
784
13, 641

7,466
5,296
2,170

5,159 +32.8
+9.5
3,760
1.399 +176. 8
17, 234

+44.7
+40.9
+55.1

74, 187
58, 005
16, 182
183, 862

74, 324
53, 628
20, 696
174, 920

+0.2
-7.5
+27. 9
-4.9

256, 631

171,915

170, 567

88, 729

81
115, 849
99, 073

84
78, 550
101, 729

89
44, 130
52, 729

161
120
126
165
6,925

125
116
109
145
6,018

79
94
83
119
7,016

258, 431
9,579
55, 224
50, 818
141, 841
969

238, 328
9,160
49, 288
48, 237
130, 650
993

161, 013
6,650
31, 632
33, 621
88, 430
680

130, 336
5,277
25,810
27, 423
71, 032
794

72, 627
80, 320

75,099
87, 012

74, 947
92, 768

? 72, 396
286,907

76, 684
89, 646

71, 026
78, 576

+5.9
+3.2

+8.0
+14.1

842, 117
947, 333

872, 509
984, 166

+3.6
+3.9

123, 390
132, 013
78, 459
40, 753

123, 120
136, 600
73, 939
36, 563

126, 424
126, 322
148, 321 2 142, 300
74, 207
61, 942
46,471
46, 932

133, 110
142, 140
76, 499
43, 879

113, 974
129, 518
67, 829
33, 648

+5.3
-0.1
+23.5
-6.5

+16.8
+9.7
+12.8
+30.4

1, 114, 182
1, 540, 875
831, 171
530, 351

1, 440, 454
1, 600, 491
902, 174
470, 769

+29.3
+3.9
+8.5
-11.2

70, 137
263, 935
.1406

68, 233
267, 866
. 1386

73,856
85, 501
277,479 2 273, 135
.1358
.1330

93, 982
275, 434
.1299

81, 686
251, 096
.1382

+9.9
+0.8
-2.3

+15.1
+9.7
-6.0

January

IRON AND STEEL— Continued
Machinery— Continued
Domestic pumps, shipments:
Total_
_ . _thous. of dolls
Pitcher, hand, etc
number-Power pumps.
number
Steam, power, and centrifugal pumps:
New orders
_ .thous. of dolls__
.Shipments
thous. of dollsUnfilled orders, end mo
thous. of dolls
Electric industrial trucks and tractors:
Shipments, domesticTractors _ _
number of vehicles
All other types
number of vehicles-Exports _ _
number of vehicles
Fire extinguishing equipment, shipments:
Motor vehicles
number-Hand types
_
number__
PATENTS ISSUED
Total, all classes—
A gricultural implements
Internal-combustion engines

number..
number
number

AUTOMOBILES
Production:
Passenger carsTotal
number of cars 2 393, 064
United States
number of cars.. 2 380, 282
Canada.
.number of cars
12, 782
TrucksTotal
. __
.number of cars
47, 836
United States
number of cars
45, 333
Canada _ .
number of cars
2,503
Exports:
Assembled—
Total
number of cars
20, 272
Passenger cars
number of cars..
16, 130
Trucks..
number of cars..
4,142
From CanadaTotal
number of cars
3,045
Passenger cars
number of cars
2,448
Trucks.
.
number of cars
597
Foreign assemblies
number of cars
11, 647
Sales, passenger cars and motor
fc- cvcles .
_
thous. of dolls 160, 767
Shipments (General Motors Co.):
Proportion closed cars
.per cent..
81
To dealers
number of cars
134, 231
To users
.number of cars.. 122, 305
Accessories and parts:
Shipments —
157
Original equipment..index nos
Replacement parts
index nos _
120
Accessories
index nos
131
Service parts
.
index nos
166
Exports
thous. of dolls..
6,319
New passenger-car registrations:
Total
number of cars.. 303, 757
Highest price group
number of cars..
10, 600
Second highest group
number of cars..
63,703
Third highest group
number of cars..
59, 355
Lowest price group
..number of cars.. 168, 920
Miscellaneous.
number of cars
1,179

95
109
64
112 1
6,038 1

99, 367
81, 010
132
107
79
140
5,134

-48.0

-52.8

2, 239, 700

2, 608, 212

+16.5

84
76, 332 +125. 2
53, 698 +53. 6

+30.2
+50.9

835, 902
827, 056

1, 234, 850
1, 215, 826

+47.7
+47.0

+38. 9
-1.8
+23.4
+25.0
-15.0

-3.6
+3.9
-37.8
+21.7
-28.3

84, 190

90, 716

+7.8

2, 943, 774 3, 152, 123
85, 353
120, 126
567, 545
618, 145
475, 026
657, 588
1,770,371 1, 741, 643
14, 621
45, 479

+7.1
+40.7
+8.9
+38.4
-1.6
-67.9

188, 060

137
103
127
115
7, 161

192, 994
6,417
36, 971
32,61£
115, 643
1, 351

NONFERROUS METALS
Copper
Production:
72, 014
Mines
short tons
Smelter
short tons
77, 613
Refined (North and South
America)
short tons
128, 925
Worl d pro duction, blister . .
short tons . . 128, 568
Domestic shipments, refined
short tons..
84, 034
Exports
. short tons .
37, 741
Stocks (North and South America) :
Refined
. short tons
66, 658
Blister
_
.
.. short tons
260, 186
.1417
Wholesale price, electrolytic
dolls, per lb__

|

Copper Products
Plumbing fixtures:
New orders, tubularQuantity.
Value...
_
_
Wholesale price, 6 pieces
Brass faucets:
New orders _
number
Shipments
number
» Revised.




176, 794
214,370
106. 23

201, 998
204, 256
106. 22

155, 069
175,454
106.19

172, 394
171, 963
106. 02

152, 616
161, 629
105.74

of pieces . _ 186, 751
of pieces. . 226, 872

261, 055
277, 647

253, 604
311,883

216, 117
246, 041

137, 634
142, 661

number
.dollars..
dollars..

371, 125
248, 094
105. 46

376, 875 +143. 2
310, 120 +53.5
109. 79
-0.3

551.408
| 455,876

-1.5
-20.0
-3.9

2, 910, 425
2, 756, 338

2,411,077
2,449,301

-17.2
-11.1

4,630,696
5, 053, 390

3,099,423
3, 314, 830

-33.1
-34.4

36

TREND OF BUSINESS MOVEMENTS—Continued
1

1926

The cumulatives shown are through December except where otherwise noted.
Earlier data for items shown here may
be found on pages 26 to 134 of the February, 1927, "Survey"

1927

1926

Perct.
increase
(+)
or decrease
(-)
cumu
lative
1926
from
1925

CUMULATIVE TOTAL
FROM JANUARY 1
THROUGH DECEMBER 31

PER CENT INCREASE (+) OR
DECREASE ( — )

October

November

December

January

January

Jan.,
1927,
from
Dec.,
1926

Jan.,
1927,
from
Jan.,
1926

1925

1926

5,835

5,955

6,140

6,505

6,295

7,340

-3.2

-14.2

76, 455

78, 050

+2.1

15,257
2,304
6,882
.6867

16, 326
1,909
6,384
.6664

15, 342
3,304
7,966
.6479

16, 787
2,104
7,031
.6142

-6.0
+73.1
+24.8
-2.8

-8.6
+57.0
+13.3
+5.5

76, 627

77, 090

+0.6

590, 928

638, 533

+8.1

August

September

5,870

NONFEREOUS METALS-Continued
Tin

Deliveries (consumption)
Stocks, end of month:
World visible supply.
United States.
Imports. __ .
Wholesale price, pig tin

long tons
long tons
long tons _
_ long tons..
dolls, per Ib

13, 352
1,829
5,132
.6388

14, 379
1,854
6,092
.6654

14, 841
1,554
5,126
.6823

Retorts in operation, end of month. _. number _.
Production
_
.short tons..
Stocks, end of month
short tons
Ore, Joplin district:
Shipments..
short tons
Stocks, mines, end of month. __short tons..
Price, slab, prime western
dolls, perlb..

84,584
51, 761
18,164

87, 028
52, 144
15, 699

87, 028
54, 979
15,909

88,076
55,062
14,481

88, 668
56, 884
21, 887

88,908
56, 898
29, 912

96, 229
56, 389
14,300

-7.6
+0.3
+0.9
0.0
+36.7 +109. 2

67, 736
19, 250
.0738

69, 547
19, 103
.0741

75, 786
26, 287
.0730

70,045
22, 482
.0720

69, 699
19, 158
.0702

69, 853
25, 515
.0666

76, 569
25, 201
.0830

+0.2
+33.2
-5.1

-8.8
+1.2
-19.8

813,204

840, 867

+3.4

47, 240

53,389

51, 527

» 53, 878

52, 697

50,796

-2.2

+3.7

572, 345

597, 735

+4.4

12,879
62, 817
47, 755
113, 109
.0879

14, 965
76,317
48,881
118,311
.0840

8,641
61,460
47, 981
120, 054
.0801

10, 997
70, 989
48, 902
130, 086
.0786

10, 812
64, 768

-1.7
-8.8

129, 289
811,030
552, 831

130, 378
786, 381
570, 523

+0.8
-3.0
•+3.2

.0758

11, 976
71, 645
47, 663
104, 663
.0926

-9.7
-9.6

-3.6

-18.1

4,976
1,220
3,756

5,153
1,444
3,708

+24.0
+11.3
+28.8

-3.4
-15.5
+1.3

62, 406
14, 12548,280

59, 722
,15,380
44,342

-4.3
+8.9
-8.2

Zinc

Lead
49, 017
Production
short tons
Ore shipments:
Joplin district
short tons.. 10, 505
59, 303
Utah
. __
short tons
47, 566
Receipts of lead in U. S. ore
short tons
Stocks, U. S. and Mexico, end mo ..short tons.. 111,429
.0891
Price, pig, desilverized (New York) dolls, perlb..
Babbitt Metal

Consumption:
Total apparent
__
Direct by producers
Sale to consumers _

thous. of Ibs
thous. of lbs__
thous. of Ibs

4,987
1,354
3,633

5,337
1,482
3,855

4,868
1,339
3,529

4,358
1,147
3,211

4,013
1,096
2,917

short tons
short tons

166
2,947

488
2,959

419
2,538

514
2,667

537
2,650

386
3,433

8,362

5,498

-34.3

short tons

495
3,002

560
2,648

697
2,382

885
2,188

866
1,798

258
5,950

11, 050

6,221

-43. 7

dozens
dozens

127, 366
134, 323

135, 572
140, 491

143, 038
140, 778

114, 844
88,520

118,525
101, 356

148, 537
150, 430

dozens
dozens

44, 700
44, 911

42, 219
43, 060

38,847
41, 295

32, 865
31,321

31, 393
22, 025

38, 526
43, 441

rinmhfir

114, 748
139, 964
113, 835

102, 333
149, 555
97, 178

98, 237
158, 764
92, 008

80, 271
161,391
84,209

68, 133
177, 331
80, 023

83, 177
182, 363
86, 802

90, 503
130, 056
103, 500

+22.1
+2.8
+8,5

-8.1
+40.2
-16.1

122, 523
219, 086
119, 924

130, 131
210, 291
115, 797

117, 122
208, 406
109, 582

86, 552
225, 645
86, 962

74,005
265, 400
92, 759

130, 019
256,062
106, 853

114, 198
232, 117
125, 168

+75.7
-3.5
+13.2

+13.9
+10.3
-14.6

122, 294
273, 590
127, 758

125, 044
257,240
115, 973

120, 262
246, 816
110, 784

91, 699
274, 422
94, 740

78, 524
306, 431
97,081

99, 302
296,028
104, 910

115, 017
253, 779
123, 656

+26.5
-3.4
+8.1

51, 559
145, 143
55, 657

55, 412
137, 971
51,483

52, 018
135, 600
49, 027

40, 247
137, 926
42, 243

35, 659
144, 564
44, 914

41, 140
129, 066
43, 929

51, 922
158, 717
58, 729

61, 991
155, 423

48, 278
143, 670

43, 556
105, 664

38, 801
96, 966

49,804
127, 104

47,343
117,574

77

80

86

74

85

79

Band Instruments
Shipments:
419, 071
Total
dollars
Cup mouthpieces
dollars _ _ 172, 126
228,488
Saxophones _
dollars
Woodwind
_ .dollars. _ 18, 457

514, 799
238, 822
247, 940
28, 037

646, 065
24,328
367, 628
33, 109

634, 999
234, 605
371, 939
28, 455

Arsenic
Crude:
Production
Stocks, end of month
Refined:
Production
Stocks, end of month

short tons

Galvanized Sheet Metal Ware
Pails and tubs:
Production
Shipments
Other:
Production
Shipments
Baths:
Shipments

i
i

Enameled Ware

Stocks, end of month
number
New orders _
number
Lavatories:
Shipments
number
Stocks, end of month
number
New orders
number
Sinks:
Shipments
number
Stocks, end of month
number
New orders _
number
Miscellaneous sanitary ware:
Shipments
number _.
Stocks, end of month
number
New orders
number
Unfilled orders, end of month:
Baths
number
Small ware
number
Household ware:
Furnaces operating
per cent of total




1, 195, 142

-9.8

1,390,086

1, 242, 969

-16.6
-10.7

1, 528, 271

1,365,275

1, 580, 896

1, 380, 784

-12.7

-13.7
+16.6
-15.2

1, 550, 797

1, 363, 657

-12. 1

1, 600, 568

1,387,997

-13.3

+15.4
-10.7
-2.2

-20.8
-18.7
-25.2

747, 463

600, 038

-19.7

702, 422

628,362

-16.5

88, 388
200, 619

-4.9
-7.5

-46.4
-41.4

65

-7.1

+21.5

!

740, 786
223,926
489, 356
27,504 j

464, 916
157, 097
289, 254
18, 565

7,051,065
2, 629, 816
4, 209, 804
231,444

6,531,918
2,419,475
3, 831, 688
280, 755

-7.4
-8.0
-9.u
+21.3

I

Electrical Equipment
Electrical porcelain, shipments:
Total
Standard
Special
High tension
Laminated phenolic products,
shipments. _.
Motors (direct current):
New orders
Billings (shiDments)-..
2
Revised.

1, 325, 517

dollars
dollars
dollars
dollars

284, 474
86, 986
145, 616
51, 872

287, 361
97, 335
146, 974
43, 052

291, 992
101, 984
148, 970
41, 038

311, 529
90, 428
176, 583
44, 518

243, 839
71, 715
141, 789
30,335

273, 380
93, 811
134, 726
44, 843

3, 771, 797
1, 505, 362
1, 845, 352
421, 093

3, 424, 435 ! -9.2
1, 084, 446 | -28.0
1, 818, 030
—1.5
521, 959 1 +24.0

.dollars..

765, 810

829, 355 1, 032, 042

834, 884

576, 794

567, 748

8, 684, 309

7, 936, 298

dollars
dollars..

792, 613
876, 297

937, 913
745, 783

745, 629
897, 262

744, 424
907, 971

815, 977
934, 124

801, 036
837, 214

-8.6

37

TREND OF BUSINESS MOVEMENTS—Continued

1926

The cumulativess hown are through December except where otherwise noted.
Earlier data for items shown here may
be found on pages 26 to 134 of the February, 1927, "Survey"

1927

1926

PER CENT INCREASE (+) OR
DECREASE (— )

\
!

CUMULATIVE TOTAL
FROM JANUARY 1
THROUGH DECEMBER 31

October

November

December

January

January

Jan.,
1927,
from
Dec.,
1926

Jan.,
1927,
from
Jan.,
1926

1925

1926

262
134, 006
139, 522

305
152, 938
169, 024

-16.0
-14.8
-19.9

-14.1
-12.4
-17.5

3,736
2, 015, 145
1, 848, 878

3,605
1, 920, 194
1, 981, 063

520, 053
13, 135
15, 588

August

September

273
165, 773
150, 419

326
153, 632
173, 958

233
128, 137
169, 245

290
130, 257
139, 231

312
157, 329
174, 220

902
42
2,711
133, 813

913
47
2,682
145, 161

932
61
2,175
178, 993

790
48
2,643
157, 713

731
50
2,908
137, 486

54, 592
1, 708
4,188

59, 721
2 1, 818
4,605

57, 671
1,923
4,299

Perct.
increase
(
or+?
decrease
(-)
cumulative
1926
from
1925

NONFEEEOUS METALS— Continued
Electrical Equipment— Continued
Electric hoists:
New ordersQuantitv
Value./.
Shipments
Vulcanized fiber:
Domestic sales—
Total.
Hollowware
Consumption
Industrial reflectors, sales

!
number
dollars..
dollars

_.

-3.5
-4.7
+7.1

i
thous. of dolls
thous of dolls
thous. of Ibs
units

977
42
2,630

FUELS
Coal and Coke

Bituminous:
. ProductionUnited States
thous. of short tons..
Canada..
_.. thous. of short tons..
Exports...
thous. of long tons
Consumption—
By vessels
thous. of long tons
By electric power
plants
thous. of short tons
By railroads
thous of short tons
By coke plantsUnited States. thous. of short tons..
Canada
thous. of short tons..
Stocks held by
consumers
thous. of short tons
PricesMine average (spot) .dolls. per short ton..
Wholesale, Kanawha, f. o. b.
Cincinnati
dolls, per short ton
Retail, Chicago.. .dolls, per short ton..
Anthracite:
Production
thous. of short tons
Stocks, retailers
thous. of short tons..
Exports
thous. of long tons
PricesWholesale, chestnut,
New York.
dolls, per long ton
Retail, chestnut,
New York
dolls, per short ton
Coke:
Production, U. S.—
Beehive. .
thous. of short tons
By-product
_ -thous. of short tons
Production, Canada. _thous. of short tons..
Exports
thous of long tons
Price, furnace, Connellsville
_ .dolls, per short ton

46, 352
1,341
3,548

48, 976
1, 413
3,737

2

a

53, 662
1,231
993

-1.4

+6.0

-60.0

+73.2

718

376

330

-47.6

+13.9

4,343

6,905

+59.0

* 3, 846
9,424

3,801

3,723
9 155

-L2

+2.1

40, 030
97,429

41, 330
101,081

+3.2
+3.7

6,847
263

6,735
234

6,555
237

6,557
252

7,644
240

0.0
+6.3

-14.2
+5.0

74, 348
2,240

82, 236
2,904

+10.6
+29.6

61,817

85,001

+37.5

840
3,697
8,973

6.543
'250

2

43, 000

55,000

45, 000

2.00

2.15

2.70

3.19

2.54

2.30

2.18

-9.4

+5.5

3.39
8.32

3.64
8.91

3.74
9.06

4.39
10.15

4.39
10.34

3.89
9.85

3.49
9.48

-11.4
-4.7

+ 11.5
+3.9

8,444
1, 248
363

8,675

7, 446

7,528
1,432
294

6, 561

173

-12.8

395"
11.47

11.48

11.48

11.48

11.48

11. 49

(5)

14.50

14.54

14.50

14.50

14.50

14.50

(5)

8,226

2

578, 290 +11.2
16,459 +25.3
31, 516 +102. 2

841

739

3,481
8,115

2

1,720

3, 591
9,104

709
3,447
7,873
6,574
250

56, 882

459*

350~

220"

6~ "-26." 2~

2,~84l"

3,~599" ~+26.~7

+0.1
0.0
!

752
3, 749
166
75

820
3,654
166
64

867
3,814
174
84

860
3,743
154
67

780
3,706
157
61

787
3,700
176
59

1,381
3,804
156
82

3.14

3.49

4.00

4.89

3.91

3.88

7.31

-0.8

-46.9

69,043

69,483

72,061

71, 688

277, 208

277, 099

278, 077

278, 685
243, 141
35, 544

+0.9 -43.0
-0.2
-2.7
+ 12.1 +12.8
-3.3 -28.0

11, 355
39, 912
1,470
853

11, 659
44, 437
1,909
880

+2.7
+11.3
+29.9
+3.2

763,743

766, 504

+0.4

61, 824
739, 920
16, 559

60, 384
782, 561
18, 965

-2.3
+5.8
+14.5

259, 601

Petroleum
Crude petroleum:
Production
thous. of bbls..
66, 525
Stocks, end of monthTotal (comparable)
thous. of bbls.. 2 277, 837
Tank farms and pipe
lines
thous of bbls
240, 855
2
Refineries
thous of bbls
36, 982
2
2

32, 149
Light. .
thous of bbls
87, 772
Heavy
thous of bbls
Imports
thous. of bbls..
5,332
Consumption (run to stills) .thous. of bbls.. 2 67, 861
Oil wells completed
number
1,924
Price, Kansas-Oklahoma.... dolls, per bbl_.
2.050
Gasoline:
ProductionRaw (at refineries)
thous. of bbls.. 2 25, 942
Natural gas (at plants).. thous. of bbls.. 2 2, 664
Exports
thous. of bbls..
3,430
Consumption
thous. of bbls._ 22 26, 912
Stocks, end of month
thous. of bbls
34, 421
Price, motor, New York
dolls per gal
.210
Retail distribution, 21 States.thous. of gals.. 2 334, 163
Kerosene oil:
Production
...thous. of bbls.. 22 5, 162
Consumption
thous. of bbls..
2, 731
Stocks at refineries, end rno. thous. of bbls.. 2 8, 196
Price, 150° water white
dolls, per gal..
.109
Retail distribution, 13 States thous. of gals
35, 451
Gas and fuel oil:
Production
..
thous of bbls
2 31, 154
Consumption—
By vessels
thous. of bbls..
4,125
By electric power plants.thous. of bbls__
760
By railroads
thous. of bbls..
4,084
Stocks at refineries, end mo. thous. of bbls..
26,500
Price, Okla,, 24-26, refineries. dolls, per bbl__
1.355
2 Revised.




65, 300
2

277, 947

2

240, 365
36, 843

2

2

240, 123
37, 824

2

241, 534
35, 565

242, 602
35, 475

2
2

30, 494
87, 353
4,350
2
66, 684
1,745
2.050

2
2

30, 390
87, 529
3,860
2
69, 199
1,957
2.050

2
2

30, 051
87, 440
5,043
2
67, 935
1,738
1.750

2
2

2

2

2

2

25, 360
2, 657
3,846
2
22,
929
2
33, 257
.210
2
316, 255
2

26,
337
2
2,907
2,687
2
23, 973
2
33, 712
.210
349, 660
5, 126
3, 235
8,238
.105
31, 486

5, 207
3, 419
8, 162
.116
34,021

2 30, 698
4,040
915
4,211
2
27, 151
1.425

2

32, 444
4,330
2913
4,543
26, 376
1.356

2

59, 672

-0.5

+20.1

291, 400

-0.2

-4.4

260, 619
30, 781

+0.2
+0.2

-6.7
+15. 5

30, 861
87, 270
4,988
69, 820
1,556
1.750

31,017
87, 971
4,514
69, 948
1,385
1.750

2
2

44, 197
86, 614
4,688
2
61, 352
1,164
1.550

+0.5
+0.8
-9.5
+0.2
-11.0
0.0

-29.8
+1.6
-3.7
+14.0
+19.0
+12.9

27, 498
3,100
3,325
2
21, 419
39, 023
.210
314,' 667

27, 960
3,145
3,425
17, 888
46, 058
.210

2

+1.7
+1.5
+3.0
-16.5
-18.0
0.0

+20.5
+24.6
+4.5
+1.7
+10.9
+23.5

2
2
2

5, 357
3, 592
8, 060
.093
27, 924

5,399
2 3, 037
8,575
.093
26, 791

5,113
3,882
8,190
.094

25,122
-5.3
23,521 +27.8
26,851 ! -4.5
.090
+1.1
32,098

-0.2
+10.3
+19.5
+4.4

59, 689
39, 969

61, 768
38,329

400,120

385, 507

-3.7

31, 624

33, 376

32, 936

-1.3

+13.6

364,991

365, 195

+0.1

3,952
2959
4,318
26, 859
1. 305

4,065
2
801
4,371
24,898
1.275

-3.1
1 -2.2
I
23, 195
1 -6.8
1.255
i -1.6
6
No quotation.

+5.2
-24.7

42,827
10, 246
49,341

26, 245
2,967
3,779
2
20,
618
2
35, 905
.210
327, 411

2
2

2
2
2

2

3,940
783

23, 208
2,524
3, 278
2
17,
582
2
41, 524
.170
243, 929

228,981
3,746
1,026
4,301
23,266
1.250

-0.3
+0.4

299, 734

+15.5

30,842
42,466
223, 865 _ _ 262, 165

+37.7
+17.1

3, 257, 505 3, 621, 240

+11.2

46, 659
9,389
49, 260 i
i

+3.5
-4.1

+8.9
-8.4
-0.2

38

TREND OF BUSINESS MOVEMENTS—Continued
1926

The cumulatives shown are through December except where otherwise noted.
Earlier data for items shown here may
be found on pages 26 to 134 of the February, 1927, "Survey"

1926

PER CENT INCREASE (+) OR
DECREASE ( — )

January

Jan., I Jan.,
1927, ! 1927,
from
from
Dec.,
Jan.,
1926 : 1926

1937

CUMULATIVE TOTAL
FROM JANUARY 1
THROUGH DECEMBER 31
I

September

October

November

December

January

2,645
2,019
7, 149
.240

2,768
1,778
7,437
.240

2,724
1,722
7,620
.240

2,699
1,827
7,576
.240

2,570
1,496
7,867
.240

309
189

323
188

216
167

214
193

95
288

88
287

91
286

49,228
159, 779

56, Oil
167, 925

32, 359
5,079
12,345
6,917
6,472

29,797
3,822
11,537
6,713
5,634

282, 933
219, 193
43, 483
20,257

August

FUELS— C ontinued
Petroleu m—C ontinued
Lubricating oil:
Production
- thous. of bbls.. 22 2, 648
' Consumption
-thous. of bbls..
2, 092
Stocks at refineries, end mo -thous. of bbls__
7,226
Price, paraffin, 903 gravity... dolls, per gal..
.240
Asphalt:
306
Production
thous. of short tons..
Stocks, end of month. thous. of short tons..
200
Coke:
89
Production
thous. of short tons..
Stocks, end of month. thous. of short tons..
278
Wax:
Production...
thous. of Ibs.. » 54, 441
Stocks, end of month.
thous. of lbs_. 165, 065

2
2

1925

1926

Peret.
increase
(+)
or decrease
(-)
cumulative
1926
from
1925

2, 648
1,632
7,544
.240

-4.8
-18.1
+3.8
0.0

-2.9
-8.3
+4.3
0.0

31, 055
20, 581

32, 293
22, 565

+4.0
+9.6

191
215

162
175

-10.7
+11.4

+17.9
+22.9

2,677

2,922

+9.2

93
291

93
287

74
231

0.0
-1.4

+25.7
+24.2

991

995

+0.4

54, 678
177,054

55, 950
185,331

54, 114
192,835

53, 015
122, 773

-3.3
+4.0

+2.1
+57.1

590, 577

645, 790

+9.3

29,125
4,642
12, 572
6,028
3,980

22,929
3,447
8,903
5,324
3,475

23,352
3,133
9,083
5,617
3,522

26, 110
2,296
12,357
5,791
3,763

+11.8 -15.6
-26.7 -9.7
+36.0 -4.7
+3.1 -22.4
+6.8 -35.6

362,076
28,750
166, 670
81, 686
61, 526

368,443
45, 166
149, 759
87, 517
59,309

+1.8
+57.1
-10.1
+7.1
-3.6

284,326
222, 234
41, 561
20,531

282, 936
222, 556
40, 735
19, 645

281, 620
221, 880
40, 747
18,993

265, 932
210, 772
36,384
18, 776

.149
.178

.152
.178

.161
.178

.153
.168

.151
.167

.155
.169

.150
.193

1,183
22,308
67,313
100, 217
19, 221

1,152
21,978
69,090
98,090
23,488

1,226
23,681
71,678
100, 085
24,738

1,170
22, 748
67,979
88,777
26, 502

1, 256
24,199
75,297
80,801
17, 784

1,175
63,957
19, 981

1,057
20, 096
67, 425
112,352
24, 268

-20.8 -43.1
+12.4 -17.7

14,879
269, 170
760,885
1, 243, 794
391,992

13, 615
262,305
836, 176
1, 204, 183
265, 715

-8.5
-2.6
+9.9
-3.2
-32.2

232, 545

223, 165

207, 921

188, 261

160, 767

142, 412

114, 530

-11.4

+24.3

80,313
155, 178

81,721
151, 905

82, 261
147,457

82,371
149, 048

84,713
149,900

75,779
155, 660

90, 660
289, 218

85, 819
278, 719

80,491
274,918

76,397
277, 072

71, 855
274, 762

115, 615
298, 189

-14.4

-33.2

19, 394

13, 522

+4.8
-1.9
+5.4
-2.9
+3.4 +14.6
+6.1 +19.5

136, 698
93,222
36,988
6,488

139, 285
103, 088
31, 226
8,190

-30.3
+1.9
+10.6
-15.6
+26.2

2

HIDES AND LEATHER
Hides
Imports:
Total hides and skins
thous. of Ibs, .
Calfskins
thous. of Ibs..
Cattle hides
thous. of lbs._
Qoatskins
thous. of lbs_.
Sheepskins
thous. of lbs._
Stocks, end of month:
Total hides and skins
thous. of Ibs..
Cattle hides
thous. of lbs._
Calf and kip skins
thous. of lbs_.
Sheep and lamb skins
thous. of lbs._
Prices:
Green salted, packers' heavy native
steers
dolls, perlb..
Calfskins, country No. 1
dolls, per lb_.
Leather
Production:
Sole leather. -thous. of backs, bends, sides..
Finished sole and belting
thous. of Ibs..
Finished upper
thous. of sq. ft._
Oak and union harness
stuffed sides.
Skivers
..
doz..
Unfilled orders, end of month:
Oak and union harness
..sides..
Stocks in process of tanning, end of month:
Sole and belting
thous. of Ibs. _
Upper
thous. of sq. ft. .
Stocks, end of month:
Sole and belting
..thous. of lbs__
Upper
thous. of sq. ft..
Exports:
Sole
thous. of lbs._
Upper—
Total
thous. of sq. ft..
Cattle and calf
thous. of sq. ft..
Patent
.thous. of sq. ft_.
Sheep
thous. of sq. ft..
Prices:
Sole, oak, scoured backs,
heavy, Boston
..dolls, perlb..
Chrome calf, "B" grades ..dolls, per sq. ft._

2

30,937
2,544
12,969
7,465
5,839

296, 046
245,820
34, 046
16, 180

+2.6
+1.2

+3.3
-12.4

-6.4 +11.2

1,152

1,180

879

635

839

718

1,075

9,516
7,576
2
1, 534
827

11,348
8,666
'2,377
707

11, 262
8,787
2
3, 126
708

11, 867
7,941
2
3, 842
835

12,504
9,143
'3,040
607

12,264
8,875
2
3, 144
644

11, 705
8,422
2,744
539

.41
.45

.43
.45

.43
.45

.43
.45

.43
.45

.43
.45

.46
.46

0.0
0.0

-6.5
-2.2

371, 597
625

352, 255
593

287,351
495

285,847
471

298,764
500

370, 678
639

+4.5
+6.2

-19.4
-21.8

4,369,840
7,506

4, 209, 320
7,149

31, 673
426

31, 662
407

26, 758
546

25,415
498

491

23,874
470

........

~~+4.Y

323, 552
6,604

324, 513
5,707

Leathcr Products
Belting shipments:
Quantity
pounds.. 396,991
672
Value
thous. of dolls..
Shoes:
Production
. .thous. of pairs. _ 29,646
Exports
thous. of pairs..
357
Wholesale pricesMen's black calf,
blucher, Mass
dolls, per pair-6.40
Men's dress welt, tan
calf, St. Louis
dolls, per pair..
4.85
Women's black kid, dress
welt, lace, oxford z dolls, per pair..
4.00
Qloves cut:
Total
... dozen pairs . 224,583
Dress and streetImported leather
dozen pairs. . 56,224
Domestic leather
dozen pairs.. 34, 590
Work gloves
. _
dozen pairs. . 133, 769

6.40

6.40

6.40

6.40

6.40

6.40

0.0

0.0

4.85

4.85

4.85

4.85

4.85

5.00

0.0

-3.0

4.00

4.15

0.0

-3.6

4.00

4.00

4.00

4.00

218, 191

229,798

196, 060

176, 605

200,308

2, 406, 430

2,496,464

+3.7

56,406
33,905
127,880

56, 087
34,837
138,874

51,605
31,046
113, 409

41, 673
26,920
108, 012

40,380
26, 482
133, 446

489,937
363, 926
1, 547, 676

603,996
393,890
1,498,567

+23.3
+8.2
-3.2

516,076
397, 232

614, 778
413,300

353,873
296, 986
552, 390

329, 742
281, 656
518,044

+19.1
+4.0
-6.8
-6.2
-6.2

RUBBER
Crude Rubber
World shipments, plantation
long tons.. 53,079
55, 363
58,401
Iinports (including latex)
long tons.. 27,399
37, 112
29,334
Consumption (quarterly):
86,290
Total
. ..
long tons. .
75, 142
For tires
long tons..
48, 168
43, 137
Consumption by tire mfrs — thous. of lbs_. 49,841
i Q u arter endin g Dec. 31, 1925.




2

-3.7
-4.8
+0.3
-13.6

8

52, 325
39, 155

57, 386
37,754

36,737

76,555
64,891
37, 117

43, 340

49,306
42,404
178,926
i 65, 084
44, 528
2

+14.8

+2.2

-11.3
-13.6

-3.0
-0.3

Re\rised.

39
TREND OF BUSINESS MOVEMENTS—Continued
1

1936

The cumulatives shown are through December except where otherwise noted.
Earlier data for items shown here may
be found on pages 26 to 134 of the February, 1927f "Survey"

1937

| 1926

PER CENT INCREASE (+) OR
DECREASE (— )

CUMULATIVE TOTAL
FROM JANUARY 1
THROUGH DECEMBER 31

Per ct.
increase
(+)
or decrease
(-)
cumulative
1926
from
1925

December

January January

Jan.,
1927,
from
Dec.,
1926

Jan.,
1927,
from
Jan.,
1926

.286

68, 876
58, 785
10, 101
50, 529
.256

2.68

i 48, 436
i 39, 298
i 9, 890
i 49, 800
.605

+17.0
+30. 3
-26.6
+26.9
+4.7

+42.2
+49.6
+2.1
+1.5 - _ _ -_
-55.7

3,827
7,438
3,318

3,243
7,798
2,708

3,512
7,842
3, 413

3,728
7,912
3, 525

3,541
7,460
2,142

+6.2
+0.9
+3.3

+5.3
+6.1
+64.6

45, 633

46, 102

+1.0

43,241

43,202 i

-0.1

5,693
11, 484
5, 755

4,656
11, 947
4,046

3,639
12, 453
2,984

3,958
12, 150
4,027

3,988
11, 954
4,373

5,107
10, 770
2, 728

+0.8
-1.6
+8.6

-21.9
+11.0
+60.3

61, 960

57, 465

-7.3

59, 556

52,935 ; -11.1

36
137
44

37
129
44

36
128
33

38
138
29

45
166
36

52
135
26

+18.4 -13.5
+20. 3 +23.0
+24.1 +38.5

620

480

616

428 1 -30.5

August

September

long tons
long tons..
long tons
long tons
dolls, per lb_.

.337

58, 883
45, 121
13, 762
39, 815
.340

.333

thousands
thousands
thousands

4,404
7,299
4,973

4,279
6,988
4, 452

.. thousands-thousands
thousands. .

5, 568
11, 696
7,114

thousands
thousands ..
thousands. .

38
147
45

October

No v e m
b e r '

1935

1926

RUBBER— Continued
Crude Rubber— Continued
Stocks, end of quarter:
Total
Manufacturers
Dealers
Afloat
Wholesale price, Para, N. Y

i
___j

Tires and Tubes
Pneumatic tires:
Production
Stocks end of month
Shipments domestic
Inner tubes:
Production
Stocks, end of month
Shipments, domestic
Solid tires:
Production
Stocks, end of month _ _
Shipments, domestic

-22.6

Other Rubber Products
Reclaimed rubber (quarterly) :
Production _
._ -long tons..
Stocks, end of quarter
long tons
Scrap rubber (quarterly) :
Stocks at reclaimers
-long tons..
Consumption by reclaimers
long tons..
Rubber-proofed fabrics:
ProductionTotal
thous. of yds_.
Auto fabrics
- --thous. of yds. .
Clothing fabrics.
thous. of yds_.
Rubber heels:
Production
thous of pairs
Shipments—
To shoe manufacturers.thous. of pairs. .
To repair trade
thous of pairs
Stocks end of month
thous. of pairs

40, 020
13, 758

44 989
18, 160

* 38, 840
i 8, 827

+12.4 +15.8
+32.0 +105. 7

123, 625

167, 942 i +35.8

66, 908
52, 068

65, 969
58, 410

1

-1.4
+12. 2

159, 080

216,297 ; +36. 0

86, 846
i 50, 256

-24.0
+16.2

|

2,940
913
1, 533

3,964
804
2, 652

4, 538
962
2,987

2, 910
772
1, 440

14, 490

16, 349

18, 513

16, 759

16, 574

9,607
7,911
49, 593

9, 785
9, 429
45, 483

9,777
9, 556
44, 105

9,091
6,377
42, 199

10, 510
4 448
39 133

1 395
426
596

1,813
533
814

i

PAPER AND PRINTING

r ~

23, 983
7,879
9,181

29, 333
8,367
14, 758

+22.3
+6.2
+60.7

+8.2
+6.9

i

Wood Pulp

Mechanical:
Production
short tons.. 123, 438
Consumption and shipments. _ .short tons.. 149, 520
Stocks end of month
short tons
198, 782
Imports
short tons
26, 759
Chemical:
Production
short tons . 221, 874
Consumption and shipments.. .short tons.. 223, 340
Stocks end of month
short tons
45, 566
Imports
.
short tons . 131, 769
Price sulphite
dolls per 100 Ibs
2.75
Newsprint Paper
Production:
United States
short tons..
Canada
short tons
Consumption by publishers
short tons _
Shipments:
United States
short tons
Canada..
_.
short tons_.
Imports _ _ _ _ _
short tons
Exports:
United States
short tons..
Canada
short tons _
Stocks, end of month:
At millsUnited States __ _
.short tons _
Canada
.
.. _ _ short tons
At publishers
_.
short tons
In transit to publishers
short tons _
Price, roll, f. o. b. mill
dolls, per 100 lbs_.

135, 003
147, 025
186, 760
31, 771

167, 597
162, 812
193, 040
39, 123

164, 278
156. 409
200, 932
26, 712

147, 288
148,165
195, 926
22, 556

146,312
151,214
195, 745
18, 378

152, 957
150, 115
196, 894
25,388

-0.7
+2.1
-0.1
-18.5

-4.3
+0.7
-0.6
-27.6

1, 709, 569
1, 722, 831

1,849,022
1,841,904

331, 880

302, 324

-8.9

218, 466
219, 788
44, 012
104, 964
2.75

235, 848
237, 560
42, 130
121, 806
2.75

227, 186
225, 202
43, 638
123, 582
2.75

219, 176
220, 398
41, 688
144, 425
2.75

227, 608
227, 254
37, 348
153, 584
2.75

217, 246
215, 490
40,542
125, 796
2.95

+3.8
+3.1
-10.4
+6.3
0.0

+4.8
+5.5
-7.9
+22.1
-6.8

2, 469, 418 2, 673, 224
2, 473, 762 2, 680, 740

+8.3
+8.4

1, 338, 240

1, 425, 709

+6.5

139, 259
162, 545
151, 144

136, 167
161, 387
163, 089

143, 148
168,500
186, 860

140,427
164, 798
183, 368

135, 069
163, 717
182, 469

135, 755 * 140, 003
139,688
161, 724
158, 419

+0.5
-1.2

-3.0
+15.8

1, 530, 318
1, 522, 217
1, 786, 758

1, 678, 646
1, 877, 737
2, 001, 357

+9.7
+23.4
+12.0

136, 564
160, 031
161, 063

137, 259
162, 740
139, 720

146, 411
168, 821
172, 603

141,042
167, 135
169, 577

136, 501
161, 922
170, 159

131, 333 ' 138, 964
158, 866
136, 498
166, 102
126, 428

-3.8
-1.9
-2.4

-5.5
+16. 4
+31.4

1,534,345
1, 525, 150
1, 448, 245

1,679,147
1, 874, 746
1, 851, 339

+9.4
+22.9
+27.8

1,206
149, 935

1,413
143, 524

1,403
1,256
159, 509 1 153, 729

902
156, 408

1,360
142, 329

2,489
125, 999

+50.8
-9.0

-45.4
+13.0

22, 739
1, 401, 655

19, 321
1, 731, 986

-15.0
+23. 6

19, 098
15, 624
165,229
36, 316
3.50

18, 026
14, 684
170, 543
36,863
3.50

14,633
14, 942
161,917
43,359
3.50

13, 592
12, 571
180,663
37, 399
3.50

12, 030
14, 345
187, 272
41,560
3.50

15, 968
17, 255

+32.7
+20.3

-2.4
+18.2

3.30

» 16, 356
14, 602
125, 872
34, 398
3.50

-5.7

-5.7

737
174

634
96

722
132

628
113

+13.9
+37.5

+15.0
+16.8

8,001
1,574

8,168
1,646

+2.1
+4.6

11, 091
12, 386
102

10, 244
12, 544
106

12, 919
11, 178

11, 789 +26.1
11, 108 -10.9
96
2
Revised.

+9.6
+0.6

143, 895
142, 987

142, 957
143,602

-0.7
+0.4

Printing
Book publi cation :
American manufacture
no. of titles..
587
805
920
Imported
no. of titles..
135
187
135
Sales books:
New orders
_
thous. of books. . 13, 2S&
11,719
12,682
Shipments
thous. of books
12,096
12, 814
12, 625
Printing activity
weighted index number. .
94
»104
101
1
Quarter ending Dec. 31,1925.




40

TREND OF BUSINESS MOVEMENTS—Continued
1926
The cumulatives shown are through December except where otherwise noted.
Earlier data for items shown here may
be found on pages 26 to 134 of the February, 1927, "Survey"

1927

DECREASE (-)

August September

October

November

December

January

January

Jan.,
1927,

Jan.,
1927,

Dec.,
1926

Jan.,
1926

-12.7
95, 051
-30.2
-11.1 2, 275, 980
-7.4 2, 284, 474
-11.6
-11.8 ! 2,156,206
-10.5 I 2,279,177
+5.9

from

from

Per ct.
increase
(+)
or decrease
!(-)
cumulative
1926
from
1925

CUMULATIVE TOTAL
FROM JANUARY 1
THROUGH DECEMBER 31

PER CENT INCREASE (+) OR

1926

i

1925

1926

PAPER AND PRINTING— Continued
Box Board
Operation
.
thous. of inch hours. _
Operation
per ct. of capacity..
Production
tons_ .
New orders
__ _
..tons _
Unfilled orders, end of month
tons..
Consumption of waste paper
_.tons_.
Shipments
tons
Stocks, end of month.
tons..
Stocks of waste paper, end of month:
On hand
tons..
In transit and unshipped purchases. .tons. .

8,934
106.9
222, 245
207, 230
109, 245
216, 017
220, 790
57, 303

9,098
95.8
225, 103
215, 103
100, 765
206, 593
223, 581
59, 915

9,423
95.4
222,010
220, 710
92, 301
211, 444
229, 175
53, 150

2
8,250
6, 801
86.8
268.8
210, 746 22 164, 793
182, 750
185, 562
69, 086 285,955 i
194, 431 2 156, 488
205, 915 2 169, 547
57, 936 2 52, 905

6,826
71.8
171, 002
192, 366
104, 810
161,218
172, 752
50, 569

7,817
102.8
192, 436
207, 658
118, 531
182, 733
192, 990
47, 745

-17.6
+4.4
+3.8
+3.7
+21.9
+3.0
+1.9
-4.4

192, 635
56, 685

116, 329
70, 311

139, 111
58, 576

146, 287 2 162, 103
46, 175
34,662

157, 453
37, 747

168, 479
44, 477

-2.9
+8.9

-6.5
-15.1

110,829
67, 073

113,046
62, 378

115,307
61, 130

117,613
62, 353

119, 965
64, 847

110, 822
60, 894

+2.0
+4.0

+8.3
+6.5

90
89
85
9

92
94
85
8

89
88
7

87
92
82
5

' 95
91
87
7

87
87
88
9

+9.2
—1.1
+6.1

+40.0

+9.2
+4.6
-1.1
-22.2

96
95
88
12

99
100
99
13

98
93
93
13

96 !
93
88
12

104
97
93
10

100
104
98
13

+8.3
+4.3
+5.7
-16.7

+4.0
-6.7
-5.1
-23.1

90, 432
64,444

95,384
67,914

92, 125
67, 446

87. 533 '
66, 430

91, 777
68, 291

91,911
73, 751

+4.8
+2.8

36, 751
53,843

37, 756
51, 609

38, 113
52,950

37,213
53, 151

!

35, 148
53, 274

39, 435
48,663

103, 174
75, 215

109, 903
28, 908

105, 511
67, 746

95,986
65, 894

99, 198
66, 095

702, 456
338, 516

721, 249
318, 592

702, 229 2 638. 207
320, 809 2312,763 |

441, 593
348, 835
92, 758

441,372
354, 798
86, 574

476, 543
386, 104
90, 439

431,378
353,307
78, 071

82
83
79

81
83
76

89
81

80
82
72

101,050 i

+6.3

2, 482, 599
2, 464, 769

+9.1
+7.9

2, 350, QB5
2, 479, 136

+9.0
+8.8

-

— "i

-

Other Paper
Book paper, total:
Production
short tons.. 108, 656
Stocks, end of month...,
short tons..
67, 750
Coated book paper:
Production
per ct. of normal-87
Shipments., .per ct. of normal production _.
81
Orders
per ct. of normal production..
89
Unfilled orders, end of month
__days_.
9
Uncoated book paper:
Production
per ct. of normal..
94
Shipments. ..per ct. of normal production..
91
Orders
per ct. of normal production. .
92
Unfilled orders, end of month
days..
13
Wrapping paper:
Produ ction
92, 546
Stocks, end of month
short tons__
66, 211
Fine paper:
Production
short tons
36, 488
Stocks, end of month
short tons..
53,528
All other grades:
Production
short tons .
97, 525
Stocks, end of month
short tons. . 77, 675
Total paper (inc. newsprint and boxboard):
Production
short tons.. 696, 719
Stocks, end of month
short tons.. 341, 565

7 9

2
2

1, 284, 458

1,346,180

+4.8

0.0
-7.4

1,087,381

1,073,038

-1.3

+5.5
+0.2

-10.9
+9.5

448, 919

460, 704

+2.6

106, 334
69, 080

+3.3
+0.3

-6.7
-4.3

1, 196, 840

1, 233, 208

+3.0

652, 845
319, 044

680, 864
316,471

+2.3
+2.0

+4.1
+0.8

7, 823, 896

8, 296, 347

+5.8

371, 748
293, 677
78, 071

359, 052
281, 753
77, 299

+3.4
+2.1
+8.6

+3.5
+4.2
+1.0

4, 205, 016 4, 813, 580
3, 294, 194 3,813,339
916, 762 1, 000, 241

+14.5
+15.8
+9.1

70
70
65

71
72
68

76
75
78

+1.4
+2.9
+4.6

-6.6
-4.0
-12.8

120 !

99

Paperboard Shipping Boxes
Production:
Total
Corrugated
Solid
fiber
Operating activity:
Total
Corrugated . _ _
Solid
fiber

.__thous. of sq. ft_.
thous. of sq. ft..
thous. of sq. ft..
-- per cent of normal. _
per cent of normal. .
per cent of normal..

359, 602
287,714 I
71,888 ;

Other Paper Products
Rope paper sacks, shipments... index number. _
Abrasive paper and cloth:
Domestic shipments ..
_ .reams. _
Foreign shipments
._ reams. _
Labels:
New orders..
per ct. of capacity..

138

137

133

123

94,911
10, 549

93, 804
10, 896

89, 802
13, 123

72, 748
15, 903

60, 291
14, 490

84, 825
11 461

74. 1

65.4

68.9

97. 1

45 1

83.8

1,348
8, 932
151,418

1,421
8,169
146, 717

1,456
7,273
158,217

1,172
4,738
144, 942

196
196

194
193

192
192

192
192

-17.5 +11.2

89

1, 042, 694
149, 222

1, 015, 612 1 -2.6
162, 784 | +9.1

14, 786
61, 155
1, 847, 678

15,407
61, 926
1, 851, 791

BUILDING CONSTRUCTION AND
HOUSING
Rental advertisements:
Portland, Oreg
Minneapolis, Minn _
Real estate conveyances (41 cities)

number .
number. _
number..

1,070 !
3,385 i
147,057 |

1,144
3, 131
135,985

1,278
2,802
147, 039

+6.9
—7.5
-7.6

-10.5
+11.7
-7.6

190
190

195
195

+0.5
0.0

-2.6
-2.6

+4.2
+1.3
+0.2

Building Costs (Index Numbers)
Building materials:
Frame house, 6-room, 1st of month
Brick house, 6-room, 1st of month
Concrete factory costs (Aberthaw), 1st of following month
Building costs (Engineering News Record),
1st of following month . . . . .
._ _ .
Construction index:
Frame .
.. ..index number _
Brick, wood frame
index nunmer..
Brick, steel frame
index number. _
Reinforced concrete
index number..

189
190

197

197

197

197

196

194

195

-1.0

-0.5

208

210

211

211

212

210

207

-0.9

+1.4

203
213
198
200

203
213
197
200

204
213
198
201

204
213
198
200

204
213
198
200

204
213
198
200

204
212
199 j
201

0.0
0.0
0.0
0.0

0.0
+0.5
-0.5
-0.5

!

Revised.




ji

i
i

!

Building Contracts and Losses
Contracts awarded (36 States):
Commercial buildings
thous. of sq.
Industrial buildings
thous. of sq.
Residential buildings
thous. of sq.
Educational buildings
thous. of sq.
Other public and semipublic buildings
thous. of sq.
Grand total .
_ .thous. of so.

!

ft..
ft..
ft..
ft..

12, 438
6,918
39,829
5,196

14, 171
6, 280
40,183
4,588

11,141
6,613
41, 814
3,404

9,616
6,613
41, 691
4,562

9,856
5,941
37,033 i
2,812

10, 037
3,721
29, 757
2,329

11, 191
7,245
37, 694
2,170

+1.8
-37.4
-19.6
-17.2

-10.3
-48.6
-21.1
+7.3

151,063
67, 478
540,511
58,701

141,496
78, 790
498,928
52,208

ft..
ft. _

7,207
72. 220

6,303
71. 897

5,768
66.316

5,181
68.049

5,587
61.531

3,266
50. 568

4,042 -41.5
62. 498 i -17.8

-19.2
-10.1

69,803 '
899. 454

66,148 1
842. 935 1

-6.3
+16.8
-7.7
-11.1

-5.2
-6.3

41

TREND OF BUSINESS MOVEMENTS—Continued

1927

1926

The cumulatives shown are through December except where otherwise noted.
Earlier data for items shown here may
be found on pages 26 to 134 of the February, 1927, "Survey"

October November

December

1926

August

September

78,236
64,049
213, 624
40, 906

95,352
48,836
219, 910
32, 953

61, 219
45, 740
218, 982
23,076

56,403
64,552
223,305
33, 535

69, 634
47, 139
199,483
21, 912

77, 829
27, 134
160,029
16, 675

67,514
94,415
183,279
12,736

58, 153
119,078
574,046
31, 696

56, 825
90, 652
544, 528
20, 760

49, 837
100, 512
499, 366
43,384

46, 782
49, 122
473, 700
34, 972

63,357
118, 583
520, 107
13, 725

31, 625
53, 638
368, 930
16,771

32, 669
52, 761
443,373
12, 669

27, 833

19, 309

14, 877

26, 724

43, 758

37, 911

41,119

January January

PEE CENT INCREASE (+) OR
DECREASE (— )

Jan.,
1927,
from
Dec.,
1926

CUMULATIVE TOTAL
FROM JANUARY 1
THROUGH DECEMBER 31

Jan.,
1927,
from
Jan.,
1926

Perct.
increase

<•#

or decrease
(-)
cumulative
1926
from
1925

1925

1926

+11.8 +15.3
-42.4 -71.3
-19.8 -12.7
-23.9 +30.9

835, 673
462,741
2,671,971
413, 203

862, 102
651, 106
2,579,327
367,060

+3.2
+40.7
-3.5
-11.2

-50.1 -3.2
-54.8 +1.7
-29.1 -16.8
+22.2 +32.4

552,921
885, 730
5, 822, 240
297, 973

580, 163
1,063,239
6, 102, 994
372, 946

+4.9
+20.0
+4.8
+25.2

-7.8

373, 501

393,010

+5.2

-5.5
-12.4
-8.1
+3.1
+45.4
-96.6
-17.4

5, 680, 026
5, 662, 111
5,691,497

5,374,288
5, 431, 749
5,348,988

-5.4
-4.1
-6.0

692, 133
154,396

581, 578
20, Oil

-16.0
-87.0

-11.1
-21.2
-19.1
-12.7
-12.1
+6.0

6, 527, 596
6, 696, 807
6, 753, 658
607, 902
346,758

6,322,127
6, 357, 936
6, 437, 618
695, 119
555, 764

-3.1
-5.1
-4.7
+14.3
+60.3

519, 522
465, 419
460, 691

507, 909
469, 979
508,453

-2.2
+1.0
+10.4

1,398,913
1, 278, 840

1,484,606
1, 362, 985

+6.1
+6.6

1, 811, 854
1, 655, 834

1, 729, 128
1, 782, 459

-4.6
+7.6

650, 251
618, 695

593, 691
586, 817

-8.7
-5.2

-9.3
-25.3
-29.5

559, 182
542, 450
493, 523

488, 244
541, 957
493, 324

-12.7
-0.1
0.0

-21.6
-28.0

145,319
114, 600

126, 324
128, 815

-13.1
+12.4

253, 994
216, 988

209, 729
228, 478

-17.4
+5.3

45, 958
41, 363

33, 158
38, 642

-27.9
-6.6

+17.6

35, 498

30, 129

-15.1

-13.4 +0.7
+18.5 +87.1

36, 136

29, 253

-19.0

412, 849
350,419

359, 771
332, 010

-12.9
-5.3

BUILDING CONSTRUCTION AND
HOUSING— Continued
Building Contracts and Losses— Contd.
Contracts awarded, value (36 States) :
Commercial buildings . __thous. of dolls.
Industrial buildings
thous. of dolls..
Residential buildings
thous. of dolls..
Educational buildings
thous. of dolls..
Other public and semipublic buildings
thous. of dolls
Public works and utilities. -thous. of dolls..
Grand total
thous of dolls
Contracts awarded, Canada
thous. of dolls..
Fire losses:
United States and Canada..thous. of dolls..

-13.4

LUMBER PRODUCTS
Softwood Lumber
Southern pine:
446,454
-3.4
422,022
Production (computed)
M ft. b. m__ 446, 163 448,293 441, 419 427,430 436, 869
382,751
437, 159 +10.7
Shipments (computed)
M ft. b. m._ 467,317 458, 749 457, 297 426, 171 345, 865
+26.5
463, 977
426,558
New orders (computed)
M ft. b. m._ 499, 991 445, 502 431, 254 362,275 337, 200
+4.8
Stocks,endofmo. (computed). -M ft. b. m._ 1,055,408 1, 052, 000 1, 045, 688 1,065,538 1, 164, 232 1,219,779 1,182,790
+9.9
64,492
49, 122
47, 531
44,359
Exports, lumber
_
M ft. b. m__ 46, 141
41,951
58, 692
2162
274
7,758 +252. 7
Exports, timber
M ft. b. m._
261
117
71
258
43.54
-1.2
40.81
42.89
42.88
43.02
49.43
Price
flooring
dolls, per M ft. b. m
41.31
Douglas fir:
-2.3
410, 045
Production
M ft. b. m,_ 515, 690 525, 091 564, 036 503, 603 419, 893
461, 077
522,405
+1.7
411, 836
Shipments (computed)
M ft. b. m._ 526,434 512, 556 517, 928 457, 943 405, 121
458,839
567,169
+14.1
New orders
M ft. b. m._ 481, 221 528, 224 511, 661 512, 556 401, 987
25, 137
55,017
+0.5
48,025
53, 822
63, 801
47,794
Exports, lumber...
M ft. b. m
67, 380
26, 449
32, 708
30, 081 -43.0
50, 983
56, 042
46, 442
Exports, timber
M ft. b. m._ 58, 747
16.43
16.55
16.49
17.16
16.23
15.50
-2.7
16.89
Price, No. 1 common.dolls. per M ft. b. m__
Price,flooring,1 x 4, "B " and
37.91
37.41
-0.5
better, V. Q.._
M ft. b. m..
36.24
40.23
36.06
38.50
38.23
California redwood:
40,463
+4.0
32,099
35, 749
49, 906
30, 852
41,846
Production (computed)
M ft. b. m__ 47,448
35, 851
39, 742
33, 639
47, 116
24,043
33, 489 +49.0
Shipments (computed)
M ft. b. m._ 49, 418
42, 600
49, 886
32,014,
44, 832 +33.1
46, 259
New orders (computed).
M ft. b. m._ 45, 978
33, 516
California white pine:
47, 839
Production
M ft. b. m._ 171,168 160, 740 138, 768 100, 885
81, 226
127, 671
109, 915
91,472
89, 293
111, 987
126, 708
Shipments _
M ft. b. m
659, 098
659, 171
679, 154
674, 249
690, 157
573, 264
Stocks, end of month
M ft b m
Western pine:
67, 663
82, 765 -23.2
Production (computed).
M ft. b. m__ 175, 005 157, 977 153,716 125, 685 288,122
111,799
120, 095
-1.0
Shipments (computed)
_ _ M f t . b. m__ 186, 740 175, 618 162, 28-2 130,469 2 112, 917
-4.5
Stocks, end of mo. (computed) M f t b m 1, 165, 752 1, 154, 950 1, 150, 089 1, 142, 636 21,127,426 1, 076, 890 1,120,036
North Carolina pine:
53, 711
48, 797
38, 584
48, 524
50, 050
Production (computed).
M ft. b. m__ 48, 888
54, 019
47, 670
47, 271
45, 367
46, 550
Shipments (computed)
M ft. b. m__ 47, 033
Northern pine:
Lumber45, 528
52, 296
32, 493
40, 859
25,649
27, 693
35, 825 +17.3
Production
M ft b m
30, 557
50, 396
+8.7
28, 115
40, 933
48, 323
39,452
Shipments
_
M ft. b. m__ 49, 890
41, 460
29, 184
50,389
41, 399 +14.2
46, 204
24, 677
25, 550
New orders
M ft. b. in
Lath7,251
13,050
+13.8
13, 127
10, 029
5,729
6,372
9,246
Production
]VL ft b m
9,796
+34. 1
6,261
4,668
8,690
9,846
4,342
Shipments
_M ft. b. m._ 16, 942
Northern hemlock:
15,024
21, 582
16,301
Production
M ft. b. m
23, 219
15, 504
13, 602
19, 500
14, 152
22, 109
12, 756
Shipments
M ft. b. m__ 23, 027
17, 797

-10.4
-23.3
+7.1
-5.0

-18.2
-6.9
-3.9

Hardwood Lumber
Walnut lumber:
Production..
_
M ft. b. m__
Shipments
M ft. b. m _
Stocks, end of month
M ft. b. m
Walnut logs:
Purchased..
M ft. log measure-Made into lumber and
veneer
M! ft log measure
Stocks, end of month _ M ft. log measure..
Northern hardwoods:
Production
M ft. b. m
Shipments
M ft. b. m_.
All hardwoods:
Production (computed)
M ft. b. m_.
Shipments (computed).
.M ft. b. m._
Orders (computed)
_ _ M ft. b. m..
Total stocksTotal hardwoods
M ft b m
Gum_.
M ft. b. m
Oak
M ft b m
Unsold stocksTotal hardwoods
M ft b m
Gum
_..M ft. b. m..
Oak
M ft. b. m .
Total hardwoods
Gum
Oak
J
Revised.



2,610
3,022
15,046

2,640
2,806
13, 930

2,320
3,688
12, 503

2,378
3,310
11, 591

2,996
2,502
12, 202

2,417
2,809
11, 810

3,H3
3,624
19, 071

-19.3 -23.1
+12.3 -22. 5
-3.2 -38.1

-0.9

2,361

1,991

1,833

2,273

2,462

2,441

2,076

2,439
3,093

2,619
2,237

2,143
1,941

2,335
1,754

2, 357
1,907

2,088
2,260

2,073
1,208

15, 875
29, 674

15, 653
15, 399

13, 034
29, 247

11,394
26, 153

15, 578
22, 227

48, 395
32, 696

94,000
97,000
93,000

94, 000
93,000
105, 000

93, 000
101, 000
100, 000

90, 000
91, 000
92,000

82, 000
79, 000
74,000

81, 000
85,000
87, 000

824, 661
223, 865
273, 426

893, 104
222, 502
301,830

884, 608
224, 008
301, 135

897; 818
231, 160
308, 099

921, 875
242, 602
315, 826

898,606
238, 364
304, 723

765,431
212, 922
244, 137

-2.5 +17.4
-1.7 +12.5
-3.5 +24.8

642, 551
165, Oil
215, 312

685, 439
163, 108
230, 752

673, 856
164, 309
227, 982

718, 393
690, 785
168, 703
176,443
235, 911 . 255,457

698, 475
168,645
252, 811

592, 772
161, 851
188, 963

-2.8 +17.8
-4.4 +4.2 "
-1.0 +33.8

_M ft. b. m... 207, 768
M ft. b. m.. 70, 279
63, 942
M ft. b. m._

233, 189
69, 822
76, 661

242, 254
73,184
82, 185

239, 059
76, 790
79, 739

234, 651
78, 594
67,841

232,338
83, 627
59, 143

204, 771
68, 190
60, 433

-1.0
+6.4
-12.8

+13.5
+22.6
-2.1

42

TREND OF BUSINESS MOVEMENTS—Continued

1926

The cumulatives shown are through December except where otherwise noted.
Earlier data for items shown here may
be found on pages 26 to 134 of the February, 1927, "Survey"

August

September

October

November

December

PEB CENT INCREASE (+) OE
DECREASE (— )

1927

1926

January

January

Jan.,
1927,
from
Dec.,
1926

Jan.,
1927,
from
Jan.,
1926

CUMULATIVE TOTAL
FROM JANUARY 1
THROUGH DECEMBER 31

1935

1926

Perct.
increase
(
ort>
decrease
(-)
cumulative
1926
from
1925

LUMBER PRODUCTS— Continued
Total Lumber
Production, 10 species
M ft. b. m__ 2,413,655 2,491,837 2,468,949 2,279,825 22,108,796 2, 033, 786 2, 254, 461
155, 726
178,697
Exports, planks, joists, etc
M ft. b. m__ 156, 875 163, 301 121, 116 164, 263 166, 080
Retail yards, Minneapolis district:
6,134
* 8, 112
14, 697
Sales
M ft. b. m.. 20, 268
20,664
*6,055
16,483
289,444
100, 002 2 101, 041
Stocks, end of month
M ft. b. m__ 109, 822 102,183
94,830
88,276
Composite lumber prices:
41.11
41.15
42.60
40.93
41.15
Hardwoods
dolls per M ft. b. m
39.95
40.96
29.74
30.79
softwoods
d^Hs per TVT ft h TTI
30.28
29.98
29.78
29.93
29.90
Flooring
Maple flooring:
Production
M ft. b. m.
Shipments.
M ft. b. m>.
Stocks, end of month
. M ft. b. m_
New orders
M ft. b. m__
Unfilled orders end of month M f t b m
Oak flooring:
Production
M ft. b. m
Shipments
M ft. b. m
Stocks, end of month
M ft. b. m
New orders
_ _ _ _ _ _ M ft. b. m__
Unfilled orders, end of month__M ft. b. m__

-3.6 -9.8 31, 511, 300 29, 520, 313
+7.6 +14.8 1, 940, 243 1, 940, 563
+1.3 -24.4
-0.8
+12.0
-0.1
-0.1

-3.5
-3.4

206, 244

181, 248

-6.3
0.0
-12.1

11,316
13, 911
31,546
11, 155
9,987

12,034
13, 194
31, 131
9,720
9,606

11,616
11, 961
31, 314
7,115
8,580

12, 152
9,765
33, 619
6,171
7,350

11,750
9,541
35, 483
7,071
7,669

9,842
7,880
29, 034
6,587
6,224

8,922
7,143
29, 314
8,264
10, 401

-16.2
-17.4
-18.2
-6.8
-18.8

+10.3
+10.3
-1.0
-20.3
-40.2

105, 931
101, 131

119, 834
118, 183

100, 317

100, 439

+13.1
+16.9
+0.i

46,396
47,756
54,325
49, 756
43, 329

47,201
47,270
53,469
41, 777
39, 237

45, 056
42, 859
55, 273
37, 767
35, 578

40,029
34,501
60,145
33,827
32, 603

37, 489
30,504
67, 079
34, 595
35, 995

35, 215
31, 929
70, 629
37,497
41,061

45, 171
41, 498
48, 244
34,446
54, 161

-6.1
+4.7
+5.3
+8.4
+14.1

-22.0
-23.1
+46.4
+8.9
-24.2

517, 999
513,900

533,053
503, 079

+2.9
-2.1

509,222

482, 331

-5.3

63, 266
78, 590

63, 560
72, 215

58, 183
67, 016

48, 563
46, 819

53, 161
79, 602

548, 902

613, 975

+11.9

31
34

31
33

31
34

28
15

27
53

65

62

60

42

82

60
7.5
100.0

61
13.5
102.0

61
12.0
102.0

56
31.0
100.0

51
4.5
100.0

15, 524

16, 891

13, 557

10, 469

8,427

13, 592

-19.5

-38.0

147,458

136, 634

-7.3

6,651

8,649

6,663

2,600

3,490

3,892

+34.2

-10.3

12, 061
16, 600

14, 716
18, 709

15," 533
20, 474

14, 300
17, 763

7,259
9,347

10, 977
10, 158

-49.2
-47.4

-34.0
-8.0

147, 813
179, 750

134, 004
165, 949

-9.3
-7.7

3,824
3,456

4,121
3,893

3,882
3,786

3,791
3,625

2,913
3,891

3,219
3,348

3,763
3,938

+10.5
-14.0

-14.5
-15.0

4,708

4,672

4,807

4,548

3,579

3,591

5,972

+0.3

-39.9

248
172

220
251

111
184

231
214

82
151

59
116

222

-28.0
—23.2

-73.4

205, 738
752, 557
724,085
478, 750
862, 800
1,403,392
573,967
591, 912
965,924
697,679
895, 528
860, 875
534, 616
559, 337
371, 689
630, 909
1,293,273 1, 159, 314
2,184,084 2, 753, 279 2, 577, 303 1, 374, 598 1, 993, 216 1, 023, 457
3, 545, 455 2, 993, 355 3,069,088 2, 977, 129 2, 924, 016 1, 475, 275

-33.9
-33.3
-11.3
+45.0
-1.8

+132. 7
-3.0
+50.0
+94.8
+98.2

8,671
7,918

8,661
8,007

-0.1
+1.1

1, 902, 292

1, 754, 834

-7.8

333, 516
255, 350

271, 114
262, 397

-18.7
+2.8

271,395

274, 627

+1.2

Wooden Furniture
Household furniture and case goods:
Shipments
dolls average per firm
54,218
Unfilled orders
dolls., average per firm.. 74, 240
Grand Rapids district:
Shipments
No of days' production
29
New orders
No of days' production
27
Unfilled orders, end of
month
No of days' production
68
Outstanding accounts, end of
month
No of days' sales
55
Cancellations
per cent of new orders
7.0
Plant operation
per cent of full time
100.0
Piano benches and stools:
New orders (av. per
firm)
.dollars.. 10, 101
Unfilled orders, end of month (av. per
3,408
firm)
dollars
ShipmentsValue (av. perfirm).
dollars. _ 9,017
Quantity (total)
pieces. _ 11, 875
Plywood and Veneer
Plywood:
New orders
thous of so ft of surface
Shipments
thous ofsq ft of surface
Unfilled orders, end of
month
thous ofsq ft of surf ace
Rotary-cut veneer:
Purchases
number of carloads
Receipts
number of carloads
Barrel Headings
Circled headings for wooden barrels:
Production (rough)
sets
Shipments (finished)
sets
New orders (finished)
sets
Unfilled orders end of month
Stocks on hand end of month
STONE, CLAY, AND GLASS
PRODUCTS

1,213,395
916, 242
653,905
1, 711, 747
3, 070, 079

Clay Products
Face brick, averages per plant:
Production
thousands
Shipments
.thousands.
Stocks, end of month
thousands
Unfilled orders, end of month., .thousands. _
Common brick:
Stocks, end of monthBurned
thousands
Unburned
thousands
Shipments
thousands. _
Unfilled orders, end of month.. thousands. _
Plants closed down
number
Price, red, New York
dolls, per thous..
Paving brick:
Production, actual .
.thousands.
Shipments
_
thousands..
Stocks end of month
thousands
New orders _ _
thousands..
Cancellations
thousands
Unfilled orders, end of month. . thousands. _
Operations, relation to capacity
percent..
2
Revised.




855
780
2,011
985

792
722
2,132
979

753
861
2,084
863

716
542
2,104
741

610
338
2,241
673

489
282
2,409
727

584
351
2,310
912

-19.8
-16.6
+7.5
+8.0

-16.3
-19.7
+4.3
-20.3

249, 271
59, 103
135, 090
211, 141
4
17.00

284,021
67, 758
118, 537
216,289
18
16.00

286, 952
58, 388
135, 824
213, 092
16
15.50

451, 563
182, 716
217, 740
274, 850
21
12.25

453,452
88, 997
149, 315
311, 979
64
15.50

462, 565
58,331
93,806
324,837
68
17.00

324, 203
2 58, 399
108, 688
259,158
32
16.00

+2.0
-34.5
-37.2
+4.1
+6.3
+9.7

+42.7
-0.1
-13.7
+25.3
+112. 5
+6.3

30,481
34,803
92, 479
34, 266
1,261
77, 149

25,385
31, 330
82, 220
24, 663
128
70, 350

23,224
26, 852
70, 857
20,712
255
62,474

18, 516
20, 711
63,207
12, 874
2,999
51, 606

13, 815
10, 681
65,800
10,003
109
50, 701

11,665
7,142
64,893
11, 964
188
55,869

19,329
10,237
111,431
11, 454
344
48,722

-15.6
-33.1
-1.4
+19.6
+72.5
+10.2

-39.7
-30.2
-41.8
+4.5
-45.3
+14.7

78

66

61

53

36

20

50

-44.4

-60.0

43

TREND OF BUSINESS MOVEMENTS—Continued
1927

1996

The cumulatives shown are through December except where otherwise noted.
Earlier data for items shown here may
be found on pages 26 to 134 of the February, 1927, "Survey"
August

Septem- October
ber

November

December

January

1936

January

PER CENT INCREASE (+) OR
DECREASE (— )

Jan.,
1927,

from

Dec.,
1926

Jan..
1927,
from
Jan.,
1926

CUMULATIVE TOTAL
FROM JANUARY 1
THROUGH DECEMBER 31

Perct
increase
(+)
or decrease
(-)
cumu
lative
1926
from
1925

1925

1926

53, 877
53,710
19,357

64, 885
60, 833
22, 767

+13.3
+17.6

STONE, CLAY, AND GLASS PRODUCTS— Continued
Clay Products— Continued
Sand lime brick:
Production
thousands..
Shipments by rail
thousands
Shipments by trucks
thousands..
Stocks, end of month
thousands..
Unfilled orders, end of month.. thousands..
Vitreous china plumbing fixtures:
New orders
pieces..
Shipments
;
pieces..
Unfilled orders, end of month
pieces..
Stocks, end of month
pieces..
Floor and wall tile:
Production
thous. of sq. ft..
Shipments, quantity
thous. of sq.ft..
Shipments, value
thous. of dolls __
Stocks, end of month
thous. of sq. ft..
Architectural terra cotta, new orders:
Quantity...
net tons
Value
.. .thous. of dolls

17,435
7,690
9,870
8,770
24,200

15, 626
6,663
9,094
9,877
18,651

16, 178
4,890
12,344
8,613
19,325

16, 923
6,363
10, 240
8,953
18, 150

U2,049
2 3, 825
»7,401
2 11, 583
» 7, 701

8,307
3,824
5,378
16, 455
17,908

376, 060
270, 876
578, 761
498, 667

234, 898
288, 195
524,079
469, 706

151,403
257, 637
417, 845
495, 900

406,305
207,452
616, 698
523,338

167, 752
206, 199
578,251
470,069

190,035
278,519
493,469
555,969

5,708
5,885
2,196
8,473

5,304
5, 625
2,069
8,258

25,817
5,242
1,987
8,386

5,457
4,969
1,895
8,462

5,311
4,936
1,877
8,879

12, 734
1,491

11, 520
1,247

15, 151
1,579

10, 690
1,221

10,414
1,155

9,851
1,138

13,342
1,645

-5.4
-1.5

-26.2
-30.8

167, 583
20,197

159, 666
19, 260

-4.7
-4.6

__thous. of bbls..
thous. of bbls_.
thous. of bbls..

16, 995
18, 583
15, 718

16, 571
18, 087
14, 188

16, 596
17,486
13, 334

14, 193
11, 276
16, 243

10, 744
6,432
2 20, 616

8,222
5,956
22,882

7,887
5,674
20, 582

-23.5
-7.4
+11.0

+4.2
+5.0
+11.2

161, 202
156, 724

164, 057
161, 781

+1.8
+3.2

dolls, per bbl_.
dolls, per bbl

1.65
1.75

1.65
1.65

1.65
1.65

1.65
1.65

1.65
1.65

1.64
1.63

1.65
1.75

-0.6
-1.2

-0.6
-6.9

13,249
6,594

8,378
3,736

7,528
4,224

5,595
3,231

6,797
3,518

4,236
2,656

3,629
2,161

-37.7
-24.5

+22.9

+16.7

104, 168
63, 938

107, 303
61, 134

+3.0
-4.4

19, 275
890
11, 147

15, 222
668
11,309.

21, 948
1,090
11, 607

29,768
1,128
10,478

26,298
951
10,047

8,115
508
9,839

12, 110
386
10,838

-69.1 -33.0
-46.6 +31.6
-2.1 -9.2

220, 920
10, 349
146, 243

214, 514
9,444
130,674

-2.9
-8.7
—10.6

11, 274

11,431

11, 186

9,705

7,344

117,223

128, 858

+9.9

2,038
71.7
1,642
2,022
5,145
7,640

2,009
72.2
2,237
2,088
5,054
7,672

2,321
79.7
2,421
1,980
5,408
7,958

2,143
72.3
2,553
1,693
5,822
8,714

2,045
69.0
2,414
1,592
6,315
9,453

2,050
29.8
42.8
36.9

3,193
43.7
47.0
46.3

3,565
50.9
49.6
49.4

3,956
52.6
46.9
47.7

3,879
50.0
40.2
47.2

40, 616

37,494

-7.7

1.9
3.5

1.4
3.4

1.4
3.5

1.2
3.6

1.0
3.7

7,537

9,224

+22.4

2

-31.1
0.0

—27.3

+42.1
+132. 5
271,957
230, 507
527,381
444, 664

+13.3
-30.1
+35.1 +20.8
-14.7
-6.4
+18.3
+25.0

4,957
4,289
1,620
7,529

+20.4

Portland Cement
Production
Shipments
Stocks, end of month
Wholesale price:
Chicago districtLehigh Valley
Highways
Concrete pavements, new contracts:
Total
thous. of sq. yds..
Roads
thous. of sq. yds..
Federal-aid highways:
Completed—
Cost
thous. of dolls..
Distance
miles..
Under construction, end of month _ _ miles..
Plate Glass
Production, polished..

_thous. of sq. ft

10,729

Glass Containers
Actual production:
Quantity
Relation to capacity
New orders
Shipments
_
Stocks, end of month
Unfilled orders, end of month

gross..
_per cent..
gross
gross
gross..
gross..

2,032
71.3
2,725
1,803
6,541
10,274

2,005
73.3
2,804
1,704
5,906
9,654

-0.6
+3.3
+12.9
+13.3
+3.6
+8.7

+1.3
-2.7
-2.8
+5.8
+10.8
+6.4

Illuminating Glassware
Production:
Total
_
number of turns..
Ratio to capacity
per ct. of capacity..
New orders
per ct. of capacity..
Shipments
per ct. of capacity..
Unfilled orders, end
of month
number of weeks' supply..

2,975
38.0
40.8
38.3
1.4 j
6.3

CHEMICALS AND OILS
Chemicals
Sulphuric acid:
Exports
..thous. oflbs..
598
' 384
260
591
639
519
997
Price wholesale, 66°, N.Y..dolls. per lOOlbs..
.75
.75
.75
.75
.75
.75
.70
Nitrate of soda:
Imports
long tons
55,325
37, 096
47, 503
51,448
63, 660
103, 627
47,240
Production in ChileQuantity
metric tons
142, 589
120, 890
127, 082
111, 283
86, 731
79,151 235, 000
Units reporting
no of plants
47
43
40
36
30
25
89
Potash, imports.
long tons
27, 522
23, 355
28, 341
34, 411
29,347
30, 189
28,365
Acid phosphate:
Production
short tons
240, 185
227, 112
267, 475
272, 571
262, 746
438, 213
Consumption
.short tons . 104,645 276, 584 145, 333
86, 703
126, 981
192, 059
Stocks, end of month
short tons 1, 280, 187 1,233,428 1, 352, 440 1, 635, 805 1, 761, 892
2, 394, 242
Fertilizer:
Consumption in Southern
States _
short tons
45, 479
155, 921
119, 165
79, 693
103, 048
651, 205
Exports
long tons
113, 785
73, 384
97, 701
73, 993
70, 466 "~67~678~
60, 121
Dyes and dyestuffs, exports:
Vegetable
thous ..oflbs..
558
162
136
209
177
227
215
Coal-tar
thous. of Ibs..
2,449
1,883
2,220
2,672
2,104
1,865
1,552 I
1
Revised.




-18.8
0.0

-47.9
+7.1

-25.8

-54.4

1, 114, 808

904,986

-18.8

-8.7
-16.7
+2.9

-66.3
-71.9
+6.4

2, 519, 780
1,080
261, 008

2, 014, 103
701
303, 652

-20.1
-35.1
+16.3

3,311,057
3,438,130

3, 405, 655
3, 038, 155

+2.9
-11.6

5, 076, 259

5,093,066

+0.3
-4.4

~-4.~6~ +I2.~6~ 1, 146, 385 1, 096, 101
+28.2 +5.6
3,723
2,597
-11.4
+20.2
25, 802
25, 812

-30.2
0.0

44

TREND OF BUSINESS MOVEMENTS—Continued
1926

The cumulatives shown are through December except where otherwise noted.
Earlier data for items shown here may
be found on pages 26 to 134 of the February, 1927, "Survey"

1927

August

September

October

November

December

January

206
163
155
113
157

209
155
155
114
154

215
148
156
114
136

211
143
156
114
134

203
135
156
114
129

203
126
155
114
128

12, 180
14, 524
19, 951
2,902
3.25

11, 770
11, 285
23, 241
1,392
3.25

14,002
16, 013
17, 746
1,125
3.25

14, 100
15, 510
16, 328
1,797
3.38

13,468
14, 187
16,421
675
3.50

1926

PER CENT INCREASE (+) OR
DECREASE (-)

January

Jan.,
1927,
from
Dec.,
1926

Jan.,
1927,
from
Jan.,
1926

193
218
156
114
155

0.0
-6.7
-0.6
0.0
-0.8

+5.2
-42.2
-0.6
0.0
-17.4

CUMULATIVE TOTAL
FROM JANUARY 1
THROUGH DECEMBER 31

Perct
increase
( )
or tdecrease
(-)
cumulative
1926
from
1925

1925

1926

151, 534
152, 226

157, 077
156, 138

22,039

18, 583

+3.7
+2.6
-15.7

2 7, 774, 791 2 8,2 095, 953
364, 091
2 373, 778

+4.1
-2.6

408, 185

417, 265

+2.2

819, 636
46,906

853, 164
49, 415

+4.1
+5.3

65,006,898

7,402,715

CHEMICALS AND OILS— Continued
Chemicals— Continued
Price index numbers:
Crude drugs
index number-Essential oils
index number. .
Drugs andpharmaceuticals.index number. _
Chemicals
index number __
Oils and fats
index number..
Wood Chemicals
Acetate of lime:
Production
thous. oflbs
Shipments or use
thous. oflbs
Stocks end of month .
thous. of lbs._
Exports
thous. of lbs._
Price wholesale . ._
dolls, per cwt._
Methanol, crude:
ProductionUnited States
gallons..
Canada.
gallons..
Stocks at crude plants, end of monthUnited States
gallons
Canada
-- - gallons
Stocks at refineries and in transitUnited States
gallons
Canada
gallons..
Exports
gallons..
Price, wholesale, N. Y
dolls, per gal_.
Wood:
ConsumptionUnited States _
cords
Canada
cords
Stocks, end of monthUnited States
.cords..
Canada
cords. _
Methanol, refined:
ProductionUnited States. .
gallons
Canada
gallons..
Stocks, end of monthUnited States..
_ gallons
Canada
gallons..

1,630
3.50

2 622, 456
53, 124

2 2486, 199 2 442, 998
51, 326 2 46, 621

463, 049
2 31, 947

21,400,994
2 48, 787

2 278, 219
35, 585

2 351, 409 2 164, 363 2 151, 326 2 144, 136 2 207, 682
2 33, 651 2 31, 853 2 30, 293 » 18, 947 2 15, 369
29, 869
8,704
43, 350
38, 779
24, 977
.75
.70
.76
.74
.81 1

+26.7
+7.7

2 752, 292
2 45, 917

2 589, 828 ' 610, 393 2 712, 309 2 720, 798 2 733, 678
* 25, 974 2 37, 196 2 38, 520 2 45, 946
2

14, 425
11, 339
19, 261
1,286 +141. 5
3.25
0.0

11,012
.83

2 656, 565
2 40, 096
70, 254
.58

+26.5 -84.3
+2.5 +43.1

66, 007

65, 807
3,132

73, 895
4,513

73, 701
4,732

70, 653
9,334

77, 239
6,220

500, 675
38, 263

491, 307
35, 131

485,022
42, 341

473, 964
38, 129

702, 275
37, 569

534, 311
62, 791

608,346

700, 211
26, 700

618, 284
29,200

531, 764
32, 645

642, 397
31, 545

516, 943
42, 994

463, 488
44, 303

379, 710
40, 631

623, 544
37, 500
K
331,256
43, 964

284, 754
49, 492

717, 817
60, 704

16, 977
14, 390
8,914

20, 776
17, 338
10, 863

20, 530
18, 809
11,436

17, 640
18, 696
9,913

15, 622
18, 108
6,868

16, 350
17, 712
3,871

194, 274
177, 610

194, 653
179, 936

+0.2
+1.3

38,023
37. 174
37, 021
16, 894

40, 741
41, 098
38, 348
16, 488

40, 670
40, 951
39,311
16, 857

39, 628
41, 475
37, 913
15, 126

36, 143
34, 317
33, 159
17, 145

28, 789
30, 075
29, 717
16, 414

408, 686
410, 895
392, 844

434, 814
437,439
406, 581

+6.4
+6.5
+3.5

40, 632

34, 918

32, 216

25, 885

29, 143

7, 386

6,512

291, 829

303, 347

+3.9

58, 929
64,171
11,471

57, 601
62, 281
12, 180

57, 370
63, 736
13, 069

63, 650
70, 788
12, 685

58, 321
63, 835
13, 228

48, 993
53, 098
8,794

44, 907
54, 304
7,303

1, 082, 343' 1, 097, 111

+1.4

Ethyl Alcohol
Production
thous. of gals
Withdrawn for denaturation
thous. of gals..
Warehouse stocks, end of month.thous. of gals..
Explosives
(Black powder, permissibles, and other high
explosives)
Production
Shipments
New orders
Stocks end of month

.

.thous. oflbs
thous. of lbs_.
thous. oflbs
thous. oflbs

Naval Stores
Turpentine (gum):
Net receipts, southern ports
barrels. _
Stocks, end of month—
At three ports
barrels
At five ports.
_ barrels
At stills
barrels
Price, southern, in barrels,
New York
dolls, per gal..
Rosin (gum):
Net receipts, southern ports
barrels..
Stocks, end of month—
At three ports
. barrels
At five ports
barrels..
At stills
barrels
Price, common to good (B),
New York .
dolls, per bbl
Turpentine (wood):
Production
barrels
Stocks, end of month _.
_ . barrels
Rosin (wood) :
Production
barrels,.
Stocks, end of month
.barrels
Pine oil:
Production
.
_. barrels
Stocks, end of month
barrels. _
Roofing
Roofing felt:
Production, drv felt
tons..
Stocks, end of month, dry felt
..tons..
Prepared roofing:
Shipments..
thous. of roof squares..
2
Revised.



-74.7

+13.4

-16.0 +9.1
-16.8 -2.2
-33.5 +20.4

.95

.92

.90

.89

.86

.83

1.07

-3.5

138, 124

118, 868

114, 120

107, 801

122, 847

39, 136

36,466

-68.1

131, 636
143, 500
61, 892

148, 177
158, 039
69, 387

158, 210
166, 703
74, 445

184, 405
203, 744
90, 163

208, 789
229, 189
92, 860

160, 120
179, 943
84, 261

199, 121
218, 726
93, 318

-22.4

+7.3

-23.3 -19.6
-21.5 -17.7
-9.3 -9.7

14.61

14.43

13.86

13.08

12.24

12.38

14.34

+1.1 -13.7

5,483
2,765

5,604
3,839

6,045
3,426

6, 612
3,733

6,499
4,911

7,053
5,531

4,362
3,468

+8.5 +61.7
+12.6 +59.5

58, 592

62, 624

+6.9

32, 800
17,424

31, 766
13, 555

34, 161
17, 702

33, 373
22, 831

32, 864
27, 736

35, 168
33, 513

20, 470
16,431

+7.0 +71.8
+20.8 +104. 0

286, 377

326, 561

+14.0

221,477
278,487

234, 848
254, 459

263, 696
259, 670

238, 321
239, 017

220, 827
254, 259

241, 563
305, 151

135, 135
674, 097

+9.4 +78.8
+20.0 -54.7

1, 938, 604

2, 341, 995

+20.8

23,547
3,636

26, 938
3,236

27, 636
3,426

22, 013
3,246

17, 857
3,545

19, 266
3,628

18, 195
4,641

+7.9* +5.9
+2.3 -21.8

243, 564

276, 362

+13.5

2,768

3,450

3 495

32. 766

32. 040

-2.2

6

2,441
1,405
1,699 —33.4 -17.3
2,115
Nine months' cumulative, April to December, inclusive.

45

TREND OF BUSINESS MOVEMENTS—Continued
1936

1937

1926

The cumulatives shown are through December except where otherwise noted.

PER CENT INCREASE (+) OR
DECREASE (— )

Earlier data for items shown here may
be found on pages 26 to 134 of the February, 1927, "Survey"

Jan.,
1927,
from
Dec.,
1926

August

September

October

November

December

541
55, 971
18, 337
20, 950

801
55, 095
21, 288
16, 127

2,688
50,449
19, 813
21, 219

5,336
67, 086
21,
793
2
33, 713

47, 553
20, 015
2
25, 400

51, 953
19, 681
31, 588

7,470
57, 657
15, 080
21, 377

15, 635

20, 232

21, 766

23,428

24, 798

22, 748

22, 585

-8.3

1,405
6,190
17, 294

1,775
8,127
20, 172

2,091
8,895
21, 766

2,158
9,850
23, 800

2,013

2,407
9,337
21, 501

+0.2
-7.3
-10.9

975, 028 1, 508, 357 1,222,495 834, 925
472, 760
568, 190
467, 708 938,476 980, 321 932, 726
870,456 790, 679
577, 981 1, 146, 792 1, 387, 387 1, 291, 912 1, 029, 646 1, 098, 364

19, 641
10, 045

136,470
58, 158

284, 229
104, 778

296, 197
131, 035

275, 127
155, 455

256, 030
172, 358

226, 231
129, 743

-6.9
+10.9

17, 748
89, 412

75,440
64, 568

213, 255
132, 578

237, 599
232, 983

229, 142
332, 344

397,432

205, 749

180, 038
204, 397

January

January

Jan.,
1927,
from
Jan.,
1926

CUMULATIVE TOTAL
FROM JANUARY 1
THROUGH DECEM-

BER 31

1935

1936

Perct
increase
(+)
or decrease
<-)
cumulative
1926
from
1925

CHEMICALS AND OILS— Continued
Fats and Oils
Total vegetable oils and copra:
E xports
thous . of Ibs
Imports
thous. of Ibs..
Copra, imports .
short tons
Copra or coconut oil, imports
thous. of Ibs..
Oleomargarine:
Production
thous. of Ibs..
Ingredients consumed in production—
Cottonseed oil
thous. of Ibs
Coconut oil
_thous. of Ibs..
Consumption
thous of Ibs
Cottonseed
Cottonseed:
Receipts at mills. __ „
short tons
Consumption (crush)
short tons
Stocks at mills, end of month, .short tons..
Cottonseed oil, crude:
Production
_ thous. of Ibs
Stocks, end of month
thous. of Ibs. _
Cottonseed oil, refined:
Production
_._
thous. of lbs_.
Stocks, end of month. .
thous. of Ibs
Price, yellow, prime,
New York. _ _
dolls, per Ib
Cottonseed cake and meal:
Production .
short tons
Stocks, end of month...
short tons .
Exports
short tons

117, 748
70, 657
70, 667

6,862

2,008 '
10, 611
24, 530

6,967

9,837
21, 859

+1.5 -6.7
+9.3 -10.5
-1.7 +30.5
+24.4 +47.8

68, 746
664,412
164, 038
233, 174

43, 720
669, 782
228, 799
245, 129

-36.4
+0.8
+39.5
+5.1

+0.7

233, 858

243,457

+4.1

-16.4
+5.4
+1.7

24,346
90, 911
232, 303

23,448
97, 650
242, 710

-3.7
+7.4
+4.5

-31.9 +20.2
-6.7 +10.1
-20.3 -6.3

5, 274, 235
5, 082, 748

5, 804, 844
5, 922, 510

+10, 1
+16.5

+13.2
+32.8

1, 510, 842

1, 758, 135

+16.4

-10.2 +14.3
+19.6 +94.4

1,345,461

1,476,576

+9.7

.13

.11

.09

.08

.08

.09

.11

33, 266
90,488
27,124

210, 833
127, 064
21, 749

419, 784
172, 566
74, 114

438, 410
176, 006
47,547

416, 246
166, 535
93, 198

386, 182
147, 250
81, 099

366, 294
317, 342
68, 907

-7.2 +5.4
-11.6
-53.6
-13.0 +17.7

2, 367, 633

2, 710, 702

+14.5

399,478

421, 887

+5.6

1,029
370
579

2, 189
907
846

6,144
1,644
3,102

2,811
1, 671
3,569

2,694

2,372

704
540

513
320
2,026

-49.8 +37.2
-61.6 +68.8
-12.0 +17.1

23, 331
11, 958

17, 260
8,018

-26.0
-32.9

11, 904
.119

14, 153
.112

11, 669
.108

8,725
.108

8,756

9,660

12,401
,117

+10.3
-1.9

-22.1
-10.3

162,447

132, 689

-18.3

.105

12, 632
37, 477

21, 799
48, 257

30,436
55, 950

23, 808
40, 916

22, 581
48, 868

20, 682
61, 103

26, 581
71, 496

-8.4
+25.0

-22.2
-14.5

291, 396
650, 690

200, 897
589, 784

-31.1
-9.4

66, 739
19, 437

81, 780
44, 754

77, 714
83, 719

78, 412
119, 790

68, 125
117, 796

59, 731
116, 613

49, 473
111,121

-12.3 +20.7
-1.0 +4.9

71, 583
34, 458

124, 773
48, 731
24, 625

37, 137
24, 427

29, 754
23, 422

116, 413
22, 405
17, 376

24, 595
13, 757

103, 109
21, 640
12, 358

+9.8
-20.8

+12.9
+13.7
+11.3

359, 920
255, 187

390, 231
232, 661

+8.4
— 8. 8

28, 995
35, 485

23, 700
30, 719

17, 589
23, 821

14, 280
20, 277

14, 973

12, 619

8,078

2,411
5,452

-15.3 +235. 0
-15.7 +131. 5

92, 401
135, 670

138, 042
191, 676

+49.4
+41.3

9,541
11, 607

10, 575
13, 329

30, 573
34, 907

43, 947
49, 626

44, 879
48, 862

12, 571
16, 054

13, 199
16, 426

-72.1
-67.1

222, 345
268, 774

250, 029
297, 088

+12. 5
+10.5

1.42
1.37

1.39
1.36

1.44
1.40

1.39
1.38

1.44
1.40

1.45
1.37

1.84
1.87

43, 922
9,495

40, 462

40, 358
6,347

478, 036
83, 279

494, 124
85, 312

+3.4
+2.4

+12.5

-18.2

Flaxseed

Minneapolis and Duluth:
Receipts..
thous. of bushs .
Shipments
thous. of bushs..
Stocks, end of month
thous. of bushs
Linseed oil:
Shipments from Minneapolis.thous. of lbs._
Price, New York...
dolls, per lb..
Linseed cake and meal:
Shipments from Minneapolis.thous. of lbs_.
Exports
thous. of Ibs

1,402
1,405

.107

FOODSTUFFS
Wheat
Visible supply, end of month:
United States
thous. of bushs..
Canada
. __ thous. of bushs
Stocks, millers', end of
quarter
thous. of bushs
Receipts, principal mar kets__ .thous. of bushs..
Shipments, principal markets .thous. of bushs..
Exports:
United StatesWheat only
thous. of bushs..
Including wheat flour .thous. of bushs..
Canada—
Wheat only
thous. of bushs
Including wheat flour. thous. of bushs..
Prices:
No. 1, northern, Chicago.. dolls, per bush..
No. 2, red winter, Chicago .dolls, per bush..

9,536

1

-4.8
-2.7

+0.7 -21.2
-2.1 -26.7

Wheat Flour
Grindings of wheat:
47, 654
United States (census)
thous. of bushs
49, 317
48, 727
Canada
thous. of bushs. .
4,694
7, 323
10, 029
Production:
United States, actual
(census)
.
thous. of bushs.
10, 477
10, 843
10, 678
United States, prorated
(Russell)
thous. of bbls
12, 338
12, 681
13, 029
Canada
thous. of bbls
1,044
1,634
2,231
Production, grain offal
thous. of Ibs
820, 795 844, 773 834, 908
Capacity operated, flour mills
per cent
62
67
63
Consumption, wholesale
(computed)
thous. of bbls
10, 257
10, 921
11, 444
Stocks, all positions, end of
month (computed)
.thous . of bbls
8,300
8,500
8,700
Stocks, millers'
_
thous. of bbls..
4,217
Exports:
1,442
United States
thous. of bbls. _
1,385
1,560
Canada
...thous. of bbls..
459
612
963
Wholesale prices:
Standard patents, Minneapolis
dolls, per bbl..
7.95
7.94
7.73
Winter straights, Kansas
City
dolls, per bbL.
6.74
6.94
6.68
1
Quarter ending Dec. 31, 1925.




7,777

9,618

8,875

8,679

103, 790

107, 440

+3.5

11,312
2,089
750, 008
59

10, 537
1, 715
692, 323
53

10, 287
1,422
728, 335
54

125, 001
18, 564
8, 427, 821

127, 166
18,965
8, 677, 802

+1.7
+2.2
+3.0

10, 668

10, 629

9,513

113, 898

125, 514

+10.2

8,000

6,700
4,336

7,000
i 4, 584

-5.4

1,344
1,262

1,208
885

676
717

-16.5 +49.3
-12.5 +7.9

11, 121
10, 317

11, 930
10, 457

+7.3
+1.4

1,009
774

7.74

7.63

7.46

9.41

-2.2

-20.7

6.64

6.60 ,

6.55

&34
-0.8
2 Revised.

-21.5

1

46

TREND OF BUSINESS MOVEMENTS—Continued

1926

The cumulatives shown are through December except where otherwise noted.
Earlier data for items shown here may
be found on pages 26 to 134 of the February, 1927, "Survey"
August

September

October

November

December

1927

1996

January

January

PEE CENT INCREASE (+) OR
DECREASE (-)

Jan.,
1927,
from
Dec.,
1926

Jan.,
1927,
from
Jan.,
1926

CUMULATIVE TOTAL
FROM JANUARY 1
THROUGH DECEMBER 31

1935

1926

Perct.
increase
(+)
or decrease
(-)
cumulative
1926
from
1925

FOODSTUFFS-Continued
Corn
Exports, including meal
thous. of bushs
Visible supply, end of month_.thous. of bushs. _
Receipts, principal markets. . -thous. of bushs..
Shipments, prin. markets
thous. of bushs.
Grindings (starch, glucose)
thous. of bushs..
Prices, contract grades, No. 2,
Chicago __ ._
... dolls, per bush

1,158
22, 455
11, 482
8,288
6,735

1,052
18, 999
13, 524
7,267
6,311

1,494
24, 637
28, 393
11,001
7,057

2,208
32, 219
22, 847
12,563
5,924

2,030
36, 412
22, 339
8,652
5,100

2,017
40, 616
27, 902
10, 638
6,095

4,823
29, 519
30, 851
10, 268
7,191

-0.6
+11.5
+24.9
+23.0
+19.5

-58.2
+37.6
-9.6
+3.6
-15.2

.81

.80

.78

.71

.76

.77

.80

+1.3

-3.7

23, 078
42, 529
1,028

16, 783
50, 194
1,762

14, 333
49, 732
860

11, 309
50, 063
951

10, 188
46, 341
808

14, 377
46, 890
614

14, 948
66, 284
1,447

+41.1
+1.2
-24.0

-3.8
-29.3
-74.1

.40
841

.43
1,099

.47
1,036

.45
1,215

.50
927

.50

.43
996

0.0

+16.3

11, 309

12, 893

14,068

15, 026

11, 329

5,150
3,581
1,523

6,953
5,008
2,663

4,445
4,823
939

3,668
4,902
1,080

3,037
4,492
1,363

2,663
4,180
1,006

3,034
6,971
783

-12.3
-6.9
-26.2

-12.2
-40.0
+28.5

.65

.67

.71

.71

.74

.74

.72

0.0

+2.8

2,007
9,325
318
1.01

3,900
11, 052
2,130
.97

2,688
12, 594
137
1.01

2,254
12, 751
162
.96

1,453
12,343
613
.97

1,281
12, 591
804
1.02

1,520
6,236
197
1.05

39, 512

38,326

27, 251

24,678

19, 787

17, 060

12, 702

13,468

25, 217

+87.2

226, 643
135, 133
70, 264

237, 977
121, 783
76,095

+5.0
-9.9
+8.3

234, 149

162, 170

-30.7

37, 303

18, 734

-49. a

10, 262

10, 717

+4.4

133, 175

140, 596

+5.6

Oats
Receipts, principal
markets
thous. of bushs
Visible supply, end of month..thous. of bushs..
Exports, including meal
thous. of bushs
Prices, contract grades,
Chicago
..dolls, per bush._
Grindings, Canada
thous. of bushs _
Production, oatmeal and rolled
oats, Canada
thous. of lbs__

13, 994

Other Grains

Barley:
Receipts, principal
markets
.
thous of bush
Visible supply, end mo
thous. of bush..
Exports
._ _ thous of bush
Price fair to good, malting,
Chicago..
dolls, per bush..
Rye:
Receipts, principal
markets
thous of bush
Visible supply, end mo
thous. of bush..
Exports, including flour thous. of bush..
Price, No. 2, Chicago
.dolls, per bush..

-11.8
-15.7
+2.0 +101.9
+31.2
308.1
+5.2
-2.9

66, 199

41,989

-36.6

28, 577

13, 566

—52.5

29,865

20,605

-31.0

28,899

12,035

-58.4

249, 550

261,228

+4.7

5, 935, 027

7, 568, 035

+27.5

6, 443, 872
1, 607, 328

7,628,436
1, 924, 998

+18.4
+19.8

654, 668
675, 261

1, 174, 923
1, 168, 974

+79.5
+73.1

Total Grains
Total grain exports, incl. flour. thous. of bush..

—13.8

+34.3

-20.2

-19.8

Bice
Southern paddy, receipts at mills
bbls..
Shipments:
Total from mills
pockets (100 Ibs.)
New Orleans _ _
pockets (100 Ibs.)
Stocks, end of month..
pockets (100 lbs.)_.
Exports
. .pockets (100 Ibs.)
Imports _
pockets (100 Ibs.)
Other Crops
Apples:
Cold-storage holdings,
end of month
thous. of bbls
Car-lot shipment
carloads. _
Potatoes, car-lot shipments _ .
. carloads
Onions, car-lot shipments
carloads
Citrus fruits, car-lot shipments
carloads..
Hay, receipts
tons

259, 953 1, 147, 507 1, 681, 130 1,252,887 1, 025, 131

817,939 1,019,566

911,578
895,206 1,120,252
717,070 1,034,736 1, 077, 146
310, 412
259, 205
165, 370
307, 692
209, 306
249, 175
132, 495
142, 589
715, 632 1,217,603 1, 879, 502 2, 196, 817 3,362,088 2,095,911 2, 168, 554
101, 707
395, 119
64,290
55, 739
241, 678
368, 895
50,504
108, 464
25, 957
30, 372
37, 076
68, 739
43,002
56, 818

+25.1 +22.9
+19.0 +50.7
-37.7
-3.3
-6.6 +561. 8
+53.2 -47.6

1,204
19, 272
21, 846
3,640
3,614
58,240

7,107
41, 745
34, 920
5,265
4,521
70,100

10, 468
22,200
18, 510
2,850
9,855
69, 539

9,356
8,090
13, 252
2,491
12, 581
68, 273

7,333
7,827
17,408
2,797
11, 725
78, 088

7,051
6,078
15, 817
2,524
9,703
98, 998

-21.6
-3.3
+31.4
+12.3
-6.8
+14.4

+4.0
+28.8
+10.1
+10.8
+20.8
-21.1

110, 428
235, 018
29, 441
87, 586
868, 119

124, 561
226, 740
32, 221
97, 139
796, 456

+12. &
—3.5
+9.4
+10.9
-8.3

2,397
1,100

2,674
1,310

2,461
1,112

1,846
739

1,832
657

1,840
675

-0.8
—11.1

-0.4
-2.7

24, 068
9,436

23, 874
9,403

-0.&

521
1,290

693
1,356

570
1,326

301
1,136

205
1,136

225
1,144

-31.9
0.0

-8.9
-0.7

3,823
14, 462

3,709
14, 349

540,945
536, 285
2,805

545,988
531, 354
1,984

512,357
486, 723
2,190

494, 665
479, 484
1,697

443,931

458,376
462, 650
1,754

-10.3

-3.2

1,975

+16.4

+12.6

5, 479, 716
5,527,014
26, 462

5, 710, 569
5, 735, 881
25, 069

-3.0
-0.8
+4.2
+3.8
-5.3

46,250

61, 198

85,977

100, 873

95,060

80,538

-5.8

+18.0

10.19
.160
.170

9.89
.170
.162

9.39
.170
.145

9.72
.170
.141

10.30
.170
.145

9.38
.170
.147

+6.0
0.0
+2.8

+9.8
0.0
-1.4

2,804
1,084

2,819
1,142

3,261
1,334

3,554
1,314

3,910
1,476

4,252
1,527

4,304
1,581

+S.7
+3.5

-1.2
-3.4

43, 929
16, 266

39, 772
15, 169

-9.5
-6.7

51
1,711

84
1,673

129
1,933

126
2,222

105
2,441

99
2,694

65
2,721

—5.7
+10.4

+52.3
- 1.0

532
27, 665

917
24, 583

+72.4

563, 719
493, 382
87,944

475, 867
537,320
93, 835

479, 917
546, 837
76, 906

568, 835
540, 331
72, 914

722, 806
783, 757
544, 773
91, 347 ~~~85~l3T

802, 879
+8.4
-2.4
566, 918
130, 829 "-6.~8~ ~-34."9~

7, 322, 711
6, 296, 542
1, 227, 217

7, 272, 533
6, 153, 884
1, 119, 854

774, 319

619, 909

477, 978

434, 972

522, 749

657, 717

620,229

+25.8

+6.0

623, 086

514, 351

405, 623

388,228

472, 757

588, 222

556, 042

+24.4

+5.8

87
3,131
14, 775
2,596
4,533
49, 157

Cattle and Calves
Cattle movement, primary markets:
Receipts
thous. of animals
1,997
Shipments, total
thous. of animals
776
Shipments, stocker and
feeder
thous. of animals
252
Local slaughter
thous of animals
1,171
Beef products:
Inspected slaughter product. thous. of Ibs.. 461, 661
Apparent consumption
thous. of Ibs.. 465, 917
Exports
thous. of Ibs..
2,168
Cold-storage holdings,
end of month
thous. of lbs_. 41, 697
Prices, Chicago:
Cattle, corn-fed
..dolls, per 100 Ibs .
8.98
Beef, fresh native steers
dolls, per lb_.
.160
Beef, steer rounds, No. 2
dolls, per lb_.
.170

-o.a

Hogs and Pork
Hog movements, primary markets:
Receipts
thous. oi animals
Shipments, total
thous of animals
Shipments, stocker and
feeder
.,
thous of animals
Local slaughter
thous of animals
Pork products, total:
Inspected slaughter product. -thous. of lbs_.
Apparent consumption
thous. of lbs_.
Exports
thous. of Ibs..
Cold-storage holdings, total,
end of month
._
thous. of Ibs..
Fresh and cured in storage,
end of month
thous. of Ibs..




11 1
-0.7
-2.3
-8.7

47

TREND OF BUSINESS MOVEMENTS—Continued
1926

The cumulatives shown are through December except where otherwise noted.
Earlier data for items shown here may
be found on pages 26 to 134 of the February, 1927, "Survey"

1927

1926

PER CENT INCREASE (+) OR
DECREASE (— )

CUMULATIVE TOTAL
FROM JANUARY 1
THROUGH DECEMBER 31

Perct.
increase
(
or1?
decrease
(-)
cumulative
1926
from
1925

September

October

November

December

January

January

Jan.,
1927,
from
Dec.,
1926

Jan.,
1927,
from
Jan.,
1926

1925

1926

97,466
61,577

92,967
46, 988

106, 061
43, 488

129, 614
62, 690

149, 149
59,842

162,314
76, 670

+15.1
-4.5

-8.1
-21.9

1,470,441
686, 809

1, 468, 910
698, 976

-0.1
+1.8

105, 558

72, 355

46,744

49, 992

69,495

64, 187

+39.0

+8.3

12.38
.320
.150

12.97
.303
.142

12.09
.293
.128

11.77
.280
.128

11.97
2.69
1.29

11.63
.278
.157

+1.7
-3.9
+0.8

+3.0
-3.2
-17.8

2,277
1,176

3,279
2,124

3,090
2,099

1,917
988

1,706
780

1, 740
819

1,548
694

+2.0
+5.0

+12.4
+18.0

22, 100
11, 711

23, 869
12, 451

+8.0
+6.3

567
1,058

1,081
1,147

1,150
999

493
932

223
934

208
921

155
856

-6.7
-1.4

+34.2
+7.6

4,333
10,400

4,611
11, 476

+6.4
+10.3

40, 260
40, 134

45,485
45, 593

43, 892
43, 825

39, 737
39, 762

45,354
44,688

44, 161

42, 684
42,526

-2.6

-3.0

467, 318
469, 674

500, 768
500, 289

+7.2
+6.5

1,929

2,234

2,314

3,166

4,556

4,429

2,354

-2.8

+88.1

5.87
13.95

5.77
13. 78

5.81
13.28

5.77
12.70

5.64
12.04

6.44
12.47

7.89
14.84

+14.2
+3.6

-18.4
-16.0

58> 557

56, 135

52, 590

53, 960

63, 846

61, 730

57, 168

-3.3

+ao

Production, inspected slaughter..thous. of Ibs.. 1, 065, 640 1, 062, 297 1, 069, 797 1,120,929 1, 262, 825 1,271,851 1, 303, 939
696, 102
Cold-storage holdings, end mo thous. of Ibs.. 725, 269 618, 970 522, 225 531,331 642,032
749,441
1,072,094
Apparent consumption.
thous, of Ibs.. 1,004,433 1, 119, 198 1, 121, 986 1, 066, 816 1, 068, 945

+0.7
+16.7

August

FOODSTUFFS— Continued
Hogs and Pork— Continued
Lard (included in pork products) :
Productionthous. of Ibs.. 114, 803
Exports
thous. of Ibs.- 54, 273
C old-storage holdings,
end of month
thous. of Ibs - 151, 233
Prices:
Hogs, heavy, Chicago dolls, per 100 Ibs
11.85
.329
Hams, smoked, Chicago
dolls, perlb..
Lard, prime contract, N. Y_ -dolls, per lb_.
.156
Sheep and Lambs
Sheep movement, primary markets:
Receipts
thous of animals
Shipments, total
thous. of animals..
Shipments, stocker and
feeder..
. , thous. of animals. .
Local slaughter- _
thous. of animals. .
Lamb and mutton:
Inspected slaughter product— thous. of Ibs. .
Apparent consumption
thous. of IDS. .
C old-storage holdings,
end of month
thous. of Ibs..
Prices:
Sheep, ewes, Chicago dolls, per 100 Ibs..
Sheep, lambs, Chicago.. .dolls, per 100 Ibs..
Miscellaneous Meats
Cold-storage holdings, end mo... thous. of Ibs..
Total Meats
-2.5 13, 269, 745 13,483,870
+7.7

+1.6

12,293,230 12, 399, 057

+0.9

320, 797

362, 138

+12.9

238, 811

263, 985

+10.5

Poultry
Receipts at five markets.
Cold-storage holdings,
end of month

thous. of lbs._

23,164

24, 579

31, 105

69, 991

76, 919

27, 704

26, 765

-64.0

+3.5

thous of Ibs

38, 634

44, 771

64,842

106, 854

144,497

144,845

108, 512

+0.2

+33.5

Total ca.tch, prin. fishing ports. ..thous. of IDS. . 32, 043
24,414
C old-storage holdings,
15th of month
thous. of Ibs.. 57, 627
64, 657
Canned salmon:
Shipments, United States
cases
840, 065 1,237,767
Exports, Canada
cases.. 100, 321 130, 796

23,762

19, 924

13, 439

18, 140

13,644

+35.0

+33.0

70,309

75, 034

69, 584

58,175

48, 181

-16.4

+20.7

836, 374
245, 660

543, 333
245,883

584, 097
121, 965

106, 145

325, 612
115, 031

-13.0

-7.7

6, 325, 309
1, 559, 792

6, 297, 670
1, 244, 968

-0.4
-20.2

571, 998

572, 934

+0.2

1, 966, 423

1, 946, 730

-1.0

-6.3
+1.9

Fish

Butter
44, 761

38, 166

34,180

36,054

37, 705

39, 424

+4.6

-4.4

138, 151
181, 506
.422

125, 342
173, 808
.446

100, 871
167, 692
.462

64, 377
158, 407
.493

34,347
156, 777
.528

17, 967

39, 381
138, 165
447

-47.7

-54.4

20, 735
36, 542

18, 231
43, 705

19, 252
45,423

15, 954
42,774

15, 984
40, 695

12, 706

14, 854
39, 057

-20.5

-14.4

221, 760
487, 636

207, 887
496, 890

98, 473
6,520
254
19, 903

95, 385
7,449
323
19, 343

89,785
9,722
252
23, 449

81,084
11, 102
341
18, 601

71, 920
10, 033
356
13, 635

61, 686
5,608
356
3, 209

67, 531
4,788
340
2,668

-14.2
-44.1
0.0
-76.5

-8.6
+17.1
+4.7
+20.3

62, 403
9,192
150, 744

78, 418 ! +25.7
3,902 -57.5
134, 658 -10.7

81, 297
.218

77,646
.231

72, 491
.246

63, 881
.245

54,596
.249

46,078

50, 339
.245

-15.6

-8.5

Receipts, 5 markets
thous. of cases
Cold-storage holdings, end mo. -thous. of cases..

1,083
9,573

932
8,048

699
5,888

581
3,215

751
1,096

970
252

906
578

+29.2
-77.0

+7.1
-56.4

15, 476

15, 601

+0.8

Milk
Condensed milk:
Manufacturers' total stocks, end of mo.:
Case goods
thous of Ibs
Bulk goods
thous of Ibs
Manufacturers' unsold stocks —
Case goods
thous. of Ibs..
Bulk goods
thous of Ibs
Exports
thous. oflbs..

40,821
23, 136

34, 106
21,478

27, 945
18,438

23, 935
213,738

19, 759
9,877

32, 545
9,148
2,139
5. 75

26, 711
8,203
3,001
5.76

23, 010
7,869
2,521
5. 85

18, 628
2 5, 016
2,939
5. 85

14, 399
3,954
3,454
5.68

-21.9
-0.9

-27.8
-6.2

42, 706

38, 713

-9.3

Receipts, 5 markets
.
.
Cold-storage holdings, creamery,
end of month
Apparent consumption
"Wholesale price 5 markets

thous. of Ibs . 50, 476
thous of Ibs
thous of Ibs
dolls per Ib

Cheese
Total, all varieties:
Tt^nflipts, 5 markftt-s
thnus. ftf Ibs
Apparent consumption
thous of Ibs
Cold-storage holdings,
end of month
thous of Ibs
Imports
thous. of lbs._
Exports, United States..
thous. oflbs..
Exports, Canada
thous of Ibs
American whole milk:
Cold-storage holdings,
end of month
thous of Ibs
Wholesale price, 5 markets. ..dolls, per lb__
Eggs

Wholftsalft Drinft. N"<vw York dolls DPT nasft

2 Revised.




22, 889
5,718

2,694
5. 63

17, 592
3,217
3,733
6.00

48
TREND OF BUSINESS MOVEMENTS—Continued
1926

The cumulatives shown are through December except where otherwise noted.
Earlier data for items shown here may
be found on pages 26 to 134 of the February, 1927, "Survey"

August

1927

1926

PER CENT INCREASE (+) OR
DECREASE (— )

Jan.,
1927,
from
Dec.,
1926

Jan.,
1927,
from
Jan.,
1926

Septem- October
ber

November

December

January January

151, 687
115, 700
5,191
4.45

128, 346
104, 385
4,657
4.41

99, 685
76, 965
6,115
4.42

71, 298
45, 225
6,499
4.48

2,939
4.50

107, 304
82, 897
5,962
4.72

-54.8
4-0.4

-50.7
-4.7

5,031
14, 146
289

5,249
12, 299
171

4,426
10, 292
213

4,366
9,610
259

268

4 368
5 726
203

+3.5

4-32.0

Per ct.

CUMULATIVE TOTAL
FROM JANUARY 1
THROUGH DECEMBER 31

increase
( }
ortdecrease
(-)
cumulative
1926
from
1925

1925

1926

105, 056

i
—'1
75, 840 -27. 8

52, 166

62,044 1 +18.9

FOODSTUFFS— Continued
Milk—Continued
Evaporated milk:
Manufacturers' stocks, end of month177, 323
Total case goods
thous of Ibs
Unsold, case goods
..thous. of lbs_. 1 132, 531
5,657
Exports
thous. oflbs..
4.36
Wholesale price New York dolls per case
Powdered milk:
5,363
Net orders
_ .thous. of lbs_.
Stocks, end of month
thous. of Ibs. _ 14, 941
196
Exports
thous. of Ibs. _
Fluid milk:
m
Receipts— ' "•'•"•
18, 027
Boston (includ cream) thous of qts
Greater New York
thous. of qts_- 110, 923
6,761
Baltimore...
thous. of qts..
Production—
Minneapolis, St. Paul thous. of lbs_. 21, 771
Consumption in manufacture of
4,651
oleomargarine
- thous. of Ibs..

3,649

-27.1

2,659

1
17, 570
107, 254
6,722

17, 758
108, 469
6,538

16, 772
101, 889
6,201

16, 349
105, 235

19,070

19, 328

19, 424

22, 562

5,991

6,504

6,891

7,262

6,287

56, 798
326, 105
448, 043
287, 655

51, 505
299, 863
471, 192
222, 129

26, 827
352, 569
347, 156
277, 687

20, 475
221, 927
271, 948
246,391

70, 187
163, 973
290, 613
177, 791

106, 156

16, 010
100, 865
6,465

4-0.9

4-5.2

198, 133
1, 243. 349
7 74, 432

208. 668
1,274.357 1
7 75, 102

+5.3
+2.5
+0.9

279, 194

297, 226

+6.5

-4.9

68, 881

71, 173

+3.3

58, 309 4-242. 8 - 4-20. 4
233, 821 -26.1 -29.9
4-6.9 -20.9
367, 439
89, 144 -27.8 4-99.4

1, 203, 087
3, 992, 536
5, 112, 905

1, 157, 832
4, 129, 500
5, 175, 129

-3.8
+3.4
+1.2

27, 188

6,616

-13.4

Sugar

Raw:
Imports—
From Hawaii and Porto
Rico
From foreign countries
Meltings, 8 ports
Stocks at refineries end mo
Receipts, domestic, at New
Orleans
Refined:
Exports, including maple

iong tons.. 58, 206
long tons.. 313, 841
longtons.. 453, 226
long tons.. 341, 803
long tons..

564

228

17,722

11, 148

1,404

28, 386

-87.4

-95. 1

59, 421

62, 173

+4.6

long tons..

7,095

5,464

4,213

2,417

5,604

5,760

6, 553

4-2.8

-12.1

338, 741

95, 483

-71. 8

.042
Wholesale 96° centrif N Y dolls per Ib
.055
Wholesale, granulated, N. YTdolls! per lb_.
.062
Retail granulated, N. Y
.dolls, per lb_.
127
Retail average 51 cities
index number
Ouban movement:
164,
744
Receipts at Cuban ports
-long tons..
Exports...
_
.long tons.. 445, 800
Stocks, end of month
.long tons.. 935, 416

.044
.056
.062
127

.046
.057
.064
129

.047
.058
.064
129

.051
.061
.065
133

.051
.062
.068
136

.042
.051
.058
122

0.0
4-1.6
4-4.6
4-2.3

+24.4
+21.6
+17.2
+11.5

186, 580
473, 190
603, 469

197, 350
434, 253
390, 989

169, 202
342, 124
225, 592

62, 829
206, 816 .
69, 741

482, 152
166, 044
298,682

611, 099 4-667. 4
-19. 3
379, 723
364, 430 4-328. 3

-21.1
-54.3
-18.0

5, 042, 852
4, 941, 517

4,611,846
4, 666, 393

-8.5
-5.6

1, 282, 987

1, 493, 316

Coffee
Imports
_._
Visible supply:
World
United States
Receipts, total, Brazil
Clearances:
Total, Brazil, for world
Total, Brazil, for U. S
Tea
Imports
Stocks, United Kingdom,
end of month

thous. of lbs_. -.122,922

157 ,

105, 163

159, 567

120, 518

136, 955

119, 872

143,268

-12.6

-16.5

thous of bags
..thous. of bags..
thous. of bags..

4,738
832
1,117

4,663
912
1, 053

4,604
899
1,108

4,564
888
1,215

4,701
978
1,389

4,605
1,014
1,127

4,753
685
1,157

-2.0
+3.7
-18.9

-3.1
+48.0
-2.6

11, 811

12,516

+6.0

thous. of bags..
thous. of bags..

1,289
684

1,240
694

1,363
780

1,269
721

1,159
716

1,214
666

1,007
572

4-4.7
-7.0

+20.6
+16.4

13, 263
7,077

13, 868
7,497

+4.6
+5.9

101, 246

95, 931

-5.2

+7.5 6, 500, 751 6, 588, 927
+4.7 79, 957, 612 89, 447, 114
410, 076
-4.1
410, 227

+1.4
+11. 9
0.0

478, 768
9, 495, 334
780, 616

+1.8
+16.6
+24.1

27, 586
14, 855
6,632
87, 676
2,370
778, 322
25, 409
5, 213, 381
6, 123, 701
1, 043, 739

+16.4
4-17. 2
+11.0
+7.1
+1.2
+27.8
-4.4
-7.5
-1.3
+14.6

9, 321, 761
2, 509, 202
24, 469, 315

+32.1
-28. 6
+10.8

thous. of lbs_.
thous of Ibs

10, 056

12, 148

11, 057

10, 737

9,559

8,876

7,546

-7.1

+17.6

156, 850

175,012

186, 861

196, 626

207, 003

222, 636

209, 037

4-7.6

+6.5

TOBACCO
Consumption (tax-paid withdrawals) :
466, 078
433, 673
Large cigars....
thousands.. 594, 242 600, 016 664, 497 654, 975 464, 574
Small cigarettes
thousands. _ 8, 068, 005 8, 086, 274 8, 060, 677 7, 345, 202 6, 391, 844 7, 269, 356 6, 943, 815
36, 224
34, 731
30, 955
33, 005
28, 218
34, 411
Manufac. tobacco and snuff.. thous. of lbs_. 35, 809
Exports:
38, 319
53, 129
49, 136
66, 337
46, 891
50, 375
Unmanufactured leaf
..thous. of Ibs. . 26,263
761, 026
851, 531
Cigarettes
thousands.. 819, 569 762, 387 654, 013 611, 998 775, 081
130,006
111, 199
Sales of loose-leaf, warehouses
thous. of lbs._ 34, 772 102, 691 131, 891 141, 000 122, 882
Price, wholesale, Burley good leaf,
21.00
21.00
21.00
21.00
21.00
21.00
21.00
dark red Louisville
dolls per 100 Ibs
Stocks (reported quarterly) :
Chewing, smoking, snuff, and
1, 312, 142
1, 416, 412
11,384,627
export types
thous of Ibs
1
389, 178
353, 973
356, 119
Cigar types
thous of Ibs
1
1,
768, 399
1, 841, 645
1,818,564
Total, incl. imported types.. thous. of lbs_.

4-0.3
4-13.7
4-17.0
4-31.7
-1.8
4-5.8

+41.5
-10.6
+17.0

0.0

0.0

+16.4
i

470, 398
8, 145, 639
628, 781

+2 3
-0.6
+1 2

TRANSPORTATION
River and Canal Cargo Traffic
Panama Canal:
2,240
2,375
2,272
-2.9
2,347
2,322
2,310
2, 242
23, 700
-4.5
Total cargo traffic
thous. of long tons..
1,255
1,195
1,233
1,317
1,327
1,152
12, 677
In American vessels thous of long tons
573
543
556
551
517
5, 976
625
In British vessels
thous of long tons
12, 789
8, 170
None.
12, 879
1,387
81, 875
Sault Ste. Marie canals. _ _ thous. of short tons.. 13, 776
416
326
None
348
None.
2,343
336
New York State canals thous. of short tons..
58, 831
79, 040
83, 218
608, 798
37, 755
79, 465
Cape Cod Canal
short tons.. 62, 004
1, 845
2,059
2,153
2,304
2,245
2,080
26, 573
Suez Canal
thous of metric tons
717, 548
579, 881
None.
630, 169
833, 591
62, 849
5, 635, 928
Welland Canal
short tons
872, 597
None.
923, 051
682, 848
798, 845
72, 276
6, 206, 988
St Lawrence Canal
short tons
57, 996
80, 000
910, 755
Mississippi River, Govt. barges
short tons.. 114, 352 110, 690 103, 960 104, 450
Ohio River, Pittsburgh, Pa., to
155, 339
621, 496
-2.8 +300. 1 7, 057, 556
Wheeling, W Va
short tons.. 1, C78, 041 927, 851 975, 225 881, 490 639, 709
24, 330
89, 242
-53.5 +266. 8 3, 514, 450
Allegheny River.
_
__ .short tons__ 295, 823 291, 111 274, 931 246. 446 191,719
Monongahela River
short tons.. 2, 289, 324 2, 317, 562 2, 303, 595 2, 192, 169 2, 115, 215 1, 935, 879 1, 487, 357 I -8. 5 ! +30.2 122, 082, 314
7
1
Eleven months' cumulative ending Nov. 30.
Quarter ending Dec. 31,1925.



49

TREND OF BUSINESS MOVEMENTS—Continued
1926

The cumulatives shown are through December except where otherwise noted.
Earlier data for items shown here may
be found on pages 26 to 134 of the February, 1927, "Survey"

1927

1926

PER CENT INCREASE (+) OR
DECREASE (— )

Jan.,
1927,
from
Dec.,
1926

Jan.,
1927,
from
Jan.,
1926

Perct;
increase
or decrease

1925

1926

cumulative
1926
from
1925

70, 247
27,947
42, 301

79, 043
28,532
50, 511

+12.5
+2.1
+19. 4

211, 137
132, 819

228, 069
162, 882

+8.0
+22.6

51, 224
2,306
1,636
9,529
3,737
2,012
13, 193
18, 813

53, 306
2,406
1,604
10, 617
3,654
2,183
13, 459
19, 381

-H*
+4.3
-2.0
+11.4
-2.2
+8.5
+2.0
+3.0

347, 568
89, 505
480, 995
378, 649
65, 725
37, 678

4,563,464
1, 056, 394
6, 188, 711
4,584,418
1, 138, 146
456, 121

4,810,492
1,043,035
6,450,466
4, 716, 859
1,232,407
488, 619

+5.4
-1.3
+4.2
+2.9
+8.3
+7.1

7,107
2,991

80, 197
35, 526

81,834
36, 073

+2.0
+1.5

0.0

1,733
3,005
1,003

2,399
3,574
1,195

+38.4
+18.9
+19.1

-54.8

1,216

1,755

+44.3

-82.4
-27.2

755
144

1,352
177

+79.1
+22.9

363

271

-25.3

September

October

November

December

January

January

7,892
2,567
5,325

7,657
2,554
5,103

7,940
2,908
5,032

7,701
3,063
4,638

6,888
2,366
4,522

5,153
1,818
3,335

4,616
1,600
3,016

-25.2 +11.6
-23.2 +13.6
-26.2 +10.6

19, 423
13, 384

11, 317
6,244

12, 414
9,648

23, 237
20,934

36, 376
31, 605

6,396
1,208

8,629
4,517

-82.4
-61.8

275

281

310

314

114, 730
62, 202
27, 519

81,011
45, 148
12, 106

144,921
98, 794
12, 521

275, 260
166, 532
61, 181

259, 548
148, 742
62, 588

542
403
100

1,945
460
1,360

579
25
516

28
None.
18

164
2
85

4,552
202
147
848
281
301
1,065
1,708

6,006
266
201
1,197
361
339
1,384
2,259

4,272
181
138
988
263
127
1,046
1,524

3,780
184
122
947
234
39
988
1,266

4,525
221
154
1,125
296
47
1,187
1,494

428, 628
98, 913
578, 823
399, 330
133, 008
43, 724

444, 142
92, 648
589, 961
397, 860
145, 492
44, 328

471, 478
82, 082
609, 045
414, 902
146, 125
48, 273

432, 666
77, 299
561, 034
402, 673
114, 734
43, 342

384, 108
89, 622
526,486
407, 302
80, 893
40,096

7,653
3,542

7,646
3,399

6,778
2,997

6,018
2,684

6,437
2,889

August

CUMULATIVE TOTAL
FROM JANUARY 1
THROUGH DECEMBER 31

TRANSPORTATION— Continued
Ocean Traffic
Clearances, vessels in foreign trade:
Total
thous. of net tons
American
thous. of net tons
Foreign
thous. of net tons
Shipbuilding
Completed during month:
Total
gross tons
Steel seagoing
gross tons
Building or under contract, end of month:
Merchant vessels
thous. of gross tons..

-25.9
-73.2

268

Freight Cars
Surplus (daily av. last week of month):
161, 478
Total.
cars
88,967
Box
cars
38, 967
Coal
cars
Shortage (daily av. last week of month) :
None.
Total
cars
Box
.
cars
None.
None.
Coal
cars
Car loadings (monthly totals):
4,418
Total
thous of cars
228
Grain and grain products.. .thous. of cars..
117
Livestock
thous. of cars..
810
Coal and coke
thous. of cars..
282
Forest products
__. thous. of cars..
310
Ore
__
thous. of cars..
1,061
Merchandise and 1. c. 1
thous. of cars..
1,609
Miscellaneous
thous. of cars..

250, 935
113, 860
92,040

-5.7' +3.4
-11.0 +30.6
+2.3 -31.0

218 +485. 7
10
170 +372. 2
4,428
226
163
997
312
47
1,173
1,510

-24.8
-80.0
-50.0

+19.7 +2.2
+20.1 -2.2
+26.2 -5.5
+18.8 +12.8
+26.5 -5.1
0.0
+20.5
+20.1 +1.2
+18.0 — 1.1

Railroad Operations
Operating revenue:
Freight
_
thous . of dolls
Passenger
thous. of dolls
Total operating
thous. of dolls. _
Operating expenses..
thous. of dolls..
Net operating income.
thous. of dolls
Freight carried
mills, ton-miles
Pullman Company operations:
Revenue
thous. of dolls..
Passengers carried .
thousands
Railway Equipment
Locomotives (Am. Ry. Assn.):
63,593
Owned, end of month
number. _ 63, 107
62, 829
62, 672
62, 428
62, 387
63,040
2,605
2,588
2,610
2,608
Tractive power
mills of Ibs
2,611
2,611
2,611
9,031
8,549
10, 074
In bad order, end mo
number..
8,654
9,320
+8.3
8,889
9,256
14.4
16.0
Per cent of total in use
per cent
14.2
13.9
15.0
14.9
+8.0
13.8
152
191
Installed
number..
175
354
206
145
224
247
512
206
Retired
number
390
450
10
278
84
52
Ordered from manufacturers
number..
30
26 -50.0
31
215
26
Unfilled orders (railroads)—
455
From manufacturers
number _ .
486
343
262
287
276
318
In railroad shops
number
67
38
72
53
100
57
56
Shipments ( Census)—
124
126 -69.2
Total
number..
134
185
57
151
128
Domestic91 -89.3
78
Steam
number..
152
124
109
16
109
11 -52.9
Electric
number
15
17
13
15
8
Unfilled orders, end of month (mfrs.)—
653
525
405
Total
number
+1.8
390
517
398
498
Domestic —
Steam
number..
455
297
334
506 +12.5
391
386
286
53 +14.3
Electric. .
number
26
24
27
14
20
16
Exports, steam
number
44
58 +141. 2
12
5
17
41
18
Freight cars (Am. Ry. Astn.):
Owned, end of month
.cars.. 2, 349, 100 2, 348, 912 2, 345, 392 2, 342, 000 2,336,470 2, 335, 923 2, 344, 016
0.0
Capacity..
mills, of Ibs.. 211, 875 21?, 082 211, 988 211,768 211, 436
211, 488
210, 009
0.0
In bad order, end mo
cars.. 161, 396 149, 078 139,484
158, 160
+4.9
137, 420
130, 416
136, 847
Per cent of total in use
per cent..
5.7
5.9
6.8
+3.5
7.0
6.5
6.1
6.0
Ordered from manufacturers
cars..
164
11, 531 +194. 9
2,564
2,732
5,831
17, 196
2,891
Shipments by manufacturers3,299 +20.8
Total
cars
8,357
2, 656
3,209
2,433
5,311
5,606
Domestic
cars..
8,308
2,376
2,450
2,968 +28.9
4,388
3,160
5,560
Unfilled orders (railroads)—
18, 481
36, 929
49, 831 +99.8
Total—
cars.. 19, 819
11, 484
11, 591
13, 468
27,069
6,975
12, 313
39, 751 +119.8
From manufacturers
cars,. 13, 816
7,046
8, 118
In railroad shops
cars..
4,616
6,003
4,438
6,168
10,080 +59.9
9,860
5,350
Passenger cars:
1
54, 314
54, 552
Owned or leased, end of quarter
.cars..
53, 938
1
314
Ordered from manufacturers
cars
32
124
105
217
199.0
131
Shipments by manufacturers191
176 -68.6
145
187
197
60
Total
... cars.
178
Domestic
cars..
114
191
187
42
157 +67.5
197
163
Unfilled orders, end of quarter
cars..
l 1, 146
766
730
i Quarter ending Dec. 31, 1925.




-8.1
-6.8

-38.0
-34.0
-69.8
-29.3

-0.3
+0.7
-13. 5
-12.2
+49.1

78, 325

56, 289

-28.1

-2.3
+6.5

77, 362
73,483

80, 100
77, 655

+3.5
+5.7

-25.9
-31.9
-2.2

-0.6
+44.7

1,615

1,412

-12.6

-65.9
-73. 2
-36.3

916
874

2,233
2,137

+143. 8
H144.5

50

TREND OF BUSINESS MOVEMENTS—Continued

1926

The cumulatives shown are through December except where otherwise noted.
Earlier data for items shown here may
be found on pages 26 to 134 of the February, 1927, "Survey"

August

Septem- October
ber

PER CENT INCREASE (+) OR
DECREASE (-)

1927

1926

January

November

December

January

51,972
6,359

Jan.,
1927,

Jan.,
1927,

Dec.,
1926

Jan.,
1926

from

from

CUMULATIVE TOTAL
FROM JANUARY 1
THROUGH DECEMBER 31

Per ct.
increase
(+)
or derease
(-)
cumu
ative
1926
from
1925

1925

1926

1, 666, 914
201, 186

1, 774, 208
312, 399

+55.3

290, 725
366, 605

336, 295
378, 175

+15.7
+3.2

81, 689
342, 830
173, 099

73, 179
367, 739
176, 033

—10.4
+7.3
+1.7

58, 189
14, 115

7 592, 829
7 142, 166

7 661, 030
7 158, 460

+11.5
+11.5

10, 430
12, 767
1,450

122, 938
151, 181
21,549

130, 950
160, 467
21, 267

+6.5
+6.1
-1.3

7 1, 038, 398 7 1, 102, 584
7 334, 536 7 362, 476

+8.4
+8.4

TRANSPOKTATION-Continued
Passenger Travel
National parks:
Visitors
Automobiles entered
Arrivals from abroad:
Immigrants
United States citizens
Departures abroad:
Emigrants
United States citizens _.
Passports issued

number. _ 434,603
number.. 77,004

212, 387
50,383

55,543
15, 620

33,088
3,658

31, 302
1,744

number..
number..

29,286
52, 683

35,297
71, 263

34,528
34, 176

30, 756
21, 844

23, 805
16,777

number __
number-number __

7,376
42, 248
9,936

6,634
26, 268
8,747

5,377
18, 150
7,896

6,859
17, 992
8,434

9,481 i
19, 608
8,431

62,009
14,848

62, 641
35,920

62, 363
15, 941

11,654
14,338
2,255

12, 205
13, 998
1,678

10, 321
12, 879
1,626

97, 752
32, 675

104,400
34, 939

105, 069
36, 582

742, 932

807, 261

791, 386

6,180
2,058
4,122

6,554
2,159
4. 395

6,450
2,234
4,217

6,767
2,384 1
4,383 1

354
5,826
133,000

380
6,174
142, 500

397
6,053

441
6,326

500
234
97
95
81
123.9
102.9
89.0

506
220
97
96
77
121.0
102.4
89.8

500
206
97
95
76
119.2
101.1
89.6

495
88
96
93
78 1
116.4
99.7
88.5

14,664
278.0
106
89
87

14, 853
285. 5
110
94
86

14,564
262.1
109
91
87

36, 238 +66.1 +43.4
2,411 +264. 6 +163. 3
19, 072
19, 695

9,053

5,286
25, 987
9,054

+7.4

0.0

+6.4

PUBLIC UTILITIES
Telephone companies:
Operating revenues
thous. of dolls.. 60, 097
Operating income.
-. .thous. of dolls.. 13, 713
Telegraph companies:
Commercial telegraph tolls.thous. of dolls.. 11, 109
Operating revenue
thous. of dolls.. 13, 663
2,351
Operating income
thous. of dolls..
Gas and electric companies:
Gross earnings ... . .. thous. of dolls.. 93, 873
Net earnings
thous. of dolls.. 25,909
Electric railways (212 companies) :
Passengers carried
thous. of persons.. 749,592
Electric power production:
6,145
Total
mills, of kw. hours..
2,088
By water power
mills, of kw. hours..
4,057
By fuels
mills of kw. hours..
In street railways, manufacturing
368
plants, etc
mills, of kw. hours..
5,777
In central stations
mills, of kw. hours..
Gross revenue sales
thous. of dolls. _ 127, 800

11, 032
13, 726
1,712

106, 975
37, 588
855,835

831, 635

820, 072

-2.8

+1.4

9, 418, 749

9, 513, 483

6,121
1,956
4,165

65, 649
22, 337
43, 312

73, 345
25, 905
47, 744

+11.7
+16.0
+10.2

438
5,683
150, 500

4,711
60, 943

4,690
68, 652

-0.4
+12.6

EMPLOYMENT AND WAGES
Employment in factories:
489
New York State
.thousands. _
239
Detroit. .
thousands..
90
New Jersey (rel. to 1923). -.index number. .
Pennsylvania (rel. to 1923) -index number. _
93
Delaware (rel to 1923)
index number..
81
125.9
Wisconsin (rel. to 1915)
index numberIllinois (rel to 1922)
index number __
100.7
85.8
Massachusetts (rel. to 1914). index numberTotal pay roll:
New York State
thous. of dolls— 14, 103
282.0
Wisconsin (rel. to 1915)
index number—
98
New Jersey (rel. to 1923). _ -index number—
87
Pennsylvania (rel. to 1923) .index number85
Delaware (rel. to 1923) .. index number—
Ohio construction employees
108
(rel. to 1923)
index number—
Federal civilian employees, Washington D C end of month
number— 60, 270
Average weekly earnings (State reports):
New York State
dolls. . 28.86
115.9
Illinois (rel. to 1922)
. .index number-228.8
Wisconsin (rel. to 1915)
index number-180.9
Massachusetts (rel. to 1914) .index number..
New Jersey (rel to 1923) ..index number. _
107
101
Pennsylvania (rel. to 1923) -index number—
99
Delaware (rel to 1923)
index number. _
Average weekly earnings (National Industrial
Conference Board):
26.76
Grand total (both sexes)
dollars—
29.39
Total male...
dollars-30.91
Skilled male
dollars23.81
Unskilled male
dollars-Total women
dollars16.91
Average weekly hours:
49.6
Nominal (both sexes)...
hours. .
47.5
Actual (both sexes)
hours. _
Wages of common labor, by geographic divisions:
New England
cents per hour..
48
Middle Atlantic
cents per hour..
47
33
South Atlantic _
cents per hour. _
24
East South Central
cents per hour28
West South Central
cents per hour—
East North Central
cents per hour..
37
36
West North Central
cents per hour..
42
Mountain
cents per hour. .
52
Pacific
cents per hour—
39
United States, average
cents per hour..
50
Wage rates, U. S. Steel Corp.. .cents per hourWages, steel workers, Youngstown
133.0
district
per cent of base..
Applicants per 100 jobs, employment agencies:
106
United States, average
— number..
118
Eastern States
number..
128
Central States
number..
81
Southern States
number
62
Western States
number..
J
Eleven
months'
cumulative
ending
Nov.
30.




485
216
95
91
78

87.9

14, 584
253.7
111
92
91

14, 286

62

107
87
87

-2.0
513
262 +145. 5
94
-1.0
92
-2.2
0.0
83
123.2
98.8
92.9
-0.7
14,905
282.3
98
88
90

76

112

101

94

85

59, 849

59, 618

59, 489

59, 569

29.31
113.2
229.3
181. 0
107
101
101

29.35
117.5
241.2
180.1
110
106
105

29.15
115.7
225.0
181.7
109
103
107

29.47
116.9
223.0
181.3
112
106
108

27.38
29.83
31.39
24.03
17.34

27.43
29.79
31.26
24.28
17. 64

27.14
29.13
30.57
23.80
17.39

27.05
29.12
30.66
23.61
17.36

27.07
29.47
31.16
23.76
17.07

49.6
48.4

49.8
48.6

49.6
47.9

49.4
47.8

4Q Q

49
47
39
25
26
37
36
44
62
39
50

49
47
27
25
29
39
36
42
52
39
50

49
49
31
25
28
40
37
43
52
39
50

54
50
36
24
27
40
35
40
52
38
50

133.0

133.0

133.0

100
105
118
85
58

104
112
122
72
65

120
122
139
102
68

133.0
134
135
157
121
78

-5.5
-17.6
+1.1
-1.1
-6.0
-5.4

-2.0

-4.2

—3. 6
-5.4
-4.4

+9.2
-1.1
-3.3

-27.1

-18.4

61, 296
29.44
114.3

178.3
109
102
104

29.05
114.3
228.6
188.8
104
100
104

-0.1
-2.2

+1.3
0.0

-1.7
-2.7
-3! 7

-5.6
+4.8
+2.0
0.0

-18.5
-8.0
-33.3
0.0
0.0
—2.5
+8.6
+7.5
-1.9
0.0
0.0

-2.2
0.0
-11.1
-14.3
+8.0
+8.3
+5.6
+2.4
0.0
+2.7
0.0
+3.5

48.5
44
46
24
24 !
27
39
38
43
51
38
50

45
46
27
28
25
36
36
42
51
37
50

133.0

128.5

0.0

160
156
203
146
78

174
138
237
139
75

+19.4
+15.6

-8.0
+13.0

0.0

+4.0

+29.3 -14.3
+20.7 +5.0

I

" ~::~::_J ::_:.

+1.0

51

TREND OF BUSINESS MOVEMENTS—Continued
1996

The cumulatives shown are through December except where otherwise noted*
Earlier data for items shown here may
be found on pages 26 to 134 of the February, 1927, "Survey"

1997

1996

PER CENT INCREASE (+) OR
DECREASE (— )

Jan.,
1927,
from
Dec.,
1926

Jan.,
1927,
from
Jan.,
1926

CUMULATIVE TOTAL
FROM JANUARY 1
THROUGH DECEMBER 31

August

September

October

November

December

January

January

35,763
32, 272
19,605
12, 667

43, 742
37,907
21, 648
16, 259

54, 743
46, 995
26,840
20, 155

55, 802
47, 869
27, 991
19, 878

60, 521
53, 086
29,983
23, 103

39,286
35, 237
22,080
13, 157

42, 315
37,858
22, 591
15, 267

-35.1 -7.2
-33.6 -6.9
-26.4 -2.3
-43.1 -13.8

518, 076
442,439
258, 343
184, 096

540, 182
471, 964
272, 700
199, 264

34, 075
2,154
19, 015
1,465
8,713
338
2,493
184
3,854
167
801
80
703
40
2,371
92

35, 202
2,172
19, 339
1,471
9,439
345
2,543
189
3,881
167
872
81
799
40
2,772
95

42, 506
2,191
24, 801
1,482
10, 535
354
2,910
187
4,260
168
1,048
81
1,025
41
3,799
101

41, 224
2,204
22, 533
1,484
10, 957
362
2,912
189
4,822
169
1,010
81
954
41
3,726
104

77, 498
2,220
41, 347
1,484
20, 451
368
6,031
199
9,669
169
2,141
81
1,821
41
6,455
106

29, 647
2,223
16, 124
1,484
7,956
370
2,275
199
3,292
170
655
81
658
44
2,205
106

27, 816
2,078
15, 162
1,423
7,451
305
2,157
183
3,046
167
567
72
641
37
2,065
77

-61.7
+0.1
-61.0
0.0
-61.1
+0.5
-62.3
0.0
-66.0
+0.6
-69.4
0.0
-63.9
+7.3
—65.8
0.0

+6.6
+7.0
+6.3
+4.3
+6.8
+21.3
+5.5
+8.7
+8.1
+1.8
+15.5
+12.5
+2.7
+18.9
+6.8
+37.7

420, 457

457, 941

238, 944

253, 360

105, 966

118, 818

82, 976
25, 793

85, 082
25, 923

93, 639
26, 114

97, 274
26, 315

104, 206
26, 357

96, 138
26, 553

80, 137
24, 327

7,548
645

7,531
652

8,078
660

7,739
704

10, 223
733

8,195
741

8,770
3,335

9,037
3,354

9,607
3,389

8,862
3,424

13, 138
3,434

2,842
563

3,313
566

3,684
566

3,501
569

1,095
60

1,244
61

1,366
62

2,353
275

2,649
274

4,426
339
13, 056
2,189

1995

1996

perct.
increase
(+)
or decrease
cumulative
1926
from
1925

DISTRIBUTION MOVEMENT
Retail Sales
Mail-order houses:
Total sales, 4 houses
thous. of dolls..
Total sales, 2 houses
thous of dolls
Sears, Roebuck & Co
thous. of dolls.I
Montgomery Ward & Co . .thous. of dolls..
Ten-cent chain stores:
Total sales (4 chains)
thous of dolls
Total stores operated (4 chains) . .number
F. W. Woolworth & Co thous. of dolls..
Stores operated.
...
number
S. S. Kresge Co
thous. of dolls..
Stores operated
number
McCrory Stores Corp
thous. of dolls..
Stores operated
number
S. H. Kress & Co
thous. of dolls.I
Stores operated
number
Metropolitan
thous. of dolls..
Stores operated
number
F. & W. Grand
thous. of dollsl.
Stores operated
number
W. T. Grant Co . _ _ _ thous of dolls
Stores operated
number
Chain stores:
GroceriesSales
thous. of dollsStores operated
number
DrugSales
thous. of dolls..
Stores operated
number
CigarSales
thous. of dolls..
Stores operated
number
ShoeSales
thous. of dolls..
Stores operated
number..
Music—
Sales
__
thous of dolls
Stores operated
number
CandySales
thous of dolls
Stores operated
number..
Restaurant chains:
Total sales (3 chains)
thous of dolls
Stores operated
number..
Average per store
dollars
Childs Co., sales
thous. of dolls
Waldorf System (Inc.),
sales
thous. of dolls..
J. R. Thompson Co.
sales
_ __
thous of dolls
Other chain stores:
Isaac Silver & Bros
thous. of dolls..
Stores operated
number..
Hartman Corporation
thous. of dolls..
Stores operated
number..
J. C. Penny Co
thous of dolls
Stores operated
numberUnited Cigars Stores Co. _ -thous. of dolls..
Stores operated
number..
A. Schulte (Inc.)
thous. of dolls..
Stores operated
number..
Owl Drug Co
thous. of dolls..
Stores operated
number __
Advertising

+4.3
+6.7
+5.6
+8.2
+8.9
+6.0
+12.1

29, 584

33,513

45, 963

51, 870

+13.3
+12.9

8,779

11,008

+25.4

8,534

10, 497

+23.0

30, 164

35, 907

+19.0

-7.7 +20.0
+0.7 +9.2

889, 126

1, 066, 495

+19.9

6,978
612

-19.8 +17.4
+1.1 +21.1

79,437

88,144

+11.0

7,963
3,411

7,545
3,265

-39.4
-0.7

+5.5
+4.5

100,845

109,509

+8.6

5,029
576

2,486
576

2,524
522

-50.6
0.0

-1.5
+10.3

39,052

41,418

+6.1

1,318
62

2,018
61

852
61

911
60

-57.8
0.0

-6.5
+1.7

13, 208

13,926

+5.4

2,754
263

2,818
254

3,684
259

2,163
243

2,028
232

-41.3
-6.2

+6.7
+4.7

27, 992

31,332 1

+11.9

4,622
342
13, 515
2,289

4,748
343
13, 843
2,310

4,491
342
13, 132
2,181

4,760
344
13,837
2,321

4,573
346
13, 217
2,214

4,440
336
13, 214
2,120

-3.9
+0.6
-4.5
-4.6

+3.0
+3.0
0.0
+4.4

50, 168

53, 822

+7.3

24, 339

25, 976

1,084

1,162

1,194

1,117

1,177

1,134

1,126

-3.7

+0.7

12,833

13,464

+6.7
+4.9

1,153

1,171

1,244

1,193

1,262

1,225

1,194

-2.9

+2.6

12,997

14, 382

314
16
1,643
15
8,083
721
6,472
3,039
2,260
287
1,403
91

373
17
2,054
15
10, 622
735
6,560
3,059
2,442
' 286
1,423
94

511
17
1,596
15
13, 247
743
6,878
3,091
2,693
289
1,597
95

480
18
1,393
15
13, 334
743
6,517
3,125
2,312
291
1,347
94

951
19
1,496
15
15, 986
747
9,478
3,134
3,574
292
1,949
95

281

-70.5 +29.5

3,946

4,896

5,723
3,109
2,204
294
1,318
95

217
14
925
16
4,967
671
5,608
2,985
1,895
269
1,261
88

1,689
91, 763

2,138
104, 106

2,626
123, 300

2,703
111,157

2,373
107, 351

1,821
97, 140

1,778
101, 885

26,426
8,200
1,857

28, 875
6,411
1,867

32,098
6,098
1,396

29, 977
4,338
1,352

21, 513
2,486
1,372

22, 953
5,352
1,028

2,552
505
2,999
385
284
57
68
835
2,065
32

2,442
741
3,229
188
799
353
191
1,698
1,584
218

2,124
784
3,983
219
1,089
458
321
2,367
1,665
228

2,875
865
3,591
281
463
377
416
2,480
2,060
223

1,748
927
2,281
395
247
261
501
2,628
1,972
269

1,257
905
2,239
315
148
26
184
1,370
1,275
116

3,369
44
3,174

4,197
186
4,771

6,345
317
4,704

6,464
171
4,021

3,231
97
3,098

thous. of dolls..

26, 714

29, 976

32, 860

31, 868

thous. of dolls..

3,003

3,169

3,421

3,223

Magazine advertising..
...thous. of linesNewspaper advertising
thous. of linesNational advertising in newspapers:
Total
thous. of lines..
Automobile advertising
thous. of lines
Automobile accessories
thous. of linesCigars, cigarettes, and
tobacco
thous. of linesFinancial
thous of lines
Food, groceries, beverages thous of lines
Hotels and resorts
thous. of linesHousehold furniture
thous. of linesMen's clothing
thous. of lines..
Musical instruments
thous. of lines..
Radio and electrical
thous. of lines..
Railroads and steamships... thous. of lines..
Shoes
thous. of lines..
Toilet articles and medical
preparations
thous. of lines..
Women's wear
thous. of linesMiscellaneous
thous. of lines. _

+10.7
+24.1

-43.7

-9.0

17, 611

18, 854

+7.1

-61.0

+25.5

90, 462

115, 671

+27.9

-39.6 +2.1
-0.8 +4.2
-38.3 +16.3
+0.7 +9.3
-32.4
+4.5
0.0 +8.0

75, 195

80, 245

24, 942

28, 748

16, 851

16, 934

+6.7
+15.3
+0.5

-23.3
-9.5

+2.4
-4.7

25, 122
1, 222, 992

27,267
1, 270, 744

+8.5
+3.9

24, 543
+6.7
6,063 +115. 3
760 -25.1

-6.5
-11.7
+35.3

348,412
70, 939
18, 316

1,621
1,153
2,610
413
150
30
86
1,310
1,401
56

-28.1
-2.4
-1.8
-20.3
-40.1
-90.0
-63.3
-47.9
-35.3
-56.9

-22.5
-21.5
-14.2
-23.7
-1.3
-13.3
+114.0
+4.6
-9.0
+107. 1

28, 247
10,398
44, 184
5,152
7,071
3,880
2,487
17, 372
23, 890
2,104

5,312
31
3,395

5,905
26
2,959

+64.4 -10.0
-68.0 +19.2
+9.6 +14.7

64,293
1,853
47, 226

40, 282

30,394

29, 116

-24.5

+4.4

345,975

367, 258

+6.2

4,340

3,317

3,193

-23.6

+3.9

36, 810

39, 290

+6.7

842
6,233

Postal Business
Postal receipts, 50 selected
cities
Postal receipts, 50 industrial
cities



52
TREND OF BUSINESS MOVEMENTS—Continued
1927

1936

The cumulative* shown are through December except where otherwise notedEarlier data for items shown here may
be found on pages 26 to 134 of the February, 1927, "Survey"

August

PER CENT INCREASE (+) OR
DECREASE (— )

1926

Perct
increase
(+)
or decrease
(-)
cumulative
1926
from
1925

CUMULATIVE TOTAL
FROM JANUARY 1
THROUGH DECEMBER 31

Septem- October
ber

November

December

January

January

Jan.,
1927,
from
Dec.,
1926

Jan.,
1937,
from
Jan.,
1926

1925

1926

DISTRIBUTION MOVEMENT-Contd.
Postal Business— Continued
Money orders:
Domestic paid (50 cities) —
Quantity..
... . number..
Value.
thous. of dolls..
Domestic issued (50 cities)—
Quantity
..number..
Value
thous. of dolls. _

9,417
77, 674

9,972
83, 963

11, 447
97, 263

11,681
97, 465

13, 338
104, 807

10, 557
80, 473

78, 898

10, 607

-20.9
-23.2

-0.5
+2.0

133, 937
975, 459

132,099 !
1, 047, 647

2,892
31, 517

2,895
31, 712

3,208
34, 551

3,320
35, 336

3,658
37, 139

3,303
34, 001

3, 088
31, 189

-9.7
-8.4

+7.0
+9.0

37, 265
373, 126

38, 101
398, 116 i

165, 213
1,367

186, 892
1,419

144, 458
1,211

144, 985
1,241

181, 318
1,438

180, 048
1,397

159, 038
1,339

-0.7
-2.9

+13.2
+4.3

198, 686
719, 203
157
918, 046

221, 457
257, 407
184, 843 219, 049
870, 324
837, 252
714, 041 822, 459
182
157
183
456
899, 041 , 041, 691 1, 091, 963 1, 095, 115

184, 846
203, 822
658,988
817, 246
200
192
863, 002 1, 002, 292

-20.8
-21.3
-57.9
-21.2

958, 771
40, 882

946, 627
47, 743

, 085, 721 1, 162, 144 1, 308, 936
214, 277
44, 213
70, 363

914, 777 1, 042, 886
40, 794
51, 967

-30.1 -12.3 12, 768, 957 12, 758, 699
752, 280
-75.7 +27.4
546, 391

595, 929
199, 076
55, 632
850, 637

523, 915
197, 277
73, 456
794, 648

618, 041
226, 523
62, 353
906, 917

791, 370
629, 860
235, 691 227, 273
100, 448 262, 452
965, 999 1, 281, 095

117,851
43, 419
4,102
165, 372

118, 023
40, 827
3,783
162, 633

125, 689
43, 988
4,735
174, 412

127, 489
45, 281
4,327
177, 097

10, 050

10, 141

10, 237

10, 333

9 481

4,290
1,577
2,713

4,335
1,579
2,756

4,405
1,581
2,824

4,463
1,585
2", 878

3,913
1 527
2,386

3,907
948
2,137
710
112

3,924
948
2,148
715
113

3,941
937
2,156
729
119

3,957
936
2,161
740
120

3 807
1,043
2,046
607
111

1,194
659

1,202
680

1,210
681

1,219
694

1 122
639

649, 023
241, 270
145, 015
107,354
84, 572
70, 812
36, 010

597, 667
222, 265
132, 004
104, 268
76, 904
62, 226
34, 878

656, 362
262,334
145, 635
100,446
81, 621
66, 326
40, 226

691, 520
283, 297
153, 194
102, 894
84, 462
67, 673
44,251

+7'. 4
+2.2
+6.7

Wholesale Trade
Delinquent accounts, electrical trade:
Amount
dollars..
Number of
firms
number..
BANKING AND FINANCE
Life Insurance
(Association of Life Insurance Presidents)

Policies, new (45 companies) :
Ordinary
number of policies
Industrial
number of policies. _
Group
number of contracts
Total
number of policies and contracts..
Policies and certificates issued:
Total policies and Certificates
number..
Group insurance certificates. _ .certificates. .
Amount of new insurance (45 companies) :
Ordinary
thous of dolls
Industrial —
_
thous. of dolls _
Group.
_
thous. of dolls..
Total insurance
thous. of dolls
Premium collections (45 companies) :
Ordinary.
thous. of dolls..
Industrial
thous of dolls
Group
thous. of dolls
Total
thous. of dolls .
Admitted life insurance assets (41 companies) :
Grand total
mills of dolls
Mortgage loansTotal
mills of dolls
Farm
mills of dolls
All other
mills of dolls
Bonds and stocks (book value) —
Total
mills of dolls
Government
mills of dolls
Railroad
mills of dolls
Public utilities
mills of dolls
All other
mills of dolls
Policy loans and premium
notes
mills of dolls
Other admitted assets
mills of dolls

598, 751
173, 943
94, 445
867, 139

154, 534
73, 947
7,683
236, 164

—24.3
-23.5
-64.0
-32.3

560, 289
227, 158
56, 280
843, 727

+6.9 7, 398, 614 7, 782, 306
-23.4
2, 359, 174 2, 565, 324
+67.8
998, 784 1, 050, 605
+2.8 10, 756, 572 11, 398, 235

+2.0
-2.8
+18.5
-1.8
-0.1
+37.7
+5.2
+8.7
+5.2
+6.0

1, 570, 579
537, 302
58, 712
2, 166, 593

+4,6
+14.5
+5.8
+6.9

+10.3 2, 570, 010 2, 620, 780
-19.4 9, 652, 556 9,385,639
1,984
-4.0
2,351
-13.9 12, 224, 550 12, 008, 770

1, 501, 431
469, 425
55, 504
2, 026, 358

124, 695
41, 247
5,007
170, 949

1
I

(Lije Insurance Sales Research Bureau)

Sales of ordinary life insurance (81 companies) :
United States total
thous. of dolls..
E astern manuf. district -thous. of dolls..
Western manuf. district.thous. of dolls. .
Western agric. district- -thous. of dolls. .
Southern district
thous. of dolls..
Far Western district
thous. of dolls..
Canada total, 15 companies.thous. of dolls..

879, 049
356, 488
189, 106
133, 132
112, 856
87, 467
47,366

601, 985
257, 734
133, 912
86, 167
66, 112
58, 060
36, 986

8, 408, 759 I +4.2
+4.7
3, 358, 503
+5.8
1, 829, 684
+2.7
1, 322, 084
1, 057, 591
+3.3
+3.1
840, 897
471, 649 +11.0

-31.5
-27.7
-29.2
-35.3
-41.4
-33.6
-21.9

+5.1
+6.7
+10.3
+1.1
-4.0
+4.4
+9.1

8, 067, 434
3, 209, 155
1, 728, 855
1, 287, 326
1, 023, 740
815, 349
424, 872

-4.0
-4.2

+2.4
-0.7

313, 372
256, 415

339, 056
268, 935

+8.2
+4.9

1 -4.3
i -4.4
-12.6

-5.7
-4.5
+11.8

283, 649
219, 064
16, 130

290, 354
223, 998
16,970

+2.4
+2.3
+5.2

-48.7
-9.1
-13.2
+6.4
-4.3
+13.6

-18.7
+.1.3
-9.4
+6.1
-1.2
+6.1

-2. 5
0.0
-1.6

+1.8
+1.1
-1.2

-4. 7

-10.7

-2.0

-11.8

572,639
241, 508
121, 408
85, 239
68, 874
55, 610
33, 907

Banking
Debits to individual accounts:
32, 577
30, 538
31, 258
New York City...
mills of dolls
28, 755
25, 790
26, 233
25, 618
23, 754
24,464
23, 426
23, 581
Outside New York City
mills, of dolls.. 20,755
21, 568
21,311
Bank clearings (United States):
27, 101
26,715
25, 562
21,360
24, 333
22, 252
New York Citv—
mills, of dolls
21, 676
18,894
19, 791
19, 754
19, 757
Outside New York City
mills, of dolls.. 17. 472
17, 966
18, 236
1,454
1,300
1,579
1,669
1,664
1,320
Bank clearings (Canada)
.mills, of dolls..
1,345
Federal reserve banks:
449
711
365
632
645
717
Bills discounted
mills of dolls
620
1,667
1,772
1,857
1,688
Notes in circulation
mills1 of dolls
1,703
1, 731
1,716
607
670
677
610
699
Total investments
mill* of dolls
581
576
2,954
3,133
2,953
2,956
2,944
2,937
2,966
Total reserve
mills of dolls
2,272
2,245
2.324
2,346
2,282
2,330
2,281
Total deposits
mills of dolls
75.0
73.6
72.2
70.1
79.6
Reserve ratio
per cent
74.4
72.6
Federal reserve member banks:
14,314
13, 949
14, 375
14,569
14, 200
14, 179
14,395
Total loans a/nd discounts mills of dolls
5,521
5,541
5,540
5,478
5,634
5,578
5,599
Total investments
mills of dolls
13, 034
12, 918
13, 033
13, 082
12, 879
13,003
12, 961
Net demand deposits
mills of dolls
Brokers' loans, end of month":
To New York Stock
Exchpnse members
thous of dolls 3, 142, 148 3, 218, 937 3, 111, 177 3, 129, 162 3, 292. 860 3, 138, 786 3, 513, 174
By New York F. R. member
banks
thous of dolls 2, 758, 274 2, 812, 971 2, 602, 196 2, 646, 653 2, 787, 761 2, 731, 940 3, 098, 192
Interest rates:
4.50
4.75
4.59
5.15
4.28
4.59
4.90
New York call loans
per cent
4.44
4.38
4.43
4.50
4.38
4.13
4.31
Commercial paper 4-6 mos
per cent
4.00
4.00
4.
CO
4.00
4.00
4.00
4,00
N Y Fd Res Bk
per cent
5.25
5.25
5.25
5.25
5.25
5. 25
5.25
Federal
land
banks
per
cent
Intermediate credit banks
5.00
4.50
4.50
4.50
4.50
4.50
_ T>er cent .
4.50


I
1

;

-4.9
-5.7
0.0
0.0
0.0
0.0 1 -10.0

j

-16.9
-5.7

o.o

!

!

53

TREND OF BUSINESS MOVEMENTS—Continued
1926

PEE CENT INCREASE (+) OE
DECEEASE (— )

1997

1926

January

January

Jan..
1927,
from
Dec.,
1926

Jan..
1927,
from
Jan.,
1926

thous. of dolls 3 729.404 3, 778, 911 3, 778, 155 3, 791, 144 3,862,801 3,888,740 3, 593, 530

+0.7

+8.2

The cumulatives shown are through December except where otherwise noted.
Earlier data for items shown here may
be found on pages 26 to 134 of the February, 1927, "Survey"

August

September

October

November

December

CUMULATIVE TOTAL
FROM JANUARY 1
THROUGH DECEMBER 31

1925

1926

Perct.
increase
(+)
or decrease
(-)
cumulative
1926
from
1925

BANKING AND FINANCE-Continued
Savings Deposits
New York State savings
banks, end of month .

Public Finance
Government debt, gross
Customs receipts
Total ordinary receipts. _
Expenditures chargeable to
ordinary receipts.
Money in circulation:
Total
Per capita.

mills, of dolls.. 19, 534
thous. of dolls.. 51,815
192,954,
thous. of dolls

19,473
55,596
576, 528

19,420
60, 969
192,9] 9

19, 389
52, 655
176, 002

19, 075
48,431
657, 096

]9,169
44, 695
169,583

20, 283
46,399
186, 283

+0.5
-7.7
-74.2

-5.5
-3.7
-9.0

570, 827
3, 827, 120

605, 627
4,084,591

+6.1
+6.7

thous. of dolls

254, 802

290,465

367, 595

364,250

414,032

304,254

232, 847

-26.5

+30.7

3, 600, 102

3, 614, 142

+0.4

mills, of dolls
. . .dollars

4,864
42.02

4,906
42.34

4,933
42.53

4,949
42.62

5,001
43.03

4,713
40.51

4,740
41.24

-5.8
-5.9

-0.6
-1.8

29, 990

33, 231

32, 694

45, 620

51, 290

43, 651

+12.4

+17.5

443, 744

409, 233

-7.8

10, 093
11, 242
8,654
73, 651
1,298

11, 650
15, 874
5,707

36,097
14, 158
2,439

19, 996
24,530
6,764

2,486

2,691

16, 758
20, 579
8,282
82, 221
3,108

16, 084
21,512
6,056
i 66, 301
2,677

+19.3
+19.2
18 3
+11.6
+2.1

+24.3
+14.0
+11.7
+24.0
+18.6

167, 685
215, 371
60, 700
364,699
35, 878

158, 132
201, 344
49, 857
212, 075
28, 432

-5.7
-6.5
-17.9
+28.8
-20.8

1,437
374
958
105
169
142

1,763
450
1,205
108

1,830
440
1,285
105

2,465
501
1,842
122

188

188

2,069
494
1,469
106
230
208

222

2,296
510
1,696
90
U63
249

+19.1 +7.4
+1.4 -1.8
+25.4 +8.6
+15.1 +35.6
+36.1 +41.1
+6.7 -10.8

21, 214
5,090
15, 161
963
464
2,114

21, 773
5.395
15, 266
1,112
608
2,108

+2.6
+6.0
+0.7
+15.5
+31.0
-0.3

447,500

330, 900

340, 681

579, 850

242, 350

220,215

-58.2

+10.1

4, 085, 908

4, 337, 410

+6.2

106, 650
68,300
27, 050
11, 300

78, 600
34, 700
35, 750
8,150

79, 050
56, 450
16,425
6,175

178, 900
73, 000
30, 900
19, 200

87, 350
47, 600
31, 650
8,100

83, 715
46, 075
30, 215
7,425

-51.2
-34.8
+2.4
-57.8

+4.3
+3.3
+4.7
+9.1

1, 072, 575
596, 050
315,015
93, 340

1, 120, 887
620, 190
330, 340
101, 955

+4.5
+4.0
+4.9
+9.2

18.32

+3.7

-5.0

Business Failures
Liabilities:
Total commercial
thous. of dolls.. 28, 130
Manufacturing establishments
thous. of dolls
12,616
Trade establishments
thous. of dolls
14, 096
Agents and brokers. _
thous. of dolls
1,519
Banks (quarterly)
thous. of dolls..
Liabilities (Canada) _ _
thous. of dolls ~"~I,~49T
Firms:
Total commercial
number
1,593
Manufacturing establishments number..
449
1,071
Trade establishments . .
number
Agents and brokers
number..
73
Banks (quarterly).. ,
. number
141
Firms (Canada)
number..

3, 174

Dividend and Interest Payments
(For the following month)
Grand total
._
thous. of dolls.. 321, 542
Dividend payments:
Total _
thous. of dolls
72. 800
Indus, and misc. corp . thous. of dolls
47, 050
Steam railroads
thous. of dolls
18, 500
Street railways
thous. of dolls
6,250
Aver, payments on industrial
stocks (qtly.)
.dolls, per share _

7.62

7.90

New Security Issues
Foreign governments
Total corporation.
.
Purpose of issueNew capital
Refunding
Kinds of issueStocks
Bonds and notes
Class of industryRailroads
_
Public utilities
Industrials
Oil
Land and buildings
Shipping and misc
Bond issues (Canada):
Govt. and provincial
Municipal
Corporation
States and municipalities:
Permanent loans
Temporary loans
New incorporations

thous. of dolls
thous. of dolls

34,000
243,450

74, 900
328, 706

118, 000
350, 483

24, 240
595, 237

47, 492
429, 304

52,383
610, 035

24,972
614, 549

+10.3 +109. 8
+42.1 -0.7

645, 381
4,738,111

514, 124
5, 299, 554

-20.3
+ 11.8

thous. of dolls
thous of dolls

176, 155
67,295

283, 231
45,474

276, 706
73, 776

330, 694
264, 543

353, 228
76, 076

507, 503
102, 532

545, 843
68, 707

+43.7 -7.0
+34.8 +49. 2

4, 100, 724
637,384

4, 357, 003
942, 552

+6.2
+47.9

thous of dolls
thous. of dolls. _

46, 507
196, 943

48, 327
280,379

58, 490
291,993

203,909
391,328

94, 969
334,335

108, 511
501, 524

171, 742
442, 807

+14.3
+50.0

-36.8
+13.3

1, 310, 972
3, 427, 139

1, 317, 773
3, 981, 765

+0.5
+16.2

thous. of dolls..
thous of dolls
thous . of dolls _ .
thous. of dolls
thous. of dolls. _
thous. of dolls..

15, 085
69, 434
66, 035
10,500
52, 628
29, 618

61, 706
45, 930
114, 938
48, 537
57, 595

12, 190
147, 311
55, 117
31,212
80, 142
17, 260

27,821
162,328
73, 058
230, 968
51, 068
49, 494

43, 170
136, 656
78, 624
50,000
65, 993
54, 861

9,346
309, 084
106, 350
68, 588
74, 381
40, 286

46, 670 -78.4
206, 246 +126. 2
151, 052 +35.3
43, 857 +37.2
58,331 +12.7
81, 229 -26.6

-80.0
+49.9
-29.6
+56.4
+27.5
-50.4

514, 709
1, 725, 033
922, 639
282, 539
752, 659
475, 481

422, 583
1,974,450
1, 067, 250
499, 717
736, 168
556, 175

-17.9
+14.5
+15.7
+76.9
-2,2
+17.0

thous. of dolls
thous of dolls
thous. of dolls

1,051
11, 949

3, 771
51, 713

6,000
3,374
33, 960

2,540
12,967
415

2,827
4,712
5,460

35, 611
13, 485
110

+584. 8
5,200
12, 615 +186. 2
+6.9
8,725
-98.0 -98.7

266, 267
46, 786
155,956

178, 760
62, 909
265, 757

-32.9
+34. 5
+70.4

68, 853
38, 055
505, 770

135, 129
54, 613
580, 387

105, 076
42, 075
901, 303

71, 826
11,882
552, 787

147, 247
70, 149
851, 660

1, 404, 704 1,362,139
866, 062
661, 212
9, 881, 203 10,947,210

-3.0
-23.7
+10.8

thous. of dolls
thous. of dolls..
thous. of dolls..

163, 712
75, 050
13,476
79, 824
739, 730 1, 040, 096

+11.2 +118. 1
-80.8 -83.1
-13.1 -28.9

Agricultural Finances
Loans outstanding, end mo.:
Federal farm loan banks.. .thous. of dolls.. 1, 053, 336 1, 057, 217 1, 063, 056 1, 068, 596 1, 077, 819 1, 085, 170 1, Oil, 088
Joint-stock land banks
thous. of dolls. _ 610, 794 614, 639 619, 217 624, 230 632, 476
555, 756
Federal intermediate credit
banks
thous. of dolls . 78, 083
84, 665
78, 490
87, 977
92, 434
93, 013
79, 935
War finance corporation thous. of dolls. . 10, 504
9,154
9,629
8,421
7,671
7,310
14, 637

+0.7

+7.3

+0.6
-4.7

+16.4
-50.1

Stocks and Bonds
Stock prices, average daily closing:
25 industrials, average
dolls, per share
25 railroads, average
dolls, per share..
103 stocks, average
dolls, per share-Southern cotton mill
stocks
dolls, per share-Stock sales:
N. Y. Stock Exchange thous. of shares..
» Quarter ending Dec. 31,1925.




172. 22
96.14
115. 64

172. 26
99.43
• 114.48

164. 63
94.93
111.61

171.95
97.43
115. 32

179. 36
100. 25
117. 43

175. 39 *
101. 55
115. 29

179. 90
92.40
120. 42

-2.2
+1.3
-1.8

-2.5
+9.9
-4.3

110.33

110. 68

110. 67

110. 79

110. 46

109. 72

120. 49

-0.7

-8.9

44, 189

36, 904

40, 213

31,183

41,891

34, 757

39, 088

-17.0

-11.1

!

452, 212

449, 104

-0.7

54

TREND OF BUSINESS MOVEMENTS—Continued
1926

The cumulatives shown are through December except where otherwise noted.
Earlier data for items shown here may
be found on pages 26 to 134 of the February, 1927, "Survey"

August

1927

1926

PEE CENT INCREASE (+) OE
DECREASE (— )

Jan.,
1927,

Jan.,
1927,

Dec.,
1926

Jan.,
1926

262, 897
29,680
292, 577

+9.0
-0.2
+8.3

+24.0

91.97
83.52
76.66
79.51
82.52

87.99
79.22
71.99
76.80
78.59

+0.9
+1.2
+0.1
+0.8
+0.7

+4.5
+5.4
+6.5
+3.5
+5.0

Septem- October

November

December

175, 594
14,060
189, 654

217,302
15, 870
233, 172

272, 138
17, 457
289, 595

299,088
25,403
324,491

326,065
25, 349
351,414

89.36
81.23
74.67
77.82
80.42

89.52
81.33
74.29
77.59
80.31

90.42
82.27
75.60
78.60
81.36

91.19
82.51
76.59
78.89
81.95

January January

from

from

Perct.
increase
or<•#
decrease
(-)
cumulative
1926
from
1925

CUMULATIVE TOTAL
FEOM JANUAEY 1
THROUGH DECEMBER 31

1925

1926

BANKING AND FINANCE-Continued
Stocks and Bonds— Continued
Bond sales:
Miscellaneous
thous . of dolls. _ 203,543
Liberty- Victory
. thous. of dolls.. 11,906
Total
thous. of dolls
215,449
Bond prices:
Highest-grade rails. p. ct. of par, 4% bond..
89.23
Second-grade rails.. p. ct. of par, 4% bond..
81.20
Public utility
p. ct. of par, 4% bond..
74.78
78.09
Industrial
p. ct. of par, 4% bond..
Comb, price index. _p. ct. of par, 4% bond..
80.48

-14.6
+20.1

-7.0

3,079,451 2,864,807
354,039
255,729
3,433,490 3, 120, 545

-27.8
-9.1

(For 1st of following month)
5 Liberty bonds
.p. ct. of par..
16 foreign governments and
city
p. ct. of par..
Comb, price index, 66 bonds.. p. ct. of par_.
Municipal bond yield
per cent..
Long-term real estate bonds issued:
Grand total
...thous. of dolls..
Purpose of issue—
Finance construction.. .thous. of dolls..
Keal estate mortgage... thous. of dolls..
Acquisitions and
improvements
thous. of dolls. _
Kind of structure—
Office and other
commercial..
.thous. of dolls..
Hotels
.
_ thous. of dolls..
Apartments
thous. of dolls..

102. 56

102. 27

102. 62

102. 88

103.50

103. 31

102. 35

-0.2

+0.9

103.61
99.08
4.12

103.64
99.01
4.16

103.80
99.41
4.16

103.92
99.74
4.14

104.04
100.14
4.13

105.23
100.38
4.08

103. 26
98.77
4.17

+1.1
+0.2
-1.2

+1.9
+1.6
-2.2

48, 220

42,606

67, 545

40,330

55, 715

67,960

53,927

+22.0 +26.0

695,556

644,411

-7.4

18, 845
18,760

27,700
7,021

24,015
19, 160

30,375
4,845

32,805
8,100

36, 767
17,480

38, 767 +12.1
-5.2
8,663 +115. 8 +101. 8

399, 867
151, 351

353,762
127, 714

-11.5
—15.6

8,000

2,385

14,300

4,110

4,150

6,663

4,522

+60.6 +47.3

86, 798

82,330

-5.1

8,915
8,960
7,070

21, 350
1,630
4,270

14, 105
5,175
11, 320

23,910
6,235
5,945

22, 475
4,660
7,670

23, 295
4,050
11, 827

27, 342
9,490
11, 318

+54.2

+3.6
-13.1

-14.8
-57.3
+4.5

262, 702
117, 136
97, 862

261, 676
103, 643
87, 126

-0.4
-11.5
-11.0

Corporation Stockholders
Pennsylvania Railroad Co.:
Domestic
number..
Foreign
number
U. S. Steel Corp. common stock:
Domestic
number
Foreign
_
number..
Shares held by brokers
per ct. of total-American Telephone & Telegraph Co.:
Domestic
number
Foreign
_ .
number..
GOLD AND SILVER
Gold:
Domestic receipts at mint fine ounces.. 97,426
Rand output
thous. of ounces
844
11, 979
Imports ...
thous. of dolls. _
Exports
thous. of dolls.. 29, 743
Silver:
ProductionUnited States
thous. offineoz__ 5,270
2,142
Canada
thous. of fine oz__
6,134
Mexico
_ ._ . thous. offineoz_
Stocks, end of month—
575
United States
thous. of fineoz..
738
Canada
.
thous. offineoz.
5,988
Imports
thous. of dolls..
8,041
Exports
thous. of dolls
.624
Price at New York
dolls, perfineoz__

140, 153
2,892

141, 202
2,913

i 141, 725
i 2, 986

+0.7
+0.7

-0.4
-2.4

84,287
1,572
29.01

84, 447
1,582
28.99

1 89, 057
i 1, 504
i 27. 60

+0.2
+0.6
-0.1

-5.2
+5.2
+5.0

385, 907
4,937

393, 843
5,084

i 357, 242
i 4, 347

111, 657
840
15, 987
23, 081

108, 741
853
8,857
1,156

104, 230
840
16, 738
7,727

88,307
836
17, 004
7,196

80, 777

4,860
1,926
7,632

5,114
2,030
9,612

4,757
1,742
9,883

5,637
1,639
9,000

5,841
1,290

336
775
7,203
7,243
.606

543
1,343
5,098
7,279
.545

242
1,085
3,941
6,794
.541

326
941
4,430
5,610
.535

699
1,300
5,401
7,388
.558

4.86
.028
.033
.028
.401
.268
.193

4.85
.029
.037
.027
.401
.268
.193

4.85
.029
.041
.028
.400
.267
.193

4.85
.034
.042
.139
.400
.267
.193

4.85
.040
.044
.139
.400
.267
.193

4.85
.040
.043
.139
.400
.267
.193

4.86
.038
.040
.045
.402
.268
.193

0.0
0.0
-2.3
0.0
0.0
0.0
0.0

-0.2
+5.3
+7.5

.478
.364

.484
.363

.487
.362

.491
.360

.489
.361

.488
.364

.442
.367

-0.2
+0.8

+10.4
-0.8

1.001
.920
.154
.121

1.001
.922
.152
.121

1.001
.928
.140
.121

1.001
.924
.130
.121

.999
.933
.119
.120

.998
.939
.117
.120

.998
.941
.148
.120

-0.1
0.0
-0.2
+0.6
-20.9
-1.7
0.0
0.0

61, 962
14, 890

86, 054
-8.5
-6.1
796
19, 351 +264. 4 +220. 2
3,087 +106. 9 +382. 3

1, 052, 310
9,599
128, 274
262, 639

1, 024, 680
9,961
213, 506
115,708

+66.4

+13.2
+14.6

61, 378
15, 928
92, 885

60, 918
21, 255
97, 939

+33.4

927 +114. 4 - 24.6
749 +38.2 +73.6
5,763 +21.9
-6.3
9,763 +31.7 -24.3
.678
+4.3 -17.7

64, 596
99, 127

69, 596
92, 257

+7.7
-6.9

5,162
1,126
5,562

+3.6
-21.3

FOREIGN EXCHANGE RATES
Europe:
England
dolls, per £ sterling..
France _
._
dolls, per franc. _
Italy
dolls, per lire
Belgium
dolls, per franc..
Netherlands
_ dolls, per guilder
Sweden
.
dolls, per krone
Switzerland
dolls, per franc..
Asia:
Japan
dolls, per yen..
India
dolls, per rupee
Americas:
Canada
dolls, per Canadian doll
Argentina
. . -- dolls, per gold peso .
Brazil
_.
dolls, per milreis..
Chile—
dolls, per paper Deso..
i Quarter ending Dec. 31, 1925.




i

+2.1 +10.2
+3.0 +17.0

-0.5
-0.4
0.0

-2.6
+3.8

-55.9

-0.7

+5.4

55

TREND OF BUSINESS MOVEMENTS—Continued

1927

1926

The cumulative^ shown are through December except where otherwise noted.
Earlier data for items shown here may
be found on pages 26 to 134 of the February, 1927, "Survey"

1926

August

September

October

November

December

January

January

336, 605

343, 479

378, 350

374, 042

359, 349

359,000

416,766

105, 993
12, 069
18, 311
7,084
27, 346

108, 930
14,444
17,299
8,451
29, 791

118, 907
17, 343
17, 750
10, 286
33, 637

114, 759
15,004
16, 075
13, 155
34,504

112, 853
14, 595
16, 528
9,648
32,644

79, 798
38, 902

77, 967
40, 432

92, 800
45, 787

88,564
44, 607

44, 858
4,835

42, 139
5,722

50, 381
7,765

101, 089
37, 387
4,867

110, 322
37, 839
4,120

124, 399
42, 081
30, 550
63, 987
70,588

PER CENT INCREASE (+) OR
DECREASE (— )

Jan.,
1927,
from
Dec.,
1926

Jan.,
1927,
from
Jan.,
1926

CUMULATIVE TOTAL
FROM JANUARY 1
THROUGH DECEMBER 31

Perct.
ncrease
(
ort>
decrease
(-)
cumulative
1926
from
1925

1925

1926

4, 226, 590

4, 435, 298

+4.9

111, 210
12, 826
16,006
8,555
34, 620

1, 238, 182
157, 435
164, 152
99, 205
412, 704

1, 289, 193
153, 503
198, 930
102, 628
383, 557

+4.1
-2.5
+21.2
+3.5
-7.1

81, 229
41, 897

73, 559
35, 576

980, 537
454,235

1, 015, 505
480, 294

44, 587
7,237

48, 078
5,309

53, 518
7,678

518, 795
80, 171

569, 364
88, 052

112,720
39, 912
3,542

119, 241
37, 008
6,890

109, 703
35, 155
7,486

162, 083
40, 407
16, 397

1, 396, 933
384, 158
92, 143

1, 464, 958
397, 574
96,376

135, 131

134, 783

141, 138

138, 489

201, 092

1, 747, 960

1, 794, 064

+3.6
+5.7
+9.7
+9.8
+4.9
+3.5
+4.6
+2.6

39, 108
32, 588
62, 779
73, 873

50, 420
40, 659
64, 726
87, 762

49, 611
39, 620
65, 897
77, 776

49, 388
31, 809
64,554
75, 109

48, 632
28, 826
71, 140
67, 076

494, 793
432, 911
755, 056
795, 861

540, 731
417, 720
802, 400
875, 481

+9.3
-3.5
+6.3
+10.0

385, 621

448, 724

445, 955

480, 314

465, 053

4, 909, 848

4, 801, 471

-2.2

186, 961
14, 898
28, 844
10, 817
73, 496

224, 186
19,006
44,437
11,311
93,642

235, 578
29, 214
47, 004
14,945
97, 631

247, 084
28, 852
42, 098
14, 195
110, 843

249, 377
27, 773
50, 772
17, 193
104, 578

199, 794
29, 731
25, 537
14, 382
82, 159

2, 603, 748
280, 300
470, 344
205, 150
1, 033, 857

2, 311, 046
263, 777
365, 086
157, 400
972, 331

101, 640
69, 118

102, 389
65, 033

102, 855
68, 377

100, 735
61,816

90, 491
55, 177

84, 780
47, 437

1, 138, 355
648, 768

1, 176, 744
738, 951

34, 290
11, 725

41, 562
13, 247

32, 957
11, 060

43, 301
13, 289

43, 318
14, 116

37, 775
14, 938

402, 607
148, 761

443. 829
143, 893

53,654
14, 256
9,076
379, 496

71, 160
21, 754
9,427
440, 865

75,417
27, 724
9,148
448, 883

79, 227
30, 159
9,967
473, 509

73, 821
28, 175
8,046
456, 111

66,545
23,425
8,302
388, 119

676, 080
229, 645
89, 057
4, 818, 621

777, 546
261, 203
101, 306
4, 714, 241

U. S. FOREIGN TRADE
Imports
Grand total
thous. of dolls
By grand divisions:
Europe—
Total-thous. of dolls..
France
thous of dolls
Germany _ _
thous. of dolls..
Italy
... thous. of dolls
United Kingdom
thous. of dolls..
North AmericaTotal
thous. of dolls..
Canada
thous. of dolls..
South America—
Total
thous. of dolls..
Argentina
_ thous. of dolls
Asia and Oceania—
Total-thous. of dolls..
Japan
thous. of dolls..
Africa, total
thous. of dolls..
By class of commodities:
Crude materials. .
thous. of dolls
Foodstuffs, crude, and
food animals
thous. of dolls
Manufactured foodstuffs. ..thous. of dolls..
Semimanufactures.thous. of dolls. .
Finished manufactures
thous. of dolls..

-0.1 -13.9

Exports
Grand total, including
reexports
thous. of dolls
By grand division:
Europe—
Total
thous of dolls
France
thous. of dolls..
Germany
thous of dolls
Italy
thous. of dolls..
United Kingdom
thous. of dolls..
North AmericaTotal
thous. of dolls
Canada
_
thous. of dolls..
South AmericaTotal
thous. of dolls
Argentina
thous. of dolls..
Asia and OceaniaTotal
thous. of dolls..
Japan
thous. of dolls
Africa, total
thous. of dolls
Total domestic exports only thous. of dolls ..
By classes of commodities:
Crude materials
thous. of dolls..
Foodstuffs, crude, and
food animals
thous. of dolls _.
Manufactured foodstuffs.. -thous. of dolls. .
Semimanufactures
thous. of dolls. _
Finished manufactures
thous. of dolls. .
Agricultural exports (quantities):
All commodities
.
index number
All commodities except
cotton
_ . .
index number
CANADIAN FOREIGN TRADE
Total trade:
Imports..
Exports.




thous. of dolls-thous. of dolls _

419, 000

397, 196

-9.9

+5.5

76, 677

120, 607

167, 167

168, 602

159, 934

113, 925

1, 422, 058

1, 262, 487

-11.3
-5.9
-22.4
-23.3
-6.0
+3.4
+13.9
+10.2
-3.3
+15.0
+13.7
+13.8
-2.2
-11.2

49, 932
42, 936
53, 207
156, 744

46,484
47, 839
55,450
170, 485

35, 658
47, 527
53, 544
144, 987

37, 440
45, 001
61, 618
160, 848

27, 041
47, 964
62, 643
158, 529

15, 845
47, 788
51, 853
158, 708

319, 894
573, 753
661, 676
1, 844, 340

334, 914
503, 296
656, 500
1, 957, 044

+4.7
-12.3
-0.8
+6.1

104

140

181

189

188

111

171

176

164

161

150

123

89, 670
91, 663

85, 563
93, 327

88, 127
131, 489

87, 657
154, 009

81, 775
139, 808

890, 195
1, 283, 100

1, 008, 342
1, 283, 791

+13.3
+0.1

1

78, 806
85, 266

69, 736
85, 716

-3.6 +13.0
-39.0 -0.5




PUBLICATIONS
OF THE'Bit^f
THE
IONS. OF-'
^W,OF;;6bl^M^^;,'' ' J; -: ffi ^ J-^'''.
Decent p»b1ies|tions of. the Departme
^_x_j t_^ti__ ^ complete
<*tfA *If^t ini^V >^A 'rtHtft^VV^^Hik>kS^f<i^6^ »ib'
<

;

,€l^ tt ^l^Wfet^*1! v\f 4^i!hiftf&&irnte "*T^*^oW*wii^''/&'/1/**vkiJX * ' V'- \

^X7'-^__
*V

l4 -p^^i¥^lllis&aio»s7iprFce
S^" :Ti^77"
»"**-»as
^i »_i . )c«i^Aa_i4
^^ ifil-^^-. * *^».<»*r
r*ri_*.. .^.i.v^i.j?
,, ,„_
^_ _.,
of
States;
1'j v -statistics *>f the t$t$l &^d per capita _ _ ^^,r. „ _v
r * '' ;mies" a$& Iroi^ |he |>ri^eipal daises thereofjf i
?

"lav

-,/?*''

— f * '5"T VV**"-*-

31J* v; '<•' ?

'1^,- <M

^,* "T ^

fc|i|^^uea;jaj|^

; ^, - ^ 'tot^dilralue of Sta^ ^ropertie^;
,the total akd^^r^pit
,-ednvess 61 'S^tie% aki4c^^ total and ^er <

VN'^^^P^^^.^^

:

%C'|JK^2 ^^|,^^^

.„_ JJppIjjrtflsnt W Wage Eambfs^JiSwf, <s
_
$StaBJif&m^s>^iPdnrary H^se&aw^rla^ "
^afti^, mWal O«%itt:tHfielatlotftto €
^
^'u« ,-&;*;&¥&»it i^*i^g ^f Manufactures, a

^

>f

^*^-^s:

Criiiitol
^iiaJ in^titutiong, ^olic4 ae
probation agencf^lfib ^tt

for '

:

"i^l^^' ->.^5-Al.4'.:
&^^UI^«I^Ta^;miyi^lfL'1tnft *•** N ' J > '"

t<l

ir &t$&i^f&% co&e^ning toms and
*x*w —-^^^mdebtedness?.etc/; ^p?;Be
~oiina,,02 pages, ptfrf-SO^^

,,.,,.....,.,,.
incl II. Fart 1 4pi
"V;' of e£por&s ^of;domestic merchandise ^nd |jri|5«...
'fdr December, l^S-and 1926, and for 1$ months i
; ; «' ' ber, 1125 ^atkd ,.1^26. Fart II ^dntains stii
inoport $r4de£ monthly average import^
Farr|;i«i;
^FafrtHr5f
J

* **' •*-

" in Waterways J
-. Lawrence, ILi

f ,•—«««»*<>T»»»— •.»,„£.,,_ "---^~ jcrojec-wS^ oy jd»' o« \,—,—^jc? >-"
' " 0ri6^erv :^D^ta^slic Commerce .Series Ho. 4;¥f-^|;<

siusStf'jMSft^ ^^^^40>fc^%'''''"?^

fe*^^Wf-.«^>^tt.lJ ' 3P*JL*A&£**&***# * - \

^:" : ; ; ? A ^
Field Snjryejr, K^\A»4

> pajes,, i^Sbarfe/iaap^ This btilletiJEi ^nfens%5repoiri on'^^f-^ ^?^^^S^^"&«ii&^^
V l ir0y ^&f tlie aettyufcft of ^he ratlro^^df Mori^a dti|fag;19^v
. - \ 'by dlsttri-c^\?r!ie^'?6|T v . ^ -^ ^ ^ ' "5 > . .e-^ v '\>^ .'^'Vr^
German i£lafemie^| aSeteic^|ti^»tsHp *&&' %^P^* ?* ,' ! ' TtenttKai^v:*'* A.n£ArtnAii *tVn.d« , ^ATnmi^oti<y^ ^ReWfm^? >" *Tftfccl&*
No, /4{61;
and cartels
, i^dtrs^ies; the irariops processes of ^rodjiemg ;op f^oin $G&?
/ - the
mi^edf let^tlixer,process;
and
the/prodiictiW
of;|iui^er(Hls'
-At. I^_ _ir^r-»^3r_—*I%_
.Tk-iJ'V^ Tl/\^
-•
""
x " * *
^
1

1

, t , f
,,
l Sf qr$vSr ^rodtiLcti0n, Consumption, a^S iD^triliiiMe^^ by

•

J

George 3J/l>ries^ |r;, Trade Info/Matioa ^Bullel^^fp; 4$4) Brf- :
^
'
^ tion'of, i^sin ^nd turpentine-in different coa^tne^ df i&e woljar.
/ •: itndihe tode in theseHedmmoditles. Fpce^lC^ '> !*' >^'* '<,

i : *#&
;

.Priced
Abil?liogEapliyi^i&dMed. "Price,4
.,
^__ i at Burfeau <if §ta»^f4^ with l._
if^r F^rtWd Cement Stucco .Cbistrttctlonc;"l.Soltt^
11; iiI+$4 pages^ 14 fllu$tratio£iav ^ Metl^d$ olJini^-.Vi
^._«t _ i

STk

1

^ & *£<t*.

. JK'_^i- Jjl. * .

TJ. "L, f ^Tfcr— _ i^

/ ^ cleaning ana^oi^ring, surfaces .of su'ch ma^rf^V^J^* X8t^,3^'fr^ ^**|*v^*^^*«f ^*^T Y*' ;ry |;/-?r* *r^iT^^^rf^7*^^*^^ *v ?'''<r?"

;
^ i/
'. - '
;'


* '

:

>

1 * '-

vv '

J

§f - 7-V j :-T-, v£; \ ^T.

' - > 1 ? > * . • £-*.'J^'r"^-£Vv; " ^ ( ' T^ ' ' V - " . / - 1 ' / » 4 *'', "'iV^.'r f.*,iVf' T ' V 7^'.;'',; ""//^v^'f 1 ^ -\1 i

ME
7^; ('rVx«"'^«. V^* ^,~- <
' • /-V-V, y -/-^."'V^ ,"

V

V

" .-rT '- >. * -

" ^ - - ' ^ ^ \ * , * - '-*• ;i .-

""j^
"'"

ja

r

f?A?*~? P 1

of Commerce

.7- v ~y^jarjrfcijb

,-V-; v uV^ttl f '4,,:^"-:>-r^ ; "5': ^^^-y^:^^

J^ •* -^ v**^,*-'tv*'^'rj*i x-" %' > ^ *^ '-uifl^lE1 A ^FT^ ^ki* . l^tll^f ^IJilij^TTO
^ / if^ V' -"t«f^ :-* tsy-.lfvKJEiAl^vflf JllMiy'VlSrriSUo • ^

vr^^'^*W.*%«i
'^^r^rr^v^a^iAB:
:, Hi ^ * \ -: ;^3p«^*Sf
v, -^^^^^mj^aj
/":^"%^ ^^^*V<>^^/ii^HW
i~ '• - < -/• A*?.-"artiS«wtog

-

^

OF HSHBfillS
^ Vj\
HENBT
, Commissioner
:' l!lte pcopagaticaa and disrtribiitipn of foodj&sh aad s
- f nVfestlgatioBs 1x> prdmote^ pprisQ'yation ®i cfijpiery re
^e development of commjereial fislie|ies, aid aqxifcalture. :« r
" Stiay of .fishery < ndfethqds, improvejpa^nts
d limiQatfon of Waste, and the &3tetMon of
.
of 'Alaska JSs^erie^.. and fur ^eate^nd tM
v <m %fie iSrbteetion1 of sponges, off the e<*ast of

BUBaEAtj OF

v

Uf

S .The^niain|ena^ee;6f
'X"tfiie^pupiieaMon,^ fkghf Lists;,
I,Mariners, ^v^ -*-** —•*- *** - ^ J -"*-'••

;r^;^^^^?^fei|




other aids%> navigation
ed Sta%s, v cv . * ' - - "
Lists/ind NotLcea to

Director " r ^'/
survey i of the^eoastsdf ^e^iMte^.S^te^^pd'publle^M^
r%^ needec} £<# the navlgaiio^ of ^Ihe a45aeei& Caters,
Masfea, "the^Philjm)ine Islands, ,BTa^aja,f Bofta Kiki,
Island^; a|id,,ite Canal Eone^ / - ^ ;.- x v - / " v
ti<5^ system Covers the " eountr^ ®s*d t eoordinate^ the
of the coasts s&& furnishes^ acctir^l^ly^ determined
^Irpl point»uaBd elevations,: ^hese are av^&1e%r
$i an<f other &$$*%& an4 eli^iieerl|ig projects. results -afe,Cfor:C^e" of
11 parts of the country,
of
__ 4he
. , . _ , .btireau
._—^
.„„_,__ „,
,
i% Siangulase leveMa^, latitude, longitude, ^knuth and mag^
srvatlQ^s ^tnd ^reseafcjies, - magnetic TDO^PS, ^gravity,
pny^ hydro^-aphy^ <1ade, and current observa^ons.
results, are punished in th<^ ^orm of charts^ annual
c^ast piloj^ ,tide tables;, current tables^, digests 0f
[, and special publications.
- *
j^

of coniniercial marine and isierclifint seitmen.
of reg^te>ing, enrolling^ lieen^ng^ .
under the United States Sag, and
of a list of .such vessels.
/
, ,;
, , e e m e n t of the havfeatton and steamboat inspection
governing rldlo ^m^bnicatioB^ weH as
connected with tee^r fines, tonnage taxe^ rm odds,, etc.,
such la^s. .
,
., T^ ,
;,

^

\ .^ J&QK&BSOH 'NV Ht?OVBB, Supervising Inspector 0eii0ral,
\\ !3Eieriasi>ection of vessels, the licensing of tie officers of ves".^eJ^Land tlie adminia^ation xof laws
relating ,to ^uoM vessels and
^^p ofiice^. , ^Phe edification ;of aMe seam^a a^no! lifeboat
^^iix^1j©-fom;the creFs^f merchant vessels. * " ' * - * V v / .
insjpeetion of vessels, incluo!ing,^ types, of Boilers/ ^ie
!if W, materials subjeqt to tensile strata in marfne boilers;
of hnlls abd o| IHe-saVing equipment.
violations 6f "steamboat inspection laws.

STATES PATENT
TSOMAS
IkrB.OBjB^TSiON',
CoB&ussionej:
T ?* ,
'S ^
>•
\
,,
' 4
^~" N j
tri of lie granting jof patents and: -fee re^i&tratioi^of
j, prints aad^ labels, including technical examination^ "
s of library with piibHc^ search. rpoi% .containiiig,,
^ _blish^d fore%ix patents, as Welles Qaited States,
trMe-marksr , ^lalntainsh fecdjrdin^ <i@Scefof rbills
. jnnients, etc,,,relaMiig;TtQ pa^jats irict tra^e*Ea4r^s.
\ eofttes of aBreeorilg,pertaining to jpitents.^ ,,, \ >