View original document

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

UNITED STATES
DEPARTMENT OF COMMERCE
WASHINGTON

SURVEY OF
CURRENT BUSINESS
MARCH, 1928
No. 79

COMPILED BY

BUREAU OF THE CENSUS
IN COOPERATION WITH

BUREAU OP FOREIGN AND DOMESTIC
AND

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
far which are noted in the "Sources of Data" on pages 139-142 of the February semiannual issue

, Subscription,price of the SURVEY OF CURRENT BUSINESS is 31-50 a year,* single copies (monthly), 10 cents; semiannual issues, 25 cents/;
Foreign subscriptions, 32.25; single copies (monthly issues), including postage, 14 cents; semiannual issues, 36 cents. Subscriptioh Tt
price of COMMERCE REPORTS is 34 a year; with the SURVEY, 35.50 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 . S . SOYERWMENT PRINTING O F F I C E : 1 9 2 8

INTRODUCTION
T H E 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, 1928, No. 78). In the intervening
months the more important comparisons only are
given in the table entitled "Trend of business movements. "
WEEKLY SUPPLEMENT
Realizing that current statistics are highly perishable and that to be of use they must reach the business
man at the earliest possible moment, the department
has arranged to distribute supplements every week to
subscribers in the United States. The supplements are
usually mailed on Saturdays and give such information
as has been received during the week ending on the
preceding Tuesday. The monthly information contained in "these bulletins is republished in the SURVEY,
and the supplements also contain charts and tables
of weekly data.

BASIC DATA

The figures reported in the accompanying tables are
very largely those already in existence. The chief
function of the department is to bring together these
data which, if available at all, are scattered in hundreds of different publications. A portion of these
data are collected by Government departments, other
figures are compiled by technical journals, and still
others are reported by trade associations.
RELATIVE NUMBERS

To facilitate comparison between different important items and to chart series expressed in different
units, relative numbers (often called " index numbers," a term referring more particularly to a special
kind of number described below) have been calculated.
In computing these relative numbers the last prewar year, 1913, or the first postwar year, 1919, have
usually been used as a base equal to 100 wherever
possible. More lately the average for 1923-1925 has
been frequently taken as 100.
The relative numbers are computed by allowing the
monthly average for the base year or period to equal
100. If the movement for a current month is greater
than the base, the relative number will be greater than
100, and vice versa. The difference between 100 and
the relative number will give at once the per cent
increase or decrease compared with the base period.
Thus a relative number of 115 means an increase of 15
per cent over the base period, while a relative number
of 80 means a decrease of 20 per cent from the base.
Relative numbers may also be used to calculate the
approximate percentage increase or decrease in a move-

ment 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.
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
are of the type termed "Ratio
Charts 7 ' (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 arithmetic form of
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 months. Another movement with a relative number of, say, 50 also increases
10 per cent, making its relative number 55. On the
ordinary (arithmetic) scale this item would rise only 5
equidistant points, whereas the previous item rose 40
points, yet each showed the same percentage increase.
The ratio charts avoid difficulty and give to each
of the two movements exactly the same vertical rise,
and hence the slopes of the two lines are directly
comparable. The ratio charts compare percentage
changes while the arithmetic charts compare absolute
changes.
OP CURRENT BUSINESS

RECORD BOOK

As an aid to readers in comparing present data
with monthly statistics in previous years, the department is compiling a RECORD BOOK OF BUSINESS
STATISTICS, in which data now carried in the SURVEY
OP CURRENT BUSINESS are shown by months as far
back as 1909, if available. Full descriptions of the
figures and reports of how the data, are used in actual
practice by business firms are contained in the RECORD
BOOK. The sections covering textiles and metals have
already been issued and may be obtained for 10 cents
per cop3r from the Superintendent of Documents, Government Printing Office, Washington, D. C. (Do not
send stamps.) Notices of other sections will be given
in the SURVEY as they are issued.

This issue presents practically complete data for the month of January and contains text covering the early weeks of
February (page 1), for which the basic figures in table and chart form are presented regularly in the weekly supplements.
As most data covering a particular month's business are not available until from 15 to 30 days after the close of the month,
a complete picture of that month's operations can not be presented at an early date, but the weekly supplements give every
week the latest data available.



UNITED STATES DEPARTMENT OF COMMERCE

SURVEY OF
CURRENT BUSINESS
COMPILED BY

BUREAU OF THE CENSUS
IN COOPERATION WITH

BUREAU OF FOREIGN AND DOMESTIC COMMERCE AND BUREAU OF STANDARDS

WASHINGTON

No. 79

March, 1928

CONTENTS
SUMMARIES

Page

Preliminary summary for February
1
Course of business in January
5
Business indicators (tables and charts)
2, 3
Wholesale prices (table and charts)
7,8,9
Indexes of business (production, prices, sales, etc.)
17
Automobiles, building, mining, manufacturing, electric
power, and transportation (charts)
4
NEW DETAILED TABLES

Commercial steel castings (revised)
Fabricated structural steel (revised)
Stocks of clinker
Electric railway fares
Gasoline, tank-wagon price
Steel bars, shipments

20
21
21
21
21
21

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 and tobacco
Transportation and public utilities
Employment and wages
Distribution movement (trade, advertising, etc.).
Banking and finance
Foreign exchange and trade, gold and silver

Text

Table

page

Pag6

io
11

22

24
28
12
12 27,30
13
29
13
31
13
32
14
33
14
34
15
35
15
37
16
41
7
42
43
16
44
16
47
16

PRELIMINARY SUMMARY FOR FEBRUARY
Business during the early weeks of February was running higher than in the corresponding period of 1927, as
seen from the volume of checks passing through the
banks for payment. The volume of goods moving
through primary channels, as seen from figures on car
loadings, however, was smaller than last year, the principal declines occurring in loadings of mineral and agricultural products. The value of new building contracts
awarded during the early weeks of February showed
about the same volume as a year ago. Employment in
factories of Detroit, largely indicative of the automobile
industry, was greater than in either the previous month
or February, 1927. The output of crude petroleum
showed a decline from both the preceding month and
February of last year. Lumber production was running larger than in either prior period. The production
of bituminous coal was smaller than in either the previous month or the same month of last year.

Wholesale prices averaged higher than in either
the preceding month or February, 1927. Loans
and discounts of Federal reserve member banks
receded from the preceding month and reached a
level lower than at any time in about three months.
Prices of stocks listed on the New York Stock
Exchange averaged lower than in the previous month
but were higher than a year ago. Bond prices showed
little change from the previous month but were
above the level of last year. Loans to brokers and
dealers by Federal reserve member banks in New
York City receded from the high point reached early
in the month.
Interest rates on call loans averaged higher than in
either the previous month or February of last year.
Time-money rates showed similar comparisons.
Business failures were less numerous than in January,
showing little change from a }^ear ago.

Now ready.—Part II, Metals and Machinery, of the Record Book of Business Statistics, obtainable from
the Superintendent of Documents, U. S. Government Printing Office, Washington, D. C , at 10 cents per copy
(no stamps).
89514—28-




MONTHLY BUSINESS INDICATORS, 1920-1927
[Ratio charts—see explanations on inside front cover. The curves on check payments, wholesale trade, sales of mail-order houses and 10-cent chains, and department stores
have been adjusted for normal seasonal variations, and that on manufacturing production for the varying number of working days in the month]

1923

! 1924 1 1925 1 1928 I 1927 1 1928

1923

1924
«a^_—_

, . l M . . , , . .

| 1926

1925

FACTORY EMPLOYMENT

i

•

1927

i 1928
i

JI20
ilOO

i

60,
|

PIG IRON PRODUCTION

150

* I

80

BUILDING CONTRACTS FLOOR SPACE)

160

!00
80
60
50




1924

i 1925 ! 1926 ! 1927

1928

I

1 9 2 3 ! 1 9 2 4 I 1 9 2 5 I 1 9 2 6 1 1927" ! 1 9 2 8

60

MONTHLY BUSINESS INDICATORS
The principal business indicators are shown below, all calculated on a comparable basis, the average for the years 1923 to 1925,
inclusive. Thus the table gives a bird's-eye view of the business situation in a concise form, so that trends of the principal indicators
may be seen at a glance. The items formerly shown in the table entitled " Business Summary," usually appearing on page 9 of
previous issues, have been consolidated into this table.
Certain indicators, in which there is a marked seasonal movement, are shown with the average seasonal variations eliminated,
as noted below. In this manner a more understanding month-to-month comparison may be made.
MONTHLY AVERAGE
1923

1924

1925

1926

1927

1927

1926

1928

Oct. ! Nov.! Dec. Jan. j Feb. | Mar. Apr. May June ! July | Aug. Sept. | Oct. ! Nov. Dec. Jan.
1 9 2 3 - 1 9 2 5 m o n t h l y average=100

Manufacturing production:
t Total
Pig iron
Steel ingots
Automobiles
Cement
_
Lumber (5 species)
Cotton (consumption)..
Wool (consumption)

I
j
j 102.3J
111.7
104.8
102.1
92. l|
98.6
105.91
; 112.8J

j
Raw material o u t p u t :
Total
Animal products
Crops
Forest products
Minerals (all)
Crude petroleum
Bituminous coal
_
Copper

94.3
86.7
88.7
90.5
99.8
96.2
89.7
94.61

103. 8| 106.9 104.5 110.5 103.0
101.5! 109.0| 101.0 111.6 108.3
106.4; 113.1 103.8 117.8 107.2
107.4J 109.2 87.9 103.9 79.6
108.11 110.0 115.3 133.5 114.2
105.2! 101.5 94.9 106.2 94.9
104. 4| 108.5 120.3 110.8 113.8
92. 6i 89. 7 97.0 103.6 100.9

98.0 98.3j 108.4 114.3
103.4 103.9| 98.4 116.6;
100.3 108.8; 109. 4! 130. l'
52.2 74. 2! 94. 7| 122.5
86.4 66.41 59. 4| 92. lj
84.4 78.9; 86. Oj 91.6;
117.9 117.8! 115. Oj 135.3
101.0 97.9! 97. oi 114.5

116.0! 113.4| 107.6 107.6
103.4J 98.8 98.6
116. lj 100.3| 91.9 100.4
125. 5J 100.0! 83.4 95.9
134. 4J 138. 6| 140.1 147.4
96.5 107.5
91.0 101. 9; 99.9
120.6 123.3J 129.1 110.9 123.4
92.8 93.6! 95.0J 84.1 98.1

113.4
114.5
118. 5
125.71
113.0J

105. Oj 103.4! 93 3 88.2 97.5
92.9J 93.2! 88.6 90.2 96.1
93. 5j 95. lj 89.7 91.1 114.6
80. 9j 68.3j 41.8 41.
69.9
140. 81 138.2J 116.3 96.5 78.7!
94.4 82.9 79.91
105.8J 101.5
122. 2l 119.4J 121.9 105.9 113.51
101.6 103.7j 97.
88.0 95.2J

I

i

j
j
_| 97.5
lOl.oj
92.2
99.2
103.1
99.4
j 108.0
93.3

102.3
101.0
107.0
97.2
95.9
96.9
92.5
100.2

100.1
97.8
100.8|
103.6
101.1
103.7
99.5
106.4

103.9 107.5
101.3
106.2 112.6
97.5 94.7
107.8 108.6
104.6 121.4
109.7 99.4
110.2 104.9

153.7
96.8
210.3
98.4
125.7
113.5
124.2
113.9

141.5
108.7
180.5
92.7
120.0
113.8
135.9|
113.6|

120.3
108.8
135.3
87.0
113.8
118.3
131.3
109.8

104.7
96.1
110.4
80.1
111.6
116.4
130. 6|
115.5

92.8
85.4
93.2
84.3
104.2
110.6
121.4
104.9

96.8;
102.0|
84.7|
92.2!
115. 3J
122.7|
138.1 j
105. lj

82.8|
102.7
61.0
94.2i
96. 6
118.2
79.6
107.8!

91.1!
116. lj
63.1
103.4
110.2
124.2
81. 2|
108.6i

88.1 90.1 113.8 138.0
107.3 97.7 97.6 94.0
62.6 76.3 124.4 185. 51
101.6 94.3 103.3 101. 6;
109.9 106.8 117.3 111.8J
121.4! 127.6 127.1 122.31
84. lj 77.2 95.7 96.3J
105.4! 99.4 102.0 100. Oj

154.3|
102.4
215.8
98.0
115.4
125.6
101.0
104.6

127.5
107.8
157.1
95. 7|

102.61
120.2j

93.3
103.2

107.6
106.0
115.8
87.4
98.7
120.
94.8
101.!

95.4
101.9
92.91
83.
94. 6j
117.8
101.5
104.2

Power and construction:
Electric power
Building contracts (37 States).

92.9
89.7

Unfilled orders:
General index
121.7
U. S. Steel Corporation....! 125.8

98.0 109.0 122.5 132.4 130.6 128.71 135.4 134.1 121.2; 133.9; 127.9! 131.2! 129. Oj 128.6 133. 21 131.7! 138.1! 137.0 143.8 143.4
92.7! 117.6 111.0 106.8 109.1 106.3
96.6 80.2 82. 6j 132.4! 126.0J 111. e! 118.6! 102.4 110.1 101.9! 115.0 105.2 95.2 96.0

87.0
83.6

91.3
90.6

84.6
82.1

74.1
71.1

78.7
77.2

79.5!
79.7;

77.2
83.0

82.7
79.6

81.5
.5
i.3i
75.

r
81.2J 77..2|
74.4l 72.
72.4J

Stocks:
* General index..
88.9 102.2 108.9 129.5 139.6 133.6 151.2| 140.8 139.7 142.5 136. lj
* Manfd. commodities (28).. 86.6 104.1 108.6 109.4 120.0 111.9 109.3! 107.0 118.4 115.61 115.l!
102.5 91.4 106.2 145.5 153.2 177.8 213.o| 219.3 210.7 196.2| 172. ll
Cotton._.
106.4 113.9 73.l! 64.8 85.4 60.3 65.2? 75.5 83.0 93. li 91. lj
C opper (refined)
i Employment:
!
Factories...
Prices:
Farm products, to pro- j
ducers
Wholesale, all commodities
Retail food
Cost of living (including
food)

74.3 72.2| 72.1
63.9 63.9! 65.8

148.2J 124. Oj 100.3J
87.71 95.51 85. lj

85.8
92.2

98,0!

94.3
94.3

98.6

97.4

96.9

95.3

97.0-

97.4

96.61

95.6j

95. Oj

93.1

97.8

97.1 106.5

98.6

94.9

94.2

94.2|

92.0

91.3

92.01

91.3

90.6

91.3i

94.2;

94.2

99.7
97.6

99.1 95.4 98.5 97.5J 97.0 95.7 95. Oj 93.7| 92.9 92.9| 93.0! 93.3
97.2 102.6
97.6 104.9J 107.6 103.6 106.9 108. 2! 108.2 106.2 104.2! 102.9' 102.9 103.6j 106. 2| 102.9

96.3

102.31 102.3

98.1

Distribution (values):
* Bank debits, 141 cities
91.2 96.7!
* Wholesale trade
101.0 98.01
* Department stores, sales... 98.3 99.11
* Mail-order houses, sales
92.7 97. 4j
* 10-cent chains, sales
88.5 99.3
Imports
_
__. 97.8 93.1
91.5 IOO.81
Exports

99.9 101.7 102.3; 102.3 101.7! 100.5!

65.9!

67.0
70.0

67.1
72.4

72.1
83.2

80.7 j

89.5

129.1 134.6 132.8| 141.4 152.7 145.8! 140.1 140.9 139.3 137.3
115.5 118. Oj 116.9; 121.3 127.9 127.9j 125.2 120.9 116.9 127.81

97.2

106.6

71.5!
66.9

99.9j

99.9J

136.6;
96. Oj
101.5!
105.9!
120.5
117.1
107.7

134.3!
94. 0
111.0
117.1
141.6
116.3
109.4

99.9| 100.5j

87.6 135.2| 179.8J 200.0 195.8 178.81
82.7 76.4J 74.11 80.3 84.2 85.2;

13.2

93.4

91.6

95.7 101.4! 100.7|

99.3

94.4

93.8

95.6
102.9

90.7

89.8

19.3

96.1
95.8 95.9 95.4
104.3 104.9 104.2 103.6

98.7

98.7!

99.3!

127.8
95.0
103.1
126.5
131.9
98.9
90.1

137.6
100. 0J
114.2!
140.5
135. lj
114.2J
98.7!

141. Oj
96. 0|
113.41
125.5
135.7!
105. 9J
112.0!

130.7
91.0
105.5
114.3!
139.5
110.1
128.7!

99.9

99.9

99.2J

j
111.9|
IOI.O!
103.9 j
110. 5|
112.3!
109.0!
107.8;

119.6
98.0
107.8
116.2
123.2
114.3
105.5;

132.5
95.0
107.7
120.1
135.3
107.9
106.8

116.1
94.0
110.2
108.7
128.6
116.7
117.3

109.61
98.0!
109.4!
115.2!
128.6!
115.7!
126.5!

132.1
95.0
110.2
119.9
137.8
106.6
121.2

136.9
93.0
117.4
140.
149.8
102.4
107.4

142.1
95.3
105.4
107.7
141.6
104.
108.2

104.8 107. 6; 108.5J 109.0; 108. 61 108.8] 102. 6j 102.7 103. 3J 103. 3- 101.3 95.2
107.5 105.11 98.8! 112.1
19.4; 107.5! 103.11 102.9 112.5! 115. lj 122. ll 99.

96.8
92.7

18.O

123.2
92.2
86.5
115.6
171.1
193.7
120.9

121.9
90.1
95.5
115.9
169.1
193.5
112.3

119.3
95.0
115.8
130.2
136.8
111.3
122.6

123.6
94.0
103.1
103.0
131.91
110. 5|
110.5

132. 3j
95.0;
109.41
110.5!
138.9!
96. 2|
98.2!

127. 7
95. Oj
100.7!
111.5J
128.11
107.3!
103.5!

129.7!
93. o|
103.l!
126. 5j
132.4|
109.9!
94. ol

Transportation:
* Car loadings
Freight, net ton-miles.

99.8
102.2

97.6 102.8 106.8 104.0 108.9 106.4
95.9 101.9! 109.1 101.5 129.4 116.2

Finance:
Member bank loans and disc. 94.1 98.5!
Interest rate (coml. paper)... 115.9 90.8!
99.0 104. lj
Federal reserve ratio
96.4 99.9
Price, corporation bonds
86.0 96.1
Price, railroad stocks
Price, industrial s t o c k s . . . . . . 86.1 91.9
106.0 106.81
Failures (liabilities)




107.4!
93.4j
96.9;
103.6!
117.9|
122. ol
87.2

112.9
98.5
96.0
108.0
133.4
132.4
80.4

117.3
93.1
99.1
112.5
162.7
171.4
102.3

114.3
104.5
95.3
108,0
135.7
131. 5|
78.4

114.8!
103. lj
93.5
109.4!
139.3!
137.4j
77.1

t Adjusted for number of working days.

116.3
101.7
90.
110.2
143.3
14
107.6

113.4
95.9
103.1
111.0
145.2
140.1
121.0|

I

114. lj
89.9!
101.7
110.6!
151. lj
144. 7|
110.7!

i

114.6:
92.9:
102.l!
111. 2;
152.4
150.8!
136.5

114.6
95.2;
103.0!
111.9;
158.3J
159.8{
125.4

116.7
95.9
99.5
112. lj
162.4
167.6!
'.11

117.5
95. 9
100.5
111.2
165.3!
168.8!
81.3|

115.7
94.5
103.2
111.4)
167.3]
177.31
101.8

117.3
0.6!
101.4
112.9!
167.9!
183.71
92.4

* Seasonal adjustments.

119.3)
89.9j
98.8
113.4
171.5j
193.9;
77.3!

120.0!
92.2;
98.4!
114.4;
168.5'
186.4
85.5;

121.4
91.0
92.2
114.9
171.6
190.0
85.3




NEW BUILDING CONTRACTS AND AUTOMOBILE PRODUCTION
[Relative numbers, monthly average, 1923-1925, taken as 100]

FACTORY EMPLOYMENT, MANUFACTURING, AND ELECTRIC POWER PRODUCTION
[Relative numbers, monthly average, 1923-1925, taken as 100]

1928

MINERAL PRODUCTION AND RAILROAD TON-MILEAGE
[Relative numbers, monthly average, 1923-1925, taken as 100]

BUSINESS CONDITIONS IN JANUARY
PRODUCTION

Manufacturing production in January was generally
higher than in the preceding month but lower than in
January, 1927. The production of pig iron and the
output of steel ingots were larger than in the previous
month, with steel-ingot production showing an increase
over a year ago, as well. The production of automobiles showed a gain over December, but was low^er than
in the corresponding month of 1927. Crude-petroleum production declined from the previous month
and was slightly higher than a year ago. The output of bituminous coal showed a gain over the previous month but was lower than last year. Copper
production was higher than in December but lower
than in January, 1928. The production of cement,
although lower than in the previous month, made a
gain over the same month of last year. The output
of lumber was greater in January than in either the
previous month or January, 1927. The consumption
of cotton was larger than in December but smaller
than a year ago, while wool consumption made
similar comparisons.
COMMODITY STOCKS

Commodity stocks at the end of January were held
in smaller quantities than at the end of either the
preceding month or the same month of last year, after
adjustments for seasonal variations. Stocks of cotton
held at mills and in public storage were lower than in
either prior periods. Stocks of finished cotton goods,
although higher than a year ago, were lower than at
the end of the preceding month, while stocks of cotton
textiles were higher than in either prior period. Silk
stocks held at warehouses and manufacturing plants
were lower than in either the previous month or
January a year ago.
Stocks of iron ore were lower than in either the
previous month or January of last year. Stocks of
steel sheets, however, showed increases over both
prior periods. Stocks of sanitary enameled ware were
generally lower than in either the previous month or
January, 1927.

The visible supply of wheat was lower than in the
previous month but higher than a year ago, while the
visible supply of corn showed an increase over the
previous month, but a decline from last year. The
visible supply of barley and oats was smaller than in
either the previous month or January of last year.
Storage holdings of meats showed an increase over
both the previous month and January, 1927. Holdings of creamery butter in storage were lower than in
the previous month but considerably greater than a
year ago, while holdings of cheese showed declines from
both prior periods. Stocks of raw sugar at refineries
showed a decline from the previous month but were
higher than a year ago.
BUILDING AND CONSTRUCTION

New building contracts awarded in January, measured in value, were lower than in the previous month
but higher than a year ago. Larger awards for industrial construction were let than in either the previous month or January a year ago. Fire losses in
the United States and Canada were larger than in
either prior period. Construction costs showed little
change from the previous month, but were somewhat
higher than last year.
BANKING AND FINANCE

Sales of stock on the New York Stock Exchange
declined from the previous month but were larger
than a year ago. Bond sales were lower in volume
than in either prior period. Brokers' loans were
higher at the end of January than at the end of January of last year. Loans and discounts of Federal
reserve member banks receded from the previous
month but were higher than a year ago. Interest rates
on both time and call funds were lower than in the
previous month; time-money rates were lower than a
year ago and call rates were higher. New business of
life-insurance companies was smaller than in the previous month but greater than a year ago. Defaulted
liabilities of failing business firms were smaller than
in either the previous month or January, 1927.

SUMMARY OF INDEXES OF BUSINESS
PRODUCTION

The output of raw materials in January was smaller
than in either the previous month or January, 1927.
Mineral output declined from a year ago but exceeded the December output, crop marketings declined
from both prior periods, while the marketings of animal
and forest products, although lower than in the previous month, were greater than a year ago. In the
case of mineral output all products were produced in
smaller quantities than a year ago, except petroleum,
zinc, and silver, which increased.



Manufacturing production, after adjustments for
working-time differences, showed an increase over the
preceding month but was lower than a year ago.
The output of all manufacturing industries included
in the index was greater than in the previous month, #
except chemicals and oils and stone and clay products, which declined, and paper and printing, which
showed no change. Contrasted with a year ago increases were registered in the output of foodstuffs,
iron and steel, lumber, leather, and stone and clay
products, all other groups showing smaller production
than a year ago.

PRODUCTION, STOCKS, AND UNFILLED ORDERS FOR MANUFACTURED COMMODITIES
[1923-1925 monthly average =• 100. Adjustment has been made for the seasonal movement of stocks and relative number of working days for production. Unfilled orders are
principally those of iron, steel, building materials, and textiles. January, 1928, is latest month plotted]
140
1
X
\
\
\
\
\

V*
t
*

120

hi

g 100
I

90

t
t

A/,
f^^~

>

80

A

UN FILLED ORDERS

^ \

V

STOCKS

/

/ \

•TV

d \JI

VI

l\
\
\\

v

/

V

UJ

EC

;

/>»^t\ 1

["-—PRODUCTION \

1

\ 1
\.
\

\
\

1
\

\ - _ ,

/

70
\
H

! ! I I I I I I 1 I I

1 1 i ! ! 1 1 1 1 i!

1923

60

1924

MM

1 1 1 I 1

1925

COMMODITY STOCKS

1 1 1 1 1 1 1 1 1 i 1

1926

/
i

1 1 1 1 1 1 1 1 1 1

1927

1

!

1 1 1 1 1 1 1 I 1

1

1928

Stocks of commodities; after adjustments for seasonal variations, showed a decrease from both the
previous month and January of last year. As compared with the previous month, declines were reported
in the holdings of foodstuffs, both raw and manufactured, sufficient to more than offset increases in stocks
of manufactured commodities and raw materials
other than foodstuffs. Contrasted with last year,
stocks of commodities at the end of January were
larger in all groups, except raw foodstuffs.

ness in dry goods, men's clothing, boots and shoes,
drugs, and furniture was greater, while declines were
registered in meats and women's clothing.
Retail trade in January, as measured by department
store sales, was seasonally smaller than in December
and slightly below a year ago. Stocks of merchandise held by department stores showed a decline from
both prior periods. Sales by mail-order houses and
10-cent chain stores, although smaller than in the
previous month, were larger than a year ago. Other
chain stores showed larger business than a year ago
except cigar chains, which declined.

SALES

PRICES

Unfilled orders at the end of January were larger
than at the end of the previous month but smaller
than a year ago. All groups showed larger forward
business than in the previous month, but as compared with last year unfilled orders for iron and steel
alone were larger, the increase being insufficient to
offset the declines in the other groups.
Wholesale trade showed larger volume than in December and no change from a year ago. As compared
with the previous month wholesale business was greater
in all lines except groceries and hardware, which declined. As compared with a year ago wholesale busi-

The general index of wholesale prices declined
from the previous month, being lower also than in
the corresponding month of last year. Declines in
the prices for food, fuel and lighting, and chemicals
were more than sufficient to offset increased prices
for farm products, hides and leather, and building
materials. As compared with a year ago, prices for
farm products, foods, hides and leather, textiles, and
house-furnishing goods were higher, while prices for
fuel and lighting, metals and metal products, building materials, chemicals, and miscellaneous items
showed declines.




As reclassified, the general index of wholesale prices
showed an increase over the previous week in producers' goods, while consumers' goods declined.
Prices for raw materials showed no substantial change
from the previous month. Contrasted with a year
ago, prices for raw materials and consumers' goods
were higher, while producers' goods were lower.
Commercial indexes showed substantially the same
comparisons with both prior periods.
The indexes of prices received by farmers for their
produce showed no change from the preceding month,
but was higher than a year ago. As compared with
December, increased prices were registered in grains,
fruits, and vegetables, and in certain unclassified items,
while declines were reported in the prices for dairy
and poultry products and cotton and cottonseed. As
compared with January, 1927, prices for all groups
were higher except meat animals, which showed a
decline.
EMPLOYMENT

Factory employment in January showed a decline
from both the preceding month and the same month of
last year. As compared with December, employment
in all industrial groups was lower, except leather and
vehicles, which increased, and iron and steel, which
showed no change. Contrasted with a year ago, the
January employment was lower in all factories except
paper and printing and tobacco products, which
showed no change. The greatest declines from last

year in factory employment occurred in iron and steel
and nonferrous metal mills.
Factory pay-roll payments in January were also
lower than in either the preceding month or January,
1927. As compared with tti8 previous month, declines in pay-roll payments were registered in all groups
except leather, which had larger payments. As
compared with last year, pay-roll [payments in all
groups were lower except paper and printing, tobacco
products, and vehicles, which showed larger payments.
The cost of living was lower than in either the previous
month or January of last year, all groups declining
from the previous year, except lieht, which made a
slight advance.
Reports from the American Federation of Labor
covering unemployment show 18 per cent of union
members in representative cities to be out of employment as compared with an average of 14 per cent
during the last quarter of 1927. Voluntary quits of
factory labor in January were larger than in the
previous month but smaller than a year ago. Factory
lay-offs made similar comparisons. Industrial accessions were larger than in either the previous month or
the corresponding month of 1927. Employment in
the Ohio construction industries showed a decline
from both the preceding month and the corresponding
month of last year. Wages of common labor averaged
lower than in December but showed no change from
1927.

COMPARISON OF WHOLESALE AND RETAIL FOOD PRICE INDEX NUMBERS




WITH INDEX OF ALL COMMODITIES AT WHOLESALE
[U. S. Department of Labor index numbers. Relative prices, 1926=100. January, 1928, is latest month plotted]

8
WHOLESALE PRICES FOR SPECIFIED COMMODITIES
[Relative numbers, 1926 monthly average taken as 100. January, 1928, is latest month plotted]

\ C I D PHOSPHATE

110
...

NITRATE OF SODA ( N E W YORK"

:

\

"T'7""

_ _

mm

90

!

i

j

j

80

1 |

y

[

'
1
: ~ ~ ^ !

;

W H E A T , WINTER

120

M M

CORN, NO. 2 \

FLOUR /WINTER

OATS

r 131.6 I34.4|4^8I3O.5

^ ease* •ess*

i i i/

-(••I

100

FERTILIZER TANKAGE(CHICAGO)

; !

1

100

MURIATE OF POTASH (N.Y.)

(BALTO.

!

!

80 BEEF,

CATTLE, STEERS

;

i

|

CARCASS.

;

j

i

HOGS,

HEAVY

1

1 1

HAMS, SMOKED

(CHICAGO)

100
80 L

!

140

;

I

100

j

I

120

COTTONSEED OIL

SUGAR, GRANULATED

SUGAR, RAW

160

i

'MM

!

I !

rr
i

yJM

1

..p.

1

\

pL

i

f.

RUBBER, CRUDE
! j 1

i !!

i

:

!

, j

1 1 !

1 ##
^o

80

1 ; | i!

60
COTTON YARN

C O T T O N , RAW

^MS

i

COTTON PRINT CLOTH

;

M

M..j__
j

Ns

/

a

j

;:

WOOL, 1/4 GREASE
1
\
!

|

we>**

i

\

i

i

a

1 ^

(BOSTON

j •»

M M !
i

:

SILK, RAW

i
|

j

j !

80

I

i

HIDES, PACKERS,,
55.3 152.5159.9

#

j

LEATHER, SOLE, OAK*
I

^ 172J

i

....

! 1T
PETROLEUM

BOOTS AND SHOES, (ST. LOUIS

BiTUMINOUSCOAL

120

#

i"

COKE

|

I •*' \

iOO
80

4-

—

I

60
HO

[

|

j

!

•Ii

I00

i

j

••• . . .

I

I

PIG IRON, FOUNDRY

COPPER INGOTS
!

ZINC

i

100

! j.

90

4~H

4 82 8 64.6 84,9 B6.4 S4,g 1.7 J 3 7,!

STEEL BEAMS

no

LUMBER PINE

.1..

100

C E M E N T , _EH!GH

FLOORING

i

!

11

ammm

N

90

M4v

i l l *
ffl i




t£ > z

5

6 fc

H

> 6

«

t

U

j

2

i

I

-

2

D

D

1926

3

u

j

O

O

,.

U

1
i

|

7{

J

<

U

^

0

.

^

1927-! 928 « „ » » .

BRICK, COMMON, NEW YORK

•4-

1

••

%

'••

1\ -

6 7!£ 71

...

4 7 4 68

9
WHOLESALE PRICES FOR SPECIFIED

COMMODITIES

NOTE.—Prices to producer on farm products and market price of wool are from U. S. Department of Agriculture, Bureau of Agricultural Economics, 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.
RELATIVE PRICE
ACTUAL PRICE

(dollars)

1926 average=100

Unit

COMMODITIES

December,
1927

January,
1928

January,
1927

Novem- I DecemDecember, I ber, 'January, ber, I January,
1928
1927 ! 1927
1926 | 1927

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

! Bushel.
| Bushel.
Bushel.
Pound.
Ton..
Pound.
Pound.
Pound.

1.139
.751
.941
.187
37.14
.0832
. 0814
.1139

1.1.52
.752
.936
.186
37.40
.0848
. 0781
. 1134

i BushelJ Bushel! BushelBushel..
j Bushel..
BushelCwt
! Pound..
Pound.
;
Cwt
I Cwt
i Cwt
I Cwt

1.275
1.384
.867
.554
.876
1.088
20. 220
.196
.49
15. 500
8. 575
5.625
13.013

Barrel—
Barrel..
Pound..
Pound.
Pound.
Pound.
Pound.
Pound.
Pound.
Pound.

„

7.100
6. 563
.046
.056
.100
.223
.238
.214
. 52
.235

122.2
.643
1.391
.108
18.55
.0645
. 1097
. 1065

82
105
51
132
138
124
76
99

84
107
51
124
137
129
69
98

85
108
50
L23
138
131
66

91
92
74
66
66
99
93
94

90
92
75
70
68
100
93
92

1.293
1. 425
.886
.564
.932
1.085
23. 227
.190
.50
15. 800
8.320
6.050
12.650

1.413
1.368
.768
.499
.738
1.015
12. 356
.134
.44
10. 295
11. 970
6.435
12. 465

82
88
114
119
121
111
116
116
104
167
77
83
99

82
90
114
129
126
114
239
112
107
163
70
85
95

84
92
117
131
134
114
274
108
109
166
67
92
92

92
91
100
117
107
102
148
73
96
102
95
86
88

91
89
101
116
106
106
146
77
96
108
97
98
91

7.450
6.700
.045
.057
.101
.220
.230
.212
.49
. 235

7.463
6.545
.051
.062
.085
.170
.178
.269
.50
.215

85
91
107
102
89
131
137
71
111
103

84
91
106
101
84
136
139 I
!
70 I
;
116
103

92
104
104
85
134
135
69
109
103

91
91
118
111
69
104
108
91
122
94

87
90
116
112
72
104
104
87
111
94

.369

107
109
119
98
97
95
95

104
105
113
98
97
96
96
81
86

103
106
105
99
97
97
97
83
85

87

84
90

96
97
94
95
94
97

97
95
95
91
93

FARM PRODUCTS—MARKET PRICE
Wheat, No. 1, northern spring (Minneapolis)._
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, leaf, average sales, warehouse (Kentucky)
_
Cotton, middling upland (New York)
„
Wool, H blood, combing, Ohio and Pennsylvania fleeces (Boston)
Cattle, steers, good to choice, corn fed (Chicago).
Hogs, heavy (Chicago)
Sheep, ewes (Chicago)-.
Sheep, lambs (Chicago)
FOOD
Flour, standard patents (Minneapolis)
Flour, winter straights (Kansas City)
Sugar, 96° centrifugal (New York)..
Sugar, granulated, in barrels (New York)
Cottonseed oil, prime yellow (New York)
Beef, fr8sh, carcass, good native steers (Chicago)..
Beef, fresh, carcass, steers (New York)
Pork, smoked hams (Chicago)
Butter, creamery, 95 score (New York)
Oleomargarine, standard, uncolored (Chicago)._.

TEXTILES

|

Cotton yarns, carded, white, northern, mule spun, 22-1 cones (Boston) Pound
!
Cotton-print cloth, 64 x 60-38K"-5.35—yards to pound..
! Yard
I
Cotton sheeting, brown 4/4 Trion (New York)...
Yard.
Worsted yarns, 2/32's cross-bred stock, white, in skein (Boston)
! Pound
|
Woman's dress goods, French, 39 inches at mills, serge
j Yard.
Yard.
Suitings, unfinished worsted—13 ounce, mill.__
_
Suitings, serge, 11 ounce, 56-58 inch..
! Yard.......!
|
Silk, Japan, 13-15..
_
j Pound
Hosiery, women's, pure silk, mill
j Dozen pair.|

.371
.080
.105
1.400
1.000
1.917
2.084
4.998
10. 516

1.425
1.000
1. 935
2.093
5.145
10. 290

.301
.068
.080
1.375
1.000
1.895
2.048
5. 635
11.270

.250
.250
.535
.590
6.500
5.000

.261
.300
.535
.590
6.750
5.000

.155
.169
.450
.430
6. 400
4.850

172
132
113
126
102
102

178
144
118
135
102
102

186
173
118
135
106
102

108
96
99
98
100
99

111

Net ton
|
4.144
Net ton
|. 4.759
Long ton_._j 13. 389
Short ton__i: 2.788
1.220
Barrel
i

4.093
4.550
13.130
2.780
1.220

4.450
4.996
13. 779
3.875
1.750

96
100
97
69
65

96
99
97

95
95
95
68
65

108
108
101
95
93

103
104
100
94
93

Long ton.__j 19.010
Long ton...]; 17. 000
Long ton..-I 33.000
. 1377
Pound
|
.187
Pound
i
Pound.
. 0650
.5805
Pound
i
. 0572
Pound
|

19.010
17. 000
33. 000
.1385
.188
. 0650
.5518
. 0564

20. 260
18. 000
35. 000
.1299
.182
.0758
.6479
.0066

93
92
94
97
96
74
90
78

92
92
94
100
99
77
91
78

92
92
94
100
99
77
87
77

100
100
100

105
96

97
100
94
95
90
102
91

M feet
I 35. 540
Thousand..! 11.250
Barrel.
!
1.600
Cwt
!
1.800
.294
Pound
|
Ton
i 15. 500
Cwt
|| 2. 525
3.250
Cwt
j

35. 260
12. 750

40. 810
17.000

81
71

79
68

78
78

92
94

91
103

1.600
1.800
.288
15.500
2.525
3.250

1.636
1. 975
.268
15. 000
2.750
3. 250

97

97
92
77
107
88
94

97
92
76
107
88
94

100
102
67
103
96
100

99
102
70
103
96
94

LEATHER
Hides, green salted, packers' heavy native steers (Chicago).
Hides, calfskins, No. 1, country, 8 to 15 pounds (Chicago)
Leather, chrome calf, dull or bright " B " grades (Boston)
Leather, sole, oak, scoured backs, heavy (Boston)
Boots and shoes, men's black calf, blucher (Massachusetts)
Boots and shoes, men's dress welt tan calf (St. Louis)

Pound
I
Pound
|
! Square foot_j
Pound
i
I Pair
[
1
Pair
J

100

FUEL
Coal, bituminous, mine-run (composite price)
Coal, bituminous, prepared sizes (composite price)
Coal, anthracite, chestnut (composite price).
_.
Coke, Connellsville (range of prompt and future) furnace—at ovens.
Petroleum, crude, Kansas-Oklahoma—at wells.
METALS
Pig iron, foundry No. 2, northern (Pittsburgh)
Pig iron, basic, valley furnace
Steel billets, Bessemer (Pittsburgh)
Copper ingots, electrolytic, early delivery (New York).
Brass, sheets, mill
_
Lead, pig, desilverized, for early delivery (New York)..
Tin, pig, for early delivery (New York)..
Zinc, slab, western (St. Louis)..
BUILDING MATERIAL AND MISCELLANEOUS
Lumber, pine, southern, yellow flooring, mill
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)__
Wood pulp, sulphite, domestic, unbleached, news grade (New York)..
Newsprint, rolls, contract, mill




72
103
94

10
REVIEW OF PRINCIPAL BRANCHES OF INDUSTRY AND COMMERCE
| previous month or January, 1927.

Prices for cotton
cloth were generally lower than in December but
Imports of wool in January were greater than in j higher than in January of the previous year.
December but smaller than a year ago. The con- |
Imports of raw silk in January were smaller than in
sumption of wool was larger than in either the previous either the previous month or the corresponding month
month or January, 1927. Stocks of wool held at the of last year. Deliveries of silk to mills, indicative of
end of 1927 were lower than at the end of the preced- consumption, were greater than in either prior period.
ing year. Wool machines were more active in Jan- Stocks of silk held at warehouses at the end of the
uary than in either the previous month or the same month showed declines from both the previous month
month of last year.
and the corresponding month of 1927. Manufacturers'
Receipts of cotton into sight were smaller than in stocks were larger than in either prior period. Silk
either prior comparative period. Exports of raw prices averaged higher than in the previous month
TEXTILES

THE TEXTILE INDUSTRIES
[Relative numbers, monthly average 1923-1925, taken as 100. January, 1928, is latest month plotted. Curves covering imports of wool and exports of cotton are plotted
from 12 months' moving monthly averages centered on the end month]

cotton also showed declines from both periods. The
consumption of cotton was greater than in December
but smaller than in January, 1927. Stocks of cotton
held by mills and warehouses were lower than in either
prior period. Prices for cotton averaged lower than
in December but were considerably higher than a
year ago. Prices for cotton yarns showed little change
from the previous month, but were higher than in
January of the preceding year.
Production of cotton textiles was smaller than in
December but considerably greater than a year ago.
Stocks of textiles at the end of the month showed
increased holdings over both prior comparative periods.
 Exports of cotton cloth were lower than in either the


but were generally lower than in the corresponding
month of the previous year. Imports of rayon were
lower than in December, being almost twice as large,
however, as in January, 1927. Rayon prices showed
no change from the preceding month bub were generally higher than in January a year earlier.
Productive activity of manufacturers of fresh-water
pearl buttons was greater than in either the previous
month or January a year ago. Stocks of buttons
were also larger than in either prior period. Imports
of burlaps and fibers were greater than in December,
fibers showing an increase over a year ago also.
The production of hosiery in December was smaller
than in either the previous month or December, 1926.

11
Shipments of hosiery, however, declining from the
previous month, were larger than in December, 1926.
Stocks of hosiery at the end of 1927 were greater than
at the end of the preceding year.
Men's and boys' suits cut in December showed an
increase over the preceding month but a decline from
December, 1926. The number of overcoats cut in
December declined from the preceding month, but
were larger than in the corresponding month of the
previous year. More work clothing was cut in Decem-

The output of malleable castings was larger than in
either the previous month or January of last year.
Operating activity of reporting mills, however, showed
declines from both prior periods. The production of
steel ingots was larger than in either the previous
month or the corresponding month of 1927, while the
operating ratio of steel mills made similar increases
over both periods. Unfilled orders for steel at the end
of January were larger than at the end of either
prior comparative period.

THE METAL INDUSTRIES
[Relative numbers, monthly average 1923-1925, taken as 100. January, 1928, is latest month plotted. Curve covering zinc stocks is plotted from 12 months' moving
monthly averages centered on the end month]

1923

1924

1925

1926

1927

1928

1923

1924

1925

1926

1927

i928

1923

i924

1925

1926

1927

1928

1923

1824

1925

1926

1927

1928

ber than in the same month of 1926, while net shipments also showed an increase.
METALS

The consumption of iron ore was larger than in
December but smaller than in January, 1927. Stocks
of iron ore, both at furnaces and at Lake Erie docks,
held at the end of the month, showed declines from
both prior comparative periods. The output of pig
iron in January was greater than in December, but
smaller than a year ago. The production by merchant
furnaces made similar comparisons. More furnaces
were in blast at the end of January than at the end of
either the preceding month or the same month of last
year, while the capacity of furnaces in blast also
increased over the previous month and showed a
decline from a year ago.



New orders for steel castings in January showed an
increase over the previous month, but were smaller
than a year ago. The production of steel castings
made similar comparisons with both periods. The
production of steel sheets by independent manufacturers was greater than in either prior period with the
operating ratio of mills showing similar comparisons.
Shipments of sheets were likewise greater than in
either the preceding month or January of last year.
Unfilled orders for sheets, however, showed a decline
from the previous month, but were considerably
larger than a year ago.
New orders for fabricated structural steel were
lower than in December but higher thap in January,
1927. Structural-steel shipmentsfjmade similar comparisons with both periods. New orders for fabricated steel plate showed declines from both the

12
previous month and January of last year, while new
orders for steel boilers, although declining from the
previous month, were slightly in excess of those
produced a year ago. More steel barrels were produced than in the previous month, but the output was
lower than in January of last year, shipments making
similar comparisons. Exports of iron and steel products were greater than in December but smaller than
a year ago, while imports were lower than in December
and greater than January, 1927.
Mine production of copper was greater in January
than in the previous month but smaller than a year
ago. The production of copper by smelters, however, was smaller than in either period. Stocks of

averaged lower than in either prior period. The output of lead was smaller than in the previous month,
showing a decline also from a year ago. Lead prices,
showing no change from the previous month, were
lower than in the corresponding month of last year.
AUTOMOBILES AND RUBBER

The production of automobiles was larger than in
the previous month and smaller than a year ago, the
increase over December being soley due to larger
production of passenger cars. Exports of assembled
automobiles from the United States were larger than
in either the previous month or January, 1927, both
trucks being exported in larger volume than in either

THE AUTOMOBILE AND RUBBER INDUSTRIES
[Relative numbers, monthly average 1923-1925 taken as 100. Where available, January, 1928, is latest month plotted]

AUTOMOBILE EXPORTS

;

il

AUTOMOBILE PRODUpTION

1 i

, V

9 2 3 - ^ 9 2 4 ^ 1f925 ' ' ^W%t ~ ^\Q2

192!

PNEUMATIC TiRES
1

! l

i

U

U

• ^ 2 1 ' ''i922 '' 'y923 ''''y92 4 ^925

1 1 IH

i"^26^''

LJ

refined copper in North and South America held at the
end of January were larger than at the end of either
prior period, but blister stocks showed declines from
both periods. The wholesale price of copper continued to average higher, being higher also than a
year ago.
Deliveries of tin to consuming establishments were
larger than in the previous month but smaller than
a year ago. The visible supply of tin showed declines from both periods, while the wholesale price
of tin also receded. The production of zinc was
larger than in the previous month but smaller than a
year ago. Stocks of zinc at the end of the month were
larger than in either prior period. The price of zinc



A

1921

!922

1923

i 328

!

...1 ,.,..,L
1924 1925 1926 1927

1928

period while passenger car exports showed a decline
from a year ago. Shipments of accessories and parts
were larger than in the previous month, showing an
increase also over a year ago. Automobile rim production was greater than in either prior period. Imports of crude rubber were larger than during the
previous month but smaller than a year ago. Rubber
prices declined from December but were still above
those which prevailed in January, 1927.
FUELS

The production of coal, both bituminous and
anthracite, was smaller than in the preceding year,
while as compared with the previous month bituminous coal production was greater. Coke production

13
was larger than in the previous month but smaller than
a year ago. Coke prices averaged lower than in either
prior period. The production of crude petroleum was
smaller than in December but greater than in January,
1927.
Prices for petroleum, showing no change from
the previous month, were considerably lower than a
year ago.
HIDES AND LEATHER
Imports of hides and skins, although smaller than
in December, were greater than a year ago. All
classes of skins showed larger importation than in
January, 1927, except goatskins, which declined.

production of wood pulp, both chemical and mechanical, was smaller than a year ago. Prices for chemical
pulp, although showing no change from the previous
month averaged lower than last year.
Production of newsprint paper was greater than in
December but considerably smaller than a year ago.
The output of newsprint by Canadian mills, however,
showed increases over both comparative periods. The
consumption of newsprint by domestic publishers
was smaller than in the corresponding month but
greater than a year ago. Imports of newsprint,
although greater than a year ago, were considerably

THE PAPER INDUSTRIES
[Relative numbers, monthly average 1923-1925 taken as 100. December, 1927, is latest month plotted]

IOPI

i

GENERAL

BomLikiiuiLL
OIIILLLLLI.
1920
1921

.

j

|

NEWSPRINT PAPER

|

L i 1 I I I I I I I i I I 1 I 11 I i I I 1 ! I I ! I I I i I I I l l ! j ! I 1 i ! I i I i I 1 I 1 I I I I I I

1822

1923

1924

1925

1926 1927

II>I||!|||||IMI|I

1920

i

1922

llhllll!

1923

1924

n

1926

1927

1A

1

100 a^rs/X

1925

PRODUCTiON-v^

A

r

,

vS
|

iM A 1

\l\
1920

V

WRAPPING PAPER
1111111111111111111111 ri

1921

1922

1923

nli il 11 In

llllllllll

1924

1925

ililiiiiiinihil

1926 1927

Prices for hides averaged higher than in either the
previous month or January of last year. The production of sole leather, declining from the previous
month, showed an increase over a year ago.
Exports of sole leather were larger than in either
prior period. Prices for leather showed no change
from the previous month and averaged considerably
higher than in January, 1927. Shoe production in
January was larger than a year ago. Wholesale
prices for shoes averaged higher than in either prior
period.
PAPER AND PRINTING
Imports of wood pulp, both chemical and mechanical, were larger than a year ago, with chemical imports increasing also over the previous month. The



nlnliijii

1920

FINE PAPER

nhiliiln

1921

lihlillil!

1922

nliihiiii

1923

1924

nhilnhi iilnliilu

1925

1926 1927

smaller than in 1927. Stocks of newsprint, held at
both Canadian and domestic mills, were considerably
larger than a year ago, while publishers7 stocks were
lower. Prices of newsprint, showing no change from
the previous month, averaged lower than a year ago.
The production of boxboard was greater than in
either prior period, while stocks, although greater
than in the previous month, were smaller than a year
ago.
Fewer titles were published by American book
publishers than in either the previous month or the
corresponding month of last year.
BUILDING
Contracts awarded for new buildings showed larger
contemplated floor space than was reported in either
the previous month or January, 1927. Measured

14
in value, the January awards were lower than in
December but considerably higher than a year ago.
Construction costs showed little change from the
previous month but in general were lower than a
year ago. Fire losses in the United States and
Canada were greater than in December, being larger
also than in January, 1927.
LUMBER AND LUMBER PRODUCTS
The production of southern pine lumber was greater
than in either the previous month or January of last
year, shipments being smaller than a year ago.
Prices of southern pine were generally lower than in

likewise greater than in either prior period. Total
exports of lumber were substantially greater than in
either the previous month or in January, 1927. Composite lumber prices of both softwoods and hardwoods
were higher than in the previous month but lower than
a year ago. The production of flooring showed maple
output smaller than in either the previous month or
January of last year and oak flooring greater than in
either prior period. Stocks of oak were larger than
a year ago, while maple stocks were smaller.
Unfilled orders for flooring, both species, were
greater at the end of January than at the end of either
prior period. New orders for plywood were greater

THE BUILDING-MATERIAL INDUSTRIES
[Relative numbers, monthly average 1923-1925 taken as 100. January, 1928, is latest month plotted]
!2Or

1920

1922

1921

200 p

1924

1925

L

1926

1927-8

U

1920 ^ 1921

1922

1923

i924

1925

1926

S927-8

1920

1922

1923

1924

1925

1926

1927-8

y

ISO I

1923

\r^

!40

PRODUCTION-^

100

STOCKS - t v \

1920

1921

jf

ir\—FY—ti

\ j

/

1922

1923

1924

1925

1926

1827-8

either the previous month or January, 1927. The
production of Douglas fir showed a decline from the
previous month, but was larger than a year ago.
California redw^ood production was greater than in
either the previous month or the same month last
year, while the output of western pine and North
Carolina pine showed declines from both periods.
The production of northern pine lumber was greater
than in either prior period, while the output of northern pine lath made a similar comparison with both
periods.
Total stocks of hardwroods at the end of January
were considerably larger than at the end of either
the previous month or January of last year. Unfilled
orders for hardwoods at the end of the month were



!92!

than in the previous month, but smaller than a year
ago, while new orders for piano benches and stools
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 of last year,
but shipments and unfilled orders were larger than in
either prior period. Prices for common brick averaged
higher than in the previous month, but were still considerably lower than a year ago. The production of
Portland cement was lower than in December but
higher than in January, 1927. Portland cement
shipments were larger than in either comparative
period, while stocks made similar comparisons. New
orders for terra cotta were greater than in either the

15
preceding month or January of last year. New orders
for vitreous china plumbing fixtures were greater than
in either the previous month or the same month of
1927, while shipments although larger than in December, were smaller than a year ago. New orders for
porcelain plumbing fixtures were greater than in
December. The production of sand-lime brick, although smaller than in December, was substantially
greater than a year ago. Stocks of sand-lime brick at
the end of the month were smaller than at the end of
either the preceding month or January, 1927.

higher than a year ago. The output of acetate of lime
declined from both previous periods. More turpentine and rosin from gum were received at ports than
a year ago, but production of naval stores from wood
declined. Both exports and imports of vegetable oils
were higher than a year ago. Production of cottonseed oil declined from January, 1927.
FOODSTUFFS AND TOBACCO

The visible supply of wheat was considerably larger
than a 3rear ago, exports were smaller, while receipts

THE FOODSTUFFS INDUSTRIES
[Relative numbers, monthly average 1923-1925, taken as 100.

January, 1928, is latest month plotted]

""\

i

PRODUCTION v

100

1920
200 (

1921

1922

1923

1924

1925

1926

1921

1922

1923

1924

1925

1926

[927

1920

1927

192!

1922

1923

1924

1925

1926

1927

T-

.

1920

New contracts awarded for concrete pavements,
although smaller than in the preceding month, were
considerably larger than a year ago. Production of
glass containers, although smaller than in the previous
month, was greater than a year ago. New orders for
containers, although greater than in the preceding
month, were smaller than a year ago. Stocks of containers at the end of the month were smaller than at the
end of either the preceding month or January of last
year.
CHEMICALS AND OILS
Larger imports were made in January of both potash
and nitrate of soda than in either the previous month
or a year ago. Fertilizer consumption in Southern
States was seasonally larger than in December and



l

" 1920

h

s

i

±

h

1921

'

^

A

x

t922

-

d

i

'

[

s

'

'

.J.-l-u

J92JT 1924^^1925

:

•••,:-il:l.,ll,,|l,l,i

1926

1927

and shipments at the principal markets showed little
change. The flour output increased over a year ago,
as did exports. Corn exports and stocks were less
than in January, 1927, but receipts, shipments, and
grindings increased. Stocks of oats were much smaller
than a year ago, as were receipts, while exports
increased. Grain prices were generally higher than
in December and considerably above a year ago.
Flour prices showed little change from January, 1927.
Receipts of cattle and sheep declined slightly from a
year ago, but hog receipts were much larger. Slaughter
increased over a year ago for hogs and sheep but declined for cattle, but, for all meats, inspected production was greater. Cold-storage holdings declined for
beef, increased for pork and lard and showed little

16
change for lamb, both as compared with the end of
December and with a year ago. While beef exports
declined, those of pork and lard increased. Prices of
cattle and beef were generally higher than in December and far above a year ago, hog and ham prices
tending downward from December and decreasing
decidedly from January, 1927. Price movements for
sheep were mixed.
Meltings of sugar at refineries were larger than a year
ago, as were stocks, but exports of refined sugar declined. Sugar prices showed little change from December but were lower than a year ago. Cuban receipts
and stocks were much less than at the end of January,
1927, but exports were greater. Coffee imports were
higher than a year ago, as was the world visible supply, but stocks in the United States were lower.
Cigarette consumption continued to increase, while
cigars fell behind the previous January. Cigarette
exports also gained ovet a year ago.
TRANSPORTATION

Panama Canal traffic was lighter than in December
but heavier than a year ago. More traffic was carried
on the Monongahela River than a year ago, but less
on the Ohio and Allegheny Rivers. Carloadings declined from a year ago, grains alone showing an increase.
Both shipments and orders for freight cars were far
below last January. Locomotive shipments were
less than a year ago, though domestic shipments increased, and unfilled orders declined almost half.
DISTRIBUTION

Sales by the leading mail-order houses were seasonally smaller than in December but showed a substantial gain over the preceding year. Sales by 10cent stores were likewise smaller than in December,
showing a gain over January, 1927. Newspaper
advertising was smaller in January than in either the
preceding month or the corresponding month of last
year. Postal receipts, although smaller than in the
previous month, were larger than in the same month a
year ago.
BANKING AND FINANCE

Check payments, both in and outside New York
City, declined from the preceding month butjwere




larger than in January, 1927. Loans and discounts
of Federal reserve member banks receded from the
preceding month but were larger than a year ago.
The Federal reserve ratio averaged higher than in
December but was lower than a year ago. Brokers'
loans, made by Federal reserve member banks in
New York City, showed an increase over both the
preceding month and January of last year.
Interest rates on both time and speculative funds
averaged lower than in December. As compared
with a year ago time money-rates were also lower but
rates on call loans averaged higher. Prices of stocks
averaged higher than in either the previous month or
January, 1927. Bond prices made similar comparisons
with both periods.
Business failures were more numerous than in either
the previous month or January of last year but liabilities of failing business firms showed declines from
both prior comparative periods. Dividend and
interest payments scheduled for February showed a
decline from the preceding month but were larger than
a year ago. New paid-for life insurance, although
declining from the preceding month, was larger than
in January, 1927. The increase over a year ago was
solely due to larger sales of industrial insurance, other
forms declining.
GOLD, SILVER, AND FOREIGN EXCHANGE

Domestic receipts of gold at the mint were smaller
than in either the previous month or January, 1927.
Exports of gold, declining from the preceding month,
were more than three times as large as a year ago.
Foreign trade in gold showed an export balance in
January as contrasted with an import balance a year
ago. Domestic production of silver was larger than
in either prior period, while silver exports showed
declines from both periods. The price of silver
averaged lower than in December but higher than a
year ago. Merchandise exports were larger than in
December but smaller than a year ago, with imports
making a similar comparison. Exchanges on the
principal foreign countries showed few changes from
the previous month but as compared with a year ago?
most currencies averaged higher. Exchanges on Japan
and France, however, were lower than a year ago.

17

INDEXES OF BUSINESS
The index numbers presented in this table are designed to show the detailed 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. Many of the index
numbers have been reworked to a comparable basis on the average of the years 1923 to 1925, while maxima
and minima are given only since 1923, except on this page, thus eliminating the abnormal period prior to 1923.
Maximum
since
Jan. 1,
1920

PER CENT INCREASE ( + )
OR DECREASE (—)

1926

Minimum
since
Jan. 1, I Novem1920
ber

January, 1928,
from
January, 1927

PRODUCTION
(Relative to 1919 monthly average as 100)
RAW MATERIALS

Grand total

180

165

MINERALS

Total
Petroleum
Bituminous coal
Anthracite coal
Iron ore*
Copper
Lead
Zinc
Gold
Silver
I

|

158
220
154
101
100
148
183
138
106
101

-10.9
+ 0.9
-22.4
-13. 5
0.0
-9.9
-4.4
+ 2.2
-4.9
+ 2.7

138
314
143
177
153
245
390
192
190

80 I
19 I
47
58 ! 120
64 I
95
54 !
85
30 |! 49
21
353
45
115
94
136

+ 5.4
+ 32.4
-3.4
+ 24.6
-2.6
-11. 0
+ 5.7
+ 7.6
+ 2.8

246
242
254
405
346
170

49
43
58
50
12
18

199
108
137
202
343
142

136

61
59
51
20
24

113
110
108
184
107

138
I 142
135
133
I 152

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

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

165
256
155
122
273
152
193
149
131
145

105
41
0
0
17
78
38
57 |
80

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*

122 !
104
127 !
96 !
150 j
113 i

129
122
102
89
155
106

-19.4
-5.7
+ 40.2
-21.3
-43.9
-4.7

-14.8
+ 10.6
+ 12.6
-27. 1
-42. 0
-1.8

FOREST PRODUCTS

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

| 137
j 164
356
149

106
102
97
209
102

117
110
120
251
103

106
101
119
198
94

+ 3.1
+ 1.0
+ 34.2
+ 4.9
-16.4

MANUFACTURING

Grand total (adjusted for working days)
Grand total (unadjusted)
Foodstuffs
Textiles
Iron and steel
Lumber.
Leather
Paper and printing
Chemicals, oils, etc
Stone and clay products
Metals, excepting iron and steelTobacco
Miscellaneous

166
115
127
211
190
195
147
164

* Fluctuations between maximum and minimum due largely to seasonal conditions.

89514—28



2

-1.7
-1.7
+ 16.5
-3. 5
+ 3.2
+ 0. 8
+ 3.8
-11.9
-5.6
+ 15. 6
-13. 1
-2.6
-11.4

18
INDEXES OF BUSINESS—Continued
1936
Maximum
since
Jan. 1,
1923

Minimum
since
Jan. 1,
1923

1928 |j PERCENT INCREASE (-f) OR
1
1
DECREASE ( )
—

1927

U
Novem- DecemNovem- Decemm
January
January j 1928 f
ber
ber
ber

1927

January, 1928,,
from January,!
1927

STOCKS
(Relative to 1923-1925 monthly average as 100)
(Corrected for seasonal variation)

Total
Raw foodstuffs
Raw materials for manufacture
Manufactured foodstuffs
Other manufactured commodities

|
I
j
j
j

153
222
159
118
132

84
72
71
84
73

151
222
148
94
115

194
145
87
114

140
164
159
86
130

140
164
158
94
130

141
166
157
89
127

137
134
170
88
142

-2.8
-19. 3
+ 8. 3
-1. 1
+ 11.8

-18." 3
-J-6. 9

77 '
60 i
64 i
,
79
74

144
174
185
93
116

144
176
177
83
123

144
176
165
87
127

141
138
196
92
133

157
185
84
136

142
155
168
87
137

-2.1
-1. 3
-9. 2
+ 3. 6
+ 0.7

-1.4
-11. 9
+ 1 S
.
0. 0
4-7. 8

80
79
80
86
79

77 ii

83

70
81
87
68

85
80
91
73

67
76
71
51
61

72
69
85
57
56

81
77
89
64
79

+ 12.5
+ 11. 6
+ 4.7
+ 12.3
+ 41. 1

-2.4
g^
+ ll! 3
-29.7
-4.8

93
100
101
88
63
45
110
98
112
104

82
91
102
70
50
39
82
90
99
85

87 i
85 i
105 |
85 ;
80 i
65 !
93 |
82 !
106 j
91 !

+ 6.1
-6. 6
+ 2. 9
+ 21.4
+ 60. 0
+ 66. 7
+ 13. 4
-8. 9
+ 7. 1
+ 7.1

0.0
-1. 2
-7. 1

2. 1
+ 2.3
+ 9.2

(Unadjusted index)

Total
Raw foodstuffs
Raw materials for manufacture
Manufactured foodstuffs
Other manufactured commodities
UNFILLED

! 147
j 197
196
132
j 133

ORDERS

(Relative to 1923-1925 monthly average as 100)

Total
Textiles
Iron and steel
Vehicles
Lumber

j

-

.

| 157
154
157
j 204
142

WHOLESALE TRADE

!i
;!
I
;
ij

|

(Relative to 1923-1925 monthly average as 100)

67 !
62 !
66
53
61

I

Grand total, all classes
Groceries
Meats
Dry goods
Men's clothing
Women's clothing
Boots and shoes
Hardware
Drugs.
Furniture
RETAIL TRADE

|
i
!
I
]
j
j

64 i 142 ; 154
j

250
199
192
169
160
161
163

62 i
i
77 !
!
82
79
70
55

133
130
156
128
108
123
114

185
118

70
81

124
118

109
112 !
114 i
114
107
112
106 I
111 i
107 |

90 1 97
90
97
93
85
87 i 99
86 i 94
88
98
97 ! 106
104
88
91
103

110
108 i

99
87
91
82
91
82
86 1 106

97
102
112
98
61
45
104 j
100 i
112;
111 !

84
94
106
71
44
42
76
93
100
94

87
86
113
78
68
71
92
82
102

i
i
i
|
!
1
1

+ 9. 0
+ 17. 6
-S. 5
+ 1. 1
0. 0
4- 3. 9
+ 3. 4

j

(Relative to 1923-1925 monthly average as 100)

j

MAIL-ORDER HOUSES (4 houses)
CHAIN STORES:

Ten-cent (5 chains)
Music (4 chains)
Grocery (27 chains)
Drug (9 chains)
Cigar (3 chains)
Candy (5 chains)
Shoe ( 6 chains)

82
86
87
71
43
26
68
82
88
72

156

•

124
119
125
128
167
188
128
118
125
129

.

•_
_

64 jj

I
|
j
!

100 I 149

167

105

-37.1

+5

250 95
199 84
168 156
169 135
97
160
95
161
163
81

142
114
190
144
105
125
118

274
157
203
181
155
164
178

102
86
188
153
90
100
84

-62. S
— 45. 2

+ 7. 4
+ 2. 4

-7. 4
-15. 5
-41. 9
-39. 0
-52. S

+ 20. 5
4-13. 3
-7. 2
+ 5.3

90
94

123
116

199
99

105
90

-47.2
-9. 1

+ 16. 7
— 4. 3

DEPARTMENT STORES:

Sales (359 stores)
Stocks (314 stores)

185
97

+ 3. 7

EMPLOYMENT
(Relative to 1923-1925 monthly average as 100)

Number employed, by industries:
Total, all classes
Food products
Textiles
--- Iron and steel Lumber
~
Leather
- Paper and printing
Chemicals
Stone, clav and glass
Metal products other than iron and
steel
Tobacco products
__
__ _
Vehicles
_
Miscellaneous.. _



no i

115 I

97 i
95 !

95

•

99 !
92 i
97 1
106 1
102 i
98
97

91
89
109

!
i
j

95
93 i

92

95
94
95
97 1 88
87
98 i
90
97 i
104 1 105
103 ! 96
95
91 !
96;
82 !
87 !
108 !

105
95 i
91

90
91 i
93
87
80
92
104
94
85

89
89
83
97

87
82
85
96

91
!
!
;

|
!
!
j
|

90 |
93 I

82 |
96 !

94
94
87
83
88

5.3

-1.1
-3. 2
-1. 1
0.0
-3. 6
+ 4.5 i
-1.0 !
~1. 1
-6. 6

o 2
9 |
-10. 3
9. 1
o. 2
0. 0
— S. 7
— 0. 6

-2.2
-7. 9
+ 2.4
-1.0

-9. 4
0.0
-2. 3
-11. 1

19
INDEXES OF BUSINESS—Continued
t<v9<i

1927
1926
MiniMaximum
mum
since
since
!
Jan. l, Jan. 1, Novem- Decem- " 7
i
ber
January Novem1923
1923 ; ber
b(}r

EMPLOYMENT—Continued.

PER CENT INCREASE ( + )
OR DECREASE ( —)

•iJanuary, 1928, January, 1928,
January from Decem- from January,
ber, 1927
1927

I

(Relative to 1923-1925 monthly average as 100)

!

i;
:;

|

Amount of pay roll, by industries:
j
Total, all classes
J
Food products
I
Textiles
I
Iron and steel
|
Lumber
j
Leather
I
Paper and printing
j
Chemicals
j
Stone, clay, and glass
I
Metal products other than iron and steel-j
Tobacco products
__!
Vehicles
Miscellaneous
PRICE INDEX

93

96
96
96
99 |

94

94

94
81

110
106
90
95
81

112
i 101
I 97
! 88
i 95

-3.2
-2. 1
-2.0
-3. 3
-9. 0

79 i 84
113 ! 97

94
97
95
90
89
83
114
102
93
90
92
86
105

91
95
93
87
81
88
111
100
86
87
82
83
100

120
137
140
161
81
91

126
137
120
120
140
136
140 ' 141
152 i 153
85
162
87
86

137
123
141
138
158
153
90

137
125 :
144
138 i
154
152
91

95
101
100
96
103
101
100
99
99
91

95
101
100
95
99
100
99
99
99
90

97
97
97
101
94
98
99
98
98
98
90

97
104
102
114
98
83
97
90
97
99
88

97
104
101
117
97
83
98
90
97
99
89

96
106
99
121
97
81
98
91
96
99
89

-10
+ 19
.
-2.0

126
159
150

126
158
149

125
157
150

119
161
155

85
95

100
99

100
99

98
97

103
105

102
105

102
105

0.0
0.0

172
158
167
141
186
167
177
160
179
156
208
174
123 I 118
176 | 171

168
162
174
173
170
195
121
173

168
162
173
174
169
194
121
174

167
159
173
173
168
192
121
174

164
157
167
171
163
184
122
173

164
163
156
155
166 ! 166
171
172
163
163
184
184
122
122
173 i 172

-0. 6
-0. 6
0.0
+ 0. 6
0.0
0.0
0.0
-0. 6

-5.2
-1. 0
-3. 1
-12. 1
-8.0
-6. 4

120
160
155

85
90
78
79
88
84
94
89
84
81
81
79
86

101
99
92
104
102
94
112
108
107
99
96
94
108

101
98
97
104
98
93
114
108
103
99
93
88
115

152
178
253
154
166
252
108

125
108
108
98
122
81
79

130
121
136
142
157
88
97

m

105
114
106
113
; 114 I
112
113
116
104
111
127

94
94
85
98
94
84
97
92
95
98
88

150 ! 119
169
150
169 i 146

111 |
108 I
115 !
117 |
107 I
117 |
114!
114
111 j
114 j
Ill !
114 '
119

+6 0
.
-2. 6
-2. 0
-7. 5
-3. 3
-10.9
-3. 5
-4.8

+ 0. 9
-6. 7
-4. 4
-8. 4

+ 1 2
.
+5 1
.
-11. 5

NUMBERS

FARM PEICES
(Relative to 1909-1914 average as 100)

All groups
Grains
Fruits and vegetables
Meat animals
Dairy and poultry
Cotton and cottonseed
Unclassified

0. 0

+1.6
+ 2. 1
0. 0
-2. 5
-0. 7

+ 8. 7
+ 4.2
+ 2. 9
-1. 4

+1 3
.
+ 78.8

+1. 1 ; + 4. 6

WHOLESALE PRICES
Department of Labor Indexes
(Relative to 1926)

All commodities
Farm products
Food, etc
Hides and leather products
Textile products
Fuel and lighting
Metals and metal products
Building materials
Chemicals
House-furnishing goods
Miscellaneous

+ 3.4
0.0
-2. 4
0. 0
+ 1. 1
-1. 0
0. 0
0. 0

-1 0
+9 3
.
+ 2. 1
+ 19.8
+ 3. 2
-17. 3
-1. 0
— 7. 1
-2. 0

+ ]. 0
-1. 1

(Relative to 1913)

Classified by state of manufacture:
Producers' goods
Consumers'goods
Raw materials
Commercial Indexes

1
I
|

(Relative to 1926 monthly average as 100)

Dun's
Bradstreet's__

-

! 105 |
112 j

+ 4. 1
+ 8.2

COST OF LIVING
National Industrial Conference Board Indexes
(Relative to July. 1914)

All items weighted
Food (Dept. Labor)
Shelter
„
Clothing
Fuel and light (combined)
Fuel
Light
Sundries




i

!
i
j
!

«j
9

4
5
0
—i! 6
-0.
3 0
-4. 2
+0 8
.
i
1

20
STEEL CASTINGS1
NEW ORDERS, TOTAL
MONTH

1920

1922

1921

1924

1923

1925

1826

1922

1927

81,011
85, 610
127, 988
100,846

May
June.
July
August

99,619
87,8"
81,935
81,108

September
October
November
December

i
i
|
|

126,188 I
112.080 j
171,659
117,803 I

69,615
91, 258
126,599
93,146

103,881
81,703
83,527
87,172

! 93,302 !
| 105,927 I
I 83,795 j
! 82,307 !

117,416 I
109,359 i
73,249
75,876

79, 705
67, 753
54, 301
50,102

78,098
66,103
71,993
70,881

71,260
64,339
63, 599
60, 761

75, 769
82,886
91,158
115,341

45,618
48,550
62,290
89,644

39,430
37,094
32,489 '
25,862 |

82,845
61,794
55, 079
47, 781

23,966
23,829
21,720
25,256

116,195
98,028
2,114
89, 598

Total
Mo. av

997,368 '• 1,163,589
83,114 I
96,966

i
|
!
|

I

1920

1921

i 1922 i 1923

1925

1927

32
30
26
21

37
40
51

98
87
134
92

52 i
68 |
94
69 |

76 :
60 ,
61
64

80
73
81
65

75
66
62
56

84,166
73,465
79,470
71,011

72,744
90,898
74,246
63, 528

80
71
66
65

19
19
17
20

76
86
68
67

91
85
57
59

59 i
50 i
40 !
37 1

57
48
53
52

60
53
57
51

50
63
52
44

69,495
77,549
73,234
89,805

52,351
51,748
62, 683
76,953

67
50
44
39

24
32
40
33

95
80
67
73

55
50
50
47

56 i
61
67 i
85 |

45
59
63
77

50
56
53
65

36
36
43
53

918 698
76, 558 I

67

26

68

75

I
62 j

60

62

53

1928 i

1927

61,949
80, 206
86,688 I
105,547
977,748
81.479

05
107,779
94,683 | 69
90,041
103
81,044
81

111,958
101,120
113,363
91,142

1,035,778 .
86.315 I

RAILWAY SPECIALTIES
MONTH

1924

Per cent of capacity

Short tons
January
February
March
April

i 1923

MISCELLANEOUS

1924 1925

1924

1925

29,
30,147
I 67,272
i 45,356

September
October
November
December

15,968
17, 636
13,446
,065

26, 469
24, 970
32,112
55,124

63,633
52,272
93,690
55, 613

29, 658
44,804
75,929
,896

52,392
38, 299
35,012
39,797

53,368
46,485
50,229
27, 678

53, 461
41,355
34,680
32,279

51,403
55,463
60,716
55,490

23,462
19,458
19,043
16, 797

19,149
23,580
30,178
34, 520

62, 555
59,808
77,969
62,190

,957
46, 454
50, 670
43,250

51, 489
43, 404
48,515
47, 375

44,965
31,974
34, 789
37, 640

January
February
March
April

,105
8,775
7,691
10,291

52,132
61,149
43,127
33,273

55,137
55,903
28,092
34, 210

42,490
36, 985
25,
21,705

34,877
24, 277
,050
27, 259

33,323
18,180
30,969
24, 413

28,946
39,455
31,011
21,144

54,654
55,875
47,146
43,468

15,861
15,054
14,029
14, 965

41,170
44,778
40, 668
49,034

62,279
53,456
45,157
41, 666

37,215
30, 768
28,992
,397

43,221
41,826
43,943
43,622

41,187
24,793
23,144
18,768

13,140
20,961
26, 362
21.005

68,106
49, 223
35, 554
40, 521

36,092
39, 405
50,857
63,947

21, 268
29, 734
39, 459
53, 223

22, 761
28, 980
28, 678
39,881

18, 396
16, 625
27, 639
39,112

41, 658
37, 001
31,935
29,013

16,404
18, 776
23, 951
20,167

48,089
48,805
46, 560
49,077

34, 232
36, 807
35, 614
33,382

39,677
43,481
40, 301
51,394

40,681
46,734
50,472 ! 48,569
47,229 ; 44,556
52,324 i 49,924

517,077
43,090

423, 647
35,304

j
____|
!
!

Total

Mo. av

I 429,643

J 35,804

384,103 i 563,822
32,009 I 46,985

58, 590
54, 635
63,134
63,464
1
|
|
i

54,318
53,328
55,361
48, 765

50,843
55,285
48,501
46,598
33, 955
35,123
35,044
37,841

554,101 i 630,833
46,175 : 52,569

PER CENT OF
CAPACITY
Railway
specialties

Railway
specialties

Per cent of
capacity
96,583
95,420
I 115,096
! 113,321

87,086
,915
102,836
94, 677

102, 795
98, 750
90,569
84,753

86, 942
87, 767
79, 726
87,004

September.
October
November.
December..

82, 625
82,800
88,514
84, 729

70,024
62,409
58,997
58,220

Total.

1,135,955

964,603 I

|

94,663

80,384 ||

68 |

January
February
March..
April
May

June
July—August..

M o n t h l y average.
1

83 I
81 |
74
71
65
61

I
j
i
!
|
!

!
!
!
j
|

59 j
59
64 !
61 ;

Short tons (average monthly)
38,938
42,944
49,995

34,037 1 57,645 ! 53,049
1
35,322 !| 52,476 53,593
41,232 !i 65,101 61,604

45,718

39,189 | 67,603 55,488
|

46,063 35,236 ! 56,732 51, 706
36,564 ! 34,596 i 62,186 53,171
|
32,677 ! 32,576 i 57,892 47,150
28,163 32,397 56,590 54, 607
24,424
26,915
25,024
29, 591

25,618
21,947
19,146
19,358

| 58,201 44,406
!
| 55,885 40,462
i
j 63,490 39,851
i
I 55,138 j 38,862

427,016 370,654 i |708,939 593,949

|
l

56 ! 35,585

30,888 j| 59,078

49,496

1913.
1914.
1915.
1916.
1917.

87, 700 38, 500
88,600 38,700
92,400 42,200
97, 700 42,300
106,800 1 46,300

49,200 j 60, 734
49,900 45,730
50,200 66, 380
55,400 106,246
60,500 ! 95,191

30,639 30,095
22,857 :22,873
31,537 : 34,843
59,003 47, 243
40,379 |54,812

69
52
72
109
89

:

80
59
! 75
' 140
| 87

61
46
69
85
91

1918..
1919..
1920..
1921..
1922..

111,300 46, 300
116, 200 46,600
124, 300 51,800
124,900 51,800
122,800 ! 54,300

65,000 !113, 612
69, 600 i 47, 956
72,500 82, 789
73,100 32,534
68,500 83,114

51,084 !62,528
16,788 i 31,168
35,804 46,985
14,370 18,164
43,480 39, 634

102
110
41
36
67 j 69
2 6 '•
28
68 : 80

96
45
65
25
58

1923_.
1924..
1925..
1926..
1927..

128,600
135, 200
136,800
139,300
144,300

57,300
61, 500
61,600
63,500
66,600
1

71,300 96,966
73, 700 !83,136
75, 200 81,479
75,800 ! 86,315
77,700 i 76, 558

46,540
43,090
35,304
33, 745
32,009

50,426
40,046
46,175
52,570
44,549

75
62
60
62
53

1
!
!
!

81
70
57
53
48

71
54
61
69
57

!

Compiled by the U. S. Department of Commerce, Bureau of the Census, from reports of 129 identical firms, including reports collected through the Steel Founders*
Society. Thesefirmshave a monthly capacity of 145,600 tons, at present representing over 80 per cent of the capacity of the industry for commercial castings (as distinguished
from castings used in further manufacture in the same plant), of which 67,300 tons is usually devoted to railway specialties and represents the complete capacity of that branch,
while 78,300 tons is generally devoted to miscellaneous castings. New orders for 1925 were 6 per cent larger than the production of direct steel castings manufactured for sale
and interplant transfer by steel works and rolling mills and represented 93 per cent of the total of these direct steel castings and of steel castings manufactured in the foundry
and machine-shop industry, according to the census of manufactures for 1925. Railway specialties include such items as bolsters, sidearms, draft arms, couplers, and caststeel car wheels. Owing to reports from additional firms, these figures represent revisions of those shown in the Record Book of Business Statistics, Metals and Machinery
:tion.
S ection Figures for January, 1928, are shown in the table "Trend of Business Movements" in this issue.




21
FABRICATED STRUCTURAL STEEL
NEW ORDERS
1923

1922

MONTH

1926

1925

1921

j 1927 I 1922

1923 j 1924

258,400

227, 760
243, 360
290,160
243, 360

224,940
228, 200
221, 680
208, 640

187,380
194,320
225, 550
256, 780

208, 800
208, 800
234, 000
252, 000

May
June
July.—
August .

240,160
221,920
206,720 ;
206,720 ;

180,960
165, 360
162, 240
184, 080

192, 340
208, 640
221, 680
192, 340

229, 020
284,540
274,130
267,190

266, 400
262, 800
248, 400
284,400

232,500 i
228,750
345,000
273,750

September..
October
November,.
December..

194,560
176,320
152,000 :
185,440 i

165, 360
159,120
171,600
249, 600

211,900
211,900
270,580 |
247,760 i

270,660
298,420
239,430
253,310

216,000
230,400
223, 200
255, 600
2,890,800
240, 900

2, 640, 600
220, 050

2, 442, 960
203, 580

2 1,842,240
2
204, 693

3,060,000
255,000

67

1924

1925

1926

i

!
!
i

1924

1927

1

52
65
62
70

59
64
68
59

66
82
79

74
73
69
79

62
61
92
73

65
65
83
76

86
69
73

60
64
62
71

70
77
63
69

68

72

67

68
64

77
78

1926

ANNUAL
ORDERS

Short tons

|
1925

Per
cent
of ca- Short tons
pacity

YEAR

1927 i

I

j

Per cent of capacity

Short tons

52
54
59
62

73
74
79
78

65
60 :
.77
76
74
83
83
78 1

77
85
72
77

79 !
79
69
71

72
67
66
64

1913
1914
1915.
1916
1917
1918
1919
1920.
1921
1922
1923 .
1924..

72

7
5

64

1926
1927

January..February.

M arch
April

195, 600
189, 080
202,120
221, 680

190,850
201, 260
242,900
246,370

234,000 !
216,000 i
277,200 i
273,600

195, 000
202, 500
221, 250
232, 500

60
58
62 ;
68 i

55
58
70
71

May...
June.....
July.....
August.

221, 680
237,980
254, 280
231,460

253,310
256, 780
274,130
270, 660

266,400
298,800
298,800
280,800

232, 500
258, 750
258, 750
247, 500

September .
October
NovemberDecember—

237, 980
247, 760
211,900
205, 380

267,190
294, 500
249, 840
267,190

284,400 !
284,400 j
248,400
255,600

270, 000
251, 250
247,500
240, 000

68 |
73 i
78 ;
71
73
76
65 :
63 :

2, 656, 900
221,408

3, 014, 980
251, 248

68

Monthly avera

58
58
65
70

69

MONTHLY CAPACITY

SHIPMENTS

MONTH

79 I
73
68

54
56
65
74

65

85 j

70

58
53
52
59

262,500 :
288,750
236,250
258,750

2,980, 730
248, 394

73
78
93
78

53
51
55
80

195,000
243,750
232,500
262,500 :

Total
M o n t h l y average

1927

Per cent of capacity

Short tons
January. FebruaryMarch
April

1925 1926

3,218,400 ! 2, 857, 500
238,125
268,200

62
69
69
66

214,200
216,080
219,800
227,865
232, 400

1,215,000
1,422,720
1,995,840
2,056,320
1, 713,360

248,810
257, 250
266,420
272, 700
292,800

258, 000
266,000
276, 000
283,000
304, 000

1, 733, 760
1, 723,680
1, 788,480
1,188,600
2,334,720

301, 590
315, 565
333, 520
348, 265
363, 770

. .
.

225, 000
227,000
231,000
238, 000
242,000

312, 000
326, 000
347,000
360, 000
375,000

2,432, 960
2, 640, 600
2, 980, 730
2,890,800
3,060,000

1
Compiled by U1JU C . O. J-/C[Jlll IWCIt/l, UJ ^UIIllllCI LC, JJ U-l Oil LL VJ LILV L C / M U ^ , 1including 1CJ.JU1UC1 U U i i l the LC/H-/U1/ X UUI itllCU / O Association. Originali reports from 229 identical
the U. S. Department of Commerce, Bureau of the Census, l_l(Jl U l l l i l g , reports from 1/11C Central Fabricators / l O O U L l U U U I t . \J I I g l i i a I CJ.IU1 IB l i VJ
firms, including 27' additional firms now out of business, with a capacity in 1928 of 305,685 tons per month, have been prorated to the estimated total capacity of the country,
. ~e_...
f 435 firms, this total capacity increasing from 304,000 tons per month in 1922 to 375,000 tons in 1927, which is also used for the 1928 figures, Owing to the
additional number < firms reporting, these figures show slight revisions from those carried in the Record Book of Business Statistics, Metals and Machinery Section, for
r of
Machin
years since 1921.
2
Nine months.
hO^Pfl

OD rPT"lOr1^

Of 4 H ^

f^vmr<

+ V»ic f A f n l

/innnnif\T

in/i*»Anoni(T

f^A-/.

*2fiA

f\(\f\ + s\n c r^rtr* m A - n f V i

i r\

1 OO
O

fr» *37^ f\(\C\ + rvn o

i n

T O
O T

TTrKinh

io

oloA

ncflH

fr>t* fVirt

1 OQ
O

firrnrno

fWTTii-irr

f/-v + Vin

MISCELLANEOUS DATA
CLINKER, STOCKS AT CEMENT
MILLSi

GASOLINE, TANK-WAGON
PRICE 3
1825

STEEL
BARS,
SHIPMENTS,*
1927

Dollars per gallon

STREET-RAILWAY FARES 2

Tons

MONTH
1923

1924

1925

1926

1926

1923

1927

T h o u s a n d s of barrels
January
February
March
April

J

4,015
4,646
; 5,174
J 5,006
!

May
June
July
August
September
October
November
December

..!
I
!
I

:

Total.
Monthly average...

I
!
!
!

Ce

9,989 !
| ' 5,458 I 7,017 9,074
j 6,905
8,497
10,931 j 11.943 •!
1 8,271
9,962 12,290 j 12,997 :
I 8,545 I 9,73112,967 13,335 i

4,470
8,225 I 9,053 11,695 12,514
4, 172
7, 609
7, 937 10,144 I 10,926
3,865 j 6.646 ! 6,961 8,604 I 9,609
3,759
5,367 j 5,640
7,362 j 7,887
3,379
3,008
2, 908
3, 783

4,260 i 4,561
3,548 ! 4,086
4,025 ! 5,013

5,433 I 6,469

4,015 I 6,191 I 7,077

2
2

6,112 I 6,490
5,370 5,960
5, 748
6, 374
7, 799
7, 599
9,008

1923

7.433
7.299
7.281
7.385
7.378
371 j 7
7.371 ! 7.2

7.361
7.361
7.350
7.343

7.275
7.285
7.292
7.316

7.326
7.326
7.319
7.299

7.309
7.306
7.309
7.324

:
:

7.651 :
7.658 ;
7.669 i
7.673 :

:$C. 177 $0,107 !$0.162 !$0.175
I .189
.191 I .173 \ .170
1 .189 ! .187 ! .185 i .162
! .189 • .184 ! .185 i .153

7.331
7.335
7.338
7.349

7.507
7.529
7.537
7.537

7.407
7.441
445
449

7.548 7.698 :
7.570 ; 7.698 i
7.592 : 7.698 !
7.596 i 7.709 ;

7.871 .200 .186
7.919 1 .200 . 177
7.944 ; .191 .165
7. 952 I . 162 .158

7.596
7.596
7.599
7.618

7.952
7# 985
7.999
8.018

467
478
500
' 504
.

9,635 i 7.354 j 7.296 ; 7.420

I
!
I
I

7.720
7.757
7.764
7.779

7.805 $0,195
7.841 .215
7.841 .215
,
7.852 • .206

1924

!

. 158
.145
.137
.143

.181
.194
.194
.167 I

.140
.138
.139
.139

7.706 j 7.915 i .181 | .166

.196 ; .147
.197 ! .149
.197 1 .149
.196 ! . 146

.158
.192 ! .144
. 155 I . 182 ! . 143
. 158 j .176 1 .142
. 161 ! . 176 i . 143

;

.175 .185

.152 i

34,
39,
48,
39,

887
408
032
897

37,
36,
30,
30,

379
822
605
300

27, 860
27, 656
27, 026
28,497
408, 369
34,031

Compiled by V. S. Department of Commerce, Bureau of Mines, from practically all cement plants.
Compiled by the American Electric Railway Association and representing the average cash fare charged by electric railways based on rates in effect in 272 cities of over
25,000 population, according to the 1920 census, excluding 16 cities in which zone fares are in operation, precluding the computation of a definite average.
3
Compiled by the Oil and Gas Journal, representing the average tank-wagon price of gasoline in 50 cities at the end of each month, exclusive of tax. Taxes at the end of
1927 averaged 3.1 cents per gallon. Details by cities are shown in the publication.
* Compiled by the Cold Finished Steel Bar Institute, estimated to represent from 60 to 70 per cent of the industry. January shipments were 45,010 tons.




22
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, 1928), 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 or relative numbers, including base periods, see introduction
on inside front cover.
1938

1927

The cumulative* shown are through December except where otherwise noted.
Earlier data for items shown here may
be found on pages 24 to 138 of the February, 1928, tf Survey '*

Jan.,

Jan.,
August !

Se

£i e r m "

October

December

November

CUMULATIVE TOTAL
FROM JANUARY 1
THROUGH DECEMBER 31

PER CENT INCREASE ( + ) OR
DECREASE (—)

1927

January January

•! c u m u -

1928,

1928,

from
Dec,
i 1927

(Per ct.
il inI crease
! I (+)
I or de:
icrease
il ( - )

1927

from
Jan.,
1927

i lative

!i 1927
! from
!! 1926

TEXTILES
Woo!
Receipts at Boston:
j
Total
_..,
thous. of lbs..|
Domestic
thous. of lbs..!
Foreign
thous. of lbs..j
Imports:
j
In condition imported
thous. of lbs..!
Grease equivalent
thous. of lbs..I
Consumption by textile mills,
•
grease equivalent
thous. of lbs..j
Stocks, grease equivalent, end of quarter:
!
Total
_
thous. of lbs__L.
Held by manufacturers
_thous. of lbs__L
r
Held by dealers
thous. oflbs.-L.
Machinery activity, hourly:
Looms—
I
Wide.
per ct. of hours active..:
Narrow
per ct. of hours active..!
Carpet and rug
per ct. of hours active. J
Sets of cards
per ct. of hours active.,\
Combs
per ct. of hours active. J
Spinning spindles—
j
Woolen
per ct. of hours active. J
Worsteds
.per ct. of hours active. J
Prices:
j
Raw, territory, fine, scoured—dolls, per lb..|
Raw, Ohio and Pa.
fleeces,
j
M blood, combing, grease...dolls. perlb-J
Worsted yarn
.dolls. perlb-J
Women's dress goods, French
i
serge, 39 in
dolls, per yd i
Suiting, 13-oz
dolls, per yd..^
Cotton

35,499 !
29,891
18,425
21,754
46,504

15,205
8,972
6,233

15,442
8,794
6,648

17,281 !
8,044 i
9,237 1

19,743 +11.9
6,081 , - 8 . 5
13,662 +38.9

15,832
18, 933

21,053
24,535

20,179
23,936

17,924
20, 566

24,759 i
28,353 !

48,153

49,122 j

46,322

41, 691

45,087 !

46,389

65
57
79
83
78
65

88

66
64
67
7Q
/y
83

63 !
|
58 I
68 !
'
77 h
71 !
77
65

66
67
64
R4.

79
74

80
72

1.12

82
71
1.12 ,

1.12

1.12

.44
1.35

.45
1.38

.47
1.40

.48

.98
1.913

1.00 j
1.913 I

342,549 ! —1.9
219,190 ! +29.5
123,359 >| - 3 1 . 5

27,542 +38.1 -10.1
30,642 i +37.9 : - 7 . 5

310,266 i
336,207 |

268,659 i -14.1
!
304,825 j! -9.3

510,033 |

551,529 '

17,094 !
362,786 !

16,036
411,216

+8.1

-2.8

-15.0
-4.0
-25.6

68
65
65
75
84

-1.6
-10.3
0.0
+1.8
+5.6

-8.8
-20.0 !

72|
75

+1.3
+1.5

62
52 ;
68
78
75 i
78
66 ;

1.14 |

1.17

.49 I
1.40 !

.50
1.43 ;

.44
1.38

1.00 !
1.913

1.00 |
1.917 !

1.00 '
1.935;

1.00
1.895 !

!

+8.1

-6.4

!

1.40

-32.4

! 3 324, 578
! 8 160,159
! 8 164,419

I J 303, 668
I 2 168,458
I 3 135,210

64
65
65

349,224 |
169,260 |
179,964 |

-12.5

+32.3

+4.6 i
+4.0 !

-10. 7 I

+8.3 !
-12.0 !

f-2. 6 +8. 3
+2.0 +13.6
+3.6
+2.1

+.9

0
+2.1

1,575 I - 4 5 . 9
41,445 ! 56,939 • + .6

-43.0
-27.2

767,314 I 728,935 1,115,792 | - 5 . 0
543,598 ! 582,417 ; 603,242 | +7.1
|
6,721 ;
8,011 t - 8 . 7
7,363!
0.
1,707 !
1,852 I
1,707 \
6,159 | - 1 1 . 4
5,014
5,656 !
I
8,796 | - 4 . 5
7,501 i
7,163
7,227 I - 9 . 5
5,470
6,041;
|
.187 !
.186
.106 !
.196
. 190
.134 j -3.1

-34.7
-3.5

0

j
2,000:
2,837
28,346 j 19, 235
631,041 1,126,509
627,321 | 612,935

2,571
28,845
999, 501
625, 680

5,083 !
1,119 i
3,965 j

6,760
1,327 I
5,433 j

7,521
1,551 !
5,969 !

5,356 '
4,108 ;

6,479 !
5,297 |

7,314 !
6,074 i

.225
.218

:
:

.210 |
.211

.200
.203

1,660 i
41,211 [

:

9,048, 3J 2 I 9,475,394
| 6, 683, 649 | 7, 406, 637 :

-6.2

+13.3
+4.7
+10. 8

-16.1 |
-7.8 !
-18.6 !
-18.6
-24.3
+75.5 I
+41.8 !

|

Machinery activity of spindles:
j
Active spindles
thousands..)
Total activity
millions of hours..|
Activity per spindle
hours..j
Ratio to capacity
per cent..;
Carded sales yarn:
i
Production
thous. of lbs..
Stocks, end of mo
thous. of lbs..
Unfilled orders, end of mo
thous. of lbs..
Prices of yarns:
22/1 cones, Boston
..dolls, p e r l b . .
40/1 s, southern spinning
dolls, per lb...

32,239
32, 343
8,973 : 8,761
245
240 i
103. 5
107.0 |
13,286 ! 17,618 !
9,393 i 8,570 !
24,415 | 24,124 j
I
.387 i
.406 !
.512
.547 I

Cotton Goods
Cotton textiles:
I
\
Production
thous. of yds..j 245,605 ;
Stocks, end of month
thous. of yds..' 201,217 !
Unfilled orders, end month..thous. of yds.J 491,960 !
New orders
thous. of yds..I 255,992 \
Shipments
thous. of yds.J 221,915 :j
Weeks sold ahead
number..!
4.73
Fine cotton goods, production
pieces._i 486,395
2
Quarter ending in month indicated.




16, 578
9,033
7,545 j

a 357,107
a 175, 436
» 181, 671

832
Receipts into sight
-thous. of bales..j
Imports, unmanufactured
bales..: 28,041
Exports, unmanufactured
I
p> (including linters)..
bales_.| 340,311
Consumption by textile mills
bales..! 633,434
Stocks, domestic, end of month:
I
3,295
Total, mills and w'houses-.thous. of bales..!
1,122
Mills
thous. of bales..!
2,173
Warehouses.
thous. of bales. J
Stocks, world visible, end of month:
\
Total
thous. of bales..!
4,480
American
thous. of bales..;
3,131
Prices:
!
To producer
dolls, per lb.J
.171
In New York, middling
.dolls, per ib.J
.203
Cotton Yarn

16,956
11,799
5,157

346,902
201,920
479,368
333,607
346,199
4.00
496,697

32, 498
32,269
8,705
8, 680
238
238
105.3 [ 107.2

31,715
7,859
215
94.3

31,698
8,259
227
101.5

16,619 ! 17,162
10,165 ' 11, 580
27,220 ; 34, 692

21,160
12,880
40,115

18,934
13, 444
38, 287

.402
.546

.383
.530

.371
.522

I 331,854 321,621 372,042
! 257,011 ! 292, 535 * 336, 501
| 432,447 340,221 386,726
! 225,560 193,871 374, 581
i 293,411 286, 097 328,076
2.11
.59
!
i 466.529 472, 298

I
.369 I
.523 i

32, 636
8,554
229
102.0

— 2 . 9 IL
- 3 . 4 I.
- . 9 i!.
- . 5 i!.

-10.5

+4.4

-4.6

.301
.460

228,933
216,212
441, 799
376,811
259,955
3.94
401,676 I 441,484 !
Quarter ending December 31, 1926.
297,669
367,223
313, 893
194,114
266,947

-.1

+5.1
+5. 6
+7.6
:

-.5

+.2
-20.0

+9.i :
;

-18.8
-48.2
-18.6

-14.3

+22.6 |
+13.7

+30.0
+69.8
-29.0
-48.5
+2.7

2,628,293

3,334,232 : +26.9

2, 713,401
2,649,775

3,302,466 : +21. 7
3,261,613 |, +23.1

- 9 . 0 I 4,836,237 i 5,770,419 :; +19.3
* Revised.

23
TREND OF BUSINESS MOVEMENTS—Continued
1927

The cumulatives shown are through December except where otherwise noted.
Earlier data for items shown here may
be found on pages 24 to 138 of the February, 1928, " Survey "

CUMULATIVE TOTAL
FROM JANUARY 1
THROUGH DECEMBER 31

PER CENT INCREASE ( + ) OR
DECREASE (—)
Jan.,
1928,
from

Jan., j !
1928, |
from j j

Dec,

Jan., !j

1927

1927

1926

1927

il

Per ct.
increase
or decumulative
1927
from
1926

TEXTILES-Continued
Ootton Goods—Continued
Cotton cloth:
Imports
thous. of sq. yds..
Exports.
thous. of sq. y d s . .
Fabrics for tire manufacture:
Consumption
thous. of lbs..
Prices:
Print cloth, 64 x 60
dolls, per y d . .
Sheeting, brown
dolls, per yd._
Cotton goods (Fairchild), val. 1911-1913

513,300

63,016
551,846

+3.8
+7.5

165,965

177,979

+7.2

974, 569
942,782
568,228

+28.0 1
!
-12.2 1
1

1,013,493
980,525
593,138

+4.0
+4.0
+4.4

Cotton Finishing
White, dyed and printed (outside mills):
Billings, finished goods (as
produced)
thous. of yds..
New orders, gray yardage---thous. of y d s . .
Shipments, finished goods
.eases..
Stocks, finished goods, end mo
cases..
Operating activity
per ct. of capacity..
Unfilled orders, end of month
days..
Printed only (cotton mills and
outside)
thous. of yds..
Silk
Imports, raw
_
thous. of lbs..
Deliveries (consumption)
bales..
Stocks, end of month:
At warehouses
bales..
At manufacturing plants
bales..
Price, Japanese, 13-15, New York .dolls, per lb._
Rayon
Imports
thous. of lbs_.
Stocks in bonded warehouses,
end of month
thous. of lbs..
Price, 150 denier, A grade, N . Y . .dolls, per lb__

84, 780
82,407
52,399
37,092
68
5.8

84,899
87,386
52,316
37,053
72
5.8

85,490 i
77,296 |
50,175 j
39,094
73 :
5.4 •

77,239
69,073
44, 671
41,350
61
4.4

77,885
69,836
43,287
41,059
59
3.9

68,737
75,665
44,673
40,751
62
4.7

51,688 j

58,673 !

64,943 \

57,006

48,574 !

9,347 i
47,042 |

7,625
50,107

7,942
47,827

5,899
46, 947

7,541
43,357

22,100
5.096

62,366
25,967
5.145

52,069
26, 530
4.802

53,540
24,282
4.998

47,528
25, 632
5.145

1,528

1,129

i, 386:

«1,052 i
1.50 |

1,875
1.50

1,674
1.50

-9.0
-14.6
-8.7

7,405
52,420

56,618
22,218
5.145

-11.7

49,826

1,285
1.50 j

!
;
|
'
•
i

75,510
88,603
48,936
36,581
69
6.8

+8.3
+3.2
-.7

+5.1
+20.5

+11.4
-10.1

-30.9 1

1,764

2,549 I
1.50 I

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

cut:
thous. of garments..
thous. of garments..
thous. of garments..
dozen garments..
dozen garments..
dozen garments..

1,308 i
1,080
<932
1,577 !
1,413 i
1,349
«542 !
551 !
530
I
332,918
299,695 | 304,376!
328,497
332,458 ! 290,626
360,331 i 329,537 ! 353,427

957 i
1,250 !
333 j

1,203
1,394
242

276,989 ! 201,606
223,044 | 154,885
388,139 I 413,573

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

3,807 !
4,016 !
8,093 |
3,892 !
6,018 j

3,841
4,355
7,695
4,896
6,407

4,151
4,294
7,965
4,246
6,481

3,863
3,927
7,568 ;
3,838 i
6,167

3,386
3,646
7,640
3,183
5,395

thous. of dozen garments..
thous. of dozen garments..

1,082 i
1,369 |

1,055
1,464

1,181
1,359

1,181 i
1,230 i

973

thous. of dozen garments..
thous. of dozen garments..

1,434 !
1,434 j

1,216
1,241

1,322
1,147

1,073 i
1,046 |

1,100 !|
924 ! I

thous. of dozen garments..

2,543 j

2,416

2,185

• 1,967

40,337
18,284

37,396 I
16,705 !

25,089 I

44,451
23,862

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

1,925 1
1

Burlaps and Fibers

Imports:
Burlaps
Fibers (unmanufactured)

thous. of lbs..
long tons..

71,417
23,768

49,797 i + 1 0 . 1 : - 1 .
29,892
+64.6 ! +31.4

Pyroxylin Coated Textiles
Pyroxylin spread
Shipments billed
Unfilled orders, end
of month

thous. of lbs..
thous. of linear yards .

3,581
2,749 !

3,600
2,901

3,042 |
2,649 I

3,092 |
2,382 I

3,502
2,785

thous. of linear yards..

2,387

2,421

2,426 !

2,678 |

2,979

3,206 ! + 1 6 . 2 j + 2 6 . 9 |

2,168 !| +9.6 i +40.7 j

Cotton Mill Dividends
Fall River mills (quarterly):
Total
thous. of dollars..:
Ratio to capitalizaI
tion
per cent per quarter..!
New Bedford mills (quarterly):
i
Total
thous. of dollars.-|
Ratio to capitaliza!
tion
_
per cent per quarter.. 1
> Quarter ending in month indicated.




*262
>. 643

'406

*.997

* 588

1607

2.809

3.826

3 Quarter ending December 31, 1926.

* Revised.

24
TREND OF BUSINESS MOVEMENTS—Continued
1

1927
The cumulatives
shown are through December except where otherwise
noted.
Earlier data for items shown here may
be found on pages 24 to 138 of the February, 1928, " Survey "

TEXTILES-Continued
Fur

1928

August i September

October

November

1927

| crease
i cumu! lative

January

Decemb e r " ! >**>»*

Per ct.

CUMULATIVE TOTAL
FROM JANUARY 1
THROUGH DECEMBER 31
| or de-

PER CENT INCREASE ( + ) OR
DECREASE (—)

Jan.,
1928,
from
Dec,
1927

Jan.,
1928,
from
Jan.,
1927

1926

192/

163,492

170,723 i

| 1927
i from
I 1926

|
j

thous. of dollars..|

13,694

13,644

8,843

8,115

8,713

7,081

13,400

-18.7

-47.2

Fresh-water pearl buttons:
j
Production
ratio to capacity..!
Stocks, end of month
thous. of gross..;

43.6
9,555

50.9
9,409

53.9
9, 604

52.3
9,646

45.1
9,662

48.8
10,902

44.4
10,300

+8.2
+12.8

+9.9
+5.8

16

-71.9

-43.7

Sales by dealers

+4.4

Buttons

IRON AND STEEL

j

Iron

j
i

23
Manganese ore, imports
thous. of long tons..j
Iron ore:
j
304
Imports
thous. of long tons.-i
Shipments from mines.thous. of long tons..!
8,776
Receipts—
j
Lake Erie ports and
j
6,451
furnaces
thous. of long tons..!
2,274
Other ports.._
-thous. of long tons._i
4,368
Consumption.__
..thous. of long tons..;
Stocks, end of month—
!
Total
thous. of long tons._ I 35,803
At furnaces
thous. of long tons._| 29, 728
6,075 j
On Lake Erie docks.thous.of long tons..\
Pig-iron production:
|
2,947 !
Total, United States...thous. of long tons..;
733 !
Merchant furnaces
thous. of long tons, J
63 ;
Canada
thous. of long tons..|
Furnaces in blast, end of month:
I
187 i
Furnaces
number..;
Capacity
long tons per day_ _ | 93,800 |
51.7 i
Per cent of total
per cent..;
Ohio gray-iron foundries:
MeltingsActual
long tons._; 17,559 i
Normal
long tons__j 20,217 •
86.8
E,atio to normal
per cent of normal. _j
Stocks, end of month, .per cent of normal._|
82 !
Receipts
per cent of normal..:
71 |
Malleable castings:
Production
short tons.. 1 47,166 !
47.4
Operating activity
per ct. of capacity..;
Shipments
.short tons._ i 46,306
New orders
short tons..' 39,897
Wholesale prices:
\
Foundry, No. 2,
j
19.36 j
northern
dolls, per long ton..!
17.30 i
Basic (valley furnace)..dolls, per long ton..!
19.00 !
Composite pig iron
dolls, per long ton..;

36

15

225
7,231

228
6,723

200 !
2,000 !

5,493
1,832
4,089

4,929 '
1,828
4,024 ;

1,831
911 i
3,814 |

39, 296
32, 527

42,164 i
34,952
7,212 :

41,472 I

2,775
685
52

27 I

2,784 !
707
38 I

32
132

251

3,992

{

4,303

2,648
710
'38

4,524 | +7.8

33,350 ! 33, 971
27,062 ; 27, 279
6,692

37,582 II
34,528 ' 30,978
6,944 ' 6,604 j
2,696 '
708
63

2,870 !
715
65 ;

347

-4.S

-11.3
-12.6
-4.8

179
90,800
49.4

172
88, 300
47.6

170
87, 700
47 A

169
86,835 I
47.3 |

185 !
208
96,640 I 100, 635
52.9 i
57.0

+9.5
+11.3 i
+11.8 I

-11.1
-4.0

13, 298
16, 284
81.6
117
82

14, 207
18,389 :
77.2 i
88 I

15, 647
19,553
80.0
104
74

10,994
15,342
71.6
105
58

13,977
16,097
86.8
129

! 13, 613
| 18, 943
!
71.3
!
91
62

+27.1 |
+ 4.9 |
+21.2
+22.9 !
+51. 7 |

+ 2.7

41,155
41.9
42, 500
35,492

43,074
45.0
38,433
37,477

!
!
;
!
I
i
i
j
1
;

50,096
41.9
44, 458
49, 251

47, 454
47.7
44, 717
46, 872

19.01
17.00 i
18.37 i

19.01
17.00
18.37

19.26
17.06
18.89

60 •

;

38,210
44,781
40.4 ;
47.3
35,735
40,269
32,925
45,920

19.26
17.00 ;
18.79

19.21
17.00
18.42

19,865
25,734: ,
25,917
104,301

14,437
19,972
17,740
99,284

[

+11.9
-11.4

2,622 + 2 . 6
51,110 -12.7
36,552 ; -13.6
14,044 : -10.3
52,933 • -9.3
;

39,070 I
8,999 |
759 !

3G, 232
-7. 3
8,885 • -1.3
709 -6.6

|
-6.0 !

+6.5 |
+ 1 . 0 ! -5.9
+3. 2 +25. 0 j

3,104
760
52

309 i -11.0

2.555
58, 561
42, 259
15, 658
58, 360

I
+90.2 ! + 7 . 7 I

233

!
!

211,922 I 184,766 -12.8
258,911 I 223,441 -13.7

-15.0

+21.7
+41.8
+41.9

! +5.6
I -12.2

671,341 |

-.6

+7. 3 I +5.1

589,608

640, 857
570,521

564,836 -11.9
528,018 -7.4

233, 324
244, 941
251, 006

+10.4 I

-12.2

245, 340
226,795
226,131

+5.1
-7.4
-9.9

247,149 i 278, 267
258,734 1 257, 461
272, 742 I 251,679

+ 12.6
-.5
-7.7

-6.2
-5.6
-8.9

20.26
18.00
20.16 !

Cast-iron Boilers and Radiators
Round boilers:
22, 733
22,311 |
Production
thous. oflbs..
Shipments
thous. of lbs.. 22,588 ! 22,311
New orders
__
...thous. of lbs.. 20,781 j 20, 340
Stocks, end of month
_..thous. of lbs.. 113, 776 ! 113,561
Square boilers:
29, 682
26,966 I
Production
...thous. oflbs..
Shipments.
_
thous. of lbs.. 29, 268 i 30, 687
25,112
26,518 j
New orders
thous. of lbs. _
Stocks, end of month
thous. of lbs... 111,962 I 111,499
Radiators:
17, 453
16,828 !
Production...thous. sq. ft. heating surface.,
Shipments...thous. sq. ft. heating surface. _j 17,904 I 17, 304
15, 768
New orders..thous. sq. ft. heating surface..
18,606 !
Stocks, end of
month
thous. sq. ft. heating surface..
58,610 ! 58,887

24,758
31,156
30,400
110,648

22,575:
29,156
24,812
101,990 :

10,023
13,185
11,346
95,453

i!
ji
II
Ij




:

18, 265 !
21, 637 !
16, 781 1
97, 619 i

14,088
11,251
18,156
17,540
19,683 I 16,154

11, 539 !
13,193
11, 772

55,030 ;

-'
.:

3,232 :
4 68 i
54 '

3,102
<65
*81

3,150 I
«66 I

3,960
83
84

3, 973 I
9,753 I

4,276

3,148
13,276

3,341
11,870

3,455
9, 625

87,004
60
32,397
54,607

|
!
I
j

70,024 ;
49
25,618 i
44,406 :

62,409
43
21,947
40,462

58, 997
41
19,146
39, 851

63,528
44
21,144
42,384

!
!
!
|

52,351
36
18, 396
33,955 :

51, 748
36 !
16,625
35,123 I

62, 683
43
27, 639
35, 044

58,220
40
19,358
38,862

14,226 i .
9,534 !
9,240 | - ..

'

3,289
*69
56

3,196 !
14,289 !

j

174.223
177,430 j +1.S
172. 188 1 162,041
-5.9
195.901 I 164,608 ! -16.0
j
1

i
3,7

+25.7
+5.3
+25.8 I +5.1
59 I -12.5 : +42.4

3,800
13,513

+7.6 ! +12.5

46,936
778 |

43,041 |

-8.3

907 1 ~+lG.6

199,059

164,247 ! - 1 7 . 5

73,886 i 87,086 i +26.9 ! -15.2 | 1,135,955
60 +27.5 ! -15.0
51 I
427,016
+48.3 I - 1 5 .
34,037
28,714
45,172 !I 53,049
+16.2 ! - 1 4 . 8
708,939

964,003 j - 1 5 . 1

+18.1
+17.0
+5.5
+31.0
* See page 20 of this issue for previous data.
76,953
53
39,112
37,841

. |
i
!

34 404 'l

i
3,471 !
* 70 i

17,164
12,692
10,604 '
82,765

20,658 i
13,105 i
; 10,896 [
:
;
81,849 |
i

53,793

49,302 ;

Crude Steel
Steel ingots, production:
United States, total
thous. of long tons..
Ratio to capacity
per cent..
Canada
thous. of long tons.
U. S. Steel Corporation:
Unfilled orders,
end of month
.thous. of long tons.
Earnings
thous. of dolls..
Steel castings:*
ProductionTotal
short tons.
Ratio to capacity
per cent.
Railroad specialties
short tons.
Miscellaneous.-.
short tons.
New orders—
Total
short tons.
Ratio to capacity
per centRailroad specialties.._
short tons.
Miscellaneous
short tons.
* Revised.

'
<

90,863
62 '
41,276 i
49,587 i

107, 779
75
53,461
54, 318

!
i
i
!

-15.7
-17.3
-22.8
-8.7

1,035,778 |
404, 945
630, 833

370,654 I - 1 3 . 2
593,949 | - 1 6 . 2
918, C

-11.3

384,103 ! -5.1
534,595 ! -15.3
.

25
TREND OF BUSINESS MOVEMENTS—Continued
1928

1927

The cumulatives shown are through December except where otherwise noted.
Earlier data for items shown here may
be found on pages 24 to 138 of the February, 1928, " Survey **

September

August

October

PER CENT INCREASE ( + ) OR
DECREASE (—)

1927

Jan., Jan.,
1928, 1928,
from i from

Decem- ! January I January
ber

November

Dec, I Jan.,

[[Per ct
in-

CUMULATIVE TOTAL
FROM JANUARY 1
THROUGH DECEMBER 31

1926

3, 287, 276

3, 394,017
3,196,327

3,152,173
3,354,694

6, 588, 535

cumulative

1927

3,447,452

or de-

6, 630,569

1927
I from
1926

1927 | 1927
IRON AND STEEL—Continued
Crude Steel—Continued
Sheets, black, blue, galvanized, and
full finished:
Production245, 765
220,919
Total
net tons.. 266,645
62.6
80.3
Ratio to capacity
_
per cent..
71.7
Stocks, end of month—
145,980
Total
...net tons.. ! 169,315 155,865
53, 311
50, 518
Unsold
net tons.. ! 54,553
232,626
Shipments
net tons_. I 266,713 230,443
234,358
i 177,647 258,427
New orders
net tons..
308, 264
Unfilled orders, end of month
net tons.. | 312,662 350,117
Steel barrels:
578,408
Production
.barrels.. I 615,152 521,899
47.4
56.2
51.6
Ratio to capacity
per cent.. !
525,374
572,893
Shipments
barrels.. j 610,454
53,938
59,453
Stocks, end of month
barrels.. .1 57,413
Unfilled orders, end of month
barrels.. 11,106,604 1,124,437 1,000, 559
Track work, production
short tons.. ! U3,387 * 10, 999
* 9,914
Iron, steel, and heavy hardware:
203
200
Sales
.rel. to Jan., 1921., j
216
203
Lock washers, shipments
thous. of dolls..
199
228
Wholesale prices:
I
;
33.00
Steel billets, Bessemer..dolls, per long ton.. |
33.00
33.00
36.22
Iron and steel
.dolls, per long ton.. i
35. 75
36.24
1.83
Structural steel beams..-dolls, per 100 lbs..i
1.80
1.80
2.51 i
Composite finished steel.dolls, per 100 lbs..i
2.48
2.53
Steel sheets, Youngstown
district
dolls, per 100 lbs_.I
3.00
3.10
Fabricated Steel P r o d u c t s



316, 541
89.6

256,856
83.5

+21.7
+18.1

+23.2
+7.3

145, 644
52,966
224, 789
344, 519
437, 306

150,104
170, 453
52,474
59,508
274,126
221,689
530,197 ! 302,921
745, 393
694,197

161, 661
44,974
239, 019
261,357
526, 550

+13.6
+13.4
+23.7
-42.9
-6.9

+5.4
+32.3
+14.7
+15.9
+31.8

444, 227 475,906
500,909
529,137
43.7
45.6
40.6
48.1
474,159
497,345
454,638
525,518
54, 353
63,017
51,409
52, 606
845, 789 1, 308, 365 1, 351,797 1, 788,194
i
9,332 < 12,969
9, 706
* 9,139
186
174

!
!
|

+7.1 -10.1
+7.6 -9.1
+4.3 -9.8
+3.3 +5.7
+3.3 -24.4
+2.1 -28.0

33.00
35.10
1.80
2.46

"""l97,~665

I
33.00
35.27
1.80
2.47

!
!
!
I

35.00 !
37.76 |
2.00 I
2.62 |

0
+.5
0
+.4

"
i
I
I
I

+.6

160,~63l"

-18.5

2,782

+19. 7 I +5. 3

219 !

-7.1

+5.0

6,586,845 j 6,624,753

169 i

166
183

33.00
35.39
1.75
2.47

|

-4.6

—5. 7
-6.6
-10.0
-5.7

3.00

262, 500
70
270,000
72

288,750
77
251, 250
67

236,251
63
247,500

258, 750
69
240,000
64
35,648
44
13,367

32,810
41
8,758

-17.4
-17.4
-12.5
-12.5

+9.6
+9.6
+7.7
+7.7

2,890,800

3,060,000

+5.9

3,218, 400

2,857,500

-11.2

35,854
45
14,342

-8.0
-6.8
-34.5

-8.5
-8.9
-38.9

513,913

497, 697

-3.2

175,367

210,974

+20.3

-2.8
-6.0

| +.4
I -27.7

213, 750 195,000
57
52
210,000
195,000
56 |
52

I

38, 662
48
15,421

47,090 I
58
18,648 !

27,341
34

1,312
1,152

1,270
930

1,235
1,125

1,054
906

1,025
852

1,021
1,179

2,219
2,368
1,558

2,380
2,411
1,574

2,856
2,476
1,577

2,741
2,850
1,414

2,713
3,248
2,000

2,731 il - 1 . 0
2,887 ii +14.0
1,728 !l +41.4

-.7
+12.5
+15.7

31,429
31,393

31,106
30, 760

-1.0
-2.0

531
608
738

619
551
666

591
575
651

578
619

680
769
680

556 i +17.6
576 1 +24.2
1
623 |j +12.2

+22.3
+33.5
+9.1

7,337
7,340

7,264
7,351

-1.0

166, 352
46, 573

170, 255
39, 516

177,928
51,185

168,428
55,070

205, 766
49,903

15,946
15,733

1

+.1

215,235 1 +22.2 I - 4 . 4
1
42,219 ji - 9 . 4 ; +18.2

2,167,048 s 2,180,970 |i + . 6
933,641 I 552,907 | - 4 0 . 8

320,110 |j +45.7 J

i

Vacuum cleaners, shipments
|
(quarterly)
_
number..!
Washing-machines, shipments:
!
Total
number..
Electric
___number..;
Water softeners, shipments
units..I
Water systems, shipments
...units..!
Pumps:
Domestic shipmentsPitcher, hand, etc
.units..
Power, horizontal type..
..units-.I
Steam, power, and centrifugalNew orders-.
thous. of dolls..
Shipments
thous. of dolls..
Unfilled orders, end mo.thous. of dolls..
Agricultural machinery and equipment:
Shipments—
Total
rel. to 1923-25..
Domestic
rel. to 1923-25..
Foreign
.._
rel. to 1923-25..
Production
rel. to 1923-25..
Foundry equipment:
New orders
rel. to 1922-24.
Shipments
rel. to 1922-24..
Unfilled orders, end of
month
rel. to 1992-24..
Stokers, mechanical:
Sales (new orders)
number..
Sales (new orders)
horsepower..
Machine tools:
New orders
rel. to 1922-24..
Shipments
rel. to 1922-24..
Unfilled orders, end of mo.-rel, to 1922-24..
2 Quarter ending in month indicated.

 89514—28

260,130
75.9

j

Structural steel, fabricated:
;
New orders (prorated)
.short tons.. | 273,750
Ratio to capacity
per cent..!
73
Shipments (prorated)
short tons. J 247,500
Ratio to capacity
per cent. J
66
Steel plate, fabricated, new orders:
Total.
short tons—! 48,577
Ratio to capacity
_
per cent..;
60
Oil-storage tanks
short tons..! 29,691
Steel boilers, new orders:
i
Total
.number..!
1, 517
Area
thous. of sq. ft..:
1,569
Steel furniture:
j
Business group—
;
Shipments...
thous. of dolls..:
2,475
New orders
thous. of dolls. _i
2,382
Unfilled orders, end mo.thous of dolls..!
l, 412
Shelving—
j
Shipments
thous. of dolls..!
604
New orders
thous. of dolls..!
592
Unfilled orders, end mo.thous. of dolls |
669
Iron and steel:
j
Exports
..long tons_.j 175, 637
Imports
.long tons..; 51, 596
Machinery

232, 041
65.9

3

2

-3.2

1,065,430

67,214
55,319 I'
!
1,273 II +14.6 I
-.4
4,886 ! +12.5 j +37.6

1,029,053
843,685
17,355
78,793

45, 283

+26.2
+6.3
+15.5 +160.2

546, 644
6,288

1,137
1,138
3,112

1,634
1,112
« 3,500

-12.5 -30.4
-9.3
+2.3
- . 4 I -11.1

18,625

<90.7
«82.4
< 133.8
«136.0

123.2
126.1
114.3
148.8

103.7
105.6
93.5
136.9

I +35.8 ! +18.8
II +53.0 I +19.4
j| -14.6 +22.2
! +9.4
+8.7

95.8
97.2

106.8
110.4

129.7
116.4

2 212,829

309, 998

75,155
63,606
1,595
8,601

84, 795
70, 227
1,674
8,211

86y 922
71,570
1,743 I

79,422
64, 082
1,414
7,079

69, 945
56, 999
1,106

39,969
994

43, 007
1,492 i

36,130
1,461

38,148
1,370

48,137
1,582

1,489
1,474
3,040

1,178
1,221
2,950

40,443
1,758
1,300
1,303
2,950

1,403
1,294
3,092

1,300
1,255
3,125

177.6
166.8
234. 0
126.5

157.2 I
134.4 j
277.0
116.2

122.6
112.0
178.0
121.1

87.3
80.0
125. 6
123.5

106.4

80.4 !

98.0
113.4

8,365 I

1,268
6,725

1,038,614 l| - 2 . 5
944,506
775,661
18,118
83,820

-8.2
-8.1
+4.4
+6.4

499,499 1 8 . 6
13,058 1+107.7
ii

106.3

105.8

103.5

104
27,843

95
27,222

67
16,955

83
32,202

75
26, 572

170
118
278

106
128
266

133
152
231

134
149
214

17,179 ij - 9 .
16,799 jj —9.

120.6

160
60,977

5

!
i
I
|

Quarter ending December 31, 1926.

169
157 I
192 !

218
149
293

< Revised.

*See page 21 of this issue for previous data.

26
TREND OF BUSINESS MOVEMENTS—Continued
1927

The cumulatives shown are through December except where otherwise noted.
Earlier data for items shown here may
be found on pages 24 to 138 of the February, 1928, " Survey "

Jan.,
August I ^g11-

No

\ October

™™'

(-) i
cumulative
1927
from
1926

1928, |

Dec,

1926

from
Jan.,

1927

IRON AND STEEL—Continued

(+)

or de-)
crease

Jan.,

1928,
from

Decem-

Fernet.
increase

CUMULATIVE TOTAL
FROM JANUARY 1
THROUGH DECEMBER 31

| PER CENT IN! CREASE ( + ) OR
I DECREASE ( —)

1927

\

Machinery—Continued
Electric hoists:
i
New orders—
i
Quantity
number.J
278
300
Value
dollars.J 162,594 \ 147,323
Shipments
dollars.., 128,331 j 151,674
Electiic overhead cranes:
i
Shipments
. . . t h o u s . of dolls. J
729
653
New orders
thous. of dolls..j
483 :
684
Unfilled orders, end mo
thous. of dolls. J
2,278
2,273
Electric industrial trucks and tractors:
Shipments, domestic—•
j
Tractors
.number of vehicles..!
3
8
All other types
number of vehicles. J
87
66
Exports
_
number of vehicles..:
2
5
Fire-extinguishing equipment, shipments:
j
i
Motor vehicles..
number..!
143
122
Hand types
n u m b e r . J 48,101 ; 46,255
Patents issued:
;
Total, all classes.
number..!
3,815
2,792
Agricultural implements
number.. 1
46
37
Internal-combustion engines
number. _;
67
34
NONFERROUS METALS

j

j

270
114,835
121, 445

+27.2
+31.1
+31.0

+ 3 2 . 1 I;
3,605 !
3.293 ; - 8 . 7
+20.0 | 1,920.194 ; 1.619,782 i| - 1 5 . 6
- 4 . 1 j 1,981,063 i 1,540,300 ! - 2 2 . 2
'

764
566
2,117

637
525
• 1,975

-43.3
-38.9
-3.2

-59.7
-56.3

11
81
17

15
64
19

-37.5
+27.3
-18.2

+46.3 !
-47.1 |

108
48, 472

111
43, 723

3,185
57
73

4,232
61
60

-37.7
-9.8
+10.5
+7.1
+54. 5

|

Copper

j
j
Production:
i
Mines
short tons..! 67.248
65,936
Smelter
short tons. J 78,245
74,418 1
Refined (North and South
:
i
|
America)
short tons..! 119,786 i 119,100 I
World production, blister
short tons..; 135,015' 133,291 !
Domestic shipments, refined
short tons. J 71,736 ' 71,578 j
Exports
_
short tons.i 46,571
46,137 j
Stocks (North and South America), end mo.: I
:
j
Refined..
short tons..; 93,654 \ 86,493 |
Blister
short tons.. 253,886; 246, 517 j
Wholesale price, electrolytic
dolls, per lb..!
. 1297 \
. 1294 j
Copper Product*

223
102, 238
139, 066

I

i
68,959 i 68, 080 * 67, 222
83, 551 i 79,878
85,868
i
124,927 ; 118,269
128,923
122,723 !
145,278! 141, 975 148,961 ! 140,546 I
68.619! 59, 264
60,862 i
41,317 i 41,129
51,322 |
j
83,882 i 90, 874
95,298;
96,476 i
246,354 I 250,014 • 248,420 !< 237, 881 I
.1332
. 1296 |
.1385 i
.1377 I

I

6,895 :

6,110

15,083
14,487
2,201 ; 1,973 !
8,560
4,938
.6074
. 6352

-16. 7 !

190 !
1,127
98 ;

-23. 7 i

1,526
614,524 s

+15.7
+7.1

44,751 •
631
613

-20. 3

9,308 ;; - 2 0 . 6
7,976 !j - 3 1 . 8

135 . -28.9
1
091 ;i -11.8
130 ;| +32.7
1. 434 '1
588, 582 :!

-6.0
-4.2

i
41, 731 1 - 6 . 7
-2.4
616
777 . + 2 6 . 8
1

!

+2. 2

-9. 8
-13.7

-9.8
133.110 i
143,337 "

93,982
276,316
.1299

872,509
984,166

- 7 . 8 I 1,440,454

-4.8
-5.6
TO o
+1 5
+1 2
-4 1
6

-1.9 I
—10. 6

+18.7

+2.7

1.600,491
' 902.174
470,769

829,97S
968,657

-4.9
-1.6

1,476.506
1.658,346
824,844 '
523, 572 :

+2.5
+3.6
-8.6
+ 11.2

j

-13.9

+6.6

+

|

Plumbing
fixtures:
'
;
|
i
:
New orders, tubular—
'
i
Quantity
number.. 229,923 230,978 | 200,298 j 238,034 j 211,779
Value
....dollars.. 207,013 209, 702 j 178, 280 \ 162, 871 ! 187, 767
Wholesale price, 6 pieces
dollars..; 104.39 \ 104.51 I 104.71 ! 104.33 j 99.44
Wire cloth:
i
464 j
Production
thous. of sq. ft. _
422 1
409
492
432
470 i
Shipments.
thous. of sq. ft._
* 426
417
446 !
404 !
Stocks, end of mo
.thous. of sq. ft..;
1,320
1,242
1,187 i 1,161 ! 1,213 !
442 !
i
New orders
thous. of sq. ft..!
413 ,
440
476
381:
292
332 :
Unfilled orders, end of mo-thous. of sq. ft.. !
256
265
316 j
Make and hold orders, end
412 ;
ofmo
thous. of sq. ft..;
398:
396
413
Tin
•
Deliveries (consumption)
long tons..
Stocks, end of month:
World visible supply
long tons..
United States
long tons i
Imports
long tons..i
Wholesale price, pig (New York).dolls, per l b . .

11, 722
11,688

6,005 |
14.684 j
3,158 |
7,179 !
.5758

5,665

4,535

98.59
449
425
1,189
414
315
441

5,415

14,594! 15,733 I 15,244 !
2,003 ! 1,573
2,768 I
4,876
5,727 i
3,958
.5709
.5805 ! .5518 i

371.125 I1
248,094 |i
105. 91 I1

1.
ii 2,411,077 , 2,751.618 ! + 1 4 . 1
I
j| 2,449,301 2,379,284 ! - 2 . 9
- . 9 1 - 6 . 9 ||._
-:

Ii
501 II
424 !
1,149 !
286 I
341 !

i
-8.7
+5.2

I
- 1 0 . 4 (i
+.2 i
+ 3 . 5 i|_

-2.0

+8.7

5.4(13 :i - 7 . 2
5.042 ! - 1 0 . 2

+10.1

-.3

+6.8 +29.3 I

Ij -3.1
II +76.0
(I +44.7
ij - 4 . 9

-.6
-16.2
-28. 1
-14.8

78,050

72. -190

77,090

6,295 || +19.4 j - 1 4 . 0 |
15,342
3,304
7,966
.6479

5,887
5,616

71,205 i

-7.6

Zinc
Retorts in operation, end of month.. .number..
Production
„
_
.short tons..
Stocks, end of month
short tons..:
Ore, Joplin, district:
Shipments
short tons..
Stocks, mines, end of month...short tons..
Price, slab, prime western
dolls, per l b . .

76,851
49,012
34,587 :
i
61,749 !
24,934 s
I
. 0634

74,4? | 76,067 ! 76,627 : 77,084
47,7?5 | 50,185 | 49,217 ! 52,347
34,277 ! 36,223 j 39,320 : 40,751
55, 308 | 76, 430 ! 49,830 ; « 54, 586
28,806 I 29,776
39,296 \ 43,147
.0621
.0600
.0575
.0572

72,204
52,414
42,163

88,908 i
56,898 I
29,912

+.1
+3.5

+41. 0 1

.0564

< 69,835
25,515 !
.0666 i

-1.4

-15. 3 !

-6.3

-18. 8 i
9 !

E n a m e l e d Ware

Baths:
Shipments
„
Stocks, end of month
New orders
Unfilled orders, end of month
* Revised.




\
.pieces.. 110,220; 93,172
pieces..! 120,903 123,880
pieces..: 106,502
96,352
pieces.., 38,829 I 41,407

85,163
137,830
82,762
33,154

72,424
146,113
69,356
28,993

\ 55,974
! 157,868
I 66,504
I 33,160

70, 633
156,020
36,473

83,117
182,363
86,802
47,343

:
|«
|l
j!

+26.2
-1.2
+18.0
+10.0

613 548

-3.f

840,867 1

689 036

-18.1

i

708,147 ,

687, 273

+17.1 ||
—. 7 ;!

Lead
54,820 i
56,134!
57,703;
56,812'
Production
short tons..
55,830
53,204
59 383 i; - 3 . 5
Ore shipments:
10 812 ii
7,864
8,207 !
13,079
Joplin district
short tons._ :
8,540!
6,439
Utah
short tons..! 63, 721
80,362
66,157
70,752 ! 83,003 ; 75,855
64 768 II - 8 . 6
56, 345 || - 1 . 9
53,017
57,035 !
57,027
Receipts in U. S. ore
short tons.J 56,479 j 50,995
55,970
134, 682 i!
Stocks, U. S. and Mexico, end m o . . .short tons.. 162,866 i 160,134 155, 868 155,568 i 156,280 ;
Price, pig, desilverized (New
i
•
i
York)
._
dolls, per l b . .
.0668 !
.0630 I
.0625
.0626 ;
.0650
.0650
.0758 i

638,533

130,378 !
786,381 i
678,036 ;

104, (m
822, 352
660 125

—

(

-14.2

j
j
|
I

-2.9
:

-20. 2

+4.6
-2.6

ii.

- 1 5 . 0 || 1,195,142 i 1,101,494
-14.4 !
!
- 9 . 6 ii 1,242,969 ;
-23.0 H
I

j

-7.8

27
TREND OF BUSINESS MOVEMENTS—Continued
i Per ct

1927

The cumulatives shown are through December except where otherwise noted.
Earlier data for items shown here may
he found on pages 24 to 138 of the February, 1928, " Survey "

1928

CUMULATIVE TOTAL : inFROM JANUARY 1 crease
THROUGH DECEM- ;• ( + )
BER)!

PER CENT INCREASE (+) OR
DECREASE (—)

1927

: or de; crease

August

Septeni- j

Qctober

Novem-

Jan., ! Jan.,
1928, | 1928,
from . from
1

Decem- :| J a n u a r y .

Dec, ! Jan.,
1927 j 1927

i (-)

1926

1927

I cumulative
! 1927
I from
1926

NONFERROUS METALS-Continued
Enameled Ware—Continued
Lavatories:
Shipments..
pieces..
Stocks, end of month
pieces..
New orders
pieces..
Sinks:
Shipments
pieces..
Stocks, end of month
pieces..
New orders
_
pieces. _
Miscellaneous sanitary ware:
Shipments
pieces..
Stocks, end of month
pieces..
New orders
pieces..
Small ware (all except baths):
Unfilled orders, end month
pieces..
Enameled sheet-metal ware:
Shipments
dozen pieces..
Porcelain flat ware:
New orders—
Total...
thous. of sq. ft..
Ratio to capacity
per cent—
ShipmentsTotal
thous. of sq. ft..I
Ratio to capacity
per cent.-!

122,783
212,589
123,204

115,625 !
98,731
187,453 ! 188,202
117,212 |
95,032

77, 862
193, 811
76,055

66,913
204,744
78,292

201,891 !
94,242 j

102,986
256,114
106,720

+29.9 I - 1 5 . 6 H 1,365,275 1,230,923 |; - 9 . 8
- 1 . 4 i - 2 1 . 2 ji
ii
+20.4 ! - 1 1 . 7 I 1,380,784 i 1,255,721 !j - 9 . 1

126,958
231,384
127,926

115,007 i 113,717
215,075
213,006
122,749 ! 106,438

83, 780
223,265
84,031

73,450 \\ 93,739
233,091 li 232,325
86,879 |i
97,336 \

99,178
296,158
104,926

+27.6 | - 5 . 5 l| 1,363,657 I 1,289,272 j; - 5 . 5

53,842
126,652
53,235

49,955 !
135,593 !
49,513 |

44,998
133,612
45,972

40,441
34,675
131,329 I 140,597
38,279 ! 38,814

40,465
130,881
44,262

+21. 2 i +3.9 |i 600,038
—5.1 + 1.9 I!
+4.0 -8.8 I: 628,362

118,755

117,185 j

97,538

329,843

310,823 | 4 322,081

•i

95,330

42,043
133,366
40,353

104,774 1
!

99,903 1

< 5,285
43
5,937
47

4

4

6,129 |

II

-4.6

+10.7 |
+2.3

«4.895 '!
' 4 4 !;

5,421 j
45 |

6,759
53

5,609 !
44 '

5, 473 !
46 !

5,942

4.506 !
1,186 I
3,320 j

5,115
1,255
3,860

5,308
43
6,394 j
50 I

54

4,792 |
678 |
4,117 |

117,617 i
;!
350, 748

',

,

: 1,387,997 j 1,316,037 |j
557,666

-5.2
-7.1

554,530 :• - 1 1 . 7

-15.1
!

|

4

9,578

53 I

'

287,115 | 307,280 ij

-21.6
+12^ 0 j - 7 . 2

4,466 I
1,296 '
3,170 '•

4,929 |
894 J
4,034 I

5,440
1,220
4, 220

3,916,930

-2.4 i

47

70,602

73,10

+3.5

75, 949

-19.8 i
-15.1 !

76,818 .j

+1.1

15,330 j
50,555 j

W, 112 .. - 8 . 8
13, 108 ;; - 1 4 . 8
47,004 '/ - 7 . 0

+4.5 j - 2 . 1

Other Metal Products
Babbitt metal, consumption:
Total apparentDirect by producers...
Sale to consumers
Pails and tubs, galvanized:
Production
Shipments.
Other galvanized ware:
Production
Shipments.
Band instruments, shipments:
Total.
Cup mouthpieces
Saxaphones
Wood wind

I
5,497
thous. of lbs..I
1,008
thous. of lbs__]
4,489
thous. of lbs 1
I
dozens..! 133,309
dozens., j 148,148
I
44,632
dozens..
dozens..
48,291

dollars..
dollars..
dollars..
dollars..

432,571
175,999
237,532
19,040

93,273 ij 125,536 !
90,254 !! 149,304 i

127,608 ; 151,495
112,690 !
127,530 | 141,101 S 110,275 |

37, 776 i
44,852

39,006 i
41,368

35, 602
28,578

22,090 I
17,013 |

527,640 |
195,494 |
306,715
25,431

594,020 |
234,399 |
325,587
34,034

603,944
216,128
352,960
34,856

589,967 I
223,946 !
•
340,266 !
25, 755 !

32,678 !
35,689 |
318,106
126,852
169,050
22,204

i
I
i
!

+ 10.4 i - 9 . 4 :
-31.0 | - 2 6 . 7 |
+27.3 j - 4 . 4
!

131,006
+34.6
141,817 ! +65.4;

- 4 . 2 I 1,429,909 ! 1,008,725 !• + 1 6 . 7
1,425,072 | 1,688,1(32 |j +18.4

+5.3
+5.3
31,019 +47.9
32,082 1+109.8 +11.2 ;

407,776
143,893
249,763
23,120

536,103 i
519,492 i

425,080 Ii - 2 0 . 7
421,161 j| - 1 8 . 9

•• - 2 2 . 0 • 6,532,522 | b. 789,023 ' - 1 1 . 4
- 4 3 . 4 ! - 1 1 . 8 ! 2,419,472 j 2,173,230 1 - 1 0 . 2
- 5 0 . 3 - 3 2 . 3 ! 3,832,295 3.326,247 'i! - 1 3 . 2
~ "~" " "
298,546 i\ +6.3
- 1 3 . 8 i ~4.o:
280,755
-46.1

Electrical Equipment
Electrical mfrs., new orders
2
| 2 235,558 j
239,247 jj
_ „ | 3 200,078 | + 1 . 6 ; - 8 . 0 ; 1,011,870 i 954,883 ;|
~5.t
(quarterly)....
thous. of dolls
I
Electrical porcelain, shipments:
74,230
77, 212
1,084,440 ! 924,437 |i - 1 4 . 8
62, 536
69,195
93,176 1 +16.3 - 1 7 . 1
62,697
66,391
Standard
.dollars..
236,052
115,394
119,744
178,583
122,081 i +3.6
-5.9
Special
..dollars., 114,467
1,818,030 1,713,685 ! - 5 . 7
111,408
-9.6
311,889
468,903
35,002
High tension.
dollars.. 386,174
446,991
451,894 | 408,401
! +5.1
2,945
2,361
1,897
Glazed nail knobs.
thous. of pieces.,
2,134
3,201
3,363
! +37.4
879
1,165
755
1,092
794
1,091
Unglazed nail knobs
thous. of pieces..
!
1,273
660
1,127 !
J -18.5
Tubes
thous. of pieces.
1,145
1,383
1,361
Laminated phenolic products,
677,861 | 494,566 j + 2 0 . 0 j + 3 7 . 1 i 7,936,298 7,823,380 | - 1 . 4
;
shipments
dollars.. 929,872 11,033,466 I 940,563 679,369 | 564, 775
Motors:
! 692,583 i
'
!|10,135,163 9,374,997 ! - 7 . 5
626,092
864,562
!
New orders.
_
dollars.. 706,219 820,652 > 740,366
l
Billings (shipments)
dollars.. 823,940
776,325 j 834,479
630,628
815,830
i 766,011 '
;
110,453,559 9,248,337 ; - 1 1 . 5
Power switching equipment (quarterly):
New orders53,218
53,557 ;i
+.6
! 2 12,039
]..
2 11,901
, |
Indoor
single pole units..
? 15,480 jj - 1 . 1 : -23.1
2 14,634
47,791
65, 008 j! +37.4
...j 2i6 ? i27
I 3 14,725 i
-9.3 i
Outdoor
single pole units..
_
27.050,375 .i
...'12,258,668 !
Outlet boxes and covers, shipments
pieces.. 2,645,760 2,228,162 2,577,732 2,728,841 1,947,433
;
140,346
| l,534.f?34 i
Industrial reflectors, sales.
units.. 120,353
125,802
137,417 ! 146,152 i -2.TJ~"-6.~6~!
141,392 j 140,415
Flexible cords:
32,419
36,274
40,389
37,584 I
New orders
_
thous. of ft_
55,603 |
Shipments
_
.thous. of ft.
30,005 | 46,632 • 52, 494
37,764 !
47, 566
46,332 i
Stocks, end of month
thous. of ft—
58,550 i 51,091 \
46,222 j
Welding sets, new orders:
1,620 '•;
+.6
119
1,610
Single operator
units.
137
133
153 |
123
128 !
129 I
+7.6 !
-36.4 : -56.2 !
133
182 ;; + 3 6 . 8
Multiple operator
units.
37 |
11
16
23
26
7 !
11 !
Panel boards and cabinets,
2 864,598
3, 247, 099
-5.0
J
..! 2 821,487 ;
shipments (qtly.)
.dollars.
113,846
!
10,488 I
9,713 j
9,235
Nonmetallic conduits, shipments..thous. of ft.
9,614 [
9,017 !
6,735 j
Delinquent accounts, electrical trade:
-6.6
+2.5
Amount.
_
__
dollars.
166,683 I 145,031
156,606 ! 148,358 i 197,462 ! 184,500 ! 180,048
1,397 J -1.4
Delinquent firms
.number.
1,365 I
1,381 |
-2.6
1,585 |
1,320
1,286 |
1,361 !
AUTOMOBILES
Production:
United StatesTotal
number of cars.. 308,807 4 260, 379
Passenger cars
number of cars... 274,378 4226,440
34, 429
33, 939
Trucks
number of cars..
]
Canada—
11, 262
12,526 !
Total
.number of cars..
8,681
10,139 !
Passenger cars...
number of cars..
2,581
Trucks
number of cars..
2,387 !
1
Quarter ending in month indicated.




4

219, 711 4 134,409
183, 041 * 109,756
* 36,670 4 24, 653
7,791
6,236
1,555

6,617
5,173
1,444
s

4
4

133, 547 |
106, 079 i
27, 468 j

4

3,435
2,277
1,158

225,039 !
199,032 j
26,007 |

238, 926
199, 650
39,276

8,463 I
6,705 !
1, 758 j

15, 376
11, 745
3,631

Quarter ending December 31, 1926.

+68.5 i
+87.6 '
-5.3 ,
+146.4
+194. 5
+51.8

-5.8
4,298,799
- . 3 ; 3,808,753
-33.8 ;
490,046
-45.0 :
-42.9
-51.6 4

205,092
164,483
40,609

Revised.

3,394,255 ; - 2 1 . 0
2,939.177 j - 2 2 . 8
455,078 ; - 7 . 1
!
179,420 ' - 1 2 . 5
146,870 ; - 1 0 . 7
32,556 • - 1 9 . 8

28
TREND OF BUSINESS MOVEMENTS—Continued
1927

The cumulatives shown are through December except where otherwise noted.
Earlier data for items shown here may
be found on pages 24 to 138 of the February, 1928, " Survey '*

PER CENT INCREASE ( + ) OR
DECREASE (—)

1927

1928

Jan.,
August

September

October

Jan.,

1928,

November

January

1928,

from
Dec,

January

CUMULATIVE TOTAL
FROM JANUARY 1
THROUGH DECEMBER 31

from
Jan.,

! 1927

1926

1927

1927

| Per ct.
increase

(+)

or de!crease
: (-)

i cumulative
1927
from
1926

AUTOMOBILES—Continued
Exports (assembled):
From United S t a t e s Total
number of cars..
Passenger cars
....number of cars..
Trucks
number of cars..!
From Canada—
Total
number of cars,.!
Passenger cars
number of cars..!
Trucks
....number of cars..)
Foreign assemblies..
number of cars..!
Sales, passenger cars and motor
j
cycles
_thous. of dolls..!
Shipments (General Motors Co.):
To dealers
number of cars..
To users.
.number of cars..I
Accessories and parts:
|
Shipments—
I
Original equipment._rel. to Jan., 1925..:
Eeplacement parts.__rel. to Jan., 1925..\
Accessories.
_rel. to Jan., 1925 j
Service parts.
rel. to Jan., 1925..
Exports
thous. of dolls. _
Rim production
thous. of rims..
New passenger-car registrations:
,
Total
.number of cars__!
Highest price group
number of cars..!
Second highest group
number of cars..!
Third highest group
number of cars..!
Lowest price group
number of cars.-j
Miscellaneous
number of cars..j
FUELS

+7.5

32,060 i
20,476
11,584

29,835 !| +35.8
22,122 ! +24.3
7,713 1 +62.3
1

-7.4
+50.2

305,791
238,390
67,401

393,938 i +28.8
286,619 I +20.2
107,319 || +59.2

3,
1,
1,
10,

7,466 +59.7
-1.0
5,296
2,170 +395.2
14, 943 -12.9

-53.1
-65.3
-23.3
-27.1

74,324
53,628
20, 696
174, 356

57,414
39,900
17,514
203, 561

32, 059
23,294
8,765

26, 273
19,033
7,240

27,718 I
19,366 I
8,352 I

31,405
21, 396
10, 009

23, 609
16,473
7,136

4,634
3,020
1,614
15,047

3,872
2,856
1,016
12, 844

3,507 i
2,380
1,127
12,988

3,876
2,403
1,473
12, 481

2,193
1,857
336
* 12, 518

148,071 |

63,381

85, 667

60,071
125,181
53,760 • 107,278

99, 367
81, 010

185, 626

178,889 I 154,772
155,604
158,619

57, 621
80, 539

140,607 ! 128,459
132,596 | 153,833

502
838
664
900

-22.8
-25.6
-15 4

+16.8

2, 508,881 1,990,444 |; - 2 0 . 7

+108. 4 +26.0
+99.5 +32.4

1,234,850 i 1,562,748 f +26.6
1,215,826 I 1,554,577 j +27.9

1

124 j
174 !
103 i
120 i
6,600 !
1,385 !

99
132
75
143
7,501
839

111
126
61
104
7,505
1,134

242,031 ; 184,619 | 183,979 !
11,514
10,655 I 12,152 j
47,292 i
73,223 I 54,256
71,704
53,300 I
57, 538
85,071 ' 01, 779
70,841 !
519 !
394 !
391

132, 487
9,315
33,834
37,951
51, 093
294

89.189
7,253
26,280
26,805
28, 515
336

40, 628
1,121

* 41, 277 i
832 |

155
169
115
134
9,741
1,826

139
181
163
127
7, 962
1,727

|
I
1
i
|

I
!
!
i
|
:

1

163
137
79
142
7,489
1,812

132
107
79
140
7 411
< 1 , 489
1

+23. 5 !
+28.0
o :
+1.4 i
+1.1 ;
+21.7 I

+46.8
+8.7
+29.5
+36.5
-.2

+59.8

coo
C, 291
33,509
34,249
99, 662
927
1A

83,889 ;
24,199 ;

103,700 ! + 2 3 . 6
20,005 j - 1 7 . 3
2,600,407
129, 609
623, 536
655,129
1,185,365
6,768

3,155, 796
128,119
636, 374
626, 789
1, 744, 362
20,122

-17.6

+1.2
-2.0
+4.5
-32.0
-66.4

|

Coal and Coke

j
Bituminous:
!
Production
thous. of short tons..!
Exports
thous. of long tons..I
Consumption—
!
By vessels
thous. of long tons..!
By electric power
I
plants..
..thous. of short tons..|
By railroads
.thous. of short tons__|
By coke plants—
j
United States.thous. of short tons..|
Canada
thous. of short tons._j
Stocks, end of month,
\
held by consumers..thous. of short tons._|
Prices—
j
Mine average
!
(spot)
dolls, per short ton..!
Wholesale,
j
composite
dolls, per short t o n . j
Retail, composite..dolls, per short ton..!
Anthracite:
j
Production
thous. of short tons.J
Exports
thous. of long tons..
Stocks, end of mo. in
j
yds. of dealers
no. of days' supply..!
Prices—
I
Wholesale,
composite
.dolls, per long ton__
Retail, composite, .dolls, per short ton..
Coke:
|
Production, U. S.—
j
Beehive
thous. of short t o n s . j
By-product..
thous. of short tons..
Production, Canada.-thous. of short tons..
Exports
_
thous. of long tons..
Price, furnace,
Connellsville
..dolls, per short ton..

41,705 ! 41,928 i
1,278 '
1,313

44,000 ;
1,252 j

351 |

271

363

369 !

44,200 S
850 !
319 I

56,882 j
1, 720

+7.1 ! -22. 3 I
+2.2 I -50.6 !

376 I, +17.7 | - 1 5 . 2 |

573,367 !
31,516 I
6,907

;

519,804 j - 9 . 3
16,095
-48.9
4,076 ! - 4 1 . 0

351 :
3,513 |
7,558 !
6,034 !
247 !

3,561 i
7,661
4

5, 898
219

61,900

4

3,663 !
8,418 j
* 6,006 i
223 !

- 3, 556
7, 847

3, 696 i
8,198 i

5,626
229

5,834 i
261

61,300 ;

3,804 I

2.07 i

2.08

1.95
4.199
9.33

7,749 i
280 ;

6,642
290

7,404 :
310 I

6,902
277

3.08 j

3.00

4. 450
9.97

-1.2
-1.1

6,561 !
220 |i

-5.8
+3.1

+1.0
-5.7

82,236 ;
2,904

74,127 ;
2,884

-9.9
-.7

84,437 !
3,599 |

80,658
2,982

-4.5
-17. 1

12, 489 ;
44, 377 I
1, 909 !
880 i

7, 004
43, 903
1, 981
719

| -43.9
| -1. 1
1 +3.8
! -18.3

-8.0 |.
- 7 . 6 !:.

4.093 I
9.21 |

6,032 !
226 j

5,683 I
233 !

2.30

4

-13.4

+5.9

49 i

60 i

487 i
457
3,665 ! * 3, 603
169
150
55 ;
76

-5.9 i

6, 557 I
251

4. 144
9.31

4.160
9.32

13.389 !
15.07 !

+5.7

6,168

1.90

4.274
9.20

13. 353
15.03

'

41,711 I
95,415 |

55, 500

4.275
8.99 i

13.209 ;
14.80

41,311
101,134 ;

i

9,186

!

13. 389
15.07

419 i
* 3, 720 ,
152 I

379
3,500
157 \
75 '

2.91

2.83

13.389 ;
15.08 1

13.130
15.08

13. 779
15. 42

377
3,646
177
63

373
3,880

787
* 3, 700
177
59

i
|
I
i

2.79 |

65

-1.9
i

-4.7
-2.2

- 1 . 1 j -52.6

+6.4 I +4.9
+3.2

+10.2
-28.4

2.78

i

i

Petroleum
Crude 'petroleum:
j
77,998 | 75,081
Production..
thous. of bbls..
Stocks at end of m o n t h Total (comparable)
thous. of bbls_. 333,673 ' 339,741
Tank farms and pipe
lines
thous. of bbls.. 295,643 i 301, 528
38,030 | 38,213
Refineries
thous. of bbls..
California23,262 i 22, 795
Light
thous. of bbls..
91,965 ! 92,186
Heavy
thous. of bbls._
6,261 ! 5,122
Imports
thous. of bbls..
Consumption (run to stills).thous. of bbls..! * 71, 001 * 68, 586
79
Refinery operation
per ct. of capacity..!
79
1.155
Price, Kansas-Oklahoma
dolls, per bbl.J
1.198
1,120
Oil wells completed
number..!
1,056
4
Revised.




77,081 ! 73,778
I
345,357 i 348,885

-1.1

+2.6 I

74 ,108

73,321

71,475

351,646

358, 892

278,972

312,411 !
39,235 |

317, 725
41,167

243,428
35, 544

+1.7 +30.5
+4.9 +15.8

21,191
21,609
20,058 |
92, 555
91,858
91,797 !
5,339
4,633
6,209 i
* 71,932 ! < 69,587
* 70,323 !
80 I
81
79 j
1. 240
1. 230
1. 220 i
1,044 i
1,086
905 !

20,493
94, 327
6,145
68,193
72
1.220
764

31,017
87, 971
4,514
< 69,603
79
1.750
1,385

+2.2
+2.8

770,874 ;

894,435 j +16.0

+2.1 +28. 6

38, 554

310, 058
38, 827

-1.0
-3.0
-8.0
0

+5.6

-33.9
+7.2
+36.1
-2.0 i
-8.9
-30.3
-44.8

j

j
60,382 :
779,264 :

-3.7

58,156
828,514

+6.3

14, 680

-22. 8

29
TREND OF BUSINESS MOVEMENTS—Continued
PER CENT INCREASE ( + ) OR
DECREASE (—)

The curnulatives shown are through December except where otherwise
noted.
Earlier data for items shown here may
be found on pages 24 to 138 of the February, 1928, " Survey "

CUMULATIVE TOTAL
FROM JANUARY 1
THROUGH DECEMBER 31

Jan.,
1928,
from
Dec,
1927

FUELS—Continued
Petroleu m—C ontinued
Gasoline:
ProductionRaw (at refineries)
thous. of bbls.
Natural gas (at plants) .thous. of bbls.
Exports
thous. of bbls.
Consumption
thous. of bbls.
Stocks, end of m o n t h Raw (at refineries)
thous. of bbls.
Natural gas (at plants)..thous. of bbls.
PricesWholesale, New York dolls, per gal.
Retail, wagpn, 50 cities..dolls, per gal.
Retail distribution, 41 States.thous. of gals.
Kerosene:
Production
thous. of bbls.
Exports
..thous. of bbls.
Consumption
thous. of bbls.
Stocks at refineries, end rno.thous. of bbls.
Price, 150° water white
dolls, per gal.
Gas and fuel oils:
Production
thous. of bbls.
Consumption—•
By vessels
thous. of bbls.
By electric pow. plants-thous. of bbls.
By railroads
thous. of bbls.
Stocks at refineries, end mo.thous. of bbls.
Price, Okla. 24-26, refineries.dolls, per bbl.
Lubricating oil:
Production
thous. of bbls.
Consumption
thous. of bbls.
Stocks at refineries, end mo thous. of bbls.
Price, cylinder oil
dolls, per gal.
Asphalt:
Production
thous. of short tons.
Stocks, end of month__thous. of short tons.
Imports
thous. of short tons.
Coke:
Production
thous. of short tons.
Stocks, end of month, .thous. of short tons.
Wax:
Production
thous. of lbs.
Stocks, end of month
thous. of lbs.

28, 010
3,214
4,101
29, 779

27, 716
3,245
3,481
28, 409

28,903
3,419
3, 805
25,497

!
i
i
I

28, 558
3,410
3,654
24,400

28, 512
3,512
2,949
23, 718

27, 879
3,426
3,692
20, 939

299, 734
31,305
42,480
261,813

-2.2
27,
* 2, 595 - 2 . 4
3,425 +25.2
17,888 -11.7

. 170 i
. 170
< .143 j
. 142
832,992 I 691,799

4,420
1,669
3,
8,373
.068

4,
1,652
3,280
8,120
.068

4,470
500
3,921
30,346
70

4,436
501
4,145
31,631
.850

4,594
507
4,652
33,191
.865

2,752
2,004
7,491
.251

2,782
1,965
7,447
.255

2,757 !
1,782 I
7,584 !
.253 i

7,811,107 8,684,848
4,869
1,226
3,819
7, 669
.072

4,
2,193
3,469
7,325
.073

330,667
38, 752
43,103
297,928

5,047
2,345
2,742
7,670 !
.070 i

H, 110
507
4,123
33, 637
.838

5,113
1,592
3,882
8,190

-1.3

+47.3
-29.4
-6.3
-25.5

61,768
22, 016
38,140

56,114
19,278
37,595

3,940
821
4,283
23,195
1,255
31,701 || - 1 . 8

2,477
1,739
7,524 !
.245 '

21,870 I

I +4.2
I -2.8
I -63.2

142 !
995

156 j +9.
1,145 I! +15.1

HIDES AND LEATHER
Hides
Imports:
Total hides and skins
thous. of lbs.
Calfskins
thous. of lbs.
Cattle hides
thous. of lbs.
Goatskins..
_
thous. of lbs.
Sheepskins
thous. of lbs.
Stocks, end of month:
Total hides and skins._
thous. of lbs.
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, per lb.
Calfskins, country No. 1
dolls, per lb.
Inspected slaughter of livestock:
United S t a t e s Cattle
thous. of animals.
Calves
thous. of animals.
Swine...
_
thous. of animals.
Sheep
thous. of animals.
CanadaCattle and calves
no. of animals.
Swine._
_.
no. of animals.
Sheep
.no. of animals.
Leather
Production:
Sole leather...thous. of bai
,cks, bends, sides
Finished sole and belting.
thous. of lbs
Finished upper__
thous. of si
Oak and union harness—
stuffed sides.
Skivers
doz.
Unfilled orders:
Oak and union harness...
.sides.
Stocks in proeess of tanning:
Sole and belting
thous. of lbs.
Upper
.thous. of sq. ft.
Stocks, end of month:
thous. of lbs.
Sole ond belting
Upper
.thous. of sq. ft.
4
Revised.




43, 665
4, 545
25, 383
6,485
4,510

36, 356
3,699
21, 561
5,700
3,195

37, 328
3,717
20,634
6,585
4,676

38,151
3,177
23,391
5,32
3,740

239,049
180, 700
36,321
22, 028

243,327
188, 797
33,024
21, 506

248,187
200, 220
27, 942
20, 025

249,673
203,146
26, 973
19, 554

+39.4
+48.5
+52.6
-5.9
+36.0

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

-9.5
-3.5
+21.4
+3.2

55, 397
5,544
33,495
,973
6,245

10,180
5,153
40,636
12,

242, 300
198, 623
26, 803
16, 874

108,610
161,474
59, 505

1,393
26,040
72,095
94, 541
26, 296

117,252 I 132,344
208,308 ! 248,367
137, 970 132, 617

1,325
24, 230
70, 081
90, 707
21, 574

1,246
22, 704
66, 056
93, 892
20,124

81,015
79,600 i 79,669
144,881 ! 147,790 j 148,978
61,355 i 60,811 | 59,163
241,835 1 i 244,268 I 250, 364

79, 399
253, 643
42, 951

* 1, 243
23, 034
72,143
91,457
20, 057

36, 409
3,410
18,856
5,448
5,117

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

66,128
271,156
26, 090

-4.6
+7.3
-19.4
+2.3
+36.8

,519
4,878
43,636
12,883

1,097,418 I 1,148,032
2,493,425 j 2,540,342
545,769
618,057

1,170
23, 235
71, 974
63, 957
19, 781

13,615
262, 305
836,176
1, 204,183
295, 698

15,829
296,802
,041
990, 657
271,771

+16.3
+13.2
-3.2
-17.7
-8.1

30
TREND OF BUSINESS MOVEMENTS—Continued
PER CENT INCREASE ( + ) OR
DECREASE (—)

The cumulatives shown are through December except where otherwise noted.
Earlier data for items shown here may
be found on pages 24 to 138 of the February, 1928, " Survey "

CUMULATIVE TOTAL
FROM JANUARY 1
THROUGH DECEMBER 31

)

Septem-

August

'

cumu! lative
I 1927
! from
i 1926

j January I January

HIDES AND LEATHER—Continued
Leather—Continued
Exports:
Sole
.thous. of lbs.
UpperTotal
thous. of sq. ft.
Cattle and calf
.thous. of sq. ft.
Patent
thous. of sq. ft.
Shecp
_
thous. of sq. ft.
Prices:
Sole, oak, scoured backs,
heavy, Boston
dolls, per lb.
Chrome calf, " B " grades..dolls, per sq. ft.

753 j

12,177
7,634
3,659
884

10,576
7,375
2,322
879

16, 530
11,093
4, 742
695

15, 532
10,614
4,103
815

+7.2
12, 663
8,875 ! +6.4
3,144 | +10.4
644 | +2.1

+22.7
+19.6
+30. 5
+26.6

148,256
104,011
35,831
8,414

.53
. 51

Leather Products

Shoes:
Production
thous. of pairs..
Exports
thous. of pairs..
Wholesale p r i c e s Men's black calf
blucher, Mass_._
dolls, per pair.,
Men's dress welt, tan
calf, St. Louis__
dolls, per pair..
Women's black kid, dress
welt, lace, oxford
dolls, per pair..

35, 0G1
337

343,608 j +5.9
5,514 I; - 3 . 4

32, 267 i * 25, 973
376 !
433

0.40

6.50

5.00

5. 00

4.00

4.00

6.50
5. 00
4.00

Leather Products
Gloves:
Glove leatherProduction
Stocks (tanned)—
In process
Finished
Gloves, cut—
Total
Dress and street—
Imported leather
Domestic leather
Work gloves

thous. of skins..
thous. of skins..
thous. of skins..

1,589
2,636

dozen pairs..

241,652

dozen pairs..
dozen pairs..
dozen pairs..

64, 010
41,669

135,973

long tons..
long tons.
thous. of lbs.

50,535
32,810
45,706

.Jong tons.
long tons..
long tons.
long tons.
long tons.
dolls, per ib.

255,684
96,148
69,109
27,427
63,000
,243

229,999
59,601
36,537
147,952

50, 532
33, 635
141,612

41,150
22,430
119,230

* 48,454
38, 592
33,845

131,016

54,550
30,736
32,654

37,738 ! 50,917
- 8 . 3 j -25.9
24,650 I 27,736 | + 9 . 4 ! - 1 1 . 1
115,496 | 117,617 I - 3 . 1 I - 1 . 8

603,996
690,939 il +14.4
393,890
417,562 i| +6.0
1,498,567 I 1,506,079 ! + 0 . 5
i

RUBBER
Crude Rubber
World shipments, plantation
Imports (including latex)
Consumption by tire mfrs
World stocks, end of month:
World total
United States
Europe
-.
Producing countries
_.
Afloat
Wholesalc price, Para. N. Y

260,799
97,829
72, 748
27,822
62, 400
.230

;
56,559 !
39,108 i 43,340
_ ! 44,078 !
.

614,778
413,200
518,044 I

602,320
426,257 I
514,995 I

-2.0
+3.2
-.6

76,172
58,329
27, 224
75,700 |
.288 i
.268 i

Tires and Tubes
Pneumatic tires:
Production
_
Stocks, end of month
Shipments—
Domestic.
Export
Inner tubes:
Production
Stocks, end of month
ShipmentsDomestic
Export
_
Solid and cushion:
Production
Stocks, end of month
ShipmentsDomestic
Export

thousands.
...thousands.
-

thousands.
thousands.
thousands.
thousands.
tliousands.
thousands.
thousands.
thousands.
thousandsthousands.

4,334 !
8,070 j
4,666 I
144 j
4,871 j
11,023 j
5,898 j
96 :
49 I
183 :
45 '
5'

43,203 :
1,113 ;

46,199 ij + 6 .
2,017 || +81.2

57,515 :

52,697 !i

52,935 '
782 :

53,556 ! + 1 . 2
1,198 | +53.2

8,367 ;
14,758!
6, 208 !
7,464 |

9,358
21,996
6,515
9,932

-8.4

O t h e r R u b b e r Products
Rubber-proofed fabrics:
Production—
Auto fabrics...
thous. of yds..
Raincoat fabrics
_.thous. of yds..
All other
thous. of yds..
New orders, auto fabrics
thous. of yds.
Production, relative to capacity.-per cent..
«Bevised*




802
2, 723
552
876
30.5

i
i
!
I
|

756
3,123
666
955
28.7

819
3,179 ;
636 !
827 i
31.2

691
2,489
611
720
26.3

+ 11. S
+49. (
J
+4. 9
+ 17. 3

31
TREND OF BUSINESS MOVEMENTS—Continued
Per ct

1928

1927

The cumulatives shown are through December except where otherwise noted.
Earlier data for items shown here may
be found on pages 24 to 138 of the February, 1928, " Survey "
August

September

November

October

December

January

PER CENT INCREASE ( + ) OR
DECREASE (—)

1927

Jan.,
1928,
January || from
\\ D e c ,
,; 1927

' Jan.,
! 1928,
; from
Jan.,
! 1927

CUMULATIVE TOTAL | inFROM JANUARY 1
THROUGH DECEM- Ij crease
BER 31
!| or de-

_j: crease
(I)
• cumuli lative
!| 1927
!l from
!i 1926

1926

1927

1,589,684
1,650,716

RUBBER—Continued
Other Rubber Products—Continued
Rubber heels:
Production
thous. of pairs..
Shipments—
To shoe manufacturers.thous. of pairs.To repair trade
thous. of pairs..
For export
thous. of pairs..
Stocks, end of month
thous. of pairs..
Rubber soles:
Production
_
thous. of pairs..
Shipments—
To shoe manufacturers.thous. of pairs. .
To repair trade
thous. of pairs..
For export
thous. of pairs..
Stocks, end of month
thous. of pairs..
Mechanical rubber goods:
ShipmentsTotal
thous. of dolls..
Belting
thous. of dolls..
Hose
...thous. of dolls..
All other
thous. of dolls..

18, 363 ;

18, 452

10,624
8,676 ;
908
38,849

8,882
8,170
722

21,151 j

20,556 i

13,660 j

10,546
10, 245
9,305 i 7,129
913
1,415
39,723 | 41,727 i

6,685 I
4,013
793
46,355 |

2,333 j

2,634 |

3,697 |

3,347 |

1,475 I

1,768 j
849 i
119 !

3,170 I

1,390 !
996
27
3,068

2,169 j
1,096 i
46 i
3,899 I

2, 520 I
976
142 !
3,872 !

749
152
216
3,247

5,863
1,778
1,934
3,712

5,467
1,497
1,963
2,007

5,244 |
1,368 i
1,837 !
2,039 j

4,941 \
1,175 !
1,840 I
2,925

5,327
1,263
2,351
1,713

PAPER AND PRINTING
Wood Pulp
Mechanical:
Production
short tons..
Consumption and shipments.-.short tons..
Stocks, end of month
.short tons..
Imports..
..short tons..
Chemical:
Production.
short tons..
Consumption and shipments.._short tons..
Stocks, end of month
short tons..
Imports.
.short tons..
Price, sulphite
dolls, per 100 lbs..

102,995 , 92, 025
136,569 i 120,326
185,222 ; 156, 574
18,596 ; 28,389

121, 051
130,465
147,160
21,190

4 137,245
* 143, 220
* 158,717
^ 28,308

* 133, 788
135, 632
* 156,872
« 24,976

141,155
139,795
158,802
21,082 |

146,077
163,466
183,011
18,378

+5.5
-3.4
+3.1 I -14.5
+1.2 ! -13.2
-15.6 i +14.7

1, 849,139
1,841,944

220,138 ! 209,776
220,162 ; 211, 744
40,254 I
119,121 ! 119, 970
2.60 S
2.60

213,472
213, 524
38, 234
133,170
2.53

< 214,936 * 210,388
* 213, 772 « 207,064
* 41, 552 * 45,198
142, 736
152, 764
2.53
2.53

209,512 I
209,952
45,150 !
156,164 I
2.53

229,580
229,382
38, 730
153, 584
2.75

-8.7
+1.4 -8.5
- . 1 +16.6
+2.2 +1.7
0.0 -8.0

2, 675,248
2, 683,166

2,587,992 I -3.3
2,582,166 ! -3.8

1,425,709

1,434,952 I + . 6

4

Newsprint Paper
Production:
1
113,126 4 117,166 I 119,312
United States, total
short tons.. * 127,065 | «114,-6
79 !
81
77
Ratio to capacity.
per cent..
190,293 | 181,600
Canada
short tons.. '180,116 i 178,815 | 191,171
Consumption by publishers
short tons.. 154,167 i 169,286 184,805 | 185,202 j 182,027
Shipments:
United States
short tons.. 4 123,926 | 4 114,003 116,885 I 116,468 4 123,883
188,769 | 187,766
181,439
Canada
.short tons.. 180,666 s 177,195
1 6 8 3 0 173540 j 187,796
180,467
Imports.
short tons.. 167475 i 168,630
167,475
173,540
Exports:
847
1,215 :
704 j
739 i
535 |
United States
short tons..
169,202 i
Canada..
short tons.. 163,115 : 168,855 i 159,284 I 179,969
Stocks, end of month:
At mills—
27,939 j 28,543 i 20,877
30,335
United States
short tons..
30, 751
35,774 I 38,074 | 38,117
31,743 ; 33, 384
Canada
_
short tons..
218,177
At publishers
short tons.. 231,992
225, 310 214,872 ! 214,639
45,789 j 46,176
46,708
40,916 ! 45, 570
In transit to publishers
short tons..
3.30 i
3.30
3.25 •
3.25 ! 3.25
Price, roll, f. o. b. mill
.dolls, per 100 lbs..

-.4

302,324

-14.0
-10.4

246,914 I -18.3

119,525 i« 135,395
84 i
186,721
161,724
172,952
168,241

+.2
+3.7
+2.8
-5.0

+15.5
+2.8

1,877,737
2,001,357

2,082,113
2,075,972

114,211 I 4 130,973
186,829 ! 158,866
166,102
177,8

-7.8
+3.0
-1.5

-12.8
+17.6
+7.0

1, 678,056
1,874,746
1,851,339

1,474,326
-12.1
2,057,913 | +9.8
1,984,191 | +7.2

+29. 3
19, 321
+10.6 I 1,731,986

12,411 j -35.8
1,881,866 | +8.7

+10.9
+3.7

j

1,758 :
1, 360 I +228. 6
157, 466 142,329 i + 6 . 9
25,905
37,731
207,449
46,522
3.25

•11.7 | 1,677,484 ! 1,485,300 II -11.5

15,968 !;i +24.1 j +62.2
17,255 i - 1 . 0 t+118.7
232,944 | - 4 . 9 ! - 1 0 . 9
43,624 jj
3.30 !i

- . 4 ! +6.6
0.0 ! —1.5

507
118

722
132

-29.6 ; -29.8 i
+15.7 i - 1 0 . 6 i

12, 329
11,897

12,919
11,178
104
73,841

j +15.5
-4.6 !
j! - 8 . 0 I + 6 . 4 !
|:
!
j
|:
i
!

4
8,275
7, 444
7,800
4
82.8
71. 6
78.0
212,319 4 186,920
*
203,031
202, 627
183, 576 178,224
76,471 4 4 74,430
82, 561
202,646 4 177,329
188,580
212,375 4 181,400
195,714
42, 610
41,317
49, 502

6,999
70.0
173,029
194,285
105, 669
163,337
175, 528
,53, 562

133,184 l * 145, 549
52,161 • 4 34,512

163,023
+8.0
38, 062 I +81.9

Printing

Book publication:
American manufacture
no. of titles..
Imported
.
no. of titles..
Sales books:
New orders
thous. of books..
Shipments..
thous. of books..
Printing activity
weighted index number..
Cash checks, shipments
thous. of checks..

636
129

981 i
143 j

12,739
13,446
93
74,469

12,277
12,387
99
76,364

82.3
232, 723
227,726
112,393 ,
227,763 |
229,437 !
52,713 I

8,675!
86.8
225,633
235,960 :
120,331
216,101
228,393 i
43,115 !

738 !
102 |

720
102

i

13,851 ! 12,126 I 10,671 j
:
12,898 ! 13,086 | 12,934 j|
104 |
105 1
j;
105 !
71,625 ! 82,093 I 70,413 i

8,168 I
1,646 |
142,957
143, 602

8,799 I + 7 . 7
1,354 1 —17.7
1

+1.8
-.3

145,599
143,172 !

Box Board
Operation
thous. of inch h o u r s . .
Operation
per ct. of capacity. _
Production.
.short tons._
New orders
short t o n s . .
Unfilled orders, end of m o n t h
.short t o n s . .
Consumption of waste paper
short t o n s . .
Shipments
short t o n s . .
Stocks, end of m o n t h
short t o n s . .
Stocks of waste paper, end of m o n t h :
On hand
tons..
In transit and unshipped p u r c h a s e s . . t o n s . .

* Revised.




8,902
85.6
226,141
221, 548
105,600
220,974
228,222
41,863

280 I 127,649 I 128,443
72,087 . 53,875 > 65,008

157,176
62, 791

i

+4.8

;
i
i
!
)
!
!

+8.9
+8.6
+13.7
+10.6
+6.3
+7.9
+16.2

+11.4
+11.4
+16.9
+4.3

103, 626

96, 536

-6.8

2, 528,911
2, 506, 285

2,473,832
2,469, 628

-2. 2
-1.5

+15.5
+11.5

2,421,947
2, 521,942

2,367, 597 i
2,477,222 !

-2.2
-1.8

-22.1

-7.6

-3.6
+65.0

!

i
i

32
TREND OF BUSINESS

MOVEMENTS—Continued
[Per ct.

1927

The cumulative8 shown are through December except where otherwise noted.
Earlier data for items shown here may
be found on pages 24 to 138 of the February, 1928, *' Survey "

1928

CUMULATIVE TOTAL i inFROM JANUARY 1 icrease
THROUGH DECEMBER 31
or de-

PER CENT INCREASE (+) O R
DECREASE (—)

1927

I (+)
I crease

August

November

October

December

January | January

"j (-)

Jan., Jan.,
1928,
1928,
from j from
Dec, i Jan.,
1927

1926

1927

I 1927

! cumu| lative
1 1927
! from
i 1926
j

PAPER AND PRINTING-Continued
Other Paper
Binders' board, production
short tons..
Book paper:
Production
short tons..
Ratio to capacity
per cent..
Shipments
short tons..
Stocks, end of month
short tons..
New o r d e r s Coated
p. ct. of normal production..
Uncoated_.p. ct. of normal production..
Unfilled o r d e r s Coated
p. ct. of normal production..
Uncoated.-p. ct. of normal production..
Wrapping paper:
Production
short tons..
Ratio to capacity
per c e n t Shipments
short tons..
Stocks, end of month
short tons..
Fine paper:
Production
short tons..
Ratio to capacity
per cent..
Shipments
short tons,.
Stocks, end of month
short tons..
All other grades:
Production
short tons. _
Shipments
short tons..
Stocks, end of month
short tons..
Total paper (inc. newsprint and box board):
Production
..short tons..
Ratio to capacity
per cent..
Shipments
short tons..
Stocks, end of month
short tons..

2,112

2,461

2,400 |

2,537

106.205 !
84 :

112,984
111,176
75,749
70
76

76
82

!
!

1,940

111,579 I 110,463
85 i
83
109,347 j 4 113, 225
76,461 I 4 73, 403

109,391
83
106,417 : 110,813
75,749 ; 74,234
76
85

82
79

77 I
77 j

2,547 |

2,306

121,509 j 119,965
90 |
123,210
117,565 i
68,265 ! 64,847 i

+31.3
+ 10.0
+8.5
+8.8
+

87 •

-7.0

94,193 !

89, 696 i

i

94 !
86,646 i
81,737 j

97 nno
35, 688
50,199

92,795 !
87 !
92,424 I
80,907 |

4
4
4

93,479
82
91, 329
79, 653

!
!
!
i

4
4
4

88,863 !l
78
85, 220
84, 916

37, 329 ! 38, 814 ! 36,665
38,136
92 :
92 !
87 1
91
3G,769 ; 38, 892 ! 37,398 i 37,259
50, 756
50, 903 i 50,173 I 51.044

103, 623
101,157
102,358
102,311
74,302 j 73, 357

103,058 '
103,040
72,591 :

i
i
4

98, 749 ;
99, 251 I
69,106 '

4
4
4

97, 718
97, 335 ,
(38.751

4

-1.1

i,~334,~642Tl,~324,~6l6~ i~"-.~8

+57.1
-10.0

91,760 h

35, 043
52, 794

101, 658
100, 835
69, 069
1

!
85 I
81 4
79 '
72
82
695, 082 ! 4 674, 539 < 690, 276 666,168 i 4 638, 307 662, 576
361,494 I 355,465
348,440 4 345, 253 i * 341, 601 353,551

+9.2
+4.1
-1.9
+2.0
-4. 5
+2. 6

100, 755
99, 7 >
<2
67, 593

37,421
93
35, 587
52,385

+ 7 . 6 j + 4 . 2 | 1,074,980 | 1,087,155 | - 1 . 1

90,934
68,465
35,118

95,600
91
93,019
88,425

4
* 707, 687 * 674, 679 : 4 683, 325 669, 957 I * 641,410 678, 744

29,686 j - 1 9 . 3
1,331,551 j

-4.
-6.5 I

7 j +37. 5
10 | +12. 5

92,215 !
78,626 j

1,346,180

+1.3
+4.8
+5.3

87 | +1.2 i
93 I +10.1

83 I

36,798 |

+10.5

+4. 0
+3. 6
+. 5

656, 652
649, 492
323, 229

:

! +2.3 1 084,988 j 1,057, 4G9
j+ 29.2:
i +6.5 i 459,111
440,717

+5.
+13.9
+3. 8
+3. 5

320,148

2.~5

8, 022, 448

319, 088~f7, 973, 556

Paperboard Shipping Boxes
Production:
;
Total...
_
thous. of sq. ft.. 400,806
386,039
427, 263
308,585 ! 348, 835
Corrugated
thous. of sq. ft.. 317, 529
77,454
Solid
fiber
thous. of sq. ft..
83,277
78, 428
Operating activity:
85
Total.
per cent of normal..;
72
Corrugated
. . . p e r cent of normal..:
76
85
79
Solid
fiber
_.per cent of normal..
82
83
84 i
Paper boxes:
Shipments
__
dollars 1,214,888 1, 375,977 1, 566, 848
Payroll..
..dollars.-! 317,485 340,692 ( 356,032 J

395,491 ; 342,376
320,511 I 272,807
74,980 | 69,569
77 !
76 i
81 !

64
72
!l, 705,380 il, 470, 669
355,935 ! 337,403

347, 622
277, 280
70, 342

371, 748
293, 677
78, 071

+1.5 ] - 6 . 5
+1.6 I - 5 . 6
+1.1 I -10.9

71 M +4.5 ! - 2 . 8
72 \\ + 4 . 7 I - 6 . 9
68 j +4.2 | +10.3

69
67
75

jl
, 0 3 9 , 4 2 9 ;j

15, 342,456 14,903,480 ! - 2 . 9
3,993,078 3, 774, 711 | —5. 5

285,521 j

Other Paper Products
Abrasive paper and cloth:
Domestic sales
reams.
Foreign sales
reams.
Labels, orders
..per ct. of capacity.

89, 622
13, 584
79.0

85,379
14,361
77.7

BUILDING CONSTRUCTION AND
HOUSING
Rental advertisements:
Minneapolis, Minn
number..
Real estate conveyances (41 cities)
number..

8,347
146, 345

7,800
140, 441

85,155
18,389 |
98.2 i

72, 726
16,392
54.4 i

58, 265
16,034
78.1

80, 505
17,071

6,711. I
4,290 I
2,564
149, 667 i * 145,167 ! 143, 731

2,473

76,717 ; +38.2 j +4.9
12,575 !: +6.5 j +35.8
84.5

1,015, 612
162, 784

-3.5 i -21.0

61,917

3,131 i
135,935

979,981 j

-3.5

192,596 'I +18.3

60,243 | - 2 .

Building Costs
Building materials:
Frame house, 6-room
rel. to 1913_.
Brick house, 6-room
rel. to 1913..
Concrete factory costs (Aberthaw)—rel. to 1914..
Building costs (Engineering News
Record)
..rel. to 1913..
Building costs (A. G. C.)
rel. to 1913..
Construction costs (Am. Appraisal):
Frame.
rel. to 1913..
Brick, wood frame
rel. to 1913..
Brick, steel frame
rel. to 1913..
Reinforced concrete—
rel. to 1913..

187
188
192

194
187
191

181
185
191

204
199

204
201

202
201

205
214
197
200

205 i
215
197 !
200

205
215 !
196
201 I

182
187 !
191 :

178
183
192

190
190
194 |

204
200

204
199 '

205 !
215 i
196 ;
200

205 !
214
197 :
201 !

205
199 |
205
214
196
200

210 l
197 i
204
213 '
198
200

180
184 j

191 I
!

-2.2 i
-2.1 i
.5|

-6.3
-3.7
-1.0

-2.4

0

0

!
!

0
I
-.5 I
-.5 !

+1.0
+.5
+.5
-1.0
0

Building Construction and Losses
Contracts awarded (36 States):
Commercial buildings
thous. of sq. ft_.
9, 723
10, 880
Industrial buildings
thous. of sq. ft.. I 5,839 !
5, 453
Residential buildings
thous. of sq. ft._| 39,354
38, 046
4,114
Educational buildings
thous. of sq. ft j
5,784 |
Other public and semij
public buildings
thous. of sq. ft..j
7,310 i
6,810
Grand total
thous. of sq. ft j 69,863 | 64, 858
Contracts awarded, value (36 States):
i
Commercial buildings
.thous. of dolls._| 73,698 I 56, 938
Industrial buildings
thous. of dolls..j 40,047
48, 052
Residential buildings
thous. of dolls..j 201,743
196,501
Educational buildings
thous. of dolls..! 40,144
28, 344
Other public and semipublic buildings
•_...thous. of dolls..
52. 742
61,951
123, 254
Public works and utilities—thous. of dolls.. 117,053
Grand total
thous. of dolls. _ 534,639 j 505, 830
* Revised*




11,821
5,544 i
45,608 !
4,103 |

7,451
6,382
41,002
4,477

i
j
\
I

9,082
4, 406
38, 747
3, 582

10, 803
4,412
37, 516
3, 380

10,037 ; +18.9
3,721 ' + . 1
29,757 ! - 3 . 2
2,329 ; - 5 . 6

6,393 i
73,765 |

6,014 !
66,560 !

4,381

3, 955
60, 271

3,266
50,568

85,286
27,938
202,447
22,480

65, 981
34, 833
186,904
22, 854

77,726
50,370
236,870
29,699

!
!
i
j

41,893 |
49.203 :
207,308 '
30,642 j

48,555 : 45,744 j 35,823
30,055
105,932 I 68,716 I 90,194
69, 676
549,152 | 443, 506 I 464,167 ; 410, 535

I +7.6
i +18.6
! +26.1
S +45.1

141, 496
78, 790
498, 928
52, 208

132,143
68,095
474,277
53,063

- 9 . 7 ! +21.1 |
- 1 . 0 | +19.2 \\

66,148
842,935

74,972 i +13.3
812,393 | - 3 . 6

77,829 : - 2 2 . 6
27,134j +24.7
160,029
-7.7
16,675 ; + 1 . 7

|
I
i
j

- 1 5 . 2 ! 880,102
+28.4
677,106
+16.8 I 2,597,327
+37.1 ! 367,060

897,172
475,614
2,489,588
368,794

il - 6 . 6
I -13.6
j -4-4.9
;! + 1 . 6

| +1.9
'! - 2 9 . 8
,| - 4 . 1
i
+.5

31,625 i - 1 6 . 1
- 5 . 0 I 580,163
639,519 :i +10.2
53,638 ! -22.7
+29.9 i 1,068,239 1,211,252 i| +13.4
•368,930 i -11.6 ! +11.3 .| 6,102,994 | 6,083,949 l|
-.3

33
TREND OF BUSINESS MOVEMENTS—Continued
1928

1927

The cumulatives shown are through December except where otherwise noted.
Earlier data for items shown here may
be found on pages 24 to 138 of the February, 1928, " Survey "

Ags i
u ut

S

»

October

32, 783
236

47,135
222

November

December

1927

! PER CENT INCREASE ( + ) OR
! DECREASE ( —)

January January

Jan.,
1928,
from

Dec,
1927

Jan.,
1928,
from
Jan.,
1927

CUMULATIVE TOTAL
FROM JANUARY 1
THROUGH DECEMBER 31

Per ct.
increase

(

V

or decrease

(-)

1926

1927

cumulative
1927
from
1926

BUILDING CONSTRUCTION AND
HOUSING-Continued
Building C o n s t r u c t i o n a n d Losses—Con.
Contracts awarded, Canada
thous. of dolls..
Building volume (A. G. C.)
rel. to 1913..
Fire losses:
United States and Canada

29,881 |
238 !

30,260 |
215 i

36,682
162

20,480 |
125

16,772 j - 4 4 . 2 ! + 2 2 . 1
129 I - 2 2 . 8 ! - 3 . 1

372,946

418,951

+12.3

18,992
31,935
43,261 I 37,911 +35.5 +14.1
393, 010
320, 597 -18.4
21,300
21,875 ! 22, 327
(Journal of Commerce)
thous. of dolls..
2,959
2,378
32,903
22, 667 -31.1
1,778
1,501
+52.0 +24.4
1,309 ! * 1, 947
1,789 i
Canada (Monetary rimes)..thous. of dolls.
LUMBER PRODUCTS
Softwood L u m b e r
Southern pine:
439,773 | 419,297
462,571 i 422,022
455,796
457,587 j 438,708
-3.7
+10.3 i +9.6 5, 374, 288 1 5,173, 558
Production (computed)
M ft. b. m_.
442,920
395,239 ! 470,837
382,751 +19.1 I +23.0 5, 431, 747 5,135, S86
-5.4
Shipments (computed)..
_M ft. b. m_. 473,029 i 477,046 | 446,696
436, 385
398,192 ! 523, 508 i 426, 558 +31.5 | +22.7
5, 348, 988 5, 241, 265
-2.0
New orders (computed)
M ft. b. m_. 487,599 ' 483,097 j 453,811
+8.5 | +7.4
Stocks, end of mo. (computed) _.M ft. b. m_. 1,220,663 1,193,268 jl, 190,112 1,194,404 i 1,207, 534 j|l, 309,864 1,219,779
305,164 I 287,741 !| 385,054 i 299,314
328,561
320,096
346,715
+33. 8 +28.6
Unfilled orders, end mo. (comp.)M ft. b. m_.
43,550 i 52,930 !
66,332 I 64,492
581,578
711,441 i +22.3
66, 790
48, 260
48, 637
+25.3 , +2.9
.
Exports, lumber
M ft. b. m_.
183 I
308 j I
870 !
261 +182.5 1+233.3
210
179
113
20,001
3,743 i -81.3
Exports, timber
M ft. b. m_.
37.49
37.98
36.42 !
35.54 I
35.26 !
40.81
37.68
Price,
flooring
dolls, per M ft. b. m_.
- . 8 | -13.6
Douglas fir:
410, 045
437, 352 410,493
529,120
542,102
538, 968
6, 322,127
Production (computed)
M ft. b. m_.
497, 337
-6.1 !
+. 1 6, 357, 936 5, 972,070 - 57.. 5
386, 768 397,571
411, 836
521, 958
492, 860
491, 070
5,878, 066
Shipments (computed)
M ft. b. m_.
411,389
+2.8
— 5
.5
397, 511
458,839
519, 719
444,514
464,211
New orders (computed)
M ft. b. m..
487, 936
452,124
+11.8 I - 3 . 1
-7.8
6, 437, 618 5,937,153
51, 072
65,121
85, 299
48, 025
Exports, lumber
M ft. b. m_
61, 999
+67. 0 +-73 . 6
685, 855
-1.3
73, 717
56, 204
695,119
7
46, 492
2,280
26, 449
Exports, timber
M ft. b. m .
47, 711
-95. 1 - 9 1 . 4
-6.5
48, 864
519, 887
64, 781
15,498
555, 764
14.80
15.48 |
16.43
16.51
15.23
Price, No. 1 common, dolls, per M ft. b. m_.
15.17
+2.9
16. 39
-7.3
Price, flooring, 1 x 4 , " B " and
34.04 |
better, V. G
M ft. b. m_.
35.83
35.47
35.83
36.06 I - 1 . 3
-5.6
35.08 | 34.50
California redwood:
32,099
487,314
Production (computed)
M ft. b. m_.
53, 977
43,142
507,909
-4.1
42,343
52,925 | 36,029 ! 39,454
+9.5 I +22.9
35,851 | +12.3
Shipments (computed)
M ft. b. m_.
53, 022
42, 676
507, 591
41,418 i
469,979
40,578 | 26,882 ! 30,201
-15.8
+8.0
42,600 i +65.6 | - 9 . 0
42, 373
23,898 | 38,763
New orders (computed). _
M ft. b. m . .
39,680 ! 36, 492
515,918
508,453
41, 376
+1.5
California white pine:
159,670
72, 552
51,187 i 55,821 -29.4 j - 8 . 3 1,484,606 1,203, 530 -18. 9
Production
M ft. b. m_.
150,088 i 122,029
92,762
122,064
82,087
119,652
123,538
92,568
90,891 ! 75,706 j +10.7 I +20.1 1, 362,985 1,226,242 -10.0
Shipments
M ft. b. m_.
667,618
629,284 I 623,671
624,651
609,181 i 591, 017 j
Stocks, end of month
M ft. b . m_. 603,451
+3.1
Western pine:
169,338
52,371 i 69,113 j -32.3
Production (computed)
M ft. b . m_.
145,101
134,691
1,729,128 1, 555, 726
118, 704 i 77, 348
-24.2
-10.0
123,524 114,579 ! +24.2
150,979
Shipments (computed)
M ft. b . m_.
150, 768 153,019 124,083 * 99,454
1, 782, 459 1,633,443
+7.8
-8.4
Stocks, end of mo. (computed).M ft. b. m_. ,095,370 1,089, 500 1,069,825 1, 068,630 1,039,389 997,431 ; 1,069,835 -4.0
-6.8
North Carolina pine:
Production (computed)
M ft. b . m . .
53,781
48,139
40,019 I 47,712 \ - 1 6 . 9 - 1 6 . 1
52,129
57,295
593, 691
613,851
+3.4
53, 522
47,845
Shipments (computed)
M ft. b . m . .
52,934
52,234
613,655
56,133
50,813
+4.6
586,817
37,030 : 47,054 ; - 2 2 . 6 - 2 1 . 3
Northern pine:
Lumber—
Production
-M ft. b . m_.
51,054
41,148
24,300
33,550 ! 32,493
+38.1
488,244
46,852
32, 815
486,440
-.4
+3.3
42,501
Shipments._
_M ft. b . m_.
39,175
24, 680
29,451 ! 30, 557
541,957
-16.7
39,195
+19.3
451, 720
32,857
-3.6
-16.7
36,884
33,698
22,156
32,703 ! 29,184
493,324
New orders
_.M ft. b. m . .
32, 098
411,144
+47.6 +12.1
27,569
I
Lath7,251
14,272
7,315 I
Production
thousands..
11,979
9,034
4,472
+63.6
126, 324
6,144
118,894
+.9
7,941
3,994
5,300 !
6,261
Shipments
thousands..
11,819
+32.7 - 1 5 . 3
128, 815
-6*. 9
5,377
119,970
15,612
Northern hemlock:
19,811
Production
_M ft. b. m_.
21,369
14,277
9,188
13, 949
-7.9
209,229
192,678
11,026
14,474
22,693
Shipments-_
M ft. b . m_.
17,914
10,014
228, 074
-.2
14,261
228,478
19,187

Hardwood L u m b e r
Walnut lumber:
Production
M ft. b. m .
Shipments
. M ft. b. m .
Stocks, end of month
M ft. b. m .
New orders
M ft. b. m .
Unfilled orders, end of month. _M ft. b. m .
Walnut logs:
Purchased
_-~M ft. log measureMade into lumber and
veneer
M ft. log measureStocks, end of month.__M ft. log measureNorthern hardwoods:
Production
M ft. b. m_
Shipments
M ft. b. m .
Lower Michigan hardwoods:
Production.
M ft. b. m .
Shipments
_M ft. b. m .
Stocks, end of month
M ft. b. m_
All hardwoods:
Total stocks, end of m o n t h Total 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 .
Unfilled ordersTotal hardwoods 1
M ft. b. m.
Gum
M ft. b. m_
Oak
M ft. b. mProduction (computed)
M ft. b. m.
Shipments (computed)
M ft. b. m_
New orders (computed)
M ft. b. m_
4

Revised.




3,314
3,127
11,498
2,461
7,522

3,000
2,798
11, 796
3,046
7,364

2,921
2,967
11, 739
2,335
6,982

3,234
2,824
12,149
3,127
6,282

3,376
2, 548
13,037
2,158
5,395

3,063
2,687
13,264
2,628
5,389

2,417 1
2,809
11,810
3,621
7,591 |

-9.3

+5.5
+1.7
+21.8

+26.7
-4.3
+12.3
-27.4

- . 11 | - 2 9 . 0

3,308

3,773

2,549

3,515 '

2,709

2,255

2,441 i - 1 6 . 8

-7.6

2,937
3,687

2,995
3,465

2,814
3,166

3,035
3,646

2, 656
3,615

2,416
3,041

2,088
2,260

-9. 0

+
+15. 7

27, 077
29, 750

18, 536
26, 475

15,488
27,623

15,469
24, 556

20, 707
19,269

38, 053
25,178

4,893
7,507
40, 552

4,257
7,055
35,491

5,388
7,348
33, 532

5,124
6,344
21,350

4,996
5,895 I
30,902 |

9,135 !
8,024 !
40,804 !

843,886
221,167
308, 723

853,948
231, 300
313,817

873,696
237,395
318,944

889, 772
241, 868
321, 900

664,677
170,437
242,208

683,762
179,246
257,604

697,288
180,899
259, 794

705, 678
184,015
259,053

210,432
66,409
72,736
94, 000
79, 000
85, 000

196,757
64,384
62,011
96,000
82,000
85,000

930,398 111,021,295 |
263,649 || 297,464 j
331,362
360,590

740,914 |
197,437 1
1
272,082 i
i
! 204,701 | 214,616 225,388
! 68,494 | 70,282
83,126
65, 343
! 65,499 ! 68,699
! 93,000 ; 87,000
75, 000
| 83,000 I 77,000
69,000
! 87,000 i 79,000 j 76, 000

I
805,780 i
219,301 I
296,720
256,464
100,560 l
69,392

898, 606
238,364
304, 723

-15.9

+34.6
+34

+7.2

33,158
38, 642

35, 545
34, 768

-10.0

37,495 j

34, 782

-7.2

30,129 I

35,262

29,253

31, 742

+17.0
+8.5

359, 771
352,453

347,236
329,100

93,184
90, 045

80, 339
90, 048

-3.5
-6.6
-13. J

+9.8 ; +13.7
+12.8 ! +24.8
+8. 8 ; +18. 3

+8.8 j +15.4
+11.1 +30.0
+9. 1 : +17. 4
232,338 +13.8 ! +10.4
83,627 +21. 0 +20. 2
59,143 I +6.2 ! +17.3

698, 475
168,645
252, 811

84,000 I
84,000 I
90,000 I

1,055,000 I 963,000
1,066,000
987,000
1,093,000 I 1,012,000

-8.7
—7.4
—7.4

34
TREND OF BUSINESS MOVEMENTS—Continued
i Per ct.

1928

1937

The cumulatives shown are through December except where otherwise noted.
Earlier data for items shown here may
be found on pages 24 to 138 of the February, 1928, " Survey "

; PER CENT IN! CREASE ( + ) OR
DECREASE (—)

1927

CUMULATIVE TOTAL ; inFROM JANUARY 1 crease
THROUGH DECEMBER 31
or de-

! crease

Jan.,

September ; October

August

Novem- December
ber i

1928,
from
Dec,
1927

January j January-

|
;
j
I
I
i
|
Total Lumber
|
!
j
|
Production, 10 species....
M ft. b. m__ 12,576,986 2,487,733 12,374,882 2,358,209 12,085,371 |2,143,125 !2,098, 788 !j + 2 . 8
Exports, planks, joists, etc
M f t . b . m . j 191,764
188, 579 j 171,074 ! 167,986 1 168,289 i 239,145 I 178,697 I! +42.1
Retail yards, Minneapolis district:
!
j
I
I
II
Sales
._
Mft.b.m.j
16,618
14,435! 16, 247 ! 12,554 1 M, 742
5,042 I <4,762 II + 6 . 3
Stocks, end of month
Mft. b. m . J 87,656! 86,248; 80,397; 74, 658 I « 80,690
89,035 i « 90,307 |i +10.3
Composite lumber prices:
i
l
l
41.11 ! +1.7
Hardwood
dolls, per M ft. b. m_J
42.40
41.64 40.02
39.04
39.74
40.42
Softwoods
dolls, per Mft. b. m._;
29.49
29.74!
31.77!
28.29 j
26.84
29.74 i +2.0
27.37 !

Jan.,
1928,
from
Jan.,
1927

1926

1927

cumulative
1927
from
1926

PRODUCTS—Continued

;
Flooring
Maple
flooring:
Production
M f t . b. m..i
Shipments
Mft. b. m._
Stocks, end of month...
M ft. b. m..i
New orders
Mft.b.m.j
Unfilled orders, end of month.. M f t . b . m . j
Oak
flooring:
!
Production
Mft. b. m..i
Shipments
Mft.b.m.j
Stocks, end of month
Mft.b.m.j

New orders
M ft. b . m . . l
Unfilled orders, end of m o n t h . . M ft. b. m__i

Wooden Furniture

|
i
11,557 1
10,939!
26,338 !
7,344 |
11,027!
I
40,426 |
38,932!
66,253;

i
10,283 j 10,558
9,843; 8,124
25,921 I 26,837
7,748!
7,493
9,619;
8,202
|
39,498! 38,540
38,084! 38,349
66,416! 67,244

36,139!
27,036 \

37,430 i
25,127 !

I
I

7,843 j
!

33,389 I
30,998
69,449 I
31,425 |
24,080

P l y w o o d a n d Veneer

j

!
thous. of sq. ft. of surface...!
thous. of sq. ft. of surface..!
!
end of
thous. of sq. ft. of surface..!
!
number of carloads..
number of carloads. J

j

7,346
7,252
28, 721
8,161
9,154

9,842
7,880
29,034
6,587
6,224

32,113 I
29,266
74,773 '
34,715 '
27, 887

35,947

35, 215
31,929
70, 629
37,497
41,061

82, 239
53,888
45,925

-25.4
-8.0
—1.1

112, 201
110,345

112,825
111,274

+.6
+.8

+23.9
+47.1
+2.1
+19.3
+16. 4
+43.7
+11.8

105, 677

87,055

-17.6

533,053
503,079

451, 733
442,309

-15.3
-12.1

482,331

435, 257

-9.8

136, 634

107,819

-21.1

134,004
165,949

106,180
137,005

-20.8
-17.4

43,138
46, 860

34, 509
34, 956

-20.0
-25.4

2,309

1,161

'

- 3 0 . 5 I 8,489,116
- 3 4 . 0 ! 8,860,093
- 1 9 . 8 8,109,745
-48.0 !
+14. 3 !

8,505, 694
8,990,777
6,281,940

25 L.
52
6.0
98.0

7,784

7,043

-9.5

-16.4 !

+58.1

-18.3 I

-42.8
-41.7

8,427

-18.5 I

1,803

2,851

10,338
13, 072

5,918
7,617

7,259
9,347

2,245 I
3,424 i

2.114
3,219

2,469
2,575

3,219 I! + 1 6 . 8 I - 2 3 . 3 !i
3,348 1 - 2 0 . 0 —23.1 I j
1

2,765 !

2,719

102 i
96 i

!

3,490

-18.5 !

94 !
86

3,591

80 I
132

, +5.3

116
59

-20.3

-14.9 -31.0
+53.5 +123.7

I

\
s e t s . . 855,308
.sest._i 805,059
. s e t s . . ' 413,443
. . . s e t s . . ! 1,923,653
s e t s . . 3,169,910

57 IL
4 6 |i_

'•

!
2,890 i
3,415 i
2,773
2,616 !
3,310 ; 3,516
j
I
3,162;
3, 767 i
3,502 i
i
!
122
112
101 j
162; 105
79

Barrel Headings
Circled headings for wooden barrels:
Production (rough)
_
Shipments (finished)
New orders (finished)
Unfilled orders, end of month
Stocks on hand, end of month

7,820
6,797
29, 527
6,883
8,736

I

Grand Rapids district:
,
j
•
Unfilled orders, end of
!
i
month
No. of days'production..
53 j
5 0 ! 41
45 !
New orders...
No. of days' production. J
25 [
30 \
24
35 !
Shipments
No. of days'production..
27 j
29* 30
28 |
Outstanding accounts, end of
•
!
!
59|
month
No. of days'sales..
55 j
5 8 ! 58
Cancellations
per cent of new orders..!
9.0 i
7.5!
11.0 13.0
Plant operation
per cent of full time..!
98.0 I
99.0 |
100.0 99.0
Piano benches and stools:
9,597 j 10,988 I 14,395
12, 291
New orders (av. per
firm)
dollars..
Unfilled orders, end of month
4,883
(av. per
firm)
...dollars..!
2,773
3,884! 5,331
Shipments—
i
i
!
12,667
Value (av. per
firm)
dollars.,!
8,342!
9,863! 12,935
Quantity (total)
pieces..! 10,879 j 12,469! 17,401
16,661
Plywood:
New orders
Shipments
Unfilled orders,
month
Rotary-cut veneer:
Receipts
Purchases.

-1.4

+1.7 i
-8.0 !

I
I
8,073
7,238 !
27,610 I
6,233 !

35,716
22,764

+2.1 29, 520,313 27, 992, 530 - 5 . 2
+33.8 1,940,563 2,156, 316 +11.1
+5.9
195,494
152, 822 -21.8

\

i
i
7027,07! 480,438! 753,053! 585,774
353,674 J 508,827
j 703,532
831,402
871,742
619,607
407,094
617,160
i 542,291
746,657
226,918
698,474
456,145
568,835
il, 131, 618 1,175,241 1,064,723 1,079,508 1,037,375 1,993,216
|3,821,508 3,396,865 !3,203,704 ;3,205,147 3,341,371 12,924,016

STONE, CLAY, AND GLASS PRODUCTS

|

Clay Products

!

I

j

+4.3

+.2
+1.5

-22.5

|

Face brick, averages per plant:
Production
.thousands..!
Shipments
_
_
thousands..;
Stocks, end of m o n t h . . - .
thousands..!
Unfilled orders, end of month..thousands..!
Common brick:
;
Stocks, end of month—
\
Burned.
thousands._j
Unburned
thousands..!
Shipments
.thousands..!
Unfilled orders, end of month..thousands..!
Plants closed down
number..;
Price, red, New York
dolls, per thous. _j
Porcelain plumbing
fixtures:
i
Net new orders
pieces..!
Shipments.
pieces. _|
Unfilled orders, end of month
pieces. J
Stocks on hand, finished glost, end
|
of month
pieces. J
!
Vitreous china plumbing
fixtures'.
New orders
.pieces. J
Shipments
pieces. J
Unfilled orders, end of month
pieces..!
Stocks, end of month
pieces..I
* Revised.

-39.6
-34. 3
-34.7
-3.9




842 •
825
2,564
1,069 ;
!
:
427,277 ;
178,357 :
194,971
231,637 i
10
11. 75 !
!
l

798
693
2,466
880

809
724
2, 679
801

j
j
i
i

561,367
169,238
214,169
182,462
71
11.75 |
|
4

!

723 !
622 i
2,777 I

626
368
2,832
730

482

402 ]
2,958 !
761 I

538,698
91,424
187, 448
211,961
70
11.75

168,282
224,825
11.25

12.75 :

14,065
* 19,582
4 29,455

* 14,939
* 16, 251
* 28,143

6,024
12,242
21,925

13,953 I
13,239 !
22,639 !

« 25,863

« 29,044

4 29,998 i

33,353 !

223,980
235,883
325,069
518,452

227,896 168,138! 223,188
245,725 180,015 I 189,084
307,240 | 295,363 328,867
500,868! 526,773 557,483

489,566
158,761
176,315
219,244
59
11.75

< 20,046
, < 21,870
« 34,972

249,169
279,539
337,956
520,364

489 i - 2 3 . 0 I

462,565
58,331
93,806
324,837
68

504, 836
76,601

I
I
;
!
I
;
|;

j
!
!
j

8,929 !
7,959 I

8,661
8,007

1,754,834

17.00 1 +13.3 -25.0 il
1

+3.1
-.6

2,211,243 ! +26.0
_j

.1+131.6
-\[ +8.1
-I +3.3

+.6

33,552 |
235,816
210,971
323,712
514,471

-1.4

282 I +9.2 ! +42.6
2,409 I +4.4 +22.8
727 I! +4.2 +4.7

200,988
281,896
497,700
558,121

+5.7
+27.0
-1.6
-2.3

+17.3 ': 3,105,489
-14.5 ! 3,011,784
-35.0 !
-2.4 ;

2,685,034
2,933,371
L
!

-13.5
-2.6

35
TREND OF BUSINESS MOVEMENTS—Continued
1928

1927

The cuinitiatives shown are through December except where otherwise noted.
Earlier data for items shown here may
be found on pages 24 to 138 of the February, 1928, " Survey "

August

November

Septem- j
ber
i October

December

1927

j, CUMULATIVE TOTAL
PER CENT IKi
V R ? nM JTA\TTTAT?V 1
FT 0 ¥
ANUARY
i CREASE ( + ) OR '
THROUGH DECEM| DECREASE ( —)
BER 31

Jan.,
1928,
from
Dec,

January January

! Per ct.

or decrease

(-)

Jan.,
1928,

cumulative
1927
from
1926

1927

64,885

1927

1926

from
Jan.,

63,563 | -2.0

1927

STONE, CLAY, AND GLASS
PRODUCTS—Continued
Clay Products—Continued
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..
Terra cotta, new orders:
Quantity
net tons. _
Value
thous. of dolls..
Sand lime brick:
Production
thousands..
Shipments by rail
thousands..
Shipments by trucks
thousands..
Stocks, end of month
thousands..
Unfilled orders, end of month..thousands. _

Portland Cement
Production
thous. of bbls..
Shipments
thous. of bbls..
Stocks, end of month
thous. of bbls_.
Stocks, clinkers, end of month..thous. of bbls..
Wholesale price, composite
dolls, per b b l . .

5,489
5,366
2,048 ;
11,307 i

5,537
5,588
2,124
11,285

5,877
5,242
1,975
11,991

5,018
4,321
1,638
12,687

15,643
1,557 \

13,440
1,342

11,907
1,049

11,134
1,008

21,300 ! 21,680
7,375
6,729
13,294
11,815
12,547
18,689
19,800
16,094

18,928
5,134
13,623
14,423
15,318

18,315
21,411
16,292
7,887
1.683

17,505
19,828
13,996
6,490
1.683

17,174
18,105
13,141
5,960
1.683

13,528
7,445

11,581
6,872

15,301
750
10,005

5,514
4,331
1,648

4,490

10,010

13,029
836

10,850
949

9,851
1,138

18,086
6,558
11,833
13,468
14,845

« 13,912
* 4,189
* 8,694
* 18,538
< 14,772

10,652
3,307
6,777
14,282
10,830

8,307
3,824
5,378
16,455
17,908

+9.6 | +10.1
+13.5 | -16.6
- 2 3 . 4 +28.2
- 2 1 . 1 -13.5
- 2 2 . 0 +26.0
- 2 3 . 0 -13.2
- 2 6 . 7 -39.5

14,449
11,619
16,022
% 374
1.683

11,999
6,200
21,821
7,599
1.683

9,782
6,531
25,193
9,349
1.683

8,258
5,968
22,914
9,989
1.713

+5.3
+15.5
+23.0

9,800
5,527

7,984
5,102

6,542
4,657

23,354
927
9,921

29,206
1,151
9,466

29,712
1,104

17,886
758
8,517

10,616

9,353

8,703

8,573

7,446

2,142
69.3
1,850
2,120
8,765
6,217

1,999
69.6
2,340
2,325
8,606
5,925

1,969
66.3
2,314
2,054
8,681
5,878

2,045
68.5
2,574
1,928
9,043
6,049

2,224
74.6
2,474
1,724
9,616
6,551

2,410
32.0
38.3
31.4

3,609 i
40.7 I
43.4 I
45.7 |

3,814
50.6
44.0
45.2

3,454
47.8
40.2
40.7

2,353
33.2
32.9
36.7

1.3
3.5

1.5 !
3.6 I

1.4

1.3
4. 1

1.0
4.0

j
i
|
I
i

160,188
19, 340

147,135
14,479

+18.5
+9.4
+9.9

164,070
161,781

171,908 ||
170,922 II

0

-6.4
-1.8

4,236
2,656

-9.8
-11.9

+39.3
+54.5

107,303
61,134

125, 768
73, 952

+17.2
+21.0

8,115
508
9,839

-40.0
-39.6
-0.4

+32.2
-9.8
-13.8

214, 514
9,444
130, 674

189, 349
8,285
115, 918

-11.7
-12.3
-11.3

128,858

111,390

-13.6

24, 557

25,310

+3.1

25,741
23,844

27,068
25,495

+5.2
+6.9

-18.5

-8.1
-25.1

+4.8
+5.7

Highways
Concrete pavements, new contracts:
Total
thous. of sq. yds_.
Roads
thous. of sq. y d s . .
Federal-aid highways:
Completed—
Cost
thous. of dolls..
Distance
_
miles..
Under construction, end of month....miles..

5,902
4,103
10, 728
458
8,480

Plate Glass
Production, polished

thous. of sq. ft..

8,484

Glass Containers
Actual production:
Quantity..
thous. of gross..
Relation to capacity
per cent..
New orders
thous. of gross..
Shipments
thous. of gross..
Unfilled orders, end of month..thous. of gross..
Stocks, end of month
thous. of gross..

i
I
;
i
!
!

2,032
71.3
2,725
1,803
10,274
6,541

2,207
76.9
2,680
1,958
10,140
6,327

-.8

+3.1
+8.3
+13.6
+5.4
-3.4

+8.6
+7.9
-1.7
+8.6

i
j
1

-1.3
-3.7

i

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..
Stocks,end of month.number of weeks' supply..

CHEMICALS AND OILS
Chemicals
Sulphuric acid:
517
454 !
474 I
417
Exports
thous. of lbs..
541
.75
Price, wholesale
...dolls per lb_.
.75 j
.75 !
.76
.78
N it rate of soda:
Imports
_
long tons... ; 71,904
64,753 \ 55,154 j 67, 091
66,546 j!
Production in Chile—
Quantity
metric tons.. 142,800 143,700 | 189,
233,849
1,200 ] 210, 000
Units reporting
number of plants.. !
38
41 !
56
62 !
46 !
Potash, imports
long tons...
43, 572
28,822 i 27,
',884 ! i 17,039
16,227 I
Superphosphate (acid phosphate):
:
Production
short tons.. 256,980 267,516 | 340, 411 !J 342,400 350,587 !;
Stocks, end of month
short tons.. 1,468,286 1,361,529 !
H,580,,756 ! l,806,877 2,016,311 i
Shipments
short tons..
109, 447 |
75,260
83,988 !
Fertilizer:
79,347 198,547 I
Exports
long tons_.
672 !
95,605
80, 319
Consumption in Southern
100, 659 113,322 ;
States...
_.
_
short tons..
121, 075 :
87,965 | 157, 858 li
Dyes and dyestuff, exports:
109,954 250,971 !
Vegetable
thous. of lbs..
359 I
377
422 i
237
229 <
Coal tar
thous. of lbs_.
1, 838
2,222 |
1,920;
2,254
4,469 '
Arsenic
Crude:
972
Production
short tons..
1,472
1,269
1,125 |l_
1,004
Stocks, end of month
short tons..
1,009
1,422
1,200
1,326
1,375 ||.
Refined:
986
Production...
short tons..
873
937
822
782
Stocks, end of month
short tons..
2,321 ;
1,346
1,787 ;
2,255
2,101 | j .
Price index numbers:
192
202 I
Crude drugs.—
__rel. to Aug., 1914..
207 i
206
201 1
1
121
Essential oils...
rel. to Aug., 1914..
203 ;
123 I
126 :
128 i|
Drugs and Pharmaceuticals
...rel. to Aug., 1914
156
156
160 ]
169 j
169
112
Chemicals
rel. to 1913-14..
113
112 !
112
112
127
134 :
134 I
Oils and fats
rel. to 1913-14..
133
128
< Revised.




2,948
35.6 :
35.5
40.5

37, 766

69,867

47,240 ;

242,800
62
31, 646

79,151 i!
25 !
30,189

.....I

+7.9
+4.0 |
+47.9 |
+5.0
+ 3 . 8 +206.8 |
0
+148.0 |
+95.0
+4.8
+3.5
0

519
.75

560
.78

:::::::::::

-7.5

7,512 j - 1 8 . 0

904,986

736,025

2,014, 031

1, 611,342

-20.0

303, 652

268,997

-11.4

3, 421,944

I 289,095 .
12,302,048 .
9,181 I;.

87, 632

9,224

34,916 ;

3,249,032

1,165,786 I 1,257,6

+9.1 +29.5
+14.6
-43.4
+5.3

-18.7

-5.1

+7.9
+16.2

1, 096,101

1, 273,176

603, 343 j 4 526, 771 j +282. 2

5, 248,436

4, 691, 665

227 I
1,865 ! - 2 2 . 8

2,597
25, 812

3,771 I +45.2
26,763
+3.7

5,498

13, 929 +153. 3

6,221

10, 315

239 I
1,715 !

1,414
2,725

-8.0

.
.

913 L
1 , 9 8 3 J •_

203 !

+3.

5

130

126 1 +1. 6
1

169
112
130

155 i
114 |i
128 :

0
0

+1. 6

+2
+3
+9

5
2

0
-1.8

+1. 6

;

-10.6

+

+65. g

36
TREND OF BUSINESS MOVEMENTS—Continued
iPer ct.

1928

The cumulatives shown are through December except where otherwise noted. I
Earlier data for items shown here may '
be found on pages 24 to 138 of the February, 1928, " Survey "

PER CENT INCREASE ( + ) OR
DECREASE (—)

1927
1

CUMULATIVE TOTAL ! inFROM JANUARY 1 crease
THROUGH DECEM(
BER 31

i V

I

September

Novern- | December j ber

October

January • January

Jan.,
1928,
! from

i or de!crease

Jan.,
1928,

from

1926

1927

1 Dec, Jan.,
1 1927

1927

CHEMICALS AND OILS—Continued

()
! cumui lative
I 1927
! from
i 1926

Wood Chemicals
Acetate of lime:
Production13,325
12, 958
13, 912
13, 519
12, 376
12,152
14,181 I - 1 . 8 -14.3
157, 077
156, 667
United States
thous. of lbs.
-0.3
172
427
1,091
1,106
1,186
1,109
1,200 I - 6 . 5
8,681
-7.6
9,700
Canada
thous. of lbs.
+11.7
Shipments|
13, 516
* 13, 611 J
13, 298
16, 959
11, 779
-2.9
+13.6
156,139
155, 339
United States
thous. of lbs.
11,440 j 10, 067
513
830
1,462
395
509
+ 9 8 . 0 +53.6
8,585
7,899
Canada
thous. of lbs_
-8.0
782 !
Stocks, end of month—
19, 704
16,274 |
15,465
20,110
16, 524
16,978 ! 19,910 I + 9 . 8 - 1 4 . 7
United States
..thous. of lbs.
1,823
2,222
1,283
1,560 |
2,462
2,888
2,187 ! +17. 3
+32.1
Canada
.
thous. of lbs.
283
None.
915
676 !
2,078
1,630
1,630 ;! - 2 1 . 6 I
0
18, 583
Exports
thous. of lbs.
12,134 | - 3 4 . 7
3.50
3.50
3.50
3.50 !
3.50
3.50
3.50 !
0
0
Price, wholesale
dolls, per cwt.
Methanol, crude:
Production—
662, 505 I 617, 627
582,710 I 576,947
643, 491
632, 883
805,473
United States
gallons.
+2.5 -21.4 8,095,953 I 7,820,426
-3.4
12, 058
17, 777
48,179
47, 750 !
49,107
Canada
gallons.
47,234
49,885 I -3.8
-5.3
364,091 I 414,495
+13.8
Stocks at crude plants, end of m o n t h 367, 657
354, 398 341,722
320,231
375, 965
365, 584
United States
gallons.
-14.1
397,999 | -3.5
33,414
31,824
39, 414
50, 299
Canada
gallons.
39,249
27, 057
48,446 | -22.0
-19.0
Stocks at refineries and in transit—
United States
.gallons. 1, 408, 637 1,467,460 1,181,225 1,407,745 1,165,544 11,126,152 341,444
- 3 . 4 +229.8
,
28, 610
31,987 | 43,458 I 56,104 ! 15,913 +29.1 +252.6 I
1, 590
27, 995
Canada
gallons.
j
18, 796
48,624 j 39,369
Exports
gallons.
20, 526
57, 983
33,384
11.012 | -15.2 1+203.1 | 417,265 ! 309,060 - 2 5 . 9
Wood at chemical plants:
ConsumptionUnited States
cords.
82,581 |
79, 670
70,855 |
73, 219
65,150
67, 012
80,233 I +2.9 - 1 6 . 5
853,164 I 859, 224
-.6
Canada
cords_
1,154 |
2, 401
5,121
5,700
-3.9
49,413 I
49,086
5,937 |
5, 858
6,096 ! +2.8
Stocks, end of month—
United States
cords.
613, 771
589,605 ! 529,141
603,463
595, 591
554,488
500,818 ! +4.8 +10.7
Canada.
__
cords.
68, 693
66, 624
75,124
74, 440
71,695 |
74, 942
34,872 j - . 9 +103.5 i
Daily capacity—
3,323 !
Total
cords.
3,395
3,339
3,329
3,293
3,553 ! - 1 . 1
-7.3
Shutdown
cords.
145
391
330
145
277
425
155 I - 1 6 . 1 +78.7
Methanol, refined:
ProductionUnited States
gallons.
317, 521
441, 771
688,435 529,552 470, 969
496,073
480,448
+5.3
+ 3 . 3 | 7,402,715 I 5,414,154
-26. 9
Canada
gallons..
28, 293
6,700 I 38,600 I 41, 000
None.
38, 700
35,290 ! - 5 . 6
+9.7
291,925 j 300,138
+2.8
Stocks, end of month—
United States...
gallons.. 428,194
382, 876
452,246 i 419,812
396,137
455, 316
436,656 i +8. 5
+4. 3
Canada
.gallons.,
32,854
58, 312
43,458
50, 687
26,443
29,198
58,596 j -32. 8 -50. 2
Shipments—
United States
gallons.
389, 033
506, 914
698, 476 * 626, 643 506, 310
482,666
374,530! -4.7
+28.9
Canada
gallons..
28,629
23, 982
8,440
38, 569
16, 937
17, 775
26,037 ' +4.9 -31.7
Price, wholesale, N. Y
dolls, per gal_.
.55
.58
.53
.48
.83
-42.2
0
Ethyl Alcohol
Production
thous. of gals..
Withdrawn for denaturization..thous. of gals..
Warehouse stocks, end of month.thous. of gals..

15, 587
12, 212
11,122

14.129
14.130
9,838

16, 584
17,759
7,931

18,051
17,329
8,211 |

36, 304
35, 736
34,680
17, 344

36, 858
36,964
35,304
17,152

38,261
36, 747
17,807

34,695 | 29, 490
34,645 j 27, 839
32,111 ! 27, 398
17,847
19,196

29,607
31,332
29,879
17,973

47,809
58,915

45, 775
73,019

39,115
80,473

35,795
28,154
77,676 j 81,939

7,764
72,035

.59

.55

194,653 i
179,936 i

13,235
8,907
3,563 i

19, 502
18, 760
8,158

173,630
162,087

-10.8
-9.9

436,215
436, 335
416, 580

408,889
406, 045
390, 540

-6.3
-6.9
-6.2

303,347 |

406,514

+34 . 0

1,097,111 ! 1,406,414

+28 . 2

Explosives
(Black powder, permissible, and other high
explosives)
Production
Shipments
New orders
Stocks, end of month

thous.
thous.
thous.
thous.

of lbs..
of lbs..
of lbs..
of lbs..

« 33,847 j +.4 - 1 2 . 5
33, 726 +12. 5 - 7 . 1
33, 616 I +9.1 - 1 1 . 1
17,303 j -6.4 +3.9

Naval Stores
Turpentine (gum):
Net receipts, southern ports
barrels..
Stocks at 3 ports, end of month
barrels..
Price, southern, in barrels,
New York
dolls, per gal..
Rosin (gum):
Net receipts, southern ports
barrels..
Stocks at 3 ports, end of month
barrels..
Price, common to good (B),
New York
dolls, per bbl_.
Rosin (wood):
Production
barrels..
Stocks, end of month
barrels..
Turpentine (wood):
Production
barrels..
Stocks, end of month
barrels..
Pine oil:
Production
gallons..
Stocks, end of month
gallons..

35,521 '
71,982

34, 839
76,327

6,347
8,256

6,562
10, 232

242,050 !
524,246 i

244, 445
555, 818

27,441
3,166

27, 902
2,907

.51 !
i

.53

132,059 ] 144,892
222,167 ! 247,954
9.24

.54

.60

.83

+11.1 -27.7

41,160
200, 262

39,136
160,120

-64.3 +5.2
-19.5 +25.1
+9.7 - 2 2 . 9

!

8.55

8.70
28,483
85,553

237,625
588, 778

235, 695
561,363

+5.1
+47.0

115, 397
248, 755

35,187
35,963 i 87,179
82,717
6,820
6,901
13,385
12,163

i

-72.4
-12.1

j

5,291
12,869

9.54

12.38

29, 200
85, 413

35,168
33,513

5,771
10,631 I

7,053
5,531

192,141 I
588,571

198, 646
605, 771

241, 563
305,151

25, 853
3,118

21,743
3,088

19,266
3,628

3,386

1,587

+2.5
-.2
+9.1
-17.4

-17.0
+154. 9
-18.2
-80.8

+3.4 - 1 7 . 8
+2.9 +98.5

326,501
62,654 ;

414,858 ! +27. 0
79,778

2,341,995 | 2,782,356

+27 . 3
+ 18. S

Roofing

Roofing felt:
Production, dry felt..
tons..
Stocks, end of month, dry felt
tons..
Prepared roofing:
Shipments
thous. of roof squares..
«Revised.




158,514 ! 151,045
198,883 ! 229,426
i
10.08
10.62 |

7,386
48,993

2,992 i

3,287

27,512 i 25,680
3,748
3,810
3,218 i

3,280 !

-15.9
-.9

+12. 9
-14.9

276, 362

303, 311

+9.8

1,405 , - 5 3 . 1

+13.0

32,040

33, 993

+6.1

37
TREND OF BUSINESS

MOVEMENTS—Continued
Per ct

1928

1927

The cumulatives shown are through December except where otherwise noted.
Earlier data for items shown here may
be found on pages 24 to 138 of the February, 1928, ** Survey "

DecemOctober i Novem- j
!
ber
i
ber

August ! September

1927

January

CUMULATIVE TOTAL
FROM JANUARY 1 |
THROUGH DECEMBER 31
or de-

PER CENT IN*
CREASE ( + ) OR
DECREASE (—)
Jan.,
1928,
from
Jan.,
1927

January

i
j;
iI
|
!i

I

1926

1927

crease
(-)
cumulative
1927
from
1926

CHEMICALS AND OILS—Continued
Fats and Oils
Total vegetable oils and copra:
Exports...
thous. of lbs.
Imports
thous. of lbs.
Copra, imports
_
short tons.
Copra or coconut oil:
Imports
thous. of lbs.
Consumption in
oleomargarine
thous. of lbs_
Oleomargarine:
Production
thous. of lbs.
Consumption
thous. of lbs.
Animal glues, shipments
thous. of lbs.
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 lbs.
Stocks, end of month
thous. of lbs.
Cottonseed oil, refined:
Production
thous. of lbs.
Stocks, end of month
..thous. of lbs.
Price, yellow, prime,
New York
„.dolls, per lb.
Consumption in
oleomargarine
.
_-thous. of lbs_
Cottonseed cake and meal:
Production
short tons.
Stocks, end of month...
..short tons.
Exports
short tons.
Fiaxseed
Minneapolis and Duluth:
Receipts.
thous. of bushs.
Shipments
thous. of bushs.
Stocks, end of month
thous. of bushs.
Imports
thous. of bushs.
Linseed oil:
ShipmentsTfrom Minneapolis.thous. of lbs.
Price, New York
dolls, p e r l b .
Linseed cake and meal:
Shipments from Minneapolis.thous. of lbs.
Exports..
_
thous. of lbs.

1,767 !
50,092 !
19,311 j

55,985
21, 694

5,307
55,387
15,660

6,484
68, 589
23, 422

8, 481
60,010
29, 582

9,405
59, 870
26, 872

21,469 |

25,936

22,702 I

30,095

29,339

32, 751

10,436

12,286 I

12,373

13, 549

13,191

9,837

20,672 I
19,387
6,076 I

23, 495
23,981 I
6,075 i

26, 041
26, 823
7,113

25,913
26, 256
6,061

i
27,461 !I 26, 205
26,717
27, 729
6,100 |_
!.

70, 713
704, 365
225, 519

+61.7
+5.2
-1.4

I

245,130

294, 369

+20.1

+34.1 ||

31,588

8,840 !

43, 720
669, 782
228, 799

97,640

121,594

+24.5

6,967
51,953
19,681

22, 748
21,859
6,731

+3.7
li

243,511 !
242,710 !
80,090 !

848,706
290,422 |l, 007, 261 1,282,625
,
,
782,681
581,090
876,630
161,423 644,954 1,050,949 1,113,974
050949

483, 281
605, 206
992,049

339, 212 581,856
570, 408 849, 721
763, 353 1, 035, 766

-29.8
-5.7
-23.1

272,547 | 247,523
146,567 j 165,069

192,057
157, 578

181,022
168, 519

250, 368
175,190

+6.9

205, 888
415, 833

176,051
502,901

143,378
538, 257

205,929
395, 022

-18.6

217, 894
46, 212
26, 322

178,018
87,474

100 849 ! 194, 676
225, 782 310, 330

32, 210
274,711
.100

.109

107
2 113 1

1,745

.106

.100

.101

.085

2, 228

2,260

2,154

2,162

4,088
3,241
4,671
1,491

1,079 !
i
2,035 [
I
3,997 I
1,029 I
!

10,859 ! 12,970 j 13,202 !
. 107 !
.104 ! .099 j

9,253 j
.099

8,878
.096

10,145 | 19,420 ! 31,492 I
58,947 i 52,984 ! 48,625 i

34,857 !
58,522 j

5,512 I
1,102
1,583 i
1,716 i

- 2 7 . 7 I 1,764,288 1,806,450
-3.8 i
i
476,947
- 3 0 . 4 ! 1,

1,592, 597

-4.2

| +2.4
+7.8

+36.3 I
+18.8

259,275
177,118
53, 249

72,659 i 258,685 i 391,037
45,116 ! 109,591 ! 186,997
15,122 i 26, 306 I 53,834
717
496
589 !
1,123

+7.0

5, 842,105 ! 5, 595,930
5,945,675 | 5, 899, 751

2,013

344,591 j 268,757
205,008 I 190.354
63,790 \ 43,327

-5.7

-41.7
-32.9
-26.3

276, 504 I +13.5
274, 577
+13.1
75,140
-6.2

8,230
2,008 \
5,246 !
1,758 !

925
576
3, 312
1,181
13,023

22,581 ! 27,056
53,999 j 44,367

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 markets...thous. of bushs..
Shipments, principal markets.thous. of bushs_.
Exports:
United S t a t e s Wheat only
thous. of bushs..
Including wheat flour.thous. of bushs..
CanadaWheat only
thous. of bushs..
Including wheat fiour.thous. of bushs..
Prices:
No. 2, red winter, Chicago.dolls. per bush..
No. 1, northern spring,
cash Minneapolis
dolls, per bush..

67,273
28,264
81,632
46,583

!
I
|
|

23,402
28,137
12,197
14,510

|
I
|
|

1.40 |
1.427

84,630
22,958
115,728
79,740
50,374

j
i
I
!
|

94,607 ! 96,468
62,492 i 121,009
73,244! 44,823
49,252 ! 35,156

33,748 | 29, 236
39,509
36,045
14,071 I 19,430
17,118 | 23,475
1.32 |

1.34

1.323 !

1.275

90,506 I
147,506 I
115,637 i
.
26,522 I
19,440 !

82,368
152, 560

59,731
116, 613
• 116,413
23, 542
24,595
14, 284
13,757

5,956
20.731 i 6,917 I
11,560
26,696 | 11,986 |
;
52,805 ! 44,809 !i 15, 201
57,976
49,114 !j 18, 647
1.43
1.35
1.38 ;
1.264

12.75 I

12.93

Wheat Flour
Grindings of wheat:
United States (census)
thous. of bushs..
44,099
48,131 ! 49,792 I 44,882 * 42,604 ! 42,028
Canada..
thous. of bushs..
9,656
8,115 |
5,276
6,925 I 9,138 i
Production:
United States, actual
(census)
thous. of bbls_.
9,050
9,617
10,470 ; 10,817 ! 9,735 | *9,235
United States, prorated
!
(Russell)
thous. of bbls..
10,877
9,676
10, 458
11,337
11.816 ! 12,540
Canada
thous. of bbls..
1,496
1,767
1,158
1,528 i
2,005 i 2,120
Production, grain offal
thous. of lbs.. 761, 468 833,108 I 866, 428 l 782,841 i 4 745, 242 736,907 i 676,292
Capacity operated, flour mills
per cent..
53
55
53
59
54
64 '
« 63 I
Consumption (computed)
thous. of bbls..
10,451
7,867
9,346 | 11,617 ; 11,111
Stocks, all positions, end of
month (computed)
thous. of bbls..
7,300
6,800
6,100 I
7,500
8,490 j
7,900 I
4,540 I
3 4,336
Stocks, millers', end of quarter__thous. of bbls_.
4,267 ! _ . . .
|
Exports:
1,052
1,126 |
1,245
1,009
+10.6 I +23.4
United States
-thous. of bbls..
1,280 I 1,513
1,326 I
514
957
!
Canada
thous. of bbls..
677 !
899
1,149 !
766
774
Wholesale prices:
Standard patents,
7.45
Minneapolis
dolls, per bbl_.
7.60
7.07
7.23 ;
7.15
7.10
7.46 !l -14.9 j - . 1
Winter straights,
6.55 !, +2.1 +2.3
6.54 I
Kansas City
dolls, perbbl..
6.70
6.77
6.64
6.58 '., 6.56
5
4
Quarter ending December 31, 1926.
Revised.




!|
ij
p.
|L

11,930
10,457

12,813
9,262

+7.4
-11.4

38
TREND OF BUSINESS MOVEMENTS—Continued
Per ct.

1927

The cumulatives shown are through December except where otherwise noted.
Earlier data for items shown here may
be found on pages 24 to 138 of the February, 1928, " Survey '*

1928

eptem- |
August ! ber ! October

November

December

1327

January

CUMULATIVE TOTAL j j n .
FROM JANUARY 1 C r e a s e
THROUGH DECEM- ! (_[_)

PER CENT INCREASE ( + ) OR
. DECREASE (—)
:

Jan.,
1928,
from
Dec,
1927

January

BER 3i

I ordei crease
i

Jan.,
1928,
from
Jan.,
1927

from
1926

FOODSTUFFS—Continued
Corn
Exports, including meal
__thous. of bushs..'
Visible supply, end month
thous. of bushs.Receipts, principal markets.._thous. of bushs._•
Shipments, prin. markets
thous. of bushs..
Gnndings (starch, glucose)
thous. of bushs._
Prices, contract grades, No. 2,
Chicago..
dolls, per bush..

475
23,805
16, 758
11,762
7,304

571 i
25,110
22,116 |
12,257 !
7,561 i

538

861

21,847
18,448
9,665
8,613

20,439
16,971
10,256
8,064
.87

.99

1.09

1,200
28,390
37, 088 I
16,064 !
6,301

2,017 +37.7 - 1 7 . 6 !i.
40,616 i I +5.9 - 2 5 . 9
27,638 : - 2 . 9 +30.3 !
10,638 I +21.7 +83.8 !!
6,095 ' +32.2 +36.7

1, 661
30,078
36,001
19, 551
8,330

25,217

14,994 - 4 0 . 5
:
247,412 ' + 4 . 0
137,093 ' +12.6
Si, 200
+9.3

237,977
121,783
76,095

+2.3 + 1 5 . 6 ;

.89

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. cf lbs..

17, 223 i
26, 430 I
1, 038 !

13, 914
25, 182
891

11, 961
24, 429
672

10, 733
22, 982
724

.49
1, 107

.50
1, 027

.51
1. 110

.55
1, 202

13,357 ! 11,050

13,565

14,734

Barley

21,413 !
22,501 '
1,795 j
I
.48 i
791 j
j
9,785 j
i
j

Receipts, principal markets...thous. of bushs..
Visible supply, end mo
.thous. of bushs-Exports
thous. of bushs..
Price, fair to good, malting,
Chicago
dolls, per bush..

11,108 !
3,532 I
4,065 j
i
,80 j

15,547 !
4,900 1
6,637 !

10, 908
4, 398
6, 927

7, 654
4, 338
490

4. 199
2, 707
3! 425

.82

.84

.88

7,496
1,595
6,425
1.00

4,619
2,412
2,889
1.06

2,386
3,275
1,309
1.09

1,477
3,656
519
1.09

55,498 i 50,820

37,608

18,650

16,279 ;

14, 377 :
46, 890 !
614 :

.93

Rye
Receipts, principal markets..-thous. of bushs..
Visible supply, end mo.
.thous. of bushs..
Exports, including flour ..thous. of bushs..
Price, No. 2, Chicago
dolls, per bush..

j

.83

10,495
21.519 ,
'838 :

.50
791

.56

;

-27.0 !
-54.1 ;

-2. 2
-6. 4

+ 15. 7 +36.5 !
+1. 8 +12.0 !

2, 063
4 180
h 006

18,734

•

+52.4 +140.4
-12.9 -43.6
- 5 1 . 7 +69.1 :.
+5.7

14Sr 7S7

-8.3

1^. oIS j - 2 7 . 8
;
!
10,245 S - 4 . 4
121,3)0 ': - 1 3 . 7

10,717
140,596

8, 890

6,401
2,359 !
1,701

162,170

41,979

05. 5u7 | —56. 0
i
37, 'do2 ; — 179. 8

13,560

+25.7

'

I
4,293
3,083
1,325
.97

10,512 I
2,207 I
7,743 !
.97 ?

! 1,281
; 12,591
i
804
! 1.02

-38.1
+11.6

+15.3;
- 7 1 . 0 !I

-60.4

0

+c.9 ;;

20,605

4i,7ol

12,035

30,173 1-200.6
;

261,228

-35.4 '

32$, 470 ; - 2 5 . 7

'.

^+102.6
_••

Total Grains
Total grain exports, incl. flour..thous. of bushs..

35,796

Bice

i
j

17,060 : -12.7

853,581 ! 817,939 [ + 2 . 7
Southern paddy, receipts at mills
bbls.. 792,345 ll, 167,281 1,719, 740 1,266, 278 831,033
Shipments:
j
;
Total from mills
.pockets (100 lbs.).. 423,559 849,908 11,200,174 1,162,603 1,006,759 1,118,120 1,120,252 +11.1
New Orleans...
pockets (100 lbs.).. 109,951 I 193,155! 239,453^ 232,725 234,740
158,323! 249,175 -32.6
Stocks, end of month
pockets (100 lbs.).. 1,235,674 11,581,097 |2,247,038 2,409,940 l 2,290,857 2,106,310 12,095,911 '• - 8 .
469,435 ! 368,895 +76.9
Exports
pockets (100 lbs.).- 109,992 1 134,032 203,350
160,871 267,294
-3.6
52,744 ! 56,818
Imports
pockets (100 lbs.)..
19,503 j 27,217: 21,888' 22,808
54,723
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 fruit, car-lot shipments
carloads..
Hay, all tame, receipts..
tons..

33
3,352
17,418
2,313
4,492
51,652

j
j
i

-4.0

'
;

+ 4 . 4 h 7,568,035 | 9,20S, S35 '] +21.7

1

— 2 7,628,436 ! 9,634,168 +26. 5
-36^5 1,924,998 I 2,101,510
+9.2
+0.5
+27.3 1,174,923 ! 3,197, 537 +172. 2
- 7 . 2 1,168,974 ' 522,071 -55.3

i
i
1,038 i
11,039 j
23,674
4,473
3,853 i
64,440 i

5,992
31,612
37,410
5,754 I
5,618 i
69,233

7,831
16, 607
20,318
2,924
7,487
55,161

* 6, 845
5,881
13,206
2,234
12,123
51,806

5,296
5,305
19,665
3,114
9,057
63,009

;
:
!
!
:
!

1,691
729
319
980

1,771
660
234
1,080

i
i
1
j

7,335
7,827
17,408
2,797
11,725
78,088

-22.6
-9.8
+48.9
+39.4
-25. 3
+21. 6

-27.8
-32.2
+13.0
+11.3
-22.8
-19.3

124,561
226,740
32,221
97,139
796, 457

98, 505
24H, 151
32, 368
105,993
696, COS

+8.6
* +. 5
^+9.1

22,7«i3
9.172
3,013
13,4,59

-4.6
-2.5
-2.6
-G. 2

- 3 . 9 I - 1 2 . 7 ! 5,756,513 I 5,277,227
- . i ! - 1 2 . 0 I 5,735, 880 j 5,324, 23b
-11.2 • -50.7 ;
24,777 !
19. 353

-8.3
-7.2
-21. 9

-20.9

-12.6

Cattle and Beef
Cattle movements, primary markets:
Receipts
...thousands..
2,065
Shipments, total
thousands._|
802
Shipments, stocker and feeder..thousands._|
269
Local slaughter
thousands._]
1,231
Beef products:
j
Production, inspected
thous. of lbs..i 465, 597
Apparent consumption
thous. of lbs..; 470,490
Exports
..thous. of lbs. J
1,899
Cold-storage holdings,
1
end of month..
thous. of lbs..
33,446
Prices:
Cattle, corn-fed, Chicago.dolls. per 100 lbs..,
12. 58
Steer rounds No. 2
dolls, per lb-J
. 203
Western dressed native steers,
;
New York
dolls, per l b . .
.200

1,988 i
906 I
407 I
1,085 I

2,635 :
1,259
675 :
1,291 :

453,993 i 475,455 |
455,239 ! 474,078 !
1, 609 !
1,165 !

2,346
1,156
615 !
1,240 (
459,364 !
443,800 j
1,085 i

403,660
394,808
1,097 :

1,832
657
205
1,130

387,750 ! M43,918
394,936 ! i 448.614
974 i
l|975

35,878

43,916;

65,345

*76,947 j

70,660 |

95,2fi

14.33 !
.190 !

15.94
.190

15.50
.196

15.80 '
.220 !

10.30
. 145

.238



3,041
1^192
38
1,846

1
I
:
1

+ 1 . 9 ; +53.4 j
+ J2.2 : +51.7 I

.234

23,872
9,405
3,710
14,349

-8.2 ! -25.8 I

13.31
.199
.213

.225

:

.230

1

.178

Hogs and Pork
Hog movements, primary markets:
Receipts..
thousands..;
Shipments, total..
thousands..
Shipments, stocker and feeder..thousands..!
Local slaughter
thousands..:
Pork products, total:
Production, inspected
thous. of lbs..
Apparent consumption
thous. of lbs..;
Exports
thous. of lbs..|
Cold-storage holdings, total,
I
end of month
thous. of lbs..:
Fresh and cured in storage,
!
end of month
thous. oflbs.J
 • Revised.

M 7
-3. 3 i
- 9 . :> • + . 5 !
-().() : +14. 1 !
+ 10.2 \ - 4 . 9 i

2,565
1,051
48 :
1,512 '

3,039
1,137 :
78 i
1,883 ;

3,666
1,284
113
2,382

I
- 3 . 4 1 +29.2 ;

4, 2."»2
1,527
1)9
2,601

+2..1
+24. 5
-18.9
+25.4

+24. 8
+21.1
-22.2
+27.8

580,606
595,110
72,958

458,919
497,128
596, 842
793, 789 •). 935,467 ! 783, 758
576,349
615,065 603, 579 * 594,140 ! 676,373 i 564, 328
89,829 : 72,251 | 67, 764
87, 955 I 98,794 ! 85,134

+ 17.8
+13. 8
+ 12.3

+ 19.4
+19.9
+16.0

933,436

726,941

658, 647

+27. 8

+12.2

766,418

60S, 767 ' 407,119 ' 419, 822 * 523,425 ' 655,158 > 589,071

+25. 2

+ 11.2

539,240 i 465,976

4, 209 i
1, 485 !

95 !
2, 745 ;|

4

578, 280

5,306
1,849
77
3,443

738,938

i
:
!
|

41 410
15 044
922
345

-4.1

7,272 534 ; 7. 730 701
6,153 883 6, 705
1,119, 757 i
9S4 340

-6.3
-9.0
-12.1

39

172 ;
917 :
24 579

+7.2

39
TREND OF BUSINESS MOVEMENTS—Continued
;Per ct.

1927

1928

The cumulatives shown are through December except where otherwise
noted.
Earlier data for items shown here may
be found on pages 24 to 138 of the February, 1928, " Survey "

1927

i CUMULATIVE TOTAL ! inPER CENT IN- |
FROM JANUARY 1 ! crease
CREASE ( + ) OR
THROUGH DECEMDECREASE ( —)
i! (+)
BER 31

or decrease
i (")
cumu
! lative
!
1927
from
! 1926
1

!
! Jan., Jan., i
I
.1 1928, j 1928, ;j
January I January ! from j from i 1926
i
D e c , Jan., :
!
I 1927 ! 1927 j

1927

FOODSTUFFS—Continued
Hogs and Pork—Continued
Lard (included in pork products):
Production
thous. of lbs_.
Exports
thous. of lbs_.
Cold-storage holdings,
end of month
thous. of lbs...
Prices:
|
Hogs, heavy, Chicago
dolls, per 100 lbs |
Hams, smoked, Chicago
dolls, perlb.-l
Lard, prime contract, N. Y . .dolls, per lb._j
Sheep and Lamb

+2.9^
;
:| 1,513,385 !| 1,550,74'
681,303 1 - 2 . 5
+12. 4 ; +18.1 I '698,976

j 154,592

70,660

59,842

83,780 !

69,576 1 +52.7 j +20.4
1

8.32 [

—3.0 ! —30.5
- . 9 j -21.2
+3.3 | -3.9

11.97
.269
.129 '

.212 !
.124

j

Sheep movement, primary market:
;
Receipts
thousands.-!
Shipments, total
thousands..
Shipments, stocker and feeder, .thousands, J
Local slaughter
thousands..
Lamb and mutton:
j
Production, inspected
thous. of lbs.. 1
Apparent consumption
thous. of lbs..;
Cold-storage holdings,
\
end of month
_
thous. of lbs..;
Prices:
:
Sheep ewes, Chicago
dolls, per 100 lbs..1
Sheep, lambs, Chicago-..dolls, per 100 lbs. J

1,740 |i + 6 . 0
819 I - 2 . 5
207 i - 3 3 . 3
921 +10.9

1,705 i
705 |
116 i
994 !

I
!
j
I

-2.0
-13.9
-44.0
+7.9

47,081
47,073 I

Miscellaneous Meats
Cold-storage holdings, end mo..-thous. of lbs__;

44,292 |

4,386 I

5.63
13. 01

44,161 ! +5.4 ! +6.6

23,869
12,450
4,623
11,386

23,934 ;
12,482 ! +.3
4,899 i +0. 0
11,459 !

+.6
+.2
+. 6

4,447 j

+6.3

+6.4

500,890
500,288

501,706
503,529 :

-.5 1 -1.4 |
+7. 5
-5. 6 !
6.41 | - 2 . 8 | + 1 . 4 i
12.47 j

6.05 '
12.65 |

61,791 '

64,113

+4.4

+3.8 .

Total Meats
+ 7 . 7 :13, 529,935 13, 509, 693
-.1
Production, inspected
thous. of lbs. il, 091,069
958,290 1,018, 772 il, 098, 559 1, 242,109 1,370, 298 I4 1,271,837 +13.1
...;•
878,097
820,139 i +21.8 i + 7 . 1 ;
Cold-storage holdings, end mo...thous. of lbs. 11,034,057
822,973 635, 349 I 587, 338 I 4 721,055
+8. 3 + 5 . 8 i 12,390,026 12,533,001 ;: + 1 . 2
Apparent consumption
thous. of lbs. 11,110,507 1,076,686 1,134,997 il, 089,256 1,033,040 1,118,382 !* 1,057,234

Poultry
Receipts at 5 markets
Cold-storage holdings,
end of month

thous. of lbs.

22,691 '

24,391 j

29,103

61,370

70,350

thous. of lbs.

39,711 I

43,201 I

52,315

85,030

* 117,490 '

of lbs..

33, 284

26,633

27,385

21,096

of lbs..

54,061

60,330

65,960

66, 790

27,704

-58.3 ; +5.9 i

117,972! 144,076

+.4 ; -18.1 r

29,347 !

362,138

344,209 -\ - 5 . 0
;;

Fish
Total catch, prin. fishing ports...thous.
Cold-storage holdings,
15th of month
thous.
Canned salmon:
Shipments, United States
Exports, Canada

cases..
cases.

802,320 il, 138,147 | 791,856 j 377,951
110,004 I 97,163 ! 120,446 ; 209,358

14,052

+1.8

- 2 1 . 2 |i

64, 787

-16.7

- s . o !!

14,300 ! 18,140
I
53,962 ! 58,655
1
349,112 i
! 482,140
95,921 |; 168,946 j 106,145

4

263,985

288,070 : + 9 . 4
::.

....;...

:

+76.1

:

6,297,670 I 6,159,681 : - 2 . 2
+59.2 j 1,244,984 1,144,241 : - 8 . 1

Butter
Production (factory)..
..thous. of lbs..
Receipts, 5 markets...
thous. of lbs..
Cold-storage holdings, creamery,
end of month
thous. of lbs..
Apparent consumption
thous. of lbs..
Wholesale price, New York
.dolls, perlb,.
Cheese
Total, all varieties:
Production (factory)..
thous. of lbs..
Receipts, 5 markets....
thous. of lbs..
Apparent consumption
.thous. of lbs..
Cold-storage holdings,
end of month
thous. of lbs..
Imports
_
thous. of lbs..
Exports, United States
thous. of lbs..
Exports, Canada
_
thous. of lbs..
American whole milk:
Cold-storage holdings,
end of month
thous. of lbs..
Wholesale price, New York..dolls, per lb._
Eggs
Receipts, 5 markets.
.thous. of cases..
Cold-storage holdings, end of month:
Case
thous. of cases..
Frozeu
thous. of lbs_ _
Milk
Condensed milk:
Manufacturers' total stocks
(end of month)—
Case goods
thous.
Bulk goods
thous.
Manufacturers' unsold stocks
(end of month)-—
Case goods
thous.
Bulk goods
-thous.
4
Revised.




143,464 i 113,555 I 149,785
58,310 ! 42,234 I 38,301 |
163,701 ! 147,396
136,123 I 179,871
.42 i
.46

36,157
22,556
36,827

118,679 ! 83,224
178,353 i 159,106
.48 ! .50

88,164
33,687
46, 289
163,244
.52

103,861
42,271
28,296
159,687
.49

21,186
13,826
35,335

24,033
14,409
37,408

64,035
7,474
211
8,878

55,750
5,347
257
1,324

4

36,614 | 32,862 ! 20,511
21,522
18,995 i 14,279
46,587 I 48,793 j 36,022

90,204 I 85,131
3,430 | 5,102
225
251
16,023 | 19,040

77,603 i 70, 735
8,976
8,441 |
321
211 j
16,072
20,944

>9,749 : 65,453 I 59,035
.25 :
.27 I
.28
1,005

86,238
33,607

897

9,650 ; 7,960
77,508
71,208

704 I

53,447
.27

4

< 47, 765
.29

603

5,485 j 2,956
62,066 j 54, 703

608
4

| i 93, 912
! 37,705
i 17,952
i 145,906
i
.50

4

- 2 . 2 i + 9 . 4 ii 2,087,449

-5.8 > -2.0 Ii

.._

-4.5

431,619 I - 1 2 . 9
218,164 I +4.9
486,511
-3.0

129
10 3 I
62,136
5,608 ; —2&5 ; - 4 ! 7 !'
356 I +21.8 ! - 2 7 . 8 I
3,209 - 8 5 . 1 : - 5 8 . 7 I

78~4l8~
3,902
134,658

J_
79~797 : ~ + L 8
3,337 ! - 1 3 . 2
110, 534 , - 1 7 . 9

970

-12.7 ! - 9 . 4 I
0 I +11.5 I
+41.8 - 2 9 . 5

25
38, 451

253 -97. 2 ; - 9 0 . 1
31,207 ; -18. 2 : +23.2

of lbs..
of lbs..

18, 357 i 35,932 j 29,155
43,559
20, 796 i 19, 566 | 14,956 |4 12,362

4

24,820
8,310

20,521
8,452

16,594
8,303

-17.3 +23.7
+1.7 : +1.8

of lbs_.
of lbs..

38,325 I 33,004
7,600 i 7,500

4

19, 048
4, 656

15,054
5,212

11,296
3,388

-21.0 +33.3 | .
+11.9 : +53.8 !.

30,535 ! 424, 919
5,970 i 5, 521

1,993, ftfi

495,483
207,887
510,479 :

882
47, 020

4

1,579,872 c + 8 . 8
582,456 ' + 1 . 7

-8.4 I
26, 250 +13.4
12,706 i + 4 . 2 +13.4 |
+5.9 ; +2.2 |;
36, 616

41,693 j 46,026
.29 I
.26
862

+17.8 : +10.6 j 1,451,766
+25.8 | +12.1 ij 572,934
-38.9 I +57.6 IL.

15,601 '

16,204

+3.9

40
TREND OF BUSINESS MOVEMENTS—Continued
Per ct.

1927

The cumulatives shown are through December except where otherwise noted.
Earlier data for items shown here may
be found on pages 24 to 138 of the February, 1928, " Survey '*

1927

Jan.,
October

November

Jan.,

1928,

December

1928,

1927

September

August

CUMULATIVE TOTAL I inFROM JANUARY 1 crease
THROUGH DECEM(+)
BER 31
I or decrease

II PER CENT 1Njj CREASE ( + ) OR
!| DECREASE (—)

from
Jan.,
1927

January ! from
| Dec,

cumulative
1927
from
1926

1926

1927

38, 713

347 887

-9.9

68,048

-10.3

FOODSTUFFS—Continued
Milk—Continued
Condensed milk—Continued.
Exports
thous. of lbs., i
Wholesale price, New York .dolls, per case__:
Evaporated milk:
j
Manufacturers' total stocks, end
I
of month (case goods)
thous. of lbs. .
Manufacturers' unsold stocks,
case goods
thous. of lbs__
Exports
..thous. of lbs__
Wholesale price, New York.dolls, per case..
Production, c o n d e n s e d and
evaporated milk
thous. of lbs..
Powdered milk:
I
Manufacturers' total stocks.._thous. of lbs. J
Exports
thous. of lbs..I
Net new orders
.thous. of lbs..j
Fluid milk:
]
Receipts—
j
Boston (includ. cream)—thous. of qts j
Greater New York
..thous. of qts..;
Production—
j
Minneapolis, St. Paul.-.thous. of lbs._|
Consumption in manufacture
j
of oleomargarine
thous. of lbs_.|
j
Raw:
I
Imports—
|
From Hawaii and Porto
j
Rico
long tons..!
From foreign countries
long tons.. \
Meltings, 8 ports
long tons..!
Stocks at refineries, end month...long tons..)
Receipts, domestic, at New
j
Orleans...
long tons..!
Refined:
j
Shipments, 2 ports
long tons..
Stocks, 2 ports
long tons.J
Exports, including maple
..long tons..'
Prices:
I
Wholesale, 96° centrifugal,
!
N. Y._
dolls, per l b . J
Wholesale, granulated, N . Y.dolls, per l b . J
Retail, granulated, N. Y
dolls, per l b . J
Retail average, 51 cities
relative to 1913.. |
Cuban movement (raw):
I
Receipts at Cuban ports
long tons. J
Exports
long tons..
Stocks, end of month
long tons..

2,694 !l +62.8 +41.8
5.63
0
+6.6

2,760
6.00

2,981
6.02

2,345
6.00

236,173

222,482 I 205,587

166,187

140,133

54,888 .• - 1 5 . 5 [+115.

203, 643
4,240
4.58

198, 281
3,756
4.58

183, 239
5,130
4.58

149,397 i
4,662 !
4.59

117,115
4,532
4.57

19, 084
5,554
4.50

175,316

120,928

112,651 i

99,393

99,465

13, 232
238
5,683

10,646
239
6,531

9,261
307
5,735

7,950
298
5,706

* 5, 723
336
5,555

18, 095
110, 694

17, 586
111, 582

17,987
114,981

16,624
108,536

17,376
108, 272

109, 709

21,157

19, 046

20,217

19,868 ] 22, 627

26,140

6,410

7, 332

7,034

7,363

7,190

6,287 ; - 2 . 3 +14.4

74, 520
278, 078
384,903
258,427

76, 540
319,464
375,748
254, 963

24,340
223,855
295,922
215,665

20,058
201,139
243, 364
205, 573

45, 026
219, 926
317, 346
192, 968

70,187 1+124. 5 -35.8
163, 973 i +9.3 +34.1
290, 613 +30.4
+9.2
177, 791 ! - 6 . 1 +8.5

23

None.

5,727

10, 204

None.

54, 010
35,128
3,642

44, 663
30, 665
4,480

45, 340
30, 387
3,651

40,958
29, 542
3,184

46,095 ! - 9 . 7 : - 1 1 . 1
24,638 i - 2 . 8 +19.9
5,760 ! - 1 2 . 8 -44.7

.047
.057
.064
131

.047
.056
.063
131

.046
.056
.062
129

.045
.057
.063
129

.051 I - 2 . 2 I - 1 1 . 8
.062 I! + 1 . 8
-8.1
.068 + 1 . 6
-7.4
136 I; 0
-5.1

151, 747
304,118
531,142

106, 974
261,815
344,693

86,425
244,852
212, 314

238,129
212,161
177,801

482,152 j+175.5 - 5 0 . 4
166,044 I - 1 3 . 4 +27.8
298,682 - 1 6 . 3 - 4 0 . 5

3,532
5.83

2,439
6.00

5,566 !

-18.8 .+398.4 jj

+62.4 ; +32.5 j|
+.2 ; +1.8 I

75,840

;

117,012 j | + 3 . 4 I - 1 2 . 1 1,733,503 I 1,894,550 ; + 9 . 3

9,638 ! + 3 1 . 1 j - 2 2 . 2
268 i - 2 9 . 8 : - 1 1 . 9
3,568
-12.2 ; +36.8
17,002 !!

2,659 !
62,038 !
it

208,663

3,326
65, 376

+25.1
+5.4

213, 033

+2.1
+4.4

+3.3 I) 1,274,357 1, 330,850
25,468 |; +15.5 ! +2.6 j 297,226 i 295, 629

106,156 I + 1 . 3

76, 233

+7.1

1,157,832 ! 1,201,213
4,129,500 | 3,675,702
5,175,129 I 4,882,351

-11.0
-5.7

71,173 |

Sugar

Coffee
Imports
.thous. of bags..
Visible supply:
World
thous. of bags..
United States
thous. of bags..
Receipts, total, Brazil
thous. of bags..
Clearances:
Total, Brazil, for world
thous. of bags..
Total, Brazil, for U. S
thous. of bags..
Price, Rio No. 7, Brazil grades,
N. Y
dolls, per l b . J
Tea

i

93,071
346, 818
457, 961
296, 012
34
I

68,432
37, 536
4,451

78,069
43,230
17,297
.045
.056
.066
133

.058
.064 :
131 \

208, 474
403, 719
783, 717

167,805
292,816
671,952

1,404

+3.7

62,173

976

1,099

1,144

1,148

907

4,622
547
1,405

4,917
634
1,838

5,050
686
1,714

5,041
768
1,372

4,862
782
1,216

4,605
1, 014
1,218

-3.6

1,334
712

1,583
862

1,510 '
813

1,441
876

1,237
687

1,241
666

-14.2
-21.6

.135

.147

.145

.142

.148

.153

+4.2

10,547

9,057

8,160

245, 505
.325

254,957
.325

222, 636
.345

413,532

466, 078

11,313 j

10,858

-4.0

15,621

+13.9

13,558
7,499

14, 872
7,984

+9. 7
+6. 5

95,931

19, 601

-3.3

9,687

-7.7
-12.9

13,715

+3.2

.139

4,258,418
4,064,126

4,611,846
4, 666, 393

-22.9
-.2

1,312
595

-6.2

111,764 +17.0

+5.6

-11.4

-71.5

809,900

95, 485

+ . 3 ; +26.6 S
'
|

667

4,716
825
1,504

17,708

863, 567

1,007 I

+1.8

-.3

|

Imports
thous. of lbs__
Stocks, United Kingdom, end of
month
thous. of lbs_.
Price, Formosa, fine New York...dolls, per lb._

9,467
146, 684
.345

164,368
.345

185, 921
.345

215,380
.329 i

-9.9 | -8.1

+3.9 ! +14.5
0

-5.8

TOBACCO
Consumption (tax-paid withdrawals):
Large cigars
thousands..
Small cigarettes...
thousands..
Manufac. tobacco and snuff..thous. of lbs_.
Exports:
Unmanufactured leaf
thous. of lbs..
Cigarettes
_
_
thousands..
Sales of loose-leaf, warehouses
thous. of lba__
Price, leaf, average warehouse sales,
Kentucky
dolls, per 1001bs__
Stocks (reported quarterly):
Chewing, smoking, snuff, and
export types
thous. oflbs._
Cigar types
thous. of lbs..
Total, incl. imported types..thous. of lbs..
2
Quarter ending in month




654,165 j 393,007
604,870
639,359
688,921
,328,055 8,994,416 8,552,397 , , 093, 752 6,870,462
35,337 i 34,673
33,992 i
31,553 i 26,685
27,817 i
365,448 I
66,810

38, 394
371,168
136,824

15.730 i

15.594

54,307
547,904 I
161, 702

47, 044
672, 015
162, 386
11.331

121,376,271
| 2 335,198
121,806,747

indicated.

9.812 !
_ .

3

8, 369, 087 269, 356
7,
33,002
33,005

+5.2 -11.3 6,588,928 j 6,571,375
+21.8 I +15.1 89, 447,114 197,176, 607
410,076
394,076
+23.7 ! - . 1

+8.6

- 1 0 . 6 ! -35.8

+5.8

47,644
364,467 i
116,822 !

42, 600
962, 574
135, 470

66, 337
761, 026
130, 006

+164.1 I +26.5
+16.0 I +4.2

20.220 :

23. 227

12. 356

478,768 i

+14.9 : +88.0

;U,519,935 I
2 300,543;
;21,920,652 |

9,495,334 j 7,091,909
780,616 ! 964,926

|n,416,412 jj + 1 0 . 4 : + 7 . 3
! 3 353, 973 j - 1 0 . 3 ! - 1 5 . 1
|31,841,645 II + 6 . 3 i + 4 . 3

Quarter ending December 31, 1926.

506,741

4

Revised.

-.3

-3.9

-25. 3
+23.6

41
TREND OF BUSINESS MOVEMENTS—Continued
Per ct.

1927
The cumulatives
shown
cember except where
Earlier data for items
be found on pages 24
ruary, 1928, " Survey

are through Deotherwise
noted.
shown here may
to 138 of the Feb"

I
Novem- December
ber

September

August

CUMULATIVE TOTAL | inFROM JANUARY 1 crease
THROUGH DECEM{
BER 31

PEE CENT INCREASE ( + ) OR
DECREASE (—)

1927

1928

Jan.,
1928,
from
Dec,
1927

January January

V

or deI crease

Jan.,
1928,
from
Jan.,
1927

1926

1927

TRANSPORTATION

(-)

cumu! lative
! 1927
| from
i 1926

River and Canal Cargo Traffic
Panama Canal:
Total cargo traffic
.thous. of long
In American vessels...thous. of long
In British vessels
.thous. of long
Sault Ste. Marie canals
thous. of short
New York State canals thous. of short
Cape Cod Canal
_
short
Suez Canal
thous. of metric
Welland Canal
short
St. Lawrence Canal
..short
Mississippi River, Qovt. barges
short
Ohio River, Pittsburgh, Pa., to
Wheeling, W. Va
short
Allegheny River
short
Monongahela River
_
.short

+5.8

2,372
-7.8
2,398
2,718
2,574
2,242
2,489
2,430
tons
1,019
1,257
-7.3
1,396
1,113
1,390
1,099
1,216
tons
594
714
743
698
-8.5
514
763
478
tons
10,791
11,231
6,898
11,721
1,169
None.
None. -100.0
tons
357
381
327
None.
None.
390
None.
tons
67,873
98,426
73,097
58,685
89,030 101,206
50,378 -25.7
tons
2,:
2,504
2,402
2,546
2,477
2,305
tons
53,883
None.
None. -100.0
tons .11,011,771 1,090,647 1,130,277 853,845
None.
None. -100.0
tons __ 1,128,517 il, 178,199 1,198,952 1 908,199 4 53,793
114, 541
122,300
103,000
89,610
19,396 104,923
114,063
tons
I
685,546 i 517,488
621,496 -24.5
tons 11,007,373 988,412 894,938 823,910
176,540
81,585
89,242 -53.8
tons ! 333,279 421,985 444,358 338,975
tons .|2,132,449 2,181, 251 2,132,076 2,020,004 1,965,934 2,327,246 1,935,879 +18.4

27,588
14,854
6,631
87, 676
2,370
781,322

-16.2
+46.0
0

+45.1

25,409

5,214, 514
6,123,701
1,044,649

29,104
+5.5
15,347
+3.3
6,983
+5.3
83,355
-4.9
2,582
+8.9
824,172
+5.5
29,598 +16.5
6, 570,459 +26. 0
7,909,952 |; +29.2
1,336,632 +28.0

-16.7 9,321,761 I 9,622,134
- 8 . 6 2,509,202 j 2,955.095
+20.2 24,469,315 ;24,492J96*

+3.2
+17.8
-.1

Ocean Traffic
Clearances, vessels in foreign trade:
Total...
thous. of net tons..
American
.thous. of net tons..
Foreign
thous. of net tons..

6,974
2,939
4,035

4

6,957
3, 261
3,697

5,296
2,057
3,239

5,163
1,865
3,298

5,153
1,818
3,335

31,510
23,303

9,290
3,364

26,657
22, 554

35,867
30,742

9,294
2,888

6,396
1,208

216

241

194

204

196
578
671
2,841

+.2
+2.6

313

224
4
836
693
3,119

< 7, 550 ! * 7, 232
4
2, 916
2,712
4
4,634
4,520

4

75,440
29,794
45,647

-4.6
+4.4
-9.6

228,069
162,882

359,356
277, 302

+57.6
+70.2

558
1,634
1,989
7,765

728
2,238
2, 672
11,604

+30.5
+37.0
+34.3
+49.4

- 8 . 2 1153,098,819 51, G8G, 5G1

-2.5
-9.3

+1.8

-2.7

79,043 I
28,532 i
50,510

-1.1

Shipbuilding
Completed during month:
24, 352
Total
gross tons..
21,145
Steel seagoing
gross tons__
Building or under contract, end of month:
I
Merchant vessels
thous. of gross tons..
216 I
World construction (quarterly):
Ships launched
number._ |
j
Tonnage
thous. of tons..|_.
...|
Ships under construction
number._ I
j
Tonnage
thous. of tons..!
!
Freight Cars

|

190 L
535 L663 L.
3,074 ..

-74.1 +45. 3
-90.6 +139.1

r

+17.
+14.0
+56.3 +44.6
+4.5 , +3.4
+1.5 ! +9.8

j
|

Surplus (daily av. last week of month):
j
j
Total
cars__! 214,985 I
Box
cars..' 123,901 |
Coal
cars..! 53,204 j
Shortage (daily av. last week of month):
I
j
Total
cars_J
151 |
Box
cars..; None, j
Coal
cars..!
147
Car loadings:
!
j
Total
cars..|4,249,359 •
Grain and grain products
cars.-! 219,898 j
Livestock
cars..! 112,323
Coal and coke
cars.-j 735,389
Forest products
cars..! 275,251
Ore
. . c a r s . i 248,462
Merchandise and 1. c. 1
cars..Il,042,893 il
Miscellaneous
cars.. 1,615,143 11

135,059 ! 168,829
74,126 | 82,411
34,805 I 61,455
371 J

464,005
224,247
183, 638

403. 792
182', 001
169,463

None.
None.
None.

25
None.
None.

4
3
None.

302

None, j
371 !

352,168
158,304
148,860

None.
103

360,022
238,699
123,354
760,522
270,322
225,581
039,460
702,084

259,548 - 1 2 . 0 ! +55.6
148, 742 - 1 8 . 9 I +22.4
- 7 . 7 +170.8 [
62, 588
-84.0 i - 9 7 . 6 !
| +50.0 !
0
-100.0 i

164
2
85

587,921 3,822,620 4,172,605 3,447, 723 '3,756,660
273,675 182,059 219,482
187,197 4 178,988
193,753 134,598 144,519
127, 658 4129,321
004,056 713,254 869,877
752, 752 4 939,677
336,527 244,210 259, 598 233,368 4 4257,374
243,550
31,737
76,267
40, 682
37, 845
348,614 1,015, 551 1,177, 774 927, 299 44 965,485
187,746 1,456, 681 1,460, 673 1,187, 712 l,247,970

-17.4

-14.7

2, 363,361 2, 384,080
+5.
— 11.7 ! - 1 . 3 1, 596,184 1,547,158
10, 615,178 9,787, 968
-13.5 -19.
-10.1
- 9 . 3 3, 654,399 3,420,182
- 2 2 . 0 - 1 6 . 1 2,179,141 1,881,617
-21.3
- 4 . 0 113,310,782 13,308,737
+18.7
- 4 . 8 119,379,774 |19,356,819

+.9

-3.1
-7.7
-6.4
-3.7
-.1
-.1

Railroad Operations
Operating revenue:
Freight
Passenger
Total operating
Operating expenses
Net operating income
Freight carried

j
thous. of dolls__j
thous. of dolls._ I
thous. of dolls._|
thous. of dolls.
thous. of dolls
mills, ton-miles__

415,179
91, 691
557,436
393,294
118,226
41,973

426,752
86,293
565,091
386,388
132,770
42,954

I 452,608
! 75,201
580,498
! 399,504
I 133,776
45, 552

385,760
70, 885
503,820
376,876
86,424
37, 228

61,305
2,606

61,088
2,602

8,778
14.4
195
345
8

357,840 ij
85,975 I

334,742
81,990
467, 598
377,800
55,334
34, 580

487,004
387,489

!

j
j

I
S

6 1 , 5 7 9 il39,223 1

i
1

j 4,819,321
! 1,043,911

6,463,433
! 4,727,278
. . . 1, 232,373
488, 704

4, 647,167
976,336
6,204,903
4, 625,444
1,084,140
474, 654

-3.5
-6.5
-4.0
-2.2
-12.0
-2.9

Railway Equipment
Locomotives (Am. Ry. Assn.):
Owned, end of month—
Q uantity
number.. 61, 540
61,455
Tractive power
mills, of lbs..
2,603
2,605
In bad order end of month—
8,345
8,502
Quantity
number..
Per cent of total in use
per cent..
13.9
13.6
Installed
number. _
104 j
177
Retired
number. _
329
262
20
6
New orders
number. _
Shipments, manufacturer's (census)—
127
81
Total
number..
71
86
Steam, domestic
number..
Electric, domestic
number. _
6
7
Unfilled orders (railroads'), end of mo.—
102
171
From manufacturers
number. _
In railroad shops
number..
36
32
Unfilled orders, manufacturers (census)—
271
363
Total. _
number..
Steam (domestic)
number..
244
167
68 !
49
Electric (domestic)
number..
Exports, steam
_.number..
11
8
2 Quarter ending in month indicated.




4

-0.2

60, 784
2, 595

179
60, 679 I
2,596

62,387
2,611

8,961
14.8
149
366
17

8,257
13.6
135
378
149

8,733
14.5
154
259
2

9,256
14.9
145
210
26

112
81
12

52
31
7

72
41
13

47
22
23

57 ! -34.7 j -17.5
16 !| -46.3 i +37.5
!
+76.9 1+187.5

53
27

51
18

151

262 ! +88. 7 i -42. 4
56 ! +69.2 -60.7

182
97
45
19
8

4

145
232
222
412
178
161
334
74
39
23
42
5
25
13
41
Quarter ending December 31, 1926.

- 2 . 7 :i

+0.1 - 0 . 6 I
+5.8 - 5 . 7 j|.
+6.6 - 2 . 7 ;|.
+14. l +6.2 ;|
+31.5 +23.3
-98.7 -92.3

-4.3
-9.6
-2.6
-48.0

i

1,955 ; - 1 8 . 5
3, 572
-. 1
656 I - 4 5 . 1

1,755
1,352
177

-46.1
-51. 8
+65.2
-68.3

2,399
3,574
1,195

1,074 ! - 3 8 . 8
726 i - 4 6 . 3
148 ! - 1 6 . 4

271
Revised.

228 !| - 1 5 . 9

42
TREND OF BUSINESS MOVEMENTS—Continued
j Per ct.

1927

The cumulatives shown are through December except where otherwise noted.
Earlier data for items shown here may
be found on pages 24 to 138*$pf the February, 1928, " Survey "

1928

CUMULATIVE TOTAL ! inFROM JANUARY 1 ; crease
THROUGH DECEMBER 31

1927

; (+)

Septem-

August

TRANSPORTATION-Continued

i

Railway Equipment—Continued

N o v e m - j December
j
ber

October

January

1926

1927

|

Electric locomotive shipments 1 (census, reported quarterly):
Mining..
number..
Industrial
.number..
Freight cars (Am. Ry. Assn.):
Owned, end of month—
Quantity....
cars... 2,328,328
Capacity
mills, of lbs.. 211,935
In bad order, end of month—
Quantity
cars..: 141,038
Per cent of total in use
.percent..
6.2
New orders
cars..
1,066
Shipments—
•
Total..
Domestic
Unfilled orders (railroads)—
Total
From manufacturers
In railroad s h o p s . .
Passenger cars:
New orders
Shipments—
Total
Domestic

cars..
cars..

!

cars..
cars.. 1
cars..
cars..
'
cars..
cars...

j

January

!

or de! crease
I (-)
cumui lative
1927
from
1926

!
j
|
!
!
j
J
»304
>
J3177
J
..-_.j
154
3
]
16
!
j
19
a 75
j
I
i .
'
I
i
i
12,326,016 2,325,027 *2,322,179 |<2,313,375 2,309,478 |2,336, 050
210,640 211,500
1 211,970 212,027 | i 211,985 j \ 210,923
I
j
136,115 136,847
137,571
139,441 ! 137,795 j 130,493
6. 0
5. 9
6.0
6.1!
6.1 j
5.8
2,098
17,196
j
40
326;
14 i 14,114
\
•
I
\
I

5,317 I
5,270
!
18,096 j
13,545!
4,541 j
i
36 i
|
152 |
146 •

4,397
4,393

19

4,320 !
4,101 |
!
10,901 !
6,991 1
3,910 !
!
18 !

201
201

119 !
119 I

199,336
29,089

50,101 i
12,862 i

34, 736
4,305

3, 925

14,437
10,799
3,638

j

3,780 i
3,754,
i
9,721 \
6,424 1
3,297:
:
12
!
166
164 i

2,545 !
2,536 j
I
12,431 !
9,341 j
3,090
150

774
576
18, 464
15,459
3,005

I! -13.0
|| +18.8
ji - 0 . 2
1 -0.1
1

+4.3
+3.4
-85.1

871 ;
70

-49.3
-74. 7

812
70

-6.8

56,289

58,959

+4.7

80,100
77,655 i

54,291 : -32.2
53,524
-31.1

-1.1
-0.4 |
-.5

+ 1.7
-87.

7 •

3,209 j! - 6 9 . 6 I - 7 5 . 9
3,160 || - 6 6 . 3 I - 8 1 . 8

27,069 jj + 4 8 . 6 • - 3 1 . 8 i
17,209 i + 6 5 . 5 - 1 0 . 2 :
9,860 ;! - 2 . 8 - 6 9 . 5

314 ||+310. 0

+95.9

1,321

1,195

-9.5

60 |l -55.2 +30.0
42 1 -60.9 +61.9
1

615

2,233
2,137

1,420
1,378

-36.4
-35.5

;
174
174

78
68

Passenger Travel
National parks:
Visitors
..number..
Automobiles entered
number..
Arrivals from abroad:
Immigrants
number..
United States citizens
number..
Departures abroad:
Emigrants
number..
United States citizens..
number..
Passports issued
_
number..
Pullman company operations:
Revenue
thous. of dolls..
Passengers carried
thousands..

492,016 I
98,449 !

50,591 !
6,679

51,972 ;
6,359 |

+87.8
+70.2

-2.7 1,774,552 ! 1,976,367 +11.4
+ 5 . 0 I 311,185 ; 373,495 +20.0

28,418 !
57,701 |

31,000 |
75,557

31,719 ;
50,254 j

27,758
24,325

22, 350
18,922

18,804 l16,913 i

336,295
378,175

323,885
412,485

6,322 I
43,039 !
10,269 I

7,625
39,748
8,474

6,402 I
24,396 i
8,063 i

5,871
22,612 i
8,596

9,085
25, 209
8,387

3,928 i
21,483 ;
9,053 I

73,179 !
367,739 ;
176,033 i

70,122
405,989
182,430

-3.7
+9.1
-4.2
+10.4
+3.6

7,528 ;
3,428 j

7,625
3,288

6,494 j
2,851

5,915
2,606

6,411
2,831

7,086 i
2,988 |

81,834!
36,073

80,952
35,198

-1.1
-2.4

+6.1

- 1.7

PUBLIC UTILITIES
Telephone companies:
Operating revenue
-.thous. of dolls..
65,758 i 66,529
65,233 | 65,193
i
_.i 64,140
Operating income
thous. of dolls..
14, 972 I 16, 322
16,445 i 16,006
j
j 16,517
Telegraph companies:
Commercial telegraph tolls.thous. of dolls..
11,241 j 11,172
10,979 I 10,238
.1 10,074
11,016
Operating revenue
thous. of dolls..
13,894 ! 13, 822
13,648 : 12,713
_[ 12,557
13,747 ;
Operating income
thous. of dolls.. 4 2, 000 j * 2, 085
4 2, 009 I 1,622
1,654 :
1,338
Gas and electric companies:
Gross earnings
_
thous. of dolls.. i 4162, 647 I i 169, 414 4 177, 734 4 182, 040 193,000
j
191,701
Net earnings
thous. of dolls..
53, 551 | 4 61,897 * 65, 260 4 70,134 : 78,000
74,377
Electric railways (212 companies):
-2.0
Passengers carried—
thous. of persons.. 745,769 ! 728, 371
790, 712 771,443 • 830,930 i 814,172 831,635
Average fare
.cents..
7.952 !
7. 952
7.985 [ 7.999 ': 8.018 j
7. 805
Electric power production:
Total
mills, of kw. hours..
-0.3
6,730
6, 684 ;! < 0. 607 4 6, 929 I 4 6, 874 4 7,218 !
7,197
By water power
mills, of kw. hours..
-0.6
2,404
< 2, 201
4 2, 386 ! 4 2, 508 : *2,736
2,354
2,720
By fuels....
.mills, of kw. hours..
4, 280 ; * 4, 406
-0. 1
4 4, 543 ; 4 4, 365 i 4 4,482
4,376
4,477
In street railways,
manfg. plants, etc mills, of kw. hours..
427
349 !
352 '
338
357
402
In central stations
mills, of kw. hours..
6,303
6, 335 ; 4 6 , 269
4 6, 577 i 4 6, 507
6,782 ;
Electric power production (Canada):
Total
thous. of kw. hours.. 41,229,089 141,197,023 41,399,170 n,311,211 1*1,361,864 ! 1, 317,736 *1,131,212 I - 3 . 2
By water power
thous. of kw. hours.. 41,213,531 '41,181,173 41,289,967 !|n,289,242 1*1,339,206 1,297,783 41,113,899 ! - 3 . 1
" ~"
~"~
By fuels
thous. of kw. hours.. i 15,558 I 15,850
19,203 ! 21,969 ; 22,658 1 19,953 I 4 17,313 ! - 1 1 . 9
Exported
thous. of kw. hours.. ; 157,197 I 154,047
142,991 I 129,415
130,552
' . . . . . | 130,894
Electric power, gross
revenue sales
thous. of dolls.. 135,600
144,900 j 150,800 ! 158,000
J 162,000

.
129,947
. | 160,466 i
. \ 21,185 i

. I 1,995, 259 ! 2,117,160
+6.1
. ! 715,081 i 774,788 +3.3
-2.1 i 9,513,483 ! 9,394,314 -1.3
+ 6 . 9 !!
+ 16.5 i
+2.3 '

4,577
69, 214

+16.5
+ 16.5
+15.2




2

Quarter ending in month indicated.

484
197
95
84
74
118.5
94.2
85.2

485
192
95
84
73
117.2
93.7
85.5

14,317 I
265.1 i
102 i
83 !
76 ;

14,195
262.4
102

95 I
115.6
107.4

84
* 117.9
* 107. 4

476
196
94
83
74
112.3 !
91.8
84.3
13,671
251.1
100

73
* 113. 3 ;
1
113. 2 I

467
205
93
81
75

|!
|j
i!
il
i!

112.0 i!
90.8 ii
81.2 I
13,830
248.8
103
83
81

I!
ii
ji
ii
'!

61 1
117.5 i
99.3 :I

457
224
91
80
75
111.6
88.9
80.6
13, 361
231.6
98
79
76

; Ii - 2 . 1
216
100
89
80
115.4
97.8

!
j
!

88.9 I
14,331 j
251.2
107 '
90 I

11,923,733
11,756,971
166,762
1,506,000

-6.0

+9.3

+3.7

-3.4
-6.9
-4.9
-4.8
-6.2

-6.8
-7.8
-8.4
-12.2
-8.4

-2.2
-1.2
0
-0.4
-2.1
7

-9.0
-9.0
-6.3
-3.3
-9.1
-9.3

62 !l -11.5 -12.9

54

115.8 I
94.5 I

!

116.8
109.6

' Quarter ending December 31, 1926.

-1.4
-4.8

+8.1
+12. 9
+5.4
4,423
-3.4
75,301 ! +8.8
|14,192,937 ! +19.0
|13,991,754
+19.0
j 201,183 ' +20.6
I 1,632,609
+8.4

73,791 i
26,188 :
47,603 :

E M P L O Y M E N T AND W A G E S
Employment in factories:
New York State
thousands..
474
Detroit
thousands. _
206
New Jersey
rel. to 1923..
Pennsylvania
rel. to 1923..
Delaware.
rel. to 1923..
71 !
Wisconsin
rel. to 1915..
121.7 !
Illinois
_
rel. to 1922..
94.4 I
Massachusetts
_
rel. to 1914.84.0 !
Total pay roll:
New York State (weekly)..thous. of dolls..- 13,898 !
Wisconsin
_
...rel. to 1915..'
278.7 !
New Jersey
rel. to 1923..
101 i
Pennsylvania
..rel. to 1923..
85 I
Delaware
.rel. to 1923..
75 i
Ohio construction
employment
rel. to 1923..'
96 j
Anthracite mines:
Employment
rel. to 1923-25.. 116.5 i
Pay roll
rel. to 1923-25..
90.6 I

127,501 - 1 . 9
158,286 - 1 . 4
21, 505
+1. 5

+ .6
-9.4

4 Revised

79,768
29, 575
50,193

43
TREND OF BUSINESS MOVEMENTS—Continued
1928

The cumulatives shown are through December except where otherwise noted.
Earlier data for items shown here may
be found on pages 24 to 138 of the February, 1928, " Survey "

November

August i n t e r n - j October

December

CUMULATIVE TOTAL
FROM JANUARY 1
THROUGH DECEMBER 31

PER CENT INCREASE ( + ) OR
DECREASE ( —)

1927

Jan.,
1928,
from
Dec,
1927

January i January

|Per ct.

(+)

or decrease

(-)

Jan.,
1928,
from
Jan.,
1927

1926

cumulative
1927
from
1926

1927

EMPLOYMENT AND WAGES-Contd.
Federal civilian employees, Washington, D. C , end of month
number..:
Average weekly earnings, factories:
Illinois
.dolls..
New York State
_
dolls..
Wisconsin
dolls..
Massachusetts
rel. to 1914 :
KQW Jersey
rel. to 1923..
Pennsylvania.
rel. to 1923..,
Delaware.
rel. to 1923..
Average weekly earnings National Industrial
Conference Board):
Grand total (both sexes)
_dollars..[
Total male
dollars._|
Skilled male
_..dollars..!
Unskilled male
dollars..!
Total women
dollars..|
Average weekly hours:
i
Nominal (both sexes)
hours..j
Actual (both sexes)
hours..!
Wages, road labor, by geographic
!
divisions:
j
New England
cents per hour..!
Middle Atlantic
.cents per hour..!
South Atlantic
cents per hour..!
East South Central
cents per hour_.|
West South Central.
cents per hour_.|
East North Central
cents per hour..;
West North Central
cents per hour..'
Mountain..
..cents per hour..!
Pacific
cents per hour. J
United States, average
cents per hour. J
Wage rates, U. S. Steel Corp...cents per hour..|
Wages, steel workers, Youngstown
j
district
per cent of base..I
Applicants per 100 jobs, employment agencies: j
United States
.number.-j
Eastern States
number..!
Central States
_
number..j
Southern States
_._number._|
Western States
.number..!
Factory Labor Turnover

60, 267 j

28.61
29.29
25.94
236.4
109
101
102

27.65
29.57
25.40
237.1
109
98
101

60, 236 j

60, 399

59,615 i

60,660 :

i

!
!
!
!
|
I
!

I
i
!
i
i

28.59 i
29.28 i
25.40
231.2 :
!
109
101
102 j

28.23
28.75
25.39
231.4
108
100
103

28.15
29.57
25.24
232.1
111
101
106

27.01
29.35
30.78
24.21
17.35

26.72
28.69
30.15
23.42
17.32

27.49
29.22
23.60
232.1

26.90
29.35
30.80
24.12
17.34

| -2.3 I -2.6 I
-1.0 !
! -1.2
-4.0 |
I -20.2
0
+1. 7 !
!
108
-1.8
+.9 h
-3.0
- 3 . 0 !;l
101
-2.0 \
102
-5.7

28.23
29. 52
24.58
228.3

109
98
100

!

27.16
29.76 !
31.33
24.08
17.26

27.32 i
29.70 :
31.18 |
24.29 i
17.32 |

49.5
47.8

49.5 !
47.8 i

49
47
27
26
28
38
37
46
54
39
50

46
26 :
25
33
40
38 :
46
54 .
40

i

!

;
'
;
l
!

so:

125.5
129
137
156
122
70

i
i
i
!

125.5
121
131
136
114
79

I
i
i
!

49.4
47.1

49.5
47.4

46
28
25
32
40
38
48
56
40
50 ;

48
46
26
25
30
40
37
47
53
40
50

125.5 ;

27.26
29.57
30.93
24.69
17.25

!l
I

'

jj

49.5
48.2

49.5
47.3
55 :
46:
24 !
24
32
42 '
37
46
54:
39
50

r

-3.6

44

53
48
24
25
26
39
37
41
50
37

48 i +4.3
24
0
24 , +4.2
27
-18.7
39
-7.1
38
0
43
-10.9
-7.4
51
37
-5.1

50 I

;j

+ 2 0 . 5 !'

50 !

+4.3 ! • — " . : . „ .
0
+4.2 •!
....
-3.7 1
0
_.
-2.6

ii

-._.

ii

-2.0 U
!

0

;

128.5

128.5

125.5 j

I
I
!
i

137
146
160
132
71

145
4
155
165
4
145

170
192
203
188
87

160
156
203
146

38.0 !
25.3 i

30.5
18.2
8.2
4.1
34.1

28.4
16.5
7.9
4.0
37.4

41.4
23.4
12.3
5.7
35.0

I +7.2
+10.7
+2.6
+2.6
+50.8

39,404
35, 237
22,080
13,157

-37.2
-37.0
-29.7
-47.1

+4.7
+6.3
+9.8
+.5

29, 647
2,223
16,117
1,484
7,956
370
4
2, 286
199
3,292
170
655
81
4
657
44
2,205
106

-62.5

+7.6 i
+9.4
+6.2 j
+7.2
+8.8
+17.8 ;
+3. 6 !
+11.1
+14.2 j
+7.6 !
+5.6 j
+12.3
+21.8 j
+25.0 1
+19. 0 !
+45.3 ;

ii

-31.4
-36.3
-35.8
-29.8

65,733 ; 41, 267
59,494 : 37,465
34,486
24, 240
25,008
13, 225

!

120
129
145
122
61

133.0 ! -2.3

-5.6

! +17.2
! +23.9
| +23.0
; +29.7

+6.3
+23.1

+8.8

0

+28.8 !
+11.5

j

(Percentage of number on pay roll)

60,413 |

j

Departures:
Total a
Voluntary quits,
Lay offs
Discharges..
Accessions

\
_ per cent (annual basis).. i
.per cent (annual basis)-J
per cent (annual basis)..!
.per cent (annual basis) — !
percent (annual basis)~|

DISTRIBUTION MOVEMENT

4.9 i
41.7 I

5i.3;
38.0 !
6.0 :
7.3
52.6 :

7.7 •

5.0 j
38.3

26.5 j
14.9
7.7
3.9
24.8 :

+6.9

I

Retail Sales

li
40.7 !
27.2 '

i

Mail-order nouses:
\
Total sales, 4 houses
thous. of dolls..
41,406 I 46,218 | 57,776 i 58,368
Total sales, 2 houses
thous. of dolls..
37,795 | 40,987 ! 50,869 ! 51, 229
Sears, Roebuck & Co
thous. of dolls..
23,970 i 24,609 ! 29,302 ! 29,847
Montgomery Ward & Co..thous. of dolls..
13,825 I 16,378 j 21,567 I 21,382
Ten-cent chain stores:
Total sales (4 chains)
thous. of dolls..
39,539 ' 38,738 ! 46,498 ! 44, 254
Total stores operated (4 chains)..number..
2,349
2,371 ! 2,396 ! 2,415
F. W. Woolworth & Co
thous. of dolls..
21,400
20,740 ! 26,032 ; 23, 731
Stores operated..
number..
1,552
1,584 * 1, 588
'
1,568
S. S. Kresge C o . . .
___thous. of dolls..
10, 522
10,422 j 12,084 j 12, 011
Stores operated
number.. 4 409
413 j 4 419 | 4 427
4
MeCrory Stores Corp
-thous. of dolls..
3, 037
3, 022 I 3, 332 ! 3, 236
Stores operated
number..
214
219
215 ;
217;
S. H. Kress & Co
thous. of dolls..
4,564
5,272
4,556 i 5,069
Stores operated
...number..
174
181
175 !
176
Metropolitan..
thous. of dolls..
965
1,090
978 ! 1,120
Stores operated
number..
90
91
90
90
4
4
4
F. & W. Grand
thous. of dolls..
947
1,140
1, 005 ! 1,223
Stores operated
number
54
55
55 !
55
4
W. T. Grant C o . .
..thous. of dolls..
3,114
4,366
3, 279 I 4, 275
4
4
Stores operated
.number..
* 126
145
'130 !
135
Chain stores:
Groceries—
4
Sales
thous. of dolls.. 107,234 | 107, 653 j 119,443
118,335 j
Stores operated
number...
28,323 I
27,985 I 28,051 I 4 28, 206
DrugSales.
thous. of dolls..
8,439
8,243 ! 9,149 ! 8,725 i
Stores operated
number..
792 |
797 I
747
762 j
Cigar—
I
Sales
thous. of dolls..
8,707 I 8,678 ' 9,099 j 8,653!
Stores operated
...number..
3,459
3,451 | 3 , 4 4 9 •
3,453
Shoe—
Sales
thous. of dolls..
3,076 | 3,278 ; 3,673 ! 3,615
Stores operated
number..
614 !
618
606 I
* Revised.




84,977 ! 31,901
2,427
2,431
43,897
17,114
1,588
1,591
23, 044
8, 658
435
436
4
6, 857
2,369
221
221
11,182
3, 760
183
183
2,349
692
91
91
2,267
800
55
55
8,205
2,624
151
154
126,282
28,494

117,355

-65.5
0
-66.4
0
-70.5
0
-64.7
0
-68.0

+2.0
-.8

7,422
3,463 I
2,603
618

541,326 !
471,964 I
272,700
199,264

559,993 +3.4
495,304
+4.9
292,901 !| +7.4
202,403 j| +1.6

457,336

503,827

253, 642

272, 746

119, 218

133,767

+10. 2
+7.5
+ 13.0

33, 606

38, 336 • + 1 4 . 1

51,870

58,061 i +11.9

11,006

12, 273 ! +11.5

10,496

12, 882

+22. 7

35,935

43, 323

+20. 6

+20. 5 | 1, 067, 790
+6.2

1,311,371

!

837

5,467
621

+.2
+.2
-62.4
+.2
-61.0

97,405 i - 7 . 1
26,608 'j

10,922
12,766
3,463

4

i!
||
!
h

8,195 ji - 1 8 . 1 +9.2
741 ! +1.1 +13.0 !
|l
-6.8 !
7,963 il -41.9 +1.5 !
3,411 :j o
;
2,486 jl -52.4 +4.7
+7.3 ;
576 II - . 5

92,148
109, 517
41,419

1

+22.8

103,861 ; +12.7
109, 699

:

+.2

42, 018 , + 1 - 4

44
TREND OF BUSINESS MOVEMENTS—Continued
I'Per ct.

1928

1927

The cumulatives shown are through December except where otherwise noted.
Earlier data for items shown here may
be found on pages 24 to 138 of the February, 1928, " Survey "

October

August i Septem! ber

December

November

1927

CUMULATIVE TOTAL
inFROM JANUARY 1 crease
THROUGH DECEM- •i (+)
BER 31
or de-

; PER CENT INCREASE ( + ) OR
DECREASE (—)

i crease
(-)
cumulative
1927
from
1926

Jan.,
1928,
from
Dec,
1927

Jan.,
1928,
from
Jan.,
1927

1926

1927

-45.3
0

+2.5

13 927

11, 893 . -14 6
.

2 163 -39.2
243 - 3 . 0

+5.4
+7.4

31,332

32, 717

January January

DISTRIBUTION MOVEMENT—Contd.
Retail Sales—Continued
Chain stores—Continued.
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..
J. R. Thompson Co., sales.thous. of dolls..
Waldorf System (Inc.),
sales
thous. of dolls..
Other chain stores:
Isaac Silver & Bros
...thous. of dolls..
Stores operated.
number..
Hartman Corporation
thous. of dolls..
Stores operated
number..
J. C. Penny Co
thous. of dolls..
Stores operated
number..
United Cigar Stores Co
thous. of dolls..
Stores operated
number..
A. Schulte (Inc.)
thous. of dolls..
S tores operated
number..
G. C. Murphy Co
thous. of dolls..
Stores operated
number..
Installment sales in New England department
stores:
Ratio to total sales
per cent..

890 !
62 !

1,136
62

1,159
61

1,161
61

1, 595
61

873

2,523 |
277 i
i
4,863 I
364 |
13,360 I
2,463 !
1,183

2,713
280

2,830
267

2,857
257

3,749
269

2,279 ;
261

1,217 j

394 I
4

1. 706

17
11,007 I
854 i
6,447
3,143
2,225
297
736
107

4,844
4,893
366 ,
366
13,235 i 13,369
2,378
2,437 !
1,161 ! 1, 224
1,246 i

1,291

4

430 i
509
^ 20 !
^ 20
4
1,919 i 4 1, 478
4
18
18
13, 735
17,165
883
889
6, 473
6,822 :
3,139
3,143
2,164
2,231
297
297
771
875
108
111

4, 699
367
12, 804
2,275
1,185

5, 082
370
12,735 ;
2,490
1,262

1,239

1,065
19
1.505
19
21,796
891
9,475
3,151
3,233
299
2, 064
113

7.0

0

R 029
2,346
1,235

-5.8
-2.1

4

7, ill
913
5,562
3, 151
1,826
300
598
113

28, 803
14, 349 ;
•

-3 7
— 2

15,263 !

i
l
-70.7
0

281
4
22
842
4
16
6, 331
4
800
5, 723
3,109
2,204
294
551
92

3.9

4

58, 112

29,920
14,383

+.8 I

1,267 :
312
19

+4 4
:

59, 566

361
13 Q31
2 537
1,225

1,330

513
4
19
1,312
19
17,054
890
6,534
3,148
2, 076
298
865
115

852
61

61

14,960 \

-2.0

4,762 !

+11.0
-13.6

~I8~777~;
-64.6 +22.0
+2.5 +14.1
-41.3
-2.8
0 ; +1.4
-43.5 -17.2

5,610 I- +17.8
17,~661~; ~~-5.~9

.!
;:
;i
J
!

115,681 !
|
80,245!
i
28,748 !

151,060

-71.0
0

+8.5 i
+22.8 'I

8,55:-!.

+20.2
—10.2

-1.5
—2.1

+.3 ! +2.0 !i

+30.0

80,179

-. 1

29,040

-4-1.0

10,234

+19.7

.

'____

10.5

Advertising
Magazine advertising for the following
month
thous. of lines.,
Newspaper advertising
thous. of lines..
National advertising in newspapers:
Total
thous. of lines.,
Automobiles
thous. of lines.,
Automobile accessories
thous. of lines..
Cigars, cigarettes, and
tobacco
.
thous. of lines.,
Financial
thous. of lines..
Food, groceries, beverages..thous. of lines.,
Hotels and resorts
thous. of lines.,
Household furniture
thous. of lines.,
Men'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 lines.
Miscellaneous
thous. of lines.

2,128 i
2,542 I 2,599
82,865
100,737 j 115, 472
22,704 i
5,161
1,572

26,250 i
30, 257
5,323 ;
5,144
1,597 i
1,103

2,289
108,671

1,811
106, 430

28,861 :
4,544
1,570

9. 637
3,679
940

2,176
95,545

4

2.107
841
1 8 ( ?1
' 362

601
3,325 ;
344
262
99
59 '
548 !
1,701
30

3,198 i
649 !
3,203 !
230 :
819 j
438 i
131 :
1,840 :
1,293 I
190 |

3, 507
917
3,766
246
840
439
178
3,019
1, 252
174

3,891
842
3,679
228
341
340
205
2, 658
1,674
1S1

3,087
42
2,497

3,895
129 ;
3,315 '

5, 860
351 |
3,461 !

5, 566
168
2,974

2,169

32,799 ;

40, 823

.. .- .i

2,210
97,610

5
5 4, 031
3, 987
1,271,864 : 1,217,704

320, 555
65, 020
17, 448 ;

22, 953
5, 352 1 028
257
905
2 23°
315
148
26
184
1,370
1 ?75
i io

206
270
2, 052
1 510
19O
3. 216

- ..

.

33,044
10.218
42,374
5,346
6,567
3; 53i
1,750
17,551 :
20,658
1, GSO

60, 743 i
1, 768 !
41,880 !

--

5,312
31 . .
3,395

323, 005
f»2, 393
-4! 6
18, 418 , +5. 6

25, 421 •
10,218 '
41,218 \
5,144 i
6, 911 !
3, 594 1
2,364
15, 541
21, 349 !
1,936 !

]

-1.3
-J.I

57,562
1,667
39,646 !

+30.0
0
+2.8
+3.9
-5.0
-1.8
-26.0
+ 12.9
-3.2
-13.2
-5.2
— 5. 7
-5.3

Postal Business
Postal receipts, 50 selected
cities
.thous. of dolls..
Postal receipts, 50 industrial
cities
thous. of dolls..
Money orders:
Domestic paid (50 cities)—
Quantity
number..
Value
thous. of dolls..
Domestic issued (50 cities)—
Quantity
number..
Value..

thous. of dolls..

28,478

30,152 ;

32, 450

3,197

3,291

3, 395

10,120
82, 538

10,167
84,383

3,162 >
33, 234

2,994 ;
31,667 i

3,331 :

30,579

30, 394 \ -25.1

3,438 j

11,659
76,574

11,954 : 1 3 , 5 1 6
97,863 : 1 0 2 , 2 5 9

10,468
78,220 I

10,576 ! -22.6
80,473 | -23. 5

3,363
35,147

3,381 ;
34,860

3,416
34,117

3,303
34,001

3, 759
37, 452

i
j

3,317

!

4, 448

-22.7

-9.1
-8.9 j

+.6 11 367,258
+3.6 •
!

-1.0
-2.8

+3.4
+.3

37fi, 039

39,290 i

132,099 i 133,433
1,047,647 | 1,037,883 |
38,101 !
296,116 ;

+2. 4

40,312 : +2.6

39,508 i
408,719 j

+ 1.0
-.9
1-3.7
f-3.2

BANKING AND FINANCE
Life Insurance
{Association of Life Insurance Presidents)
Policies, new (45 companies):
211,482
Ordinary
number of policies.. 781,361
Industrial
...number of policies..
138
Group
number of contracts._ 992,981 ;
Total
number of policies and contracts..
Policies and certificates issued:
1,023,331
Total policies and certificates
number..
30,488
Group insurance certificates._.certificates..
Amount of new insurance (45 companies):
625, 510
Ordinary
thous. of dolls.. 211,157
Industrial
thous. of dolls..
43, 977
Group
thous. of dolls.. 880,644 :
Total insurance
thous. of dolls..
4
Revised.




! 256,546
183,511
! 783,539 , 901,786
!
491 !;
125
11,040, 576 1,085,422

j 187,460 | - 2 8 . 5 - 2 . 1
! 679,290 ! +15.1 +32.8
j
192 ! -74.5
i 866,942: + 4 . 3 +25.2

945,250 1,228,861 1,172,404 1,164,208 1,111,705
26,408
13,496 ! 23,797
27, 928 I 124,123

918,717 : -4.5 +21.0
51,967 ; -78.7 -49.2

526,564 ! 615, 753
200,622 i 265, 974
31,475 : 48, 625
758,661 ! 930, 352

576,642 i -20.8
185,292 +12.0
94, 445 -71.6
856,379 -22.1

186,090
745,664
115
931,869

! 212,924
203.629
940,847
I 992,140
208
|
148
jl, 205, 2121,144,684

582,000 j 725,847
252,738 ! 211,076
76,960 ! 165,025
911,698 1,101,948 •
5

575,127
236,303
46,841
858, 271

Cumulative through February 29

i
2,637,142 ! 2.642,742 :
+.2
9,386,964 9,884,401 : +5.3
2,351 !
2,369
+.8
12,026,457 ,12,529,512
+4.2

12,776,386 13,628,135
752,280 ; 500,992

7,804,415
2,566,059
1,050,605
+ . 2 '11,421,079

+27.5
-50.4

+6.7
-33.4

! 7,804,406 I
0
; 2,667,333
+3.9
j 824,372 -21.5
11,296,111 ' -1.1

45
TREND OF BUSINESS MOVEMENTS—Continued
1927

The cumulatives shown are through December except where otherwise noted.
Earlier data for items shown here may
be found on pages 24 to 138 of the February, 1928, " Survey "

1927

1928

August

September

October

November

December

!
|
January i January
!
i

137, 510
49,220
5, 327
192,057

131,763
45,741
4,317
181, 821

140,041
49, 272
5,792
195,105

145, 581
48, 273
4,862
198, 716

168,114

135, 395

6, 448
264,488 i

188,380

-11,172

11, 268

11,381

11, 484

4,898
1,622
3,276

4,941
1,620
3,321

4,982
1,621
3,361

5,019 i
1,620 I
3,399 |

4,192
923
2, 242
876

4,216
919
2,259
887

4, 262
928
2,268
911

1,338

I Jan.,
|| 1928,
t from
Dec,
II 1927

CUMULATIVE TOTAL
FROM JANUARY 1
THROUGH DECEMBER 31

Per ct.
increase
or decrease

4,323
940
2,287
942

1,327

PER CENT INCREASE ( + ) OR
DECREASE ( —)

1,347

Jan.,
1928,
from
Jan.,
1927

1926

1927

j cumu
lative
1927
from
1926

BANKING AND FINANCE—Continued
Life Insurance—Continued
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 l o a n s Total
mills, of dolls..
Farm
mills, of dolls..
All other
mills, of dolls..
Bonds and stocks (book value)—
Total
mills, of dolls..
Government..
...mills, of dolls..
Railroad
mills, of dolls..
Public-utility
mills, of dolls..
Policy loans and premium
notes
mills, of dolls..
(Life Insurance Sales Research

1,570,579 j 1,740,316
537,302
602,264
58,712
65,045
2,160,593 2,407,625

+10.8
+ 12.1
+10.8
+ 11.1

10, 529
i
•
;

'
!
;

4,58'
1,592
2,995

Bureau)

Sales of ordinary life insurance (81 companies):
United States total
thous. of dolls..
Eastern manuf. dist
thous. of dolls..
Western manuf. dist
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. _
Banking
Check payments:
New York City
mills, of dolls..
Outside New York City.-..mills, of dolls..
Canada
mills, of dolls..
Federal reserve banks:
Bills discounted.
mills, of dolls..
Notes in circulation
mills, of dolls..
Total investments
mills, of dolls._
Total reserve
mills, of dolls.-!
Total deposits
mills, of dolls..
Reserve ratio
per cent..
Federal reserve members banks:
Total loans and discounts...mills, of dolls..
Total investments
..mills, of dolls..
Net demand deposits
mills, of dolls. .
Brokers' loans, end of month:
To New York Stock
Exchange members
..mills, of dolls..
By New York F. R. member
banks
_
.,mills, of dolls..
Interest rates:
New York call loans
...per cent..
Commercial paper 4-6 mos
..per cent..
N. Y. Fed. Res. Bank
per cent..
Federal land banks
per cent. _
Intermediate credit banks
per cent..

60,913
35, 302

31,653
22, 054
1,474

33, 369
23,387
1,583
430
1,706
737
3,126
2,390
76.3

14,697
5,927
13, 349

14,942
6,042
13,230

609, 228
261, 893
130, 338
90, 662
,847
57, 483
47, 569

601, 985
257, 734
133, 912
86,167
66,112
58,060

34,091
25,117
1,849

401
1,676
658
3,146
2,341
78.3

833, 944
316, 931
188, 770
131, 530
113,184
83, 529

659,375
257, 543
148, 380
103,663
82, 706
67,083
48,104

» 681,654
261, 413
• 154, 708
• 103,638
86, 549
« 75, 346
38,360

606,760
237,184
138, 441
93, 224

3,674

3,915

3.81
<3.87
3.50
* 5.17
4.50

4.03 j
< 3. 97
3.50
* 5.17
4.50

423
1,577
812
2,971
2,452
73.7

+23.5
-2.7

339,056 !
269,115 i
16,970 j

391,557
282,346
19,703

365
1,
607
3,133
2,245
79.6

3,372 !

3.65
4 3.90
3.50
*5.17
4.50

609
1,813
990
2,862
2,473
66.8

3,946 |

3,306

59
3, 358, 503
1, 829, 684
1, 322,084
1,057, 591
840, 897
471, 649

- 2 . 7 I +21.2
- 5 . 7 | +6. 6
19. 0 +28. 7

477
379 |
1, 717 | 1, 717
903
862 I
3,067 | 2,940
2,404 ! 2,413
71.2
74.4 |
!
15,029
6,065
13,464

3,184

-26.9
-17.
-31.0
-31.1
-39.2

- . 3 I +40.8
+2. 6 ! +39. 7
3.75
4 3.92
3.50
< 5.17
4.50

4.35
3. 88
3.50
5.15
4.50

Savings Deposits
New York State savings
banks, end of month

mills, of dolls..

4,033

4,083

Public Finances
Government debt, gross
Customs receipts
Total ordinary receipts
Expenditures chargeable to
ordinary receipts
Money in circulation:
Total
Per capita

mills, of dolls..| 18,380
-thous. of dolls..
52,982
thous. of dolls.. 202,182
thous. of dolls..

259,181

mills, of dolls..
dollars..

4,750
40.54

18,478
54,410
590,192

i 18,369 I 18,174 |
18,036
56,617
47,660 ! 43,113
221,205
149,683
652,708

287,442

413,220

4,850 !
41.35 |

18,050 i 19,170
41,975 I 44,695
168,840
169, 583

- 6 . 1 | i 605,627 J 591,946
- . 4 !| 4,084,591 | 4,087,815
- 1 . 4 i +14.8 i 3,614,142 j 3,604,775

4,844
41.25

Business Failures
Liabilities (United States):
Total commercial
...thous. of dolls..
39,196
32,786
Manufacturing
14,921
15,349
establishments
thous. of dolls..
14,702
12,052
Trade establishments, .thous. of dolls..
9,573
Agents and brokers
thous. of dolls..
5,385
Banks (quarterly)
thous. of dolls_.
2 20,857
Liabilities (Canada)
thous. of dolls._ " I , " 687"
1,490
Firms (United States):
1,708
1, 573
Total commercial-.
number. _
Manufacturing
438
389
establishments
number. _
Trade establishments
number..
1,174
1,083 I
101 !
Agents and brokers
number..
2 55
Banks (quarterly)...
.number..
143
Firms (Canada)
number..
147
2 Quarter ending in month indicated.




36,236 I

36,147

17,134
14,657 !
4,445 I

158,031
201,344
49,858
212,075
28,423

2,157

211,506
228,194
90,405
143,449
26,091

+33.8
+13. 3
+81.3
-32.4
-8.2

5,395
15,266
1,112
608
2,106

19,996
24, 530
6,764
82,221
2,954

5,682
16,082
1,382
398
2,016

+5.3
+5.3
+24.3

1,787 |
488
1,170
129

478
1, 276
110

173

162

3 Quarter ending December 31, 1926.

4

Revised.

-34.5
-4.3

46
TREND OF BUSINESS MOVEMENTS—Continued

1927

The cumulatives shown are through December except where otherwise noted.
Earlier data for items shown here may
be found on pages 24 to 138 of the February, 1928, " Survey "
August

September

1927

1928

CUMULATIVE TOTAL
FROM JANUARY 1
THROUGH DECEMBER 31

; PER CENT IN| CREASE ( + ) OR
| DECREASE ( —)

Jan.,
1928,
from
Dec,
1927

October j November

Jan.,
1928,
from
Jan.,
1927

1926

1927

Per ct
increase
or decrease
cumulative
1927
from
1926

BANKING AND FINANCE-Continued
Dividend and Interest Payments
(For the following month)
i
;
Grand total..
thous. of dolls __; 326,325 489, 725
Interest payments..
thous. of dolls ._• 250,100 I 369, 850
Dividend payments:
119,875
76,225
Total
thous. of dolls.. .
70, 250
Industrial and misc
thous. of dolls.—' 49,375
28, 375
19,750
Steam railroads
thous. of dolls.__
12, 250
7,100
Street railways
thous. of dolls
Aver, payments on industrial
2
8 87
stocks (qtly.)
dolls, per share

321, 800
227,100

490, 675
331,175

750,200 [! 333,000 * 307,450 ! I - 5 5 . 6
460,600 ji 176,000
155,000 | -61.8

+8.3
+13.4

«985,200 5 1.083,200
5 555,950 i 630, 600

94, 700
48,800
33, 500
12,400

159, 500
119,700
24, 050
15, 750

289, 600
179,800
33,800
21, 000

+3.0
+1.4
+4.6
+18.5

5 419, 250 • s 446, 600
5 277,900 « 294,100
« 62, 550
« 66,900
» 27, 300
* 30, 600

157,000 « 152,450 -45. 8
114, 300 < 112,700 -36.4
31,650 i - 2 . 1
33,100
8,100 - 5 4 . 3
9,600

2 8.57

3 7. 90

- 3 . 4 • +8.5

52,383
610,035
588,591 ! 408, 545 507,503
263.472 j; 165,028
102,532
273,591 ! 138,545
'
108,511
578.473 I '•435,028 501,524
73,686 ! 78,222 .
.
9,346
517,412 I 210,155
309,084
54,938 | 118,902
106,350
42,000 |
2,200
68, 588
58,225 I 78, 741
74, 381
105,803 j 74, 331
40, 286

i +18.2 I +52.4
| -32.7 j - 6 . 0
-30.6 '. - 1 9 . 5
-37.4 | +61.0
-49.4 ! +27.7
-24.8 ! -13.3
+6.2 1+937.0
-59.4 i -32.0
+116.4 +11.8
: -94.8
+35.2
+5.9
- 2 9 . 7 +84.5

+14.5
+6.5
+5.8
+7.0
+12.1

New Security Issues
Foreign governments
thous.
Total corporation
thous.
Purpose of i s s u e New capital
thous.
Refunding
thous.
Kinds of issue—
Stocks
thous.
Bonds and notes
thous.
Class of i n d u s t r y Railroads
thous.
Public utilities
thous.
Industrials
thous.
Oil..
...thous.
Land and buildings
thous.
Shipping and misc
thous.
Bond issues (Canada):
Govt. and provincial
thous.
Municipal
thous.
Corporation...
thous.
Tax-exempt securities:
Total outstanding, end of
month...
mills,
States and municipalities:
Permanent loans.
thous.
Temporary loans
.thous.
New incorporations
thous.

of dolls.
of dolls.

31, 281
451, 364

125,623 I 35,800
734,081 | 617,554

372, 585
78, 779
109, 576
341, 788

574,380
159,701

403, 365
214,190

134,568
599, 513

121,198
496, 356

32,550
311,832
113,368
42,000
73,729
160,603

! 16, 796
252,482
! 180, 038
8,200
! 42,730
; 117,309

of dolls.
of dolls.

81,000
444,278
277,832
166,446

of dolls.
of dolls.

153,887
290,391

of
of
of
of
of
of

19,493 I
183,764
109,821 200,174 |
82,659 I
65,392
25,000
38, 292 ~~45~ 602"
22,009
93,437

dolls.
dolls.
dolls.
dolls.
dolls.
dolls.

of dolls..
of dolls..
of dolls..

904
6,625

of dolls..

15, 850

15, 952

60, 382
325,193

118,311
73,088
431, 293

of dolls..
of dolls..
of dolls..

18, 370
9,788
52, 973

67,547 j; 79,808
852,064 j 573, 573
i

24,045 j 58,540 : 2,500 |
11,340 i
10, 532
3,828
5,858
74,936 i 24, 260
16, 060 \
124, 759
69, 561
243,998

i

16,142
105,185
26, 635
225,803

4,000
415
9,396

16,170 j
107, 904
12, 533
235, 021

!

35,611 +60.0 | - 8 8 . 8
13,998 | - 9 6 . 3 I - 9 7 . 0
7,494 j| +60.4 j +25.4

158,421
77,481
303,002

-11.4
+23. 2
+14.0

174,675 j - 9 . 0 ' - 4 3 . 8 ! 1,362,039 1,470,566
30,476:1
...j
| %| 661, 212 I 1593, 218
739,730 1
..1
110,947,210 4,603,704

+8.0
-10.3
-57.9

15,311 !
•8,184

514,124
777, 120 +51. 2
5,299,550 : 7,301,398
+37.8
4,357,003 5,373.210
+23.3
942,552 1, 92S, 188 +104. 6
1, 317, 773 1,757,002
+33.4
3,982, 785 5, 543, 618
+39. 2
422,583
962, 807 +127. 8
1,974,450 ; 2. 986, 503 +51.3
1, 067, 250 ; 1,174, 984 +10.1
499,717
425, 338 -14.9
-9.2
736,168
668, 692
556,175 1,010, 376 +81.7
178,760
62,909
265,757

j

|

Agricultural Finances
Loans outstanding, end mo.:
Federal farm loan b a n k s . . . t h o u s .
Joint-stock land banks
thous.
Federal intermediate credit
banks
_.
..thous.
War Finance Corporation..thous.

of dolls.. 1,139,502 ,1,143,130 1,147,135 |1,150, 943 1,155, 644 j 1,158, 717 1, 085,170
of dolls.. 609,891 609, 535 610,050 ! 607,891 607,477 j
18, 798
639, 651
of dolls..
of dolls..

64,408
4, 569

62,879
4,285

66, 885
4,080

71,815
1,800

75,915 |i
1,362 |i

+0.3 ; +6.8
+0.2
-4.8

74,888
1,244

93,013
7,310

-1.4 -19.5
- 8 . 7 , -83.0

242. 25
118. 29
142.13

175. 39
101.55
115.29

- . 1 : +38.1 !.
- 1 . 2 : +16.5 '_
- 1 . 5 | +23.3 |_

112.25

109.72

195.2
158.2
210.4
369.8
582.3
150.5
430.6

153.5
136.9
160.2
266.6
417.0
116.0
310.2

+.3 i +27.2
- 1 . 5 +15.6 !
+.8 ! +31.3
+.9 +63. 2 j
- 3 . 1 +39. 6 I
+29. 7 !
- .3 +38.8

122.3
107.4
231.6
159.1
46.6
178. 6
64.6
220. 5
294.8

94.1
110.5
176.3
123.6
41.5
167.5
47.0
167. 8
218.6

+3.8
+.9
+6.0

Stocks and Bonds
Stock prices, average daily closing:
242.66 1 233.36
237. 84
242.50 I
25 industrials, average
„
dolls,. p e r s h a r e . .
229.99
117.84
120. 04
119.68 I
i l d
ll
25 railroads, average
dolls, per share..
117.42 ; 119.95
144.26 i
140. 67
130.15
142. 63
103 stocks, average.
dolls, per share..
141.17
Southern cotton mill
111.05
109.85 | 111.31
111.94
112.36
stocks
..dolls, per share..
Stock prices, average weekly closing:
187.7!
189.4
194.6 !
179.3.
186.1
Total stocks (229)
..rel. to 1917-21..
157.1 I
158.6
160.6 !
156.0
157.6
Railroads (31)
.rel. to 1917-21..
200.4
202.1
208.7 i
189.0:
197.6
Industrials (198)
rel. to 1917-21..
354.5
353. 5
366.5 !
318.5
355.8
Automobile (10)
rel. to 1917-21..
585.1
598.4
534.2
573.6
601.0 !
Chain stores (11)
.rel. to 1917-21..
127.4 j
136. 3
121.8
128.0
150.5 |
Copper (11)..
_rel. to 1917-21..
392. 2 j
406.6
389.1
371.3
432.1 j
Food (9)
rel. to 1917-21..
Machinery manufactur111. 5
117.8 !
106.2 1 110.0 |
109.6
ing (5)
rel. to 1917-21..
105. 3 i
104.0
107.5 .
106.4 !
105.3 1
Petroleum (17)
.rel. to 1917-21..
212. 5
203.8
207.9
218.4 '
216.1 i
Railroad equipment (10)
rel. to 1917-21..
150.5^
153.1
152.0
159.3 !
165.8
Steel (9)..
.rel. to 1917-21..
44.8
43.6 1
43.9
45.1
44.4
Textile (5)
_
.rel. to 1917-21..
169.9
166.6 ;
173.4
174. 1
178.7 i
Theater (3)_.
rel. to 1917-21..
50. 6
57. 6
55. 4
55.8
62.1 I
Tire and rubber (7)
rel. to 1917-21..
199.6
205.9
208.7
226. 7
225.5
Tobacco (7)
...rel. to 1917-21..
254.1
267.2;
267.2
274.6
283.9
Tractioii, gas and power(16).rel. to 1917-21..
Stock sales:
51,057 ; 51,918 \ 40,459
N. Y. Stock Exchange
thous. of shares..
51,356 ; 62,367 i
Bond sales:
I
!
Miscellaneous
thous. of dolls. _! 290, 948 254,987 ! 258,112 261, 540 267,918 |
Liberty-Treasury.__
thous. of dolls..j 13,070
24, 326
23,916 i
13,187
20, 205
Total
thous. of dolls..I 304,018 279,313 '•
271, 299 281, 745 291,834 |
2
8
Quarter ending in month indicated.
Quarter ending December 31, 1926.




56,963
269, 374
20, 864
290, 238

34,757 j

326, 065
25, 349
351,414
* Revised.

-.1 ! +2.3 j.

+30.0 !
-2.8 !
+31.4 j
-j
+28.7 I
+s!o +12. 3 !
+6.6
+37.4
- 2 ! 2 +31.4
+3.8 I +34.9 |
-8.7 +63. S

+ . 5 i -17.4
- 1 2 . 8 i -17.7
- . 5 i -17.4
5 Cumulative

5S4, 491

+30. 1

!! 2,864,807 j 3,390,462
!! 255,729
289,901
!| 3,120,536 | 3,680.3*3
through February 29.

449,104 ;

+18. 3
+13.4
+17.9

47
TREND OF BUSINESS MOVEMENTS—Continued

1928

The cumulaiives shown are through December except where otherwise noted.
Earlier data for items shown here may
be found on pages 24 to 138 of the February, 1928, " Survey "

S

August I

October

^ -

November

96.11
87.24
79.00
79.93
85.05

97. 23
87.87
79.14
79.86
85.43

1927

jj
|j
January |i
|!
j'

Decem- j
m

££ -

I; PER CENT INj! CREASE ( + ) OR
|| DECREASE ( —)

i January

Jan.,
1928,
from
Dec,
1927

;
|
I
!
;

Jan.,
1928,
from
Jan.,
1927

! CUMULATIVE TOTAL
FROM JANUARY 1
THROUGH DECEMBER 3 1

I Per ct.
!| ini crease
or decrease
Jcumu-

1920

i
!
I
i

1927

lative
1927
from
1926

BANKING AND FINANCE—Continued
Stocks a n d Bonds—Continued

Bond prices:
Highest-grade rails.p. ct. of par, 4% bond..
Second-grade rails..p. ct. of par, 4% bond_.|
Public utility
p. ct. of par, 4% bond..!
Industrial
p. ct. of par, 4% bond..]
Comb, price index._p. ct. of par, 4% bond..;
Bond prices, 1st of following month:
;
5 Liberty bonds
p. ct. of par..'
16 foreign government and
I
city
p. ct. of par..!
Comb, price index, 66 bonds..p. ct. of par..|
Bond yields:
;
Railroads (15)
per cent..
Industrials (15)
per cent..!
Utilities (15)
per cent..!
Municipal (15)
percent..!
Municipal bond yield (20)
per cent.J
Long-term real-estate bonds issued:
\
Grand total..
thous. of dolls._j
Purpose of issue—
j
Finance construction...thous. of dolls._!
Real-estate mortgage thous. of dolls..;
Acquisitions and
\
improvements
thous. of dolls..;
Kind of structure—
I
Office and other
j
commercial
thous. of dolls..!
Hotels.._
thous. of dolls..!
Apartments..
thous. of dolls..i
Corporation Stockholders
(Quarterly)

94.58
85.43
78.23
79.55
83.98

95.19
86.11
78.29
79.81
84.35

!
|
!
I
|

97.20
88.57
79.55
80.82
85.98

97.04
88.75
79.66
81.28
86.15
105.94 i

103.68 | 103.92

106.53 I

106.02

105. 67
101. 34

105.64 !
101.51 |

105. 46
102. 43

105.60 I
102.46 I

4.32
4.81
4.78
4.00
4.02

4.27
4.80
4.75
3.96
3.96

32, 247

42,763 I

59,092

19,435
4,482

23,463
5,140 !

35,819
12,460 j <24, 270
10,523 j 5,241 I 11,207

!
!
|
I
I

3,310 !

4.24 !
4.79
4.75
3.93
3.95

4.19
4.79 !
4.76
3.93 I
3.93

i

+2.5
+.6
+2.2

+.2
+.1
+.6
+.2

105.90 ! 105.23 i
l
102.60 ! 100.38 i
|
4.42
4.87
4.81
4.04
4.08

4.13
4.76
4.68
3.89

;
|
!
!
|

+.3
+• 1
-1.0
-0.6
-0.8
-0.3

-2.3
-2.7
-3.7

1

9,155
2,660
2,226

61,167 !

67,960 |i +16.9

-10.0

644,311 j

570,742 ;! - 1 1 . 4

32,759 I
12,900 j

36,767 1 +35.0
1
17,480 ii +15.1

-10.9
-26.2

353,762 i
127,714 !

270,198 :i - 2 3 . 6
137,215 :| +7.4

5,115

1,850 ;

21,980 j
19,575
3,845 j
5,140 !
3,473 I 11,519

7,700
7,170
4,700

4.17 !
4.79
4.72
3.90
3.87

27,131 ! * 52, 322

525

+5.5
+6.3
+3.9
+2.2
+4.4

103.31

104.14

104.65
101.59

-.1

91.97
83.52
76.66
79. 51
82.52

6,533

6,663 |: +27.7

-2.0

82,330 !

16, 055
3,790
7,025

29,000 I
650 I
4,309

23,295 j +80.6
4,050 I -82.8
11,827 I -38.7

+24.5
-84.0
-63.6

261,676
103,643 !
87,126 !

1SG, 503 ii - 2 8 . 7
48,266 i: - 5 3 . 4
61,495 : - 2 9 . 4

1,024,680 i
9,961 I
213,506 !
115,708 I

972,927
-5.1
10,130
+1.7
207,535 j - 2 . 8
201,455 I +74.1

-22.5

\

GOLD AND SILVER
Gold:
I
Domestic receipts at mint
fine ounces.-!
Rand output..
thous. of ounces. J
Imports
..thous. of dolls..;
Exports
thous. of dolls. J
Monetary stock
mills, of dolls..
Silver:
'
Production—
United States
thous. of fineoz-.J
Canada..
thous. of fine oz.J
Mexico
thous. of fine oz._;
Stocks, end of month—
i
United States
thous. of fjneoz_.i
Canada
thous. of fine oz__i
Imports
thous. of dolls.-i
Exports
thous. of dolls..;
Price at New York
dolls, per fine oz._j

1

+1.0

141,938 I
2 2,874 j

2142, 622
2
2, 854

3141, 202 !
3 2, 913 |

+.5

2 95,351 |
3
1 , 653. !
2 25.69 i

22 94, 756
1, 539
2 25.11

3 84,447 ii
3 1,582 j!
3 28.99 i

-.6
-6.9
-2.3

+12.2
-2.7

+.4

+6.2
+3.2

2

418, 295
I 2 5, 247

2 416,695 I
2 5,287 j

75, 575
851
10, 431
77,849
< 4,376

91,245
863
7,877
1,524
4,588

103, 240
842
12, 979
24,444
4,571

97,103
856
2,056
10, 698
4,541

91,840
848
2,082
55, 266
4,451

5,145
2,388
9,372

4,691
2,023
7,909

4,980
1,696
8,273

508
624
4,856
5,590
.547

293
761
4,992
6,627
.554

17S
494
5,069
5,945
.560

4.86
.039
.054
.139
.401
.268
.193

4.86
.039
.054
.139
.401
.269
.193

4.87
.039
.055
.139
.402
.269
.193 |

4.87
.039
.055
.140
.404
.269
.193

.468
.363

.466 |
.364 |

.460 I
.365 I

1.001
.971
.119
.121

1.001 I
.972 !
.119 !
.122 |

1.001
.971
.119 i
.122 i

73, 624
843
38,320
52,086
4,374

i

lid

136
567
5,102
5,634
. 575

* 5,015
1
. '23 j
8,300

5,351
1,514

353
608
3, 770
7,186
.580

< 5,010
< 1, 739
8,300
4. 1

'3 393,843 |
| 35o84 i

574
1,141
6,305
6,692
.571

TOO

—. 7

-2.0

— 13.4

80,777 I - 2 . 6
840 |
-.9
+.5
59,355 +267. 4 - 3 5 . 4
14, 890
- 3 3 . 1 +249. 8
4,564
-4.2
0

5,196 1 +6.7
1
1,459 i! - 1 2 . 1
8,559 I!
700 !l +62. G
1,300 ji +87.7
5,151 I +67.2
7,388
-6.9
-1.5
.558

+3.0
+3.8

60,918
21,255
98,291

59,412 : - 2 . 5
>
20,761 -2.3
99,944 + 1 . 7

69,596 !
92,257 !

55,073 i| - 2 0 . 9
75,624 :| - 1 8 . 0

-18.0
-12.2

+22.4
-9.4
+2.3

FOREIGN EXCHANGE RATES
;
dolls, per £ sterling..I
dolls, per franc. J
dolls, per lira..:
dolls, per franc.
dolls, per guilder..:
dolls, per krone..!
dolls, per franc.!

.473
dolls, per yen..
.361
dolls, per rupee..
.999
dolls, per Canadian doll..
.968
dolls, per gold peso..
.118
dolls, per milreis..'
.120
dolls, per paper peso..'
1
Quarter ending in month indicated.




!

I

Pennsylvania Railroad Co.:
Domestic
number., iForeign
_.
number.. !.
U. S. Steel Corp. common stock:
j
Domestic
_number__iForeign
number. _!_
Shares held by brokers
per ct. of total..L
American Telehone & Telegraph Co.:
i
Domestic
number. _L
Foreign
..number.. L

Europe:
England
France
Italy
Belgium
Netherlands
Sweden
Switzerland
Asia:
Japan...
India
America:
Canada
Argentina
Brazil
Chile

63,843

4.88
.039
.054
.140
.404
.270 I
.193

4.88
.039
.053
.139
.403
.269
.193

4.85
.040
.043
.139
.400
.267
.193

.462
.367

.469
.367

.364

-2.5
+25.6
+.7
+1.0
+1.1
0

+1.5

-5.3

0

+.8

i

.972 |
.971
.939
.120 !
I
.120
.117
.122
.122
.120
* Quarter ending December 31, 1925.

+.6

0
0
-1.9
—.7
—2
- A
0

-. 1
-.1
0
0

0

+3.4 j .
+2.6
+1. 7 !
4
Revised.

48
TREND OF BUSINESS MOVEMENTS—Continued
1927

The cumulatives shown are through December except where otherwise noted.
Earlier data for items shown here may
be found on pages 24 to 138 of the February, 1928, " Survey "
August

1928

: Septein- |
ber ! October

November

December

PER CENTIN- i CUMULATIVE TOTAL
FROM JANUARY 1
I CREASE ( + ) OR !
THROUGH DECEMDECREASE ( —)
BER 31

1927

January | January

Jan.,
1928,
from
Dec,
1927

j

Jan.,
1928,
from
Jan.,
1927

Per ct
increase
or decrease
cumu-

1926

lative
1927
from
1926

1927

U. S. FOREIGN TRADE
Imports
Grand total
thous. of dolls..I
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 OceaniaTotal
thous. of dolls.,
Japan.
thous. of dolls.,
Africa, total
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..

368, 820 | 342,154 ! * 355, 744
« 110,169 i *
14,729 I
17,837 !
8,578 |
« 33, 038 ;

113,446
15, 923
20,162
8,585
29, 721

! 4 123, 659
! 4 18, 297
4 20, 846
! * 11,369
! * 33,119

* 344, 267 i 331, 236 \[ 337, 612 j 4 356, 841
1

115,910
4 15, 460
18,401
10,697
4
33, 841

103,383
13,224
15,511
8, 727 !
29,063

82,865 |
39,973 |

77, 784 | 4 84, 752 : 4 8 l , 578
41, 902 ; 4 44, 670 | 4 45> n 3
38, 293
4 4 3 j 2 68 ! 4 44, 945
10, 017 i
8, 536 ! 4 s, 296

47,529 !
6,413 ;

130, 660 \ « 119, 220 ' * 118, 394
122,507

144, 232
42, 656
35,471
66, 691
79, 770

4 71,993 |
4
37,563 !

93,565
34,229
10,275

!
|
i
|

1,011,571 ! 985,458 i - 2 . 6
475,880 I 475,077 j - . 2
567,979 I 518,275 ! -8.8
97,240 ' +9.2
89,059 |
| 1,311,424 -10.7
1,469,051 I 402,105
+.4
400,696 ! ! 93,255
-3.3
96,421
+8.7 | -13.0 | 1,792,862 | 1,601,649
|
-10.7

133,226 « 153,113

4 95, 704
25, 639
6,129

33,190 j « 44,194
< 49,145
33,016 l * 41, 347 i * 36,123
4
63,094
67, 807
4 60, 091
82,194 ! * 83,173 j < 80, 512

-5. €

1,285,864 ' 1, 276, 282
-.7
152,021 ! 167,808 ; + 10.4
198,493 ! 200, 554
+1.0
100,526 ! 108,925
+8.4
383,197 ; 357,929

4 45,007
4 7, 542
4 128,911
4 37,188
10, 790

« 98, 994
* 123,707 i 105,979
33,973
35,369 j
47,482 !
5,071
6,651 :
4 5, 677 '

-5.4 | 4,430,888 I 4,184,694
|

.! 4 100,140
J
12,572
J 4 15,908
J 9,011
. I 4 21, 428

76,485 i
40,553 :

46,401 I
9,694 |

+1.9

51, 504
48,302 ! 4 44,081
28,227 ' 28,723 ! 4 26, 947
59, 037
61,059 ! 4 65,974
69, 960
66,303 4 66, 726

-6.2

+9.6

j

+1.8 | +6.6 !
+3.4 |
-5.2 i

539,757 i
417,513 I
804,285 !
876,471 I

504,
450,
749,
878,

571
595
597
280

-6.5

+7.9

-6.8

Exports
Grand total, including
reexports
thous. of dolls,.. * 374, 751
By grand division:
EuropeTotal
thous. of dolls.. ! 168,282
14,403
France
thous. of dolls..
30, 239
Germany
thous. of dolls..
9, 332
Italy
thous. of dolls..
57, 670
United Kingdom
thous. of dolls..
North America—
Total
thous. of dolls.. 4109,058
Canada..
thous. of dolls.. ; < 75, 241
South AmericaTotal
thous. of dolls.
38,391
15,678
Argentina
_
thous. of dolls..
Asia and Oceania—
50,492
Total
thous. of dolls.
12,199
Japan
..thous. of dolls.
Africa, total
thous. of dolls. :
8,527
Total dom estic exports only
thous. of dolls.
367, 575
By classes of commodities:
55,135
Crude materials...
thous. of dolls.
Foodstuffs, crude, and
46, 770
food animals
thous. of dolls.
34,160
Manufactured foodstuffs...thous. of dolls.
59,786
Semimanufactures
thous. of dolls171, 724
Finished manufactures
thous. of dolls.
Agricultural exports (quantities):
All commodities
_rel. to 1910-14.
All commodities except
155
cotton
rel. to 1910-14.

! * 425, 267 j « 488, 643 * 461,407, 617
018
4
< 211, 728 | 4 254, 462 241,169
* 21, 084 29, 050 4 28, 542
62, 637 4 58, 657
4 51,855
8,169 ! 14, 494 4 14, 926
4 72,463 ! 4 89, 958 4 79,197
4 118,505 ! « 114,543 4 106, 391
|
4 85, 725 | ^ 80, 681 4 69, 991
4 33, 884 ! 4 32, 719 j 39, 725
4
12,976 j 13,640 4 15, 381
4 52, 903 ! 4 77, 031 \ 64, 726
4
17,923 I 33,711 j 4 27, 814
4 9,007
8, 247
4 9> 8 88 !4 452,868
4 416,472 I 4 480, 428 j
102,145 ! 4 160, 282
145,889
62, 425
69, 429
38, 562 I 45, 643 j
4 54, 791 '4 55, 001 I
|
4 151, 545 4 157, 077

46, 723
4 42,398
* 56, 140
4 161, 722

411, 000 | 4 419,

207,088
23,127
43,848 :
15,907
72,498

.8 I - 2 . 0 |! 4,808,660 ; 4,865,400

402

4 2 1 1 . 038
1 4 20. 302

!
J

__

13, 238 '
4 89 8 1 9 • ! . .

90, 748
56,708

''
I

4 44, 584
15, 355

61,923
23, 212
10, 462
398,344

;_____

4 88,054
4 50, 718

37,396
15,025

2,310,144 2,313,747
+.2
264,004
228,757
-13.4
364,162
481, 678
+32.3
157,402 ; 131,651
-16.4
972,606 : 840,058 ; -13.6

>

4 40. 257

4 66, 046
22, 700
9,1

401,545 4 411, 649

117,574 I 112,062 4 122,510
23,303
42,057
59,612
155,798

18,077
43, 296
63, 846
164, 265

24,406
4 41,016
4 61, 339
4 162, 379

+1.2

1,176,482 ! 1, 253, 015
738,568
836,514

+6.5
+13.3

443,507 !
143,575 I
I

+.8

i
;

_..,

-2.5

••

438,182 ! — 1.2
163,486
+13.9

777,258 )
260,754

753,365
257,582

101,279
107,087
4,711,721 4,758,893

- 4 . 7 I —8.5 i| 1,261,323 i 1; 192, 784
-22.4

+2.9
+7.1
+5.4

-25.9

+5.6
+4.1
+ 1.2

335,062 I
503,005
655,547
1,956,784 1,

421,107
463, 304
699, 837
981, 866

j

142 !

185 I

161

119

|

113

150

-5.0

218 ]

187

133

!

127

140

-4.5

! -9.3

-4.5
-36.1

-1.0

-5.4

+25.7
-7.9
+6.8
+1.3

; -24.7

211 !

-3.1
-1.2
+5.7
+1.0

CANADIAN FOREIGN TRADE
Total trade:
Imports
Exports

thous. of dolls.
thous. of dolls.

99,348
95,955

91,803 • 93,936 : 94,312
i
99,335
105,821 155,521

4 Revised.




O

83, 263
132,189

79, 605
84, 428

78, 806
85, 266

+.9

1,008,342 i 1,087,178 !
1,283,940 I 1,238,782 j

+7.8
-3.5

PUBLICATIONS OF THE DEPARTMENT OF COMMERCE
Recent publications of the Department of Commerce having the most direct interest to readers of the SURVEY OP CURRENT
below. A complete list may be obtained by addressing the Division of Publications, Department of Commerce, <
at Washington. Copies of the publications may be purchased from the Superintendent of Documents, Government Printing
Office, Washington, at the prices stated. If no price is mentioned, the publication is distributed free.
BUSINESS are listed

OFFICE OF THE SECRETARY
City Planning Primer, by Advisory Committee on Zoning
appointed by Secretary Hoover, iv-j-18 pages. States the
advantages derived by every community from intelligent city
planning and gives suggestions as to the things to be considered
in such planning. Price, 5£.
Radio Service Bulletin, January, 1928.—34 pages. Issued
monthly by the Radio Division of the Department of Commerce. Contains lists of radio stations and references to
current radio literature. Single copies, 5^; annual subscription,
250.
Services Available to Chemical Industry Through United
States Department of Commerce.—ii+33 pages, 4 illustrations.
The service rendered by the various bureaus of the Commerce
Department to the chemical industry are outlined.

BUREAU OF THE CENSUS
(For information concerning plan of publication and distribution of census publications, address the Director of the Census)

Light Metals and Alloys, Aluminum, Magnesium.—Circular
No. 346; iv+403 pages, 73 illustrations, 6 pages of plates. This
circular supersedes No. 76 on the same subject and deals with
the physical and mechanical properties of aluminum and magnesium and of their alloys. Price, $1.10.
Physical Properties of Principal Commercial Limestones Used
for Building Construction in United States, by D. W. Kessler
and W. H. Sligh. Technologic Paper No. 349. (From Technologic Papers, vol. 21, pp. 497-590, 25 illustrations.) Tests
made by the Bureau of Standards to determine the strength
and elasticity of limestones used for building purposes. Price
300.
Technical News Bulletin, January, 1928.—12 pages, monthly.
Contains items describing laboratory activities of Bureau and
a list of pamphlets issued during preceding month. AnnuaJ
subscription, 25^.
United States Government Master Specification for Lamps
Electric, Incandescent, Large, Tungsten, Filament. Circulai
No. 13; 12 pages. Price, 50.
1928 Supplement to Circular No. 13. 4 pages. Price, 50.

Census of Agriculture, 1925: Part II, The Southern States.—
BUREAU OF FISHERIES
This publication presents statistics concerning farms and farm
property, livestock, crops, etc., for the United States as a whole,
Fishery
United States,
by Oscar E.
distributed by States, and detailed county statistics for the Document Industries of(Appendix V to1926,report of the Sette.
No. 1025.
the
U. S.
Southern States. 1,328 pages, cloth bound, price $1.75.
Commissioner of Fisheries for 1927, pp. 337-483.) Price, 250.
I Trade in Fresh and Frozen Fishery Products and Related
BUREAU OF FOREIGN AND DOMESTIC COMMERCE Marketing Considerations in Greater St. Louis, Mo., by It. H.
Fieldler. Document No. 1026. (Appendix VI to the report of
(The publications of this bureau may also be purchased from the bureau or its
district offices)
the U. S. Commissioner of Fisheries for 1927, pp. 485-514,
Monthly Summary of Foreign Commerce of United States, 2 illustrations.) price, 100.
Progress in Biological Inquiries, 1926, Including Proceedings
December, 1927.—Parts I and II. Part I contains statistics
of exports of domestic merchandise, and imports by articles of Divisional Conference, January 4 to 7, 1927, by Elmer
for December, 1926 and 1927, and for 12 months ended Decem- Higgins. Document No. 1029. (Appendix VII to the report
ber, 1926 and 1927. Part II contains summaries of export of the U. S. Commissioner of Fisheries for 1927, pp. 517-681, 18
and import trade; monthly average import and export prices; illustrations.) Statement of the results of investigations constatistics of trade with Alaska, Hawaii, and Porto Rico. Single ducted by the Fisheries Bureau, with a report on the proceedings of the first conference of the investigators of the
copies, Part I, 10£; Part II, 5£. Annual subscription, $1.25.
Trade Association Activities, by Irving S. Paull, J. W. Mil- division of inquiry. Price, 250.
lard, and James S. Taylor. Domestic Commerce Series No. 20;
BUREAU OF MINES
viii + 381 pages. Study of the methods of organization of trade
associations, showing scope and value of the activities of each
Descriptive List of Motion Picture Films of U. S. Bureau of
association, and the relations of such associations with Governand It. A. Wood,
ment departments and offices. An appendix contains excerpts Mines, by M. F. Leopoldof motion-picture filmsii+20 pages.
produced by
from reports of Attorneys General relating to prosecutions under Contains an annotated list
the Sherman antitrust law. A bibliography is included. Price, the Bureau of Mines and loaned for educational purposes.
Mineral Resources of United States, 1926. The reports on
75£.
form of separate bulletins,
Standard Specifications for Structural Steel for Locomo- mineral resources are issued in thereleased since the February
of which the
tives.—Industrial Standards No. 210; serial designation announcement following have been at the price indicated:
and may be obtained
A 10-24; 18 pages, 4 illustrations. Portuguese-English edition
Anthracite in 1926. (Pt. II, pp. 1-39.) Price, 100.
prepared in cooperation with the Bureau of Standards. Price, 50.
Gold, Silver, Copper, Lead, and Zinc in California and Oregon in 1926. (Pt.
Irish Free State as Market for Electrical Machinery and
I, pp. 297-353.) Price, 100.
Supplies, by Julian F. Harrington, American vice consul,
Lead in 1926. (Pt. I, pp. 355-370.) Price, 5#.
Rare Metals: Cobalt, Molybdenum, Nickel, Tantalum, Titanium, Tungsten,
Dublin. Trade Information Bulletin No. 531; ii-f-24 pages.
Radium, Uranium, and Vanadium in 1926. (Pt. I, pp. 249-274.) Price, 50.
Shows the amount of electricity generated and consumed for
Sand and Gravel in 1926. (Pt. II, pp. 281-293.) Price, 50.
power, lighting, transportation, and communications in Irish
Secondary Metals in 1926. (Pt. I, pp. 275-295.) Price, 50.
Free State; and marketing methods employed for electrical
appliances. Information is given regarding patent and tradeBUREAU OF NAVIGATION
mark registration and advertising mediums. Price, 100.
Marketing of Crude Rubber, with Trade Statistics, by
American Documented Seagoing Merchant Vessels of 500
E. G. Holt. Trade Promotion Series No. 55; xvi-j-257 pages, Gross Tons and Over, January, 1928. ii+64 pages. Published
12 illustrations. Survey of rubber resources of producing monthly. Single copies, 100; annual subscription, 75£.
countries of the world, marketing methods and exports, restriction on production in British areas of the Far East, markets
LIGHTHOUSE SERVICE
for crude product in Europe and United States, rubber trade
associations, and statistics regarding rubber consumption.
Light List, Atlantic and Gulf Coasts of the United States,
Price, 450.
1928 (corrected to December 15, 1927). 520 pages. This list
Trading Under Laws of Porto Rico, by Joaquin Servera. describes all aids to navigation maintained by the United
Trade Promotion Series No. 58; iv-j-44 pages. Presents an States on the Atlantic and Gulf coasts, in Porto Rico, Virgin
outline and brief discussion of commercial and taxation laws Islands, and Cuba. Price, 50^.
of Porto Rico. Price, 100.

BUREAU OF STANDARDS
Simplified Practice Recommendations:
No. 17. Forged Tools, vi+24 pages, 9 illustrations. Price, H.
No. 48. Shovels, Spades, and Scoops, ii+16 pages, 1 illustration. Price, 5£.
No. 60. Packing of Carriage, Machine, and Lag Bolts, vi+18 pages, 1 illustration. Price, 5£.
Metal Spools for Annealing, Handling, and Shipping Wire. vi-J-12
No. 63.
pages,
http://fraser.stlouisfed.org/ 1 illustration. Price, 5£.

Federal Reserve Bank of St. Louis

PATENT OFFICE

Index of Patents Issued from United States Patent Office,
1927. 1019 pages. Contains alphabetical lists of patentees
and inventions and of disclaimers. Price, $1.
Index of Trade-Marks Issued from United States Patent
Office, 1927. 735 pages. Contains alphabetical lists of registrants, applicants for registration, and titles of trade-marks,
labels, and prints. Price, 50£.

ssociation
A NEW PUBLICATION OF THE

DEPARTMENT OF COMMERCE
A COMPREHENSIVE SURVEY OF THE ACTIVITIES AND ACCOMPLISHMENTS OF MORE THAN 400 TRADE ASSOCIATIONS
TKis cross section of cooperation in American commerce
and industry reveals tlie details of organization,axld
'•. .•"
financing and the major activities and achievements of
tKe principal organizations in each industry* , Major-. \. ;.
activities are illustrated with details from actual practice;

A Practical Handbook for Trade Secretaries
TABLE OF CONTENTS
Foreword by Herbert Hoover
Chapter 1. Introduction
' r
•
Chapter 2. How Trade Associations are Organized and Financed
INDUSTRIAL ORGANIZATION

FUNCTIONAL ACTIVITIES
Chap.
3. Statistics
4. Legal Aspects of Statistical Activities
5. Cost Accounting
,
. . .
6. Industrial and Commercial Research
:
7. Simplified Practice
8. Industrial Standardisation
9, Public Relations—Cooperative Advertising
10. Trade Relations-^-Arbitration .
11. Credit and Insurance Departments
1,2. Employer-Employee Relations
13. Traffic and Transportation Service
Appendix

Chap.
14. Construction Industries
15. Railways ahdf Public Utilities ,' . .
16. Automobiles, Airplanes, and Highways
17. Mining and Oil Industries
18. Metals and Machinery
10. Miscellaneous Manufacturing Industries
2Q. Textiles and Clothing
21. Farm Products
22. Wholesale and Retail Trade
23. Banking and Insurance
,
'
•
24. Technical, Auxiliary, and Special Purpose Groups

I Government Relations ,,
.
II Excerpts from Reports of Attorneys General
III Bibliography

,

.

ISSUED AS DOMESTIC COMMERCE SERIES NO. 20

Bound in buckram, 380 pa&es. Copies may be obtained for 75 cents from

of Documents, Government Printing Office, Washington, D* C.
Or any of the following branch offices of tlie Department of Commerce:
ATLANTA: 538 Post Office Building
, BALTIMORE: 22 tight &ree{
BOSTON: 1801 <!lukcmhouse
, CHATTANOOGA: iSGl Market Street
, CHICAGO: RoomMS, 33 S. Clark Street
CINCINNATI: Chamber of Commerce
CLEVELAND: Chamber of Commerce'
DES MOINES: 122 Fe^era^ Buildjng
DETROIT: 607 Free Press Building
^ GALVESTO^: 309 Pcil Qffice Building




HOUSTON: Chamber of Commerce Building
JACKSONVILLE: Greenleaf Crosby Building
KANSAS CITY: Athletic Club Building
LOS ANGELES: 1163 S. Broadway
LOUISVILLE: Board of Trade Building
MEMPHIS: Chamber of Commerce Building
MINNEAPOLIS: 213 Federal BuHding
MOBILE: Meaher Building
NEWARK: Chamber of Commerce
NEW ORLEANS: 322 Post Office Building

NEW YORK: 734 Custbmhcuse
NORFOLK: 406 East Pluin* Street
PHILADELPHIA: Room 812, 20 S. Fifteenth Street
PORTLAND, GREG.: 215 New Post Office Building
ROCHESTER: Chamber oi Commerce 5 ' , • .
ST. LOUIS: 1201 Libert? Cental Trust Co. Building
SAN FRANCISCO: 310Customhouse
SEATTLE: 820 Skinner Building
WILMINGTON, DEL.: Du Pont Building

J