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:v - . UNITE!) STATES ...-;•;;.; ,:
±)pPARTMEHT OF COMMERCE
"' V ' ' .".-'-.

• '- . :WASHINGJON

:

* f:'•:%.''••

,1927

BY,

'GENIUS
BUREAU OF
SM

-

:-

':.V

' r 4;;;"/, :
COMMER€E
'
t

In addition fto figures given from Gcfyernm&ht sources, ther^ are also incorporated loir completeness of
service fywrzs from other sources yerieyally accepted by the trades, the authority and responsibility V „
for which we .noted in the '* Sources of Dat^ on pa&est 134-13? ^ o f t h e August, semiannual i$&i$

Subscription price of tfte SURVEY OF; CURRENT BUSIKESS is $L$Q a year; single copies (monthly^ 10 cent$, semiannual
issued 25 cents. Eoffelgn subscripdoiis, $2.t$i single copies (tiidmtMy issuer), i including postage, 14 <&$t$; semiannual
isfsuesi, 3d cents, Subscription,j>rice of COMMERCE^ ft^pQilTs is $4 a\yeii-j with the SURVEY, 35.5,0 a yeW. Ma|;e
es ottly tc? Sup^rinten<lent <)f £>6cuifte^ts, ^WashingitonV D. £,, fey postal money oirder, express Qifbr, or ,
/ Y o r k draft. Cuifenqr at sender's risky, JPbstagk stamps' of foreign monej not accepted




INTROBUCTION
THE STTRVEY OF CURRENT BUSINESS is designed to per cent over the base period, while a relative number
present each month a picture of the business situation of SO means a decrease of 20 per cent from the base.
by setting forth the principal facts r^gar4ing the vari- •> Relative numbers may dso be used to calculate the
ous, liiiesjof trade ana industry, : At semiannual mter- approximate percentage inqrease or decreasfein a 33aoveyats detailed tables are published giving, for each itei% •* ment froni one period to the next, Thus^ if a relative
knonthlyv figures for the/past two years and yearly number at one month is 120 and for a later montk it
comparisons, where available, back £0 1913* also blank: is 144 there h^s been an increase Of 20 per cent.
lines sufficient for six months have been left at the , In many instances comparable figures for die prebottom of each table enabling thp$e who care td do -war years are not available, and in sUct eases the year
so to enter new figures as soon as they Appear (see 1919 h^s usuajl^ been taken ag th^ base. For some
issud for August, 1927, No. 72). In the intervening industries 1919 can not be Regarded as a proper base,
months the more important comparisons only ate due to extraordinary conditions in the industry, and
given iii1 the tat>te entitled,"Trend of business move- L ^ome more representative period has been chosen. ,
ments." , ,/ '
"•
,/
, ^ ; * \ ' - \'' ,
>Most of the ^lative numbers on a pre-war base
.which
were given in & special section of the semiannual
WEEKLY SUPPLteMENT
issues, as in Tables 111 to ;13i :of the August, 1926^;
Realiziiig that current statisties ai*e h%hly perish- number, thus allowing easy comparison, have-been
able and .that to l?e of us$ they must reafch the business temporarily omitted.
man at the earliest possible moinent, th& department
hag arranged to distribute supplements every week id
INDEX NUMBERS
subscribed in the United States, The 3uppleni&nt$ are
ttsuaUy maifej on Saturdays and;give such ififoML^ti^n
Wh$n two or'tnore series of relative mixnbers are
as has been received during the weet ending on the) Combined by a system of weightings the resulting
preceding Tuesday. The information contained in series is denominated an index number. The index
these bulletins is republished in the/moji^hly StrRVBl^ auinber, by combining many relative numbers^ is
designed to $how the trend of &n enfiire group of
swhiehi^ distributed as quickly a&it &an be completed
and printed*
^
/ JWustries or for the country as ^ whole, instead of for
v
tke single commodity or industry which the relative
BASI0 DATA
npmber covers. Comparisons ^itk Hie base year or
The %ur6s reported in file accompanying tables are ^th other periods are ma.de'in the same manner, as in
very largely, those already in ^dstei^ce. The ^bief tke case of relative numbers.
functionvof, the department is to bring together these
.data which,rif available at all, are scattered in hx^iRATIO CHARTS
clrecb 0f deferent publications. A" portion of these
d^ta 'are collected by Government depWtments^ dttier t ; :In many instances the charts used in the STJRVBY
figures are cbmpiled by technical Journals, and still ;OF CJu^EEKT BUSINESS are of the type termed ''Ratio
others are reported by trade associations.
Charts^ *• (logarithmic se^le)r notably the Business
Indicator charts on page 2» ^These chaffe show the
RELATIVE NUMBERS
percentage increase and allow direct comparisons
ftet^eh the ^3ope of one" curve and that of any other
To facilitate comparison between different im^bt- curv0 regardless of its location/on the diagram; that
tant items and,render the trend of~&:movemeiit more i^ a 10 per cent increase in an item is given the same
apparent, relative numbers (often called " index num- vertical movement whether its cutve is near the bot"bers,n a term referring more,particularly to a special tom or near the top ot the chart.
kind of number described below) h.ave been calcu- .,-' The difference between this and the ordinary form
lated. The relative numbers enable the reader to see of .a chart can be made cl0ar by an example. If a
at a glance the general upward or downward tendency; certain item, having a relative number pf 4pO in one
<>f a nioveptBant which ;can not so easily be grasped mbnth, increases 10 per cent in the following month,
its relative number will be 440^ tod on an ^ordinary
from the actual
figures.
,
Iri computing these relative numbers ^,he last pre- chart would be ploftted 40 equidistant scale points
war year/ 1913, or in some instances $, five-year aver- higher than the,preceding month. Another moveage, 1909-1913, has been used as ai>,a&e equal to 100 men^ with a relative number of, say, 50, also increases
wherever ppssijble. Mor^ lately ^ the average for iO.per cent, making its relative puniber 55. On the
1&23-1925 hag b^en frequently taketi'as 100. _
ordmary (arithmetie) scale this item would rise only 5
The retetive; numbers are computed by allowing the equidistant points, .whereas the previous item rose 40
monthly ^v^rage for the base year or period to equal points, yet each showed the same percentage increase,
100. If jthe movement for SL current month is greater The'totio charts a^void this difficulty and give to each
than the base, tte relative number>;ill be greater th^an of tie two rnoveiJLxerifcs exactly, the same vertical rise,
,100, and vice versa. The ^ifferetfie^ between 100 and a&d hence the slopes of the two lines are directly
the relative number will give at once the p&i* ctot comparable. The ratio Charts .compare percentage
increits0 or decrease compared with the base period, cbauges, witile the arithmetic charts compare absolute
"Thus a relative number of IIS mea^s an iticrease of 15
Thigissue presents practically complete data for the rnonthiof^uly and also items covering the early weelcs of August
received jup to Attaint 29* (See charts %nti fable, pp. 4 and 5.) As most data cover ing a particular month's business are not
available until from IB to 30 days after the close of the month, a complete picture of that month's operations can not be
presented at ah early date, but the weekly supplements gfoe every week the latest data available.




UNITED STATES DEPARTMENT OF COMMERCE
WASHINGTON

SURVEY OF
CURRENT BUSINESS
COMPILED BY
BUREAO OF THE CENSUS

:

i

BUREAU OF FOREIGN AND DOMESTIC COMMERCE

:

:

BUREAU OF STANDARDS

SEPTEMBER

No. 73

1927

CONTENTS
SUMMARIES

INDEX BY SUBJECTS

Preliminary summary for August
1
9
Course of business in July
Monthly business indicators (table and chart)
2,3
Weekly business indicators (table and chart)
4,5
Wholesale prices (table and charts)
( >, 7, 11
Indexes of business
10, 11
Detailed indexes (production, prices, sales, etc.)
18
Automobiles, building, mining, manufacturing, electric power, and transportation (charts)
NEW DETAILED TABLES

Employment in New York State factories
Waldorf System, Inc., restaurant sales
Enameled sheet metal ware
Electrical porcelain

21
21
21
21

Textiles
Metals and metal products .
Fuels
Automobiles and rubber
Hides and leather _
Paper and printing. _
Building construction and housing
Lumber products.
Stone, clay, and glass products _ _
Chemicals and oils
Foodstuffs _ _
Tobacco
Transportation and public utilities _ _
Employment and wages
Distribution movement (trade, advertising, etc.).
Banking and finance _
Foreign exchange and trade, gold and silver. _ _

Text
nasff

Table

12
22
13
24
14
28
14 26,30
14
29
14
31
32
15
15
33
15
35
15
36
16
37
16
41
17 41,42
11
42
17
43
44
17
17
47

PRELIMINARY SUMMARY FOR AUGUST
Measured by check payments, the dollar volume of
trade during the early weeks of August was larger
than during the corresponding period of 1926. Distribution of goods, however, as seen from figures on
carloadings was running smaller than last year. The
value of new building contracts awarded showed an
increase over the early weeks of August, 1926. The
production of bituminous coal was running higher
than in the previous month but was lower than in
the corresponding period of last year. The output of
crude petroleum receded somewhat from the high
record of the preceding month but was still well
above a year ago. The production of beehive coke,
while showing no material change from the preceding
month, was substantially lower than for the same
period of last year. Lumber production was on about

the same level as during the early weeks of August
1926.
Wholesale prices during August recovered somewhat
from the low level of the preceding month. Loans and
discounts of Federal reserve member banks expanded
during the month, being substantially higher than a
year ago. The Federal reserve ratio was also higher
than last year. Prices of stocks on the New York
Stock Exchange averaged higher, reaching a new high
record during the month. Bond prices advanced as
compared with both prior periods.
Interest rates on call loans averaged lower than in
either the previous month or the corresponding month
of last year, with time money rates making similar
comparisons. Business failures during August, based
on figures for the first four weeks, were more numerous
than in the corresponding period of 1926.

Now out.—TEXTILES SECTION OF THE RECORD BOOK OF BUSINESS STATISTICS, obtainable from the
Superintendent of Documents, U. S. Government Printing Office, Washington, D. C., at 10 cents per
copy (no stamps).

60578—27
1


.

( |)

MONTHLY BUSINESS INDICATORS, 1920-1927
[Ratio charts—see explanations on inside front cover. The curve on bank debits has been adjusted for normal seasonal variations and that on manufacturing production
for the varying number of working days in the month]

350

1920

RELATIVE TO 1913 AS 100
1921 1922 1923 1924 1925

RELATIVE TO 1919 AS 100

1926 1927

1920 1921 1922 1923 1924

1925

1926 1927

200

BANK DEBITS. 141

I

I

I

I

WHOLESALE TRADE 6 LINES

INTEREST RATES, COMMERCIAL PAPER

WHOLESALE PRICES DEPT OF LABOR)

PRODUCTION
COMMODITIES;

UNFILLED STEEL ORDERS

AUTOMOBILE PRODUCTION
( PASSENGER CARS AND TRUCKS)

NET FREIGHT TON-MILES

40
I I i I I I I I I I I I I I I

1920




I I J. I I I I I I. M

I. I I

1921 1922 1923 1924 1925 1926 1927

1920

1921 1922 1923

1924 1925 1926 1927

30

MONTHLY BUSINESS INDICATORS
The following table gives comparative relative numbers for a selected list of important business movements. It is believed
that this table will prove useful, because it segregates 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.
MONTHLY AVERAGE

1927

1926

ITEM

1920

1921 1922 1923 1924 1925 1926 Apr.

May June

July Aug. Sept. Oct. Nov. Dec.

Jan.

Feb.

Mar. Apr May June

July

1913 monthly aver age =100
Production:
Pig iron
Steel ingots
Copper
Cement (shipments)
Anthracite coal __
Bituminous coal
Crude petroleum
Cotton (consumption)
Beef ....
.. ..
Pork
Unfilled orders:
United States Steel Corporation
Stocks:
Crude petroleum *
Cotton (total)
Price: «
Wholesale index
Retail food
Retail coal, bituminous
Farm products
Business finances:
Defaulted liabilities
Price 25 industrial stocks
Price 25 railroad stocks
Banking:
Clearings, New York City
Clearings, outside
Commercial-paper interest rate
Distribution:
Imports (value) .
.
_.
Exports (value)
Sales, mail-order
Transportation :
Freights, net ton-miles
.... ..

120
135
99
108
98
119
178
105
119
113

54
64
38
107
99
87
189
97
113
117

87
114
80
131
60
88
224
109
126
130

130
144
120
153
102
118
295
117
130
160

101
122
128
164
96
101
287
99
133
151

118
146
136
177
68
109
304
115
138
128

127
155
141
182
93
121
309
120
144
127

135
163
143
175
108
101
292
124
137
120

136
156
143
243
106
98
303
111
139
119

126
148
139
259
117
105
298
111
150
136

126
144
140
254
111
109
315
99
136
129

125
158
140
251
108
116
324
108
140
118

123
155
141
245
111
123
318
123
164
100

130
162
146
237
114
137
336
122
166
101

126
147
146
153
98
150
338
126
155
119

121
137
141
87
99
145
351
130
150
151

121
149
148
81
86
143
345
130
135
164

115
150
134
91
77
133
328
127
122
128

136
178
134
150
80
151
364
149
132
146

134
162
138
194
93
87
351
133
128
126

132
159
139
228
106
89
368
136
136
143

121
138
135
267
95
92
360
142
136
163

115
126
127
257
66
84
378
122
126
137

170

90

96

102

68

73

64

65

61

59

61

60

61

62

64

67

64

61

60

59

52

52

53

143
155

171
198

265
153

311
125

369
111

290
129

269
177

273
167

271
143

268
119

265
98

265
85

265
137

264
217

264
260

265
267

266
257

272
239

276
210

284
181

293
151

301
122

310
105

226
203
207
205

147
153
197
116

149
142
188
124

154
146
190
135

150
146
169
134

159
145
167
147

151
160
172
136

151
162
168
140

152
161
161
139

152
160
160
139

151
157
160
136

149
156
162
133

151
159
170
134

150
160
177
130

148
162
188
130

147
162
187
127

147
159
183
126

146
156
181
127

145
154
179
126

144
154
165
125

144
155
163
126

144
159
164
130

145
153
164
130

108
184
67

229
136
64

228
169
75

197
185
72

198
198
81

162
262
99

149
285
112

169
249
104

147
253
106

129
268
111

130
280
113

123
296
116

131
296
120

146
283
114

143
295
117

200
308
121

225
301
122

206
311
127

254
324
128

233
344
133

166
361
137

151
363
139

189
381
141

257
275
134

205
212
118

230
230
80

226
276
90

264
284
71

300
320
73

307
327
77

329
327
76

297
319
72

307
332
70

302
337
72

275
307
78

271
315
80

309
345
82

282
319
80

339
344
79

324
329
75

292
291
70

364
340
72

336
323
74

314
324
75

353
333
75

323
320
78

294
331
264

140
181
188

177
154
204

212
168
259

201
185
284

236
198
327

248
193
349

266
187
344

215
172
299

225
163
309

227
178
284

225
186
286

230
216
336

252
220
417

250
232
425

241
225
471

239
201
313

208
178
312

254
196
365

251
199
361

232
188
299

238
172
320

219
166
292

137

105

115

139

131

139

149

133

146

144

153

160

162

177

159

147

143

136

153

136

147

141

1919 monthly average =100
Production:
Lumber '
_
Building contracts (37 States)
Electric power (total)
.. .
Automobiles (United States)
Stocks:
Beef. .
Pork
Business finances:
Bond prices (40 issues)
Banking:
Debits outside New York City
Federal ReserveBills discounted
Total reserves
Ratio. —

102
75
112
115

86
71
105
83

117
105
122
132

133
111
143
204

129
115
152
181

141
146
169
215

136
138
190
218

142
162
179
267

148
159
180
259

148
145
183
236

139
129
184
220

143
142
190
262

141
139
192
244

143
135
203
204

127
132
200
156

113
120
210
101

106
100
208
145

115
103
188
185

123
164
204
240

122
157
198
247

137
139
203
246

135
147
200
195

127
199
163

66
98

42
83

29
70

32
91

34
90

34
82

27
70

25
76

22
74

21
78

19
86

18
84

20
67

26
52

36
47

43
57

40
72

37
81

33
90

27
94

21
98

18
108

15
111

86

87

107

104

108

112

116

116

117

117

117

117

116

116

118

119

119

119

120

120

121

120

120

114

91

95

107

108

121

127

128

122

128

135

118

121

135

123

139

133

118

137

134

130

135

130

132
97
80

91
122
122

28
144
154

39
146
152

19
146
160

26
134
149

30
135
148

27
135
151

24
136
151

27
136
150

27
137
152

32
135
148

37
134
145

33
135
147

33
135
144

37
134
140

19
143
159

22
144
156

24
145
157

23
146
158

26
144
153

25
145
155

21
145
159

i Data since January, 1925, cover only stocks east of California, and hence are not directly comparable with figures for earlier periods.
J
Wholesale and retail prices from Department of Labor averaged for the month; farm prices from Department of Agriculture.
« Based on the total computed production reported by five 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.




WEEKLY BUSINESS INDICATORS
[Weeks ending Saturday. See table on page 5]
WEEKLY AVERAGE, 1923-1925 INCLUSIVE* 100
BITUMINOUS COAL, PRODUCTION

DEBITS TO INDIVIDUAL ACCOUNTS

BUILDING CONTRACTS
UAN FEBJMARJ APR. [MAY] JUNJ JULY JAUQ.J SER.J OCT. |f

IJANJFEB. MAR.] APR. MAY JUN.' JULYJAUOJ SEP. OCT. NOV. DEC.

OAN.JFEB. MARJ APR. MAY JUNJJJULY JAUQ.j SEP. OCT.

160

LOANS AND DISCOUNTS F.R.MEMBER BANKS

120

115

\,\

|
X

7
Vj r
Jk

•••..•

HJ 1

1J1

j
i

!

j
i

r* rjVi i , .... .,•
**\ i- UK "
':',!.. .T..i. .,!,,„

A
•^^
"':.'

FEDERAL RESERVE RATIO

120
110

100

90

^•^Nv^---i-..j....4...H.. i

SO^U^i^^.
PETROLEUM PRODUCTION*DAILY AVERAGE)

CALL MONEY RATES

FISHER'S WHOLESALE PRICE INDEX

j

100

(T,"

Ji-4

p»-*i IT

•^ V
ir
V
,„

* **

'"'•. .'..

1 !1 I

M,

1 1 1

"\

100

"'

;

..

WHEAT RECEIPTS
400




'I'M iliM? TV W*%1 tfkw»«f\

JJ^U

i ii

/

IRON AND STEEL COMPOSITE PRICES

-\,

.- .r~~ — **. •MB

'i^ft "^i^i
JAN.

FEB.

MAR

APR.

MAY

JUN.

JULY

AUG.

.1926
•1927

SEP.

OCT.

NOV.

DEC.

WEEKLY BUSINESS INDICATORS

!
,g

•e
a
e
fiS

i

1926

June 5
12
19
26

88.9
98.8
97.5
101.0

July

3
10
17 24
31

Aug

7 ....
14__
21
28

104.2
109.9
108.5
102.1

69.1
66.9
67.6
68.4

91.4
91.0
90.8
90.8

97.7
98.9
98.0
97.8

111.7
111.3
112.5
111.6

10614
106.5
106.5
106.4

83. &
92.9
98.3
98.3

71.6 95.1
69.6
66.1 104.2
69.8 101.4
67.2 102.8

67.3
70.2
68.4
69.5
70.6

91.2
91.2
91.0
91.0
90.8

96.7
97.1
96.7
95.9
95.3

113.1 97.2 115.1 115.1 94.3 129.9 106.3
112.5 94.6 118.2 109.1 97 1 131.3 106.3
112.1 96.6 117.4 103.0 100.0 132.8 106.2
111.9 98.1 117.8 97.0 100.0 131.6 106.0
111.8 95.0 105.4 106.1 102 9 133.4 105.9

91.2
75.2
87.0
88.2
97.5

97.9
96.5
95.8
95.8

69.5
65.4
66.9
70.2

90.8
90.8
90.8
90.8

95.1
94.8
94.7
95.3

112.6
112.9
112.5
112.6

97.3
97.2
96.9
97.3

102.9
105.7
108.6
108.6

135.5
137.5
138.7
137.2

106.2
106.2
106.0
106.0

92.1
91.2
88.9
89.9

93.7
94.4
96.5
96.5

68.8
68.0
62.9
55.9

90.8
90.7
91.3
91.5

95.0
95.6
95.4
95.1

113.5
113.6
114.5
114.1

96.0 102.3 115.1 111.4
95.9 92.2 121.2 111.4
92.4 115.6 121.2 111 4
94.3 119.1 127.3 114.3

137.2
140.1
138.8
139.0

106.2
106.2
106.1
106.0

92.6
73.5
80.3
82.6

58.6 97.9
63.5 96.5
66.3 97.9
74.0 100.0
78.9 100.7

52.6
48.2
50.0
46.3
46.7

91.4
91.4
92.1
92.1
92.2

95.4
94.9
95.3
95.5
96.5

115.2
115.3
115.3
115.0
114.5

93.7
95.1
94.3
95.6
95.0

108.5
130.3
107.7
131.9
115.8

133.3
115.1
124.2
103.0
109.1

114.3
114.3
117.1
114.3
111.4

140.5
136.3
134.4
132.9
134.6

105.8 81.8
105.8 96.1
106.0 92.1
105.8 105.9
106.3 105.7

79.5
85.1
79.4
75.0

99.3
97.9
95.8
97.2

46.7
48.2
47.8
48.2

92.5
92.8
92.9
93.0

98.8
98.4
96.0
96.2

115.0
114. 5
114.3
114.6

93.9
95.5
95.1
94.6

111.8
115.5
118.2
112.2

109.1
106.1
112.1
115.1

108.6
105.7
105.7
105.7

136.2
138.1
138.2
140.4

106.6 94.3
106.7 103.9
106.9 112.3
107.1 97.5

96.8
99.7
90.0
78 7

97.2
98.6
97.9

44.5
45.2
46.3
47.8

92.9
92.4
92.3
92.1

96.2
95.9
94.7
94.3

115.0
114.8
115.1
115.5

93.2
93.0
89.9
88.9

108.8
114.5
118.7
126.7

118.2
118.2
118.2
136 4

105.7
105.7
105.7
105. 7

140.9
142.4
144.4
145.2

107. 1
107.2
107.3
107.4

113.8
114.5
103.9
120.6

191.5
133.5
150 8
159.6
140.8

64.2 71.6
87.3 100.9
93.0 110.6
94.9 98.9
87.7 97.7

97.9
95.1
97.2
98.6

47.8
48.2
49 6
50.0
50.4

92.0
92.0
91 3
90.5
90.3

94.0
93.9
93.4
94.0
93.3

116.6 90.5
116.7 91.6
11$. 4 97.3
114.2 99.2
113.6 102.7

1C6.1
143.2
120.4
119.4
111.1

133.3
115.1
103 0
100.0
97.0

105.7
102.9
102.9
102.9
102.9

144.4
142.2
142.9
143.0
141.0

107.3
107.5
107.8
108.0
108.0

109.1
121.4
142.8
150.4
146.7

122.3
120.4
105.8
119.2

84.2 90.0
78.8 86.0
83.5 77.5
82.3 87.7

97.2
96.5
96.5
96.5

51.5
51.8
52.2
52.6

90.1
89.5
89.2
88.7

92.7
92.9
91.4
91.0

113.8
113.2
113.0
113.2

101.3
102.6
101.2
103.4

127.9 97.0
111.5 97.0
113.9 97.0
102.2 100.0

102.9
102.9
110.0
102.9

143.9
145.6
148.1
149.7

107.8
1G7.6
107.7
107.6

140.0
145.9
118.9
109.1

57.7 96.9
61.8 103.8
51.1 97.7
31.8 88.5

76.6
76.9
78.2
79.1

82.0
81.8
85.1
76.9

96.5
95.8
94.4
93.0

53.3
52.2
51.8
52.9

88.8
88.9
89.1
89.1

91.4
91.0
89.8
90.3

114.4
114.3
115.1
114.9

101.3
102.8
101.9
102.2

134.2 100.0 100.0 150.3 107.5
114.4 97.0 102.9 150.3 107.7
123.7 97.0 102.9 152.2 108.0
118.7 106.1 102.9 152.1 108.4

117.9
113.8
115.5
120.9

119.0 103.5 153.6
119.0 100.1 187.2
117.8 99.8 156.9
119.0 99.6 153.1
120.0 107.1 182.5

48.7
43.9
37.5
42.9
41.3

83.8
65.8
69.6
76.5
70.4

83.5
80.7
79.4
86.1
80.1

81.7
75.3
61.9
79.5
77.0

93.0
94.4
93.0
95.1
95.8

52.9
53.3
53.3
55. 5
56.3

89.1
88.9
88.9
88.5
88.5

90.3
90.7
90.2
89.8
89.8

114.9
115.2
114.8
114.5
114.8

101.7
102.8
101.7
102.6
102.6

110.0
129.8
117.9
118.2
114.4

154.3
157.6
159.7
161.3
159.2

108.6
108.8
108.7
108.7
108.6

121.4
107.9
114.5
106.9
117.4

106. 8
107.3
106.1
107.1

115.5
149.2
141.1
193.4

45.3
45.2
66.7
62.0

79.2
66.5
55.0
36.9

88.6
89.9
87.0
91.5

80.7 99.3
82.7 100.7
76.1 100.7
90.1 105.6

58.8
58.1
59.6
61.8

88.6
89.0
88.9
88.6

90.2
89.8
90.1
90.0

115.9
115.6
115.7
115.5

100.6
103.2
102.3
101.7

131.0 97.0 100.0 161.6
114.4 106.1 100.0 164.0
123.9 97.0 100.0 166.2
114.8 109.1 100.0 168.9

108.8
109.1
109.0
108.9

105. 9
108.6
109.1
110.3

60.4
57.6
55.9
53 5

120.4 95 0 83 8
119.9 107.3 145.8
120.5 106.0 145.6
120.5 106 2 154 2

62.1
51.5
50.7
52.3

41.9
38.1
38.8
38.1

88.3
83.2
80.4
80.1

95.8
94.6
74.4
86.4

104.2
100.7
102.1
103. 5

62.1
62.9
61.8
61.8

87.9
88.7
88.6
88.5

90.2
90.3
90.3
89.6

117.0 99.1
116.7 99.6
117.2 98.6
117.0 101.8

110.4 109.1 100.0 170.2 108.7 90.9
122.4 100.0 100.0 170.0 108.4 108. 4
121.6 97.0 102.9 168.2 108.3 98.8
120.5 97.0 102.9 167.4 108.2 104.4

81.9 90 9
67 5 73 6
84.6 105.5
84.7 106.4
88.2 104 5

42.0
46 5
43.3
43.7
43 3

121.7
121 7
122.1
123.6
124 1

96.3
107.5
130. 3
150.4
327.4

36.2
38.8
28.1
33.5
35.4

73.1
56.6
90.8
84.5
82.3

89.7 100.7
70.3
79.0 102.8
65.8 100.7
70.9 97.9

62.9
63.2
66.2
68.4
68.8

88.2
88.1
87.9
87.9
87.8

89.3
90 0
90.4
88.7
89.8

117.8
117.5
116. 0
116.0
115.9

114.6 112.1 105.7 165.5 108.1 104.2
131.5 100.0 105.7 169 9 108.3 76.9
120.2
97.0 105.7 173.0 108.4 109.8
119.2 90.9 102.9 174.5 108.4 101.7
105.5 90.9 100.0 177.0 108.5 107.1

87.2 105.5
93.3 102 3
93.8 106.4

45. 3 123. 7 106.8 102.2 306.8
44 1 123.7 109 4 159 4 241.7
141.3 206.6
44.1 120.9

36.2
47.7
61.2
75 0

83.5
91.5
97.5

70.0 96.5
66.6 99.3
67.8 100.0
98 6

70.2
71.3
75.4
80.9

87.6
87.5
87.5
87.5

89.8 116.7 100.4 118.4
89.2 117.0 101.2 108.4
90.0 117.0 101.3 115.8
91.4
101.3 103.2

79.6 96.4 98.7
80.0 96.7 110.6
75.1 96.5 108.9
76.3 97.0 110.8

33.1 94.0
30.8 91.5
24.6 92.7
16.5 84.5

108.0
130.8
116.4
130.6

46.3
46.7
44.2
71.4

97.4 100.5
85.2 80.9
103.8 102.3
104.1 99.1
108.2 104.5

66.5 97.8 111.9 108.9
71.8 97.6 94.0 137.1
74.3 98.6 113.0 141.2
69.4 99.4 113.2 116.3
71.8 101.6 115.0 163.6

110.7
173.6
179.4
242.5
323.5

104.1
109.1
108.1
115.1

105.5
106.4
105.5
108.2

67.8
66.5
74.7
73.9

102.8
103.8
104.2
104.5

113.0
115.7
113.6
118.5

105.3
131.8
131.6
171.4

296.8 22.7 74.4 69.8
235.2 43.8 97.5 66.1
175.5 53.5 101.3 66.9
137.0 61.2 102.2 59.0

Sept. 4
11...
18
25

113.0 104.5
105.2 95.0
117.5 104.5
120.2 106.4

75.1
74.3
80.0
80.4

105.4
104.8
104.3
104.2

120.1
107.5
123 8
123.4

125.7
167.7
140 5
156.2

162.1
153.2
147.6
122.4

101.9
113.8
195.4
249.2

122.2
119.9
132.0
139.2

59.9
59.8
63.2
59.5

Oct.

123.2
126.9
127.1
130.4
138.4

103.2
106.4
105.5
103 2
105.5

75.1
84.9
82.0
81.6
80.0

105.3
105.8
107.2
109.7
111.9

123.7
123.6
126.2
126 1
126.9

150.7
122.6
161.6
138.6
146.4

116.0
109.6
91.8
109.3
118.0

321.5
360.4
359.2
353.5
328.1

129.1
144.9
140.8
141.8
149.4

Nov. 6
13
20
27

134,5 102.3
141.7 99.1
146.5 99.1
137.6 88.2

78.4
82.4
83.7
80.8

113.2 118.6 127.7 104.1 320.0 123.7
112. 5 116.1 121.3 96.6 307.7 137.0
113.8 112.5 119.1 77.2 305.4 131.3
114.8 98.3 163.0 73.8 278.1 96.8

Dec.

4
11. _ _
18
25

150.6
144.6
138.3
107 6

98.2
96.4
90.0
75 9

78.0
75.1
71.8
59 6

114.7 110.4 83.9
115.0 104.2 117.4
115. 1 99.1 176.0
115 3 80 6 90 9

68.5
71.4
61.8
50 2

281.5 110.8
260.8 101.9
237.7 103.5
203 5 71.5

Jan.

1
8
15
22
29

109.9
136.0
139 3
138.3
138.9

53. 2
75.9
85 9
86. «
82.7

70.2
69.4
73 9
75.9
77.6

114.6
114.7
114 8
114.7
113.8

77.2 138.5
98.1 107.4
99 1 97 3
98.3 89.6
99.2 118.4

53.0
59.0
60 0
58.4
65.1

139.4
138.4
135.4
131.0

88.2
90.9
94 1
92.3

76 3
76.7
78 0
77.1

115.3 101 3 77 9
118.2 101.0 99.7
118 7 100 2 112 2
119.3 96.3 134.6

77.6
62.5
72.5
55.5

Mar. 5
12
19
26

136.1
141.4
133.6
137.2

90.0
92.3
93.2
92.3

76.3
79.6
83.7
81 6

118.3
118.1
118.2
118.2

Apr.

113.4
84.7
82.1
81.4
86.4

90.9
97.3
97.3
90.0
96.4

80.0
78.8
71.8
69.0
71.8

84.0 102.3
86.2 101.4
84.9 99.1
87.0 103.2

63.3
60.4
62.9
51.0

120.3
119.4
119.0
119.9

75.7 96.4
87.5 101.4
85.0 97.3
87 0 99.1

2
9
16
23
30

Business failures

Time-money rates

Call-money rates

Debits to individual
accounts

Federal reserve ratio

Bank loans and
discounts

Wholesale price
index

Price of iron and
steel (composite)

Price of cotton
middling

Price of No. 3 wheat

Receipts of hogs

Receipts of cattle

Receipts of cotton

Receipts of wheat

Building contracts

Carloadings

Petroleum
production

Beehive coke
production

WEEK ENDING
SATURDAY J—

Lumber production

Bituminous coal
production

[AH data are given as relative to the weekly average for 1923 to 1925 as 100]

...

100.5
107.3
109.5
104.5

18.6
13.1
20.0
20.0
25.4

94.9
88.6
102.5
93.4
92.7

74.6
90.6
74.6
70.3

95.9
97.5
96.8
98.1

106.2 100.0
110.2 97.0
117.8 90.9
111.6 103.0

115.5
106.0
111.4
102.5

109.1
109.1
109.1
115.1

94.3
94 3
97.1
97.1

123.6
124.2
128.0
128.8

1937

Feb

5
12 .
19
26

_

--

2
9
16
23
30

May

7
14 _
21
28 __-

June 4
11
18
25
July 2
9
16
23 ._
30

.

___

Aug. 6
13
20
27

103.8 72.9
104.9 123.3
105.0 161.6
105.2 147 5

106 5
87 5
106.1
105.6
109 1

178 6
127 0
148.8
146.5
170 3

100.1
99.1
100.6
101.7
102.8

109.1
109.1
109.1
97.0
103.0

102.9
97.1
100.0
102.9
100.0

87.9 100.0 179.5 108.9
90.9 97.1 175.1 109.2
84.8 102.9 177.5 109.3
84.8 91.4 180.3 109.4

95.3
96.6
97.3
90.7

1
Sources of data are as follows: Bituminous coal and beehive coke production from U. S. Department oj Commerce, Bureau o] Mines; Lumber production, based on four
associations, from the National Lumber Ma1
Railway Association; Building contracts froi
Bureau of Agricultural Economics; Receipts.
_
„.
.......
Fisher; Price of cotton, middling, from New York Cotton Exchange; Price of iron and steel, composite, from Iron Trade Review; Price of wheat, No. 2, red, cash, from Chicago
Board of Trade through U. S. Department oj Agriculture, Bureau o) Agricultural Economics; Loans and discounts of member banks and debits to individual accounts from
Federal Reserve Board; Call-money and Time-money rates, and Bond prices from Wall Street Journal; Stock prices from Annalist: Business failures from R. 0. Dun &
Company.
'< The actual week for all items does not always end on same day.




WHOLESALE PRICES FOR SPECIFIED COMMODITIES
[Relative numbers, 1926 monthly'average taken as 100. July, 1927, is latest month plotted.]

•,

100
•BM

80

..

...

**• mm

.

m^t

..

•••

**.

X

^

...

^^

• •i • .

mm

«^

^

BEEF, CARCASS

124 .4 12 J.3

12 ).!

S

,.

**

»•*,

SUGAR, GRANULATED

SUGAR, RAW

160

0

...

t 9

••

••'

'"

.,

HOGS,
,.•

w

^

ff

*•

••• £ . • i

s> •fiiS

HAMS, SMOKED

HEAVY
^

...

7C .4 727

m»

•M mm

(CHICAGO)

•• ••

..•

"%,

.• •• •**

_L

^

100

80

f 13 6 13*.4

mm mm mm X

^ CATTLE, STEERS

120

c AT S

CORN, NO. 2

FLOUR, WINTER

WHEAT, WINTER

120

..
" ••,

•** N*

RUBBER, CRUDE

COTTONSEED OH
\

140
/

120

•^

^••• ••• ^N,

100

••

•*«

•*

**,^.t.

~

-

••

••

• •'

..*

x

80

COTTON YARN

COTTON, RAW
*•'

••

'•.f

•*

"-

\

'• ...

*^

COTTON PRINT CLOTH

,,

110

*

..

'••

S|00

*/

X

/

I 90
g 80

\

*•
*»

X^

X

***

'.,

^

*..

to

\9
\

60
120

"

A

..

•.

*t

^

»>

'.
^

**

X ^—-

WOOL, U GREASE

..

..f

yX
r

•

•.

•.

\

•

**, tf
•Mi

*'»

(BOSTON)

- i.

..

•

•*

\

Cf

•^

**

*&

X '.-

.. • • •*

•••

*

^

,,,,

§ 70
UJ

100

SILK, RAW

WORSTED YARNS

* 120
...

'

^ ""^

^^

**,*•*

..

*?

••

/

, y

'•.

.LEATHER, SOLE, OAK

.' '•
•-

.. ..••

*

COAL, BITUMINOUS

.. .

'•

178 8

[89.4

..

**%

™i

s,

601
110 ...

'•
,.

*.

100

•*•

*¥

90,

.. ••'

'

X
•••

I^H

..

^*

^
'••

E^ *•• ^fl

LUMB ER

••

PI NE sc)U1HE RN1

^

*** •^

V
*

9»

^
'•

..

•• ••

\i\\\\\\\\\




^a :•

a

5

-

•• ..

••a mmi ^

5 £ < ^ - ^ D ^

<

S

l

~ o i

.* • •

-

'..

I

'•'

*•

mm -e ^«6.4 8! 'it's 1,6 8 .9

CEMENT, LEHIGH

^

80

.•

•

X.

B RIC)K,

•—! -*<-

••

°\

ZINC
•* *••

t

V*

.-''

Xk

TIN

Jf^
•**,t""T^

STEEL BEAMS

110

/ *.
"

"

COPPER INGOTS

PIG IRON, FOUNDRY

COKE

:

/

s

•

**

13* J 15 53

•^*

80

90

••

PETROLEUM

BOOTS AND SHOES, (ST. LOUIS)

100

100

s

*•

80
120

"HIDES, PACKERS

...

•,

"• ... .., ...

S

COMMON, NEW YORK
,

V

v\

*••• ... ..

8
i 7!

! I N 1 1 N It n

i i

[

\327mmmmmmmm

WHOLESALE PRICES FOR SPECIFIED COMMODITIES
NOTE.—Prices to producer on farm products and market price of wool are from IT. S. Department of Agriculture, Bureau of Agricultural Economics; nonferrous metals
from the Engineering and Mining Journal-Press. All other prices are from U. S. Department of Labor, Bureau of Labor Statistics. As far as possible all quotations represent prices to producer or at mill.
RELATIVE PRICE
ACTUAL PRICE

(dollars)

June,
1927

1926 average =
100

1913 average =100

Unit

COMMODITIES

July,
1927

July,
1926

June,
1927

July,
1927

1.274
.924
1.831
.155
26.59
.0713
.0858
.1144

1.277
.715
1.746
.154
31.31
.0646
.1269
.1152

164
144
320
123
121
120
112
196

161
150
307
129
122
121
114
188

July,
1926

June,
1927

July,
1927

161
116
292
128
144
109
169
189

96
127
103
98
97
110
71
103

94
132
99
103
98
110
73
99

FARM PRODUCTS-AVERAGE PRICE TO PRODUCERS
Wheat
Corn
Potatoes
Cotton
Cottonseed
Cattle, beef
Hogs
•
Lambs.-

1.301
Bushel
.889
Bushel
1.910
Bushel
.148
Pound
Ton
26.27
.0708
Pound ...
.0840
- - Pound
.1195
.. Pound

.

. .

..

FARM PRODUCTS—MARKET PRICE
1.512
1.448
1.003
.503
.916
1.146
16. 875
.168
.42
11. 831
8.688
5.156
13. 250

1.480
1.428
1.021
.477
.786
1.096
17.00
.180
.44
12. 300
8.975
5.313
14. 219

1.530
1.440
.804
.417
.722
1.040
21.00
.187
.43
9.419
12. 981
5.875
14. 263

166
147
160
134
147
180
128
131
168
139
104
110
170

162
145
163
127
126
172
129
141
176
145
107
113
182

168
146
129
111
115
163
159
146
172
111
155
125
183

97
94
132
116
131
120
75
96
91
124
70
78
97

95
92
134
111
113
115
76
102
96
129
73
81
104

Barrel.
Barrel
Pound
Pound
Pound
Pound ...
Pound
Pound

7.913
7.063
.046
.060
.092
.170
.185
.246

7.813
6.920
.045
.059
.095
.182
.193
.243

8.975
6.805
.042
.056
.151
.162
.170
.351

173
184
132
142
127
131
141
148

170
180
129
138
131
141
147
146

196
177
119
130
209
125
130
211

94
98
107
109
84
104
118
80

93
96
105
107
86
111
123
79

Pound
Yard
Yard
Pound
Yard .
Yard
Pound
Pound
Pound
Square foot
Pound
Pair
Pair

.346
.073
.084
1.325
.975
3.285
5.194
.195
.201
.480
.490
6.400
4.902

.354
.075
.087
1.350
.975
3.285
4.949
.219
.226
.510
.510
6.400
5.000

.344
.073
.089
1.400
1.050
3.285
5.782
.142
.172
.450
.410
6.400
4.850

140
138
137
171
208
213
143
106
107
178
109
206
155

143
141
142
174
208
213
136
119
120
190
114
206
158

139
137
144
180
224
213
159
77
91
167
91
206
153

97
96
90
92
95
97
87
138
116
107
111
100
99

99
100
94
94
95
97
83
155
130
113
116
100
102

Short ton__ 3.640
Long ton... 10. 771
Short ton__ 3.169
. Barrel
1.155

3.640
10. 802
3.044
1.155

3.390
11. 483
2.944
2.050

166
203
130
124

166
203
125
124

154
216
121
219

101
94
77
61

101
94
74
61

19. 760
17. 500
33. 000
.1253
.0634
.6263
.0623

19.448
17. 625
35. 000
.1392
.0850
.6137
.0741

124
122
128
81
147
147
113

123
119
128
82
145
144
113

122
120
136
91
195
141
135

96
96
94
90
76
101
85

96
94
94
91
75
98
85

38.310
16. 510
11. 750

43.170
16. 970
17. 000

169
178
206

166
179
179

187
184
259

86
99
83

85
100
73

1.600
1.775
.255
.75

1.650
1.950
.335
.75

158
123
34
75

158
118
32
75

163
129
42
75

97
94
73
103

97
91
67
103

Wheat, No. 1, northern spring (Chicago)
Wheat, No. 2, red, winter (Chicago)
Corn, contract grade No. 2, cash (Chicago)
Oats, contract grades, cash (Chicago)
Barley, fair to good, malting (Chicago)
.
Rye, No. 2, cash (Chicago)
Tobacco, burley, good leaf, dark red (Louisville)
Cotton, middling upland (New York)
Wool J£ blood combing Ohio and Pennsylvania fleeces (Boston)
Cattle, steers, good to choice, corn fed (Chicago)
_.
..
Hogs, heavy (Chicago)
Sheep, ewes (Chicago) . _ ...
..
. _ _
Sheep, lambs (Chicago)

Bushel
Bushel
Bushel
Bushel
Bushel
Bushel
Cwt
Pound
Pound
Cwt
Cwt
Cwt
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)

.

_

CLOTHING
Cotton yarns, carded, white, northern, mule spun, 22-1 cones (Boston)
Cotton-print cloth, 64 x 60-3SH"-5.35—yards to pound
Cotton sheeting, brown 4/4 Trion (New York)
Worsted yarns, 2/32's cross-bred stock, white, in skein (Boston)
Woman's dress goods, French, 39 inches at mills, serge
Suitings, wool, dyed blue, 55-56 inches, 16-ounce Middlesex (N. Y.)
Silk, raw, Japanese, Best 1/x (New York)
Hides, green salted, packers' heavy native steers (Chicago)..
Hides, calfskins, No. 1, country, 8 to 15 pounds (Chicago)
Leather, chrome calf, dull or bright "B" grades (Boston)
Leather, sole, oak, scoured backs, heavy (Boston)
Boots, and shoes, men's black calf, blucher (Massachusetts)
Boots and shoes, men's dress welt tan calf (St. Louis)
FUEL
Coal, bituminous, mine-run 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, desilverized, for early delivery (New York)
Tin, pig, for early delivery (New York)
Zinc, slab, western (St. Louis)

__

Long ton... 19. 890
Long ton... 17. 875
Long ton
33. 000
.1237
Pound
.0641
Pound
.6423
Pound
.0621
Pound

BUILDING MATERIAL AND MISCELLANEOUS
Lumber, pine, southern, yellow flooring, 1 x 4, "B" and better (Hattiesburg district)
Mfeet
38. 960
Lumber, Douglas fir, No. 1, common s 1 s, 1 x 8 x 10 (Washington)
M feet
16. 340
Brick, common red, domestic building (New York)
Thousand.. 13.500
Cement, Portland, net without bags to trade, f. o. b. plant (Chicago
district)
Barrel
1.600
Steel beams, mill (Pittsburgh)
Cwt
1.850
Rubber, Para Island, fine (New York)
Pound
.278
Sulphuric acid 66° (New York)
Cwt
.75




8
NEW BUILDING CONTRACTS AND AUTOMOBILE PRODUCTION
[Relative numbers, monthly average, 1923-1925, taken as 100]

/<

TOTAL AUTOMOBILE PRODUCTION
(UNITED STATES)

FACTORY EMPLOYMENT, MANUFACTURING, AND ELECTRIC POWER PRODUCTION
[Relative numbers, monthly average, 1923-1925, taken as 100]

140r

120-

(0

glOO2
N^—. MANUFACTURING

~

PRODUCTION (ADJUSTED)

80

I , , I

60-

1920

1922

1923

1924

1925

MINERAL PRODUCTION AND RAILROAD TON-MILEAGE
[Relative numbers, monthly average, 1923-1925, taken as 100]

120




1926

I i i I i i !

1927

9

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, while further details are
given in the table entitled "Indexes of Business" on page 18]

PRODUCTION:
Manufacturing (64 commodities—adjusted)1
Raw materials, total
Minerals
Animals products
Crops
_
__ _
Forest products. _ _ _
Electric power__
Building (floor space)
STOCKS (45 commodities; seasonal adjustment)
UNFILLED ORDERS (relative to
1920)
SALES (based on value) :
Mail-order houses (4)
Ten-cent chains (5 chains) _
Wholesale trade
Department stores __ _ _ _
PRICES (recomputed to 1919
base) :
Producers', farm productsWholesale, all commoditiesRetail food
Cost of living (incl. food) _ _
CHECK PAYMENTS (141 cities—
seasonal adjustment)
FACTORY EMPLOYMENT
TRANSPORTATION :
Net freight ton-miles
Car loadings
Net available car surplus. .

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

1927

192«

YEARLY AVERAGE

May

June

July

May

June

July

129
121
142
114
117
119
190
138

130
94
135
118
57
131
180
159

131
99
144
121
63
128
183
145

127
116
150
115
103
119
184
129

138
106
145
134
70
126
203
139

135
103
145
124
69
124
200
147

132
105
141
113
83
115
199
127

146

174

165

164

169

181

178

52

56

50

48

48

48

48

99
165
83
124

105
185
82
125

118
209
84
131

123
229
84
136

105
214
82
137

113
204
84
130

98
206
82
99

65
75
78
94

64
73
78
95

70
77
84
98

65
73
86
98

67
74
87
98

67
74
86
97

103
93

110
84

127
84

135
85

128
85

115
119
25

108
116
139

115
122
146

123
127
124

121
148
156

1923

1924

1925

1926

119
114
136
117
102
121
143
111

113
119
126
117
118
119
152
115

126
117
133
113
111
126
169
146

119

137

74

July, 1927,
from
June, 1927

1

July, 1927,
from
July, 1926

-2.2
+ 1.9
-2.8
-8. 9
+ 20.3
-7.3
-0. 5
-13. 6

+ 3. 9
-9. 5
-6.0
-1.7
-19.4
-3.4
+ 8.2
-1.6

188

+ 5. 6

11.2

43

40

-7.0

106
224
79
131

114
224
81
130

100
221
78
97

-12. 3
-1.3
-3.7
-25. 4

+ 2.0
+ 7.3
-4.9
-2.0

65
73
84
97

60
70
83
95

62
70
85
96

62
70
82
94

0.0
0. 0
3 5
-2. 1

-4. 6
-4. 1
-2.4
-3. 1

131
84

137
83

145
83

147
82

145
81

-1. 4
-1.2

+ 5.8
-2.4

119
118
154

126
150
120

121
118
155

116
114
166

142
165

+ 24. 6
-0. 6

-5.3
+ 37. 5

-16.7

' See p. 28, January, 1925, issue (No. 41), for details of adjustment.

COURSE OF BUSINESS IN JULY
GENERAL CONDITIONS
The output of manufactures in July, after adjustment for working-time differences, was smaller than in
June but greater than a year ago. Stocks of commodities held at the end of July, with corrections for
seasonal variations, were larger than at the end of
either the previous month or the corresponding month
of 1926. Unfilled orders for manufactured commodities, principally iron and steel and building materials,
again declined from both comparative periods.
The production of raw materials in July, although
greater than in the previous month, was smaller than
in July, 1926. New contracts awarded for building
construction, measured in value, were greater than a
year ago but smaller than in June. Automobile production was smaller in July than in either the previous
month or the corresponding month of last year.
Factory employment, as well as pay rolls, showed
declines from both prior periods. Check payments
indicative of the general dollar volume of trade, after
adjustment for seasonal variations, declined from the
previous month but were greater than a year ago.

60578—27
2


Carloadings, although seasonally larger than in June,
were smaller than in July, 1926.
The dollar volume of wholesale trade was smaller
than in either the preceding month or the same month
of last year. -Mail-order sales, although lower than in
June, were greater than a year ago. Sales by 10-cent
chain stores made similar comparisons with both
prior periods. Department-store trade showed a
smaller dollar volume than in either the preceding
month or July of last year, while the value of merchandise stocks held by department stores, was smaller
than in June and a year ago.
For the first time in months, the wholesale price
index recorded an advance over the previous month,
but the July index was still well below the level of a
year ago. Prices of stocks, both industrial and railroad, continued to advance. Interest rates on time
money averaged higher than in either the previous
month or July, 1926. Call-loan rates, however, averaged lower than in either comparative period. Defaulted liabilities of failing business firms were greater
than in either the preceding month or July a year ago.

10
SUMMARY OF INDEXES OF BUSINESS
PRODUCTION

The production of raw materials in July was greater
than in June but smaller than a year ago, increases
over the preceding month in the marketings of crops
being more than sufficient to offset declines in the
production of forest products, in the marketings of
animal products and in the output of minerals. As
compared with a year ago, all groups declined. In
the case of minerals, substantial increases over a year
ago in petroleum, gold, lead, and silver were insufficient to offset declines in coal, iron ore, and copper.
All products of farm and forest were marketed or pro-

with raw foodstuffs showing the larger relative gain.
Stocks of manufactured foodstuffs and raw materials
other than foodstuffs, however, declined from the preceding month. As compared with last year, all groups
were held in larger quantities, except manufactured
foodstuffs, which declined.
SALES

The index of unfilled orders, principally iron and
steel and building materials, again declined, touching
in July the low point reached during the 1921 business
depression. The causes of the recent decline in this
index are quite dissimilar, however, from those of 1921.

RELATIVE PRODUCTION, STOCKS, AND UNFILLED ORDERS FOR MANUFACTURED COMMODITIES
[1920 monthly average=100. Adjustment has been made for both stocks and production for their respective seasonal movements. Unfilled orders are principally those
of iron, steel, and building materials. July, 1927, is latest month plotted]

duced in smaller quantities than a year ago, except
wool, hogs, milk, cotton, rosin, and turpentine, which
were larger than last year.
Manufacturing production, after adjustments for
differences in working time, showed a decline from the
previous month but was higher than a year ago.
Making no adjustment for differences in working time,
production decreases from the previous month were
registered in all industrial groups except foodstuffs and
chemicals and oils, which increased. As compared
with last year, all groups were higher, except iron and
steel, lumber, paper and printing, nonferrous metals,
and sundry miscellaneous industries, including automobiles, which declined.
COMMODITY STOCKS

Commodity stocks held at the end of July, after corrections for normal seasonal variations, were larger
than at the end of either the previous month or July,
1926. As compared with the preceding month, stocks
of raw foodstuffs and manufactured commodities,
other than foodstuffs, were held in larger quantities,



Wholesale trade, measured in value, was smaller in
July than in either the preceding month or the corresponding month of 1926, but the decline from a year
ago was not so great as the decrease shown in the
general level of wholesale prices. As compared with
last year, the dollar volume of wholesale trade in shoes
and drugs increased, but the increases were insufficient
to offset declines in hardware, groceries, dry goods,
and meats. As compared with the preceding month,
increases in drugs and dry goods were not sufficient
to offset declines in hardware, shoes, and groceries.
Department store trade showed smaller dollar business than in either the previous month or July a year
ago. Mail-order business was smaller in June but
larger than a year ago, while 10-cent chain stores
showed similar comparisons with both prior periods.
Sales by grocery chains continued to increase over
last year, while music and shoe chains showed smaller
business than in either the previous month or July,
1926. Drug and cigar chains showed increases over
June, with drug chains showing a substantial increase
over a year ago also.

11
EMPLOYMENT

PRICES

The general wholesale price index advanced over
the previous month but was still below a year ago.
As compared with June, increases occurred in the
wholesale prices of farm products and cloths and
clothing, all other groups either declining or remaining stationary. As compared with a year ago, all
groups were lower in price, except farm products,
which showed no change.
Classified according to the state of manufacture,
the general index of wholesale prices showed an
advance over the preceding month in the case of raw
materials with no change in either producers' or con-

Industrial employment in July was again lower than
in either the previous month or the same month of 1926.
Fewer workers than in June were employed in representative factories in all industrial groups, except leather,
which showed increased employment, and lumber, paper and printing, and tobacco, which showed no change.
Compared with a year ago, industrial employment
showed declines in all groups, except food, textiles, tobacco, and miscellaneous industries, which increased,
and paper and printing, which showed no change.
Factory pay-roll payments were likewise smaller
than in either comparative period. All industrial
groups showed smaller payments than in June, except

WHOLESALE PRICE COMPARISONS, BY GROUPS
[July, 1927, is latest month plotted]
300

280

100

sumers' goods. As compared with July, 1926, all
groups were lower in price, the greatest relative
decline being shown in producers' goods, which in
July were reduced to a level only 20 per cent above
the 1913 level.
The index of prices received by farmers for their
produce showed no change from the previous month
but was lower than a year ago. As compared with
the previous month, increases were registered in
prices for meat animals, dairy products and poultry,
and cotton sufficient to offset declines in grains,
fruits, and vegetables, and sundry unclassified items.
Compared with last year, all groups declined, except
grains, which increased, and fruits and vegetables,
which showed no change.



leather, which increased, and food, which showed no
change. As compared with July, 1926, all groups
showed declines except food, textiles, tobacco, and
miscellaneous industries, which showed larger payments, and leather and paper and printing, which
showed no change. The cost of living declined from
both the previous month and July of last year, the
principal decline from the preceding month being in
food costs. As compared with last year, shelter, food,
and clothing costs made the principal decline.
Reduced to a percentage of the number on factory pay
rolls, industrial accessions in July were smaller than in
either the previous month or a year ago, while voluntary
quits made similar comparisions with both prior periods.
Reports from State and municipal employment agencies showed more applicants per job than a year ago.

12
REVIEW BY PRINCIPAL BRANCHES OF INDUSTRY AND COMMERCE
TEXTILES

July wool receipts at Boston again increased over
the previous month and were larger also than in July,
1926, increases over both prior periods being due to
greater receipts of domestic wool. Imports of wool
were smaller than in June but slightly larger than a
year ago. The consumption of wool by textile mills
was considerably less than during the previous month
but slightly greater than a year ago. There was a
corresponding decline from the previous month in the
activity of wool machinery but a slight increase as
compared with July, 1926.
The consumption of raw cotton was considerably
larger than for the corresponding month of 1926 but

class of textiles, shown separately, being smaller than
in June, while unfilled orders also declined in every
case but one. Production and unfilled orders for
each kind of textiles were uniformly greater than a
year ago.
Fewer cotton spindles were active than in June,
while their rate of activity also showed a marked
decline. More spindles were active and the hours of
their operation considerably greater than a year ago.
Imports of silk were smaller than during either the
previous month or the corresponding month of last
year. The consumption of silk by textile mills was
slightly smaller than during June but greater than a
year ago. Stocks of raw silk at warehouses, on the

THE TEXTILE INDUSTRIES
[Relative numbers, monthly average 1923-1925 taken as 100. July, 1927, is latest month plotted]

1920

1921

1922

1923

1924

1925

1926

1927

1920

1921

1922

1923

1924

1925

1926

1927

1920

192|

1922

1923

1924

1925

1926

1927

1920

1921

1922

1923

!924

1925

1926

1927

smaller than during the previous month. Exports of
unmanufactured cotton also declined from June but exceeded those of a year ago. Stocks of cotton at mills
and in public storage continued to decline seasonally but
were slightly larger than at the end of June, 1926.
The cotton-finishing industry showed a slight decline in activity as compared with the previous month
but in most respects its business exceeded that of a
year ago, billings and new orders being less than in
June but greater than a year ago, while shipments
were^less and unfilled orders greater than for either
prior period. The output of cotton textiles also de
clined
from the previous month, the production of each


other hand, were considerably larger than for either
prior period. Imports of rayon were also smaller than
during the previous month but were much larger than
a year ago.
Prices of raw cotton and cotton textiles were uniformly higher than during the previous month; prices,
however, failed to evidence a uniform tendency as
compared with July, 1926. Prices of raw wool averaged higher than in June, while a slight advance was
recorded in yarn. Raw-wool prices showed little
change from a year ago, while the price of yarn and
dress goods declined. Raw-silk prices averaged lower
than for either prior period.

13
METALS

The consumption of iron ore and the production of
pig iron declined both from the previous month and
the corresponding month of last year. Shipments
from the mines and receipts at Lake Erie ports increased over the previous month but were less than a
year ago. Ore stocks were considerably larger than at
the end of last July.
The July output of steel ingots was smaller than for
either the previous month or the corresponding month
of last year. Unfilled orders of the United States
Steel Corporation, although less than a year ago, were
larger than at the end of June. The output of steel
sheets declined, both from the previous month and

Shipments of both types also declined from the previous month, although shipments of shelving exceeded
those of July, 1926.
The July production of copper at the mines was
smaller than for either the previous month or July,
1926. The refined copper output exceeded that of
June but was slightly smaller than a year ago. Stocks
of refined copper were larger and those of blister
copper smaller than for either prior period. Copper
prices averaged slightly higher than in June but
were 10 per cent below a year ago.
Imports and deliveries of tin were slightly larger
than during the previous month but were considerably
smaller than in July, 1926. The visible supply of tin
in the United States showed the same comparisons,

THE METAL INDUSTRIES
[Relative numbers, monthly average 1923-1925 taken as 106. July, 1927, is latest month plotted]

K)0

1920

192!

LlJ-Li i I ) JJ-LLLlL-l i I 1 1 I 1 LuilLLuJ i I I I lJjjJ_LLLj_L

1922

1923

1924

1925

1926

1927

1920

1921

1922

1923

1924

1925

1926 1927

1920

1921

1922

1923

1924

1925

1926

100

1920

1921

1922

1923

1924

1925

1926

1927

July, 1926, shipments and unfilled orders showing
similar conditions. New orders for steel sheets, however, exceeded those of the previous month, while
stocks were slightly larger than a year ago.
Production and new orders for steel castings declined
from both the previous month and July of last year.
Bookings of fabricated structural steel, on the other
hand, increased over both prior periods, while shipments, although the same as in the previous month,
declined from July, 1926. Bookings of fabricated
steel plate exceeded those of the previous month but
were slightly smaller than a year ago. New orders
for steel furniture, both in the business group and
shelving, declined from June and from a year ago.




1927

while the world visible supply was slightly smaller
than at the end of June and greater than a year ago.
The wholesale price of pig tin averaged lower than
in June but was higher than a year ago.
The July production of zinc was smaller than during
either the previous month or the corresponding month
of last year, the number of retorts in operation showing
similar comparisons. Zinc stocks also declined from
the end of June but were much larger than a year ago..
July prices were slightly higher than during the previous month but lower than a year ago. Shipments
both of zinc and of lead ore from the Joplin district
considerably exceeded those of the previous month
but were smaller than in July, 1926. Lead prices;
averaged lower than in either prior period.

14
THE FUEL INDUSTRIES
[Relative numbers, monthly average 1923-1925, taken as 100. July, 1927, is latest month plotted where data were available]

1920

1921

1922

1923

1924

1925

1926

1927

T920

F92T

T952

T923

T924

[925T926

1927

1926

1 1 1 1 1 1 1 i i 111
1927

• %

100
PRODUCTION
PRODUCTION

/

\ /T STOCKS

V
GASOLINE

CRUDE PETROLEUM
,1,.!
111111n

1923

1924

1925

1926

1927

1921

1923

1924

1925

FUELS

HIDES AND LEATHER

The production of coal, both bituminous and
anthracite, was considerably smaller during July than
in either the previous month or the corresponding
month of last year. Prices showed little change from
the previous month, bituminous prices being higher
and anthracite lower than a year ago. The production
of coke was slightly less than for either the previous
month or the corresponding month of last year, an
increase from June in the production of by-product
coke^being more than offset by a decline in the beehivecoke output. Coke prices were less than in June but a
little above last year's average.

The July imports of hides were considerably smaller
than during the previous month but exceeded those
of a year ago, all classes except cattle hides participating in the decline from the previous month. The
production of sole leather was larger than for either
the previous month or the corresponding month of
last year. Exports of leather, both sole and upper,
exceeded those of the previous month, upper leather
exports also surpassing those of a year ago. Prices
of hide and leather were substantially higher than for
either the previous month or the corresponding month
of last year. The July output of boots and shoes
was greater than during the previous month and also
exceeded that of a year ago.

AUTOMOBILES AND RUBBER

The July production (factory sales) of automobiles,
both passenger cars and trucks, was smaller than in
the previous month and with the exception of Canadian
trucks considerably smaller also than a year ago.
For the first seven months of the current year, passenger-car production in the United States was
375,000 or almost 16 per cent smaller than for the
corresponding months of last year. Truck production
fo r the year to date, however, was slightly greater than
a year ago. Imports of crude rubber exceeded those
of either the previous month or the corresponding
month of last year, while prices averaged lower than
for
either prior period.



PAPER AND PRINTING

Imports of wood pulp were slightly greater than in
June but declined from a year ago. The July output
and shipments of newsprint paper were smaller and
stocks at mills larger than for either the previous
month or the corresponding month of last year. New
orders for sales books were greater and shipments
smaller than for either prior period. The July output
and shipments of book paper, both coated and uncoated, declined from the previous month and,
except for the production of coated paper, from a
year ago as well. New orders for book paper were
greater than during the previous month but were
smaller than in July, 1926.

15
THE PAPER INDUSTRIES
[Relative numbers, monthly average 1923-1925 taken as 100. July, 1927, is latest month plotted]

GENERAL
1111IT11111 n1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 f 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 n1 1 1 1 1 1 1 1 1 1 1 1 1

1920

1920

1921

922

1923

1924

1922

1923

I

1925

1925

1926

1926

1927

1927

BUILDING

The volume of new building contracts, both in
square footage and in value, was smaller than in the
previous month. As compared with last year, floor
space was also smaller but the value of contracts was
greater than in July, 1926. All types of buildings
showed declines from June in value and all types
except commercial buildings showed declines in square
footage. Increases from a year ago in square footage
of contracts awarded for commercial and public
buildings failed to offset declines in other types.
July fire losses were smaller than in either the preceding month or the corresponding month of last year.
LUMBER AND LUMBER PRODUCTS
Lumber production was almost uniformly less than
for the previous month, the only increase recorded
being for North Carolina pine. The output of
lumber was generally larger than a year ago, only
southern, California white, western, and northern
pine showing declines from July, 1926. Shipments
of lumber were uniformly smaller than for either the
previous month or the corresponding month of last
year. Increases from June were recorded in new
orders for northern pine and walnut lumber and from
a year ago in new orders for California redwood.
Stocks of lumber were generally larger than in either
prior period, the only declines from last year being
for California white and western pine, walnut lumber,
and gum. The output of flooring was less than in the




1920

1921

1922

1923

1924

1925

I

previous month, oak flooring production being less
and maple flooring greater than a year ago. New
orders and shipments of flooring were less than for
either prior period. Flooring stocks were greater
and unfilled orders less than at the end of June.
STONE AND CLAY PRODUCTS

The July output and shipments of face brick were
smaller than for either the previous month or the
corresponding month of last year. Stocks, while
slightly lower than at the end of June, considerably
exceeded those of a year ago and unfilled orders were
lower than for either prior period. The tonnage of
architectural terra cotta ordered, although larger than
for the previous month, was less than a year ago.
The production of Portland cement exceeded that
for either the previous month or the corresponding
month of last year. Cement shipments and stocks,
although slightly smaller than in June, were greater
than a year ago.
CHEMICALS

Receipts of turpentine and rosin were less than in
June but greater than a year ago. Stocks, on the
other hand, were greater than for either prior period.
Prices of naval 'stores declined slightly from the previous month and were considerably lower than for
July of last year. Imports of potash and nitrate of
soda were considerably larger than for either the
previous month or the corresponding month of last
year. Exports of fertilizers also exceeded those of
either prior period.

16
FOODSTUFFS AND TOBACCO

The visible supply of wheat was larger than at the
end of the previous month or the corresponding month
of last year. Receipts, shipments, and exports also
exceeded those of the previous month but were less
than in July, 1926. Receipts and shipments of corn
were less than in June but larger than a year ago, the
same tendency being exhibited in the case of corn
grindings. July receipts and exports of oats were
less than in either prior period Exports of barley
were greater than for either the previous month or a
year ago.
Receipts and shipments of cattle, calves, sheep, and
lambs were less than during either the previous month

of last year. Cold-storage holdings, both of butter
and cheese, continued to increase seasonally and were
larger than a year ago. Receipts of poultry and eggs
were less than during either prior period. Coldstorage holdings of poultry were less and those of eggs
only slightly larger than at the end of June, although
the holdings of both exceeded those of a year ago.
July imports of sugar were larger than during either
the previous month or the corresponding month of
last year. Sugar meltings and stocks, however, were
less than for either prior period. Receipts of sugar at
Cuban ports continued to decline and were slightly
less than a year ago. Exports from Cuba were less,
than for June but greater than a year ago.

THE FOODSTUFFS INDUSTRIES
[Relative numbers, monthly average 1923-1925 taken as 100. July, 1927, is latest month plotted]

1920

1920

1921

1922

1923

1924

1925

1926

1927

1920

1922

1923

1924

1925

1926

1927

[920

or the corresponding month of last year. Receipts
and shipments of hogs were also less than in June
but larger than a year ago. Exports of beef products
were larger and those of pork products smaller than
during the previous month. Cold-storage holdings
of beef and mutton were smaller and those of pork
larger than at the end of either the previous month
or July, 1926. Prices of cattle averaged higher than
during June or a year ago. Prices of pork and mutton
were generally above the previous month but were
lower than during July, 1926.
Receipts of cheese were greater and those of butter
smaller than during either the previous month or July



1921

1922

1923

1924

1925

1926

1927

1922

1923

,1924

1925

1926

1927

Imports of coffee during July were less than during
either the previous month or the corresponding month
of last year. The visible supply of coffee in the United
States was also less than for either prior period, but the
world supply exceeded that at the end of June and
was almost as great as a year ago. Imports of tea were
larger than during the previous month but considerably
less than in July, 1926. Tea stocks in Great Britain
were less than at the end of either prior period.
Exports of unmanufactured leaf tobacco and of
cigarettes were less than during either the previous
month or the corresponding month of last year. Leaftobacco prices were slightly above those of June but
less than a year ago.

17
TRANSPORTATION

July car loadings were 6 per cent less than for the
corresponding five weeks of last year, all classes of
goods being loaded in smaller quantities than a year
ago. Traffic on the inland waterways of the Great
Lakes region was less than during either the previous
month or the corresponding month of last year.
Traffic on the Mississippi River and its tributaries, however, exceeded that of the previous month, although
traffic on the Monongahela and the Ohio Rivers below
Pittsburgh was less than in July, 1926.

of a year ago, total investments and net-demand
deposits showing similar conditions. Brokers' loans at
the end of the month were larger than at the end of
either the previous month or July, 1926. Interest
rates on call loans were lower and those on commercial
paper higher than for either prior period. Prices of
stocks continued to increase and were considerably
higher than in July, 1926. Fewer business firms failed
during July than during the previous month, but more
than a year ago. The liabilities of failing concerns,
however, exceeded those of either prior period.

BANKING AND FINANCE
[Relative numbers, monthly average 1923-1925 taken as 100. July, 1927, is latest month plotted]

1920

1921

1922

J923

J924

1925

1926

1927

1920.

1921

1922

1923

1924

1925

1926

1927

BUSINESS PROFITS AND LOSSES
I I I ! I I M I I I I I I I I I I I I I I I I I I I I I I I I I I i I i | I 11 I I I I I | I I I I | I I i | |_l_i

1920

1921

1922

1923

DISTRIBUTION

1924

1925

1926

1927

MOVEMENT

Sales by mail-order houses and 10-cent chain stores
were smaller than during June but larger than a year
ago. Magazine advertising again declined from the
previous month but was larger than a year ago; newspaper advertising was less than for either prior period.
Postal receipts in the 100 important cities were less
than during either the previous month or the corresponding month of last year.
BANKING AND FINANCE

Check payments, both inside and outside of New
York City, were smaller than during the previous
month, those in New York City, however, being considerably in excess of a year ago. Loans and discounts of Federal reserve member banks were also
slightly less than at the end of June, but exceeded those
60578—27
3




1920

1921

1922

1923

1924

1925

1926

I I

1927

GOLD AND SILVER AND FOREIGN EXCHANGE

July receipts of gold at the mint exceeded those of
the previous month and of last year. Imports and
exports of gold, however, were considerably smaller
than for either prior period. The domestic production
of silver was slightly larger than for either the previous
month or the corresponding month of last year. Silver
stocks in the United States greatly exceeded those at the
end of the previous month and were somewhat larger
than a year ago. Silver imports were smaller than during either prior period, and exports, though larger than
in June, were considerably less than a year ago.
Exchanges on the principal countries showed little
change from the previous month, there being slight
advances in rates on Switzerland, Japan, and Argentina and slight declines in the rate on Italy and India.
Compared with a year ago, rates of exchange on
France, Italy and Argentina increased, while Brazilian
exchange exhibited a marked decline.

18

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 form of this table
is given on page 9.
Maximum
since
Jan. 1,
1920

1996

Minimum
since
Jan. 1,
1920

May

June

PER CENT INCREASE (+) OR
DECREASE ( — )

1927

July

May

June

July, 1927,
from
June, 1927

July

July, 1927,
from
July, 1926

PRODUCTION
!

(Relative to 1919 monthly average as 100)
KAW M 1TERIALS

Grand total

180

73

94

99

116

106

103

105

+ 1.9

165
242
155
122
273
152
193
149
131
145

62
105
41
0
0
17
78
38
57
80

135
198
101
110
156
146
177
142
71
107

144
196
108
122
223
141
168
127
69
110

150
206
112
115
254
143
169
126
84
99

145
242
91
110
197
142
181
133
68
102

145
236
94
99
215
138
184
126
67
104

141
248
87
67
219
130
182
126
93
107

-2.8
4-5. 1
-7.4
-32.3
+ 1.9
-5.8
-1. 1
0. 0
+ 38. 8
+ 2. 9

-0.6
+ 20. 4
-22.3
41 7
-13.8
-9. 1
+ 7.7
0.0
+ 10.7
+ 5.1

118
77
91
81
76
190
83
128
148

121
127
91
84
85
178
108
161
148

115
253
89 i
76 1
77
117
106
170
152

134
101
95
97
89
212
102
145
153

124
259
84
101
80
149
109
156
155

113
314
77
82
73
103
92
157
158

-8.9
+ 21. 2
-8.3
-18.8
-8.7
-30. 8
-15. 6
+ 0.6
+ 1.9

-1.7
+ 24. 1 !
-13. 5
+ 32.9
-5.2
-12. 0
-13.2
-7.6
+ 3.9

57
56
124
128
43
22

63
87
175
70
20
26

103
175
138
224
12
20

70
67
143
154
58
19

69
83
165
114
32
18

83
143
135 !
135
13

*7. O

MINERALS

Total
Petroleum
Bituminous coal
Anthracite coal
Iron ore*_
Corjper
Lead
Zinc
Gold
Silver

_

_ -

ANIMAL PRODUCTS (marketings)

Total
Wool*
Cattle and calves
Hogs
Sheep
Eggs*
Poultry
Fish
___
Milk (New York)

138
259
143
177
153
245
390
185
190

80
19
58
64 i
54
30
21
45
94

246
242
254
405
346
170

49
43
58
50
12
18

CROPS (marketings)

1

Total
Grains*
Vegetables*
Fruits*
Cotton products*
Miscellaneous crops*

- --

!
!
;
!

I

FOREST PRODUCTS

Total
Lumber
Pulp wood
Gum (rosin and turpentine) *
Distilled wood

+ 20.3
+ 108. 4
-18.2
+ 18.4
-59. 4
-11. 1

-19.4
— 1.1
-2.2
-39. 7
+ 8. 3
-20. 0

^

136
137
164
356
149

61
59
51
20
24 !

131
129
132
172
105

128
125
100
263
91

119
118
72
271
88

126
119
127
292
93

124
117
96
356
94

115
110
70
319
92

-7.3
-6.0
-27. 1
-10. 4
-2. 1

-3.4
-6. 8
-2.8
+ 31. 4
+ 6.8

138
142
135
133
152
166
115
127
210
177
195
147
164

71
68
77
54
32
57
63
69
92
69
71
70
37

130
130
113
96
135
151
73
123
172
164
180
118
147

131
131
126
97
128
149
80
124
170
170
181
135
141

127
127
128
95
125
144
78
123
177
174
173
128
132 |

138
138
135
117
135
141
85
111
189
168
167
131
153

132
135
135
127
146
148
121
105
118
108
142
134
89
89
114
104
184 | 188
178
178
172
161
136
129
137
120

-2.2
-5.9
+ 1.4
-13.9
-8.5
-5.6
0. 0
-8.8
+ 2.2
0.0
-6.4
-5. 1
-12.4

+ 3.9
0.0
+ 15. 6
+ 10.5
-13.6
-6.9
+ 14.1
-15.4
+ 6.0
+ 2.3
-6.9
+ 7.8
-9. 1

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

i
1
i
i

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




19
INDEXES OF BUSINESS—Continued
Maximum
since
Jan. 1,
1920

Minimum
since
Jan. 1,
1920

198
346
201
121
201

PER CENT INCREASE (+) OR
DECREASE (— )

1927

1926

June

July, 1927,
from
June, 1927 |

July

July, 1927,
from
July, 1926

May

June

94
73
85
58
86

165
235
149
85
170

164
240
145
81
169

169
256
134
89
172

181
250
178
88
189

178
255
168
89
185

188
286
161
86
194

+ 5.6
+ 12.2
-4. 2
3 4
+ 4. 9

+ 11.2
+ 11.7
+ 20. 1
-3.4
+ 12.8

199
306
204
115
199

85
70
64
56
88

152
215
131
65
170

160
237
123
79
171

153
203
110
97
173

165
225
145
72
188

163
236
134
89
184

164
217
120
98
191

+ 0.6
-8. 1
-10.4
+ 10. 1
+ 3. 8 |

+ 7.2
+ 6.9
+ 9. 1
+ 1.0
+10.4

116
112
153

40
30
25

48
36
100

48
36
98

48
37
94

48
31
118

43
30
96

40
31
78

7.0
+ 3.3
-18.7

-16.7
-16. 2
-17. 0

July

May

STOCKS
(Relative to 1919 monthly average as 100) (Corrected for seasonal variation)
Total

Raw foodstuffs
Raw materials for manufacture.
Manufactured foodstuffs
Other manufactured commodities. _ _
(Unadjusted index)

Total
Raw foodstuffs _ _
Raw materials for manufacture-Manufactured foodstuffs. _ _ _ _ _ _
Other manufactured commodities
UNFILLED ORDERS
!
I

(Relative to 1920 monthly average as 100)
(Iron, steel, and building materials)

Total (8 commodities)
Iron a n d steeL _ _ _
Building materials
WHOLESALE TRADE

i
i

(Relative to 1919 monthly average as 100)
(Distributed by Federal reserve districts)

1

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

_ __

126
129
136
135
133
150
189

60
59
43
62
88
58
146

82
108
60
80
111
78
81

84
82
105 - 98
52
59
84
86
114
116
77
78
80
78

79
100
56
81
113
71
74

81
102
58
86
115
74
72

79
94
53
79
118
75
72

-2.5
-7. 8
8 6
8. 1
+ 2. 6
+ 1.4
0. 0

-3.7
-4. 1
+ 1.9
-6.0
+ 3. 5
-3.8
-7.7

170

49

105

113

98

106

114

100

12.3

+ 2.0

466
223
387
261
222
303
215

84
55
119
109
106
109
72

214
109
322
188
160
220
174

204
118
309
184
152
204
153

206
108
316 1
195
155
210
145

224
88
383
206
157
216
143

224
87
399
210
151
215
155

221
80
373
217
153
211
140

-8.0
-6.5
+ 3.3
+ 1. 3
-1. 9
-9. 7

+ 7.3
-25.9
+ 18.0
+ 11. 3
-1. 3
+ 0.5
-3. 4

234
156

80
100

137
138

130
131

99
124

131
138

130
129

97
124

-25. 4
-3.9

-2.0
0.0

92
87
86
93
92
86
103
95
102
99
84
94
96

91
89
84
93
92
85
103
94
104
96
87
92
95

90
89
80
92
92
89
102
93
101
94
84
91
93

90
87
87
88
84
86
103
94
99
94
82
87
100

89
91
86
87
84
85
102
90
99
91
85
85
99

87
90
84
85
84
88
102
89
94
90
85
82
94

-2.2
-1. 1
-2.3
-2.3
0.0
+ 3.5
0.0
-1. 1
* -5. 1
-1. 1
0.0

3.3
+ 1.1
+ 5.0
-7.6
-8.7
-1. 1
0.0
-4.3
-6.9
-4.3
+ 1.2
-9.9
+ 1. 1

RETAIL TRADE
(Relative to 1919 monthly average as 100)
MAIL-ORDER HOUSES (4 houses)

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

1 O
Q
J-.

EMPLOYMENT
(Relative to 1923 monthly average as 100)

Number employed, by industries:
Total, all classes
Food products
Textiles _
Iron and steel
LumberLeather. _
__ _
_
...
Paper and printing
_
Chemicals
Stone, clay, and glass
Metal products other than iron and steel.
Tobacco products .
Vehicles .
_
Miscellaneous _



i Since Jan. 1,1921.

2

2
2
2
2
2
2
2
2
2
2
2
2

102

107
103
104
103
105
104
105
105
107
108
103
107

2
2
2
2
2
2
2
2
2
2
2
2
2

85
86
81
79
83
83
93
84
89
66
78
75
80

1
j
1
!

1

Since July 1,1922.

0 K
O. O

-5. 1

20

INDEXES OF BUSINESS—Continued

1
Maximum

since

Jan. 1,
1920

PER CENT INCREASE (+) OR
DECREASE (— )

1927

1926

Minimum

since

Jan. 1,
1920

May

June

July

May

June

July

July, 1927,
from
June, 1927

July, 1927,
from
July, 1926

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
Metal products other than iron and steelTobacco products
Vehicles
Miscellaneous

2
2
2
2
2
2
2
2
2
2
2
2
2

2 74
2
85

89
96
84
85
89
87
109
95
97
87
87
81
100

-4.3
0.0
-2.3
-7.6
-4.3
+ 4.8
-1. 8
5 0
-5.4
-1. 1
-5.8
-4. 8

-2.2
+ 2.1
+ 10. 5
-8. 6
-6.3
0.0
0.0
2. 1
-6. 7
-5.4
+ 2.4
-8.0
+ 3.1

130
140
201
129
124
119
82

130 i
139 1
195
131
125
125
81

0,0
-0. 7
-3. 0
+ 1.6
+ 0.8
+ 5.0
-1.2

-4.4
+ 11. 2
0.0
-13.8
4 6
-0.8
-4.7

144
137
148
170
158
121
166
122
157
120

144
138
146
170
159
120
164
122
157
121

145
141
146
171
159
119
162
121
157
121

+ 0.7
+ 2. 2
0.0
+ 0. 6
0.0
-0.8
-1. 2
-0. 8
0.0
0.0

-4.0
0.0
-5. 2
1 2
-10. 2
-5. 6
-5.8
-7.6
-2.5
1 6

127
162
153

121
155
146

120
154
147

120
154
149

0.0
0. 0
+ 1.4

-5.5
-4. 9
-2.6

154
138

153
137

155
135

153
134

154
137

+ 0.7
+ 2. 2

+ 0.7
0.0

167
160
176
174
158
179
118
172

166
157
176
173
158
179
118
174

164
155
170
171
160
179
122
173

165
159
169
169
160
180
122
172

162
153
168
169
160
180
122
173

-1.8
-3.8
-0. 6
0.0
0.0
0.0
0.0
+ 0. 6

-2.4
-2.5
-4.5
-2.3
+ 1.3
+ 0.6
+ 3.4
-0.6

72
62
84
79
88
85
84
70
78
60
72

96
92
83
98
98
79
111
100
110
100
83
97
100

96
94
81
98
100
83
111
100
112
98
89
95
100

91
94
76
93
95
87
109
97
104
92 '
85
88
97

93
96
96
93
86
87
94
92
93 - 93
83
82
111
113
100
100
106
108
92
95
88
85
86
94
105
109

235
283
373
186
215
304
180

110
88
108
91
122
76
74

139
131
240
148
131
130
82

139
130
216
154
130
132
81

136
125
195
152
131
126
85

126
127
158
137
130
113
79

248
243
248
346
281
203
300
213
275
208

138
114
131
168
158
109
155
121
157
111

152
144
154
176
179
125
172
131
162
125

152
144
157
175
179
125
171
131
162
123

151
141
154
173
177
126
172
131
161
123

244
249
249

118
146
135

129
163
154

128
165
154

155
139

168
155
161
139
143 | 176
153
175
3
156
158
174
179
118
118
173
171

105
107
106
108
106
108
116
110
112
110
112
107
112

2
2
2
2
2
2
2
2
2
2
2

o. O

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

All groups

Grains
Fruits and vegetables
Meat animals
Dairv and poultry
Cotton and cottonseed
Unclassified
WHOLESALE PRICES
Department of Labor Indexes
(Relative to 1913)
All commodities

Farm products
Food, etc
Cloths and clothing
Fuels
.
_ _ __
Metals and metal products
Building materials
Chemicals
House-furnishing goods
Miscellaneous
Classified by state of manufacture:
Producers' goods
Consumers' goods
Raw materials

1

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

218
227

134
115 i

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

205
219
186
288
3
179
208
123
192

All items weighted

Food (Dept. Labor)
Shelter
Clothing _ _
Fuel and light
Fuel
Light
Sundries




2

Since July 1, 1922.

3 Since Jan. 1, 1923.

21
NEW YORK STATE FACTORY EMPLOYMENT AND PAY ROLL
1914

1915

1916

1917

1918

1919

1920

1931

1933

1933

1934

1935

1936

1937

MONTH

EMPLOYEES— Number
January
February
March
April

May

461, 649
473, 228
473, 731
477,255

551, 429
563,061
569, 105
578, 730

606, 985
610,044
618, 427
608, 648

610, 681
619,849
625, 714
619, 297

570,461
563,645
559, 778
559, 743

619,903
613, 579
631, 040
622, 507

467,003
475, 620
480, 305
470, 766

463,838
478, 493
484, 341
478,048

547, 743
553, 938
566, 999
565, 515

534,808
540, 185
542, 141
524, 603

496, 556
505, 457
510, 734
501, 049

511, 870
514, 968
516, 483
509, 267

485, 551
491, 229
494, 268
487, 385
480, 120
479, 147
470,811

June.
July.
August

503, 434
485, 814
462, 656

486, 317
491, 352
486, 317
482, 793

567, 775
572, 863
567, 106
575, 647

604, 314
597, 197
594, 290
584, 162

617, 528
619, 209
629, 113
616, 110

554, 588
553,093
567, 248
579, 161

613, 139
610, 971
607, 577
595, 306

461,390
452, 556
444,071
443,486

482, 257
489, 618
489, 892
501, 290

560, 305
555, 292
551, 422
546,268

502, 801
489, 367
470, 422
470, 894

494, 513
491, 000
485, 870
487, 238

498, 419
496, 415
484, 660
488, 603

September .
October
November .
December. .

483, 800
479, 773
469, 200
463, 663

508, 972
511,489
533, 137
541. 694

590, 294
594, 805
607, 242
613, 485

595, 108
606, 415
611, 565
613, 144

614, 105
586, 140
605, 793
600, 513

584, 978
576, 848
592, 614
613, 348

587, 596
576, 686
545, 386
505, 500

460, 648
471, 796
471, 328
471, 432

511, 225
527, 738
539, 874
547,886

548,606
555, 786
547, 738
541,088

489, 212
495, 131
495, 203
499, 045

499, 946
509, 895
512, 809
515, 919

500, 362
506, 119
499, 594
494, 869

Mo. av... 2 478, 334 493, 995

579, 295

604, 192

613, 671

572, 959

594, 099

464, 200

499, 542

553, 392

504, 484

500, 916

501, 802

WEEKLY PAY BOLL— Dollars
5, 754, 435
5, 906, 535
6, 026, 947
6, 014, 272

7, 458, 160
7, 754, 596
7, 945, 683
8, 190, 069

9, 274, 669 10, 265, 896 12, 867, 392 16, 438, 097
9, 338, 556 10, 946, 330 12, 439, 812 16, 243, 366
9, 763, 971 11, 705, 145 12, 447, 578 17, 586, 168
9, 433, 037, 11, 916, 054 12, 374, 355 17, 302, 795

12, 894, 300
12, 734, 086
12, 954, 801
12, 334, 856

6, 210, 734
6, 337, 484 6,274,109
6, 039, 622 6,255,097
5, 741, 761 6, 261, 434

8, 083, 271
8, 255, 945
8, 002, 681
8, 314, 275

9, 715, 035
9, 675, 319
9, 612, 106
9. 605, 328

12, 293, 590 12, 330, 827
12, 656, 280 12, 458, 374
13, 074, 717 13, 102, 889
13, 078, 708 13, 810, 386

17, 441, 261
17, 576, 440
17, 306, 917
17, 090, 675

11,929,491 11, 856, 924
11, 634, 722 12, 198, 811
11, 218, 676 12, 136, 005
11, 280, 005 12, 579, 738

8, 775, 664 10, 098, 597
8, 892, 219 10, 512, 066
9, 208, 102 10, 816, 398
9, 513, 806 10, 861, 153

13, 697, 693 14, 526. 221
13, 116, 434 14, 082, 776
13, 098, 391 15, 031, 706
13, 920, 943 16, 142, 752

16, 884, 230 11, 549, 511 13, 145, 427 15, 039, 390 13, 720, 023 14, 162, 067
16, 680, 706 11, 571, 347 13, 513, 901 15, 410, 137 13, 631, 914 14, 566, 213
15, 654, 526 11, 464, 939 14, 060, 711 15, 140. 830 13, 698, 006 14, 699, 899
14, 329, 917 11, 744, 413 14, 459, 745 15, 144, 105 14, 100, 766 14, 983, 220

January
February
IVTarch
April

May
June . .
July
August

September .6, 014, 272 6, 527, 609
5, 874, 848 6, 787, 445
October
November . 5, 779, 785 7, 180, 369
December. _ 5, 805, 135 7, 319, 794

11, 330, 244
11, 563, 186
11,901,284
11, 546, 251

14, 356, 181 14, 873, 595 14, 050, 365 14, 867, 989 14, 331, 069
14, 329, 110 14, 975, 285 14, 133, 386 14, 731, 418 14, 464, 555
15, 262, 197 15, 264, 355 14, 532, 044 14, 996, 568 14, 717, 340
15, 269, 503 14, 532, 551 13, 865, 181 14, 694, 654 14, 214, 258
15, 483, 677
15, 460, 139
15, 184, 144
14, 815, 909

13, 859, 048
13, 317, 195
12, 725, 951
12, 905, 871

13, 885, 018
13, 716, 591
13, 593, 718
13, 722, 278

14, 298, 627 14, 009, 538
14, 390, 165 13, 976, 836
13, 965, 891 13, 631, 912
14, 102, 963
14, 664, 081
14, 853, 027
14,558 172
14, 583, 781

Mo. av.__ 25,941,844 6, 376, 565 8, 366, 206 9, 892, 186 12, 480, 848 13, 467, 922 16, 711, 258 11, 942, 596 12, 524, 352 15, 074, 603 13, 967, 047 14, 159, 165 14, 558, 945
]

1 Figures represent reports from 1,648 firms in New York State employing more than one-third of the factory workers of the State, as reported by the New Ycrl State
Department
of Labor.
2
Seven month's average.
1

WALDORF SYSTEM (INC.): RESTAURANT SALES

1933

1933

1935

1934

1936

1937

1933

1933

1934

1935

1936

| 1937

MONTH
THOUSANDS OF DOLLARS

January
TVT

h

April

- -

June
- July
August
September
October
November
December
_- -Total
Monthly averages

1,088
1,064
1,104

-

__

1,183
1,233
1,199
1,246
2 13, 527
1.127

NUMBER OF STORES

1,225
1,132
1,323
1,251

1,253
1,240
1,284
1,241

1,256
1,142
1,249
1,208

1,282
1,186
1,337
1,266

1,267
1,154
1,284
1,382

1,322
1,244
1,229
1,272

1,295
1,183
1,160
1,175

1,275
1,249
1,178
1,197

1,225
1,171

1,278
1,329
1,251
1,303

1,223
1,256
1,224
1,309

1,230
1,138
1,152
1,172
1,232
1,342
1,248
1,377

15, 159
1,263

14, 843
1,237

14, 746
1,229

1,326
1,335
1,259
1,373
15, 263
1,272

106
106
106
109
110
112
114

114
115
116
117
117
118
119
120
120
120
121
123

109

118

123
124
127
127

122
123
123
122

128
128
128
128

122
122
122
122

126
126
U6
127
127
128
129
129

128
125
125
125

123
124
125
126

131
131
130
131

126

123

128

132
132
132.
131
131
131

1 Data reported directly to the Bureau of the Census and include the sales by the Ginter Co., which was absorbed in February, 1927, by the Waldorf System, Inc., the
consolidated
figures being comparable throughout the period covered.
2
Total includes undistributed estimate for the Ginter Co. for the first five months of the year as well as actual monthly data for the Waldorf System, Inc., covering this
same period.

ELECTRICAL EQUIPMENT 1

YEAR AND MONTH

ELECTRICAL PORCELAIN SHIPMENTS

WELDING SETS,
NEW ORDERS

Unglazed
nail knobs

Single Multiple
operator operator

Glazed nail
knobs

Tubes

1926

2, 843, 985
2, 323, 620
3, 390, 555
3, 107, 000
3, 357, 860

865, 850
2, 010, 555
1, 120, 525
1, 501, 600
2, 123, 330

1, 370, 535
1, 531, 570
1,507,920
1, 218, 080
2, 106, 920

1,610

133

119
138
142
153
136
139
118

16
12
7
12
7
12
8

i Compiled by the National Electrical Manufacturers' Association. Data on electrical porcelain are furnished by 14 companies, representing about 75 per cent of
the industry; details by package sizes, with price range and averages are presented
in the association's reports. Data on welding sets are furnished by 6 companies,
representing about 90 per cent of the industry. Details of single-operator variable
voltage sets by ampere capacities are presented in the association's reports as well
as the total ampere capacity of the multiple operator constant-potential sets.




SHIPMENTS i
TOTAL
YEAR
AND
MONTH

Units

Number

1927:
January
February
March
April
May
June
Julv
:

ENAMELED SHEET-METAL WARE

1927

January. ..
February .
March
April
May
June

Quantity
(doz.)

Value

350, 748 $1, 186, 892
372, 452 1, 335, 312
440, 671 1, 484, 420
337, 181 1, 192, 808
318, 071 1, 103, 693
292, 358 1, 025, 361

WHITE

GREY

COLORED

Quantity
(doz.)

Value

Quantity
(doz.)

Value

Quantity Value
(doz.)

197, 278
202, 633
240, 867
175, 187
158, 058
142, 314

$792, 106
910, 443
995, 142
768, 265
698, 879
640, 373

140, 267
150, 634
172, 673
143, 257
140, 210
135, 027

$345, 363
359,211
403, 112
344, 871
325, 569
315,317

13, 203 $49, 423
19, 185 65, 658
27, 131 86, 166
18, 737 79, 672
19, 803 79, 245
15, 017 69, 671

Total (6
mos.) . 2, 111, 481 7, 328, 486 1, 116, 337 4, 805, 208 882, OC8 2, 093, 443 113, 076 429, 835
1
Compiled by the U. S. Department of Commerce, Bureau of the Census, from
reports of 18 manufacturers comprising about 80 per cent of the industry, the data
including cooking, household, and hospital utensils having a vitreous coat on a
sheet steel or iron base but excluding equipment such as stoves, heaters, signs, etc,

22

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, 1927), in which monthly figures for 1926 and 1927 may be found, together
with explanations as to the sources and exact extent of the 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.
ERRATA IN AUGUST, 1927, ISSUE

Page 55.—Inspected slaughter, Canada, unit should read number of animals.
Page 57.—Gloves, glove leather, unit should read thousands
of skins.
Page 67.—Lumber, all species, composite prices, hardwoods,
1926 monthly average should read $41.56.

Page 121.—New business, industrial, number of policies July,.
1926, should read 716,607.
Page 121.—New business, ordinary, number of policies, June,
1927, should read 236,429.
Page 143.—Roofing, production and stocks, should read 76.

1927

The cumulatives shown are through
July, except where otherwise notedEarlier data for items shown here may
be found on pages 23 to 133 of the
August, 1927, " Survey "

March

April

PER CENT INCREASE (+) OR
DECREASE (— )

1926

June

May

July

June

July,
1927,
from
June,
1927

July

j

TEXTILES

1926

1927

Per ct.
increase
(+)
or decrease
(-)
cumulative
1927
from
1926

i
j

Wool
Receipts at Boston:
Total
thous. of Ibs
Domestic
thous. of Ibs
Foreign
.
.thous. of Ibs
Imports:
In condition imported.
thous. of lbs._
Grease equivalent
thous. of Ibs
Consumption by textile mills,
grease equivalent
thous. of Ibs
Stocks, grease equivalent, end of quarter:
Total
__thous. of Ibs i
Held by manufacturers.
thous. of lbs__ i
Held by dealers
thous. of Ibs i
Machinery activity, hourly:
LoomsWide
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 spindles—
Woolen
per ct . of hours active. .
Worsteds
per ct. of hours active
Prices:
Raw, territory, fine, scoured. .dolls, per lb._
Raw, Ohio and Pa. fleeces,
% blood, combing, grease.. .dolls, per lb_.
Worsted yarn
dolls, perlb..
Women's dress goods, French
serge
dolls, per yd
Men's suiting..
dolls, per yd..

July,
1927,
from
July,
1926

CUMULATIVE TOTAL
FROM JANUARY 1
THROUGH JULY 31

27, 436
8,600
18, 836

28, 025
9,522
18, 503

26, 394
17,938
8,456

50, 598
46,106
4,492

60, 980
55, 877
5,103

30, 224
22, 631
7,593

50, 675
45, 162
5,513

+20.5 1 +20.3
+21. 2 +23. 7
+13.6
-7.4

262, 504
111,878
150, 626

242, 869
150, 701
92, 168

-7.5
+34.7
-38. 8

33, 457
37,617

29, 239
33, 177

18, 117
20, 362

17, 355
20, 149

13, 464
15, 079

13, 456
12, 336

12, 545
12, 794

-22.4
+7.3
-25.2 ! +17.9

211,651
222, 468

173, 246
195, 101

-18.1
-12.3

54, 262

43, 971

44, 338

45,006

39, 833

38, 249

38, 236

-11.5

+4.2

278, 685

319, 737

+14.7

-1.5
-64.5
-13.6 +157. 6

4,083
227, 341

6,059
263, 976

+48.4
+16.1

3, 475, 092
3, 857, 733

5, 610, 718
4, 373, 268

+61.5
+ 13.4

2
2
2

3
3

+32 2 ' —3.0
+1.0
+3.5
+67.9
-5.8

291 657
161,708
129, 948

_.

61
63
66
80
81

57
60
67
78
77

58
61
67
80
74

60
67
64
84
73

56
58
56
77
75

57
57
58
75
68

53
53
55
68
68

-6.7
-13.4
-12.5
-8.3
+2.7

+5.7
+9.4
+1.8
+13.2
+10.3

77
66

77
63

80
61

79
61

76
59

71
59

66
56

-3.8
-3.3

+ 15.2
+5.4

1.08

1.08

1.08

1.09

1.13

1.10

1.14

+3.7

-0.9

.44
1.38

.43
1.35

.41
1.33

.42
1.33

.44
1.35

.42
1.40

.43
1.40

+4.8
+1.5

+2.3
-3.6

.98
3.29

.98
3.29

.98
3.29

.98
3.29

.98
3.29

1.05
3.29

1.05
3.29

0.0
0.0

-6.7
0.0

865
37, 519

686
21,347

363
36, 055

< 13,6 492
457
129
31, 147

225
22, 137

« 18,6 618
182
131
12, 090

855, 449
619, 140

628, 132
633, 024

481, 943
662, 630

389, 358
569, 250

5,571
1,895
3,676

4,663
1,794
2,869

3,772
1,608
2,164

3,227
1,404
1,823

7,380
5,718

6,507
4,815

5,654
4,014

32, 892
8,805
238
105.8

32, 907
9,002
244
109.0

32, 753
9,192
249
109.2

I

385, 615
167, 426
218, 189

397, 446
165, 776
3 231, 670

Cotton
Production, crop estimate
thous. of bales..
Ginnings
thous. of bales _
Receipts into sight
thous. of bales..
1,260
Imports, unmanufactured
bales. . 41, 267
Exports, unmanufactured
(including linters)
bales 1, 129, 537
Consumption by textile mills
_ bales
694, 193
Stocks, domestic, end of month:
6,472
Total, mills and w 'houses ..thous. of bales. _
Mills
thous. of bales
1,980
Warehouses
. thous. of bales..
4,492
Stocks, world visible, end of month :
Total
-_ thous. of bales _
7,795
American
thous. of bales
6,178
Machinery activity of spindles:
Active spindles
thousands.. 32, 919
9,629
Total activity
millions of hours
Activity per spindle
hours..
260
109.7
Ratio to capacity
per cent..
Prices:
To producer
dolls, per Ib
.125
In New York, middling
dolls, per lb_.
.144
12 Quarter ending March 31, 1927.
Quarter ending June 30, 1927.




.

.123
.146

346, 533 ' 366,722
518, 607 461, 743

-19.2
-14.1

+6.2
+23.3

3,679
1,269
2,410

3,033
1,097
1,936

-14.4
-12.7
-15.8

+6.4
+28.0
-5.8

4,988
3,417

4,315
2,763

+35.3
3,686 -11.8
2,284 | -14.9 +49.6

32, 312
8,043
219
99.1

31, 756
7,607
202
88.4

.139
.148
.155
.163
.168
.180
s Quarter ending June 30,1926
« As of August, 1927.

.161
.186

-1.3
31, 057 i
6,750 -12.5
180 : -12.0
78.7 ; -9.2

+4.0
+19.2
+21.7
+25.9

+4.7
+0.6
.154
-3.7
.187 i +7 1
« Final estimate for 1926.
6
As of Aug. 16.

23

TREND OF BUSINESS MOVEMENTS—Continued
1927

The cumulative* shown are through
July, except where otherwise noted.
Earlier data for items shown here may
be found on pages 23 to 133 of the
August, 1927, "Survey"

PER CENT INCREASE (+) OR

1926

DECREASE (—)

July,

CUMULATIVE TOTAL
FROM JANUARY 1
THROUGH JULY 31

Per ct.
increase
( }
or tdecrease
(-)
cumulative
1927
from
1926

June

July

from
June,
1927

July,
1927,
from
July,
1926

1926

72, 334

78, 161

65, 714

-16.9

+10.1

572, 838

603, 200

+5.3

71, 959
43, 154
40,390
63
5.9

65, 072
45, 272
41,494
55
4.2

67, 272
43, 724
40,446
50
5.2

-7.4
-10.3
-f2.2
-4.5
+7.3

+7.0
-1.3
-0.1
+26.0
+13.5

550, 977
332, 065

594, 527
350, 290

+7.9
+5.5

229, 097
177, 527
457, 883

219, 659
310, 825
182, 708

184, 033
288, 182
249, 932

-18.0
-5.4
-4.9

+24.5
-38.4
+83.2

1, 449, 286

1, 716, 208

+18.4

21, 176
8,028
32, 282

16, 723
7,548
30, 295

14, 000
30, 534
6,184

9,615
24, 683
11, 600

-21.0 +73.9
-6.0 -69.4
-6.2 +161.2

110, 670

125, 796

+13.7

14, 024
8,681
29,378

15, 709
11,220
23, 328

12, 485
12, 340
21, 656

5,182
13, 425
9,933

6,914
10, 844
13, 033

-20.5
+10.0
-7.2

+80.6
+13.8
+66.2

44, 665

66, 048
16, 166
134, 751

66, 084
17, 937
161, 699

86, 476
20,143
129, 580

67, 672
18, 447
133, 603

73, 431
68, 530
33, 970

58,377
58,954
63, 111

-21.7 +15.9
-8.4 -68.7
+3.1 +111.7

486, 313

508, 160

+4.5

27, 070
40,207
45, 138

26, 214
42, 314
51, 026

24, 359
47, 712
62, 969

25, 503
50, 784
59, 174

24, 178
50, 829
50, 089

25, 816
62, 212
47, 769

23, 025
62, 289
43, 496

-5.2
+0.1
-15.4

+5.0
-18.4
+15.2

159, 541

176, 330

+10.5

39, 527
37, 726
92, 915

40, 413
40, 475
95, 021

39, 444
42, 121
117, 767

38, 541
42, 442
103, 548

35, 198
38, 813
91, 703

27, 767
65, 291
24, 735

25, 527
61, 149
31, 808

-8.7 +37.9
-8.6 -36.5
-11.4 +188. 3

208, 794

268, 671

+28.7

3,110
3,917
11,318

3,221
4,075
9,859

2,980
3,660
9,575

4,820
4,224
7,953

2,805
3,269
7,284

8, 408
4,505

2,160
7,896
6,067

-41.8
-22.6
-8.4

+29.9
-58.6
+20.1

12, 574
2,594
19, 301

10, 119
3,378
19, 053

9,827
2,743
21, 756

12, 100
3,020
14, 723

9,127
2,390
13, 095

9,649
2,120
11, 537

7,418
1,664
12, 260

-24.6
-20.9
— 11.1

+23.0
+43.6
+6.8

53, 991

72, 810

+34.9

66, 191
24, 044
84, 714

53, 370
28, 232
89, 180

51, 342
22, 589
115, 002

66, 856
23, 683
93, 130

52, 722
21, 239
92, 678

56, 047
32, 811
36, 558

44, 488
28, 135
60, 959

-21.1
-10.3
-0.5

+18.5
-24.5
+52.0

341, 743

393, 873

+15.3

8,257
23, 003
12, 415
551, 323

7,029
24, 474
15, 228
492, 467

6,363
23, 967
15, 085
479, 275

8,275
24, 079
17, 628
530, 892

8,187
22, 652
17, 480
460, 260

7,767
27, 494
7,517
382, 371

6,509
32, 568
7,598
339, 755

5,717
44, 553
10, 801

6,369
54, 236
10, 010

6,892
51, 796
10, 217

5,654
48, 589
11, 594

3,821
50, 387

4,404
41, 321
9,497

3,820
49, 215
10, 854

17, 443

1927,

April

May

June

108, 067

91, 675

85, 054

87,006

102, 327
59, 519
36, 178
82
6.8

85, 323
51, 869
38, 275
78
6.2

77, 170
49, 711
37, 340
72
6.1

77, 743
48, 133
39, 535
66
5.5

277, 052
162, 438
445, 171

237, 185
176, 681
474, 530

231, 874
177, 890
572, 009

279, 456
187, 623
481, 346

21, 200
8,722
27, 773

16, 946
9,093
31, 677

17, 451
8,480
38, 778

15, 840
7,679
28,775

13, 825
8,474
28, 735

83, 283
14, 546
122, 822

March

July

1927

TEXTILES-Continued
Cotton Goods
Cotton finishing:
Billings, finished goods (as
produced)
thous. of yds..
Orders received, gray
yardage
...thous. of yds..
Shipments, finished goods
cases..
Stocks, finished goods, end mo
cases. _
Operating activity
per ct. of capacity..
Unfilled orders, end of month
..days..
Cotton textiles, total (9 groups):
Production.
_
...thous. of yds..
Stocks, end of month
-thous. of yds..
Unfilled orders, end mo
thous. of yds..
Drills and twillsProduction
thous. of yds..
Stocks, end of month,. _ thous .of yds
Unfilled orders, end mo -thous. of yds_.
Wide drills, twills, and broadclothProduction
thous. of yds..
Stocks end of month
thous. of yds
Unfilled orders, end mo -thous. of yds..
Print cloths, plain and fancyProduction
thous. of yds..
Stocks, end of month
thous. of yds
Unfilled orders, end mo thous. of yds
Pajama checks and ginghamsProduction
thous. of yds..
Stocks, end of month
thous. of yds_.
Unfilled orders, end mo -thous. of yds..
Demins and chambrays—
Production
_
thous . of yds. .
Stocks, end of month
thous. of yds
Unfilled orders, end mo -thous. of yds..
Canton flannels (for mitten trade)—
Production
thous. of yds
Stocks, end of month
thous. of yds
Unfilled orders, end mo .thous. of yds..
Osnaburgs—
Production
thous. of yds..
Stocks, end of month _ thous. of yds
Unfilled orders, end mo .thous. of yds_.
Narrow sheetingsProduction.. _
..thous. of yds..
Stocks, end of month . thous. of yds
Unfilled orders, end mo. thous. of yds..
Wide sheetingsProduction..
thous. of yds..
Stocks, end of month
thous. of yds..
Unfilled orders, end mo. thous. of yds..
Fine cotton goods production
pieces.
Cotton cloth:
Imports
_
thous. of sq. yds..
Exports
thous. of sq. yds..
Elastic webbing, shipments
thous. of yds..
Fabrics for tire manufacture:
Consumption
thous of Ibs
ExportsTotal
sq. yds..
Cord
sq. yds..
Others
_
sq. vds._
Prices:
Cotton yarn—
22/1 cones, Boston
dolls, per Ib
40/ls, New Bedford
dolls, per lb__
Print cloth, 64 x 60
dolls, per yd
Sheeting, brown
dolls, per yd..
Cotton goods (Fairchild)... index number..

16, 651

17, 238

16, 029

175, 045
78, 676
96, 369

312, 012
218,763
93, 049

496, 120
269, 329
226, 791

.312
.458
.069
.081
146

.312
.446
.068
.081
146

.335
.456
.071
.082
147

7,011
49, 242

6,418
47, 853

33, 116
21, 193

14, 021

-1.1 +25.8
-5.9 -30.4
-0.8 +130. 1
-13.3 +35.5
-32.4
+3.7

0.0
+2.4

22, 670

50, 674
2, 840, 903

3, 379, 677

+19.0

42, 651
306, 799
7 61, 186

38, 208
325, 254
? 63, 663

-10.4
+6.0
+4.0

7 95, 328

+16.4

7 81, 877

14, 050

172, 561 +161.7 +492. 5
83, 185 +344. 9 +880. 9
89, 376
-0.4 +131.0

390, 635 1, 022, 449
183, 420
815, 995
207, 215
206, 454

216, 659
3,018
213, 641

.346
.470
.073
.084
150

.354
.481
.075
.087

.349
.500
.073
.093
157

.344
.500
.073
.089
155

+2.3
+2.3
+2.7
+3.6

+2.9
-3.8
+2.7
-2.2

7,322
45, 486

7,404
41, 312

6,225
41, 039

4,857
37, 644

6,313
39,425

-15.9
-0.7

-1.4
+4.1

31, 749
22, 581

35, 527
18, 984

37, 024
18, 086

43, 841

29, 111
20, 323

27, 528
18, 665

+18.4

+59.3

90.1
60.4
81.2
5.39

86.4
62.6
79.7
5.54

87.3
61.6
76.5
5.39

83.0
56.6
67.3
5.19

77.2
61.7
78.8
5.88

78.7
59.5
81.7
5.78

+8. 1 +14. 0
-4. 9 -9. 6
+11. 3 -8. 3
-4.6 -14.4

1,718

1,518

1,799

1,311

858

739

-6. 9 +65. 1

1,052
1.45

1,022
1.50

1,001
1.50

941
1.50

1,934
0.20

2,046
1.65

97, 224 +117.7

950, 650
266, 436
684, 214

2, 732, 096 +187. 4
1, 736, 953 +551. 9
995, 143 +45.4

Silk
Imports, raw_
thous. of Ibs
Deliveries (consumption) __
_
.bales. .
Stocks, end of month:
At warehouses
bales
At manufacturers' plants
bales
Silk machinery activity:
Broad looms
per cent of normal
Narrow looms
per cent of normal
Spinning spindles
.per cent of normal
Price, Japanese, New York
dolls, per lb_.

89.7
53.8 !
74.9
4.95

40, 581
276, 468

48, 025
316, 099

+18.3
+14.3

5,602

9,118

+62.8

Rayoii
Imports.thous. of Ibs..
Stocks in bonded warehouses,
end of month _ _ _
thous. of Ibs
Price, 150 denier, A grade, N. Y...dolls per lb_.
7

Cumulative through June 30.




1,220
,

1.50

0. 0

-9. 1

v:

i

24

TREND OF BUSINESS MOVEMENTS—Continued
1927

The cumulatives shown are through
July, except where otherwise noted.
Earlier data for items shown here may
be found on pages 23 to 133 of the
August, 1927, "Survey"

March

April

PER CENT INCREASE (+) OR
DECREASE (— )

1926

May

June

July

June

July

* 1, 516
1,562
454

3
8

July,
1927,
from
June,
1927

Per ct.
increase

CUMULATIVE TOTAL
FROM JANUARY 1
THROUGH JULY 31

or decrease

July,
1927,
from
July,
1926

1926

1927

7 8, 963
10, 109
7 1, 720

7

cumulative
1927
from
1926

TEXTILES— C ontinued
Clothing
Men's and boys' garments cut:
Suits
.thous. of garments. _
1,587
Separate trousers
thous. of garments. _
1,611
Overcoats
. thous. of garments ._
253
Work clothing:
Cut
_ dozen garments __ 330, 218
Net shipments _
dozen garments . _ 284, 252
Stocks, end of month
dozen garments.. 372, 765

1,191
1,454
203

1,132
1,427
277

1,287
1,450
416

292, 505
259, 847
380, 347

290, 759
284, 978
383, 007

279, 601
290, 889
363, 582

250, 683
228, 585
328, 918

229, 323
205, 447
298, 013

4,159
4,251
7,342
4,225
5,530

3,709
3,618
7,758
3,963
5,807

3,694
3, 551
7,914
4,058
6,141

3,892
3,850
8,081
4,107
6,342

3,424
3,812
6,397
3,848
6,229

3,060
3,078
7,616
2,966
6,170

1,198
1,164
1,298
1,282
2,615

1,108
1,013
1,395
949
2,566

1,062
958
1, 527
952
8
2, 583

1,127
1,049
1,623
1,115
8
2, 614

880
950
1,617
803
2,458

1,052
853
1,484
966
2,391

821
843
1,507
616
2,114

39, 830
29, 096

50, 271
43, 437

62, 760
30, 569

61, 287
23, 115

35, 236
19, 030

44, 206
17, 170

55, 258
19, 978

4,275
3,426

3,559
2,752

3,854
2,930

4,358
2,964

3,246
2,545

3,604
2,663

3,093
2,301

2,781

2,995

2,768

2,671

2, 415

2,374

2,186

8

1,412 1
1, 448
486

Hosiery

7

8, 19
8, 962
1, 624

-8.3
-11.3
-5.6

7 1,541, 127 71,738,806
71,381, 501 7 1,601, 657

+12.8
+15.9

7

7

\

Production .
.thous. of dozen pairs ._
Net shipments
thous . of dozen pairs . .
Stocks, end of month
thous. of dozen pairs ..
New orders
_ _ .thous. of dozen pairs. _
Unfilled orders,end of mo. thous. of dozen pairs..

7
21, 375
7 21, 193

7 22, 775
7 21, 857

+6.5
+3.1

721,713

7 23, 722

+9.3

7,498
6, 850

7,266
6,864

-3.1
+0.2

6,534

7,690

+ 17.7

-36.2
-4.7

382, 013
191, 148

346, 501
195, 890

+2.5

-25.5 +4.9
-14.1 +10.6

19, 504
15,398

25, 895
19,216

+32.8
+24.8

593

528

-n.o

1, 583

1,086

-31.4

|

Knit Underwear
Production
Net shipments
Stocks, end of month
New orders
Unfilled orders, end of mo

thous. of dozensthous. of dozens. .
thous. of dozens. _
thous. of dozens. _
thous. of dozens..

Burlaps and Fibers
Imports:
Burlaps
thous. of Ibs..
Fibers (unmanufactured)
long tons..

-21.9 +7.2
-9.4 +12.7
-0.4 +7.3
-28.0 +30.4
-6.0 +16.3
-42.5
-17.7

-9.3

Pyroxylin Coated Textiles
Pyroxylin spread
thous. of lbs._
Shipments billed . __ thous. of linear yards.
Unfilled orders, end of mo.
thous. of linear yards- _

i

-9.6

+10.5

Cotton Mill Dividends
Fall River mills (quarterly) :
Total
thous. of dollars. .
Ratio to capitalization
per cent per quarter..
New Bedford mills (quarterly) :
Total
thous. of dollars..
Ratio to capitalization
per cent per quarter..
Sales by dealers

Fur

i .635

2 262

3 294

-1.5

-10.9

2

3.690

+1.3

-6.8

3807

+22.5

-25.9

1 175

+18.0

-30. 1

-29. 5
-2.5

-3.4
-17.0

.643

2

*488

598
3

2.821

!.96

thous. of dollars. _

23, 885

17, 544

17, 551

Buttons
Fresh-water pearl buttons:
Production _ _
__ per ct . of capacity. _
Stocks, end of month
thous. of gross..

49.8
9,928

51.3
9,900

51.5
0,830

52.9
9,950

37.3
9,705

15, 040

13, 230

45.0
12, 301

38.6
11, 690

I

|j

IRON AND STEEL
Iron
Manganese ore, imports
thous. of long tons..
23
Iron ore:
Imports .
thous. of long tons
197
Shipment from mines_thous. of long tons..
ReceiptsLake Erie ports and
furnaces.
thous. of long tons
Other ports
.thous. of long tons..
Consumption
thous. of long tons
5,031
Stocks, end of monthTotal. __
thous. of long tons.. 24, 809
At furnaces
thous. of long tons.. 19,569
On Lake Erie docks.thous.of long tons..
5,240
Pig-iron production:
Total, United States.. -thous. of long tons..
3,483
Merchant furnaces.. ...thous. of long tons..
808
Canada
thous of long tons
76
Furnaces in blast, end of month:
Furnaces
number..
223
Capacity
long tons per day
113, 435
Per cent of total...
per cent..
61.3
Ohio gray-iron foundries:
Meltings —
Actual
._
long tons.. 20, 389
Normal.
long tons
21, 087
Ratio to normal per cent of normal..
96.6
Stocks, end of month ..per cent of normal. _
96
Receipts
per cent of normal..
84
1
2
Quarter ending March 31, 1927.
Quarter ending




-24.3 .-17.6

30

18

37

28

31

34

234

176

-24.8

240
1,560

186
7,752

232
8,459

252
8,609

272
8,771

233
10, 006

+8.6
+1.8

+8.2
-14.0

1,485
24, 901

1,533
26, 380

+3.2
+5.9

733
316
5,019

4,969
2,183
5,013

6,010
2,418
4,531

6,136
2,282
4,294

6,346
2,396
4,834

7,300
2,609
4,787

+2.1
-5.6
-5.2

-15.9
12 5
-10.3

16, 984
6,482
34, 599

17, 848
7,199
32, 646

+5.1
+11.1
-5.6

20, 753
16, 050
4,703

22,971
18,215
4,756

26, 973
21, 922
5,051

31, 331
25, 872
5,459

21, 512
16, 939
4,573

26, 691
21, 582
5,109

+16.2 +17.4
+18.0 +19.9
+8.1 +6.9

3,422
784
77

3,391
772
79

3,090
746
69

2,951
788
51

3,235
770
71

3,223
762
67

-4.5 -8.4
+5.6 +3.4
-26.1 -23.9

23, 070
5,247
439

22, 382
5,342
455

-3.0
+1.8
+3.6

220
112, 955
60.4

211
107, 445
58.3

198
99, 240
54.7

190
93,700
52.5

220
106, 140
59.6

216
103, 245
58.5

19, 189
21, 159
90.6
99
79

20, 117
23, 241
86.5
111
86

102, 300
118, 792

7 0

June 30, 1927.

8

15, 891
18, 893
84.1
99
83

15, 025
18, 962
80.3
88
73

* Quarter ending June 30, 1926.

8

-4.0
-5.6
-4.0

18, 472
24, 038
76.8
79 i—
56 1
7

-12.0
-9.2
-10.3
7
7

103, 533
128, 910

7
7

"

Cumulative through June 30.

8

Revised.

12

25
TREND OF BUSINESS MOVEMENTS—Continued
1937

The cumulative* shown are through
July, except where otherwise noted.
Earlier data for items shown here may
be found on pages 23 to 133 of the
August, 1927, "Survey"

PER CENT INCREASE (+) OR
DECREASE (— )

1936

April

May

June

July

June

July

July,
1927,
from
June,
1927

July,
1927,
from
July,
1926

61, 945
61.5
60, 363
50, 056

55, 318
55.3
56, 595
53, 002

53, 698
53.4
53, 501
46, 119

53, 843
53.6
51, 306
42, 885

44, 142
45.0
44, 347
43, 136

56, 659
54.5
57,641
42, 813

51, 568
50.4
50,998
52, 716

-18.0
-16.0
-13.6
+0.6

-14.4
-10.7
-13.0
-18.2

20.26
18.40
19.79

20.26
19.00
20.04

20.26
18.20
19.89

19.89
17,88
19.79

19.76
17.50
19.32

19.71
18.00
20.62

19.45
17.63
20.23

-0.7
-2.1
-2.4

+1.6
07
-4.5

27, 669
15, 864
19, 404
101, 393

23, 719
19, 352
17, 627
106, 225

23, 128
20, 992
23, 086
108, 721

25, 078
19, 064
23, 568
114, 432

20, 982
16, 883
18, 162
109, 243

25, 437
13, 132
16, 085
101, 042

20, 442
16, 164
15, 610
105, 300

21, 367
18, 539
21, 439
106, 933

25, 561
18, 509
25, 554
113, 210

17, 261
8,965
11, 588

15, 326
10, 594
10, 873

14, 797
12, 965
15, 810

48, 714

53, 598

60, 439

March

CUMULATIVE TOTAL
FROM JANUARY 1
THROUGH JULY 31

1936

1937

Per ct.
increase
(+)
or decrease
(-)
cumulative
1927
from
1926

IRON AND STEEL— Continued
Iron— C ontinued
Malleable castings:
Production
_ _ .short tons
Operating activity
per ct. of capacity
Shipments
.short tons
New orders
..short 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

418, 761

375, 282

-10.4

404, 001
356, 769

361, 093
336, 307

-10.6
-5.7

17, 058
20, 882
23, 157
107, 171

7 129, 898
7 93, 407
7 105, 607

7
136, 960
7 104, 094
7 109, 565

+5.4
+11.4
+3.7

20, 655
16, 502
18, 214
114,515

18, 257
23, 991
27, 904
111,713

7 124, 147
7 89, 543
7 103, 765

7 134, 796
7 92, 976
7 102, 057

+8.6
+3.8
-1.6

16, 242
11, 756
11,946

13, 834
10, 824
13, 486

14, 424
14, 983
16, 243

' 90, 761
77 64, 355
84, 741

7 92, 694
7 63, 584
7 66, 850

+2.1
-1.2
-21.1

60, 313

53, 638

52, 915

27, 789

26, 796

-3.6

497

543

+9.3

91, 625

-1.3

Cast-Iron Boilers and Radiators
Round boilers:
Production
thous of Ibs
Shipments
thous. of Ibs
New orders
thous. of Ibs
Stocks, end of month
thous. of Ibs..
Square boilers:
Production
.
thous. of Ibs
Shipments
_ _ -thous. of Ibs.
New orders
thous. of Ibs
Stocks, end of month.. . __thous. of Ibs
Radiators:
Production thous. sq. ft. heating surface
Shipments -..thous. sq. ft. heating surface..
New orders thous. sq. ft. heating surface
Stocks, end of
month
thous sq ft heating surface
Crude Steel
Steel ingots, production:
United States, total thous. of long tons..
4,499
4,095
Ratio to capacity
per cent
103
97
Canada
thous. of long tons
107
109
U. S. Steel Corporation:
Unfilled orders,
end of month
thous. of long tons
3, 553
3,456
Earnings.- _ -._
thous. of dolls.
17, 129
15, 450
Steel castings:
ProductionTotal.
short tons.. s 97, 329 s 90, 570
Ratio to capacity
per cent
73
68
Railroad specialties
short tons
38, 784
36, 693
Miscellaneous
short tons
8 58, 545 8 53, 877
New ordersTotal
short tons
8 82, 558 s 78, 352
Ratio to capacity
per cent
62
59
Railroad specialties
short tons.. 31,380 8 31,004
Miscellaneous
short tons
8 51, 178
47, 348
Sheets, blue, black, galvanized, and full finished:
Production—
Total
short tons
359, 340
316, 100
Ratio to capacity
per cent
108.8
103.1
Stocks, end of monthTotal
.
short tons
160, 357
169, 977
Unsold
short tons.. 46, 827
46, 901
Shipments
short tons
338, 436
300, 858
New orders
short tons- 345, 900 292, 965
Unfilled orders, end of month, short tons
510, 924
491, 290
Steel barrels:
Production .
-.
barrels- 575, 850 599, 771
Ratio per capacity
__
percent
51.7
53.8
Shipments
barrels
568, 821
609, 090
Stocks, end of month
barrels59, 389
50,070
Unfilled orders, end of month
barrels. .1, 545, 980 1, 365, 555
Track work production
short tons
16, 778
14, 891
Iron, steel, and heavy hardware:
Sales index
index number
199
200
Wholesale prices:
Steel billets, Bessemer.. dolls, per long ton..
33.25
34.00
Iron and steel
dolls, per long ton
36.82
36.76
Composite steel
... dolls, per 100 Ibs
2.55
2.55
Structural steel b earns. ._ dolls, per 100 lbs_.
1.90
1.90
Steel sheets, Youngstown
district
dolls, per lOOibs..
3.00

8

4,015
95
97
3,051
15, 566

3, 468
82
60

3,178
78
55

3,734
89
81

3,635
87
65

-8.4
-4.9
-8.3

-12.6
-10.3
-15.4

3,053
15, 024

3,142

3,479
15, 949

3,603
17, 799

+2.9

-12.8

' 92, 875

7

8 81, 950
62
31,659
s 50, 291

8

81, 907
62
30,
538
8
51, 369

74, 941
56
29, 603
45, 338

95, 323
72
34, 421
60, 902

87, 040
66
30, 694
56, 346

-8.5 -13.9
-9.7 -15.2
-3.1 -3.6
-11.7 -19.5

685, 507

596, 835

-12.9

275, 634
409, 873

233, 509
363, 326

-15.3
-11.4

8 66, 736
50
24, 644
8 42, 092

8 84, 466
864
34, 702
8
49, 764

71, 403
54
29, 906
41, 497

69, 835
53
16, 018
53,817

76, 276
58
29, 266
47, 010

-15.5
-15.6
-13.8
-16.6

-6.4
-6.9
+2.2
-11.7

628, 604

577, 080

-8.2

243, 432
385, 172

240, 145
336, 935

-1.4
-12.5

309, 360
98.7

300, 706
95.9

237, 243
80.2

268, 448
84.0

239, 764
77.3

-21.1
-16.4

-1.1
+3.8

2, 014, 892

2, 061, 776

+2.3

173,986
45, 670
302, 759
212, 337
439, 067

168, 155
47, 860
281, 395
224, 321
399, 562

154, 374
44,538
252, 034
230, 715
353, 413

176, 428
55, 140
262,231
284,319
422, 237

153, 962
46,031
264, 025
352, 414
520, 281

-8.2
-6.9
-10.4
+2.9
-11.5

+0.3
-3.2
-4.5
-34. 5
-32. 1

2, 026, 448
1, 826, 999

1, 975, 913
1, 809, 546

-2.5
-1.0

588, 077
585, 734
594, 782
578, 223
626, 812
52.2
54.6
47.7
53.1
51.3
624, 082
593, 611
575, 712 .605,123
576, 602
62, 435
38, 874
52, 094
53,715
46, 751
1, 197, 894 1, 198, 839 1, 346, 688 1, 300, 113 1, 293, 601
14, 465
12, 812
16, 255
13,853
198

202

33.00
36.76
2.54
1.90

33.00
36.62
2.54
1.85

33.00
36.43
2.53
1.78

180

165

35.00
37.68
2.62
1.85

35.00
37.69
2.64
1.95

3.25

3.00

-2.8 -1.3
-3.4 +7.5
-4.7 -2.9
+3.1 +38.2
+ 12.3 +4.1

0.0
-0.5
-0.4
-3.8

-5.7
-3.3
-4.2
-8.7

0.0

-7.7

4, 010, 723

3, 969, 974

-1.0

4, 017, 949

3, 964, 049

-1.3

7 100, 304

7 82, 296

-18.0

Steel Products
Structural steel, fabricated:
New orders (prorated)
short tons
238, .500 8 206, 700
209,880
203, 520
Ratio to capacity
per cent-75
64
66
865
Shipments (prorated) ..
short tons- 200, 340 209, 880 213, 060 8 232, 140
Ratio to capacity
per cent-66
63
67
873
Steel, plate fabricated, new orders:
Total
short tons. _ 8 55, 407 8 47, 347 8 37, 883 828,831
Ratio to capacity
..per cent..
8 69
859
847
836
Oil-storage tanks
... short tons
24, 127
18, 019 8 10, 855
s 7, 402
Iron and steel:
Exports
long tons
171, 094
192, 339
202, 708
184, 364
Imnorts
lone tons.. 47.312
42. 550
55.836
49. 599
Cumulative through June 30.



311, 640
98
232, 140
73

232, 140
73
267, 120
84

219, 420
69
263, 940
83

+53.1
+53.1
0.0
0.0

+42.0
+42.0
-12.0
-12.0

1, 488, 240

1, 561, 380

+4.9

1, 656, 780

1, 443, 720

-12.9

35, 320
44
17, 199

8 44, 730
54
11, 114

8 37, 158 +22.5
845 +22.2
12, 827 + 132.4

-4.9
-2.2
+34.1

286, 178

300, 545

+5.0

77, 767

124, 927

+60.6

190, 502
39. 543

159, 506
107. 712

194, 717
61. 795

+3.3
-20.3
Revised.

22
-36. 0

1, 223, 300
608. 477

1, 322, 370
308. 967

+8.1
-49.2

?

26
TREND OF BUSINESS MOVEMENTS—Continued

The cumulatives shown are through
July, except where otherwise noted.
Earlier data for items shown here may
be found on pages 23 to 133 of the
August , 1927, "Survey"

PER CENT INCREASE (+) OR
DECREASE (— )

1926

1927

Julv,
1927,

March

April

May

June

July

July

June

from
June,
1927

Per ct,
increase
(+)
or decrease
(-)
cumulative
1927
I from
1926

CUMULATIVE TOTAL |
FROM JANUARY 1 |
THROUGH JULY 31 i

July,
1927,
from
July,
1926

1927

1926

ii

IRON AND STEEL— Continued
Steel Products— Continued
Steel furniture:
Business groupShipments
thous of dolls
New orders
thous. of dolls
Unfilled orders, end mo.thous. of dolls. .
Shelving—
Shipments
-.thous. of dolls
New orders
thous of dolls
Unfilled orders, end" mo.thous. of dolls
Steel boilers, new orders:
Total
number..
Area
_
thous. of sq. ft..

3,081
3,022
1,744

2,850
2,751
1,646

2,529
2,381
1,598

2,520
2,369
1,469

2,040
2,092
1,507

2,606
2,557
1,535

2,150
2,284
1,669

-19.0
-11.7
+2.6

-5.1
-8.4
-9.7

18, 415
18, 655

691
690
679

678
622
627

585
686
731

658
638
710

565
535
671

602
604
554

531
601
602

-14.1
-16. 1
-5.5

+6.4
-11.0
+ 11.5

4,358
4,300

1,413
1,492

1,551
1,501

1,419
1,355

8 1, 534
8 1, 365

1,501
1,764

4,340
-0.4
4,405 j +2.4
9,540
10, 046

—2 2
+29 2

Machinery
nnmhpr

Electric

2 241 698

' 274, 089

nnmhor

Water softeners, shipments
units
Water systems, shipments
" units
Pumps, pitcher, hand, etc., shipments.. unitsll
Steam, power, and centrifugal pumpsNew orders
thous. of dolls
Shipments
—thous. of dolls..

-11.8

3 270, 934

7

90, 758
73, 258
693
8,318
59, 417

85, 799
69, 762
785
7,830
51, 874

-18.3
-9.2
-20.7

-19.1
-3.1
-33.8

1,374
1,498
3,351

1,409
1,597
3,044

1,834
1,698
3,619

1,594
1,611
3,586

+2.5
+6.6
-9.!

-11.6
-0.9
-15.1

167. 6
176. 2
123.0
8 137. 7

157.3
157.4
160.5
131.4

180.7
191.4
124.4
143.8

156.4
162.5
124.5
140.1

-6.1
-10.7
+30.5
-4.6

+0.6
-3.1
+28.9
-6.2

638, 599
659, 913
908, 393

862, 109
547, 728
926, 561

407, 940
417, 632
511,290

378, 163
448, 390
411,119

97
43, 601

153
54, 804

136
41, 504

175
68, 408

125
50, 494

-11.1
-24.3

+8.8 |
-17.8

127
135
198

139
142
200

129
100
216

186
159
255

173
146
277

-7.2
-29.6
+8.0

-25.4
—31 5
-22.0

12
89
4

19
77
10

20
97
23

12
73
5

21
104
19

15
95
1

123
48, 955

118
46, 965

8125
55, 281

«141

57, 494

98
45,527

8148
53, 751

8142
54, 234

-30.5
-20.8

4,067
53
79

3,554
50
124

4,524
86
65

3,137
44
76

3,078
50
47

4,495
68
42

3,334
49
37

386, 841
341, 676
45, 165

397, 777
353, 223
44, 554

395. 674
352, 428
43, 246

23, 250
19, 723
8 3, 527

24,611
20, 890
3, 721

25, 708
21, 991
3,717

39, 527
29, 985
9,542

i
i
46, 703 1 49,052
34, 840 i 38, 542
11, 863 | 10, 510 !

9,072
6,512
2,560
21,007

4,075
2, 930
1,145
22, 264

214, 678

181, 170

161, 910
146, 275

169, 067
180, 106

94, 725
78, 993
838
6,380
47, 430

80, 158
64, 493
8854
7,501
37, 562

79, 825
64, 892
8777
88,355
8
43, 322

1, 800
1,482
3,686

1,405
1,565
3,525

1,497
1,511
3,482

187.4
185.1
199.8
136.0

152.3
154.8
139.2
145.9

8149.0
8 153. 9
8 124. 9
8 145. 3

index number. .

Production
index number..
Foundry equipment:
New orders
dollars.. 640, 363 601, 941
Shipments
dollars- 736, 280 714, 192
Unfilled orders, end of month... dollars 1, 274, 658 1, 070, 713
Stockers, mechanical:
Shipments
number
77
115
™ Shipments....
— .horsepower.. 49, 694
26, 249
Machine tools:
New orders
inHav •nti-m'Knw
152
126
Shipments
inHnv -nnmVv^vn
138
158
Unfilled orders, end of mo.. index number
216
226
Electric industrial trucks and tractors:
Shipments, domestic10
96
10

number of vehicles" ~

Fire-extinguishing equipment, shipments:
Motor vehicles
number
Hand types..
....number.

8

8
8
8

8
8
8

619, 999
599, 921
899, 399

8

+35.0 +128.0
-17.0 +22.2
+2.0 +125.4

511, 239
7411,570
5,138
45, 060
350, 487

11,094
10, 248

3,016,312
3, 076, 634
8S1
359, 805

7
7

478, 007
-6.5
-5.0
391, 168
-1.6
5,056
+0.8
45, 414
297,400 j -15.1

I)
5,060,440 i j +67.8
4,300,153 +39.8-

297, 719

Passenger cars
.Trucks
Exports:
Assembled—
Total
Passenger cars
Trucks
From Canada-

number of cars"
number of cars

Passenger cars

number of cars"

number of cars..
number of cars
number of cars

Foreign assemblies
number of cars
Sales, passenger cars and" motor
tbrm« nf Hnllo

Shipments (General Motors Co.):
To dealers
number of cars
To users....
number of carsll
Accessories and parts:
ShipmentsOriginal equipment
index nos__
Applet i
paris
inaex nos__
Service parts
Exports.
1

index nos
."..". thous. of dollsl I

Quarter ending Mar. 31,1927.




1

-12.7
-17.3

ii

112
686
50

90 1 -19.6
619 1 -9.8
76 i +52.0

-31.0
-16.1

800
376, 767

-2.5
780
347, 040 ! -7.9

-1.9
+13.6
-38.2

-7.7
+2.0
+27.0

26, 301
406
331

-6.7
24, 537
373 1 -8.1
510 +54.1

354, 394 * -16.1
317, 006 -14.7
37,388 -25.5

-25.7
-26.4
-19.8

2, 660, 271
2, 387, 424
272, 847

2, 290, 677
2, 012, 103
278, 574

-13.9
-15.7
+2.1

-20.0
-40.0
-24.7 -23.2
-78.3 +400. 0

j

!
number
number
number

AUTOMOBILES
Production:
United StatesTotal
number of cars..
r assenger cars
number of cars
Trucks
number of cars
Canada—

CVCleS

-5.3
0.0

10,509
10,251

PATENTS: ISSUED
Total, all classes
Agricultural implements
Internal-combustion engines

-2. 5

515, 787

529, 172

-10.8

635 1
7,586
34, 350

81, 522
64, 961
790
5,731
42, 532

Agricultural machinery and equipment:
Shipments-

All other types

1
i
1

Vacuum cleaners, shipments
(quarterly)
Washing-machines, shipments:

Domestic

+0.1
-2.0

18,436
18,274

2

j

8
8

195
120
135
210
10, 438

185
117
156 !
223 i
10, 609 I

5, 588
3,901 1
1,687
24, 490 1
I

173, 182
171,364
184
123
131
192
9, 817

Quarter ending June 30,1927.

8
8

313, 983
273, 718
40,265

8

380, 372
263, 406
233, 425 1 339,570
29, 981 i 40, 802

19, 208
16, 470
2,738 1

10, 987 !
8,719 !
2, 268 !

21, 751
18, 818
2, 933

15, 208
12, 953
2,255

-42. 8
-47.1
-17.2

-27.8
-32.7
+0.6

140, 086
115, 660
24, 426

137, 795
114,364
23, 431

-1.6
-1.1
-4.1

27, 629
20, 815
6, 814

28, 604
19, 398
9,206 i

19, 934
15, 354
4, 580

22, 486
17,077
5,409

+3.5
-6.8
+35.1

+27.2
+13.6
+70.2

184, 587
143, 507
41, 080

252, 874
187, 057
65, 817

+37.0
+30-3
+60.2

4, 576
3, 089
1, 487
20, 870

3, 247
2,059
1,188
17, 967

4, 541
2, 979
1, 562
15, 431

4,158
2,641
1,517
12, 299

-29.0
-33.3
-20. 1
-13.9

-21.9
-22.0
-21.7
+46.1

42, 849
29, 987
12, 862
113,966

39, 332
27, 384
11, 948
137, 795

-8.2
-8.7
-7.1
+20.9

-12.0
-15.6

+56.2
+32.7

723, 730
721, 766

1, 020, 386
975, 222

+41.0
+35.1

-15.9
+9.2
-26.5
-20.5
+22.3

+9.6
+21.4
-23.6
-4.2
+32. 5

54, 268

64, 391

+18.7

155, 525
159, 701
176 i
130
132
171
8,152 1

1
i
!
|

1 8 242, 398
i
136, 909 ! 111,380
134, 749
117,176
I
148 j
142
97
136 I
9, 973 |l

140
135
140
184
6,113

3 Quarter ending June 30,1926.

8

160, 767
87, 643
101, 576
135
117
127
142
7,527 II

" Cumulative through June 30.

3

Revised.

27

TREND OF BUSINESS MOVEMENTS—Continued
1927

The cumulatives shown are through
July, except where otherwise noted.
Earlier data for items shown here may
be found on pages 23 to 133 of the
August, 1927, " Survey "

March

April

PER CENT INCREASE (+) OR
DECREASE (— )

1926

May

June

July

June

July

July,
1927,
from
June,
1927

July,
1927,
from
July,
1926

-10.3

-20.9

CUMULATIVE TOTAL
FROM JANUARY 1
THROUGH JULY 31

Per ct.
increase
(+)•
or decrease
(-)
cumulative
1927
from
1926

1926

1927

15, 317

13, 104

-14.4

71,732,545 71,520,366
7
7 72, 335
67, 125
7 344, 735 7 325, 090
7 350, 213 7 341, 328
7 953, 928 7 782, 503
7 11, 334
7 4, 320

-12.2
-7.2
-5.7
-2.5
-18. 0
-61.9

AUTOMOBILES— Continued
Rim production
thous. of rims..
New passenger-car registrations:
Total _.
number of cars__
Highest price group
number of cars..
Second highest group
number of cars_Third highest group
number of cars..
Lowest price group.
number of cars. _
Miscellaneous
number of cars..

2,072

2,060

2,169

1,872

259, 499
12, 086
65, 383
56,599
133, 694
737

327, 599
16, 136
73, 850
75, 312
161, 469
832

314, 988
13, 732
67, 334
72, 569
160, 704
649

263, 722
12, 356
60, 507
65, 305
125, 017
537

69, 314
80, 965

71, 122
80, 940

71, 613
82, 132

69, 539
77, 847

126, 975
136, 347
79, 537
45, 306

125, 796
135, 729
73, 976
46, 908

125, 581
139, 114
69, 779
38, 394

103, 072
263, 793
.1308

99, 256
249, 834
.1281

108, 079
242, 074
.1262

239, 248
210, 702
105. 17

184, 377 231, 868
197, 545 • 222,555
105. 29
105. 09

8

2, 110

2,123

319, 788
8 14, 372
•63,066
8
66, 792
173,
312
8
2, 246

327, 713
11, 553
56, 535
71, 371
186, 842
1,412

65, 545
75, 029

71, 317
77, 166

72, 228
76, 479

-5.7
-3.6

-^9

505, 426
559, 546

492, 533
566, 697

-2.6
+1.3

113, 233
134,243
63, 465
42, 833

118,133
132, 686
61, 965
42, 592

116, 743
124, 100
78, 206
42,422

119,020
124, 483
76, 352
35, 300

+4.3
-1.2
-2.4
0 6

-0.7
+6.6
-18.8
+20.7

812,273
912, 689
529, 593
262, 309

865, 501
954, 326
492, 785
297, 096

+6.6
+4.6
-7.0
+^3.3

96, 360
257, 823
.1237

104, 388
251, 483
.1253

66, 096
275, 338
.1366

64, 940
277, 888
.1392

+8.3
—2 5
+1.3

+60.7
—9 5
-10.0

212, 055
173, 145
104. 09

164, 498
173, 041
103. 17

154, 250
173, 223
107. 13

174, 145
188, 203
106. 78

-22.4
-0.1
-0.9

-5.5
-8.1
-3.4

1, 552, 206 1, 640, 606
1, 521, 629 1, 433, 651

+5.7
-5.8

1,680

NONFERROUS METALS
Copper
Production:
Mines
short tons
Smelter
_
_
short tons..
Refined (North and South
America) _
short tons
World production, blister..
short tons
Domestic shipments, refined.
short tons .
Exports
short tons
Stocks (North and South America) :
Refined
short tons
Blister
_
short tons
Wholesale price, electrolytic
dolls, per lb__

8

g g

Copper Products
Plumbing fixtures:
New orders, tubularQuantity
Value-Wholesale price, 6 pieces

number.dollars..
dollars

Tin
long tons

6,545

6,720

6,070

5,735

5,950

6,900

7,630

+3.7

-22.0

47, 745

43, 280

-9.4

long tons
long tons..
long tons
dolls, per Ib

15, 441
1,709
5,946
.6783

13, 849
1,704
6,228
.6607

14, 655
1,604
6,029
.6394

15, 638
1,519
5,139
.6423

15, 377
1,984
5,682
.6263

15, 831
2,409
7,230
.5841

13, 777
3,014
7,9i4
.6137

-1.7
+30.6
+10.6
-2.5

+11. 6
-34.2
-28. 4
+2.1 !

47, 474

41, 694

-12.2

Retorts in operation, end of month. ..number..
Per cent of total- _
percent
Production
.
short tons
Stocks, end of month
short tons..
Ore, Joplin district:
Shipments..
_._
short tons..
Stocks, mines end of month
short tons..
Price, slab, prime western..
dolls, per lb._

83, 208

81, 096
59.3
51, 626
41, 208

78, 057
57.0
51,296
42, 046

80, 047
57.8
49, 718
43, 858

76, 519
58.2
47, 627
39 323

76, 912

83, 980

48, 226
25, 760

48, 403
22, 986

-4.4
+0 7
-4.2
10 3

-8.9

56, 546
36, 279

-1.6
+71.1

367, 703

365, 052

-6. 7

69, 125
18, 538
.0669

71,077
21, 536
.0634

44, 222
27, 984
.0608

31, 167
35, 677
.0621

59, 104
30, 813
.0623

55, 732
31, 885
.0711

73, 409
20, 776
.0741

+89.6
-13.6
+0.3

-19.3
+48.3
-15.9

488, 054

391,151

Lead*
Production
short tons
On shipments:
Joplin district
short tons
Utah _
short tons
Receipts of lead in U. S. ore
short tons
Stocks, U. S. and Mexico, end mo_. short tons..
Price, pig, desilverized (New York)_dolls.perlb_.

61, 128

60, 193

57, 285

59, 164

56, 302

56, 624

7 349, 355

7 351, 304

+0.6

10, 164
66, 358
58, 364
145, 766
.0758

12, 602
76, 452
60, 134
160, 437
.0713

7,581
63, 518
56, 942
175, 230
.0662

5,194
62, 842
53, 060
170, 287
.0641

6,169
63, 114

11, 566
69, 965
53, 414
118, 697
.0850

+18.8
+0.4

-46.7
-9.8

72, 391
455, 495
7 338, 106

59, 970
458, 357
7 336, 567

-17.2
+0. 6
-0. 5

.0634

7,131
62, 418
53, 383
123, 099
.0803

-1.1

-25.4

5,626
1,208
4,418

4,812
950
3,862

8 4, 946
971
8 3, 975

4,855
830
4,025

4,605
1,442
3,162

5,519
1,330
4,189

5,469
1,339
4,130

-5.1
+73.7
-21.4

-15.8
+7.7
-23.4

39, 715
8,962
30, 752

35, 736
7,687
28, 048

-14.2
-8.8-

1,380
2,378

1,075
2,208

905
1,432

1,003
1,155

327
3,167

374
2,954

7

3, 000

7

6, 924 +130. &

7 2, 447

7

5, 150 +110. 5

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

-19.9

Babbitt Metal

Consumption:
Total apparent
Direct by producers
Sale to consumers...

thous. of lbs__
thous. of lbs__
...thous. of lbs_.

Arsenic
Crude:
Production
Stocks, end of month
Refined:
Production
Stocks, end of month

short tons
short tons
short tons
short tons..

1,030
2,230

925
2,059

683
1,718

789
1,266

390
4,414

271
3,523

202, 393
182, 692

183, 812
198, 711

159, 178
133, 387

110, 909
119, 724

87, 205
96, 437

108, 631
119, 663

7

dozens
...dozens

32, 942
30, 980

30, 423
33, 785

33, Oil
29, 900

48, 849
46, 357

54, 937
48, 940

38, 779
41, 652

7

number
number
number

98, 799
186, 642
104, 993

99, 993
175, 728
98, 762

number
number..
number

113, 983
256, 641
118, 642

-10. a

Galvanized Sheet Metal Ware
Pails and tubs:
Production
Shipments
Other:
Production
Shipments
Enameled Ware
Baths:
Shipments
Stocks, end of month
New orders.
Lavatories:
Shi pments . .
Stocks, end of month
New orders




dozens..
dozens

104, 953 8 110, 278
158, 014 88 132, 469
109, 224
108, 429

104, 680
122, 609
111, 119

121, 933
158, 897
119, 554

113,427 j
149, 829
112, 629

111, 301 109, 206 8 115, 348
255, 264
243, 959 88 212, 888
107, 102
116, 205
113, 070
i Cmrlulative through Jun B30.

107, 327
225, 684
118, 674

134, 542
248, 959
130,904

117, 973
-7.0
238, 556
+6.0
118,963
+5.0
8
Re vised.

-5.1
-7.4
+2.5

-7.7
-18.2
-1.3
-9.0
—5 4 1
-0.2

7 681, 933
710, 541

7
7

7 307, 300
295, 228

7

926, 086
942, 038

+35. &
+32.6

215, 262
7 209, 227

-30.0
-29.1

731, 420

684, 630

-6.4

775, 716

699, 139

-9.9

834, 942

748, 983

-10. a

855, 760

766, 293

-10. 5

28

TREND OF BUSINESS MOVEMENTS—Continued
1927

The cumulative* shown are through
July, except where otherwise noted.
Earlier data for items shown here may
be found on pages 23 to 133 of the
August, 1927, "Survey"

PER CENT INCREASE (+) OR

1926

CUMULATIVE TOTAL
FROM JANUARY 1
THROUGH JULY 31

DECREASE (— )

June

July

June

July

July,
1927,
from
June,
1927

July,
1927,
from
July,
1926

121, 446
260, 732
114, 695

110,808
244, 337
117, 045

129,509
294, 587
126, 728

117, 263
284, 432
117, 705

-8.8
-6.3
+2.0

-5.5
-14.1
-0.6

8

46, 802
128, 936
47, 815

56, 144
157, 030
58, 538

48, 162
151, 854
49, 432

-15.7
+0.6
-2.9

-2.8
-15.1
-3.3

43, 613
119, 846

80, 050
172, 026

73,640
160, 665

+3.4
+6.1

-40.8
-25.4

80

71

5,764
45

4, 654
38

6,668
53

7,567
59

6,596
52

6,376
52

5,723
46

559, 663
dollars
193, 961
dollars
dollars.. 337, 206
dollars. . 28, 496

429, 411
162, 103
246, 168
21, 140

499, 554
195, 867
279, 474
24, 213

482, 765
176, 985
286, 553
19, 227

-8.1
-16.7
-1.9
+0.4

-24.1
-19.6
-28.6
+1.4

-3.1

-1.7

March

April

May

117, 784
325, 102
123, 645

114, 302
318, 391
115, 254

112, 461
303, 586
118, 391

50, 753
133, 431
51, 961

49, 018
129, 823
43, 020

49,844
135, 726
46, 937

8

44, 405
102, 664

46, 666
117,488

8

78

879

80

7,484
59

1926

1927

Per ct.
increase
(+)
or decrease
(-)
cumulative
1927
from
1926

NONFERROUS METALS— Continued
Enameled Ware— Continued
Sinks:
Shipments.
_
.number
Stocks, end of month
number..
New orders . _
number
Miscellaneous sanitary ware:
Shipments . .
number
Stocks, end of month
_
.number.
New orders
number. _
Unfilled orders, end of month:
Baths
number..
Smallware
number-Household ware:
Furnaces operating
per cent of total
Porcelain flat ware:
New ordersTotal
thous of sq. ft
Ratio to capacity
per cent,.
ShipmentsTotal .
thous. of sq. ft
Ratio to capacity
per cent
Band Instruments
Shipments:
Total....
Cup mouthpieces
Saxophones
Wood wind

46, 109
115, 878

8

404, 648
153, 434
227, 899
23, 315

8
8
8

55, 498
128, 215
49, 228

8
8

42, 164
112, 941
80

398, 743
170, 942
208, 334
19, 467

366, 338
142, 373
204, 470
19, 495

825, 834

775, 592

-6.1

841, 661

788, 171

-6.4

365, 143

338, 010

-7.4

385, 038

326, 572

-15.2

3, 576, 802
1, 304, 665
2, 126, 944
145, 193

3, 040, 881
1, 127, 264
1. 754, 187
' 159, 430

-15.0
-13.6

495, 454

-3.0

546, 986 i
822, 138

-2.4
-9.1

-17. 5
+9.8

Electrical Equipment
Electrical mfrs., new orders (quarterly)
1
2
251, 627
thous of dolls
243, 827
Electrical porcelain, shipments:
319,
227
Total
..
dollars
284, 610
275, 514
108, 688
Standard
dollars
88, 755
96, 438
72, 846
168, 148
Special..
dollars
148, 789
134, 550
132, 927
42, 391
High tension
dollars
47, 066
44, 526
Laminated phenolic products,
505, 213
shipments
dollars
592, 366
510, 548
496, 592
Motors:
New orders
dollars 1, 078, 639
738, 081
810, 424
831, 274
802, 572
Billings (shipments)
dollars
859, 582
737, 349
753, 547
Power switching equipment (quarterly) :
New orders —•
2
i 15, 208
Indoor
single pole units
14, 409
1
2
17, 500
Outdoor
_
single pole units
17, 407
Electric hoists:
New orders —•
291
Quantity
number
284
285
330
Value
dollars.. 144, 305
138, 829
128. 313
171, 192
Shipments
dollars.. 139, 528
138, 510
129,
810
124, 729
Electric overhead cranes:
1,065
Shipments
thous. of dolls..
909
797
671
750
New orders __
thous of dolls
964
660
487
3,042
Unfilled orders, end mo
thous. of dolls..
2,772
2,646
2,555
Outlet boxes and covers, shipments
pieces 2, 093, 021 1, 960, 806 2, 332, 608 2, 285, 533
Vulcanized fiber:
Shipments —
Total
_.
thous of dolls
919
796
736
734
Holloware
thous of dolls"
57
65
66
57
Consumption
.
thous oflbs
3,002
2,701
2,570
2,465
Industrial reflectors, sales
units
135, 084
115,111
117, 156
123, 080
Nonmetallic conduits, shipments. .thous. of ft._
10, 886
10, 365
11, 390

3

248, 000

510, 678

283, 527
93, 437
142, 098
47, 992

273, 365
75, 630
154, 041
43, 694

7

525, 690

613, 645

7

740, 426
876, 257

7
5,
7

904, 269
928, 272
3 11, 436
10 191

3

1,731,875
7
560, 368
7
904, 057
7
267, 450
3, 283, 768

373, 124
5, 312, 775

7
7

7

3, 038, 619

7
4,
7

880, 427
4, 590, 269

-9.2
-13.6

-5.3
-0.5

+26.0
+70.8

22, 212
18, 096

29, 617
34, 907

+33.3
+92.9

229
105, 103
98, 020

332
178, 426
159, 124

293
171, 871
130, 234

-19.6
-18.1
-24.5

-21.8
-38.8
-24.7

2,171
1, 185, 066
1, 173, 990

1,950
970, 129
897, 578

-10.2
-18.1
-23.5

679
689
2,746

1,031
915

860
1,378

-14.8
-28.5
+3 8

-21.0
-50.0

6,813
7,096

5,759
5,132

-15.5
-27.7

7

1, 422, 186
855
48
3,272

889
43
3,020
113,716

8,625, 792

7

12,985, 808 +50. 5
7

7
7

5,7 672
311
18, 406

7

4,7 712
344
16, 048

-16.9
+ 10.6
-12.8

-0.3

FUELS
Coal and Coke

Bituminous:
ProductionUnited States
thous. of short tons..
Canada
thous. of short tons
Exports _
thous of long tons
Consumption—•
By vessels
thous of long tons
By electric power
plants..
thous. of short tons
By railroads
thous. of short tons..
By coke plantsUnited States
thous. of short tons..
Canada
thous of short tons
Stocks held by
consumers
thous of short tons
Prices —
Mine average (spot) dolls, pershort ton..
Wholesale, Kanawha, f. o. b.
Cincinnati
dolls, per short ton..
Retail, Chicago... dolls, oer short ton..
1

Quarter ending March 31, 1927.




2

60, 147
1,406
1,376

34, 674
8 1, 314
1,258

35, 395
1,305
1,368

36, 627

33, 563

43, 472
1,350
3,240

-22.8

310, 978

310, 192

1,531

41, 992
1,394
2,139

-8.4

1,694

-9.6

-52.7

11.139

10, 299

-7.5

322

345

332

357

335

521

^641

-6.2

-47.7

3,058

2,379

-22.2

» 3, 484
8,647

8 3, 290
7,693

8 3, 248
7,724

3,220
7,225

3,172
7, 509

3,362
7,635

20, 382
48, 549

+2.5
-2.8

6,977
256

6,557
253

6,442
249

6,079
239

6,465
230

6,915
236

44, 729
1,705

-8.7
+2.1

62, 000

39, 000

41, 000

2.06

2.12

1.99

1.85

1.90

1.91

3.64
9.31

3.64
8.89

3.64
8.98

3.64
9.12

3.39
8.13

3.39
8.27

75, 000

Quarter ending June 30, 1927.

3

8

5,993
231

3.64
9.09

Quarter ending June 30, 1926.

7

77 19, 878
49, 937

-1.4
-3.3

-13.3
-2.1

48, 982
1,670

0.0 +7.4
-0.3
+9.9
Cumulative through June 30.

7
7

^ Revised.

29
TREND OF BUSINESS MOVEMENTS—Continued

The cumulatives shown are through
July, except where otherwise noted.
Earlier data for items shown here may
be found on pages 23 to 133 of the
August, 1927, " Survey "

March

April

May

PER CENT INCREASE (+) OR
DECREASE (— )

1926

1927

June

July

CUMULATIVE TOTAL
FROM JANUARY 1
THROUGH JULY 31

Per ct.
increase
(+)
or decrease
(-)
cumulative
1927
from
1926

June

July

July,
1927,
from
June,
1927

July,
1927,
from
July,
1926

1926

1927

8

8, 878
386

88,371
390

-30.6
-25.0

-39.9
-41.5

44, 386
1,738

45, 987
1,599

+3.6
-8.0

7,580
25,771
1,092
529

4,885
25, 769
1,175
381

-35.6
0.0
+7.6
-28.0

425, 903

514, 389

+20.8

36, 810
439, 223
10, 139

30, 443
479, 416
9,469

-17.3
+9.2
-6.6

FUELS— Continued
Coal and Coke— Continued
Anthracite:
Production
thou. of short tons
Exports.thous. of long tons
PricesWholesale, chestnut,
New York
dolls, per long ton
Retail, chestnut,
New York
dolls, per short ton
Coke:
Producti9n, U. S.—
Beehive
__ thous. of short tons
By-product
thous. of short tons
Production, Canada.. thous. of short tons..
Exports
thous. of long tons
Price, furnace,
Connellsville
dolls, per short ton

6.098
156

7,131
201

88,054
305

7,257
304

5,034
228

10.61

10.58

10.58

10.77

10.80

11.47

11.48

+0.3

-5.9

14.29

13.50

13.54

13.79

13.79

14.50

14.50

0.0

-4.9

890
3,879
172
46

780
3,707
170
50

630
3,792
174
50

577
3,598
166
59

467
3,658
159
58

811
3,610
152
76

963
3,756
158
81

3.65

3.49

2.94

3.17

3.04

2.84

2.94

-4.1

+3.4

-19.1 -51.5
-2.6
+1.7
-4.2 +0.6
-1.7 -28.4

Petroleum
Crude petroleum:
Production
Stocks, end of monthTotal (comparable)
Tank farms and pipe
lines
Refineries
__

thous. of bbls..

75, 304

72, 590

8 76, 275

74, 538

78, 333

861,789

865,168

+5.1

+20.2

thous. of bbls..

290, 110

297, 895

307, 016

315, 702

324, 930

281, 432

278, 508

+2.9

+16.6

thous of bbls
thous. of bbls. _

252, 678
37, 432

260, 410
37, 485

270, 518
36, 498

279, 935
35, 767

288, 385
36, 545

244, 690
36, 742

242, 149
36, 359

+3.0
+2.2

+19.0
+0.5

Light
thous. of bbls..
29, 568
Heavy.
thous. of bbls._
87, 886
Imports.
_____
_ thous. of bbls _
4,434
Consumption (run to stills) .thous. of bbls._
69, 082
Oil wells completed _
number
1,417
Price, Kansas- Oklahoma
dolls, per bbl._
1.335
Gasoline:
ProductionRaw (at refineries)
thous. of bbls__
27, 886
3,271
Natural gas (at pi ants), thous. of bbls..
3,117
Exports
thous. of bbls__
Consumption
thous. of bbls
22, 464
Stocks, end of month
thous. of bbls_.
52, 410
Price, motor, New York
dolls, per gal._
.205
Retail av., wagon, 50 cities... dolls, per gal__
.170
Retail distribution, 21 States.thous. of gals__ 259, 519
Kerosene oil:
4,802
Production
thous. of bbls..
Consumption
thous. of bbls
3,356
8,753
Stocks at refineries, end mo_ thous. of bbls..
Price, 150° water white.
dolls, per gal..
.083
Retail distribution, 13 States.thous. of gals. _
33, 123
Gas and fuel oils:
Production
_ .thous. of bbls
32, 377
C onsumption—
3,874
By vessels _ _ _
_ thous. of bbls
By electric power plants. thous. of bbls..
638
By railroads
.thous. of bbls
4,181
Stocks at refineries, end mo -thous. of bbls__
22, 561
Price, Okla. 24-26, refineries.dolls. per bbl__
1.219
Lubricating oil:
2,754
Production
thous. of bbls_.
C onsumption
thous of bbls
2,334
Stocks at refineries, end mo _ thous. of bbls..
8,035
Price, paraffin, 903 gravity. _dolls. per gal-.240
Asphalt:
Production
thous of short tons
222
Stocks, end of month.. thous. of short tons_.
235
Coke:
Production _
_. thous. of short tens _
98
Stocks, end of month, .thous. of short ttms..
326
Wax:
Production
_.
thous. of Ibs _
53, 644
Stocks, end of month. __
thous. of lbs__ 201, 340

29, 460
88, 383
4,063
66, 964
],528
1.114

27, 143
90, 289
4,557
70, 148
1,274
1.155

26, 898
90, 516
4,019
68, 022
1,248
1.155

25, 301
91, 695
4,675
71, 901
1,275
1.155

35,454
87, 364
5,571
65, 092
1,652
2.050

33, 548
88, 092
5,185
67, 624
1,861
2.050

-5.9
+1.3
+16.3
+5.7
+2.2
0.0

-24.6
+4.1
-9.8
+6.8
-31.3
-43.7

26, 577
3,171
3,424
23, 371
52, 379
.194
.162
310, 708

26, 787
3,219
4,366
26, 579
48, 609
.190
.153
8327,179

26, 616
3,093
4,209
27, 799
43, 768
.190
.147
357, 385

28, 118
3,119
3,097
29, 784
39, 069
.190
.149

24, 946
2,548
3,516
823,773
40, 779
.210
.196
325, 207

25,504
2,629
3,593
824,719
38, 289
.210
.197
369, 878

+5.6
+0.8
-2.64
+7.1
-10.7
0.0
+1.4

+10.2
+ 18.6
-13.8
+20.5
+2.0
-9.5
-24.4

168, 352
18, 010
25, 399
145, 951

188, 968
21,951
25, 113
166, 125

4-12.2
+21.9
-1.1
+13.8

4,608
2,776
8,725
.079
36, 490

4,663
3,188
8,568
.076
37, 857

4,308
2,695
8,567
.072
33, 449

4,484
2,637
9,038
.070

5,009
2,908
7,881
.125
29, 952

4,877
2,733
8,434
.099
30, 884

+4. 1 -8. 1
-2.2
-3.5
+5 5 4-7. 2
-2.8 -29. 3
+8.0
11 6

35, 517
22, 314

32. 431
21, 124

-8.7
-5.3

7 202, 845

7 200, 898

-1.0

31, 856

33, 499

31, 691

33, 693

29, 130

31, 461

+6.3

+7.1

205, 809

226, 237

+9.9

4,204
*549
3,920
23, 732
1.063

4,250
8487
3,948
26, 059
.925

4,244
473
3,732
26, 590
.906

4,077
472

4,038
625
3,769
22, 554
1.225

3,940
704
4,071
25, 696
1.231

-3.9
-0.2

+3.5
-33.0

26, 147
5,046

28, 168
4,110

+7.7
-18.o

+8.6
-0.7

+12.4
-26.9

2,615
1,712
8,176
.240

2,625
1,928
8,011
.240

2,571
2,197
7,628
.240

2,672
1,960
7,496

2,681
2,042
7,314
.240

2,831
2,071
7,328
.240

+3.9
-10.8
-1.7

-5.6
-5.4
+2.3

18, 809
13, 128

18, 152
12,858

-3.5
-2.1

274
220

319
223

347
232

335
214

301
201

281
185

-3.5
-7.8

+19.2
+15.7

1,554

1,861

+19.8

88
319

88
329

95
293

90
306

81
247

83
261

-5.3
+4.4

+8.4
+17.2

539

640

+18.7

48, 917
211, 019

46, 267
207, 329

44, 938
198, 808

47, 979
191, 501

50, 673
155, 254

54, 267
156, 704

+6.8
-3.7

-11.6
+22.2

375, 482

343, 222

-8.6

33, 234
2,809
15, 148
8,195
5,113

37, 105
3,598
16, 699
8,267
6,393

42, 372
4,516
20, 223
7,507
6,801

37, 299
4,025
20,506
5,770
4,654

35,623
4,775
13,057
8,597
6,383

33, 299
5,023
11,047
8,455
6,677

-12.0 +12.0
-10.9 -19.9
+1.4 +85.6
-23.1 -31.8
-31.6 -30.3

230, 881
25,043
95,319
56, 918
36, 226

235, 219
23, 526
111,695
50, 225
34, 941

+1.9
-6.1
+17.2
-11.8
-3.5

220, 679
170, 732
31, 638
18, 309

230,924
174, 407
35, 532
20, 985

226, 274
169, 671
35, 247
21, 356

293, 615
237, 937
37, 959
17, 719

288, 754
228,320
41, 767
18, 667

.152
.160

.168
.177

.195
.201

.133
.167

.142
.172

28, 890
.900

HIDES AND LEATHER
Hides
Imports:
Total hides and skins
thous. of lbs_.
34, 546
Calfskins
_
thous. oflbs..
3,319
' Cattle hides
thous. of Ibs. . 16, 228
Goatskins.
thous. of Ibs
8,640
Sheepskins
thous. oflbs..
4,454
Stocks, end of month:
Total hides and skins
thous. of lbs__ 234, 094
Cattle hides
thous. of Ibs.- 186, 430
Calf and kip skins
thous. of lbs._
31, 435
Sheep and lamb skins
_ -thous. of lbs_.
16, 229
Prices:
Green salted, packers' heavy
native steers
_
dolls. perlb_.
.140
Calfskins, country No. 1
dolls. perlb._
.152




7

Cumulative through June 30.

.219
.226

+12.3
+12.4
8 Revised.

+54.2
+31.4

30

TREND OF BUSINESS MOVEMENTS—Continued
I

The cumulatives shown are through
July, except where otherwise noted.
Earlier data for items shown here may
be found on pages 23 to 133 of the
August, 1927, " Survey "

PER CENT INCREASE (+) OR
DECREASE (— )

M26

1937

Per ct.
increase
(+)
or decrease
(-)
cumulative
1927
from
1926

CUMULATIVE TOTAL
FROM JANUARY 1
THROUGH JULY 31

April

May

June

July

June

July

July,
1927,
from
June,
1927

July,
1927,
from
July,
1926

1926

1927

98, 759
209, 671
17, 005

114, 484
212, 835
13, 790

98, 375
214, 616
21, 058

89, 059
148, 586
33, 031

100, 021
182. 057
19, 037

87, 244
164, 310
30, 373

-9.5
-30.8
+56.9

+2.1
-9.6
+8.8

579, 322
1. 402, 854
140, 485

612.121
1, 494, 854
155, 994

+5.7
+6.6
+11.0

742
454
3,330
960

785
462
3,766
992

799
430
4,253
1,058

743
355
3,431
1,014

852
480
3,429
1,081

864
426
3,127
1,042

-7.0
-17.4
-19.3
-4.2

-14.0
-16.7
+9.7
-2.7

5, 568
3,075
24, 206
7,266

5,316
2,932
26, 526
7,272

-4.5
-4.7
+9.6
+0.1

1,397
25, 897
59, 753
80, 464
22, 966

1,378
25, 842
60, 197
81, 719
8 23, 985

8 1, 352
25. 034
69, 866
81, 340
25, 349

1,365

1,115
21, 440
64,678
93, 896
18, 126

+1.0

+22.4

85, 926
22, 005

1,180
22, 922
82, 022
100, 097
20, 329

+5.6
-13.2

-8.5
+21.4

9.294
150, 771
399, 043
528, 314
161, 908

+21.8
+19.7
-5.0
-28.2
+5.1

128, 446

238, 983

217, 119

205, 530

236, 130

240, 002

-5.3

-14.4

90, 794
145, 298

90, 395
144, 257

91,441
142, 181

79, 337
141, 693

79, 601
151, 389

65, 608
274, 983

66. 298
267, 949

66, 315
251, 871

99. 835
300, 834

95, 990
295, 074

846

521

819

820

1,486

1,320

+0.1

-37.9

8,837

13, 388
2,896
9.786
706

11, 151
2,525
8,167
459

11, 004
2,478
7,932
594

11, 725
3,161
7,702
862

11, 048
2,294
7,987
767

10, 953
2.023
8,181
749

+6.6
+27.6
-2.9
+45.1

+7.0
+56.3
-5.9
+15.1

82, 788
17. 307
60, 975
4,506

.43
.46

.45
.48

.49
.48

.51
.51

.43
.45

.41
.45

+4.1
+6.3

+24.4
+13.3 ;

28, 389
595

25, 626
586

27, 302
591

25. 041
464

25, 052
533

-22.8

-14.4

March

HIDES AND LEATHER-Continued
Hides— C ontinued
Inspected slaughter of livestock:
Canada—
Cattle and calves.
_no. of animals.- 81, 890
Swine
no. of animals
233, 925
Sheep
..no. of animals.. 20, 396
United StatesCattle
thous of animals
761
Calves
thous. of animals
457
Swine
thous. of animals..
3,837
Sheep
thous. of animals
1,027
Leather
Production:
Sole leather. .thous. of backs, bends, sides. .
1,411
Finished sole and belting
thous. of lbs_. 26. 819
Finished upper
thous. of sq. ft.. 68, 747
Oak and union harness.. .stuffed sides
71, 184
Skivers
doz._
27, 405
Unfilled orders:
Oak and union harness
sides.. 99, 905
Stocks in process of tanning:
Sole and belting ...
.thous. of Ibs
91, 056
Upper
thous. of sq. ft.. 150, 325
Stocks, end of month:
Sole and belting
thous. of lbs._
66, 235
Upper
thous. of sq. ft
277, 143
Exports:
Sole
thous. of Ibs
1,150
UpperTotal
thous. of sq. ft_.
12, 293
Patent
_
thous. of sq. ft
2,404
Cattle and calf
thous. of sq. ft..
9,250
Sheep
thous. of sq. ft..
639
Prices:
Sole, oak, scoured backs,
heavy, Boston
_
dolls, perlb..
.43
Chrome calf, "B" grades. .dolls, per sq. ft..
.46
Leather Products
Shoes:
Production
thous. of pairs..
Exports
thous. of pairs..
Wholesale prices —
Men's black calf
blucher, Mass
dolls, per pair
Men's dress welt, tan
calf, St. Louis
dolls, per pair
Women's black kid, dress
welt, lace, oxford
dolls, per pair
Gloves:
Glove leatherProduction
thous. of skins
In process
Finished
Gloves, cut:
Total
Dress and streetImported leather
Domestic leather
Work gloves

thous. of skins _ _
thous. of skins..
dozen pairs
dozen pairs. _
. dozen pairs
dozen pairs

31,277
559

8

456 ,

6.40

6.40

6.40

6.40

6.40

6.40

6.40

0.0

0.0

4.85

4. 85

4.85

M.90

5.00

4.98

4.85

+2.0

+3.1

4.00

4.00

4.00

4.00

4.00

4.13

4.00

0.0

0.0

810

823

860

837

634

588

1,891
2,905

1,762
2,736

1,677
2,819

1,627
2,748

1,792
2,982

1,803
2,941

230, 749

219, 370

208, 924

223, 177

213, 069

183, 562

64, 588
43, 187
122, 974

62, 655
37, 928
118, 787

57,848
36, 503
114, 573

62, 219
37, 737
123, 221

RUBBER

50,240
38, 579
124, 239

49, 327
30, 792
103, 443

47,800
24,901

47, 310
35, 821

42, 189

7
7

7,630
125, 951
420, 141
736. 205
153, 982

7
7

5,907

7

7

164, 879 i +6. 9
+5.8
3,675

7

4, 313

1, 267, 665

-33.2

+ ].3
83, 860
18, 865 i +9.0
-0.6
60, 594
4,401 ! -2.3

7 154, 307
3,473

7

:

7

4, 865

1, 276, 417

+12.8

+0.7

7
7
7

292, 674
201, 800
773, 180

7
7
7

356, 878
214, 439
705, 130

+21.9
+6.3
-8.8

7

290, 914
242, 446

7

305, 990
260, 634

+5.2
+7.5

186, 262
161,225
287, 110

+11.6
+13.8
+10.1

,

Crude Rubber
World shipments, plantation
_ . long tons
64,131
Imports (including latex)
long tons. . 35, 515
Consumption (quarterly) :
Total
..long tons.. 1 91, 279
For tires
long tons
i 78, 577
Consumption by tire mfrs .thous. of Ibs
50, 614
Stocks, end of quarter:
1
Total
....
long tons
82, 233
1
Manufactures
long tons
68, 105
Dealers
. long tons
i 14, 128
Afloat
long tons.. i 45, 384
Stocks, end of month:
65, 634
United Kingdom
long tons
74, 390
Plantation, afloat
long tons
.286
Wholesale price, Para, N. Y
dolls, per lb._
» Quarter ending March 31, 1927.
* Qitarter end] ng




44, 751
46, 202

47, 495
36, 518

48, 415
33, 045

51, 333

47, 270

2 94, 983
2 82, 648
48, 778

3 80, 140
3 68, 542
42, 914

2 84, 811
71 778
13, 035
45, 169

3 59, 254
3 50, 610
3 8, 644
3
40, 713

2
2
2

69, 798
70, 099
73, 200
65, 700
.274
.300
June 30 , 1927.

37, 677

25, 399
71,600
66,300
.344
.278
.255
3 Quarter ending Ju tie 30, 1926.

+14.0

+5.2

+4.1
+5.2

+18.5
+20.6

+3.1
+5.4
-7.7
-0.5

+43.1
+41.8 !
+50.8
+10.9

7

166, 897
141, 623
260, 855

29,289
69, 700
.335
-23.9
-8.3
' O u mulativc) through June 30.

7

8

Revised.

31
TREND OF BUSINESS MOVEMENTS—Continued

The cumulatives shown are through
July, except where otherwise noted.
Earlier data for items shown here may
be found on pages 23 to 133 of the
August, 1927, "Survey"

March

April

PER CENT INCREASE (+) OR
DECREASE ( — )

1926

1927

July

June

May

June

July,
1927,
from
June,
1927

July

CUMULATIVE TOTAL
FROM JANUARY 1
THROUGH JULY 31

Per ct.
increase
or decrease

July,
1927,
from
July,
1926

1926

1927

cumulative
1927
from
1926

RUBBER— Continued
Tires and Tubes
Pneumatic tires:
Production
Stocks end of month
ShipmentsDomestic
.
Exports
Inner tubes:
Production
.
Stocks, end of month
Shipments —
Domestic
Exports
Solid and cushion:
Production
Stocks, end of month
Shipments—
Domestic
Exports

thousands
thousands. .

4,726
8,705

4,742
9,113

4,629
9,370

4,678
9,369

. thousands
thousands..

4,094
199

4,118
171

4,069
186

thousands..
thousands. .

5,395
12, 839

5,536
13, 371

4,534
90

4,669
105

thousands
thousands

4,072
8,989

3,718
7,956

4, 487
222

4,208
91

4,683
76

5,060
13, 813

4,742
13, 419

4,633
15, 194

4,301
12, 961

4,501
109

5,024
108

5,097
80

6,381
48

7

23, 161

7

7

19,7 656
543

7

7

29, 671

7

28, 464

-4.1

7

22,7 628
402

7

26,7 919
581

+19.0
+44.5

I

!

thousands _
thousands--

57
159

64
162

65
178

62
186

43
215

35
181

7

thousands. .
thousands _

54
8

54
5

52
4

50
6

45
5

45
3

7

26, 340

+13.7

23, 506 +19.6
1, 101 +102.8

7

319

7

225
31

7

338

+61.0

7

7

286
38

+27.1
+22.6

82, 933

86, 744

+4.6

105, 819

110,362

+4.3

9,179

+72.1

Other Rubber Products
Reclaimed rubber (quarterly) :
Production
long tons
Stocks, end of quarter .
long tons. .
Scrap rubber (quarterly) :
Stocks at reclaimers
:long tons_Consumption by reclaimers
long tons..
Rubber-proofed fabrics:
Production —
Total
thous. of yds._
Auto fabrics
thous. of yds._
Clothing fabrics
thous. of yds._
Rubber heels:
Production
thous. of pairsShipments —
To shoe manufacturers. thous. of pairs. To repair trade
...thous. of pairs. .
Stocks, end of month
-thous. of pairs. .

i 45, 547
i 21, 508

241.197
2
19, 287

3

3 38, 841
14, 581

-9.6
-10.3

+6.1
+32.3

i 62, 807
i 58, 303

2 58, 331
2 52, 059

3 69, 914
3 53, 382

— 7. 1
-10.7

— 16.6

2,427
978
1,190

2,319
820
1,498

2,175
955
1,206

1,573

13, 640

14,169

16, 133

7,906
6,367
47, 822

6,682
6,507
47, 869

7,128
7,016
47, 516

166, 411
148, 360
198, 338
23, 746

165, 680
142, 483
221, 535
19, 772

160, 192
137, 997
243, 762
17, 217

2,445
1,099
778

2,458
999
954

16, 341

12, 769

11, 109

8,833
9,303
45, 453

7,541
5,902
56, 701

8,651
6,370
51, 697

—

2,047

-2.5

+30.1 +114.6

5,332
|

7

90, 151

7

86, 676

39

7
7

48, 882
24, 299

7
7

43, 886
37, 268

-10.2
+53.4

1, 002, 580
984, 504

-9.8
-8.7

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, sulphite
dolls, per 100 lbs._

235, 408
232, 858
42, 800
97, 063
2.75

8
8

short tons.. 88 134, 028
short tons. . 174, 094

8
8
8

130, 158
135, 689
238, 231
20, 275

108, 322
127, 623
218, 795
13, 344

165, 312
155, 229
241, 754
26,067

130, 197
147, 005
224, 948
21, 645

-16.8
-5.9
-8.2
-34.2

-16.8
-13.2
-2.7
-38.4

1,111,418
1, 077, 973

155, 403

125,455

-19.3

8
8

214, 816
215, 020
39, 086
109, 700
2.60

198, 808
198, 068
40, 278
117, 734
2.60

225, 330
223, 214
42, 132
136, 577
2.95

217, 150
213, 550
45, 710
129, 237
2.95

-7.5
-7.9
+3.0
+7.3
0.0

-8.4
-7.2
-11.9
-8.9
-11.9

1, 550, 674
1, 554, 452

1, 519, 102
1, 515, 900

-2.5

799, 163

767, 191

-4.0

118,929
162, 564
157, 325

142, 167
158, 601
161, 156

140, 606
163, 037
147, 584

-5.5
-5.3
—7.2

-15.4
-0.3
+6.6

984, 623
1, 056, 790
1, 134, 427

894, 236
1, 160, 233
1, 187, 935

-9.2
+9.8
+4.7

119, 840
159, 843
159, 686

141, 494
161, 108
162, 972

142, 773
161, 824
153, 865

-2.5
-5.4
-1.1

-16.1
-1.2
+3.8

981, 414
1,054,097
1, 038, 217

879, 659
1, 142, 265
1, 106, 282

-10.4
+8.4
+6.6

-48.3
-6.8

13, 141
968, 881

8,371
1,041,441

-36.3
+7.5

218, 996
221, 406
39, 226
82, 536
2.75

8
8

8

130, 917
166, 460
186, 138

8
8

128, 046
171, 819
186, 268

8

125, 837
171, 586
169, 536

8
8

129, 691
168, 711
147, 736

8

127, 635
170, 468
170, 545

8
8

122, 930
168, 951
161, 473

214, 848
214, 918
39, 120
116,912
2.63

0

f)

Newsprint Paper
Production:
United States
Canada

Consumption by publishers
short tons_.
Shipments:
United States
short tons 8
Canada
.short tons.. 8
Imports
short tons
Exports:
United States
short tons..
Canada
_ .
short tons
Stocks, end of month:
At millsUnited States
.short tons..
Canada
_
short tons..
At publishers
..short tons..
In transit to publishers
short tons..
Price, roll, f. o. b. mill
dolls, per 100 Ibs..

176, 356
129, 748
169, 061
166, 531

8

1,648
184, 502

1,073
123, 449*

1,314
149, 924

1,119
159, 495

983
140, 543

1,526
141, 889

1,902
150, 778

-12.2
-11.9

22, 744
28,462
227, 049
42,884
3.30

24, 105
26, 389
215, 329
40, 798
3.30

24, 233
27, 520
193, 005
43, 862
3.30

26, 549
28, 851
196, 860
40,784
3.30

27, 764
32, 282
196, 897
40, 476
3.30

18, 852
11, 795
115, 714
32, 391
3.50

16, 524
12, 963
152, 295
31,811
3.50

+4.6 +68.0
+11.9 +149. 0
0.0 +29.3
-0.8 +27.2
-5.7
0.0

699
141

819
135

693
70

588
93

723
105

491
88

606
108

12, 085
12. 521

11,045
11. 167

12, 233
10. 781

11, 790
19. 707

12, 231
8 870

12, 946

11,638

Printing
Book publication:
American manufacture
Imported.
rio.
Sales books:
New orders
Shipments

no of titles
of titles
thous. of books
thous. of books..

» Quarter endding Mar. 31, 1927.




2 Quarter endding June 30,1927.

19 439

3 Quarter endding June 30, 1926.

Q K78
1

+23.0
+12.9

+19.3
-2.8

4,485
919

4,904
789

+9.3
-14.1

+3.7

+5.1

83, 933

83, 935

0.0
•} •?

— 1C\ 9

—7 4

81 1'*7

Cumulative through June 30.

7ft 491
8

Revised.

32

TREND OF BUSINESS MOVEMENTS—Continued
1927

The cumulative* shown are through
July, except where otherwise noted.
Earlier data for items shown here may
be found on pages 23 to 133 of the
August, 1927, " Survey "

PER CENT INCREASE (+) OR

1926

DECREASE ( — )

Per ct.
increase
(+)
or decrease
(-)
cumulative
1927
from
1926

CUMULATIVE TOTAL
FROM JANUARY 1
THROUGH JULY 31

..

July,
1927,
from
June,
1927

July,
1927,
from
July,
1926

March

April

May

June

July

June

July

8,628
81.1
219, 824
230, 065
114,369
209, 730
217, 876
54,566

7,771
75.9
205, 589
197, 435
101, 861
189, 942
209, 944
50,211

8,147
82.7
199, 185
192, 061
93, 748
192, 327
199, 982
49, 144

7,913
77.2
214, 681
215, 135
95,839
179, 835
211, 223
52, 751

7,369
73.7
189, 193
211, 875
115, 597
180, 022
193, 182
49, 381

9,140
87.9
221, 909
242, 089
109, 559
213, 912
215, 931
60,080

8,604
82.8
206, 235
219, 271
122, 202
201, 582
206, 591
59, 193

-6.9 -14.4
-3.2 -11.0
-11.6
-8.3
-0.6 -3.4
+21.2
-5.4
-2.4 -10.7
-8.5 -6.5
-6.3 -16.6

155, 513
43, 789

147, 938
46, 314

149, 838
59, 289

151, 731
43, 672

150, 618
51,520

139, 967
58, 820

145, 334
60, 462

-1.0
+17.6

110,217
66, 099

8

103, 604
71, 387

110,856
V2, 101

89. 793
73, 543

111, 786
67. 920

100, 607
64, 524

-19.0 -10.7
+2.0 +14.0

95
94
87
10

94
88
84
12

94
94
76
8

88
83
79
9

88
88
83
6

83
84
81
6

-6.4 +6.0
-11.7 -1.2
+3.9 -2.5
+12.5 +50.0

92
87
90
10

93
89
89
10

87
82
68
8

80
80
77
8

92
88
86
12

88
87
91
13

-8.0
-2.4
+13.2
0.0

85, 114
77, 107

87, 391
72, 019

84, 142
67, 642

33, 360
48, 801

36, 780
53, 675

36, 489
52, 104

-11.4
-5.6

90, 963
73, 012

103, 594
84, 146

98, 006
81, 963

607, 352
349, 608

703, 627
356, 692

1926

1927

60, 045

54, 410

-9.4

780, 729

769, 843

-1.4

PAPER AND PRINTING-Continued
Box Board*
Operation
..
..thous. of inch hours..
Operation
per ct. of capacity. .
Production
tons..
New orders
tons
Unfilled orders, end of month _
tons..
Consumption of waste paper
tons..
Shipments
- __tons__
Stocks, end of month
tons..
Stocks of waste paper, end of month:
On hand
tons..
In transit and unshipped purchases. .tons. _

+3.6
-14.8

Book Paper
Book paper, total:
Production
short tons.. 123, 839
Stocks, end of month
short tons.. 66, 767
Coated book paper:
90
Production
.. per ct. of normal ..
Shipments per ct. of normal production..
90
94
Orders
per ct. of normal production10
Unfilled orders end of month
days
Uncoated book paper:
98
Production
per ct. of normal..
95
Shipments per ct. of normal production..
Orders. „.
per ct. of normal production..
90
9
Unfilled orders end of month
days

-9.1
-8.0
-J5.4 '
-38.5

1

. ..

Other Paper
Wrapping paper:
93, 419 8 84, 451 8 88, 818
Production
short tons.. 98, 325
69, 116
72, 705 s 73, 081 8 74, 532
Stocks end of month
short tons
Fine paper:
Production
. .short tons. _
39, 195
40, 539 8 38, 734 8 37. 635
49, 446 8 50 436 8 51, 695
49, 518
Stocks end of month
short tons
All other grades:
99, 211 8 100, 357 8 100, 515
Production
_ .
short tons.. 108, 797
67, 589 8 72, 942 8 73, 897
Stocks end of month
short tons . _ 66, 662
Total paper (inc. newsprint and boxboard) :
Production
short tons.. 8 724, 008 s 679, 892 8 654, 802 s 677, 757
Stocks end of month
_ .short tons. _ 329, 373 330. 155 8 341, 223 8351.345

-4.2 + 1.2
+3.5 +14.0

615, 018

627,938

+2.1

-8.6
-6.3

274, 353

258, 675

-5.7

-9.5
-1.2

-7.2
-10.9

721, 109

694, 170

-3.7

666, 085
341, 950

-10.4
-0.5

-8.8
+2.2

4, 839, 252

4, 636, 076

-4.2

+6.3
+6.2
+6.6

-4.9
-2.4
-14.2

2,707,814

2, 768, 274
2, 216, 594
551, 680

+2.2
+4.2
-5.0

Paperboard Shipping Boxes
Production:
Total
Corrugated
Solid
fiber
Operating activity:
Total
Corrugated Solid
fiber
Paper boxes:
Shipments
Payroll

thous. of sq. ft..
thous. of sq. ft..
thous. of sq. ft..

421, 110
338,400
82, 710

403. 165
322, 002
81, 163

406, 633
326, 474
80, 159

360, 888
290, 546
70, 342

383, 565
308, 585
74, 980

387, 650
302, 622
85, 028

403, 386
316, 039
87, 347

per cent of normal..
per cent of normal ._
per cent of normal .

79
80
76

76
77

75
75
76

67
68
64

68
69
66

77
77
78

77
78
75

-

dollars 1,175,717 1, 128, 205 1, 060, 508
.dollars.. 315, 073 296, 293 297, 680

!

i
118

108

114

118

123

127

98, 054
20, 844
81.0

85, 334
16, 714
79.7

85, 928
17, 735
72.0

81,917
15, 877
124.1

93,003
13, 591
98.1

77, 756
12, 277
101.9

66.1

7526,300
7

-46.7

-35.1

-11.3

+5.8

4,183
161, 754

5,895
160, 088

5,828
150, 558

4, 526
154, 694

4,013

4,318
166, 738

3,793
160, 732

190
189

190
190

195
196

197
197

Building Costs (Index Numbers)
Building materials:
191
190
Frame house, 6-room, 1st of month .
189
Brick house, 6-room, 1st of month
189
190
189
Concrete factory costs (Aberthaw),
1st of following month
.
193
193
193
Building costs (Engineering News Record),
209
207
1st of following month
..
206
201
201
Building costs (A G. C )
200
135
166
Building volume ( AL G C )
197
Construction index:
204
204
204
Frame
index number..
213
213
213
Brick wood frame
index number
197
197
Brick steel frame
index number _
196
200
200
199
Reinforced concrete
index number..
' Cumulative through June 30.




7

511, 179
97, 314

-2.9
+ 13.8

30, 531
892, 287

+3.7
-5.3

7

85, 546

i

BUILDING CONSTRUCTION AND
HOUSING
Rental advertisements:
Minneapolis Minn
..number..
Real estate conveyances (41 cities)
number

+1.5 -11.7
+ 1.5 -11.5
+3.1 -12.0

1, 132, 586 1, 053, 531
315, 251 301. 333

Other Paper Products
Ropepaper sacks, shipments. . .index number..
Abrasive paper and cloth:
Domestic sales
reams _ .
Foreign sales
reams . _
Labels, orders
-per ct. of capacity..

2, 127, 303
580, 511

0.0
0.5

-3.6
-3.6

192

192

199

198

0.0

-3.0

204
200
212

206
199
221

208
198
220

208
198
228

+1.0
-0.5
+4.2

-1.0
+0.5
-3.1

204
213
196
200

205
214
197
200

203
213
200
201

203
+0.5
213
+0.5
197
+0.5
200
0.0
8 Revised.

+1.0
+0.5
0.0
0.0

29, 429

7942,708

7

33

TREND OF BUSINESS MOVEMENTS—Continued
1927

The cumulatives shown are through
July, except where otherwise not^^i.
Earlier data for items shown here may
be found on pages 23 to J33 of the
August, 1927, "Survey"

March

PER CENT INCREASE (+) OR
DECREASE (— )

1926

July,
1927,
from
June,
1927

July,
1927,
from
July,
1926

CUMULATIVE TOTAL
FROM JANUARY 1
THROUGH JULY 31

Per ct_
increase
(+)
or decrease
(-)
cumulative
1927
from
1926

1926

1927

+0.7 +16.6
-40.4
-1.0
-17.2
-0.6
-3.1 -11.4

84, 274
46, 415
298, 378
31, 646

83, 186
40, 471
271, 520
31,003

-1.3
-12. &
-9.0
-2.0

-23.6
-13.4

+31.9
-1.2

36, 102
499, 922

44,064
476, 458

+22.1
-4.7

65, 347
59, 703
177, 646
40, 874

-1.7
-12.0
-22.5
-13.7

+24.2
-51.4
+1.8
-14.4

501, 258
380, 790
1, 504, 023
214, 678

561, 631
260, 004
1, 444, 719
217, 485

+12. 0
-31.7
-3.9
+ 1.3

47, 798
91, 809
523, Oil
54,186

48, 374
109, 436
501, 380
33, 865

-30.7
-8.0
-16.0

+8.2
+23.9
+2.5

305, 209
585, 292
3,7 491, 247
194, 544

394, 704
706, 103
3,7 586, 655
191, 324

+29.3
+20. 6
+2.7
-1.7

28, 676

31, 723

-4.8

-23.6

260, 509

201, 171

-22. 8-

3, 174, 114 2, 962, 397
3, 276, 348 2, 900, 956
3, 272, 766 2, 982, 181

-6.7
-11.5-8.9

April

May

June

July

June

12, 259
9,187
47, 731
4,515

12, 499
6,062
38, 228
5,136

12, 395
5,541
42, 038
5,374

12, 485
5,484
34,803
5,207

12, 015
5,610
44,154
5,635

10,704
9,209
34,999
5,876

5,582
79, 722

7,957
70, 580

8,465
75, 231

6,465
65, 182

5,938
73, 802

4,901
66,004

78, 084
40, 032
259, 841
34, 326

69, 183
42, 869
212, 500
33, 655

82,543
32, 985
233, 193
40,568

81, 130
29, 043
180, 840
35, 006

66, 064
53, 725
224, 771
38,845

58, 227
113, 246
583, 766
8 38, 582

67, 334
105, 220
530, 762
846,759

75, 479
147, 343
612, 111
52, 229

52, 326
135, 581
513, 926

39, 724

20, 713

25, 481

24, 249

. July

BUILDING CONSTRUCTION AND
HOUSING— Continued
Building Contracts and Losses
Contracts awarded (36 States) :
Commercial buildings
thous. of sq. ft_.
14, 712
Industrial buildings
thous. of sql ft__
6,239
Residential buildings
thous of sql ft
47, 938
Educational buildings
thous. of sql ft_.
5,475
Other public and semipublic buildings
thous. of sql ft
7,569
Grand total
thous. of sq. ft._
82, 827
Contracts awarded, value (36 States):
Commercial buildings _._ thousl of dolls _ _ 106, 925
Industrial buildings
thous. of dolls.. 47, 560
Residential buildings
thous. of dolls. _ 240, 312
Educational buildings _ _ thous. of dolls..
35, 413
Other public and semipublic buildings
_ _ thous. of dolls..
63,948
Public works and utilities.-thous. of dolls.. 101, 717
Grand total
thous. of dolls
595, 874
Contracts awarded, Canada
thous. of dolls.. 8 17, 466
Fire losses:
United States and Canada__thous. of dolls..
26, 808
LUMBER PRODUCTS
Softwood Lumber
Southern pine:
Production (computed)
M ft. b. m__ 444, 469 412, 472 439, 870 426, 123 413, 634
449, 745 449, 794
-2.9
-8.0
Shipments (computed)
M ft. b. m_. 452, 940 438, 466 460, 588 405, 744 399, 064
469, 108 471, 819
-15.4
-1.6
New orders (computed)
M ft. b. m__ 459, 862 433, 287 463, 831 407, 970 388, 511
435, 126 460, 685
-4.8 -15.7
Stocks, end of mo. (computed) . M ft. b. m__ 1, 239, 474 1, 205, 135 1, 218, 391 1,208,417 1, 255, 002 1, 086, 086 1, 070, 179
+3.9 +17.3
Exports, lumber
M ft b m
51, 244
80, 305
63, 216
73, 035
72, 334
48, 992
44, 790
-1.0
+61.5
Exports, timber
M ftl bl m
89
311
131
389
498
271
85 +280. 2 -485. 9
Price
flooring
dolls, per M ft. b. m._
39.32
39.66
38.31
39.56
38.96
44.63
11.3
43.17
-1.7
Douglas fir:
Production __
..Mft.b.m
511,213 484, 355 532, 253 510,319
560,455 491, 965
Shipments (computed) .„
M ft. b. m _ 510, 766
548, 369 551,950
565, 827
577, 913 508, 975
New orders
M ft b m
546, 130 548, 368 553, 741 502, 709
573, 884 532, 253
Exports, lumber
M ft. b. m__
47, 720
59, 973
46,699
68, 544
52, 837
65, 340
44, 531 -22.9 +18.7
Exports, timber-Mft.b.m _
39, '294
56, 865
47, 495
58,441
45,003
65, 518
36, 065 +23.0 +62.0
Price, No. 1 common dolls, per M ft. b. m__
16.80
17.24
16.56
16.34
16.51
16.50
16.97
-2.7
+1.0
Price, flooring, 1 x 4, "B" and
better, V. G_
_
M ft. b. m_
35.99
35.69
35.81
39.47
35.77
35.88
39.27
+0.3
-8.6
California redwood:
Production (computed)
M ft. b. m__
42,418
44, 692
40,404
34, 199
35, 177
37,802
+14.4
30, 76?
-6.9
Shipments (computed)
M ft. b. m__
51,273
44, 278
56, 527
41, 970
40, 448
-4.4
36, 055
37, 702 -14.1
Orders received (computed) _ - - M ft. b. m__ 59, 952
55,619
47, 394
51, 766
35, 147
42,530
34, 135 -32.1
+3.0
California white pine:
Production
M ft. b. m__
44, 323
57, 305 114,984
150,098 139,651
169,420
154,409
-7.0
-9.6
Shipments
. _ M ft. b. m__ 105,261 100, 206
106, 470
109, 760
133, 923
-11.1
115,056
123,414
-4.6
Stocks, end of month _
M ft. b. m__ 522,422 477,411 482,405 551,687 567,809
605, 169 606, 335
-6.4
+2.9
Western pine:
Production (computed)
M ft. b. m__ 117,722
154, 742
160, 121 88172,088 165, 636
180, 746
175, 363
-5.5
-3.7
Shipments (computed)
M ft. b. m__ 143,711
156, 237
146, 741
144, 557 140, 735
154, 785
172,648
-2.6 -18.5
Stocks, end of mo. (computed). M ft. b. m_ 1,014,062 1,056,021 1,027,541 81,050,042 1,093,522 1, 170, 478 1,180,321
+4.1
-7.4
North Carolina pine:
Production (computed)
M ft. b. m__
48, 755
49,462
50, 204
47, 649
50, 190
45, 136
46,347
+5.3 +8.3
Shipments (computed)
M ft. b. m__
47, 838
51,191
50, 918
50, 001
48,727
43, 631
-1.5
49,490
-2.5
Northern pine:
Lumber—
Production
_ _ M f t . b. m_
31, 109
42, 302
47, 379
55, 502
46,359
51, 571
51, 549 -16.5 -10.1
Shipments
M ft. b. m__
38, 777
41, 353
43, 401
51,972
45, 188
40,433
56,490 -10.5 -28.4
New orders
_
_ M ft. b. m_
33, 908
44, 555
44,451
39, 203
50, 690
46, 783 +11.9 -16.2
35,045
LathProduction
__ thousands..
6,532
9,866
13, 194
15, 728
15, 722
13, 090
15, 944 -16.7 -17.9
Shipments
thousands _
7,875
9,675
13,634
18, 348
14, 758
15, 229
13,422
+3.2 +13.5
Northern hemlock:
Production
_
_ _ M ft. b. m__
17,820
16, 159
16, 931
14, 899
16, 229
19,905
Shipments
M ft. b. m _
21,462
22, 278
23, 922
24, 772
25, 107
21,738

338, 141
19, 529

451, 274
2,750

+33. &
-85.9

3,469, 716
437,185
310, 842

2,958, 951
3,074, 446
3,125, 925
377, 742
296, 541

-10.4
-10.3
-9.9
-13.6
-4.6-

303, 491
276, 021
300, 800

258, 808
303, 015
332, 599

-14. 7
+9.8
+10.6

831,819
817,926

606,429
686, 333

-27.1
-16.1

1,028,623
1,014,433

919, 656
963, 753

-10.6
-5.0

343, 721
345, 457

348, 985
353, 696

+1.5
+2.4

296,219
325, 781
305,044

290, 271
273, 312
258, 739

-2.0
-16.1
-15.2

78,017
83, 221

72, 993
75, 227

-6.4
-9. 6

107, 474
12?, 681

+6.5
+10. 0

20, 214
23, 314

19,700
20, 504

-2.5
-12.1

22,395

21,655

-3.3

7
3,301,849 77
7
3,428,
979 7
7

77 100, 893
111, 551

7
7

Hardwood Lumber
Walnut lumber:
Production _ _
_ M ft. b. m
3,319
2,547
2,717
Shipments
M ft. n. m__
3,115
2,745
2,884
Stocks, end of month
M ft. b. m
11,291
11,093
10, 915
New orders _
M ft. b. m__
3,736
2,978
3,042
Unfilled orders, end of month M ft. b. m _
7,279
8,243
8,114
Walnut logs:
Purchased
M ft. log measure-2,858
2, 285
3,440
Made into lumber and
veneer M ft. log measure
2,738
2,176
2,476
Stocks, end of month. M ft. log measure
2,047
1,918
2,882
J
Cumulative through June 30.




3,127
2,987
11,063
2,654
8,061

2,967
2,661
11,436
3,060
8,249

3,043
3,074
16, 992
2,880
6, 930

2,134
3,057
15,463
3, 101
7,418

3,184

3,083

3,417

2,399

-3.2

+28.5

19,209

19,408

+1/0

2,883
3,083

2,583
3,316

2,803
2,961

2,168 -10. 4
3,193
+7.6
8
Revised.

+19.1
+3.9

17,360

17, 305

-O.S

-5.1 +39.0
-10.9 -13.0
+3.4 -26.0
+15. 3
-1.3
+2.3 +11.2

34

TREND OF BUSINESS MOVEMENTS—Continued
1927

The cumulatives shown are through
July, except where otherwise noted.
Earlier data for items shown here may
be found on pages 23 to 133 of the
August, 1927, " Survey "

March

PER CENT INCREASE (+) OR
DECREASE (— )

1926

July

July,
1927,
from
June,
1927

July,
1927,
from
July,
1926

June

July

27,470
26,867

17, 169
26,468

801,223
212, 043
284,908

820, 714
235, 525
259, 965

819, 196
232,729
269, 228

+5.7
+8.0
+5.4

-2.2
-8.9
+5.8

591, 505
147, 245
212, 383

633,359
164, 185
222, 997

640, 937
175, 186
199, 732

641, 713
166, 894
210,390

+7.1
+11.5
+5.0

-1.3
-1.6
+6.0

205, 994
65, 237
67, 964

197, 092
61, 124
63, 934

196,905
61, 634
67, 836

210, 850
73, 617
68, 836

206, 584
73, 191
67, 198

-0.1
+0.8
+6.1

-4.7
-15.8
+0.9

59, 0;00
89, 000
88, 000

8 69, 000
80, 000
8 66, 000

76, 000
74, 000
72, 000

95, 000
84, 000
92,000

94, 000
91, 000
92, 000

+10.1
-7.5
+9.1

-19.1
-18.7
-21.7

-10.5

+33.8

-9.2
-1.4

-8.6
+8.8

+0.3
-0.3

+6.6
+1.2

April

May

June

52,610
34,848

40,625
27,838

28,691
26,919

27,939
29,825

862, 428
225,823
303, 719

802, 761
200, 180
290, 994

770,467
191, 549
276, 704

758, 206
196,277
270, 266

661, 711
159, 759
241, 518

617, 375
142,647
229, 171

595, 295
139, 531
215, 629

234,933
81, 904
68, 633

219, 108
72, 069
69, 044

83,000
92, 000
94, 000

62. 000
85, 000
89, 000

CUMULATIVE TOTAL
FROM JANUARY 1
THROUGH JULY 31

1926

1927

7271,068
7182,842

7228,080
7173,080

602. 000
605, 000
629, 000

517, 000
598, 000
599, 000

Per ct.
increase
(+)
or decrease
(-)
cumulative
1927
from
1926

LUMBER PRODUCTS— Continued
Hardwood Lumber— Continued
Northern hardwoods:
Production
M ft. b. m__
Shipments
_M ft. b. m._
Total stocksTotal hardwoods
M ft b m
Gum
M ft. b. m _
Oak
___ M ft. b. m._
Unsold stocksTotal hardwoods
M ft. b. m__
Gum
M ft. b. m__
Oak
M ft b m
Unfilled orders—
Total hardwoods
_M ft. b. m
Gum
M ft. b. m._
Oak...
Mft. b. m_.
All hardwoods:
Production (computed)
M ft. b. m__
Shipments (computed)
M ft. b. m_.
Orders (computed).
._. ,__M ft. b. m__

-15.9
-5.3

-14.1
-1.2
-4.8

Total Lumber
Production, 10 species
_ . . _M ft. b. m._2, 378, 995 2, 268. 148 2, 452, 123 82,418,206 2,292,355 2, 582, 349 2, 443, 684
178, 197
Exports, planks, joists, etc
__..M ft. b. m_. 153, 700 188, 014 192, 997 213, 464
191, 145
142, 895
Retail yards, Minneapolis district:
18,154
Sales
..._Mft. b. m_.
21, 340 88 19, 855
15, 619
19, 997
9,824
13, 809
104, 699
Stocks, end of month.. _
M ft. b. m._ 105, 096 103, 152 106, 879 103, 713 102, 261
93, 963
Composite lumber prices:
Hardwoods
. dolls, per M ft. b. m__
42.47
42.59
41.61
39.95
41.96
40.65
40.80
30.22
Softwoods
dolls, per M ft. b. m..
30.65
30.65
30.57
30.21
30.26
30.52
Flooring
Maple flooring:
Production
M f t . b. m__
Shipments _.
.
Mft. b. m__
Stocks, end of month
M ft. b. m._
New orders
M ft. b. m _
Unfilled orders, end of month.. M ft. b. m_.
Oak flooring:
Production _ _ _ _
M ft. b. m._
Shipments
M ft. b. m
Stocks, end of month
_M ft. b. m .
New orders
M ft. b. m
Unfilled orders, end of month..M ft. b. m._

17, 757, 251 16, 124, 959
1,] 68, 928 1, 271, 624

-9.2
+8.8

98, 197

89, 598

-8.8

9,589
9,363
30,367
8,120
9,300

8,141
10, 022
28, 154
9,103
10, 856

8,282
11, 921
25, 055
11, 785
13, 238

10, 101
11, 526
25, 061
5,310
11, 634

9,691
9,536
26, 146
4,044
9,083

8,624
9,334
30. 290
9,949
9,317

8,329
10, 414
28, 557
8,963
8,755

-4.1 +16.4
-8.4
-17.3
-8.4
+4.3
-23.8 -54.9
+3.7
-21.9

60, 966
59, 721

64, 534
68, 333

+5.9
+14.4

59, 207

51, 354

-13.3

39, 917
42, 535
67, 833
44, 609
47, 975

35, 697
40, 970
62, 196
45, 763
51, 623

40,380
49,034
51, 430
48, 424
52,315

42, 522
37, 132
58, 276
22, 707
37,983

38, 435
30, 155
66, 102
21, 699
29, 773

44, 056
46, 035
59, 737
45, 302
41, 744

44, 789
46, 259
56, 450
47, 545
39, 260

-9.6
-18.8
+13.4
-4.4
-21.6

-14.2
-34.8
+17.1
-54.4
-24. 2

316, 882
300, 189

267, 767
266, 680

-15.5
-11.2

284, 609

259, 832

-8.7

60, 207
47, 330

46, 214
36, 952

45, 042
43, 125

39, 115
41, 574

41, 695
48, 025

40,331
68, 891

7 285, 854

7 282, 064

-1.3

27
22

20
14

17
29

17
29

23
25

22
28

26
42

42

33

42

53

55

60

72

55
16.0
97.5

47
26.0
95.0

44
10.0
95.0

43
7.5
96.5

50
10.5
89.0

47
11.0
100.0

46
5.0
97.0

70, 092

52, 764

-24.7

Wooden Furniture
Household furniture and case goods:
Shipments
dolls., average per firm..
Unfilled orders
dolls , average per firm
Grand Rapids district:
Shipments .
No. of days' production
New orders
No. of days' production
Unfilled orders, end of
month. ... No. of days' production
Outstanding accounts, end of
month
No of days' sales
Cancellations.
per cent of new orders
Plant operation
per cent of full time
Piano benches and stools:
New orders (av. per
firm)
dollars..
Unfilled orders, end of month
(av. per
firm)
dollars
ShipmentsValue (av. per
firm)
dollars-Quantity (total)
pieces..
Plywood and Veneer
Plywood:
New orders
thous. of sq. ft. of surface-Shipments
.thous. of sq. ft. of surface..
Unfilled orders, end of
month
thous. of sq. ft. of surface..
Rotary-cut veneer:
Purchase...
number of carloads _
Receipts
number of carloads--

+35.3
-13.8

-11.5
-40.5

+3.8

-23.6

+16.3 +8.7
+40.0 +110. 0
-7.8
-8.2

7,837

8,129

7,011

6,507

6,273

8,332

8,231

-3.6

—23.8

2,286

2,004

1,972

1,578

1,517

1,897

2,511

-3.9

-39.6

8,428
10, 670

7,935
10, 218

6,976
8,900

6,860
8,596

6,322
8,191

9,878
11, 153

7,604
9,979

-7.8
-4.7

-16.9
-17.9

68,377
80, 528

52, 035
66, 523

-23.9
-17.4

3,526
3,373

2,362
2,370

3,426
2,136

2,577
2,519

2,251
2,134

3,605
3,936

3.696
3,406

-12.7
-15.3

-39.1
-37.3

24, 607
28,209

21, 072
18, 874

-14.4
-33.1

3,814

3,182

3,290

3,197

3,059

3,443

4,437

90
100

84
84

127
100

85
90

116
83

344
208

227
172

-4.3

-31.1

+36.5
-7.8

-48.9
-51.7

1,417

633

-55.3

1, 281, 528
790, 622 997, 792 +194. 3
1, 143, 909
813, 932 814, 754 +45.4
630, 744
699, 165 847, 249 -32.8
1, 637, 984 1, 853, 831 1. 832, 283 +27.2
3, 273. 312 2, 676, 208 2, 578. 671
+0.3
8 Revised.

+28.4
+40.4
-25.6
-10.6
+26.9

3, 532, 887
4, 523, 845
3, 837, 728

5. 123, 914
5, 159, 435
3, 654, 157

+45.0
+14.0
-4.8

Barrel Headings
Circled headings for wooden boards:
Production (rough)
Shipments (finished).. . .
New orders (finished)
Unfilled orders, end of month
Stocks on hand, end of month




sets
965, 163 854, 926 338, 029 435. 505
779, 871 596, 346 452, 978 786, 607
sets
sets.. 250, 939 282, 009 460, 217 938, 347
sets 1, 072, 794 1, 166, 942 1, 166, 943 1, 287, 654
..sets.. 3. 309, 362 3, 278, 677 3, 460, 562 3, 264. 706
7 Cumulative th rough June 30.

35

TREND OF BUSINESS MOVEMENTS—Continued

The cumulatives shown are through
July, except where otherwise noted.
Earlier data for items shown here may
be found on pages 23 to 133 of the
August, 1927, " Survey "

PER CENT INCREASE (+) OR

1926

1927

DECREASE (— )

May

April

March

June

July

July

June

July,
1927,
from
June,
1927

CUMULATIVE TOTAL
FROM JANUARY 1
THROUGH JULY 31

July,
1927,
from
July,
1926

1926

1927

Per ct.
increase
(+)
or decrease
(-)
cumulative
1927
from
1926

STONE, CLAY, AND GLASS
PRODUCTS

Clay Products
Face'brick, averages per plant:
Production
..thousands.
852
Shipments
thousands. _
687
Stocks, end of month
thousands..
2,939
Unfilled orders, end of month. .thousands..
1,007
Common brick:
Stocks, end of monthBurned
thousands.. 427, 484
Unburned
thousands.. 69, 160
Shipments
thousands.. 184, 206
Unfilled orders, end of month.. thousands.. 369,
857
Plants closed down
number..
54
Price, red, New York
dolls, per thous..
17.00
Paving brick:
Production, actual
thousands. _ 23, 132
Shipments
._.
thousands.
7,787
Stocks, end of month
thousands.. 84,
316
Orders received
thousands..
15, 063
Cancellations
thousands..
985
Unfilled orders, end of month ..thousands.. 57, 550
Operations, relation to
capacity
percent..
40
Sand lime brick:
Production
thousands..
16, 748
Shipments by rail
-thousands..
7,707
10,811
Stocks, end of month
thousands..
13, 802
Unfilled orders, end of month. .thousands.. 25,
415
Vitreous china plumbing fixtures:
Orders received
pieces.. 8 213, 166
Shipments
pieces.. 8 239, 245
Unfilled orders, end of month
pieces.. 351,091
Stocks, end of month
pieces.. 8 596, 685
Floor and wall tile:
Production
thous. of sq. ft..
5,467
Shipments, quantity
thous. of sq. ft..
5,188
Shipments, value.
thous. of dolls .
1,963
Stocks end of month
thous of sq ft
11, 282
Architectural terra cotta, new orders:
Quantity
...net tons .
8
Value
thous. of dolls.. 812,392
1, 356

8
8
8
8

729
774
2,614
1,074

819
860
2,507
1,069

906
918
2,625
1,113

371, 320
100, 953
197, 411
348, 211
2
16.50

329, 572
154, 151
237, 107
274, 959
1
15.50

331, 748
169, 712
231, 064
254, 191
2
13.50

22, 973
13, 864
91, 670
20, 095
327
67, 823

23, 667
20, 628
81, 606
27, 903
145
61, 385

23, 888
24, 177
78, 898
25, 448
993
61, 541

836
895
2,028
1,130

8-59
823
2,040
1,147

11.75

193, 246
46, 310
149, 170
220, 078
2
17.00

218, 348
58, 652
140, 623
234, 164
5
17.00

26, 342
30, 312
115, 971
35, 451
3,396
75,283

27, 611
37, 443
101, 243
41, 761
392
78,947

65

77

75

63

71

16, 218
6,230
11, 895
9,779
18, 463

23, 225
8,196
13, 251
8,740
17, 237

19, 171
7,553
13, 460
9,743
18,293

17, 940
9,465
8,302
6,855
23,446

20, 819
5,649
10, 996
7,613
18, 526

332, 187
305, 007
480, 579
518, 484

260,704
268, 038
473, 245
505, 393

5,646
5,406
2,015
8,372

5,716
5,401
2,048
8,824

217, 740
220, 786
347, 645
618, 492

8
8
8
8

241, 315
246, 223
342, 717
607, 968

5, 453
4,948
1,879
11, 658
8

776
785
2,513
1,026

8
8
8

344, 541
296, 818
390, 440
557, 745

5, 170
5,082
1,896
11, 699
10, 751
1, 140

8

8

8

8
8
8

14, 633
1, 513

232, 186
253, 716
368, 910
553, 972

8

8

14, 637
1, 388

14, 856
1,268

17, 167
19, 731
20, 923

8

10, 639
1, 389

8

-14.3 -9.7
-14.5 -4.6
-4.3 +23.2
-7.8 -10.5

-13.0

5,131
4,727

+4.0

7

857, 705 7 1,058, 607

+23.4

7
7

132, 082
100, 577

7

7

130, 348

7

4,935
4,764

ft Q

-30.9

-32.6
-14.5
-5.5
-0.7

-10.9
-5.3
-22.0
+9.6

7

118, 227
79, 099

-10.5
-21.4

105, 112

-19.4

1, 764, 861 1, 595, 017
1, 777, 547 1, 804, 295

-9.6
+1.5

8

8

17, 671
2, 175

+1.5
-8.6

-15.9
-41.7

99, 523
12, 623

85, 113
8,687

-14.5
-31.2

17, 398
18, 984
19, 337

16, 866
19, 134
19, 000

17, 134
18, 812
17, 301

+1.3 +1.5
-3.8 +0.9
-7.6 +11.8

88, 958
89, 917

92, 304
93, 706

+3.8
+4.2

Portland Cement
Production
Shipments
Stocks, end of month
Wholesale price:
Chicago district.
Lehigh Valley

thous. of bbls
thous. of bbls..
.thous. of bbls..

11, 452
11, 083
23, 922

14, 048
14, 350
23, 654

16, 674
16, 859
23, 482

dolls, per bbl__
dolls, per bbl__

1.60
1.55

1.60
1.55

1.60
1.55

1.60
1.55

1.60
1.55

1.65
1.75

1.65
1.75

0.0
0.0

-3.0
-11.4

9,300
5,135

15, 482
10, 264

14, 234
8,235

16, 075
8,424

12, 615
7,299

10, 750
6,948

10, 856
5,663

-21.5
-13.4

+16.2
+28.9

65, 756
39, 831

76, 333
44, 349

+16.1
+11.3

10, 119
435
9,632

6,170
265
9,821

9,101
414
10, 000

17, 850
845
10,104

17, 150
637
10, 135

22,709
1,341
10, 961

13, 520
605
11, 100

-3.9 +26.8
-24.6 +5.3
+0.3 -8.7

102, 003
4,717
76, 086

73, 890
3, 595
69, 130

-27.6
-23.8
-9.1

11,641

10, 299

9,618

7,999

8,868

12, 525

10, 748

+10.9

-17.5

77, 918

66, 699

-14.4

2,234
72.3
2,390
2,368
11, 137
6,488

2,205
74.1
2,004
2,346
10, 658
6,341

2,197
73.8
1,800
2,383
10, 135
6,149

2,277
76.5
2,016
2,350
9,682
6,065

2,050
71.7
1,743
2,227
9,148
6,216

1,988
70.0
1,862
2,288
8,116
5,276

2,016
71.0
1,935
2,117
7,232
5,138

-10.0
+1.7
-6.3 +1.0
-13.5 -9.9
-5.2 +5.2
-5.5 +26.5
+2.5 +21.0

14,001

14,937

+6.7

14, 474
14, 469

15,516
15, 344

+7.2
+6.0

3,023
39.0
39.0
41.0

3,030
39.8
39.6
38.8

2,797
37.0
45.0
39.3

2,689
36.0
38.0
37.3

2,169
33.6
36.3
35.3

3,171
41.7
47.9
45.6

1,494
25.0
36.3
34.5

-19.3
-6.7
-4.5
-5.4

20, 851

19, 276

-7.6

1.0
1.2
3.7
3.6
* Cumulative through June 30j

1.3
3.6

1.2
4.0

2.5
4.7

Highways
Concrete pavements, new contracts:
Total
thous. of sq. yds..
Roads
thous. of sq. yds..
Federal-aid highways:
Completed—Cost
..thous. of dolls..
Distance
miles..
Under construction, end of month.. miles..
Plate Glass
Production, polished

thous. of sq. ft..

Glass Containers
Actual production:
Quantity .
thous. of gross _
Relation to capacity
per cent..
New orders
._
thous. of gross..
Shipments
. thous. of gross
Unfilled orders, end of month.. thous. of gross. .
Stocks, end of month
thous. of gross..

Illuminating Glassware
Production:
Total
number of turns
Ratio to capacity
per ct. of capacity
New orders __
per ct. of capacity .
Shipments
__
per ct. of capacity. _
Unfilled orders, end
of month
number of weeks' supply
Stocks, end mo
number of weeks 'supply..




1.0
3.5

+45.2
+34.4
0.0
+2.3

1.8
-7.7 -33.3
3.8 +11.1 +5.3
8
Revised.

36

TREND OF BUSINESS MOVEMENTS—Continued
1927

The cumulatives shown are through
Julg, except where otherwise noted.
Earlier data for items shown here may
be found on pages 23 to 133 of the
August, 1927, "Survey"

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

1926

July,

March

April

May

June

July

June

July

1927,
from
June,
1927

CUMULATIVE TOTAL
FROM JANUARY 1
THROUGH JULY 31

Per ct.
increase
or decrease

July,
1927,
from
July,
1926

1926

1927

cumulative
1927
from
1926

CHEMICALS AND OILS
Chemicals
Sulphuric acid:
+7.4 -30.6
1,024
1,154
420
5, 108
746
801
6,753
730
453
Exports.-thous. of Ibs..
0.0
.75
.75
.75
0.0
.75
.75
.75
.75
Price wholesale, 66°, N. Y.dolls. per 100 Ibs..
Nitrate of soda:
649, 954
94, 151
54, 867
410, 577
97, 480
12, 225
39, 683
23, 367 +38.3 +134. 8
43, 578
Imports
--long tons..
Production in Chile —
127, 060
+9.6 -20.3 1, 425, 528
691, 793
99, 050 8 105, 900 115, 900
170,000
159, 466
Quantity
metric tons.. 8 90, 479
28
32
30
36
60
49 +12.5 -26.5
32
Units reporting
number of plants _
+466.
9
160,
676
19,
308
15,911
135, 453
8
6,
502
36,
857
+4.5
25,
287
8,292
6,013
Potash imports
long tons. .
Acid phosphate:
7 1, 804, 332 7 1, 445, 320
194, 414
213,714
232, 394
272, 250
240, 939
Production
short tons.. 8 230, 937
Stock^ end of month
short tons 1, 635, 775 1, 012, 805 1, 160, 100 1, 013, 638 1, 291, 846 1,519,137 1, 147, 998 +27.4 +12.5
7 630, 405 7 654, 752
63, 388
225, 637
54, 386
107, 738
Shipments
... short tons. _ 194, 884
Fertilizer:
666, 772
786, 599
+23.8
+55.7
111,512
109,
580
88,
622
128,
689
138,
023
90,
998
119,
927
Exports
long tons . .
Consumption in Southern
4,
641,
662
-32.0
3,
966, 542
+49.5
52,
241
1,498,707
870,
224
35,
535
55,
572
23,
763
146,
454
States
short tons. _
Dyes and dyestufl's, exports:
1,355
2,147
-54.5
-24.0
300
269
217
363
388
165
451
Vegetable
thous . of Ibs _ .
14, 484
14, 060
968
1,227
1,661
3,595
1,526
1,928
2,743 +57.6 -44.4
Coal-tar
thous. of Ibs..
Price index numbers:
_
•
-2.0
-4.9
200
207
206
206
206
196
205
Crude drugs
index number..
0.0
122
26.9
167
126
123
122
168
121
Essential oils
index number
0.0
+0.6
156
155
156
155
155
Drugs and pharmaceuticals.index number..
156
156
-0.9
-1.8
114
114
112
113
113
113
Chemicals
index number
113
-3.1 -23.6
130
134
132
170
165
126
130
Oils and fats
index number _

-24.4

-36. 8-51.5

-15. T
-19.9-

+18.0

-14. 5
+58.5
-2.9

Wood Chemicals
Acetate of lime:
Production14, 223
12, 552
13, 139
United States
thous. of lbs__
932
1,007
756
Canada
.thous. of lbs_.
Shipments14, 002
11,972
13, 560
United States
thous. of Ibs..
785
428
Canada
- -thous. of Ibs..
531
Stocks, end of month—
22, 620
22, 207
23, 068
TInit/ed States
thous of Ibs
3,454
3,057
3,398
Canada
thous. of Ibs
974
1,579
1,582
Exports
..thous. of Ibs..
3.50
3.50
3.50
Price wholesale
dolls, per cwt__
Methanol, crude:
Production666, 638 638, 376
United States
.gallons. ' 726,694
39, 016
30, 088
42, 823
Canada
gallons
Stocks at crude plants, end of month387, 684
325, 888
345, 366
United States
gallons
41, 468
29, 910
40, 335
Canada
gallons..
Stocks at refineries and in transit—
nitprl
^
f
f
t
t
p
^
gallons
819,
216
896,
334
645,
852
U
22, 574
12, 949
33, 078
Canada
gallons
41, 254
20, 584
22, 863
Exports
gallons..
.83
.83
.83
Price, wholesale, N. Y
dolls, per gal..
Wood:
Consumption64,309
69, 895
United States
- .. .cords.. 75, 755
4, 790
3,298
5,300
Canada
.cords..
Stocks, end of month—
United States
cords 8 478, 874 8 521, 052 8548,119
27, 041
31,113
33, 525
Canada
cords. _
Daily capacity3, 526
3, 535
3, 535
Total
cords
3,535
3,535
Reporting
cords
3, 526
319
8537
295
^hut down
cords
Methanol, refined:
Production420, 741 426, 304
United States
gallons. _ 569, 059
39, 910
10, 550
39, 925
Carada
gallons .
Stocks, end of month606, 975
554, 313
597, 379
United States
gallons
67, 938
73, 706
73, 726
Canada
gallons
Shipments411, 114
416, 996 469, 513
United States
gallons
35, 340
20, 432
36, 109
Canada
gallons..

8 12, 070
8424

11, 745
353

11, 241
580

10, 964
245

-2.7
-16.7

+7.1
+44.1

91, 557
5,168

90, 577
5,718

-1.1
+10. 6

8 14, 276
8666

11, 983
801

12, 499
293

14, 741
684

-16.1
+20.3

-18.7
+17.1

84, 619
4,024

86, 044
3,891

+1.7
-3.3

8 20, 924
3, 334
562
3.50

20, 745
2,655
1,355
3.50

26, 093
2, 353
2, 235
3.25

-0.9
22, 373
1, 842 -20.4
1,909 +141. 1
0.0
3.25

-7.3
+44.1
-29.0
+7.1

10, 692

8,182

-23. 5

8 626, 789
8 14, 388

592, 593
17, 283

564, 596
24, 115

553, 050
7,239

-5.5
+7.1
+20.1 +138. 7

4, 728, 947

4, 737, 146

+0.2

s 339, 632
38, 258

303, 998 1,165,016
29, 849
40, 137

888, 923
53, 300

-10.5
-22.0

8 991, 672 1,094,775
39, 025
21, 227
2,201
9,622
.66
.66

600, 780
20, 664
37,811
.55

-65.8
-44.0

279, 202 +10.4 +292. 1
33, 827 -45.6 -37.2
19, 317 +337. 2 -50.0
0.0 +17.9
.56

8 64, 86]
1,945

63, 724
2,038

62, 575
3,046

60, 837
1,062

-1.8
+4.8

+4.7
+91.9

8 580, 600
8 61, 649

590, 069
60, 392

485, 515
40, 007

502, 255
38, 263

+1.6
-2.0

+17.5
+57.8

3, 535
3,535
706

3,535
3,535
655

3,698
3,596
559

3,698
3,596
642

416, 042
None.

347, 833
22, 800

698, 919
12, 670

737, 704
None.

-16.4

-52.8

521, 609
53, 350

554, 809
59, 120

645, 123
76, 108

709, 639
58, 465

+6.4
+10.8

-21. 8
+1.1

575, 811
10, 485

411, 229
17, 827 i

271, 586

I
•
123,762 ! -54.4

503, 101
27, 704

487, 739
28,773

-3.1
+3. &

4, 320, 566
165, 880

2, 965, 926
185, 545

-31.4
+11. 9-

' 85, 883
7 78, 328

7 74, 607
7 67, 246

-13.1
-14.1

241, 010
241, 320
230, 828

232, 623
232, 600
224, 300

-3.5-3.6-2.8.

-28.6
+70.0
j

Ethyl Alcohol
13, 052
11, 584
9, 335

13, 831
13, 761
7,496

34, 168
31, 962
of Ibs. . 32, 190
35, 355
33, 132
31, 890
of Ibs..
31,415
33, 961
of Ibs. . 31,517
16, 784
18, 043
of Ibs..
7 C u mulative t hrough Ju ne£0 .

34, 120
33,783
32, 354
16, 989

Production
thous of gals
Withdrawn for denaturization_ -thous. of gals. .
Warehouse stocks, end of month. thous. of gals..

11, 491
12, 224
8,313

12, 674
11,618
8,459

17,391
18, 847
5,734

17, 225
14, 267
7,335

37, 492
37, 875
35, 568
16, 458

-9.3
34, 663
-7.8
34, 973
-6.2
34, 909
-1.1
16, 070
8 Re1"/ised.

E\ plosives
(Black powder, permissibles, and other high
explosives)
Production
Shipments
New orders
Stocks, end of month




-

-

thous.
thous.
thous.
thous.

30, 954
31, 136
30, 335
16, 794

-10.8
-11.0
-1.9
+4.5

37
TREND OF BUSINESS MOVEMENTS—Continued
1937
The cumulatives shown are through
July, except where otherwise noted.
Earlier data for items shown here may
be found on pages 23 to 133 of the
August, 1927, "Survey

March

CHEMICALS AND OILS— Continued
Naval Stores
Turpentine (gum):
Net receipts, southern ports
barrels..
10, 132
Stocks, end of month, at 3 ports.. barrels. . 24, 668
Price, southern, in barrels,
New York
dolls, per gal
.74
Hosin (gum) :
Net receipts, southern ports
barrels..
36, 322
Stocks, end of month, at 3 ports
barrels..
81, 013
Price, common to good (B),
New York
dolls, per bbl._
11.23
Rosin (wood) :
Production
barrels. . 35, 313
Stocks, end of month
barrels
53, 866
Turpentine (wood):
Production
barrels..
7,253
Stocks, end of month
._ barrels 6,953
Pine oil:
Production
gallons. _ 245, 232
Stocks, end of month.
gallons.. 345, 842

(Per ct.
increase
(+)
i or dei crease
(-)
cumu! lative
1927
from
1926

CUMULATIVE TOTAL
FROM JANUARY 1
THROUGH JULY 31

April

May

June

July

June

July

July,
1927,
from
June,
1927

July,
1927,
from
July,
1926

1926

1927

30, 989
31, 802

48, 025
47, 264

57, 730
52, 340

50, 466
58, 390

42, 503
36, 532

43, 122
44, 762

-12.6
+11.6

+17.0
+30.4

140, 553

209, 866

+49.3

495, 351

704, 507

+42.2

+2.4 +21.3
0.0 +197. 3

161, 597

244, 865

+51. 5

5,356 f -1.9 +19.8
2,998 -32.8 +121.9

32, 410

47, 857

+47.8

.67

.63

.57

.56

.87

.88

-1.8

-36.3

97, 028
107, 562

150, 397
153, 445

184, 971
165, 445

169, 439
179, 734

137, 584
112, 514

143, 415
132, 649

-8.4
+8.3

+18.1
+35.5

9.70

9.67

9.93

9.74

11.19

13. 35

-1.9

-27.0

34, 598
58, 652

36, 508
64, 763

35, 197
72, 454

36, 038
72, 486

23, 495
19, 079

29, 710
24, 382

6, 541
9,896

6,414
6,652

4,663
2,218

8

7, 035
7,473

6,974
8,746

239, 027
355, 790

243, 880
392, 864

222, 151
428, 796

231, 350
458, 923

212, 021
302, 853

215, 706
319, 588

+4.2
+7.0

+7.3
+43.3

1, 168, 315

1, 630, 400

+39. 6

25, 209
3,417

27, 638
3,089

27, 019
2,806

26, 517
3,181

23, 605
3,272

26, 218
3,054

25, 003
4,051

-11.0
+2.9

-5.6
-19.2

158, 371

168, 923

+6.7

2,891

3,183

3,020

3,003

2,637

3, 012

-12.2

+1.5

17, 771

17, 830

+0.3

thous. of lbs_.
thous. oflbs..
short tons..

6,950
48, 137
14, 747

6,050
72, 305
19, 107

8,519
74, 369
20, 418

5,892
62, 498
14, 162

3,775
66, 828
15, 215

868
58, 054
17, 364

904
74, 001
25, 391

-35.9 +317. 6
-9.7
+6.9
+7.4 -40.1

27, 492
393, 648
127, 553

46, 588
414, 302
115, 850

+69.5
+5.2
-9.2

thous. of lbs_.

16, 130

35, 149

26, 538

21, 273

16, 997

17, 676

22, 538

-20.1

-24.6

127, 721

163, 828

+28.3

thous. of lbs._

11, 169

10, 279

8,754

8,144

7,248

6,736

6,138

-11.0

+18.1

53, 967

65, 110

+20.6

thous. of lbs__
thous. oflbs..

25, 484
27, 234

23, 569
23, 267

20, 917
20, 799

20, 645
21, 171

17,214
16, 727

17, 922
17, 901

16, 445
15, 906

-16.6
-21.0

+4.7
+5.2

137, 598
135, 148

152, 922
151, 413

+11.1
+12.0

7

40, 989

7 38, 236

-6.7

Roofing
Hoofing felt:
Production, dry felt
tons
Stocks, end of month, dry felt
tons..
Prepared roofing:
Shipments.
thous. of roof squares
Fats and Oils
Total vegetable oils and copra:
Exports
Imports
Copra, imports
Copra or coconut oil:
Imports
Consumption in oleomargarine
Oleomargarine:
Production
Consumption
Animal glues:
Shipments

PER CENT INCREASE (+) OR
DECREASE (— )

1926

thous. oflbs..

6,546

6, 175

5,840

6,220

356, 927
611, 627
562, 882

94, 597
346, 902
310, 577

61, 392
198, 354
173, 435

55, 502
127, 516
101, 391

186, 354
140, 309

105, 148
122, 279

63, 655
8 73, 031

170, 684
502, 593

111,115
531, 394

.10

.09

2,597 !

1

6,226

6,073

53, 345
65, 841
88, 895

51, 157
67, 450
.40, 357

22, 512
39, 620
23, 249

-3.9 +137. 0
-48.4 +66.2
-12.3 +282. 4

1, 146, 293
2, 532, 622

1, 716, 343
2, 912, 023

+49.7
+15.0

37, 864
32, 014

22,063
16, 195

20, 973
15, 142

12, 099
8,281

-41.7
-49.4

+82.4
+95.6

746, 471

875, 172

+17.2

90, 949
507, 644

71, 241
461, 059

32, 152
378, 230

34, 460
192, 004

16, 780 -54.9 +91.6
145, 671 1 -18.0 +159. 6

703, 392

883, 657

.09

.09

.10

.15

.15

Cottonseed

Cottonseed:
Receipts at mills
short tons..
Consumption (crush)
short tons
Stocks at mills, end of month short tons
Cottonseed oil, crude:
Production
thous. of Ibs..
Stocks, end of month
thous. of Ibs. .
Cottonseed oil, refined:
Production
thous. of lbs_.
Stocks, end of month
thous of Ibs
Price, yellow, prime,
New York
dolls, per Ib
Consumption in oleomargarine
thous. of lbs._
Cottonseed cake and meal:
Production
short tons. _
Stocks, end of month.
short tons
Exports
short tons..
Flaxseed
Minneapolis and Duluth:
Receipts
thous. of bushs..
Shipments
thous. of bushs
Stocks, end of month
thous. of bushs
Imports
_ _ . ._ thous. of bushs
Linseed oil:
Shipments from Minneapolis.thous. of lbs__
Price, New York
__
dolls, perlb..
Linseed cake and meal:
Shipments from Minneapolis.thous. oflbs..
Exports.
thous. oflbs

2,487

2,173

1,974

1,909

1,559

1,581

1,373

273, 352
179, 376
23, 860

163, 768
181, 938
8,636

85, 072
149, 467
21, 527

60, 648
102, 595
18, 105

37, 019
64, 937
23, 169

31, 587
229, 855
12, 382

16, 013
142, 844
17, 354

574
398
2,023
2,097

374
330
1,860
2,360

491
338
1,381
2,376

488
214
1,444
2,925

429
606
908
1,381

666
130
1,305
2,470

10, 626
.79

10, 826
.106

10, 951
.115

12, 502
.112

9,379
.106

12, 732
64, 866

11, 178
64, 896

7,801
41, 403

6,600
51, 036

FOODSTUFFS
Wheat
Visible supply, end of month:
United States
thous. of bushs
51, 404
30,002
40, 455
Canada
thous. of bushs
109, 392
83, 121
64,600
Receipts, principal markets. ..thous. of bushs..
16, 605
14, 420
19, 258
Shipments, principal markets.thous. of bushs..
12, 164
17, 556
17, 636
Exports:
United StatesWheat only
thous. of bushs
5,084
8,960
11, 263
Including wheat flour. thous. of bushs ..
8,987
15, 836
13, 903
CanadaWheat only..
thous. of bushs
16, 395
28, 698
20, 182
Including wheat flour.thous. of bushs..
21, 026
32, 316
22, 050
Prices:
No. 1, northern, Chicago.dolls. per bush
1.37
1.34
1.48
No. 2, red winter. Chicago.dolls. per bush..
1.34
1.34
1.44

7
Cumulative through June 30.



+11.1

-33.3

-18.3

+13.5

+25.6
I

14, Oil

14, 121

+0.8

-39.0 +131.2 1, 191, 163 1, 319, 565 +10.8
-36.7 -54.5
+28.0 +33.5 ~~~158~156~ ~~~238~l71~ "+50." 6

478 -12.1
362 +183. 2
976 -37.1
1,371 -52.8

-10.3
+67.4
-7.0
+0.7

3,685
2,021

3,658
2,844

-0.7
+40.7

13, 020

14, 703

+12.9

-8.8
-10.9

77, 482

72, 245

-6.8

+10.3
+3.1

-20.9
-4.5

89, 641
358, 316

84, 762
390, 222

-5.4
+8.9

" 31,959 +53.3
30, 474 -10.2
76, 960 +184.5
29,013 +52.9

+13.0
+45.2
-23.6
-12.1

180, 621
108, 353

175, 295
113, 690

-2.9
+4.9

16, 083
19, 652

+12.6
+5.3

-47.8
-39.2

43, 942
66, 401

54, 130
83, 451

+23.2
+25.7

16, 306
20, 709

-58.3
-56.1

-59.4
-58.3

110, 602
138, 853

111,751
134, 548

+1.0
-3.1

1.53
-2.0
1.44
-1.4
8
Revised.

-3.3
-0.7

11, 870
.112

10, 282
.119

-25.0
-5.4

7,281
52, 596

6,079
41, 907

9,210
55, 084

23, 544
49, 247
20, 665
16, 675

36, 104
44, 237
58, 800
25, 489

13,273
39, 900
21, 058
15, 748

7,459
11, 342

8,397
11, 942

8,074
11,076

15, 863
19, 673

6,620
8,641

27, 792
32, 425

1.51
1.45

1.48
1.43

1.53
1.48

38

TREND OF BUSINESS MOVEMENTS—Continued

The cumulatives shown are through
July, except where otherwise noted.
Earlier data for items shown here may
be found on pages 23 to 133 of the
August, 1927, "Survey '

PER CENT INCREASE (+) OR

1926

1927

DECREASE (— )

July,
March

April

May

June

• 38, 924
6,658

from
June,
1927

July,
1927,
from
July,
1926

43, 942
5,523

-1.9

-12.7

8,005

9,570

-1.9

-12.9

9,631
1,646
668,392
48

11, 189
1,228
768, 231
57

July

June

July

8 39, 085
6,000

38, 349

37, 251
7,386

88,500

8,336
664, 446
51

1927,

CUMULATIVE TOTAL
FROM JANUARY 1
THROUGH JULY 31

1926

1927

Per ct.
increase
(+)
or decrease
(-)
cumu
lative
1927
from
1926

FOODSTUFFS— Continued
Wheat Flour
Grindings of wheat:
United States (census)
thous. of bushs..
Canada
thous of bushs
Production:
United States, actual
(census)
thous. of bbls..
United States, prorated
(Russell)
thous of bbls
Canada
thous. of bbls
Production, grain offal
thous. of lbs_.
Capacity operated flour mills
per cent
Consumption,
(computed)
thous of bbls
Stocks, all positions, end of
month (computed)
__thous. of bbls..
Exports:
United States
_
.thous. of bbls._
Canada
thous. of bbls. _
Wholesale prices:
Standard patents,
Minneapolis
dolls per bbl
Winter straights,
Kansas City
dolls per bbl

40,908
6,643

38, 184
5,281

8,953

8,309

10, 396
1,455
701, 789
50

8

8, 497

9,667
9,532
8 9, 261
1, 154
1,314
1,455
659, 198 8 672, 824 8 675, 003
49
52
49

-1.6
+4.1

-13.5
-10.5

264, 042
M0,476

271, 373
7 37, 016

+2.8
-8.5

56, 979

59, 242

+4.0

7 55, 880
7 9, 024
4, 734, 995

7 57, 528
7 8, 105
4, 673, 577

+2.9
-10.2
-1.3

7

10, 074

8,551

8,733

8,450

8,865

9,237

6,500

6,600

6,300

6,250

6,500

7,660

867
1, 029

1,016
415

1,099
804

863
847

788
449

667
1,029

793
978

-8.7
-47.0

-0.6
-54.1

4-13.0

52, 358

4,991
6,276

7 52, 247

-0.2

6,516 i +30.6
5,066 -19.3

7.33

7.25

7.83

7.91

7.81

8.68

8.98

-1.3

6.58

6.58

6.96

7.06

6.92

7.34

6.81

-2.0

+1.6

2,180
50, 079
19, 310
10, 111
6,491

1,548
39, 130
10, 451
12, 326
6,316

1,717
31, 528
12, 599
10, 142
6,528

1,124
36,239
26, 241
13, 282
7,339

734
31,900
15, 125
12,090
6,733

1,831
32, 279
24, 306
11, 124
6,314

1,358
26, 821
13, 748
10, 724
6,222

-34.7
-12.0
-42.4
-9.0
-9.6

-45.9
+18.9
+10.0
+12.7
+8.2

.73

.74

.87

1.00

1.01

.72

.80

+2.0

+27.5

10, 272
38, 155
395

9,127
30, 298
1,095

11, 888
22,350
3,459

9,701
18, 110
1,737

8,125
12, 270
111

13,400
38, 768
2,429

9,241
34, 489
1,468

-16.2
-32.2
-55.3

-12.1
-64.4
-47.1

.49
734

.48
632

.51
694

.50
659

.48

.41
652

.42
800

-4.0

+14.3

8,603

6,661

8,148

8,513

9,137

11, 224

2,254
3,002
2,121

2,210
1,619
1,151

2,167
947
1,337

2,579
1,143
1,186

1,871
891
2,360

3,104
2,835
1,352

1,466
2,299
1,386

.78

.83

.90

.92

.79

.86

.72

-14.1

+9.7

1,485
14, 048
786
1.00

1,449
6,249
4,500
1.03

3,272
2,213
5,861
1.13

1,358
947
3,601
1.15

1,444
1,376
339
1.10

1,202
10, 748
1,085
.91

802
8,659
2,195
1.04

+6.3
+45.3
-90.6
-4.3

+80.0
-84.1
-84.6
+5.8

8,303

12, 445

+49.9

8,675

16,482

+90.0

14, 469

24, 130

26, 277

18, 990

16, 152

17, 773

26, 059

-14.9

-38.0

111, 674

130, 092

+16.5

Corn
Exports, including meal
thous. of bushs__
Visible supply, end month
thous. of bushs. _
Receipts, principal markets
thous. of bushs..
Shipments, prin. markets
_thous. of bushs..
Grindings (starch, glucose)
thous. of bushs. .
Prices, contract grades, No. 2,
Chicago
dolls, per bush

17, 275

11,343

-34.3

139,392
74,012
44, 968

136, 031
77, 089
45, 357

-2.4
+4.2
+0.9

86, 479

73, 543

Oats
Receipts, principal markets
thous. of bushs..
Visible supply, end of month .thous. of bushs ..
Exports, including meal
thous. of bushs
Prices, contract grades,
Chicago
dolls, per bush
Grindins's Canada
thous of bushs
Production, oatmeal and rolled
oats, Canada
thous. of lbs.._

13, 325

-15.0

8,398 , -37.0

7 4, 799

7 4, 203

-12.4

7 62, 747

7 48, 526

-22.7

18, 736

16,095

-14.1

5,998

10, 418

+73.7

Other Grains

Barley:
Receipts, principal
markets
thous. of bush
Visible supply, end mo
thous. of bush..
Exports
thous. of bush
Price fair to good, malting,
Chicago
dolls, per bush
Rye:
Receipts, principal
markets.
thousl of bush..
Visible supply end mo
thous of bush
Exports, including flour thous. of bush..
Price, No. 2, Chicago
dolls, per bush

-27.5 +27.6
-22.0 -61.2
+99.0 +70.3

Total Grains
Total grain exports, incl. flour, .thous. of bush..
Bice
Southern paddy, receipts at mills
bbls.. 621, 153 371, 901 396, 006 429, 614
Shipments:
734, 405
569, 194
Total from mills
pockets (100 Ibs )
700, 427 643, 295
199, 258
130, 146
119, 681 119, 932
New Orleans
pockets (100 Ibs )
Stocks end of month
pockets (100 Ibs ) 1, 867, 788 1, 696, 891 1, 400, 980 1, 181, 230
442, 528
455, 159
256, 601 215,411
Exports
pockets (100 Ibs )
46,034
Imports
..
pockets (100 Ibs.)
60, 538
99,637
16, 095

105, 923

74, 634

7 2,126, 793 73,284,982

+54.5

278, 871
34, 528
767, 627
40, 464
88,159

-19.9

73,314,995 7 4,645, 371
873, 721 1, 091, 486
+178. 2

+40.1
+24.9

74, 519
26,248

351, 292
129, 725
975, 043
37, 618
111, 455

-65.4
+62.1

+84.2
-70.2

321, 625
963, 828

2,321,998
375, 932

-61.0

none
1,731
20, 709
1,864
5,781
48, 005

112
1,204
23, 370
1,237
6,248
60, 457

61
3,665 +44.0
-4.9
19, 914
1,569 +124.6
5,982 -23.5
57, 014 1 -10.2
SRevised.

-52.8
+4.0
+18.8
-3.3
-15.8

30,123
123, 437
15, 379
62,035
481, 148

30, 014
134, 125
14, 670
72, 420
403, 716

96, 074

Other Crops
Apples:
Cold-storage holdings,
1,598
end of month
thous of bbls
535
3,14L
5,276
3,630
2,465
Car-load-shipments
carloads. .
21, 005
19, 497
Potatoes, car-lot shipments
carloads
16, 407
1,738
2,968
2,455
Onions, car-lot shipments
_ . carloads. _
12, 946
12,911
10, 643
Citrus fruits car-lot shipments
carloads
52, 716
50, 563
Hay, receipts
tons.. 63, 971
*Cu mulative t hrough June30i




none
1,202
21, 785
830
7,559
53, 435

-0.4
+8.7
-4.6
+16.7
-16.1

39

TREND OF BUSINESS MOVEMENTS—Continued

The cumulatives shown are through
July, except where otherwise noted.
Earlier data for items shown here may
be found on pages 23 to 133 of the
August, 1927, "Survey"

PER CENT INCREASE (+) OR

1936

1937

DECREASE (— )

March

April

May

June

July

June

July

CUMULATIVE TOTAL
FROM JANUARY 1
THROUGH JULY 31

Per ct.
increase
(+)
or decrease
(-)
cumulative
1927
from
1926

July,
1927,
from
June,
1927

July,
1927,
from
July,
1926

1926

1927

-10.7
-10.6
-18.8
-12.2

-15.0
-15.3
-30.3
-16.4

12,498
4,367
1,373
8,070

12,039
4,317
1,327
7,637

-3.7
-1.1
-3.4
-5.4

-7.1 -6.8
-6.6 -13.8
+39.7 -23.2

3, 154, 953
3, 236, 118
14, 225

3, 019, 170
3, 085, 871
12,497

-4.3
-4.6
-12.1

23, 424
8,819
422
14, 603

24, 890
8,896
550
15, 976

+6.3
+0.9
+30.3
+9.4

FOODSTUFFS-Continued
Cattle and Calves
Cattle movements, primary markets:
Eeceipts
thousands
1,743
607
Shipments, total
. thousands
200
Shipments, stocker and feeder, .thousands..
1,134
Local slaughter
. _ thousands
Beef products:
Inspected slaughter product-.thous. of lbs._ 436, 570
Apparent consumption
thous of Ibs
446, 970
2,025
Exports
thous. of Ibs..
Cold-storage holdings,
77, 159
end of month
thous of Ibs
Prices, Chicago:
11.92
Cattle, corn-fed
dolls per 100 Ibs
.170
Beef, fresh native steers
dolls, per Ib
.158
Beef, steer rounds, No. 2
dolls, per lb._

1,674
602
204
1,066

8 1, 956
732
235
1,201

1,732
624
170
1,112

1,547
558
138
976

1,871
658
169
1,217

1,820
659
198
1,168

421, 666
436, 183
2,037

449, 382
463, 240
1,418

449, 020
456, 534
1,374

417, 119
426,464
1,920

495, 925
499, 041
2,292

447, 515
495, 021
2,501

62, 928

50,413

43, 756

35,692

48, 688

46,048

12.28
.170
1.76

11.44
.170
.184

11.83
.170
.185

12.30
.182
.193

9.59
.160
.162

9.42
.162
.170

3,754
1,368
102
2,386

3,142
1,101
84
2,050

8 3, 613
8 1, 216
72
82,379

83,775
8 1, 259

2, 522

3,046
1,110
38
1,939

3,143
1,048
72
2,087

2,854
989
49
1,873

-19.3 +6.7
+12.2
-11.8
-37.7 -22.4
-23.1 +3.5

695, 176
539, 757
76. 508

603, 019
473, 253
91, 842

681, 902
560, 558
91, 878

778, 271
589, 134
97, 803

652, 896
548, 243
76, 277

646, 770
521, 083
85, 094

616, 289
470, 705
72, 557

-16.1 +5.9
-6.9 +16.5
-22.0 +5.1

-18.4

+4.0
+7.1
+4.3

-22.5

+30.6
+12.3
+13.5

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
.thoujs. of Ibs...
Exports
_
thous. of lbs_.
Cold-storage holdings, total,
end of month
thous. of lbs._
Fresh and cured in storage,
end of month
thous. of lbs_.
Lard (included in pork products) :
Production
thous. oflbs..
Exports
thous. of lbs__
Cold-storage holdings,
end of month
thous. of Ibs. _
Prices:
Hogs heavy, Chicago dolls, per 100 Ibs
Hams, smoked, Chicago
dolls, perlb..
Lard, prime contract, N. Y. .dolls, perlb..

8

861

830, 515

869, 823

899, 826

991, 593 1, 020, 172

772,703

796, 245

+2.9

+28.1

738, 446

770, 212

787, 850

844, 275

841, 143

602, 176

642, 673

-0.4

+30.9

129, 334
53, 040

125, 723
67, 345

131,685
64, 418

151, 008
66,404

130, 992
46, 972

122, 885
56, 482

133, 702
45, 879

—13.3
-29.3

-2.0
+2.4

92, 069

99, 611

111, 976

147, 318

179, 029

120, 527

153, 572

+21.5

+16.6

11.01
.270
.130

10.51
.268
.128

9.45
.259
.129

8.69
.246
.131

8.98
.243
.132

13.96
.340
.170

12.98
.351
.165

+3.3
-1.2
+0.8

-30.8
-30.8
-20.0

1,558
719
140
843

1,486
690
118
800

8 2, 013
8 1, 064
259
8951

8 1, 816
8849
8257
8
963

1,676
764
216
915

1,913
916
238
998

1,739
828
260
912

-7.7
-10.0
-16.0
-5.0

—3. 6
-7.7
-16.9
+0.3

41, 544
42, 737

37, 545
38, 641

37, 731
38, 452

39, 123
38, 872

37, 647
37, 706

39, 818
39, 676

37, 935
37, 786

-3.8
-3.0

-0.8
-0.2

2,940

1,862

1,210

8 1, 360

1,161

1,871

1,813

-14.6

-36.0

8.00
15.06

7.78
15.81

5.90
14.85

5.16
13.25

5.31
14.22

5.31
16.13

5.88
14.26

+2.9
+7.3

-9.7
-0.3

60, 951

58, 521

60, 978

8 63, 768

66, 463

52, 985

57, 053

+4.2

+16.5

Production, inspected slaughter..thous. of lbs_. 1, 173, 290 1, 062, 230 1, 169, 015 1,266,415 1, 107, 662 1, 182, 513 1, 101, 739
Cold-storage holdings, end mo_ --thous. of lbs_. 879, 496 893, 523 8 900, 451 8 953, 159 944, 459
705, 720 747, 587
Apparent consumption
thous. of Ibs. .1, 029, 463 948, 077 1,062,250 1, 084, 540 1, 012, 412 1, 059, 800 1, 003, 518

-12.5
-0.1
-6.7

4, 461, 389 4,803,477 ! +7.7
3,486,238 3, 721, 398
+6.7
696, 908
593, 592 -14.

938, 024
407, 605

+1.1
-5.1

11, 600
5, 284
1,097
6,316

11, 785
5,574
1,333
6,222

+1.6
+5.5
+21.5
-1.5

286, 040
286, 289

278, 261
281, 643

-2.7
-1.6

+0.5
+26.3
+0.9

7, 902, 382

8, 100, 908

+2.5

7, 008, 649

7, 088, 809

+1.1

136, 380

136, 304

-0.1

150,403

166, 220

+10.5

7 1, 674, 962 72, 193, 099
501, 349
400,359

+30.9
+25. 2

1, 063, 209
376, 317

+15.6
+1.9

927, 999
429, 960

I

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. oflbs..
Apparent consumption
thous. oflbs..
Cold-storage holdings,
end of month
thous. oflbs..
Prices:
Sheep, ewes, Chicago
dolls, per 100 Ibs
Sheep, lambs, Chicago.. -dolls, per 100 Ibs.,
Miscellaneous Meats
Cold-storage holdings, end mo.. -thous. of lbs__
Total Meats

Poultry
Receipts at five markets
Cold-storage holdings
end of month.-

thous. of Ibs. _

15, 777

13, 956

20, 157

21,479

18, 282

21,311

20, 974

-14.9

-12.8

thous. oflbs..

104, 697

77, 282

61, 525

8 50, 064-

42, 302

36, 730

35,793

-15.5

+18.2

Total catch, prin. fishing ports., .thous. oflbs..
Cold-storage holdings, 15th of mo.thous. of Ibs..
Canned salmon:
Shipments, United States
cases..
Exports, Canada
cases..

28, 610
34, 887

20, 556
24, 731

25, 171
29, 782

27, 072
8 36, 696

27, 322
42, 045

27, 929
31,345

29, 564
45, 606

+0.9
+14.6

-7.6
-7.8

368, 071
126, 594

206, 647
53, 450

288, 120
64, 590

357, 014
35, 913

48, 190

368, 619
19, 208

581, 072
22, 708

+34.2 +112. 2

109, 259
45, 210

120, 770
48, 279

227, 614
63, 710

184, 035
75, 756

234, 043
67, 282

178, 276
75, 931

159, 554
68, 393

+27.2
-11.9

+46.7
-1.6

919, 338
369, 297

3,044
thous. oflbs.
3,436
25, 404
thous. oflbs.. 154, 276 165, 822 149, 660
dolls, per lb_.
.51
.50
.43
?
Cumulative through June 30.

8 89, 996
196, 213
.43

145, 146
178, 952
.42

86, 897
200, 465
.41

131, 152 +61.3
185, 843
-8.8
.40
-2.3
8
Revised.

+10.7
-3.7
+5.0

1, 226, 450

Fish

Butter
Production (factory)
Receipts, 5 markets
Cold-storage holdings, creamery,
end of month _
Apparent consumption _
Wholesale price, New York*




thous. of lbs__
thous. of lbs_

1,126,826 i

-8.2

40

TREND OF BUSINESS MOVEMENTS—Continued

The cumulatives shown are through
July, except where otherwise noted.
Earlier data for items shown here may
be found on pages 23 to 133 of the
August, 1927, "Survey"

March

PER CENT INCREASE (+) OR
DECREASE ( — )

1926

1927

July

June

July

July,
1927,
from
June,
1927

59, 259
22, 134
50, 720
8 67, 216
7,656
241
7,060

50, 265
24, 134
35, 849
97,904
6,503
231
8,977

64, 642
21, 777
46, 813
68, 771
5,908
261
6,667

55, 078
21, 972
36, 060
90, 053
5,087
309
20, 681

-15.2 -8.7
+9.0 +9.8
-29.3 -0.6
+45.7 +8.7
-15.1 +27.8
-4.1 -25.2
+27.2 -56.6

35, 826
.24

8 49, 999
.24

67, 089
.24

54,069
.21

73,681
.22

+34.2
0.0

-8.9
+9.1

2,729
5,501

2,523
8,962

1,767
8 10, 565

1,225
10, 737

2,115
9,133

1,385
9,845

-30.7
+1.6

-11.6
+9.1

52, 053

71, 605

8 81, 263

81, 418

45, 688

51, 810

+0.2

+57.1

14, 608
9,721

26, 709
8 15, 392

41, 028
20,223

44, 028
19, 666

36. 734
21, 392

37, 285
23, 310

+7.3 +18.1
-2.8 -15.6

8,317
3,689
2,761
5.84

21, 706
8 5, 220
3,642
5.93

37, 205
7,553
3,190
5.90

38, 140
7,679
2,716
5.83

30, 943
10, 083
3,472
5.86

31, 931
9,138
3,537
5.87

58, 455 8 106, 636

168, 599

213, 004

169, 533

8,531
7,054
4.58

8 48, 947
7, 305
4.63

126, 534
8,926
4.60

176, 723
6, 326
4.58

126, 383
7,353
4.33

177, 450

241, 297

279, 772

219, 255

233, 143

187, 558

-21.6

6, 683
336

8 9, 136
387

11.838
251

12. 884
178

14, 599
209

April

May

29, 241
14, 872
42, 985
47, 840
7,824
346
3,191

29, 401
16,923
38, 212
45, 616
6,923
327
1,117

40, 918
21, 301
42, 420
50, 864
7,072
297
2,619

35, 193
.25

'32,487
.24

1,997
1,868
33, 272

June

Per ct.

CUMULATIVE TOTAL | inFROM JANUARY 1 ! crease
THROUGH JULY 31

July,
1927,
from
July,
1926

<+>
or decrease
(-)
cumulative
1927
from
1926

1926

1927

318,669
117,731
296, 995

258, 369
126, 986
282, 947

-18.9
+7.9
-4.7

33, 592
2,376
39, 727

46, 374
2,168
29, 577

+38.1
-8.8
+25. 5

11, 555

12, 387

+7.2

24, 659

20, 830

-15.5

47, 721

45, 728 !

FOODSTUFFS— Continued
Cheese
Total, all varieties:
Production (factory)
thous of Ibs
Receipts, 5 markets
thous. of Ibs
Apparent consumption
thous. of Ibs..
Cold-storage holdings
.thous. of Ibs. .
Imports
_
.
_thous. of Ibs
Exports, United States
thous. of lbs._
Exports, Canada
thous. of Ibs
.American whole milk:
Cold-storage holdings,
end of month- _
thous. of Ibs .
Wholesale price, New York*_dolls. per lb__
Eggs
Receipts, 5 markets.
thous. of cases..
^Cold-storage holdings
thous. of cases. _
Frozen, cold-storagef holdings,
end of month
thous. of Ibs. _
Milk

Condensed milk:
Manufacturers' total stocks (end of
month) —
Case goods..
. _.
thous. of Ibs. . 10, 935
Bulk goods
thous. oflbs..
7,812
Manufacturers' unsold stocks (end of
month)—
Case goods
. thous. of Ibs
5, 378
Bulkgoods.-. .thous. of Ibs. . 3,881
Exports
thous. of lbs._
2,974
Wholesale price, New York. dolls, per case..
5.75
Evaporated milk:
Manufacturers' total stocks (end of
month), case goods
thous. of lbs._
47, 476
Manufacturers' unsold stocks,
case goods
thous. of Ibs. _
9,346
Exports
thous. of Ibs
6,232
Wholesale price, New York. dolls, per case. _
4.50
Production, condensed and
evaporated milk
thous of Ibs
170, 881
Powdered milk:
Manufacturers' total stocks. _thous. of lbs._
6,601
Exports
thous. of Ibs
171
Fluid milk:
ReceiptsBoston (includ. cream) ...thous. of qts__
18, 140
Greater New York
thous. of qts
113, 200
ProductionMinneapolis, St. Paul
thous. of lbs._
27, 794
Consumption in manufacture
7,042
of oleomargarine
thous. of Ibs

Tea
Imports
Stocks, United Kingdom,
end of month




+19.4
-16.0
-23.2
-0.7

181, 287

+26.3

+17.5

138, 475
5,623
4.33

+39.7 +27.6
-29.1 +12.5
-0.4 +5.8

17, 976
108, 761

17, 725
114, 529

19, 633
116,448

19, 279
111,047

19, 868
114, 035

26, 458

30, 818

8 30, 835

29, 191

25, 229

6,518

5,913

5,689

4,817

5,250

4,690

93, 160
323, 434
459, 108
308, 961

151, 174
385, 027
491, 389
541, 467

83, 537
284, 411
465, 144
425, 902

Sugar
Raw:
Imports—
From Hawaii and Porto
144, 715
140, 717
Rico
longtons.. 157, 549 153, 556
From foreign countries
long tons.. 400, 544 417, 332 348, 546 285, 968
Meltings, 8 ports
long tons_. 553, 004 482. 656 8 472, 528 8 503, 703
Stocks at refineries end mo
long tons
321, 629 369, 210 370, 898 8 361, 915
Receipts, domestic, at New
50
Orleans
long tons..
46
42
30
Hefined:
Exports, including maple
long tons..
10, 524
18, 295
8,345
15, 822
Prices:
Wholesale, 96° centrifugal,
.048
N. Y
dolls, per Ib
.048
.046
.048
.060
Wholesale, granulated, N. Y dolls, per Ib
.058
.058
.060
.063
.067
Retail, granulated, N. Y
dolls, perlb..
.063
.065
133
135
Retail average, 51 cities
index number..
133
133
Cuban movement:
Receipts at Cuban ports _ _ _ -long tons . 1, 048, 038 595, 154 227, 001 185, 360
Exports
long tons.. 512, 824 441, 653 336, 320 359, 738
Stocks, end of month
long tons 1, 310, 347 1, 449, 624 1, 357, 045 1,156,430
Coffee
Imports
Visible supply:
World
United States
Receipts, total, Brazil
Clearances:
Total, Brazil, for world
Total, Brazil, for U. S

13, 232
241 j

+2.5
+1.7
-14.9
-1.2

+16.9

1, 177, 573

i

-15.3

+2.7

-30.2 +17.5
+13.1 +13.7
-8.9 -1.3
-14.6 -27.5

7
7

+11.6

7

1,908

+24.6

102, 319
626, 552

7
7

105, 998
658, 113

+3.6
+5.0

169, 842

7

165, 996

-2.3

42, 528

+6.7

39, 874

944, 021
912, 684 \ -3.3
2, 615, 195 2, 306, 348 -11.8
3, 183, 564 3, 124, 453
-1.9

25

378

854

-40.5

-97.1

32, 354

12, 956

8,793

11, 692

+55.3

+10.8

70, 690

.045
.059
.067
135

.041
.054
.061
126

.042
.056
.061
126

-2.2
-1.7
+3.1
+1.5

254, 748
163, 014
157, 420
357, 859 300,955
343, 161
998, 209 1, 327, 592 1, 195, 658

1, 314, 545

1,531

-4.0 +15.3

-4.2

1,720 i -94.7
78, 243

+7.1
+5.4 !
+9.8
+7.1

-15.1 -3.4
-4.6 +14.0
-13.7 -16.5

3, 831, 141
2, 764, 110

+10.7

i

...

3, 536, 993
2, 556, 806 i

-7.7
—7.5

thous. of lbs._

106, 988

126, 999

92, 940

110, 616

104, 466

104, 720

116, 702

-5.6

-10.5

848, 191

787, 305

-7.2

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

4.318
765
1,007

4,261
806
899

4,322
743
982

4,393
788
1,137

4,537
634
1,136

4,491
647
901

4,560
691
1,072

+3.3
-19.5
-0.1

-0.5
-8.2
+6.0

6,634

7,294

+9.9

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

1,209
672

929
511

932
509

1,169
655

1,232
666

889
511

1,217
653

+5.4
+1.7

+1.2
+2.0

7,548
3.902

7,613
4,126

+0.9
+5.7

thous. of Ibs

5,369

5,251

4,732

5,343

6,101

4,907

9,025

+14.2

-32.4

42, 374

41, 257

194. 362 179. 315
158. 012
Cumulative through June 30.

145. 417

713. 417

8 154. 751

-5.5
8
Revised.

-6.7

thous. of Ibs
7

8

147. 209

-2.6
!!

41
TREND OF BUSINESS MOVEMENTS—Continued
1927

The cumulatives shown are through
July, except where otherwise notedEarlier data for items shown here may
be found on pages 23 to 133 of the
August, 1927, "Survey"

July,

March

April

May

June

July

June

CUMULATIVE TOTAL
FROM JANUARY 1
THROUGH JULY 31

PER CENT INCREASE (+) OR
DECREASE (— )

1926

1927,
from
June,
1927

July

July,
1927,
from
July,
1926

1926

1927

Per ct.
increase
(+)
or decrease
(-)
cumulative
1927
from
1926

TOBACCO
Consumption (tax-paid withdrawals) :
576, 562 568, 553
Large cigars
thousands
528, 698 475, 980 540, 874 576, 528 561, 199
Small cigarettes
thousands . 8, 026, 096 7,880,403 8,538,988 8, 736, 464 8, 277, 052 8, 486, 335 7, 961, 032
Manufactured tobacco
33, 420
35, 347
31, 561
35, 059
and snuff
..
thous. oflbs
36, 327
31, 570
33, 648
Exports:
33,053
35, 041
40, 366
41, 669
28, 229
30, 762
Unmanufactured leaf
thous. of Ibs..
29, 760
Cigarettes
thousands. _ 747, 967 468, 852 893, 152 809, 523 479, 166 1, 061, 448 726, 669
8,076
2,180
236
72
61, 319
7,660
582
Sales of loose-leaf, warehouses
thous. of lbs_.
Price, wholesale, Burley good leaf,
16.88
21.00
21.00
18.00
dark red, Louisville
._ dolls, per 100 Ibs
17.00
21.00
21.00

-2.7
-5.3

-1.3 3, 610, 623 3, 591, 053
+4.0 51, 495, 115 55, 337, 525

-10.0

-6.2

-14.6
-40.8
-69.5

-5.1
-34.1
-87.6

+0.7

-19.0

+9.9
+1.7
+21.3
-7.6
-23.4

+12.1
+15.1
-7.3
-14.3
-7.6

-24.1
-25.9
+1.3

-4.4
-7.3
+7.3

244, 139

-0.5
+7.5

231, 836

-5.0

261, 546
291, 535
5, 872, 286 4, 770, 907
247, 380
326,382

+11.5
-18.8
+29.5

TRANSPORTATION
River and Canal Cargo Traffic

1

Panama Canal:
2,229
2,534
2,380
Total cargo traffic
- thous of long tons
2,430
2,450
2,135
2,186
1,318
1,341
In American vessels ___thous. of long tons__
1,410
1,308
1,350
1,190
1,165
491
432
641
550
524
In British vessel
thous of long tons
562
565
12,614
4,698
None.
11,660
12, 910
Sault Ste. Marie Canals __thous. of short tons..
12,573
13,608
169
381
285
292
New York State Canals... thous. of short tons.. None.
399
316
54, 155
84,062
52, 081
60,482
75, 247
Cape Cod Canal
short tons
65, 027
2,724
2,298
2,786
2,410
Suez Canal
_ thous. of metric tons
1,939
2,033
321, 670 1,040,748 991, 787 752, 831
Welland Canal
_
short tons
None.
949, 973 8 787,478
None. 241, 070 1, 8094, 346 1,211,603 898, 273 1,060,598 968, 977
St. Lawrence Canal
short tons
94,092
Mississippi River, Govt. barges
short tons.. 104, 301 121,673
99, 608
95,300
90,495
88,846
Ohio River, Pittsburgh, Pa., to
765, 632
Wheeling, W Va
short tons
744,400 696, 722 817,446 951,562 1,045,889 1, 159, 138
184, 015
195, 792 260,612 316, 859
108,433
345, 741 273, 641
Allegheny River
short tons
Monongahela River
short tons 2, 529. 828 1, 829, 631 1,806,081 1,851,453 1,990,824 2,067,772 2, 334, 195

16,069
8,528
3,891
38,675

16,495
9,092
3, 655
41, 545

+2.7
+6.6
-6.1
+7.4

7 353, 737
7 12, 935
2, 390, 476
2, 774, 085
530, 287

7 343, 103
7 14, 732
3, 107, 036
3,445,292
690,066

-3.0
+13.9
+30. 0
+24.2
+30.1

-17.9 4, 819, 445 5,221,955
+15.8 1, 209, 172 1,240,558
-14.7 13,251,450 14,061,254

+8.4
+2.6
+6.1

-16.0
-18,1
-14.8

40,965
15, 074
25, 890

+1.0
+5.1
-1.4

-55.1 +79.8
-60.3 +128. 2

125, 302
81,067

+16.4
+21.6
+7.5

Ocean Traffic
Clearances, vessels in foreign trade:
Total
thous. of net tons__
\merican
thous of net tons
Foreign
thous. of net tons__

5, 147
1,882
3,265

6,160
2,618
3,542

6,248
2,632
3,616

6,835
2,575
4,260

7,073
2,580
4,493

7,086
2,640
4,445

8,424
3,149
5, 275

41,869
26, 847

42, 752
33,631

40,030
31,661

56, 075
48, 174

25,184
19, 141

22, 819
13, 724

14,009
8,389

288

235

235

219

99

254

+3.5
+0.2
+5.5

41, 361
15, 839
25, 522

Shipbuilding
Completed during month:
Total
gross tons
Steel seagoing
gross tons
Building or under contract, end of months:
Merchant vessels
thous of gross tons

1,398

231,680 +84. &
176, 194 +117. S
1,600

+14.4

-5.9 30,281,731 30,262,123
-17.9 1,344,894 1,292,237
-4.6
878, 137
862,948
-17.9 5, 827, 799 5, 890, 641
-4.2 2,232,055 2,072,824
—12.9 1,069,129 1,056,470
-1.8 7, 912, 738 7, 906, 142
-0.1 11,016,979 11, 180, 861

-0.1s
-3.9
-1.7
+1.1
-7.1
-1.2
-0.1
+1.5

Freight Cars
Surplus (daily av. last week of month) :
Total
_
..
er.rs
248,477 259, 736
256,448 274,223 273, 275
254,807
199,073
Box..
_ _ _ _ _
_ _ cars
131,844
127,432
133,345 147, 831 154,437
140, 421 104, 796
Coal
__ ..
_cars
68,417
90,075
76, 554
78, 148
81,330
69,869
56,785
Shortage (daily av. last week of month) :
Total
_ _
cars__
538
19
10
None.
None.
68
404
Box.___
_ _ cars
None.
8
None.
None.
None.
None.
172
Coal.. . _
cars
1
466
None.
None.
None.
48
114
Car loadings:
Total
__
._ _ cars 4,016,395 4,890,749 4,096,742 3, 974, 160 4,935,397 4,112,150 5,245,267
Grain and grain products ...
cars__ 160,217
188, 152
158,527 156,472
229,524
160,917 279, 527
Livestock
_
_
cars
109,265 137, 048 115, 378 108,383 128,226
107,501 134,363
Coal a n d coke _ _ _ _ _
cars
896, 527 852, 223 689, 903 653, 119 770, 272
734,393 938, 537
Forest products _
cars
281, 834 344,373 283, 695 270, 554
320, 847
295,942 334,843
42, 923
Ore - _cars
111,719 238, 279 255, 562 317, 924
271,446 364,950
Merchandise and 1. c. 1
_
_ cars 1,070,952 1,335,487 1,049,900 1,001,882 1, 250, 761 1,026,471 1,273,732
Miscellaneous
_
cars 1,454,677 1, 921, 747 1,561,060 1, 528, 188 1, 917, 843 1,515,480 1,919,315

-0.3
+4.5
-5.9

+24.2
+46.7
+18.3
+17.9
+18.6
+24.4
+24.8
+25.5

+37.3
+47.4
+34.8

Railroad Operations
Operating revenue:
Freight
__ __
Passenger _ _ __
Total operating
Operating expenses
_
Net operating income - .
Freight carried

_
_

thous. of dolls
thous. of dolls
__thous. of dolls
_
thous. of dolls
_
thous. of dolls
mills, ton-miles

406,399
76, 630
531,056
395, 423
94, 948
41,816

371,390
77, 332
498,428
384, 668
73,627
37, 102

390, 680
78, 532
518, 569
390, 787
85, 664
40,113

8

381,975
85, 956
517, 029
388,025
87, 364
38, 483

8
8
8

397,841
8
92, 469
541, 447
391, 419
107, 394
8
39, 252

408,645
97, 787
556, 515
395, 294
116,895
41, 705

63, 202
2,603
8,718
13.9
171
237

7

2, 244, 473 72,262,141
7504,999 7478,643
2, 307, 865
7 473, 227
233, 987

+0.8
-5.2
-0.4
+0.2
-4.4
+3. 0

1,195
1,892
456

-41.8

7
3, 033, 706 773,021,080
7

2,303,416
7 495, 246
227,135

Railway Equipment
Locomotives (Am. Ry. Assn.):
Owned, end of month _
number
62, 275
62, 238
62, 172
Tractive power. _
mills, of Ibs..
2,614
2,613
2,616
In bad order, end mo _
number
9,334
8,915
9,030
Per cent of total in use
__per cent
15.1
14.5
14.7
Installed during month..
number. _
142
187
148
Retired during month,
number
201
223
213
Ordered from manufacturers
number _ _
70
27
184
Unfilled orders (railroads)—
From manufacturers
.number. _
210
187
251
In railroad shops
number..
34
30 ,
40
7 Cumulative through June 30.




8

i
61, 931
2,611
8,759
14.3
258
500
38

61, 754
2,609
8,535
14.0
155
331
26

63, 266
2,601
9,228
14.7
184
270
191

200
37

173
36

562
84

14

-0.3
-2.3
-0.1 +0.2
-2.6
-2.1
-2.1 +0.7
-39.9
-9.4
-33.8 +39.7
-31.6 +85.7

394 -13.5
123
-2.7
8
Revised.

-56.1
-70.7

1,288
1,697
783 .

42
TREND OF BUSINESS MOVEMENTS—Continued

The cumulatives shown are through
July, except where otherwise noted.
Earlier data for items shown here may
be found on pages 23 to 133 of the
August, 1927, "Survey"

PER CENT INCREASE (+) OR
DECREASE (— )

1936

1937

July,
March

April

May

June

July

June

July

1927,

from
June,
1927

July,
1927,
from
July,
1926

CUMULATIVE TOTAL
FROM JANUARY 1
THROUGH JULY 31

Per ct.
increase
or decrease

1936

1937

cumulative
1927
from
1926

TRANSPORTATION— Continued
Railway Equipment— Continued
Locomotives— Continued.
Shipments (Census) —
132 -33.7
89
Total
number..
159
137
98
109
59
Domestic82 -44.4
Steam
number .
63
133
84
72
77
35
11
18
11
20
Electric
number
5.6
15
23
17
Unfilled orders, end of month555
Total
number
393
667
0.0
385
427
327
393
DomesticSteam
number
333
522
445 -10.2
301
255
380
299
24
36 +112. 5
Electric
number
48
27
53
35
51
22
Exports, steam
_ . . number
20 -27.3
15
47
16
15
10
Freight cars (Am. Ry. Assn.):
Owned end of month
cars 2, 332, 756 2, 332, 184 2, 333, 098 82,332,728 2,330,025 2,346,908 2, 348, 508
-0.1
Capacity
mills of Ibs
211,495 211, 649 211,875 8 212, 001 211,916
211,316 211, 642
0.0
+2.9
In bad order, end mo
cars.. 130, 470 135, 458 147,449 141,433 145, 590
165, 588
165, 756
6.2
7.2
7.2
Per cent of total in use
per cent
+1.6
5.7
6.5
6.3
5.9
7,566
Ordered from manufacturers
cars .
1,256 -80.7
3,362
4,270
5,253
4,378
1,459
Shipments by manufacturers —
Total
cars .
6,202
5,935
9,287
-6.6
5,544
10,009
4,449
5,570
5,584
Domestic
cars
6,182
9,185
-1.0
4,445
5,562
10,003
5,528
Unfilled orders (railroads)—
34,
874
21,
956
27,995
+10.3
Total
cars
24,221
23, 666
26, 717
26, 305
14, 678
21, 762 +24.7
From manufacturers
cars
27, 222
17, 395
15, 122
18,217
18, 303
7,278
7,652
In railroad shops
cars
9,322
6,233 -18.7
8,544
8,088
5,918
Passenger cars:
212
124
Ordered from manufacturers
cars. .
52
61
68 -13.1
69
6
Shipments by manufacturers147
224
222 -19.0
52
Total
cars
86
88
119
222 -19.0
52
147
Domestic
cars _
218
71
88
119

-55.3

1,033

629

-39.1

-57.3
-15.0

780
101

416
102

-46.7
+1.0

-32.8
+41.7
-20.0

175

160

-0.8
+0.1
-12.2
-12.5
+16.2

42, 107

43, 399

+3.1

-40.3
-39.8

55,737
54, 573

33,932
33, 470

-39.1
-38.7

-29.2

-8.6

-13.5
-15.9
-5.1

+1.5
-46.4
-46.4

928

960

+3.4

1,335
1,285

608
574

-54.5
-55.3

1, 007, 629
162, 776

1, 173, 239
224, 865

+16.4
+38.1

7 160, 340
7 149, 451

7 159, 220
7 155, 791

-0.7
+4.2

7 30, 400
7 183, 250
132, 589

7 25, 587
7 185, 299
138, 641

-15.8
+1.1
+4.6

Passenger Travel
National parks:
Visitors
_ .
.number..
Automobiles entered
number
Arrivals from abroad:
Immigrants
. . ... . .number. _
United States citizens
number
Departures abroad:
Emigrants
number..
United States citizens.
number .
Passports issued
number..
Pullman company operations:
Revenue
thous. of dolls..
Passengrs carried
thousands

59, 597
6,887

56, 543
8,508

140, 716
28, 477

263, 268
54,821

29, 868
32, 752

33,034
29, 055

31,819
26, 238

24, 000
25, 736

4,244
27, 041
17, 556

4,185
26, 815
27, 144

6,148
28, 849
32, 863

3,133
51, 379
27, 813

6,458
2,738

6,329
2,775

6,418
2,780

542, 544
113, 626

235, 698
44,361

455, 204 +106. 1
86,779 +107. 3

+19.2
+30.9

24, 790
24, 432

22,283
25, 981

7,575
47, 715
25, 916

7,052
60, 223
14, 007

7,129
3,096

7,604
3,282

7,376
3,336

7 39, 926
7 17, 226

7 39, GOO
7 16, 960

-0.8
-1.5

65, 748
16, 130

65,970
16,372

60, 302
14, 404

60,119
13, 261

7 353, 801
7 84, 777

7 388, 334
7 97, 890

+9.8
+15.5

10, 697
13, 321
1,864

10, 850
13, 416
1,928

11, 085
13, 644
1,945

10, 822
13, 386
1,662

7 63, 807
7 78, 477
7 9, 983

7 62, 750
7 77, 808
7 10, 719

-1.7
-0.9
+7.4

106, 076
35,204

103, 481
34, 088

97, 781
32, 499

94, 967
27, 872

' 606, 073
7 204, 995

7 644, 110
7 218, 495

+6.3
+6.6

802, 172

768, 968

783, 702

764, 509

6,539
2,642
3,897

6,446
2,526
3,920

5,920
2,258
3,662

5,955
2,023
3,932

363
6,176
140, 300

347
6,099
141, 300

369
5,551
129,700

355
5,600
127, 200

14, 831

-46.7

+5.9

PUBLIC UTILITIES
Telephone companies:
Operating revenues
thous. of dolls.. 65, 679
65, 163
Operating income
thous. of dolls
16, 892
16, 650
Telegraph companies:
Commercial telegraph tolls. thous. of dolls.. 10, 944
10, 636
Operating revenue .
thous. of dolls . 13, 489
13, 152
Operating income
thous of dolls
2,297
1,956
Gas and electric companies:
Gross earnings
thous. of dolls.. 108, 630 8 106, 860
Net earnings
• thous. of dolls
36, 691 8 36, 227
Electric railways (212 companies) :
Passengers carried
thous. of persons
833, 316 800, 722
Electric power production:
Total
mills, of kw. hours .
6,717
6,416
By water power
mills, of kw. hours..
2,587
2,566
By fuels . . .
. mills, of kw. hours..
4,130
3,850
In street railways,
manfg. plants, etc.. .mills, of kw. hours..
402
366
In central stations
mills of kw. hours..
6,315
6,050
Gross revenue sales
thous. of dolls.. 146, 300 145,300
EMPLOYMENT AND WAGES
Employment in factories:
494
480
New York State
thousands
487
206
Detroit
thousands..
226
226
98.9
94.4
97.0
New Jersey (rel. to 1923)... index number..
86.9
87.0
Pennsylvania (rel. to 1923) .index number..
89.5
78.5
73.5
Delaware (rel. to 1923)
index number..
75.7
119.4
115.2
Wisconsin (rel. to 1915)
index number.,
117.3
98.1
96.9
97.5
Illinois (rel to 1922)
index number
87.4
85.9
89.5
Massachusetts (rel. to 1914) .index number..
Total pay roll:
14,717
14,214
14,010
New York State
thous of dolls
273.0
268.1
Wisconsin (rel. to 1915)
index number..
259.3
108.4
102.4
106.1
New Jersey (rel. to 1923).. -index number..
89.4
94.0
91.6
Pennsylvania (rel. to 1923) -index number..
77.9
83.0
79.8
Delaware (rel. to 1923)
index number..
Ohio construction employees
68.8
65.7
64.5
(rel. to 1923)
index number
Federal civilian employees, Wash59, 772
59,879
ington, D. C., end of month
number.. 59, 591
7
Cumulative through June 30.




479
189
94.1
85.6
71.6
116.0
96.6
84.1

471
202
93.0
84.1
73.2
119.7
93.1
82.1

496
225
90.3
90.7
80.5
121.2
101.0
88.2

485
234
91.8
90.4
80.9
125.8
101.1
83.0

-1.7
+6.9
-1.2
-1.8
+2.2
+3.2
-3.6
-2.4

-2.9
-13.7
+1.3
-7.0
-9.5
-4.8
-7.9
-1.1

13,977
266.6
102.8
87.3
74.8

13,632
255.7
98.0
81.1
73.8

14,390
280.7
96.1
93.0
84.5

13,966
270.6
96.4
88.1
80.2

-2.5
-4.1
-4.7
-7.1
-1.3

-9.6
-5.5
+1.7
-7.9
-8.0

76.6

88.1

100.0

107.7

+15.0

60,811

60,435

59,800

-18.2

74, 801, 968 74, 793, 619

-0.2

7 35, 547
7 13, 149
7 22, 399

738,929
7 14, 871
7 24, 058

+9.5
+13.1
+7.4

7 2, 395
7 33, 152
7 838, 800

7 2, 279
7 36, 650
7882,000

-4.8
+10.6
+5.2

43

TREND OF BUSINESS MOVEMENTS—Continued
1927

The cumulatives shown are through
July, except where otherwise noted.
Earlier data for items shown here may
be found on pages 23 to 133 of the
August, 1927, " Survey " A

March

April

May

PER CENT INCREASE (+) OR
DECREASE (— )

1926

June

July

June

July

July,
1927,
from
June,
1927

CUMULATIVE TOTAL
FROM JANUARY 1
THROUGH JULY 31

July,
1927,
from

July,

1926

1927

1926

Per ct.
increase
(
or-tf
decrease
(-)
cumulative
1927
from
1926

EMPLOYMENT AND WAGES— Contd.
Average weekly earnings (State reports) :
Illinois factory labor
dolls..
New York State, factory labor
dolls..
Wisconsin, factory labor.. . .
.dolls..
Massachusetts (rel. to 1914) .index number..
New Jersey (rel. to 1923) ...index number..
Pennsylvania (rel. to 1923) ..index number __
Delaware (rel. to 1923)
index number __
Average weekly earnings (National Industrial
Conference Board)-.
Grand total (both sexes)
dollars
Total male
dollars..
Skilled male.., .
.
dollars
Unskilled male
.
dollars..
Total women
dollars..
Average weekly hours:
Nominal (both sexes)
hours..
Actual (both sexes)
hours
Wages of common labor, by geographic
divisions:
New England
cents per hour
Middle Atlantic
cents per hour
South Atlantic
cents per hour
East South Central
cents per hour
West South Central
cents per hour
East North Central
cents per hour..
West North Central
cents per hour
Mountain _ .
cents per hour
Pacific
.
cents per hour
United States, average
cents per hour..
Wage rates, U. S. Steel Corp.. .cents per hour..
Wages, steel workers, Youngstown
district
_
per cent of base
Applicants per 100 jobs, employment agencies:
United States, average
number. _
Eastern States
number
Central States
_
number-Southern States
number
Western States
number. _

28.72
29.78
25.80
234.2
110.3
104.5
103.9

29.07
29.17
25.81
234.9
110.2
104.9
103.6

28.60
29.18
25.52
234.7
109.2
102.3
104.2

29.27
29.17
26.05
231.9
110.0
101.6
102.7

27.53
30.00
31.39
24.92
17.48

27.39
30.03
31.50
24.60
17.39

27.52
30.20
31.69
24.68
17.36

49.6
48.5

50.4
48.1

51
51
32
24
26
39
37
42
52
39
50

28.32
28.95

29.02
28.99
26. 12
227.8
106.9
102.2
103.0

27.96
28.80
24.27
227.6
105.4
97.1
97.3

27.34
29.98
31.48
24.49
17.37

27.06
29.78
31.38
24.14
17.07

26.78
20.21
30.76
23.67
17.29

49.6
48.3

49.6
47.9

50.0
47.9

49.6
47.0

49
47
25
25
34
38
38
43
52
39
50

49
46
27
24
26
37
38
45
50
38
50

51
46
29
25
26
38
38
44
54
39
50

50
47
30
25
30
37
37
45
54
39
50

46
45
28
25
27
38
36
45
53
38
50

48
47
27
25
26
37
37
46
52
39
50

128.5

128.5

125.5

125.5

125.5

133.0

133.0

137
146
165
125
67

119
122
140
111
62

118
121
137
119
61

137
149
163
125
65

130
123
174
109
54

120
128
139
107
78

45.9
33.1
6.2
6.6
45.2

45.7
31.1
8.7
5.9
51.3

45.8
31.7
7.8
6.3
35.3

54.0
31.2
8.4
7.2
49.4

46.2
35.4
6.1
4.9
57.2

229.1
106.0
95.9
99.0

-3.2
-0.8

+1.3
+0.5

-1.2
-3.6
-5.6
-3.6

+0.7
+0.6
-1.2
+1.7

-2.0 +4.2
+2.2
0.0
+3.4 +11.1
0.0
0.0
+15.4 +15.4
-2.6
0.0
-2.6
0.0
+2.3 -2.2
0.0 +3.8
0.0
0.0
0.0
0.0
0.0

-5.6

53.0
38.9
7.1
7.1
54.2

-27.6
-11.5
-33.3
-18.1
-23.5

-26.2
-29.0
-21.1
-16.9
-30.3

41, 296
34, 887
18,275
16, 612

35, 670
31, 995
20, Oil
11, 984

-12.4
-8.5
+8.4
-28.1

+2.7
+3.0
+4.7
+0.2

289, 611
253, 835
146, 633
107, 202

351, 494
254, 930
150, 687
104, 243

33, 026
2,128
19, 022
1,451
8,834
329
2,363
181
3,807
167
856
80
779
40
2,640
88

34, 457
2,142
19, 401
1,460
8,886
332
2,474
183
3,696
167
831
80
790
40
2,417
89

-1.5
+1.0
-1.1
+0.8
-2.7
+1.5
-0.1
+ 1.9
-1.3
0.0
-4.3
0.0
-10.5
0.0
-8.5
0.0

+7.0
+9.0
+4.0
+5.9
+10.2
+21.7
+ 15.6
-15.8
+9.8
+3.0
+4.0
+7.5
+ 15.4
+32.5
+24.9
+33.7

226, 374

239, 821

126, 602

136, 953

58, 723

65, 693

86, 769
25, 371

88,856
25,607

7,226
613

Factory Labor Turnover
(Percentages of number on pay roll)
Departures:
Total
Voluntary quits
Layoffs
Discharges
Accessions

percent.per cent
per cent
..per cent-percent..

39.1
27.6
5.6
5.9
37.8

DISTRIBUTION MOVEMENT
Retail Sales
Mail-order houses:
36, 639
Total sales, 4 houses
thous. of dolls. _ 8 48, 098 8 46, 895 8 38, 789 8 41, 849
40, 648
33, 742
32, 967
Total sales 2 houses . thous of dolls
41, 147
36,039
24, 091
19, 994
19, 341
20, 961
Sears Roebuck & Co
thous. of dolls . 23, 254
16, 557
13, 748
12,006
Montgomery Ward & Co.. thous. of dolls.- 17, 893
16, 698
Ten-cent chain stores:
36, 884
40, 775
37,533
37, 444
Total sales (4 chains)
thous. of dolls.. 35, 575
2,281
2,334
Total stores operated (4 chains). .number..
2,261
2,300
2,311
22, 350
F. W. Woolworth & Co thous. of dolls.. 19, 602
20, 916
20, 176
20, 406
1,515
1,528
1,546
Stores operated
_ number. _
1,505
1,533
9,791
S S Kresge Co
thous. of dolls
10, 788
9,602
9,183
10, 064
404
388
Stores operated
number
382
392
398
2,859
3,308
2,852
McCrory Stores Corp
thous. of dolls..
2,863
2,860
212
207
208
Stores operated
number
202
208
4,329
4,111
4,058
S H Kress & Co
thous of dolls
4,163
3,930
172
171
172
172
Stores operated
number
172
864
Metropolitan
thous. of dolls
855
1,000
903
801
82
86
Stores operated
number
83
82
86
912
1,189
F. & W Grand
thous. of dolls
879
936
1,019
52
53
Stores operated
number..
53
53
50
2,364
3,018
W T Grant Co
thous of dolls
2,789
3, 160
3,299
119
115
119
Stores operated .
number
117
111
Chain stores:
GroceriesSales
thous. of dolls.. 8 109, 870 8 108, 071 8 107, 517 8 111, 900 104, 674
27, 869
Stores operated
number
8 26, 839 8 27, 057 8 27, 344 8 27, 666
Drug8,484
8,739
8,075
Sales
thous. of dolls..
8,768
8,236
747
728
731
Stores operated
.
number
742
746
Cigar9,274
9,309
9,080
Sales
thous. of dolls..
9,077
8,943
Stores operated
number
3,414
3,422
3,404
3,406
3,413
Shoe3,621
4,628
3,266
Sales
-thous. of dolls2,929
3,350
589
598
Stores operated
number. 587
595 1
575
8
Revised.




+21.4
+0.4

5,136

5,771

5,196

6,305

16, 812

20, 084

+2.8
-2.8
+5.9
+8.2
+11.9
+ 18.6
+8.0
+12.4
+21.3
+19,5

-6.5 +17.8
+0.7 +8.8

603, 318

836, 943

+38.7

7,656
631

+3.0 +10.8
+2.2 +18.4

51, 025

68,608

+34.5

8,979
3,310

9,210
3,321

+1.5
+0.3

-1.4
+3.0

60,095

74,894

+24.6

3,586
556

3,382
561

-9.8
+0.5

-3.4
+6.6

23,049

27, 881

+21.0

16, 665

19, 757

25, 384

27, 418

44

TREND OF BUSINESS MOVEMENTS—Continued
1937

The cumulatives shown are through
July, except where otherwise noted.
Earlier data for items shown here may
be found on pages 23 to 133 of the
August, 1927, "Survey"

March

April

May

PEE CENT INCREASE (+) OR
DECREASE (— )

1926

June

July

June

July

i July,
1927,
from
June,
1927

July,
1927,
from
July,
1926

CUMULATIVE TOTAL
FROM JANUARY 1
THROUGH JULY 31

1926

1927

Per ct.
increase
-(+)
or decrease
(-)
cumulative
1927
from
1926

DISTRIBUTION MOVEMENT— Contd.
Retail Sales— Continued.
Chain stores— Continued.
MusicSales
Stores operated
Candy—
Sales
.__
Stores operated
Restaurant chains:
Childs Co., sales
J. R. Thompson Co.,
sales .
Other chain stores:
Isaac Silver & Bros
Stores operated
Hartman Corporation
Stores operated
J. C. Penny Co
Stores operated
United Cigar Stores Co
Stores operated
A. Schulte (Inc )
Stores operated
Owl Drug Co
Stores operated

thous of dolls
number

976
63

938
62

794
62

784
62

720
62

1,071
59

976
60

-8.2
0.0

-26.2
+3.3

6,885

7,970

+15.8

thous. of dolls .
number

2,618
253

3,117
258

2,621
271

2,606
275

2,558
277

2,476
269

2,550
276

-1.8
+0.7

+0.3
+0.4

17, 074

21, 728

+27.3

16, 931

16, 760

-1.0

thous. of dolls

2,522

2,443

2,402

2,281

2,256

2,495

2,376

-1.1

-5.1

-thous. of dolls ._

1,243

1,198

1,222

1,173

1, 155

1,210

1,171

-1.5

-1.4

8,360

8, 334 i

-0.3

thous. of dolls _
number
thous. of dolls__
number
thous. ofdolls_.number _
thous. of dolls..
number
thous. of dolls .
number
thous. of dolls_number

388
20
1,168
17
9,796
780
6, 500
3,102
2,542
294
1,456
95

465
20
2,424
17
13, 508
781
6, 652
3,112
2,592
294
1,413
94

410
21
1,783
17
11, 425
885
6,774
3,105
2,493
290
1,274
94

430
21
1,192
17
11,377
787
6,471
3,106
2,471
296
1, 494
94

415
21
1,066
17
10, 441
787
6,593
3,115
2,447
296
1,372
95

329
15
1,630
16
9,092
697
6,623
3,017
2,314
282
1,408
88

367
16
1,222
15
8,325
697
6,783
3,027
2,388
285
1,441
91

— 3. 5
0.0
-10.6
0.0
-8.2
0.0
+1.9
+0.3
-1.0
0.0
-8.2
+1.1

+13.1
+31.3
-12.8
+13. 3
+25.4
+12.9
-2.8
+2.9
+2.5
+3.9
-4.8
+4.4

2,137

2,700

+26.3

9,627 !

-9.6

2,770
112, 123

2,350
112, 108

1,864
100, 873

1,734
84,138

1,833
105, 848

1,689
8 88, 051

-7.0
-16.6

+2.7
-4.4

29, 785
5,622
1,460

32, 175
6,202
2,627

29, 497
5, 019
2,379

24, 668
5,487
1,950

31, 664
5,438
2,510

26, 383
5,904
2,086

-16.4
+9.3
-18.0

3,057
894
4,336
389
1,412
492
186
968
1,733
240

2,610
911
4,752
804
1,101
450
110
875
2,530
205

2,527
918
4,565
965
549
538
90
944
2,909
148

2,241
895
3,533
724
278
172
73
624
2,246
49

2,786
918
4,859
965
555
596
96
1,024
3,174
157

2,447
895
3,730
724
281
189
83
685
2,442
53

4,792
283
3,921

4.547
205
4,246

4,052
72
3,822

3,564
30
2,802

4,294
83
4,209

3,758
33
3,073

34, 590

31, 750

29, 323

29, 681

26, 300

28,719

26, 783

3,572

3,338

3,082

3,069

2,988

2,952

3,073

12, 715
98, 572

11, 623
92, 019

10, 348
83, 189

10, 951
85, 373

9,529
76, 970

11, 276
87, 257

3,650
36, 394

3,378
34, 857

3,240
33, 931

3, 126
32, 177

2,994
32, 759

242, 606
2,040

247, 479
1,936

177,403
1,442

175,069
1,526

5.4

5.1

5.2

4.3

10, 652
54, 399

70;208 . +29.1

44, 340

44,428 ;

+0.2

15, 467

17,111

+10.6

9,215

9,580

+4.0

17, 427
732, 108

17,910 ;
703,529

+2.8
-3.9

-6.5
-7.1
-6.5

209, 523
43, 406
10, 472

195, 296
38,542
11,636

-6.8
-11.2
+11.1

-11.3
-2.5
-22.6
-25. 0
-49.4
-68.0
-18.9
-33.9
-22.8
-66.9

-8.4
0.0
-5.3
0.0
-1.1
-9.0
-12.0
-8.9
-8.0
-7.5

16, 506
6. 576
28, 101
3,684
4,189
2,374
990
7,364
14, 544
1,134

17,565 ; +6.4
6,368 ; -3.2
-5.7
26,510 i ,
3,936 ! +6.8
4,068
-2.9
2,009
-15.4
907
-8.4
7,434
+1.0
13,228
-9.0
985 -13.1

-12.0
-58.3
-26.7

-5.2
-9.1
-8.8

40, 687
1,038
27, 458

35,938 i -11.7
-9.4
940
25, 230 i -8.1

-11.4

-1.8

205, 558

211,337

+2.8

-2.6

-2.8

22, 134

22, 650

+2.3

9,868
79, 733

-13.0
-9.8

-3.4
-3.5

76, 244
586, 475

76,018 !
594, 276

-0.3
+1.3

3,214
33, 289

2.970
32, 154

-4.2
+1.8

+0.8
+1.9

22, 128
227, 861

22, 849
226,359

+3.3
-0.7

201, 183
1,427

192, 591
1,528

167, 635
1,388

+14.9
-6.5

+20.0
+2.8

6.0

3.6

5.2

+39.5

+15.4

216, 956
732, 665
161
949, 782

237, 020
743, 137
167
980, 324

221, 697
716, 607
149
938, 453

-8.2
-10.3
-14.8
-9.9

-2.1
+2.2
+8.1
+1.2

1,539,338
5,422,360
1,216
6, 962, 914

1, 576, 281
5, 640, 850
1,269
7, 218, 400

+2.4
+4.0
+4.4
+3.7

978, 721 1,023,867
43, 710
29, 100

991, 361
53, 057

-10.6
-29.1

-1.3
-45.2

7, 298, 500
334, 802

8,098,291
281, 160

Advertising
Magazine advertising for the following
month
_
thous. of lines 2,720
Newspaper advertising
thous. of lines. . 106, 700
National advertising in newspapers:
Total
thous. of lines. - 29, 500
Automobile advertising
thous. of lines- 5,267
Automobile accessories
thous. of lines. 1, 085
Cigars, cigarettes, and
tobacco
thous. of lines. .
3,153
Financial
thous. of lines _
923
Food, groceries, beverages. -thous. of lines.3,983
Hotels and resorts
thous. of lines. .
537
Household furniture
thous. of lines 306
Men's clothing
thous. of lines__
294
Musical instruments
thous. of lines. .
103
Radio and electrical
-thous. of lines. 1,214
Railroads and steamships
thous. of lines. .
1,235
Shoes
thous. of lines. 162
Toilet articles and medical
preparations
thous. of lines..
6,983
Women's wear
thous. of lines. _
215
Miscellaneous
. _ thous. of lines
4,040
Postal Business
Postal receipts, 50 selected
cities
thous. of dolls..
Postal receipts, 50 industrial
cities
thous. of dolls. Money orders:
Domestic paid (50 cities)—
Quantity
number
Value
thous. of dolls . _
Domestic issued (50 cities) —
Quantity
number _
Value
thous. of dolls
Wholesale Trade
Delinquent accounts, electrical trade:
Amount
dollars
Number of
firms
number
Retail Tradef
Installment sales in New England department
stores:
Ratio to total sales
per cent..
BANKING AND FINANCE
Life Insurance
(Association cf Life Insurance Presidents)
Policies new (45 companies) :
233, 729
236, 429
Ordinary . .
-number of policies . 249, 584
246, 519
Industrial
_
number of policies-- 890, 560
851, 905
902, 343
816, 966
197
189
Group
-_
number of contracts
178
176
Total
number of policies and contracts _ _ 1,140,322 1,098,600 1, 136, 269 1,053,584
Policies and certificates issued:
Total policies and certificates
number _. 81,204,947 81,729,415 1, 166, 877 1,094,877
41, 042
30, 805
Group insurance certificates .. .certificates ._ 8 64, 803 8 30, 991

s Revised.




+11.0
-16.0

45
TREND OF BUSINESS MOVEMENTS—Continued

The cumulative^ shown are through
July, except where otherwise noted.
Earlier data for items shown here may
be found on pages 23 to 133 of the
August, 1927, "Survey"

PER CENT INCREASE (+) OR
DECREASE (— )

1926

1927

July,
March

April

1927,

from
June,
1927

July,
1927,
from
July,
1926

CUMULATIVE TOTAL
FROM JANUARY 1
THROUGH JULY 31

Per ct.
increase
<+)
or decrease
(-)
cumulative
1927
from
1926

May

June

July

June

July

699, 846
241,662
45,683
987,191

696, 742
221, 780
67, 817
986,339

638, 866
200, 835
54, 229
893, 930

704, 852
202, 315
69, 282
976, 449

658, 562
194, 315
78, 125
931,002

-8.3 -3.0
-9.4 +3.4
-20.0 -30.6
-9.4 -4.0

4, 623, 191 4, 728, 732
1, 479, 484 1, 525, 766
496,264
458, 310
6,598,939 6, 712, 808

+2.3
+3.1
-7.6
+1.7

145, 256
45, 750
4,943
195, 949

151,009
46, 584
5,164
202, 757

140, 517
47, 108
5,123
192, 748

132, 268
43, 747
4,206
180, 221

133, 755
42, 639
4, 457
180, 851

-6.9 +5.1
+M +10.5
-0.8 +14.9
+4.9 +6.6

926, 993 1,017,307
319, 832
289, 840
38,299
34,082
1, 250, 915 1, 375, 438

+9.7
+10.3
+12.4
+10.0

10, 896

10, 982

9,882

9,969

4,764
1,615
3,149

4,806
1,617
3,189

4,181
1, 568
2,613

4,238
1,572
2,666

4,085
914
2,210
816
145

4,117
915
2,225
831
146

3,888
962
2,128
688
110

3,899
951
2,132
705
111

1,291
756

1,305
754

1,174
639

1,184 I
648

752, 267
309, 265
163, 551
110, 3lO
91, 834
77, 277
44, 553

763, 495
309, 396
165, 803
115, 180
99, 022
74, 094
45, 298

-3.1
-4.2
-1.3
-4.6
-0.8
-3.5
-0.3

4, 935, 138 5, 087, 124
1, 992, 849 2, 110, 880
1, 064, 730 1, 118, 052
748, 521
773, 990
617, 176
606, 282
503, 389
486, 393
268, 918
286, 838

+3.1
+5.9
+5.0
-3.3
-1.8
+3.5
+6.7

220, 224
161,470
10, 328

+10.1
+2.7
+10.0

1926

1927

BANKING AND FINANCE-Continued
Life Insurance— Continued
Amount of new insurance (45 companies) :
Ordinary
thous. of dolls.. 740, 725 749, 923
241, 701
Industrial.
._
thous. of dolls
227, 279
Group
thous. of dolls.. 88103,057 8 46, 960
Total insurance
thous. of dolls.. 1,085,483 81,024,162
Premium collections (45 companies) :
159, 168
Ordinary
thous. of dolls
149, 993
Industrial.._
thous. of dolls _. 45, 534 845,650
5,774
Group
thous. of dolls..
5,427
Total
thous. of dolls.. 210, 476 201, 070
Admitted life insurance assets (41 companies) :
Grand total
mills, of dolls .. 10, 713
10, 812
Mortgage loans—
Total
•___.
mills, of dolls..
4,686
4,722
1,604
Farm
mills, of dolls
1,611
Allother
mills, of dolls .
3,082
3,111
Bonds and stocks (book value) —
4,033
Total
mills, of dolls ..
4,067
Government
mills of dolls
921
917
2,183
2,204
Railroad
mills, of dolls
Public-utility
mills of dolls
' 792
806
137
All other
mills, of dolls.140
Policy loans and premium
notes.^
mills, of dolls
1,268
1,282
Other admitted assets
mills of dolls
741
726
(Life Insurance Sales Research Bureau)
Sales of ordinary life insurance (81 companies) :
United States total
thous. of dolls. .
Eastern manuf. district.thous. of dolls. .
Western manuf.district.thous. of dolls..
Western agric. district._thous. of dolls. .
Southern district
thous. of dolls..
Far western district
thous. of dolls. _
Canada total, 15 companies-thous. of dolls..

836, 995
356, 736
183, 761
121, 369
92, 094
83,035
42, 883

778,451
316, 582
173, 372
114, 529
93, 904
80, 064
41, 631

680, 076
267, 873
151, 721
105, 250
86,058
69, 174
39, 962

749, 567
289, 847
162,750
124, 381
96, 540
76, 049
44, 634

702, 129
279, 650
153, 663
110, 372
86, 758
71, 686
40, 101

-10.9
-13.4
-8.5
-8.6
-13.1
-6.6
-11.8

Banking
Debits to individual accounts:
New York City
mills, of dolls.. 34, 492
32, 007
27, 659
28, 196
31, 270 8 33, 008
30, 750
Outside New York City
mills, of dolls. . 24,028
22, 937 8 22, 466
23, 674
23, 579
23, 813
22, 875
Bank clearings (Canada)
mills, of dolls. 1,443
1,411
1,476
1,473
1,645
1,586
1,376
Federal reserve banks:
Bills discounted
mills, of dolls
521
456
444
477
398
497
515
Notes in circulation
mills, of dolls..
1,662
1,711
1,697
1,671
1,718
1,703
1,740
Total investments
mills . of dolls _ _
593
562
594
556
643
593
585
Total reserve
mills of dolls
3,183
3,207
3,184
3,181
2,980
2,999
3,154
Total deposits
..mills, of dolls..
2,328
2,314
2,399
2,330
2,367
2,260
2,261
Reserve ratio
per cent-79.7
78.8
75.3
79.5
76.8
77.6
76.3
Federal reserve member banks:
Total loans and discounts mills, of dolls _ _ 14, 359
14, 353
14, 488
14, 625
14, 718
14, 135
13, 976
Total in vestments
mills, of dolls..
5,914
5,924
5,992
5,681
5,652
5,977
6,050
Net demand deposits
mills, of dolls.. 13, 006
13, 041
13, 200
13, 414
13, 381
13, 252
12, 846
Brokers' loans, end of month:
To New York Stock
Exchange members
thous of dolls 3, 289, 781 3,341,210 3, 457, 869 3, 568, 967 3, 641, 695 2, 926, 298 2, 997, 760
By New York F. R. member
banks
___thous. of dolls .. 2, 803, 312 2, 882, 994 3, 061, 891 3, 117, 920 3, 141, 193 2, 565, 177 2, 602, 042
Interest rates:
New York call loans
per cent
4.00
4.19
4.10
4.34
4.31
4.33
4.43
Commercial paper 4-6 mos
per cent..
4.30
3.88
3.98
4.06
4.13
4.13
3.95
N. Y. Fed. Res. Bank. _
..per cent
4.00
4.00
3.50
4.00
4.00
4.00
3.50
Federal land banks
per cent..
5.25
5.25
5.25
5.25
5.25
5.25
5.25
Intermediate credit banks
per cent. _
4.50
4.50
4.50
4.50
4.50
4.50
4.50
Savings Deposits
New York State savings
banks, end of month
thous. of dolls. .3, 973, 202 3, 963, 170 3, 972, 408 4, 034, 152 4, 023, 347 3, 726, 826 3, 721, 746
Public Finances
Government debt, gross..
.mills, of dolls.. 19,008
Customs receipts
thous. of dolls.. 52, 753
Total ordinary receipts
thous. of dolls
659, 116
Expenditures chargeable to
ordinary receipts
_ thous of dolls
330, 329
Money in circulation:
Total
mills, of dolls..
4,758
Per capita
. . . dollars
40.81

-6.8 +11.2
-3.7 -3.1
-6.9 +7.3

200, 083
157, 263
9,393

-16.6 -23.6
—2 4 -0.5
-6.4 -5.4
-0.1 +6.1
-2.9 +3.1
+2.7 +4.5

-1.6
-1.0
-1.4

j

+3.7
+6.0
+2.8

+2.0

+21.5

+0.7

+20.7

-7.6 -9.7
+4.1 +8.9
0.0 +14.3
0.0
0.0
0.0
0.0

-0.3

+8.1

18, 941
51, 253
190,380

18, 874
45, 615
170,370

18, 512
48, 988
742, 691

18, 463
50,481
173, 970

19, 643
47, 261
651, 639

19, 613
49, 352
236, 020

-0.3 -5.9
+3.0 +2.3
-76.6 -26.3

132, 121
140, 030
337, 164
336, 161
2, 289, 092 2, 271, 845

-5.6
+0.3
-0.8

310, 511

213, 028

363, 717

203, 579

362,203

222,095

-44.0

-8.3

2, 022, 998 1, 883, 924

-6.9

4,784
40.99

4,786
40.97

4,745
40.58

4,744
40.53

4,835
41. 85

4,858
42.01

0.0
-0.1

-2.3
-3.5

Business Failures
Liabilities:
Total commercial .
. .thous. of dolls
57, 891
53, 156
37, 785
Manfg. establishments
thous. of dolls. . 22, 368
25, 278
13, 802
Trade establishments
thous. of dolls. _ 28, 191
22, 308
19, 978
Agents and brokers
thous. of dolls.. 1 7,332
5,570
4,005
Banks (quarterly)
thous. of dolls_. 65, 802
Liabilities (Canada)..
thous. of dolls..
2,019
1,557 1
1,826
i Quarter ending March 31,1927.
2 Quarter ending June 30,1927.

34, 465
13, 587
17,856
3,022
2 25. 428

43,150
16, 743
16, 832
9,575




239, 568
29, 680 +25.2 +45.4
11, 167 +23.2 +49.9
90, 918
-5.7 +15.2
14, 614
125, 395
3,898 +216. 8 +145. 6
23, 256
-61.4 -16.1
1 56, 203
s 2, 594 , -39.7 -31.2
2,958
16, 618
7
» Quarter ending June 30,1926.
Cumulative through June 30.
29, 408
10, 092
15, 525
3,791
! 330,309
1,785 i s i, 461

324, 678 +35.5
122, 292 +34.5
153, 101 +22.1
49, 285 +111.9
7 91, 230 +62.3
15, 312
-7.9
8
Revised.

46

TREND OF BUSINESS MOVEMENTS—Continued
1937

The cumulatives shown are through
July, except where otherwise noted.
Earlier data for items shown here may
be found on pages 23 to 133 of the
August, 1927, "Survey"

PER CENT INCREASE (+) OR
DECREASE (— )

1936

July,
March

May

April

June

1927,

July

June

July

from
June,
1927

July,
1927,
from
July,
1926

CUMULATIVE TOTAL
FROM JANUARY 1
THROUGH JULY 31

Per ct.
increase
(+)
or decrease
(-)
cumulative
1927
from
1926

1926

1937

-4.2 +9.4
+4.9 +13.1
-9.4 +5.8
+26.0 +39.1
-53.4 -29.6
-7.7 -15.3

13,081
3,188
9,278
615
7209
1,227

14, 052
3,292
9,949
811
7
255
1,207

+7.4
+3.3
+7.2
+31.9
+22.0
-1.6

+7.5

2, 854, 157

3, 122, 927

+9.4

-29.7 +4.5
-23.2 +4.1
+3.7 +3.5
-50.8 +14.0

785, 685
415, 525
232, 665
70, 095

829, 055
434, 250
243, 825
77, 175

+5.5
+4.5
+4.8
+10.1

BANKING AND FINANCE-Continued
Business Failures— Continued
Firms:
Total commercial
number.
Manufacturing establishments. ..number..
Trade establishments
number
Agents and brokers
number.
Banks (quarterly)
number..
Firms (Canada)
.
number

1,833
427
1,310
96

2,143
569
1,468
106
U74
188

1,968
492
1,342
134

1,852
444
1,292
116

152

157

156

460, 100

322, 706

365, 173

thous. of dolls.. 104, 200
thous. of dolls._
65, 475
thous. of dolls _. 27, 550
thous. of dolls. . 11,175

67, 805
34, 150
26, 300
7,350

74, 475
43, 275
25, 450
5,750

1,605
396
1,122
87

144

1,708
435
1,160
113
U15
150

553, 553

252, 325

494, 700

8 234, 800

129, 850
65, 200
33, 450
13, 200

91, 225
50, 050
34, 675
6,500

121,500
62, 300
31, 900
11, 600

8 87, 300
8 48, 100
33, 500
8
5, 700

1,756
448
1,187
121

281

8170

Dividend ana Interest Payments
(For the following month)
Grand total
Dividend payments:
Total
Indus. and misc. corp
Steam railroads
Street railways
Aver, payments on industrial
stocks (otly )

thous. of dolls..

dolls, per share

28.83

18.45

-54.4

+4.5 +15.4

37.65

New Security Issues
Foreign governments
. thous. of dolls
Total corporation
thous. of dolls. .
Purpose of issueNew capital
thous. of dolls..
Refunding
thous. of dolls
Kinds of issueStocks
thous of dolls
Bonds and" notes
_ thous. of dolls
Class of industryRailroads
thous. of dolls
Public utilities
thous. of dolls
Industrials
thous. of dolls
Oil
- thous. of dolls
Land and buildings
thous. of dolls. _
Shipping and misc
thous. of dolls. _
Bond issues (Canada):
Oovt and provincial
thous. of dolls
Municipal
..
thous. of dolls. .
Corporation
thous. of dolls..
Tax-exempt securities:*
Total outstanding, end of
month
mills, of dolls
States and municipalities:
Permanent loans
thous. of dolls
Temporary loans
thous. of dolls.
New incorporations
.thous. of dolls..

84, 140
494, 373

121,686
521, 496

23, 000
711, 861

54, 400
707, 548

25, 596
371, 095

27, 600
472, 402

12, 520
474, 384

435, 875 +102. 3
-52.9 +104. 4 | 215, 492
-47.6 -21.8 3, 352, 378 4, 202, 057 +25.3

392,426
101, 947

389,915
131, 581

446, 072
265, 789

538, 295
169, 253

341, 658
29, 437

379, 039
93, 363

414, 635
59, 748

-36.5
-82.6

-17.6
-50.7

2, 936, 989
415, 388

3, 156, 457
+7.5
1, 045, 600 +151. 7

114,507
379, 687

101, 403
420, 093

127, 464
584, 397

155, 867
551, 682

79, 052
292, 043

57, 196
415, 206

101,036
373, 348

-49.3 -21.8
-47.1 -21.8

865, 571
2, 486, 807

964, 782
3, 237, 097

89, 716
188, 212
50, 979
31, 500
58, 510
75, 081

57, 830
196, 731
58, 963
79, 500
56, 294
71,851

129, 225
255, 614
83, 288
75, 100
41, 510
67, 124

204, 223
155, 006
159, 767
30, 000
74, 720
83, 833

14, 306
115, 360
69, 127
20, 750
48, 936
102, 616

40, 376
215, 876
76, 744
2,050
94, 744
42, 362

40, 775
211, 829
91, 801
6,500
82, 893
40, 585

-29.9 -64.9
-25.6 -45.5
-56. 7 -24.7
-30.8 +219. 2
-34.5 -41.0
+22.4 +152. 8

262, 611
1, 412, 791
679, 478
177, 037
437, 800
347, 347

636, 518 +142. 4
1, 594, 782 +12.9
678, 589
-0.1
308, 138 +74.1
410, 114
-6.3
511,215 +47.2

5,176
14, 625

10, 044
11, 531
31, 260

8,400
1,517
30,100

271
2,226
10, 374

4,799
31, 557

21, 943
3,342
34, 005

15, 553

15, 599

15, 731

15, 797

14, 894

14,984

77, 237
9,969
273, 906

145, 616
58, 335
757, 355

8 90, 964
51, 831
454, 865

93, 504 8 124, 918
67, 252
67, 501
271,448
307, 744

8

210, 323 8 165, 277
8
18, 010 8 26, 625
314, 363
292, 280

+11.5
+30.2

-3.1

167, 393
37, 034
162, 260

54, 966
41, 089
138,410

-67.2
+10.9
-14.7

-53.3
-62.6
-12.9

-14.8
-80.8
-39.8

834, 008
444,438
7,555,303

918, 695
341, 700
3, 142, 396

+10.2
-23.1
-58.4

+0.4
0.0

+8.3
+0.3

5, 250
4,950 +115. 6
48, 005 +202. 2

Agricultural Finances
Loans outstanding, end mo.:
Federal farm loan banks — thous. of dolls.. 1, 109, 354 1, 117, 914 1, 124, 055 1, 130, 648 1, 134, 896 1, 043, 955 1, 048, 275
600, 150
605, 718
607, 517
Joint-stock land banks
thous. of dolls.. 656, Oil
614, 481
607, 679
617, 220
• Federal intermediate credit
76,450
71, 139
65, 051
banks
.thous. of dolls.. 78, 383
76, 895
70, 888
4,846
11, 188
10, 803
War Finance Corporation_.thous. of dolls..
6,347
4,731
5,220
5,050

-2.4

-56.2

Stocks and Bonds
Stock prices, average daily closing:
25 industrials, average
dolls, per share. . 188. 70
25 railroads, average
dolls, per share..
106. 58
103 stocks average
dolls per share
120.30
Southern cotton mill
stocks
dolls, per share
110.73
Bond prices:
Highest grade rails.p. ct. of par, 4% bond..
92.96
83.72
Second-grade rails. _p. ct. of par, 4% bond..
76.10
Public utility
p. ct. of par, 4% bond..
79.65
Industrial
p ct of par 4% bond
82.66
Comb, price index__p. ct. of par, 4% bond..
Stock sales:
N. Y. Stock Exchange
thous. of shares.. 56, 057
Bond sales:
Miscellaneous
thous. of dolls
313, 565
Liberty-Treasury
thous. of dolls. _ 45, 471
Total
thous. of dolls.. 359, 036

+5.0 +36.1
+1.2 +24.8
+8.3 +20.5

199. 99
110. 74
121. 65

209. 83
113. 60
131. 18

211. 25
115. 63
125.45

221. 90
117.00
135. 83

155. 81
92.37
111. 50

163. 01
93.77
112.75

111.36

111. 93

112. 34

112. 48

113. 84

110. 58

+0.1

+1.7

94.74
84.48
76.19
79.58
83.19

95.06
84.84
76.49
79.38
83.37

93.48
84.10
76.76
78.37
82.69

93.57
84.16
76.85
78.60
82.81

89.59
82.20
74.89
78.08
80.82

89.11
81.53
75.14
77.79
80.56

+0.1
+0.1
+0.1
+0.3
+0.1

+5.0
+3.2
+2.3
+1.0
+2.8

-19.2

+4.8

254, 724

317, 334

+24.6

-12.5 +13.7
-50.4 -13.8
-16.6 +11.5

1, 697, 142
171, 033
1, 768, 175

2, 056, 957
195, 197
2, 252, 154

+21.2
+14.1
+27.4

49, 636

46, 598

47, 630

38,493

37,990

36, 732

290, 520
25,800
316, 320

303, 510
31, 163
334,673

288,469
34, 837
323, 306

252, 423
17, 289
269, 712

250, 875
26, 452
277, 327

221, 926
20, 052
241, 978

(For 1st of following month)
5 Liberty bonds
16 foreign government and
city....----.
..-

p. ct. of par..

103. 62

103. 41

104. 14

103. 71

103. 58

p. ct. of par..

105. 02
100.71
3.98

104.74
100. 67
3.95

105. 07
101. 03
3.95

104.96
100. 63
4.01

105. 42
100.79
4.06

Municipal bond yield
per cent—
i Quarter ending Mar. 31, 1927.




» Quarter ending June 30,1927.

102. 95

102. 74

-0.1

+0.8

+0.4 +2.0
+0.2 +1.7
-1.2
+1.2
• Quarter ending June 30,1926.1
103.31
99.42
4.10

103.40
99.15
4.11

s Revised.

47

TREND OF BUSINESS MOVEMENTS—Continued
1937

The cumulatives shown are through
July, except where otherwise noted.
Earlier data for items shown here may
be found on pages 23 to 133 of the
August, 1927, "Survey"

March

April

PER CENT INCREASE (+) OR
DECREASE (— )

1926

July,

July,

from
June,

from
July,

1936

1927,

May

June

July

June

July

CUMULATIVE TOTAL
FROM JANUARY 1
THROUGH JULY 31

1927

1927,

1927

1926

Per ct.
increase
( )

or tdecrease
(-)
cumulative
1927
from
1926

BANKING AND FINANCE-Continued
Stoeks and Bonds— Continued
Long-term real-estate bonds issued:
Grand total
thous. of dolls..
Purpose of issue—
Finance construction thous. of dolls..
Real-estate mortgage... thous. of dolls..
Acquisitions and
improvements
thous. of dolls. _
Kind of structureOffice and other
commercial.
thous. of dolls
Hotels .
thous. of dolls. _
Apartments
thous. of dolls

46, 840

49,794

35, 520

68, 556

39,719

82, 985

69,408

-42.1

-42.8

389, 995

357, 187

-8. 4

11,900
11, 410

25, 912
13, 937

13, 740
9,165

36, 766
23, 960

12, 223
15,040

40,945
7,425

43, 660
18, 125

-66.8

-72.0
-17.0

220, 022
69, 828

154, 751
100, 622

-29. 7
+44.1

18, 790

1,470

1,975

2,790

4,575

13, 180

3,138

+64.0 +45.8

49, 385

50,963

+3.2

8,315
2,860
2,775

18, 177
11, 380
2,720

10, 070
600
3,430

26, 645
3,781
4,340

6,828
2,065
3,680

34, 295
16, 505
7,035

22, 640
29, 345
8,850

-74.4
-45. 4
-15.2

-69.8
-93.0
-58.4

170, 921
76, 983
50, 851

112, 038
25, 661
32, 552

-34.5
-66.7
-36.0

3 141, 365
3 2, 909

-0.7
—0 8

+0.1
— 1.1

392,031
3
1, 618
3 24. 10

+3.7
+0.3
-3.8

-3.7
-0.9
+10.1

3 368,
410
3
4 557

+0.5
+1.5

+12.7
+15.6

—37.2

Corporation Stockholders*
Pennsylvania Railroad Co.:
593
Domestic
- - number i 142,
Foreign
_
number. _ 1 2, 901
U. S. Steel Corp. common stock:
1
85, 529
Domestic _ ..
number
Foreign
number. _ 1 1, 599
Shares held bv brokers
per ct. of total-- 1 27. 59
American Telephone & Telegraph Co.:
Domestic
number.. i 412, 921
Foreign
number _ 1 5, 190

2 141, 558
2 2, 877
2 288, 665 -1, 604
2
26. 53
2

-

415,
024
2
5, 267

GOLD AND SILVER
Gold:
Domestic receipts at mint fine ounces..
Rand output
thous. of ounces..
Imports
thous. of dolls..
Exports
thous. of dolls..
Silver:
ProductionUnited States
. thous. offineo z _ _
Canada .
thous. offineoz__
Mexico.
.thous. of fine oz_.
Stocks, end of monthUnited States.
..thous. offineoz_.
Canada
thous. offineo z _ _
Imports
_
thous. of dolls..
Exports
thous. of dolls
Price at New York
.dolls, per fine oz__

|
73, 822
861
16, 382
5,625

68, 531
824
14, 503
2,592

66, 956
859
34, 212
8 2, 510

66, 411
855
14, 611
8 1, 840

91, 428

5,104
1,525
6,332

4,712
1,716
7,737

84,811
8 1, 393
7,791

8 4, 931
8 1, 614

212
1,023
4,308
6,077
.553

602
723
3,815
6,824
.564

231
602
5,083
6,026
.563

dolls, per £ sterling..
dolls, per franc..
.dolls, per lira..
dolls, per franc..
dolls, per guilder..
dolls, per krone-dolls, per franc..

4.85
.039
.045
1.39
.400
.268
.192

4.86
.039
.050
1.39
.400
.268
.192

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

.491
.363
.999
.960
.119
.120

+37.7 +10.6

514,319

513, 924

-0.1

-29.0
-2.0

-47.7
-64.4

142, 941
46, 806

171, 745
31, 674

+20.2
-32.3

+2.8
+8.6

+8.4
-34.3

35, 280
11, 776

34, 800 -32.3
11, 192 \ —5.0

821 +218.3
772 +78.7
5,949 -11.7
7,921 +21.5
.648
-0.7

+10.1
+9.7
-28.9
-16.5
-13.0

42, 936
57, 290

31,227
44, 606

68, 261
852
18, 890
3,346

82, 696
860
19, 820
8 5, 070

5,067
1,752

5,211
1,510
8,401

4,673
2,665
6,980

8284
474
4,790
5,444
.568

904
847
4,231
6,614
.564

392
546
5,628
7.978
'.655

4.86
.039
.054
1.39
.400
.268
.192

4.86
.039
.056
1.39
.401
.268
.192

4.86
.039
.055
1.39
.401
.268
.193

4.87
.029
.037
.030
.402
.268
.194

4.86
.025
.034
.024
.402
.268
.194

0.0
0.0
-1.8
0.0
0.0
0.0
+0.5

.484
.361

.471
.362

.467
.362

.471
.361

.469
.363

.471
.363

+0.9
-0.3

0.0
-0.6

1.001
.962
.118
.120

1.001
.962
.118
.120

.999
.964
.118
.120

.999
.966
.118
.120

1.001
.917
.155
.120

1.001
.921
.156
.121

0.0
+0.2
0.0
0.0

-0.2
+4.9
-24.4
-0.8

10, 373
1,803

-27.3
-22.1

FOREIGN EXCHANGE RATES
Europe:
England
France
Italy
Belgium
Netherlands
Sweden
Switzerland
Asia:
Japan
India
Am ericas:
Canada
Argentina
Brazil
Chile..

0.0

+56.0

|

+61.8

-0.2
0.0
-0.5

U. S. FOREIGN TRADE
Imports
Grand total
thous. of dolls.. 8378,331 8 375, 734 8346,501 8 354, 905 327,000 8 336, 251 338, 960
-7.9
-3.5 2,640,999 2, 450, 189
-7.2
By grand divisions:
EuropeTotal
thous. of dolls.. 8 8113, 507 8 107, 517 8 99, 724 100, 842
8 104, 765 8 95, 153
7 631, 539 7 614, 070
-2.8
France
thous. of dolls.. 14, 067
13, 454 8 11, 158
12, 908
8 10, 052 8 10, 189
7 69, 829
778,354 +12.2
Germany
thous. of dolls.. 8 16, 386
17, 817 8 14, 145
14,153
8 15, 137 8 15, 418
? 97, 197
791,615
-5.7
Italy
_.
thous. of dolls..
9,006
8,735
11, 061
8,499
7,924
7 47, 272
6,735
7 53, 025 +12. 2
United Kingdom
thous. of dolls.. 33, 860 8 27, 762
31, 469
31, 591 827,323
29,595
7 198, 166 7 169, 807 -14.3
North AmericaTotal...
_
thous. of dolls.. 8 90, 050 8 86, 436 885,976
89, 866
88 83, 921 8 78, 699
7 512, 020 7 504, 267
-1.5
Canada
thous. of dolls.. 38, 995 8 36, 135 8 39, 537
40, 609
37, 394 839,696
7 224, 642 7 224, 811
+0.1
South America—
Total
thous. of dolls.. 8 47, 328
46, 894 8 36, 637
40, 365
8 40, 384 8 41, 051
7 297, 129 7 260, 208 -12.4
Argentina..
thous. of dolls..
8,380
6,581
8,921
9,388
7 52, 091
7,365
85,088
7 47, 512
-8.8
Asia and Oceania—
Total
thous. of dolls.. 8 115, 659 8 125, 134 8 118, 893 115,358
8 99, 848 8117,336
7 798, 557 7 693, 116 -13.2
Japan
thous. of dolls.. 8 33, 866 8 31, 864
33,097
36, 035
8 24, 453 8 35, 528
7 177, 898 7 195, 314
+9.8.
9,752
Africa, total
thous. of dolls. _ 11, 878
5,272
8,474
7.332
6.721
7 62. 794
7 52. 528 -16. a
1
2
Quarter ending Mar. 31, 1927.
Quarter ending June 30, 1927.
• Quarter ending June 30, 1926.
7 Cumulative through June 30.
8 Revised.




48

TREND OF BUSINESS MOVEMENTS—Continued

The cumulatives shown are through
July, except where otherwise noted.
Earlier data for items shown here may
be found on pages 23 to 133 of the
August, 1927, "Survey"

March

April

PER CENT IN1 CREASE (+) OR
DECREASE ( — )

1936

1927

May

June

July

June

July

July,
1927,
i from
June,
I 1927

CUMULATIVE TOTAL
FROM JANUARY 1
THROUGH JULY 31

July,
1927,
from
July,
1926

1926

1927

Perct.
increase
(+)
or decrease
(-)
cumulative
1927
from
1926

U. S. FOEEIGN TBADE-Continued
Imports — Continued
By class of commodities:
Crude materials
thous. of dolls 8 151, 096 8 152, 906 8 135, 718 8 137, 522
Foodstuffs, crude, and
food animals
thous . of dolls. . 88 42, 979 8 43, 045 8 37, 163
39, 619
Manufactured foodstuffs... thous. of dolls..
46, 133 8 46, 876 8 39, 392 8 42, 172
Semimanufactures
thous. of dolls __ 8 64, 628 8 64, 537 8 63, 783 8 60, 385
Finished manufactures. ....thous. of dolls,. 8 73, 495 8 68, 370 8 70, 445 8 75, 208

i

120, 172
34, 269
35, 086
62, 409
67, 439

-12.6

-8.5

1, 118, 818

965, 291

-13.7

8 42, 189
8 29, 222
8 65, 687
8
70, 562

-13.5
-16.8
+3.4
-10.3

-18.8
+20.1
-5.0
-4.4

309, 228
242, 427
482,006
488, 520

283, 881
276, 421
433, 767
483, 204

-8.2
+ 14.0
-10.0
-1.1

8 338, 033 8 368, 317

-3.9

-6.9

2, 575, 171

2, 709, 527

+5.2

71,001,481 71,087,826
7 131, 269 7 101, 140
7 131, 534 7 210, 311
876,742
760,883
7 414, 687 7 415, 482

+8.6
-23.0
+59.9
-20.7
+0.2

s 122, 539 8 131, 299
8 42, 161
36, 025
8 64, 679
8 70, 847

Exports
Grand total, including
reexports
thous. of dolls . 8 408, 973
By grand division:
EuropeTotal
. thous. of dolls _ 8 187, 441
France
thous . of dolls . . 17, 289
Germany
thous. of dolls _ 8 36, 985
Italy
thous. of dolls.. 10, 317
United Kingdom
thous. of dolls
8 72, 791
North AmericaTotal
thous. of dolls 8 101, 062
Canada
thous. of dolls.. 8 65, 946
South AmericaTotal
thous. of dolls _ 8 38, 415
Argentina
thous. of dolls
12, 577
Asia and OceaniaTotal
.thous. of dolls.. 8 74, 056
Japan
thous. of dolls
28, 623
Africa, total
thous. of dolls.. 8 7, 999
Total domestic exports only
thous. of dolls.. 8 398, 246
By classes of commodities:
Crude materials
thous. of dolls 8 107, 411
Foodstuffs, crude, and
food animals
thous. of dolls
19, 978
Manufactured foodstuffs. . .thous. of dolls. _ 8 37, 188
8 57, 840
Semimanufactures
thous. of dolls
Finished manufactures
thous. of dolls. _ 8 175, 829
Agricultrual exports (quantities) :
139
All commodities
index number
All commodities except
cotton
index number
116

8 415, 377 8 393, 141 8 356, 968

343, 000

8 187, 598 8 172, 061
17, 069 8 18, 086
35,999 8 31, 367
9,599
8 8, 352
64, 671 8 61, 638

155, 328
14, 907
29,941
9,496
56, 103

8 144, 349 8 166, 049
14, 802
15,279
8 20, 154 8 20, 366
8 10, 601
12,201
8 62, 638
77,446

8 110, 551 8 120, 061
8 74, 459 8 83, 982

108, 072
74, 312

8 99, 302 8 101, 911
8 65, 001
66, 100

77 577, 668
353, 662

7 615, 050
7 403, 402

+6.5
+14.1

8 33, 947
12,388

31, 472
11, 389

37,299
11,464

7 211, 103
7 68, 993

7 220, 036
7 75, 541

+4.2
+9.5
+6.1
+5.5
+9.7
+5.3
+7.5

8 39, 623
813,306

30, 126
9,770

67,030 8 59, 203
54, 331
18, 550
20, 985
13, 698
7,764
7,869
10, 572
8 405, 001 8 382, 386 8 348, 548

337, 162

874,831

8 63, 348

55, 024

30, 684
31,514
25, 207
8 39, 192
36, 358
36, 933
8 59, 410 s 60, 959 8 62, 496
8 189, 061 8 178, 980 8 161, 138

21, 909
31, 283
63, 014
165, 931

8 85, 824

57, 490 8 54, 434 i
17, 805
16, 895
8,625 j
8 6, 767
8 328, 654 8 360, 452 i

7

369, 536 7 391, 980
7 120, 881 7 127, 527
7 47, 066
7 51, 640
2, 515, 038 2, 647, 596

-3.3

-6.5

872,006

-13.1

-23.6

569, 315

611, 758

33,908
8 21, 085
8 34, 227 8 35, 412
8 54, 971
53,135
8 155, 140 8 165, 990

-13.1
-14.0
+0.8
+3.0

-35.4
-11.7
+18.6
0.0

138, 330
272, 010
370, 065
1, 165, 317

172, 457
260, 492
418, 170
1, 184, 718

+24.7

-9. 6 | +3. 1
-24.6 -27.6

575, 550
673, 644

625, 227
649, 977

+8.6
-3.5

8 63, 229

128

108

89

71

82

140

135

118

104

126

91, 513
119,399

88, 605
111,595

-4.2
+13.0
+1.7

CANADIAN FOREIGN TRADE
Total trade:
Imports
Exports




thous. of dolls. _
thous. of dolls..
7

110,617
107, 218

74, 298
78, 404

94, 412 8 101,018
111,298 107, 201

Cumulative through Jane 30.

91, 369
80, 787

8

Revised.

PUBLICATIONS OF THE DEPARTMENT OF
Recent publications of the Department of>Commerce havitig the most direct interest to" readers :6f the SURVEY OF G
BUSINESS are lifted below. A complete list may be obtained by addressing the Mvisip|i^f PufcHcations;-Department of Commerce,
,at Washington. Copies of the publications may be purchased from the^uperintendent of Documents, Goyerainent, Printing
'Office^ Washington, at the prices stated. If no price is mentioned^ the publication is .distributed free.
\/ - ^
OFFICE OF THE SECRETARY
; Currency Systems of ihe ;Oriei1rt, by Elgin E., GrbsecloSe.
Trade Information Bulletin No. ,5Q4; ii+34
Radio Service Bulletin, July, 1927. 16 pages. -Published Special agent.
'Describes the coinage units and not^ issues of tile various
; monthly in the interest of radio service. >. Contains lists of radio phges:
Eastl, ^yice, 10^. .-\, * - > ,
stations and^ references .to .current radio literature. ^Singie> gauntriesbtjth^'^r
^ Markets foV fe|0|iared^ Medifciires, by Jfl." C. Bergiii. Trade
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-^
;^
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Remedy for Disappearing Game Pishes. Aoldress by Her- the,
market requirements,^"m.ethddsVo^.'distrlbuMpri, and sales
bert Hoover, Secretary of Commerce. , 12 pages. - This address ,-feguiations
for Repaired mediclties in Afferent countries .of the
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world. -Price, 10^; "^ ..• ;• ',-< '//« : ^ r ',\ h V ;
/'
League of America at Chicago, April 7, 1027.
:
> \ " \ . : . r BlIRBAIJ OP STANDARDS
-'> / - '
''" ; .
' BUREAU' OF THE 'CENSUS,'".' '
! " -;
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"-'
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J
4. pages.
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t The Catholic Apostolic Church.—This is the first^of a series
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f
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- ' " "" '
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, .
x: Census of Agriculture, 1925; Supplemental I>ata.—State
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% .
,
' , '
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BUREAU OF FOREIGN AND DOMESTIC COMMERCE Geophysical Union of the International -Aesearch Council.
- - " ^
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,. . - Commerce Yearbooic, 1^2S: Vol. I, Uiiiited States.
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Price,:$1.
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factor's in Wheat Marketing/ by Theodore D. Hanainatt.'tidal waters of Caliii+14 pages, 15 illustrations.. Shows the factors which gov- tJnitecL Statea on the coast and tributary
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Pacific C^ast of tile, ^nite'd St^te^: Buoy Lis;t, Oregon and
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Government Publications Relating to T0^tfle:s, eopipiled by
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' V - / ' , / ' - ," ' '
'Balance of Intcirnadonal Paymentfe of tJiiited States to 800; 93 -pages: 5 : V^
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CHIEF FUNCTIONS OF THE DEPARTMENT OF COMMERCE
HERBERT ^HOOVER,
Secretary^
of Commeto^
P
" , * ^
' ; "^ - s i
!
\
' •'
J, WALTER DRAKE, Assistant Secretary of Commerce

Research on helium and operation of plants producing it.
Studies in the econoniics and marketing of minerals and colexJtiOB of statistics on .mineral resources and mine accidents.
/The, dissemination^ of results "of technical; and economic
researches in bulletins, technical papers, 'mineral resources
miners' circulars, and miscellaneous publications.

AERONACWCS
j fc, ;Assfet4nti Secretary of Commerce
\> ,
: -'/<
*•
for Aeronautics * '"- , -f / \ V, >
Ejstabiistm^nt of <4vil airways an<i maintenance of aids^o $ir
navigation; inspection and registration of aircraft and licensing
of pilots; enforcement of air traffic rules; investigation of acei*
dents ; .encouragement of municipal air porfcsj fostering of , air
co^inerce; scientific ,reseMT<3&ia aesron&u&ej*; and dfesemination of information relating to commercial aeronautics. (Some
' of tji^se functions are peKfOpfced 'by special divisions of the
laghthouse Sefc^ce, tiie Bureau "of Sta^dards^ and the Coast
and Geodetic Survcfy.)
: '
>,
' ,

,

BUREAU
br* , < 'THE
X$tfSUS
" - '. ,
" *V
•*
'
'
*
IV

"' ^

'-','•''

r Wtw-iAM M. S^tfASTi pirecJot
>v
.. , Taking ^ns^uses.of fKJtpi^a^ii, inma^s of invitations, felines
and quarries,. foresVproductsV &sd Wjater .tlransportation f y^rj
10 yeara, cenfcuges $t agriculture aM^efe^rlc^ public utilities!
every 5 vear^, £rid a cepsui pi inabiif actutes every 2 ^rsv ; ",
Gotopfiattcm of ^ta^sties of wealthfc:p4J>ttc d^bt^nd taacation,
inctetling? fiia^cistl statistics Of loe^ |€3!V«rnmefits, eVery.10
years; ^nnuar eompHation
of fiflafi^ Ita^stics of State and;
f
,
statistics pf-,niarriage, divorce, birthsrde£$hs»r
and penal institutions annually, and of death rates in cities and
automobile accidentsi weeklv. / „;; , ,, ,
.
Com£>il#ti§ri quarterly .or in|&ntMy\pf^B^tis^
woOlj tote^co, leather, and otheXindo^fcr^es;: publication |n,the
Survey of Gurrent Bushiess of monithly commercial and
'-'*••*»-^

~

BUREAU OF tlSHEElES
HENKJ O*MALLE^, Commissioner
?
.
propagation and distribution of food fish and sbellfisl|,
in; order, to prevent the depletion of the fisheries; investigations
to promote conservation of fishery respurces; the , development of Commercial fisheries and agriculture; study .of fishery
methods, improvements In ^merchandising and collection bf
fishery statistics; administration of Alaska fisheries and fur
^se&lBj.arid t^te protection of sponges Off the coast of Florida*

BUREAU OF LIGHTHOUSES
GBOBGJB R, PI^NAM, Commissioner
T Maintenance bf lighthouses and other aids, to water navigation. Establishment and maintenance of
aids to navigation
x
along civil airways.
gtiblication of tight Lists, Buoy Lists, tod Notices to Mariners, giving information regarding these aids to navigation.

COAST AND (iEODETIC SURVM

E. LESTiBR JONES, Director
,
, ^Suryey of the coasts of the tlnited States and publication of
charts for the navigation of the adjacent waters, Including
, the Philippine Islands, Hawaii; Porto Rico, the Virgin
, and the Canal Zone; interior control surveys; magOF FOREIGN AND^ DOMESTIC COJ^ERCE
surveys; tide and current observations; and ^ismologicS
investigations.
,
\Pubhcation of results through charts, coast pilots, tide tables,
The collection of timely inf ormaMon 'concerning ^orld market < tijurretit
tables, and special publications.
;
conditions ^nd openings for American products ill foreign <5o»n*
trjes, through commercial .attaches, tt^de commissioners, and
BUREAU OF NAVIGATION
consular officers, and its distn;bution thi^tt^h weekly Gdmmerce
: D. B, CARSON, Gommissioner /
Reportsr ' bulletinsj; c^onfidential.cifcuiars, the news and tr$de V V *
pr^gg) and district and cOopetMiye offices i^ 33 cities,
^
. ,$o£erintendence of commercial ,marine and merchant seamen.
Ilie m^iietenancre;, Qf ^ommodi^y/ technfcal^^and regional ._ Supervision of registering, enrolling, licensing,, numbering,
to American
exporters %tod
efe.,- of ^vessels under the United States flag, and the annual
' divisions to afford' spfecial
''
^service
' v
'
,
,
'JubJScatioB of a list of such>esselsi
;
The .coloipilation and distribution, of , lists of possibfc
< Enforcement of the navigation and steamboat inspection
andAgents ffor American products ift;a?J parts of the ^orld a
j including imposition of fees, fines, tonnage taxes, e$c. ;
publicationtof weekly lists of specific sales opportunities abroad.
The publication of statistics,On^ imports xand exports.
STEAMBOAT INSPECTION SERVICE
The\study of the,processes pi domestic trade
N. HOOVER Supervising Inspector .General
BUREAU OF STANDARDS
e inspection of merchant vessels, including boilers, nulls,
d Hfe-saving equipment, licensing of officers of vessels, certiK. BuKOSfes, plrector t
^
ation of able seamen and lifeboat men, #and the investigation
v
* Custody, devolopment^ amd^ eomiru^on of standards ,of
of violations of steamboat inspection laws,
measurement, quaSty, peiformiaee, ,op praclac^; comparison
of standards used }by scientific or other toti^utions; determinaUNITED STATES PATENT OFFICE
tioti o| physical cot^si5ant& and prpper^fes vQf m^teriakj researches ,
THOMAS, E. ROBEETSON, Commissioner
and tests on niaterials and proeessjssjfand publication of Beien- ,
fhe granting of patents and the registration of trademarks,
tific and ijechnical Bulletins reporting rfesufts of researches
piiiits, and labels, after technical examination .and judicial^profundamental tte^tmieal data,
/
"
^
Preparation of specifications : for .Goveriimei^t
Maintenance of library with public search room, containing
through the Federal Specifications^ Board. . . ' ' '
Gollectito an«| dissemihaflQn of laformatibn concerning copies of foreign and United; States patents and trade-mar^s.
Recording bills of sale, alignments, etc., relating to patents
building^ codes and the^tanmng ^6d^0nstru<jtion of;houses.
Estabiisjiment of siinplifietl ^con^er^iaJi practices through and trade-marks. Furnishing copies of records pertaining to
/
cooperation with business organization^ >in order ;to .reduce the jpatents. ,
, ; Publication of the weekly Ofl^cial Gazette, showing the patwastes resulting from exGessive yariety ^a commodities. \
'
''
ent^ and trade-marks, issued.

RADJO DIVISION
Technical investigations in the, Jmining;, preparation
Mitilizatiori "of ^mlneials, including t]^e ^u^y /of mine Jxaaatds
and safety tnethods and of improved methods
jn the pr^*duction and use of minerals, •<*:
K ,:\
iesti^^ QoHrernnxent f uela aiid -management of the Governmenil?iiel Yard at




;

;;
W. B. TJ6JRHELI,, Chief
,,
;
Inspection of radio stations cm ships; inspection of radio s
on $hpre, including .broadcasting? stations; licensing radio
operators; assigning station call letters; enforcing the ^erms of
^t60 International Radiotelegraphic Convention; and.
in<i setting tnternational radio accounts.