Full text of Survey of Current Business : September 1925
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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/ ' " : at Washington. V ' ^ ^ - CtotHe&'jOf tM6 BubEektioira-tt&v hft Wrrnh&ftfirl ffom th« Rnrmrtnf.Afid«nf. rvf T*<Wtrnbn+.a '<fi*viy**««r>TV^T** T»*aV»4^««. * V ' - ' - ' **'" ' •« " ; Simplified Praicti^e Recommendations: \ . < •".»•' No. 1;,Pa^fcg Wi&s^;v^{^>e^bn, £&$>•!/, i&^ J Vi > ^ ° «• * Prioe) #. eeiit&'V. > * > ' ' ; ,*; - *•-«'>* -* / * v « ' > • ' ' '• ' ; /Bl}B^0^^'|Sffi '^EN^tJS r -X'.:'.''v'.v: ," * ~ ,» ^ -.*•'•. * ^ j* >\> - '{ t . v "t'x -j - - *' P ^ A HofrJ^ire Anemometer for .Carl GK E, ,7 .v sf rec^tly givingJi^o^^p^^3ff^i3iag t&£ laBo^iag'mdiigtrfe^\" ^viepokted ^t the.^eQl^^^^^^u^^^^r4 -<]^fe1l&c^ ^««.^«^^-n ^^^.e^n^a^&^^e^uiabelr &^jltolBaie^fer^^J CP-cAlJ* "'•^^ .V* 4t -.^1. --.S.. . '»T- v 'l^W 1~% ', ^and.Jripaet^^iA^p^iN^^ , ' - *" . ~' ! •; * "tt?,, r^?\0^rn sirup, .eorticp* t -. United$q^^viseafal^ /*<?»»/i*lf«'»« I>*-.%.tv>s'^.1 «xi«'yj« .^DV. "*-«>'Q^> /Wv^4-tC^v,^l^' 1>S** -A^WS—J^.^1 . '" } . ^" ' "' ;:>^a^ packin ^tAfetf,of">l^ :^f:r^c; ibiitk'rates 'fof 5^*7 W * t &\': ,.v^ extent to wfcidi t^ej rogistr^tion.; area J^il,A&iCJe^^ft2> tfir^iiig^ Ke^j0ss4^f births < Efeaillis,; th^Tfelaa<si'^Step:°tfie,l3irth-r£^fe itea..-%jieVsi«iSl - t , , . p ; ; 273. i-' , Price, 50. \ \-'\, * - , \ ' Ho, ^V^|;f.5tojKEAtfOT'ftf^ Tons ! -\ ^ - TUT ^«1 *til» >C!« «^«MI wwc ^^^xl^^ftjN-ui^i^^i^- ^ I-TUW YT^i* ^ JL *>& t£ #-2~' fr/>( 0 ^ivion^SiawteBr^^fl^k^ *^ M : : ; |%f ^ Julie, 1924 and 19|§A ^ad jfe tfee\ 12 mcMitte %ded toe, t$M J*;^; r' * 4-, *ui«)&« TviinW'f.'hltr 'o \ti«T»ttrt>£»4^n*\Ait«4?' «lfk*4' "'iv'Vi^^vSfc i^-»4/»A2p«^'«rfr*t f,f«».-l4*»rf' s\£"^ %bd/192^.;\^aH^^«^C^ ^ve^^ited^mpM," ^'C:?.' i fo$b rfeade; iapBitiay;av^^ &l KcST^V A tetuiti !in cotMn anrl ^ v 1 J o Service Bidl^, August -< Hof s r be . _, , *a&tofrStt. .. _, . - , - - v^ ^ ' - s r - - - . . .... 4J^tlN|*«B^Fto.?'\^" •'- , V* ':'-: -' ^-" •-' <f - 1 ^- 1 "^" ' * " * ' \'i^B^lI:^|S^^ r'-:'v<^'t •&*••<' ' , , J—t^TT 7T—'7"»T TT5T ^£—' *C^-»>"<r T r ^ « 3^ -—jv^;—V~~T« ^4-T * yT E^" jC<* » ^5T^- SiS^..,-'Istott<ls,-,by -Ct R -.%^^^r.ilC*z!^;;^pf.'Buslitf(a%"itHa « >K!VS ^'M*tk' Bi%ldw4n^-l^si^:<^»&tfi>4;*^es*'5!y»;'1?-; •'^'J^gefi* '•'.' . , , Offers: Aja Important He^ftlt foo " •88- reei|^s ^dr |^psii|rg ^st^rs for t&bfe ikel,^ ,^^ 5^*: " !t sV ,-; r Gommefcial Surrey of ft .^ewe'^ri^:1^ 1<; -130 ? , . , „ [^IMr, f^ce.-^V--. •" ; ties ^S^^itelsall^M-. * f^;V^ nishes, by'-Gei^' £t^|M<j^ jt^^^^ _ V ,- . v r * f*x\ 4 ^m jLiLtfik,rf^i^iriTTiiiwrfr^i"jQft]lfmj{il| ^ Atlantic l »*""' x ",, ^ > <'',/ . -*' i"' of: *'^ ^;No. % 27 p^f« eS^f%^i^:^;M^%,;; - r -?;. f " ^4 v;/( ^tVoWtntmfi S^rf^ Ma: itti ^^%^^e taitakfcra&ftikc Sdfeiei^^ - <s - ne iteiiil ^w|^%«^^ i$ ra^3^fera^ip5.L\Stiye0te. „ ^ 4'>|&Dtl^^&^C^^ial^' fee^^ ^ Ihtgaiier, 1fi|fc ffcfe ; indu^tri^ In Vq@|ufM^4EM^ ^^IfW^fcV^Uttp^r, " "*" ^jM|bV v^> VV^X;>\- % ;f v ,^C ' '{)h, • # v ' * , r'\ s index, fj^e Earth's Magnetism, by;Baiie :siBte$i^3 &(a^i6attjSl^^^iNi ^if ^ffti^jt'^pjijlfiaii. i^g^tfe' Ii3fepS* ( : 1. Argentina, % Ir^a^lM f and Washington (seventeeath district)/'" \r. ame 25. .^^JB|.'*-1 v^\ *;^ ^ ,;^ '^ ; ^V' j^^^^^S^^^p^l' ;^?^ 4^^^^^»?^ 'It^^d^^^A^r^;; -: ^ \;;; ^ - ;;,:-;^ A;Y: V: ^J''*^ v•'-" V-,^ "''^ S^:;^V '^vT 1 ^V';'^;^'^•':fe^ ^V-" •''-' "'>",'- ,; >v.' ' "^^'^^ y'.^V'^J^ Is',*? "t" 1 ^'' 1 ** s v«,'-* 4 "\'^^''*••*- ^^ *'*/, r',^'' ,*-.*-*' v<v ' j ^ " ' ' r ^ ' ^ ^ v " » / » '^s'T '-r^** 1 " 1 '',«*•'-, >~ ~^ ^'•*"+ v """'ir.j*' 1 ~*^vT*'"-/'x/v* x ^- *''- V? " M'*> 4' ^ ' i ercas America^ people have J t t t ^ ; economic ^situatioii^iiii^j^ agriculture has shown sbnie parUal recovery rronl its ^^t^^ / f :#fiues' * of extreme difficulty. :- <pi|it^ Irid^s^i^f.i^^kjcil^tt^ *. , ;Aj«ms, only about 5 per*^nt te'ss t%*W:te;$1^£ tke ,^:V 'ieooird ye&r in/tHe history of t £ \ i i k ' greater than in ^ t r i fffifa^jj^^ IhmJ «&&?& i&^V'^^^ <x$i&tio!$.' \ 1 /s i;;i»1 :1 : a|$^m^i'to^^^MrfJo<to 1 9»P^ :X^ , * » '^»*kit i-iWri^ii**^* ^^^Ki«f«»ftf»4^^W&.'t»«r*ri-'l*l:o'4>.fA-n""4"^ST>j'f <«/\'n?»**\*tri'i*»oriirwv-» 'liw^ia^j^iik" - ^ . &^ijte^^ - , ^--^A UXXefr^fl 1 A iioi: of^ budas, fects ^g^ae^^.^^ltidy.of |he duMaadi^ Md]^^i4l ^ ^ ^?1 /; ^ \ &^^&^^ ' **' ^v <! -;: : ^c -1 * F^c^^fleni^w^M^*^ <l9* /-- * ^;^: ^'*r.5^Vv> *' ; i>•'/'"/ /IV^."'/ ;f-,«":*"^*-V: i T^ ' .;1:} \