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UNITED STATES

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INTRODUCTION

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,.
' of that month's operations, including relative numbers,
I in printed form urider 45 days after its close, but the advance'

UNITED STATES DEPARTMENT OF COMMERCE
WASHINGTON

SURVEY OF
CURRENT BUSINESS
COMPILED BY
BUREAU OF THE CENSUS

BUREAU OF FOREIGN AND DOMESTIC COMMERCE

BUREAU OF STANDARDS

SEPTEMBER

No. 49

1925

CONTENTS
TEXT MATERIAL

Page

1
Preliminary summary for August
Course of business in July:
General conditions
7
Summary of indexes of business
8
Review, principal branches, industry and commerce-- 10
BASIC CHARTS

Business indicators
Wholesale prices in August
Employment in manufacturing industries
Production, stocks, and unfilled orders
Comparison of wholesale and retail food price indexes

2
4
6
8
9

GENERAL TEXT TABLES

Business indicators
Wholesale price comparisons
Business summary
Indexes of business (production, prices, sales, etc.)

3
5
7
22

TREND OF BUSINESS MOVEMENTS

Textiles
Metals and fuels
.
Automobiles and rubber
Hides and leather
Paper and printing
*
Buttons, glass, and optical goods
Building construction and housing
Chemicals and oils
Foodstuffs and tobacco
Transportation and public utilities
Employment
Distribution movement
Banking and finance and foreign exchange
United States foreign trade
Canadian trade and industry

Page

26
27
30
30
31
32
32
34
35
38
40
40
41
43
44

NEW DETAILED DATA

Real-estate securities

25

PRELIMINARY SUMMARY FOR AUGUST
After several months of continuously declining
production, activity in the iron and steel industry in
August showed marked improvement, the production
both of pig iron and of steel ingots increasing over the
preceding month as well as over August, 1924. Shipments of locomotives, although less than a year ago,
also increased considerably from the previous month.
Unfilled orders on the books of the principal manufacturers at the end of August, on the other hand,
continued to decline and were less than a year ago.
Deliveries of silk to consuming establishments were
only slightly larger than in July but showed a considerable increase over those reported a year^ ago.
Activity in the cotton industry, however, as evidenced
both by the consumption of cotton and by the number
of active spindles, continued to decline, although in
both respects the industry was in a much better con59392—25f




1

dition than in August, 1924. Deliveries of tin and
production of zinc were each only slightly greater
than in the previous month, but were much larger
than a year ago.
Sales by mail-order houses and 10-cent chain stores
were each larger than for either the previous month or
August, 1924. Interest rates, both for speculative
and for commercial loans, advanced slightly from
July, this being accompanied by a slight recession in
the prices of most types of bonds. Prices of the leading stocks and of United States and foreign government bonds averaged slightly higher than during the
previous month. Loans and discounts of the Federal
reserve member banks continued to mount.
Business failures, while fewer in number, were larger
in the amount of defaulted liabilities than in July,
but were less in both respects than in August, 1924.

2

BUSINESS INDICATORS:

1920-1925

[Ratio charts—see explanation on inside front cover. Except for "Net freight ton-miles," latest month plotted is July, 1925; June is latest plotted for "Net freight ton-miles,'
while the curve on bank debits has been adjusted for normal seasonal variations and that on manufacturing production for the varying number of working days]

I920 1 192!' I9221 I9231 !924'i925
300

200

RELATIVE TO 1913 AS 100

I920'f92l ' 1922' 1923 ! 1924'!925
RELATIVE TO 1919 AS 100

300

INTEREST RATES, COMMERCIAL PAPER

WHOLESALE PRICES (DEPT.OFLABOR)

DEPT. STORE TRADE (359 STORES)

MAIL-ORDER SALES
(4 HOUSES)

200

100
ARM

PRICES CDEPT. OF AGRICULTURE)

100 ^"""S. f*rv ^*t
80

—-\
Tf
60
40

b-*.

- ^^^

^^\irtfV W

P^ ^^

Ay
r*r\"\TON CO NSUMPT f~\M
OO 1

UN

GENERAL MANUFACTURING PRODUCTION 60
(64

COMMODITIES)

PRODUCTION
( 5 SPECIES)

AUTOMOBILE PRODUCTION
( PASSENGER CARS AND TRUCKS)

FACTORY

20




EMPLOYMENT

20

BUSINESS INDICATORS
IDhe following table gives comparative relative numbers for a selected list of important business movements. It is believed
t12iis table will prove useful, because it separates out from the large mass of material a comparatively small number of items
Which are often regarded as indicative of business in general.
The table has been divided into two parts, the first containing those items for which relative numbers can be calculated, using
1913 as a base. The second part contains items for which comparable data back to 1913 are not available. _ This latter group of
-relative numbers is calculated by letting the 1919 monthly average equal 100. Care should therefore be exercised in comparing the
absolute value of the two sets of data. In either group, however, the upward or downward trend of the relative numbers, compared
to previous months, does reflect the present tendency in each item and will give a basis for business judgment.
Where available at the time of going to press, September 15, indicators have been included, thus bringing this
table up to date. It should be noted that the charts on page 2 show July data as the latest plotted, except for
freight ton-miles, which shows June.
1924

MONTHLY AVERAGE

1925

COMMODITY

\m mi

1922 19*3 1924

May June July Aug. Sept. Oct. Nov. Dec. Jan. Feb. Mar. Apr. May June July Aug.
1913 monthly average=100

Production:
Pig iron
*
120
135
Steel ingots .
.
. . .
Copper
99
Cement (shipments)
108
98
Anthracite coal
._
119
Bituminous coal
Electric energy (gross revenue sales)
283
178,
Crude petroleum
Cotton (consumption) __
_.
105
Beef
119
Fork ..
113
Unfilled orders:
United States Steel Corporation
170
Stocks:
Crude petroleum
..
.
. . . 127
Cotton (total)
_
155
Prices:i
Wholesale index _
226
Retail food
203
Retail coal, bituminous .
207
Farm products..
_.
205
Business finances:
Defaulted liabilities
. .. 108
Price 25 industrial stocks
_
184
Price 25 railroad stocks
67
Banking:
Clearings, New York City
257
Clearings, outside
275
Commercial paper interest rate
134
distribution:
Imports (value)
_
294
Exports (value)
331
Sales, mail-order
264
Transportation:
Freight, net ton-miles
137

54
64
38
107
99
87
312
189
97
113
117

87 130 101
114 144 122
80 120 128
131 153 164
99
58 104
85 118 101
349 407 434
224 295 285
99
109 117
126 130 133
130 160 151

102
105
127
197
102
81
417
298
89
135
151

79
82
124
203
101
79
399
286
75
116
154

70
74
126
225
102
84
382
295
75
132
153

74
101
130
228
93
90
386
298
77
135
115

80
112
124
228
100
106
397
288
94
146
103

97
124
134
231
101
121
427
289
114
167
118

98
124
133
139
89
106
462
272
106
149
152

116
141
131
74
97
116
506
273
114
134
191

132
166
144
69
97
130
522
287
127
146
199

126
149
134
81
94
98
480
261
118
105
152

139
166
145
139
93
94
457
292
125
129
115

127
142
137
195
98
85
449
297
128
131
109

114
137
137
226
107
89
428
329
114
132
116

104
127
136
237
102
93
420
322
106
127
136

325
104
145
107

104 106
122 136
131
245
112
99

96

90

96

102

68

61

55

54

56

59

60

68

82

85

89

82

75

69

63

60

59

152
198

234
153

287
125

338
112

334
74

339
59

343
45

349
44

350
84

348
161

346
193

338
193

335
172

337
150

337
126

340
103

344
80

61

45

56

147
153
197
116

149
142
188
124

154
146
190
135

150
146
169
134

147
141
163
129

145
142
163
130

147
143
165
132

150
144
159
139

149
147
164
132

152
149
169
138

153
150
171
137

157
152
171
139

160
154
170
146

161
151
172
146

161
151
169
151

156
151
161
147

155
152
159
146

157
155
158
148

160
160
159
149 152

229
136
64

228
169
75

197
185
72

198
198
81

160
183
75

149
187
78

161
195
82

242
205
86

150
201
85

158
202
84

136
213
92

198
231
95

238
233
96

176
238
98

149
235
95

163
233
92

162
245
96

161
248
96

151 163
256 270
97 100

205
212
118

230
230
80

226
276
90

264
284
71

263
277
77

253
266
71

268
282
64

258
265
59

245
277
57

274
314
57

284
290
59

325
317
64

339
322
66

267
273
66

296
309
71

290
308
72

302
297
70

305
317
70

297
323
71

140
181
188

177
154
204

212
168
259

201
185
284

203
161
243

183
148
239

185
134
196

170
160
211

192
207
279

208
255
364

198
238
351

224
214
411

232
216
308

223
179
299

258
219
318

233
193
322

219
179
262

218
156
271

218 251
164 185
248 255

105

115

139

131

124

117

121

133

143

158

139

128

135

123

129

123

136

131

72

1919 monthly average=100
Production:
Lumber *
Building contracts
Stocks:
Beef -..
_
Pork
Business finances:
Bond prices (40 issues)
Banking:
Debits outside New York City
Federal ReserveBills discounted
Total reserves
Ratio

102
72

86
69

117
102

133
106

129
108

141
124

130
103

119
88

139
90

135
93

140
102

126
105

110
100

121
91

122
83

136
138

143
157

146
148

151
143

143
145

66
98

42
83

29
70

32
91

34
88

28
111

25
111

21
104

21
91

20
61

28
44

42
46

60
70

59
85

55
94

49
90

41
88

31
81

26
96

21
89

86

87

107

104

108

106

108

110

110

109

110

110

110

110

94

111

111

113

114

112 111

114

91

95

107

108

106

104

106

101

104

119

107

124

127

106

121

117

116

124

123

132
97
80

91
122
122

28
144
154

39
146
152

19
146
160

22
147
165

18
149
165

15
149
165

14
146
164

13
144
160

12
143
157

11
143
154

16
139
145

14
141
155

22
138
151

21
137
154

21
137
154

21
136
153

24
135
153

24 30
134 132
154 149

1 Wholesale and retail prices from Department of Labor averaged for the month; farm prices from Department of Agriculture.
2
Based on the total computed production reported by 5 associations. Includes southern pine, Douglas fir, western pine, North Carolina pine, and California white
pine. The total production of these associations in 1919 was equal to 11,401,000,000 board feet, compared with a total lumber production for the country of 34,552,000,000
board feet reported by the census.




WHOLESALE PRICES IN AUGUST
[Bars denote percentages of increase or decrease in the wholesale prices of specified commodities as compared with the same month of 1924 and 1923]
COMPARISON WITH
PREVIOUS MONTH
DECREASE INCREASE

COMMODITIES

20

10

0

10

2d

COMPARISON WITH SAME MONTH
1923
DECREASE
INCREASE

COMPARISON WITH SAME MONTH
1924
DECREASE
INCREASE
50 40

30

20

10

0

10

20

30

40

SO 60

70

8050 40

30

20

10

0

10

20

30

40

50 60

10

Q

10

20

30

40

50

FARM PRODUCTS. AVERAGE PRICE TO PRODUCER
WHEAT
CORN POTATOES
COTTON
COTTONSEED -CATTLE, BEEFHOGS—--———
LAMBS
WHEAT. SPRING
WHEAT. WINTER
CORN, N0,2
OATS
BARLEY
RYC/N0.2

-

-

"—

TOBACCO, BURLEY
COTTON--—WOOL \ GREASE (BOSTON)CATTLE. STEER$
HOGS. HEAVY-- —
SHEEP. EWES
-—
SHEEP. LAMBS
FLOUR. SPRINGFLOUR, WINTER

-

SUGAR, RAW
SUGAR. GRANULATED""
COTTONSEED OIL
BEEF, CARCASS
BEEF, STEER ROUNDS
HAMS. SMOKED (CHICAGO)-—
COTTON YARN
COTTON PRINT CLOTH-COTTON.SHEETING
WORSTED YARNWOMEN'S DRESS GOODS
SUITINGS
—SILK. RAW
HIDES. PACKER'SHIDES. CALFSKINS
LEATHER. CHROME ( BOSTON )-LEATHER. SOLE , OAK
BOOTS AND SHOES (BOSTON)-BOOTS AND SHOES (ST. LOUIS)COAL, BITUMINOUSCOAL. ANTHRACITE30KE
PETROLEUM
PIG IRON. FOUNDRY
PIG IRON, BASIC
STEEL BILLETS, BESSEMER
COPPER

-

LEAD
TIN
ZINC
LUMBER. PINE. SOUTHERN LUMBER. DOUGLAS FIR —BRICK, COMMON (NEWYORK)CEMENT
STEEL BEAMS
RUBBER, CRUDE
SULPHURIC ACID




20 10

Q

10 20

DECREASE INCREASE

50 40

30

20

10

0

I0

DECREASE

20

30

40

50

60

INCREASE
* CHANGE

70

80

90 100

20

DECREASE

if if NO QUOTATION AVAILABLE

INCREASE

70

80

WHOLESALE PRICE COMPARISONS
NOTE.—Prices to producer on farm products and market price of wool are from 17. S. Department of Agriculture Bureau of Agricultural Economics- nonferrous metals
from the Engineering and Mining Journal-Press. All other prices are from U. 8. Department of Labor, Bureau of Labor Statistics. As far as possible all quotations represent
prices to producer or at mill. See diagram on page 4.
PEE CENT

ACTUAL PRICE

INCREASE (+)
OR DECREASE (— )

(dollars)

Unit

COMMODITIES

August,

RELATIVE PRICE

(1913 average=100)

July,
1925

August,
1925

August,
1924

from
July,
1925

August,
1925,
from
August,
1924

1.403
1.044
1.255
.234
36.41
.0655
.1202
.1171

1.504
1.065
1.554
.234
36.63
.0658
.1219
.1180

1.168
1.074
1.113
2.78
38.44
.0567
.0854
.1015

+7.1
+2.0
+23.8
0.0
+0.6
+0.5
+1.4
+0.8

+28.8
-0.8
+39.6
-15.8
-4.7
+16.0
+32.2
+16.3

177
169
210
195
167
111
160
192

190
172
260
195
168
112
163
193

147
174
186
232
176
96
114
166

1.591
1.589
1.065
.475
.883
.979
25.00
.248
.52
11. 563
13. 794
6.813
14. 656

1.639
1.680
1.052
.415
.809
1.069
25.00
.238
.51
12. 075
13.130
6.400
14. 600

1.356
1.315
1.170
.528
.853
9.19
24.50
.293
.48
9.481
9.613
5.969 '
13.281

+3.0
+5.7
-1.2
-12.6
—8.4
+9.2
0.0
-4.0
-1.9
+4.5
-4.8
-6.0
-0.4

+20.9
+27.8
-10.1
-21.4
—5.2
+16.3
+2.0
-18.8
+6.3
+27.4
+36.6
+7.2
+9.9

174
161
170
126
141
154
184
194
208
136
165
145
188

176
170
168
110
129
168
189
186
204
142
157
137
187

149
133
187
140
136
144
186
229
192
112
115
127
170

8.650
6.950
.043
.053
.114
.178
.192
.293

8.831
7.570
.044
.054
.113
.185
.188
.298

7.538
6.225
.054
.066
.139
.165
.169
.222

+2.1
+8.9
+2.3
+1.9
+0.9
+3.9
-2.1
+1.7

+17.2
+21.6
+18.5
+18.2
+18.7
+12.1
+11.2
+34.2

189
181
122
123
158
137
147
177

193
197
124
125
156
142
144
180

164
162
154
155
193
127
129
134

.415
.065
.096
1.700
1.035
3.600
6.321
.166
.218
.460
.460
6.40
5.15

.423

.469

+1.9

-9.8

.104
1.650

.116
1.600

+8.3

-10.3

3.600
6.468
.176
.213
.460
.460
6.40
5.15

3.600
6.076
.156
.194
.460
.440
6.250
4.850

0.0
+2.3
+6.0
-2.3
0.0
0.0
0.0
0.0

0.0
+6.5
+12.8
+9.8*
0.0
+4.5
+2.4
+6.2

168
188
156
219
184
233
174
90
115
171
103
206
163

233
178
96
113
171
103
206
163

189
202
189
206
184
233
167
85
103
170
99
201
153

Short ton__ 3.39
Long ton... 11.07
Short ton. _ 2.91
Barrel
1.800

3.39
11. 158
3.19
1.720

3.39
11. 337
3.00
1.375

0.0
+0.8
+9.6
4.4

0.0
-1.9
+6.3
+25.1

154
208
119
193

154
210
131
184

154
198
123
147

Long ton... 20.26
Long ton... 18.00
Long ton... 35.00
.139
Pound
Pound
.0815
Pound
.567
.0721
Pound

20.26
18.00
35.00
.145
.0919
.567
.0758

20.88
19.00
87.75
.133
.0783
.514
.0618

0.0
0.0
-7.9
+4.3
+12.8
0.0
+5.1

-3.0
-5.3
-7.3
+9.0
+17.4
+10.3
+22.7

127
122
136
91
187
128
131

127
122
136
95
210
128
138

131
129
146
87
179
116
112

44.66
Mfeet
16.50
M feet
Thousand.. 15.50

45.31
17.50
15.36

39.56
16.00
13.50

+1.6
+6.1
-0.9

+14.5
+9.4
+13.8

194
179
236

197
190
234

172
174
206

0.0
3.5
-19.6
0.0

0.0
-10.2
+21. 42
0.0

173
132
102
70

173
128
82
70

173
142
26
70

1925,

July, August, August,
1925
1924
1925

FARM PRODUCTS— AVERAGE PRICE TO PRODUCERS
Wheat
Horn
Potatoes
Cotton
.
Cottonseed
Cattle, beef
Hogs
Lambs

Bushel
Bushel
Bushel
Pound
Ton
Pound
Pound.
Pound

_

FARM PRODUCTS— MARKET PRICE
Wheat, No. 1, northern, spring (Chicago)
Bushel
Wheat, No. 2, red, winter (Chicago)
Bushel
Corn, contract grades, No. 2, cash (Chicago)
Bushel
Oats, contract grades, cash (Chicago).. .
„___
.
Bushel
Barley, fair to good, malting (Chicago) .
Bushel
Rye, No. 2, cash (Chicago)
.
.
Bushel" .
Cwt
Tobacco, burley, good leaf, dark red (Louisville)
Cotton, middling upland (New York)
....
Pound
Pound
Wool, & blood combing, Ohio and Pennsylvania fleeces (Boston) _
Cattle, steers, good to choice, corn fed (Chicago)
__
Cwt
Hogs, heavy (Chicago)
Cwt
Sheep, ewes (Chicago)
.
. .. Cwt
Sheep, lambs (Chicago)
Cwt
FOOD
Flour, standard patents (Minneapolis)
Flour, winter straights (Kansas City)
..
Sugar, 96° centrifugal (New York)
Sugar, granulated, in barrels (New York)
;_
Cottonseed oil, prime summer yellow (New York)
Beef, fresh carcass good native steers (Chicago)
Beef, fresh steer rounds No. 2 (Chicago)
Pork, smoked hams (Chicago)
..

.
. . _.
.

.
.. -

Barrel
Barrel .
Pound
Pound
Pound
Pound
Pound
Pound

•

CLOTHING
Cotton yarns, carded, white, northern, mulespun, 22-1 cones (Boston)
Pound
Yard
Cotton, print cloth, 27 inches, 64 x 60-7.60 yards to pound (Boston)
Cotton, sheeting, brown 4/4 Ware Shoals L. L. (New York)
Yard
Worsted yarns, 2/32's crossbred stock, white, in skein (Boston)
^.. Pound.. _.
Women's dress goods, storm serge, all-wool, dbl. warp, 50 in. (N. Y.) . . Yard _ .
Yard
Suitings, wool, dyed blue, 55-56 inches, 16-ounce Middlesex (N. Y.)
Silk, raw Japanese, Kansas No. 1 (New York)
_..
Pound
Hides, green salted, packer's heavy native steers (Chicago)
Pound
Hides, calfskins, No. 1, country, 8 to 15 pounds (Chicago)
Pound
Leather, chrome calf, dull or bright "B" grades (Boston)
Square foot.
Leather, sole, oak, scoured backs, heavy (Boston)
Pound
Boots and shoes, men's black calf, blucher (Massachusetts)
Pair
Boots and shoes, men's dress welt tan calf (St. Louis)
Pair

171
170
212

FUEL
Coal, bituminous, mine run lump, Kanawha (Cincinnati)..
_
Coal, anthracite, chestnut (New York tidewater)
Coke, Connellsville (range of prompt and future) furnace — at ovens
Petroleum, crude, Kansas-Oklahoma— at wells
.
METALS
Pig iron, foundry No. 2, northern (Pittsburgh)
Pig iron, basic, valley furnace
Steel, billets Bessemer (Pittsburgh)
Copper ingots, electrolytic, early delivery (New York)
Lead, pig, delivered, for early delivery (New York)
Tin, pig, for early delivery (New York)
Zinc, slpb, western (St. Louis)

_.
.
.

BUILDING MATERIAL AND MISCELLANEOUS
Lumber, pine, southern, yellow flooring, 1x4, "B" and better (Hattiesburg district)
..
.
Lumber, Douglas fir, No. 1, common, s 1 s, 1 x 8 x 10 (Washington)
Brick, common red, domestic building (New York)
Cement, Portland, net without bags to trade, f. o. b., plant (Chicago
district)
Steel beams, mill (Pittsburgh)
Rubber, Para Island, fine (New York)
Sulphuric acid, 66° (New York)




Barrel
Cwt
Pound
Cwt

1.75
2.00
.825
.07

1.75
1.93
.663
.07

1.75
2.15
.211
.07

EMPLOYMENT IN MANUFACTURING INDUSTRIES BY MAJOR GROUPS
{Drawn from data compiled by U. S. Department of Labor, and representing weighted indexes based upon number of wage earners in the respective industries in 1919.
Average monthly employment 1923=100. July, 1925, is latest month plotted]

I

I

I

I

I

I

1

I

!

I

l

l

I

I

I

VEHICLES FOR LAND TRANSPORTATION

AMPED AND ENAMELED WARE OTHER THAN IRON
AND STEEL

TOBACCO M/ NUFACTURES

s^N

\r\ -s—y\

100

, - - ! - . -1




1-

1

!

1

i

i

i

-yi

i

i

BUSINESS SUMMARY
(Index and relative numbers based on the 1919 monthly average as 100—except unfilled orders which are based on the 1920 average—enable comparisons to be made of the
relative condition of the several phases of business. The use of index and relative numbers is more fully explained on the inside front cover, and details of this summary are given in the table entitled "Indexes of Business," beginning on p. 22]
YEARLY
AVERAGE

PER CENT INCREASE (-J-)
OR DECREASE (— )

1925

1924

•
1923

1924

May

June

119

July

May

June

July

July, 1925,
from
June, 1925

July, 1925,
from
July, 1924

PRODUCTION:
Manufacturing (64 commodities— Adjusted) 1
Raw materials, total
Minerals
Animal products
Crops
Forest products
Electric power
Building (awards— floor space) _ _

113
131
117
102
121
144
106

114
118
122
117
118
119
152
108

108
94
120
124
60
132
148
124

104
89
117
117
56
120
141
103

101
97
121
117
73
111
142
88

127
'91
131
114
55
132
160
148

127
92
131
120
55
125
160
143

127
97
136
111
69
118

+ 0.8
+ 5.4
+ 3.8
-7. 5
+ 25. 5
-5. 5

+ 26.7
0.0
+ 12.4
-5. 1
-5.5
+ 6.3

145

+ 1.4

+ 64.8

STOCKS (45 commodities; seasonal adjustment)
UNFILLED ORDERS (relative to 1920)

119
74

135
52

141
47

134
43

130
44

143
53

140
51

127
51

-9.3
0.0

-2. 3
+ 15.9

SALES (based on value) :
Mail-order houses (4 houses)
Ten-cent chains (5 chains)- _ _ _
Wholesale trade
Department stores (359 stores)

99
165
83
124

105
185
82
125

90
174
77
127

89
162
76
120

69
163
78
91

95
191
79
128

102
187
83
126

89
183
83
96

-12. 7
-2. 1
0. 0
-23. 8

+ 29.0
+ 12.3
+ 6.4
+ 5.5

PRICES (recomputed to 1919 base) :
Producers', farm products
Wholesale, all commodities
Retail food _ _ _
Cost of living (including food) _

65
75
78
94

64
73
78
95

62
71
76
94

62
70
76
94

63
71
77
94

70
75
82
96

71
75
83
97

71
76
86
98

0.0
+ 1.3
+ 3.6
+ 1.0

+ 12.7
+ 7.0
+ 11.7
+ 4.3

CHECK PAYMENTS (141 cities— Seasonal adjustment)
FACTORY EMPLOYMENT (1919 base)

103
93

109
84

107
84

104
81

108
79

124
84

126
83

127
82

+ 0.8
-1.2

+ 17.6
+ 3.8

TRANSPORTATION :
Net freight ton-mile operation
Car loadings (monthly total)
Net available car surplus (end of mo.) _ _

115
119
25

108
116
139

103
128
205

97
104
216

100
101
195

112
139
196

109
113
186

112
160

-0.9
-14.0

+ 10! 9
-17.9

1

See p. 28, Jan., 1925, issue (No. 41) for details of adjustment. Unadjusted index for current months given in "Indexes of Business," p. 22, this issue.

COURSE OF BUSINESS IN JULY
GENERAL CONDITIONS
Industrial output in July was 1 per cent greater
than in June and 27 per cent above a year ago. The
production of raw materials, while the same as a
year ago, was greater than in the previous month.
Building activity, as expressed by construction contracts awarded, was larger in floor space than in either
the preceding month or July, 1924,% while in value a
considerable increase over last year was also reported.
Commodity stocks, after adjustment for normal
seasonal conditions, were smaller at the end of July
than on either June 30 or a year ago, while manufacturers7 unfilled orders, after several months of continuous decline, showed no change at the end of July
from the end of previous month.
The volume of wholesale trade was the same as in
June, but greater than a year ago, while retail trade
registered a seasonal decline from June and substantial
increases over last year. Check payments after adjustment for seasonal influences were greater in July than



in either the previous month or July, 1924, while
loadings of freight cars, though smaller than in June,
were well above last year.
Prices, both wholesale and retail, averaged higher
than in the preceding month, while those paid to
producers of farm products showed no change. As
compared with last year, increases in prices ranged
from 4 per cent in the case of cost of living to 13 per
cent in the case of farm products prices to producers.
Factory employment continued to decline in July, but
was 4 per cent greater than last year. Factory pay
rolls also declined from the previous month, but were
11 per cent larger than a year ago.
Fewer business failures were reported in July than
in either the previous month or a year ago, while
defaulted liabilities of failing concerns, though larger
than a year ago, were also smaller than in June.
Prices of stocks, both industrial and railroad, continued to advance, while bond prices declined.

SUMMARY OF INDEXES OF BUSINESS
PRODUCTION

July production showed an increase of 1 per cent
in manufacturing over the previous month and 27
per cent over a year ago, all classes of manufactures
participating in this general advance over the previous
month, except iron and steel, lumber, and paper and
printing, which declined. As compared with a year
ago, each group was higher, except foodstuffs.
The production of raw materials was 5 per cent
greater than in the previous month but the same as
in July, 1924, the declines in the output of forest
products and in the marketings of animal products
being insufficient to offset the increased marketings of
crops. Mineral production was 4 per cent greater
than in the previous month, the only decreases being
in the output of copper and lead. As compared with

a year ago, mineral production was 12 per cent
greater, all groups increasing over that period. Marketings of animal products were, on the whole, 8 per cent
smaller than in June and 5 per cent smaller than a year
ago, the increased movement to market of wool, cattle
and calves, sheep, poultry, and milk being insufficient
to offset the declines from June which occurred in the
July marketings of hogs and eggs. Crop marketings
were 26 per cent greater than in June, but 6 per cent
smaller than a year ago, the principal declines from a
year ago occurring in the marketings of vegetables and
cotton products. A decline of 6 per cent in the production of forest products from the previous month was
due to smaller output of lumber, while the increase over
the previous year was general in all classes of forest
products except gum, which showed a decline of 1
per cent.

RELATIVE PRODUCTION, STOCKS, AND UNFILLED ORDERS FOR MANUFACTURED COMMODITIES
[1920 monthly average= 100. This chart shows stocks of manufactured commodities only, while adjustment has been made for both stocks and production for their
respective seasonal movements. Unfilled orders are principally those for iron, steel, and building materials. July, 1925, is latest month plotted]
160

COMMODITY STOCKS

The index of stocks of commodities held on July 31,
after adjustment for normal seasonal variations,
declined 7 per cent from the previous month and
showed no change from a year ago, all classes of commodities reporting declines from the previous month.
Compared with a year ago, raw foodstuffs alone




showed an increase, which was sufficient to
the decline in manufactured foodstuffs and
manufactured commodities. The chart above
clearly the trend of commodity stocks since the
ning of 1925.

oftse
other
shows
begin-

SALES

The index of unfilled orders showed no change from
the preceding month, but was 16 per cent greater on

July 31 than a year ago. Increased forward business
for building materials over June 30 was offset by
smaller unfilled orders for iron and steel.
The index of wholesale trade showed no change from
June, increases in groceries, drugs, and dry goods
being balanced by declines in hardware, shoes, and
meats. Increases over a year ago in wholesale trade
were general in all lines, ranging from 1 per cent for
drugs to 15 per cent for meats.
Retail trade declined seasonally from June. Compared with a year ago, mail-order sales were 25 per
cent larger and ten-cent-store sales 12 per cent greater.
Department-store trade was 6 per cent larger than in
July, 1924, while other chain stores, for which data

are available, reported increases overja year ago,
ranging from 2 per cent for candy to 44 per cent for
music.
PRICES

Producers, on the whole, received slightly more for
their agricultural products than in June, and 13 per
cent more than a year ago. Increases over the
previous month occurred in the prices of meat animals,
dairy and poultry products, and cotton and cottonseed, while declines were noted in the prices of grain
and fruit and vegetables, all classes showing increased
prices over a year ago, except cotton and^unclassified
groups.

COMPARISON OF WHOLESALE AND RETAIL FOOD PRICE INDEX NUMBERS
WITH INDEX OF ALL COMMODITIES AT WHOLESALE
(U S. Department of Labor index numbers. Relative prices, 1913== 100. July, 1925, is latest month plotted!

The wholesale price index increased 2 per cent over
June and was 9 per cent higher than in July, 1924,
increases over the previous month occurring in farm
products, food, cloths and clothing, and miscellaneous
items being sufficient to more than offset declines in
metals and house furnishings and building materials.
Compared with a year ago, all classes showed increases except fuel, metals, and house furnishings,
which declined. As recomputed by the Federal Reserve Board, this index of wholesale prices shows an
advance of 9 per cent over a year ago in consumers'
goods and an increase of 5 per cent in producers'
goods, while raw products were 9 per cent higher in
price than in July a year ago. The commercial index
numbers for August 1 both showed increases over the
previous month and a year ago.
2
 59392—25f


1922

1923

1924

The cost-of-living index also advanced in July to a
point 69 per cent above pre-war, and standing for that
month 4 per cent higher than in July, 1924. The
principal increase in living costs occurred in the prices
for food, the decline in shelter costs of 2 per cent
being insufficient to offset a 3 per cent increase in
food and smaller increases in clothing and fuel.
EMPLOYMENT

Factory employment declined 1 per cent from June,
but was 5 per cent greater than a year ago. All industrial groups registered a decline from the previous
month or remained stationary except leather, chemicals, and tobacco products. As compared with last
year, increases were registered in each group, except
food products and tobacco products, which declined,

10

and lumber, which showed no change, the increases
ranging from 1 per cent in the case of paper and printing, to 11 per cent in the case of nonferrous metals.
Together with the decline in employment, as compared with the previous month, was the decrease in
factory pay rolls. The increase in employment of
5 per cent over July, 1924, may, however, be com-

pared with an increase in pay rolls of 11 per cent.
Despite the general decline from June, in the amount
of industrial pay rolls, increases were noted in leather
and chemical establishments, while as compared with
last year all factories had larger pay rolls, except food
products and tobacco products, ranging from 4 per
cent for paper and printing to 19 per cent for textiles.

REVIEW BY PRINCIPAL BRANCHES OF INDUSTRY AND COMMERCE

Receipts of wool at Boston were 71 per cent larger
than in June and 25 per cent larger than a year ago,
both domestic and foreign wools participating in the
general increases over these two periods. Imports of
unmanufactured wool were 2 per cent larger than in
June and almost two and one half times as large as the
July, 1924, total. Consumption of wool by textile
manufacturers was 5 per cent greater in July than in
the previous month and almost 20 per cent larger than
in July, 1924. Machinery activity in woolen mills was
likewise greater in July than in either the previous
month or a year ago. Prices of raw wool averaged
higher than in either the preceding month or July,
1924, while wholesale prices for finished goods showed
relatively no change from the preceding month.
CONSUMPTION AND EXPORTS OF COTTON
[July, 1925. is latest month plotted]

Cotton receipts into sight increased in July over the
minimum movement in June but were 39 per cent
smaller than in July, 1924. Imports of unmanufactured cotton declined in a seasonal movement from
June but were more than 50 per cent larger than in
July, 1924. During the first seven months of 1925 the
importation of cotton was 3 per cent smaller than
during the corresponding period of the previous year.
Exports of raw cotton likewise declined in a seasonal
movement, the shipments abroad during July recording a decline from last year of 4 per cent. For
the calendar year thus far, cotton exports were 57 per
cent larger than during the same period of last year.
Consumption of cotton by textile mills declined 2
per cent from June but was 39 per cent greater than
in July, 1924, while the total for the first seven months




of 1925 was 21 per cent larger than during the corresponding period of 1924. Stocks of cotton held at
mills and warehouses at the end of July were 27 per
cent smaller than at the end of June and 1 per cent
smaller than the holdings of a year ago, the decline
from July 31, 1924, being due to smaller warehouse
stocks.
The number of active cotton spindles in July was 2
per cent smaller than in June but 10 per cent greater
than a year ago, while the total spindle activity in
hours was 5 per cent smaller than in June and 42 per
cent greater than a year ago. New orders received by
cotton finishers in July were 7 per cent and 17 per cent
greater, respectively, than in July, 1924, while billings
of cotton goods were 2 per cent smaller than in the
previous month and 19 per cent greater than a year
ago. Exports of cotton cloth were 11 per cent larger
in July than in either the previous month or a year
ago, while the total takings of cloth abroad were 33
per cent larger during the first seven months of this
year than in the same period of 1924. Production of
fine cotton goods in the New Bedford district was 3
per cent larger than in June and 43 per cent greater
than in July, 1924, while sales of fine cotton goods
declined 12 per cent and 33 per cent, respectively,
from each of these comparative periods. Prices for raw
cotton, both to the producers and at wholesale, averaged higher in July than in the previous month, but
were still well below the prevailing quotations of a
year ago. Prices of cotton yarns, also, averaged higher
than in June.
Imports of raw silk were 15 per cent larger than in
June and 36 per cent greater than in July, 1924,
while for the calendar year thus far the total importation was 40 per cent larger than during the same
period of 1924. Consumption of silk, as seen by
deliveries, was 11 per cent greater than in June and
42 per cent larger than a year ago, making the cumulative movement for the first seven months of the
year, 44 per cent larger than during the corresponding
period of 1924. Stocks of silk at the end of July,
both at warehouses and at mills, were smaller than at
the end of the previous month and about 50 per cent
larger than the holdings of a year ago. Silk prices
declined 1 per cent from the previous month but averaged 17 per cent higher than in July, 1924.

11
CONSUMPTION OF COTTON, WOOL, AND SILK
[July, 1925, is latest month plotted]

Imports of burlap were 4 per cent larger than in
June and 52 per cent greater than in July a year ago,
while the total inward movement for the first seven
months of this year was 7 per cent larger than during
the corresponding period of 1924. Unmanufactured
fibers were imported in much smaller volume in June
than in either the previous month or a year ago, but
the total importation during the calendar year thus
far was 4 per cent larger than during the same period
of last year.
IRON AND STEEL

Iron ore stocks at the end of July were 19 per cent
greater than the holdings at the end of the preceding
month and less than 1 per cent smaller than a year
ago. Consumption of iron ore was less than 1 per
cent smaller than in June but 59 per cent greater than
in July, 1924, making the cumulative total for the
year thus far 14 per cent greater than during the
same seven months of last year.
Pig iron production was slightly smaller in June
than in the preceding month but was 49 per cent
larger than in July a year ago, while the total output,
for the calendar year through July, was 13 per cent
greater than during the same period of 1924. More
furnaces were in blast at the end of July than at the
end of either the preceding month or a year ago, with
2 per cent greater capacity than in the previous month
and 36 per cent greater capacity than a year ago.
PRODUCTION OF PIG IRON AND UNITED STATES STEEL CORPORATION'S UNFILLED ORDERS
[July, 1925, is latest month plotted]
14,000

600

The production of malleable castings was 3 per cent
smaller than in June and 78 per cent greater than a
year ago, while for the first seven months of this year
the total output was 9 per cent larger than during
the same period of 1924. Shipments of malleable
castings in July and for the seven months ending
July showed similar comparisons. New orders for
malleable castings received in July were 20 per cent




larger than in June and 81 per cent greater than a
year ago, and while the operating ratio of manufacturers of malleable castings declined 3 per cent from
the previous month, it was 77 per cent greater than
a year ago. Wholesale prices of iron showed a continuation of the downward tendency with August
indications pointing to a stabilization somewhere
near present levels.

12
The output of steel ingots was 4 per cent smaller
than in June but 64 per cent greater than a year ago,
making the total, for the calendar year thus far, 18
per cent larger than during the first seven months of
1924. Unfilled steel orders continued to decline but
on July 31, 1925, were 11 per cent greater than a
year ago. Bookings for steel castings were 20 per
cent larger than in June and 43 per cent greater than
a year ago, increases over these two periods being
noted in the bookings of railroad specialties, as well
as in miscellaneous items.
Production of steel sheets by independent mills
was 8 per cent smaller than in July and 71 per cent
greater than a year ago, with the total for the first
seven months of this year standing at 30 per cent
above the same period last year. Unfilled orders for
steel, held on the books of independent manufacturers, continued to increase and at the end of July were
134 per cent greater than a year ago. The output of
steel barrels was 3 per cent smaller than in June but
25 per cent greater than a year ago, with shipments
showing similar comparisons with the previous month
and July, 1924. Both production and shipments of
steel barrels registered an increase of 31 per cent for
the first seven months of this year over the corresponding period of 1924. Wholesale prices of steel
were practically stable in July.
Sales of fabricated structural steel were 6 per cent
smaller than in June but 21 per cent greater than a
year ago, while the total for the first seven months of
this year was 8 per cent ahead of the sales during the
1924 period. Shipments of structural steel were 9

per cent larger in July than in either the previous
month or a year ago, making the total for the calendar
year thus far also 9 per cent ahead of the same period
last year. New bookings for fabricated steel plate
were 15 per cent smaller than in June but 34 per cent
larger than a year ago, this increase over a year ago
occurring despite a 44 per cent decline in bookings
for oil-storage tanks. New orders, shipments, and
unfilled orders for steel furniture increased slightly
over June. New orders and shipments of steel
shelving were smaller than in June but unfilled orders
at the end of July increased about 8 per cent.
Exports of iron and steel products were 11 per cent
greater than in June, but the total for the calendar
year thus far was 17 per cent smaller than during
the same period of 1924. Imports of iron and steel
were 34 per cent smaller than in the preceding month
and twice as large as in July, 1924, bringing the seven
months7 total to 85 per cent ahead of the importation
during the same period of last year.
New orders received for machine tools were smaller
than in June but more than twice as large as a year
ago. Sales of mechanical stokers, both in number
and in horsepower, were considerably larger than in
either the preceding month or a year ago, while for
the calendar year thus far, 27 per cent more stokers
were sold than in the same period of last year, having
10 per cent greater horsepower. New patents issued
on inventions of all descriptions in July were smaller
than in either the preceding month or a year ago, but
for the year thus far an increase of 8 per cent was
recorded over the same period of 1924.

LOCOMOTIVE SHIPMENTS AND UNFILLED ORDERS
[July, 1925, is latest month plotted]
4,000

NONFERROUS METALS

The production of copper at domestic mines was 3
per cent smaller in July than in the previous month and
4 per cent greater than a year ago, bringing the total
for the year thus far to 9 per cent above the same
period of the previous year. The world production of
blister copper was slightly larger than in June and 3
per cent greater than in July of last year, with the total



output for the first seven months of 1925, 5 per cent
larger than in the same period of 1924. The wholesale price of copper continued to advance in July,
being 13 per cent higher than the average of a year
ago. Exports of copper were 1 per cent smaller than
in June but 34 per cent greater than a year ago, making the total shipments abroad 15 per cent larger than
during the seven-month period of last year.

13
COPPER PRODUCTION AND EXPORTS
[July, 1925, is latest month plotted]

over the same period of last year amounting to 39
per cent. Lead prices averaged lower in July than
in the preceding month, but were 15 per cent higher
than in July, 1924.
RELATIVE PRODUCTION AND STOCKS OP ZINC
[1913 monthly average=100. July, 1925, is latest month plotted]

New orders received for brass faucets were 12 per
cent and 10 per cent larger, respectively, than in
either the previous month or July, 1924, while shipments in July were 9 per cent and 1 per cent larger,
respectively, than in either comparative period.
New sales of tubular plumbing fixtures were 4 per
cent smaller than in June but 43 per cent greater
than a year ago, while the wholesale price of six
fixtures averaged lower in July than in either the
preceding month or a year ago.
Stocks of tin, both in the United States and for
the world at large, were larger at the end of July than
on June 30, but tin supplies held in both positions on
July 31, 1925, were smaller than a year ago. Deliveries of tin to consuming establishments were 5 per
cent larger than in June and 65 per cent greater than
a year ago, making the total indicated consumption
for the calendar year thus far 16 per cent larger than
during the same period of last year. Imports of tin
were 4 per cent smaller than in June and 39 per cent
greater than a year ago, with the total for the first
seven months of this year 6 per cent larger than for
the corresponding period of 1924. Wholesale prices
of tin continued to average higher and for July were
24 per cent above a year ago.
Fewer zinc retorts were in operation at the end of
July than on June 30. Despite this, the production
of zinc was greater than in June, making the total
for the year thus far 6 per cent larger than a year ago.
Zinc stocks continued to decline, standing on July 31
at 61 per cent below the holdings of a year ago. The
wholesale price of zinc continued to average higher in
July, being 22 per cent higher than a }^ear ago.
The production of lead was 2 per cent smaller
in July than in the previous month but 8 per cent
greater than a year ago, making the total for the
first seven months of this year 12 per cent larger
than during the same period of 1924. Lead-ore shipments in the Joplin district were 23 per cent smaller
than in June but 53 per cent larger than a year ago,
with an increase in the first seven months of this year



COAL AND COKE

The production of bituminous coal was 6 per cent
and 19 per cent larger, respectively, than either the
preceding month or July a year ago, with an increase,
amounting to 2 per cent, for the year thus far over
the same period of last year. Bituminous-coal
exports, though larger than in either the preceding
month or a year ago, were 8 per cent smaller for the
first seven months than during the same period of
1924. Wholesale prices of bituminous showed no
change from the preceding month or a year ago.
PRODUCTION OF BITUMINOUS AND ANTHRACITE COAL
[July, 1925, is latest month plotted]

Anthracite production was 10 per cent larger in
July than in either the preceding month or a year
ago, but despite this increase the output for the first

seven months was still slightly below a year ago.
Exports of anthracite were considerably larger than
in either the preceding month or in July, 1924, while
for the year thus far the exports, equivalent to almost
4 per cent of the production, were 3 per cent larger
than in the same period of last year.
Production of beehive coke continued to decline
in July but was 19 per cent larger than a year ago.
By-product coke was produced in larger quantities
than in either June or a year ago. Despite a 12 per
cent decline in the production of beehive for the first
seven months of this year from the same period of
1924, the total output of coke was more than 5 per
cent larger than a year ago. Coke exports were larger
in July than in the preceding month or a year ago.
AUTOMOBILES

A decline of 2 per cent in the output of passenger
cars in the United States and Canada occurred in
July from the previous month, but the July production
was 46 per cent larger than a year ago, bringing the
total for the first seven months of this year to 9 per
cent ahead of the same period of last year. Automobile truck production, on the other hand, registered
an increase of about 7 per cent over the preceding
month and 50 per cent over a year ago, making the
increase over the first seven months of 1924 almost
25 per cent.

RUBBER

Imports of rubber were 1 per cent larger than in
June and 67 per cent greater than a year ago, while
for the year thus far, 15 per cent more rubber was
imported than during the same seven months of 1924.
The production of all t^pes of tires and tubes increased
in July over the previous month as well as over a year
ago. Stocks of plantation rubber in the United
Kingdom at the end of July were smaller than at the
end of the previous month and a year ago. Prices
of rubber continued to average higher in July and were
almost three times as large as a year ago.
HIDES AND LEATHER

Imports of hides and skins in July, though 21 per
cent smaller than in the previous month, were 1 per
cent larger than a year ago, while for the first seven
months of 1925, 15 per cent more hides and skins were
imported. Declines in the importation of skins from
the previous month were general in all types, while
the general increase over a year ago in the total movement was due solely to larger receipts of goat and
sheep skins, cattle hides and calfskins declining from
July, 1924. Prices of cattle hides and calfskins averaged considerably higher in July than in either the
previous month or a year ago.
IMPORTS OF HIDES AND SKINS
[July, 1925, is latest month plotted]

PASSENGER AUTOMOBILE PRODUCTION
80,000i

[July, 1925, is latest month plotted. Cumulative curve shows production through
July]




00,000

.1.000

Production of sole leather was larger than in either
June or a year ago, while exports of sole declined from
both the preceding month and July, 1924. As against
the decline in sole-leather exports increases over these
comparative periods were noted in the exports of upper
leather. For the first seven months of this year a
decline in the importation of sole leather amounting
to 14 per cent from the same period of last year may

15

be compared with an increase of 4 per cent in upper
exports. Prices of sole leather continued to average
lower, but were still above the prevailing quotations
of a year ago.
The production of boots and shoes in July was
larger than in either the preceding month or a year
ago, while boot and shoe exports, though smaller than
in June, were 7 per cent larger than in July, 1924.
Wholesale prices of boots and shoes showed no change
from the June averages but were higher than a year
ago.
Sales of leather belting were smaller than in June
but 9 per cent greater than in July, 1924, the seven
months' total increasing slightly more than 1 per cent
over last year's period. Glove-leather production was
11 per cent smaller than in the previous month and
39 per cent greater than a year ago, and, for the year
thus far, it increased 5 per cent over the same period
of last year. Stocks of glove leather, both finished
and in the process of tanning, at the end of July, were
considerably smaller than the holdings a year ago.

wise smaller than in June and larger than a year
ago, the cumulative for the calendar year thus far
also showing a substantial increase over the same
period of last year, with stocks at the end of July
smaller than at the end of either the previous month
or a year ago. The output of all other grades of paper
exhibited similar conditions both as respects the
preceding month a year ago, and the total for the
first seven months of 1925.
NEWSPRINT PAPER PRODUCTION AND MILL STOCKS
[July, 1925, is latest month plotted]

PAPER AND PRINTING

Wood-pulp production in July, both mechanical
and chemical, was smaller than in the preceding month,
mechanical pulp registering an increase of 18 per cent
over a year ago and chemical pulp an advance of 7
The production of paper-board shipping boxes,
per cent. For the calendar year thus far production
of mechanical wood pulp declined 5 per cent from the both corrugated and solid fiber, was more than 5 per
same period of last year, while an increase of 2 per cent greater than in June and more than 25 per cent
cent occurred in the production of chemical pulp. Im- larger than in July, 1924. Operating activity of
ports of both mechanical and chemical wood pulp manufacturers of paper-board boxes was likewise
were smaller than in June, but for mechanical wood greater in July than in either the previous month or
pulp the July movement was greater than a year ago. a year ago. Shipments of rope paper sacks were
For the year thus far the increase in mechanical pulp smaller than in either June or a year ago, while sales
imports, aggregating 46 per cent, may be compared of abrasive paper and cloth, though smaller than in
with an increase in chemical wood pulp imports over June, were considerably larger than in July, 1924.
the first seven months of 1924, amounting to 20 per
BUILDING CONSTRUCTION AND HOUSING
cent.
Both production and shipments of newsprint paper
Industrial construction costs, though showing no
were 6 per cent smaller than in June, while the pro- change from the preceding month, were somewhat
duction of newsprint registered an increase over July, lower than in July, 1924. Cost indexes for building
1924, amounting to 5 per cent. Comparing the first materials entering into construction of six-room houses
seven months of the year, newsprint output increased showed declines for July, on the other hand, from both
2 per cent. Imports of newsprint paper were like- the preceding month and a year ago.
wise smaller than in July and larger than a year ago, |
Contracts awarded for new construction in 36
the cumulative imports being 7 per cent ahead of the States, though 2 per cenfe smaller in value than in the
same period of 1924. Mill stocks of newsprint were previous month, were 8 per cent larger in floor space.
7 per cent larger at the end of July than on June 30 Compared with a year ago, the July awards, in both
and 20 per cent greater than a year ago.
value and square footage, were more than 50 per
Production of wrapping paper was 2 per cent cent greater. For the calendar year thus far, the
smaller than in June but 23 per cent greater than a value of construction lettings has run 20 per cent
year ago, while stocks at the end of July were smaller ahead of the same seven months of the preceding year,
than at the end of either comparative period. Wrap- the greatest increases in this period over a year ago
ping paper was produced in larger quantities during occurring in the lettings for commercial and industrial
the first seven months of this year than in the same types as well as public and semipublic construction,
period of 1924. Production of fine paper was like- at about 30 per cent ahead of last year. Contrasted



1G
with this increase is the advance in residential awards
during the first seven months amounting to only 14 per
cent as compared with the same period of 1924. Fire
losses in the United States and Canada were about

25 per cent greater in July than in either the preceding month or a year ago, while for the year thus
far the losses incurred by fire were 11 per cent greater
than during the same period of last year.

COMPARISON OF AUTOMOBILE PRODUCTION AND NEW BUILDING CONTRACTS
[July, 1925, is latest month plotted. Cumulatives for 1925 are through July]

550

| I i I i i

550

I i | i I |

1925-CUMULATIVES-1925
LDING CONTRACTS AWARDED

1 2 3 4 5 6 7 8 9 1 0 II YR

1924-CUMULATIVES - 1924

TOTAL AUTOMOBILE
PRODUCTION
.

I 2 3 4 5 6 7 8 9 10 II YR.

i I I I I I I I I I M I I I I I I I 1I

BUILDING MATERIALS

LUMBER PRODUCTION AND STRUCTURAL STEEL SALES

A 3 per cent increase in the output of southern pine
lumber as compared with June may be contrasted
with a decline of 15 per cent in the production of
Douglas fir. As compared with a year ago, southern
pine production showed only an increase of 7 per
cent as against an increase of 30 per cent in the July
production of Douglas fir. For the calendar year
thus far, southern pine output was 5 per cent and
Douglas fir 9 per cent ahead of their respective productions during the first seven months of 1924, while
mill shipments of both species showed relatively the
same comparisons. Increases over a year ago were
noted also in the production of California redwood,
and white pine, as well as in the output of western
pine, North Carolina pine, and northern pine.
Production, shipments, and bookings of flooring
manufacturers in July increased substantially over
the previous month and July, 1924, while stocks
declined, with the exception of stocks of maple flooring, which were 10 per cent greater than a year ago.
Unfilled orders of oak flooring were larger than for
either the previous month or July, 1924, but those for
maple flooring while showing an increase over July a
year ago were 9 per cent less than at the end of June.

[July, 1925, is latest month plotted]




i

1920

H H Um g
(923

I

1924

I

1925

17
The production of brick showed little change from
either the previous month or a year ago, there being a
slight increase in the production of face brick and a
slight decrease in that of paving brick from June,
while both kinds of brick were produced in slightly
smaller quantities than a year ago. Shipments of
both types of brick were considerably larger than for
either the previous month or a year ago and stocks were
less than at the end of June. Unfilled orders declined
from the previous month and those of paving brick
from a year ago also.
Bookings of architectural terra cotta were considerably smaller both in tonnage and in value than
for either the previous month or for July, 1924. For
the first seven months of 1925 the tonnage and value of
bookings of architectural terra cotta were only
slightly less than for the corresponding period of last
year.
The production and shipments of Portland cement
were larger in July than in either June or a year ago.
Stocks, on the other hand, declined from June but were
larger than at the end of July, 1924. Paving contracts awarded showed substantial increases, both in
the total and for road building purposes, over either
the previous month or July, 1924.
Orders of enameled sanitary ware received and
shipped exceeded those reported for either the previous month or a year ago, all classes of goods participating in the increase with the exception of shipments
of miscellaneous enameled ware, which were slightly
less in July than in June, 1925, or July, 1924. Stocks of
each class of enameled ware, on the other hand, declined
from the previous month but were uniformly larger
than a year ago. Unfilled orders of baths while
larger than at the end of June were only two-thirds
of the total reported a year ago, and unfilled orders of
small ware were less than at the end of either of the
periods with which comparison is made.
CHEMICALS AND OILS

Imports of potash and nitrate of soda were substantially larger in July than for either the previous
month or a year ago. Imports of each of these products for the first seven months of 1925 have also exceeded
the imports for the corresponding months of last year,
imports of potash being 34 per cent greater and those
of nitrate of soda 18 per cent greater than a year ago.
Exports of fertilizer and of vegetable dyes and dyestuffs were considerably larger during July than during either the previous month or a year ago. Exports
of coal-tar dyes although slightly less than in June
were 14 per cent greater than in July, 1924. Exports
of sulphuric acid on the other hand were much smaller
than in either the previous month or a year ago. For
the first seven months of 1925 exports of dyes and
dyestuffs, both vegetable and coal-tar, exceeded the
exports during the corresponding months of last year
59392—-25f




3

by considerable amounts. Exports of fertilizer and
sulphuric acid on the other hand were 11 and 20 per
cent smaller, respectively, during the first seven months
of this year than during the corresponding months of
1924.
IMPOSTS OF POTASH AND NITRATE OF SODA
[July, 1925, is latest month plotted]

Below is given a table showing the amount of fertilizer sales in North Carolina, South Carolina, Georgia,
Alabama, Mississippi, Tennessee, Louisiana, Arkansas,
and Texas for the fertilizer seasons since 1919, covering the period December through June, which best
indicates the amount of fertilizer used in the cultivation of cotton.
CONSUMPTION OF FERTILIZER IN COTTON STATES 1
1919-30

1920-21

1921-23

1922-23

1923-24

1924-25

Season.- 4, 228, 290 2, 103, 635 2,525,287 3, 281, 419 3, 760, 276 4, 068, 864
December
January
February
March
April
May
June__

2 3,978, 865
184, 803
64, 622

64, 841
268,283
337, 456
959, 640
412, 197
»1, 301
29, 917

33, 396
204,930
435, 297
1, 199, 556
501, 260
61, 451
89, 397

76, 884
647, 219
962, 253
1, 145, 251
358, 053
74, 143
17, 616

79, 599
634, 801
1, 091, 711
1, 217, 758
603, 220
114, 212
18, 975

58,418
356, 163
849,308
1,927,918
798, 544
60, 678
17,835

1 Compiled by W. Arthur Shelton from tag sales reports of commissioners o*
agriculture of the nine cotton-growing States enumerated above.
2 This figure includes all the nine States for December, 1919, through April, 1920,
except the States of South Carolina and Texas for the month of December, which
is not available for those two States.

Receipts of turpentine and rosin at the three principal ports were both larger than during the previous
month, the receipts of rosin being larger and those of
turpentine being smaller than a year ago. Stocks of
these commodities were also larger than at the end
of June, those of turpentine being larger and those of
rosin being considerably smaller than a year ago.
The production and stocks of cottonseed oil continued to decline seasonally but were somewhat larger
than a year ago. Stocks of cottonseed, on the other
hand, were slightly larger than at the end of either
the previous month or of Juy, 1924.

18
Keceipts of flaxseed at the two northwestern centers,
while slightly less than for the previous month were
almost twice those reported a year ago. Shipments
were almost double those of the previous month and
more than twice those reported in July, 1924. Stocks,
on the other hand, while declining slightly from June,
greatly exceeded those reported a year ago. Shipments of linseed oil and oil-cake from Minneapolis
while less than in June were considerably larger than
a year ago.

of July, 1924. Both the catch and the cold-storage
holdings of fish were larger than for the previous
month or a year ago.
Receipts of butter and eggs declined and those of
cheese increased both from the previous month and
from July, 1924. Exports of evaporated milk were
less than during the preceding month but considerably greater than a year ago, while the converse was
true of exports of condensed milk, July exports exceeding those of June but falling 18 per cent short of
a year ago.

The movement of wheat was much larger during
July than during either the previous month or July,
1924. The total visible supply for the United States
and Canada continued to decline seasonally and was
less than a year ago. Chicago wheat prices declined
from June but were substantially higher than in July,
1924.
The domestic movement of corn was less than for
either the previous month or a year ago and exports
also declined from June, although far exceeding those
of July, 1924. The visible supply of this commodity
was but little more than one-half that reported for
either June, 1925, or July, 1924.
Keceipts of oats at the principal markets were
slightly less than during the previous month but considerably greater than a year ago. The visible supply
also declined from June but greatly exceeded that of
July, 1924. The prices of oats at Chicago were less
than for either the previous month or a year ago.
Car-lot shipments of potatoes and citrus fruits were
less than for either the previous month or for July,
1924. Shipments of apples, and onions however, exceeded those of the previous month, shipments of
apples being greater and those of onions less than in
July, 1924. Receipts of hay were considerably larger
than for either the previous month or a year ago.

PORK AND POKK PRODUCTS: PRODUCTION, STOCKS, AND
EXPORTS

CEREALS

RECEIPTS AND SHIPMENTS OF CATTLE

Receipts and shipments of cattle showed a considerable increase over the preceding month or from July,
1924, this increase being accompanied by an increase
in local slaughter, a decrease in cold storage holdings
and a strengthening of prices. The movement and
slaughter of hogs on the other hand declined to a
marked degree from the preceding month and with
the exception of stocker and feeder hogs also declined
from a year ago. Prices for hog products however
continued upward.
The movement of sheep and lambs was greater than
for either the preceding month or for a year ago
despite a decline in shipments of stocker and feeder
sheep from July, 1924. Local slaughter was slightly
greater than in June but less than a year ago.
July receipts of poultry were 10 per cent less than
in June although slightly larger than a year ago.
Cold-storage holdings, on the other hand, declined
from the preceding month but greatly exceeded those



[July, 1925, is latest month plotted]

SUGAR, COFFEE, AND TEA

Imports of raw sugar continued to decline and were
also smaller than a year ago. Meltings, while slightly
larger than in June, were also less than in July, 1924.
Stocks of raw sugar, on the other hand, while 14 per
cent less than on June 30, were larger than a year
ago. Exports of refined sugar were much larger than
during either the preceding month or the corresponding month a year ago.
RAW SUGAR: IMPORTS, MELTINGS, AND REFINERY STOCKS
[July, 1925, is latest month plotted]

1920

Receipts of sugar at Cuban ports continued their
seasonal decline, being 35 per cent less than in June
but 20 per cent greater than a year ago. Exports
also declined both from the preceding month and from
July, 1924. Stocks, on the other hand, still continued
the seasonal decline from July but were 70 per cent
greater than a year ago.

,19
Imports of coffee, while 35 per cent larger than in
June, were considerably less than in July, 1924.
Brazilian receipts of coffee showed a large increase
both as compared with the preceding month and a
year ago. Shipments of coffee from Brazil, while
greatly in excess of those of a year ago, were practically the same as during June. The visible supply
of coffee was reported to be slightly larger than for
either the preceding month or a year ago. Imports
of tea were almost double those of June and were
20 per cent larger than a year ago.

from June, but were 27 and 12 per cent greater, respectively, than in July, 1924. For the first seven
months of 1925 the sales of two principal mail-order
houses were 8 per cent and the sales of the four principal
10-cent store systems 12 per cent greater than for
the corresponding period of 1924, part of the increase
in the sales by chain stores being due to the increased
number of units.
RAILWAY FREIGHT-CAR LOADINGS
[Showing cumulatives through specified month. July, 1925, is latest month plotted

TOBACCO

The consumption of cigars, as indicated by taxpaid withdrawals, was slightly less than for the corresponding month of last year while the consumption
of cigarettes and of manufactured tobacco increased.
Exports of unmanufactured leaf were much larger
than for the preceding month or July, 1924, while
July exports of cigarettes were less than one-half
those of either the preceding month or the corresponding month a year ago.
RELATIVE CONSUMPTION OF CIGARETTES AND CIGARS
[1913 monthly average=100. July, 1925, is latest month plotted]

The condition of this year's tobacco crop on August
1 indicated a slightly smaller production than the
estimate of July 1, but a slightly larger crop than that
of last year. Sales at loose leaf warehouses continued
very small.
WATER TRANSPORTATION

Traffic through the Sault Ste. Marie Canals was
larger than in either the preceding month or July, 1924,
the total traffic for this season exceeding the total for
last season by 11 per cent. River traffic on the Ohio
from Pittsburgh to Wheeling also showed a material
increase as compared with either the preceding month
or with the corresponding month a year ago, the total
of this traffic for this season exceeding that of last
year by 15 per cent.
RAILROADS

Freight-car loadings in July, due to the holiday
interruption to business, declined slightly from the
previous month but were 10 per cent above July of
last year. The total loadings for the first seven months
of 1925 were 5 per cent larger than for the corresponding period of last year.
The number of surplus cars for the last week of the
month were considerably less than at the end of either
the previous month or July, 1924.
The number of Pullman passengers carried during
July was 4 per cent greater than during the previous
month and 6 per cent greater than a year ago.

SHORTAGE, SURPLUS, AND BAD-ORDER FREIGHT CARS
[July, 1925, is latest month plotted]

DISTRIBUTION MOVEMENT

Sales at retail by mail-order houses and 10-cent
chain stores declined 9 and 2 per cent, respectively,



1922

20
SALES BY MAIL-ORDER HOUSES AND TEN-CENT CHAIN STORES
[July, 1925, is latest month plotted]

and notes in circulation also being smaller than in
July, 1924.
The reserve ratio, while slightly larger than during
June, was 7 per cent less than a year ago.
LOANS, DISCOUNTS, AND TOTAL INVESTMENTS OF FEDERAL
RESERVE MEMBER BANKS
[July, 1925, is latest month plotted]

TOTAL INVESTMENTS/

Advertising in the principal newspapers in the
United States was 15 per cent less than in June, but was
8 per cent larger than a year ago. For the first seven
months of 1925 advertising in newspapers was 1 per
cent heavier than during the corresponding period of
last year.
Postal receipts at the 50 largest cities continued to
decline, being 5 per cent less in July than in the previous month. Postal receipts at the 50 cities next in
importance, however, were 1 per cent larger than in
June. Compared with a year ago, postal receipts
were 13 and 10 per cent greater, respectively, for the
two classes of cities shown.
LIFE INSURANCE

New sales of life insurance as reported by 45 companies declined both in number and amount from the
previous month, all classes of policies showing a decrease in number, while the decline in the value of industrial policies more than offset the increases in ordinary and in group insurance. The new insurance
written in July was 21 per cent greater in number and
27 per cent-greater in amount than a year ago. For
the first 7 months of 1925 the new policies written
. exceeded those written in the corresponding period of
1924 by 9 per cent in number and 17 per cent in
amount.
BANKING

Checks drawn against individual accounts in New
York City were 6 per cent less than in June but 19
per cent greater than a year ago. For the rest of
the country, however, the decline from the previous
month was less than 1 per cent and the increase
over July, 1924, 6 per cent. For the first seven months
of 1925 check payments in New York were 21 per
cent greater and for the rest of the country 12 per cent
greater than for the corresponding period of last year.
Bills discounted by Federal reserve banks in July
were 3 per cent greater than during the previous
month and 59 per cent greater than a year ago. Deposits, reserves, investments, and notes in circulation,
however, declined from the previous month, reserves



1921

1922

1923

1924

1925

Net demand deposits, investments, and loans and
discounts of Federal Reserve member banks were
slightly larger than in June and were from 5 to 10 per
cent greater than in July, 1924. Interest rates, both
for speculative funds and commercial paper, averaged
slightly higher in July than in the previous month and
were considerably larger than a year ago.
PUBLIC FINANCE

The Government debt showed a slight further reduction in July, the long-term debt being 4 per cent and
the short-term debt 23 per cent less, respectively,
than a year ago. Customs receipts were slightly
larger than for either the previous month or July,
1924. The amount of money in circulation continued
to decline, both in the aggregate and per capita, but
the total was larger than a year ago.
CORPORATE FINANCE

The number of business failures was 6 per cent
smaller in July than in either June or a year ago, a
large increase in the failures among agents and brokers,
as compared with the previous month, being more than
offset by declines in the number of failures among
manufacturing and trading establishments. The
defaulted liabilities of failing concerns were also less
than in June, all classes of establishments participating
in the decline. Liabilities, however, were larger than
in July, 1924, both in the total and for each group.
New capital issues were more than 50 per cent
greater in July than in the previous month and 16 per
cent greater than a year ago. For the first seven
months of 1925 the amount of these issues exceeded
that of the corresponding period of 1924 by 30 per
cent. Loans by States and municipalities on the other
hand were smaller than in either the previous month
or a year ago, the total of such loans up to the end of
July, being likewise smaller than for the corresponding
period of last year. The capitalization of new incor-

21
porations exceeded those of the previous month by 6
per cent and those of a year ago by 87 per cent. The
aggregate capitalization of new businesses so far this
year was 26 per cent greater than for the same period
of last year.
Prices of stocks continued to advance and bond
prices to decline while prices of securities, both stocks
and bonds, were at much higher levels than in July,
1924, the increases in stock prices over a year ago
greatly exceeding those in the prices of bonds. Sales
of stocks were larger and those of bonds smaller than
for either the previous month or a year ago.

a year ago. The price of silver at New York was
slightly higher than in either June, 1925, or July, 1924.
GOLD: SHOWING EXCESS OF IMPORTS AND EXPORTS
[July, 1925, is latest month plotted]

BUSINESS FAILURES: NUMBER AND DEFAULTED LIABILITIES
[August, 1925, is latest month plotted]

FOREIGN EXCHANGE AND TRADE

GOLD AND SILVER

Receipts of domestic gold at the mint were 30 per
cent larger than in June and 3 per cent greater than a
year ago, the total receipts for the first seven months of
1925, however, were only slightly larger than for the
corresponding period of last year. The July imports
of gold, while much less than a year ago, were larger
than for any month of this year except May. For
the first seven months of this year, gold imports were
little more than one-fifth of those of a year ago. Gold
exports continued to decline but were still considerably
larger than during the same period of last year. The
chart below shows the excess of imports and exports of
gold.
The production of silver by domestic mines continued to increase, being 6 per cent greater than in
the previous month and 18 per cent greater than a
year ago. Imports of silver also increased 6 per cent
from the previous month but were 27 per cent less
than in July, 1924. The July exports of silver were
.somewhat less than for either the previous month or
59392—25f




4

Exchange rates with the Far East and with South
America uniformly increased both from the previous
month and from a year ago with the exception of a
slight decline from July, 1924, in the exchange on
Japan. European exchange, on the other hand,
either remained stationary or declined from the
previous month, except in the case of Sweden. All
currencies except the French, Italian, and Belgian were
higher in July than a year ago, declines taking place
in the first two, while Belgian exchange remained
stationary.
IMPORTS AND EXPORTS OF MERCHANDISE
[July, 1925, is latest month plotted]

22
INDEXES OF BUSINESS
The index numbers presented in this table are designed to show the trend in production, prices, trade,
etc., in various groups of industry and commerce. They consist in general of weighted combinations of series
of individual relative numbers: often the individual relative numbers making up the series are also given. The
function of index and relative numbers is explained on the inside front cover. A condensed torm of this table
is given on page 7.
i
±9 4
*
| Mari- Mini- ;
mu m ' mum j!
since i!
i
sin ce
i Jan 1, Jan. 1, li
1920 || May
June
19J20
jj

1—

•

•—

PER CENT INCREASE (+)
OR DECREASE (— )

1925

July
.

! June

May

July, 1925,
from
June, 1925

July

July, 1925*
from
July, 1924

. i

PRODUCTION
i

(Relative to 1919 monthly average as 100)

i

j

RAW MATERIALS

0 <t

94

89

97

91

92

97

+ 5.4

!
i
!
!
ii
]j
li
;

130
196
83
106
85
130
157
126
80
120

117
188
81
105
101
127
163
115
66
104

121
194
86 1
106
96
128
158
114
92
105 !

131
216
91
111
105
140
168
127
72
111

131
212
96
106
104
138 !
178 1
121
73
116

136
214
102
116
107
134
170
126
94
124

+ 3.8
-0.9
+ 6.3
+ 9. 4
+ 2.9
2.9
-1.7
+ 4, 1
+ 28. 8
+ 6.9

+ 12,4
+ 10,3
+ 18,6
+ 9. 4
+ 11,5
+ 4,7
+ 7.6
+ 10. 5
+ 2.2
+ 18, 1

138
227 !
43
1
1 77
153
2 45
390
146
190

80
19
58 ;i
64 !
54 i|
30 -\
21 i
45 ii
94 |!

in
64
88
116
59
220
90
100
138

117
145
82
115
68
154
90
103
141

201
88
110 i
74
122
100
130
143

117

114
50
85
88
75
185
83
99
143

120
115
85
94
71
171
91
146
155

11 1
1
215
96
75
75
111
91
146
147

-7,3
+ 87. 0
+ 12. 9
20. 2
+ 5.6
-35. 1
0.0
0. 0
-5.2

-5.1
+ 7.0
+ 9.1
-30, 8
+ 1.4
-9.0
9n
+ 12.3
+ 2. 8

2 46
2 42
2 54
4 05
2 78
1 70

i»
43
58 ii
50
19 i
19 !j

60
63
124
155
35
27

56
67
150
124
19
26

73
104
141
153
21
21 !

55
61
142
118
28
20

55
79
147
83
12
19

69
104 ^
113 |
162
14
25

+ 25.5
+31.6
-23. 1
+ 95.2
+ 16.7
+ 31. 6

-5.5
0. 0
-19. 9
+ 5. 9
-33.4
+ 19.0

61
59 i
51 i
20 l!
24

132
120
127 ! 117
136
HO
216
227
98
82

11
1
108 1
76 !
264
87

132
130
121
208
106

125
133
92
251
97

118
124 !
80 i
261
102

-5.5
-6.8
-13.0
+ 4.0
+ 5.2

+ 6.3
+ 14. 8
+ 5.3
i i
+ 17.' 2

71
64
77
54
32
57
63
69
92
69
71
70
37

108
112
114
82
92
146
80
117
147
139
174
114
115

101
101
129
71 1
69 i
126
71 :
100
138
131
158
119
100

127
127
101
99
118
150

127
127
114
94
107
153
79
112
167
149
183
113
153

128
128
115
95
105
148
81
106
172
152 i
190
127 i
156

0.8
0.8
+ 0. 9
+ 1.1
-1.9
-3.3
+ 2. 5
-5.4 i
+ 3.0
+2.0
+ 3.8
+12,4
+ 2.0

+ 26. 7
+ 26. 7
-10.9
+ 33.8
+ 52.2
+ 17.5
+ 14.1
+6.0
+ 24. 6
+ 16.0
+ 20.3
+ 6.7
+ 56. 0

79

73

I 46
2 16
137
121
2 41
148
176
136
131
145

62
105
41
0
0
17
74
38
57
80

l

Grand total

MINERALS
Total
Petroleum
Bituminous coal
Anthracite coal
Iron ore*
CoDoer
Lead
" "
Zinc
Gold
Silver

--._._
- -_

-

—

-.

ANIMAL PRODUCTS (marketings)
TotJbl
Wool *
Cattle and calves
Hogs
Sheep
Eggs * .
Poultry *
_ _
Fish
Milk (New York)

.
..

..

CROPS (marketings)
Total
v
Grains*
Vegetables*
.....
Fruits*
Cotton products *
Miscellaneous crops *

!
i
i
I
I

FOREST PRODUCTS

TotaL
.Lumber
Pulpwood
Gum (rosin and turpentine) *_ _ _
Distilled wood
_.

1 35
133
164
2 67
149

MANUFACTURING

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

Miscellaneous

1 30
1 So
i
29
130 !
147
154
i i 15
! 1 21
i 171
156
195
125 !
155

i
l!
1
!
ii
!
i

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




104
100
!
121
!
70
!
74
! 132
72
]
105
:
137
130
158
115
95

82

113
164
156
185
112
152

1

23
INDEXES OF BUSINESS—Continued
!

Mailmum
since
Jan, 1,
l«20 1

i

1924

Minimum
since
Jan. I,
1920

May

Juno

PER CENT INCREASE (+)
OR DECREASE (— )

1925

May

July

.

June

July

July, 1925, i July, 1925,
from
i
from
June, 1925
July, 1924

'
!

STOCKS
(Relative to 1919 monthly average as IOC)
(Corrected for seasonal variation)

155
233
189
115
175

141
178
105
86
169

!
i
i
!

84
70
68
56
89

129
154
90
74
168

| 127
| 137
i
84
i
87
| 169

116
112
153

...

»l
73
89
58
86

162
239
187
115
175

Total
Haw foodstuffs
Flaw materials for manufacture
Manufactured foodstuffs . _
Manufactured commodities
(Unadjusted index)
Total
Raw foodstuffs
_
Raw materials for manufacture
Manufactured foodstuffs
Manufactured commodities.
-

134
157
98
87
169

40
32
25

130
151
95
89
161

143
195
100
73
171

140
187
98
76
168

127
154
95
75
157

9. 3
-17.6
-3. 1
-1.3
-6. 5

-2.3
+ 2.0
0.0
-15.7
-2. 5

122
119
82
100
164 i

135
134
176 ! 171
94 !
91
64 1
76
171
168

122
128
87
85
161

-9.0
-25. 1
-4. 4
+ 11.8
-4. 2

0.0
+ 7.6
+ 6.1
-15.0
-L 8

44
31
96 :

53
39 i
107 |

51
37
106

51
36
113

0.0
-2.7
+ 6.6

+ 15.9
+ 16. 1
+ 17.7

i

j
79
83
101 ! 105
55
55
79 I
84
107
110
77 i
82
75 !
79

83
99
48
85
111
85
77

0.0
5. 7
-12. 7
+ 1.2
+ 0.9
+ 3.7
-2.5

+ 6. 4
+ 6.5
+ 9.1
+ 2.4
+ 0.9
+ 7.6
+ 14.9

101

86

-14.9

+ 24.6

i
1
|
|

UNFILLED ORDERS
(Relative to 1920 monthly averages as 100)
(Iron, Steel, and Building Materials;

Total (8 commodities)
Iron and steel
Building materials
WHOLESALE

_

_

_ _ _ _ _

47 !
35 i
98 |

43
32
87

TRADE

(Relative to 1919 monthly average as 100)
(Distributed by Federal Reserve Districts)

Grand total, all classes
.
Hardware (10 districts)
Shoes (8 districts)
Groceries (11 districts) ...
Drugs (7 districts).
Dry goods (8 districts)
Meats __ —
__

i

_ _ _ __

60
59
43
62
88
58
46

126
129
136
135
133
150
1
80

77
104
56
81
110
72
64

!
i
i
!
i
!
|

76
96
52
83
105
70
64

78
93
44
83
110
79
67

RETAIL TRADE
(Relative to 1919 monthly average as 100)

:

M A I L - O R D E R HOUSES (4 houses).,. _

CHAIN STORES:
Ten-cent (5 chains)
Music (4 chains)
Grocery (27 chains) _ ..
Drug (9 chains)
Cigar (3 chains)
Candy (5 chains)
Shoe (6 chains)
DEPARTMENT STORES:
Sales (359 stores)
Stocks (314 stores)

148

__ _

90

84
55
119
109
106
109
72

174
82
214
150
143
186
150

210
151

.. .

49

366
214
258
187
193
282
186

_

80
100

89

127
136

!
!
i
!

162
75
200
143
131
! 169
1 140
120
127

69

95

163 !
72
206
148
128
177
113

191
96
254
163
143
195
149

187
99
257
i 167
! 134
; 184
152

183
104
262
166
136
181
122

-2. 1
+ 5. 1
+ 1.9
-0. 6
+ 1.5
-1.6
-19.7

+ 12.3
+ 44. 4
+ 27.2
+ 12. 2
+ 6. 3
+ 2.3
+ 8.0

91
123

128
136

126
129

96
124

-23. 8
— 3. 9

+ 5.5
+ 0. 8

91
87
89
87
93
90
100
89
100
92
92
92
93

90
89
88
87
94
86
99
87
101
92
91
90
91

i

EMPLOYMENT
(Relative to 1923 monthly average HS iOOi

N u m b e r employed, by industries:
Total, all classes
Food products
Textiles
Iron and steel _
Lumber
Leather
Paper and printing
_
Chemicals
Stone, claVi and glass.
Metals, except iron and steel
Tobacco products
Vehicles
Miscellaneous
J Since Jan. 1, 1921.




!
_

_
_
1

91
92
88
89
97
88
100
92
102
94
92
90
88

!
!
!
i
i
;
i
i
!
i
i

88
94
84
85
95
83
99
85
99
87
92
85
85

85
94 i
79
80
93
83
98
84
94
81
93
84
82

89
89
86
85
93
89
99 I
89 !
97
90
92
90
91

-1,1
0. 0
-2. 3
2 3
-LI
+ 3.5
0. 0
+2.3
-4.0
-2.2
+ 1. 1
0.0
0.0

+ 4.7
-5.3
+ 8. 9
+ 6. 3
0. 0
+ 7.2
+ 1.0
+ 6. 0
+ 3.2
+ 11. 1
-1. 1
+ 7. 1
+ 11.0

24
INDEXES OF BUSINESS—Continued
1924

Maximum
since
Jan. 1,
1920

Mini- |
mum
since '
Jan. 1,
1920

May

June

i

1925

July

May

June

July

PFR CENT INCREASE (+)
OR DECREASE (— )

July, 1925,
July, 1925,
!
from
from
1 June, 1925 i July, 1924
:

EMPLOYMENT— Continued
(Relative to 1923 monthly average as 100)
Amount of pay roll, by industries:
Total, all classes
Food products
Textiles
Iron and steel
Lumber. _ _ _
__
___._
_ _
Leather
Paper and printing
Chemicals.
Stone, clay, and glass
Metals, except iron and steel
Tobacco products
Vehicles
Miscellaneous

92
96
83
91
101
83
103
94
108
89
92
91
95

87
98
79
82
99
79
101
89
106
79
95
84
86

81
98 i
' 72 !
73 j
92
78
97
86
94
71
93
77
84

94
90
88
92
98
87
104
94
107
90
93
97
99

92
90
93 ;
93
85 '
85
89
85
100
97
82 i
85
103
101 i1
91
92
106
99 j
90
81 !
92
91 !
93
90 i
93
91 1

88
108
91
122
76
74

139
114
132
107
123
222
94

130
116
146
105
123
219
95

132
130
142 !
103
122
215 1
101 |

146
159
162
139
132
184
87

148
164
184
139
132
183
86 ;

138
114
131
171 i
162 1
109
155 i
121
170
111

147
136
137
187
177
134
180
127
173
112

145
134
136
187
175
132
173
127
172
111

147
141
139
188
173
130
169
127
171
112

155
152
153
188
168
127
174
133
171
131

157
155
155
188
173
126
171
133
170
138

247
244
249

138
118
146

147
135
150

145
130
151

147
130
153

155
131
164

157
160
135
137 !
165 i 167

249
311
218
375
272

135
122
103
152
165

152
168
115
195
171

147
165
109
182
168

152
176
114
175 !
167

160
176
134
189
167

162
166
175 ' 173
141 ! 154 i
181
180 ;
167
168 :

+ 2.5 1
11
+9. 2
-0. 6

+9.2 !
17
+35. 1
+2. 9

267
246
272

142
102
125

156
133
183

154
129
179

156
132
180 I

162
139
171

163
143
173

165
146 .
174

+ 1.2 I
+2. 1 !
+ 0.6

+5.8
+0.6
-3.3 i

+ 3. 3

i
;
;
!

-2. 2

+11. 1

0.0
-4.5
-3. 0
+ 3.7
-1.9
+1. 1
-6.6
-10. 0
—1.1
-3.2
-2. 2

1 +18.5
i +16.4
! +5. 4
l
+9.0
+4. 1
+7.0
I- +5.3
! +14. 1
-2. 2
i +16.9
!
+8. 3

o. o ;

-5. i

PRICE INDEX NUMBERS
FARM PRICES
(Relative to 1909-1914 average as 100)
All groups

Grain
_ __
Fruits and vegetables.
Meat animals
Dairy and poultry
Cotton and cottonseed
Unclassified..

-

- __
_ __

_

.

.

235
283
373
186
215
304
180

110

+0. 7
-7.3
-3. 3
+ 6. 5
4-1. 5

:

4-1. 9
+ 4.5
+ 1. 3
+ 0. 5
06
0.0
-0. 6
0. 0
-0. 6
+ 3. 6

149 !
152
178
148
134 i
186
88

j +8. 8
1 +14.9
| +12. 9
i +0. 5
06
!
-3. 1
+0. 6
I
+4. 7
:
-1.2
i +27. 7

+1.9

:

+8.8

+1. 5 !
+ 1.2 |

+5.4
+9.2

+12.9
+16.9
+25. 4
+43. 7
+9. 8

fi
13 ^
+ 2. 3 1 -12. 9

4-1

WHOLESALE PRICES
Department of Labor Indexes

(Relative to 1913)
All commodities
Farm products _ _
Food, etc
._ _
Cloths and clothing. ...
Fuel and lighting
Metals and metal products
Building materials . .
Chemicals
House-furnishing goods
Miscellaneous. _

248
243
248
_ __ 346
281
203
300
213
275
208

.

.

160
162
157
i 189
! 172
1
126
170
133
169
; 143
!

:

Federal Reserve Board Regrouping of Department
of Labor Indexes

(Relative to 1913)
All commodities
;_
Producers' goods
Consumers' goods
. __
Total raw products.
Agricultural products.
Animal products.
Forest products
Mineral products

.

.

;

Federal Reserve Board Indexes
(Relative to 1913)

All commodities
Goods imported
Goods exported

+o. 6 i

+o. 6 \

i
i

.

',

Commercial Indexes

(Relative to 1913)
Dun's ( 1 st of following month)
Bradstreet's (1st of following month)

.

218
227

134
115

152
133

153
133

155
137

161
148

162
150

155

205
219
186
288
200
192

155
139
143
153
149
171

161
141
185
176
165
174

162
142
185
174
165
174

162 i
143 i
186
171
166
173

165
152
182
172
163
175

167
155
182
174
164
175

169
1 160
i 179
! 175
| 165
! 175

+13. 1

COST OF LIVING

National Industrial Conference Board Indexes
(Relative to July, 1914)

All items weighted
Food (Dept. Labor)
Shelter.. .1
Clothing
Fuel and light
Sundries



_

+ 1.2
+4.3
+ 3.2
+11.9
-1.6
-3.8
+ 0.6
+2.3
+ 0. 6 ;
-0. 6
0. 0 ! +1.2

I

25

REAL-ESTATE SECURITIES
LONG-TERM BONDS

Purpose of issue
AcquiTo
Real
finance estate- sitions
conand imstruc- mort- provegage
tion
ments

Grand
Total

YEAR AND MONTH

INTEREST
RATES

Kind of structure
Office
and
other
commercial

All
other

Hotels

Apartments

Total
shortterm
bonds

All
other

Total
stocks
Longterm

Thousands of dollars
1922, total
1923, total
1924, total

January
February
March
April

160, 059
239, 283
319, 253

_

19, 335
12, 879
15, 160

1 74, 050
116,670
146, 567

32, 115
52, 250
59,563

550
2,050
4,725

300
250
1,820

1,050
3,685
7,450
50

1,250
1,500

_ _
...

3,150
7,635
10, 095
2,965

|

2, 300
5,335
3, 550
2,965

6.91
6.58
6.50

6.63
6.37
6.52

850
2,100
2,320

200

1,175
2,235
200
1,000

7.30
7.27
6.93
7.47

8.00

1,500
945

7.18
6.66
7.00
6.75

6.50
7.00
7.00
6. 50
6.00
6.50

9,231

6.95
6.51
6.50
6.45

90

6.56
6.60
6.70
6.50

8,225
19, 490
6,150
5,250

8,075
450
2,150

6,188
8,450
1,518
77

3,140
9,737
550
625

300
400
35
200

475
3,400
1,850
4,300

1,150
7,050
4,700
9,800

9,100
2,800
5,175

1,180
4,250
1,150
4,060

875
1,150
1,300
2,400

125
1,000

500
600
200
670

5,351
8,050
7,800
1,795

2,360
600
1,210

225

3,810
2,990
3,470
330

1,875
5,100
3,650
6,050

1,250
1,700
3,194
1,600

6,750
6,075
5,560
7,700

12, 300
4,575
5,715

5,050
2,450
2,825
5,000

1,325
3,250
9,819
1,825

9,000
11, 250
2,200

350
950
880
985

3,600
18, 625
18, 950
26, 415

4,620
3,800
1,910
5,210

6,640
1,730
3,505
4,188

2,655
1,450
2,156
1,725

4,075

6,000
2,350
10,500
9,750

4,075
8,500
2,075
12, 805

5,615
975
7,598
1,455

884
1,350
1,203
3,425

225
325
635

13, 787
8,515
11, 880
10, 110

3,800
2,300
1,168
3,425

3,665
4,560
11, 730
4,100

3,090
570
1,880
933

200
130
210

3,150
300
2,000
500

6.48
6.62
6.52
6.45

6.50
7.00
6.75

2,300
4,590
1,000
2,510

3,080
1,145
1,900
3,775

15, 880
20, 570
17, 320
19, 905

2,795
3,215
11, 115
4,290

8,358
3,124
5,537
10, 085

12, 785
3,640
4,285
12, 277

785
800
210
600

1,200
1,135
950
500

6.41
6.46
6.33
6.29

6.17
7.00
6.00
6.00

8,998
9,210
7,350
10,708

14, 680
530
5,400
950

1,357
3,340
1,283
5,090

21, 693
7,220
25, 138
28, 685

10, 275
6,320
8,115
3, 763

11,268
4,058
7,602
7,888

5,138
13, 660
12, 533
11, 525

2,800
1,250
4,585
3,185

2,720 1
6,775
3,000
5,515

6.40
6.48
6.27
6.28

6.00
6.20
5.95
6.19

4,553
27, 091
9,420

1,550
10, 405
8,145

2,895
11, 455
5,485

23,462
37, 745
13, 756

2,000
23,365
16, 655

9,801
7,855
6,630

4,590
39, 230
23, 058

600
5,350
620

6.29
2,717

6.00
6.51

3,205
21, 550
9,950
21, 435

2,180
7,675
7,500
10, 685

January
February
March
April

21, 385
15, 665
12, 480
2,350

18, 885
11,840
8,930
1,680

May . . .
June
July
August -.

13, 125
24, 075
22, 779
20, 240

10, 000
14,950
12, 860
11, 940

2,325
3,075
650

Sftptftmhfir
October
November
December

17, 520
25, 605
26, 521
37,538

17, 170
8,255
11, 266
28,393

7,400
3,125
5,960

1934
January .
February
March
April

16, 574
13, 175
21, 376
27, 435

16, 074
8,175
18, 448
12,485

500
5,000
2,525
9,550

May
June
July
August

24, 342
15, 945
26, 658
18, 568

19, 112
11, 455
24, 233
15, 258

5,005
4,165
1,615
2,935

175
375

39, 818
30, 549
38, 257
46, 557

30, 038
20, 614
24, 622
27, 265

4,400
4,200
10, 735
1,301

48, 373
31, 258
53, 387
51, 861

23, 338
18, 178
39, 355
35, 113

39, 853
108,195
60,099

30, 855
59, 244
37, 004

_ .

.

16,286
11, 548
10,928

1,615

16, 613
29, 725
5,868
7,027

September
October
November
December.

2,480
1,331
5,320

25,047
28,375
46,322

350
325
1,300

17, 553
45, 752
8, 668
8,102

.

28, 847
41, 987
66, 802

|

19.23
.

May
June
July
August

Per cent

26, 512
44, 350
12, 678

101,422
12,790
156, 169 i 25, 885
228,117 ! 51,931

Shortterm

. . .

540
8,400
200
850

3,687

400
3,940
2,600

225
550
10, 475

600
2,200

4,250

220

5.50

1933

September
October
November
December

_
..

2,000
3,225
3,350

403
1,325

9,865
4,025

2,500

1,081
6,358
1,400

800
250
400
700
535
200
1,650

493

6.45
6.52
6.42
6.66
6.57
6.70
6.51
6.72
6.58
6.63
6.70
6.51

5.87
6.73

6.50

7.00
6.00
6.75

1935
January
February
March
April

_

May
June
Julv
August

November

_,

1

i

1

!

1

a 25

1

Compiled from data published by Commercial and Financial Chronicle. Data represent only those real estate securities offered and sold by mortgage bonding houses,
while the interest rates shown pertain only to the securities given within this table.




26

TREND OF BUSINESS MOVEMENTS
The following table contains a summary of the monthly figures, designed to show the trend in important
industrial and commercial movements. These data represent continuations of the figures presented in the
latest semiannual number (August, 1925), in which monthly figures for 1924 and 1925 may be found, together
with explanations as to the sources and exact extent of tne figures quoted. The figures given below should
always be read in]connection with those explanations. Data on stocks, unfilled orders, etc., are given as of the
end of the month "referred to. For explanations of relative numbers, including base periods, see introduction
on inside front cover.
Where available, August data have been
included in this table. The cumulative* shown are in most instances,
however, only through July, and where
designated by a footnote through June.
Detailed data for items shown here
may be found on pages 29 to 151 of the
August, 1925, "Survey."

TEXTILES
Wool
Receipts at Boston:
Domestic
.
thous. oflbs
Foreign
thous. of lbs__
Total
thous. oflbs
Imports, unmanufactured
thous. of Ibs
Consumption by textile mills,
grease equivalent
thous. of lbs_ _
Machinery activity, hourly:
Looms—
Wide
per ct. of hours active
Narrow
per ct. of hours active
Carpet and rug.per ct. of hours active. _
Sets of cards
per ct. of hours active
Combs
per ct of hours active
Spinning spindlesWoolen
per ct of hours active
Worsted .
per ct. of hours active
Prices:
Raw, Ohio,
24 blood, unwashed
dolls, per lb._
Raw, territory fine,
scoured
dolls, per lb__
Worsted yarn
dolls, per lb._
Women's dress goods
dolls, per yd__
Men's suitings
dolls, per yd..

May

8,866
7,340
16, 206
22, 387




July

20,490
6,334
26,824

38, 378

7,544
45,922
20,802

August

20, 559
14, 439
34, 998

June

July

25, 918

35, 864
1,577
37, 441
6,061

32, 660

28, 125
16, 397

2,207

August

4,676

37, 336
8,631

July,
1925,
from
June,
1925

July,
1925,
from
July,
1924

CUMULATIVE TOTAL
FROM JAN. 1
THROUGH JULY 31

1934

1925

+87.3 +7.0
+19.1 +378. 4
+71.2 +22.7
+1.6 +243. 2

112, 737
75, 010
187, 747
182, 162

85, 509
112, 816
198, 325
213, 588

+20.7

297, 726

304, 193

+6.8

40, 781

30, 972

33, 778

40, 064

66
59
73
86
58

38, 176
i~'
F
65
59
70
82
64

61
52
65
80
65

62
57
49
85
53

58
50
52
77
53

58
54
57
73
68

85
54

83
53

79
54

79
48

72
44

72
51

Per
cent
increase
(+)
or decrease
(-)
1925
from
1924

-24.2

+50.4

+ 5.6
+17.3
+2.2

-6.2 +5.2
+4.0
-11.9
-7.1 +25.0
-2.4 +3.9
+1.6 +22.6
-4.8 +9.7
+1.9 +22.7

38, 246

.45

.50

.52

.51

.44

.44

.48

+4.0

+18.2

1.24
1.750
1.035

1.31
1.750
1.035

1.37
1.700
1.035

1.31
1.650

1.28
1.600
1.035

1.30
1.550
1.035

3.600

1.36
1.600
1.035

3.600

+4.6
-2.9
0.0
0.0

+5.4
+9.7
0.0
0.0

+19.4
-50.3

-39.4
+50.5

2,971
222, 908

4,144
215, 273

+39.5

-7.0
-2.0

-4.3
+39.4

2, 450, 810
3, 162, 655

3, 846, 386
3, 828, 769

+56.9

-1.1
+19.9
-23.7

+3.6
+3.3
+5.1

3.600

Cotton
Receipts into sight—
thous. of bales
311
Imports, unmanufactured.
bales
14, 219
Exports, unmanufactured
(including linters)..
_ bales
330, 967
Consumption by textile mills
bales.. 531,471
Stocks, end of month:
Total, mills and w'houses.. thous. of bales. _
2,483
Mills
_ . thous. of bales
1,348
Warehouses...
thous. of bales
1,135
World visible,
American
.
thous. of bales
3,848
World visible, total
thous of bales
2,253
Machinery activity of spindles:
Active spindles
thousands
33, 148
Total activity
millions of hours
7,930
Activity per spindle
hours. _
210
Per cent of capacity
per cent
93.6
Cotton finishing:
Orders received,
grey yardage
thous. of yds. . 63, 128
Billings, finished goods (as
]
produced)
thous. of yds.. 75, 463
Shipmentsfinishedgoods
. . cases
40, 573
Stocks, finished goods
cases
40, 460
Operating activity
per ct. of capacity. .
52
Manufactured goods:
Cotton cloth exports
thous. of sq. yds.. 47, 108
Fabric consumption
by tire manufacturers
thous. of lbs_.
14, 985
Elastic webbing sales
thous. of yds..
15,784
Fine cotton goods:
Production
_
pieces.. 468,216
Sales
.
_. pieces
272, 655
Prices:
Raw cotton to producer
dolls . per lb. .
.230
Raw cotton, New York
dolls, per lb_.
.234
Cotton yarn
_
_
22/1 cones, Boston
dolls, per lb__
.399
40/13, New Bedford
..dolls, per lb..
.558
Print cloth
dolls, per yd..
.093
Sheetings
_
dolls, per yd..
.104
Cotton goods (Fairchild) _ . .index number. .
.188
Silk
Imports, raw
thous oflbs
Deliveries (consumption)
.
bales. .
Stocks, end of month:
At warehouses
_
..bales..
At manufacturers' plants
bales. _
Price, Japanese, New York
dolls, per lb_.
Silk machinery activity:
Broad looms
per cent of operation..
Narrow looms.. . per cent of operation _
Spinning spindles
per cent of operation..

June

20, 468

PER CENT INCREASE (+) OR
DECREASE (— )

1924

1925

3.600

3.600

3.600

3.600

129
19, 957

9,927

9,266

13,641

6,597

254

395
4, 136

202,468

315,825

230, 979

277, 641
357, 380

154

780

220

217, 786
493, 765

483, 898

448, 665

350,021

211, 533
347, 099

1,884
1,124
760

1,380
866
514

1,721
681
1,040

1,832
950
882

1,396
722
674

1,355
553
802

-26.8
-23. 0
-32.4

-3.4

-29.7 +19.3
-21.1 +7.0

2,969

2,343

2,232

2,667

1,223

933
2,190

823
1,898

32, 310

31, 761

31, 270

29, 219

28, 799
5, 158

29, Oil

141
64.6

HM36

1,583

7,690

203
89. OJ

1,113

7,298

1,099

192
84.3

5,336

5,400

60.3

143
62.8

-1.7
-5.1
—5.4
-5.3

+21.1

+10.3
+41.5
+41.2
+39.8

65, 103

69,364

55, 955

59, 514

71, 630

+6.5

+16.6

510, 477

528. 628

70, 593
40, 133
41, 461
51

69, 281
39, 153
40, 710
52

64, 761
33, 397

58,322

43,586

33, 514
42, 378
45

+18.8
-1.9
-2.4
+16.8
-1.8 -3.9
+2.0 +15.6

543, 080
296, 732

561, 186
311, 794

46

63, 895
35, 951
41, 850
47

37, 367

41,643

39, 349

37, 390

49, 367

+11.4

+11.4

241,978

321, 495

+ 32.9

15,841
14,267

16,014

10, 067

8,620

12, 471

+1.1 +63.6
-13.5 +31.0

79, 207
74, 121

102, 458

12, 344

9,789
9,424

99,156

+29.4
+33.8

404, 157
356, 251

417, 603
312, 962

284, 726
215, 566

293, 015
464, 194

318, 513
267, 784

+3.3
-12.2

+42.5
-32.6

2, 418, 076
1, 675, 825

2, 992, 085
2, 697, 945

+61.0

.230
.242

.234
.248

.238
.238

.278
.300

.273
.317

.278
.293

+1.7
+2.5

-14.3
-21.8

.403
.543
.093
.097
.183

.415
.543
.095
.096
.182

.423
.095
.104
.185

.474
.597
.091
.108
.195

.471
.589
.091
.108
.194

.469
.578
.093
.116
.199

+3.0
0.0
+2.2
-1.0
-0.5

-11.9
-7.8
+4.4
-11.1
-6.2

4,572

4,989

29,142

30, 952

29, 518

40, 924
284, 465

+40.4
+43.9

23, 213
17, 360

30, 075
18, 971

6,076

-19.1 +53.4
-6.0 +52.7
-0.8 +17.3

61.9
46.3
64.9

68.7
44.5
66.6

+0.6 -+44. 3
+0.7 +32.6
+0.1 +58.7

6,697

5,428

6,246

38, 266

39, 575

44, 013

44, 047

3,616
23, 164

42, 517
27, 104
6,174

28,189
6,370

44, 013

35, 598
26, 505
6,321

32, 017

24, 843

86.0
62.0
101.1

88.8
61.0
102.9

89.3
61.4
103.0

6,468

16,833
4,998
61.8
43.0
59.9

5,390

9,862

+15.1 +36.6
+11.2 +42.2

197, 645

+23.7

27
TREND OF BUSINESS MOVEMENTS—Continued
Where available, August data have been
included in this table. The cumulatives shown are in most instances,
however, only through July, and where
designated by a footnote through June.
Detailed data for items shown here
may be found on pages 29 to 151 of the
August, 1925, "Survey."

TEXTILES— Continued
Clothing
Men's and boys' garments cut:
Suits
Separate trousers
Overcoats.
_
Work clothing:
Cut - _ .
Stocks end of month
Returned
Shipments
_

thous
thous
thous..

1925

May

June

1,200
1,472
290

237, 023
324, 729
1,987
204, 566

277, 021
346, 039

thous of dozen pairs
thous of dozen pairs
thous of dozen pairs
thous. of dozen pairs
thous of dozen pairs

3,921

July

August

223, 008

July

August

212, 915
335, 640
1,678
208, 901

1,170
1,232
512

152, 128
337, 155

173, 388
306, 551
2,514
188, 717

Julv,
1925,
from
June,
1925

July,
1925,
from
July,
1924

CUMULATIVE TOTAL
FROM JAN. 1
THROUGH JULY 31

1934

1925

Per
cent
increase
(+)
or decrease
(-)
1925
from
1924

1,252
1,506
626

153, 178
367, 015

3,865
4,050
6,039

2,384

June

1,166
1,276
466

1,614
1,843
403

dozen
dozen
dozen
dozen

PER CENT INCREASE (+) OR
DECREASE (— )

1924

3,080

2,086

170, 500

164, 717

3,091
3,010

2,660
2,773
6,396
2,644
4,524

-23.1 +40.0
3.0 -0.4
-29.6 -19.6
-6.3 +26.8

1, 409, 057

1, 774, 332

+25.9

19, 828
1, 344, 799

23, 144
1, 559, 579

+16.7
+16.0

3,095
6,265
3,203
4,548

Hosiery
Production
Shipments
Stocks
New orders
Unfilled orders

3,623
6,235

6,557
2,589
4,673

2,912

3,961

4,179

thous. of Ibs
long tons

61, 115
24, 131

50, 604
38, 280

52, 664

41, 817

23,498

34,728

42, 421

16,042

27, 781

22,380

+4.1 +51.6
-58.1 -42.3

362, 404
183, 333

386, 398
190, 019

+6.6
+3.6

Pyroxylin Coated Textiles
Pyroxyline spread
thous of Ibs
Shipments billed
linear yds
Unfilled orders, first of month
linear yds

2,249
1,995
1,437

2,171
1,752
1,730

2,379
2,022

1,471
1,268
1,089

1,602
1,225
1,128

1,659
1,299
1,289

+9.6 +48.5
+15.4 +65.1
-6.1 +44.0

16, 484
12, 163

15, 678
13, 296

-4.9
+9.3

21, 049
16, 527

25, 404

20,397
5,007
3,863

30, 332
24, 720
5,612

26, 410
21, 102

31, 596
25, 842

35, 703
29, 248

4,522
4,357

+19. 4 -4.0
+21.2 -4.3
+12.1 -2.5
-0.5 +59.1

8,314

7,958

5,376
2,328

2,139

2,276

2,931
624

2,673

2,664

560

627

196
89, 500
49.4

189
86, 250
47.7

190
86, 420
48.5

8,034

8,302

Burlap and Fibers

Imports:
Burlap.
Fibers (unmanufactured)

1,624

IRON AND STEEL
Iron Ore and Pig Iron

Iron ore:
StocksTotal
thous of long tons
At furnaces
thous. of long tons
On Lake Erie docks_thous. of long tons..
Consumption
thous. of long tons
Shipments from
mines
thous of long tons
Receipts—
Lake Erie ports and
furnaces
thous. of long tons
Other ports.
thous. of long tons
Pig-iron production:
Total
thous. of long tons
Merchant furnaces
thous. of long tons..
Furnaces in blast, end of month:
Furnaces
number
Capacity
long tons per dav
Per cent of total
per cent
Ohio gray-iron foundries:
Meltings
long tons
M^eltings
per cent of normal
Stocks
long tons
Receipts
long tons
Wholesale prices:
Foundry No. 2,
Northern
dolls per long ton
Basic (valley furnace). .dolls, per long ton..
Composite pig iron ^dolls. per long ton..
Malleable castings:
Production
tons
Shipments
tons..
Orders booked
tons
Operating activity
per ct. of capacity. .
Crude Steel
Steel ingots, production
thous. of long tons..
Steel castings:
Total bookings
short tons
Railroad specialties
short tons
Miscellaneous bookings
short tons
U. S. Steel Corporation:
Unfilled orders,

8, 533

6,217

3,207

3,088

48, 413
16, 675
31, 738

19, 199
4,619

21, 675

4,658

+12.9
+0.8

151, 953

132, 478

-12.8

110, 314

110, 003

-0.3

369, 191
369, 931
319, 856

401, 460
393, 477
355, 536

'+8.7
+6.4
+11.2

18, 658

14, 583

25, 414
14, 681

54.20
25,054
11,920

21.51
19.63
21.20

20.76

20.89

19.00
20.11

20.22

33,323

30,070

34, 350
35, 653

37, 821
22, 330
31.5

62.50

35, 256
29, 190
28.3

19.00

32,501
32.4

2,553

-3.7 +64.4

21, 615

25, 494

+ 17.9

36, 363
14, 532
21, 831

+ 12.5 +42.6
+ 19.7 +22.8
+8.8 +57.3

436, 887
218, 453
218, 434

415, 479
164, 498

-4.9
-24.7
+14.9

+70.8 ! 1,497,662 1, 944, 268
+55.0
+47.7 1, 465, 668 1, 768, 168
+85.9 1, 229, 431 1, 660, 497
+134.0

+29.8

22,548

16,244

21, 947

3,290
190,436

130,940

42, 081

497, 152
506, 894
44, 631
852,594 1, 109, 383

132, 552
51, 614

3,513

35.25
38.37

35.00
37.61
2.65
2.44
2.00

35.00
37.45
2.63
2.43
2.00

35.00
37.33
2.61
2.42
1.93

135,998
203,440

65.2
177, 498

207,986
236,614

110, 419
39, 621

112,729
42,635

-1.2 +18.6
-18.5 +6.2

385, 155
382, 550
49, 160
421, 870

508, 880
54, 373

250,981

-4.6 +11.0
-7.5
-9.5
-3.3
-11.7
+8.0

128, 241
45, 776

475,950

514,913

569, 670
48, 340
950, 353

+77.8
+45.7
+81.3
+77.0

1,878

3,187

133, 513
52, 051

-3.1
-5.7
+20.2
-2.9

38, 191

144, 291
48.7
151, 255

short tons
short tons

-2.4
-5.3
-1.9

2,066

3,263

short tons
short tons
short tons..

+1.0
-0.3
-0.3

48, 718
26, 170

3,424

114, 807
40.9
141, 176
108, 693
246, 810

3,539

2.69
2.46
2.00

+49. 2
+42.2

-0.3
+12. 0

-14.2 -8.3
+16.8 +36.5
-26.0 -33.2
-14.2 -3.4

246, 404
75.5
223, 454
252, 871

Comoosite steel
dolls per 100 Ibs
Composite finished steel.-dolls. per 100 Ibs..
Sfrnr»tnrfl1 sfppl hpnms drills nprlOOlhs

+21.2
+38.9

15, 403

19, 953
34, 521

3,710

570,962

18, 433
8,100

72.00
24,586

54,474

266, 290
83.4
231, 006
286, 453
440, 687

barrels
barrels .
barrels

15, 211
5,831

20, 251

53, 450
51, 384
52, 916
50.1

3,458

+4.1 +14.5
+6.4 +16.5

1,517

+0.5 +31.9
+0.2 +56.1
+1.V +35.9

85.30

49, 619
16, 055
33, 564

4,974

150
63, 070
37.5

18.00

55, 143
54, 510
44, 026
51.6

5,431
1,953

144
55, 350
35.7

20.26

57, 289
57, 260
47, 247
54.3

+21.8

164
65, 200
40.0

18.00
19.72

18.05
19.78

26, 918

192
87, 300

20.26

20.06

22, 107

1,887
474

17, 117

18.81

+13.6

+7.1 +17.1

1,785
441

16, 977
14, 180

20.89

32, 607

6,690

519

19, 940

20.65

28, 699

7,280

2,026

22, 953
16, 525

73.00

5,754

580

2,704

28, 320
15, 393

77.80

2,415

7,584
2,009

20, 311

4,050

Wholesale prices:
Steel billets, Bessemer..dolls. per long ton..




8, 525

6,455
2,636

5,421

3,842

260, 470
87.0
232, 372
186, 538
399, 330

Sheets, blue, black, and galvanized:
Production (actual)
short tons
Shipments
Sales
Unfilled orders, end of mo..
Stocks, end of mo.—
Total
Unsold
Steel barrels:
Production
Shipments
Stocks end of month

5,975

5,308
2,793

398, 397
407, 258

47,629

396, 112
398, 312
45, 429

519, 034

715,480

-3.4 +24.8
-0.4 +24.5
-17.9 —6. 3
+30.1 + 113.7

38.00

38.00
39.79

37.75
39.36

2.81
2.56
2.20

2.76
2.52
2.20

40.61
2.84
2.61
2.30

0.0
-0.4
-0.8
+0.4
0.0

-7.9
-5.9
-6.4
-5.1
-9.1

2, 691, 194
2, 696, 483

3, 517, 377
3, 524, 617

+20.6
+35.1

+30.7
+30.7

28
TREND OF BUSINESS MOVEMENTS—Continued
Where available, August data have been
included in this table. The cumulatives shown are in most instances,
however, only through July, and where
designated by a footnote through June.
Detailed data for items shown here
may be found on pages 29 to 151 of the
August, 1925, "Survey."

1925

PEE CENT INCREASE (+) OB

1934

DECREASE (— )

May

IRON AND STEEL— Continued
Iron and Steel Products
Exports (selected series)
longtons.. 112, 290
150, 612
Exports (total)
long tons
62, 223
Imports
--long tons _.
Structural steel, fabricated:
Sales (prorated)
short tons _ . 200, 100
Sales
per ct. of capacity __
69
Shipments (prorated)
_ short tons.. 226, 200
Shipments
per ct. of capacity..
78
Steel plate, fabricated, bookings:
Total
-.
short tons.. i 27, 684
Oil storage tanks
short tons..
8,503
Steel furniture:
Business group—
Shipments
dollars _ _ 1, 918, 869
Orders received
dollars 1, 855, 552
Unfilled orders
.dollars.. 1, 383, 424
ShelvingShipments
dollars.. 549, 272
Orders received
dollars __ 523, 426
Unfilled orders
dollars.. 372, 296

in-

crease
( }
or t
decrease
(-)
1925
from
1924

July,
1925,
from
July,
1924

1924

39, 730

+10.5
+1.3
-33.7

+0.1
-0.1
+99.5

920, 043
1, 131, 641
269, 102

765, 080
980, 957
498, 062

-16.8
-13.3
+85.1

171, 100
59
203, 000
70

-5.7
-5.7
+8.9
+8.9

+20.6
+20.6
+8.9
+8.9

1, 345, 600

1, 450, 000

+7.8

1, 368, 800

1, 496, 400

+9.3

-15.1 +34.0
-60.9 -43.6

152, 514
49, 295

184, 085
48, 301

+20.7
-2.0

July

99, 624
136, 847
76, 403

110, 122
138, 670
60, 618

117, 803
165, 034
53, 362

110, 055
138, 794
25, 372

117, 243

i 252, 300
187
229, 100
79

237, 800

185, 600
64
214, 600
74

197, 200
68
229, 100
79

34, 402
16, 327

29,207

i 29, 232
1
15, 757

1
1

June

cent

July,
1925,
from
June,
1925

June

August

Per

CUMULATIVE TOTAL
FROM JAN. 1
THROUGH JULY 31

July

August

1925

.

DO

249, 400
86
6,381

21, 798
11, 311

1, 805, 599 1, 809, 174
1, 792, 656 1, 841, 138
1, 390, 540 1, 464, 793

514, 117
501, 182
360, 089

135,989

30, 641
15, 927

+0.2
+2.7
+5.3

1

510, 815
482, 187
398, 973

—0.6
-3.8
+10.8

Machinery
Machine tools, orders
-index number. .
Foundry equipment:
Sales
dollars _.
Shipments
- -dollars . _ i
Unfilled orders
dollars i
Stokers:
Sales
_. .number..
Sales
horsepower..
Agricultural pump shipments:
Total
thous. of dolls..
Pitcher hand etc
number
Power pumps
number. _
Steam, power, and centrifugal pumps:
New orders
thous. of dolls __
Shipments
thous. of dolls _ _
Unfilled orders
thous . of dolls . _
Patents issued:
Total all classes
number..
Agricultural implements _ .number __
Internal-combustion engines.
number . .

64.1

66.4

64.2

27.0

29.1

32.2

332, 175
407, 340
463, 431

334, 424
318, 442
460, 383

353, 561
352, 603
457, 925

295, 050
228, 553
513, 001

201, 875
276, 701
410, 694

244, 408
284, 607
378, 016

+5.7
+10.7
-0.5

+75.1
+27.4
+11.5

2, 348, 158
2, 322, 159

2, 467, 005
2, 336, 364

+5.1
+0.6

122
55, 588

128
44, 095

147
58, 719

102
35, 549

115
37, 759

41,931

94

+14.8
+33.2

+27.8
+55.5

660
318, 896

840
351, 297

+27.3
+10.2

601
57, 665
3,136

642
61, 203

1,463
1,392
3,031

1,661
1,539
3,150

1,563
1,498
3,212

1,006
1,315

1,015
1,065

988 i
945

-5.9
-2.7
+2.0

+54.0
+40.7
+41.6

8,065
8,373

9,936

9,115

+23.2
+8.9

3,773

4,724

3,477

-26.4
-17.4
-46.7

-16.0
-8.1
-43.5

24, 465
339
371

26, 430
452
485

+8.0
+33.3
+30.7

79
92

91
29, 865

-3.3 +120.6

3,370

69
90

57
48

2,369
3,513
50
56

2,269

2,330

3,346

4,137
62
85

3,270

45
42

49
62

NONFERROUS METALS
Copper and Brass
Copper:
ProductionMines
short tons.. i 70, 574 i 69, 894
77,041
Smelter
short tons
76, 587
World production, blister
short tons i 125, 174 i 124, 847
52, 924
56, 664
Exports
short tons..
.1335
.1340
Wholesale price, electrolytic
dolls, per lb__

I

67,648

76, 358
125, 375
52, 354
.1395

64, 787
74, 072
121, 717
39, 020
.1239

66, 756
73, 074
119, 166
40, 891
.1322

-3.2
+4.4
-0.3 +3.1
+0.4
+3.0
— 1.1 +34.2
+4.1 +12.6

457, 894
519, 689
846, 267
312, 310

497, 440
557, 155
888, 550
359, 503

.1449

63, 933
74, 948
122, 100
46, 370
.1233

+8.6
+7.2
+5.0
+15. 1

113, 426
99, 982
121. 74

125, 914
118, 855

118.05

283, 933
190, 438
118. 00

-3.6
+4.4
-0.5

+42.8
+52.0
-5.5

1, 657, 730
1, 485, 210

1, 399, 689
1, 277, 191

111. 44

-15.6
-14.0

283, 996
421, 115

307, 400
345, 306

243, 540
275, 309

+12.2
+9.2

+9.5
+1.4

2, 613, 955
2, 824, 949

2, 592, 086
3, 279, 018

-0.8
+16.1

3,454
4,805

3,351
.5141

+17.5
+0.3
+4.9
-3.6
+3.3

-52. 3
-1.5
+64.8
+39.4
+23.9

39, 370
42, 638

45, 675
45, 091

+16.6
+5.8

-0.3
-3.6
-9.3

+14.4
+10.9
-60.6

320, 387

340, 775

+6.4

329, 220
71, 140
317, 495

+11.6
+39.1
+11.3

Plumbing Fixtures
Sales, tubular:
Quantity
_
Value
Wholesale price, 6 pieces
Brass-faucets:
Orders received
Orders shipped

.

number..
dollars
_. dollars _

145, 005
140, 577
113. 69

186, 515
173, 020
112. 16

179, 805
180, 603
111. 55

326, 230
number of pieces
number of pieces. _ 428, 302

320,596

299, 931

336, 609
350, 091

2,054

2,414
19, 857

Tin
Stocks, end of month:
United States _
World visible supply
Deliveries (consumption)
Imports
_
Wholesale price, pig tin

long tons..
long tons..
long tons
_
long tons..
dolls, per lb_.

1,404
20, 897
4,910 ,

19, 797
6, 175

6,985
.5489

6,475
6,735
.5668

86, 457
49, 738
21, 210

82, 358
45, 921
22, 906

71, 248
35, 440

62, 997
33, 680

3,847
.5368

3,644

4,067

5,059

20, 000

20, 094
4,310

20, 161

6,520

24, 302

.5665

4,092
.4227

3,930
4,833
.4575

82, 140
47, 583
20, 771

85, 576
47, 849
17, 032

75, 155
43, 442
49, 684

71, 827
42, 913
52, 705

72, 195
41, 775
50, 922

45, 836

.0699

19, 920
.0721

.0758

46, 351
46, 360

73, 727
41, 240
.0618

i 48, 775

47, 957

46, 119

43, 108

41, 096
108, 760

44, 483
5, 125
39, 956
105, 486
.0712

44, 638

45, 397
96, 677

Zinc
Ketorts in operation, end of month
number. _
Production
thous. of short tons..
Stocks, end of month
thous. of short tons..
Ore, Joplin district:
Shipments
thous. of short tons..
Stocks
-thous. of short tons..
Price, slab, prime western
dolls, per lb_.

.0695

48,040
.0579

.0590

-40.9 —57.0
+3.1 +22.2

397 998

Lead
Production
short tons.. i 47, 316
9,605
Ore shipments, Joplin district
short tons
45, 426
Receipts of lead in U. S. ore
short tons
97, 462
Stocks, U. S. and Mexico
short tons..
Price,pig desilverized (New York)_dolls. per Ib. , 1
. 0799
1
Revised.




10,089

.0832

7,822

.0815

5,968

.0919

.0702

9,470

-1.7
-22. 5
-5.0

+7.8
+52.6
+7.9

.0783

-2.0

+14.5

43, 061
103, 457

294, 931
51, 138
285, 270

29
TREND OF BUSINESS MOVEMENTS—Continued
Where available, August data have been
included in this table. The cumulative* shown are in most instances,
however, only through July, and where
designated by a footnote through June.
Detailed data for items shown here
may be found on pages 29 to 151 of the
August, 1925, "Survey."

NONFERROUS METALS— Continued
Babbitt Metal
Consumption:
Total apparent
thous. lbs._
Direct by producers
thous. Ibs
Sale to consumers
_
thous. lbs__

May

June

PER CENT INCREASE (+) OR
DECREASE (— )

1924

1925

July

August

June

July

August

July,
1925,
from
June,
1925

July,
1925,
from
July,
1924

CUMULATIVE TOTAL
FROM JAN. 1
THROUGH JULY 31

1925

1924

5,082
892
4,190

5,035
950
4,085

5,184
1,490
3,694

short tons. .
short tons

507
3,384

752
3,193

516
3,091

1,761
2,866

1,726
3,049

1,502
3,222

-31.4
-3.2

-70.1
+1.4

11,'x.^.

short tons
short tons _

461
6,505

1,317
7,018

804
7,085

1,486
2,164

1,622
2,685

1,674
3,755

-39.0 -50.4
+1.0 +163. 9

11, 342

number..
number .

138
49, 615

137
50, 590

148
49, 962

thous. of dolls..

2,009

2,454

7,004

1,676

3,639

35, 474
1,357

37, 167
1,436

39, 582
1,648

31, 433
1,514

33, 317
1,631

Per
cent
increase
(+)
or decrease
(-)
1925
from
1924

+3.0
+56.8
-9.6

Arsenic

Crude:
Production
Stocks
Refined:
Production
Stocks

__
_

-51.2

7,580

-33.2

Fire Extinguishers
Shipments:
Motor vehicles
Hand types

880
342, 192

+8.0
-1.2

Farm Implements
Sales in Northwest

3,772 +185. 4

+92. 5

10, 390

18, 051

+73.7

+6.5
+14.8

+18.8
+1.0

268, 381
8,741

274, 468
8,046

+2.3
-8.0

FUELS
Coal and Coke
Bituminous:
Production
. . . thous. of short tons
Exports
thous of long tons
Consumption —
By vessels clearing
port
- .thous. of long tons
By electric power
plants
. _ thous. of short tons
PricesMine average, spot-dolls, pershort ton..
Wholesale, Kanawha, f. o. b.
Cincinnati
dolls, per short ton..
Retail, Chicago ...dolls, per short ton..
Anthracite:
Production
thous. of short tons .
Stocks, distrib. points.. thous. of long tons..
Exports
thous. of long tons
PricesWholesale, chestnut,
New York..
dolls, per long ton..
Retail, chestnut,
New York
dolls, per short ton..
Coke:
Production—
Beehive
thous. of short tons
By-product
thous of short tons
Exports
. thous. of long tons
Price, furnace,
Connellsville
dolls, per short ton

35, 892
1,393

400

394

410

341

346

317

+4.1

+18.4

2,365

2,489

+5.2

1 2, 965

3,090

3,171

2,680

2,789

3,016

+2.6

+13.7

21, 408

22,200

+3.7

0.0
+4.6

1.97

1.95

3.39
8.06

3.39
8.23

3.39
8.21

8,134
3,913
325

7,804
4,203
314

8,544

2.03

463

1.98

1.99

3.39
7.85

3.39
7.85

3.39
7.85

0.0
-0.2

7,704
2,677
349

3.39

7,782
3,198
290

7,086
3,779
257

+9.5

+9.8

53, 701

53, 607

-0.2

+47.5

+59.7

2,052

2,118

+3.2

6,550
19, 909
403

5,777
22, 914
416

-11.8
+15.1
+3.2

1

10.88

10.96

11.07

11.16

11.28

11.38

+1.0

-1.9

13.68

13.78

13.88

13.63

13.70

13.78

+0.7

+1.3

613
i 3, 285
59

596
i 3, 155
50

532
3,168
64

555
2,426
48

447
2,369
49

434
2,446
42

-10.7
+0.4
+28.0

+19.0
+33.7
+30.6

3.11

2.90

2.91

3.23

2.96

3.00

+0.3

-1.7

59, 292

61, 083

61, 704

+1.0

+10.2

413, 099

437, 503

+5.9

351, 218
6,660

356, 240
6,502

362, 985
5,762

-0.9
-16.9

-1.0
-34.1

49, 297

40, 315

-18.2

59, 943
52, 436
11, 254
20, 691
1.550
1,521

61, 154
52, 877
10, 886
21, 167
1.550
1,593

59, 479
54, 658
10, 530
20, 970
1.375
1,389

+4.2
-5.3

+27.8
-22.5

369, 137
83, 164

423, 718
70, 168

+14.8
-15.6

0.0
+5.0

+16.1
+12.4

8,972

9,697

+8.1

+2.4 +30.3
-6.1 +21.6

5, 135, 330
671, 861

6, 169, 289
733, 684

+20.1
+9.2

11.16

3.19

Petroleum
Crude petroleum:
Production .
thous. of bbls
68, 082
66, 675
67, 318
Stocks, end of monthTank farms and pipe
lines. _ _
_
thous. of bbls.. 357, 444 355, 958 352, 698
6,484
5,153
Imports
_
thous. of bbls..
4,283
Consumption74, 592
Total
thous. of bbls.. 69, 777
64, 847
62, 380
Run to stills
thous. of bbls
67, 578
8,913
Shipments from Mexico
thous. of bbls. . 10, 254
8,440
19, 189
Storage
thous. of bbls._
1.800
1.800
1.800
Price, Kansas-Oklahoma
dolls, per bbL.
1,671
1,706
1,791
Oil wells completed
number. .
Gasoline:
Production
_
thous. of gals.. 922, 046 944, 175 966, 908
98, 510 111, 690 104, 857
Exports
thous. of gals
Domestic consumption
thous. of gals. . 845, 716 872, 356
Stocks, end of month
thous. of gals.. 1, 567, 602 1, 547, 772 1, 470, 689
.190
.215
Price, motor, New York
dolls, per gal
.220
Kerosene oil:
202, 559 193, 664 193, 471
Production
thous. of gals
Domestic consumption
thous. of gals..
Stocks.
thous. of gals. .~~437~358" "456," 256" "428,"872~
.075
.075
.072
Price
dolls, per gal-Gas and fuel oil:
Production
thous. of gals.. 1, 274, 465 1, 360, 386 1, 444, 984
ConsumptionTotal
thous. of gals. . 196, 157 188, 771 157, 071
By vessels
thous. of gals.. 167, 790 156, 240
1, 910, 695 2, 183, 676 2, 358, 086
Stocks at refineries, end of month
do
.913
.935
Price, Okla.,24-26atrefineries.dolls. per bbl..
.906
Lubricating oil:
Production
.thous. of gals.. 109, 184 104, 535 104, 396
Domestic consumption
thous. of gals
Stocks
thous. of gals. . 287, 492 274, 204 283, 020
.199
.179
.184
Price. 600° steam refined
dolls. Der gal..
* Revised.




1.720

737, 081 741, 975 755, 780
110, 164
108, 685
86, 246
686, 674 789, 667 819, 468
1, 598, 858 1, 470, 923 1, 311, 021
.202
.200
.195
.188

.072

183, 141
111, 401
293, 323
.073

194, 201
105, 548
301, 157
.072

204, 107
133, 473
304, 136
.072

1, 106, 712 1, 102, 786 1, 167, 211

209, 775 219, 328 218, 852
160, 046
155, 904
153, 300
1, 618, 564 1, 605, 951 1, 658, 671
.780
.781
1.035
.781

.161

96, 995
58, 668
248, 586
.185

87, 490
65, 348
245, 626
.178

92, 761
66, 368
242, 753
.165

-5.0
+2.3

r"

0.0
+12.8
1, 395, 153

1, 472, 913

+5.6

+31.0

7, 684, 924

8, 744, 190

+13.8

-28.4

1, 019, 114

1,063,305

+4.3

675, 377

747, 372

+10.7

-0.1

-0.4

-6.0
-4.0

+42.4
0.0

+6.2
-16.8

+8.0 +46.8
-3.1 +16.0
-0.1 +19.3
+3.2
-7.5

+15.2
+3.4

30

TREND OF BUSINESS MOVEMENTS—Continued
Where available, August data have been
The cumulaL included in this table.
tives shown are in most instances,
however, only through July, and where
designated by a footnote through June.
Detailed data for items shown here
may be found on pages 29 to 151 of the
August, 1925, "Survey."

1935

PER CENT INCREASE (+) OR
DECREASE (— )

1924

CUMULATIVE TOTAL
FROM JAN. 1
THROUGH JULY 31

Per
cent
increase
(+)
or decrease
(-)
1925
from
1924

June

July

August

July,
1925,
from
June,
1925

357, 883
346, 728
11, 155

225, 079
214, 322
10, 757

244, 544
235, 925
8,619

255, 232
249, 796
5,436

-1.9
+46.3
-1.1 +47.0
-21.7 +29.4

38, 042
36, 248
1,794

41, 718
39, 938
1,780

29, 067
28, 117
950

26, 391
25, 284
1,107

28, 647
27, 767
880

+9.7
+10.2
-0.8

+58.1
+58.0
+60.8

228, 815
217, 606
11, 209

278, 534
266, 150
12, 385

+21.7
+22.3
+10.5

20, 408
17, 310
3,098
7,329

20, 859
16, 567
4,292
5,704

12, 341
10, 142
2,199
6,560

11, 703
9,946
1,757
5,581

13, 914
12, 220
1,694
4,596

+2.2 +78.2
-4.3 +66.6
+38.5 +144. 3
-22.2 +2.2

106, 572
90, 235
16, 337
47, 586

162, 329
134, 741
27, 588
48, 854

+52.3
+49.3
+68.9
+2.7

6,081
4,811
1,270
16, 839

4,284
3,021
1,263
16, 194

4,636
3,512
1,124
12, 976

4,319
3,519
800
12, 896

3,147
2,575
572
10,460

-29.6
-37.2
-0.6
-3.8

-0.8
-14.2
+57.9
+25. 6

35, 487
27, 449
8,038
84, 743

39, 895
31,460
8,435
107, 931

+12.4
+14.6
+5.0
+27.4

11, 506

12, 333

8,425

7,606

6,156

+7.2

+62.1

65, 154

62, 899

-3.5

959

660

917

902

702

-31.2

-26.8

6,903

4,135

-40.1

45, 559

36,899

52, 066

59, 314

48, 380

-19.0

-37.8

365, 128

242, 605

-33.6

39, 818
36, 932
47, 639
.420

32, 154
53, 367
.619

32, 455
53, 197
.825

29,237
22, 380
31,229
.164

33, 896
19, 474
32, 625
.170

34,992
21, 772
40, 385
.211

+0.9 +66.7
-0.3 +63.1
+33.3 +385. 2

181, 727
244, 727

209, 327
332, 616

+15. 2
+35.9

thousands..
thousands..
thousands..

4,100
6,458
4,333

4,063
5,432
4,950

4,191
4,815
4,624

2,630
6,156
2,663

2,552
5,138
3,484

3,235
4,477
3,688

+3.2
-11.4
-6.6

+64.2
-6.3
+32.7

thousands .
thousands..
thousands..

5,134
9,376
5,908

5,207
7,807
6,683

5,658
6,477
6,761

3,493
8,166
3,858

3,857
6,634
5,318

5,016
5,758
5,552

+8.7
-17.0
+1.2

+46.7
-2.4
+27.1

thousands. _
thousands..
.thousands..

58
124
68

64
116
70

58
112
58

38
176
46

31
165
40

38
146
45

May

AUTOMOBILES
Production:
Passenger cars —
Total
number of cars
382, 714
United States
.number of cars_. 364, 363
Canada
. number of cars.. 18, 351
TrucksTotal
r--r ^yj- of cars
43, 303
United Sta4"
number of cars.. 41, 415
Canada _
number of cars .
1,888
Exports:
Assembled—
Total
,
number of cars
29,871
Passenger cars
. .number of cars.. 24, 562
Trucks
number of cars
5,309
Accessories and parts
thous. of dolls. .
9,081
From CanadaTotal
- .number of cars .
5,753
Passenger cars
number of cars..
4,633
Trucks
number of cars..
1,120
Foreign assemblies.
number of cars.18, 237
Internal-revenue taxes collected on:
Passenger automobiles and
motor cycles
thous. of dolls.. 10, 028
Automobile trucks and
688
wagons
thous. of dolls..
Sales of automobile accessories
and parts
.
thous. of dolls... 32, 826
RUBBER
Crude Rubber
World shipments, plantation
long tons..
Imports
long tons
Consumption by tire mfrs
thous. of lbs._
Wholesale price, Para, N. Y
dolls, per lb...

June

July

364, 806
350, 557
14, 249

August

0.663

•

July,
1925,
from
July,
1924

1934

1935

2, 096, 681 2, 294, 583
2, 010, 459 2, 203, 219
86, 222
91, 364

+9.4
+9.6
+6.0

Tires and Tubes
Pneumatic tires:
Production
Stocks, end of month
Shipments, domestic
Inner tubes:
Production
Stocks, end of month.
Shipments, domestic
Solid tires:
Production
Stocks, end of month
_
Shipments, domestic __

21, 455

27, 552

+28.4

20, 234

27, 142

+34.1

27, 304

35,900

+31.5

26, 483

36, 193

+36.7

-9.4
+87.1
-3.4 -32.1
-17.1 +45.0

342

364

+6.4

309

376

+21.7

202, 516
23, 143
98,025
33, 649
36, 080

233, 444
18, 384
108, 633
50, 018
41, 669

+15.3
-20.6
+10.8
+48.6
+15.5

8,339
150, 226
458, 152
772, 500
219, 466

9,034
160, 757
437, 651
695, 154
243, 492

+8.3
+7.0
-4.5
-10.0
+10.9

Other Rubber Products
Rubber heels:
Production
thous. of pairs..
Shipments—
To shoe manufacturers. thous. of pairs..
To repair trade
thous. of pairs..
Stocks, end of month
..thous. of pairs. .
Rubber-proofed fabrics:
ProductionTotal
thous. of yds. .
Auto fabrics
...thous. of yds. .
Clothing fabrics
..thous. of yds..

14, 518

14,002

12, 243

10, 451

11, 476

8,006
5,264
47, 076

10, 229
6,045
46, 774

7,018
5,179
36, 632

9,262
4,677
32, 144

10, 431
5,098
28, 245

1,400
562
337

1,325
509
339

1,668
656
543

HIDES AND LEATHER
Hides
Imports:
Total hides and skins .
Calfskins
Cattle hides
Qoatskins
Sheepskins
Stocks, end of month:
Total hides and skins...
Cattle hides
Calf and kip skins
Sheep and lamb skins
Prices:
Green salted, packers' heavy
steers
_
Calfskins, country No. 1

thous.
thous.
thous.
thous.
thous.

of lbs_.
oflbs..
of lbs._
of lbs_.
oflbs

26, 002
2,236
9,989
6,171
5,556

36, 338
3,411
16, 967
7,408
6,568

28,780
2,624
12, 712
6,358
4,755

24, 997
2,838
9,451
4,372
6,068

28, 503
4,353
15, 759
3,715
3,403

27, 764
3,887
15,066
3,224
4,870

-20.8 +1.0
-23.1 -39.7
-25.1 -19.3
-14.2 +71.1
-27.6 +39.7

thous.
thous.
thous.
thous.

oflbs..
oflbs..
oflbs..
oflbs..

264, 158
215, 471
30, 625
18, 062

256, 800
202, 145
35, 776
18, 879

259, 078
202, 014
36, 749
20, 315

253, 107
207, 609
29,695
15, 803

245, 155
197, 071
32, 453
15, 63.1

244, 946
197, 628
29, 958
17,360

+0.9 +5.7
-0.1 +2.5
+2.7 +13.2
+7.6 +30.0

native
dolls, per lb__
dolls, per lb..

.143
.183

.147
.200

.166
.218

.125
.171

.131
.180

.156
.194

+12.9
+9.0

+26.7
+21.1

1,286
23, 367
55, 982
96, 159
27, 691

1,331
24, 283
56, 190
89, 604
30, 537

1,293
23, 707
57, 718
99, 889
31, 646

1,064
20, 261
53, 866
76, 274
26, 108

1,151
20, 793
53, 579
73, 787
28, 027

1,169
21, 006
56, 972
86, 013
32, 057

-2.9
-2.4
+2.7
+11.5
+3.6

+12.3
+14.0
+7.7
+35.4
+12.9

123,909

149, 891

229, 537

120, 614

176, 343

200, 031

+53.1

+30.2

92, 650
133, 129

93, 098
130, 948

91, 125
135, 871

87, 204
126, 666

88,086
125, 049

87, 632
125, 322

-2.1
+3.8

+3.5
+8.7

Leather
Production:
Sole leather.. .thous. of backs, bends, sides..
Finished sole and belting
thous. oflbs .
Finished upper
thous. of sq. ft..
Oak and union harness
.stuffed sides
Skivers
doz
Unfilled orders:
Oak and union harness
sides
Stocks in process of tanning:
Sole and belting
__
thous. oflbs..
Upper
thous. of sq. ft..




.176
.213

31
TREND OF BUSINESS MOVEMENTS—Continued
Where available, August data have been
included in this table. The cumulatives shown are in most instances,
however, only through July, and where
designated by a footnote through June.
Detailed data for Hems shown here
may be found on pages 29 to 151 of the
August, 1925, "Survey."

1925

PER CENT INCREASE (+) OR
DECREASE ( — )

1924

July,
June

July

August

from
June,
1925

July,
1925,
from
July,
1924

134, 726
304, 082

151, 399
381, 085

150,273
368, 457

144, 681
346, 867

+2.6
-4.7

-10.3
-17.5

1,374
7,130

1,206
7,422

1,551
6,880

2, 242
6,148

2,076
6,260

.480
.460

.460
.460

.425
.430

.425
.430

.440
.460

-4.2
0.0

+8.2
+7.0

289
504

320
540

327
552

--6.0
-8.6

22, 464
512

21, 389
457

25, 473
512

1925,

May

HIDES AND LEATHER-Continued
Leather— Continued
Stocks, end of month:
Sole and belting
thous. of lbs__ 128, 110
Upper
thous. of sq. ft
317, 542
Exports:
Sole
thous of Ibs
1,615
Upper
thous of sq. ft
6,606
Prices:
Sole, oak, scoured backs,
heavy, Boston
dolls. perlb..
.490
Chrome calf, "B" grades, .dolls, per sq. ft..
.460

Per
cent
increase
(+)
or decrease
(-)
1925
from
1924

CUMULATIVE TOTAL
FROM JAN.
1
THROUGH JULY 31

June

July

131, 286
319, 124

August

0.460
.460

1924

1925

12, 665
49, 850

10, 911
51, 713

-13.8
+3.7

+8.1
+8.9

2,605
4,458

2,639
4,521

+1.3
+1.4

+4.8
-12.7

+14.9
+6.8

179, 290
3,705

185, 032
4,116

+3.2
+11.1

+2.4

3, 545, 378

3, 722, 989

+5.0

-12.2 -46.0
+4.1 +20.7

Leather Products
Belting sales:
Quantity
thous. of lbs._
346
368
346
Value
..
~ - thous. of dolls. .
602
643
588
Boots and shoes:
Production
thous. of pairs
25, 107
24, 582
23, 449
Exports
thous. of pairs
696
559
488
Wholesale pricesMen's black calf,
blucher, Mass
dolls, per pair
6.40
6.40
6.40
Men's dress welt, tan
calf, St. Louis
dolls, per pair
5.15
5.15
5.15
Women's black kid, Goodyear
welt, St. Louis
dolls, per pair .
4.00
4.00
4.00
Gloves:
Glove leatherProduction
__ number of skins.. 535, 431 494, 052 442, 059
Stocks (tanned)—
In process
number of skins.. 1, 286, 092 1, 269, 346 1, 205, 971
Finished
number of skins
421, 251
419, 211
420, 949
Gloves cutTotal
dozen pairs
215, 061
214, 968
200, 901
Dress and streetImported leather
dozen pairs
50, 270
46, 703
42, 164
Domestic leather ...
dozen pairs . 31, 388
35,909
33, 722
Work gloves
dozen pairs.. 133, 403 132, 356 125, 015

6.40

6.25

6.25

6.25

0.0

5.15

4.85

4.85

4.85

0.0

+6.2

4.00

3.85

3.85

3.85

0.0

+3.9

391, 880

318, 586

359, 165

-10.5 +38.8

-5.0
+0.4

1, 480, 288 1, 448, 544 1, 448, 968
534, 581
546, 653
607, 912

-16.7
-23.0

186, 697

165, 791

186, 235

-6.5 +21.2

1, 365, 780

1, 444, 250

+5.7

36, 963
28, 013
121, 721

31, 039
25, 467
109,285

32, 707
29, 479
124, 049

-9.7 +35.8
-6.1 +32.4
-5.5 +14.4

222, 642
221, 402
921, 736

299, 064
237, 119
908, 067

+34.3
+7.1
-1.5

1, 073, 075
1, 006, 774

-4.8
+0.1

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

179, 591 i 149, 942
148, 240 i 145, 129
i 288, 978 i 294, 358
32, 620
30, 199

116,605
134, 286
272, 523
23, 369

152, 606
144, 469
249, 463
13, 180

98, 009
125, 329
226, 798
18, 042

116, 540
128, 183
218, 334
21,204

-22.2 +19.0
-7.5 +7.1
-7.4 +20.2
-22.6 +29.5

1, 126, 756
1, 006, 059

120, 793

176, 867

+46.4

194, 260 i 193, 552
195, 522 i 192, 808
37, 980 i 35, 890
101, 285 i 111, 539
2.60
2.66

183, 614
183, 048
36, 804
107, 752
2.67

190, 918
194, 628
59, 368
87, 549
2.60

172, 230
178, 186
54,546
114, 531
2.51

179, 046
180, 640
52, 840
120, 816
2.53

-5.1 +6.6
-5.1 +2.7
+2.5 -32.5
-4.4 -5.9
+0.4 +6.4

1, 400, 258
1, 420, 812

1, 422, 098
1, 429, 718

+1.6
+0.6

646, 989

776, 124
"

+20.0

121, 217
122, 618
139, 426
116, 547
1,890

114, 859
118, 933
120, 582
112, 173
997

116, 288
117, 059
120, 408
110, 228
1,475

-5.7
-5.8

+5.4
+0.2

881, 577
869, 150

+1.5
+0.8

-7.4
-69.0

+4.7
-2.9

868, 360
862, 170
953, 271
786, 761
10, 280

842, 962
12, 638

+7.1
+22.9

33, 487
161, 931
32. 435
3.88

28, 427
178, 324
32, 984
3.78

28, 631
188, 885
36, 143
3.78

+7.0

+19.9

2.68

Newsprint Paper
Production ..
Shipments..
..
Consumption
Imports
- .,
Exports
Stocks, end of month:
At mills
_ .
At publishers
In transit to publishers
Price roll f o b mill

short tons _
short tons..
short tons
. short tons _
short tons

129,026
126, 487
155, 940
123, 457
2,161

128, 430
126, 456

121, 113
119, 149

126, 907
3,126

117, 479
968

short tons
short tons
short tons
dolls per cwt

32, 037
139, 471
35, 592
3.70

31, 864

34, 079

3.70

3.70

3.70

I

Printing

I

Book publication:
American manufacture
no. of titles. .
Imported
no. of titles
Sales books, shipments
thous. of books. _
Printing activity
weighted index number..

763
172
11, 284
101

527
112
13, 054
96

546
79
9,533
90

499
117
11, 725
92

477
94
9,877
91

+3.6 +14.5
-29.5 -16.0
-27.0 -3.5
-6.3 -3.2

610
165
11, 036
93

3,843
974
76, 916

4,473
940
80, 871

+18.4
-3.5
+3.8

1, 234, 694
1, 240, 411

1, 292, 646
1, 289, 061

+4.7
+3.9

1, 118, 624
1, 229, 018

1, 237, 501
1, 275, 740

+10.6
+3.8

Boxboard
Operation
inch hours 7, 111, 776
89.1
Operation
per ct of capacity
Production
tons i 163, 956
i 175, 246
Orders received
tons
Unfilled orders (end of month)
tons.. i 83, 415
Consumption of waste paper __ __ . _ tons- 159, 095
Shipments
_ - _ - _ __
tons._ i 168, 353
i 53, 327
Stocks (end of month)
tons
Stocks of waste paper (end of month) :
174, 726
On hand
tons
12, 686
In transit
tons
TJnshirmfid nnrnhnsps

i Revised.




_ __

tons..

26.129

7, 983, 150 8, 272, 036
94.6
95.5
190, 310
196, 522
218, 040
i 193, 564
i 92, 022
111,910
184, 295
i 179, 953
1184,928
190, 667
64, 600
* 59, 452

166, 467
13, 872
25. 246

160, 099
11,953
34. 358

+3.6
-0.9
+3.3
+12.6
+21.6
+2.4
+14.5
+8.7

6, 693, 458 7, 174, 718 7, 973, 129
100.2
84.1
86.0
164, 762
183, 570
151, 414
202, 919
186, 259
167, 658
122, 927
105, 009
85, 414
181, 752
158, 734
148, 440
184, 941
166, 664
150, 920
48, 935
52, 268
50,366

159, 767
13, 674
34. 022

165, 802
16, 939
34. 870

161, 793
17, 002
34. 919

1

+15.3
+10.0
+19.3
+17.1
+6.6
+16.1
+14.4
+28.3

-3.8 -3.4
-29.4
-13.8
+36. 1 -1.5

32
TREND OF BUSINESS MOVEMENTS—Continued
Wherelavailable, August data have been
included in this table. The cumulatives shown are in most instances,
however, only through July, and where
designated by a footnote through June.
Detailed data for items shown here
may be found on pages 29 to 151 of the
August, 1925, "Survey."

1925

PER CENT INCREASE (+) OR
DECREASE (— )

1924

CUMULATIVE
TOTAL
FROM JAN. 1
THROUGH JULY 31

Per
cent
increase
( }

July,
May

or t
decrease

August

from .
June,
1925

July,
1925,
from
July,
1924

94, 616
50, 143

98, 401
49, 642

-2.0
+5.0

+7.6
+22.9

710, 156

750, 682

+5.7

71, 665
111, 586

69,728
110, 840

83,289
115, 293

-1.5
-5.4

+22.9
-6.3

580, 709

623, 344

+7.3

35, 143
50,001

29,064
51, 669

27, 314
50, 505

27, 516
49,295

-4.3 +28.7
-1.0
-3.5

219, 610

260,234

+18.5

91, 571
64, 694

83, 605
66, 828

82, 223
64, 546

90, 135
59, 702

-1.9
-4.3

621, 842

697, 137

+12.1

556, 067
368,011

552, 595
354, 827

599, 388
351, 074

4, 231, 301

3,872,848

-8.5

2, 104, 971
1, 559, 322
545, 649

2, 295, 977
1, 768, 027
527, 950

+9.1
+13.4
-3.2

560, 113
70, 696

620,132
83, 763

+10.7
+18.5

7,119
27, 749

8,026
28,343

+12.7
+2.1

1925,

June

July

i 103, 895
i 58, 667

June

July

101, 817
61,600

99, 596
52,232

i 87, 060
i 109, 784

85, 716
103, 867

36, 715
51, 803
* 93, 318
1 67, 632

August

1924

1925

1925
from
1924

PAPER AND PRINTING— Continued
Other Paper
Book paper:
Production
short tons. . i 107, 108
Stocks, end of month
short tons. . i 55, 346
Wrapping paper:
Production
short tons.. 86, 168
Stocks, end of month
short tons.. 108, 218
Fine paper:
Production
short tons.. 36, 658
Stocks, end of month
short tons... 49, 131
All other grades:
Production
short tons.. 101, 348
Stocks, end of month
short tons.. 66, 060
Total paper (inc. newsprint and boxboard) :
Production
...short tons. _ i 624, 264
Stocks, end of month
short tons.. i 364, 046
Paperboard Shipping Boxes
Production:
Total
thous. of sq. ft_. 325, 426
Corrugated
_
thous. of sq. ft_. 250, 446
Solid
fiber
..thous. of sq. ft_. 74, 980
Operating activity:
74
Total
per cent of normal..
75
Corrugated
per cent of normal..
60
Solid
fiber
per cent of normal..
Other Paper Products

i 639, 728
i 379, 697

321, 836
242, 992
78, 844

340,608
257, 899
82, 709

255, 561
193, 800
61, 761

269, 108
205, 723
63, 385

287,937
219, 141
68, 796

74
73
76

76
75
77

67
66
70

64
64
63

68
65
74

+11.4
+0.2

+5.8 +26.6
+6.1 +25.4
+4.9 +30. 6
+2.7
+2.7
+1.3

+18.8
+17.2
+22.2

-4.9

-6.2

Rope paper sacks, shipments, .index number. _
Abrasive paper and cloth:
Domestic sales
_ _ _ _ _ .reams _
Foreign sales
-reams. _
BUTTONS

124

143

136

122

145

165

82, 780
13, 922

85, 503
14, 182

77, 768
11,800

60,969
12, 815

63, 553
7,777

70, 491
10, 916

-9.0 +22.4
-16. 8 •+51. 7

Fresh-water-pearl buttons:
Production
per ct. of capacity..
Stocks, end of month
thous. of gross..
GLASS AND OPTICAL GOODS

46.0
12, 485

47.4
12, 510

38.4
12, 332

30.4
14, 193

16.7
14,083

22.0
13, 914

-19.0 +129.9
-1.4 -12.4

45.5
40.2
43.6

49.2
48.4
46.8

35.6
30.4
34.3

40.1
35.4
36.0

33.6
25.1
29.0

38.1
28.4
37.8

-27.6
-37.2
-26.7

+6.0
+21.1
+18. 3

93
34

102
30

81
29

82
23

45
25

70
30

-20.6
-3.3

+80.0
+16.0

1,216
4,306

1,109
3,759

1,135
4,598
140, 152

1,294
3,315
137, 965

1,160
7,611
131,839

-8.8
-12.7

-14.3
+13.4

197
198

195
195

195
194

203
205

199
201

195
199

-1.0
-1.5

-2.0
-3.0

205

205

212

217

214

213

0.0

-4.2

194

194

194

199

198

196

0.0

-2.0

13, 713
3,973
42, 988
9,002

13, 153
5,643
48, 081
7,645

9,308
3,294
34, 101
5,262

8, 993
3,017
25, 474
6,150

8,361
3,967
27,998
4,401

-4.1
+42.0
+11.8
-15.1

+46.3
+87.0
+88.7
+24.3

67, 801
28, 565
265, 997
38, 778

83,468
33, 869
290, 798
38, 210

+23.1
+18.6
+9.3
-1.5

6,597
76, 756

7,251
82, 910

4,734
57, 754

6,059
50, 522

4,968
50, 767

+9.9
+8.0

+19.7
+64.1

34, 348
440, 058

38, 919
490, 093

92, 152
25, 161
208, 583
64, 585

67, 166
u8, 148
224, 713
57, 572

56, 556
24, 968
161, 443
34, 807

49, 346
19, 664
128, 072
39, 511

41, 151 -27.1 +36.1
30, 380 +131. 1 +195. 7
148, 232
+7.7 +75.5
31, 771 -10.9 +45.7

361, 955
195, 486
1, 233, 799
232, 158

464, 635
250, 793
1, 405, 019
262, 435

57, 214
92, 916
540, 610

48, 658
72, 743
529, 000

37, 963
71, 784
387, 521

38, 875'
71, 717
347, 184

37, 613
65,296
354, 443

+25.2
+1.4
+52.4

233, 619
412, 282
2, 669, 296

311, 265
495, 108
3, 189, 254

+13.3
+11.4
+28.4
+28.3
+13.9
+13.0
+33.2
+20.1
+19.5

23,651
360

29, 622
1,485

20, 350
469

23,969
387

31, 349 +25.2 +23.6
303 -4-312. 5 -J-283.7

205, 065
S.4CW

227, 170
4_4fin

+10.8
—17 R

Illuminating glassware:
Net orders
per ct. of capacity..
Actual production
per ct. of capacity..
Shipments billed
.per ct. of capacity..
Spectacle frames and mountings:
Sales billed (value)
index number..
Unfilled orders (value)
index number..
BUILDING CONSTRUCTION AND
HOUSING

Rental advertisements:
1,353
Portland Oreg
number..
5, 450
Minneapolis, Minn
.number..
Real estate conveyances (41 cities) number.. 166, 726
Building Costs (Index Numbers)
Building materials:
198
Frame house, 6-room, 1st of following mo__.
Brick house, 6-room, 1st of following mo
197
Building costs (Engineering News Record), 1st
207
of following month .
Concrete factory costs (Aberthaw), 1st of fol194
lowing month _
Construction and Losses
Contracts awarded (36 States):
Commercial buildings
thous. of sq. ft_ . 14, 183
5,278
Industrial buildings
thous. of sq. ft._
Residential buildings
thous. of sq. ft__ 48,101
Educational buildings
thous. of sq. ft_.
4,623
Other public and sernipublic
buildings _ _ _
__thous. of sq. it-6,106
Grand total.
thous. of sq. ft.. 78, 910
Contracts awarded, value (36 States):
Commercial buildings
thous. of dolls.. 80,280
Industrial buildings
thous. of dolls. _ 27, 562
Residential buildings
thous. of dolls.. 231, 182
Educational buildings
thous. of dolls.. 29, 313
Other public and semipublic
49,928
buildings
thous. of dolls
Public works and utilities ..thous. of dolls.. 77, 759
Grand total...
thous. of dolls.. 496, 024
Fire losses:
United States and Canada .thous. of dolls.. 29,171
Great Britain
thous. of £ sterling. _
246
i Revised.




-15.0
-21.7
-2.1

33
TREND OF BUSINESS MOVEMENTS—Continued
Where available, August data have been
included in this table. The cumulatives shown are in most instances,
however, only through July, and where
designated by a footnote through June.
Detailed data for items shown here
may be found on pages 29 to 151 of the
August, 1925, "Survey."

May

June

PER CENT INCREASE (+) OR
DECREASE (— )

1924

1925

July

August

July,
1925,
from
June,
1925

July,
1925,
from
July,
1924

439, 967
468, 236
426, 171
468, 575
493, 505
406, 809
482, 274
408, 454
515, 336
1, 153, 575 1, 124, 717 1, 103, 006
89, 707
71, 293
67, 173
39.53
39.51
38.51

August

+2.6
+2.6
+9.3
+0.5
-11.0
+1.2

June

July

CUMULATIVE TOTAL
FROM JAN.
1
THROUGH JULY 31

Per

cent
in-

crease
( }
or t
decrease
(-)
1925
from
1924

1924

1925

+7.2
+1.1
-3.4
+5.8
-26.6
+16. 0

3, 196, 090
3, 162, 157
3, 178, 664

3, 353, 364
3, 263, 811
3, 264, 973

+4.9
+3.2
+2.7

495, 873

537, 103

+8.3

3, 389, 587 3,688,168
3, 566, 409 3, 871, 704
3, 314, 831 3, 840, 367
394, 678
346, 399
184, 142
327, 945

+8.8
+8.6
+15.9
-12.2
-43.8

BUILDING CONSTRUCTION AND
HOUSING-Continued
Lumber
Southern pine:
483, 872
Production (computed)
M ft. b. m
Shipments (computed)
M ft. b. m._ 481, 403
477, 918
Orders (computed)
M ft. b. m
Stocks, end of mo. (computed) _M ft. b. m_. 1, 152, 617
88, 205
Exports (incl timber)
M ft. b. m
Price, "B" and better... dolls, per M ft. b. m__
45.06
Douglas fir:
Production
M ft b m
536, 729
573, 884
Shipments (computed)
M ft. b. m
New orders
_
_M ft. b. m
553, 292
41, 987
Exports, lumber
M ft. b. m
Exports, timber
M ft. b. m
16, 880
Price, No. 1 common dolls, per M ft. b. m
17.50
California redwood:
41, 933
Production (computed)
M ft. b. m__
39, 992
Shipment (computed)
M f t b. m
34, 176
Orders received (computed) ...M ft. b. m._
California white pine:
Production
M ft. b. m
133, 818
Shipments
. _ _ _ _ _ M f t . b . m _ . 107, 745
493, 023
Stocks, end of month
M ft. b. m
Western pine:
Production (computed)
-M ft. b. m._ 177, 055
145, 562
Shipments (computed)
M ft. b. m
Stocks, end of mo. (computed).M ft. b. m._ 927. 799
North Carolina pine:
Production (computed)
M ft. b. m.. 55, 853
52, 227
Shipments (computed)
M ft. b. m
Northern pine:
Lumberi 61, 906
Production
M ft. b. m
i 44, 368
Shipments
M ft. b. m
Orders received
M ft. b. m
i 38, 636
LathProduction
M ft. b. m
i 16, 237
Shipments
M f t b. m
12, 403
Northern hemlock:
12, 338
Production
M f t b. m
Shipments
M ft. b. m
21, 323
Northern hardwood:
41, 433
Production
M ft. b. m
20, 884
Shipments
M ft. b. m
Walnut lumber:
Production
. .
M ft. b. m . 4,132
3,029
Shipments
M ft. b. m
19, 332
Stocks, end of month
_M ft. b. m
Walnut logs:
3,552
Purchased
M ft. log measure
Made into lumber and
veneer
M ft. log measure
3,496
4,734
Stocks, end of month... M ft. log measure..
Hardwoods:
Total stocksTotal hardwoods
. . M ft. b. m 775, 695
Gum
M ft. b. m__ 241, 714
Oak
M ft. b. m
251, 129
Unsold stocksTotal hardwoods .
M ft. b. m
638, 391
Gum
M ft. b. m
194, 168
Oak
M ft. b. m_. 206, 650
Unfilled orders —
Total hardwoods. ._
M ft. b. m_. 157, 775
Gum
. .
M ft. b. m 56, 749
Oak
M ft. b. m
49, 957
All lumber:
Production, 10 species
- M ft. b. m 2, 682, 113
Exports, planks, joists, etc
M ft. b. m
160, 258
Retail yards, M i n n e a p o l i s
Fed. res. dist.—
21, 084
Sales
M ft b. m
Stocks, end of month
M ft. b. m
115, 605
Composition lumber prices:
Hardwoods
dolls, per M ft. b. m
41.43
30.84
Softwoods
dolls, per M ft. b. m
Flooring
Oak flooring:
Production
M ft. b m
Shipments
M ft. b. m_.
Stocks, end of month
M ft. b. m
Orders booked
M ft b m
Unfilled orders, end of month. _M ft. b. m_.
Maple flooring:
Production .
_.M ft. b. m_.
Shipments
M ft. b. m
Orders booked
M ft. b. m
Stocks end of month
M ft b m
Unfilled orders, end of month.. M ft. b. m._
i Revised.




41,329
42,104
51, 254

43,372
50, 862

7,687
7,399
7,413
29, 165

8.752

459, 378
471, 480
461, 944
473, 900
455, 554
498, 055
1, 184, 431 1, 189, 859
74, 037
65, 871
44.14
44.66

472, 716
502, 708
473, 163
36, 213
34, 686
16.50

371, 547
448, 543
457, 496
43, 519
34, 237
16.50

490, 622
494, 651
554, 635
42, 526
36, 202
16.00

-15.4
-10.0
-1.9
-34.8
-39.5
0.0

+30.0
+25.2
+27.4
-4.1
-41.0
0.0

37, 416
32, 025
29, 414

46, 289
29, 525
28, 484

34, 303
25, 099
24, 622

56, 199
43, 116

-24.5
-23.3
-31.6

+9.1
+27.6
+19.5

339, 986
260, 219
253, 788

305, 093
265, 776
260, 195

-10.3
+2.1
+2.5

165, 516
107, 911
545, 982

166, 656
115, 795
584, 721

133, 740
64, 042
538, 991

136, 499
79, 035
608, 260

147, 177

+22.1
+46.5
-3.9

618, 585
449, 672

697, 018
665, 381

+12.7
+48.0

643, 786

+0.7
+7.3
+7.1

i 180, 919
i 149, 624
i 964, 260

178, 428
151, 889
989, 158

146, 110
159, 877
161, 669
125, 561
124, 385
147, 774
1, 057, 528 1, 068, 266 1, 077, 246

-1.4
+1.5
+2.6

+22.1
+21.0
-7.4

985, 963
915, 307

1, 021, 115
966, 422

+3.6
+5.6

57, 799
51, 702

39, 305
43, 729

43, 080
42, 399

38, 843
45, 332

53, 417
51, 555

-32.0
-15.4

+1.2
-3.5

332, 285
341, 488

360, 248
359, 170

+8.4
+5.2

i 66, 200
i 46, 265
i 38, 622

64, 315
49, 534
48, 928

40.036

58, 662
33, 783

52, 267
45, 758
41, 053

54, 068
46, 403
52, 188

-2.8
+7.1
+26. 7

+23.1
+8.3
+19.2

333, 544
307, 086
306, 008

360, 584
303, 408
274, 705

+8.1
-1.2
-10.2

i 17, 978
11, 989

18, 397
14, 576

14, 625
16, 050

13, 328
14, 849

14, 675
16, 515

+2.3
+21.6

+38.0
-1.8

81, 407
91, 670

95, 163
74, 583

+16.9
-18.6

18, 313

18,417

24, 298
20, 154

27, 377

25, 177
17, 505

22, 982
17, 884

+32.7
+9.4

-3.5
+15.1

148, 443
137, 329

114, 538
120, 865

-22.8
-12.0

41, 299
26, 282

26, 223
28, 909

35, 185
25, 328

27, 392

23, 952
26, 625

-36.5
+10.0

-4.3
+28.6

299, 476
198, 973

293, 178
167, 762

-2.1
-15.7

3,660
2,742

+7.9
-5.7
+6.3

+3.7
+22.0
+60.9

22, 803
20, 671

28, 653
24, 090

+25.7
+16.5

571, 198
612, 829
594, 028
63, 976
33, 408
16.50

483, 012
561, 798
582, 837
41, 715
20, 216
16.50

49, 544
41, 754
42, 978

3,589

17. 50

23,255

3,873
2,940

3,375
2,647

22,475
3,736
2,409

46,645
89,377

3,119
19, 515

20, 736

10, 168

12, 885

13, 813

2,921

2,880

2,443

2,256

2,061

-1.4

+27.7

17, 593

23, 571

+34.0

3,261

4,374

2,656
4,599

2,573
3,694

2,521
2,910

2,544

-18.6
+5.1

+5.4
+58.0

17, 685

22, 680

+27.8

796, 324
241, 912
253, 228

802, 349
242, 377
252, 198

424, 175
134, 261
152, 555

477, 002

151,218
163, 697

+0.8
+0.2
-0.4

+89.2
+80.5
+65.3

658, 998
197, 199
210, 831

653, 174
196, 281
201, 981

325, 652
102, 204
121, 337

355, 698
114, 594
117, 002

-0.9 +100.6
-0.5 +92.0
-4.2 +66.5

156, 356
53, 542
47, 226

169, 152
52, 736
57, 236

118, 285

137, 563
44, 138
51, 143

+8.2
-1.5
+21.2

+43.0
+28.5
+67.6

2, 410, 954 2, 237, 900 2, 531, 675
138, 792
156, 814
151, 425

-13.5

+1.0

17, 087, 123
1, 133, 421

1, 149, 507

+1.4

17, 364
114, 621

-0.5
0.0

+47.8
-1.1

41,044

34, 144

2, 643, 429 2, 563, 237
, 183, 170 158, 369

2,419

116, 237 . +50.7

24, 961
113, 577

24, 846
113, 633

40.94
29.93

40.18

29.88

40.14
30.11

42.53
29.97

42.12
29.31

41.77

29.82

-1.9
-0.2

-4.6
+1.9

41, 692
43, 699
53, 494

44, 026
48, 029
45, 155
49, 904
53, 740

46, 282
48, 948
41, 082
54, 372
59, 844

32, 935
33, 713
50, 189
30, 824
36, 093

34, 057
36, 814
48, 842
43, 080
41, 852

35, 180
39, 574
45, 136
48, 847
50, 262

+ 5.6
+9.9
-15.6
+8.5
+7.3

+29.3
+30.5
-7.5
+15. 8
+28.4

230, 516
233, 222

292, 144
288, 544

+26.7
+23.7

227, 474

285,894

+25.7

7,492
7,425
6,436

7,604
7,546

7,471

+4.8
+21.7
+31.7
7 4
+15.9

+4.7
+34.7
+66.0
+3.3
+21.3

63, 392
55, 661
54, 127

58, 518
56, 121
56, 012

-7.7
+0.9
+3.5

46,003
50, 092

7,600
8,353

9, 244
28, 504

9.498

7,962
10, 167
12, 172
26, 399
11. 012

15, 803 i 16, 815
116, 751 i 114, 887

25, 406

9,596

7,331
25, 557

9,074

8,369
9,453

23, 949
10. 090

77, 126

34

TREND OF BUSINESS MOVEMENTS—Continued
Where available, August data have been
included in this table. The cumulatives shown are in most instances,
however, only through July, and where
designated by a footnote through June.
Detailed data for items shown here
may be found on pages 29 to 151 of the
August, 1925, "Survey."

1995

DECREASE (— )

May

BUILDING CONSTRUCTION AND
HOUSING— Continued
Brick
Face brick (32 identical plants) :
Production
thousands -27, 890
Stocks and yards
thousands-55, 498
Unfilled orders, end of month, .thousands. _
40,692
Shipments
thousands- . 27, 605
Paving brick:
ProductionActual
thousands _ _
32, 177
Relation to capacity
per cent..
86
Shipments
.
- - thousands .. 25, 690
Stocks, end of month
thousands. . 131, 689
Orders received
thousands _ _
41, 391
Cancellations
thousands. 1,969
Unfilled orders, end of month. _ -thousands . . 82, 101
Common brick:
Stocks, end of monthsBurned
thousands .- 239, 389
Unburned
._
_
thousands..
67, 480
Shipments
.
thousands.- 180, 851
Unfilled orders
thousands
333, 967
Prices, common brick:
Wholesale red, New York-dolls per thous ..
15.00
Floor and Wall Tile
Production..
_.._thous. of sq. ft_.
Shipments, quantity
thous. of sq. ft_.
Shipments, value.
thous. of dolls..
Stocks, end of month
thous. of sq. ft._

PER CENT INCREASE (+) OR

1924

June

July

25,091
50, 796
39, 115
28,784

August

July,
1925,
from
June,
1925

July,
1925,
from
July,
1924

25, 605
51, 503
31, 334
20, 527

27, 616
55, 081
37,588
26, 150

+1.4
-8.4
-14.9
9.9

24,998
68
27, 786
111, 637
23, 240
1,304
99, 314

31, 452
81
31, 300
110, 286
28, 747
2,855
92, 237

26, 569
74
32, 400
97, 407
21, 454
594
76,867

258, 474
72, 725
158, 753
366, 098

231, 182
86, 722
149, 622
314, 588

June

July

25, 452
46, 545
33, 302
25,929

25, 947
50, 895
43, 653
25, 213

30, 731
82
31, 973
126, 038
31, 125
1,014
82, 239

30, 635
79
34, 317
117, 543
29, 270
1,855
75, 389

225, 401
82, 987
173, 215
326, 226

227, 306
92, 267
180, 407
292, 775

15.50

15.50

August

CUMULATIVE TOTAL
FROM JAN. 1
THROUGH JULY 31

Per
cent
increase
( }
or t
decrease
(-)
1925
from
1924

1924

1925

-0.6
-9.6
+6.3
+26.3

163, 595

152, 680

-6.7

154, 943

156, 814

+1.2

-0.3
-3.7
+7.3
-6.7
-6.0
+82.9
-8.3

-2.6
—2.5
+9.6
+6.6
+1.8
-35.0
-18.3

166, 640

195, 498

+17.3

126, 342

132, 800

+5.1

170, 690
6,620

159, 578
7,238

-6.5
+9.4

261, 800
68, 138
120, 777
256, 017

+0.8
+11.2
+4.2
-10.3

—1.7
+6.4
+20.6
+6.9

0.0

-3.1
2 26, 569
222,453
2 7, 307

2 23, 782
2 23, 314
2 8, 264

-10.5
+3.8
+13.1

20.00

16. 0

13.50

3,893
3,777
1,324
7,834

4,200
3,635
1,249
7,616

3,862
3,913
1,322
7,398

10, 807
1,128

15.37

13, 745
1,476

8,685
966

-29.5
-24.2

-27.0
-12.4

89, 223
9,751

88,464
10, 379

-0.9
+6.4

80, 816
79, 110

88,483
88,217

+9.5
+11.5

58,253
38, 516

69, 977
45, 563

+20.1
+18.3

4,162
4,315
1,544
8,304

4,424
4,533
1,613
7,223

9,912
1,220

14, 242
1,706

10, 036
1,293

15, 503
16, 735
18, 440

15, 387
17, 501
i 16, 409

15,641
18, 131
13, 895

16, 419
18, 383
11, 931

13, 538
15, 036
14,903

14, 029
16, 614
12, 319

15, 128
16, 855
10, 666

+1.7
+3.6
-15.2

+11.5
+9.1
+13.0

1.75
1.75

1.75
1.75

1.75
1.75

1.75
1.75

1.75
1.75

1.75
1.75

1.75
1.75

0.0
0.0

0.0
0.0

12, 286
7,724

10, 222
5,981

12,044
6,362

9,594
6,368

8,948
4,939

10, 025
6,214

10, 286
6,010

+17.8
+6.4

+20.1
+2.4

Architectural Terra Cotta
Bookings:
Quantity
Value

net tons
thous. of dolls ..

Portland Cement
Production
. . .thous. of bbls..
Shipments...
thous. of bbls..
Stocks, end of month
thous of bbls
Prices:
Chicago district
dolls per bbl
Lehigh Valley
dolls, per bbl.
Concrete paving contracts awarded:
Total
thous. of sq. yds..
Roads
thous. of sq. yds_.
Roofing
Prepared roofing:
Shipments
thous. of roof squares..
Roofing felt:
Production, dry felt
tons..
Stocks, end of month, dry felt
tons .

2,452

2,962

3,021

2,331

2,596

2,747

+2.0

+16.4

17, 628

18, 121

+2.8

20, 656
3,378

20, 946
3,075

22, 360
3,751

17, 593
2,878

17, 597
2,813

18, 171
2,740

+6.8
+22.0

+27.1
+33.3

116, 506

138, 136

+18.6

number _ number
number

112, 457
119, 104
121, 659

118, 448
101, 925
128, 969

134, 218
95, 562
140, 008

84, 665
65, 093
72, 978

97, 376
67, 848
93, 163

103, 232
63, 213
90, 955

+13.3 +37.8
-6.2 +40.8
+8.6 +50.3

697, 018

766, 112

+9.9

730, 330

830, 015

+13.6

number _.
number
number--

122, 322
232, 811
128, 450

130, 691
227, 018
136, 931

148, 428
225, 966
143, 128

97, 963
140, 810
78, 185

93,068
164, 702
73, 890

104, 308
149, 974
97, 466

+13.6
-0.5
+4.5

+59.5
+37.2
+93.7

840, 941

893, 235

+6.2

768, 890

923, 015

+20.0

number .number
number--

130, 094
286, 317
135, 473

132, 243
279, 287
133, 757

135, 453
273, 720
138, 879

112,062
129, 862
83,507

110,070
155, 483
89, 930

115, 767
164, 632
102, 855

+2.4
-2.0
+3.8

+23.1
+76.0
+54.4

911, 952

909, 032

-0.3

850, 716

920, 562

+8.2

number _.
75, 110
number . . 180, 079
number . 59, 526

64, 232
179, 127
62, 486

60, 837
176, 506
65, 213

69, 186
106, 031
52, 917

67, 622
105, 321
45, 332

70, 832
114, 550
59, 308

+5.3
-1.5
+4.4

-10.0
+67.6
+43.9

532, 549

483, 819

-9.2

482, 284

413, 044

-14.4

number-number.-

111, 797
252, 991

117, 461
251, 545

181, 907
458, 182

169, 394
395, 697

154, 659
339, 022

+5.1
-0.6

+30.7
-36.4

5,405
37, 440

10, 266
50, 400

9,482
61, 798

+88.0 +152. 8
+16.6 +36.5

109, 431
659, 397

146, 521
780, 465

+33.9
+18.4

957
70, 486

641
98, 503

852
87, 707

-46.2
+26.7

6,529
634, 323

5, 245
563, 487

-19.7
-11.2

1, 834, 847 2, 168, 831
9, 289, 074 14, 521, 161

+18.2
+56.3

Sanitary Wares
Baths, enamel:
O rders shipped
Stocks, end of month
Orders received
Lavatories, enamel:
Orders shipped _.
Stocks, end of month
Orders received
Sinks, enamel:
Orders shipped . _ _
Stocks, end of month
Orders received
Miscellaneous, enamel:
Orders shipped . _ . _ ..
Stocks, end of month. .
Orders received
Unfilled orders, end of month:
Baths
_._
Small ware

110, 318
251, 820

«

CHEMICALS AND OILS
Imports:
7,757
Potash,
longtons.13, 803
25, 954
Nitrate of soda
long tons
135, 169
68, 791
59, 016
Exports:
660
Sulphuric acid
thous of Ibs
669
355
123, 813
Total fertilizer long tons
94, 805
120, 171
Dyes and dyestuffs—
322, 420
420, 890
Vegetable
Ibs
291, 014
Coal tar
lbs_. 2, 076, 516 2, 127, 507 2, 080, 588
.70
Price, sulphuric acid 66° N.Y.. index number. .
.70
.70
i Revised.




.70
2

344, 609
230, 995
165, 843
1. 288, 177 1, 818, 873 2, 083, 628
.70
.70
.70

-44.6
+22.0

+44.6 +22.1
-2.2 +1-4. 4
0.0
0.0
Cumulative for six months ending June 30.

35
TREND OF BUSINESS MOVEMENTS—Continued
Where available, August data have been
included in this table. The ciamulatives shown are in most instances,
however, only through July, and where
designated by a footnote through June.
Detailed data for items shown here
may be found on pages 29 to 151 of the
August, 1925, "Survey."

1925

May

June

PER CENT INCREASE (+) OR
DECREASE (— )

1924

July

August

June

July

August

July,
1925,
from
June,
1925

CUMULATIVE
TOTAL
FROM JAN.
1
THROUGH JULY 31

July,
1925,
from
July,
1924

1925

1924

Per
cent
increase
(+)
'or decrease
(-)
1925
from
1924

CHEMICALS AND OILS— Continued
Wood Chemicals
Acetate of lime:
Production
thous. of Ibs
11, 338
11, 852
13, 063
Shipments or use
thous. of lbs_. 12, 646
13, 643
10, 390
Stocks, end of month
. thous. of Ibs
17, 032
19, 013
20, 051
Exports
thous. of Ibs
1.815
1,498
2,457
Price
_
. _dolls. p*r cwt _
2.88
2.75
2.75
Methanol:
Production
gallons
612, 547
573, 357
651, 803
Shipments or use
gallons
538, 235
588, 868
568, 453
Stocks, end of month
gallons-. 1, 791, 464 1, 746, 720 1, 832, 551
Exports
gallons
17, 853
28, 447
39, 342
Price
dolls, per gal__
.58
.58
.58
Wood at chemical plants:
Consumption (carbonized)
cords _ . 65, 284
59, 538
Stocks, end of month
cords.. 561, 038 537, 246
Ethyl alcohol:
Production thous. of galls . 12, 718
13, 457
Withdrawn for denaturation.thous. of galls .
11, 526
9,971
Warehouse stocks, end of
month .
. . thous. of galls
9,038
7,831
Explosives

85, 414
79, 725

+4.2
+24.7

14, 117

11, 501

-18.5

+6.8 +50.0
+9.4 +31.4

4, 359, 922
4, 148, 526

4, 311, 364
4, 031, 198

-1.1
-2.S

+59.3 -43.6
0.0 -10.8

414, 914

279, 691

-32.6-

473, 661
5, 578, 586

5, 578, 585

8, 112
11, 101
19, ^64
728
3.00

+4.5 +53.6
-23.8 +47.3
+11.6 -20.0
+64.0 -23.1
0.0
0.0

81,999

492,902 408, 132 444, 612
525, 756
472, 285
448, 022
2, 368, ^60 1, 873, 932 1, 797, 729
50, 462
77, 547
51, 125
.74
.68
.65
.58

9,396

2.75

9,261
32, 291
3,184
3.00

53, 594
821, 242

7,714

7,056

23, 757
3,196
3.00

46, 536
623, 940

47, 198
663, 715

63, 936

2
8

7,697

9,021

9,254

11, 029
11, 130

6,035

4,614

30, 817

31,097
36,199

15,730

16,399

33,890
34,235
33,609

16, 101

+5.1 +14.5
+0.2 -1.8
-2.8 +10.1
~2.1 -1.3

2
2

+32.4
+11.1

3,481

32,842

x

7,812

60, 665
58, 286

80, 306
64, 759

(Black powder, permissible^, and other high
explosives)
Production
Shipments
Sales
Stocks

_
_

thous. of lbs._
thous. of lbs_.
thous. of Ibs..
thous. of Ibs

32, 718
33, 769
32, 165
18, 272

33, 894
35, 492
34, 860

35, 621
35, 545
33, 869
16, 187

barrels..
barrels

34, 379
26, 761

42, 146
35, 402

42, 703

barrels . 106, 424
bairels.. 161, 970

126, 622
210, 059

134, 609
211, 452

5,657
58,950

2,525
44,941

16,540

31, 586

30, 765

227, 622
236, 541

239,954

223,685

241, 257
231, 830

+6.1
+2.0
+3. ft

Naval Stores
Turpentine (3 principal poits):
Net receipts
Stocks, end of month
Rosin (3 principal ports):
Net receipts
Stocks, end of month

44,957

58,437

122,022
202,247

46, 751

34,200

40,605
43,567

+1.3
-8.7
+27.0 +31.5

157, 593

156, 388

-0.8-

32, 499

110, 088
241, 108

129,907

124,876
274,605

+6.3 +3.6
+0.7 -21.8

552, 273

575, 473

+4.2

270, 218

1,941
58, 317

36, 946

2,085

34, 856

-55.4
+6.8
-23.8 +28.9

33, 879
403, 351

+41. &
-29.0

122, 987
119, 344

-11.6
-13.2

642, 812

+63. &

5,919

2,463

+108. 9+28. &

39,620

Fats and Oils
Total vegetable oils:
Exports
Imports
Oleomargarine:
Production
. .
Consumption
Cot ton seed

thous. of Ibs .
thous. of Ibs
thous. of Ibs
thous. of lbs_-

Cottonseed stocks, end of month
tons
Cottonseed oil:
Stocks, end of month
thous. of Ibs
Production
thous, of Ibs
Price New York
dolls per Ib

3,269

49, 629

2,365

47, 838

23, 875
567, 745
3
2

3
2

17, 599
18, 542

15, 312

14,011

14,941
14,704

15, 321

14,011

15, 519
15, 095

15,900

53, 259

28, 502

33, 577

29, 053

21, 711

92, 649

+17.8 +54. 7

44,247

22,669

8,347

.113

23, 751
18, 592
.104

4,053

18, 493
.107

5,103
12, 815
.114

7,158
.121

17, 922
.139

-77.5 +25.9
-30.7 +79.0
+6.5 -5.8

725
333
502

819
200
617

758
364
581

1,220
546
291

389
209
131

386
166
93

297
146
72

-7.4 +96.4
+82.0 +119. 3
-5.8 +524. 7

13, 331

12, 681

9,380

10,881

6,486

6,286

4,188

+49.2

65,092

93, 433

+43.6

12,332

15, 637

14,624

24,490

10, 241

10, 466

9,388

-6.5 +39.7

92, 963

140, 279

+50.9-

26,007
65, 292

51, 195
89, 854

+96. &
+37. &

130, 650
82, 575

153, 617
130, 094

+17.6
+57. &

267, 756
57, 598
4, 801, 924

255, 147
55, 701
4, 402, 557

-4.7
-3.3

50, 232
.107

15, 857

-2.4
+4.9

-3.8
-2.6

139, 114
137, 484

392, 951

Flaxseed
Minneapolis and Duluth:
Receipts
thous. of bush
Shipments
_
..thous. of bush
Stocks
thous of bush
Linseed oil: Shipments from Minneapolis
_
thous. of Ibs
Linseed-oil cake: Shipments from Minneapolis
thous of Ibs
FOODSTUFFS
Wheat
Exports, United States:
Wheat onlv...
.. .. thous. of bush
Including wheat flour thous. of bush
Visible supply:
United States
thous of bush

7,069
10, 758
30, 420
40, 087
21, 866
17, 719

33, 248
22, 513
41, 783
22, 693

1,676
1,892

1,618
1,815

1, 591
1,589

Wheat, ground
thous. of bush
31, 874 i 35, 526
Production, wheat flour . .
thous. of bbls
i 7, 745
6,942
Production, grain offal
_
thous. of Ibs
553, 750 i 621, 141
47
Per cent of capacity operated
iper cent
43
2
Cumulative for six months ending June 30.

40, 403
8, 785
703, 762
53

7,817

16, 835
21, 106

-25.2 +30.6
+18.8 +44.3

41, 451
26, 802

36, 496
44, 932
16, 410
13, 714

43, 779
31, 306
35, 074
16, 302

76, 537
19, 789
92, 987

+9.3
-43.8
+91.1
+28.1

1,639
1,680

1,120
1,122

1,397
1,253

1,356
1,315

36, 293

39, 272
8, 465
696, 582
50

45, 434

12, 777

36, 911
48, 744
17, 659
21, 067

4,975

4,049

10, 257

5,288

12, 976

Receipts, principal markets
thous. of bush_.
Shipments, prin. markets
thous. of bush__
Prices:
No 1 northern Chicago dolls per bush
No. 2, red winter, Chicago. dolls, per bush_.

9,870

-26.0

38, 167

7,586

52,826

-24.1
-28.1
+19.1
+39.2

2,833

1,911

1 7* +13.9
-12.5 +26.8

Wheal Flour
(Bureau of the Census)




7,797

651, 532
48

9,842

799, 698
58

+13. 6
+13.4
+13.3

-11.1
+3.8
+1.0

-8.s

TREND OF BUSINESS MOVEMENTS Continued
Where available, August data have been
included in this table. The cumulatives shown are in most instances,
however, only through July, and where
designated by a footnote through June.
Detailed data for items shown here
may be found on pages 29 to 151 of the
August, 1925, "Survey."

1925

May

June

"

1
July

August

PER .CENT INCREASE (+) OR
DECREASE (— )

1924

June

July

August

July,
1925,
from
June,
1925

CUMULATIVE TOTAL
FROM JAN. 1
THROUGH JULY 31

Per
cent
increase
or decrease

July,
1925,
from
July,
1924

1924

1925

1925
from
1924

FOODSTUFFS-Continued
Wheat Flour— Continued
(Russell's Commercial News)
Production.
thous. ofbbls
Consumption
thous of bbls
Stocks, all positions
thous. of bbls
Exports:
United States
thous of bbls
Canada
thous of bbls
Wholesale prices (Dept. Labor):
Flour standard patents,
Minneapolis
dolls, per bbl
Flour, winter straights,
Kansas City
_._
dolls, per bbl_.

8,151
7,969
5,700

8,917
7,877
5,900

9,332
7,759
6,800

10, 395
8,717
7,400

11, 812
10, 598
7,500

690
482

820

1,174
903

789
613

949
626

8,869

8,530

8,650

8,831

6,856

7,490

7,538

+1.4

+15.5

7,215

7,506

6,950

7,570

5,581

5,831

6, 225

-7.4

+19.2

4,562
594

5,611
667

5,960
667

6,333
857

6,061
1,085

6,409
957

+6.2
0.0

1,015
6,898
2,148
4,750

1,237
8,453
1,750
6,703

1,340
8,581
525
8,056

1,413
13, 452
3,407
10, 045

1,354
16, 652
3,550
13, 102

1,426
14, 798
1,217
13, 581

843
18, 676
11, 566
10, 058
4,983

964
16,040
17, 860
13, 676
5,498

884
6,832
9,891
10, 697
4,430

5,567

1,017
9,184
17, 415
14, 505
5,621

654
5,475
18, 225
11, 205
5,835

1,137

1,099

1,065

1,052

11, 845
35, 331
3,908

17,363
35, 268
2,398

16, 591
26, 298
4,272

50,706

484

505

475

415

208
1,608

214
667

.883

2 60, 482
53, 018

2 56, 152
2 51, 460

-7.2
-2.9

-1.7
-38.5

51, 124
7,216

43, 999
4,827

-13.9
-33.1

+8.2
+1.5
-70.0
+20.2

-0.1
-48.5
-85.2
-38.5

11,477
107, 771

9,761
57, 351

-15.0
-46.8

782
5,612
19, 340
10, 749
6,433

-8.3
-57.4
-44.6
-21.8
-19.4

+35.2
+24.8
-45.7
-4.5
-24.1

16, 350
106, 167
173, 693
117, 390
44, 666

5,489
166, 338
132, 769
88, 926
38, 772

-66.4
+56.7
-23.6
-24.2
-13.2

1,055

1, 170

-3.1

-0.9

14,003
5,264
177

10, 510
3,086
233

27, 561
11, 403
217

103, 776
77, 541
2,179

107, 913
+4.0
354, 821 +357. 6
14, 278 -555. 3

501

563

528

222
1,940

184
513

194
1,054

. .885

.883

.809

.776

.829

4,554
5,795
1.190

889
1,627
1.089

403
3,974
.979

1.069

1,674
3,732
.729

4,954
1,332
.861

25, 130
183, 091

16, 416
145, 061

15, 696
151, 625

11, 090
174. 033

24,998
304, 362

11, 100
6,000
4,600

9,600
10,800
5,000

6,660
13,200
4,400

7,030
10,800
2,400

6.660
13,200
3,000

7,400
16,000
3,000

-19.8
+18.5
+4.0

+15.6
-3.0
+73.3

345, 365

-71.7

101, 054

2

Canadian Milling

Grindings:
Wheat
thous. of bbls
Oats
thous of bush
Production:
Wheat
flour
thous. ofbbls..
Total oatmeal and rolled oats thous. of Ibs _
Oatmeal
thous. of Ibs
Rolled oats
thous of Ibs
Corn
Exports, including meal . thous. of bush .
Visible supply
thous of bush
Receipts, principal markets
thous. of bush..
Shipments, prin. markets
thous of bush
Grindings (starch, glucose)
thous. of bush..
Prices, contract grades, No. 2,
Chicago
dolls per bush

839

Other,, Grains

Oats:
Receipts, principal
markets
,
thous. of bush._
Visible supply. .
thous. of bush
Exports, including meal
thous. of bush..
Prices, contract grades,
Chicago
dolls per bush
Barley:
Receipts, principal
markets
thous of bush
Exports
thous. of bush. _
Price, fair to good, malting
Chicago
dolls per bush
Rye:
Receipts, principal
markets
thous. of bush
Exports, including flour thous. of bush..
Price, No. 2, Chicago
dolls, per bush..

-4.4 +57.9
-25.4 +752. 2
+78.1
-5.9

-15.6

+3.7
201
1,396 +190. 9

+14.4
+84.1

.853

0.2

4,602

8,416

+82.9

+6.5

4,736 -54.7 -1.9
1,497 +144. 3 +198. 3
.919 -10.1 +13.7

15,498
10, 798

—44.0 +113. 2
-5.3
+13.6

99, 221
1, 252, 223

13, 142 -15.2
26, 705 +147. 3

Total Grains
Total grain exports, incl.flour_. thous. of bush..
Car loadings of grain and grain products .cars..

23, 647
164, 804 "270,"6l6"

145. 401
1, 187, 699

+46.5
-5. 2

Argentine Grains
Visible supply, end of month:
Wheat
thous of bush
Corn
thous of bush
Flaxseed
thous. of bush

7,700
12,800
5,200

Rice
Southern paddy, receipts at mills
bbls..
Shipments:
Total from mills
pockets (100 Ibs.)..
New Orleans
pockets (100 Ibs.)
Stocks, end of month:
Mills and dealers
pockets (100 Ibs )
Imports
. pockets (100 Ibs.)
Exports..
pockets (100 Ibs.). _
Other Crops
Apples:
Cold-storage holdings
*
(end of month) _ .
thous. of bbls .
Car-lot shipments
... . carloads..
Potatoes, car-lot shipmentscarloads..
Onions, car -lot shipments .
carloads _
Citrus fruits, car-lot shipments
carloads,.
Hay, receiptstons..

11, 000

29, 183

8,252

9,466

5,638

+46.4

2, 134, 453

771, 549

-63.9

337, 221
117, 128

192, 507
38, 849

82,008
89, 607

135, 094
34, 646

135, 259
41,036

130, 924 -57.4 -39.4
1,979 +130. 7 +118. 4

3, 895, 167
851, 886

3, 022, 486
807, 504

-22.4
-5.2

363, 747
55, 333
52, 574

223, 542
34, 351
43, 854

95, 427
63, 238
13,946

302, 640
50,364
36, 908

165, 241
16, 814
23, 234

398, 953
39, 091
23,883

-57.3 -42.2
+84.1 +276. 1
-68.2 -40.0

271, 093
914, 363

432, 194
475, 793

+59.4
-48.0

1,525
19, 397
1,932
8,332
54, 349

899
19, 976
590
5,464
48, 022

2,667
17, 467
1,725
3,587
71, 783

866
20, 470
981
7,811
76, 090

2,312
22, 938
2,057
4,100
61, 672

19, 321 -35.3
138, 279 1
-1.4
13, 377
-7. 5
61, 547 ! -11.9
465, 908 -16.6

1,737
602
216
1.123

1,746
534
154
1,190

1,970
706
243
1. 252

1,673
631
201
1,030

1,798
641
169
1.141

3,956
14, 326
2,391
2,442
77, 611

2,927 +200. 6
15, 959 -12.6
2, 405 +192. 4
3,856 -34.4
65, 275 +49.5

+15.4 i
23 9
-16. 1 1
-12.5 i
+16.4

29, 870
140, 256
14, 461
69, 087
558, 426

+12.8
+32.2
+57.8
+5.2

+9.6
+10.1 1
+43.8 i
+9.7 !

12, 013
4, 450
1, 472
7. 481

Cattle and Calves
Cattle movement, primary markets:
Receipts.
. _ ..thousands..
Shipments, total
thousands
Shipments, stocker and feeder thousands..
Local slaughter
thousands . .




1,934
826
306
1.092

12, 539
4,414
1, 508
8.024

+4.4
-0.8
+2.4
+7.3

37
TREND OF BUSINESS MOVEMENTS—Continued
Where available, August data have been
included in this table. The cumulatives shown are in most instances,
however, only through July, and where
designated by a footnote through June.
Detailed data for items shown here
may be found on pages 29 to 151 of the
August, 1925, "Survey."

FOODSTUFFS— Continued
Cattle and Calves— Continued
Beef products:
Inspected slaughter product—thous. of lbs_.
Apparent consumption
thous. of Ibs
Exports
thous. of Ibs
Cold-storage holdings
(end of month)
thous, of Ibs
Prices, Chicago:
Cattle, corn-fed
dolls, per 100 Ibs
Beef, fresh native steers
dolls, per lb._
Beef, steer rounds, No. 2
dolls per Ib

PER CENT INCREASE (+ ) OR
DECREASE (— )

1924

1925

CUMULATIVE TOTAL
FROM JAN. 1
THROUGH JULY 31

Per
cent
increase
(+)
or decrease
(-)
1925
from
1924

June

July

August

July,
1925,
from
June,
1925

July,
1925,
from
July,
1924

1924

1925

382, 657
378, 979
11, 909

435, 299
431, 298
14, 029

444, 732
432, 887
14, 387

+14.4
+14.5
-9.8

+9.9
+11.1
—15.1

2,869,491
2, 845, 354
88, 164

3, 015, 730
3, 024, 360
77, 919

+5.1
+6.3
-11.6

45, 270

59, 418

49, 812

48, 906

-3.6

-0.3

12.08
.185
.188

9.60
.168
.175

9.56
.165
.170

9.48
.165
.169

+10.1
+1.7
+11.0

+20.9
+7.9
+12.9

2,798
995
35
1,804

4,296
1,417
29
2,852

4,091
1,477
23
2,605

3,196
1,213
25
2,017

-20.2
-18.6
-28.6
-21.5

-31.6
-32.6
+52.2
-30.7

33, 503
12, 239
304
21, 220

27, 025
9.757
326
17, 277

-19.3
-20.3
+7.2
-18.6

650, 452
546, 121
104, 146

512, 095
478, 567
89, 977

737, 102
618, 639
109, 369

731, 931
644, 412
148, 208

548, 939
535, 161
135, 104

-21.3
—12.4
-13.6

-30.0
-25.7
-39.3

5, 467, 086
4, 135, 728
1, 100, 684

4, 462, 262
3, 551, 463
768, 719

-18.4
-14.1
-30.2

886, 713

884, 574

815, 460

699, 163 1, 025, 158

960, 257

835, 547

-7.7

-14.9

748,418

738, 655

669, 536

584, 503

872, 638

810, 585

710, 871

-9.2

-17.3

109, 183
71, 135

124,507
59, 779

118, 969
49,414

90, 969

166, 851
59,475

177, 565
86, 706

121, 584
75, 937

-4.4
-17.3

-33.0
-43.0

1, 275, 400
615, 530

936. 805
426,859

-26.5
-30.7

138, 295

145, 919

145, 924

114, 660

152, 520

149, 672

124, 676

0.0

-2.5

12.18
.256
.163

12.70
.263
.176

13.79
.293
.181

13.13
.298
.179

7.25
.196
.111

8.19
.204
.126

9.61
.222
.143

+8.6
+11.4
+2.8

+68.4
+43.6
+43.7

1,689
877
178
830

1,603
603
137
908

1,699
763
186
939

1,550
650
153
903

1,672
712
226
959

2,005
1,022
444
978

+6.0
+26.5
+35.8
+3.4

+1.6
+7.2
-17.7
-2.1

10, 390
4,724
940
5,675

10, 891
4,980
962
5,843

+4.8
+5.4
+2.3
+3.0

40, 698
40, 709

36, 417
36, 543

39, 374
39, 311

35, 097
34, 504

37, 539
37, 908

38, 788
38,630

+.8.1
+7.6

+4.9
+3.7

256, 973
257, 737

272, 271
273, 063

+6.0
+6.0

1,913

1,535

1,349

1,351

2,919

2,257

2,230

-12.2

-40.3

6.53
12.28

5.63
14.87

6.81
14.66

6.40
14.60

4.83
14.73

4.84
13.75

5.97
13.28

+21.0
-1.4

+40.7
+6.6

1, 154, 856 1, 204, 769 1, 032, 459
695, 710 1, 087, 495 1, 012, 326 825, 651
1, 032, 122 1,113,418 1, 006, 678

-6.8
-16.6
-0.5

14 5
-21.1
-10.5

8, 593, 550

7, 750, 018

-9.8

7, 238, 809

6, 848, 866

-5.4

156, 969

May

June

July

435, 890
444, 321
14, 247

418, 082
418. 299
13, 212

478, 231
478, 976
11,916

74, 618

61, 554

49, 674

9.66
.178
.162

10.50
.175
.173

11.56
.178
.192

3,283
1,346
36
1,931

3,507
1,222
49
2,298

555, 823
522, 003
109, 173

August

Hogs and Pork
Hog movements, primary markets:
Receipts
thousands
Shipments, total
thousands
Shipments, stocker and feeder thousands
Local slaughter
_ . thousands
Pork products, total:
Inspected slaughter product—thous. of lbs_.
Apparent consumption
thous. of Ibs
Exports
thous. of Ibs
Cold-storage holdings, total
(end of month)
thous of Ibs
Fresh and cured
(end of month)
thous of Ibs
Lard (included in pork products) :
Production
thous. of Ibs
Exports..
thous. of lbs_.
Cold-storage holdings
(end of month)
thous of Ibs
Prices:
Hogs, heavy, Chicago dolls, per 1001bs_.
Hams smoked Chicago
dolls per Ib
Lard, prime contract, N. Y_ .dolls. perlb..
Sheep and Lambs
Sheep movement, primary markets:
Receipts
thousands
Shipments, total
thousands
Shipments, stocker and feeder.. thousands ..
Local slaughter
thousands
Lamb and mutton:
Inspected slaughter product. .thous. of lbs._
Apparent consumption
thous. of Ibs
Cold-storage holdings
(end of month)
thous of Ibs
Prices:
Sheep, ewes, Chicago
dolls, per lOOlbs..
Sheep, lambs, Chicago. _. dolls, per 1001bs_.
Total Meats
Production, inspected slaughter ..thous. of lbs._ 1,032,411 1, 104, 706 1, 029, 700
Cold-storage holdings
thous of Ibs
963, 244 947, 663 790, 425
Apparent consumption
thous. of Ibs 1, 007, 033 1, 001, 758 996, 854
Poultry
129,363 -17.6

thous. of Ibs

16, 354

17, 918

17, 932

17,466

18, 128

19, 973

17, 708

+0.1

-10.2

thous of Ibs

68, 126

58, 562

53, 558

48, 087

34, 886

33,542

33, 837

-8.6

+59.5

Total catch, prin. fishing ports... thous. of lbs_. 17, 167
Cold-storage holdings, 15th of mo .thous. of lbs_. 23, 570
Canned salmon, shipments
cases
132, 926

25, 261
31, 959
279, 022

25, 282
40,001
604, 231

18, 334
26, 986
337, 809

22, 592
36, 036
660, 591

+0.1
20, 018
49, 026 +25.2
780, 775 +116. 6

+11.9
+11.0
-8.5

117, 493

138, 770

47, 435

2, 405, 013

2, 098, 760

377, 463

348, 807

-7.6

128, 919

126, 761

-1.7

11, 758

11, 737

-0.2

Receipts at 5 markets
Cold-storage holdings
(end of month)
Fish

+18.1
-12.7

Dairy Products

Butter:
Receipts, 5 markets
thous of Ibs
Cold-storage holdings, creamery (end of month)
thous of Ibs
Cheese:
Receipts, 5 markets
thous. of Ibs
Cold-storage and holdings, American (end of month)
_.. thous. of lbs_.
Wholesale price, 5 markets ...dolls, per lb_Eggs:
Receipts, 5 markets _
thous. of cases
Cold-storage holdings (case).thous. of cases..

56, 838

74, 171

69, 970

55, 064

77, 487

77, 706

57,282

-5.7

-10.0

13, 036
.420

63, 687
.429

109, 075
.434

128, 449

74, 184
.401

130, 402
.396

156, 232
.385

+71. 3
+1.2

-16.4
+9.6

18, 530

24, 025

25, 825

22, 472

22,043

25 142

19, 996

+7.5

+2.7

29, 550
.214

46, 468
.226

66, 634
.230

76, 593

45, 239
.195

65, 716
.196

76, 431
.197

+43.5
+1.8

+1.4
+17.3

2,193
7,712

2,025
9. 482

1,315
10, 024

1,042
9,863

1,870
8,685

1,431
9,264

1,043
8,751

-35.1
+5.7

-8.1
+8.2

193, 307

187, 636

193, 288

288, 459

282, 431

242, 543

+3.0

-31.6

48, 244
11, 745
132. 826

23, 481
30, 257
234, 288

33, 007
24, 093
224, 960

27, 375
20, 833
194, 066

+11.6
-16.0
+2.2

+46.2
-51.3
-31.0

Milk
Stocks, manufacturer's, end of month:
Total
thous
CondensedCase goods
thous
Bulk goods
thous
Evanorated. case eoods
-thous.




of Ibs
of Ibs
of Ibs
of lbs_

31, 035
10, 363
151. 620

43, 243
13, 988
129. 947

38
TREND OF BUSINESS MOVEMENTS—Continued
Where available, August data have been
included in this table. The cumulative* shown are in most instances,
however, only through July, and where
designated by a footnote through June.
Detailed data for items shown here
may be found on pages 29 to 151 of the
August, 1925, "Survey."

FOODSTUFFS— Continued
Milk— Continued
Unsold stocks, manufacturer's, end of month:
Total
thous. of lbs._
CondensedCase goods
thous of Ibs
Bulk goods
thous. of Ibs
Evaporated, case goods
thous. of lbs._
Exports:
Condensed
thous. of Ibs _
Evaporated
thous. of lbs_.
Powdered
thous. of Ibs..
Fluid milk:
ReceiptsBoston (includ. cream) -.thous. of qts._
Greater New York
thous. of cans..
Production, Minneapolis
thous. of Ibs. _

1925

from
June,
1925

July,
1925,
from
July,
1924

+35.1

1925,

June

July

154,681

102,803

22, 711

3,962
11, 809
352

19, 388

18, 104
2,761

.thous. of Ibs. _

79,548

87,967

5,123
537
498

5,009
713
716

thous. of bags..
thous. of bags..

618
292

4,183

185, 584

4,690

3,560
14, 653
286

thous. of bags..
thous. of bags..
thous. of bags..

213, 166

7,543

3,519
10, 732
286

2,902

August

92, 251

125, 092

17,472
2,676
28,763

July

20, 792
20, 071
189, 528

31, 622
8,157
62, 568

6,632

June

230, 769

138, 885

August

38, 621

6,771
251

CUMULATIVE TOTAL
FROM JAN. 1
THROUGH JULY 31

Per
cent
increase
(
or-tf
decrease
(-)
1925
from
1924

-34.8

July,

May

Sugar
Raw:
Imports. .
long tons.. 407, 005 387, 263
Meltings, 8 ports
long tons _ 460,822 478, 833
Stocks at refineries
(end of month)
long tons _ 325, 906 376, 868
32, 258
34, 699
Refined, exports
long tons
Cane, domestic:
102
Receipts at New Orleans
long tons..
623
Prices:
Wholesale, 96° centrifugal,
.044
N. Y
dolls, per Ib .
.043
.055
.055
Wholesale refined, N. Y
dolls, per lb_.
.062
Retail, granulated, N. Y
dolls, per lb._
.062
104
Retail, average 51 cities
index number..
131
Cuban movement:
Receipts at Cuban ports..
long tons.. 615, 616 309, 213
447, 557
487, 380
Exports
long tons
Stocks, end of month
long tons.. 1, 290, 663 1, 121, 345
Coffec
Imports
.
...
Visible supply:
World
United States
Receipts, total, Brazil
Clearances:
Total, Brazil, for World
Total, Brazil, for U. S

PER CENT INCREASE (+) OR
DECREASE (— )

1924

1924

1925

22, 759

11, 532
173, 260

9,733
152,824

+22.1 +37.9
-7.5. -34.6
+47.4 -46.8

4,819

8,782

5,392
10,502
445

-17.8
+34.5
+97.8

40, 719

178

+11.3
-19.4
+23.1

1,785

25, 134
65, 753
2,145

-38.3
-18.6
+20.2

28,002

80,729

17, 317

18, 448

16, 846

-1.9
+2.9

113,323
17,463

116, 776
19, 136

+3.0
+9.6

22, 676

2,646
19,009

-6.6
-4.9

25, 913

2,637

2,684

325, 082
482, 824

438, 767

326, 913
454, 313

377, 399
507, 318

269, 500
450, 158

—16.1
+0.8

-13.9
-4,8

2, 566, 264
2, 959, 492

2, 699, 724
3, 216, 583

+5.2
+8.7

323, 649
49, 457

235, 725

337, 110

22,329

313, 796
22, 054

216, 277
39, 097

-14.1 +3.1
+42.5 +124. 3

124, 873

179, 317

+43.6

557

124

331

672

1,010

-10.6

-17.1

25, 707

5,631

-78.1

.043
.053
.061
129

.044
.054
.062

.051
.065
.074
151

.051
.066
.074
153

.054
.066
.073
149

-2.3
-3.6
-1.6
+24.0

-15.7
-19.7
-17.6
-15.7

201, 791
336, 775
970, 025

179, 225
333, 938
822, 799

295,007

141, 668

168,812
366, 297
570, 802

164, 990
315, 282
432, 123

-34.7
-30.9
-13.5

+19.5
-8.1
+69.9

3, 435, 420
2, 882, 461

4, 311, 039
3, 365, 016

+25.5
+16.7

788, 141

+34.7

-13.3

855,447

696, 312

110, 101

136, 627

113, 526

5, 126
804
1,094

5,118
859
1,173

5,020

760
1,110

4,351
873
540

5,183
966
1,539

1,242
676

1,235
701

1,487
794

1,039
634

997
406

1,455
566

-0.6
+3.7

+23.9
+72.7

4,819

9,536

6,344

7,929

8,638

+97.9

7,434

570

576
7,612

6,455

6,583

595

574
6,316

34, 630

35,653

33, 565

34, 407

34,959

27, 460
710
239

39, 037
317
69

55,854

34,805

1,216
1,698

33, 813
745
591

25.00

25.00

25.38

24.50

24.50

0.0

1,920
1,029
502

1,961
1,063
476

2, 0231,159
533

2,097
1,196
538

1,958
1,072
445

+2.1
+3.3
-5.2

10, 942
316
391

11, 668
386

11, 663

11,077

11, 140
353
447

11, 051
290
412

565, 228

609, 727

716, 142

6,378

6,833
2,578
4,255

-18.6

+2.0

118, 493

+2.3 +17.8
+12.8
-7.9
+52.8- +102.6

7,252

5,551

-23.5

7,150

3,685

6,342
3,409

-11.3
-7.5

+20.3

43,456

44, 486

+1.1
+2.4

-3.2
+15.6

3,721
41, 134

46, 164

+2.9

+3.6

244, 177

241, 755

-1.0

+42.2 +15.4
-55.4
-57.4
-71.1 -88.3

356, 265

6,568
160,997

212, 514
5,163
165, 711

-40.3
-21.4
+2.9

-6.5
-11.1
-11.5

15, 576
9,111

13, 506

3,826

7,394
3,328

-13.3
-18.8
-13.0

+6.6
+22.2

+4.7
+9.3

33,700

37,424

827

1,067

+11.1
+29.0

Tea
Imports

thous. of Ibs
TOBACCO

Consumption (tax-paid withdrawals) :
515
Large cigars
millions..
6,465
Small cigarettes
millions. .
Manufactured tobacco
34, 338
and snuff
thous. of Ibs
Exports:
Unmanufactured leaf
thous. of lbs_. 22, 415
1,004
Cigarettes
.
_
millions .
Sales of loose-leaf, warehouses
thous. of lbs_.
1,156
Price, wholesale, Bui ley good leaf,
dark red, Louisville
dolls, per 100 Ibs . 24.50

563

25.00

782

33,434

3,585

-3.7
+12.2

TRANSPORTATION
River and Canal Caigo Traffic
Panama Canal:
Total cargo traffic
thous. of long tons..
1,823
987
In American vessels.. thous. of long tons. _
In British vessels
thous. of long tons..
444
Canals—
Sault Ste. Marie..thous. of short tons..
11, 210
New York State. .thous. of short tons. .
300
382
Cape Cod
thous. of gross tons..
Mississippi River:
Government-owned barges
tons. . 97, 349
Ohio River, Pittsburgh, Pa., to
Wheeling, W. Va
short tons . 633, 605

269
383
82, 565

70, 387

76, 609

501, 075

439, 861

609, 940

+7.9

+38.6

3, 023, 836

3, 493, 612

+15.5

6,060
2,489
3,572

6,638
2,724

6,713

3,913

2,877
3,837

+7.1
+3.9
+9.2

+2.9
-5.4
+8.7

38, 244
16, 611
21, 584

39, 517
15, 466
24, 052

+3.3
-6.9
+11.4

23.3

75, 283

22.1

22.3

22, 951
15, 724

18,070

3,965

+61.1

+66.6

141, 015
91, 111

140, 508
89, 165

-0.4
-2.1

185

164

164

-15.6

-4.3

Ocean Tiaffic
Clearances, vessels in foreign trade:
Total
..... thous of net tons
American
_
thous. of net tons _
Foreign
thous. of net tons
Indexes of ocean freight rates:
Liner rates, Altantic ports to Europe
index number (Jan., 1920=100)
Vessel construction:
Completed during month—
Total
gross tons
Steel seagoing .
gross tons
Building or under contract, end of mo. —
Merchant vessels. .thous. of gross tons..




5,957
2,439

2,481

3,518

3,897

25.6

23.7

31, 826

16,200

18,687
9,767

30, 101
21, 951

177

186

157

8,415
1,631

10, 484

(

386 +124.7 +109.4

39
TREND OF BUSINESS MOVEMENTS—Continued
Where available, August data have been
included in this table. The cumulative* shown are in most instances,
however•, only through July, and where
designated by a footnote through June.
Detailed data for items shown here
may be found on pages 29 to 151 of the
August, 1925, "Survey."

PER CENT INCREASE (+) OR
DECREASE (— )

1924

1925

July,
August

from
June,
1925

July,
1925,
from
July,
1924

138, 734
146, 840
322, 530

69, 244
97, 089
194, 306

-6.7
-26.3
-14.2

94
13
150

212
19
248

—55.6

-95.7

-77.8

-97.3

3,625
152
120
597
274
237
964
1,281

3,525
174
118
577
240
221
917
1,279

4,844
304
152
806
343
255
1,213
1,771

-1.7
+13.8
-0.9
+3.2
-12.5
-0.4
-4.3
-1.8

+10.3
-5.2
-11.0
+17.9
+7.5
+13.6
+7.4
+12.9

197, 281
8.4

194, 869
8.5

202,864
8.9

210, 109
9.2

-0.6
-1.2

-2.8
-5.6

377, 517
97, 916
522, 427
382, 905
99, 463

323, 375
95, 953
465, 670
364, 229
65, 801
31,967

340, 088
97, 359
481, 826
370, 100
74, 368
33, 157

358, 424
104, 519
508, 394
373, 599
95, 415
36, 442

+3.2
+5.7
+3.1
+1.9
+8.4

+11.0
+0.6
+8.4
+3.5
+33.7

3,276

6,717
4,623
3,118

6,345
5,421
3,097

7,182
4,998
3,491

+4.0

+5.8

10,917
17.1

10, 658
16.7

11, 034
17.1

11, 105
17.2

10, 964
17.0

-2.6
-2.3

-4.0
-2.9

64,484
2,590
147
172
51

64, 435
2,591
179
224
16

64, 420
2,594
139
170
26

64, 924
2,569
160
178
1

65, 008
2,576
197
113
91

65, 062
2,583
229
166
9

96
68

110
61

66
58

104
91

145
134

140
130

139
121

467
378
397
353
283
Domestic
number
300
59
80
Building in R . R . shops (end of mo .) number. .
66
Locomotive exports:
Stftam
ntimbpT*
45
Freight cars (Am. Ry. Assn.):
Owned (end of month)
number 2, 356, 641 2, 359, 040 2, 361, 551
209, 804
210, 701
Capacity
mills of Ibs
210, 256
10, 542
12, 982
12, 191
Installed during month
number
10, 051
8,658
9,797
Retired during month
number
8,944
2,816
Ordered from manufacturers
number
777
Shipments by manufacturers (I. C. C.):
7,059
5,040
Freight cars total
number
7,639
7,030
4,880
7,623
Domestic
number
Unfilled orders by manufacturers (I. C. C.):
23, 881
12, 685
18, 353
Freight cars total
number
11,835
23, 316
17, 561
Domestic
number
8,189
9,042
8,633
Building in R R shops
number
Passenger cars:
9
22
34
Ordered from manufacturers
number
Shipments by manufacturers (I. C. C.):
77
82
81
Total
number
75
77
81
Domestic
number !
Unfilled orders (I. C. C.):
699
500
440
Total
number
651
404
466
Domestic
number i
Passenger Travel

309
225

531
462
72

483
416
63

361
306
50

31

17

Per
cent
increase
(+)
or decrease
(-)
1925
from
1924

+0.5
-45.1
-18.2

64
3
98

CUMULATIVE TOTAL
FROM JAN. 1
THROUGH JULY 31

36

TRANSPORTATION— Continued
Freight Cars
Surplus (daily av. last week of month):
Box
number
Coal
number
Total..
number
Shortage (daily av. last week of month):
Box _
number
Coal
number
Total
number
Car loadings (monthly totals) :
Total
. __ thous. of cars
Grain and grain products
thous. of cars..
Livestock
thous. of cars
Coal and coke
_
thous. of cars..
Forest products .
thous. of cars
Ore
_
_thous. of cars..
Merchandise
thous. of cars..
Miscellaneous
thous. of cars
Oars in bad order:
Total, end of month
cars
Ratio to total on line
per cent
Railroad Operations
He venue:
Freight
-thous. of dolls..
Passenger...
-thous. of dolls
Total operating
thous . of dolls . .
Operating expenses
thous. of dolls
Net operating income
thous of dolls
Freight carried
mills, ton-miles..
Pullman company operations:
Re venue .._ .
.
thous. of dolls
Expenses
..thous. of dolls .
Passengers carried
thousands
Locomotives in bad order:
Total, end of month
number
Per cent of total in use
per cent

1925,

May

June

July

140, 676
133, 559
323, 624

149, 405
109, 404
307, 495

139, 428
80, 661
263, 876

153, 550
162, 343
356, 389 '

4
None.
7

9
None.
18

4
None.
4

4,855
183
136
807
379
310
1,268
1,772

3,956
145
106
659
295
252
1,029
1,470

3,888
165
105
680
258
251
985
1,444

195, 986
8.4

198, 468
8.5

359, 170
82,004
488,683
375, 755
75, 857
37, 147

365, 988
92, 596
506, 809
375, 936
91, 751
35, 863

6,367
5,182
2,777

7,291
5,216
3,150

10, 902
17.0

August

5,364
271
149
1,023
358
315
1,297
1,951

July

June

i

1924

1925

26, 710
1,252
941
4,972
2,172
911
7,121
9,340

28,185
1,188
872
5,783
2,229
1,045
7,464
10, 240

+5.5
-5.1
-7.3
+16.3
+2.6
+14.7
+4.8
+9.3

2, 408, 973 2, 497, 731
626, 402
596, 701
3, 354, 068 3, 417, 667
2, 644, 251 2, 621, 774
541, 155
466, 712
2
204, 721 2 212, 532

+3.7
-4.7
+1.9
0.0
+16.0
+3.8

2 35, 585
2 30, 329
19, 429

2 37, 908
2 31, 182
19, 858

+6.5
+2.8
+2.2

-0.9
0.0
+0.1 +0.7
-22.3 —29.4
-24.1 +50.4
+62.5 -71.4

1,268
1,044
861

1,066
1,527
384

-15.9
+46.3
-55.4

-40.0
-4.9

-52.9
-55.4

851
787

648
480

-23.9
-39.0

-4.8
-5.7
+0.6

-21.7
-32.0
-6.3

+0.1
+0.2
-13.5
+2.6

+1.7
+2.9
-36.4
+19.5

18, 946
65. 366

92, 263
68. 390

+12.6
+.6

-34.0
-36.0

-47.4
-49.4

42, 445
42, 079

58, 506
56, 160

+37.8
+33.5

64.2
-65.3
+77.9

657
611

471
458

-28.3
-25.0

Equipment Installation
Locomotives (Am. Ry. Assn.):
Owned (end of month)
number
Tractive power
mills of Ibs
Installed during month
number
Retired during month
number..
Ordered from manufacturers _ . number
Shipments by manufacturers:
Total
number
Domestic
number
Unfilled orders-— manufacturers:

National parks:
124, 205
Visitors
number
11, 059
Automobiles entered
number
Arrivals from abroad:
26, 045
Aliens
number
United States citizens
number I 22, 540
Departures abroad:
8,403
Aliens
number
33, 583
United States citizens
number .
Passports issued
.number. . 31, 985
1
Curnulatives for six months ending June 30.




V

2, 314, 798 2, 322, 968 2, 329, 582
205, 690
203, 139
204, 777
15, 452
10, 909
16, 583
8,834
8,347
8,413
5,054
412
567

6,854
6,813

9,584
9,580

9,411
9,350

44, 462
43, 152
2,269

35, 479
34, 092
4,602

33, 535
31, 387
3,618

-30.9
-32.6
-5.1

l

40

194

213

-73.5

-95.4

102
102

63
63

94
94

+1.2
-7.4

+30.2
+19.0

618
605

635
621

621
607

+58.8
+61.1

+10.1
+4.8

•

I

252, 589
22, 576

411, 376
77, 723

210, 196
32, 330

416, 121
64, 654

25, 304
27, 347

18, 590
32, 080

36, 309
21, 320

11, 661
20,927

5,747
39, 289
26, 359

8,784
66, 136
13, 830

6,831
33, 504
22, 207

8,493
43, 812
12, 536

9,370

380, 568 +62.9
57, 217 +244. 3

-1.1
+20.2

901, 491
111, 054

996, 720
119, 536

+10. 6
+7.6

23, 290
44, 791

-26.5
+17.3

+59.4
+53.3

218, 694
149, 052

165, 167
177, 379

-24.5
+19.0

8,633
37, 657
8,571

+52.8
+68.3
-47.5

+3.4
+51.0
+10.3

40, 983
188,062
106, 773

48, 881
233, 061
129, 974

+57.8
+23.9
+21.7

40

TREND OF BUSINESS MOVEMENTS—Continued
1

Where available, August data have been
included in this table. The cumulatives shown are in most instances,
however, only through July, and where
designated by a footnote through June.
Detailed data for items shown here
may be found on pages 29 to 151 of the
August, 1925, "Survey."

1925

PEE CENT INCREASE (+) OR
DECREASE (— )

1924

July,
May

June

August

July

June

July,

from
June,

from
July,

1925,

July

August

CUMULATIVE TOTAL
FROM JAN.
1
THROUGH JULY 31

1925

1925,

mi

1935

33, 708
12, 070
21, 638

36,800
13, 236
23, 563

1924

Per
cent
increase
(+
J
or decrease
(-)
1925
from
1924

PUBLIC UTILITIES
Telephone companies:
Operating revenues
thous of dolls
Operating income
thous. of dolls ..
Telegraph companies:
Commercial telegraph tolls. thous. of dolls ..
Operating revenue
.thous. of dolls.Operating income
thous. of dolls. _
Electric power:
Production —
Total
mills, of kw. hours
By water power mills, of kw. hours__
By fuels
mills, of kw. hours. .
In street rys. mfg.
plants, etc." h mills, of kw. hours..
Central stations . .mills, of kw. hours..

+0.1 +12.9
-6.3 +41.6

53, 119
12, 187

53, 746
12, 613

53, 815
11, 815

47, 546
10,006

47, 656
8,346

49, 936
10, 137

9,652
11, 966
1,646

10, 452
12, 808
1,967

10, 448
12, 868
1,755

8,808
10, 992
1,459

8,910
11, 160
1,380

9,212
11, 435
1,586

0.0
+0.5
-10.8

+17.3
+15.3

5,189
2,025
3,164

5,203
1,845
3,357

5,338
1,868
3,470

4,554
1,706
2,848

4,613
1,603
3,010

4,735
1,518
3,218

+2.6
+1.2
+3.4

+15.7
+16.5
+15.3

377
4,812

374
4,829

379
4,959

351
4,203

357
4,256

353
4,382

+1.3
+2.6

+4.8
+16.5

491
240
85
90
82
122.3
96.5
87.6

486
243

487
244

471
194
85
83
76
115.0
96.5
84.5

+23.4

94.4

470
197
84
82
78
115.5
96.2
82.0

-1.0
+1.2

128.3
95.3
86.5

489
202
88
86
77
111.4
100.7
85.7

+4.9
-1.2
-1.3

+11. 1
-0.9
+5.5

13, 717
284.8
87
85
84

13, 589
286.2

13, 722

13, 317
243.2
88
80
78

12, 741
236.6
81
72
76

12, 905
250.3
82
•
77
79

-0.9
+0.5

+6.7
+21.0

27.94
113.8
232. 4
182.9
102
97
100

27.98

28.16

27.21
110.9
218.5
213.5
101
95
99

27.12
108.0
204.9
214.2
97
89
95

27.40
109.1
217.6
211.4
98
94
101

+0.1

+3.2

-4.2
+2.4

+8.6
-12.6

26.49
28.98
30.65
23.19
16.95

25.44
28.52
30.19
22.94
15.95

25.12
27.07
28.62
21.95
15.76

25.18
27.14
28.68
21.94
16.04

49.8
47.4

49.9
45.4

49.6
44.8

49.5
45.2

1.57
1.42
2.11
1.31
.69

1.59
1.43
2.00
1.34
.82

1.69
1.25
1.75
1.31
.67

-9.7
+11.9
-1.7
+11.1

+20.3

-11.9
-7.7
-11.5
+1.5
-13.4

64, 489
150, 048

+0.1
+0.2

-0.1
-0.8

47
42
28
25
28
39
39
40
53
38
40

+2.2
+2.4
-3.4
-3.8
+4.0
-5.3
-7.9
+2.1
-1.9
0.0
0.0

-12.4
0.0
0.0
+4.2
0.0
-7.7
-2.8
+17.1
-1.9
0.0
0.0

+27.2

+9.2
+9.7
+4.3

EMPLOYMENT
Number employed, State and city reports:
495
New York State.
thousands..
237
Detroit
thousands..
New Jersey (rel. to 1923) _. .index number _.
86
Pennsylvania (rel. to 1923) index number _.
90
82
Delaware (rel. to 1923) ..index number _.
121.1
Wisconsin (rel. to 1915)
index number. _
Illinois (rel. to 1922)
index number _.
96.9
90.3
Massachusetts (rel. to 1914) .index number. .
Total pay roll:
New York State
..thous. of dolls. . 13, 891
289.4
Wisconsin (rel. to 1915)
index number __
90
New Jersey (rel. to 1923) _ ..index number. .
Pennsylvania (rel. to 1923) .index number. .
88
Delaware (rel. to'1923)
index number..
86
Average weekly earnings:
New York State
dolls. . 28.07
Illinois (rel. to 1922)
index number .
113.0
238.4
Wisconsin (rel. to 1915)
index number..
Massachusetts (rel. to 1914) .index number..
185.4
104
New Jersey (rel. to 1923) _. -index number..
Pennsylvania (rel. to 1923) .index number. _
100
Delaware (rel. to 1923)
index number. .
102
Average weekly earnings (National Industrial
Conference Board):
27.02
Grand total (both sexes) _ _
dollars..
Total male
...dollars..
29.50
31.19
Skilled male
'—
dollars..
Unskilled male.
dollars..
23.66
Total women
dollars..
17.50
Average weekly hours:
Nominal (both sexes)
hours..
50.1
48.1
Actual (both sexes)
hours..
Employment agency operations:
Applicants per job1.29
United States average
number..
1.24
Eastern States
number..
Central States
number..
1.62
Southern States
number..
1.22
Western States
number. .
.59
Federal civilian employees, Washington, D. C
number.. 64, 611
Anthracite miners. _
number. _ 153, 282
Wages of com mon labor by geographic divisions:
46
New England
cents per hour..
Middle Atlantic..
cents per hour..
42
South Atlantic
cents per hour..
28
East South Central
cents per hour..
26
24
West South Central
cents per hour-East North Central
cents per hour..
37
West North Central
cents per hour..
38
45
Mountain
cents per hour..
52
Pacific—
cents per hour..
United States average
cents per hour..
38
U . S Steel Corp. wage rates
cents per hour. .
40
DISTRIBUTION MOVEMENT
•
Mail-order houses:
Total sales
__
thous. of dolls..
Sears, Roebuck & Co
thous. of dolls_.
Montgomery Ward & Co.. thous. of dolls..
Ten-cent stores:
Total sales
thous. of dolls..
F. W. Woolworth & Co thous. of dolls..
Number of stores operated
S S. Kresge Co
thous. of dolls
Number of stores operated
McCrory Stores Corp
thous. of dolls. .
Number of stores operated
S. H. Kress & Co
thous. of dolls
Number of stores operated
Restaurant chains:
Total sales
thous. of dolls..
Childs Co., sales
thous. of dolls _
Waldorf System (Inc.),
sales
_
thous. of dolls..




222.6
187.3

+3.4

...:.,:. ._-|__Y_:~~~

1.55
1.18
1.80
1.22
.59

1.40
1.32
1.77
1.36
.71

63,756
151, 897

63,837
152, 169

64, 120
153,482

64, 437
153, 333

46
42
29
26
25
38
38
47
53
38
40

47
43
28
25
26
36
35
48
52
38
40

51
47
30
25
27
38
35
45
55
39
40

51
43
28
24
26
39
36
41
53
38
40

29, 529
17, 469
12, 060

30, 526
16, 095
14,431

27, 916
17, 073
10, 843

28, 749
16, 947
11, 802

26, 978
13, 939
13,039

22, 069
13, 416
8,653

23, 809
13, 476
10, 333

-8.6
+6.1
-24.9

+26.5
+27.3
+25.3

202, 713
118, 334
84, 379

218, 585
135, 316
93, 669

+7.8
+14.4
+11.0

31, 988
18, 510
1,397
7,838
273
2,095
173
3,545
160

31, 350
17, 920
1,403
7,898
275
2,189
173
3,343
161

30r627
17, 829
1,405
7,510
275
2,150
173
3,138
162

32, 667
18, 780

27, 210
15,485
1,316
6,478
242
1,877
1
170
3,370
157

27, 320
15, 950
1,328
6,371
245
1,909
171
3,099
158

28, 787
16, 927
1,334
6,802
245
2,060
171
3,000
158

-2.3
-0.5
+0.1
-4.9
0.0
-1.8
0.0
-6.1
+0.6

+12.1
+11.8
+5.8
+17.9
+12.2
+12.6
+1.2
+1.3
+2.5

185, 313
107,240

207, 847
119, 112

+12.2
+11.1

45, 727

51, 862

+13.4

12, 634

13, 978

+10.6

29, 727

22, 377

+13.4

2,993
1,919

2,811
1,810

2,966
1,943

2,866
1,820

2,940
1,900

3,078
2,023

+5.5
+7.3

+0.9
+2.3

20,841
13, 236

20, 761
13, 451

-0.4
+1.6

1,074

1,001

1,023

1.046

1.040

1.055

+2.2

-1.6

7.605

7.310

-3.0

•

8,178

2,328
3,381

2,109

•

TREND OF BUSINESS MOVEMENTS—Continued
Where available, August data have been
included in this table. The cumulative* shown are in most instances,
however, only through July, and where
designated by a footnote through June.
Detailed data for items shown here
may be found on pages 29 to 151 of the
August, 1925, "Survey."

1925

PER CENT INCREASE (+) OR

1924

DECREASE (— )

July,
May

June

July

August

June

July

August

1925,

from
June,
1925

July,
1925,
from
July,
1924

CUMULATIVE TOTAL
FROM JAN.
1
THROUGH JULY 31

1994

1925

Per

cent
in-

crease
( }
or t
decrease

&£

from
1924

DISTRIBUTION MOVEMENT-Contd.
Chain stores:
J. C. Penney Co
thous. of dolls..
7,140
Number of stores
590
United Cigar Stores Co
thous. of dolls. _
6,378
Number of stores
_
2,656
A. Schulte (Inc.)
thous. of dolls..
2,041
Number of stores
_
263
Owl Drug Co
thous of dolls
1,306
Number of stores
_
85
Magazine advertising (for
following month)
thous. of lines..
2,392
Newspaper, advertising
thous. of lines.. 109, 142
Postal receipts, 50 selected
cities
_
thous. of dolls.. 27, 455
Postal receipts, 50 industrial
cities
thous. of dolls..
2,873
Money orders:
Domestic paid (50 cities)—
Quantity
number
10, 486
Value
thous. of dolls
78, 573
Domestic issued (50 cities) —
Quantity.,
number
3,014
Value
thous of dolls
30, 230
Delinquent accounts, electrical trade:
Amount
dollars
228, 827
Number of
firms
number..
1,774
Hardware trade:
Sales index
139
Outstanding accounts (number of times
sales)
1.8
Internal-revenue taxes collected:
Firearms and shells
thous of dolls
297
Jewelry, watches, and
clocks
.
thous of dolls
455
Theater admissions
thous. of dolls
1,844
Bonds and stocks issued and
conveyances
.. thous. of dolls
2,612
Capital stock transfers
thous. of dolls. ,
910

7,022
591

5,965
2,690

1,913
265
1,455
85

2,232

5,881
593

6,481

6,020

5,627
500
5,914

2,508

2,731
1,965
266
1,418
85

1,766
250
1,390
85

4,748
501
5,741

5,301
544
6,201

1, 800
251
1,439
84

1,903
254
1,501
84

2,495

2,529

-16.2 +23.9
+0.3 +18.4
+0.9 +4.9
+1.5
+9.5
+2.7 +9.2
+0.4 +6.0
-2.5 -1.5
0.0 +1.2

+20.7

34, 417

41, 552

41,239

40, 726

-1.2

12,306

13, 310

+8.2

9, 674

9,479

-2.0

+7.7

13, 015
671, 869

12, 801
680, 492

-1.6
+1.3

96, 012

82,044

85, 660

2,212
97, 409

1,658
76, 188

1,408
77, 051

26, 987

25, 707

25,085

23, 524

22,728

22,545

-4.7

+13.1

177, 843

191, 232

+7.5

2,833

2,888

2,794

2,433

2,597

2,565

+1.9

+11.2

19,036

20, 572

+8.0

11, 933
80, 682

9,763
74,469

10, 659
77, 450

9,712
72, 940

9,064
69, 552

-18.2
-7.7

+0.5
+2.1

73, 765
581, 808

78, 843
548, 645

+6.9
-5.7

3,127
30, 840

2,861
29, 361

28, 405

28, 018

2,724

2,591
27, 210

-8.5
-4.8

+5.0
+4.8

20, 818
207, 792

21, 928
214, 286

+5.3
+3.1

209, 783
1,678

193, 346
1,490

197, 117
1,583

209, 834
1,642

196, 454
1,550

-7.8
-11.2

-7.9
-9.3
+13.3

2,894

-14.5

141

145

123

128

128

+2.8

1.9

2.0

2.0

2.0

2.1

+5.3

0.0

289

445

265

321

471

+54.0

+38.6

1,234

1,746

+41.5

675

2,468

561
1,544

1,414
6,211

1,588

893
3,198

-16.9
-37.5

-64.7
-75.2

14, 970

47,409

5, 490
14, 801

-63.3
-68.8

2,761
1,330

2, 599
1,111

3,016
536

2,405
629

1,866
814

-5.9
16.5

+8.1
+76.6

24, 494
5,113

18, 202
8,914

-25.7
+74.3

214, 633
734, 531
121
949, 285

205,466

188, 335
595, 545
114

783,994

174, 284
609, 703
71
784, 058

-2.4 +14.0
-6.8 +23.3
-24.4 +6.1
-5.9 +21.1

1, 422, 646
4, 845, 650
748
6, 269, 044

1, 475, 273
5, 368, 654
988

6,844,015

+3.7
+10.8
+32.1
+9.2

976, 949
27, 785

893, 164
13, 217

801, 758
17, 878

798, 815
14, 828

-6.1 +21.9
-13.8 +55.4

6, 391, 709
123. 413

7, 061, 690
217, 763

+10.5
+76.5

653, 273
182, 991
54, 973
891, 237

573, 508
154, 495
21, 519
749, 521

536, 897
135, 015
31, 343
703, 255

484, 966
141, 525
22, 949
649, 439

+0.2
-7.6
+15.5
-0.7

+21.7
+35. 5
+75.4
+26.7

3, 923, 982
1, 101, 906
201, 721
5, 227, 607

4, 444, 349
1, 314, 445
354, 632
6, 113, 428

+13.3
+19.3
+75.8
+16.9

125, 554
36, 665

3,375

113, 019
30, 758

99, 417
32, 530

165, 593

107, 888
32, 744
2,281
142, 913

146, 656

134, 286

+3.1
-3.5
+3.4
+1.6

+11.1
+19.2
+17.2
+12.9

774, 427
218, 581
17, 128
1, 010, 136

+11.8
+15.1
31,817 +85.8
1, 148, 836 +13.7

8,974

8,046

8,115

8,164

+0.9 +10.6

3,633

3,120
1, 396
1,724

3,162
1,416
1,745

3,195
1, 425
1,770

+1.3 +14.9
+0.5 +6.4
+1.9 +21.8

3,666

3, 413
1,111
1,845
360
96, 536

3,424

1,103
1,855
370
96, 640

3,440

1,038
1,983
538
106, 225

1,098
1,869
376
97, 158

+0.5 +7.1
-1.0
-5.9
+0.5 +6.9
+3.3 +45. 4
+9.9
+1.4

1,075
599, 364

996
516, 630

1,004
525, 897

1,007
522, 792

+0.8
+1.3

+7.1
+14.0

687, 775
288, 206
143, 277
106, 117
81, 108
69, 067

515, 271
208, 688
113, 596
73, 178
72, 375
47, 434

591, 346
232, 179
125, 260
97, 648
73, 245
63, 014

508, 389
189, 574
112, 012
82, 024
68, 203
56, 576

-0.2
+7.2
-2.9
-7.3
-8.6
-1.2

+16.3
+24.1
+14.4
+8.7
+10.7
+9.6

4, 160, 675
1, 708, 652
903, 772
622, 713
510, 983
414, 555

4, 696, 071
1, 930, 914
997, 816
736, 586
569, 345

6,226

BANKING AND FINANCE
Life Insurance
(Association of Life Insurance Presidents}
Policies, new (45 companies) :
Ordinary
number of policies
241, 349 219, 984
Industrial
number of policies
882, 325 788, 352
Group __
number of contracts
143
160
Total. ..number of policies and contracts.. 1, 123, 817 1, 008, 496
Policies and certificates issued:
Total policies and certificates
number.. 1, 146, 899 1, 040, 572
Group insurance certificates. ..certificates. . 23, 225
32, 236
Amount of new insurance (45 companies) :
Ordinary
thous. of dolls
722, 962 651, 674
Industrial
thous. of dolls
217, 735 198, 113
Group
_
-thous. of dolls
39, 106
47, 606
979, 803 897, 393
Total insurance
thous of dolls
Premium collections (45 companies):
Ordinary
thous of dolls
127, 080 121, 806
Industrial
_,
_ thous. of dolls
36, 573
37, 977
Group ._ ..
thous. of dolls
3,263
3,586
Total
thous of dolls
167, 240 163, 046
Admitted life insurance assets (41 companies):
8,892
Grand total
mills, of dolls..
8,825
Mortgage loans3,542
Total
..mills, of dolls..
3,586
1,492
1, 500
Farm
mills of dolls
All other.
.
mills, of dolls
2,050
2,086
Bonds and stocks (book values)—
3,624
3,647
Total
. ..
mills, of dolls
1,055
Government
mills, of dolls _,
1,048
1, 960
1,974
Railroad.,
mills, of dolls
521
506
Public utilities
mills of dolls
103, 539 104, 761
All others
mills of dolls
Policy loans and premium
1,057
1,066
notes
mills, of dolls
602, 448 591, 747
Other admitted assets
mills of dolls

1,507
2,126

674, 481
99
880, 046

2,879

2,339

865, 504
251, 517

(Life Insurance Sales Research Bureau)
Sales of ordinary life insurance
United States total
Eastern manuf. district
Western manuf. district.,
Western agric. district
Southern district
Far Western district.

(81 companies):
thous. of dolls
thous. of dolls..
thous. of dolls.
thous. of dolls..
thous. of dolls
thous. of dolls..




732, 952
297, 740
153, 845
116, 235
92, 963
72, 169

689, 450
268, 753
147, 592
114, 415
88, 774
69, 916

+12.9
+13.0
+10.4
+18.3
+11.4
461,411 +11.3

42
TREND OF BUSINESS MOVEMENTS—Continued
1

Where available, August data have been
included in this table. The cumulative* shown are in most instances,
however, only through July, and where
designated by a footnote through June.
Detailed data for items shown here
may be found on pages 29 to 151 of the
August, 1925, "Survey."

**

1925

May

BANKING AND FINANCE—Continued
Banking
Debits to individual accounts:
New York City
. mills, of dolls
26, 176
Outside New York City
mills, of dolls.. 20, 397
Bank clearings:
New York City
mills, of dolls.. 23, 847
Outside New York City ....mills, of dolls..
17, 103
Federal reserve banks:
Bills discounted
mills, of dolls..
414
Notes in circulation
mills, of dolls .
1,671
Total investments,.
mills, of dolls
640
Total reserves
_
mills, of dolls . _
2, 982
Total deposits
mills . of dolls ..
2,202
Reserve ratio
percent
77.0
Federal reserve member banks:
Total loans and discounts... mills, of dolls.. 13, 108
Total investments...
mills, of dolls..
5,485
Net demand deposits.. . .mills, of dolls
12,645
Interest rates:
New York call loans
per cent
3.95
Commercial paper 4-6 mos
per cent..
3.88
Savings deposits, by Federal reserve districts
(balance to credit of depositors):
Total, 846 banks
thous. of dolls 7, 497, 371
Boston, 64 banks..
thous. of dolls.. 1, 314, 076
New York, 30 banks ---thous. of dolls.. 2, 079, 086
Philadelphia, 78 banks. thous. of dolls. _ 522, 105
Cleveland, 18 banks
thous. of dolls.. 517, 774
Richmond, 91 banks .. -thous. of dolls __ 347, 148
Atlanta, 96 banks
thous. of dolls _ _ 242, 128
Chicago, 209 banks
thous. of dolls.. 941, 509
St. Louis, 32 banks
thous. of dolls.. 159, 127
Minneapolis, 15 banks..thous. of dolls.. 96, 672
Kansas City, 56 banks..thous. of dolls.. 107, 908
Dallas, 85 banks
thous. of dolls_. 72, 789
San Francisco,72 banks.thous. of dolls. .1, 097, 049
U. S. Postal Savings
thous. of dolls.. 132, 880
New York State Savings
banks..
_ _
_ ..thous. of dolls __ 3, 464, 585

June

July

26, 930
21, 681

25, 458
21, 559

24, 019
18, 244

23, 396
18, 570

455
1,634
579

468
1,598
553

2,959
2,210
77.0

PER CENT INCREASE (+) OR
DECREASE (— )

1934

2,937

2,201
77.3

23, 265

19,847

580
1,616
547

2,888
2,237

June

July

21, 926

18,304

21, 469
18, 662

20, 916

17,776

19, 959
15, 360

August

21, 127
16, 333

20, 342
15, 344

350
1,844
476

294
1,762
531

263
1,741
593

.3,271

75.0

2,108
82.8

August

July,
1925,
from
June,
1925

July,
1925,
from
July,
1924

CUMULATIVE TOTAL
F R O M JAN . 1
THROUGH JULY 31

Per
cent
increase
(+)
or decrease
(-)
1925
from
1924

1924

1925

-5.5 +18.6
-0.6 +15.5

149, 001
130, 349

179, 500
146, 296

+20.5
+12.2

-2.6
+1.7

140, 593
111, 526

165, 238
123, 586

+17.5
+10.8

+10.7
+13.7

3,260

3,202

2,150
82.3

+2.9 +59.2
-2.2 -9.3
-4.5 +4.1
-0.7 -9.9
-0.4 +1.7
+0.4 -6.9

2,165
83.0

13, 205

13, 217

12, 265

12, 815

13, 375
5,471
12, 755

12, 142

12, 725

11, 837

12, 233

12, 434
5,091
12, 419

+0.1 +7.8
0.0 +10.4
+0.7 +4.8

4.07
3.88

4.30
3.93

4.31
4.00

2.25
3.91

2.10
3.53

2.00
3.25

+5.7 +104.8
+1.3 +11.3

7, 611, 975
1, 322, 249
2, 108, 961
519, 162
530, 948
355, 723
252, 304
953, 861
160, 522
98, 136
108, 727
75, 068
1, 126, 114
132, 186

7, 542, 166
1, 324, 310
2, 098, 522
520, 609
518, 577
352, 398
242, 696
933, 901
155, 878
97, 975
107, 769
73, 624
1, 115, 907

7, 089, 775
1, 256, 624
1, 981, 700
488, 816
467, 618
315, 352
234, 474
916, 257
138, 550
90, 892
111, 942
68, 035
1, 019, 515
132, 655

7, 070, 720
1, 256, 927
1, 974, 972
489, 816
479, 171
317, 903
228, 026
902, 603
138, 176
90, 656
108, 921
66, 824
1, 016, 725
132, 915

7, 087, 421
1, 261, 004
1, 977, 476
490, 950
480, 963
322, 551
229, 159
901, 674
138, 576
90, 772
109, 229

-0.9 +6.7
+0.2 +5.4
-0.5 +6.3
+0.3 +6.3
-2.3 +8.2
-0.9 +10.9
-3.8 +6.4
-2.1 +3.5
-2.9 +12.8
-0.2 +8.1
-0.9 -1.1
-1.9 +10.2
-0.9 +9.8
-0.4 -1.0

5,505

5,506

131,610

3, 517, 264 3, 502, Oil

4,827

4,987

66,811

1, 018, 256
133, 929

3, 267, 717 3, 267, 064 3, 261, 053

-0.4

+7.2

Public Finance
Government debt:
Interest-bearing
Total gross debt
Short-term debt
Customs receipts
__
Total ordinary receipts
Expenditures chargeable to
ordi nary receipts
_
Money in circulation:
Total
Per capita
_

.mills, of dolls..
mills, of dolls..
mills . of dolls. _
thous. of dolls..
thous. of dolls. _

20,603
20, 899
6,646
42,004
166,834

6,254
44,544

614, 992

20, 199
20, 487
6,241
45, 156
194, 945

thous . of dolls. . 234, 116

20, 211
20, 516

43, 276
601, 580

21, 254
8,081
43, 945
195, 704

20,981
21,245

49, 114
219, 915

8,072

8,071
45, 621
185, 763

-0.1 -3.7
-0.1 -3.6
-0.2 -22.8
+1.4 +2.8
-68.3 -0.4
-41.3 +18.1

20, 166
20, 447

20, 982
21, 251

20,991

418,349

245,593

214,208

288, 055

207, 995

196, 892

4,774
41.89

4,734

4,720

41.49

41.31

4,784
41.84

4,755
42.20

4,665
41.36

4,774
42.28

-0.3
-0.4

+1.2
-0.1

37, 027

36, 701

34,505

37, 159

34,099

36, 813

55,154

-6.0

18,184
15,820
3,023

16, 159
17, 213

3,329

10, 932
15, 961
7,612

22, 339
13, 460
1,360

16, 646
14, 810

20, 022
12, 421

29, 924
16, 361

1,767
400
1,286
81

1,745
431
1,229
85

1,685
418
1,184
83

1,513

1,607
439
1,054
84

1,615
416
1,124
75

1, 520
414
1,024
82

...thous. of dolls..

323, 100

437, 900

212, 590

318, 775

400, 050

199,075

315, 265

-51.5

thous. of dolls..
thous. of dolls..
thous. of dolls
thous. of dolls..

68, 600
40, 650
23, 450
4,500

115, 200
58, 915
30, 510

83,690

107, 750
55, 300
29, 350

80, 575
44, 500
31, 250

62, 265

41,500

10,900

46, 300
32, 275
5,115

67, 525
44, 900

4,825

16, 250
4,515

-27.4
-21.4
+5.8
-53.1

260, 925
34, 947

311, 531

348,377

74, 682

252, 854
63, 221

232, 994
46, 184

194,987
92,862

77, 521
218, 351

106, 172
273, 097

160, 637
262, 422

30, 884
285, 191

39, 876
239, 302

247, 462

208,012

321, 115

191, 121

290, 053

185, 463 141, 241 110, 593
38, 505
98, 405
6,465
616. 117 1. 003. 270 1. 066. 860

72, 551

286, 507
52, 391
455. 022

mills, of dolls..
dollars..

Business Failures
Liabilities:
Total commercial
thous. of dolls
Manufacturing
establishments
thous. of dolls, _
Trade establishments
thous. of dolls..
Agents and brokers-.thous. of dolls..
Firms:
Total commercial
number..
Manufacturing establishments
number..
Trade establishments
number
Agents and brokers.. number

2,643

-6.3

341,273

273, 904

-19. 7

-32.3 -45.4
-7.3 +28.5
8,869 +128. 7 +74.2

195, 153
117, 659
27, 860

98,990

-49. 3
+13. 8
+47.4

-3.4 +4.3
-3.0
+0.5
-3.7 +5.3
-2.4 +10.7

12, 400
3,187
8,513
570

13, 105

2,997

9,513
595

+5.7
-6.0+11.7
+4.4-

+6.8

2, 533, 625

2, 696, 065

+6.4

+3.9
+4.0
+3.3
+6.0

714,624
379, 270
213, 945
59, 675

747, 495
394, 805
222, 830
64, 815

+4.6+4.1
+4.2+8. 6

+11.8 +49.5
+10.3 +61.7

1, 942, 795
260, 516

2,478,204
467,326

+27. 6+79.4

34, 292
160, 695

+51.3 +302. 8
-3.9
+9.7

553, 917
1, 649, 395

739, 179
2, 206, 353

+33.6
+33. 8-

275, 834

272, 220

+54.4

+16.4

1, 776, 149

2, 313, 340

+30.2

112, 255
78, 353
572. 19fi

121, 174
71, 955
398. 950

-21.7 -1.5
-93.4 -91.7
4-fi 3 •4-Rfi 5

943, 034
483, 760
4 424 fifift

850, 545
441, 865
R K5& 1fi3

-9. 8v
-8.7
4-9fi 3:

4,370

133, 847
41, 067

Dividend and Interest Payments
( For the following month)
Grand total..
_
Dividend payments'
Total
_
Indus, and misc. corp
Steam railroads
Street railways..

17,250
5,375

9,950

New Security Issues
Total corporation (Commercial and Financial
Chronicle):
Purpose of issue—
New capital
thous. of dolls.
Refunding
thous. of dolls. .
Kind of issueStocks
thous. of dolls
Bonds and notes
..thous. of dolls. _
Total corporation (Journal of
Commerce)
thous. of dolls..
States and municipalities:
Permanent loans
thous of dolls
Temporary loans
thous . of dolls. .
New incorporations
thous. of dolls..




67,737

972. 735

43
TREND OF BUSINESS MOVEMENTS—Continued
0

Where available, August data have been
included in this table. The cumulatives shown are in most instances,
however, only through July, and where
designated by a footnote through June.
Detailed data for items shown here
may be found on pages 29 to 151 of the
August, 1925, "Survey."

1925

PER CENT INCREASE (+) OR
DECREASE (— )

1924

July,
May

June

July

August

June

July

from
June,

from
July,

+0.6
+1.4

(

-y

+10.1

1925

1925,

1924

1925

1925
from
1924

1924

*

BANKING AND FINANCE-Continued
Agricultural Finance
Loans outstanding:
Federal farm loan banks thous. of dolls.. 968,713
Joint-stock land banks
thous. of dolls _. 494, 165
Federal intermediate credit
banks
.thous. of dolls . 59, 979
War finance corporation thous. of dolls.. 30, 877

Per
cent
increase

or decrease

July,

1925,

August

CUMULATIVE TOTAL
FROM JAN. 1
THROUGH JULY 31

975, 175
501, 673

980,638
508,800

881, 273
419, 788

890, 394
423, 147

898, 179
426,467

58, 398
29,222

58, 333
28,043

26, 741

47, 998
63, 781

49, 525
62,509

48, 873
60, 765

0 1 +17.8
-4.0
-55.1

142. 34
79.50
104.68

144. 42
79.57
108. 05

149. 25
80.23
110. 75

156. 96
83.08
112. 71

108. 93
65.07
84.83

113. 53
68.39
88.44

119. 18
71.06
89.85

+3.3
+0.8
+2.5

+31. 5
+17.3

36,464

30,860

32,273

16,803

24,226

22,427

+4.6

+33.2

138, 848

235, 968

+69. 9»

313, 612
25, 186
338,798

243, 516
33,074
276, 590

237, 909
32, 192
270, 101

219, 278
22, 143
241, 421

287, 519
102, 855
390, 374

273, 131
68,014
341, 145

244, 041
62, 231
306, 272

-2.3
-2.7
-2.3

— 12.9
-52.7
-20.8

1, 563, 896
573, 639
2, 137, 535

1, 908, 599
229, 380
2, 137, 979

+22. fr
-60. 0
0.0»

88.91
77.49
71.36
76.15
77.97

88.77
77.79
72.06
77.01
78.46

87.28
76.78
71.05
76.85
77.56

86.00
75.99
70.66
74.27
76.34

85.84
72.49
69.08
73.01
74.59

87.22
73.58
70.93
73.48
75.81

86.09
73.52
71.57
74.14
75.93

-1.7
-1.3
-1.4
-0.2
-1.1

+0.1
+4.3
+0.2
+4.6
+2.3

102. 65

102. 97

102. 14

102. 46

102. 49

102. 97

102. 10

-0.8

-0.8

103. 84
98.15
3.99

103. 50
98.18
4.00

103. 40
97.47
4.07

103. 81
97.71
4.15

102. 05
96.35
4.15

102. 41
96.91
4.14

103.84
96.63
4.12

-0.1
-0.7
+1.8

+1.0
+0.6
-1.7

71, 652
780
4,426
6,712

92, 830
818
10, 204
4,338

87,490
4,862
7,273

65,443
773
25, 181
268

90, 089
829
18, 834
327

92, 132 +29.6
+4.9
810
18, 150 +130. 5
2,397 -35.4

+3.0
-1.3
-45.8

559, 265
5,533
245, 076
4,182

561, 316
5,602
50, 871
195, 274

+0.4
+1.2*
-79.2'

5,481
4,917
8,517
.691

5,831
5,238
8,346
.694

2,136
8, 285
.702

4,903
4,870
8,648
.667

4,936
7,128
9,190
.672

5,426
7,042
8,632
.685

+6.4
+6.5
-2.0
+0.4

+18.1
-26.5
-9.2
+3.3

36, 342
41,647
60, 768

37, 592
37,419
58,857

+3.4
-10.2'
-3.1

2, 128, 184

2, 389, 799

+12. a

+20.2

Stocks and Bonds
Stock prices, closing:
25 industrials, average
dolls, per share..
25 railroads, average
dolls, per share..
103 stocks, average
. dolls, per share..
Stock sales:
N. Y. Stock Exchange
thous. of shares..
Bond sales:
Miscellaneous
thous. of dolls
Liberty- Victory,
thous. of dolls. .
Total
thous. of dolls..
Bond prices:
Highest-grade rails .p. ct. of par, 4% bond..
Second-grade rails. .p. ct. of par, 4% bondPublic utility
.p. ct. of par, 4% bond..
Industrial
p. ct. of par, 4% bond..
Comb, price index..p. ct. of par, 4% bond..

+25.2

(For 1st of following month")
5 Liberty bonds
..p. ct. of par..
16 foreign governments and
city
p. ct. of par..
Comb, price index, 66 bonds. .p. ct. of par..
Municipal bond yield
.per cent..

GOLD AND SILVER
Gold:
Domestic receipts at mint fine ounces.. 70,438
Rand output
thous. of ounces813
Imports
thous. of dolls
11, 393
Exports
thous. of dolls.. 13, 390
Silver:
Production
thous. of fine oz_.
5,225
Imports
thous. of dolls
3,390
Exports
thous. of dolls.
6,536
Price at New York
dolls, perfineoz__ .676
FOREIGN EXCHANGE RATES
Europe:
England
France
Italy
Belgium
Netherlands
Sweden
Switzerland
Asia:
Japan
India
Americas:
Canada..
Argentina
Brazil
Chile

dolls, per £ sterling..
dolls, per franc..
dolls, per lire..
dolls, per franc..
dolls, per guilder..
dolls, per krone
dolls, per franc..

4.85
.052
.041
.050
.402
.268
.194

4.86
.048
.038
.047
.401
.268
,194

4.86
.047
.037
.046
.401
.269
.194

4.86
.047
.037
.045
.402
.269
.194

4.32
.053
.043
.046
.374
.265
.177

4.37
.051
.043
.046
.379
.266
.182

4.50
.055
.044
.050
.388
.266
.188

0.0 +11.2
-2.1 -7.8
-2.6 -14.0
-2.1
0.0
0.0
+5.8
+0.4
+1.1
0.0
+6.6

dolls, per yen..
dolls, per rupee..

.419
.362

.408
.365

.411
.366

.410
.366

.411
.305

.414
.313

.413
.323

+0.7
+0.3

-0.7
+16.9

1.000
.902
.103
.114

1.000
.913
.109
.113

1.000
.918
.114
.117

1.000
.917
.121
.119

.984
.739
.108
.106

.993
.741
.099
.101

.999
.767
.099
.100

0.0
+0.5
+4.6
+3.5

+23.9

327, 416
Grand total
. thous. of dolls
By grand divisions:
Europe92, 097
Total
thous. of dolls
France
thous. of dolls
10, 405
Germany
.thous. of dolls
9,514
Italy
thous. of dolls
8,514
United Kingdom
thous. of dolls.. 31, 575
North America—•
Total
thous. of dolls.. 89, 132
Canada
thous. of dolls
37, 560
South America32, 848
Total
thous. of dolls
Argentina
thous of dolls
3,823
Asia and OceaniaTotal
thous. of dolls
108, 585
22, 567
Japan
thous. of dolls
Africa, total
thous. of dolls
4,753
By class of commodities:
Crude materials
thous. of dolls
135, 737
Foodstuffs, crude, and
food animals
thous. of dolls _ 34, 168
Manufactured foodstuffs thous of dolls
39, 896
Semimanufactures
thous. of dolls
56, 206
Finished manufactures
thous. of dolls. _ 60, 892
Miscellaneous
thous. of dolls. .
517



325, 167

325,999

274, 001

278, 594

254, 542

+0.3

+17.0

88, 702
10, 016
15, 247
9,206
26, 644

93, 069
9,841
13, 820
7,036
33, 196

80, 175
9,393
10, 511
4,832
24, 482

82, 071
10, 725
12, 527
5,049
23, 053

79, 923
11,060
11, 886
4,108
25, 877

+4.9
-1.7
-9.4
-23.6

+13.4
-8.2
+10.3

+39.4
+24.6 +44.0

602, 290
81, 681
75, 829
39,056
196, 354

687, 692
85, 040
82, 636
60, 984
232, 065

85, 234
37, 320

76, 188
38,915

80, 025
33, 037

80, 782
32, 123

70, 051
30, 279

-10.6
+4.3

-5.7
+21.1

635, 634
232, 211

595,894
247, 916

+14. 2
+4.1
+9. 0
+56. 1
+18. 2
-6.3
+6.8

37, 022
5,799

41, 487
5,249

38, 368
7,108

41, 368
6,494

34, 433
4,277

+12.1
-9.5

+0.3
-19.2

272, 863
50, 023

302, 555
51, 551

+10. 9
+3.1

107, 514
24, 215
6,694

111, 992
32, 133
3,263

70, 599
21, 825
4,834

71, 425
26, 763
2,947

67, 374
29, 613
2,848

+4.2 +56.8
+32.7 +20.1

570, 409
177, 553
46,989

744, 903
185, 217
58, 755

+30. 6
+4. 3.
+25.0-

129, 664

124, 431

88,682

89, 180

83, 630

35, 738
37, 688
59, 072
62, 434
571

42, 366
34, 231
58,983
64, 836
1.152

34, 189
41, 774
48,366
60, 575
414

39, 130
42, 495
44,909
62,144
736

+31. »
+12. 4
-21. 9
+15. T
+4.9+8.1

dolls, per Canadian doll..
dolls, per gold peso..
dolls, per milreis
dolls, per paper peso. .

+0.7

+15.2
+15.8

U. S. FOREIGN TRADE
Imports

-51.3

+10.7

-4.0

+39.5

717,634

946, 495

31, 480 +18.5
-9.2
30, 400
0.2
47, 211
60, 128
+3.8
1.781 +101. 8

+8.3
-19.4
+31.3
+0.5

243, 659
357, 716
377, 335
422, 847
9.263

273, 829
279, 198
436, 623
443, 645
10. 009

+56.5

44

TREND OF BUSINESS MOVEMENTS—Continued
*

Where available, August data have been
included in this table. The cumulatives shown are in most instances,
however, only through July, and where
designated by a footnote through June.
Detailed data for items shown here
may be found on pages 29 to 151 of the
August, 1925, "Survey."

1925

PEE CENT IN- 1 CUMULATIVE TOTAL
F R O M J A N . 1
CREASE (+) OR
THROUGH JULY 31
DECREASE (— )

1924

( }

July,

May

from
June,

from
July,

1925,

June

July

August

June

July

August

1924

1925

or t
decrease
(-)
1925
from
1924

July,

1925

U. S. FOREIGN TBADE-Contd.
Exports
Grand total, including
reexports
thous of dolls
By grand divisions:
EuropeTotal
thous. of dolls
France
thous of dolls
Germany
thous. of dolls..
Italy
thous of dolls
United Kingdom
thous. of dolls. _
North AmericaTotal
thous. of dolls
Canada .
._
.thous. of dolls
South AmericaTotal
thous of dolls
Argentina..
thous. of dolls. _
Asia and OceaniaTotal
thous. of dolls
Japan
.
_. thous. of dolls
Africa, total
thous. of dolls
Total, domestic exports only... thous. of dolls..
By classes of commodities:
Crude materials
.
thous. of dolls
Foodstuffs, crude, and
food animals
..
.thous. of dolls
Manufactured foodstuffs... thous. of dolls..
Semimanufactures
thous of dolls
Finished manufactures
thous. of dolls..
Miscellaneous
thous. of dolls. _
Agricultural exports (quantities):
All commodities
index number..
All commodities except
cotton
index number

Per
cent
increase

1925,

1924

371,420

323,150

339, 629

306, 989

276, 649

330, 660

+5.1 +22.8

2, 366, 372

2, 703, 036

+14.2

175, 785
20, 531
28, 727
14, 022
62, 990

144, 412
15, 205
22, 434
11, 765
57, 202

155, 027
14, 402
23, 588
12, 268
57, 738

141,975
21, 321
18,027
12, 045
51, 795

125, 948
13, 179
12, 836
8,042
56, 596

156, 349
20,600
19, 281
13, 225
65, 725

+7.4 +23.1
-5.3
+9.3
+5.1 +83.8
+4.3 +52. 5
+0.9 +2.0

1, 183, 146
141, 509
218, 118
92, 400
452, 533

1, 426, 722
149, 696
252, 442
129, 109
535, 691

107, 471
66, 817

96,002
59, 767

101, 556
62, 596

84,929
48, 274

83,358
45, 167

94,513
50,348

+5.8 +21.8
+4.7 +38.6

579, 657
324, 823

650, 394
366, 121

35, 690
12, 263

31, 192
10, 936

32,275
11, 977

25, 860
8,987

23, 362
8,778

30, 536
12,399

+3.5 +38.2
+9.5 +36.4

170, 737
61, 491

225, 807
82, 461

44, 911
8,133
7,362
362, 757

45, 110
9,722
6,434
315, 397

44, 896
10, 947
5,876
331, 647

48, 897
9,563
5,328
299, 160

39,025
8,423
4,956
270,598

43, 375
9,630
6,123
325, 065

-0.5
+12.6
-8.7
+5.2

+18.6

+22.6

392, 658
137, 979
40, 174
2, 310, 253

352, 044
106, 625
48, 068
2, 651, 894

65, 640

52, 217

56, 340

62, 387

55, 863

62, 913

+7.9

+0.9

608, 184

676, 125

+20.6
+5.8
+15.7
+39.7
+18.4
+12.2
+12.7
+32.3
+34.1
-10.3
-22.7
+19.6
+14.8
+11.2

33, 626
41, 161
58, 938
163, 057
335

21, 879
43, 017
54, 348
143, 670
266

22,555
43,339
57, 802
151, 099
512

15, 014
34, 035
50, 461
136, 936
327

12, 821
37, 220
46, 251
118, 123
320

31, 596
44, 534
47, 176
138, 369
477

+3.1
+0.7
+6.4
+5.2

+75.9

+92.5

+25.0
+27.9
+60.0

94, 519
312, 822
355, 820
935, 598
3,310

83

68

66

71

67

92

-2.9

-1.5

133

118

117

124

117

162

-0.8

75, 592
94, 319

81, 492
103, 280

66, 396
88, 328

72, 631
88,221

61, 970
74, 822

999
8,721

2,492
25, 660

2,855
3,214

2,079
19, 929

4,947 +149. 4
18, 616 +194. 2

46
63
1,186

21
21
1,273

57
69
1,210

45
52
1,404

23
23
1,202

-54.3
-66.7
+7.3

2,204
157

2,504
154

1,170
149

1,931
137

1,145
128

11, 296
6,468
13, 892

None.
2,032
3,400

19, 750
7,476
4,125

42, 036
6,598
24, 860

21,000
4,306
2,575

124, 209
127, 141
23, 965
114, 653
33, 229

121, 664
122, 305
23,258
107, 767
22, 179

108, 321
113, 866
15, 272
95, 717
26, 185

114, 133
110, 485
18, 840
105, 133
23, 818

114, 417
112, 802
20, 380
94, 486
26, 664

,

+15.0

+30.0

+16.4

194, 725 +106. 0
322, 906
+3.2
403, 019 +1S.3
1, 050, 796 +12.3
4,323 +30.6

0.0

CANADIAN TRADE AND INDUSTRY
Total trade:
75, 895
Imports
. thous. of dolls. _
97, 475
Exports
thous. of dolls
Exports of key commodities (quantities) :
2,019
Canned salmon
thous. of pounds..
3,372
Cheese
thous of pounds
Production:
63
Pig iron
thous of long tons
100
Steel ingots
thous. of long tons
1,290
Bank clearings .
mills, of dolls
Business failures:
6,108
Liabilities
thous of dolls
163
Firms
number
Bond issues:
3,500
Govt and provincial
thous of dolls
7,544
Municipal
thous. of dolls. .
5,885
Corporation
thous. of dolls
Newsprint paper:
130, 013
Production
short tons
Shipments
. short tons.. 128, 386
Stocks
short tons
26, 848
115, 766
Exports (total printing)
short tons
34, 052
Building contracts awarded
thous. of dolls..




31, 208

+7.8 +12.2
+9.5 +17.1

486, 914
563, 680

496, 528
598,834

+2.0
+6.2

+19.9

+28.8

26,894
30, 227

28, 669
48, 912

+6.6
+61.8

-53.3
-59.6
-9.3

473
539
8,926

312
444
8,562

-34.0
-17.6
-4.1

+13.6 +29.7
-1.9 +12.4

27, 760
1,400

23, 917
1,287

-13.8
-8.1

98,511
57,826
103, 816

87,442
32, 797
115, 417

-11.8
-43.3
+11.2

793, 276
788, 395

868, 108
865, 805

+9.4
+9.8

- 710, 418
152, 540

784, 990
147, 723

+10.5
-3.2

-68.6
-75.5

-69.2
-86.3

-2.0 +6.6
-3.8 +10.7
-3.0 +23.5
-6.0 +2.5
-36.3 -6.9

^

THE DEPARTMENT OF COMMERCE

Decent pubMe^tlpns p^&| p,0par^Aent 4f (^miaeree kaving the niosfrdifeet interest, to readers o| the SfeijvEY OF CWSiabr*1^ '
BUSINESS are Hst^^b^om A cp^leteJl^t ia&y be^obt,araed by addressing the Biyisixm <olPablicatiq4s, Bepartiaeht- \0f^€oiom^ee/ ' "
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