Full text of Survey of Current Business : March 1927
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.^ ,,, \ >