Full text of Survey of Current Business : May 1952
The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.
MAY 1952 JSJNH U. S. DEPARTMENT OF COMMERCE BUREAU OF FOREIGN AND DOMESTIC COMMERCE OFFICE OF BUSINESS ECONOMICS OF C U R R E N T SURVEY xj* /£/ W W ^s. BUSINESS 5»£2££< ^HL , \*\ H Vol. 32 W , M \<\ _ q*ro*» *£&A No. 5 MAY 1952 \ W •3lEs£" ^» ^^ ^ontci^fo/ j^ t i PAGE THE BUSINESS SITUATION . . . . Review of National Income and Product in the First Quarter of 1952 . if * 1 3 * SPECIAL ARTICLES 1 Labor Income in the Postwar Period . 14 Foreign Aid in 1*551 International Exchange of Services A $3-Billion Two-Way United States Market . . . 1 8 * * * MONTHLY BUSINESS STATISTICS . . . . S-l to S-40 Statistical Index . . . . . . . . . . Inside Back Cover Published by the 17. S. Department of Commerce, C H A R L E S S A W Y E R , Secretary. Office of Business Economics, M, JOSEPH MEEHAN, Director. Subscription price, including weekly statistical supplement, is $3.25 a year; Foreign, $4.25 Single copy,, 30 cents. Send remittances to any Department of Commerce Field Office or to the Superintendent of Documents^ United States Government Printing Office, Washington 25, D. C. Special subscription arrangements, including changes of address, should be made directly with the Superintendent of Documents, Make checks payable to Treasurer of the United States, DEPARTMENT OF C O M M E R C E FIELD SERVICE Albuquerque, N. Mez, 203 W. Gold Are, Memphis 3, Teno. 229 Federal Bids. Atlanta 3, Ga. 86 Foray th St. NW. Miami 32, Fla. 36 NE. First St, Baltimore 2, Md. 200 E. Lexington St. Milwaukee 2, Wis. 207 E. Michigan St. Boston 9, Mass. 40 Broad Si, Minneapolis 2, Minn. 607 Marquetfe Ave. Buffalo 3, N. Y. 117 Ellicott Sti Mobile 10, Ala. 109-13 St. Joseph St, Butte, Mont. 306 Federal Bldg. New Orleans 12, La. 333 St, Charlea Ave, Charleston 4, S. C. Area 2, Sergeant Jasper Bldg. New York 36, N. Y. 2 West 43d St . Cheyenne, Wyo. 308 Federal Office Bldg. Oklahoma City 2, Okla, 114 N, Broadway Chicago 1, III. 221 N. LaSaSle St, Omaha, Nebr. 403 So. 15th St. Cincinnati 2, Ohio 105 W. Fourth St< Philadelphia 7, Pa. 1015 Chestnut St. Cleveland 14, Ohio 925 Euclid Ars, Phoenix, Ariz. 311 N, Central Ave. Dallas 2, Tex. 1114 Commerce St* Pittsburgh 22, Pa. 717 Liberty Ave, Denver 2, Colo. 142 New Custom Hoctse Portland 4, Oreg, 520 SW. Morrison St, Detroit 26, Mich. 1214 Griswold St, Providence 3, R. I. 327 Posl OSice Annex El Paso, Tex. Chamber of Commerce Bldg. Reno, Nev. 1479 Wells Ave, Hartford 1, Coan. 135 High St. Richmond, Ya, 400 East Main St, Houston 2, Tex, 1018 Preston Ave. St, Louis 1, Mo, 1114 Market Si, Jacksonville 1, Fla. 311 W. Monroe St< Salt Lake City 1, Utah 109 W. Second St., So. Kansas City 6, Mo. 903 McGee St. San Francisco 2, Calif. 870 Market St. Los Angelea 15, Calif. 112 West 9th St0 Savannah, Ga. 125-29 Ball St, Loaiaviile 2, Ky. 631 Federal Bid*. Seattle 4, Wash. 123 U. S. Court House For local telephone listing? consult section devoted to U, S, Government MAY 1952 BY THE OFFICE OF BUSINESS ECONOMICS JjUSINESS activity in the March-April period was little changed except for a further rise in the Government sector. National defense expenditures in April were one-eighth above the first quarter monthly rate. As a result, the moderately rising* trend in total national output has been extended into the second quarter. Civilian employment increased by the usual seasonal amount from March to April—to a total of 60 million. Retail trade did not extend the modest gains made m the preceding 6 months, on a seasonally adjusted basis. Dollar sales of durable goods continued relatively low in March—13 percent below a year ago. In contrast, the iiondurables groups reported sales only 2 percent lower. Persistent cautious buying by consumers was reflected in less than a seasonal increase in orders placed with manufacturers, particularly for consumer durables, and in moderate declines in sales and output for a number of civilian industries. This easing in orders was accompanied by further modest inventory liquidation by retailers and, on the other hand, by additions to stocks of many consumer durables held by manufacturers. For many of these items the stocks-sales ratios have continued to be unusually high in March. remaining $15 billion consists of Armed Forces pay and purchases of other services. In recent months, pay arid subsistence of the Armed Forces have tended to level off as personnel approached its projected peak, with the result that the increases in total defense expenditures have been largely in military hard goods and construction. A }Tear ago these items comprised Goods Production Durable goods now 34 percent of total output too \ 75 NONDURABLE GOODS A.ND SERVICES y so Durables output more important Throughout the past 2 years, the economic situation has been characterized by the unevenness of developments in various sectors of the economy. One aspect of this is indicated by the accompanying chart which shows the great expansion in the durable goods industries. This segment now accounts for an unusually large share of the national output—34 percent—as a result of defense requirements and the vast expansion underway in investment facilities. This chart throws some light on what many individual businessmen regard as a puzzling situation: namely, continued expansion of total output as depicted in the chart on page 3 of this issue, and, at the same time, the occurrence of widespread declines in particular lines of business. Expansion in the past year has taken the form of military equipment and new business plant and equipment, while goods which move through normal channels of retail distribution, such as the consumer durable goods, are down in volume from a year ago. In some lines, the declines have been large, in others only moderate, and in the important food segment accounting for a third of total consumers' expenditures, the volume has been sustained. National defense expenditures were at an annual rate of $45 billion in the first quarter of 1952. More than half of this total consists of purchases of hard goods, such as airplanes, combat arid noncombat vehicles, ammunition, and electrical equipment, and expenditures for military construction. Purchases of soft goods, including food and clothing, represents about $4 billion of the total, and the U9S8930—52 1 DURABLE GOODS AND CONSTRUCTION . 1st 1952 Munitions and plant and equipment expenditures account for the increase in total durable goods and construction t 25 ALL OTHER DURABLE GOODS AND IOO — CONSTRUCTION 5 75 - O a 3 50 — CONSUMERS' DURABLE GOODS MILITARY HARD GOODS AND CONSTRUCTION 1950 1951 1952 Fif?ST QUARTER, SEASONALLY ADJUSTED, At,ANNUAL RATES U S. DEPARTMENT ,OF COMMERCE, OFFICE OF BUSINESS ECONOMICS SURVEY OF CURRENT BUSINESS only one-fourth of the much smaller total of defense expenditures. The rise in purchases of military hard goods arid construction was from an annual rate of $7.5 billion in the first quarter of last year to about $25 billion in the first quarter of 1952. Pattern of military expenditures In view of the very slow rate at which the size of the Armed Forces is scheduled to increase from the current position, expenditures for pay and subsistence are likely to remain relatively stable so that further increases in defense expenditures in the remainder of this year will reflect increasing deliveries of munitions. By the year-end, munitions and military construction will thus comprise a much larger proportion of total national security expenditures than at the present time. The existing pattern of purchases is reflected in the greater strength shown by production and prices of durable goods for defense and capital use than in many soft-goods industries. Merchandising efforts in most lines of consumer goods are being intensified, Wholesale and consumer prices remain stable, on the average, with supplies increasingly adequate and buying conservative. Food prices have drifted downward, and some other commodities have been reduced, but a wide range of commodities remain at peak prices, with some ceilings being advanced. Lower prices prevailed for certain types of raw materials while most finished industrial products remained firm. Major cost elements other than purchased materials moved sideways or edged upward. With respect to one such cost, the Interstate Commerce Commission on April 11 authorized increases in railroad freight rates amounting to 6.8 percent, on a weighted average basis, over rates currently in effect. Credit restrictions eased further In recognition of the waning inflationary pressures, a number of Government agencies have taken steps to relax existing controls. The Federal Reserve Board on May 7 suspended the regulation on consumer installment credit. Following the reinstatement of Regulation W in September 1950, the rise in installment credit was checked and has remained fairly stable since March of 1951. A few days earlier the Board suspended the Voluntary Credit Restraint program. Price controls were suspended for additional commodities in April and early May, chiefly raw materials which have fallen substantially below their recent peak levels. Controls were also relaxed on additional materials by the National Production Authority to liberalize their consumption by producers. Thus, we have a mixed picture of price changes within an over-all average which, as indicated above, continues to move sideways. Manufacturers' backlogs remain large Business buying showed a somewhat smaller-than-seasonal increase from February to March. New order volume has been fairly steady since the middle of last year, about onefifth below the buying climax of March 1951. The only major industry group, electrical machinery and equipment, which received new orders in March in heavier volume than a year ago is closely tied in with the current great expansion of industiral capacity and also with materiel destined for the Armed Forces. May 1952 The fact that the unfilled orders backlog has remained at the peak level of roughly $63 billion for the last 3 months, plus the fact that the military authorities will shortly have the 1953 funds for further placements, points to the broad foundation of current industrial activity. The bulk of the unfilled orders is, of course, for durable goods and especially for machinery, both electrical and nonelectrical, and transportation equipment including motor vehicles and parts. For the durable-goods industries as a whole, they represent 5 months' sales. Backlogs in the nondurable-goods industries appear to have leveled out in February and March at a volume somewhat less than half that of the 1951 peak amount. Industrial output in April, aside from modest losses of production in the steel industry, was maintained around the high first-quarter rate. In the case of steel, operations have been interrrupted for short periods as a result of the labor dispute in the industry. Steel output in April, as a whole, was about 10 percent below the record March volume, and there has been some further loss of tonnage in May. Decreases in output also occurred in other industries for various reasons, but these were of small proportions and largely offset by increases elsewhere. Mixed industrial trends In general, output of producers' durable goods was in large volume, particularly in the metalworking plants turning out defense orders. Shipments of machine tools, which were at a postwar peak in March, apparently experienced some further gain in April. Automobile plants increased their activity as material supplies eased and in anticipation of the spring selling season. Assemblies in April totaled 525,000 units—415,000 passenger cars and 110,000 trucks—the best month's volume since July 1951. It should be pointed out, too, that the industry is heavily engaged in the production of defense materiel. In the fourth quarter of 1951, shipments against rated orders accounted for approximately 20 percent of total shipments of the industry. Output of other consumer durables, on the basis of preliminary information, declined from March to April. The number of television sets produced dropped nearly onefourth on a daily average basis although radio production held steady. Plants producing such important consumer durable goods as refrigerators, farm and home freezers, electric ranges, and washing machines curtailed operations in April and again in May for inventory adjustments with consequent layoffs in production workers. Stocks of most of these household appliances in manufacturers' warehouses and in the hands of distributors at the end of March were the highest in the postwar period. Among the nondurable goods industries, decreases occurred in the output of textiles, paperboard, leather and products, and some nonindustrial chemicals. Textile output, which had moved up in the early months of the year following a steady decline throughout most of 1951, again declined in March and early April. As a result, mill activity returned to the low point reached last December. A similar though less pronounced pattern developed in the paperboard industry. New orders in this industry have been generally below production for nearly a year and backlogs have been reduced by close to one-half from year-ago levels. For most other nondurables, including food, newsprint, motor fuel, and industrial chemicals, production expanded somewhat or was generally maintained at the first-quarter rate. Review of National Income and Product In the First Quarter of _L HE economic position in the first quarter of the year was one of over-all gradual expansion. In the various segments of the economy, however, rates of change continued co differ widely. As a result of sustained demand and a somewhat easier supply situation, the market value of the Nation's output of goods and services, as measured by the gross national Gross National Product: Final Purchases rise steadily but Inventory Accumulation is sharply reduced Billions of Dot lars 400 350 6SOSS NATIONAL PRODUCT 300 — ^* FINAL PURCHASES CHANGE IN BUSINESS INVENTORIES 250 Government Purchases and Fixed Investment rise as Personal Consumption remains sluggish 350 FINAL 1952 An estimate of total income arising in production is not yet available because of the lack of adequate corporate profits data for the first quarter. However, the sum of other types of production incomes shows a gradual uptrend similar to that of the gross national product. With respect to corporate profits, company reports published to date indicate first quarter figures, both before and after taxes, substantially below those of the corresponding period of last year. The large declines, it should be noted, are attributable to the fact that inventory profits were at an annual rate of $9 billion in the initial quarter of 1951, when inventory cost prices were rising, but were negligible in the current period of relative price stability. Personal income—the sum of income receipts of persons from all sources—was at an annual rate of $258 billion, only $1 billion higher than in the preceding quarter. The smaller increase in this series than in the measures of national output is attributable in part to a drop in the ratio of corporate earnings disbursed to stockholders. Fourth-quarter 1951 dividend payments had included an appreciable volume of extra and special disbursements made at the year-end. In addition, two other factors were operative. Fourthquarter 1951 personal income had been raised by sizable retroactive payments to Federal civilian employees which were absent in the first. Deduction in the first quarter of the initial payments of social-security contributions by selfemployed persons under the extended coverage of the Social Security Act served further to lower personal income in relation to the final quarter of last year. PURCHASES 300 Final demand form 250 200 P E R S O N A L CONSUMPTION EXPENDITURES 100 50 1950 1951 1952 QUARTERLY TOTALS, SEASONALLY ADJUSTED, AT ANNUAL RATES U. S. DEPARTMENT OF COMMERCE. OFFICE OF BUSINESS ECONOMICS 52 - 66 product, increased at seasonally adjusted annual rates from $334% billion in the final quarter of last year to $339% billion in the first quarter of 1952. This moderate increase represented in the main a larger physical volume of production. The pattern of first quarter economic developments, particularly when viewed as a continuation of tendencies that were in evidence during the second half of 1951, suggests a gradual and orderly build-up in the pace of economic activity. The chart shows the continued potency of total final demand, that is, aggregate demand other than the net draft on current production by the business community for inventory purposes. Aside from the two post-Korean buying splurges, this demand, in the aggregate, has displayed a remarkably even pattern of growth since early 1950. This is so despite substantial changes in the composition of final demand. Over the past year, for example, personal consumption has not shown the expansion manifest in fixed capital investment and government procurement, and in some consumption lines there have been sharp contractions. In contrast to the even trend of aggregate final demand, gross national product has shown a marked shift in tempo. It advanced much more rapidly than final demand during the first year of the mobilization program, under the added pressure of the tremendous wave of forward buying. Since mid1951, it has increased at a less rapid pace, as the rate of inventory accumulation steadily subsided. The significance of the shift in the inventory position is readily seen in the fact that for the past three quarters the growth in final purchases has been met by declines in the SURVEY OF CURRENT BUSINESS rates of inventory accumulation as much as by the increases in national output. The average quarterly increase in final purchases since mid-1951 has amounted to $9 billion, at annual rates, whereas the average increase in national output has amounted to only $4 billion, the balance being made up May 1952 by a $5 billion average decline in the rate of inventory accumulation. By the end of the first quarter of the year, the curves of output and final purchases had nearly converged, as the rate of inventory accumulation dwindled to negligible proportions. Table 1.—National Income and Product, 1951 and First Quarter 1952 1 [Billions of dollars] 1Jnadjusted 1 2 1951 Se asonally a<Ijusted at jmnual rate s 19 51 I III II 19 51 1952 IV 2 I II III 269.4 274.3 278.0 280.1 177.5 168.9 140.6 8.9 19.4 8.7 180.6 171.7 141.3 9 6 20.9 8.9 182 0 173.1 142.0 2.4 172.1 163.6 137.1 7.8 18.8 8.5 8.9 9 0 12.1 6.0 4.0 2.1 48.8 24.1 16.4 8.3 48.1 23.6 16.3 8.2 49.1 23.4 17 3 8.4 49.8 23.6 17 6 8 5 48 6 24 2 15 9 8 5 43.0 45.4 25 9 19 4 —2.3 42 39 22 17 2 42 40 22 17 2 I IV 2 1952 I NATIONAL INCOME BY DISTRIBUTIVE SHARES National income Compensation of employees Wages and salaries ' Private . Military Government civilian Supplements to wages and salaries _ _ __ 275.5 66.0 68.5 70.1 70.8 178.1 169.4 140.3 8.7 42.4 40.2 33.4 1.9 4.8 2.3 44.3 42.0 34.8 2.2 4.9 2.3 45.3 43.2 35.9 2.4 4.9 2.2 46.1 44.1 36.1 C33) () 2.0 48.9 23.7 16.9 8.3 12.2 6.0 4.1 2.1 12.0 5.9 4.1 2.0 12.3 5.8 4.3 2.1 12.4 5.9 4.4 2.1 42.8 44.3 25.3 18.9 -1.5 10.0 12.2 7.0 5.2 -2.2 10.8 11.4 6.5 4.9 -.6 11. 1 10.4 59 4.4 .7 10.9 10.3 5.9 4.4 .6 .0 42.9 51.8 29.6 22.2 -8.9 5.7 27.7 1.4 6.4 1.4 6.8 1.4 7.0 1.5 7.6 1.5 77 5.6 25.2 5.7 27 0 58 29 0 58 29 7 59 30 5 327.8 78.5 79.4 82.0 88.0 83.6 319.5 328.2 329 5 334 6 339 7 205.5 26.8 111.8 66.8 49.5 6.9 26.1 16.5 49.9 6.3 26 9 16.7 50.0 6.2 27 1 16.6 56.1 7.4 31 7 17.0 49 6 5. 5 26 8 17.4 208.8 31.3 112 1 65.4 202 4 25.9 110 1 66 5 204 0 25 2 111 5 67 3 206 7 25 0 113 6 68 1 209 6 25 0 115 6 69 0 59.1 22.2 10 9 11.3 27 3 9.7 8.0 16.7 5.0 2.6 2.4 6 4 5.3 4.9 14.4 5.7 2 8 2.9 70 17 1.2 14.7 6.1 29 32 6 5 2 0 1.6 13.4 5.4 2 7 2.7 7 4 7 3 15 1 4 8 2 2 2 7 7 6 2 7 2 3 60.2 23.8 12 9 10 9 25 9 10 6 9.1 65 22 10 11 27 15 14 56 6 21 6 9 8 11 8 27 0 80 6 2 54 20 10 10 29 4 3 53 22 10 11 30 (3) (3) _ Proprietors' and rental income 4 Business and professional Farm Rental income o f persons _ _ _ __, Corporate profits and inventory valuation adjustment Corporate profits before tax Corporate profits tax liability Corporate profits after tax In ven tor y valuation ad j ustment __ . _ __ __ Net interest _ _ Addendum: Compensation of general government employees (3) 45.8 43.3 35.3 (3) (3) (3) (3) (3) (3) 6 8 8 0 8 (3) (3) 5 0 9 i 5 (3) 185 8 176 8 144 9 (3) (3) (3) (3) (3) (3) — 1 GROSS NATIONAL PRODUCT OR EXPENDITURE Gross national product. . Personal consumption expenditures Durable goods. Nondurable goods Services _ Gross private domestic investment New construction Residential nonfarm Other.. . Producers' durable equipment Change in business inventories, total Nonfarm only . _ _ .2 —.7 .0 .3 6 6 —2.7 6 7 9 7 2 8 1 i 12 2 5 63.0 41.8 37 5 34 1 3.4 4 2 .2 21.4 13.0 8.1 7.2 6.4 .8 .9 .0 4.9 15 2 9.8 88 7 9 .9 9 .0 6.5 17 0 11.6 10 5 9 6 .8 12 .0 5.5 17 8 12 3 11 0 10 1 9 13 .0 55 18 4 13 1 11 8 11 2 6 13 .0 53 53 2 32.4 28 9 25 6 3.3 35 .2 21.0 60 3 39 1 35 3 31 7 36 37 .2 21 3 67 7 46 4 41 8 38 6 32 4 6 .2 21 4 70 7 49 2 44 1 40 5 36 51 .2 21 7 74 52 47 44 2 5 Persona] income 251.1 60.0 62 2 63 2 65 8 63 0 244 1 249 9 253 2 257 0 257 9 Less: Personal tax and nontax payments Federal State and local Equals: Disposable personal income. __ Less: Personal consumption expenditures Equals: Personal saving _ 28 4 25. 5 30 222.6 205 5 17.2 10. 5 9.6 9 49.5 49.5 .0 5 7 4 9 8 56 5 49 9 6.6 6 4 5.8 7 56.7 50 0 6.8 59 52 6 59 9 56 1 3.8 11 5 10 5 1 0 51 5 49 6 1.8 27 6 24.7 2 9 216.5 208 8 7.8 28 1 25 1 30 221 8 202 4 19.4 28 4 25 4 30 224.9 204 0 20.8 29 7 26 7 31 227.2 206 7 20.5 31 6 28 4 3 2 226 3 209 6 16.7 327.8 78.5 79.4 82.0 88.0 83.6 319. 5 328.2 329.5 334 6 339 7 23 5 25 4 .8 3 2 5 56 6 3 .2 5 .2 58 6 2 .2 1l .2 59 6.3 .2 5 .1 61 6 6 .2 4 2 .0 6 3 6 4 .2 22 6 25.9 .8 16 .8 23 1 24 9 .8 59 8 23 7 25 1 .8 2 3 .4 24 5 25 8 .8 35 .i 25 1 26 3 8 275.5 66.0 68.5 70.1 70.8 (3) 269.4 274.3 278.0 280 1 (3) 42.8 8.5 .0 11.7 4.9 9.4 .8 10.0 2.3 .0 2.9 1.1 2.1 .2 10.8 2.3 .0 2.9 1.4 2.2 .2 11.1 2.1 .2 2.9 1.1 2.2 .2 10.9 1.8 -.2 3.0 1.3 2.9 .2 (3) 42.9 8.3 .0 11.5 4.8 8.8 .8 43.0 8.4 .0 11.8 4.8 9.6 .8 42.6 8.5 .7 11.8 4.8 9.6 .8 42.5 8.6 —.7 11.8 4.9 9 8 .8 (3) 2.8 .0 3.0 1.1 2.2 .2 251.1 60.0 62.2 63.2 65.8 63.0 244.1 249.9 253.2 257.0 _ _ ._ ... Net foreign investment— ._ Government purchases of goods and services FederaL _ _ _ National security National defense Other national security. . Other Less: Government sales State and local. _ ._ ___ _ _ _ _ _ __ _ 6 7 1 6 o 9 3 4 7 9 9 4 2 —1 2 20 7 5 2 9 4 2 2 22 4 DISPOSITION OF PERSONAL INCOME _ _ __ _ _ _ _ _ _ RELATION OF GROSS NATIONAL PRODUCT, NATIONAL INCOME AND PERSONAL INCOME Gross national product Less* Capital consumption allowances Indirect business tax and nontax liability Business transfer payments __ _ Statistical discrepancy Plus: Subsidies less current surplus of Government enterprises . Equals: National income Less: Corporate profits and inventory valuation adjustment.. Contributions for social insurance _ _. Excess of wage accruals over disbursements Plus: Government transfer payments Net interest paid by Government _ Dividends Business transfer payments Equals: Personal income 1 2 _ Detail will not necessarily add to totals because of rounding. Data for the fourth quarter of 1951 are the same as those in the February issue of the SURVEY except that an actual estimate of fourth-quarter corporate profits has been introduced. 3 4 (3) .1 Not available. Includes noncorporate inventory valuation adjustment. Source: U. S. Department of Commerce, Office of Business Economics. (3) 4 9.1 o 11.9 4.9 91 .8 257.9 SUKVEY OF CURRENT BUSINESS May 19f>2 Demand for Gross National Product Government purchases of goods and services—Federal, State, and local combined—in the first three months of 1952 rose to an annual rate of $74/2 billion, as compared with $70% billion in the preceding quarter and $53 billion in the opening quarter of 1951. The most dynamic element in this total continued to be the purchases of the Federal Government for national defense purposes. These constituted 13 percent of total national output, as contrasted with 8 percent a year ago, and accounted for practically all of the firstquarter increase in the government sector, the remaining Components showing only small, offsetting changes. Rise in defense expenditures National defense expenditures have risen steadily, although their growth was slowed in the past two quarters. The average quarterly increase during the first nine months of 1951 amounted to $6 billion, at annual rates, falling to $3 billion in the next six months. This change in tempo is mainly attributable to the approach of the Armed Forces to their currently scheduled strength, and it reflects the tapering of increases in military and civilian defense-connected payrolls and in defense purchases of the related "soft goods" such as food, clothing, and equipage. A reduction in net stockpile acquisitions since September had a similar but less important influence in retarding the rise in total defense outlays. Most of the fourthand first-quarter increases in national defense expenditures, accordingly, were concentrated in hard goods and in military construction. Advance in private fixed investment At an annual rate of $53% billion, gross private domestic investment in the first quarter was slightly less than in the preceding quarter. Its major components, however, displayed sharply divergent movements. On the one hand, new private construction and producers' durable equipment, which taken together were virtually stable at $49-$50 billion at annual rates throughout 1951, increased to $53 billion in the first quarter. Construction showed the more rapid expansion of the two. Business inventory accumulation, on the other hand, continued a decline that has reduced net inventory investment from the peak annual rate of $16 billion in the second quarter of 1951 to less than $% billion in the first quarter of this year. Approximately $4% billion of this decline occurred in the March quarter and more than offset the increase in fixed capital outlays, so that total domestic investment registered a net decline of $1 billion from the preceding quarter. Construction shotvs broad advance The value of new private construction put in place in the first three months of 1952 was at an annual rate of $22% billion, $2 billion higher than the preceding quarter. This marked a considerable reversal of a downward trend that had continued since the first quarter of last year. Almost all of the major components of private new construction shared in the first-quarter upturn. Exceptions were public utility and farm construction, which were down slightly after registering increases throughout 1951. Private residential construction, which had been leveling off in the second half of last year, showed a brisk 8 percent advance in the first quarter. Moreover, the increase in the number of new housing starts points to the further expansion of residential construction in the coming quarter. Among other factors, the step-up in home-building activity in the March quarter reflected the smaller down-payment requirements and lengthened mortgage maturities provided for certain categories of moderately priced housing, an easing of mortgage funds, and greater availability of materials. Sizable first-quarter increases in commercial and institutional building after more than a year of steady decline also reflected the eased supply situation. Industrial construction, the most vigorous of the major construction components in the post-Korean expansion, more than recovered its fourth-quarter setback. Expenditures for producers' durable equipment advanced $1% billion in the first quarter to an annual rate of $30% billion—17 percent higher than in the corresponding period last year. The upward movement in capital expenditures for equipment, as well as for the related industrial plant, has been concentrated in industries that are being expanded under the long-range programs of defense mobilization, notably in manufacturing and public utilities. Within manufacturing, impressive gains were made in the metals group as well as in petroleum, chemicals, and rubber. Nonfarm inventories decline moderately In the predominant nonfarm sector net inventory accumulation turned into moderate liquidation in the first quarter of the year, despite a further small increase in the stocks of manufacturers in the metals and machinery industries supporting defense and capital goods demand. The extraordinary surge of buying for inventory account that has been one of the most dynamic factors in the economy since the last quarter of 1950 thus appears to have run its course. The general outline of the inventory readjustment pattern of the past several quarters is now more clearly discernible. In the main, this readjustment represented a reaction to the excessive stock build-up that had occurred as a result of two main factors: anticipations of rising cost prices and of commodity shortages which, on the whole, did not materialize; and over-optimism with respect to consumer demand, generated among other causes by the two post-Korean buying splurges and the rising level of income. However, two other elements doubtless had a role: the Government program of controls including the inventory control program of the National Production Authority; and the tightening of credit manifested both in higher carrying charges on inventory investment and in qualitative controls. The initial and sharpest break in the general wave of inventory accumulation occurred in retail trade, where the rate of accumulation started to drop markedly in the second quarter of last year and, continuing to move sharply downward, turned into substantial liquidation in the third quarter. Although the decline in retail stocks continued in the last quarter of 1951 and in the opening quarter of this year, the rate of decline has steadily diminished. The liquidation eliminated the substantial additions to stocks that had been made in the first half of 1951. Wholesale trade inventories, in contrast, showed only slight liquidation in the second half of 1951 and in the first quarter of this year, following only minor accumulations in the first half of last year. Military and civilian goods patterns In manufacturing, there was a noteworthy difference in the inventory readjustment patterns of industries heavily engaged in defense work as distinguished from those primarily engaged in the production of civilian goods. In the case of the latter, the rate of inventory accumulation started to drop sharply in the third quarter of last year (concurrently with the heavy liquidation of retail stocks) and, con- 6 SUEVEY OF CUERENT BUSINESS tinuing downward, passed over into net inventory liquidation of moderate proportions in the following quarter. While this decline continued into the first quarter of this year, it appears to be tapering off. On balance the aggregate liquidation of these stocks has been far less than that experienced at the retail level, so that most of the earlier accumulation is still retained. The rate of inventory accumulation in the defense-supporting industries did not start to decline until the fourth quarter of last year. The drop in that quarter, however, was quite substantial and was followed by a decline of similar proportion in the first three months of this year. With accumulation taking place throughout the past year and a half, defense-industry inventories have reached a high plane. The tapering off in defense inventory accumulation may be due in part to the recent (stretch-out) revisions in the military production schedules. It also reflects the operation of the Controlled Materials Plan, which has undertaken to prevent excessive stocking of key materials. But in large measure it is attributable simply to the fact that inventories in many lines have about reached the levels required to support the defense production schedules. Decline in export surplus Net foreign investment, which measures the excess of exports over imports (other than those financed by -unilateral transfers) dropped in the first quarter, by about $% billion at annual rates. The decline from the unusually high fourthquarter export surplus appears to have stemmed almost entirely from the increase in United States imports from abroad, exports continuing to maintain the high level of the preceding quarter. The import advance marks a reversal of the decline experienced in the second half of 1951. To a considerable degree, the latter decline had reflected the reduced rate of buying by businesses seeking to readjust their greatly expanded inventory positions. This was part of the general pattern of inventory readjustment discussed above. As these stocks have been reduced the rate of United States buying from abroad has been stepped up to levels more nearly in line with current needs. Consumer purchases edge upward Personal consumption expenditures were at an annual rate of $209% billion in the opening quarter of the year comared to $206% billion in the prior quarter. Most of the $3 illion change represented an increase in physical volume as average consumer prices showed little change from the fourth to the first quarter. This real increase appears to have exceeded that of the preceding two quarters combined. E Consumer durables stabilizing Consumer purchases of durables were at an annual rate of $25 billion in the first quarter, virtually unchanged from the previous three-months period. This stability followed a decline during previous quarters which in part was a reaction to earlier anticipatory buying. Over the course of the past year, the quarterly movements of the automotive group and of other durables have displayed markedly different patterns. The latter—furniture, household equipment, and other non-automotive durable goods— have been firm at an annual rate of about $15% billion since the third quarter of 1951, following a drop to $15 billion from the $19 billion rate in the high first quarter of that year. By contrast, automotive expenditures declined throughout 1951 to an annual rate of $9% billion in the final quarter, which was maintained in the opening quarter of May 1952 this year. This compares with $12% billion in the first quarter of last year and with the high point of $14% billion in the third quarter of 1950. Consumer purchases of nondurables advanced by $2 billion to an annual rate of $115% billion in the first quarter, continuing to show the same gradual and persistent rise that has characterized the movement of this series since the second quarter of last year. Increases have been widely distributed among the separate lines of expenditures comprising the group. Consumer expenditures for services also continued to increase at about the rate which prevailed last year. The advance of $1 billion to an annual rate of $69 billion in th^ opening quarter of this year was primarily attributable to gradually rising rents. The Flow of Income Personal income in the first quarter of 1952, while rising to a new high annual rate of $258 billion, showed a smaller increase than in any quarter of 1951. The fortuitous elements contributing to this retardation have been enumerated earlier in this review. The increase of $1 billion in the total was less than half of that registered by wage and salary receipts alone. Declines in the farm component of proprietors' income and in dividend payments were partial offsets. The other components of personal income—rents, interest, and transfer payments—showed little change. Private-industry payrolls advance The first-quarter 1952 increase in total wage and salary receipts, which brought the aggregate to an annual rate of $173 billion, was somewhat dampened by the fact that fourthquarter 1951 receipts had included retroactive payments to Federal employees covering services rendered in the third. When allowance is made for this factor by measuring wages and salaries on an accrual basis, as in the national income, the first-quarter advance is seen to have amounted to $3% billion at annual rate, as compared with $1% billion in the preceding quarter. Most of the advance—$3 billion—was in private-industry payrolls. This is in marked contrast to the past year, when the Armed Forces were expanding and Government payrolls accounted for over two-fifths of the average quarterly rise in total wages and salaries. The first-quarter increase in private wages and salaries exceeded substantially the average quarterly increase in the latter half of 1951, and was about three-fourths that in the previous two quarters. Higher average hourly earnings were the primary factor in the increase of private-industry payrolls in the first quarter. Employment showed only small changes in most industries, while average hours worked per week remained virtually the same as in the fourth quarter 1951. Industrially, the moderate increase in private payroll wa^1 widely spread. In manufacturing, wages and salaries of nondurable-goods industries showed a somewhat larger increase than that of the durables group. A number of industries in the nondurable group, notably apparel, leather, and textiles, which had been drifting downward in the latter half of last year, showed increasing firmness. In the durables group, the building materials industries— lumber and stone, clay, and glass—were off, paralleling the declining rate of new construction last year. However, these industries will be helped by the renewed upsurge of building activity described above. The declines in the building ma(Continued on p. 24} by Lawrence Grose ^- Labor Income In the Postwar Period COMPENSATION of employees in the first quarter of §1952 was at an annual rate of $186 billion, $3% billion higher than in the previous quarter. This rise continued the unbroken advance begun in early 1950 and brought compensation of employees 25 percent above the total just prior to the Korean outbreak. 7 The major growth in employees compensation after mid1950 took place in the first year following the aggression, as the economy quickly took up the remaining slack in the labor force and production expanded sharply under the direct and indirect influences of the national defense program. Since the second quarter of 1951, when the economy entered a period of relative stability in over-all production and prices, the increase has slowed appreciably. Thus, by the second quarter of 1951 employees' income had risen by $29 billion, at annual rates, from the total of a year earlier, but the rise since then has been $8 billion. Of this latter amount, $3.5 billion is accounted for by the further advance of government (including military) payrolls. Compensation of employees is the largest component of the national income, forming about two-thirds of the total in the postwar years. It measures the income accruing to persons in an employee status as wages and salaries and supplementary labor income for their participation in current production. Viewed from the employers' standpoint, it is the direct cost of employing labor. demand from consumers, business, and government. Payrolls in these industries, which comprise manufacturing, construction, mining, and agriculture, have risen 26 percent since the second quarter of 1950, compared with the 15 percent rfse in all other private industries combined. As in the case of total employees7 compensation, virtually all of the payroll rise in the commodity producing sector had occurred by the second quarter of 1951, with the growth since then of only minor proportions. PAYROLL INCREASES since mid-1950 have been largest relatively in Government and in commodity-producing industries PERCENT INCREASE 60 — 50 -* 40 — Post-Korean Developments The impact of the mobilization program and other related factors in the period subsequent to the Korean invasion has had a markedly uneven effect on the industrial composition of wages and salaries. The largest expansions have occurred in government and in the commodity producing industries. 20 — 10 — Defense needs expand government payrolls Government payrolls have advanced steadily since mid1950 as a result of the continuous expansion of the Armed Forces and of civilian personnel in defense activities. From the second quarter of 1950 to the first quarter of this year, government payrolls rose from $21 billion to $32 billion, at annual rates, or about 50 percent. More than one-half of the $11 billion increase occurred in military payrolls, and reflected primarily the sizable build-up in strength. Federal civilian activities accounted for about three-fifths of the remaining payroll expansion, under the impetus of both augmented personnel and a pay raise effective in the latter half of 1951. Increased State and local government payrolls stemmed largely from upward wage-rate adjustments. Commodity producing payrolls up sharply The private industry payroll rise since the onset of the Korean conflict—$24% billion at an annual rate—has been largely concentrated in the commodity producing area, which initially was the chief beneficiary of the heightened NOTE.—MR. GROSE IS A MEMBER OF THE NATIONAL INCOME DIVISION, OFFICE OF BUSINESS ECONOMICS. In this sector, the post-Korean increase in wages and salaries through the second quarter of 1951 was especially pronounced in the durable-goods manufacturing and contract construction industries. In these industries, employment, wage rates, and hours worked all showed significant increases. Since mid-1951, declines have occurred in total wage payments in some consumer durable-goods industries, but in contract construction and those manufacturing industries closely related to defense production wages in the first quarter of 1952 exceeded second quarter 1951 totals. For nondurable-goods manufacturing as a whole, the wage advance from the second quarter of 1950 to the first quarter of 1952 amounted to 17 percent—only half as large as in durable-goods manufacturing and in construction. In most types of nondurable-goods manufactures, wages in the first quarter of this year were below the high points reached early in 1951. SURVEY OF CURRENT BUSINESS 8 Other private industry changes Wagtes and salaries in the other sectors of the private economy have advanced since the middle of 1950 in much the same pattern as in the government and commodity producing areas, but the increases have been markedly smaller. In the distributive sector—comprising industries within trade, transportation, and communications and public utilities— they have clustered about 15 percent, while in the service and finance group the increase averaged 12 percent. COMPENSATION OF EMPLOYEES rose from $117 billion in 1946 to $178 billion in 1951 as wages and salaries increased 52 percent.... lesser, though considerable, element in the payroll growth, whereas the slightly lengthened workweek was of minor significance. However, with both employment and hours receding slightly from their mid-1951 levels, the total payroll advance since that time has stemmed from a further, though slackened, upward movement of average hourly earnings. Summary Postwar Changes It is useful to view these recent changes in employee compensation against the background of developments over the post-World War II period. Along with other national income and product series for the years 1929-50 and descriptions of concepts and sources and methods, estimates of the compensation of employees have been presented in the volume National Income—1951 Edition, a supplement to the SURVEY OF CURRENT BUSINESS. Much of the discussion which follows is based on the detailed industry data on employee compensation published in that report. Compensation of employees covers the earnings of all persons in an employee status, and is therefore heterogeneous in character. It encompasses a wide range of incomes, with the earnings of corporate officials and the wages of domestic servants both represented in its totals. The data on employee compensation available from national income statistics are presently limited to an industrial distribution, although for some purposes alternative distributions, such as by occupation of recipient or by size of income, would be desirable. Employees' share of national income stable due to average annual earnings rising 37 percent.... 60 and the number of full-time equivalent employees expanding by 11 percent.... 50 40 while supplementary wage benefits kept pace with the rise in payrolls Despite its sizable increase—from $117 billion to $178 billion—compensation of employees represented a virtually stable proportion of national income from 1946 to 1951. Except for 1948, when it dipped lower, in every postwar year it amounted to almost 65 percent of the national income total. This percentage, moreover, corresponds closely to the average proportion of national income constituted by employee income in years just preceding the war. Similar generalizations are applicable to the private sector of the economy, where compensation of employees accounted for three-fifths of private national income both in the postwar and immediate prewar years. Wages and salaries averaged about 95 percent of employee compensation in the years 1946-51, with the remainder consisting chiefly of employer contributions under government social insurance and private pension plans. As defined for national income purposes, wages and salaries include not only cash payments commonly classified in this category, but also tips, bonuses, commissions, and the value of income in kind furnished employees. Wages and Salaries in Private Industry 1946 1947 1948 1949 1950 1951 U. S. DEPARTMENT OF COMMERCE. OFFICE OF BUSINESS ECONOMICS Higher hourly earnings spur rise Initially, the large gains in private industry payrolls stemmed from the combined effects of increased employment, higher hourly earnings, and a longer average workweek. Hourly earnings were the most important factor, as they had been in the earlier postwar period. Employment was a May 1952 After the initial dislocations following the war's end, private-industry wages and salaries moved up rapidly. From an annual rate of $82 billion in the first quarter of 1946, they rose quarter by quarter to a rate of $118 billion at the end of 1948, as employment and production expanded to meet the heavy demand from consumer, business, and foreign sources. In the mild recession of 1949, private payrolls were reduced slightly, but with the business upturn in early 1950 they recovered and in the second quarter of that year exceeded the high year-end 1948 totals. Following the invasion in Korea, payrolls and employment, under the stimulus of accelerated demand from every sector of the economy, spurted sharply into the first half of 1951, reaching a rate of $141 billion in the second quarter. Since then, the payroll STJKVEY OF CUERENT BUSINESS May 1952 total for private industry has been quite stable, as the expansionary effects of the rearmament program have been largely offset by curtailed consumer and business purchasing. For private industry as a whole, wages and salaries in 1951 amounted to $140 billion, 55 percent more than the $91 billion aggregate of 1946. Hourly earning main factor As table 1 indicates, advances in hourly earnings have been the most important factor in the postwar growth of private industry payrolls, with the increase in man-hours stemming from higher employment partially offset by reduced hours of work. The steady rise in hourly earnings—which encompasses the effects of wage-rate changes, shifts in the industrial composition of employment, upgrading, and other related factors—amounted to 45 percent from 1946 to 1951, and accounted by far for the major part of the total payroll change. Among the factors contributing to the expansion of hourly earnings in the postwar period have been a relatively tight labor supply and employee pressure to maintain real earnings in a period of rising prices. Except for 1949, the economy has absorbed the growth of the labor force, and the number of unemployed—averaging 4 percent of the civilian labor force, close to the minimum in a fluid economy—has represented no great problem on a national scale. Patterns set in organized industries summer of 1946. In most cases, the second round increases— negotiated between mid-1946 and mid-1947—were of lesser proportions than the first. A period of relative wage-rate stability then ensued, as the price rise slowed at the close of 1947 and came to a halt in early 1948. However, this spell was short lived. As prices renewed their ascent, negotiations took place which by mid-1948 led to the wage increases of round three for a large number of industries. These increases, in general, were smaller than the two preceding. The mild recession of 1949, with the accompanying decline in commodity prices, took the pressure off rising money wages, and in the new unionmanagement contracts negotiated the main issues centered on the supplementary benefits of insurance and pensions. Table 1.—Components of Changes from 1946 to 1951 in Private Industry Wages and Salaries l [Billions of dollars] 1946-47 1947-48 1948-49 1949-50 1950-51 1946-51 Change in private-industry wages and salaries. 14.2 10.9 Amount of change attributable to: Hourly earnings and related factors- 10.8 10.3 4.9 2.3 -1.5 —1.7 —2.4 Employment ._ Hours worked 1 Wage rate patterns in the postwar period have been dominated by a series of settlements (the so-called "rounds") which were negotiated in the large mass-production industries and gradually extended throughout the economy. The first of these settlements occurred early in 1946 and was occasioned by the effort to buttress earnings against the sharp curtailment in hours of work, particularly in manufacturing, after the end of the war. The pressure for further increases resulted from the sharp price advance following the lifting of price controls in the 10.5 16.8 49.8 4.7 6.9 9.6 42.3 -4.8 4.2 6.2 12.8 —.6 .9 —5 3 -2.6 Detail will not necessarily add to total because of rounding. Source: U. S. Department of Commerce, Office of Business Economics As business conditions improved in early 1950 some wage contracts were negotiated, but it remained for the impact of Korea, with the spurt in demand and prices and the anticipation of wage controls, to hasten the spread of wage increases. Particularly noteworthy in this later period was the increasing acceptance, both by labor and management, of the practice of tieing wage rates to the consumers' price index. With the enactment of wage-price controls in early 1951, this general principle was recognized by the Wage Stabilization Table 2.—Wages and Salaries, Number of Full-Time Equivalent Employees, and Average Annual Earnings per Full-Time Employee, by Industry Divisions, 1946—51 * Number of full-time equivalent employees (thousands) Wages and salaries (millions of dollars) 1946 All industries, total __ Agriculture, forestry, and fisheries Mining C ontr act construction M anuf acturing 1947 1948 1949 1950 1946 1947 1948 1949 1950 1951 1946 1947 1948 1949 1950 46, 962 46,977 47, 836 46, 563 48, 236 52, 086 2,368 2,598 2,809 2,866 3,024 3,253 3,345 3,513 9, 637 57, 956 2,288 871 1,739 14, 493 2,366 938 2,060 15, 215 2,440 986 2,274 15, 285 2,390 915 2.129 14, 172 2,277 919 2,342 14, 951 2,199 924 2.606 16, 094 1,223 2,719 2,537 2,517 1,311 3,113 2,828 2,793 1,375 3,387 3,119 3,039 1,349 3,203 3,235 3,093 1,365 3,436 3, 356 3,303 1, 521 3,802 3,698 3,601 1951 111.227 122, 059 134, 357 133, 432 145, 844 169, 455 2,798 2,368 4,412 36, 476 3,102 2,920 5,825 42, 500 Durable goods industries. Nondurable goods industries 18, 935 17, 541 Wholesale and retail trade Finance, insurance, and real estate Transportation __ _ _ Communications and public utilities Services 19, 529 Average annual earnings per full-time employee (dollars) 1951 3,354 3,340 7,093 46, 455 3,223 2, 931 6,887 43, 828 3, 109 3, 158 7,859 49, 386 22,607 24, 757 22, 665 26, 277 32, 733 7,206 7,797 7,779 6,973 7,524 8,498 2,628 2,899 3,183 3,250 3,492 3,852 19, 893 21, 698 21, 163 23, 109 25, 223 7,287 7,418 7,506 7,199 7,427 7,596 2,407 2,682 2,891 2,940 3,111 3, 321 22, 818 25, 318 25, 618 27, 442 30, 030 8,127 8,574 8,832 8,725 8,904 9,162 2,403 2,661 2,867 2,936 3,082 3,278 1,689 2,649 1,770 2, 759 2,598 2,948 2,764 3,147 2, 958 3,442 3,083 3,557 3,279 3,684 3,420 3,967 2,792 2,002 3,002 2,111 3,151 2,168 3,319 2, 214 3,578 2,327 3,925 8, 478 4,292 9,045 4,759 9,664 5,003 9,285 5,539 9,760 6, 054 10, 946 1, 511 2,876 1,553 2,874 1,609 2,808 1,623 2,610 2,824 9, 767 3,286 11,015 3,809 11, 867 4,036 12, 236 4.212 13. 128 4,673 14, 196 1,100 5, 223 1,177 5,503 1.269 5.621 1.281 5,645 1,269 5,930 1, 306 6,101 2. 567 1,870 Government 2and government enterprises 20, 650 17, 256 18, 698 20, 385 22, 251 29, 105 8,734 6,717 6,712 7,073 7,306 9,165 2, 364 2, 569 2,786 2,882 3,046 3,176 Civilian Federal . . .. _ State and local 12, 671 6,439 6,232 13, 171 5,735 7,436 14, 713 6,026 8,687 16. 122 6, 531 9,591 17, 133 6,888 10, 245 20, 030 8,847 11, 183 5,295 2,358 2,937 5,113 1,966 3,147 5,239 1,921 3,318 5,464 1,994 3,470 5,597 1,993 3,604 5, 968 2, 348 3, 620 2.393 2, 731 2, 122 2,576 2,917 2,363 2,808 3,137 2,618 2,951 3,275 2,764 3,061 3,456 2,843 3,356 3,768 3,089 7,962 4,068 3,970 4,248 5,101 9, 056 3,434 1,599 1,468 1,604 1,704 3,192 2,319 2,544 2,704 2,648 2,994 2,837 90,577 j 104, 803 1 15, 659 113,047 123, 593 140, 350 38, 228 40, 260 41, 124 39, 490 40, 930 42, 921 2,369 2, 603 2,812 2,863 3,020 3,270 Military Addendum: All private industries * Individual industry detail for years 1929-50 is presented in Office of Business Economics report National Income—1951 Edition, a supplement to the SURVEY OF CURRENT BUSINESS. 2 Total includes very small amounts for Rest of World industry, which covers United States 998893°—52 2 residents employed in the United States by foreign governments and international organizations. Source: U. S. Department of Commerce, Office of Business Economics. SUEVEY OF CUEEENT BUSINESS 10 Board, and wage rates in many industries drifted upward in 1951 to meet the increased cost of living. Workweek gradually declines The workweek in private industry, which averaged 43 hours for all workers in 1946, gradually drifted lower in the postwar years. This decline, which was halted in 1951, brought the average workweek down to 41 hours last year— 4% percent below 1946 and about the same as in 1940. Except for railroads and coal mining, where the workweek has declined since 1946 by 11 percent and 15 percent, respectively, the hours reductions that have occurred have been moderate. In durable goods manufacturing, hours in 1951 averaged slightly higher than in 1946, as they had during most of the earlier postwar period. Changes in average annual earnings The average annual earnings data presented in table 2 summarize the combined effects of changes noted above in the length of the workweek and in average hourly earnings. These data, it may be noted, refer to the earnings of all fulltime employees—the average wage-and-salary income per man year of full-time work—and are a useful measure for comparisons of inter-industry earnings levels and changes over time. ANNUAL EARNINGS workers increased more than 35 percent from 1946 to 1951 50- 25-35 35-45 45-55 PERCENTAGE INCREASE 1946 TO 1951, BY INDUSTRIES. IN EMPLOYEES' AVERAGE ANNUAL EARNINGS U. 5. DEPARTMENT OF COMMERCE. OFFICE OF BUSINESS ECONOMICS 52-67 Increases in employees' average earnings among the major industry groups from 1946 to 1951 were far from uniform, varying from 24 percent in agriculture, forestry, and fisheries to almost twice that in contract construction. The largest advances occurred in contract construction, durable goods manufacturing, and mining, while those in the distributive sector of the economy and in nondurable goods manufacturing were about average. The increases shown by the service, finance, and agricultural industry divisions, ranging from 24 percent to 32 percent, lagged considerably behind the 38 percent rise for the private industry sector as a whole. Among the 64 individual private industries for which separate estimates are prepared, the rise in average annual earnings per full-time employee from 1946 to 1951 varied from 3 percent in the motion picture industry to 55 percent in automobile manufacturing. However, in industries employing one half of all private wage and salary workers, the increases fell between 35 percent and 45 percent. (See the accompanying chart.) In industries accounting for threefourths of total private employment, the range was from 30 percent to 50 percent. Changes in hourly earnings Because the effects of changes in hours are reflected in the average annual earnings data, industry differentials in hourly earnings changes are obscured. For most industries this is not important, since the change in the length of the workweek was small. However, the substantial decline in hours worked in coal mining and in the railroads accounts for the fact that in the transportation and mining divisions as a whole, employees' average annual earnings experience was less favorable than that in average hourly earnings. Hourly earnings gains in these organized groups were the sharpest, while gains in manufacturing and contract construction approximated the 45 percent over-all private industry rise. The remaining industry divisions, generally those in which there is a lesser degree of unionization, showed considerably smaller advances. Employment expands one-eighth in industries employing seven-tenths of all private 0-25 May 1952 A lesser factor than hourly earnings in the growth of private industry payrolls—responsible for only about one-third as much of the increase since 1946—has been the rise in employment. From 1946 to 1951 average full-time equivalent employment in all private industries increased from 38.2 million to 42.9 million, or about one-eighth. Full-time equivalent employment measures man-years of full-time employment of wage and salary earners and its equivalent in work performed by part-time workers. Full-time employment is defined in terms of the number of hours which is customary at a particular time and place. Unlike the advance in hourly earnings, the postwar expansion in employment was not accomplished in steady fashion. As table 2 indicates, it reflected sizable increases in the immediate postwar years, when virtually full employment was attained, a decline during 1949, and further advances after the Korean outbreak. The termination of World War II resulted in an immediate and sharp curtailment of employment in the durable-goods manufacturing industries. The transitional employment problem which this and the rapid military demobilization created was solved in part by the voluntary withdrawal of a large part of the abnormally high wartime labor force. The more positive solution came, however, from prompt employment opportunities in contract construction, trade, and nondurable goods manufacturing—industries which had been restricted in wartime but which expanded swiftly under the buoyancy of postwar demand. By the start of 1947, almost all available manpower was already employed, and further growth was limited by the slow increase in the labor force. This expansionary phase of employment persisted through the latter half of 1948. With the business downturn in 1949, private employment averaged 4 percent less than in the previous year, with about half of the drop occurring in the durable-goods manufacturing industries, which were particularly affected by the changing business policies in respect to inventories. This decline was made up in the latter half of 1950. From July to December 1950, private employment rose by 1,250,000, one of the SURVEY OF CUERENT BUSINESS Mav 1952 largest increases on record for a six-month period, and then advanced further in the first half of 1951. In the latter half of the year, private employment stabilized at a level about 5 percent above that of 1950. Table 4.—Percent Distribution of Private Industry Wages and Salaries, by Industry Divisions, 1929, 1940, 1946-51 1929 Private industries, total Employment pattern differs from prewar The expansion in employment over the last decade has been accompanied by significant shifts in the industrial composition of workers. Compared with the year 1940, larger proportions of private postwar workers have been engaged in manufacturing, contract construction, trade, communications, and public utilities, while proportionately fewer workers have been employed in agriculture, mining, finance, and the service industries. (See table 3.) Some of these changes are in keeping with longer term trends—such as the declines in agriculture and mining and the increases in manufacturing and trade. It is significant that, as compared to prewar, the postwar distribution of private employment is somewhat more concentrated in the higher paying industries. In 1946, the prewar distribution of employment would have yielded a payroll about 3% percent lower than that which actually obtained. Private employment continued to move in the direction of higher paying industries in the postwar years, although this factor has been relatively unimportant in the overall payroll growth. From 1946 to 1951 the empk^ment shift was responsible for about 1% percent of the $50 billion payroll increase in private industry as a whole. Table 3.—Percent Distribution of Private Industry Full-Time Equivalent Employment, by Industry Division, 1929, 1940, 1946-51 ! 1929 ! 1940 ! 1946 ! 1947 | 1948 Private industries, total . __ Agriculture, forestry, and fisheries Mining Contract construction Manufacturing 1949 I 1950 ! 1951 100. 00 100. 00 100. 00 100. 00 100. 00 100. 00 100. 00 100. 00 9.69 3.09 4.62 32.49 Durable goods industries _ _ _ _ -_ 15.43 Nondurable goods in17.06 dustries Wholesale and retail trade. . 18.13 Finance, insurance, and 4.17 real estate 8.95 Transportation _ . _ Communications and pub3.21 lic utilities _ _ ._ 15.65 Services 8.41 2.92 4.05 34.32 5.99 2.28 4.55 37.91 5.88 2.33 5.12 37.79 5.93 2.40 5.53 37.17 6.05 2.32 5.39 35.89 5.56 2.25 5.72 36.53 5.12 2.15 6.07 37.50 15.84 18.85 19.37 18.92 17.66 18.38 19.80 18.48 19.06 18.43 18.25 18.23 18.15 17.70 20.43 21.26 21.30 21.48 22.09 21.75 21.35 4.24 6.53 3.95 7.52 3.86 7.14 3.91 6.83 4.11 6.61 4.13 6.47 4.12 6.43 2.83 16.26 2.88 13.66 2.92 13.67 3.09 13.67 3.24 14.29 3.10 14.49 3.04 14.21 Source: U. S. Department of Commerce, Office of Business Economics. The following discussion of postwar shifts in the industrial distribution of private wages and salaries will be limited to the changes since 1947. By that time most of the wartime control measures had been swept away, production reorganized for civilian demand, and the Nation's resources fully employed. Construction rise largest Among the major industries, the largest relative payroll gain was scored in contract construction, where wages and salaries expanded from $5.8 billion in 1947 to $9.6 billion in 1951. This 65 percent rise increased the proportion of the private industry total originating in contract construction from 5.6 percent to 6.9 percent. (See table 4.) Spurred by the heavy demand for housing and the large business outlays for new plants, the contract construction industry has increased its share of the private-industry payroll total in almost every year since the close of the war. Larger than 11 1940 1946 1947 1948 1949 1950 1951 100 00 100 00 100. 00 100 00 100. 00 100. 00 100. 00 100. 00 Agriculture, forestry, and fisheries Mining Contract construction Manufacturing 3 13 3.35 5.49 35.60 2 69 3.13 4.16 37.89 3 09 2.61 4.87 40.27 2 96 2. 79 5. 56 40.55 2 90 2.89 6.13 40.17 2 85 2. 59 6.09 38.77 2 52 2.56 6.36 39.96 2 38 2.50 6.87 41.29 Durable goods industries Nondurable goods industries 17.90 19.32 20.90 21.57 21.41 20.05 21.26 23.32 17. 70 18.57 19.37 18.98 18.76 18.72 18.70 17.97 Wholesale and retail trade ... 20.56 Finance, insurance, and real estate . _ _ _ 6.18 10.44 Transportation Communications and pub3.36 lic utilities 11.88 Services 21.91 21.56 21.77 21.89 22.66 22.20 21.40 5.74 8.84 4.33 9.36 4.10 8.63 4.11 8.36 4.43 8.21 4.48 7.90 4.31 7.80 3.75 11.90 3.12 10.78 3.14 10.51 3.29 10.26 3.57 10.82 3.41 10. 62 3.33 10.11 Source: U. S. Department of Commerce, Office of Business Economics. average gains in both employment and average earnings have both been responsible for the growth in payrolls since 1947 with the latter factor the more important. Manufacturing payroll gain small The share of private payrolls accounted for by the manufacturing industries has varied considerably in the postwar period. From 1947 to 1950 the proportion of payroll constituted by manufacturing declined, both in the durable and nondurable goods groups. This decline—from 40.6 percent in 1947 to 40.0 percent in 1950—stemmed solely from reduced employment, as the average annual earnings experience of factory employees was better than average. Post-Korean developments, particularly those relating to the rearmament program, resulted in a rise in the proportion of payroll constituted by manufacturing to 41.3 percent in 1951 as both employment and average earnings in the durable goods sector rose more than average. The payroll share of the nondurable goods industries declined from 1950 to 1951 under the adverse effects of lagging consumer spending, and constituted a smaller proportion of the private aggregate than in 1947. Communications and public utilities expand Although the share of total private payrolls accounted for by the communications and public utilities division is somewhat smaller than before the war, it increased moderately over the postwar period, from 3.1 percent in 1947 to 3.3 percent in 1951. This increase centered in the electric and gas utilities industry, and stemmed from slightly larger than average increases in both employment and average annual earnings. Trade share higher in most years Payrolls in retail and wholesale trade constituted a slightly smaller proportion of the private total in 1951 than in 1947. Until 1951, however, the proportion of payroll originating in trade in the postwar years had expanded slightly, as employment increased to handle the larger volume of consumer purchases and annual earnings kept pace with the all-industry movement. Last year, with consumer spending lagging, both employment and employee average earnings in trade increased at a slower pace than for all private industries generally, and payrolls fell back to about the 1947 proportion. Transportation decline related to war The share of private industry payrolls originating in the transportation industry declined steadily in the postwar SURVEY OF CURRENT BUSINESS 12 years, from 8.6 percent in 1947 to 7.8 percent in 1951. This decrease is almost all attributable to below average payroll advances in the railroads and in water transportation. In both cases, actual employment declines have been responsible for the payroll lag, and are traceable to the special circumstances affecting each industry during wartime. Railroad employment in wartime was stimulated not only by the large traffic and passenger requirements, but by the restrictions imposed upon competing forms of operation and by the sharp curtailment of private automobile use. With the reestablishment of more normal relationships as the postwar period lengthened, payrolls originating in the railroads declined from 4.7 percent to 4.1 percent from 1947 to 1951. Water transportation payrolls have gradually diminished to but two-thirds the total constituted in 1946 because of declining deep-sea operations as world trade resumed more customary channels and other nations rebuilt and expanded their merchant fleets. For the transportation industry as a whole, the postwar movement of annual earnings has approximated that of all private industries. Employees' earnings in services lag The payroll experience of the service industry has been generally similar to that of trade. The services constituted an increased proportion of the private payroll total in several postwar years, chiefly because of greater than average employment gains, rbut last year sustained a relative payroll decline as emplo3 ment and employees' earnings rose at a less than average rate. The proportion of private employees in the services was larger in 1951 than in 1947, chiefly in private households (domestic servants) and medical and other health services. However, because this area includes a number of the industries in which the average earnings advance has been smallest the relative payroll growth has been retarded. Shares of agriculture and mining reduced The proportion of payrolls originating in both mining and agriculture has declined since 1947. In each industry the decline is mainly attributable to the unusual circumstance of an absolute decrease in employment, but it reflects also a smaller than average rise in annual earnings. For both industries, the payroll and employment changes are in line with longer term trends. In mining, the entire relative decline has centered in coal mining, where manpower requirements have been reduced by the growing inroads of competitive fuels for both industrial and household uses. Heavily weighted by developments in coal, the postwar increase in average hourly wages in mining was one of the largest of any industrial division, but because of the sharp reduction in hours worked, from 41 in 1947 to 38.5 in 1951, the- rise in average annual earnings in mining was fractionally below the one shown by private industry as a whole. Government Wages and Salaries From 1946 to 1951, government wages and salaries— Federal (including military), State, a,nd local combinedexpanded from $20.6 billion to $29.1 billion. However, this rise was largely a product of post-Korean developments, since in the second quarter of 1950 government wages and salaries were, at an annual rate, very little different from the 1946 total. Table 2 presents a breakdown of total government wages and salaries into broad component parts. Civilian wages May 1952 and salaries, it may be seen, have increased steadily in the postwar period, reflecting the movement of State and local government payrolls. Sharp rise in State and local payrolls The total payroll of State and local governments has shown a steadily rising trend in the postwar period, advancing from $6.2 billion in 1946 to $11.2 billion in 1951. Increases in the school and nonschool segments were of approximately equal magnitude. The large advance in State and local government payrolls is accounted for in part by increased employment necessitated by the large increase in school enrollment and the reinstatement of many public services which had been severely curtailed during the war. From 1946 to 1951, school employment rose 20 percent, and nonschool employment 25 percent. Prior to the war, the average annual earnings of State and local government employees exceeded the average for all employees. However, during the war State and local employee earnings lagged considerably behind the over-all average—rising only three-fifths as much—and by the close of the war had fallen below it. Faced with a tight labor supply and the growing need for increased services, State and local government units raised wages sharply, both to attract and retain personnel. As a result, average annual earnings of all State and local employees expanded by 46 percent from 1946 to 1951—from $2', 122 to $3,089—with the largest relative increases received by teaching staffs. Despite this sizable gain, the average earnings of State and local government employees in 1951 were still below the $8,253 average for all-industry employees. Rearmament raises Federal payrolls Federal Government payrolls (including military) fell below the 1946 total in the years 1947-50 but rose above it in 1951 under the impetus of the mobilization effort following the Korean invasion. The 1951 Federal pa}rroll of $17.9 billion was 25 percent above 1946 and 50 percent above 1950. Federal civilian payrolls declined in the two years following the war with the discharge of large numbers of temporary war service personnel in Government shipyards and arsenals and in the war agencies. The postwar low in Federal civilian employment was reached in 1948, by which time the number of employees had been reduced by 35 percent from the wartime totals. Despite the decline in employment from 1947 to 1948, Federal civilian payrolls rose in the latter year because of the granting of cost-of-living pay increases. A sizable expansion in Federal employment during 1951 resulted from the national defense and economic control programs, and lifted employment to the 1946 level. Average monthly employment increased by 18 percent in 1951 over 1950, and payrolls expanded at an even larger rate—28 percent, from $6.9 billion to $8.8 billion—because of some lengthening of the workweek and a pay increase covering the latter half of the year. Since average employment in 1951 was about the same as in 1946, practically all of the payroll difference may be ascribed to higher average earnings. Federal civilian employees have been given four general salary increases in the postwar period. These adjustments, together with merit increases and some upgrading in the composition of employment, have resulted in an advance in average annual earnings from $2,731 in 1946 to $3,768 in 1951. This increase of 38 percent was the same as that experienced by private industry employees in the aggregate. Despite this postwar showing, the average annual earnings of Federal civilian employees have risen by far less than those of private industry workers since 1940. Miiy 1952 SURVEY OF CURRENT BUSINESS Like other Federal employment, military strength continued to decline after the war until 1948, and then rose moderately through 1950. The large expansion in 1951 almost doubled the size of the armed forces. As in the case of civilian employment, military strength last year averaged almost as high as in 1946. Because of two rate advances in the postwar period, military payrolls of $9.1 billion in 1951 exceeded the 1946 total of $8.0 billion by almost 15 percent. The military segment was slightly more than one-half of all Federal Government payrolls last year. Earnings increase exceeds price rise The 38-percent rise in average annual earnings of all fulltime civilian employees—in government and in private industry—from 1946 to 1951 was somewhat in excess of the 33 percent rise in the consumers' price index over the same interval. In view of the 4-percent reduction in hours of work in this period, this would indicate a rise of about 8 percent in the purchasing power of the average civilian worker's hourly earnings. However, in many industries, employing one-fifth of all civilian wage and salary workers, the rise in employees' average annual earnings since 1946 has been less than 33 percent. In these industries workers' real wages, 011 the average, have suffered. Supplements to Wages and Salaries Supplements to wages and salaries in 1951, totaling $8.7 billion, were half again as large as in 1946, with all of this growth occurring since 1948. Supplements consist of the monetary compensation of employees not commonly regarded as wages and salaries. Its components, shown in table 5 for the years 1946-1951, consist of employer contributions for social insurance (including G overrunent life insurance for members of the Armed Forces) and to private pension and welfare funds, compensation for injuries, directors' fees, pay of military reservists, and a few other minor items of labor income. Strong growth in private supplements Unlike wages and salaries, which turned down in 1949, private industry supplements have shown an unbroken rise in the postwar period, from $3.9 billion in 1946 to $7.4 billion in 1951. As a result, they increased from 4.3 percent to 5.3 percent of private industry payroll. Essentially, two components were responsible for the rising proportion of supplementary benefits: contributions for old age and survivors insurance and employer contributions to private pension and welfare plans. State unemployment insurance contributions rose at about the same rate as private payrolls generally, and the change in the railroads' contributions for retirement and unemployment insurance matched that industry's payroll growth. After having been postponed for some time by congressional action, the contribution of employers (and employees) under the old age and survivors insurance program was raised from 1 to IK percent of taxable wages, effective January 1, 1950. This factor, together with the large rise in covered payrolls and the amendments to the Social Security Act which last year expanded employee coverage and raised the taxable wage base from $3,000 to $3,600, served to increase employer contributions from $0.7 billion in 1946 to $1.7 billion in 1951. Private pension and welfare plans have gained prominence in the postwar period as they have come to be the subject of union-management bargaining in wage contract negotiations. Contributions in this category relate to the following programs: pensions, health and welfare programs, and group insurance. 13 Private pension plans burgeoned during wartime when the wage stabilization program limited the wage increases employers could grant but permitted them to make reasonable contributions to employee insurance and pension programs. As a result, employer contributions to private pension and welfare plans, which had amounted to $200 million in 1941, spurted to $900 million in 1945. Postwar trends reflect union activity Contributions to these plans continued to increase in the postwar period both as a result of the uptrend in payrolls— Table 5.—Supplements to Wages and Salaries, 1946-51 (Millions of dollars) 1946 1947 1948 1949 1950 1951 Percent change, 1946-51 5 871 5 929 5 809 6,455 7 489 8 728 +49 Private industries, total 3, 857 Employer contributions for: Private pensions and welfare funds. 1,241 Old age and survivors insurance687 State unemployment and cash sickness insurance. 1,077 Railroad retirement and unemployment insurance 302 Other supplements 1. 550 4,639 4,883 5,021 6,289 7,365 -f-91 1,585 1,864 1,961 2,417 2,733 +120 780 839 816 1, 351 1, 730 +152 1, 241 1, 193 1,235 1,477 1,786 +66 414 619 308 679 300 709 306 738 355 761 +18 +38 Government, total 2,014 Employer contributions for: Government life insur- 1,413 ance _ . Federal civilian employ241 ees retirement- _. . __ State and local employ250 ees retirement 110 Other supplements 2 _ . 1,290 926 1,434 1,200 1,363 -32 599 98 459 80 143 -90 241 244 273 313 320 +33 290 160 360 224 420 282 490 317 540 360 +116 +227 All industries, total 1 Consist of compensation for injuries and directors' fees. 2 Consist of pay of military reservists, compensation for injuries, compensation of prison inmates, jury and witness fees, Government payments to enemy prisoners of war, marriage fees to justices of the peace, and (in 1951) contributions for old age and survivors insurance. Source: U. S. Department of Commerce, Office of Business Economics. which in some cases determine the amount of contributions— and increasing labor pressure for new and expanded coverage. Particularly noteworthy in respect to union-management contracts was the establishment of a jointly managed health and welfare fund in the coal mining industry in 1946 and of employer financed retirement plans (generally tieing benefits to the social security program) in many important manufacturing areas beginning with the latter half of 1949. In total, employer contributions under private pension and health and welfare plans expanded from $1.2 billion in 1946 to an estimated $2.7 billion in 1951, and during the postwar period were almost twice as large as employer contributions under the old age and survivors insurance system. However, current costs of private pension plans are inflated as a measure of the recurrent annual cost of the plans now in operation because of large contributions to cover the past service liability of older workers. Industrial differentials in supplements Table 6 presents data for private industries on the relation between supplementary wage benefits and wages and salaries in each of the postwar years. The variations among the industry divisions are quite considerable, with supplements as a percent of total payroll ranging from almost twice the 1951 private industry average of 5% percent in communications and public utilities to less (Continued on p. $4) by E. S.Kerber Foreign Aid in 1951 VjrEOSS foreign aid of the United States Government in 1951 amounted to $5 billion, about one-twelfth above the preceding year. The change from 1950 was more marked in the character of aid than in total amount. Military aid in 1951 reached $1.6 billion—a billion dollars more than in 1950. This increase more than compensated for the 16-percent decline in economic assistance from $4.1 billion to $3.4 billion. Several economic-aid programs Were curtailed; the the total amount provided by those which were consolidated into the mutual-security program by the October 1951 legislation declined less than one-tenth. The 1951 aid remained from one-half to one billion dollars less than the annual totals in postwar years through 1949. Gross aid for the postwar period through 1951 totals $35.6 billion, exclusive of the Government's investment of $3.4 billion in the International Bank for Reconstruction and Development and the International Monetary Fund. Most aid in grant form Grants continued to predominate as the basis of United States Government foreign aid last year, while credit utilizaNOTE.—MR. KERBER IS A MEMBER OF THE CLEARING OFFICE FOR FOREIGN TRANSACTIONS, OFFICE OF BUSINESS ECONOMICS. tions declined to a 6-year low. Credit repayments in the last quarter of 1951—when repayment of United Kingdom postwar credits began—outweighed credit utilizations in that period, resulting in a net repayment position. Net foreign aid, taking into account receipts by the United States Government of reverse grants and returns of grants, as well as the credit repayments, was $4.6 billion in 1951, bringing the postwar net aid to a total of $32.7 billion. Enactment of the Mutual Security Act consolidated most Government foreign-aid operations into one program. Those operations now included in the mutual-security program represented 86 percent of total aid in 1951, in comparison with 75 percent in the preceding year. As of the last quarter of 1951, the European program for economic and technical assistance still represented the largest individual component— comprising one-half—of gross foreign aid. However, in the previous year such aid, then identified as the Europeanrecovery program, had been the source of almost half a billion dollars more assistance abroad, and had constituted two-thirds of the aid. Foreign Aid Mutual-security programs provided 86 percent of aid in 1951 2.0 { 1.5 5 MILITARY AID ECONOMIC AND TECHNICAL ASSISTANCE 6 a i.o - 1.0 S o - .5 OCT> JANMAR. OEC, 1950 U. S. DEPARTMENT OF COMMERCE. OFFICE OF BUSINESS ECONOM/CS 14 1951 52-60 SUEVEY OF CTJKKENT BUSINESS May 1952 Economic aid to United Kingdom declines The European-recovery program was absorbed into the mutual-security program as a defense supporting constituent, to insure the full effectiveness of North Atlantic Treaty Organization countries' military aid, which comprises over 15 half of currently programed aid. The recovery program from its inception in April 1948 through 1951 provided $11.4 billion in assistance, or 57 percent of gross aid in that period. The countries participating in the European-recovery program as members of the Organization for European Economic Cooperation (OEEC) also obtained aid from other Table 1.—Summary of Foreign Aid (Grants and Credits), by Program: July 1, 1945 Through Dec. 31, 1951 [Millions of dollars] Before EuroTotal pean 3ostwar ecovery period program period Program Gross foreign aid * Grants utilized Less* Credit-agreement offsets to grants Credits utilized Less: Returns Reverse grants and returns on grants Principal collected on credits Equals: Net foreign aid Net grants Net credits ._ - Grants utilized Lend-lease Mutual security: Economic and technical assistance Military aid Total April 1948December 1949 1951 1950 July- OctoberSeptem- December ber anuary- AprilMarch June Total 15,526 20,045 10,379 4,636 1,171 1,253 976 1,237 5,029 1,226 1,373 1,239 1,191 25, 755 1,256 11,072 8,091 1,253 8,689 17, 664 3 2,384 8,878 1 1,503 4,186 2 453 1,037 885 1,126 4,601 1,105 1,277 1,135 1,084 135 1,138 2 117 91 111 428 122 96 104 106 2,855 1,022 1,834 903 476 102 162 104 108 454 98 81 127 148 1,090 1,766 499 523 591 1,243 294 609 157 319 41 60 50 112 37 67 28 79 140 314 39 59 35 46 33 95 34 115 +32,716 +14,505 +18,211 +9,476 +4, 160 +1,070 +1,091 +871 +1, 129 +4,575 +1, 129 +1,292 +1, 111 +1,042 +6,339 f 17, 070 +8, 166 +1, 141 +8, 583 +894 +4, 027 +133 +995 +74 +1,086 +5 +848 +23 +1, 098 +31 +4, 461 +114 +1, 066 +63 +1, 242 +50 +1, 102 +9 +1, 050 -8 8,878 4,186 1,037 1,138 885 1,126 4,601 1,105 1,277 1,135 1,084 25,755 8,091 17, 664 1,945 1, 945 (2) 10, 717 2,046 (2) 10, 717 2,046 5,314 2,841 468 799 12 873 51 560 136 609 270 2,562 1,578 622 325 678 423 596 454 666 377 112 133 322 81 138 71 33 66 7 2 40 12 9 3 114 4 3 2 3 69 4 3 2 29 28 140 39 35 23 10 5, 439 3,443 631 659 243 632 2,412 3,172 130 165 120 146 3,027 271 500 495 123 485 2,198 271 322 427 116 230 506 (3) 166 59 5 141 122 (3) 39 32 2 30 138 (3) 27 12 37 34 8 1 34 1,090 499 591 294 157 41 50 37 Reverse lend-lease__ Return of lend-lease ships Wir-account cash settlements 133 321 120 133 250 117 1 71 3 1 39 3 9 Counterpart funds: Economic and technical assistance Military aid - 505 11 505 11 252 144 4 Civilian supplies TJNRR 4., post-UNRRA , and interim aid Philippine rehabilitation . __ Greek-Turkish aid Chinese stabilization and military aid Other Reverse grants and returns on grants Credits utilized _ Special British loan Export-Import Bank Direct loans Loans through agent banks _.. . - Surplus property (including merchant ships) Credit-agreement offsets to grants Lend-lease (excluding settlement credits) Mutual security (including loans to Spain and India) Other _ _- - 9 (2) (2) W 9 33 (2) 1 1 8 34 13 41 40 1 36 1 27 1 110 6 27 1 33 2 30 3 20 1 111 428 122 96 104 106 44 44 204 222 *Cr 18 79 83 *Cr4 66 81 *Cr 15 8,689 2,384 1,503 453 135 117 91 3,750 2,937 2,804 132 3,750 2,087 1,942 145 849 862 *Cr 13 445 447 *Cr2 200 193 7 60 50 10 59 58 1 37 40 4Cr3 (2) 1,338 1,256 69 1,236 1,253 63 102 3 6 98 1 5 2 2 1 2 (2) (2) (2) 1 2 1,277 446 299 1,277 147 904 49 164 84 56 17 30 25 49 4 28 38 209 13 39 4 25 4 70 4 75 2 1,766 609 319 60 112 67 79 314 59 46 95 115 49 47 2 44 134 130 5 31 30 1 19 18 2 33 32 1 44 51 50 2 58 21 7 49 17 1 1 10 9 1 21 13 5 23 523 1,243 44 854 686 168 196 149 48 44 658 537 120 363 289 74 160 118 41 Surplus property (including merchant ships) Credit-agreement offsets to grants Lend-lease (excluding settlement credits) Other 202 44 34 588 29 10 9 279 173 34 25 308 73 8 11 153 42 4 6 107 i Foreign aid is defined to comprise two categories—grants and credits. Grants are largely outright gifts for which no payment is expected, or which at most involve an obligation on the part of the receiver to extend aid to the United States ror other countries to achieve a common objective. Credits are loans or other agreements w hich give rise to specific obligations to repay, over a period of years, usually with interest. In some instances assistance has been given with the understanding that a decision as to repayment will be made at a later date; such assistance is included in grants. At such time as an agreement is reached for repayment over a period of years, a credit is established. Because such credits cannot, as a rule, be deducted from specific grants recorded in previous periods, they are included in both grants (at the earlier period) and credits (at the time of the agreement), and the amounts of such credit-agreement offsets to grants are deducted from the total grants and credits in arriving at gross foreign aid. All known returns to the U. S. Governement stemming from grants and credits are taken into account in net foreign aid. Gross foreign aid less the returns is net foreign aid, which is shown as net grants and net credits. Foreign aid is measured, for the different mechanics of assistance in use, as follows: (1) at the time of shipment of goods or extension of a service, for procurement made by a U. S. Government agency; (2) at the time of payment when cash aid is disbursed to a foreign government or other foreign entity, including disbursements for procurement made by that government, or entity, or its agents; (3) (3) 11,072 Special British loan Export-Import Bank Direct loans Loans through agent banks Principal collected on credits July- OctoberSeptem- December ber anuary- AprilMarch June Total 35,571 +23, 409 +9, 307 __ During European recovery program period (2) 2 () (2) 28 28 30 30 (2) 1 1 2 () 40 30 10 32 15 17 39 27 12 10 1 12 3 1 64 11 1 5 11 10 2 (2) (22) () 9 21 (2) 16 (2) 12 7 at the time of disbursement to a United States supplier or to a United States bank (for payment to suppliers) on behalf of a foreigner for procurement made on a letter of credit authorized by a Government agency; or (4) at the time of formal agreement, for obligations assumed by a foreign government, including bulk sales of surplus property under credit agreements. The Government's capital investments in the International Bank ($635 million) and International Monetary Fund ($2,750 million) are not included in gross foreign aid although they constitute an additional measure taken by this Government to promote foreign economic recovery. Payments to these international financial institutions do not result in immediate equivalent aid to foreign countries. Use of available dollar funds is largely determined by the managements of the two institutions, subject to certain restraints which can be exercised by the U. S. Government. 2 Less than $500,000. 34 Negative entry of less than $500,000 results from refunds of cash aid. Negative entry results from excess of EIB repurchases from agent banks over agent-bank disbursements. Source: U. S. Department of Commerce, Office of Business Economics. SURVEY OF CURRENT BUSINESS 16 May 1952 Table 2.—Summary of Foreign Aid (Grants and Credits), by Major Country: July 1, 1945 Through Dec. 31,1951 [Millions of dollars] During European recovery program period Before EuroTotal pean postwar recovery period program period Major country Gross foreign aid (grants and credits)l Less* Returns Equals* Net foreign aid OEEC countries and participating dependent areas: Gross foreign aid Less* Returns Equals* Net foreign aid Austria: Gross foreign aid Less* Returns Equals* Net foreign aid Belgium-Luxembourg : Gross foreign aid _ _ _ - » Less* Returns Equals* Net foreign aid British Commonwealth: United Kingdom: Gross foreign aid Less: Returns __ __ _ Equals* Net foreign aid France: Gross foreign aid Less: Returns __ _ .. Equals* Net foreign aid Germany: Gross foreign aid Less: Returns _ _ _ _ _ Equals: Net foreign aid _ Greece: Gross foreign aid Less* Returns Equals: Net foreign aid Italy: Gross foreign aid _ _ Less* Returns Equals: Net foreign aid _ __ _ Netherlands:* Gross foreign aid Less* Returns Equals: Net foreign aid Turkey: Gross foreign aid Less: Returns Equals: Net foreign aid _ _ 1950 1951 April 1948December 1949 Total 35, 571 15,526 20,045 1,022 2,855 1,834 +32,716 +14,505 +18,211 10,379 903 +9, 476 4,636 476 +4, 160 1,171 102 +1,070 1,253 162 +1,091 976 104 +871 1,237 108 +1, 129 5,029 454 +4, 575 1,226 98 +1, 129 1,373 81 +1,292 1,239 127 +1,111 1,191 148 +1, 042 25, 236 1,703 +23, 533 8,022 472 +7, 550 3,545 315 +3,231 912 79 +833 985 70 +916 765 72 +693 883 94 +789 3,586 360 +3, 226 879 80 +799 1,022 58 +964 907 104 +803 778 118 +660 45 2 +43 Total 10, 083 15, 153 557 1,146 +9, 526 +14, 007 January- AprilMarch June July- OctoberSeptem- December ber Total January- AprilMarch June July- OctoberSeptem- December ber 919 45 +873 299 (2) +299 620 45 +575 346 18 +327 113 13 +100 42 4 +38 36 3 +33 17 4 +13 19 2 +17 161 14 +147 26 3 +23 53 5 +48 37 3 +34 778 53 +726 223 5 +219 555 48 +507 309 20 +289 191 15 +175 52 3 +49 49 7 +43 53 3 +50 36 2 +34 55 13 +42 27 4 +23 10 2 +9 16 6 +10 6,949 811 +6, 138 4,179 456 +3, 723 2,770 355 +2,415 1,824 165 +1, 659 710 83 +628 214 20 +194 228 20 +208 135 19 +115 134 23 +110 236 107 +129 94 14 +80 54 16 +37 38 24 +14 50 53 -3 4,576 267 +4, 308 2,119 36 +2, 084 2,456 232 +2, 225 1,466 104 +1, 362 514 51 +463 153 18 +135 140 8 +133 94 16 +79 126 9 +117 476 77 +400 111 26 +85 139 7 +132 117 36 +81 109 8 +101 3, 659 108 +3, 550 1,026 16 +1, 010 2,633 92 +2, 541 1,763 53 +1, 709 484 18 +466 139 4 +134 134 8 +126 100 2 +98 112 4 +108 386 21 +365 127 5 +123 139 6 +133 97 , 7 +90 23 4 +19 1,447 56 +1, 391 583 5 +577 865 51 +814 500 21 +479 154 14 +140 52 3 +49 39 3 +36 30 4 +26 34 4 +29 210 16 +194 37 4 +32 49 4 +45 68 5 +63 56 3 +53 2,436 133 +2, 303 1,099 17 +1,082 1.337 115 +1, 222 747 37 +710 290 36 +254 77 14 +64 100 6 +93 75 11 +65 38 5 +32 300 42 +258 83 15 +69 101 7 +94 82 15 +68 33 6 +28 1,172 141 +1,031 298 14 +284 874 127 +747 448 26 +422 276 53 +223 68 3 +65 110 7 +103 67 8 +49 41 35 +6 150 48 +102 50 3 +47 43 6 +37 29 5 +25 28 35 -7 329 28 +301 29 6 +23 301 22 +278 165 7 +158 73 8 +64 29 2 +26 17 3 +15 16 2 +14 10 1 +9 63 7 +56 11 2 +8 11 1 +10 20 1 +19 22 3 +19 2,971 60 +2, 910 228 1 +227 2,742 59 +2, 683 453 20 +433 740 23 +717 87 7 +80 132 5 +127 187 4 +184 334 8 +326 1,548 16 +1, 533 313 5 +308 424 5 +419 402 3 +399 410 3 +406 1,748 104 +1, 644 1,547 25 +1, 522 201 79 +121 35 42 -7 41 18 +23 7 2 +5 10 11 -2 9 3 +6 16 1 +14 125 20 +105 32 2 +31 28 2 +25 36 1 +35 29 15 +14 762 253 +510 300 72 +227 463 181 +282 163 77 +87 95 57 +38 32 9 +23 19 14 +6 25 25 18 9 +9 205 47 +158 59 10 +48 50 11 +39 46 15 +31 50 11 +39 China— Taiwan (Formosa): Gross foreign aid Less: Returns ,Equals: Net foreign aid 1,850 122 +1, 727 1,444 56 +1,387 406 66 +340 308 55 +254 25 6 +19 9 (2) +9 4 2 +2 4 3 +1 7 1 +7 73 6 +67 14 2 +12 12 2 +10 15 (2) +14 32 1 +31 Japan and Ryukyu Islands: Gross foreign aid Less: Returns Equals* Net foreign aid 2,543 289 +2, 254 1,027 136 +891 1.516 153 +1, 363 956 82 +874 307 69 +238 76 5 +72 111 64 +47 58 1 +57 62 (2) +62 253 3 +252 70 2 +68 119 (2) +119 51 +51 13 (2) +13 561 13 +548 156 405 13 +392 185 7 +177 112 5 +107 28 5 +23 20 10 54 35 +10 +54 16 (2) +16 34 +20 108 (2) +108 23 +156 +23 +34 +35 786 18 +768 243 13 +231 543 6 +537 324 1 +323 202 (2) +201 40 (2) +39 27 (2) +27 34 (2) +34 101 (2) +101 17 4 +13 4 (2) +4 4 4 +1 3 (2) +2 (2) 2,084 352 +1, 732 727 163 +563 1,358 189 +1, 169 386 169 +217 310 7 +303 66 1 +65 77 2 +75 71 1 +70 95 3 +93 662 13 +649 152 (2) +151 114 3 +112 148 7 +141 248 3 +245 Other OEEC countries: « Gross foreign aid Less: Returns Equals: Net foreign aid Other Europe: Gross foreign aid Less* Returns Equals* Net foreign aid _ _. American Republics: 8 Gross foreign aid _ Less' Returns Equals: Net foreign aid Korea: Gross foreign aid Less: Returns Equals* Net foreign aid Philippines: Gross foreign aid Less* Returns Equals: Net foreign aid All other countries: < « Gross foreign aid Less: Returns Equals' Net foreign aid 1 _ - - .. . .. -. . _ _ See footnote 1 to table 1. 28 Less than $500,000. Net (+) of less than $500,000. 4 Gross foreign aid and net foreign aid for Netherlands include $17.2 million European recovery program credits to Netherlands on behalf of Indonesia ($16.2 in April 1948-December (2) (3) 2 2 6 +5 1949; and $1.0 million in January-March 1950). All other aid to Indonesia, including grants under the European recovery program, is included in "All other countries." 5 Includes data for international orgranizations and data not allocable to specific countries. Source: U. S. Department of Commerce, Office of Business Economics. SUEVEY OF CUEEENT BUSINESS May 1952 in this period. All told, they had received $15 Eandrograms illion of the $20 billion in United States Government grants credits during that time. OEEC countries in 1951 re- ceived $3.6 billion in foreign aid, the same amount as in the preceding year. Since military aid represented a much larger proportion of the total foreign aid to these OEEC countries, economic assistance declined by almost one-fourth. The most marked decline was in the United Kingdom. However, economic aid to the United Kingdom rose in the final quarter of 1951 as a result of the special payment of $40 million to reimburse the British for a portion of their gold payments to the European Payments Union (EPU). The United States Government had agreed to reimburse the United Kingdom for any net payments of dollars resulting from the use of pre-EPU accumulations of sterling by other participants in the settlement of their deficits with EPU. Despite this rise, total economic assistance to the United Kingdom was $491 million less in 1951 than in 1950. In the earlier year, $130 million of the European-recovery aid was provided as conditional aid to the United Kingdom to offset its original credit to EPU; $20 million of the assistance in the first quarter of 1951 was also of this type. Direct economic assistance to the United Kingdom not connected with EPU operations thus declined almost three-fourths from 1950 to 1951. Furthermore, the United Kingdom made large payments in servicing its outstanding credit liabilities to the United States, as a result of which its net position for economic aid declined to a net repayment position for the last quarter of 1951. Patterns in Europe shift Both gross and net economic aid to Belgium, Netherlands, France, and Germany also displayed marked declines in 1951. Over half of the Belgian 1951 assistance represented conditional aid to offset the original Belgian credit to EPU. The large decline for G ermany was largely occasioned by the cessation of civilian-supply shipments to that country in 1951. Furthermore, European-recovery aid to Sweden was suspended in mid-1951. Although some aid was charged to Sweden in the last half of 1951, that country refunded $3% million to the United States Government in February 1952. On the other hand, economic assistance to Greece and Austria increased in 1951 to a large extent because of the special assistance (direct grants) provided by the United States Government to these two countries to meet their EPU deficits. Similar special assistance was also provided to Turkey and Iceland. While individual OEEC countries, on balance, experienced an aggregate decline of $870 million in economic aid from 1950 to 1951, payments of capital contribution to EPU increased $153 million to offset partially that decline. At the end of 1951, total United States Government capital contributions to EPU amounted to $238 million of the $350 million originally committed to enable EPU to make settlements with countries entitled to receive <£old and dollars under the intra-European payments arrangement. Large increases in other areas It can be seen, therefore, that last year's increase in gross foreign aid was for the benefit of countries outside of the OEEC group. Most of the 32-percent increase in aid to the rest of the world arose from a sixfold increase in military assistance to the Asia and Pacific and American Eepublics areas. Economic assistance also increased, particularly as a result of the large credits furnished to India, Argentina, and Israel. 998893°—52 3 17 Economic assistance to the Near East and Africa was authorized as an addition to technical assistance in the mutual-security program. As a result of this expanded program, larger amounts of assistance flowed to Israel, Jordan, and to the United Nations for the relief of Palestine refugees in the last quarter of 1951. Significant amounts of aid to Burma, Indochina, Indonesia, and Thailand were provided, and assistance to China—Taiwan tripled in 1951. Economic assistance to the Philippines was a great deal less last year than the year before, when large payments had been made for war-damage claims under the Philippine-rehabilitation program. Elsewhere in the Asia and Pacific area, the additional expenditures by the United States Armed Forces which were using Japan as a basing point for the antiCommunist operations in Korea had considerably eased the necessity for assistance to Japan by the end of 1951. Korea itself, however, received as much aid in 1951 as in 1950. American Republics share military aid The programs of technical assistance in the American Eepublics have been models for extension of similar assistance elsewhere. These programs—now almost entirely incorporated into the mutual-security program—were continued in 19 of the Eepublics last year. The American Eepublics also shared in the multilateral technical-assistance contributions which the United States made to the United Nations and to the Organization of American States for cooperative projects in 1951. No military assistance was given the American Eepublics from appropriated funds last year although such aid was authorized in October as part of the mutual-security program. The mutual-security program also authorized sales of excess military equipment for cash amounts equal to the cost of repair and rehabilitation plus 10 percent of the original cost. The difference between the original cost of such equipment (" standard value") and the amount paid by the foreign government is reported here as a grant. These military grants accounted for a significant part of the 1951 increase in aid to the American Eepublics. Military aid to rise further in 1952 Military aid will become an increasingly larger portion of foreign aid in the coming months. Authorizations for military aid which had yet to be furnished to foreign countries were in excess of $11 billion at the end of December. Military equipment requires a long lead time in production— accentuated because of the United States' own demands on production for Korean operations—and much of the aid represented in the $11 billion had been programed and ordered as long as a year ago. The President's March 6 recommendation for new obligational authority for military aid was less than in the preceding year and emphasized the fact that, as the production pipeline filled, the rising actual deliveries of military aid would level off at the rate of recent annual appropriations. Early in 1952 the economic and technical-assistance grants yet to be provided from funds already appropriated approximated $2 billion, an amount sufficient to maintain the supply pipeline—at the current rate—for less than three months beyond the fiscal year end. Amounts available for credit assistance exceeded $2% billion. The latter amount includes $1 billion added to the Export-Import Bank lending power in 1951 and that portion (at least 10 percent) which the Congress stipulated should be furnished on a credit basis from the appropriations for economic assistance for fiscal year 1952. International Exchange of Services A $3-Billion Two-Way United States Market A HE magnitude of the interchange of services between the United States and foreign countries is not so generally understood and appreciated as is the similar exchange of goods. Nevertheless, this country provided in 1951 a $3 billion market for foreign services of all kinds, and foreign countries in return acquired services from the United States of almost equal value, about $2.8 billion. Both totals reflect large increases over the preceding year, and a record peacetime flow in both directions. Not included is the income received or paid on investments. The exchange of services has increased over the past three decades at a rate exceeding by far the relative gain in the transactions in goods. In the 1920's United States exports of services amounted to only about 10 percent of the export of goods. By the 1930's, the proportion was about 15 percent, and in 1949-51 there was a further increase to more than 18 percent. This growth may be associated with the apparent tendency for the ratio of exports of services to exports of goods to be larger for highly developed countries than for relatively underdeveloped ones. To illustrate, the comparable ratio for the Netherlands is about two-fifths; for the United Kingdom over a third; for France over a fourth; while for a number of the less-industrialized American Republics it averages between 5 and 10 percent. Service imports equal over one-quarter of goods United States imports of services provide an important source of dollar earnings to foreign countries. The value of services imported by the United States during the 1920's amounted to 22 percent of the value of goods imported in the same period. The ratio rose to almost 30 percent during the 1930's, and has been maintained at about the same level on the average since World War II. A major portion of all service transactions (imports and exports combined) between the United States and foreign countries takes place with member countries of the Organization for European Economic Cooperation (OEEC). This area accounted for two-fifths of the services exchanged during 1949-51, as compared with only one-fourth of total United States merchandise trade with these countries. The Latin-American Republics ranked second from the point of view of services with one-fifth of the total. Asia, Africa, and Oceania (except OEEC dependencies in these areas) received or supplied 16 percent of total services, while Canada followed closely with 15 percent. Of the individual types of services which the United States buys from or sells to foreign countries, transportation and travel were by far the most important in the period between the two world wars. Payments for each of these two items reached about $500 million in 1929, the peak interwar year. With receipts, especially from travel, considerably smaller than payments, net payments during the period NOTE—THIS ARTICLE WAS PREPARED IN THE BALANCE OF PAYMENTS DIVISION BY FRANCES P. SASSCER, MAX LECHTER, J. E. SMITH, AND JOHN S. SMITH. 18 1921-39 averaged $227 million annually for travel and $63 million for transportation. Service offsets to goods deficit The cumulative excess of all service imports over exports from 1921 to 1939 reached about $6 billion, and supplied enough dollars to finance almost half the excess of merchanINTERCHANGE OF SERVICES BALANCED in 4-year period, 1947-51 BILLION DOLLARS 1.0 .5 TRAVEL is a source of dollar earnings for foreign countries while ... PAYMENTS 'RECEIPTS T I 1 1 1 I I 0 2.0 TRANSPORTATION now requires large payments to the United States 1.5 1.0 .5 0 i i t nr i i i i i i i i i i i i i i i i I 1.0 OTHER PRIVATE SERVICES purchased by foreign countries are increasing .5 NET RECEIPTS 0 4.0 GOVERNMENT SERVICES currently reflect expenditures of United States military agencies and their personnel 3.0 2.0 1.0 1930 1935 1940 1945 1950 U. S, DEPARTMENT OF COMMERCE. OFFICE OF BUSINESS ECONOMICS SURVEY OF CURRENT BUSINESS May 1952 disc exports, which totaled $12.6 billion during the same j>eriod. The outbreak of World War II stimulated the flow of services between the United States and foreign countries. Services provided or received by the Government, which had heretofore been negligible, now became the largest category. These services were almost entirely of a military nature, and included lend-lease and reverse lend-lease transactions, as well as the expenditures of American troops overseas. Transportation receipts also increased sharply during the war, as United States exports expanded and a large part had to be carried in United States ships. Developments since the end of the war have been in the direction of restoring the prewar pattern of service imports and exports, although the trend was interrupted by the outbreak of the Korean conflict. The readjustment has perhaps proceeded farther in the travel category than in the others, although the rise in travel expenditures was smaller than the prewar relationship to disposable personal incomes would have suggested. The decline in tourist expenditures relative to income was compensated, however, by greatly increased Government payments, principally because of the expenditures of the Armed Forces and of American troops stationed overseas. International Transportation International transportation contributed substantially to the growing United States surplus on all goods and services transactions in 1951. The preliminary data (table 1) indicate net United States receipts on transportation account of $577 million. This was almost five times the net receipts balance of $128 million in 1950 but only half of the postwar peak of $1,027 million net receipts recorded in 1947. These large net receipts, however, did not altogether constitute a drain on the foreign exchange reserves of foreign countries since large amounts of freight were paid from the various United States aid programs. Thus, in 1951, net "cash" payments by foreign countries to the United States for transportation services amounted to about $390 million. Sharp rise in export cargoes and earnings Freight earned on dry cargo vessel exports rose from $358 million in 1950 to $731 million in 1951, an increase of over 100 percent. Almost three-quarters of this increase resulted from the carriage of increased coal and grain cargoes. United States receipts had fallen from $256 million for carrying 56 percent, or 23 million tons, of the coal exported in 1947, to less than $1 million in 1950. However, as European production became inadequate in the latter part of 1950, large-scale purchases in the United States were resumed. Total United States ocean-borne exports of coal in 1951 to all areas rose to nearly 31 million tons, as compared with the previous year's 2 million tons, and United States earnings "rose to $140 million for the carriage of over 11 million tons. A very sizeable expansion also took place in United States exports of grain in 1951. About half this grain was carried by United States ships and earnings amounted to about $140 million as compared with $24 million in 1950. The rise in total exports between 1950 and 1951 also included about a 25 percent increase in the tonnage of the other, more usual, types of dry cargo exports carried on United States vessels, earnings on this cargo increasing to $406 million from $282 million in 1950. In addition, earnings from the "indirect" tanker trade doubled, rising from some $84 million in 1950 to $166 million in 1951, as European and other consumers were forced to turn to Caribbean and other more distant sources of supply as substitutes for Iranian oil. 19 Upswing in freight rates Freight rates in 1951 were higher than in 1950 and contributed substantially to the increased earnings of the United States vessel operators. Owing to the near disappearance of coal cargoes in 1950, freight rates in the tramp vessel market were considerably reduced. When coal shipments were resumed on a large scale in December 1950, they were superimposed on an already tight shipping market caused chiefly by military demands for the Korean conflict, by United States Government stockpiling, and by an increasing volume of world trade. Table 1.—International Transportation Account [Millions of dollars] 1922-39 aver- 1946 age Receipts, total Ocean shipping, total Freight (United States earnings—exports and inter-foreign country trade) Port expenditures (Foreign operators' expenses in United States) i Charter hire (United States ships leased to foreigners) _ 1947 1950 1951 273 1,420 1,788 926 1,494 239 1,268 1,587 728 1,274 92 1,065 1,257 484 954 147 181 311 208 310 n.a. 22 19 36 10 10 28 44 39 65 26 70 24 77 Passenger fares (paid by foreigners to United States carriers) : Ocean Air Other air, Great Lakes, rail and pipeline transport, and mail and freight-car rental receipts Payments, total Ocean shipping, total Freight (foreign operators' earnings on United States imports) Port expendituresJ (United States operators' expenses abroad) Charter hire (foreign ships leased to United States operators) 2 24 80 97 102 119 348 599 761 798 917 203 461 577 489 629 142 163 225 268 366 61 267 315 138 176 n.a. 31 37 83 87 Passenger fares (paid by United States residents to foreign carriers) : Ocean _ _._ Air 109 17 6 48 9 121 26 107 29 Other air, Great Lakes, and rail transport and freight car hire 36 115 127 162 152 -75 +821 +1, 027 +128 +577 -63 +818 +1,001 +144 +562 Net balance: transportation account (net receipts-f, payments—) _ . _ _ __ Ocean shipping plus ocean fares (net receipts-f, payments—) . __ .- -Other items plus air fares (net receipts-)-, net payments — ) _- -_ _ _ -12 +3 ^ +26 -16 +15 1 Includes passenger vessel expenses. 2 Small Great Lakes freight included in ocean freight. n. a. Not available. Source: U. S. Department of Commerce, Office of Business Economics. Private ship operators began to augment their fleets by purchasing or chartering Government-owned vessels, but rates continued to climb. In order to reduce freight costs and thus permit the greater use of aid funds for the purchase of essential materials, the EGA arranged for the release of ships out of the reserve fleet. Over the year, the Maritime Administration released about 470 vessels, which were operated by shipping companies as agents for the National Shipping Authority. Rates began to drop in April and by June or July reached the NSA ceilings set a month previously for cargoes carried on NSA vessels. From the middle of the year on, virtually all coal shipments were carried at NSA rates. Conference liner rates, applicable to 30-50 percent of the grain shipments, and to most other cargoes except coal, fertilizers, and similar commodities generally shipped in bulk in tramp vessels, also increased in 1951 as compared to 1950. As a result of the increase in the demand for shipping after Korea and because of increasing costs, the conferences generally instituted freight rate increases averaging over 1Q 20 SUKVEY OF CUKEENT BUSINESS percent in December 1950. Another general 10 percent increase was placed in effect in December 1951. Imports raise foreign operators' earnings Foreign vessel operators also gained by their participation in the heightened shipping activities of 1951, but the increase in their freight earnings on United States imports from $268 million in 1950 to $366 million in 1951 was only a little more than one-fourth of the increase in United States operators' export freight earnings. About $75 million of the increase in foreign earnings came from increased imports in foreign tankers. Ordinarily, United States petroleum companies and their foreign affiliates (here counted as foreign operators for balance of payments purposes) can supply sufficient tanker capacity for normal demand. But in periods of peak activity tankers under independent control are utilized at higher rates. Rates Shipping Receipts Rise After Steady Decline BULK CARGO EXPORTS major factor in fluctuation MILLIONS OF LONG TONS MILLIONS OF DOLLARS 120 1200 May 1952 in the charter market for independent tankers quadrupled between June 1950 and the first quarter of 1951. Bates fell from the middle of 1951 on, partly due to the setting of ceilings for tanker freight charges reimbursable by EGA, but remained at about twice the June 1950 level for the rest of the year. These rate increases, together with an increase of about 12 percent in the tonnage of imports carried by foreign tankers, accounted for the sharp rise in foreign operators7 earnings. The higher rates were also reflected in increased charter hire payments to foreigners, which averaged about $85 million in 1950 and 1951 (for both dry cargo and tanker vessels) as> compared with $52 million in 1949. Only about $25 million of the increase was earned on dry cargo vessel imports. This appears to have been the result of the decline in United States purchases abroad, after the second quarter of 1951, particularly for those commodities more extensively carried by foreign-flag vessels. While the tonnage of imports carried in United States-flag vessels remained relatively stable over the year, the tonnage carried in foreign-flag vessels declined rapidly and in the fourth quarter of 1951 was below that of the first quarter of 1950. For 1951 as a whole, import tonnage carried by foreign operators was about 4 percent lower than in 1950 (see chart). Freight rate increases, averaging somewhat higher than the increases in export rates, accounted for the increase in earnings. NET OCEAN SHIPPING RECEIPTS T( RIGHT SCALE) 1000 Downtrend in U. S. flag participation 80 800 60 600 40 400 20 200 Accompanying a decline in t he proportion of United States to total world shipping tonnage after the war, foreign-flag vessels took an increasing share of United States exports until, in 1950, slightly over 60 percent of the total was carried by them, despite declining tonnages and the requirements in EGA and other foreign aid legislation that United States-flag vessels carry at least half of EGA-financed shipments. In 1951, the foreign-flag share of the total declined slightly to about 59 percent. It is perhaps most significant in connection with future participation rates and earnings that, over the postwar years, the positions of the United States and foreign fleets have been reversed with regard to the carriage of cargo other than coal and grain, foreign-flag vessels carrying 61 percent in 1951 whereas United States vessels carried slightly over 61 percent in 1947. This is also true with regard to the carriage of imports. Where United States-flag vessels carried 61 percent of dry cargo imports in 1946, foreign-flag vessels carried this proportion in 1951. Also, foreign-flag tankers now carry over 50 percent of tanker imports where United States-flag vessels had previously carried over 76 percent. Many of the foreignflag tankers, however, are owned by American oil companies. Foreign-flag vessels reasserted their prewar dominance in the carriage of passengers as early as 1947. For the carriage of United States residents (the balance of payments item), fare payments rose from $17 million in 1946 to a peak of $121 million in 1950, and $107 million in 1951, as foreign passenger ship capacity was reconstructed and average fare costs rose. Fare payments to foreign ocean carriers exceeded foreign payments to United States carriers by $83 million in 1951. In contrast to ocean transportation, United States receipts of air fares from foreign passengers have outweighed United States fare payments to foreign air carriers. However, net United States receipts on fares plus relatively small export cargo earnings have, in the main, been offset by the United States airlines' expenses abroad, which amounted on the average to about $80 million in 1949-51. 100 OTHER DRY CARGO FOREIGN-FLAG VESSELS carry enlarged share of trade MILLIONS OF LONG TONS MILLIONS OF LONG TONS 100 100 \ U. S. FLAG \ nil FOREIGN FLAGS JBLJML 1946 1947 1948 1949 I960 </. S. DEPARTMENT OF COMMERCE. OFFICE OF BUSINESS ECONOMICS 1951 52-57 SURVEY OF CURRENT BUSINESS May 1952 Travel Total foreign travel expenditures by United States residents in 1951 amounted to $733 million, about the same as in 1950, with a slight decline in travel to Europe being offset by larger outlays in Latin America.1 Western Hemisphere countries continued to receive about two-thirds of America's foreign travel dollars. 21 Expenditures of travelers within foreign countries follow the same general pattern as the fares paid by travelers. Persons using high-priced steamship accommodations spent nearly three times as much on the average as tourist-class travelers, 60 percent of whom are foreign-born. The difference in per diem expenditures is even wider. This disparity is partly offset by a shorter average length of stay by firstclass passengers and a longer stay by travelers in cabin and tourist classes. Expenditures in Europe decline Travel expenditures in Europe and the Mediterranean area during 1951 dropped $30 million below the 1950 total (table 2), due to a decline in the number of travelers visiting the area. Average expenditures per trip apparently increased slightly. In the closing months of 1950, the volume of outbound traffic to Europe dropped below the comparable period in 1949, departures remaining below the corresponding month in the previous year until the late summer of 1951. A portion of this decrease may be attributed to the outbreak of hostilities in Korea, which did not appreciably affect European travel until the end of 1950. A major portion of travelers to Europe had departed by the end of June of that year and most others planning summer tours had already prepaid the cost of their trip. In addition, the celebration of Holy Year in 1950 increased travel to the area, as indicated by the fact that both the number and proportion of travelers going to Italy in 1950 were higher than in either 1949 or 1951. Average traveler spends $759 in Europe Geographical Shift in Pattern of Travel Expenditures 60 50 CANADA <o 1 b: 40 I EUROPE AND MEDITERRANEAN AREA I 30 I Average expenditures in Europe by American travelers have not varied greatly during the period from 1949 to 1951. The slight decrease in length of stay has been offset in part by the increase in per diem expenditures. This increase may 10 S Table 2.—Estimated Expenditures and Numbers of United States Residents Traveling in Foreign Countries in 1951 1 1 1929 Expenditures Number of (millions of travelers (thousands) dollars) I .. All countries Canada Mexico. Total oversea areas _ - _ _.- Europe and Mediterranean _ West Indies and Central America South America _.. Other oversea countries _. _._ 733 i 262 162 309 n. a. n. a. 195 76 25 13 255 380 42 12 689 1 Passenger fares and Government travel are excluded; for detailed treatment, see footnotes, table 1, p. 21, SURVEY OF CURRENT BUSINESS, May 1951. n. a. Not available. Source: U. S. Department of Commerce, Office of Business Economics, based on questionnaire returns; numbers based on data of U. S. Department of Justice, Immigration and Naturalization Service. be explained in part by rising prices and greater availability of merchandise. Apparently the currency devaluations which took place in many countries in September 1949 did not decrease average dollar expenditures; in some countries, in fact, the currency devaluations merely reduced the official rate to the effective one. The arithmetic average for all travelers, $759, is significantly higher than the median expenditure, due to the disproportionately large number of travelers in the lower expenditure brackets. Over half of the travelers spent $525 or less. Presumably the low expenditure groups include many persons visiting relatives. 1 Fares paid to United States and foreign carriers for travel between the United States and rioneon f iguous foreign countries are included with transportation. Expenditures by military personnel and employees of the United States Government and international agencies are included with other services. Americans employed abroad are considered nonresidents. .•* WEST INDIES AND CENTRAL AMERICA 31 U. S. DEPARTMENT 33 i 35 I I 37 ••«..«,»•* WAR YEARS I I I I 39 OF COMMERCE. OFFICE OF BUSINESS I 47 ECONOMICS I 49 I ( 51 52-62 Travelers by air spent on the average considerably more in 1951 than in 1950, the low level of expenditures in 1950 being due to a relatively large proportion of religious pilgrims on low-cost charter flights, whose spending was limited. This factor also accounted for the rise in average air fares, from $645 to $670 per round trip. The decline in travel which began in the fall of 1950 was apparently halted late in 1951, producing a smaller-than-usual seasonal decrease in expenditures in the fourth quarter. Average expenditures per trip also rose contra-seasonally, indicating that the pickup was in business or tourist, rather than family, travel. Travel to Western Hemisphere rises Expenditures in nearby areas increased in 1951. These areas received twice as large a share of United States foreign travel expenditures as in 1929, the peak prewar year. This continued the long-term upward trend in travel to nearby countries. Expenditures in Canada amounted to slightly over onethird of total foreign travel payments in 1950 and 1951. This was a smaller share of United States travel dollars than in any of the preceding ten years. Canada's relatively large share of tourist earnings during and immediately after the war reflected the curtailment of travel to oversea countries. The all-time high of $267 million was reached in 1948, and American expenditures have leveled off since that year. 22 SURVEY OF CURRENT BUSINESS Expenditures in Mexico, on the other hand, have increased sharply during the last 3 years. The increase may be attributed to such factors as the devaluation of the peso and the greater accessibility of many Mexican cities because of new highways and extended air service. A large portion of travel to both contiguous countries consists of short local trips. This type of travel, giving rise to more than half of total travel payments in the case of Mexico, is relatively stable, following closely economic conditions in the border area. Foreigners spend more here Expenditures by foreigners traveling in the United States increased by nearly 20 percent in 1951, to reach $444 million, the highest figure ever recorded. Over half of this represented expenditures of Canadian tourists, which have reduced Canada's net receipts on its United States tourist account from over $100 million in 1949 to a virtual balance in 1951. Size Distribution of Travel Expenditures More than half the Americans visiting Europe spent $525 or less EXPENDITURE GROUP UNDER EXPENDITURE GROUP r) $26 2 4 6 8 10 I I 1 1 1 12 1.0% 1 26-125 126-225 226-325 1 326-425 1 426-525 526-625 May 195 the Department of State and other nonmilitary agencies f( administrative and operating cost sand the purchase and mail tenance of installations and facilities, which are included i service expenditures. In addition, expenditures of militar agencies after World War II, although sharply decreased froi the peak reached during the war years, have not fallen bekr an annual amount of $300 million, the figure recorded fc 1947. With the outbreak of hostilities in Korea, and in fulfillm United States commitments to the buildup of security force in Western Europe, service expenditures of the Armed Force and their personnel abroad rose to a postwar high of ove $900 million in 1951, and was at an 2annual rate of $1.2 billioi during the last quarter of the year. Japanese services support U. N. in Korea Military expenditures in Japan rose sharply after tin Korean outbreak, primarily because of that country's proximity to3 the scene of hostilities. Figures from official Japanese sources indicate that dollar earnings in 1951 from the sale o1 services—repair, storage, transportation, construction—ir support of United Nations Forces in Korea and the sale oi yen to American personnel and official and quasi-official United States agencies, amounted to $400-$425 million. This is about equal to total Japanese merchandise exports to the United States in that year, including merchandise procured by the United States in Japan for the logistical support of the Korean operations, ^Despite the magnitude of military operations in Korea, that country's dollar earnings from United States Government expenditures have been relatively small. The virtual destruction of Korea's economy and means of production has precluded all but a minimum of military procurement by the armed services and personal spending by the troops. 1 626-725 726-825 | 826-925 L 1,026-1,150 1,151-1,250 1,251-1,350 1,351-1,450 1,451-1,550 1,551-1,650 Table 3.—Number and Expenditures of United States Residents Traveling in Europe and the Mediterranean Area, 1950 and 1951; Total and Selected Countries 1 r 926-1,025 EZ_ i— 3 Total expend!-! Number of Average ex- I Average tares (millions! travelers ipenditures perj length of stay of dollars) j (thousands) | trip (dollars) (days) Country 1,651-1,750 Europe and Mediterranean 22.5. 0 195. 0 302. 0 255. 1 742 1,751-1,850 France. United Kingdom. Italy. Switzerland Germany i 5<>. 0 ; 37. 0 ; 50. 0 18.0 1 14. 5 48.5 164. 6 137.2 136. 4 94 2 73. 5 144. 4 123.8 100. 7 80 1 68.5 338 262 3<51 384 211 44. 1 21. 1 9.5 18 4 17.9 36 7 21. 7 16 6 9 18 9 3 1,851-1,950 1,951-2,050 OVER $2,050 4.8% i I ! 1 Netherlands Sweden- . . . . . _ _ Greece - Eire Spain. - i NOTE.- DATA ARE FOR THIRD QUARTER OP 195( U. S. DEPARTMENT OF COMMERCE. OFFICE OF BUSINESS ECONOMICS 52-63 Expenditures for travel in the United States by Europeans have not varied greatly over the past few years. Exchange restrictions have curbed expenditures for recreational travel; however, this has been partly offset by increased business travel. Receipts from Latin American travelers during the past few years have continued to increase, reflecting mainly the income rise in these countries. Government Services The expanding role of the United States in world affairs in recent years has resulted in increasing outlays abroad by Belgium Denmark Norway Austria Portugal ! i i : ' 36.5 34.0 15. 5 15.5 6. 0 5.0 4. 0 60 2.5 4.0 56. 0 24.7 10. 2 26 0 13.9 4. 5 4. 0 4 0 3? 0 ' 0 3.5 3.5 3 0 30 2 5 47.3 23.1 18 4 239 3 I 1 4^ 4.5 4. 5 4 0 759 ' ; '. '• ; 337 293 337 193 230 66 ! 63 20 19 •>(; j 36 ' 11 i 28 27 32 12 26 112 101 207 ] 21(5 449 > 478 : 246 \ 218 181 215 i 11 31 i 62 ' 9 8 l 31 ' 8 29 52 36 23 97 169 28 126 143 9 19 31 ' 12 ' 8 15 26 12 11 1 31 9 ! 102 155 \; 171 134 9 43 Source: U. S. Department of Commerce, Otlice of Business Economics, based on questionnaire returns. 2 It should be pointed out that only a small part of the total cost of conducting United States military operations abroad is reflected in the United States balance of payments estimates. Primarily excluded, of course, are costs incurred in the United States for repair, maintenance and other services, and for clothing, equipment, armaments, etc., originating in the United States and supplied to troops and installations abroad. Foreign disbursements of pay and allowances to United States personnel abroad are included on a net rather than a gross basis and reflect only that portion of their total pay which these individuals are estimated to have spent in the foreign economies for the purchase of local goods and services. 3 "Foreign Exchange Statistics/' published monthly by the Foreign Exchange Control Department, Bank of Japan. SURVEY OF CURRENT BUSINESS Mav 1952 Outlook for 1952 In 1952, in recognition of Japan's new status as an independent nation after ratification of the San Francisco peace treaty, the position of United States forces will increasingly shift, continuing a process begun in the second half of 1951. This will mean larger troop expenditures and more Typo of Travel Expenditures, Distribution by Size Lower expendifures of air travelers is due to shorter stay 23 receiving grant aid. In the four years ending December, 1951, approximately $150 million, or 18 percent of the total amount (dollars and counterpart) spent by all nonmilitary agencies in this period was financed in this way. Data on Government miscellaneous services include the cost of United States participation in various international organizations, which has averaged over $26 million a year for the past five years.5 This compares to the aggregate total of $3 million contributed to the support of international bodies during the entire twenty-one years from 1919 to 1939. Donated services dominate "receipts" i i i i i i i i I i i i i r i i i "ph~i- The steady rise in the value of Government services provided to foreign countries (principally the OEEC countries) from 1947 to 1951 was characterized by a continually increasing proportion of services provided as grants and represented for the most part the activities of nonmilitary agencies. Grant services represent the overhead costs of administering the Government's unilateral aid programs, technical aid provided by Government agencies, and other service costs paid out of appropriated foreign-aid funds. Tolls collected from foreign-flag ships by the Panama Canal, harbor terminal and freight charges of the Panama Railroad, and the Post Office Department settlements with foreign administrations for the carriage and handling of foreign mail represent over 50 percent of the Government's cash receipts on service account. Gold handling charges of the Treasury Department and consular and visa fee collections b}^ the State Department account for most of the remainder. In total, this item has maintained a steady rate of about $50 million a year for the past 5 years. TOTAL EXPENDITURE PER PERSON NOTE.- DATA ARE FOR THIRD QUARTER OF 195! U. S. DEPARTMENT OF COMMERCE. OFFICE OF BUSINESS ECONOMICS 52-64 Other Private Services Expenditures for services by the State Department and other nonmilitary agencies of the Government reached a post-World War II peak of $237 million in 1951, as compared with the 1946 low of $69 million. The regular peacetime overseas functions of these agencies were supplemented after 1946 by activities connected with the Government's various programs of foreign aid. Some of these expenditures were paid out of counterpart funds furnished by the countries Film rentals have been the largest source of the net surplus on private miscellaneous-service transactions which has been characteristic of the past two decades. Slightly more than half of film rentals, including the value of blocked earnings, were obtained from the United Kingdom and other OEEC countries in each of the postwar years. The estimated total of $129 million in 1951 was exceeded only in 1946, when rentals reached $142 million. Private sales of services to foreign governments and international organizations and their personnel amounted in 1951 to an estimated $114 million, including expenditures of the United Nations and other international organizations of $53 million. This compares with a total of $138 million for 1946 when international agencies (including UNliRA) spent only $26 million. Private miscellaneous services producing significant net surpluses include (1) management fees and home office charges for services rendered by American companies to their foreign branches and subsidiaries, $115 million in 1951 and (2) United States engineers and contractors receipts for services rendered under foreign contracts estimated at about $75 million in 1951. Other miscellaneous service items are largely offsetting in amount. The largest, reinsurance transactions, in the three years beginning 1949 has involved net payments to foreign countries—principally the United Kingdom—averaging less than $50 million a year, although total reinsurance transactions (receipts and payments) in the same period averaged $244 million annually. 4 Based on pre-Korea costs, this sum is estimated at about $155 million per annum. Under the Administrative Agreement, Japan will provide an additional $155 million a year in yen; this amount is subject to periodic adjustment. 5 These data do not include subscriptions to the International Bank and Fund, which are considered Government investments, or contributions of the character of grants or gifts, which are treated in the balance-of-payments as unilateral rather than_service transactions. dollars for Japan. In addition, the United States Government lias, since July 1, 1951, been pa}dng for approximately half of the goods and services formerly supplied by Japan as occupation costs and will continue to do so under terms of the special Security Treaty between the United States and Japan, signed September 8, 1951 (and implementing Administrative Agreement, signed February 28, 1952)4. The additional dollar payments to Japan as a result of these developments are expected to compensate for the loss of grant aid formerly provided under the Army civilian supply program (GARIOA). At the present time, certain arrangements to provide free services to United States occupation personnel in Germany have been, or are being, terminated. Negotiations are currently proceeding for a "contractual peace agreement 7 ' with West Germany, expected to be somewhat similar to the United States-Japanese agreements. Nonmilitary-agency service payments rise SURVEY OF CURRENT BUSINESS 24 May 19; Review of National Income and Product in the First Quarter of 1952 (Continued from p. 6) terial industries dampened the effect of the payroll advances in the defense-supporting industries in the durables group total; however, the latter increases were in any case less than in the prior quarter. Farm income off Proprietors7 and rental income, at an annual rate of $48% billion, was down $1 billion from the fourth quarter of last year. This decline reflected a drop in farm income, partly offset by an advance in nonfarm entrepreneurial incomes. Farm income, which is subject to irregular movements on a quarterly basis, dropped from a seasonally adjusted annual rate of $17% billion in the final quarter of 1951 to $16 billion in the opening quarter of this year—down somewhat from the first-quarter 1951 rate. The income of nonfarm proprietors, which has been virtually stable since the beginning of 1951, advanced $% billion, at an annual rate, in the first quarter. The improvement was in large measure traceable to the first-quarter pickup in retail trade, which is a dominating influence in this arej Most of this increase is offset in the personal income toti by the deduction—starting in January 1952—of contributor of self-employed persons brought into the Old-Age and Sui vivors Insurance system under the 1950 amendments to th Social Security Act. These contributions, equalling 2% pei cent of the first $3,600 of income, are estimated at $40 millions, at annual rates. Year-end extras affect dividends Aside from farm income, the only other major componen of personal income to drop in the first quarter was dividends Although the decline amounted to about 7 percent of th fourth-quarter figure, the first-quarter level at an annual rat of $9 billion was somewhat higher than that of the corre spending period last year. The decline is in part attributec to the large volume of extra and special disbursements at th< 1951 year-end, and in part to reductions in regular disburse rnents. Labor Income in the Postwar Period (Continued from p. 13) than one-fifth in agriculture, forestry, and fisheries. The largest growth in supplementary benefits since 1946 has occurred in the mining industries, where supplementary benefits have risen from 4.4 to 8.6 percent of payrolls, primarily because of the establishment of the health and welfare funds in coal mining. In most industries, a floor for supplementary benefits is established by compulsory contributions under the old age and survivors insurance and unemployment insurance programs. Except for the areas where coverage is small, such as agriculture and services, the costs of these benefits (as a percent of payroll) do not vary greatly among the industrial divisions. Such variation as does exist centers in contributions for unemployment insurance, where rates may differ because of unemployment experience in the industry. Thus, the relative cost of unemployment insurance contributions is largest in the highly seasonal construction industry (about 2 percent of payroll in 1951) and smallest in the stable finance and utilities areas (about 1 percent of payroll in 1951). Table 6.—Supplements to Wages and Salaries as a Percent of Private Industry Payrolls, by Industry Divisions, 1946—51 All private industries, total Agriculture, forestry, and fisheries Mining _ _ _ _ _ Contract construction Manufacturing _ Wholesale and retail trade Finance, insurance, and real estate Transportation Communication and public utilities Services . ._ _ _ _ 1946 1947 1948 1949 1950 4.26 4.43 4 22 4.44 5.09 5.25 .46 4.35 4. 76 4.71 3.27 5. 35 5. 94 8.68 2.21 .45 5.17 4.70 4.87 3.32 5. 17 7.09 8.49 2.11 .42 6. 05 4.47 470 3.02 5.99 5. 76 8.27 2.06 . 50 6. 55 4. 03 497 3.20 6.42 5. 99 8. 67 2. 18 .55 8.58 5. 09 5.87 3 66 6.88 6. 09 9 57 2.44 1.02 8. 60 5. 15 5. 99 3 81 6. 95 6. 20 9 65 2.59 Source: U . S . Department of Commerce, Office of Business Economics. 1951 Another factor contributing to industrial differentials in supplementary wage benefits is the prevalence of work hazards, as reflected in compensation for injury payments. Such payments represent a significant proportion of payrolls in contract construction, transportation, and mining, but are relatively small in the other major industries. The largest industrial differentials in supplementary wage benefits, however, are found in employer contributions to private pensioa and welfare plans. Such contributions presently range from almost 7 percent of payroll in communications and public utilities, where pension and other employee benefit plans are of long standing, to minor amounts in agriculture and contract construction. Government supplements decline Government supplements to wages and salaries declined from $2.0 billion in 1946 to $1.4 billion in 1951 as a result of reduced Federal contributions to the Government life insurance funds. These contributions amounted to $1.4 billion in 1946, but only one-tenth of that amount in 1951. They represent largely reimbursements to the National Service Life Insurance Fund for death claims it had paid which were adjudged due to the extra hazards of military service. In contrast, contributions by both the Federal Government and State and local governments to civilian employees' retirement systems, and the pay of military reservists have increased in the postwar period. The pay of military reservists, which is included in "other government supplements" in table 5, is largely responsible for the sharp rise this category of supplementary wage benefits has shown over 1946. BUSINESS STATISTICS WlontLi J- HE STATISTICS here are a continuation of the data published in BUSINESS STATISTICS, the 1951 Statistical Supplement to the SURVEY OF CURRENT BUSINESS. That volume (price $1.50) contains monthly data for the years 1947 to 1950, and monthly averages for earlier years back to 1935 insofar as available; it also provides a description of each series and references to sources of monthly figures prior to 1947. Series added or revised since publication of the 1951 Supplement are indicated by an asterisk (*) and a dagger (t), respectively, the accompanying footnote indicating where historical data and a descriptive note may be found. The terms "unadjusted" and "adjusted" used to designate index numbers and dollar values refer to adjustment of monthly figures for seasonal variation. Monthly averages for 1951 are shown in the March 1952 Survey of Current Business. series will be found in the Weekly Supplement to the Survey. Unless otherwise stated, statistics through 1950 and descriptive notes are shown in the 1951 Statistical Supplement to the Survey Data subsequent to March 1952 for selected 1952 1951 March April June May July August September October November December January February March GENERAL BUSINESS INDICATORS NATIONAL INCOME AND PRODUCT Seasonally adjusted quarterly totals at annual rates: National income, total bil of dol Compensation of employees total do Wages and salaries, total do Private do IVtilitarv do Government civilian do Supplements to wages and salaries do Proprietors' and rental income, totaled do Business and professionalcf do Farm - _ _ _ do Rental income of persons do Corporate profits and inventory valuation adjustment total bil of dol Corporate profits before tax, total do Corporate profits tax liability do Corporate profits after tax do Inventory valuation adjustment do Net interest do 269.4 172 1 163.6 137.1 7.8 18.8 8.5 48.8 24.1 16.4 8.3 274.3 177 5 168.9 140.6 8.9 19.4 8.7 48.1 23.6 16.3 8.2 278.0 180 6 171.7 141.3 96 20.9 8.9 49.1 23.4 17.3 8.4 42.9 51.8 ' 29.6 '22.2 —8 9 5.6 43.0 45.4 '25.9 r !9.4 -2.3 5.7 Gross national product, total do Personal consumption expenditures, total do Durable goods do Nondurable goods do Services do Gross private domestic investment-. _ _ do New construction do Producers' durable equipment do Change in business inventories do Net foreign investment do Government purchases of goods and services, total bil of dol Federal (less Government sales) do State and local do 319.5 208.8 31.3 112.1 65.4 60.2 23.8 25.9 10.6 -2.7 Personal income, total Less: Personal tax and nontax payments Equals' Disposable personal income Personal saving§ do do do do T 280. 1 182 0 173.1 142.0 185 8 176 8 144 9 8.9 49.8 23.6 17.6 8.5 9.0 48 6 24.2 15.9 8.5 42.6 39.8 '22.8 M7.0 2.8 5.8 M2.5 MO.O r 22.9 T 17. 1 2.5 5.8 j 59 328.2 202.4 25.9 110.1 66.5 65.6 22 7 27.2 15.8 —.I 329.5 204.0 25.2 111.5 67.3 56.6 21.6 27.0 8.0 1.2 334.6 206. 7 25.0 113.6 68.1 54.6 20.7 29.0 4.9 2.5 339 7 209. 6 25 0 115. 6 69 0 53.4 22 7 30 4 .2 20 53.2 32 2 21.0 60.3 38.9 21.3 67.7 46.2 21.4 70.7 49.0 21.7 74.7 52 3 22.4 244.1 27.6 216.5 7.8 249.9 28.1 221.8 19.4 253.2 28.4 224.9 20.8 257. 0 29.7 227.2 20.5 257.9 31.6 226.3 16 7 PERSONAL INCOME, BY SOURCE Seasonally adjusted, at annual rates: Total personal income _ . . _ _ _ bil. ofdol__ Wage and salary disbursements, total do Commodity-producing industries do Distributive industries do Service industries do Government . _. ____ do Wage arid salary receipts, total 9 do Other labor income _ . . - . _ _ . _ do _ _ Proprietors' and rental income do Personal interest income and dividends. _do Transfer payments . - . do Less personal contributions for social insurance© bil. of dol. _ Total nonagricultural income do 245.5 165. 9 73.7 44.9 20.0 27.3 162.2 3.8 47.7 19.7 12.1 249.0 168. 2 75.0 45.3 20.1 27 8 164. 8 3.8 48.1 20.2 12.1 249.8 168.8 74.6 45.6 20 2 28.4 165.1 O Q 48.0 20.2 12.7 251.0 169.9 75.2 45.6 20.3 28.8 166.4 3.8 48.0 20.0 12.8 252 4 170.6 74. 8 46.0 20 3 29.5 167. 1 3.8 49 2 19.7 12.6 253.7 170.8 74.5 46.2 20 3 29.8 167.4 3.8 49.7 20.1 12.7 253.6 171.7 75.0 46.4 20 3 30.0 168. 3 3.8 48.3 20.7 12.5 257.5 173.1 75.1 46 1 20 4 31 5 169. 5 38 50 5 20.8 12 9 256.5 174.3 75.1 46.1 20 5 32.6 170.7 39 49 1 20.2 12 6 258.6 175.4 76.8 46.5 20. 7 31.4 171.9 3.9 49 8 20.7 12 3 257 7 175.8 76.7 46 8 20 7 31 6 172.1 39 49 9 '19.3 12 9 3.7 3.4 3.7 3.5 3.5 3.4 3.4 3.6 3.6 3.5 4.1 225.2 227.8 229. 0 230.1 230.1 231.3 232.1 234.5 234.8 235. 9 235.8 ' 258 3 r 177. 3 77.4 r 47 0 20 9 r 32 0 r 173. 7 3 9 r 48 6 *r 19. 9 12 6 r 257. 8 177.2 77.3 47.1 20 7 32.1 173. 6 4.0 47 4 20.6 12.6 4.0 4.0 238. 0 238.0 NEW PLANT AND EQUIPMENT EXPENDITURES 1 4,863 5,913 5,844 All industries, quarterly total J mil. of dol._ 6,672 6, 051 2,154 2,802 2,841 Manufacturing! do 3 335 *31 120 203 Mining _ __ _ do. 183 211 199 213 1 303 412 449 395 Railroad do 377 1 125 136 Other transportation do 130 120 140 1 753 893 Electric and gas utilities _ _ do 933 838 998 1 1,345 1,467 Commercial and miscellaneous do 1,374 1, 345 1,549 T 1 Revised. Estimates based on anticipated capital expenditures of business; those for subsequent periods of 1952 are shown on p. 15 of the April 1952 SURVEY. cf Includes inventory valuation adjustment. §Personal saving is excess of disposable income over personal consumption expenditures shown as a component of gross national product above. 9 Derived by deducting employee contributions for social insurance from total wage and salary disbursements. QData through 1951 represent employee contributions only; thereafter, personal contributions of self-employed persons are also included. ^Revised beginning 1945. For revised annual data for 1945-51, see p. 5 of the January 1952 SURVEY; and for quarterly data beginning 1947 for manufacturing, p. 20 of the December 1951 issue. S-l SUEVEY OF CUKRENT BUSINESS S-2 Hay 1052 1952 1951 Unless otherwise stated, statistics through 1950 and descriptive notes are shown in the 1951 Statistical Supplement to the Survey March April May June July August September October November December January February March GENERAL BUSINESS INDICATORS—Continued FARM INCOME AND MARKETINGS! Cash receipts from farming, including Government payments, total mil. of dol_. Farm marketings and CCC loans, total ._ do Crops do Livestock and products, total do Dairy products do Meat animals do Poultry and eggs _- -do Indexes of cash receipts from marketings and CCC loans, unadjusted: All commodities 1935-39=100.. Crops do Li vestock and products do Indexes of volume of farm marketings, unadjusted: All commodities 1935-39=100 Crops - -- - -- - .-do. _Livestock and products do 2,071 2,019 523 1,496 366 834 275 2,137 2,088 465 1,623 368 930 288 2,153 2,120 436 1,684 438 871 309 2,169 2,143 606 1,537 437 753 296 2,652 2,641 1,085 1,556 408 833 285 2,992 2,985 1,315 1,670 393 960 295 3,395 3,387 1,642 1,745 348 1,058 325 4, 355 4, 345 2,294 2, 051 341 1,350 348 P 3,600 r 3, 583 1, 765 r 1, 818 316 r 1, 097 397 3 115 3 097 1,530 1 567 337 868 356 2 642 2 619 1 111 1 508 2 043 2 010 330 924 243 330 809 227 2 087 2,044 613 1 431 376 794 251 303 183 393 313 163 427 319 153 444 323 214 405 398 384 410 450 465 440 511 580 459 655 811 540 541 624 479 467 541 412 395 393 397 303 226 361 308 217 377 111 71 141 113 61 152 117 57 163 123 84 152 151 153 148 168 186 154 184 218 158 219 273 178 180 192 172 160 168 155 145 137 151 115 82 140 116 74 148 219 222 223 223 214 220 223 222 220 217 r217 218 P217 231 232 233 232 223 229 232 230 229 227 r 227 228 i>227 275 263 160 195 141 335 209 202 225 278 264 169 185 161 337 211 204 227 277 263 168 173 165 336 206 197 227 276 261 164 164 163 338 205 197 225 266 253 151 160 146 328 199 188 225 269 254 158 165 154 328 197 191 213 273 258 158 167 153 336 197 190 214 276 261 158 171 151 340 201 190 230 277 261 155 172 146 347 209 198 236 280 263 141 r 280 r 280 261 142 261 148 176 133 358 217 204 249 *>280 v 262 pl49 p 175 * 135 P355 P218 p204 P252 232 207 180 269 314 265 243 231 183 292 311 255 242 242 184 275 310 248 241 251 184 266 307 238 239 248 179 273 293 216 238 251 182 259 305 223 237 254 180 251 311 226 230 252 182 228 311 223 217 237 179 206 313 216 194 185 296 524 118 104 127 149 120 147 97 195 175 298 532 106 97 112 152 153 150 103 197 180 298 538 97 88 103 159 196 149 108 197 191 300 548 98 86 106 165 221 144 123 188 190 301 554 83 71 92 176 221 141 191 197 179 303 557 98 80 110 189 215 139 263 199 193 303 560 100 83 111 192 169 149 297 193 197 303 556 91 80 98 177 128 156 210 191 178 304 563 91 81 97 164 98 188 111 do __do do do . do do __do do do _ _ _ do do do 208 198 269 184 199 179 239 188 175 374 133 161 215 205 255 185 193 188 238 185 153 380 146 167 212 201 263 186 207 179 247 190 164 377 144 172 209 199 263 187 212 170 251 185 157 378 137 178 189 182 262 183 211 155 243 160 123 379 100 167 196 189 265 187 213 166 243 170 145 360 115 190 196 191 266 185 214 180 245 163 142 334 114 188 196 191 269 185 212 181 239 154 140 293 114 191 do -- -- do ._ do do . __ __ _ do _ _ do 153 163 48 127 189 92 162 167 64 133 191 129 168 168 83 126 192 166 169 169 86 133 191 171 161 160 66 105 192 166 170 171 77 134 194 167 171 172 79 137 195 166 do 222 223 222 221 212 217 do 234 234 233 231 222 do do do do do _ _ do do do _ „ _ do 277 169 156 209 225 243 252 189 269 279 170 162 211 227 247 243 189 292 276 163 158 206 227 236 231 184 257 274 153 147 205 226 239 235 184 269 265 141 131 199 226 237 226 177 285 638 1 372 INDUSTRIAL PRODUCTION Federal Reserve Index Unadjusted, combined index -1935-39=100.. ^Manufactures do Durable manufactures do Iron and steel do Lumber and products do Furniture do Lumber _- _ _ __do_ __ Machinery do Nonferrous metals and products _ do Fabricating do Smelting and refining do .. Stone clay and glass products Cement - Clay products Glass containers Transportation equipment Automobiles (incl parts) do do__. do do do do .. Nondurable manufactures Alcoholic beverages Chemical products Industrial chemicals _ Leather and products Leather tanning Shoes Manufactured food products Dairy products M^eat packing Processed fruits and vegetables Paper and products Paper and pulp Petroleum and coal products Coke Gasoline Printing and publishing Rubber products _. Textiles and products Cotton consumption _ Rayon deliveries Wool textiles Tobacco products __ Minerals Fuels _ ._ Anthracite Bituminous coal _ Crude petroleum Metals Adjusted, combined indexcf Manufactures Durable manufactures Lumber and products Lumber Noiiferrous metals Smelting and refining _ Stone clay, and glass products Cement Clay products _ Glass containers _ do . do do do do do do . do _ do do do _ r r 178 r 175 122 125 359 r 358 207 196 235 r 216 r 206 243 205 188 r 212 220 177 201 r 320 r 167 r 219 ••321 r 221 r 220 185 154 302 184 145 r 563 r 208 196 r 165 232 ••319 215 186 152 298 r 300 r 558 r 55g 100 86 110 152 86 193 109 96 118 149 97 175 88 79 94 158 95 195 r gg r 84 r 84 191 187 276 185 214 183 245 157 144 183 181 281 185 215 178 250 152 136 283 118 137 187 185 194 190 282 188 176 179 104 147 199 r 163 169 178 99 152 196 115 r 15Q 218 218 219 r 218 r 226 228 226 228 267 146 137 197 213 228 222 176 249 271 146 135 196 214 228 219 173 246 274 149 138 201 230 219 217 172 222 277 157 149 209 235 212 219 173 204 283 162 154 217 249 294 257 289 120 198 r 281 188 211 170 250 157 144 296 116 176 175 245 r jr,o 150 294 129 167 r P 184 155 P 297 p 561 P149 117 165 p83 192 189 p277 187 p213 180 P 244 P 153 141 287 164 r 91 ?159 P171 67 122 ^200 p90 221 222 p220 228 r 231 232 p230 282 r 283 154 159 150 162 175 91 147 194 170 86 135 193 r gq r r 212 v 211 200 p 164 239 "319 P 214 141 207 235 r 219 242 172 216 r 89 r 216 243 217 233 180 r 223 r 162 174 77 135 * 199 r 175 239 p282 p 147 p218 p 252 p 221 244 p 172 239 199 198 193 198 187 197 192 188 Nondurable manufactures do 188 189 185 190 p 188 171 179 187 175 207 178 178 184 178 Alcoholic beverages do 188 176 170 174 r 292 296 302 298 305 306 298 Chemical products _ __ - do.. 301 299 298 299 P293 296 106 99 118 99 85 97 100 Leather and products do 91 89 88 107 100 81 105 75 88 89 Leather tanning _ __do 97 84 80 78 79 86 90 r 168 Manufactured food products, _ _ . _ __do. _ 165 164 167 167 166 163 167 160 160 163 p 167 165 138 147 148 148 146 150 150 143 140 Dairy products do 137 136 14° 137 1§9 159 163 149 162 145 152 Meat packing __do 157 168 168 163 162 179 r r 169 166 176 160 Processed fruits and vegetables do 139 147 152 163 121 123 p 151 129 !34 r Revised. » Preliminary. JData through 1950 have been revised to incorporate changes in methods of estimation (notably for truck crops) and to reflect revisions of production, disposition, or price, Revisions, extending back to 1910 in some instances, are shown on p. 23 of the December 1951 SURVEY. <f Seasonal factors for a number of industries were fixed at 100 during 1932-42; data for these industries are shown only in the unadjusted series. SURVEY OF CUREENT BUSINESS Mar 1952 Unless otherwise stated, statistics through 1950 and descriptive notes are shown in the 1951 Statistical Supplement to the Survey S-3 1952 1951 March April May July June August September October November December January February March GENERAL BUSINESS INDICATORS—Continued INDUSTRIAL PRODUCTION—Continued Federal Reserve Index — Continued Adjusted cf— Continued Manufactures— Continued Nondurable manufactures— Continued Paper and products ... 1935-39= 100 Paper and pulp do Printing and publishing ...do.-Tobacco products do 208 198 176 170 214 204 183 177 212 200 176 172 208 198 171 171 190 183 166 161 196 189 174 183 197 192 179 177 158 127 164 140 165 151 165 145 156 132 165 134 167 137 Business sales (adjusted), total. _ _ _ mil. of dol Manufacturing, total do Durable-goods industries do-_. Nondurable-goods industries do Wholesale trade, total _ do Durable-goods establishments do Nondurable-goods establishments do Retail trade total do Durable-goods stores . _ _ - do. . Nondurable-goods stores do 44, 222 22 605 10,851 11 754 8 984 3,050 5 934 12, 633 4,590 8 043 43, 448 22, 479 10, 739 11 740 8, 684 2,925 5 759 12 285 4 276 8 009 44, 728 23 434 11, 150 12 283 8 883 2 892 5 991 12 411 4 272 8 139 43 052 22 133 10 383 11 750 8 679 2 789 5 890 12 240 4 186 8 054 Business inventories, book value, end of month (adjusted), total mil. of dol Manufacturing, total _._ _ do Durable-goods industries do Nondurable-goods industries _ do Wholesale trade, total do Durable-goods establishments do Nondurable-goods establishments. . do Retail trade, total do Durable-goods stores do_ _ Nondurable-goods stores _ -do 65, 240 35 557 17 576 17 981 9 940 4 474 5 466 19 743 9,197 10 546 67 361 36 908 18 171 18 737 10 107 4 672 5 435 20 346 9,598 10 748 68 981 38* 068 18 923 19 145 10 270 4 880 5 390 20' 643 9 684 10 959 69 39 19 19 10 4 5 20 9 10 MANUFACTURERS* SALES, INVENTORIES, AND ORDERSf Sales: Value (unadjusted), total _ . _ mil. of dol Durable-goods industries do . Nondurable-goods industries do 23 662 11 457 12 205 21 851 10 630 11 220 22 603 10 827 11 776 21 912 10 567 11 345 T Value (adjusted), total do Durable-goods industries, total do Primary metals do . Fabricated metal products. _ -do Electrical machinery and equipment___do Machinery, except electrical do Motor vehicles and equipment do Transportation equipment, n. e. s do Furniture and fixtures do Lumber products, except furniture. . do Stone, clay, and glass products do Professional and scientific instruments. do Other industries, including ordnance .do 22, 605 10 851 1 953 1,171 1,140 1,796 1 859 407 350 754 570 245 608 22, 479 10 739 2 072 1,230 1,023 1,772 1 691 452 322 782 506 239 650 23 434 11 150 2 158 1,184 1,044 1,801 1 872 478 336 775 584 257 661 22 133 10 383 2 054 1 064 1,000 1 760 1 734 449 292 713 548 225 544 r 11, 754 3, 228 504 261 1,308 797 318 699 696 1,628 1, 856 459 11,740 3,235 484 281 1,354 768 294 680 757 1,596 1,853 439 12, 283 3,431 574 288 1,432 792 307 711 786 1,643 1,887 432 11 750 3,151 599 272 1 279 841 315 686 748 1,543 1,884 433 11 583 3,032 591 278 1 182 940 298 637 740 1,535 1,912 438 11 650 2,946 658 290 1 164 854 315 692 755 1,480 2 023 467 11 083 2,956 508 269 1 086 696 257 663 779 1,431 2 000 435 11 803 3, 156 503 339 1 167 782 265 695 837 1,511 2 102 445 11 482 3, 080 551 35, 970 17, 763 18, 207 37, 054 18,331 18,723 38, 262 19,178 19,084 39 085 19, 740 19 344 39, 840 20, 383 19, 457 40 283 20. 886 19 396 40 624 21,270 19, 354 15,282 9 147 11, 542 15, 658 9 412 11, 984 15,808 9 758 12, 696 16 010 9 823 13 252 16 128 10 180 13, 533 16 052 10 186 14 045 35, 557 17, 576 2,294 1,828 2,077 4,006 2,175 1,211 572 902 711 549 1,251 36 908 18, 171 2 298 1,872 2,180 4,136 2,275 1,273 578 950 741 570 1,298 38 068 18, 923 2 324 1,962 2, 338 4,286 2,336 1,367 612 990 762 596 1,351 39 009 19 598 2 353 2 056 2,465 4. 410 2 390 1, 473 601 1, 008 801 635 1, 406 39 908 20, 304 2 426 2 133 2,574 4,509 2 455 1 657 588 1,017 837 649 1,458 40 621 20 971 2 508 2 278 2,684 4,667 2 480 1 757 568 1,031 837 681 1,483 Minerals Metals - do do 191 187 175 194 196 191 177 185 r 174 144 r 170 122 184 182 174 147 T 163 r 122 187 185 175 176 193 189 177 175 192 188 177 174 167 r 167 T P164 P125 127 125 BUSINESS SALES AND INVENTORIES§ f Nondurable-goods industries, total do Food and kindred products do Beverages do Tobacco manufactures do Textile-mill products _ do_ Apparel and related products. _ do Leather and leather products _ do Paper and allied products. _ __do ._ Printing and publishing do Chemicals and allied products do_._ Petroleum and coal products do _ . Rubber products do Inventories, end of month: Book value (unadjusted), total. Durable-goods industries Nondurable-goods industries By stages of fabrication: 9 Purchased materials Goods in process Finished goods - . _ . do do _. _.do _ _ do do do Book vnlue (adjusted), total do Durable-goods industries, total. do Primarv metals - _ do_ _. Fabricated metal products . do _ Electiical machinery and equipment___do Machinery, except electrical. . . do Motor vehicles and equipment _ do Transportation equipment, n. e. s._ do _ Furniture and fixtures _. _ do Lumber products, except furniture do Stone clay, and glass products do Professional and scientific instruments. do Other industries, including ordnance, .do r T ' 41, 691 21 249 T 9, 666 11 583 8 384 2 624 5 760 12 058 3,967 8 091 r ' 42, 930 r' 41, 215 r' 44, 175 22 463 21 677 20 591 r 9, 508 r 10, 660 10 028 11 803 11 650 11 083 9 161 8 824 8 366 2,686 2,842 2 770 6 319 6 054 5 680 12 429 12 258 12 551 4 133 4 189 4 138 8 120 8 362 8 296 «• 43, 648 70 068 41, 424 21 817 19 608 10 109 4*926 5' 173 18 545 8,679 9 866 69, 988 41, 676 22 205 19, 470 10 035 4 838 5,197 r r 70 268 39 908 20 304 19' 605 10 315 5 045 5*270 20 045 9 494 10 551 4^2 009 598 412 151 887 264 282 562 720 19 601 8 820 10 781 r 21 249 r 9 666 1 974 1 026 870 1 708 1 467 ••495 244 623 508 232 519 r r r 22, 214 ' 10, 732 11, 482 8 942 2,718 6 224 12 492 4 036 8 456 «• 41, 609 r 20, 761 r 9, 786 10 975 8 530 2 487 6 043 12 318 3 918 8 400 r 43, 989 r 22, 484 10, 941 r 11,542 8,855 2,586 6,269 12, 650 4,150 70, 218 42, 206 22, 976 19, 230 9 951 69 965 41, 132 21 413 19 719 10 072 4 918 5 154 18 761 8 693 10 068 22 458 10 269 12 189 T 21 544 r 9 937 11 607 ' 20, 810 22, 039 ' 24 072 T 22 240 r «• 10, 473 9, 939 ' 11 451 ' 10, 588 12 621 11, 566 11 653 10 871 r ' 22 463 'r 22, 214 ' 20, 761 r 10 732 9, 786 •• 10 660 1,957 1 932 1,853 1,188 1,076 1,171 1,090 1,034 1,077 2,095 1 926 1 978 1 627 1 579 1 356 ••587 '610 '542 289 284 242 618 697 587 418 534 526 232 230 222 523 462 637 r 21, 677 r 10 028 1 872 977 1,056 1 728 1 648 ••521 278 658 540 223 526 20 591 r 9 508 1 740 973 1,032 1 680 1 471 '508 264 590 495 204 549 8, 385 9 895 70 107 42, 014 22 675 19 339 10 000 4 793 5 207 18, 093 8,218 9 875 2,979 582 r r r 5,117 18, 061 8,197 r r r r r 2,232 1 602 '624 240 666 499 288 549 11, 542 3, 012 586 42, 621 21, 964 10, 770 11, 194 8,259 2,494 6 266 12 862 4, 390 r 8 472 5, 765 12, 398 69 885 42, 193 23 037 19, 156 9 717 4 722 69, 882 42, 313 23, 232 19, 082 4,995 4,080 8,317 9,736 4,714 5,022 17, 975 r 8, 160 r 9, 815 17, 833 8,108 22 135 10, 700 r n 375 22, 992 11, 387 r 21, 964 10, 770 1,873 1,125 1,088 2,071 1,716 648 277 9,864 ' 22, 484 r 10, 941 1,944 1,238 1,060 2,696 T 4,834 r 10 975 45, 156 23, 332 11, 493 r 11 839 r 8 962 r 8,500 70 124 40 621 20 971 19 650 10 074 4 961 5 113 19 429 9,154 10 275 18,280 r T r r 23, 332 11 493 1 985 1,224 1,121 2 316 1 675 r 697 r 273 r 736 r 551 '284 '632 r 11 839 ' 3, 166 r 549 9,725 11,605 686 485 258 542 11, 194 2, 986 604 290 288 325 1 066 1 110 1, 139 787 206 658 727 208 601 768 203 691 829 1,486 2 092 782 1,408 1 927 875 1,518 1, 958 672 '856 >• 1. 598 r 2 089 438 363 468 440 40 958 21, 585 19 373 41, 353 19 430 42 047 22, 445 19 602 42 470 22, 852 19 618 r 42 584 r 23, 098 T 19 486 42, 759 23, 46,5 19, 283 15 836 10 561 14 2°7 16 243 10 682 14 033 16 388 10 735 14 230 16 669 10 924 14? 453 16 491 11 228 14 751 r 16 286 r 11 605 r 14 6°3 16 107 11 956 14 696 41 132 21 413 2 602 2 376 2,706 4, 770 2 521 1 879 571 1,018 836 690 1,443 41 424 21 817 2 664 2 439 2^736 4,873 2 633 1 960 ' 552 1, 036 829 701 1,393 41 676 22 205 2 687 2 431 2, 768 42 22 2 2 r 42 193 r 23' 037 2 819 2 418 2, 948 42 23 2 2 5,112 2 700 2 176 42 206 22 976 o 807 2 410 2,915 5,187 2 720 2 282 520 539 1. 092 841 718 1,428 1,086 868 724 1,437 21,924 4,995 2 731 2 098 542 1, 051 810 713 1,379 014 675 778 438 2,870 r 317 287 1 151 r 783 1,081 699 195 631 r 218 r 5,244 r 2 675 2 320 r 535 1,077 r 878 r 719 ' 1, 404 799 1,524 1,950 313 232 806 425 2,975 5,288 2 659 2 435 524 1, 095 904 703 1,417 Revised. » Preliminary. d^Seenote marked "c?" on p. S-2. § The term "business" here includes only manufacturing and trade. Business inventories as shown on p. S-l cover data for all types of producers, both farm and nonfarm. Unadjusted data for manufacturing are shown below on pp. S-3 and S-4; those for retail and wholesale trade, on pp. S-8, S-9, and S-10. t Revised series. All components of business sales, inventories, and orders have been revised; for appropriate explanations of changes and data through 1950 (except figures beginning 1948 for retail sales and beginning 1940 for the indicated orders series, which have been further revised and are available upon request), see pp. 15-24 of the October J1951 SURVEY. Manufacturers' sales, inventories, and orders (except as noted) have been revised beginning 1948, wholesale trade beginning 1939, and retail trade beginning 1940; moreover, the adoption of revised industry definitions for manufacturing beginning with the 1948 data results in discontinuity of industry figures for earlier periods. 9 Data beginning December 1947 are shown on p. 7 of the March 1952 SURVEY. SURVEY OF CURRENT BUSINESS S-4 Unless otherwise stated, statistics through 1950 and descriptive notes are shown in the 1951 Statistical Supplement to the Survey May 1952 1952 1951 March April May June July August September October November December January February March GENERAL BUSINESS INDICATORS—Continued MANUFACTURERS' SALES, INVENTORIES, AND ORDER Sf— Continued Inventories, end of month— Continued Book value (adjusted)— Continued Nondurable-goods industries, total-.mil. of dol__ Food and kindred products do Beverages do Tobacco manufactures - do_ Textile-mill products do. . Apparel and related products do Leather and leather products do__ Paper and allied products _ _ . _ do Printing and publishing do Chemicals and allied products do Petroleum and coal products do Rubber products do 17, 981 3, 330 1,222 1,(>05 2,800 ] , 590 18, 737 3, 551 1,242 1, 630 3, 046 1, 616 640 808 684 666 840 661 2, 520 2,228 2, 626 2,294 New orders, net (unadjusted), total! do Durable-goods industries, total} do Primary metals do Fabricated metal products - do Flectrical machinery and equipment do Machinery, except electrical _ _ -do Transportation equipment, including motor vehicles and parts! - mil.ofdoL Other industries, including ordnance t do Nondurable-goods industries, total do 28, 490 1 5, 542 2. 587 1,441 1,732 2,644 Unfilled orders (unadjusted) total} Durable-goods industries, total} Primary metals _ do do_ __ do Electrical machinery and equipment _ do. _ _ Machinery, except electrical _ _ _ _ _ _ _ d o _ _, Transportation equipment, including motor vehicles and parts} mil.of dol__ Other industries, including ordnance! do Nondurable-goods industries total do 19, 145 3, 580 1,254 1, 652 3,137 1,667 677 855 681 19, 605 3, 554 1,209 1,656 3,222 1,746 19,412 3, 542 1,254 1, 642 3,214 1, 687 19,650 3,619 1,161 1, 668 3,190 1,686 19, 719 3,546 1,201 1,712 3,130 1,644 652 917 702 622 924 711 2,850 2,481 2,906 2,523 2,970 2,574 ' 22. 482 r 22. 974 ' 12, 161 r 11,044 2, 037 2, 002 1 . 090 937 1,284 1,064 2,180 2,259 691 887 694 637 936 711 19, 608 3,545 1.200 1,766 3,048 1,498 607 942 711 19, 470 3,465 1,204 1,824 2,911 1,445 594 959 733 19, 339 3,386 1, 193 1,836 2,814 1 446 19, 230 3,376 1 168 1 , 795 2,774 1r 446 573 1,022 567 1,005 757 753 ' 19, 156 ••r 3, 451 1 224 'r 1,770 2, 670 r 1,384 r 546 ' 1, 051 ' 760 r 2, 996 r 2 500 19, 082 3,479 1 240 1 762 2 564 1 318 547 1, 056 763 3, 028 2 520 2,699 2, 360 2,771 2,420 23. 820 12, 987 2, 264 1,282 1, 304 2,304 23, 580 12, 404 2, 175 1,147 1, 246 2,308 24, 100 13,303 1,977 1,091 1,453 2,291 4,128 3,009 12, 948 3,199 2,634 10, 834 3,198 2,331 11, 176 4,349 2,143 10, 797 55, 350 47, 608 8,190 5 704 5,029 9,276 57, 403 50, 049 8,486 5, 858 5,287 9,739 58, 416 51, 662 8, 589 5 884 5,541 10, 178 60, 264 54, 058 8, 518 5 868 6,008 10, 144 r 62, 675 ' 63, 089 «• 62, 859 ' 56, 929 r 57. 704 r 57, 889 8, 556 8,822 8,877 5 827 5 879 5 849 6,776 6, 599 6, 530 11, 304 11,251 10, 803 ' 62, 703 ' 63, 374 •• 62, 908 ' 58, 022 '• 58, 751 r 58, 701 8, 691 8,036 8,613 5 676 5 597 5 598 6,809 6,898 7,197 11, 242 11,313 11, 281 r >• 11,328 63 208 59 503 7 697 5 420 8,208 10, 909 13,117 6,294 7,741 14, 118 6,560 7, 354 15, 070 6, 400 6, 755 17, 220 6,299 6, 206 r 18, 679 6,216 5, 746 ' 19, 663 ' 20, 652 >• 21, 221 5,941 5, 677 5, 368 4,681 4,624 4,208 ' 21, 544 •• 21,706 r 5, 400 5, 464 r 3, 737 3,920 21, 889 5,380 3,705 554 565 583 610 640 616 ' 3, 340 2,305 10, 321 r 2, 328 2,380 11,930 ••18,916 6,212 5, 385 3,004 2,582 659 705 3,030 2,566 r 739 ••21,314 »• 10, 122 1,487 1,074 1,207 1,745 23, 916 11, 584 2 179 1, 146 1,188 1,966 •• 22, 912 ••11,316 1 876 1,093 1 212 1,981 r 2, 396 2, 213 11, 286 2,612 2,494 12, 332 •• 19, 299 6,127 4,970 T 3, 151 2,002 11,596 3,000 2r 535 799 3,005 2 522 797 805 ' 20 344 ' 22 326 «• 22 192 r 11, 000 r 9, 889 '11,048 r I 715 1 348 2 008 1,056 1, 061 r 1, 454 1,341 1,111 r 1,906 2, 134 2,180 22 948 11,375 1 818 896 1,836 1,822 ' 2, 475 rr 2, 427 2, 132 2,213 >• 11, 192 11,278 2, 705 2 299 11, 573 »• 2, 605 1 521 10, 455 63, 195 r 59, 276 8 065 5 531 7,291 11,380 r 63, 253 r r59, 516 7 869 r 5 g74 ' 7, 538 BUSINESS POPULATION OPERATING BUSINESSES AND BUSINESS TURN-OVER Operating businesses, end of quarter, total Contract construction Q ' T- ' J f. • ~~ " thous_ _ do flft Retail tn.de ^Vhol^sale trade All other do do do Contract construction do c; ' ' ' d t do Retiil trade \Vholesale trade All other do do do Discontinued businesses, quarterly total Contract construction anura^i ^ -_ T? t "I tI a d ruaan , _ - do do do - All other do p 4,015.1 ' 377. 1 p 308. 6 » 857. 7 P 1,672.9 v 207. 4 v 591. 4 4, 007. 4 372.3 306.7 857. 2 1, 676. 8 206.6 587.8 p 4 008. 7 p 378. 1 v 307 2 p 856. 4 v 1,666.2 v 207 5 T> 593. 3 122.0 21.0 14.4 21.9 41.3 5.3 18.1 109.9 19. 4 12.9 19.2 38.3 4.5 15.5 100.2 14.3 10.8 18.3 41.4 3.7 11.8 v 102. 2 P14.6 •p 11.0 p 18.6 P42. 2 1-3.7 * 12.0 97 8 13 9 10.5 17 8 40 4 P3 6 v 11 5 93.8 74 6 75 2 91 4 14.9 9 2 16.5 33.7 3.7 13.4 ._ _ _ . _ _ |I. --- _ _ . BUSINESS INCORPORATION Stf New incorporations (48 States) 7,649 7,653 7,544 6,810 6,428 6,496 5,950 6,812 6,289 6, 913 number _ do do _ _ _ . do do do 732 69 83 115 377 88 693 52 81 119 365 76 755 64 94 128 385 84 699 43 71 129 390 66 665 55 74 130 340 66 678 56 89 136 333 64 620 39 84 150 277 70 643 57 85 150 304 47 587 48 68 106 307 58 thous. of doL- 17, 652 1,375 3, 292 5,169 5, 605 2.211 17, 064 1,055 2, 268 5,894 5, 647 2,200 23, 504 1,871 4. 655 5,497 7,487 3,994 22, 773 1,006 3, 085 5,014 7,434 6,234 21, 088 1,398 2,666 7,790 4,778 4.456 26, 417 1,358 4,290 10, 497 6, 173 4,099 26, 643 782 4, 668 14, 908 4, 826 1,459 29, 742 2,044 1,937 12,219 6, 707 6,835 17, 567 952 3,740 6,158 4, 369 2,348 _ _ number - r 8, 357 r 7, 138 7,902 612 48 71 131 296 66 671 50 68 143 348 62 619 52 70 133 304 60 715 55 72 148 371 69 19, 403 1,874 2, 251 6.515 5,177 3,586 26, 208 4,249 2, 672 8, 365 7,761 3,161 19, 474 1,649 1,935 5, 614 6,548 3,728 29, 232 4, 563 2,485 13, 046 6,905 2,233 INDUSTRIAL AND COMMERCIAL FAILURESd1 Failures, total _ Commercial service Construction Manufacturing and mining Retail trade _ . Wholesale trade Liabilities, total Construction Manufacturing and mining Retail trade Wholesale trade . do do__ do - do_ ••Revised. P Preliminary. fRevised series. See corresponding note on p. S-3. cf Data are from Dun & Bradstreet. Inc. ^Unpublished revisions for the indicated series on new and unfilled orders are available upon request as follows: Grand total and total durable-goods industries, June-September 1950; transportation equipment (incl. motor vehicles, etc.) and other industries (incl. ordnance), January 1946-September 1950. SURVEY OF CURRENT BUSINESS May 1952 Unless otherwise stated, statistics through 1950 and descriptive notes are shown in the 1951 Statistical Supplement to the Survey S-5 1952 1951 March April May June July December January 291 239 296 247 301 267 249 224 424 345 172 249 307 332 387 305 249 305 280 253 233 440 339 177 331 309 328 379 314 233 300 277 251 234 431 325 171 337 303 320 376 316 200 289 259 249 230 436 313 168 217 296 317 377 317 181 288 265 251 229 435 309 176 265 284 310 372 305 177 292 244 August February October November September March COMMODITY PRICES PRICES RECEIVED AND PAID BY FARMERS Prices received, all farm products§ Crops Food grains Feed grains and hay _ _ Tobacco Cotton _. Fruit Truck crops . __ _ _ Oil-bearing crops .._ Livestock and products Meat animals Dairy products Poultry and eggs ._ 1910-14=100.. do do _. do do do . do _ do __do do do do _ __ __do 311 276 245 221 437 359 202 265 386 343 428 280 217 309 275 247 222 438 363 209 225 385 340 428 273 215 305 271 244 223 438 357 194 239 380 335 418 270 221 301 263 294 252 240 217 438 353 200 189 358 335 422 269 217 236 213 438 329 175 204 317 332 414 272 222 234 215 430 291 207 181 294 336 416 277 231 233 216 423 283 201 161 288 337 411 283 247 239 219 445 304 188 171 296 340 410 294 247 Prices paid: All commodities 1910-14=100.. Commodities used in living do Commodities used in production do All commodities, interest, taxes, and wage rates 1910-14=100.- 272 269 274 273 269 276 272 270 274 272 270 273 271 270 273 271 270 273 271 268 275 272 268 277 274 271 277 273 272 275 275 271 278 276 271 281 275 270 280 280 283 283 282 282 282 282 283 284 284 287 288 288 Parity ratio? . 111 109 108 107 104 104 103 105 106 107 105 100 100 All commodities (U. S. Department of Commerce index) 1935-39=100 205.8 205.6 206.5 206.4 206 6 206 1 207 4 209 0 210 3 210 8 210.9 208 9 208 8 Coal (U. S. Department of Labor indexes): Anthracite Oct. 1922-Sept. 1925=100-. Bituminous _ do 170.0 168. 9 169.1 168.8 162.9 166.1 165.2 165.8 166 3 166 7 168 1 166 9 168 8 167 7 170 5 169 4 171 3 169 6 171 4 170 1 171.4 170 5 171.4 170 5 Consumers' price index (U. S. Dept. of Labor): All items-. _ 1935-39=100 . Apparel do Food do Cereals and bakery products do-_. Dairy products __ __ do Fruits and vegetables.. do Meats poultry, and fish do Fuel, electricity, and refrigeration _ _ _ do Gas and electricity do Other fuels _ _____ do Housefurnishings do Rent _ _ do Miscellaneous do 184.5 203.1 226.2 187.5 204.6 217.1 272.2 144.2 97.2 205.0 210.7 134.7 164.3 184.6 203.6 225.7 188.3 204.1 214.8 272.6 144.0 96.9 205.0 211 8 135.1 164.6 185.4 204.0 227.4 188.2 203.5 221.6 272.8 143.6 97.3 202.4 212 6 135.4 165.0 185.2 204.0 226.9 188.4 203.9 219.9 271.6 143.6 97 1 202.8 212 5 135.7 164.8 185 5 203 3 227 7 189 0 205 1 218 5 273 2 144 0 97 2 203 7 212 4 136 2 165 0 185 5 203 6 227 0 188 7 205 9 208 9 275 0 144 2 97 3 204 2 210 8 136 8 165 4 186 6 209 0 227 3 189 4 206 4 205 1 275 6 144 4 97 3 204 9 211 1 137 5 166 0 187 208 229 189 207 210 276 144 97 205 210 138 166 4 9 2 4 9 8 6 6 4 8 4 2 6 188 6 207 6 231 4 190 2 210 4 223 5 273 5 144 8 97 4 206 3 210 8 138 9 168 4 189 1 206 8 232 2 190 4 213 2 236 5 270 l 144 9 97 5 206 6 210 2 139 2 169 1 189.1 204 6 232.4 190.6 215 8 241.4 272 1 145 0 97 6 206 8 209 1 139 7 169 6 187 204 227 190 217 223 271 145 97 206 208 140 170 _ __do_ RETAIL PRICES r 9 3 5 9 0 5 1 3 9 7 6 2 2 il gg 203 227 191 215 232 267 145 97 206 207 140 170 o 5 6 2 7 1 7 3 9 8 6 5 7 WHOLESALE PRICESd" U. S. Department of Labor indexes (revised):f All commodities _ -1947-49=100 r 116.5 116 3 115.9 115 1 114 2 113 7 113 4 113 7 113 6 113 5 113 0 Farm products _ _ _ _ do Fruits and vegetables, fresh and dried. _do Grains __ do Livestock and live poultry __ do_ 117.6 88.5 100 2 122,9 117.5 98.3 100 2 123.2 115.7 103.8 98 3 119.8 113 9 94.2 94 7 119.9 111 1 90.8 94 3 118 6 110 4 89.4 95 8 118 2 109 9 92.8 96 6 116 2 111 5 96.1 101 1 114 5 112 0 106. 9 103 9 108 5 111 3 117.4 105 1 107 5 110 0 121.5 103 6 106 7 Foods, processed _ _ _~ do_ __ Cereal and bakery products __ .do Dairy products and ice cream do Fruits and vegetables, canned and frozen 1947-49=100-Meats, poultry, and fish. _ _ _do 112.0 107. 1 106.8 111.8 107.0 106.0 112 3 106.8 106.5 111.3 106.2 106.5 110 7 106 2 106.7 111 2 106 7 107.9 110 9 106 4 106.1 111 6 106 8 108.5 111 0 107 8 111.1 110 7 107 9 113.0 no i 106.7 117.1 106.7 117.1 105.8 118.1 104.4 117.2 103.5 116 8 103.4 117 5 104.7 118 3 105.6 119 5 106.1 115 8 106.2 113 6 105.7 113 5 117.3 111.8 120. 6 95.8 114.8 105 4 109.6 117. 1 111.5 120. 9 95.8 107.6 105. 4 109.9 116.8 111.3 121.2 95.6 103.6 105 3 109.5 116 2 110.2 120 9 95.7 88.5 103 5 108.7 115 7 108.8 120 4 95.6 70.0 107 1 107.8 114 9 108.5 120 4 95.6 70.4 107 9 107.4 114 8 108.7 120 7 95.6 73.0 107 2 108.0 114 6 108.8 120 9 95.6 71.8 107 5 108.7 114 5 108. 6 1°0 9 95.0 65.2 108 1 109.8 114 6 108.4 120 8 95.2 61. 5 108 9 109.9 114 3 106.7 118 1 94.8 56.8 109 4 109.3 Fuel, power, and lighting materials do Coal . _ do Electricitv do Gas ___ . _ - _ .. do Petroleum and products _ . do Furniture and other household durables 1947-49=100-. Appliances, household- . _ „ do Furniture, household do Radios, television, and phonographs__do 107 3 110 1 98 0 103 8 110. 7 106 5 108 2 97 4 101 5 110.4 106 107 98 98 110 106 108 98 97 110 106 107 98 97 110 5 2 5 5 8 106 3 107 *) 97 4 98 0 110 8 106 7 108 4 106 8 106 9 1 AO 0 QQ f) 107 4 f) 107 4 108 8 98 4 110 9 QQ 9 110 9 no o 110 9 110 8 110 8 115.1 107 9 117.6 92.6 115.4 107.9 117.5 92.6 115.3 107 9 117.4 92.6 115.0 108 1 116. 5 92.6 114.4 107 6 115.9 93.6 113.5 107 7 115. 6 93.2 113.1 108 0 115.5 92.9 112.8 107 9 115.4 93.0 112.7 107 9 115. 5 93.0 112.7 108 2 115. 1 93.0 112.3 108 0 113. 6 93.1 '112. 4 112.1 113.5 93.1 113.4 92.7 Hides, skins, and leather products Footwear Hides and skins Leather _do do do do 126.9 123 1 134.0 137 8 126.5 123 1 130.7 137 8 126.2 122 9 130.3 137 4 124.7 122 6 129.4 1^2 6 122.3 122 1 124.0 118.0 mo 111.5 113. 6 107.0 105.1 102.2 '99. 5 98.1 1 97 7 118.0 122 0 113. 3 118 7 109.5 87.6 81.7 69.7 63.7 r 89. 5 59. 0 87. 4 do do 126.6 126 7 126.6 126 7 126.1 126 0 124.6 124 ° 123.5 123 0 m 121.6 121.7 121.1 120. 3 120.1 '120. 3 120. 6 120. 5 120. 8 Commodities other than farm products and foods . ._ - - __ _ _ 1947-49=100 Chemicals and allied products do Chemicals, industrial _ _. . do Drugs, Pharmaceuticals, cosmetics - _ _ d o Fats and oils, inedible do Fertilizer materials. . . _ _ do Paint and paint materials Lumber and wood products Lumber do Machinery and motive products __ >_do-._ Agricultural machinery and equip. do Construction machinery and equip., .do Electrical machinery and equipment—do Motor vehicles do 2 8 0 2 2 3 1 0 2 4 122.3 7 no o 1 9ft A. 19A Q 108 7 AO -1 AO A 107 5 113.2 AO A. 1 r\f ,• l!2 5 112 3 107 8 112.6 101 7 106 ° 108 3 123.9 102 0 10^ 2 !09 5 107 4 l!5. 1 109 9 107 5 113.2 104.8 110 8 104.7 111 0 r r r l!4 2 '105. 9r H i -\ '93.4 51.2 100 A ••108. 7 m A 105. 4 mi 93.1 40. 7 109 0 108.0 98. 0 •I OA 7 118 6 118.6 118 6 118 6 1 90 ^ 1 9ft ft 118 8 118 9 119 4 120 2 120.3 120.3 120.3 120.3 120.1 120.1 120.1 120.2 120.2 120.2 121.5 121.8 121.8 123.6 123.6 123. 6 123.6 123.7 123.7 123.7 123.6 123.8 124. 0 124.6 '125. 2 125. 2 121.8 121.7 121.8 121.8 122.2 122.1 122.1 121.8 122.1 121.8 121.5 121. 6 121.4 114 1 112.1 112.1 112.1 112.2 119 « IIA n 11A Q 1 1 ft K. 117 1 i on a 1 on n 119 5 1 • .rujviseu. Indexed on old basis for March 1952 is 188.4. § April 1952 indexes: All farm products, 290; crops, 272; food grains, 250; feed grains and hay, 229; tobacco, 435; cotton, 313; fruit, 179; truck crops, 308; oil-bearing crops, 279; livestock and products, 306; meat animals, 372; dairy products, 291; poultry and eggs, 180. 9T j.vt^v, Ratio uof prices icwivcu received to prices paiu. paid \."^"uiug (including IUMJICDI,, interest, taxes, and wage rates). -""" actual ' * wholesale ' * w jLuiuea i,a,At;s, ttuu wa^t; itiiesj. cfFor prices of individual commodities, see respective commodities A JJ-IVAJO _ tRevised series. Data reflect use of new base period, expansion of commodity coverage, system, weights, and .£c, and 0,-uui changes uuaii^co in ui the ILIV classification uitt;5M.uucnJuii system, weijuus, ami calculation caicuiauoii method; meinoa; for ior monthly mommyy data aaia beginoegi. 1 : J /1/w> ning January 1947, see pp. 22-24 of the March 1952 SURVEY. It should be noted that the revised series does not re— ^ u ~former * ~ ~~ (1926=100) ^^ as ._ the ^ -.«•.-.-•.-•*._ of '.* primary • , _ . .pric .?.. vised series does not replace the index official index market prior to January 1952. SURVEY OF CURRENT BUSINESS S-6 Unless otherwise stated, statistics through 1950 and descriptive notes are shown in the 1951 Statistical Supplement to the Survey May 1952 1952 1951 March April May June July August September October November December January February March COMMODITY PRICES—Continued WHOLESALE PRICEScf— Continued U. S. Department of Labor indexes (revised):! — Con. Commodities other than farm prod., etc. — Con. Metals and metal products 1947-49=100— Heatin0" equipment do Iron and steel do N onferrous metals do _ Nonmetallic minerals, structural, do Clay products do Concrete products do Gypsum products do 123.2 114.8 122.9 125.3 113. 7 121.4 112.4 117.4 123.3 114.8 122.9 125.7 113.7 121.4 112.4 117.4 123. 2 114.8 122.9 125.4 113.6 121.4 112.4 117.4 122.7 114.6 122.9 123.2 113. 6 121.4 112.4 117.4 122.3 114.4 123 0 121.5 113.6 121.4 112.4 117.4 122.2 114.5 123 1 121.6 113.6 121.4 112.4 117.4 122.1 114 5 123 1 122 0 113.6 121.4 112.4 117.4 122.4 114 6 123 1 124 0 113.6 121.4 112.4 117.4 122.5 114 4 123 1 124 1 113.6 121.4 112.4 117 7 122.5 114 5 123 91 124 112.8 121 4 112.4 117 7 122.4 114 0 123 1 194 2 112.9 121 4 112.4 117 7 Pulp paper and allied products do Paper - - - - do Rubber and products do Tires and tubes do Textile products and appareL.. do \pparel do Cotton products - do_ ._ Silk products do -_ Synthetic textiles do Wool products - • - - do 120.3 117.1 152.3 133.9 115.9 104.3 118.9 146.3 102.3 164.7 119.7 117. 1 151. 5 133.9 115. 5 104.1 118.8 138.3 99.7 164.5 119.8 117.1 151. 3 133.9 114.8 104.1 117.8 124.9 98.7 161.8 120.2 117. 6 148. 3 133.9 112.9 103.7 116.0 133.7 98.0 151.7 120.2 118.3 144 3 133.9 111.6 105.0 113.0 116.1 96.7 145.5 119.5 119.8 144 3 133.9 108.5 104.5 106.9 112.3 94.0 140.0 119.4 121.5 144 7 133.9 105.9 104. 1 102. 5 117.9 92 9 129.8 118.8 122.1 144 7 133.9 103. 9 103 3 100.8 122.5 91 5 120.8 118 4 122 4 144 6 133 9 103.9 102 3 102 3 123 2 91 5 122 0 118 4 122 4 144 3 133 4 104.0 102 1 103 3 125.3 91 7 120 3 118 2 122 8 144 1 133 4 103.3 101 7 102 8 126 0 91 4 118 0 r Hg 3 Tobacco mfrs. and bottled beverages Beverages alcoholic - Cigarettes - 108.4 107.0 105.7 108. 4 107.0 105.7 108.4 107.0 105. 7 108.4 107.0 105. 7 107.9 106.1 105.7 107.8 105. 8 105.7 107.8 105. 8 105. 7 107.5 105. 8 105.7 107.5 105 9 105. 0 108.1 105 9 107.3 108.1 105 9 107. 3 r 44.8 54. 2 44.2 45.0 54.2 44.3 45.1 53.9 44.0 45.4 54.0 44.1 45.8 53.9 43.9 46.0 53.9 44.1 46.1 53.6 44.0 46.0 53. 0 43.2 46.0 52.9 43.1 46 3 52.9 43 0 do do - do_ -- 122.6 114 0 123 2 r J25 0 112.9 121 4 112.4 117 7 123 7 143 ] 133 4 102.1 r 101 7 r 1()1 0 130 2 89 9 114 4 l!0.8 r HI 2 107 3 122.6 114 o 123 2 125 0 112.9 121 4 112.4 117 7 117 7 123 8 142 1 133 4 100.6 101 6 99 6 129 1 87 3 111 9 110.8 111 2 1C7 3 PURCHASING POWER OF THE DOLLAR As measured byWholesale prices f Consumers' prices Retail food prices 1935-39=100.. 1 _ _ do do_ _ _ 1 46.0 53.4 ! 43.6 r 46 5 53 2 44 0 46 5 53 2 43 9 r 2 014 2 296 CONSTRUCTION AND REAL ESTATE CONSTRUCTION ACTIVITY New construction, total mil. of dol Private, total _ do Residential (nonfarm) do New dwelling units do Additions and alterations do_ _ . Nonresidential building, except farm and public utility total mil. ofdol.Tndustrial -do Commercial - do Farm construction - - -__do_ _ _ Public utility do Public total Residential Nonresidential building Militorv and naval Highway Conservation and development Other types - do _ ..do do -do do do do 2,198 2,388 2,584 2,737 2,797 2,843 2,827 2,709 2,495 2 222 2 124 1,614 1,691 1,787 1,879 1,915 1,916 862 785 61 898 810 72 1,899 922 825 81 959 855 88 968 860 91 954 845 92 1,805 1,692 954 845 93 945 840 91 1,521 915 815 86 809 715 80 1 472 400 143 128 83 264 409 152 125 95 283 442 168 130 113 305 463 178 131 126 326 465 190 120 134 343 459 198 108 140 357 451 202 100 130 358 393 178 83 108 353 343 155 75 92 336 320 147 69 81 305 584 37 255 41 110 61 80 697 42 283 56 160 69 87 797 45 298 68 215 76 95 858 48 305 75 250 84 96 882 49 308 88 260 82 95 927 55 312 108 280 80 92 928 63 302 122 275 78 88 904 67 289 137 250 77 84 803 69 269 148 170 74 73 r 1, 405 1,571 600 r 63 799 710 77 404 198 83 80 262 399 207 73 75 250 414 212 79 80 272 701 66 260 149 95 68 63 652 67 267 125 75 59 5Q r 609 725 62 296 132 105 62 68 28, 832 323 768 1, 234, 339 502, 416 736 731, 92? 032 31, 842 902, 091 296, 897 605 194 33 767 45 041 885, 206 1,321,254 554 050 338 662 767 204 546 544 720 650 57 r 676 66 251 115 r 70 r 56 56 CONTRACT AWARDS Construction contracts awarded in 37 States (F. W. Dodge Corp.): 44, 755 52, 700 49, 498 46,319 44, 334 42, 435 48, 376 42 735 Total projects number Total valuation thous. of dol_ 1, 267, 450 1,374,991 2, 572, 961 1, 408, 932 1,379,830 1,262,811 1,082,855 1,051,419 456,319 1,474,166 583, 146 486, 452 418, 457 615,370 317, 731 Public ownership do 306, 604 825, 786 918, 672 1,098,795 765, 124 848, 993 776, 359 764, 460 744 815 Private ownership do. Nonresidential buildings: Projects Floor area Valuation Residential buildings: projects Floor area Valuation. Public works: Projects Valuation Utilities: Projects Valuation _. - number.thotis. of sq. ft_. thous. of doL. 4,222 43, 301 469, 254 4,259 4,421 41, 473 44, 804 518, 021 1 , 633, 908 4,463 41, 162 553, 280 4,496 39, 926 536, 533 4,170 36, 700 475, 957 4,558 36, 273 404, 462 4,775 34, 782 418, 203 3,618 27, 611 327, 706 3,262 43, 016 593, 007 3, 3*>5 24, 868 357, 676 3 472 24, 941 301, 404 4 311 33, 345 463, 276 number thous. of SQ. ft_ thous. of doL. 42, 497 65, 761 574, 569 43, 197 65, 180 590, 848 45, 856 73, 596 661, 094 37, 588 60, 496 545, 152 37, 173 58, 823 548, 144 39, 864 60, 372 567, 566 35, 789 52, 438 479, 716 36, 152 52, 454 496, 247 31 162 47, 248 443, 884 24, 204 37, 985 346, 104 27 380 37, 423 337, 721 29 069 45 380 396, 438 38 860 65, 422 592, 717 number thous. of dol .. 1,318 166, 435 1,583 183,080 2,016 186, 868 2,204 183,973 2,151 190, 884 1,927 160, 368 1,756 141, 335 1,457 101, 903 1,233 117, 809 1,064 138, 859 840 130, 814 930 124 885 1 429 193, 714 - - .- number. _ thous. of doL. 339 459 407 500 514 358 332 91,091 126,527 104, 269 35, 066 441 42, 369 156,369 297 296 58, 920 57, 342 310 302 83, 042 351 57, 192 75, 880 62, 479 71, 547 165 228 234 234 177 163 149 134 182 162 179 169 147 168 132 r 197 193 166 175 156 176 141 • 200 199 170 192 200 174 134 136 156 140 160 141 156 146 152 186 163 176 118 161 142 r 145 r 156 163 171 150 162 829, 173 1, 196, 798 788, 429 1,042,851 Value of contract awards (F. R. indexes) :f Total unadjusted . 1947-49=100. Residential unadjusted - - do. Total adjusted do_. Residential, adjusted do . Engineering construction: Contract awards (E. N. R.)§ 36 931, 323 608 thous. of dol.. 1, 406, 456 1, 043, 434 1, 267, 995 1,027,087 1 , 378, 640 1,145,715 917, 158 1, 026, 973 1, 024, 775 124 166 145 r Highway concrete pavement contract awards:© 1 7,562 4.959 4,920 5,946 4,508 4,342 9,248 4,159 Total thous. of sq. yd 2 856 3 487 3 757 3 723 5 411 2,841 1,278 690 714 458 966 4, 335 275 671 * 413 \irports do 621 427 879 1 2,329 1,939 1,436 1,681 1,957 2,326 2,840 803 1,814 2, 197 Roads do 1 497 988 3 289 1 2,339 2,782 2,202 2,036 1.904 2,073 2,358 Streets and allevs do 1. 549 1.369 1.777 1.271 1. 856 1 . 695 r Revised. 1 Data include some contracts awarded in prior months but not reported. o"For actual wholesale prices of individual commodities, see respective commodities. f See note marked "f" on p. S-5. t Revised series. Purchasing-power data are based on revised price indexes shown on p. S-5. Indexes of contract awards reflect use of new base period. Revisions prior to 1951 for both series will be shown later. §Data for March, May, August, and November 1951 and January 1952 are for 5 weeks; other months, 4 weeks. QData for May, August, and November 1951 and January 1952 are for 5 weeks; other months, 4 weeks. SUKVEY OF CURRENT BUSINESS Jlav 1952 S-7 1951 Unless otherwise stated, statistics through 1950 and descriptive notes are shown in the 1951 Statistical Supplement to the Survey March April May June July 1952 August September October November December January Fe aT i March CONSTRUCTION AND REAL ESTATE—Continued NEW DWELLING UNITS AND URBAN BUILDING New permanent nonfarm dwelling units started (U S Department of Labor) _ number. _ Urban building authorized (U. S. Dept. of Labor): New urban dwelling units, total number. _ Privatelyfinanced,total . do Units in 1-family structures do Units in 2-family structures do Units in multifamily structures do__. Publicly financed total do Indexes of urban building authorized :t Number of new dwelling units... .1947-49 =100.. Valuation of building, total ._ .- do New residential building do___ New nonresidential building do Additions, alterations, and repairs do 93, 800 96, 200 101, 000 132, 500 90, 500 89, 100 96, 400 90, 000 74, 500 60, 800 ' 64, 900 77, 000 1 98, 000 54, 361 50, 738 40, 892 2,816 7, 030 3,623 54, 137 50, 565 42, 865 2, 857 4,843 3,572 57, 765 54, 688 43, 957 2, 514 8,217 3,077 83, 991 47, 134 37, 867 2,622 6, 645 36, 857 45, 684 42, 092 33, 323 2,432 6,337 3,592 48, 002 47, 182 38, 036 2, 669 6,477 820 51,607 50, 491 40, 370 2,995 7,126 1,116 43, 180 42, 187 35, 580 2,489 4,118 993 34, 989 32, 681 27, 781 1,766 3,134 2,308 27, 807 26, 782 21, 224 1,700 3,858 1,025 37, 666 34, 547 28, 374 2,386 3,787 3,119 45, 670 43, 157 34, 972 3,017 5,168 2,513 57. 887 49, 795 40,111 3, 459 6,225 8,092 ' 119. 6 '148.6 '151.4 '157.4 '117.8 117.7 140.4 155.0 129.8 109.9 121.2 146.9 158.2 132.8 136.8 179.4 178. 2 233.5 112.1 122.6 98.2 127.0 127.7 124.5 130.4 106.9 138.1 137.5 143.3 128. 7 114.1 149.9 155. 6 153. 5 120.2 94.4 117.8 121.8 110.0 120.9 76.5 96.6 97.6 100.3 84.6 61.3 77.0 75. 3 80. 5 75.5 82.1 91.8 99.7 80.8 87.8 '100.9 r !07.5 '126.2 '81.4 r 97.4 126.5 136.8 161. 5 107.6 111.0 234.8 357 236.2 237.1 237.4 373 237.4 237.6 238.5 374 239.5 239.0 239.1 374 240.9 ' 240. 7 241.4 374 525 550 542 485 512 376 527 556 544 488 612 376 528 557 545 490 512 378 531 557 545 490 529 379 535 557 545 495 530 379 535 561 545 495 530 378 536 561 546 495 532 377 538 562 548 495 532 379 538 562 548 494 532 378 539 573 548 494 533 380 542 581 549 497 535 380 543 581 550 497 535 378 544 582 551 498 537 378 230. 5 232.6 243.3 230.7 232.8 243.6 232.6 234.3 245.0 233.2 234.6 244.9 233. 4 234.6 244.2 233. 5 234.8 244.4 234.2 235. 6 245.7 235.1 236.4 246.8 235.1 236.4 246.9 235. 9 237. 2 246.9 237.0 237. 9 248.0 236. 7 237 4 247.8 237.2 237 7 248 0 232.1 232. 6 238.7 247.7 218.4 232. 2 232.7 238. 9 248.0 218.5 234.5 234. 5 240.4 249.0 219.7 235.0 234. 9 240.5 248.7 220.2 235.4 235.1 240.2 247.7 220.5 235.5 235. 2 240.4 248.0 220.5 236.1 235. 8 241.5 249.7 221.0 236.8 236.5 242.5 251.1 221.5 236.9 236. 5 242.5 251.1 221.5 237.7 237.0 242.7 250.5 221.9 239.2 238. 0 243. 8 251.9 222.6 239 0 237. 9 243.7 251 5 222.4 239 238 244 251 222 243.7 242.3 243.8 242.5 245.1 243.6 245 1 243.4 244 6 242.5 244 8 242.8 246 1 244.3 247 3 245 6 247 3 245 7 247 3 245 4 248 5 246. 5 248 3 246 2 248 5 246 2 398.8 538. 7 401.1 542.9 400.8 542.7 400.4 542.4 400.1 542.8 399.9 542.6 403 4 546.5 404 5 547 2 405 6 547.7 405 6 547 8 406.1 549.3 407 2 550 6 407 8 554 1 CONSTRUCTION COST INDEXES Department of Commerce composite 1939=100.. Aberthaw (industrial building) 1914—100 American Appraisal Co.: Average 30 cities 1913=100 Atlanta do New York do San Francisco - do St Louis do Associated General Contractors (all types), do E. H. Boeckh and Associates, Inc.: Average, 20 cities: Apartments, hotels, and office buildings: Brick and concrete.. U. S. avg. 1926-29=100.. Brick and steel do Brick and wood do__ . Commercial and factory buildings: Brick and concrete do Brick and steel . .do Brick and wood do Frame do Steel do ... Residences: Brick do Frame ._ _ _ do Engineering News-Record:^ Building - . 1913=100 Construction . do _ _ Bu. of Public Roads— Highway construction: Composite standard mile 1925-29=100. 159.7 161.8 164.8 166 7 7 3 0 5 7 169 1 CONSTRUCTION MATERIALS Production of selected construction materials, index: Unadjusted 1939—100 Adjusted do 168. 6 178.4 169.5 170.5 180.9 171.0 175 4 163.9 156 7 147.3 176 4 155 8 163 5 152 1 178 0 160 6 157 3 158 7 134 6 152 3 140 2 164 2 P J40 g p 170 4 REAL ESTATE Home mortgages insured or guaranteed byFed. Hous. Adm.: New premium paying 161, 584 164, 669 thous. of dol._ 180, 081 146, 237 145, 738 131, 485 153,744 144, 596 140, 528 159, 063 124,701 125, 363 123, 807 291, 906 293, 236 298, 950 275, 375 Vet. Adm.: Principal amount _. _ do 283, 195 324, 238 279, 167 296, 748 308, 639 301, 276 267 958 242 103 235 651 Federal Home Loan Banks, outstanding advances 752 to member institutions mil. of dol__ 762 774 816 770 752 747 760 781 665 806 612 589 New mortgage loans of all savings and loan associa440, 210 437, 967 475, 383 473, 885 439, 615 tions, estimated total thous of dol 486, 435 439 398 486 999 430 482 400 443 404 033 427 835 514 098 By purpose of loan: 141, 496 140, 567 153, 678 149, 225 132, 330 Home construction do 149 788 139 951 154 763 128 665 125 287 115 168 131 487 171 907 190, 539 193, 359 213, 666 219, 331 207, 123 224 819 Home purchase - do 200, 025 202 159 220 506 182 710 183 733 185 Q20 213 723 40, 879 39, 685 37 906 38, 687 38, 289 Refinancing _ . _ - _ _ _ do 37,613 42, 184 36, 551 42 794 37 920 37' 322 43 397 49 104 16, 285 16, 948 Repairs and reconditioning do 18, 870 18, 107 17, 831 1 Q QP;Q 18 917 17 571 18 558 14 78^ 12 895 15 033 15 567 50, 348 48, 071 All other purposes ^ do_ 50, 482 48 933 45* 81Q 48 fifl^ 44 718 50 727 45 300 46 953 50 378 New nonfarm mortgages recorded ($20.000 and under), estimated total thous. of dol.. 1, 369, 284 1, 370, 848 1, 443, 538 1, 422, 262 1, 370, 201 1, 448, 967 1,308,421 1, 483, 786 1, 366, 073 1, 308, 151 1, 298, 254 1, 270, 908 1,393,317 12.1 11.2 11.3 Nonfarm foreclosures, adjusted index J 935-39 =100. _ 11.0 11.2 12.0 11.6 10.8 11.0 11.1 71, 507 Fire losses __ _ _ . .thous. of dol. 62, 965 58, 744 52, 220 56, 403 55 416 53 398 54 660 60 064 74 155 69 925 68 206 72 254 DOMESTIC TRADE ADVERTISING Advertising indexes, adjusted: Printers' Ink, combined index 1935-39=100.Magazines ._ do Newspapers . do .. Outdoor do Radio do Tide advertising index do... Radio advertising: Cost of facilities, total thous. of dol Automotive, incl. accessories. do Drugs and toiletries _ do Electric household equipment do Financial _ _ _ _ . do Foods, soft drinks, confectionery do_ Gasoline and oil . do Soap, cleansers, etc - do Smoking materials do AH others do 377 343 296 327 280 324.2 393 338 337 340 286 332.9 394 355 324 323 286 328.4 385 350 303 331 283 328.9 410 368 314 319 279 294.7 418 376 319 340 269 318.9 411 379 304 314 230 327.0 429 403 307 341 257 315.2 427 347 317 347 258 316 7 435 357 304 352 253 272 5 453 379 293 346 244 337 6 '447 369 304 438 071 onn 401 OKO 334 3 •10 Kf«l 16, 419 15, 906 16 577 14 853 14. fil Q r 14 ^90 11 731 11 789 11 849 14 948 14 377 378 385 379 303 227 299 256 377 339 407 464 276 r 3 QQ3 4,452 4,535 4,829 4,375 3 124 3 060 3 085 3 991 3 699 3 751 3 691 144 139 147 129 147 994 9H4. 137 143 153 266 274 qoc OfcO 303 276 288 294 269 298 278 307 315 359 r 3 Q17 4,669 4,428 4,592 3,940 3 263 3 310 3 240 4 170 4 127 3 792 4 090 ei 9 47K 549 465 479 454 447 432 440 402 459 445 i 409 r 1 CQ9 1 409 1,647 1,659 1,785 1 649 1 073 1 204 1 275 1 631 1 546 1 CQrv r J 779 1,958 1,901 1,914 1,831 1 375 1 331 1 269 1 855 1 841 1 794 2,308 2,130 rl 7S1 2.162 1.878 1. 832 1.747 1 848 1 8Q2 1 7Q3 9 109 1 79fi O 1AK ' Revised. * Preliminary. * Data for April 1952, 108,000. t Revised series. Indexes reflect use of newbase period; revisions prior to February 1951 will be published later. cfData reported at the beginning of each month are shown here for the previous month. SURVEY OF CURRENT BUSINESS S-8 Unless otherwise stated, statistics through 1950 and descriptive notes are shown in the 1951 Statistical Supplement to the Survey May 195: 1951 March April May June July 1952 August September October November December January February March DOMESTIC TRADE—Continued A D VERTI SING— Continued Magazine advertising^ Cost, total thous. of dol_Apparel and accessories do Automotive, incl. accessories do Building materials do Dru^s and toiletries do Foods, soft drinks, confectionery do Beer wine liquors do _ Linage, total 52, 458 5, 341 3,613 r 2, 445 ' 6, 262 7, 767 2,464 55, 993 5,007 3, 956 3,063 6, 582 7, 391 2,752 52, 737 4,623 3,835 2,933 5,845 6,628 2, 695 47, 445 3,187 3,828 2 505 6, 217 6,378 2,541 34, 694 879 3,308 1 483 5 459 5, 838 2 354 35, 961 3 484 3 400 1 395 4 568 5,274 1 952 54, 268 6 681 4 154 3 136 6 024 6,617 2 451 61,987 5 635 4 587 2 962 6 963 8,929 3 118 55, 520 4 232 3 635 1 937 6 674 7,881 3 254 46, 113 3 333 2,985 865 5 698 6,247 4 443 31, 904 1 673 2 476 l' 908 4 543 4,692 1 590 44, 629 9 108 2 878 1 919 6 107 7,147 2 290 60, 247 5 420 (') 3 054 7 065 7, 854 2 851 ' 3, 528 ' 2, 695 ' 2, 708 1,289 ' 1, 272 r 13, 074 4,072 3,581 3, 150 1, 762 1.324 13,353 3,949 3,477 2,735 1, 525 1.381 13, 111 3,652 2,201 3. 320 1, 518 1,661 10, 436 1,654 840 2,234 942 1 478 8 236 1,668 1 007 2 310 956 1 138 8,808 3,952 3 368 3 240 1, 185 1 341 12, 119 4,713 4 302 3,704 1,612 1,235 14, 229 3,839 3 506 3,309 1, 361 1, 170 14, 722 3,136 2,099 2,891 854 1,532 12, 028 762 1 176 2 372 736 1 088 9 588 2,167 1 521 2 887 971 1 209 12, 424 3,970 2 709 3 769 1,356 1 357 1 20 843 _ _ thous. of lines. _ 4,464 4,531 3,926 3,221 3 260 3,934 4,845 4,849 4,129 3,346 3 466 3 985 4 855 _._ do do do do .. do do -do 218, 341 49, 358 168, 984 8,710 2, 724 33, 886 123, 664 226, 647 52, 165 174,482 ' 10, 158 2,627 38, 078 123, 619 226, 207 53, 766 172, 441 11, 509 2,455 36, 120 122, 357 202. 047 49,861 152, 186 10,814 2,214 30, 166 108,992 178, 389 48 762 129 627 9 807 2 846 23 690 93, 284 192, 528 50 887 141, 640 9,574 1 852 23, 364 106. 851 211, 499 51 465 160, 033 7,889 2 234 30, 318 119, 592 228, 673 51, 844 176, 829 9,811 2 732 37, 983 126, 303 230, 083 47, 780 182, 304 9,519 2,417 34, 510 135, 858 214,041 42, 998 171,043 6, 559 2, 526 25, 044 136, 915 178 077 46 345 131 731 8 208 3 663 21 020 98, 840 184 640 46 621 138' 019 7' 889 2 28? 25 749 102, 100 213 228 52 943 160 285 8 553 2 756 30 203 118, 773 7,183 128, 681 6,756 122, 605 7,731 121.273 6,238 116 606 6.485 118,392 6,333 114, 593 7,168 126, 545 6,878 121, 892 7,271 124,214 7,268 130, 038 6,948 124 086 8,025 147 902 Household equipment and supplies Household furnishings Industrial materials Soans, cleansers, etc _ _ __ . Smoking materials All other _ _ Newspaper advertising: Lin ace, total (52 cities) Classified Display, total Automotive __ Financial General Retail r _ do do do __ do ._. do do r T POSTAL BUSINESS Money orders, issued (50 cities) : Domestic: Number Value 5, 536 thousands. . 124, 277 thous. of doL PERSONAL CONSUMPTION EXPENDITURES Seasonally adjusted quarterly totals at annual rates: Goods and services, total bil. of dol Durable goods, total Automobiles and parts Furniture and household equipment Other durable goods Nondurable goods, total Clothing and shoes Food and alcoholic beverages Gasoline and oil Semidurable housefurnishings Tobacco . . Other nondurable goods Services Household operation Housing Personal services Recreation Transportation Other services 208.8 202.4 204. 0 206 7 209 6 31.3 12.4 14.6 4.3 25.9 10.8 11.0 4.0 25 2 9.7 11.4 4 1 25 0 9 4 11.4 4 2 25 9 11 4 do do -do do do do do 112.1 20.4 67.4 5.5 2.4 4.6 11.8 110.1 19.5 67.1 5.5 2.0 4.6 11.3 111 5 19.7 67.9 5.5 2.1 4.7 11.6 113 6 20.2 69.1 56 2.0 4.8 11 9 115 6 20 3 70 8 57 2 0 4 9 12 0 do do do do do do do 65.4 10.1 20.9 3.9 3.9 5 5 21.0 66.5 10.2 21.3 4 0 3.9 5 7 21.3 67.3 10 1 21 7 4 0 4 1 5 7 21 6 68. 1 10 2 22.2 4 1 3 9 58 21 9 69 10 22 4 3 5 22 do do . do do o 5 2 3 0 4 5 2 9 9 2 RETAIL TRADE All types of retail storesrf Estimated sales (unadjusted), total _ _ mil. of dol_. Durable-goods stores 9 do___ Automotive group,. ___do Motor- vehicle dealers . ._ _ do __ Parts and accessories do Building materials and hardware group 9 mil. of dol._ Lumber and building materials do Hardware do Homefurmshings group do Furniture and housefurnishings __do ._ Household appliances and radios do Jewelry stores. _. _ do Other durable-goods stores 9 _ do 12, 932 4,599 2,487 2,343 144 11, 898 4,316 2,227 2,092 134 12, 736 4,623 2,383 2,245 138 12, 660 4,520 2,343 2,202 140 11, 543 4,037 2,089 1,956 133 12, 508 4,409 2,287 2,144 143 12,410 4, 190 2,121 1,988 133 13, 190 4,451 2,142 2,000 142 12, 702 3,992 1,880 1,742 138 14, 632 4,106 1,765 1,611 154 11, 338 3,597 1 872 1 755 117 862 627 234 659 396 263 79 512 915 673 242 596 377 220 81 498 1,005 734 271 617 408 210 90 528 970 715 255 606 392 214 96 505 900 674 226 546 349 197 71 430 949 713 236 642 406 236 79 453 904 667 237 634 389 245 80 451 1,023 764 259 698 437 261 89 498 862 617 245 707 443 264 109 435 791 492 299 804 505 299 244 502 693 499 194 542 340 203 76 414 8,114 7,582 8,333 7,506 Nondurable-goods stores 9 do 8,140 8,099 8,220 8,739 8,709 10, 526 912 729 814 Apparel group do 792 588 648 899 945 1 295 820 154 188 176 Men's clothing and furnishings do 139 193 163 196 224 133 331 Women's apparel and accessories do 358 303 322 290 212 370 262 336 379 479 152 172 200 Family and other apparel do 125 163 138 176 199 312 216 165 120 144 Shoes.. _ do .147 111 145 127 114 135 174 349 365 Drugstores ..do 380 369 361 367 359 375 361 495 933 909 962 Eating and drinking places 9 .do 960 945 1,005 933 986 968 1,008 3,135 2,846 3.058 3,156 3,020 3,211 3,141 3,152 Food group 9 . . . _ do ... 3,160 3, 461 2,549 2,290 2,458 Grocery and combination do 2,561 2,584 2,410 2 546 2,516 2,550 2 831 585 556 Other food 9 . . _ . _ _ d o 600 594 610 628 614 602 625 630 714 727 677 678 Gasoline service stations do _ 720 718 713 734 699 737 2 517 1,458 1.323 1,448 1,413 1, 181 General-merchandise group do ___ 1,762 1,388 1 465 1 620 881 807 Department, including mail-order 9 -do 872 840 680 825 889 1,123 1,001 1,494 Variety do 236 190 211 216 197 216 216 236 246 478 341 326 Other general-merchandise stores do 366 358 304 347 361 382 393 54fi i Data for "automotive, incl. accessories" included with "all other". 'Revised. ^Unpublished revisions for January, February, March, and October 1950 and January and February 1951 are available upon request. {Revised series. Estimates of sales and inventories for all types of retail stores and data on sales of chain stores and mail-order houses have been revised in components were revised beginning 1935. For data for earlier periods (through 1947 for sales and 1950 for inventories) and appropriate explanations, see pp. 15-23 sales figures beginning 1948 have been further revised since the October SURVEY and are available upon request. 9 Revised beginning 1935. 7 741 728 184 279 158 108 360 939 3 058 2 467 591 659 1 168 713 172 282 »• r11, 181 3, 696 r 1 967 r 1 g50 117 ••703 r 503 r }99 r 548 r 333 '210 r r r 71 408 7 485 r 639 143 258 137 101 r 366 r 903 r 2 986 r 2 422 564 635 1 151 690 r Jg7 97S 12, 133 3 975 2 107 1 981 126 742 523 218 569 367 202 72 484 8 158 796 164 328 17*) 129 376 949 3 201 2 601 600 677 1 308 790 205 312 general back to 1940; some of the October 1951 SURVEY* SURVEY OF CURRENT BUSINESS May 1952 Unless otherwise stated, statistics through 1950 and descriptive notes are shown in the 1951 Statistical Supplement to the Survey S-9 1952 1951 March April May June July August September October November December January 958 347 611 843 226 618 1,062 372 691 829 206 624 551 189 144 014 130 863 624 239 631 3P9 232 92 459 12 492 4, 036 2 007 1 874 133 820 580 240 656 410 246 100 453 12 318 3 918 1 930 1 801 129 805 568 237 625 405 220 95 463 February March DOMESTIC TRADE—Continued RETAIL TRADE— Continued All types of retail stores f— Continued Estimated sales (unadjusted), total— Continued Nondurable-goods stores 9— Continued Other nondurable-goods stores 9 - - .mil. of dol. LiQUor do Allother9 .. ___ do._ Estimated sales (adjusted), total _ do Durable-goods stores 9 ...do.. Automotive group do Motor-vehicle dealers do Parts and accessories do_. . Buildingmaterialsandhardwaregroup9do Lumber and building materials do Hardware . do__ Homef urnishings group do Furniture and housef urnishings do Household appliances and radios do Jewelry stores _ _ _ _ _ do Other durable-goods stores 9 -do Nondurable-goods stores 9 A pnarel group Men's clothing and' furnishings Women's apparel and accessories Family and other apparel Shoes Drug stores Eating and drinking places 9 __ _ _. _ do do. do do do_ do do do_. Food group 9 do___ Grocery and combination do Other food 9 do Gasoline service stations _ do General-merchandise group 9 do Department, including mail-order 9 --do Variety ___ _ _•.__ do Other general-merchandise stores do Other nondurable-goods stores 9 do JAfiuoT . do All other 9 - do_. Estimated inventories:! Unadjusted total do Durable-goods stores do Nondurable-goods stores _ do Adjusted total do Durable-goods stores do_ Automotive group do Building materials and hardware group mil. of dol._ Homefurnishings group do Jewelry stores do Other durable-goods stores do Nondurable-goods stores . Apparel group Drug stores Food group _ General-merchandise group Other nondurable-goods stores do.. do do do do do. . Chain stores and mail-order housesrf d* Sales, estimated, total . . do Apparel group do Men's wear _ do Women's wear do Shoes _ _ do Automotive parts and accessories do Building materials do Drug stores _ do Eating and drinking places do Furniture and housef urnishings do_ General-merchandise group do Department, dry goods, and general merchandise mil. of dol__ Mail-order (catalog sales) do Variety do Grocery and combination do Indexes of sales:f c?1 Unadjusted, combined index 1935-39=100__ Adjusted, combined index. . . . _ _do Apparel group do Men's wear do _ Women's wear _ _ do Shoes _ _ ...do _ Automotive parts and accessories do Building materials _ _ . _ do Drug stores do Eating and drinking places do Furniture and housefurnishings _ do General-merchandise group. do__ Department, dry goods, and general merchandise __. . . 1935-39=100 Mail-order do Variety do Grocery and combination. do f Revised. t Revised series; see note marked "t" on p. S-8. 838 220 618 749 195 554 752 204 548 732 210 522 692 186 506 746 200 547 731 211 520 12, 633 4,590 2, 353 2.197 156 958 702 256 690 415 275 103 486 12, 285 4, 276 2, 136 1,998 138 929 691 238 635 395 240 103 473 12, 411 4,272 2,213 2,085 128 897 658 239 582 369 213 96 484 12, 240 4,186 2 170 2,048 122 874 641 233 586 370 216 94 462 12, 058 3,967 1 983 1,863 120 872 647 225 586 381 205 94 432 12, 429 4,133 2, 125 2,000 125 852 621 231 624 396 228 91 441 12 258 4, 138 2 HI 1 975 136 832 593 239 630 388 242 93 472 8,043 775 170 298 177 130 382 958 8,009 788 178 311 175 124 365 925 8,139 826 185 321 182 138 368 958 8 054 785 174 311 170 130 371 950 8 091 818 199 308 176 135 369 929 8,296 819 196 314 175 134 373 944 8 120 776 168 314 166 128 369 944 8 362 819 184 326 177 132 374 947 8,456 844 191 335 186 132 372 955 8 400 822 178 332 184 128 386 933 3,014 2,436 578 714 1,421 850 223 348 779 219 560 3,000 2,419 581 694 1,448 878 224 346 789 219 570 3,059 2 458 601 680 1 476 879 234 363 772 221 551 3,0*5 2 464 581 690 1 452 880 227 345 761 220 541 3,067 2 456 611 663 1 470 903 238 329 775 554 3,164 2 555 609 682 1, 533 922 246 365 781 227 554 3 087 2 493 594 684 1 485 901 232 352 775 221 554 3,078 2 471 607 705 1 486 885 237 364 953 347 606 3.183 2,586 597 714 1,545 941 232 372 843 208 635 3 187 2 595 592 719 1 531 917 233 384 819 212 607 20, 757 9,760 10, 997 19, 743 9,197 2,849 20, 837 9,990 10, 847 20, 346 9,598 3,151 20 570 9 870 10, 700 20 643 9,684 3 239 19 718 9 583 10, 135 20 282 9 562 3 141 18 777 9 072 9' 705 20 045 9 494 3 058 18 715 8,638 10,077 19 429 9,154 2 921 882 465 417 761 693 717 19 383 8 637 10 746 18 545 8 679 2 744 19, 657 8, 578 11,079 18, 280 8, 385 2 700 2,364 1,950 651 1,383 2,347 1,989 668 1,443 2,367 1 977 639 1,438 2,436 1 940 632 1,428 2,393 1,828 635 1,377 2,303 1 770 ' 596 1 307 2,399 1 664 567 1 305 2, 236 1 618 570 1,261 2,172 1 588 609 1 236 2,284 1 554 594 1 233 10, 546 2,239 711 2,156 3,484 1,956 10, 748 2,356 719 2,080 3,613 1,980 10, 959 2 498 723 2,072 3 625 2,041 10, 720 2 586 704 1,994 3 446 1,990 10, 551 2 588 710 1,909 3 423 1 921 10, 275 2 475 702 1,873 3 327 1,898 10 068 2 386 699 1 941 3 193 1*849 9 866 2 209 712 1 929 3 056 1 870 9,895 2 282 684 2 002 2 977 1 950 9 875 2 244 670 2 096 2 950 1 915 9 864 2 206 680 1 953 3 114 1 911 2,863 276 32 113 78 43 82 76 63 44 785 2, 564 201 24 84 54 40 94 69 62 40 718 2 797 240 27 100 68 44 103 71 65 45 798 2 840 237 28 94 70 51 102 73 63 45 803 2 526 175 19 72 51 49 98 73 65 39 692 2 754 186 18 80 53 55 103 74 67 47 812 2 810 237 25 99 68 47 105 72 64 47 831 3 008 246 31 104 62 49 120 3 819 366 51 150 90 69 72 66 55 905 3 007 251 35 105 60 47 95 73 63 56 957 473 102 195 1,023 452 93 158 903 511 96 175 973 438 76 163 906 516 101 179 954 536 100 179 956 567 125 196 970 359.3 368.3 290.5 179.2 321. 1 232.5 270.1 369.6 251 8 266 7 431.9 393.9 355.9 362. 2 274 5 193.8 307 5 195.4 242.7 369.6 241 2 264 9 409 5 383.4 372.1 370 7 304 6 200 1 331 3 239 6 231.4 351 3 239 2 276 8 399 9 399 7 367.4 368 3 292 8 194 3 323 8 223 5 253.3 335 6 247 6 271 6 417 5 388 4 345.2 372 3 301 5 228 2 324 4 226 3 235.8 343 7 247 3 278 8 397 3 402 8 358.5 381 5 303 5 215 3 328 3 234 9 265.1 331 5 249 7 277 8 404 8 417 4 382.7 373 3 293 4 183 0 331 9 226 8 272.4 321 2 251 4 273 7 423 6 392 2 393.5 382 3 302 1 201 6 341 2 228 0 265.5 334 9 276 2 456 2 399 0 559.5 281 7 247.2 423.8 535.8 280 9 248.1 427.5 558 1 292 3 260 0 434.5 540 7 286 6 252 3 440.8 560 9 295 6 264 2 439. 1 590 6 283 7 272 4 551 0 273 2 257 2 556 6 283 8 263 5 2,349 1 985 655 1,456 9 Revised beginning 1935. 517 90 179 1 017 991 455 ft 18 8 10 18 8 2 447 8 12 4 2 2 9 cq I 44S Q 17 7 9 18 8 2 300 939 361 093 218 613 r 805 851 213 638 r 205 600 r 12 862 4 390 2 058 156 '930 ••671 259 r 648 '408 r 240 '97 r 501 12 398 4 080 2 011 1 86G 145 866 615 251 624 403 222 98 481 8 500 863 197 339 194 134 378 980 '8r 472 831 192 327 r 178 134 390 1,014 8 317 806 180 308 185 133 382 977 3 235 2 619 616 721 1 490 910 235 345 833 226 fififi T 12 4 2 1 17 8 9 18 8 2 650 150 023 878 146 880 631 249 649 417 233 103 494 414 007 407 061 197 532 r r 2 214 r 3, 191 r 2 578 613 729 r 1 486 '896 r 237 354 r 83Q r 232 598 r 17 884 r 8 127 T 9, 757 r 17 975 r 8 160 r 2 483 r 2, 372 r 1 498 r 580 r 1, 227 r 9, 815 r 2 232 r 697 T 2 006 r 2 988 3 171 2 563 608 717 1 442 878 225 338 822 219 f>AO 18 8 10 17 8 669 490 179 833 108 o rnt 2, 263 1 453 582 1 219 9 725 2 IRQ 694 2 041 r 1 892 9 Q7ft 1 89°. 2 458 173 24 70 44 r 2 441 r 168 2 71ft 70 70 64 39 594 r 72 r 75 68 71 1 386 r 3g r 605 585 152 203 992 820 152 393 1 111 348 90 143 972 r 155 r 963 410.1 384 2 312 8 215 5 351 1 228 8 273.1 332 5 247 3 280 0 460 0 404 1 498.5 387 0 313 6 218 3 354 3 223 3 280.2 324 2 330.1 381 6 564 302 258 4SQ 8 0 1 n cfRevisions prior to August 1950 are available upon request. 1AK 94fi fi 20 71 44 38 OK '61 64 346 90 424 Ql ' 339. 8 r 383 5 352.6 ono 9 r 3Q2 1 207 1 r 204 5 r 335 8 r 228 3 r 299. 2 r 370 7 °,49 4 220 7 276.6 322 5 9 CO A 97 K -I 981 7 T 9oa '1 478 4 405 7 r 432 3 r 407 8 564 1 296 1 256 8 569 7 r 9Q4 fi 4fifi 9 4« 4 268.2 r 9AA Q 466 3 402 3 261 1 9A QO 572 7 KX.I q 9QO 0 r 9fiQ A r A.AQ 9 AX.f\ *r s-io SURVEY OF CURRENT BUSINESS Unless otherwise stated, statistics through 1950 and descriptive notes are shown in the 1951 Statistical Supplement to the Survey May 1952 1952 1951 March April May July June August September October November December January February March DOMESTIC TRADE—Continued RETAIL TRADE— Continued Department stores: Accounts receivable, end of month: f Charge accounts 1947-49 = 100. _ Instalment accounts _ do_ Ratio of collections to accounts receivable: Charcre accounts percent Instalment accounts do Sales by type of payment: Cash sales percent of total sales. _ Charsre account sales do Instalment sales _ do_ Sales, unadjusted, total U. S.f Atlanta Boston Chicago Cleveland Dallas Kansas City Minneapolis New York Philadelphia Richmond St Louis San Francisco _ 120 194 116 186 118 178 115 171 103 163 103 162 113 166 122 172 136 182 177 197 142 190 124 ' 182 118 178 50 19 47 18 49 18 49 19 46 18 48 19 47 19 50 21 50 21 45 19 47 19 45 18 48 20 48 43 9 48 43 9 48 44 8 50 42 8 50 41 9 48 41 11 47 43 10 46 43 11 47 43 10 49 42 9 48 42 10 48 42 10 48 42 10 1047-49^=100.. _. do. __ do do ___do do do do do do do do do 98 115 93 '97 99 108 101 84 95 105 100 94 94 99 101 95 99 103 106 100 100 96 99 100 96 95 103 103 101 105 106 109 104 101 98 105 109 102 98 99 97 98 99 100 100 97 94 105 99 103 90 97 84 89 73 86 84 96 85 81 74 76 86 85 93 93 99 82 94 94 104 102 97 80 83 95 95 101 112 116 110 114 114 124 119 112 106 112 118 111 108 112 116 105 111 115 119 117 118 108 114 121 111 107 134 138 129 132 140 144 131 120 131 144 145 130 125 183 203 188 175 181 203 185 166 179 185 192 168 189 83 90 81 81 87 95 86 72 80 81 80 81 83 83 93 75 81 83 93 r 85 83 82 82 83 80 r S6 p92 p 108 p87 p89 p 95 105 p 93 80 86 97 p 96 90 p90 _ _ _ d o ... ...do do . do _ . do do __ - d o _ _ _ do - do _ _ do do .- do do 105 113 102 107 104 112 110 r 94 103 109 105 99 102 104 105 98 104 108 112 103 101 102 105 111 98 102 104 107 100 105 104 111 104 100 100 104 110 98 104 105 114 98 101 106 113 104 98 108 103 110 98 103 105 111 106 101 107 114 104 101 103 105 105 104 108 109 110 108 107 108 115 111 109 106 111 121 106 106 107 lit 100 106 108 115 112 101 101 107 109 105 108 108 111 103 109 112 114 110 104 103 108 114 105 106 112 121 106 110 114 129 116 107 104 109 118 109 114 109 121 106 109 109 122 113 104 103 105 109 107 110 108 118 102 106 115 122 115 96 100 110 114 111 105 !06 111 100 105 10R 115 r 106 113 100 110 109 100 r 103 do .do__ _ 139 133 145 138 139 136 129 136 127 138 129 134 132 128 135 121 133 117 107 119 106 118 113 116 p 120 P 114 thous. of dol.._ do do 310, 175 95, 107 215, 068 311,771 95, 175 216, 596 328, 424 100, 408 228, 017 322, 649 92,911 229, 738 273, 067 79, 657 193, 410 328, 568 98, 508 230, 060 338, 278 100, 873 237, 405 374, 319 117,371 256, 949 398, 865 121,494 277, 371 477, 842 146, 189 331,653 248, 926 63,912 185, 014 246, 182 67 879 178, 303 279, 095 79, 273 199, 822 1935-39=100.. -do ...do ... do do -do do - _ ..-do do _.do 291. 5 279.4 323.5 275.8 312.0 307.8 279.4 340.5 290. 3 346.7 287.6 269. 5 304.0 270.9 325.5 300.5 271.1 331.2 277.6 348.1 285.3 261.3 293.3 276. 6 317.8 318.1 291.0 353. 8 312.2 354.7 287.0 265. 9 304.2 271.1 349.2 323. 6 306. 3 371. 4 296.0 385.9 242. 6 216. 1 263. 3 228.5 307.1 329.2 323.5 376.7 305.9 376.3 294.9 261. 8 301.7 281.3 366. 1 321.6 298.5 336.0 303.8 375.5 334. 1 285. 1 369. 0 316. 1 394.4 302.1 274.9 324.3 293.8 344.8 362.0 325.6 418.0 340.7 403. 8 302.7 271.3 327. 1 290.0 359.3 439.3 445.9 500. 6 411.6 456. 1 339. 0 319.2 365.9 313.2 363.7 499. 6 453. 7 534. 4 468.5 606.5 340.8 314.0 386.4 315.7 386.8 248.5 228.4 273.8 236. 3 276.8 328. 3 301.3 342.2 315.1 376.1 263. 3 242.7 296.1 240.0 284.7 314.6 292.4 340. 3 300.0 381.1 276.3 271.1 306. 1 257 9 301.4 304. 6 273.3 324.9 276.7 337.1 8,820 3, 087 5, 733 10, 122 4, 601 5,461 8,078 2,888 5, 190 10, 187 4, 875 5, 312 8,483 2, 858 5,625 10, 235 5, 032 5,203 8,265 2,736 5, 529 10, 005 5,034 4,971 7,980 2, 508 5,472 10, 097 5,019 5,078 9,124 2,889 6,235 9,987 4,867 5,120 8,925 2,836 6,089 10, 059 4,792 5,267 10, 129 3,103 7,026 10,116 4,723 5,393 9,795 2,812 6,983 10, 077 4, 650 5,427 9,237 2,516 6,721 9,861 4,606 5,255 8,681 2,375 6, 306 r 10, Oil 4, 823 r 5, 188 8,209 2, 465 5,744 9,861 4,800 5,061 8 049 2, 536 5, 513 9,942 4,918 5 024 Sales adjusted, total U. S.f Atlanta . "Poston Chicago Cleveland Dallas Kansas City _ . Minneapolis New York Philadelphia _. Richmond St Louis San Francisco Stocks, total TJ. S., end of month:f Unadjusted Adjusted Mail-order and store sales: Total sales, 2 companies Montgomery Ward & Co Sears Roebuck & Co Rural sales of general merchandise: Total U. S., unadjusted East South Middle West Far West Total IT. S., adjusted East South _ Middle West Far West T r r r p p p p P 105 113 104 104 106 115 P 105 94 98 109 P 114 100 p 10? WHOLESALE TRADE* Sales estimated (unadj ) total mil. Durable-goods establishments Nondurable-goods establishments Inventories estimated (unadj. ), total. _ Durable-goods establishments Nondurable-goods establishments of dol do do do do do f r EMPLOYMENT AND POPULATION POPULATION Population, continental United States: Total, incl. armed forces overseas thousands__ 153, 490 153, 699 153, 900 154, 122 154, 353 154, 595 154, 853 155, 107 155, 356 155, 575 155, 783 155, 997 156, 197 108, 964 52, 108 56, 856 108, 879 51, 980 56, 899 108, 832 51, 883 56, 949 108, 836 51,834 57, 002 108, 856 51, 798 57, 058 108, 896 51, 778 57, 118 108, 956 51,780 57, 176 109, 064 51, 826 57, 238 109, 122 51,824 57, 298 109, 200 51,844 57, 356 109, 260 51, 852 57, 408 109, 274 51, 810 57, 464 109, 274 51 758 57, 516 do do do 62. 325 43, 379 18, 946 61, 789 43, 182 18, 607 62, 803 43, 508 19, 294 63, 783 44, 316 19, 487 64, 382 44, 602 19, 780 64, 208 44, 720 19, 488 63, 186 43, 672 19,514 63, 452 43, 522 19, 930 63, 164 43, 346 19, 818 62, 688 43,114 19, 574 61, 780 42, 864 18, 916 61 838 42, 858 18, 980 61 518 42' 810 18 708 do. _ do ._ do . 60, 179 42. 102 18, 077 60, 044 42, 154 17, 890 61, 193 42, 558 18, 635 61,803 43, 149 18, 654 62, 526 43, 504 19, 022 62, 630 43, 764 18, 866 61,580 42, 830 18, 750 61, 836 42, 632 19, 204 61, 336 42, 344 18, 992 61, 014 42, 106 18, 908 59, 726 41 480 18, 246 59. 752 41 482 18, 270 59, 714 41 586 18 128 6,393 53, 785 2,147 6,645 53, 400 1,744 7,440 53, 753 1,609 8.035 53, 768 1,980 7,908 54, 618 1,856 7,688 54, 942 1,578 7,526 54, 054 1.606 7,668 54, 168 1,616 7,022 54, 314 1,828 6,378 54, 636 1 674 6,186 53, 540 2 054 6 064 53, 688 2 086 6 012 53, 702 1 804 EMPLOYMENT Employment status of civilian noninstitutional population: Estimated number 14 years of age and over, total _ thousands.. Male do Female _ _ . do Civilian labor force, total Male Female Employed Male Female A gri cultural employment Nonagricultural employment Unemployed do __ do . do Not in labor force. _do 46. 638 47. 092 46. 029 44, 474 45. 053 44. 688 45. 770 45. 612 45. 958 46.512 47. 480 47. 436 47 756 Revised. » Preliminary. fReyised series. Data have been revised to reflect use of new base period and to incorporate other major changes. Revisions back to 1941 for accounts receivable and back to 1919 for sales by districts and for stocks will be shown later; revisions (1919-50) for total U. S. sales are shown on p. 32 of the February 1952 SURVEY. *Data on total wholesale trade have been substituted for the series on service and limited-function wholesalers. Figures through 1950 appear on pp. 23 and 24 of the October 1951 SURVEY. r SURVEY OF CURRENT BUSINESS May 1952 Unless otherwise stated, statistics through 1950 and descriptive notes are shown in the 1951 Statistical Supplement to the Survey S-ll 1952 1951 March April May June July August September October November December January February March EMPLOYMENT AND POPULATION—Continued EMPLOYMENT—Continued Employees in nonagricultural establishments: Total, unadjusted (U. S. Dept. of Labor) thousandsManufacturing do Durable-poods industries do Nondurable-goods industries do_ _ Mining, total _ do _ Metal do Anthracite do Bituminous coal _ _ __ _ do Crude-petroleum and natural-gas production thousand s__ Nonmetallic mining and quarrying do_ __ Contract construction do Transportation and public utilities do Interstate railroads _ _ do __ Local railways and bus lines do _ Telephone do Telegraph _ _ do Gas and electric utilities do 45, 850 16, 022 8, 969 7, 053 924 105 72 396 45. 998 15, 955 9, 003 6, 952 911 104 68 382 46, 226 15, 853 8,975 6, 878 915 103 70 377 46, 567 15, 956 8,998 6. 958 927 105 70 378 46, 432 15,813 8, 839 6,974 906 105 66 359 46, 724 16 008 8,878 7,130 250 100 2,326 4,112 1, 451 144 626 48 519 255 103 2,471 4,132 1,463 144 629 48 520 258 106 2,598 4,137 1,463 144 630 49 521 265 108 2,686 4,161 1,468 143 637 48 527 268 108 2,754 4, 176 1,468 141 648 49 534 270 110 2,809 Trade do Wholesale trade do Retail trade - do General -merchandise stores do Food and liquor stores __ _ do Automotive and accessories dealcrs—do Finance - - - do Service _ - - do_ Hotels and lodging places do Laundries -- do Cleaning and dveing plants do Government do 9,713 2,590 7, 123 1,512 1, 264 736 1,854 4, 682 435 351 150 6,217 9,627 2,579 7,048 1,453 1, 264 739 1, 865 4, 745 445 354 153 6,292 9,683 2,568 7, 115 1, 475 1,271 742 1,874 4,789 452 360 159 6,377 9,732 2, 581 7,151 1,458 1, 270 750 1,893 4, 835 478 365 161 6,377 Total, adjusted (Federal Reserve) do ATanufacturing _ do Mining _ _ _ __ , do Contract construction _ _ do __ Transportation and public utilities do Trade do Finance do Service, _ do Government __ _ _ do 46, 266 16, 058 930 2, 556 4,147 9, 762 1,854 4,729 6,230 46, 411 16, 102 914 2,574 4,153 9, 773 1, 856 4,745 6,294 46, 507 16, 081 916 2, 572 4,140 9,821 1,865 4,765 6,347 13, 189 7,428 29 13, 108 7,445 30 722 426 326 479 130 1,159 Production workers in manufacturing industries: Total (U. S. Dept. of Labor) thousands.. Durable-goods industries do Ordnance and accessories _ _ do Lumber and wood products (except furniture) thousands Sawmills and planing mills do Furniture and fixtures _ do Stone, clay and glass products do Glass and glass products do Primary metal industries do Blast furnaces, steel works, and rolling millst -- -thousands Primary smelting and refining of nonferrous metals thousands Fabricated metal prod, (except ordnance, machinery, transportation equipment) thousandsHeating apparatus (except electrical) and plumbers' supplies thousands Machinery (except electrical) _ do Klectrical machinery do Transportation equipment _ do Automobiles do Aircraft and parts do Ship and boat building and repairs do Railroad equipment do Instruments and related products do Miscellaneous mfg. industries do Nondurable-goods industries do Food and kindred products do Meat products do Dairy products _ _ do Canning and preserving __. do_ Bakery products __ _ - do Beverages _ do Tobacco manufactures do Textile-mill products do Broad-woven fabric mills do Knitting mills _ __ do Apparel and other finished textile products thousands Men's and bovs' suits and coats do Men's and boys' furnishings and work clothing thousands Women's outerwear do Paper and allied products __do Pulp, paper, and paperboard mills do Printing, publishing, and allied industries thousands. _ Newspapers do Commercial printing do f 922 105 68 370 46, 956 16 039 8,913 7,126 46, 902 15 965 8,942 7,023 46, 852 15, 890 8,976 6,914 ' 47, 663 '45,911 ' 45, 877 v 45, 873 ' 15 913 ' 15 777 ' 15, 836 p 15 784 ' 9, 000 ' 8, 950 ' 8, 990 p 8 958 ' 6, 827 ' 6, 846 v 6 826 6,913 909 '908 '916 »907 107 107 106 p 106 917 104 67 367 917 105 67 368 269 110 269 109 269 107 4,190 1,468 2 768 4,178 1,457 2,761 4, 166 1,440 2, 633 4, 165 1,428 141 649 48 529 141 653 47 528 9,667 2,594 7,073 1,407 1,268 756 1,908 4, 852 510 369 158 6,356 9,641 2,596 7, 045 1.399 1,260 757 1,914 4, 839 9,781 2,594 7,187 1, 487 1,274 754 1,898 4,831 10, 109 2, 657 7,452 1,701 1,295 759 1,907 4,734 6,401 473 362 157 6,544 9,893 2, 622 7,271 1,550 1,281 748 1,898 4,770 437 360 159 6,532 46, 626 16. 097 923 2, 558 4, 132 9,857 1,874 4,787 6,398 46, 602 16, 026 899 2,574 4, 134 9, 837 1,880 4, 780 6,472 ' 46, 555 15, 891 46, 465 15. 801 46, 415 15, 748 2,601 4,143 9,822 1,895 4,791 6,496 2, 587 4, 157 9,791 1,908 4,783 6,526 914 2,630 4, 173 9,770 1,917 4,746 6,517 46, 482 15, 701 12, 993 7,406 32 13, 064 7,409 34 12, 885 7,226 38 13, 069 7,261 13,087 7,279 44 12, 997 7,296 12, 904 7,314 41 47 50 12,911 r 7, 322 752 443 317 483 132 1,161 764 449 301 484 131 1,162 773 456 286 485 130 1,172 748 443 284 478 124 1,155 754 449 285 484 130 745 443 285 482 130 740 439 289 479 128 719 428 294 472 125 '696 '412 '296 '658 '390 '296 '669 P661 ' 296 ' 447 p 297 P 448 1,165 1,162 1,160 1,149 1,164 1,163 ' 1, 160 561 562 565 572 572 575 573 570 558 * 573 571 571 47 47 46 48 47 48 47 47 47 47 47 48 858 859 850 843 813 817 810 809 805 '806 '804 '805 134 1,231 724 1,253 793 299 96 54 218 429 133 1,239 718 1, 243 774 309 94 56 221 422 130 1,242 707 1, 233 752 318 95 58 222 409 128 1,252 704 1,237 738 333 98 59 223 400 123 1,235 684 1,187 684 347 101 122 1,209 121 1,219 120 1,242 120 1,255 1,205 1,234 ' 119 ' 1, 269 '726 ' 1, 235 '645 '407 '111 '115 ' 1, 275 '724 ' 1, 237 '635 114 ' 1, 280 '726 '1,243 47 221 383 57 224 388 60 226 388 5,761 1,096 233 99 125 190 147 78 1, 223 564 236 5,663 1,085 229 103 128 190 143 76 1,214 567 230 5,587 1,099 229 110 137 190 145 74 1,206 574 222 5,655 1,146 233 116 154 192 155 76 1,205 588 216 5,659 1,225 236 116 226 192 161 75 1,167 574 210 5,808 1,307 233 114 305 192 161 84 1,152 561 212 1,106 141 1,047 138 998 135 1,000 135 990 129 263 305 424 209 261 267 427 212 253 249 424 213 245 255 426 215 512 150 170 510 151 168 510 152 168 512 152 169 142 652 48 535 507 365 153 914 696 1,198 675 357 99 917 104 68 367 141 648 47 532 912 707 1,211 679 360 102 707 667 362 104 62 430 357 157 6,497 916 2,581 4, 169 9,827 1,926 4,758 6,544 718 655 395 111 63 67 369 67 368 '366 269 105 268 100 268 100 ' 2, 304 '4,110 1,390 •p 2 289 p 4, 108 ' r10, 660 2, 657 ' 8, 003 ' 2, 092 '1,316 768 '1,912 4,702 ' 9, 719 2,627 ' 7, 092 ' 1, 475 ' 1, 270 751 ' 1, 908 ' 4, 673 ' 9, 643 ' 2, 631 '7,012 '1,417 ' 1, 274 '745 1,919 4, 667 p 9, 647 •p 2 618 p 7,029 p 1 , 427 p 1 , 273 P740 p 1. 930 p 4, 680 141 654 47 527 426 356 ' 154 ' 6, 881 52 465 123 63 232 381 5,701 1,254 236 ' 5, 589 1,122 '252 546 209 5,590 1, 160 246 99 145 192 147 85 1,132 544 209 1,047 1,037 1,019 233 271 418 214 238 295 419 215 239 284 416 214 507 151 509 151 515 153 167 166 138 167 424 96 141 660 47 525 428 355 153 6,490 '357 ' 154 6,509 ' 12, 771 ' 12, 807 p 12, 754 ' 7, 267 ' 7, 292 p 7, 259 54 55 p 57 395 451 120 r 120 626 424 124 60 415 116 61 ' 5, 515 '1,060 244 p 5, 495 p 1,060 80 1,122 ?79 p 1 109 ' 1, 050 f 1,041 93 P231 P382 94 106 187 134 211 1,008 117 ' 1, 035 '123 ' 1, 027 ' 126 238 270 413 212 233 279 411 212 '235 '296 '410 '229 '300 212 404 211 '404 517 153 519 154 '520 155 '171 514 151 '171 511 152 170 p 1 , 268 P719 P 1, 239 ' 5, 504 ' 1, 067 246 82 ' 1,132 r 541 ' 208 169 ^803 '231 '380 '85 ' 1,141 ' 548 131 v 1,154 '232 '373 ' 106 146 p 6, 528 46, 572 p 46, 422 ' 15,854 p 1 5 809 '918 pQ14 ' 2, 589 p 2, 51 5 'r 4, 146 p 4, 144 9, 860 p 9, 840 1,929 p 1 930 4,738 p 4, 727 6,538 P 6, 543 '120 ' 190 Revised. v Preliminary. J Figures for 1939-46 on the revised basis for the indicated series, available since publication of the 1951 STATISTICAL SUPPLEMENT, will be shown later. 141 653 47 525 ' 46, 608 ' 46, 468 15,811 '15,831 916 '916 ' 2, 569 2, 537 '4,161 4,143 9,851 ' 9, 893 ' 1, 931 1,918 4,749 4,744 ' 6, 578 6,528 5,808 1,330 235 108 330 193 156 89 1, 136 551 205 139 •p 101 ' 2, 309 ' 4, 107 '1,394 230 388 89 1,133 ^363 ' 2, 518 ' 4, 161 ' 1,426 228 390 103 238 195 150 68 187 136 r 526 209 127 233 308 210 168 P403 "512 SURVEY OF CUEEENT BUSINESS S-12 Unless otherwise stated, statistics through 1950 and descriptive notes are shown in the 1951 Statistical Supplement to the Survey May 195 1952 1951 March April May June July August September October November December January February March EMPLOYMENT AND POPULATION—Continued EMPLOYMENT— Continued Production workers in mfg. industries— Continued Total (U. S. Dept. of Labor)— Continued Nondurable-goods industries— Continued Chemicals and allied products thousands. _ Industrial organic chemicals do_ __ Products of petroleum and coal do Petroleum refining do Kubber products __do Tires and inner tubes do Leather and leather products _do Footwear (except rubber) do Manufacturing production-worker employment index, unadjusted (U. S. Dept. of Labor) f 1947-49=100.. Manufacturing production-worker employment index, adjusted (Federal Reserve) f- 194 7-49= 100. _ Miscellaneous employment data: Federal and State highways, total§ number.. Construction (Federal and State) do Maintenance (State) _ _ do Federal civilian employees: United States thousands Washington, D. C., metropolitan area.. do Railway employees (class I steam railways): Total thousands__ Indexes: Unadjusted 1935-39= 100_ Adjusted ... do 539 167 192 149 220 88 371 237 538 168 194 150 219 87 353 225 531 170 194 151 220 88 331 210 528 172 198 154 220 90 344 222 526 172 198 154 217 90 336 215 531 174 198 154 218 92 343 221 543 175 197 154 218 92 327 208 544 172 197 154 215 90 320 201 542 173 197 154 219 95 317 198 538 171 196 155 219 'Q5 323 r 205 536 170 193 153 219 T 95 r 330 r 213 '537 168 193 153 216 95 342 221 106,6 106.0 105. 0 105.6 104.2 105.7 105. 8 105.1 104. 3 104.4 103.3 103. 5 * 103. 1 106.9 107.1 106.8 106.8 106.0 104.8 IGd. 9 103.4 103.3 103. 5 103. 7 103.7 p 103. 3 233, 036 67, 538 114,118 258, 291 92, 164 114,672 286, 236 115, 462 118, 484 315, 230 130,395 128, 859 323, 393 138, 673 128, 024 326, 930 140 248 129, 429 314, 679 135, 562 124, 067 303, 304 128 757 121, 524 273, 542 99 528 120 521 246, 185 75 055 118 551 2,196 244 2,240 247 2,273 248 2,313 256 2,334 258 2,341 254 2,330 250 2,335 249 2 342 249 2 344 248 r *539 P194 J>213 ^345 230, 985 v 223, 657 '59 281 » 55, 660 118 621 * 115, 126 2 359 249 2,370 248 2 381 249 1 257 1,252 ' P 119 4 f 122 4 v 1 255 1,309 1,321 1,324 1,330 1,330 1,332 1,321 1,305 1 293 1 285 r 124.9 128.0 126.1 123.1 126.4 126.9 127.0 125. 2 127.0 124. 3 127 1 124. 5 126 1 123.1 124 6 120 5 123 3 122 2 122 2 124 2 P 119 7 * 124 5 130.0 129.5 128.1 129.8 126.4 128.4 130.9 129.8 129.8 132. 9 r 41.1 41.9 43.1 41.0 42.0 42.7 40.7 41.8 43.2 40.7 41.8 42.4 40.2 40 9 43.1 40 3 41 3 43.9 40.6 41 6 44.2 40 5 41 7 44.0 40.5 41 5 43.9 41.2 42 2 45.1 40.6 40.1 42.3 41.9 41.0 41.8 41.4 41.1 41.1 42.1 41.3 42.1 41.5 41.3 40.4 41.9 40.4 41.7 41.9 41.5 40.4 41.8 40.4 41.8 39.8 39.6 39 7 41.4 40.4 41 1 40 9 40.6 40 8 41 5 39.2 40 9 40 6 40.2 41 1 41.5 39.3 41 3 41 3 40 8 41 4 41 7 39.8 41 2 40.6 40.4 41 1 40.9 39.2 41 2 MO. 8 MO. 4 42.0 41.2 MO. 0 42 2 41.3 41.6 41.1 41.4 40.8 40.2 41.0 40.4 41.0 41.9 41.3 41.9 41.8 41.9 40.9 41.4 40.4 41.6 41.1 ' 41.4 Ml 4 41 4 42.1 42.0 41.8 41.8 41.0 41.3 41.7 41. 7 41.4 '42.3 Ml. 9 Ml. 9 41.9 43.8 41. 3 41.2 40.3 43.9 40.2 41.1 42.3 41.5 41.5 43.9 41. 3 40.9 39.7 44.0 39.9 41.5 42.5 41.3 41.2 43.6 41. 5 40.9 39.8 43.9 39.8 41.2 42.3 40.7 41.2 43.5 41. 5 40.4 38.9 43.8 40. 1 40.3 42.6 40.8 39.6 43.0 40.4 39.9 37.9 43 7 40.4 40.7 41.8 39.9 39.9 43.0 40. 8 40.9 39.5 43 6 40.2 40.7 41.9 40.1 40.8 43.2 41. 5 41.1 39.8 43.9 40.0 40.7 42.2 40.4 41.1 43.4 41. 5 40.9 39.7 43 3 40 2 40.9 42.3 40.6 40.4 43.2 41. 8 40.7 39.1 43 9 39 1 40.6 42.5 40.6 41.3 M4. 1 Ml. 7 MOM M4 1 40.7 43.9 M2 0 r 41.7 T 40 8 T 43 2 r 40 9 r 41.7 ' 42 3 MO 9 40.5 M3. 5 Ml 7 Ml. 2 40 2 42 8 40 3 42. 1 T 42. 1 40 9 40.0 41.0 40.6 44.4 37.5 41.5 40.9 36.8 40.5 41.2 38.1 39.7 41.2 41.2 44.3 38.7 41.6 40.5 36.8 39.9 40.9 36.7 39.3 41.6 41.6 45.1 38.1 41.9 41.2 36.6 38.8 39.9 35.3 39.4 41.9 41.8 45.4 38.6 42.1 41.9 37.9 38.6 39.5 35.6 39.3 42.2 41.8 45.4 40.8 42.2 42.0 37.6 37.7 38.3 35.4 39.1 42.0 41 3 44.9 41.7 41.9 41.9 38.5 36.7 37.1 35.3 39.4 42.8 41 9 45.0 43.5 42.1 41.8 39.5 36.9 37.1 35.5 38.9 42.0 41 5 44.3 42.5 41.7 40.8 39.7 37.2 37.0 36.3 39.2 42.0 44 1 43.8 37.0 41.5 40 6 39.3 37 8 37.6 37 3 39.9 42.3 M4 2 44. 1 r 38. 3 Ml. 5 r 40. 8 '39.5 39.3 39.3 r 37. 8 r 39 6 Ml. 7 42 3 44 2 r 38 1 Ml 4 40 3 '38 5 r 38 9 39 0 37 2 39 5 '41.4 41 5 43 7 38.5 41 5 40 7 '36.8 '38 9 38 4 37 9 35.6 35.1 34.6 32.5 35.5 32.2 r 36.2 33. 7 36.1 '33.1 36.7 34.3 "36.7 35.5 34. 4 42.8 44.2 35.0 32.8 42.5 44.0 35 6 34.6 42.4 43.8 r 35. 8 '35.8 42.8 M4.2 '36 0 36.0 42.7 44.0 36 7 36.4 ' 42. 5 44.0 P42. 6 39.2 36.9 40.5 41 7 40.8 41.4 41.1 40.9 40 9 35 9 34.6 38.6 36.7 39.5 41.8 40.3 40.9 40.4 40.3 39 9 35 4 33.9 38.7 36.7 39.9 41 8 40.4 40.7 40 6 40.5 40 5 35 6 33.9 '39.4 r 37 5 40.7 41 8 MO. 7 Ml. 2 Ml 3 Ml. 2 '41 0 '37 8 '36.9 '38.6 r 35 7 40.4 Ml 5 40.2 MO. 9 Ml 1 Ml. 2 Ml 3 '38.4 35 9 39.7 r 3g 5 r 38 8 pl!9 6 P 122 6 PAYROLLS Manufacturing production-worker payroll Index, unadjusted (U. S. Dept. of Labor) U947-49= 100. . 130. 7 131. 1 40 9 41 9 44.3 40 8 41 8 M4. 6 v 40 7 P 41 g M4.3 2 5 5 7 6 6 MO 7 T 40 1 p 40 2 41 2 41 7 LABOR CONDITIONS Average weekly hours per worker (U. S. Dept. of Labor) : All manufacturing industries hours Durable-goods industries do Ordnance and accessories do Lumber and wood products (except furniture) hoursSawmills and planing mills ._ do Furniture andfixtures. do Stone, clay, and glass products do Glass and glass products do Primary metal industries do Blast furnaces, steel works, and rolling millst - -. _ hoursPrimary smelting and refining of nonferrous metals _ hours Fabricated metal prod, (except ordnance, machinery, transportation equipment)hours_ Heating apparatus (except electrical) and plumbers' supplies hoiirs.. Machinery (except electrical) do Electrical machinery do Transportation equipment do Automobiles _ do Aircraft and parts do Ship and boat building and repairs do Railroad equipment do Instruments and related products _ do Miscellaneous mfg. industries do Nondurable-goods industries Food and kindred products Meat products Dairy products ._ Canning and preserving Bakery products Beverages .Tobacco manufactures Textile-mill products Broad-wo von fabric mills Knitting mills _____ do do do do _ __ do do do do _ do do do Apparel and other finished textile products 36.5 37.4 35.3 35.3 35.4 35.8 hours. 37.5 36.0 38.6 36.3 Men's and boys' suits and coats do 36.2 35.0 Men's and boys' furnishings and work 35.0 37.0 35.5 37.9 34.4 clothing _- -hours _ 35.3 35.1 33.8 35.9 34.3 Women's outerwear do 34.9 35.4 43.7 43.7 43.4 43.1 Paper and allied products do 42. 6 42.8 44.3 44.8 44.7 44.6 44.5 Pulp, paper, and paperboard mills._.do 44.1 Printing, publishing, and allied industries 38.9 38.9 38.8 38.7 38.6 38.7 hours. . 36.7 36.6 36.8 36.7 36.3 Newspapers do 36.3 40.3 40.0 39.8 39.7 Commercial printing. do__ _ 39.8 39.9 41.7 41.9 41.8 Chemicals and allied products do 41.7 41.6 41.5 41.2 41.3 41.3 Industrial organic chemicals do 41.3 41.3 41.0 41.2 40.7 40.6 40.9 Products of petroleum and coal do 40.6 41.8 40.2 40.4 40.9 Petroleum refining __ do 40.5 41.6 40.2 41.9 40.0 40.0 41.0 Rubber products do 41.3 40.7 41.7 Tires and inner tubes do 37.0 39.4 37.6 41 4 41.2 36.5 36.7 Leather and leather products do 38.4 35. 4 37.1 36.4 35.6 37.9 35.4 Footwear (except rubber) do 33.9 36.3 35.4 ' Revised. v Preliminary. tSee note marked "{" on p. S-ll. fRevised series. Indexes have been shifted to new base period; monthly data beginning 1939 will be shown later. § Total includes State engineering, supervisory, and administrative employees not shown separately. ' 40. 5 MO. 8 42.6 41.4 MO r 39 Ml MO 39 Ml '38.1 r 4] 5 Ml 0 40.3 '41 6 r 41 3 40.2 ' 40.8 40 7 MO. 8 41 0 38.5 p 41 2 * 40 8 p 41 5 Ml. 8 v 43.3 p 41 5 p41. 2 Ml 7 MO 8 p 39 4 Ml.l ?35 7 P 38 4 ^38.8 p 41 1 MO. 7 Ml.l v 39 0 SURVEY OF CURRENT BUSINESS May 1.952 Unless otherwise stated, statistics through 1950 ami descriptive notes are shown in the 1951 Statistical Supplement to the Survey S-13 1951 March April May July June 1952 August September October November December January February March EMPLOYMENT AND POPULATION—Continued LABOR CONDITIONS— Continued Average weekly hours per worker, etc. — Continued Nonmanufacturing industries: Mining: Metal hours. . Anthracite do Bituminous coal do Crude-petroleum and natural-gas production: Petroleum and natural-gas production hours. . Nonmetallic mining and Quarrying do Contract construction do Nonbuilding construction do Buildine construction do Transportation and public utilities: Local railways and bus lines do Telephone do_ _ Telegraphf _ do Gas and electric utilities do Trade: Wholesale trade do Ketail trade (except eating and drinking places)* hours . General-merchandise stores do Food and liouor stores do Automotive and accessories dealers do Service: Hotels, year-round . do Laundries do Cleaning and dyeing plants do Industrial disputes (strikes and lock-outs) : Beginning in month: Work stoppages number Workers involved thousands. In effect during month: Work stoppages numberWorkers involved thousands. _ Man-days idle during month do Percent of available working time _ .. U. S. Employment Service placement activities: Nonagricultural placements thousands Unemployment compensation: Initial claims _ _ do Continued claims do Benefit payments: Beneficiaries, weekly average _ _ do Amount of payments thous of dol 43.3 23. 1 33.6 44.0 21.6 33.9 44.2 30. 1 33.3 41.8 31.0 34.8 42.0 35.3 32.7 44.5 26.3 34.9 44.1 27.2 36.5 44.4 35.1 36.3 43.4 30.8 36.2 '44.4 '44.1 32.5 '38.5 44.2 31.1 -38.4 40.6 43.6 36. 3 38.5 35.8 41.2 45.0 37.4 40.3 36.8 40.4 45.7 38.3 41.8 37.5 40.4 45.7 38.4 41.3 37.7 42.1 45.8 39.0 42.9 38.1 40.2 46.3 39.1 42.7 38.2 41.8 46.1 38.9 41.9 38.2 40.5 47.0 39.3 42.6 38.5 40.4 44.5 36.8 38.7 36.4 ' 41. 8 '44.0 '37. 9 '38.9 '37.7 '41.6 ' 43. 8 '37.7 '39.6 ' 37. 3 40.5 45.1 38. 1 40.0 37.7 45.7 38.9 44.6 41.5 45.9 38.7 44.6 41.5 46.5 39.0 45.4 41.5 46.8 39.4 45.1 41.7 46.5 39.8 44.8 42.0 46.2 39.2 44.6 41.9 46.1 39.4 44.4 42.2 46.2 39.1 44.3 42.1 46.3 39.2 44.2 42.0 ' 47. 6 38.8 44.3 '42. 1 '46.3 38.7 1 43.9 '42.0 46.4 38.5 43.9 41.5 35.9 40.6 40.6 40.6 40.7 40.7 40.7 40.9 40.8 40.8 '41. 1 '40.9 40.6 39.7 35.8 39.3 45.4 39.9 35. 9 39. 6 45.5 39.8 35. 5 39.7 45.2 40.4 36. 5 40.5 45.6 40.8 37. 1 41.1 45.3 40.8 36.9 41.0 45.3 40.0 35.9 40.0 45.2 39.8 35.6 39.6 45.4 39.4 35.1 39.7 45.3 40.1 ' 37. 0 40.0 '45.4 '39.8 36.0 ' 39. 3 45.2 39.9 36.0 39.4 45.2 43.3 40.9 42.0 43.3 41. 1 42.4 43.4 41.4 43.1 43.4 41.5 42.6 43.4 41.3 41.6 43.3 40.9 40.3 42.9 41.3 41.fi 42.9 41.1 41.5 43.1 41.0 40.7 '43.2 '41.4 '41.1 '42.9 41.6 41.1 42.9 41.0 40.0 353 131 363 162 432 164 389 189 440 276 490 210 430 200 470 240 300 70 200 55 400 190 J>350 550 280 1. 730 .22 550 235 1.910 .25 580 250 1,820 .23 560 260 1.790 .23 600 320 1.880 .24 625 350 2.600 .31 600 340 2,420 .34 640 360 2,750 .32 550 190 1,600 .21 500 100 900 .12 600 '250 1,250 .14 *550 J>250 P 1, 270 p. 15 v I , 400 p .17 P185 MOO ^240 p 600 *320 513 552 610 585 586 628 621 610 498 426 473 427 465 719 3,627 983 3,534 908 3,977 1,118 3,704 1,086 4,042 950 4,071 724 3, 329 902 3,692 948 3,817 1,151 4,114 1,382 6,157 890 5, 169 4,834 807 71, 584 740 62, 294 773 70, 799 821 68, 780 748 65, 922 801 75, 131 758 62, 049 713 67, 449 749 68, 607 797 70, 624 116,469 1,185 1,146 105, 023 1,113 101, 564 Veterans' unemployment allowances: Initial claims thousands.. Continued claims do Amount of payments thous. of dol 2 15 315 1 9 197 1 6 146 1 5 97 1 5 105 1 5 93 1 3 66 1 3 53 1 3 50 1 3 57 1 4 83 (2) (2) Labor turn-over in manufacturing establishments: Accession rate__monthly rate per 100 employees. _ Separation rate, total .- do Discharges do Lay-offs do Quits _ _ do Military and miscellaneous do 4.6 4.1 .3 .8 2.5 .5 4.5 4.6 .4 1.0 2.7 .5 4.5 4.8 .4 1.2 2.8 .4 4.9 4.3 .4 1.0 2.5 .4 4.2 4.4 .3 1.3 2.4 .4 4.5 5.3 .4 1.4 3.1 .4 4.3 5.1 .3 1.3 3.1 .4 4.4 4.7 .4 1.4 2.5 .4 3.9 4.3 .3 1.7 1.9 .4 3.0 3.5 .3 1.5 1.4 .3 4.4 4.0 .3 1.4 1.9 .4 64.57 69.30 72.71 64.70 69.68 70.97 64.55 69.60 72.45 65.08 70.27 71.02 64.24 68.79 73.10 64.32 69. 55 73.71 65.49 71.01 76.47 65.41 71.10 75.50 65.85 71.05 75.68 67.40 ' 67. 04 55.58 55.06 58.67 64.53 66.17 75.11 58.95 58.49 56.96 65.09 66.91 75.70 59.72 59. 22 56.28 65.11 65.81 75.02 61.51 60.92 56. 03 65.25 65.97 76.03 57.43 57.46 55.74 65.04 67.14 74.76 60.49 60.29 57.53 64.74 63.19 73.70 61.51 61.06 58.40 65.74 65.40 75.79 62.32 61.49 58.79 65.93 65.67 74.82 60.86 60.56 58.81 65. 03 65. 50 75.23 ' ' ' 'r 77.35 77.92 76.90 78.70 77.64 75.25 78.72 75.79 77.49 ' 79. 44 69.14 70.18 70.18 70.73 69.90 70.46 68.64 70.47 69.95 T 69.55 69.51 69.18 69.43 67.98 68.68 70.14 70.39 69.92 ' 71. 78 ' 71. 19 70.89 76.43 65.34 70.22 76.78 65.58 69.67 76.30 66.57 69.50 76. 65 67.15 67.40 75.42 66.13 67.23 75.94 66.34 69.89 77.24 68.06 70.65 77.86 68.27 69. 53 77. 63 69.10 ' 71. 49 ' 79. 95 ' 69. 97 ' 70. 57 ' 79. 81 ' 70. 35 r 3 65 3.9 3.9 .3 1. 3 1.9 .4 867 3 54 p4. 0 p 3. 6 p I. 0 p 2. 0 p .3 WAGES Average weekly earnings (U. S. Department of Labor) : All manufacturing industries . dollars. Durable-goods industries do Ordnance and accessories do Lumber and wood products (except furniture) dollars. _ Sawmills and planing mills _.. ___ do_ Furniture andfixtures-. ._ do Stone, clay, and glass products do Glass and glass products do Primary metal industries do Blast furnaces, steel works, and rolling millst dollars _. Primary smelting and refining of nonferrous metals dollars. . Fabricated metal prod, (except ordnance, machinery, transportation equipment) dollars. .. Heating apparatus (except electrical) and plumbers' supplies dollars Machinery (except electrical) do Electrical machinery do 72.71 ' 77. 62 60. 18 59. 47 60. 48 65. 30 66. 28 ' 77. 73 71. 58 ' 76. 99 72.28 ' 67. 03 ' 72. 27 ' 78. 27 P 67. 20 p 72. 38 p 78. 01 ' 57. 12 ' 56. 25 59. 80 ' 64. 47 ' 65. 50 ' 76. 75 ' 59. 10 58. 06 ' 60. 22 ' 65. 27 66. 70 ' 76. 34 p 58. 53 78.36 78.44 ' 73. 82 73. 11 r ' 71. 52 P 60. 15 v 65. 12 P 76. 53 p 71. 60 70.27 ' 79. 56 ' 70. 10 p 79. 59 p 70. 34 75.73 75.14 74.81 74.97 74.33 Transportation equipment do 77.43 76.36 77.14 77.05 ' 79. 48 ' 79. 77 ' 78. 69 P 79. 64 76.13 74.52 74.88 73.30 74.90 Automobiles . do 76.31 77.53 77.34 76. 44 ' 79. 91 '81.11 79.27 77.35 77.48 77.13 77.31 Aircraft and parts . do 77.22 79.28 77.48 78.07 79.85 ' 80. 57 ' 79. 44 79.09 70.42 68.78 71.59 68.31 Ship and boat building and repairs_._do 68.46 71.52 71.96 73. 57 72.37 ' 74. 12 ' 74. 89 74. 56 75.82 75.13 75.64 Railroad equipment do 77.36 76.55 76. 96 77.05 77. 06 76. 49 ' 77. 81 ' 78. 10 79. 57 67.64 69.44 68.18 Instruments and related products do 68.55 68.78 68. 51 69.93 70.26 70.98 ' 71. 70 '71.40 ' 71. 44 * 7 1 . 2 2 57.85 58.18 Miscellaneous mfg. industries _ ~ do _ 56.46 58.03 57.39 57.61 56.82 58.18 58.71 ' 60. 53 ' 59. 80 60.37 P 60. 26 r Revised. *> Preliminary. JSee note marke d "t" on p . S-ll. 2 *New series. Data beginning 1947 will be shown later. 1 See note ' T' for this page; com parable fig ure for Dec ember 1951, 43.8. Less thacL 500 claim 3. t Revised series. Beginning 1952, data cover all c 'omestic (1 and-line) e mployees c xcept mess engers anc1 those conipensated entirely on a commission basis; earlier dat a exclude g ?neral and divisional headquarters personnel and trainees in set ool. SURVEY OF CURRENT BUSINESS S-14 Unless otherwise stated, statistics through 1950 and descriptive notes are shown in the 1951 Statistical Supplement to the Survey May 1952 1952 1951 March April May June July August September October November December January February March EMPLOYMENT AND POPULATION—Continued WAGES—Continued Average weekly earnings, etc.— Continued All manufacturing industries— Continued Nondurable-goods industries dollars Food and kindred products do Meat products - do Dairy products - do Canning and preserving do Bakery products do Beverages do_ _ Tobacco manufactures do Textile-mill products do Broad-woven fabric mills - do Knitting mills - do Apparel and other finished textile products dollars Men's and boys' suits and coats _ do Men's and boys' furnishings and work clothing dollars-Women's outerwear do_ _ Paper and allied products do Pulp, paper, and paperboard mills do Printing, publishing, and allied industries dollars.. Newspapers do Commercial printing do Chemicals and allied products do_ _ Industrial organic chemicals do Products of petroleum and coal do Petroleum refining do Rubber products do Tires and inner tubes do Leather and leather products do Footwear (except rubber) do Nonmanufacturing industries: Mining: Metal do Anthracite do Bituminous coal do Crude-petroleum and natural-gas production: Petroleum and natural-gas production dollars Nonmetallic mining and Quarrying do _ Contract construction do Nonbuilding construction do Building construction „ do Transportation and public utilities: Local railways and bus lines do Telephone - do__ Telegraph f do_ _ Trade: Wholesale trade do__ _ Retail trade (except eating and drinking places)* dollars General-merchandise stores do Food and liquor stores do Automotive and accessories dealers do Finance: Banks and trust companies do Service: Hotels year-round -- do. 58.40 59.12 61.92 59.98 48.64 55.32 72.35 42.03 53.34 53.72 48.54 58.16 59.66 62.91 59.67 50.39 56.37 71.97 42.58 52.87 53.95 46.76 57.93 60.40 63.90 60.52 48.88 57.24 73.75 42.49 51.37 52. 67 45.04 58.47 61.80 67.88 61.11 49.25 57. 93 75. 21 44.49 51.07 52. 10 45.18 58.48 61.65 68.26 62.02 49.20 58.15 75.64 44.03 49.58 50.25 44.57 57.91 61.15 67.48 60.70 53.00 58.07 75.13 44.08 48.08 48.30 44.44 58 67 62 06 68.46 62.10 54.33 58. 69 75.11 44.75 48.74 48.75 44.84 58 00 61 91 67 65 60.60 56. 87 58.38 72. 54 45.30 49 29 48.77 46.06 59 07 63 34 73. 51 60.09 47.80 59.26 74.54 46.26 50 46 50 01 47.56 r 60 45 64 13 r 73. 06 r 61. 48 ' 51. 02 r 59. 43 r 73. 48 ' 46. 53 f 52 70 r 52. 62 ' 48. 08 r r r r 47.27 57.13 44.97 54.90 43.56 53.29 44.05 52.85 45.10 52.82 46.11 51.56 45.89 51.98 43.70 47.81 45.12 47.59 ' 46. 26 ' 49. 98 ' 46. 61 '50.01 r 60 19 63 47 69. 50 r 62. 63 ' 50. 44 r 59. 16 r 72. 58 ' 45. 31 * 52. 48 r 52. 26 47.91 r 60 12 63 34 69 01 62.10 50.90 59.84 73. 75 ' 4.3. 61 r 52 44 51.34 48.51 r> 60 20 P 63 17 47.49 51.59 * 47. 23 40.17 52.49 66.16 70.80 38.96 48.37 66.38 71.37 37.28 47.30 65.92 70.96 36.82 47. 52 65.56 70.84 36.15 52.35 65.44 71.73 36.99 53.45 64.84 70.38 37.67 51. 50 65.57 71.29 37.14 47.33 65.32 71.15 38.13 50.41 65 64 71.31 ' 38. 09 r 52. 30 r 66. 68 ' 72. 22 75.74 82.13 75.52 67.54 71.15 78.93 81.89 65.88 71.40 48.73 46.43 75.78 82.98 74.76 67.84 71.82 81.33 84.87 65.96 70.15 46.65 43.65 75.66 83.49 74.60 68.14 72.07 81.31 84.77 68.56 75.92 45.38 41.70 75.82 83.16 74.86 68.72 72.48 81.20 84.76 71.27 82.44 46.90 43.79 75.50 82.36 74.86 69.01 73.06 84.06 87.94 70.81 83.67 47.12 44.39 75.54 82.29 74.77 68.18 71.67 80.55 83.70 69.52 82.07 46.19 43.29 77.69 85.13 76.99 68.43 72.54 83.21 86.60 70.18 81.64 45.92 42.73 76.27 84.59 75.13 68.18 71.17 81.72 84.68 68.67 78.76 45. 31 41.83 77.09 85.51 76.57 68.72 71.63 81.28 84.89 69.46 80.27 45. 85 41.93 •• 79. 43 ' 88. 65 r 78. 75 «• 69. 10 ' 72. 45 ' 82. 94 •• 87. 14 ' 73. 91 ' 86. 26 ' 48. 61 r 45. 57 r 77. 12 72.83 50.68 74.66 74.62 47.20 75.63 74.96 66.67 73.86 70.89 68.94 77.67 72.32 79.50 73.71 75.74 58.52 77.23 76.43 60.36 81.61 76.10 78.24 80.62 74.43 81.84 81.09 r 79. 43 69.98 ••86.28 ' 79. 29 73.42 T 86. 36 79.34 76.69 63.74 76.99 74.19 77.44 80.30 65. 88 79.36 78.26 79.75 78.30 67.22 81.62 81.26 81.83 78.74 67.82 82.41 81.48 82.71 83.32 68.84 83.73 84.81 83.63 78.15 69.59 84.46 85.27 84.31 83. 68 70.63 85.19 84.72 85.42 78.93 71.72 86. 26 86.61 86. 20 79.02 68. 35 81.66 79.30 82.26 r 83. 85 ' 67. 32 ' 83. 83 «• 79. 08 ' 84. 94 ' 84. 57 ' 66. 49 * 84. 07 T 80. 51 r 84. 78 82. 34 68.24 85.46 81.60 86.26 70.42 56.52 64.63 70 14 70.92 56.12 64.40 70.38 72.17 56.59 65.97 70.72 72.77 58.12 65. 44 71.06 73.19 59.30 71.23 71.82 72.72 58.84 70.47 71.73 73.11 59. 97 72.33 72.88 73.23 59.94 72.34 72.92 73.11 60.84 72.13 73 29 r ' 73. 99 ' 59. 60 1 70. 77 ' 73. 29 73.54 59 79 70. 81 72.71 63.95 63.78 64.35 64.55 64.51 65.64 65.44 65.52 ' 66. 58 r 66. 46 66.54 49.84 36.98 53.18 66.34 49.83 36.71 53. 44 66.22 50.74 37.70 54.72 67.03 51.49 38.51 55.44 66.91 51.37 38.01 55.23 67.18 50.80 37.19 54.24 67.94 50. 43 36. 56 53.90 67.24 49.92 36.12 54. 35 67.13 49.92 ' 37. 52 T 54. 44 r 67. 06 ' 51. 26 ' 38. 34 r 54. 59 ' 67. 12 51.19 37.40 54.61 67.57 63.62 48.95 36.44 52 62 65.29 r r r 75. 35 59. 44 72. 21 73. 63 38. 20 53. 64 66. 65 71.98 r r ' 82. 68 r 78. 34 ' 68. 72 71.68 »• 82. 90 ' 87. 13 T 75. 15 * 88. 71 ' 49. 63 r 47. 24 * 42. SO P 51 61 39. 09 54. 56 66. 56 72.16 r P 67 14 r 77. 34 83. 65 77.14 r 68. 39 71. 76 T 82. 38 85. 88 r 74. 30 87.62 r 50. 32 48.32 p 78. 80 p 68. 55 p 82. 30 p 75. 38 f 50. 86 80. 06 49.70 50.08 50.11 50.06 50.50 50.28 50. 36 50.78 51.13 ' 51. 81 r 51. 81 51. 96 34.68 36 85 44.14 34.90 37 32 44.90 35.02 37.96 45.90 35. 24 38.06 45.45 35.46 37.83 44.26 35.29 37.38 42.56 35. 78 37.87 44.72 35. 91 37.73 44.36 36.20 37 93 43.71 36.81 ' 38. 34 ' 44. 14 r 36. 55 38.01 43. 04 1.571 1.654 1.687 1. 578 1. 659 1.662 1. 586 1. 665 1.677 1.599 1.681 1.675 1.598 1.682 1.696 1.596 1.684 1.679 1.613 1.707 1.730 1.615 1.705 1.716 1.620 1.712 1.724 1. 636 1. 723 ' 1. 721 ' 1. 639 1.725 ' 1. 738 r 1. 643 •• 1. 729 1. 755 P 1. 651 P 1. 740 * 1. 761 1.369 1.373 1.387 1.540 1.614 1.797 1.424 1.423 1.386 1. 546 1.620 1.798 1.439 1.434 1.393 1.554 1.629 1.799 1.468 1.468 1.387 1.561 1.633 1.819 1. 443 1.451 1.404 1.571 1.662 1.819 1.479 1.485 1.410 1.560 1.612 1.802 1.515 1.519 1.421 1.584 1. 664 1.835 1.509 1.507 1.420 1.581 1.650 1.816 1.499 1.499 1.431 1.590 1.671 1.826 «• 1. 475 1. 472 r 1. 440 r 1. 585 r 1. 657 r 1. 842 «• 1. 421 ' 1. 424 r 1. 441 ' 1. 584 r 1. 654 r 1. 845 «• 1. 452 1.448 v 1. 456 r P 1. 460 p 1. 596 1 873 1.873 1.871 1.901 1.903 1.872 1.920 1.876 1.890 r 1. 896 1.902 1.881 1.674 1.675 1.679 1.688 1.709 1.702 1.699 1.694 1.702 r 1. 729 r 1. 783 1. 766 1.652 1.655 1. 655 1.661 1.658 1.663 1.682 1.688 1.689 r 1. 697 ' 1. 699 1.692 1.745 1.582 1.692 1.749 1.588 1.691 1.750 1.604 1.687 1.762 1.618 1.702 1.754 1.637 1.685 1. 766 1.626 1. 713 1.788 1.640 1.719 1.794 1.645 1.721 1.797 1. 653 ' 1. 731 ' 1. 813 r 1. 666 •• 1. 734 r 1.818 r 1. 675 1.838 1.889 1.762 1.711 1.828 1. 599 1.402 1.829 1.877 1.753 1.712 1.864 1.613 1.405 1.833 1.882 1. 759 1.720 1.858 1.626 1.410 1.860 1.925 1.765 1.756 1.877 1.630 1.418 1.863 1.934 1.773 1.772 1.863 1.631 1.415 1.867 1.932 1.777 1.790 1.893 1.635 1.417 1.884 1.948 1.806 1.788 1.891 1. 657 1.426 1.885 1.948 1.803 1.830 1.884 i 1.661 1.433 1.893 1. 955 1.819 1.851 1. 884 1.670 1.446 •• 1. 906 r 1. 978 T 1. 827 r 1. 830 r 1. 907 r 1. 683 r 1. 462 *• 1. 914 r 1. 988 r 1. 839 r 1. 831 ' 1. 873 r 1. 688 r 1. 462 1.481 1.484 1.474 1.488 1.489 1.491 1. 507 1.460 1.465 Nondurable-goods industries do 1.456 1.452 1.475 1.461 1.474 1.508 1.442 1.448 1.450 Food and kindred products do 1.634 1.633 1.630 1.536 1.624 1.525 1.634 I 1. 667 1.527 Meat products do 1.352 : 1.366 1.342 1.372 1.346 1.380 1.368 1.351 1.347 Dairv products do ; 1.271 1 276 1 206 1.292 1 249 1.283 i 1 338 1 297 1 302 Canning and preserving do 1.386 i 1. 400 1.366 1.394 ! 1.428 1.376 1.378 1.333 Bakery products do 1.355 1.790 1.793 ! 1.795 1. 797 1.778 i 1. 836 1.801 1.769 1.777 Beverages .- do ' Revised. » Preliminary. % See note marked "J" on p. S-ll. i See note " t" on p. S-13; comparable figure for December 1951, $70.47. *New series. Data beginning 1947 will be shown later. fRevised series. See note " f on p. S-13. * I. 515 1.516 r 1. 653 r 1. 394 r 1. 332 r 1. 432 ' 1. 801 1. 520 1.522 1.643 1.417 1.324 1.429 1.801 Cleaning and dyeing plants do Average hourly earnings (U. S. Department of Labor) : All manufacturing industries dollars. Durable-goods industries do Ordnance and accessories __do_ _ Lumber and wood products (except furniture) _-- - --dollarsSawmills and planing mills __do Furniture and fixtures do Stone clav, and glass products. ___do Glass and glass products do Primary metal industries __ _ - -do _ Blast furnaces, steel works, and rolling mills: dollars Primary smelting and refining of nonferrous metals dollars Fabricated metal prod, (except ordnance, machinery, transportation equipment) dollars _ Heating apparatus (except electrical) and plumbers' supplies dollars Machinery (except electrical) ___do___ Electrical machinery _ do Transportation equipment Automobiles __ _ Aircraft and parts Ship and boat building and repairs Railroad equipment Instruments and related products Miscellaneous mfg. industries do do_ _ do do do do... do r 36. 47 38.60 ' 44. IS r r r r r 1. 451 1. 592 1. 655 1. 835 P 1.844 1. 707 "1.713 1. 735 I . 829 1. 681 v 1 . 838 " 1. 695 '1.910 1.972 1.848 1.850 1.890 1. 697 r 1. 476 P 1. 933 ' 1. 522 ' 1. 530 1. 663 1.421 1 322 1.442 1.812 p 1 . 528 '• 1. 537 P 1. 708 P 1. 477 i"":: SURVEY OF CURRENT BUSINESS May 1952 Unless otherwise stated, statistics through 1950 and descriptive notes are shown in the 1951 Statistical Supplement to the Survey S-15 1952 1951 March April May June July August September October November December January February March EMPLOYMENT AND POPULATION—Continued WAGES—Continued Average hourly earnings, etc. — Continued All manufacturing industries— Continued Nondurable-goods industries— Continued Tobacco manufactures dollars. _ Textile-mill products do Broad-woven fabric mills do Knitting mills do Apparel and other finished textile products dollars.. Men's and boys' suits and coats do Men's and boys' furnishings and work clothing dollars Women's outerwear do Paper and allied products do Pulp, paper, and paperboard mills do Printing, publishing, and allied industries dollars. . Newspapers do Commercial printing do Chemicals and allied products do Industrial organic chemicals do Products of petroleum and coal do Petroleum refining. do Rubber products . « do Tires and inner tubes _ do ._ Leather and leather products— do Footwear (except rubber) . . _»do Nonmanufacturing industries: Mining: Metal __ . do Anthracite do Bituminous coal - _ do Crude-petroleum and natural-gas production: Petroleum and natural-gas production dollars.. Nonmetallic mining and quarrying do Contract construction do Nonbuilding construction do Building construction do Transportation and public utilities: Local railways and bus lines do Telephone . _ do. _ Telegraph f do Gas and electric utilities _ _ do Trade: Wholesale trade do Retail trade (except eating and drinking places)* dollars General-merchandise stores do Food and liquor stores do Automotive and accessories dealers .do Service: Hotels, year-round do Laundries. __ _ do. _ Cleaning and dyeing plants _ do Miscellaneous wage data: Construction wage rates (E. N. R.):§ Common labor. __dol. per hr__ Skilled labor _ do Farm wage rates, without board or room (quarterly) dol. per hr__ Railway wages (average, class I) _ do_ _ Road-building wages, common labor do 1.142 1.317 1.304 1.274 1.157 1.325 1.319 1.274 1.161 1 324 1 320 1 276 1.174 1 323 1.319 1 269 1.171 1.315 1.312 1 259 1.145 1.310 1.302 1 259 1.133 1 321 1.314 1 263 1.141 1.325 1.318 1 269 1.177 1.335 1.330 1.275 «• 1. 178 ' 1. 341 «• 1. 339 1.272 ' 1. 177 r 1. 349 ' .340 .288 ' 1. 185 T 1. 348 1.337 1.280 p 1. 199 P 1. 344 1.264 1.480 1.232 1.464 1.234 1 468 1.248 1 468 1.274 1 459 1.288 1 473 1.289 1 481 1.263 1 471 1.271 1.478 ' 1. 278 r 1. 483 ' .291 ' .511 1.294 1.504 p 1. 287 1.060 1.462 1.514 1.584 1.053 1.378 1.519 1.593 1 050 1 379 1.519 1 591 1 052 1.406 1.521 1.599 1 051 1.500 1.529 1 612 1 048 1.510 1.522 1 596 1 061 1 497 1 532 1 613 1 061 1 443 1 537 1 617 1 071 1.457 1.548 1 628 r 1 064 1. 461 t 1. 558 1.634 r T r 1.947 2.244 1.874 1.612 1.727 1.948 2.255 1.869 1.623 1.739 1.955 2 275 1 879 1 634 1 745 1.954 2.266 1 881 1 648 1.755 1.956 2.269 1 881 1 659 1.769 1.952 2.267 1 874 1 643 1.748 1.982 2 307 1 901 1 641 1 778 1.976 2 305 1 902 1 631 1 766 1.992 2 330 1 919 1 644 1.773 ' 2. 016 2. 364 1 935 r I 653 1.780 ' 1. 998 2. 316 T I 939 r 1 656 1.783 1.944 2.037 1.647 1.899 1.269 1.225 1.974 2.075 1.649 1.896 1.278 1.233 1 988 2.093 1 660 1 927 1.282 1 230 1. 995 2.098 1.701 1.977 1.278 1 230 2.011 2.114 1 727 2.021 1.270 1 223 1 984 2.082 1 708 1 992 1.269 1 223 2 010 2.107 1 716 1 996 1.279 1 235 1 998 2.096 1 704 1 974 1.280 1 234 1 997 2.091 1 715 1 982 1.288 1 237 r 2. 013 r 2. 110 r 1 794 r 2 104 ' 1. 286 r 1 235 r 1.682 2.194 2.222 1.696 2.185 2.231 1 696 2.215 2 218 1.696 2.224 2 232 1.722 2.252 2 254 1 702 2.225 2 213 1 733 2 219 2 236 1 714 2 229 2 221 1 715 2 224 2 240 r 1 789 2 250 r 2 247 T 1 798 2.259 2 243 2 230 1.889 1.462 2.121 1.927 2.163 1.949 1.464 2.122 1.942 2.167 1.938 1.471 2 131 1 944 2 182 1.949 1.484 2 146 1 973 2 194 1.979 1 503 2 147 1 997 2 195 1.944 1 503 2 160 r \ 977 2 207 2 002 1 532 2 190 2 022 2 236 1 949 1 526 2 195 2 033 2 239 1.956 1 536 2 219 2 049 2 260 r 2. 006 1 530 r 2 212 T 2 033 T 2 253 r 2. 033 r I. 518 r 2 230 T 2 033 r 2 273 2.033 1.513 2 243 2 040 2 288 1.541 1.453 1.449 1.690 1.545 1.450 1.444 1.696 1 552 1 451 1 453 1 704 1 555 1 475 1 451 1 704 1 574 1 490 1 590 1 710 1 574 1 501 1 580 1 712 1 586 1 522 1 629 1 727 1 585 1 533 1 635 1 732 1 579 1 552 1 63^ 1 745 r r r r T r i T 598 540 512 745 1 585 1 553 1 613 1 752 1.567 1.575 1 571 1 581 1 586 1 585 1 605 1 604 1 606 1 620 1 625 1 639 1.233 1.018 1.339 1.438 1.249 1. 030 1.343 1.458 1 252 1 034 1.346 1 465 1 256 1 033 1 351 1 470 1 262 1 038 1 349 1 477 1 259 1 030 1 347 1*483 1 270 1 036 1 356 1 503 1 267 1 027 1 361 1 481 1 267 1 029 1 369 1 482 1 945 r 1 014 r 1 351 r i 477 1 288 r 1 065 T i 389 T i 485 1 283 1 039 1 386 1 495 .801 .901 1.051 .806 .908 1.059 807 917 1.065 812 917 1 067 817 916 1 064 815 914 1 056 834 917 1 075 837 918 1 069 840 925 1 074 T §52 r 926 r 1 074 r 850 928 r 1 075 852 Q27 1 076 1.595 2.619 1.595 2.619 1.608 2 629 1.615 2 648 1.629 2 688 1.637 2 701 1.637 2 701 1.645 2 719 1.646 2 728 1.651 2 751 1.654 2 758 1.681 .78 1.716 1.23 1.725 1.751 82 1.768 1.24 1 746 1 794 73 1 748 1 33 1 779 1 801 1 807 1 29 384 368 398 410 437 435 490 434 4Q9 377 r r r 1 583 i 532 1 §30 1 749 r 061 .490 .561 1.636 T 2 027 2. 120 1 824 2. 148 ' 1. 289 T 1 240 1.065 1.499 1. 566 1.640 T ' 2. 014 2. 330 1 943 1 656 1.785 p 2. 031 2.019 2.110 1 821 2.137 1.297 1 255 v 2. 022 r T r r i i i i p 1. 576 r 1. 668 p 1. 834 p 1. 304 1.795 1.659 2 758 86 1. 664 2 770 « 83 FINANCE BANKING Acceptances and commercial paper outstanding: Bankers' acceptances mil. of dol Commercial paper . _ do. . Agricultural loans outstanding of agencies supervised by the Farm Credit Administration: Total . _ . mil. of dol. Farm mortgage loans, total __.do Federal land banks do . Land Bank Commissioner . _ do Loans to cooperatives do Short-term credit do Bank debits, total (141 centers). New York City Outside New York City do do do 479 381 456 387 417 364 425 331 333 791 347 110,756 43 224 67 532 111,190 41 363 69 827 1,986 40 339 650 323 700 310 739 2 097 1,012 974 37 315 771 129, 112 53 171 75, 941 114, 898 45 477 69 421 116, 572 45 375 71 197 120, 699 48 588 72 110 998 958 r 380 336 2 129 1 020 985 35 O/?A 399 420 -f on RQ7 fifiO 107, 504 123, 770 117, 231 129, 549 66 359 75 799 79 428 76 049 49 046 24 734 624 23, 239 21,166 49, 046 20, 945 19,670 490 24, 680 ^5 009 19 23, 801 21 , 468 49, 900 21,192 20, 056 389 25, 064 47 Q71 44 QO9 4fi 4 458 534 2 j94 2 110 1 029 998 Federal Reserve banks, condition, end of month: Assets, total mil. of dol 47, 978 46 883 47 174 47 634 47 547 47 755 48 740 49 116 Reserve bank credit outstanding, total do 24 497 24, 150 25' 058 23, 560 23 481 24 043 24 033 24 309 Discounts and advances do 275 529 283 53 277 552 186 190 United States Government securities.. .do 22, 910 22, 742 22, 509 22, 982 23, 078 23, 127 23, 734 23, 552 Gold certificate reserves . . . do 20, 567 20, 567 20, 508 20, 514 20, 504 20, 611 20, 775 21, 004 Liabilities, total do 47, 978 46, 883 47, 174 47, 634 47, 547 47, 755 49, 116 48, 740 Deposits, total do 21, 450 20, 748 20, 381 20, 598 20, 606 20, 678 21, 453 20, 868 Member-bank reserve balances. do 19,014 18, 901 18, 536 19, 020 18, 863 19,181 19, 391 19, 557 Excess reserves (estimated) do 647 452 416 330 467 717 569 497 Fedora] Reserve notes in circulation do 23, 041 23, 143 23, 332 23, 630 23, 726 24, 020 24, 148 24, 261 Reserve ratio . _ percent 46.2 46. 9 46. 9 46.4 46 3 d?\ (\ 4 ft 1 ' Revised. v Preliminary. §Rates as of April 1, 1952: Common labor, $1.680; skilled labor, $2.774. « Rate as of April 1, 1952. *New series. Data beginning 1947 will be shown later. 'See note " f" on p. S-13; comparable figure for December 1951, $1 609 fRevised series. See note " t" on p. S-13. 493 51 7 480 on/? 1 021 30 077 114, 051 125. 269 ~~ 123.059 4Q QOO A P. A 90 7*}o 22, 729 21,731 48, 941 21.004 20, 077 634 24, 405 A*7 n 90 QfU 598 22, 52S 21, 992 49, 323 21,336 19,982 ~98 24, 423 AQ 1 90 9-0 133 22,514 •22, 1 1 5 48, 590 20, 746 19, 733 492 24,371 <o n SUEVEY OF CUREENT BUSINESS S-16 Unless otherwise stated, statistics through 1950 and descriptive notes are shown in the 1951 Statistical Supplement to the Survey May 1952 1951 March April June May 1952 August July September October November December January February March FINANCE—Continued BANKTNG—Contimied Federal Reserve weekly reporting member banks, condition, Wednesday nearest end of month: Deposits: Demand, adjusted _ . . _ mil. of dol__ Demand, except interbank: Individuals, partnerships, and corporations mil. of doL. States and political subdivisions do United States Government do Time, except interbank, total do Individuals, partnerships, and corporations mil. of doL- St^tes and political subdivisions do Tnterbnnk (demand and time) do Investments total _ _ do TJ. S. Government obligations, direct and guaranteed total mil.ofdoL. Biii« .. do Bonds and guaranteed obligations-- . --do Notes _ -- do Other securities do Lo'ins total do Commercial, industrial, and agriculturaL-do To brokers and dealers in securities do___. Other loans for purchasing or carrying securities mil. of doL- Roal-estate loans Loans of banks Other loans Money and interest rates '.<? Bank rates on business loans: In 19 cities New York Citv 7 other nortnern ana as _ __ do do do percent do ^. - - Discount rate (N. Y. F. R. Bank) do Federal intermediate credit bank loans do Federal Innd bank loans __do Open market rates, New York City: Acceptances, prime, bankers', 90 days do Commercial paper, prime, 4-6 months do Call loans, renewal (N. Y. S. F.) do Time loans, 90 days (N. Y. S. E.) do Yield on U. p. Govt. securities: 3 month bills .-do. 3 5 vear taxable issues - do Savings deposits, balance to credit of depositors: New York State savings banks mil. of dol_. U S postal savings do 49, 487 50, 163 50, 034 49, 916 50, 383 50, 976 50, 533 52,124 53, 040 53, 370 54, 328 52, 683 51,16 50, 104 3. 489 4,622 15, 379 50, 257 3, 950 3, 520 15, 338 50, 591 3,857 3. 005 15,362 50, 500 3.589 4,679 15,539 50, 860 3,644 2, 673 15,551 51,174 3, 362 2, 609 1 5, 635 51, 696 3,300 3,747 15, 676 53,517 3, 465 2,543 15, 829 53, 964 3, 466 2,241 15, 792 55, 554 3, 582 2 225 16^026 54, 798 3, 694 1, 644 16, 070 53, 646 3, 599 2, 545 16, 205 51,7: 3,71 3, 6( 16,31 14,555 697 10, 384 37, 491 14, 477 732 10, 669 37, 447 14,485 746 10,157 36, 941 1 4, 661 743 10,422 37, 758 14, 673 740 11,103 37, 613 14,741 751 10, 807 37, 572 14, 795 734 11,345 37, 926 14,958 719 11,948 38, 565 14, 915 720 11,737 38, 772 15,152 712 13,519 39, 056 15, 176 728 11,834 39, 260 15, 275 761 11,481 38, 833 15,3? 7f 12,0' 38,31 30, 886 1,933 30, 836 1, 971 30, 443 1,769 20, 715 8,150 6, 61 1 32, 661 19,186 1,359 20, 527 8,147 6, 498 32, 428 19.048 1,332 30, 997 2, 648 2,224 19, 442 6, 683 6, 616 32, 487 19, 124 1,390 30, 930 2, 593 2, 239 19,486 6,612 6, 642 32,916 19, 502 1,170 31,212 2,934 2.493 19, 142 6, 643 6,714 33, 482 20, 078 1,242 31,926 3,748 3,010 19,212 5, 956 6, 639 34, 083 20, 571 1,077 32, 082 3,949 2 994 19, 185 5. 954 6, 690 34, 488 20, 865 1,148 32, 224 4,129 3 596 18, 531 5, 968 6, 832 35, 161 21,419 1,340 32, 419 4,319 3 698 18, 456 5, 946 6,841 34, 757 21, 160 969 31,892 20, 744 8.209 6, 605 32, 707 19, 202 1,512 31, 176 2,745 1,585 ] 9, 478 7, 368 6, 582 32, 877 19,220 1,399 31, If 3,41 36 18,2 5,9 7,1 34,7 21,1 1,2 718 5, 369 727 5,419 717 5,476 382 5,928 716 5, 530 700 5,545 324 5,865 698 5, 584 518 5,906 692 5,605 414 5,915 684 5, 653 680 5,670 657 5,949 687 5 658 56-1 6, 028 667 5, 669 822 6,011 660 5, 652 691 1.75 2.66 4.17 1.75 2.69 4.17 3 27 3 Oi 3 23 3 67 1.75 2.71 4.17 1.75 2.73 4.17 1.75 2.73 4.17 425 5.930 491 5, 935 523 5, 947 627 5, 950 3, 855 3 798 18, 286 5, 9."3 6,941 34, 693 21, 157 1,077 6677 5,i 6657 5 510 6,0 5,999 3 3 3 3 1. 2. 1.75 2. 23 4.08 3 07 2.78 3 04 3 52 1.75 2.23 4.08 1.75 2.37 4.13 1.75 2.47 4.13 3.06 2.79 3.06 3 47 1.75 2.64 4.13 1.63 2.13 2.00 2.13 1.63 2. 17 2.15 2.28 1.63 2.31 2.25 2.38 1.63 2.31 2. 25 2, 38 1.63 2.26 2.25 2.38 1.63 2.19 2.25 2.38 1.63 2.21 2.25 2.38 1.63 2. 25 2! 25 2.38 1.69 2.31 2.38 2.47 1.75 2.38 2.45 2.56 1.75 2.38 2.38 2.56 2. 2. 1.422 1.86 1.520 '2.03 1.578 2.04 1.499 2.00 1.593 1.94 1.644 1.89 1.646 1.93 1.608 2.00 1.608 2.01 1.731 2.09 1. 688 2.08 1. 574 2.07 1.6 2. 11.648 2,853 11,662 2,831 11,710 2, 808 11,821 2,788 11,840 2.772 11,867 2, 754 11,915 2.738 11,941 2,724 12,018 v 2, 710 12,175 p 2, 701 12, 208 v 2, 698 19, 379 12,976 7, 368 3, 946 19, 126 12,904 7,270 3,934 19, 207 12 920 7.248 3,980 19, 256 12,955 7.234 4,041 19, 132 12,903 7,173 4,061 19, 262 13. 045 7,247 4,138 19,362 13,167 7,327 4, 175 19, 585 13,196 7, 355 4,134 19, 989 13, 271 7,400 4, 100 20, 644 13, 510 7, 546 4, 039 rr 20, 126 13,314 7,322 3, 962 P 19, 716 p 13, 184 *7, 158 P3, 927 1,133 924 1,103 905 1,084 890 1,055 874 1,022 854 1,015 859 1,028 870 1,056 890 1,099 908 1,186 971 613 737 1,129 933 592 706 * 1.082 5, 992 2, 521 541 300 230 v 6, 026 P2, 542 v 545 P301 * 232 '951 1, 273 \ 176 ! P955 PC P i , 275 "176 V I,/ V 4,253 1,445 ! 1,114 p3, 967 P i , 448 P 1,117 P 3, ? P 1,4 P 1, 1 3.02 2.74 3. 02 3 42 1.75 2. 06 4.08 1.75 2.17 4.08 1.63 2.06 2.00 2.13 1. 12, 267 v 2, 685 ~~V2,~6 CONSUMER CREDIT Total consumer credit, end of month-. .mil. of doL. Instalment credit, total do Sale credit, total do \utomobile dealers _do Department stores and mail-order houses mil. of doL - Furniture stores do Household-appliance stores do All other retail stores (incl. jewelry) __ do Cash loans total _ do Commercial banks do Credit unions do Industrial banks _ __ do . Industrial-loan companies __do Insured repair and modernization loans mil. of doLSmall-loan companies do Miscellaneous lenders - -- d o _ . Charge accounts Single-payment loans Service credit - _ - - do do . do Consumer instalment loans made during the month, by principal lending institutions: Commercial banks - - -.mil. of dol Credit unions - do Industrial banks -- do Industrial-loan companies - do_ Small-loan companies do 602 662 590 646 590 645 5, 672 2, 506 5,721 2,515 5,798 2, 521 531 293 217 5,840 2, 524 533 296 221 5, 841 2, 522 522 288 209 5,730 2,492 524 288 211 852 1,119 860 1,131 872 1, 151 882 1, 167 166 888 1,181 894 1,203 904 1,191 164 3 938 1,381 1,084 3,744 1,392 1,086 3, 793 1,398 1,096 3, 804 1,399 1,098 3,743 1,393 1,093 3, 724 1,398 1 , 095 3, 696 1,401 1,098 368 79 43 33 207 340 72 41 31 184 359 82 44 33 198 356 86 44 35 204 339 76 44 35 206 389 90 49 40 210 8,811 8, 112 3,289 2,626 54 2, 423 690 123 4,039 3,146 53 3,074 747 164 7,603 7,089 48 6,611 719 225 2,833 2,571 48 1,886 722 177 4,165 3,594 655 710 636 692 5,608 2, 476 517 286 204 5, 634 2 497 853 1,112 160 514 286 205 161 616 678 518 288 207 162 167 600 654 607 668 535 299 222 608 685 5,871 2, 509 535 299 225 922 1,211 5,964 2, 510 542 301 229 r ?909 v 567 P 673 M9, 5 p 13, 1 ?7,0 p3, 8 p l1., <(WO v-893 8 p» r 548 p6 ,l P 6 ,102 P 22,592 ,L Pp f 553 Pp O303 P2 170 938 1,268 176 3,868 1,413 1,108 4,190 1,422 1,106 4, 587 1,436 1,111 351 78 42 35 183 373 86 52 40 205 347 83 45 38 228 354 84 50 42 292 393 85 46 38 184 * 373 P 91 P 46 P37 P181 p' •p 6,524 6,209 42 5,691 707 83 2,708 2,635 52 1,653 885 117 3,951 3,521 5,576 5,279 44 4,599 823 111 5, 153 4,953 44 3,944 826 339 6,194 5, 553 43 5, 258 805 88 IV 5, 455 228 449 3,414 i 1, 363 of March 5,105 5, 689 142 404 396 3, 155 ! 3, 1, 1,412 15,1956-58. 169 168 r pp 52 p 41 p Pc fi 216 FEDERAL GOVERNMENT FINANCE Budget receipts and expenditures: Receipts total Receipts, net Customs Income and employment taxes Miscellaneous internal revenue All other receipts mil. of dol - -do__ - -do do _ - -do do 59 7,818 838 96 50 3,131 806 178 47 2,935 805 164 5,163 5,483 4,739 5,087 5,178 5,969 4,058 4,007 5,627 4,517 Expenditures, total - do_ 232 222 580 497 173 253 163 580 1,557 1,057 Interest on public debt do 422 422 411 384 435 478 427 425 456 397 Veterans Administration do 3, 166 3, 040 2,628 2,160 2,495 2,930 3,015 2,396 3,070 2,057 National defense and related activities do 1, 533 1,142 1,409 1,403 1, 512 1,533 1,533 1,103 1,167 965 All other exoeriditures - -do._r * Beginning A prill 1951 , includes 1^ percent note of March 15, 1955,1% percent note of December 15, 1955 , and 2^ percent bond Revised. » Preliminary. cf For bond yields see p. S-19. 9,* 44 9,*816 825 { 115 SUEVEY OF CURRENT BUSINESS May 1952 Unless otherwise stated, statistics through 1950 and descriptive notes are shown in the 1951 Statistical Supplement to the Survey S-17 1952 1951 March April May June July August Septem- October November 257, 353 254, 958 219, 321 35, 637 2 395 258, 298 255. 940 220, 325 35, 615 2 359 259, 604 257, 253 221, 391 35, 862 2,351 Decem- January ber February March 259, 775 257, 482 221, 249 36, 233 2,294 260, 362 258,136 221, 776 36, 360 2,226 258, 084 255, 794 219, 301 36, 493 2,290 FINANCE—Continued FEDERAL GOVERNMENT FINANCE—Con. Public debt and guaranteed obligations: Gross debt (direct), end of month, total mil. of dol__ Interest-bearing, total do Public issues do Special issues do Noninterest bearing do Obligations guaranteed by U. S. Government, end of month _ mil. of dol._ U. S. savings bonds: Amount outstanding, end of month do Sales, series E, F, and G.__ do... Redemptions. do Government corporations and credit agencies: Assets, except interagency, total mil. of dol Loans receivable, total (less reserves) do To aid agriculture do To aid home owners do To aid railroads do To aid other industries _ do To aid banks do To aid other financial institutions do Foreign loans do All other do Commodities, supplies, and materials do U. S. Government securities do Other securities do Land, structures, and equipment do All other assets do 254,997 252, 553 219,028 33, 525 2,444 254, 727 252, 280 218, 690 33,590 2,447 255,093 252, 729 218, 680 34, 049 2,364 255,222 252, 852 218, 198 34, 653 2,370 255, 657 253, 325 218, 618 34, 707 2,332 256,644 254, 321 219 174 35, 146 2 323 259, 419 257, 070 221, 168 35, 902 2,348 21 21 29 29 28 32 33 37 43 42 38 37 41 58,020 359 560 57, 938 310 472 57, 842 295 477 57, 784 289 475 57,733 310 481 57 691 312 436 57 662 272 390 57, 666 334 410 57, 710 315 364 57, 739 296 401 57, 809 440 492 57, 821 338 410 57, 814 330 428 25, 104 13, 496 3,931 1,721 108 473 0) 760 6,116 564 1,764 2,162 3,467 2,951 1,264 25, 188 13,504 3,675 1,809 105 498 (i) 824 6,151 627 1,719 2,185 3,474 2,999 1,308 25 668 13, 906 3 896 1,981 104 494 C1) 755 6,133 720 1,515 2,236 3,472 3,025 1,514 26, 744 14, 422 4,161 2,142 101 488 (i) 814 6, 110 779 1,461 2,226 3,463 3,358 1,813 Liabilities, except interagency, total Bonds, notes, and debentures: Guaranteed by the United States Other Other liabilities do 2,500 2,340 2,383 2,573 do do do 19 1,247 1,234 29 1,378 932 34 1,399 949 43 1,369 1,161 Privately owned interest U. S. Government interest do do 268 22, 337 315 22,533 322 22, 962 329 23,842 Reconstruction Finance Corporation, loans and securities (at cost) outstanding, end of month, total mil. of dol Industrial and commercial enterprises, including national defense. mil. of dol Financial institutions do Railroads -do States, territories, and political subdivisions-do United Kingdom and Republic of the Philippines 9 mil. of doL_ Mortgages purchased __ do Other loans do 883 885 882 872 862 856 831 823 819 803 784 767 758 447 98 106 20 458 97 105 20 462 95 104 20 463 94 103 19 460 93 103 18 457 92 102 18 442 92 102 18 433 92 102 18 428 91 102 18 419 84 99 19 408 79 99 19 398 76 96 18 390 73 96 19 87 89 36 84 86 36 81 83 36 75 82 36 72 81 35 71 81 36 60 80 37 60 80 40 60 79 42 60 78 44 57 78 45 57 77 45 57 77 46 64,822 58,060 65, 156 58, 309 65, 496 58,759 65, 727 59, 085 66, 128 59, 437 66, 455 59, 701 66, 777 59, 961 67, 181 60, 347 67, 476 60, 514 67, 983 60,919 68, 554 61, 385 68, 907 61,734 69,250 62,125 57, 362 37, 414 13, 514 11, 307 10, 303 3,008 10,589 908 14, 141 1,218 12, 923 2,107 1,304 1,488 57, 641 37, 342 13, 147 10, 927 10, 350 3.005 10, 839 977 14, 397 1,239 13,158 2,119 1,311 1,495 57, 894 37, 455 13, 021 10, 787 10, 376 3,017 11, 041 804 14, 675 1,263 13, 412 2,133 1,321 1,506 58, 091 37, 486 12, 741 10, 480 10, 457 3,024 11, 263 765 14, 921 1,283 13, 639 2,146 1,323 1,450 58, 431 37, 574 12, 657 10, 417 10, 503 3,033 11, 381 751 15, 139 1,298 13, 841 2,156 1,342 1,468 58, 702 37, 572 12, 410 10, 166 10, 548 3,044 11, 570 739 15, 365 1,310 14, 054 2,167 1,361 1,499 58, 975 37, 652 12, 326 10, 050 10, 587 3,065 11, 675 721 15, 518 1,319 14, 198 2,175 1,378 1,531 59, 282 37, 776 12, 229 9,956 10, 647 3,088 11, 812 735 15, 676 1,330 14, 347 2,182 1,401 1,511 59, 556 37, 759 12, 060 9,829 10, 703 3,111 11, 885 851 15, 851 1,338 14, 512 2,190 1,408 1,497 59, 999 37, 946 11, 871 9,657 10, 781 3,134 12, 160 848 16, 027 1,350 14, 676 2,193 1,426 1,559 60, 350 38, 056 11, 767 9,561 10, 814 3,150 12, 326 924 16, 185 1,357 14, 828 2, 199 1,432 1 554 60, 640 38, 187 11, 706 9,514 10, 846 3,164 12, 470 851 16, 336 1,375 14, 961 2, 206 1,445 1,615 60, 938 38, 385 11, 588 9,436 10, 909 3,182 12, 706 785 16, 459 1,388 15, 071 2,217 1 464 1,628 2,417 383 486 1,548 107 381 326 137 173 57 143 56 169 2,250 282 466 1,502 100 369 322 126 172 58 136 53 166 2,384 367 505 1,512 96 368 324 133 172 58 135 55 171 2,258 306 475 1,477 93 356 315 134 166 58 138 49 166 2,183 298 420 1,465 95 346 320 130 172 57 130 51 164 2,135 251 424 1,460 93 323 321 128 174 58 142 53 167 1,923 189 449 1,285 81 284 284 118 155 54 116 47 145 2,256 226 481 1,549 104 347 336 132 195 75 132 54 174 2,398 398 453 1,547 102 357 328 139 184 76 128 54 177 2,478 477 436 1,565 101 333 333 152 199 68 138 60 181 2,031 191 382 1,458 102 333 314 126 166 60 149 52 156 2,179 244 454 1,481 99 329 333 129 179 61 140 53 160 2,495 246 530 1,719 113 384 363 144 207 72 178 69 190 336, 397 146, 005 43, 726 8,831 -21, 715 58, 309 57, 811 338, 335 149, 159 43, 178 8,846 23, 573 60 249 53, 330 338, 256 142, 116 42, 984 8,247 22, 512 57 296 65. 101 307, 283 135, 428 38, 234 8, 152 22, 550 54 131 48, 788 327 525 148,811 39, 785 8 580 22 966 56 691 50! 692 288 393 122,338 35, 119 7 453 21 506 47 832 54.' 145 327 648 147 059 40, 377 8 605 22 601 58 909 50! 097 315 371 136 825 42, 448 8 311 24 109 53 220 50.' 458 364 248 141, 621 37, 549 7 988 22 249 53 450 101.' 391 389 502 167 995 46 560 9 887 38 294 52 774 73! 992 329 638 148 934 38,984 8 273 28 8^9 50 648 53.980 366 424 155 851 41 738 8 351 30 826 57 169 72! 489 LIFE INSURANCE Assets, admitted: All companies (Institute of Life Insurance), estimated totalj. mil. of dol Securities and mortgages! do _ _ 49 companies (Life Insurance Association of America), total mil. of dol Bonds and stocks, book value, total -do Govt. (domestic and foreign), total do U. S. Government -- do Public utility do Railroad do .. Other do Cash do Mortgage loans, total do __ Farm do Other _do Policy loans and premium notes __ do__ _ Real-estate holdings do Other admitted assets do Life Insurance Agency Management Association: Insurance written (new paid-for insurance) : Value, estimated total§ mil. of doL. Group§ do Industrial § _ do Ordinary, total do. ._ New England _ do Middle Atlantic _ do East North Central do West North Central do-__ South Atlantic do East South Central do West South Central _ _ do Mountain do Pacific do Institute of Life Insurance: Payments to policyholders and beneficiaries, estimated total thous. of dol Death claim payments do Matured endowments _ _ do. T)isfl,hility paymp,iits Annuity payments Surrender values Policy dividends do do do do 366, 291 153, 724 47, 349 8,682 r 29, 773 r 55, 392 71, 371 i Less than $500,000. 9 Beginning with September, data are for Republic of the Philippines only. ^Revisions for January-July 1950 are shown in corresponding note in the October 1951 SURVEY. ^Revisions, available upon request, are as follows: Total insurance written, January 1949—January 1951; group, January 1950—January 1951; industrial, 1949. SURVEY OF CUEKENT BUSINESS S-18 Unless otherwise stated, statistics through 1950 and descriptive notes are shown in the 1951 Statistical Supplement to the Survey May 1952 1952 1951 March April May June July August September October November December January February March FINANCE—Continued LIFE INSURANCE— Continued Life Insurance Association of America: Premium in corn e (39 cos ) total thous of dol Accident and health do Annuities do _. Group do Industrial do Ordinary __ _ ._ do 591, 532 60, 565 71, 308 48, 467 80,391 330, 801 489, 571 47, 472 69, 670 43, 028 64, 519 264, 883 525, 553 61, 935 64, 136 42, 077 65, 808 291, 597 548, 412 51,657 59, 188 42, 143 82, 265 312, 859 502, 612 60, 164 79, 708 43, 924 66, 224 262, 592 517,615 62. 341 57, 154 46, 426 61, 425 290, 269 508, 393 48, 730 60, 247 37, 410 77, 350 284, 656 519, 296 56, 990 61, 955 45. 518 72, 254 282, 579 526, 031 59, 737 73, 785 41, 151 60, 787 290, 571 743, 465 71, 169 148, 522 48, 449 115, 161 360, 164 549, 118 53, 541 90, 144 60, 164 63, 880 281, 389 540, 742 58, 392 72, 425 47, 211 66, 827 295, 887 21, 805 101, 914 112, 842 2,245 62, 877 37, 616 12, 689 5,529 21, 756 —12, 947 43, 357 2,398 65, 023 38,907 12, 913 5,536 21, 756 46, 270 41,422 3,840 62, 857 38, 235 12, 690 5,921 21, 759 -8, 790 28, 374 12, 165 21, 854 136,976 19, 183 15, 533 22, 013 176, 654 ' 3, 462 14, 341 22, 233 243, 381 26, 326 7,896 22, 382 188, 370 ' 9, 366 7,302 22, 695 289, 861 r 2, 375 8,800 22,951 137, 452 13, 223 76,864 ' 23, 190 23, 291 152, 219 — 103,092 17, 805 1,473 168, 129 158, 600 38, 869 12, 054 5,464 39, 112 12, 078 6,648 37, 819 12, 564 6,397 38, 646 13, 243 6,628 38, 214 13, 033 5,711 13, 160 5,147 12 255 4 962 332 273 182 194 10, 016 .902 7,015 .902 16, 828 .884 ••665 4,686 .902 ••250 6,975 .881 88 6,284 157 142 6,125 .880 6,177 .880 8,126 .880 «-89 3,656 .880 513 6,616 .902 678 4,807 .902 1,468 3,583 3,429 1,854 2,097 3,482 2,405 2,037 3,932 1,794 2,712 2,758 2,006 1,107 2,835 1,896 6,562 2,585 1 983 4,493 3,079 1,977 3,414 3,134 1,968 5,547 3,219 3 766 3,430 27, 278 183, 600 2,500 7,800 173, 300 89, 500 59, 200 24, 600 27, 519 182, 900 2,500 6,700 173, 700 89, 500 59, 300 24, 900 27, 809 185, 038 2,424 7,930 174, 684 88, 960 59, 948 25, 776 27, 851 1 184, 500 v 2, 400 v 6, 300 » 175, 800 v 90, 700 f 60, 000 * 25, 100 28, 155 28, 809 29, 206 28, 288 28, 417 »> 185, 200 9 187,300 v 189, 200 9 190, 500 v 192, 900 J» 2, 300 9 2, 100 * 2,300 9 2 100 J>2 200 v 6, 000 9 5, 600 * 5, 000 9 5, 500 P 7, 200 9 177, 000 * 177, 900 » 181, 600 »182, 700 » 185, 666 v 91, 400 * 92, 000 9 95 000 v 96, 300 v 98, 120 » 60, 300 ' 60 500 * 60 900 v 60, 600 *>61 221 f 25, 300 p 25 400 v 25 700 P 25, 800 P 26 325 28, 386 *>191 400 P 2 000 i > 4 300 *185, 100 P 97 gOO P 6i 700 P 25 600 28, 465 v 191, 500 J » 2 200 J> 5, 900 9 183, 400 *>95 700 p 62 000 P 25 600 28, 473 v 192 200 P 2 200 r>7 100 v 182, 900 P 94 800 t> 62 500 9 25 700 32.5 22.3 30.0 21.3 34.4 22.2 31.1 20.9 30 1 20 6 32 5 21 4 34 0 22 0 1 A4.Q MONETARY STATISTICS Gold and silver: Gold: 21, 806 Monetary stock, U. S mil. ofdol.. Net release from earmark §_ _.thous. of dol_. -111,239 G old exports. _ _ _ do. __ 125, 704 2,242 Gold imports do 63, 526 Production reported monthly total do 37, 951 Africa do 13, 034 Canada (incl Newfoundland) do 5,784 United States do Silver: 1,932 Exports _ _ _ do_ 17,486 Imports _. . _do .902 Price at New York dol. per fine oz__ Production: 1,755 Canada (incl Newfoundland) thous offineoz 1,903 Mexico _ do 4,371 United States _ do Money supply: 27, 119 Currency in circulation mil. of dol__ 183, 700 Deposits and currency, total . _ do 2,400 Foreign banks deposits, net do 8,800 U. S. Government balances _ do 172, 500 Deposits (adjusted) and currency, total.-do 89, 000 Demand deposits, adjusted do 59, 100 Time deposits __ _. do 24, 400 Currency outside banks do Turn-over of demand deposits except interbank and U. S. Government, annual rate: 35.5 New York City ratio of debits to deposits 22.5 Other leading cities do 27.0 20.0 r 31.7 21 8 30 4 20 9 31.4 22.0 4,848 880 1 783 37 9 22 6 PROFITS AND DIVIDENDS (QUARTERLY) Manufacturing corporations (Federal Reserve):! Profits after taxes, total (200 corps.) _ mil. of dol Durable goods, total (106 corps.) ... do Primarymetalsand products (39 corps.) do Machinery (27 corps.) do Automobiles and equipment (15 corps.) do Nondurable goods total (94 corps ) do Food and kindred products (28 corps.) do Chemicals andallied products (26 corps.) _do Petroleum refining (14 corps.).do Dividends, total (200 corps.) do. Durable goods (106 corps.) __ __ do Nondurable goods (94 corps.) _ do Electric utilities, profits after taxes (Fed. Res.)i mil of dol Railways and telephone cos. (see p. S-23). '877 r 118 762 4*?8 176 73 142 333 46 111 127 932 565 217 123 185 r 367 r 52 125 r 148 270 ••199 ••475 273 ••202 475 273 202 567 325 241 ••157 ••161 r 162 r Igl r839 510 188 90 194 ••368 497 193 82 183 ••342 MO •"61 ••128 123 '120 '469 r r SECURITIES ISSUED Commercial and Financial Chronicle: Securities issued, by type of security, total (new capital and refunding) mil. ofdol.. New capital, total do Domestic, total do Corporate... do Federal agencies do Municipal, State, etc do Foreign.. do Refunding, total _do Domestic, total do ___ Corporate ___do Federal agencies do Municipal, State, etc do 1,233 1,022 1,001 795 48 158 21 211 180 82 88 10 1,064 1,161 920 918 660 29 228 2 144 144 80 61 4 946 865 398 60 407 80 215 215 13 198 4 Securities and Exchange Commission: 1,740 1,516 Estimated gross proceeds, total _. do_ By type of security: 1,545 1,220 Bonds and notes, total do 814 528 Corporate _ do 196 143 Common stock do 52 100 Preferred stock do By type of issuer: 1,009 824 Corporate, total do 304 411 Manufacturing _ do 155 284 Public utility do Railroad do 30 20 426 24 Communication _ do 20 Real estate and financial do 36 731 692 Noncorporate, total __ do 451 520 U. S. Government. do 234 162 State and municipal. do. __ r Revised. 9 Preliminary. §Or increase in earmarked gold (—). JRevisions prior to 1st quarter of 1951fwill be shown later. 1,302 1,106 1,075 634 441 398 248 0 151 43 192 192 20 172 1 986 792 642 337 40 265 50 194 194 20 170 4 1,288 706 89 280 31 197 197 57 137 3 937 810 802 476 8 319 8 127 124 29 93 2 1,757 3,951 1,678 1,388 1 582 1,789 1 628 1 709 2 154 1 679 1,646 1,510 1 258 347 131 37 415 56 74 1 516 1 555 1 349 1 475 9 fl94 K-! r 637 89 22 3,723 597 152 76 606 131 104 48 89 748 388 213 14 4 50 825 367 253 26 3 124 515 144 193 18 52 75 1,009 3, 126 2, 830 1,163 545 253 171 9 3 29 843 656 152 581 343 284 834 321 966 937 463 107 368 29 322 322 16 288 18 313 31 35 421 107 128 378 169 120 23 9 15 655 316 201 18 16 65 1 203 1 134 765 243 651 397 976 836 815 517 0 297 22 140 140 47 89 4 399 104 175 679 218 273 76 37 16 949 655 289 1,093 883 838 562 0 276 45 211 205 83 102 19 840 422 274 23 49 22 869 601 257 1 232 930 920 541 39 349 1 ^02 302 10 71 221 xqe I 9Qfi 154 1 R1 in Of\Q i 0 19 1 coo 1 024 Kfi* QR7 i 999 ! ci c IAS SURVEY OF CURRENT BUSINESS Mav 1952 Unless otherwise stated, statistics through 1950 and descriptive notes are shown in the 1951 Statistical Supplement to the Survey S-19 1952 1951 March April May June July August September October November Decem ber January February March FINANCE—Continued SECURITIES ISSUED— Continued Securities and Exchange Commission— Continued New corporate security issues: Estimated net proceeds, total mil. of dol__ Proposed uses of proceeds: New money, total do Plant and equipment do _ Working capital _- _do Retirement of debt and stock, total, -do Funded debt - _ _ . do Other debt do___ Preferred stock do Other purposes _ do _ Proposed uses by major groups: Manufacturing, total do New money do Retirement of debt and stock do Public utility, total do Now money do Retirement of debt and stock do Railroad, total do New money _ _ do Retirement of debt and stock __do Communication, total do New money do _ _ Retirement of debt and stock do Real estate and financial, total. __ _ do New money do Retirement of debt and stock do State and municipal issues (Bond Buyer): Long-term . thous. of doL Short -term do 994 810 739 812 505 537 371 640 666 826 555 450 954 845 699 146 121 68 53 0 28 626 504 122 129 13 64 52 55 676 487 189 46 14 26 6 18 685 431 253 112 54 49 9 15 452 336 116 47 20 26 0 6 474 352 121 43 22 21 1 20 334 281 53 32 17 15 0 4 541 420 121 71 5 65 2 27 567 480 88 80 51 28 1 19 725 640 85 68 42 23 2 32 530 470 60 12 2 11 0 13 385 282 103 60 32 28 1 5 875 655 221 60 15 45 0) 19 298 219 73 151 97 36 30 30 0 423 422 0) 20 16 2 405 301 94 278 230 20 20 20 0 24 24 0) 35 30 2 384 353 20 209 204 3 14 14 0 4 4 0) 50 37 10 361 314 42 249 234 13 26 26 0 3 2 250 218 26 169 161 8 9 9 0 165 146 17 118 115 4 23 23 0 8 8 15 12 2 308 254 47 196 180 16 18 16 2 15 15 0) 63 50 1 213 181 26 268 247 21. 76 61 15 37 37 0) 15 12 1 416 357 39 269 246 23 22 22 0 48 48 1 22 16 2 304 294 5 154 151 3 17 17 0 1 1 0 11 9 1 268 227 38 120 100 20 23 23 0 3 3 0 10 10 0 366 336 20 393 365 28 12 12 0 6 6 123 73 49 141 115 23 190 180 11 18 18 0 51 51 0) 74 71 1 169, 623 89, 529 237, 662 191, 699 433, 961 162, 557 335, 166 105,887 364, 091 74, 901 156,214 84, 760 249, 434 36, 315 381, 580 191, 104 299, 109 210,915 265, 503 215, 190 574,694 93, 863 181 426 155 409 222 434 185 389 175 445 163 458 249 308 220 340 286 454 242 380 1,304 918 715 1,286 879 661 1,287 855 681 364 1,275 834 680 1,266 825 672 1,260 816 624 1,290 843 640 1,291 853 653 1,279 805 649 99.23 99.73 73. 66 98.72 99.22 72.93 98.29 98. 78 73.00 117.1 132. 1 98.90 118.0 132.0 99.10 53, 065 60, 666 0) g 3 0) 28 14 1 0) r 0) 20 15 2 303, 614 15n, 037 144, 680 138, 444 248 338 220 304 191 286 378 1, 292 816 695 1,289 809 633 1,280 890 652 1,293 756 734 97.82 98.30 72.65 97.43 97.92 72.44 98.01 98.49 73. 48 97. 83 98.30 73.39 98. 26 98.75 73.07 116.9 131.3 98.22 115. 3 131. 6 97.52 114.8 130.9 96. 85 115.6 130. 8 96. 27 116. 5 132. 1 96. 77 115.9 131. 5 96. 87 54, 075 62, 621 66, 533 79, 818 47, 052 56, 942 58, 376 71, 347 63, 229 75, 892 51,332 61,626 51, 113 59, 745 51,120 57, 957 52, 560 60, 534 64, 609 75, 600 45. 275 53, 328 56, 026 67, 670 60, 802 72, 524 49, 298 58,010 49, 040 57, 821 52,111 0 52, 1 1 1 45, 548 6,515 56,211 0 56, 211 49, 960 6,192 67, 291 10 67, 281 58, 3,00 8, 867 48, 559 0 48, 559 41,895 6,613 60, 525 3 60, 522 54, 32f> 6, 079 66, 971 68 66, 903 59, 389 7, 399 49, 109 0 49, 109 42, 912 6,174 58, 123 30 58. 093 52, 190 5,858 99, 271 97, 580 1 , 399 100, 045 97, 846 1,899 97, 925 96, 290 1, 347 99, 197 97, 050 1,847 97, 511 95, 876 1, 345 99, 206 97, 063 1,843 97, 151 95, 427 1,339 99,318 97, 075 1,843 95, 634 93, 920 1, 332 98, 158 95, 920 1,839 96, 269 94, 537 1,349 98, 221 95, 985 1,836 96, 1 58 94, 431 1 , 344 98, 292 96, ()')() 1 , 832 96, 699 94, 978 1,338 98,415 96, 183 1, 831 3.12 3.08 3.13 3.20 3.25 3.24 3.18 3.19 2.88 2 92 3.17 3.50 2.84 2.88 3. 15 3.46 2.89 2.93 3.18 3.50 2.96 3.02 3.26 3.56 3.01 3. 00 3.31 3.61 2. 98 3. 05 3. 32 3.59 2.93 3.01 3 25 3. 53 2. 96 3. 03 3.24 3.51 2.92 3.13 2.89 3.09 3.27 2.93 3.14 3.31 2.97 3.21 3.42 3.00 3.24 3. 50 3.00 3. 23 3. 48 2.97 3.19 3. 38 2.99 3.21 3. 30 2.00 2.04 9 57 2. 05 2.05 2.56 2.04 2.08 2.61 2.07 2.07 2.66 2.11 2. 10 2.70 2.08 2.10 2.74 2.07 2.04 2.71 2. 05 2.07 2. 70 T COMMODITY MARKETS Volume of trading in grain futures: Corn Wheat mil. of bu__ do SECURITY MARKETS Brokers' Balances (IN. Y. S. E. Members Carrying Margin Accounts) Ca^h on hand and in banks Customers' debit balances (not) Customers' free credit balances. Money borrowed _ _ mil of dol --- do do do Bonds Prices: Average price of all listed bonds (N. Y. S. E.), 99.30 98.72 98.28 97.86 total§. dollars.. 98.48 99.24 99.77 98.79 98.37 Domestic - _ _ _ _ _ _ _ do 98.98 71.94 71.85 71.70 Foreign _ _ do 71.78 73.10 Standard and Poor's Corporation: Industrial, utility, and railroad (Al-4-issues): 119.4 117.8 117.4 116.6 Composite (17 bonds) dol. per $100 bond__ 116.2 135.5 131. 9 128.6 131.1 Domestic municipal (15 bonds) _ . - _do ___ 129.4 100. 28 98.93 97.90 97.62 TT. S. Treasury bonds, taxable do 97.93 Pales: Total, excluding U. S. Government bonds: All registered exchanges: 72, 842 106, 614 69, 822 54, 048 Market value thous. of dol 52, 767 83, 272 80, 270 108, 793 Face value do 63, 267 66, 368 New York Stock Exchange: 70, 081 104,014 67, 378 51, 192 Market value __. do 50, 590 79, 406 105, 659 77, 369 60, 114 Face value do 62, 649 Now York Stock Exchange, exclusive of stopped 76, 030 76, 668 67, 814 55, 399 sales, face value, total § thous. of dol.. 56, 400 9 0 1,946 5 TJ. S. Government do 74, 084 76, 659 67, 809 55, 399 Other than U. S. Government, total § do 56, 398 67,413 68,618 61, 391 49, 191 Domestic do 45, 698 8,009 6 ? 601 Foreign _ _ _ do 6,408 6, 179 10, 650 Value, issues listed on N. Y. S. E.: 100, 247 99, 938 97, 818 Market value, total, all issues§ mil. of d o l _ _ 114, 382 98, 457 112,758 98, 630 98, 278 96, 163 Domestic -_ _ _ _ _ do 96, 777 1,373 1,377 1, 369 1 , 366 Foreign do 1, 389 101, 545 115, 183 Face value, total, all issues§ do 101, 692 99, 958 99, 975 113,019 99, 384 99, 482 97, 754 Domestic ' do 97, 775 1, 914 1,912 Foreign do 1,910 1,904 1,900 Yields: 2.96 Domestic corporate (Moody's) percent 3.07 3.09 3.16 3.17 By ratings: 2.87 Aaa. _ ._ do 2.78 2.89 2.94 2.94 2.82 2.93 Aa do 2.93 2.99 2.99 A . _ _ do 3.00 3.11 3.15 3.21 3.23 Baa _._ do 3.23 3.35 3.40 3.49 3.53 By groups: Industrial.__ _ _ _ _ _ _ do 2.81 2.89 2.90 2.96 2.97 Public utility do 2.96 3.07 3.10 3.18 3.19 Railroad _ ___ ... _ _ do 3.11 3.24 3.28 3.33 3.36 Domestic municipal: Bond Buyer (20 bonds) ___ do 1,82 1.94 2.21 2.07 2.06 Standard and Poor's Corp. (15 bonds) do 1.87 2. 05 2.09 2.22 2.18 U. S. Treasury bonds, taxable do 2.47 2.56 2.63 2.65 2.63 r Revised. * Less than $500,000. fSnles and value figures include bonds of the In ernationa Bank for ReconstriKi tion and I)evelopme nt all listed bonds. not shovvn separate ly; these b onds are ii icluded als o in com piiting avera ge price of SURVEY OF CURRENT BUSINESS S-20 Unless otherwise stated, statistics through 1950 and descriptive notes are shown in the 1951 Statistical Supplement to the Survey May 195i 1952 1951 March April May June July August September October November December January February FINANCE—Continued SECURITY MARKETS— Continued Stocks Cash dividend payments publicly reported: Total dividend payments.. mil. of dol Finance _ do_ ._ Manufacturing _ _ do Mining __ _ do Public utilities: Communications _do_ .. Heat light, and power do Railroad . _ _ do .. Trade do Miscellaneous do Dividend rates, prices, yields, and earnings, 200 common stocks (Moody's) : Dividends per share, annual rate (200 stocks) dollars.. Industrial (125 stocks) do Public utility (24 stocks) do Railroad (25 stocks) _ __ _ _ __do Bank (15 stocks) do Insurance (10 stocks) _ do_ _ 1, 066. 2 70.9 688.3 77.1 516.4 83.1 204.3 8.0 209.5 40.1 107.9 1.4 1,116.3 76.8 729.6 87.8 524. 6 124.1 203.8 5.8 216.7 41.6 102. 2 2.0 1, 132. 7 80.6 757. 3 91.1 532.9 104.3 211.5 7.3 224.0 43.5 106.1 1.2 1, 805. 0 212.6 1,128.9 151. 4 505. 7 107.4 169. 6 4.7 181.4 42.3 64.4 2.3 1, 202. 1 75.9 813. 5 97.6 38.3 67.4 60.3 40.3 23.6 74.9 54.4 25.0 54.9 11.8 .7 44.7 3.5 8.5 2.7 24.3 69.1 55.0 47.8 25.9 74.8 51.8 11.1 39.3 13.9 .7 47.1 10.9 7.7 4.5 25.1 66.6 40.7 50.0 21.3 82.2 56.1 13.0 41.7 16.8 .7 49.4 10.9 8.2 4.0 36.8 80.9 69.5 80.4 44.5 83.4 53.2 17.8 56.8 12.8 .7 46.3 7.1 15.0 3.3 25.5 74.2 51.6 39.8 24.0 4.11 4.49 1.86 2.55 2.65 2.71 4.15 4.52 1.87 2.58 2.65 2.73 4.15 4.51 1.87 2.58 2.65 2.73 4.15 4.53 1.87 2.58 2. 63 2.73 4.18 4.55 1.87 2.58 2.63 2.73 4.11 4.45 1.88 2.58 2.63 2.73 4.12 4.47 1.90 2. 55 2.63 2.73 4.09 4.43 1.90 2.55 2.63 2.73 3.92 4.19 1.90 2.58 2.63 2.73 3.88 4.13 1.90 2. 55 2.64 2.84 3.92 4.18 1.90 2. 55 2.64 2.84 3.92 4.18 1.89 2.64 2.64 2.84 3.92 4.19 1.91 2. 65 2.60 2.84 Price per share, end of month (200 stocks). -do Industrial (125 stocks) _ . do__ Public utility (24 stocks) do Railroad (25 stocks) _ do 64. 25 67.40 31.77 40.52 67.20 71.15 31.78 42.17 65. 39 68.88 31.99 40.04 63.40 66. 75 31.70 36.68 67. 45 71.28 32. 67 39.93 70.10 74.46 33.13 40.76 69.73 74.09 32.87 41. 57 67.97 72.07 32. 94 39.79 67.80 71.48 33.26 39.97 69.94 74.24 33. 85 40.00 70.90 75. 09 34.42 42.26 68.39 72.00 34.41 41. 59 34.73 45.28 Yield (200 stocks) percent Industrial (125 stocks) do Public utility (24 stocks) do Railroad (25 stocks) ._ __do_ Bank (15 stocks) do Insurance (10 stocks) __do_ Earnings per share (at annual rate), quarterly: Industriil (125 stocks) dollars Public utility (24 stocks) do 6.40 6.66 5.85 6.29 4.61 3.45 6.18 6.35 5.88 6.12 4.74 3.41 6.35 6.55 5.85 6.44 4.77 3.49 6.55 6.79 5.90 7.03 4.86 3.48 6.20 6.38 5.72 6.46 4.79 3.35 5.86 5.98 5.67 6.33 4.67 3.20 5.91 6.03 5.78 6.13 4.70 3.28 6.02 6.15 5.77 6.41 4.77 3.44 5.78 5.86 5.71 6.45 4.64 3.47 5. 55 5. 56 5. 61 6.38 4.45 3.47 5.53 5. 57 5. 52 6.03 4.41 3.38 5.73 5.81 5.49 6.35 4.50 3.41 5.49 5. 54 5.50 5.85 4.41 3.37 Dividend yields, preferred stocks, 11 high-grade (Standard and Poor's Corp.).. percent _ Prices: Dow-Jones & Co., Inc. (65 stocks). _dol. per share.. Industrial (30 stocks) do Public utility (15 stocks) do Railroad (20 stocks) do Standard and Poor's Corporation: Industrial, public utility, and railroad:? Combined index (416 stocks)... 1935-39 =100.. Industrial, total (365 stocks) _ _ _ ... _ _ d o Capital goods (121 stocks) _ do Consumers' goods (182 stocks) do. __ Public utility (31 stocks) do Railroad (20 stocks) _ __do Banks N Y C (19 stocks) do Fire and marine insurance (18 stocks) do Sales (Securities and Exchange Commission): Total on all registered exchanges: Market value mil. of dol_. Shares sold thousands. . On New York Stock Exchange: Market value mil. of dol . Shares sold thousandsExclusive of odd lot and stopped sales (N Y Times) thousands Shares listed, New York Stock Exchange: Market value, all listed shares mil. of dol__ Number of shares listed ...millions— r 7. 62 2.60 3.48 r '7.42 2.53 5.52 r 6.36 2.44 4 71 8 09 2.44 12 94 4.11 4.15 4.17 4.20 4.13 4.16 4.19 4.23 4.28 4.26 4.22 4.16 92.39 249. 50 43.03 82.66 92.86 253. 36 42.36 82.59 92. 57 254. 36 42.28 81.37 90.46 249. 32 42. 55 78.06 91.29 253. 60 43. 75 77.04 95.19 264. 92 45. 06 80.53 98.11 273. 36 45.40 83.91 97.82 269. 73 46.04 84.25 94.44 259. 61 46.22 79.73 96. 73 266. 09 46.72 82.30 99.39 27.1. 71 48.61 84.81 98. 31 265. 19 48.87 85.05 100. 02 264. 48 170. 3 184.4 175.0 169.0 111.2 148.7 110.2 180.7 172.3 187.3 179.4 168. 8 110.2 148.7 106.1 181.9 173.9 189.3 181.9 167.9 110.5 147.5 105.6 183.4 171.7 186.9 179.2 163. 1 110.2 141.6 105.4 182.7 172.8 188.1 179.9 163.7 111.5 139.4 104.2 184.9 181.5 198.3 190.7 168.0 114.4 147.1 105.8 193.0 187.3 205. 2 197.1 172.9 115. 8 152. 8 108.0 195.4 185. 0 202.3 193. 3 171.4 115.2 154. 7 106.4 187.5 177.7 193. 3 182.6 164.6 114.7 144.2 109.0 182.9 182. 5 199.1 189.4 167. 6 115. 5 150. 5 110.2 188. 5 187.1 204. 3 192.4 169.2 117.0 155. 4 115. 4 194.0 183. 2 199.1 184.7 166. 0 117.5 155. 0 114. 5 193. 3 185.2 201.4 184.4 167.2 117 7 1 61 . 3 113 3 195.9 1,683 71, 480 1,547 67, 024 2,030 74, 220 1,337 52, 456 1,354 53,154 1,626 59, 483 1,707 66, 385 2,045 85, 294 1,413 65, 122 1,501 63, 170 1,922 71, 188 1, 598 62, 651 1,451 63, 006 1,442 53, 327 1,320 50, 583 r 1,748 56, 928 1, 143 40, 667 1,171 42, 438 1,393 44, 583 1,445 48, 204 1,714 60, 208 r 1,279 44, 886 1,618 49, 431 1. 351 42, 296 1,219 43, 464 r 1, 196 47, 449 35, 625 34, 290 38, 457 27, 402 27, 989 33, 642 36, 395 42, 531 25, 677 30, 083 37, 141 27, 195 29,513 102, 747 2,437 100, 120 2, 452 97, 920 2,528 104, 610 2, 557 108, 307 2,568 108, 911 2,581 106, 439 2,592 106, 309 2,604 109, 484 2,616 111,580 2,627 108, 471 2, 634 11?,, 099 2, 644 do do 4 375 3,414 396 565 5,283 4,091 471 721 5,069 3,842 458 769 5, 413 4,077 580 756 do 3 915 3,217 86 612 3,938 3,133 99 706 3 708 2,680 93 935 3 550 2, 633 122 795 +460 +1,345 +1, 361 +1, 863 do r] —1,147 112 —1 035 -1,375 -96 -1,279 — 1 221 —90 -1,131 -1. 196 -107 -1,089 "U S Ions- and short-term capital (net) total do Privite do —353 —294 —59 -370 -287 -83 — 11 +16 -27 -319 -329 +10 +1 +108 +12 +384 +893 +55 —292 -709 C " - . Merchandise adjusted in co e on loieig esi T i . r T nil iteral transfers (net) total f- n and short term ca itil (net) do Increase (— ) or decrease (+) in U. S. gold stock mil of dol +237 +151 +146 Errors and omissions. --do __. f 'Revised. Preliminary. § Number of stocks represents number currently used; the change in the number does not affect the continuity of the series, 49.80 89. 55 98,112 2,421 BALANCE OF PAYMENTS (QUARTERLY) t r\ ' ""' t<? nhrond P 6 88 4.00 INTERNATIONAL TRANSACTIONS OF THE UNITED STATES TVT° Ti° !v "* H ' Tincome' on mve ' ' if 71.35 75. 63 -23 SURVEY OF CURRENT BUSINESS May 1952 Unless otherwise stated, statistics through 1950 and descriptive notes are shown in the 1951 Statistical Supplement to the Survey S-21 1952 1951 March April May June July August Septem- ber October Novern- ber Decem- ber January Febru- ary March INTERNATIONAL TRANSACTIONS OF THE UNITED STATES—Continued FOREIGN TRADE Indexes Exports of U. S. merchandise: Quantity Value _ Unit value Imports for consumption: Quantity Value Unit value Agricultural products, quantity: Exports, domestic, total: Unadjusted Adjusted - _ Total, excluding cotton: Unadjusted Adjusted Imports for consumption: Unadjusted Adjusted _ 1936-38=100 do do 253 519 206 265 555 210 260 550 212 250 525 210 232 484 209 249 516 207 249 501 202 233 471 202 279 565 203 281 585 208 - do _ do do 167 504 302 152 471 309 148 461 311 140 446 319 137 433 316 139 435 313 118 364 307 141 425 301 135 403 298 131 390 299 1924-29=100 _ do 104 120 130 165 105 132 92 117 74 101 90 99 106 86 117 81 136 103 - -- do do - 155 181 190 231 155 174 150 177 126 157 155 151 157 125 149 113 do __ do _ 132 116 112 104 104 107 99 109 103 114 107 116 91 95 6,232 7,537 8,758 7,560 9,714 7,849 9,526 8,193 8,865 8,033 11,171 7, 642 10,931 6, 673 _ ___ 245 506 206 261 540 207 149 446 147 439 298 148 116 129 123 125 151 158 138 157 141 157 163 164 207 102 103 102 108 93 92 121 116 120 118 10, 605 7,873 9,400 8,310 6,319 r Shipping Weight Water-borne trade: Exports, incl. reexports'! General imports thous. of long tons_. -- do _ 6, 899 Value Exports, including reexports, total<[ mil. ofdol__ By geographic regions: Africa thous. of dol Asia and Oceania - do Europe __ -- - -do _ Northern North America _ - - do Southern North America do__ South America do Total exports by leading countries: Africa: Egypt do Union of South Africa do Asia and Oceania: Australia including New Guinea do __ British M^alaya do China© - -do India and Pakistan _ _ do IP pan do Indonesia - - - do _ Republic of the Philippines _. __ _ do __ Europe: France - do Germany do_ Italv do Union of Soviet Socialist Republics do United Kingdom do North and South America: Canada, incl. Newfoundland and Labrador Latin-American Republics, total.. Argentina Brazil Chile Colombia Cuba Mexico -Venezuela __. . do _ . do do do do do do do .. 1,285 1,370 1, 354 1,294 1,190 1, 267 1,232 1,155 1,388 1,435 1,247 1,328 50, 184 211, 362 319, 941 232, 093 163, 047 174,408 48, 199 233, 903 385, 301 263, 716 149, 135 172, 143 59, 051 185, 031 367, 622 255, 651 140, 068 174, 187 48, 590 192, 425 340, 030 236, 891 138, 646 186, 304 56, 400 190, 523 285, 122 202, 552 136, 429 182, 787 58, 138 198, 706 307, 886 203, 158 146, 970 198,315 58, 477 205, 651 330, 945 200, 248 136,504 177, 214 34, 204 182, 430 346, 768 214, 670 131, 301 133,913 46, 383 271, 861 376, 891 208, 123 155, 444 187, 279 51, 379 294, 190 438, 770 180, 749 153, 906 205, 342 48, 346 222, 073 385, 795 192, 265 135, 460 152, 702 55 557 256, 707 338, 483 203, 655 149,414 188, 038 4, 446 19, 192 4,794 24, 563 8,078 29, 089 7, 313 21, 821 6,804 23, 899 8,639 25, 477 10, 624 25, 482 7,534 13, 859 18, 890 5,609 4, 033 21, 503 7,718 22, 166 5, 757 17, 416 15, 167 4,304 0 34, 535 67, 903 18, 368 24, 107 13, 168 5,462 0 39, 527 73, 194 15, 799 27, 241 8,270 4,274 0 35, 465 51, 122 15,318 24, 026 12, 874 4,447 0 30, 360 45, 076 14, 628 34, 323 16, 763 5,489 0 33, 751 36, 720 14, 692 31, 273 13, 579 6, 003 0 41, 639 34, 303 15,341 35, 335 13, 936 4,887 0 36, 870 39, 456 16, 225 35, 820 14, 304 3,648 0 41, 423 40, 845 7,177 27, 044 24, 673 5,139 0) 78, 454 58, 122 26, 026 18, 558 17, 246 4,002 0 77, 879 51, 447 11, 786 25, 558 27, 290 40, 808 44, 385 2 63, 515 41,331 44, 296 62, 470 4 69, 496 36, 553 40, 158 72, 198 1 56, 423 39, 535 41, 786 38, 689 13 68, 213 37, 379 33, 688 20, 505 7 71, 556 33, 214 41,279 24, 222 2 77, 999 34, 268 49, 223 20, 711 0) 97, 170 33, 193 44, 727 24, 825 232, 087 322, 314 16, 333 49, 956 16, 538 19, 063 59, 705 60, 226 46, 260 263, 701 307, 994 19, 010 45, 919 13, 277 22, 250 48, 834 61,916 45, 536 255, 608 300, 582 20, 231 54, 610 16,218 20, 795 40, 752 60, 952 38, 487 236, 889 312,353 24, 368 58, 337 16, 554 24, 006 42, 627 60, 380 39, 531 202, 497 307, 195 23, 960 61, 060 17, 408 20, 089 41, 739 59, 486 35, 247 203, 155 330, 133 25, 220 69, 125 15, 902 19, 348 43,071 64, 391 39, 025 200, 182 298, 074 19, 723 74, 292 11, 625 17, 145 38, 829 59, 538 32, 524 214, 625 252, 965 13, 904 51, 822 0) 99, 809 7,647 13, 191 39, 865 62, 805 27, 702 5,047 3,884 32, 579 0 82, 359 54, 586 12, 403 41, 028 0) 69, 665 44, 582 10, 343 23, 052 40, 875 47, 482 34, 723 0 96, 018 48, 152 55, 299 43, 954 5 103, 084 41,079 29, 308 47, 137 40, 372 2 75, 810 208, 123 326, 970 21, 558 71, 208 12, 647 18, 949 48, 988 62, 345 40, 122 180, 748 341, 234 19, 238 81, 335 19, 346 20, 256 44, 168 62, 239 39, 172 192,265 203, 655 321, 003 14, 143 75, 329 11,928 20, 568 49, 409 54, 526 43, 450 12,421 63, 134 41, 584 5 78, 393 273, 293 14, 750 57, 904 10, 460 15, 722 39, 910 54, 820 33, 620 Exports of U. S. merchandise, totalj mil. of doL_ By economic classes: Crude materials thous. of dol.. Crude foodstuffs . do Manufactured foodstuffs and beverages. . .do Semimanufactures 9 do Finished manufactures 9 __ _ do By principal commodities: Agricultural products, total do Cotton, unmanufactured . _ do Fruits, vegetables, and preparations do Grains and preparations. _ _ _ do Packing-house products do 1,266 1,353 1,340 1,280 1,179 1,258 1,222 1,147 1,378 1,425 1,233 1,315 173, 226 123, 998 75, 166 131,429 762, 295 228, 512 163, 562 82, 412 134, 549 743, 808 203, 953 137, 880 71, 443 142, 615 784, 215 148, 461 135, 776 74, 229 153, 929 767, 932 128, 030 105, 050 72, 807 155,016 718, 225 152, 392 118,190 78, 471 149, 528 759, 212 207, 524 106,297 65, 570 145, 292 696, 835 272, 463 98, 249 61, 709 127, 323 587, 341 300, 099 108, 902 336, 658 109, 783 69, 003 160, 702 749, 176 255, 394 127, 575 60, 389 137, 163 652, 704 228, 045 128, 777 74, 126 138, 742 745, 774 332, 396 83, 756 17,917 130, 715 25, 180 419, 984 117,761 14, 523 177, 297 29, 339 354, 602 93, 532 15, 912 138, 191 26, 797 310, 744 50, 660 16,417 131, 766 23, 552 251, 719 32, 663 13, 799 111,027 24, 130 276, 985 32, 139 17, 099 128, 156 19, 554 307, 653 70, 787 16,738 115,935 18, 703 349, 603 116, 856 21, 332 103, 925 16, 292 415, 443 165, 771 20, 978 119, 198 24, 618 459, 274 213, 167 20, 540 376, 507 148, 921 20, 144 129, 674 27, 048 377, 014 132, 039 19, 489 145, 121 26, 936 Nonagricultural products, total do . _ _ Aircraft, parts, and accessories§ _.do Automobiles, parts, and accessories §cf _ _do Chemicals and related products cf do Coppercf do Iron and steel-mill products do 933, 716 1, 981 107, 816 79, 012 7, 391 55, 384 932, 859 1,850 110,488 82, 929 9,261 48, 125 985, 503 1,007 110, 500 86, 144 7, 170 50, 191 969, 583 3,650 104, 652 93, 417 7,087 47, 390 927, 410 2,565 103, 04S 89, 591 7, 246 48, 588 980, 807 1,536 103, 270 91,811 3, 608 48, 955 913, 864 2, 362 101, 188 85, 644 2, 964 54, 605 797, 482 457 75, 799 71, 246 962, 336 462 97, 346 90, 358 9, 963 56, 500 966, 049 573 96, 655 89, 087 10, 271 67, 555 856, 717 2 584 77, 940 76, 149 938, 449 2 1, 448 100, 542 78,617 8,685 63,080 6,679 45, 973 73,316 148, 218 747, 243 115,441 27, 587 7,324 62, 962 1,416 1,403 223, 846 227, 414 220, 758 219, 062 214, 991 217,286 193, 706 212, 877 171, 991 214, 210 237, 999 240, 217 12, 584 13, 621 13,017 13, 320 14,015 10, 818 10, 631 9,574 12, 344 15, 301 9, 384 10, 557 31, 765 31, 173 28, 508 25, If !-0 28, 742 27, 251 22, 956 21, 163 22, 294 24, 406 28, 478 29, 840 47, 132 48, 13(i 53, 222 50, 247 48,311 46, 354 41, 602 50, 656 36, 481 47, 227 49, 005 48, 968 16, 237 18,284 15,687 17, 025 17,279 19, 823 15, 346 15, 692 20, 327 12, 059 17,391 18, 303 101, 370 99. 143 98, 823 96, 901 98, 82f> 95, 590 103, 612 82, 231 88, 970 103, 356 118, 781 116,642 56, 260 58, 584 65, 061 60, 974 85, 145 76, 389 65, 017 64, 207 83, 540 73, 896 69, 763 73, 519 85, 530 79, 036 75, 645 72, 721 56, 125 62, 891 62, 354 61, 305 77, 546 59, 888 49, 742 69, 927 r Revised. 1 Less than $500. 2 Data beginn ing Januar y 1952 excl ude additicmal items classified a 3 "special c ategory." See note "§". fl^otal expor ;s and various compo lent items include shipments under the Mutual Security Pro£'ram (forrricrly the INMutual DC 'ense Assis tance Pro^r ram) as foHows (mil of dol):M"arch 1951- March 1952 , respectiv cly— 100.7; 83.5; 129.2; 115.1; 85.0; 115.3; 81.2; 58.8; 84.1; 59.6; 65.0; 78.7; 94.2. Beginning July 1950, certain iteius classed is "special category" exports, alt hough incl uded in tot al exports, are excluc ed from watcr-borne trade and from area and country data. 0 Incluc .ing Mane miria begiiining Jam lary 1952. 9 Data for semimanufactures reported as "special category, 1 ype 1" are included \\ ith finishec 1 manufactures. § Excludes "special category" exports not shown t eparately for security reasons. c? Data beginning January 1951 have been adjusted to confo nn to the 1952 revisioii of the export schedu e. Machinery, total§d* do___ Agricultural __ „ do Tractors, parts, and accessories § lo Electrical §cf lo Metal working do^ . _ _ Other industrial cf-.. _. lo Petroleum and products lo Textiles and manufactures lo. SURVEY OF CUERENT BUSINESS S-22 . stated, statistics through Unless other-wise 1950 and descriptive notes are shown in the 1951 Statistical Supplement to the Survey May 1952 1951 March April May June July 1952 August September October November December January February March 962, 500 INTERNATIONAL TRANSACTIONS OF THE UNITED STATES—Continued FOREIGN TRADE— Continued Value— Continued General imports, total thous. of dol__ 1,099,903 Bv geographic regions: 67, 082 Africa do _ _ _ 267, 237 Asia and Oceania do 192, 860 Europe _ _ __do 190, 835 Northern North America do 129, 951 Southern North America do 251, 938 South America _ do By leading countries: Africa: 291 Egypt — do_ _ 15, 870 Union of South Africa do_ _ Asia and Oceania: 42, 247 Australia, including New Guinea. do 38, 447 British Malaya . __ _ _ _ _ _ d o _ 4,946 China© do 37, 547 India and Pakistan _ do _ 20, 097 Japan - do _ 25, 550 Indonesia - -- _ _ d o 29, 514 Republic of the Philippines do Europe: 31, 776 France __ __ _ _ _ _ -_ _ d o _ 19,117 Germany do 13, 588 Italy - - do _ 1,338 Union of Soviet Socialist Republics do 36, 681 United Kingdom do North and South America: Canada, incl. Newfoundland and Labrador thous. of dol__ 190, 811 363, 189 Latin- American Republics, total _ do 34, 734 Argentina _ _ _ _ _ _ __ _ do . _ 100, 704 Brazil do 15, 400 Chile __ _ -_ _ do _ 27, 616 Colombia do 43, 636 Cuba do 33, 055 Mexico _ do 26, 551 Venezuela do 1,032,675 1,017,687 929, 802 894, 599 880, 355 721, 071 833, 360 818, 274 800, 558 921, 638 892,094 69, 457 270, 121 181, 500 191, 769 118, 044 201, 783 76, 227 242, 572 189, 702 202, 106 99, 497 207, 582 55, 326 235, 728 179. 868 191,822 95,419 171, 637 39, 758 223, 954 176, 527 189,588 100, 634 161,137 40, 225 229 332 161,084 192, 450 84, 712 172, 554 25, 911 157,934 14P.415 171 896 76,172 142, 743 40, 374 143 678 147 682 218 424 90, 256 192 946 37, 660 146 608 157 294 199 584 88, 503 188 626 34, 960 151 875 152 846 189 892 93, 264 177, 721 68 402 179 961 175 881 187 036 127, 675 189 685 68 60^ 183 051 153 941 176 7^9 131,814 177 895 19, 652 15, 202 12, 936 12, 669 5,161 14,390 268 8,561 789 7,851 275 5,402 660 9,629 812 11, 002 1, 063 6,470 16 453 11 844 18 907 10 066 58, 351 43, 294 2,722 38, 003 17,121 19, 751 31, 165 62, 048 24, 378 2,886 32,117 26, 810 19, 526 30, 382 49, 933 36,315 2, 062 36, 320 16,557 17, 236 25, 501 22, 859 52, 373 2,242 32, 401 15,013 24,911 23, 374 39, 265 39, 001 1,634 24, 394 18, 246 29, 665 22, 302 7,105 31,941 1,241 17,487 12, 297 19, 744 19, 201 14, 898 27, 872 1 136 19, 903 14, 369 19, 457 17,313 9,616 26, 479 2 719 19', 062 15 894 17, 297 15, 882 22, 486 16,907 4 8'13 19,317 15 021 20, 127 15, 85S 8, 519 38 536 4 902 22 437 17 772 29 704 14, 785 16, 605 39, 366 5 Of# 27, PPO 14 5 ?0 23, 281 17, 213 26, 390 18,217 13, 229 2,207 42, 598 28, 066 21,414 10, 967 1,625 45, 712 21,375 24, 667 12, 475 2,790 38, 701 21,239 24, 558 9,763 2,014 44,311 24, 816 21, 183 10, 698 3,259 39, 499 16, 332 16,912 9,502 1,141 33, 251 15,453 19,165 8,884 3,311 33, 372 13, 635 16, 630 12, 364 3,088 40 269 15, 172 14, 806 12,953 2,251 35, 422 20, 364 17 509 11 321 1,150 39 013 14, 737 15 999 13,019 506 31, 233 191,604 303,315 32, 845 64, 456 27, 584 19, 237 41,289 29, 124 25, 866 202, 098 291, 602 29, 975 68, 528 22, 076 27, 176 33, 026 26, 373 30, 966 191, 671 251,110 16, 805 65, 068 15, 557 26, 894 34, 073 23, 951 27, 294 189, 287 248, 340 11,970 54, 670 10,815 37, 203 39,117 26, 025 26, 733 192, 137 244, 348 10, 486 65, 556 18, 247 33, 541 40, 381 18,885 25, 827 171, 259 208, 190 8,221 62, 976 13, 863 22, 851 34, 512 20, 554 22, 208 218, 039 264, 796 6,643 83, 440 18, 437 34, 305 35, 501 26, 426 30, 119 199, 568 260, 120 6,781 89, 607 18, 197 34, 610 31,417 27, 153 25, 822 189, 887 249, 777 7,893 84, 857 11,692 36, 596 13, 360 32, 859 27, 333 187, 035 293, 294 8,294 69, 867 22 246 42 Oil 30, 577 41,169 33, 927 176, 785 287, 913 7, 309 80, 426 13, 502 33, 952 32, 480 36, 177 29, 889 1,033,534 965, 686 945, 793 914, 530 887, 125 892, 983 745, 850 872, 242 827, 041 800, 544 914, 910 901,073 309, 444 233, 978 93, 103 227, 037 169, 974 337, C49 159, 548 89, 546 215,764 163, 179 297, 629 171, 225 91, 544 221, 239 164, 156 299, 748 147, 677 92, 570 216, 519 158,016 293, 043 136, 598 92, 926 198, 969 165, 588 289, 191 144,026 88,418 204, 965 166, 383 237, 220 122, 234 76, 220 169, 267 140, 909 256, 788 167, 016 93, 423 192, 522 162, 493 213, 237 184, 034 80, 665 183, 271 164, 935 216,752 187, 259 58, 687 183. 556 154, 290 269, 233 193, 779 79, 269 205, 170 167, 459 269, 834 207, 047 75, 617 186, 323 162, 252 538, 873 153, 040 10, 728 74, 347 2,081 40, 626 84, 842 494, 661 11, 798 479, 006 96, 645 10, 858 73, 232 1,626 39, 717 105, 037 486, 680 16, 638 452, 248 100, 701 13, 038 51, 853 1,216 33, 985 84, 706 493, 545 8,537 428, 144 90, 657 13,399 69, 369 1,287 32, 399 70, 942 486, 386 8,913 405, 553 86, 897 15, 187 87, 733 1,035 38, 655 48, 000 481, 572 7,503 412, 895 87, 818 14, 540 76, 837 1,625 38, 043 57, 856 480, 088 8,061 333, 443 80,719 14, 272 59, 282 2,003 30, 063 34, 131 412, 407 5,336 388, 157 117,074 9,757 52, 911 2,549 30, 207 42, 153 483, 085 7,515 378, 975 127, 025 5,826 54, 489 2, 059 24, 379 30, 728 448, 066 5, 889 360, 292 138, 732 5,154 43, 997 1,730 7, 566 35,215 440, 252 9,355 437, 235 134, 047 5,493 80, 393 3,865 25, 987 37, 906 477, 675 6,571 439, 207 153, 943 4,027 73, 821 2,728 29, 394 33, 648 461,865 6,352 75, 522 17, 959 22, 680 31,209 44, 057 50 601 69, 182 21, 909 13,297 29, 240 39, 356 51 , 223 57, 425 23, 308 8, 03G 38, 598 43, 525 52, 425 71,740 24, 457 12, 930 44, 995 41,361 52, 578 67, 450 23, 493 13, 090 42, 181 42, 994 48, 447 78, 193 30, 744 10, 251 35, 240 47, 695 44, 664 57, 997 25, 671 5, 860 31,191 38, 758 43,122 70, 382 23 175 14, 287 SO, 161 50, 009 51 081 59, 732 21 776 4.148 31,025 47, 814 48 415 65,235 19, 871 7,870 30, 421 44, 799 48 522 65, 594 28, 638 2,552 33, 447 42, 230 60, 547 75, 677 22, 285 5,516 31, 727 43, 246 53, 717 32,144 19,106 12, 203 5,717 1,878 919, 952 30,290 17, 783 11,492 5,993 1,664 812,028 30,973 19,121 12,444 7,966 1,571 834, 298 32,221 18,484 11,911 5,871 1, 576 851, 723 30, 896 16. 269 13, 080 5,688 1,520 799, 871 18, 273 37 18, 725 65 22, 746 44 20,143 77 10. 6813 1,103 130,200 10. 7032 1,072 127,800 10. 8224 1,105 139,200 10. 8808 1,071 128, 500 11.0560 1,012 123,900 3,478 653 64 189 219 73 312 304 3,155 642 66 175 210 51 202 285 1,524 3,522 760 82 198 240 46 118 331 1,747 2,828 627 66 165 197 34 70 263 1,405 2,886 587 65 172 195 33 76 294 1,463 Imports for consumption, total do By economic classes: Crude materials _ do Crude foodstuffs _ _. do Manufactured foodstuffs and beverages do Semimanufactures do Finished manufactures do By principal commodities: Agricultural products total do Coffee — - do_ Hides and skins do Rubber crude including guayule do Silk unmanufactured do Sugar do W^ool and mohair unmanufactured do Non agricultural product^ total do Furs and manufactures do Nonferrous ores, metals, and manufactures, total thous of dol Tin including ore Paper base stocks Newsprint Petroleum a d products do do _ do TRANSPORTATION AND COMMUNICATIONS TRANSPORTATION Airlines Operations on scheduled airlines: 29,318 32,229 30, 813 29,085 32, 551 31, 529 29, 780 Miles flown, revenue thousands19, 085 17,173 15, 543 18,111 17, 909 17, 853 21, 662 Express and freight carried short tons11, 902 9,739 10, 327 11,318 11, 287 11,165 13, 620 Express and freight ton-miles flown. .thousands4. 805 4,612 4.541 5,035 5,029 5,124 4,938 Mail ton-miles flown do— 1,804 1,866 1,861 1,708 1,960 1,660 1,895 Passengers carried, revenue do— 859,130 914,367 834, 685 922, 856 956, 974 934,584 835,920 Passenger-miles flown, revenue do___ Express Operations 17,389 18, 895 17, 852 17,172 18, 769 17,845 19,377 Operating revenues thous. of doL 24 76 146 Operating income do— Local Transit Lines 10. 5645 10. 6010 10. 6642 10. 5231 10. 5231 10. 4818 10.4185 Fares, average cash rate _ cents. r 1, 048 989 1,012 1,016 1,105 1,117 1,174 Passengers carried, revenue millions124,800 120, 500 117,300 114,800 125,700 127,300 129,600 Operating revenues thous. of dol_ Class I Steam Railways Freight carloadings (A. A. R.):d" 2,992 4,142 4,039 3,291 3,233 3,152 3,785 Total cars thousands. 589 755 537 710 444 546 689 Coal do___ 66 79 65 83 63 61 81 Coke do_._ 194 241 197 168 227 193 229 Forest products do— 254 216 212 217 178 198 247 Grain and grain products do___ 34 34 69 34 33 27 35 Livestock do___ 422 452 356 361 330 216 101 Ore do_-_ 368 366 296 324 309 268 425 Merchandise, 1. c. 1 do___ 1,454 1,937 1,533 1,967 1, 582 1,580 1,979 Miscellaneous do___ d ' Revised. Deficit. ©Including Manchuria beginning January 1952. d" Data for March, June, September, and December 1951 and March 1952 are for 5 weeks; other months, 4 weeks. 1,664 r 971,600 SUEVEY OF CUREENT BUSINESS May 1952 Unless otherwise stated, statistics through 1950 and descriptive notes are shown in the 1951 Statistical Supplement to the Survey S-23 1952 1951 March April May June July August September October November December January February March TRANSPORTATION AND COMMUNICATIONS—Continued TRANSPORTATION—Continued Class I Steam Railways— Continued Freight carloadings (Federal Reserve indexes): Total, unadjusted . 1935-39=100 Coal _ do Coke do Forest products _ _ __do Grain and grain products _ do Livestock do Ore do Merchandise 1 c. 1 do Miscellaneous _ do Total, adjusted ._ -do Coal do Coke -- -do Forest products do Grain and grain products do Livestock __ _ _ do Ore _ do Merchandise, 1. c. 1 do Miscellaneous do Freight-car surplus and shortage, daily average: Car surplus, total numberBox cars _ _ do Gondolas and open hoppers do Car shortage, total do Box cars . __ . do Gondolas and open hoppers do Financial operations (unadjusted): Operating revenues total thous. of dol Freight do . Passenger _do Operating expenses do Tax accruals, joint facility and equipment rents thous. of dol__ Net railway operating income do _ Net income! _ do Financial operations, adjusted: § Operating revenues, total . mil. of dol. _ Freight do Passenger do Railway expenses do Net railway operating income do Net income do Operating results: Freight carried 1 mile mil. of ton-miles Revenue per ton-mile _ - cents Passengers carried 1 mile, revenue millions __ 130 112 204 147 138 49 70 54 149 139 112 133 112 193 156 139 61 193 51 149 136 112 197 156 158 68 212 51 151 135 111 208 160 124 57 296 48 149 133 111 210 154 141 64 212 48 148 137 120 212 158 125 49 321 47 148 131 120 217 152 123 61 207 47 144 130 97 209 143 156 50 325 44 143 125 97 215 143 130 61 203 45 142 137 122 206 155 151 64 313 47 145 133 122 215 148 140 67 209 47 144 144 130 209 153 148 107 308 48 154 133 130 211 142 132 81 205 46 143 146 134 202 152 154 128 267 48 157 135 134 206 144 154 83 180 46 144 140 140 218 149 156 88 174 47 149 137 140 218 152 159 70 180 46 144 123 127 216 128 135 65 73 43 134 133 127 206 144 143 68 235 44 142 128 133 214 139 146 64 64 44 138 141 133 203 155 146 67 256 46 151 126 120 203 140 137 57 69 47 140 136 120 192 146 140 72 277 49 149 124 111 198 141 128 53 75 48 142 133 111 196 141 139 66 257 47 149 724 32, 365 24, 275 5,323 8,601 24 2,812 14, 603 9,484 3,815 8,300 1,203 434 9,858 4,760 3,929 21, 677 15, 463 133 9,721 3, 065 5,641 28, 062 13, 109 11, 928 8,613 2,716 4,873 4,422 1,412 0 18,154 7,531 9,359 3,640 164 4 14, 902 4,181 9,231 2,593 86 19 19, 045 6,235 10, 168 3,375 203 4 8,586 2,459 5 311 7,855 1,456 298 3,889 1,201 2,336 11, 255 3,396 1,859 3,906 1,430 2,014 8,185 1,012 2 084 3,992 1,747 1 550 9, 264 2, 161 1,516 2,621 845 993 875, 600 741,001 70, 569 677, 758 851, 445 722, 012 66, 762 668, 850 888, 716 752, 588 70, 657 693, 820 855, 753 710, 732 80, 641 677, 685 816, 812 674, 008 80, 602 683, 824 909, 945 758, 759 83, 830 700, 651 855, 929 716, 394 74, 092 660, 408 965, 552 816, 182 71, 129 699, 508 903 864 743, 296 71, 795 672 482 902, 695 689, 298 88, 238 649, 044 867, 034 712, 906 82, 343 685, 369 844 704 73 649 966 301 470 687 875, 471 729, 286 74, 077 675, 135 117, 530 ' 80, 312 51, 187 112, 000 70, 595 44, 685 119, 977 74, 937 49, 225 114, 138 63, 930 50, 192 91,053 41, 935 16, 366 128, 412 80, 881 55, 497 119, 797 75, 725 50, 255 144, 144 121, 900 97, 840 136, 373 95, 008 68, 058 118, 479 135, 172 150, 661 115, 598 66, 067 41, 363 119, 385 75 895 49 244 123, 697 76, 639 854.2 716.8 71.4 783.1 71.1 38.9 872.7 738.6 69.1 799.7 73.1 40.7 855.1 719.1 71.5 793.5 61.6 30.2 871.3 728.5 77.9 795.4 75.9 44.0 818.4 682.7 73.9 774.8 43.6 12.9 854.3 712.2 74.8 806.5 47.8 16.0 873.2 734.3 74.4 793.9 79.3 49.5 897.0 751.2 72.7 818.2 78.8 47.2 907.1 745.5 75.1 818 0 89.1 56.3 925. 4 727.0 86.6 778.7 146.7 113.9 59, 069 1.325 2,718 56, 908 1.337 2,583 58, 764 1.342 2,638 56, 643 1.323 3,093 53, 284 1.333 3,190 60, 017 1.326 3,287 58, 131 1.298 2,918 61 838 1.374 2,718 56 740 1.369 2,697 52, 664 1.372 3, 354 54 700 1. 367 3,089 54 089 8,250 4,660 3,590 9,299 5,216 4,083 10, 161 5,980 4,181 10, 060 5,725 4,334 2,713 1,237 2,668 1,360 2,695 1,286 2,632 1,170 2,599 1,280 2,774 1,179 2,685 1,210 2,729 1,289 2,571 907 2,915 1,205 2 637 1,004 2 619 1 Oil 3 115 1, 130 5.83 214 6.36 82 244 6.79 81 251 6.32 81 252 6.03 75 219 6.68 79 243 6.58 83 246 6.79 85 244 6.83 77 243 6.18 65 218 6.37 77 242 6.39 79 240 6.24 77 225 63, 969 64, 845 1,661 15,360 26, 113 376 60, 854 57, 982 1,686 14, 537 30, 227 541 61,413 57, 981 1,809 17,945 35, 678 920 68, 967 82, 696 2,211 23, 605 39, 653 2,107 74, 203 86, 087 95, 978 75, 493 86, 849 51, 862 65, 535 46, 549 51,315 44, 084 53, 587 52, 188 50, 857 54, 537 17, 943 27, 411 3,547 18, 020 24, 670 3,474 19, 001 17,398 1 681 25, 847 19, 602 842 28, 347 18, 364 353 26, 501 17, 592 216 24, 862 27, 374 267 27 806 336 883 9,264 805 8,500 766 8,075 850 10, 363 766 9,299 787 9,531 785 9,567 794 9,663 788 9,579 780 9,531 985 12, 072 886 10 808 319, 021 185,045 111.979 222, 296 41, 444 39, 029 312, 404 184, 934 105, 507 216, 413 41, 242 39, 213 318, 790 185, 965 110, 775 226, 647 40, 391 39, 406 318, 428 186,604 109, 396 222, 998 40, 418 39, 555 317, 948 185, 072 110, 185 232, 641 35, 505 39, 707 326, 328 187,231 116, 208 235, 864 37, 815 39, 889 320, 205 188, 477 108 331 225, 658 29 429 40, 066 335, 579 194, 221 117, 636 238, 005 38, 970 40, 279 334, 449 196, 380 113, 990 235, 785 39 647 40, 451 341, 381 199, 422 117, 526 242, 793 40 855 40, 679 339, 151 198, 907 115 814 240, 030 39, 077 40, 127 16, 391 13, 996 1,521 15, 014 13, 282 882 16, 235 14, 199 1,157 16, 072 14, 033 1,173 15, 422 15, 127 *669 16 360 15, 057 456 15 725 14, 623 371 17 173 15' 009 1,395 16 120 14' 679 720 17 423 15' 548 1,317 16 789 15, 191 717 15 870 14 328 716 2,326 1,683 427 2,215 1,638 364 2,227 1,736 267 2,149 1,693 241 2,082 1,768 106 2,142 1,712 224 2 184 1,674 315 2 366 1,665 509 2 235 1,669 378 2 448 1,730 517 2 199 1,752 236 2 114 1 733 192 2,476 1,954 409 2,350 1,895 332 2,491 1,968 394 2,456 1,982 347 2,375 1,974 283 2,455 1,984 365 2,453 1,946 400 2 569 2,022 441 2 532 2,036 388 2 726 2,156 495 2 669 2,099 443 2 510 2,013 372 202 147 150 62 241 53 157 2,387 r r T Waterway Traffic Clearances, vessels in foreign trade: Total U. S. ports . . thous. of net tons. _ Foreign do United States do Panama Canal: Total thous. of long tons In United States vessels do Travel Hotels: Average sale per occupied room dollars.. Rooms occupied _ . percent of total __ Restaurant sales in del same month 1929=100__ Foreign travel: U. S. citizens, arrivals. 1 __number_. U S. citizens, departuresd do Emigrants do Immigrants do Passports issued _ _ do National parks visitors thousands Pullman Co.: Revenue passenger-miles _ millions Passenger revenues thous. of dol__ r77 COMMUNICATIONS Telephone carriers:© Operating revenues thous. of dol__ Station revenues _.do Tolls, message do Operating expenses, before taxes do_ _. Net operating income do Phones in service, end of month_ thousands__ Telegraph, cable, and radiotelegraph carriers: Wire-telegraph: Operating revenues thous. of dol Operating expenses, incl. depreciation do Net operating revenues do Ocean-cable: Operating revenues do Operating expenses, incl. depreciation do Net operating revenues ___ _ __do Radiotelegraph: Operating revenues _ do. Operating expenses, incl. depreciation do.... Net operating revenues do 332 196 110 231 39 40 ' Revised. *> Preliminary. <* Deficit. J Revised data for February 1951, <* $3,412,490. § Discontinued by the compiling agency after December 1951. cf Data exclude departures via international land borders; land-border departures during the 12 months ended June 1950 amounted to less than 1 percent of total departures. ©Data relate to continental United States. Beginning January 1952, data for several small companies, not previously covered, are included. 063 952 319 914 702 314 SURVEY OF CURRENT BUSINESS S-24 Unless otherwise stated, statistics through 1950 and descriptive notes are shown in the 1951 Statistical Supplement to the Survey May 1952 1951 March April May June July 1952 August September October November December January February March CHEMICALS AND ALLIED PRODUCTS CHEMICALS Inorganic chemicals, production: J Ammonia, synthetic anhydrous (commercial) 146, 664 155, 913 132, 158 146, 592 156, 692 161, 681 151, 632 146,915 147, 508 158, 848 147, 560 147, 289 short tons 4,092 6,792 900 6, 566 6,196 5, 342 Calcium arsenate (commercial) thous. of lb__ 0) 0) 0) 0) 0) 0) 65, 421 64, 514 68, 170 69, 730 69, 095 62, 557 65, 310 67, 255 71, Oil 72, 178 67, 788 60, 225 Cilcium carbide (commercial) short tons Carbon dioxide, liquid, gas, and solidQ 94, 162 ' 84, 392 ' 99, 152 ' 131, 068 ' 130, 473 ' 140, 799 ' 157, 590 r 127, 406 ' 108, 103 r 84, 823 ' 82, 105 ' 88, 124 thous oflb 209, 024 202, 693 210,477 215, 570 200, 298 212, 083 219,250 215,729 224. 250 228, 949 230, 271 Chlorine, gas short tons.- 207,106 58, 461 57,072 57,111 56, 881 58,019 57, 043 56, 005 59, 920 59, 639 58, 222 ' 60, 191 57, 467 Hydrochloric acid (100% HC1) do 4, 672 2, 670 1,838 818 3,194 318 3, 100 1. 152 3,970 0) I cad arsenate (acid and basic) thous of Ib 0) 0) 124, 402 118, 132 115, 286 115, 398 132, 286 129, 876 124, 304 125, 732 133, 790 135,516 123, 996 140, 976 Nitric acid (100% HNOs) short tons 1,812 1, 748 2,004 1,863 1,829 1,819 1,799 1,934 1,967 1,938 2, 019 1,824 Oxygen (high purity) mil. of cu. ft 152, 577 141, 828 157, 086 147,392 157,760 163, 673 151, 677 154, 060 153, 432 153, 463 '151,922 163, 038 Phosphoric acid (50% HsPO^ short tons Soda ash, ammonia-soda process (98-100% 434, 399 434, 892 439, 773 458,217 374, 204 337, 710 389, 487 430, 622 367, 380 403, 028 419, 987 NasCCh) short tons_- 461,412 r q 7^2 11,321 11,858 11,011 10,388 12, 171 10, 276 11, 276 10, 550 11 224 10. 660 10 966 Sodium bichromate and chromate do 262, 881 252, 169 252, 282 272, 799 247, 734 258, 596 275, 224 269, 387 259, 727 256, 713 263, 320 262, 683 Sodium hydroxide (100% NaOH) do Sodium silicate, soluble silicate glass (anhy47, 602 45, 132 41,210 43, 599 53, 338 49, 485 48,116 43, 268 42, 666 45, 705 35, 730 46, 978 drous) short tons Sodium sulfate, Glauber's salt and crude salt 83, 339 77, 452 81,196 67, 363 69, 408 79, 517 80, 037 81,120 75, 057 72, 396 72, 078 74, 974 cake short tons Sulfuric acid (100% H 2 SO 4 ): 1, 172, 100 1,133,353 1,151,068 1 , 066, 421 1,077,216 1 , 074, 257 1,046,075 1 ,099.964 n, 130,831 1, 179, 263 '1,165,356 1,131,674 Production do Price, wholesale, 66°, tanks, at works 20.00 20.00 20.00 20.00 20.00 20.00 20.00 20.00 20.00 19.90 20.00 20 00 dol per short ton Organic chemicals: Acetic acid (synthetic and natural), production 43, 224 42, 176 39, 457 35, 262 43, 069 34, 874 39, 309 30, 261 37, 952 37, 711 40, 778 thous of Ib 43 767 88,816 84, 358 82, 968 85, 553 86, 343 67, 032 86, 070 71, 798 45, 887 86, 306 59, 358 85' 593 Acetic anhydride production do r 1,078 1,283 1,013 1,007 945 952 1,056 1, 046 1,073 799 1,185 Acetylsalicylic acid (aspirin) production do 1, 134 Alcohol, ethyl: 46, 173 35, 722 37, 740 35, 767 40, 945 42, 421 47, 336 39. 732 35, 563 40, 477 42, 253 44 599 Production thous of proof gal 91, 087 65,982 71, 001 99, 684 103, 927 101, 740 89, 377 94, 645 91, 184 94, 742 101, 244 107 722 Stocks total do In industrial alcohol bonded warehouses 72, 221 62, 087 74, 411 59, 568 71, 103 68, 465 59. 298 61, 803 58, 971 77. 190 58, 960 thous. of proof gal__ 73, 525 18, 866 8,914 25, 273 30, 636 6,414 37, 462 30, 079 24, 054 29, 381 35, 673 35, 782 34, 196 In denaturing plants do 52, 914 52, 564 43, 611 39, 924 39, 879 43, 362 45, 582 42, 072 44, 935 43, 655 48, 919 42 509 Used for denaturation t clo 1,721 2,051 1,178 3,595 2,952 3,016 3,161 2,417 2,258 1,992 1,788 Withdrawn tax-paid do 3,033 Alcohol, denatured: 28, 204 21,421 28, 063 21,438 23, 322 23, 723 r 24, 415 22, 464 23, 348 24, 060 26, 106 Production thous. of wine gal_. 22, 757 21,993 27, 498 22, 392 23, 740 27, 232 24, 186 22, 381 20, 448 21, 944 24 752 Consumption (withdrawals) do 21 030 21 388 8,714 8,944 8,795 10, 252 6,645 7,477 9, 762 2,517 8, 333 10, 476 Stocks _do _. 10 875 13, 608 12, 051 12, 971 12, 708 11, 186 11,822 12, 301 12, 997 11, 293 10 635 11, 677 Creosote oil production thous of gal 11 783 11 559 5,441 9,235 8,144 10, 463 5,697 7,315 6,479 3,887 4,359 9,307 4 160 Ethyl acetate (85%) production thous. of lb_ 6,134 Glycerin, refined (100% basis): High gravity and yellow distilled: 7,882 7,603 6,061 5,529 5,129 6,314 4,849 8,635 3,661 6,192 Production thous. of l b _ _ 5,416 5,647 7,541 8,211 6.072 5, 677 6, 718 7, 173 7,591 5,087 6,405 6,976 5, 798 5,521 Consumption. __ __ _ _. ._ _.do 14, 735 15, 556 15,623 19, 026 18, 820 18, 664 15, 284 18, 644 1 7, 297 16, 219 16, 165 Stocks do 17, 447 Chemically pure: 10, 540 13, 299 11,098 11,747 10, 575 11, 078 9,681 14, 326 6,970 Production do 11, 529 10, 676 11,113 6,714 7,874 7,473 8,263 7,305 7, 003 8,423 6,324 6,407 Consumption _. ___ ___do_ __ 7,976 6,947 7,219 26, 524 27, 411 25, 943 27, 399 26, 884 27, 787 24,914 25, 483 26, 046 26, 582 24, 883 Stocks do 26 685 Methanol, production: 172 193 159 160 175 180 176 180 115 174 192 Natural (100%) thous. of gal 173 15,431 16, 503 14,614 15, 950 15, 278 14,759 17, 224 15. 349 14, 845 15, 536 14, 226 Synthetic (100%,) do __ 13, 756 21, 141 21, 773 19, 926 18, 883 21, 437 19, 678 22, 114 21, 524 20, 694 21, 241 18, 844 Phthalic anhydride, production thous. o f l b 19 462 41, 129 95, 360 54, 937 40, 423 40, 922 1,861 21, 914 21, 491 14, 035 6,745 5,617 18, 104 11, 704 7,398 28, 107 FERTILIZERS 994 285, 768 27, 532 238, 165 7,286 509 217, 760 23, 433 176, 300 8,812 302 349 300, 139 25, 762 262, 569 297, 010 13, 139 259, 668 11, 585 282, 314 259, 450 283, 809 Imports, total_ __ do 212, 781 226, 829 165, 929 Nitrogenous materials, total do 94, 291 74, 451 98, 278 Nitrate of soda do 8,918 12, 034 7,936 Phosphate materials _ do __ 31, 105 23, 122 63, 701 Potash materials _ _ _ do __ Price, wholesale, nitrate of soda, crude, f. o. b. cars, 53.50 53.50 port warehouses dol. per short ton__ 53.50 115, 369 110, 777 Potash deliveries short tons__ 128, 661 Superphosphate (bulk)-d1 •1,106,445 •1,057,492 '1,036,724 Production do Stocks, end of month do '1,119,928 r 938, 648 ' 832, 284 215, 065 137. 981 74, 874 14, 594 47, 929 151, 837 79, 692 33, 065 7,871 52, 158 53.50 101, 663 53.50 53.50 106, 134 112, 498 Consumption (14 States) § Exports, total __ Nitrogenous materials Phosphate materials Potash materials thous. of short tonsshort tons do do do 1,407 ' 1, 608 244, 818 209, 649 17, 176 15, 430 201, 917 177, 554 13, 407 8,399 r T 9,049 194, 530 128,011 58, 487 17,154 37, 152 494 235, 053 16, 570 183, 344 14, 197 708 315, 160 26, 483 267, Oil 8,854 742 220, 305 27, 772 130, 159 6,772 604 217, 188 27, 632 152, 980 5,433 1,153 201, 552 20 560 154 761 9,056 r 1, 348 214, 991 28 77 n 161 770 7,619 147, 137 89, 105 41, 768 10, 798 37, 708 190, 238 121, 334 53, 401 1,962 54, 721 155, 601 105, 877 36, 395 9,210 28, 131 168, 737 101. 457 41 780 14, 797 44 934 315, 524 247, 554 54 651 8 588 50 133 269, 647 165 806 72 814 17 751 69 518 53.50 113, 326 53.50 114, 311 57.00 119, 074 57 00 121, 535 57 00 114 903 57 00 123 582 1,827 140 625 877, 081 ' 822, 116 ' 850, 009 ' 811, 543 ' 923, 966 ' 954, 651 ' 893, 639 962, 247 '1,033,449 1, 099, 852 919, 900 '1,095,216 '1,240,213 '1,268,280 '1,245,504 '1,183,481 '1,163,982 '1,293,588 '1,217,295 953, 481 NAVAL STORES Rosin (gum and wood) : 569, 450 Production, quarterly total drums (520 Ib.) 433 180 579, 940 507 600 558, 580 601, 000 665, 530 Stocks, end of quarter do 748 700 Price, gum, wholesale, "WG" grade (Sav.), bulk 8.90 8.90 8.90 9.07 dol. per 100 lb__ 8.90 8.33 8.23 8.67 9.40 9.40 9.40 8.05 Turpentine (gum and wood): 193, 220 195, 260 Production, quarterly total _ bbl. (50 gal.)__ 141, 200 167, 540 152, 490 128, 760 Stocks, end of quarter do 179,300 197 630 .92 .92 .79 .78 .75 Price, gum, wholesale (Savannah) __dol. per gal_. .68 .73 .80 .80 .80 .76 .80 ' Revised. 1 Not available for publication. JRevised data for January-October 1950 are available upon request. O Re vised beginning January 1951 to exclude amounts produced and consumed in the same plants manufacturing soda ash; revisions for January and February are 71,162,000 and 64,769,000 pounds, respectively. fRe vised series. Data shown prior to the November 1951 SURVEY represent alcohol withdrawn for denaturation. § Figures exclude data for Virginia; effective January 1951, this State reports quarterly. Data for Virginia (thous. short tons): 1951—-January-March, 296; April-June, 286; July-September 91; October-December, 111; 1952—January-March, 322. cf Revisions for January and February 1951, respectively (short tons): Production—994,139; 974,111; stocks—1,207,228; 1,193,211. SURVEY OF CURRENT BUSINESS May 1052 S-25 19 51 Unless otherwise stated, statistics through 1950 and descriptive notes are shown in the 1951 Statistical Supplement to the Survey March April May June July 1952 August September October November December January February 1,164 53 297 1,325 55 512 1, 193 59 669 March CHEMICALS AND ALLIED PRODUCTS—Continued MISCELLANEOUS Explosives (industrial), shipments: Black blasting powder High explosives Sulfur: Production __ Stocks _ _ thous. oflb_do _ 985 54, 277 936 59,128 743 63, 285 787 60, 687 768 56, 451 946 65 264 1,276 62 425 1,610 68 033 1,591 62 244 842 57 659 421,116 458, 025 4.53, 685 419,312 438, 843 .long tons448, 842 462 701 433 871 435 828 412 481 459 805 418 655 445 014 do ___. 2, 796, 784 2, 750, 305 2, 711. 267 2. 719, 821 2, 669, 635 2 665 801 2 754 129 2 782 423 2 805 902 2 837 432 2 851 214 2 883 571 2 850 666 FATS, OILS, OILSEEDS, AND BYPRODUCTS Animal fats, greases, and oils:t Animal fats: 318,211 308, 408 326, 209 308 257 279 284 297 887 Production thous. of Ib 281 549 378 755 417 530 327 893 398 619 148. 635 117,406 72, 754 Consumption factory _ _ do _ 117.213 101, 144 103 387 191 909 98 302 96 644 116 096 112 690 266, 213 Stocks, end of month _ do 261. 037 266, 198 273, 320 277, 129 327* 037 258 887 270 761 303 436 269 893 261 850 Greases: 51, 696 48, 086 54, 892 Production _ do_ 52 630 47, 222 56 659 58 919 54 642 46 862 49 801 58 013 55, 344 47, 750 40,841 Consumption, factory do 48,118 28,110 41.551 45, 248 46. 782 42, 189 44, 277 42, 855 82. 568 86, 779 94 507 Stocks end of month do 110 682 101 780 113 378 104 574 103 801 113 712 103 919 100 465 Fish oils: 716 9,189 Production do 890 19. 082 25, 463 18, 789 25 240 16 612 2 305 900 2 297 13, 634 10 194 Consumption factory do 10, 443 8 925 9 903 11. 543 9 089 9 840 10 918 11 508 11 477 54, 817 45, 921 62, 053 79, 494 75,111 Stocks, end of month cf _ _ _ _ -do 97 846 104 219 82 084 109 630 102?Q99 96' 437 Vegetable oils, oilseeds, and byproducts^ Vegetable oils, total: 501 428 420 Production crude mil. oflb 371 330 584 440 396 552 616 604 518 434 Consumption crude, factory do 398 342 277 529 358 377 484 487 478 Stocks, end of month: 1, 055 1, 051 1, 062 1 028 1 279 1 9r005 1 021 1 026 1 202 1 251 Crudecf do 1 100 410 455 442 400 329 504 Refined do )5 250 436 292 368 47, 188 Exports thous. o f l b 61.234 61 065 97 151 39 913 83 367 63 880 74 267 58 618 52 833 83 S43 46, 727 36. 723 30 308 Imports, total _ _ do 45, 093 27 157 39 332 33' 087 19 636 36 391 35 813 28' 433 5, 036 Paint oils _ _ _ _ do 4, 619 1 , 674 2, 285 2 869 1 886 2' 4 1 5 1 245 3 9«9 442 41, 691 32, 104 All other vegetable oils do 37 415 28 634 24 872 37 446 18 391 32 402 26 01Q 30 218 35 371 Copra: 37, 616 Consumption factory short tons 33, 340 38 365 26 769 29 539 29 807 22 047 28 8^9 37 219 37 297 35 774 95 4 £ 9 30, 386 34. 241 26 334 Stocks, end of month _ _ do _ 22, 926 20, 732 21 ' 161 21 546 27 4Q2 21 ' 643 21 063 41, 987 28, 100 Imports - do _ 31, 621 21,716 29, 661 34 681 41 Oil 35' 147 31 978 46' 183 31 787 Coconut or copra oil: Production: 48. 080 37 410 Crude th ous „ o f 1 b 42 026 49 264 35 112 27 903 36? 929 37 492 48 133 44 976 47 179 31, 844 26 499 24' 983 Refined _. ._ _ _ d o 28, 277 23 224 22 714 17 645 28 028 31 ' 625 2ft' 578 28 270 Consumption, factory: 39 710 56, 197 Crude. _ do 48, 214 45 747 39 206 36 159 28 911 44 475 39 645 47 698 45 564 25 348 27, 784 24 108 22 459 Refined do 27 626 25 060 20 254 15 631 22 336 27 486 27 305 Stocks, end of month: 1 103, 572 101,745 106, 153 94 075 85 024 82 279 92 073 Cruder? - - do 74 804 61 932 85 006 84 528 12, 813 Refuied __ _ _ do 10.239 10,336 8, 469 9,322 8 839 9 863 7 207 6 995 8* 342 6*809 13, 336 12 696 Imports do 9 493 7 018 12 645 7 173 5 701 3 825 3 899 9 718 5 36^ Cottonseed: 37 Receipts at mills _ thous. of short tons 15 24 15 1 587 322 I 006 1 054 598 68 556 |OQ 229 Consumption (crush) - do 164 117 96 72 541 653 688 776 838 Stocks at mills, end of month _ „ _. _do 393 244 1 935 142 70 1 881 1 705 1 515 66 935 422 Cottonseed cake arid meal: 9 106,323 74,216 Production _ short tons 48,437 43, 989 361 949 250 12 319 884 32 880 303 841 387 447 92 222 Stocks at mills, end of month _ _ -do . _.. 130,717 105, 949 94, 795 89, 767 71 , 645 70, 841 72 854 60 316 55, 430 56 737 57' 343 Cottonseed oil, crude: 77, 628 54. 719 38, 305 34, 127 Production thous. oflb-.. 206, 005 244, 053 24. 271 1 66, 505 257, 819 218,547 60. 200 60. 610 Stocks, end of month __ _ .. do 48, 528 30, 018 22, 329 152, 672 186, 292 188, 644 20, 121 90, 010 184.843 29 133 Cottonseed oil, refined: 24 446 95. 400 54 149 65, 744 Production do 35 473 182 865 96 085 173 896 186 793 185 037 40 499 76.811 63 388 Consumption, factory do 62, 876 64 121 Q7* 73 5 63 465 100' 550 122' 100 118 578 135 296 1°5'()71 23.497 19, 644 In oleomargarine ._ do 18,355 19. 203 32 583 44 497 36 8! (') 35 335 21,210 3()' 583 35 858 226. 525 Stocks, end of month do 220, 997 194,120 231, 652 147, 024 154,868 102.715 225, 137 279, 881 i 336, 814 9S, 103 .323 .323 .305 .248 Price, wholesale, drums (N.Y.)*..__dol. p e r l b _ _ .241 .218 . 203 .217 .218 . 213 .220 Flaxseed: Production (crop estimate) thous. of bu 233 802 Oil mills: Consumption do 3, 739 3, 484 3.700 3, 376 3,149 2,298 2.810 3,022 ' 2, 581 2,854 2, 943 4 429 6, 109 5 565 5 245 Stocks, end of month do 5 579 5 844 6 407 3 654 7 098 3 259 6 831 4.89 Price, wholesale, No. 1 (Minn.) dol. per bu__ 4. 68 4. 33 3.68 4.54 3.42 4.56 3. 83 4. 1 0 3.41 4.40 Linseed oil, raw: 74, 953 Production thous of Ib 67 511 70 002 74 079 ,59 120 63 396 46 857 57 057 59 964 60 500 54 981 40' 462 Consumption, factory _ __ do 68, 186 61, 588 60 826 59 405 44 027 42 363 52 359 46 173 46 650 50 091 Stocks at factory, end of month do 601,736 005, 329 620. 535 623, 490 633, 674 652, 657 634! 748 6-M5. 184 652, 696 640. 760 638, 785 Price, wholesale (N. Y.) . . _ _ _dol. per Ib ]Q7 .240 169 235 201 209 212 242 181 159 210 Soybeans: Production (crop estimate) thous, of bu__ 2 280 512 23 179 Consumption, factory do _ 24, 737 9] 556 21,918 17 842 24 046 21, 260 17 759 18 7Q7 23 036 14 791 53 983 62, 798 Stocks end of month do 42 102 58 3^6 2° 706 50 901 68 0^2 4 °74 6 1 848 9 715 Soybean oil: Production: 240, 426 212, 077 Crude — thous. oflb 209, 264 176 839 176 357 234 386 221 400 187 910 148 658 214 799 224 834 Refined _ _ _ _ _ . do 201, 472 180 217 163 260 139 124 120 79° 149 822 130 391 154 263 143 782 179 073 136 668 Consumption, factory, refined , r - , , do 165. 942 141 076 157 851 134 597 116 315 147 351 197 916 159 187 148 240 134 518 136 660 Stocks, end of month: 19] 135 Crude do 130. 692 124 800 qO 907 125, 870 107 383 116 683 107 993 230 950 197 346 164 699 Rpfined do _ 95. 790 129, 607 79 870 119 641 75 261 113 715 95 343 85 236 73 602 83 920 97 092 Price, wholesale, edible (N. Y.) dol. per lb_. .258 '.278 .199 .195 .225 .191 .206 !l79 !l65 !l90 2 r Revised. 1 Includes stocks owned by Commodity Credit Corporation. 2 December 1 estimate. f Revisions for 1950 for production, consumption, and stocks will be shown later. c?1 Beginning with September 1950, data included for sperm oil, crude palm, castor, and coconut oil are on a commercial stocks basis. * New series. Compiled by the U. S. Department of Labor, Bureau of Labor Statistics. Data prior to February 1951 will be shown later. : 78i r 388 109 121 614 329 625 367 470 119 944 325 955 58 217 42, 173 105 938 52 114 40, 075 100 536 169 8 578 r 73 295 298 0 429 73 055 r 522 509 4839 48 r I 287 1 27° 590 58 24 2 22 556 899 878 050 897 30 476 25 202 36 287 26 367 20 923 38 132 27' 987 33 176 30 494 42 364 25 099 45 222 9 6 797 82 143 9 103 1 767 81 387 9 013 T 163 1 180 55 433 802 r 253 208 56, 176 201 182 47 336 176, 041 174, 795 143, 727 162,209 r ,545 r T r r 164 076 117,870 35, 023 '•383,410 .220 136 95r> 107 686 28 019 1 414, 276 . 190 2,243 5 547 4.23 2, 196 4 430 4. 16 44 020 41 734 659, 688 195 45 707 43 661 655, 932 r 20 985 r 49 428 14 818 49 708 222 247 180 696 168 379 218 381 183 469 165 193 240 510 103 120 .155 245 027 109 839 ,150 SUEVEY OF CURRENT BUSINESS S-26 May 1952 1951 Unless otherwise stated, statistics through 1950 and descriptive notes are shown in the 1951 Statistical Supplement to the Survey March April May June July 1952 August September October November December January February March CHEMICALS AND ALLIED PRODUCTS—Continued FATS, OILS, ETC.— Continued Vegetable oils, oilseeds, etc.— Continued Oleomargarine: Production thous. of Ib Stocks (factory and warehouse) ... .. d o _ _ _ Price, wholesale, vegetable, colored, delivered (eastern U. S.)* dol. per Ib Shortenings arid compounds: Production thous. of Ib Stocks, end of month _. do_ . 91, 137 22, 987 71,393 20, 066 80, 344 17,959 70, 927 19,529 69, 436 17,451 85, 074 16,461 86, 286 17, 022 98,219 19,218 94, 979 17, 704 96, 240 18, 830 128, 145 17. 485 114,051 24, 951 r .351 .351 .342 .326 .299 .291 .290 .290 .290 .289 .289 112,025 123, 554 98, 840 152, 844 106,416 80, 203 114,434 126, 290 104, 682 109, 636 97,018 136, 469 94, 231 131.721 93,110 116, 509 151, 602 86, 770 140, 550 128, 313 94, 405 113, 436 103,693 44,387 59, 306 9,743 106, ORO 96, 651 41, 786 54, 864 9,410 110, 639 100, 175 104, 690 94, 523 38,871 55, 651 10, 167 93. 504 84, 677 34, 604 50, 073 8,827 101,992 41,357 58,817 92, 251 38, 449 53, 802 9,741 88, 697 79, 721 33, 940 45, 781 8,976 97, 960 88, 505 39, 134 49, 371 9,454 83, 492 75, 731 34 406 41 , 324 7 761 69, 628 63, 199 28, 747 34, 452 6,430 2,986 6,215 807 1,252 39, 852 25, 162 21,460 37, 880 33,891 11,996 16, 563 3,261 6,707 2,895 2,892 6,274 3,062 5,766 2,699 5,204 645 2,668 4,440 2,431 4, 564 1,713 508 801 3,382 2 526 2,894 2,957 4,243 1,050 33, 054 30, 372 14, 561 39 154 26, 168 5 643 15 447 508 796 467 507 521 734 41, 142 29, 534 16, 179 41 898 27, 394 6 546 16 146 35, 859 28, 620 14, 343 40 596 26 048 6 883 14 920 28, 970 26, 467 12, 961 42 028 24 929 6 729 15' 169 31, 652 27, 395 1 16 005 43 446 r 28 616 r Q 592 15 860 28, 869 26 518 14 933 39 245 28 021 7 855 13 163 101,441 96, 762 21, 655 .259 .259 131,040 91,890 12S 912 89, 120 PAINT SALES Paint, varnish, lacquer, and filler, total thous. Classified, total. . Industrial Trade Unclassified of dol do do do do 10, 464 SYNTHETIC PLASTICS AND RESIN MATERIALS Production: Cellulose acetate and mixed ester plastics: Sheets rods, and tubes thous. of Ib Molding and extrusion materials do Nitrocellulose, sheets, rods, and tubes _ _ d o _ _ . Other cellulose plastics do Phenolic and other tar acid resins__ _ _ -do. _ Polystyrene do Urea a n d melamine resins _ _ _ _ _ do _ Vinvl resins § do Alkvd resins § do Rosin modifications do Miscellaneous resins § do 695 1,044 37, 586 25, 498 22, 342 39, 260 32. 576 10, 805 14, 040 6,100 726 749 887 1,152 39, 532 27, 236 18,475 39, 734 32, 008 9, 433 16, 140 37,112 27,115 17, 046 39, 209 32, 176 6,914 15, 661 33, 671 30, 492 13, 823 39, 531 28, 514 6,434 12, 523 398 1,153 32, 477 32, 279 16,218 39,111 30, 347 4 601 15, 030 615 919 r 1 915 4 178 508 792 ELECTRIC POWER AND GAS ELECTRIC POWER J Production (utility and industrial), total 34, 431 mil. of kw.-hr._ 36, 172 29, 293 30, 920 Electric utilities, total.. _ _ _ _ _ _ d o _ __ 20, 283 21, 699 By fuels do 9,010 9,221 P>y water power do __ Privately and municipally owned utilities 25, 246 26, 551 mil. of kw.-hr__ 4,048 4,369 Other producers do 5,138 5, 252 Industrial establishments, total do 4, 683 4,843 By fuels do 455 409 By water power.. _ do . Sales to ultimate customers, total (Edison Electric ' 26, 002 ' 26, 149 Institute) J mil. of kw.-hr Commercial and industrial: r 4. 567 r 4, 568 Small light and power _ _.do_ _'12,873 '12,876 Large light and power _do 497 -547 Railways and railroads _ do r 6, 384 ' 6, 633 Residential or domestic _ do_ 724 "•545 Rural (distinct rural rates) _ _ _ _ _ do '278 '250 Street arid highway lighting _ do_ r 657 ' 655 Other public authorities _ _ _ do_ 47 50 Interdepartmental do Revenue from sales to ultimate customers (Edison Electric Institute) t - -thous. of dol_ ' 462, 577 ' 458, 908 ' 35, 136 29, 871 21,334 8,537 34, 966 29, 840 21,819 8,021 35, 435 30, 392 22, 1 1 1 8,281 37, 510 32, 326 24, 510 7,816 35, 296 30, 275 23, 239 7,036 37, 775 32, 441 24 893 7,548 37, 313 32, 095 24 017 8 079 38, 459 33 143 24 Oil 9 132 39, 710 34 203 24 302 9 901 36, 768 31 536 22 075 9 461 38, 568 33 040 22 597 10 443 25, 852 4,019 5, 265 4, 836 429 25, 778 4, 062 5,126 4, 736 390 25, 974 4,418 5,042 4,701 341 27, 638 4,689 5, 184 4,861 322 26, 197 4 078 5,020 4,722 299 28, 224 4 217 5 334 4,993 341 27, 934 4 if,i 5 217 4 872 345 28, 534 4 609 5 316 4 896 420 29,006 5 197 5 507 5 042 465 26,717 4 819 5 232 4 766 466 27, 647 5 393 5 529 5 022 506 25, 467 r 25, 709 25, 663 26, 725 4,482 12, 937 465 r 5, 950 '707 231 648 47 4,683 ' 13, 098 441 r 5,812 T 774 216 637 47 4,875 12, 729 422 5,779 952 223 637 47 5,012 13, 493 427 5,810 1,030 245 669 40 457, 799 469, 300 451, 676 ' 456, 164 ' 26, 777 ' 27, 114 ' 27, 481 ' 28, 263 29, 217 ' 5, 030 '4,813 13,321 '13,919 446 '413 r 6, 065 ' 6, 186 980 720 '269 302 '686 '659 40 42 ' 4, 861 4,976 ' 13, 779 ' 13, 704 527 475 '6 712 ' 7, 447 577 ' 521 325 347 699 ' 713 39 43 5, 124 13, 797 523 8 170 503 348 717 35 ' 476, 635 ' 477, 724 ' 488, 495 ' 501, 349 522, 258 r GASf Manufactured and mixed gas (quarterly) : Customers, end of quarter, total thousands Residential (incl. house-heating) . do_ Industrial and commercial do Sales to consumers, total mil. of therms _ Residential do Industrial and commercial do Revenue from sales to consumers, total thous. of doL Residential (incl house-heating) do Industrial and commercial do Natural gas (quarterly) : Customers, end of quarter, total _ thousands Residential (incl. house-heating),. do Industrial and commercial do Sales to consumers, total mil. of therms Residential (incl. house-heating). do Industrial and commercial do Revenue from sales to consumers, total. _thous. of dol. _ Residential (incl house-heating) do Industrial and commercial do 8,981 8, 362 613 1,144 794 332 8,840 8,228 606 817 503 302 8,230 7,667 557 594 315 269 8 044 7,491 549 829 522 290 175, 832 130 335 44, 023 132, 496 95, 332 36, 057 101, 899 71 134 29 906 127,909 92 138 34 338 15, 503 14, 204 1,282 13, 333 5,924 7,112 555, 071 360 834 187,619 15, 697 14, 431 1,249 10, 484 3, 009 7,125 382, 063 205, 054 170, 256 16, 192 14, 923 1, 251 8,666 1,257 6,988 269, 807 107, 811 154, 061 17,178 15, 782 1 378 11, 532 3,728 7, 413 452, 637 255 866 188, 563 ' Revised. *New series. Compiled by U. 8. Department of Labor, Bureau of Labor Statistics. Data prior to February 1951 will be shown later. § See note "1" in the February 1952 SURVEY and earlier issues regarding changes in classification and coverage beginning with data for January 1951. I Unpublished revisions for January-July 1950 for electric-power production will be shown later. Revisions for January and February 1951 for electric-power sales and revenue are as follows (units as above): Sales—total, 26,773; 26,044; small light arid power, 4,746; 4,664; large light and power, 12,723; 12,376; railways and railroads, 574; 527; residential, 7,229; 7,017; rural, 473; 476; street and highway lighting, 318; 281; other public authorities, 666; 661; interdepartmental, 44; 42; revenlie-— 477,673; 469,373. t Revised data. All sales data formerly expressed in cu. ft. are now published in therms by the compiling source; 1932-49 figures expressed in therms and minor revisions for customers and revenue for 1932-44 will be shown later. Revisions for the first 2 quarters of 1950 are shown in the corresponding note in the October 1951 SURVEY. SURVEY OF CURRENT BUSINESS May 1952 S-27 1<>51 1950 and descriptive notes are shown in the 1951 Statistical Supplement to the Survey March April May June July 1952 August September October November December January February Maich FOODSTUFFS AND TOBACCO i ALCOHOLIC BEVERAGES Fermented malt liquors: Production thous of bbl Tax-paid withdrawals do Stocks end of month do. Distilled spirits: Production thous of tax gal Consumption, apparent, for beverage purposes thous. of wine gal Tax-paid withdrawals thous. of tax gal__ Stocks, end of month _ .__ _ _ . _ _ do_ __ Imports thous. of proof gal Whisky: Production thous. of tax gal Tax-paid withdrawals . do_. Stocks, end of month _ . _ _ -do. . imports thous. of proof gal Rectified spirits and wines, production, total cf thous. of proof gal__ Whiskv _ do__ Wines and distilling materials: Sparkling wines: Production thous. of wine gal Tax-paid withdrawals.. ._ do Stocks end of month do Imports „ do Still wines: Production do Tax-paid withdrawals do Stocks end of month ___ d o _ _ Imports do Distilling materials produced at wineries do 7,514 6.675 10, 334 7,481 6,453 10, 921 8,410 7, 703 11, 108 8,959 8,182 11, 344 9,009 8,480 11, 383 8.997 8,886 10, 930 7,032 6,995 10, 522 6,841 6,732 10,211 6,142 6, 410 9,506 6,284 6,077 9,240 6,967 6,442 9,307 6,601 5, 601 9,897 7,328 6,099 10, 662 35, 339 28, 620 27, 893 25, 832 18, 774 16, 376 22, 214 34, 768 28, 840 19, 382 17, 026 15 546 15 009 15, 108 10, 280 843, 251 1,387 11, 674 5,321 865, 207 1,277 13, 035 7,002 884, 516 1,309 13, 226 7,273 901, 106 «• 1, 463 12, 615 7,021 910, 339 1,345 14, 688 8, 664 915, 424 1,327 16, 877 11, 252 914, 577 1,766 22, 403 15, 671 911,925 2,557 15, 958 11, 058 917, 249 1,877 19, 427 7, 746 925,197 1,696 12, 038 6,592 932, 563 1,254 12, 459 7,746 936, 386 1,210 9, 757 940, 071 19, 979 6, 115 720, 713 1,247 14, 727 3,081 731, 674 1,155 15, 912 3, 713 742, 589 1,209 13, 273 3,640 751, 233 1,368 9,763 3,686 755, 774 1,243 6,905 5,002 756, 411 1,219 8, 158 6,887 755, 457 1,628 10, 322 9,129 755, 041 2,209 10, 831 6,679 756, 521 1,714 10, 463 4, 682 760, 803 1,516 9,548 4,095 765, 029 1,129 9,114 4,645 768, 047 1,102 8,648 5, 536 768, 745 8,448 7,269 4,842 3,835 6,066 5,236 5,915 5, 243 6,431 5,837 7,843 6,904 10, 375 9,501 12, 609 11, 242 9,518 8,502 7.349 6,516 5,094 4,348 6,052 5,394 7, 060 6,174 68 78 1,306 39 195 53 1,437 38 180 82 1,525 36 117 84 1,550 50 59 56 1,546 33 149 71 1,617 38 67 95 1,585 43 46 133 1,484 72 80 T73 1,385 115 118 173 1,316 98 141 76 1,365 41 59 56 1,352 27 2,301 10, 609 158, 360 388 1,347 1,367 8,894 150, 513 412 926 1, 565 8,409 142, 762 398 467 1,212 8,207 133, 978 363 417 1,036 6, 969 127, 386 260 602 4,102 8,573 120, 474 259 8,732 29, 039 9,879 139, 168 269 73, 107 77, 369 11,515 210, 588 424 150, 884 39, 076 12, 230 237, 581 538 87, 335 8,393 10, 877 231, 616 605 25, 981 2,892 10, 702 222, 662 391 6,654 1,368 10 627 210, 209 292 526 93, 400 33, 378 .671 103, 585 32, 207 .670 133, 425 42, 590 .701 142, 305 72, 598 .686 133, 775 104, 405 .675 120, 185 116, 790 .673 95, 900 113,501 .682 87, 815 94,611 .707 67, 515 59, 349 .740 69, 945 27, 051 .791 77, 435 13, 874 .803 'r77, 250 7, 879 .845 91, 295 65, 495 155, 095 130, 655 4,477 102, 405 76, 295 169,822 144, 441 3,212 133, 755 103, 625 197,412 169, 553 2,639 143, 350 113, 520 234, 608 204, 009 2,757 127, 175 101, 505 262, 540 227, 199 2,454 111,005 86, 855 269, 564 233, 788 7,419 91, 945 69, 965 272, 053 239, 500 3,588 82, 445 59, 005 259, 425 229, 561 3,288 64, 750 42, 970 232, 968 204, 683 4,095 65, 480 43, 130 222, 136 194, 784 3,863 .437 .407 .414 .420 .408 .420 .410 .424 .431 .449 .444 .436 22, 000 4,200 257, 900 22, 225 4,200 290, 400 36, 000 5,700 388, 500 34, 850 6,200 371, 900 23, 750 4,900 315, 300 20, 475 4,375 264, 000 15 950 4,200 197, 000 14, 875 4, 250 166, 500 12, 350 4,650 133, 500 14 750 6,190 141, 700 13, 600 6,550 157, 000 14 100 6 025 164, 850 18 000 7 400 205, 000 9,455 92, 258 8,298 149, 041 8,527 283, 708 8,796 426, 747 7,905 524, 514 7,171 543, 438 5 878 501, 412 6 957 448, 008 8,777 357, 311 9 185 225, 988 6 585 140, 611 7 388 74 505 8 237 76 443 1,720 13, 874 2,961 22, 487 3,306 24, 368 5,664 32, 587 2,466 15,596 3,195 27, 617 2,616 26, 573 1,463 12, 590 1,124 4,277 1,262 6,048 6,856 5,731 3,215 7 025 10.80 6.16 10.80 6.16 10.80 6.16 10.80 6.14 10.80 6.12 10.80 6.09 10.80 6.05 10.80 6.08 10.80 6 19 10.80 6 25 10.80 6 34 10 80 6 38 8, 528 3,060 5.30 '7,611 2,378 5.38 r 7, 797 2,477 5.43 8, 847 2,706 5.44 8 700 2 735 5.48 9 679 3 302 5.46 DAIRY PRODUCTS Butter, creamery: Production (factory) t thous. of l b _ _ Stocks, cold storage, end of month _ do __ Price, wholesale, 92-score (New York)_dol. per lb__ Cheese: Production (factory), total t thous. o f l b _ _ American, whole milk t _ . ._ do_ __ Stocks cold storage, end of month, total do American, whole milk. _ _ _ _ do. Imports do Price, wholesale, American, single daisies (Chicago) dol. perlb__ Condensed and evaporated milk: Production: t Condensed (sweetened): Bulk goods thous. of Ib Case goods 0 do__ Evaporated (unsweetened), case goods-.-do Stocks, manufacturers', case goods, end of month: Condensed (sweetened) thous. of Ib Evaporated (unsweetened) do Exports: Condensed (sweetened) do Evaporated (unsweetened) do Prices, wholesale, IT. S. average: Condensed (sweetened) dol. per case.. Evaporated (unsweetened) do Fluid milk: Production t mil. oflb Utilization in mfd. dairy products. _ do__ Price, dealers', standard grade dol. per 100 lb__ Dry milk: Production: t , Dry whole milk thous. of Ib Nonfat dry milk solids (human food) do Stocks, manufacturers', end of month: Dry whole milk do_. Nonfat dry milk solids (human food) do __ Exports: Drv whole milk do Nonfat dry milk solids (human food) do Price, wholesale, nonfat dry milk solids (human food) TJ S average dol per Ib r 9, 662 3,536 5.09 ' 10, 215 ' 12, 164 3,937 5,101 5.05 5.01 "• 12, 212 5,334 4.98 * 11, 426 4,845 5.05 "• 10, 505 4,268 5.12 10.80 6.06 r 9, 145 3,407 5.20 r 68, 760 ' 70, 540 r 47, 210 45, 810 193, 272 r 166, 040 167, 824 ' 142,945 4,895 3,385 92, 170 6,157 .738 86, 430 59, 070 154 369 132, 862 .429 14, 950 54, 675 15, 600 70, 600 15, 650 101, 100 14, 325 108, 400 13, 625 82, 050 9, 775 66, 900 7,150 45, 425 6,115 35, 825 4 125 25 930 5 955 35, 400 7,325 45, 250 6 900 50, 345 9 000 67, 900 14, 703 27, 125 15, 792 44, 233 19, 181 76, 457 22, 240 110, 408 24, 130 128,615 26, 325 125, 340 25, 511 109, 868 23, 288 82, 219 19,612 56, 548 17 917 42, 265 16, 765 29, 677 14 625 24 327 13 343 34 566 5, 085 12, 175 5,348 9,421 6, 301 20, 927 5, 369 24, 195 4,449 4, 196 2,835 2,675 3,836 2,139 5 598 2, 994 4 939 2,508 3 553 1,639 3 4^4 7,908 .144 .145 .146 .147 .147 149 147 150 151 152 156 6,613 18, 262 .137 r 159 FRUITS AND VEGETABLES Apples: i 112 935 Production (crop estimate) thous. of bu r T r 4,292 3,187 1,703 694 254 206 1 127 4 163 r 2 856 Shipments carlot no. of carloads 3 637 r 2 047 2 449 1 992 12, 891 6,931 2,844 680 294 293 Stocks, cold storage, end of month__ -thous. of b u _ _ 28, 375 7,684 28, 000 22,113 16,014 r 10, 753 6,047 r T 7> ?27 12, 083 11,027 12, 691 10, 459 7,553 7, 195 Citrus fruits, carlot shipments no. of carloads__ 6,332 6,201 11, 839 11, 548 ' 10, 472 11,386 Frozen fruits, stocks, cold storage, end of month 361, 867 418, 666 thous. of l b _ _ 390, 646 531, 090 573, 708 610, 299 599, 766 571,229 489, 932 496, 386 465, 137 ' 471, 101 474, 914 Frozen vegetables, stocks, cold storage, end of 272, 111 270, 206 444 409 r 398 699 290, 321 3C9, 311 445, 724 month thous. of lb__ 294, 223 515, 766 554, 175 592 076 498 340 349 887 Potatoes, white: Production (crop estimate) ._ thous. of b u _ _ i 325 708 r i(5 378 23, 092 20, 847 21, 178 22, 596 12, 931 11 589 Shipments carlot no. of carloads 12 373 r Ig ?89 19 079 18 556 22 043 23 964 Price wholesale, TJ. S. No. 1 (New York) r 2.926 ! 4. 005 4. 056 dol. per 1001b__ 3.733 3.008 3.436 4.171 3. 865 4.736 5.540 6. 875 6. 660 6.025 r Revised. i December 1 estimate. cf Figures beginning July 1951 exclude production of wines and vermouth; for July 1950-June 1951, such production totaled 99,000 gallons, t Revisions prior to November 1950 are available upon request as follows: Beginning 1949 for butter, cheese, and nonfat dry milk solids; beginning 1950 for condensed and evaporated milk and dry whole milk. Revisions for fluid milk (January 1940-February 1951) will be shown later. O Figures beginning 1950 represent whole milk only; earlier data cover both whole and skimmed milk. SURVEY OF CURRENT BUSINESS S-28 May 1951 Unless otherwise stated, statistics through 1950 and descriptive notes are shown in the 1951 Statistical Supplement to the Survey March April May June July 1952 August September October November December January 47, 423 48, 504 53, 987 1 254. 668 8. 039 February March FOODSTUFFS AND TOBACCO—Continued GRAINS AND GRAIN PRODUCTS Exports, principal grains, including flour and meal 59, 459 thous. of bu... Barley: Production (crop estimate) do 8,801 Receipts, principal markets .. _.do Stocks, domestic, end of month: 27, 476 Commercial do * 89, 268 On farms do 6.177 Exports, including malt do... Prices, wholesale (Minneapolis) : 1.738 No. 2, malting dol . per bu . . 1.628 No. 3, straight do Corn: Production (crop estimate) Orindings, wet process Receipts, principal markets Stocks, domestic, end of month: Commercial On firms Exports including meal Prices, wholesale: No. 3, white (Chicago). No 3 yellow (Chicago) Weighted average, 5 markets, all Oats: Production (crop estimate) Receipts, principal markets Stocks, domestic, end of month: Commercial 51,689 48, 585 40, 444 9,703 6. 822 6.819 7,204 22, 135 12, 411 10, 200 11.518 24, 692 24. 585 23, 361 26, 353 26. 779 2. 582 5, 266 2. 548 28, 254 171.419 4, 056 27, 704 6, 532 24, 285 40. 196 3. 137 1,554 1.385 25 483 124.287 2,995 1.625 1.445 1. 517 1.365 1.388 1. 261 1.283 1.193 1.368 1.264 1.434 1.292 1.542 1 . 389 1.652 1.481 55, 126 9,710 9,481 7. 787 22,042 I I 930 21,005 19. 160 78. 131 1 . 593 1.440 1.638 1.471 1. 549 1.407 1. 492 1.331 * 2. 941 9,238 34. 498 10. 858 44, 823 10,002 32, 248 10,486 27, 248 61.S49 1,067.8 3,829 10, 860 21.914 10, 769 2i; 155 9,604 21, 759 10,147 23. 800 9, 289 21 , 578 10,424 24, 565 10, 774 33, 948 . do _ _ mil of bu thous. of bu 71. 453 1.323.3 12,979 61 . 636 50. 939 32. 559 47, 299 63, 788 6,015 5,161 6, 158 51 , 394 1,919.3 10, 165 58, 785 6. 568 32, 785 312 9 4,188 38, 497 8. 895 42, 570 801 3 6. 985 35. 379 15,035 8,197 4, 364 dol. per b u _ _ . do grades do (2) 1.770 1.645 1 . 889 1. 799 1.703 1 . 870 1.774 1 . 688 1 . 721 1.617 (2! 1.764 1.667 1 . 854 1.794 1.705 1 . 795 1.801 1.712 1.798 1.782 1.709 1.762 1. 828 1.680 (2> 1. 926 1.699 (2) 1.913 1. 597 1.998 1.802 1.587 mil of bu thous. of bu._ 5, 605 8, 263 10, 137 7,923 9. 930 23, 302 15, 684 7, 503 9,224 i 1,316 9, 450 13,828 544,347 1, 190 .993 13.030 14,971 33, 213 1,103.455 227 543 .817 ,856 31 , 507 28, 173 440 . 931 17.798 ' 269 .794 27, 449 726 .980 14.889 257. 920 891 . 865 149 .918 504 1.071 T Rye: Production (crop estimate') thous. of bu. . Receipts, principal markets t _ . do._ Stocks, commercial, domestic, end of month-do Price, wholesale, No. 2 (Minn.) ...dol. per b u _ . 787 5, 851 1.878 (2) Stocks, end of month: Canada (Canadian wheaO do United States, domestic, total c?1 do_... Commercial . .. .- ... . . .do. _ Interior mills, elevators, and warehouses thous. of bu. flour do . ._ _ do Prices, wholesale: No. 1, dark northern spring (Minneapolis) dol. per b u _ _ No. 2, hard winter (Kansas City) do No 2 red winter (St. Louis") .. do Weighted avg., 6 markets, all grades do (2) 1.847 1. 637 6, 420 5, 826 6,805 21,186 17, 065 208 .992 493 ,912 11.785 516, 603 120, 540 80, 214 131,132 129, 926 26.931 841,889 254 1.015 3 .931 97 344 42, 524 37, 536 54. 961 30, 167 62. 332 30, 734 88, 472 58, 385 42, 350 73. 389 31, 647 18,109 190, 887 44, 41 8 94, 417 77, 966 53, 497 56. 873 65.013 63, 302 20, 372 23, 127 102, 340 90, 071 77, 352 76, 825 42, 642 54, 187 28, 144 81,199 15,751 73, 562 26, 529 99, 562 28, 261 140,267 292, 259 15,3.069 551,420 191,062 980, 355 295. 248 330. 758 186,612 199,749 177,402 209, 432 158,633 125, 522 125,513 129, 682 181,874 419,822 43. 343 .105 356, 857 13,024 . 105 279.413 13. 259 .104 1 62. 622 127i 364 .104 215,451 111,588 .091 383. 344 133. 772 .083 697,198 157,879 . 090 719, 664 191,466 .094 676 066 80, 856 . 096) 642, 963 89, 502 .100 598. 059 193, 281 .105 511. 299 1,510 4. 036 1.923 1,031 2. 733 1.883 901 2 006 1.834 1.800 2.423 1.790 5. 995 5.129 1.642 2. 330 6.183 1.659 1,381 6.471 1.817 806 6.217 1.933 121. 395 1 , 267 6, 344 2. 051 741 6,136 2. 036 636 5,844 1.915 26, 284 29, 072 216, 427 213.163 89. 767 76, 982 r 1 20. 622 73. 485 .105 " 864 5, 321 2.027 1 mil. of b u _ . thous. of bu._ - 41,663 10. 893 25, 664 Rice: Production (crop estimate) thous. of bu. . California: 45, 169 Receipts, domestic, rough thous. of lb_ 25,414 Shipments from mills, milled rice _ ..do. Stocks, rough and cleaned (cleaned basis), end 64, 246 of month thous. of Ib Southern States (Ark., La.. Term., Tex.): 55, 144 Receipts rough at mills thous. of Ib 118,987 Shipments from mills, milled rice - do _ _ Stocks, domestic, rough and cleaned (cleaned basis), end of month thous. of Ib.. 482, 688 64,103 Exports do . . 105 Price, wholesale, head, clean (N. O.)--dol. p e r l b _ _ Exports, total, including Wheat only 54.519 13,004 33,010 Exports including oatmeal _. - do Price, wholesale, No. 3, white (Chicago). .dol. per bu . _ Receipts, principal markets 62. 034 mil. of bu thous. of bu .do.... do Wheat: Production (crop estimate), total 82. 196 987. 5 342. 0 i 645. 5 32, 396 282, 539 1 r r r 28, 407 290, 1 04 48, 928 53, 853 188,879 715,624 193.663 168,777 166,795 177,355 177.369 200, 642 101.052 217. I l l 38. 601 33. 095 2. 520 2. 401 2. 444 2. 408 59. 4H2 52, 087 2. 532 2. 435 ! 2. 470 2. 440 47. 677 42, 073 2. 384 2. 305 ! 2. 421 i 65. 841 66, 140 167.086 160. 577 3P6. 204 157.848 | 21 1 , 870 233 527 31,013 325, 879 89 129 73 5S7 ! 72. 63 S 42. 3(i6 ! 39. 706 2. 448 2. 34:1 2. 191 i 2. 348 j 143, 643 29. 220 ~~~"42~819 38, 500 27. 458 2.475 2. 307 i 2.213 2.313 2. 464 2. 330 2" 339 60, 975 262, 813 47, 284 35, 730 209,143 164.425 223, 849 1,128,018 238, 443 "224."94l" ""202,464 272, 960 131 963 480, 862 39. 797 "~ 33." 576" 30,140 35. 439 2. 51 7 2.452 2. 488 2. 404 2.442 2. 383 2. 402 2, 341 218,333 856, 479 199. 947 163,161 "144,640 39, 376 34, 962 201. 607 113,051 339. 336 35. 090 29, 667 44, 646 41, 043 46, 435 41,794 2. 597 2. 540 2. 565 2 472 2. 568 2. 541 2. 625 2. 488 2.546 2. 519 2. 555 2.471 2. 505 2.492 2. 547 2. 422 24. 341 342. 438 206. OfiS 520, 869 124,865 111.837 80 630 201.500 2. 540 2. 496 2. 492 2. 436 Wheat flour: Production: 18. 386 19,653 18. 795 21 , 055 19.876 21, 212 17.091 18.026 18,519 17, 233 1 8. 529 19, 706 Flour thous. of sacks (100 lb.)__ 8S. 5 17, 920 82, 0 84 4 73. 4 88.2 86.4 83. 0 79. 6 7.n. 4 Operations, percent of capacity 76.5 403. 21 5 376, 000 456, 496 375, 647 429, 296 338, S6f 395, 893 i 377. 944 342. 902 364.103 368, 285 Offal short tons. . 386, 39S 364. 000 46, 684 43, 333 49, 683 45, 928 43, 789 49 ? 342 43, 337 39, 987 39, 958 43, 049 42, 1,56 Grindings of wheat thous. of bu . . 45,860 42, 025 Stocks held by mills, end of month 4.701 4, 712 4. 494 4 839 thous of sacks (100 Ib ) 1,895 2. 328 1,870 1,475 1,546 1,992 1, 854 1. 116 3,174 756 2,148 2, 363 Exports do Prices, wholesale: Spring, short patents (Minneapolis)* 6. 044 5. 865 5. 720 6. 138 5. 885 5. 935 6. 019 5. 894 6.0i3 6. 245 6. 1 44 6.010 6. 238 dol. per sack (100 Ib.).. 5. 650 5. 575 5. 850 5. 710 5. 600 5.713 5. 744 5. 725 5. 690 5. 725 5.713 5. 600 5.800 Winter, hard, short patents (Kansas City)*_do.._ l 2 ' Revised. December 1 estimate. No quotation. f Revised series. Data are furnished by the Chicago Boarc I of Trade and represc>nt receipt > at 12 interior primal y markets ; for name ^ of marke ts and datei for January 1948-Ju ly 1950, see note marked "f" on p. S-28 of the October 1951 SUE VEY. c? The total includes wheat owned by the Comniodity Cre dit Corpor ition arid s^tored off f irnis in its own steel ind woode n bins; sue h data are not includ ed in the b reakdown of stocks. *New series. Data prior to February 1951 will 1DC shown Ititer. SURVEY OF CURRENT BUSINESS May 1952 Unless otherwise stated, statistics through 1950 and descriptive notes are shown in the 1951 Statistical Supplement to the Survey S-29 1951 March April May June July 1952 August September October November December January February March FOODSTUFFS AND TOBACCO—Continued LIVESTOCK Cattle and calves: Slaughter (Federally inspected): Calves thous. of animals.. Cattle do_._. Receipts, principal markets do Shipments feeder, to 8 corn-belt States do Prices, wholesale: Beef steers (Chicago) dol. perlOOlb.. Steers, stoeker and feeder (Kansas City)-do Calves, vealers (Chicago) do Hogs: Slaughter (Federally inspected) thous. of animals.. Receipts, principal markets do Prices: Wholesale, average, all grades (Chicago) dol. per 100 lb_. Hog-corn ratio bu. of corn equal in value to 100 Ib. of live hog_. Sheep and lambs: Slaughter (Federally inspected) thous. of animals.. Receipts, principal markets do Shipments, feeder, to 8 corn-belt States-_. -do Prices, wholesale: Lambs, average (Chicago) dol. per 100 lb_. Lambs, feeder, good and choice (Omaha) .do 447 965 1,444 131 406 894 1, 552 151 414 986 1,555 124 406 787 1,345 111 408 920 1.754 173 422 1,064 2,066 293 373 956 2,307 515 500 1,140 2,928 893 457 1,122 2,063 460 344 998 1,533 200 382 1,096 1,648 133 343 985 1,481 158 397 927 1, 473 143 35.62 35.12 36.50 35.95 35.64 38.90 35.71 34.29 37.25 35.68 32.83 38.31 35.75 31.61 37.40 36.39 32. 59 36.75 36.99 31.90 36.25 36.75 31.97 37.10 36.29 31.63 36.00 34. 59 30.45 36.00 34.25 31.19 36.50 33.78 32.06 37.00 33.41 31.99 38.50 5,117 3,072 4,989 3,060 4,952 4,700 2,856 2,630 4,236 2,765 4,398 2,743 5,651 3,460 6,531 4,098 6,912 4,174 6,835 4,373 5,779 3,626 5,776 3,501 21.62 21.01 20.77 21.07 20.36 20.35 19.62 20.09 18.30 17.74 17.42 17.07 16.56 13.2 12.7 12.4 13.0 12.8 12.8 11.9 12.4 11.1 10.4 10.4 10.4 10.1 738 717 657 807 157 657 956 258 811 964 164 1,076 168 1,310 492 827 1,821 703 1,084 2,152 822 922 1,157 305 810 946 119 1,042 1,150 123 990 971 109 971 988 119 40.50 0) 39.25 0) 35.50 0) 35.00 0) 31.75 0) 31.50 31.34 31.25 32.64 31.00 32.00 31.00 31.31 30.75 30.50 30.25 0) 28.00 0) 26.88 0) 1,537 984 66 1,479 967 77 1,537 908 79 1,442 847 81 1,387 748 84 640 62 1,374 550 56 531 44 1,841 728 87 966 108 1,977 1,146 113 1,715 1, 656 ' 1, 264 1, 306 115 576, 081 139, 378 467 537, 799 117,821 595, 451 106, 463 385 483,836 96, 041 348 556,897 94,900 472 617,158 101, 377 769 553,317 102,301 2,643 648,917 135, 560 892 645, 256 198, 647 2,189 585,399 234,679 850 656,307 256, 247 660 557, 237 593,420 ' 265, 700 273, 363 1,006 MEATS Total meats (including lard): Production (inspected slaughter) mil. of lb_. Stocks, cold storage, end of month do Exports do Boef and veal: Production (inspected slaughter) thous. of lb_. Stocks, cold storage, end of month do Exports do Price, wholesale, beef, fresh, steer carcasses, choice (600-700 Ibs.) (New York) dol. per lb_. Lamb and mutton: Production (inspected slaughter) thous. of lb_. Stocks, cold storage, end of month do Pork, including lard, production (inspected slaughter) thous. of lb_. Pork, excluding lard: Production (inspected slaughter) do Slocks, cold storage, end of month do Exports do Prices, wholesale: Hams, smoked, composite dol. perlb.. Fresh loins, 8-12 Ib. average (New York)__do Lard: Production (inspected slaughter) thous. of lb_. Stocks, cold storage, end of month do Exports do Price, wholesale, refined (Chicago) ...dol. per lb_. .576 .578 .583 .578 .576 .578 .594 .601 .599 .579 .571 .562 36, 529 7,727 32, 603 5,435 31, 457 5,862 35,892 5,235 38,061 6,211 39, 369 6,407 36, 652 7,227 47,490 9,767 42,803 12, 536 37,915 13,720 50,536 13,840 48,986 13,532 924, 237 908, 712 910, 332 922, 354 791, 554 831,556 784,336 971,381 1,153,267 1,242,339 1, 269, 791 1,072,252 1,050, 706 684, 025 648, 384 5,486 672,100 654,497 3,710 665,162 616, 231 4,488 672, 784 572, 372 6,113 576, 759 496,171 5,851 614,815 401, 573 5,833 579, 276 325, 959 5,753 718, 673 276, 255 8,899 850,917 381,870 7,484 905,863 548,604 11,257 931, 607 704, 992 10, 337 771,472 • 793,870 7,675 759, 957 809, 963 .591 .461 .565 .463 .568 .474 .574 .488 .573 .574 .544 .559 .574 .557 .549 .460 .544 .427 .546 .433 .527 .424 .526 .448 175, 502 78, 352 55, 519 .213 173,137 75,171 66, 995 .203 179, 686 68, 639 182, 936 68, 754 67,886 .200 157, 111 46, 820 72,030 .198 158, 700 34, 702 48,398 .198 149, 769 28,372 41, 753 .208 184,705 31,344 29,808 .209 221,097 39, 229 70,076 .180 246,363 53,614 88,194 .190 248,037 49, 284 96,445 .175 35, 273 147, 203 .377 43,097 125, 359 .350 52,380 112,369 .308 42.360 106,692 .289 46,157 121, 493 63, 264 166, 242 .276 77,471 259,920 .261 87, 278 309,943 .248 76,887 302,151 .284 35, 651 300,000 .275 6,318 2,790 6,156 3,602 5,270 2,652 4,711 4,231 4,007 4,240 370 4,215 357 4,609 429 973 109, 253 2,083 162, 659 2,427 189,980 2,270 190,818 1,615 176, 273 958 151, 293 527 121, 592 230 95,143 141 67,200 .475 .478 .517 .514 .664 .496 54,385 71,824 100,170 113,945 113,842 97,030 15,636 .351 23,235 .355 9,622 .341 6,090 .321 15,555 .295 16,570 .326 32,640 .331 27,023 .358 521 551 1,253 1,419 888 591 1,293 1,482 962 619 1,217 1,792 1,089 736 1,742 1,725 1,008 562 1,882 1,609 945 689 2,049 1,604 871 658 1,975 1,331 758 955 2,292 r 48, 201 15,911 220,934 213,346 ' 53,816 68, 702 100,339 .175 POULTRY AND EGGS Poultry: 34,806 Receipts, 5 markets thous. of lb_. 192, 913 Stocks, cold storage, end of month do .364 Price, wholesale, live fowls (Chicago) § dol. per lb. _ Eggs: 6,340 Production, farm million! 2,159 Dried egg production ___thous. of lb_Stocks, cold storage, end of month: 309 Shell thous. of cases.. 62, 298 Frozen thous. of l b _ _ Price, wholesale, extras, large (Chicago) dol. per doz. .630 r 35,067 • 270,397 .295 42, 273 233,482 .295 5, 715 1,681 6,441 2,325 ••942 60, 576 1,603 84,444 5,408 894 238 53,055 r .382 MISCELLANEOUS FOOD PRODUCTS Confectionery, manufacturers' sales*. _thous. of dol _ Cocoa: Imports long tons-. Price, wholesale, Accra (New York)..dol. per lb-Coffee: Clearances from Brazil, total thous. of bags.To United States do Visible supply, United States}: do Imports do Price, wholesale, Santos, No. 4 (New York) dol. perlb__ Fish: Landings, fresh fish, 5 ports thous. o f l b _ _ Stock, cold storage, end of month do r 80,000 68,000 65,000 48, 483 .384 25, 526 .384 32, 373 23, 778 .383 655 785 1,457 1,281 847 754 1,485 837 572 690 1,325 1,447 934 1,020 2,344 84,067 .548 .545 .544 .536 .532 .536 .543 .545 .543 .541 .550 .550 43,321 96,367 57, 916 67, 200 105, 944 68, 613 127,351 70,310 146,891 69, 618 161, 628 54, 520 166,100 50,468 171, 924 38,843 179,135 25,946 168,792 23,139 148,113 29,224 125,704 78, 050 .384 1, 521 899 966 1 Revised. No quotation. § Series revised to represent quotations for heavy type. *New series. Compiled by the U. S. Department of Commerce, Bureau of the Census, representing estimated total sales by manufacturers of confectionery and competitive chocolate products. The figures exclude sales of chocolate coatings and cocoa produced by chocolate manufacturers and sales by manufacturer-retailers with a single business location, t For revised data for July 1949-October 1950, see note marked "%" on p. S-29 of the January 1952 SURVEY. SUKVEY OF CUERENT BUSINESS S-30 Unless otherwise stated, statistics through 1950 and descriptive notes are shown in the 1951 Statistical Supplement to the Survey May 1952 1952 1951 March April May June July August September October November December January February March FOODSTUFFS AND TOBACCO—Continued MISCELLANEOUS FOOD PRODUCTS— Con. Sugar: Cuban stocks, raw, end of month thous. of Spanish United States: Deliveries and supply (raw basis): Production and receipts: Production short Entries from off-^hore Hawaii and Puerto Rico - tons_. do do Deliveries total do For domestic consumption do For export do Stocks, raw and refined", end of month thous. of short tons.. Exports, refined sugar short tons__ Imports: Raw sugar, total _ __do From Cuba do From Philippine Islands -- do Refined sugar, total From Cuba Price (New York) : Raw, wholesale Refined: Retail Wholesale Tea, imports r tons__ r r 2. 563 3,538 3,838 3,137 2,573 1,977 1,602 952 577 427 718 1,883 3,033 40, 570 564, 059 164, 129 34, 751 567, 747 171, 703 18, 463 563, 138 260, Oil 47, 954 620, 832 284, 460 31,386 594, 611 228, 452 27, 762 542, 615 195, 252 98, 067 396, 322 111,020 464, 289 444 726 92, 575 627 848 314 637 102 389 472, 810 164 866 155, 925 84 442 364 959 72, 083 32 439 293 390 40 217 24 680 699 525 221 145 534. 673 £29. 584 r 5. 089 532, 257 1, 104, 322 520, 335 1,094,004 11, 922 10, 318 824, 919 821,213 3,706 519,795 511,268 8,527 676, 096 670, 503 5,593 646, 163 643, 958 2,205 678, 741 676, 573 2,168 546 529 544, 224 2 305 556, 802 536, 614 20 188 581 376 rr 556 334 578, 699 554, 731 2 677 1 653 850 649 848, 574 2 575 r 1, 724 3,933 1,818 16, 218 1,285 21,079 1,090 25, 412 1,217 10, 656 1,121 3,399 958 2,011 1,169 1,470 1,540 1,005 1,756 18, 264 1,613 867 1,473 1 122 344, 935 266, 755 78, 165 344, 583 242, 238 102, 344 285, 133 175, 481 109, 643 271,882 174,534 97, 342 314, 392 230, 304 79, 723 311, 704 246, 113 54, 807 252, 570 212, 522 40, 041 242,519 226 799 11, 984 236, 919 226 225 10, 191 75, 340 74, 217 1,120 248, 724 223 704 25,017 275 173 232 234 42 938 40, 489 40, 489 39, 665 39, 465 36, 834 36, 534 29, 310 29, 168 35, 197 35, 197 32, 735 32, 728 28,013 28, 013 45, 251 45 251 4,926 4 424 o 1 10, 221 10 220 22 073 21 873 dol. per lb__ .059 .058 .063 .066 .063 .060 .060 .059 .060 .058 .058 '.059 .062 dol. per 5 lb_. .dol. per lb_. _ _.thous. of lb__ .488 .081 9,627 .501 .081 11, 973 .480 .082 7,208 .482 .084 5,704 .492 .086 7,173 .497 .084 7,152 .496 .083 5,835 .486 .081 4,945 .482 .081 5,624 .482 .081 6,713 .483 .081 7,769 .480 .080 6 659 .476 .080 - __do do TOBACCO Leaf: Production (crop estimate) mil. of Ib Stocks, dealers' and manufacturers', end of quarter total mil. of Ib Domestic: Cigar leaf do Air-cured, fire-cured, flue-cured, and miscellaneous domestic mil. of Ib Foreign grown: Cigar leaf do Cigarette tobacco do Exports, including scrap and stems. _ -thous. of lb_ Imports including scrap and stems _ _ __ do. __ 1, 241 * 2 282 3,942 3,573 3,760 398 404 373 352 3,355 2,973 3,203 3,732 16 172 29, 448 8,020 Manufactured products: 19, 677 Production, manufactured tobacco, total... do 7,328 Chewing plug, and twist do 8,784 Smoking do 3,565 Snuff do Consumption (withdrawals) : Cigarettes (small): 2,600 Tax-free - millions. _ 30. 160 Tax-paid _ do 455, 351 Cigars (large) tax-paid . thousands. Manufactured tobacco and snuff, tax-paid 18, 423 thous. oflb.. 1,564 Exports cigarettes millions Price, wholesale, cigarettes, manufacturer to wholesaler and jobber, f. o. b., destination* 3.969 dol. per thous. . 4 273 32, 804 7, 597 25, 718 8,733 17 180 26, 794 7,832 24,068 8,018 48, 266 9,812 17 166 74, 746 8,404 87, 519 13, 702 60, 337 10, 302 18 170 60, 623 5,734 33, 489 8, 572 29 752 8 860 18, 706 6,674 8,732 3,299 20, 145 7,541 9,103 3,501 19, 581 7,475 8,897 3,209 15,777 6,708 6,819 2,250 21, 665 8,240 9,741 3,684 19, 777 7,049 9,669 3,060 18, 292 7,120 8,017 3,154 20, 624 7,853 9,243 3,528 14,958 5, 739 6,018 3,201 19, 884 7,516 8,619 3,749 18, 553 7 253 7 826 3 473 3,159 29, 524 444, 006 3,996 32, 776 478, 693 3,463 32, 474 502, 592 2,444 29, 739 421, 758 3,499 35, 601 533, 739 2,773 30, 800 490, 938 3,416 37, 477 590, 616 3 708 33, 994 554, 341 3, 508 23, 847 367, 906 4,141 37, 598 494 556 18, 451 1,381 19, 272 1,401 19, 091 1,404 15, 806 1,140 21, 551 1,704 19, 486 1,443 14, 374 1,208 24,005 1 742 14, 353 1 443 19, 450 1 517 18, 490 1 215 16, 759 3.969 3.969 3.969 3.969 3.969 3.969 3.969 3.944 4.027 4.027 4.027 4.027 2 974 29 308 446 560 r 29 552 478 101 LEATHER AND PRODUCTS HIDES AND SKINS Imports, total hides and skinsj thous. of lb__ Calf and kip skins thous. of pieces__ Cattle hides|_ do GoatskinsJ do Sheep and lamb skins do Prices, wholesale (Chicago): Calfskins, packer, heavy, 9^/15 lbs.*___dol. per lb__ Hides, steer, heavy, native, over 53 lbs.*___do 20, 247 218 222 2,976 1,533 18, 177 203 175 3,230 1,580 22, 301 285 280 3,616 1,655 23, 864 195 325 2,755 1,949 30, 220 355 437 3, 137 1,423 30, 707 136 416 2,819 2,632 26, 012 78 191 1,931 5,753 21, 212 105 202 1, 814 2,358 13, 057 78 158 1,821 925 11, 424 110 116 1, 864 1,132 12, 972 81 186 2,367 668 10, 717 26 109 1,622 880 .775 .338 .800 .330 .800 .330 .800 .330 .650 .330 .557 .308 .486 .323 .475 .310 .399 .216 .379 .188 .400 .140 .375 .133 559 1,885 2,469 1,873 492 1,644 1,830 1,674 607 1,859 2,011 2,138 568 1,748 1,837 2,163 603 1,555 2,059 1,894 717 ' 1, 880 ' 2, 614 2,047 805 1,862 2,513 2,279 7 10 2,312 18 17 1,706 3 7 1,118 18 89 2,621 17 82 2,321 8 43 1,549 27 113 1,925 LEATHER Production: 904 805 619 574 Calf and kip thous. of skins 459 2,220 1,916 1,956 1,878 1,534 Cattle hide . thous. of hides. _ 3,435 3,100 2,917 2,620 2.038 Goat and kid thous. of skins. _ 2,492 1,968 1,835 1,478 1,480 Sheep and lamb do Exports: Sole leather: 17 12 56 32 83 Bends, backs, and sides -thous. of lb_. 17 78 14 48 86 Offal, including belting ofTal do 2,776 2,087 Upper leather.,.. thous. of sq. f t _ _ 1,368 1,577 1,833 Prices, wholesale: .880 .856 Sole bends heavy, f o b tannery* dol. per Ib Chrome calf, black, B and C grades, f. o. b. tan1.150 1.022 nery* dol. per sq. f t _ _ r 1 2 Revised. December 1 estimate. Specification changed; earlier data not strictly comparable. *New series. Compiled by U. S. Department of Labor, Bureau of Labor Statistics; data prior to February f Revisions for 1950 are shown in corresponding note in the October 1951 issue of the SURVEY. .776 .776 .700 .660 .630 .600 2.525 .955 .955 .906 .807 .808 .787 2.842 1951 will be shown later, " SUEVEY OF CURRENT BUSINESS May 1952 Unless otherwise stated, statistics through 1950 and descriptive notes are shown in the 1951 Statistical Supplement to the Survey S-31 1952 1951 April March May June July August September October November December January February March LEATHER AND PRODUCTS—Continued LEATHER MANUFACTURES Shoes and slippers: t Production, total _ _ _ thous. of pairs. _ Shoes, sandals, and play shoes, except athletic, total thous. of pairs. _ By types of uppers :c? All leather _ do Part leather and nonleather do By kinds: ATen's do Youths' and boys' do Women's _ do Misses' and children's do Infants' and babies' _ do_ __ Slippers for housewear do Athletic do Other footwear do Exports§_ _ do Prices, wholesale, f. o. b. factory:* Men's and boys' oxfords, dress, cattle hide upper Goodyear welt dol. per pair Women's oxfords (nurses'), side upper, Goodyear welt dol per pair Women's and misses' pumps, suede split.do 47, 198 39, 635 38, 303 37, 578 32, 530 43, 234 36, 130 38, 783 34 884 32 227 41, 306 42, 518 42, 799 35,412 34, 152 33, 429 28, 465 37, 532 30, 844 32, 822 29 462 28, 794 38, 290 39, 133 37, 785 4, 154 30, 638 4,077 29, 480 3,988 28, 905 3,877 25, 020 2,909 32, 796 3,839 26, 862 3 105 29, 450 3 372 26, 262 3 200 25, 511 3 283 33, 694 4,596 34, 081 5 052 10, 652 1,238 21, 718 5,654 3, 537 3,722 9,340 1,025 17, 807 4,294 2,946 3,636 9,744 1,201 15, 934 4,282 2,991 3,566 9,245 1,284 15, 844 4,365 2,691 3,612 6,898 1,132 15,057 3,366 2,012 3,609 9,156 1,468 19, 862 4,480 2,566 5,091 7 969 1,258 15, 580 3 800 2,237 4 660 8 755 1,319 15, 713 4 321 2,714 5 395 7 739 1 097 13,711 4 290 2,625 4 930 7 023 1 068 13, 740 4 356 2,607 3,032 8 541 1,371 20, 365 5,667 3,189 2,851 180 312 359 176 225 302 8 577 1,263 19, 676 5 623 3,151 2 511 216 289 219 233 301 321 339 338 401 299 288 338 255 330 307 211 326 247 152 304 197 198 413 289 189 437 283 205 361 229 5.655 5.655 5.577 5.550 5.467 i 5 760 5 760 5 623 5 586 5 523 5 523 5 523 5 053 3.967 5.053 3.967 5.053 3.967 5 037 3.967 5 037 3.967 5 037 3.933 5 037 3.933 4 836 3.933 4 711 3.933 4 678 3.890 4 678 3. 801 4 861 3.767 45 836 142, 814 92, 918 168, 582 LUMBER AND MANUFACTURES LUMBER—ALL TYPES Exports total sawmill products M bd ft Imports, total sawmill products do National Lumber Manufacturers Association: Production, total mil. bd. ft Hardwoods -----_ do Softwoods ._. do __ Shipments, total ----- do Hardwoods do Softwoods _- - do Stocks, gross (mill and concentration yards), end of month, total mil. bd. ft Hardwoods do Softwoods - - _ do SOFTWOODS Douglas fir: Orders, new do Orders, unfilled, end of month do Production do Shipments do Stocks, gross, mill, end of month do Exports total sawmill products M bd. ft Sawed timber do Boards, planks, scantlings etc do Prices, wholesale: Dimension, No. 1 common, 1" x 4", R. L. dol per M bd ft Flooring, B and better, F. G., 1" x 4", R. L. dol per M bd ft Southern pine: Orders, new mil. bd. f t _ _ Orders, unfilled, end of month do _ Production _ _ _ do Shipments do Stocks, gross (mill and concentration yards), end of month mil bd ft Exports, total sawmill products M bd ft Sawed timber do Boards planks scantlings etc do Prices, wholesale, composite: Boards, No. 2 and better, 1" x 6" x R. L.* dol per M bd ft Flooring, B and better, F. G., 1" x 4" x S/L* dol per M bd ft Western pine: Orders, new mil. bd. ft Orders, unfilled, end of month. __do__ Production _ do Shipments do Stocks, gross, mill, e n d o f month _ _ _ _ _ d o Price, wholesale, Ponderosa, boards, No. 3 common 1" x 8" dol per M bd. ft 2 76, 137 230, 218 64, 985 232, 287 83, 538 213, 085 93, 155 204, 938 96, 309 221, 873 102 473 220, 111 76 745 206, 517 106 072 232, 368 81 445 213, 655 80 555 160, 885 3,288 3,469 3,793 3,660 3,147 3,584 3,200 3 514 3,210 2,632 2,797 2,870 3,031 2,512 3,448 2,709 3,454 2,987 3,474 2,823 3,171 2,380 2,741 2,817 3,231 2,454 2,937 2,773 3,412 2,524 3,163 1,987 2,541 2,186 3,021 2,195 2,950 2,309 3,024 2,661 2,668 2,782 2,539 2,169 2,637 2,363 2,757 2,473 1,941 2,402 2,269 2,328 6,285 2,233 4,052 6,300 2,207 4,093 6,584 2,321 4,263 7,111 2,526 4,585 7,543 2,720 4,823 7,870 2,893 4, 977 8,132 3,065 5,067 8,193 3,152 5,041 8,240 3,148 5,092 8,364 3,193 5, 171 8,311 3,186 5,125 8,232 3,180 5,052 8,211 3,179 5,032 1,008 925 904 1,025 631 36, 452 11,400 25, 052 963 966 742 737 867 776 788 760 786 890 978 998 611 36, 794 11, 784 25,010 806 692 889 1,045 1,012 607 43, 359 13, 792 29, 567 837 632 704 954 882 717 48, 441 12, 010 36, 431 767 572 644 708 656 795 38, 329 11, 744 26, 585 767 594 509 987 926 830 54, 086 12, 453 41, 633 746 574 741 655 686 690 645 600 611 619 675 681 835 923 764 754 752 814 806 374 981 245 898 904 717 1,065 799 1,001 830 961 860 861 38, 438 7,421 31,017 836 47, 677 20 823 26, 854 841 43, 886 21 143 22 743 924 43, 794 14 856 28, 938 971 15, 250 9 110 6, 140 830 965 892 668 918 833 968 55, 541 17 657 37, 884 83 902 83. 937 83. 657 82. 268 82. 068 81. 935 82. 212 82 648 81 741 81 368 81 508 82. 467 132. 700 132. 700 132. 700 131. 998 130. 230 129. 842 129 842 128 617 128. 209 126. 575 126. 575 785 449 678 392 689 331 605 299 619 286 742 329 697 370 808 381 748 312 762 735 1,417 12, 061 3, 405 8,656 1,444 9,087 1,573 7,514 816 750 695 637 1,510 10, 695 3,457 7,238 1,568 9,329 2,589 6,740 677 632 707 699 1,613 20, 652 3,791 16,861 1,621 11, 929 2,677 9,252 696 514 860 132 700 769 788 722 622 656 1,587 14, 292 2,336 11, 956 639 337 695 683 553 310 728 797 1,518 16, 996 3,522 13, 474 1,530 9,505 2 714 6,791 1,576 11, 665 3 725 7, 940 626 580 835 993 712 327 707 697 700 318 791 746 1,621 8,878 1 390 7 488 1,631 11, 975 2, 595 9,380 1,610 80. 708 80. 374 79. 861 78.811 78. 411 78. 625 78.915 79 735 80 612 80 797 80 642 80. 196 155. 520 155. 061 155. 061 155.061 155. 061 1 55. 061 155. 061 155. 061 155. 061 155. 061 155. 061 155. 061 565 709 548 541 683 731 659 630 740 742 792 701 763 754 847 723 724 734 741 644 749 701 801 716 700 714 684 614 747 745 744 690 635 714 641 619 530 716 419 478 552 684 355 485 490 472 390 471 1,305 1,334 1,427 1,551 1,648 1,733 1,803 1,857 1,879 1,820 1,690 1,609 85.35 87.07 86.45 85.73 84.13 81.68 78.97 78.85 78.17 78.74 78.58 79.22 279, 415 283, 104 60, 610 264, 094 263, 884 59, 080 285, 278 275, 490 65, 801 281, 340 280, 908 65, 529 195, 059 178, 875 80, 323 283, 321 270, 994 91,462 242, 823 235, 627 97, 932 269, 629 257, 805 110, 649 187, 254 189, 383 108, 524 176, 132 195, 259 88, 552 244, OH 238, 911 92, 577 253, 303 260, 720 84, 739 5,200 20, 550 5.800 5,875 4,550 5,075 20, 000 5,700 5,425 4,875 3,775 19, 025 5,400 4,850 5,325 4,300 17, 350 5,550 5,300 5,675 3,675 16, 975 4,050 4,000 5,600 4,550 15, 650 5,450 5,200 5,850 3,175 14, 500 4,800 4,100 6,500 3,700 13, 500 4,750 4,350 6,900 3,350 12, 950 3,900 3, 600 7,300 3,150 12, 300 3,750 3,550 7,575 4,800 13, 050 4,500 3,750 8,250 3,550 12, 250 4, 150 4,250 8,050 688 709 498 465 481 505 1,585 SOFTWOOD PLYWOOD Production thous of SQ ft Shipments Stocks end of month HARDWOOD % // eQuivalent do do FLOORING Maple, beech, and birch: Orders, new _ _ _ M bd. ft_ Orders, unfilled, end of month do Production _ _ _ do Shipments _ _ _ _ do Stocks, mill, end of month do 3,600 11, 700 4,350 3,800 8,600 r 2 Revised. 1 Specification changed; earlier data not strictly comparable. Data beginning January 1952 have been adjusted to conform to the 1952 revision of the export schedule. J Revisions for January-October 1950 are available upon request. c?1 The figures include a comparatively small number of "other footwear" which is not shown separately from shoes, sandals, etc., in the distribution by types of uppers; there are further small differences between the sum of the figures and the totals for shoes, sandals, and play shoes, because the latter, and also the distribution by kinds, include small revisions not available by types of uppers. § Excludes "special category" items. * New series. Data are compiled by the U. 8. Department of Labor, Bureau of Labor Statistics; monthly data prior to March 1951 (February 1951 for softwoods) will be shown later. SURVEY OF CURRENT BUSINESS S-32 Unless otherwise stated, statistics through 1950 and descriptive notes are shown in the 1951 Statistical Supplement to the Survey May 1952 1951 March May April June July 1952 August Septem- ber October Novem- ber Decem- ber January Febru- ary March LUMBER AND MANUFACTURES—Continued HARDWOOD FLOORING— Continued Oak: Orders, new Orders unfilled end of month Production Shipments Stocks mill, end of month - M bd. ft_ do _ -- do do -_ do_ __ 68, 904 82, 647 87, 050 81, 866 43, 370 81, 813 92, 804 93, 657 90, 960 38, 186 65,806 65, 620 94, 499 85, 922 51, 947 51,757 53, 093 81, 269 71.488 61, 728 65, 721 54, 740 71, 301 69, 053 63, 976 83, 288 57, 246 83, 699 80, 782 64, 635 84, 032 65, 778 74, 297 75, 500 63, 432 83, 335 66, 613 86, 628 85, 372 64, 688 57,156 54, 985 81,035 73, 263 72, 460 49, 607 53, 002 64, 181 54,554 82, 087 77, 919 56, 995 78, 657 73, 926 86, 818 87, 840 67 795 73 094 77, 040 82, 872 344, 232 21, 533 219, 274 24,630 417, 589 ' 19, 115 257, 307 22, 013 402, 242 21, 992 235, 157 15, 169 407, 051 16, 247 181, 703 9,285 80 919 76 931 75 660 77, 366 81 168 METALS AND MANUFACTURES IRON AND STEEL Foreign trade: Iron and steel products (excl. advanced mfrs.) : ExDorts, total short tons. FcrapO do _ Imports, total _ _ _do Scrap do 299, 794 21, 587 387, 851 22, 260 296, 954 r 20, 111 378, 358 19, 086 280, 662 r 14, 456 292, 784 14, 102 287, 245 r 21, 829 315,363 28, 993 6,930 3,457 3,473 4, 431 1,220 3,211 6,707 3,331 3,375 4,215 1,104 3,111 6,828 3,370 3,458 4,154 1,123 3,031 6,377 3,187 3,190 4,112 1,170 2,941 5,934 3,043 2,892 4,199 1,171 3,028 3, 525 2,453 9,829 8,795 8, 837 9,757 14, 362 14, 990 9,128 14, 932 15, 783 8,277 0 7,372 17,335 14,919 2,417 6,211 7, 235 15, 072 13, 258 1,813 12, 664 7,761 19, 772 17, 696 2,075 741 81 83 2,390 1,440 2,337 1, 363 353, 346 r 17, 829 405, 191 54, 489 r 306,310 349, 615 ' 22, 213 >• 25, 455 279, 818 255, 268 26, 074 17,116 296, 081 r 20, 651 248, 186 17, 417 6,288 3,240 3,048 4,427 1,212 3,215 6,023 3,127 2,896 4,437 1,215 3,222 6,574 3,409 3,165 4,492 1,255 3,237 6,268 3,244 3,024 4,422 1,240 3,183 6,141 3,166 2,975 4,366 1,199 3,168 6,549 3,426 3,123 4,356 1,166 3,190 15, 103 16, 251 7,129 15, 832 16, 448 6, 515 14, 764 14, 900 6,381 13, 900 14, 623 5,639 7,052 7,500 5,182 3,682 3,132 «• 5, 794 3,704 2,108 7,404 3,605 2,160 8,849 13, 574 7,556 33, 142 29, 299 3,843 1,083 13, 229 7,699 39, 920 35, 057 4,863 1,049 12, 672 7,473 45, 453 39, 504 5,950 848 11,089 7,749 50, 229 43, 425 6,804 1,103 5,695 7,624 49, 099 42, 258 6,841 834 13, 166 7,499 26, 423 23, 731 2,692 1,235 791 7,639 43, 711 37, 315 6,396 0 7,527 35, 927 30, 369 5,558 0 7,229 29, 207 24, 693 4,514 49 85 52 69 71 67 79 65 78 70 2,229 1,397 2,162 1,309 2,208 1,029 2,145 1,219 1,983 1,302 1,934 1,184 568 698 2,055 1,115 1,847 1, 033 1,801 1,199 1,766 1, 155 743 694 655 r Iron and Steel Scrap Consumption, total § thous. of short tons Horne scrap do Purchased scrap do Stocks consumers', end of month, total§ do Home scrap do Purchased scrap do Ore Tron ore: All districts: Mine production thous. of long tons Shipments do Stocks at mines, end of month do Lake Superior district: Shipments from upper lake ports do Consumption by furnaces do Stocks, end of month, total do At furnaces « .« _ - do On Lake Erie docks do_ Imports do Manganese ore, imports (manganese content) thous of long tons 661 747 656 659 624 0 8,022 21, 451 18, 081 3,369 Pig Iron and Iron Manufactures Castings, gray iron:§ Orders, unfilled for sale thous of short tons Shipments, total do For sale doCastings, malleable iron:§ Orders unfilled for sale short tons Shipments total do For sale _ do Pig iron: Production thous. of short tons Consumption! do Stocks (consumers' and suppliers'), end of month § thous of short tons Prices, wholesale: Composite _ dol. per long ton Basic (furnace) do Foundry, No. 2, f. o. b. Neville Island do 767 796 270,091 102,173 60,771 279,561 97,921 58,199 277, 778 101, 345 61, 918 258,144 94,376 57,176 263,017 76, 826 45,072 249, 273 90, 727 57,164 6,016 6,054 5,888 5,914 6, 173 6,184 5,978 5,989 6,070 5,955 6,063 6,001 818 626 733 674 244, 575 82, 276 48, 568 238, 019 93, 884 58, 251 220, 740 88, 210 53, 682 215, 134 76, 045 45, 543 202, 799 87, 003 54,988 193, 061 82, 898 50, 129 5,890 5,898 6,197 6,274 5,911 5,922 5,977 5,916 6,040 6,106 5,785 6,300 53.67 583 1,623 1,603 1, 613 1,633 1,771 1,819 1,818 1,844 1,811 1,751 1,761 53.58 52. 00 52. 50 53.61 52.00 52.50 53.61 52.00 52.50 53.61 52.00 52. 50 53.61 52.00 52. 50 53. 62 52. 00 52. 50 53.67 52.00 52. 50 53.67 52. 00 52. 50 53.67 52.00 52. 50 53.67 52.00 52.50 53.67 52.00 52.50 53. 67 52. 00 52. 50 190, 365 134, 184 43, 320 181, 908 129, 059 40, 818 188, 956 130, 826 39, 194 184,424 131,219 41,605 147, 251 100, 141 27, 235 177, 096 128, 981 41,162 160, 695 116,658 34, 693 189, 929 139, 953 39, 290 176, 728 131, 276 34. 524 165,110 123, 448 32, 733 183, 738 139, 488 36, 650 174, 035 133, 205 31,317 874, 598 697, 335 177, 263 160, 917 118, 039 42, 878 924, 202 736, 701 187, 501 153,947 112, 074 41, 873 9,071 102 Steel, Crude and Semimanufactures Steel castings: Shipments, total short tons For sale, total do Railway specialties _ do Steel forgings: Orders, unfilled, total do Drop and upset do Press and open hammer do Shipments, for sale, total. _-_ ._ _ _ do Drop and upset _ do Press and open hammer do Steel ingots and steel for castings: Production thous. of short tons_. Percent of capacity t Prices, wholesale: Composite, finished steel dol. per lb_ Steel billets, rerolling (producing point) cf dol. per net ton__ Structural steel (producing point) dol. per Ib Steel scrap, heavy melting (Pittsburgh) dol. per long ton__ 11,208,350 1, 263, 657 1,361,005 1, 435, 893 1,418,515 1, 426, 645 1, 446, 118 1,410,646 r 1,471,620 1, 416, 895 1177,273 1117,475 i 59, 798 170, 371 110, 979 59, 392 147,319 95, 275 52, 044 157, 973 103, 962 54, Oil 149, 736 97, 326 52, 410 191,483 130,675 60, 808 176, 342 119,047 57, 295 165, 023 109, 014 56, 009 190, 774 129, 761 61,013 186, 842 124, 397 62, 445 8,841 103 9,094 103 8,657 101 8,679 98 8,734 99 8,655 101 9,116 103 8,794 103 8,885 101 9,136 99 8, 657 101 9,404 102 .0471 .0471 .0471 .0471 .0471 .0471 .0471 .0471 .0471 .0471 .0471 .0471 .0471 56.00 .0400 56.00 .0400 56.00 .0400 56.00 .0400 56.00 .0400 56.00 .0400 56.00 .0400 56.00 .0400 56.00 .0400 56.00 .0400 56.00 .0400 56.00 0400 45.00 45.00 45.00 45.00 45.00 45.00 45.00 44.75 44.00 44.00 44.00 44.00 10, 614 2,762 10,660 2,384 10, 451 2,605 10, 735 2,632 10, 066 2,366 9,076 2 781 8, 535 2 322 8,036 2 511 7,294 2 147 7 830 2 176 8 126 2 085 7 570 1 961 Steel, Manufactured Products Barrels and drums, steel, heavy types: Orders, unfilled, end of month thousands Shipments _ do Stocks, end of month do 48 42 47 28 31 31 24 26 32 31 66 59 7 737 2 008 58 r Revised. 0Data beginning 1951 have been adjusted in accordance with the revised export schedule to exclude exports of tinplate, circles, strips, etc.; adjusted data for January and February 1951, 9,139 and 16,812 tons, respectively. 1 The Bureau of the Census estimated industry totals beginning May 1951 are based on reports from forge shops (shipping 50 tons or more per month) which account for over 95 percent of all forgings produced. For May, shipments by the additional plants increased total shipments 13 percent; for total unfilled orders, the adjusted May figure is increased 27 percent and also includes orders for the manufacturers' own use. §Data beginning January 1951 are estimated totals derived from a survey of approximately 1,300 establishments by the Bureau of Mines and the Bureau of the Census. tFor 1952, percent of capacity is calculated on annual capacity as of January 1,1952, of 108,587,670 tons of steel; 1951 data are based on capacity as of January 1, 1951, of 104,229,650 tons. cF Revised to represent quotations per net ton. SURVEY OF CURRENT BUSINESS Mav 1952 Unless otherwise stated, statistics through 1950 and descriptive notes are shown in the 1951 Statistical Supplement to the Survey S-33 1952 1951 March April May June July August Septem- October November December January February March METALS AND MANUFACTURES—Continued IRON AND STEEL—Continued Steel, Manufactured Products—Continued Cans, metal, shipments (in terms of steel consumed), total. short tons.. Food -_ do _ _ Nonfood . do_._ Shipments for sale do Commercial closures, production millions. . Crowns production thousand gross Steel products, net shipments: Total thous of short tons Bars, hot rolled— Carbon and alloy do Reinforcing do Semimanufactures do _ Pipe and tubes do Plates do _._ Rails _ do Sheets _ _ do Strip— Cold rolled do Hot rolled _ do Structural shapes, heavy. do Tin plate and terneplate 'do Wire and wire products _ _ do 268, 022 164, 956 103, 066 224, 124 1,536 34, 006 276, 145 169, 462 106, 683 234, 605 1,485 31, 453 308, 227 206, 185 102, 042 259, 347 1,404 30, 282 309, 213 218, 700 90, 513 266, 927 1,313 28, 461 356, 274 263, 683 92, 591 318, 308 1,068 26, 861 483, 188 367, 257 115,931 428, 044 1,118 33, 638 417, 378 306, 610 110, 768 371, 686 927 24,692 374, 200 254, 635 119, 565 333,018 1,026 24, 625 263, 468 156, 035 107, 433 229,422 820 19, 900 235, 107 140, 325 94, 782 203, 902 774 16,903 234,372 143, 997 90, 375 195, 980 976 22, 717 235, 648 144, 439 91, 209 199, 445 895 24, 316 7,105 792 161 306 824 681 160 1,937 189 238 452 397 624 6,635 736 141 272 757 653 162 1,821 184 217 412 361 495 6,939 787 162 293 801 716 166 1,847 187 204 430 396 513 6,646 734 152 292 770 685 161 1,739 180 173 409 425 493 5,989 689 151 303 681 653 146 1,617 128 146 397 347 345 6,756 744 184 322 785 691 165 1,719 191 185 407 430 492 6,207 712 160 314 719 657 139 1,548 162 185 386 358 456 6,844 785 170 315 809 684 165 1,716 184 199 442 394 605 6,509 778 155 283 784 666 136 1,693 165 184 421 327 479 6,411 748 162 313 777 708 146 1,590 154 180 409 352 441 6,589 797 168 285 811 707 156 1,644 180 186 427 298 477 6,358 757 158 268 795 711 138 1,534 158 171 437 359 448 70, 022 222, 030 67, 701 223, 503 67,720 180, 141 67, 454 272, 903 72, 698 284, 318 73, 816 251, 283 69, 429 211,953 72, 647 275, 407 72, 246 229, 563 72, 454 213, 877 76, 934 325, 071 ' 72, 374 212, 481 77,069 NONFERROUS METALS AND PRODUCTS Aluminum: Production, primary short tons Imports, bauxite .long tons. _ Price, wholesale, scrap castings (N. Y.) dol. per lb__ Aluminum fabricated products, shipments, total c? mil. of Ibs Castings do _ Wrought products, totald* do Plate, sheet, and strip do Brass sheets, wholesale price, mill dol. per lb__ Copper: Production: Mine production, recoverable copper short tons__ Crude (mine or smelter, including custom intake). -_. short tons .. Refined _ do Deliveries, refined, domestic do Stocks, refined, end of month do Exports, refined and manufactured do Imports, total _ . do Unrefined, including scrap do Refined do . Price, wholesale, electrolytic (N. Y.)__dol. per lb_. Lead: Ore (lead content) : Mine production short tons Receipts by smelters, domestic ore do Refined (primary refineries) : Production do Shipments (domestic) _ do Stocks, end of month . do Price, wholesale, pig, desilverized (N. Y.) dol. per lb__ Imports, total, except mfrs. (lead content) short tons__ Tin: Production, pig long tons Consumption, pig do Stocks, pig, end of month, total§ do Government§ _ do Industrial do Imports: Ore (tin content) do Bars, blocks, pigs, etc _ do __ Price, wholesale, Straits (N. Y.) dol. perlb_. Zinc: Mine production of recoverable zinc short tons__ Slab zinc: Production . . . . do Shipments, total do Domestic do Stocks, end of month do Price, wholesale, prime Western (St. Louis) dol. per lb._ Imports, total (zinc content) short tons For smelting, refining, and export do_._ For domestic consumption: Ore (zinc content) do Blocks, pigs, etc do .1600 .1723 .1725 .1725 .0775 .0775 .0775 .0775 .0775 .0775 .0775 .0775 .0775 '216.5 •• 52.2 ••164.3 101.0 .378 «• 192. 1 40.2 "•151.9 94.7 .378 185.5 40.5 145.0 91.8 .377 182.3 36.0 146.4 88.6 .373 159.8 27.4 132.4 82.7 .373 187.6 35.5 152. 0 91.5 .375 161.7 32.5 129.2 77.5 .383 179.4 35.2 144.1 82.5 .383 171.5 32.4 139.2 78.8 .383 175. 2 40.9 134.3 75.5 .383 195.6 46.4 149. 1 81.3 191.2 44.8 146. 3 78.7 47.2 153.6 82.9 83, 171 82, 459 83, 779 75, 847 75, 407 67, 939 68, 989 81,014 77,294 79, 167 77, 691 72,849 91. 243 112, 933 116, 793 55, 609 14, 457 36, 062 20, 952 15, 110 .2420 90, 794 103, 494 114, 744 52, 800 17, 652 43, 812 24, 047 19, 765 .2420 96, 541 113,513 118,113 60, 896 14, 041 46, 771 24,892 21, 879 .2420 87, 103 105, 127 114, 103 60, 912 13, 162 48, 624 30, 602 18, 020 .2420 82, 577 93, 258 101, 095 68, 045 13, 535 46, 606 32, 391 14, 215 .2420 73, 324 79, 613 104, 938 70, 937 6,714 58, 969 35, 935 23, 034 .2420 74, 165 74, 354 121, 879 62,093 4,971 46, 566 27,551 19, 015 .2420 87, 896 104, 148 125, 286 78, 192 9,864 41, 780 18, 150 23,630 .2420 82, 617 103, 614 123, 646 68, 160 16, 488 39, 694 13,131 26, 563 .2420 86, 680 98, 532 119, 577 71, 528 16, 599 36, 023 19, 231 16, 792 .2420 83, 192 100, 269 130, 430 60, 836 1 10, 598 49, 583 16, 677 32, 906 .2420 ••80, 876 95, 979 104, 795 59,747 12, 842 41, 049 27, 469 13, 580 .2420 86, 841 94,563 112, 625 58, 487 36, 655 36, 040 33, 122 34, 618 33, 706 33, 198 32, 312 32, 244 30, 194 29, 920 29, 686 29, 280 27, 620 27, 755 33, 110 31, 806 32, 326 28,775 33, 499 27, 273 34, 864 28, 501 r 34, 337 40, 148 33, 573 41, 251 50, 701 50, 927 27, 259 44, 362 42,033 29, 437 44, 951 40, 963 33, 420 39, 952 40, 041 33, 308 44, 864 44, 404 33, 504 31, 756 40, 252 24, 997 30, 474 31, 654 23, 640 34, 273 31, 164 26, 742 36,234 37, 084 25, 871 36, 754 37, 274 25, 339 43, 746 40, 390 28, 578 44, 133 41,291 31, 297 48, 943 39, 161 41, 040 .1900 .2420 .1700 .1700 .1700 .1700 .1700 . 1700 .1700 .1900 .1900 .1900 .1900 .1900 14,916 21, 628 11, 201 18, 397 11,728 26, 950 13, 658 20, 707 20,009 25, 762 15, 397 42,460 3,491 5,152 38, 159 18, 151 19, 676 3,395 4,984 36, 232 17, 753 18, 244 3,420 5,295 35, 446 19,906 15, 435 2,994 5, 093 32, 091 18, 105 13,917 2,701 4,719 31,855 18, 944 12, 749 2,797 5,175 28, 393 16, 091 12, 236 2,414 4,947 27, 614 15, 789 11, 790 2,353 5,014 24, 242 12, 629 11, 508 2,055 4,595 22, 504 10, 454 11, 909 1,972 4,397 19, 646 8, 556 11,018 1,984 4,879 15, 094 4,868 10, 125 1,990 4,524 13, 490 3,810 9,567 2,753 4,225 1. 4546 2,204 2,274 1.4583 1,349 1,213 1. 3996 2,924 1,868 1. 1805 2,663 2,321 1. 0600 2,430 1,172 1. 0300 591 1, 865 1. 0300 4,545 1,969 1. 0300 654 1,188 1.0300 1,819 1,591 1. 0300 144 1,005 1.0973 1,472 598 1. 2150 1.2150 60, 564 56, 257 58, 779 56, 546 53, 126 54, 364 50,118 60, 546 57, 195 57, 269 60, 233 ' 59, 098 60,765 80, 450 80, 462 70, 845 11, 105 77, 862 74, 419 69, 125 14, 548 80, 430 77, 567 73, 093 17, 411 77, 679 79, 299 74, 149 15, 791 78, 955 83, 346 76, 461 11, 400 74, 035 74, 191 65, 696 11, 244 70,623 64, 632 58, 436 17, 235 79, 432 73, 583 68, 365 23, 084 79, 376 77, 419 70, 084 25, 041 81, 769 84, 909 73, 694 21, 901 83, 205 78, 403 75, 039 26, 703 77, 296 77, 448 70, 928 26, 551 85, 208 85, 575 80, 121 26, 004 .1750 26, 375 3,720 .1750 23, 938 2,263 .1750 30, 140 2,269 .1750 42, 728 2,878 .1750 34, 413 3,057 .1750 32, 908 4,098 .1750 19,858 2,246 .1950 17, 556 2,309 .1950 21,537 5,411 .1950 24, 061 6,473 .1950 18, 739 2,306 .1950 49, 225 4,996 .1950 15, 292 7,363 10, 925 10, 750 13, 614 14, 257 31, 617 8,233 23,773 7,583 23,606 5,204 12, 406 6,206 7,233 8,014 9,134 6,992 9,863 7,725 11, 769 4,664 38, 980 5,249 19, 456 57, 400 12, 898 67,150 10, 443 80, 306 12, 770 86, 777 11, 461 87, 101 18, 748 87, 007 22,129 82, 630 31, 080 71, 374 19, 335 68,584 11, 168 69, 677 11,318 73,039 10, 211 77, 267 HEATING APPARATUS, EXCEPT ELECTRIC Boilers, radiators and convectors, cast iron: Boilers (round and square) : Shipments thous. of Ib Stocks, end of month do Radiation: Shipments thous. of sq. ft_. Stocks, end of month do 3,564 4,056 2,284 4,658 3,550 2,413 2,784 2,226 2,470 2,220 4,798 3,512 4,842 8,702 8,690 9,420 9,024 3,717 6,805 7,860 7,572 8,382 7,784 8,699 Revised. * Data beginning 1952 are in accor iance with the revise d export s(}hedule an d include c ertain prirnary forms of copper manufacti ires formei*ly exclude d; the val ue of such exports amounted to about $1.5 million in January-S eptember 1951. cfSee note in June 1951 SURVEY regarding additional repor ing corn pa nies begimling Febru ary 1951. §Government stocks represent those available for industrial use; total stocks include small amount not distributed. r SUEVEY OF CURRENT BUSINESS S-34 Unless otherwise stated, statistics through 1950 and descriptive notes are shown in the 1951 Statistical Supplement to the Survey May 1952 1952 1951 April March May June July August September October November December January February March METALS AND MANUFACTURES—Continued HEATING APPARATUS— Continued Boilers, range, shipments number Oil burners: Orders unfilled, end of month do_ Shipments _ _ __do Stocks end of month do Stoves and ranges, domestic cooking, excl. electric: Shipments total number Coal and wood do Gas (incl bungalow and combination) do Kerosene, gasoline, and fuel oil do_ Stoves, domestic heating, shipments, total do Coal and wood do Gas do Kerosene gasoline and fuel oil do Warm-air furnaces (forced-air and gravity-air flow), shipments, total _ __ _ _ _ number Gas do Oil do Solid fuel do Water heaters, nonelectric, shipments do 42, 122 47, 407 47, 218 43, 174 28, 467 31, 113 29, 819 30, 543 32, 370 26, 485 31, 193 28, 245 56, 894 55, 421 69, 485 53, 729 46, 877 75, 071 52, 592 41, 984 88, 512 48, 487 47, 219 91, 674 53, 854 44, 503 94, 365 48, 433 63, 578 89, 038 48, 633 75, 421 83,815 44, 987 92, 698 71, 476 35, 843 63, 705 71,886 38, 033 39, 830 76, 102 40, 256 45, 748 77, 518 36, 789 37, 792 80, 775 318, 455 12, 714 290, 989 14, 752 243, 574 8,447 225, 879 9,248 195, 121 7,911 178, 490 8,720 147, 757 9,201 129, 107 9,449 131, 695 6,313 116,952 8,430 187, 677 10, 028 169, 224 8,425 206, 276 11, 741 184, 815 9,720 236, 588 11, 330 212, 168 13, 090 216, 048 11, 549 193, 123 11, 376 168, 114 9,470 150,777 7,867 184, 275 9,501 166, 669 8,105 187, 505 9,589 166, 687 11, 229 311, 433 62, 291 159, 485 89, 657 285, 184 55, 400 164, 258 65, 526 286, 878 66, 439 131, 847 88, 592 286, 533 69, 997 141, 063 75, 473 350, 491 77, 824 158, 146 114, 521 451, 971 130, 600 168, 005 153, 366 454, 222 136, 644 177, 108 140, 470 575, 615 179, 021 241, 322 155, 272 452, 579 124, 696 200, 348 127, 535 181,159 46, 528 78, 747 55, 884 145, 268 22 761 63, 696 58 811 144, 462 19,318 60, 843 64, 301 79, 239 41, 180 24, 584 13, 475 265, 122 60, 337 30, 033 19, 616 10, 688 235, 355 56, 282 26, 897 19, 227 10, 158 200, 599 61,910 28, 232 22, 114 11, 564 163, 220 55, 045 23, 500 21, 783 9,762 127, 046 77, 192 29, 780 30, 630 16,782 153,809 87, 412 33, 329 37, 290 16, 793 160, 433 105. 689 40, 780 44, 326 20, 583 181, 623 83, 667 36, 953 34 766 11 948 173, 056 55, 281 26, 771 22, 565 5, 945 146, 263 ' 50, 002 r 24, 306 r 20, 498 5,198 171, 337 48, 529 24, 017 19, 309 5,203 167, 335 MACHINERY AND APPARATUS Blowers, fans, and unit heaters, quarterly: Blowers and fans, new orders thous. of dol_. TJnit heater group new orders do Foundry equipment (new), new orders, net 1937-39=100 Furnaces, industrial, new orders: Electric thous. of dol Fuel-fired (except for hot rolling steel) do Machine tools: New orders __ _ .1945-47= 100 _ Shipments do Mechanical stokers, sales: Classes 1, 2, and 3 number Classes 4 and 5: Number Horsepower _ Pumps, steam, power, centrifugal and rotary, new orders _ _ _ _ _ _ thous. o f dol__ 37, 314 14, 583 37, 055 17, 112 29,900 16, 342 31,637 13, 570 599.0 490.1 431.7 393.2 390.3 404.5 346.5 372.4 305.5 230.5 404.5 200.4 310.0 4,846 7,019 3,657 8,497 4,766 5,044 3,370 6,279 5,587 5,284 3,891 4,850 3,250 1,821 3,172 6,374 2,882 2,519 2,100 2,873 2,856 3,379 1,363 2,418 2,100 1,809 590.3 158.9 516.1 157.7 483.0 175.1 558.8 182.8 490.6 144.7 488.9 178.9 380.2 189.8 403.9 221.3 330. 5 226.0 376.5 264.7 347.8 266 6 »• 318. 8 279. 6 v 327. 1 v 293. 9 1,601 1,176 974 1,327 1,391 2,825 3,001 3,189 1,998 1,095 1 327 1,145 966 178 177 184 234 191 238 239 289 152 115 161 115 131 r 65, 561 72, 575 56, 624 78, 390 52, 155 61, 785 60, 984 60, 610 35, 707 21,284 43 931 57, 455 39, 165 7,654 7,583 6,371 6,852 8,358 5,911 6,552 6,506 5,908 5,553 5,517 6,020 5,925 1,614 2,118 2,055 2,498 2,112 1,696 113 87 115 ELECTRICAL EQUIPMENT Batteries (automotive replacement only), ship1,113 1,790 1,400 1,366 ments thousands Domestic electrical appliances, sales billed: 330 154 242 183 Refrigerators index 1936—100 227, 216 201, 983 194, 548 Vacuum cleaners, standard type number. _ 290, 242 376, 458 298, 797 261,648 262, 734 Washers O do Radio sets, production* „_ _ . do_ _ 1. 821. 254 1, 399, 962 1, 417, 828 1,120,417 Television sets (incl. combination), production* 352, 500 500, 000 405, 000 number. _ 870, 000 Insulating materials and related products: 614 626 610 662 Insulating materials, sales billed, index 1936=100 Fiber products: Laminated fiber products, shipments§ 8,626 9,279 8,911 8,583 thous. of dol. Vulcanized fiber: 4,185 4,251 5,233 5,383 Consumption of fiber paper thous. of lb_. Shipments of vulcanized products 2,155 2,287 2,351 thous. of doL. 2,237 Steel conduit (rigid) and fittings, shipments 9 28, 590 27, 464 27, 749 27, 891 short tons. Motors and generators, quarterly: 696 780 New orders, index 1936=100 Polyphase induction motors, 1-200 hp:d" 64, 221 New orders. _ _ thous. of dol 56, 573 40, 357 Billings do 48, 166 Direct current motors and generators, 1-200 hp.rcf 1 10, 666 12, 779 New orders _. thous. of dol_ 6,082 Billings do 7,690 r r r 911 725 230, 226 218 956 632, 455 235, 936 261, 512 759, 453 290, 092 254, 135 975, 892 467, 108 404, 933 409, 337 510, 561 466 548 ••97 161, 002 143, 436 491,413 114 191, 299 210, 086 242, 975 319, 475 620, 956 1, 147, 837 259, 469 304, 131 921,012 219, 119 268, 645 823, 943 230, 263 224, 471 977, 977 148, 926 146, 705 337, 341 411, 867 415,332 494 539 521 559 511 97 r 1 551 233 7,136 7,230 7,389 8,032 7,513 6,833 8,115 7,830 7,796 4,701 5,461 4,802 5,462 4,711 4,170 4,836 4,484 4,216 1,847 2,129 1,711 1,804 1,523 1,232 1,646 1,618 1,565 23, 890 25, 017 25, 941 26, 680 26, 409 23, 871 25, 982 25, 530 600 573 44, 878 42, 438 44 189 40 722 9,160 5,832 10 713 6,619 PETROLEUM, COAL, AND PRODUCTS COAL Anthracite: Production thous. of short tons__ Stocks in producers' storage yards, end of month thous. of short tons__ Exports do Prices, chestnut: Retail, composite dol. per short ton__ Wholesale, f. o. b., car at minet do Bituminous: Production _. thous. of short tons__ Industrial consumption and retail deliveries, total thous. of short tons__ Industrial consumption, total do Beehive coke ovens do Byproduct coke ovens do Cement mills do Electric-power utilities do Railways (class I) do Steel and rolling mills do Other industrial do Retail deliveries do___I 2,183 2,602 3,622 3,743 2,770 3,514 3,178 4,548 4,016 3,612 3,974 740 197 732 227 747 414 792 475 877 526 1,005 605 1,145 706 1,161 892 1,055 637 982 939 534 1,005 391 23.48 14. 450 23.35 13. 905 22.50 13. 775 22.82 13. 989 22.96 14.156 23.22 14. 319 23.32 14. 513 23.55 14. 513. 23.66 14. 513 23.67 14. 513 23.67 14.513 23.67 14. 513 44,839 41, 972 43,362 43,536 34,103 47,184 42,954 51,797 49,340 44,123 49,900 42, 785 36,162 983 8,584 702 8,714 5,398 767 10,014 7,623 36, 955 31,912 905 8,413 685 7,583 4,798 671 8,857 5,043 34, 592 31, 286 974 33,869 30,150 982 8,465 685 7,728 3,985 568 7, 737 3,719 33,214 29, 602 836 8,706 699 7,743 3,814 534 7,270 3,612 36, 656 31, 521 990 8,742 701 8,625 4,064 579 7,820 5,135 35, 754 30,190 850 8,454 40,002 33, 244 971 8,691 728 9,236 4,252 625 8,741 6, 758 41,435 34, 027 933 8,367 781 9,382 4,344 705 9, 515 7,408 42,803 34, 660 971 8,670 758 9,267 4,463 758 9,773 8,143 44, 284 34, 895 998 8,758 740 9,540 4,301 775 9,783 7, 664 4,367 609 8.269 3,306 3,902 544 7,464 5, 564 2,952 1,024 43, 770 41,100 39, 587 '31,757 927 8,171 673 8,434 3,877 743 8,932 7,830 39, 216 32,146 875 8,807 665 8,510 3,698 677 8,914 7,070 r ' Revised. v Preliminary. *New series. See note marked "*" on p. S-35. ©Figures through 1951 are estimated industry totals; thereafter, data cover reporting companies only (representing about 97 percent of total industry). § Data for January-August 1951 and beginning January 1952, cover 14 companies; September-December 1951 , 15 companies. 9 Beginning January 1952, data include sales of an additional firm; earlier data will be revised later. cfThe number of companies reporting is as follows: Polyphase induction, 1st half of 1951, 32; 2d half of 1951, 33; direct current, beginning 1951, 28. t Revised series. Data formerly shown were quotations on tracks, destination. Revised figures beginning 1947 will be shown later. SUKVEY OF CUKEENT BUSINESS May 1952 S-35 1952 1951 Unless otherwise stated, statistics through 1950 and descriptive notes are shown in the 1951 Statistical Supplement to the Survey March April May July June August Septem- ber October Novem- ber Decem- ber January Febru- ary March PETROLEUM, COAL, AND PRODUCTS—Continued COA L— Con tinued Bituminous— Continued Consumption on vessels (bunker fuel) thous. of short tons__ Stocks, industrial and retail dealers', end of month, total _ thous. of short tons__ Industrial total do Byproduct coke ovens do Cement mills do Electric-power utilities do Railways (class I) _ __do_ __ Steel and rolling mills do Other industrial do Retail dealers do Exports >_do_ __ Prices: Retail, composite dol. per short ton Wholesale: Mine run, f. o. b. car at minet do Prepared sizes, f o. b. car at minef do COKE Production: Beehive § thous. of short tonsByproduct do Petroleum coke _ _ do Stocks, end of month: Byproduct plants, total do At furnace plants do At merchant plants. do Petroleum coke do Export*5 do Price, beehive, Comellsville (furnace) dol. per short ton__ 41 90 110 98 93 96 86 104 91 35 19 19 71, 425 69, 813 16, 751 1,243 26, 529 4,854 1,091 19, 345 1,612 72, 081 70, 550 16, 462 1,232 27, 571 4,739 1,143 19, 403 1,531 74, 807 73, 109 16, 175 1,266 29, 826 4,567 1,232 20, 043 1,698 76, 992 75, 258 16, 247 1,333 31, 060 4,999 1,195 20, 424 1,734 74, 100 72 248 14, 035 1 316 31, 635 4,426 1,168 19, 668 1,852 75, 414 73 492 14, 449 1 339 32, 392 4,331 1 156 19, 825 1,922 76, 245 74 352 14, 426 1 353 33, 098 4,245 1 147 20 083 1,893 78, 019 76 080 14, 953 1 420 34, 162 4,126 1 155 20 264 1,939 77, 858 75 948 15, 123 1 508 34, 104 4,163 1,151 19, 899 1,910 76,636 74 886 15, 270 1 424 33, 398 4,172 1 181 19, 441 1,750 75, 423 73, 792 14, 827 1,361 32, 692 4,161 1,213 19, 538 1,631 76, 474 74 967 15, 786 1,342 32, 710 4,237 1,276 19, 616 1,507 3,207 4,740 5,485 5,231 4,824 6,178 6,104 6,387 5,420 4,478 5,163 3,982 16.97 16.96 16.68 16.65 16.74 16 76 16.84 17.01 17.03 17.08 17.12 17.13 5.711 6.942 5.729 6.588 5.677 6.583 5.769 6.610 5.658 6.533 5.646 6 581 5.680 6.679 5.697 6 718 5.697 6 756 5.697 6 773 5.697 6.773 5.697 6.769 641 6,042 297 561 5,911 286 608 6,122 335 625 5,943 315 526 6,104 326 616 6,152 319 547 5,923 316 629 6 114 328 619 5,882 335 625 6,114 325 637 6,168 331 r 589 5,770 310 1,266 1,134 132 118 50 1, 410 1,219 191 125 59 1,445 1,211 233 123 62 1,395 1,135 260 112 90 1,518 1,175 343 99 94 1,626 1,204 422 97 122 1,764 1,298 466 94 100 1,815 1,306 509 82 126 1,758 1,264 495 83 111 1,738 1, 295 443 104 109 1,810 1,421 389 134 112 1,765 1, 455 310 142 86 1,832 1 530 302 14. 750 14. 750 14. 750 14. 750 14. 750 14. 750 14. 750 14. 750 14. 750 14. 750 14. 750 14, 750 14. 750 1,895 187, 624 96 200, 535 1,769 183, 800 91 185, 488 2,074 191, 268 94 199, 521 1,975 183, 898 97 197, 246 1,896 190, 362 95 200, 322 2,307 193 201 96 202, 721 1,975 187,816 97 196, 752 2,014 197 6io 95 199 826 2,040 188 149 97 198, 258 1,947 191 650 98 206, 032 2,151 192, 712 94 205, 829 1,929 184, 654 95 193, 524 233, 824 58, 671 157, 710 17, 443 243, 180 63, 366 162, 444 17, 370 248, 418 65, 365 165,500 17,553 248, 170 65, 536 164, 934 17, 700 250, 847 67, 046 166, 077 17, 724 254 276 65, 501 171 074 17, 701 254, 900 64,916 171,730 18, 254 262 266 65, 388 179 173 17, 705 261, 100 65, 297 177, 982 17, 821 255, 783 62,311 175, 481 17, 991 254, 007 62, 436 173, 471 18, 100 255, 900 64, 614 173, 315 17, 971 2,640 14, 144 2.570 3, 615 15, 081 2.570 1,791 16,019 2.570 2,342 16, 487 2.570 2,320 17, 612 2.570 2 361 15 232 2 570 2 199 14, 458 2.570 1 947 14 473 2 570 1 858 13, 050 2 570 2,147 11, 953 2.570 2,303 15, 909 2.570 2,211 14, 083 2.570 41, 129 41, 771 35, 139 36, 908 37, 500 39, 202 37, 614 38, 303 38, 067 39, 516 38, 335 37 993 38, 453 36, 843 40, 159 37 944 40, 726 39, 111 44, 693 40, 693 45, 141 41, 483 44, 314 38, 352 45, 046 53, 568 32, 185 46, 841 25, 519 44, 104 24, 132 42, 153 24, 277 39, 400 27, 185 40, 454 27, 271 39, 547 31, 655 45,016 47, 221 50, 982 57, 233 54, 382 r 63, 185 ' 56, 246 54, 489 49, 796 5,527 4,251 5,846 4,811 3,889 6, 753 4,508 3,658 6,663 4,544 3,415 6,177 4,375 3, 338 5,790 5 038 3,517 6 750 5 072 3,218 6,250 5 440 3,486 6 491 5,949 3, 313 6,331 6,295 3,244 15, 484 6,068 3,032 6,906 4,775 2,767 6,447 42, 978 37, 516 44, 736 36, 910 55, 273 39, 317 67, 839 41, 566 79, 437 45, 163 87 432 47, 243 96, 241 48, 212 102, 561 48, 415 94, 917 45, 378 80, 785 42, 063 i 66, 969 i 39, 523 55, 369 38, 295 773 1,077 1,361 982 1,884 2,679 1,149 2,471 2,280 3,119 3,203 3,005 2,554 2,962 2,410 2,553 1,185 1,962 1,854 2,006 1,894 1,831 1,654 1,847 .091 1.750 .091 1.750 .091 1.750 .091 1. 750 .091 1.750 .091 1 750 .091 1.750 .091 1.690 .091 1.650 .091 1,650 .091 1.650 .091 1.500 12 371 11,788 13, 657 40 11,511 8,678 16, 262 185 10 698 5,877 20, 331 667 9, 815 5,494 24, 169 388 10 220 6,490 27, 277 592 10 506 6 455 30 241 1,000 10 915 6,640 33, 106 1,326 11 262 10, 171 33 382 703 12 083 14, 960 29 948 538 12 171 16, 744 24, 933 387 13, 040 '1 16, 633 22, 679 752 10 742 14, 608 18 530 217 77 293 76 042 16 727 1 276 32, 724 4 299 1 322 19 694 1,251 559 6 204 PETROLEUM AND PRODUCTS Crude petroleum: Wells completed _ __ _ number. Production thous of bbl Refinerv operations _ percent of capacity Consumption (runs to stills) thous of bbl Stocks, end of month:cT Gasoline-bearing in U. S., total do At refineries _ _ _ _ __do _ At tank farms and in pipelines do O n leases _ _ _ _ _ _ _ _ _ do_ Exports do Imports _ . do_ _ Price (Oklahoma- Kansas) at wells dol. per bbl Refined petroleum products: Fuel oil: Production: Distillate fuel oil thous. of bbl_. Residual fuel o i l _ _ _ _ _ _ _ _ do Domestic demand: Distillate fuel oil _ _-do Residual fuel oil do__ Consumption by type of consumer: Eloctric-power plants do Railways (class I) _ __do_ Vessels (bunker oil) do Stocks, end of month: Distillate fuel oil _ _ _ do Residual fuel oil do. _ Exports: Distillate fuel oil do. __ Residual fuel oil _ _ do Prices, wholesale: Distillate (New York Harbor, No. 2 fuel) dol. per gal Residual (Okla , No. 6 fuel) dol. per bbl Kerosene: Production thous of bbl Domestic demand do Stocks end of month do Exports do Price, wholesale, bulk lots (New York Harbor) dol per gal Lubricants: Production thous. of bbl Domestic demand do Stocks refinery end of month do Exports© do Price, wholesale, bright stock (midcontinent, f. n. b. Tulsa) _ _ dol. ner PR! .101 .101 .101 .101 .101 101 .101 .101 .101 .101 .101 .101 5,108 3,691 8,209 1,533 5,175 3,550 8,393 1,377 5,454 3,850 8,451 1,477 5,094 3,632 8,444 1,387 5,241 3,348 8 662 1,593 5,379 3,592 8 875 1,499 4, 905 3,313 8 866 1,527 5,432 4,090 8,914 1,236 5,144 3,421 9 111 1,441 5,157 3,163 9 617 1,429 4,963 * 3, 381 r 9, 856 1,292 4,456 2,827 * 10, 049 1,357 .290 .290 .290 .290 .290 .290 .290 .290 .290 .290 .290 .290 5 222 r Revised. * New basis. Comparable data for December 1951 (thous. bbl.): Distillate fuel, 85,872; residual fuel, 42,955; kerosene, 26,940. fRevised series. Data formerly shown were quotations on tracks, destination.. Figures for 1947-50 will be published later. .Revisions for 1950 will be shown later. cf Includes stocks of heavy crude in California. ©Excludes "special category" exports not shown separately for security reasons. NOTE FOR RADIO, TELEVISION SERIES, P. S-34. *New series. Compiled by the Radio-Television Manufacturers Association. Data represent industry totals based on reports from both members and nonmembers of the association. Both private and company brands are included. Radio production comprises home, portable battery, automobile, and (beginning 1951) clock models; television sets include combination models. Monthly figures beginning 1947 will be shown later. Data for March, June, September, and December 1951 and March 1952 cover 5 weeks; other months, 4 weeks. January-February 1951 production: Radio sets—1,2(35,634; 1,396,284; television sets—650,700; 679.319. SURVEY OF CURRENT BUSINESS S-36 May 1952 1951 Unless otherwise stated, statistics through 1950 and descriptive notes are shown in the 1951 Statistical Supplement to the Survey March April May Juno July 1952 August j Severn- October November December February January 95 859 100 039 98 551 93 134 84, 976 18, 191 88, 800 18, 941 87, 446 19,058 82, 052 18,070 7 308 8^917 88, 702 7 702 8, 838 84, 394 7 953 8, 459 ' 86, 863 6 988 8,113 82, 043 105, 117 58. 160 6,911 8.379 4 098 117, 235 70, 051 7.747 8, 186 3 449 136, 161 81,054 8.178 7,896 2 5,"8 143, 910 87. 458 8. 002 8, 585 2,144 .103 .129 .200 .103 .129 .199 6,409 5 480 r 8, 399 4 483 6.137 4,875 8, 503 4.421 March PETROLEUM, COAL, AND PRODUCTS—Continued PETROLEUM AND PRODUCTS—Continued Refined petroleum products — Continued Motor fuel: All types: 93, 378 87, 319 96, 154 98 643 96, 811 98, 799 production, total thous of bbl 96, 115 98 510 Gasoline and naphtha from crude petro85, 691 82, 140 76, 826 85, 417 leum _ tbous. of bbl__ 87, 851 87, 875 86, 942 85, 004 16, 708 17,780 16, 646 15,932 16, 367 16,977 Natural gasoline and allied products . - do 17,069 18, 167 Sales of 1. p. g. for fuel, etc., and transfers 5, 526 5, 195 6, 215 5,575 0, 542 6, 053 6 599 of cycle products thous. of bbl 5 958 7,997 8,274 7, 586 7.803 7,982 8,658 Used at refineries _ do 8,804 9,318 86, 846 87, 430 100, 476 100, 188 96, 093 101,206 99, 945 Domestic demand _ ._ do 91,803 Stocks, gasoline, end of month: 133, 465 130, 501 119, 769 113, 734 106, 704 123, 830 Finished gasoline, total do 106, 547 101,837 85, 096 79, 357 61,120 73, 652 70, 363 67, 250 At refineries _ do 68, 364 56, 984 7,991 8, 687 8,431 7,826 7,748 7,742 7,600 6,963 Unfinished gasoline _ _ _ do_ _ 8,109 10,065 8,522 9,079 9, 883 10, 043 9, 578 9,003 Natural gasoline and allied products.. do 2,239 1,945 3,438 1,846 2,520 4,103 Exports cT do 4,027 3,293 Prices, gasoline: Wholesale, refinery (Oklahoma) group 3 .104 .104 .104 .104 .104 .104 .104 dol. per gal__ .104 .129 .129 .129 .129 .129 .129 .129 Wholesale, regular grade (N. Y.)* do .129 .205 .200 .201 .202 .203 .202 .201 Retail, service stations, 50 cities do_ . .203 Aviation gasoline :£ 6,113 5, 523 6, 265 5, 765 5,931 6,390 Production, total thous. of bbl_ 6,487 5,950 4,464 4,426 5,017 4,900 4, 663 5,159 4,792 4,853 100-octane and above do 8, 566 8, 005 8, 595 8,305 7,564 8,590 7,915 Stocks, total. _ _-do 7,726 4,048 4,053 4,006 3. 844 3,925 3,817 4, 369 3, 895 100-octane and above do Asphalt: 915, 600 1,123,600 1,205,600 1 , 286, 700 1 , 363, 600 1 , 247, 100 1, 225, 300 806, 500 Production short tons Slocks, refinery, end of month __do_ _ 1,468,000 1, 572, 500 1. 546, 900 1,459,300 1 , 296, 500 1,064,200 814,400 947, 800 Wax: 122,640 122, 360 131 . 320 113,680 110 320 1 1 5, 920 Production thous. of Ib 104 440 100 520 152, 600 140, 840 162, 400 168,280 ] 79, 200 188,440 Stocks, refinery, end of month do 197,680 193 200 Asphalt products, shipments: \ r ' 4, 840 ' 5, 865 ' 5, 403 5, 006 ' 4, 739 '4,839 ' 5, 497 Asphalt roofing, total thous. of squares.. ' 6, 552 Roll roofing and cap sheet: '980 ' 1, 289 '1,062 ' 1, 065 ' 1 , 008 'r 1.333 ' 1, 196 Smooth-surfaced _ _ _ _ __do ' 1, 492 r ' 1,049 ' 1, 086 ' 1,056 r 1, 231 1,145 1,385 ' 1,357 ' 1 618 Mineral-surfaced do * 2, 883 ' 2, 729 ' 2, 855 ' 2, 704 r 2, 087 '3.147 ' 2, 944 r 3, 443 Shingles, all types _ do _ '199 '178 '144 '150 ^ 135 '128 ' 186 Asphalt sidings _„ do '268 64, 999 71, 673 ' 50. 951 ' 41,979 49, 770 67, 044 '47,166 ' 59, 202 Saturated felts short tons. .104 .129 .203 6.390 5, 266 7.726 3. 853 .103 .129 . 203 6, 555 5, 435 8,277 4 356 201 719 300 884, 700 671 300 605 600 975, 600 1.203,600 1,331,500 1, 527, 300 101 080 196, 280 92 400 202. 440 98 280 194 040 100 240 190,400 ' 2, 485 3,516 3,549 3,869 'r 1,029 1 082 ' 2. 029 ' 192 ' 44, 742 '634 ' 656 '1,195 '120 ' 32, 602 928 882 1, 705 163 44,641 876 861 1,811 144 46,644 913 888 2 067 135 45 957 2,699 2,339 5,445 ' 2, 561 ' 2, 227 ' 5, 775 2 482 2 332 5 915 r 4, 141 PULP, PAPER, AND PRINTING PULPWOOD AND WASTE PAPER Pulpwood: Receipts thous. of cords (128 cu. ft.)__ Consumption do _ _ Stocks, end of month do Waste paper: Receipts short tons_. Consumption _ _do__ Stocks end of month do WOOD PULP Production: Total, all grades thous. of short tons _ Bleached sulphate short tons._ Unbleached sulphate do Bleached sulphite do Unbleached sulphite _ _ do Soda . do Groundwood do Defibrated, exploded, etc do_. Stocks, own pulp at pulp mills, end of month: Total all grades short tons_ Bleached sulphate do Unbleached sulphate .. do_ Bleached sulphite do Unbleached sulphite do Soda do Groundwood do_ _ Exports, all grades, total Imports, all grades, total Bleached sulphate Unbleached sulphate Bleached sulphite. _ Unbleached sulphite Soda Groundwood _ _. do _ _ do do — . .-do do . do do do. _ 2, 339 2,257 4,419 1,968 2,224 4,179 2,214 2,339 4,050 2,383 2,258 4,180 2,309 2,104 4,388 2,720 2,293 4,819 2,288 2,124 4,980 2,503 2,366 5,118 2,172 2,305 4,987 2,213 2,102 5,072 904, 918 870, 516 450, 186 878, 247 850, 183 479, 554 882, 722 890, 776 469, 658 847, 003 824, 615 490, 788 722, 774 667, 582 547, 347 778, 627 757, 434 562, 352 676, 423 663, 649 576, 931 725, 043 724, 715 572, 481 644, 616 640, 925 586,602 548, 752 544, 983 589 340 665, 051 ' 620, 775 647, 081 657, 518 ' 632, 317 650 550 593, 508 ' 580 809 576 038 ' 1, 400 ' 182, 647 ' 549, 930 ' 203, 733 1,414 192, 303 540, 138 193, 598 68, 017 38, 122 209, 937 98,000 1,484 198,043 567, 270 204,644 65,900 40, 607 222, 535 106, 000 1,400 188, 582 538, 139 191, 077 63,253 34,908 210, 681 101,000 1,329 177, 229 522, 335 182, 262 58, 586 29, 921 197, 911 94, 500 1,438 198, 499 550, 868 206,044 61, 287 38, 777 208, 437 98, 302 1,317 171, 930 505, 980 186, 638 61, 177 36, 941 194, 055 88, 000 1,470 198, 261 570, 792 209 922 68, 807 39, 939 214 370 85, 319 1,416 197, 916 548, 166 205 199 61,363 37, 957 203 712 83, 192 1,277 167, 475 490, 399 191 814 62, 126 35 526 192 799 77, 195 1,436 199, 797 559, 914 208 833 63, 214 39, 480 207 014 83,501 ' 94, 453 100, 406 13, 112 '12,616 9,499 7,500 21, 632 ' 21, 000 13, 144 11, 799 862 1,039 39, 953 38, 261 102, 953 12, 994 10, 171 24, 583 11,158 571 40, 487 110,894 15,363 12, 911 26, 138 10, 990 1,088 40, 841 111, 130 11,830 13, 685 27, 997 12, 210 987 40, 852 105, 430 11, 920 12, 542 26, 187 11,579 803 38,601 110, Oil 14,244 12, 525 27, 160 13, 054 1,088 37, 954 106, 227 13,650 12, 871 26, 290 13,012 1 129 34, 432 102, 792 14 142 12, 413 23, 293 11 480 1 927 34,880 107 057 8 718 11, 462 29 508 12 184 1 816 37 969 19, 048 180, 732 41, 549 22, 080 46. 365 40, 383 3,007 26, 451 24,282 228, 620 50, 949 36, 668 52, 594 52, 525 2,995 31, 714 19, 489 232, 277 51, 391 39, 253 49, 634 57, 787 2 717 29, 489 10, 711 213, 392 47, 001 31, 179 50, 379 53, 221 2 625 27, 199 12,007 189, 442 45, 102 21,664 46, 465 47, 888 2 988 24, 715 12, 794 164, 897 39, 227 23, 749 42, 862 35 741 2 489 19, 450 11,046 196, 712 47,668 22, 060 51,003 44 078 2 859 27 202 27, 758 172, 963 42, 268 17 928 44, 744 42 072 2 767 21 973 23, 583 169 404 45, 108 18 961 39 849 41 971 2 430 20 106 r 66, 181 38, 611 '216,545 67, 000 11, 520 199, 584 36, 395 27, 134 52, 128 47, 625 3 025 32, 183 ' 1, 373 199, 614 523, 737 ' 201 035 59, 548 37 651 194 723 82,763 1,456 211, 906 552 033 213 340 61 776 39' 041 214 847 86 773 108 352 11 150 12, 583 26 472 11 219 1 540 39 227 113 520 12 547 14 339 27 902 10 100 1 781 38 912 124 073 13 369 16 557 28 671 13 407 1 039 41 861 14, 540 176, 358 43, 560 21 gsg 42 074 47 656 2 273 17 974 24, 261 161 847 47, 028 18 854 4l'lll 37 294 2 654 12 475 r " PAPER AND PAPER PRODUCTS All paper and paperboard mills: Paper and paperboard production, total ' 2, 373 2,319 2, 207 2,406 2,283 1, 996 thous. of short tons_. 2, 220 2, 049 2,018 1,847 2,105 ' 2, 005 2,072 1,101 ' 1, 147 974 1,106 1,148 1, 105 Paper (incl. building paper) do 1 043 1,166 1 088 1 022 1 118 1 048 1 096 1,091 '1,115 1,126 1,055 989 Paperboard . do 903 857 743 873 939 892 859 882 '112 132 127 123 113 103 Building board do 119 104 82 115 95 '97 95 ' Revised. cfExcludes "special category" exports not shown separately for security reasons. *New series. Prices are for bulk lots, f. o. b. refineries. Quotations prior to 1951 will be shown later. I Revised data for January 1951 (units as above) are as follows: Asphalt roofing, total, 5.310; smooth-surfaced, 1344; mineral-surfaced, 1264; shingles, all types, 2703; asphalt sidiims, 205. SUEVEY OF CURRENT BUSINESS May 1952 Unless otherwise stated, statistics through 1950 and descriptive notes are shown in the 1951 Statistical Supplement to the Survey S-37 1952 1951 March April May June August July September October November December January February March PULP, PAPER, AND PRINTING—Continued PAPER AND PAPER PRODUCTS— Con. Paper, excl. building paper, newsprint, and paperboard (American Paper and Pulp Association): Orders, new _ _ _ short tons__ 964, 941 886, 155 882,150 905, 445 812, 496 854, 043 984, 495 1, 013, 760 Orders, unfilled, end of month do 984, 305 1,025,263 988, 500 983 823 Production do 917, 112 885, 285 875, 512 909, 757 783, 778 894, 740 916, 683 Shipments do 877, 033 886, 429 901, 561 770 991 895 659 090 QQO Stocks, end of month do _- 293, 423 300, 270 301, 420 312, 183 311, 254 Fine paper: 110, 114 Orders, new do _ 119, 245 106, 722 113, 525 108, 242 104, 721 140, 035 Orders, unfilled, end of month do 147, 000 130, 810 137, 190 145, 100 133, 205 115,661 Production do 117 902 113 501 117 785 95 741 116 506 116, 276 Shipments do 112, 245 119, 902 117, 570 116, 652 98, 572 pri Stocks, d of month do 63, 630 64, 885 62, 470 64, 470 63 605 63 459 Printing paper: 351,015 298, 390 Orders, new do 307, 316 311, 555 268 285 290 115 Orders, unfilled, end of month __ . do 475, 400 496, 190 489, 770 482, 155 494, 705 510 150 312, 477 285,183 Production do 296, 203 306 518 304 666 254 382 310, 190 284, 352 Shipments _ _ _ _ _ _ do 304, 555 297,185 305, 690 254 294 Stocks end of month do 111,975 110, 990 112 930 113, 760 112 920 113 845 Price, wholesale, book paper, "A" grade, English finish, white, f o b mill* dol per 100 Ib 12.65 12.82 12.65 12 65 12 98 12 82 Coarse paper: Orders, new short tons. 315,065 297, 480 291, 940 295, 860 302, 539 277, 783 234, 820 228,315 Orders, unfilled, end of month do 239, 175 236, 325 233, 895 235 118 306, 009 Production do 305, 938 285, 683 302 948 303 033 277 523 305, 490 Shipments do 308, 044 287, 582 298, 287 303, 762 270 980 Stocks, end of month do_ _. 75, 198 78, 450 84, 265 78, 005 73, 295 84 993 Newsprint: Canada (incl. Newfoundland): 472, 963 464, 332 Production do 484, 563 447, 551 485, 723 452 455 Shipments from mills _ do 473, 503 475, 034 443, 288 486, 340 480, 581 442 966 142, 542 Stocks, at mills, end of month do 135, 486 146, 805 148, 957 146, 188 144 975 United States: Consumption by publishers do 394, 387 365, 324 344, 470 410, 723 403 233 333 440 Production . _ __ do 94, 331 94,283 89, 136 96, 688 101, 574 92' 481 Shipments from mills do 92, 898 97, 274 90, 988 93, 690 100, 003 90, 875 Stocks, end of month: 8,811 6,959 At mills do 7,014 10 191 9,957 8 620 349, 308 358, 294 At publishers do_ 322, 750 467, 052 332, 601 393 718 95, 893 94, 331 In transit to publishers do 95, 340 86, 522 77, 646 106 727 447, 243 396, 897 426, 291 442, 100 Imports --do 439, 586 417 120 Price, rolls, contract, delivered to principal 106. 75 ports* - - dol. per short ton 106. 75 106. 75 106. 75 111. 75 109 25 Paperboard (National Paperboard Association): 1, 119, 300 962, 700 1, 019, 300 1, 112, 100 Orders, new _ short tons_. 932, 200 933 000 704, 900 Orders, unfilled, end of month do 548, 000 646, 900 658, 700 470, 800 537, 600 Production, total _ do_ _ 1, 107, 300 1, 049, 100 1, 128, 200 1, 058, 500 890 000 1, 002, 200 104 103 94 104 105 Percent of activity 84 Paper products: Shipping containers, corrugated and solid fiber, 7,965 7,315 6,410 5,896 7,288 shipments— — mil. sq. ft. surface area.. 5, 238 Folding paper boxes, value: 879.4 613.3 699.3 608.7 737.7 588.1 New orders 1936=100__ 755. 5 815.4 851.9 778.4 704.7 599.3 Shipments do 835, 693 982, 593 851,819 837, 409 325, 907 942, 156 976 913 946 158 947 030 325 035 819, 334 914 463 896 957 881,877 340, 425 820, 265 870 769 861, 248 863 959 338, 617 r r 962, 506 «• 845, 036 914 567 r 907, 542 fT 932, 288 rr 865, 975 911 745 854 392 r 326, 610 r 349 916 859, 500 874 086 904, 000 889 000 364, 621 109, 384 132, 655 110 546 110, 422 63, 325 121 329 132, 495 123 623 121, 489 65 959 100, 090 110,610 122 649 121, 972 66 635 106 947 122, 703 118 200 119 040 65 795 r 136, 428 ' 115 955 r 141, 965 r 136, 386 126 753 r 122 133 T 125, 513 r r118 198 r 64 558 68 423 111, 500 120, 280 129 000 127, 000 69 427 278 225 492, 795 286 834 280, 135 119 619 320 495 313 317 114 264 508 465, 945 297 894 293, 829 118 980 274 447 291 292 117 r r 293 000 467, 000 303 000 299, 000 134 000 13.15 338 265 161 865 915 13 15 13 15 755 761 707 939 748 r r 343 367 r 290 075 475, 000 r 474 000 315 983 r 290 945 310 450 r 290 550 129 798 r 130 100 13 15 13 15 294, 000 182, 000 306 000 300 000 82, 500 470 456 445, 212 127 154 457 835 441 349 143 640 476 492 453,162 166 970 387 783 91 763 91, 721 345 315 97 216 95, 046 348 630 94 759 96 982 399 258 99 633 98, 696 7 430 91 403 9 738 460 378 89, 491 385 574 7 475 99 398 8 452 457, 617 87, 887 321 232 3?4 325 87 515 340 031 340 411 313, 393 229 708 321 882 316 025 93, 520 291 217 305 304 94 794 091 258 411 367 329, 159 r 192 045 320 281 r 317 727 r 66, 884 431, 082 427, 738 152 301 492 475 497 410 147 366 471 732 491, 020 128 078 435 287 461 455 101 910 381 437 90 728 92, 487 405 277 100 339 97 791 402 829 95 847 99,301 8 432 439 547 87, 037 358 866 10 434 100 458 7 526 436 244 107, 144 436 930 980 841 292 514 13 55 615 108 398 454 654 294, 386 236, 168 296 567 292, 113 88, 720 sgg 431 765 233 r 286 r 190 r 293 r 289 r 75 515 502 741 936 114 25 116 75 116 75 116 75 116 75 116 75 856, 000 458, 200 852, 500 961 900 487, 800 951 700 804, 500 365, 400 866, 300 798 300 358, 700 789 900 883,200 405, 500 835, 000 81 829, 300 355, 200 867, 800 923, 000 380, 400 880, 500 86 82 87 75 86 85 6,027 5,367 5, 074 5,550 5,569 5,935 470.8 631.1 607.6 748 9 549.4 652.8 490.3 532.2 638.3 639.9 591.0 606.0 622.6 638.1 940 743 980 781 1,172 963 1,083 872 720 557 723 575 1,371 1 081 37 407 63,501 55 214 35 037 63, 689 57 378 5,484 PRINTING Book publication, total New books New editions - number of editions. _ do _ _ do_ _ _ _ _ _ _ 1,130 861 269 878 678 200 969 759 210 1,145 879 638 466 751 549 266 197 172 202 209 199 211 163 148 290 RUBBER AND RUBBER PRODUCTS RUBBER Natural rubber: Consumption long tons Stocks, end of month . do _ Imports, including latex and guayule do Price, wholesale, smoked sheets (New York) dol. per lb_. Chemical (synthetic): Production long tons Consumption _ _ _ _ _ _ -do_ _ Stocks, end of month do Exports do Reclaimed rubber: Production do Consumption do Stocks end of month. _ _ _ do_ _ 35, 335 76, 312 63, 166 r 39, 508 71, 679 60, 912 42, 445 68, 498 42, 371 39 998 68, 369 56, 411 35 478 67, 816 73 586 36 506 67, 491 71, 121 36 887 56, 941 61, 200 .723 .675 .660 .660 .520 .520 .520 .520 .520 .520 65, 286 65, 587 60, 614 533 66, 414 58, 787 65, 793 585 70 541 65, 027 70, 276 617 74, 188 64,718 78, 154 76 250 61, 419 89, 527 74 951 67, 260 96, 382 777 70 870 68, 460 99, 889 1,008 79 285 68, 923 109, 407 550 73 045 65, 403 116,910 1,190 76 958 60, 421 129 952 1,430 35, 094 32, 678 38, 334 34, 293 32, 428 39, 064 35, 051 34, 148 39,098 33, 509 30, 999 40, 268 29, 999 25, 500 44, 347 29, 035 28, 598 43,900 26, 885 26, 226 43, 095 29, 611 27, 744 44, 367 25, 453 24, 509 44, 049 23 677 22, 044 45 082 27, 755 26, 563 45, 067 6,693 7,235 3,620 3,493 123 2,804 120 6,540 6,255 2,755 3,412 88 3,047 106 7,116 6,730 2,692 3,911 127 3,442 88 7,222 7,185 2,603 4,439 6,734 6 602 2 361 4,126 7,549 7,163 2,813 4,230 7,429 6 657 2,519 3,967 7,746 7 050 2 553 4,315 6,419 4 518 1 800 2,520 3,512 3, 586 7,350 6 081 2,392 3,501 188 6,888 161 5,828 6,593 4,595 58 5,566 5,593 4,657 63 5 625 5,585 5,071 52 573 968 r r 36, 776 81,627 83, 283 33 256 76 569 45 364 75 214 69, 430 137,785 1,831 .505 .505 78 166 69 290 150 747 r r r 35 701 66, 193 73, 807 65, 767 144, 279 2,141 .520 r 34, 642 82, 671 76, 383 T r r 23, 883 24, 518 43, 306 22, 812 24, 911 41,284 7,872 6 529 2 140 4,243 7,463 6 184 2 301 3,721 10, 039 11, 370 7,786 6 134 2 484 3 512 137 13, 043 TIRES AND TUBES Pneumatic casings: Production.. Shipments, total Original equipment Replacement equipment Export _ _ Stocks, e n d o f month Exports© Inner tubes: Production Shipments Stocks end of month Exports r thousands-do _ do __do do _ _ _ _ _ __do_ _ do do do _ do do 143 118 5 381 5, 500 5,311 63 *5 178 072 5, 685 1 5, 1 57 171 4,767 147 120 4,033 126 115 108 1 1 1 6 139 5, 761 6, 272 88 1 1 1 5 694 5 069 6, 834 101 181 5,514 129 i 6 277 i 5 615 i 7, 471 94 l Revised. Includes data for motorcycles. 0 Excludes "special category" exports not shown separately for security reasons. *New series. Compiled by the U. S. Department of Labor, Bureau of Labor Statistics; monthly data beginning 1947 will be shown later. i 5 506 4 812 8, 378 1 1 121 198 8,773 210 i 5 149 i 3 563 i 10 H6 144 146 150 i 5 582 5 475 1 10 343 1 93 163 164 i 5 138 i 4 958 UO 507 125 1 i 5 497 i 5 034 10 900 SURVEY OF CURRENT BUSINESS S-38 Unless otherwise stated, statistics through 1950 and descriptive notes are shown in the 1951 Statistical Supplement to the Survey May 1952 1951 March April May July June 1952 August September October November December January 188, 389 132, 524 February March 159, 041 162, 959 174, 155 19 874 85 11 791 17 993 4 711 17 039 73 12 696 22 336 7 056 16 545 76 14 362 24 519 r 8 987 18 09*> 78 15 993 26 621 10 723 436, 552 342 901 406 229 353 812 392 482 378 321 STONE, CLAY, AND GLASS PRODUCTS ABRASIVE PRODUCTS Coated abrasive paper and cloth, shipments. _reams._ 206, 940 179, 507 191, 138 162, 002 161, 093 174, 180 171, 584 195, 139 PORTLAND CEMENT Production _ thous. of bbl. Percent of capacity. __ __ Shipments thous. of bbl Stocks,f i n i s h e d ,e n d o f month. _ _ _ _ _ ..do Pfr>cks, clfnkpr, ^Tid of month do 18, 708 20, 184 82 91 ' 17, 678 r 20, 921 ' 23, 250 r 22, 511 8,194 8,068 21,924 21, 984 96 99 ' 24, 867 '24,916 r 19, 566 r 16, 630 7,482 6,682 r r 605, 304 599, 905 571, 338 540, 545 22, 439 98 24, 259 14,812 5, 601 r r 22, 514 98 25, 841 11,491 4 851 r r 22 269 100 23 253 10, 499 4 138 22 797 99 r 26 134 r 7 162 3 544 r 591,281 578 080 532, 937 466 690 20 737 93 r 17 994. r 9 910 3 882 r r CLAY PRODUCTS Brick, un glazed: Production thous. of standard brick. _ Shipments do Price, wholesale, common, composite, f. o. b. plant f dol. per thous Clay sewer pipe, vitrified: Production.. __ _ short tons__ Shipments do Structural tile, unglazed: Production do. _ Shipments do 534, 077 550, 274 553,468 552, 881 600,516 577, 686 603, 781 571 081 538, 774 516 533 27. 317 27. 317 27. 317 27. 317 27.317 27 317 27 366 27 366 27 366 27 366 27 317 27 317 139, 653 125, 328 142, 356 134, 777 144, 666 141, 774 138, 922 137, 142 137, 727 141, 255 151, 181 150 323 137, 430 135 057 158 121 154 034 141 154 121 239 124 993 82 546 134 045 86 576 127 442 97 107 110, 146 108, 738 105, 268 108, 653 106,045 108, 866 104, 547 105, 045 101, 903 100, 040 103, 493 101 782 93 164 94 063 101 922 100 142 98 965 85 529 84 411 66 682 81 948 71 403 78 061 75 617 10, 987 10, 250 11,075 9, 583 10, 849 10, 390 10, 489 9,847 10,355 9,372 10 575 10, 543 9 134 9,397 9 341 8 948 7 804 7 714 7 603 7 568 8 941 8 485 8 783 8 053 GLASS PRODUCTS Glass containers: Production thous. of gross Shipments, domestic, total. do General-use food: Narrow -neck food _ _ do Wide-mouth food (IKC!. packers' tumblers, jelly glasses, and fruit jars)._thous. of gross.. Beverage (returnable and nonreturnable) thous. of gross. _ Beer bottles do Liquor and wine ._ __do Medicinal and toilet do Chemical, household and industrial _ _ _ d o Dairy products do Stocks, end of month. _. do Other glassware, machine-made: Tumblers: Production thous. of dozens. _ Shipments do Stocks __do Table, kitchen, and householdware, shipments thous. of dozens. _ 738 9 400 9 005 1,116 1,067 999 908 1,125 1,432 1 072 632 674 783 859 881 2,472 2,332 2,666 2,410 2,416 2,782 2,281 2,426 2,122 1,885 2,498 2,123 2,400 447 978 1,302 2,740 883 313 8,091 617 1,190 931 2,389 823 235 9,293 803 1,468 880 2,426 878 271 9,426 969 1,786 730 1,965 823 255 9,714 858 1,848 746 1,805 695 266 10,375 602 2 279 805 1,901 722 326 10, 102 332 1 344 1,171 1 782 717 338 9,839 297 746 1 328 1 985 782 312 9,884 319 840 1,097 1 810 634 260 9,710 532 873 906 1 795 572 330 9,453 525 841 741 2 161 679 258 9 635 503 874 840 1 962 ' 693 199 10 093 655 806 979 2 272 783 228 10 216 7, 570 7, 156 10, 340 7, 534 6,851 10, 933 7,292 6,760 11, 381 6, 384 5,737 11, 974 5,560 5,733 11, 769 5,807 5, 331 12, 256 4,656 4,387 12, 556 4,966 5,414 11, 978 3,889 4, 645 11,228 3,800 3,352 11, 579 4 883 4 473 11 837 5 136 5 514 9 989 6 589 5 061 10, 241 3,998 3,439 3,408 2,682 2,766 3,506 2,892 3,459 3,368 2,589 3 005 3,857 13, 945 13 366 28 778 13, 465 13 495 28 748 GYPSUM AND PRODUCTS Crude gypsum, quarterly total: Imports thous. of short tons Production _ do Calcined production quarterly total do Gypsum'products sold or used, quarterly total: Uncalcined short tons Calcined: For building uses: Base-coat plasters do Keene's cement do All other building plasters do_ Lath thous of sq ft Tile do Wallboard of do Industrial plasters short tons 613 2,102 1,838 664 2,305 1,981 1 171 2,271 1 977 859 2 027 1 681 660, 470 656, 070 588, 584 636 366 512, 238 14, 328 137, 878 710, 197 10, 002 849, 933 76, 976 591, 646 15, 053 154, 610 745, 224 10, 710 877, 893 71, 181 590, 559 13, 711 169,219 704 333 9 386 855 222 68, 612 471,072 10, 648 146 036 602 500 7 763 776 854 71 377 TEXTILE PRODUCTS CLOTHING Hosiery: Production thous. of dozen pairs ._ Shipments _ do _ Stocks end of month _ do 14, 765 14, 617 25, 780 13, 143 11, 875 27, 048 12, 943 10, 983 29, 008 12, 163 11, 453 30 208 9,383 9,259 30 332 12, 670 12, 929 30 073 11,862 12 605 29 330 13, 617 14, 374 28 573 12, 928 13 986 27 515 11, 393 11 611 28 199 13 250 13 961 28 037 COTTON Cotton (exclusive of linters) : Production: Ginnings§ thous. of running bales *9,908 224 10 022 2 014 13 554 5,468 12 803 Crop estimate, equivalent 500-lb. bales thous. of bales i 10, 012 817, 154 Consumption^ _ bales 985, 227 832, 561 903, 041 754, 119 722, 004 672, 715 768, 072 730, 817 905 062 Stocks in the United States, end of month, 3,822 totalf thous. of bales 6,461 5, 008 2,958 2,278 10, 759 16, 198 15, 125 12, 128 13, 646 3,716 Domestic cotton, total ._ „ do_ _ 6, 349 4,906 2,848 2,166 15, 022 12, 037 10, 672 16, 090 13, 550 227 125 134 On farms and in transit do 108 13 652 10 734 3 492 480 4 754 6 840 1,034 Public storage and compresses _ __do 3,554 719 2,403 1,586 1,438 3,289 5,644 5,514 5,886 Consuming establishments do 2,022 2,315 2,276 1,690 1,313 999 1,536 1,000 1,196 1,397 Foreign cotton, total do 102 106 110 112 112 108 103 96 92 87 * Revised. t Revised series. Data beginning 1947 will be shown later. 1 Total ginnings of 1950 crop. 2 Total ginnings of 1951 crop. cflncludes laminated board, reported as component board. § Total ginnings to end of month indicated. IData for April, July, and October 1951 and January 1952 cover 5-week periods and for other months, 4 weeks; stocks data are for end of period covered. 2 15 058 14 508 922 559 768, 889 2 15 13Q 736 535 9 060 8,981 2 421 4 920 1,639 80 7,638 7,537 1 503 4 394 1,640 101 6 351 6 254 887 3 773. 1,594 97 SURVEY OF CURRENT BUSINESS May 1952 Unless otherwise stated, statistics through 1950 and descriptive notes are shown in the 1951 Statistical Supplement to the Survey S-39 1952 1951 March April May June July August S m <Tr -| October Novem- Decem- ber January Febru- ber ary March TEXTILE PRODUCTS—Continued COTTON—Continued Cotton (exclusive of linters)— Continued Exports _ balesImports _ do __ Prices received by farmers cents p e r l b _ _ Prices, wholesale, middling, l5/it", average, 10 markets _ cents per lb_ Cotton linters :f Consumption thous. of bales. Production _ do_ Stocks end of month do 354, 302 3,114 r 42.2 480, 085 9,740 43.2 371,417 16, 102 42.5 204,006 18,412 42.0 129 144 7 529 39.1 145 758 3 679 34.6 356 209 2 320 33.7 583 927 5 722 36.2 803 580 1 046 41.0 979 762 2 214 40.3 676 400 15 453 38.7 587 763 35 470 37.3 36.7 45.1 45.2 45.2 45.2 40.1 35.0 35.1 36 9 41.5 42.2 41.9 40.6 40 8 '126 77 517 111 52 468 115 36 398 96 31 327 90 21 260 88 64 231 114 175 272 136 267 367 131 247 460 117 205 538 118 221 620 120 r 174 108 140 655 2,842 79, 574 7,486 73, 856 3,950 72, 428 4,807 2,651 73, 786 2,614 63, 092 2 497 63, 850 1,935 2,279 65, 408 2 174 53, 745 1 600 64, 127 1,690 2,302 77, 431 1,846 62, 133 1 879 72, 255 1 999 49.80 43.7 25.4 25.9 45.60 43.7 24.8 25.8 42.57 44.9 23.8 25.1 39.77 46.6 23.0 23.0 38 77 45.4 (i) 20.9 37 62 41.5 17 4 18.1 33 88 40 5 17 2 18 1 31 20 40 7 17 1 18 4 28.72 41.6 17.8 19.3 29.95 42.7 18 1 19.8 29 04 42.7 17 8 19 4 28 45 42.7 17 0 18 8 .921 1.176 .921 1.176 .915 1.176 .867 1.127 .806 1 058 .767 968 .720 926 712 911 .769 .948 .791 .960 22, 246 20, 957 11, 083 554 10, 436 149.7 21, 134 19, 903 12, 447 505 11.699 136.4 21, 770 20, 516 10, 399 533 9,768 144.1 22, 145 20, 910 10, 287 514 9,677 138.9 22, 128 20, 871 9,858 411 9,241 110.7 22, 000 20, 755 9,368 468 8,786 126.3 21, 895 20, 714 9,247 474 8,745 127.8 21, 609 20, 394 11, 393 460 10, 721 124.1 21,758 20, 519 9,050 464 8,486 125.4 21, 516 20, 264 8,336 439 7,823 118.4 21, 360 20, 102 11, 399 465 10,686 125. 8 85.5 27.4 79.8 27.2 81.9 29.2 83.4 26.3 78.7 28.4 69.6 28.5 57.1 24.8 56.4 26.0 56.9 27.0 57.5 23.9 63.1 27.3 8.4 4.0 7,372 10.1 3.6 8,767 11.3 4.7 5,310 12.7 4.2 9,696 20.0 4.9 9,738 36.1 6.1 7,810 54.2 8.7 7,591 73.2 9.4 6,506 84.2 10.7 5,149 91.3 15.2 5, 946 .780 .400 .780 .400 .780 .400 780 400 .780 .400 .780 .400 .780 .400 .780 .400 .780 .400 .780 .400 576 499 395 375 364 577 645 842 708 5.62 '5.17 4.58 4.37 4.30 4.13 4.42 4.65 4.68 27, 944 12, 716 66, 878 42, 940 12, 270 74, 872 33, 724 7,200 55, 264 33, 376 6,560 45 190 30, 700 2,395 33, 761 28, 892 4,388 41, 850 27, 392 4,500 23,330 31, 700 7,895 32, 026 25, 368 6,728 29, 665 25, 116 7,084 39, 649 2 3. 750 2 2 2 2 2 2 21.962 r 629 COTTON MANUFACTURES Cotton cloth: Cotton broad-woven goods over 12 inches in width, production quarterly cf mil. of linear yardsExports _ thous. of sq. yd_ Imports do Prices, wholesale: Mill margins cents per Ib Denim 28-inch* cents per yd Print cloth 39-inch 68 x 72* do Sheeting in gray 40-inch 48 x 44-48* do Cotton yarn, Southern, prices, wholesale, mill: 22/1 carded white cones dol per Ib 40/1 twisted carded skeins do Spindle activity (cotton system spindles) :^ Active spindles, last working day, total ___thous__ Consuming 100 percent cotton _ do _ Spindle hours operated, all fibers, total.mil. of hr__ Average per working day do _ Consuming 100 percent cotton do Operations as percent of capacity _ - - 3 26 61 3 .784 1 069 21, 126 19, 854 9,265 471 8,696 127.3 21, 159 19, 885 9, 040 452 8,478 122. 3 57.8 23.6 55.6 20.1 '99.3 15.7 9,509 101.7 18.0 RAYON AND MANUFACTURES AND SILK Eayon yarn and staple fiber: Consumption: Filament yarn mil. of lb_ Staple fiber do Stocks, producers', end of month: Filament yarn do _ Staple fiber do Imports thous. of Ib Prices, wholesale: Yarn, viscose, 150 denier, filament, f. o. b. shipping point* dol per Ib Staple fiber viscose 1^6 denier do Rayon broad-woven goods, production, quarterly cf Silk, raw: Price, wholesale, white, Japanese, 20/22 denier, 87% (A A), f. o. b. warehouse 9 dol. perlb.. 636 338 596 707 97.5 15.2 8,011 r r r .780 .780 848 1 524 1 205 '4.78 4.82 4.97 29, 330 11, 005 42, 487 24, 776 9 720 40, 557 2 1. 850 2 1. 820 2 1. 644 .740 .722 .644 .638 1. 725 2 1. 562 2 1. 375 130 1,745 14 140 1,734 18 112 47 126 50 425 004 411 100 WOOL Consumption (scoured basis) :§ Apparel class thous. of Ib Carpet class do_ Imports do Prices, wholesale, Boston: Raw, territory, 64s, 70s, 80s, scoured-- -dol. per lb_. Raw, bright fleece, 56s, 58s, greasy, 47 percent shrinkage dol. per lb__ Australian, 64s, 70s, good topmaking, scoured, in bond dol. per lb__ 3. 338 3.130 1.564 1.325 1.236 2 3. 600 a 3. 275 23.010 153 1,852 22 124 2,258 21 168 88 2. 850 2. 600 2. 230 1.125 .982 .872 2. 825 2 2. 450 140 2,200 25 145 2 252 18 148 73 120 64 73, 704 89, 941 139 76, 926 111, 730 200 57, 744 6,816 35, 460 15 468 76, 445 8,655 50, 235 17 555 1. 825 2 1. 980 .730 .770 2 2. 200 21.825 2 1. 820 110 1,685 11 139 1,908 13 141 1,772 14 116 64 46 25 89 45 75, 376 104, 316 185 79 070 100, 875 184 58, 540 75, 843 131 59, 248 6,524 41, 320 11 404 59 376 6,336 42 160 10 880 2 2 .762 21.750 2 r 2 1. 650 2 1. 600 WOOL MANUFACTURES Machinery activity (weekly average) :§ Looms:© Woolen and worsted: Pile and Jacquard thous of active hours Broad do Narrow do Carpet and rug: Broad do___ Narrow do Spinning spindles: Woolen do „ Worsted0 _ do Worsted combs do Wool yarn: Production total §® thous of Ib Knitting§ do Weaving § do Carpet and others do Price, wholesale, worsted yarn (Bradford mafhine knittin? svstem") 2/20s* dol. ner Ib _ r 3.852 124 1,750 9 130 1,787 10 129 1,763 13 89 41 98 43 96 41 100 46 71, 567 83, 351 142 67, 806 77, 342 129 69, 869 77, 098 124 72, 835 76, 698 120 70, 034 72, 078 119 r 70, 037 ' 68, 175 110 73, 501 74, 150 121 50, 665 5, 315 40 225 5 125 52, 356 6,008 39, 036 7 312 48, 648 5,416 36, 520 6,712 61,670 6,795 44, 465 10, 410 51, 232 5,572 36, 708 8,952 49,004 4,856 35, 364 8,784 r 60, 710 6,150 40, 305 14, 255 53, 540 6,080 34, 476 12, 984 2.817 2.695 2.358 2.477 2.453 2.410 2.389 2.286 • r r r 2 3 Revised. 1 No quotation. Nominal price. Substituted series. Quotations cover cotton yarns, natural stock, on cones or tubes, f. o. b. mill; $0.784, carded weaving yarn; $1.069, combed knitting yarn. Earlier data are not available for publication. H Data for April, July, and October 1951 and January 1952 cover 5-week periods and for other months, 4 weeks; stock data and number of active spindles are for end of period covered. cf Beginning 1951, production of broad-woven goods is classified according to principal fiber content; production of fabrics containing 25.0-49.9 percent wool (which cannot be distributed between cotton and rayon goods) and rayon and cotton fabrics produced on woolen and worsted looms amounted to approximately 73 million yards in 1950. 9 Substituted series. Data beginning January 1950 will be shown later. §Data for April, July, and October, 1951 and January 1952 cover 5-week periods; other months, 4 weeks. ©Beginning 1951, looms weaving fabrics principally wool by weight. ©See note in August 1951 SURVEY regarding coverage of operations in cotton mills beginning with January 1951 data. *New series. Compiled by the U. S. Department of Labor, Bureau of Labor Statistics; monthly data beginning 1947 will be shown later. SUEVEY OF CURRENT BUSINESS S-40 Unless otherwise stated, statistics through 1950 and descriptive notes are shown in the 1951 Statistical Supplement to the Survey March April r May May 1952 1951 June 1952 August July September October November December January February March TEXTILE PRODUCTS—Continued WOOL MANUFACTURES— Continued Woolen and worsted woven goods, except woven felts :f Government orders do Other than Government orders total do Women's and children's do Blanketing do Other nonapparel fabrics do Prices, wholesale, f. o. b.// mill: // Suiting gabardine 56 /58 * dol per yd Women's dress goods, flannel, 8 oz., 54-inch dol per yd 96, 746 79, 874 23, 451 56, 423 29, 666 26, 757 16,872 8,C65 8,807 95 702 81, 737 9,517 72, 220 38, C25 34, 195 13, 665 4,781 9,184 3,514 3. 302 0) 84 570 68, 603 32, 474 36, 429 17, 180 19,249 15, 667 9,560 6,107 90 034 76,414 29, 513 46, 901 19 868 27, 033 13 620 7,689 5,631 4.562 4.381 4.381 4.381 3.572 3.713 3.713 3.302 3.302 3.302 3.302 2.722 2.722 (i) 3.713 3.713 TRANSPORTATION EQUIPMENT AIRCRAFT Civil aircraft shipments Exports i. number. . - - do 272 87 247 68 248 103 216 66 207 103 171 48 184 62 124 49 162 62 152 69 224 42 227 212 755, 022 639, 272 652, 727 617, 685 492, 316 549, 708 476, 002 450, 416 380, 6.50 375, 410 ' 435, 216 356, 500 346, 048 93, 083 75, 653 292, 799 284, 323 87, 006 70, 834 MOTOR VEHICLES Factory sales, total Coaches total Domestic Passenger cars total Domestic Tracks, total Domestic . 482, 263 140,047 121,461 482, 029 457, 293 134, 818 115,079 381, 407 359, 276 110, 244 91, 517 426, 932 404, 590 121,993 99, 007 365, 906 350, 246 109, 353 90, 445 526, 447 1,174 1,108 414, 533 401, 392 110, 740 92, 275 43, 436 25, 461 17, 975 43,337 24, 352 18, 985 38, 978 22, 567 16,411 39, 272 21, 148 18, 124 40,364 19, 638 20, 726 39, 401 18, 986 20, 415 26,262 11,777 14, 485 34, 857 14, 270 20, 587 30, 477 10, 273 20, 204 7,102 6,809 3,950 2,859 293 6,351 5,999 3,459 2,540 352 6,861 6,529 3,613 2,916 332 5,591 5,330 2,685 2,645 261 4,648 4,416 1,984 2,432 232 4,763 4,475 1,697 2,778 288 4,598 4,344 1, 599 2,745 254 5,605 5.304 2,251 3, 053 301 4,704 4,441 1,853 2,588 263 4,634 4,366 1,859 2,507 268 512, 599 86, 287 467, 313 84, 961 470, 446 90, 627 454, 665 87, 461 406, 333 84, 021 424, 422 87, 646 406, 217 84,814 373, 162 92, 281 332, 099 76, 517 310, 084 62, 596 301 379 59, 661 7,011 4,966 4,966 2,045 9,774 7,198 7,198 2,576 23 17 6 6 9,644 7,185 7,185 2,459 38 34 13 4 5,290 4,014 4,014 1,276 7,183 5,156 5,156 2,027 19 10 14 2 0 0 8,578 5, 755 5, 755 2,823 25 25 16 0 10, 129 6,794 6,777 3,335 12 8,274 5,781 5,781 2,493 29 17 8 12 0 9,845 6,336 6,315 3, 509 45 45 18 0 8,470 5,690 5,678 2,780 25 25 14 0 1,722 1,727 1,731 1,736 1,736 1,737 1,741 1,743 1,748 82 4.8 137, 349 98, 625 38, 724 87 5.0 138,319 94, 837 43, 482 89 5.1 134, 348 91,775 42, 573 90 5.2 128, 540 86, 935 41,605 96 5.5 125,846 84, 858 40, 988 91 5.3 121, 359 81,623 39, 736 92 5.3 118,073 80, 522 37, 551 87 5.0 113,394 76, 530 36, 864 84 4.8 110, 325 70, 914 39, 411 3,317 13.6 3,290 13.3 3,077 12.7 3,003 12.6 3,048 13.0 3,091 13.3 3,180 13.9 3,009 13.5 20 0 20 18 0 18 16 0 16 14 0 14 12 0 12 10 0 10 23 0 23 number.. do do_ _. do __do_ __ do do 617, 399 588, 435 136, 794 118,235 503, 038 475, 316 135,415 117, 483 Fxports total i Passenger cars Trucks and busse^t do do do 42, 668 23, 115 19, 553 Truck trailers production, total Complete trailers .. - _ Vans All other Trailer chassis do do do do do Registrations: New passenger cars New commercial cars do do - - . 829 792 819 764 742 702 511,938 838 773 665 630 783 778 743 660 833 710 845 746 778 755 273, 572 258, 457 101, 060 85, 194 625 525 333, 885 '315,499 'T 100, 706 84, 670 2 2 2 2 22, 121 2 9, 226 2 12, 895 5,013 4,657 1, 950 2, 707 482, 973 569 499 373, 231 352, 645 109, 173 92, 033 30, 914 14, 272 16, 642 4,655 4,416 1,873 2,543 219 5,137 4,746 1,964 2,752 364 295 479 59, 285 322 857 63, 364 8,643 6,082 6,082 2,561 8 8 g 0 7,358 5,494 5,494 1,864 21 21 10 8,161 5 840 5,838 2.321 o o 1,752 1,755 1,758 1,761 90 5.2 104, 831 67, 973 36, 858 87 5.0 98 566 63 482 35, 084 87 50 93,605 60 107 33, 498 89 51 91 056 58 234 32 822 2,901 13.3 2,718 12.8 2,643 12.7 2,701 13.3 2,480 12 6 21 0 21 20 0 20 18 17 1,721 1,721 1,789 1,789 19 0 19 1,720 1,720 18 1 594 1 594 17 16 0 16 1 573 1 573 1 441 1 441 r r 313 r r RAILWAY EQUIPMENT American Railway Car Institute: Shipments: Freight cars, total number Equipment manufacturers, total do Domestic __do_ Railroad shops, domestic _ . _ _ -do Passenger cars, total - do Equipment manufacturers, total-- - ...do Domestic . . - _-do_ . Railroad shops, domestic do. Association of American Railroads: Freight cars (class T), end of month :§ Number owned _ .thousands Undergoing or awaiting classified repairs thousands. . Percent of total ownership Orders, unfilled _ _ number Equipment manufacturers do Railroad shops do Locomotives (class I), end of month: Steam, undergoing or awaiting classified repairs number_ Percent of total on line . . Orders, unfilled: Steam locomotives, total number Equipment manufacturers do Railroad shops. do Other locomotives, total do Equipment manufacturers. do Railroad shops do Exports of locomotives, total Steam Other do ..do do 26 14 7 1,863 1,863 0 1,737 1, 737 0 1, 823 1,823 1,660 1,660 0 0 19 1,590 1,590 0 14 1,547 1, 547 1,804 1,804 0 0 '22 r 22 r !8 0 o o 34 0 34 52 1 51 34 1 33 39 1 38 48 0 48 63 0 63 50 1 49 60 1 59 65 3 62 37 1 36 595 519 76 397 354 43 464 420 44 604 519 85 538 484 54 591 529 62 447 385 62 587 545 42 728 652 76 673 581 92 o o 3 o o 73 37 658 607 51 681 611 4 4 4 Q INDUSTRIAL ELECTRIC TRUCKS AND TRACTORS Shipments, total. . Domestic Export r 3 ._ ___ number.. do do 70 702 646 rj> 1 2 Revised. *> Preliminary. No quotation. Data beginning January 1952 exclude all military exports. Beginning 1952, detailed statistics are not available. fRevised series. Beginning with data for 1951, the Bureau of the Census reports for woolen and worsted woven fabrics refer to goods which are principally wool by weight (i. e., exclude fabrics containing 25^-49.9 percent wool previously included). {Excludes "special category" exports not shown separately for security reasons. §Not including railroad-owned pi ivate refrigerator cars. *New series. Compiled by U. S. Department of Labor, Bureau of Labor Statistics. More complete specifications are: Worsted suiting, women's and children's gabardine 10V6oz./yd.; monthly data for 1950 will be shown later. •INDEX TO MONTHLY BUSINESS STATISTICS, Pages S1-S40Pages marked S Abrasive paper and cloth (coated) 38 Acids 24 Advertising 7, 8 Agricultural income and marketings 2 Agricultural wages, loans 15 Aircraft 11,12,14,40 Airline operations 22 Alcohol, denatured and ethyl 24 Alcoholic beverages 2, 6,8, 27 Aluminum . 33 Animal fats, greases 25 Anthracite 2, 5,11,13,14,15, 34 Apparel, wearing 3, 4, 5, 6, 8, 9, 11, 12,14, 15, 38 Asphalt and asphalt products 36 Automobiles 2, 3, 7, 8, 9, 11, 12, 13,14, 18, 21 Balance of payments __~_ 20 Banking 15,16 Barley 28 Barrels and drums 32 Battery shipments 34 Beef and veal 29 Beverages, alcoholic 2, 6, 8, 27 Bituminous coal 2, 11, 13, 14,15,34, 35 Boilers 33,34 Bonds, issues, prices, sales, yields 19 Book publication 37 Brass 33 Brick___ 38 Brokers' loans 16,19 Building construction (see Construction). Building contracts awarded 6 Building costs 7 Building materials 7,8,9 Business, orders, sales, inventories 3,4 Businesses operating and business turn-over.4 Butter . --27 Candy -~ 29 Cans, metal 33 Capital flotations 18,19 Carloadings. 22,23 Cattle and calves .... 29 Cement and concrete products 2,6,38 Cereal and bakery products, price — 5 Chain-store sales___ 9 Cheese 27 Chemicals 2, 3, 4, 5, 12, 14, 15,18, 21, 24 Cigars and cigarettes 6, 30 Civil-service employees —12 Clay products (see also Stone, clay, etc.) 2,38 Clothing --_ 5, 8, 9, 11, 12, 14, 15, 38 Coal 2,5,11,13,14,15,34,35 Cocoa 29 Coffee 22,29 Coke - 2,35 Commercial and industrial failures 4 Construction: Contracts awarded 6 Costs 7 Dwelling units started 7 Employment, wage rates, earnings, hours.. 11, 12,13,14,15 Highway -- 6,12 New construction, dollar value 6 Consumer credit 16 Consumer expenditures 1, 8 Consumers' price index ... 5 Copper -_ 21,33 Copra and coconut oil . 25 Corn 19,28 Cost-of-Hving index (see Consumers' price index) 5 Cotton, raw, and manufactures 2, 5, 6, 21, 38, 39 Cottonseed, cake and meal, oil 25 Crops -- 2,5,25,27,28,30,38 Currency in circulation_ _ _ 18 Dairy products Debits, bank Debt, short-term, consumer ... Debt. United States Government^ . Department stores Deposits, bank Disputes, industrial Distilled spirits Dividend payments and rates____, Drug-store sales ... Dwelling units started 2,5, 14,27 15 16 17 9, 10, 16 15,16,18 13 27 1,18, 20 8,9 7 Earnings, weekly and hourly 13,14,15 Eggs and poultry — 2, 5, 29 Electric power _.- — _ _ 5, 26 Electrical machinery and equipment_.— 3,4,5, 7,34 Employment estimates 10,11,12 Employment indexes _____ 12 Employment security operations _ 13 Emigration and immigration. 23 Engineering construction — 6 Expenditures, United States Government 16 Explosives —25 Exports (see also individual commodities)-... 21 Express operations.... 22 Factory employment, payrolls, hours, wages _ _ _ 11, 12,13,14,15 Failures, industrial and commercial 4 Farm income and marketings 2 Farm products, and farm prices—....__ 2,5 Farm wages ... 15 Fats and oils .. 5,25,26 Federal Government, finance 16,17 Federal Reserve banks, condition of 15,16 Federal Reserve reporting member banks.„__ 15,16 Fertilizers.. _ _ .. 5,24 Fiber products — —. 34 Fire losses — 7 Pages marked S 25,29 25 31,32 28 2, 3,4, 5, 7, 8, 9, 11, 12, 14, 27, 28, 29, 30 Footwear 2, 5, 8, 9,12, 14, 15, 31 Foreclosures, real estate 7 Foreign trade, indexes, shipping weight, value by regions, countries, economic classes, and commodity groups ________ 21,22 Foundry equipment 34 Freight carloadings, cars, indexes.__„ 22, 23 Freight cars (equipment) 40 Freight-car surplus and shortage 23 Fruits and vegetables 2, 5, 21, 27 Fuel equipment and heating apparatus 33,34 Fueloil___ _ _ ____ _ 35 Fuels 2,5,35 Furs 22 Furnaces _, 34 Furniture 2,5,8,9,11,12,13,14 Gas, customers, prices, sales, revenues_, 5,26 Gasoline 36 Glass and glassware (see also Stone, clay, etc.). 2,38 Generators and motors 34 Glycerin 24 Gold 18 Grains .... 5,19,21,28 Gross national product 1 Gypsum and products ___, 6, 33 Heating and ventilating equipment 6,33,34 Hides and skins ...__. ... 5,22,30 Highways ... 6,7 Hogs 29 Home Loan banks, loans outstanding____ 7 Home mortgages 7 Hosiery . 38 Hotels - 11,13,14, 15, 23 Hours of work per week . 12,13 Housefurnishings __, ___, 5, 8, 9 Housing ... 5, 6, 7, 8 Immigration and emigration 23 Imports (see also individual commodities).___ 21,22 Income, personal 1 Income-tax receipts 16 Incorporations, business, new__ _ , 4 Industrial production indexes._, 2,3 Instalment loans _, 16 Instalment sales, department stores. _ , 10 Insulating materials _. . 34 Insurance, life _. _ _ _ _ 17,18 Interest and money rates . 16 International transactions of the U. S 20, 21, 22 Inventories, manufacturers' and trade 3, 9,10 Iron and steel, crude and manufactures 2, 6,14,21,32,33 Jewelry stores, sales, inventories _._.,._... 8, 9 _ _ _ ._ _ _ _ - _ . . . . „ > 35 Kerosene Labor disputes, turn-over _. 13 Labor force 10 Lamb and mutton 29 Lard ._..._._..._ _.__.. 29 Lead __ _ _ _ _ _ __ __ 33 Leather and products 2, 3, 4, 5, 12, 14, 30, 31 Linseed oil, „ ___, 25 Livestock ... 2, 5, 29 Loans, real estate, agricultural, bank, brokers' (see also Consumer credit) 7, 15, 16, 17,19 Locomotives, .... _ _ _ _ 40 Looms, woolen, activity 39 Lubricants .. 35 Lumber 2, 5, 11, 12, 13, 14,31,32 Machine activity, cotton, wool, 39 Machine tools ., 34 Machinery 2, 3, 4, 5, 11, 12, 13, 14, 18, 21, 34 Magazine advertising 8 Mail-order houses, sales __„«_ 10 Manufacturers' sales, inventories, orders —— 3,4 Manufacturing production indexes 2,3 Meats and meat packing 2, 5, 11, 12, 14, 29 Metals 2, 3, 4, 6, 11, 12, 13, 14, 15, 18, 32, 33 Methanol . 24 Milk ....... 27 Minerals . —. 2,3,13.14,15 Money supply . 18 Mortgage loans — ... 7, 15, 16 Motor fuel .___„ 36 Motor vehicles ... ... 3, 5, 8, 9, 40 Motors, electrical ____._.__ 34 National income and product.______ 1 Newspaper advertising . 8 Newsprint ... 22,37 New York Stock Exchange... _ _ _ _ 19,20 Oats . .... 23 Oil burners. , 34 Oils and fats .... 5,25,26 Oleomargarine _ 26 Operating businesses and business turn-over. _ 4 Orders, new and unfilled, manufacturers',____ 4 Paint and paint materials 5,26 Paper and pulp 2,3,6, 11,12, 14,36,37 Paper products... ... 2,3,4,36,37 23 Passports issued 12 Payrolls, indexes __ . — _ Personal consumption expenditures.... 8 1 Personal income --, Personal saving and disposable income. 1 2, Petroleum and products 3, 4, 5, 11, 12, 13, 14, 15, 21, 22, 35, 36 Pig iron. 32 Fish oils and Fl axseed Flooring Flour, wheat Food products fish Pages marked S Plant and equipment expenditures 1 Plastics and resin materials, synthetic 26 Plywood 31 Population __ 10 Pork 29 Postal business__ 8 Postal savings 16 Poultry and eggs 2, 5, 29 Prices (see also individual commodities): Consumers' price index 5 Received and paid by farmers 5 Retail price indexes 5 Wholesale price indexes 5,6 Printing 2,3,4, 11, 12, 15,37 Profits, corporation 18 Public utilities 1, 5, 11, 13, 14, 15, 17, 18, 19, 20 Pullman Company 23 Pulpwood 36 Pumps 34 Purchasing power of the dollar 6 Radio advertising 7 Railways, operations, equipment, financial statistics, employment, wages _ 1, 11,12,13,14,15,17,18,19, 20, 22, 23,40 Railways, street (see Street railways, etc.). Rayon and rayon manufactures 2, 6, 39 Real estate 7 Receipts, United States Government 16 Reconstruction Finance Corporation, loans 17 Refrigerators 34 Rents (housing), index 5 Retail trade, all retail stores, chain stores, department stores, mail order, rural sales, general merchandise 3,4,3,9,10 Rice 28 Roofing and siding, asphalt36 Rosin and turpentine 24 Rubber, natural, synthetic, and reclaimed, tires and tubes 22,37 Rubber industry, production index, sales, inventories, employment, payrolls, hours, earnings 2,3,4, 12, 14, 15 Rye 28 Saving, personal 1 Savings deposits 16 Securities issued 18,19 Service industries 8, 11 Sewer pipe, clay 38 Sheep and lambs 29 Shipbuilding . 11, 12, 13,14 Shoes 2, 5, 8, 9,12, 14, 15,31 Shortenings 26 Silk, imports, prices 6, 22,39 Silver 18 Skins 5, 22,30 Slaughtering and meat packing 2, 11,12, 14,29 Soybeans and soybean oil 25 Spindle activity, cotton, wool 39 Steel ingots and steel manufactures (see also Iron and steel) 32,33 Steel, scrap__ 32 Stocks, department stores (see also Manufacturers' inventories) 10 Stocks, dividends, issues, prices, sales, yiefds-20 Stokers, mechanical 34 Stone, clay, and glass products 2, 3,11,12,13, 14,38 Stoves 34 Street railways and buses 13,14 15,22 Sugar 22,30 Sulfur I__ 25 Sulfuric acid . 24 Superphosphate 24 Tea 30 Telephone, telegraph, cable, and radio-telegraph carriers 11, 13, 14, 15, 19, 20, 23 Textiles........ 2, 3, 4, 6, 11, 12, 14, 15, 21, 38, 39,40 Tile.... 38 Tin. 22.33 Tires and inner tubes 6, 12, 14, 15, 37 Tobacco 2,3,4, 5, 6,7,8, 11, 12, 14, 15,30 Tools, machine 34 Trade, retail and wholesale. 3, 4, 8. 9.10,11, 13, 14,15 Transit lines, local 15,22 Transportation, commodity and passenger 22,23 Transportation equipment 2,3,4,11,12,13, 14,40 Travel 23 Truck trailers 40 Trucks 40 Turpentine and rosin 24 Unemployment and unemployment compensation 10,13 United States Government bonds 17, 18,19 United States Government, finance 16,17 Utilities. 1, 5, 11, 13, 14, 15,17, 18, 19, 20 Vacuum cleaners 34 Variety stores 9 Vegetable oils 25,26 Vegetables and fruits 2,5,21,27 Vessels cleared in foreign trade 23 Veterans' unemployment allowances 13 Wages, factory and miscellaneous Washers Water heaters.Wax Wheat and wheat flour Wholesale price indexes Wholesale trade Wood pulp „ Wool and wool manufactures Zinc. 13,14,15 34 34 36 19, 28 5,6 10 36 2, 6, 22, 39, 40 33 A Regional Market Guide ECONOMY State and Regional Economic Progress— A detailed record covering two decades after 1929—with tables and charts showing each area's national ranking in various fields of business and in resource use. Breaking down the national indexes of business growth, this volume shows the chief reasons for the pre- and post-war differences in the various regions, and the varying rates at which per capita income is being raised. REGIONAL TRENDS analyzes the pre- and post-war economic growth of the seven major geographic areas. It graphically illustrates their gains in the last 20 years, and highlights the factors determining the level of per capita income in each region. Geographic distribution of industry and population growth—conditions influencing regional variations in income —are analyzed along with regional differences in production, investment, and trade, to give a clear picture of State and regional economic progress. REGIONAL TRENDS, a fact-finding report issued by the Office of Business Economics, U. S. Department of Commerce, as a supplement to its monthly magazine Survey of Current Business, carries a Statistical Appendix furnishing a wealth of data on income, population, employment, production, agriculture, mining, forestry, and resource development for every State and region. Regional Trends in the United Stales Economy is now available from the nearest Department of Commerce field office or from the Superintendent of Documents, U. S. Government Printing Office, Washington 25, D. C. - Price $1. UNITED STATES DEPARTMENT OF OFFICE OF BUSINESS ECONOMICS