Full text of Survey of Current Business : May 1943
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MAY 1943
SURVEY
CURRENT
BUSINES
UNITED STATES DEPARTMENT OF COMftf|lt|
BUREAU OF FOREIGN AND DOMESTIC
To keep you
ybreast of
ederal developments
THE FEDERAL REGISTER
is a United States Government publication containing presidential proclamations, Executive
orders, and orders, rules, regulations, licenses,
notices, and similar documents of general applicability and legal effect promulgated by Federal
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is effected by filing them with the Division of
Federal Register and making them available for
public inspection.
Among the documents of wide interest and
application published regularly in the daily issue
of the Federal Register are the full text of limita-
tion, conservation orders, and priorities regulations of the War Production Board; the enumeration of defense rental areas, maximum price
regulations and price schedules of the OiEce of
Price Administration; vesting orders of the Alien
Property Custodian; rules of the Office of Censorship and the Office of Civilian Defense; regulations of the War Shipping Administration and
the Office of Defense Transportation and various
other war agencies.
The act of July 26, 1935, provides that publication in
the Federal Register of any document shall create a
rebuttable presumption that it was duly issued, prescribed, or promulgated, that it was duly filed with the
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been complied with.
Here are a few of the subjects covered by the Register:
Agriculture
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Commercial Practices
Food and Drugs
Foreign Relations
Internal Revenue
Interstate Commerce
Labor
Money and Finance
Navigation and Navigable Waters
Public Contracts
Shipping
Telecommunication
SURVEY OF
CURRENT BUSINESS
MAY 1943
ECONOMIC HIGHLIGHTS.
2
THE BUSINESS SITUATION
3
First Quarter Review
,
3
Price Control
6
Transportation
8
Construction
10
Food Supplies
12
PRICE DEFLATORS
FOR CONSUMER COMMODITIES AND
CAPITAL EQUIPMENT 1929-1942
13
PUBLIC AND PRIVATE DEBT IN THE UNITED STATES 1916-1942..
22
STATISTICAL DATA:
Indexes of Volume of Transpoitation—Table 5
26, 27
Cash Farm Income—Table 6
28
Monthly Business Statistics
S-l
General Index
Inside back cover
Published by the Department of Commerce, JESSE H. JONES, Secretary, and issued through
the Bureau of Foreign and Domestic Commerce, 0 . P. HOPKINS, Acting Director
Volume 23
Number 5
Subscription price of the monthly SURVEY OF CURRENT BUSINESS, 31.75 a year. Single-copy price: Monthly, 15 cents;
Foreign subscription*, 32.50. Price of the 1942 Supplement is 50 cents. Make remittances only to
Superintendent of Documents, U. S. Government Printing Office, Washington, D. C*
SURVEY OF CURRENT BUSINESS
May 19i3
Economic Highlights
Railway Traffic Still Advancing
Farm Prices Higher
Prices received by farmers for their marketings of crops and
livestock continue to advance steadily despite occasional seasonal
declines. As the chart shows prices of meat animals and of
truck crops have risen especially rapidly while other farm prices
have shown less spectacular gains. In March 1943 farm prices
were on the average 25 percent higher than in the same period a
year earlier yet truck crop prices were up over 120 percent and
meat animal prices were up 26 percent. These price trends, of
course, reflect both the rapidly expanding demand for food and
the comparative freedom, until recently, of farm products from
The aggregate volume of freight shipments by rail, as measured
by ton-miles, continues to gain steadily on a seasonally adjusted
basis, reflecting the growth in industrial production and the
increased shipments of military supplies. The war period has
brought longer hauls and heavier carloads than characterized
peacetime transportation with the result that car loadings,
formerly a fair index of transport volume, have tended to lag
further and further behind ton-miles. The October 1942 peak
in the railway ton-miles index was the highest on record but has
already been exceeded on a seasonally adjusted basis by Feb~
INDEX, AUGUST 1909-JULY 1914=100
400
INDEX, 1935- 39 = 100
250
300
200
/
fh VCK
r
CROPS^
150
200
MEAT ANIMAL S
k
^X
*
100
100
^
TOTAL
* INCLUDL"S SOME GROUPS
NOT SH OWN SEPARATELY.
0
i
. 1 i i . i i u , i , 1 i i i . i I I i i i 1 i i i i iM
iII
1939
1940
1941
i l l !
1942
1 , ,1 1 1 1 t I I 1
1943
50 U
1939
1940
D. 0 43 - 245
P r i c e s Received by F a r m e r s .
price control. Rising prices, along with the growth in physical
volume of farm marketings, have brought record levels of farm
income. Thus cash farm income from marketings in March
1943 were 35 percent above the previous March. With food
certain to be short in 1943 despite the prospect for a farm output
as large or larger than last year, there will undoubtedly be pressure for continued farm price increases as an incentive to production. Substantial further increases, however, might gravely
unbalance the existing wage structure.
Freight Ton-Miles and Carloadings, Glass I Railways.
ruary 1943. Railway facilities are strained by the heavy volume
of traffic but essential demands have, for the most part, been
met. This traffic volume has lifted railway earnings to a point
where it was considered feasible recently to set aside a rate
increase which took effect early in 1942. Financial results from
this point forward will depend very largely on such factors asthe outcome of wage negotiations now in progress, the future
trend of prices, and the provisions of future tax legislation.
War Output of Equipment Industries Rising
Shipments of war materials by the Nation's machinery and this year exceeded those of the comparable period in 1942
equipment producers rose to a new high during the first quarter by more than 90 percent. These industries, of course, are
of the year. In this three-month period, aggregate sales of these primarily fabricators of finished armaments. In contrast, first
industries—-machinery, automo- BILLIONS OF DOLLARS
BILLIONS OF DOLLARS quarter 1943 sales of producers
12.5 of machinery other than electritive products, and transport equip- 12.5
ment such as aircraft, railroad
cal were up only 35 percent.
ELECTRICAL MACHINERY
equipment, and shipbuilding—exArmaments form a much smaller
MACHINERY, EXCEPT ELECTRICAL
- 10.0
AUTOMOBILES AND EQUI
ceeded 11 billion dollars. This
proportion of the output of this
compares with 6.5 billions during
latter group.
the first quarter of 1942 and with
That the machinery and equipless than 10 billions for the entire
ment industries are getting subyear 1939.
stantially closer to full utilization
Analysis of shipment trends by 5 . 0
of their currently available reindustry groups show^s that desources is indicated by the fact
liveries of finished armaments
that the first quarter 1943 increase
form an increasing proportion of 2 . 5
in their shipments was only
the total now that the process of
670 million dollars—less than half
tooling up war plants has reached
the increase of 1,470 millions
a virtual ceiling. For example,
during the preceding quarter and
combined sales of the transportaconsiderably smaller than the
1940
tion equipment and automotive
average quarterly increase of
industries in the first quarter of
1,040 millions during 1942.
Manufacturers' Shipments for Selected Industry Goups.
SURVEY OF CURRENT BUSINESS
May 1943
The Business Situation
transition period (somewhat like those that accompanied changing automobile models in pre-war years)
while a new balance of objectives is worked out for the
In our inflation defenses, cracks and fissures were ap- war program, this transition period to be followed by
pearing almost daily despite the recent Presidential a resumption of earlier swift rises, (4) arrival of the
order to "hold the line." However, on May 1 the Price final stage of economic mobilization marked by an
Administrator announced a new and strengthened pro- acute shortage of manpower, or (5) a combination of
gram to control living costs. Briefly this program all the foregoing.
provided for (1) extension of price control to cover all
Chart 1.—Federal Expenditures for War Activities
important commodities, (2) the roll back of those prices
BILLIONS OF DOLLARS
which have recently gotten out of hand, (3) establish8
ment of more specific ceilings, and (4) a stronger
enforcement program.
On the labor front the coal strike reopened the whole
6
question of wage policy while the growing seriousness of
manpower shortages was underlined by the War Man4
power Commission's "job freeze" order as well as by the
apparent diminution in the rate of expansion in indus
trial output. Effects of the Manpower Commission's
2
previous "essential activity" and "48-hour week" orders
were beginining to be felt but had not been fully worked
out.
0
1940
1941
1942
1943
Economic indexes during April reflected these mountDO 43 -250
ing pressures, although the signs were small and the Source* Daily Statement of the U. S. Treasury.
evidence by no means conclusive. The Federal Reserve
index of industrial production advanced an apparent
Naturally, as the Nation approaches closer both to
2 additional points on a seasonally adjusted basis to realization of peak war objectives and to full utilization
205 (1935-39=100). The usual large gain in output of its resources, additional gains will be smaller and
of durable manufactured products had a greater effect harder to achieve. It seems somewhat early for this
on the combined index than the slight gains in both type of retardation to set in. Hence the present
nondurables and minerals. This conforms to the pat- slowing down is more apt to mirror the effects of reorientern of recent months. Wholesale prices rose fractionally, with a full point rise in food prices and a similar
Table 1.—War Expenditures and Munitions Output
gain iii prices of farm products primarily responsible.
I
1942
The Treasury's second war loan drive, which began
1941,
1943,
1st
4th
on April 12, appears to have met with considerable
Item
quarquar2d
ter
ter
quarquarquarsuccess in tapping nonbanking sources of funds. Federter
ter
al Reserve reporting member bank holdings of Governexpenditures by U. S. Treasury
ment securities advanced only moderately, while War(millions
of dollars)
4,835 7,120 10, 626 14, 766 17, 348 18, 460
2,285 3, 506 4. 140 2,582
1,112
Gain over preceding period
adjusted demand deposits likewise rose only slightly, Munitions
output (W. P . B.
index,
l
264
345
439
491
108
November 1941 = 100)
compared with the much larger rise of the previous
86
94
81
52
Gain over preceding period
month.
CONOMIC developments during April revolved
E
about two problems, inflation and manpower, both
of which threatened to become explosive in character.
/
/
/
! 1 1 1 1 i 1 1 1 1 1
1
First Quarter Review
Declining rates of gain in certain important economic
series constituted perhaps the outstanding development during the first quarter of 1943. These declining
rates of increase were evident in Federal war expenditures, munitions output, industrial production and the
civilian labor force. The apparent tapering off of these
series suggests various interpretations, such as: (1)
deferred achievement of objectives, (2) lower ultimate
peak levels of output, (3) passage through a temporary
1 I 1 1 1 1 1 1 1 1
1
Quarterly averages.
tation. Whatever the correct interpretation may be,
preliminary indications suggest that April war expenditures and total munitions output will show a
much smaller gain compared to March than was
registered in March over February.
The Treasury's war expenditures during the first
quarter of 1943 were 1.1 billion dollars larger than in
the previous quarter. Should this rate of growth
prevail throughout the remainder of the year, aggre-
SURVEY OF CURRENT BUSINESS
gate war expenditure by the Treasury would be about
9 billion dollars or 10 percent less than if the much
faster growth of expenditures during the preceding
quarter, 2.6 billion dollars, had been maintained.
This diminished rate of expenditure was due largely
to the concurrent slackening in the growth of munitions production.
The slackened rate of advance in industrial output
was due chiefly to a slowing of pace in the durable goods
industries. The most pronounced retardation was in
the transportation equipment industries which include shipbuilding. The output of these industries
during the first quarter of the year, although at peak
levels, rose little more than half as much as during the
July-September quarter of 1942 which was the period
of maximum advance. The automobile industry, a
component of the transportation equipment group,
was an exception. Output of this industry maintained
virtually the same steady rate of advance it has
exhibited ever since conversion early last summer.
The machinery group, an important contributor to
munitions output, continued at almost the rate of
advance set in the fourth quarter. The nonferrous
metal products group failed to gain at all compared to
the fourth quarter and stood only 6 percent above its
level of a year ago—due chiefly to raw material shortChart 2.—Production of Munitions 1
INDEX, NOVEMBER 1941 = 100
600
I
500
400
May 1943
registered rising output, and their increases were small.
The others either remained stationary or declined.
Chemicals are the only nondurable industry group
that has doubled its output relative to the average of
the 1935-39 period. Only four nondurable groups had a
Chart 3.—Production of Manufactures, Adjusted for Seasonal
Variation
INDEX, 1935- 39= 100
350
300
IS*
/
250
DURABLE
200
y
TOTAL MAN JFACTURES
4
150
^..
>§&£:.,•<
100 —»^>
50
X
MA NUFACTURES
1 1 1 1 1 1 1 1 1 ! 1
Mill
1939
-.
**•••
^-NONDURABLE
I1I 1 ! 1 I 1 1 1
1940
tMANUFACTURES
i i 1i i i
1 1 ! I I\ 1 1 1 1 1 1 1 II
1941
I I I I I
1943
1942
DO. 43-24 9
Source: Board of Governors of the Federal Reserve System.
higher volume of output during the first quarter of
1943 than during the similar period of 1942; the rest
were all lower. Manufactured food output was 12
percent, tobacco products 3 percent, textiles 1 percent
and chemical output 32-percent higher. This last
named increase is, of course, due chiefly to the fact
that the products of the chemical industry group consist more largely of munitions than do those of any
other industry among the nondurables group. In
/
300
/
Table 2.—Industrial Production, Quarterly Averages
/
200
[Adjusted for seasonal variation, 1935-39=100)
/
/
J00
1942
1941,
<*
0
_LI
1940
1 1 I 1 1 1 1_1 l_
1941
I 1 1 ! 1 I 1 1 | |
1942
1
1 1 1 1 1 1 1 1 I I
Industry group
1
4th
quar-
ter
1943
DO. 43-247
i Includes ships, planes, tanks, guns, ammunition, and all field equipment.
Source: War Production Board.
ages. Output of lumber and its products fell, with
the industry rounding out a full year of decline caused
by restrictions on nonessential lumber use. Output
of the stone, clay, and glass products group rose
somewhat from the previous quarter due to the rise in
glass container output, but cement suffered a sharp
decline. As a whole this group was therefore below
its level in the first quarter of 1942.
The outstanding output rise among the nondurables
in the January-March period occurred in the chemical
group. The gain here was the second largest made in
any 3-month period in the industry's record. Only two
other nondurable industry groups—food and textiles—
Total
Durable manufactures
Iron and steel
Machinery
Transportation equipment....
Automobile bodies, parts and
assembly
Nonferrous metals
Lumber and products
Stone, clay, and glass products
Nondurable manufactures
Textiles and products
Leather and products
Shoes
Manufactured food products._
Paper and products
Printing and publishing
Petroleum and coal products Chemicals
Minerals, excluding gold
Fuels
Bituminous coal
Crude petroleum
Metals, excluding gold
1
1943,
1st
quarter
quar- quar- quar- quarter
ter
ter
ter
1st
2d
3d
4th
166
210
192
235
274
172
225
195
259
316
174
239
199
280
373
183
257
197
298
454
194
279
203
327
527
201
295
207
353
573
136
189
136
109
186
140
108
181
131
123
191
129
140
197
128
155
197
125
160
141
153
126
125
137
150
131
135
150
134
131
145
128
160
164
141
156
126
124
138
152
125
128
159
132
128
142
124
167
152
138
155
126
125
136
142
111
116
168
127
121
147
111
182
146
140
155
113
111
145
129
109
120
174
131
125
144
118
182
151
146
157
117
116
152
134
116
122
191
132
128
147
121
172
155
149
158
117
116
155
134
113
119
210
135
129
154
121
i 183
Partly estimated.
Source: Board of Governors of the Federal Reserve System.
SURVEY OF CURRENT BUSINESS
May 1943
contrast, some of the nondurable industries, such as year ago; and (3) unemployment, nearing rock bottom,
petroleum refining, sugar, and shoes, have been affected is a reserve from which few if any more workers can
by emergency restrictions and by rationing programs be drawn. The large growth of the armed forces has
which have curtailed production.
necessitated the addition of many new workers to the
Among the minerals, fuels production (seasonally civilian labor force and as a result of this heavy draft
adjusted) has held generally level over the past year. on our manpower reserves, the total labor force inIn the first quarter it was one point higher than in creased by about 3 millions from March 1942 to March
either the fourth or the first quarters of 1942. A small 1943.
decline in crude petroleum output over the year has
Within the next 6 months, the Nation must draw
been approximately offset by a rise in bituminous coal. on its labor reserves to the extent of 3% to 4 million
Metallic minerals, excluding gold, registered a sub- more persons. This will be necessary both to supply
stantial rise during the first quarter and stood, as may the armed forces and to meet the usual periodic exbe seen in table 2, about 10 percent above the corre- pansion of roughly 3 million persons required at the
sponding 1942 period.
peak of the harvest season.
Table 3.—Estimated Labor Force 14 Years of Age and Over
[Millions of persons]
1942
1941,
December March June
Item
Civilian labor force
Change from preceding date.
Civilian employment
Change from preceding date
Nonagricultural employment
Change from preceding date
Unemployment
Change from preceding date
54.0
54.5
56.1
+1.6
54.1
-2.0
50.9
53.3
+2.4
41.8
-0.2
2.8
-0.8
52.4
-0.9
42.2
+0.5
50.2
+0.7
42.0
+0.1
41.9
1943,
De- March
cember
September
3.6
-0.2
52.0
-1.4
53.4
-0.7
51.9
-0.5
43.0
51.0
-0.9
42.0
-1.0
1.0
-0.5
+0.8
+0.4
1.5
-0.2
1.7
-1.1
Source: U . S . Department of Commerce.
Labor Turn-over Still High.
In manufacturing industries labor turn-over, which
has been rising steadily since our entrance into the
war, also began, during the first quarter, to show signs
of a reversal in trend. Both accession and separation
rates are, however, running well above the levels of a
year ago according to latest available data. Seasonal
variations in labor turn-over are marked as may be seen
from chart 5. In February 1943 the hiring rate was
nearly 8 percent per month while the separation rate,
which includes voluntary transfers, entrance into the
Chart 5.—Labor Turnover Rates (Per 100 Employees) in
Manufacturing Industries *
Slackening rates of economic expansion were also
evident in the manpower field. In chart 4, average
manpower data for the first 3 months of 1943 are compared with similar data for the corresponding period
of 1942, while the data presented in table 3, compare
the situation in March 1943 with March 1942. Three
Chart 4.—Estimated Civilian Labor Force *
MILLIONS OF PERSONS
60
1940
1941
1942
1943
1 Beginning: with January 1943 the rates refer to all employees; prior to this date,
wage
earners only.
2
Includes new hirings and rehirings.
3
In addition to quits, includes discharges, layoffs, and miscellaneous separations
not shown separately on chart.
Source: U. S. Department of Labor.
1 SI
1942 1943
TOTAL
CIVILIAN
LABOR FORCE
UU.
1 S?
UU.
1942 1943
TOTAL
EMPLOYMENT
1 st
Qu.
1 st
Qu.
1942 1943
NONAGRICULTURAL
EMPLOYMENT
! st
Qu.
1 st
Qu.
1942 1943
AGRICULTURAL
EMPLOYMENT
1 st
Qu.
1 st
Qu.
1942 1943
UNEMPLOYMENT
DO. 43-248
1
Data do not include institutional population and the armed forces.
Source: U. S. Department of Commerce.
primary facts stand forth sharply: (1) The civilian
labor force has shrunk over the past year; (2) women
now constitute a larger portion of the labor force than a
armed forces, and all other reasons for leaving employment, was in excess of 7 percent. Some increase in
labor turn-over during recent months is explained by
the government policies and regulations designed to
facilitate the shift of workers from less to more essential
occupations. This should affect manufacturing industries less, however, than certain of the service, distributive, and miscellaneous trades.
During the next few months labor turn-over, at least
in the 35 designated "essential" industries, will undoubtedly be reduced by the War Manpower Com-
SURVEY OF CURRENT BUSINESS
Mav 1943
mission order of April 17; which prescribes limitations of Labor Statistics indexes, rose respectively only
on hiring new employees. Designed both to add to the 6 percent and 7 percent in the year beginning March
efficiency of the labor force by reducing turn-over, and 1942. That month was the base period whose highest
to aid the stabilization program by preventing the pirat- prices were in general designated as ceilings in the
ing of labor through higher wages, the order should serve General Maximum Price Regulation of April 28, 1942.
to relieve certain of the pressures which have been accu- Wholesale prices had risen 20 percent and the cost of
living 13 percent over the year ending with March
mulating in the labor market during the war period.
1942, a period of less inflationary pressure than that
Retail Trade.
which
followed.
With an unprecedented amount of purchasing power
The
General Maximum Price Regulation, which
at their disposal during the first quarter, consumers
became
effective early in May 1942, replaced the prewent on a literal buying spree. Their total expendivious
program
of selective price control with a compretures were 21 billion dollars or at the seasonally adjusted
hensive
price
stop at the March 1942 level. The
annual rate of nearly 90 billion dollars—a new high
Regulation
exempted
from control only those prices of
record. Expenditures last year totaled 82 billion dolfarm
products
and
foods
which had not yet attained a
lars. Sales of retail stores reflected this spending boom
definite
relationship
either
to farm parity price standards
and attained the very high seasonally adjusted annual
or
to
other
specified
base
date
prices, and certain prices
rate of 63 billion dollars. The comparable 1942 figure
of
seasonal
commodities
which
could not practically
was 56 billion dollars. Retail sales are shown in table 4
have
been
fixed
at
March
levels.
Thus prices of farm
in more detail.
products and of foods were subject to less effective
Table 4—Sales of Retail Stores by Kind of Business
control than prices of industrial products. Furthermore, wages were uncontrolled since the Emergency
[Adjusted for seasonal variation; 1935-39 = 100]
Price Act of 1942, which provided authority for the
1942
price freeze, contained no authority to issue a wage stop.
1943,
1941,
4th
1st
Kind of business
4th
2d
3d
quarIt was recognized at the time the General Maximum
quar- 1st
quarter
quar- quar- quar- ter
Price Regulation was issued that many detailed adjustter
ter
ter
ter
ments in the price structure might subsequently have
162.2
All retail stores,
138.1 145.6 141.3 147.3 148.3
98.6
132.6 114.9 102.5 104.1
108.2
Durable goods stores.
to be made in order to relieve inequities. In addition,
179.7
Nondurable goods stores139. 9 155.6 153.9 161.4 164.5
it
was recognized that price control was only one of
Apparel stores
Automotive stores
Building materials and hardware
dealers
Drug stores
Eating and drinking places
Food stores.
Filling stations
General merchandise stores
Household furnishings stores
Other retail stores
Jewelry stores
133.8
116.0
168.7
63.4
147.2
58.1
169.1
60.4
171.5
50.7
218.8
54.9
158.6
135.3
163.8
140.1
142.7
125.5
141.2
150.6
161.4
177.5
140.7
178.2
152.2
149.1
142.2
170.4
170.9
195. 7
163.6
151.3
180.3
155.1
129.5
131.4
135.2
193.0
193.9
155.7
164.9
193.2
162.1
127. 2
142.7
139.1
187.4
245. 9
147.8
176.5
208.4
166.2
120.7
145.0
147.3
184.0
260.3
166.5
176.5
240.6
173.6
112.7
162. 5
159.8
196.2
272.1
Chart 6.—Average Percentage Monthly Change in Wholesale
Prices *
PERCENT
+ 3.0!
Source: U. S. Department of Commerce.
Perhaps the outstanding feature of retail developments shown by the above data is that the rise during
the first quarter from the fourth quarter was, considering the season of the year, the biggest increase since
war broke out. Apparel sales were chiefly responsible
for this jump, but sales of general merchandise, eating
and drinking places and building materials and hardware dealers also contributed heavily. On the basis
of these first quarter results, earlier estimates of the
year's retail trade will probably have to be revised
upwards. However, it is known that business inventories are declining steadily. Unless prices accelerate
their rise more than anticipated, therefore, the rise of
retail sales must slow down later in the year because
of growing scarcities of merchandise.
Price Control
One year of general price control has now passed.
Its effectiveness is indicated by the fact that wholesale
prices and the cost of living, as measured by the Bureau
-0.5
ALL
COMMODITIES
FARM
PRODUCTS
COMMODITIES
OTHER THAN FARM
PRODUCTS AND FOODS
i Average percentage monthly change was obtained by dividing the percentage
change between the first and last month of each period by the number of months
within the period.
Source: U. S. Department of Labor.
several policies necessary to combat successfully the
then existing and prospective inflationary pressure.
Indeed the statement of considerations accompanying the General Maximum Price Regulation specifically
called for additional action to remove excess purchasing power from the market, to prevent additional
wage increases, and to step up taxes and savings.
SURVEY OF CURRENT BUSINESS
May 1943
It is now clear that the May 1942 price stop was
reasonably successful in preventing inflationary price
increases among the controlled commodities.1 This
is significant since no really adequate provisions for
administration or enforcement existed and since the
other parts of the comprehensive anti-inflation program were not immediately put into operation.
By October 1942 inflationary pressure had mounted
to a point where additional action proved necessary.
Hence the executive order of October 2 established the
Office of the Director of Economic Stabilization and
charged that official with developing a comprehensive
Chart 7,—Average Percentage Monthly 1Increase in Cost of
Living in Large Cities
and in April 1943 another inflation crisis made necessary the "hold the line" executive order. This order
placed all prices under control, reiterated the government policy on wages, and directed, whenever possible,
the substitution of specific price ceilings for the base
period price regulations of the May 1942 order.
Some of the results of price control over farm products and foods during a 1 year period may be seen from
table 5 which gives percentage changes in retail food
prices between February 1942 and February 1943.
By comparing changes only over the full year period
the effect of seasonal variation is avoided. The
products are grouped in the table according to the
length of time that their prices were controlled.
PERCENT
Table 5.—Percent Changes in Retail Pi ices of Food Items
Included in Cost-of-Living Indexes, February 1943 from
February 1942
Commodity
Percent
increase
PRICES CONTROLLED AS OF
MAY, 1942
MAY 1942 TO
OCTOBER 1942
OCTOBER 1942 TO
FEBRUARY 1943
MAY 1942 TO
OCTOBER 1942
OCTOBER 1942 TO
FEBRUARY 1943
O.O. 43-252
1
Percentage changes are based upon a link relative index which takes into account
the shift between controlled and uncontrolled items. Average percentage monthly
change was obtained by dividing the percentage change between the first and last
month of each period by the number of months within the period.
Source: U. S. Department of Labor.
national policy to control civilian purchasing power,
prices, rents, wages, salaries, profits, rationing, subsidies, and all related matters for the purpose of
stabilizing the cost of living. Authority was thus
provided to bring under control those parts of the
price structure not reached by the General Maximum
Price Regulation.
The Economic Stabilization Director largely delegated his powers over wages and salaries to the WaiLabor Board and the Treasury Department. Although
an actual wage stop at the September 1942 level was
promulgated, machinery was at tbe same time set up
to allow those wage increases deemed necessary to
correct inequities, eliminate substandard conditions,
correct maladjustments, and aid in the prosecution
of the war. In administering exceptions to the wage
stop, the War Labor Board continued to apply its
"Little Steel Formula" which tied wages to the cost
of living and thus permitted 15 percent advances
over January 1941 wage rates.
Despite the fact that the October order appeared
at the time to establish all powers necessary for successful price control, farm products for various reasons
continued to rise. In addition the wage rate question
was by no means solved. Pressure continued to mount
1
For a summary of the changes in controlled and uncontrolled prices during the
period May to October 1942 see the February 1943 Survey.
Commodity
Percent
increase
PRICES CONTROLLED AS OF
OCTOBER, 1942
All items, average,.
7.0
Bananas
Pork chops
Lard.
Corn meal
Canned peaches
Bacon
Canned pineapple
Canned tomatoes
Salt pork
Canned corn
Canned salmon
Shortening other than lard (in
cartons)
Ham
Oleomargarine
Chuck roast
Leg ro ast
Round steak
Soda crackers
Coffee
Veal cutlets
Salad dressing
Fresh milk
Tea
Whole wheat bread
Rye bread
Macaroni
White bread
Canned peas
Sugar
Shortening other than lard (in
containers other than cartons)
Corn flakes
27.4
18.5
r
17.4
15.1
14.5
14.3
13.5
12.2
12.0
11. 1
10.6
9.0
8.9
8.8
7.6
7.6
7.4
7.3
7.3
3.7
2.0
1.9
1. 1
1.0
0
0
0
All items, average..
Oranges
Butter
Roasting chickens..
Lamb rib
Leg of lamb
Eggs_
Potatoes
Evaporated milk...
Wheat flour
Dried navy beans..
Cheese
Lemons
22.0
42.7
30.8
30.7
25.5
25.0
21.1
17.6
14.8
12.0
7.8
6.3
-11.4
PRICES UNCONTROLLED AS
OF FEBRUARY, 1943
All items, average
Spinach
Lettuce
Sweetpotatoes..
Cabbage
Carrots,
Apples..
Fresh fish
Green beans
28.2
65.3
64.7
44.9
40.4
32.4
27.9
18.3
1. 1
-1.2
-2.8
Source: U. S. Department of Labor.
It is clear from the table that the uncontrolled prices
rose more than those controlled only from October to
February, and that the latter prices rose more than those
controlled after May 1942. Of course it should be
remembered that when some food prices are controlled,
pressure on the remaining uncontrolled items is intensified. Thus partial price control may, by itself,
tend to widen the disparity between controlled and
uncontrolled segments of the price structure.
Despite the April executive order price pressure continued to be severe during that month and it was
considered necessary to permit the puncturing of price
ceilings in a number of instances. However, if the
Price Administrator's new program of May 1 can be
8
SURVEY OF CURRENT BUSINESS
fully carried out, the prospects for both price and
wage stabilization around current levels will be much
improved.
The Price Administrator's lack of authority to grant
subsidies is a serious hindrance in "rolling back" prices
effectively. Price roll-backs shift the burden of
higher costs from the consumer to the merchant,
manufacturer, and other business men in the supply
sequence. Whenever the "squeeze" caused by either
rising costs or rolled back selling prices becomes
serious enough, suppliers of goods reach a point where
they must either get relief or go out of business. If the
goods in question are essential and if the public interest
requires their production to continue, then the issue is
obviously narrowed down to that of the manner in
which relief will be extended to keep producers in
business.
During the second year, the price control program
must face the problems of apportioning the burdens
of higher wartime costs among business, consumers,
and government, and of enforcing price ceilings.
Price control will become easier as more effective
measures to remove excess consumer purchasing power
are put into operation.
power, equipment and replacement parts, the volume of
commodities likely to be produced for the balance of
this year can be transported.
Even more impressive than the rise in the commodity
transport is the growth in passenger travel—by rail,
air, motorbus, and local transit—during the war period.
In 1942, total passenger transportation, as measured by
the Commerce index, rose 45 percent above 1941.
During the first quarter of this year, passenger travel
was 52 percent higher than the corresponding period of
last year. For 1943 as a whole, passenger transportation is now expected to be about 30 percent above last
year. While most of this travel will be of an essential
nature, principally by business representatives and
members of the armed forces, some additional demand
for travel will arise simply because of the larger incomes
of individuals. Restrictions on the use of passenger
automobiles also contribute to the rise in railroad passenger miles although this is merely a substitution of one
form of transport for another.
Table 6.—Volume of United States Transportation, Quarterly
[Quarterly averages; 1935-39=100]
Item
Transportation
Last year rising production, the task, of moving
and supplying the armed forces, and a higher level of
national income brought about sharp increases in all
forms of transport over 1941 levels. The total volume
of transportation during 1942, as measured by the
Department of Commerce's combined ton miles and
passenger miles index (1935-39=100), reached the peak
level of 179. During the first quarter of 1943, the
index, seasonally adjusted, was 28 percent above the
same quarter of last year. Many transport agencies,
however, are already utilizing their equipment at or
near capacity. Hence the gains in the last three
quarters of this year over the same periods of 1942
cannot be expected to continue as high as 28 percentThe transportation industry will be confronted in
1943 with the task of moving even more passengers and
greater tonnages than last year. With respect to commodities alone, it is currently estimated that total tonmileage will be 12 percent greater than 1942. This forecast covers all tonnages transported by rail, "for hire"
motortruck, oil and gas pipe lines, air, and in domestic
water-borne commerce. During the first quarter of
1943 total commodity traffic was about 20 percent above
the corresponding period of 1942. The estimate for the
remainder of the year is based on the transportation
volume expected to arise from the forecast volume of
industrial and agricultural output. Studies by the
Office of Civilian Supply of the War Production Board,
the Office of Defense Transportation, and other agencies
indicate that despite the increasing shortages of man
Mav 1943
Total.
Commodity !_
Commodity, excluding local
transit..
Railroads
Intercity motortruck
Air,
Water-borne (domestic)
Oil and gas pipe lines
Passenger 2
Passenger, e x c l u d i n g l o c a l
transit
Railroads__
Intercity motorbus
T
Air
Local transit
1942
1941,
4th
quar- 1st
2nd 3rd
quarter quar-
149
153
158
159
175
176
187
185
153
154
176
230
116
138
135
162
167
174
279
98
135
152
181
196
174
307
72
133
170
157
148
157
308
115
186
176
184
363
124
215
213
208
311
130
1943,
1st
4th quarter
201
192
193
205
195
368
72
142
194
194
188
201
205
214
439
60
150
215
243
265
218
244
148
296
325
241
276
145
317
334
280
344
160
207
209
214
507
71
150
231
1
2
Based on ton-miles for each of the transport agencies indicated.
Based on passenger-miles for each transport agency shown except for local transit,
which is based on number of passengers.
Source: U. S. Department of Commerce.
Railroad Freight.
Ton-miles of commodities handled by the railroads
this year are expected to aggregate about 710 billions,
or 11 percent above the 638 billion total of 1942. In
the first quarter of 1943, rail ton-miles were 25 percent
above the same period of 1942. The gains during the
remainder of the year will undoubtedly be much smaller.
The railroads have done an excellent job not only in
handling their normal share of war period freight but
also in taking on much of the tonnage diverted to tbern
by the decline in coastal and intercoastal shippin;?.
Heavier loadings, particularly in the case of less-thancarload freight, as well as increased operating efficiency,
account for this showing. But if the roads are to move
the volume of freight likely to be offered them during
the balance of the year, they will have to maintain or
even improve their already high degree of efficiency.
They will also need some additional new equipment.
May 1943
SURVEY OF CURRENT BUSINESS
9
Furthermore, they must be spared the disruptive
effects of any prolonged industrial disputes causing1
traffic delays.
new lines should lift the performance of all trunk and
gathering lines about one-fifth above 1942.
Motortruck Intercity Ft eight.
Domestic water-borne commerce, consisting of coastwise and inland traffic, will probably be about 5 percent
lower in 1943 than in the preceding year. The sharp
gains expected in river traffic will be more than offset by
a sharp decline in coastal trade and the almost complete
stoppage of normal commercial iritercoastal traffic.
As a result of submarine warfare, and diversion of
vessels to foreign trade, coastal and intercoastal
traffic declined severely during 1942, with the fourth
quarter ton-miles being SO percent below the level of
the first quarter. Slight gains from the low fourth
quarter level may be expected this year, and total
ton-miles in this trade are estimated at 50 percent
below 1942.
The performance of the Great Lakes fleet in meeting
the high goals set for it this year will be mainly dependent on weather conditions. The severe cold spell
this spring, which kept the upper lakes closed to traffic
throughout April, dampened the expectations of a
record breaking movement on the Great Lakes, However, with the iron ore carrying capacity increased by
16 new vessels and with an anticipated large volume
of petroleum shipments, the tonnages lost thus far
may be made up during the rest of the season. Total
lake tonnages will probably show little if any increase.
The brightest picture in water-borne commerce is
presented by the traffic on rivers. The construction
of new barges is being pushed with the promises of
the heaviest petroleum movement by the carriers on
record and some diversion of other bulk commodities
from the hard-pressed rail and motor carriers. The
total river performance may be as high as 20 percent
above last year.
Diminishing rates of gain are evident in transportation as well as in industry. The 26 percent gain in
total transportation during 1942 over 1941 was achieved
principally by bringing into use reserves of manpower
and equipment and by lifting operating efficiency to
peak levels. In 1943, with manpower and operating
efficiency already near maximum levels and with existing equipment employed in most cases close to capacity,
the estimated 16 percent gain expected over 1942
must come largely from three factors: (a) Further
increases in operating efficiency, (b) the timely
addition of new equipment, and (c) adequate manpower. Three other factors are also essential to a
further increase in the volume of transportation this
year: (1) Adequate repair parts, rubber, gasoline, and
other supplies necessary to the maintenance of a high
rate of operation, (2) weather not unfavorable to air
and Great Lakes traffic, and (3) freedom from interruption due to industrial disputes. Since demands for
transportation will outrun supply in 1943, it is probable
Intercity motortrucks for hire also are shouldering
a larger burden. Truck ton-miles increased 23 percent
during the first quarter of this year compared to last,
despite the fact that longer hauls have been discontinued and some through-traffic thus diverted to the
railroads. A large portion of truck freight now
consists of war goods. This portion may naturaly be
expected to increase during the rest of the year.
Furthermore, farm marketings are also expected to be
greater this year than in 1942. Hence intercity
motortruck ton-mileage (excluding private trucks) in
1943 is likely to rise about 15 percent over 1942.
Private motortruck transportation, however, is very
apt to decline. Hence total motor freight, including
private, will show little if any increase.
Many difficulties will confront the trucking industry
in attempting to handle this larger volume. The
increase in traffic has resulted in less time for maintenance of equipment, and if manpower and parts
become much scarcer, motor carriers will find it increasingly difficult to haul their share of the traffic.
Air Freight.
By far the largest percentage increase in freight
movement during 1942 occurred in air transport—72
percent over 1941. This was due largely to sharp increases in air mail pound-miles. The upward trend
in air freight continued during the first quarter of
1943 when the ton mileage flown was 80 percent larger
than in the 1942 first quarter. For 1943 as a whole,
present indications point to an increase of about onehalf over 1942. Whether or not this large gain is
actually achieved will depend principally on the
extent to which operating efficiency can be raised
from its already high level as well as on how much
new equipment, if any, the airlines can obtain during
the year.
Pipe Lines.
The curtailment of the heavy pre-war tanker shipments of petroleum products to the East Coast, combined with war needs for these products in the East,
has necessitated a large-scale diversion of petroleum
shipments to all other forms of transport. Much of
this diversion is being borne by pipe lines. New construction alone, including the new 24-inch crude oil
and the 20-inch refined products pipe lines from Texas
to the eastern seaboard, is expected to result in an
additional 13 billion ton-miles this year. This assumes
completion of the pipe lines on schedule and a rapid
achievement of near capacity operations. Increased
use of existing lines along with the contribution of the
Domestic Water Transportation.
SURVEY OF CURRENT BUSINESS
10
that additional restrictions and perhaps even allocation
may become necessary, especially covering passenger
travel, in order to curtail noiiessential traffic.
Mav 1943
volume of construction than heretofore available. For
example, the marked seasonal fluctuations in certain
types of building during previous years have recently
been offset to a considerable degree by the shift to
military and industrial building where seasonal variations are less prominent. The series of quarterly
estimates introduced last year was designed to meet the
need for more frequent construction data, but developments of the past few months have shown that it fails
to provide sufficient information for detailed analysis
of the effects of priority and other regulatory measures
on the various segments of the industry.1 Quarterly
data also fail to portray currently the changing composition of construction during the different stages in
the conversion of the industry to an all-out war basis.
In recognition of these needs, the Bureau of Foreign
and Domestic Commerce has developed a series of
monthly estimates of construction activity from Janu-
Construction
The sharp decline in new construction activity in
continental United States, which began in the latter
part of 1942, continued throughout the first quarter
of 1943. Although this decline can be attributed in
part to seasonal variation and in part to the fact
that the expanding volume of American construction
overseas is not included in the figures, the chief contributing factor is the progressive completion of the
large war construction program undertaken last year.
In addition, construction has been curtailed because of
diversion of increasing amounts of critical materials
to the manufacture of weapons and supplies.
Rapidly shifting trends in the construction industry
emphasize the need for more frequent measures of the
1
See table 7 for the latest quarterly estimates of construction since 1939.
Table 7.—New Construction Activity, Continental United States, 1939-42
[In millions of dollars]
1940
1939
Item
I
Total new construction
1,372
Total private
695
1
Residential building (nonfarm)
...
427
Nonresidential building 2
142
Industrial
35
All other
107
Farm construction
23
Residential
13
Nonresidential
10
Public utility
103
T otal public
677
Residential
5
Military and naval 3 4
17
Nonresidential4 building
283
Industrial
4
Allother
279
Highway
212
Sewage disposal and water supply60
All other Federal
80
Miscellaneous non-Federal
public j
5
service enterprises
II
III
1,531
884
528
171
54
117
68
39
29
117
647
13
24
225
3
222
213
72
75
!
1,638
1,021
559
208
65
143
101
58
43
153
617
23
33
144
3
141
241
69
81
IV
1,309
780
420
175
68
107
25
15
10
160
529
31
47
101
11
90
199
45
86
6,045
3,530
2,046
732
227
505
226
130
96
526
2,515
76
119
762
14
748
884
257
326
1,504
930
532
211
73
138
34
20
14
153
574
35
45
110
4
106
218
56
90
26 !
I
I Total
rotal
20 j
III
1,632
1,053
596
230
96
134
74
44
30
153
579
53
52 i
1,906
1,224
691
265
100
165
110
65
45
158
682
61
60
92 J
9 i
145
83 |
229
36 !
87;
94
264
32
89
30 |
31
51
!
IV
I Total !
I
I
II
III
IV
6,986
4.232
2,359
982
423
559
246
146
100
645
2,754
205
510
497
144
353
945
143
353
2,278
1,016
508
327
188
139
30
18
12
151
1,262
75
580
237
165
72
220
29
96
2,573
1.323
740
318
156
162
90
53
37
175
1,250
118
318
400
336
64
255
30
97
3,162
1,569
902
327
146
181
135
79
56
205
1, 593
158
491
492
423
69
281
29
107
3,132
1,353
731
334
188
146
45
26
19
243
1,779
128
670
542
476
66
257
27
125
2,139
1,175
652
312
159
153
37
22
15
174
964
60
351
159
73
86
253
30
91
20 I
101
35 I
Total
30 I
11, 145
5,261
2,881
1.306
678
628
300
176
124
774
5, 884
479
2,059
1,671
1,400
271
1,013
115
425
122
1942
Item
First quarter
Third quarter
Second
Fourth quarter
Total
Jan.
Total new construction
Total private
Residential building (nonfarm) J_Nonresidential building 2
Industrial
All other
Farm construction
Residential
Nonresidential
Public utility
Total public
Residential
Military and naval 3 4
Nonresidential4 building
Industrial
Allother
Highway
Sewage disposal and water supplyAll other Federal
Miscellaneous non-Federal
public
service enterprises 5
1
2
3
4
5
Feb.
765
290
146
79
42
37
5
3
2
60
475
34
162
181
163
18
40
9
41
797
271
141
61
30
31
7
4
3
62
526
33
182
228
211
17
35
9
32
8
7
June
Total
July
Aug.
Aug.
Sept. Total
Sept.
955 2,517 1,088 1,143 1,211
236
306
867
331
290
100
181
468
208
162
41
50
190
43
40
24
23
95
19
20
17
27
95
24
20
33
10
22
17
25
19
6
13
10
15
14
4
9
7
10
62
65
187
63
63
975
649 1,650
757
853
46
38
105
41
43
491
285
629
359
393
325
237
646
253
304
312
221
595
238
290
13
16
51
15
14
71
42
117
57
71
10
10
28
10
10
27
30
103
31
27
3,442
857
470
124
63
61
75
44
31
188
2,585
130
1,243
882
840
42
199
30
85
1,403
221
92
41
28
13
27
15
12
61
1,182
48
649
370
359
11
75
10
25
1,486
1,415
221
98
41
30
11
22
13
9
60
215
95
41
31
10
19
12
7
60
1,265
1,200
56
681
417
408
9
72
10
25
71
626
403
395
8
65
9
22
68
40
28
181
3,647
175
1,956
1,190
1,162
28
212
29
72
4
4
13
Mar.
7
Total
22
Apr.
Apr.
6
May
5
16
4,304
657
285
123
89
34
Oct. I Nov.
Nov.
1,274
200
92
37
29
8
15
9
6
56
1,074
66
523
389
382
7
62
9
22
Dec.
Dec.
168
80
31
23
8
10
6
4
47
955
61
497
330
324
6
47
7
11
889
128
65
22
16
6
5
2
3
36
761
63
358
286
282
4
30
5
17
2
2
1,123
Total
3,286
496
237
90
68
22
30
17
13
139
2,790
190
1,378
1,005
988
17
139
21
50
13, 549
2,877
1,460
527
315
212
195
114
81
695
10, 672
600
5, 206
3, 723
3, 585
138
667
108
310
58
Estimates of private nonfarm residential building prepared by the Bureau of Labor Statistics; monthly estimates for 1942 based upon quarterly data.
Excludes nonresidential building by privately owned public utilities.
Includes cantonments, aeronautical facilities, navy yards and docks, Army and Navy hospitals, etc.
Beginning 1941, based upon data prepared by the Construction Research Section of the Statistics Division of the War Production Board.
Includes construction expenditures for such municipal enterprises as electric light and power plants, street railways and other transit systems, gas systems, ports, dock
harbors, ferries, airports, terminals, etc.
SURVEY OF CURRENT BUSINESS
May 1943
ary 1942 to date.2 No attempt has been made to adjust
the series for seasonal variation since the period covered
by the estimates is short and since there is evidence
of a definite dampening of seasonal fluctuations during
the war period.
The total volume of new construction rose steadily
from 765 million dollars in January 1942 to a peak
of 1,486 million dollars in August. The chief types
of building represented in this increase were military
and naval construction which rose 420 percent and
industrial building which gained 250 percent. Other
types of construction—such as public housing, access
highways, and service connections—also increased
somewhat during this period as a direct result of the
rapid expansion in war construction. The remaining
types of building began in the early part of 1942 to
reflect the diversion of men and materials to w^ar construction. Thus these types of construction showed a
fairly steady decline in dollar volume that has continued into 1943.
Chart 8.—New Construction Activity, Excluding Work-Relief
Construction, in Continental United States
BILLIONS OF DOLLARS
5
Qu.
Qu.
Qu.
1939
1940
Sources: U. S. Department of Commerce, War Production Board, and U. S.
Department of Labor (see also Table 7, p. 10).
From the August peak all types of construction
activity have declined. By March 1943 the estimated
total had dropped to 702 million dollars, less than
half of that recorded 7 months earlier. Although
the volume directly related to the war is considerably
larger for the first 3 months of 1943 than for the
corresponding period last year, the March figures are
slightly lower than a year ago. The 271 million dollars
expended for military and naval construction in
March is only 40 percent of that spent last August.
Similarly, the 210 million dollars of publicly financed
industrial building represents a drop of 50 percent
in the same period. Total nonfarm residential building
continued the downward trend evident throughout most
of 1942, despite some increase in publicly financed
structures.
In March 1943, for the thirteenth consecutive
2
These estimates will appear currently in the monthly statistical section of the
Survey of Current Business.
11
month, military and naval building accounted for the
largest share of total new construction activity. The
271 million dollars spent on military and naval facilities
in March constituted nearly 40 percent of the total.
Industrial facilities were another large segment of total
construction during March, with 30 percent of all
expenditures going for such structures. Residential
building, the chief component of construction activity
during the latter part of 1941, represented less than
16 percent of the March 1943 total. All other types
of construction are included in the 103 million dollars
constituting the remaining 14 percent of the March
construction volume.
The continual shift in the relative importance of
these different types of construction from 1939 to
date is illustrated by chart 8. The extent of the
changes may be noted by ranking the components according to the magnitude of their value in the first
quarter of 1939 and comparing the results with a
similar alinement made for the corresponding period in
1943. The four groups are found to have completely
reversed their positions during that time.
Another clearly defined shift has occurred during the
last 2 or 3 years in the means of financing new construction. In 1939 and 1940 the ratio of privately
financed construction fluctuated between one-half and
two-thirds of the total. For three of the four quarters
of 1941 the proportion dropped below 50 percent, and by
the end of the first quarter of 1942 it was less than
one-third. This ratio continued to decrease until
August, when only 15 percent of all construction was
privately financed. It then remained fairly constant
for the following 7 months.
That the present downward trend of construction
activity will continue is suggested by the activities of
the central facility clearance agencies of the War Production Board. Responsibility for curtailing construction was placed in the hands of the Facility Clearance
Board and the Facility Review Committee last October.
The former, a group of senior representatives of the
principal war agencies, determines the essentiality of
new construction projects costing more than $500,000.
The Facility Review Committee passes on the essentiality of new projects costing between $100,000 and
$500,000, and, in addition, reviews all construction
previously approved to determine whether the continuation of these projects is justified.
By March 26 the Facility Review Committee had
revoked priority assistance to less essential construction
projects having a total value of 1,325 million dollars and
had disapproved new projects having an estimated total
value of 22.5 million dollars. In addition, the Facility
Clearance Board had disapproved new projects having
an estimated cost of 63 million dollars. These figures
do not disclose the full effect of the activities of the
clearance agencies, for a sharp reduction of applications
has been noted in recent weeks. This is attributed in
12
SURVEY OF CURRENT BUSINESS
May 1943
demand for meat during the entire year 1943 may be as
high as 160 pounds per capita, whereas not more than
128 pounds will be available for distribution. Similarly, there will be only about 46 pounds of fats and oils
Food Supplies
(including butter) to meet an expected demand of 55
pounds per person.
Per capita civilian food supplies this year will be
In addition, it is anticipated that scarcity of one
slightly larger than the average amount available during commodity will result in increased demand for substipre-war years 1935-39 but 6 percent smaller than in tutes. For example, with an adequate supply of meat,
1942. This forecast by the Department of Agriculture the demand for cheese would probably be around 7
is based on the "Prospective Plantings" Survey made pounds per person, and for chickens around 26 pounds.
annually in March and on the assumptions of average Inability to obtain meat, however, will expand the
weather and a continuation of the present trend in live- demand for these meat substitutes. As a result, civilstock production. Total production of food for human ian demand for cheese may reach 10 pounds per person,
consumption is expected to exceed the average for the in contrast with an estimated supply of only 5.7
1935-39 period by 31 percent and to exceed 1942 record pounds.
production by about 3 percent. The increase over 1942
The amounts of various food products available for
will, of course, more than be absorbed by military and civilian consumption in 1943 on a per capita basis are
lcnd-lease requirements, which will account for at least shown in table 8. The 1943 estimates have recently
20-25 percent of the total food output.
been revised. Preliminary forecasts made earlier in
the year were based chiefly on the 1943 farm output
Table 8.—Per Capita Civilian Supplies of Selected
Food goals. In most cases the revisions have been down1
Products, 1935-39 Average, 1942, and 1943
ward. For example, earlier estimates based on pro[Pounds]
posed goals indicated that there would be 138 pounds
of
meat per person, 49.1 pounds of fats and oils, 66.4
I
i
j
! 1943 as percent
!
I
i
ofpounds of citrus fruits; the revised estimates for these
Commodity
I 1935-39 ; 1942
1943 I
commodities are 124, 46.4, and 53.9 respectively. For
a few commodities, notably canned fruits and vegeTotal meats (dressed weight)
tables, the preliminary estimates of supplies available
2126 !
Fish
.
() I
Poultry products:
in 1943 were raised slightly.
Eggs
.
Chickens and turkeys
It has been clear for some time that the diet of the
Dairy products:
Butter, farm and factory
,
civilian
population must be adjusted to the available
Cheese
|
Condensed and evaporated milk
supplies
of foods. Grains are in plentiful supply;
Fluid milk and cream
Fats and oils (excluding butter)
there
will
be more wheat, rye, oats, and barley tha11
Fruits:
Fresh (excluding
melons)
in either 1942 or the prewar period, 1935-39. The
Canned fruits 3
Canned juices
same is true of poultry products, lard, and margarine.
Vegetables:
Fresh (including
melons)
These
products must substitute for meats, butter, fresh
3
Canned
Potatoes (white)
fruits
and vegetables, and other scarce commodities.
Sweetpotatoes
S *
Under existing rationing regulations, there will also be
a more nearly equal distribution of the commodities
that are scarce.
Farmers, of course, granted favorable weather, have
still to meet the problems of scarce labor and farm
lend-lease
food requirements.
machinery. The labor situation has been eased some-2
Data not available.
3
Pack
year
basis.
what both by the recent selective-service regulation
4
Refined bajis.
5
Includes wheat, rye, rice (milled basis), corn, oats, barley, malt liquors, mal
regarding
the deferment of farm workers of military
extracts, and other food products.
age and by the measures taken to induce men over 38
Source: U. 8. Department of Agriculture.
engaged in less essential occupations to shift to more
Civilians apparently will have an adequate diet in essential jobs. Shortages of machinery are still acute,
1943 when compared with earlier years, yet there is no however, particularly in those areas where rapid exdoubt that they will not have all they may wish and can pansion in the production of certain crops, such as
purchase. Present estimates indicate that the civilian soybeans, has taken place in the last few years.
part to the effectiveness of the curtailment program and
to the recognition by sponsoring agencies of their
responsibility not to request nonessential construction.
May 1943
SURVEY OF CURRENT BUSINESS
13
Price Deflators for Consumer Commodities
and Capital Equipment, 1929-42
By Henry Shavell
Ag indicated in previous articles, the Bureau of
JLlLForeign and Domestic Commerce has in progress
a comprehensive study of national product. In its
final form, this study will provide detailed estimates of
the values of all final goods and services annually
produced, in both current and constant dollars. Because of the usefulness of these data, segments of the
study are being released as they become available.
Preliminary estimates of the gross flow of finished commodities, new construction, and of consumer expenditures for most types of services have already been
published.1
The completion of the detailed commodity flow
estimates will make possible a more refined adjustment for price changes than has hitherto been the case.
In the present article, there are made available for the
first time a series of comprehensive price indexes designed for deflating consumer expenditures for new
commodities and business expenditures for capital
equipment. Similar price deflators for other segments
of the national product (i. e., construction activity,
services, etc.) are now in preparation and will be
presented at a later date.
Heretofore it has been customary to convert the
current dollar value of national income or national
product to real terms by the use of existing price indexes.
For example, the Bureau of Foreign and Domestic
Commerce has previously employed combinations of
the Bureau of Labor Statistics index of cost of living,
the Bureau of Agricultural Economics index of prices
paid by farmers for subsistence goods, and the National
Bureau of Economic Research wholesale price index of
capital equipment for national income and national
product deflation. The various alternatives along
these lines have been described by Prof. Simon Kuznets.2
The rationale for these crude methods of correction
for price changes was essentially one of expediency,
in that more suitable price deflators were not immediately available. It has long been recognized, of course,
that existing price indexes (or their combinations)
are not entirely appropriate for national income or
national product deflation because of two fundamental
reasons, both stemming from the fact that such
indexes are specifically designed to represent particular
segments or types of expenditure. First, the weights
1
Cf. Shaw, William II., "The Gross Flow of Finished Commodities and New
Construction, 1929-41," Surrey of Current Business, April 1942, pp. 1.3-20, and Demson, Edward F., "Consumer Expenditures for Selected Groups of Services, 1929-41,"
Surrey oj Current Business, October 1942, pp. 23-30.
2
Of., for example, his "National Income and Its Composition, 1919-1938," National
Bureau of Economic Research, 1941, vol. I. pp. 141-146.
assigned to the various commodities or services in the
existing indexes do not correspond to their relative
importance in the national expenditure. Second, many
items in the national product are not covered, either
directly or indirectly, by existing price indexes. It will
be the aim of the deflation procedure finally adopted by
this Bureau, as it is the aim of the indexes covering
commodity flow presented here, to remedy these two
principal defects.
It is often desirable, moreover, not only to measure
changes in the real content of aggregate finished commodity flow but also to measure changes in the flow
of the component groups. The broader budgetary
classifications employed in the published indexes of the
Bureau of Labor Statistics and Bureau of Agricultural
Economics do not make possible such detailed measurements. The more complete detail afforded by the
present price indexes will permit separate price correction for each of the minor commodity flow groups.
Considerations in the Construction of Price Deflators.
If complete and accurate data were available, a
measure of the real flow of commodities could be obtained either by counting up the actual quantities of
the goods produced, weighted by various sets of prices,
or by deflating the current money values of the same
goods by appropriate price indexes.
Practical considerations, however, dictate the adoption of the deflation technique. Firstly, quantity data
for the bulk of finished commodities are either not
available or are too fragmentary to merit consideration.
On the other hand, price quotations are available for
the major portion of gross commodity flow. Secondly,
it is more reasonable to assume that the average price
changes of those commodities not directly covered by
specific price quotations would be approximated by
the average price movements of closely analogous
commodities, than to make a similar assumption with
regard to average quantity movements. Lastly, adjustments for price comparability—arising from new
commodities, quality changes, etc.—are more easily
handled than adjustments for quantity comparability."
To obtain a strictly accurate measure of real commodity flow by means of deflation, the price deflators
to be employed should be based upon (a) final prices
paid—i. e., retail prices, inclusive of all taxes; (b)
3
For a few standardized commodities (coal, gasoline, etc.). the construction of
physical quantity indexes may, in the future, prove more feasible than price deflation
in measuring real changes. In such instances, this procedure will be employed in the
final estimates.
14
SURVEY OF CURRENT BUSINESS
prices that are comparable through time—i. e., not
affected by quality changes;4 and (c) prices that cover
each item entering into the given current value composite.
As is well recognized, however, these ideal specifications cannot be filled precisely, because of the imperfections inherent in all price quotations. Strictly
speaking, to the extent that a price index does not
take full account of the collateral terms of sale—i. e., discounts, guarantees, free services, and other formal
price modifiers—its validity as a deflator is accordingly
lessened. The same is true in cases where the qualitychange element has not been satisfactorily removed;
the latter factor is especially significant in the case of
durable goods, such as radios, automobiles, refrigerators, and capital equipment. Also, for certain commodities included in the current dollar commodity
flow series retail price quotations are not available.
As outlined in the April 1942 Survey of Current
Business, the method of estimating finished commodity
Chart 1.—Percentage Change in Prices of Consumer
Commodities and Capital Equipment, Between Selected
Years
May 1943
thereby yielding a more substantial basis for appraising
the validity of the resulting real commodity flow series.
In combining the various prices, the chief alternatives
are to employ weights corresponding to the quantities
purchased either (a) in the base year or (b) in the given
year. If the first alternative is chosen, the procedure
corresponds to the fixed weighted or Laspeyre formula,
2VQ
given by ^z~r where p0 and g0 represent, respectivelv,
^Po^o
the prices and quantities purchased in the base year,
and pi and qi the prices and quantities prevailing in
any given year. If the given year weights are used, the
procedure follows the variable weighted or Paasche
It is well established that
formula, shown by „
<poqi
neither index would yield the "true" price change, but
when used separately would provide upper and lower
limits between which the "true" price change would
lie.5 Irving Fisher's "ideal" formula is an attempt to
approximate the position of the "true" change by
averaging the fixed and variable weighted indexes
geometrically; it may be represented by
V^A
PERCENT
+ 40
Although the "ideal" index is still essentially an
expedient, it is useful as a "shorthand" approximation
to the desired price change when the divergence between
the fixed and variable weighted index numbers is small.
+ 20
Price Deflators for Finished Commodities.
-40
1929-33
1933-37
1937-39
1939-42
DD 43-227
Source: U. S. Department of Commerce.
Price indexes for consumer commodities at retail,
at wholesale, and for capital equipment at wholesale 6
are given in tables 1, 2, and 3, respectively. The
classifications employed in the construction of the
indexes were, naturally, conditioned by those used in
the present study of national product. A brief description of these classifications was given in the April 1942
Survey of Current Business.
expenditures involved securing commodity data at
It should be emphasized that the indexes are not
manufacturers' prices and tracing their flow' through the product of independently collected price data
the entire distributive system. The consequent avail- but are constructed from existing price information
ability of estimates at both wholesale and retail levels in a manner appropriate for deflating specified segmakes deflation possible at either or both levels. If ments of commodity flow. Most of the retail price
both sets of price quotations are equally representative, indexes are recombinations of the relevant components
deflating consumer commodity expenditures at whole- of the Bureau of Labor Statistics index of cost of living
sale by appropriate wholesale price indexes and marking and of the Bureau oi Agricultural Economics index of
up the deflated figures by constant base year average prices paid by farmers, utilizing the detailed weighting
retailers' mark-ups should result in the same final factors developed in the national product study.
cost deflated series as that obtained by retail price
5
Cf. especially Hicks, J. R., "The Valuation of the Social Income," Economica,
deflation of consumer expenditures at final cost. HowMay 1940, pp. 105-124; Frisch, Ragnar, ''Annual Survey of General Economic Theory:
ever, by deflating the wholesale as well as the retail cur- The Problem of Index Numbers," Econometrica, January 1936, pp. 1-38; Allen, R. G.
rent value series, two important advantages are gained: D., "The Nature of Indifference Curves," Review of Economic Studies, February
pp. 110-121; and Staehle, Hans, "A Development of the Economic Theory of
(a) commodities for which retail prices are not available 1934,
Price Index Numbers," Review of Economic Studies, June 1936, pp. 163-188.
can often be priced at the wholesale level; (b) two 6 The "wholesale" prices of capital equipment are here assumed to represent final
levels. Generally speaking, this is true. The buyer of a capital good does not
independently derived deflated series are obtained, cost
ordinarily purchase it from a retail outlet, but either from the manufacturer directly
* It is important that quality changes are not removed in the deflating process,
since a change in quality represents a change in real content—i. e., quantity.
or from a wholesale house. A considerable portion of expenditures for farm machinery and implements and for business motor vehicles does take place in retail
establishments, however.
SURVEY OF CURRENT BUSINESS
May 1943
Generally speaking, price quotations obtained Irom
these two sources for corresponding commodities were
combined in accordance with the 1935-36 expenditures
of urban and rural populations, respectively, for the
given items as developed in the National Resources
Planning Board Study of Consumer Purchases.7 To
illustrate: The Bureau of Labor Statistics cost-of-living
component for shoes was assigned the full weight of
urban family expenditures for all shoes; similarly, the
Bureau of Agricultural Economics prices-paid-byfaimers shoes component was weighted by rural and
rural-nonfarm expenditures for all shoes.
For those commodities not represented separately in
the classifications of the Bureau of Labor Statistics or
Chart 2.—Retail Prices of Consumer Commodities
INDEX, 1939=100
140
ALL CONSUMER COMMODITIES
130
\
\ \
RETAIL PRICES OF CONSUMER COMMODITIES 1
1 I0
PRICES PAID BY FARMERS2/
\
100
"COST OF LIVING IN LARGE CITIES 2/
90
80
140
ALL CONSUMER COMMODITIES OTHER THAN FOODS
130
RETAIL PRICES OF CONSUMER COMMODITIES 1/
J20
1 I 0
\
PRICES PAID BY FARMERS 2J
,''*'ls£T*
100
fc£
COST OF LIVING IN LARGE CITIES 1
90
80
1929 1930 1931 1932 1933 1934 1935 1936 1937 1938 1939 1940 1941 1942
1 Computed by U. S. Department of Commerce; see text for details.
2 U. S. Department of Agriculture index of prices paid by farmers for commodities
used for family maintenance adjusted by the U. S. Department of Commerce to
exclude building materials and shifted to a 1939 base.
3
U. S. Department of Labor index of cost of goods purchased by wage earners and
1 ower-salaried workers in large cities adjusted by the U. S. Department of Commerce
to exclude services. This was done by eliminating rent, gas, and electricity and
reducing the weight of the "Miscellaneous" component to its commodities only.
The resultant series was then shifted to a 1939 base.
Bureau of Agricultural Economics, price data were obtained where possible from the relevant components of
the Fairchild Retail Index, from the General Merchandise
Office of Sears, Roebuck & Co., the mail-order catalogs
of the latter company and of Montgomery Ward & Co.,
and from other sources as specified in the appendix.
In cases where specific price quotations for given comfcj Cf. "Family Expenditures in the United States," National Resources Planning
Board, June 1941, section 3, tables 86-94.
15
modities were not available from any of these diverse
sources, the respective weights of such commodities
were assigned to the prices of interrelated or closely
analogous commodities.
The wholesale price consumer commodity indexes
were based almost entirely upon data obtained from
the Wholesale Price Division of the Bureau of Labor
Statistics. This Division has on file several thousand
additional wholesale price series not presently included
in their published Index of Wholesale Prices but which
were made available for the present study. This
source, as well as data from the Bureau of Valuation
of the Interstate Commerce Commission, was also
employed in the construction of the capital equipment
indexes.
A detailed description of the sources and prices
included by minor commodity groups is given in the
appendix.
The minor commodity group price indexes were
constructed using fixed weights only (Laspeyre formula). The weights employed for both the wholesale
and retail indexes were developed in the Bureau of
Foreign and Domestic Commerce and were based on
the 1939 expenditures for the individual commodities
priced, related to total expenditures for finished commodities in that year.8 There were 2 reasons for not
computing variable weighted minor commodity price
indexes (Paasche formula). First, reliable information
regarding the relative importance of the individual
components of the minor commodity groups was not
available for the entire period covered. Secondly,
because of the relative homogeneity of the minor
groups, the use of fixed weights only seemed justifiable
on grounds of expediency.
The major commodity group indexes are combinations of the minor commodity groups employing both
fixed and variable weights.9 The resulting two sets of
indexes (shown at the bottom of tables 1, 2, and 3)
were then averaged geometrically to obtain a set of
Fisher's "ideal" indexes, which are shown in the body
of the three tables. As mentioned above, such a procedure is permissible when the differences between the
two indexes are not large. It should be noted, however, that the "ideal" indexes are ideal only to the extent
that each minor commodity group is assumed to represent a homogeneous entity. It is not believed that
the indicated "ideal" indexes differ significantly from
s These weights correspond to the commodity values at manufacturers' prices as
given in "The Output of Manufactured Commodities," Bureau of Foreign and
Domestic Commerce, 1942.
9 The variable weighted (Paasche formula) major commodity group indexes were
derived in a somewhat unorthodox fashion but which yield identical results with those
calculated in the "orthodox" manner: A set of wholesale and retail current dollar final
cost estimates for the individual commodity groups from 1929 through 1942 (a revised
version of the preliminary estimates presented by William. H. Shaw, op. cit., p. 16)
were first deflated by their respective price indexes and then summated for the major
groups; by dividing the major group current dollar totals by their deflated dollar totals,
major group price indexes were thereby obtained. Thus, using this procedure, the
individual minor commodity group indexes were automatically weighted by their
relative importance for each year, resulting in the variable weighted indexes shown at
the bottom of tables 1, 2, and 3.
16
SURVEY OF CURRENT BUSINESS
those that would have been obtained had the minor
commodity group indexes been computed both ways.
A comparison of the variable and fixed weighted
indexes brings out several interesting points. For one
thing, the differences between the two sets of composite
indexes are small enough to suggest that the constancy
of consumption patterns over the entire period 1929
through 1942 is a workable assumption. Secondly,
the divergence appears to grow progressively greater
with the time span between 1939 and the year compared.
Thirdly, the deviations between the two sets are
relatively greater for the consumer durable commodities than for the semidurable or perishable commodities. (See tables 1 and 2.) This variation in the deviations is explained by the more intense fluctuations in
consumer expenditures for durable commodities and
by the greater proportion of new commodities in the
durables group-—i. e., the influx of radios, refrigerators, electrical appliances, etc.
As suggested in chart 1, the index of wholesale consumer commodity prices fluctuated somewhat more
intensely than the index of retail prices for the periods
compared. This, however, does not negate the point
made above, namely, that wholesale and retail type
deflation should result in substantially the same deflated
series if both indexes are equally accurate. The reason
is that when the current value wholesale series is deflated
and marked up by a constant percentage, its degree of
fluctuation will be reduced. As noted in an earlier
article,10 the retail gross margins employed in estimating consumer expenditures for commodities were found
to vary inversely with the business cycle. This was
attributed in part to the relatively greater sensitivity
of wholesale commodity prices than of retail. Tims, in
order to obtain the same deflated series from the two
methods of deflation for consumer commodity expenditures, it follows that the wholesale deflators should
display wider cyclical swings than the retail deflators.
Comparisons With Other Indexes.
The annual movements of the consumer commodity
retail price indexes presented here, and of the comparable segments of the Bureau of Labor Statistics index
of cost of living and the Bureau of Agricultural Economics index of prices paid by farmers, are shown in
chart 2. The various adjustments made in the latter
two indexes, in order to exclude services and other items
not included in the retail price consumer commodity
index, are indicated in the footnotes to the chart.
As portrayed in the upper half of the chart, differences in the movements of the three indexes are small
in some years but are large enough in others to affect
significantly the deflation of commodity flow estimates.
It may be seen in the lower half of the chart that the
differences amonsj the indexes are greater when the
io Cf. Fowler, Bruce M., and Shaw, William II., "Distributive Costs of Consumption Commodities," Survey of Current Business, July 1942. p. 14.
May 1943
heavily weighted food component is eliminated. This
indicates that some of the individual components of the
three indexes differ materially and that deflation of
particular commodity flow segments require specifically
designed price indexes.
A comparison of the capital equipment price index
presented here with that of the National Bureau of
Economic Research reveals substantial differences in
movement (chart 3). It will be apparent from the
chart that, although the present index is less influenced
by cyclical variations from 1929 through 1939, the reverse is indicated from 1939 through 1942. This may
be explained by the fact that the National Bureau of
Economic Research index is heavily weighted by semimanufactured goods which enter into the construction
of capital equipment,11 whereas the present capital
equipment price index includes the prices of finished
commodities only. Thus, the greater sensitivity of the
former index from 1929 to 1939 may be attributed to
Chart 3.—Wholesale Prices of Capital Equipment
INDEX, 1939 = ICO
!2O
90
f s
C
\NATIONAL BUREAU OF
ECONOMIC RESEARCH V
8 0
1929 1930 193! 1932 1933 1934 1935 1936 1937 1938 1939 1940 1941 1942
DD 43-226
i Shifted to a 1939 base by the U. S. Department of Commerce.
the inclusion of semimanufactured commodity priceswhich are known to vary with greater amplitude than
prices of finished goods. The reverse situation, with
the National Bureau of Economic Research index rising
less rapidly than the present capital equipment scries
from 1939 through 1942, is undoubtedly due to the imposition of price ceilings on raw and semimanufactured
goods (metals, etc.) during 1940. Price ceilings on
machinery were not imposed until October of 194band.
early 1942.
Conceptual Limitations of Real Product Estimates.
The correction for price changes of current value
commodity flow has not been included here because final
current value estimates are not yet complete. Before
concluding the present article, it is well to mention
briefly the major difficulties that may arise in interpreting changes in real product estimates.
It is commonly recognized that the ultimate objective in measuring the real flow of national product is for
11
This index is based entirely on the Bureau of Labor Statistics index of wholesaleprices; for a description of its components, cf. Mills, F. C , "Prices in Recession and
Recovery," National Bureau of Economic Research, 1936, pp. 470-490.
17
SURVEY OF CURRENT BUSINESS
May 1943
Table 1.—Retail Price Deflators for Consumer Commodities by Minor Groups, 1929-42
[1939=100]
Commodity and commodity group
1929
2
130.8
123.9
106.9
92.5
131.5
124.5
105.6
92.2
138.9
134.7
147.1
110.2
118.5
128.0
119.6
101.0
127.2
158.5
101.7
130.6
124.0
143.9
103.8
117.8
127.2
122.9
99.8
123.9
150.5
101.0
106.8
103.3
113.8
105.9
115.9
121.9
108.3
99.0
105.9
146.8
93.8
88.3
85.4
94.2
105.9
111.4
119.7
94.4
97.7
100.9
128.1
94.7
116.2
120.4
115.4
112. 3
118.4
109. 5
93.5
112.8
91.3
128.3
122.3
124.8
136.4
122.3
147.2
128.5
119.5
120.3
129.3
115.0
127.8
124.3
119.5
131.7
123.8
110.5
97.8
93.4
97.1
95.4
96.7
100.9
101.2
100.0
101.8
109.1
124.8
149.4
118.0
125.1
133.4
141.4
152.1
123. 4
336.7
123. 3
123. 7
125.4
119.7
116. 2
102.6
142.6
118.4
118.2
127.9
134.8
145.6
110.3
234.1
114.6
116.4
125.4
116.7
112.7
103.1
119.2
104.7
99.0
122.9
121.7
139.9
105.2
159.1
104.8
108.5
118.8
114.7
107.3
103.1
96.4
86.5
85.8
106.4
102.6
129.2
92.4
111.7
98.8
103.3
113.5
104.5
103.1
101.8
95.2
89.8
87.1
104.2
92.6
113.6
89.4
100.9
89.9
104.2
111.4
104.8
96.8
101.6
103.9
98.7
96.5
101.9
93.2
108.9
93.9
108.1
89.4
112.8
85.7
112.7
96.0
100.3
96.9
99.5
93.8
107.4
94.3
98.8
94.8
106.3
91.1
103.3
84.5
108.9
95.2
100.8
98.2
100.4
96.8
104.6
94.0
99.5
97.9
106.1
92.4
104.1
86.7
116.3
96.1
101.1
105.7
107.8
102.5
101.1
100.0
99.7
102.3
108. 8
99.9
108.5
90.9
118.8
97.9
101.8
102.0
100.3
100.4
105.4
102.5
101.2
100.3
105.0
99.2
101.5
92.1
100. 5
99.0
101.9
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.2
105.6
103.2
104.4
91.5
99.1
101.5
98.1
101.8
111.1
111.2
104. 2
99.7
100.6
109.1
113.8
110.5
112.0
94. 3
101.3
106.5
102.6
105.9
116.7
114.9
123.4
101.3
101.7
126.9
125.4
125. 4
131.0
108.0
114.5
120.3
116.9
122.8
151.4
142.3
158. 5
101. 3
105.6
106.2
116.9
135.3
131.0
109.1
95.8
140.3
109.5
106. 2
107.8
134.2
131.5
104.0
93.6
131.7
105.4
105.1
110.0
118.2
124.5
99.1
81.6
112. 4
100.2
101.1
110.2
90.3
110.0
97.1
76.3
103.3
93.1
97.5
110.4
91.6
103.1
85.9
82.1
99.6
92.4
98.2
117.4
105.6
104.1
89.6
82.0
104.0
92.5
98.2
120.4
102.1
101.5
88.4
84.9
100.9
90.7
98.9
112.8
100.3
95.1
90.6
83.7
101.2
88.8
100.0
112.8
106.7
98.9
94.9
93.7
103. 0
96.6
99.6
105.4
103. 3
102.2
102.2
96.0
97.3
98.3
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
101.3
112.2
102.2
104.0
102.5
103.8
105.4
102.1
101.3
112.2
108.5
109.7
113.2
106.7
112.6
102.1
103.5
112.2
126. 7
123.9
130.7
136.9
133.7
114.6
All consumer commodities
Consumer perishable commodities
2
1. All foods
la. Manufactured foods and kindred products
2a. Nonmanufactured foods
3. Cigars, cigarettes, tobacco and smoking supplies
4. Drug preparations and household medical sundries.__
5. Toilet preparations and sundries
6. Cleaning and polishing preparations
7. Magazines, newspapers, and other printed matter
8. Stationery and writing supplies
9. M iscellaneous household paper products
10. Toys, games, and sport supplies
11. Manufactured household illuminating and heating products
12. Nonmanufactured household fuels
13. Gasoline and oil
Consumer semidurable commodities
14.
15.
16.
17.
18.
19.
Clothing and accessories
Shoes and other footwear
Personal furnishings
Dry goods and notions
Semidurable house furnishings
Semidurable toys and sporting goods
Consumer durable commodities
20.
21.
22.
23.
24.
25.
26.
27.
28.
29.
30.
31.
32.
33.
34.
35.
36.
37.
38.
39.
40.
41.
1
2
2
2
Household furniture
Floor coverings
Miscellaneous durable house furnishings and equipment.
Heating and cooking apparatus
Refrigerators, washing machines and sewing machines
Miscellaneous electrical household appliances
China, glassware, tableware and household utensils
Radio apparatus and phonographs
Pianos
Other musical instruments
Clocks and watches
Jewelry and sterling silverware
Books and other durable printed matter
Writ ing equipment
Ophthalmic products and surgical and orthopedic appliances
Monuments and tombstones
Luggage
Wheel goods, durable toys and sport equipment.,
Passenger cars
Replacement tires and tubes
Passenger car replacement parts and accessories
Pleasure craft
1930
1932
1939
1940
1941
101.7
100.0
101.1
109.2
125.4
101.8
100.0
100.8
109.2
124.8
102.2
102.3
102.1
98.6
99.4
99.8
97.8
99.6
100.6
101.9
100.5
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
101.0
100.2
103.0
102.6
99.8
100.0
99.1
100.4
104.3
99.6
104.4
111.7
111.4
112.3
104.6
101.0
101.7
100.7
100.2
104.3
102.4
106.8
130.8
129.5
133.7
107.5
105.3
113.6
107.2
102.7
124.1
125. 6
115.3
105.3
100.3
106.2
103.2
100.4
103.8
100.0
100.0
100.0
99.6
102.0
98.1
103.4
107.4
103.1
111.7
113.7
108.3
100.8
105.0
101.5
100.0
101.6
109.0
128.2
100.4
97.2
100.7
106.0
106.8
106.9
104.6
101.0
103.2
108. 5
112.2
114.3
101.3
101.3
99.7
102.4
102.2
109.2
100.0
100.0
100.0
100.0
100.0
100.0
101.7
100.9
102.7
102. 5
101.3
99.6
109.4
105.0
107.4
113.6
110.4
107.4
129.6
116.8
119.8
138.3
134. 2
129.9
1934
1935
90.3
98.7
102.1
102.2
106.1
89.9
98.1
104.4
104.1
107.8
87.4
84.0
94.2
93.7
105.5
110.4
91.4
95.4
87.2
128.2
93.9
97.5
95.5
102.0
96.9
101.5
102.6
91.5
95.5
89.9
127.6
96.2
106.6
108.8
102.1
96.0
98.9
97.4
100.2
95.9
86.4
106 5
99.0
106.2
106.6
105.2
95.4
97.9
96.5
98.7
96.9
88.1
103.0
97.7
110.5
111.0
109.5
97.8
99.7
98.6
100.0
97.3
99.3
100.7
99.7
91.5
102.1
96.4
91.4
98.4
95.7
103. 6
102.0
100.7
99.5
100.9
100.7
100.2
100.6
103.8
108.1
89.3
89.0
102.2
100.4
106.8
112.0
107.0
114.6
106.3
112.2
87.7
94.8
94.6
92.2
87.4
97.2
87.8
91.3
93.7
93.9
8S.5
93.6
102.1
99.3
99.1
109.2
105.4
100.6
99.9
96.9
101.6
106.7
106.7
99.9
1931
1933
1936
1937
1938
1942'
Preliminary.
Fisher "Ideal" Indexes (see text). The corresponding variable and fixed weighted indexes are as follows:
All consumer commodities:
Variable weighted index
Fixed weighted index
Consumer perishable commodities:
Variable weighted index
Fixed weighted index
Consumer semidurable commodities:
Variable weighted index
Fixed weighted index
Consumer durable commodities:
Variable weighted index
Fixed weighted index
1929
1930
1931
1932
1933
1934
1935
1936
1937
1938
1939
1940
1941
1942
129.9
131.8
123. 6
124.3
106.9
107.0
92.4
92.7
90.2
90.4
98.7
98.8
102.0
102.3
102.1
102.4
105. 9
106.3
101.7
101.7
100.0
100.0
101.1
101.2
109.2
109.2
125.3
125.5
131.2
131.8
124.4
124.7
105.7
105.6
92.3
92.1
90.0
89.9
98.1
98.1
104.3
104. 5
104.1
104.2
107.8
107.9
101.9
101.8
100.0
100.0
100.8
100.8
109.2
109.2
124.8
124.5
128.4
128.2
122.3
122.3
108.2
108.1
89.4
89.3
89.1
89.0
102.2
102.3
100.4
100.5
100.8
100.9
105.0
105.1
101.5
101.5
100.0
100.0
101.6
101.6
109.0
109.0
128.1
128.4
127.8
135.8
122.4
125.2
109.6
111.5
97.0
98.7
93.0
93.8
96.7
97.6
95.0
95.9
96.3
97.1
100.5
101.4
101.2
101.3
100.0
100.0
101.8
101.9
109.0
109.3
123.7
125.9
the light shed upon changes in economic well-being.
When such estimates are used for that purpose, it is
necessary to take account of certain limitations inherent
in quantitative measures. These limitations stem from
the fact that a quantitative measure cannot be adequate
in appraising a change in the economic status of society
when that change is essentially qualitative.
In the first place, a change in real product does not
provide a direct measure of the change in economic
welfare when the distribution of income has also
changed. It only indicates, in such cases, what w elf are
change would be feasible if the income distribution
were unchanged. The reason for this limitation is,
522777—48
3
of course, the fact that there is no accurate common
denominator for comparing satisfactions among individuals. While simplifying assumptions are often
adequate in problems of economic policy, there is no
exact theoretical solution of this difficulty. It may be
pointed out, however, that changes in the distribution
of income are ordinarily not revolutionary and, furthermore, that a measure of real product has a wide area
of usefulness even within the more limited interpretation of its meaning.12
12
For a thoroughgoing analysis of this factor, as well as others related to it, cf.
Hicks, J. R., "The Foundations of Welfare Economics," The Economic Journal
(London), December 1939, pp. 696-712.
18
SURVEY OF CURRENT BUSINESS
May 1943
Table 2.—Wholesale Price Deflators for Consumer Commodities by Minor Groups, 1929-42
[1939 = 100]
Commodity and commodity group
All consumer commodities 2__
Consumer perishable commodities 2___
1. All foods..
la. Manufactured foods and kindred products
2a. Nonmanufactured foods
Cigars, cigarettes, tobacco and smoking supplies
Drug preparations and household medical sundries
Toilet preparations and sundries
Cleaning and polishing preparations
Magazines, newspapers, and other printed matter
Stationery and writing supplies
Miscellaneous household paper products
Toys, games, and sport supplies
Manufactured household illuminating and heating
products
Nonmanufactured household fuels
Gasoline and oil
Consumer semidurable commodities 2_.
14.
15.
16.
17.
18.
19.
Clothing and accessories
Shoe? and other footwear
Personal furnishings
Dry goods and notions
Semidurable house furnishings
Semidurable toys and sporting goods
Consumer durable commodities 2_.
Household furniture
Floor coverings.
- -.
Miscellaneous durable house furnishings and equipment-.
Heating and cooking apparatus
Refrigerators, washing machines, and sewing machines..-.
Miscellaneous electrical Thousehold appliances
China, glassware, tablew are and household utensils
Radio apparatus and phonographs
Pianos
Other musical instruments
Clocks and watches
Jewelry and sterling silverware
Books and other durable printed matter
Writing equipment
Ophthalmic products and surgical and orthopedic appliances
35. Monuments and tombstones
36. Luggage
37. Wheel goods, durable toys and sport equipment
38. Passenger cars
39. Replacement tires and tubes
40. Passenger car replacement parts and accessories
41. Pleasure craft
20.
21.
22.
23.
24.
25.
26.
27.
28.
29.
30.
31.
32.
33.
34.
1929
1930 1931
128.6
119.9 100.9
134. 3
124.4 j 102.3
141.8
136.2
152.5
107.2
85.4
123.8
114.0
98.9
118.1
120.2
102.5
129.8
122.1
145. 2
110.0
81.6
124.7
113.1
98.1
112.2
114.9
101.2
123.9
109.9
162.8
111.8
107.9
135.3
118.1
115.3
104.7
121.1
163.3
138.7
119.5
1932 I 1933 1934
1935
1936
1937
1938
1939
1940
1941 1942
114.2
97.7 106.3
112.7 | 102.6 100.0
101.7
85.3
97. 7 I 112.1 111.1
117.8 i 103.6 100.0
100. J 115.6
135.2
103.2
85.4
100.8
84.3
107.8
87.3
109.8 108.3
75.7
70.3
124.7 110.8
105.1
94.6
95.3
94.6
99.2
98.8
114.0 107.7
93. 4. 95.5
83.2
84.1
81.7
92.3
69.8
97.3
95.1
92.5
82.7
105.5
94.9
97.5
97.7
97.0
98.8
95.7
90.5
93.7
91.1
87.2
110.7
95.8
116.4
119.8
110.2
98.7
99.2
94.4
100.5
94.4
83.3
100.9
101.6
114.2
115.3
111.9
98.7
102.4
98.3
101.3
97.1
86.3
99.6
98.5
122.3
122.4
122.1
100.1
110.7
103.9
103.3
97.5
98.6
104.3
101.6
104.1
104.4
103.5
100.0
101.0
103.6
100.7
99.1
100.3
103.4
101.6
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.4
99.4
102.7
101.6
113.7
99.4
97.4
100.6
104.2
102.8
103.9
117.9
116.2
121.8
103.2
134.4
107.1
103. 4
100.5
104.3
107.2
106.8
141.4
136.5
154.0
104.3
171.1
119.0
117.5
103.0
125.0
122.4
116.1
87.4
106.1
92.9
101.1
100.8
93.0
97.2
91.3
104.6
102.3
102.9
102.3
102.7
103.1
100.9
104.2
117.1
109.4
102.7
120.9
108.6
103.1
104.9
100.0
100.0
100.0
101.5
102.3
104.0
114.2
108.7
117.9
125,3
116.2
123.5
110.8
95.9
81.4
90.0
101.1
99.2
100.4
107.0
100.1
100.0
103.4
112.6
130.2
108.8
101.0
118.7
138.5
127. 9
119.5
93.7
92.3
114.1
108.9
109.1
111.2
78.3
84.5
103.6
89.8
90.1
99.4
88.0
89.1
98.7
100.6
102.2
91.4
100.5
95.7
101.4
107.9
116.5
99.1
98.0
95.4
101.2
105.6
114.6
100.1
99.5
97.3
102.3
102.9
112.7
106.8
106.8
102.0
105.0
109.7
116.8
115.5
100.7
99.5
100.4
93.3
100.3
110.3
100.0
100.0
100.0
100.0
100.0
100.0
103.3
105.2
102.9
104.7
101.3
99.6
111.2
110.7
107.5
127.6
119.2
107.6
128.8
122.7
120.0
149.4
148.2
130.2
121.0
113.4
101.9
91.4
87.3
92.9
91.9 i 94.0
99.9
100.9
100.0
102.5
112.7
105.3
119.4
107.2
150.2
158.4
99.1
316.8
123.3
123.7
130.0
107.2
107.9
102.6
109.8
106.0
108.5
105.3
144.9
151.4
90.0
219.9
114.6
116.4
128.7
91.8
105.9
103.1
101.9
88.1
91.6
79.7
79.0
91.1
86.7
99.5
136.8 109.0
145.2 133.6
82.5
87.7
148.6 105.8
104.8
98.8
108. 5 103.3
117.8 112.9
65.9
77.7
102.0
97.8
103.1 101.8
91.3
83.0
89.8
81.3
93.9 I
118.7
82.8
92.6
89.9
104.2
103.8
71.2
87.7
101.6
97.7
90.6
101. 8
84.1
96.4
113.6
90.4
106.9
89.4
112.8
79.0
92.2
87.6
100.3
95.6
91.4
97.5
85.7
95.3
102.9
92.2
104.6
91.1
103.3
86.9
98.3
89.1
100.8
98.7
91.8
100.0
89.6
91.2
99.4
95.0
108.7
92.4
104.1
90.8
103.6
93.6
101.1
107.1
102.6
110.8
97.9
101.0
99.6
101.5
109.1
99.9
108.5
93.0
108.9
95.2
101.8
101.8 100.0
98.2 100.0
101.2 100.0
98.9 100.0
102.6 100.0
100.5 100.0
100.0 100.0
105.9 100.0
99.2 100.0
101.5 100.0
83.2 100.0
97.0 100.0
98.6 100.0
101.9 100.0
100.1
127.3
105.1
106.9
111.7
90.8
139.2
109.5
100.4
132.6
104.3
104.8
105.9
85.0
130.6
105.4
99.2
119.1
91.9
100.6
100.4
74.8
110.3
100.2
95.6
94.3
75.7
93.1
85.4
68.3
98.2
92.4
97.3
96.5
85.8
98.4
89.8
74.4
102.3
92.5
97.3
107. 4
81.0
98.5
87.7
75.3
99.9
90.7
98.2
102.5
87.6
97.2
90.2
77.9
98.7
88.8
99.4
98.9
106.2
102.0
94.3
92.9
100.4
96.6
99.6
106.4
102.8
102.4
102.4
96.7
97.1
98.3
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
97.7
108.9
80.3
94.3
98.1
68.2
101.6
93.1
132.6
110.2
123.1
102.0 111.6
108.7 112.6
104.3 113.8
100.5 107.7
97.6
95.0
100.0 110.6
101.7 105.9
98.7 107.7
101.8 105.9
111.1 116.7
110.8 115.3
107.9 115.2
99.5 103.0
100.6 101.7
126.0
117.7
133.5
119.3
106.0
125.2
117.7
122.6
122.8
151.4
142.7
139.7
103.6
105.6
100.9
109.9
103.5
98.9
103.8
98.5
103.5
102.1
101.3
113.9
118.1
103.5
114.0
104.0
110.3
102.1
103.3
119.1
149.9
119.1
125.3
123.6
130.9
114.6
1 Preliminary.
2 Fisher "Ideal" Indexes (see text). The corresponding variable and fixed weighted indexes are as follows:
1930
1931
1932
1933
1934
1935
1936
1937
1938
1939
1940
1941
1942
126.
130.
119.2
120.6
100.6
101.3
87.3
87.9
86.2
105.8
106.9
105.9
106.6
112.3
113. 2
102.6
102.6
100.0
100.0
101.7
101.7
114.0
114.4
132.4
132.9
133.
135,
124.2
124.6
102.4
102.3
8.9
85.2
85.5
97.6
97.8
97.7
97.8
111.8
112.4
111.0
111.3
117.7
118.0
103.6
103.6
100.0
100.0
100.9
101.0
115.5
115.8
134.8
135.7
I 117.4 110.3
118. 9 111.4
95.5
96.3
90.3
100.8
101.4
99.0
99.4
100.3
100.5
106.9
107.1
100.1
100.1
100.0
100.0
103.4
103.5
112.5
112.7
130.0
130.5
J 117.4 112.0
j 124.7 114.8
100.3
103. 5
86.7
87.9
92.5
93.3
91.5
92.3
93.8
94.3
99.5
100.3
100.8
101.0
100.0
100.0
102.5
102.6
110.1
110.3
122.6
1929
All consumer commodities:
Variable weighted index
Fixed weighted index
Consumer perishable commodities:
Variable weighted index
Fixed weighted index
Consumer semidurable commodities:
Variable weighted index
Fixed weighted index
Consumer durable commodities:
Variable weighted index
Fixed weighted index
In the second place, it is possible to pass from an
indicated change in real product to a change in economic
welfare only if the wants of society have remained
relatively constant. In times of peace this assumption can usually be made with assurance over periods
of even quite a few years, although over long periods
it may become questionable. However, when a change
from peace to war is involved, as with comparisons over
the past few years, the change in the structure of wants,
particularly as reflected in the changes of consumption
patterns, may become so drastic as to impair seriously
the meaning of quantitative comparisons of economic
welfare.
81.1
81.7
89.5
93.3
Thirdly, since the real national product counts only
the output of economic enterprises it may fail to indicate welfare changes adequately because of variations
in other areas. The most important of such possible
variations may occur in a shift, from the household to
the market economy or in a marked change in the
sacrifices involved in producing the aggregate output.
Both the services of the household and of leisure are
important factors in assessing economic welfare though
it is not possible to include them in the measure of
real national product. Ordinarily they change but
slowly—apart from forced leisure which may hardly be
construed as a contribution to welfare—and can safely
May 1943
19
SURVEY OF CURRENT BUSINESS
Table 3.—Wholesale Price Deflators for Capital Equipment by Minor Groups, 1929-42
[1939=1001
Group
Capital equipment, total
42.
43.
44.
45.
46.
47.
48.
49.
50.
51.
52.
53.
54.
55.
56.
57.
58.
59.
60.
61.
2
Industrial machinery
Mining machinery
Construction machinery
General and miscellaneous machinery and equipmentEngines and turbines
Pumps and pumping equipment
.
Machine tools
Electrical apparatus and equipment
Farm machinery and equipment
Tractors
Office machinery
_
Nonresidential furniture and equipment
Durable containers
Professional and scientific equipment
Tools.
All other subsidiary durable equipment
Business motor vehicles
.
Motorcycles
Locomotives and railroad cars
Ships and boats
.
1929
1930
1931
1932
1933
1934
106.3
101.4
96.0
90.5
86.6
92.9
92.3
93.8
90.8
89.0
104.3
106.1
104.3
96.4
130. 5
101.0
110.8
118.4
112.9
88.8
132.3
96.6
109.8
112.3
84.6
97.6
96.9
90.1
88.4
86.8
100. 5
105.8
104.0
88.9
114.6
94.8
110.0
118. 4
112.5
88.3
128.3
94.8
102.9
105. 7
84.6
96.6
94.9
87.4
86.1
83.9
97.1
104.8
102.1
83.6
103.1
92.7
104. 5
118.9
105.3
76.9
128.4
89.6
93.7
99.5
84.6
89.1
92.1
84.8
81.0
78.9
86.4
94.7
102.2
78.3
94.8
85.2
98.0
114.5
96.3
73.4
125.9
87.3
90.5
97.1
85.5
78.8
84.8
85.3
83.8
81.2
83.1
89.2
95.2
78.3
92.5
84.2
96.7
100.4
89.6
79.4
114. 7
85.0
90.8
85.8
84.6
77.8
84.8
93.3
93.4
89.7
89.0
91.3
97.7
92.5
87.1
98.9
97.6
101.4
103.8
91.5
86.4
107.5
88.4
98.1
87.2
85.0
92.4
93.7
89.6
88.9
91.1
98.3
95.5
87.1
100.9
94.5
98.0
101.8
94.8
86.2
112.5
89.9
97.8
89.8
84.6
87.1
90.8
1935
1937
1938
92.6
98.9
100.9
100.0
94.1
89.7
89.0
88.9
95.7
93.1
87.1
97.9
98.6
101.9
104.0
91.2
89.8
106.1
89.3
97.2
88.5
85.4
93.2
93.7
100.1
99.8
99.5
100.9
105.5
97.7
106.0
93.0
98.0
98.8
100.3
99.7
99.8
99.6
101.3
99.8
100.3
98.2
101.9
100.9
104.2
99.2
99.0
103.1
105. 5
100.1
101.0
101.6
100.0
98.6
100.3
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
1936
99.8
99.1
96.4
101.3
97.3
105.1
103. 3
100.3
104.9
1939
1940
1941
1942'
102.6
108.9
115.9
101.6
105.1
105. 2
101.0
102.9
102.5
107.5
102. 7
99.7
97.2
101.3
103.4
100.1
101.6
99.6
103.0
104.1
101.4
102.9
103.0
107.6
110.8
112. 1
109.9
107.0
112.3
115.5
104.9
101.8
97.0
101.8
113.6
105.4
105.9
103.9
110.9
111.6
101.8
109.9
109.9
110.8
114.7
115.5
115.8
114. 2
123.0
117.0
114.3
105. 5
102.1
110.0
125.7
109.8
135. 7
108.8
116.5
120.8
102.6
120.0
120.0
1 Preliminary.
2 Fisher "Ideal" Indexes (see text). The corresponding variable and fixed weighted indexes are as follows:
1930
1931
1932
1933
1934
1935
1936
1937
1938
1939
1940
1941
1942
105. 8 101.0
106.9 101.8
95.7
96.3
90.0
91.0
86.2
87.0
92.7
93.1
92.0
92.7
92.4
92.9
98.8
99.1
100.9
100.9
100.0
100.0
102.7
102.6
109.0
108.9
115.4
116.4
1929
Variable weighted index _
Fixed weighted index
be ignored in comparing welfare over short periods.
But in times such as the present, both of these elements
may have changed drastically and consequently must
be considered in any appraisal of our economic position
from a welfare standpoint.
Appendix
The following notes indicate briefly the composition of the minor commodity
group indexes with respect to the specific price data used and sources thereof. The
retail price index for one of the consumer commodity minor groups, Group 16—
Personal Furnishings, was obtained indirectly by marking up the wholesale price
index for that group by appropriate annual retail mark-up factors; as indicated in
the notes below, several of the wholesale price indexes were obtained in a similar
manner, by deflating the comparable retail price indexes by the detailed annual retail
mark-up factors developed in the commodity flow study.
Those price series below followed by an asterisk (*) represent unpublished data.
The Bureau of Labor Statistics and the Bureau of Agricultural Economics will
hereafter be referred to as " B . L. S." and "B. A. E.," respectively.
TABLES 1 AND 2—CONSUMER COMMODITIES AT WHOLESALE AND AT RETAIL
Perishables.
la. Manufactured foods and kindred products. Wholesale—The B . L. S. wholesale
price composite for all foods, adjusted to exclude nonmanufactured foods. Retail—
The B. L. S. retail price composite for all foods, adjusted to exclude nonmanufactured
foods.
2a. Nonmanufactured foods. Wholesale—United States Department of Agriculture, Agricultural Marketing Service, milk dealers' average buying price of standard
grade milk. B. A. E. prices received by farmers' indexes for the following: Fruits;
truck crops; chickens and eggs, and meat animals. Retail—B. L. S. retail price
indexes for the following: Fresh fruits and vegetables; dried fruits and vegetables;
poultry; fresh fluid milk, delivered; and meat products adjusted to exclude poultry.
3. Cigars, cigarettes, tobacco, and smoking supplies.
Wholesale—B. L. S. wholesale
price indexes for the following: Cigarettes; cigars; plug tobacco; smoking tobacco;
and snuff. Retail—B. L. S. retail price data for the following were used from 1935
to 1942: Cigars;* cigarettes,* and pipe tobacco.* For the earlier years the National
Industrial Conference Board composite index for cigars, cigarettes, and pipe tobacco
was spliced with the above.
4. Drug preparations and household medical sundries. Wholesale—The B. L. S.
wholesale price index for drugs and Pharmaceuticals. Retail—B. L. S. retail price
data for the following: Nonnarcotic prescriptions, liquid, 4 oz;* nonnarcotic prescriptions, capsules;* narcotic prescriptions, 3 oz;* cold remedy;* castor oil;* quinine
tablets;* milk of magnesia, widely and not widely advertised (2 series);* and aspirin
tablets.* Mail order catalog prices for the following: Antiseptic mouth wash; epsom
salts; healing ointment; cold tablets; cough syrup; laxatives; and sanitary napkins
(2 series).
5. Toilet preparations and sundries. Wholesale—B. L. S. wholesale price indexes
for the following: Toilet soap, bars and cakes, composite; single edge razor blades;*
and double edge razor blades.* Retail—B< L. S. retail price data for the following:
Toilet soap;* shaving cream;* toothpaste;* face powder, low and medium priced,
(2 series);* cleansing cream;* and razor blades.* The B. A. E. prices paid by farmers
price series for toilet soap.* Mail order catalog prices for the following: Razor blades,
single and double edge (2 series); after-shave lotion; hair tonic; talcum powder; lipstick (2 series); perfumes (3 series).
6. Cltaning and polishing preparations. Wholesale—B. L. S. wholesale price indexes
for the following: Laundry soap bars, white, composite; laundry soap bars, yellow,
composite; soap cleansers, packaged, composite; soap chips and flakes, packaged,
composite; powdered or granulated soap; auto polish, 2 series;* furniture polish;*
furniture wax;* and calcium arsenate disinfectant. Retail—B. A. E. prices paid
by farmers data for laundry soap* and laundry starch.* B . L. S. retail price data
for the following: Soap cleanser;* laundry soap bars, white;* laundry soap bars,
yellow;* and soap flakes and chips, fine and general purpose (2 series).* Also, a
mail order catalog price for a disinfectant.
7. Magazines and newspapers. Wholesale—Retail index deflated to wholesale
level (see prefatory note). Rdail—The National Industrial Conference Board
composite index for newspapers and magazines.
8. Stationery and writing supplies. Wholesale—Retail index deflated to wholesale
level (see prefatory note). Retail—Mail order catalog prices for the following:
White bond paper stationery; personal and social calling cards (2 series); personal
stationery sets, including sheets and envelopes; and white bond envelopes.
9. Miscellaneous household paper products. Wholesale—B. L. S. wholesale price
indexes for white tissue paper and wrapping paper. These were combined with the
retail index deflated to wholesale level (see prefatory note). Retail—Mail order catalog prices for toilet paper; cleansing tissues; waxed paper (2 series); paper towels;
paper forks and spoons; and paper cups (2 series). The B. L. S. retail price series for
toilet paper* was also used.
10. Toys, games, and sport supplies. Wholesale—Retail index deflated to wholesale
level (see prefatory note). Retail—Mail order catalog prices for the following: Playing
cards (4 series); bullets and cartridges (3 series); set of dominoes (2 series); ouija board;
checkerboard and checker set; official baseball; cartridge roll film for box cameras
(2 series); combination-57-games set; and miscellaneous children's games and toy
sets (4 series). Also included were B. L. S. wholesale price series for golf balls* and
tennis balls.*
11. Manufactured household illuminating and heating products. Wholesale—B. L . S .
wholesale price indexes for the following: Regular matches, composite; incandescent
lamps, 40, 60, and 100 watts; fuel oil, Oklahoma; kerosene, New York; kerosene,
refinery; and coke, composite. Retail—B. L. S. retail price data for fuel oil, number
2 grade, composite, and for coke; as both of these series were available from 1937 only,
the earlier years were obtained by linking on the wholesale price indexes for both
products. Included also were the B. A. E. prices paid by farmers index for kerosene*
and B. L. S. retail price data for household matches, in boxes,*and electric light bulbs.*
12. Nonmanufactured household fuels. Wholesale—B. L. S. wholesale price composite indexes for anthracite and bituminous coal. Retail—B. L. S. retail price data
for the following: Anthracite, stove, composite; anthracite, chestnut, composite;
and bituminous coal, composite. Included also were the following B. A. E. prices
paid by farmers' series: Firewood, per cord;* bituminous coal;* and anthracite,
chestnut.*
13. Gasoline and oil. Wholesale—B. L. S. wholesale price indexes for the following:
Gasoline, Oklahoma, California, North Texas, and Pennsylvania (5 series); cylinder
oil, Oklahoma and Pennsylvania; and neutral oil, Gulf coastal and Pennsylvania.
Retail—The American Petroleum Institute 50-city service station gasoline price, in-
20
SURVEY OF CURRENT BUSINESS
eluding taxes, combined with the B. A. E. prices paid by farmers index of gasoline,
regular, including tax.*
May 1943
cluded were the B. L. S. wholesale price indexes for the following: Electric ironer,
automatic; electric sewing machines, composite; treadle sewing machines, composite;
and electric washing machines. Retail—B. L. S. retail price data for the following:
Semidurables.
Electric refrigerators;* ice refrigerators;* washing machines, electric;* and sewing
14- Clothing and accessories. Wholesale—B. L. S. wholesale price indexes for the
machines, electric* B. A. E. prices paid by farmers series for the following: Sewing
following: Clothing group, composite; hosiery and underwear group, composite;
machines, treadle;* washing machines, electric; washing machines, gasoline;* and
gloves, leather, men's; gloves, leather, women's. Also included were the Fairchild
wringers.* Also included was the B. L. S. wholesale price index for electric ironers,
retail composites for women's furs and women's aprons and house dresses. Retail—
automatic.
Fairchild retail price composites for the following: Men's hosiery; men's underwear;
25. Miscellaneous electrical household appliances. Wholesale—B. L. S. wholesale
men's shirts and neckwear; men's hats and caps; other men's clothing, including
price indexes for the following: Electric vacuum cleaners; electric waffle irons;* elecoveralls; infants' wear, socks and underwear; women's hosiery; women's aprons and
tric percolators;* electric irons, automatic and nonautomatic; electric toasters;*
house dresses; women's corsets and brassieres; women's furs; and women's underwear.
heater cord and plug sets;* and electric fans, nonoscillating.* Retail—B. L. S. retail
Inasmuch as the Fairchild indexes were not available for 1929 and 1930, these years
price data for vacuum cleaners;* B. L. S. wholesale price series for the following:
were estimated by linking the 1931 Fairchild combined index to that of the B. L. S.
Electric waffle irons;* electric percolators;* electric irons, automatic and nonautomatic;
cost of living index for all clothing. The resulting index was then combined with
electric toaster;* heater cord and plug set;* and electric fans, nonoscillating.*
the B. A. E. prices paid by farmers index for clothing, adjusted to exclude all shoes.
26. China, glassware, tableware, and household utensils. Wholesale—B. L. S. whole15. Shoes and other footwear. Wholesale~B. L. S. wholesale price indexes for the sale price indexes for the following: Dinner sets, 2 series; nappies, glass; pitchers, glass;
following: The shoe group, composite; rubber boots, men's, 2 series;* rubber gaiters,
plates, white granite; teacups and saucers, white; tumblers, glass; carvers; knives and
men's, 2 series;* rubber gaiters, women's;* and men's rubbers. Retail—Fairchild
forks; plated silverware, 26-piece set;* and galvanized pails. Also included was a
retail composites for women's shoes, men's shoes, and infants' shoes combined with
mail order catalog price series for aluminum pans. Retail—Fairchild retail composite
the B. A. E. prices paid by farmers indexes for men's workshoes,* men's knee boots,*
for china and glassware; B. L. S. retail price data for dinnerware, plate,* teacups and
and women's shoes or oxfords.*
saucers,* and glassware;* B. A. E. prices paid by farmers series for dinner plates*
and glass fruit jars; and mail order catalog price series for copper wash boilers, alumi16. Personal furnishings. Wholesale—B. L. S. wholesale price indexes for the
num pans, and plated silverware sets, 4 series.
following: Ladies' umbrellas;* men's umbrellas;* safety razors, single edge, 2 series;*
safety razors, double edge, 2 series;* artificial leather, light; and other leather products,
27. Radio apparatus and phonographs. Wholesale—Retail index deflated to wholecomposite. Retail—Wholesale index marked up to retail level (see prefatory note).
sale level (see prefatory note). Retail—Fairchild retail composite for radios; B. L. S.
17. Dry goods and notions. Wholesale—B. L. S. wholesale price indexes for the
retail price data for radios, regular console size;* as the Fairchild series was not availfollowing: Cotton goods, composite, adjusted to exclude sheetings, shirtings, tickings,
able for 1929 and 1930 and the B. L. S. series was not available for 1929-34 these years
tire fabrics and yarns; silk and rayon, composite; woolen and worsted goods, composite,
were estimated by the Electrical Merchandising retail average price series for all radios
adjusted to exclude yarns; cotton thread; handkerchiefs, cotton, men's and women's;
linked to the respective series. Also included were mail order catalog price series for
and handkerchiefs, linen, men's and women's. Retail—Fairchild retail composites
radio tubes, 3 types.
for silk, woolen and cotton piece goods; the B. A. E. prices paid by farmers index
28. Pianos. Wholesale—Census of Manufactures unit average factory price series
for muslin;* and mail order catalog prices for diapers, cotton sewing thread, and linen
for upright pianos and for baby grand pianos; as these were available for census years
crash goods.
only, they were interpolated and extrapolated by the B. L. S. wholesale price series
for upright pianos* and baby grand pianos,* respectively—Retail; Wholesale price
18. Semidurable house furnishings. Wholesale—B. L. S. wholesale price indexes for
index used directly, in absence of appropriate retailers' mark-up data.
the following: Toweling; oilcloth, shelf, table and wall; tablecloths, cotton damask;
tablecloths, mercerized; pillowcases; bedsheets; sheetings, 2 series; and prepared House29. Other musical instruments. Wholesale—Retail price index used directly, in
hold paints, 2 series. Retail—B. L. S. retail price data for household brooms, 2
absence of appropriate retailers' mark-up data. Retail—Mail-order catalog price
series;* towels;* and marquisette curtains, 3 series.* B. A. E. prices paid by farmers
series for the following: Clarinet outfit, complete; trumpet, brass; trumpet, medium
data for household brooms;* sheets and sheetings;* and toweling.* The Fairchild
priced; violin; drum heads; snare drum; saxophone; guitar; and mandolin.
retail composite for household sheets and a mail-order catalog price series for house
30. Clocks and watches. Wholesale—Retail index deflated to wholesale level (see
paints were also included.
prefatory note). Retail—Mail-order catalog price series for the following: Alarm
19. Semidurable toys and sporting goods. Wholesale—Retail index deflated to wholeclock, inexpensive; jeweled watch, men's; nonjeweled pocket watch, men's, medium
sale level (see prefatory note). Retail—Mail-order catalog price series for the folprice; nonjeweled pocket watches, cheapest, 2 series; and nonjeweled wrist watches,
lowing: Doll buggy; ouija board; sled; set of boxing gloves; football; and a combina5 series. Also included was the B. L. S. wholesale price series for Westminster chime
tion multiple game set. A B. L. S. wholesale price series for fishing line* and a unit
clocks.*
average price series for dolls derived from the Census of Manufactures were also
31. Jewelry and sterling silverware. Wholesale—Foreign Commerce and Navigation
included.
import average price per carat of diamonds, cut but not set; mail-order catalog price
series for plain gold wedding rings, 10 karats, 2 dwt.; and B. L. S. wholesale price
Durables.
series for sterling silverware, forks, knives, spoons and teaspoons, 9 series. Retail—
Mail-order catalog price series for the following: Diamond engagement solitaires, gold
20. Household furniture. Wholesale—B. L. S. wholesale price indexes for the folsettings, medium-quality diamonds, J4 and ^ carat, 4 series; diamond engagement
lowing: Metal beds; wooden beds; benches; chairs; dressers and vanities; dining room
solitaires, gold settings, finest quality diamonds, J4 and }5 carat, 4 series; diamond
buffets, diners, and servers; dining room set of six chairs, dining room tables; kitchen
engagement solitaires, platinum settings, finest quality diamonds, ]A and ^ carat,
cabinets, chairs and tables; living room chairs, davenports and tables; mattresses,
2 series; and plain gold wedding rings, 10 karats, 2 dwt. Also included were B. L. S.
composite; and bed springs, coil. Retail—B. L. S. retail price data for the following:
wholesale price series for sterling silverware pieces, 5 series.*
Living room suites, 2 series;* dining room suites, 2 series;* bedroom suites, 2 series;*
studio couches;* bedsprings;* and mattresses.* B. A. E. prices paid by farmers data
32. Books and other durable printed matter. Wholesale—Retail index deflated to
for the following: Bedsprings;* bedsteads;* dining chairs;* dressers;* kitchen cabiwholesale level (see prefatory note). Retail^-Average retail prices for biographical
nets;* dining tables;* living room suites;* and mattresses.*
and other nonfiction books, first-edition fiction books, textbooks and technical books
estimated on basis of average book sellers' catalog prices. The latter were submitted
21. Floor coverings. Wholesale—B. L. S. wholesale price indexes for the following:
by The Pub'ishers' Weekly.
Axminster carpets, composite; Brussels carpets, composite; Wilton carpets, composite;
felt base floor coverings, (2 series); and inlaid and plain linoleum, (2 series). Retail—
33. Writing equipment. Wholesale—B. L. S. wholesale price series for fountain
B. L. S. retail price data for the following: Rugs, wool;* carpets, wool;* rugs, felt base;*
pens;* automatic pencils,* 3 series. Also included were mail order catalog price series
floor coverings, felt base;* and linoleum, inlaid.* Also included were the B. A. E.
for portable typewriters, 8 series, deflated to wholesale level (see prefatory note).
prices paid by farmers series for seamless rugs* and linoleum,* and mail order catalog
Retail—Mail order catalog prices for portable typewriters, 8 series, fountain pens,
prices for Axminster rugs and felt base rugs.
and automatic pencils.
34. Ophthalmic products, and surgical and orthopedic appliances. Wholesale—B. L. S.
22. Miscellaneous durable house furnishings and equipment. Wholesale—B. L. S.
retail price data for ophthalmic lenses* and eyeglass frames,* deflated to wholesale
wholesale price indexes for the following: Blankets, part wool; blankets, woolen;
level (see prefatory note). Retail—B. L. S. retail price data for glasses, complete,*
blankets, cotton; garden hose; comforters; scissors and shears;* window shades
and ophthalmic lenses.*
mirrors; bathroom scales;* and hand-operated lawn mowers, (2 series).* Retail—Fair
child retail composite for blankets and comfortables; B. L. S. retail price data for
35. Monuments and tombstones. Wholesale—Bureau of Mines unit average price
woolen blankets, (2 series) ,* and part wool blankets;* and B. A. E. prices paid by farmfor monumental stone, marble and granite. Retail—Mail order catalog price series
ers series for cotton blankets* and for comforters.* Also inlcuded were mail-order
for monumental granite and monumental blue marble, 4 series.
catalog prices for garden hose, flashlight cases, and lawnmowers and the B. L. S.
36. Luggage. Wholesale—B. L. S. wholesale price indexes for suitcases, composite,
wholesale price series for scissors and shears,* window shades, mirrors, and bathroom
and traveling bags, composite. Retail—Fairchild retail composite for luggage; index
scales.*
for 1929 and 1930 estimated by wholesale index linked to Fairchild data.
37. Wheel goods, durable toys and sport equipment. Wholesale—B. L. S. wholesale
23. Heating and cooking apparatus. Wholesale—B. L. S. wholesale price composite
price indexes for the following: Baby carriages;* boys' bicycles, 2 series;* girls' bicycles,
indexes for coal cooking stoves, electric cooking stoves, gas cooking stoves and oil
2 series;* children's velocipedes, 2 series;* fishing reels;* fishing rods, 8 series;* golf
cooking stoves. Retail—B. A. E. prices paid by farmers index for kitchen range, coal
clubs;* roller skates;* and tennis rackets.* Also included were mail-crder catalog
and wood burning;* B. L. S. retail price series for gas range;* and mail order catalog
price series for box cameras, 6 series. Retail—Mail-order catalog price series for the
prices for a coal and wood range and an oil range.
9,4. Refrigerators, washing machines and sewing machines. Wholesale—B. L. S, whole following: Standard double-bar bicycles; leather footballs; doll buggies; sleds; box
cameras, 6 series; folding cameras, 4 series; and movie projectors, 4 series. Also
sale price composite for electric refrigerators;* as this series was not available for 1929included were B. L. S. wholesale price series for children's velocipedes;* baby car31, these years were estimated by the National Electrical Manufacturers' Association
riages;* fishing reels and rods, 3 series;* golf clubs;* and tennis rackets.*
average factory price for electric refrigerators linked to the B. L. S. series. Also in-
SURVEY OF CURRENT BUSINESS
May 1943
38. Passenger cars. Wholesale—Bureau of Foreign and Domestic Commerce average realized delivered factory price series for passenger cars. Retail—Bureau of Foreign and Domestic Commerce average realized delivered factory price series for passenger cars, plus additional charges by retailers (average transportation costs and
"pack" charges); this series was used from 1929 to 1939; for later years B. L. S. retail
price data for Plymouth, Chevrolet, and Ford standard models* were used to project
the 1939 index.
89. Replacement tires and tubes. Wholesale—B. L. S. wholesale price composite
indexes for passenger car balloon tires and passenger car inner tubes. Retail—Mailorder catalog price series for passenger car balloon tires and tubes. Also included was
the B. A. E. prices paid by farmers for passenger car balloon tires.*
40. Passenger car replacement parts and accessories. Wholesale—B. L. S. wholesale
price indexes for spark plugs* and for auto storage batteries.* Also included were mailorder catalog price series for hot water auto heaters; duplicate spring sets for Fords
and Chevrolets, 4 series; and replacement auto radiators, honeycomb and tubular
types, 4 series. Retail—Mail order catalog price series for the following: Hot water
auto heaters; tire chains; spark plugs, 2 series; auto storage batteries, 3 series; replacement spring sets for Fords and Chevrolets, 4 series; and replacement auto radiators,
honeycomb and tubular types, 4 series.
41. Pleasure craft. Wkrlesale—Retail index deflated to wholesale level (see prefatory note). Retail—Mail-order catalog price series for flat-bottom rowboats and
semiround-bottom dory boats, 4 series.
TABLE 3. CAPITAL EQUIPMENT AT WHOLESALE
42. Industrial machinery. B. L. S. wholesale price series for the following: Feed
grinders, power, composite;* hammer mills, grinding cylinders, 2 series;* milking
machines, composite; cream separators, composite; stationary electric motors;
knitting machines, 8 series;* extracting machines;* standard ironers;* and laundry
washing machines.* Also included was the Bureau of Valuation (Interstate Commerce Commission) cost index for shop machinery.
43. Mining machinery. Bureau of Valuation (Interstate Commerce Commission)
cost indexes for the following: Ditchers; pneumatic tie tampers; miscellaneous roadway machinery; nonprecision "Class B " shop machinery; miscellaneous portable
tools and apparatus; and handpush and velocipede cars. For 1942 these series were
projected by Office of Price Administration machinery survey data.
44- Construction machinery. Bureau of Valuation (Interstate Commerce Commission) cost indexes for the following: Ditchers; miscellaneous roadway machines;
pneumatic tie tampers; nonprecision "Class B " shop machinery, and miscellaneous
portable tools and apparatus. For 1942 these series were projected by Office of Price
Administration machinery survey data.
45. General and miscellaneous machinery and equipment. B. L. S. wholesale price
indexes for industrial jacks;* cold water meters;* platform scales;* and electric refrigerators.* Also included were the Bureau of Valuation (Interstate Commerce Commission) cost indexes for nonprecision "Class B " shop machinery; miscellaneous roadway machines; and ditchers. For 1942, these series were projected by Office of Price
Administration machinery survey data.
46. Engines and turbines. Bureau of Valuation (Interstate Commerce Commission) cost index for power plant machinery and B. L. S. wholesale price indexes for
gasoline engines, composite, and diesel engines.* For 1942, these series were projected
by Office of Price Administration machinery survey data.
21
47. Pumps and pumping equipment. B. L. S. wholesale price indexes for power
spraying outfits (2 series),* pitcher pumps (3 series),* force pumps (3 series),* and
water systems, shallow and deep well (4 series).*
48. Machine tools. Bureau of Valuation (Interstate Commerce Commission)
cost indexes for metal working "Class A" machinery for 1929-36; B. L. S. wholesale
price index for machine tools, composite, for 1937-42. (Note: Both series moved
almost identically from 1937-41; the B. L. S. index was not available prior to 1937).
49. Electrical apparatus and equipment. Bureau of Valuation (Interstate Commerce Commission) cost indexes for electrical machinery and apparatus, including
turbines and generators, and for power substation apparatus. Also included was
the B. L. S. wholesale price index for lighting plants, 1,800 watts.* For 1942 these
series were projected by Office of Price Administration machinery survey data.
50. Farm machinery and equipment. B. L. S. wholesale price indexes for the following: Agricultural implements composite group index, adjusted to exclude tractors.
Also included were B. L. S. wholesale price series for hay forks, hoes, shovels, spades,
and agricultural pumps, composite.
51. Tractors. B. L. S. wholesale price indexes for tractors, 2-plow, 3-4-plow, and
crawler types, composites.
52. Office machinery. B. L. S. wholesale price indexes for standard model typewriters,* numbering machines,* calculating and adding machines, 3 series.* Also
included were mail-order catalog price series for adding-listing machines, composite
adding machines, composite, and duplicating machines, composite.
53. Nonresidential furniture and equipment. B. L. S. wholesale price indexes for
office side chairs, composite; office swivel chairs, composite; office desks, flat top,
composite; and office desks, typewriter, composite. Also included were the wholesale
price indexes for Group 20, Household furniture, and for Group 21, Floor coverings.
54. Durable containers. B. L. S. wholesale price indexes for steel tanks, 3 series;*
and steel barrels, 3 series.*
55. Professional and scientific equipment. Mail-order catalog price series for the
following: Surveying instruments; combination level-transits, 4 series; drawing
instruments; " T " squares and triangular scales, 3 series; binoculars, 8-power, 3 series;
reading glasses, 2 series; compass; jeweled precision watch, expensive; motion picture
cameras, 5 series; and motion picture projectors, 3 series. Also included was the
B. L. S. wholesale price index for meters, cold water.*
56. Tools. B. L. S. wholesale price indexes for the following: Knives, corn; axe;
hatchets; chisels; forks, hay; shovels; spades; hammer, carpenters'; planes; saws,
crosscut; hand saws; vises, box; drills, breast;* files; portable drills, air;* and portable
rock drills, air.*
57. All other subsidiary durable equipment. B. L. S. wholesale price indexes for the
following: Duck, sail; leather belting; suitcases; traveling bags; wire fence, plain,
barbed, galvanized and woven, 4 series; rubber hose; padlocks;* spring scales;* fire
extinguishers*; and rubber belting, transmission.*
58. Business motor vehicles. B. L. S. wholesale price composite index for trucks,
combined with the wholesale price index for Group 38, Passenger cars.
59. Motorcycles. F. 0. b. factory price series for Harley-Davidson motorcycles,
4 models, and for Indian motorcycles, 4 models, obtained from Motorcycle Reference
Book, published by Middle Atlantic Dealers Association.
60. Locomotives and railroad cars. Bureau of Valuation (Interstate Commerce
Commission) cost indexes for steam locomotives; other locomotives; freight train
cars; and passenger train cars.
61. Ships and boats. Bureau of Valuation (Interstate Commerce Commission)
cost indexes for floating equipment, and for passenger car trains.
22
SURVEY OF CURRENT BUSINESS
May 1943
Public and Private Debt in the United States,
1916-42
By R. B. Bangs
N December 31, 1942, the total volume of private
O
indebtedness in the United States, calculated on a
net basis, stood at an estimated figure of more than
Mortgage indebtedness other than farm appears to
have changed very little in total volume during 1942.
Although home mortgages have been retired more
rapidly, new mortgages have also been created in larger
volume and these opposing forces appear to have nearly
balanced one another. Farm mortgage indebtedness,
which during recent years has been decreasing at a
diminishing rate, appears to have been retired more
rapidly last year, due no doubt to the very substantial
expansion in farm income.
Ketirement of short-term indebtedness during 1942
was considerably greater in dollar volume than the
repayment of long-term outstandings, due partly, of
113 billion dollars.1 This was approximately 3 billion
dollars less than the volume of private indebtedness
outstanding at the previous year end, and more than
28 billions below the 1929 peak level.
At the close of 1942, public debt, likewise on a net
basis, stood at more than 110 billion dollars, up more
than 45 billions from the previous year end and at the
highest level on record.2 Combined net public and
private indebtedness on December 31, 1942, thus totaled
nearly 224 billion dollars, as against only 181.4 billions
a year earlier.
Chart 1.—-Net Public and Piivate Debt Outstanding, End of
Recent Changes in the Debt Structure.
Year
BILLIONS OF DOLLARS
Changes in the debt structure during 1942 stemmed
125
chiefly from the various economic effects of the war
program and its accompanying financial developments.
It is commonplace that the enormous Federal Government outlays for war purposes further unbalanced the
budget and added nearly 47 billion dollars to the gross
debt of the Federal Government. State and local
government indebtedness, on the other hand, was
^*—Sr1^L
reduced slightly during 1942. Increased revenues
7
resulting from the gain in individuals incomes and
expenditures, coupled with decreased outlays for con2 5 &—.
struction and other purposes due to materials and
priority limitations made possible this application of
I9!6 '17 '18 '19 '20 '21 '22 '23 '24 '25 '26 '27 '28 '29 '30 '31 '32 '33 '34 '35 '36 '37 '38 '39 '40 '41 '42
State and local government revenue to debt reduction.
In the private sphere indebtedness for business purSource: U. S. Department of Commerce and U. S. Department of Agriculture.
poses appears to have been reduced somewhat more course, to the more rapid turnover of short-term loans.
than one might have expected considering the large Consumer credit was reduced nearly 3.5 billion dollars
increases in volume of activity which occurred in many by the shortages of consumer durable goods, the higher
lines. For example, railroads retired nearly 4 percent level of consumer disposable income, and the restrictive
of their funded debt during 1942 and similar reductions action against credit buying. Short-term debt for
were made by other public utility enterprises. Chief business purposes, owed principally to banks, also fell
reason for this trend is doubtless the fact that the appreciably as certain types of enterprises saw their
increased revenues of these public service enterprises activities curtailed and as other enterprises, contributcould not during the war be used for plant expansion ing more directly to the war program, were able to
due to material and labor shortages. Hence they have conduct their operations with less outside financing.
been applied to debt repayment.
The detailed estimates of outstanding short-term debt
1 This figure includes all indebtedness of business firms, individuals, and other
of individuals and unincorporated business enterprises
noncorporate borrowers except the obligations of banks to depositors, of life insurance
are shown in table 4.
companies to policyholders, and of individuals directly to one another. The nominal indebtedness between separate legal corporate entities which are nevertheless
Trends in the Volume of Outstanding Indebtedness.
parts of a single economic unit has been eliminated by consolidation of the corporate
D.D. 43-229
accounts.
2
Public debt is brought to a net basis by consolidating the accounts of the Federal
Government with those of its corporations and agencies and by eliminating that
indebtedness of State and local governments which is not in the hands of the public.
In order to add public and private debt together it is necessary also to offset loans
receivable by government agencies against the public debt since these loans appear
in private indebtedness. Details of the adjustments made in passing to net public
debt are contained in table 2.
Chart 1 shows the general trends in aggregate debt
over the past 26 years. It is clear that net private
debt grew steadily from 1916 through 1929, rising from
less than 68 billion dollars to 142 billions over this
18-year period. This trend reflects the growth in
May 1943
SURVEY OF CURRENT BUSINESS
productive activity, the rise in prices, and the increasing complexity of financial arrangements during these
years. Over the 13-year period long-term private
debt increased from 42 to more than 86 billion dollars
while short-term private debt expanded from 25 billion dollars to more than 55 billions. Virtually all
types of private debt contributed to this expansion in
aggregate outstandings.
During the period 1916-29 public debt also expanded
considerably, rising from less than 6 billion dollars
to more than 29 billions. Movements of these outstandings from year to year were naturally somewhat
different than the changes in private indebtedness.
Federal Government debt grew very rapidly under
the financial requirements of World War I, reaching
a peak o' more than 25 billion dollars in 1919. Thereafter, Federal Government indebtedness was reduced
moderately each year, and at the close of 1929 stood
at less than 16 billion dollars. State and local government indebtedness meanwhile was rising slowly but
steadily.
Chart 2.—Changes in Net Public and Private Debt
Outstanding, End of Year from End of Preceding Year
BILLIONS OF DOLLARS
+ 50!
+ 40
-20
I9I6- '17- '18- '19- '20-'2l- '22- "23-'24-'25-'26- '27-'28- '29-'30-'3!- '32- '33-'34-"35-'36-'37- '38-'39- '40-'4l'17 '18 '19 '20 '21 '22 '23 '24 '25 '26 '27 '28 '29 '30 '31 '32 '33 '34 '35 '36 '37 '38 '39 '40 '41 '42
D.D. 43-231
Source: U. S. Department of Commerce and U. S. Department of Agriculture.
During the period since 1929 trends in outstanding
indebtedness have been mixed. Federal Government
debt has grown rapidly while the debt of State and local
governments has risen only slightly. Private debt fell
rapidly from 1930 through 1935 and rose slowly thereafter until 1942. Short-term private debt changed
relatively more in volume and sooner in time than did
long-term private debt. This is evident from chart 2.
It is also apparent from chart 2 that changes in
aggregate outstanding indebtedness do not follow any
consistent cyclical pattern. With reference to the
turning points of past business cycles, as calculated
by the National Bureau of Economic Research, changes
in total short-term indebtedness does not show a clear
cycle. The cyclical fluctuations are somewhat plainer,
however, in the cases of certain components of the
aggregate, for example, short-term consumer debt.
In the case of long-term private indebtedness changes
is outstandings tend to lag somewhat behind general
23
cyclical swings. For urban real estate mortgages and
corporate long-term debt, this lag averages about 1
year. For farm mortgages the lag is somewhat greater,
or between 1 and 2 years. One reason for the lag, at
least at the lower turning point of the business cycle, is
the fact that defaulted obligations are included in the
debt aggregates along with undefaulted outstandings.
Thus the rate at which debts disappear from the
statistics is partly dependent upon legal as well as
economic processes.
Significance of estimates of indebtedness.
The debt aggregates, by themselves, have little
economic significance; but when broken down into
component parts and properly analyzed as financial
series covering the relatively long span of years for
which comparable estimates are now available, they
furnish additional material which is useful to those engaged in quantifying the economic and financial history
of the period covering the two World Wars.
The statistical data on public and private indebtedness shown in the accompanying tables are, in the main,
continuations of series previously published.3 Certain
revisions have been dictated by the availability of
additional new material, but the concepts and sources
of data are essentially unchanged from the earlier reports. Furthermore, research done by the Bureau of
Agricultural Economics has made it possible to extend
the series, which originally covered only the period since
1929, back to the year 1916.
The structure of indebtedness, both public and
private, is an important factor affecting the flow of
funds in any given period. Debts themselves usually
arise in the first instance either from a transfer of
funds, or from a transfer of goods or services without
counterbalancing money payments. Similarly the servicing and retirement of debt obligations give rise to
financialflow^swhich ramify through the entire framework of economic relationships. The tracing of these
financial flows which result from borrowing and lending
operations thus occupies a place in the type of analysis
which aims at depicting the flow of funds in its entirety.
Although the internally held debts of individuals,
business firms, and government units in this country
arise from and give rise to mere financial transfers, not
directly occasioning the allocation of economic resources as do expenditures, but simply bearing indirectly upon the processes of income formation and distribution, these transfers are not without economic
significance. Credit operations and their heritage of
debt affect not only the saving and investment processes
but the entire area of productive activity.
The estimates of public and private indebtedness
presented here are broken down by type of borrower and
by purpose of loan. Other break-downs are both possible and necessary for particular purposes. Indeed the
s Cf. Survey of Current Business, November 1941 and Indebtedness in the United
States, 1929-41, U. S. Government Printing Office, 1942.
24
SUEVEY OF CURRENT BUSINESS
present data supply only one part of the information
needed for the flow of fund types of analysis. For
this purpose complete and detailed data on the ownership of evidences of debt are also required. Given
this information the debt statistics might be crossclassified by type of borrower and lender. The struc-
Mav 1943
ture of the financial transfers resulting from credit
operations could then be observed as a more nearly
complete picture. Lacking this information of debt
ownership, caution must be exercised in drawing conclusions from data which tell only a partial story about
financial flows.
Table 1.—Outstanding Net Public and Private Debt, Year End, 1916-42
[Billions of dollars]
!
!
Public and
private,
total
Year
1916
1917
1918
1919
1920
1921
1922
1923
1924
1925
1926
1927
1928
1929
1930
1931
1932
1933
1934
1935
1936
1937
1938
1939
1940
1941
1942
...
...
...
_
.
_.
..
73.5
85.1
103.2
116.4
123.1
123.6
127.3
133.0
138.9
147.1
152 7
160.3
168.0
171.4
171.9
164.6
155. 5
149.4
149.2
150.8
154.5
158. 3
156.9
160.1
164.5
181.4
223.9
Public
Federal
Government and
Federal
agencies
Total
5.8
12.2
26.1
31.0
29.9
29.8
30.6
30.2
30.1
30.4
29.9
29.7
29.7
29.4
30.1
33.0
35.5
37.8
39.0
41.9
45.5
47.1
48.3
50.8
52.6
64.9
110.3
Private
Long-term
State and
local government
1.2
7.3
20.9
25.6
23.8
23.0
22.7
21.7
20.8
20.0
18 8
17.7
16.9
15.7
15.4
17.1
18.7
21.0
23.1
26.0
29.5
31.3
32.6
34.8
36 4
48.7
94.6
Total
Total
4.6
4.9
5.2
5.4
6.1
6.8
8.0
8.5
9.4
10.4
11.1
12.0
12.8
13.7
14.7
15.9
16.8
16.8
15.9
15.9
16.0
15.8
15.7
16.0
16.2
16.3
15.7
Farm
mortgages
27.9
28.4
28.9
29.7
31.2
32.4
32.9
34.7
36.8
38.0
40.0
42.5
44.1
45.3
48.9
48.0
46.8
45.4
42.8
41.6
40.4
42.1
43.4
42.5
42.1
41.6
40.7
5.8
6.5
7.1
8.4
10.2
10.7
10.9
10.7
9.9
9.7
9.7
9.8
9.8
9.6
9.5
9.2
8.6
42.3
44.5
45.9
48.6
53.6
56.2
58.2
62.1
65.8
69.5
74.2
79.7
84.3
86.6
91.0
89.1
85.5
80.7
77.3
75.1
73.0
74.7
76.1
75.5
75.7
76.1
75.2
67.7
72.9
77.1
85.4
93.2
93.8
96.7
102.8
108.7
116.6
122.9
130.6
138.2
142.0
141.8
131.6
120.0
111.6
110.3
109.0
109.0
111.2
108.6
109.4
111.9
116.5
113.5
Urban real Short-term
estate
mortgages
Corporate
25.5
28.4
31.2
36.8
39.6
37.5
38. 5
40.7
42.9
47.2
48.7
50.8
54.0
55.5
50.8
42.5
34.5
30.9
33.0
33.8
36.0
36.4
32.5
33.8
36.2
40.3
38.3
8.6
9.5
9.9
10.4
12.2
13.2
14.5
16.7
19.0
21.8
24.6
27.5
30.4
31.6
32.6
31.9
30.0
27.4
26.7
25.9
25.5
25.4
25.6
26.1
26.8
27.8
28.0
7.9
7.8
7.6
7.4
7.2
7.1
6.9
6.8
6.7
6.5
i Components will not necessarily add to totals because of rounding.
Sources: U. S. Department of Commerce, 1929-42; U. S. Department of Agriculture, 1916-28.
Table 2.—Gross and Net Public Debt, 1929-42 1
[Billions of dollars]
Item
Gross public debt.- _
Federal Government and Federal agencies. . .
Federal Government
- .
Federal agencies
State and local governments
Deductions:
Federal Government and Federal agencies
Federal Government and Federal agency holdings of
U. S. Government debt
Federal Government and Federal agency holdings of
Federal agencv debt
Loans receivable from public by Federal agencies
State and local government holdings of State and local debt__
Net public debt
Federal Government and Federal agencies
State and local governments
1929
1930
1931
1932
1933
1934
1935
1936
1937
1938
1939
1940
1941
1942
35.4
18.2
16.3
1 9
17.2
36.4
17.9
16.0
1 9
18.5
39.2
19.6
17.8
1 8
19.5
43.2
23.4
20.8
2 5
19.8
48.2
28.2
23.8
4.4
20.0
57.3
38.0
28.5
9 5
19.3
60.9
41.5
30.6
10.9
19.4
64.7
45.1
34 4
10.7
19.7
67.4
47.8
37.3
10.5
19.6
67.0
47.5
39.4
8.0
19.6
69.9
49.9
42.0
7.9
20.0
73.3
53.1
45.0
8.1
20.2
86.6
66.4
57.9
8.7
20.2
133.5
113.9
108.2
5.7
19.6
2 5
2 5
2 6
4 6
7 2
14 9
15.5
15. 6
16-5
14.8
15.1
16. 7
17.8
19.3
.9
.7
.5
.6
1.0
2.8
1.7
2.5
3.8
5.0
6.2
7.5
8.4
10.1
1
1 9
3.6
33 0
17.1
15.9
.9
3.1
3.0
35 5
18.7
16.8
2.5
3.8
3.2
37.8
21.0
16.8
4.7
7.4
3.4
39 0
23.1
15.9
5.3
8.4
3.5
41.9
26.0
15.9
4.9
8.2
3.6
45.5
29.5
16.0
4.8
7.8
3.8
47.1
31.3
15.8
2.0
7.9
3.9
48.3
32.6
15.7
1.2
7.8
4.0
50.8
34.8
16.0
1.2
7.9
4.0
52.6
36.4
16.2
.9
8.5
3.9
64.9
48.7
16.3
1.0
8.1
3.9
110.3
94.6
15.7
1942
.1
1 4
3.5
29 4
15.7
13.7
. l
1 7
3.8
30 1
15.4
14.7
1
Components will not necessarily add to totals because of rounding.
Sources: U. S. Treasury Department and U. S. Department of Commerce.
Table 3.-—Gross and Net Corporate Debt, 1929-42
[Billions of dollars]
Item
Gross corporate3 debt 2__
Long-term 3
Short-term
Intercorporate debt..
Long-term
.. _ _ .
Short-term
Net corporate debt __
Long-term
Short-term
1929
1930
1931
1932
1933
1934
1935
1936
1937
1938
1939
1940
1941
90.3
55.3
34 9
16.4
10.0
6 3
73 9
45.3
28.6
91.7
59.8
31 9
16.6
10.8
5 8
75 1
48.9
26.1
87.0
58.6
28 4
15 7
10.6
5 1
71 3
48.0
23.2
82.0
57.1
24 8
14 8
10.3
4 5
67 2
46.8
20.4
78.8
55.4
23 4
14.2
10.0
4 2
64 6
45.4
19.2
77.9
52.2
25 7
14.0
9.4
4 6
63 9
42.8
21.1
76.5
50.7
25 8
13.7
9.1
4 6
62 8
41.6
21.2
75.5
48.9
26.6
13.2
8.6
4.7
62.3
40.4
21.9
76.6
50.8
25.8
13.1
8.7
4.4
63.5
42.1
21.4
74.3
52.1
22.1
12.4
8.7
3.7
61.9
43.4
18.4
73.8
51.0
22.8
12.2
8.4
3 8
61.6
42.5
19.1
74.1
50.4
23.7
12.2
8.3
3.9
61.9
42.1
19.8
75.3
49.8
25.5
12.3
8.2
4.1
63.0
41.6
21.3
76.8
48.8
28.0
12.3
8.2
4.2
64.5
40.7
23.8
12 Components will not necessarily add to totals because of rounding.
Data for 1929-40 adapted from reports of the Bureau of Internal Revenue except for railroads which are from tabulations of the Interstate Commerce Commission. For
1929-34
B. I. R. reports are partially on a consolidated basis, thus requiring adjustment to an unconsolidated basis for comparability over the entire period.
8
of less than 1 year.
Long-term debt is denned as having an original maturity of 1 year or more from date of issue, short-term debt as having an original1 maturity
n
Sources: U. S. Treasury Department, U. S. Department of Commerce, and Interstate Commerce Commission.
May 1943
25
SURVEY OF CURRENT BUSINESS
Table 4.—Short-Term Debt of Individuals and Other Noncorporate Borrowers, 1929-42
1
[Billions of dollars]
Item
Total
Commercial purposes
Owed to banks
_
Owed to brokers
Owed to Government farm-credit agencies
Consumer purposes
__
1929
1930
1931
1932
1933
1934
1935
1936
1937
1938
1939
1940
1941
26.8
19.8
14.7
5.0
.1
24.7
18.3
15.3
2.8
.3
19.3
14.1
12.5
1.3
.3
14.1
10.3
9.1
.8
.4
11.7
8.0
6.5
1.3
.6
11.9
7.7
6.1
1.2
.5
14.0
7.4
5.2
1.0
1.2
14.8
7.2
5.2
.9
1.1
16.4
7.6
5.6
.7
1.4
19.0
9.5
7.5
.6
14
14.5
8.5
6.4
.5
1.5
6.3
5.2
3.8
3.7
4.2
14.0
7.6
5.6
1.4
.7
15.0
8.0
6.1
1.0
.9
7.1
12.6
7.5
5.5
1.3
.7
7.1
6.6
7.5
8.8
9.5
6.1
5.1
6.4
1942
1
Components will not necessarily add to totals because of rounding.
Sources: U. S. Department of Commerce and U. S. Department of Agriculture.
Statistical Note
Data presented in this article are designed as a continuation of the series previously
published in the November 1941 issue of the Survey and in the special bulletin (Department of Commerce economic series No. 21) entitled "Indebtedness in the United
States, 1929-41." Certain revisions have been made in the data for the years prior
to 1942 in order to take account of new information which has become available since
the previous publications. For example, the series on short-term consumer debt
has been adjusted to agree with that published in the November 1942 issue of the
Survey and consequently to match the current figures being prepared by the Board
of Governors of the Federal Reserve System. Minor revisions have also been made
in the series on mortgage indebtedness against 1-4 family nonfarm residences as a
result of additional work by the Federal Home Loan Bank Board.
The corporate indebtedness series has been adjusted to Bureau of Internal Revenue
tabulations through 1940 in the case of all corporations except railroads for which
data from the Interstate Commerce Commission were substituted. In order to
project these base figures through 1942, reliance was placed upon overall data on
security issues and retirements prepared by the Securities and Exchange Commission,
and upon the corporate sample maintained by the Bureau of Foreign and Domestic
Commerce for the purpose of estimating current changes in corporate profits. Projections from the sample were made only by major industrial divisions, except in
the case of manufacturing where the sample data by minor groups were employed.
Availability of 1940 Internal Revenue tabulations indicates that the sample data
522777—43
1
on changes in indebtedness are somewhat too sensitive at the present time when
changes in aggregate corporate debt are relatively small. Revisions in the corporate
debt series for years since 1940 will undoubtedly be necessary when additional tabulations of income tax data become available.
The estimates for years prior to 1929 were constructed by the Division of Statistical
and Historical Research of the Bureau of Agricultural Economics. In the main,
their method was to accept the Commerce figures for 1929 as a base and to extrapol ate
backward by means of other available series. Data on Federal government debt are
readily available in the Daily Treasury Statement and in the annual reports of the
Secretary of the Treasury. Treasury data on tax exempt State and local government
debt were used to extrapolate the 1929 net State and local government debt estimate
backward for prior years. Pre-1929 estimates of private long-term debt were based
upon National Industrial Conference Board data as published in "Private Long-Term
Debts and Interest in the United States" The Conference Board's corporate debt
figures had to be raised slightly since their coverage is less complete than that of the
Commerce series. However, the Conference Board mortgage debt estimates are
similar to those available since 1929 and hence could be used directly.
The estimated outstanding of private short-term debt in years prior to 1929 were
based principally on the figures for commercial loans of all banks as given in the
annual reports of the Federal Reserve Board. Since the coverage of these extrapolating series is not complete it was necessary to raise them by approximately 35 percent.
For further technical notes bearing on the methods of estimate the reader should
consult the appendix to "Indebtedness in the United States, 1929-41."
26
SURVEY OF CURRENT BUSINESS
May 1943
NEW OR REVISED SERIES
Table 5.—INDEXES OF VOLUME OF TRANSPORTATION, ALL TYPES; ANNUALLY, 1929-38, AND
MONTHLY, 1939-42 1
[Daily average 1935-39=100]
Combined index, all types
Intercity motor
Railroads
Waterborne
(doPas- messentic)
ger
Oi!
Year and month
Local
Com- I Fas- Com- "Form o d - I sen- i bined j hire"
ity ) ger
index | truck
Total
gas
Bus
Combined
jipe-
line
index
Commodity
UNADJUSTED FOR SEASONAL VARIATION
\
1929 annual
1930 annual
1931 annual
1932 annual
1933 annual
1934 annual
1935 annual
1936 annual
1937 annual
1938 annual
index
index
index
index
index
index
index
index
index
index
118
j
J
j
j
j
j
104 !
89 i
73 !
77 1
83 !
88 ;
102 !
110
95
1939:
January
February
March
April
May
June
July
August
September
October
November
December
Annual index
!
;
.
;
i
I
----!
;
.
j
I
]
>
i
i
!
97
98
116 i
102 !
86
70
75
81
86
;
|
I
!
95 •
81 i
87
102
111
95
102 !
95
96
96 i
97 ;
98
87
93
105
103
110
127
134
124
107
in ;
94
97
106
104 I
110 •
123
127 ;
118
107
116 !
102 i
86 i
70 :
75 !
94
106
106
112
126
130
120
107
106
1940:
January
February
March
April
May
June
July
August
September
October
November
December
Annual index
107
106
105
105
112
117
115
122
126
128
124
118
<
I
;
i
|
I
!
|
!
107
106
105
105
113
119
118
126
129
131
126 i
120 ]
115 !
1941:
January
February
March
April
May
June
July
August
September
October
November
December
Annual index
1942:
January
February
March
April
May
June
July
August
September
October
November
December
Annual index
119;
125 j
130 |
121 !
141 I
148
149
156
156
160
150
!
;
i
i
j
|
146 I
121
127
133
123
145
154
156
164
163
166
155
149
121
127
134
122
148
154
155
163
164
169
157
147
j
;
!
i
|
!
142 |
147
152 |
157 i
167 :
174 i
180 !
185 |
193
195 I
203 !
196 I
191 |
_..
179
j
150 !
156 !
161 !
172 I
180
186
192
201
206
211
203
195
|
!
;
j
i
!
i
I
148
153
159
169
175
179
184
190
195
202
192
1S1
185 !
78
83 !
100 I
111 1
101 !
93 ;
89 i
87 |
117
128
127
120
103
92
112
103 !
105 i
102
101
103
102
102
110
108
114
112
119
106
118
108
107
105
106
115
119
117
124
130
134
129
118
88
97 i
97 ;
98 !
98 I
100 ;
108 !
108 I
108 I
108 !
104 j
99 I
109 |
i
;
j
114 i
103 ;
122
111
99
83
81
87
90
101
107
100
l
101
97
ioi
98
!
!
j
!
!
!
i
!
i
i
j
;
!
:
!
loo !
121 |
i
!
!
i
i
|
110
126
112
106
127
j
I
|
!
|
35 i
40 ;
45 i
112
121
130
126
129
134
124
135
136
139
138 i
162
89 :
90
115
129
147
169
170 ;
175
182
180 !
161 j
166 i
107 ;
115 !
109 !
127 i
136 I
130 !
124 ;
111 ;
132
148 i
112 !
108 ;
108
141
146
174
188
201
220
217
234
236
246
196
180
138
144
152
152
152
150
150
159
161
174
161
176
198 !
116
117
120
119
128
130
136
132
143 i
121
122
128
128
152
163
175
155
143
140
167
174
204
209
244
266
285
289
306
316
299
254
259
126!
143
259
!
142
148
148
160
168
181
189
202
207
207
164
173
170
192
211
233
255
284
286
276
284
302
261
270
311
349
326
287
302
326
343
351
337
320
I
|
I
|
j
i
|
|
i
!
j
j
j
I
!
;
j
129 I
•
!
!
|
!
|
!
|
!
209 I
226 |
183 i
236 I
I
j
i
i
I
98
103
121
128
140
155
151
159
164
164
152
164
113 !
!
I
'
!
;
!
I
!
I
62
66
68
68
71
38 !
37
62 !
88 i
103
113
39 I
107 j
|
113 I
''
i
10 i
17 •
21
25 j
34 !
37 ;
62 '
20
26
31
31
36
37
62
87
98
112
i
!
i
!
i
:
:
i
I
i
315
|
I
!
!
!
j
'
'
se;
94
110 i
143
147 i
188:
212 I
233 i
267 1
262 I
284
285
294
218 !
183 :
78 I
85 !
95 I
106
102 '
93 i
97 I
99 I
94 I
108 I
113
116
127
124
135
136
149
146
133
!
!
I
!
i
I
j
59
62
67
68
72
S3 '
100 1
109 :
105
128
119
108 i
92 i
88 '
95
96
101
103
99
59
64 !
81
89
115
106
84
88
105
112
91
110 I
81
85
96
97
114
128
131
120
101
97
114
100 :
104 '
106 !
1 0 4 '••
103 j
100
90
92
98
104
104
106
113 i
116 i
110 !
110
108
107
111
97
107
112
114
113
95
95
95
84
87
100
103
107
124
130
117
106
114 j
104
113
114
111
118
121
129
123
135
140
162
157
136
91
89
99
94
100
117
126
137 \
122
107 i
109 !
78 I
85
94
105
101
95
102
103
93
110
116
103
126
141
139 I
132 I
130 i
162
184
184
196
196
201
!
:
;
I
!
j
207 I
212
219
222
217
261
j
I
i
|
I
182
218
128
140 I
276
312;
341
343 l
368 !
380 i
351 I
278 •
258 !
205 !
273
992
303
311
324
349
406
431
438
466
352
263
268
324
380
337
263
270
296
301
298
270
224
291
!
;
!
i
j
147
162
163
173
177
182
185
188
168
172
I
I
I
1
i
j
!
i
i
195 !
108
103 l
113
103
98
96
93
91
115
120
133
118
103
98
125
96
100
135
144
141
140
140
140
129
103
133
124
156
163
174
185
196
198
203
209
214
221
209
195
164
173
164
184
205
234
256
289
304
296
314
339
76
62
62
77
84
86
85
84
81
77
65
42
216 I
216 I
190 I
214
!
i
!
I
I
133 I
105
91
88
91
84
106
130
124
132
132
140
132
106
102
99
95
124
141
148
145
146
137
134
126
92
142 l:
149 ;
147
162 :
224 j
124 !
126 !
130 !
96
93
86
93
93
115
126
123
116
100
85
120
121
120
120
115
141 i
148
158
140
128
128
164
273
250
235
227
240
211 I
126 I
94
95
96
83
86
99
100
105
125
134
121
121
127
136
109
145
152
154
165
165
171
159
149
146
252 I
174 I
165
180
185
200 i
!
!
i
!
!
i
|
I
!
78
81
97
112
97
10S
157
164
173
185
197
202
209
218
224
230
221
212
161
183
207
227
112
109
104
104
112
117
!
!
!
|
81
85
101
113
98
115
147
147
136
135
128
129
132
134
141
145 I
152 i
155 !
151 I
161 I
112 |
112 I
114 i
85
114
124
12S
131 ;
135 !
134 :
137 !
134 ;
161 I
172
170 !
!
!
!
I
•
!
i
122
127
125
130
124
129 !
200 l
174
175 !
109 i
89
106
112
90
i
!
I
!
i
I
1
I
!
i
!
!
78
70
58
109
106
104
103
111
114
113
122
128
129
124
117
112
192 I
106 !
110 j
114 !
127
131
150
171
185
160
149
147
161
87
97
108 i
105
103
102 !
108
114
113
123
127
126
121
118
140
144 ,
180
179
181
159 I
175 I
93 I
101 ;
107
107
111 i
1 1 5 '••
122 !
116
114
111
109
105
105
108
109
115
119
141
121
100
76
140
120
73
78
/o
123 I
173 I
172 I
191
201
217
220
226
218
222
124 I
110 I
104 i
105 !
105 i
106;
104 :
100 !
93 :
140
120
97
121
126
134
110
142
151
153
164
162
166
155
151
145
134 i
150
157
172 !
165 :
169 !
168 !
176 !
73
68
70 ;
:
i
|
;
'
i
i
!
!
i
!
i
!
!
!
73
ADJUSTED FOR SEASONAL VARIATION
1939:
January
February
March.
April
101
101
.
-
May
June
July
August
September
October
November
December
_._ _
.__ _ .
*For footnote see p. 27.
102
94
97
104
104
105
115
118
115
110
101
101
102
93
96
104
105
106
116
120
117
112
101
102
102
91
95
103
104
106
117
192
118
112
99
99
100
101
103
104
105
104
106
105
103
104
99
98
98
103
105
107
110
105
110
109
105
108
123
120 1
130
129
135
139
141
141
146
148
162
186
121
122
126
124
127
130
129
135
136
136
142
155
125
118
132
131
140
144
148
145
152
156
174
206
105
104
106
98
109
111
106
117
124
119
119
117
106
107
108
96
112
113
106
121
129
123
123
119
100
96
99
104
102
104
107
104
109
106
105
111
99
100
102
100
102
102
100
102
102
102
102
100
110
110
109
107
109
108
116
102
110
114
113
112
98
99
99
90
90
100
102
101
115
120
115
109
98
99
99
97
117
98
95
101
104
106
110
103
109
107
100
110
101
88
89
99
101
101
115
122
104
106
106
92
102
112
112
116
116
122
124
120
27
SURVEY OF CURRENT BUSINESS
May 1943
Table 5.—INDEXES OF VOLUME OF TRANSPORTATION, ALL TYPES; ANNUALLY, 1929-38, AND
MONTHLY, 1939-42 x —Continued
[Daily average 1935-39=100]
Combined index, all types
Total
exComelud- modTotal
ing
ity
local
transit
Year and month
Intercity motor
Air
Railroads
PassenPassenger
Waterborne
Oil
ger
Com- Commodelud- bined
index
ing
local
transit
Passenger
Com- "Forbined hire"
index truck
Local
transit
Bus
and
gas
pipeline
Com- Combined
index
Passenger
modity
(do-
tic)
!
ADJU STED ]FOR SEASONAL VARIATION—Continue d
1940:
January
February
March
April
May
June
July
August
September
October...
November.. __
December
.
..
1941:
January
February
March
April
May. ..
June- ...- . . .
Julv . . .
August...
September
October
November.. _ ...
December
1942:
January
Februarv.._
March
A»ril
_
May...
June
July
August
September..
October
November
December-
.
_
_. ._
112
110
110
110
114
114
114
116
118
119
121
122
114
111
111
112
115
116
116
118
120
121
124
125
114
112
111
113
116
117
117
119
120
121
124
125
105
104
106
103
105
106
106
109
109
110
112
113
108
108
113
106
108
111
109
115
115
117
121
122
ISO
177
189
190
193
195
200
204
207
220
208
203
150
145
147
150
151
140
156
159
161
170
166
168
127
131
136
126
143
146
149
149
146
148
147
151
130
135
140
129
148
151
154
154
150
153
151
155
129
135
141
128
149
153
156
155
151
153
150
155
119
120
121
122
123
123
126
128
128
131
137
137
132
135
137
138
138
139
140
144
142
150
159
161
223
245
227
246
256
254
266
268
278
269
270
292
153
158
162
172
175
177
184
187
190
195
194
194
157
163
167
178
181
183
189
192
197
202
202
200
155
159
164
174
176
178
183
185
187
191
187
187
147
154
155
163
172
175
185
194
203
210
218
218
177
191
191
205
221
219
229
248
271
285
307
295
332
321
336
353
316
261
287
29G
313
323
356
345
199
199
216
216
922
228
234
237
253
236
226
121
116
116
118
119
122
122
125
124
136
140
141
126
120
116
123
123
127
127
130
129
144
146
147
106
105
115
102
105
107
105
109
110
112
118
120
103
102
101
102
103
101
103
103
105
105
105
105
112
116
115
111
112
111
110
110
111
112
113
117
112
110
107
109
113
114
113
116
118
117
119
121
114
115
114
117
119
117
120
122
175
180
178
193
194
196
215
212
219
217
223
250
254
284
259
282
297
292
300
305
316
303
302
320
148
151
157
168
167
167
175
167
169
172
162
181
150
158
165
178
175
177
185
174
176
177
168
182
141
130
132
137
138
137
143
147
145
157
159
156
107
108
.107
109
111
111
115
115
116
115
114
117
119
121
123
126
125
128
130
132
133
136
138
140
125
131
139
118
147
151
153
155
150
153
153
155
279
276
282
298
308
31(1
325
372
407
421
451
447
307
350
372
3S8
321
179
183
180
183
180
184
196
198
201
210
211
233
170
177
175
178
165
178
189
196
201
209
208
225
177
189
187
198
218
207
211
216
227
247
245
232
123
124
125
129
132
139
149
149
147
147
145
154
140
136
130
132
132
135
140
142
146
149
151
150
160
168
177
192
201
202
208
211
216
221
221
214
99')
99~
236
245
251
258
277
113
111
107
103
103
106
116
117
106
103
121
116
124
121
123
119
123
122
126
123
110
101
126
132
140
116
150
154
156
158
152
155
153
155
120
128
132
130
128
131
129
133
130
138
151
154
128
128
123
130
127
127
128
126
120
113
114
120
159
167
176
191
199
199
204
205
206
210
205
165
182
181
197
216
225
238
264
294
307
340
107
96
90
84
67
66
64
62
61
57
57
67
199
102
106
104
112
no
111
328
i Revised scries compiled by the United States Department of Commerce, Bureau of Foreign and Domestic Commerce. These indexes of commercial transportation in
the United States represent a revision of those published in the ''Survey of Current Business," September 1942. They are occasioned by the availability of additional information and the development of more refined techniques for measuring the monthly movements of some of the component series.
The major revisions were made in the intercity truck and in the oil and gas pipe-lines transport agencies. Revisions were also made in the relative weights used in combining the various series. Oil pipe-line movements are now interpolated by a weighted index of crude petroleum production, motor fuel turned into pipelines, and crude
petroleum receipts by pipe line at refineries. A correction is applied to adjust for changes in average haul. Gas pipe-line performance is now expressed in terms of cubic-footmilcs instead of cubic feet transported. The intercity motortruck series which was formerly interpolated monthly by employment in the industry, is now estimated by an
index constructed from data on truckloading collected by the American Trucking Association. The annual volume of ton-mile performance of all the above mentioned
agencies of transport were derived by techniques developed in the Department of Commerce but were based on studies made by various organizations, both governmental and
private.
Two series have been added to the number originally published as a result of a number of requests for an index representing intercity traffic only. These series are a combined passenger and commodity index excluding local transit, and a combined passenger index excluding local transit. The weights .used in combining the series and the
volume, of traffic in the base period are given below.
Weight
Weight
Operating
Operating
Weight
Weight
in total
1935-39 annual average revenues
1935-39 annual average revenues
in total
in interin interindex
traffic
(mil. of
index
city
traffic
city
(mil. of
Type of transportation
(millions)
dol.)
index
(millions)
Type of transportation
index
dol.)
7.84
Railroad
._ 3,573
58.54
67.11
Water (domestic)
9.00
479
5.60
Commodity
352,237 (ton-miles)
3,163
51.82
59.41
Coastal and inter-coastal 201,000 (ton-miles)
6.43
342
2.57
2. 24
79,863 (ton-miles)
Passenger
21,944 (passenger-miles)
410
6.72
7.70
Inland waterways
137
780
12.78
12,841 (passengers)
Motor (intercity)
899
14.73
16.89
Local transit
Commodity (for hire).
17,971 (ton-miles)
689
11.29
12.95
100. 00
Passenger
210
3.44
3.94
Total
.
6,104
76.65
Air
.
40
.66
.75
Commodity
4,679
23.35
Commodity
9 (ton-miles)..
15
.25
.28
Passenger
1,425
100.00
Passenger
507 (passenger-miles)
25
.41
.47
Total intercity,...
5,324
87.89
Pipeline
5.45
6.25
Commodity
4,679
12.11
Oil
_'
59,041 (ton-miles) __
261
4.28
4.90
Passenger
.
645
Natural gas
227, 353 (M cu. ft.-miles)
72
1.17
1.35
For further information on the methods and basic data used in deriving the component series the reader is referred to the "Survey of Current Business," September 1942,
pp. 20-28, or to the Division of Research and Statistics, Current Business Analysis Unit, Bureau of Foreign and Domestic Commerce. Data for January and February 1943
are on p. S-21 of this issue.
28
SURVEY OF CURRENT BUSINESS
May 1943
1
Table 6.—CASH FARM INCOME
Cash farm
income
Indexes of cash income from farm marketings (1935-39 = 100)
(millions of
dollars)
Cash farm
Indexes of cash income from farm marketincome
ings (1935-39 = 100)
(millions of
dollars)
Year and
month
Total,
incl.
Government
payments
Monthly avg.:
1913
1914
1915
1916
1917
1918
1919
1920 . .
1921
1922
1923
1924
1925
1926
1927
1928
1929
1930
1931
1932
1933
1934
1935
January
February
March.
April
May
June
July
August
September
October.
...
November
December
Total
Monthly avg...
Crops and
livestock,
Livestock and products
In(adjusted) 2
come combined
index
Crops
from
(adfarm
Justmar- UnAd- ed)* Com- Dairy Meat Poulket- adtry
bined prod- ani- and
ings j u s t - justed
index
mals
ucts
eggs
ed
6,248
6,050
6,403
7,750
10, 746
13 461
14, 602
12, 608
8 150
8,594
9,563
10, 221
10,995
10 564
10, 756
11 072
11,298
9,021
6, 371
4,743
5 445 5 314
6 780 6,334
78 4
75.9
80.3
97.2
134.8
168 8
183.1
158.1
102 2
107.8
119.9
128. 2
137. 9
132 5
134.9
138.9
141.7
113. 1
79.9
59.5
66 6
79.4
71.0
63.0
67.5
74.0
76.5
74.5
84.0
100 0
115. 5
134.5
113.0
93.0
638
471
420
448
492
509
493
559
664
768
893
752
617
7,086
591
541
458
528
559
596
654
790
792
940
1, 056
947
793
8 654
721
540
458
513
522
537
597
766
781
934
1,034
928
757
8,367
697
81.5
69.0
77.0
78.5
81.0
90.0
115.5
117.5
140.5
155.5
140.0
114.0
683
578
714
641
630
690
830
839
948
1,026
908
730
9,217
640
526
602
578
597
663
819
834
943
1,021
905
722
96.5
79.0
90.5
87.0
90.0
100.0
123.0
125.5
142.0
153. 5
136.0
108.5
8, 850
768
738
535
469
497
541
545
523
578
708
825
955
816
667
7,659
1936
January
February
March
April
May
June
July
August
September
November
December
Total . __
Monthly avg
1937
January
March
April
May
June.-.
July
August
September
October
November. ..._
December
Total
Monthly avg...
1
90.3
85.2
95.7
118.0
165. 2
203.8
223. 9
194.2
122.5
126. 1
142.5
158.0
161.2
142 7
150.5
147.2
149.5
112. 1
74.0
58.3
72 2
87.7
81.0
84.5
86.5
95.5
90.5
87.5
86.5
91 0
91.0
92. 0
91.0
93.0
88.9
93.5
94 0
97.0
99.5
96.5
103.5
111.5
114.0
111.0
106.5
112.0
112.0
104.9
111.0
107.0
106.5
113.0
107.0
106.5
121.0
113.5
117.5
110.5
106.0
108.5
105.5
69.4
47.5
68.9
47.3
68.7
48.6
81.5
54.2
111.9
73.0
142.5
88. 7
152.4 108.0
131.0 108.5
86.9
85.2
94.0
83.1
102.9 101.1
105.7
99. 8
120. 3 107.5
124 8 111 1
123.2 119.6
132 6 124 6
135.7 130.4
114.0 114. 1
84.4
90.6
60.4
70.0
62 5
71 3
73.3
81.3
84.5
82.6
80.5
100.5
141.6
186.3
184.2
140.2
83.9
100.4
101.5
107.6
126.5
131 3
126.1
136. 4
137.3
113.0
79.3
52. 8
55.9
66.8
58.7
61.3
61.5
68.2
91.1
107.4
136.8
142. 2
101.5
98.5
109.9
111.9
127.8
134 6
125.2
138.1
145.4
122.9
91.9
68.7
63.3
75.6
79.0
80.5
85.0
97.5
84.0
85.5
85.0
91 5
91.5
93. 0
93.5
84.5
82.0
87.0
87.0
94.0
94.5
88.5
87.0
91 0
90.0
91. 5
89.5
99.0
89.5
90.0
94.0
100.5
102.5
93.0
91.0
91 0
90. 5
89.0
87.5
94.0
78.0
84.0
82.5
89.0
87.5
79.5
80.0
88 0
86.5
91. 5
87.5
103.5
83.5
93.5
91.0
100.5
104.0
105. 0
100.0
99 5
100.0
98. 5
97.5
98.0
86.9
90.4
93.0
86.4
98.4
88.5
87.0
95.5
100. 0
98.5
103.5
119.0
122.5
119.5
104.5
109.5
110.5
97.0
98 5
98.0
99.5
95.5
103.5
106.5
108.0
105.5
107.5
114.0
113.0
97.0
99 0
102 0
102.0
101 0
100.0
107 0
111.5
110.0
112.5
110.5
107. 5
97.0
94 0
96.5
97.0
88.0
103.5
106. 0
107.5
104.0
107. 0
120.5
120.5
99.5
108.0
93.0
101.0
103.5
108.0
106.5
104.0
100.5
101.5
102.0
100. 0
106.6
103.7
108.5
112.0
115.5
107.0
107.0
140.0
127.5
122.5
112.0
103.5
109.5
108.0
108.0 105.0
102.5
97.5
111.5 109.5
107.5 106.5
106.5 114.0
108.5 106.5
104.0 108.5
114.0 107.5
109. 5 105.5
107.5 109.5
107.5 114.5
104.0 112.5
115.2
107.8
104.9
108.2
103.3 102.0
106.5
105.0
112.5
106.0
101.5
111.0
100.0
119.5
112.0
106.5
103. 5
99.0
105.0
99.5
107.5
108.0
102.0
103.0
104.0
108.0
107.0
107.5
106.0
103.5
107.0 106.2
Year and
month
Total,
incl.
Government
payments
Crops and
Livestock and products
livestock,
In(adjusted) 2
come combined
index
Crops
from
(adfarm
justmar- Unket- adAd- ed) 2 Com- Dairy Meat Poultry
bined prod- ani- and
ings just- justindex ucts mals eggs
ed
ed
1938
JanuaryFebruary . . .
March
April
May
June
July
August
September
October.
November
December _ ._
Total
.
Monthly avg
647
494
529
504
538
560
652
666
778
921
777
620
8 168
7,686
681
641
660
545
640
605
626
587
653
708
915
1,034
921
790
619
489
545
515
546
535
617
666
849
952
845
699
8 684
7,877
724
656
98.8
762
635
623
633
599
593
703
745
903
1 148
965
836
636
537
556
568
571
568
667
703
849
1,072
886
766
95.5
81.0
83 5
85.5
86 0
85.5
100.5
106.0
128.0
161 5
133.5
115.5
9,145
8, 379
762
698
104.6
761
661
716
732
783
822
928
1,138
1,314
1,485
1,278
1,212
674
579
645
693
759
797
913
1,118
1,286
1,442
1,210
1,128
101.5
87.0
97.0
104.5
114.5
120.0
137.5
168.5
193.5
217.0
182.0
170.0
1939
January .
February
March ..
April
May
June
Tnl v
August
September
October
November
December
Total
Monthly avg _.
1940
January
February . ..
March
April _
Mav
June _
July
. .
August
September
October
November
December
Total
Monthly avg___
1941
January
February..
March..
April_
May
July
September
October
November
December
Total
Monthly avg__.
97.5 111 5
74.5 106 5
79. 5 104 5
76.0
96 0
81 0
93 0
84 5
96 0
98.0
96 0
100 0
96 0
117 0
95 5
138. 5 97.0
117 0
96 5
93.5
92 0
664
525
589
564
582
605
686
681
805
983
825
659
96 4
89.0
96.5
90.5
82.0
103.5
98.5
99.5
93.0
97.5
99.5
102.0
100.5
99.5
97.0
100.5
99.0
108.5
101.5
103.5
99.0
100 5
95.0
97.5
97.5
97.0
95.5
91.0
94.0
101.5
96.5
99.0
89.0
96 0
102.5
105.5
103. 5
101.5
97.5
105.0
100.5
102.5
97.0
95.5
94.5
96.5
100.5
101.5
99.5
101.5
100.5
104.5
104.5
93.1
98.9
98.5
99.7
98.8
100.5
100.5
102.0
96.5
100. 5
94.5
97.0
93.0
101.5
103.0
104.5
99.5
96.0
97.5
90.5
90.0
89.0
90.5
92 0
95.5
98.0
101.5
105.5
104.0
98.2
99.2
95.5
103.5
94.5
100.5
105.0
97.5
97.5
84.5
83.5
82.0
91.5
97.0
122.0
101.0
105.0
102.5
107.5
101.0
104.5
103.0
101.0
107.0
104.0
108. 5
112.0
114.0
120.5
104.5
113.5
107.5
110.0
105.0
105.0
102.5
102.5
107.0
107.5
113.0
117.0
103.0
102.5
95.0
104.5
103.5
101.5
114.0
109.0
113.5
118.5
117.0
123.0
99.0
111.0
105.5
94.0
94.0
90.5
93.5
92.5
96.5
101.0
106.5
121.0
101.3
107.1
107.7
109.2
99.3
108.5
108.5
123. C
116.5
137.0
146.5
136.0
163.5
153.5
150.5
155.0
163.0
121.0
125.5
124.0
136.0
137.0
144.0
146.5
145.0
150.5
152.0
151.0
170.5
113.5
117.5
119.0
129.5
136.0
138.5
140.5
140.0
145.0
145.5
145.0
141.5
125.0
133. 0
127.0
143.5
140.5
150.0
152.0
149.5
157.5
159.0
154.5
190.0
124.0
116.5
122.5
125.0
125.0
135.0
142.0
141.0
142.0
145.0
155.0
174.5
137.7
141.9
134.6
148.5 136.1
123.0
118.5
112 0
100.5
87 0
91.5
87.5
no r
93.0 101 0 102.0
97.5
73 5
99 0
97.0
82.0 100 0
90.0
77. 5 94.0
95.5
82.0
98.5
79.5
80.5
88.5
78.0
93.0
89.5
92 5
100.0
93.0
99^5
128.0 100.5
143. 5 102.0 100.5
127.0 106. 0 108.5
105.0 103.5 109.5
102.0
106.5
99 5
101.5
95 5
94.0
97.0
99.0
104.0
116 0
109.0
114.0
116.0
118.5
123.5
128.0
137.0
145.0
142. §
152.5
152.0
151.5
153.0
167.5
102.5 105.5
102.5 102.0
108.0 107.5
102.5 94.0
112.5 89.0
100.0 86.0
102.0 91.0
92.5 90.0
107.5 90.5
107.5 91.5
106.0 99.5
96.5 98.5
11,830 11, 244
986
937
140.1
Compiled by the U.S. Department of Agriculture, Bureau of Agricultural Economics. The monthly estimates of cash income from farm marketings and indexes derived
therefrom have been revised to incorporate additional data on marketings and prices and to adjust seasonal correction factors for the various commodities to allow for changing
market conditions and for the influence of government loans on seasonal trends in marketings; also the index has been shifted to a 1935-39 base.
The monthly estimates of income from farm marketings are derived from estimates of monthly sales and prices of the various farm commodities. Where farm products
are placed under loans to the Commodity Credit Corporation, the amount of the loan is considered income at the time the commodity is placed uxider loan. If the product
is later redeemed or sold, any additional income above cost of redemption is credited at the time of redemption. The levised estimates include income from a number of
minor products for which current estimates of marketings were not heretofore available. The monthly estimates are now coordinated with the annual estimates of cash farm
income so that the monthly figures for the 12 calendar-yeai months are equal to the annual estimates, except for 1940-42. Annual estimates for these years, which have recently been compiled, differ slightly from the totals of the monthly estimates.
The unadjusted monthly index for total income from marketings of crops and livestock products combined is computed by dividing the total income for each month by
the average monthly income from all products in the base period. In computing the seasonally adjusted indexes, income from each commodity is corrected for seasonal variation. Shifting seasonal factors are used in adjusting data for many of the more important farm products to allow for marked changes in the seasonal variation in income.
The seasonally adjusted income figures for the different commodities are combined into groups and totals and the adjusted indexes are then computed in the same manner as the
unadjusted ind^x.
The dollarfiguresshown here for total income from marketings and the total cash farm income, which includes government payments to farmers, not shown separately,
and income from marketings, have not heretofore been included in the Survey but will be shown regularly on p. S-l beginning with this issue. The revised indexes supersede those shown in the 1942 Supplement. For a more complete description of the data see mimeographed report of the Department of Agriculture, "United States Estimates
of Monthly
Cash Farm Income and Index Numbers of Income, January 1935 to September 1912."
2
Monthly indexes adjusted for seasonal variation. Indexes shown as "monthly averages" were computed by the Bureau of Foreign and Domestic Commerce from annual
dollar totals compiled by the Department of Agriculture; they may differ from averages of the seasonally adjusted indexes because of the method of seasonal correction used.
S-l
SURVEY OF CURRENT BUSINESS
May 1943
Monthly Business Statistics
The data here are a continuation of the statistics published in the 1942 Supplement to the SURVEY OF CURRENT BUSINESS.
That volume contains monthly data for the years 1938 to 1941, and monthly averages for earlier years back to 1913 insofar as
available; it also provides a description of each series and references to sources of monthly figures prior to 1938. Series added or
revised since publication of the 1942 Supplement are indicated by an asterisk (*) and a dagger (f), respectively, the accompanying
footnote indicating where historical data and a descriptive note may be found. The terms "unadjusted" and "adjusted" used to
designate index numbers refer to adjustment of monthlyfiguresfor seasonal variation.
Data subsequent to March for selected series will be found in the Weekly Supplement to the Survey.
Monthly statistics through December 1941, to- 1943
gether with explanatory notes and references
to the sources of the data, may be found in the March
1942 Supplement to the Survey
1943
1943
March
April
May
June
July
August
September
October
Novem- December
ber
January
February
BUSINESS INDEXES
INCOME PAYMENTS!
Indexes, adjusted:
Total income payments
1935-39=100.
Salaries and wages
do...
Total nonagricultural income
do...
Total
mil. ofdol.
Salaries and wages:
Total §
do....
Commodity-producing industries-_do
Work-relief wages
do
Direct and other relief
do
Social-security benefits and other labor income
mil. ofdol..
Dividends and interest
do
Entrepreneurial income and net rents and
royalties
mil. of doL.
Total nonagricultural income
do
159.3
171.1
157.8
8,796
163.3
175.6
161.0
8,913
165.4
179.1
163.3
8,799
169.5
185.2
167.5
9,782
172.6
189.6
170.3
9,685
176.0
193.3
172.6
9,571
177.9
195.3
174.0
10,453
182. 8
201.4
178.3
10, 782
189.4
208.4
183.6
10, 593
193.7
213.1
186.8
11,524
' 196. 7
'217.8
' 190.6
10, 748
'201.0
221.6
' 193. 8
• 10,443
6,002
2,705
75
94
6,182
2,824
68
92
6,390
2,976
58
89
6,666
3,112
53
87
6,723
3,234
45
86
6,894
3,365
35
86
7,082
3,413
30
85
7,327
3,459
26
85
7,463
3,493
24
84
7, 635
3,514
23
84
' 7, 620
3,497
19
83
' 7, 754
' 3, 567
15
81
175
890
169
773
163
475
164
1,119
169
846
164
437
176
894
175
752
174
522
180
1,419
'195
'781
' 199
'442
1,635
8,062
1,697
8,112
1,682
8,004
1,746
8,906
1,861
8,677
1,990
8,440
2,216
9,088
2,443
2,350
9,141
2,206
10, 244
2,069
' 9, 637
r 1,967
' 9, 438
103
74
29
136
127
86
101
124
126
117
149
103
61
14
104
119
80
101
135
126
127
167
106
64
6
97
109
116
131
138
118
146
163
110
64
126
118
165
211
237
140
118
299
185
130
146
114
117
178
221
292
150
181
1,087
128
145
172
108
142
157
178
272
172
140
413
96
141
164
98
168
144
153
214
209
129
231
76
138
163
101
149
123
115
130
120
107
130
v 1, 395
v 1,303
982
901
v 196.0
v 260.0
v 273.0
v 251.0
v 189.0
v 271. 0
P319.5
135.5
175.0
166.5
181.0
153.0
196.0
194.0
v 205.1
v 224.7
p 196.0
* 11, 211
v 3, 630
2» 1 1
v 77
P209
P909
v 2,105
v 10, 069
FARM MARKETINGS AND INCOME
Farm marketings, volume:*
Indexes, unadjusted:
Total farm marketings
1935-39 = 100..
Crops, total
do
Cotton and cottonseed
do
Feed grains and hay
do
Fruits and nuts
do
Oil-bearing crops
do
Vegetables, incl. truck crops
do
Livestock and products, total
do
Meat animals
.
do
Dairy products
do..._
Poultry and products
do
Indexes, adjusted:
Total farm marketings
do
Crops
do
Livestock and products
do
Cash farm income, total, including Government payments*
mil. ofdol..
Income from marketings
do
Indexes of cash income from marketings: f
Crops and livestock, combined index:
Unadjusted
1935-39=100..
Ad justed
do
Crops
do...
Livestock and products
do
Dairy products
do
Meat animals
do
Poultry and eggs
do
102
102
62
124
145
134
151
154
138
97
118
183
132
119
138
144
138
154
53
174
96
388
168
126
125
125
129
122
114
129
124
102
140
129
121
134
127
117
134
132
130
134
130
128
132
141
152
133
141
144
139
1,063
982
1,030
993
1,112
1,070
1,249
1,219
1,435
1,412
1, 753
1,726
2,015
1,962
1,825
1,764
1,571
1,499
1,361
1,261
' 1, 205
'1,126
148.0
191.0
189.0
192.0
163.0
219.0
175.0
149.5
188.5
193.0
185.0
165.5
203.0
174.5
161.0
191.5
166.5
208.0
163.0
251.5
177.0
183.5
192.5
187.5
196.0
161.0
226.0
180.5
212.5
204.5
209.5
201.5
164.0
234.0
187.0
260.0
207.5
222.5
197.5
166.0
227.0
181.0
295.5
211.0
225.0
201.5
167.5
230.0
194.0
265.5
224.0
248.5
208.0
168.0
239.0
204.0
225.5
226.5
237.5
219.0
177.0
249.5
233.5
190.0
224.0
237.0
215.0
170.0
222.5
286.0
' 169. 5
' 239. 5
245.5
' 235.5
183.0
' 260.0
' 271.5
0)
0)
!
INDUSTRIAL, PRODUCTION
{Federal
Reserve)
Unadjusted:
Combined index
1935-39 = 100..
194
168
'197
175
177
172
187
'194
'193
195
180
'195
Manufactures
do
208
P213
211
183
185
196
181
177
207
'203
206
189
205
Durable manufactures
do....
287
234
P297
228
'292
246
283
240
'267
279
260
251
'276
Iron and steel
do
'204
'208
P210
200
203
200
198
197
199
199
200
196
207
Lumber and products
do
114
116
'107
135
138
138
125
132
129
135
135
140
Furniture
do
144
139
142
147
144
'139
143
136
136
137
141
'139
Lumber-..-do
99
91
'101
134
131
138
141
139
131
118
127
120
Machinery +
do
'352
'348
279
287
299
273
268
'329
' 340
289
'310
'320
Nonferrous metals
do _...
181
P192
'199
200
177
180
186
••191
197
202
188
193
192
Stone, clay, and glass products. _-do
P127
138
132
157
139
163
158
151
160
163
151
140
163
Cement
do.--.
112
139
178
183
195
186
161
141
126
156
186
200
202
Glass containers
do
187
185
171
184
159
166
167
190
171
151
167
176
176
38
Polished plate glass
do
39
39
39
35
37
37
43
43
40
38
32
30
'559
525
Transportation equipment
do
507
P583
372
330
'547
396
458
350
'572
'479
425
Automobile bodies, parts and assembly
1935-39=100-.
105
107
124
104
155
'151
112
129
146
116
135
140
Nondurable manufactures
do
P145
'145
137
136
144
138
137
143
'146
139
150
148
147
Alcoholic beverages
do
P107
113
113
90
120
116
110
94
133
103
140
140
123
Chemicals
do
P216
168
166
'209
166
'213
'206
166
167
170
'181
'192
'199
Leather and products
do
P116
'120
'122
114
124
116
114
115
131
129
112
117
115
Shoes
do
v 115
'118
130
'119
110
123
114
117
131
115
112
111
115
P134
Manufactured food products
do
*140
P135
P150
130
139
165
123
121
156
P181
P151
*156
P120
Dairy products %
do
P89
J-102
P88
P143
P91
193
210
207
192
124
152
»109
140
Meat packing
...do
171
186
134
131
140
149
132
147
166
147
138
146
1
Less than one-half of 1 percent.
p Preliminary.
' Revised.
§The total includes data for distributive and service industries and government which have been discontinued as separate series to avoid disclosure of military pay rolls.
^Scattered revisions in figures beginning January 1940 for dairy products, and in figures for the first half of 1941 for machinery are available on request.
*New series. For a description of the indexes of the volume of farm marketings and figures beginning 1929, see pp. 23-32 of the April 1943 Survey. Data beginning 1913
for the dollar figures on cash farm income are shown on p. 28 of this issue.
fRevised series. Data on income payments revised beginning January 1939, see p. 27, table 1, of the March 1943 Survey. The indexes of cash income from farm marketings have been completely revised; data beginning 1913 are shown on p. 28 of this issue.
S-2
SURVEY OF CURRENT BUSINESS
Monthly statistics through December 1941, to- 1943
gether with explanatory notes and references
to the sources of the data, may be found in the March
1942 Supplement to the Survey
May 1943
1942
March
April
May
June
July
1943
August
September
October
Novem- December
ber
January
February
BUSINESS INDEXES—Continued
INDUSTRIAL PRODUCTION—Con.
Unadjusted—Continued.
Manufactures—Continued.
Nondurable manufactures—Continued.
155
144
151
133
Paper and products
1935-39=100.
161
149
157
134
Paper and pulp
do-_.122
117
118
115
Petroleum and coal products
do
162
163
162
Coke
_._do
164
116
110
111
108
Petroleum refining
do
126
115
123
10.3
v 116
Printing and publishing
do
153
156
157
152
Textiles and products
do
vim
169
175
177
169
Cotton consumption
do
166
175
169
170
169
Rayon deliveries
do.
148
150
153
151
Wool textile production
do.
117
123
119
132
123
Tobacco products
do
118
131
'
126
132
v
125
Minerals!:
-do.
122
121
121
121
FuelsJ
do.
p 133
116
115
122
117
p 123
Anthracitet
do.
140
147
150
144
161
Bituminous coalj
do.
115
111
109
113
Crude petroleum
do
97
190
155
195
Metals
do]ust:^
174
172
176
173
P203
Combined index §
.
do.
183
180
184
182
P215
Manufactures§
do.
239
230
244
234
P29S
Durable manufactures!
do
130
134
132
131
v 123
Lumber and products§
do
124
128
127
127
v 112
Lumber
do
180
181
177
P192
Nonferrous metals
do
155
158
154
147
v 143
Stone, clay, and glass products§_.do
172
161
167
171
132
Cement§
do.
178
187
176
163
197
Glass containers
do_
138
139
139
136
p 148
Nondurable manufactures§
do
111
119
111
104
P114
Alcoholic beverages §
--do
167
161
165
172
P211
Chemicals
do.
126
124
130
121
p 113
Leather and products §
do.
124
122
130
120
P110
Shoes§
do.
134
136
136
138
p 152
Manufactured food products §
do
142
145
150
138
P142
Dairy products §
do—
140
144
142
153
154
Meat packing
do—
143
152
148
134
Paper and products§
do—
147
158
154
135
Paper and pulp§
do—
116
122
118
115
Petroleum and coal products§ d o —
109
116
111
108
Petroleum refining §
do..-.
112
121
117
104
p 112
Printing and publishing
do —
156
153
157
152
p 158
Textiles and products
do...
120
125
127
122
131
Tobacco products §
do—
126
126
125
127
v
134
Minerals§.
do—
157
153
152
159
p 140
Metals
do—
BUSINESS INVENTORIES, ORDERS,
|AND SHIPMENTS
Estimated value of business inventories:*
28, 450
29, 311
28, 887
29,178
Total
mil. of dol.
17,183
16, 464
16, 603
16, 939
Manufacturers
do7,496
7, 087
7,472
7. 565
Retailers
—-do—
4,632
4, SI 2
4,899
4,674
Wholesalers
...do—
Indexes of manufacturers' orders, shipments,
and inventories:
292
270
314
New orders, total
Jan. 1939=100.
274
449
432
545
427
Durable goods
do—
274
216
295
256
Iron and steel and their products..do.-570
54;
648
47'
Electrical machinery
_do —
578
669
442
467
Other machinery
do...
913
673
490
677
Other durable goods
—do
166
176
192
167
Nondurable goods
do
202
200
203
Shipments, total, .average month 1939=100.
199
256
239
254
235
Durable goods
do.
101
131
129
Automobiles and equipment
do.
131
211
207
216
Iron and steel and their products., do.__
21:
217
201
217
Nonferrous metals and products*...do._.
21:
249
259
27f
Electrical machinery..do—.
25'
306
279
297
Other machinery
do
27C
Transportation equipment (except
1,108
1,266
1,271
1,018
automobiles)
do
199
193
Other durable goods
do
187
18f
160
16!
1617:
Nondurable goods
do..
171
168
170
176
Chemicals and allied products
do._
164
164
16:
Food and kindred products
do..
139
154
17.
Paper and allied products
do..
136
13S
13C
Petroleum refining
do..
171
1
147
Rubber products
do..
21
186
189
206
Textile-mill products
__.do-_
147
17
156
180
Other nondurable goods...
do._
172.9
167.
170.
165.
Inventories, total
do._
193.2
186.
190.
183.
Durable goods
_.do._
202.
222.
217.
193.
Automobiles and equipment
do._
127.
132.3
130.
125.
Iron and steel and their products..do..
151.
152. 1
152.
147.
Nonferrous metals and products*...do..
264.
270.
277.8
255.
Electrical machinery
do. .
199.
202.
203.1
195.
Other machinery
do...
Transportation equipment (except auto
742.
756.
SO2.3
732.
mobiles)
average month 1939=100
133.
131.
135.
137.
Other durable goods
do
'Revised
p Preliminary.
^Scattered revisions in figures beginning January 1940 for minerals, and fuels, and beginning
anthracite, are available on request.
§Revisions have been made in seasonal adjustment allowances for recent periods; for total
^ ^
^
130
130
121
165
114
103
154
169
169
154
135
136
126
118
140
121
194
134
132
122
166
116
109
156
172
170
155
144
137
129
129
150
120
184
138
138
123
166
117
120
156
172
174
156
149
134
127
117
145
121
176
134
137
123
166
117
121
158
171
177
161
141
r
132
130
124
154
121
143
129
131
119
166
112
114
156
163
178
163
137
120
126
105
143
121
83
178
188
249
133
130
188
140
169
145
138
122
174
116
115
143
143
146
125
125
118
111
106
154
126
126
155
193
258
129
125
191
145
177
153
140
135
173
113
110
143
143
153
131
132
121
114
111
154
130
130
152
187
••197
'265
125
119
193
152
182
163
142
139
' 179
111
108
P148
P140
159
132
133
122
116
109
156
133
131
145
191
r203
'275
129
123
192
152
184
162
144
126
' 187
117
115
p 146
v 139
145
135
137
123
117
116
156
141
129
139
'195
207
279
128
122
197
153
180
169
r 148
122
'197
r 117
116
v 152
p 136
147
135
137
123
117
118
158
136
130
133
29. 231
17,317
7,439
4,475
29, 094
17, 392
7,357
4,345
29, 034
17, 439
7, 350
4,245
28,851
17, 547
7, 275
4,029
256
399
254
699
411
504
163
207
264
172
210
220
267
311
233
334
222
491
421
377
167
212
270
184
215
212
268
312
264
390
250
411
358
636
183
224
283
194
216
228
286
322
122
121
117
163
110
96
154
166
168
160
131
'131
121
122
141
112
192
1, 362
191
163
109
171
126
142
183
187
146
174.2
195. 8
226.1
133.9
153.3
290. 3
204.8
1,466
187
167
171
178
131
135
179
191
154
175. 0
198.0
229.9
134.3
156. ,c
299.9
204.6
1,579
200
177
187
187
136
140
205
197
165
175.4
200.9
241. 4
134.1
156.5
307.
207.
824.8
128.6
852. 8
126.
890.
124.
'132
' 135
116
166
109
111
157
171
180
' 154
132
117
124
102
145
118
73
137
140
120
'169
113
' 114
' 160
171
'181
166
122
123
131
129
157
121
'76
197
'210
285
127
119
202
148
165
171
'149
111
'205
'117
116
P 158
p 140
158
132
133
119
112
114
156
160
128
137
199
212
291
124
116
200
163
169
208
149
105
'210
' 122
' 122
P157
J>141
145
133
135
117
109
113
157
140
126
138
'202
215
'295
'129
' 121
' 199
155
156
199
' 150
123
'213
'117
' 117
P155
28, 838
17, 682
7,200
3,956
28, 344
17,652
6,700
28,067
17, 676
6,400
3,991
27, 694
17.440
p 6, 200
4. 026
266
387
223
413
387
643
188
228
289
207
212
236
317
333
279
415
264
586
381
619
192
255
361
233
353
361
574
18'
247
364
258
346
315
587
172
'275
'405
' 315
'437
'315
'617
191
232
300
223
214
246
351
337
240
320
240
239
262
408
351
226
298
231
205
230
369
322
'255
337
'250
'225
262
'446
' 364
1, 578
197
181
182
190
146
138
207
203
173
1,692
191
179
183
185
143
154
214
202
171
1,775
181
178
185
184
144
139
222
204
16i
1,797
179
169
193
178
138
135
241
191
140
176.5
204.1
243.3
135.7
152.6
320. 6
210.4
177.9
207.7
244.1
137.4
152.3
326.1
213.0
177.'
210.
232.'
139.
151. S
324.
219.
177.8
211.3
233.8
135.2
157.3
327.0
221.9
' 2,100
'397
'192
'210
'200
' 152
'139
280
'216
' 170
' 175. 5
' 209. 6
' 237. 3
' 131.9
150.1
'331.6
' 223. 4
924.2
123.3
975.0
123.6
1, 062.
119.7
1,051.0
117.0
153
135
137
120
113
'113
' 160
131
132
140
February 1939 for bituminous coal, and infiguresfor the first half of 1941 for
.
, , , , - , , ,
industrial production, total manufactures, durable, and nondurable manu-
^ ^ ^ beginning December 1938 for the estimates of business inventories, see p. 7, table 2, of the June 1942 Survey.
tories of nonferrous metals and their products were formerly included in other durable goods.
1, 020.
122.
P142
Data for shipments and inven-
S-3
SURVEY OF CURRENT BUSINESS
May 1943
Monthly statistics through December 1941, to- 1943
gether with explanatory notes and references
to the sources of the data,may be found in the March
1942 Supplement to the Survey
1942
March
April
May
June
July
1943
August
September
October
Novem- December
ber
January
February
BUSINESS INDEXES—Continued
BUSINESS INVENTORIES, ETC.-Con.
Indexes of manufacturers' orders, shipments,
and inventories—Continued.
Inventories—Continued.
Nondurable goods, avg. month 1939=100..Chemicals and allied products
do
Food and kindred products
do
Paper and allied products
do
Petroleum refining
do
Rubber products
do
Textile-mill products
do
Other nondurable goods
do
150.1
155.6
156.8
140.0
115.0
155.4
156.2
155.6
149.9
157.7
157.9
141.1
114.5
154.3
155.8
152.8
153.1
159.9
160.0
145. 9
113.0
161.2
162.0
157.3
155.1
162.7
160. 3
149.7
111.5
165.4
165.1
160.7
155.3
163.3
159.8
152.7
110.3
170.2
165.0
161.3
154.8
164.4
159.2
154.6
111.2
174.8
159.5
161.3
153.1
161.0
158.0
154.6
109.6
173.5
156.2
160.8
152.4
156.5
161.2
149.8
109.3
172.7
155.1
159.1
151.8
155.1
160.1
146.5
107.2
174. 4
153.1
161.8
149.2
158.7
156.2
144.0
106.8
174.6
147.2
157.4
148.6
155.4
152.5
141. 4
107.0
172.3
147.0
161.8
r 145. 6
r 154. 7
r 147. 3
r 140.7
r 106.7
175.9
142.2
r 158.2
COMMODITY PKICES
COST OF LIVING
National Industrial Conference Board:
Combined index
1923=100.
Clothing
do _..
Food
do...
Fuel and light
do...
Housing
do-_Sun dries
do...
U. S. Department of Labor:J
Combined index
1935-39= 100.
Clothing
do...
Food
do__.
Fuel, electricity, and ice
do...
Housef urnishings
do. _ .
Rent
do...
Miscellaneous
...do...
102.8
88.6
112.9
92.6
90.8
106.8
96.1
85.8
97.5
90.4
90.7
103.5
97.1
88.4
98.8
90.1
91.0
104.1
97.3
88.6
99.1
90.5
91.1
104.2
97.3
88.1
99.5
90.4
91.0
104.1
97.8
88.0
100.3
90.4
90.8
105.0
98.1
88.2
101.1
90.4
90.8
105.0
98.6
88.4
102.8
90.5
90.8
104.7
99.7
88.5
105.4
90.5
90.8
105.4
100.3
88.6
106.5
90.5
90.8
106.2
101.0
88.6
108.3
90.6
90.8
106.4
101.4
88.6
109.1
91.7
90.8
106.6
101.8
88.6
110.2
92.2
90.8
106.7
114.3
123.6
118.6
104.5
121.2
108.9
110.1
115.1
126.5
119.6
104.3
121. 9
109.2
110.6
116.0
126.2
121.6
104.9
122.2
109.9
110.9
116.4
125.3
123.2
105.0
122.3
108.5
110.9
117.0
125.3
124.6
106.3
122.8
108.0
111.1
117.5
125.2
126.1
106.2
123.0
108.0
111.1
117.8
125.8
126.6
106. 2
123.6
108.0
111.4
119.0
125.9
129.6
106.2
123.6
108.0
111.8
119.8
125.9
131.1
106.2
123. 7
108.0
112.7
120.4
125.9
132.7
106.3
123.7
108 0
112.8
120.6
125.9
133.0
107.3
123.7
120.9
125.9
133. 6
107.1
123.9
113.1
113.5
146
130
151
144
111
122
180
136
132
150
131
158
142
118
120
190
158
136
152
134
159
143
131
120
189
152
138
151
137
153
141
148
116
191
169
134
154
145
155
144
131
115
193
200
139
163
156
151
151
126
115
200
256
173
163
166
156
156
129
119
195
191
172
169
173
158
165
134
117
200
226
185
169
178
160
171
127
117
197
238
181
178
183
162
175
151
124
196
293
211
182
185
164
177
139
134
205
277
217
178
170
163
179
156
138
214
301
158
88.9
96.7
87.5
f
5.9
88.9
96.1
88.8
96.6
96.8
96.9
88.8
97.0
88.9
97.0
88.9
97.1
88.9
97.2
93.4
97.9
93.5
98.4
PRICES RECEIVED BY FARMERS §
U. S. Department of Agriculture:
Combined index
1909-14= 100._
Chickens and eggs
do
Cotton and cottonseed
do
Dairy products
do
Fruits
do
Grains
do
Meat animals
do
Truck crops
do
M iscellan eous
do
RETAIL PRICES
U. S. Department of Labor indexes:
Anthracite
1923-25=100.
Bituminous coal
do
Food (see under cost of living above).
Fairchild's index:
Combined index
Dec. 31, 1930=100..
Apparel:
Infants'
do
Men's
do
Women's
do
Home furnishings
do
Piece goods
do
WHOLESALE PRICES
U. S. Department of Labor indexes:
Combined index (889 quotations). 1926=100..
Economic classes:
Manufactured products
do
Raw materials
do
Semimanufactured articles
do
Farm products
do
Grains
do
Livestock and poultry
do
Commodities other than farm products
1926=100..
Foods
do
Cereal products
do
Dairy products
do
Fruits and vegetables
do
Meats
do
Commodities other than farm products and
foods
._ 1926= 100._
Building materials
do
Brick and tile
do
Cement
do
Lumber
do
Paint and paint materials
do
Chemicals and allied products
do
Chemicals
do
Drugs and Pharmaceuticals
do
Fertilizer materials
do
Oils and fats
do
Fuel and lighting materials
do
Electricity
:
do
Gas
do
Petroleum products
do
182
171
166
180
172
143
218
302
163
113.2
112.5
113.4
113.2
113.1
113.1
113.1
113.1
113.1
113.1
113.1
113.1
113.1
108.1
105.3
112.7
115. 5
112.2
107.5
104.2
112.1
115. 1
111.8
108.6
105.6
313.2
115.8
112.6
108.3
105.2 i
113.0 I
115.7 i
112.2 !
108.0
105.1 ,
112.9
115.6
112.2 I
108.0
105.1
112.8
115.6
112.3
108.0
105.2
112.7
115. 5
112.3
108.0
105.2
112.7
115. 5
112.2
108.0
105.3
112.6
115.5
112.2
108.0
105.3
112.5
115.5
112.2
108.1
105. 3
112.6
115.5
112.2
108.1
105.3
112.6
115.5
112.2
108.1
105.3
112.6
115.5
112.2
v 103.4
97.6
p 100. 5
v 112.0
93.0
v 122. 8
112.2
135.7
97.8 i
P99.0
107.4
93.5
113.2
115.6
115. 5
5
110.4
98.7
94.2
134.6
102.2
100.0
96.4
165. 0
79.0
101.5
80.3
P96.
61.5
98.7
98.8 i
99.2
99.6
100.0 ; 100.3
101.0
101.9
v 102. 5
98.9
101.2
92.7
106. 1
89.8
122.6
99.2
102.2
92.9
107.8
93.6
122.1
99.4
103.0
92.7
109.0
91.5
123.4
99.4
103.9
92.6
110.5
92. 8
121.3
99.6
106. 1
92.5
113.8
100.7
123.9
100.1
108.2
92.8
117.0
107.3
129.2
r 100. 3
109.6
92.9
119.0
10S. 6
132.8
97.0 !
99.2
87.2
96.0
98.5
113.4
97.5
100.8
87.8
100.2
98.0
115.2
97.7
102.4
89.1
105.5
97.5
116.0
97.9
103.4
89.3
109.2
98.2
115.5
97.9
103. 5
89.5
111.2
102.0
112.0
98.1
104.3
89.3
111.8
104. 3
113.6
98.5
105. 2
90.6
113.4
102. 6
115.5
P98.
95.7
110.3
98.0
94.2
132.9
100.7
96.7
96.5
129.1
78.5
104.2
79.0
62.7
81.4
95.6
110.3
98.7
94.2
133.0
100.1
96.2
96.3
129.0
78.3
101.6
79.0
62.2
80.4
60.7
95.5
110.4
98.7
94.2
133.2
100.4
96.2
96.3
128.9
78.2
101.5
79.0
62.6
81.1
95.5
110.4
98.7
</4. 2
133.3
101.0
96.2
96.2
128.8
78.3
101.5
79.0
61.9
79.2
60.6
95.8
110.1
98.6
94.2
133.1
100.7
99.5
96.2
165. 4
78.6
101.5
79.1
62.3
78.4
60.7
95.9
110.0
98.7
94.2
133.3
100.3
99.5
96.1
165.4
79.0
101. 5
79.2
62 0
76.1
60.7
96.0
109.8
98.7
94.2
133.3
100.6
100.2
96.9
165.4
79.0
101.5
79.3
P96.
98.6
98.7
98.2
92.3
102.8
93.8
113.8
98.7
100.0
92.8
104.5
91.5
118.3
99.0
99.7
92.9
104.4
92.2
117.6
P8. 6
99.8
92.8
104.4
88.8
116.9
f8.6
100.1
92.8
105.3
89.1
117.8
96.2
96.1
90.6
94.3
87.7
109.2
97.2
98.7
90.2
94.1
97.7
112.8
97.4
98.9
89.0
93.5
96.7
114.8
97.1
99.3
87.2
92.0
105.4
113.9
95.2
110.5
97.1
93.6
133.1
100.8
97.1
96.4
126.5
79.5
108.8
77.7
65. 3
77.1
58.3
95.6
110.2
98.0
94.1
131.8
100.6
97. 1
96.4
126.7
79.2
108.8
77.7
64.4
78.1
58.4
95.7
110.1
98.0
94.2
131.5
100.6
97.3
96.5
129.1
79.0
108.6
78.0
63.8
79.9
59.1
95.6
110.1
98.1
94.2
131.7
100.3
97.2
96.5
129.1
78.4
108.5
78.4
63.3
81.2
59.8
!
i
i
!
!
|
73.2
60.8
7
105.8
92.2
113.3
108.5
115.5
2
110.2
98.6
94.2
134.6
101.2
100. 3
96.9
165. 5
79.0
101.5
79.8
75.8
61.2
r
p Preliminary.
Revised.
§ D a t a for Apr. 15, 1943: Total, 185; chickens a n d eggs, 173; cotton a n d cottonseed, 167; dairy products, 180; fruits, 189; grains, 146; meat animals, 218; truck crops, 291;
miscellaneous, 176.
J i n conformity with t h e practice of adjusting the cost-of-living index to take account of rationing and the'disappearance from the market of some goods formerly included,
certain substitutions and additions are being made in the items used beginning M a r c h 1943 and the weights revised. March figures, which have been delayed because of the
revisions, will be published in t h e Weekly Supplement. R e n t d a t a are now collected only at quarterly pricing periods; currently, between pricing periods, the latest rent
d a t a are carried forward as a constant in the combined index until the next pricing.
S-4
SUEVEY OF CUREENT BUSINESS
Monthly statistics through December 1941, together with explanatory notes and references
to the sources of the data, may be found in the
1942 Supplement to the Survey
1943
1943
March
May 1943
March
April
May
June
July
1943
August
September
October
Novem- December
ber
January
February
COMMODITY PRICES—Continued
WHOLESALE PRICES—Continued
U. S. Department of Labor indexes—Con.
Commodities other than farm products and
foods—Continued
Hides and leather products
1926=100.Hides and skins
do
Leather
do
Shoes
do
House-furnishing goods
do
Furnishings
do
Furniture
do
Metals and metal products
do-..Iron and steel
do
Metals, nonferrous
do
Plumbing and heating equipment__do—
Textile products
do
Clothing
do
Cotton goods___
do
Hosiery and underwear
do
Rayon
do
Woolen and worsted goods
do
Miscellaneous..
do
Automobile tires and tubes
do
Paper and pulp
do
Wholesale prices, actual. (See under respective
commodities.)
117.8
116.0
101.3
126.4
102.6
107.3
97.7
v 103.8
97.2
86.0
90.4
97.3
107.0
112.6
70.5
30.3
112.4
91.4
73.0
102.7
116.7
116.6
101.5
124.3
102.6
107.7
97.4
103.8
97.1
85.6
98.2
96.6
106.6
112.6
69.8
30.3
108.7
89,7
71.0
102.9
119.2
82.4
87.5
84.2
72.0
81.5
86.9
83.5
70.1
123.5
101.3
126.7
102.8
108.0
97.5
103.8
97.1
85.6
98.5
97.7
107.8
113.8
70.6
30.3
111.0
90.3
72.5
102.9
118.8
121.4
101.3
126.6
102.9
108.1
97.5
103.9
97.2
85.6
98.5
98.0
109.6
112.9
71.9
30.3
111.0
90.5
73.0
102.8
118.2
118.5
101.3
126.4
102.9
108.1
97.4
103.9
97.2
85.6
98.5
97.6
109.1
112.7
70.0
SO. 3
111.0
90.2
73.0
101.6
118.2
118.5
101.3
126.4
102.8
108.0
97.5
103.8
97.2
85.6
94.1
97.1
107.2
112.7
I18.I
118.0
101.3
126.4
102.5
107.4
97.4
103.8
97.2
86.0
94.1
97.1
107.0
112.7
111.0
89.8
73.0
100.5
118.2
118.8
101.3
126.4
102.7
107.9
97.4
103.8
..97.2
85.6
94.1
97.3
107.2
112.9
69.7
30.3
111.7
88.9
73.0
98.9
81.5
85.5
80.2
68.2
81.1
85.1
79.2
64.4
80.8
84.8
78.9
64.4
69.7
30.3
69.7
30.3
111.7
88.8
73.0
98.8
117.8
116.0
101.3
126.4
102. 5
107.3
117.8
116.0
101.3
126.4
102.5
117.8
107.3
107.3
116.0
101.3
126.4
102.5
86.0
94.1
97.1
107.0
112.4
70.5
30.3
111.7
88.6
73.0
97.4
103.8
97.2
86.0
93.2
97.1
107.0
112.4
70.5
30.3
111.7
90.1
73.0
97.4
103.8
97.2
86.0
90.4
97.2
107.0
112.4
70.5
30.3
[112.1
90.5
73.0
99.0
80.4
84.0
77.1
62 2
80.2
83.5
76.2
62.2
79.6
83.1
75.3
59.1
1,274
200
92
37
29
8
15
1,123
168
80
31
23
8
10
6
4
47
955
61
497
330
324
6
47
7
11
97.4
103.8
97.2
117.8
116.0
101.3
126.4
102.5
107.3
97.4
103.8
117.8
116.0
101.3
126.4
102.6
107.3
97.7
103.8
97.2
86.0
97.2
86.0
CO. 4
97.3
107.0
112.5
70.5
30.3
112.4
90.7
73.0
100.1
97.3
107.0
112.6
70.5
30.3
112.4
90.9
73.0
101.1
78.9
82.9
75.1
57.7
78.5
82.7
74.8
59.1
782
111
50
18
12
6
3
1
2
40
671
59
310
256
252
4
24
5
15
751
101
42
14
9
5
5
2
3
40
650
57
299
254
251
3
21
4
13
90.4
PURCHASING POWER OF THE
DOLLAR
As measured by—
Wholesale prices
Cost of living
Retail food prices
Prices received by farmers
1935-39=100...
do
do
.
do
77.8
57. 7
81.4
86.2
82.1
69.1
81.6
81.1
69.6
CONSTRUCTION AND REAL ESTATE
CONSTRUCTION ACTIVITY*
(Quarterly estimates)
New construction, total
mil. of dol__
Private, total
do
Residential (nonfarm)
do
Nonresidential building, total
do
Industrial
do
All other
do
Farm construction, total
do
Residential..
do
Nonresidential
do
Public utility
„ _do
Public construction, total
do
Residential
do
Military and naval
do
Nonresidential building, total
do
Industrial
do
Allother
do
Highway
do
Sewage disposal and water supply
do
All other Federal
do
Miscellaneous public-service enterprises
mil. of dol..
702
111
46
13
8
5
7
3
4
45
591
64
271
213
210
3
25
4
12
955
306
181
50
23
27
10
6
4
65
649
38
285
237
221
16
42
10
30
331
208
43
19
24
17
10
7
63
757
41
359
253
238
15
57
10
31
1,143
290
162
40
20
20
25
15
10
63
853
43
393
304
290
14
71
10
27
1,211
236
100
41
24
17
33
19
14
62
975
46
491
325
312
13
71
10
27
1,403
221
92
41
28
13
27
15
12
61
1,182
48
649
370
359
11
75
10
25
1,486
221
98
41
30
11
22
13
9
60
1,265
56
681
417
1,415
215
95
41
31
10
19
12
7
60
1,200
71
626
403
395
8
65
9
22
56
1,074
66
523
389
382
7
62
9
22
128
65
22
16
761
63
358
286
282
4
30
5
17
2 I
CONTRACT AWARDS, PERMITS, AND
DWELLING UNITS PROVIDED
Value of contracts awarded (F. R. indexes):
232
192
194
174
181
175
Total, unadjusted
.....1923-25=100..
145
139
228
118
125
75
64
70
80
86
90
Residential, unadjusted
do...
83
66
'54
182
206
198
179
185
125
128
193
175
145
Total, adjusted
do...
158
* 102
65
90
82
74
70
83
91
76
95
79
Residential, adjusted
do_..
'56
Contract awards, 37 States (F. W. Dodge
Corporation):
55,843
33,167 40, 557 51,863 33,100 30,055 30,558 35, 934 35,872 38, 797 25, 338 18, 503
Total projects.
number.. 16,117
Total valuation
thous. of dol_. 339,698 610, 799 498, 742 673, 517 1,190,264 943, 796 721,028 723,216 780, 396 654,184 708, 716 350,661 393,517
304,032 472,817 354, 575
1,105,414 875,951 633,183 660,953 709,879 591, 940 663,817 315,575 363,852
Public ownership
do_
62,263 70, 517 62, 244 44,899 35, 086 29, 665
35,666 137,982 144,167 104, 529 84,850 67,845 87,895
Private ownership
do
Nonresidential buildings:
8,332
14, 372 11,093
10,952 10,405
12,281
3,635
5,982
9,945
6,842
5,208
15, 093
5,090
Projects..
number..
28,310 42,456 51,281 67, 961 134,085 113,134 90, 774 97,962 77, 245 52,615 67,327 27,913
37,810
Floor area
thous. of sq. ft
Valuation
thous. of dol. 144, 935 231,834 234, 939 297, 885 568, 385 489,066 407, 324 466, 860 372, 991 256,513 278, 091 154,064 187, 242
Residential buildings:
26, 683 28,024 33,002 18,924 17,110 18, 556 22, 218 21,826 21, 302 17,428
12,155
Projects
number.. 10,295 47,731
Floor area
thous. ofsq. ft.. 16,990 50,770 38, 341 38,147 50,673 33, 634 26,177 29,759 37,444 37,707 38,112 24,920
22,188
71, 786 219, 276 162,097 147, 964 185,471 127, 382 100, 551 126, 708 161, 206 156, 654 159, 652 110,813
Valuation
. . thous. of dol
93,294
Public works:
1,384
1,080
1,960
1,111
3,035
682
1,635
945
1,725
3,480
2,739
1,386
761
Projects
number_.
Valuation
-thous. of dol. 62,037 92,148 58,477 127,107 203,341 129,611 111,960 65,811 154,795 94,157 142,157 38,254
52,856
Utilities:
552
721
1,123
609
736
685
331
1,750
486
1,016
386
497
405
Projects
number.
60,125
Valuation
thous. of dol. 60,940 67,541 43,229 100, 561 233,067 197,737 101,193 63,837 91,404 146,860 128, 816 47, 530
r
v
Revised.
Preliminary.
*New series. The series on new construction are estimated by the U. S. Department of Commerce, Bureau of Foreign and Domestic Commerce, with the exception
of the series on residential (nonfarm) construction which is from the U. S. Department of Labor and the data for military and naval and public industrial construction since
January 1941, which are from the War Production Board. For data beginning 1939 see pp. 10, table 7, of this issue and for additional data relating to the derivation of the
estimates, pp. 24-26 of the May 1942 issue.
S-5
SURVEY OF CURRENT BUSINESS
May 1943
Monthly statistics through December 1941, to- 1943
gether with explanatory notes and references
to the sources of the data, may be found in the March
1942 Supplement to the Survey
1943
March
April
May
June
July
1943
August
September
October
Novem- December
ber
January
February
CONSTRUCTION AND REAL. ESTATE—Continued
C O N T R A C T AWARDS, P E R M I T S , AND
DWELLING UNITS PROVIDED-Con.
Indexes of building construction (based on
bldg. permits issued, U. S. Dept. of
Labor):|
Number of new dwelling units provided
1935-39= 100..
89.6
Permit valuation:
Total building construction
do
45.3
New residential buildings
do
65.2
New nonresidential buildings
do
27.4
47.1
Additions, alterations, and repairs_do
Estimated number of new dwelling units in
nonfarm areas (U. S. Dept. of Labor):
Total nonfarm (quarterly) *
number
114, 700
Urban, to tal
do
15, 538
1-family dwellings
..do
11,881
2-family dwellings
do
1,104
Multifamily dwellings
do
2,553
Engineering construction:
Contract awards (E. N . R.)§._-thous. of doL. 305, 973
HIGHWAY
181.8
142.4
102.9
160.8
163.8
180.0
104.7
70.8
83.6
72.2
53.5
64.5
48.7
41.3
24,692
16,492
877
7,323
17,679
13, 582
588
3,509
138, 300
31, 948
25, 550
2, 311
4,087
33, 358
25,014
2,970
5,374
26, 356
23,372
1,183
1,801
167, 500
22, 069
13,961
1,104
7,004
17, 027
10,281
1,314
5,432
17,048
12, 253
771
4,024
729, 485 898,696 1,044,572 968,938 1,201,526 813,077
87,900
22, Q67
11,694
1,150
9,223
21,772
16,448
1,133
4,191
14, 522
10,671
926
2,925
712, 709 691,979
607, 622
85, 800
13,157
9,761
1,058
2,338
373, 622 226, 826 306, 242
CONSTRUCTION
Concrete pavement contract awards:
Total
thous. sq. yd-_
7,242
Airports
do
5,466
Roads
do
927
Streets and alleys
do
850
Status of highway and grade crossing projects
administered by Public Roads A d m n . i
Highways:
Approved for construction:
Mileage
no. of miles.1,401
Federal funds
thous. of doL_ 26, 655
Under construction:
Mileage
no. of miles..
2,176
Federal funds
thous. of doL- 67, 716
Estimated cost
do
109, 824
Grade crossings:
Approved for construction:
Federal funds
do
6,300
Estimated cost
do
6,963
Under construction:
Federal funds
do
15, 307
Estimated cost
do
15, 947
7,091
3,972
1,727
1,392
8,914
5,416
2,061
1,437
14, 462
3,267
1,394
15, 266
11,038
2,060
2,167
14, 947
11, 366
1,927
1,655
13, 947
10,091
2,653
1,202
20,090
16,935
1,518
1,637
12,453
7,600
2,806
2,047
8,671
5,821
1,406
1,444
7,734
5,074
1,488
1,171
6,237
5,065
541
631
6,872
5,644
649
579
1,562
24,612
1,431
24,055
1,455
27,968
1,654
32,808
1,718
36,170
1,606
37,059
1,534
35, 534
1,524
34, 968
1,531
33,435
1,404
29, 634
1,369
29,042
1,352
27,808
6,672
6,817
6,071
5,483
6,778
123,405 127,195 127, 511 122,402 114,997
226, 543 231, 620 228, 535 217, 290 200,868
7,490
8,210
7,806
8,503
8,201
8,893
7,108
7,843
6,696
7,358
34, 576
36, 913
34,467
36,814
33,658
35,838
33,413
35, 409
31, 299
33, 279
4,262
3,329
2,955
2,807
3,714
2,359
4,954
109, 549 102,419 98, 230 91,839 88,028 85, 097 73, 657
189,077 174, 898 165, 052 153, 221 143, 983 139,497 120,810
6,665
7,327
29,412
31, 296
5,852
6,512
5,904
6,564
24,608
26, 387
23,190
24,835
246
249
251
229
242
246
249
251
229
242
247
250
251
229
242
6,797
7,458
26,417
28, 231
6,776
7,439
6,854
7,516
21, 201
22, 797
17, 905
18,800
248
250
251
230
242
249
253
251
230
242
249
253
251
230
242
6,821
7,484
22, 242
23, 853
C O N S T R U C T I O N COST I N D E X E S
Aberthaw (industrial building)
1914=100
American Appraisal Co.:
Average, 30 cities
1913=100
Atlanta
do
New York
do
San Francisco
do
St. Louis
do
Associated General Contractors (all types)
1913=100.E . H . Boeckh and Associates, Inc.:
Apartments, hotels, and office buildings:
Brick and concrete:
Atlanta
U. S. av., 1926-29= 100..
New York
do
San Francisco
do
St. Louis
do
Commercial and factory buildings:
Brick and concrete:
Atlanta
do
New York
do
San Francisco
do
St. Louis
do
Brick and steel:
Atlanta
do
New York
do
San Francisco
do
St. Louis
do
Residences:
Brick:
Atlanta
do
New York
do
San Francisco
do
St. Louis
do
Frame:
Atlanta
do
New York
do
San Francisco
do
St. Louis
do
Engineering News Record (all types)
1913=100.Federal Home Loan Bank Administration:
Standard 6-room frame house:
Combined index
1935-39=100-.
Materials
do
Labor
do
225
225
227
218
249
254
251
232
242
237
232
247
221
236
238
232
248
221
237
241
233
250
224
238
242
242
250
228
244
245
250
229
240
214.1
206.5
507.3
207. 3
207.8
209.9
213.3
213. 3
213.5
213.5
213.5
213.7
214.1
107.3
140.0
132.3
130.7
101.9
137.5
125. 6
124. 4
105.4
137.7
125.7
124.4
105.6
138.2
126.6
124.8
105.6
138.2
126.6
129.6
106.1
138. 2
130.0
129.6
106.1
138.2
130.0
129.6
106.1
138.2
130.0
129.6
106.1
138.5
131. 3
129.6
107.0
139.8
132.0
130.6
107.2
139.8
132.0
130.6
107.3
140.0
132. 3
130.7
107.3
140.0
132.3
130.7
107.0
141.2
135.6
133.5
103.2
138.8
126.6
124.9
105. 7
139.0
126.7
124.9
106.0
139.8
127.2
125. 3
106.0
139. 6
127.2
132.6
106.0
139.6
132.3
132.6
106.0
139.6
132.3
132.6
106.0
139.6
132.3
132.6
106.0
140.0
134.6
132.6
106.7
141.0
134.4
133.4
106.9
141.0
134.4
133. 4
107.0
141.2
135.6
133.5
107.0
141.2
135.6
133.5
107.8
138.9
135.7
130.4
102.8
136.8
128. 5
124.7
106.4
137.1
128.6
124.8
106.5
137.4
130.4
125.3
106.5
137.4
130.4
129.4
106.5
137.4
133.1
129.4
106.5
137.4
133.1
129.4
106.5
137.4
133.1
129.4
106.5
137.5
134.5
129.4
107.2
138.5
135.3
130.2
107.6
138.5
135.3
130.2
107.8
138.9
135.7
130.4
107.8
138.9
135.7
130.4
107.4
142.3
129.6
127.4
100.3
138.3
121.9
122.5
103.7
139.3
122.3
122.8
103.8
139. 7
124.8
123.5
103.8
139.7
124.8
126.9
104.1
139.7
125.8
126.9
104.1
139. 7
125.8
126.9
104.1
139. 7
125.8
126.9
104.1
139.9
126.8
126.9
105.3
140.9
127.6
126.7
106.7
140.9
127.6
126.7
107.4
142.3
129.6
127.4
107.4
142.3
129.6
127.4
107.7
144.3
125. 6
126.5
98.8
139.8
118.9
122.1
103.2
141.1
119.5
122.5
103.3
141.4
120.2
122.9
103.3
141.4
120 2
124.8
103. 6
141.4
122.0
124.8
103.6
141.4
122.0
124.8
103.6
141.4
122.0
124.8
103.6
141.5
122.5
124.8
105.0
142.5
123.3
125.6
106.8
142.5
123.3
125.6
107.7
144.3
125.6
126.5
107.7
144.3
125.6
126.5
271. 8
272.3
274.2
277.7
281.6
281.6
282. 4
283.6
283.7
283.5
283.5
285.2
223
245
248
250 I
229
241
124.4
124.7
124.5
125.9
124.4
124.5
124.0
122.3
122.8
123.5
123.7
121.5
121.4
121.5
121.5
121.5
121.6
121. 2
121.0
121.3
120.5
121.2
130.7
132.5
130.2
130.9
130.2
129.4
130.2
126.4
127.8
125.9
128.5
§Data for April, July, October, and December 1942 are for 5 weeks; other months, 4 weeks.
IMany projects approved for construction and technically under construction are inactive because of suspensions.
*New series. For earlier quarterly estimates of total nonfarm dwelling units, see note marked "*" on p. S-4 of the November 1942 Survey; this series includes data for
urban dwelling units shown above by months and data for rural nonfarm dwelling units which are compiled only quarterly.
t Data have been revised beginning January 1940 and further revisions of the indexes for 1942 are in progress. Revisions for the latter year are at present available only
for January-March; January and February 1942 data are as follows: Number of dwelling units provided—Jan., 123.1; Feb., 209.2; permit valuation of total building construction—Jan., 112.6; Feb., 191.0; new residential buildings—Jan., 108.5; Feb., 192.3; new nonresidential—Jan., 125.1; Feb., 232.9; additions, alterations, and repairs—Jan., 89.9;
Feb., 80.7.
126.1
122.0
133.2
122.0
120.0
126.0
S-6
SURVEY OF CURRENT BUSINESS
Monthly statistics through December 1941, together with explanatory notes and references
to the sources of the data, may be found in the
1942 Supplement to the Survey
May 1943
1942
April i May
June
July
1943
August
September
October
Novem- December
ber
Janu- J February
ary
CONSTRUCTION AND REAL ESTATE—Continued
REAL ESTATE
Fed. Hous. Admn. home mortgage insurance:
Gross mortgages accepted for insurance
thous. of doL_ 70,941 141,443
Premium-paying mortgages (cumulative)
thous. of doL_ 4,746,755 3,849,549
Estimated total nonfarm mortgages recorded
($20,000 and under)*
thous. of doL. 269,419 335,636
Estimated new mortgage loans by all savings
and loan associations, total-.thous. of doL. 87,185
87,367
Classifled according to purpose:
Mortgage loans on homes:
8,572 21,775
Construction
do
55,235
40,930
Home purchase
do
14,874
13,225
Refinancing
do
3,547
Repairs and reconditioning
do
2,377
Loans for all other purposes
do
6,127
7,890
Classified according to type of association:
36,325
Federal.-.
thous. of dol.. 37,850
38,595
38,030
State members
do
10,740
13,012
Nonmembers
do
Loans outstanding of agencies under the Federal Home Loan Bank Administration:
Federal Savings and Loan Ass'ns., estimated
mortgages outstanding}
thous. of doL. 1,839,302 1,832,341
Fed. Home Loan Bks., outstanding advances
to member institutions
thous. of doL_ 78,607 191,505
Home Owners' Loan Corporation, balance of
loans outstanding
thous. of dol.- 1,507,362 1,724,229
Foreclosures, nonfarm :f
17.6 29.2
Index, adjusted
1935-39=100.... 1
Fire losses
thous. of dol__ 39, 214 30, 505
69, 225
53,488
98,800
109,350
109,660
100,456
99,833
73, 768
54,086 i 45,562
53,725
3,916,421 3,990,152 4,071,838 4,155,187 4,232,030 4,311,126 4,393,862 4,473,021 4,554,952 4,626,857 4,684,367
353, 511 336,850
359,968
350,187
342,250
345,964
357,083
278,321
265,406
228,283
219,882
99,047
95,009
94,095
95,797
92, 563
94,055
91, 672
73,979
70, 628
57,856
63, 324
20,488
52,196
14,508
4,083
7,772
17, 610
53,095
13,607
3,866
6,831
15,930
52,112
15,184
3,566
7,303
17,709
52,190
16,097
3,671
6,130
12, 568
55,301
14,019
4,126
6,549
12,449
58,060
14,063
3,804
5,679
10,572
56, 528
14, 694
3,498
6,380
9,275
43,984
12,472
3,007
5,241
8,472
41, 440
12,768
2,199
5,749
7,173
32,820
11, 408
1, 667
4,788
4,594
39,084
12,510
1,953
5,183
38,484
43,937
16, 626
36,966
43, 005
15,038
35, 279
44,265
14, 551
37,007
43,665
15,125
36, 620
41, 549
14,394
37,987
42, 249
13,819
35,555
41,937
14,180
28,163
35,441
10, 375
27,381
32, 751
10,496
23,390
26,910
7,556
26,566
28,175
8,583
1,842,422 1,846,790 1,849,400 1,852,972 1,856,269 1,861,062 1,862,593 1,862,796 1,853,868 1,843,714 1,839,245
185, 298
181,165
192, 645 173,593
160, 201
144, 752
131,377
121,886
129,213
113, 399
95,624
1,709,064 1,692,197 1,675,888 1,657,256 1,640,119 1,622,087 1,603,106 1,586,709 1,567,367 1,547,994 1,528,815
27.9
29.3 i 27.3 j 28.0
27,960 ! 23,233 '• 22,410 21,000
24.3
19,680
25.2
20, 443
24.4
22, 621
23.4
24,144
21.9
36,469
21.0
27,733
18.8
33,175
96.8
82.7
101.3
87.6
77.5
118.6
146.1
97.1
84.7
64.8
79.8
77.3
77.1
123.1
159.6
103.0
88.8
64.9
83.1
81.9
77.0
120.0
144.9
103.4
DOMESTIC TRADE
ADVERTISING
Advertising indexes, adjusted:
Printers' Ink, combined index-.1928-32=100-.
Farm papers
do
Magazines
do
Newspapers
do
Outdoor
do
Tide, combined index*
1935-39=100_.
Magazines*
do
Newspapers*
do
Radio advertising:
Cost of facilities, total
thous. of dol..
Automobiles and accessories
do
Clothing
do
Electrical household equipment
do
Financial
do
Foods, food beverages, confections
do
Gasoline and oil
do
House furnishings, etc
do
Soap, cleansers, etc
do
Smoking materials
do
Toilet goods, medical supplies
do
All other
do
Magazine advertising:
Cost, total
do
Automobiles and accessories
do
Clothing
do
Electric household equipment
do
Financial
do
Foods, food beverages, confections
do
Gasoline and oil
do
House furnishings, etc
do
Soap, cleansers, etc
do
Office furnishings and supplies
do
Smoking materials
do
Toilet gcods, medical supplies
do
Allother
do
Linage, total
thous. of lines--)
Newspaper advertising:
Linage, total (52 cities)
do_
Classified..
do.
Display, total
do Automotive
do _
Financial
do_
General
do..
Retail
do-
GOODS IN WAREHOUSES
87.0
60.5
78.7
80.8
85.0
112.4
125.1
97.3
80.4
47.5
69.4
74.8
94.2
108.5
110.9
91.9
79.1
52.6
67.9
74.7
77.7
109.2
100.9
92.8
78.0
53.8
67.9
72.8
78.0
107.9
98.9
88.2
80.9
51.7
77.6
74.2
69.2
112.2
104.6
91.2
88.0
61.9
90.3
79.0
75.9
123.4
126.5
100.5
88.2
63.2
84.2
81.3
72.5
122.6
134.9
101.2
87.6
69.4
81.5
79.4
86.9
122.5
140.0
96.5
84.2
69.8
82.0
77.9
65.6
113.3
127.9
95.8
88.4
73.9
91.7
82.1
55.6
117.1
134.4
100.1
11, 953
479
97
55
72
3,130
638
48
1,040
1,655
3,494
1,246
10, 282
176
83
56
54
3,112
470
67
1,125
1,298
3,122
551
9,372
152
115
45
44
2,785
380
52
1,058
1,293
2,843
605
9,199
138
108
56
52
2, 543
431
52
1,005
1,316
2,856
643
8,989
265
62
45
41
2,473
367
42
1,050
1,299
2,792
553
8,500
367
55
45
41
2,162
349
42
1,013
1,329
2,571
527
8,186
448
45
57
53
2,051
342
51
928
1, 252
2,337
623
8,878
429
70
47
49
2,336
346
43
929
1,347
2,659
622
10, 332
339
94
53
49
3,027
480
56
853
1,485
3,081
815
10,716
362
115
67
57
3,027
532
54
799
1,497
3,136
1,069
11, 284 r 11, 171
347
361
61
125
67
54
76
60
2,919
3,180
646
609
60
49
810
904
1,604
1,606
3,412
3,275
1,169
1,061
17,443
950
1,188
351
392
2,721
336
599
b55
238
866
3,115
6,034
2,608
15,811
481
1,242
237
390
2,941
277
798
763
242
790
2,922
4,728
2,331
14,848
710
905
244
402
2,466
385
815
593
205
736
2,771
4,615
2.168
15, 421
772
968
161
403
2, 352
542
851
640
257
809
2,883
4, 783
2,064
13,932
796
735
213
304
2,043
392
536
477
171
732
2,928
4,604
1,769
11,109
631
250
213
257
1,738
306
208
320
170
609
2,406
4,001
1,700
12,415
765
724
126
280
1,785
405
266
378
193
671
2,268
4, 554
2,072
15,394
754
1,208
232
425
2,307
422
624
350
275
741
2,463
5,593
2,344
18,189
1,143
1,381
443
441
2,947
415
882
445
298
831
2,865
6,099
2,528
19, 450
979
1,144
522
466
3,377
367
757
479
322
983
3,075
6,979
2,650
16,940 r 12,629 r 15, 798
720
607
651
725
870
381
382
401
199
350
336
340
2,772
2,608
2,083
271
187
146
343
735
313
569
270
318
207
328
166
733
781
743
2.940
2,682
2,166
7,134 '5,124 ' 5, 785
2,432
2,033
2,179
113,190 106,908 107, 055 107,044
26, 925 21, 975 21, 649 22, 326
85, 406 84,718
86, 265 84,932
1,938
2, 334
2,416
2,500
1,849
1,595
1, 248
1,704
20, 262 16, 268 17, 821 16.529
64,878
64,608
63,464
61,908
97,663
20, 608
77, 055
2,541
1,370
14, 841
58,303
89,411
20.085
69,326
2,316
1,616
13,987
51, 407
94,963 104, 506 117,442 119.063 120,332
22, 996 21, 756
21, 931 22, 658 24,071
98, 575
73,032
81,847
93, 371 96,067
2,787
2,581
2,146
2,481
2,404
1,470
1,467
1,022
1,099
1,233
13,195
15, 572 19, 781 21, 775 19,147
70, 035 75,381
56,669
62, 695 69,953
94,488
22, 285
72, 204
1,513
1,887
14,674
54,130
10,347
348
60
57
62
' 2,785
572
48
'836
1,475
3,080
1,024
95,607
22, 235
73,372
1,423
1,232
17, 836
52, 881
|
j
Space occupied in public-merchandise ware- j
85.4
84.1
83.2
85.2
83.3
82.5
83.6
83.4
81.0
82.1
85.0
84.5
houses §
percent of total-J
r
Revised.
tMinor revisions in the data beginning January 1939; revisions not shown in the September 1942 Survey are available on request.
§See note marked " § " on p. S-6 of the April 1943 Survey with regard to enlargement of the reporting sample in August 1942.
*New series. The series on nonfarm mortgages recorded is compiled by the Federal Home Loan Bank Administration; for information regarding the basis of the estimates
and data for January 1939 to September 1942 see note marked "*" on p. S-5 of the November 1942 Survey. The new indexes of advertising are compiled by J. K. Lasser & Co.
for "Tide" magazine; the combined index includes radio (network only prior to July 1941 and network and national spot 'advertising beginning with that month), farm papers,
and outdoor advertising, for which separate indexes are computed by the compiling agency, in addition to magazine and newspaper advertising shown above; data beginning
1935 will be published in a subsequent issue.
•jThe index of nonfarm foreclosures has been revised for 1940 and 1941 as follows: 1940—Jan., 52.7; Feb., 49.3; Mar., 48.5; Apr., 48.5; May, 50.7; June, 49.0; July, 48.7; Aug.,
48.8; Sept., 47.5; Oct., 49.7; Nov., 44.9; Dec, 42.8; monthly average, 48.4. 1941—Jan., 44.2; Feb., 42.9; Mar., 42.9; Apr., 41.7; May, 38.7; June, 36.7; July, 38.0; Aug., 34.1; Sept.,
34.0; Oct., 34.0; Nov., 32.5; Dec, 32.4; monthly average, 37.6.
S-7
SURVEY OF CURRENT BUSINESS
May 1943
Monthly statistics through December 1941, to- 1943
gether with explanatory notes and references
to the sources of the data, may be found in the
March
1942 Supplement to the Survey
1943
1942
March
April
May
June
July
August
September
October
Novem- December
ber
January
February
DOMESTIC TRADE—Continued
1
POSTAL BUSINESS
Air mail, pound-mile performance
mil!ions._
Money orders:
Domestic, issued (50 cities):
9,527
Number
thousands..
178, 211
Value
thous. of dol
Domestic, paid (50 cities):
Number
thousands. _ 21, 350
Value
thous. of dol— 338, 616
3,019
2,996
3,156
3,130
3,443
3,661
3,870
4,335
4,338
6,997
87, 793
5,673
59, 746
5, 411
59, 542
6.312
73. 783
5,573
65, 221
5,495
68. 098
5,952
78, 701
6,022
78, 748
7,748
75, 475
8,201
90, 554
19, 134 17, 093 15, 256 16,865
16, 071 14. 582 16, 308 17, 386 15, 649 18, 376
210, 702 164, 302 137, 629 162, 616 152, 047 142, 851 174, 772 180, 535 162, 162 196, 067
7,632
86, 624
5,983
92, 987
16, 681 15, 209
176, 866 171, 967
CONSUMER EXPENDITURES
Expenditures for goods and services:*
Total
mil. of dol—
4, 870
Goods
do
Services (including gifts)
do
Indexes:
Unadjusted, total
1935-39=100__
p 155. 0
Goods
do
Services (including gifts)
do
Adjusted, total
do
Goods
do
Vl65.~3"
Services (including gifts)
do
6,505
4,255
2.251
6,622
4.339
2,282
6.607
4,315
2,291
6,573
4, 277
2,296
6,526
4,224
2,301
6,753
4,442
2,312
7,028
4,698
2,330
7,520
5, 179
2,340
7. 195
4,820
2,375
8.325
5, 951
2,374
' 6, 779 6,802
' 4, 377 - 4, 436
' 2, 402
2,367
' 134. 2
139.0
' 126. 0
138.3
145.3
' 126. 4
137.8
143.1
128.7
138.0
143.9
128.0
137.8
143.4
128.3
138.5
143.9
129.4
136.8
141.2
129.4
137.6
142. 1
129.9
133.6
136.4
128.9
141.6
148.3
130.1
138.8
144.3
129.5
145.7
154.0
131.6
147.9
157.6
131.3
144.2
151.6
131.6
151.7
163.8
131.1
147.6
157. 4
130.9
154. 4
166.5
133.9
151.0
160.8
134.2
170.7
192.9
132.9
144.7
' 152.1
132.2
' 140. 9
149.7
' 144. 6 ' 158. 0
' 134. 5 ' 135. 5
160.4
' 152.1
' 163. 4 ' 176. 3
133.3
' 132. 9
RETAIL TRADE
4,474
4,615
4,433
5,052
4,569
4,840 ' 5, 257 ' 4, 843 ' 5, 926 ' 4, 434 ' 4, 504
4,592
4,503
All retail stores, total salesf
mil. of dol
822
Durable goods stores
do._
846
838
813
837
'874
804
856
r 772
860
664
'937
' 651
4,230
Nondurable goods storesf
do..
3,769
4, 003 ' 4, 384 ' 4, 071 ' 4, 989 ' 3, 783 ' 3, 840
3,620
3,666
3,670
3,712
3,733
By kinds of business:
363
365
302
352
440
469
702
456
406
405
477
528
479
Apparel
do._
280
269
247
269
247
260
'240
248
'211
240
'207
'208
' 212
Automotive §
do. _
299
336
342
336
370
354
351
316
289
373
'244
300
235
Building materials and hardware
do
208
Drug
do.
195
194
190
182
181
207
167
200
170
193
'280
203
588
525
529
495
473
468
546
431
'501
Eating and drinking!
do.
446
'524
'540
'523
1,410
Food stores
do 1.274
1,275
1,285
1,237
1,248
1.377
1,172
1,277
1,220
1,421
1,301 ' 1, 257
209
Filling stations
do 280
280
317
288
286
283
270
277
273
'186
'199
' 193
740
General merchandise
do662
765
583
659
648
880
680
846
700
'684
1,214
621
190
Household furnishings
do 187
193
162
192
174
219
203
201
206
163
261
157
658
Other retail storesf
do
522
558
493
557
532
628
548
565
558
'565
801
583
All retail stores, indexes of sales:
137.2
152. 5
134.5
158.5
181.2
140.7
142.8
139.4
150.7
142.0
156.6
Unadjusted, combined indexf.. 1935-39=100' 137. 7 ' 150. 5
99.9
Durable goods stores
do
104.4
108.3
101.2
100.1
109.7
105.4
104.7
103.4
108.1
90.2
117.7
'82.5
167.2
Nondurable goods storesf
do
152. 5
166.9
145.3
149.3
153. 5
150.5
173.5
176.4
153.0
201.8
' 155.6 ' 170.1
159. 5
Adjusted, combined indexf
do
149.6
146.1
146. 2
142.8
141.9
140.4
150.2
153.5
141.5
144.4
' 156. 9 r 170.1
111.3
105. 1
103.2
103.9
111.6
100.6
99. 5
100.5
101.2
Durable goods stores
do.
107.3
109.9
95.4
' 103. 5
175.1
164.1
160.0
160.0
152.9
155.3
153.7
166.3
170.5
Nondurable goods storest
do.
152.6
160.3
' 174. 3 ' 189. 6
By kinds of business, adjusted:
182.1
171.4
166. 3
180. 7
163.5
163.1
146.8
166.0
112.3
197.5
198.0
152.5
261.0
Apparel
do.
63.9
61.5
58.3
61.4
56.4
61.2
'54.7
56. 5
Automotive §
do.
56.6
'49.8
52.4
'48.4
'47.5
159. 2
Building materials and hardware
do
156.9
1P3.1
157.0
162.0
153.4
147.0
174.7
175.4
147.5
163.8 ' 176. 6
149.0
176.7
168.7
163.9
162.2
151.7
155.6
174.0
141.7
146.5
174.9
176. 5 ' 176. 2
180.5
Drug
__.
do...
238.6
190.3
201.0 '209.3 ' 208.8 ' 207. 2 ' 230.4 ' 252.8
188.3
181.0
181.0
175.0
Eating and drinkingf
do...
179.0
174.7
166. 5
160.4
159.3
155.8
156.3
166.7
150. 9
153.1
167.8
172.6 ' 173.4
164.2
Food stores
do.__
107.8
Filling stations
do...
115.3
124.8
141.4
129. 6
124.6
128.9
138.9
134.3
136.3
96.8 ' 111.9 ' 118.5
154.4
147.1
142.0
139.0
130.7
127.2
144.3
138.4
136.2
155.0
156.4 '176.6
135.6
General merchandise
do...
158.5
Household furnishings
do. _.
138. 2
142.3
136. 7
132.5
123.4
145.7
176.0
149.8
157.6
159.2
161.8
138.6
194.1
189. 9
183.6
188.8
202.6
200.6
189.3
167.1
175.8
182.8
190.9 ' 203.6
179.9
Other retail storesf
do_._
Chain-store sales, indexes:
Chain-store Age. combined index (20 chains)
175.0
177.0
187.0
182.0
183.0
170.0
181.0
169.0
164.0
194.0
177.0
171.0
average same month 1929-31 = 100.- 180.0
212.0
220.0
200.0
181.0
172.0
218.0
208.0
Apparel chains
do
228.0
295.0
243.0
216.0
239.0
174.0
Drug chain-store sales:
132. 3
140.2
210.3
135.2
149.3
141.6
132.7
124.4
129. 3
129. 5
136.0
147.1
124.6
Unadjusted
1935-39 = 100Ad justed
do
147. 8
142.3
138.8
138.2
125.0
133.4
137.0
147.1
128.9
141.0
145. 5
154. 6
146.3
Grocery chain-store sales:
169. f,
166. 4
167.0
169.0
167.3
168.9
173. 4
170.9
170.0
170. 7
175. 2
158.0
Unadjusted
1935-39=100. v 165.8
Adjusted
do._. v 164. 2
174.3
172.4
172.4
168.3
168.2
170.8
170.0
170.1
169.5
165. 6
162.1
162.8
Variety-store sales, combined sales. 7 chains:
132.2
137.8
130.2
140. 9
r 125. 1
263.0
124.8
161.6
106.1
129.1
123.1
116.1
Unadjusted
1935-39 = 100. » 123. 6
Ad j us ted
do... _ » 147.4
142.3
143. 4
143.4
133. 6
135.1
136.2
143.2
157.0
127. 1
144.6 ' 157. 6
139.2
Chain-store sales and stores operated:
Variety chains:
S. S. Kresge Co.:
28, 667 12, 277 13, 097
13,174
14, 437 14, 219 14, 536 13, 565 14, 781 14, 997 17, 237 16,610
Sales
thous. of dol— 14, 069
662
671
672
671
674
673
671
Stores operated
number.. 671
672
671
663
671
665
S. H. Kress & Co.:
8, 733
9,599
8, 063
9,105
10, 278 11, 046 18, 397
8, 750
9, 607
8, 573
8, 503
9,634
8,640
Sales
thous. of dol—
244
246
246
245
244
246
245
Stores operated
number. 243
244
245
244
244
244
MeCrory Stores Corp.:
5,023
5,656
5,648
10,464
4,504
5,017
4, 833
4,373
4,749
4, 671
4,323
4,788
5,163
Sales
thous. of doL 202
203
203
203
203
203
203
Stores operated
number. _
203
203
203
202
203
202
G. C. Murphy Co.:
12, 269
5,775
6,094
5, 598
5, 481
6,156
7,335
6,136
6,719
6,205
6,051
5,934
5, 091
Sales
thous. of dol—
208
207
207
207
207
207
207
Stores operated
number..
206
207
207
207
207
207
F. W. Woolworth Co.:
33.
847
3S,
475
36,
376
64,
240
31,
705
33,
675
32,
660
29,
639
30,
965
33,025
32,
901
30,
266
33,136
Sales
thous. of dol—
2,011
2,012
2,015
2,011
2, 011
2,017
Stores operated
number. _ 2,010
2,017
2,013
2, 018
2,012
2, 015 j 2,012
'Revised.
*> Preliminary.
^Beginning December 1941, seasonal adjustment factors of 100 are being used for this group.
fRevised series. Data for sales of "eating and drinking places," "other retail stores," and the totals for nondurable goods stores and all retail stores, have been revised
beginning 1935; revised monthly data beginning August 1941 are shown in the October 1942 Survey and revised 1941 monthly averages are in note marked " t " on p. S-7 of the
April 1943 issue; all revisions will be published in a subsequent issue.
*New series. The data on consumer expenditures have been revised beginning 1939 and are not strictly comparable with data shown in the Survey prior to the April
1943 issue; revision o[ the data prior to 1939 is in progress. A detailed description of the series, as originally compiled, appears on pp. 8-14 of the October 1942 Survey and a
subsequent change in the concepts is outlined in the descriptive notes for table 10, lines 16 to 19, included on p. 24 of the March 1943 issue. Revised dollar figures for 1939-41
are shown on p. 7 of the April 1943 Survey. Revised data for January 1942: Dollar figures (in millions)—total, 6,393; goods, 4,143: services, 2,250. Indexes, unadjusted—total,
130.5; goods, 133.2; services, 126.0. Indexes, adjusted—total, 141.3; goods, 151.0; services, 124.7. Revised figures for February 1942 are on p. S-7 of the April 1943 Survey.
S-8
SURVEY OF CURRENT BUSINESS
Monthly statistics through December 1941, together with explanatory notes and references
to the sources of the data, may be found in the
1942 Supplement to the Survey
May 1943
1942
1943
March
March
April
May
June
July
1943
August
September
October
Novem- December
ber
January
February
DOMESTIC TRADE—Continued
R E T A I L TRADE—Continued
Chain-store sales and stores operated—Con.
Other chains:
W . T . Grant Co.:
Sales
--...thous. of d o l . . 11, 956
Stores operated
number. _
493
J. C. Penney Co.:
Sales
thous. of dol. _ 35, 517
Stores operated
number..
1,610
D e p a r t m e n t stores:
Accounts receivable:
Instalment accounts!—-Dec. 31, 1939=100..
Open accounts§
do
Collections:
Instalment accounts!
percent of accounts receivable..
Open accounts§
do
Sales, total U. S., u n a d j u s t e d . . 1923-25 = 100..
121
Atlantaf
1935-39=100..
171
Boston
1923-25 = 100. _
100
Chicago
1935-39=100-.
144
Cleveland t
do
160
Dallas
1923-25 = 100__
Kansas City
1925 = 100..
Minneapolis
1935-39=100._
104
New York
1923-25=100..
135
Philadelphia
1935-39=100..
172
Richmond
do
124
St. Louisa
1923-25=100-.
San Francisco
1935-39=100..
136
Sales, total U. S., adjusted
1923-25 = 100..
Atlantaf
1935-39=100..182
Chicago
____do
Clevelandf
do
169
172
Dallas
1923-25=100...
Minneapolis
1935-39=100..
New Yorkt
1923-25 = 100..
127
Philadelphia
1935-39 = 100. _
154
Richmond
do
181
138
St. Louisi
1923-25 = 100..
San Francisco
1935-39 = 100—
Instalment sales, New England dept. stores
percent of total sales..
Stocks, total IT. S., end of month:
r 92
Unadjusted
1923-25 = 100..
Adjusted
do
Other stores, instalment accounts and collections:*
Instalment accounts outstanding, end of mo.:
Furniture s t o r e s . .
Dec. 31, 1939=100..
Household appliance stores
do
Jewelry stores
do
Ratio of collections to accounts at beginning
of month:
F u r n i t u r e stores
percent. _
Household appliance stores
do
Jewelry stores
do
Mail-order and store sales:
Total sales, 2 companies
thous. of dol__ 118,532
52,192
Montgomery Ward & C o . . .
do
66, 340
Sears, Roebuck & Co
do
Rural sales of general merchandise:
185.6
Total U. S., unadjusted
1929-31 = 100..
173.5
East
do
239.7
South
do
141.5
Middle West
do
193.3
Far West
do....
211.3
Total U. S., adjusted
do
193.2
East
do
265.4
South
do
159.7
Middle West
do
234. 9
Far West
do....
10, 741
495
12, 363
494
12, 200
493
12,222
494
10, 441
494
11, 442
494
12, 648
494
15,111
493
14, 382
493
25,138
493
32, 347
1,608
36, 531
1,609
37,170
1,609
38, 457
1,609
34, 683
1,610
40, 523
1,611
47,467
1,611
54, 294
1,611
49, 426
1,611
63, 320
1, 611
102
29, 729
1,611
91
22
46
118
151
94
136
147
129
110
125
106
rl39
161
125
148
124
150
141
161
133
124
120
149
165
130
161
21
47
115
149
93
133
153
127
111
130
106
132
155
120
149
117
153
134
151
131
129
110
147
156
120
157
50
108
144
89
124
137
126
101
111
99
128
147
108
142
108
147
123
134
126
112
105
130
147
108
147
9.2
8.4
111
109
122
118
101
96
100
91
93
13
13
19
13
13
19
13
13
20
14
13
22
14
13
22
131, 894
55, 856
76,038
133, 905
57, 604
76, 301
119,117
50, 762
68, 356
117, 597
48,476
69,121
175.6
183.3
202.0
155.9
200.1
191.1
192.4
229.3
167.0
224.0
116
137
99
137
104
143
125
134
123
1*7
97
122
144
108
149
23
60
83
116
67
97
105
100
88
94
81
92
120
87
138
121
162
139
143
143
133
114
139
170
126
166
24
59
103
144
75
117
134
127
114
1.15
94
112
147
114
158
130
169
148
157
165
131
123
152
194
152
172
25
60
133
171
105
155
161
171
133
145
120
143
174
131
184
123
161
141
146
154
126
112
133
170
122
176
6.9
5.4
6.2
9.1
7.0
130
127
129
136
126
140
131
137
129
124
164. 8
171.7
188. 0
146.6
188. 8
179.5
186.6
221.7
154.8
210.0
22
56
100
124
85
121
128
109
160.3
162. 9
179.4
144.0
203.6
176.0
177.4
223.1
152.5
213. 7
29
65
137
183
117
154
165
170
146
156
130
160
211
145
191
128
173
147
158
150
131
115
139
170
129
182
29
63
157
206
116
168
187
191
147
144
144
182
203
158
219
138
186
153
170
171
144
121
142
193
135
210
31
65
222
286
181
246
252
280
231
219
215
262
304
212
296
125
166
146
146
162
141
119
140
164
129
173
32,890
1,611
58
65
65
89
185. 6
204.9
224.0
165.2
194.5
211.4
228.2
248.1
186.4
236.3
10,433
492
28
61
111
151
89
123
132
155
126
114
97
112
134
117
150
143
195
155
179
204
143
123
157
197
146
195
28
61
130
190
90
155
155
205
*134
132
112
137
••161
143
184
167
216
185
194
241
188
138
185
'234
166
238
7.8
5.0
7.6
127
114
121
105
94
'89
'93
76
59
65 i
73
54
63
70
50
62
16
13
25
16
14
26
18
15
30
17
15
31
18
15
'45
17
15
29
104,118
42, 521
61, 597
113,447
48, 741
64, 706
142,022
61, 495
80, 527
174,045
76, 068
97, 977
153, 406
68, 396
85,010
193,412
86, 472
106, 941
96,682 ( 99,300
39,983
41,443
56, 699
57,857
137.3
128.1
158.6
118.9
193.8
188.1
179.9
233. 5
161.2
236. 3
160.8
153.3
178.0
135.5
207.8
196. 6
192.4
246. 9
164. 3
225.6
214.2
201.2
262.8
185.7
272.2
202.6
204.6
238.0
181.1
232.6
250.5
245.4
362.2
210.8
276.2
192.8
190.7
244.4
166. 0
230. 0
253.6
266.2
334.6
216.5
298.6
194.9
206. 5
243. 7
165.2
246.2
272.7
273.2
325.8
243.0
324.5
170.5
164.1
216. 9
155.8
298.8
54.0
39.0
15.0
52.4
38.1
14.3
10.5
41.9
1.6
54.5
38.5
16.0
52.8
37.5
15.3
9.8
43.0
1.7
53.4
37.9
15.5
51.9
37.0
14.9
8.9
43.0
1.5
••100
60
36
60
152.2
149.7
193.1 i
136.0
171.8 !
200.0
197.0 I
244.1 i
177.8 i
233.7
174.3
164.0
245.8
151.9
192.3
215.5
200.5
224.1
191.0
259.9
EMPLOYMENT CONDITIONS AND WAGES
EMPLOYMENT
Estimated civilian labor force (Bureau of the
Census):*
Labor force, total
millions. _
Male
do
Female
do
Employment
do
Male
do
Female
do
Agricultural
do
NonagriculturaL
do
Unemployment
do
52.0
36.4
15.6
51.0
35.8
15.2
9.0
42.0
1.0
54.5
40.0
14.5
50.9
37.6
13.3
8.9
42.0
3.6
53.7
39.8
13.9
50.7
37.8
12.9
9.3
41.4
3.0
54.2
40.0
14.2
51.6
38.4
13.2
10.2
41.4
2.0
56.1
41.1
15.0
53.3
39.4
13.9
11.5
41.8
2.8
56.8
41.6
15.2
54.0
39.9
14.1
11.7
42.3
56.2
41.1
15.1
54.0
39.7
14.3
11.2
42.8
2.2
54.1
39.2
14.9
52.4
38.2
14.2
10.2
42.2
1.7
52.4
37.1
15.3
51.0
36.3
14.7
8.7
42.3
1.4
52.3
36.7
15.6
50.9
35.9
15.0
8.8
42.1
1.4
' Revised.
*» Preliminary.
§Data revised slightly and'rounded to nearest percent; revisions prior to November 1941, which have not been published, are available on request.
^The index on a 1935-39 base shown in the 1942 Supplement is in process of revision; pending completion of the revision, the index on a 1923-25 base is being continued.
%A few revisions in data for 1938-41, resulting from changes in the seasonal adjustment factors, are shown on p. S-8 of the November 1942 Survey.
fRevised series. Indexes of department store sales for Atlanta district revised beginning 1935, see p. 22, table 19, of the December 1942 Survey. Revised data beginning
1919 for the Cleveland district are shown on p. 32 of the April 1943 issue.
*New series. Indexes of instalment accounts and collection ratios for furniture, jewelry, and household appliance stores beginning January 1940 will be shown in a sub-
S-9
SUEVEY OF CURRENT BUSINESS
May 1943
Monthly statistics through December 1941, together with explanatory notes a n d references
to the sources of the data, may be found in the
1942 Supplement to the Survey
1943
1943
March
March
April
May
June
July
August
1943
September
October
Novem- December
ber
January
February
EMPLOYMENT CONDITIONS AND WAGES—Continued
EMPLOYMENT-Continued
Employees in nonagricultural establishments:f
Unadjusted (Q. S. Department of Labor):
Total
thousands.. 38,232 35,411
35,908 36,346 36, 665 37, 234 37, 802 38, 348 38, 478 38, 533 38,942
37,862 38,071
13, 859 14,019
15, 957
14,133
14, 302 14, 641 14, 980 15, 233 15, 313 15,434
15,684
15,743 • 15, 851
Manufacturing
do.
933
859
'867
929
928
921
918
885
867
Mining
do 923
910
894
902
1,625
1,331
1, 771
1,909
1,991
2,181
1,674
1, 470 ' 1,386
C obstruction
do
2,108
2,185
1,896
2,028
3,295
3,467
3,389
3,442
3,484
3,533
3,502
3,463 ' 3,456
3,519
3,542
3,520
Transportation and public utilities-do
3,539
6,711
6,332
6,679
6,667
6,606
6,496
7,107
6,371 ' 6, 291
6,504
6,561
6,771
Trade
do
6,697
4,194
4,283
4,265
4,309
4,324
4,371
4,279
4,259 ' 4, 270
4,355
4,397
4,295
4,327
Financial, service, and miscl
do
4,794
6,003
4,856
4,958
5,037
5,323
5,811
5,689 ' 5,950
5,184
5,520
5,723
5,672
Government
do....
Adjusted (Federal Reserve):
36,002 36,063
38, 792 • 38,823
Total
do — 38, 871
36, 274 36,461
38, 842
37,051
37,433
37, 645 37, 962 38,325
15,933 •15,975
Manufacturing
. . d o - . . . 16,039
14, 220 14, 382 14, 640 14, 819 15,006
15,349
15,687
13, 939 14,081
15,162
'873
870
Mining
_do.--_
863
933
884
936
938
929
900
929
918
883
888
1,843 ' 1,748
Construction
do
1, 534
1,791
2,004
1,888
1,826
1, 851
1,959
1,768
1,889
1,916
1,902
3,549 ' 3, 545
3,542
3,435
3,535
3,366
3,408
3,471
3,482
Transportation and public utilities,do
3,446
3,508
3,490
3,466
6, 513 ' 6, 458
6,530
6,695
6,635
6,812
6,690
6,609
6,523
Trade
do —
6,610
6,673
6,607
6,619
Estimated wage earners in manufacturing industries, total (IT. S. Dept. of Labor)*
thousands.. 13, 700
11,821
11,988
12,127
12, 282 12, 564 12, 869 13,079
13,516 • 13,609
13,267 • 13,474
13,166
Durable goods
do
6,500
8,086
6,350
6,649
6,823
7,875 ' 7,985
7,003
7,313
7,597
7,780
7,192
7,464
1,569
Iron and steel and their products
do
1,720
1,579
1,599
1,643
1,693 ' 1, 706
1, 556
1,612
1,621
1,635
1,676
1,620
Blast furnaces, steel works, and rolling
524
mills....
thousands..
544
549
546
548
532
'523
'522
540
525
••518
546
'676
Electrical machinery
.
do
690
511
520
523
528
564
630
649
661
542
586
610
Machinery, except electrical
do
1,230
1,028
1,202 ' 1, 216
1,048
1,058
1,078
1,094
1,114
1,168
1,190
1,126
1,148
Machinery and machine-shop products
473
469
400
409
418
465
thousands. _
391
425
435
440
457
449
'642
655
Automobiles
do
429
631
460
534
592
513
556
572
613
485
421
Transportation equipment, except automobiles
thousands. _ 2,183
1,145
1,250
1,345
1,752
2,067 ' 2,132
1,443
1,559
1,673
1,909
'412
410
373
370
373
390
408
Nonferrous metals and products
do
381
405
392
398
378
387
'478
475
545
549
551
546
489
Lumber and timber basic products...do
559
515
535
526
555
561
306
308
309
303
260
Sawmills
do
313
295
290
••282
312
313
'266
Furniture and finished lumber products
364
362
365
387
thousands..
397
384
363
365
381
369
374
367
368
170
179
169
Furniture
do
186
177
174
170
168
170
172
173
170
'359
378
Stone, clay, and glass products
do
358
374
362
376
376
369
368
368
369
368
370
'
5,
624
Nondurable goods
do.-.5,614
5,488
'
5,
641
5,471
5,478
'
5,
694
5,702
5,561
5,677
5,459
5,766
5,670
Textile-mill products and other fiber manu'
1,
272
factures
thousands..
1,289
1,266
1, 298
1,303
1,298
1,
293
1,298
1,283
1,275
1,287
1,272
1,277
Cotton manufactures, except small wares
502
'504
503
507
509
thousands._
508
509
510
507
505
505
506
Silk and rayon goods
do
103
105
105
105
99
106
103
100
98
98
Woolen and worsted manufactures (ex175
cept dyeing and finishing)..thousands..
179
180
183
183
181
183
177
180
177
176
Apparel and other finished textile products
'897
thousands..
884
952
959
903
934
907
873
915
866
904
239
236
Men's clothing
do.
259
259
256
246
248
247
236
241
242
235
252
248
277
272
263
252
Women's clothing
do.
229
252
247
231
253
248
'355
358
392
381
357
386
377
367
364
Leather and leather products
do.
374
357
363
351
198
200
225
218
200
214
209
204
Boots and shoes
do.
222
213
199
204
936
965
890
906
1, 210
947
1,125
1,018
1,052
1,099
1,038
Food and kindred products
do.
893
"917
252
258
239
239
263
245
258
264
254
265
263
Baking
do.
237
89
322
120
248
114
191
191
136
98
Canning and preserving
do.
95
87
92
178
178
174
179
187
180
174
176
185
165
Slaughtering and meat packing
do
160
160
'94
98
92
97
99
94
99
100
96
93
Tobacco manufactures
do
95
93
91
313
297
312
298
309
302
300
304
Paper and allied products
do.._
327
'310
313
320
326
150
151
160
152
151
155
151
150
Paper and pulp
do...
165
163
165
151
Printing, publishing, and allied industries
'338
335
thousands. _
335
342
333
331
328
325
325
323
325
338
331
722
715
Chemicals and allied products
.do
702
576
588
600
623
649
551
613
693
673
728
115
114
Chemicals
.
....do.]..
112
110
110
112
111
111
110
111
111
rill
122
123
124
Products of petroleum and coal
do
122
125
126
128
129
128
124
125
126
129
78
'77
Petroleum refining
do
79
79
79
78
80
81
81
78
79
80
'185
Rubber products
.
do
183
146
142
141
180
146
158
164
174
"188
169
153
82
Rubber tires and inner tubes
do
80
81
59
62
58
58
68
77
70
73
66
Wage earners, all manufacturing industries, un165.0 ' 166.1
adjusted (TJ. S. Dept. of Labor) t-1939 = 100..
167.2
144.3
164.5
146.3
148.0
149.9
153.4
157.1
161.9
159.6
160.7
218.1 r 221. 1
Durable goods
do
223.9
175. 8
215.5
180.0
184.1
188.9
193.9
199.2
202.5
210.4
206.7
170.7 ' 172. 1
156.9
169.1
Iron and steel and their products
do
173.4
158.3
159.3
161.3
162.5
163.5
163.4
165.7
164.9
Blast furnaces, steel works, and rolling
134.9
' 134. 5
' 134. 3
140.0
140.4
140.6
141. 0
141.3
138.9
137.0
133.4
mills
1939=100...
135.5
266.2
250. 3
255.1 ' 260. 8
197.2
201.7
209.1
200.5
203.6
217.8
226.3
243.0
Electrical machinery
do_.._
235.3
200.2
225.1
227.5 ' 230.1
232.8
194.6
207.0
198.3
204.0
210.7
213.0
221.0
Machinery, except electrical
do
217.3
Machinery and machine-shop products
233.7
231.7
230.0
202.2
209.9
193.3
197.9
206.6
214.9
217.5
226.0
1939=100..
222.0
156.7 ' 159. 5
152.5
138.2
162.7
104.7
106.5
114.3
127.4
120.6
Automob iles
do
132.6
142.3
147.1
Transportation equipment, except auto721.4
909.1
787.4
847.1
982.5 1, 054. 3 1,104. 0 1,156. 5 1, 202. 8 1, 259. 2 1, 302. 2 1,343.1
mobiles
1939=100.- 1, 375. 2
178.1 ' 179. 6
176.7
162.8
178.8
162.9
164.9
161.6
166.3
173.5
169.0
170.3
171.2
Nonferrous metals and products
do
116.3 '113.8
122.5
129.7
112.9
131.0
132.0
130.6
133.0
125.1
133.5
129.9
127.2
Lumber and timber basi: products..do
90.4
'92.4
'97.9
106.2
107.4
108.2
107.0
108.7
100.6
108.5
105.0
102.5
Sawmills
do
Furniture and finished lumber products
111.0
110.2
111.4
118.1
117.2
116.2
110.5
121.1
112.4
114.0
112.3
111.3
112.0
1939=100-.
106.9
105.9
106.7
111.3
109.6
105.8
116.9
112.4
107.9
107.0
108. 3
107.2
Furniture
_do.
123.2 '122.4
125.4
128.2
128.1
127.3
126.1
125.7
125. 2 | 125.3
Stone, clay, and glass products.
_do.
128.8
125.8
' Revised.
f Revised series. The estimates of employees in nonagricultural establishments and in each of the component groups, with the exception of the trade group and the
financial, service, and miscellaneous group, have been revised beginning 1939 and revisions of the earlier data are in progress; the revised data will be published when revisions
are completed (data beginning August 1941 are in the October Survey). The indexes of wage-earner employment and of weekly wages (pp. S-ll and S-12) in manufacturing
industries have been completely revised; for 1939-41 data for the individual industries and 1939-40 data for all manufacturing, durable goods, nondurable goods, and the industry
groups, see pp. 23-24 of the December 1942 Survey. Indexes for the totals and the industry groups have been further revised beginning January 1941; data for 1941 are shown
on p. 28, table 3, of the March 1943 issue.
*New series. Data beginning 1939 for the new series on wage earners in manufacturing industries will be shown in a later issue; data for the individual industries beginning October 1941 are available on pp. S-8 and S-9 of the December 1942 Survey; the figures for all manufacturing, durable goods, nondurable goods, and the industry groups
are shown on a revised basis beginning with the March 1943 Survey and figures previously published for these series are not comparable with the current data.
S-10
SURVEY OF CURRENT BUSINESS
Mav 1943
Monthly statistics through December 1941, together with explanatory notes and references
to the sources of the data, may be found in the
1942 Supplement to the Survey
Febm-
EMPLOYMENT CONDITIONS AND WAGES—Continued
EMPLOYMENT—Continued
Wage earners, all mfg., unadj.j—Con.
Nondurable goods _'
1939 = 100..
Textile-mill products and other fiber manufacturers
1939=100,.
Cotton manufacturers, except small wares
1939 = 100.Silk and rayon goods
do
Woolen and worsted manufacturers (except dyeing and finishing), ,.1939=100,.
Apparel and ether finished textile products
1939 = 100..
Men's clothing
do
Women's clothing
do
Leather and leather products
do
Boots and shoes
do
,
Food and kindred products
do
]
Baking
do
I
Canning and preserving
_do
I
Slaughtering and meat packing
do.
Tobacco manufacturers
do
Paper and allied p r o d u c t s . . . .
do
Paper and pulp
- do
Printing, publishing, and allied industries
102.2
1939=100..
Chemicals and allied products
do
Chemicals
do
Products of petroleum and coal
dc
Petroleum refining
do
Rubber products
do
155.0
Rubber tires and inner tubes
do
Manufacturing, adjusted (Fed. Res.)f
do
"l68.~2
224. 6
Durable, goods
do
123.8
Nondurable goods
do
Manufacturing, unadjusted, by States and
cities:
State:
California* . . . .
.
1940=100._
Delaware
1923-25 = 100.,
Illinois
1935-39=100..
Maryland
1929-31 = 100 .
Massachusetts!
1935-39 = 100 .
New Jersey
1923-25 = 100
New York
1935-39 = 100..
Ohio
do
Pennsylvania
1923-25 = 100..
Wisconsin
1925-27 = 100_ _.
City or industrial area:
Baltimore
1929-31 = 100,,
Chicago
1935-39 = 100..
Cleveland
do
Detroit
1923-25= 100.. I 165. 0
Los Angeles*
1940 = 100_ _
283. 3
Milwaukee
1925-27= 100. 170.1
New York
1935-39 = 100..
139.9
Philadelphia
1923-25 = 100..
143. 0
Pittsburgh..
do
128.7
San Francisco*
1940 = 100 _ _ 321.5
St. L o u i s . .
1937=100.,
Wilmington
1923-25= 100..
184. 6
Nonmanufacturing, unadjusted (U. S. Department of Labor):
Mining :f
!
Anthracite
1939 = 100.. |
89.2
Bituminous coal
do
109.1
113.2
Metalliferous
do
95.8
Quarrying and nonmetallic
do
79.9
Crude petroleum and natural gas!
do
Public utilities:!
87.4
Electric light and power
do
116.0
Street railways and busses
do
122.4
Telephone and telegraph
do
Services:!
115.8
Dyeing and cleaning
do
118.4
Power laundries
do
104.5
Year-round hotels
do
Trade:
98.3
Retail, totalt
-- --do .
105. 9
Food*
do.-_111.5
General merchandising!
do
97.2
Wholesale!
do
116.1
Water transportation*
do
(
Miscellaneous employment data:
|
Construction, Ohio
1935-39=100._I.
Federal and State highways:
Total!
number.. | _
Construction (Federal and S t a t e ) . . d o
|.
Maintenance (State)
do
i.
Federal civilian employees:
j
United States
thousands.. I
District of Columbia
do
|
Railway employees (class I steam railways):
Total
.
thousands J
Indexes: Unadjusted!
1935-39 = 100..!
Adjusted!
do
124.5
111.5 !
121.4
118.6
102.0
112.9
103. 0
104. 2
103. 4
64.4
132.6
1Q1.3
123.2
120.1
j
!
'
!
101.7
191.1
157.4
117.5
107.8
121.0
107. 0
145. 3
176. 5
120.6
r
128. 1
87.2
120. 9
128.3
87.9
122.6
128.5
88.4
122.7
128.5
87.8
122.5
128.0
86.0
121.3
127.7 !
81.9
120.3
127.7
83.2
118.7
128.9
82.7
118.5
120.6 '
118.5 ;
100.0
111.3 i
101.7 |
104.5 !
102.9 i
68.6 |
132 6 •
99.7
122.7 i
120.2 ;
118.3
117.2
96 9
109.8
99. 9
106. 0
103. 8
70. 6
136. 9
97.2
120.5
118.9
110.6
113.4
84.3
108. 6
98.2
110.8
106.0 j
1-14.0
99.0 I
117.7 !
116.6 !
109.7
110.1
85.0
107.7
97.6
123.1
110.0
142. 3
149. 1 |
100.2 !
113.7 i
112.5 |
115.9
113.1
92.9
105. 8
95. 6
131.7
111.8
184. 5
148. 6
10.3.5 j
112.3
110.6 j
115.0
112.5
92.1
102.8
91.7
141.6
113. 6
239.7
147.3
105.2
111.9 ;
109.7 ,
114.5
111.0
92.5
103.0
91.3
128.6
114.7 i
142.4 I
144.6
106. 4
113.1
109.5
112.2
107.8
91.1
104. 9
93.5
119.1
114.4
' 84.5
155. 0
106.3
116. 4
109. 6
112. 0
107.7
'91.3
103.1
91.5
112.9
111.6
71. 2
153.7
102.4
116.6
110.0
99.0 j
208.3
160.7 i
120.7 |
110.1
120.7
113.8
150.9
188.9
121.0
99 3 !
212.8
160. 2
121.5 I
110.3
126.3
121.2
153.4
193.9
121.4
216.3
158.9
121.6
110.8
130.7
125.5
155.1
198. 5
120.9
103.1
240.3
159.7
117.8
107.0
143. 8
141.9
160. 9
209. 6
122.5
104.3
243. 7
160. 4
117.4
107.1
149. 0
147.4
164. 4
215.4
124.3
102.2 I
248.0 !
163.4 i
116.0 !
' 106. 3 i
151.6 i
lilO.O
167.3
219.3
126. 3
245. 8
177.8
142.8
178.4
140. 6
163. 2
153. 6
159.3
r 116.0
143.5
253.0
180.8
145.4
180. 3
143.1
164. 7
155.8
' 163.1
116. 8
145.1
254.3 s
179.2 |
146.3
186. 2
144.8 i
165.9
156.0
163.5
' 117.0
145.1
100.9
199.7
158.1 :
118.4
108.4 i
117.0 '
106.5 :
147.1
180. 2
121.0
89.1 i
182.7
142.0
136.4
160. 7
134.8
151.6
145. 2
142.8
113.0
129.6
98.5
!
225.1
!
159.2
! 120.8
110.3
!
135.3
!
130. 5
i
1 156.9
201. 6
i
121.6
!
99.1 I
237. 9
170. 6
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175.9
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158.4
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151.5
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127. 2 '
81.6
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|
|
j
I
I
i
I
I
157. 7
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126.6
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137.6 i
157.3 i
115.7
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141.8
131.9
123.8
119.4
187. 2
128.7
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165.5
136. 1
162. 7
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208.9
147.8
110.4
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135.4
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138. 7
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133.5
218. 4
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119.9
247.2
139.0
138.1
174. 5
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137.9
229.8
155. 4
129.3
131.4
120. 4
274. 6
138.9
150.2
174, 8
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168. 7
143.1
233. 9
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132.5
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291.8
138.6
155.0
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171.6
146.9
243.3
160. 0
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134.5
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292.2
141. 4
162.6
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174.5
149.5
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292.8
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' 178. 7
150. 3
266. 7
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134.7
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299.3
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96. 1
119.2
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90.8
94.9
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125. 7
113.6
89.4 ;
90. 4
118.0
124. 6
117.2
87.4
93.0
118.4
123.5
116.5
86.8 |
92.8
117.5
121.4
116. 3
86.2
92.5
116.6
118.5
114.5
85.0
91.8
115.3
116.5
112.9
84.4
91.8
113.7
116.3
109.5
83.6
90.9
112.7
115.8
105.9
83.0
98.8 i
105.6 i
121.1 !
98. 5
107.2
122. 1
97.6 I
108.4
123.4 j
94.6
109.7
123.6
92.9
110.0
123.2
91.3
110.0
122, 9
90.4
111.6
122.4
89.0
113.2
122.3
118.8
119.2
103.7
114. 8
118.3
103.3
111.8
119.2
101.8
106.6
111.4
132.5
100.1
98.3
117.0
111.2
166.3
99.6
98.4
99.0
107.0
112. 3
97.7
100.8
100.6 j
99.9
103.2 i 104.5
119.5 ! 120.4
112.9
112.6
101.6
120.4 ;
115. 1 :
103.5 ;
126.6 !
118.7
104.5
129.2
119.8
103.8
104.2 ,
111.2
106. 7
105. 3
92.1
104.0
110.9
109 1
103. 9
89.6
103. 7
112. 3
110.0
102. 3
90.1
102.3
112.1
109.0
101.4
90.4
99.5
112.0
104.2
100.6
85.7
131.9
137.7
142. 8
137.5
124.8
191,444 i 218,037 ! 236,929
52,975 i 72,420
90,103
102,023 • 105,441 107,804
1,926 !
239 i
1,971
248
122.8
122.5
101. 5
236,102 240,633
89, 999 94,191
112,000 114,361
122.5
122.1
121.5
102.1
101.1
109.7
112.6
100.2
86.9
104.3
112.0
121.8
100.9
90.8
116.5
112.8
238,722 | 219,047
90, 022
80, 836
117,972 109,076
108.1
'96.5
186,942
58, 947
100, 898
161,010
40,588
94,108
84.9
147,915
33, 655
88, 831
84.8
S-ll
SURVEY OF CURRENT BUSINESS
May 1943
Monthly statistics through December 1941, together with explanatory notes and references
to the sources of the data, may be found in the
1942 Supplement to the Survey
1945
1943
January
| FebruI ary
EMPLOYMENT CONDITIONS AND WAGES—Continued
LABOR CONDITIONS
Average weekly hours per worker in factories:
Natl. Ind. Con. Bd. (25 industries)-.-hours._
U. S. Dept. of Labor, all manufacturing t
hours..
Durable goods*
do
Iron and steel and their products...do
Blast furnaces, steel works, and rolling
mills
hours..
Electrical machinery
do
Machinery, except electrical
do
Machinery and machine-shop products
hours..
Machine tools
do
Automobiles
do
Transportation equipment, except automobiles
*
hours. Aircraft and parts (excluding engines)
hours..,
Shipbuilding and boat building..do
Nonferrous metals and products ...do
Lumber and timber basic products.do
Furniture and finished lumber products
hours..
Stone, clay, and glass products
do
Nondurable goods*,,_
do
Textile-mill products and other fiber manufactures- hours..
Apparel and other finished textile products
hours,.
Leather and leather products
do
Food and kindred products
do
Tobacco man ufacturcs
do
Paper and allied products
do
Printing and publishing and allied industries
hours,.
Chemicals and allied products
do
Products of petroleum and coal
do
Kubber products
do
Average weekly hours per worker in nonmanufact uring industries (U. S. Dept. of Labor) :*
Building construction
hours._
Mining:
Anthracite
do
Bituminous coal
do
Metalliferous
do
Quarrying and nonmetallic
do
Crude petroleum and natural gas
do
Public utilities:
Electric light and power
do
Street railways and busses
do
Telephone and telegraph
do
Services:
J)yeing and cleaning
do
Power laundries
do. „
Trade:
lletail, total
do
Wholesale
do
Industrial disputes (strikes and lockouts):
Beginning in month
number..
In progress during month
do
Workers involved in strikes:
Beginning in month
thousands
In progress during month
do
Man-days idle during month
do
Employment security operations (Soc. Sec. Bd.):
Placement activities:
Applications:
Active
file
thousands
New and renewed
do
Placements, total
do
Unemployment compensation activities:
Continued claims
thousands..
Benefit payments:
Individuals receiving payments§. ..do
Amount of payments
thous. of dol__
Labor turn-over in manufacturing establishments:!
Accession rate mo. rate per 100 employees __
Separation rate, total
do
Discharges
do
Lay-offs
do
Quits
do
M iscellancous
do
PAY ROLLS
Weekly wages, all manufacturing industries,
unadjusted (U. S. Dept. of Labor) 11939 = 100
Durable goods
do
Iron and steel and their products
do
Blast furnaces, steel works, and rolling
mills
.1939 = 100..
42.7
42.7
42.6
43.2
43.6
43.7
44.2
44.3
44.5
42.7
45.0
43.5
42.7
44.9
43.1
42.9
45.2
43.5
42.9
45.2
43.6
42.6
44.8
43.0
43.0
45.3
43.7
42.4
44.6
43.0
43.6
45.8
44.3
44.0
46.1
44.8
44.4
46.1
45.3
44.2
45.9
4.5.0
44.5
46.2
45.7
40.2
46.0
49.7
39.6
45.9
49.3
40.0
46.2
40.0
46.4
49.7
39.2
46.0 j
48.8 '
40.2
46.4
49.4
39.9
46.0
48.0
40.9
46.7
49.5
42,0
47.0
49.5
41.7
47.0
49.0
41.9
47.0
49.6
42.8
46.9
49.6
49.7
54.6
44.5
49.0
53.9
44.7
49.0
54.1
44.3
49.2
53.8
44.4
48.3
52.7
43.8
48.8
52.8
45.1
47.8
51.2
44.1
49.0
52.5
45.2
49.0
52.8
45.5
49.4
53.0
45.5
49.6
52.5
45.7
49.4
52.1
46.2
47.9
48.1
48.0 !
47.7
47.4
47.3
46.7
47.1
47.7
47.5
46.9
46.7
47.6
48. 4
44.1
40,0
47.3
49.0
44.2
40.1
47.7
48.6
44.2
40.8
47.2
48.4
44.6
41.1
46.6
48.2 !
44.5
41.0
46.7
47.6
44.8
41.8
46.3
47.0
44.1
41.0
46.3
47.6
45.4
42.5
46.6
48.0
46.0
41.7
46.9
47.7
46.1
41.3
46.5
47.1
45.9 ;
39.8
46.2
46.7
45.8
41.7
41.1
40.3
40.1
41.2
40.2
40.0
41.5
40.5
40.1
41.5
40.1
39.9
41.4
39.2
39.8
41.4
40.1
40.2
41.0
39.3
39.7
42.8
41.3
40.8
42.8
41.4
41.3
43.7
41.8
42.1
42.7
41.7
'41.7
40.1
40.1
40.3
40.2
39.9
40.3 I
39.4 !
40.4
40.8
41.5
41.3
41.5
34.9
36.7
41.8
38. 6
37.1
38.9
41.6
40.4
43.4
37.0
39.0
42.4
40.6
44.0
37.4
40.3
43.9
41.2
44.9
37.1
40.3 i
43.2 i
39.4
44.2
38.1
40.2
43.0
38.6
44.5
I
!
I
I
38.2
42.7
39.5
41.6
38.5
43.6
40. 5
42.7
39.5
43.9
41.8
43.4
40.2
44.7
41.8
44.5
39.8
44. 5
41.1
44.5
39.8
45.0
42.3
44.6
7.3 |
37. £
37.9
38.0
37.8 j
37.1
36.3
35.9 ,'
35.7
44.0
43.8
40.5
30.9
34.8
43.3
44.5
40.0
41.5
37.3
43.6
44.7
40.6
40.8
50.2
40.8
42.7
!
I
|
!
j
37.5
40.0
40.7
36.6
42.3
37.3
39.3
40.4
37.6
41.7
36.8
38.6
40.9
37.7
41.6
35.4
38.1
41.5
38.5
40.6
35.1
38.1
41.9
38.6
40.2
36.2
38.4
41.3
39.5
41.2 I
38.0
42.1
39.0
40.8
38.3
42.5
38.7
40.1
38.1
42.7
39.1
41.4
38.0
42.8
39.0
41.5
38.0
42.8
39.2
41.9
38.0
43.1
39.5
42.3
35.0
35.4
36.7
37.2
37.5
!
43.6
42.0
42.0
34.6
31.6
30.5
31.8
35.2
32.7
35.4
33.2
32.3
30.5
34.0
32.1
35.8
33.5
35.1
34.2
42.3
37.6
42.6
39.0
43.7 !
38.4 [
44. 6
39.1
44.7
39.4
44.7
38.8
44.7
39.9
45.7
39.8
35.7
34.4
44.2
45.6
38.7
39.6
48.3
39.9
40.3
47.3
39.9
40.2 I
47.8 i
40.5 |
40.5
48. 0
40.3
40.0
48.5
40.7
40.1
47.4
41.4
40.5
47.9
40.6
39.8
49.0
40.7
40.8
49. 9
40.7
40.8
49.3
41.2
43.2
43.2
44.5 I
43.4 I
44.5 I
43.6
45.4
43.7
40.4
47.8
40.5 |
|
43.2 j
43.3
42.8
43.2
43.1
43.1
43.5
43.3
43.1
43.3
43.3
44.0
43.4
44.0
43.1
43.7
41.4
41.4
41.3
40.9
41.2
41.7
40.9
41.8
41.3
41.4
41.1
41.6
160
200
195
225
210
240
200
90
100
450
42
48
170
41.5
165
225 I
55
65
175
!
260
300
240
320
310
405
275
375
350 i
440 I
400
520
350 I
475 I
290
400
235
320
72
75
230
65
80
450
55
85
375
58
72
325
100
117
550
88
100
450
80
100
450 |
80
90
450
60
66
325
i 1, 602
1,280
800
4,559
1,567
511
4,398
1, 576
606
4, 254
1, 565
784
4, 280 I i 3, 254
1,656
1, 841
1,006
925
1, 403
982
1,213
1,398
1,267
1,531
i 1, 895
1,139
931
1,154
713
i 1, 678
1,384
727
1,315
725
948
3,977
3, 512
2, 970 i
3,159
3, 207
2,576
2,026
1,517
1,128
1,130
1,228
1,059
181
10, 750
803
43, 035
668
36,311
610
31, 704
553
30, 226
575
32, 625
543
28, 252
423
22, 395
310
16, 895
222
11, 574
193
11, 558
227
12,183
209
10,882
6.99
5. 36
.33
1.19
3.02
.82
7.12
6.12
.35
1.31
3.59
7. 29
6!54
38
1.43
3.77
96
8. 25
6.46
.38
1.21
3.85
1.02
8.28
6.73
.43
1.05
4.02
1.23
7.90
7.06
.42
.87
4.31
1.46
9.15
8.10
.44
.68
5.19
1.79
8.69
7.91
.45
.78
4.65
2.03
8.14
7.09
.43
.65
4.21
1.80
6.92
6.37
.46
.70
3.71
1.50
8.28
7.11
.52
.74
4.45
1.40
7.87
7.04
.50
.54
4.65
1.35
215.1
276. 2
226.6
221.4
287.2
230.5
228.
300. 0
236. 3
234. 5
312. 1
241. 5
242.
323. 9
245. 7
254.8
342.0
251.5
261.8
352.4
255. 4
270.9
366. 2
264.1
280.4
382.8
270.1
287.9
391.6
278.7
' 290. 9
399. 9
283. 5
297. 2
410.0
288.9
189.8
188.2
191. 7
192. 9
197. 2
196.6
199. 7
200.7
204.1
'203.8
'208.8 I
211.8
1
2,400
'•Revised.
§ Weekly average of number receiving benefits, based on an average of the weeks of unemployment compensated during weeks ended within the month.
i Not comparable with data prior to July 1942, owing to change in active file definition (see note 1 on p. S-ll of the December 1942 Survey). The July 1942 figure is also
not comparable with figures for later months, as data for July were not completely revised to the new basis.
1 Rates beginning January 1943 refer to all employees rather than to wage earners only and are therefore not strictly comparable with earlier data.
f Revised series. For revision in the Department of Labor's series on average weekly hours in all manufacturing industries see note marked " t " °n p. S-13. Indexes of
weekly wages (formerly designated pay rolls) in manufacturing industries have been completely revised, see note marked " t " on p . S-9; indexes for March 1943 are not as yet
.ries are on p. S-10 of the March 1943 Survey;
.onmanufacturing industries shown above will be
published in a later issue.
S-12
SUEVEY OF CURRENT BUSINESS
Monthly statistics through December 1941, together with explanatory notes and references
to the sources of the data, may be found in the
1942 Supplement to the Survey
1942
1943
March
May 1943
March
April
May
June
July
1943
August
September
October
Novem- December
ber
January
February
EMPLOYMENT CONDITIONS AND WAGES—Continued
P A Y ROLLS—Continued
Weekly wages, all manufacturing industries,
unadjusted (U. S. Dept. of Labor)!—Con.
Durable goods—Continued.
Electrical machinery
1939=100-Machinery, except electrical
do
Machinery and machine-shop products
1939=100-Automobiles
do
Transportation equipment, except automobiles
1939=100..
Nonferrous metals and products
do
Lumber and timber basic products...do
f Sawmills
do
Furniture and finished lumber products
1939=100-_
Furniture
do
Stone, clay, and glass products
do
Nondurable goods.'.
do
Textile-mill products and other fiber manufactures
1939=100 _.
Cotton manufactures, except small wares
1939=100 _.
Silk and rayon goods
do
Woolen and worsted manufactures (except dyeing and finishing) _. .1939=100-_
Apparel and other finished textile products
1939=100..
Men's clothing
do
Women's clothing
do
Leather and leather products
do
Boots and shoes
do
Food and kindred products
do
Baking
do
Canning and preserving
do
Slaughtering and meat packing
do
Tobacco manufactures
do
Paper and allied products
do
Paper and pulp
do
Printing, publishing, and allied industries
1939=100-_
Chemicals and allied products
do
Chemicals
do
Products of petroleum and coal
do
Petroleum refining
do
Rubber products
.
do
Rubber tires and inner tubes
do
Manufacturing, unadjusted, b y States and cities:
State:
California*
1940=100..
Delaware.....
1923-25=100
Illinois
1935-39=100..
Maryland
1929-31 = 100..
Massachusettst
1935-39=100 _
New Jersey
1923-25=100...
New York
.
1935-39=100
Ohio
_do
Pennsylvania .
1923-25 = 100Wisconsin
„
1925-27=100-.
City or industrial area:
Baltimore
...1929-31 = 100
Chicago
1935-39 = 100-.
Cleveland
.do
Los Angeles*
1940=100-.
Milwaukee
..1925-27=100
New Yorkf
.
1935-39=100..
Philadelphia
..1923-25=100..
Pittsburgh
do
San Francisco*
1940 = 100
Wilmington
1923-25 = 100..
Nonmanufacturing, unadjusted (U. S. Dept. of
Labor):
Mining: f
Anthracite
.
1939=100..
Bituminous coal
do
Metalliferous
do
Quarrying and nonmetallic
do
Crude petroleum and natural gas
do
Public utilities:f
Electric light and power
__..do
Street railways and busses
do
Telephone and telegraph
do
Services:!
Dyeing and cleaning
.
do
Power laundries
do
Year-round hotels
do
Trade:
Retail, total!
..do _ .
Food*
.
do
General merchandising!
do
Wholesale!
do
Water transportation*
do
466.1
315.4
249. 5
360.2
271.8
285. £
183.9
256.8
354.5
249.1
488.6
297.6
234.9
248.0
201.1
560. 4
319.2
296.3
307.8
303.6
315.4
310.0
325.8
317.2
337.9
325.7
339.1
343.9
352.6
368.6
352.3
382.7
371.5
402.8
381.5
415. 5
392.9
427.4
400.2
441.6
408.8
300.6
167.4
311.1
169.8
321.4
183.2
335.2
193.4
337.1
202.5
352.1
218.0
354.8
225.2
371.5
235.1
381.9
261.4
394. 6
255.1
402.1
277.9
410.6
282.2
I, 237.0
237. 5
165. 6
137.1
1, 370. 7
240.7
170.6
141.1
1,481.3
245.9
177.8
147.9
1, 585. 5
253. 0
190.2
158.9
1,753.2
260.0
189.4
157.4
1,920. 8
268.5
199.1
164.1
2, 053. 3
273.3
192.2
158.4
2,116.3
282.7
198.2
163.0
2, 275. 9
292.2
188.7
152.8
2, 348*. 0
303.2
181.9
' 144. 4
2,406. 0
307.2
166.9
r
130.9
2,486.5
308.6
177.3
138.7
161.7
156. 7
162. 2
155. 4
161.2
153. 4
165.3
157.0
162.7
156.6
168.9
159.0
161.3
153.1
167.6
157.1
149.8
163.2
163. 3
159. 8
154.3
169.6
169.5
158.1
154.1
168.4
173.3
168.2
164.5
178.9
177.7
165.0
158.2
179.2
180.3
170.6
163.9
181.2
' 186.4
165.9
159.8
178.5
' 184. 4
171.8
165.8
179.2
186.8
155.1
157.8
160.6
187.2
122. 3
190.1
127.2
196.1
127.8
171.2
177.1
184.0
158.7
161.1
195.9
128.2
186.9
162.0
166.3
166.8
173.0
175.4
180.8
181.8
180.7
193.0
126.2
202.2
126.9
208.2
126.5
210.6
130.8
212.8
131.3
217.7
133.7
' 215. 8
134.4
216.1
132.2
200.6
198.1
196.3
198.2
201.0
207.9
207.5
207.2
147.4
142.5
115.8
145.6
134.9
173.2
140.7
373.4
173.0
144.1
147.0
148.5
157.0
148. 4
127.1
149.2
134.5
164.4
143. 5
225.9
176.8
153.7
158.9
158.9
152.7
144.7
123.1
153.4 |
137.4
160.5
144.0
162.8
181.3
157.4
163.5
161.1
154.0
145.7
124.0
159.5
144. 5
165.4
149.3
138.2
213. 6
159.6
168.5
163.6
155.9
148.9
125.0
156.1
141.3
155.6
144.3
'117.6
202.9
147.0
167. 6
162.3
169.3
158.5
140.3
154.2
138.5
150.7
141.5
112.7
186.4
138.5
171.3
164.8
121.8
391.2
249.1
' 162. 8
'159.3
234.6
226.6
122. 5
399.2
251.4
165.3
152.2
238.3
229.1
436.5
292.8
233.6
357.1
267.3
281.0
264.5
300.0
176. 6
244.6
454.5
' 298.4
244.8
362.0
265.9
285.8
274.6
309.3
' 181. 3
252.6
161.5
157.9
136.8
156.7
148.5
125.3
119.3
85.6
149.0
119.4
156.9
159.2
156.8
155.9
128.3
154.8
146.1
126.5
119.0
91.8
151.4
124.7
154. 3
156.0
150.9
156.6
118.2
151.7
141.2
131.5
123. 6
94.7
158.3
124.6
152. 7
154.8
132. 9
143.6
92.3
148. 3
136.8
139.7
129.9
123.5
171.8
132.0
149.4
152.8
135.2
138.6
101.2
148.7
136.9
153. 7
135.2
213.7
175. 4
133.8
144.1
147.1
151.4
146.4
119.6
146.3
134.9
161. 6
138.5
206. 2
173.4
144.3
147.1
149.7
112.5
263.4
206. 7
145 4
132.9
156.5
135.5
111.8
282.1
210.6
144.9
131.8
149.9
135.3
111.0
295.6
217.5
147.1
132.7
157. 6
143.3
110.2
306.1
221.0
150.0
134. 7
164.5
151.1
110.0
317.2
' 224.6
154.0
137.6
176.3
166.8
110.2
326. 4
221.6
156.4
139.9
184.4
172.9
111.2
338.5
222.1
160.5
144.3
189.9
178.6
116.3
351.4
230.6
160.8 '
145. 7
201.9
190.0
122.4
365. 3
235.8
165.4
150.9
213.3
205.3
126.5
383.4
240.8
165.1
151.5
228.6
219.7
257.1
' 195. 3
194.3
r 260.0
207.8
219.2
216.4
223.3
' 147.3
188.1
273.3
202.7
195. 9
276. 7
209.7
224.2
218.0
227.4
148.9
191.3
294.7
218.9
198.6
279.5
215.5
230.0
219.4
233.5
151. 1
197.8
310.1
224.4
200.0
285.3
216. 6
230. 2
212.0
239.6
154. 6
206.4
339.5
239.9
201.2
307.0
223.9
234. 3
220.3
251. 5
155. 2
206.0
376.5
256. 9
210.3
310.1
229.4
243.0
229.8
255.3
160.3
216.0
397.5
270.8
210.3
322.3
235.9
255.4
239.9
261. 2
161.8
212.3
403.7
277.8
220.4
330.5
244.5
261.5
248.4
275. 0
168.2
228.7
421.0
294.7
223.7
339. 4
248.0
269.3
252.8
285.1
172.4
236. 5
430.3
288.2
233.1
335.0
257.4
276.3
261.1
* 294. 9
175.0
244.1
263.8
191.0
256. 5
281. 5
195.0
183.1
' 175.2
158. 4
251.3
' 175.4
281.3
192.5
263. 6
296.4
204.4
181. 4
179.2
159.5
277.0
178.1
282.2
193.5
273. 6
318.0
216. 2
175. 5
184.6
161. 8
307.5
190. 3
288.1
196.4
286.2
327.2
222.7
156.5
190. 3
165.4
329.5
196.0
305.1
200.1
295.1
344.0
229.2
165. 2
198.2
161.9
379.7
206. 6
310. 2
206.7
300.9
367.4
244.1
184. 3
205.2
168.4
434.7
244.6
320.6
209.0
306.0
378.4
247.0
192.3
212.1
171. 5
481.9
255.1
329.4
218.4
325.8
402.5
261.1
198.4
217.9
177.0
481.9
271.3
336. 2
223.0
339.0
426.3
271.3
200.7
226.9
181.2
516.3
288.9
333.1
231.9
' 345. 2
443.2
277. 2
203.6
230.8
186. 3
521.5
288.0
350.9
232.8
355.8
454.9
278.9
208.0
' 236. 6
' 189. 0
529.7
295.7
' 355. 6
244.7
373.0
474.4
292.3
220.7
' 243. 7
' 197. 6
549.9
' 301. 4
130.1
167.3
166. 8
141.4
102.7
114.2
169.7
166. 3
151. 0
103.6
131.6
175.2
16S. 8
163. 8
101.7
142.9
201.3
170. 4
169.2
103.2
117.2
161. 6
164.5
171.3
102.3
123.0
170.1
168.6
175.2
102.3
128.1
175.3
163. 0
175.4
106.4
123.4
179.0
163.8
179.1
105.1
125. 6
177.7
167.5
172. 5
104.3
128.4
183.7
166. 7
160.6
106. 8
101.2
178.6
163.8
151.0
104.2
154.4
196.2
166.3
150.3
107.1
113.0
121. 9
127.4
113.0
121.4
127.8
113.1
124.9
130.7
113.1
128.6
131.0
112. 9
130.9
131.8
112.3
134.9
133.2
112.0
134. 7
136.5
110.7
137.1
134.3
108.9
140.7
134.9
109.4
145.7
134.1
107.5
' 147. 3
137.0
104.5
150. 3
138.3
126.5
125. 6
112.8
144.2
130. 7
115.2
154.3
137.0
117.5
160. 5
138. 6
119.0
149.0
141.7
118.9
145.1
140.5
119.0
147.1
141.1
121.3
153.5
143.2
127.1
147.1
142.7
128.0
142.9
144.6
131.8
142. 8
147.6
129.8
143.8
145.4
131.2
114. 5
120.9
117.5
122.7
139.1
114.6
121.5
120.5
120.4
157.9
114.9
124.7
120.9
119.8
172.5
114.5
126.7
121.4
118.9
180.0
112.5
127.7
117.1
119.3
171.3
111.9
126. 8
116.8
119. 8
172.0
114.4
126. 6
125.2
120.6
189.5
118.4
128.1
135.4
123.6
203.3
121.6
128.5
145.6
125.8
225.0
131.5
127.7
181.7
124.6
225.0
115.3
125.7
129.1
122.3
231.4
115.0
126.4
126.2
124.3
257.8
T
' Revised.
tRevised series. Indexes of weekly wages (formerly designated pay rolls) in manufacturing industries have been completely revised; see note marked " ! " on p. S-9.
Earlier data for the revised pay-roll index for New York City not shown in the July 1942 Survey and subsequent issues, and for the Massachusetts index revised in this issue,
will be published later. Indexes of pay rolls in nonmanufacturing industries have been revised to a 1939 base and, in some instances, adjusted to 1939 Census data; revised
data beginning 1939 will be shown in a subsequent issue.
•New series. Data beginning January 1935 for the indexes of employment and pay rolls for California and the Los Angeles and San Francisco Bay industrial areas and
data beginning 1939 for the new series on employment and pay rolls for retail food establishments and for water transportation will be shown in a later issue; the latter covers
all personnel of active merchant vessels of 1,000 gross tons and over engaged in deep-sea trade.
S-13
SURVEY OF CURRENT BUSINESS
May 1943
Monthly statistics through December 1941, to- 1943
gether with explanatory notes and references
to the sources of the data. may be found in the March
1942 Supplement to the Survey
1943
1942
March
April
May
July
August
September
October
Novem- December
ber
January
February
EMPLOYMENT CONDITIONS AND WAGES—Continued
WAGES
Factory average weekly earnings:
Natl. Ind. Con. Bd. (25 industries) dollars
U.S. Dept. of Labor, all manufacturing!-do
Durable goods
_
_ do _
Iron and steel and their products .do _.
Blast furnaces, steel works, and rolling
mills
dollars. _
Electrical machinery
do
Machinery, except electrical
do. __
Machinery and machine-shop products
dollars .
Machine tools
do
Automobiles
._ _ _
. . __ do _ .
Transportation equipment, except automobiles . . .
dollars
Aircraft and parts (excluding engines)
dollars
Shipbuilding and boat building..do
Nonferrous metals and products . do
Lumber and timber basic products.do
Sawmills..
do
Furniture and finished lumber products
dollars
Furniture
do
Stone, clay, and glass products
do
Nondurable goods. ._
. . . . . do . . .
Textile-mill products and other fiber
manufactures . . .
_ dollars
Cotton manufactures, except small
wares . . . .
. dollars
Silk and rayon goods
do . . .
Woolen and worsted manufactures (except dyeing and finishing) dollars..
Apparel and other finished textile products
dollars..
Men's clothing..
do
Women4s clothing
._
do
Leather and leather products _
do
Boots and shoes
do
Food and kindred products
do
Baking
do
Canning and preserving
_
do
Slaughtering and meat packing..do
Tobacco manufactures
do
Paper and allied products
do
Paper and pulp
do
Printing and publishing and allied industries
dollars
Chemicals and allied products
.do
Chemicals
do
Products of petroleum and coal . do.
Petroleum refining
do
Rubber products
.do. . .
Rubber tires and inner tubes
do
Factory average hourly earnings:
Natl. Ind. Con. Bd. (25 industries)
do
U. S. Dept. of Labor, all manufacturingfdo.- _
Durable goods
do...
Iron and steel and their products.._do
Blast furnaces, steel works, and rolling
mills
dollars..
Electrical machinery. __ _
do._.
Machinery, except electrical
do
Machinery and machine-shop products
dollars. .
Machine tools
__ do
Automobiles
do
Transportation equipment, except automobiles
dollars..
Aircraft and parts (excluding engines)
dollars
Shipbuilding and boatbuilding...do
Nonferrous metals and products do
Lumber and timber basic products
dollars. .
Sawmills..
do
Furniture and finished lumber products
dollars .
Furniture
do
Stone, clay, and glass products
do
Nondurable goods.
do
Textile-mill products and other fiber
manufactures
dollars - _
Cotton manufactures, except small
wares
dollars..
Silk and rayon goods
do
Woolen and worsted manufactures (except dyeing and finishing).. dollars .
Apparel and other finished textile products
dollars. .
Men's clothing
do . .
Women's clothing .
_
do
38.14
34.62
40.46
39.32
38.68
35.10
40.95
39.44
39.00
35.82
41.81
40.15
39.52
36.25
42.26
40.42
39.80
36.43
42.51
40.16
40.87
37.38
43.84
41.56
41.79
37.80
44.45
42.14
42.10
38.89
45.31
43.45
42.50
39.78
46.27
44.20
42.98
40.27
46.28
' 44. 67
'43. 56
' 40. 62
' 46. 68
44.91
43.91
41.12
47.17
45.52
40.12
40.25
45.67
39.71
40 58
45.90
40.30
41.21
46.98
40.34
41.81
47.71
41.67
41.72
47.04
41.99
42.32
48.26
43. 21
43.65
47. 71
43.93
43.73
49.34
45.57
44.24
49.64
' 45.15
' 44. 32
' 50.15
' 46.16
' 44. 70
' 50. 69
46.57
44.70
51.09
44.75
51.43
51.35
45. 20
50 79
51.23
45.75
52.24
51.52
46.44
52 47
51. 55
48.09
51 41
50.98
47.04
52 12
52.72
46.95
50.72
52.26
48.30
52.32
52.97
48.65
53.18
54.65
49.28
53.73
54.51
49.84
53. 25
55.85
50.13
52. 86
55.67
49.96
50.65
51.02
50.80
51.86
53.17
54.22
53.34
55.49
54.25
r
53. 65
53.80
45.18
52.28
38.32
24.20
23 47
45 90
53.28
38 94
24.78
23 97
46.22
53.27
39.47
25.79
25. 05
46.67
52.73
40.32
27. 00
26 26
46.01
51.11
40.94
26.98
26 14
46. 24
56.82
41.80
28.30
27.33
46. 55
58.60
42.16
27.96
27.22
45.75
57. 54
43.43
29.52
28.69
46.53
60.67
44.15
28.58
27.44
47.08
58.09
44.99
' 28. 04
26.34
'
'
'
'
'
46. 94
57. 24
45. 30
27.10
25. 36
46.90
57.16
45.30
29.27
27.43
26.14
26.75
30.31
27.91
26 66
27.26
30.47
28 12
27.06
28.05
30.86
28.55
27 10
27.91
30.96
28.65
26 95
27.84
30.54
28.94
27.37
28.95
31.52
29.36
27.68
28.90
31.40
29.53
29.33
30. 50
33.52
30.66
29.34
30.05
33.53
31.25
30. 11
30.86
33. 86
32.08
29.68
30.31
' 34.15
r
32. 03
30.61
31.15
34.52
32.51
22.98
23.26
23.74
23.84
24.02
24 82
24.98
25.84
26.17
26.73
' 26. 85
27.06
20.92
22.74
21 05
23.40
21.67
23.28
21.63
23.24
21.32
22.98
22 37
23.62
23.12
24.69
23.39
25.31
23.62
25.46
24.04
25.88
' 24. 22
26.30
24.20
26.07
27.63
28.31
28.97
29.43
31.59
31.43
30.40
31.13
31.53
32.62
32.84
32.82
23.55
25.29
26. 12
26.32
25 32
28 77
29.48
21 35
31.04
19.87
30.29
33.50
23.28
25 04
25.09
26.37
25 21
28 89
29.52
21 52
31.49
21 09
29.98
32.84
22.82
25.31
23.87
26.06
24 84
29 65
30.45
21 56
31.87
21 53
30.24
32.94
21.56
24 06
21.42
25.83
24 48
30 17
31.34
22 19
32.86
22 37
30.13
33.14
21.76
23.92
23.28
25.91
24 71
30 17
31.43
24 13
32.61
22 43
30.19
33.09
22. 95
24 70
26.38
26.23
24 89
29 65
31.69
23 14
32.40
23 42
31.19
34.18
22. 51
24.18
25.67
25.76
25 93
29.89
31.72
24.88
32.62
23.04
31.29
34.10
24.17
25. 56
28.17
27.58
26 03
30.97
31.90
25.34
34.02
24.32
33.46
36.59
23.97
25. 66
27.48
27.79
25 97
31.84
32.32
25.57
34.52
24.82
34.01
37.18
24.27
25.70
27.60
28.98
27.52
33.41
33.46
25.92
"38. 46
25.26
34.62
37.83
24.49
26.39
27.77
28.90
27.50
' 33.18
33.35
' 26.42
36.62
24.07
34.21
37.19
26.10
27.79
30.67
28.70
27.18
33. 20
33.55
27.16
35.33
23.24
34.75
37.93
36 52
34.10
39.52
39.94
42.57
36.31
42.27
36 00
34.98
39.97
39 55
41.97
35 93
42.55
36 04
36 12
41.07
39 92
42.07
37.76
44. 05
36 21
36.72
41.21
40 05
42.18
38 22
44.42
36 06
37.32
42.01
40.73
43.00
39.05
46.08
36 06
37.76
41.73
41 63
43.58
39 47
46.10
36.67
37.62
41.70
42.98
45.19
39.31
45.80
37.51
37.74
43.38
43.80
46.56
40.39
46.55
38.56
38.10
44.18
45.61
48.80
41.48
48.45
39.40
' 39. 25
44.86
' 45. 65
' 48. 91
42.99
49.93
38.65
39.38
45.55
45.42
48. 38
43. 25
50. 53
38.61
39.92
45.60
46.61
49.51
46.62
50.93
.888
.811
.899
.904
.896
822
.912
.915
.906
835
.925
.923
.917
845
935
.927
.928
856
.949
.934
.940
870
.969
.951
.957
.892
.997
.980
.958
.893
.990
.979
.966
.905
1.005
.984
.970
.907
1.004
.986
'.979
' . 919
' 1.017
.998
.982
.924
1.021
.996
.997
.875
.919
1.003
884
.931
1.007
.892
.949
1.008
901
.960
1.013
.907
.964
1.038
912
.977
1.077
.949
.994
1.073
.936
.997
1.081
.942
1.003
' 1. 086
'.943
1.011
' 1.103
'.951
'1.022
1.094
.953
1.030
.901
943
1.154
.922
944
1 146
.934
965
1.163
.944
974
1 161
.949
975
1.164
.963
987
1.169
.979
.990
1.185
.983
.998
1.172
.986
1.007
1.202
.991
1.013
1.198
1.003
1.014
1.222
1.014
1.023
1.205
1.043
1.053
1.063
1.065
1.094
1.124
1.161
1.132
1.163
1.142
' 1.144
1.152
956
1.078
869
971
1.083
881
983
1.091
.893
993
1.088
904
991
1.138
.920
993
1.193
.933
1.011
1.247
.956
.991
1.208
.956
.997
1.264
.959
1.002
1.220
.976
'1.010
' 1.216
r
.987
1.020
1.224
.989
.605
594
.618
606
.632
620
.657
645
.658
647
.677
663
.682
671
.694
684
.685
670
r
'.681
.658
.702
.667
.636
655
.752
696
.647
667
.758
703
.652
677
.762
.712
.653
673
.772
718
.651
.673
.779
.725
.661
.682
.786
.730
.675
.700
.799
.743
.685
.707
.812
.751
.685
.703
.810
.756
.689
.706
.810
.762
.695
.709
'.819
.768
.702
.719
.822
.774
.573
.580
.589
.593
.602
.616
.634
.639
.642
.644
'.650
.652
.511
561
.514
578
.528
575
.528
572
.528
.577
.549
.590
.575
.611
.576
.615
.577
.619
.578
.619
.582
.639
.583
.627
'•.679
.660
r
'
'
'
'
.700
.710
.715
.729
.769
.774
.779
.783
.789
.789
.789
.795
.628
.670
.655
.624
.671
.638
.620
.687
.608
.609
.682
.581
.620
.683
.617
.634
.697
.631
.645
.701
.647
.652
.702
.663
.648
.705
.651
.649
.707
.651
.660
.729
.650
.685
.736
.703
' Revised.
tRevised series. The Department of Labor's series on hourly earnings and hours per week (p. S-ll) in manufacturing industries have been revised and differ from those
published prior to the March 1943 Survey owing to the inclusion of additional data for industries not heretofore covered and extensive corrections, on the basis of Census and
Social Security data, in the employment estimates of the Bureau which are used for weighting purposes. The series of average weekly earnings has been recomputed; for
all manufacturing, durable goods, nondurable goods, and the industry groups averages are obtained by taking the product of the averages of hourly earnings and hours worked
per week. The industry classifications have been revised for all series to agree with definitions of the 1939 Census of Manufactures and the Standard Industrial Classification
Manual. For January and February 1942 data, see March 1943 Survey; comparable earlier data will be published in a subsequent issue.
S-14
SURVEY OF CUEEENT BUSINESS
Monthly statistics through December 1941, to- 1943
gether with explanatory notes and references
to the sources of the data, may be found in the March
1942 Supplement to the Survey
May 1943
1943
March
April
May
June
July
1943
August
September
October
Novem- December
ber
January
February
EMPLOYMENT CONDITIONS AND WAGES—Continued
WAGES-Continued
Factory average hourly earnings—Continued.
U. S. Dept. of Labor, all mfg.-j—Continued.
Nondurable goods—Continued.
Leather and leather products
dollars._
Boots and shoes
do
Food and kindred products
do
Baking
do
Canning and preserving
do
Slaughtering and meat packing..do
Tobacco manufactures
do
Paper and allied products._
__-do
Paper and pulp
do
Printing and publishing and allied industries
dollars - Chemicals and allied products
do
Chemicals
do
Products of petroleum and coal
do
Petroleum refining
do
Rubber products
do
Rubber tires and inner tubes
do
Factory average weekly earnings, by States:
Delaware
1923-25 = 100-Illinois
1935-39 = 100-.
Massachusetts!
1935-39=100-.
New Jersey.1923-25 = 100-New York
1935-39=100-Pennsylvania
_. . .
1923-25=100-Wisconsin
1925-27= 100..
Nonmanufacturing industries, average hourly
earnings (U. S. Dept. of Labor):*
Building construction
dollars - Mining:
Anthracite
do
Bituminous coal
do
Metalliferous
do
Quarrying and nonmetallic
do
Crude petroleum and natural gas
do
Public utilities:
Electric light and power
do
Street railways and busses
do
Telephone and telegraph
do
Services:
Dyeing and cleaning
do
Power laundries
do
Trade:
Retail
do
Wholesale
do
Miscellaneous wage data:
Construction wage rates (E. N. R.):l
Common labor
dol. per hour...
Skilled labor
do
Farm wages without board (quarterly)
dol. per month-.
Railway wages (avg., class I) __dol. per hour
Road-building wages, common labor:
United States, average
do
East North Central
do
East South Central
do
Middle Atlantic
do....
Mountain
do
New England
do
Pacific
do
South Atlantic
do
West North Central
do
West South Central
do
PUBLIC ASSISTANCE
i
164.2
170.1
186.7
177.9
177.0
174.7
r.842
1.61
.62
.87
.52
.84
.90
.87
1.02
.52
.71
.50
0.658
.633
.707
.698
.595
.791
.543
.716
.769
0.671
.649
.715
.706
.613
.800
.561
.719
.769
0.675
.650
.725
.717
.617
.800
.571
.727
0.678
.652
.727
.731
.599
.806
.581
.742
.797
0.680
.654
.720
.738
.601
.801
.581
.751
0.683
.657
.718
.732
.611
.807
.593
.757
.814
0.702
.677
.715
.733
.612
.813
.597
.767
.825
0.708
.683
.744
.740
.664
.821
.602
.771
0.713
.683
.751
.749
.671
.823
.611
.772
.831
0.719
.692
.761
.758
'.674
.839
.613
.771
.829
0.717
.687
'.768
.764
'.678
.831
.611
.774
0.714
.682
.772
.768
.681
.835
.602
.781
.836
.961
.810
.963
1.024
1.104
.890
1.080
.940
.823
.974
1.022
1.103
.896
1.084
.946
.846
.990
1.021
1.098
.912
1.096
.953
1.027
1,102
.921
1.103
.949
.872
1.004
1.039
1.114
.932
1.107
.949
.876
1.001
1.054
1.130
.933
1.105
.960
.881
1.014
1.088
1.165
.945
1.114
.973
.866
1.019
1.081
1.160
.947
1.115
.976
.867
1.027
1.093
1.174
.955
1.125
.980
.878
1.032
1.092
1.176
.966
1.130
'.971
.885
1.032
1.105
r 1. 182
.972
1.139
.970
.887
1.034
1.102
1.175
.978
1.133
r 134. 9
141.8
155.2
175.4
148.8
150.2
147.7
137.2
144.0
155.8
177.7
150.1
151.3
147.7
142.0
147.9
160.4
180.5
152.4
153.6
150.8
139.9
148.9
161.7
180.9
152.1
155.4
154.9
146.3
148.4
166.6
184.0
154.8
155.4
152.1
145.0
150.9
169.1
184.7
157.0
159.8
157.8
150.9
151.3
172.9
190.1
160.3
161.9
153.1
157.4
156.7
176.2
194.5
163.3
166.9
162.0
159.4
159.8
176.7
198.8
164.7
169.7
164.9
153.6
163.3
180.2
202.2
167.6
171.6
168.2
157.6
163.2
184.9
204.2
169.6
172.3
168.6
' 157. 9
168.0
183.7
204.8
173.4
' 175. 1
172.6
1.094
1.105
1.137
1.136
1.157
1.174
1.201
1.198
1.209
1.230
1.240
1.240
1.062
.995
1.058
.991
1.060
.982
1.086
1.053
.992
1.061
1.065
1.070
.693
.991
.693
.982
.707
.994
.697
.988
.709
.995
.727
1.020
.738
1.037
.744
1.039
.993
1.073
.926
.750
1.066
1.003
1.085
.931
.757
1.057
1.011
1.086
.941
.750
1.054
1.069
1.105
.947
.749
1.074
.795
.796
.824
.972
.800
.828
.809
.824
.976
.818
.818
.993
.829
.819
1.005
.836
.829
1.004
.840
.833
1.027
.847
.835
1.023
.856
.835
1.023
.852
.840
1.019
.843
.844
.540
.471
.559
.478
.570
.486
.572
.481
.572
.482
.580
.487
.588
.496
.601
.502
.608
.510
.601
.513
.624
.524
.617
.517
.843
.852
.850
.862
.870
.878
.879
.893
.609
.884
.645
.843
.650
.911
.780
1.54
1.54
.788
1.54
.796
1.55
.803
1.56
.823
1.59
.823
1.59
.826
1.59
.832
1.60
.832
1.60
.832
1.61
.832
1.61
.835
.826
56.97
.825
.839
59.25
.832
.850
.845
62.43
.850
.860
.56
.71
.42
.61
.68
.64
.92
.46
.57
.43
.59
.75
.41
.69
.71
.69
.95
.48
.60
.41
.72
.82
.70
1.04
.52
.72
.47
.66
. 83
.47
.75
.87
.75
1.06
.54
.77
.46
.67
.88
.46
.82
.88
.80
1.02
.56
.69
.48
.63
.89
.47
.84
.95
.81
1.03
.52
.66
.49
101
96
.840
50.54 I.
.834 |
.47
.68
.37
.57
.62
.52
.82
.37
.52
.42
.49
.65
.37
.64
.63
.62
.89
.40
.52
.44
159
150
64
48
19
64
48
17
.53
.67
.41
.60
.68
.65 I
.90 :
.43 |
. 55 '
.42 !
.61
.76
.43
.66
.77
.65
.97
.50
.60
.46
.63
.77
.46
.64
.74
.66
1.08
.50
.66
.44
110
105
101 |
65
50
13
66 !
52 !
12 i
.61
.91
.49
.79
.86
.82
1.03
.52
. 75
.49
j
Total public assistance and earnings of persons j
employed under Federal work programs! j
mil. of dol_ . L.
Old-age assistance, and aid to dependent j
children and the blind, total-.mil. of dol.. _ j
Old-age assistance
do
!
General relief
do
!
136
I
64 I
49 i
15 i
64
49
14
65
50
14
65
50 !
13 !
|
67 i
52 !
12
67 j
52
11 I
66
52
10
FINANCE
BANKING
Acceptances and com'l paper outstanding:
Bankers' acceptances, total
mil. of dol
183
130
177
163
156
139
119
116
118
120
174 ;
123
127
Held by accepting banks, total
do
139
146
101
102
133
122
119
108
97
94
90
93
95
Own bills
do
62
89
71
86
77
63
61
60
60
64
82 !
78
64
Bills bought
do
38
39
57
53
51 I
44
42
37
33
31
29
34
35
Held by others*
do
29
37
25
25
24
25
38
41
41
38
26
31
26
Commercial paper outstanding
do
209
384
373
354 I
305
261
201
230
220
315
297
282
271
' Revised.
•None held by Federal Reserve banks.
URates as of Apr. 1: Common labor, $0,858; skilled labor, $1.61; farm wages without board, $67.21.
§Includes earnings of persons employed under Federal emergency work programs shown separately in the April 1943 and earlier issues; for the most part, these programs
have been liquidated or are in liquidation. The series on earnings on regular Federal construction projects formerly shown along with the public assistance data (though
not included in the total) has been dropped from the Survey; this series was originally included because of the interrelation of employment on emergency projects and on regular Federal work and construction projects, which were greatly expanded in depression years, and to provide a complete record of Federal work programs. In recent years,
however, the regular Federal projects have largely represented war construction; the data were in large part duplicated in employment series shown elsewhere.
t Revised scries. The index of weekly earnings in Massachusetts has been revised to a new base; earlier data will be shown later.
*New series. Data beginning 1939 for the Department of Labor's series of hourly earnings in nonmanufacturing industries will be published later. Data for building construction, the mining industries, dyeing and cleaning plants, and power laundries relate to wage earners only; for crude petroleum and natural gas the clerical field force is
included; for the public utilities, all employees except corporation officers and executives are included; and for the trade groups, all employees except corporation officers,
executives, and other employees whose duties are mainly supervisory.
May 1943
Monthly statistics through December 1941, together with explanatory notes and references
to the sources of the data, may be found i n the
1942 Supplement to the Survey
S-15
SURVEY OF CURRENT BUSINESS
1942
1943
March
April
March
June
May
July
1943
August
i
FINANCE—Continued
September
October
Novem- December
ber
January
February
BANKING—Continued
Agricultural loans outstanding of agencies
supervised b y t h e F a r m Credit A d m . :
Total, excl. joint-stock land bks
mil. of dol_
F a r m mortgage loans, total
do
Federal land banks
do
L a n d Bank Commissioner
do
Loans to cooperatives, total
do
Banks for cooperatives, including central
bank
mil. of dol.
Agr. M k t g . Act revolving fund
do
Short term credit, total
do
Federal intermediate credit banks, loans
to and discounts for:
Regional agricultural credit corps.,
prod, credit ass'ns, a n d banks for
cooperatives d1
mil. of doL
Other financing institutions
do
Production credit associations
do
Regional agr. credit corporations
do
Emergency crop loans
do
Drought relief loans
do
Joint-stock land banks, in liquidation.-do
Bank debits, total (141 centers)
do
New York City
do
Outside New York C i t y
do
Federal Reserve banks, condition, end of mo.:
Assets, total
mil. of doL
Res. bank credit outstanding, total- _-do
Bills discounted
do
United States securities
do
Reserves, total
do
Gold certificates
do
Liabilities, total
do
Deposits, total
do
Member bank reserve balances
do
Excess reserves (estimated)
do
Federal Reserve notes in circulation ,do
Reserve ratio
percentFederal Reserve reporting member banks, condition, Wednesday nearest end of m o n t h :
Deposits:
Demand, adjusted
mil. of d o L .
Demand, except interbank:
Individuals, partnerships, a n d corporations
mil. of doL_
States and political subdivisions
do
United States Government
do
Time, except interbank, total
do
Individuals, partnerships, a n d corporations
mil. of d o L .
States and political subdivisions _-do
Interbank, domestic
do
Investments, total
do
U . S . Gov't direct obligations, total--do
Bills
do--.
Certificates
do
Bonds
do
Notes
do
Obligations guaranteed b y U . S. Government
mil. of doL
Other securities
--do
Loans, total
do
Commerc'l, indust'l, and agricult'l . - d o
Open market paper
do
T o brokers and dealers in securities.,-do
Other loans for purchasing or carrying
securities
mil. of doL.
Real estate loans
do
Loans to banks
do
Other loans
do
Money and interest rates:§
B a n k rates to customers:
New York City
percent..
7 other northern and eastern cities
do
11 southern and western cities
do
Discount rate (N. Y. F . R. Bank)
do___.
Federal land bank loans
do
Federal intermediate credit bank loans.do
Open market rates, New York City:
Prevailing rate:
i
Acceptances, prime, bankers, 90 days
j
percent.-j
Com'1 paper, prime, 4-6 months
do
I
Time loans, 90 days (N. Y. S. E . ) ~ d o
|
Average rate:.
I
Call loans., renewal (N. Y . S. E.).._do
|
U . S . Treasury bills, 3-mo
do
j
Average yield, U. S. Treasury notes, 3-5 yrs.:|
Taxable*
percent--!
Savings deposits:
j
Savings banks in New York State:
i
Amount due depositors
mil. of doL_
U . S . Postal Savings:
j
Balance to credit of depositors
do
j
Balance on deposits in banks
do
!
r
2,582
2,023
1,540
483
124
2,876
2,311
1,731
580
125
2,887
2,296
1,721
575
121
2, 869
2, 288
1, 715
572
114
2,864
2,274
1,706
568
115
117
2,818
2,232
1, 679
553
117
111
11
434
106
16
440
102
16
470
99
13
468
101
13
475
104
12
477
275
40
217
14
121
43
18
57,100
22, 373
34,727
247
43
219
4
127
47
30
44,820
17,056
27, 764
258
44
245
4
130
47
29
42,474
16,023
26, 451
257
45
241
4
131
47
28
44, 226
16, 985
27, 241
260
47
248
4
129
47
27
45, 686
17, 394
28, 292
28, 347
5,945
13
5,919
20, 785
20, 413
28, 347
13, 981
12, 759
1,520
12, 758
77.7
24,187
2,355
9
F2, 244
20, 821
20, 495
24,187
14, 268
12, 575
3,073
8,635
90.9
24, 359
2,468
7
2,357
20,824
20, 510
24,359
14, 204
12, 658
2,791
8,821
90.4
24,468
2,634
7
2,489
20, 799
20, 522
24, 468
14, 094
12,405
2,486
9,071
89.8
31,848
24,197
25,358
25,483
31,815
1,913
2,266
5,479
23,673
1,916
1, 869
5,137
24, 636
2,096
1,506
5,128
24,922
1,971
1,301
5,109
5,361
89
9,194
31,935
26,756
4,953
164
8,885
19.100
12, 705
680
4.929
189
8,687
20,111
13,730
r 1,058
611
9,705
2,356
3,755
4,983
13,821
4,197
9,671
2-, 354
2,776
2,207
1, 663
544
126
2,733
2,179
1,645
534
145
2,696
2,148
1,625
523
155
2,659
2,115
1,603
512
159
2,608
2,080
1,579
501
146
2,590
2,057
1,564
494
135
104
12
469
112
12
443
130
13
409
140
13
392
145
13
384
132
12
382
121
12
398
261
47
249
5
130
46
26
45, 615
17,110
28, 505
255
47
243
5
128
46
26
44, 898
17,051
27, 847
249
43
225
5
124
46
125
48,123
18, 593
29, 530
246
39
202
5
118
45
124
49, 950
18, 323
31, 627
253
38
190
5
114
45
23
46, 056
17,016
29,040
273
39
185
4
113
44
21
59, 483
23, 921
35, 562
265
38
185
3
113
44
20
50,140
19,877
30, 263
267
39
197
3
117
43
20
47, 640
19, 635
28,005
24, 672
2,775
3
2, 645
20,830
20, 566
24, 672
13,957
12, 305
2,362
9,376
89.3
25,139
3,245
4
3,153
20, 802
20, 546
25,139
14,159
12, 492
2,130
9,721
87.1
25, 298
3,565
7
3,426
20, 803
20, 575
25, 298
13, 952
12, 338
2,143
10,157
86.3
25, 754
3,774
8
3,567
20, 808
20, 576
25, 754
13, 660
11, 592
1,690
10, 658
85.6
26,953
4,959
11
4,667
20, 813
20, 569
26, 953
14, 313
12, 735
2,644
11, 220
81.5
27, 748
5,714
7
5,399
20, 799
20, 573
27, 748
14, 534
13,208
2,909
11, 756
79.1
29,019
6,679
6
6,189
20,908
20, 554
29,019
15,194
28, 555
6,339
14
5,969
20, 931
20, 520
28, 556
14, 805
13, 630
2,387
12, 265
77.3
28, 515
6,296
16
5,871
20,859
20,476
28, 515
14, 308
13, 067
1,925
12, 627
77.4
25, 502
26,670
27,217
27,424
28,639
28, 257 29, 743
31,305
25, 343
1,803
1,442
5,112
26,236
1,811
1,782
5,115
26,818
1,806
1,511
5,158
27, 344
1,909
2,018
5,285
28,345
1,947
2,696
5,215
28,733
1,867
3,092
5,228
28,709
1,759
6,757
5,256
29,434
1,888
5, 245
5,408
31,162
1,858
2,964
5,467
4,914
175
9,175
20, 774
14,559
' 1, 281
672
10, 309
2,297
4,955
137
9,090
21, 642
16,200
r
1,447
1,471
10,383
2,899
4.975
120
8,444
22,816
17, 352
r
1.921
l|455
11,118
2,858
5,019
115
8, 681
24,075
18,493
' 2, 245
2,267
11,228
2,753
5,038
121
8,527
25, 593
19, 948
' 2, 337
3,029
11,257
3,325
5,087
102
8,898
27,229
21,879
'2,811
2,945
11, 725
4,398
5,102
100
9,454
28,092
22,874
' 3, 570
3,429
11,634
4,241
5,130
100
9,141
31,148
25,898
r 3, 786
4,958
12,985
4,169
5,268
112
9,197
31,918
26,740
r 4,476
5,059
13,117
4,088
5,333
105
9,509
31,953
26,738
' 4,244
5,001
13, 394
4,099
2,095
3,487
10,382
6,282
313
493
2,106
3,539
10,361
6,270
282
526
1,907
3,443
10, 320
6,316
265
529
1,934
3,284
10,295
6,192
248
700
1,937
3,313
10, 321
6,065
239
850
1,908
3,270
9,790
5,902
229
637
1.919
3,296
9,517
5,736
227
585
' 381
1,230
26
1,657
381
1,221
65
1,616
369
1,217
46
1,578
389
1,207
22
1,537
382
1,199
53
1, 533
358
1,184
46
1.434
342
1,176
57
1,394
2.66
3.25
1.00
4.00
1.50
1.00
4.00
1.50
1.00 !
4.00 I
1.50 j
1.00
4.00
1.50
1.00
4.00
1.50
1.00
4.00
1.50
.44
.69
1.25
.44
.69
1.25
.44
.69
1.25
.44
.69
1.25
.44
.69
1.25
.44
.69
1.25
1.00
.372
1.00
.371
1.00
.303
1.00
.367
1.00
.372
1.28
1.34
5,570
I
' 2,846
' 2, 252
r 1, 692
-•560
1,940
3,229
9,456
5, 695
217
617
2,684
3,711
11,394
7,003
424
2,675
3, 706
11,094
6,726
409
441
2,667
3,548
10,905
6,542
382
528
2,032
3,410
10,740
6,469
341
519
2,035
3,429
10, 696
6,432
336
569
344
1,162
54
1,367
407
1,245
29
1,878
395
1,246
30
1,847
403
1, 243
28
1, 779
393
236
36
1 746
407
1,230
29
1,693
2.36
2.76
P3.25
1.00
4.00
1.50
1.85
.07
3.20
1.00
4.00
1.50
1.00
4.00
1.50
1.00 i
4.00 I
1.50 !
3.34 !_
1.00 i
4.00 ]
1.50
1.00
4.00
1.50
1.00
4.00
1.50
.44
.69
1.25
.44
.63
1.25
.44
.63
1.25
.44
.63 !
1.25 j
.44
.69
1.25
.44 i
.69 !
1.25 |
.44 j
.69
1.25 I
1.00
.373
1.00
. 212
1.00
.299
1.00 ;
.364 :
1.00
. 363
1.00 !
.368
1.00
.370
1.00
.370
1.33
.93
.98
1.03
1.15
1.20 !
1.25
1.27
5,663
5,392
5,373 !
5,374 |
5,422
1,492
14
!.56
1,305
25
1, 306 !
•
25 I
1, 307
24
1,316
24
5,411
1,329 !
21 !
5,427 I
1,344
20 I
13,117
1,988
12,193
76.3
:, 852
2.09
5.63
3 26
S -
5,449'
5,459 j
5,492!
1,358 i
19
1,377
18
1,396 i ' I , 417 I
17 !
r IG |
1.24
r
5,594 1
5,622
1,445
1,409
15
Revised
p Preliminary
Amount estimated for 1 bank.
cPTo avoid duplication these loans are excluded from the totals.
§For bond yields see p . S-20.
* New series. Earlier data for the series on taxable Treasury notes appear on p . S-14 of the April 1942 Survey; there were no tax-exempt notes outstanding within t h e
m a t u r i t y range after M a r . 15, 1942.
1
S-16
SURVEY OF CURRENT BUSINESS
Monthly statistics through December 1941, to- 1943
gether with explanatory notes and references
to the sources of the data, may be found in the March
1942 Supplement to the Survey
Mav 1943
1943
1942
March
April
May
June
July
August
September
October
Novem- December
ber
Janu- 1 February ; ary
FINANCE—Continued
CONSUMER SHORT-TERM CREDIT
Total consumer short-term debt, end of month*
mil. of doL.
Instalment debt:
Sale debt, total*
do
Automobile dealers*
do
Department stores and mail order
houses*
mil. of doL.
Furniture stores*
do
Household appliance stores*
do
Jewelry stores*
do
All other*
do
Cash loan debt, total*
do
Commercial banks, debt*
do
Credit unions:
Debt§
__do.-_.
Loans made
do
Repayments!
do
Industrial banking companies:
Debt
do___.
Loans made
do
Repayments
do
Personal finance companies:
Debt
do....
Loans made
do
Repayments
do
Repair and modernization debt* do
Miscellaneous debt*
do
Charge account sale debt*
do
Open credit cash debt*
do
Service debt*
do
Indexes of total consumer short-term debt, end
of month:*
Unadjusted
. . . . 1935-39 = 100..
Adjusted
do
8,334 | 7,961
7,547
7,096
6,761
6,559
6, 337
6,169
6,156
'•5,705 I
5,493
3,104
1,513
2,919
1,369
2,706
1,239
2,475
1,120
2,248
1,004
1,862
1, 704
664
1,571
573
312
396
561
258
91
244
1,967
586
367
543
240
85
231
1,908
564
332
512
219
79
213
1,858
546
300
475
202
71
196
1,789
521
460
253
408
154
61
164
551
1,
421
247
392
141
61
157
1,483
393
1,495
482
254
391
130
78
160
1,428
370
r 1, 317
404
228
'359
116
66
144
1,346
345
1,193
351
406
567
272
95
251
2,005
601
2,032
874
277
449
183
67
182
1,716
491
127
22
21
196
25
27
190
19
25
184
18
24
179
20
25
173
18
24
166
16
23
160
16
22
152
14
22
145
14
21
141
18
22
132
11
20
126
13
19
184
38
39
282
42
45
277
37
42
268
34
43
261
36
43
253
34
42
246
33
40
236
31
41
222
30
44
211
25
202
31
40
193
25
34
185
26
34
387
86
521
85
85
304
101
1,680
1,186
616
517
71
75
297
100
1,660
1,171
617
504
58
71
289
99
1,575
1,151
621
493
68
79
281
98
1,466
1,125
623
481
63
75
264
97
1,322
1.112
625
466
60
75
252
95
1,285
1,102
626
452
60
74
240
94
628
437
59
74
227
92
1 365
1 088
629
428
59
68
215
91
1,386
1,085
644
424
82
86
200
91
1,513
1,072
648
403
45
66
184
89
r 1,333
1,058
651
387
50
66
170
88
1,333
1,038
654
'143
144
138
139
132
132
125
125
118
119
112
114
109
110
105
105
102
102
102
1,048
48
77
188
6
4
43
7
8
25
10
24
4
36
3
18
650
85
12,011
1,194
896
3,739
299
22
1,102
166
204
390
191
493
124
427
25
296
4,813
1,369
938
38
65
146
4
8
36
4
5
15
2
18
3
29
3
19
624
65
9,282
335
1,033
2,953
48
156
936
64
53
263
58
429
98
316
204
328
3,829
1,132
955
42
63
134
7
5
17
3
4
20
5
20
3
20
5
25
647
69
9,839
471
1,175
2,924
234
49
622
95
69
246
63
562
39
623
48
274
4,392
877
804
48
67
135
1
4
23
5
6
18
11
18
7
23
2
17
486
68
9,906
673
945
3,327
222
118
632
99
63
829
300
403
124
180
78
279
3, 752
1,209
764
52
63
120
5
5
19
8
3
11
5
20
5
24
1
14
465
64
8,548
915
584
2,078
85
177
265
161
18
191
156
224
129
486
9
177
3, 950
1,021
698
47
66
119
5
5
23
5
4
10
8
12
5
20
2
20
405
61
6,781
538
520
2,249
237
33
421
76
50
207
163
341
53
262
22
384
2,475
999
556
27
54
77
5
4
5
2
2
10
5
11
5
15
0
13
355
43
585
27
63
98
4
5
10
5
2
18
2
16
3
16
2
15
352
45
5,245
267
717
1,823
198
64
176
297
49
185
12
132
62
467
17
164
2,009
429
506
22
47
86
2
3
11
4
3
11
4
12
4
19
3
10
307
44
6,950
526
1,189
1,997
7
12
195
120
40
272
288
77
49
216
525
196
2,392
846
8,591 I
769
261
428
169
63
172
1,642
1,336
1,095
r
210
338
103
58
133
1,275
319
91
INDUSTRIAL AND COMMERCIAL
FAILURES
Grand total
number,.
Commercial service, total
do
Construction, total
do
Manufacturing and mining, total
do
Mining (coal, oil, miscellaneous)
do
Chemicals and allied products.'.
do
Food and kindred products
do
Iron and steel products
do
Leather and leather products
do
Lumber and products
do
Machinery
do
Paper, printing, and publishing
do
Stone, clay, and glass products
do
Textile-mill products and apparel
do
Transportation equipment
do
Miscellaneous
do
Retail trade, total
do
Wholesale trade, total
do
Liabilities, grand total
thous. of dol..
Commercial service, total
do
Construction, total
do
Manufacturing and mining, total
do
Mining (coal, oil, miscellaneous)
do
Chemicals and allied products
do
Food and kindred products
do
Iron and steel and products
do
Leather and leather products
do
Lumber and products
do
Machinery
do
Paper, printing, and publishing
do
Stone, clay, and glass products
do
Textile-mill products and apparel
do
Treasportation equipment
do
Miscellaneous
do
Retail trade, total
do
Wholesale trade, total
do
410
23
41
79
2
4
8
4
1
12
7
10
4
16
1
10
232
35
7,282
305
903
4,144
100
52
169
97
20
368
2, 441
165
76
162
244
250
1,540
390
268
646
673
40
61
102
0
7
17
1
3
9
7
13
3
20
4
18
405
65
7 181
525
756
1,661
2, 374
519
28
90
17
29
217
131
110
100
0
146
352
7
21
81
69
580
125
0
140
2,276
622
170
195
2,660
866
5,473
458
28
53
79
2
4
14
2
1
11
5
14
1
16
267
31
5,515
396
698
2,249
206
34
469
105
52
139
333
498
4
252
42
115
1,800
372
422
28
38
67
3
2
9
2
10
255
34
4,163
331
379
1,342
69
44
195
132
97
128
269
107
45
79
54
123
1,782
329
LIFE INSURANCE
Association of Life Insurance Presidents:
27, 209 27, 341 27, 462 27, 598 27, 725 27, 909 28, 083 28, 236 28, 394 28, 572
Assets, admitted, total!
mil.ofdol
5,223
5,224
5,230
5,225
5,220
5,105
5,134
5,164
Mortgage loans, total
.do
5,212
5,194
661
667
675
680
685
681
684
685
Farm
. _.. '
.
.do.
687
688
4,562 i
4,557
4,555
4, 545
4,535
4,424
4, 450
4,479
Other
do.
4,525
4,506
1, 302
1,308
1, 356
1, 370
1,382
1,436
1,423
1,410
1, 392
Real-estate holdings
do
1.400
2,068
2,045
2,092
2,110
2,129
2,202
2,188
2,176
2,144
2,158
Policy loans and premium notes
do
Bonds and stocks held (book value), total
16, 944 17, 391 17, 431 17, 415 17, 843 17, 905 17, 904 17, 882 18, 641 18, 672
mil. of dol.
9,797
8,929
9,756
8,938
8,908
8,014
8, 453
Gov't. (domestic and foreign), total, do
8,443
8,453
8, 888
8,089
7,196
8,060
7, 204
7,132
6, 595
6, 592
U. S. Government
1
do
7,093
6, 156
6, 587
4, 438
4,4o2
4,434
4,443
4,444
4,378
4, 396
Public utility
do
4,409
4, 369
4, 405
2, 515
2,566
2,581
2,517
2,597
2, 650
Railroad
..do
2, 659
2,630
2,623
2,616
1,922
1,955
1, 951
1,925
1, 956
Other
do....
1,902
1,910
1,952
1,944
1,930
716
868 , 1,074
537
690
Cash
do
921
597
712
876
574
614
602
604 i
616
583
Other admitted assets
do I
555
601
608
569
560
r
Revised.
J36 companies having 82 percent of the total assets of all United States legal reserve companies.
§Revisions in 1941 data for credit unions are shown on p. S-15 of the January 1943 Survey.
*New series. Earlier figures and a description of the data appear on pp. 9-25 of the November 1912 Survey; subsequent revisions in 1941 data for total short-term debt
(dollar figures and indexes), total cash loan debt, and commercial banks are shown on p. S-15 of the February Survey. Minor revisions in the figures prior to December 1941
for service debt are available upon request.
May 1943
S-17
SURVEY OF CURRENT BUSINESS
Monthly statistics through December 1941, to- 1943
gether with explanatory notes and references
to the sources of the data, may be found in the March
1942 Supplement to the Survey
1942
March
April
May
June
July
1943
August
September
October
592
42
364
186
535, 016
83, 304
112,240
339, 472
247,852
18,935
14, 291
58, 855
155, 771
594
55
356
184
532, 294
84, 799
111, 795
335, 700
253, 735
20, 092
15, 382
58, 805
159, 456
679
46
428
204
588, 237
78, 094
135, 727
374, 416
262, 368
21, 753
16, 073
56, 836
167, 706
Novem- December
ber
January
February
FINANCE—Continued
LIFE INSURANCE—Continued
Association of Life Insurance Presidents—Con.
Insurance written:®
Policies and certificates, total
thousands _
754
Group
do
75
Industrial
do
432
Ordinary
do
248
Value, total^
thous. of doL_ 752,561
Group
do
130, 390
Industrial
do
136,083
Ordinary^
do
486, 088
Premium collections, total®
do
316,139
Annuities
do
27, 602
Group
.
do
18,918
Industrial
do
68,170
Ordinary
do
201, 449
Institute of Life Insurance:*
Payments to policyholders and beneficiaries,
total
thous. of doL.
Death claim payments
do
Matured endowments
do
Disability payments
do
Annuity payments
do
Dividends
do
Surrender values, premium notes, etc.do
Life Insurance Sales Research Bureau:
Insurance written, ordinary, total
do
631,863
New England
do
48,103
Middle Atlantic
do..._ 166, 717
East North Central
do
146, 476
West North Central
do
60, 335
South Atlantic
do
62,379
East South Central
do
26,192
West South Central
do
44,098
Mountain
do
17,803
Pacific
d o . . . . 59, 760
Lapse rates
1925-26= 100__.
MONETARY STATISTICS
Poreign exchange rates:
Argentina
dol. per paper peso. _
.298
Brazil, officiate?
dol. per cruzeiro
.061
British India
dol. per rupee..
.301
Canada, free rate§
dol. per Canadian dol...
.899
Colombia
dol. per pcso__
.572
Mexico
do_
.206
United Kingdom, official rate§
dol. per £__
4.035
-Gold:
Monetary stock, U. S
mil. of dol.
22, 576
Net release from earmark^
thous. of dol.
Production:
Reported monthly, total
do-_.
Africa
do.-_
Canadaf
do.. .
United States
do.—
•Currency in circulation, total
mil. of doL_ 16,250
:Silver:
Price at New York
dol. perfineoz._
.448
Production:
Canada
thous. of fine oz
United States
do
Stocks, refinery, U. S., end of month___do
BUSINESS INCORPORATIONS
New incorporations (4 States)
number. _
962
PROFITS AND DIVIDENDS
Industrial corporations (Federal Reserve):
Net profits, total (629 cos.)
mil. of dol._
Iron and steel (47 cos.)
do
Machinery (69 cos.)
do
Automobiles (15 cos.)
do
Other transportation equip. (68cos.)__do
Nonferrous metals and prod. (77 cos.) do
Other durable goods (75 cos.)
do
Foods, beverages, and tobacco (49cos.)_do
Oil producing and refining (45 cos.)
do
Industrial chemicals (30 cos.)
do
Other nondurable goods (80 cos.)
do
Miscellaneous services (74 cos.)
do
Profits and dividends (152 cos.):*
Net profits
do
Dividends:
Preferred.
do
Common
do
Electric power companies, net income (28 cos.)
(Federal Reserve)*
mil. of dol._
Railways, class I, net income (I. C. C.)
do
Telphones, net operating income (Federal
Communications Commission).-.mil. of dol._
724
55
456
213
661, 681
97,826
140, 735
423,120
291, 538
24,130
18, 789
64, 257
184, 362
721
68
454
200
636, 493
124,823
139, 021
372.648
276, 007
23,113
14, 968
66, 272
171, 654
705
48
461
196
593,839
87, 773
141, 378
364, 688
270, 516
25, 363
14, 496
59,133
171, 524
585
54
340
191
576, 435
' 93,818
103, 873
378,744
281, 077
33, 984
19,312
57, 639
170,142
623
42
380
201
593, 733
90, 690
117, 563
385,480
279, 445
23, 504
19, 334
59, 376
177, 231
222, 927
92, 558
23, 931
8,489
13, 759
38,891
45, 299
227, 512
92, 409
23, 404
7,943
13, 694
46, 647
43, 415
188,894 203, 882 204, 396 165, 866 176,104 189, 326 176, 247 244,909 203, 604
75, 533 80, 702 89, 707 71. 785 76, 726 84, 114 80, 109 97,826 93,442
21, 644 22, 478 20,444
17; 449 20, 283 22, 464 22,132 21,802 25, 777
7,600
7,414
8,823
8,360
7,218
8,302
7,930
8, 053
7,021
12, 727 14,173
14, 549 10, 607 12, 978 13, 968 12, 763 13,192
17, 015
37, 221 32, 252 24,851
34, 377
31.187
27, 510 27, 258 25,880 68,314
36, 361 24, 691
40, 203 40, 485 39, 084 33, 244 31, 586 33, 469 28,145
187,853
85, 549
24, 237
7,135
12,796
33, 817
24, 319
552,044
42, 030
138,708
126, 330
53,182
52,173
24,960
46, 534
14, 533
53, 594
462,761
37,131
118,591
106,487
44, 931
45, 968
18,950
32, 604
11,998
46,101
457, 926 463, 325 459, 499 430, 297 432,679 467, 814 477, 749 521, 524 485, 782 508,908
36, 248 37, 029 37,051
39, 396 36, 761
34, 983 33, 590 37, 408 34, 767 36,426
114, 230 117, 577 115,844 100, 695 101,125 118, 351 119, 590 143,961 137, 295 136,677
106, 445 106, 796 105, 599 97, 929 96,148 106, 057 100, 774 114, 554 108, 316 117, 268
48,833 47, 660 46, 746 44, 693 45, 203 47, 518 44, 357 52,563
46, 684 49, 563
44, 679 44, 407 44,696 44, 285 46, 426 47, 720 45,188
50, 307 43, 661 49, 708
17, 758 19,182
19, 722
18,549
17, 515 18,413
18, 867 17,410 20, 220 18,131
31, 825 32, 247 32,199
32, 785 35,445 32,234 30, 565 38,142 34,133 37, 235
12.188 12, 288 13,165
16,069 12,798 13,752
12,123 12, 390 13, 059 12,703
45, 720 46,139
45, 650 45, 289 43, 939 46,600 42, 395 49, 282 45, 368 48. 222
77
.061
.301
. .877
.570
.206
4.035
.298
.061
.301
.872
.570
.206
4.035
.298
.061
.301
.886
.570
.206
4.035
710
87
425
198
662,506
161, 061
129, 863
371, 582
' 277,493
25, 654
r 15, 698
64, 014
172,127
.298
.061
.301
.900
.570
.206
4.035
630
66
366
199
635, 789
151, 343
112,917
371, 528
278,011
30, 999
16, 297
56, 368
174, 347
.298
.061
.301
.899
.571
.206
. 4. 035
22, 714 22, 737 22, 744
-38,196 -14,792 -24, 383
• 85, 346 • 80,263 - 80,943 ' 79,106 r 83,202
47,518
47,460
46,366 47,347 46,665
14,881
14,852
15, 372 14,728
14,864
11,164
10,504
11,316
12, 754
11,415
12,074
12,383
11,566
12, 739
11,767
22,687
-65, 525
22,691
-20,068
628
72
358
197
584, 743
114,180
111,801
358, 762
260, 427
22,128
16, 857
58, 539
1G2, 903
165
315
200
817, 547
'317,373
97,863
402,311
387,033
60, 577
17, 775
97, 855
210, 826
.298
.061
.301
.881
. 570
.206
4.035
22, 756 22, 754 22,740
-21, 763 -27, 759 -56,440
22,743
10, 752
22, 726 22,683
22,644
30,974 -76,063 -63,411
' 78,150 r 70,269
43,473
45,459
12,693
13,365
7,828
12,013
14, 210 14,805
68,103 v 64,986 v 62,156
42,851 v 41,922 p 39, 724
12, 597 11,708 11,459
6,209
5,179
4,820
15,410
15, 590 16,088
.298
.061
.301
.878
.571
.206
4.035
' 77,255 '76,692
46,052
45,044
14,100
13,212
10,163
11,837
13,200
13,703
.351
.351
.351
.351
.351
.351
1,606
5,285
3,152
1,613
5,606
2,930
1,624
4,948
3,270
1,537
4,528
2,685
1,966
5,048
3,744
1,505
4,412
4,510
1,758
4,561
2,922
1,279
1,194
1,094
832
818
.298
.061
.301
.879
.572
.206
4.035
.448
.448
.448
.448
.448
1,623
3,292
3,128
1,634
3,673
3,150
1,606
3,542
2,851
3,176
2,714
784
939
1,032
810
564
70
51
••458
51
36
36
19
32
35
39
39
32
204
174
'218
289
21
134
23
136
21
'126
158
33
96.7
25
199.2
28
284.1
35
383.
66.0
34
22
42
42
41
35
59
.061
.301
.896
.572
.206
4.035
1,870
3,819
3,505
••364
52
35
25
i'48
32
18
32
27
35
27
34
••419
52
.298
.061
.301
.900
.572
.206
4.035
.298
.061
.301
.876
.570
.206
4.035
.298
.061
.301
.895
.572
.206
4.035
i »-55
36
31
43
47
49
39
53
66.2
r Revised.
v Preliminary.
i Partly estimated.
• Or increase in earmarked gold ( - ) .
®39 companies having 81 percent of the total life insurance outstanding in all United States legal reserve companies.
6"Prior to Nov. 1, 1942, the official designation of the currency was the "milreis."
§The free rate for United Kingdom shown in the 1942 Supplement was discontinued after F e b . 1,1943; the official a n d free rates (rounded to thousandths) were identical
from January 1942 to January 1943. T h e official rate for Canada has been $0,909 since first quoted in March 1940.
JData for Mexico, included in the total through March 1942, are no longer available for inclusion. Revised monthly averages for 1941 and 1942, excluding Mexico a n d
including certain other revisions, are a s follows: 1941, 88,452; 1942, 78,038. Revised 1941 monthly average for Canada, 15,590 (monthly revisions available on request).
^Revisions not shown above, beginning December 1938, are available on request.
*New series. T h e series on payments to policyholders and beneficiaries, compiled b y the Institute of Life Insurance, represents total payments in the United States,
including payments by Canadian companies; data are based on reports covering 90 to 95 percent of the total and are adjusted to allow for companies not reporting; data beg i n n i n g September 1941 are available in the November 1942 Survey; earlier data will be shown in a subsequent issue. For data beginning 1929 for profits and dividends for
.152 companies, see p . 21, table 10, of the April 1942 Survey. Earlier data for net income of electric power companies will be published in a subsequent issue.
S-18
SURVEY OF CURRENT BUSINESS
Monthly statistics through December 1941, to- 1943
gether with explanatory notes and references
to the sources of the data, may be found in the March
1942 Supplement to the Survey
May 1943
1943
1942
March
April
June
May
July
August
September
October
Novem- December
ber
January
Febru
ary
FIN AN CE—Continued
PUBLIC FINANCE (FEDERAL)
War program in the United States, cumulative
totals from June 1940: *
Program
mil. of doL. 246,147 146,744 I 167,264 !168, 764 175, 599 220,237 221,968 221, 918 237, 913 237, 659 237, 949 238, 398 238, 952
99,497 i 110,436 I 121,225 133, 853 144, 735 153,052 160,155 168, 313 177,913 183, 802 190,108 197, 523
204,118
Commitments
do
80,543
23,422 I 26,883 I 30,707
34,921
87,655
Cash expenditures
do
55. 972 62,084 68, 208 74,461
39, 628 44,791
50,250
887
735
1,014
944
558 I
531 I
634
1,240
War savings bonds, sales*
do
814
901
734
634
838
115, 507
72, 495 77,136
Debt, gross, end of month®
do
62,464 | 65,018 ! 68.617
81, 685 86, 483 92,904 96,116 108,170 111,069 114,024
I
Interest bearing:
104, 284
64,156
Public issues
do
68,569 j 72,982 77, 338 83,680 86, 671 98, 276 100, 852 103, 286
54, 652 57,196 ! 60,637
Special issues to government agencies and
9,172
9, 565
8,787
8,509
9,032
7, 333
7,358 | 7,518 7,885 | 8,125 8,262
8, 585
trust funds
mil. of dol.. 10,284
1,219
1,045
1,173
479
639
657
Noninterest bearing
do
464 | 462
454 I 442
441
637
862
Obligations fully guaranteed by U. S. Gov't:
Total amount outstanding (unmatured) cf
4,275
4,277
4,244
mil. of doL.
4,350
5,666
4,548
4,243
4,283
5,666
5,667
4,551
4,567
4,552
By agencies:^
780
782
779
749
749
788
754
738
Commodity Credit Corp
do
701
738
701
701
701
930
930
930
Federal Farm Mortgage Corp
do
930
930
930
930
930
930
930
930
930
930
1,533
1,533
1,533
Home Owners' Loan Corporation._do
1,533
1,533
2, 409
1, 563
1,533
1,533
2, 409
1,533
1, 533
2,409
896
896
896
Reconstruction Finance Corp
do
971
896
1,219
1,216
896
1,492
1,216
1, 492
1,216
1,492
6,119
6,372
Expenditures, total
do
7,354
6,363
6, 501
4,531
5, 931
5,937
3.436
5,215
5,162
3, 755
3. 955
5,770
5,947
6,744
6,042
5,825
War activities*
do
3,829
5,384
5,481
2,809
4,884
3 238
4,498
3,560
92
86
103
66
Agricultural adjustment program
do
35
48
81
31
30
70
47
66
62
29
23
21
Unemployment relief
do
35
31
96
72
52
12
91
68
40
82
35
2
Transfers to trust accounts*
do
56
3
22
1
19
25
249
5
1
48
(a)
54
Interest on debt
do
77
28
35
205
390
7
353
35
224
70
19
262
(a)
(a)
(a)
(a)
(a)
Debt retirements
do
15
1
1
(ffl)
2
2
2
(*}
194
222
242
247
Allothert
do....
208
206
224
215
198
234
230
223
263
824
2,528
648
Receipts, total
.
do
3, 548
2,494
830
2,702
1,190
797
732
764
5, 207
794
788
2,527
607
Receipts, net
do
3,
547
2,492
601
2,701
955
695
587
563
5,206
747
25
24
Customs
do
28
23
24
26
33
22
20
32
30
32
24
724
603
Internal revenue, total
do
2,424
784
2,649
1,075
3.493
684
748
708
2,476
5,154
742
306
206
199
1,972
380
Income taxes
do
3,083
2,086
155
2,126
335
216
4,732
273
248
52
343
Social security taxes
do
232
42
43
49
50
43
*>22
50
53
Government corporations and credit agencies:
23,
437
22,643
Assets, except interagency, total., mil of dol.. 24,151
20,992
17,
962
19,
974
21,715
15,750
16, 656 17,343
18, 482 19,401
20, 534
8,691
Loans and preferred stock, total
do
8, 565
8,813
8,746
9,218
8,588
9,026
9,005
8,948
9,065
8,781
Loans to financial institutions (incl. pre858
ferred stock)
mil. of doL.
953
920
833
1,029
964
949
957
1,046
1,030
1,002
1,020
974
474
Loans to railroads
do
489
469
496
500
502
486
498
497
498
497
497
2,219
Home and housing mortgage loans do
2,265
2, 237
2,197
2, 392
2 372
2,241
2,357
2,286
2,297
2,344
2, 352
Farm mortgage and other agricultural
2,871
2, 912
2,878
loans
mil. of dol..
2, 869
2,916
3,272
2,925
3 100
3,076
2,994
3,092
2,949
3,038
2,167
2,149
2,168
Allother
do ._
2,151
2,196
2,124
2,026
2,067
2,096
2,067
2,041
2,042
2,117
U. S. obligations, direct and fully guaran1,375
1
222
1,219
' 1, 272
1.284
teed
mil. of doL.
1, 424
1, 060
1,097
1,113
1,144
1,197
1,076
1,088
1,359
1,' 001
1,041
Business property
do
1,020
976
1,408
859
952
792
815
924
833
879
5,883
4,701
5,187
5,638
Property held for sale
do
3,512
6.074
4, 287
4,710
2, 262
2,717
3, 067
3,808
4,177
6,232
5,989
All other assets
do
5,489
4,725
6,681
3,468
4,848
2,571
2,830
3, 349
3, 735
4, 295
5,288
Liabilities, other than interagency, total
10,345
10,533
10,791
mil. of dol. - 10, 850
10,161
9,863
10, 268
9,275
9,620
9,776
10, 078
9,482 I 9,728
Bonds, notes, and debentures:
4,332
4,291
4,301
Guaranteed by the U. S
do
4,574
4, 265
4,264
4, 365
4, 568
4, 592
5, 688
5, 690
5,687
4,581
1,383
1,413
1,414
1, 434
1,404
1,375
1,442
1,413
Other
do
1,431
1, 445
1,433
1,443
1,440
5,076
4,630
4,829
4,154
4,601
3, 265
4,185
Other liabilities, including reserves.._do
5,109
2,656
2,497
3,691
2, 950
3,457
440
439
439
443
439
438
442
Privately owned interests
do
441
436
435
439
438
437
12, 206
9,373
8,249
11,671
U. S. Government interests
do
6,444
13, 321
5,694
10, 230 10, 281 10,931
8,562
9,234
Reconstruction Finance Corporation, loans outstanding, end of month :\
Grand total
thous. of dol. _ 6,107,850 3,361,947 3,556,094 3,819,280 4,085,264 4,273,373 J4,545,609 4,628,502 4,848,279 4,916,226 5,312,352 5,604,641 5,805,976
Section 5, as amended, total
do
706,147 734, 696 738, 384 733,596 I 734,070 733, 316 735, 862 735,093 735, 685 735, 209 723, 554 723, 906 706,520
Banks and trust companies, including
63, 362
63, 876
receivers
thous. of dol. - 62, 576 68, 265 67, 514 66, 420 65, 803 65, 575 67, 449 66, 793 66, 434 65, 711 65, 082
4,218
4,315
Building and loan associations
do
4,574
5,060
4,671
3, 835
5,792
5,170
4,705
6,434
5,630
5, 037
5,817
522
529
529
529
Insurance companies
do
519
725
600
597
659
714
686
669
702
204,161 193, 993 196, 512 197, 401 198, 926 199, 280 200. 562 199, 737 200, 522 202,044 201, 689 200,686 198, 689
Mortgage loan companies
do
450, 499 453, 432 438, 668
434, 378 464, 842 466,182 462, 316 462, 088 461, 826 461, 563 462, 470 462, 050
Railroads, including receivers
do
1,061
1,069
912
1,085
920
1,079
1,028
924
All other under Section 5
do
939
928
Emerg. Rel. and Constr. Act, as amended:
Self-liquidating projects (including financ16, 954
16,809
16,960
17, 382
17, 310 17,195
17,194
17,153
17,133
17,056
ing repairs)
thous. of dol.. 16, 824 17, 452 17,415
Financing of agricultural commodities
204
157
339
403
349
349
349
117
368
368
352
349
thous. of doL.
349
Loans to business enterprises (including
participations)
thous. of doL _ 111.206 142,915 140, 290 139,465 I 135,961 134,278 ! 132,942 131,349 129,187 126,516 123, 775 117,536 115,250
4,405,119 1,191,436 1,395,212 i 1,670,157 1,940,4992,129,933 |2,409,243 2,484,112 3,082,347 3,136,522 3,548,003 3,853,321 4,094,028
National defense §
do
Total, Bank Conservation Act, as amended
thous. of doL. 677,112 710,029 702, 408 700, 693 699, 708 698,494 I 693,213 690, 851 689, 429 688, 208 687, 421 683.069 679. 830
65, 469
64, 444
66,832
66, 665
63, 366 71,859
71,168
70, 464 70, 359 68, 794 69, 357 69, 076 67,115
Drainage, levee, irrigation, etc
do
127, 958 493,156 490,849 487,154 487,004 491, 014 487, 450 500, 519 127,034 145, 533 145, 635 144,181 128,937
Other loans and authorizations
do
SECURITIES ISSUED
{Securities and Exchange Commission)]
1,389
994
1,092
2,531
6,951
Estimated gross proceeds, total
mil. of dol..
4,975
779
2, 965
809
3,099
2,068
709 |
By types of security:
1,389
994
2,519
4,973
778
6,951
693
2,
952
792
3,099
2,066
1,078
701
Bonds, notes, and debentures, total..do
9
49
50
15
27
26
112
87
86 !
115
126
52 I
Corporate
do. _..
84
0
9
0
0
2
3
I
0
4
9
10
Preferred stock
do
16 I
0
0
(a)
! (a)
3
0
2
0
Common stock
. do
3
(«0 I
' Revised.
* Preliminary.
« Less than $500,000.
® Figures beginning July 1942 are on the basis of Daily Treasury Statements (unrevised); earlier figures are on the revised basis as shown in the Public Debt Statement
which was discontinued after June 1942.
cf The total includes guaranteed debentures of certain agencies not shown separately.
*For revisions beginning July 1941, see p. S—17 of the November 1942 issue.
•Jlncludes repayments unallocated, pending advices, at end of month.
§Covers all loans for national defense beginning October 1942; prior to October some defense loans are included in "other loans and authorizations."
fSee note marked " t " on p. S-19.
*New series. The series on the war program has been revised in this issue to cover the United States Government only; cumulative totals (preliminary) through March
1943 for the series formerly published, including foreign orders placed in the United States and payments by foreign purchasing missions, are as follows (millions of dollars):
Program, 250.287; commitments, 208,158; cash exnenditures, 91,397. For a description of the data see n. 21, table 9, of the April 1942 Survey; earlier figures comparable with
the data shown above will be published later. The series on war savings bonds is from the Treasury Department and represents funds received during the months from sales
of series E, F, and (1; for earlier data see p. S-16 of the October 1942 Survey; the August figure has been revised to include $37,000,000 representing reports for August received
during first few days of September.
I
(«) I
S-19
SURVEY OF CURRENT BUSINESS
May 1943
Monthly statistics through December 1941, together with explanatory notes and references
to the sources of the data, may be found in the
1942 Supplement to the Survey
1942
1943
March
April
March
June
May
1943
Au ust
July
?
tefZr
October
Novem- December
ber
January
February
FINANCE—Continued
SECURITIES ISSUED—Continued
(Securities and Exchange Commission) f
Estimated gross proceeds—Continued.
By types of issuers:
Corporate, total
mil. of dol.
Industrial
do
Public utility
do
Rail
do_.._
Other
do
Non-corporate total ®
do
U. Government and agencies
do
State and municipal
do
New corporate security issues:
Estimated net proceeds, total
do
Proposed uses of proceeds:
New money, total
do
Plant and equipment
do
Working capital
do
Repayment of debt and retirement of
stock, total
mil. of dol__
Funded debt
do
Other debt
do
Preferred
do
ee stock
Other purposes
do
Proposed uses of proceeds by major groups:§
Industrial, total net proceeds_mil. of dol_.
New money
do
Repayment of debt and retirement of
stock
mil. of dol..
Public utility, total net proceeds---do
New money
do
Repayment of debt and retirement of
stock
.
.mil of dol...
Railroad, total net proceeds
do
New money
do
Repayment of debt and retirement of
stock
mil. of doL.
61
22
15
0
994
944
50
102
47
49
6
0
607
558
49
121
110
11
0
0
587
531
56
126
104
21
0
1
2,839
2,809
30
142
63
70
9
1
666
634
32
0
3,046
2,998
47
96
100
118
124
139
52
39
6
32
39
35
4
70
15
55
59
27
33
72
57
15
14
11
3
39
33
6
61
41
15
5
12
36
0
64
11
53
0
1
66
55
5
2
37
29
8
37
34
3
0
12
107
59
102
49
61
51
48
11
11
0
0
0
(a)
(a)
46
25
40
53
47
3
(a)
(a)
89
19
68
2
0
1,979
1,932
47
46
9
18
4
53
21
10
37
3
2
3
68
34
11
0
0
1
2
2
62
16
45
1
0
2,469
2,444
24
18
6
3
9
0
4,958
4,919
38
27
12
15
0
0
752
735
17
26
3
20
4
0
6,925
6,906
18
60
17
27
26
49
23
8
15
2
2
1
2
8
7
1
12
10
2
29
26
1
15
15
0
17
13
37
34
3
0
0
(a)
24
24
(a)
(a)
9
9
0
0
0
1,380
1,240
49
49
3
39
8
0
945
887
57
(a)
4
(a)
12
2
(a)
(a)
2
2
10
15
(a)
39
2
(a)
14
0
0
37
(Commercial and Financial Chronicle)
Securities issued, by type of security, total (new
capital and refunding)
thous. of doL. 199,837
New capital, total
do
89,645
Domestic, total
do
87,395
Corporate, total
do
56,943
Federal agencies
do
0
Municipal, State, etc
do
32,702
Foreign
do
2,250
Refunding, total
do _ - - 110,192
Domestic, total
do-_. 110,192
Corporate
do
38,447
Federal agencies
do
54,830
Municipal, State, etc
do
16,915
Domestic issues for productive uses (Moody's):
Total
mil. of doL
Corporate
do
Municipal, State, etc
do
(Bond Buyer)
State and municipal issues:
Permanent (long term)
thous. of doL. 50, 670
Temporary (short term)
do
69,092
COMMODITY MARKETS
Volume of trading in grain futures:
Wheat
mil. of bu_.
Corn
do
15
SECURITY MARKETS
Brokers' Balances (N. Y. S. E. members
carrying margin accounts) H
Customers' debit balances (net)
mil. of doL_
Cash on hand and in banks
do_
Money borrowed
do.
Customers' free credit balances
do
181,961 2 0 M 2 2 142, 322 161, 739 100,977 115,001
129, 500 96, 516 40,750 103,133
28,145
45,085
129,500 96, 516
28,145
40,750 103,133
45,085
103,842 76,827 27, 510 58, 600 28,446
2,434
2,715
0
2,060
2,515
0
0
22,944
17,628
44,533
10,725
16,639
25, 711
0
0
0
0
0
0
52, 461 104,906 101,572
58,606
55, 893 86,856
52, 461 104,906 101, 572 58,606
55, 393 86,856
30,437
5,807 61, 686 32,719
6,018
43,846
38,800
28, 455
32,260 49, 925 18, 400 30, 645
6,556
7,855 14, 766 36, 593
2,663
12, 365
197, 359
109,749
109,749
79,085
8,860
21,804
0
87, 610
87, 610
39,209
21,315
27,085
265, 603
158,579
158,579
97,114
9,720
51,745
0
107,025
107,025
18, 527
80, 540
7,958
78
58
20
50
10
40
35
20
15
28
18
10
51, 235
183, 744
61,308
113, 745
28,759
59,916
36, 723 48,096
75,400 133, 530
178
111
249
148
226
126
267
145
390
104
350
340
531
195
306
249
515
195
300
247
502
177
300
238
496
180
309
240
98.24
99.42
70.90
95.97
97.98
58.95
95.63
97.54
60.29
95.64
97.46
61.16
116.7
117.8
106.1
101.8
88.6
27.6
122.2
110.2
99.3
107.1
102.3
88.4
26.7
124.5
110.5
610
26
17
9
97,871 144,808 176, 420 102, 360
29,029
36, 696
6,670 57,900
29,029
36.696
6,670 57,900
4,679
10, 621
2,798 11,330
17,125
16, 720
0
0
7,225
9,355
3,872 46,570
0
0
0
0
68,842 108,113 169, 750 44, 406
68, 842 108,113
44.
406
79, 750
13,531
64,829
1,865
7,517
45, 520 34, 245 26,805 31,875
9,792
45, 428 10, 666
5
2
3
7
4
3
4
2
2
53
10
43
28,862
60,862
53, 672 203, 704
36,036
79,815
24,188
6,905
34,486
45,464
257
141
261
85
190
81
146
94
224
125
212
103
491
172
307
238
490
500
510
520
550
310
240
310
250
320
250
543
160
378
270
540
300
240
290
280
320
310
95.50
97.28
61.72
95. 76
97.49
61.68
96.08
97.75
62.51
96.18
97.83
62.97
96.48
98.08
63.16
96.11
97.59
65.24
97.47
98.72
68.88
97.79
99.03
70.01
117.7
118.0
118. £
118.7
119.0
119.3
119.5
118.9
119.5
120.0
98.9
107.4
102.2
87.1
26.4
124. 5
110.7
98.1
107.7
103.5
83.0
24.0
125.7
110.7
108.4
104.5
83.9
25.5
126.7
110.2
99.3
108.7
104.1
85.2
27.1
127.6
109.9
100.7
109.8
105. 8
86.4
29.4
128.1
109.8
102.1
111.2
107.1
88.0
30.3
128.6
109.5
103.2
113.8
108.3
87.6
29.6
129.0
109.4
103. 6
115.3
109.1
86.5
29.9
127.8
108.9
105.4
115.7
110.5
89.9
31.7
127.7
109.4
106. 4
115.9
111.4
92.0
33.5
128. 6
109.4
61,173 ' 61.336
145, 734 • 59,482
[188
30
Bonds
Prices:
Average price of all listed bonds (N. Y . S. E.)
dollars-Domestic
do
Foreign
do
Standard and Poor's Corporation:
Industrial, utilities, and rails:
High grade(15bonds)..dol. per $100 bond• M e d i u m and lower grade:
Composite (50 bonds)
do
Industrials (10 bonds)
do
Public utilities (20 bonds)
do.
Rails (20 bonds)
do~
Defaulted (15 bonds)
do.
Domestic municipals (15 bonds) f
doU. S. Treasury bonds
do~
1
r
Less than $500,000.
Revised.
® Includes for January 1943 a Canadian Government issue of $90,000,000 and, for certain months, small amounts for nonprofit agencies not shown separately.
1 Complete reports are now collected semiannually; data for August-November 1942 and beginning 1943 are estimates based on reports for a small number of large firms.
§ Small amounts for "other corporate," not shown separately as formerly, are included in the total net proceeds, all corporate issues, above.
f Revised series. For an explanation of changes in the data on security issues compiled by the Securities and Exchange Commission and revised 1941 monthly averages
for selected series, see p. S-18 of the April 1943 Survey; all revisions for years prior to 1942 are available on request. The price indexes for domestic municipals are converted
from yields to maturity, assuming a 4-percent coupon with 20 years to maturity instead of 3%-percent coupon with 22 years to maturity, as formerly. Earlier data will be
shown in a subsequent issue.
S-20
Monthly statistics through December 1941, together with explanatory notes and references
to the sources of the data, may be found in the
1942 Supplement to the Survey
SURVEY OF CURRENT BUSINESS
1942
1943
March
May 1943
March
April
May
June
July
August
1943
September
October
Novem- December
ber
January
February
FINANCE—Continued
SECURITY MARKETS—Continued
Bonds—Continued
Sales (Securities and Exchange Commission):
Total on all registered exchanges:
99,075
81 804
80,306
83,842 124,075 134, 771
91,838
98,513 114,943 144,737
Market value
thous. of dol.. 260,794 137,003
580,038 306, 812 202,862 179,690 151 865 155,111 173, 629 316, 526 303,128 207, 713 233,873 329,565
Face value
do
On New York Stock Exchange:
71, 249
86, 629
72, 623
75, 610 112, 301 122,448
243, 869 121,066
80, 772
87,421 101, 549 132,378
Market value
do
Face value
do
554, 858 286, 211 186,165 165, 276 139 586 142, 932 162, 734 300, 306 285, 683 192, 439 214,320 310, 531
Exclusive of stopped sales (N. Y. S E . ) ,
face value, total
thous. of doL. 497, 869 263, 055 174,011 156,658 133 776 125, 605 159, 938 276,812 266,931 169,301 207,079 302,817
449
248
245
229
199
407
299
U. S. Government
do _._
197
251
879
545
953
Other than U. S. Govt., total, do .._ 497, 672 262,176 173, 467 155, 705 133 369 125, 306 159,490 276, 567 266,684 169,072 206, 880 302, 566
Domestic
do
481, 522 249,192 162, 311 138, 597 124 676 119,068 152,418 268, 643 258, 361 157, 269 195,834 290,890
7,072
17,109
7,924
8,323
11,046
Foreign
do
11, 676
11,156
8 694
6,238
16,150
12, 984
11, 803
Value, issues listed on N. Y. S. E.:
63,992
60, 572
61 899
65, 277
61, 956
65, 256
67, 207
72,993
67,156
Face value, all issues
mil. of dol.. 72, 856
72, 880
60, 579
62,198
62,182
64,139
69,934
69,835
57, 466
58, 852
58, 804
60,903
64,088
69,831
Domestic
do
57, 471
3,074
3,068
3,079
3,059
3,021
3,067
3,105
3,105
3,049
Foreign
do
3,108
qo, OQfi
q noq
uyo
o,
Uoy
62,
766
64,844
62,
720
70,
584
71, 575
57, 924
59, 258
64,
544
71, 039
Market value, all issues
do
58,140
112
59 201
61,
278
60, 830
62,906
59,372
57,
60, 796
68, 562
69, 433
62, 543
56, 051
57, 359
68, 939
Domestic
do
56, 308
1,936
1,938
1,924
2,142
1,872
1,899
1,905
2,022
1, 911
2,001
2,100
Foreign
do
1,832
Yields:
Bond Buyer:
j2.21
2.15
2.13
2.33
2.15
2.16
2.12
2.08
2.33
2.16
2.17
Domestic municipals (20 cities) .__ percent..
2.38 |
Moody's:
3.34
3.32
3.34
3.36
3.31
3.37
3.35
3.33
3.31
3.20
3.27
Domestic corporate
do—
3.37 |
i
By ratings:
2.81
2.80
2.79
2.81
2.85
2.83
2.85
2.83
2.79
2.80
2.76
Aaa
do---.
2.86 !
2.99
2.95
2.96
3.01
2.99
2.94
2.98
3.00
2.98
2.93
2.88
Aa
do
3.00
3.27
3.24
3.23
3.31
3.30
3.31
3.28
3.26
3.24
3.14
3.20
A
.
do..._
3.32
4.28
4.24
4.33
4.30
4.27 |
4.26
4.28
4.01
4.25
4.16
Baa
do
4.30
By groups:
2 94
2.94
2.94
2.94
2.97
2.96
2.97
2.95
2.93
2.87
2.90
Industrials
.
do -.
3.00
3.09
3.07
3.12
3.13
3.07
3.13
3.08
3.06
3.00
3.05
Public utilities
do-.
3.17
4.02
3.92
4.03
3.95
3^98
3.97
3.95
3.96
3.93
3.73
3.86
Rails
do .
3.94
Standard and Poor's Corporation:
2.22
2.32
2.28
2.38
2.45
2.25
2.26
2.20
2.27
Domestic municipals (15 bonds)
do_.
2.58
U. S. Treasury bonds:
2.02
2 00
2.05 !
2.09
1.98
1.97
1.97
2.03
2.06
2.08
2.06
Partially tax-exempt
do2.00
2.34
2.34
2.33 I
2.33
2.34
2.34
2.34
2.35
2.36
2.32
2.33
Taxable*
do
2.35
Stocks
Cash dividend payments and rates (Moody's):
Total annual payments at current rates (600
companies)
mil. of dol. 1, 680. 77 1, 850.15 1, 805. 62 1,701.40 1,675.01 1, 675. 81 1, 646.14 1, 643. 75 1, 645.97 1,647.36 [1,677.20 1,682.83
938.08
938.08
938. 08
~ ~ ~~ 938.08
938.08
942. 70
938.08
938.08
Number of shares, adjusted
millions..
942. 70
942. 70
938.08
Dividend rate per share (weighted average)
1.75
1.75
1.92
1.75
1.79
1.79
1.76
1.79
1.78
1.81
(600 companies)
dollars..
1.78
1.97
2.81
2.81
2.81
2.81
2.81
2.81
2.81
2.82
2.82
2.81
Banks (21 cos.)
do
2.82
2.81
1.70
1.71
1.70
1.79
1.76
1.75
1.69
1.71
1.93
1.71
Industrials (492 cos.)
do
1.71
1.98
2.69
2.69
2.69
2.69
2.69
2.69
2.69
2.64
2.64
2.69
Insurance (21 cos.)
do
2.64
2.69
1.75
1.73
1.74
1.73
1.74
1.74
1.74
1.75
1.75
Public utilities (30 cos.)
do
1.74
1.77
1.80
1.66
1.85
1.75
1.79
1.66
1.75
1.96
2.12 I
2.12
Rails (36 cos.)
do___.
2.18
1.77
1.77
Dividend payments, b y industry groups:*
143.4
296.8
282.1
320.5
118.3
340.5
155.7
675.7
392.5
Total dividend payments
mil. of doL.
312.8
318.8
343. 9
67.0
128.1
91.9
189.4
66.2
142.9
101.7
369.6
219.5
Manufacturing
do
135.9
198.5
209.4
3.1
1.7
25.3
5.0
3.3
3.5
54.9
29.7
1.4
Mining
do
4.7
23.0
22.6
3.2
16.2
25.4
15.4
44.5
25.5
15.7
3.4
3.8
22.1
16.7
Trade
do
23.2
26.6
73.3
21.0
47.7
53.9
26.2
74.2
8.5
8.3
47.3
Finance
do
16.0
24.7
8.0
16.7
9.3
12.2
64.2
29.9
11.7
1.4
3.3
12.5
Railroads
do
12.1
7.7
34.3
33.7
30.3
36.9
47.2
38.7
40.2
35.4
32.1
44.3
Heat, light, and power
do
29.7
32.9
.1
46.0
12.5
46.5
13.6
14.3
46.9
.1
.2
46.9
C ommunications
do
9.5
15.9
1.1
2.6
7.3
27.8
8.7
5.6
5.0
2.8
1.9
Miscellaneous
do
4.5
7.9
7.5
Prices:
Average price of all listed shares (N. Y. S. E.)
48.2
47.2
51.1
46.6
50.6
44.6
45.3
52.6
42.6
62.1
Dec. 31, 1924=100..
44.5
Dow-Jones & Co., Inc. (65 stocks)
38. 37
33.12
35.54
35.46
36.00
38.81
38.81
32.92
34.20
44.64
dol. per share. .
34.54
40.73
113.51
98.42
106.94
106.08
107. 41
115.31
117.16
103. 75
97.79
121.52
131.15
101. 62
Industrials (30 stocks)
do
13.35
11.68
11.75
11.51
11.76
14.16
14.02
11.06
11.93
15.57
17.58
12.15
. Public utilities (15 stocks)
do
28.65
24.29
25.63
26.19
26.76
28.13
28.59
26.83
23.59
24. 56
32.47
26.09
Rails (20 stocks)
do
79.06
68.30
73.26
73.10
74.40
80.13
81.51
67.52
71.07
84.67
91.13
69.17
New York Times (50 stocks)
do___.
136.56
119. 25
129.42
126.93
128.65
139. 23
142.86
125.05
117.45
147. 75
157.06
119.65
Industrials (25 stocks)
do
21.55
17.35
18.71
19.26
20.16
21.03
20.18
17.59
17.10
25.21
21.59
18.69
Railroads (25 stocks)
do
Standard and Poor's Corporation:
74.2
68.2
68.3
69.4
63.2
75.2
79.7
75.9
66.1
63.3
88.2
66.0
Combined index (402 stocks) .1935-39= 100..
76.5
70.6
70.5
71.6
64.7
77.2
78.5
68.2
82.3
64.8
67.2
Industrials (354 stocks)
do
77.6
71.5
71.0
71.8
66.3
77.3
77.7
81.1
69.0
67.8
70.8
Capital goods (116 stocks)
do
72.7
69.2
68.9
69.6
62.9
74.1
75.8
67.6
79.7
61.8
63.9
Consumer's goods (191 stocks)
do
63.7
58.4
58.8
59.5
57.2
66.2
65.2
69.3
58.8
56.5
76.2
60.5
Public utilities (28 stocks)
do
72.7
62.9
65.4
66.7
60.3
73.0
69.3
59.0
73.7
61.1
65.0
86.4
Rails (20 stocks)
do
Other issues:
75.7
70.5
74.1
74.2
67.9
73.1
77.9
62.5
66.3
60.4
62.6
Bank?, N . Y. C. (19 stocks)
do
Fire and marine insurance (18 stocks)
98.5
104.7
104.9
108.4
97.2
98.5
100.6
104.4
90.6
89.5
95.9
1935-39=100-.
Sales (Securities and Exchange Commission):
Total on all registered exchanges:
Market value
.thous. of d o L . 996, 931 341, 230 272, 889 265,455 273, 279 302,181 253,211 284, 995 465, 937 411,312 629,403 507,440
12, 553
15, 381
24, 753
22,053
14,033
33,651
28,067
12, 625
13, 613
12, 838
16,391
Shares sold
thousands,. 63,006
On New York Stock Exchange:
Market value
thous. of dol__ 861, 091 287, 785 226,187 226,102 232,947 258, 535 214, 217 241,517 400, 475 352, 283 536, 509 432,974
9,932
19, 610
10, 964
9,489
11,903
25,160
21,682
17,310
9,685
10,079
12,175
Shares sold
thousands-. 48,026
Exclusive of odd lot and stopped sales
15,933
8,374
7,387
18,032
7,229
9,450
13,437
19,313
7,589
(N. Y. Times)
thousands.. 36, 997
8,580
Shares listed, N . Y. S. E . :
34,444
34,872
35,605
37,738 , 37,374 I 38, 812
41,411
32,914
33, 419
32,844
Market value, all listed shares
mil. of doL. 45, 846
31,449
1,471
1,471
1,471
1,471 I
1,471 ;
1,471
1,470
1,470
1,469
Number of shares listed
millions-.
1,469
1,469
1,469
134, 433
276, 381
122, 202
259,290
252,254
253
252,001
245, 656
6,345
72, 962
69,837
3,125
71,346
69,159
2,188
2.08
3.23
2.77
2.89
3.17
4.08
2.88
3.02
3.78
2.22
2.06
2.32
1, 686. 26
942.70
j
1.79
2.82
1.72
2.64
1.75
2.16
140.7
60.4
.7
5.9
28.1
7.1
36.4
.1
1.9
59.0
42.78
127. 40
16.87
29.80
88.18
153. 76
22.61
84.8
87.7
86.1
84.8
73.3
77.5
84.7
111.0
| 014,765
j 38,457
I 527,643
j 29,388
24, 434
43, 539
1,470
*New series. The new bond series represents the average yield of taxable Treasury bonds (interest subject to both the normal and surtax rates of the Federal income
tax) neither due nor callable for 12 years; this average started Oct. 20, 1941, following the issuance of the second series of such bonds; the 2y2 percent bonds of 1962-67 and the
2]^ percent bonds of 1963-68 are excluded because of restrictions on their purchase and negotiability. The series on dividend payments has been revised because of certain
shifts in the industrial classifications, principally a shift of leased railroad lines from "railroads" to the "finance" group. Revised data for January 1941-February 1943 will be
published later. For a description of the data see p p . 26-28 of the November 1942 Survey.
S-21
SURVEY OF CURRENT BUSINESS
May 1943
Monthly statistics through December 1941, to- 1943
gether with explanatory notes and references
to the sources of the data, may be found in the March
1942 Supplement to the Survey
1943
Janu- February
ary
1942
March
April
June
May
July
August
September
October
Novem- December
ber
FIN AN CE—Continued
SECURITY MARKETS—Continued
Stocks—Continued
Yields:
Common stocks (200), Moody's
percent..
Banks (15 stocks) _
.
do
Industrials (125 stocks) _ . . _._ _ _ _do
Insurance (10 stocks)
do
Public utilities (25 stocks)
. do
Rails (25 stocks) _ _
__
do
Preferred stocks, high-grade (15 stocks),
Standard and Poor's Corp
percent
4.8
4.0
4.5
3.9
6.2
6.8
7.7
6.0
5.0
8.5
8.2
7.8
6.1
7.7
5.3
8.9
8.3
6.9
5.7
6.7
4.9
8.2
7.8
6.6
5.6
6.4
4.8
8.4
7.8
6.4
5.5
6.1
4.7
8.2
6.3
5.1
6.0
4.7
8.0
7. 5
6.1
4.9
5.8
4.5
7.9
7.3
5.8
5.0
5.5
4.4
7.2
7.0
5.9
5.2
5.5
4.5
7.1
8.0
4.38
4.52
4.48
4.40
4.32
4.27
4.27
4.23
4.23
5.7
4.2
8.6
7.2
5.4
4.5
5.0
4.1
6.8
7.9
5.1
4.4
4.7
4.1
6.3
7.3
4.19
4.17
4.10
180
180
77
77
5-S
0.3
Stockholders (Common Stock)
American Tel. & Tel. Co., total
number__ 645,084 637,020
Foreign
do
5 150
5 230
205, 304
Pennsylvania R. R. Co., total _
_ do . .
Foreign
do
1.409
IT. S. Steel Corporation, total
do
163, 586 164,013
Foreign
do
2,573
2, 596
Shares held by brokers
percent of total
24 90
25 20
639,152
5 214
205, 259
1,374
164 039
2,580
24 90
641,301
5 184
205, 405
1,367
163 754
2, 577
24 88
642, 631
5 159
205, 965
1,360
163 296
2, 577
25.45
1
FOREIGN TRADE
INDEXES
Exports of U. S. merchandise:
Quantity
Value
Unit value
Imports for consumption:
Quantity
Value
Unit value
VALUE*
1923-25 - 1 0 0 ,
do_ _.
do_ - _
246
do.. _ _
do. _ _
d o . _.
Exports, total incl. reexports
Exports of U. S. merchandise
General imports
I m p o r t s for consumption
thous. of dcL_ 930,661
do
j 916,541
do
| 248, 470
do
I 263,171
190
162
85
205
185
90
153
139
91
183
165
89
110
79
95
70
78
58
86
63
73
610,973 695,355 525,116
604,945 687,658 519,168
272,111 | 234,085 |r 190, 592
252,029 I 222,819 ^ 186,428
I'618,092
k612,699
I 214,919
| 205,024
199 !
185 |
93 !
|
195 |
168 !
86
'"626,806
/ 6 2 1 , 895
I 214,384
[ 210,257
215
191
89
225
206
92
84
62
74
95
70
74
I 694,466 ! 718,187
j 088,124 712,135
! 184,432 195,689
j 191,759 199.221
776,036
768,912
199,392
224,012
208
200
96
241 I
226 I
94 I
79
X!
166 I
127 I
76 |
! 749,623 I1853. 226
! 743,806 1*844,994
| 173,745 1J35G, 280
! 193,555 ( ] 405,345
! 698,245 1 678,850
| 691,975 671,211
j 228,388 j 234,293
! 245,827 \ 245,288
TRANSPORTATION AND COMMUNICATIONS
TRANSPORTATION
Commodity and Passenger*
j
U n id justed i n d e x e s
Coiiibini'd iii'ic \ . ,.11 U p u s
1935 3 9 - 1 0 0
J.\( h i d i r v local n msit lines
do
Coin n o u n \
do
PdW>!><><) "
(j )
h \ ( l i h l m u loc il t i i p s i t l i n e s
do
I l \ i\ p e s of l i u i s n o i f ' ( i o n .
,
\n,tonibi'H1 i m d e \
do
( '».'Pir ' i}\\ v
do
I 1 , M i<vi *
do
Ji'l n i f \ n m l d i b u s a n d t i t u k , c o n i b ' - ' > d
iTi'ii \
19 55 .iU = T)O '
1 oi-hnc (rudv
«ii
Moioi b u s
U,
l.t ( il I' insil Un, s
d )
Oil 111(1 L\1S pi IM 11 PS
(I >
R.ulio.ids, ( omt r < d index
d(
C< m n i ( dil \
d >
Pai-senret
in
V, akibont (doiM ^ i c \ (omnux'it \ d(»
A d j u s t e d ind (> xes
C o m b i n e d r>dex. '11 I \ pes
do
K x c l u d m u i ' \ U liar.sit l n u s
do
JV-semut
J' \< lndiiisz 1 >(<il l i a n s ' t
H \ {\ p e of 11 uisi)'>it H i o n
\i), (om'/jr ed index
CommndiU
lines
I'JW..«M
I n t ( H i l \ m o t o i ))iis a n i t i u c k ,
l"d(\
](•
I oi-Mno t.iK'k
M o t M \u<
! o( <\ t l n i s i t l u . e s
O i l a n d j.'c s p i p e J i m s
R niro a s
Commodit »
167
172
169
160
192
174
180
175
168
211
311
202
•JL't
349
303
380
326
311
337
K.s
170
176
174
183
135
135
185
185
184
198
206
195
207
280
203
211
202
207
276
190
203
192
209
284
343 i
406 i
301 |
351
431
298
337 |
438 !
270 |
217
200
273
134
134
218
209
289
84
220
211
250
142
141
224
214
304
226
224
235
149
145
230
221
290
218
216
227
147
152
221
209
314
05
187
192
185
194
248
190 I
219
184
189
183
185
229
197
187
203
271
261
316
225
287
325
236
296
372
245
407 !
184
178
207
139
135
202
199
225
66
196
189
198
196
210
149
142
i
!
|
i
I
185
192
184
189
255
324
263
302
349
270
32f> I
372 I
175
165
207
134
128
197
196
205
84
191
180
227
137
129
202 I
198 I
201
185
252
134
132
209
203
175
1S1
176
172
221 I
1/7
183
178
1 ">.">
191
172
178
174
163
205
33«»
2s2
372
353
298
388
316 j
308 ;
no
183
178
198
129
132
192
191
197
84
173
174
02
234 I
86 ;
i
!
i
193
201
190
202
284
180
186
179
181
233
]
.
296 !
I
|
|
!
|
|
i
81 i
187
191
178
217
286
201
206
193
226
301
320 I
466 I
224 |
323
454 !
236
378
517
!
!
i
i
;
i
!
|
!
222 |
207
199
232
160
156
21.1
197
317
30
217
210
241
j 05
162
229
215
332
33
|
194
200
187
218
295
195
200
186
224
303
208
215
200
232
320
345
447
277
394
492
329
432
522
373
233
225
232
154
150
214
199
328
67
22(5
235
219
285
159
149
234
220
341
71
!
I
!
i
|
191
195
181
226
302
1X1
9C
321 j
180 I
165
218
132
132
201
1QO
211
149
140
208
204
238
64
211
205
264
62
!
!
|
|
313 i
251 I
201 '
201
227
147
140
216
206
294
01
195
202
191
210
285
|
218
307 j
323
421
258
356 I
210
209
247
147
149
221
210
307
211 I
208 I
245
145
451 I
293
151 I
221
205
340
57
j
i
i
j
|
240 I
162
155
212
195
339
42
i
162
17"
{,,
Vv atei b( I i e Moipestu ) , commodit \
l.V
1H
i:,')
j
I
i
|
!
212
271
159
148
214
201
318
67
!
I
!
!
|
!
|
|
Express Operations
12, 106
14, 295
12, 922
Operating revenue
thous. of do!;
12, 134
14, 773
12, 312
12,168 ! 12,170
18, 071
11, 976
153
61 ;
79
88
157
67
76
Operating income
do I.
72 i
Local Transit Lines
j
7.8060
7. 8060
7. 8060
7. 8060
7.8060 : 7.8060
7.8060 i 7.8060 ; 7. 8060
7. 8060
Fares, average, cash rate
. _. _ cents._! 7. 8060 7. 8033
7. 80fi0
r
Passengers carri >d§
thousands _; 1,254,163 l,008,981 1,005,945 1,031,013 1,023,544 1,033,348 1,037,054 11,059,727 11,152,868 1,100,451 [1,254,329 1,239,428 (1,147,971
72,561
72,668 ! 75,512 \ 76,494 ! 77,400 I 78,399 I 78,782 | 85,257
81,356 ! 94,248 ! 93.600 | 87,326
Operating revenues
thous. of doL_
r
Revised.
1
Figures overstated owing to inclusion of an unusually large volume of shipments actually exported and imported in earlier months.
|Data revised for 1941; for revised 1941 monthly averages see note 2 on p. S-20 of the April 1943 Survey. Revised monthly data available on request.
§For 1941 figures revised to cover the same companies as for 1942. see note marked "f" on p. S-21 of the April 1943 Survey.
*New series. For data beginning 1929 for the transportation indexes see pp. 26 and 27, table 5, of this issue.
SURVEY OF CURRENT BUSINESS
S-22
Monthly statistics through December 1941, to- 1943
gether with explanatory notes and references
to the sources of the data, may be found in the March
1942 Supplement to the Survey
y 1943
1942
March
April
May
June
July
1943
August
September
October
Novem- December
ber
Janu- j February ] ary
TRANSPORTATION AND COMMUNICATIONS—Continued
TRANSPORTATION—Continued
Class I Steam Railways
Freight carloadings (Federal Reserve indexes):
Combined index, unadjusted,..1935-39=100,
Coal
do__.
Coke
do...
Forest products
do. _.
Grains and grain products
do.. _
Livestock
.
_ _.do...
Merchandise, 1. c. 1
do.-_
Ore
do...
Miscellaneous
do. _.
Combined index, adjusted
do...
Coal
do...
Coke
do...
Forest products
do...
Grains and grain products
do -..
Livestock
do...
Merchandise, 1. c. 1
do._.
Ore
do__.
Miscellaneous
do....
Freight-car loadings (A. A. R.):H
Total cars
thousands.
Coal
.
do...
Coke
do...
Forest products
do. _.
Grains and grain products
do_-_
Livestock
do...
Merchandise, 1. c. 1
do...
Ore
do.-Miscellaneous
do...
Freight-car surplus, total
do...
Boxcars
do...
Coal cars
_„
do...
Financial operations:
Operating revenues, total
thous. of dol.
Freight
do...
Passenger
do. -.
Operating expenses
do...
Taxes, joint facility and equip, rents...do...
Net railway operating income
do...
Net income
do._.
Operating results:
Freight carried 1 mile
mil. of tons.
Revenue per ton-mile
cents _
Passengers carried 1 mile
millions.
Financial operations, adjusted:
Operating revenues, total
mil. of dol Freight.
do_Passenger
do. - Railway expenses
do...
Net railway operating income
do -. .
Net income
do...
130
144
189
133
131
92
62
56
138
136
140
182
133
152
117
61
216
141
129
125
175
149
102
77
92
73
139
136
122
168
149
119
97
92
282
143
136
135
176
159
100
90
81
218
142
143
160
200
159
117
101
80
289
141
138
139
181
161
99
89
62
303
144
143
164
197
155
115
98
62
289
142
139
135
179
165
111
81
60
318
145
141
160
199
159
113
103
60
183
144
142
132
177
173
138
76
57
325
148
142
155
205
172
95
90
57
180
149
136
175
173
129
100
57
308
152
143
154
208
165
106
106
57
176
152
152
142
184
167
139
135
57
304
62
136
135
188
154
126
102
55
174
146
3,073
706
60
164
187
52
389
63
1, 452
35
15
7
3,175
610
55
184
146
43
584
75
1,477
58
23
17
3,351
645
56
196
141
50
525
235
1, 503
56
28
12
4,171
830
70
245
174
62
492
420
1.878
70
42
10
3,386
661
57
204
154
45
378
359
1,528
82
55
9
3,322
605
54
203
194
40
346
363
1,517
71
46
7
4,351
825
69
270
228
68
449
440
2,001
59
40
5
3,504
661
56
199
188
71
347
336
1.647
43
28
4
540, 300
445, 669
59,106
360,152
r 89, 576
' 90, 572
46, 888
572, 531
4G8, 007
66,116
366, 756
103, 741
102, 034
57, 890
601,002
487, 982
74, 345
375, 440
115.933
109, 628
63, 668
623,637
501, 343
82, 268
378, 472
123, 484
118,731
77, 691
665, 182
533, 036
91,939
390, 477
141, 703
133, 001
89, 632
683, 807
537, 412
103, 463
399, 292
149, 250
135, 264
89, 243
51,853
.924
3,070
53, 631
.937
3,427
58, 517
.900
3,822
57, 304
.931
4,238
60, 713
.936
4, 765
511. 7
443.0
63.0
445.7
96.1
52.4
584.2
474.8
71.3
471.5
112.7
70.3
617.8
499.4
81.0
486. 5
131.2
87.9
627.4
503.6
79 4
499.5
127.9
84.2
0
100
201
206
401
251
756. 251
585, 252
121, 448
449, 440
177,163
129, 647
140
139
186
138
123
144
59
206
150
134
125
176
140
126
114
58
221
144
126
132
193
122
130
113
56
59
135
134
116
177
137
143
117
59
210
146
124
135
193
117
138
98
55
50
132
135
119
161
130
157
102
57
202
149
130
145
189
129
142
90
58
48
137
141
127
154
135
170
113
61
193
153
4,512
837
71
244
247
118
460
373
2,162
30
17
5
3,236
649
57
164
168
78
356
230
1, 534
53
23
14
2,834
612
57
148
176
63
340
66
1,371
68
35
20
3,531
790
75
172
237
66
421
71
1,698
67
35
20
3,056
705
60
169
203
51
370
55
1, 453
41
19
9
697, 792
546, 791
104, 971
399, 706
143. 455
154,632
105,190
745, 584
537, 612
103, 322
416, 430
144, 439
184, 715
135, 538
690,108
534, 762
108, 060
406, 389
134, 770
148,949
111,310
702, 995
531, 918
119,151
431, 873
100, 271
170, 851
137,101
671, 334
514,316
111, 725
424, 201
141, 829
105, 304
62, 980
663,534
513, 191
107, 224
403. 459
148, 942
106,133
61,819
62, 405
.917
5,395
61,934
.941
5,500
66, 019
.946
5,508
60, 464
.939
5,663
58, 356
.987
6,314
58, 929
.934
5,914
58,102
642. 8
519.4
82.0
518.7
124.0
79.2
668.9
534.2
92.3
539.3
129.5
84.6
662.6
517.9
100.4
534.7
127.9
81.8
660.8
501.9
113.0
533.3
127.5
80.9
722.5
553.5
120.4
563.2
159.3
120.3
708.4
551.0
109.2
553.6
154.9
109.3
710. 4
553.8
107.5
576.6
133.8
92.0
743. 7
576. ]
117.6
591.0
152.8
111.4
584
257
461
247
544
196
436
222
451
140
0
103
10, 847
7,353
8,079
8,451
11,340
3,076
2,884
3,927
3,097
3, 534
428,153 369, 776 240,916 262, 715 283,145
158, 218 144,947 109, 253 116,104 127, 393
8,099
4,375
273,022
125,327
8,408
4,341
273,162
128,329
150 I
138 j
180
158
139
169
58
260
163
133
121
180
149
130
110
56
221
144
W a t e r w a y Traffic
Canals, N e w York S t a t e . - t h o u s . of short tonsRivers, Mississippi (Gov. barges o n l y ) . . . d o . _ . .
Travel
Operations on scheduled air lines:
Miles
flown
thous of milesExpress carried
thous. of lb.
Passengers carried
number...
Passenger-miles
flown
thous. of mi les
Hotels:
Average sale per occupied room
dollars
Rooms occupied
percent of total
Restaurant sales index
1929=100
Foreign travel:
U. S. citizens, arrivals
numberU. S. citizens, departures
do...
Emigrants
do.. .
Immigrants
do . _
Passports issuedcf
do...
National parks:
Visitors
do...
Automobiles
do . .
Pullman Co.:
Revenue passenger-miles
thousands Passenger revenues
thous. of dol.
COMMUNICATIONS
Telephone carriers :J
Operating revenues
thous. of dol.
Station revenues
do.. Tolls, message
do . Operating expenses
do.. _
Net operating income
do . .
Phones in service, end of month_thousands..
Telegraph and cable carriers:t
Operating revenues, total
thous. of d o l . .
Telegraph carriers, total
do
Western Union Telegraph Co., revenues
from cable operations
thous. of dol...
Cable carriers
do Operating expenses
do.
Operating income
do
N e t income
do.
Radiotelegraph carriers, operating revenues
thous. of dol _
11,352
2,560
371,398
139,061
462
225
7,777
7,292
3,974
3,634
240, 705 202,623
112, 488 96,308
7, 508
3,600
3.56
83
140
3.30
70
100
3.64
71
121
3.26
72
121
3.43
71
128
3.45
69
125
3.74
75
143
C. 70
78
134
3.73
80
135
3.79
79
137
3.56
74
132
81
131
3.66
82
136
7,298
6,807
462
1,699
7,923
7, 569
11,145
389
1,673
.12,178
8,745
10,222
532
1,560
6,881
7,459
5,147
585
2,593
16, 244
9,263
4,935
419
2,195
15,042
7,031
5,005
344
1,932
11,635
10,393
4,400
423
2,336
19,128
7,902
5,190
463
2,147
14,667
7,474
5,077
563
1,915
11,173
8,995
5,152
460
1,837
8,247
6,442
4,879
398
1,782
11,628
6,969
5,527
480
1,504
12,679
221, 697 342,043
67,454
98,147
330,540
94,102
210,020
62,910
76,659
24,178
51,976
11,865
13,211
14,638
60, 808
17, 760
94,192 137,187
28, 203 41,196
(a)
1,288,858 1,380,255 1,445,506 1,496,048 1,471,500 1,843,328 1,925,459 1,961,986 1,906,714 1,869,952 2,036,175 1,849,643
8,092
6,935
10,052
9,638
10,080
11,018
10,151
10,444
8,509
10,169
8,903
7,784
130,347 131, 727 133,076 134,216 135, 652 135, 328 138,015
79, 698 80, 264 80,070
78, 897 80,413
80,078
79,415
39,471
40, 207 41,616
44, 666 45,680
42, 379 44,579
84, 365 84, 372 85,655
85, 542 89, 370 86,439
87,832
21,647
21, 596 22, 264 22,167
22,632
21,339
22, 846
21,595
21, 702 21,815
21,888
21, 941 22,048
22,146
142, 864 140,447 146,483
82, 507 81, 576 82, 891
50, 766
46,566
48,161
97,411
89, 260 87,940
24, 310 21, 588
20,337
22, 284 22, 400 22, 544
13,074
11,940
13, 587
12, 553
13, 877
12,824
14, 398
13,151
14, 375
13,296
14, 282
13,254
14,617
13,600
14,956
13, 875
14,250
13,151
15,970
14, 667
14,253
13,138
663
1,134
10,889
918
480
661
1,035
11,188
1,088
572
658
1,053
11,639
905
380
678
1,248
11,718
1,216
787
709
1,080
11,967
958
454
712
1,028
11,932
1,031
501
755
1,018
11,912
1,384
946
819
1,082
12,179
1,336
812
863
1,099
11,625
1,237
658
1,104
1,303
13,182
1,927
947
894
1.115
11, 762
915
1,032
1,108
1.204
993
961
998
1,007
1,184
1,092
a
' Revised. d Deficit.
Discontinued for the duration of the war.
^Data for May, August, October 1942, and January 1943 are for 5 weeks; other months, 4 weeks.
cf Includes passports issued to American seamen.
JSlight revisions have been made in the data for 1941; the revisions are available on request.
S-23
SURVEY OF CURRENT BUSINESS
May 1943
Monthly statistics through December 1941, together with explanatory notes and references
to the sources of the data, may be found in the
1942 Supplement to the Survey
1943
1943
February
CHEMICALS AND ALLIED PRODUCTS
CHEMICALS
Methanol, prices, wholesale:
0.58
Wood, refined (N. Y.)
dol. per gallon..
.28
Synthetic, pure, f. o. b. works
do
Explosives, shipments
thous. of lb_. 39, 337
Sulphur production (quarterly):
Louisiana
long tons _. 139,505
Texas
do
Sulfuric acid, price, wholesale, 66°, at works
16.50
dol. per short ton-.
FERTILIZERS
Consumption, Southern States
1,281
thous. of short tons_.
Price, wholesale, nitrate of soda, crude,
f. o. b. cars, port warehouses«._dol. per cwt_.
1.650
Potash deliveries
short tons,.
Superphosphate (bulk):§
Production
do
Shipments to consumers
do
Stocks, end of month
do
NAVAL STORES
Rosin, gum:
Price, wholesale " H " (Savannah), bulk
dol. per cwt_Receipts, net,3ports
bbl. (5001b.)-Stocks, 3 ports, end of month
do
Turpentine, gum, spirits of:
Price, wholesale (Savannah)f.--dol. per gal._
Receipts, net, 3 ports
bbl. (50 gal.)..
Stocks, 3 ports, end of month
do
OILS, FATS, AND BYPRODUCTS
Animal, including fish oils:
Animal fats:t
Consumption, factory
thous. of lb__
Production
do
Stocks, end of month
do
Greases:!
Consumption, factory
do
Production
do
Stocks, end of month
do
Fish oils:t
Consumption, factory
do
Production
do
Stocks, end of month
do
Vegetable oils, total: t
Consumption, crude, factory
mil. of lb__
Production
do
Stocks, end of month:
Crude
do
Refined
do
Coconut or copra oil:
Consumption, factory: +
Crude
thous. of lb. _
Refined
do
Production:
Crude!
. do
Refined
do
Stocks, end of month:$
Crude
do
Refined
do
Cottonseed:
Consumption (crush)
thous. of short tons__
Receipts at mills
..do
Stocks at mills, end of month
do
Cottonseed cake and meal:
Production
short tons. _
Stocks at mills, end of month
do
Cottonseed oil, crude:
Production
thous. of lb_.
Stocks, end of month
do ...
Cottonseed oil, refined:
Consumption, factory $
do
In oleomargarine
.-do
Price, wholesale, summer, yellow, prime
(N. Y.)
dol. per lb_.
Production
thous. of lb__
Stocks, end of month
do
Flaxseed:
Duluth:
Receipts
thous. of bu._
Shipments
do.
Stocks
do.
Minneapolis:
Receipts
do.
Shipments
do.
Stocks
do-
0.58
.28
36, 453
0.58
.28
41,045
0.58 !
0.58
.28 I
.28
40,545
42,101
110,115
725, 579
16.50
0.58
.28
40,409
0.58
.28
41, 709
148,570
739, 665
163,810
774, 706
16.50
16.50
16.50
0.58
.28
33,392
0.58
.28
35,282
16.50
16. 50
340
1,006
1,325
1.650
67,876
1.650
61,647
1.650
56,586
0.58
.28
42, 571
147,850
645, 380
16.50
16.50
16.50
16.50
169
200
1.650
59, 224
1.650
59, 371
1.650
56,439
1.650
59,846
1,061
678
287
148
1.650
56,386
1.650
44,994
1.650
29, 714
1.650
62,959
480,018
204,855
911,507
431, 634
254, 239
730,135
440,685
147, 473
760,761
453,095
78,577
915,172
445,603 501,592 520,558 504,852 525,960 545,936 546,606
72,332
98,287 150, 599 179, 252 160, 799 126, 632
91,986
,067,747 1,070,785 1,175,835 1,158,092 1,120,646 1,094,877 1,081,061
3.57
7,572
251, 799
3.06
3,733
250,110
2.89
16,353
239,817
2.82
18,449
245,086
2.95
21,686
237,420
3.10
26,872
229,436
2.91
35,415
245, 937
3.30
24,713
250, 079
3.50
18,922
263, 434
3.46
19, 432
267,144
3.43
20,108
277, 546
3.50
7,817
276, 791
3.48
7,728
265,912
.64
1,548
51,321
.67
784
16, 675
4,550
17,010
.55
6,554
17, 758
.57
8,021
22,817
.58
11,466
32,164
.55
10, 421
39, 821
.60
9,290
45, 705
.64
6, 474
49, 525
.64
6,047
51,913
.64
6,806
55,900
.64
2,102
57, 627
.63
1,105
55,071
395, 967
776,542
445,114
379, 256
699, 673
365, 870
104,890
247,889
393,452
120,265
213, 963
368, 527
137,997
220, 217
311, 526
136, 624
223, 747
289,743
108,682
255, 989
286, 358
114, 466
290, 597
306,055
114,315 110,671
263, 560 237,931
295, 350 298,988
125,047
140,105
100,330
135,020
141,187
102,044
39,945
46,259
106,004
46, 245
41,313
107,787
42, 549
42,086
104,028
51, 239
45,084
96, 432
41, 333
45, 693
104,916
44,716
50,942
108, 570
49, 935
45,599
107,104
57,593
45,136
96, 683
i 50,176
i 7,128
171,398
i 42, 798
i 11,713
160, 540
16, 067
10,342
162,869
14, 570
27, 575
178,219
15, 319
27,291
178, 247
14, 496
20, 895
207,131
11,568
23, 845
208,237
16, 549
15, 373
215, 619
13,164
6,420
204, 804
13,890
4,304
204,704
i 1, 048
i 1,018
i 744
1710
210
214
212
212
266
333
342
432
355
419
362
416
332
402
339
359
1895
i 513
i 761
i 521
729
458
726
373
764
312
834
299
354
914
407
922
438
936
438
113, 643
i 49, 437
i 35, 085
i 12, 995
9,316
3,294
10,026
5,218
7,352
2,742
8,058
2,259
7,639
2,151
7,442
3,900
6,132
3,922
7,117
3,423
45, 392
65,072
i 17, 740
i 13,512
(a)
(a)
3, 715
4,289
1,822
9,111
2,370
5,208
2,684
7,472
4,293
8, 362
2,675
8, 924
3,434
135, 790
i 15,131
126, 087
i 10,017
129, 703 128, 602 121,262
6, 988
8,141
9,325
126, 739
7,243
138,142
7,243
134,971
6,415
136,684
5,109
146, 491
4,732
529
738
1,635
1,598
714
833
1,714
652
340
1,401
528
178
1,049
397
107
759
' 32, 083 40, 845 224,921
190,100 133,495 146, 533
330, 025
134,136
317, 338
117, 778
291, 922
92, 672
176,317
58, 800
'64
'28
'82
93
157
145
1.650
54,855
332
61
483
'319
'53
'497
'223
'23
'296
'143
'26
' 179
146, 393
39,853
140, 278
337, 796
' 96, 969
312,038
' 60,675
104, 833
116, 640
102, 449
136, 764
' 71, 931
105, 456
• 46,042 ' 27, 866
• 81, 838 ' 49,901
21, 532
34, 460
28, 233 161, 748
27, 907 90, 601
232, 888
133, 726
217,103
157, 849
200, 882
157, 212
234, 952
75, 866
165, 824
153, 873
292, 882
13, 837
11, 883
10, 235
232, 482
10, 352
90, 054
10, 400
99, 522 129,952
11,312
13, 487
135, 377
15, 612
119,374
19,126
137, 469
21,035
132, 710
30,050
145, 702
26,132
.140
119,766
318, 303
.140
127,483
391, 040
.140
' 98, 801
399,053
.141
' 72, 844
394, 533
.138
' 53, 735
369, 205
.139
.136
.140
36, 328 32, 942 80, 512
310,191 230, 569 199, 396
.137
169,490
201,427
.140
181, 960
254, 713
.140
185,433
300,519
.140
151,406
327,618
.140
134,595
318, 380
10
0
972
5
46
1,026
4
105
925
56
455
527
129
233
423
241
566
98
517
236
379
2,438
750
2,066
2,646
2,398
2,304
828
1,695
1,437
366
887
916
24
0
940
24
2
963
154
2,634
490
144
2,120
585
90
1,078
633
130
447
164
468
5,438
483
835
5,678
465
2, 734
5,564
554
1,320
252
2,535
744
110
2,269
581
186
1,865
627
165
1,288
'25
'118
' 38, 825
249,452
123,138
140,655
i Quarterly data. Data compiled monthly beginning July 1942.
' Revised.
« Not available.
•Price of crude sodium nitrate in 100-pound bags, f. o. b. cars, Atlantic, Gulf, and Pacific port warehouses. This series has been substituted beginning 1935 for the series
shown in the 1940 Supplement; figures beginning August 1937 are the same as published in the Supplement; earlier data are as follows: 1935—Jan.-Dec, $1,300; 1936—Jan. $1,300;
Feb., $1,313; Mar.-Sept., $1,350; Oct.-Dec, $1,400; monthly average, $1,355; 1937—Jan.-June, $1,400; July-Dec, $1,450; monthly average $1,425. Prices are quoted per ton and
have been converted to price per bag.
§Data beginning September 1942 include a certain amount of superphosphate formerly reported in dry base and mixed goods and wet base goods not previously included
with bulk superphosphate. The stock figure as of August 31, comparable with September data, is 1,129,790 tons; no other data are available for comparison. Data are currently reported on an 18 percent A. P. A. basis and are here converted to a 16% basis so that they are comparable with prior figures.
$Data for the indicated series on oils and fats revised for 1941; revisions forfishoils are shown in note marked " | " on p. S-22 of the April 1943 Survey; revisions for all other
series were minor and are available on request.
fRevised series. The turpentine price shown beginning with the April 1943 Survey is the bulk price; data shown in earlier issues represented price for turpentine in
barrels and can be converted to a comparable basis with the current data by deducting 6 cents.
S-24
SURVEY OF CURRENT BUSINESS
Monthly statistics through December 1941, together with explanatory notes and references
to the sources of the data, may be found in the
1942 Supplement to the Survey
1942
1943
March
Mav 1943
March
April
May
June
July
1943
August
September
October
Novem- December
ber
January
February
CHEMICALS AND ALLIED PRODUCTS—Continued
OILS, FATS, AND BYPRODUCTS-Con.
Elaxseed—Continued.
Oil mills:f
Consumption
thous. of bu__
Stocks, end of month
do
Price, wholesale, No. 1 (Mpls.)-dol. per bu._
Production (crop estimate)
thous. of bu_.
Linseed cake and meal:
Shipments from Minneapolis--.-thous. of lb__
Linseed oil:
j
C onsumption, fact or yt
do__
Price, wholesale (N. Y.)
dol. per 1b
Production!
thous. of 1b
Shipments from Minneapolis
do-_
Stocks at factory, end of month
do._
Soybeans:
Consumptionf
thous. of bu
Production (crop estimate)
do...
Stocks, end of month
do...
Soybean oil:
|
Consumption, refinedt
..thous. of lb__j
Price, wholesale, refined, domestic (N. Y.)
dol. per l b . . |
Production:
j
Crudet
thous. of l b . . |
Refined..
do
I
Stocks, end of month:
j
Crude
do
'
Refinedf
do
Oleomargarine:
Consumption (tax-paid withdrawals)f __do
Price, wholesale, standard, uncolored (Chicago)
dol. per lbProductiont
thous. of l b . .
Shortenings and compounds:
Production
thous. of l b . .
Stocks, (Mid of month!..._
do
Vegetable price, wholesale, tierces (Chicago) j
dol. p e r l b . J
PAINT SALES
3.17
.153
170
.165
i
Calcimines, plastic and cold-water paints:
j
Calcimines
thous. of dol _j
Plastic paints.
do
]
Cold-water paints:
j
In dry form
do
j
i
In paste form, for interior use
do
Paint, varnish, lacquer, and fillers:
{
Total.
do__.-|
Classified, total
do.... |
Industrial
do
I
Trade
- - - do
|
Unclassified
do
j
162
43
161 |
51 i
193
49
173 i
32 |
183
412
261 |
466 I
260
594
01/
1,070
!, 617
.,898
i, 719
50,530
44,849
19,009
25, 840
5,681
I
i
'
|
49,204
44, 141
18,140
26,000
5, 064
43. 982
39, 513
17, 082
22, 430
4, 469
103 |
29
117
36
235 I
219
406 j
385
I
42,221 | 41,106
37, 987 i 36,935
17, 173 | 16,748
20,813
20, 187
4,234 ; 4, 170
147 I
33 |
100
45
196 I
410 I
190
481
43,028
37,782
17,243 |
20,540
5, 246
44,122
39, 186
17, 906
21, 280
4.935
r
177
456
104
33
153
394
38, 122 | 37,141
34,315 I 33, 518
n !
16,221 ! 16, 905
18,094 ! 16, 612
3,807 ! 3, 623
104
34
114
45
154
360
37. S43
33, 677
16, 221
17,456
4,166
169
443
38, 392
34, 530
16, 726
17, 804
3, 862
ELECTRIC POWER AND GAS
ELECTRIC POWER
j
Production, total
mil. of kw.-hr . - J 17, 842
By source:
j
> ue 1. _. .
do
I 11,219
Water power
do
; 6, 623
By type of producer:
I
Privately and municipally owned electric \
utilities
mil. of kw ,-hr_ _ j 15, 377
Other I>rocluccrs _ _
. . _ _ _. _. do
j 2, 4(55
Sales to ultimate customers, total (Edison
Electric Institute)
mil. of kw.-hr_
Resident ial or domestic
do_ - Rural (distinct rural rates)
do_._
Commercial and industrial:
)
Small light and power..
do
!.-..__
Large light and power
do
;__
Street and highway lighting
do
I
Other public authorities
do
i
Railways and railroads
do
i
Interdepartmental
do . _ j
Revenue from sales to ultimate customers |
(Edison Electric Institute)
thous. of dol_.:
|
Manufactured gas:
;
Customers, total
thousands _ J
Domestic
do
j
House heating
do
|
.
Industrial and commercial
do _ - _ j
Sales to consumers, total
mil. of cu. ft_.! _ _ _
Domestic
do
|
I louse heating
do
|
Industrial and commercial
do
•
Revenue from sales to consumers, total
|
thous. of doL_;
Domestic
do
i
House heating
do
\
15,053 |
14,588;
9, 438
5,615
S, 979
5, 609
13,322
1,731
12,558
2, 244
168
2, 199
6,828
181
306
560
230,766
12,949 j
1, 639 j
12,536 I
2,139 |
206 I
14,991!
15,182!
10,005!
10,262
9. 632 . 9, 831 < 10, 877 I 10, 946
5, 360 j 5, 352 , 5, 128 j 5. 315
13,320 j 13,394 j 14.047
1, 665 S 1, 788 j 1, 958
12,487
12,670 ! 13, 166 j
2.047
2. 025 ! 2,053 i
216
270 |
335 i
2, 156 I 2, 124 I
6, 988 i 7, 074
158 i
143
294
294
525
520
69
69
I
I
227, 610 | 225, 602 I
14, 047
2,214
13,650
2, 104
386
16,114 ; 16, 753
16,459 I 17,681 • 17,651
10, 895
5, 219
11, 244
5, 509
10, 726 '
5, 733
11, . 571
0. 110
13,804 |
2,310 •
13.712 I
2, 157 i
355 j
14,282
2,470
13,970
2,224
269
14, 086 '
2, 373
15. ''37
2, , 144
14, 097 !
2, 343 :
197
do
i
14. 747
2 522
187
;
I
10, 454
9, 626
343
471
41, 296
17, 629
10, 224
13,129
36, 526
21,663
6,937
7,734
10, 463
9, 621
359
470
38,161
16, 875
7,722
13, 280
10,544 j 10,542
9, 694 j 9, 706
372 ! 359
466 I 466
34,873
31,983
16,534 i 17,125
5,296
2,604
12.794 ! 12,035
! 34, 286
33, 143 ! 31, 245
! 21,574
22.407 | 22,210
i 4,881 I 3,083 I
1,918
j 7,649 ! 7,506 |
6,996
10,608
9,785
344
467
30,383
16,475
1,719
11,919
I 10,656
I 9,830
348
I
466
i
29, 608
i 15, 954
I 1,344
: 12,105
10,688 i 10, 667
9,850 | 9,819
366
387
464
450
31,100
34, 926
17,191
18,152
1,418
3, 296
12, 267 13,195
30. 202
21,740
1,332
7,007
' 29, 656 i 31, 196
33, 978
' 21,375 | 22,574 J 23,576
! 1, 119 |
1,316 |
2,571
I 7,023 |
7, 178 1 7,667
r
Revised.
Quarterly data. D a t a compiled monthly beginning July 1942.
2
Dec. 1 estimate.
t Small revisions have been made in the data for 1941 for the indicated series on oils and oilseeds.
1
1\ 170
2. 4S1
i
2 i 36*i ;
2,160' 2, 247 ! 2,328 2 322
2 272
2, 308 j
948 j
7,205 I 7,482 ! 7, 727 7, 735 ?, 957
8, 1SS
2 u;
132
137 I 151
157
197 .
185
391 j
439
302 I
322 I 365
373
385
671 ,
509 !
522 i 522
523
568 ,
560
92
144 i
66 !
69 !
66
] 5S
118
j
I
240,253 I 243,094 246,749 255,711
227, 057 j 232, 460 | 238, 059
GAS
I n d u s t r i a l a n d commercial
11.2"
6. :-;';<!
Revisions are available on request.
KK641
9,793
394
445
38.572
16,387
8,133
13,725
10, 711
! 9, 852
|
404
!
447
j 46, 128
| 17, 517
j 13, 635
! 14, 561
35, 888 I 40, 166
22.741
23,504
4,767 i 7,812
8, 188 i 8,622
r
16, 110
May 1943
Monthly statistics through December 1941, together with explanatory notes and references
to the sources of the data, may be found in the
1942 Supplement to the Survey
S-25
SURVEY OF CURRENT BUSINESS
March
1943
1942
1943
March
April
May
June
August
July
September
October
Novem- December
ber
February
January
ELECTRIC POWER AND GAS—Continued
GAS—Continued
Natural gas:
Customers, total
thousands _ Domestic
do
Industrial and commercial
do
Sales to consumers, total
mil. of cu. ft._
Domestic
do
Ind'l. com'l., and elec. generation
do
Kevenue from sales to consumers, total
thous. of doL_
Domestic
do
Ind'l. com'l., and elec. generation
do
8,230
7,610
618
171,979
61,451
107, 491
61, 848
37, 312
21, 901
8,272 |
8,286
7, 656
7,676
613
607
152, 971 133,665
33, 400
46, 305
97, 756
105, 232
52, 552
30, 084
22, 253
43, 738
23, 243
20,135
8,242
8,192
7,664
7, 615
574
575
120,783 119,940
23. 898
20,180
94,151
97, 251
8,231
7, 667
562
118,136
18, 485
96, 742
268
702
564
041
558
828
8,340
7,746
591
137, 071
26, 637
107,813
8, 630
7,991
637
159,474
39, 721
116, 754
7,804
661
179,419
56, 292
119,349
34, 909
15, 708
18, 760
33, 754
14, 683
18,695
766
903
424
40, 916
19,122
21,428
50,302
26,017
23,856
61, 922
34, 887
26, 479
5, 770
5, 626
8, 483
705
4 717
8. 253
813
4 699
8 159
36, 893
18, 018
18, 525
FOODSTUFFS AND TOBACCO
ALCOHOLIC BEVERAGES
Fermented malt liquors:f
Production
thous. of bbl..
Tax-paid withdrawals
rio
Stocks, end of month
do
Distilled spirits:
Apparent consumption for beverage purposes
thous. of wine gal..
Production!
thous. of tax gaL
811
Tax-paid withdrawals!
do
10, 056
Stocks, end of month!
do
461, 146
Whisky :f
Production
__do
0
Tax-paid withdrawals
.do
i, 649
Stocks, end of month
do
:,878
Rectified spirits and wines, production, totalf
thou-. of proof gal._
>, 536
Whisky
do.
:, 785
Still wines:f
Production
thous. of wine gaL.
Tax-paid withdrawals
do
Stocks, end of month
do
Sparkling wines:f
Production
do
Tax-paid withdrawals-..
do
Stocks, end of month
do
5 227 !
4^652 '
8,491
4,421
4,236
8,121
5, 778
5, 077
8,947
6,157
5, 990
8, 837
6,212
5, 860
8, 935
6, 803
6,814
8, 651
6, 984
6,864
8,487
13,749
11,066
11,304
542, 881
12,984
9,104
9, 620
543, 525
12, 762
7, 881
9,163
543,095
12, 891
7,331
9, 212
538, 910
15,829
7, 90S
12, 801
537, 737
16,611
6, 893
15,380
529,089
1
19,284 1 26, 421 I 1 13.195 J 15, 480 11,904
876
1, 571
7,528 ! 4,071
6, 526
10,273
16, 596
8. 583 10,100
15,129
521,243 507, 226 499, 350 489,418 479,196
10,515
7.493
520, 762
8, 445
6, 631
521, 485
6.970
5,848
521,017
6,536
6,324
516,919
7,039
8, 585
515, 847
5, 744
10,144
507, 493
4,945
10,068
500,147
6,721
5, 865
4, 758
4, 029
4, 700
3, 982
4, 478
3. 843
6,199 | 7, 548
6,499
6, 652
7, 756
6,753
7,952
6,926
1,843
9, 450
158,030
1,310
8,131
150,019
1,063
7,027
142, 542
555
7,538
133,195
3,542
7,916
124, 765
3, 940
8,416
116,168
19,225
10,747
113,962
85, 753
11,473
142, 851
894
120
33
978
115
44
1,050
44
54
1.037
55
69
1,019
58
93
979
64
121
916
.38
188,665
148, 504
.41
169,620
152,198
.47
. 44
140,130 126,265
86, 981
123, 599
157
6, 587
6, 208
8. 593
5,218
4, 550
8, 565
1
12, 568
1,179
9,054
470, 259
0
6,873
471,026
0
7,114
461,686
0
6,138
453, 387
5,399
4,628
5,177
4, 619
4, 836
4,238
12,458
48, 360
11,498
9, 963
152, 288 141, 403
5, 422
9, 009
132, 012
5, 327
8, 564
122,707
68
119
854
75
159
761
41
65
730
77
62
736
.47
107,480
45, 937
.47
116,735
24, 979
'•.47
122, 880
15,607
.47
121,995
' 12, 327
0
1, 797
5, 656
11,439
487, 550 480,325
4,982 i
4,228
DAIRY PRODUCTS
Butter, creamery:
Price, wholesale, 92-score (N. Y.)_dol. per lb__
Production (factory) t
thous. of lb...
Stocks, cold storage, end of month
_ do
CheesePrice, wholesale, American Cheddars (Wisconsin)
dol. per lb..
Production, total (factory)f
thous. oflb.American whole milkf
do
Stocks, cold storage, end of month
do
Ainerican whole milk.. __
do
Condensed and evaporated milk:
Prices, wholesale, U. S. average:
Condensed (sweetened)
dol. per case.E vaporated (unsweetened)
do
Production, case goods:!
Condensed (sweetened)
thous. of lb...
Evaporated (unsweetened)
do
i
Stocks, manufacturers', case goods, end of mo.:
Condensed (sweetened)
thous. of lb .
Evaporated (unsweetened) . _ __ do
Fluid milk:
Price, dealers', standard grade.dol. per 100 lb_.
Production
mil. of lb_ _
Utilization in manufactured dairy productst
mil. of lb__
Dried skim milk:
Price, wholesale, for human consumption,
U. S. average
dol. per lb._
Production, totalf
thous. of lb,.
For human consumptionf
do
Stocks, manufacturers', end of month, total
thous. oflb_.
For human consumption
...do
.47
140,075
16, 402
.35
135, 920
45,045
.38
149,585
37, 228
.38
203,360
64, 720
.37
2G3,860
117,111
. 233
74, 345
58,035
77, 783
65, 084
.208
• 93, 695
190,158
165,704
.202
105, 880
88,810
208,171
182,613
.202
138, 620
117,085
227, 689
200, 460
. 205
.210
. 202
86,100
131,630 115,385 104,008
70, 675
97,005
87, 225
110,430
261.935 296,763 279,905 259, 078
228,478 261,535 ! 243,596 224, 861
5.84
4.15
5.64
3.02
5. Go
3.55
5. 65
3.52
10,004
252,869
5. 65
3. 50
5. 83
3.66
6. 782 ! 8, 970
9 832
o, i()o
o, bib
o, Ooi
339,522 I 358,443 I 449,330 402,584 '317,007 277| 969
8, 589
226, 695
7,198
77, 807
6. 469
233,550
3.09
9, 759
2.75
9,641
4,353
.138
42,150
40,150
30,652
29, 884
I
8,292
8,178
222,485 ' 294,579
5.65 i
3.49
5. 65
3.49
.271
75, 300
58, 800
195, 378
169,913
.233
60,375
46, 945
93, 379
76, 678
. 233
. 233
. 233
60,155
56,650
57, 660
40, 545
42,040
43,170
153,806 131,398 113,797
97,103
134, 332 112,348
5.83
3.85
5.84
4.15
5.84
4.14
5, 506
* 7, 268
208, 445 163, 648
7, 033
178, 024
8, 250
203, 786
9,820
207,192
5.83
3.75
5.83
3.73
6, 733
4,124
5, 412
7, 445
330, 810 292, 911 211,001 136,985
2, 445
97, 706
2, 586
90, 678
4,226
82, 672
5, 286
94,071
6, 395
89, 499
2.82
9, 498
2.85
8, 903
2.93
8,172
2.95
8,473
3.00
8, 773
3.08
8,380
4, 366
* 3, 931
' 3, 238
3,478
3, 713
3, 705
2.75
10,305
2.75
12,124
2.75
12,555
2.75
11, 765
' 4, 585
r
r
r
6, 546
r 5, 873
' .128
54,070
48, 535
.127
61, 435
55, 800
.126
79, 745
74,330
.127
61,035
56, 330
.129
55,140
51, 435
.132
. 131 i
. 133
29, 010
44,025 i 36,010
27, 310
40, 620
34, 010
.134
32, 000
30,000
.137
30, 800
29, 000
.137
31, 900
29, 200
61,604 j 48, 597
54,855 I 42, 822
41,160
36,331
32,017
28,084
19,063
16,847
17,567
16,066
27, 060
25, 728
27, 729
26, 673
26,164
24,995
5,267 I 11,034
11,105 I 32,706
8,758 S 11,476
7,294
35, 761
12, 227
4, 744 j 3, 840
30,577 j 23, 663
19,231 j 19,005
4,812
r 16, 549
17,242
225,104 I 221,727 I 206,396
I
j
117,796 I 115,810 ! 115.845
188,041 \172,103
1
5,035
6, 700
.126
78, 230
70,615
' 39, 004
47, 459 60, 595
54, 305
'35,510 i 42,378
2.76
10, 766
r
FRUITS AND VEGETABLES
Apples:
Production (crop estimate)
thous. of bu._
Shipments, carlot
no. of carloads..
Stocks, cold storage, end of mo -thous. of bu__
Citrus fruits, carlot shipments, .no. of carloads..
Frozen fruits, stocks, cold storage, end of month
thous. of lb_.
Frozen vegetables, stocks, cold storage, end of
month _
thous. of lb._
Potatoes, white:
Price, wholesale (N. Y.)
dol. per 100 lb_.
Production (crop estimate) t
thous. of bu._
Shipments, carlot
no. of carloads..
4,001 I 3,315
8,207 ! 3,521
20,831 I 19,592
1,840
L259
19,312
783
0
15, 894
696 I
0 I
119,982 ! 101,810 I 106,538 |129,334 i 186,003
61,781 ! 53,416
1.920 ! 1.894
21,989 i 19,827
724
0
12,140 I 9,701
207,767
49,548 j 65,358 j 88,248 I 102,186
2.581 I
2.883 j 2. 919; I 2.150
21,016 ' 2 4 , 4 7 3 ' 11,294"' "9,909
103,333
92, 344
2.275
2.379
1.615 I 1.950 1 2.206
!
J_.
237^150 L14,928 ' 22,564 ' 15,606 ' 15,564
21,048
145, 272
r
74, 821
2.800
21,351
r
2
Revised.
1 Not including data for Georgia beginning October 1942.
December 1 estimate.
! N o t including data for unfinished and high-proof spirits, which are not available for publication. Monthly data for 1941, revised to exclude these items, are shown on
p. S-24 of the February 1943 Survey.
S-26
SURVEY OF CURRENT BUSINESS
Mav 1943
1942
Monthly statistics through December 1941, together with explanatory notes and references
to the sources of the data, may be found in the
1942 Supplement to the Survey
March
I April j May
1943
June
FOODSTUFFS AND TOBACCO—Continued
GRAINS AND GRAIN PRODUCTS
Barley:
Prices, wholesale (Minneapolis):
No. 3, straight
dol. per bu_.
0.86
No. 2, malting
do
Production (crop estimate) t
thous. of bu__
Receipts, principal markets
do
8, 969
Stocks, commercial, end of month
do
Corn:
Grindings, wet process
do
10. 513
Prices, wholesale:
No. 3, yellow (Chicago)
dol. per bu._
1.01
No. 3,"white (Chicago)
do
1.20
Weighted avg., 5 markets, all grades-.do
.96
Production (crop estimate)!
thous of bu._
Receipts, principal markets
do
30, 568
Stocks, domestic, end of month:
42, 326
Commercial
do
Onfarmsf
do
1.395,112
Oats:
Price, wholesale, No. 3, white (Chicago)
dol. per bu._
.64
Production (crop estimate)t-_-thous. of bu_.
Receipts, principal markets
do
8,568
Stocks, domestic, end of month:
6,182
C ommercial
do
508, 208
Onfarmsf
do
Rice:
Price, wholesale, head, clean (New Orleans)
dol. per lb_.
Production (crop estimate)f
thous. of bu_.
California:
Receipts, domestic, rough
bags (100 lb.) _ _ 528, 399
Shipments from mills, milled rice
do
326, 014
Stocks, rough and cleaned (in terms of
cleaned rice), end of mo
bags (100 lb.) _ _ 416, 408
Southern States (La., Tex., Ark., and Tenn.):
Receipts, rough, at mills
thous. of bbl. (162 1b.)..
530
Shipments from mills, milled rice
thous. of pockets (100 lb.)..
1,331
Stocks, domestic, rough and cleaned (in
terms of cleaned rice), end of month
thous. of pockets (100 lb.) - 1,954
Rye:
Price, wholesale, No. 2 (Mpls.).-dol. per bu-_
.83
Production (crop estimate)!
thous. of bu~^
Receipts, principal markets
do
2, 943
Stocks, commercial, end of month
do
20, 458
Wheat:
Disappearance, domestic!..
do
Prices, wholesale:
No. 1, Dark Northern Spring (Minneapolis)
dol. per bu._
1.44
No. 2, Red Winter (St. Louis)
do
No. 2 Hard Winter (K. C.)
do.--Weighted av., 6 markets, all grades.-do
1.41
Production (crop est.), total!---thous. of bu_.
Spring wheat
do
Winter wheat
do
Receipts, principal markets
do
47, 528
Stocks, end of month:
Canada (Canadian wheat)
do
420,863
United States, total It
do
212,131
Commercial
do
Country mills a,nd elevators!
do
174,591
Merchant mills 1
do
327,667
On farms|
do
Wheat flour:
Grindings of wheat
do
Prices, wholesale:
Standard patents (Mpls.)
dol. per bbLWinter, straights (Kansas City)
do
6.20
Production (Census):
Flour, actual
thous. of bbLOperations, percent of capacity
Offal
thous. of lb-.
Stocks held by mills, end of month
thous. of bbl.. _
'0.70
.86
0.71
.88
0.76
.92
4,813 I 6,064
6,344 | 4,541
5,770
8,324
11,228 I 11,023 i 11,067
.82
.97
.81
0.65
0.68 !
.80
.89 i
6,916 I 4,118
3,600 ! 3,015
10, 752
.85
.98
.84
10, 679
.86 !
l.oo !
0.64
.82
18, 872
5,691
0.64
15,566 I 14,963
10,551
11,887
10,749 I 10,642
.84 |
1.02
.86 I
.84
1.06
.85
24,098
30,570 j 25,755
22,448
23, 578
20,126
22,183
60,973
1,289,588
63,363 | 64,408
57,012
761, 363
49, 747
43, 697
38. 641
'423,758
.54
.55
5,253
5,614
5,893
432, 020
4,642
.070
.080
.55
.49 |
.48
.49
.49
|
5,813 | 3,671 6.642 I 16,918
17,414
i
i ' i
3, 776
2,109 | 2,191 5. 132 10.123
1,132,933
2 192,398
!
.073
.070
.070
.069
278, 245 499, 886 437,981 479,241 196.964
162, 316 420, 205 200, 430 398, 201 167, 716
40, 293
69, 944
364, 795 242, 690 299, 986 197, 938
152,048
107, 281
70, 919
105
14
298
253
187
253
1,295
781
844
439
282
677
190, 319
1.19
1.21
1.15
1.14
1.20
1.20
1.15
1.16
109
158
.59
.65
.59
1,269
17, 212
2,508
17, 288
2,393
18, 477
237, 957
3,846
19, 295
17,457
12, 669
17,354
446, 983 420,880 •398,178
810,482
237, 777 229,407 221,804"
181,099
122,461
269,145
1.14
1.19
1.11
1.11
1.14
1.22
1.08
1.10
23,416
61, 645
1.13
1.26
1.11
1.11
43, 407
2,277,332
.54
'1,358,730
6,783
7,456
9,000
* 7, 725
9,771
r
.97
1.09
.92
10, 581
1.15
'.93
35, 929
37, 303
42, 829
48, 769
.59
.60
i, 353
7,894
9,534
887, 575
,649
7, 608
.067
.067
i 66,363
.067
.067
917
630
543,339
383, 414
.59
.70
i 57, 341
1,061
19,889
484,751 I 541,602
319,526 I 290.039
247, 027 457, 565 I 428, 358 367,863 j »• 421, 529
j
I
!, 717
1,297 | 9652,293
I 2,902
2,091
1,730 I 1,009I 1,764 ,947
i
!,787
3,100
2,769 | 2,680
1,908
.61
178,1
1.24
1.30
1.21
1.19
.50
493 394, 062
36, 666 60,150
70
861
17,034
40, 734
.062
.067
471
1,133
17, 240
27, 835
1.08
.85
13,175,154
30, 999 ' 41,389
10,451
198
566
17, 333
1.04 I
0.83
.97
0.80
.96
10, 922 •11,387
.81
1.07
.79
12,106
1,256
1,091
17, 551
.77 i
0.74
.95
^426,150
9,436
9,967
12,154
10, 743
6,209
664
.75
I
11,276 I
0.65
.90
13,125
1. 397
1,885
0.61
- 75 I
.79
802
1,34519,924 I 19,645
212, 806
1.19
1.33
1.20
1.18
1.19
1.38
1.21
1.15
38,951 j 53,694
45,416
1.32
1.48
1.31
1.28
1981,327
1278,074
703,253
32, 261 31,811
1.20
1.32
1.23
1.17
1.39
1.54
1.37
1.36
1.41
1.55
1.37
1.38
35, 398
36,106-
384, 746 390, 572 378,091 386,956 425,614 435,180 447,960 447,094
631,854
1,162,418
1,375,224
224, 441 261,422" 266,149 269, 290 268," 658" 259,487 245,150 230,639
257, 765
142, 583
235,221
96,837
151,927
139,385
163, 584
644,146
494,662
438, 615
38,194
36, 878
36,141
37, 842
41,465
6.17
5.63
5.95
5.40
5.84
5.26
5.51
5.09
5.60
5.01
40,920 | 44,563
5.73 !
5.13 !
5.95
5.45
214,954
47,703 I
43,3
46,069
49, 959
44. 28fr
6.04
5.60
6.09
5.60
6.18
5.60
6.33
6.12
6.35
6.16
i
8,378 I 8,058
55.7 I 53.6
657,985 641,182
4,002
9,075
7,903
8, 279
54.6 |
55.0 60.4
628,939 ! 656,814 718,093
|
| 3,619
8,968 [ 9,793
10,497
59.6 |
67.9 67.4
705,516 ! 765.128 817.014
11,037
9,516 | 10,152
68.8 I
67.9 73.
743,560 ! 787,629
a, 171
9, 780
70.7
752,
936
3,925
3,*
LIVESTOCK
Cattle a n d calves:
Receipts, principal markets
thous. of animals. Shipments, feeder, to 7 corn belt States
thous. of animals. Prices, wholesale:
Beef steers (Chicago)
dol. per 100 lb-_
Steers, stocker a n d feeder ( K a n . City) .do
Calves, vealers (Chicago)
do
r
1,811
1,741
1,815
126 I
119
2,398 ! 2,605
1,684 j
1,953 j
1,831 |
91 !
80 |
74 |
173 j
13.63 !
11.09 !
13.13 i
14.87 i
12.05 i
13.70 I
2,535
1,845
294
2,995 |
486 | 314
180
14.84
11.64
14.00
15.21 | 15.30
11.83 ! 12.62
13.50 ! 13.50
14.85
12.24
13. 50
1,613
1,541
72
i
15.54
14.49
15.00
12. 59
11.47
13.80
13.26 ! 13.22
11.93 [ 12.00
13.13 ! 13.50
13.11
11.83
13.00
14.84
12.67
14.25 j
15.14
13.49
14.63"
Revised.
1a December 1 estimate.
No quotation.
2
Includes old crop only; new corn not reported in stock figures until crop year begins in October and new oats until the crop year begins in July.
^The total beginning June 1942 includes comparatively small amounts of wrheat owned by the Commodity Credit Corporation stored off farms in its own steel and wooden
bins, not included in the break-down of stocks. June figures include only old wheat; new wheat not reported in stock figures until crop year begins in July.
fRevised series. The indicated series have been revised as follows: All crop estimates and corn and oat stocks on farms beginning 1929; domestic disappearance of wheatbeginning 1934; wheat stocks beginning 1926. Revised 1941 crop estimates and December 1941 stock figures are on pp. S-25 and S-26 of the February 1943 Survey; revised 1941
quarterly or monthly averages for all series other than crop estimates are given on pp. S-25 and S-26 of the April 1943 issue, in notes marked "f". All revisions are available on request.
S-27
SURVEY OF CURRENT BUSINESS
May 1943
Monthly statistics through December 1941, to- 1943
gether with explanatory notes and references
to the scurces of the data, may be found in the March
1842 Supplement to the Survey
1942
March
April
May
June
July
1943
August
September
October
Novem- December
ber
January
3,431
February
FOODSTUFFS AND TOBACCO—Continued
LIVESTOCK—Continued
Hogs:
Receipts, principal markets thous. of animals.
Prices:
Wholesale, average, all grades (Chicago)
dol. per 100 lb_.
Hog-corn ratiof
bu. of corn per cwt. of live hogs.
Sheep and lambs:
Receipts, principal markets
thous. of animals.
Shipments, feeder, to 7 corn belt States. .do
Prices, wholesale:
Lambs, average (Chicago)..dol. per 100 lb_.
Lambs, feeder, good and choice (Omaha)
dol. per 100 1b..
2, 694
2,638
2.630 !
15.59
13.37
14.18
14.07
14.19
15.5
16.0
16.9
16.3
16.3
1.738
174
1,860
87
], 866
118
1,855
163
1, 832
105
16. 24
12.00
14. 91
10.92
12. 78
1, 490
907
78
1,282
1, 345
1,046
118
1,338
1,376
941
108
2,452
2,187
2,529 |
2,687
3,310
4,225
14.25
14.37
14.45
14.98
13. 96
14.01
16.9
16.4
18.2
17.7
16.5
ie. o
16. 2
2. 772
387
3, 657
720
3,741 i 2 , 7
452
976
2,379
1, 939
159
1,670
173
14.18
14.60
!
14.10 j
14.30
14.53
12.52
12.94
12.89 '
12.20
12. 35
1,447
1,531
823
112
1.403
1. 447
729
109
1,326
1.329
'607
94
1,406
1,449
519
80
1,413 I
1, 532 !
521
72
1.404
1, 553
579
73
2,896 j
14.75
16.6 i
2. 138
' 135
175
15.39
15.35
15.86 1 15.91
13. 59
14. 26
1.557
1,887
829
86
1, 404
1,632
913
81
1,213
1,380
-956
84
13.12
MEATS
Total meats (including lard):
Consumption, apparent
mil. of lb__
Production (inspected slaughter)
do
Stocks, cold storage, end of month
do
Miscellaneous meats
do
Beef and veal:
Consumption, apparent
thous. of lb_.
Price, wholesale, beef, fresh, native steers
(Chicago)
dol. per lb..
Production (inspectedslaughter).thous. oflb..
Stocks, beef, cold storage, end of mo
do
Lamb and mutton:
Consumption, apparent
do
Production (inspected slaughter)
do
Stocks, cold storage, end of month _.._ _ .do
Pork (including lard):
Consumption, apparent
do
Production (inspected slaughter)
do
Pork:
Prices, wholesale (Chicago):
Hams, smoked
dol. per l b . .
Fresh loins, 8-10 lb. average
do
Production (inspected slaughter).thous. of lb_.
Stocks, cold storage, end of month
do
Lard:
Consumption, apparent
do
Prices, wholesale:
Prime, contract, in tierces (N. Y.)
dol. per lbRefined (Chicago)
do
Production (inspected slaughter).thous. oflb..
Stocks, cold storage, end of month
do
1,328 I
1,374 I
893 !
110
560, 617
598, 990
562, 214
632, 756
606, 544
614, 900
634, 822
675, 290
535, 969
557,014
546, 821
499, 481
.220
534,147
97,127
.200
545, 801
147, 514
.214
566, 213
126, 884
.213
530, 200
99, 075
.210
609, 840
81, 556
.209
606. 516
82, 647
.210
613,620
83, 288
.210
641, 531
95,146
.210
686, 028
116,892
.210
548, 612
130, 454
.216
547,100
127, 034
.220
522, 960
107,185
.220
489, 664
• 102, 246
64, 804
12, 522
73,311
73, 422
8, 180
69, 433
68,331
7,108
62, 497
61,158
5, 711
58, 964
58. 899
5, 313
66, 734
66,916
5, 487
70, 790
72, 821
7.602
83, 407
86, 982
11,260
84, 404
90.733
17,896
72, 380
82, 547
26, 462
r 76, 839
87, 881
34, 819
58, 877
71, 225
24, 885
52, 424
63,412
r 19, 748
il, 478
648, 483
725, 295
669, 803
741,802
702, 864
782, 338
755, 213
861'804
729. 544
773, 247
640, 109
642, 827
687, 628
720. 437
653, 932
755, 565
795,162 923, 282 797, 985
922, 019 1,251,573 1,037,942
660, 876
826, 672
.293
.284
703, 700
590, 858
.315
.262
544, 368
590, 416
.321
.288
567, 754
572, 799
.300
.291
597, 129
559, 849
.295
.293
654, 697
522, 173
.295
.294
582, 774
433, 547
.303
.298
496, 360
336, 634
.325
.310
557, 953
270, 287
.325
.311
590, 541
257, 445
.293
.284
721, 781
291, 841
.293
.284
952, 397
490, 476
.293
.284
793, 048
588, 419
.293
.284
638,132
627, 399
72,194
103,281
86, 333
85, 093
86, 356
82, 097
87,170
66, 631
108, 432
153,448
125, 961
100, 203
.125
.138
132,114
182, 004
.126
.144
126, 877
126, 284
.126
.143
135, 081
117,995
151,017
102,260
. 128
.129
. 139
.139
139,042 106,
98, 349
85, 274
.129
.139
118, 236
62,143
.136
.142
119,978
57, 547
.139
.146
145, 578
57, 434
.139
.146
218,107
91,333
.139
.146
178,549
111,867
.139
.146
137, 304
122, 240
.235
20, 509
139, 677
.230
23,123
96, 716
.218
29, 762
80, 242
.206
32, 493
79, 200
.209
34, 435
79, 346
.224
37, 307
86, 645
.230
46, 666
115,505
.210
58, 910
161,011
.209
78,661
193.263
.234
64,495
187,943
.245
28, 484
142, 002
.245
19,009
101, 741
.283
' 5, 507
.293
6,005
.299
5,782
.304
4,745
.316
4,095
.337
3,547
.351
3,019
.390
2,725
. 390
2, 558
.390
3, 006
.384
3,769
.355
4,577
1,798
107, 397
4,638
159, 585
6,945
223, 831
7.935
278, 499
7,754
290, 529
6, 751
272, 042
5,421 I 3,117
1.170 j
273
234, 876 180, 329 j 126, 321 j 82,948
214
59, 781
'974
' 56, 508
591
471
680
1,006
842
773
635
560
418
269
136
519
366
716
508
510
384
506
378
414
248
732
682
.134
383
.134
850
.134
852
.134
825
.134
1,079
.134
973
.134
795
.134 |
539 j
.134
381
.134
361
.134
703
.134
247
.134
554
.037
.037
.037
.037
.037
.037
.037
.037
.037
.037
.055
.066
.053
.066
.055
.065
.055
.066
.055
.066
.055
.068 I
.055 |
.068
.055
.068 |
.055 |
I
33, 831
28, 914
27,179
22, 830
19,177
20,136
23,962
29, 234
29,217
38, 918
62,160
42, 366
49, 079
48, 682
55,036
49,195
63,411 |
48,887
81,496
49, 307
100,088
40, 021
109, 428
1,961
1,863
2,519
2,269
2, 147
3,640
2,164
2,162
3,642
2, 116
1,940
3, 819
1,860
2,151
3,528
1,962
2.292
3,198
1,715
2,130
* 2, 783
1,712
1,907
2,588
.139
.146
136, 444
127, 744
.127
(a)
POULTRY AND EGGS
Poultry:
Price, wholesale, live fowls (Chicago)
dol. per lb..
.245
Receipts, 5 markets
-thous. of lb._ 14, 290
Stocks, cold storage, end of month
do
58,173
Eggs:
Price, wholesale, fresh firsts (Chicago)t
dol. per doz__
.374
Production
. .millions. _ 6,462
Stocks, cold storage, end of month:
Shell
thous. of cases. _ 3,200
Frozen
thous. of lb_ _ 98, 773
TROPICAL PRODUCTS
Coffee:
Clearances from Brazil, total..thous. of bags.
To United States
do
Price, wholesale, Santos, No. 4 (N. Y.)
dol. per lb._
Visible supply. United States.thous. of bags..
Sugar, United States:
Raw sugar:
Price, wholesale, 96° centrifugal (N. Y.)
dol. per lb_.
Refined sugar, granulated:
Price, retail (N. Y.)
do
Price, wholesale (N. Y.)
do
453 |
348 !
.037
.037
.037
.068
.055
.068
.055
.068
.055
32,099
32, 741
28, 212
29, 676
28, 449
114,198
13, 370
105, 343
15, 733
74, 949
17, 526
52, 831
2,128 i 2,217
2, 050 j 2, 339
2, 666 j 2, 544
2,014
2,054
2,504
1,913
1,927
2.490
2,078
MISCELLANEOUS FOOD PRODUCTS
C a n d y sales b y manufacturers
thous. of dol
Fish:
Landings, fresh fish, prin. ports._thous. of l b _ .
Stocks, cold storage, end of m o n t h J
do
Gelatin, edible:
M o n t h l y report for 7 companies:
Production
do
Sh ipments
do
Stocks
do
r
a
35,665 |
38, 659
115,128
2,147
2, 421
Revised.
No quotation.
% Data compiled by the Department of Labor from a trade journal have been substituted above for the Department of Agriculture's series formerly shown which has
been discontinued. January 1943 figure from the same source, $0,329; February, $0,289; except for the difference in source, the series is the same as that published in the 1942
Supplement.
1 Prior to January 1943, data are as of the 15th of the month.
+ Revised series. Data revised for 1913 through March 1942. Revisions are available on request.
S-28
SURVEY OF CURRENT BUSINESS
Monthly statistics through December 1941, to- 1943
gether with explanatory notes and references
to the sources of the data, may be found in the
March
1942 Supplement to the Survey
Mav 1943
1942
March
April
May
1943
July J August.
June
Jtofe
October
Novem- December
ber
January
| Februj ary
FOODSTUFFS AND TOBACCO—Continued
TOBACCO
Leaf:
Production (crop estimate)
mil. of lb._
Stocks, dealers and manufacturers, total, end
of quarter
mil. of 1b
Domestic:
Cigar leaf
do
Fire-cured and dark air-cured
do
Flue-cured and light air-cured
do
Miscellaneous domestic
do
Foreign grown:
Cigar leaf
do
Cigarette tobacco
do
Manufactured products:
Consumption (tax-paid withdrawals):
Small cigarettes
millions
20, 612
Large cigars
thousands. _ 427, 836
Mfd. tobacco and snuff
thous. of lb._
26,856
Prices, wholesale (list price, composite):
Cigarettes, f. o. b., destination...dol. per l,00C._
6.006
Cigars, delivered
do
(-)
Production, manufactured tobacco:
Total
thous. of l b . .
Fine-cut chewing.
do
Plug
do
i
Scrap chewing
..
do
!
Smoking
_ _.
do
Snuff
do.....
Twist
do
11,417
3,510
1
3,177
i
437
303
2.663
4
426
280
2, 366
4
!
21
81
3. 260 i
1
22
78
1
3,432
381
249
2,519
3
336
242
2 752
3
24
85
92
77
17,016
489, 727
27, 919
17,380 ! 18,455
503,536 | 457,767
27,825
25,181
20, 004
532, 390
27, 807
20, 875
510. 823
27, 013
20, 941
498, 872
25, 329
21. 978
519,976
27, 329
23, 075
633, 350
30,956
20, 447
474, 348
25, 882
19, 716
685, 002
24, 081
20, 370
436, 744
25, 297
17,678
410,599
22, 691
5. 760
46. 592
5. 760
5. 760
46.592 ; 46.592
5. 760
46. 592
5. 760
46. 592
5. 760
46. 592
5. 760
(2)
5. 760
(2)
6. 006
«
6.006
6.006
(2)
6.006
(2)
28,656
411
4, 445
4,117
15,240
3, 916
528
27,745 I 25,950
398 I
420
4 347 | 4 297
3,913 ; 3,768
14, 782 ! 13, 705
3,827 j 3,302
478 1
459
28. 207
29, 443
446
481
4 QS3
4.878
4,047 i 5.243
14,912
15, 025
3, 366
3, 26-1
522
534
26, 475
437
4, 749
4,724
13. 259
2, 799
506
27, 535
437
5,128
4,260
14, 035
3,169
507
29, 845
28, 209
426
425
4 687
5 036
4, 624
4, 033
15,980 1 15.247
3,252 ! 3,297
526 '
522
25, 636
429
4 061
3.795
13,046
3,783
522
26, 273
413
4, 684
3. 676
13,317
3, 681
503
LEATHER AND PRODUCTS
HIDES AND SKINS
Livestock slaughter (Federally inspected):
Calves
thous. of animals
Cattle
. . do..
Hogs
do
Sheep and lamb
do. _ _
Prices, wholesale (Chicago):
Hides, packers', heavy, native steers
dol. per lb.
Calfskins, packers', 8 to 15 lb
do..__
410
923
4, 661
1, 495
471
885 !
4,320 j
1,475 !
475
1, 039
4, 554
1,481
461
1, 048
3, 886
1,705
. 155
.218
. 155
.218
.155
.218
.155
.218
1. 006
2. 692
4, 327
4. 532
989
2, 590
3, 637
1,031
2, 549
3, 498
4.514
491
929
4,134
1, 669
502
956
4, 196
1,570
. 155
.218
1. 040
2, 639
4, 419
4,444
460
1,103
3, 223
1,840
513
1. 159
3, 843
2, 923
155
218
* 578
1,280
4,218
2,344
! 501
476
| 1,018 982
I 5,023
6, 778
j 2,126 2,175
. 155
.218
.155
.218
. 155
.218
1. 009
2. 460
2, 660
4, 860
1, 045
2, 647
3, 169
4, 543
.440
.440
340
928
5,431
1, 724
. 155
- 218
331
854
4,335
1, 499
. 155
.218
LEATHER
Production:
Calf and kip
_ _
Cattle hidest
Goat and \cidt
Sheep and lambf
Prices, wholesale:
Sole, oak, bends (Boston)f
Chrome, calf, B grade, black,
thous. of skins
thous. of hides..
thous. of skins..
do
j
.440 I
dol. per l b . .
composite
dol. per sq. ft,.
Stocks of cattle hides and leather, end of
month:!
Total
thous. ofequiv. hides..
Leather, in process and
finished
do
Hides, raw
do
LEATHER
1
j
4, 989
i
.529 j
14. 294
8, 947
5.347
13.657
8. 933
4. 724
.440
.529
1,093
2,402
2,433 !
4 287
.440
440
440
440
. 529
.529
529
529
12 519
8, 639
3. 880
12, 590
8,623
3. 967
12,930 I 12.485
8,951
8. 789
3,979
3.696
13, 217
8, 933
4,284
j
4 150
1,073
2,647
2, 933
4,462
!
|
I
I
i
.440 !
969 !
973
2,451 j r 2, 436
3.017 ! * 2, 984
4,844 | 5, 033
.440 j
.529
12, 597
8, 680
3,917
12, 429
8,652
3, 777
.440
.529
12, 225
8, 591
3,634
11. 964 •11.827
8. 420 rr 8 , 174
3,544
3, 653
MANUFACTURES
Gloves a n d mittens:
Production (cut), total
dozen pairs._
Dress and seraidress
do
Work
do
Boots, shoes, and slippers:
!
Prices, wholesale, factory:
|
M e n ' s black calf blucher
dol. per pair..)
M e n ' s black calf oxford, corded tip
do
I
Women's colored, elk blucher
do
j
Production, boots, shoes, and slippers:
I
Total
__ thous. of pairs.-|
Athletic
do
j
All fabric (satin, canvas, etc.)
do
j
P a r t fabric and part leather
do
I
High and low cut, leather, total
do
Government shoes
do
Civilian shoes:
Boys'-and youths'
do
In (an t s'
do
Misses' and children's
do
Men's
do.
Women's
do_
Slippers and moccasins for housewear
thous. of pairs. _ |
All other footwear
do
i
r
.440
1,029
2,401
2,735
053
616
045
147
1
2
3
4
283, 112 I 296,553 | 313,765
180, 237 ! 183. 210 | 198, 438
102.875 113,343
115,327
6.75
4. 00
(3)
6. 40
4. 60
3. 60
6. 75
4.65
3.00
6. 75
4.61
3.60
45, 487
576
643
1,247
38, 486
2, 954
45, 816
620
535
1, 056
38. 539
3, 869
40, 982
512
478
892
34,196
3,614
1,474
2,340
3,810
9,625
18, 282
I 1, 536
j 2, 372
! 3, 751
| 9, 698
! 17, 314
1, 422
2, 187
3,344
8. 530
15,098
3.399 ! 3,657
1, 137 i 1. 410
3, 621
1,283
289. 850
178,452
111,398
295, 243 I272, 256 268, 191 295, 715 260, 337 274, 695
177,707 159, 056 150,056 166. 831 146,021 156, 680
117,530 1J3. 200 117, 535 128, 884 114,316 118,015
6. 75
4. 60
3. 60
6.75
4.60
3.60
6.75
4. 60
3.60
!
39,094 | 41,800
492
460
395
147
555
671
33,411
36. 022
3, 675
3, 763
38,812
424
175
613
33, 054
3,879
37, 119
460
227
39, 986
475
368
1,007
33,041
3,960
1,467
2,124
3, 603
8, 263
14,280 j
1,401
2,136
3,224
7,410
15,003
6. 75
4.60
3. 60
6. 75 i
4.60 !
3.60
1.571
2, 161
3,602
8, 552
16, 374
3,823 | 3, 850
1,018 i
650
3
31,092
3, 333
1, 379
1, 549
2,079
2,048
3,080 | 3, 259
7,561
8, 310
13.660 j 13,916
4,083 ! 4, 219 !
462 !
395 i
4,447
647
6.75
4.60
3.60
6.75
4. 60
3.00
6.75
4.60
3.60
6.75
4.60
35, 247
415
305
901
28. 974
3, 424
38, 501
453
317
1, 003
32, 351
3,831
37. 504
341
899
801
31, 992
3, 913
37, 583
327
1,144
700
31, 567
3, 960
1,164
2,003
2,743
7,119
12, 521
1,323
2, 101
3, 236
7,814
14, 047
1, 630
2,095
2,773
7,086
14, 49(3
1, 485
2, 019
2,787
7, 133
14.183
3, 989
664
3,682
695
2,749
722
3, 097
748
Revised.
December 1 estimate.
2 N o t available; data are being revised.
N o quotation.
f Revised series. T h e price series for sole oak leather is shown on a revised basis beginning with the October 1942 Survey; revisions beginning July 1933 are available on
request. D a t a on production and stocks of leather revised beginning Jan. 1942. Revisions not shown above (February appears in the April 1943 issue) are as follows: Production—cattle hides, Jan., 2,672; monthly average, 2,569; goat and kid, Jan., 4,231; monthly average 3,427; sheep and lamb, Jan., 4,158; monthly average, 4,469. Stocks—total,
Jan., 15,148; monthly average, 13,250; leather in process and finished, Jan.. 8,965; monthly average, 8,802; raw, Jan., 6,183; monthly average, 4,447.
S-29
SURVEY OF CURRENT BUSINESS
May 1943
Monthly statistics through December 1941, to- 1943
gether with explanatory notes and references
to the sources of the data, may be found in the March
1942 Supplement to the Survey
1942
March
April 1
May
June
July
1943
August
September
October
Novem- December
ber
January
February
LUMBER AND MANUFACTURES
i
LUMBER—ALL TYPES
National Lumber Manufacturers Assn.:f
Production, total
mil. bd. ft._
Hardwoods
do
Softwoods
do
Shipments, total
do
Hardwoods
do
Softwoods
do
Stocks, gross, end of month, total
do
Hardwoods
do
Softwoods
do
2,497
440
2,057
2,803
458
2,345
6,310
1,986
4,324
2,771
473
2,298
3,188
470
2,718
5,960
1,991
3,969
2.766
431
2,335
3, 035
496
2,539
5, 720
1, 925
3, 795
2,924
423
2,501
3,108
501
2, 607
5,536
1, 846
3,690
3, 051
465
2,586
3,296
538
2,758
5,283
1,773
3,510
2,939
471
2,468
3,060
510
2,550
5,152
1,734
3, 418
2,845
451
2,394
2, 975
523
2,452
5, 048
1, 662
3,386
2,794
442
2,352
2, 936
541
2,395
4,899
1, 563
3,336
2,398
410
1,988
2,564
490
2,074
4,761
1, 485
3,276
2,083
381
1,702
2,364
434
1,930
4,413
1, 432
2, 981
1.900
'384
1,516
2,213
465
1,748
4,129
1, 350
2, 779
1, 976.
388
1, 589
2, 222
438
1,784
3, 950
1,329
2,621
8, 575
10, 550
7, 275
7,500
14, 000
7,300
10,125
7,500
7,700
13, 850
7,200
8,750
7,150
8,850
12, 000
7,875
8, 950
7,625
7,675
12,100
7,325
8, 650
7,500
7,675
12, 000
6,950
8,100
6,850
7,500
11,500
5, 900
7,200
8,000
6,950
12, 500
6,000
5,700
6,500
7,500
11, 500
5,850
5,500
7,250
6,300
11, 275
6,600
6,150
5,050
5, 750
10, 650
6,900
6, 550
5, 500
6, 300
9,800
5, 8507,400
4,500
5,050
9, 450
34,
45,
38,
37,
59,
32, 560
42, 673
40, 656
37, 027
63,333
27, 732
37, 488
36, 283
32, 917
66, 699
17,911
30, 479
30, 562
24, 920
72, 341
17,616
24, 957
• 26, 491
22, 720
27, 771
19, 288
18, 906
76,422
22, 609
22, 631
18,633
21,214
73, 841
23, 249
19,101
20,174
26, 779
65, 236
18,
19,
18,
18,
63,
17, 641
20, 053
18, 007
17, 064
64, 506
15, 797
20, 824
15, 948
15,026
65, 428
29, 612
27,626
15, 535
19, 810
51,153
FLOORING
Maple, beech, and birch:
Orders, new
Orders, unfilled, end of month
Production
Shipments
Stocks, end of month
Oak:
Orders, new
Orders, unfilled, end of month
Production
Shipments
Stocks, end of month
M bd. ft_.
do
do
do
do.-.
do
do
do
do
do
32, 295
33, 637
17, 806
26, 284
42, 675
SOFTWOODS
Dousrlas fir:
Prices, wholesale:
Dimension, No. 1, common, 2 x 4—16
dol. per M bd. ft-. 32.340
Flooring, B and better, F. G . , l x 4, R. L.
dol. per M bd. ft-. 44.100
Southern pine:
Orders, newf
mil. bd. ft_.
Orders, unfilled, end of month
do
Prices, wholesale:
Boards, No. 2 common, 1 x 8
dol. per M bd. ft.. 32. 000
Flooring, B and better, P. G., 1x4..do
55. 000
Production!
mil. bd. ft-.
Shipments!
do
Stocks, end of month
do
Western pine:
460
Orders, new
do
Orders, unfilled, end of month
do
565
Price, wholesale, Ponderosa, boards, No. 3
31.47
common, 1x8
dol. per M bd. ft..
350
Production f
mil. bd. ft-.
438
Shipments t
do
853
Stocks, end of month f
do
West coast woods:
Orders, new t
do
Orders, unfilled, end of month
do
Production f
do
Shipments f
do
Stocks, end of month
do
Redwood, California:
Orders, new
M bd. ft_
Orders, unfilled, end of month
do
Production
do
Shipments
do
Stocks, end of month
do
972
481
691
588
704
21, 071
76, 763
626
476
400
251
563
32. 340
32. 340
32. 340
32. 340
32.340
32. 340
32. 340
32.340
32. 340
32. 340
32. 340
32. 340
44.100
44.100
44.100
44.100
44.100
44.100
44.100
44.100
44.100
44.100
44.100
44.100
936
940
957
943
758
887
794
871
826
840
731
793
740
794
755
818
600
736
615
726
721
771
653
747
30.770
53. 798
749
854
1,202
30. 000
55. 000
759
954
1, 007
30.000
55.000
745
814
938
30.000
55.000
753
810
881
30. 000
55.000
807
857
831
30. 000
55. 000
738
778
791
30. 000
55.000
706
739
758
30. 000
55.000
705
731
732
30. 000
55. 000
675
682
725
30.000
55.000
640
625
740
30. 000
55. 000
635
676
699
32. 000
55. 000
657
677
679
482
473
684
614
575
635
664
671
597
626
564
578
586
562
640
578
474
566
439
539
370
512
397
542
31.52
374
474
1,311
31.04
484
543
1,252
31.35
522
553
1,221
31.51
691
628
1,284
31.36
695
642
1,337
31.53
666
612
1,391
31.53
637
602
1,426
32.01
650
615
1,443
31.38
432
486
1,389
31.83
343
466
1,192
31. 54
244
374
1,062
31.36
246
367
941
765
891
717
771
929
1,062
1,029
819
939
875
977
1,097
825
893
835
867
1,067
806
887
756
1,075
1,171
818
945
622
842
1,145
820
858
572
847
1,150
812
830
578
711
1,095
757
768
578
684
1,106
669
673
596
580
1,057
524
624
497
513
1,063
459
506
474
529
1,045
506537
463
55,
75,
38,
43,
240,
566
009
808
560
342
39,445
39,407
64,152
66,073
37,960 37, 397
46, 562 41, 205
228,068 220, 602
44, 631
65,359
41, 666
43,307
213,124
50, 047 58,135
73,137 87,154
42, 008 38, 790
46, 673 48, 647
207, 588 195, 721
44,983
88, 086
38, 462
48. 738
182, 697
58,278
90,997
41,163
51, 567
170,197
44, 868
91, 542
35, 399
40,979
163,457
38, 864
85,128
33,571
38,830
158,153
42,188
88, 984
31, 946
35, 030
155,145
46,176
96, 319
31,198
41, 734
144, 593
FURNITURE
All districts:
Plant operations
percent of normal-.
Grand Rapids district:
Orders:
Canceled
percent of new order.
New
no. of days' productionUnfilled, end of month
do
Plant operations
percent of normal..
Shipments
no. of days' production..
Prices, wholesale:
Beds, wooden
1926 = 100Dining-room chairs, set of 6
do
Kitchen cabinets
do
Living-room davenports
do
Steel furniture (see Iron and Steel Section).
79.0
78.0
78.0
74.0
72.0
72.0
74.0
73.0
67.0
66.0
67.0
8.0
18
50
75.0
25
5.0
29
58
79.0
21
10.0
23
53
78.0
22
8.0
21
50
75.0
20
5.0
23
52
73.0
19
4.0
' 25
55
60.0
18
5.0
30
63
51.0
20
2.0
26
58
58.0
26
8.0
24
54
69.0
26
7.0
22
46
73.0
25
2.0
56
85
71.0
21
5.0
25
89
72.0
21
101.0
118.9
102. 6
104.2
101.0
118.9
102.6
104.2
101.0
118.9
102.6
104.2
101.0
118.9
102.6
104.2
101.0
118.9
102.6
104.2
101.0
118.9
102.6
104.2
101.0
118.9
102.6
104.2
101.0
118.9
102.6
104.2
100.0
118.9
102.6
104.2
101.0
118.9
102.6
104.2
100.9
118.9
102.6
104.2
100.9
118.9
102.6
104.2
69.0
6.0
23
91
74.0
22
0)
118.9
102.6
0)
METALS AND MANUFACTURES
IRON AND STEEL
Iron and Steel Scrap
4,680
5,031
5,342
5, 037
4,930
5, 006
4,955
5,015
5,156
5,225
5,000
5 221
Consumption total *
thous. of short tons
2, 600
2,779
2,856
2,796
3,034
2,792
2,812
2,846
2,932
2,763
2,919
Home scrap *
do
2,956
2,080
2, 258
2,175
2,134
2,308
2,214
2,109
2,237
2,293
2,237
2,203
Purchased scrap *
__ .
__ do
2,265
6, 209
6,274
6, 233
6,078
4,579
5,530
3,682
3,972
4,993
4,297
4,780
Stock, consumers', end of mo., total * do
3, 460
1,699
1,653
1,544
1,286
1,460
1,105
1,185
1, 337
1,077
1,114
1,600
Home scrap *
do
1,388
4,674
4,510
4,534
4,580
3,112
3,605
4,070
2,895
3,293
3,443
Purchased scrap *._ . . _ .
do. ._
2,346
2,577
r
l
Revised.
No quotations.
f Lumber statistics for 1941 and 1942 have been revised to data from the 1941 Census of Forest Products. Revisions have been made also in earlier figures for total lumber
stocks, hardwood stocks, and softwood stocks, and new orders, production, and shipments of west coast woods; see pp. 27 and 28 of the March 1943 issue.
* New series. The data on scrap iron and steel and pig iron consumption and stocks are estimated industry totals compiled by the U. S. Department of the Interior, Bureau of Mines. Data for January-October 1941 are shown on p. S-30 of the April 1942 Survey. For available 1939 and 1940 data, see note marked "*" on p. S-29 of the November 1942 issue. Consumers' stocks of pig iron include suppliers' and producers' stocks.
S-30
SURVEY OF CURRENT BUSINESS
Monthly statistics through December 1941, to- 1943
gether with explanatory notes and references
to the sources of the data, may be found in the March
1942 Supplement to the Survey
May 1943
1942
April j May
March
June
July
1943
August
September
October
January
Novem- December
ber
February
METALS AND MANUFACTURES—Continued
IRON AND STEEL—Continued
Iron Ore
Lake Superior district:
Consumption by furnaces. _thous. of long tons..
Shipments from upper lake ports
do
Stocks, end of month, total
do
At furnaces
do
On Lake Erie docks
do
7,109
793
20,190
17, 561
2,629
7,007
7, 857
20, 065
17, 536
2,529
7,230
12,677
25,199
22, 310
2,889
7,034
12, 625
30, 931
27, 664
3,267
7,176
13, 405
37, 327
33, 289
4,038
7,155
13, 236
43, 236
38,124
5,112
7,140
11,848
48, 422
42, 548
5,874
7,599
11,417
52,667
45, 883
6,784
7,456
7,582
53, 703
46, 552
7,151
7,759
636
47, 424
40,604
6,821
7,765
0
39, 743
33, 815
5,927
7, 104
0
32, 743
27. 642
5,101
62, 979
69, 737
65, 866
60, 398
71, 256
68, 459
54, 219
60, 696
61, 783
55, 032
59, 990
59,144
63, 651
61, 434
59,120
63, 978
56, 304
56, 651
87, 697
61, 021
58, 977
70, 907
68, 251
65, 457
74, 080
59, 287
58, 484
93,824
66,177
63, 703
73, 524
63, 572
59, 557
88, 970
66, 401
67, 895
Pig Iron and Iron Manufactures
Castings, malleable:
Orders, new, net
short tons..
Production
do
Shipments
do
Pig iron:
Consumption*
thous. of short tons..
Prices, wholesale:
Basic (valley furnace)
dol. per long ton..
Composite
do
Foundry, No. 2, Neville Island*
do
Production*
thous. of short tons..
Stocks, consumers', end of month*
thous. of short tons..
Boilers, range, galvanized:
Orders, new, net
number of boilers._
Orders, unfilled, end of month
do
Production
do
Shipments
do
Stocks, end of month
do
Steel, Crude and Semimanufactured
Castings, steel, commercial:
Orders, new, total, net
short tons..
Railway specialties
do
Production, total
do
Railway specialties
do
Steel ingots and steel for castings:
Production
thous. of short tons...;
Percent of capacity §
Prices, wholesale:
Composite, finished steel
dol. per lb.
Steel billets, rerolling (PiUsburgh)
dol. per long ton__
Structural steel (Pittsburgh)
dol. per lb..
Steel scrap (Chicago)
dol. per long ton. _
U. S. Steel Corporation, shipments of finished steel products
thous. of short tons..
Steel, Manufactured Products
Barrels and d r u m s , steel, heavy types:
Orders, unfilled, end of m o n t h
thousands..
Production
do
Percent of capacity |
Shipments
thousands. _
Stocks, end of m o n t h
do
Boilers, steel, new orders:
Area
thous. of s q . f t . .
Quantity
number..
F u r n i t u r e , and shelving, steel:
Office furniture:
Orders, new, net
thous. of dol. J
Orders, unfilled, end of m o n t h
do
I
Shipments
do
|
Shelving:
j
Orders, new, net
do
i
Orders, unfilled, end of m o n t h
do
j
Shipments
do
|
Porcelain enameled products, s h i p m e n t s !
j
thous. of d o l . .
Spring washers, shipments
do
!
NONFERROUS METALS
Metals
Prices, wholesale:
Aluminum, scrap, castings (N.Y.) dol. per lb.
Copper, electrolytic (N. Y.)
do...
Lead, refined, pig, desilverized (N.Y.). do
Tin, Straits (N. Y.)
do...
Zinc, prime, western (St. Louis)
do...
Miscellaneous Products
Bearing metal (white-base antifriction), consumption and shipments, total (59 manufacturers)
thous. of lb.
Consumption and shipments, 37 mfrs.:
Consumed in own plants
..do...
Shipments
do.
Sheets, brass, wholesale price, mill..dol. per lb..
T
5,100
4,944
5,030
4,869
4,959
4,935
4,836
5,145
4,883
5,001
5, 057
4, 661
23.50
24.17
24.00
5,056
23.50
24.20
24.00
4,897
23.50
24.20
24.00
5,074
23.50
24.20
24.00
4,936
23. 50
24.20
24.00
5,051
23. 50
24.20
24.00
5,009
23.50
24.20
24.00
4,937
23.50
24.20
24.00
5, 237
23.50
24.20
24.00
5, 084
23.50
24.23
24.00
5,201
23.50
24.23
24.00
5,211
23.50
24. 23
24.00
4,766
1,286
1, 232
1,221
1,257
1,296
1,272
1,284
1,266
1,334
1,425
1,458
1, 534
62, 010
76, 750
64,847
62, 450
19, 841
38,014
68, 884
42, 427
45, 880
16,388
31,458
62, 709
33, 627
37, 633
12, 382
30, 481
52, 652
39,171
40, 538
11,015
22, 955
34. 672
40. 181
40, 935
10, 561
46, 025
39, 324
40, 454
41, 373
9,646
41, 779
35, 879
43, 410
45, 224
7,832
43, 829
42, 597
35, 681
37, 111
6,402
40,130
45, 737
37, 353
36, 990
6, 765
33, 700
36, 474
42, 913
42, 963
6,715
55, 239
56, 687
M l , 266
40, 926
' 7, 259
58, 646
66, 704
47, 919
48, 629
6, 549
191,195 199,619
26, 558 11,025
149. 625 131.492
45,158
25, 644
211,081
43,997
146. 507
48,335
7,670
100
r
j r 7, 392
7,121
' 7, 383
98
208,
11,
132,
21,
885
218
053
658
'7, 015
96
202, 334 141,239
3,610 i-13,480
135, 700 139,184
16,251
12, 988
r
7,145
95
>• 7, 2 2 8
95
177,478 179,537 172,862
9,278
13, 546
7, 708
139, 774 152,080 139,213
12, 051
13, 979 10,744
T
7, 058
'96
' 7, 580
100
r
7,180
172,263 ('•206,737 I 191,214
15,446 ! 23,008
17,649
143, 860 ' 149,368
144. 586
10,785
11,428
12,823
r
7, 305
97
r
7, 424
r
6, 826
.0265
.0265
.0265
.0265
.0265
. 0265
.0265
.0265
34.00
.0210
18.75
34.00
.0210
18.75
34.00
.0210
18.75
34.00
.0210
18.75
34.00
.0210
18.75
34.00
.0210
18.75
34.00
.0210
18.75
34.00
.0210
18.75
34.00
.0210
18. 75
34.00
.0210
18.75
. 34. 00
.0210
18.75
34.00
.0210
18.75
34.00
.0210
18.75
1,781
1,759
1,834
1,774
1,766
1,704
1,788
1,666
1,850
1,686
1,692
4,201
2,005
103.6
1,990
60
1,893
2,416
132.4
2,420
29
1,797
2,067
113.3
2,046
50
1,551
1,780
97.6
1,796
34
1, 652
1,749
95.9
1,741
42
1,402
1, 760
96.5
1,760
42
1,506
1,536
84.2
1,538
40
1,704
1,838
100.7
1,823
56
1,215
1,498
82.1
1,504
49
1,671
1,388
76.0
1,386
2,696
1,426
78.2
1,419
56
3,448
1,269
65.6
1,279
48
4,139
1.574
81.3
1,595
45
1,211
1,029
9,636
2,699
3,663
1,558
3,192
1,308
2,130
1,162
2,298
1,076
1,812
888
3,956
2,338
2,772
1,086
1,914
874
2,201
819
2.464
917
596
733
381
2,318
513
3,751 ! 2,551
5,530 j 3,951
4,560
4,130
2,817
3,119
4,204
1,203
1,820
2,256
1,707
1,744
1,784
1,278
1,898
1,124
537
1,456
979
379
1,279
554
443
1,223
499
583
1,345
460
269
1,254
361
1,587
2,449
392
63
43
84
1,510
1,870
1,130
1,418
2,273
1,015 j
1,606
2,763
1,115
1,459
2,788
1,434
638
2,385
1,040
* —225
1,565
596
i -512
935
118
i -379
393
158
74
323
144
52
239
135
86
203
122
42
' 163
48
2,603
5,841
341
5,560
334
4,521
317
4,239
302
4,023
324
3,357
317
3,104
321
3,195
382
2,652
336
2,489
353
2,460
334
2, 324
300
.0813
. 1178
. 0650
.5200
.0825
.0875
.0875
.1178 i .1178
.0650
.0650
.5200
.5200
.0825
.0825
.0875
.1178
.0650
.5200
. 0825
.0875
.1178
.0650
.5200
.0825
.0875
.1178
.0650
.5200
.0825
.0875
.1178
.0650
.5200
.0825
.0875
.1178
.0650
.5200
.0825
. 0857
.1178
.0650
.5200
.0825
. 0813
.1178
.0650
.5200
. 0825
.0813
.1178
.0650
.5200
.0825
.0813
.1178
.0650
.5200
.0825
.0813
.1178
.0650
. 5200
. 0825
4,175
4,599 |
3,578 j 3,541
3,163
3,605 I
2,907
3, 296
3,459
3 176
3, 605
3,453
r
544
2,262
594 i
2,198 !
. 1951
667 :
1,484 i
.195j
463
1,646
.195
657 i
1,826 |
.195;
649 j
1,310 I
.195!
699
1, 453
.195
744
1,760
.195
596
1 623
.195
528
1, 970
.195
641
1,526
.195
* 513
' 2,013
.195
I
528
1,711
.195
.0265
.0265
3, 687
Revised.
i Cancelations exceeded new orders by the amount shown above as a negative item.
§ Beginning January 1943, percent of capacity is calculated on annual capacity as of Jan. 1,1943, of 90,288,860 tons of open-hearth, Bessemer, and electric steel ingots and
steel for castings; earlier data are based on capacity as of Jan. 1 or July 1, 1942, see note in October 1942 Survey.
1 Based on 25 working days per month of one 8, 9, or 10-hour shift, whichever is normal in the respective plant. As some plants operate more than one shift, this results
for some months m a ratio of production to capacity in excess of 100 percent.
X Of the 99 manufacturers on the reporting list for Jan. 1, 1942, 23 have discontinued shipments of these products for the duration of the war.
* New series. For sources of earlier data on pig iron consumption and stocks and a description of the data see note marked "*" on p. S-29. The new series on blast furnace
production of pig iron, including blast furnace ferro-alloys, is from the American Iron and Steel Institute and is approximately comparable with data from the Iron Age in the
S-31
SURVEY OF CURRENT BUSINESS
May 1943
Monthly statistics through December 1941, to- 1943
gether with explanatory notes and references
to the sources of the data, may be found in the March
1942 Supplement to the Survey
1942
March
April
May
June
July
1943
August
September
October
Novem- December
ber
January
February
METALS AND MANUFACTURES—Continued
MACHINERY AND APPARATUS
Blowers and fans, new orders
thous. or d o l . .
Electric overhead cranes:
Orders, new
do
Orders, unfilled, end of month
do
Shipments
do
F o u n d r y equipment:
New orders, net total
1937-39=100.New equipment
do
Repairs
do.
Fuel equipment and heating apparatus:
Oil burners:
Orders, new, net
number..
Orders, unfilled, end of m o n t h
do
Shipments
do
Stocks, end of m o n t h
do
Mechanical stokers, sales:f
Classes 1, 2, and 3
do
Classes 4 and 5:
N u m b e r . , - ..
Horsepower
Unit heaters, new orders
thous. of dol_ _
Warm-air furnaces, winter air-conditioning
systems, and equipment, new orders
thous. of d o L . .
Machine tools, shipments *
do
P u m p s and water systems, domestic, shipments:
Pitcher, other hand, and windmill p u m p s
units..
Power pumps, horizontal type
do
Water systems, including p u m p s
do
P u m p s , steam, power, centrifugal, and rotary:
Orders, new
thous. of doL_
22, 500
10, 295
13, 658
10, 685
9,624
28, 563
2,577
6,378
32, 265
2,561
6,236
34, 471
2,511
2,835
34,190
2,768
4,058
34,958
2,722
3,355
35,072
2,701
1,160
32,883
3,002
2,170
31,436
3,030
1,228
29,118
2,912
551
26,413
3,112
1,581
25, 358
2,534
502
22, 699
3,131
562.7
538.6
635.2
1,122. 3
1. 352. 7
428.8
1, 033.8
1, 233. 7
432.1
653.6
730.2
423.3
774.0
884.4
441.5
800.8
909.1
474.0
510.8
536.7
433.0
446.4
452.4
428.4
540.6
552. 2
505.5
338.8
286.1
497.7
382.5
319.8
371.3
429.8
394.9
534. 9
399.5
348.1
554.4
6,347
23,146
7,361
35,429
14,844
17, 051
14,412
29, 947
10,883
16, 334
11, 600
34, 509
10, 680
17,843
9,171
41, 277
19,176
8,441
40,170
8,484
19,000
8,660
39,122
8,100
19, 066
8,034
39, 323
8,589
18,430
9,225
36, 858
10, 761
20, 799
8,392
37, 416
7,945
21,138
7,606
37,149
7,910
20, 713
8, 335
36, 513
1,960
10, 972
9,573
4,722
11,365
7,040
7,961
8,723
5,548
1,994
1,447
676
123, 378
294
77, 384
5,754
415
88, 938
331
77, 635
419
98, 027
4,507
428
105, 278
389
90, 344
373
81, 991
6,094
7,423
98, 358
103,364
43,117
167
26, 721
42,179
219
27,989
33, 234
97
24, 204
29, 958
86
22, 662
42, 932
131
22, 459
32,163
126
18,610
24,148
68
20,052
26.192
104
19, 792
7,041
67
3,393
4,334
4,634
5, 703
5.797
6,417
5,494
5,243
161
169
91
169
65
167
66
161
90
155
151
148
205
145
279.1
281.9
689.5
285.3
696.6
312.3
779.0
330.6
805.4
198.5
107,297
5,463
111,090
9,617
7,285
22. 827 24,160
7,503
5,952
36, 661 ' 41, 221
1.764
' 2,183
591
80,071
'682
118,531
117,432
114, 593
14, 305
188
4,965
18,122
163
8,106
25, 381
159
7,311
8,229
9,421
8.318
7,309
221
142
202
144
211
146
178
152
151
149
371.7
366.7
212.8
390.0
322.0
376.0
394.0
388.0
697.0
372.0
653.0
382.0
661.0
5,966
113, 596 117, 342 119,883
453
109, 598
5, 282
5,452
130, 008 120, 871 131,960
ELECTRICAL EQUIPMENT
B a t t e r y shipments (automotive replacement
only):
Unadjusted
1934-36=100-Twelve-month moving total
do
Electrical products:!
Insulating materials, sales billed._ .1936=100-.
Motors and generators, new orders
do
Transmission and distribution equipment,
new orders
1936=100. _
Furnaces, electric, industrial, sales:
Unit
kilowatts..
Value
thous. of d o L .
Electrical goods, new orders (quarterly)
thous. of doL .
Laminated fiber products, shipments
do
Motors (1-200 h p ) ;
Polyphase induction, billings
do.
Pqlyphase induction, new orders
do
Direct current, billings
do.
Direct current, new orders
do.
Power cable, paper insulated, shipments:
Unit
thous. offt_Value
thous. of dol
Rigid steel conduit and fittings, shipments
short tons
Vulcanized fiber:
Consumption of fiber paper
thous. of lb._
Shipments
thous. of d o L .
215.3
325.9
627.0
223.4
160.0
188.0
104. 0
107.0
16,265
1,197
45,674
4,551
148,556
10, 367
34, 210
3,177
70, 507
5,100
24,796
2,133
31,310
2,378
26, 528
2,237
20,297
1,534
13,321
1,357
29,879
1,845
10,541
928
17,201
1,287
5,813
759,063
3,641
3,699
3,722
1,057,954
4,116
4,557
4,475
965,120
5,028
5,279
~5,~l63"
1,095,565
5,302
5,015
5,191
6,743
13,189
3,097
8,313
7,604
12, 697
4,418
10,196
7,471
11,174
3,395
12,761
7,855
11,932
3,225
13,494
8,052
10,949
3,413
8,407
7,710
9,272
3,857
10,377
8,257
4,584
4,341
8,287
7,291
4,433
3,614
7,484
6,098
5,300
6,946
8,753
9,296
6,892
9,214
7,079
6, 750
4,336
3,267
6,982
7,854
4,082
4,794
605
1,062
578
934
576
978
1,375
1,716
1,549
2,050
899
1,123
1,074
1,435
942
1,269
888
978
879
928
1,256
1,173
25,572
26,499
22,987
22, 656
21, 449
21,420
17, 452
14,509
12,389
12,126
9,102
9,613
3,987
1,107
3,900
1,145
4,228
1,215
4,303
1,378
4,067
1,204
4,219
1,351
4,364
1,581
4,832
1,614
4,314
1,465
4,707
1,595
5,056
1,650
4,551
1,620
279.9
5,026
1,852
PAPER AND PRINTING
WOOD PULP
Production:!
Total, all grades
short tons.. 794,214 976,926 942, 373 934,007 861,066 774,014 819,372 774,144 838, 520 763,414 736, 670 755,069 719,634
Chemical:
Sulphate, total
do
367,501 438, 596 424,052 440,900 404,112 370,810 398, 460 371,796 392,821 348,313 332,679 349,217 331,060
Unbleached
do
304,713 369,834 357,899 373,608 341,677 309, 654 329, 413 299,910 317,980 278,360 266,238 278, 534 271, 264
Sulphite, total
do
215,974 277,023 265,126 258,406 251, 380 224,179 239, 660 226,093 241,946 216,902 208,883 208, 302 210, 685
138, 506 r157, 666 149,831 147.165 147, 651 132,224 144,930 132,724 147, 973 134, 214 127, 291 129,033 126, 549
Bleached
do
35, 533 34, 794 36,716 r 33,810
36, 545 44, 706 41,978 40,084
Soda
do
31, 099 33, 284 33, 391 38,898
34,946
151,169 194,063 189, 528 175.166 155, 326 131,706 130,761 126,037 144,933 143,421 141,909 140,500 133,485
Groundwood
do
Stocks, end of month:!
Total, all grades
do
97,728 '134,380 130, 257 160,515 166,318 170,104 185, 828 175, 241 159,357 149,299 143,983 129,405 111,459
Chemical:
46, 464 r 31,589
74,274
65, 248 59,205
Sulphate, total
do
16, 536 ' 19, 473 16,041
61, 576 72,816
22, 627 28, 521 39,215
Unbleached
do
12, 388 • 14, 381 11, 890 16, 868 22,190
56, 988 66, 067 67,118 56, 480 50,250 37, 776 25, 074
35,258
38,963
35, 694 30,336
41, 345 35, 745 36,843
Sulphite, total
do
28, 771 • 43,043 29, 589 41,654
39,610 41,492 47,838
21,382
22,089 r 16,898
20,136
25, 969 21,434
Bleached
do
17,800 • 28, 218 16,125 25,631
23, 263 26,892 31,948
3,529
3,398 ' 3,175
4,392
3,717
4,395
Soda
do
2,858 r 3, 061
4,386
3,619
4,064
2,765
3,933
43,048
39,
624
40,940
42,404
40,865
54,754
46, 435 • 67, 504 80, 536 90, 752 92,694
70,174
Groundwood
do
84,155
r
Revised.
HOf the 101 firms on the reporting list in 1941, 19 have discontinued the manufacture of stokers; some manufacture stokers only occasionally.
fRevised series. A new method has been employed in the construction of the indexes for electrical products to overcome a strong upward bias in the two series on orders
received, and, in addition, the number of products composing the individual indexes has been increased. For revised 1941 monthly averages see note marked " t " on p. S-30
of the April 1943 Survey; earlier data will be published in a subsequent issue. Wood pulp production statistics have been revised beginning January 1940 and stocks beginning
January 1942. Revised 1941 monthly averages for production: Total, all grades, 837,417; sulphate, total, 366,195 (unbleached, 309,026); sulphite, total, 243,232 (bleached, 141,928) ;
soda, 51,418; groundwood, 158,500. All revisions will be published later.
*New series. For 1940 and 1941 data for machine tool shipments and a description of the series, see p. S-30 of the November 1942 issue.
S-32
SURVEY OF CUEEENT BUSINESS
Monthly statistics through December 1941, to- 1943
gether with explanatory notes and references
to the sources of the data, may be found in the March
1942 Supplement to the Survey
May 1943
1943
1942
March
April
May
June
July
August
September
October
Novem- December
ber
January
February
PAPER AND PRINTING—Continued
PAPER
Total paper, inch newsprint and paperboard:
Production
short tons.
Paper, excl. newsprint and paperboard:
Orders, new
short tons.
Production
do
Shipments
do
Fine paper:
Orders, new
do.
Orders, unfilled, end of month
do
Production
do.. _
Shipments
do.
Stocks, end of month
do...
Printing paper:
Orders, new
do
Orders, unfilled, end of month
do
Production
do._.
Shipments
do_ _ _
Stocks, end of month
do
Wrapping paper:
Orders, new
do. _ _
Orders, unfilled, end of month
do...
Production
do
Shipments
do
Stocks, end of month
do...
Book paper:
Coated paper:
Orders, new..percent of standard capacityProduction
do
Shipments
do
Uncoated paper:
Orders, new
do
Price, wholesale, " B " grade, English finish,
white, f. o. b. mill
dol. per 100 lb.
Production ...percent of standard capacity.
Shipments
do.._
Newsprint:
Canada:
Production
short tons.
Shipments from mills
do...
Stocks, at mills, end of month
do-__
United States:
Consumption by publishers
short tons.
Price, rolls (N. Y.)
dol per short ton.
Production
short tons.
Shipments from mills
do...
Stocks, end of month:
At mills
do. _.
At publishers
do...
In transit to publishers
do...
Paperboard:
Orders, new
do _..
Orders, unfilled, end of month
do...
Production
do. _ _
Percent of capacity
Waste paper, consumption and stocks:
Consumption
short tons.
Stocks at mills, end of month
do _.
,371,545 1,319,538 1,222,421 1,088,223
62.6
59.5
59.7
990,386 ! 1,076,589 11,067,024 1,205,873 11,097,445 1,107,547 ! 1,130,428 11,096,488-
532,647
565,157
548, 779
477, 792
559,411
543, 273
434, 419
532, 802
514,568
55, 029
104,915
62, 468
61,052
38,120
46, 505
79, 757
62,167
59, 693
40, 529
40, 339
64, 360
58,953
56, 505
43, 205
35, 479
49, 485
52,850
50, 403
46, 064
39, 486
40, 782
46, 763
45,071
47,002
42, 805
36, 354
45, 917
44, 285
48, 775
174, 548
124, 895
190, 265
183, 473
r
80, 537
149, 581
101, 239
183, 905
173, 237
91,086
130,506
85, 432
165, 640
157, 244
99, 299
137,689
87,107
141, 595
139, 881
100,832
134, 508
78, 511
133, 798
141,394
92, 881
203, 361
160,881
208,188
203, 323
74,091
199, 272
151,056
210,318
209,120
75, 598
187, 460
131,933
207,863
204, 402
79, 244
167, 470
111,161
191,782
187, 537
80, 963
49.0
61.5
60.9
47.9
55.3
55.1
31.8
40.1
39.9
30.2
37.0
35.1
423, 978 402,993
485,029 434,626
473,008 431, 207
452, 683
457,365
452,323
497,048 •512,385 484, 727
473,162 • 484, 260 463, 493
490,217 •480,838 463, 025
554,191
514,-231
511,460
510, 260
467,090
471,924
612
657
360
448
553
64, 588
44, 983
52, 787
53, 935
48,614
52,106
48,101
48, 274
47,885
49, 017
50,495
55,949
49, 892
53,169
48, 545 r 50,151
49, 578 ' 51, 345
45, 692 ' 42, 935
53, 250
59,166
47, 501
47,996
42, 383
143,837
80, 572
143, 658
141,885
94, 650
153,122
82, 249
148, 520
151,884
91, 502
192, 283
99,025
177, 981
175,194
90,829
174, 633
111,631
160,457
164, 263
86, 651
174, 515 163, 549
121, 551 119,959
157,532 • 163,033
167,963 164, 377
75, 524
73, 233
160,598
119,783
157,357
155,418
75, 455
160,105
100, 290
175, 557
167,497
86, 815
158,618
93, 863
182, 836
164,092
102,317
165, 769
99, 334
169, 643
161, 266
111,204
195, 215
116,100
183, 488
180,037
116,007
187,773
138, 215
163, 393
164, 521
118, 742
174,198
140, 841
166,015
172,137
112,061
190,145
156, 074
173, 517
179,100
107, 581
179, 799
166, 202
165, 274
168, 757
104,012
32.3
30.7
32.7
36.4
34.0
35.8
47.4
45.2
59.7
51.3
51.8
50.3
54.0
55.3
52.6
53.0
53.7
54.4
55.9
60.8
55.3
59.5
425, 825
463,337
437, 946
43,
35,
45,
44,
49,
105. 3
84.1
69.7
74.9
78.6
97.5
86.1
92.6
7.30
92.5
92.1
7.30
105. 0
102.6
7.30
98.2
96.1
7.30
89.4
87.0
7.30
73.9
74.7
7.30
72.7
76.7
7.30
79.2
79.5
7.30
85.3
7.30
96.3
95.0
7.30
90.7
92.9
7.30
86.1
91.4
7.30
89.6
89.9
7.30
93.6
90.4
246,855
248, 469
108, 324
295,835
308,166
144, 626
277,741
238, 346
184, 021
251,831
266,443
169, 409
242, 762
253, 283
158,888
241,178
243,620
156, 446
253,239
255, 563
154,122
257, 618
292,405
119,335
271, 555
295,625
95, 266
251,147
255,087
91,325
244,191
243, 530
91,986
233, 544
215, 016
110, 514
221. 807
222, 383
109, 938
237, 111
54.00
71, 357
71, 824
251, 042 238,493
50.00
50. .Q0
82, 669
80,923
81,182
82,176
242, 372
50.00
80,0.40
76,612
222, 244
50.00
79,386
78,413
210,549
50. 00
76, 952
76,181
223,189
50.00
79,885
79, 556
231, 691 254, 349
50,00
5.0. 00
77,962
84, 217
83, 560
85,458
260, 542
50. 00
75, 065
76, 207
252,399 226, 741 208,143
50. 00
50.00
50. 00
69, 792 64, 358
74,655
75, 222 69, 691
60,147
10,168
447, 396
60,108
9,601
429, 255
50,094
94.1
13,446
11,161
377, 790 368, 520
47, 376
53, 774
12,648
383, 384
44, 843
17,049
1&076
384, 758 402/401
36,442
39,025
17,820
418,985
35,454
18,149
430,409
40, 270
12, 551
455, 263
52, 538
11,310
470,852
58,655
723, 296
511,220
670,257
94
673, 880
436,029
725,465
101
611,967
371, 365
677,458
93
528, 026 466,173
288, 516 223,809
609, 579 523,808
82
464, 293
213,443
478,808
523,648
212,953
529, 214
75
555, 071
236, 208
535, 850
660, 89,0 613, 746 615,184 629, 900 616,167
272,006 321,885 379, 573 413, 084 454, 308
607,425 555, 290 559, 730 576,376 568,637
81
82
77
86
393,634
341,097
438,591
241,178
411,110
308, 963
352,972
371,086
296,938
414,775
283,040
428, 067
304, 215
422,958
312, 279
420, 465
343,460
424,451
316,454
408, 753
331,895
394, 527
344,388
374,301
350,885
355,044
Book publication, total
no. of editions.
743
782
1,036
637
New books
.
do _..
657
818
537
586
125
New editions
do...
218
100
157
Continuous form stationery, new orders
thous. of sets. 1451,613 300, 717 206,078 169,904 188,437
20, 604
22, 878
Sales books, new orders
thous. of books.
19, 672
18,101 20,051
709
537
172
642
167
582
157
969
821
148
842
693
149
702
594
108
671
602
731
528
203
9,702
391,102
66, 707
13,913
381,466
63,166
PRINTING
150,392
16,450
227,722 |i 238, 529 1283,108 236,362
17, 235 i 16, 047 I i 21, 602 i 23, 229
I
230,646 '209,460 !,i 250,410
16, 726 i 19,196 | i 25, 707
PETROLEUM AND COAL PRODUCTS
COAL
Anthracite:
Prices, composite, chestnut:
12.48
Retail
dol. per short ton..
10,811
10. 281
Wholesale
do
5,085
5,822
Production
thous. of short tons..
Stocks, end of month:
216
656
In producers' storage yards
do
In selected retail dealers' yards
15
number of days' supply,.
Bituminous:
Industrial consumption and retail deliveries,
46, 533
total
thous. of short tons.. 53,386
41, 516
36, 443
Industrial consumption, total
do
1,174
1,024
Beehive coke ovens
do
7,647
7,372
Byproduct coke ovens
do
552
543
Cement mills
do
149
153
Coal-gas retorts
do
5,975
Electric power utilities
do
5,011
11,693
Railways (class I)
do
9,723
1,046
Steel and rolling mills
do
957
Other industrial-.
do
13,280
11, 660
Retail deliveries
do
11, 870
10,090
Other consumption, coal mine fuel
do
273
251
Prices, composite:
Retail (35 cities)
dol. per short ton..
9.51
Wholesale:
Mine run
_do
5.020
4. 753
Prepared sizes
_.__do
5.238
4.897
r
Revised.
i Beginning September 1942, 3 companies, formerly
12.29
10. 124
5 153
12.49
10. 314
4, 843
466
292
140
27
24
28
42. 591
34, 501
1,099
7,451
647
144
5,103
9, 398
819
9,840
8,090
256
40, 269
33, 289
1, 059
7? 229
640
139
5 175
8 921
766
9 360
6 980
257
43,306 I
34, 526
1, 029
7, 173
571
144
4, 717
9, 189
863
10, 840
8, 780
260
12.48
12.48
10.346 i 10.346
122
5,341
181 i
I
35 |
39, 856
34, 306
1,080
7.504
'660
125
5, 712
9,077
758
9,390
5, 550
253
12.48
10. 344
5,180
12.48
10. 344
5,426
289
472
12.49
10. 344
5,101
12.49
10 344
4, 795
12.49
10. 383
4, 611
13.13
10. 661
4, 314
13.14
10.801
5,092
792
798
542
379
64
33
21
19
407
707
041
334
678
146
5 570
10, 271
867
11 800
7 700
229
52, 272
41, 142
1, 071
7, 583
645
155
6, 159
11, 155
1, 034
13, 340
11, 130
234
53, 407
41,437
1, 044
7,682
571
157
5,981
11,443
1,049
13,510
11,970
228
• 49, 217
' 38, 207
1, 055
r 6, 969
547
137
r
5, 370
• 10, 568
1,021
12, 540
11,010
237
9.56
9.63
9.68
4.866 !
5.180 !
4.949
5. 208
608 i
39
40, 296
34, 686
1,087
7,508
663
139
5,672
9,368
769
9,480
5,610
250
42, 228
35, 038
1,088
7,294
678
137
5,661
9, 465
775
9,940
7,190
258
45, 500
37, 800
1,126
7,542
714
149
5,787
10, 279
843
11.360
7,700
247
45
37
1
7
9.43
9.46
5.49
9.52
9.52
9.54
9.54
}.55
4.774
4.819
4.773
4. 858
4 775
4 939
4. 782 !
4.989 i
4.787
5.021
4.797 !
5.050
4.805
5.097
4.815
5.131 i
accounting for about, 7 percent of the total, discontinued reporting.
4.85
5.17
S-33
SURVEY OF CURRENT BUSINESS
May 1943
Monthly statistics through December 1941, together with explanatory notes and references
to the sources of the data, may be found in the
1942 Supplement to the Survey
1943
March
1943
1942
March
April
May
June
July
August
September
October
Novem- December
ber
January
February
PETROLEUM AND COAL PRODUCTS—Continued
COAL—Continued
Bituminous coal— Continued.
Production!
thous. of short tons_
Stocks, industrial and retail dealers, end of
month, total
thous. of short tons_.
Industrial, total
do
Byproduct coke ovens
do
Cement mills
do
Coal-gas retorts
do
Electric power utilities
do
Railways (class I)
do
Steel and rolling mills
do
Other industrial
do
Retail dealers, total
do
COKE
Price, beehive, Connellsville (furnace)
dol. per short ton__
Production:
Beehive
thous. of short tons__
Byproduct
do
Petroleum coke
do
Stocks, end of month:
Byproduct plants, total
do
At furnace plants
_do
At merchant plants
do
Petroleum coke
do
PETROLEUM AND PRODUCTS
•Crude petroleum:
Consumption (runs to stills). __thous. of bbl__
Price (Kansas-Okla.) at wells...dol. per bbL_
Productionf
thous. of bbl
Refinery operations
pet. of capacity. _
Stocks, end of month:
Refmable in U. S.f
thous. of bbl_.
At refineries
do
At tank farms and in pipelines
do
On leasesf
do
Heavy in California
do
VVells completed!
number._
Refined petroleum products:
Gas and fuel oils:
Consumption:
Electric power plants
thous. of bbl..
Railways (class I)
do
Price, fuel oil (Pennsylvania)—dol. per gal..
Production:
Gas oil and distillate fuel oil
thous. of bbl..
Residual fuel oil
do
Stocks, end of month:
Gas oil and distillate fuel oil
do
Residual fuel oil
do
Motor fuel:
Prices, gasoline:
Wholesale, refinery (Okla.)-dol. per gal_.
Wholesale, tank wagon (N. Y.)
do
Retail, service stations 50 cities
do
Production, totaltt
thous. of bbl. .
Straight run gasoline
do
Cracked gasoline
do
Natural gasoline-it
do
Natural gasoline blended
do
Retail distribution
mil. of gal -.
Stocks, gasoline, end of month:
Finished gasoline, total
thous. of bbL.
At refineries
do
Unfinished gasoline
do
Natural gasoline
do
Kerosene:
Price, wholesale, water white, 47°, refinery
(Pennsylvania)
dol. per gal. Production
thous. of bbL _
Stocks, refinery, end of month
do
Lubricants:
Price, wholesale, cylinder, refinery (Pennsylvania)
dol. per gal Production
thous. of bbLStocks, refinery, end of month
do
Asphalt:
Production
do
Stocks, refinery, end of month
do
Wax:
Production
thous. of lb-_
Stocks, refinery, end of month
do
Asphalt prepared roofing, shipments:
Total
thous. of squares. Grit surfaced
do
Ready roofing
do
Shingles, all types
do
r
56,450
47, 796
48, 332
47, 860
48, 220
47,832
47,851
49, 843
51, 791
47, 474
49,595
47, 029
77, 292
70.412
9,851
817
361
19, 204
12,149
1,120
26, 910
6,880
57, 221
51, 761
7, 881
743
293
13, 891
9,910
1,013
18.030
5,460
61, 836
55, 746
8,409
813
301
14, 767
10,816
1,050
19,590
67,418
60, 618
9,179
876
331
15, 854
11,479
1,099
21,800
6,800
73, 271
65, 691
9,866
972
369
16,876
12, 223
1,145
24,240
7,580
77, 583
69,003
9,922
1,040
386
17, 339
12,898
1,178
26,240
8,580
73,186
10, 238
1,074
402
18,165
13, 462
1,235
28,610
9,500
87, 311
77. 261
10,566
1,081
409
19,872
13, 542
1,251
30, 540
10, 050
89, 937
79,057
10, 998
1,092
413
20, 452
13, 683
1. 239
31, 200
10, 880
90,874
79, 244
11,151
1,052
435
20, 607
13,293
1,206
31, 500
11, 630
85, 889
75, 699
10. 721
998
439
19,982
12,579
1,140
29, 840
10,190
79, 379
71,079
9.958
851
414
19, 276
11, 575
1,085
27, 920
8,300
6.500
6.000
6.000
6.000
6.000
6.000
6.000
6.000
6.000
6.000
6. COO
748
5,427
690
5,226
108
5,055
91
696
5,260
83
714
5,100
688
5,278
101
692
5,315
111
693
5,163
108
718
5,339
123
663
5,191
122
866
636
230
1,430
920
509
252
1,448
963
485
201
1, 432
975
457
191
1, 405
969
435
182
999
470
175
1,564
1,026
539
179
1,614
1,021
593
173
955
651
184
1,200
.063
.059
.161
.145
.066
48,920
76, 626
69, 366
' 9, 778
818
371
19,056
• 11,364
1,069
26, 910
7,260
1
6.375
5,368
142
664
5,395
113
672
4,903
93
1,646
917
728
198
1, 511
882
629
234
1, 269
816
453
273
1,069
757
312
276
110,565
1.110
114, 473
76
104, 882
1.110
105, 053
75
106,883
1.110
110,192
74
105, 376
1.110
108, 595
77
111,555
1.110
111, 782
114,135
1.110
120, 429
80
113,474
1.110
115,801
83
116, 381
1.110
120,311
82
112, 368
1.110
116,101
82
113, 342
1.110
120,519
111, 606 101,935
1. 110
1.110
117, 227 108, 399
79
79
261,832
50,050
199, 240
12, 542
11, 737
778
257, 761
49, 525
195, 937
12.299
11, 434
825
254, 577
48,454
193,334
12, 789
11,168
847
251, 421
47, 551
191, 353
12,517
10, 892
726
245, 026
46, 919
185, 797
12,310
10, 950
833
244,125
46, 435
184, 757
12, 933
10, 706
745
240, 043
44, 569
182, 825
12. 649
10,167
836
237, 361
43, 552
181,203
12, 606
10, 868
817
234,100
42, 699
178, 405
12, 996
10,724
765
234,354
43, 620
177,904
12,830
10, 865
804
234, 423
44, 213
176,956
13, 254
10, 804
688
237, 075
44, 874
179,119
13, 082
10, 394
638
1, 304
6,595
.055
1,012
6,399
.057
923
6,427
.059
1,211
6,747
.059
1,349
6,985
.059
1,431
7,131
.059
1,331
7,798
.059
1,112
7,808
.059
1,281 I 1,317
8,341 ! 8,145
.059
.059 j
r 1,108
16, 214
28,095
14,002
29,440
13, 436
30,971
15,210
28, 352
16,149
30,096
17, 052
30,446
18,062
30,402
18, 858
31, 239
17 562
31 311
18, 073
31, 890
17, 306
32, 544
16,240
30,799
30,205
70,098
28, 792
67,658
30, 281
68,388
32, 501
66, 341
37, 729
66,935
42,918
67,613
45,817
69, 264
49, 701
68, 873
50 709
66 664
44, 940
61, 783
39,014
60,808
35, 298
59, 657
.055
.153
.143
52,902
20,609
25,629
7,020
4,414
1,979
.054
.157
.144
47, 528
18, 339
23,504
6,257
4,046
2,015
.055
.161
.144
48,938
19,573
23,130
6,718
4,272
2,092
.056
.166
.154
45, 887
17, 404
22,423
6,558
4,423
2,079
.058
.186
.153
49, 302
19,088
23,946
6,804
4,577
2,202
.059
.166
.144
51,105
19,192
25, 387
7,028
4,909
1,998
.059
.161
.144
49, 389
19,088
23,882
6,998
5,108
2,038
.059
.161
.144
51,495
19, 997
24, 905
7, 256
5, 455
2,056
.059
.161
.144
50,018
19,116
24,433
7,156
4,989
2,112
.059
.161
.145
48,800
18,891
23,225
7,516
4,929
r 1,465
.059
.161
.145
47, 236
17,309
23,391
7,360
4,425
1,376
.059
.161
.145
43,280
] 5, 322
21,947
6, 840
4,430
99,184
73, 556
7,549
5,620
94,127
67,182
7,695
6,043
87, 461
62, 597
7,220
6,568
80,080
55,213
7,437
6,571
71,657
48,585
7,789
6,588
71, 403
47, 924
8,123
6,405
69, 293
46,736
8, 853
6,056
67, 669
46,158
8, 953
5,424
64, 224
44,623
4,996
70, 772
49,054
9,354
4,632
78,475
56,617
10,202
4, 904
82,867
61,873
9,981
4,996
.063
6,035
5,460
.063
5,529
5,630
.064
5,302
6,419
.064
4,929
6,940
.063
5,134
7,480
.063
5,340
8.261
.063
5,421
8,203
.063
5,907
8,599
.063
5,759
8,770
.063
5,351
7,537
.063
5,602
5,146
.063
5,852
3,996
.160
3,533
8,470
.160
3,438
8,470
.160
3,439
.160
3,231
8,756
.160
3,133
8,945
.160
3,141
9,301
.160
2,951
9,278
.160
3,057
9,421
.160
2,983
9,336
.160
3,049
9,424
.160
2,935
9,725
.160
2,780
9,771
428,200
740,700
452,900
719,400
500,500
617,300
517,800
513,800
629,300
436,000
619,500
396,500
631,800
366,900
656, 900
343,100
549,100
340,200
545,800
411,000
436,000
499,800
390,500
552, 700
61,600
75,040
52,080
69, 720
51,800
69,160
57,960
69,720
50,680
68,040
61,040
77,000
57,120
77,840
75,320
86,240
59,920
86, 520
64, 960
85, 400
57,680
84,000
54,600
81, 480
3,692
969
1,592
1,132
4,198
1,178
1,509
1,511
4,391
1,227
1,467
1,697
4,397
1,286
1,528
1,582
4,908
1,726
1,751
1,431
5,152
1,823
1,918
1,411
5,440
1,802
2,091
1,547
5,774
1,847
2,283
1,644
4,926
1, 555
2,060
1,311
5,400
1,547
2,666
1,187
3,767
1,269
1, 733
765
3,516
1,182
1, 567
767
946
6,624 I
. 058
.062
Revised.
J F i g u r e s for t h e p r o d u c t i o n of n a t u r a l gasoline include t o t a l sales of liquefied p e t r o l e u m gas as follows (thous. of barrels): 1942—Mar., 556; A p r . , 572; M a y , 483; J u n e , 498;
J u l y , 536; A u g . 502; Sept., 579; Oct., 663; N o v . 687; D e c , 832. 1943—Jan., 824; F e b . , 829; these d a t a h a v e n o t been included in t h e total for m o t o r fuel; similarly sales of liquefied
p e t r o l e u m gas are included in t h e t o t a l p r o d u c t i o n of n a t u r a l gasoline b u t excluded from total m o t o r fuel p r o d u c t i o n in t h e revised 1941 figures t o which reference is m a d e in
t h e note m a r k e d "f".
f R e v i s e d series. P r o d u c t i o n of b i t u m i n o u s coal revised beginning J u n e 1939. Revised m o n t h l y averages ( t h o u s a n d s of short t o n s ) : 1939, 32,905; 1940, 38,398; 1941, 42,846.
F o r revised m o n t h l y figures for 1939-40, see n o t e m a r k e d " t " on p . S-27 of t h e S e p t e m b e r 1942 S u r v e y a n d for 1941, note m a r k e d " t " on p . S-32 of t h e M a r c h 1943 issue. D a t a
for t h e indicated series of p e t r o l e u m p r o d u c t s revised for 1941; for revisions see notes m a r k e d "f" on p . S-33 of t h e M a r c h a n d A p r i l 1943 issues. See also n o t e m a r k e d "t"
•above.
S-34
SURVEY OF CURRENT BUSINESS
Monthly statistics through December 1941, to- 1943
gether with explanatory notes and references
to the sources of the data, may be found in the March
1942 Supplement to the Survey
Mav 1943
1942
March
April
May
1943
September
July
June
Octo- | Novem- December
ber
ber
January
February
120, 953 126, 874 157,573
125,258
119,776
STONE, CLAY, AND GLASS PRODUCTS
ABRASIVE PRODUCTS
Coated abrasive paper and cloth:
Shipments
~ - .reams.
109,568
105,808
110,645
115,910
121,187
135, 030
142, 985
11,392
54
10,108
24, 269
12, 733
61
12, 563
25,832
6,571
14,067
69
14, 774
25,112
6,656
16,119
77
16,349
24,886
6,241
16,022
79
18, 250
22,609
5,809
16,833
80
20, 501
18,979
5,528
17, 605
85
21, 282
15,268
4,493
17, 527
87
20,145
12,697
3,595
18, 258
87
20,345
10, 617
2,723
13. 260
13.187
13. 249
13. 216
13 224
13. 263
13 265
13. 255
13.213 ! 13.215
2, 075
18,992
1,983
19,615
2,680
19, 647
3 682
19 461
3,711
18, 760
3 682
19, 215
6,935
103.1
7,073
588
1,517
49
503
737
983
1,806
514
243
106
9,450
6,921
102.9
6,830
454
1,554
51
479
868
838
1,757
448
234
125
9,417
7,192
111.2
6,997
419
1,489
49
508
1,158
814
•1, 733
441
259
104
9,489
6,723
99.9
6,356
331
1,405
43
451
1,065
759
1,482
433
272
90
10,008 i
5,946
88.4
6,333
383
1,577
40
416
837
853
1.379
'328
295
195
9,528
6,585
97.9
6,902
546
1,828
33
320
723
1,164
1,253
329
270
401
9,139
6,297
97.3
6,879
815
1,629
31
315
636
1,095
1,286
361
286
395
8,490
6,837
97.9
6,975
505
1,830
49
350
618
1,171
1,662
455
276
6,206
99.9
6,252
449
1,645
39
331
672
816
1,508
520
236
13
8,119
6,268
93.2
6,528
418
1,715
39
362
814
862
1,491
516
272
16
7,774
7,361
112.8
7,246
491
1,841
41
366
849
796
1,924
551
267
100
7,775
6,672
110.7
7,060
471
1,808
18
386
862
731
1,708
609
217
227
7,288
4,804
'4,672
9,260
4,558
4,610
9,156
4,134
4,315
8,879
3,779
3, 845
9,140
3,183
3,915
8,411
4,498
4,532
8,196
3,880
3,829
8,239
4,500
4,888
7,837
3,778
3,535
8,076
3,837
3,746
7,177
4,475
3,763
7,877
4,190
4,210
7,803
3,278
2,876
2,927
2,494
2,397
3,048
3,606
3,909
3,744
3,585
3,713
5,565
1,583
97.5
5,570
1,644
101.3
4,310
1,557
95.9
4,726
1,223
75.3
4,194
1,274
78.5
3,863
1,075
66.2
4,741
1,097
67.6
4,924
i 960
59.2
4,612
1984
60.6
5,001
4,910
i 1, 297 i 1,166
79.9
71.8
4,775
i 1,113
68.6
PORTLAND CEMENT
Production
Percent of capacity
Shipments
Stocks, finished, end of month
Stocks, clinker, end of month
thous. of bbl.
thous. of bbl_
do___
do...
16, 241
80
14, 627
12, 234
2,831
14, 090
67
8,923
17, 428
3,509
12, 560 10, 293
60
54
8,641
8,656
21, 368 ' 22, 985
' 4, 566
3,771
CLAY PRODUCTS
Common brick, price, wholesale, composite,
f. o. b. plant
dol. per thous..
Vitrified paving brick:J
Shipments
thous. of brick
Stocks, end of month
do.
GLASS PRODUCTS
Glass containers:
7,561
Production
thous. of gross.
111.5
Percent of capacity
8,154
Shipments, total
thous. of gross.
499
Narrow neck, food
do...
2,144
Wide mouth, food
do...
46
Pressed food ware
do...
478
Pressure and nonpressure
do.__
952
Beer bottles
do...
857
Liquor ware
do. _ _
1,906
Medicine and toilet
do._.
671
General purpose
do...
235
Milk bottles
do...
334
Fruit jars and jelly glasses
do _ _.
6,631
Stocks, end of month
do._.
Other glassware, machine-made:
Tumblers:
4,284
Production
thous. of doz _
5,338
Shipments
do _ _.
6,870
Stocks
do...
Table, kitchen, and household ware, shipments
thous. of doz.
Plate glass, polished, production
5,237
thous. of sq. ft.
Window glass, production
thous. of boxes. i 1, 249
76.9
Percent of capacity
13.236
13. 243
13.219
I
!
GYPSUM AND PRODUCTS
Gypsum, production:
. short tons
Crude
Calcined
Gypsum products sold or used:
Uncalcined
do
Calcined:
For building uses:
Base-coat plasters
do
Keene's cement
do
All other building plasters
do
Lath
thous. of sq. f t . .
Tile.._
do
Wallboard
do
Industrial plasters
short tons. _
,066,362
817, 856
285,755
!
275,886
5,904
'6,430
348,061
6,490
.... 1,234,293
829,206
| 399,192
252,860
! 3,781
80,320
I 254,690
',523 |
!
!
256,755
34,114
i
I.
|.
i 365,166|
35,736 I . . .
!.
|.
1,213,817
754,911
1,119,863
658, 053
384, 730
388. 625
199, 061
2, 905
77, 483
197, 845
11, 577
404,896
36, 399
129,468
2,258
61, 695
159,123
12,328
408,044
38, 301
TEXTILE PRODUCTS
CLOTHING
Hosiery:
Production
thous. of dozen pairs..
Shipments
..
-- -do
Stocks end of month
do
12, 951
13, 506
21,160
12,729
13,533
20, 346
11,913
11, 500
20, 748
12, 033
10,990
21, 781
12, 067
11,251
22, 585
11. 982
12, 118
22,435
12, 335
12, 649
22,110
12. 650
13, 012
21, 736
11,711
12,059
21, 369
12,178
12, 441
21,100
12,186
12, 937
20, 350
12, 255
12, 975
19, 630
COTTON
Cotton (exclusive of linters):
Consumption
_. _ bales
995, 512 967, 406 999, 749 957, 864 967, 523 994, 552 925, 089 966,149 972, 490 913, 038 935, 511 915, 479 878,154
.189
.199
.181
.192
.183
.186
.192
.197
.190
.180
.196
.197
Prices received by farmers
_.dol. per lb_.
.186
Prices, wholesale, middling iMe", average,
.189
.202
.200
.212
.196
.194
.189
.193
.204
10 markets
dol. per lb_.
.186
.187
.197
.207
Production:
Ginnings (running bales)§ thous. of bales 3 12, 445 3 10, 495
49
5,009
11,539
12,100
738
9,726
11, 743
Crop estimate, equivalent 500-lb. bales
thous of bales 3 12, 826 3 10, 742
Stocks, domestic cotton in the United States,
end of month:!
8,421
9, 364
7,594
7, 502
Warehouses
_. .
thous. of bales.
10, 358
12, 624
13, 587
13. 540
12, 340
11, 438
11,306
9,676
13, 036
2,541
2,340
2,418
2,406
2,518
2,156
1,848
2,006
2,330
2,467
2,443
2,481
1,711
Mills
do
Cotton linters:
109
132
122
132
127
122
115
111
131
116
114
108
98
Consumption
do
99
27
97
41
221
67
26
2^
154
215
200
162
120
Production
do
873
806
732
653
490
505
698
854
577
588
868
893
Stocks, end of month. . . .
_ _ .do
810
r
!
2
3
Revised.
Partly estimated.
Total ginnings of 1942 crop.
Total ginnings of 1941 crop.
1 Data are being compiled on a revised basis.
§ Total ginnings to end of month indicated.
t Revised figures for Aug. 1941-February 1942 areas follows:—Warehouses: 1941—Aug. 9,234; Sept. 11,455; Oct. 13,250; Nov. 13,915; Dec. 13,659; 19 \2—Jan. 12,805; Feb. 12,169.
Mills: 1941—Aug. 1,619; Sept. 1,548; Oct. 1,906: Nov. 2,164; Dec. 2,301; 1942—Jan. 2,390; Feb. 2,468. The revisions previously published for this period erroneously included
foreign cotton as the series shown represent American cotton only. The total stocks of American cotton in the United States on July 31, 1942, including stocks on farms and in
transit, was 10,505,000 bales; stocks of foreign cotton in the United States on that date totaled 135,000 bales.
S-35
SURVEY OF CURRENT BUSINESS
May 1943
1942
Monthly statistics through December 1941, to- 1943
gether with explanatory notes and references
to the sources of the data, may be found in the March
1942 Supplement to the Survey
March
April
June J July
May
1943
August
September
October
Novem- December
ber
January
February
TEXTILE PRODUCTS—Continued
COTTON
MANUFACTURES
Cotton cloth:
Prices, wholesale:
Mill margins
cents per l b .
Denims, 28-inch
dol. per y d .
P r i n t cloth, 64 x 60
do
Sheeting, unbleached, 4 x 4
do
Finished cotton cloth, production:
Bleached, plain
thous. of yd_
Dyed, colors
do - _ Dyed, black
do_ _.
Printed
do _ _ _
Spindle activity:!
Active spindles
thousands.
Active spindle hours, total
mil. of h r .
Average per spindle in place
hours.
Operations
percent of capacity.
Cotton yarn, wholesale prices:
Southern, 22/1, cones, carded, white, for knitting (mill)t
dol. per lb_
Southern, 40s, single, carded (mill)
dc__
19.60
.192
.090
0)
20.25
.193
.088
.105
191,654
145,169
6,010
88,674
20. 28
.196 I
. 107
21.82 ! 21.27
20. 95
.196
.196 .196 !
.090 ! .090
.090
.108
.108 I
.108
22.03
.192
.090
.108
21.85
.192
.090
.108
21.47
. 192
.090
.108
21.08
.192
.090
.108
20.32
.192
.090
0)
20. 05
.192
.090
(0
194, 328 192,142 192,091 189, 214 178,185 179, 363 182,176 168, 349 182,841 175,919
148,023 145, 423 147, 654 150,832 149,159 157,074 167, 390 143,165 145,133 140,098
5,295
5,730
5,860
5,338
5, 573
5,196
5,121
5,472
5,503
4,608
75, 962 72,813
61, 287 55,732 60, 073 65,606
70, 935 63,144 84, 216 71, 033
23,095 I 23,110
11 OOK
11 AQA
11,295
11,
471
479
133.7
130.2
22,974
10,981
458
136.4
22,956
11,191
23,012
11,429
478
136.9
22,948
10, 558
443
133.4
22,887
10,734
450
127.9
22,890
10, 820
455
138.8
22,859
10, 246
435
135.9
.421
.515
.421
.515
.421
.515
.420
.515
.414
.515
.414
.515
.414
.515
.414
.515
.414
.515
37.6
12.7
39.0
13.7
39.9
12.6
38.2
12.7
38.4
12.5
41.1
12.6
38.8
12.4
41.0
13.2
37.9
12.7
.550
.250
.550 i
.250 i
.550 j
.250 I
.550
.250
.550
.250
.550
.250
.550
.250
.550
.250
.550
.250
.550
.250
.550
.250
4.1
2.3
5.4
1.7
6.9
2.1
7.0 !
2.3 I
6.5
3.1
7.4
3.9
8.0
4.3
7.7
4.1
8.1
4.4
8.7
3.3
8.9
3.0
'7.1
2.5
53, 880
6, 555
44, 740
2,544
44 320
388
53, 510
4.280
45, 896
3,236
45, 372
2,000
52, 305
3, 045
45,100
3,240
44, 388
3,036
45, 504
3,168
56, 160
2,665
49,120
2,856
2,602
95
2,754
86
2 789
81
2 668
78
:,853
70
2,744
70
2,657
65
2,650
71
2,805
07
59
80
64
76
53
72
45
66
40
2,7
,711
68
64
42
2, 676
63
98
79
2,703
75
69
44
63
40
65
41
125, 659 125 175
114, 464 116, 750
241
239
119, 375
115, 368
233
, 337 124,120
,958 112,927
206
205
it), 099
217
22, 925
11,647
495
134.4
23,109
11, 379
473
134.3
23,102
11,459
476
135.2
23,117
11,197
465
138.5
.414
.515
.414
.506
.420
.516
.421
.515
42.7
13.9
40.0
12.6
37.6
13.0
.550
.250
.550
.250
6.8
2.8
RAYON
Consumption:
Yarn
mil. of lb_
Staple
fiber
do.._
Prices, wholesale:
Yarn, viscose, 150 denier, first quality, minim u m filament
dol. per lb_
Staple fiber, viscose, 1H denier
do__.
Stocks, producers', end of month:
Yarn
mil. of lb_
Staple
fiber
do.. -
22.17
.193
.090
.108
r
39.0
'12.6
WOOL
Consumption (scoured basis):!
Apparel class
thous. of lb__
Carpet class
do
Machinery activity (weekly average):!
Looms:
Woolen and worsted:
Broad
thous. of active hours _
Narrow
do
Carpet and rug:
Broad
do
Narrow
do
Spinning spindles:
Woolen
do
Worsted
do
Worsted combs
do
Prices, wholesale:
Raw, territory, fine, scoured
dol. perlb_.
Raw, Ohio and Penn., fleeces
do
Australian (Sydney), 64-70s, scoured, in bond
(Boston)
dol. per lb__
Suiting, unfinished worsted, 13 oz. (at mill)
dol. per yd__
Women's dress goods, French serge, 54"" (at
mill)
dol. per y d. _
Worsted yarn, %2's, crossbred stock (Boston)
dol. per lb_.
Stocks, scoured basis, end of quarter:f
Total
thous. of lb_.
Wool finer than 40s, total
do
Domestic
do
Foreign
do
Wool 40s and below and carpet
do
116, 996
99, 935
231
1.175
.515
1.205
.535
1.195
.515
1. 195 I 1. 195
.503 I
.515
243
.195
.496
125, 473 121,812
120, 250 112,150
237
217
.790
2.599
2.599
0)
(0
1.559
1.559
1.559
1.559
1.556
1.800
1.800
1.800
1.800
1.800
552
1.205
.535
.205
.535
.790
.790
0)
0)
1. 558
1.559
1.559
1.800
1.800
1.800
1.199
.527
(0
(0
1.552
1.800
.790
351, 485
276, 295
141, 409
134, 886
75, 189
247, 083
172,438
66,182
106, 256
74, 645
128, 423 125,194
118, 676 115, 344
207
217
1. 205
.535
1.195
.790
.790
.755
0)
.765
127, 143
122, 324
66
42
1. 205
.535
.765 I
.765
0j
0)
1.559
1.559 I
1.800
335, 796
254,817
126, 612
128, 205
80, 979
1. 205
.535
1.559
1.800
MISCELLANEOUS PRODUCTS
Fur, sales by dealers
. _ _thous. of doL.
Pyroxylin-coated textiles (cotton fabrics) :
Orders, unfilled, end of mo. thous. linear yd..
Pyroxlin spread
thous. of lb__
Shipments, billed
thous. linear yd._
6,947
9,231
3, 731
4,686
6,617
5,387
6,667
6,496
5,554
6,384
1,460 !
I
5, 798 I
5,371
5, 877 j
1, 313 I
5, 563
4,605
5, 279
1, 518
4 937
4 430
4 530
3,197
2,630
2,626
3,096
4,037
5,120
4, 686
4, 275
4, 734
5,752
4, 855
4,720
8,913
4, 621
4,950
9, 959
3, 570
4,248
9, 658
3, 776
4,510
10,212
3,747
4,283
10, 036
3.217
4,260
TRANSPORTATION EQUIPMENT
AUTOMOBILES
Indexes of retail financing:
Passenger car financing, volume:f
Total
J a n . 1942 = 100..
New cars
do
Used cars
do
Retail automobile receivables outstanding,
end of month
Dec. 31, 1939=100
Automobile rims, production
thous. of rims
T
36
30
37
73
46
81
58
42
62
56
60
55
58
55
60
22
638
116
669
105
665
95
617
86
664
59 !
573
17
53
54
54
42
45
42
32
26
34
26
16
28
20
11
22
11
19
21
13
23
67
586
59
33
51
547
44
488
37
554
31
567
27
527
1
Revised.
No quotation.
tFor revised figures for all months of the cotton year 1941-42 see p. S-35 of the November 1942 Survey.
i p a t a for June and September 1942 and January 1943 are for 5 weeks; other months, 4 weeks.
da
stocks In the hands of country dealers and in country warehouses; stocks in the hands of country dealers and in country warehouses are not included in the earlier data. All
given in footnote 5 to p. 170 of the 1942 Supplement.
S-36
SURVEY OF CURRENT BUSINESS
Monthly statistics through December 1941, together with explanatory notes and references
to the sources of the data, may be found in the
1942 Supplement to the Survey
May 1943
1942
April | May
June
July
1943
August
September
October
Novem- December
ber
Janu- I February I ary
TRANSPORTATION EQUIPMENT—Continued
RAILWAY EQUIPMENT
|
!
American Railway Car Institute:
|
Shipments:
J
Freight cars, total
._.number__ j 5,584
1,469
Domestic
do
0
Passenger cars, total
do
0
Domestic
do
Association of American Railroads:
Freight cars, end of month:
1, 742
Number owned
thousands..
Undergoing or awaiting classified repairs
44
thousands-2.6
Percent of total on line
20,
712
Orders, unfilled
cars. _
17,393
E quipment manufacturers
do
3,319
Railroad shops
do.,_.
Locomotives, steam, end of month:
Undergoing or awaiting classified repairs
2,081
number,.
5.3
Percent of total on line
392
Orders, unfilled
number_ _
288
Equipment manufacturers
do
104
Railroad shops
do
U. S. Bureau of the Census:
Locomotives, railroad:
2, 296
Orders, unfilled, end of mo., total
do
1. 544
Steam
do
752
Other
do
286
Shipments, total
do
202
Steam
do
84
Other
do
Locomotives, mining and industrial:
328
Shipments (quarterly), total
do
136
Electric, total
do
124
For mining use
do
192
Other
do
I
7,781
7,781
28
28
7.957
7 273
10
10
7, 573
5,700
41
41
5,253
2,851
23
23
2, 860
1,370
16
16
955
574
10
10
1,718
1,726
1,731
1,736
1, 737
1,737
60
3.5
68, 316
47, 985
20, 331
62
3.6
58,129
39,804
18, 325
63
3.7
48, 351
31, 440
16,911
57
3.3
37, 891
25, 062
12, 829
55
3.2
35. 442
24, 974
10, 468
53
3.1
34,195
24, 626
9, 569
3,228
8.2
426
372
54
3,114
7.9
357
51
2,930
7.5
395
348
47
2,747
7.0
350
304
46
2,669
6.8
334
284
50
1,332
589
743
125
57
68
1, 425
669
756
132
62
70
1, 586
716
870
111
50
61
1, 554
658
896
142
59
83
1,720
854
866
132
56
76
2,142
1,970
0
0
2,202
1, 896
8
1
2,244
1, 428
0
1,737
1, 737
46
2.7
35, 637
28, 352
7,285
42
2.4
29, 204
22, 419
6, 785
2,593
6.6
323
256
67
2,381
6.1
314
238
76
1. 649
783
866
147
61
86
1,932
1, 065
867
177
83
94
1, 575
1, 408
0
0
0
3, 061
1,447
0
0
3, 365
1, 321
3
0
1,739
1,739
1,740
1,741
45
2.6
27,308
22,167
5, 141
42
2.4
27, 061
20. 065
6, 996
46
2.6
19, 281
15, 069
4,212
45
2.6
19, 329
15, 417
3, 912
2, 143
5.5
289
216
73
2,098
5.4
369
356
13
1,932
4.9
355
263
92
1, 95/
5.0
335
322
13
1. 975
5.0
352
270
82
1, 839
979
860
177
96
81
938
884
124
81
43
1, 967
1,139
828
146
63
83
2,043
1, 249
794
159
104
1.973
1,221
752
219
155
64
285
280
5
342
309
33
i
205
104
102
101
266
116
112
150
261
136
i:
125
INDUSTRIAL ELECTRIC TRUCKS
AND TRACTORS
Shipments, total
D omestic
Exports
number.
do
do
435
425
10
371
336
35
400
383
17
384
373
11
400
391
9
360
343
17
382
344
38 i
438
415
23
420
418
2
367
352
15
411 !
380 ;
31 j
CANADIAN STATISTICS
Physical volume of business, adjusted:
Combined indexf
1935-39 = 100_.
Industrial production, combined indexf
1935-39 = 100 __
Construct ion t
do
Electric power
do
Manufacturing!
do
Forestry!
do
M iningf
do
Distribution, combined indexf
do
Tons carried*
do
Agricultural marketings, adjusted:!
Combined index
do
Grain
do
Livestock
do
Commodity prices:
Cost of living
do
Wholesale prices
1926= 100_.
Employment (first of month, unadjusted):
Combined index
do
Construction and maintenance
do
Manufacturing
do
Mining
do
Service
do
Trade
do
Transportation
do
Finance:
Bank debits
mil. of dol_.
Commercial failures
number..
Life-insurance sales, new paid for ordinary
thous. of dol._
Railways:
Carloadings
thous. of cars-.
Financial results:
Operating revenues
thous. of dol_.
Operating expenses
do
Operating income
do... _
Revenue freight carried 1 mile _ mil. of tons.
Passengers carried 1 mile
mil. of pass
Production:
Electric power, central stations
mil. of kw.-hr..
Pig iron
thous. of long tons..
Steel ingots and castings
do
Wheat
flour
thous. of bbl._
r 196. 2
198.1
195.5
200.0
203.7
205.7
206.1
207.2
207.8
221.2
••217.9
145.0
141.7
r 225. 8
148.0
234.2
151.2
177.4
220.8
143.0
144.3
231. 0
137.8
226.9
151. 3
189.3
217.3
95.8
146.1
232. 5
132.7
211.3
150. 2
182.3
222.1
157.1
146. 6
235.7
131.2
196.3
153.9
188.1
229.4
118.7
145. 8
246. 2
128.5
213.3
150. 5
176.2
232.5
114.3
142.8
248.8
120.7
216.6
150.4
163.0
235.1
127.8
140.0
253.3
116.2
225.8
145. 8
127.1
238.6
97.8
138.5
262.6
126.7
195.7
142.1
127.9
293.3
106.9
137.3
263.4
116. 7
192.0
142.7
142.0
250.8
101.5
140.1
276.2
124.7
209.6
160.6
173.4
' 254. 6
'95.0
142.5
279.0
' 105. 6
225.3
166.3
155.1
267.8
140.7
141.8
290.8
120.7
226.1
143.3
175.5
81.6
74.9
110.8
84.8
84.2
87.0
83.7
84.3
80.9
88.6
82.8
113.8
237. 7
270.9
93.4
99.6
98.8
102.9
43.6
33.9
85.7
106.6
112.9
78.9
95.4
90.4
117.0
141.7
146.4
121.2
133.5
149.8
62.8
110.3
113. 3
97.2
115.9
'95.0
115.9
95.0
116. 1
95.2
116.7
95.8
117.9
••96. 1
117.7
95.5
117.4
'95.8
117.8
'96.6
118.6
'97.0
118.8
97.0
117.1
97.1
116.9
97.5
165. 1
103.7
195.7
176. 4
169.1
151.7
97.5
165.2
98.0
199.4
175. 0
172.8
153.0
99.0
167.4
109. 3
202.3
173.5
176. 3
153. 5
104.1
171. 7
123.3
205. 9
173. 1
180.6
153.7
106. 4
175.7
137. 7
209.5
174.1
184.8
152.8
108.1
177.8
146.8
212.4
172.3
189.4
152.5
110.4
179.3
146. 5
215. 6
166.8
188.2
152.3
110.0
181.3
149.6
218.3
164.3
185.1
153.5
111.7
183.3
154. 9
218.6
163.0
182.6
156.5
110.6
186.5
151.3
221.7
' 162.0
182.0
164.5
109.4
183.7
132. 1
219.6
162.4
180.5
169.9
107.8
35
4, 177
56
3, 733
46
3,791
53
3. 767
46
3,704
47
3.480
42
3, 516
39
4,073
47
4,967
56
4, 195
36
3,900
25
3,712
29
46, 730
35, 876
36, 232
40, 336
43, 898
44, 868
39, 963
55, 798
57, 795
52, 042
45, 576
40, 420
40, 420
271
273
283
287
294
282
290
323
291
273
237
247
50, 858
37,338
10, 036
4,580
325
50, 597
36, 526
10, 303
4,439
361
53. 036
37, 606
11,510
4,891
375
55, 247
39, 419
11, 696
4,807
412
57, 529
42. 004
10. 582
4,705
511
58, 881
43, 371
10, 753
4,593
532
58, 590
42, 670
11, 803
4,550
452
61, 281
43, 742
15, 424
5,171
404
56, 926
41, 885
11,509
5,077
385
63, 593
45, 750
13, 284
4,750
652
50, 679
41,146
6,190
4,063
411
3,221
149
237
1,807
3,083
143
237
1, 961
3, 175
153
243
1,481
3,043
150
227
1,335
2,966
154
229
1,590
2,990
145
222
1,820
2,947
139
219
1,737
3,166
157
242
1,851
3,181
152
242
1,973
3,249
147
241
2,063
3,218
104
185
1,963
117.2
98.5
143
242
227.3
2,951
'123
219
1.991
' Revised.
f Revised series. The revision of the index of physical volume of business is due mainly to a change in the weighting and in the list of components, so as to present a picture
of the expansion in industries engaged in war production. Revised data were first shown on p. S-36 of the December 1942 Survey; subsequently the construction index was
further revised in the March 1943 Survey. The index of grain marketings is based on receipts at country elevators instead of receipts at head of Lake and Pacific ports, as
formerly. For revised monthly averages for 1941 see note marked " f ' o n p . S-36 of the April 1943 Survey. Revisions for agricultural marketings beginning 1919 and for other
series beginning January 1940 are available on request.
*New series. The index of tons carried has been substituted for the index of carloadings; data beginning 1928 will appear in a subsequent issue; 1941 monthly average,
154.4. Components included in the distribution index other than tons carried are retail sales, wholesale sales, exports, and imports.
U . S . GOVERNMENT PRINTING OFFICE: t»43
INDEX TO MONTHLY BUSINESS STATISTICS, Pages S1-S36
CLASSIFICATION, BY SECTIONS
Monthly business statistics:
Business indexes.
__ __ _
Commodity prices
Construction and real estate
Domestic trade
__
Employment conditions and wages.
Finance
Foreign trade
__
Transportation and communications
Statistics on individual industries:
Chemicals and allied products..
Electric power and gas
Foodstuffs and tobacco
Leather and products
Lumber and manufactures
Metals and manufactures:
Iron and steel
Nonferrous metals and products
Machinery and apparatus
Paper and printing
Petroleum and coal productsStone, clay, and glass products..
Texrtle products
Transportation equipment
Canadian statistics
Page
S-l
S-3
S-4
S-6
S-8
S-14
S-21
S-21
S-23
S-24
S-25
S-28
S-29
S-29
S-30
S-31
S-31
S-32
S-34
S-34
S-3 5
S-36
CLASSIFICATION, BY INDIVIDUAL
SERIES
Pages marked S
Abrasive paper and cloth (coated)
34
Acceptances, bankers'
14
Advertising
6
Agricultural income, marketings
1
Agricultural wages, loans
14, 15
Air mi il and aii-line operations
7, 22
Aircraft
11,13
Alcohol, methyl
23
Alcoholic beverages
1, 2, 25
Aluminum
30
Animal fats, greases
23
Anthracite
2, 3, 10,11,12,14, 32
Apparel, wearing
3, 6, 7, 9, 10, 11,12, 13, 34, 35
Asphalt
33
Automobiles
1, 2, 6, 7, 9, 11,12,13, 17, 35
Banking
14,15
Barley
26
Bearing metal
30
Beef and veal
27
Beverages, alcoholic
1,2,25
Bituminous coal
2,3, 10,11, 12,14,32,33
Boilers
30
Bonds, issues, prices, sales, yields
19, 20
Book publication
32
Brass, bronze, and copper products
30
Brick
3,34
Brokers' loans
15,19
Building contracts awarded
4, 5
Building costs
5
Building expenditures (indexes)
4,5
Building-materials, prices, retail trade
3, 7
Butter
25
California, employment and pay rolls
10,12
Canadian statistics
17, 36
Canal traffic.22
Candy
_
_
27
Capital
flotations
18,19
For productive uses
19
Carloadings
22
Cattle and calves
26
Cement
1, 2,3,34
Chain-store sales
7, 8
Cheese
_
25
Chemicals
1. 2, 3, 9, 10,11,12,13,14,16, 17, 23
Cigars and cigarettes
„
28
Civil-service employees
10
Clay products
1, 2, 9, 11, 12, 13, 16, 34
Clothing
3, 6, 7, 9,10,11, 12,13, 34, 35
Coal
2, 3,10,11,12,14, 32, 33
Coffee
27
Coke
2,33
Commercial failures
16
Commercial paper
14
Construction:
Construction estimates
4,5
Contracts awarded
4, 5
Costs
__
5
H ighways and grade crossings
5
Wage rates
_._
_
14
Consumer credit
16
Consumer expenditures
7
Copper
30
Copra or coconut oil
23
Corn
26
Cost-of-living index
3,4
Cotton, raw, and manufactures
1,
r
2,3,9,10,13,34,35
Cottonseed, cake and meal, oil
23
Crops
1, 23, 24, 25, 26, 27
Currency in circulation
17
Dairy products
1, 2,3, 25
Debits, bank
15
Debt, United States Government
18
Delaware, employment, pay rolls, wages. 10,12,14
Department stores, sales, stocks, collections.
8
Deposits, bank___
__
15
Disputes,
industrial
11
Pages marked S
Dividend payments and rates
1, 20
Earnings, weekly and hourly
13,14
Eggs and chickens. _„
1,3,27
Electrical equipment
2,6,31
Electric power production, sales, revenues, _ 24, 25
Employment, estimated
8
Employment indexes:
Factory, by cities and States..
10
Factory, by industries
9,10
Nonmanufacturing
10
Employment, security operations
II
Emigration and immigration
22
Engineering construction
5
Exchange rates, foreign
17
Expenditures, United States Government
18
Explosives
23
Exports
21
Factory, employment, pay rolls, hours, wages.
8,
9,10,11,12,13,14
Fairchild's retail price index
3,23,24
Farm wages
14
Farm prices, index
,.
_.
3, 4
Fats and oils
3
Federal Government,
finance
18
Federal Reserve banks, condition of
15
Federal Reserve reporting member banks..
15
Fertilizers
3, 23
Fire losses
6
Fish oils, and
fish
23, 27
Flaxseed
23,24
Flooring
29
Flour, wheat
26
Food products.-1, 2,3,4,
6, 7, 9, 10, 11, 12,13,14,16, 17, 24, 25, 26, 27
Footwear
1,2,4,9, 10, 12, 13,14,28
Foreclosures, real estate
6
Foundry equipment
31
Freight cars (equipment)
36
Freight carloadings, cars, indexes
22
Freight-car surplus
22
Fruits and vegetables
3,25
Fuel equipment and heating apparatus
31
Fuels
2,3,32,33
Furniture
1, 4, 9,11,12,13, 29,30
Gas, customers, sales, revenues
24, 25
Gas ana fuel oils
33
Gasoline
33
Gelatin, edible
.
27
Glass and glassware.
1, 2, 9, 11, 12,13,16,34
Gloves and mittens
28
Gold.__
.
__
17
Goods in warehouses
.
6
Grains
3,19,26
Gypsum
34
Hides and skins.-.
4,28
Highways, and grade crossings, Federal aid.
5
Hogs
_-_
27
Home-loan banks, loans outstanding
6
Home mortgages
6
Hosiery
. . 4,34
Hotels
10,12,22
Hours per week
11
Housefurnishings
3,4,6, 7
Housing
3,4
Illinois, employment, pay rolls, wages
10,12,14
Immigration and emigration
22
Imports
.
21
Income payments
.
1
Income-tax receipts
18
Incorporations, business, nevr
17
Industrial production, indexes
1,2
Installment loans.16
Installment sales, department stores
8
Insurance, life
16,17
Interest and money rates
15
Inventories, manufacturers'and trade
2,3
Iron and steel, crude, manufactures
2,4,
9.11,13,16,17,29,30
Kerosene
..
33
Labor force
.
8
Labor, turn-over, disputes
11
Lamb and mutton .
27
Lard
27
Lead
30
Leather
1, 2,4, 9,10,11,12, 13,14,16, 28
Linseed oil, cake, and meal
24
Livestock
1,3,26,27
Loans, real-estate, agricultural, bank, brokers'
(see also Consumer credit)
5, 6,15,18,19
Locomotives
36
Looms, woolen, activity
35
Lubricants
33
Lumber
1,2,3,9,11,12,13,16,29
Machine activity, cotton, wool
35
Machine tools
11,13,31
Machinery
..
1,2,9,11,12,13,16,17,31
Magazine advertising
6
Manufacturers' orders, shipments, inventories
2,3
Manufacturing production indexes
1, 2
Maryland, employment, pay rolls
10,12
Massachusetts, employment, pay rolls, wages.
10,
12,14
Meats end meat packing
1, 2,
3,9,10,12,13,14,27
Metals
1, 2,4, 9,11,12,13,17, 29
Methanol
23
Milk
25
Minerals...
2,10,12,14
Naval stores
23
New Jersey, employment, pay rolls, wages.
10.
12,14
Newspaper advertising
.
^
6
Newsprint
_
--32
Pages marked S
New York, employment, pay rolls, wagCB_10,12,14
New York canal traffic
.— ' 22
New York Stock Exchange
19,20
Oats
—.-.26
Ohio, employment, pay rolls
. . . . — 10,12
Oils and fats
,
3,23.24
Oleomargarine
....
24
Orders, new, manufacturers'
..._..-._
2
Paint and paint materials
- - - 3, 24
Paper and pulp_ ..2,4,9,10,11,12,13,14,16,31/32
Passports issued
22
Pay rolls:
Factory, by cities and States
..
12
Factory, by industries
.
. . . 11,12
Nonmanufacturi ng industries
12
Pennsylvania, employment, pay rolls, wages.
10,
12,14
Petroleum and products
2,
3,9,10,11,12,13,14,17,33
Pig iron
>.
30
Porcelain enameled products
30
Pork.
27
Postal business
7
Postal savings
15
Poultry and eggs
- 1,3, 27
Prices (see also individual commodities):
Retail indexes
.
3
Wholesale indexes3,4
Printing
2,9,10,11,12,13,14,16,32
Profits, corporation
17
Public relief..
_
14
Public utilities
4,10,11,12,14,17,19, 20
Pullman C o . . .
22
Pumps...
31
Purchasing power of the dollar. .
. 4
Radio-advertising
.
.—
6
Railways, operations, equipment, financial
statistics, employment, wages . . . . . . . . .
10,
11,12,14,16.17,18.19, 20, 21,22,36
Railways, street (see Street railways, etc.).
Rayon
_
2,4,9,10,12,13,35
Receipts, U. S. Government
18
Reconstruction Finance Corporation, loans.
18
Rents (housing), index
;.• - 3
Retail trade:
All retail stores, sales
.....
7
Chain stores. __
7,8
Department stores—
.
8
Mail order
8
Rural, general merchandise
-8
Rice
26
River traffic
22
Roofing, asphalt
.
33
Rubber products
2,4,9,10,11,12,13,14
Savings deposits
.
...—
15
Sheep and lambs
27
Shipbuilding
11,13
Shipments, manufactures
.
.
2
Shoes
1,2,4,9,10,12,13,14,28
Shortenings
24
Silver
.
17
Skins
28
Slaughtering and meat packing
......
1,
2,9,10,12,13,14,27
Soybeans and soybean o i l . .
.....
24
Spindle activity, cotton, wool
•.
35
Steel and iron (see Iron and steel).
Steel, scrap
*
29
Stockholders
21
Stock, department store (see also manufacturers' inventories)
.
8
Stocks, issues, prices, sales, yields
18,19,20,21
Stone, clay, and glass products
.
.
1,
2,9,11,12,13,16,34
Street railways and busses
10,11,12,14
Sugar
.
.
27
Sulphur
.
..
23
Sulphuric acid
23
Superphosphate
. . . . . . . . . -23
Telephone, telegraph, cable, and radio-telegraph carriers
10,11,12,14,17,22
Textiles
2,4. 9,10,11,12,13,16,34,35
Tile
34
Tin
30
Tobacco
2,9,10,11,12,13,14,28
Tools, machine—
11,13,31
Trade, retail and wholesale .3, 7,8,10, 11,12,14,16
Transit lines, local
.
'21
Transportation,Commodity and passenger.- 21, 22
Transportation equipment
. ........
1»
2,9,11,12,13,10,35,36
Travel..
*
22
Trucks and tractors, industrial, electric
.
36
Unemployment
.-'
...
8
United States Government bonds—
19, 20
United States Government,
finance.—.-_
18
United States Steel Corporation
- - - - - 21,30
Utilities
4,10,11,12,14,16,17,19, 20
Variety-store sales i n d e x . . . .
.....
.-•
7,8
Vegetable oils.
23
Vegetables and fruits
. . . . — . . 3, 25
Wages, factory, and miscellaneous....
13,14
War program and expenditures...
..
18
War Savings bonds
.....
18
Warehouses, space occupied..
*•„
..
6
Water transportation, employment, p a y
rolls..
10,12
Waterway traffic
22
Wheat and wheat
flour
26
Wholesale price indexes
„
3,4
Wisconsin, employment, pay rolls, wages. 10,12,14
Woodpulp.^-.i
4,31
Wool and wool manufactures.. 2,4,9,10,12,13,35
Zinc...
30
@FedFRASER