Full text of Survey of Current Business : September 1927
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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 t copies, 5$; annXial subscription, 25^. -^ ;^ Promotion Series-NjO, 48; vi^TQ.page^^iJltt^irations. Shows* 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 was delivered by Secretary Hoover before the Izaak Walton world. -Price, 10^; "^ ..• ;• ',-< '//« : ^ r ',\ h V ; /' League of America at Chicago, April 7, 1027. : > \ " \ . : . r BlIRBAIJ OP STANDARDS -'> / - ' ''" ; . ' BUREAU' OF THE 'CENSUS,'".' ' ! " -; Transmission ojT Soimd ^TKroiagh Building Materials, k?y \ (for information^eencerning pkji of publication and distribution of census publt' ^ , »• cations; address the Director-of the Census) U ' V.,L. Chrislen . SdientifiQ Papervjfo. 552. N ^report on inyesti, Stocks x>f Leaf Tobacco, Bulletin 161.—Contains information gatiens regarding, :sound ^r^n^i^is^ipn, thtough^partitioa walls, ^concerning stocks ^of various types of leaf tobacco held |by of y^rlous Mnds'''t>f.cori^tructib'h'material.,, l^ice/ $fc , "-' 'dealers and certain^ glasses Of manufacturers, The .statistics v United Statia,Gofet»tneht Master Specifications. These include the manufacture of cigars, cigarettes, tobacco, and sjpecificati6ns for the purchase of material for.tfie' use of Govervnsnuff, and jcomparative data for previous years. Paper, T48 n are issued ,as ^ir^ulars :of ..th^e ;Bureau of , upages, 1 illustration, price, 10$, \ f , , ' , e listed vbelb^ by cireula,r .number may be/ Record Book of Business Statistics, Te*tUe Se^tloa^Baek- obtained ' ground of fact& for earlier years for comparison tvith.data pub1 ; JPaper,/48 y lislied in the monthly Survey of Current Business J 4. pages. pages, price 100. , ; ' ' t The Catholic Apostolic Church.—This is the first^of a series ,\<tf 4enomin^tional reports-to be issued in connection witl^ the , .. > 19^6 Census of \Re3igious Bodies, whic|i will Contain, inlorma^ lB^I Resources of tiqn .concerning history, doctrine, and- organization of the V Tte reports on; respective denominations. Pape>, 6 pages, price, 5£. \ .«, - mineral resources ^ , % - ( -* Pttlpwood Consumption and Wood-pulp Produjction.-^Annual of which the,, fallowing have-$een i-e^ased .since the August" .anft be obtained at reip.ort of thei forest^produets series, conipiled .in cooperation , annoimcenient 1 with the Forest Service of .the Department of Agriculture. ? Paper, ;13 pages, price 50. , Census of Maiiiifact«res, 1025: Industry Bulletins.-—These . , reports -present, statistics concerning, value of /products, value ., Aitter^an jDocnmeiited Seagoji^g1 Mercjtaiit Vessels of ,500" added by ^manufacture, ininiber 'of wage earners, etc,.: Motor vehicles, motor-vehicle, bodies, and motor-vehicle parts,, '22 *€rrosa,Tons wp& Over, July, ,1027. ii -4-66,, pages. .Published pages; Stoyes; ranges,, domestic heating apparatus, and steam monthly. 'Single copies, 10^.; annual subscription $1,25. fittings, 15 pages; Carriages, wagons, sleiglis, and ;sleds, and /materials, 15 pages; x' Fertilizers, 10 pages;, Chocolate'^ and cocoa products, t;onfe cfionery, ice cream,: and chewing gum," -5 Alaska fishery and Fur-^Seal Indastrfes |n 1924, by Ward T. ' 28 pages; Silk, man.ufaetures, 15tpages; ^Ship and IsOat^buildr Bower, s , (ApJeiidix J V" to the JElepori of the 0. S. Pommissipner of - Contains the ^j ing? 19 pages; Steam and electric railroad car^s and^ railroad Fisheries. |or 1$27, pp. 225-r|^15 ilijistfatiOns.-) f repair shops, 21 pages,; Canning a.ud preserving, 23 pages; .regulation^'governing fisheries^o'f Alaska; an account of fishing fileetrical machinery, apparatus, and supplies; 18 pages; En- 'and :.caimmg op^atioms; the , fur se^I industry of the Pribilof gines and. water wheels^ locomotives, and aircraft^ 17J pages. Islands, with a computation of ttte -se^l ixerd M August, 1926. - ' " "" ' ' Paper, price 5£ each. . -,. , . x: Census of Agriculture, 1925; Supplemental I>ata.—State 'AND '. bulletins presenting statistics concerning farm population disCatalogue of C^^ts, Coast Pilot^, ^ and tributed by age,' sex,, .color, and tenure, and supplemental .crop Tables .? 392; 16 pages, vot Phili^fce Islands.A Serial and livestock dataK by counties, Iowa, 33\ pages;;, Minnesot^ illustrations. % . , ' , ' , .30 pages;" Nebraska/33 ipages;, '"Kansas, 33 pages; Missouri, Cre^detic <^>eifations in HnU0d Stated, lanpait 1? 1924, to 35 pages; New Mexico, 13 pages; Idaho, 16 pages,; Montana, B£c«mber ^U"-1S2^ by ViHian> Bowie.-- Special Publication 19 pages; Colorado; 21 pages* Nevada,"8 pages; ^ Virginia, 33 ; ;.Jfi>/l134? ir4-,3t" 7 illustrations, 2, maps., , This is a ,report pages. Paper, prfoe 5^ each. ' . ^ :~ ^ .^ - to the Sections ,ofpages,Geodesy of tHe Int^rjbatioiial t Oeodetic and BUREAU OF FOREIGN AND DOMESTIC COMMERCE Geophysical Union of the International -Aesearch Council. - - " ^ - '-- • ,. . - Commerce Yearbooic, 1^2S: Vol. I, Uiiiited States. '• \pages, illustrated. ' .This Volume -contains detailed information (iJoast :^f % United States: ^noy £ist, California, • • / ;regar)ding business conditions in the United States during 1926. Price,:$1. , ^ :. -• , v ' " ; ,' ^ l " . r i Lighthouse Di«tnct, 1927>Xcprrected,to ^urie 15). : pages. I>escrifc^s vall aid]s to navigatiohr maintained , by the factor's in Wheat Marketing/ by Theodore D. Hanainatt.'tidal waters of Caliii+14 pages, 15 illustrations.. Shows the factors which gov- tJnitecL Statea on the coast and tributary fornia' and ^on; Lake Tahoe. >Pfige> /20^.< t . ." , } . ern prices in the principal, wheat producing countrie$. Pacific C^ast of tile, ^nite'd St^te^: Buoy Lis;t, Oregon and , Government Publications Relating to T0^tfle:s, eopipiled by Wikon C. Flake. ,43 pages. Listsv of publications Xnd brief .WashinVton^ l STeyent£enth Xi^htfijonse Diitrj^fe, 1^2T (corrected aJlf-' aidg" to nay iga,tioh, :accounts* of the,.activities; of the various Government bureaus. to June 26). ii-f72 pages: ^.Desari&esr Blortthly Summaryv of Foreign Commerce of jthe /United maintained by , ihe United Staites / on- theT. JCoast ,anej .tributary States, June, 1927. , Parts, 1 and II. Part I contains statistics waters ,oi Oregon* and Washin^gtonv ^l^ce, ?0^1 - v " of exports of domestic merchandise, and imports by articles .,for Jun^, 1926 'and 1927, and for 6 months ended June, 1926 " and 1,927. Part JI.contairiB summaries "of export aud. import. ' Laws --, Governing Stesimboiat:> tnfi^ejs^a Ser(^ce, Revised ; trade; monthly \averagq import and export pricey; statistics Statutes of United v^tsitos asr Modified by Act of Congress ." of tr^-de with Alasla, HJawaii, and Porto liico. >, Single copies, Approved Mareli4, 1^1^ Establishing Department of Commerce aid by CftBer Ac|s of Co^igress. Edition June 2£;4$25- Form \ . P^art I, IQfa ^Part II> 5^. Annual subscription, $1*25. , >•• ' V - / ' , / ' - ," ' ' 'Balance of Intcirnadonal Paymentfe of tJiiited States to 800; 93 -pages: 5 : V^ Pilot Rules for Certain Inland Waters of Atlantic and Pacific > 1926,7 by Ray, Hall, with'foreword ,by Herbert IJpover, Seeretar^r of, Commerce. Trade Information Bulletin No. 503; Coasts and c^rD&ist of <5»lf of Mexico. Fpr^ B94; ^3 pages, vessels . vi 4-53 pages,, 1 illustration. -THis is, a discussion of-fh6 factors illustrated. .T^ese regulations go ve^n the nay^tloji.of, ;United .States ;e3:crep$r:th0 Great which:. ,contribiite" to the formation of the international 6<n ,aM inland:: waters^ df.rthe, : v I^akes an4(th^ir tributaries. / - - . ; . ^/r\, ^V / ' \' ; „ ; balance'of payments £>f the United States. 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.