Full text of Survey of Current Business : November 1947
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NOVEMBER 1947
SURVEY OF
CURRENT
BUSINESS
UNITED STATES DEPARTMENT OF COMMERCE
BUREAU OF FOREIGN AND DOMESTIC COMMERCE
Survey of
CURRENT
BUSINESS
YOLUMH 27t No, 11
(
NOVEMBER 1947
Statutory Functions: "The Bureau of Foreign and Domestic Commerce • • .\
to foster, promote, and develop the foreign and domestic commerce of I
the United States" [Law creating the Bureau Aug. 239 1912 [37 Stat. 408].] Ji
Contents
Page
1
THE BUSINESS SITUATION.
National Product and Income in the Third Quarter of
1947
7
Transitional Sayings Patterns of Individuals
9
CONSUMER CREDIT IN THE POSTWAR PERIOD.
11
FINANCIAL TRENDS OF LARGE MANUFACTURING
CORPORATIONS, 1936-46
16
STATISTICAL DATA:
Monthly Business Statistics
Statistical Index
S-l to S-40
Inside Back Cover
Classification of
Statistical Sections
General business indicators
Business population
Commodity prices
Construction and real estate
Domestic trade
Employment conditions and wages
Finance
Foreign trade
Transportation and communications . . . . .
Commodity sections:
Chemicals and allied products
Electric power and gas
Foodstuffs and tobacco
Leather and products
Lumber and manufactures
Metals and manufactures:
Iron and steel
Nonferrous metals and products
Machinery and apparatus
Paper and printing.
Petroleum and coal products
Rubber and rubber products
Stone, clay, and glass products
Textile products
Transportation equipment
Page
S-l
S-3
S-4
S-5
S-6
S-9
S-15
S-20
S-22
S-23
S-26
S-26
S-30
S-31
S-32
S-33
S-34
S-35
S-36
S-37
S-38
S-38
S-40
11 OtC—Contents of this publication are not copyrighted and
g may be reprinted freely. Mention of source will be appreciated. m
Published by the Department of Commerce, W. AVERELL HARRIMAN, Secretary—Office of
Business Economics, M. JOSEPH MEEHAN, Acting Director. Subscription price, including
weekly statistical supplement, $3 a year; Foreign $4. Single copies, 25 cents. Make remittances direct to the Superintendent of Documents, United States Government Printing Office,
Washington 25, D. C.
PRIVATE CONSTRUCTION ACTIVITY HAS
SHOWN BETTER THAN SEASONAL
PERFORMANCE SINCE MIDYEAR;
1,000
I,OOO
TOTAL NEW PRIVATE
CONSTRUCTION J/
< 800
800
By the
Office of Business Economics
O
0
The
Business Situation
600
Li.
600
SEASONALLY
- ,
ADJUSTED \/ /
O
4OO
400
200
200
1945
1946
1947
RESIDENTIAL BUILDING, AFTER LAGGING
IN THE SPRING, IS CURRENTLY LEADING
THE UPTREND,
600
600
RESIDENTIAL
(NONFARM)
400
400
2OO
200
i i i i i I i ii i i I ii t i iI t t t t t I i it ii
.0 I i
.,» '• .L.|...' '..I....* ..'. T. t 1 V 1 J I..'. * J H.I-.I....1 * ' 11.' I!
flj^":HtotM&5$. }^ftt^^^^:&r: ^^ycnoiff^r'~^o^» $epA^^if •s#:e#A#r..\ • A .
S^^pBfWte- '<dpigti^|!h^
764720°—47
1
;'^ 0^'W^r/f4'T' -'
Industrial production and employment moved ahead in
October—usually the peak production month of the autumn
season—with the rise exceeding the amount that might be
attributed to seasonal factors. The primary distribution
of goods, as evidenced by freight traffic, showed a better
than seasonal advance, but the sales data for the month are
not yet sufficiently extensive to indicate whether the improved
results of September, following the slow summer months, were
maintained. The production advances were widespread,
though some of the output went into inventories which have
shown an accelerated increase since mid-summer.
Pick-Up in New Order Volume
The more liberal buying policies of businesses in recent
months, which show up in the inventory growth, are reflected
in the most recent data on new orders. In the case of department stores, for example, orders have risen sharply so
that they are well above sales. The increase in the index of
new orders received by manufacturers in September was the
largest for any month this year.
Prices averaged higher in October than in September,
though in wholesale markets there was little change in the
broad averages after the early part of the month. The
higher level of farm prices is reflected in farm incomes.
Urban incomes continue to be increased by the higher employment totals, some further advances in wage rates, and a
rise in the hours worked per week. The flow of personal
incomes in October was further augmented by the cashing
of additional terminal leave bonds, though the amount of
redemptions was considerably under the September figure.
In the field of capital investment, the inventory increase
is a dynamic factor at present, with residential construction
moving upward when the usual seasonal trend is toward a
slackening pace. The trend of net foreign investment is
downward; the estimates of national product given in table 1
show that the drop from the second to the third quarter was
almost 3 billion on an annual rate basis. Foreign needs for
goods for relief and rehabilitation continued to be highlighted by the consideration being given to the program of
European economic recovery and by the issuance of two
Government reports weighing the impact upon the domestic
economy of a foreign aid program.
Unemployment Reduced to 1.7 Million
The stepped-up tempo of business activity is confirmed by
the trend in the volume of unemployment. The estimate of
1.7 million for October represents the lowest number of persons reported as being without work and actively seeking
jobs in 2 years.
The number of persons on unemployment insurance rolls
also has declined steadily since summer, as illustrated in
SURVEY OF CUEKENT BUSINESS
chart 2. In mid-October the 7 weekly volume of continued
claims under both the veterans and State programs was 1.2
million, as compared with 1.5 million claims in the previous
month, almost 2 million in mid-July, and approximately 2
million in October 1946. Although exhaustion of benefit
rights by veterans has been an important factor in the
downtrend, the volume of continued claims under the regular
unemployment program in October was the lowest since the
weeks immediately following VJ-day.
Rising Employment
The rise in the number of persons employed in civilian
work to a figure in excess of 59 million in October was a contraseasonal development which centered in nonagricultural
industries. In addition to the reported increase of over
300,000 in employment, there was a reduction of some
500,000 in the number of persons who had jobs from which
they were temporarily absent during the survey week. The
October gain extended the year-to-year increase in nonagricultural employment to 2.2 million; agricultural employment was unchanged from the estimate for October 1946.
Chart 2.—Weekly Insured Unemployment1
MILLIONS OF PERSONS
4
I -
1945
'
1946
'
1947
*7-367
1
Last week plotted in chart is for October 11.
Source of data: Federal Security Agency, Bureau of Employment Security.
The Bureau of Labor Statistics industrial break-down of
nonagricultural employment indicates that the largest
employment advance since the summer months has occurred
in manufacturing industries, although seasonal factors
resulted in increases in trade and Government employment.
The 160,000 increase in manufacturing employment from
August to September was largely associated with the improved flow of materials and the pick-up in orders.
Most Commodity Groups Contribute to Price Rise
Wholesale prices were generally higher in October than in
the previous month, although the weekly index covering
about 860 commodities showed no further advance after the
second week in the month. A seasonal decline in meat prices
lowered the food-price average, but farm-product prices
continued strong. The average for commodities other than
farm products and foods moved upward from week to week,
almost without interruption, the most recent cost influence
on prices in this group being the interim freight-rate increase
November 1941
of approximately 10 percent which was announced in October. The Interstate Commerce Commission has not ye1
taken final action on the carriers' petition for a rate increase
The strength of prices in October was particularly noticeable among raw materials, with higher prices being quotec
for such commodities as hides, raw cotton, wool tops, rubber
and steel scrap.
The widespread character of the recent price advance can
be illustrated by classifying the 48 unduplicated commodity
groups in the Bureau of Labor Statistics wholesale price
index into rising, falling, and stable categories. The results
of such a classification covering the period from May 1947,
when the low point in the second quarter decline was reached,
to September are shown in the following:
Number rising
Number falling
Number stable
Recent data not reported
34
\\
1
2
Export "Gap" Narrowed
As described in the quarterly review of national income
and product appearing in this issue, one of the few counterexpansionary developments in the recent business situation
can be found in the trend of United States foreign trade.
The value of recorded exports in September was about onesixth below the average for the high second quarter of 1947.
The combined effects of a further decline in exports and a
rise of more than 80 million dollars in the value of imports
in September reduced the excess of exports over general
imports to about 630 million dollars, the lowest figure since
January 1947. The excess ran to 800 and 900 million dollars
in some of the earlier months of the year.
Incomes Augmented by Leave-Bond Cashing
The advance in personal income has operated as a prime
underlying factor for the recent price rise and the increased
volume of consumer expenditures. If the addition to personal incomes resulting from the cashing of terminal leave
bonds held by veterans is excluded, the income flow in
September was at a seasonally adjusted annual rate of 199
billion dollars, which compares with a rate of 195 billion
dollars in August and an average of 192 billion dollars for
the first half of 1947. Inclusion of the amount of bond
redemption raises the September figure to 210 billion dollars
on an annual rate basis. The income bulge resulting from
bond cashings was sharply reduced in October when the
amount of redemptions was 160 million dollars, as compared
with almost 900 million dollars in September.
The actual disbursement of the proceeds of leave bond
redemptions by veterans will be spread over a longer period
of time than the period within which the cashing was concentrated. Thus, in the estimates of personal income,
consumption, and savings for the third quarter, which are
presented in this issue, the heavy cashing of bonds in September is largely reflected in an increase in personal saving,
although the ultimate disposition of these funds will be
quite different.
Contributing to the September rise in personal income
were the expansion in nonagricultural employment and
higher average hourly earnings in both manufacturing and
other nonagricultural industries. New wage settlements
and some increase in overtime work were important in raising average hourly earnings of factory workers to $1.25 in
September. Average weekly earnings in manufacturing
industries in September topped 50 dollars for the first month
on record.
November 1947
SUEVEY OF CURRENT BUSINESS
With the approach of the end of the year, an increasing
number of corporations have made larger dividend declarations, reflecting the upward trend of earnings in 1947.
Chart 3.—Industrial Production
INDEX, 1935-39-100
__ INDEX, 1935-39«IOO
250
250
QUARTERLY
(SEASONALLY
ADJUSTED)
Pick-up in Retail Sales
The increase in retail sales for September counterbalanced
the lagging sales reports for the two preceding months. At
a seasonally adjusted annual rate of 112 billion dollars, retail
sales in September were 4 percent over the previous high
mark set in June. In addition to the underlying uptrend in
personal income
and the stimulus given by the redemption
of veterans7 terminal-leave bonds, the pick-up in the dollar
volume of sales reflected further price advances and the
arrival of generally cooler weather after a prolonged heat
wave in many parts of the country had delayed fall buying.
Among the durable-goods groups where, with minor exceptions, supply is still the determining factor in sales, every
group showed substantial increases during September. Sales
in non-durable-goods stores rose 5 percent during the month,
after showing little change since the early months of 1947.
Food-store sales returned in September to the April record
level, with higher prices figuring prominently in the sales
increase. In the general-merchandise and apparel groups,
fashion changes and favorable shopping weather were factors
in pushing sales above high points in previous periods.
200 -
- 2oa
150 -
- 150
100
1939 1940 1941
1942
1943
1944
1945
1946 1947
100
MONTHLY AVERAGES
47-498
Includes iron and steel, nonferrous metals, lumber, tanning, pulp, industrial chemicals,
cotton and wool consumption, and minerals (excluding gold and silver).
Sources of data: "Total" index, Board of Governors of the Federal Reserve System; "raw
materials" index, computed by U. S. Department of Commerce, Office of Business Economics, from Federal Reserve indexes.
1
Inventory Rise
The advance in retail buying in September was preceded
by a marked stepping up of the rate of inventory accumulation from July to August which continued into September.
The reported book value of business inventories increased by
almost 1 billion dollars during September, as compared with
about 710 million dollars in August. The September increment was most*marked in the value of stocks held by retailers, which advanced 480 million dollars, a more than
seasonal rise and the largest addition in any month since
March 1947. About three-fifths of the September change for
manufacturers and distributors occurred among durable
goods firms; in August the rise was concentrated in the nondurable goods area.
During the fall of 1946, when inventory increases also
were substantial, the need to replenish stocks of civilian
goods was supplemented by needs arising out of the uneven
flow of goods from production lines and by shortages of
critical materials which often led to high but unbalanced
accumulations. Eising prices also were a factor in encouraging inventory buying as well as in adding to book values.
The recent renewal of inventory accumulation, however,
reflects not so much a hedge against delivery delays as it
does an upward revision of earlier expectations relative to
future prices and sales.
Industrial Production
The production pattern in 1947 has been less uniform than
was the case earlier in the postwar period when the reconversion industries were expanding output at a rapid rate
and most other industries were operating near capacity.
During 1947 major heavy goods industries—which still
carry a sizable backlog of unfilled orders—have often been
hampered in expanding their operations by relative shortages
of resources at various points in the industrial process.
At the same time, output has been reduced in some other
industries.
The explanation for the declines varies among the different products. In the case of shoes, textiles, wearing
apparel, and alcoholic beverages, a reduction in the volume
of consumer takings and the filling up of dealer's pipe lines
might be mentioned. With respect to nonferrous metals,
the curtailment in deliveries of semifinished products to
fabricators reflects the heavy concentration of deliveries in
late 1946 and early 1947 rather than any appreciable falling
off in consumption of the metal by fabricators. In the manufacture of building materials, the flow has continued at a
very high level, although there has been some irregularity
in the output of a few construction items.
There have also been periodic declines during 1947 in such
manufacturing areas as automobiles, refrigerators, and railroad equipment where demand is still high and far in excessof supply. These declines, however, were more limited ini
scope, being influenced largely by supply problems, notably
a shortage of certain raw materials and the lack of a balanced
flow of supplies and component parts.
Large Raw Material Requirements
The tight supply situation in the postwar period for key
industrial raw materials such as steel can be explained more
in terms of the composition of manufacturing output than
in terms of the over-all volume. As is well known, the overall volume in 1947 is substantially lower than in wartime,
although the magnitude of the reduction is difficult to measure because of the noncomparability of military and peacetime production. Total raw materials output, on the other
hand, is virtually as high as in the war period. This contrast is illustrated in chart 3 showing the trend of the Federal
Reserve industrial production index and of an index of raw
materials production computed by combining individual
series in the Federal Reserve index (see listing of series in
footnote to chart) having a collective weight of approximately 40 percent in the over-all production index.
Total industrial production was able to outdistance the
rate of output of industrial raw materials by a substantial
margin during the war because of the more extensive processing of materials required in munitions items. Labor
input per unit of output was high in the war economy, raw
materials input relatively low. The ending of the war saw
the restoration of peacetime production patterns and the
return to more usual relationships between raw materials
and total industrial production.
The chart suggests that raw materials production in 1947
has been running about as high as during the war. Since
SUEVEY OF CURRENT BUSINESS
raw materials supplies continue to be a limiting factor in
some industries, it would appear that the over-all raw material requirements of the postwar economy may be even
higher than in wartime. It should be noted, however, that
there was some loss of raw materials production during the
first half of 1946, when there were delays incident to work
stoppages, and that a part of the production has been absorbed by postwar inventory requirements.
Steel Shipments Top Prewar Rate
Of all of the basic raw materials, steel constitutes the
principal material which has been in tight supply throughout
the postwar period. Although production continues in
record peacetime volume—and only slightly below the wartime peak—demand is still in excess of supply.
Chart 4.—Net Shipments of Steel Products *
MILLIONS OF SHORT TONS
6
November 1947
those industries where the demand for sheets is heavily
concentrated.
The shaded section in the lower part of the steel chart
shows the trend and volume of sheet steel shipments in
relation to finished steel. Shipments for the first 9 months
of the year totaled approximately 10.7 million net tons.,
Present indications point to a total shipment of close to
15 million tons in 1947, which would be an all-time high and
over one-fourth above last year's amount. Sheet steel constitutes by far the largest single finished steel product and
accounted for 24 percent of the total in 1947, or about the
same proportion as last year. In 1941, sheets represented
21 percent of total shipments.
Some improvement hi the supply of light flat steel may be
expected when the expansion and modernization program
underway since the end of the war is completed. This expansion, which should be completed before the end of 1948,
will raise sheet and strip capacity by about 3 million tons a
year above the prewar level, and will bring total capacity to
21 million tons as against estimated shipments of approximately 18 million tons this year. The program also calls for
gross capacity increases of 2.5 million tons in steel ingots,
3 million tons in blast furnaces, and a like amount in coke
oven facilities.
Uptrend Interrupted in Reconversion Industries
The volume of finished goods flowing from the reconverted
consumer durable goods industries generally declined between the second and third quarters of 1947. In most cases,
this was the first reversal of the uptrend hi production since
operations were resumed following the end of the war. Some,
but not all, of the third quarter decline reflected seasonal influences, particularly the closing of factories for workers'
holidays during the summer months. In comparison with
previous months, output of consumer durables in July and
August fell to the lowest points since early this year, while
the recovery in September, although sizable, generally left
output somewhat below earlier highs.
Chart 5 shows the quarterly production trends during 1946
and 1947 of 12 important consumer durable goods in com1944
1946
1947
1941
1945
1942
1943
parison with the rate immediately preceding the war. The
47-475
only exceptions to the general drop in output in the third
i Data beginning with January 1944 are net shipments (total shipments less shipments to
members of the industry for further conversion); data prior to January 1944 are production
quarter occurred in automobile replacement batteries and
for sale. Separate data for January and February 1946 are not available; the average for the
heating stoves, which pushed to new highs, with the gain in
2 months is plotted in the chart.
the latter largely reflecting seasonal factors. Production of
Source of data: American Iron and Steel Institute.
five of the commodities shown was lower in the July-SepChart 4 illustrates the trend of net shipments of finished
tember period than in the preceding quarter for the first time
steel products moving into consuming channels since 1941. since production was resumed in 1945, while three registered
After the sharp dip immediately following VJ-day and the
a drop for two or more consecutive quarters.
subsequent decline resulting from industrial disputes during
In the household-appliance lines, the declines from the
the first half of 1946, shipments advanced to a rate which
second quarter generally were moderate. Evidence seems
approximates wartime volume. A total of about 47 million
to be increasing that the most urgent demands for some of
tons of finished steel products, or a monthly average of 5.2
these appliances have largely been met and that backlogs
million net tons, was shipped to consumers in the first 9
have dwindled to the point where further large gains in outmonths of 1947. Continuance of this rate of shipments in
put can no longer be expected.
the last 3 months would mean total deliveries hi 1947 of
Production of radios has been drifting downward since the
over 62 million net tons, which would be only fractionally
fourth quarter of 1946, due in large measure to sagging shipbelow the wartime peak of 1944 and about 2 percent above
ments of table models which are now almost two-fifths below
shipments in 1941 when a sizable portion of the tonnage the peak rate. In contrast, average monthly output of
was channelled into war production. Just under 49 million
console models in 1947 has been more than 15 percent higher
tons of finished steel products were shipped in 1946.
than the average for the final quarter of last year, while the
Because of the continuance of high operations in ingot and
number of television receivers manufactured increased from
finishing mills over most of the last 16 months, some types of
a monthly average of 3,000 in the fourth quarter of 1946 to an
steel have become more plentiful. Sheet steel, however,
average of almost 20,000 in the third quarter of this year.
which is largely used in the production of automobiles,
Factory sales of passenger cars in the third quarter of
refrigerators, and other durable consumer goods, has been
1947 dipped below the preceding quarter's sales for the first
a notable exception. Supplies of sheets have remained
time since the reconversion upswing got under way. Workconsiderably below requirements, frequently necessitating
ers' holidays in July and extreme temperatures, coupled with
downward revisions in planned production schedules in
supply difficulties, particularly steel, in August, reduced
SUEVEY OF CURRENT BUSINESS
November 1947
Chart 5.—Production of Consumers' Durable Goods 1
THOUSANDS OF UNITS
400
THOUSANDS OF UNITS
8,000
300
6,000
AUTOMOBILES, PASSENGER
1941
200
4,000
100
2,000
0
0
400
400
REFRIGERATORS,
HOUSEHOLD (ELECTRIC)
300
THOUSANDS OF UNITS
TIRES, PASSENGER-CAR
2,000 BATTERIES, AUTOMOTIVl
1941
VACUUM CLEANERS
WASHING MACHINES,
HOUSEHOLD
300 -(ELECTRIC AND GAS)
(FLOOR)
300
1941
200
200
100
100
0
0
2,000
80
RADIOS
1941
200 '1941
WATER HEATERS
WATER HEATERS
(ELECTRIC)
(NONELECTRIC)
60
1,500
1,000
500
0
800
600
COOKING STOVES AND
RANGES, DOMESTIC
HEATING STOVES,
DOMESTIC
-(NONELECTRIC)
\
I94O-4I
FISCAL YEAR,
400
200
200 -
1st
Or.
2d
Or.
3d
Or.
4th
Or.
1946
1st
Qr.
2d
Qr.
1947
3d
Qr.
1st
Qr.
2d
Qr.
1946
1947
1946
1947
MONTHLY AVERAGES FOR THE PERIODS
47-477
i Data for automobiles represent factory sales; data for tires, radios, nonelectric water heaters, cooking stoves and ranges, heating stoves, and the 1941 monthly average (base period) for
electric water heaters represent production; data for batteries, refrigerators, washing machines, vacuum cleaners, electric water heaters (except for the base period), and electric ranges represent shipments. Data for tires, batteries, washing machines, nonelectric water heaters, cooking stoves and ranges, and heating stoves for the third quarter of 1947 include estimates for September. Kadios include radio-phonograph combinations and television receivers.
Sources of data: Automobiles, Automobile Manufacturers Association; tires, Rubber Manufacturers Association; batteries, Association of American Battery Manufacturers; refrigerators,
electric ranges, and data other than for the 1941 monthly average (base period) for electric water heaters, National Electrical Manufacturers Association; washing machines, American Washer and
Ironer Manufacturers' Association; vacuum cleaners, Vacuum Cleaner Manufacturers Association; radios, Radio Manufacturers Association; data other than for the base periods for nonelectric
water heaters, cooking stoves and ranges, and heating stoves, U.S. Department of Commerce, Bureau of the Census; data for the base periods for water heaters, cooking stoves and ranges,
and heating stoves, War Production Board products reports.
output in these 2 months to the lowest point since February.
On the other hand, assemblies of 309,000 units in September
made it the best month since April 1947. Although there
were plant shut-downs in October because of model changes
and lack of materials, output for the month bettered the
September figure, but the increase was less than proportionate to the increase in the number of working days.
The tire industry, after almost 2 years of full production,
has perhaps been the first of the Nation's major durable
goods industries to catch up with the backlog of consumer
demand. This development has been reflected in production of passenger car tires which has edged downward for
two successive quarters from the peak first quarter rate.
Although production in the latest quarter was the lowest
SUKVEY OF CUREENT BUSINESS
6
November 1947
reduced from almost 30,000 cars in January 1947, to about
5,000 at the beginning of October.
Domestic production of freight cars fluctuated widely
during the period shown in the chart, rising or falling more
or less in inverse relation to the number produced for shipment abroad. Under the stimulus of the stepped-up carbuilding program instituted early in 1947, output for domestic use jumped from a monthly average of 4,500 in the second
quarter to 6,500 in the third quarter. September output of
about 7,600 cars—a postwar high—compares with a monthly
average of 6,700 in 1941, The present unfilled order backlog of 116,000 cars represents 15 months' production at the
September rate.
The unusual pattern of quarterly production of passenger
train cars shown in the chart is due to certain technical
aspects of the industry's operations rather than to actual
irregularities in the flow of work. Reflecting the modernization of equipment and the shift to high-speed articulated
de luxe passenger trains, operations have continued on a
high level and deliveries have exceeded the 1941 volume by
a substantial margin. The figures plotted in the chart
exclude deliveries of troop sleepers amounting to 713 cars
in the first 4 months of 1946. For the first 9 months of 1947
about 620 passenger-train cars were produced. Unfilled
orders as of October 1, 1947, totaled over 3,000 cars.
since the same period of 1946 and represented a decline of
12 percent from the rate in January-March 1947, it was still
about 40 percent above the prewar rate.
The extent to which large-scale production in various
branches of the transportation equipment industry has been
achieved since 1945 is illustrated in chart 6. For purposes
of comparison, the monthly average output for 1941, where
available, is shown; in general, this represents a relatively
high prewar rate of production. In almost every case, output is shown as having been substantially in excess of the
prewar rate for approximately a year or more.
The bar in the chart for the production of freight cars by
carbuilders and railroad shops is divided into two parts:
the lower part represents deliveries to railroads in the United
States and the upper part represents production for export.
The purpose of the division is to make allowance for the fact
that cars built for export average only about half the size
of domestic cars and require only about half the amount of
labor and materials.
The total number of freight cars manufactured for domestic use and for export moved up rapidly in 1946 and early
1947, but then declined somewhat as cars for export dwindled
from a high of 17,000 in the first quarter to less than 1,000
in the period just ended. The backlog of foreign orders was
Chart 6.—Production of Selected Types of Transportation Equipment1
THOUSANDS OF UNITS
THOUSANDS OF UNITS
125
NUMBER OF UNITS
FREIGHT CARS, RAILWAY
PASSENGER CARS, RAILWAY^
100 -
DELIVERIES FOR
FOR EXPORT #
BFOR DOMESTIC USE
THOUSANDS OF UNITS
10
TRAILERS, COACH
TRUCKS AND TRACTORS,
INDUSTRIAL (ELECTRIC)
(HOUSING TYPE)
8 -
6 4-
4 -
2 -
2 -
1946
1947
1946
1947
MONTHLY AVERAGES FOR THE PERIODS
1946
1947
47-463
* Data are factory sales for motor trucks, deliveries by carbuilders and railroad shops for railway cars, production for truck trailers, and shipments for coach trailers and industrial electric
trucks and tractors. Data for trailers and industrial electric trucks and tractors for the third quarter of 1947 include estimates for September.
2 The difference between "1941 total deliveries" and "1941 deliveries for domestic use" (base periods) represents total deliveries for export.
3 Data exclude troop sleepers for the first and second quarters of 1946; there were no deliveries of troop sleepers in the other periods shown in chart.
* Data for 1941 monthly average (base period) are not available.
Sources of data: Motor trucks, Automobile Manufacturers Association; railway cars, American Eailway Car Institute; trailers, U. S. Department of Commerce, Bureau of the Census;
tracks and tractors. The Electric Industrial Truck Association.
SUKVEY OF CUEEENT BUSINESS
November 1947
Chart 7.—New Nonfarm Family Dwelling Units, Privately
Financed 1
THOUSANDS OF UNITS
too
75
UNITS
STARTED
50
25
1945
1946
1947
1
Represents conventional and prefabricated types of dwelling units. Data for 1946 and
1947 are for permanent units only while data for 1945 also include a small number of temporary
units started which were not reported separately. Data for units completed are not available prior to 1946.
Source of data: U. S. Department of Labor, Bureau of Labor Statistics.
Progress in reaching the prewar rate of production was
more rapid in the motor-truck industry, where the conversion
problem was relatively minor, than in the passenger car
industry, as can be seen by comparing the respective panels
in charts 5 and 6. In manufacturing of other transportation
equipment, production moved higher in 1947, with the exception of truck trailers. The strong postwar uptrend in
truck trailer production in 1946 was followed by successive
quarterly declines this year.
Construction Activity
The better-than-seasonal performance in construction in
recent months is highlighted in the chart on the introductory
page of this issue. The estimate of private construction
activity was unchanged from September to October, a period
when activity ordinarily falls off because of seasonal influences. Public construction activity also has held up
better than seasonally, owing to a contra-seasonal advance
in public highway construction in October.
Residential building, after lagging during the spring, is
leading the current uptrend, with the value of work put in
place advancing to 500 million dollars in October as compared with 350 million dollars in October 1946. Commercial building also has picked up in recent months, but
the value of activity is still less than in the same period of
1946. Industrial construction, the largest component in
the private nonresidential segment, failed to show a seasonal
rise during the spring and summer, so that the seasonally
adjusted estimate for this type of construction in October
was back to the level in early 1946.
Housing Starts Top 90,000 in September
The recent advance in residential building is also apparent
in the trend of units started (see chart 7). With more than
90,000 permanent private housing units started in September,
the total for the first 9 months of 1947 reached 620,000. The
number of completions has advanced rapidly in recent
months from an estimate of 60,000 per month in the first and
second quarters of this year to almost 80,000 in September.
It now seems likely that a total of between 825,000 and
850,000 units will be completed in 1947. With about 440,000
units completed last year, nearly 1,300,000 permanent
dwelling units will have been provided in this 2-year postwar
period.
An indication that recent housebuilding activity is
becoming somewhat better tailored to the housing needs
of the population is afforded by the steady increase of
multifamily dwelling units—practically all of which are
places for rent—as a proportion of total building. From
a range of 7 to 8 percent in the first half year, this percentage
rose to almost 10 percent in July and to 11 percent in August.
The current proportion of multifamily units put under way,
however, is still well below the high of 32 percent started in
1927 and 1928. The percentages in the following table were
calculated from estimates of the number of privately financed
units scheduled to be started:
[Percent of total units]
Total
1947:
1st Quarter
2d quarter
July
August
100.0
100.0
100.0
100.0
Single
family
88.9
87.6
86.4
85.1
Twofamily
4.0
4.5
3.8
4.1
Multifamily
dwellings
7.1
7.9
9.8
10 9
Source: Bureau of Labor Statistics.
Part of the increased activity in building for rent may be
due to removal of rent controls on new construction in June
and to increased use of the more liberal financing arrangements available under the provisions of section 608 of the
National Housing Act. In the 9 months ending in September,
533 projects covering 26,000 units had been insured under
this section.
National Product and Income in the Third Quarter of 1947
The volume of national economic activity in the third
quarter of 1947 did not change greatly from the high reached
in the second quarter of the year, according to the estimates
of gross national product and income now available.1 The
distinguishing feature of the economic picture was a resumption of the price rise, after a temporary leveling in the second
quarter. This rise largely accounts for the third quarter
increase in the gross national product to 232 billion dollars.
As was explained in the August issue of the SURVEY, the
main upsurge of demand which had formed the background
of postwar developments had tapered by the second quarter
i The series in table 1 extend and revise those published in the August and September
issues of the SURVEY. Owing to lack of information on corporate profits, complete third
quarter national income figures cannot be given at this time. A subsequent issue of the
SURVEY will contain the information missing in the present tables. Annual and quarterly
data on national income, product, and related series for 1946 and earlier years can be found in
the National Income Supplement to the July issue of the SURVEY which is obtainable for 25
cents from the Superintendent of Documents, Washington, D. C.
of the year, although demand continued strong at high levels.
The autonomous upward shift in consumer expenditures had
ceased, with the exception of the demand for certain scarce
durable goods and services. Domestic demand for fixed
investment, other than construction, was approaching a
plateau. The major phase in the replenishment of business
inventories appeared passed; and foreign demand had clearly
attained its peak. Concurrent with the stabilization of
demand, both wholesale and consumer prices dropped in
April and in May below highs that had been reached in March.
In June, however, the price rise was resumed, and continued throughout the third quarter. This renewed advance
can be explained partly in terms of an upward revision which
occurred in the business community's estimate of the prospective level of economic activity which influenced investment and other decisions. The anticipation that foreign
8
SUKVEY OF CURRENT BUSINESS
aid plans would prevent or at least mitigate the sharp drop
in exports which had been expected as the result of the rapid
depletion of foreign purchasing power was a major factor
improving near-term business expectations. These in turn
were reflected in more liberal buying of goods with the
result that inventories rose at an accelerated rate. Wage
increases contributed to the summer's developments by
increasing costs of production as well as by adding to consumer purchasing power. High farm income, largely a consequence of higher prices, in turn contributed to the maintenance of demand. The redemption of the veterans' terminal
leave bonds in September also gave a fillip to personal incomes toward the end of the quarter. With domestic
demand strong and a continued heavy export demand
expected, the reduction in the corn crop constituted a
further strong incentive for price rise.
Main Developments Summarized
The main developments in expenditures for gross national
product and in the shares of income which reflect the tendencies discussed above can be summarized as follows:
1. Total demand for domestic business investment increased moderately from 29 billion dollars to 30 billion
at annual rates between the second and third quarters.
Purchases of producers' durable equipment, whose rise had
been progressively tapering off, continued at the high level
reached in the second quarter. New private construction
activity moved upward, mainly in the nonfarm residential
component. The activity figures do not yet reflect fully the
pronounced increase in residential starts which followed after
the hesitation of winter and spring. Inventory accumulation
which had dropped sharply by the end of the second quarter
was resumed and rose to substantial levels by the end of the
third. The resumption of inventory buying, like the previous
slackening, occurred mainly in nondurable goods. Durable
goods' inventories continued to be accumulated throughout
the year.
2. Approximately offsetting the increase in domestic investment, net foreign purchases of American goods and services dropped from the second quarter high of 10.5 billion
to an annual rate of 7.7 billion dollars in the third quarter.
The drop was due mainly to the depletion of the dollar and
gold holdings of foreign nations which was referred to in the
analysis of the second quarter national product figures in the
August issue and discussed in greater detail in the quarterly
reviews of the balance of payments. About 2 billion of the
decline reflected a decrease in foreign purchases of the output
of American business. The remaining billion was due to
smaller Government sales of surplus property abroad, and is
offset by a corresponding increase in Federal purchases of
goods and services which are reported on a net basis.
3. Consumer purchases increased by 4 billions at annual
rates between the second and third quarters. The increase
that occurred in durable goods reflected to a large extent a
spontaneous increase in response to more ample supplies of
scarce items, and was an independent factor in maintaining
economic activity. Other increases, however, are largely
explained by the movement of disposable income (see below)
and also by increased prices, which consumers were willing
to pay rather than to curtail correspondingly their real
consumption.
4. Government purchases increased slightly between the
second and third quarters reflecting a moderate expansion of
State and local expenditures. Gross Federal purchases
declined moderately.
November 1947
Table 1.—National Income and Product, First Three Quarters of
1947
[Billions of dollars]
Seasonally adjusted,
at annual rates
Unadjusted
1
II
III
48.9
30.9
29.5
24.9
1.2
3.4
1.4
11.8
5.6
4.4
50.2
31.7
30.3
25.8
1.0
3.4
1.4
11.8
5.5
4.5
P)
32.3
31.1
27.1
1.0
3.0
1.2
11.8
5.5
4.5
197. 6
124.9
119.4
101.5
4.6
13.3
5.4
47.0
22.4
17.6
200.1
126. 3
120.9
103.5
4.1
13.2
5.5
47.2
21.9
18.0
0)
129.7
124.7
107.3
3.9
13.4
5.0
47.3
22.1
17.9
5.5 5.8 (0
7.1 6.9 0)
2.9 2.7 0)
4.3 4.2 0)
-1.7 -1.0 -1.1
.8
.8
.8
22.4
29.0
11.6
17.4
-6.6
3.3
23.3
27.4
10.8
16.6
-4.1
3.3
(0
0)
0)
0)
-4.5
3.4
3.7
17.6
17.0
16.4
54 3 56.5 56.7
37.4 40.2 39.9
4.2 4.7 4.6
22.2 24.3 23.8
11.0 11.2 li;5
7.9 6.6 8.1
2.1 2.4 3.0
.9 1.0 1.4
1.3 1.3 1.6
4.1 4.5 4.5
1.7 -.3
.6
2.1 2.6 1.9
6.9 7.0 6.8
4.6 4.4 4.2
.6
.5
.2
2.9 3.1 2.9
223. 1
158.0
18.5
95.3
44.2
29.4
10.3
4.4
5.8
16.5
2.7
8.3
27.4
18.2
2.2
11.4
229.1 232.3
162.0 166.0
19.2
19.9
97.8 100.0
45.0 46.1
29.1 30.4
10.4
9.6
4.1
4.8
5.5
5.6
18.0
18.0
1.5
2.0
10.5
7.7
28.2
27.5
17.4
16.7
.9
1.8
11.9
12.5
Personal income
47.1 48.2 49.7
8.7 4.0 4.6
Less: Personal tax and nontax payments
Federal
8.1 3.5 4.2
.4
.5
State and local
.5
38.4 44.2 45.0
Equals: Disposable personal income
Less: Personal-consumption expenditures . ... 37.4 40.2 39.9
Equals: Personal saving
1.0 3.9 5.2
190.9
21.2
19.4
1.7
169.7
158.0
11.7
192.3
21 A
19.6
1.8
170.9
162.0
8.9
223.1
11.9
17.2
.5
-4.2
229.1
12.1
17.3
.5
-.7
I
II
III
NATIONAL INCOME BY DISTRIBUTIVE SHARES
National income-.
Compensation of employees
Wages and salaries
Private
Military
. _
Government civilian
_
Supplements to wages and salaries
Proprietors' and rental income 2
_
Business and professional
Farm
Rental in come of persons.
Corporate profits and inventory valuation adjustment. ._Corporate profits before tax
Corporate-profits tax liability- _ _ Corporate profits after tax..
..
Inventory valuation adjustment
Netinterest.. .....
Addendum: Compensation of general government employees
4.5
4.4
GROSS NATIONAL PRODUCT OR EXPENDITURE
Gross national product
Personal consumption expenditures
...
Durable goodsNondurable goods
Services
Gross private domestic investment
New construction
Residential nonfarm.. .
Other
Producers' durable equipment
Change in business inventories
Net foreign investment
Government purchases of goods and services. _
Federal
Less: Government sales
State and local
DISPOSITION OF PERSONAL INCOME
200.4
21.7
19.9
1.9
178.7
166.0
12.7
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 pavments
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 pavments
Equals: Personal income
54.3 56.5 56.7
3.0 3.0 3.1
4.2 4.3 4.5
.1
.1
.1
-2.0 -1.1
0)
-.0
0)
-.2
197.6
232.3
12.2
17.6
.5
C1)
2 -.1
200! 1 (0
5.5 5.8 (0
1.5 1.5 1.3
.0
.0
.0
2.6 2.5 3.3
1.1 1.3 1.0
1.4 1.6 1.5
.1
.1
.1
47.1 48.2 49.7
22.4
5.9
.0
10.4
4.5
6.2
.5
190.9
23.3
5.9
.0
10.1
4.5
6.3
.5
192.3
-.0
48.9
.0
50.2
C1)
5.2
.0
13.7
4.6
6.5
.5
200.4
12 Not available.
Includes noncorporate inventory-valuation adjustment.
Source: U. S. Department of Commerce, Office of Business Economics.
5. Owing to the absence of information on corporate
profits, complete data on national income in the third quarter
are not yet available. But it is clear that the outstanding
change was the rise in private pay rolls, due to a large extent
to wage-rate increases which took effect in the third quarter
or whose full effect was reflected in the third quarter for the
first time. Comprehensive data on hourly earnings covering
all private pay rolls are not available, but information on
pay rolls accounting for two-thirds of the total, and including
manufacturing, mining, construction, trade, and the railroads
indicates that 75 percent of the third quarter increase in pay
SUKVEY OF CURRENT BUSINESS
November 1947
rolls in this group was due to increases in average hourly
earnings. These increases contributed significantly to disposable income and to consumer purchasing power.
Leave Bond Cashing Raises Third Quarter Savings
Another substantial addition to disposable income and
purchasing power arose from the cashing of terminal leave
9
bonds at the annual rate of 3.5 billion dollars in the third
quarter. Since the cashing occurred during the final month
of the quarter, it is largely reflected in an increase in personal
saving. Insofar as the proceeds are spent in October or
later, the figures do not show the final allocation of these
funds to saving, including the repayment of debt, and to
consumption.
Transitional Savings Patterns of Individuals
Recent savings estimates indicate that aggregate liquid
asset holdings of individuals are continuing to mount, though
at a slower pace than prevailed last year. Savings out of
current personal income has dropped from the abnormally
high rate of one-fifth or more reached during the war under
conditions of price control, rationing, and war bond drives,
to a figure more in line with the usual peacetime relationship.
It was down to an avefage of 6 percent in the first three
quarters of 1947, or riot far out of line with the percentage
prevailing in the prosperous years of the prewar period. In
the third quarter, the rate of savings rose as the cashing
of the terminal-leave bonds gave a temporary stimulus to
personal incomes in the final month of the quarter. A considerable part of these funds will be reflected in consumer
expenditures in the current quarter.
Not only has the current savings rate been affected by the
existence of record savings accumulations, but the distribution of saving and dissaving among various consumer groups
has been influenced by the expansion in the supply of durable
goods, the return of veterans to civilian life, the establishment
of new families and households, and the impact of rising
prices on family incomes. Shifts in liquid asset holdings have
been influenced by an additional set of factors, including
sales and purchases of houses, securities, and other long-term
assets and business investments.
Rise in Liquid Asset Holdings
At the end of 1946, liquid assets in the form of currency,
bank deposits and United States Government securities
held by individuals and unincorporated business amounted
to 184 billion dollars, according to Federal Reserve estimates.
Data for the first half of 1947 indicate a further increase of
about two and one-half billion dollars. In current dollars
the liquid holdings have almost tripled since the end of 1941
and in terms of purchasing power have more than doubled.
Of the 1946 total, personal liquid asset holdings of individuals aggregated 157 billion dollars. This figure represented an increase of almost 10 billion dollars over the amount
held at the end of the preceding year, and compares with 55
billion dollars at the time of Pearl Harbor. Holdings of
individuals for business purposes, on the other hand, remained relatively constant during 1946. As businesses
dipped into their cash in order to make capital outlays or to
finance inventory expansion, the net effect was a shift of
liquid assets from business to individuals.
Assets Influence Consumer Spending
The continued existence of large accumulations of liquid
assets in the hands of individuals has contributed to the
postwar strength of consumer demand. The results of
sample surveys of consumer spending units conducted by the
Board of Governors of the Federal Reserve System show that
the rise in liquid asset holdings has been accompanied by an
increase in the proportion of consumers making use of liquid
asset balances. Furthermore, while a proportion of consumers typically spend more than their current incomes—in
other words, dissave—during any one year by drawing down
their liquid or nonliquid asset holdings or by going into debt,
764720°—47
2
this proportion also has increased since the end of the war
because of the reasons for increasing expenditures outlined
above.
To illustrate, the 8-billion dollar increase in liquid assets
in 1946 indicated by the second annual Federal Reserve
survey of consumer spending, represented a 10-billion dollar
decline in liquid assets among those that reduced their holdings of such assets, and an 18-billion dollar increase among
those that increased their holdings. In terms of spending
units, 42 percent reported decreases in holdings of Government savings bonds and bank deposits during 1946 while 38
percent reported increases in their holdings. By comparison,
30 percent of the spending units reduced their holdings in
1945 and 50 percent increased their holdings. In other
words, the number of spending units which reported decreases
in liquid asset holdings in 1946 was somewhat larger than the
number which reported increases. The average amount of
decrease, however, was considerably less than the average
amount of increase; otherwise, total liquid assets could not
have increased in 1946.
Purposes of Withdrawals
Since the large volume of liquid assets held by individuals
can readily serve to supplement current income in sustaining
high durable goods expenditures and general industrial
activity, it is of interest to determine the use to which such
funds were put. This varied from the purchase of houses
and automobiles to meeting medical care and rising living
costs.
Of the total amount of reduction in liquid assets, the
Federal Reserve survey results show that two-fifths were
used for living expenses, medical care and other like purposes; two-fifths for consumer durable goods, including
housing; and one-fifth for investment purposes. In terms of
numbers of spending units rather than of dollar amounts,
almost three-fifths of those dipping into their liquid asset
holdings—or about a fourth of all consumer units—reduced
their asset holdings in order to meet current consumption
expenditures.
The Federal Reserve survey indicates that the purpose of
withdrawal of liquid assets was clearly associated with size
of income groups. Thus, of all those drawing upon their
savings, 57 percent reduced their liquid assets to meet living
expenses, but in the income groups under $2,000, 67 percent
withdrew assets for this purpose. In the income group from
$2,000 to $5,000, 55 percent reduced their liquid assets for
general living expenses, while among consumers earning
more than $5,000, 34 percent used assets for this purpose.
An important factor in the volume of dissavings was the
bunching of expenditures by veterans for clothing, housefurnishings and other items as they resumed civilian life.
Veteran spending units comprised one-third of the total
number of consumers that spent more than they earned in
1946, although these were only one-fifth of all spending units.
A stepping-up in retirement by older people in the labor force
was also a factor increasing the prevalence of dissaving in
1946.
SUEVEY OF CURRENT BUSINESS
10
November 1947
Chart 8.—Percentage Distribution of Spending Units in Each Income Group, by Type of Saver, 19461
PERCENT OF SPENDING UNITS
100
PERCENT OF SPENDING UNITS
100
POSITIVE SAVERS */
ZERO SAVERS
NEGATIVE SAVERS
75 -
75
-
«.
50 -
-
50
\,
25
0
o
I
a:
UJ
0
1
CvJ
0>
05
°J.
ro
a
o:
UJ
>
I
^r N" 0
i i w
8 0o oo
Of
^-
«»
O
O
O
O)
O
CD
O
CD
CD OC.
CD UJ
N-S
CO
O
O
O
C^ IO^
10 N-"
</>•
CD
O
O
O
O
"
<A
I
o
o
8
88
O
O ID
7 *
o o
o o
I
8
q,
q.
OJ
INCOME GROUPS S/1
2
Width of bars represents the percent that the number of spending units in each income group is of the total number of spending units.
Spending units with money incomes in excess of expenditures.
34 Spending units with expenditures in excess of money incomes.
Less than one-half of 1 percent.
* Based upon annual money income before taxes.
Source of data: Board of Governors of the Federal Reserve System.
Positive and Negative Savers
It is possible to classify consumer units according to
whether they spend more or less than their income, or as much
as their income, by taking into account changes in consumer
indebtedness, net sales or purchases of houses^and securities,
payment of life insurance premiums, etc., in addition to
changes in liquid assets. In 1946, consumers that spent less
than their incomes (i. e., positive savers) represented 65 percent of all spending units, while consumers that spent more
by using past accumulations or borrowing (i. e., negative
savers), were 27 percent of all units.
Chart 8 illustrates that during the year 1946, negative
savers were mainly concentrated among the income groups
earning up to $3,000. The width of the bars indicates the
relative importance of the number of spending units in each
income class to the total "number of spending units. In the
income groups up to $3,000, representing about two-thirds of
all spending units, roughly one-third of the spending units
were negative savers. But more than two-fifths of those
with incomes under $1,000 and three-fifths of those with
incomes ranging from $1,000 to $2,000 had positive savings.
As shown in the chart, the number of negative savers decreases in the income groups above $3,000. Similarly, spending units whose saving position was unchanged were mainly
located in income groups up to $2,000. The panel showing the
distribution of positive savers by income groups illustrates
the rising proportion of savers in succeedingly higher income
groups.
Shift in Savings Composition
Postwar additions to liquid savings have taken forms
distinctly different from the wartime pattern, when United
States Government bond purchases were predominant (table
2). For the most part, current personal liquid savings are
being made in the form of time and demand deposits. In
1946, however, time and demand deposits accounted for
almost the entire increase of 10 billion dollars in personal
holdings of liquid assets compared with 1944 and 1945 when
United States Government security holdings were nearly onehalf and one-third, respectively, of total additions to assets in
these years. Additions to currency holdings were negligible
in 1946.
Net purchases of United States Sayings bonds increased in
the first quarter of 1947, but "limit" buying in the early
months of the year was a factor. In the second quarter of
1947, series "E" bond purchases approximated redemptions,
although the volume of series "F" and "G" savings bonds
outstanding continued to increase, advancing 400 million
dollars. These additions are small when related to wartime
buying. Time deposits accumulated steadily in the first
half of 1947, with individuals saving 1.7 billion dollars in this
form—while demand deposits, which had fallen in the first
quarter because of tax payments, rose again in the second
quarter.
Table 2.—Annual Additions to Personal Holdings of Liquid Assets
[Billions of dollars]
Type of asset
C urrency
Demand deposits..
Time deposits
U. S. Government securities
Total
194,5
1944[
194 0
194(
PerPerPerPerAmount cent
Amount cent
Amount cent of Amount cent
of
of
of
total
total
total
total
0.7
.7
.6
26.9
26.9
23.1
.6
23.1
100.0
2.6
3.9
3.6
6.6
14.5
13.4
24.5
12.8 47.6
26.9 100.0
10.0
18.9
33.3
4.6
5.0
47.4
51.5
9.4 37.8
24.9 100.0
.1
9.7
.1
100.0
2.5
4.7
8.3
Source: Board of Governors of the Federal Reserve System.
The shift in the composition of additions to liquid asset
holdings is partly the result of the postwar reduction in the
(Continued on p. 24)
Consumer Credit in the Postwar Period
By L. F. McHugh
One of the major expansionary forces in the postwar
economy has been the large increase in consumer expenditures for goods and services. This increase has been made
possible not only by the large postwar advance in the
spendable incomes of consumers but also by the steady decline in savings from the abnormally high wartime rate.
The high wartime savings resulted in a large increase in the
liquid assets of individuals to which reference is made in an
earlier section of this issue.
The reduced disposition to save has taken three primary
forms: (1) Some individuals merely reduced the rate of
savings out of current incomes; (2) others have actually
liquidated some of their assets to buy goods; and (3) still
others have resorted to borrowing as a method of settling
for their purchases.
The present article is primarily concerned with the third
of these developments; that is, with the role of consumer
credit in the current and prospective demand for goods and
services. This subject is particularly timely because of the
expiration of the last wartime controls on consumer credit
on the first of November, in accordance with the resolution
of Congress approved on August 8, 1947.
The extensive system of consumer credit controls embodied in the terms of "Kegulation W" and administered by
the Board of Governors of the Federal Reserve System, was
introduced in September 1941 as part of a program to contain
inflationary pressures and to aid in channeling resources into
vital war industries. Following the end of the war, there
was some relaxation of credit controls, but the major part of
the system was retained by continuing controls on installment credit. This was considered necessary in view of the
continued scarcity of these goods and the general pressure on
prices still existing in the postwar situation.
The recent lifting of restrictions on consumer credit will
tend to accelerate the rate of credit extension. In order to
assess the credit position of consumers at the present time, it
is helpful to review the wartime and recent postwar changes
in consumer credit and to place these changes in perspective
by relating them to credit developments before the war when
the economy experienced wide swings in business activity.
years, as a result both of the greatly reduced flow of goods
usually bought on installment, and of the imposition of wartime controls. The resumption of production of consumer
durable goods provided the basis for the rapid postwar
advance in installment credit. That the volume of credit
of this type is still below the prewar amount is largely the
result of restricted output of major durable goods and of
the continuance of Government credit regulations until this
month.
While controls were also in effect on the various types
of noninstallment credit, the wartime contraction in these
areas was less extreme, because of the continued expansion
of dollar sales of semidurables, soft goods, and services, for
which these types of credit are generally used. Aided by
continued sales expansion, noninstallment debt rose sharply
after VJ-day and is at the present time well above prewar
levels.
Table 1.—Consumer Credit Outstanding, Selected Periods, 1929-47 *
[Millions of dollars]
WarHigh of Depres- RecovYear
Curery
time
20's
sion
ago
rent
high
low
(Delow
(Sep(Sep
(Sep- (Febru- tember
cember (July tember
tember
ary
1929)
1933)
1946)
1947)
1941)
1944)
Total consumer credit. - _
Instalment credit
Sale credit
Cash-loan credit
Charge account sale credit
Single payment loans
Service credit _ - _ _ _ _ . _
_____
_ _
7,637
3 167
2 515
652
1,749
2,125
596
3 633 10, 107
1 492 6 248
1 015 4,007
2,241
477
1 712
903
1,549
777
461
598
4,832
1 803
705
1,098
1 218
1,114
697
8 643
3 288
1 177
2 111
2 495
2 000
860
11 434
5 298
2 254
3 044
2 859
2 350
927
1
Data are for end of month shown.
Source: Board of Governors of the Federal Reserve System
Chart 1.—Consumer Credit Outstanding, End of Month
BILLIONS OF DOLLARS
121
-
Record Volume of Consumer Credit
The volume of consumer credit outstanding at the end of
September was at the record amount of 11.4 billion dollars,
6.6 billion above the wartime low in early 1944 and 1.3 billion
dollars higher than the prewar peak reached in September
1941. All major types of consumer credit shared in the postwar gain, although some types have not yet recovered to
prewar volume. In appraising the absolute totals of outstanding credit, the large increase in the national product
and the advance in the general price level should be borne
in mind.
As is illustrated in chart 1 and table 1, the largest percentage gain in the postwar period has occurred in installment
credit. This type of credit—typically the most volatile of
all the types—underwent a marked reduction in the war
NOTE.—Mr. McHugh is a member of the Current Bus'ness Analysis Division, Office of
Business Economics.
JERVIGE CREDIT ^
1929 30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
46
Source of data: Board of Governors of the Federal Reserve System.
11
47
47-411
12
SURVEY OF CURRENT BUSINESS
The lagging of installment credit relative to other types is
also apparent from chart 2. By September, installment
credit had risen to 46 percent of the total, a slightly higher
share than in 1929, but still substantially below the peak in
1941, when this type of credit accounted for 63 percent of
total outstandings.
November 1947
Chart 2.—Percentage Distribution of Consumer Credil
PERCENT
100
PERCENT
100
Shift in Method of Installment Financing
Although total installment debt is still below prewar
volume, there has been a marked shift in the method of
installment financing. The figures in table 1 indicate that
installment cash-loan credit (which originates from commercial banks and lending institutions) is currently higher than
before the war, while installment sale credit (which originates with retailers) is substantially lower. Being more
directly tied to the volume of sales of durable goods, out
standing sales credit fell from 4 billion dollars in September
1941 to 700 million dollars in February 1944, during most of
which period new production of the major durable goods was
cut sharply. Cash-loan credit declined from 2.2 billion
dollars to 1.1 billion dollars between these two dates.
As of the end of September, installment sales credit
amounted to 2.3 billion dollars and installment cash-loan
credit to 3 billion dollars. Bank activity in the installment
loan field was of growing importance before the war, but the
volume of installment-loan credit was below the volume of
sales credit until the period of wartime contraction.
Postwar Credit Volume Low Relative to Income
As an aid in appraising the current consumer credit
position, total credit outstanding is shown in relation to
personal incomes after taxes in chart 3. Consumer credit
outstanding at the end of each year is measured along the
vertical axis in the upper panel of the chart and annual
disposable income along the horizontal axis. The points in
the chart cover the years from 1929 to 1947.
In the prewar period the volume of consumer credit
outstanding was closely related to the amount of personal
income after taxes. The line " AB" in the chart, having been
fitted by the method of least squares, expresses the average
relationship between credit outstanding and income during
the 1929-40 period.
While this line "fits" the plotted points rather closely, a
careful examination of the position of the points in the chart
shows that the deviations from the line of regression follow a
systematic pattern which is related to time, i. e., the points
for the earlier years fall below the line and those for the
later years fall above. This pattern is illustrated in the lower
panel of the chart, where the deviations are plotted against
time in order to depict the growth factor in the trend of credit
in the thirties. The steady widening of the market for credit
resulted from the entrance of new firms into the field and
from increased competition which fostered the trend toward
smaller downpayments and longer periods of payments.
Underlying this situation in the thirties was the fact that
output could expand if profitable sales could be made. At
the present time, a very different supply situation exists for
passenger cars and other major durable goods.
The average relationship in the prewar years can be expressed as follows: A change of 10 billion dollars in the
amount of disposable income was, on the average, associated
with a change of 1% billion dollars in the amount of credit
outstanding. In addition, the growth factor accounted for
an average increase of 180 million dollars a year.
During the war years until 1944, the volume of consumer
credit moved counter to the prewar pattern, declining while
income rose. After reaching a low point early in 1944, the
volume started to rise, at first slowly and then, after VJ-day,
192931 33 35 37 39 41 43 45
-«—
END OF YEAR
*-
1946
—
END OF MONTH
1947
47-473
Sources: Basic data, Board of Governors of the Federal Reserve System; percentages,
computed by U. S. Department of Commerce, Office of Business Economics.
at an accelerated rate. The post-VJ-day upsurge in credit
outstanding was the most rapid on record for any period ;of
comparable length.
Nevertheless, the total volume of credit outstanding at
the present time is far below the amount indicated by an
extension of the prewar relationship shown in the chart.
The validity of this relationship, however, merits examination; as explained below, one should not expect the prewar
relationship to prevail either now or in the near future,
despite the elimination of credit controls.
Limitations on Use of Prewar Relationship
Prewar credit-income relationships can be used only sparingly and with caution in analyzing the postwar credit
situation. As is the case with practically all analyses which
attempt to make use of prewar relationships in interpreting
the postwar situation, it is necessary to extend the prewar
relationship far beyond the range of observation for the
actual points used in fitting the regression line. In the case
at hand, for example, disposable income in the first half of
1947 was at a rate of about 170 billion dollars, whereas the
upper limit of actual range of observation for the prewar
period is 82.5 billion dollars in 1929.
In the present case, moreover, several factors can be cited
which point to a significant modification of the prewar relationship, at least insofar as the near-term outlook is concerned. Although the limited supplies of durable consumer
goods at the present time can be ascribed for the most part
to production difficulties incident to the postwar transitional
period, it is nevertheless apparent that these supplies cannot
be expected to expand within the near future by the amounts
that would be needed to support a credit expansion of the
magnitude implied in the prewar credit-income relationship,
assuming, of course, that prices of these goods do not advance
out of all proportion to the general price level. The situation in automobile installment sales credit is a case in point.
Approximate computations presented below indicate that
automobile dealers' sales would have to advance almost to
SURVEY OF CURRENT BUSINESS
Kovember 1947
two and one-half the present level in order to raise automobile installment credit to the amount yielded by the prewar relationship, assuming prewar experience as to the proportion of credit sales to the total.
Borrowing vs. Use of Liquid Assets
A further qualifying factor to be considered with reference to the implications of the prewar credit-income relationships for analysis of the current situation is the changed
liquid asset position of consumers since before the war. At
the present time, personal holdings of these assets total in
the neighborhood of 160 billion dollars, as compared with
1939 holdings of less than 50 billion dollars. In terms of
per capita hodings, the rise has been from less than $400
before the war to over $1,100 at present. In the $2,000 to
$3,000 income group, for example, median
holdings of liquid
assets amounted to $480 in early 1947.1 This income group,
with about one-fourth of total income in 1941, accounted for
about half of the net expansion of installment credit in that
year.
Opinion differs on the question of whether individuals
holding bonds or bank deposits will consider these assets as
substitutes for credit. It was found in the survey studies
recently made that many individuals said that they were
putting their assets away against future contingencies, such
Chart 3.—Relationship Between Consumer Credit, Disposable Personal Income, and Time l
201
CONSUMER CREDIT
RELATED TO DISPOSABLE
PERSONAL INCOME
15
UJ o
a:
o
o°
10
ll
13
as the proverbial "rainy day," or old age, and that they did
not consider their accumulations as preparation for the purchases of goods which were necessarily deferred during the
war.2
As those who conducted the surveys were well aware, it is
difficult to determine whether the stated motive for savings
was real or merely a rationalization. Even if the real
intention is to hold past savings for contingencies, it is
important to know whether the assets will continue to be
held when the owner desiring to purchase, say, an expensive
durable good is faced with the actual decision to use some of
his liquid assets or to borrow money.
Credit Use Restricted by Controls
The current low volume of consumer credit relative to
income is traceable not only to the limited supplies of durable consumer goods and to the existence of large savings
accumulations, but also to the effects of regulation W.
Since December 1946, this regulation has applied only to
installment credit. The typical prewar terms for major
durable consumer goods which are largely bought on installment credit, are compared in table 2 with the minimum
downpayments and maximum maturities permitted under
the war and postwar credit regulations. The only change
between the war and postwar provisions for the goods listed
in the table was the lengthening of the contract period from
12 to 15 months for items other than automobiles.
The alteration of terms of lending under the credit control
regulation was largest for such items as refrigerators, vacuum
cleaners, sewing machines, and furniture. The down payment requirements for these purchases were considerably
higher under the wartime regulations than was the practice
before the war and the length of contract was shorter. In
the case of new automobile credit, the effect of regulation has
been in the direction of a somewhat shorter contract maturity.
In the case of radios and phonographs, the requirement of
larger down payments was the more important effect.
Differential Behavior Among Components
The low position of total consumer credit outstanding
relative to current income can be better understood by noting
the relation of the various types of credit to income. In an
examination of the behavior of the components of the consumer credit total during the war and postwar years, it is
possible to distinguish between three categories of goods
® YEARS OMITTED IN DERIVING
REGRESSION LINE.
40
80
120
160
200
DEVIATIONS FROM "AB"
(BILLIONS OF DOLLARS)
1
+
Oi
O
Oi
DISPOSABLE PERSONAL INCOME (BILLIONS OF DOLLARS)
Table 2.—Terms on Installment Sale Credit: Prewar, Wartime, and
Postwar
DEVIATIONS FROM NET
REGRESSION "AB" RELATED
TO TIME
Typical prewar
May 1942 to December 1946 i
December 1946 to
October 1947 i
MiniMinimum MaxiDownmum
Maxipayment 2 Contract down-paymum
downmum
(per- comtract payment contract
(percent maturity 3 ment
cent of
of sales (months)
maturity
(percent
maturity
basis
price)
basis (months)
price) 4 (months) of
price) 4
c
i
I I I I I I l
i
i
i
I i
i
I I I I
1929 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47
47-47*
1
Data for disposable personal income are total for the year through 1946; figure for 1947 is
total for the first 6 months, seasonally adjusted, at annual rate. Data for consumer credit
represent the amount outstanding at end of year through 1946; figure for 1947 is an estimate
for the amount of credit outstanding at end of September adjusted, by the U. S. Department
of Commerce, Office of Business Economics, for comparability with end-of-year data for prior
years. This adjustment is necessary since there is a substantial seasonal increase in credit
outstanding from September to December. The lines "AB" and "CD" are derived from the
equation, Y=—1607+125X+183t, where Y=calculated consumer credit (in millions of dollars),
X=disposable personal income (in billions of dollars), and t=year—1935. The equation is
derived by the method of least squares using income and credit data for the years 1929-40.
Sources of data: Consumer credit, Board of Governors of the Federal Reserve System;
disposable personal income and calculations, U. S. Department of Commerce, Office of Business Economics.
i See "Survey of Consumer Finances," Federal Reserve Bulletin, July 1947.
New automobiles
Refrigerators
Radios, phonographs
Vacuum cleaners .
Sewing machines
Furniture
!(/
10
10
10
10
18
24
12
18
18
18
I
15
12
12
12
12
12
33^
33 H
33^
20
15
15
15
15
15
15
1 Under the terms of regulation W of the Board of Governors of the Federal Reserve System.
2 Percent of sale price for largest volume of sales.
34 Maturity for largest volume of sales.
Basis price in the case of automobiles is the sales price; in other cases, it is the sales price
minus the allowance for an article traded in.
Source: For typical prewar terms see Duncan McC. Holthausen, "Monthly Estimates of
Short-Term Consumer Debt, 1929-42," Survey, November 1942, table 3.
2 See, for example, the discussion by George Katona, "Contribution of Psychological
Data to Economic Analysis," Journal of American Statistical Association, September 1947.
14
SURVEY OF CURRENT BUSINESS
which are important in credit sales: Automobiles, consumer
durable goods other than automobiles, and general merchandise and apparel.
The largest single area for further credit expansion appears
to be in the field of automobile installment sale credit.
With disposable income almost doubling between 1941 and
1947, the volume of automobile installment sale credit outstanding at the end of September of this year was only about
one-half as large as at the end of 1941. Following the reconversion of the industry, automobile sales and associated
credit expanded rapidly, but since incomes were likewise
expanding, there was only a slight "catching up" of credit.
November 1947
Chart 4.—Charge-Account Credit Outstanding, End of
Year 1
BILLIONS OF DOLLARS
4
EXTENSION OF 1929-40
Factors in Automobile Sales Credit Lag
Only since early 1947 has the dollar volume of sales of
automobile dealers reached the prewar level. Since it would
take approximately 15 months for all credit outstanding to
reflect fully the current rate of credit sales, further additions
to outstandings will occur even if sales were continued at
the present rate. To illustrate this point, when new credit
is extended on a "15-months-to-pay" basis at a constant
rate a month, 86 percent of the total increase to eventuate
from such a rate of new credit creation will have appeared
by the ninth month, the remaining 14 percent being spread
over the final 6 months.
It may also be pointed out that current automobile sales,
while above prewar, are still low relative to incomes because
of relatively low output. Hence, as output and sales move
into closer relationship with incomes, there will be a further
addition to credit outstanding.
It is fairly clear, however, that neither a liberalization of
credit terms nor an expansion of sales will make up the
"gap" indicated by any calculation based on the prewar
relationship to income. This conclusion can be supported
by pointing out 7that, on the basis of "one-third down, 15
months to pay/ credit sales of automobile dealers would
have to rise to about 840 million dollars a month if this
type of credit were to equal the calculated amount. Even
on the assumption that credit sales were to increase to the
prewar ratio of 50 percent of total sales, the calculations
would imply total cash and credit sales of automobile dealers
amounting to about 1.7 billion dollars a month, as compared
with the September figure of 750 million dollars.
Nonautomotive Installment Sale Credit Also Lags
The amount of nonautomotive installment sale credit
also is low relative to current income. In this case, however,
there are two underlying differences as compared with the
automotive credit situation. In the first place, whereas
sales of automobile dealers are below the level indicated by
the prewar sales-income relationship, sales of other durable
goods are fairly well in line with prewar sales-income relationships. Secondly, the wartime borrowing terms were much
more restrictive on nonautomotive than on automotive
credit. This has already been noted in the discussion of
table 2. The relative importance of these opposing influences is uncertain.
Shift in Form of Installment Financing
The current volume of installment sales credit is affected
by the accelerated shift from installment sales credit to
installment cash loans during the war period—a shift which
was described in a previous section of this article. Even
in the installment loan area, however, outstanding volume
is below what might have been expected on the basis of
current income and long-term growth, so that the shift in
form of installment financing has not offset the full effects of
credit control and limited supply of durables.
• CALCULATED
i r t i
I I I
I
I
I
I
I
I
I
I
I
1929 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47
47-479
i "Actual" figure for 1947 is the amount outstanding at end of September, adjusted by the
U. S. Department of Commerce, Office of Business Economics, for comparability with end-ofyear data for prior years. This adjustment is necessary since there is a substantial seasonal
increase in this type of credit outstanding from September to December. Data for "calculated" are based upon the equation, Y=+257+18x. Units for the variables, years included,
and method used in calculating the equation are the same as stated in footnote 1, chart 3.
Sources of data: "Actual," Board of Goveraorsof the Federal Reserve System; "calculated,"
U. S. Department of Commerce, Office of Business Economics.
Evidence of Less Buying on Credit
At first glance chart 4, which relates to charge account
credit, appears to present a picture which is sharply at variance with the general credit situation which has been
described so far, since actual outstandings and calculated are
about equal at the present time. Several reasons for the
coincidence of the two lines readily come to mind. Not only
has charge account credit been free of controls since December 1946, but most merchandise bought on charge accounts
is in relatively plentiful supply, and has been so almost
throughout the war and postwar period.
Actually, an analysis of the charge account-income
relationship suggests a greater disposition of consumers to
pay cash for their purchases today as compared with prewar.
The fact that the two lines coincide in the chart is explained
by the fortuitous occurrence of two offsetting influences:
One, the greater disposition to pay cash, and two, the
unusually high volume of sales of the kinds of goods typically
bought on charge accounts. Sales at both general merchandise and apparel stores in the third quarter of 1947 were
above the amounts indicated by prewar sales-income
relationships. The limited supplies of passenger cars and the
continuance of rent controls undoubtedly account for a part
of this sales bulge.
Direct evidence of the reduced use of charge account facilities is currently available for department stores. In the first
9 months of 1947 charge account sales at these stores accounted for 38 percent of total sales. In contrast, in the
similar period in 1941 the proportion amounted to 43 percent.
Thus, while department store cash sales rose by 150 percent
from 1941, the expansion in charge account sales amounted
to 90 percent. The proportion of charge account to total
sales was 32 percent during 1944 and 1945 when regulation
W prevented stores from granting new credit to persons who
had not paid for purchases by the 10th day of the second
calendar month after purchase.
November 1947
SUEVEY OF CURRENT BUSINESS
Changes in Terms Will Affect Installment Credit Volume
The area of potential credit expansion in the period ahead
is largely centered in the installment field partly because of
an expected expansion in sales of passenger cars, refrigerators,
and household appliances, and partly because of the effects
of regulation W. Termination of this regulation on November 1 will encourage the relaxation of credit terms and thus
result in some expansion in the volume of installment credit
outstanding,
For purposes of orientation, chart 5 presents in diagrammatic form the effect of relaxing down payment and maturity
requirements. In order to isolate these effects, credit sales are
assumed to be constant, not only over the time period shown
in the chart but over the preceding 15 months as well. In
this earlier period, it is further assumed that installment
credit purchases were made on the basis of one-third down
and 15 months to pay. Thus, with no change in terms and
sales, there would be no further expansion of credit outstanding over the period shown in the chart, as repayments on old
loans would match new loans made. This is shown by line A.
If at the start of the period shown, down payments required were reduced from one-third to one-fifth—line B—
outstandings would immediately expand. Although the
full effect of the change—a 20-percent increase on outstandings—would not be felt for 15 months, the bulk of the
increase would occur relatively early in the period. For
example, the increase would have amounted to over 10
percent by the fifth month and 15 percent by the eighth
month following relaxation.
The impact of lengthening contract maturities to 24
months, while leaving down payments the same, is shown by
line C. In this instance, the achievement of the full expansionary effect on credit is delayed to a greater extent. In
the example cited, by the sixteenth month outstandings will
have risen by about 40 percent, but an additional 16-point
rise would follow in the succeeding 9 months, making a total
rise of 56 percent over the 24-month interval.
The combined effect of these two changes in down payment and length of contract is depicted by line D. It is
clear that credit outstanding would be practically doubled
with these assumptions, with the increase spread about
equally over a 2-year period.
The assumptions underlying chart 5 were chosen for
illustrative purposes only, and were not contemplated as
forecasts of terms likely to ensue following the expiration of
controls. It may be pointed out, for example, that an
implicit assumption in the chart is that any change in terms
of lending would be made simultaneously by all lenders. In
actual practice this would very probably not take place.
The establishing of any typical pattern of postwar terms
will be achieved only gradually, as the forces of competition
among lenders take time to operate. As a result, the effects
of a relaxation of terms of lending will, in actuality, require
more time to be reflected fully in the volume of outstandings
than the time period shown in the chart.
The assumption that credit sales remain constant would
also not apply to any actual situation, since relaxation of
terms would undoubtedly lead to a larger volume of credit
sales and, hence, to a higher volume of outstanding credit.
It may help to summarize the above discussion if we
make a rough calculation of the potential credit expansion
which would be associated with a return to the typical prewar terms of installment credit. The method used in calculating the curves shown in chart 5 can also be used to
derive percentage changes in amounts outstanding on the
simple assumption that wartime terms of borrowing are
replaced by prewar terms. When these percentages are
applied to the various types of installment credit outstanding,
15
an aggregate increase of about 2 billion dollars is indicated.
This increase, which makes no allowance for an increase in
the volume of installment sales, would be spread over a
year and a half period. Thus, the increase in the amount of
installment debt outstanding would be at a rate of about
100 million dollars a month. Total installment credit outstanding is estimated at 5.3 billion dollars as of the end of
September.
These magnitudes are at best rough approximations of the
effect of a return to prewar installment terms. On the one
hand, it would appear likely that the actual expansion in
installment debt will be substantially less than these amounts,
since it is not probable that credit agencies will rapidly
revert to prewar conditions of sales credit or loans. Moreover, borrowers may be less inclined to demand such liberal
terms in view of their substantially improved savings condition as compared with prewar. On the other hand, the
relaxation of terms may stimulate increased installment
credit sales. Some further credit expansion will occur
merely because of the growth still to be realized from the
upward trend of credit extended in the past year and from
the steadily improving supply of various durable goods.
Effects of Credit Expansion
In the past, changes in consumer credit have contributed
to the development of general business trends, reinforcing
consumer purchasing power in the rising phase and adding to
the cumulative pressure on the downside in the declining
phase. Owing to the unusual position of consumer credit at
the end of the war, the postwar credit expansion has been
very rapid, but from a low base.
(Continued on p. 24)
Chart 5.—Illustrative Calculations of Changes in Volume
of Consumer Credit Outstanding as a Result of Modifications of Terms of Installment Selling, With Sales
Held at a Constant Rate l
INDEX
200
INDEX ^
1200
150
150
100
100
A.- DOWN PAYMENT AND CONTRACT MATURITY UNCHANGED
OVER THE PERIOD AT 1/3 DOWN, 15 MONTHS TO PAY.
B. - DOWN PAYMENT REDUCED TO 1/5, MATURITY HELD
AT 15 MONTHS.
50
50
C. - MATURITY LENGTHENED TO 24 MONTHS, DOWN
PAYMENT HELD AT 1/3.
D. - DOWN PAYMENT REDUCED TO 1/5, MATURITY
LENGTHENED TO 24 MONTHS.
n l I I I I I I I I I I I I I I I I I I I I I I !!
0
5
10
15
20
-«
NUMBER OF MONTHS
I In
25
»-
47-489
1 The computations assume that installment sales have been held at a constant rate for at
least 15 months prior to the period illustrated in the chart. It is further assumed that all sales
are made according to the specified terms of borrowing.
2 Amount of credit outstanding for the initial month shown is taken as 100. Terms on this
credit are assumed to be Yz down, 15 months to pay.
Source of data: U. S. Department of Commerce, Office of Business Economics.
Financial Trends of Large Manufacturing Corporations, 1936—46
By K. C. Stokes
At the end of 1946, the combined assets of 1,000 large
manufacturing corporations amounted to 53.5 billion dollars.
The same manufacturing concerns held assets totaling 51.0
billion dollars in 1945 and 55.1 billion in 1944. Their sales
volume in 1946 aggregated 59.9 billion dollars, compared
with 71.6 billion in 1945 and 80.6 billion in 1944.
The year 1944 was a peak year for these 1,000 corporations
in both assets and sales—a counterpart of the experience
reported by the total of all manufacturing corporations
when war production was at its height.
Modern industrial technology, for the most part, requires
integrated plants using mass-production methods and, therefore, large manufacturing units have long occupied an important place in American industry. During the war they
played a very significant role in the prodigious output of war
materiel, and in the maintenance of a high volume of output
of consumption goods at the same time. This article, reviewing the financial experience of 1,000 large manufacturing corporations over the 11-year period that ended with
1946, is an extension of a previous survey which provided
data through 1943 on the same group of corporations.1
These corporations compose a prominent sector of our
productive system. They hold, for example, over half of all
manufacturing assets and account for close to half of the
total dollar sales of corporate manufacturers. Changes in
their financial operations have, therefore, important economic significance.
revealed by corporations in specific size-groups at a given
time. Thus, in general, the term "200 largest" relates to
the largest as measured by size of total assets in 1939. In a
later part of the analysis, however, various financial items
are summarized for the years 1939 and 1946, showing comparative data for the 200 largest selected by size of assets
in each of the respective years (see table 6).
In evaluating the importance of changes indicated by the
statistical data presented, it should be understood that the
dollar figures are not adjusted for shifts in the price level
which affect the purchasing value of the dollars. The index
of wholesale commodity prices, for example, averaged 57
percent higher in 1946 than in 1939, and the index for manufactured products included in the over-all index averaged 44
percent higher. Clearly, with a declining real dollar, absolute increases and decreases overemphasize and understate,
respectively, the fundamental importance of changes.
As a further caution in interpreting the data of this article,
attention is called to the fact that dollar assets are as reported by the corporations. No attempt has been made to
revalue these assets, despite the substantial rise in replacement costs. Moreover, the profits data are not adjusted for
inventory revaluation except to the extent that corporations
Chart 1.—Total Assets and Sales for Manufacturing
Corporations 1
W( ALL OTHER
HI 800 OTHER LARGE
• 200 LARGEST
Coverage of Data
The group of 1,000 corporations includes the 200 largest
among all manufacturing corporations
(using total assets as
a measure of size) and 800 others 2 whose assets range from
approximately 1 million dollars upward. The latter 800 include corporations operating in all major manufacturing
groups. It is possible from these data to compare the
financial experience of the largest concerns with that of a
selected group of lesser size.
The contribution of the 1,000 corporations to total
corporate
manufacturing, as indicated by total assets and
sales,3 is evident from chart 1. Data for the 1,000 corporations are broken down to show the relationship of the 200
largest to the second group of 800 and to all others.
Like the earlier survey, the primary purpose of this article
is to provide information on the varying financial changes
NOTE: Miss Stokes is a member of the Business Structure Division, Office of Business
Economics.
1 See "Financial Performance of Large Corporations," SURVEY OF CURRENT BUSINESS,
August 1945. Some minor revisions have been made in the statistical data for 1942 and 1943 as
shown in the aforementioned article.
2 The "800 others" are not the 800 corporations next in size to the 200 largest; they include,
however, from 450 to 500 of that group. Selection of the 800 group was made from manufacturing corporations with total assets in 1939 of 1 million dollars or more and with financial
data available from published sources back to 1936. After determining the 200 largest from
the original list, the 800 others were selected so as to obtain a reasonably satisfactory distribution by size and industry. The coverage of the 800 group is, of course, less complete in the
smaller size classes.
3 Sales data as given in this article represent sales as reported by the corporations and are
net of returns and allowances only. They are not adjusted for duplication arising from the
fact that sales of each firm relate not only to the value added by it, but also to the price paid
for the materials purchased from other firms.
16
BILLIONS OF DOLLARS
150
100
BILLIONS OF DOLLARS
150
-
1936
- 100
39
44 45 46
1936
39
44 45 46
47-494
i Total assets hi 1939 were used in making the size distribution of corporations. Data are
on a consolidated basis. Total assets are as of the end of fiscal year. Total assets for all
manufacturing corporations for 1945 and 1946 are tentative estimates.
Sources of data: Total assets for all manufacturing corporations combined are estimates
based on reports of the U. S. Treasury Department, Bureau of Internal Revenue. Total
corporate sales are estimates of the U. S. Department of Commerce, Office of Business
Economics (national income series). Data for the 1,000 corporations are based on reports of
the Securities and Exchange Commission and Moody's Investors Service.
SUEVEY OF CUEEENT BUSINESS
November 1947
17
Table 1.—Changes in Assets of 1,000 Large Manufacturing Corporations
Assets (millions of dollars)
l
2
Percentage change
Item
1936
Total assets:
1,000 corporations, total
200 largest
800 others
Inventories:
1,000 corporations, total
200 largest-..
8 0 0 others
Net capital assets:
1,000 corporations, total
200 largest
800 others _
___
All other assets:
1 000 corporations, total
200 largest
800 others
_.
_ _ _ _ _ _
_
-
_ __
._ _
__
_ _
1939
1943
1944
1945
1946
1939 to 1944 1944 to 1945 1945 to 1946
33, 724
28. 365
5,359
35, 666
29, 994
5,672
54, 319
41,960
12, 358
55, 141
42, 755
12, 386
51, 022
40, 083
10, 939
53, 487
42, 333
11,154
+54.6
4-42.5
+118.4
-7.5
-6.2
-11.7
+4.8
+5.6
+2.0
6, 265
5, 123
1,143
6,785
5,451
1,334
11,393
8, 463
2,930
10, 976
8, 159
2, 817
10, 179
7,748
2,431
13, 155
9,809
3,347
+61.8
+49.7
+111.2
-7.3
-5.0
-13.7
+29.2
+26. 6
+37.7
16, 021
13, 864
2,157
16, 574
14,357
2,217
17, 004
14, 543
2,461
16, 657
14, 278
2,378
15,846
13, 525
2,321
18, 784
15, 782
3,002
+.5
-.6
+7.3
-4.9
-5.3
-2.4
+18.5
+16.7
+29. 3
11,438
9,378
2,059
12, 308
10, 187
2,121
25, 922
IS, 955
6,967
27, 508
20,318
7,191
24, 996
18,810
6,187
21, 547
16, 742
4,805
+123. 5
+99.5
+239. 0
-9.1
-7.4
-14.0
-13.8
-11.0
-22.3
i Selection of the 200 largest and 800 others was based on size of total assets in 1939. Data as of end of fiscal year. Chiefly because of mergers and acquisitions within the original groups
of 1,000 corporations, the 800-group was reduced in number to 792 in 1944, 781 in 1945, and 774 in 1946; the reduction in number of corporations does not materially affect the comparability of
the dollar
figures.
3
Figures are rounded; hence, detail does not necessarily add to totals.
Source: U. S. Department of Commerce; based on data from Securities and Exchange Commission and Moody's Investors Service.
may have used the last-in, first-out method of valuation.
Inventory profits in recent years have been a material factor
in raising the general level of profits.4 Higher costs of
carrying current inventories and other working capital needs
have, of course, absorbed a substantial portion of reported
profits.
Balance-Sheet Changes
The dollar value of gross assets accumulated by large
manufacturing corporations during the period of the last war
reached unprecedented proportions as the whole economy
under the drive of war rose to unmatched levels. As would
be expected, a sharp cut-back in assets followed the close of
the war. In 1946, however, after the major phase of reconversion was accomplished and production for civilian use
was well under way, expansion of assets was resumed.
Table 1 summarizes the prewar, wartime, and immediate
postwar changes in assets of the combined group of 1,000
corporations. Data are presented separately for the 200
largest and the 800 companies of lesser size—a pattern
which is followed generally throughout this article.
The 55.1 billion dollars in assets, reported by these corporations in 1944, was half again as large as the 1939 amount.
Whereas the' relative increase during this period was 42.5
percent for the 200 largest as compared with 118 percent for
the 800 other firms, in terms of absolute data the rise
amounted to 12.8 billion dollars and 6.7 billion, respectively.
The end of the war brought a different pattern of change in
assets than was experienced from 1939 to 1944, when the 800
group had gained ground relatively. From 1944 to 1945,
for example, the reduction in total assets was less pronounced for the 200 than for the 800, and the expansion
from 1945 to 1946 was relatively more in the case of the
former group. Thus, during 1944-46 the wartime tendency
for the 200 to decline in relative importance was no longer
in evidence. Nevertheless, considering the 1939-46 period
as a whole, the gain in assets for the 800 companies remained
substantially greater.
Three important components of total assets are shown
separately in this survey—net capital assets, inventories,
and all other assets. Throughout the entire period, the 800
made greater relative gains in net capital assets and for most
of the period in inventories—categories which ordinarily
comprise from one-half to two-thirds of total assets of the
combined group of 1,000 corporations. The decline generally
experienced by all corporations from 1944 to 1946 in "all
other assets," however, was less for the 200 than for the 800.
* For magnitudes of inventory profits see the National Income Supplement to the SURVEY
OF CURRENT BUSINESS, July 1947.
764720°—47
3
Inventories
Inventories are highly sensitive reflectors of rapid economic
change. They are usually built up sharply in periods of
rising prices and expanding demand, and are liquidated
rapidly in periods of declining business. Liquidation of
inventories, strongly evident at the end of 1945, was followed
by a substantial accumulation in 1946. These converse
trends involved, of course, widely different types of goods.
War materials, for example, were largely responsible for the
change in 1945 as contrasted with civilian goods in 1946.
Despite the sharp increase in 1946, the relationship of
inventories on hand at the end of the year to total sales
during the year, as shown by the composite group of 1,000
corporations, was about the same in 1946 as in 1939—22
percent and 23.8 percent, respectively. This ratio was considerably lower during the war years.
The rise in dollar value of inventories of the group of 1,000
concerns—from 10.2 billion dollars in 1945 to 13.2 billion
at the end of 1946—may be ascribed both to higher costs and
enlarged output. Examination of the statistics of table 1
reveals that the relative inventory decline from 1944 to
1945 was greater for the 800 than for the 200. Inventory
accumulation was much more rapid for the lesser-sized
concerns in the }^ears prior to 1944, however, and was somewhat greater during 1946.
Capital Assets
Dollar figures on net capital assets—which include buildings, machinery and equipment, and land, less depreciation,
etc.—fluctuate far less widely than those for inventories.
This is true, in particular, for the w^ar years of sharp advance
in the price level.
As is well known, additions to plant during the war were
largely specialized, or at least were made with the primary
objective of turning out war-needed products. These warrelated plant
additions were substantially offset on the corporations7 books as a result of the provision in 1942 that
new plant and equipment constructed or purchased by private
capital for war production, and certified as necessary to the
war effort, could be fully amortized within 5 years or a
shorter period if tne war ended sooner.
In interpreting the data on net capital assets, it should
further be pointed out that during the war years a considerable amount of Government-owned plant was privately
operated. Moreover, the very large corporations operated a
high proportion of such plants. The value of these facilities
was, of course, not reflected in net capital assets on the cor-
SUEVEY OF CURRENT BUSINESS
18
November 1947
Table 2.—Percentage Distribution of Assets by Total Assets Classes
[Note: Corporations were classified by size according to their total assets in 1939 and were retained in that size-class in all years shown]
Percentage distribution 2
Number of
corporations 1
Total assets classes
(millions of dollars)
1939
Total, all corporations _ _ _ _ _ . __
500 and over
250-500
100-250
50-100
_
25-50:
Largest 3
_ _Others
10-25
. .
_
5-10
1-5
1
._ .
1945
All other assets
Total assets
1946
Inventories
Net capital assets
1939
1945
1946
1939
1945
1946
1939
1945
1946
1939
1945
1946
1,000
12
12
48
56
981
12
12
48.
56
974
12
12
48
56
100.0
31.8
11.7
22.2
10.9
100.0
27.1
10.8
20.7
11.8
100.0
27.5
10.5
21.2
11.7
100.0
22.1
12.3
23.9
13.0
100.0
16.5
12.7
23.6
13.7
100.0
16.1
11.8
23.3
13.7
100.0
36.6
11.5
22.5
9.0
100.0
36.3
10.1.
22.2
9.6
100.0
35.4
10.0
21.1
9.9
100.0
30.8
11.5
20.8
12.4
100.0
25.6
10.6
18.6
12.3
100, 0*
27.7
10.2
19.8
12.1
72
12
184
173
431
72
12
183
169.
417
72
12
183
167
412
7.5
.9
8.4
3.4
3.2
8.2
.8
10.9
4.7
5.0
8.2
.9
10.4
4.6
5.0
9.0
.9
10.2
4.3
4.3
9.7
.7
12.2
5.0
5.9
9.6
.9
12.7
5.5
6.4
7.0
.8
7.2
2.7
2.7
7 2
7.6
3.2
3.1
7.6
.7
8.1
3.7
3.5
7.3
1.0
9.1
3.7
3.4
8.1
1.0
12.4
5.6
5.8
8.0
1.0
11.0
4.9
5.3
'.7
See footnote 1 to table 1 for explanation regarding reduction in number of corporations.
2
Based on dollar totals shown in table 1.
s This category includes those corporations in the 25-50 million dollar size-class in 1939 which were included among the 200 largest in that year.
Source: U. S. Department of Commerce; based on data from Securities and Exchange Commission and Moody's Investors Service.
porations7 books except to the extent that the plants were
transferred from Government to private ownership.
As a result of the declaration setting the end of September
1945 as the termination date for accelerated amortization of
war plant and equipment, charge-offs were unusually high in
that year. Records shown that depreciation, depletion, and
amortization charges reported by the 1,000 manufacturing
corporations amounted to 2.8 billion dollars in 1945, in
comparison with 2.2 billion in 1944 and 1.7 billion in 1946.
Data of table 1 show that the book value of net capital
assets reported by the 1,000 corporations was lower in 1945
than in 1939. The reported value at the end of 1946,
however, amounted to 18.8 billion dollars—an increase of
18.5 percent over 1945 data and of 13 percent over the
amount in 1939. New plant and equipment and the purchase of Government-owned plants contributed largely to
the increase.
All Other Assets
In contrast to marked increases from 1945 to 1946 in inventories and net capital assets of the 1,000 corporations, the
broad category comprising all other assets declined 14 percent. The decline for the 800 was 22 percent as compared
with 11 percent for the 200.
A sharp drop in receivables from the United States Government, liquidation of United States Government securities
(including tax notes submitted in payment of 1945 income
and excess profits taxes), and a moderate withdrawal of
cash on hand and in banks may be cited as principal reasons
for the reduction in the "all other assets" classification.5
The drop in Government receivables, however, was largely
offset by the increase in other notes and accounts receivable.
The Pattern in Different Size-Groups
Comments thus far made regarding changes by size of
corporations have referred mainly to the financial experience
of the 200 largest in contrast to the aggregate of a selected
group of 800 corporations. Other conclusions might, of
course, be reached if the size-pattern is more finely delineated.
A break-down in greater detail than that of table
1 is provided in table 2. Here, the 1,000 corporations 6 are grouped
(by assets-size at the end of 1939) according to 8 size-classes,
and the dollar figures on assets of these concerns are distributed on a percentage basis.
s Based on release of the Securities and Exchange Commission; see "Working Capital of
1,246
Registered Corporations (June 26,1947)."
6
The reduction in number of corporations, as shown in table 2 and subsequent material, is
attributable almost entirely to mergers and acquisitions within the original group of 1,000;
hence the comparability of the financial data is essentially unimpaired. For convenience,
the term "1,000'' is used generally throughout the text.
Reading the table vertically shows the importance of the
corporations in each size-class and reading horizontally indicates the extent to which these corporations maintained
their importance. It may be seen, for example, that the 12
concerns having total assets of over 500 million dollars in
1939 accounted in that year for 31.8 percent of the total
assets of the combined group of 1,000, whereas in 1946 the
ratio for the same concerns was lowered to 27.5 percent.
The companies that edged up most, relatively, during the
war were those whose gross assets in 1939 amounted to
between 10 and 25 million dollars.
Durable Goods vs. Nondurable Goods Industries
The analysis by size, as provided above, is descriptive of
balance-sheet changes indicated by corporations classified
in the various size-groups, irrespective of the industrial
category in which they operate. Although space limitations
preclude a comprehensive analysis by individual industries,
it is possible to present detailed data based on two broad
industrial groups—durable goods industries and nondurable
goods industries—and some summary information for finer
industry break-downs.
As would be expected, analysis reveals that sharper
fluctuations occurred in the durable than in the nondurable
industries (see chart 2). The impact of the war was reflected, of course, to a greater degree in the former. However, the chemical and rubber products industries—both of
which were vitally affected by the war—are included in the
nondurable goods category.
Referring to chart 2, it will be noted that gross assets held
by 515 corporations producing durable goods were fractionally lower in 1946 than in 1945. On the other hand, an increase of 10 percent was shown by 485 corporations producing nondurables. It should be borne in mind, however, that
the wartime expansion was materially greater for the durable
goods group. The reduction in 1946 assets of the durable
goods group occurred among the lesser-sized producers, the
largest group having reported an increase of 2 percent. In
nondurable goods, both the largest corporations and the
other producers participated in the 1945-46 expansion, but
the latter group made the greater relative gains.
In inventories, the durable goods industries showed a more
rapid accumulation in 1946 than did the nondurables, while
the lesser-sized corporations in both divisions led in this
respect by a substantial margin. It may be noted, however,
that producers of nondurables reported a moderately higher
dollar value of inventories in 1945 than in 1944, whereas producers of durables reported a decline of approximately one-
November 1947
SUEVEY OF CUKKENT BUSINESS
fifth. In addition to liquidation of war-type goods, some of
this decline was probably due to stock revaluation.
The general observations previously made regarding the
wartime circumstances affecting data on net capital assets
are especially pertinent in the case of durable goods producers. Net capital assets reported by 515 durable goods producers reflect conspicuously the accelerated amortization of
war plants. The importance of Government-owned plants—
some of which were purchased by private industry in 1946—
must also be borne in mind in interpreting these data.
Both of these factors account in part—directly or indirectly—for the pronounced decline in net capital assets between 1939 and 1945 for the largest corporations.
For the lesser-sized corporations in durable goods industries, net capital assets in 1945 were slightly above the level
of 1939, though a moderate decline occurred from 1944 to
1945. In 1946, net capital assets of the largest as well as
the other producers increased sharply, advances amounting
to 20 percent for the former group and almost 33 percent for
the latter.
As indicated by chart 2, the net capital assets reported by
485 nondurable goods manufacturers (both groups) showed an
expansion from 1939 to 1944, a small decline in 1945, and a
substantial increase in 1946. A consistent expansion in net
capital assets, however, was shown during these periods by
the 377 lesser-sized manufacturers of nondurables.
Working Capital Status
Current assets of the 1,000 concerns increased from 14.7
billion dollars in 1939 to 29.9 billion in 1946. This increase
of 15.2 billion accounted for about 85 percent of the growth
in total assets of these corporations during the same period.
In addition to expansion of inventories, which already has
been commented upon, important components of current
assets contributing to the change were cash (on hand and
in banks) and United States Government securities. The
latter two items, however, showed a contraction in 1946 as
compared with 1945.
On the liability side, current items as reported in 1939 by
the combined group of corporations had almost tripled by
the end of 1946, largely because of marked increases in notes
and accounts payable and in Federal income-tax accruals.
The net effect of changes in current assets and liabilities was
a substantial increase in working capital during the war
years, and a moderate rise in 1946. However, as a result of
the greater relative expansion in current liabilities than in
current assets, the working capital ratio (dollars of current
assets per dollar of current liabilities) was lower in 1946 than
in 1939, or 3.1 as compared with 4.5. This ratio, which is
one of the more commonly used measures of business liquidity, had moved up in 1946 from/2.8 in 1945.
Table 3 summarizes the statistics on the working capital
position of the 1,000 corporations for the years 1939, 1945,
and 1946. These data reveal that relative increases from
1939 to 1946 were more pronounced among the 800 concerns
than among the largest, and among producers of durable
goods rather than of nondurables. "Largest" companies,
however, showed a more favorable working capital ratio in
each of the 3 years for which data are given.
Invested Capital
The net worth of the 1,000 manufacturing corporations
which had been built up substantially during the war continued to increase in 1946. Details are not available to indicate how much of this increase was due to additions to earned
surplus and how much to the issuance of capital stock.
Approximately equal proportionate increases in net worth
were shown by the producers as a group in both the durable
and nondurable goods industries, but in each group the gains
19
Chart 2.—Total Assets of 1,000 Large Manufacturing
Corporations, by Selected Components, for Durable
and Nondurable Goods Industries 1
DURABLE GOODS
INDUSTRIES
NONDURABLE GOODS
INDUSTRIES
—
92 LARGEST
—- 423 OTHER LARGE
—
108 LARGEST
—— 377 OTHER LARGE
INDEX, 1939 -100
INDEX, 1939" 100
300
300
TOTAL ASSETS
200
200
100
100
0
300
0
300
/
/ INVENTORIES
200
^^
100
0
200
200
100
0
200
NET CAPITAL ASSETS
100
100
0
0
500
500
ALL OTHER ASSETS
400
400
300
300
200
200
100
100
i
1939
1
44 45 46
i
1939
i
44 45 46
47-495
Total assets in 1939 were used in making the size distribution of corporations. Indexes
are based on data as of end of fiscal year.
Sources of data: U. S. Department of Commerce, Office of Business Economics, based on
data from Securities and Exchange Commission and Moody's Investors Service.
of the largest producers were relatively less than those for
the other concerns. In appraising changes in net worth it
should be understood that the data are as reported by the
corporations and that book values involve varying degrees
of arbitrariness on the part of the reporting concerns.
Table 4 provides data on net worth for the relevant subgroups of the 1,000 corporations, along with the figures on
long-term debt and total invested capital.
The long-term debt of these corporations in the aggregate
increased but little in 1945 as compared with 1939, since
sizable debt redemptions during this period largely offset new
borrowings. To meet the various readjustments necessary
in the postwar period, however, long-term loans were resorted
to in significant amounts. In 1946, the aggregate long-term
debt of the 1,000 corporations was 32 percent above the
1939 total.
SURVEY OF CURRENT BUSINESS
20
November 1947
Table 3.—Working Capital Position of 1,000 Large Manufacturing Corporations
1
[Figures, except working capital ratios and percentages, in millions of dollars]
Durable goods industries
All industries
Year and item
Total, 1,000
corpora200 largest
tions
1939:
Current liabilities
Net working capital
Working capital ratios 2
1945:
Current assets
Current liabilities
Net working capital
Working capital ratio 2
1946:
_
-
-
-
--
-
-
_
-
Current liabilities
2
^V^orking capital ratio
Percentage increase, 1939 to 1946:
Current assets
Current liabilities
Net working capital
-- -
-
-
_____
-
--
-
--
- --
-
Nondurable goods industries
800 others
Total, 515
corporations
92 largest
423 others
Total, 485
corporations
108 largest
377 others
14, 657
3,265
11, 392
4.5
11,753
2,550
9,202
4.6
2,904
714
2,190
4.1
7,145
1,671
5,475
4.3
5,615
1,278
4,337
4.4
1,531
393
1,138
3.9
7,511
1, 594
5,917
4.7
6,138
1,272
4,866
4.8
1,373
322
1,052
4.3
30, 257
10, 652
19, 605
2.8
22, 320
7,184
15, 136
3.1
7,937
3,468
4,469
2.3
16, 426
6,303
10, 122
2.6
11, 350
3, 854
7,496
2.9
5,076
2,450
2,626
2.1
13,831
4,349
9,482
3.2
10, 970
3,331
7,640
3.3
2,861
1,018
1,843
2.8
29, 932
9,596 •
20, 335
3.1
22, 483
6, 887
15, 596
3.3
7,449
2,709
4,739
2.7
15, 071
4,789
10, 282
3.1
10, 839
3,202
7,637
3.4
4,232
1,587
2,645
2.7
14, 861
4,807
10, 053
3.1
11, 644
3,685
7,959
3.2
3,217
1,122
2,094
2.9
104.2
193.9
78.5
91.3
170.1
69.5
156.5
279.4
116.4
110.9
186.6
87.8
93.0
150.5
76.1
176.4
303.8
232.4
97.9
201.6
69.9
89.7
189.7
63.6
134.3
248.4
99.0
1 Data as of end of fiscal year. See footnote 1 to table 1 regarding reduction in number of corporations.
2 Dollars of current assets per dollar of current liabilities.
Source: U. S. Department of Commerce; based on data from Securities and Exchange Commission and Moody's Investors Service.
Table 4.—Invested Capital of 1,000 Large Manufacturing Corporations 1
[Figures, except percentages, in millions of dollars]
All industries
Year and item
1939:
Invested capital, total
Long-term debt
Net worth
.
1945:
Invested capital total
Long-term debt
Net worth
1946:
Invested capital total
Long-term debt
Net worth
__ __
Percentage increase, 1939 to 1946:
Invested capital total
Long-term debt
- Net worth
Total, 1,000
corpora200 largest
tions
•
--
--
-
--
Total, 515
corporations
92 largest
423 others
Total, 485
corporations
108 largest
377 others
4,821
350
4,471
14, 088
1,311
12, 777
11, 690
1,153
10, 537
2,399
159
2,240
16, 469
2,242
14, 227
14, 047
2,050
11, 997
2,421
191
2,230
-
37, 145
3,621
33, 524
30, 139
3,143
26, 996
7,007
478
6,529
17, 215
1,053
16, 162
13, 445
857
12, 588
3,770
196
3,574
19, 930
2,568
17, 362
16, 694
2,286
14, 408
3,237
282
2,955
- -- -
40, 794
4,699
36,095
32, 746
4,036
28, 710
8,048
663
7,385
18, 799
1,664
17, 135
14, 550
1,357
13, 193
4,249
307
3,942
21, 995
3,035
18, 960
18, 196
2,679
15, 517
3,799
356
3,443
----
33.5
32.3
33.7
27.2
26.0
27.4
66.9
89.4
65.2
33.4
26.9
34.1
24.5
17.7
25.2
77.1
93.1
76.0
33.6
35.4
33.3
29.5
30.7
29.3
56.9
86.4
54.4
-
- - --
800 others
25, 737
3,203
22, 534
- -
-
Nondurable goods industries
30, 557
3,553
27, 004
__ __
_
Durable goods industries
- -
-
- --
i Data as of end of fiscal year. The item "minority interest" is not included as part of invested capital. Long-term debt includes bonds, mortgages, notes with a maturity longer than 1
year, long-term purchase contract liabilities or purchase money obligations, etc.; net worth includes total capital stock and surplus. See footnote 1 to table 1 regarding reduction in number
of corporations.
Source: U. S. Department of Commerce; based on data from Securities and Exchange Commission and Moody's Investors Service.
Table 5.—Sales and Profits of 1,000 Large Manufacturing Corporations, 1936-46 1
[Figures, except percentages, in millions of dollars]
Sales 2
Net profits
Before income taxes
Year
1936
1937
1938
1939
1940
1941
1942
1943
1944
1945
1946
Percentage change:
1939 to 1944
1944 to 1945
1945 to 1946
Total, 1,000
corpora200 largest
tions
__
__
_
-
.
_ _
.
.
_ _ _ _ _
_
_ _
----- --
800 others Total, 1,000
corpora200 largest
tions
After income taxes
800 others
Total, 1,000
corpora200 largest
tions
800 others
27, 894
31, 910
25, 428
28, 458
32. 733
45, 732
57, 193
74, 552
80, 592
71, 558
59, 860
22, 248
25, 468
20, 280
22, 379
25, 523
34, 751
41, 314
52, 713
56, 928
50, 903
44, 798
5,646
6,442
5.148
6,078
7,210
10, 981
15, 879
21, 839
23, 664
20, 655
15, 062
2,972
3,316
1,621
2,685
3,944
6,774
7, 129
8,604
8,268
6,024
5,630
2,424
2,752
1,381
2>164
3,129
5,110
5, 105
5,998
5,881
4,165
4,118
548
564
241
521
816
1,664
2,024
2, 605
2,387
1,858
1,512
2,484
2,719
1,294
2,193
2,708
3,247
2,634
2, 858
3,029
2,997
3,833
2,034
2,263
1,112
1,776
2,164
2,504
1,996
2,157
2,324
2,319
2,862
450
456
182
417
543
744
638
701
705
678
971
+183. 2
-11.2
-16.3
+154. 4
-10.6
-12.0
+289. 3
-12.7
-27.1
+207. 9
-27.1
-6.5
+171. 8
-29.2
—1.1
+358. 2
-22.2
-18.6
+38.1
-1.1
+27.9
+30.9
-.2
+23.4
+69.1
-3.8
+43.2
1 Selection of the 200 largest and 800 others was based on size of total assets in 1939. Chiefly because of mergers and acquisitions within the original group of 1,000 corporations, the 800-group
was reduced in number to 792 in 1944, 781 in 1945, and 774 in 1946; the reduction in number of corporations does not materially affect the comparability of the dollar figures.
2 Gross sales less returns and allowances.
Source: U. S. Department of Commerce; based on data from Securities and Exchange Commission and Moody's Investors Service.
SURVEY OF CURRENT BUSINESS
November 1947
Sales and Profits
Table 5 shows the trends from 1936 to 1946 in sales 7 and
profits of the composite group of 1,000 manufacturing corporations, together with separate data for the two broad sizegroups. This information is given graphically in chart 3.
Sales
As was true of all manufacturing corporations, sales of the
combined group of 1,000 reached a peak in 1944, and declined in both 1945 and in 1946, though declines were small
when compared with the previous advances. Relatively,
the over-all gain between 1939 and 1946 was more pronounced for the 800 than for the 200. The net advance was
148 percent for the former as against 100 percent for the
latter.
Net Profits
Chart 3.—Sales and Net Profits of 1,000 Large Manufacturing Corporations 1
RATIO SCALE
BILLIONS OF DOLLARS
OF SALES
70
60
RATIO SCALE
BILLIONS OF DOLLARS
OF NET PROFITS
7.0
opPoooooo
6.0
oooo
50
,00°
5.0
200
4.0
LARGEST
30
3.0
20
2.0
10
9
8
7
1.0
.9
.8
.7
6
.6
5
.5
4
.4
.3
SALES - LEFT SCALE
NET PROFITS BEFORE"!
INCOME TAXES
\
NET PROFITS AFTER f
INCOME TAXES
J
1936
I
1937
I
1938
I
1939
I
1940 1941
I
1942
I
1943
.2
RIGHT
" SCALE
I
1944
I
,1
1945 1946
47-492
i Total assets in 1939 were used in making the size distribution of corporations. Sales are
net of returns and allowances only.
Sources of data: U. S. Department of Commerce, Office of Business Economics, based on
data from Securities and Exchange Commission and Moody's Investors Service.
7
Chart 4.—Sales of 1,000 Large Manufacturing Corporations, for Durable and Nondurable Goods Industries 1
I NDEX, 1939 = 100
700
INDEX, 1939= 100
700
DURABLE GOODS
INDUSTRIES
NONDURABLE GOODS
INDUSTRIES
600
600
500
500
400
400
300
300
377 OTHER
200
200
Some explanations are warranted concerning the information on net profits provided for this analysis. It should be
clearly understood that the data are as stated in the reports
of the corporations, except to the extent that before-tax
profits were reported after accelerated amortization charges
net of income-tax credits applicable thereto. In such cases,
40
21
See footnote 3.
LARGEST
100
100
1939
44 45 46
1939
44 45 46
47'499
1
Total assets in 1939 were used in making the size distribution of corporations. Sales are
net of returns and allowances only.
Sources of data: U. S. Department of Commerce, Office of Business Economics, based on
data from Securities and Exchange Commission and Moody's Investors Service.
the tax credit was added back to amortization charges and
deducted from the reported income-tax liability, with the
result that before-tax profits as shown by some corporations
were somewhat higher than those used in this article.
No further attempt has been made to reconcile the accounting practices of the corporations with those employed by the
Bureau of Internal Revenue in the computation of tax
liability. Because of a combination of factors unavoidable
in the war and reconversion periods, an exact determination
of actual earnings is difficult, and the comparability of data
from year to year may be somewhat impaired.
Moreover, the after-tax earnings reported in a given year
do not necessarily reflect the operations of that year. The
tax laws, for example, provided for the allowance of various
refunds, credits, etc., to cushion the effects of war and postwar losses. Important among these special adjustments
was the provision for the 2-year carry-back and carry-over
of unused excess-profits tax credits and operating net losses.
In this article, tax refunds to corporations have been treated,
as shown in the corporation records.
Another wartime adjustment reflected in reported earnings
relates to the special amortization allowances on war plant.
When the 5-year time period for amortizing war plant was
shortened by the declaration setting September 30, 1945 as
the termination date on such charges, most corporations
charged the entire unamortized cost of war facilities against
1945 earnings instead of revising their statements for prior
years. This procedure tended, therefore, to depress the
reported earnings in 1945, except to the extent that these
charge-offs were cushioned by tax refunds for prior years.
Following the pattern exhibited by all manufacturing
corporations, net profits before taxes reported by the 1,000
corporations reached a wartime peak in 1943. They declined
moderately in 1944, despite a substantial gain in sales—and
sharply in 1945 when war contracts were largely canceled
and when, as noted above, the unamortized cost of warfacilities was charged against current earnings. These corporations showed a further small loss in pretax earnings in
1946.
SUKVEY OF CUEEENT BUSINESS
22
As pointed out earlier, the profits data shown in this
analysis are, with minor exceptions, as stated by the corporations and include varying amounts of profits on inventories. Exclusion of such profits would, of course, alter materially the level of profits in certain years.
After-tax earnings of the group of 1,000 corporations increased in 1946, notwithstanding the drop in before-tax
profits. As may be seen from table 5 and chart 3, profits
were held down considerably by the heavy tax rates imposed
during the war years. Major factors in the increase in 1946
net profits after taxes were the elimination of the war excess
profits tax and the lowering of the corporate normal-surtax
from 40 to 38 percent.
It may be noted that the increase in profits, both before
and after taxes, between 1939 and 1944 was materially
greater for the 800 corporations, as was the pronounced rise
in profits after taxes which occurred in 1946.
The facts on profits as stated above relate to over-all data
for the 1,000 corporations and to the two broad size-groups
into which they were divided. Many differences are apparent if individual reports are examined. For example, 85
corporations included in the group reported pretax deficits
in 1946 and 18 of these are in the largest group. However,
because of tax credits allowable under the various wartime
provisions to mitigate losses, about half of the 85 companies
were able to show after-tax profits. Most of the companies
referred to are producers in the aircraft, automobile, machinery, iron and steel, and other metal-products industries.
Comparative performance ratios for the 1,000 corporations,
with data for the largest and "others" shown separately, are
provided in the tabulation below. Net profits expressed as
percentages of sales and as percentages of net worth are as
follows:
Net profits, before income taxes
Year
1,000 corporations
200 largest
800 others
Net profits, after income taxes
1,000 corporations
200 largest
10.7
9.4
11.5
10.3
8.4
9.4
10.9
9.7
11.4
10.3
8.2
9.2
9.7
8.6
11.9
10.1
9.0
10.0
8.9
7.7
3.8
3.8
4.2
6.4
14.6
16.8
13.9
15.3
18.3
23.2
10.0
11.4
NONDURABLEHSOODS
INDUSTRIES
—
92 LARGEST
- - - 423 OTHER LARGE
'
108 LARGEST
• - . 377 OTHER LARGE
INDEX,1939
INDEX, 1939* 100
700
100
700
NET PROFITS BEFORE INCOME TAXES
A
600
600
500
500
400
400
300
300
200
200
too
100
0
300
0
i r
NET PROFITS AFTER INCOME TAXES
300
200
200
100
100
1939
9.1
7.9
4.1
4.1
4.6
6.4
8.0
6.9
3.2
3.0
3.3
6.4
9.6
10.6
12.1
14.9
12 See footnote 3 to text.
Book value.
3 The year 1940 is used instead of 1939 because data on net worth at the beginning of 1939
have not been compiled for the 1,000 corporations.
The profit-sales ratios as shown above are more significant
as indicators of trends than as absolute data, since sales
represent a duplicated count to the extent that they include
intercompany sales. Such ratios are, of course, considerably
lower than
those based on income originating in corporate
business.8
Although profit margins (profits before taxes as a percent
of sales) as indicated for the 1,000 corporations moved higher
in 1946 than in 1945, they were below those of the war and
certain prewar years. The above tabulation shows no appreciable and consistent differences in the profit margins
derived for the 200 largest and the 800 others.
In the case of profits after taxes as a percent of sales, ratios
were lower for the 800 companies in every year except 1946.
8 See "Corporate Profits in the First Half of 1947," SURVEY OF CURRENT BUSINESS,
October 1947.
DURABLE GOODS
INDUSTRIES
44 45 46
1939
44 45 46
47-496
Total assets in 1939 were used in making the size distribution of corporations.
Sources of data: U. S. Department of Commerce, Office of Business Economics, based on
data from Securities and Exchange Commission and Moody's Investors Service.
1
Percent of net worth 2 at beginning of year
1940s
1946
Chart 5.—Net Profits of 1,000 Large Manufacturing
Corporations, for Durable and Nondurable Goods
Industries l
800 others
Percent of sales 1
1936
1939
1943
1944.
1945
1946
November 1947
Thus it would appear that the greater profitability of the
800 group, referred to in the immediately following paragraphs, was due not to greater profit margins on sales
but to
a higher volume of business relative to net worth.9
In evaluating the percentages of profits to net worth, the
previous qualifications relating to net worth, as well as to
profits, should be borne in mind. According to ratios
derived for the 1,000 corporations, profitability increased
between 1940 and 1946, but more notable are the appreciable
differences in both years between the 200 largest and the 800
other corporations.
Pretax profits were 18 percent of net worth in 1940 and
23 percent in 1946 for the 800 corporations, as against 14 and
15 percent, respectively, for the 200 largest. Similarly,
after-tax profits for the 800 corporations were 12 percent of
net worth in 1940 and 15 percent in 1946,
as against 10 and
11 percent, respectively, for the largest.10
It is likewise worthy of comment that examination of more
detailed data show that these relations are fairly consistent
9
In qualification of this statement, it may be noted that vertical integration tends to
reduce the value of corporate sales, and vertical integration may be expected to be more
frequent among the 200 largest corporations than among the 800 others.
> 10 It is interesting to note that data recently made available by the Federal Trade Commission and Securities and Exchange Commission show that a similar relationship prevailed in
the first quarter of 1947. This study, however, covered a wider range of size-groups and indi-%
cated specifically that profits before Federal taxes as a percent of stockholders' equity were
lowest for the largest corporations (assets over 100 million dollars) and highest for corporations
with assets of 1 million to 5 million. Profits after Federal taxes as a percent of stockholders'
equity varied similarly. (See Quarterly Industrial Financial Report Series for All United
States Manufacturing Corporations, October 31, 1947, Federal Trade Commission and
Securities and Exchange Commission.)
November 1947
SUEVEY OF CURRENT BUSINESS
within specific manufacturing industries. Of 19 detailed
industry groups examined, profits after taxes as a percent of
net worth were higher for lesser-sized corporations in both
1940 and 1946 in 11 industries; in 1 industry the record of the
largest was superior in both years; in 7 industries, the lessersized corporations led in 1 year and the largest in the other.
For pretax profits as a percent of net worth, the lessersized corporations led in both years in 11 industries; the
largest led in both years in 2 industries, and in the remaining
6 leadership differed in the 2 years.
Durable Goods vs. Nondurable Goods Industries
Variations in sales and profits of durable goods industries
compared with nondurables are revealed by charts 4 and 5.
Duplicating the general pattern exhibited by the balancesheet items, the war and postwar changes in sales and profits
were conspicuously more erratic for the durable goods
producers.
In sharp contrast to the precipitous drop subsequent to
1944 in sales of durable goods manufacturers, a fairly stable
trend was evidenced by nondurable goods producers. Keconversion problems, raw material shortages, and labor
difficulties were more pronounced in the case of the former
group.
The relative declines from 1944 to 1945 in net sales of
heavy goods producers were approximately the same when
comparison is made of largest and other concerns (about 18
percent for each size-group). The lesser-sized concerns,
however, showed a drop of 46 percent from 1945 to 1946,
compared with 29 percent for the largest ones. On the other
hand, the relative gain from 1945 to 1946 in sales of nondurable goods producers was more pronounced for the lessersized corporations than for the largest.
Net profits (both before and after taxes) reported by the
durable goods producers were lower in 1946 n than in 1945,
whereas those reported by the nondurable goods group were
up about 30 percent and 56 percent, respectively. The gains
shown by the latter group were participated in more conspicuously by the lesser-sized companies.
Shifts in the 200 Largest
As previously stated, the term "200 largest" employed
generally throughout this article signifies a group of corporations selected on the basis of size of assets in 1939—that is,
a fixed group of prewar concerns. Since various companies
shift in and out of the top ranks, it is of interest to compare
data for the 200 largest prewar companies with those for
the 200 largest based on size in a more recent period.
In table 6, financial items for the combined group of 1,000
manufacturing corporations are summarized for the years
1939 and 1946, with separate data given on the 200 corporations selected by size of assets in each of the respective years.
As indicated by the percentages shown in the table, the position of the 200 in relation to the group of 1,000 corporations
was somewhat less prominent in the postwar year than in
1939.
Whereas total assets of the 200 in 1939 represented 84
percent of the aggregate for the 1,000 corporations, the corresponding ratio in 1946 was down to 81 percent. The
prewar and postwar ratios for sales were 79 percent and 76
percent, respectively, and for net profits (after taxes), 81
and 75 percent.
The war period brought numerous shifts in the ranks of
largest companies. By 1943, for example, 30 producers of
war-needed goods had moved into the category of "200
largest." About half of these, however, did not retain their
» This decline was, of course, reversed as output accelerated in 1947. See "Corporate
Profits in the First Half of 1947," SURVEY OF CURRENT BUSINESS, October 1947.
23
Table 6.—Selected Balance Sheet and Operating Data: Relative
Status of the 200 Largest Corporations, 1939 and 1946
[Note: Selection of the 200 largest was based on size of assets in each year. Balance sheet
data are as of end of fiscal year periods]
1,000 corporations (millions of dollars)
1939
Item
Total
1946
200
largest
Total
200
largest
200 largest as
percent of 1,000
corporations
1939
1946
Total assets
Inventories
Net capital assets
All other assets .
35, 666
6,785
16, 574
12, 308
29, 994
5,451
14, 357
10, 187
53, 487
13, 155
18, 784
21, 547
43, 157
10, 207
15, 797
17, 153
84.1
80.3
86.6
82.8
80.7
77.6
84.1
79.6
Current assets
Current liabilities.. _ _ _ _
Net workin? capital
14, 657
3,265
11,392
11,753
2,550
9 202
29,932
9,596
20, 335
23, 251
7,291
15,960
80.2
78.1
80.8
77.7
76.0
78.5
Invested capital
Long-term debt
Net worth
30, 557
3, 553
27, 004
25, 737
3,203
22, 534
40, 794
4,699
36, 095
33, 131
4, 152
28, 979
84.2
90.1
83.4
81.2
88.4
80.3
Sales *
Net profits, before income
taxes
Net profits, after income
taxes
28, 458
22, 379
59, 860
45, 571
78.6
76.1
2,685
2,164
5,630
4,130
80.6
73.4
2,193
1,776
3,833
2,889
81.0
75.4
i Gross sales less returns and allowances.
Source: U. S. Department of Commerce; based on data from Securities arid Exchange
Commission and Moody's Investors Service.
status after the war. At the end of 1946, a total of 26
prewar largest concerns had failed to regain a place among
the top 200.
Summary
The findings of this article are summarized briefly as
follows:
(1) According to the assets measure of size, there was
some decline during the war years in the position of the 200
largest manufacturing corporations in relation to the total
for all corporate manufacturing. Although a cessation of
this trend was discernible following the close of the war, the
converse movement was not pronounced.
(2) Net working capital (current assets minus current
liabilities) of the 1,000 corporations studied in this report
was substantially higher in 1945 than in 1939, with some
further increase occurring in 1946. The over-all rise was
relatively greater for the 800 lesser-sized concerns within
this group of 1,000 corporations than for the 200 prewar
largest, and was also greater for the durable goods producers
than for the nondurables producers.
Although the working capital ratio (dollars of current
assets per dollar of current liabilities) was higher in 1946
than in 1945, it was considerably lower than in 1939. The
ratio in each of the years 1939, 1945, and 1946 was higher
for the largest concerns.
(3) Sales and profits (both before and after taxes) in 1946
were much higher in relation to 1939 for the 800 corporations
than for the 200 largest. For firms in both size-groups,
sales and profits before taxes declined from 1945 to 1946, but
profits after taxes increased.
(4) Profit margins (ratio of profits before income taxes to
sales) reported by the 1,000 corporations increased moderately in 1946 as compared with 1945 but remained below
those of the war years, both for the largest 200 concerns and
the 800 others. After-tax profits in relation to sales, on the
other hand, were appreciably higher in 1946 than in the war
years, having increased steadily since 1944. In 1946 this
latter relationship was about the same for both size-groups.
Elimination of the war excess profits tax was a major factor
in raising the percentage of after-tax profits to sales in 1946.
(5) Increases from 1940 to 1946 in the ratios of profits
(both before and after taxes) to net worth were greater for
SUEVEY OF CURRENT BUSINESS
24
the 800 corporations than for the 200 largest. In both years
the 800 were more profitable than the largest when judged
by this standard.
As previously noted, the 800 corporations made appreciably greater relative gains between 1939 and 1946 in
assets, sales, net profits, and in most of the significant balancesheet items. These changes, however, must be interpreted
in the light of the usual cyclical factors which influence the
behavior of firms of different size. Experience indicates that
incomes of smaller concerns are typically more sensitive to
cyclical swings in business activity, and that as a consequence the relative importance of the largest corporations
regularly increases in depression and is reduced in prosperity.
It follows, therefore, that such shifts are not necessarily
indicative of enduring alterations in the structure of business
and that a study of these latter changes would require a considerably more comprehensive analysis—from the standpoint
of time-span covered—than was undertaken in this survey.
Explanatory Notes
To clarify the basic material of this article, further details and explanations are summarized below.
Since financial data of the 1,000 manufacturing corporations are
based largely on consolidated statements of corporate groups, the number of individual corporations represented is considerably more than
1,000. The consolidated statements usually include data for all subsidiary corporations the majority of whose voting stock is held by the
parent company.
With minor exceptions, the analysis for the 11-year period (1936-46)
covers an identical group of 1,000 parent corporations. In the initial
selection of the 1,000 corporations, only those companies were included
whose financial data were available for the entire period from 1936
through 1943; thus the same number of corporate returns is included
throughout this period. Largely because of mergers and acquisitions
within the original group of 1,000, the number of corporate returns was
reduced to 992 in 1944, 981 in 1945, and 974 in 1946. Since the operations of these merged companies are still included in the financial
statistics of the combined group, the reduction in absolute number of
separate corporate returns does not impair the validity of the data.
For convenience, the term "1,000 corporations" is used generally in
this article.
Obviously, in compiling data from consolidated returns of corporations, some businesses other than manufacturing are included. However, multiple corporations reporting on a consolidated basis were
included in this survey only if it could be ascertained that manufacturing activity accounted for the largest percentage of total receipts.
To obtain consistency in the matter of reporting United States tax
notes, some adjustments were made in the total assets data as shown
by certain corporations. In most corporation reports, United States
tax notes were treated as a part of current assets; some corporations,
however, deducted tax notes from the income-tax liability instead of
including them under assets. In such cases, tax notes were added
back to the balance-sheet account.
Statistics reported under the caption of a specific year include data
for 12-month accounting periods ending from June 30 to December 31
of that year; whereas data for accounting periods ending prior to June
30 were included under the heading of the previous year, or the year
which included the greater part of the 12-month accounting period A
financial statement for 12 months ended May 31, 1947, for example,
was included under the year 1946.
The Business Situation
(Continued from p. 10)
savings rate, with reduced participation in the pay roll deduction plan for savings bond purchases and less insistent
patriotic appeals in bond selling operating as important
factors. "E" bond purchases are currently concentrated in
higher denominations as small investors who previously pur-
November 1947
chased low denominations reverted to traditional habits by
depositing their savings in banks.
Savings Rate Reflects Postwar Influences
The restoration of a savings-income relationship in the
recent postwar period which does not differ much from the
rate which existed in years of high income and employment
before the war tends to obscure the effects of special factors
operating in the postwar transitional period. In the first
place, consumers entered the postwar period with huge
backlog requirements for passenger cars and other durable
goods. The trend of production in the reconverted durable
goods industries is reviewed in an earlier section in this issue.
Because the working-off of backlog requirements has been
slow, there has not been any unusual bulge in durable goods
expenditures relative to current income. As further production progress is made in these industries the existence
of deferred demands may have an impact on the rate of
consumer savings.
The relatively low volume of consumer credit outstanding
in comparison with the current level of consumer income—
a situation which is described in detail in a feature article in
this issue—is a further factor affecting postwar savings
patterns. The existence of record liquid asset accumulation
should also be noted. Persons holding these accumulations
are in a position to step up their rate of spending. However,
to the extent that these assets are used as an alternative to
consumer borrowing there would not be any net effect on
the savings rate.
Consumer Credit in the Postwar Period
(Continued from p. 15)
The actual effects of the postwar credit expansion have
been shaped by factors peculiar to the
transition period. In
the first place, the postwar sellers7 markets for the major
durable consumer goods has meant that the amount of these
goods purchased has not been influenced by the availability
of credit. The stimulating effect of "time" purchasing has
been felt chiefly in other areas of consumer demand where
sales were strengthened either because of the spending of
funds which would have been absorbed in durable goods purchases had credit not been available, or because of the extension of charge account credit, single payment loans, and other
forms of credit not primarily associated with durable goods
purchases. With supplies limited in most areas of the
economy either by capacity considerations or by various
production difficulties incident to the reconversion period,
the tendency has been for the added purchasing power to
make itself felt in pressure on prices—to a greater extent
than in a more normal period of business expansion.
Secondly, to the extent that postwar borrowing has been
merely a substitute for the drawing down of the large liquid
asset holdings carried over from the war period, the borrowing has not actually increased consumer spending,
although it has increased the amount of funds which may be
readily spent by consumers.
The acceleration of credit extension which will follow
from any relaxation of terms of borrowing will not bring
forth any larger supplies of the major durable goods which
will remain short of demand for the near-term, but will
stimulate consumer purchasing in other areas. Insofar as
there is no improvement in supplies relative to demand,
credit extension adds to the pressure on prices.
SURVEY OF CURRENT BUSINESS
November 1947
&-1
Monthly Business Statistics
The data here are a continuation of the statistics published in the 1942 Supplement to the SURVEY OF CURRENT BUSINESS. That volume
contains monthly data for the years 1938 to 1941, and monthly averages for earlier years back to 1913 insofar as available; it also provides a
description of each series and references to sources of monthly figures prior to 1938. Series added or revised since publication of the 1942 Supplement are indicated by an asterisk (*) and a dagger (f), respectively, the accompanying footnote indicating where historical data and a descriptive
note may be found. The terms "unadjusted" and "adjusted" used to designate index numbers refer to adjustment of monthly figures for seasonal
variation.
Data subsequent to September for selected series will be found in the Weekly Supplement to the Survey.
Unless otherwise stated, statistics through
1941 and descriptive notes may be found
in the 1942 Supplement to the Survey
19 46
September
October
1947
November
December
January
February
March
May
April
June
July
August
September
GENERAL BUSINESS INDICATORS
NATIONAL INCOME AND PRODUCT *
Seasonally adjusted quarterly totals at annual rates:
National income
bil of dol
Compensation of employees
_ . _ _ _.do _
Wages and salaries
do
Private
do
Military
do
Government civilian
do
Supplements to wages and salaries
do
Proprietors' and rental income
do
Business and professional
do
Farm
do
Rental income of persons.
__do. _.
Corporate profits and inventory valuation adjustment
bil. of dol
Corporate profits before tax
do
Corporate profits tax liability
do
Corporate profits after tax
do
Inventory valuation adjustment
do
Net interest
do
Gross national product
do
Personal consumption expenditures
do
Durable coods
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
bil. of dol
Federal (less Government sales)
do
State and local
do
Personal income
do
Less: Personal tax and nontax payments do
Equals: Disposable personal income
do .
Personal savings §_ .
do
179 9
119.2
113.6
93.8
6.7
13. 2
5. 5
41.9
19.9
15. 2
6.8
191 0
122.2
117. 1
98 0
5.6
13 5
5. 1
46 7
22.0
17 8
7.0
197 6
124.9
119 4
101 5
4 6
13 3
5 4
47 0
22 4
17 6
7.0
r 200 1
15.6
22.9
9.3
13.5
-7.3
3.2
207.5
147.3
16.2
88.9
42.1
27.0
8.9
13.2
4.9
4.5
18.8
27 1
11.0
16 1
-8.3
3 2
218.6
154. 9
18.2
93.6
43.1
30.4
9.3
15.7
5.4
5.2
22.4
29 0
11.6
17 4
—6 6
3 3
223 1
23 3
27 4
10 8
16 6
—4 1
3 3
229 1
28.6
18.2
10.4
179.5
19.1
160.4
13.1
28.2
16.9
11.2
187.5
19.5
168.0
13.1
r
(i)
129.7
124.7
107 3
•• 1 26. 3
' 120. 9
' 103 5
3.9
4 1
»• 13 2
13 4
r
47 2
f 21.9
18 0
47 3
22.1
17 9
5.5
5.0
7.2
r
r 158 0
7.3
•
r 162 0
r
r
18 5
r 95 3
r 44 2
r
29 4
10 3
r
16 5
2 7
T
8 3
19 2
r 97 8
r 45 o
r
29 1
r
96
T
18 0
1 5
r
10 5
T
T
r
r
27.4
16 0
11 4
190 9
r
21 2
r
169. 7
T
11 7
27 5
T 15 g
11 9
T 192 3
* 21 4
T
170
9
r
89
(i)
(i)
(i)
(i)
C1)
34
232 3
166 0
19 9
100 0
46 1
30 4
10 4
18 0
2 0
7 7
28 2
15 8
12 5
200 4
21 7
178.7
12 7
r
PERSONAL INCOME*
Seasonally adjusted, at annual rates:
Total personal income
bil. of dol..
Wage and salary receipts, total
...do
Total employer disbursements
do
Commodity-producing industries
do
Distributive industries
... _do
Service industries
do
Government-. _ _ _
_ _ _ _ _
do
Less employee contributions for social insurance
bil. of dol
Other labor income _ _ _ _ _ _ _ _ _ _ . d o
Proprietors' and rental income
do
Personal interest income and dividends^do_ .
Total transfer pavments. _ _ __
.do
Total nonagricultural income
do
178.5
113.0
114.8
49.4
31.8
14. 1
19.5
184.0
113.6
115.4
49.5
32.0
14.2
19.7
188.4
115.4
117.2
50.6
33.0
14.4
19.2
189.9
117.0
118.8
52.3
33.5
14 4
18.6
190.3
117.1
119.2
53.1
33.5
14 6
18.0
190. 7
117.5
119 6
53.2
33.7
14 6
18. 1
191.8
117 5
119 6
53 7
33 7
14 6
17 6
190.2
116 7
118 9
53 2
33 4
14 8
17 5
191.5
118.3
120 4
54 1
34.2
14 9
17 2
195.1
121 1
123 2
55 5
35 3
15 2
17 2
196.1
121 2
123 3
55 1
35 5
15 4
17 3
r 124 6
1.8
1.6
39.5
13.3
11.1
162.0
1.8
1.6
45.3
13.3
10.2
162.7
1.8
1.6
47.6
13.5
10.3
165.6
1.8
1.6
47.2
13.7
10.4
167.3
2. 1
1.6
46.6
13.9
11.1
168.2
21
1.7
46 8
14.0
10.7
168 5
2 1
17
47 7
14 0
10 9
168 8
2
1
46
14
10
167
21
18
46 9
14.0
10 5
169 2
21
18
47 6
14 1
10 5
171 9
21
18
47 8
14 2
11 1
172 3
2 i
18
r 45 9
r 14 3
2
7
9
0
9
8
r 194. 9
r 122 5
r 56 2
35 7
15 3
r 17 4
r 10 4
r 173 1
210.3
124 3
126 3
57 4
36 2
15 2
17 5
20
18
48 2
14 8
21 2
187 5
NEW PLANT AND EQUIPMENT
EXPENDITURES*
All industries, total
mil. of dol
Electric and gas utilities
._ . __
..do
Manufacturing and mining
do___
Railroad
.
. _do
Commercial and miscellaneous
do
3,310
280
1,810
160
1,070
3, 730
360
1,920
180
1,280
3 160
3 940
4 070
1 600
2,010
2 010
1 080
1,260
1 250
330
450
510
220
160
290
FARM INCOME AND MARKETINGS
Cash farm income, total, including Government
pavments*
mil of dol
Prom marketings and C. C. C. loans*
do
Crops*
_ _
do
Livestock and products*
. .
.do
Dairy products*
do
Meat animals* _ _ _ _ _ _
_
.do
Poultry and eggs*
do _
2, 123
2,110
1,211
899
342
302
236
3 401
3,386
1,862
1,524
343
875
288
of 1947 estimates are] based on anticipated capital expenditures of business,
regarding earlier data.
2 999
2,986
1,450
1,536
315
933
274
2 438
2,420
999
1,421
317
829
266
2 284
2,248
918
1,330
330
807
187
1 897
1,853
707
1,146
292
667
181
2 076
2,010
692
1 318
345
743
224
1 974
1,914
594
1 320
345
726
236
2 026
1,989
621
1 368
379
705
261
2 211
2,185
743
1 442
392
782
234
2 662
2, 657
1 205
1 452
382
785
251
2 510
2,505
1 187
1 318
353
711
232
•p o 054
3,049
1 497
1 552
334
958
944
for January 1945-May 1946 for farm income are available on request; see note in September 1947 Survey
SUKVEY OF CURRENT BUSINESS
S-2
Unless otherwise stated, statistics through
1941 and descriptive notes may be found
in the 1942 Supplement to the Survey
November 1947
1947
1946
September
October
November
December
January
February
March
April
May
June
July
August
September
GENERAL BUSINESS INDICATORS—Continued
FARM INCOME AND MARKETINGS— Con.
Indexes of cash income from marketings and
C. C. C. loans, unadjusted:
All commodities f
1935-39=100
Cropsf
do __
Livestockf
__
- - do.
Indexes of volume of farm marketings, unadjusted:
All commodities*
1935-39=100..
Crops*
do _
Livestock*
_ do
318
424
237
510
652
402
449
508
405
364
350
375
338
322
351
279
247
302
303
242
348
288
208
349
299
217
361
329
260
381
400
422
383
377
416
348
459
524
410
130
162
106
188
231
155
168
169
166
150
153
148
147
154
142
120
115
124
122
101
138
116
80
143
126
87
156
138
106
161
167
180
156
152
170
138
172
202
150
INDUSTRIAL PRODUCTION
Federal Reserve Index
184
184
183
180
184
185
187
185
185
185
178
185
P189
do
191
191
192
188
192
193
195
193
191
191
184
190
P195
Durable manufactures!
Iron and steelf
Lumber and products!
Furniture!
Lumber!
Machinery!
Nonferrous metals
and products!
Fabricatinor*
Smelting and refining*
Stone clay and glass products!
Cement
Clay products*
Glass containers!
Transportation equipment
Automobiles!!
do
do _
- do
do
- do
do
do
do
do
do
do
do
do
do
do _
214
185
147
152
144
261
172
176
161
212
188
155
270
240
188
215
184
142
155
136
268
184
191
167
209
181
158
258
237
185
214
178
139
157
131
271
192
198
176
207
175
155
254
235
187
209
159
129
160
114
276
197
203
182
203
161
158
247
235
187
218
192
126
161
107
277
202
209
184
208
148
156
273
229
181
220
191
135
167
118
277
206
213
190
205
154
156
255
233
190
223
196
140
166
126
281
200
202
196
209
157
159
269
239
197
222
195
143
161
134
276
196
193
203
208
166
160
263
237
193
219
197
145
158
138
273
187
182
198
206
148
162
269
225
179
220
193
149
143
275
179
176
187
209
183
163
254
233
191
208
181
141
155
133
266
'171
' 167
ISO
196
181
••160
225
217
185
'212
'188
'151
'161
' 147
'267
' 170
166
' 180
'205
193
' 165
241
P217
p 195
p 151
p 163
p 145
P274
P168
Nondurable manufactures!
Alcoholic beverages!
Chemicals!
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 pulo!
Petroleum and coa^ products!
Coke
Petroleum refining i
Printing and publishing!
Rubber products!
Textiles and products!
Cotton consumption
Rayon deliveries
"Wool textile production
Tobacco products
_ _
do
do
do
do
do
do
do ._
do
do
do
do
- do
do
do
-do
do
do
do
do
do
do
do
do
172
237
235
395
118
99
131
164
P151
37
315
150
144
p 181
166
172
221
240
402
117
98
130
158
f 120
117
216
152
146
p 179
167
174
196
244
411
123
114
129
158
P96
181
147
153
147
v 177
152
172
210
250
422
114
110
117
157
*>95
175
132
150
146
» 178
143
171
206
250
430
116
113
118
149
p95
191
1C2
156
150
p 180
171
171
195
252
429
123
127
121
140
*107
152
86
157
151
v 185
172
171
187
254
431
121
121
121
140
P 127
138
83
159
154
P 185
172
169
182
253
433
115
118
113
144
P161
139
88
156
150
f 179
166
169
167
252
435
113
119
109
149
P202
151
90
161
155
p 184
169
168
178
247
439
106
112
103
154
*229
150
101
160
155
P191
165
164
182
247
438
'99
'100
97
167
P229
146
172
145
140
p 195
161
' 173
181
'247
'431
115
114
116
' 177
P192
127
'261
' 156
' 151
P200
171
p 177
206
p251
P429
p 118
128
234
168
153
242
181
166
135
234
169
155
248
178
179
135
243
174
164
256
181
172
141
252
164
141
254
180
138
133
247
172
161
263
171
157
138
246
173
161
262
178
160
145
239
172
160
270
172
149
144
234
166
154
270
159
151
145
220
164
148
271
161
142
146
216
155
133
263
155
165
1 30
207
142
118
263
130
162
'r 139
209
154
130
267
P 156
165
P145
p212
p 158
130
P277
149
151
125
163
149
136
147
150
124
160
149
126
135
140
123
116
150
105
132
141
121
130
147
76
141
151
118
173
146
81
141
150
107
162
150
84
143
153
113
163
153
83
139
144
102
127
155
112
153
156
104
165
157
140
152
153
110
147
159
148
'145
144
93
117
160
'151
155
155
114
151
161
'152
P158
p 160
P122
p 161
p 163
Unadjusted, combined indexf
1935-39=100..
Manufactures"''
Minerals!
Fuels!
Anthracite!
Bituminous coal!
Crude petroleum
Metals
-
- do
... --do
do
.
do
do
do
r 160
r 212
P180
P185
p209
198
p 164
248
P223
p 193
P 12l
p 178
p 156
136
P266
157
150
170
172
do
180
182
183
182
189
189
190
187
185
184
176
182
p 185
_
do _ .
186
188
191
190
196
197
198
194
191
191
183
188
P191
Durable manufactures
Lumber and products
Lumber
Nonferrous metals
Smelting and refining*
Stone clay, and glass products
Cement
Clay products*
_
Glass containers
Nondurable manufactures
Alcoholic beverages
Chemicals
Leather and products
Leather tanning*
Manufactured food products
Dairy products
Meat packing
Processed fruits and vegetables*
Paper and products
Paper and pulp
Petroleum and coal products
Petroleum refining!
Printing and publishing
Textiles and products
Tobacco products
. .
do
-do
do __
do
do
-do
do
- do
do
do
do
do
do
do
do
do
- - do _.
do
_ do
do
do
do
do
do
- do _ _
212
137
129
172
161
204
162
150
265
165
227
235
119
101
136
p 143
38
143
150
144
f 181
214
136
127
184
168
200
156
149
250
168
206
238
117
97
146
v 146
115
167
152
146
p 179
214
142
135
192
175
202
162
150
251
173
213
243
121
110
156
P146
163
160
153
147
P 177
211
141
132
197
181
210
177
152
265
174
234
249
115
110
162
*>147
151
170
150
146
P 178
221
142
131
202
184
219
182
168
278
176
241
251
116
113
161
fUS
163
157
156
150
J> 180
222
147
137
206
190
219
203
164
263
176
223
251
120
118
156
P149
159
137
157
151
P185
225
147
138
200
195
218
192
165
269
175
208
251
122
122
157
P153
149
151
159
154
?185
222
144
135
196
203
211
175
164
263
172
189
251
116
119
158
»154
150
145
156
150
P 179
218
142
134
187
198
200
141
162
251
170
162
253
113
119
155
P152
151
138
161
155
P 184
219
142
133
179
188
207
171
257
168
159
250
107
114
154
p 155
152
132
160
155
P191
207
133
121
' 171
181
195
164
' 160
235
164
251
'101
' 106
155
P 157
156
132
146
140
P 195
'210
'143
'133
'170
'180
'198
171
' 161
231
'169
176
'251
116
115
156
*>147
145
' 138
' 157
r
151
P200
p 216
p 142
p 131
p 168
P185
P200
171
P158
243
p 171
198
P251
119
128
168
157
132
169
173
130
174
169
138
164
148
138
172
158
140
173
168
142
172
158
141
166
160
142
164
142
146
155
159
139
142
156
' 145
154
160
p 144
P158
163
Adjusted combined index!
Manufactures
r 164
r
163
p 155
p 148
146
p 137
157
151
148
150
' 140
146
148
151
137
146
143
153
145
136
146
Minerals
_ _ _ _. _ ._ _ _ do ..
122
122
'117
111
117
117
124
111
111
136
117
119
Metals
do
' Revised, p Preliminary. Jlndex is in process of revision.
*New series. Data beginning 1939 for the new series under industrial production are shown on pp. 18 and 19 of the December 1943 Survey. For a description of the indexes of the volume
of farm marketings and data for 1929-42, see pp. 23-32 of the April 1943 Survey; indexes since 1942 are from the U. S. Department of Agriculture.
!Revised series. For revisions for the indicated unadjusted indexes and all seasonally adjusted indexes for the industrial production series, see pp. 18-20 of December 1943 Survey; seasonal
adjustment factors for a number of industries were fixed at 100 beginning various months during 1929-42; data for these industries are shown only in the unadjusted series. Revisions for January 1945-May 1946 for the indexes of cash income from farm marketings are available on request; see note in September 1947 Survey, p. S-l, regarding earlier data.
SUEVEY OF CURRENT BUSINESS
November 1947
Unless otherwise stated, statistics through
1941 and descriptive notes may be found
in the 1942 Supplement to the Survey
S-3
1946
September
October
1947
November
December
January
February
March
April
May
July
June
August
September
GENERAL BUSINESS INDICATORS—Continued
MANUFACTURERS' ORDERS, SHIPMENTS,
AND INVENTORIES
New orders, index, total f
avg. month 1939=100
Durable goods industries
do
Iron and steel and their products
do _ _
Machinery, including electrical .
do
Other durable goods
_ _ _ _ _ _ _ _ _ _ do__ _
Nondurable goods industries
do
Shipments, index, total f
--- -do _
Durable good3 industries
do
Automobiles and equipment
do__
Iron and steel and their products
do
Machinery, including electrical _
do _
Nonferrous metals and products
do
Transportation equipment (cxc. autos).. ...do
Other durable goods industries. _ _
do _
Nondurable goods industries
do
Chemicals and allied products
_ _ _ do _
Food and kindred products
do
Paper and allied products
_ _
do_
Products of petroleum and coal
do
Rubber products
_ _ _
do
Textile-mile products
do
Other nondurable goods industries
do__
Inventories:
Index total
do
Durable goods industries
_
do _
Automobiles and equipment
do
Iron and steel and their products
do _
Machinery, including electricalf
_ _ do _ _
Nonferrous metals and products*
do
Transportation equipment (exc. autos) -do _ _
Other durable goods industries!
do _
Nondurable goods
_
_
do
Chemicals and allied products
do
Food and kindred products
_ _ _ _ do __
Paper and allied products
do
Petroleum refining
-do _
Rubber products
_ _
do _
Textile-mill products
_ _
_ do__
Other nondurable goods industries!
do
Estimated value of manufacturers' inventories*
mil. of dol__
228
254
281
321
173
212
240
259
216
229
289
276
531
247
227
223
244
222
209
311
207
218
228
248
267
318
173
215
244
262
217
228
287
289
506
263
231
224
248
225
203
333
217
221
233
254
274
314
186
221
267
278
235
237
315
319
503
270
260
250
306
242
219
313
221
240
241
271
294
326
204
223
276
292
255
232
346
340
561
271
266
255
306
248
232
352
219
251
240
270
295
308
215
222
274
292
246
246
326
335
572
283
260
264
291
255
224
290
213
254
254
295
327
344
224
229
290
311
267
256
364
366
567
290
275
277
309
273
229
315
228
267
249
288
319
336
217
226
288
312
268
263
364
366
547
290
272
278
301
268
236
322
222
263
241
279
308
316
219
219
288
320
276
268
366
371
597
300
265
278
282
276
244
311
209
265
235
256
273
294
209
222
283
313
258
265
368
365
600
286
262
265
282
273
252
300
199
263
245
271
304
315
202
230
292
323
280
274
395
349
669
268
271
265
298
277
263
301
216
265
190
206
258
134
268
163
708
141
176
174
184
181
129
204
171
189
197
211
263
137
276
167
739
144
184
180
195
183
132
212
174
200
200
215
259
137
284
167
781
147
187
185
199
183
134
215
173
207
204
220
256
138
290
166
819
153
190
195
202
185
133
216
174
208
209
226
269
140
299
179
816
156
195
199
206
187
134
238
177
217
213
232
284
142
306
182
860
159
197
204
203
192
133
250
178
221
217
238
298
143
316
184
897
165
199
211
202
196
136
262
183
222
222
244
300
145
326
184
928
170
203
222
201
201
139
273
188
223
226
251
314
150
334
186
959
172
204
228
199
206
142
282
189
222
228
254
321
153
339
186
966
172
205
227
194
218
145
291
186
228
18, 886
19, 533
19, 896
20, 259
20, 805
21, 176
21,612
22, 058
22, 424
22, 637
r
230
260
271
••194
r 213
271
287
264
251
r
231
260
285
304
199
213
r
282
r 301
252
r 271
r
340
T
r
r
496
r
r
r
r 969
291
r
259
260
252
292
250
263
351
r 3H
r
497
289
r
256
T 294
r
266
r 266
r 188
r 205
256
271
228
256
320
157
341
191
r
970
171
204
225
231
259
397
T
r
r 160
T
343
T iqi
'990
T 171
T
207
223
209
196
T
229
148
r 239
186
r Ig5
222
r
r
r
22, 706
152
218
' 22, 979
BUSINESS POPULATION
OPERATING BUSINESSES AND BUSINESS
TURN-OVER*
Operating businesses, total, end of quarter
thousandsContract construction
_
do
Manufacturing
_ _-_ _
do ._
Retail trade
do
Wholesale trade
_ _ _ _ _ do. _
Service industries
do
A l l other
_ _ _ _ _ _ _ _ _
__do _
New businesses, quarterly
do
Discontinued businesses, quarterly _ ___ _ do_ _
Business transfers, quarterly _ _ _ _ _ _ _ _ _ do___
3, 595. 3
241.9
298.8
1,661.8
165.7
681.9
545.1
146. 8
46.3
108.3
3, 657. 8
246.4
305.1
1, 694. 3
168.8
695 4
547.9
112 3
49.8
88.5
P 3, 726. 6
->256 6
p311 4
p 1 722 2
Pl73 3
P 709 7
P 553 3
P 12° 0
y
53 2
"126 8
INDUSTRIAL AND COMMERCIAL
FAILURES
Grand total
______
number
Commercial service
do
Construction
_ _ _ _
do
Manufacturing and mining
_ _ _ _ -do. _
Retail trade
do
Wholesale trade _ _ _ _ _ _ _ _
_do
Liabilities, grand total
thous. of dol__
Commercial service
do
Construction
_
_ do_
Manufacturing and mining
_ _
do
Retail trade
do
Wholesale trade
_ _ _
do_
96
11
17
32
28
8
4,877
311
1,368
2,510
367
321
123
11
14
60
21
17
6,400
147
500
4,975
352
426
104
13
9
38
36
8
12,511
3,202
136
8,492
392
289
141
14
18
58
35
16
17,105
801
266
7,217
1,025
7,796
202
17
15
67
76
27
15, 193
582
575
11,020
1,674
1,342
238
22
20
92
70
34
12, 976
651
766
7,654
1 396
2,509
254
21
13
108
88
24
15,251
758
341
11 336
1 169
1 647
277
23
16
117
84
37
16, 080
1 015
247
11 822
1 503
1 493
378
33
20
155
119
51
17, 326
739
321
10 971
3 037
2 258
283
21
23
95
108
36
18, 982
610
664
14 22C
1 614
1 874
299
30
17
107
105
40
37, 137
19 863
384
12 466
2 280
2 144
176
444
10 426
1 668
1 978
5 964
3,399
3,771
3,068
3,561
4,202
3,018
3 299
2 996
2 870
2 893
2 595
2 494
2 ci iy
287
90
19
99
44
14, 903
«CK
292
00
20
101
40
10, 034
OOQ
i 'ZQri
1 4O7
BUSINESS INCORPORATIONS
New incorporations (4 states)
number
r Revised, » Preliminary.
*New series. For estimated value of manufacturers' inventories for 1938-42, see p. 7 of the June 1942 Survey and p. S. 2 of the May 1943 issue. For data through 1944 for the series on operating businesses and business turnover, see pp. 21-23 of the May 1946 Survey and p. 10 of the May 1944 issue.
fRevised series. See notes marked "f" on PP- s~2 and s~3 of the September 1947 Survey for reference to revised data for manufacturers' orders, shipments and inventories.
SURVEY OF CURRENT BUSINESS
S-4
Unless other-wise stated, statistics through
1941 and descriptive notes may be found
in the 1942 Supplement to the Survey
November 1947
1947
1946
September
October
November
December
January
February
March
April
May
June
July
August
September
COMMODITY PRICES
PRICES RECEIVED AND PAID BY FARMERS
Prices received, all farm productsf-- 1909-14= 100. .
Crops
.do
Food grain.
.- _
do
Feed grain and hay
-do
Tobacco __ _
do
Cotton
do
Fruit
do
Truck crops
__ _ _
do
Oil-bearing crops..._do
Livestock and products
do
Meat animals
. _
do
Dairy products
__
do
Poultry and eggs
do
Prices paid:*
All commodities
..
1910-14=100
Commodities used in living _ _ . ._ .
do _ .
Commodities used in production
do
All commodities, interest and taxes
do
Parity ratio*
do
243
236
207
221
396
285
210
154
236
250
249
271
221
273
244
218
222
410
304
208
151
255
299
318
300
257
263
230
220
187
399
236
186
207
342
294
313
307
230
264
232
224
186
406
242
211
166
334
294
311
312
226
260
236
223
184
399
240
196
238
336
281
306
292
201
262
245
235
185
390
246
203
275
334
278
319
270
192
280
266
283
212
390
257
215
299
360
292
345
269
199
276
269
277
223
387
260
223
295
358
282
331
257
204
272
268
276
218
390
270
222
286
326
275
327
241
203
271
262
253
240
390
275
228
215
318
278
338
233
205
276
263
251
253
390
289
215
189
314
286
343
244
220
276
255
246
270
383
267
177
211
308
295
349
258
224
286
254
278
297
352
252
181
179
311
315
367
282
246
210
217
201
200
122
218
231
202
207
132
224
239
204
212
124
225
239
207
213
124
227
242
207
215
121
234
248
215
221
119
240
252
224
227
123
243
255
227
230
120
242
254
226
229
119
244
252
233
231
117
244
252
234
231
119
249
256
239
235
117
253
259
246
238
120
164.3
167.2
171.5
172.7
172.7
172.7
177.2
177.2
177.1
178.7
179.7
181.4
119.8
116.2
119.6
116.4
119.6
116.5
119.6
117.6
121.6
121.9
121.6
122.2
121.6
122.3
121.5
122.5
116.8
123.4
116.8
123.6
119.2
129.5
126.5
139. 2
145.9
165.9
174. 1
137.3
186.6
176.4
188.5
114.4
91.7
136.5
165.6
108.8
129.9
148.6
168.1
180.0
138. 5
202.4
176.5
190.7
114.4
91.6
136.6
168.5
152.2
171.0
187.7
140.6
198.5
184.5
203.6
114.8
91.8
137.2
171.0
153.3
176.5
185.9
141.7
200.9
185.0
197. 8
115.5
92.0
138. 3
177.1
131.0
132.5
136.1
153.3
179.0
183. 8
143.4
190.1
187.9
199.0
117.3
91.9
142.1
179.1
108.8
137. 1
153.2
181.5
182.3
144.1
183.2
191.7
196.7
117.5
92.2
142.3
180.8
108.9
137.4
156. 3
184.3
189. 5
148.1
187. 5
199.6
207.6
117.6
92.2
142.5
182.3
109.0
138.2
156.2
184.9
188.0
153.4
178.9
200.4
202.6
118.4
92.5
143.8
182.5
109.0
139.2
156.0
185.0
187.6
154.2
171.5
207.0
203.9
117.7
92.4
142.4
181.9
109.2
139.0
157.1
185.7
190.5
154. 6
171.5
205.0
216.9
117.7
91.7
143.0
182.6
109.2
139.1
158.4
184. 7
193. 1
155.0
178.8
202.0
220.2
119.5
91.7
146.6
184.3
110.0
139.5
160. 3
185.9
196. 5
157.0
183.8
199.8
228.4
123. 8
92.0
154.8
184.2
111.2
139.8
124.0
134.1
139.7
140.9
141.5
144.5
149.5
147.7
147.1
148.0
150.8
153.6
157. 4
117.2
141.4
115.0
154.3
170.6
150.4
117.2
131.9
127.4
169.1
115.5
131. 3
129.6
148.7
118.2
165.3
174.2
174. 6
127.1
157.9
128.5
185.5
122. 5
191.4
134.7
153.4
129.1
169.8
165.4
197.4
132.9
165.4
136.1
182.9
139.5
202. 8
135. 7
153.2
136.2
168.1
163.0
194.7
134. 8
160.1
139. 5
180.0
134.5
188.2
136.7
152.1
138. 8
165. 0
162.6
189.6
136. 1
156.2
139.9
164.6
131.6
183.4
139.7
154.9
142. 1
170.4
171.1
201.5
138.6
162.0
141.3
161.8
134.2
199.5
143.3
163.2
145.9
182.6
203.3
216.0
142. 1
167.6
150.4
157.6
141.5
207.3
141.9
160.1
144.5
177.0
199.8
199.2
141.0
162.4
154. 1
148.8
142.2
196.7
141.7
158.6
144.9
175.7
202.4
198.7
140.6
159.8
151.7
138.8
144.3
203.0
141.7
160.2
145. 9
177.9
206.0
200.9
140.7
161.8
149.2
140.9
145.2
208. 6
144.0
165.3
147.0
181.4
202.3
209.9
143.6
167.1
1 54. 7
152.8
139. 7
217.9
147.6
167.0
149.5
181.7
208.8
215.9
147.2
172.3
153.3
164. 3
133.0
234.6
151.6
170.8
151.9
186.4
230.3
224.8
150. 8
179.3
158.7
170.6
130.1
244.8
RETAIL PRICES
All commodities (U. S. Department of Commerce
index)
1935-39 — 100
Coal (U. S. Department of Labor indexes):
Anthracite
1923-25=100,Bituminous
do
Consumers' price index (U. S. Department of
Labor) :§
Combined index
1935-39—100
Apparel
do
Food
do
Cereals and bakery products*
do
Dairy products*
do
Fruits and vegetables*
do
Meats* *
do
Fuel electricity, and ice
do
Gas and electricity*
do
Other fuels and ice*_- . _ _ __
do .
Housefurnishings
do
Rent *J
do
Miscellaneous
do
p 128. 3
p 139. 5
WHOLESALE PRICES
U. S. Department of Labor indexes:
Combined indexcf
1926=100
Economic classes:
Manufactured productscf
-do
Raw materials
- --do _ _ Semimanufactured articles
do_
Farm products
- - - do
Grains
do
Livestock and poultry
do
Commodities other than farm products of- -do
Poods
- -do
Cereal products
do
Dairy products
-- _ do
Fruits and vegetables
do
Meats
do
Commodities other than farm products and
foods d"
1926=100
Building materials
__ __
do
Brick and tile
do_ _.
Cement
do
Lumber
do
Paint and paint materials.
-do
Chemicals and allied products!
do
Chemicals
do
Drug and
pharmaceutical
materials!-do
Fertilize1* materials
do
Oils and fats
do
Fuel and lighting materials
-do
131.4
136.0
133.4
120.7
131.9
112.2
127.6
128.5
131.1
131.8
115.8
124.7
138.2
174.4
179.7
177.0
175.7
178.8
145.5
133.8
134. 8
157.8
169.7
174.8
177.5
183.3
144.3
134.7
143. 3
134.5
134.5
132. 3
132.2
132.4
145. 4
129.1
130.0
127. 7
127.8
116.9
114.3
114.9
114.0
114.0
107.0
106. 9
106. 5
106.5
108.3
109.9
112.3
119.0
266. 1
276.7
269.4
269.0
273.5
192. 1
227.2
263.6
178.2
249.9
269.3
178.9
285.7
154. 9
169.2
159.6
156.1
175.5
176.1
151.3
155.4
171.2
173.9
157. 9
116.7
119. 2
120.2
117.5
127.1
118.8
133.2
118.9
129.3
132.2
98.4
125.7
128.1
121.3
99.9
119.9
117.5
118.7
118.7
119.5
106.9
112.7
113.8
118.2
98.6
111.8
114.5
98.8
156.1
137. 4
173.6
136. 6
152. 8
181.2
182.5
181.0
181.7
182.7
136.6
110.3
111.5
103.5
105. 5
101.8
102.5
101.2
95. 1
99.2
96.3
99.9
109.8
90.2
101.8
91.9
139. 2
134.8
133. 3
179.9
220.1
155. 6
191.0
210.6
231.5
111. 1
203.0
214.3
103. 3
103. 9
108.9
112.5
103.3
103.4
114.1
96. 1
94.5
97.7
97.9
100.7
94.2
94.3
64.1
64.4
65.0
65.2
64.3
64.9
65.7
64.3
65.8
64. 1
64.7
86.0
85.0
85.8
85.5
84.0
84.4
83.1
84.3
80.8
84.9
80.6
80.8
Gas
do
92.2
87.5
86.8
89.8
86.3
76.6
73.4
75.8
76.5
81.7
93.7
73. 1
73.0
Petroleum products
do
173.2
182.1
178.4
166.4
170.8
184.8
172.5
176.7
175.1
173.8
174.6
141.6
142.4
Hides and leather products
do
187.1
215.6
177.7
203.5
178.1
221. 1
221.0
191.4
192.2
216.5
198.5
151.5
153.0
Hides and skins
do
176. 3
190.7
187.4
178.9
158.0
197.4
181.6
181.1
178.1
185.0
183.7
138.5
138.5
Leather
do
174.9
172.6
173.2
172.2
172.1
175. 2
171.5
162.9
169.9
171.5
145.2
170. 6
144.8
Shoes
do _
129.2
129.7
128.8
129.8
118.2
127.4
120.2
124.6
125.8
130.6
123.3
115.3
113.6
Housefurnishing goods
.. _ _ .
..do ._.
137.2
138.1
138.1
136.9
134.4
128.4
129.6
131.4
138.5
124.4
126.3
121.3
119.4
Furnishings
do
120.9
120.9
121.1
120.3
118.2
119.5
120.0
122.4
111.8
113.9
120.0
109.2
107.5
Furniture
"
do
148,9
142.6
143.8
141.4
140.3
130.2
137.9
139.9
150.7
134.7
138.0
125.8
114.2
Metals and metal productscf
do
131.4
133.3
139.4
128.
6
127.6
140.4
117.4
123.9
125.0
126.9
114.0
113.5
113.7
Iron and steel
do
141.8
143.9
142.9
141.8
141.0
118.4
131.3
139.0
142.0
130. 5
129.3
101.8
101.4
M^etals nonferrous
do
123.4
128.6
119.1
118.2
120.0
135.9
Plumbing and heating equipment. ..do— .
107.2
107.2
107.2
114.9
117.0
117.1
117.9
'Revised. » Preliminary. § Formerly designated "cost of living" index,
cf Current prices of motor vehicles were introduced into the calculations beginning October 1946; April 1942 prices were ca rried forw£ird in earli er comput ations; see previous is sues of the
Survey for explanation and for October 1946- August 1947 indexes using April 1942 prices; September 1947 indexes using April 1942 prices are as foliows: All co mmodities , 155.0; ma nufactured
products 147 7' commodities other than farm products, 147.9; commodities other than farm products and foods, 134.4; metals a nd metal i roducts, K33.4.
m T>~/^ ™TV;^I™ T™™ ino^annafo for Hor»tomhpr and October 1946 and latest, nrices were carried forward in some cases: No\^ember ind ex reflects full price c hange froni August.
beginning
1935'for the indexes of retail prices of "gas and electricity" and "other fuels and ice" will be published later.
g
f Raised series Indexes of prices received by farmers for 1913-45 are shown on pp. 17-19 of the April 1947 Survey; data for October 15, 1947, are as follows: Total 289; crops, 261; food
grain 302- feed grain and hay 284'tobacco, 357; cotton, 247 fruit, 166; truck crops, 238; oil-bearing crops, 344; livestock and products, 313; meat animals, 360; dairy, 283; poultry and eggs, 251.
For revised data for 1941-43 for the indicated series on wholesale prices, see p. 23 of the November 1945 Survey.
SURVEY OF CURRENT BUSINESS
November 1047
Unless otherwise stated, statistics through
1941 and descriptive notes may be found
in the 1942 Supplement to the Survey
S-5
1947
1946
September
October
November
December
January
February
March
April
May
June
July
August
September
COMMODITY PRICES—Continued
WHOLESALE PRICES— Continued
TL S. Department of Labor indexes— Continued
Commodities other than farm, etc— Con.
Textile products
1926=100-Clothing
do_- Cotton goods
do
Hosiery and underwear
do
Rayon
do
Silk
_
do
Woolen and worsted goods
do
Miscellaneous
do
Automobile tires and tubes
do
Paper and pulp
_ _ ._- ___do_- Wholesale prices, actual. (See respective commodities.)
125.7
122.9
166.6
88.7
30.2
126.5
113.9
102.1
73.0
121.9
128.6
125.5
172.9
88.8
30.2
125.7
116.6
104.0
73.0
124.6
131.6
127.9
174.7
89 3
32.0
115.0
117.7
106 5
73.0
127.7
134.7
129.8
181.6
96.9
33.8
103. 2
119.0
108.9
73.0
136.4
136.6
132.4
184.6
99.3
33.8
101.2
120.8
110 3
73.0
141.9
138.0
132.7
193.7
100.0
37.0
80.2
121.9
110 9
73.0
143.4
139.6
133.0
196.6
100 8
37.0
73.2
127.5
115 3
73.0
145.1
139.2
133.0
194.7
100 8
37.0
69.4
129. 1
115 7
73.0
152.5
138.9
133.9
193.0
100 8
37.0
67.9
129.2
116 1
73.0
154.3
138.9
133.9
193.8
100 8
37.0
68.4
129.2
112 7
62.5
154.2
139.5
134.3
195.9
100 4
37.0
68.2
130.1
113 0
60.8
157.2
140.8
134.3
199 2
99 9
37 0
68.2
133.3
112 7
60.8
157.6
142.0
134.4
202 3
99 9
37 0
68.3
133. 8
115 9
60. 8
159.5
64.8
68.5
57.3
43.8
60.0
67.3
55.5
39.0
57.6
65.7
53.2
40.4
57.1
65.2
53.7
40.3
56.9
65.2
54.3
41.0
55.7
65.3
54.8
40.7
53.8
64 0
52.7
38 0
54.5
64 0
53.1
38 5
54.7
64 1
53.2
39 2
54 4
63 6
52 4
39 3
53 3
63 1
51 7
38 5
52
62
50
38
4
4
8
5
51 1
37 2
PURCHASING POWER OF THE DOLLAR
As measured byWholesale prices
.
Consumers' prices
Retail food prices
Prices received by farmersf
- .-1935-39=100-do
_ _ _
_ do do
CONSTRUCTION AND REAL ESTATE
CONSTRUCTION ACTIVITY*
New construction, total
mil. of dol
Private, total
- - _ .do - _ .
Residential (nonfarm)
do
Nonrcsidential building, except farm and public
utility total
mil. of dol
Industrial
do
Farm construction
do
Public utility
do - _ _
Public construction, total
do
Residential
-do- _
Military and naval
do
Nonresidential building, total
_ - do_
Industrial
do
Highway
do _.
All other
do
1,066
800
356
1,070
788
347
987
745
335
905
711
320
839
666
300
795
634
284
826
648
285
876
662
306
955
722
342
1 070
1 161
r 1 249
876
429
r 937
1 259
811
387
r 461
957
485
315
167
50
79
266
54
16
35
9
93
68
318
171
40
83
282
66
20
32
9
99
65
308
171
20
82
242
68
17
27
7
76
54
296
166
10
85
194
51
16
23
5
57
47
275
159
10
81
173
39
12
33
5
37
52
260
152
10
80
161
33
12
32
3
34
50
247
146
20
96
178
24
12
36
3
48
58
240
142
30
86
214
16
15
41
4
75
67
245
141
40
95
233
9
15
41
3
95
73
254
140
50
120
259
6
15
42
2
117
79
259
139
60
128
285
9
19
44
2
128
85
r 266
r 139
36, 902
619, 857
186, 882
432, 975
33, 342
573, 206
133, 806
439, 400
27, 149
503, 745
130, 329
373, 416
25, 536
457, 278
108, 920
348, 358
27, 619
571, 628
166 672
404, 956
24, 321
442, 197
95 770
346, 427
32, 268
596 755
143 316
453 439
29, 957
602 338
177 272
425 066
3,648
25, 929
169, 627
3,696
33, 932
225, 355
3,609
23, 708
160, 871
2,857
19, 656
148, 014
3,096
25 700
200, 312
3,006
21 488
143 258
3,670
3,905
4,554
4,355
22 242
191 903
26 034
184 317
30 238
235 899
27 561
209 942
4,912
32 123
253 512
4,915
41 682
290 807
4,213
24 114
239' 915
31,458
47, 121
293, 831
28, 128
36, 910
235, 068
22, 251
33, 530
221, 113
21, 704
29, 975
193, 365
23, 593
39, 279
257, 419
20, 440
32, 469
208 391
27 414
42, 991
282 881
24 284
39, 006
256 668
21 255
42' 672
254 085
17 604
29 213
209 458
21 568
36 774
240 885
24 789
47 805
308 937
21 154
30 037
268 543
1,557
107, 941
1,271
75, 535
1,018
82, 626
746
62, 652
681
80, 721
665
59, 806
918
1 509
123, 249
1 607
77, 926
119,713
1 744
142, 495
1 910
127, 454
1 761
137, 471
1 522
110, 556
239
48, 458
247
37, 248
271
39, 135
229
53, 247
249
33, 176
210
30, 742
266
44, 045
259
38, 104
353
64, 960
341
43, 175
344
38, 403
420
86, 001
296
30, 982
152
147
151
147
138
136
145
140
125
118
139
122
125
122
154
143
120
119
146
144
131
135
151
152
133
152
r J73
r 148
373, 056
488, 457
275, 825
352, 855
430, 970
356, 491
3,382
490
1,678
1,214
3,182
104
1,957
1,121
3 239
138
1,970
1,130
2 306
55
1,661
590
1 343
26
606
711
275
140
6*5
132
302
9
21
45
1
140
87
75
r 135
r 305
9
r 22
45
r1
r 139
90
CONTRACT AWARDS
Contract awards, 37 States (F. W. Dodge Corp.):
Total projects
_
- - - - number. _
Total valuation
thous. of dol Public ownership
do
Private ownership
do Nonresidential buildings:
Projects
number. Floor area
thous. of sq ft
Valuation
thous. of dol
Residential buildings:
Projects
- number
Floor area
_ _ - . thous. of sq. ft- _
Valuation
_
thous. of doL
Public works:
Projects
_ _ _ _ _ _ - _ - ^number.Valuation
thous. of doL.
Utilities:
Projects
number
Valuation
thous. of doLValue of contracts awarded (F. R. indexes):
Total, unadjusted
__
1923-25=100.Residential, unadjusted^- - _ _ _ _ _ _ do _ _ _
Total, adjusted _ _ _
_ __ _ _
do_ _
Residential, adjusted
do _ _
Engineering construction:
Contract awards (E. N. R.)§
thous. of dol_.
Highway concrete pavement contract awards:!
Total
thous. of sq. yd
Airports
_
do _
Roads
do
Streets and alleys __ _ _ _
do ._
27
674
233
440
769
657
873
784
24
605
226
378
044
070
471
599
28
660
202
457
734
254
571
683
144
133
123
153
158
170
130
127
110
127
136
116
138
155
136
400, 415
454, 471
514, 343
517, 175
524, 238
1 463
1
1 081
2 438
5 280
3 828
4 228
5 Qn
r 382
808
135
132
129
52
513
35
212
1 578
3 167
1 600
2 607
1 186
2 456
1 560
169
2 452
2 390
31
823
217
605
885
216
811
405
27
649
192
457
185
996
660
336
T 166
150
413, 494
3
494, 805
0QC
79
1 468
1 737
1 fi'*
1 1 ^i
1 AKA
PERMIT VALUATIONS AND DWELLING
UNITS PROVIDED
Estimated number of new nonfarm dwelling units
scheduled to be started (U. S. Dept. of Labor):
Total non_arm*c? _ _ _
-_- _number__ r' 67, 200 ' 60, 900 T 47, 700 r 37 100 r 40 800 T 45 500 r 63 100
04 son
73 500
74 500
83 300
83 400
90 t400
ci ir\A
Urban, totalfcf
do
42 563
37, 401
28, 661
27 074
21 369
25 383
37 649
42 862
41 138
r 47 153
46 999
r 47 117
35, 044
42 534
Privately financed, total
_- _ _do_ _ _
36, 067
28, 539
21, 369
24, 299
27 074
37 158
41 138
45 994
51 112
33 g70
on' 990
35 214
1-family dwellings
do
29, 335
29, 576
23 747
17 469
OR Q^O
20 537
22 156
30 615
34 627
1,899
2-family dwellings
do
2,050
1,594
3 478
977
1 496
1 615
2 448
3 142
3 085
r 3 053
3 519
Q q«7
Multifamily dwellings 1 _
do_ _ _
3,659
4,592
3,198
2,923
2,266
3 303
4 095
4 178
7 121
4 383
7 889
n
1.334
122
0
1.084
4Q1
298
QR
n
i fin*
1QO
iTfr
»• 7. 519
Publiclv financed, totalrf _ _ do
p
'Revised.
Preliminary.
§ Data for August and October 1946 and January, May, and July, 1947 are for 5 weeks; other months, 4 weeks.
t Based on weekly data combined into 4- and 5-week periods except that a week falling in December and January is prorated; see note in February 1947 Survey
* New series. Estimates of total nonfarm dwelling units for 1910-44 are shown on p. 15 of the November 1946 Survey. Monthly estimates of new construction activity for 1939-45 and
annual estimates for 1915-46 are shown on pp. 23 and 24 of the July 1947 Survey.
t Revised series. The index of purchasing power of the dollar based on prices received by farmers was revised in the April 1944 Survey. Data for 1920-44 for the number of new dwelling
units are shown on p. 15 of the November 1946 Survey (see note in February 1947 Survey with regard to January and February 1945 figures); since early 1945 data for new dwelling units and the
indexes of building construction on p. S-6 should be considered volume of construction for which permits were issued or contracts awarded rather than volume started (see note in Julv 1947
Survey.
cf1 Revisions for January to^August 1946: Total nonfarm—46,600, 53,000, 83,100,84,200, 86,000,80,300,80,500,83,900; urban total—31,539,35,334,57,665,56,204,58,261,52,062,52,174,55,106; pub-
r
SUEVEY OF CURRENT BUSINESS
S-6
November 1947
1947
1946
Unless otherwise stated, statistics through
1941 and descriptive notes may be found
in the 1942 Supplement to the Survey
September
October
November
December
January
February
March
April
May
June
July
August
September
CONSTRUCTION AND REAL ESTATE—Continued
PERMIT VALUATIONS, ETC.— Continued
Indexes of building construction, based on building
permits (U. S. Dept. of Labor) :J
Number of new dwelling units provided
1935-39=100-.
Permit valuation:
Total building construction
_
do
New residential buildings
do._ _
New nonresidential buildings
do
Additions, alterations, and repairs
do
«• 245. 4
215.7
165.3
123.2
146.4
156.1
217.1
247.2
237.2
271.0
271.9
' 295. 9
300.2
' 198. 3
' 237. 4
' 122. 2
' 195. 3
191.4
286.2
108.4
192.9
153.2
222.5
99.2
137.3
129.4
162.0
97.0
140.0
151.8
196.7
107.7
164.8
158.3
207.6
111.5
168.9
218.5
308.8
141.8
214.1
251. 6
359.1
159.4
248.7
244.2
338.5
163.5
241.4
278.2
387.7
180.9
284.2
306.1
405.4
217.8
311.5
r
r
r
318 3
457.9
205. 6
296.5
342
367
347
317
332
347
372
353
320
337
352
377
356
323
344
371
399
375
343
367
381
410
390
353
375
390
419
403
364
383
404
434
420
379
396
414
444
427
390
403
419
448
432
392
105
427
448
438
396
421
437
458
442
409
430
446
470
448
417
441
452
475
452
424
446
267
267
270
276
277
280
282
286
290
294
295
300
307
143.0
181.9
164.3
165.3
144.0
182.3
164.8
165.8
144.9
183.4
155.9
167.2
145.7
1&3.9
167.3
168.5
148.8
194.7
172.4
173.9
153.4
196.2
174.2
175.8
154.4
204.7
177.8
178.0
155.1
205.6
178.1
178.3
155. 4
205.9
178.4
182.8
160.3
211.2
186.6
187.8
162.4
215.5
188.9
189.9
164.1
216.4
192.5
191.2
165.0
218.5
195.4
192.2
144.7
184.8
167.2
167.0
146.0
185.1
167.6
167.2
146 6
185.9
168.4
168.3
147.1
186. 2
169.4
169.3
149.9
193.5
174.6
175.2
152.0
194.4
175.7
176.4
153.5
205.9
180.4
179.0
154.1
206.8
180.6
179.2
154.3
207.0
180.8
185.4
159.6
212.5
190.6
187.8
161.2
214.9
192.4
189.4
162.3
216.0
197.4
190.8
163.0
217.4
199.6
191.5
142.2
179.9
168.2
164.7
142.7
180.3
168.6
164.9
143.9
182.3
169.8
166.5
145.8
183. G
172.5
169.5
148.8
191.1
176.1
172.8
153.1
192. 9
178.4
175.3
153.5
202.4
180.7
176.9
154.2
203.4
180.9
177.1
154.4
203.6
181.1
182.1
158.8
206.6
188.0
187.5
161.4
209.4
190.8
190.1
165.0
210.4
195.7
192.3
165.8
213.8
198.9
193.4
155.6
188.0
166.0
174.6
156.2
188.9
166.4
174.9
159.2
192.6
169.6
178.9
161.9
195.4
173.2
183.4
165.8
204.7
177.0
187.6
178.7
211.2
185.6
196.9
179.2
217.6
188.6
199.1
180. 2
219.1
188.8
199.3
180.4
219.3
189.0
202.2
184.0
223.4
195.1
205.6
185.4
225.5
196.7
207.0
185.6
225. 9
198.4
207.5
186.9
228.7
207.1
210.7
156.5
188.5
163.1
175.1
157.0
189.7
163. 5
175.4
160.8
194.4
166.8
179.8
164.2
198.0
170.8
183.8
166.8
208.9
173.9
187.0
182.9
217.2
184.9
198.9
183.3
220.8
187.0
200.3
183.9
221.6
187.2
200.5
184.1
221.8
187.4
202.2
187.9
225.0
194.0
207.2
189.3
227.1
195.6
208.6
189.5
227. 5
196.3
209.0
191.0
231.0
206.2
213.0
273.0
360.9
274.0
362.5
278.8
368.1
289.1
381.7
297.7
390.8
298.8
392.0
3C0.8
396.1
299.6
396.5
303.1
403.3
304.9
406.5
313.0
415.0
317.1
417.8
320.6
424.4
151.8
148 0
159.3
154.0
150.3
161.6
156.7
153. 6
163.1
159.8
158.6
164.8
167.0
168.2
166.8
173.8
177.6
168.6
179.6
185.6
170.2
182.5
188.8
172.4
183.7
189.1
175.5
184.8
189.0
179,2
185.1
188.5
181.0
6,818
7,473
323 5
447. 9
232 4
' 279. 9
CONSTRUCTION COST INDEXES
Aberthaw (industrial building)
_
. 1914=100
American Appraisal Co.:
Average 30 cities
..1913=100 _
Atlanta
-- do _ _
New York
do
San Francisco
do St Louis
..
do
Associated General Contractors (all types)
1913=100-.
E. H. Boeckh and Associates, Inc.:
Apartments, hotels, and office buildings:
Brick and concrete:
A tlan ta
U.S. average 1926-29 — 100 _ New York
__ -do
San Frsncisco
do
St Louis
do
Commercial and factory buildings:
Brick and concrete:
Atlanta
- - -do .__
New York
do
San Francisco
- -do __
St Louis
_do
Brick and steel:
Atlanta
_
do
New York
-do _
San Francisco
do
St Louis
-do
Residences:
Brick:
Atlanta
- - do
New York
do _
San Francisco
do _
St Louis
do
Frame:
Atlanta
do
New York
do
San Francisco
do
St Louis
- - do _
Engineering News-Record:
Building*
- __1913=100_Con^truction (all types)
do
Federal Home Loan Bank Administration:
Standard 6-room frame house :f
Combined index
1935-39=100
Materials
do
Labor
do
REAL ESTATE
Fed. Hous. Admn., home mortgage insurance:
Premium-paying mortgages (cumulative)
mils, of dol_ _
Estimated total nonfarm mortgages recorded
($20 000 and under)*
thous. of dol
Estimated new mortgage loans by all savings and
loan associations, total _
thous. of dol__
Classified according to purpose:
Mortgage loans on homes:
Construction
do
Home purchase
do
Refinancing
do
Repairs and reconditioning
_ __do __
Loans for all other purposes
do
Loans outstanding of agencies under the Home
Loan Bank Board:
Federal Home Loan Banks, outstanding advances
to member institutions
mils, of dol__ Home Owners' Loan Corporation, balance of
loans outstanding
mils, of doL_
Foreclosures, nonfarm. index, adjusted!
1935-39—100
Fire losses
thous. of dol.
300
287
304
300
304
6,855
6,885
6,921
6,959
6,995
7,036
7,087
7,147
7,217
7,295
7,377
928, 878 1, 006, 681
869, 489
836, 404
847, 043
770, 095
858, 675
941, 020
965, 733
947, 357
994, 787
988, 446
309, 791
326, 199
271, 476
253, 701
250, 016
241, 263
288, 221
313,636
335, 074
323, 368
353, 105
351, 757
356, 871
55. 354
198, 842
21, 546
8,027
26, 022
60, 931
207, 139
24, 376
9,061
24, 692
51, 187
170, 162
21, 625
7,034
21, 468
50, 233
151, 848
22, 116
6,040
23, 464
51, 145
145. 253
22, 599
6,795
24, 204
52, 723
133, 399
22, 529
7,091
25, 521
61, 543
161, 694
25, 916
9,665
29, 403
70, 214
176, 395
26, 149
10, 788
30, 090
78,612
186, 148
28, 383
11, 558
30, 373
69, 700
184,626
28, 948
11, 963
28, 131
85, 867
194, 057
28, 936
13, 410
30, 835
83, 355
200, 183
25, 263
13,018
29, 938
86, 097
203. 443
27, 322
12, 297
27, 712
235
253
258
293
251
242
236
245
257
289
292
314
336
682
665
651
636
621
609
596
582
570
557
544
532
520
7o
40, 256
7 4
40, 108
9.7
44, 706
86
58, 094
8.6
57, 180
8.5
64, 247
9.3
72, 435
7.8
68, 029
8.0
56, 545
8.7
50, 840
49, 357
51, 359
47, 990
263
288
323
210
217
292
278
303
333
222
272
294
281
320
340
229
295
287
284
331
342
233
287
289
263
283
298
215
303
285
259
308
280
210
319
291
DOMESTIC TRADE
ADVERTISING
Advertising indexes, adjusted:!
P».i'T^i-£»T-c'
T-nlr rinmViinPrl inflpY
IQ^'l 3Q — 100
IVIagazines
do
Outdoor
Radio
do
do
237
236
295
158
202
296
252
239
304
158
238
297
273
265
311
154
205
302
269
243
303
158
201
306
236
278
271
172
183
289
245
281
287
193
213
289
r
Revised.
JRevisions for January 1940-December 1945 are available on request; see also latter part of note marked "f" on p. S-5.
tReViSed Series
JVCVlSlOnS lOr ine index OI nulliarill lUreClUsUit'S lux iy±u—^tl aie SJJUWll un p. o u vji tuc xvidj' iCFtto om v c j .
J.IJ.U.CACO ui av_i v ci ticuiig, nuija -L nnuiuo -m-tv u a v c uee.u uuiJ-HJicteij'
revised and all series are now based on dollar costs; data beginning 1935 and a description of the indexes will be published later. The indexes of cost of the standard 6-room frame house are
shown on a revised basis beginning -in the April 1946 Survey; revisions beginning November 1935 will be published later; the indexes were discontinued after June 1947.
SURVEY OF CTJRKENT BUSINESS
November 1947
Unless otherwise stated, statistics through
1941 and descriptive notes may be found
in the 1942 Supplement to the Survey
S-7
1947
1946
September
October
November
December
January
February
March
April
May
June
July
August
September
DOMESTIC TRADE—Continued
ADVERTI SING—Continued
202.0
189.1
195.6
189.9
205.7
201.0
194.2
197.1
196.2
202.9
218.3
225.9
15, 133
666
80
266
356
3,927
536
168
1,375
1,219
5,004
1,536
16, 741
622
84
254
364
4,512
520
168
1,575
1,407
5,306
1,929
16, 338
654
105
268
387
4,396
530
159
1,490
1,373
5, 123
1,855
16, 800
731
112
252
428
4,379
583
165
1,574
1, 390
5,316
1,870
16, 548
670
100
273
444
4,357
546
169
1,642
1,355
5,148
1,845
15, 102
629
99
224
458
3,924
507
153
1,555
1,257
4,568
1,726
16, 728
740
123
249
532
4,344
541
175
1,685
1,397
5,007
1,934
15, 548
595
98
284
508
4,049
467
155
1,729
1,308
4,714
1,641
16, 009
573
111
301
412
4,120
499
177
1,762
1,433
4,744
1,877
14, 994
505
100
275
400
3,883
499
167
1,690
1,430
4,431
1,613
14, 227
441
130
314
381
4,092
432
172
1, 649
1, 595
3,888
1,132
14, 470
481
187
278
393
4,199
439
172
1,577
1,568
3,857
1,318
36, 506
2,425
4,883
1,145
695
3,660
526
2,426
674
1,053
916
5,226
12, 876
5,308
39, 463
2,503
4,831
1,161
629
4,394
715
2,772
779
896
1,095
6,172
13, 515
5,420
42, 565
2,755
4,449
1,315
745
4,993
716
2,753
667
1,025
1,252
6,694
15, 199
5,213
36, 232
1,499
3,456
1,080
608
4,172
218
2,408
455
992
1,277
5,779
14, 287
3,783
23, 963
1,383
1,826
466
505
3,931
160
1,147
407
369
920
3,411
9,438
3,952
32, 109
1,576
3,345
740
566
5,033
250
1,641
760
551
829
5,137
11,683
4,580
42, 617
2,325
5,277
1,169
666
6,068
536
2,687
916
863
1,069
6,086
14, 956
5,102
40, 816
2,262
4,663
1,288
659
4,926
600
3,292
1,016
624
887
5,924
14, 677
4,703
42, 801
2,601
4,661
1,541
698
5,246
627
3,530
1,182
995
860
6,120
14, 740
4,332
40, 033
2,772
3 125
1,376
654
5,348
683
2,b67
1,173
<63
1,125
5,926
14,421
3,413
3,377
4,132
152, 871
39, 018
113, 853
3,495
1,877
22, 067
86, 414
165, 014
39, 628
125, 386
4,480
2,197
27, 207
91, 502
164, 120
36, 772
127, 348
4,675
2,025
26, 596
94, 052
163, 257
34, 404
128, 853
3, 415
1,894
22, 388
101, 155
139, 894
36, 223
103, 671
3,556
2,511
19, 895
77, 709
139, 993
34, 588
105, 405
4,097
1,767
22, 323
77, 218
167, 384
39, 437
127, 948
5,537
2,157
27, 163
93, 090
168, 445
39, 580
128, 865
6,473
2,008
28, 100
92, 283
172, 376
41,301
131,075
6,512
1,950
28, 210
94, 403
163, 130
39, 341
123, 789
7,014
1,933
26,011
88, 831
145, 263
37, 778
107, 485
6,214
2,299
22. 467
76, 505
157, 980
40, 625
117, 355
6,107
1,769
22, 881
86, 597
'86.4
87.6
88.2
88.8
89.6
88.8
88.9
88.7
89.2
88.7
88.1
'88.3
thousands
thous. of dol
4,167
101, 169
4,575
107, 822
4,253
95, 112
4,447
93, 691
4,477
95, 899
4,147
90, 036
4,863
108, 862
4,579
97, 079
4,280
89, 824
4,177
87, 284
4,334
87, 320
3,822
81, 664
4,041
89, 874
thousands.
thous. of doL.
13, 125
185, 779
15, 649
219, 270
14, 042
193, 807
13, 932
189, 903
14, 086
193, 877
12,691
186, 444
14, 755
210, 579
14, 651
195, 527
13, 771
188, 244
16, 948
178, 353
13, 253
186, 565
12, 587
166, 697
13, 334
197, 141
Tide advertising index, adjusted*
1935-39=100
Radio advertising:
Cost of facilities, total _
_
thous. of dol
Automobiles and accessories
do
Clothing
do
Electric household equipment
do
Financial
do
Foods, food beverages, confections
do _
Gasoline and oil
do
Hotisefurnishings, etc
do
Soap, cleansers, etc
do
Smoking materials
do
Toilet goods, medical supplies
do
All other
_
do
Magazine advertising:
Cost total
do
Automobiles and accessories
do
Clothing
do
Electric household equipment
do
Financial
do _
Foods, food beverages, confections
do
Gasoline and oil
_____ _
do
Housefurnishings, etc
do
Soap, cleansers, etc
_
do
Office furnishing and supplies
do
Smoking materials
do
Toilet goods, medical supplies
do
All other
do
Linage, total
_ _ _ _ _ _ thous. o f lines
Newspaper advertising:
Linage, total (52 cities)
do _
Classified
do
Display, total
_ _
do
Automotive
do
Financial
_
do
General
do
Retail
__ _
do
GOODS IN WAREHOUSES
Space occupied in public-merchandise warehouses §
percent of total. _
87.7
POSTAL BUSINESS
Money orders:
Domestic, issued (50 cities):
Number
Value
_ __
Domestic, paid (50 cities):
Number
_
Value
__
PERSONAL CONSUMPTION EXPENDITURES
Seasonally adjusted quarterly total at annual rates: *
All goods and services
bil of dol
Durable goods
do
Automobiles and parts
do
Furniture and household equipment do
Other durable goods
do
Nondu r able goods
do
Clothing and shoes
do
Food and alcoholic beverages
do
Gasoline and oil
do
Semidurable house furnishings
do
Tobacco
do
Other nondurable goods
do
Services
do
Household operation
do
Housing
do
Personal service
do
Recreation
do
Transportation
___ _
do
Other services
do
147.3
16.2
154.9
18.2
' r 158. 0
18.5
88.9
93.6
'95.3
r
97 8
100 0
42.1
43.1
'44.2
r
45 0
46 1
' r162 0
19 2
166 0
19 9
RETAIL TRADE
All retail stores:f
7,464
7,838
8,199
8,911
9,086
10, 282
8,822
8,746
9,280
Estimated sales, total
mil. of dol__
8,764
8,567
'T 8, 837
9,331
1,584
1,854
1,722
1,921
2,054
1,620
1,860
1,988
2 102
Durable goods store
do
2 078
2 069
2 071
2 213
682
753
730
742
696
681
799
828
841
835
Automotive group
do _
833
853
885
582
589
621
598
562
686
683
710
Motor vehicles
do
706
703
705
720
753
132
99
132
107
120
155
116
118
129
130
134
' 136
Parts and accessories
_
do _
133
602
460
540
476
552
545
535
635
674
669
689
Building materials and hardware
do
'680
739
304
293
330
394
349
306
343
414
381
425
Building materials
do
450
'451
498
64
50
52
51
56
50
66
78
79
77
Farm implements
do. _
77
70
71
120
117
158
154
180
143
164
143
182
167
162
160
Hardware
do
170
377
373
471
468
532
429
444
410
496
465
480
Homefurnishings group
do _
451
500
240
240
317
317
357
283
293
281
331
314
285
299
Furniture and housefurnishings
do
328
132
137
154
129
151
175
146
150
164
166
166
Household appliance and radios
do _
166
172
71
71
116
79
96
245
81
97
86
96
82
Jewclrvstores___
do
77
89
'Revised.
§ See note marked "§" on p. S-6 of the April 1943 Survey in regard to enlargement of the reporting sample in August 1942.
*New series. The estimates of consumer expenditures have been revised in accordance with revisions in the totals shown as a component of the gross national product on p. S-l and in
the "National Income Supplement" referred to in the note marked with an "*" on that page; this supplement provides detailed annual estimates of consumption expenditures for 1929-46 and
quarterly data for 1939-46 for the grand total and for total durable goods, nondurable goods and services. Compilation of separate data for the subgroups shown above was not completed in
time for inclusion in this issue but data will be available for a later issue.
t Revised series. See note marked "f" on p. S~7 of the September 1947 Survey for reference to tables giving data through June 1944 and 1945 revisions for sales of all retail stores; the indexes
beginning 1942 shown in those tables and on p. S-8 in current issues through September 1947 have been revised owing to revisions in the seasonal adjustment factors; revisions through July 1946
will be published later; the index eliminating price changes has been discontinued.
SUEVEY OF CURRENT BUSINESS
S-8
Unless otherwise stated, statistics through
1941 and descriptive notes may he found
in the 1942 Supplement to the Survey
November 1947
1947
1946
September
October
November
December
January
February
March
April
May
June
July
August
September
DOMESTIC TRADE—Continued
RETAIL TRADE—Continued
All retail storesf—Continued
Estimated sales—Continued
5,880
6,834
6,496
6.476
7,232
8,229
6,218
6,886
7,178
6,990
6,686
' 6, 768
7, 118
Nondurable goods stores
mil. of dol.
549
791
775
858
1,089
610
806
786
568
856
718
'618
843
Apparel group
do
195
145
133
192
185
194
222
137
316
194
237142
206
Men's clothing and furnishings
do
355
364
250
375
352
377
454
280
348
295
245
276
375
Women's apparel and accessories
do
129
78
111
123
162
88
108
101
104
97
79
88
117
Family and other apparel
do
88
134
127
98
137
139
130
158
131
132
108
112
146
Shoes
do...
275
302
287
395
289
298
300
286
303
288
290
-•297
295
Drug stores
do...
1,054
1,072
961
861
1,011
1,015
960
978
996
1,014
1,036
1,049
1,048
Eating and drinking places
do.__
2,213
2,098
2,004
2,324
2,317
2,302
2,272
2.332
2,161
2,380
2,478
2,417
2,317
Food group
do...
1,632
1,502
1,792
1,707
1,812
1,831
1,786
1,942
1,823
1, 628
1,770
1,901
1,803
Grocery and combination
do...
467
502
532
532
548
506
505
516
502
509
536
517
514
Otherfood
do___
282
304
314
332
332
327
320
343
346
340
361
370
359
Filling stations
do.__
995
973
1,203
1,488
1,930
1,
247
1,260
1.305
1,
357
1,200
1.079
'
1,
161
1,352
General merchandise group
do...
639
842
834
656
809
857
788
677
910
1,016
1,277
'743
Department, including mail-order do_._
908
General, including general merchandise
151
124
142
173
120
139
154
155
165
153
155
157
160
with food
mil. of doL
97
123
124
199
100
126
125
142
136
115
146
121
138
Other general mdse. and dry goods-._do
117
141
149
116
147
134
133
151
281
131
171
140
146
Variety
do.
842
941
902
1,089
848
923
903
918
872
853
817
'855
904
Other retail stores
do_
209
204
252
259
207
270
237
239
205
218
210
226
233
Feed and farm supply
do_
203
202
192
132
152
162
138
137
135
136
156
'122
155
Fuel and ice
do.
143
140
147
154
144
228
157
136
138
160
176
153
138
Liquors
do_
291
491
299
341
348
379
342
333
369
361
381
353
377
Other
do_
Indexes of sales:
241.3
265.1
274.5
279.9
262.9
282.2
321.6
250.1
266.8
269.0
279.5
' 265. 8
297.7
Unadjusted, combined index
1935-39=100.,
214.6
201.2
262.4
230.6
249.8
267. 8
257.1
232.6
238. 6
260.8
228.1
285.1
' 256. 7
Durable goods stores
do.
261.7
340.9
276.4
296.4
254.4
283.7
283.8
264.8
279.4
280.8
285.6
'
268.
8
301.8
Nondurable goods stores
do.
274.3
277.4
270.3
268.4
273.9
277.9
279.4
259.6
259.9
267. 4
278.5
' 274. 6
289.7
Adjusted, combined index
do.
245.7
237.9
233.2
246.5
257.4
251.3
255.0
222.3
222.9
226.3
248.0
'
257.
0
276.9
Durable goods stores
do.
184.6
197.4
181.1
171.2
187.5
185.9
167.5
170.6
187.0
158. 6
180.1
186.4
204.7
Automotive
do.
296.
7
316.
1
280.6
282.6
292.4
294.8
309.7
263.5
254.6
261.7
300.7
'321.0
342.3
Building materials and hardware
do
337.6
329.9
359.4
322.2
326. 9
338.8
374.3
330.8
358. 2
322.4
327.7
362. 8
383.1
Homefurnishings
do..
387.
6
399.1
401.4
396.1
407.3
384.1
382.3
380.0
388.0
374.0
414.6
383.0
414.8
Jewelry
do..
283.6
286.6
286. 6
284, 7
280.8
279.9
282.8
288.4
271.9
280. 8
271.7
' 280. 3
293.9
Nondurable goods stores
do..
283.5
305.1
292.
9
289.6
291.8
295.7
298.7
286.3
305.0
309.9
294.9
'
282.
7
320.7
Apparel
do.
256. 8
258.2
251.2
247.7
244.4
249.6
251.9
249.7
249.3
255.4
248.1
' 250. 1
252. 5
Drug
do_.
392.4
396.5
404.2
399.9
395.6
399.4
388.7
397.7
399.7
395.0
405. 8
'391.3
403.5
Eating and drinking places
do.
297.2
294.4
296.8
305.3
302.9
294.8
298.6
301.0
289.9
273.3
291.8
263. 4
303. 3
Food
.
do.
160.2
155. 8
169.3
163.8
155.4
156.2
159.6
158.8
169.1
149.5
156. 2
161. 2
168.6
Filling stations
do_
254.2
237.5
246.2
252.8
245.2
241.9
255.3
234.7
231.5
239.7
' 250. 6
238.1
258.6
General merchandise
do_
317.2
306.6
320.7
306.5
306.
5
302.2
316.7
297.5
306.
9
301.7
300.8
'
300. 9 319. 9
Other retail stores
do.
9,357
9,153
8,943
9,441
9,954
9,971
9,665
9, 562
8,728
' 9, 507 P 9, 987
8,487
9,136
Estimated inventories, total*
mil.of dol.3,566
2,911
3,192
3, 774
3,608
3,416
3,796
3, 688
3,190
' 3, 589 P 3, 881
2,682
2, 950
Durable goods stores*
do
5,587
5, 751
6,025
6,175
5,749
6,372
5,817
5, 977
6,180
' 5, 918 p 6, 106
5, 805
6,186
Nondurable goods stores*
do
Chain stores and mail-order houses:
2,015
1,911
1,658
2,017
2,134
1,971
1,913
2, 398
1, 690
2, 105
2, 037
r 2, 008
1, 715
Sales, estimated, total*
do..
153
244
163
229
181
235
303
246
240
187
213
233
246
Apparel group*
do..
25
55
27
45
41
39
30
40
27
44
39
48
46
Men's wear*
do_.
72
115
139
118
103
88
103
73
103
111
90
109
96
Women's wear*
do_.
69
53
84
41
62
68
68
63
55
63
46
73
60
Shoes*
do..
44
44
45
59
29
28
35
49
38
46
42
42
46
Automotive parts and accessories*
do_.
63
93
97
55
65
74
83
90
74
75
61
'99
112
Building materials*
do.
64
69
67
65
65
72
100
70
66
'68
70
66
66
Drug*
do.
52
50
52
55
52
47
52
51
51
52
53
50
52
Eating and drinking*
do.
22
24
24
24
32
27
26
25
22
27
18
27
26
Furniture and housefurnishings*
do.
389
532
552
509
473
508
594
387
571
776
492
'518
594
General merchandise group*
do.
Department, dry goods, and general merchan304
202
303
328
279
331
429
203
280
324
'303
278
347
dise*
mil. of dol.
77
85
68
75
77
88
104
92
96
82
104
91
108
Mail-order (catalog sales)*
do.
115
122
129
116
127
121
131
147
243
101
100
113
126
Variety*
do.
661
683
629
713
689
748
542
666
633
'722
482
650
662
Grocery and combination*
do_.
Indexes of sales:
254.6
273.7
272.5
239.1
261.5
272.7
325.7
225.2
' 257. 0 291.6
268.3
244.2
250.1
Unadjusted, combined index*
1935-39 = 100.
276.9
277.3
275. 4
260.4
26'
272.8
' 276. 5 286.3
259.9
251.4
238.8
250. 5
240.5
Adjusted, combined index*
do.
326. £
306.5
305.0
287.9
261.6
308.0
'
300. 6
283.3
292.0
281.
3
260.6
278.
5
292.0
Apparel group*
do.
345.5
286.7
292.1
294.4
276. 5
268.2
' 305. 7
260.8
264. 6
268.7
284.8
281.7
315.3
Men's wear*
do.
389. S
388.2
382.3
394.2
360.3
319.
0
365.
7
379.9
350.2
336.
4
308.
342.0
354.7
Women's wear*
do.
255. C
233.4
241.2
217.
205.8
217.1
229.7
'
240.
8
229.8
211.5
220.2
223.5
218
Shoes*
do.
225. £
241.6
232.4
201.2
219.1
225.2
246.0
240.0
274.
199.4
249.8
235.8
236.
2
Automotive parts and accessories*
do...
325.1
328.6
299.9
306.5
313.3
' 333. 7 361. £
253.
283. 8
322.7
214.8
213.0
247.3
Building materials*
do.
230.?
223.9
222.9
229.1
230.2
'
229.
0
231.9
235.
236.0
227.
5
230.6
237.3
230.2
Drug*
do..
226.5
222.8
220.8
223.1
' 220. 2 222.4
220.8
219.
221.8
218.2
226.4
214.6
211. 6
Eating and drinking*
do.
257.
2
256.9
245.9
224.
242.0
243.1
234.4
257.4
224.6
237.
228.
5
199.1
222.8
Furniture and housefurnishings*
do.
286. £
275.2
273.9
271.7
' 272. 4
259. 2
267.0
244.
253.
239.0
241.
245. 4
245.4
General merchandise group*
do.
Department dry goods, and general mercban
332.6
324.6
329.0
' 322. 4 348.5
316.6
307.4
274.3
282.3
291.
278.3
286.
288.0
dise*
1935-39 = 100.
259. (
265. 8
270.0
276.3
269.1
239. 9
244.1
234.4
223.
223.1
214. 3
228.3
219.8
Mail-order*
do_.
208.'
193.7
192.7
192.9
194.2
204.4
197.2
192.9
192.7
212.5
194.1
200.3
192.2
Variety*
do..
326. (
316.7
320.5
322.4
316.1
311.3
320.1
292.9
293.9
306.8
247.0
244.4
Grocery and combination*
do.
Department stores:
Accounts, collections, and sales by type of payment:
Accounts receivable:
8'
84
83
'82
75
79
55
'75
50
Instalment accounts§
1941 average=100.
16'
16,
145
167
146
154
16C
163
175
176
223
145
156
Open accounts§
do.
Ratio of collections to accounts receivable:
3
28
28
'28
30
30
33
Instalment accounts§
percent.
5;
54
5
51
56
54
56
Open accounts§
do.
Sales by type of payment: *
5^
5
56
5
5£
55
5£
Cash sales
percent of total sales.
4(
3
38
39
3£
39
39
Charge account sales
do.
t
6
6
6
Instalment sales
do.
rTfpvispfl j> Prplrminarv SMinor revisions in the figures prior to November 1941 are available on request.
, , .
.
, . ,
. .
*New series See note marked "*" on p S-8 of the September 1947 Survey for reference to tables giving data through 1943 and 1945 revisions for the chain-store series; the indexes beginning? 1942 shown'in those tables and in current issues through September 1947 have been revised owing to revisions in the seasonal adjustment factors; revisions through July 1946 will be shown
late! Seep S-<?of the Au^fl^^^ey for data beginning June 1943 for the series on department store sales by type of payment. Data beginning 1939 for retail inventories will be
PUb
tRe^ed^eries. See note marked "f" on p. S-7 regarding published revisions in the data for all retail stores and recent revisions in the indexes.
SURVEY OF CURRENT BUSINESS
November 1947
Unless otherwise stated, statistics through
1941 and descriptive notes may be found
jn the 1942 Supplement to the Survey
S-9
1946
September
October
1947
November
December
January
February
March
April
May
June
July
August
September
DOMESTIC TRADE—Continued
RETAIL TRADE— Continued
Department stores— Continued
Sales, unadjusted, total U. S.f
1935-39=100..
Atlantaf
do .
Boston t
- - - - - - - -do _
Chicago +
do
Cleveland!
_ _ __ _ do ..
D alias f
do
Kansas City!
do Minneapolis!
do
New Yorkf
do __
Philadelphia!
_ __ _ _ _ - _ _ _ d o _
Richmond!
do
St. Louis!
do
San Francisco
do
Sales, adjusted, total U. S.!--'_
._ . .do
Atlanta!
do
Boston!__________
do __
Chicacot
do
Cleveland!- .- _
_ _ _ do Dallas!
do
Kansas Citv!_ - - -do
Minneapolis!
do
New York!
- - do___
Philadelphia!
do
Pichmond!
_ -_
__ _ do
St. Louis!
do
San Francisco
__ . __
do
Stocks, total U. S., end of month:!
Unadjusted
1935-39=100
Adjusted
do
Mail-order and store sales:
Total sales, 2 companies
thous. of dol__
Montgomery Ward & Co.
do _
Sears, Roebuck & Co
do
Rural sales of general merchandise:
Total U S unadjusted
1929-31 = 100
East
do _
South _
- _
._ _
-do __
Middle West
do
Far West
- - - _ do
Total U. S., adjusted
do
East
do _
South
do
Middle West
do
F a r West
_ _
_ _ _ _ _ _ _ do _
'277
374
237
268
251
••392
311
287
214
'245
'317
316
'325
270
367
226
263
249
'373
321
265
'206
'245
298
313
'312
278
372
240
268
265
384
312
281
202
258
312
313
330
257
347
216
250
248
349
297
254
179
233
286
293
319
336
416
284
318
333
434
340
302
301
318
370
371
376
271
347
230
261
266
356
283
253
231
239
291
294
319
441
570
398
409
430
567
448
385
392
408
494
463
503
276
363
231
264
277
348
299
251
232
250
293
303
317
209
273
170
196
194
294
225
196
182
188
219
228
249
265
341
215
245
256
363
281
262
228
247
293
278
313
222
298
171
210
210
306
247
202
188
192
226
244
278
268
338
219
262
256
347
272
261
224
234
281
290
330
266
346
227
250
262
337
283
258
229
255
292
288
295
273
346
237
260
257
347
298
279
229
236
307
294
325
268
350
227
258
266
347
290
264
223
248
290
297
297
276
353
227
261
272
377
296
257
235
258
299
306
315
280
348
241
276
283
356
297
269
237
261
301
315
301
291
367
244
276
298
379
316
270
253
275
303
321
323
265
307
232
270
267
307
281
264
231
238
278
269
294
289
365
249
278
284
361
305
278
254
264
317
299
320
219
269
164
219
220
288
250
217
'171
185
215
249
272
287
336
237
281
281
378
294
268
'255
257
301
320
329
'236
309
'176
224
237
327
'277
'242
179
193
'233
264
'306
'282
352
'234
266
273
376
'298
271
246
'258
282
307
'340
P298
368
P 257
29(5
293
387
^ 336
312
244
P268
322
340
P 325
* 290
361
P245
290
290
368
»346
287
234
P 268
303
337
P
313
250
226
267
237
277
256
235
274
234
268
252
275
264
273
262
264
253
252
236
242
232
230
245
227
257
230
242, 461
94, 005
148, 456
283, 733
112,155
171, 578
281, 422
106, 355
175, 067
313, 678
117,281
196, 397
201,052
67, 097
133, 955
185, 800
71, 205
114, 595
249, 263
97, 552
151,711
260, 325
99, 623
160, 701
275, 884
104, 322
171, 562
253, 091
89, 635
163, 456
231, 957
84, 330
147, 627
254, 738
97, 334
157, 405
306, 643
117,507
189, 136
340.3
320.1
493.2
286.7
383.5
321.9
325.6
446.8
279.7
327.7
345.1
334.6
493.8
293.2
384.9
265.6
260.0
333 2
230.8
320.5
376.9
372.8
552.2
313.2
439.0
289.7
289. 2
402.1
238.9
361.9
366.8
333.8
491.5
312.6
465. 5
229.4
200.5
327.2
200.4
285.2
239.7
243.8
348.3
199.6
258.9
315.0
320.7
440.3
261.0
352.2
279.6
266.0
430.4
235.5
295.0
345.6
325.2
471.9
296.2
398.6
331. 0
358.2
423.2
289.0
350.5
376. 9
398.9
468.6
326.2
425.8
307.6
309.3
409.5
263.5
336.5
334.6
324.6
464.8
282. 1
376.8
292.5
296.3
382.9
250.6
328.8
318.6
322. 1
451.5
264.7
365.7
287.7
278.0
384. 3
251.1
335.3
315.8
302.8
478.0
266. 0
351.8
243.1
223.2
332. 0
215. 1
288.7
333.0
313.5
489.0
291. 5
352.1
306 6
297.0
403.9
262.5
372.8
374.8
372.6
560.2
318.2
404.8
375 9
340.6
523. 6
320.8
446. 9
355. 6
346. 5
474 3
313. 0
381.9
4,879
1,483
3,396
5,055
5,642
1,680
3,962
5 338
5,368
1,600
3,768
5,738
5,346
1,671
3,675
5,939
5,109
1,583
3,526
6,271
4,732
1,599
3,133
6,514
4,996
1,736
3,260
6,729
4,977
1,818
3,159
6,823
4, 952
1,763
3,189
6,734
4,843
1,699
3,144
6,755
4,998
1,636
3,362
6,660
' 5, 108
'1,669
3, 439
6,768
5,674
1 819
3, 855
6 888
WHOLESALE TRADE
Service and limited function wholesalers:*
Estimated sales, total
mil. of dol__
Durable goods establishments
do
Nondurable goods establishments- __ - d o
All wholesalers, estimated inventories*
do
EMPLOYMENT CONDITIONS AND WAGES
EMPLOYMENT
Employment status of noninstitutional population:*
Estimated number 14 years of age and over,
107, 504
107, 590
106, 940
total
thous
106, 630
106, 760
107, 190
107, 260
107, 330
107, 407
107, 060
106, 840
106, 970
107 675
54, 561
54,612
54, 420
54, 460
54,180
54, 230
54, 110
54, 150
54, C60
54, 370
54, 506
53, 980
Female
_ __ - do
54, 661
52, 943
52, 700
52, 840
52, 870
52, 790
52, 790
52, 650
52, 820
52, 901
52, 978
52, 830
52, 730
Male
do
53 014
1,371
1,470
1,398
Armed forces._ _ _ _ _ do . 2, 170
1,570
1,530
1, 352
1,620
2,220
2,010
1, 890
1,720
1.326
62, 664
58, 430
59, 120
60, 290
62, 609
Civilian labor force total
do
58, 990
58. 390
61, 665
58, 010
59, 120
58, 970
57, 790
60 784
17, 803
16, 320
18, 149
15, 910
16, 440
15, 950
17, 120
17,125
17, 270
17, 170
17, 020
15, 930
Female, _ _ _ _ _ _ _ do _ _
17,233
44, 861
42, 1 00
42, 800
44, 460
42, 440
43, 170
44, 540
41, 850
41, 820
41. 950
41,990
41. 860
Male
do
43, 551
Employed
do
60, 079
57, 050
57, 030
60 055
59, 569
55, 520
57 040
56, 310
56 060
56, 700
58, 330
55, 390
58 872
17, 008
Female
do
15, SCO
15, 480
16, 010
16. 780
16, 760
15 470
16, 580
17, 302
15, 430
16,610
1 6, 547
16 714
43, 071
42, 753
40, 270
40, 270
Male _ _
_ do-40, 900
41, 750
43, 022
39, 910
40, 090
40, 590
40, 430
40, 300
42, 1 58
10, 066
Agricultural employment
do
8,960
10, 377
' 8, 975
6,920
8,750
8,620
7,900
7,210
6,500
7,860
8 727
7,240
50, 013 ' 50, 594 50 145
Nonagricultural employment
do
49, 370
49, 140
49 100
48, 300
48, 410
48 820
48, 840
49, 678
48, 600
48, 890
2,584
2,121
2,555
1,930
1,960
2,120
Unemployed
_ __ _ - - __ _do
2,420
1,960
2,400
2,490
2,070
2,330
1,912
43, 469
44, 203
Not in labor force
do
45, 570
47, 430
45, 600
45, 860
46, 610
43, 399
45 544
47, 460
46, 620
45, 290
47, 230
Employees in n onagri cultural establishments:!
Unadjusted (U. S. Department of Labor):
42, 361
' 42, 175 ' 42 547 42 997
41 823
41, 919
41 849
42 043
42 439
42 928
41 803
Total
thous
41 848
42 065
15, 429
15, 237
15, 327
' 15, 209 ' 15, 537
15 475
Manufacturing
do
15, 035
15, 064
15 510
15, 271
15, 348
15, 372
15 696
864
884
893
'895
893
874
Mining
_____
do
884
856
883
883
880
879
883
1,685
1,768
' 1, 847
Construction
do
1,890
1,502
1,534
1,753
1,644
1,619
1,924
1,713
1,527
1,747
4,115
' 4, 140
4, 145
3,970
4,011
Transportation and public utilities,
do ___
3,836
4, 141
4,093
4,101
4,071
4,014
4,064
4,020
8,581
Trade-.. _ _
_ .
do
8,545
' 8, 558
8,667
8,551
8, 898
9,234
8, 552
8, 523
8, 571
8,507
8, 700
8,563
1,590
1,567
1,554
1,561
1,602
Finance
do
1,585
1,546
1,555
1,543
1, 546
1,544
1,534
1, 540
4,711
4,686
4,590
4,619
4,514
Service
_ _. _
do
4,552
4,573
4,527
4,456
4, 633
4,561
4,565
4,555
5,399
5,281
5,447
5,288
G overnment
do
5,551
5,426
5 425
5,367
5 415
5 638
5,605
5 475
5 384
Adjusted (Federal Reserve):
Total
_
do
42, 065
42, 354
42, 207
42, 079
' 42, 340 ' 42, 078 ' 42, 372 P 42, 806
42, 395
42, 139
42, 243
41, 669
41, 854
Manufacturing
_
do
' 15, 358 ' 15, 157 ' 15, 399 » 15, 610
14, 953
15, 513
15, 359
15, 529
15, 019
15, 233
15,310
15, 426
15, 565
893
'895
Mining
do
884
864
874
883
884
856
880
879
883
883
*893
1,731
Construction
_ _
do
1,652
1,668
1,700
' 1, 742 '1,766
p 1,815
1,670
1,679
1,651
1,632
1,678
1,648
4,091
Transportation and public utilities _ do
3, 855
3,970
4,074
' 4, 079 ' 4, 084 ^ 4 , 141
4,052
4,093
4,040
4,101
4,075
4,064
8.632
' 8. 669 ' 8. 688 ' 8. 747 v 8. 788
Trade
do
8.638
8.637
8.695
8.639
8.630
8.595
8.609
8.581
'Revised. ^Preliminary.
*New series. See note marked "f" on p. S-9 of the September 1947 Survey for reference to data beginning 1939 or 1938 for the series on wholesalers' sales and inventories and recent minor
revisions in the sales figures. Estimates of the labor force for July 1945 to date have been published on a revised basis beginning in the September 1946 Survey; earlier revisions for these
series and 1940-46 data for the series on institutional population will be published later.
!Revised series. For revised data for 1919-45 for the index of department store stocks see p. 24 of August 1946 Survey. See notes marked "f" on pp. S-8 and S-9 of September 1947 Survey with regard to published and unpublished revisions in the estimates of employees in nonagricultural establishments and in the indexes of department store sales, except the index for the
Philadelphia district; revised data for 1919-46 for this district are shown on p. 17 of that issue.
SUEVEY OF CURRENT BUSINESS
S-10
Unless otherwise stated, statistics through
1941 and descriptive notes may be found
in the 1942 Supplement to the Survey
November 1947
1947
1946
September
Octo-
ber
Novem-
ber
Decem-
ber
Janu-
ary
Febru-
ary
March
April
May
June
July
August
September
EMPLOYMENT CONDITIONS AND WAGES—Continued
•
EMP LO YM ENT— Continued
Estimated production workers in manufacturing
industries, total (U. S. Dept. of Labor)*
thousands, _
Durable goods industries
_
_ -do
Iron and steel and their products
do
Blast furnaces, steel works, and rolling mills
thousands .
Electrical machinery
_
do
Machinery, except electrical
..do _ _ _
Machinery and machine-shop products do
Machine tools!
_ do.. .
Automobiles
do
Transportation equipment, except automobiles
thousands _Aircraft and parts (excluding engines) £ do
Aircraft enginesj
do
Shipbuilding and boatbuilding:}:
do
Nonferrous metals and products
do
Lumber and timber basic products
do
Sawmills and logging camps§
do
Furniture and finished lumber products, do
Furniture§
._
__ _ _
_ do_
Stone, clay, and glass products
do
Nondurable goods industries ___ _
.
do _
Textile-mill products and other fiber manufactures
_ thousands
Cotton manufacturing, except small wares
thousands
Silk and rayon goods
do
Woolen and worsted manufactures (except
dyeing and
finishing)
thousands
Apparel and other finished textile products
thousands __
Men's clothing§
do
Women's clothing§
do
Leather and leather products
_
do
Boots and shoes§
do
Food and kindred products
do
Baking
do
Canning and preserving
_
do
Slaughtering and meat packing
do
Tobacco manufactures
_
do
Paper and allied products
do
Paper and pulp§
_ _
do
Printing, publishing, and allied industries
thousands...
Newspapers and periodicals.
do
Printing, book and job§ __ .__ .
do
Chemicals and allied products
do
Chemicals
do
Products of petroleum and coal
do
Petroleum refining _ _ _ _
do
Rubber products
do
Rubber tires and inner tubes§
__
do
Production workers, unadjusted index, all manufacturing (U. S. Dept. of Labor)f
1939=100._
Durable goods industries
do
Iron and steel and their products
_ do
Blast furnaces, steel works, and rolling mills
1939-100
Electrical machinery _ _
do
Machinery, except electrical _ _ _ _ .do.
Machinery and machine-shop products do
Machine toolst
do
Automobiles
do
Transportation equipment, except automobiles
1939=100..
Aircraft and parts (excluding engines) J do
Aircraft engines^
do
Shipbuilding and boatbuilding^
do
Nonferrous metals and products
do
Lumber and timber basic products. ._
do
Sawmills and logging camps§
__.
do
Furniture and finished lumber products.. do
Furniture §
do
Stone, clay, and glass products
_
do
Nondurable goods industries
do
Textile-mill products and other fiber manufactures... .
1939=100
Cotton manufactures, except small wares
1939 = 100
Silk and rayon goods
_
do
Woolen and worsted manufactures (except
dyeing and
finishing)
1939—100
Apparel and other finished textile products
1939=100-.
Men's clothing§
.
do
Women's clothing§
do
Leather arid leather products
do
Boots and shoes§
_
do
Food and kindred products
do
Baking
_.
do
Canning and preserving
_ _. _ _ do _
Slaughtering and meat packing
do
12, 244
6,249
1,514
12, 253
6,281
1,500
12, 449
6,379
1,535
12,514
6,393
1,521
12, 511
6,429
1,552
12, 593
6,502
1,562
12, 614
6,532
1,567
12, 524
6,524
1,567
12, 341
6,426
1,555
12, 404
6,488
1,562
12, 276
6,309
1,547
' 12, 596
' 6, 394
' 1, 572
480
563
1,112
363
62
788
474
579
1,131
370
62
774
482
590
1,150
378
60
778
467
597
1,161
380
61
774
480
598
1,173
381
60
755
483
601
1, 181
385
59
791
482
599
1,189
386
58
798
487
567
1,197
386
57
807
491
'554
1,194
384
55
751
497
574
1,185
382
53
789
••498
557
1,152
373
50
785
503
"559
' 1, 174
376
52
'770
455
140
28
139
411
583
469
405
217
418
5,995
457
143
29
134
417
590
474
411
220
422
5,972
464
146
29
134
422
599
480
419
224
422
6,070
473
145
29
143
426
592
473
425
227
424
6,121
474
144
30
142
428
592
471
432
230
425
6,082
472
142
29
141
432
598
477
441
235
424
6,091
471
141
28
140
430
611
489
440
234
427
6,082
477
142
28
144
424
627
503
433
229
429
5,996
466
138
27
140
412
651
524
425
226
418
5,915
463
134
27
401
665
535
426
227
423
5,916
395
129
27
'87
385
658
531
419
224
411
5,967
'392
131
27
84
'392
'679
552
' 433
230
'423
' 6, 202
419
6,294
1,204
1,215
1,230
1,242
1,242
1,247
1,242
1,223
1,197
1,179
1,158
'1,172
1,190
456
93
460
94
465
95
469
96
470
96
472
95
470
95
468
94
460
92
453
91
445
89
446
90
' 140
12, 743
6,449
1 580
561
1,188
797
399
396
672
437
160
161
162
164
163
162
158
153
148
147
142
147
1,049
267
415
358
219
1, 175
241
245
95
87
372
187
1,065
270
418
355
216
1,091
241
173
84
89
376
188
1,063
280
407
357
219
1,141
249
132
139
91
383
190
1,079
283
414
362
222
1,139
253
116
151
92
387
192
1,090
285
422
362
223
1,098
249
95
154
90
386
192
1,119
288
439
364
224
1,059
244
82
149
89
387
193
1,120
288
442
363
224
1,055
245
77
144
86
387
194
1,066
284
408
358
221
1, 068
247
80
139
82
385
192
1,037
281
389
345
213
1,077
246
80
143
83
381
193
1,040
285
389
346
214
1,114
247
91
146
84
381
195
1,040
278
402
349
217
1,203
251
146
150
84
373
194
1,125
295
441
'360
223
1, 299
252
207
151
'85
'380
197
401
132
170
530
117
157
100
229
123
410
134
174
539
118
155
99
236
127
415
135
177
550
121
155
99
240
129
420
137
178
555
123
155
99
242
129
417
135
178
564
124
154
98
240
128
420
137
178
568
124
155
99
240
127
421
139
177
569
125
155
99
238
126
421
140
176
565
125
154
98
234
123
422
141
175
561
125
158
100
223
119
423
142
176
543
127
160
101
219
118
422
142
176
547
126
163
103
212
115
149.5
173. 1
152.7
149.6
173.9
151.2
152.0
176.7
154.9
152.8
177.0
153.4
152.7
178.0
156.5
153.7
180.1
157.5
154.0
180.9
158.1
152.9
180.8
158.0
150.6
178.0
156.8
151.4
179.7
157.5
149.9
174.7
156,1
' 153. 8
'r 177. 1
158. 5
155.6
178.6
159.4
123.6
217.3
210.3
179.5
169.2
196.0
121.9
223.4
214.0
183.0
169.2
192.3
124.0
227.6
217.7
186.7
164.6
193.3
120.2
230.6
219. 6
187.6
165.3
192.3
123.5
230. 8
222.0
188.8
163.2
187.7
124.4
232. 0
223.5
190.3
161. 1
196.6
124.2
231. 3
225.1
190.6
158.4
198.2
125.3
218.7
226.6
190.8
156.1
200.5
126.4
213.8
225.9
189.6
150.5
186.5
128.0
221.5
224.2
188.7
145.9
196. 2
' 128. 2
215. 0
217.9
184.5
136.8
195.0
129.5
»' 215. 6
' 222. 2
185.9
141.6
216.6
224.8
191.3
198.2
286.8
351. 6
310.5
200.8
179. 5
138.6
149.4
123.5
121.7
142.5
130.9
287.8
360.9
321.8
193.3
182.0
140.4
151. 0
125.2
123.7
143.8
130.4
292.4
368. 8
329.8
193.2
184.0
142.4
152.9
127.7
125.6
143.9
132.5
298.2
364.8
326.2
206.2
185.8
140.8
150.7
129. 6
127.7
144.4
133.6
298.4
362.8
331. 4
205.7
186.9
140.9
150.2
131.8
129.3
144.9
132.8
297.6
357.6
321.8
203.3
188.9
142.3
152.1
134.5
132.1
144.5
133.0
296.7
355.8
314.9
202.8
187.5
145. 4
155.7
134.2
131.3
145.3
132.8
300. 8
357.6
315.8
207.8
184.8
149.1
160.3
131.8
128.9
146.0
130.9
293.7
348. 4
303.4
202.7
179.6
154.8
167.0
129.5
127.0
142.6
129.1
291.8
337.4
302.5
' 202. 7
175.1
158.2
170.5
129.8
127.6
144.0
129.1
248.9
326.0
301.1
' 126. 1
168.2
156.5
' 169. 4
127.8
125.9
140.2
130.3
r
247. 2
329. 3
299.9
121.3
' 170. 9
161.5
175.8
' 131.9
129.4
' 144. 0
' 135. 4
251.2
105. 2
106.2
107.6
108.6
108.6
109.1
108.6
106.9
104.6
103.1
101.2
r
104.0
115.1
77.6
116.0
78.3
117.5
79.1
118.4
79.8
118.7
79.9
119.1
79.6
118.7
79.5
118.1
78.4
116.2
76.7
114.5
'75.6
112.3
'74.2
107.0
107.5
108.7
110.2
109.2
108.6
105.9
102.7
99.2
98.3
95.4
132.9
116. 1
145.0
103.1
95.0
137.5
104.6
182.2
78.6
134.9
117.7
146.0
102.2
93.7
127.7
104.6
128.9
70.0
134.6
121. 8
142.1
102.9
94.7
133.5
107.9
98.1
115.3
136.6
123.1
144.8
104.4
96.0
133.3
109.6
86.2
125.0
138.0
123.9
147.4
104.4
96.4
128.4
107. 9
70.3
128.1
141.7
125.3
153.5
104.9
97.1
123.9
105.7
60.8
123.5
141.9
125.2
154.5
104.7
97.2
123.5
106.2
56.9
119.1
135.0
123.5
142.4
103.0
95.6
125.0
107.2
59.4
115.7
131.4
122.2
136.0
99.4
92.1
126.0
106.5
59.4
118.9
131.7
123.9
135.9
99.8
92.9
130.3
107.2
67.9
121.1
131. 7
121.1
140.4
100.6
93.9
140.8
108.7
108.2
' 124. 9
r
426
143
176
'551
125
163
103
'216
118
r
102. 5
1,157
365
1,305
87
381
431
560
163
218
172.6
159.9
133. 2
142.8
137.4
112.6
75.3
98.2
142. 5
128.3
154.0
r
103. 8
96.7
' 152. 0
109.3
153. 7
125.1
146.5
105 1
152 7
'Revised.
JSec note marked "§" on p. S-10 of September 1947 Survey for reference to revised data for shipbuilding, aircraft and aircraft engines, and machine tools.
§Data for the indicated industries have been revised beginning 1939 to adjust the series to data from the Federal Security Agency; see note marked "§" on p. S-10 of September 1947 Survey
for reference to revised data for furniture and the clothing industries; and p. 24 of that issue for revised data for 1939-46 for the boots and shoes industry; revised figures for 1939-46 for sawmills
, total durable goods
tRevised series. See note marked" "t" on p/S-10 of the September 1947 Survey for reference to revised employment and pay-roll indexes for 1939-41 for the individual industries (except
3 indicated in notes marked "§" and "I" above) and for 1939-February 1946 for all manufacturing, total durable goods and nondurable goods industries and the industry groups.
SUKVEY OF CURRENT BUSINESS
November 1947
Unless otherwise stated, statistics through
1941 and descriptive notes may be found
in the 1942 Supplement to the Survey
S-ll
1947
1946
September
October
November
December
January
February
March
April
May
June
July
August
September
EMPLOYMENT CONDITIONS AND WAGES—Continued
EMPLOYMENT— Continued
Production workers, index, unadjusted! — Con.
Nondurable goods industries— Continued
Tobacco manufactures
1939= 100. _
Paper and allied products
do
Paper and pulp§
do
Printing, publishing and allied industries, do
Newspapers and periodicals
do
Printing, book and job§
__
_ do _
Chemicals and allied products
do
Chemicals
_
- do
Products of petroleum and coal
do
Petroleum refining _ _ _ _
do
Rubber products
_
_ do _
Rubber tires and inner tubes§
do
Production workers, adjusted index, all manufacturing (Federal Reserve) f
1939=100
Durable goods industries! _ _
do _
Nondurable goods industries!
do
N^onmanufacturing, unadjusted (U. S. Dept. of
Labor) :
Mining:!
Anthracite_._
1939=100
Bituminous coal
_ _
do
Metalliferous _ _ _ _ _
do
Quarrying and nonmetallic
_
do.
Crude petroleum and natural gas!_
do
Public utilities:!
Electric light and power
do
Street railways and busses _
_ _ _ _ _ _ do _.
Telegraph
_ _
do
Telephone
do
Services:!
Dyeing and cleaning
do
Power laundries
_ _
do
Year-round hotels
do
Trade:
Retail, total!
do
Food*.
_
do
General merchandising!
do
Wholesale!
do
Miscellaneous employment data:
Federal and State highways, total!
number. _
Construction (Federal and State)... _ _ do _
Maintenance (State)
do
Federal civilian employees:!
United States
_
thousands
District of Columbia
do
Railway employees (class I steam railways) :
Total
thousands, _
Indexes: Unadjusted!
_
1935-39=100
Adjusted!-.^
. _
do
93.5
140.0
135.6
122.3
111.0
133.2
184.0
167.6
147.8
137.0
189.1
226.0
95.8
141.7
136.2
125.0
112.8
136.6
187.2
169.8
146.8
136.2
194.8
234.4
97.6
144.3
137.9
126.6
113.7
138.3
190.9
173.3
146.6
136.0
198.8
238.3
98.3
145.7
139.2
127.9
115.2
139.5
192.5
176.7
146.1
136.4
200.1
237.9
96.1
145.6
139.6
127.2
114.0
139.5
195.6
178.6
145.4
135. 0
198.8
235.5
95.4
145.9
140.4
128.1
115.7
139.4
197.1
178.6
146.0
135.2
198.2
233.3
92.2
145.9
140.4
128.2
116.9
138.4
197.5
179. 1
145.9
135.4
196.5
231.4
87.5
145.0
139.6
128.5
117.9
138.1
196.2
180.1
145.4
134.0
193.5
227.0
88.4
143.7
140.3
128.6
119.0
137.2
194.8
180.3
149.3
137.9
184.5
220.0
90.2
143.4
141.3
129.1
119.7
137.8
188.5
182.1
150.8
139.2
180.7
217.0
89.8
140.7
140.9
128.8
119.8
' 138. 2
189.8
180.8
153.7
141.4
175.2
212.3
'91.6
' 143. 0
142.6
129. 8
120.8
137.7
'191.1
179.2
' 154. 1
141.5
r
178. 2
216.6
148.6
172.7
129.6
149.1
173.8
129.7
151.5
176.4
131.8
152. 4
177.1
133.0
153.4
178.7
133.4
154.4
180.8
133.6
154.6
181.5
133.4
153.8
181.2
132.2
151.9
178.2
131.1
151.7
179.5
129.8
149.2
174.1
129.6
' 152. 2
' 176. 0
' 133. 4
82.2
90.5
83.5
102.5
93.9
83.2
90.1
83.9
101.7
93.4
82.9
90.0
85.2
101.2
93.0
83.0
88.1
86.2
99.7
92.6
83.4
90.8
87.2
96.9
92.1
82.9
90.4
87.6
97.1
91.7
81.8
89.7
88.6
98.7
92.0
80.1
83.0
89.6
103.1
92.6
81.1
88.1
89.4
104.3
93.3
80.3
88.7
90.4
105.7
95.5
78.7
81.8
89.1
106.0
97.2
81.4
88.1
89.5
106.3
97.3
101.9
129.9
112.0
181.0
102.0
130.3
110.3
181.6
102.5
130.6
108.7
183.4
103.0
130.1
107.4
184.6
102.5
130.9
104.6
185.2
103.2
131.1
201.5
186.9
104.0
131.0
100.7
188.4
104.8
130.9
104.5
127.2
105.7
130.7
102.8
159.2
107.5
130.4
102.3
190.4
109.3
130. 9
101.5
193.3
'110.2
' 130. 7
100.5
r
193. 8
194.5
125.6
109.9
119.5
126.1
110.1
120.6
123.0
109.9
120.2
120.9
110.9
119.1
118.2
111.0
117.3
117.0
109.5
117.7
118.8
108.7
117.3
121.5
109.1
117.5
123.7
110.2
118.4
127.7
112.2
119.4
123.4
112.8
118.3
'117.4
110.2
117.6
118.5
109.4
116. 6
109.8
103.5
125.4
109.4
112.2
103.7
132.4
110.7
117.4
108.6
145.2
112.7
126.5
111.9
171.0
114.4
110.5
108.5
125.6
112.2
109.6
111.2
119.4
111.9
111.2
112.8
122.5
111.7
111.5
113.7
122.9
110.5
111.3
113.9
121.2
109.7
111.4
113.7
120.6
110.5
110.2
113.0
' 116. 7
111.1
109.3
111.5
115.7
' 112. 2
112.1
236, 644
88, 473
110, 940
235, 045
87, 889
110, 363
220, 879
75, 850
108, 328
198, 097
56, 289
104, 901
186, 449
45, 094
104, 914
188, 212
46, 048
105, 699
199, 338
52, 330
107, 855
213, 871
69, 239
105, 407
240, 838
90, 595
109, 641
266, 966
107, 192
116, 465
285, 865
116,116
123, 877
295, 234
125, 999
123, 976
2,154
226
2,119
225
2,018
224
1,981
221
1,973
220
1,966
219
1,944
218
1,926
215
1,907
212
1,850
205
1,817
198
1,784
196
* 1, 767
p 195
1,392
133.6
130.4
1,405
134.9
130.5
1,412
135.4
134.3
1,383
132.5
134.6
1,361
130.5
135.7
1,353
129.7
133.0
1,354
129.9
133.2
1,375
131.9
134.0
1,395
133.8
134.3
1,405
134.8
132.9
'1,413
135.5
132.7
v 1,412
* 135. 5
p 132. 7
p 1,410
290.3
323.3
273.6
292.8
328.1
273.7
298.2
331.1
280.8
306.2
337.3
276.2
307.3
340.0
287.9
310.6
344.6
287.9
314.1
349.9
294.2
310.7
349.9
297.5
312.2
353.8
306.7
319.6
365.9
316.1
313.9
' 350. 4
304.4
322.4
357.2
314.4
206.3
397.2
376.2
322.3
285.5
330.3
203.2
408.1
388.0
333.5
291.9
324.3
208.7
416.0
390.1
336.8
285.5
325.7
193.9
430.2
399.9
346.7
290.7
328.9
208.9
425.6
406.6
350.3
282.7
321.1
209.3
422.9
409.6
352.0
278.9
337. 3
212.9
429.6
416.6
354.9
275.6
347.7
219.8
396.6
423.0
357.6
269.7
343.4
236.2
407.1
429.5
362.6
263. 6
329.0
247.0
432.6
434.6
367.9
262.6
357.0
r 235. 3
422.3
420.7
356.1
239.9
' 348. 8
250.4
420.3
426.7
360 2
250.8
340.1
524.1
663.9
507.8
346.6
331.8
285. 2
309. 8
254.4
249.9
267.0
258.1
542.3
681.3
530.2
353.7
338. 8
292.0
315.0
264.2
260.1
271.3
258.3
531.1
680.4
484.3
336.8
345.3
284.7
305.7
268.5
263.7
274.8
266.0
571.2
683.3
533.7
399.1
356.3
290.6
306.9
279.1
273.4
281. 6
275.8
562.6
668.7
535.0
395.8
354.8
292.4
309.2
283.1
278.8
280.0
275.3
558.2
667.8
506.8
377.9
360.0
310.7
333.4
292.0
289.1
278.4
277.4
556.9
662.2
479.9
386.0
359.0
310.1
334.5
292.0
288.8
285.7
279.2
565.3
657.2
487.6
399.1
354.0
323.4
350.5
286.8
282.2
288.8
272.3
561. 3
639.2
477.0
395. 6
349.0
351.4
384.7
285.1
278.9
286.9
271.5
560.3
621.5
481.5
r 394. 3
346.2
374.9
290.4
284.7
298.2
274.2
' 483. 0
r 622. 4
485.1
r 243. 8
326.6
' 359. 8
' 397. 4
281.4
274.4
'r 285. 9
278. 1
482.1
637. 6
518.6
237. 5
332 9
387.3
430.4
293. 3
284.7
299.7
288.4
235.5
281.7
180.9
241.1
285. 4
189.3
246.0
293.5
191.4
253.7
301.2
197.9
254.3
304.4
201.3
262.0
309.1
206.9
265.0
322.0
208.8
255.4
314.8
200.9
248.3
303.2
200.4
242.5
293.5
' 193. 8
237.5
288.7
' 190. 8
239.8
291.4
195.8
242.7
243.7
242.7
253.0
251.8
275.0
262.0
248.3
240.5
240.2
231.1
221.9
317.5
281.3
340.0
222.2
213.7
239.3
193.2
130.4
217.1
279.8
267.1
277.7
214.6
205.3
243.1
195.4
139.6
211.6
272.1
270.5
260.3
207.0
197.0
252.8
199.7
143.4
231.9
274.9
' 248. 3
264. 1
211.5
201.7
267.8
203.9
163.8
241.2
278.9
260.0
284.6
'214.2
' 204. 8
290.8
208.2
265. 2
' 260. 2
303.2
264.8
324.4
220.4
209.9
313.9
92.8
143.5
131.5
194.2
153.6
180.2
f 154. 6
P 178. 2
p 136. 0
89.0
88.4
110.1
130.0
113.7
PAY ROLLS
Production -workers pay rolls, unadjusted index,
all manufacturing (U. S. Dept. of Labor)!
1939=100__
Durable goods industries
do
Iron and steel and their products
do__
Blast furnaces, steel works, and rolling
mills
1939=100.Electrical machinery.. ___
do
Machinery, except electrical
do
Machinery and machine-shop products, do
Machine tools§ _ _ _ _ _
do
Automobiles§
do
Transportation equipment, except automobiles
1939=100..
Aircraft and parts (excluding engines) §. do
Aircraft engines§
do
Shipbuilding and boatbuilding §
do
Nonferrous metals and products
do
Lumber and timber basic products
do
Sawmills and logging camps§
do
Furniture and finished lumber products. _do
Furniture §
do
Stone, clay, and glass products
. do
Nondurable uoods industries . _
do
Textile-mill products and other fiber manufactures
1939=100..
Cotton manufactures, exc. small wares, .do
Silk and rayon goods
do
Woolen and worsted manufactures (except
dveing and
finishing)
1939=100
Apparel and other finished textile products
1939= 100..
Men's clothing§
do
Women's clothing§._
do
Leather and leather products
do
Boots and shoes§
_
do
Food and kindred products
do
Baking
do__
Canning and preserving...
do
Slaughtering and meat packing
do
283.2
283.6
283.0
292.7
300.6
314.1
246.2
271.9
278.4
242.7
277.2
280.8
311.8
284.9
320.1
296.3
340.0
344.8
204.7
199.5
201.6
218.3
220.8
223.0
188.2
195.2
190.8
209.3
197.7
198.9
232. 2
252.0
246.5
263. 3
256. 4
242.5
190.8
199.0
187.5
209.0
201.1
194.5
324.7
212.9
466.8
201.1
158.2
137. 2
110.5
118.2
215.7
236.9
268.0
237.8
T
Revised, v Preliminary. § See note on item on p. S-10 regarding revisions in the data.
{Total includes State engineering, supervisory and administrative employees not shown separately.
ISee note on item in July 1944 and September 1947 Surveys regarding changes in the data beginning in 1943 or 1945.
434. 8
249. 6 '
December figures do not include excess temporary post office substitutes
*New series. Indexes beginning 1939 for employment in retail food establishments are shown on p. 31 of the June 1943 Survey.
r 412.2
SURVEY OF CURRENT BUSINESS
S-12
Unless otherwise stated, statistics through
1941 and descriptive notes may be found
in the 1942 Supplement to the Survey
November 1947
1946
September
October
1947
November
December
January
February
March
April
May
June
July
August
September
EMPLOYMENT CONDITIONS AND WAGES— Continued
PAY ROLLS— Continued
Production- workers pay rolls, mfg., unadj.f — Con.
Nondurable goods industries — Continued
Tobacco manufactures
_
1939=100-^
Paper and allied products
do
Paper and pulp§
do
Printing, publishing, and allied industries
1939=100.Newspapers and periodicals
-do
Printing, book and job§ _ .__ _ _ do
Chemicals and allied products
do
Chemicals
_ __ . _
. do . Products of petroleum and coal
do
Petroleum refining
_ _ ._
_ _-do _ Rubber products
do
Rubber tires and inner tubes§
_ _.do Nonmanufacturing, unadjusted (U. S. Dept. of
Labor) :
Miningrf
Anthracite
- _
.
1939=100
Bituminous coal
do
Metalliferous
_
do Quarrying and nonmetallic
do
Crude petroleum and natural gasf
do
Public utilities:!
Electric light and power
-do
Street railways and busses
__
do __
Telegraph
do ._
Telephone
__
_ _ ___
do .
Services:!
Dyeing a n d cleaning _ _ . _ _ _ _ _ _ _ .-do
Power laundries
-do
Year-round hotels
__
do. _ _
Trade:
Retail, total t
do
Food*
do __
General merchandising!
_ do ___
Wholesale!
-do „
LABOR CONDITIONS
Average weekly hours per worker (U. S. Dept. of
Labor) :
All manufacturing! - _ _
_ hours.Durable goods industries*
do
Iron and steel and their products*
do
Blast furnaces, steel works, and rolling
mills*
_-_
_-hours.Electrical machinery*
do
Machinery, except electrical*
__do_ Machinery and machine-shop products*
hours-.
Machine tools*
do
Automobiles*
do
Transportation equipment, except automobiles*
hours
Aircraft and parts (excluding engines)*
hours.Aircraft engines*
do
Shipbuilding and boatbuilding*
do
Nonferrous metals and products*
do___
Lumber and timber basic products* do
Sawmills and logging camps*
do
Furniture and finished lumber products*
hours Furniture*
do
Stone, clay, and glass products*
do
Nondurable goods industries*
_.do
Textile-mill products and other fiber manufactures*
hours
Cotton manufactures, except small wares*
hours..
Silk and rayon goods*
do
Woolen and worsted manufactures (except
196.0
259. 8
253.3
207.4
268.5
260.4
212.7
276.6
267.0
222.0
284.5
272.7
209.4
285.1
274.3
201.0
288. 1
279.8
193.1
290.9
281.4
181.6
290.9
284.4
182.8
291.1
289.4
194.8
298.0
302.1
200.0
298.7
309.6
203.0
300. 6
311.0
203.1
175. 6
227.9
329. 1
289.6
r 257 3
232! 7
363. 9
400.2
208.4
178.9
233. 4
335.3
294.0
252.7
228.2
361.3
397.6
214.0
182.0
241. 4
345.0
301.3
252.6
226.9
377. 4
414.7
223. 9
189.7
253. 7
357. 0
313.4
250.9
230.2
392.2
425.3
219.6
185.2
249.4
362.9
321. 0
253.9
227.5
386.3
416.3
221.8
191.2
248.4
372.6
323. 5
256. 8
228.8
385.0
413.3
227.7
197.2
253. 5
377. 5
326. 8
262. 1
234.9
374.3
397.3
230.7
202.1
255.2
378. 3
329. 5
265.2
236.8
383.9
414.2
234.2
209.3
255.4
381. 5
334. 9
275. 7
243.8
367.2
399.3
235.9
210.0
258.1
373. 3
338. 9
286.2
253. 8
361.9
396.1
233.6
208.9
' 258. 9
378.7
341.8
295.6
265. 4
352. 7
393. 8
235.5
214.3
254.8
383.6
336. 8
297.2
262.2
357.0
397.0
194.0
234.9
147.0
227.9
149.5
199.9
237.1
148.0
227.6
150.1
182.3
233.1
146.9
222.4
151.0
212. 3
258. 3
159.3
221.9
147. 1
202.0
265.4
156. 8
204.8
153.8
184.7
248.7
162.0
205.6
152. 9
206.2
245.6
162.6
213.7
154.5
155.5
189.8
164.7
233. 2
162.3
186.3
244.6
172.1
241.7
163.4
194.6
252. 3
181.8
251.3
175.3
171.8
194.9
171.9
251.2
173.9
209.3
267.0
179.4
259.6
173.3
153.3
207.9
177.3
265.0
155.3
212.6
201.7
269.2
157.6
210.9
194.2
273.0
161.6
213.6
190.5
264.5
159.5
216.1
189. 1
267.5
163.7
219.5
185.4
269.4
160.8
218.6
198.0
267.2
166.5
218.8
239.3
136. 1
168.2
220.0
226.9
202.9
177.5
222. 1
218.8
292.5
178.4
222.1
215.2
302.2
182.9
225.2
213. 5
306.2
225.6
188.7
209.5
225.7
189.8
214.5
217.0
191.5
218.5
219.5
201.0
218.8
213.8
201.8
215. 1
204.7
196. 1
216.6
214.7
196.9
216.8
221.7
200.5
219.4
231.5
203.8
221.1
241.9
211. 1
226.4
' 228. 2
210.3
222.0
208.9
203. 9
220.9
180.8
173.6
199.0
182.8
182.5
174.6
204.8
184.5
191.7
185.7
225. 0
189.7
212.2
194.6
277.2
197.2
187.2
189.4
208.4
189.7
187.5
197. 1
201.4
190.4
190.1
199.9
205.6
191.6
192.9
202.8
210.4
190.8
195.3
206.0
212.3
191.4
' 201. 6
212.1
218.9
198.0
198.6
213.8
' 214. 1
196.5
197.7
212.2
212.0
198.2
40.3
40.3
39.7
40.5
40.7
40.3
40.2
40.2
40.0
40.9
40.8
39.8
40.6
40.5
40.2
40.4
40.5
40.0
40.4
40.7
40.4
40.0
40.7
40.4
40.1
40.5
40.3
40.2
MO. 7
MO. 5
39.8
40.0
'39.3
39.8
MO. 0
39.6
38.0
40.8
41.1
38.7
40.7
41.5
38.8
40.6
40.9
37.0
41.1
41.4
38.2
40.5
41.4
38.5
40.0
41.3
38.9
40.5
41.5
39.2
40.0
41.5
38.9
39.8
41.4
39.5
39.8
41.3
'37.4
'39.8
40.9
39.2
39.2
40.5
41.2
41.9
38.5
41.6
42.6
38.8
41.1
42.3
38.6
41.8
42.8
39.4
41.7
42.2
38.9
41.5
42.3
38.8
41.6
42.3
39.7
41.6
42.0
38.5
41.6
42. 1
38.3
41.5
42.2
38.7
40.8
41.6
37.7
40.9
41.0
37.3
38.8
40.0
38.4
40.6
40.2
39.7
39.8
39.8
40.2
40.1
40.1
39.7
40.6
41.9
35.7
40.7
41.4
41.2
40.6
42.1
37.7
40.9
41.9
41.5
39.6
37.2
35.7
40.9
40.6
40.2
40.4
41.9
40.0
41.7
41.7
41.1
39.8
41.4
40.2
41.0
40.6
40.0
40.1
40.7
38.4
41.0
42.1
41.8
39.8
39.4
39.9
40.9
41.0
40.6
39.6
39.7
39.9
40.8
41.4
40.9
39.5
39.6
40.4
40.6
42.0
41.7
39.2
38.8
MO. 7
40.5
M2.8
M2.5
* 39. 7
39.2
'39.6
39.6
M2.2
M2.1
40.1
39.2
39.3
39.7
43.2
43.1
41.8
41.6
40.5
40.3
42.2
41.8
40.6
40.2
41.7
41.4
40.3
40.3
42.2
41.6
41.0
41.1
41.8
41.5
40.5
40.7
41.9
42.0
40.1
40.4
41.7
41.9
40.5
40.1
41.5
41.4
40.5
39.6
41.5
41.2
40.3
39.7
41.7
Ml. 6
40.8
39.8
41.2
40.9
40.1
' 39. 7
40.0
40.2
40.2
40.9
40.5
40.4
40.0
39.1
38.9
38.6
38.4
38.2
39.8
40.4
39.9
41.6
40.3
41.1
40.9
41.8
40.6
41.1
40.5
41.6
40.1
41.5
39.3
40.2
38.8
41.0
38.3
40.3
38.3
40.3
38.4
40.0
41.2
41.1
40.5
'39.5
MO. 3
MO. 5
MO.l
36.6
39.2
41.0
41.3
40.1
39.1
41.3
39.4
40.9
40.1
39.1
41. 1
Apparel and other finished textile products*
35.8
35.2
36.7
35.5
37.0
36.8
36.6
36.9
36.7
35.7
36.0
36.9
hours,.
37.2
37.8
37.6
36.6
35.1
37.8
38.1
37.2
37.7
37.8
36.5
37.7
Men's clothing*
do
36.2
34.4
34.6
34.5
35.3
34.9
35.7
36.1
35.5
34.7
35.0
35.8
\Vomen's clothing*
do
39.5
39.0
38.3
38.1
38.1
39.3
38.1
'38.2
37.1
39.1
37.5
38.2
Leather and leather products*
do
37.8
39.2
38.8
38.1
38.0
37.7
39. 1
'37.8
36.9
36.3
37.7
37.9
Boots and shoes*
do
43.0
44.4
42.7
42.3
42.1
43.2
43.3
42.4
42.9
43.6
43.3
43.0
Food and kindred products*
do
43.2
43.0
42.5
142.5
141.9
44.0
45.3
43.9
M2.6
43.6
142.7
44.5
Baking*
do
37.7
38.0
38.3
38.8
37.0
42.9
41.7
37.3
37.6
37.8
40.1
43.5
Canning and preserving*
do
41.9
41.8
46.4
42.7
44.0
43.0
44.9
47.5
M4.5
37.5
44.5
35.9
Slaughtering and meat packing*
do
36.3
36.7
40.2
39.2
37.5
39.7
37.8
38.2
39.2
40.3
39.6
39.5
Tobacco manufactures*
do
43.1
43.2
43.2
43.0
43.7
43.2
42.4
43.4
43.3
42.9
42.9
43.0
Paper and allied products*
do
44.7
44.4
44.2
44.3
44.4
44.6
44.3
41.0
44.5
44.5
44.5
43.8
Paper and pulp*
do
Printing, publishing, and allied industries*
40.3
40.1
41.5
40.1
39.4
41.0
41.0
40.1
39.9
'39.6
41.0
41.0
hours.38.9
38.9
38.8
38.4
39.3
38.9
38.4
39.3
39.3
38.6
38.3
39.4
Newspapers and periodicals*
do
40.7
40.6
40.5
40.0
41.9
42.7
42.0
40.8
41.1
MO. 6
41.7
42.0
Printing book and job*
do
41.3
41.0
41.1
40.9
41.6
41.5
41.4
40.9
41.3
41.3
41.1
40.9
Chemicals and allied products*
do
41.2
40.9
41.3
40.8
41.0
41.4
41.1
41.0
40.9
41.1
40.7
41.1
Chemicals* r
do
40.2
40.5
40.2
40.0
40.4
40.0
40.6
40.3
40.1
40.5
40.4
40.7
Products of P°t oleum and. coal*
do
40.4
39.5
39.9
39.8
40.1
40.2
40.0
40.6
40.7
39.8
40.3
40.2
Petroleum refining*
do
39.5
38.6
41.1
40.6
39.8
39.0
38.4
39.4
40.6
39.1
40.0
40.6
Rubber products*
do
38.2
37.9
37.4
38.2
37.6
39.8
39.5
38.2
39.0
39.3
37.7
39.6
Rubber tires and inner tubes*.
do
»• Revised, p Preliminary. § See note marked "§" on p. S-10.
i Not strictly comparable with data prior to May 1947; comparable April 1947figure,41.9.
*New series. Indexes of pay rolls beginning 1939 for retail food establishments are shown on p. 31 of the June 1943 Survey. Data beginning 1939 for the printing and publishing industries
and the aircraft engine industries will be published later. Data beginning 1939 for all series on average hours will also be published later: see note in the September 1947 issue for reference to
earliest data published in the Survey and explanation of a change in January 1945 which affected the comparability of the data for the machine tools, aircraft engines, and shipbuilding in!Revised series. See note marked "t" on P- s-l°with regard to revised indexes of pay rolls in manufacturing industries and n9te marked "t" on p. S-ll with regard to revised data for
pay rolls in nonmanufacturing industries. Data beginning 1942 for average weekly hours in all manufacturing industries are available in the March 1943 and later issues of the Survey;
revised data prior to 1942 have not been published in the Survey and will be shown later.
SURVEY OF CURRENT BUSINESS
November 1947
Unless otherwise stated, statistics through
1941 and descriptive notes may be found
in the 1942 Supplement to the Survey
S-13
1947
1946
Sep-
Octo-
tember
ber
Novem-
ber
Decem-
ber
Janu-
ary
Febru-
ary
March
April
May
June
July
August
September
EMPLOYMENT CONDITIONS AND WAGES—Continued
LABOR CONDITIONS—Continued
Average weekly hours per worker— Continued
Nonmanufacturing industries:
Building construction
.hours."Mining:
Anthracite
do
Bituminous coal
do
Metalliferous
do
Quarrying and nonmetallic
do
Crude petroleum and natural gas __ _ . _ d o _ _ _
Public utilities:
Electric light and power
do
Street railways and busses
do
Telegraph
_ _do_
Telephone
do
Services:
Dyeing and cleaning
do
Power laundries
-do ._
Year-round hotels
do
Trade:
Retail
do _.
Wholesale
.
-do. ._
Industrial disputes (strikes and lock-outs) :
Beginning in month:
Work stoppages
_
number..
Workers involved
- thousands..
In effect during month: •
Work stoppages
_ __
_ _ .number..
Workers involved _
- _ thousands..
Man-days idle during month
do
Percent of available working time*
U.S. Employment Service placement activities:
Nonagricultural placements f
thousands
Unemployment compensation (Soc. Sec. Admir.):
Initial claims*
thousands
Continued claimsO
do
Benefit payments:
Beneficiaries, weekly average©..
.do ...
Amount of payments
thous. of dol..
Veterans' unemployment allowances: *
Initial claims
thousands
Continued claims
do
Claims filed during last week of month__,do
Amount of payments
thous of dol
Labor turn-over in manufacturing establishments:^
Accession rate
monthly rate per 100 employees.Separation rate, total .
do
Discharges
do
Layoffs
...
_ . .do . _ Quits
do
Military and miscellaneous
_
_ _ -do __
r
38.7
38.8
37.2
38.4
37.6
36.9
38.0
37.1
37.7
37.7
37.9
P39.7
37.7
41.8
40.6
46.1
39.9
39.2
42.9
41.0
46.1
41.2
35.7
41.7
39.9
45.4
40.4
40.9
46.7
42.2
45.8
39.5
39.1
46.7
41.2
43.1
41.3
35.1
43.6
42.0
42.8
40.3
39.8
43.7
41.6
43.5
39.6
32.3
36.4
41.8
44.5
40.8
37.2
44.3
42 2
45.6
40.5
39 2
44.7
42 6
45 6
41.9
36 0
32.5
41 2
45 2
40.6
38 4
40.1
41 6
46 1
40. 1
41.0
47.5
44.8
38.5
41.9
47.7
44.4
39.1
41.6
47.3
43.5
39.3
41.4
47.9
43.2
38.0
41.9
47.7
43.8
38.4
41.6
48.0
44.0
38.0
41.0
47.8
43.7
37.9
42.2
47.8
47.3
26.9
41.6
47.6
46.0
31 5
42 2
47.4
44.8
37 5
42 1
46. 5
44.8
38 4
42 4
46.6
44.8
38 7
42.9
42.9
43.5
42.2
43.0
43.8
41.9
42.6
43.8
42.8
43.5
43.7
42.3
43.3
43.8
41.1
42.5
44.3
42.0
42.4
44.7
41.9
42.8
44.9
42.6
42.7
45 0
42.9
42.8
45 2
42.1
42.6
44 9
40 8
42.2
44 9
40.8
41.8
40.1
41.9
39.7
41.6
40.3
42.3
39.9
41.5
40. 1
40.8
40.0
40.8
40.0
41.2
40.0
41.2
40 8
41.6
41 1
41.1
41.1
41.1
499
356
516
307
344
435
168
76
P290
plOO
p290
p90
p325
plOO
p460
p600
p425
p200
p350
P475
p300
p 500
P325
P 120
853
499
4,880
.8
848
467
6,220
.9
677
707
4,980
.8
402
500
3,130
.5
P460
P150
v 1, 250
2
p460
v 145
f 1, 225
.2
p500
P160
*850
.1
p625
P650
P 7, 750
11
p650
P625
P 5 700
8
p600
p625
p 3 750
5
P 500
p650
p 4, 200
P 500
P250
P 2, 500
Q
.5
532
547
440
358
366
348
391
419
442
453
454
484
546
580
3,895
681
4,141
620
3,492
909
4,119
1,011
4,982
731
4,488
739
4,684
1 020
4,833
1 166
4,802
878
4,905
942
5,219
623
4, 296
i 5^6
3, 742
839
63, 216
765
64, 433
710
54, 098
748
59, 370
893
74, 756
911
65,910
'975
71,545
-•930
71, 569
940
72, 295
1,006
73, 559
958
76, 682
907
* 66, 456
1
780
i 59, 641
449
6,128
1,304
124 082
413
4,900
1,019
100 380
405
3,743
877
74, 421
583
4,345
935
81,964
638
5,246
1,168
106 586
444
4 504
1,149
88 364
397
4 423
1,002
89 052
373
3 913
850
78 806
354
3 173
677
63 722
493
3 021
722
58 509
476
3 446
759
66 213
386
3 023
715
59 521
283
2 448
528
50 171
7.1
6.9
.4
1.0
5.3
.2
6.8
6.3
.4
1.0
4.7
.2
5.7
4.9
.4
.7
3.7
.1
4.3
4.5
.4
1.0
3.0
.1
6.0
4.9
.4
.9
3.5
.1
5.0
4.5
.4
.8
3.2
.1
5.1
4.9
.4
.9
3.5
.1
5.1
5.2
.4
1.0
3.7
.1
4.8
5.4
4
1.4
35
.1
5.5
4.7
4
1.1
31
.1
M.9
4.6
4
10
r3i
.1
p 5. 2
p 5.4
P .4
p .9
p4. 0
P. 1
45.39
48.36
49.29
45.73
48.90
49.86
45.79
48.62
49. 91
46.96
49.57
49.67
47.10
49 60
50.64
47.29
49. 74
50.33
47. 69
50 30
51.31
47.50
50 34
51.78
48 44
51 72
53. 71
50.28
48.31
51.74
50.39
48.28
52.57
50.82
48.33
52.06
48.59
49.13
52.87
50. 89
48.63
53. 12
50.67
48.13
53.22
51. 77
49.07
53.82
52 83
48.36
54 25
56 26
50.24
55 20
58 12
51. 57
56 30
51.05
54.45
53.37
51.91
55.61
53.41
ol.38
55. 90
53. 83
52.62
56.66
54.98
52.78
56.17
54. 13
52.61
56.09
54.29
53. 10
56.46
55 45
53 31
56.06
54 14
54 44
57. 13
55 96
55 53
58.31
57 48
52 65
53.73
56.93
50. 91
48.55
38. 73
37 69
40.86
41.62
44.03
42.34
54 32
53.81
57.31
53.96
48.92
39.21
37 84
41.73
42.42
44.46
42.45
52 37
52.53
51.06
51.47
49.24
37.74
36. 37
41.62
42.41
44.91
42.87
55 35
53.46
56.89
57.21
50.40
38.79
37. 05
42.49
43.04
45. 89
44.24
54 48
52.59
56. 15
* 57. 05
49.91
39. 11
37 41
42.41
43.35
45.58
44.47
54 34
53.41
54. 77
55.37
50. 12
41. 18
r 39 89
42.80
44.20
45.49
44.67
54 25
53. 22
53. 02
56.59
50.26
40.31
39 12
43.00
44 33
46.38
44.89
54 29
52.54
53 69
56.97
' 50. 30
41 01
39 81
42.87
43 99
46.49
44 40
55 31
52.42
54 76
57. 91
51. 15
43 06
41 95
43.45
44 21
47. 24
44.88
T 55 5q
52. 58
55 44
57. 79
52. 06
45 04
44 14
44.24
45 04
48. 54
45.31
37.54
38.09
38. 38
39.26
39.29
40.32
41.01
40. 12
39. 89
39.54
35. 35
37.20
35.57
38.67
36. 14
38. 69
36. 85
39.57
37.06
40.21
37. 56
41.45
39.22
41.94
38.53
40.89
37.73
41.73
r
_
r
r
r
r
1
WAGES
Average weekly earnings (U. S. Dept. of Labor):
All manufacturing t
dollarsDurable goods industries t
do
Iron and steel and their products!
do
Blast furnaces, steel works, and rolling
mills!
-dollars
Electrical machinery f. _
do._.
Mach.in.ery, except electrical!
•
do
Machinery
and
machine-shop
products!
dollars
Machine tools
do ...
Automobilesf
do
Transportation equipment, except automobiles
do
Aircraft and parts (excluding engines) -do.
Aircraft engines*
do
Shipbuilding and boatbuilding
-do _
Nonferrous metals and products t -- -do .
Lumber and timber basic products f
do
Sawmills and logging camps
do
Furniture and finished lumber products f do
Furniture f
do
Stone, clay, and glass products fdo _
Nondurable goods industries f
_ do
Textile-mill products and other fiber
manufactures! _ _ .. _ .
dollars
Cotton manufactures, except small wares!
dollars.
Silk and rayon goodsf-. . . . do .
Woolen and w o r s t e d manufactures
(except dyeing andfinishing)f
dollars. .
Apparel and other finished textile products!
dollars
Men's clothing!
do
Women's clothing§ . _. _.
do Leather and leather products!
do _ .
Boots and shoes _ _ . _ ...do . -
r
r
r
r
49 33
52 99
55. 18
•49 04
52 *>2
T
' 49. 21
52 56
54.51
r
T
53. 69
r
55 23
52. 00
56 14
57.69
51.61
55.83
55 00
56.78
56 44
55.07
57.35
56.07
r 56 1Q
56 36
55.18
56. 58
58.09
51.35
45.26
44. 50
44.06
44.53
48.96
r 45. 75
r
r
r
54. 48
56 19
57.03
51. 16
T
43 57
r
42 86
r 43. 54
r
44 12
*• 48. 01
' 45. 68
r
r
39. 48
39.40
37.10
40. 97
37.21
41. 17
37.50
41.65
42.44
42.40
41.67
42.96
43.10
47.44
46.28
45.26
45.28
45.75
45.33
42.28
37.25
39.14
47.82
37.49
36.18
36.68
38.89
46.25
37.07
35.65
36.54
41.39
43.28
37.24
35. 76
37.23
41.78
44.14
39. 83
38.65
38 22
41.70
47.30
40.18
39.05
38 74
41.86
48.77
40.29
38. 96
38 41
41.99
47.75
40.11
38.91
35 44
40.45
42.32
39.44
37.96
35 36
41.49
41.58
39. 45
37.78
35 77
41 35
41 87
40 12
3H.30
36 50
' 40 17
43 57
r
40. 30
r 38. 49
36 59
38.66
45. 07
40.26
38.32
p 50 42
P 53 96
P 46. 79
r
Revised.
p Preliminary.
i Partly estimated.
• See p. 23 of December 1946 Survey for 1944-45 data.
© Computed from weeks compensated in weeks ended during month.
G Small revisions for January 1940 to May 1944 are available on request.
cf Rates refer to all employees and are therefore not strictly comparable with data prior to 1943 published in the Survey.
§ See note in September 1947 Survey regarding a change in January 1945, also in 1942 for women's clothing industry, which affected the comparability of the data.
* New series. See note marked " *" on p. S-12 of the September 1947 Survey for reference to available data for the series on average weekly hours in nonmanufacturing industries with the excepttion of year-round hotels which has not been included previously. Data are available beginning 1939 for average hours in year-round hotels, average weekly earnings in the aircraft engines
industry, and initial unemployment compensation claims, beginning September 1944 for veterans' unemployment allowances, and beginning 1927 for man-days idle as a percent of available
working time.
! Revised series. The indicated series on average weekly earnings and average hourly earnings (p. S-14) have been shown on a revised basis beginning in the March 1943 Survey; see note
in that issue for an explanation of the revison.
SURVEY OF CURRENT BUSINESS
S-14
Unless otherwise stated, statistics through
1941 and descriptive notes may be found
in the 1942 Supplement to the Survey
November 1947
1946
September
October
November
1947
December
January
February
March
April
May
June
July
August
September
EMPLOYMENT CONDITIONS AND WAGES—Continued
WA G E S— Continued
Average weekly earnings— Continued
All manufacturing — Continued
Nondurable good industries— Continued
44.84
43.85
46.93
47.31
43.59
46.40
46.05
47.71
49.58
Food and kindred products!
dollars46.20
48.27
48.79
1
1
1
i 45 50
45.45
46.01
47.55
46.32
44.60
45 52
45.80
45.17
45.26
44. 84
45 81
Baking^
do
40.82
35.28
37. 93
36.55
41.50
36. 82
45 94
Canning and preservingf
do
38.50
39.39
39 98
37.40
39 37
51.15
43.06
51.73
57.20
41.11
52.82
53. 37
' 56. 82
54 43
Slaughtering and meat packing- _ -do _
50.22
49.87
54.40
36.66
36.74
35. 25
36.47
38.12
35.44
35. 21
37 26
34.84
34.46
36 30
37 74
Tobacco manufactures!
do
45.61
46.08
46.87
47.05
48.79
44.57
47.42
50. 46
48.20
Paper and allied products!
-do
47.92
' 49. 95 r 51. 05
r
49.05
47.55
49.37
49.92
50.18
52.84
50.98
51.27
54 83
56 16
52.07
Paper and pulp
do
56 36
Printing, publishing, and allied industries!
55. 11
54.28
57.03
53.96
56.74
dollars- _
56.60
59.48
58.19
58.69
59.55
' 59. 76 >• 59. 39
60.04
60.28
62.95
61.11
62.08
65.29
67. 86
63.00
67.10
' 66. 60
64.25
Newspapers and periodicals* - - -do
67 16
51. 50
51.50
52.60
54.98
54.19
55.67
56.41
55 96
54.07
56. 13
' 56 77
r 56 81
Printing book and job*
do
r
45.41
45. 50
45.88
47.14
47. 39
51.31
48.17
48. 93
49.80
50. 97
Chemicals arid allied products!
_ -do
48.60
50 59
52.61
52.87
52.96
54.15
54.77
55.33
56. 35
55.10
55.45
57 44
Chemicals
do
56 80
57 73
54.38
55.25
54.50
54.55
55. 24
55. 39
57.92
56. 53
57.41
60 62
Products of petroleum and coal!
do
59 64
60 57
57.32
57.11
58.35
57.74
57.80
57.75
60.01
63 12
59.15
60.24
Petroleum refining
do
64 12
62 17
51.74
52.93
53. 69
54.63
54.03
54.06
55.23
55. 60
55.30
Rubber products!
_ do
52.97
55 77
55 49
57.38
58.87
59.89
60.46
61.64
59.78
Rubber tires and inner tubes _ - . ..do
59.90
61.12
61. 29
58.05
62.06
61 35
Average hourly earnings (U. S. Dept. of Labor):
r
1.139
1.130
1.148
1.161
1.126
P i 251
1.186
1. 207
r 1 231
1 238
1.170
All manufacturing!
dollars
1.180
1 226
r
r
1.202
1.210
1.201
1.216
1.224
1.243
1.229
1.278
1.313
Durable goods industries!
- --do
1.236
1 306
p 1 332
1 303
r
1.241
1.247
1. 239
1.248
1.261
1.258
1. 333
1. 375
Iron and steel and their products!
do
1.269
1.280
1 363
1.365
Blast furnaces, steel works, and rolling
1.303
1.314
1.325
1.310
1.488
1.332
1.317
1.347
1.445
1.333
1.472
' 1. 478
mills!
dollars.
1.186
1.191
1.185
1. 195
1.199
1. 203
1.264
1.210
1. 316
Electrical machinery!
- -do
1.212
' 1 308
1 295
1.266
1.273
1.277
1.260
1.283
1.290
1.308
1.334
1.379
Machinery, except electrical! do
1.298
1.372
1 363
Machinery and machine-shop products!
1.245
1.249
1.257
1.264
dollars. .
1. 238
1.279
1.267
1. 307
1.275
1.353
1.349
1.336
1.306
1.322
1.322
1.334
1. 300
1.326
1.325
1.357
1 397
1.334
Machine tools
do
1 366
1 381
1.394
1.376
1.395
1.385
1.463
Automobiles!
do
1.390
1.399
1.406
1 501
1 396
1 495
1 485
Transportation equipment, except automor I 387
1.359
1.364
1.362
1.356
1.356
1.363
1.367
biles!
dollars
r 1 400
1 420
1.362
1.376
Aircraft and parts (excluding engines)
1.326
1.326
1.325
1.323
1.321
dollars..
1.332
1.326
1.384
1.338
1.328
r 1.372
1.341
1.363
1. 373
1.357
1. 357
1.357
1.344
1.344
1. 353
1.383
1 443
Air craft engines*§
do
1 435
1 428
1.441
1. 432
1.430
1.426
1. 420
1.442
1.426
r 1. 441
Shipbuilding and boatbuilding. - _do - 1.472
1.418
1.433
'1.421
1.204
1.195
1.192
1.210
1.217
1.234
1.222
Nonferrous metals and products! __ . do
1.294
1.226
1.260
1. 290
1.286
.931
.931
. 935
.936
.962
.979
.990
Lumber and timber basic products! do
.983
1.025
1.048
1. 053
1.033
.913
.906
.901
.935
.954
.915
.972
1.006
Sawmills and logging camps
_. _ _ d o _ .965
r 1 018
1 034
1 040
Furniture and finished lumber products!
.999
dollars. .
1.007
1.015
.990
1.031
1.032
.977
1.022
1.046
1.061
r 1.058
1. 069
T
1.014
1.024
1.034
1.046
1.002
1.049
' 1. 064
1.059
Furniture
_ do
1.074
1 085
1 079
1 086
1.114
1.119
1. 125
1.096
1.149
1.173
1. 133
1.087
1.144
Stone, clay, and glass products!
do
1 209
1 190
f 1 198
r
1.065
1.094
1.056
1.077
1.122
1.107
Nondurable goods industries!
do
1.050
1.139
1 159 P i 168
1 140
1.119
1 152
Textile-mill products and other fiber manu.948
.955
.959
.970
.997
1.027
1.025
factures!
dollars. .
.940
1.024
1 031
r 1 028
1 024
Cotton manufactures, except small wares!
.914
.981
.892
.898
.900
dollars. .
.927
.888
.979
.970
.977
.970
.973
.941
.931
.944
.975
1.016
1.019
.922
.996
Silk and rayon goods!
do
1 043
1.012
' 1 017 ' 1 023
Woolen and worsted manufactures (except
1.039
1.045
1.037
1.038
1.159
1.034
1.156
1.158
dyeing and finishing)! _ - - _ dollars. 1.155
1.156
1 160
1. 160
Apparel and other finished textile products!
1.006
.998
.999
.997
1.037
1.049
1.045
.988
dollars. 1.010
.994
1.021
1.040
1.024
1.089
1.095
1.086
1.105
1.097
1.094
1.027
1.106
Men's clothing!
do __
1 090
1 104
' 1 098
1.211
1.223
. 1.314
1. 266
1.297
1. 293
1.200
Women 's clothing§
do
1.300
1.168
1.299
1.182
1.252
r
1.004
1.018
1.023
1.021
.987
1.029
.982
1.028
Leather and leather products!
do. 1.035
1 055
1 057
1 053
.995
.995
.960
.978
.955
.989
.999
.998
1.000
Boots and shoes
do
' 1 018
1 018
1 020
1.035
1.058
1.084
1.046
1.088
1.097
1.013
1.088
1.110
Food and kindred products!
do _
1 144
1
119
1
127
1
1.051
1.042
1.045
1.056
1.065
1 i 067
i i 091
1.003
1.060
1.056
i i 074
Baking§
do
1.057
.982
.975
.983
.950
.997
.995
1.018
1.034
Canning and preserving!
do.960
1 084
1 045
999
1.119
1.147
1.206
1.144
1. 137
1. 193
1.191
1.204
1.214
Slaughtering and meat packing
_ do-_ 1.122
1. 267
1.282
.924
.905
.947
. 938
.949
.939
.948
.893
.937
950
. 951
Tobacco manufactures!
do-- . 953
1.064
1.071
1.088
1.121
1.050
1.098
1.109
1.133
Paper and allied products!
do
1.037
1 192
1 165
1 190
1.111
1.119
1.134
1.173
1.085
1.102
1.149
1.182
Paper and pulp
do
1.157
1 231
1 268
1 266
Printing, publishing, and allied industries!
1.374
1.325
1.381
1.343
1.415
1.462
1.315
1. 443
1.486
dollars. 1.510
' 1. 499 r 1. 499
1.651
1.569
1.511
1.575
1.699
1.528
1.495
1.607
1.626
1 741
Newspapers and periodicals*
do
' 1 719 r I 715
1.295
1.259
1.297
1.364
1.238
1.336
1.232
1.386
1.397
Printing, book and fob*
do_- _
' 1. 406 r 1.408
1.406
1
1. 143
1.192
1.102
1. 133
1. 165
1.210
1.177
1.110
1.112
Chemicals and allied products!
do
1 253
1 232
247
1.278
1.316
1.327
1.342
1.359
1.375
1.281
1.288
1.351
Chemicals
do
1 390
1 404
1 410
1.351
1.362
1.372
1.347
1.382
1. 368
1.408
1.418
1.448
1.494
Products of petroleum and coal!
do
1. 464
1.495
1.434
1.451
1.501
1.428
1.429
1.447
1.520
1.453
1.488
Petroleum refining
do
1 567
1 532
1 570
1.331
1.331
1.313
1.322
1.330
1.323
1.330
1.397
1.416
1 446
Rubber products!
do
1 419
1 446
1.513
1.511
1.503
1.608
1.622
1.492
1.517
1.512
1.507
Rubber tires and inner tubes
_ _ do
1 641
1.615
1.640
Nonmanufacturing industries:*
1.594
1.634
1.549
1.569
1.656
1.526
1.598
1.610
1.510
Building construction
do
1 661
1 669
P 1 689
Mining:
1.593
1.615
1.594
1.545
1. 593
1.582
1. 632
1.611
1.637
Anthracite
do
1 596
1 724
1 564
1.491
1.491
1.490
1.484
1. 483
1.470
1.460
1.477
1.480
Bituminous coal.
do
1.489
1 778
1 732
1.241
1.232
1.229
1.219
1.238
1.278
1.221
1.210
1.237
Metalliferous
do
1 323
1 311
1 353
1.052
1.042
1.047
1.045
1 . 058
1.062
1.069
1.082
1.080
Quarrying and nonmetallic
do
1 110
1 131
1 117
1.334
1.334
1.346
1.355
1.421
1.444
1.448
1.308
Crude petroleum and natural gas§
_ do
1.390
1.475
1 481
1 486
Public utilities:
1.341
1.284
1.313
1.343
1.302
1.337
1.352
1.358
1.291
Electric light and power _
_ _ _._do
1.388
1 378
1.374
1.165
1.174
1.195
1.130
1.125
1.142
1.184
1.190
1.110
Street railways and busses
do
1 212
1 249
1 237
.914
1.069
1.164
1.252
1.067
1.063
1.062
1.164
1.242
1 236
Telegraphed
do
1 228
1 226
1.174
1.131
1.132
1.141
1.132
1.124
1.148
1.137
Telephone § _ _ _ _ _ _
_ __ _ _
do
1.189
1.218
1 215
1 211
Services:
.888
.839
.854
.854
.867
.874
.861
.876
.894
.898
.892
Dyeing and cleaning §
do. __
'.899
.745
.708
.729
.739
.759
.757
.708
.748
.756
.767
.769
Power laundries §
do
.775
.642
.642
.651
.648
.642
.620
.626
.654
.643
.650
.652
.654
Year -round hotels. _
. _ do
Trade:
.974
.953
1.002
.919
.960
.985
.996
.908
.917
.957
1.002
.907
Retail
_ _.do
1.229
1.172
1.202
1.197
1.231
1.241
1.262
1.179
1.257
' 1. 186
1. 230
1.258
Wholesale.- _- _ _ _ ___
_do
'1 Revised. *> Preliminary.
Not strictly comparable with data prior to May 1947; comparable April 1947 figures—weekly earnings, $43.62; hourly earnings, $1.039.
§See note in September 1947 Survey regarding a change in 1945, also in 1942 for the women's clothing industry, which affected comparability of the data.
cfSee note in August 1947 Survey for explanation of increase in February 1947.
*New series. See note marked "*" on p. S-14 of the September 1947 Survey for reference to available data for the indicated series with the exception of hourly earnings for year-round
hotels which has not been included previously; data beginning 1939 for this item are available on request.
!Revised series. See note marked "f" on P- S-13.
SURVEY OF CUEEENT BUSINESS
November 1947
Unless otherwise stated, statistics through
1941 and descriptive notes may be found
in the 1942 Supplement to the Survey
S-15
1947
1946
September
October
November
December
January
February
March
April
May
June
July
August
September
EMPLOYMENT CONDITIONS AND WAGES—Continued
WAGES —Continued
Miscellaneous wage data:
Construction wage rates (E. N. R.):§
Common labor
dol. per hr__
Skilled labor
do
Farm wages without board (quarterly)
dol. per month
Railway wages (average class I)
dol per hr
Road-building wages, common labor:
United States average
do
1.071
1.85
1.073
1.85
1.078
1.86
r
1.085
1.87
1.109
1.89
1.123
1.92
1. 123
1.92
1.138
1.94
1.146
1.94
1.189
2.01
1.217
2.07
1. 221
2.08
1.155
104. 00
1. 132
1.146
1.150
106. 00
1. 146
1.173
1. 146
107. 00
1.136
1.136
1.140
114.00
1.133
1.137
.84
.87
.86
.83
.84
.81
.84
.86
.88
.89
.92
99
107
110
114
116
118
121
122
122
122
123
125
*> 126
89
69
10
96
74
11
99
76
11
102
77
12
103
78
13
104
79
14
107
81
14
108
81
14
108
81
14
109
82
13
110
82
13
112
'83
13
p 112
P84
1.221
2.10
1
112.00
(2)
PUBLIC ASSISTANCE
Total public assistance
mil. of dol
Old-age assistance, and aid to dependent children
^nd the blind total
mil of dol
old-age assistance
_
_ _ __ _do
General relief
do
p 13
FINANCE
BANKING
Agricultural loans outstanding of agencies supervised by the Farm Credit Administration:!
1,741
1,717
1,690
1,662
1.670
1,654
Total
mil. of dol
1 731
1,671
1,661
1,683
1,706
' 1 746
1 746
1,136
1,117
1,099
1,068
1,085
1, 060
1,048
1,040
Farm mortage loans, total
do
1,034
1,028
1,033
1 006
1,018
928
979
966
954
932
944
919
913
Federal land banks
do
910
910
907
900
891
151
157
145
135
140
133
129
Land Bank Commissioner
do
124
121
126
123
118
115
180
151
194
182
189
188
195
158
Loans to cooperatives, total
do
152
180
240
159
205
421
454
389
401
399
444
473
Short-term credit, total
do
416
497
514
523
522
500
74, 552
81, 583
72, 944
77, 193
93, 547
83, 445
83, 502
78, 295
Sank debits, total (141 centers)!
do
78, 359
84, 897
81,799
83, 957
75, 048
31,397
33, 913
31, 088
41,252
34, 305
29, 745
31, 391
33, 547
34, 779
New York City
do
30 895
35 632
31 837
28 331
43, 155
47, 671
46, 105
52, 295
49, 140
49, 955
Outside New York Citv
do _
43, 199
46, 904
47, 464
49, 265
49, 178
49, 962
46, 717
Federal Reserve banks, condition, end of month:
44, 889
44 813
45 647
45, 957
46, 547
44 931
45 006
44 236
Assets total
mil. of dol
4<* 882
46 153
44 425
44 626
45 615
24, 109
24, 594
24, 791
24, 754
24, 093
24. 846
22, 205
Reserve bank credit outstanding, total__.do
23, 431
22, 738
22, 170
21, 875
22, 759
22. 730
253
213
316
163
308
356
538
125
Bills discounted
do
179
137
185
92
70
23, 518
24, 049
23, 944
23, 941
21,857
23, 350
24,117
22, 593
21 549
United States securities
do
22 088
22 192
22 329
21 872
18, 095
18, 229
18,310
18, 381
18, 627
19.113
19, 222
19, 689
20, 296
19, 537
Gold certificate reserves
do
20, 039
20, 534
20, 723
44, 889
44, 813
46, 547
45, 647
45, 006
45, 957
44, 931
44, 626
44, 236
Liabilities, total _ _ __ _ _
do
44, 882
44, 425
46, 1 53
45,615
17,579
18, 928
19. 489
18, 060
18, 249
18, 083
17, 353
17, 869
17, 470
Deposits, total
do
18, 009
18, 695
17, 748
18,718
15, 931
Member-bank reserve balances __ __ _ _ d o _
15,910
16, 063
15, 895
16, 513
16,139
15, 264
15, 826
16, 238
16, 007
16, 112
16. 601
16, 784
r
725
567
562
663
344
654
Excess reserves (estimated)
do
1, 063
847
399
»889
991
823
738
24, 583
24, 448
24, 799
24. 945
24, 387
24, 320
24, 162
24, 022
Federal Reserve notes in circulation
do _
24, 120
24, 090
24, 154
24, 345
24, 482
43.2
42.6
Reserve ratio
percent
43.5
43.0
43.6
45.3
42.7
48 4
46.7
47 7
48 0
47.1
47 8
Federal Reserve weekly reporting member banks,
condition, Wednesday nearest end of month :f
Deposits:
45 621
46, 187
46 552
45 124
Demand adjusted
mil of dol
46 582
44 482
46 751
47 145
46 314
46 626
46 150
46 954
47 056
Demand, except interbank:
Individuals, partnerships, and corporations
mil. of dol__
46, 186
45, 199
45, 584
46, 978
47, 252
46, 106
44, 210
46, 816
45, 798
45, 807
47, 330
46, 443
46, 884
2,872
2,757
2,948
States and political subdivisions
do
2,937
3,075
2,796
2,907
3,109
3, 350
3,268
3,191
3, 124
3, 076
4, 956
5 003
3,762
2, 135
United States Government
do
1,819
1 917
1 817
1 H9
1 561
1 476
648
596
940
r
Time, except interbank, total
do
13, 871
14, 226
13, 806
13, 902
14, 096
14, 303
14 411
14. 063
14, 460
14, 470
14 561
14, 349
14 520
Individuals, partnerships, and corporations
mil. of dol__
13, 573
13, 504
13, 585
13, 775
13, 887
13, 936
14, 005
14, 061
13, 719
14, 055
14,151
13, 955
14, 104
222
226
States and political subdivisions. __ do _
254
285
312
240
259
237
324
328
329
334
328
11 , 094
Interbank
do
11, 146
10, 546
10, 970
10, 705
10, 636
11,269
10, 351
10 126
10, 5S1
10,320
10 833
11 178
48, 336
Investments, total _ _ _ _
______
_do
48, 449
44, 601
46, 996
43, 550
42, 959
45, 037
43, 224
42, 971
43, 574
43, 094
42, 586
42, 740
U. S. Government obligations, direct and
44, 375
44, 281
39 619
43 069
40 642
39 465
Guaranteed total
mil. of dol
41 053
38 850
39 220
38 990
38 739
38 400
38 354
795
746
741
424
Bills
do
962
438
692
827
753
989
638
582
519
r 4 J3g
7,792
7,994
Certificates
do
5,382
6,742
6,299
6,345
5 402
5 036
5 135
4 648
4 535
4 095
30, 636
Bonds (incl. guaranteed obligations) do
30, 566
30, 574
30, 354
30, 374
30, 398
30, 307
30, 472
30, 556
30, 701
30, 935
31,224
31, 015
5,004
5,177
4, 958
Notes
__
...do
3, 461
3, 459
2,815
3,418
2,838
2,702
2, 652
2, 631
2 619
2 632
4,168
3.961
3, 931
Other securities
_ _do _
3,959
4,109
3,927
3,984
4,109
4,004
4,232
4, 104
4, 340
4,233
Loans, total
do
18, 704
18,001
19, 246
19,
566
19,
759
20,
020
22 056
19, 864
19,417
20, 015
20, 277
20, 508
21 212
10, 825
Commercial, industrial, and agricultural, do
10, 180
11,234
11, 599
11, 820
12, 271
11,792
11,346
12, 043
11,809
11,967
12, 518
13, 116
To brokers and dealers in securities
do
1,299
1,367
1,442
1,191
1,235
874
1,471
833
1, 169
1, 095
1,266
1,166
1,234
Other loans for purchasing or carrying securities
1,616
1,506
1,112
mil. of dol__
1,389
1,139
1,051
1, 256
1,063
1, 009
1,023
986
• 975
975
2,324
Real estate loans
_ _
do
2,241
2, 631
2,400
2,490
2, 563
2,739
2,831
2 897
3, 079
2,981
3 244
3 171
9
Loans to banks
do
134
199
152
72
215
170
179
235
184
191
215
158
46
Other loans
do _
2,463
2,551
2,782
2, 815
2,835
2,894
2,629
2,922
2,957
3,109
3, 241
3,077
3 167
Money and interest rates:^
Bank rates to customers:
1 83
New York City
percent
1 82
1 85
1 83
1 77
2 2ri
7 other northern and eastern cities
do
2.43
2.43
2.37
2 44
2.75
11 southern and western cities
do
2 80
2 95
2.76
2 69
Discount rate (N. Y. F. R.
Bank)
___do _
1.00
1.00
1,00
1.00
1.66
1.00
1.00
1.00
1.00
1.00
1.00
1 00
1 00
4.00
4.00
Federal land bank loansd71.
do
4.00
4.00
4.00
4.00
4. CO
4.00
4 00
4.00
4.00
4
00
4
00
r
r
r
1.50
Federal intermediate credit bank loans _ _ _ d o __
1.50
1.50
1.50
'1.52
1.50
1.50
1.52
'1.52
'1.52
1.52
1.52
1.53
Open market rates, New York City:
Acceptances, prime, bankers', 90*days
percent..
.81
.81
.81
.81
.81
.81
.81
.81
.81
.81
.81
.88
.94
Commercial paper, prime, 4-6 months
do
.81
.88
.94
1.00
1.00
1.00
1.00
1.00
1.00
1.00
1.00
1.00
1.00
Time loans, 90 days (N. Y. S. E.) _ _ do
1.50
1.50
1.50
1.50
1.50
1.50
1.50
1.50
1.50
1 50
1 50
1 50
1 50
Call loans, renewal (N. Y. S. E.)
do
1.38
1.38
1.38
1.38
1 .38
1.38
1.38
1.38
1.38
1.38
1.38
1.38
1.38
'Revised. * Preliminary. 1 For bond yields see p. S-19. 1 Rate as of October 1. 2 To be reported quarterly.
§ Rate as of November 1, 1947: Construction—Common labor, $1.244; skilled labor, $2.12.
|The total and total short-term credit have been revised to include emergency crop and drought relief loans which are now supervised by the Farmers Home Administration and publication
of the detail for short-term credit and loans to cooperatives has been discontinued in the Survey; see September 1947 Survey for loans included in these totals.
o* Rates on all loans; see note on item in April 1946 Survey.
{Revised series. Bank debits were revised in the September 1943 Survey to include additional banks; see p. S-15 of that issue for revised figures for May-December 1942. The series for
weekly reporting banks have been shown on a revised basis beginning in the August 1947 Survey; see note in that issue
SUEVEY OF CUKEENT BUSINESS
S-16
Unless otherwise stated, statistics through
1941 and descriptive notes may be found
in the 1942 Supplement to the Survey
November 194T
1947
1946
September
October
November
December
January
February
March
April
May
July
June
August
September
FINANCE—Continued
BANKING—Continued
Money and interest rates— Continued.
Open market rates, New York City — Continued.
Average yield on U. S. Govt. securities:
3-month bills _ percent .
3-5 year taxable issuest
do
Savings deposits, balance to credit of depositors:
New York State savings banks
mil. of dol__
U. S. Postal Savings
do_ -
.375
1.27
.375
1.29
.376
1.28
.375
1.30
.376
1.26
.376
1.26
.376
1.24
.376
1.24
.376
1.27
.376
1.29
.703
1.33
.748
1.31
.804
1.28
8,919
3,207
8,958
3,235
9,013
3,260
9,170
3,284
9,232
3,331
9,278
3,355
9,340
3,379
9,377
3,382
9,427
3,387
9,535
3,393
9,556
3, 398
9,580
P3.403
9, 630
p3,406
8,643
3,288
1,177
425
9,021
3, 458
1,261
466
9,540
3,646
1,358
505
10, 157
3,976
1,558
544
9,982
4,048
1,566
581
9,939
4,156
1,608
631
10, 255
4,329
1,695
691
10, 465
4,537
1,813
753
10, 723
4,733
1,922
810
10, 992
'4,919
r
2, 036
880
' 11,055
r
5, 045
* 2, 092
922
^ r 11,191
5, 185
' 2,168
965
I'll, 434
P 5, 298
p 2, 254
P 1,000
235
311
23
65
118
2,111
824
164
103
86
536
257
322
25
66
125
2,197
865
171
108
90
547
284
337
26
72
134
2,288
907
176
112
94
565
337
366
28
123
160
2,418
956
185
117
98
608
337
352
27
114
155
2,482
1,991
186
122
102
611
338
349
27
107
154
2,548
1,030
190
125
105
611
358
354
29
105
158
2,634
1,079
197
128
108
617
386
366
32
109
167
2,724
1,123
204
133
113
627
409
382
32
114
175
2,811
1,167
213
138
116
633
423
395
'37
119
182
2,883
1, 186
224
143
119
638
429
398
'39
120
184
r 2,953
1,221
233
148
121
649
295
103
2,495
2,000
860
312
104
2,621
2,081
861
328
106
2,859
2,164
871
344
110
3,054
2,253
874
360
110
2,764
2,295
875
377
110
2,602
2,303
878
394
111
2,768
2,279
879
412
112
2,782
2,256
890
431
113
2,835
2,255
900
450
113
2,887
2,271
916
' 467
114
2,786
2,301
'923
«• 487
114
2,761
2,327
156
31
20
18
96
176
34
21
19
105
172
33
22
20
122
191
39
26
25
166
187
33
22
20
98
180
33
21
20
90
214
38
24
23
121
213
39
24
24
116
212
42
24
24
115
211
43
26
24
117
217
44
29
23
123
r 204
42
25
22
113
P 211
P41
P27
p23
P 106
2,755
048
516
1,100
587
4,481
4,478
42
3,550
85
656
147
2,965
160
521
1,481
861
2,617
2,544
45
1,404
74
752
341
2,529
105
515
1,436
501
2,639
2,364
45
1,444
290
669
192
3,662
952
580
1,580
506
4, 113
4,107
43
2,886
86
722
377
3,113
343
576
1,412
674
3,860
3,820
47
2,664
58
693
398
3,914
124
561
1,457
1,804
4,643
4,378
36
3,222
387
666
333
3,598
626
566
1,428
872
5,724
5,701
39
4,650
114
682
239
4,000
141
595
1,728
1,427
2,624
2,556
41
1,597
75
638
274
3,851
92
1,012
1,327
2,035
3,204
2,865
37
1,619
364
595
589
5,540
1, 396
601
1, 493
1,080
5, 480
5,473
35
3,270
121
602
1,452
3,669
245
564
979
1,881
2, 469
2,397
37
1,382
80
663
306
3,060
103
511
908
1,538
2,865
2, 536
31
1,668
352
643
171
2,932
668
494
1 , 002
768
4,884
4,872
34
3,435
133
699
584
265, 369
264,217
240, 364
23, 854
1,151
263, 532
262, 415
238, 400
24, 015
1,116
262, 277
260, 925
236, 671
24, 254
1,351
259, 148
257, 649
233, 064
24, 585
1,500
259, 776
258, 378
233, 601
24, 777
1,399
261, 418
258, 113
233, 176
24, 938
3,305
259, 124
255, 800
230, 618
25, 183
3,324
257, 701
254, 427
229, 147
25, 280
3,274
258, 343
254, 975
228, 789
26, 186
3,368
258, 286
255, 113
227, 747
27, 366
3,173
259, 448
256, 321
227, 805
28, 516
3,327
260, 097
257,110
227. 890
29, 220
2,987
259, 145
256,107
226, 587
29, 520
2,926
T
CONSUMER SHORT-TERM CREDIT*
Total consumer short-term debt, end of month
mil. of dol__
Instalment debt, total
do
Sale debt, total*
.
...
do.
Automobile dealers*
do
Department stores and mail-order houses*
do
Furniture stores*
do
Household appliance stores*
do
Jewelry stores*
do
All other*
__
_ _ _ . . _ . do_.
Cash loan debt, total*
do
Commercial banks*
_ . do
Credit unions
do
Industrial banks*
do
Industrial loan companies*
do
Small loan companies
do
Insured repair and modernization loans*
mil. of dol.. .
Miscellaneous lenders*
do
Charge account sale debt*
do
Single payment loans*.
_
.
_ do_
Service credit* _
do
Consumer installment loans made by principal
lending institutions:
Commercial banks*
mil. of dol
Credit unions
_
do
Industrial banks* _
_ _ _ _ _ _
..do
Industrial loan companies*
do
Small loan companies
do
440
408
' 42
* 124
189
r
3,017
»• 1,248
240
152
r 124
652
r 925
P460
P423
P 44
P129
P198
P 3, 044
P 1, 257
P245
P155
p]24
P643
P 506
p 114
P 2, 859
P 2, 350
P927
FEDERAL GOVERNMENT FINANCE
Budget receipts and expenditures:!
Expenditures, total .
_
mil. of dol
Interest on public debt .
__do
Veterans' Administration
do
National defense and related activities.-- do
All other expenditures
do
Receipts, total
do
Receipts, net
do
Customs _ _ _ _ _ _ _
.
_ _ _ _ do
Income taxes
do
Social securitv taxes
.do
Miscellaneous internal revenue
do
All other receipts.
_ - . _ _
do
Debt, gross, end of month:
Public debt, total
do
Interest-bearing, total
do
Publi c issues
do
Special issues to trust accounts, etc
do
Noninterest bearing
__ _ .
do
Obligations guaranteed by U. S. Governmentf
mil. of dol...
U. S. savings bonds:*
Amount outstanding
. _
_._
_do
Sales, series E, F, and G
do
Redemptions
do
Government corporations and credit agencies :f
T
hi
To aid
T
t tal n
fl'Tirnltnrp
~ "i
To aid home owners
* To aid railroads
To aid banks
ioa
e
ci
do
do
L
I
A l l othpr
~
r1
d ' t ' s " r <?~ d Til at r 1
TT ^ Cn pmrnprit «? piir'tios
nth
't'
TA i l dy, t
tr,
n ' m
' a d equip
L it "
T ' 1 'Vt'
t ' t
d
d
ft" 1
do
ao
d
d
d
d
~ ao
d
~~ d
Bonds, notes, and debentures:
Other
Privately owned interests
U. S. Government interests
do
do
do
391
378
362
331
262
181
175
171
171
83
74
73
70
49, 560
494
482
49, 638
519
489
49, 723
453
418
49, 864
576
504
50, 407
952
483
50, 772
712
398
50, 995
617
449
51, 163
572
455
51, 282
488
421
51, 407
482
433
51, 589
559
457
51, 699
460
404
51, 759
466
432
29 569
5,949
2 860
' 730
171
182
20
237
1,632
' 615
1 429
1 836
390
16 973
2 992
5 004
30, 409
6,649
2,884
' 686
171
192
19
295
2,284
r
596
1 , 265
] 873
547
16 924
3, 152
5,101
32, 338
7, 294
' 3, 055
••665
167
204
17
238
2,855
590
1, 003
1,985
3,426
15, 486
3, 143
4,560
29, 666
7,662
2, 054
660
164
224
6
293
4, 058
597
851
1,777
3, 565
1 2, 691
3,120
2,634
377
1 250
3 377
496
24, 069
261
1,252
3, 588
498
24, 810
169
1,250
3,142
509
27. 268
83
506
2,045
269
26, 763
r
Revised, p Preliminary.
t This series has been substituted beginning December 1945 for the series formerly designated "taxable treasury notes' ; see note on item m September 1947 Survey for earlier data.
*New series. See note marked "*" on p. S-16 of the September 1947 Survey with regard to revisions in data for certain consumer credit series as published prior to the July 1947 issue and
note in the April 1946 Survey indicating earlier revisions; all revisions will be published later. See note in the February 1947 Survey for information on the series for U. S. savings bonds
and reference to the earliest data published.
fRe • '
•
- . - - - .
to the 0
beginning July 1947 certain miscellaneous items included in earlier data (see note 5 on p.
benefits and transfers to trust accounts. Data for social security taxes have been revised to exclude railroad unemployment insurance contributions which are not classified as internal revenue.
See notes in May 1946, October 1946 and February 1947 issues of the Survey for explanation of changes in data for assets and liabilities of Government corporations and credit agencies and note
in November 1946 issue for explanation of revised classifications for the Reconstruction Finance Corporation. Data for obligations guaranteed by U. S. have been revised to include matured
obligations outstanding.
SURVEY OF CURRENT BUSINESS
November 1947
Unless otherwise stated, statistics through
1941 and descriptive notes may be found
in the 1942 Supplement to the Survey
S-17
1946
September
October
1947
November
December
January
February
I
March
April
May
June
July
August
September
FINANCE—Continued
PUBLIC FINANCE (FEDERAL)— Continued
Reconstruction Finance Corporation, loans outstanding, end of month, totalf
mil. of dol__
Banks and trust cos., incl. receivers
do
Other financial institutions
do
Railroads, including receivers
do
Loans to business enterprises, except to aid in
national defense
mil. of dol
National defense
do
Other loans and authorizations
do _
1,327
206
50
147
1,273
203
49
147
1,279
203
49
147
1,287
201
50
147
1,270
188
54
146
1, 268
186
60
146
1, 298
182
68
144
1,290
179
80
144
1,250
177
97
144
1,271
159
40
144
1, 150
157
40
144
1, 154
153
40
143
1,151
152
40
142
160
358
406
158
318
397
165
320
396
168
327
395
172
318
391
174
312
390
178
310
415
183
292
412
186
232
413
203
283
441
207
283
318
214
282
320
21 &
280
318
38, 079
5,289
592
4, 697
594
1,475
29, 504
19, 754
18, 425
4,454
2,522
2,774
540
677
352, 230
38, 807
23, 085
71, 062
219, 276
38, 281
5,317
593
4,724
591
1,474
29, 642
19, 673
18, 343
4, 493
2,527
2,949
550
707
350, 547
50, 716
25, 306
64, 910
209, 615
38, 459
5,365
592
4,773
590
1,472
29, 678
19,558
18,231
4,502
2,517
3,101
581
773
348, 274
39, 224
22, 572
61, 902
224, 576
38, 813
5,437
593
4,844
584
1,471
30, 043
19, 574
18, 225
4, 531
2,490
3, 448
473
805
491,797
94. 380
32, 320
92, 701
272, 396
39, 032
5,480
592
4,888
601
1,470
30, 177
1.9, 542
18, 192
4, 551
2,498
3, 586
532
772
414, 523
73, 068
37, 833
69, 466
234, 156
39, 206
5, 542
595
4, 947
601
1,469
30, 329
19, 571
18, 198
4, 567
2,497
3,694
470
795
383, 857
47, 977
25, 975
68, 491
241, 414
39, 450
5, 601
593
5,008
597
1,471
30, 102
19, 274
17, 880
4,568
2,496
3, 764
878
801
411, 308
49, 826
24, 554
74, 642
262 286
39, 606
5, 661
605
5,056
605
1, 473
30,431
19, 296
17, 904
4,691
2,489
3,955
649
787
351, 978
41, 184
30, 216
63, 629
216,949
39, 776
5, 750
615
5,135
614
1,477
30, 579
19. 274
17, 888
4,751
2,491
4, 063
568
788
381,212
39, 255
27, 162
65, 497
249, 298
40, 057
5,837
624
5,213
622
1,481
30, 740
19, 093
17, 704
4, 965
2, 522
4, 160
588
789
400, 697
46, 305
24, 301
74, 416
255, 675
40, 287
5, 953
632
5,321
631
1,485
30, 936
18,986
17, 603
5,111
2,512
4, 327
525
757
385, 075
63, 021
32,100
65, 185
224, 769
40, 446
6, 041
639
5,402
639
1,490
30, 940
18,864
1 7, 478
5,169
2, 500
4,407
546
790
354, 410
41, 310
27, 147
62, 122
223. 831
40, 693
6, 131
641
5, 490
641
1 494
30, 893
18. 640
17, 255
5, 303
2, 504
4 446
703
831
390,183
47,410
27, 720
75, 045
240, 008
1,711
239
346
1, 126
73
259
250
113
129
48
95
38
121
1,797
199
347
1, 251
88
311
273
118
141
50
96
42
132
1, 648
162
343
1, 143
76
284
253
109
126
44
89
38
124
1, 963
476
290
1, 197
77
274
263
121
133
46
96
44
142
1,742
184
329
1,229
94
326
278
117
121
42
88
36
126
1,718
182
350
1,187
88
301
264
114
126
44
88
38
125
1, 846
181
382
1,283
88
314
280
124
137
50
103
42
146
] , 796
167
360
1,269
90
313
275
•139
48
100
42
138
1,829
227
373
1,230
84
302
267
120
132
48
97
42
139
1,830
291
350
1,189
79
285
259
119
132
47
96
40
132
1, 857
328
318
1,211
78
294
267
120
132
46
102
40
132
1,616
186
326
1,104
73
257
241
110
122
45
93
38
125
1, 583
212
324
1,048
68
231
231
107
124
43
93
36
114
210,898
93, 979
28, 773
7,334
16, 964
38, 415
25, 433
235, 775
111,755
35, 899
7,996
17, 721
36, 232
26, 172
213, 743
99, 258
31,022
6,999
16, 466
35, 226
24, 772
258, 173
108, 249
32, 312
7, 888
15, 550
63, 581
30, 593
266, 447
116,105
39, 995
8,747
22, 581
50, 818
28, 201
238, 744
107, 841
36, 123
7, 393
17,911
41, 377
28, 099
266, 482
120, 772
38, 298
7, 907
17,213
51, 324
30, 968
250, 576
112,363
38, 468
7,583
18, 482
41, 898
31, 782
245, 999
111,679
34, 595
7,693
18, 315
41, 269
32, 448
251,165
108. 444
34, 270
7, 753
18, 868
49, 237
32, 593
247, 203
115, 958
30, 997
8,509
19, 098
40,119
32, 522
218,389
101,415
28, 367
6, 358
17 574
35.218
29, 457
.2977
.0228
. 0541
. 9625
.5701
.0084
. 3017
. 2058
. 3779
2782
4. 0332
.2977
. 0228
.0541
. 9595
. 5701
.0084
.3016
. 2057
.3779
2782
4. 0320
.2977
. 2280
.0541
. 9518
. 5706
. 0084
.3015
. 2058
. 3779
. 2782
4. 0309
.2977
. 0228
.0541
.9544
.5714
.0084
. 3015
. 2058
. 3779
.2782
4. 0294
. 2977
. 0228
. 0544
. 9508
.5714
.0084
.3016
. 2058
.2977
.0228
.0544
. 9569
. 5704
. 0084
. 3015
. 2057
. 3779
. 2782
4. 0274
. 2977
. 0228
. 0544
. 9422
. 5698
. 0084
.3015
. 2057
. 3779
. 2782
4. 0273
.2977
. 0228
. 0544
. 9190
. 5698
.0084
. 3016
. 2058
. 3776
.2782
4. 0274
.2977
. 0228
.0544
.9195
. 5698
.0084
.3016
. 2058
. 3776
2782
4. 0274
. 2977
. 0228
. 0544
.9159
. 5698
. 0084
. 3016
. 2058
. 3775
. 2783
4. 0272
.2977
.0228
. 0544
.9165
. 5698
.0084
.3017
. 2058
. 3776
. 2783
4. 0271
.2977
. 0228
. 0544
* . 9200
. 5698
. 0084
. 3017
. 2058
. 3775
2783
4. 0273
2977
.0228
0544
. 9036
5698
. 0084
3017
. 2058
. 3775
2782
4. 0300
20, 305
12, 306
31, 846
24, 217
57, 221
37, 802
8, 047
6,798
20, 402
115,690
806
24, 989
59, 464
39, 286
8,429
5, 930
20, 470
127, 485
733
78, 636
55, 424
37, 170
8,092
4, 900
20, 529
82, 830
115,915
54, 722
56, 977
37, 5S9
7, 961
6, 255
20, 748
20, 330
196, 080 -684, 474
102, 593
49,215
85, 774
69, 577
5H, 127
41, 044
22,217
37, 330
8, 195
7, S06
5, 483
7,612
20, 463
203, 540
17, 691
171,325
51, 824
32, 094
9 235
5, 500
20, 774
271, 990
17, 458
61, 508
55, 41 2
35, 251
8,921
6, 246
20, 933
13, 057
3,028
132, 762
59, 738
38, 736
9,412
7,220
21, 266
118, 958
2,685
202, 917
57, 215
37,162
9,418
6, 117
21,537
26, 745
3, 639
222, 839
21,766
42,317
5,118
116,776
P 21, 955
153, 112
2, 085
111, 685
7,319
7,033
1,147
5, 557
.901
166
4, 385
.901
858
11, 595
.901
6, 579
7, 861
.867
2,945
13, 295
.765
12,700
4, 589
.723
3, 523
5, 332
.773
1,865
7, 220
1,387
4,488
1, 685
4,408
.668
1, 636
3,410
.636
630
4, 659
.657
953
2,993
929
2,940
842
2,561
1, 013
2,928
767
2,464
893
3,713
1,044
3,250
854
2,730
930
3,896
1,085
2,746
1,029
1,924
2,594
LIFE INSURANCE
Life Insurance Association of America:
Assets, admitted, 3G companies, tot<_mil. of doL_
Mortgage loans, total
do
Farm
do
Other
_. _ _ _
do
Real-estate holdings
do
Policv loans and premium notes
do
Bonds and stocks held (book value), total-do
Govt. (domestic and foreign), total
do
U. S. Government
do
Public utility
do
Railroad
do __
Other
do
Cash
do_
Other admitted assets
do
Premium collections totalj
thous. of dol
Annuities ._
_.
_
-do
Group
do
Industrial
__ .
do
Ordinary
do
Life Insurance Agency Management Association:
Insurance written (new paid-for-insurance):f
Value, 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,
total
thous. of dol
Death claim payments
do
Matured endowments
do
Disability payments
do
Annuity payments
do
Dividends
do
Surrender values, premium notes, etc
do
MONETARY
STATISTICS
Foreign exchange rates:
Argentina
dol. per paper peso
Belgium
dol. per franc
Brazil, free rate§
dol. per cruzeiro
Canada, free rate§
dol. per Canadian dol
Colombia
do] per peso
France
dol. per franc
India
dol per rupee
Mexico
dol. per peso
Netherlands
dol. per guilder. Sweden
dol per krona
United Kingdom, free rate
dol. per £
Gold and silver:
Gold:
Monetary stock, U. S
mil. of d o l _ _
Net release from earmark*
thous. of dol. _
Gold exports!
_
do
Gold imports^
do
Production reported monthly, total® do
\frica
do
Canada®
do
United States®
do
Silver:
Exports^
thous. of dol_ _
Imports'!
do
Price at New York
dol. per fine oz__
Production:
Canada
thous. of fine oz
United States
___do
r
' 2782
4. 0293
374
4, 440
.706
Revised.
JSee note on item in September 1947 Survey for coverage of data and information on a substitution for one company in the assets series in 1944.
§See note on item in September 1947 Survey regarding official rate.
•Or increase in earmarked gold (—).
®See notes in the April 1946 and August 1946 issues regarding revisions in the data for 1941-44 and January-May 1945.
\Publication of data was suspended during the war period; data for November 1941-February 1945 will be published later.
{Revised series. All series for insurance written are estimated industry totals and for group and industrial insurance are not comparable with data published prior to the March 1946 Survey
(seenote in that issue); data for 1940-44 for these series will be shown later; data for ordinary insurance continue the data from the Life Insurance Sales Research Bureau published in the 1942.
Supplement and subsequent monthly issues. See note in November 1943 Survey for explanation of revision in classifications for the Reconstruction Finance Corporation.
*New series. See November 1942 Survey, p. S-16, for a brief description of the series on payments to policy holders and beneficiaries and data for September-December 1941 and early 1942.
SURVEY OF CURRENT BUSINESS
S-18
Unless otherwise stated, statistics through
1941 and descriptive notes may be found
in the 1942 Supplement to the Survey
November 1947
1946
September
October
1947
November
December
January
February
March
April
May
June
July
August
FINANCE—Continued
MONETARY STATISTICS— Continued
Money supply:
Currency in circulation
mil. of dol
Deposits adjusted, all banks, and currency outside banks, total*
mil. of dol
Deposits, adjusted, total, including U. S. deposits*
mil. of dol
Demand deposits, adjusted, excl. U. S.* do
Time deposits, incl. postal savings*
do
Turnover of demand deposits, except interbank and
U. S. Government, annual rate:*
New York City
__ ratio of debits to deposits
Other leading cities
do
28 507
28, 600
28, 861
28, 952
28 262
28, 304
28, 230
28, 114
28 261
28, 297
28 149
v 28 434
170, 200
170, 000
169, 500
167, 107
p 165, 900
p 165, 400
p 165, 100
p 165, 200
p 164, 900
p 165, 100
p 165, 900
P 166 800
143, 700
81, 400
143, 500
82, 400
142, 800
83, 000
140, 377
83, 314
p 139, 800
p 82, 500
p 139, 200
p 80, 600
p 139, 100
p 80, 400
p 139, 200
p 81, 300
p 138, 900
p 81, 500
p 139, 100
p 82, 500
P 140, 900
•P 83, 200
p 140 700
P 83, 400
53, 000
53, 200
53, 400
53, 960
p 54, 200
p 54, 700
p 54, 900
p 55, 100
p 55, 300
p 55, 600
P 55, 600
»» 55, 800
23.7
16.7
21.9
16.3
23.8
17.8
28.7
19.2
23.8
17.4
24.0
18.1
24.9
18.6
21.5
17.0
22.7
17.3
25.6
17.9
22.9
17.2
20.6
16.6
23.1
18.0
PROFITS AND DIVIDENDS (QUARTERLY)
Industrial corporations (Federal Reserve) :
Net profits total (629 cos )c?
mil. of dol
Iron and steel (47 cos )
do
IVTachinery (69 cos )
do
Automobiles (15 cos )
do
Other transportation equip (68 cos )
do
Nonferrous metals and prod (77 cos )
do
Other durable goods (75 cos )
do
Foods beverages
and
tobacco
(49
cos
)
do
Oil producin0" and refining (45 cos )
do
Industrial chemicals (30 cos )
do
Other nondurable goods (80 cos )
do
Miscellaneous services (74 cos )
do
Profits and dividends (152 cos.):*
Net profits
do
Dividends:
Preferred
do
Flectric utilities net income (Fed Res )*
do
Railways and Telephone cos. (see pp. S-22 and
S-23).
SECURITIES ISSUED
698
96
32
42
138
41
41
93
77
67
77
93
853
97
61
102
144
50
57
124
85
77
91
66
873
126
69
99
M7
47
50
98
90
89
96
63
888
99
82
110
i 57
46
57
69
111
87
91
79
310
415
425
438
20
149
142
21
209
156
20
177
191
22
194
166
Commercial and Financial Chronicle:
Securities issued, by type of security, total (new
855
1,012
623
884
1,033
438
533
562
700
761
2 1, 044
••432
783
capital and refunding) J
mil. of dol._635
259
744
659
788
488
783
342
363
349
r 231
2870
619
New capital total J
do
614
744
659
788
249
773
363
329
487
317
•'
231
619
619
Domestic, totalj
__ _ _ _- - do
669
252
118
310
123
517
590
376
267
211
170
483
256
Corporate t
- do
34
12
15
15
21
0
0
0
8
47
0
12
85
Federal agencies
-_ - do _
119
293
212
215
103
69
96
185
49
397
124
'61
277
Municipal State, etc
do
1
21
20
1
0
10
25
0
0
0
10
0
0
Foreign
- do
223
352
135
179
220
191
199
290
102
101
200
175
165
Refunding total J
do
352
135
191
252
102
190
56
96
199
191
r
199
165
170
Domestic, total*
__
do
105
103
31
140
147
65
317
211
86
73
145
118
122
Corporate^
do
34
24
38
13
22
50
33
20
133
40
38
40
42
Federal agencies
___ __ ___ do
2
(a)
11
1
1
1
2
2
3
3
50
11
r 16
Municipal, State, etc
_ _ - do
34
29
123
1
38
0
5
0
0
0
0
5
0
Foreign
_ __ _ do _
Securities and Exchange Commission:!
2,041
1,406
1,686
1,611
1,225
1,957
1,717
1,050
1,276
1,
320
1,088
1,777
Estimated gross proceeds total
do
By types of security:
1,289
1,618
1,799
1,645
1,454
1, 026
1,088
1,900
1,148
1,208
1,016
1,589
Bonds notes and debentures, total
do
'382
249
149
223
309
596
457
660
292
315
412
195
Corporate
-- - do _
39
15
49
112
125
138
75
15
24
112
55
110
Preferred stock
do
28
20
10
26
57
67
82
43
30
47
79
17
Common stock
_ _ _ _ do _
By types of issuers:
265
629
818
322
450
446
738
449
383
248
267
601
Corporate total
- --- - do _
94
233
122
334
145
232
81
214
170
540
134
246
Industrial
- do
45
336
94
141
229
542
63
487
68
126
311
113
Public utility
do
12
29
19
47
33
8
23
17
40
37
28
20
Rail
do
11
9
4
22
8
52
66
3
3
10
14
1
Other (real estate and financial) do
1,141
1,139
1,236
779
1,304
691
1,162
1,396
802
893
821
2 1, 177
Non-corporate total®
do
921
891
653
1,051
619
936
1,170
746
614
703
742
790
U S Government
do
0
0
0
0
0
0
0
0
0
140
0
0
Federal agencv not guaranteed _
do _
344
97
106
214
170
226
400
188
71
50
136
77
State and municipal
do
33
122
0
20
37
0
0
0
15
0
0
0
Foreign
do_ _
New corporate security issues:
442
437
617
807
316
260
441
727
244
377
261
588
Estimated net proceeds total
__ do _ _
Proposed uses of proceeds:
285
254
623
183
205
180
498
511
202
118
138
435
New money total
do
153
105
109
329
557
138
101
426
160
99
101
370
Plant and equipment
- - do _
132
45
101
153
71
72
183
66
43
19
64
37
TV^orking capital
do
152
251
131
49
222
86
173
121
183
170
117
129
Retirement of debt and stock _
_
do _
74
81
18
110
198
164
97
80
36
102
38
103
Funded debt
do
11
15
19
59
31
98
15
6
122
16
18
17
Other debt
do
5
34
6
38
16
11
43
17
12
3
9
60
Preferred stock
do
5
5
19
12
2
5
3
7
6
6
6
24
Other purposes
- do _
Proposed uses by major groups:
119
229
90
328
165
141
530
226
210
130
239
79
Industrial total net proceeds
do
52
204
145
94
129
470
136
71
96
65
108
175
New money
do
34
22
31
41
53
92
122
70
133
13
16
56
Retirement of debt and stock
do _
483
43
67
332
124
93
225
536
61
111
140
307
Public utility total net proceeds
do _
411
14
223
31
18
47
353
108
30
13
234
28
New money
do
108
33
29
61
192
72
20
181
17
98
72
107
Retirement of debt and stock
__do __
12
18
33
8
17
37
28
47
40
19
23
28
Railroad total net proceeds
do
35
7
9
15
28
18
28
17
21
23
16
22
New money
do
12
5
2
2
22
0
19
0
0
3
0
0
Retirement of debt and stock
do _ _
Real estate and financial, total net proceeds
9
11
66
3
1
8
52
10
21
3
3
14
mil of dol
1
5
32
5
3
5
1
3
21
'58
2
3
New money
do
5
6
8
5
0
20
0
0
1
0
1
0
Retirement of debt and stock
do _ r
l
2
Revised. * Preliminary. Partly estimated. Includes $250,000,000 bonds of International Bank, (a) Less than $500,000.
cTSee p. 31 of the October 1946 Survey for revised 1941-44 data for 629 companies and the industrial groups. JSee note in the April 1946 Survey for revisions in the data for 1944.
(g)Includes data for nonprofit agencies not shown separately. The July figure includes also $250,000,000 bonds of International Bank.
*New series. For data for 1929-40 for profits and dividends of 152 companies, see p. 21 of the April 1942 Survey; 1941-44 revisions are available upon request. See note on p. S-17 of September 1944 Survey for description of series on net income of electric utilities and data beginning third quarter of 1943. For a brief description of the series on bank deposits and currency outside banks and data beginning June 1943, see p. S-16 of the August 1944 Survey; beginning January 1947 data are for the last Wednesday of the month instead of the end of the month. Data
beginning 1939 for turn-over rate of bank deposits and a description of the data will be published later.
fRevised series. There have been unpublished revisions in the 1941-44 data for security issues compiled by the Securities and Exchange Commission, as indicated from time to time in
notes in the Survey, and revisions in the 1945 data as shown in the September 1946 and earlier issues; all revisions will be published later.
SUKVEY OF CURRENT BUSINESS
November 1947
Unless otherwise stated, statistics through
1941 and descriptive notes may be found
in the 1942 Supplement to the Survey
S-19
1947
1946
September
October
November
December
January
February
March
April
May
June
July
August
September
FINANCE—Continued
SECURITIES ISSUED— Continued
State and municipal
issues (Bond Buyer):
Permanent (lonCT term)
thous of dol
Temporary (short term)
_
do _ _ _
89, 389
131, 893
53 290
62, 729
78 194
47, 388
175 449
10, 685
228 929
77, 979
100 184
81, 067
353 502
146, 137
405 776
71, 803
109 692
29 927
214 749
49, 717
144 801
136 364
r 195 240
'30,715
268, 780
66, 763
29
61
58
208
76
183
106
190
139
172
388
194
510
360
314
283
328
369
358
531
601
509
503
482
847
393
530
564
550
570
251
677
241
656
276
630
102.62
103 09
73 28
i 102. 06
102. 54
73 28
COMMODITY MARKETS
Volume of trading in grain futures :J
Wheat
Corn
mil ofbu
do
SECURITY MARKETS
Brokers' Balances (N. Y. S. E. Members
Carrying Margin Accounts)^
Customers' debit balances (net) mil. of dol.
Cash on hand and in banks . _ . _ __ _ _ _ _ _do Money borrowed
do_
Customers' free credit balances
do
Bonds
Prices:
Average price of all listed bonds (N. Y. S. E.)
dollars..
Domestic.
__
__
do __
Foreign
do
Standard and Poor's Corporation:
Industrials, utilities, and railroads:
High grade (15 bonds)
dol. per $100 bond__
Medium and lower grade:
Comnosite (50 bonds)
.
do
Industrials (10 bonds)
do
Public utilities (20 bonds)
do_.
Railroads (20 bonds)
do
Defaulted (15 bonds)
. _ ___ -do
Domestic municipals (15 bonds) f
do
U. S. Treasury bonds (taxable) f
do
Sales (Securities and Exchange Commission):
Total on all registered exchanges:
Market value §
thous. of dol
Face value §
do
On New York Stock Exchange:
Market value§
- -do
Face value §
do
Exclusive of stopped sales (N. Y. S. E.), face
value total
thous. of dol
U S Government
do
Other than U. S. Government, total do
Domestic
do
Foreign
- do_
Value, issues listed on N. Y. S. E.:
Face value all issues
mil. of dol
Domestic
do
Foreign
_ _do
Market value, all issues
do
Domestic
do
Foreign
_
_ _ _ _ _ _
d o .
Yields:
Domestic corporate (Moody's)
percent__
By ratings:
Aaa
do
Aa
do
A.
__
do
Baa
do
By groups:
Industrials
do
Public utilities. _ _
_ _ _ _ _ _ _ ___do
Railroads
do
Domestic municipals:
Bond Buyer (20 cities)
do
Standard and Poor's Corp. (15 bonds) _ _ _ do
U. S Treasury bonds, taxablef
do
Stocks
Dividends:
Cash dividend payments and rates, 600 cos.,
Moody's:
Total annual payments at current rates
mil. of doL_
Number of shares, adjusted
millions
Dividend rate per share (weighted average)
dollars _ _
Banks (21 cos.) .
_
do
Industrials (492 cos.)
do
Insurance (21 cos.)__
_
.do
Public utilities (30 cos.)
do __
Railroads (36 cos.)
do
Cash dividend payments publicly reported:*
Total dividend payments
.
mil. of dol
Manufacturing _ _ _ __ __ . _ _ _ .. do_
Mining
do
Trade
_
do
Finance
do
Railroads
do
Heat, light, and power
do_. „
Communications
_do
Miscellaneous
do
631
583
571
573
576
553
253
720
238
723
537
453
217
693
533
305
729
210
687
217
681
216
677
?05
665
201
652
552
395
222
650
102. 15
102. 56
77.95
102. 46
102. 88
77.19
102.00
102. 41
76.89
102. 64
103. 07
76.18
102. 89
103. 30
77 12
102. 86
103 27
77 20
102. 95
103. 36
77 00
1G2. 63
103 06
76 42
102. 49
1C2 92
75 32
102. 25
102. 70
74 02
102.33
109 77
74 16
122.8
121.8
121.6
121.5
122.6
122.7
122 .4
122.8
122.9
122.8
122.5
122.3
121.5
117.4
123.3
114.7
114.3
65.4
137. 8
103.3
115.8
122.2
112.9
112.3
62.7
136. 0
103.6
115.9
122.5
112.6
112.7
63.6
136.8
103.7
115.9
123.0
111.9
112.9
67.7
133 4
103.9
116.3
123 5
111.2
114 3
68.3
134 4
104 3
116
123
112
114
69
133
104
116 6
123 7
113 6
66 1
132 5
104 6
116
123
112
113
64
133
104
5
5
7
2
0
2
6
115 0
123 2
119 5
109 2
61 9
133 9
104 5
114.3
122 6
113.0
107 3
63 4
134 4
104 1
11 5 7
122 8
113 8
110 5
69 6
134 7
103 8
116 1
123 9
113 9
110 4
6^' 6
134 3
103 9
115 8
121 9
114 1
109 3
68 6
134 4
104 0
104, 881
167, 352
85, 870
131,885
66, 551
97, 458
121 416
161, 049
100 265
136 235
73 249
100 247
67 522
89 587
68 974
94 673
71 024
98 349
67 490
88 531
85 253
109 385
64 8S6
81 063
60 326
80 312
99, 647
160, 265
81, 197
125, 782
62, 101
91, 836
116, 541
154, 937
95 470
130, 028
68 979
95 349
63 187
81 491
64 393
88 961
63 880
90 458
58 248
78, 115
76 972
99 723
56 618
70 705
51 284
69, 316
149, 259
125 491
126
125, 365
118 519
6,846
79 987
98
79, 889
74 530
5 359
75 582
35
75, 547
68 860
6 687
81 601
828
80, 773
74 885
5 888
82 526
' 140
82, 386
75 863
6 523
70 077
386
69, 691
63 590
6 101
1 152
2 95, 509
76 937
5 101
60 490
14
2 60, 476
52 588
5 216
73 440
73
2 73, 367
63 949
7,344
106
956
150
033
373
137 219
135, 044
9 174
140 833
139 172
1 662
137 019
134, 856
2 163
140 426
138 797
1 629
8
7
4
3
3
1
4
rll2 5
112 738
95 127
148, 791
142, 298
6,493
112, 346
106, 488
5,858
94, 902
89, 201
5, 7C1
127 553
265
127, 288
120, 544
6,744
136, 838
134, 569
2,269
139, 784
138, 015
1,769
136 880
134, 644
2,236
140, 245
138, 520
1,726
136 787
134, 584
2,203
139, 521
137, 827
1,694
137 165
134, 995
2,170
140. 793
139, 139
1, 653
137 006
134, 859
2, 148
140, 966
139 310
1,656
I'eeo
I 9f ) 937
134, 806
2 132
140 978
139 336
1 641
2.79
2.82
2.82
2.83
2.79
2.78
2.79
2.78
2.79
2.81
2.80
2.80
2.85
2.58
2.68
2.80
3.10
2 60
2.70
2.84
3.15
2.59
2.69
2.84
3.17
2 61
2.69
2.83
3. 17
2 57
2 65
2.79
3 13
2
2
2
3
2
2
2
3
2
2
2
3
53
63
81
16
2 53
2 (53
2 89
3 17
2 55
2 64
2.83
3 21
2
2
2
3
2
2
2
3
2
2
2
3
2 64
2.75
2.98
2 65
2.76
3.05
2 66
2.77
3.05
2 66
2.77
3 04
2 63
2.73
3 00
2 61
2 72
3 00
2 61
2 73
3 02
2 60
2 71
3 03
2 60
2 71
3 05
2 60
2 72
3 10
2 62
. 2 72
3 06
2 63
2 72
3 03
2 67
2 78
3 09
1.73
1.75
2.28
1.66
1.84
2.26
1.78
1.80
2 25
1.85
1.97
2 24
1 81
1 92
2 21
1 97
1 99
2 21
1 90
2 02
2 19
1 89
1 98
2 19
1 83
1 95
2 19
1 81
1 92
2 22
1 81
1 91
2 25
1 83
1 93
2 24
1 82
1 93
2 24
1,955
941. 47
2,002
954. 65
2,066
954. 65
2,111
954. 65
2,129
954 65
2,196
954 65
2,196
954 65
2,224
954 65
2,310
954 65
2,310
954 65
2, 329
954 65
2,348
954 65
2,358
954 65
2.08
3.21
2.03
2.58
1.82
2.65
2.10
3.20
2 05
2.59
1.88
2.59
2.16
3.20
2. 12
2.59
1.90
2.76
2.21
3 20
2 19
2.59
1.90
2.77
2.23
3 21
2 22
2 59
1.92
2 75
2.30
3 21
2 32
2 59
1.95
2 75
2.30
3 21
2 35
2 59
1 95
2 66
2.42
3 21
2 50
2 59
1 96
2 gg
2.42
3 21
2 51
2 59
1 98
2 66
2.44
3 21
2 52
2 59
1 99
2 67
2.46
3 21
2 55
2 59
1 99
2 68
2.47
3 21
2 56
2 59
1 99
2 68
468
392
225
137
134,
2
141
139
55
64
79
12
55
64
80
15
2. 00
GO
3 21
2 40
2 59
1 96
2 66
Qfi
fifil
137 058 3 107 c/io 3 137 6^8 3 137 666
134, 932
135, 281
135, 210
135, 175
2 135
2 126
2 1P8
° 138
140, 148 3 140 763 3 141 236 3 140, 499
138 715
138 574
139 394
138 923
1 533
1 574
1 589
1 585
55
64
82
18
56
64
81
17
61
69
86
23
455.1
342.1
160.5
963.1
434 5
190 5
492 5
559 3
388 9
444 9
609 4
179 4
159 2
276.9
146.5
86.8
561.1
160.9
89 1
308 5
162 7
191 7
339 7
349 0
96 4
85 9
23.9
4. 1
4 2
74 1
2 9
12
25 4
12 4
5 9
58 0
15
68* 4
13
40.9
23.0
9.9
90.2
50 0
45 3
9 6
35 1
42 2
29 4
39 5
9 3
9 6
51.9
31.8
24 0
98 1
92 4
29 5
25 8
55 9
48 8
29 8
90 6
31 7
18 2
44 4
17.3
12 4
2 0
19 4
22 7
8 0
21 6
34 2
17 1
11 2
5 9
5 4
34.8
45.1
31.2
48.2
46.1
51 0
36 3
47 5
34 7
51 2
46 2
31 0
35 9
3
3
47.5
12.6
.3
50.1
14.3
9.9
.3
49 6
9 8
9 4
50 0
16.9
2.1
34.8
10.6
1.8
12 4
18.fi
10.fi
9. fi
IS 9
18 7
3a
11.6
T
Revised.
JData
continue
series
in
the
1942
Supplement.
1
Prices
of
bonds
of
the
International
Bank
are
included
in
computing
the
averages.
2
Includes sales of bonds of International Banks as follows: July, $13,471,000; August, $2,672,000; September, $2,074,000.
3 Includes bonds of International Bank as follows: Face value—July, August and September; $250,000,000; market value—July, $255,000,000; August, $253,000,000; September, $251,000,000.
§Since March 18, 1944, United States Government bonds have not been included.
^See note in September 1947 Survey for source of data.
*JXTew series. Data for dividend payments for 1941-44 are available on p. 20 of the February 1944 Survey and p. 31 of the February 1947 issue.
{Revised series. For explanation of revision in the series for municipal bonds and data beginning February 1942, see p. S-19 of the April 1943 Survey; earlier data will be published later.
Hevised figures through 1943 for prices and yields of U. S. Treasury bonds and a description of the data are on p. 20 of the September 1944 Survey.
SUEVEY OF CURRENT BUSINESS
S-20
Unless other-wise stated, statistics through
1941 and descriptive notes may be found
in the 1942 Supplement to the Survey
November 1947
1946
SepOctotember j
ber
1947
November
December
January
February
!
March
April
|
:
1
May
1
June
July
August
September
FINANCE—Continued
1
SECURITY MARKETS—Continued
Stocks—Continued
Dividends—Continued
Dividend yields:
Common stocks (200), Moody's
percent-Banks (15 stocks)
do
Industrials (125 stocks)
do
Insurance (10 stocks)
do
Public utilities (25 stocks)
do
Railroads (25 stocks)
do
Preferred stocks, high-grade (15 stocks), Standard and Poor's Corporation _ .
percent-.
Prices:
Average price of all listed shares (N. Y. S. E.)
Dec. 31, 1924 = 100..
Dow-Jones & Co. (65 stocks)
dol. per shareIndustrials (30 stocks)
do
Public utilities (15 stocks)
do
Railroads (20 stocks)
do
Standard and Poor's Corporation:
Industrials, utilities, and railroads:
Combined index (402 stocks)- -.1935-39=100.
Industrials (354 stocks) _.
do__Capital goods (116 stocks)
do
Consumer's goods (191 stocks)
do
Public utilities (28 stocks)
do.. _
Railroads (20 stocks)
do_._
Banks, N. Y. C. (19 stocks) _
do....
Fire and marine insurance (18 stocks)
do_-.
Salcs (Securities and Exchange Commission):
Total on all registered exchanges:
Market value
mil. of dol_
Sh ares sold
thousands _
On New York Stock Exchange:
Market value
mil. of dol.
Shares sold
thousands.
Exclusive of odd lot and stopped sales (N. Y
Times) _ _ _ _ _ _
thousands.
Shares listed, N . Y . S. E.:
Market value, all listed shares
mil. of dol.
Number of shares listed
millions.
4.4
3.9
4.3
3.5
4.7
6.3
4.6
4.0
4.4
3.6
4.8
6.9
4.5
3.9
4.4
3.5
4.6
6.6
4.5
4.2
4.4
3.3
4.6
6.6
4.7
4.2
4.6
3.3
4.7
6.8
4.8
4.4
4.7
3.4
4.9
6.8
5.1
4.6
5.0
3.6
4.9
7.3
5.3
4.6
5.3
3.7
5.0
7.5
5.1
4.6
5.0
3.5
5.1
7.3
4.9
4.4
4.8
3.5
5.1
6.7
5.1
4.4
5.0
3.6
5.0
7.0
5
4
5
3
5
7
3.65
3.70
3.76
3.74
3.71
3.72
3.75
3.76
3.76
3.72
3.71
3.
80.2
62. 66
172.72
35. 05
49. 59
79.3
61.10
169. 48
34.58
47.28
78.5
61.77
168.94
35. 23
49.24
81.6
63.97
174.38
51. 18
36.77
82.4
63. 78
176. 10
36. 55
49. 56
81.1
65. 83
181.54
37. 17
51. 74
79.4
63. 64
176. 66
36. 02
49. 15
75.7
61.04
171. 28
34. 52
45.88
74.4
59.49
168. 67
33.39
43.60
77.3
61.26
173. 76
33. 98
44.86
80.3
65. 32
183. 51
35.61
49.38
78.3
64. 36
180.08
35. 58
50.45
77
63.
176.
35.
48.
125.4
128.8
114.6
136.9
109.7
119.0
107. 5
119.4
122.3
125. 9
112.4
132. 3
107.2
110.2
105.0
113. 8
1 20. 6
123.8
111.5
130. 0
105. 5
113.3
108.5
115.8
125. 5
128.9
117.9
133. 5
109.8
118.8
108.7
117.6
125.2
128.5
117.6
133.8
110.7
114.7
106. 2
122.3
128.7
132.6
121.6
139. 7
111.4
118.8
103. 9
125.8
123.7
127. 7
117. 1
133.5
107.3
109. 9
101.2
122.4
119.3
123. 1
113.0
126.7
104.6
102. 2
94.7
118.8
115.2
119.0
108. 0
121.4
102.0
95.1
95.0
114.0
119.1
124. 1
111.9
126.4
100.8
97.6
94.7
117.0
126. 0
131.7
118.9
134.6
102.2
108. 2
97.3
120.5
124.5
130.2
117.0
132.4
101.4
105.2
98.0
116.1
12;
12?
11
13(
10
10
9
11
1, 903
81, 805
1,297
54, 552
1,118
51, 669
1, 273
56, 527
1,100
47,312
1,144
53, 518
928
37, 227
980
45, 116
884
40, 181
804
35, 349
1,051
45, 536
727
29, 191
29,
1,617
60, 438
1, 103
38, 919
951
36, 955
1,074
39, 723
918
32, 628
944
34, 109
770
25, 302
826
32, 338
739
27, 854
668
23, 643
890
32, 951
624
21, 534
29,
43,450
30, 384
23, 819
29, 834
23 557
23, 758
19,337
20, 620
20, 616
17, 483
20, 595
14, 153
16,
66, 864
1,750
66, 115
1,756
65, 741
1,764
68, 595
1,771
69, 627
1,779
68, 839
1,786
67, 608
1,792
64, 520
1,794
63, 646
1,814
66, 548
1,829
69, 365
1,847
68. 184
1, 862
67,
1,
4.4
4.0
4. 1
3.6
4.6
6.5
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
1923-25 = 100..
do
do
.
do
do
do
1924-29=100 .
._ _ - _ d o _ - _
.
_
do
. do _ „
do
do
154
168
109
1 2/
142
112
226
260
115
249
291
117
245
294
120
250
304
121
286
350
123
274
344
126
296
378
128
258
330
128
238
306
129
233
306
132
296
120
118
100
120
124
104
141
146
104
145
154
106
155
167
109
119
133
113
116
136
117
123
151
124
121
142
119
124
147
119
118
139
118
108
126
118
151
69
59
43
31
102
76
108
90
94
92
109
128
111
128
93
115
95
117
89
121
67
91
63
63
101
87
69
51
136
113
160
142
142
144
158
190
162
189
141
168
150
171
132
159
119
150
121
119
89
101
86
90
108
117
109
112
141
132
100
96
94
81
104
96
102
105
93
100
84
93
74
80
' 16,325
12, 571
7, 852
14, 882
8,523
12, 579
8, 135
13,389
9, 623
14, 637
8,201
16, 954
9, 199
19, 628
9,684
26, 509
10, 317
SHIPPING WEIGHT*
Exports including reexports
General imports
_
mil. of Ib
do
' 9, 113
'24,
' 24, 938 22, 749
10. 103
10.
11, 262
VALUE §
1, 299
1,327
1,422
1,
1,242
1, 097
1,150
537
1, 114
1,151
988
643
1, 150
1,115
Exports, total, including reexports
mil. of doL_
(a)
(a)
(a)
1
2
2
4
3
8
9
8
12
1
Lend-lease*
do
By geographic regions:
52, 512
73, 792
68, 709
86, 806
74, 829
65, 768
53, 070
46, 463
56, 357
16, 081
74,
70, 434
27, 553
Africa
thous. of dol__
213, 638
177, 172
1 77, 270
223, 993
196,981
208, 207
1 60, 783
220, 012
223,
67, 263
121,680
164, 543
99, 470
Asia and Oceania
do
496, 079
516,911
484, 084
454, 447
431,090 405, 527 409, 976
168, 352
388, 288
362, 113
435 224
431,
234, 137
Europe
do
188, 353
150,313
185, 116
156,202
210, 276
191, 551
164, 909
157, 786
149, 049
191,
158, 202
181, 193
135,651
Northern North America
do
152, 356
144, 662
140, 675
148, 641
143, 415
142, 223
126, 988
130, 155
73, 395
120, 557
126,
126,057
79, 293
Southern North America
do
215, 955
144, 489
180, 777
174, 836
226, 401
239, 160
193, 251
187, 616
170, 140
193,
53, 313
197, 148
66, 948
South America
do_. .
Total exports by leading countries:
Europe:
76, 432
75, 102
76, 463
73, 081
65, 096
54, 669
88, 123
75,
67, 492
21, 190
70, 761
56, 841
27, 530
France
- - .do
12, 249
14, 876
13, 704
14, 900
17, 891
2,331
11,689
10, 943
12, 615
9, 595
12,936
8,518
12,
Germany
_ _ __
__do
55,
352
50,
529
49,
189
26,
606
4,424
46,
830
50,
31,
056
31,
846
40,
507
44,
445
21,651
29, 927
Italy
do
Union of Soviet Socialist Republics (Russia)
7,232
9,281
27, 116
14, 078
' 7, 140 15, 742
11, 106
16,039
24, 671
15, 780
12, 531
4,051
thous. of doL93, 465
' 99, 804 95, 697
102, 586
74, 035
111,656
102, 650
116, 748
94, 497
46, 097
'99.
95, 705
66, 812
United Kingdom
do
r
Revised.
a Less than $500,000.
§ The publication of practically all series on foreign trade included in the 1942 Supplement but suspended during the war was resumed in May 1946 Survey. Export statistics include lendlease exports shown separately above, shipments by UNRR A and private relief agencies, and since June 1945 comparatively small shipments consigned to United States Government agencies
abroad; shipments to U. S. armed forces abroad are excluded. Revised 1941 figures for total exports of U. S. merchandise and total imports are shown on p. 22 of the June 1944 Survey; revised
figures for 1942-43 for the totals and revised figures for 1941 and later data through February 1945 for other series will be shown later.
*New series. The series on shipping weight, compiled by the Bureau of the Census, represent gross weight of merchandise, including weight of containers, wrappings, crates, etc.; the data
were revised in the October 1947 issue to cover only water-borne trade; revised earlier data will be published later. See note in September 1947 Survey for explanation of data shown as lend-lease
exports and reference to source of annual totals for lend-lease exports for 1941-45.
SUEVEY OF CURRENT BUSINESS
November 1947
Unless otherwise stated, statistics through
1941 and descriptive notes may be found
in the 1942 Supplement to the Survey
S-21
1947
1946
September
October
November
December
January
February
March
April
May
June
July
181,351
351, 187
66, 464
65, 445
11, 481
19, 930
37, 227
62, 515
30, 623
181 511
350, 365
49, 415
61, 240
9,919
21, 234
47, 577
57 002
46, 138
203, 624
369, 636
71, 653
68, 535
12, 387
23, 467
42, 725
56, 862
39, 095
187, 004
305, 552
57, 778
50, 050
11,417
17, 133
41, 560
46, 881
35, 430
160, 5fll
302, 961
53, 729
50, 143
10, 487
17, 374
32, 740
51 399
34, 947
176, 796
308, 544
74, 428
45, 294
10, 584
14, 190
33, 249
44, 192
31,364
19,562
5,769
37, 370
4,576
43 448
3,371
11, 286
42 937
40, 000
1,304
14,271
4 172
26,164
5 537
38 598
283
9,779
32 037
34 656
1,280
24, 458
7, 145
41,395
6, 765
41 676
2 063
16, 814
33 066
41, 763
1,408
20, 668
5,205
55, 538
6,473
55 815
230
9,302
29, 31 0
36. 438
1,228
26, 364
7 790
39, 349
5 284
28 166
424
8,103
30 094
34, 725
1,139
23, 822
5,619
19, 678
5,383
24 536
480
6, 236
32 689
36, 789
1,139
149 576
81,251
135, 941
147 032
790, 493
129 807
81 542
129, 290
145 828
794, 046
143 691
80, 031
144, 515
171, 0?4
869, 196
152, 767
56, 812
137, 375
159,436
721,880
95 533
61, 970
121,512
151 277
708,914
121 250
66, 553
108, 035
164, 685
678, 563
289. 178
315, 837
279, 720
60, 748
45, 588
41, 134
27, 332
21,457
19,086
126 882
120 3»5
1^5 125
19, 692
32, 807
21 206
988, 245 1, 000, 688 1,119,255
95, 875
104. 684
114,878
77, 968
67, 405
67, 8S1
6, 625
5 935
7 111
70 237
71 877
79 Oc;>0
191 365
246, 314
202 052
24 649
31 233
28 818
48, 575
55 656
47 437
18 457
17 808
21 129
88 844
124 156
95 549
59 942
50' 192
53 928
444
474
512
274, 080
50, 060
17,610
102, 949
21,716
954, 190
90, 132
67, 658
8,673
70 661
194, 462
27 615
48, 184
15 365
94 115
58 725
463
220, 501
13,165
21, 576
92 503
14,715
918, 705
89, 485
69, 777
7, 453
66 906
201 2U
26 163
49 474
17 909
98 055
63? 873
450
201, 398
1,716
16,312
91,218
17, 620
937, 689
100, 557
68, 897
11,210
67 311
182, 662
28 474
43 421
13 769
86 326
57 257
399
August
September
FOREIGN TRADE—Continued
VALUE§— Continued
Total exports by leading countries — Continued
North and South America:
152, 752
145, 679
146, 298
156, 252
133, 784
153, 547
Canada
thous. of dol
292, 828
252, 306
306, 297
121, 392
287, 336
137, 166
Latin American Republics, total
do
13,064
29, 379
31, 976
11,953
37, 850
36, 055
Argentina
_ _ _ _
do
52, 835
51, 138
56, 340
47, 760
20, 091
20, 047
Bra?il
do
11, 672
5, 734
7, 471
11, 796
9,126
3, 605
Chile
- - - do
14,212
15, 220
3,010
9,124
21,
266
21,
123
Columbia*
do
38, 143
36, 439
39, 439
36, 499
13, 141
14. 884
Cuba
_ do _ _
45, 744
51,011
50, 419
50, 331
57, 554
51, 572
M^exico
do
35, 861
8.075
27, 321
27, 676
11,093
Venezuela*
_
do_ __
31, 250
Other regions:
7,096
5,114
9,140
16, 748
6, 213
8,307
Australia
_ _ _ _ _ _
do
472
779
2, 323
2, 579
3,374
803
British Malaya
do
24, 670
35, 441
54, 590
35, 921
39, 720
19, 094
China
_ -.
do
2,
858
3,857
1,
678
2,117
3,
261
3,677
E°rpt
do
28, 435
14 145
16,763
15,428
25 943
26, 583
India and dependencies
do
12,416
2, 539
3,
598
14,
217
6,
363
3,
627
Japan
do
3,311
8,069
3,288
Netherlands Indies _ _ _ _
_
_ _ do _
2,040
11,807
5, 437
18,019
25,
401
58,
646
52,
996
8
353
30,
210
Philippine Islands
do
23, 282
13, 896
29, 312
27,719
7, 063
Union of South Africa
_
_ do.
34, 358
1,084
Exports of U. S. merchandise, total
mil. of dol__
627
967
1,094
1,130
529
Bv economic classes:
115, 495
135,882
139, 640
93, 41 5
Crude materials
thous. of dol
173, 183
133, 879
51, 340
68, 347
62, 515
29, 008
Crude foodstuffs
- ___do
39, 118
65, 8C7
Manufactured foodstuffs and beverages. _do
81,526
149,720
132, 503
136,606
42, 098
107, 725
r
115, 595
Semimanufactures
_
_ do
105,381
61, 707
114, 370
82, 881
50, 761
Finished manufactures
_ __
_ do_ _ 329, 385
623, 965
313, 245
552, 347
650, 630
673, 339
By principal commodities:
187,
244
291,925
321,
002
290, 351
Agricultural products, total_
do
301, 046
121,318
34, 316
Cotton, unmanufactured
do
70, 562
57, 437
47, 713
60, 972
16, 997
Fruits, vegetables and preparations
do
19,428
13,666
44, 184
32. 658
36, 026
11, 523
Grains and preparations
_ _
do
96, 344
88, 696
51, 543
71, 494
109, 822
29, 643
Packing house products.
_ _
_ _ d o _ __
19,263
19, 272
13,377
18, 535
18, 124
4,338
Nonagricultural products, total
do
* 439, 986 407, 209
675, 551
762, 236
803, 479
829, 680
Automobiles, parts and accessories
do
42,817
75, 974
70, 816
39, 804
72, 359
74, 748
Chemicals and related products
do
30, 255
57, 111
27, 391
44, 651
52, 424
53, 533
Copper and manufactures... _ _
_. _ d o _ _
6, 256
1,994
4,827
1,205
6,184
4,979
30, 834
Iron and c teel and their products _
do
44, 843
51,236
26 756
57, 157
52 116
154,438
83 724
148, 273
166, 333
89, 673
162, 949
Machinery
do
12, 044
1 6, 294
18. 600
12, 677
A pri cultural
do
19, 344
19 148
18, 581
40, 605
23, 60S
Electrical
__ _
._ _ do. _ _
38,119
35, 490
40. 979
19,867
14, 542
Metal working
do
7,977
14, 574
9,477
14 031
41 372
71 204
79 155
74 237
39 253
Oth°r industrial
do
80 194
Petroleum and products
_ do_ _
35,014
41,513
37, 137
47 898
27 576
36, 007
General imports total
mil. of dol
378
482
536
394
533
435
By geographic regions:
20 210
22 978
24 662
Africa
thous. of dol
28 087
29, 205
21 172
c
86, 5Q3
139, 236
150,311
78, 1 24
123, 404
102, 165
A ia and Oceania
do
58, 273
63, 908
88, 877
Europe
_
do
76, 258
76, 313
60, 044
81,305
88, 074
Northern North America
do
82. 979
90, 340
93, 097
75. 524
Southern North America..- .
_ _ .do. __
51 , 994
76, 938
52, 310
75, 061
61, 094
76, 932
114, 707
79, 753
84, 331
South America
do
104, 496
116, 600
100 516
By leading countries:
Europe:
5 245
8 610
7 298
7 372
6,167
France
do
3 531
149
125
252
41
402
70
Germany
. _
. do
4,
571
5, 392
9,
544
8, 004
3 276
5, 133
Italy
do
Union of Soviet Socialist Republics
do
2, 786
15, 944
7, 139
1, 809
1,047
9,006
United Kingdom
_ _ _ _ _ _ do.. _
14, 224
10, 269
14, 177
16,910
18, 476
19, C20
North and South America79 278
8S 167
84 110
77 COO
Canada
do
90 IS7
74 306
Latin American Republics, total
do
125, 299
132, 739
185, 610
183, 724
159, 776
169. 916
26 658
Argentina
do
10, 908
16,382
13,907
23 016
16 900
Brazil _ _ _ _ _ _ _
_. _ d o ...
29, 870
30, 049
37, 277
37, 792
37, 504
51. 482
Chile
_
. do
4,754
8,770
4', 747
7, 263
6, 719
4 931
18 351
18 176
Colombia*
do
14 224
20 142
16 550
11 644
Cuba
..
do
19, 749
29,
276
27
553
36,
168
23, 936
34 077
Mexico
_ _
___ _ _ _ _ _ _ do __
14, 922
1 9, 984
23, 441
25, 024
18, 140
21, 299
Venezuela* _
do
11, 507
9,973
10,523
14, 201
13, 644
13 711
Other regions:
Australia
_
_
do
17, 139
11,822
12, 710
7 724
14 148
8 516
British Malaya
do
14 479
19 795
19 093
15 347
47 246
24 490
8,041
China
_
~_
_ _ -do
11, 593
7, 123
5, 183
15, 572
13 206
1, 345
Egvpt
do
1,779
7,058
3, 312
1, 068
1, 354
India and dependencies
do
20 593
27 618
24 944
9 290
27 581
19 487
2,780
Japan
.
do
2, 276
25, 917
14, 3C7
8, 445
3' 762
Netherlands Indies
do
3,292
8, 044
5, 660
4, 545
6, 609
5, 295
Philippine Islands
do
3,338
3, 635
5, 891
11,195
1G, 965
9,779
Union of South Africa ... .
do__
14, 443
9, 064
13, 904
10,363
8 629
4 715
Imports for consuniDtion total
mil of dol
378
498
397
47C
538
423
By economic classes:
Crude materials
thous. of dol r 133 402
137 134
162 340
158 636
207 959
128 838
77 338
Crude foodstuffs
do
60, 747
91 259
59, 096
112 207
86 039
Manufactured foodstuffs and beverages.. do. ._
38, 599
39, 269
38, 042
48, 078
44, 986
47, 593
Semimanufactures
do
76, 262
87 G17
90 925
87, 597
101 U5
95 669
Finished manufactures. _ . _ ._ ... do
88, 021
68, 796
73, 913
95, 395
81 237
74 268
By principal commodities:
Agricultural, total. .. ___
do
176, 261
225. 666
252, 381
178, 901
306, 385
227 810
50 433
Coffee
do
36 816
32 080
43 909
62 896
56 849
Hides and skins
do
7,072
7,724
10, 256
8, 655
11, 595
6, 388
Rubber, crude, including guayule
do
22. 537
25, 562
25, 578
30, 934
51, 205
32, 388
Silk, unmanufactured
do
3, 211
24 247
13 922
745
2 884
5 943
Sugar
do
12, 052
15,413
10, 384
17 035
18 122
26 912
Wool and mohair, unmanufactured
do
23, 459
20, 160
19, 441
17,111
22, 665
17,697
r
Revised.
§See note marked "§" on p. S-20.
*New series. Data beginning March 1945 are in the May 1946 Survey; earlier data will be published later.
19 159
98 217
49,677
91,641
93. 454
92 120
30 079
98 272
68' 090
90, 932
112 634
111 805
19 7°5
120 830
58 407
87,817
86 026
100 701
24 189
100 696
69, 341
96, 416
93, 836
78 236
14 799
95, 751
71 745
90, 547
91,853
85 236
24 342
55 542
64 120
88,616
78 827
87 550
4 502
218
3 314
1,245
11, 139
5 073
531
3 8?5
6,288
18 099
3 856
766
2 673
4,466
16 824
3 287
196
2 953
10, 475
18, 938
3 411
365
2 074
9, 956
18, 637
2 807
688
2 188
2, 508
17 128
89 7r>5
175. 832
8' 767
29 367
8 186
20 259
42' 801
23 429
17 072
89 442
215,236
13 294
42 549
11 805
18 515
61 238
22 205
l p 733
85 072
176, 330
18 839
26 763
14 1°0
14 477
44 586
17 466
13 134
16 813
15' 699
10' 271
610
22 059
775
2, 519
17, 057
5 672
' 434
15 918
18 211
5 955
936
19 218
813
2,780
15, 875
5 297
484
15 206
43 212
11 917
954
13 234
804
2, 5S4
17,896
8 267
455
92
164,
15
16
11
12
50
21
12
4^2
893
313
952
160
785
794
582
829
12 058
23 662
13' 727
3 931
22 959
1 119
MOO
14, 178
5 145
469
86
168,
10
31
10
q'
53
18
13
762
630
691
154
888
917
706
309
5^8
84 866
158, 683
5 817
28 2°0
11 602
13 759
45 133
16 749
13 850
7 079
23 951
7 556
1 032
29 157
4' 557
'739
8,503
5 603
445
5 341
14 212
3 033
2 637
13 759
l' 450
3, 106
8,827
7 114
403
4
123 5^7
90 237
51,274
93 739
75' 647
133 699
109 750
67, 691
95 472
77 003
160 066
61 185
53, 962
103 494
76 740
159 577
55 603
GO! 257
112 063
81 839
133
55
62,
103
89
02
1°9
883
533
899
112 886
60 586
55, 678
102 692
71 573
230 265
54 206
5, 670
19, 992
1 109
34* 861
22i 586
268 602
66 599
5,977
23, 937
43
50 780
2l! 338
233 121
32 C20
7, 261
47, 837
57
34 311
20, 893
222 635
25 064
6, 934
30, 281
6
42 595
17' 762
192 013
31 727
8, 993
23, 263
3 267
49 gi]
lo!529
168 439
^4 856
4, 428
17 113
701
37 386
12,317
1,104
4S1
AQO
SUKVEY OF CUEKENT BUSINESS
S-22
Unless otherwise stated, statistics through
1941 and descriptive notes may be found
in the 1942 Supplement to the Survey
November 1947
1946
September
October
1947
November
December
January
February
March
April
May
June
July
August
September
FOREIGN TRADE—Continued
VALUE§— Continued
Imports for consumption— Continued.
By principal commodities:
Nonagricultural total
thous. of dol
Furs and manufactures
do
Nonferrous ores and metals, total
_do
Copper, including ore and manufactures:
thous. of dol__
Tin, including ore
do
Paper base stocks
do.
Newsprint
do
Petroleum and products
do_ __
199, 464
8,363
17, 364
220, 469
15,339
25, 445
240, 893
14, 179
26, 535
245, 162
24, 662
32, 143
228, 959
14, 796
29, 876
197, 292
4,434
27, 568
204, 214
6,648
25, 479
215, 047
7,085
30, 049
222 327
9, 187
35, 789
246 703
14, 450
44, 312
252 832
11,947
40, 988
234 975
5 575
45, 133
6,513
8,969
3,800
15, 245
22, 830
13, 290
9,580
4,217
13,021
26, 318
12, 981
12, 511
2,778
14, 022
25, 916
14, 753
7,443
3,762
18, 208
23, 763
19, 379
8,625
1,466
18, 087
21, 004
18, 429
9,026
8,074
2,410
17, 187
27, 048
20, 309
16, 571
15, 906
25, 987
21, 620
20, 521
28, 667
21, 879
21,818
1,272
29, 958
30, 423
18, 608
15, 626
7,435
30, 773
30, 988
20, 784
17, 369
9,109
36, 557
27 747
19, 284
26, 866
15, 722
28, 572
13, 841
4,295
4,077
1, 065
538, 377
1,075
533, 706
28 883
16 972
4, 749
1 253
600, 262
898
14, 026
20, 801
15, 289
9
853
TRANSPORTATION AND COMMUNICATIONS
TR AN SPORTATION
Air Lines
Operations on scheduled air lines:!
Miles flown revenue
thous. of miles.
Express and freight carried
thous. of lb_
Express and freight ton-miles flown thousandsPassengers carried (revenue)
do
Passenger-miles flown (revenue)
do
28, 243
15, 030
3,644
1,241
608, 196
28, 301
18,311
4, 623
1,149
553, 405
25, 046
16, 435
4, 390
980
465, 015
27, 173
24, 021
6,321
999
503, 478
22, 502
12, 331
3, 602
725
376, 339
22, 512
12, 615
3,827
740
368, 017
25, 464
17, 449
5, 116
973
488, 019
25, 318
17, 235
4,788
1,077
519, 516
26. 994
15, 610
4,415
1, 133
556, 589
Express Operations
25, 838
25, 355
25, 645
25, 112
28, 327
25, 082
31, 223
26, 410
28, 084
24, 429
24, 398
Operating revenue
_ -thous. of dol__
24, 406
d
79
66
55
61
64
69
87
50
73
52
47
Operating income
do _ _
47
Local Transit Lines
8. 0275
7. 9915
7. 9832
8. 0165
8. 0220
7. 9832
8. 0580
7. 9805
8. 0414
8. 0580
8. 0829
Fares, average, cash rate
__ _
__cents
8 0913
8 1023
1,627
1,628
1,481
1,607
1,591
1, 464
1,591
1,479
1,646
1,606
' 1, 536
Passengers carried f
millions
1 441
1 481
119, 800
121, 400
116, 500
108, 700
116, 200
123, 600
112, 900
118, 200
120, 100
112, 100
Operating revenues!
thous. of dol
111, 400
111 300
Class I Steam Railways
Freight carloadings (A. A. R.):®
3,022
3,179
4,170
4,220
3,168
3,680
3,233
4,376
3,543
3,517
3,276
Total cars
thousands
4 560
3 600
712
599
759
917
755
736
547
922
743
495
708
Coal
_ _ _ _ _ _ _
_ . _ _ do__
886
713
64
58
73
48
56
53
72
57
54
55
49
Coke
do
70
54
222
167
195
250
166
192
183
233
197
188
178
Forest products
_ _ _
_
do
248
191
207
202
265
248
216
191
213
200
275
200
191
Grains and grain products
do
317
210
63
68
49
67
112
117
54
66
49
63
46
62
Livestock
_ do
74
620
473
642
445
593
519
461
505
464
429
Merchandise, 1. c. 1
do
••476
577
467
69
49
48
49
369
249
240
164
324
269
343
Ore
- _ do _
407
299
1,409
1,910
1,416
1,974
1,430
1,909
1, 597
1,536
1,555
1,461
Miscellaneous
do
»• 1, 523
1 992
1 592
Freight carloadings (Federal Reserve indexes):
138
137
131
149
133
134
144
142
141
149
140
Combined index, unadjusted
1935-39=100__
148
153
163
147
132
117
149
119
155
155
115
141
160
Coal
do
146
153
182
163
184
182
169
183
180
166
170
165
181
Coke
do
177
178139
159
147
154
154
148
159
148
153
151
166
Forest products
_
__do
160
161
152
157
146
142
144
144
133
121
202
143
140
Grains and grain products
do
175
153
118
96
118
89
94
197
171
98
87
87
120
Livestock
do
87
139
74
79
78
82
84
74
80
76
73
71
79
Merchandise, 1. c. 1
do
73
77
44
50
45
169
267
311
43
157
286
216
245
Ore
- _ _ _
_ - do
284
272
139
139
144
154
145
146
146
151
145
136
150
Miscellaneous
do
150
157
150
142
146
142
140
137
137
139
134
137
138
143
Combined index, adjusted!
- do__ _
142
132
163
147
155
117
149
119
141
155
160
115
146
Coalf
do
153
175
180
155
166
171
173
185
173
183
183
170
184
Cokef
_
do
180
163
159
156
148
145
151
152
166
148
146
154
152
Forest products
do
149
159
138
140
162
157
151
147
168
147
142
162
125
Grains and grain products!
do
137
123
121
122
104
107
136
110
128
107
111
91
92
105
Livestock!
do
77
78
74
83
71
79
76
81
79
76
75
73
Merchandise, 1. c. 1
do
73
145
176
172
171
184
184
184
157
194
157
164
190
181
Oref
do
152
142
151
145
148
145
147
139
148
139
143
149
Miscellaneous!
do
145
Freight-car surplus and shortage, daily average:
2,714
3,584
5,243
11, 333
3,300
12, 125
16, 416
30, 651
1,843
11, 881
2,391
2,183
Car surplus!
_ _ _ number-1,322
50
134
224
2,029
5,904
120
91
92
86
613
123
175
Box cars
do
238
116
507
27
1,390
14, 383
25, 874
85
9, 456
32
10,013
49
o
127
Coal cars
do
35, 943
19, 920
14, 779
14, 969
15, 697
30, 899
24, 418
20, 150
32, 861
21, 255
30, 614
31,766
34, 443
Car shortage*
_
_ do_
24, 178
4,292
14, 197
5,127
19, 733
9,592
20, 925
15, 165
23, 444
18, 720
12, 610
16, 336
Box cars
do
17, 165
10, 713
9,357
10, 247
3,397
5,331
5,200
4,583
8,958
6,231
9,337
14, 566
7,853
15, 165
Coal cars
_ _
__ _
do _ _
Financial operations (unadjusted) :
717, 826
724, 432
685, 541
689, 456
705, 361
635, 940
696, 909
637, 241
658, 160
709, 938
745, 258
Operating revenues, total
thous. of dol__ rr 660, 412
726, 550
592, 186
591, 687
551, 050
564, 807
522, 806
557, 881
518,615
556, 889
493, 531
566, 968
596, 592
515,631
Freight
do
593 089
r
71,411
82, 450
77, 349
93, 642
70, 414
84, 787
92, 716
70, 766
89, 345
85, 510
95, 362
94, 001
Passenger
do
80, 369
T
549,
368
538,
968
509,
380
557,
318
550,
057
549,
828
555, 362
543, 301
536, 081
558, 424
529, 792
565, 606
Operating expenses
do
588 591
Tax accruals, joint facility and equipment rents
95, 676
89, 041
88, 855
87, 745
86, 651
* 15, 581
83, 415
91, 385
58, 005
66, 395
98, 827
thous. of dol _ _ r'63, 111
89, 979
72, 782
57, 718
75, 729
102, 995
64, 074
58, 410
60, 201
85, 119
43, 146
60, 958
67, 510
80, 825
Net railway operating income
do
47 979
28, 822
43, 147
14, 382
32, 580
46, 360
38, 402
88, 775
37, 025
38, 066
57, 280
51, 343
39, 070
Net income!
do
Financial operations, adjusted:!
698.3
723.0
698.0
658.1
663.0
696.4
684.9
731.0
663.1
682.7
672.8
719.4
Operating revenues total
mil of dol
559. 0
594.6
565.3
593.4
520.5
564.8
555.8
524.3
543.5
521.8
5^1 . 2
528.5
Freight
_ _ _
do __
72.2
86.0
78.2
91.0
72.9
85.9
78.4
81.9
91.3
89.4
95.7
83.8
Passenger
do
633.2
634. 5
623.8
630. 9
641.8
649.2
637.4
523.0
601.2
606.0
604.6
655.4
Railway expenses
_
do
48.2
74.5
81.1
64.8
65.4
47.6
135.1
81.8
57.1
61.8
68.2
64.0
Net railway operating income
do
48.1
32.1
41.8
15.2
32.7
48.9
98.0
24.8
29.4
36.5
33.4
'17.6
Net income
do
Operating results:
59, 485
57, 019
53, 935
60, 009
52, 712
54, 664
51, 833
56, 646
60, 848
54, 873
56, 399
61, 650
Freight carried 1 mile
mil. of tons.
1.034
1.055
1.115
1.055
.997
1.070
1.043
.988
1.007
1. 094
.975
1.029
Revenue per ton-mile.
_cents__
3,729
4,120
3,529
4,543
3,486
3,489
4,096
4,466
4,413
4,267
4,481
Passengers carried 1 mile
millions. . 4,927
d
«• Revised.
Deficit. ® Data for November 1946, March, May, and August 1947 are for 5 weeks; other months, 4 weeks.
§ Data continue series published in the 1942 Supplement; data for December 1941-February 1945 will be published later. % Revised d_ata for August 1946, $53,502,000.
* New series. For comparable data beginning 1943 for total car shortage and surplus and an explanation of a change in the latter series, see p. S-21 of December 1944 Survey.
! Revised series. See note in the July 1947 Survey for explanation of revisions in the data for air lines; revised data prior to May 1946 will be published later. Data for local transit lines
revenues beginning in the April 1944 Survey and passengers carried beginning in the May 1945 issue are estimated totals for all transit lines; revised data beginning 1936 will be published later.
See note marked "*" regarding car surpluses. Revisions for 1939-July 1942 for the indicated indexes of car loadings and revisions for January 1937-February 1943 for the adjusted series for
financial operations are available on request.
SUEVEY OF CURRENT BUSINESS
November 1947
Unless otherwise stated, statistics through
1941 and descriptive notes may be found
in the 1942 Supplement to the Survey
S-23
1947
1946
September
October
November
December
January
February
March
April
May
June
July
August
September
TRANSPORTATION AND COMMUNICATIONS—Continued
TR AN SPORTATION— Continued
Waterway Traffic
Clearances, vessels in foreign trade: §
Total U S ports
thous net tons
Foreign
do
United States
_ __ do__ ..
Travel
Hotels:
Average sale per occupied room
dollars. _
Rooms occupied
- - _ .percent of total
Restaurant sales index, avg. same mo. 1929= 100. .
Foreign travel:
U S citizens, arrivals
_ _
_ number
U S citizens departures
do
Emigrants
- - - do
Immigrants
do
Passports issued
_ _ _
_
do_ _
National parks, visitors
__ thousands Pullman Co.:
Revenue passenger-miles
millions
Passenger revenues
thous .of dol
6,220
2,775
3,445
4,986
2,959
2,027
6,843
2,729
4,114
5,768
2,009
3,759
6,222
2,378
3,844
6,296
2,455
3,841
6,870
2,753
4,116
7,615
3,291
4,324
9,646
4,367
5,278
8,725
3,980
4,746
8,953
3,945
5,008
9,991
4, 697
5, 294
4.33
236
4.36
95
226
4.44
90
241
4.16
84
208
4.25
90
229
4.37
92
213
4.37
92
214
4.86
92
240
4.46
92
244
4.75
93
248
4.70
87
225
5.16
93
246
5.07
92
238
34, 409
27, 953
1, 764
10, 869
14, 536
696
29, 639
24, 755
872
9,563
14, 470
272
29, 597
31, 178
3,090
9,739
13, 500
118
30, 923
37, 782
2,848
11,218
14, 18(5
87
38. 660
37, 602
854
14, 080
17, 989
97
18, 468
122
20, 294
137
20, 166
206
20, 962
442
21, 831
902
19,611
1,467
15, 277
1,502
12, 182
652
1, 500
9,903
1,409
9,458
1,165
8,429
1,149
9,059
1,378
10, 214
1,161
8,677
1,180
8,857
1,064
8,094
1,061
8,018
1,215
9,193
1,139
8,558
1, 166
8,712
191, 642
105, 054
71,612
147, 636
21, 171
28, 156
200, 127
108, 872
75, 978
154, 864
22, 391
28, 463
196, 489
107, 775
73, 343
151, 471
22, 504
28, 754
203, 627
110,477
77, 363
159. 272
23, 878
29, 067
203, 553
111,649
76, 009
157, 464
20, 455
29, 249
197, 097
109, 982
71,051
149, 048
22, 068
29, 564
207, 168
112,806
78, 111
157, 198
23, 625
29, 874
153, 955
97, 324
40, 735
132, 475
5, 792
30, 359
184, 948
106, 818
61, 629
154, 400
11, 497
30, 057
205, 193
113,371
75, 477
165, 551
17, 914
30, 292
209, 134
114 567
77, 993
175 553
13, 239
30, 553
16, 568
15, 372
17, 590
16, 275
16, 653
15, 380
17, 948
16, 553
17, 688
16, 330
16, 233
14, 984
17, 530
16, 134
23, 264
21, 892
20, 740
19, 399
18, 981
17, 662
18, 449
17, 019
18, 122
16, 786
610
1, 196
15, 453
^865
* 1, 193
1,517
620
1,315
15, 673
* 289
* 514
1,641
595
1, 273
14, 466
6
717
1, 395
15, 549
698
320
1,990
599
1, 358
14, 863
590
138
1,714
534
1,249
13, 503
520
b8
1,642
571
1,396
14, 298
1, 093
873
1,775
534
1,372
16, 644
4,399
2, 676
1,609
611
1,341
16, 387
2, 140
1,062
1,637
574
1,320
15, 347
1, 541
1,335
1, 617
599
1,430
16, 010
291
41
1,609
639
1, 336
15, 366
682
332
1,742
88, 807
' 5, 064
50, 827
84, 617
3,107
47, 177
107 712
118, 497
' 34, 639
102 410
116 451
33, 456
' 60, 394
94
COMMUNICATIONS
Telephone carriers:!
Operating revenues
thous. of dol
Station revenues
- - -do _
Tolls message
do
Oppratin cr expenses
-do __
Net operating income _ _ _
_._do
Phones in service end of month
thousands
Telegraph 0and cable carriers :J
Operatin ' revenues, total
thous. of dol
Telegraph carriers, total
_
do
Western Union Telegraph Co., revenues from
cable operations
thou? of dol
Cable carriers
do
Operating expenses
- - do
Net operating revenues
do
Net income trans, to earned surplus _ _ do _
Radiotelegraph carriers, operating revenues. -do
d31
1,607
CHEMICALS AND ALLIED PRODUCTS
CHEMICALS
Inorganic chemicals, production:*
Ammonia, synthetic anhydrous (100% NH3)cf
short tons__
Calcium arsenate [100% Ca3(As002] -thous. of l b _ _
Calcium carbide (100% CaC2>
short tons..
Carbon dioxide, liquid, gas and solid (100%
CO2) cf
thous. of Ib
Chlorine
short tons
Hydrochloric acid (100% HC1) _ _ __ _ _ d o _ . _
Lead arsenate
thous. of Ib
Nitric acid (100% HNO3)cf
short tons
Oxygen
mil. cu. ft
Phosphoric acid (50% HsPOO
short tons
Soda ash, ammonia-soda process (98-100% Na2
COs)
short tons
Sodium bichromate
do
Sodium hydroxide (100% NaOH)
do
Sodium silicate, soluble silicate glass (anhydrous) cf
short tons
Sodium sulfate, Glauber's salt and crude salt
cake
short tons
Sulphuric acid (100% H 2 SO 4 ):
Price, wholesale, 66°, tanks, at works§
dol. per short ton__
Production
__ __ short tons__
Organic chemicals:
Acetic acid (syn. and natural), production *
thous. of lb_Acetic anhydride, production*
do
Acetvl salicylic acid (aspirin), production* -do
Alcohol, denatured:§
Consumption (withdrawals). thous. of winegal__
Production
do _ _
Stocks
do
Alcohol, ethyl:§
Production
thous. of proof sraL
Stocks, total
do
In industrial alcohol bonded warehouses. _ do
In denaturing plants. . _ _
__
do _
Withdrawn for denaturing
do
Withdrawn tax-paid
_
-do _
Creosote oil, production*
thous. of gaL.
Cresylic acid, refined, production* thous. of"lb_.
Ethyl acetate (85%) production*
do
77, 492
2,608
53, 940
80, 829
1,916
57, 074
80, 380
1,330
55,312
82, 123
754
51, 830
85, 121
1,765
50, 675
85, 663
1,543
45, 411
95, 859
1,221
52, 466
93, 007
2,320
51, 830
97, 107
5,492
56, 286
91,681
8,805
48, 136
93, 345
10, 458
53, 388
78, 786
104, 206
29, 789
1,624
54, 136
997
73, 795
74, 890
108, 174
32, 394
2,259
61, 686
1,062
80, 673
62, 048
97, 135
30, 150
2,865
63, 277
1,006
82, 020
56 787
102, 628
30, 714
3,726
62, 460
1 028
79, 788
60 491
110, 088
35, 144
4,923
64, 138
1 101
78, 892
49, 858
101, 717
33, 966
3,691
62, 193
1,010
74, 926
62, 449
117, 039
36, 993
4,481
64, 647
1,218
89, 050
81 330
109, 050
34, 637
5,470
64, 288
1, 146
82, 452
96, 487
118, 284
36, 899
3,717
64, 826
1, 188
82, 372
96 700
117, 486
33, 071
1,289
62, 064
1 089
89, 492
110 228
114, 676
33, 577
447
60, 227
1,066
86, 920
358, 628
6,601
164, 652
382, 026
7,066
168, 708
368, 302
7,176
153, 275
385, 369
6, 665
165, 186
380, 589
6,979
173, 449
350, 634
5,954
156, 786
383, 753
7,129
179, 400
367, 847
7,089
166, 946
396, 282
7,474
179, 142
374, 083
7,426
175, 896
377, 976
7,331
175, 523
34, 714
41, 188
34, 442
32, 479
39, 991
35, 884
42, 120
50, 267
39, 726
32, 814
57, 346
63, 683
52, 494
64, 878
66, 275
63, 208
70, 059
69, 947
74, 505
69, 579
16.50
755, 378
16.50
822, 833
16.50
838, 040
16.50
878, 078
' 16. 50
888, 912
16.50
835, 163
16.50
931, 237
16.50
865, 447
16.50
888, 304
16.50
850, 934
24, 464
41, 209
574
27. 662
46. 376
710
27, 718
45, 033
1, 010
31, 725
48, 703
965
35, 152
49, 157
925
30, 670
45, 662
1,024
33, 620
54, 206
832
30, 376
53, 086
1,043
33, 876
54, 249
1,053
31, 729
41 433
1,155
r 18, 942
' 21, 482 r 19, 805
17, 416
' 16, 003 r 19, 118
' 19, 667 ••17,016
5,131
' 2, 756 r 2, 606
2, 200
«• 17, 867
' 18, 914 r 18, 097
' 72, 370 r 58, 157
* 42, 392
28, 779
' 29, 481 r 26, 792
' 43, 591 28, 676
15, 600
29, 274
34, 938
36, 086
r
4, 367
r 5, 296
5,202
12, 744
13, 570
13, 027
2,284
2,456
2,100
7,334
8,745
10, 170
12, 361
'15,015
'T 15, 040 «• 11, 573
1,423
2, 216
' 20, 471 ' 22. 399
' 32, 861 ' 30 215
' 25, 807 ' 22, 927
7,054
7,288
r
31, 232
27 775
r
3, 975
4, 350
13, 481
14, 038
2, 094
1,817
9,602
10, 185
r 18, 416
T
30, 676
r 21, 294
9,381
21, 409
3,260
14, 580
2,142
7,084
' 12, 673 r 13, 464
r T12, 777 «• 13, 667
1,712
1, 521
' 14, 095 ' 13, 687
14, 150
r r13, 926
1, 531
1,981
88 083
59 900
1 092
88 035
363, 890
7,219
177,310
359 004
7 350
170, 122
36, 584
33, 963
34, 667
64, 996
65, 942
65 795
16.50
846, 366
16.50
859, 262
16.50
849, 700
35,416
52, 910
998
35, 004
52 518
15, 061
14,605
1,529
16, 426
16, 469
1,560
18, 718
18 610
1 447
29, 226
28 637
26, 928
1, 709
30 303
2 696
11,988
2, 357
5, 899
29 906
24 409
22, 894
1 514
34 101
3 201
r 07 982
' 23, 793 26, 833
' 19, 455 23, 556
27 764
28, 214 ' 26, 150 r 29, 258 r 27, 016
21, 992 ' 24, 089 ' 27, 452 ' 25, 323 25, 699
2, 065
' 6, 222 T ' 2, 061 '•1,807 r 1,694
27, 359
23, 622
25 227 ' 25, 743 26, 065
2, 768
2,170
2,377
3, 175
2,555
14, 696
14, 271
12, 779
13, 454
'11,581
2. 234
2, 329
1,909
2,196
2, 436
5,984
6,088
7,902
6,826
' 5, 822
T
r
r
r I 105
M26
••Revised. ^Deficit. ^[Data relate to continental United States.
^Compiled on a new basis beginning 1943; see April 1944 Survey for 1943 data and. reference to revised 1942 data. Total operating revenues of telegraph carriers incl udes and operating revenues
of cable carriers excludes cable operations of Western Union; the latter data were revised in May 1947 Survey (see note in that issue).
cf Data for carbon dioxide and spuium silicate were revised in the March 1945 and the September Survey, respectively (see notes in those issues). See note in February 1947 Survey with regard to additional plants included in the data for nitric acid and ammonia.
§The indicated series, except series for alcohol stocks in denaturing plants (available only beginning 1942), continue data in the 1942 Supplement; unpublished data beginning 1941 or 1942
through February 1945 for ethyl alcohol and vessel clearances and for June 1944-July 1946 for prices of sulfuric acid will be shown later.
*New series. See note marked "*" on p. S-23 of the September 1947 Survey for reference to data prior to 1943 for a number of the chemical series and information regarding revisions that
have not been published.
SURVEY OF CURRENT BUSINESS
S-24
November 194f
1946
Unless otherwise stated, statistics through
1941 and descriptive notes may be found
in the 1942 Supplement to the Survey
September
1947
November
October
December
January
February
March
April
May
June
July
August
tember
CHEMICALS AND ALLIED PRODUCTS— Continued
CHEMICALS— Continued
Organic chemicals— Continued.
Glycerin, refined (100% basis) :*
High gravity and yellow distilled:
Consumption
thous. of Ib
Production
- -do
Stocks
do
Chemically pure:
Consumption
do
Production
- do _
Stocks
do
Methanol, production:^
Crude (80%)
thous. of gal_.
Svnthetic (100%)
do
Phthalic anhydride, production* _ thous. of lb.
••6,026
' 4, 636
'5,411
r
'5,319
' 12, 813 ' 12, 376
r 5, 984
r 12, 663
- 5, 946
' 4, 920
' 6, 242 ' 6, 361
' 22, 350 ' 21, 497
r 5, 458
' 5, 073
' 18, 333
4, 504
218
6. 592
264
6, 593
9,276
6,674
11,246
559
158
401
80, 862
7, 388
63, 394
809
69, 266
63, 877
584
63
522
95, 796
2,871
86, 791
253
80, 941
67, 573
26, 929
529
82
448
83, 544
3, 430
70, 254
2, 125
64, 434
55, 712
23, 141
9,334
250
' 5, 965
7,431
' 15,310
r
7,022
7,386
14, 102
6,800
8, 234
15,340
7,407
8,746
17, 544
8,127
7,651
18, 135
19, 151
19, 843
6,965
6 509
5 483
18 848
6 761
7, 250
18 869
8,812
19 146
19 493
7,428
6,606
6,617
7,032
' 5,811
6, 963
6,138
17, 941
6,555
8,450
17, 979
18, 106
18, 875
6,139
8, 531
19, 137
5, 957
9,181
20, 789
5,871
7, 980
20, 723
5 650
6 200
20 171
6 358
7 998
20 3^6
6,206
9,605
284
286
6, 830
10, 526
221
6 551
11 764
220
6 779
12 871
'253
6 708
12, 396
253
954
166
788
132, 895
30, 226
89, 765
987
145, 266
117, 102
71, 738
4, 346
13, 301
644
138
505
141, 788
36, 037
94, 580
636
138, 060
340
80
260
112 792
10 926
85, 138
2 718
117 760
107 484
80 786
4 482
434
156
278
125 303
9 284
103, 928
874
93, 649
85, 337
41, 737
520
158
362
o
417
207
209
115 867
22' 575
81 082
1 661
82 474
75 912
41 693
38
2 232
2. 075
84, 207
2 075
73, 802
2 075
83 121
2 075
73' 708
2.195
6,042
7,662
8,573
10,994
11,687
276
7,145
230
6,681
10, 847
244
6,991
11, 690
928
195
734
104, 336
5, 577
83, 752
1,225
182
1,042
98, 945
1,120
160
960
92, 213
20, 851
58, 802
1,449
116, 166
103, 704
65, 886
18
1, 459
239
1,220
89, 474
10, 854
64, 147
1,914
50, 020
40, 728
10, 029
404
0
1.925
2.045
221
6, 505
6 754
7,957
FERTILIZERS
Consumption, total* _
thous. of short tons__
Midwest States*
- - -do
Southern States0
do
Exports total§
long tons
Nitrogenous§
do
Phosphate materials!
do Prepared fertilizers §
do
Imports total §
do
Nitrogenous total§
do_ ...
Nitrate of soda§
do
Phosphates^
-- do _
Potash^
do
Price, wholesale, nitrate of soda, crude, f. o. b. cars,
port warehouses©
dol per 100 Ib
Potash deliveries
short tons
Superphosphate (bulk):f
Production
do
Stocks end of month
_ - . -do -
11,716
4,720
39, 928
25, 096
1,327
21,616
66, 401
2,448
51, 943
40, 851
9, 358
3, 759
0
108,988
80, 555
4, 696
11, 250
1, 463
0
7,809
1.925
69, 690
1. 925
70, 263
1. 925
72, 770
81,044
98, 555
2. 075
77, 839
721,475
754, 215
667,912
750, 940
736, 357
783, 275
796, 677
830, 752
815,611
824, 578
750, 550
888, 875
709, 781
863, 787
608, 409
892, 045
681, 235
802, 128
855, 352
801 835
903 380
797, 273
866, 919
7.40
489, 676
390, 781
7.80
7.83
8.07
462, 007
398, 102
8.68
9.61
9.65
351 , 875
222, 701
9.24
7.34
7.58
527 335
943 086
6.83
6.76
7.10
1.00
1.05
1.30
1.24
143, 055
101, 295
1.21
1.15
1.00
.85
.59
.61
176 089
147 693
.59
.59
.62
53, 275
55, 787
0
3,446
0
6,835
3,579
897
2.075
95, 229
645,412
4,330
0
2.275
NAVAL STORES
Rosin (gum and wood):
Price, gum, wholesale "H" (Sav.), bulk
dol. per lOOlb.Production*
drums (520 Ib.)
Stocks*
do
Turpentine (gum and wood):
Price, gum, wholesale (Savannah) f.^dol. per gal_.
Production*
bbl (50 gal.)
Stocks*
do
167,933
90, 167
113,520
98, 205
MISCELLANEOUS
Explosives (industrial), shipments
Gelatin:§
Production total*
Edible^
Stocks total*
Edible§
Sulfur:*
Production
Stocks
Glue, animal:*
Production
Stocks
Bone black:*
Production
Stocks
- -
thous. of lb_
do
- -.-do
___do_.-_do-^ .
long tons
do
- thous. of Ib
..do
short tons
do_ _-
50, 307
51, 187
45, 300
45, 147
47, 092
45,017
46, 444
46, 038
51, 296
51, 048
47, 134
2, 947
1,900
3, 202
1, 652
3, 864
1,743
3,311
2, 055
3, 999
1,824
3, 656
2, 259
3, 858
3, 793
3, 954
2, 237
6, 078
3, 700
2, 405
6, 369
4,117
3,847
3,159
2, 313
4,726
2, 315
4,857
2, 299
2,508
5,548
2,878
2,407
5, 789
2,866
2,988
2,922
3,028
6,488
3,059
2,901
6, 374
2,787
6,338
2,453
r
3, 393
' 2, 762
6.042
2,430
3, 116
2,420
5,961
2,356
333, 041
355, 179
335, 300
351 , 028
321,415 298, 565 350, 307
406, 964
333, 531
391, 396
377,218 359, 313
382, 674
3, 881, 397 3, 983, 973 3, 874. 808 3, 769, 368 3, 704, 059 3, 667, 729 3, 636, 884 3, 548, 703. 3, 495, Oil 3, 456, 082 3 438 367 3, 444, 607 3, 449, 732
8,774
10, 824
8, 196
9,978
1,417
1,745
1, 169
2, 043
12,214
11,780
10,616
13, 939
10, 272
12, 886
10, 633
955
1,625
956
1,349
1,023
1,505
928
1,463
9,398
12, 538
9,059
14, 226
9,155
13, 770
8, 643
12, 843
12, 158
8,757
'11,424
7,749
12, 003
8,950
1,069
1, 456
596
959
847
979
1 040
1,021
1 048
1,008
1, 065
1,030
1,085
1, 079
7,882
OIL SEEDS, OILS, FATS AND
BYPRODUCTS
Animal, including fish oil:
Animal fatsj
r
144, 102
140,495
119,584
r 86. 588 r r 72, 894
97, 631 ' 116,297
129,026
127, 228
134,765
105,542
Consumption, factory _ - _ __thous. of lb_
105, 301
99, 329
221, 840
r 61, 155
139,767 'r 267, 279 '• 243, 908
303, 997
262, 265
189, 544
230, 470
208, 609
262, 265
255, 713
238 814
Production
do
286, 602
181,313 * 231, 839 307, 623 307, 692
>• 145, 068 ' 139,542
339, 877
320, 801
389, 074
400, 170
428, 604
444, 602
Stocks, end of month
do
Greases :t
' 39, 182 f 44, 996
' 39, 590 rr 41, 950
45, 864
49, 913
48, 688
45, 730
42, 572
43, 658
43, 939
41, 226
37, 746
Consumption, factory
do
' 27, 601
37, 054
' 46, 282 ' 45, 607
44, 586
52, 591
47, 484
40, 154
46, 735
44, 434
48, 613
48, 260
4.6. 61 1
Production
do
r
* 78, 393 ' 63, 328 r 63, 018
72, 871
64, 305
64, 820
67, 138
98, 924
69, 983
106, 382
84, 829
101, 964
98, 827
Stocks, end of month
do.
Fish oils:t
15,465
17, 028
18,976
18,772
18, 509
20, 290
18, 374
20. 365
20, 148
11,475
12, 150
14, 135
16,478
Consumption, factory
do _
10,812
21, 540
18, 726
1, 646
1, 260
22, 706
7, 867
777
1, 577
21, 109
1, 301
21, 739
10.927
Production
do
114,682 r 117,410
r 108,093
79, 211
121,676
102, 400
85, 999
1.07, 320
66, 335
86, 445
65,152
57, 728
59, 041
S tocks, end of month
do
Vegetable oils, total:
368
416
255
412
431
395
418
417
329
294
333
294
297
Consumption, crude, factory J
-mil. of lb__
8, 361
10,015
5, 634
7,011
7, 660
14,561
27, 090
7,291
16,148
14, 538
13, 643
25, 855
Fxports§
thous. of Ib
12,
001
31,942
25,
107
46,
545
32,
697
33,
973
51,817
36,
677
10,
744
26,
669
54,
057
52,
306
Imports total§
do
21,112
6, 232
19,365
41, 904
27, 274
21, 737
2,121
31, 314
28, 343
43 672
37, 754
18 208
Paint oils§ '
do
5,742
12, 861
4, 668
10, 960
5, 769
15, 231
9, 913
8, 333
8, 623
10. 385
14, 553
8, 461
All other vegetable oil!5§
do
392
382
279
390
4C9
443
329
403
356
248
278
313
283
Production J
mil. of Ib
Stocks, end of month:!
r
532
'552
'551
521
519
538
'547
515
'489
458
' 571
'566
' 573
Crude
do
262
304
279
242
250
247
311
353
392
359
292
267
385
Refined
do
r
Revised. 1 Not available, ef See note in the April 1946 Survey with regard to difference between these series and similar data published in the 1942 Supplement to the Survey.
© Excludes data for Mississippi, which has discontinued monthly reports, beginning in the October 1946 Survey.
§ The indicated series continue data published in the 1942 Supplement; unpublished data beginning 1941 or 1942 through February 1945, and also corrected data for 1937-July 1945 for nitrogeneous and total fertilizer imports, will be published later.
O For a brief description of this series see note in April 1946 Survey. £ See note marked "±" on p. S-25 regarding unpublished revisions.
* New series. For source and description of data for glycerin see p. S-23 of November 1944 Survey and for turpentine and rosin, p. S-24 of the May 1946 issue. Small revisions in the data
for June 1943-August 1946 for glycerin will be shown later. Data for 1933-45 for fertilizer consumption by midwestern States and the total (compiled by the National Fertilizer Association),
for 1942-February 1945 for the new series on gelatin, and data prior to August 1946 for bone
black and glue will be published later; data for gelatin, bone black and glue are compiled by the
Bureau of the Census and are complete or practically complete. Data for 1940-43 for sulfur1 are on p. 24 of the May 1946 Survey. See note marked "*" on p. S-23 of the September 1947 Survey
for reference to data for phthalic anhydride.
t Revised series. See note in the November 1943 Survey explaining a change in the superphosphate data and note in September 1947 Survey regarding a company included beginning
January 1946. See note on p. S-23 of the November 1943 Survey regarding change in the turpentine price series.
SUKVEY OF CUEEENT BUSINESS
November 1947
S-25
1947
1946
Unless otherwise stated, statistics through
1941 and descriptive notes may be found
in the 1942 Supplement to the Survey
September
October
November
December
January
February
March
April
May
June
July
August
September
CHEMICALS AND ALLIED PRODUCTS—Continued
OIL SEEDS, OILS, FATS, AND
BYPRODUCT S— Continue d
Copra:
Consumption, factory § .
_. short tons__
Imports §
do _ _
Stocks end of month §
do
Coconut or copra oil:
Consumption, factory :J
Crude
thous. of lb__
Refined
__ _ do
Imports §
do
Production.!
Crude
do
Refined
__do
Stocks, end of month :J
Crude
-do __
Refined
do
Cottonseed:
Consumption (crush)
__thous. of short tons__
Receipts at mills
do
Stocks at mills end of month
do
Cottonseed cake and meal:
Production
_
short tons..
Stocks at mills end of month
_do._ _
Cottonseed oil, crude:
Production
thous. of Ib
Stocks, end of month
_ __do
Cottonseed oil, refined:
Consumption, factory^
do
In oleomargarine
_ _
do
Price, wholesale, summer, yellow, prime (N. Y.)
dol. per lb__
Production
thous. of Ib
Stocks, end of month _.. _ _ _ _ _ _ ... do _
Flaxseed:
Imports §
_thous. of bu.
Duluth:
Receipts
_ __
_ __
do_ _ _
Shipments
do
Stocks
_do
Minneapolis:
Receipts
_do__ _
Shipments
do
Stocks
do _
Oil mills: t
Consumption
__do _
Stocks, end of month. _ _ _ _ _ _ _ _ __do
Price, wholesale, No. 1 (Minneapolis) dol. per bu__
Production (crop estimate)
thous. of bu
Linseed cake and meal:
Shipments from Minneapolis
thous. of l b _ _
Linseed oil:
Consumption, factory J _ _ _ _ _ _ _ _ _
_ do
Price wholesale (N. Y.)
dol. per Ib
Production J
thous. of Ib
Shipments from Minneapolis
do
Stocks at factory, end of month:}:
do_. ._
Soybeans:
Consumption, factory t
thous. of bu.
Production (crop estimate)
do
Stocks, end of montht
do
Soybean oil:
Consumption, factory, refinedf
thous. of l b _ _
Price, wholesale, edible (N. Y.)cf
dol. per lb__
Production :J
Crude
thous. of Ib
Refined
. d o
Stocks, end of month:J
Crude
. ._ _
. _. do
Refined _
-_ ...do
Oleomargarine:
Consumption (tax-paid withdrawals) J
do
Price, wholesale, standard, uncolored, (Chicago)
dol. per lb._
Productionl
thous of Ib
Shortenings and compounds:!
Production
do
Stocks, end of month
do
Vegetable price, wholesale, tierces (Chi)
dol. per lb__
37, 510
35, 960
38, 662
36, 278
27, 381
12, 964
15, 949
43, 495
33, 074
r 42, 680
' 18, 441
0)
r 49, 824
' 27, 714
121
'38,611
' 17, 262
380
47, 417
' 21, 983
45, 306
26, 614
18, 827
16, 305
' 105, 995 '95,417
' 10, 551 '8,603
' 46, 765
93, 768
' 60 299
56, 069
74, 963
89, 781
51, 352
51, 285
71, 902
59, 163
72, 319
72, 777
59, 214
61, 925
77, 541
53, 347
61, 004
59, 714
52, 368
51, 346
44, 320
45, 330
18, 644
42, 300
40, 731
31, 340
26 861
41,828
' 44, 793
' 16, 397
62, 871
26, 648
1,088
64, 270
29, 822
1,822
74, 349
31,217
5,549
72, 406
31, 057
813
70, 349
29, 103
2,394
61, 636
27, 664
3,225
62, 008
23. 784
1,767
69, 608
32, 977
866
72, 257
30 174
r
58, 100
' 19, 581
68, 683
30, 909
63, 024
32, 749
73, 902
36, 581
74, 043
35, 720
68, 398
33, 020
66, 074
28, 611
57, 902
30, 466
51, 902
34, 228
53 609
33 498
87, 005
12, 376
97, 177
13, 935
115, 722
13, 228
130, Oil
14, 267
138, 489
19, 088
134, 949
12, 998
127, 927
14,412
105, 978
10 737
89 363
11 194
o
' 77, 836 " 92, 456
' 9, 585 ' 9, 885
23 871
••235
"463
'365
515
1,070
914
525
703
1,091
397
338
1 032
412
151
771
300
104
575
211
35
399
164
21
256
105
13
164
69
13
107
73
64
98
102
167
163
345
776
594
••101,816
r 55, 416
228, 936
58, 277
232, 892
80, 913
176, 065
119, 928
181, 204
158, 905
132, 015
158, 675
92, 738
126, 818
71, 216
125, 477
45, 904
116, 987
30, 449
87, 614
33, 648
46, 916
47, 068
26, 416
156 076
37 844
•• 71, 769 ' 158, 857 ' 164, 139 ' 125, 387 129, 368
' 66, 044 ' 92, 387 ' 105, 029 ' 97, 569 105, 959
93, 5C4
86, 564
68, 248
72, 088
53, 475
51, 591
35, 115
33, 593
23.286
20, 144
24, 035
14, 967
31,109
19, 209
104 348
57 307
r 61, 674
13, 461
74 751
(2)
r 23, 658
' 160, 107
r
' 93, 703 ' 129, 156 ' 114, 866
22, 832
27, 101
25, 279
108, 240
30, 116
81, 664
28, 008
73, 351
24, 474
53, 077
14, 485
35, 140
12, 981
44, 687
16, 407
56, 312
19, 906
74, 243
20,115
.262
.280
' 142, 025 r 123, 070
' 169, 651 ' 170, 112
.302
113,015
170, 239
.350
103, 872
182, 808
.389
83, 789
191, 326
.314
71, 126
207, 411
.256
48, 730
217, 204
.241
35, 750
2C3, 856
.234
26, 287
171, 342
.179
24, 913
116, 709
.268
116,300
165, 869
97
9
48
20
12
14
18
19
17
77
106
17
883
629
448
591
387
652
,938
,396
,194
211
1,077
327
27
2
307
40
69
303
35
69
270
7
39
238
10
83
145
7
74
78
2
72
8
20
3,174
751
3,219
2,752
547
3,967
,877
,941
3,905
750
73
3,889
479
257
3,513
182
146
2,896
311
190
2,280
532
345
1,615
257
87
1,162
128
202
516
99
82
296
2,125
270
453
r 2, 380
3,644
4.00
' 2, 189
"3,508
5.22
' 2, 271
' 2, 880
7.26
' 1, 807
' 3, 468
7.27
22, 962
1,790
2,024
7.25
1,545
1,415
(3)
1.687
1,457
6.12
1,641
1,892
6.02
1,325
2,526
6.00
27, 840
34,020
37, 200
34, 080
33, 96C
r 43, 285 ' 44, 789 ' 41, 762 ' 40, 960
44, 978
.354
.178
.188
.358
.366
' 47, 159 ' 43, 368 ' 44, 489 ' 35, 302
34 823
23, 040
26, 760
27, 840
21, 720
20, 460
' 129, 267 ' 127, 498 ' 135, 698 ' 152, 782 140, 898
15, 983
' 9, 032
' 10, 950
r
1, 783
* 40, 447
r 90, 379
.155
'95,300
.209
" 56, 990
4
' 15, 655
196, 725
" 59, 610
17, 115
1,335
855
6.3C
24, 420
28, 740
30, 720
26, 760
26, 160
29, 580
18, 540
41, 575
.378
30 499
19, 380
136, 681
45, 174
.395
31 401
23, 460
125, 060
47, ^53
.394
28 850
25 380
131, 769
45, 094
.376
25 064
19, 620
134, 627
38, 716
.325
32 057
13, 620
144, 544
40, 030
.302
32, 950
14, 880
157, 724
39, 834
291
26 527
21 '240
132, 682
16, 490
15, 914
15,006
13, 356
13, 613
56, 104
52, 338
41, 977
41, 680
37, 147
28, C04
19, 124
104, 827
.345
113, 782
.401
101, 229
.351
71,687
.268
75, 842
.244
82, 261
.227
' 82, 506 ' 98, 943 ' 134, 664 ' 137, 121
88, 106
86, 669 ' 119, 536 ' 121, 729
151, 554
126, 298
141, 115
120, 867
145 013
121, 389
141 456
115, 877
135 889
92, 605
97, 712
70, 131
97, 226
76, 995
94, 053
73, 993
89, 302
91, 327
'111,460 ' 107, 565 ' 98, 442
' 56, 807 ' 52, 406 ' 61, 565
o
1,560
980
7.50
107, 954
.323
r 77, 216
12
1,636
1,079
8.51
' 106, 731 ' 96, 434
.297
.320
r 116, 401
r
' 15, 100
4
.224
ec CKO
Q9 081
1, 142
2, 410
6.39
5 39, 980
45, 360
40, 865
. 303
48, 030
27, 240
118, 443
9,681
' 11, 284 5 180,
985
2,779
' 10 248
98, 077
.209
109, 838
.233
122 436
83, 890
125, 706 r 105 315
98, 720
91 251
90, 913
89, 400
108, 829
114, 604
122, 760
128, 141
125, 686 ' 105, 941
141, 671 ' 140, 430
79, 695
123, 377
32, 373
51 428
56 550
57 680
66 262
66 470
66 626
39 376
36 493
39 649
47 448
47 251
.195
37 067
.270
60 271
.420
62 966
.412
59 771
.393
67 946
.394
67 755
.424
69 914
.420
46 716
.354
37 730
.330
41 400
.332
48 897
.330
50 041
.340
100, 408 ' 127, 754 ' 157, 146 ' 139 685 131 754
' 48 356 ' 41 121 r 41 234
51 391
129 315
48 311
138 551
51 184
99 867
66 178
63 151
49 995
78 853
63 094
79 921
47 086
98 978
45 803
117,858
36, 393
(2)
(2)
(2)
.171
.171
(2)
(2)
(2)
(2)
(2)
(2)
(2)
(2)
PAINT SALES
Calcimines, plastic-texture and cold-water paints:*
73
66
64
Calcimines
thous. of dol
101
93
102
82
82
89
90
75
71
235
259
129
135
Plastic-texture paints
do
146
254
230
227
186
292
227
198
Cold-water paints:
454
555
420
In dry form
do
329
403
352
422
419
407
449
460
385
217
261
371
307
In paste form for interior use
do
329
286
312
355
348
334
389
315
69, 991
63, 054
Paint, varnish, lacquer, and fillers, total
do
70, 136
92, 111
73, 538
83,788
81, 632
92, 643
99, 586
99 516
86 806
84 951
55, 773
63, 156
62, 483
Classified, total. _ _ ... _ _ do_ __
66, 131
74, 210
73, 273
82, 017
88, 755
82, 985
89, 296
77, 891
76 905
24,014
28, 219
27, 374
30, 342
32, 405
Industrial
do
29 928
32 540
32 631
31 754
34 338
31 129
30 035
34, 937
35, 109
31, 759
35, 789
41, 804
Trade
_
__do_
43, 345
49, 477
54, 959
51,232
56, 125
47 856
45' 776
7,280
6,836
7,652
Unclassified
do
9,578
7,407
8,358
10. 094
10. 220
10. 831
9.658
8.915
8.047
l
2
3
4
fi
••Revised. Less than 500 pounds. No quotation. No sales. December 1 estimate. October 1 estimate.
§ Data continue series published in the 1942 Supplement; unpublished data through February 1945 for the indicated series will be shown later.
f See note marked "§", on p. S-25 of the September 1947 Survey for reference to July 1941-June 1946 revisions for oleomargarine. Small or scattered revisions for 1941-August 1946 for the
other indicated series will be published later. Complete revisions for 1946 for total vegetable oils are not yet available; revisions for the selected individual series shown above have therefore
not been carried into the totals. Revised data for fish oils are available on a quarterly basis only.
cfThis series, compiled by the U. S. Department of Labor, replaces the series for refined oil shown in the 1942 Supplement; earlier data will be published later.
•Data for some items are not comparable with data prior to 1945; see note for calcimines, plastics, and cold-water paints at bottom of p. S-23 of the December 1945 Survey.
SURVEY OF CURRENT BUSINESS
S-26
November 194
1947
1946
1941 and descriptive notes may be found
in the 1942 Supplement to the Survey
September
October
November
December
January
February
March
April
May
June
July
August
September
CHEMICALS AND ALLIED PRODUCTS—Continued
PLASTIC PRODUCTS
Shipments and consumption:
Cellulose acetate and mixed ester plastics: ®
Sheets, rods and tubes
thous. of lb__
Molding and extrusion materials
do
Nitrocellulose, sheets, rods, and tubes.® ...do
Other cellulose plastics*
do
Phenolic and other tar acid resins*
-do
Urea a n d melamine resins* _ _ _ _ _ _ _ _ d o
Polystyrene*
do
Vinyl resins*
_
.__
do
Miscellaneous resins*
do
1,535
7,001
1,515
877
16, 155
3,893
5,346
13, 217
7, 653
1,977
7,472
1,697
1,234
18, 174
6,281
9,166
14, 235
8,781
1,073
5, 984
1,233
1,691
7,951
1,506
1,920
7,657
1,597
1,481
7,081
1,319
1,610
6,461
1,229
1,762
5,357
1,329
810
889
585
451
318
331
16, 703
6, 056
7,216
15, 130
20, 500
5, 768
26, 981
23, 416
26, 285
15, 387
17,332
26, 797
6,401
6,561
16, 998
8,289
8,092
7,543
6,024
7, 432
8, 190
6,658
6,964
13, 623
7,809
8,000
6,285
7,096
16,316
8,275
1,689
4,317
1,052
1,682
1,410
r
1,479
3, 404
1,284
4,125
3,735
2,779
931
(i)
892
(i)
903
(i)
27, 410
6,102
27, 767
13, 126
6,435
11, 546
5, 891
5, 688
11, 573
5,819
' 26, 000
5, 462
7, 075
27, 30'/
6,854
5,645
5,955
25, 950
0)
5,536
92]
0)
5,72£
12,917
r
8,381
15, 12£
5, 567
8,03$
ELECTRIC POWER AND GAS
ELECTRIC POWER
Production (utility and industrial) , total*
mil. of kw.-hr__
Industrial establishments*
do
By fuels*
_ _ _
do
By water power*
do
Utilities (for public use), totalf
_ do
By fuels t -- do
By water powerf
do _
Privately and municipally owned utilities
do
Other producers!
..
do _
Sales to ultimate customers, total (Edison Electric
Institute)!
mil. ofkw.-hr
Residential or domestic
do
Rural (distinct rural rates)
do
Commercial and industrial:
Small light and power!
do
Large light and power!
do _ _
Street and highway lighting!
do
Other public authorities!
_ _ do
Railways and railroads!
do
Interdepartmental!
_ _ do
Revenue from sales to ultimate customers (Edison
Electric Institute)
thons of dol
22, 788
3,983
3,674
309
18, 805
13, 169
5,636
24, 430
4,208
3,867
341
20, 222
13, 935
6,287
23, 943
3,994
3,675
319
19, 949
13, 669
6,280
24, 875
4,028
3,672
356
20, 847
14, 269
6,578
25, 957
4,321
3,896
425
21, 636
14, 500
7,136
23, 698
4,083
3,683
399
19, 616
13, 261
6,355
25, 544
4,298
3,843
455
21, 246
13, 981
7,265
24, 652
4,148
3,711
437
20, 504
13, 216
7,287
25, 009
4,203
3,809
424
20, 776
13, 387
7,389
24, 469
4,225
3,825
400
20, 244
13, 451
6,793
24, 938
4,156
3,772
383
20, 782
14, 236
6,546
25, 969
4,225
3,892
333
21,744
15, 690
6,053
25, 63^
4,155
3,85£
29£
21, 481
15, 87£
5,606
16, 123
2,682
17,316
2,906
17, 119
2,830
17, 842
3,005
18, 545
3,092
16, 833
2,783
18, 266
2,980
17, 661
2,843
17, 801
2,975
17, 414
2,829
17, 847
2,935
18, 733
3,011
18, 630
2,851
16, 358
3,018
489
16, 721
3,130
410
16, 933
3,414
328
17, 450
3,739
302
18, 302
4,149
291
17, 783
3,960
295
17, 772
3,727
320
17, 665
3,572
421
17, 610
3,437
514
17, 546
3,369
558
17,308
3,307
606
18, 099
3,332
681
2,825
8,800
184
455
537
50
2,821
9,064
206
471
572
47
2,944
8,908
222
460
609
49
3,018
8,832
236
600
667
55
3,175
9,219
233
511
674
51
3,142
8,988
204
506
643
46
3,026
9,285
200
491
673
50
3,070
9,264
178
494
618
46
2,994
9,375
165
475
604
46
3,060
9,356
154
475
531
44
3,123
9,068
160
459
538
45
3,252
9,601
175
483
532
44
288, 151
292, 697
300, 599
311, 020
326, 460
320, 174
313, 074
310, 762
310, 025
309, 631
305, 855
315 590
GASt
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 cu ft
Residential
do
Industrial ar>d coTnmercial
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 cu ft
Residential (incl house-heating)
do
Industrial and commercial
do
jjevenue from sales to consumers total thous of dol
Residential (incl house-heating)
do
Industrial and commercial
do
11,319
10, 616
694
110, 834
70, 113
39, 657
11,411
10, 687
714
146, 400
98, 474
46, 171
11, 224
10, 502
713
198, 580
139, 476
57, 139
11, 258
10, 536
713
151,485
100, 881
49, 273
107, 835
80, 923
26, 214
130, 155
97, 743
31, 345
159, 188
119,318
38, 714
135, 259
100, 682
33,719
9,259
8,654
600
465 984
73, 020
383, 859
131, 165
56,383
73, 393
9,478
8,812
661
573, 015
161, 021
400, 202
188, 587
101, 256
85, 239
9,739
8,999
734
728, 393
297, 553
422, 052
270, 598
171, 935
96, 797
9,772
9,051
715
596 470
161, 527
428, 608
197, 743
104, 348
92, 106
FOODSTUFFS AND TOBACCO
ALCOHOLIC BEVERAGES
Fermented malt liquors :f
r 6, 611
5,761
6,836
7,435
9,044
r 7, 219
' 6, 917
' 7, 985
8,342
8,833
8,738
' 8, 456 ' 8, 080
Production
- thous. of bbl__
6,277
7,029
' 7, 512
r 7, 254
' 7, 235 ' 6, 525 r 6, 541
' 5, 985
«• 5, 544
8,842
8,369
7,939
8,776
Tax-paid withdrawals
do
9,021
r 8, 169
«• 9, 326
9,399
' 7, 856
' 8, 384
* 8, 547
' 9, 140
9,067
' 9, 531
9,565
9,453
9,050
Stocks, end of month
_ __
do
Distilled spirits:
Apparent consumption for beverage purposes!
19, 739
19, 933
14, 871
12, 173
17, 691
20, 408
13, 455
13, 730
11, 974
11, 392
12, 283
12, 378
thous. of wine gal
1,312
1,219
725
817
791
751
1,447
1, 125
834
1,071
797
Imports§
thous. of proof gal
1,611
14, 187
22, 218
13, 726
Productionf
thous. of tax gal__ r 25, 525 ' 33, 039 -21,511 '31,681 ' 38, 495 ' 34, 702 ' 32, 747 ' 27, 568 ' 21, 854 r 16, 429
' 9, 806 r 8, 647
' 6, 130
8,639
5,650
' 11, 266
'13,227 ' 12, 792 ' 12, 156 '12,511 ' 10, 073
' 6, 039
7,171
Tax-paid withdrawals!
do.
419, 345
433, 137
454, 426
473, 163 ' 491, 965 r 506, 015 r 518, 459
418, 925
537, 471
525, 828
529, 523
533, 051
420, 778
Stocks, end of month f
- do
Whisky:
873
582
712
969
1,033
713
708
833
1,071
1,002
793
757
Imports§
thous. of proof gal
r
r
' 19, 792 ' 24, 674 ' 21, 434
' 17, 201
9, 257
7, 836
19, 272
14, 143
8,517
9,932
7,229
9,790
7,197
Productionf
thous. of tax gal
r
r
r
r
r
r
r
r
r
4, 635
4, 442
6, 435
5, 782
5, 860
4, 559
3, 185
3,372
4,915
5, 967
4,258
3, 280
2,975
Tax-paid withdrawals!
do
380, 295 * 380, 551 r 391, 597 ' 408, 896 ' 423, 844 r 437, 614 r 449, 335 * 459, 217
464, 825
468, 432
471, 273
474, 956
378, 902
Stocks, end of month t
do
r
Revised, i Not available for publication. § Data continue series published in the 1942 Supplement; data for December 1941-February 1945 will be published later.
!For 1943-44 revisions for the indicated series see notes at bottom of pp. S-23 and S-24 of the May 1945 Survey.
<8>Data for sheets, rods and tubes are comparable with similar data in the 1942 Supplement; see note in September 1946 Survey regarding change in data for molding, etc. materials.
*New series. For data for 1939-45 for production of electricity by industrial establishments see p. 32 of the February 1947 Survey. The new series for plastic products are from the Bureau
of the Census and include all known producers; earlier figures and a description of the data will be published later.
fRevised series. Gas statistics are shown on a revised basis beginning in the December 1946 Survey; see note in that issue. For revised figures for the indicated series on electric power
production, except the series for "other producers," see p. 32 of the February 1947 Survey. See note marked "t" on p. S-26 of the September 1947 Survey for reference to revisions for 1940-45
for consumption of distilled spirits for beverage purposes and for the fiscal years 1941-46 for the other alcoholic beverage series; the note also explains a change in the series for stocks of distilled
spirits; see p. S-23 for tax-paid withdrawals of ethyl alcohol, which are largely for beverage purposes.
SURVEY OF CURRENT BUSINESS
November 1947
Unless otherwise stated, statistics through
1941 and descriptive notes may be found
in the 1942 Supplement to the Survey
S-27
1947
1946
September
October
November
December
January
February
March
April
May
June
' 6, 706
' 6, 154
r
July
August
September
FOODSTUFFS AND TOBACCO—Continued
ALCOHOLIC BEVERAGES— Continued
Rectified distilled spirits, production, total!
thous. of proof gal. .
Whisky
do
Wines arid distilling materials:
Sparkling wines:
Imports^
thous. of wine gal
Production!
do
Tax-paid withdrawals!
do
Stocks, end of month f
do
Still wines:
Imports§
do
Production©
_
.
. _ _ ..do-. _
Tax-paid withdrawals!
do
Stocks end of monthf
do
Distilling materials produced at wineries© do
' 14, 593 r 16, 423
' 12, 618 r 14, 609
39
' 251
166
1,400
319
' 51,146
r 10,343
r 129,109
r
98, 687
46
251
254
' 1, 390
443
r 14, 045
"15,155
' 13, 527 r 12, 300
r 13, 837
12, 528
r 10, 139
r 10, 648
9,621
84
192
181
20
192
68
7
152
49
9
226
75
85
184
••235
r 1, 326
1,315
1,429
470
331
255
' 11,144
' 1, 522
232
862
r 84, 287
3, 639
20, 900
9,883
12,088
11,563
408
' 206, 457 ' 216, 776 r 205,
T
144, 124
r 56, 726
9, 968
1,099
f 7, 400
197,314
1,743
5, 577
r 190, 143
1,303
.666
97, 540
18, 224
.709
91,815
9,988
«• 9, 349
' 8, 673
' 7, 021
6, 522
7,831
7,012
r 8, 083
7,522
13
130
62
1,665
9
221
51
12
146
44
9
48
64
1,826
1,882
9
74
51
1,975
1,990
1,964
265
535
171
466
172
390
129
309
99
383
5,682
168, 710
1,040
6,249
160,211
661
6, 627
152 534
'1,867
2,479
6, 680
146 660
7,948
.613
146, 455
17, 445
.633
157, 120
51, 625
.674
148, 790
83, 286
.745
'r116, 550
88, 364
' 6, 629
5,960
' 181, 179 r 174, 584
3,279
1,580
r
9,689
8, 965
117
DAIRY PRODUCTS
Butter, creamery:
.768
Price, wholesale, 92-score (N. Y.)t
dol. per l b _ _
Production (factory) f
thous. of l b _ _ 106, 850
73, 931
Stocks, cold storage, end of monthcf
do
Cheese:
2,652
Imports§
.
do.
Price, wholesale, American Cheddars (Wisconsin)
.435
dol. per lb-_
92, 445
Production, total (factory)!...
.thous. of l b _ 69, 988
American whole milk!
do
157, 180
Stocks, cold storage, end of rnonthcT
..do
126, 084
American whole milk
_.
do
Condensed and evaporated milk:
Exports: §
2,955
Condensed
do
55, 233
Evaporated
do
Prices, wholesale, U. S. average:
7.78
Condensed (sweetened) _ .
dol. per case-5.46
Evaporated (unsweetened)
do
Production:
Condensed (sweetened):
69, 685
Bulk goods0
thous. of lb._
8,523
Case goods!
do
240, 372
Evaporated (unsweetened), case goods!-, do
Stocks, manufacturers', case goods, end of month:
12, 547
Condensed (sweetened) ... '.
.thous. of l b _ _
202, 775
Evaporated (unsweetened).
do
Fluid milk:
4.43
Price, dealers', standard grade — dol. per 100 lb_9,446
Production!
_ . _.
mil. o f l b
Utilization in manufactured dairy products!
3,759
mil. oflb- .
Dried skim milk:
Exports§.
_thous. o f l b
11, 683
Price, wholesale, for human consumption, U. S.
.147
average
_
___dol. per lb_.
39, 061
Production, total!. _
thous. o f l b
38, 354
For human consumption!
do
Stocks, manufacturers', end of month, total
62, 267
thous. of lb_For human consumption
do
«• 60, 850
FRUITS AND VEGETABLES
Applet:
Production (crop estimate)
thous. of bu..
Shipments, carlot
. no. of carloads
Stocks, cold storage, end of month. .thous. of bu_Citrus fruits, carlot shipments
no. of carloads.Frozen fruits, stocks, cold storage, end of month
thous. of lb.Frozen vegetables, stocks, cold storage, end of
month
thous. of lb-_
Potatoes, white:
Price, wholesale (N. Y.)
dol. per 100 lb_Production (crop estimate)!
thous. of bu._
Shipments, carlot
no of carloads
.840
100, 372
59, 586
.816
82, 392
41, 477
.822
89, 160
27, 874
3,089
1,384
1,304
652
389
0)
84, 720
61, 883
129, 941
101, 185
.449
71, 127
51, 665
123, 435
92, 422
.399
69, 214
51,115
123, 592
93, 873
.383
74, 055
55, 315
114, 606
87, 459
.370
76, 680
58, 540
98, 053
74, 795
1,979
30, 767
3,634
39, 791
15, 580
46, 037
8,911
28, 828
7.92
5.79
8.25
5.88
8.25
5.88
52, 989
7,759
194, 974
30, 146
6,461
167, 667
11,377
171, 026
4.62
8,989
.696
110, 485
7,818
.802
101, 465
76, 748
455
355
401
100, 160
77, 485
93, 427
71, 757
.338
115, 540
91, 655
113,854
88, 737
.298
144, 015
118, 455
133, 495
106, 479
0)
152, 125
125, 815
161, 363
130, 005
4 273
23,324
4 694
25, 355
7 275
23, 534
7 549
39 517
8 562
42 862
9 201
44 968
8 161
41 394
8.25
5.86
8.25
5.72
8.28
5.64
8.27
5.42
8.26
5.23
8.26
5. 18
8.26
5 19
8.26
5 20
8.26
5 24
33, 956
6,849
183, 929
34, 160
7,925
205, 000
38, 695
7 200
209, 700
56, 340
8 610
269, 000
82, 800
11 850
320, 500
111, 875
13 000
416, 200
116, 620
12 950
410, 000
76, 555
15 025
347, 600
31, 540
17 150
257, 400
22, 470
21 100
218, 000
8,701
148, 210
5,230
129, 464
4,923
130, 902
4,346
117, 497
5,450
118, 926
5,279
148, 266
6,387
278, 814
7,196
440, 952
9,477
501, 177
10, 561
471, 600
11, 333
379, 712
4.87
8,297
4.96
8,529
4.94
8,911
4.74
8 491
4.68
9 870
4.63
10 472
4.46
12 260
4.41
12 864
4.48
12 148
4.60
10 644
4.71
9 313
3,429
2,845
3,020
3,294
3,202
3,955
4,358
5,509
5,814
5,344
r 4, 233
3,658
6,546
14, 728
4,540
9,594
10, 321
7,545
16,274
14, 401
13, 170
9,420
13 436
.146
29, 283
28, 853
.147
25, 500
25, 091
.145
37, 233
36, 624
.131
47, 000
46, 200
.114
52 280
51, 230
.100
69 355
67, 200
.100
77 390
75, 040
.094
91 665
88, 200
.096
102 020
96, 730
.095
81 830
78, 500
.097
51 925
49,450
.102
41 000
39, 740
46, 885
44, 852
34, 809,
32, 786
39, 543
38, 299
45, 947
45, 600
61, 886
61 213
80, 236
79 126
78, 047
76 646
102, 973
100 888
114, 439
110 775
94, 980
91 028
76, 622
74 0^0
50, 487
48 813
11, 992
31, 973
11, 105
7,014
33, 413
15, 645
* 119, 410
6 767
27, 344
19, 802
5 894
19, 379
21, 234
5 222
12. 944
17, 032
3 625
7,593
11,391
2 347
3,954
18, 216
1 687
1,544
17, 774
627
329
13, 857
1 428
219
9,429
'264
9,027
501, 914
510, 257
497, 802
470, 710
439, 226
403, 664
367, 013
319, 718
327, 700
332, 345
374, 363
r
408, 119
409, 174
317, 691
351, 273
351, 474
333, 084
320, 307
296, 588
276, 099
247, 795
230, 827
251, 687
307, 574
' 326, 603
354, 045
6,333
10, 145
6,998
487
.631
116, 530
9,194
0)
459
647
.338
.345
136, 425 ' 110, 140
113 505 '89 610
185, 202 r 202, 597
151 661 r igg 571
yg^
r
. 365
92, 755
74, 535
195, 869
166, 330
3 112 910
6 214
10, 219
7,403
3.188
2.515
2.312
2.638
3.006
3.490
3.812
4.106
25, 389
21 976
2.495
2 475, 969
17 251
2.538
21, 601
20 798
21 830
30 138
26 782
23 713
ne 979
99 *}1 ^
1Q H98
24, 134
12, 333
26, 987
35, 135
33, 245
41,672
48, 528
48, 397
50, 766
39. 208
35, 828
34 440
249
209
489
435
271
572
624
797
1,226
1.289
1,531
856
1.698
1.667
1.697
1 612
1.721
"1 616
1.768
1 689
2
263, 350
9,214
1.775
1 698
1.764
1 642
1.914
1 838
1.922
1 806
2.010
2.136
2 non
2,259
9 i ^n
2,299
2.276
8,252
7,974
27, 119
3 284 497
25, 093
7 7W
30, 000
c rnq
M
0)
(>)
0)
3 378, 099
25 187
GRAINS AND GRAIN PRODUCTS
Exports, principal grains, including flour and meal§
thous. of bu-_
Barley:
Exports, including malt§
do
Prices, wholesale (Minneapolis):
No. 2, malting
dol. per b u _ No. 3, straight
do
Production (crop estimate)!. _. ._ thous. of bu
Receipts, principal markets
do
Stocks, domestic, end of month:
Commercial
do
On farms*
do
r
2
22, 046
14, 840
8,026
18, 248
160, 258
26, 161
24 510
20 985
110, 000
10, 241
4,806
7,242
9,625
20 608
19 313
14 108
66, 818
10 816
1 RQfi
8,449
S
CfiQ
cynn
165, 594
3
Revised. * No quotation.
December 1 estimate.
October 1 estimate.
JSee note in June 1945 Survey for explanation of this price series. cfSee note marked "cf "on p..£S-29.
ODistilling materials produced at wineries, shown separately above, were conbined with production of still wines as shown in the Survey through the February 1947 issue
§Data continue series published in the 1942 Supplement but suspended during the war period; data for October 1941-February 1945 will be published later.
• Revised 1943 data are on p. 13 of the March 1945 Survey; see note on item in February 1945 issue regarding earlier data; 1944-46 revisions are on p. 23 of October 1947 Survey
*New; series. Data beginning 1936 will be shown later; the June figure includes old crop only.
also be shown later, January 1940-December 1945 revisions for milk production are on p. 19 of the April 1947 Survey.
request.
Revised estimates of potato crop and barley for 1929-44 are available on
SURVEY OF CURRENT BUSINESS
S-28
Unless otherwise stated, statistics through
1941 and descriptive notes may be found
in the 1942 Supplement to the Survey
November 1941
19 46
September
October
1947
November
December
January
February
March
April
May
June
July
August
September
11, 100
FOODSTUFFS AND TOBACCO—Continued
GRAINS AND GRAIN PRODUCTS— Con.
Corn:
Exports including meal§
thous. of bu
Grindings wet process
do
Prices, wholesale:
No 3 white (Chicago)
dol. per bu
No 3 yellow (Chicago)
do
Weighted average, 5 markets, all grades,, do
Production (crop estimate) f
mil of bu
Receipts principal markets
do.
Stocks, deomstic, end of month:
Commercial
do __
On farmsf
-do. _ _
Oats:
Exports, including oatmeal§_- .. thous. ofbu. .
Price, wholesale, No. 3, white (Chicago)
dol. perbu..
Production (crop estimate) f
mil. ofbu
Receipts pri-ic^pal markets
do - .
Stocks, domestic, end of month:
Commercial
.do
On farmsj
^°
Rice:
Exports^
- thous. of Ib.
Imports^
-do
Price, wholesale, head, clean (N. O.)__dol. per lb_.
Production (crop estimate)!
thous. ofbu.
California:
Receipts, domestic, rough
thous. of bags (100 lb..)_.
Shipments from mills, milled rice
do
Stocks, rough and cleaned (in terms of cleaned) ,
end of month
thous. of bags (100 Ib.) ._
Southern States (La., Tex., Ark., Tenn.):
Receipts. rough, at mills. _thous. of bbl. (162 Ib,). .
Shipments from mills, milled rice
thous. of pockets (100 Ib.) - Stocks, domestic, rough and cleaned (in terms
of cleaned) , end of month
thous. of pockets (100 lb.)__
Rye:
Price, wholesale, N o . 2 (Minneapolis) _dol. per bu. .
Production (crop estimate)!
thous. of bu
Receipts principal markets
do.
Stocks, commercial, domestic, end of month_do
Wheat:
Disappearance domestic!
do
Exports wheat, including
flour§
-do
Wheat only §
do
Prices, wholesale:
No. 1, Dark Northern Spring (Minneapolis)
dol. perbu..
No 2 Red Winter (St Louis)
do ___
No 2 Hard Winter (Kansas City)
. do
Weighted av , 6 mkts , all grades
do
Production (crop estimate) total! mil. of bu
Spring wheat
do
Winter wheat
do __
Receipts principal markets
thous. of bu.
Stocks, end of month:
Canada (Canadian wheat)
-do
United States domestic total^!
do
Commercial
do
Country mills and elevators!
do
Merchant mills
do _
On farms!
do
Wheat flour:
Exports§
thous. of bbl__
Grindings of wheat®
thous. of bu
Prices, wholesale :cf
Standard patents (Minneapolis) ..dol. per bbl..
Winter straights (Kansas City)
do
Production (Census):®
Flour
thous. of bbl_.
Operations percent of capacity
Offal
- mil. o f i b _ _
Stocks held by mills end of month® thous of bbl
2,076
12,313
4,828
12, 705
8,469
11, 701
8,045
12, 245
15, 421
12, 091
20, 706
12, 385
13. 440
11, 794
11, 322
11, 635
3,909
11, 083
1.497
1.340
1. 245
2 3, 287. 9
44.3
40.6
1.431
1.332
1.206
1.511
1.419
1.307
1.742
1.731
1.594
1.784
1.782
1.694
1.790
1.779
1.677
2.143
2.097
1.948
0)
2 169
1.995
2.740
2 346
2.295
49.9
43.6
48.2
38.8
38.7
40.2
39.1
14.8
27.9
2, 165. 8
31.7
34.5
37.4
1, 294. 7
29.1
16.3
11.2
687.8
11.8
946
2,517
1,703
.863
.854
111
10, 456
385
11, 652
487
12, 198
0)
1.894
1.829
2.100
1.819
1.630
1.750
1.392
1.309
11.3
18.1
4.9
* 153. 0
4.1
3,872
.810
25.3
18.9
11.4
20.3
1, 155. 7
19.7
14.2
14, 185
596
.072
8,952
667
.082
56
53
1,364
492
2 583
2 513
2.370
3 2 458 7
22.8
22 6
7.7
4
7. 9
258 3
797
323
1,187
656
775
1,343
1,513
866
.837
.836
.943
.923
.988
1.021
.952
1.014
11.5
9.4
14.7
12.9
14.2
12.2
16.2
29.2
9.2
898.8
7.4
6.2
6.3
536.8
5.4
4.6
5.0
* 259. 1
5.6
15.9
114,533
155
.086
160, 842
6
.090
2 71, 520
78, 154
133
.090
170, 845
2
.090
58, 220
8
.090
84, 858
203
.089
57, 142
163
.090
49. 624
3
.090
22, 897
1
.126
21 , 592
.12,5
.125
3 76 718
902
704
860
704
863
602
759
557
792
393
594
478
583
496
300
242
207
154
41
152
75
69
.825
2 1 . 509. 9
11.3
3
1.161
1 231 6
22 5
26 6
977 5
124
523
453
328
327
284
410
329
233
171
169
59
41
2,522
4,715
2,573
1, 342
669
422
207
133
83
107
99
573
3,306
1,093
2,351
2,754
1,755
1, 807
1,452
1,130
681
515
246
477
309
1,784
2,018
4,631
4,654
4,378
3,403
2,440
1, 568
1,048
615
476
119
393
2.002
2.235
2.392
2.676
2.857
3.108
3.539
3.108
3.192
3.029
2.541
2.466
1,123
1,126
799
1,612
692
2,143
2.793
2 18, 685
596
2,476
469
2,465
322
2,336
354
2,139
238
1,878
138
1,358
102
1,024
177
556
2 634
2,214
2.817
3 25 40*)
2 084
3, 824
'305 515
19, 835
10, 501
10, 793
6,100
23, 369
11, 563
r 307, 625
30, 920
14. 995
27, 349
11,141
32, 309
12, 694
334, 145
38, 673
17, 555
31, 523
13, 277
28, 060
9,111
' 224, 944
22, 776
4,006
21, 462
7,065
28, 807
16 863
2.097
2.082
1.960
2.048
2.203
2.144
2.039
2.143
2.248
2.331
2.090
2.175
2.314
2.395
2.261
2.279
2.715
2.811
2.694
2.671
2.638
2.745
2.676
2.616
2.677
2.705
2.693
2.637
2.719
2.587
2.373
2.563
2. 935
2.368
2.288
2.400
2.710
2. 384
2 318
2.472
26, 156
121, 869
2.265
2.324
2.072
2.169
2 1, 155. 7
2 281. 8
2 873. 9
36, 581
33, 868
2.331
2.250
2.104
2.227
38, 254
38, 716
35, 030
37, 807
26, 345
131, 889
119,006
80,514
48, 432
44, 745
109, 849
308, 563
32, 838
61,010
71, 957
139, 855
93, 964
85, 512
148, 849
642, 685
56, 256
118,991
96, 779
366, 255
24, 440
70, 405
' 83, 623
15, 803
* 8, 129
' * 9, 976
*4 24, 591
40, 427
998
60, 069
2,512
57, 690
3,388
60, 6*7
3,449
64, 575
4,173
57, 162
4,493
63, 301
3,882
56, 818
4,032
55, 744
3,994
55, 462
' 57, 031
9.25
9.19
9.55
9.38
10.95
10.38
11.61
10.90
11.52
11.10
11.62
11.42
13.66
12.99
13.17
12.97
12.74
12.39
12.60
11.03
13.27
10.77
12, 078
84.5
903
2 205
13, 298
82.7
1,023
12, 749
89.1
986
13, 368
89.5
1,044
3,216
14, 238
92.3
1,113
12, 609
93.2
983
13, 991
91.4
1,091
2,842
12, 604
82.3
967
12, 445
81.1
930
12, 332
83.9
928
2 237
56, 113
54, 929
109, 723
' 950, 308
103, 595
' 177, 351
114, 463
552,715
141,047
152, 631
98, 392
1,986
54,210
4
348 515
2.840
2 704
2 646
2 801
3 i 406 g
3
311 1
3
1 095. 6
91, 847
72 625
55, 395
58, 655
114, 913
167, 718
113 863
1 141 869
175 069
197 821
136 216
628 773
2,541
59 619
56 720
12.72
10.97
13.57
12 03
3,063
r
' 12, 713 ' 13,
233
r
86. 4
'83 2
••944
'996
12, 646
85 8
948
2 523
LIVESTOCK
Livestock slaughter (Federally inspected):
591
521
644
678
627
591
621
656
364
651
656
719
628
Calves
thous. of animals..
1,352
1,264
1,228
1,203
1,403
1,143
1,207
1,348
1,274
360
1,103
1,217
1.407
Cattle
do
3,831
5,844
3,616
5, 434
3, 897
3,406
3,653
3,114
5,133
438
3,455
2,731
2,948
Hogs
-do
1,542
1,322
1, 355
1,529
1,271
1,237
1,329
1,346
1,300
2,005
1,280
1,253
1,458
Sheep and lambs
do
Cattle and calves:
2,154
2,404
2,290
2,183
2,384
2,875
2,447
1,950
2,435
3,664
1,923
2,259
3,199
Receipts, principal markets. _.thous. of animals..
100
154
131
120
445
233
161
98
157
388
730
395
198
Shipments feeder to 8 corn belt States! do
Prices, wholesale:
24.06
23.19
21.94
23.30
22.93
25.87
23.64
22.16
27.85
17.99
23.57
29.54
28.84
Steers, beef (Chicago)
dol. per 100 lb._
19.91
21.33
17.63
17.68
18.96
20.13
16.42
16.30
21. 11
21.91
15.99
21.65
21.22
Steers stocker and feeder (Kansas City).— do
23.63
18. 20
22. 13
22.88
22.90
20.38
24.00
22.94
18.38
16.15
18.19
22.63
24.00
Calves, vealers (Chicaeo)
do
r
Revised. l No quotation. 2 December 1 estimate. 3 September 1 estimate.
4
Includes old crop only; new corn not reported in stock figures until crop year begins in October and new oats and wheat until crop year begins in July.
ter.
§ Data continue series published in the 1942 Supplement but suspended during the war period; data for October 1941-February 1945 will be published lat
cTAugust 1946 quotations are for flour of 80 percent extraction; beginning September 1946, quotations were resumed for flour of normal extraction (72 percent).
1 The total includes wheat owned by the Commodity Credit Corporation stored off farms in its own steel and wooden bins not included in the break-down of stocks.
! Revised series. The indicated grain series have been revised as follows: Crop estimate for oats, 1932-44, and rice, 1937-44; other crop estimates, 1929-44; domestic disappearance of wheat
and stocks of wheat in country mills and elevators, 1934-44; corn, oat and wheat stocks on farms and total United States stocks of domestic wheat, 1926-44; all revisions are available on request.
See p. S-27 of the August 1943 Survey for revised figures for 1941-42 for feeder shipments of cattle and calves.
®Data for June 1947 and previous months were reported by approximately 1,100 mills believed to account for about 98 percent of the industry; later data are estimated from monthly
reports of 425 mills with a daily 24-hour capacity of 401 sacks or more of flour.
SUKVEY OF CURRENT BUSINESS
November 1947
Unless otherwise stated, statistics through
1941 and descriptive notes may be found
in the 1942 Supplement to the Survey
S-29
1947
1946
September
October
November
December
January
February
March
April
May
June
July
August
September
FOODSTUFF AND TOBACCO—Continued
LIVESTOCK—Continued
Hogs:
Receipts, principal markets. _. thous. of animals. _
Prices:
Wholesale, average, all grades (Chicago)
dol. per 100 lb_.
Hog-corn ratio f
bu. of corn per 100 Ib. of live hogs..
Sheep and lambs:
Receipts, principal markets. _ _ thous. of animals. _
Shipments, feeder, to 8 corn belt Statesf
do
Prices, wholesale:
Lambs average (Chicago)
dol. per 100 Ib
Lambs, feeder, good and choice (Omaha) .do
293
2,268
3,244
2,993
3,469
2,304
2,017
2,245
2,270
2,329
2,206
1,774
1,943
16.25
22.82
24.07
22.87
22.45
25.70
27.10
23.49
22.24
22.06
22.11
23.74
26.66
9.1
13.5
18.0
18.6
18.0
19.4
17.6
14.9
14.4
12.6
11.7
11.1
11.3
2,542
865
3,660
941
1,966
304
1,495
121
1,669
171
1,406
198
1,293
133
1,506
136
1,713
128
1,982
134
1,677
166
1,688
283
2,452
556
19.00
17.26
23.00
17.90
22.25
17.77
23.25
18.00
23.25
19.45
23.12
20.18
23.12
21.22
21 25
19.56
21.62
0)
24.25
0)
22.75
0)
20.25
21.31
22.50
22.60
61
13
1,245
32
1,742
40
1,724
42
1,954
58
1,434
56
1, 393
57
1,438
91
1,525
57
1,490
40
1,509
55
1,289
"636
1,356
59
505
56
29
MEATS
Total meats (including lard) :
Exports§
mil. of Ib
Production (inspected slaughter)
do
Stocks, cold storage, end of month (gicf _. do
Edible offal®
do
Miscellaneous meats and meat products®
mil. of lb-_
Beef and veal:
Exports§
thous. of Ib
Price, wholesale, beef, fresh, native steers
(Chicago)
dol. per lb-Production (inspected slaughter)
thous. of lb_.
Stocks, cold storage, end of month <8>c?
do
Lamb and mutton:
Production (inspected slaughter)
do
Stocks cold storage, end of month <8>cf
__do_~Pork including lard, production (inspected
slaughter)
- - thous. of lb__
Pork, excluding lard:
Exports§
do
Prices, wholesale:
Hams, smoked (Chicago)
dol. per lb._
Fresh loins, 8-10 Ib. average (New York)_do
Production (inspected slaughter)
thous. of Ib..
Stocks cold storage, end of month <S)&
_.do
Lard:
Exports §
.
do
Price, wholesale, refined (Chicago) _ _ -dol. per lb__
Production (inspected slaughter)
thous. of lb_.
Stocks, cold storage, end of monthcf
do
351
258
22
297
26
442
39
623
56
854
68
854
68
857
71
843
67
797
67
772
69
743
67
19
21
26
36
54
57
64
67
63
50
40
"36
19, 691
2,535
532
828
3,475
8,377
7,024
17, 401
42, 376
30, 819
19, 564
15,261
.235
210, 423
79, 051
.380
590, 798
64, 521
.409
689, 827
111,091
.415
705, 974
169, 271
.384
757, 702
192, 660
.362
631, 697
195, 820
.371
681, 465
201, 209
.370
679, 933
175, 724
.376
705, 739
144, 538
.408
670, 038
114, 568
.434
702, 877
101, 732
"469
650, 486
" 106, 179
482
749, 027
93, 440
54,268
8,844
84, 170
10,602
64, 591
15, 696
58, 723
16, 893
68, 215
17,114
57, 380
16, 554
57, 648
14, 110
60, 737
10, 808
60, 183
9,563
54, 823
9,348
53, 172
8,085
52,007
" 7, 837
60,043
6,802
85, 991
570, 068
987, 245
959, 053 1, 128, 378
586, 369
547,045
12, 737
1,076
.265
.333
71, 181
99, 859
11, 679
.190
10, 665
30,021
POULTRY AND EGGS
Poultry:
.307
Price, wholesale, live fowls (Chicago) . . dol. per Ib. .
61, 131
Receipts 5 markets
thous. of Ib
184,
841
Stocks, cold storage, end of monthcf
do.. _
Eggs:
4,735
Dried production*
do
Price, wholesale, U. S. standards (Chicago)*
.406
dol. per doz._
3,295
Production t
millions
Stocks, cold storage, end of month:cf
5,738
Shell
thous. of cases
207, 244
Frozen
thous of Ib
745, 090
653, 686
697, 129
758, 646
756, 848
753, 173
1,305
6,635
5,040
3,768
6,587
7,173
15, 010
4,684
1,955
4,401
.265
.476
462, 454
142, 912
.554
.512
757, 765
209, 946
2.522
.404
728, 500
276, 232
2.509
.427
827, 411
399, 473
2.529
.509
555, 330
399, 317
2.614
.505
484, 593
397, 794
2.546
..508
521, 406
394, 421
2.554
.531
561, 155
364, 531
2.572
.529
556, 305
352, 814
2.599
.552
550, 620
331, 746
2.641
.593
438, 482
" 264, 124
2.664
.622
417, 926
194, 096
8,268
.190
77, 888
31, 513
16, 647
.392
167, 381
40, 623
20, 521
0)
168, 326
68,756
25, 074
.260
220, 245
122, 988
38, 760
.298
138, 683
117, 557
37, 884
.338
123, 637
109, 254
28, 041
.300
128, 445
127, 680
28, 728
.198
144, 207
148, 663
17,304
.195
146, 690
175, 269
13, 370
.182
148, 100
193, 736
25,621
.176
108, 114
" 162, 565
.176
94, 015
125, 971
.298
89, 972
261, 006
.242
72, 952
301, 030
.266
65, 114
316, 577
.242
27, 631
316, 792
.266
23, 641
283, 825
.299
27, 199
242, 485
.292
26, 255
208, 256
.275
33,063
187, 717
.244
35,000
171, 260
.240
40, 474
174, 627
.235
37, 316
" 183, 024
.242
51, 774
206, 487
2,900
2,585
3,946
11, 744
12, 749
11, 031
9,067
14, 464
14, 610
9,310
1,324
158
.420
3,190
.406
3,110
.388
3,765
.388
4,568
.378
4,813
.418
6,171
.425
6,328
.409
6,146
.414
5,202
.434
4,539
.422
3,832
.450
3,383
3,585
168, 591
1,717
132, 664
767
287
80,800
221
508
102, 437
73, 564
98, 718
1,742
153, 876
3,452
202, 245
4,203
237, 303
4,268
241, 573
3,807
" 234, 434
2,815
216, 520
MISCELLANEOUS FOOD PRODUCTS
43,684
36, 258
52,005
53, 439
56,850
39,505
42, 059
58, 249
55, 919
54, 122
56, 850
63, 089
56, 287
Candy, sales by manufacturers
. -thous. of doL.
Cocoa or cacao beans:
13,
627
18,
859
15,
382
20,
376
46,
248
9,405
25,
027
20,
390
38,
078
13,
942
12,
237
19, 598
Imports§
long tons
.327
.282
.301
.245
.288
.259
.089
.191
.266
.280
.404
.345
.140
Price, wholesale, accra (N. Y.)§
dol. per lb._
Coffee:
912
1,341
1,057
1,524
1,184
756
814
1,178
1,109
1,448
1,416
1,425
1,570
Clearances from Brazil, total
thous. of bags..
564
545
225
729
721
818
1,081
484
1,018
677
902
946
1,117
To United States
do
1,069
1,663
2,044
973
776
2,103
1,804
1,716
1,401
1,237
1,612
1,153
Imports§
do
Price, wholesale, Santos, No. 4 (New York)
.256
.253
.237
.269
.241
.264
.272
.264
.277
.258
.221
.263
.272
dol. perlb_1,132
1,000
1,222
1,385
1,335
1,584
1,056
1,357
2,142
1,931
1,128
1,467
2,080
Visible supply, United States
thous. of bags. .
Fish:
34, 868
47, 716
45, 805
29, 103
15, 365
35, 025
24, 645
17,003
30, 725
53, 727
53, 786
Landings fresh fish, 4 ports
thous. of Ib
90,158
110, 611 " 132, 930
79, 733
97, 939
78, 242
70, 202
149, 549
158, 486
152, 803
135, 870
127, 381
Stocks, cold storage, end of month
__ _ _ d o _ - _
147, 085
Sugar:
Cuban stocks, raw, end of monthj
2,991
3,642
2,109
2,591
1,019
3,292
3,887
373
553
342
712
2,238
" 1, 297
thous. of Span. tons._
United States:
Deliveries and supply (raw value): *
826, 310 " 800, 184
998, 180
740, 720
522, 621
330, 256
624, 282
509, 612
498, 073
482, 194
456, 566
Deliveries, total
short tons ' 529, 047 396, 831
778, 978 " 792, 920
986, 411
484,691
482, 722
730, 790*
" 519, 275
392, 018
475, 921
418, 790
299, 237
598, 188
497, 223
For domestic consumption
do
47, 332
11, 769
" 9, 772
9,930
"7,264
37, 930
15, 351
31, 119
26, 094
12, 389
6,273
37, 776
4,813
For export
do
Production and receipts:
544, 243
465, 489
719, 956
605, 075
335, 229
655, 186
568, 794
605, 349
243, 687
297, 275
233, 063
223, 781
257, 017
Entries from off-shore areas
do
132, 019
34, 590
38, 992
86, 749
22, 114
14, 634
16, 512
49, 365
106, 885
94, 691
483, 532
642, 633
437, 471
Production, cane and beet
-do. ._
Stocks, raw and refined, end of month
1,105
832
1,442
861
1,001
1,384
1,316
1,426
1,598
1,148
1,317
'523
1,210
thous. of short tons..
* Revised. » No quotation. 2 Prices beginning December not strictly comparable with earlier data; comparable figure for November 1946, 0.545.
§ Data continue series shown in the 1942 Supplement but suspended during the war period; unpublished data beginning October 1941 will be shown later.
cf Cold storage stocks of dairy products (p. S-27) meats, poultry, and eggs include stocks owned by the U.S. Dept. of Agriculture and other Government agencies, stocks held for Armed
Forces stored in warehouse space not owned or operated by them and commercial stocks; stocks held in space owned or leased by the Armed Forces are not included.
®See note in May 1946 regarding changes in the indicated series made in that issue and an earlier change beginning June 1944.
• Data are from the U. S. Department of Labor. Quotations since July 1943 have been for U. S. Standards; they are approximately comparable with earlier data for fresh firsts.
1 For data for December 1941-July 1942 see note in November 1943 Survey.
*New series. Data for 1927-43 for dried eggs are on p. 20 of the March 1945 Survey. See note in April 1945 Survey for description of the new sugar series.
tRevised series. The hog-corn ratio has been shown on a revised basis beginning hi the March 1943 Survey; revisions for 1913-41 will be shown later. See p. S-27 of the August 1943 Survey
for 1941-42 revisions for feeder shipments of sheep and lambs and p. 24 of June 1947 issue for 1940-45 revisions for egg production.
SUEVEY OF CURRENT BUSINESS
S-30
Unless otherwise stated, statistics through
1941 and descriptive notes may be found
in the 1942 Supplement to the Survey
November 1947
1947
1946
September
October
November
December
January
February
March
April
May
June
July
August
September
FOODSTUFFS AND TOBACCO—Continued
MISCELLANEOUS FOOD PRODUCTS—Con.
Sugar— Continued
United States— Continued
Exports, refined sugar §
.short tons
Imports: §
Raw sugar, total
do
From Cuba
_
do. _.
Refined sugar, total
do
From Cuba
_. do
Receipts from Hawaii and Puerto Rico:
Raw
- do
Refined
do
Price, refined, granulated, New York:
Retailt
dol. perlb_.
Wholesale
do _ _ _
Tea, imports § . ..thous. oflb_.
TOBACCO
Leaf:
Exports, incl. scrap and stems §
thous. of Ib _
Imports, incl. scrap and stems §
do
Production (crop estimate)
mil. of Ib
Stocks, dealers and manufacturers, total,
end of quarter
do
Domestic:
Cigar leaf
do
Fire-cured and dark air-cured
do
Flue-cured and light air-cured
do
Miscellaneous domestic
.- do __
Foreign grown:
Cigar leaf
-- -.do
Cigarette tobacco _ _ . _
do
Manufactured products:
Consumption (withdrawals):
Cigarettes:
Tax-free*
.millions..
Tax -paid
do
Cigars tax-paid
thousands
Manufactured tobacco and snuff, tax-paid
thous. of lb__
Exports, cigarettes §
millions
Price, wholesale (list price, composite):
Cigarettes, f.o.b., destination
dol. perthous..
Production, manufactured tobacco, total
thous. of lb__
Fine-cut chewing
- ._
._ do._ .
Plug
_
_.
do
Scrap, chewing
do
Smoking
...
do
Snuff
do
Twist
do
22, 546
3,280
6,734
24, 968
22, 095
15, 221
34, 027
10, 956
29, 826
14, 032
11, 660
8 695
126, 958
116, 529
30, 294
30, 294
97, 960
92, 812
35, 099
35, 098
180, 167
180, 167
23, 647
23, 647
210, 784
210, 784
16, 160
16, 160
219, 672
219, 669
15, 913
15, 559
275, 488
275, 487
19, 416
19, 416
313, 067
313, 067
46, 621
46, 618
391, 051
391, 049
52, 956
52, 956
300, 783
300, 782
45, 964
45, 964
360, 344
360, 344
61,226
61, 226
388 185
388, 184
34 940
34, 940
346 484
346, 484
33 889
33, 889
128, 747
4,774
76, 424
1
2,500
5,004
42, 816
2,751
15, 694
3
40, 692
3,802
107, 892
25, 761
136, 667
17, 444
182, 956
23 795
234, 111
3,162
180, 095
16 655
222, 067
10 227
.074
3,846
.092
.076
16, 286
.095
.078
11, 486
.095
.079
12, 891
.096
.080
4,105
.096
.080
11, 498
.096
.081
4,963
.095
.081
2,508
.096
.081
4,826
.095
081
3,202
1,275
54, 383
6,883
94, 129
6,551
60, 861
4,817
22,312
55, 059
30, 930
55. 552
4,912
49, 018
5,632
33, 867
5,192
23, 102
4,848
39, 156
5,624
30, 396
5 592
28, 707
5 258
.076
.067
9,968
50, 322
6,031
0)
2,998
3,282
3,553
327
165
2,389
3
303
159
2,683
3
372
253
2,774
4
26
87
36
97
38
113
.095
082
0 082
3
2 151
3 186
367
242
2 413
38
122
1,944
26, 865
457, 703
2,561
32, 778
588, 067
3,165
27,696
546, 949
2,959
22, 695
465, 769
3,519
28, 451
510, 264
2,713
26, 338
446, 042
3,243
26, 336
426, 785
2,805
27, 493
416 270
2,966
25, 068
473 968
2,269
29,097
432 527
2,333
29 549
439 108
2,528
29 060
466 511
29 204
483 288
21, 671
1,125
25, 631
1,139
22, 728
1,523
17, 636
2,714
20, 124
1,438
17, 389
2,480
18, 743
2,473
19, 716
1,667
16, 111
1,094
18, 792
2,294
21, 008
1 619
22, 184
1 685
24, 706
6.509
6.509
6.255
6.424
6.509
6.509
6.509
6.509
6.509
6.509
6.509
6.509
6.509
21,672
311
4,361
3,860
9,618
3,061
461
25,674
348
4,821
4,627
11, 676
3,640
561
23,236
315
4,096
3,794
11, 266
3,303
462
18, 361
20, 107
17, 712
19, 212
19, 885
16, 473
18, 357
21, 266
1,979
3,081
7,576
3,198
3,001
3,211
8.500
3,007
312
857
4,756
2,913
9 345
2,968
427
296
3,500
3,425
7,410
3,332
398
311
4,380
3,680
7,789
3,447
499
272
3,762
3,327
6,961
2,948
442
248
3,592
3,429
8,310
3,200
434
337
3,762
3,302
8,799
3,246
438
295
344
326
LEATHER AND PRODUCTS
HIDES AND SKINS
Livestock slaughter (see p. S-28).
Imports, total hides and skins §.
__ thous. of lb._
Calf and kip skins
thous. of pieces
Cattle hides
do
Goatskins
_
_._do _ _
Sheep and lamb skins
do
Prices, wholesale (Chicago):
Hides, packers', heavy, native steers, -dol. per lb._
Calfskins packers', 8 to 15 Ib
_
do
LEATHER
Exports: §
Sole leather:
Bends backs and sides
thous. of Ib
Offal, including belting offal
_ _.do
Upper leather
thous. of sq. ft
Production:
Calf and kip
._
thous. of skins
Cattle hide
thous. of hides
Goat and kid
thous of skins
Sheep and lamb
do
Prices, wholesale:
Sole oak bendsf
dol per Ib
Chrome, 'calf, B grade, black, composite
dol. per sq. ft__
LEATHER
16, 788
48
150
1,864
3,738
19, 238
124
140
2,273
2,419
30, 921
59
306
4,454
2,540
25, 229
126
206
3,239
2,157
18, 198
69
118
2,683
1,833
13, 589
31
122
2,113
1,369
10, 771
41
31
2,715
1,052
10, 830
22
29
3,299
1,318
14, 017
35
51
3,039
2,013
11, 991
27
30
4,283
1,386
17, 490
23
38
3,421
5,410
8,523
28
42
3,076
3 806
.155
.218
.155
.218
.289
.435
.276
.414
.238
.396
.231
.475
.228
.625
.220
.514
.223
.534
.231
.638
.262
.660
.295
.619
640
17
834
51
20
1,107
146
5
1,899
71
90
2,512
626
153
3,099
189
225
4,359
358
95
3,906
471
40
3,907
148
59
3,761
169
73
3,183
29
201
2,722
144
245
2 954
832
1,909
1,739
3,702
959
2,052
2,598
4,558
981
2,150
2,304
4,088
1,011
2,184
2,412
3,667
1,104
2,426
2,506
3,388
1,088
2,464
2,849
3, 341
1,066
2,512
2,954
2,943
1,130
2,559
3 038
2,882
1,011
2,472
3 046
2,641
1,049
2,239
3,283
2,472
'887
r
2, 106
f 3 302
2 426
1,069
2 262
2 995
3,095
.447
.447
.784
.753
.691
.659
.565
.565
.869
.902
.950
.958
678
1.017
627
1.015
593
1.007
593
1.069
0.301
.625
602
637
662
1.214
1.218
1.223
MANUFACTURES
Gloves and mittens, production, total*
2,549
2,251
2,103
2,282
2,103
2,086
2,462
2,261
2,286
thous. doz. pairs..
2,089
882
737
576
540
757
628
588
581
510
504
Dress and semi-dress, total
do
153
167
102
97
87
89
145
87
86
Leather
do
89
20
9
8
8
3
3
15
9
4
Leather and fabric combination. _
do
18
445
695
597
470
493
491
566
516
418
412
Fabric
do
1,667
1,675
1,546
1,674
1,882
1,366
1,525
1,476
1,776
Work, total
. . .
do
1,585
119
143
112
95
93
95
95
98
94
Leather
do
103
192
195
197
164
178
205
230
221
175
Leather and fabric combination
do
206
1,072
1, 385
1,327
1,249
1,261
1,374
1,200
1,557
1,461
Fabric
do
1.276
T
Revised. l No quotation. 2 December 1 estimate. 3 September 1 estimate,
t See note in March 1947 Survey with regard to a change in the series in January 1946.
§ Data continue series published in the 1942 Supplement but suspended during the war period; data for October 1941-February 1945 will be published later.
* New series. For source and a description of the series for tax-free withdrawals of cigarettes and data beginning July 1943, see p. S-29 of the March 1947 Survey. The series for gloves and
mittens were first included in the May 1946 Survey; see note in that issue; data are collected quarterly only beginning the third quarter of 1947.
t Revised series. The price for sole oak leather beginning in the October 194
^v is for packers', steers bends, union trim tannery run, vegetable tanning; earlier data will be shown later.
SUKVEY OF CUREENT BUSINESS
November 1947
Unless otherwise stated, statistics through
1941 and descriptive notes may be found
in the 1942 Supplement to the Survey
S-31
1947
1946
October
September
November
December
January
February
March
April
May
July
June
August
September
LEATHER AND PRODUCTS—Continued
LEATHER MANUFACTURES— Continued
Shoes and slippers:
Exports!
thous. of pairs. _
Prices, wholesale, factory:^
Men's black calf oxford.
dol. per pair
Women's plain black kid blucher
do
Production, totall
_
thous. of pairs. _
Shoes, sandals, and play shoes except athletic,
total
thous. of pairs
By type of uppers:
All leather
do .
Part leather and nonleather
do___
By kinds :f
Men'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
342
289
459
691
464
494
537
631
535
414
429
378
5.37
4.26
41, 651
5 37
4.26
47, 469
6.50
4.26
40, 752
6 50
4.90
39, 068
6 25
4.90
41, 051
6 00
4.90
38, 255
6 00
4 90
40, 429
6 00
4 90
39, 525
6 00
4 90
36, 404
6 00
4 90
34, 131
6 30
4 90
* 33, 870
6 50
4 90
38 668
35, 301
39, 368
34, 315
35, 345
38, 049
35, 631
37, 766
36, 627
33, 638
31, 343
r 30, 875
34, 628
30, 022
5,279
34, 194
5,174
30, Oil
4,304
31, 884
3,461
34, 957
3,092
33, 295
2,336
35, 690
2,077
34, 879
1,749
32, 178
1,554
29, 805
1,532
29, 728
1,091
33, 454
1,174
7,963
1,629
19, 037
3,880
2,792
5,681
8,941
1,763
21, 102
4,316
3,246
7,234
8,274
1,625
17, 599
3,958
2,859
5,606
9,012
1,793
17, 429
4,187
2,924
2,915
9,221
1,699
19, 024
4,871
3,234
2,475
8,591
1,533
17, 838
4,706
2,963
2,176
9,121
1,520
18, 991
5,011
3,123
2,146
9,218
1,449
18,237
4,819
2,904
2,364
9,078
1,373
16, 279
4,389
2,519
r
2, 257
8,297
1 495
15,069
4,041
2,441
2,272
330
199
394
302
395
240
397
213
358
169
315
133
357
160
380
154
365
144
301
215
r
6 50
4 90
*• 8, 053
8,425
' 1 521 1 610
14, 768
17 495
«• 3, 985
4,255
2,548
2 840
«• 2, 512
3,466
r
308
371
T
175
206
LUMBER AND MANUFACTURES
LUMBER—ALL TYPES
Exports, total sawmill products§
M bd. ft._
44, 725
15, 331
Sawed timber §
do
Boards, planks, scantlings, etc.§_ _
do
26, 823
Imports, total sawmill products §
do
111, 685
National Lumber Manufacturers Association:!
2,742
Production, total
mil. bd. f t _ 794
Hardwoods
do
1,948
Softwoods
.
do
2,500
Shipments, total
do
583
Hardwoods
do
1,862
Softwoods
do
4,282
Stocks, gross, end of month, total
. . _ do
1,260
Hardwoods _
do
3,022
Softwoods
_
do _
23, 802
4,329
17, 485
131, 669
38, 251
7,183
30, 103
117, 696
81, 976
28, 614
45, 149
123, 816
79, 720
20, 537
54, 377
109, 414
76, 335
22, 656
51, 994
111,718
114, 449
27, 255
75, 676
133, 390
88, 345
16, 610
63, 091
93, 070
162, 633
34,237
101, 014
67, 619
132, 066
21, 353
86, 852
60, 598
138, 692
20, 480
94, 245
73, 073
156, 274
22 692
97, 447
96, 768
2,946
2,533
2,303
2,214
2,403
2,578
2,732
2,938
2,821
2,728
2,996
2 847
2,117
2,727
1,835
2,418
1,699
2,326
1,631
2,414
1,791
2,378
1,955
2,389
2,100
2,560
2,306
2,704
2,182
2,497
2,071
2,538
2,294
2,907
2 159
2 817
1,953
4,540
1,369
3,171
1,785
4,652
1,453
3,199
1,723
4,645
1,474
3,171
1,824
4,323
1,421
2,902
1,780
4,346
1,420
2,926
1,882
4,456
1,427
3,029
2,030
4,537
1,470
3,067
2, 116
4,761
1,463
3,298
1,952
5,266
1,741
3,525
1,956
5,608
1,932
3,676
2,223
5,645
1,899
3,746
2 149
5 708
1,906
3 802
2,550
5,425
2,925
3,375
2,425
3,750
5,700
3,400
3,425
2,200
3,250
5,250
3,475
3,625
1,975
4,350
6,100
3,950
3,700
1,950
3,850
5,550
3,900
4,375
1,650
5,200
7,450
3,875
3,625
1,850
5,825
8,375
4,050
4,400
1,625
5,825
9,500
4,675
4,725
1,500
5,375
10, 175
4,850
4,800
1,500
5,900
11, 375
5,125
4,875
1,775
6,250
12,225
5 575
5,275
2 050
6,500
13, 325
5 550
5,575
1 950
6 075
13 875
5 825
5 475
2 425
22, 851
47, 861
27, 527
27, 331
4,404
29, 212
42, 190
35, 922
34, 882
4,738
29, 245
41, 800
34, 079
33, 065
5,752
29, 194
41, 249
33, 955
31, 248
7,431
41, 521
41, 523
40, 253
41, 247
5,730
33, 893
40, 157
37, 976
37, 733
5,978
42, 075
39, 970
42, 944
42, 260
6,032
41,284
38, 418
47, 361
46, 140
7,016
46,120
43, 122
48, 709
47, 839
7 886
46 653
44, 340
46 985
45 435
8 797
59
58
55
53
9
663
439
629
579
370
57 678
58, 064
57 996
58 126
8 314
53 535
60 195
62 696
60 800
8 045
20, 478
10, 041
10, 453
6,233
2,632
3,601
2,138
1,484
37, 421
20,629
16, 792
44, 931
15, 305
29, 626
36, 872
12, 695
24, 177
65, 073
21, 356
43, 717
38, 948
9,364
29, 584
82, 594
28, 014
54, 580
61, 332
16 583
44, 749
67,128
17 190
49 938
74, 432
19 727
54 705
42. 630
42. 630
43. 855
47. 824
51. 940
58. 800
60. 270
' 62. 865
'62.865
' 62. 865
59. 780
59. 780
59. 780
63. 308
72. 520
85. 505
91. 630
' 95 040 ' 95. 040
11, 716
4,080
7,636
5,317
1,034
4,283
21, 360
4,955
16, 405
15, 885
4,880
11, 005
11, 842
2,007
9,835
20, 159
8,214
11, 945
19, 041
4,441
14, 600
17,511
4 341
13, 170
25, 081
3,623
21, 458
651
642
633
574
565
551
553
544
449
46. 083
46. 083
53. 182
67. 163
71. 656
72. 530
71. 460
67. 790
65. 694
64. 333
64. 468
65. 091
567
65. 091
668
74. 723
589
96. 546
610
106. 782
578
109. 979
686
120. 104
681
130. 683
693
130. 683
726
130. 683
633
130.058
668
0)
655
0)
608
829
698
698
570
604
542
583
590
612
598
623
507
632
530
632
639
588
545
657
582
702
684
688
668
HARDWOOD FLOORING
Maple, beech, and birch:
Orders, new
Orders, unfilled, end of month _ _ __
Production
Shipments
Stocks end of month
Oak:
Orders, new
Orders, unfilled, end of month
Production
Shipments
Stocks end of month
M bd. ft
do. _
do
. do
do
.
do
do
do
do
do
SOFTWOODS
Douglas fir:
Exports, total sawmill products §
M bd. ft.Sawed timber§
-_
do
Boards, planks, scantlings, etc. § ..
do _
Prices, wholesale:
Dimension, No. 1, common, 2" x 4" x 16'
dol. per M bd. ft__
Flooring, B and better, F. G., 1" x 4", R.
L
..
dol. per M bd. ft
Southern pine:
Exports, total sawmill products§.
M bd. ft.Sawed timber§
do
Boards, planks, scantlings, etc.§ —
_do
Orders new!
mil bd ft
Orders, unfilled, end of monthf-..do
Prices, wholesale, composite:
Boards, No. 2 common, I" x 6" or 8" x 12'!
dol. per M b d . f t . Flooring, B and better, F. G., 1" x 4" x 12-14'!
dol. per M bd.ft._
Production!
mil. bd. ft
Shipments!- _
do___
Stocks, end of monthf - do
Western pine:
Orders new!
do
Orders, unfilled, end of month!
do
Price, wholesale, Ponderosa, boards, No. 3 common, 1" x 8"
dol. per M bd. ft__
Production!
mil bd ft
Shipments!
do
Stocks, end of month! ._ _
_ _
do
West coast woods:
Orders, new!
__
do__
Orders, unfilled, end of month
do
Production!
___
__
do
Shipments!
do
Stocks, end of month
_
_._do
r
Revised.
1 No quotation.
593
575
601
610
654
547
556
506
565
588
597
586
600
618
616
631
640
565
660
r
f 62. 865
r 64. 845
67. 815
95 040
r 101 970
r 104 940
111 870
22, 591
3 444
19, 147
21,883
1 952
19, 931
16, 534
2 214
14, 320
494
570
641
634
589
752
676
775
C)
666
626
0)
704
681
1,077
1,135
1,168
1,213
1,194
1,280
1,345
1,398
1,464
1,508
1 500
1,451
1 378
605
283
580
288
489
275
436
269
461
302
385
278
530
353
540
357
449
247
685
389
661
463
673
517
620
542
40.35
632
40.38
625
40.36
491
43.30
394
45.60
329
48.51
346
50.99
420
52.71
534
54.69
653
54.36
645
55.23
684
56.23
691
59.01
654
1,035
1,132
1,205
1,264
567
623
553
438
483
682
671
629
534
702
609
577
573
501
1,092
1,083
448
536
445
538
487
576
534
1,041
468
420
493
462
544
503
484
475
440
1,038
428
939
451
582
618
723
529
544
523
507
577
529
685
598
646
584
595
604
514
461
489
448
576
377
409
876
548
379
455
841
569
410
536
839
586
374
559
933
607
397
543
514
568
603
553
433
587
682
446
618
595
596
580
§ Data continue series published in the 1942 Supplement but suspended during the war period; data for October 1941-February 1946 will be published later.
1 Totals through December 1946 include Government shoes formerly shown separately but not reported separately in 1947; the classifications by kinds were revised in the October 1947
Survey to include all types (leather, part leather, and nonleather uppers); revised data beginning 1944 for these series and additional revisions indicated in note in the September 1917 Survey
will be published later. The totals for shoes, sandals, etc., and the distribution by kinds include, for May to August 1947, minor revisions that are not available for the break-down
between
all leather and part leather and nonleather.
d1 Data continue series published in the July 1944 and earlier issues of the Survey; see note in August 1947 Survey for data for June 1944-May 1946.
! Revised series. See note marked " J" above regarding revision of the shoe series and note in February 1946 Survey explaining revision in the Southern pine price series. There have been
unpublished revisions in the data for the other lumber series as indicated in notes in the July 1947 and April 1946 issues.
SURVEY OF CURRENT BUSINESS
S-32
Unless otherwise stated, statistics through
1941 and descriptive notes may be found
in the 1942 Supplement to the Survey
November 1947
1946
September
October
1947
November
December
January
February
March
April
May
June
July
August
148, 027
143, 295
35, 591
142, 070
141, 491
35, 618
139,623
142, 975
31, 481
107, 574
102, 457
35, 937
r
T
641, 931
10, 160
239,154
3,478
657, 874
18, 175
137, 604
2,184
630, 706
29, 579
113, 588
3,410
571, 913
20,528
141, 308
2,426
566, 429
10 717
126 459
3,917
September
LUMBER AND MANUFACTURES—Continued
SOFTWOOD PLYWOOD
Production*
thous. of sq. ft., Yd' equivalent-Shipments*
do
Stocks, end of month*
do
129, 270
128, 086
35, 560
149, 600
149,583
34, 959
129, 635
128, 691
34, 984
121,816
129, 727
26, 882
140, C58
136, 064
30, 712
129, 622
127, 658
31, 995
139, 779
140, 457
32, 146
139, 369
136, 471
37, 600
r
146, 985
146 701
38, 086
METALS AND MANUFACTURES
IRON AND STEEL
Foreign trade :§
Iron and steel products:
Exports (domestic), total
Scrap
Imports, total
Scrap
.short tons..
do _ _
do
do
362, 608
9,244
124, 453
1,896
293, 451
7,187
110, 767
207
480, 752
16, 258
143, 378
1,159
509, 444
15, 671
102, 686
1,018
549, 138
8,381
137, 556
1,690
481, 24?
4,694
129, 994
1,511
637, 754
9,082
162, 150
3,058
Consumption, total*
_thous. of short tons. _
Home scrap*
do
Purchased scrap*
_
do
Stocks, consumers', end of month, total*
do
Home scrap*
_.
do
Purchased scrap*
_
do
4, 449
2,467
1,982
3, 258
1,192
2,066
4,907
2,705
2,202
3,163
1,184
1,979
4,579
2,535
2,044
2,992
1,121
1,870
.4, 239
2,193
2,046
3,034
1,158
1,876
4,900
2,717
2,183
2,886
1,063
1,823
4,503
2,406
2,097
3,032
1,061
1,971
5,136
2,689
2,447
3,366
1,109
2,257
10, 742
10,546
4,966
9,917
9,965
4,860
6,605
6,830
4,607
2,274
1,193
5,688
2,698
1, 251
7,135
2,591
1,322
8,404
2,846
1, 425
9,825
6,575
7,216
9,212
10, 981
11 755
8,438
11, 643
12, 499
7,582
13, 127
14, 069
6,608
12,819
13 533
5 895
6,380
9,636
37, 573
33 464
4,109
6,625
9,209
40, 435
35, 762
4,674
6,131
6,701
41, 919
37, 063
4,857
5,516
247
7,024
0
6,264
0
6,979
37, 465
33, 056
4,409
30, 514
26, 744
3,770
24, 317
20,938
3,379
^7, 411
14 755
2,656
6,579
4 448
13, 555
11 738
1 816
6, 885
10 373
17 618
15 541
2 078
6,500
11 457
21, 746
19 594
2 152
6,156
12 614
28, 440
25 677
2,764
439
479
576
6 638
12 122
33 896
30 397
3 499
70
69
77
55
76
45
32
66
46
38
56
937
541
2,897
1,078
626
2,953
987
562
2,940
909
514
2,980
1,078
1,010
583
2,987
1,090
634
2,979
1 097
637
2,908
1 097
633
2,783
1 038
3,021
44, 369
277, 309
69, 507
39, 631
50, 140
280, 972
79, 207
46, 477
36, 802
278, 446
68, 987
39, 328
28, 542
267, 661
68, 314
39, 327
34, 517
259, 764
75, 898
42, 414
55, 938
274, 018
74, 716
41 684
50, 194
280, 724
76, 614
43 488
41, 994
275, 415
81, 890
47 303
28, 996
262 117
75 478
42 294
4,571
4,812
4,424
3,888
5,037
4,467
5,015
28.00
28.73
28.50
4,687
28.00
28.73
28.50
4,815
28.00
28.73
28.50
4,435
29.60
30.12
30.50
3,992
30 00
30.86
30.50
5, 087
30 00
30.86
30.50
4 550
33 00
33 55
33.50
5 123
33 00
33 81
33.50
4,830
830
881
687
668
674
735
777
._ short tons
do
do ...
126, 471
90, 567
25, 910
137, 304
98, 265
25, 619
130, 606
93, 878
27, 425
123, 907
88, 136
22, 108
139, 029
101, 140
28,699
125, 612
92, 822
28, 212
134, 909
99 701
27, 125
do ..
do
do
670, 523
543, 831
126, 692
101, 987
72, 136
29, 851
736, 482
603, 833
132, 649
118, 697
82, 796
35, 901
726, 733
595, 359
131, 374
108, 112
73, 124
34, 988
707, 060
579, 778
127 282
110, 346
75 360
34, 986
723, 158
591, 558
131 600
„ 116, 074
79 061
37, 013
713, 909
581, 337
132 572
111, 004
78 560
32 444
717, 428
586 992
130 436
115, 456
83 743
31, 713
6,556
87
6,952
89
6,458
85
5,761
7 213
6 422
7 307
.0305
.0305
.0305
.0312
.0329
.0329
.0329
.0329
.0329
39.00
.0235
18.75
39.00
.0235
18.75
39.00
.0235
23.13
39.00
.0235
27.25
42.00
.0250
29.75
42.00
.0250
31. 63
42.00
.0250
36. 69
42.00
.0250
33. 05
42.00
.0250
29 25
Iron and Steel Scrap
Ore
Iron ore:
All districts:*
Production
thous. of long tons _
Shipments
do
Stocks, end of month
_ __.do
Lake Superior district:
Consumption by furnaces
do
Shipments from upper lake ports
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..
402
386
329
237
223
198
o
229
263
6
10
38
34
4
492
685
370
065
305
597
44
Pig Iron and Iron Manufactures
Castings, gray iron:*
Shipments, total
thous. of short tons
For sale
.
do .
Unfilled orders for sale.do
Castings, malleable iron:d*
Orders, new, for sale
short tons..
Orders, unfilled, for sale
- do
Shipments, total
do
For sale
do
Pig iron:
Consumption*
thous. of short tons..
Prices, wholesale:
Basic (furnace)
dol. per long ton
Composite
_.
do
Foundry, No. 2, f. o. b. Neville Island*.. do
Production*
thous. of short tons
Stocks (consumers and suppliers'), end of month*
thous. of short tons_.
633
597
r
913
519
952
551
1 025
591
2, 675
2,631
2 680
31, 972
248 798
78, 524
45 291
26, 591
234 656
64, 162
40,733
33, 244
229 735
62 404
38 165
31,379
220 976
71 568
40 138
33 00
33 81
33.50
5 081
33 00
33 81
33.50
4 810
34 20
35 08
34.70
4,585
36 00
37 21
36.50
4 917
36 00
37 21
36.50
4 gQi
144 175
106 127
29 185
140 874
103 779
28 850
139 031
103 888
3l' 879
116, 956
85 014
21, 280
120 405
88 719
22,584
137 457
102 913
32 967
698
570
128
121
90
31
662
544
118
115
85
30
633 467
519 760
113 707
lio' 446
80 761
29 685
630, 925
529 817
101 108
92, 352
70 316
22, 036
626
526
99
98
69
28
617
518
98
108
79
29
2,711
Steel, Crude and Semimanufactures
Steel castings:!
Shipments, total
For sale, total.
Railway specialties
Steel forgings, for sale:*
Orders, unfilled, total
Drop and upset
Prfis«? and open hammer
Shipments, 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^
Prices, wholesale:
Composite, finished steel
dol. per lb__
Steel billets, rerolling (Pittsburgh)
dol. per long ton. _
Structural steel (Pittsburgh)
dol. per lb._
Steel scrap (Chicago)
dol. per long ton._
r
74
93
92
94
615
130
485
475
076
399
7 043
94
579
058
521
743
729
014
7 329
95
6 969
6 570
227
392
835
009
639
370
r Q 982
247
261
986
804
219
585
6 775
85
90
.0329
.0329
.0360
.0360
42.00
.0250
30 88
42.60
. 0256
36. 95
45.00
.0280
39 88
58 7R
93
91
45.00
.0280
Revised.
cfSince May 1944 the coverage of the malleable iron castings industry has been virtually complete; see note in the February 1947 Survey for further information.
§Data continue series shown in the 1942 Supplement but suspended during the war period (it should be noted that data for iron and steel are shown in long tons in that volume)- data for
October 1941-February 1945 will be published later.
JFor 1947, percent of capacity is calculated on annual capacity as of Jan. 1,1947, of 91,241,000 tons of steel; 1946 data are based on capacity as of Jan. 1, 1946, 91,891,000 tons.
*New series. For data beginning September 1941 for softwood plywood see p. 16 of the September 1944 Survey. For description of the series on scrap iron and steel and 1939-40 data, see
note marked "*" on p. S-29 of the November 1942 Survey. The series for iron ore, all districts, are from the Department of the Interior, Bureau of Mines, and cover the entire industry, monthly
data beginning 1943 and earlier annual totals will be shown later. Data for 1943-45 for gray iron castings are shown on p. 24 of the January 1947 Survey. For pig iron consumption and stocks
for 1939-40 and a description of the series, see note marked "*" on p. S-29 of the November 1942 Survey. The series on pig iron production is approximately comparable with data in the 1942
Supplement (data in that volume are in short tons instead of long tons as indicated); see p. S-30 of the May 1943 Survey for further information and data for 1941-42. The pig iron price series
replaces the Pittsburgh price shown in the Survey prior to the April 1943 issue. For 1945 data for steel forgings see note on p. S-32 of the March 1947 Survey; data for total shipments, including
shipments for own use, and steel consumed have been discontinued.
fBevised series. Data for steel castings are estimated industry totals; see note on p. S-32 of the July 1946 Survey for comparable figures beginning January 1945.
SUKVEY OF CURRENT BUSINESS
November 1947
Unless otherwise stated, statistics through
1941 and descriptive notes may be found
in the 1942 Supplement to the Survey
S-33
1946
September
October
1947
November
December
January
February
March
April
May
June
July
August
September
METALS AND MANUFACTURES— Continued
IRON AND STEEL— Continued
Steel, Manufactured Products
Barrels and drums, steel, heavy types:®
Orders, unfilled, end of month
thousands..
Production
do _ .
Shipments
..do
Stocks end of month
do
Boilers, steel, new orders: t
Area
thous. of sq. ft
Quantity
number
Cans, metal (in terms of steel consumed):*
Shipments (for sale and own use), 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..
Merchant bars
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. _
12, 202
2,039
2,036
30
13, 071
2,354
2,351
33
13, 612
2,198
2,213
19
15, 014
2,091
2.093
17
15, 501
2,327
2,317
27
15, 867
2,064
2,066
25
14, 976
2,291
2,292
25
14, 542
2,455
2,455
25
14, 370
2,303
2,306
21
13, 612
2,244
2,242
23
1,646
1,682
1,973
1,890
1,453
1,441
1,452
1,462
1,414
1,392
1,343
1,265
1,421
1,348
1,378
1,337
1,428
1,212
1, 925
1,346
318, 304
282, 075
36, 229
277, 829
1,340
25, 159
258, 763
215, 247
43, 516
222, 307
1,574
28, 901
192, 134
151, 882
40, 252
161,951
1,401
25, 196
4,590
452
446
397
199
1,076
115
137
347
244
365
5,261
549
498
467
226
1,233
133
158
387
253
410
5,020
507
482
466
210
1,220
132
144
356
248
391
4,533
460
418
386
174
1,081
123
135
310
265
392
5,063
525
467
468
227
1,202
126
146
362
248
420
4,626
474
428
445
191
1,093
116
136
334
229
364
5,304
558
502
527
181
1,275
132
144
390
293
396
5,446
549
518
555
206
1,274
141
151
392
318
425
5,442
561
535
579
204
1,274
142
150
382
305
425
95, 038
29, 811
93, 752
113, 445
108, 795
166, 616
157, 437
129, 133
.0575
.0575
.0682
.0775
.0775
.0755
.0725
.0719
148.7
34.6
114.2
91.9
.237
181.8
43.0
138.8
110.1
.237
163.1
38.2
124.9
99.5
.259
156.9
37.5
119.4
92.7
.275
167.0
40.7
126.3
96.3
.275
161.7
37.8
123.9
96.6
.275
158.6
42.3
116.4
91.0
.289
5,386
25, 182
2,656
22, 526
19,315
3,211
.1415
2,131
32, 503
1,225
31, 278
23, 929
7,349
.1415
10, 564
33, 182
6,809
26, 373
12,933
13, 440
.1704
14, 168
45, 431
9,298
36, 133
23, 625
12, 508
.1928
14, 921
26, 261
12, 340
13, 921
9,715
4,206
.1927
11,018
26, 114
8,784
17, 330
7,805
9,525
.1935
13, 462
26, 291
6,944
19, 347
12, 158
7,189
.2091
69, 748
67, 803
113,158
98,619
72, 807
77, 947
136, 481
91, 161
73, 024
75, 066
129, 206
90, 896
78, 674
77, 578
141,218
80, 832
78, 256
80, 144
143, 692
76, 680
74, 474
77, 591
117, 734
74, 645
12, 340
2,208
2,212
22
11, 294
2,185
2,176
31
r 1, 564
1,426
1,453
1,250
1,418
309, 659
235, 856
73, 803
275, 571
781
27, 377
387, 001
314, 196
72, 805
343, 453
890
27, 229
949
30,019
5,264
501
527
563
205
1,225
138
141
364
308
407
4,975
493
480
464
199
1,181
116
131
357
324
335
5,278
534
517
540
190
1,199
136
135
371
336
393
5,119
484
497
495
182
1,224
136
142
360
304
410
189, 615
173, 706
181, 999
164, 098
.0667
.0444
.0440
.0600
.0617
152.3
41.7
110.7
83.3
.289
144.1
37.4
106.7
81.6
.293
124.8
33.0
91.8
70.5
.300
121.7
30.2
91.5
72.2
.296
132.2
30.4
101.7
82.4
.296
155.1
35.9
119.2
97.9
.296
11,721
23, 203
7,989
15,215
9,755
5,460
.2123
14, 020
40, 138
3,233
36, 905
25, 099
11, 806
.2211
17, 254
52, 527
4,115
48, 412
32, 993
15,419
.2135
14, 569
37, 524
3,519
34, 005
18, 796
15, 209
.2123
21, 606
44, 185
2,492
41, 693
24, 679
17,014
.2123
.2123
91, 203
82, 308
108, 464
103, 448
118, 048 1 116, 652
82, 542
«• 84, 560
79, 135
94, 605
109,817
77, 773
'83,307
88, 052
96, 304
T
77, 212
83, 784
92, 088
95, 582
80,113
13, 030
21, 099
198, 406 '174,900 ' 157, 765 r 179, 924 ' 204, 678 ' 207, 208 ' 232, 612
157, 030
125, 683 139, 536 r 145, 830
168, 249
129, 914
111, 154
41, 376 ' 44, 986 '46,611 r 54, 241 ' 65, 142
61,378 ' 64, 363
167, 637 r 138, 213 ' 123, 768 ' 142, 661 r 160, 107 r 165, 085 ' 193, 275
1,323
1,154
1,174
1,426
845
1,083
984
24, 307
24, 136
24, 261
27, 603
27, 219
26, 265
25, 058
' 13, 255
2,188
2,185
26
r
1, 625
NONFERROUS METALS AND PRODUCTS
Aluminum:
Imports, bauxite§
_ _ . _ long tons.
Price, wholesale, scrap castings (N. Y.)
dol. per lb__
Aluminum fabricated products, shipments, total*
mil. of lb_.
Castings*
do.. _
Wrought products total*
do
Plate, sheet, and strip*
do
Brass sheets, wholesale price, mill
dol. per lb__
Copper:
Exports, refined and manufactures §..- short tons._
Imports, total§
__.do
For smelting, refining, and export§
do. _
For domestic consumption, total§_
do
Unrefined, including scrap § . . _ _.do
Refined §
do
Price, wholesale, electrolytic (N. Y.)..dol. per lb._
Production:^
Mine or smelter (including custom intake)
short tons..
Refinery
do
Deliveries, refined, domesticd1
do
Stocks, refined, end of month c f _ _
..do. .
Lead:
Imports, total, except mfrs. (lead content) §.do
Ore (lead content):
Mine production*
do
Receipts by smelters, domestic ore:cf
do
Refined:
Price, wholesale, pig, desilverized (New York)
dol. per lb__
Production, total <_T
--short tons
Primary t
do
Shipments^
- ___
do
Stocks, end of month cf
do.
Tin:
Im ports :§
Ore (tin content)
long tons..
Bars, blocks, pigs, etc
do
Price, wholesale, straits (N. Y.)
dol. perlb__
Zinc:
Imports, total (zinc content)§
short tons..
For smelting, refining, and export§
do_ ..
For domestic consumption: §
Ore (zinc content) _
do ._
Blocks, pigs, etc
_
._ _ _ _ _ _ _ _ do .
Mine production of recoverable zinc*
do
Slab zinc:
Price, wholesale, prime Western (St. Louis)
dol. per lb__
Productiond1
short tons
Shipments^.1
.. _ . d o _ _ _
Domesticd
do
Stocks, end of monthcf
do
9,477
19, 295
8,345
27, 250
28, 054
»• 26, 198
27, 324
r 28, 860
26, 180
' 30, 329
31, 307
.0825
40, 720
39,012
34, 047
40, 944
.0825
43, 062
41,217
41, 008
42, 992
.1044
40, 041
38, 287
34, 764
48, 262
.1219
40, 448
38, 943
40, 613
48, 088
.1293
45, 629
42, 506
44, 888
48, 826
153
581
.5200
783
2,462
.5200
4,904
1, 195
.6452
415
1,991
.7000
25, 424
3,637
14, 425
742
27, 331
5,441
32, 041
3,624
17, 242
8,899
4,545
4,784
' 49, 030 * 52, 191
15, 278
6,612
r 50, 574
18, 608
9,809
' 52, 126
r
24, 427
21, 105
T
r
84, 356 i 88, 927
87, 141 i 104,430
120, 820 1115,379
71, 507
185,293
18, 898
18, 585
18, 113
31, 771
36, 328
r 32, 359
37, 581
' 32, 052
34, 269
.1318
44, 053
41,210
49, 638
43, 233
.1496
51, 239
46, 699
52, 465
41, 990
.1500
53, 424
48, 995
50, 568
44, 834
3,011
1,285
.7000
1,774
419
.7000
0
60
.7000
48, 627
5,441
57, 396
22, 482
25, 753
5,842
29, 896
13, 289
55, 075
29, 275
5,639
r 51, 296
31, 586
30, 907
12, 405
r
30, 067
32, 157
r
r
12, 823
7,088
55, 314
r
23, 058
r
31, 935
33, 688
' 28, 766. ' 29, 788
31, 877
32, 271
.1500
53, 822
49, 984
50, 482
47, 233
.1500
45, 235
41, 505
54, 627
37, 836
.1500
46, 012
42, 536
' 51, 989
31, 290
.1500
46, 409
43, 725
46, 646
31, 048
.1500
46, 827
43,545
43, 483
34, 385
3,937
33
.8000
1,409
54
.8000
694
443
.8000
2,596
3,406
.8000
8, 350
2, 105
.8000
.8000
43, 935
10, 082
33, 582
6,367
43, 135
11, 534
50, 055
9,025
37, 794
8,430
28, 930
4,923
20, 306
6,909
r 57, 791
57, 237
r
26, 762
4,839
60, 596
r
35, 431
5,599
47, 565
r
26, 272
3,092
48, 521
.0825
.0887
.1012
.1050
.1050
.1050
.1050
.1050
.1050
.1050
.1050
.1050
.1050
58, 475
64, 138
66, 873
70, 176
72, 332
65, 198
75, 376
73, 891
73, 970
70, 990
69, 128
66, 852
67, 843
65, 927
73, 915
91, 429
90, 204
74, 795
72, 243
76, 074
75, 788
70, 803
63, 527
59, 737
59, 653
63, 500
71, 667
60, 130
75, 781
77, 904
67, 211
65, 356
67, 325
61, 715
58, 827
52, 390
44, 801
52, 132
50, 532
230. 161 220. 384
195. 828
175. 800
173. 337
162. 461
162 049
163.697
1fifi 8fU
174 297
1«2 71 « IQn Q17
1QK 9AO
r
Revised. ® Beginning 1943, data have covered the entire industry. i See note marked "<?".
Jit is believed that data beginning 1945 represent substantially the entire industry; in prewar years the coverage was about 90 percent.
OTotal shipments less shipments to members of the industry for further conversion; data prior to 1944 were production for sale.
§Data continue series published in the 1942 Supplement but suspended during the war period; data for October 1941-February 1945 will be published later.
(^Beginning April 1947 data for copper include copper from all sources; earlier data relate to domestic and duty-free foreign copper except that deliveries included deliveries of duty-paid
foreign copper for domestic consumption; stock figure for April 1,1947, comparable with later data, is 80,522 tons. For data for January 1942-April 1944 for these series, and also for the indicated
lead and zinc series, see p. 24 of the June 1944 Survey. Total shipments of zinc include for September 1946 and August and September 1947 shipments for Government account in addition to
shipments to domestic consumers and export and drawback shipments.
*New series. See note marked "*" on p. S-33 of the February 1947 Survey for description of the data on aluminum fabricated products and reference to 1945 figures for the total; data prior
to 1946 for the detail will be published later. Data for closures, crowns, and metal cans are compiled by the Bureau of the Census and cover all producers; data prior to 1946 will be shown
later. Data for mine production of lead and zinc are from the Department of the Interior, Bureau of Mines, and are practically complete; monthly figures beginning July 1941 and earlier
annual totals will be shown later.
tRevised series. Data shown above and data from the beginning of 1946 in earlier issues include production from both domestic and foreign ore; the 1946-47 data have heretofore been
incorrectly shown as production from domestic ore which is no longer reported separately. Some secondary material is included insofar as it enters into base bullion and loses its indentity.
SUEVEY OF CURRENT BUSINESS
S-34
Unless otherwise stated, statistics through
1941 and descriptive notes may be found
in the 1942 Supplement to the Survey
November 1947
1946
September
October
1947
November
December
January
February
March
April
May
June
July
August
September
METALS AND MANUFACTURES—Continued
HEATING APPARATUS, EXCEPT ELECTRIC
Boilers, radiators and convectors, cast iron:§
Boilers (round and square) :
Production
thous oflb
Shipments _ . _ _ - _ .
do
Stocks, end of month
do
Radiation:
Production
thous of sq ft
Shipments,
_do _
Stocks
do
Boilers, range, shipments* _ _ . _ . number _
Oil burners:*
Orders, new, net
do
Orders, unfilled, end of month
do
Shipments
do
Stocks end of month
do
Stoves and ranges, domestic cooking, exc. electric:*
Production, total
_____
_ _ _ number
Coal and wood
do
Gas (incl. bungalow and combination) do
Kerosene, gasoline, and fuel oil
_
_do
Stoves, domestic heating, production, total* do
Coal a n d 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
r
r
r
25, 713
27, 021
39, 769
30, 066
32, 243
37, 591
28, 451
30, 954
35, 088
19, 856
23, 694
32, 173
27, 982
24, 294
35, 861
26, 003
23, 782
38, 082
29, 452
26, 073
41, 461
28, 849
25, 326
44, 984
29, 528
23, 185
51, 327
25 838
26, 342
50, 824
20, 506
21,045
50, 285
3,494
3,764
3, 151
99, 026
4, 523
4,858
2,816
107, 025
4,321
4,369
2,768
93, 137
3,250
4,286
1,732
81, 608
4,619
4,065
2,256
78, 400
4,168
4,200
2,254
60, 821
4,862
4,441
2,675
67, 140
4,820
4,597
2,899
66, 597
4,984
4,746
3,137
64, 415
4,472
4,698
2, 909
55, 220
4,302
4,032
3,179
48, 454
81, 888
931,853
57, 339
5, 198
99, 009
956, 966
73, 896
6,407
11,795
118,308
105, 689
86, 196
87, 872
990, 350 1, 002, 380 1,008,813 1, 045, 876 1, 077, 832
96, 694
72, 305
74, 166
81, 439
81, 245
7,039
14, 745
11, 903
7,588
10, 487
-10,338
968, 114
99, 380
13, 337
5,959
874, 902
99, 171
15,392
34, 963
804, 608
105, 257
18, 924
1, 650
703, 704
102, 554
22, 657
85, 231
666, 254
122,681
20, 276
249, 542
34, 142
169, 929
45, 471
377, 803
146, 901
116, 405
114, 497
296, 874
42, 232
204, 190
50, 452
528, 984
206, 873
155, 945
166, 166
254, 261
33, 175
172, 054
49, 032
466, 854
163, 115
151, 271
152, 468
226, 291
31, 701
153, 972
40,618
457, 360
151, 979
162, 518
142, 863
r 299, 947
39,317
r 203, 268
57, 362
467, 577
131,053
160, 936
175, 588
281, 510
40, 411
188, 387
52, 712
360, 150
89, 049
139, 879
131,222
305, 406
46, 175
203, 631
55, 600
388, 957
97, 264
159, 496
132, 197
313, 694
49, 288
210, 406
54, 000
416, 216
95, 063
175, 282
145, 871
288, 178 ' 287, 697 r 256, 785
44. 814
39, 373 * 36, 126
193, 684 r 202, 954 r 179,647
49, 680
45, 370
41, 012
412,517
446, 533 T 477, 651
92, 349
90, 728 '"103,459
157, 716
175, 940
186,412
162, 452
179, 865 r 187, 780
259, 863
36, 945
186 231
36, 687
561,029
109, 044
220, 856
231,129
72, 303
23, 163
9,112
40, 028
216, 981
83, 502
27, 545
9,537
46, 420
275, 173
89, 005
29, 089
12, 296
47, 620
263, 199
78, 167
26, 292
14, 385
37, 490
256, 786
76, 537
28, 954
14, 980
32, 603
293, 315
66, 308
23, 944
17, 552
24, 812
270, 843
60, 196
14, 562
22, 683
22, 951
282, 408
55, 297
14, 209
22, 050
19, 038
244, 626
54, 864
9,876
24, 631
20, 357
210, 487
54, 985
9, 669
25, 128
20, 188
192, 372
25 175
28, 469
46, 991
r
r
T
4 073
4, 540
2,712
52, 967
29, 080
30, 464
45, 607
4 749
4,786
2 675
' 56, 498 80, 899
9,569
13 563
' 21, 757 32, 480
25 172
34
856
r
197, 485
217, 505
MACHINERY AND APPARATUS
Blowers, fans and unit heaters:
Blowers and fans new orders
thous of dol
Unit heater group new orders
do
Foundry equipment:
New orders, net, total
1937-39=100__
New equipment
do
Repairs
.. _
.
do
Machine tools, shipments*
thous. of dol__
Mechanical stokers, sales:*
Classes 1, 2, and 3
number__
Classes 4 and 5:
Number
Horsepower
__ _ _ _ _
Pumps and water systems, domestic, shipments:*
Domestic hand and windmill pumps, _ .number. _
Water systems, including pumps, total _ _ d o _ _
Jet*
do
Nonjet*
_ _ do
Pumps, steam, power, centrifugal and rotary, new
orders
thous. of dol
Scales and balances (except laboratory), shipments,
quarterly*
thous of dol
Sewing machines, heads, production:*
Industrial
_ _ number
14, 953
7,216
15, 292
10, 113
17 382
10, 193
10 054
6,522
424.4
415.4
453.5
25, 468
469.2
407.1
672.0
29, 140
477.4
421.0
661.5
26, 176
430.9
379.0
600.3
27, 587
513.4
466.9
665.0
26, 542
521.9
472.5
682.9
26, 765
573.8
532.3
709.5
29, 012
512.1
445.9
727.9
26, 857
548.6
525.9
623. 0
25, 791
649.9
658.9
620.7
24, 383
458.7
426 1
565.3
18, 924
468.9
411 3
656.8
18, 520
455.1
393 1
657.7
22, 520
19, 437
17, 269
14, 946
7,594
4,282
2,306
3,598
4,061
5,281
5,851
7,092
9,041
9,863
450
63, 055
454
78, 454
357
58, 495
339
49, 903
215
54, 852
177
52, 705
280
56, 661
174
57, 563
170
52, 981
270
63,168
380
81, 269
398
97, 752
345
80, 640
24, 082
55, 485
26, 737
28, 748
30, 552
68, 289
34, 728
33, 561
28, 917
57, 986
30, 103
27, 883
23, 434
62,319
34, 141
28, 178
26, 737
59, 545
31, 125
28, 420
28, 310
64, 455
33, 930
30, 525
36, 261
62, 586
32, 773
29, 813
36, 578
70, 792
35, 671
35, 121
38, 745
61,045
29, 173
31, 872
36, 946
54, 300
21, 564
32, 736
23, 561
56, 183
26,015
30, 168
21, 101
82, 660
28, 150
' 33, 409
26,618
89, 726
28, 579
34, 529
3,223
3,581
3,260
3,035
3,428
3,506
3,464
3,638
2,973
2,999
3,148
3,843
3, 355
9,864
7,751
9,695
12, 760
10, 832
10, 764
10, 089
12, 506
11,368
11, 687
r
11,612
14, 002
11,835
11, 575
ELECTRICAL EQUIPMENT
Battery shipments (automotive replacement only),
1,868
1,798
1,213
1,601
1,873
1,355
1,150
1,509
1,318
1,737
number*
thousands
1,433
2,073
2 404
Domestic electrical appliances, shipments:
341, 360
279, 219
327, 528
272, 949
330, 675
266, 062
268, 432
265, 790
343, 229
223, 039
293, 465
296, 570
Vacuum cleaners, total*
number
347, 601
321, 515
272, 927
265, 364
330, 426
259, 153
260, 572
318, 094
258, 892
329, 986
216, 219
Floor
do
280, 585
279 237
328 630
6,292
6,013
7,585
10, 934
6,909
7,860
12, 581
6,898
6,820
13, 243
Hand_ do
1 2, 880
17,333
18,971
290, 397
190, 770
255,611
320, 969
247, 816
216, 634
313, 724
259, 233
184, 215
314, 705
Washers*
do
279, 229
354, 094
281,826
Electrical products:!
405
373
351
331
337
405
294
388
361
••352
Insulating materials, sales billed
1936—100
324
320
459
493
394
468
Motors and generators new orders
do
Furnaces, electric, industrial, sales:
6,514
3,615
8,854
4,869
5,060
4,227
7,528
3,586
8,240
Unit
kilowatts
3,341
5 298
4 464
551
322
476
1,079
714
647
600
789
389
308
Value
thous. of dol_
565
432
4,074
4,859
4,168
4,471
4,328
4,687
4,092
3, 761
4,550
Laminated fiber products shipments
do
4,150
4,002
3,619
4 150
Motors (1-200 h. p.):cf
29, 589
8,621
8,437
9,861
7 871
Polyphase induction billings
do
32 668
13,875
38, 332
14, 756
11, 962
13, 808
31 849
Polyphase induction new orders
do
1,825
4,359
1,344
1,222
1,011
4,821
Direct current billings
do
5,318
2,204
1,215
3, 620
1,741
5 155
Direct current new orders
do
Rigid steel conduit and fittings, shipments!
20,088
24, 252
20, 742
20, 533
18, 757
21, 110
22, 141
18, 297
18, 683
short tons__
22, 218
20, 821
19, 745
23, 638
Vulcanized fiber:
4,741
4,241
4,598
5,004
4,488
4,824
5,059
4,125
5,086
5, 124
4,771
Consumption of fiber paper
thous. of Ib
4 582
4 820
1,744
1,757
1,791
1,765
1,640
1,701
1,942
1,758
1,330
1.625
1.559
ShiDments
thous. of doL1.425
1. 599
' Revised.
i Cancellations exceeded new orders.
§See p. 24 of the January 1947 Survey for available data for 1942-45 for cast-iron boilers and radiation; these series continue data published in the 1942 Supplement.
•See notes on the indicated items on p. S- 33 or S-34 of the September 1947 Survey for source and coverage of data for vacuum cleaners and coverage of the data for oil burners, mechanical
stokers, and pumps and water systems. Data for washers are from the American Washer and Ironer Manufacturers' Association and beginning January 1947, are estimated industry totals
based on reports representing around 92 percent of the total; earlier data cover only companies reporting to the Association; comparison with total industry shipments compiled by the Bureau
of the Census for January-September 1946 indicates that data for this period represented about 97 percent of the industry; information is not available at present on the coverage of data for the
latter part of 1946.
c?Beginning 1947 data for motors are collected quarterly and data shown are quarterly totals; the 1947 data for polyphase induction motors include 6-7 companies and for direct current
motors 2-3 companies which did not report prior to 1947; information regarding the effect of these additions on the comparability of the data is not available at present.
*New series. Data for range boilers, stoves and ranges, warm-air furnaces, water heaters, sewing machines and scales and balances are compiled by the Bureau of the Census and are complete, or practically complete; data for 1943-45 for domestic heating stoves are shown on p. 20 of the April 1947 Survey; data prior to 1946 for the other series will be shown later (data beginning
March 1944 for total shipments of warm-air furnaces are available in the May 1945 Survey). For source of data on machine tool shipments and reference for 1940-42 data, see note on p. S-34 of
February 1947 Survey and for data beginning August 1942 for automotive replacement battery shipments, see p. S-31 of November 1943 Survey.
fRevised series. See note in February 1947 Survey regarding unpublished revisions in the indexes of new orders for motors and generators and sales of insulating materials; the index for
motors and generators is now computed on a quarterly basis and represent quarterly totals. Data on rigid steel conduit and fittings were revised in the July 1946 Survey (see note in that issue).
SURVEY OF CURRENT BUSINESS
November 1947
S-35
1946
1941 and descriptive notes may be found
in the 1942 Supplement to the Survey
September
October
1947
November
December
January
February
March
April
May
June
July
August
September
PAPER AND PRINTING
PULP WOOD AND WASTE PAPER
Pulpwood:*
1, 503
Consumption
thous. of cords (128 cu. ft.)_
1,821
Receipts total
_ _ _ _ _ _ do _
3,956
Stocks end of month
do
Waste paper:*
Consumption
short tons. . 607, 231
604, 136
Receipts
-- do ._
453, 896
Stocks
do
1,628
1,705
4,034
1,585
1, 382
3,818
680, 047
707, 738
481, 398
636, 387
464, 676
651,974
1,473
1,438
3,780
1,666
1,709
3,814
1,523
1,861
4,153
1,702
1,819
4, 255
1,647
1, 430
4,035
3,767
596, 247
634. 491
515, 361
678, 241
657, 165
492, 702
620, 667
587, 481
458, 826
684, 637
667, 975
435, 411
668, 727
711, 509
475, 915
693, 879
697, 152
473, 917
1,714
1,465
1,634
1,683
3,816
1, 559
1,901
4,161
648, 768
656, 684
607, 061
615, 155
482, 392
481,911
' 1,675
' 1,958
' 4, 437
r
650, 690
'629,114
' 462, 248
1,579
1,903
4,741
638, 586
642, 155
465, 012
WOOD PULP
4,334
2,302
6,475
1,947
2,737
9,534
13, 140
14, 161
11,928
7,951
7,244
13, 358
Exports all grades total §
do
133, 141
152, 707
135, 001
136, 428
167, 977
141,995
160, 791
148,921
175, 067
225, 807
275, 187
Imports, all grades, total §
do
227, 246
7,562
6,348
7,818
9,271
15, 537
14, 132
13, 402
Bleached sulphate §
-- do
20, 567
19, 988
20, 133
17, 008
28, 527
29, 292
32, 893
28, 051
20, 735
38, 921
26, 615
17, 872
21, 673
28, 669
Unbleached sulphate §
do__
53, 044
75, 965
46, 816
28, 104
31,113
35, 297
26, 938
39, 661
39, 610
38, 318
43, 417
Bleached sulphite §
_ _ _ _ do_ _
40, 330
48, 678
45, 672
53, 098
49, 822
62, 459
51, 986
50, 636
53, 075
54, 596
48, 190
44, 022
59, 488
75, 229
84, 872
Unbleached sulphite §
do
89, 065
1,556
1,410
1,070
1,770
1,318
1,699
1,597
1,621
1,592
1,719
1,692
1,804
Soda§
do
14, 418
20, 871
19, 138
18,719
19, 465
20, 594
24, 786
18, 996
25, 000
27, 004
Ground wood §
- - do
30, 921
26,993
Production:!
981
'874
947
887
998
Total all grades
thous. of short tons. _
913
1,013
985
1,040
995
935
' 1, 026
964
79,811
75, 135
77, 472
87, 764
89, 792
Bleached sulphate
short tons _ ' 77, 021
79, 766
87, 175
92, 484
92, 058
90, 141
'98,415
92, 335
304, 130
354, 293
336, 697
321, 127
350, 101
337, 047
Unbleached sulphate
_ _ _ _ do __ '314,031 343, 457
366, 873
354, 853
331, 275 ' 356, 355 333, 030
135, 185 ' 152, 654 144, 605
141,358 159, 571 146, 907
162, 270
160, 223
164, 791
142, 436
Bleached sulphite
do
152, 426
161, 922
154, 988
75, 732
64, 407
71,711
74, 131
67, 047
75, 060
73, 967
68, 901
79, 133
Unbleached sulphite
do
64, 268
73, 518
76, 291
74, 719
38, 947
42, 010
39, 154
40, 717
42, 343
42, 092
41, 655
43, 324
S»da
do
37, 696
41, 696
38, 345
40, 881
40, 182
170, 198
168, 663
175, 268
158, 860
180, 184
179, 324
184, 506
173, 802
Groundwood
- do_ _ _ 143, 340
160, 507 ' 170, 080 161, 449
160,178
58, 173
63, 504
58, 477
56, 193
62, 782
63, 988
Defibrated exploded, etc.*
do
55, 206
63, 956
67, 096
62, 000
64, 664
66, 877
63, 000
Stocks, end of month:!
' 73, 001
72, 432
76, 590
70, 609
79, 694
74, 887
74, 465
83, 786
95, 771
Total all grades
do
96, 601 ' 99, 834
103, 598
94, 402
7,589
7,193
6,218
6,836
7,542
Bleached sulphate
- do
6,990
7,447
6,926
7,079
7,108
' 5, 259
7,320
5, 508
7,865
8,765
7,222
8,350
8,545
7,043
Unbleached sulphate
do _
7,809
8,331
7,545
8,067
6,311
'8,050
10, 867
16,
713
17,
620
18,615
20,
326
19,
500
21,004
17,
747
20,
564
Bleached sulphite
- - do
26, 295
23, 952
27, 475
31,604
30, 297
r
13, 239
15, 399
15, 294
9,513
11, 128
Unbleached sulphite
- -_do
8,610
9,938
10, 645
13, 527
15, 332
14, 143
16, 982
16, 864
2,481
2,611
2,690
2,088
2,431
2,808
2,422
Soda
do
3,052
2,709
3,102
2,858
3,073
2,771
17,943
21, 423
' 21, 381
22, 897
' 25, 976
27, 188
28, 630
Groundwood
- - - _ _ _ _ _ _ do
32, 046
35, 452
38, 725
39, 626
31, 551
23, 939
PAPER AND PAPER PRODUCTS
All paper and paperboard mills:*
Paper and paperboard production, total
thous. of short tons._
1,739
' 1, 604
1,667
1,570
1,766
1,800
1,754
1,626
1,834
1,625
1,728
' 1, 763
1,708
889
845
'801
803
paper
do...
893
901
819
885
930
817
'892
883
873
'721
765
740
688
802
Paperboard
- --- - do._.
778
722
777
805
751
708
767
740
85
82
'82
79
Building board
- - do. _ _
95
98
92
85
99
101
95
' 105
95
Paper, excl. building paper, newsprint, and paperboard (American Paper and Pulp Association):!
r
738, 255
671, 294
Orders new
short tons__ ' 678, 141 ' 733, 259 ' 636, 783 ' 671, 096 809, 564
692, 057
714, 355
664, 048 ' 693, 915
706, 860
726, 386
732, 863
Production
do. _ ' 648, 450 ' 722, 024 ' 691, 008 ' 655, 896 728, 303 666, 630
711,517
752, 028
714, 440 ' 653, 710 ' 722, 372 699, 719
Shipments
do_ _ _ ' 632, 748 ' 726, 632 ' 699, 532 ' 652, 357 726, 511 667, 801 721, 800
709, 453
743, 947
706, 868 ' 644, 823 '728,843
695, 301
Fine paper:
' 102, 834 ' 110, 454 ' 82, 862 ' 98, 463
114, 900
119, 009
Orders new
do
93, 388
102, 900
90, 494
' 96, 557 ' 92, 830
104, 998
103, 338
'181,801 ' 180, 231 ' 163, 821 r r169, 955 166, 112
161, 085
Orders unfilled end of month
do
166, 788
165, 340
148, 310
157,015 ' 154, 216 ' 149, 820 150, 629
' 94, 202 ' 104, 537 ' 102. 592 r 96, 751
Production
- - do_
105, 100
106, 484
97, 608
102, 434
107, 558
101,311 'r 90, 227 ' 104, 222 103, 294
95, 905
Shipments
do_ _ _ ' 89, 587 ' 107, 895 ' 105, 822
107, 504
105, 153
98, 095
100, 664
108, 327
86, 643 ' 106, 276 103, 569
100, 313
Stocks end of month
do
' 60, 120 ' 56, 028 ' 53, 868 ' 56, 421 47, 939
47, 596
47, 880
48, 985
49, 285
' 52, 679 ' 52, 260 ' 49, 692
49, 723
Printing'paper:
Orders new
-- - - do. _ _ ' 231, 887 '251,739 ' 211, 387 T' 237, 600 314, 706 235, 764 252, 988 238, 918 259, 849 243, 519 ' 234, 913 ' 251, 252 261, 662
Orders unfilled, end of month
.
do ._ ' 242, 800 ' 252, 449 ' 228, 842 246, 023 290, 502 296, 114 292, 367 281, 212 274, 006 278, 132 ' 264, 117 ' 268, 253 286, 459
Price, wholesale, book paper, "B" grade, English finish, white, f. o. b. mill__dol. per 100 lb__
8.55
8.55
8.55
9.30
9.30
9.68
9.80
9.80
9.80
«10. 05
°10. 24
«10. 55
° 10. 80
Production
short tons ' 219, 404 ' 246, 662 ' 230, 490 ' 224, 650 252, 360
256, 045
230, 039
252, 348
264, 444
248, 796 ' 236, 295 ' 251, 763 243, 050
Shipments
- do _ '212,645 ' 249, 238 ' 235, 143 ' 220, 310 250, 429 226, 676 249, 862 252, 770
258, 296
246, 379 ' 234, 526 ' 252, 928
243, 204
Stocks, end of month
_
. - _ _ do
' 59, 130 ' 56, 233 ' 50, 790 ' 55, 910
67, 234
57, 113
60, 440
63, 943
68, 674
' 76, 903 ' 73, 139
72, 765
74, 479
Wrapping paper:
' 249, 291 ' 273, 576 ' 249, 292 ' 243, 785 279, 440
Orders new
-- -do
270, 461
249, 396
252, 330
263, 424
265, 650 ' 248, 313 ' 252, 463
262, 386
Orders, unfilled, end of month
do
' 210, 090 ' 210, 303 ' 194, 815 ' 182, 019
182, 985
186, 735
184, 065
178, 430
161, 563
176, 165 ' 168, 706 ' 162, 323 171,291
' 244, 045 ' 270, 611 ' 260, 764 ' 245, 166
271, 949
272, 357
249, 479
Production
do
256, 878
276, 919
268, 179 ' 241, 309 ' 267, 609
257, 695
Shipments
do
' 239, 829 ' 270, 859 ' 261, 650 ' 245, 882
272, 050
252, 127
269, 497
275, 131
264, 947 ' 237, 963 ' 270, 599 253, 456
256, 026
Stocks end of month
do
' 71, 107 ' 69, 902 ' 65, 249 ' 62, 855 64, 128
59, 211
61, 972
59, 788
60, 225
' 66, 538 '62,971
67, 455
67, 369
Newsprint:
Canada:
376, 436
364, 304
Production
do
330, 063
341, 951
372, 482
370, 000
341, 268
369, 490
384, 520
379, 731
355, 606
377, 941
366, 092
Shipments from mills
do
335, 874
387, 294
391, 388
340, 125
344, 543
319, 831
373, 769
376, 305
400, 763
379, 065
375, 498
388, 106
379, 460
Stocks at mills end of month
do
113, 032
123, 890
85, 948
87, 774
113, 231
134, 668
133, 381
126, 566
110, 323
90, 431
91,097
80, 932
67, 564
United States:
Consumption by publishers __
do
292, 205
265, 583
291, 517
302, 672
294, 835
266, 422
258, 424
302, 994
297, 461
292, 664
263, 698
281, 102
299, 807
305, 777
Imports §
do
293, 228
294, 042
323, 457
318, 576
322, 357
260, 815
315, 334
328, 747
353,091 315, 932
349, 134
Price, rolls (N. Y.) _
dol. per short ton.
80.00
74.00
84.00
84.00
84.00
84.00
84.00
90.00
90.00
90.00
90. 00
90.00
90.00
Production
short tons
61, 025
67, 248
64, 739
62, 088
68, 634
62, 802
67, 916
71, 933
73, 498
67, 656
67, 268
70, 507
70, 732
Shipments from mills
do
55, 587
66, 966
62, 054
69, 492
62, 107
68, 872
65, 226
73, 988
70, 997
68, 955
66, 743
69, 326
70, 168
Stocks, end of month:
12, 552
12, 270
At mills
- do
15, 184
15, 218
14, 360
10, 980
11, 936
8,925
11, 426
11,951
10, 652
11, 833
12, 397
240, 602
219, 478
At publishers
do
217, 303
217, 438
231, 694
224, 453
206, 064
215, 995
212, 724
228, 793
278, 918
295, 385
312, 573
In transit to publishers __
_ _ _ _ do
60, 634
82, 167
79, 676
73, 328
75, 602
69, 466
73, 699
68, 773
64, 985
71, 664
68, 401
84, 009
77, 150
Paperboard (National Paperboard Association):!
Orders, new
_ _ -_.
do __ 712, 650
806, 828
703, 825
697, 357
802, 016
713, 834
747, 358
770, 304
742, 712
760, 236
715, 054
720, 388
788, 601
580, 228
613, 221
Orders unfilled end of month
do
555, 398
542, 896
586, 121
549, 774
577, 777
582, 603
511,918 461, 226
494, 554
425, 412
437, 550
692, 200
Production
_ do
781, 700
750, 900
688, 646
774, 667
718, 072
747, 115
765, 026
805, 744
714, 529
737, 551
768,412 750, 042
99
99
92
Percent of activity. _.- 96
'99
103
103
100
101
101
99
90
96
Waste paper, consumption and stocks :cf
Consumption
short tons__ 399, 684
420, 867
474,317 397, 478 450, 740 416, 935 456, 127 445, 180
464, 323
424, 391
400, 625
430, 271
429, 410
309. 990
Stocks at mills, end of month
do
299. 218
304. 100
321. 434
313. 398
274. 850
266. 879
289. 297
293. 347
299. 507
312. 68n
302. 366
302. 66S
r
Revised.
p*Estimated; see note in April 1946 Survey.
JSee note in September 1947 Survey for reference to revisions.
0
Data beginning June are for a slightly different grade; June data comparable with earlier series, 9.80.
§Data continue series published in the 1942 Supplement but suspended during the war period; data for October 1941-February 1945 will be published later.
*New series. Data for pulpwood, waste paper and paper and paperboard are from the Bureau of the Census and are industry totals; for 1942 monthly averages and data beginning 1943
for total paper and paperboard, see p. S-32 of the August 1944 Survey; data for paperboard and building board have been revised transferring liner for gypsum and plaster board and stock for
laminated wallboard and other building board from building board to paperboard; earlier revisions for these series and unpublished revisions in data for paper will be shown later. For data
beginning March 1945 for pulpwood and waste paper see p. S-34 of May 1946 Survey; earlier data for these series and data beginning 1941 for defibrated, exploded, etc., pulp will be published later.
fRevised series. Revised wood pulp production for 1940-43 and sulphite stocks for 1943 are shown on p. 20 of the December 1944 Survey and revised 1942 stock figures for all series are on
pp. 30 and 31 of the June 1943 issue; revisions in the 1943 data for groundwood and total production shown in the December 1944 Survey and unpublished revisions in the 1944 production data
for these two series will be shown later; beginning in the May 1947 issue, data for total production of wood pulp include defibrated, exploded, etc., pulp, shown separately above,
which was not included previously; stocks of such pulp are comparatively small and are not included in the stock figures; stock data are stocks of own pulp at mills. The series from the American Paper and Pulp Association beginning in the August 1944 Survey are estimated industry totals based on monthly reports to the association adjusted to production data compiled by the
Bureaufor
of FRASER
the Census; there have been further small revisions in the data through August 1946 which have not been published; all revisions will be shown later.
Digitized
SURVEY OF CURRENT BUSINESS
S-36
November 1947
1946
Unless otherwise stated, statistics through
1941 and descriptive notes may be found
in the 1942 Supplement to the Survey
1947
November
October
September
December
February
January
March
April
May
July
June
August
September
PAPER AND PRINTING— Continued
PAPER AND PAPER PRODUCTS—Con.
Paper products:
Shipping containers, corrugated and solid fiber,
shipments*
mil. sq. ft. surface area
Folding paper boxes, value:*
New orders
1936=100
Shipments
do
PRINTING
Book publication, total
no. of editions_.
New books
do _ New editions
do _
' 4, 852
5,512
5,242
4,828
5,475
5,289
5,566
5,438
5,245
4,662
4,592
4,818
4,893
414.6
351.5
440.2
409.4
363.8
397.0
421.4
405.9
490.3
474.5
445.6
439.7
414.5
470.9
414.4
483.0
399.7
458.9
343.8
447.6
317.0
394.6
370.7
432.8
397. 2
451.3
656
532
124
848
675
173
863
704
159
846
621
225
470
372
98
557
436
121
1,027
808
219
852
678
174
811
650
161
531
426
105
592
439
153
678
526
152
647
549
98
PETROLEUM AND COAL PRODUCTS
COAL
Anthracite:
Exports §
thous. of short tons
Prices, composite, chestnut:
Retail^
dol. per short ton
Wholesale
do
Production
thous. of short tons
Bituminous:
Exports§
do
Industrial consumption and retail deliveries, total
thous. of short tons_.
Industrial consumption total
do
Beehive coke ovens
do
Cement mills
do
Electric power utilities
do
Railways (class I)
do
Steel and rolling mills
do
Other industrial
do
R'etail deliveries
do
Other consumption:
"ypg^gjc; (bunker) §
do
Coal mine fuel
do
Prices, composite:
Retail (34 cities)!
dol. per short ton
Wholesale:
Mine run
do - _
Prepared sizes
do
Production!
thous. of short tons
Stocks, industrial and retail dealers, end of month,
total
thous. of short tons__
Industrial total
do
Cement mills
do
Railwavs (class I)
do
Steel and rolling mills
do
Other industrial
do
Retail dealers total
do
COKE
Exports§
thous of short tons
Price, beehive, ConnellsviHe (furnace)
dol. per short ton._
Production:
Beehive
thous. of short tons
Byproduct
_ _ _
do
Petroleum coke
do
Stocks, end of month:
Byproduct plants, total
do
At furnace plants
do
At merchant plants
__ _
do
Petroleum coke
do
717
546
556
957
577
396
528
880
831
714
529
1,046
16.81
13. 593
5,033
16.78
13. 593
5,393
16.80
13. 597
4,975
16.63
13. 620
5,065
16.87
13. 768
5,155
16.84
13. 753
4,240
16.83
13. 767
4,967
16.82
13. 650
4,279
16.17
>• 13. 455
4,549
16.17
13. 520
4,609
16. 50
13. 713
4,084
17.48
14. 615
4,994
4,555
7,578
7,560
5, 323
8,847
150
200
177
149
179
17.71
14.700
5,136
5,070
4,185
3,644
1,712
3,192
3,183
4,164
42, 424
34, 041
729
7,578
656
6,280
8,790
725
9,283
8,383
46, 698
36, 714
867
7,814
693
6,708
9,571
850
10,211
9,984
44, 516
35, 401
562
6,992
694
6,447
8,879
799
11,028
9,115
45, 940
37, 281
599
6,757
676
6, 732
9,515
871
12, 131
8,659
55, 788
42, 843
877
7,964
658
7,158
10, 104
943
15, 139
12, 945
52, 399
39, 855
798
7,245
607
6,594
9,431
904
14, 276
12, 544
52, 487
41,498
895
8,025
651
6,938
10, 137
947
13, 905
10, 989
134
224
140
237
135
158
88
179
77
249
91
214
125
233
11.10
11.08
11.14
11.22
11.82
11.97
11.99
12.00
12.09
12.10
12.68
14.02
14.06
5.976
6.199
51, 922
5.989
6.200
57, 485
5.998
6.212
37, 501
6.044
6. 305
43, 746
6.217
6.506
58, 970
6.230
6.526
51, 400
6.252
6.532
55, 375
6.334
6.569
41, 187
6.344
6.573
56, 484
6.368
6.581
47, 500
7.119
7.334
39, 866
'7.410
7.634
51, 020
7.441
7.649
52, 350
52, 367
48, 965
5,924
891
14, 563
8,800
855
17, 932
3,402
54, 924
51, 532
6,593
1,046
15, 638
9,274
888
18, 093
3,392
52, 429
49, 546
6,355
1,054
14, 549
7,587
877
19, 124
2,883
47, 157
44, 453
5,222
'887
13, 044
6,959
785
17, 556
2,704
49, 169
46, 003
5,919
861
13, 208
7,673
909
17,433
3,166
49, 471
47, 340
6,645
881
13, 453
7,682
985
17, 694
2,131
51,674
49, 547
7,429
935
14, 059
8, 262
1,141
17, 721
2,127
93
76
78
49
49
38
69
76
66
63
35
108
8.750
8.750
8.750
8.750
8.812
8.875
8.875
9.062
9.125
9.562
11. 000
12. 000
12. 000
500
5,377
190
574
5,545
212
372
4,954
191
396
4,797
197
562
5,619
203
514
5, 129
178
580
5,658
209
429
5,383
195
587
5, 530
218
452
5,322
201
421
5,373
224
••569
' 5, 633
200
566
5, 396
949
503
446
89
1,120
653
467
96
1,034
602
432
93
893
542
351
90
797
523
274
94
716
527
189
77
676
504
172
91
652
460
191
89
671
445
226
84
668
400
268
89
773
458
315
86
••982
••544
438
110
1,029
509
520
146, 816
4,622
7,149
1.460
148, 323
94
140, 514
3,794
6,176
1.485
144, 674
93
148, 171
3,542
8,422
1.560
146, 471
95
146, 897
2,481
8,956
1.560
144, 800
94
134, 953
2,585
8,172
1.560
134, 693
95
150, 120
3,257
8,916
1.710
152, 160
94
141, 210
3,999
7,846
1.810
149, 228
94
153, 348
153, 604
3,758
7,856
1.810
152, 978
97
161, 844
5,184
8,205
1.810
159, 237
98
163, 068
4,139
7,919
1. 810
160, 365
98
222, 177
52, 074
155, 434
14, 669
5,483
1,434
226, 453
53, 344
158, 207
14, 902
5,335
1,314
224, 473
53, 113
156, 238
15, 122
5,703
1, 248
223, 848
55, 833
152, 988
15, 027
5,584
1,453
225, 121
57, 106
153, 160
14, 855
5, 790
1,196
228, 981
59, 310
154, 637
15, 034
5,999
1,358
235, 710
60, 386
160, 484
14, 840
5,953
1,247
237, 768
59, 013
163, 740
15, 015
1,626
237, 278
59, 160
162, 784
15,334
5,429
1,523
230, 974
56, 656
159, 556
14, 762
5,208
1,842
228, 523
57, 136
156, 241
15, 146
5,320
1,810
18, 131
37, 014
23, 110
41, 497
32, 450
47, 405
35, 294
48, 299
31, 687
43, 308
29, 279
45, 852
21, 321
42, 140
19, 262
40, 057
16, 977
38,237
16, 355
40, 412
15, 978
39, 864
3,280
7,249
2,367
4,372
7,307
5,002
5,313
7,607
5,579
4,426
7,460
5,818
3,696
6,537
5,710
3,564
7,138
6,164
3,462
6,675
6,132
3,264
6,653
6,470
3,273
6,564
6,080
3,715
6,714
6,371
3,810
6,650
6,676
•
PETROLEUM AND PRODUCTS
Crude petroleum:
145, 181
Consumption (runs to stills) t
thous of bbl
3 687
Exports^
do
8, 154
Imports§
do
1.460
Price (Kansas-Okla ) at wells
dol per bbl
143, 708
Production!
thous of bbl
96
Refinery operations
pet of capacity
Stocks, end of month:
222, 417
Refinable in U S f
thous of bbl
53, 894
At refineries
do
153, 469
At tank farms and in pipe lines
do
15, 054
On leasesf
do
5,401
Heavy in California
do
Wells completed f
number
1,333
Refined petroleum products:
Fuel oils:
Domestic demand: §
14, 520
Distillate fuel oil
thous of bbl
33, 509
Residual fuel oil
do
Consumption by type of consumer:
2,914
Electric power plantsf
do
6,729
Railways (class I)
do
3,695
Vessels (bunker oil)§
do__.
* Revised.
§Data continue series published in the 1942 Supplement but
4,789
8,361
1.810
156, 024
95
5,825
1.810
3,927
suspended during the war period; data for October 1941-February 1945 will be published later.
*New series. For data beginning 1934 for shipping containers, see p. 20 of the September 1944 Survey. For data beginning June 1943 for folding paper boxes, see p. S-32 of the August 1944
Survey. Minor revisions in the January-May 1944 figures for folding paper boxes and January 1943-May 1944 data for shipping containers are available on request.
fRevised series. See note marked "f" on p. S-36 of the September 1947 Survey for reference to 1941-45 revisions for bituminous coal production and 1941 revisions for the indicated series
on petroleum products; 1942-43 revisions for the latter series are available upon request.
SURVEY OF CUEEENT BUSINESS
November 1947
S-37
1947
1946
Unless otherwise stated, statistics through
1941 and descriptive notes may be found
in the 1942 Supplement to the Survey
September
October
November
December
January
February
March
April
May
June
July
August
September
PETROLEUM AND COAL PRODUCTS—Continued
PETROLEUM AND PRODUCTS—Continuec}
Eefined petroleum products— Continued
Fuel oils— Continued
Exports:§
1,992
Distillate fuel oil
thous ofbbl
730
Residual fuel oil
do
.062
Price, fuel oil (Pennsylvania)
dol. per gal__
Production:
23, 877
Distillate fuel oil
thous. of bbl_.
34, 512
Residual fuel oil
do
Stocks, end of month:
62, 019
Distillate fuel oil
do
54, 012
Residual fuel oil
do
Kerosene:
5,284
Domestic demand§
do
701
Exports §
do
Price, wholesale, water white, 47°, refinery
.074
(Pennsylvania)
_._dol. per gal__
7,825
Production
thous. of bbl
13, 442
Stocks, refinery, end of month
_do
Lubricants:
3,095
Domestic demand § .
_ _ . .-do. _
694
Exports§
do
Price, wholesale, cylinder, refinery (Pennsyl.214
vania)
dol. per gal
4,016
Production
thous. of bbl
7,244
Stocks refinery, end of month
do
Motor fuel:
All types:
62, 216
Domestic demand § .
do
3,608
Exports§
do
Prices, gasoline:
.070
Wholesale, refinery (Okla.)
dol. per gal_.
.159
Wholesale, tank wagon (N. Y.)
do
.155
Retail, service stations, 50 cities
do
66, 284
Production, totalf
thous. of bbl
58, 914
Gasoline and naphtha from crude oiLdo
9,574
Natural gasoline and allied products|f^do_._
Sales of 1. p. g. for fuel, etc. and transfer
2,204
of cycle products
thous. of bbl
5,390
Used at refineriesf
do
2,559
Retail distributiond"1
mil of gal
Stocks, gasoline, end of month:
78, 848
Finished gasoline, total
thous. of bbl__
47, 021
At refineries
_
do
8,173
Unfinished gasoline
do
7,060
Natural gasoline.. _
do
Aviation gasoline:*
2,176
Production, total
__
do
496
100 octane and above..
do, _
4,483
Stocks, total
do
1,836
100 octane and above
do. .
Asphalt:
27, 811
Imports§
_
short tons_827, 800
Production
do
626, 500
Stocks, refinery, end of month
do
Wax:
68, 600
Production
thous. of Ib
83, 160
Stocks refinery, end of month
do
Asphalt prepared roofing, shipments, totalf
5,264
thous. of squares. 1,633
Smooth-surfaced roll roofing and cap sheet. do
1,146
Mineral-surfaced roll roofing and cap sheet _ do
2,486
Shingles, all types... __ _ _ _
. _ do
451
Asphalt siding, shipments*
do
25, 207
Saturated felt, shipments*
short tons__
891
550
.062
758
316
.062
1,273
831
.066
876
733
.070
1,751
713
.070
2,093
24, 432
33, 777
23, 741
33, 015
24, 970
35, 937
24, 131
36, 390
21, 746
34, 390
67, 870
55, 580
68, 145
52, 735
59, 620
47, 094
48, 197
41, 550
7,502
312
8,899
414
11,513
664
.074
8, 566
13, 926
.074
7,893
12, 734
3,536
706
2,766
635
.073
2,189
593
.075
2,088
25, 577
37, 876
22, 925
34, 438
24, 954
37, 328
36, 901
38, 480
31, 423
37, 403
30, 268
36, 455
12, 325
394
10, 532
929
10, 078
1,017
8,082
.075
8,782
9,772
.076
9,415
7,299
.076
9,243
6,126
.078
9,476
5,260
.081
8,854
4,870
9,284
7,328
2,900
906
2,900
1,063
2,951
1,105
2,680
1,254
2,929
3,066
3,104
1,361
.248
4,327
7,338
.250
3,857
7,384
.274
4,135
7," 564
.298
4,204
7,773
.300
3,925
7,753
4,480
8,015
4,267
7,936
4,608
8,070
4,427
66, 598
2,386
61,315
3,068
61, 043
3,688
57, 057
2,892
50, 551
4,834
59, 947
4,091
63, 406
70, 865
.070
.159
.155
67, 305
59, 607
10, 275
.070
.159
. 156
66, 072
58, 636
10, 155
.070
.161
.157
69, 028
61, 387
10, 651
.070
.161
.158
65, 904
58, 560
10, 651
.070
.161
. 159
60, 485
53, 591
9,944
.076
.167
.171
66, 701
59, 069
11, 033
.080
.172
.171
63, 374
55, 502
10, 803
2,577
6,023
2,706
2,719
6,232
2,501
3,010
5, 813
2,520
3,307
5,859
2,319
3,050
4,908
2, 173
3,401
5,271
77, 628
46, 244
8,324
6,312
79, 980
47, 581
8,607
5,487
84, 534
51, 927
8,208
4,981
90, 300
57, 066
9,323
4,794
2,190
417
4,612
1,666
1,942
550
4,742
1,635
1,989
675
4,553
1,472
1,805
704
4,322
1,410
8,253
806, 500
577, 800
0
670, 400
622, 200
88
615, 800
702, 000
74, 480
84, 840
79, 240
89, 880
79, 800
86, 240
83, 720
82, 040
81, 760
85, 120
93, 520
91, 560
80, 080
85, 680
89, 600
89, 320
78, 120
88, 200
5,646
1,760
1,237
2,649
440
29, 106
5,328
1,725
1,168
2,435
447
25, 286
5,231
1,691
1,134
2,407
364
25, 089
5,827
1,942
1,287
2,598
436
25, 584
5,300
5,809
6,097
5, 968
1,798
1,399
2,771
384
30, 456
5,806
672
.071
1,273
.308
889
1, 25.9
.310
2,987
600
.079
3,019
781
.085
24, 214
36, 977
26, 270
38, 550
26, 946
38, 592
34, 279
39, 992
39, 676
43, 515
46, 444
47, 600
54, 707
51, 334
6,068
202
5,910
711
5,348
5,447
746
313
.082
.082
8,717
.092
8,956
.088
9,117
10, 867
2,873
3,003
.310
679
.075
1,338
.330
8,970
3,051
1,105
1,300
.350
.338
4,400
8,420
71, 329
73, 441
72, 089
4,009
3,224
.080
.172
.171
68, 535
60, 681
10, 392
.080
.172
.171
69, 847
61, 855
10, 505
.080
.174
.172
73, 494
65, 200
.083
.174
.174
75, 745
67, 404
11, 254
2,538
5,300
2,513
2,449
2,931
5,618
2,611
5,898
2,931
6,176
3,132
6,477
2,901
94, 985
61,332
8,687
5,010
96, 952
63, 089
92, 719
58, 852
86, 727
54, 752
81, 160
50, 610
8,614
77, 069
47, 929
77, 190
46, 398
5,452
8,934
5,269
1,943
713
4,293
1,374
2,221
954
4,168
1,342
3,467
8,727
5,265
3,358
9,005
5,604
3,480
8,482
5,566
3,937
2,446
2,870
3,003
4,692
1,219
4,811
1,543
4,847
566
1,381
1,353
1,671
' 12, 756 r 21, 441
12, 022
21, 923 ' 22, 762 »• 12, 424
540, 500
532, 400
602, 700
606, 700
789, 300
823, 800
781, 800
888, 200 1, 001, 800 1, 028, 500 1, 063, 100 1, 000, 500
1,886
1,162
2,252
421
25, 482
1,969
1,273
2,567
461
28, 408
1,997
1,326
2,775
440
30, 277
1,747
1,368
2,691
334
32, 758
4,227
11,019
.095
13, 161
8,188
8,281
.087
2,725
.352
.084
.176
.173
2,913
8,659
5,017
3,664
2,061
1,545
5,144
1,804
5,480
1,968
' 24, 591 26, 191
987, 500
879, 800
716, 500
866, 200
89, 600
93, 520
5,600
1,630
1,287
2,683
271
33, 234
66, 080
87, 920
r
5, 672
'1,590
r
1,332
' 2, 750
'283
' 35, 456
5,886
1,699
1,368
2,819
300
39, 565
RUBBER AND RUBBER PRODUCTS
RUBBER
Natural rubber:
35, 421
31, 123
37, 323
38, 802
Consumption§ .
_
long tons_
45, 328
40, 983
r 47 289
43, 104
43, 818
43 018
42 529
40 389
50 522
41,737
46, 887
P9, 266
46, 658
Imports, including latex and Guayule§-_ __do
92, 779
60, 678
36, 088
46, Oil
65 724
93, 026
57 626
45 526
Stocks, end of month §
_. do
200, 799
199, 591
218, 672
237, 467
294, 191
283, 479
280, 812
292, 970
330 960
345 175 i 131 624 r i 130 040 1 121 833
Synthetic rubber:*
58, 798
57, 794
53, 453
60, 729
r 39 ooi
Consumption
do
58, 764
53, 321
55 514
54 333
48 692
42 580
37 607
41 777
487
1,786
1,877
Exports
. _ __ __do__ - 2.603
3,450
2,434
665
710
441
454
2 290
' 287
62, 086
63, 765
62, 648
60, 305
62, 103
Production
do ..
59, 125
57 478
50 117
39 069
31 917
35 681
32 901
30 518
110,913
Stocks, end of month
do
108, 840
113, 556
114, 963
i 97 728 r i 91 288 i 79 123
llo, 655 119 912
121 322
116 829
105 291
97 612
Reclaimed rubber :§
93 879
26, 706
23, 715
24, 385
23, 597
27, 715
Consumption _
_ - _ _ _ do
25, 484
26, 157
25 066
21 908
20 433 r 21 093
21 283
23, 956
25, 254
26, 322
Production
do
24, 748
23, 990
25, 545
26 209
26 696
r 21 658
25 408
24 144
21 252
92 723
i 3§ 933
33 527
34, 261
33 516
33, 666
Stocks, end of month
0.0
35, 404
27 417
30 053
31 940
37 145
39 598 i 39 704 r i 40 130
TIRES AND TUBES
Pneumntic casings :§
155
Exports
thousands
198
413
358
411
353
363
419
502
423
362
360
7,233
8,197
7,595
7,511
Production
do
7,915
8,508
8 577
8 333
7 583
8 104
6 790
7 165
8,137
Shipments ._. _
__do.__
6,947
8,425
7,478
7,499
7,360
7,273
7,892
7 526
7 283
7' 441
7 520
Original equipment
do
1,636
1,874
1, 656
1,839
1,922
2 138
2 457
1 894
2 005
2 130
1 974
1 793
Stocks, end of month
do
3,041
3,372
3,112
2,448
3,328
3,865
4,516
5,608
6,426
6,670
5,838
5,464
r
Revised. 1 Beginning July 1947 data are reported stocks available to industry. cT See note in the April 1946 Survey. Revisions for January 1945-July 1946 will be shown later.
§Data continue series published in the 1942 Supplement but suspended during the war period; data for 1941-45 for reclaimed and natural rubber and for tires and tubes (p. S-38) are shown on
pp. 22 and 23 of the December 1946 Survey; data for October 1941-February 1945 for other series will be shown later.
tlncludes natural gasoline, cycle products, liquefied petroleum gases at natural gasoline plants and benzol; sales of liquefied petroleum gas for fuels and for chemicals and transfers of cycle
products are deducted before combining the data with gasoline and naphtha to obtain total motor fuel production.
*New series. Data beginning 1939 for aviation gasoline, compiled by the Bureau of Mines, and data begining 1943 for asphalt siding and saturated felts, compiled by the Bureau of the
Census, will be published later. For data for 1941-45 for synthetic rubber, see p. 23 of December 1946 Survey.
tRevised series. For 1941 revisions for the indicated series on petroleum and products, see notes marked "f" on p. S-33 of the March and April 1943 issues; 1942-43 revisions are available on
request. See note in April 1945 Survey for explanation of revision in data for asphalt roofing.
SUEVEY OF CURRENT BUSINESS
S-38
Unless otherwise stated, statistics through
1941 and descriptive notes may be found
in the 1942 Supplement to the Survey
November 194'
1946
September
October
1947
November
December
January
February
March
April
May
June
July
August
September
RUBBER AND RUBBER PRODUCTS—Continued
TIRES AND TUBES— Continued
Inner tubes :§
Exports
Production
Shipments
Stocks, end of month
thousands
do
do
_ do
109
7,148
6,702
4,433
125
8,187
8,408
4,106
258
7,680
7,260
4,483
313
7,402
7,923
3,820
334
8,719
7,188
5,075
282
7,841
6,289
6,621
297
7,921
6,466
8,050
337
7,093
5,731
9,480
475
5,752
5,571
9,772
332
5,440
5 779
9,413
282
4 542
6 216
7,909
227
5 179
6 499
Q 937
126, 722
130, 489
STONE, CLAY, AND GLASS PRODUCTS
ABRASIVE PRODUCTS
Coated abrasive paper and cloth, shipments_reams__
PORTLAND CEMENT
Production
thous. of bbl
Percent of capacity
Shipments
thous. of bbl _
Stocks, finished, end of month
do
Stocks clinker end of month
do _ CLAY PRODUCTS
Brick, unglazed:
Price, wholesale, common, composite, f. o. b. plant
dol. per thous. .
Production*
thous. of standard brick..
Shipments*
. __ _ do
Stocks end of month*
do
Structural tile, unglazed:*
Production
_
short tons._
Shipments
-do
Stocks
_do
Vitrified clay sewer pipe:*
Production
do
Shipments
do
Stocks
do
GLASS PRODUCTS
Glass containers:!
Production
_ thous. of gross. .
Shipments domestic total
do
General use food:
Narrow neck food
-- - do__ _
Wide mouth food (incl. packers tumblers)
thous. of gross. .
Beverage
do
Beer bottles
do
Liquor and wine
- -do
Medicinal and toilet
do
Chemical, household and industrial
do
Dairy products
0.0
Fruit jars and jelly glasses
do__ _
Stocks end of month
do
Other glassware, machine-made:
Tumblers:f
Production
thous. of dozens
Shipments
do
Stocks
-- do
Table, kitchen, and householdware, shipments!
thous. of dozens _ _
Plate glass, polished, production.. -thous. of sq. ft__
GYPSUM AND PRODUCTS
Crude gypsum:
Imports §
thous of short tons
Calcined production
Gypsum products sold or used:
Uncalcined
Calcined:
For building uses:
a e c u ^p
___
All of hpr hm'lrlinff nlasters
Lath
Tile
Wallboardcf
Industrial plasters
150, 726
166, 649
164, 733
145, 383
151, 364
143, 017
158, 716
155, 873
146, 352
134, 834
16, 450
83
17, 153
8,612
16, 410
81
17, 721
15, 335
78
14, 803
14, 557
71
11, 494
10, 921
13, 406
66
12, 618
68
16, 931
20, 112
14, 205
69
12, 133
22, 178
14, 566
74
15, 414
13, 389
66
15, 328
19, 308
15, 971
81
18, 188
17, 096
3,898
7,298
3,598
18. 787
470, 998
443, 647
116, 845
7,830
8,395
21,331
6,338
19. 361
334, 624
268, 460
509, 022
19. 400
339, 963
326, 776
522, 627
19. 412
377, 586
382, 610
515, 806
19. 416
411, 991
402, 780
525, 985
19. 550
19. 668
414, 634 r 438, 591
406, 918 ' 455, 616
528, 873 ' 504, 124
19. 937
466, 477
457, 123
97, 443
96,050
118,075
107, 543
107, 101
118, 637
105, 681
101,950
97, 421
82, 505
116, 503
105,876
101, 742
98, 364
117, 080
113, 882
112, 784
124, 675
103, 135
103, 313
137, 887
112, 992
103, 896
143, 194
104, 504
93, 241
154, 653
109, 254
107, 758
156, 061
101, 914
107, 851
150, 033
117, 018
114, 588
152, 314
9,344
9,352
11. 153
9,281
10, 582
10, 358
10, 578
3,886
18. 843
509, 839
480, 121
339, 129
19. 000
455, 676
424, 705
368, 953
19. 095
381, 146
354, 782
383, 824
376, 848
324, 868
448, 752
128, 276
122. 157
62, 633
123, 976
107, 833
80, 497
113, 682
102, 278
87, 580
112, 119
97, 764
99, 000
106, 518
125, 491
116, 567
110,751
131,330
102, 857
98, 495
134, 560
9,815
10, 533
10, 376
9,332
9,610
115,474
57, 664
9,633
4,593
19.315
10,101
5,354
8,650
9,645
9,637
6,326
116, 549
9,492
5,736
r 118,
814
»• 110, 220
r 123, 943
115,717 r 109, 686
111, 547
156, 358
«•r 110, 012
155, 971
9,619
8,316
8,877
8,127
17, 319
85
19, 731
8,040
3,851
20. 374
512,413
111,313
110,631
156, 570
9,476
8,859
9,390
8,786
1,309
971
744
723
743
679
918
1,050
1,007
928
764
1,285
1,528
2,864
i 3, 204
571
576
1,408
2,491
687
364
U05
2,978
i 3, 078
623
832
1,420
3,906
3,905
725
359
125
4,167
4,554
1,650
1,093
1,616
663
1,309
433
305
320
1,754
1,152
1,263
575
1,449
397
308
464
2,322
651
331
U4
3,591
2,481
760
1,140
1,293
1,906
658
356
133
5,141
2,079
658
318
73
i 2. 445
569
804
1,262
1,947
620
286
138
2,307
517
573
1,372
i 2, 881
513
639
1,342
2,189
1,045
632
778
1,645
452
290
227
6,078
5,352
7,763
7,657
5,326
6,848
6,527
5,544
6,470
6,242
7,586
6,352
5,095
4,835
4,736
6,478
6,272
5,975
5,575
6,262
6,140
6,769
6,234
6,672
6,210
5,261
7,729
4,993
4,346
7,775
3,645
5,000
2,668
20, 268
3,454
21,419
3,331
21, 980
2,213
22, 605
3,658
2,302
23, 271
2,298
18,411
4,489
21, 142
3,168
20, 781
529
460
1, 216
2, 051
582
314
309
3,940
6,711
2,099
2,227
4, 879
2,295
853
1,342
993
1,967
610
354
161
5,475
6,639
9b2
1,697
761
1,844
573
341
227
6,085
23, 171
6,849
21,026
572
1,522
1,173
542
1,642
1,250
186
1,557
1, 164
409
1,467
1,166
short tons
389, 021
472, 603
519, 788
407, 354
422, 025
8 392
103, 442
295, 620
4 508
557, 537
49, 941
482, 306
do
thous of sq ft
do
do
short tons
386, 830
11, 833
109, 089
364, 675
391, 548
12, 520
101, 567
391, 142
7,281
520, 358
46, 745
do
16, 342
17, 380
80
86
20,
099
20, 362
r
13, 337 ' 10, 452
' 5, 514 r 4, 822
5,996
3,512
310,814
8,434
146, 111
9,479
115,806
328, 491
5,138
589, 374
55, 484
5,464
517, 458
58, 577
7,065
1,212
676
627
1,479
466
307
486
7,300
7,478
5,854
4,867
8,158
3,645
17, 670
21, 401
20, 648
10, 428
9, 956
21, 267
11,615
11, 769
21, 113
11,956
12, 681
20, 388
TEXTILE PRODUCTS
CLOTHING
Hosiery:
Production
thous. of dozen pairs, .
Shipments
do
Stocks end of month
_ do
13, 204
13, 519
17, 720
14, 554
15, 138
17, 087
13, 289
13, 583
16, 722
12, 122
11, 953
16, 802
14, 592
13, 394
18, 042
13, 171
12, 529
18, 686
12, 921
12, 711
18, 980
13, 029
12, 535
19, 480
11,672
11, 269
19, 910
10, 558
10, 542
20, 795
COTTON
Cotton (exclusive of linters):
727, 448
728, 251
677, 489
710, 601
882, 880
875, 124
827, 234
840, 463
774, 177
947, 036
Consumption
_ _ _ _ _ bales_ r 819, 058 931, 229 877, 461
302, 773
83, 918
6,671
382, 909
275, 104
248, 549
289, 672
385, 050
455, 342
361, 370
242, 177
103, 781
Exports!
do
4,984
8,163
62, 029
12, 083
10, 381
9,898
10, 730
14, 630
10, 543
51, 218
40, 984
36, 201
Imports §
do
.312
.359
.341
.332
.319
.335
.306
.323
.292
.300
.297
.353
.377
Prices received by farmers f
dol. per lb__
Prices, wholesale, middling, 1 Me", average, 10
.316
.372
.375
.343
.352
.351
.360
.309
.324
.319
.333
.369
.361
markets
_
_dol. per Ib.
T
Revised, i Jelly glasses included with wide mouth food containers.
§See note marked "§" on p. S-37.
ef Includes laminated board reported as component board.
*New series. See note marked "*" on p. S-37 of September 1947 Survey for reference to tables giving the earliest data available for the clay products series.
tRevised series. See note on p. S-34 of the July 1944 Survey regarding changes in the data for glass containers and comparable figures for 1940-42 and note in May 1946 Survey for changes
in the reporting companies for other machine-made glassware. For revisions for farm price of cotton for August 1937-July 1942, see p. S-35 of June 1944 Survey.
SURVEY OF CURRENT BUSINESS
November 1947
Unless otherwise stated, statistics through
1941 and descriptive notes may be found
in the 1942 Supplement to the Survey
S-39
1947
1946
September
October
November
December
January
February
March
April
May
June
July
August
September
TEXTILE PRODUCTS—Continued
COTTON—Continued
Cotton (exclusive of lintcrs) — Continued
Production: 1
G innings d
thous of running bales
Crop estimate, equivalent 500-lb. bales
thous of bales
Stocks, domestic cotton in the United States, end
of month:
Warehouses
thous of bales
Mills
do
Cotton linters:
Consumption
do
Production
do
Stocks, end of month _
_ _ _ _ _._do
2,334
5,725
7,366
7,783
194
i 8, 513
8,166
1
647
5
8, 637
3,899
11 849
4,280
1,864
5,845
1,928
6,161
2,019
5,939
2,126
5,192
2,159
4,242
2,161
3,319
2,126
2,469
2,040
1,797
1,862
1,168
1,598
854
1,321
781
1,076
2,528
1,058
75
74
292
79
162
349
82
169
388
79
129
437
94
136
472
80
97
485
87
68
483
85
51
466
80
34
423
73
23
382
82
23
345
81
32
289
91
105
296
COTTON MANUFACTURES
Cotton cloth:
Cotton broad woven goods over 12 inches in width,
production quarterly* mil of linear yards
Cotton goods finished, quarterly:*
Production, total
do_
B leached
do
Plain dyed
do
Printed
. do
Exports§
thous. of sq. yd
Imports §
do
Prices, wholesale:
Mill margins
cents per Ib
Denims, 28-inch
dol. peryd..
Print cloth 64 x 60
do
Sheeting, unbleached", 36-inch, 56 x 60- . do
Cotton yarn, Southern, price, wholesale, mill:
22/1, cones, carded, white
dol. per lb_.
40/1, twisted, carded .
_.
do
Spindle activity:
Active spindles
. thousands
Active spindle hours total
mil. of hr
Average per spindle in place
hours. _
Operations
pet. of capacity
2,190
2,359
2,474
' 2, 466
1,604
765
449
390
41, 109
2,311
41, 201
2,459
68, 907
1,792
1,810
897
492
421
99, 872
2,190
86, 338
1,687
86, 808
1,203
1,819
926
490
402
123, 375
888
138, 196
907
146, 686
1,135
1,760
918
438
403
125, 206
472
129, 275
1,076
140 686
880
27.40
.323
.140
«.172
30.86
.338
.146
.180
40.78
.338
.147
.189
47.72
.338
.185
.198
51.60
.338
.192
.220
52.36
.338
.248
.232
53.37
.338
.255
.232
51.25
.338
.227
.232
47.86
.338
.216
.232
46.46
.338
.228
.232
49.49
.338
.242
.232
53 96
.338
251
232
57.91
.338
.255
.232
.671
.804
.699
.819
.699
.819
.699
.819
.699
.819
.699
.819
.699
.819
.715
.882
.715
.882
.706
.882
.700
.890
.706
.921
.706
.921
21, 639
9,037
379
114.4
21, 754
10, 143
424
116.2
21, 524
9,499
397
119.6
21, 688
8 671
362
107.8
21,919
10, 588
444
123.3
21, 954
9 590
402
125.6
21, 953
10, 030
421
125.4
21, 805
10, 243
428
121.7
21,624
9 928
415
119.7
21, 324
9,103
382
113.6
21, 415
8,531
358
101.7
21 , 197
9 034
379
112.9
21, 410
9,427
396
114.3
59.6
15.7
3,108
58.0
13.0
3,708
55.9
12 9
4 277
62.4
15.1
5,770
56.3
14.9
4 326
60.0
16.2
4,350
60.1
18.3
4,233
59.5
18 6
2 501
54.7
16.5
2 795
62.4
18 4
2 327
'62.6
18.6
2 428
60.1
20.4
.550
.250
.585
.265
620
280
.620
.280
.690
.320
.690
.320
.690
.320
690
.320
.690
.320
690
320
9 7
2.6
9 7
2.5
6 0
16
7 3
2.7
6 9
2.3
7 0
3.1
7 7
2.9
8 5
3! 8
8 3
6.6
86
7 7
'78
6.4
4
RAYON AND MANUFACTURES AND SILK
Rayon yarn and staple fiber:
Consumption:
54.2
Filament yarn
mil. of lb__
Staple fiber .
do
14.0
Imports §
thous of Ib
2,423
Prices, wholesale:
Yarn, viscose, 150 denier, first quality, minimum
filament
dol. per Ib
.550
Staple fiber, viscose, 1J-S denier
do
.250
Stocks, producers', end of month:
Filament yarn
mil of Ib
91
Staple
fiber..do
2.6
Rayon goods, production, quarterly:*
Broad woven goods, ..
thous. of linear yards.. 408, 204
384, 574
Finished, total
do
White
finished
do
41, 669
Plain dyed
do
267, 185
75, 720
Printed
do
Silk, raw:
Imports § _ _
. thous. of Ib
567
6.820
Price, wholesale, Japan (N. Y.)§
dol. perlb._
463, 188
465, 693
64, 070
299, 005
102, 618
428, 131
439, 912
50 587
299 595
89 730
1,510
6.405
379
7.018
858
6.220
2 672
6.272
b
' 670
.320
6
.670
.320
80
6.4
471, 425
435, 333
47, 545
301, 701
86, 087
22
41
4.000
3
4.150
479
4.009
193
(3)
45, 724
13, 676
67 528
52, 970
15, 995
63 291
38 412
13, 668
62 112
' 37, 864
* 13, 192
57 566
38 505
12 685
48 942
35, 974
1.195
.555
1.225
.565
1. 225
.565
1. 225
. 565
1.225
565
1.220
.565
1.220
.565
.872
.939
.990
1.002
1.040
1.025
1.025
429
4.682
186
4.050
48, 368
13, 088
57 705
(3)
(3)
WOOL
Consumption (scoured basis) :f
Apparel class
_ thous. of Ib
Carpet class... _
__
do
Imports §
do
Prices, wholesale:
Raw, territory, 64s, 70s, 80s, scoured*. dol. per lb__
Raw, bright fleece, 56s, greasy*- -_
_ _ _ do.
Australian, 64-70s, good topmaking, scoured, in
bond (Boston)*
do!, perlb-.
Stocks, scoured basis, end of month, totalf
thous. of Ib
Apparel, total t
do
Domestic!
do
Foreign f
do
Carpetf
do
r
r
49, 048
10, 260
85, 658
'62,215
13, 435
70 236
.995
.465
1.037
.480
1.106
.490
.745
.757
.789
597, 502
490, 847
297, 499
193, 348
106, 655
47, 332
11,492
66 177
r
46 020
11 752
56 553
T
57, 040
14, 250
73 716
T
1.145
530
1.155
.530
1.165
.545
.850
.850
.850
544 729
442, 224
273 916
168, 308
102, 505
505, 562
411,690
248, 145
163, 545
93, 872
491, 027
402, 057
270, 070
131, 987
88, 970
WOOL MANUFACTURES
Machinery activity (weekly average):^
Looms:
Woolen and worsted:
Pile and Jacquard* thous. of active hours
91
81
60
78
Broad
__
do
2,592
2,687
2,551
r 2 242
2,516
2,322
2 632
2 186
2,547
2,503
1 860
Narrow
do
85
86
86
66
75
47
45
77
70
43
39
Carpet and rug:
Broad
_
do
105
113
110
113
127
109
131
118
130
137
98
Narrow
do
93
101
100
102
114
114
122
92
101
117
117
Spinning spindles:
r
Woolen
do
120, 847
122, 605
117, 164
112, 558
108 636
99 693
108 936
88 402
85 052
70 879
82 113
Worsted
do
112 153
118 212
112 384
114 515
114 434
122 115
123 186
118 421
89 010
112 268 r 115 568
Worsted combs
_do. __
223
221
245
230
226
227
245
236
223
••230
179
' Revised.
'Included in data for broad and narrow looms prior to April 1947.
cf Total ginnings to end of month indicated.
»b Price is for the wartime construction, 56 x 56; the price quoted for this construction for October 1946 was the same as the price above for 56 x 60.
Price of yarn in cones; earlier data are for yarn in skeins; price in cones
February-July 41947, $0.670; January 1947 price in cones same as in skeins.
1
3
Total ginnings of 1946 crop. 2 September 1 estimate of 1947 crop.
Not available.
Price for 40s, single, carded; comparable October figure, $0.834.
§Data
continue
series
published
in
the
1942
Supplement
but
suspended
during
the war period; data for October 1941 to February 1945 (July 1946 for silk) will be published later.
6
I)ata for October 1946 and January, April, and July 1947 are for 5 weeks; other months, 4 weeks. Data for wool consumption have been revised to cover consumption only on woolen and
worsted goods systems; data previously published through March 1947 include also consumption on silk, cotton and other systems, which are no longer reported.
fRevised series. See note marked "t" on p. S-39 of September 1947 Survey for reference to 1941 data for the yarn price series and information regarding revisions in data for wool stocks.
*New series. See notes marked "*" on pp. S-38 and S-39 of the September 1947 Survey for reference to earliest data published for cotton and rayon woven goods production, cotton and
rayon
finished, and wool price series.
Digitizedgoods
for FRASER
S-40
SUKVEY OF CTJKKENT BUSINESS
Unless otherwise stated, statistics through
1941 and descriptive notes may be found
in the 1942 Supplement to the Survey
November 1947
1946
September
October
1947
November
December
January
February
March
April
May
June
July
August
September
TEXTILE PRODUCTS—Continued
WOOL MANUFACTURES— Continued
Woolen and worsted woven goods (except woven
felts):*
Production, quarterly, total
thous. of lin. yd._
Apparel fabrics
_
_ _ _ _ . __ do - - _
Men's wear. __ _
_ do -..
Women's and children's wear
do -..
General use and other fabrics
- do
Blankets
do ._
Other nonapparel fabrics
_ . _ ...do - _ .
Wool yarn:
Production, total*1
thous. of Ib _
Knitting*1
do
Weaving*^
_
do_ _.
Carpet and other*!
__ ..
do
Price, wholesale, worsted yarn, 2/32s (Boston)
dol. per lb_.
146, 588
156,907
137, 358
61,309
61, 037
15,012
12,211
7,338
127, 201
55, 026
56, 859
15,316
11,833
7,554
1
144, 000
125, 310
60, 256
48 841
15, 893
10 994
7,696
114, 799
i 96 942
50 025
34 387
10 459
9 599
8 258
r
72, 968
12, 420
50, 348
10, 200
92, 938
15, 509
63, 591
13, 838
71, 308
11,495
48, 415
11, 398
68, 303
10, 568
46, 486
11, 249
82, 915
12, 495
56,615
13, 805
68, 768
9,712
46, 624
12, 432
65, 276
8,756
43, 624
12, 896
73, 355
8,845
49, 425
15, 085
55 732
6,328
36 892
12, 512
1.900
1.900
1.900
1.900
1.950
1.950
1.950
1,950
1.950
7,553
4,640
3,332
2,500
3,685
r 7, 725
7,307
3,301
13, 281
6,287
7,151
12, 914
7,480
9,867
12, 354
7,205
9,217
13, 194
7,058
9,135
12, 531
7,754
9,423
12,152
7,201
8,386
11,458
6,534
7,897
9,928
6,667
8,419
8,177
5,726
7,121
7,778
4,557
6,034
321
1,740
94
1,646
268
1,332
139
1,193
56 704
r
5, 764
'T 37 824
13, 116
56
5
38
12
1.950
715
750
680
285
1.950
1.950
3, 512
3 727
7,553
4,087
4,561
7,724
5 021
5,382
222
1,102
104
998
156
1,140
211
929
2.000
MISCELLANEOUS PRODUCTS
Fur, sales by dealers
Pyroxylin-coated fabrics :J
Orders, unfilled, end of month
Pyroxylin spread
Shipments, billed
thous. of dol .
thous. lin. yxL.
_ . _ thous. of lb_
thous. lin. yd. .
r
2, 613
r
3, 306
r
TRANSPORTATION EQUIPMENT
AIRCRAFT
Exports, total!
Shipments total*
For U S military customers*
For other customers*
number. _
do _.do
_.do
206
4,229
139
4,090
238
4,668
168
4,500
339
3,093
133
2,960
250
2,021
112
1,909
261
2,277
111
2,166
276
2,013
99
1,914
338
1,922
137
1,785
294
2,143
105
2,038
Exports, assembled, total §
number-Passenger cars §
do __
Trucks§
-- - do
Factory sales, total §
_ do
Coaches total
- - do
Domestic
- do
Passenger cars total
do _ _
Domestic
do -_
Trucks total
do Domestic
_-do
Truck trailers production total*
do
Complete trailers
do _ _
Vans
._ _ _ _ _ _ d o
All other
do __
Chassis shipped as such
_ -_ _-do
Registrations^
New passenger cars
-- - do
New commercial cars
do
27, 371
12, 477
14, 894
328, 795
833
758
232, 280
218,645
95, 682
77, 501
6,578
6,143
2,679
3,464
435
23, 017
11, 832
11,185
391, 727
975
923
283, 586
263, 236
107, 166
88, 207
8,731
8,153
3,987
4,166
578
47, 708
22, 496
25, 212
371, 156
1,146
1,102
269, 081
250, 379
100, 929
79, 138
7,449
7,051
3,147
3,904
398
41, 158
16, 257
24, 901
375, 719
1,438
1, 339
266, 665
244, 931
107, 616
82, 774
6,886
6,506
3,461
3,045
380
40, 268
19, 742
20, 526
347, 696
1,273
1,115
246, 605
226, 695
99, 818
77, 434
7,511
7,194
3,762
3,444
317
41, 678
19, 321
22, 357
373, 360
1,303
1,090
267,015
245, 081
105, 042
83, 276
6,554
6,220
3,258
2,978
334
54, 747
25, 666
29, 081
421, 180
1,421
1,272
301, 525
280, 018
118, 234
92, 082
5,910
5,536
2,662
2,906
374
57, 291
26, 711
30, 580
423, 399
1,650
1,465
314, 765
291, 953
106, 984
83,515
5,245
4,941
2,106
2,867
304
61,478
44, 461
40, 679
51,516
29, 540
22, 591
24, 068
24,317
31,938
21, 870
16,611
27, 199
382, 640 ' 400, 372 f 379, 192 ' 349, 409
1,853
1,628
1,806
1,765
r
1,599
1,409
1,694
1, 570
284, 357
307, 124
279, 631
261, 158
261, 240
284, 576
257, 881
240, 358
96, 430
'91,620 ' 97, 755 ' 86, 486
75, 696
r 73, 613 T 78, 444 r 66, 382
3,544
4,580
2,953
3,174
4,380
3,306
2,779
2,958
1,657
1,437
1,362
1,233
2,723
1,869
1,417
1,725
238
200
174
216
219, 281
69, 565
225, 180
74, 708
230, 424
63, 978
274, 735
69, 453
209, 063
62, 477
214, 333
63, 752
264, 714
79, 344
290, 226
85, 148
286, 719
76, 901
269, 863
65,458
263, 167
71, 647
264, 866
75,912
3,915
3,244
69
34
5,957
3,057
45
45
7,188
2,442
60
60
6,737
2,056
60
60
6,991
2,265
58
58
7,575
1,784
69
69
8,816
2,439
53
53
8,873
3,489
73
73
6,409
3,131
60
60
5,243
4,230
67
63
5,366
4,846
53
45
4,410
4,346
20
20
5,749
5,668
29
29
1,746
1,743
-
MOTOR VEHICLES
420, 270
1,608
1,413
307, 942
285, 590
110,720
89, 724
RAILWAY EQUIPMENT
American Railway Car Institute:
Shipments:
Freight cars total
number
Domestic
- do
Passenger cars, total
__do_ __
Domestic
do
Association of American Railroads:
Freight cars, end of month:
Number owned
thousandsUndergoing or awaiting classified repairs
thousands- _
Percent of total on line
Orders unfilled
cars
Equipment manufacturers
- do __
Railroad shops
do
Locomotives, end of month:
Steam, undergoing or awaiting classified repairs
number. _
Percent of total on line
Orders unfilled:
Steam locomotives, total __ - numberEquipment manufacturers
-. - do_ __
Railroad shops
do
Other locomotives total*
do_ .
Equipment manufacturers*
- - do
Railroad shops*
do
Exports of locomotives, total f
_do_ _
Steam§
_ - _.do
Other f
do
1,742
1,740
1,740
1,738
1,736
1,736
1,734
1,734
1,732
1,730
1,730
73
4.3
53, 727
37, 213
16, 514
67
4.0
52, 817
36, 942
15, 875
67
4.0
54, 413
39, 179
15, 234
67
4.0
54, 778
38, 716
16, 062
66
4.0
60,529
44, 144
16, 385
68
4.1
66, 353
49, 934
16, 419
69
4.2
78,080
60, 446
17, 634
72
4.3
84, 288
63, 935
20, 353
77
4.6
89, 554
66, 466
23, 088
77
4.7
93,159
68, 675
24, 484
81
4.9
94, 232
70, 578
23, 654
81
4.9
97, 392
71,826
25, 566
78
4.8
97, 645
73, 416
24, 229
3,195
8.5
3,147
8.4
3,204
8.5
3,137
8.4
3,175
8.6
3,131
8.5
3,045
8.3
3,011
8.3
2,832
7.8
2,735
7.6
2,778
7.8
2,709
7.6
2,706
7.6
65
53
12
490
490
0
114
66
48
67
57
10
506
506
0
92
58
34
65
57
8
499
499
0
253
141
112
64
57
7
540
540
0
192
49
143
53
48
5
586
586
0
195
78
117
45
42
3
635
635
0
180
119
61
52
51
1
588
588
0
186
73
113
36
36
0
626
626
0
143
71
72
30
30
0
718
717
1
262
133
129
24
24
0
770
770
0
106
19
87
29
29
0
786
785
1
133
57
76
40
40
0
811
810
1
98
9
89
46
36
10
795
794
1
229
220
9
311
293
18
276
258
18
330
306
24
320
294
26
273
251
22
320
283
37
420
377
43
349
307
42
321
288
33
INDUSTRIAL ELECTRIC TRUCKS AND
TRACTORS
Shipments, total
Domestic
Exports
number_.
do. _
do _-
f Revised.
i Includes wool produced for Government orders not included in the detail, 320 thousand yards for first quarter and 2,071 thousand yards for second quarter; prior to 1946, Government
orders were distributed to the proper classifications.
HData for October 1946 and January, April, and July 1947 are for 5 weeks; other months, 4 weeks.
JSee note in April 1946 Survey with regard to changes in these series.
§ Data continue series published in the 1942 Supplement but suspended during the war period. For 1940-45 data for factory sales of motor vehicles see p. 24 of June 1947 Survey. Data
for October 1941-February 1945 for the foreign trade series will be published later. See note on p. S-40 of August 1947 Survey regarding unpublished revisions for registrations.
*New series. For available data for 1937-43 for woolen and worsted goods production, see p. 19 of May 1945 Survey. See note on p. S-39 of July 1947 Survey for source of data on wool
yarn production and explanation of a revision in the data in that issue, and p. S-40 of the April 1947 Survey for source and earliest data published for truck trailers.
Data beginning January
1946 for aircraft shipments are available on request. See May 1946 Survey for description and data beginning March 1945 for unfilled orders of "other locomotives."
tRevised series. Export series for total and "other" locomotives were revised in the May 1946 Survey (see note in that issue).
0. S. G O V E R N M E N T P R I N T I N G O F F I C E : 1 9 4 7
INDEX TO MONTHLY BUSINESS STATISTICS, Pages S1-S40
Pages marked 8
Abrasive paper and cloth (coated)
37
Acids
--—
23
Advertising
-6,7
Agricultural income and marketings
1,2
Agricultural wages, loans
14,15
Air-line operations
22
Aircraft
— 10,11,12,13,14, 40
Alcohol, denatured, ethyl, and methyl
23
Alcoholic beverages
2, 26
Aluminum
32
Animal fats, greases
.
24
Anthracit.
2,4,11,12,13,14,36
Apparel, wearing
4, 6, 7, 8,10,11,12,13,14,38.39
Armed forces
.....
.«-..
9
Asphalt and asphalt products
37
Automobiles
2,3, 7,8,10,11,12,13,14,18
Banking
15,16
Barley
27
Barrels and drums
.......
... 33
Battery shipments
34
Beef and veal
29
Beverages, alcoholic
2,26
Bituminous coal
2,4,11,12,13,14,36
Boilers
34
Bonds, issues, prices, sales, yields
19
Bone black..
24
Book publication
36
Brass
33
Brick
4,38
Brokers' loans
15,18
Building contracts awarded
5
Building costs
_
6
Building construction (see Construction.)
Building materials, prices, retail trade
4, 7, 8
Businesses operating and business turn-over..
3
Butter
27
Candy
29
Cans, metal
.
33
Capital
flotations
18
Carloadings
22
Cattle and calves
28
Cellulose and other plastic products
26
Cement
2,4,38
Cereal and bakery products
4
Chain-store sales
8
Chemfc7rs"I"II"ir2,"3,"4,16,"ll,"l2,"l4,"l8, 23, 24
Cigars and cigarettes
30
Civil-service employees
11
Clay products (see also Stone, clay, etc.)
2,38
Clothing
5, 7, 8,10,11,12,13,14, 38
Coal
2,4,11,12,13,14,36
Cocoa
29
Coffee
29
Coke
-._---2,36
Commercial and industrial failures
3
Construction:
New construction, dollar value
5
Contracts awarded
5
Costs
5,6
Dwelling units scheduled to be started
5
Highway
5, 11
Employment, wage rates, earnings, hours
9, 10
11,12,13,14
Consumer credit
16
Consumer expenditures
1, 7
Consumers' price index
4
Copper
——
33
Copra and coconut oil
25
Corn
19,28
Cost-of-living index (see Consumers' price
index)
4
Cotton, raw, and manufactures
2,
4,5,10,11,12,13,14,38,39
Cottonseed, cake and meal, oil
25
Crops
1, 2, 4, 24, 26, 27
Currency in circulation
18
Dairy products..
1, 2,4, 27
Debits, bank
15
Debt, short-term, consumer
16
Debt, United States Government _
16
Department stores, sales, stocks, collections..
8, 9
Deposits, bank
15,18
Disputes, industrial
13
Distilled spirits
- 26, 27
Dividend payments and rates
1, 19
Drug store sales
.
8
Dwelling units scheduled to be started
5
Earnings, weekly and hourly
13, 14,15
Eggs and poultry
1,4,29
Electrical equipment
2 7,34
26
Electric power production, sales, revenues
Employment estimates
9, 10,11
Employment indexes :^
10,11
Factory, by industries
11
Nonmanufacturing industries
13
Employment security operations
23
Emigration and immigration
.
5
Engineering construction
,
17
Exchange rates, foreign
16
Expenditures, United States Government
24
Explosives
20,21
Exports (see also individual commodities)
9,
Factory, employment, pay rolls, hours, wages.
10,11,12, 13,14
Failures, industrial and commercial
3
1,2
Farm marketings and income
14
Farm wages
2,4
Farm products, farm, and wholesale prices—
Fats and oils
4, 24,25
16,17
Federal Government, finance___
15
Federal Reserve banks, condition of
15
Federal
reporting member banks
Digitized
for Reserve
FRASER
Fertilizers
... -http://fraser.stlouisfed.org/
Fire losses
.....—
Federal Reserve Bank of St. Louis
Pages marked S
Fish oils and
fish
24, 28
Flaxseed
25
Flooring
_
31
Flour, wheat
_
_
_
28
Food products
2.
3,4, 5, 7,8,10,11,12,13,14,17, 26, 27, 28, 29
Footwear
2,4,8,10,12,13,14,30,31
Foreclosures, real estate
6
Foreign trade, indexes, shipping weight, value
by regions, countries, economic classes and
commodity groups
20, 21, 22
Foundry equipment
34
Freight cars (equipment)
.40
Freight car-loadings, cars, indexes
.
22
Freight-car surplus and shortage
.
22
Fruits and vegetables
—- 2,4,27
Fuel equipment and heating apparatus
33
Fuel oils
37
Fuels
2,4,35,36,37
Furnaces
_
-.
33,34
Furniture
2,4,10,11,12,13,14,15
Gas, customers, sales, revenues.............
25
Gasoline
37
Glass and glassware (see also Stone, clay, etc.)38
Gelatin
23
Gloves and mittens
.
31
Glue
24
Glycerin
24
Gold
17
Goods in warehouses
7
Grains
4,19, 27, 28
Gross national product
.
1
Gypsum
38
Heating and ventilating equipment
34
Hides and skins
4,30
Highways
_
__
5,11
Hogs
28,29
Home-loan banks, loans outstanding
6
Home mortgages
6
Hosiery
5,38
Hotels
11,12, 23
Hours of work per week
12,13
Housefurnishings
4, 7, 8
Housing
4,5
Immigration and emigration
23
Imports
20, 21, 22
Income, personal
1
Income-tax receipts
-.
16
Incorporations, business, new
.
3
Industrial production indexes
2
Instalment loans
16
Instalment sales, department stores
8
Insurance, life
17
Interest and money rates
15
Inventories, manufacturers' and trade
3,9
Iron and steel, crude and manufactures
2,
3, 4,10,11,12,13,14,18,31, 32
Kerosene
37
Labor force
9
Labor disputes, turn-over
.
13
Lamb and mutton
29
Lard
29
Lead
33
Leather and products
2, 4, 10,11,12,13,14, 30
Linseed oil, cake, and meal
25
Livestock
1,2,4,28
Loans, real estate, agricultural, bank, brokers'
(see also Consumer credit)
6,15,19
Locomotives
40
Looms, woolen, activity
39
Lubricants
37
Lumber
2, 4,10,11, 12, 13,14, 31
39
Machine activity, cotton, wool
Machine tools
_ _ _ _ _ 10, 11,12, 14,34
Machinery
2, 10, 11,12, 13, 14, 18,34
6,7
Magazine advertising
Mail-order houses, sales
Manufacturers' orders, shipments, inventories.
Manufacturing production indexes
2
Meats and meat packing
2,4, 10, 12, 13, 14.29
Metals
2, 4,10,11,12,13,14, 18,33
24
Methanol
27
Milk
Minerals
2,10,11,12, 13,14
18
Money supply
6,15
Mortgage loans
37
Motor fuel
7,40
Motor vehicles
34
Motors, electrical
....
National product and income -------- _ ---- ..
1
Newspaper advertising _____________________ 6, 7
Newsprint______,_____________- --- .--------.
35
New York Stock Exchange ......... -------- 19, 20
Oats ______ ...... ........................
28
Oil burners _______________________________ 34
Oils and fats ______ -____________________4, 24, 25
Oleomargarine ____________________________ 25
Operating businesses and business turn-over ..
3
Orders, new, manufacturers'
---------------3
Paint and paint materials
-----------------4, 25
Paper and pulp.
..............
-2, 3, 5, 10, 11, 14, 35
Paper products,. __________________________ 35
Passports issued _______________ ..... ------ 23
Pay rolls, manufacturing and nonmanufacturing industries ___________________________ 11, 12
Personal income__________________________1
Personal savings and disposable income
-----1
Petroleum and products
------------------2,
2, 3, 4, 10, 11, 12, 14, 18, 36, 37
Pig iron_______.......-------............. 32
Plant and equipment expenditures
---------1
Plastic products-------------------------. 26
Plywood _________________________________ 31
_
Pork
_.
..
Pages marked 9
29
Postal business
IIIIII--IIII
7
Postal savings
16
Poultry and eggs
__'_
1,4, 29
Prices (see also individual commodities):
Consumers' price index
4
Received and paid by farmers
4
Retail price indexes
4
Wholesale price indexes
4, 5
Printing
2,10,11,14,36
Profits, corporation
18
Public assistance
15
Public utilities
1,4, 5,11,12,13,14,16,18,19, 20
Pullman Company
23
Pulpwood
35
Pumps
34
Purchasing power of the dollar
5
Pyroxylin coated fabrics
.
40
Radio advertising
<J, 7
Railways, operations, equipment, financial statistics, employment, wages
,
1,
11,12,13,14,15,17,18,19, 20, 22,40
Railways, street. (See Street railways, etc.)
Rayon, and rayon manufactures
2,
5.10,11,12,13,14,39
Receipts, United States Government
16
Reconstruction Finance Corporation, loans
17
Rents (housing), index
_
__I
4
Retail trade, all retail stores, chain stores,
department stores, mail order, rural sales,
general merchandise
.._ 7,8, 9
Rice
28
Roofing and siding, asphalt—
37
Rosin and turpentine
24
Rubber, natural, synthetic and reclaimed,
tires, and tubes
37,38
Rubber industry, production index, shipments,
inventories, employment, pay rolls, hours,
earnings
2, 3.10,12,14
Savings deposits
- - _ _ 16
Savings, personal
1
Securities issued
18,19
Service industries employment
9
Sewer pipe, clay
_
38
Sewing machines
34
Sheep and lambs
28, 29
Shipbuilding
10,11,12,13,14
Shipments, manufacturers'
3
Shoes
2, 4, 8,10,11,12, 13,14, 31
Shortenings
»
25
Silver
17
Skins
30
Slaughtering and meat packing. 2,10,11, 12,14, 27, 28
Soybeans, and soybean oil
25
Spindle activity, cotton, wool
39
Steel ingots and steel manufactures (see also
Iron and steel)
32,33
Steel, scrap
31,32
Stocks, department stores (see also Manufacturers' inventories)
9
Stocks, dividends, issues, prices, sales, yields,. 19, 20
Stokers, mechanical
34
Stone, clay, and glass products
2,
10,11,12,13,14,38
Stoves
34
Street railways and busses
11,12,13,14
Sugar
_
29
Sulphur
24
Sulfuric acid.
_
23
Superphosphate
24
Tea
30
Telephone, telegraph, cable, and radio-telegraph carriers
11,12, 13,14,23
Textiles—
2, 3, 5,10,11, 12, 13, 14, 38, 39, 40
Tile
38
Tin
___
33
Tires and inner tubes
37,38
Tobacco
2,4, 10, 11, 13, 14,30
Tools, machine
10, 11, 12, 13, 14,34
Trade, retail and wholesale
7, 8, 9, 11, 12,13, 14
Transit lines, local
22
Transportation, commodity and passenger
22, 23
Transportation equipment
2,
3,10,11,12,13,14,18,40
Travel
22, 23
Truck trailers
40
Trucks
40
Turpentine and rosin
.
24
Unemployment and unemployment compensasation
9,13
United States Government bonds
16,18,19
United States Government,
finance
16,17
Utilities.
4, 5, 9,11,12,13,14, 18, 19, 20
Vacuum cleaners
Variety stores
Vegetable oils
Vegetables and fruits
Vessels cleared in foreign trade
Veterans' unemployment allowances
34
8
24, 25
2,4, 27
23
13
Wages, factory and miscellaneous
13,14
War expenditures
16, 17
War Savings Bonds
6
Warehouses, space occupied
7
Washers
34
Water heaters
34
Wheat and wheat
flour
19, 28
Wholesale price indexes
4, 5
Wholesale trade
9
Wood pulp
2,5,35
Wool and wool manufactures
2,
5,10,11,12,13,14,40
Zinc
33
Department of Commerce
Field Service
(November 17,1947)
Albuquerque, N. Mex., 203 W. Gold Ave.
Atlanta 1, Ga., 50 Whitehall St., SW.
Los Angeles 12, Calif., 312 North Spring
St.
Baltimore 2, Md., 103 S. Gay St.
Louisville 1, Ky., Sixth and Broadway
Boston 9, Mass., 2 India St.
Memphis 3, Tenn., Madison at Front St.
Buffalo 3, N. Y., 117 Ellicott St.
Miami 32, Fla., 36 NE. First St.
Butte, Mont., 14 W. Granite St.
Milwaukee 1, Wis., 517 E. Wisconsin Ave.
Charleston 3, S. C., 18 Broad St.
Minneapolis 1, Minn., Second Ave. S. and
Third St.
Charleston, W. Va., 103 U. S. Court House
Mobile, Ala., 308 Federal Bldg.
Charlotte 2, N. C., 112^ E. Fourth St.
New Orleans 12, La., 333 St. Charles Ave.
Cheyenne, Wyo., Twenty-first St. and Carey
Ave.
New York 1, N. Y., 350 Fifth Ave.
Oklahoma City 2, Okla., 102 NW. Third
Chicago 4, 111., 332 S. Michigan Ave.
Omaha 2, Nebr., 405 S. Sixteenth St.
Cincinnati 2, Ohio, Fourth and Race Sts.
Philadelphia 2, Pa., 42 S. Fifteenth St.
Cleveland 14, Ohio, Euclid Ave. at E. Ninth
St.
Phoenix 8, Ariz., 234 N. Central Ave.
Dallas 2, Tex., 1114 Commerce St.
Pittsburgh 19, Pa., Seventh Ave. and Grant
St.
Denver 2, Colo., 828 17th St.
Portland 4, Oreg., 520 SW. Morrison St.
Detroit 26, Mich., 230 W. Fort St.
El Paso 7, Tex., 12 Chamber of Commerce
Bldg.
Providence 3, R. I., 24 Weybossett St.
Reno, Nev., 50 Sierra St.
Richmond 19, Va., 801 E. Broad St.
Fargo, N. Dak., 621 First Ave., N.
St. Louis 1, Mo., 1114 Market St.
Hartford 1, Conn., 135 High St.
Salt Lake City 1, Utah, 508 Post Office Bldg.
Houston 14, Tex., Fannin at Franklin St.
San Francisco 11, Calif., Washington and
Battery Sts.
Jacksonville 1, Fla., 311 W. Monroe St.
Juneau, Alaska, Fourth and Seward Sts.
Savannah, Ga., 218 U. S. Court House and
Post Office Bldg.
Kansas City 6, Mo., 911 Walnut St.
Seattle 4, Wash., First and Marion Sts.
@FedFRASER