Full text of Survey of Current Business : September 1937
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SEPTEMBER 1937
SURVEY
OF
CURRENT BUSINESS
UNITED STATES
DEPARTMENT OF COMMERCE
BUREAU OF FOREIGN AND DOMESTIC COMMERCE
WASHINGTON
VOLUME
17
NUMBER 9
A Review of Economic Changes
during the elapsed period of 1937 is presented in the article on
page 12. The improvement this year has been substantial, but
the rate of increase has tended to slacken in recent months.
NATIONAL INCOME has been much larger than in 1936 and
this further gain in the dollar figures has meant an increase in
''rear' income. This expansion has reflected the sharp rise in
labor income, the gain in income from agriculture and other
business enterprises, and the rapid rise in dividend payments.
CASH FARM INCOME from marketings and Government
payments for the full year 1937 is estimated by the Department of
Agriculture at $9,000,000,000, an increase of 14 percent over
the total for 1936, and the largest income since 1929. Industrial
output for the first 8 months was about 15 percent larger than in
the corresponding period of 1936. The increase in freight-car
loadings was almost as large, while that for retail trade was
somewhat less.
OTHER FEATURES of the general business situation are summarized, and a table provides data on the extent of the gains
over 1932 and 1936. A special chart on page 4 affords a quick
comparison of six principal economic series for the 1929-37
period.
UNITED STATES DEPARTMENT OF COMMERCE
DANIEL C. ROPER, Secretary
BUREAU OF FOREIGN AND DOMESTIC COMMERCE
ALEXANDER V. DYE, Director
SURVEY OF
CURRENT BUSINESS
Prepared in the
DIVISION OF ECONOMIC RESEARCH
ROY G. BLAKEY, Chief
M. JOSEPH MEEHAN, Editor
Volume 17
Number 9
SEPTEMBER 1937
CONTENTS
SUMMARIES AND CHARTS
Page
Business indicators
..
2
Business situation summarized
3
Selected indicators of economic change, first 7 months of years
1929-37
4
Commodity prices
5
Domestic trade
6
Employment
7
Finance
8
Foreign trade
9
Real estate and construction
10
Transportation
11
SPECIAL ARTICLE
Trend of business
12
STATISTICAL DATA
New or revised series:
Table 36. Sales of new paid-for ordinary life insurance in the United
States, by geographic divisions, 1930-37
18, 19
Table 37. Sales of new paid-for ordinary life insurance in
Canada, 1930-37
19
Table 38. Radio advertising, cost of facilities, 1932-36
20
Weekly business statistics through August 28
21
STATISTICAL DATA—Continued
Monthly business statistics:
Business indexes
Commodity prices
Construction and real estate
Domestic trade
Employment conditions and wages
Finance
Foreign trade
Transportation and communications
Statistics on individual industries:
Chemicals and allied products
Electric power and gas
Foodstuffs and tobacco
Fuels and byproducts
Leather and products
Lumber and manufactures
Metals and manufactures:
Iron and steel
Machinery and apparatus
Nonferrous metals and products
Paper and printing
Rubber and products
Stone, clay, and glass products
Textile products
Transportation equipment
Canadian statistics
General index
Page
22
23
24
25
27
31
37
37
39
41
41
45
46
47
48
49
50
51
52
53
53
55
56
Inside back cover
Subscription price of the monthly and weekly issues of the SURVEY OF CURRENT BUSINESS is 31.50 a year. Single-copy price: Monthly, 10 cents; weekly, 5 cents.
Foreign subscriptions, 33. Price of the 1936 Supplement is 35 cents. Make remittances only to
Superintendent of Documents, Washington, D. C.
10570—37
1
1
SURVEY OF CURRENT BUSINESS
September 1937
Business Indicators
1923-25=100, except as noted
150
125
100 \
75
50
25
0 i
INDUSTRIAL PRODUCTION
Ac/justed
i i ii
ii
I II I I I I I I I
I I I
I I I I I I 1 I 1 I I 1 ! I I I I
FREIGHT CAR LOADINGS
125
100
LCL
75
(Adjusted)
i i
i i i i
II I I I I I I I I I I I I I I ! I
FACTORY EMPLOYMENT & PAYROLLS
125
100
75
50
Adjusted
1
1 I 1 I
1
1
25
0
i
i i
i
i i
1 ,,,
i I
CASH INCOME FROM FARM MARKETINGS
125
Adjusted *
V
i
I n , i, I
Adjusted
V
i
1 M M I
DEPARTMENT STORE SALES
#
FMPLOYMENT (Adjusted)
25
0
i
75
50
TOTAL (Ac/justed) *
i
50
25
0
*sf*\
125
100
50
25
0
RURAL SALES OF GENERAL MERCHANDISE
150
125
100
75
^
_
A /
-PAmOLLS (Unadjusted)
1
1
1
i i I I i 11 i i i i 11 i i i i I i i i i i I 11 i i i 111 i i
25
0
i
i I i
i
i i
CONSTRUCTION CONTRACTS AWARDED
TOTAL (Adjusted)
*
L/?fS/t?f/VTtAL (Adjusted) *
i 11 i 11 i i i i 11 i i i i 1 i i i i i 1 11 i i i 1 i i i i i
I I I i I I I I I II I | | 1 1 | i I | I I M I 1 M I I
WHOLESALE PRICES
125
100
75
50
25
0
ALL COMMODITIES?
TA/9M PRODUCTS
1
I 1 I
1 1
1
MM 1 I ! 1 1 1 1
II 1 1 1 ! II1 1 1 1 1 1 1 ! ! ! 1 1 1
BANK DEBITS OUTSIDE NEW YORK CITY
FEDERAL RESERVE MEMBER BANK LOANS
50
n T
i i i
1930
,., i ,I
i i i i
1935
1935
I,,,,, 1
1936
ADJUSTED FOR SEASONAL VARIATION
NOTE:
1
Indexes a r e based on d o l l a r
REVISED
11,, i, T
0 L I
I I I I
1930
1937
^ REPORTING MEMBER BANKS
f i g u r e s , except i n d u s t r i a l
production
I I
1935
1 9 2 9 - 3 1 = 100
I I | I I 1 || l I I I I II M I I I II I I II I I I i i i II I I
1935
1936
1937
1924-29=100,
freignt - car loadings, and f a c t o r y e m p l o y m e n t
D0 90}9^
SURVEY OF CURRENT BUSINESS
September 1937
Business Situation Summarized
output during August has held to a
ItheNDUSTRIAL
rather even pace, hut the weekly data indicate that
seasonally adjusted index for the month may be
below the July figure. Scheduled steel-mill activity
has decreased slightly from the high summer level attained late in July, following the reopening of the plants
closed by strikes, but for the month of August production was higher than in July. Automobile assemblies
declined as producers completed their runs of the 1937
models. Mill consumption of cotton continued to
decrease as backlogs of orders were reduced and new
buying was curtailed by the drop in raw-cotton prices.
Bituminous-coal output did not show the expected
seasonal increase. Electric-power production and
crude-oil output established new high weekly records
during August.
Aggregate industrial production in July declined
seasonally, the adjusted index of the Board of Governors
of the Federal Reserve System remaining unchanged at
114 (1923-25 = 100). Output of manufactures receded less than usual, owing to the increase in steelingot production, which accompanied the reopening of
mills closed by industrial disputes. There was a large
drop in wool consumption, a somewhat less severe reduction in mill takings of cotton, and a marked curtailment of activity at meat-packing plants. Automobile
production was down by about the usual seasonal
amount, while production in the leather and shoe-manufacturing industry increased as usual for this period.
The index of mineral production, seasonally adjusted,
dropped from 114 in June to 111 in July.
The slight declines in the number employed and in
pay rolls from June to July were the result of seasonal
influences. Factory employment advanced contraseasonally, the adjusted index advancing about 2 points
to 103.3 (1923-25 = 100). Factory pay rolls declined,
largely as a result of customary midsummer shutdowns, but were one-fourth larger than in July 1936.
Cash income from the marketings of agricultural
products increased in July much more than usual, the
seasonally adjusted index advancing 10 points to 94.5
(1924-29 = 100). Prices of some leading farm products
have receded in recent weeks, but on the basis of current
price and }deld prospects, the Department of Agriculture estimates that cash farm income (including Government payments) for the full year 1937 will be about oneseventh larger than the income of 1936.
Retail trade during July was maintained at approximately the level of June, after adjustment for the normal seasonal decline, but the margin of gain over a
year ago was smaller than in June. Freight traffic was
higher in July than in June, after seasonal adjustment,
but this gain was not maintained during the first 3
weeks of August.
MONTHLY BUSINESS INDEXES
Factory employment
and pay rolls
Industrial production
Unadjusted 1
Retail sales,
Foreign
value,
trade, value,
adjusted 2
adjusted a
Cash farm
income 3
MerchanTotal dise,
1. c. I.
Adjusted 2
H
of
Year and month
Freight-car
loadings
n
If
as
i*
M
192931=100 Monthly average, 1923-25=100
Monthly average, 1923-25=100
1929: July
1932: July
1933: July
1934: July
1935: July
1936:
July
August
September
October.
November
,_.
December
1937:
January
_
February
March
April
May
June
July
Monthly average, January through July:
1929
1933
1934
1935
1936
1937
120
56
96
73
83
120
55
97
71
83
118
63
90
84
85
124
58
100
76
86
125
57
102
74
87
116
65
91
84
85
106.9
61.1
76.1
83.4
85.0
107.1
40.2
51.7
61.4
66.5
108
49
66
62
59
106
68
70
65
63
109
65
126.0
60.7
71.3
75.5
97.0
121
32
43
48
52
119
27
48
43
59
144.0
63.4
70.4
70.5
83.9
124
27
21
27
35
105
106
107
111
115
114
105
106
107
110
115
114
102
104
110
115
115
111
108
108
109
110
114
121
109
110
92.8
93.4
93.8
94.4
96.2
98.6
80.2
83.5
83.6
89.0
90.7
95.2
76
76
75
77
82
83
66
67
67
66
67
69
91
no
111
115
121
101
99
102
105
112
117
114.7
111.9
123.6
127.1
122.6
131.0
54
51
55
57
52
57
65
62
70
64
61
76
94.4
86.7
89.1
102.1
93.7
117.8
59
62
59
57
58
112
117
122
122
122
115
113
113
118
122
124
123
114
111
105
111
118
105
117
117
1U
114
116
118
118
118
114
1H
115
116
117
118
118
114
115
109
115
128
115
116
114
111
98.8
99.7
100.9
101.6
102.2
101.4
103.3
90.7
95.8
101.1
104.9
105.2
102.9
101.3
80
82
83
84
80
78
80
67
68
69
69
69
67
68
106.7
103.7
126.2
121.2
127.1
124.4
119.5
57
67
67
75
81
79
80
74
87
86
82
86
93
89
103.3
89.3
109.5
101.6
97.8
101.5
102.2
124 112
74
77
82
86
89
88
99
101
118 112
Adjusted for number of working days.
122
74
83
88
101
117
1
104
104.2 109.6
54
65.9 43.2
62
83.1
63.6
61
84.5 68.8
69
88.8 78.1
78
100.5 100.3
- Adjusted for seasonal
104
66
56
66
63
64
68
variations.
109.8
54.2
69.3
85.5
95.7
106.4
Monthly
Monthly
average,
average,
1924-29=100 1926=100
100.0 111.5
96.5
35.5 40.5
64.5
58.5
78.5
68.9
58.5
72.5
74.8
56.0 63.5
79.4
84.0
75.0
89.0
104.0
88.5
86.0
88.0
74.5
77.6
76.0
77.5
78.5
80.5
81.6
81.6
81.5
82.4
84.2
75.5
59.5
70.5
69.0
68.0
71.5
87.5
75.0
70.5
81.5
89.0
78.0
84.5
94.5
85.9
86.3
87.8
88.0
87.4
87.2
87.9
90.9
114
117 136.7
126
43.1
18
31
39
58.7
49.7
34
45
44
69.6
54.1
45
52
30
77.8
54
50
60
89.2
64.8
63
71.6
68
86 100.7
3
From marketings of farm products.
95.6
62.6
73.7
79.6
79.8
87.2
SURVEY OF CURRENT BUSINESS
September 1937
SELECTED INDICATORS OF ECONOMIC CHANGE
FIRST 7 MONTHS OF YEARS
1929-1937
RELATIVES,
RELATIVES,
CASH FARM INCOME
INDUSTRIAL PRODUCTION
125
125
100
100
75
50
25
0
•
•
75
L.illl
50
mini
DEPARTMENT STORE SALES*
25
0
FACTORY EMPLOYMENT
125
125
100
1
75
III
1
III
50
25
0
CONSTRUCTION
CONTRACTS AWARDED
i
III 1
I
IN
III 1
100
75
50
25
0
FREIGHT CAR LOADINGS
150
150
125
125
100
100
75
50
25
0
1
75
•!
50
lo I D
1 III HI
25
'30.y "&• '33 > '35 '3b
P.O.
ADJUSTED FOR SEASONAL VARIATION
SURVEY OF CURRENT BUSINESS
September 1937
Commodity Prices
T
HE MOVEMENT of the Bureau of Labor Statistics' wholesale price index continues to be
dominated largely by the fluctuation in prices of
agricultural products. The main upward trend of the
past 15 months has been supported by advances of
both semimanufactures and finished products, while
the minor downward movements have been checked
by the continued rise in prices of finished products.
Put in another way, the dominant price factors have
been the ground swell of economic recovery and the
weather—the drought and poor harvest in 1936, the
abundant moisture and bountiful crops in 1937.
The weekly index of wholesale prices advanced with
few interruptions from 78 in May 1936 to 88 in April
1937 (1926 = 100). Since that date it has declined,
but the averages of the past 6 months have varied
little. For the year to date, prices have averaged
about 9 percent higher than that for the corresponding
period of 1936. The May 1936-April 1937 advance of
the combined index was influenced largely by the raw
material constituent index which in turn reflected in
important degree the rise in farm products. Since
April, the "latter index has declined substantially and
checked the advance of the combined index, with farm
products again pacing the movement. The index of
semimanufactures advanced gradually from June to
November 1936, then sharply to April 1937, and
subsequently declined substantially. The index of
finished products, on the other hand, has advanced
almost steadily with only minor interruptions from
June 1936 to August 1937.
With large harvests realized or in prospect, prices of
agricultural products—particularly of grains, cotton,
fruits, and vegetables—have declined sharply in recent
weeks. Textile products, chemicals and drugs, crude
rubber, building materials, and semimanufactures
generally have also declined. Running counter to these
recent downward movements have been the sharp
advances in prices of livestock, poultry and their
products, particularly meats. There have been substantial advances also in prices of steel scrap, tin, lead,
house furnishings, and clothing.
The cost of living index of the National Industrial
Conference Board was the same for July as for June,
this being the first month since October that the index
did not advance. The rise in the Fairchild retail
price index of department store articles for July was the
smallest for any month this year.
INDEXES OF COMMODITY PRICES
So
/:
s£
£j ©
TS
1
ig (Nat
nferenc
ictal
1}
Is
rt
&
rugs
i
l!
-2
•o
-£
rt
t'
•o
S
rt
3
OB
©
1
Tex tile product
I
If
Hid
if
j
1 and lighti
££
Far m product*
I!
Fin
Year and month
limanufact
Z
3
Groups and subgroups
!
Bui Iding matei
Economic classes
** ©
.2r©
__.
99. 1 93. 4, 107. 6 102. 2
54.7 55. 5 47. 9 36. 7
61.8 69. 1 60. 1 73. 4
68.3
64. 5 74.8
75. 8 ri 8 77.1 78.3
96. 5
64.5
68.9
74.8
79.4
95. 6,
70.5
72.2
78.2
82.0
80.5
81.6
81.6
81.5
82.4
84.2
81.6 79.8
82.4 81.5
82. 3 81.8
82.0 82.1
82.6 83.1
83.8 85.6
85. 9
86.3
87.8
88.0
87.4
87.2
84.9
85.4
86.4
87.4
87. 5
87.7
88.8
95.6
62.6
73.7
79.6
79.8
87.2
94.9
67.5
77.4
81.8
81.5
86.9
1
©
EM
5f
•a
©
p
Dec.
Mo.
Mo.
Mo.
1930
average, average, average, (Jan. 1,
1923= 1909-14 1923-25 1931) =
100
= 100
= 100
100
147
106. 5
100. 3
63
74."6
68.3
77. 5
83
76.1
71.0
75.7
87
87.9
73.6
79.3
102
85.2
80.2
82.4
91.7
69.7
72.2
78.4
78.0
95.1
69. 7
79. 5
87.0
85. 2
93.3
73.0
73.2
75.4
78. 7
83.3|109.1
72.3 68. 6
65. 3 86.3
73. 9 86. 3
74. 7 89. 3
94.3 101.0
74.0 79.2
74.8 80.6
81. 6 86.8
80.4 86.4
89.6
51. 5
68. 0
71.5
70.2
82.8
64. 3
64.0
69. 9
67.7
84.9
86.4
87.3
84.4
85. 2
87.2
79.5
79.7
79.6
80. 1
81.0
82.2
86.7
86.9
87. 1
87.3
87.7
89.5
79.4
79.8
81.7
82.2
82.5
85.3
76.2
76.3
76.1
76. 8
76.8
76. 5
93. 4
93. 6
94.6
95.6
97.0
99.7
81.2
81.4
81.7
82.0
82.3
83.2
86.9
87. 1
86.8
86.9
87.9
89.6
70. 5
70. 9
70.9
71.6
73.5
76.3
71.0
71. 5
71.3
71.5
73.4
74.5
85.2
85.6
85.9
85.7
85.8
86.1
115
124
124
121
120
126
84.0
84.0
84.3
82.8
82.5
82.9
88.1
88.5
89.3
90.0
90.8
91.7
91.3
93. 3
85.5 95. 9
86.5 96. 7
80. 3 97.2
86. 1 96. 9
86.3 96.7
87.7
87.8
87.5
86. 9
84.5
83. 6
83.9
76.6 L01.7
76. 8 102.7
76.2 104.2
76. 8 106. 3
77. 2 100. 7
77.5 106.4
78.1 106.7
86.5
87.9
88.4
89.0
89. 3
89. 5
89.7
90.9
91.7
96.0
96. 5
95. 8
95.9
96.1
77. 5
11.5
78.3
79. 5
78. 7
78.2
73.3
76.2
7.3
79.5
81. 1
80.5
79.4
79.0
86.9
87.2
87.9
88.3
88.8
88.9
88.9
131
127
128
130
128
124
125
84.6
84.5
85.4
85.6
8() 5
86.2
85.9
93.0
93.7
94.5
95.2
95. 6
96.0
96.3
91.9
67.4
78.5
77.6
79.0
85.5
94.6
72.2
75.4
80.4
79.1
86.0
83.1
63.0
72.5
73.3
76.0
77.0
94. 1 101.2
72.7 78.2
81.5 87.3
80.7 86.2
81.4 86. 6
88.6 94.7
91.3
55.9
74. 7
69. 8
70.5
78.3
82.4
60.1,
69.2
69.1
69. 0
79.0
99.5
72.9
78.7
82.2
84.0
88.1
145
64
83
107
107
128
102.8
63.0
72.6
80.2
81.3
85. 5
71.3
88.8
86.1
88.1
94.9
81.4
83. 1
83.3
82. 6
83.9
85. 5
88. 1
88.3
90. 1
88.7
87. 1
86.1
85.4
85.5
89. 6
89. 5
87. 5
86.8
87.0
113.0
111.5
113.2
119. 2
113.9
105. 7
105.2
87.1 90. 6
87.0 90.3
87.5 92.0
85.5 i 94.9
84. 2| 95. 9
84.7 98.0
80.2 10(5.0
52.8
66.0
76.8
77.8
87.8
94.1 105. 2 96.4 99.0 109.7
60.4 47.8 47. 1 58. 0 50.9
73.5 61.2, 65.6 67.4 57.4
72.5 78. 8| 83.6 82.6 91.5
74.5 78. o; 77.0 80.9 89.0
87.3 90.9 111.7 1 86.0 95.4
Middle of month.
Ijl I|
116. 7
62.0
50.8
63. 4
93. 3
88.9
102.4
102.0
102.1
102.9
109. 0
January
§
102.9
60.9
65. 5
70.6
82. 1
75. 2 81.3
75.6 83. 8
75.9 84.0
76.2 84.0
78.6 85.1
82.3| I 88. 5
91.3
91.4
94.1
92.2
89. 8
88.5
89.3
if
&•£+«
£ fi S
Monthly average, 1926=100
1929: July
1932: July
1933: July
1934: July
1935: July
1936:
July
August
September
October
November-.
December
1937:
January
February..
March
April
May
June
July
Monthly
average,
through July:
1929
1933
1934
1935
1936
1937
Retail
•»»< -4—
Wholesale Prices (U. S. Department of Labor)
83.4
84. ]
2
95.7
72.3
86.9
85.0
85.8
95.4
108.9
74.3
88.3
87.2
94.8
105. 0
Index is as of the 1st of the following month.
SURVEY OF CURRENT BUSINESS
September 1937
Domestic Trade
ETAIL trade generally has been well maintained
R
during the summer, after allowance for seasonal
influences, although sales in some lines of business have
relative gain was recorded for jewelry stores which
showed an increase of nearly one-fourth for the 7-month
period. This was followed by gains of 19 percent for
been reduced somewhat more than usual. Consumer lumber and building material dealers, 13 percent each
purchases of general merchandise continue to run ahead for furniture and household appliance dealers and for
of last year. Available data indicate that the gain in hardware stores, and 11 percent for department stores.
sales in July over July of last year for both urban and The smallest increases, 5 percent and 7 percent, respecrural areas was around 5 percent.
tively, were reported by motor-vehicle dealers and drug
Department store sales this year have increased most stores, while restaurants, country general, and apparel
in the mid western industrial districts where the average stores showed increases of about 9 percent each.
gain for the first 7 months was about 14 percent; in
Wholesale sales reported to the Bureau by a sample
the Far West and in the south the gain ran 10 percent group of more than 1,100 firms were about 5 percent
or less, while in the eastern sections of the country the less in July than in June, while the margin of gain for
average increase was about 6 percent.
the month over the corresponding period a year ago
General merchandise sales in rural areas for July, was 4 percent. In June, sales of reporting concerns
seasonally corrected, were the lowest since February, were 15 percent ahead of the corresponding month of
the decline from June to July being somewhat more 1936. Aggregate dollar sales of more than 500 manuthan the usual seasonal amount. Automobile sales in facturers also recorded a smaller gain over a year ago
Juty declined less than usual for this period and were in July than in June. June sales were 12 percent
slightly larger than in the corresponding month last above June last year, while July sales showed a gain
year, after having dropped below the level of a year of 8 percent.
ago in June.
Favorable industrial and marketing conditions this
Total sales of more than 7,000 independent retail year have been reflected in a continued decrease in the
merchants in 14 States located in the midwestern, number of commercial failures. For the first 7 months
southwestern, and mountain regions of the country of the current year the number of failures amounted to
showed an increase of about 9 percent for the first 7 5,260, almost 12 percent below the corresponding period
months of the year over the same period of 1936, in 1936, while the liabilities involved were more than
according to monthly reports received by the Bureau 35 percent less. Failures of retail trade establishments
of Foreign and Domestic Commerce. The largest showed the largest percentage decline.
DOMESTIC TRADE STATISTICS
Wholesale
trade
Retail trade
Chain -store sales
Com- Variety stores
Stocks 3
bined
Unad- Adindex Unad- Adjust- just- (Chain just- j u s t ed
ed a Store Age) ed * ed 2
Department stores
Tear and month
Sales
Unad- Adjust- justed 1 ed »
M o n t h l y average, 1923-25=100
192Q19321933:
1934:
1935:
1936:
Tulv
July
July . . July
July...
_..
July
August
September
October
_ _ _»
November
December
1937:
January
February
March
April
May
June
_
July
Monthly average, January through
July:
1929
1933
1934
1935
1936
1937
1
Avg. same
mo. 192931 = 100
Rural sales of New passengeneral mer- ger-car sales
chandise
Unad- Ad- Unad- Adjust- j u s t - just- j u s t ed 2
ed i
ed^
ed 2
Employ-
ment
Pay
rolls
M o n t h l y average, 1929=100
Monthly average, 1929-31=100
Commercial
failures
Failures
Liabilities
Number
Thousands
of dolls.
1,375
870
902
22, 980
16, 555
16, 523
79
46
48
51
55
109
65
69
73
80
92
59
56
59
57
99
64
60
64
61
82.8
87.1
92.5
96.4
96.0
70.2
74.4
79.7
82.0
107.9
78.9
85.6
89.5
92.1
97.0
46.7
54.9
58. 2
74.7
126.0
60.7
71.3
75.5
97.0
168.0
31.0
57.5
73.9
89.1
152.0
28.0
52.5
67.0
81.0
100.4
75.2
75.1
82.2
82.1
63
68
94
100
105
161
91
86
88
90
94
92
59
65
71
76
80
67
64
67
68
69
71
71
109.6
109.0
110.0
109.5
111.0
113.0
97.2
86.5
97.8
100.4
104.5
195.7
109.2
97.7
102.4
98.9
103.0
106.1
88.3
96.2
122.3
155.1
150.8
186.1
114.7
111.9
123.6
127.1
122.6
131.0
117.3
92.9
71.0
56.5
113.1
130.4
104.5
92.0
83.0
85.5
151. 0
175.0
85.4
86.3
88.0
89.0
89.7
91.0
69. G
69.7
70.5
71.5
73 1
72.8
639
655
586
611
688
692
9,004
8,271
9 819
8 266
11 532
12, 288
72
76
90
89
95
90
65
93
95
93
93
93
93
94
66
72
78
79
78
73
69
74
76
76
76
76
75
74
106.4
110.0
108.6
110.0
112.0
114.0
1U.5
70.3
81.3
97.1
89.0
98.3
100.7
97.2
94.4
97.4
103.3
96.2
98.3
105. 9
88.6
93.8
117.4
116.4
119.4
117.5
92.0
106.7
103.7
126.2
121.2
127.1
124.4
119.5
90.1
85.5
146.5
141.3
144.6
134.3
123.5
129.5
139.5
123.5
102.5
104.0
99.0
105.0
90.7
92.0
92.1
91.9
90.8
90.3
89.9
72.6
74.1
75.0
75.4
76.1
76.2
76.6
811
721
820
786
834
670
618
8,661
9 771
10 922
8 906
8,364
8,191
7,766
80.9
91.0
94.8
102.8
110.8
94.3
71.6
81.3
81.2
87.1
90.6
98 3
72.9
81.9
83.2
85.2
89.2
98 2
54 6
62.2
64 6
68.0
75.1
1 984
1,032
996
850
751
47 605
21, 516
15 070
13 868
8. 940
98
56
66
68
75
82
Adjusted for number of working days.
97
55
64
62
63
2
109.0
109.8
54.2
69.3
85 5
95.7
106.4
Adjusted for seasonal variations.
165. 7
45.2
65.9
90.5
112.9
m?
!
100.5
61.9
55.5
63.8
64.6
End of month.
SURVEY OF CURRENT BUSINESS
September 1937
Employment
MPLOYMENTreceded slightly in July in the manE
ufacturing and nonmanufacturing industries from
which reports are received each month by the Bureau
of Labor Statistics. Pay rolls were also slightly lower,
reflecting in large part inventory-taking, repairs, vacations, and July 4th shut-downs. Despite the slight
declines, it is estimated on the basis of reports received
from about 135,000 establishments that the gain in
employment in July over the same month a year ago
approximated 1,300,000 workers. Over the same
interval, weekly pay rolls increased nearly $65,000,000.
The small decline in total employment in July in the
89 manufacturing and 16 nonmanufacturing industries
was due largely to the seasonal recession in retail trade
establishments. In the manufacturing industries, a
gain in the number at work was reported, partly because
of resumption of operations in the steel plants which
had been closed on account of industrial disputes. This
gain, plus others reported, lifted the seasonally adjusted
index of factory employment nearly 2 points to 103.3
(1923-25 = 100). This was the highest figure recorded
since November 1929.
Gains in employment were registered in both the
durable and nondurable goods industries in July as
compared with June, the index of the former group
advancing 2.7 percent, and of the latter, 1.1 percent, on
a seasonally adjusted basis. Only 4 of the 14 major
groups into which these manufacturing industries are
classified showed employment declines in July, after
seasonal adjustment.
Among the more important individual industries, the
largest increase (13 percent) recorded in the seasonally
adjusted indexes for July was for blast furnaces, steel
works, and rolling mills. In the radio and phonograph
industry the increase in the number at work amounted
to nearly 12 percent. In the textile industries, the
decline in employment was less than seasonal, the
reduction in the rate of operations in certain lines,
particularly in wearing apparel, being reflected in the
shortening of hours, and a resultant drop in pay rolls.
The major declines, after allowance for the usual
seasonal shifts, were in the leather, rubber tire and tube,
paper and pulp, and furniture industries.
In the 16 nonmanufacturing industries surveyed the
large decline in employment in retail trade establishments reflected the seasonal slackening of business in
department, variety, and general merchandising stores
and in mail order houses. Other nonmanufacturing
industries reporting declines in the number at work in
July, as compared with June, included anthracite
mines and dyeing and cleaning establishments, and
these recessions were also largely on account of seasonal
fluctuations. Increases were reported for the building
industry and for metal mines, the gain in the latter
raising the July employment above that of any month
since June 1930.
STATISTICS OF EMPLOYMENT, PAY ROLLS, AND WAGES
j Factory employment
I
and pay rolls
Nonmanufacturing employment and pay rolls
(U. S. Department of Labor)
Electric light Telephone
TradeAnthracite
and power
union
Bituminous
Pay
and teleEmployment
Retail trade memmining
and manucoal
mining
graph
rolls
factured gas
bers emTear and month
ployed
EmEmEmEmEmUnad- Ad- Unad- ployPay
ploy- Pay ploy- Pay ploy- Pay ploy- Pay
justed | justed^ justed ment
rolls ment rolls ment rolls ment rolls ment rolls
Percent
Monthly average,
Monthly average, 1929 = 100
of total
1923-25=100
members
1929: July
1932: July
1933: July
1934: July
1935: July
1936:
July
August
September
October
November
December
1937:
January
[
105.9
60.4
j
74.9
!
82.5
83.5
\
1
Dollars
Common
labor
rates
(road
building)
Cents
per
hour
106.9
61.1
76.1
83.4
85.0
107.1
40.2
51.7
61.4
66.5
83.2
44.5
43.8
53.6
49.4
64.7
34.5
38.2
42.3
37.5
94.1
58. 6
63.2
77.0
70.0
85.6
24.4
33.6
49.7
35.9
103.2
82.3
77. 5
85.0
84.8
102.3
78.7
70.0
81.1
81.5
102.6
79.1
68.5
71.0
70.3
104.1
79.6
66.7
72.3
75.7
97.3
73.1
71.0
79.0
79.3
98.8
59.2
51.0
60.1
60.5
28. 41
15.36
19.34
19.90
21.85
0.587
.490
.456
.588
.600
39
32
34
42
42
92.8
93.4
93.8
94.4
96.2
80.2
83.5
83.6
89.0
90.7
95.2
48.4
41.1
47.6
49.9
51.5
54.8
37.2
31.4
34.9
48.5
40.3
55.4
75.5
76.9
78.2
81.1
82.3
83.9
62.6
65.4
71.0
79.2
80.7
85.0
91.7
93.1
93.5
94.0
93.5
93.2
89.8
89.8
91.4
92.7
91.8
93.8
73.1
73.6
73.7
73.8
73.7
73.6
79.9
81.2
78.8
83.1
81.6
82.4
83.2
82.4
86.8
88.7
90.1
65.1
64.4
66.6
68.3
70.1
75.9
24.20
24.76
25.18
25.51
25.98
26. 63
.617
.619
.619
.610
.624
.637
42
41
42
42
41
90.7
95.8
101.1
104.9
105.2
102.4
101.3
54.1
52.7
48.9
54.0
51.0
51.1
45.0
42.7
41.0
37.8
63.9
44.4
50.9
35.2
84.6
84.8
85.9
72.6
77.8
78.1
77.7
79.9
82.4
88.4
54.4
67.8
73.0
67.9
92.1
92.0
92.2
92.9
94.4
96.4
97.7
92.3
93.3
94.5
95.2
97.6
100.1
101.1
74.4
74.8
75.4
76.6
77.7
78.5
79.7
83.6
82.2
87.2
86.3
89.5
88.5
92.4
85.4
85.2
88.5
88.8
89.9
90.4
87.6
68.0
67.9
70.5
71.9
73.5
74.4
72.7
26.11
26.68
27.50
28.03
28.36
28. 39
27.84
.638
.642
.659
.685
.689
.707
.710
39
109.6
43.2
63.6
68.8
78.1
100.4
49.1
61.1
55.9
53.9
51.0
92.3
41.2
61.8
51.9
48.3
45.1
100.9
65.2
76.0
77.2
77.9
80.2
98.3
31.5
53.6
55.4
66.9
73.4
77.2
82.8
83.1
88.3
94.0
96.3
70.8
76.7
79.4
86.6
96.3
98.3
71.7
70.3
70.1
71.1
76.7
98.3
69.3
70.2
74.1
77.2
87. 1
97.5
71.6
81.1
80.9
83.0
88.0
97.5
51.7
60.3
61.0
64.3
71.3
28.72
16.75
20.21
21.79
23. 94
27.56
.588
.458
.573
.597
.613
.676
j
_
_
February.
March
April
May
June
July
Monthly average,
January through
July:
1929
1933
1934
1935
1936
1937
Wages
Factory
(National Industrial Conference
Board)
Average Average
weekly
hourly
earnings earnings
91.2
93.5
95.5
96.7
96.9
98.1
96.5
99.0
101.1
102.1
102.3
101.1
101.7
99.7
100.9
101.6
102.2
101.4
103.3
104.2
65.9
83.1
84.5
88.8
100. 5
Adjusted for seasonal variations.
8
SURVEY OF CURRENT BUSINESS
September 1937
Finance
TOCK PRICES fluctuated within narrow limits in
S
a dull market during the first half of August at the
level attained in July, and then turned downward.
The volume of trading during the month was below
the level of July and considerably below that of a year
ago. Bond prices remained firm until the middle of
August and weakened thereafter, with the volume of
sales lower than in either the preceding month or in the
corresponding period of 1936. New capital raised
through publicly-offered issues was again very small,
and money rates were unchanged at prevailing low
levels.
On August 20, the Board of Governors of the Federal
Reserve System approved reductions in the discount
rates of the Reserve Banks of Chicago and Atlanta
from 2 to IK percent. Similar changes for the Minneapolis, Richmond, Dallas, St. Louis, and Boston banks
were subsequently approved, and the New York rate
was lowered to 1 percent. The Board based its
approval of these changes upon the view that the
reduction of discount rates at this time "would assist in
carrying out the system's policy of monetary ease and
make Federal Reserve Bank credit readily available to
member banks for the accommodation of commerce,
business, and agriculture, without encouraging member
banks to borrow outside of their districts or to liquidate
their portfolios in order to be in a position to meet the
needs of present or prospective borrowers". These
developments grew out of the sustained increase in business loans by banks, the persistent liquidation of
Government securities in bank portfolios, and the reduction in the excess reserves of member banks to the
lowest levels in several years. The action by the Board
was based also upon the view that reductions in discount
rates in agricultural districts should assist member
banks in meeting seasonal demands for currency and
credit during the crop-moving season.
Gold imports into the United States continued in
substantial volume during August. Engagements for
American account in London were resumed in late July
with the fall in the effective London price for gold to a
point which made shipments to this country again profitable. The persistent strength of sterling exchange
during August was accompanied by a continued fall in
the sterling price of gold, with the result that engagements for American account were possible at narrow
profit margins throughout most of the month. Receipts
of gold from the Union of Socialist Soviet Republics in
the London market were again reported. Japan, from
which approximately $92,000,000 of gold was received
during the period March-July, was again a principal
source of gold imports in August. Shipments continued to arrive from Canada and India, and sizeable
engagements in Belgium were also reported.
The French franc moved within very narrow limits
during August following the intervention of the French
stabilization fund in the forward market for francs.
The reduction in the discount rate of the Bank of
France from 5 percent to 4 percent on August 4 signified
the easing of the financial and exchange crisis in France.
Quotations for the Chinese yuan and the Japanese yen
were strong during the month in spite of the disturbances in the Far Eastern area, although Japanese dollar
bonds fell abruptly on the New York market.
FINANCIAL STATISTICS
Federal
Reserve
bank
Money
credit Monetary in ciroutgold culastand- stocks
tion
ing,
end of
month
Year and month
Reporting member banks, Wednesday,
closest to end of month
Excess
Bank
reserves
Deposits
Loans
debits,
of
outside
Com'l,
member
New
Indus- Invest- Debanks,
York
end of
trial, ments mand,
City
Time
month Total and agadjusted
ricultural i
of
1926 = 100 Dollars Thous.
dollars
Millions of dollars
1929:
1932:
1933:
1934:
1935:
1936:
1937:
July
July.
July
July
July
July
August...
September
October
November
December
January
February
March
April.._
May
June
July
_
_
_._
_
Stock
prices Bond Security
(stand- prices issues
ard
(do(new
statis- mestic) capital)
tics)
™ , '
Dollars
5, 549
700
8, 36'
10,603
12, 034 14, 850
6,712
5,612
4, 94S
5,004
4,856
28,416
12,511
13,878
13,910
16, 550
207.3
35.2
79.8
71.4
96.40
79.25
88.03
92.00
94.12
887, 803
105,381
117,693
213,608
127,127
2.91
1.31
1.05
1. 21
1.30
8,294
8,454
8,753
8,721
8,812
9,189
14,084
13,809
13, 929
13, 796
13, 647
13, 742
14, 850
14, 867
15,116
15, 340
15,464
15, 571
5,015
5,032
5,063
5, 065
5,037
5, 067
18, 617
17,106
17, 586
20,142
18, 475
23, 238
109.2
113.0
114.1
118.7
124.2
122.8
98.19
98.81
99.27
99.41
100. 55
100. 76
103,165
218, 074
179, 487
189, 512
158,071
265. 850
1.58
1.64
1.67
1.70
1.98
2.03
8,941
9,121
9,366
9,428
9, 571
9,760
9,784
13, 638
13, 597
12, 907
12, 774
4, 270 12, 587
4,331 12, 530
4,425 12,499
15, 493
15, 501
15, 126
15, 388
15, 274
15, 187
15,033
5,077
5,167
5,144
5,158
5,231
5,235
5,268
20, 383
17, 620
21, 605
20, 051
19, 292
20, 019
20,152
126.0
129.5
129.9
124.5
116.3
113.6
117.8
100.05
99.83
96. 86
96.27
96.79
95.84
96.82
248, 526
168,188
184, 594
151,810
149, 747
359, 208
250,249
2.04
2.04
2.04
2.05
2.09
2.09
2.12
1,347
2, 439
2,209
2,462
2, 465
4,048
3, 654
4,032
7, 893
9,128
4,477
5, 464
5,388
5, 350
5,550
259
468
1,875
2,513
17, 058
10, 996
9,064
8,355
7,811
2,462
2,471
2,473
2,476
2, 453
2,500
10,629
10, 674
10, 764
10, 983
11,116
11, 220
6,203
6,191
6,258
6,321
6,401
6, 563
3,029
1,950
1,840
2,175
2,236
1, 984
2,497
2,465
2,458
2, 565
2, 585
2,562
2,574
11,310
11, 399
11, 502
11, 686
11,901
12,189
12,404
6,400
6, 369
6, 391
6. 397
6,426
6,435
6,475
2,152
2,078
1, 398
1, 594
918
865
791
i This item was first reported in May. See footnote marked "<g>" on p . 32 of this issue.
I
rates
c o m>
-
Percent
6
2*4-2%
u
H
U
•K-i
l
l
i
l
9
SURVEY OF CURRENT BUSINESS
September 1937
Foreign Trade
XPORTS were fractionally higher in value in July
E
than in June and were almost half again as large
as a year ago. General imports declined 7 per-
the gains have been less pronounced than for the
commodities mentioned above. Animal and vegetable
products, edible and inedible, in the aggregate have
cent in value and were slightly more than a third shown, so far, little tendency to expand.
greater in value than in July 1936. The net balance
Import gains in July over those of a year ago conof merchandise exports, which amounted to $1,836,- tinued to be general throughout the entire list of im000 in July, compares with an import balance of ported commodities. Large increases in value have
$20,555,000 in June 1937 and one of $14,666,000 in occurred in those raw materials which are essential to
July 1936.
expanding industrial activity, such as rubber, wool, tin,
Merchandise imports are customarily more nearly copper, and hides and skins. A number of agricultural
in balance with merchandise exports during the spring commodities, particularly corn, vegetable oils, and oil
and summer months than in the latter part of the year seeds have continued to be imported in relatively large
when the seasonal movement of exports becomes large. quantities, principally as a result of the drought situaFor several years, owing in part to drought conditions tion which prevailed last year.
and the relatively high level of industrial activity in the
A considerable part of the increased values this year
United States, imports were greatly stimulated, and as compared with last is attributable to higher prices.
in the first 7 months of 1937 merchandise imports The average unit value (price) of exports was approxiexceeded exports by $144,819,000.
mately 10 percent gerater in July than a year ago,
The July improvement in exports over a year ago while the average unit value of imports rose about
continued to reflect the strong demand abroad for our 17 percent between these two periods.
semifinished and finished manufactures, particularly
The relative gains in import values over a year ago
petroleum products, iron and steel products, machinery, were greater than the gains in export values in each of
and automobiles. In July the value of exports of iron the first 6 months of 1937. In July, however, the
and steel products as a group (including scrap) was export increase was much larger. The relative improvegreater than in any month since the World War period, ment in import values over the corresponding months
not excluding the year 1929.
of 1936 has fluctuated considerably from month to
Exports of wood and paper, chemicals, grains, and month and has not shown the same definite upward
a number of other commodities have also increased, but trend exhibited by exports.
EXPORTS AND IMPORTS
Tear and month
1929: July
1932: July
1933: July
1934: July
1935: July
1936:
July
—
August.
_..
September
October
November
December
1937:
January
February
March
April
May
June
July
Cumulative, January
through July:
1929
1933
1934
1935
1930
1937
Value Value
of
of
total total
eximports, ports,
adadjusted' justed'
Monthly average. \ 923-25=10(
121
119
32
27
43 i
48
48
43
52
59
3 114
3 31
3 45
3 45
3 50
3
1
3 117
3 32
344
3 52
3 60
68
Adjusted for seasonal variations.
10570—37
2
Exports,
including
reexports
Total
Exports of United States merchandise
Finished
Crude
materials
manufactures
AutoFood- SemlmoMaRaw stuffs, manbiles,
ufactotal
cotTotal
Total chin- parts
tures
ton
and
ery
accessories
402.9
106. 8
144.1
161.7
173. 2
393.8
104.3
141.6
159.1
167.9
50.0
27.6
51.5
37.2
38.3
24.4
15.9
36.8
20.3
19.2
56.1
15.6
15.4
16.9
15.3
Millions of dollars
60. 5
227.2
56.4
14. 1
9.6
47.0
21.4
53.3
10.1
28.9
76.1
18.9
28.1
86.0
23.3
179.8
178.3
220.1
264.7
225.8
229.7
176.4
175.6
217.5
262.0
223.3
226. 6
30.4
38. 1
72.8
100.4
82.2
67.4
10.8
12.4
38.2
58.4
47.0
40.2
15.0
19.7
23.3
24.9
13.7
13. 1
33.3
32.3
31.9
36.7
32.8
34 9
97.7
85.5
89.5
100.0
94.6
111.2
221.6
232. 5
256, 4
269.2
289.9
285. 4
267. 2
217. 9
229.1
252. 3
264.9
285.1
256. 5
264.6
60.6
54.4
52.2
50.4
52.0
42.0
34.4
37.5
34. 1
34.3
28.6
24.6
16.8
9.4
13.1
22.5
17.5
16.5
16.3
16. 0
17.4
34.2
37.9
53. 0
56.1
71.8
63.3
68.9
|3,025.9 2, 972. 3
I 813.4 798.5
1,197. 7 1,177. 3
1,197. 3 1,171.0
1, 332. 6 1, 309. 7
1,802.1 1,770.3
534. 2
258. 8
337.8
295.4
307.1
345.9
344. 2
177.5
205.1
164.8
164.8
185.1
420. 6
95. 5
128.8
107.8
107.1
119.3
2
Imports *
Total
Finished
Crude Food- Semimanma- stuffs manufac- ufacterials
tures tures
18.4
19.1
353.0
79.4
143. 0
124.0
173.1
119. 0
19.5
46.5
39.0
53.0
75.9
26.3
38.8
29.1
55.4
71.8
11.9
31.0
27.5
32.1
86.2
21.8
26.8
28.5
32.5
29.3
25.2
27.3
31.8
26.4
30.8
16.9
12.4
12.5
15.8
21.2
28.8
196.5
200.1
218.4
213.2
2004
239.8
56.0
61.7
69.4
62.8
61.2
75.4
59.3
56.3
64.2
61.3
58.3
73.3
42.7
40.8
40.8
40.5
40.6
49.0
38.6
41.4
43.9
48.6
40.2
42.2
110. 1
114.2
129.6
141.9
145. 0
] 35. 2
144.0
31.5
31.5
37.0
43.5
42.3
40.8
46.1
27.6
20. 0
28.8
30.8
33.2
29.7
29.4
228.7
200. 3
295.9
281.7
278.8
278.7
263.4
77.0
90.9
91.fi
88.7
91.8
92. 5
77.6
68.4
76.3
97.4
91.0
84.5
80.1
77.5
46.5
52.2
57.9
54.5
55.8
58.9
59.6
36.7
40.9
49.0
47.6
46.7
47.2
443. 4 1, 574.1
118. 2
326. 0
193.2
517. 5
193.0
574. 8
225. 3
670.1
385.1
920. 0
358. 6
64.4
120. 9
149. 5
193.5
272.7
387.6
49.1
125.1
142. 6
149.7
205.5
2, 639. 4
735. 1
955.2
1,157.4
1, 348. 6
1,887.6
947.1
198. 7
283.7
325.3
402.6
610.2
597.0
242.8
287.2
392.8
418.9
575.1
528.5
135.1
185.4
222 2
277^6
385.4
566.7
158.5
198.9
217.2
249. 5
316.9
47.4
6.2
7.5
General imports through December 1933; imports for consumption thereafter.
3
Monthly average.
48.8
10
SURVEY OF CURRENT BUSINESS
September 1937
Real Estate and Construction
during the summer months has meet existing demands which have placed very unequal
CONSTRUCTION
been considerably more active than in 1936, but loads on existing facilities. The report of the American
operations are still subnormal and the expansion in this
basic industry so far in 1937 has not measured up to the
more optimistic expectations entertained at the beginning of the year. The Dodge statistics on construction
contracts awarded have revealed a narrowing rate of
increase over a year ago, and the Bureau of Labor Statistics' data for July record a decline of 15 percent in the
value of building permits issued in 1,483 cities in comparison with the total for the corresponding month of
1936. The number of family units provided in these
cities was less in both June and July than in the same
months of 1936.
Publicly-owned construction awards were larger in
June and July than in the earlier months of the }7ear,
and were slightly larger than in this period a year ago.
For the first 7 months of the year, however, they were
in smaller volume than in 1936. July contracts for
commercial building were valued at slightly more than
in July 1936. The volume of industrial construction
continues to run well ahead of last year and in July
contracts for public-utility work included an unusually
large volume of railroad construction. A considerable
portion of the industrial contracts were awarded by
concerns in the iron and steel industry, where an extensive program of modernization and expansion of existing
facilities has been under wav for some time in order to
Iron and Steel Institute on steel produced for sale
during the second quarter indicates that about So percent of the total finishing capacity of the industry was
engaged, but the rate varied from one-half for rails to
more than nine-tenths for tin plate.
While production and shipments of most building
materials are still much lower than in the predepression
period, the available data record a marked gain over
last }^ear. The percentage increases in quantity shipments of manufacturers so far in 1937, as compared
with the corresponding period of 1936, in some of the
important materials were as follows: Common brick, 34 ;
oak flooring, 24; lumber, 11; and cement, 10. The
dollar sales of paint manufacturers were up 19 percent.
Increases of the magnitude indicated by the above
data in sales of building supply concerns, together with
increased prices, have resulted in a large percentage gain
in profits this year. Standard Statistics reports that
profits of 25 companies in the building equipment,
supply, and construction group for the first 6 months
were more than double those of the first half of 1936,
and that the gain for the second quarter was about
two-thirds. While earnings of these companies in the
aggregate are still considerably less than in 1929, the
volume of profits is substantial, and some well-situated
companies have reported larger profits than in that year.
BUILDING MATERIALS, CONSTRUCTION, AND REAL ESTATE
Federal
Reserve
index
adYear and month justed »
1929:
1932:
1933:
1934:
1935:
1936:
1937:
July
July
July
July
July
July
August
September.
October
November
December
Residential
building
Public Public
utili- works
ties
Common
brick
MilMillions of lions
of
square dollars
feet
Millions of
dollars
Thousands
Monthly
average,
1923-25=
100
Number of
projects
124
27
21
27
35
16, 601
7,008
8,228
7,179
10, 929
652.4
128.8
82.6 i
119.7
159.3
5.5
7.4
4.8
13.1
199.9
19.7
23.6
19.8
48.4
53.1
5.5
4.1
7.9
13.8
149.2
54.6
14.8
31.2
40.1
59
62
59
57
58
66
13,890
12, 912
12,056
12,966
11,269
9,605
294.7
275.3
234.3
225.8
208.2
199.7
20.5
24.4
21.2
21.6
20.0
19.0
72.0
100.5
80.7
79.7
68.4
65.5
27.5
17.9
15.7
14.2
18.0
19.1
99.1
76.4
68.8
52.9
55.8
42.1
170,135
8,731
9,746
13, 355
16,162
13, 756
13, 884
13,2W
242.8
188.3
231. 2
269.9
244.1
317.8
321.6
18.4
18.7
24.2
29.5
23.0
23.8
20.6
78.4
63.0
90.2
108.0
83.9
93.1
81.0
21.8
32.4
20.3
21.0
10.8
29.9
50.0
15, 571
523.5
73.5
139.1
122.3
218.9
259. 4
37.8
5.8
5.4
10.1
16.6
22.6
183.9
19.5
21.7
36. 7
58.1
85.4
48.9
4.6
11.0
7.8
17.3
26.6
January
February
March
April
May
June
July
Monthly
January
July:
1929
1933
1934
1935
1936
1937
All types of
construction
Millions of
dollars
Construction
costs,
Oak
Eng.
Lum- floorCeber
m e n t Newsing
Record «
MonthMills, Thous. Thou- ly avof ft.
of ft. sands of erage,
b. m. b. m. barrels 1913=
100
Building-material shipments
Construction contracts awarded
Loans outstanding
Federal
savings HomeHome
and
Owners'
loan
Loan
loan
bank
Corp.3
associations 3
Realestate
foreclosures
(nonfarm)
Thousands of dollars
Monthly average,
1934=
100
42, 067 20, 319
7,699 9,218
13,676 8,697
935
7,898
7,713
1, 519 18,374 7,813
204.8
153.4
165. 5
199.7
195.2
179, 011
53,745
85,123
°77
1.274,470
2,702,247
172, 748
173, 723
189,104
163,246
141,080
2,056
2,005
2,122
2,327
1,751
1,899
30,123
30, 408
33,432
33, 935
29, 988
35,878
11,823
12, 624
12, 619
13,089
8,942
6,246
204.4
208.1
208.1
211.5
212.7
220.7
465, 682
497,852
507, 574
532,064
531.078
544,107
122,094
125,211
129, 752
134,929
137,250
145, 394
2,920,739
2,897,367
2,869,660
2,883,503
2,801,827
2,765,098
|
|
!
|
!
|
82.7
78.3
85.7
77.8
75.1
84.4
46.7
27.3
32.2
44.8
56.0
70.1
53.5
108,169
113,598
163, 801
191.040
191, 275
185, 769
1,813
2,051
2,298
2,169
2,088
2,138
2,028
38,847
34,391
36,427
35, 253
30, 455
25, 489
28,208
4,689
5,163
7,879
10, 265
11.890
12, 645
12,237
223.5
223.5
225.3
230.3
233.3
238.2
241.8
576, 299
611,212
630,680
644,068
703,996
703, 996
722,442
143, 738
141,198
142, 716
146,146
153, 488
167, 054
169, 568
2,711,451
2,680,230 :
2,661.542 .
2,625,493
2,591,115 |
2,556,401 '
2, 524,129
69.9
65.1
74.0
73.3
74.7
76.3
68. 2
85.6
17.3
58.0
32.7
59.7
47.1
53, 436
68, 459
125, 681
1,080
1,176
1,889
2,084
41,164 12, 938
10,501
5, 232
8,847 6,152
14, 450 5,678
27, 394 8,435
32, 724 9,253
61,101
93,608
average
through
126
18
34
30
54
63
6,865
7,709
9,138
11,214
12, 696
206.7 I
161.4
196.3
195.4
202.4
230.8
i Based on 3-month moving average of values and adjusted for seasonal variations. a Index is as of 1st of month; index for Aug. 1,1937, is 243 0.
95.1
97.2
97.3
105.5
81. 5
71.6
J
See footnote marked "*" on p. 25.
11
SURVEY OF CURRENT BUSINESS
September 1937
Transportation
traffic has not experienced the usual seaFREIGHT
sonal rise since last spring. The seasonally corrected
index for July, though higher than in June, was nearly 5
percent under the April figure and the loadings reports
for the first 3 weeks of August indicate that the customary small seasonal increase for this period was not realized. The traffic gain over a year ago has narrowed to
6 percent as compared with an increase of 15 percent for
the first 6 months of the year.
On a seasonally adjusted basis, daily average loadings in July were higher than in June for all classifications except livestock, ore, and coal. The index of
coal loadings was the same as for June. Reflecting the
reduction in the number of farm animals as a result of
the drought last year, shipments of livestock dropped to
the lowest total since 1935. While ore shipments were
lower in July than in June on a seasonally adjusted
basis, actual daily average loadings were slightly in
excess of those of the peak month of 1929 and were only
slightly below the all-time record set in 1923.
Gross revenues of the class I railroads were slightly
higher in July than in June, as a result of the longer
month and the small increase in loadings. The gain
over July 1936 amounted to only 4.4 percent, as compared with an increase of nearly 12 percent in the first
half of the year over the corresponding period of 1936.
Net income for July will probably be considerably
below the June figure of $18,560,000 which, however,
includes for some railroads large nonrecurring credits
from the Pension Act of 1935 which cannot be properly
allocated to the months in which the payments were
actually made. For the first 6 months, net income,
after charges and taxes, amounted to $36,101,000, as
compared with a deficit of $23,072,000 in the first half
of 1936, according to the final Interstate Commerce
Commission report.
The operating results during the remainder of the year
will reflect the recent agreement reached with the 14
nonoperating railroad unions to increase wage rates.
According to an estimate made by the Association of
American Railroads, the increase of 5 cents per hour,
which has been accepted by the railroads and by the
workers, will result in an increase in the railroad wage
bill of approximately $100,000,000 per year, on the
basis of the volume of traffic hauled in 1936. In that
year the roads net income amounted to about $170,000,000. Negotiations are proceeding with the operating
unions, which have also requested a substantial wage
advance. By the close of the month, no agreement
had been reached.
Purchases of new equipment by the railroads have
been low during the last several months, as is customary
at this season, but operations in the plants of equipment
manufacturers have been sustained by the orders received earlier in the year.
RAIL AND WATER TRAFFIC
Freight-car loadings
F. R. index
Year and month
Unad- Adjusted* justed 1
Total
Pullman
Freight- passencar
MerGrain
Mis- surplus
gers
Coal Forest
and Live- chan- Ore
celcarand prodstock dise
laried
coke ucts prodl.c.1.
neous
ucts
Monthly average, 1923-25=
100
1929:
1932:
1933:
1934:
1935:
1936:
1937:
July
July
July
July
July
July
August
September.
October
November
December
_.
__.
January
February
March
April
May
June
July
Monthly average January
through July:
1929
1933
1934
1935
1936
1937
1
8
State
Thousands of
shcrt tons
Panama 3
Thous.
of long
tons
147
146
125
112
121
133
1,516
1,565
1,519
1,469
1,351
1,497
349, 671
350,585
357, 207
391.457
358,548
372,265
61, 722
64, 681
70,166
89,851
72,411
70,520
10, 951
10, 699
11,041
10, 789
7,094
373
738
605
821
722
717
0
976
1,058
1,054
962
485
214
264.4
279.4
312.3
327.5
326.3
306.3
303.6
131
113
113
134
147
137
137
1,605
1,385
1,475
1,419
1, 364
1,478
331,685
321, 927
377,813
351, 573
352, 613
351,704
365, US
0
38,437
0
38, 359
69, 379
0
47, 807 4,620
43, 663 14,110
58, 940 14,161
60,558 14,137
0
0
0
305
577
792
281
467
1,25 5
1,005
1,077
1,018
956
387.1
188.2
221.5
222.9
258.7
302.4
233
577
368
306
184
130
2, 715
1, 018
1,217
55 1,245
1,380
5 1,454
511, 636
244,138
272,272
272, 977
317,476
350, 352
96, 232
31,357
37,473
31,670
42,816
51,020
161.1
77.0
120.2
99.8
86.7
62.6
14.3
27.1
20.9
27.0
64.4
38.3
41.8
42.8
32.3
22.7
14.6
15.0
23.3
9.8
251.1
162.3
167.2
154.6
150.5
75.9
6.2
26.3
31.1
33.4
415.3
173.1
226.2
220.3
224.3
198
764
77
77
84
86
84
77
76
76
75
77
82
83
714.6
740.2
765.3
819.1
753.4
693.9
119.8
129.7
142.4
168.7
167.4
167.4
33.3
36.1
34.7
35.7
34.0
33.0
53.2
43.3
31.8
32.2
32.8
32.5
13.5
15.4
18.2
21.9
19.2
14.8
158.4
165.6
165.8
171.2
162.7
158.1
52.5
54.9
56.4
52.8
28.3
8.3
283.9
295.2
315.9
336.7
308.9
279.7
73
76
80
82
83
84
80
78
80
663.4
694.6
750.9
738.8
779.5
744.1
762.4
163.4
169.2
179.2
128.9
129.0
120.6
119.8
29.7
34.9
37.7
37.0
39.7
39.1
40.3
29.6
29.3
28.8
29.9
27.3
30.7
50.3
13.6
11.3
11.4
12.6
13.5
11.0
10.5
152.7
160.1
170.5
172.6
171.2
163.3
161.0
9.9
10.5
10.9
30.2
72.5
73.2
76.8
996.2
531.1
593.6
580.0
650. 2
733.6
178.9
104.5
125.3
122.6
134.3
143. 6
64.8
19.6
22.7
24.8
30.6
36.9
45.7
33.0
32.0
26.9
35.1
32.6
25.4
15.6
16.8
11.9
12.2
12.0
252. 8
161.0
159. 9
154.0
154.7
164.2
41.4
8.6
15.4
16.8
24.6
41.8
American vessels, both directions.
* Average weekly basis.
Thousands of
dollars
New
York
296
1, 053. 2
485.9
623.8
592.7
564.0
3
Oper- Net rail- Sault
ating way opreve- erating Ste.
nues income Marie
551,654 121,631 14,120 ! 444
376
2,638
235,331
11,287
473
6,047
293, 724 64,753
519
7,522
276, 010 35,441
519
275,308 26, 919 7,503
108
49
66
62
59
104
54
62
61
Canal traffic
2,939
1,276
1,224
1,280
1,286
112
50
67
62
59
Adjusted for number of working days.
Adjusted for seasonal variations.
Thousands
Thousands of cars 4
Financial statistics, class 1
railways
5
5
5
5
6 months' average, January through June.
1,335
576
823
770
715
1,215
708
942
832
928
866
12
SURVEY OF CURRENT BUSINESS
September 1937
Trend of Business
By M. Joseph Meehan, Assistant Chief, Division of Economic Research
conditions have undergone further
ECONOMIC
' improvement during 1937. Progress since the first
of the year has, however, been less rapid than during
1936, and some important economic series have not
moved above the level reached last December, after
allowance for normal seasonal fluctuations. Activity
has been maintained throughout the first 8 months of
this year around the high point of the recovery period,
the recession during the summer being of seasonal
proportions. A narrowing of the rate of increase over a
year ago has been evident during recent months,
as the cyclical upswing received an added impetus in
the middle of 1936 from the Government funds distributed to World War veterans in settlement of their
adjusted compensation certificates. Nevertheless, preliminary data for August indicate that the margin of
gain over August of 1936 was still substantial. The
chart on page 4, providing a comparison of six important
indicators of economic change for the first 7 months of
the years 1929 to 1937, inclusive, reveals the extent of
the gains for the current year.
The available data indicate an increase of between
10 and 15 percent in the national income distributed
during the first 8 months of the year in comparison
with the corresponding period of last year. This
indicates a further increase in real income, since the
rise in living costs, resulting from higher commodity
prices and the improvement in the rental situation,
has been less than the increase in aggregate income.
The expansion in the national income distributed
has reflected the sharp gain in labor payments, the
further rise in income derived from agriculture and
other business enterprises, and the rapid increase in
dividend payments. The further rise in purchasing
power is of major significance with reference to both
the current and the prospective volume of business.
While the increase in factory pay rolls this year has been
outstanding (see the accompanying table), it may be
noted that total labor income has been estimated at nearly 15 percent higher than last year. Dividend payments,
according to Moody's index, which is indicative of the
general trend, have increased by more than one-third.
Not only labor and property incomes have been
rising; the income of the farmer also has continued to
increase. The outlook for the fall harvest is good,
according to the Department of Agriculture, with
present prospects indicating a yield above average
for the principal crops and much above last year's
drought-reduced yields. In view of the carry-over
situation and the demand factors, the Department of
Agriculture does not regard the prospective yield as
excessive, although the current prospects have been
reflected in some price declines. The unusually high
3deld from the acreage planted in cotton has tended to
depress the price of this commodity substantially. The
rise in cash farm income from the depression low is
shown in figure 1.
INDEX NUMBERS (l924-29*100)
\/b
150
25
i i
00
I
» \t
i
i
i
i
o \SH FARM INCOME —
75
N
FACTOF\Y
PAYROLLS—y ,' i
w
'
50
/
'
,/V
vv
25
1929
1930
1931
1932
1933
1934
1935
1936
1937
Figure 1.—Cash Income from Marketings of Farm Products, and Factory
Pay Rolls. (U. S. Departments of Agriculture and Labor; the Index
of Factory Pay Rolls Has Been Shifted to the 1924-29 Base.)
The Department of Agriculture estimates, on the
basis of current prospects as to sales and prices, that
cash farm income from marketings and Government
payments for the year 1937 will be $9,000,000,000, compared with $7,865,000,000 in 1936, an increase of 14
percent. This would represent the largest total since
1929, when the income was $10,479,000,000. In terms
of purchasing power, the comparative showing with
respect to 1929 is much better because of the lower level
of prices of goods which farmers purchase. The
Department of Agriculture's index of prices paid by
farmers, for example, for the first 7 months of this year
was 9 percent below the average for the year 1929.
The income will also be more evenly distributed this
year than in any other recent period.
Trend of Industrial Output.
Because of the ramifications of the manufacturing
industry, the production of manufactured goods provides a guide to the trend of general conditions. The
Federal Reserve index of the output of manufactures
reveals a rather steady advance from the middle of
1935 to the end of 1936. During the current year the
13
SURVEY OF CURRENT BUSINESS
September 1937
index has moved approximately sideways but close to
the high point of the recovery. Principal influences in
the minor fluctuations in the index during this period
included the industrial disputes (which tended to
retard output for a time, notably in the steel and automobile industries) and the devastating floods in the
first quarter. The evenness of the basic movement,
however, is evident when a comparison is made of the
quarterly average of the Federal Reserve index of
manufacturing production. For the final quarter of
1936 and the first half of 1937 the quarterly figure stood
at approximately 116 (1923-25 = 100). The index has
deviated only slightly from that average for the first 2
months of the current quarter. For the first 8
months of 1937, aggregate output of manufactures was
about 15 percent larger than in the corresponding period
of 1936.
It is apparent from figure 2 that a major impetus to
the forward movement in factory output during the
The shifting demand in the industries producing
durable goods is indicated by the trend of steel output.
Not until the latter part of 1935 were orders for finished steel sufficient to warrant a rate of operations
over an extended period which utilized half of the ingot
capacity of the industry. From the midsummer of
1935, however, output increased from about 40 percent
of capacity to more than 90 percent in May 1937, when
strikes were instrumental in curtailing output. By
August, production was again above 80 percent of
capacity. Actual output of steel in the first 7 months
of 1937 (33,321,000 tons) was within 2 percent of the
production in the comparable period of 1929.
Among the steel-consuming industries, marked expansion has occurred this year in the machinery, agriINCREASE IN PERCENTAGE
Z5
50
COMMODITIES
MACHINE TOOLS (NEW ORDFRS)
COPPER
S T E C L INGOTS
COMMON BRICK (SHIPMENTS)*
COTTON (CONSUMPTION)
WOOL (CONSUMPTION)
CEMENT
SHOES
ELECTRIC
PAINT (SALES)*
LUMBER*
f
HI
GASOLINE *
ELECTRIC POWER
AUTOMOBILES, PASSENGER
BITUMINOUS COAL
•
PLATE GLASS
<Ju!y 1
ated
Figure 3.—Increases in Production of Selected Commodities, First 7
Months of 1937 Compared With Corresponding Period of 1936.
NOTE.—For those commodities for which a measure other than production is used,
it is so indicated.
1927 I 1926 1 1929
1950
I9?l
1932 I I9?3 1 I9?4 I 1955
1956 19)7
Figure 2.—indexes of Manufacturing Production, Durable Products, and
Nondurable Products, Expressed in Terms of Points in the Total Index.
(Board of Governors of the Federal Reserve System.)
NOTE.—Data are based on daily average physical volume and are adjusted for
seasonal variations. The sum of the two components equals the total index, for
which the 1923-25 average is taken as 100. Durable goods include iron and steel,
automobiles, lumber, shipbuilding, locomotives, nonferrous metals, cement, polished
plate glass, and coke; nondurable goods include textiles, leather and products, foods,
tobacco products, paper and printing, petroleum refining, and automobile tires
and tubes.
past 2 years was derived from the demand for durable
goods and that expansion in this direction still persists.
As production and distribution have expanded to a
point where additional equipment is needed and as
renewed confidence has fostered commitments by individuals for housing and other durable products, the
output of this type of commodity has experienced a
rapid rise, with beneficial effects on purchasing power
and on the demand for consumer goods. This development has tended to bring about a better balanced output and is only one evidence of the progress toward the
reattainment of balanced economic relationships.
cultural implement, railway equipment, and electrical
equipment industries. The increase in the steel needs
of the automobile and tin-plate industries was less
marked. Production (factory sales) of automobiles
reached 3,227,683 units in the first 7 months, an
increase of 10 percent over a year ago and a record
which has been exceeded only in 1929. Increased
activity in the building industry has resulted in a
marked expansion in sales of all types of building materials and building equipment. The volume of new
construction, however, still remains distinctly subnormal (see table, p. 17.)
Certain of the consumer-goods industries have operated at an exceptionally high rate this year. Some
products—rayon, gasoline, glass containers, boots and
shoes, cigarettes, cotton textiles, hosiery, and various
lines of electrical equipment, among others—have established new production peaks during the current year.
In some of these lines, notably textiles, production has
tended downward in recent months. Figure 3 affords a
comparison of the increase in the production of certain.
14
SURVEY OF CURRENT BUSINESS
selected commodities during the first 7 months of the
current year with the results of the corresponding
period of 1936.
Labor Situation.
The rise in labor income has been occasioned by the
increase in the number of persons employed, the continued upward movement of wage rates, and some increase in the average hours worked per employee.
The Bureau of Labor Statistics reports that the increase
in the number at work in July in the industries surveyed monthly, as compared with the corresponding
period a year ago, was nearly 1,300,000. Figure 4
shows the relative increase in pay rolls in the principal
manufacturing and nonmanufacturmg industries this
year as compared with 1936.
The important place which industrial disputes have
occupied in the business news during the current year
lends interest to figure 5 showing the number of mandays lost in strikes since 1929. As recovery has progressed ,the loss of time because of this factor has inINDUSTRY GROUPS
10
September 1937
chasing power, since there is the possibility of shifting
purchases and production from one group or area to
another and temporary stoppages may result only in
clearing inventories.
The man-days lost should properly be interpreted
with regard to the aggregate man-days of all workers,
and on this basis they do not seem so imposing. The
number at work in nonagricultural employment this
year, according to the Bureau of Labor Statistics esti-
INCREASE IN PERCENTAGE
20
30 A-0
MANUFACTURING
I
IRON AND STEEL
!
MACHINERY, NOT INCLU. TRANSR EQUIP.
1
METALS, N0NFERR0U5 AND THEIR PROD.
TRANSPORTATION EQUIPMENT
I
STONE CLAY AND GLASS PRODUCTS
RU5BER
•H
PRODUCTS
mmm
mam
m
CHEMICALS ANO ALLIED PRODUCTS
LUMBER AND ALLIED PRODUCTS
r-
TEXTILES AND THEIR PRODUCTS
FOOD AND KINDRED PRODUCTS
PAPER AND PRINTING
RAILROAD REPAIR
SHOPS
TOBACCO
maamm
mamma •
NONMANUFACTURING
METALIFEROUS MINING
QUARRYING AND NONMETALLIC MINING
CRUDE PETROLEUM PRODUCING
TELEPHONE AND TELEGRAPH
MHBB9 •
ELECTRIC LIGHT ANO POWER AND MANUF. GAS
• • •
RETAIL TRADE
mmmm1
mmrna 1
WHOLESALE TRADE
1
BITUMINOUS COAL MINING
ELEC.RR AND MOTORBUS " F R A T I O N
AND MAINTENANCE
Figure 4.—Increases in Pay Rolls in Manufacturing and Nonmanufacturing
Industries, First 7 Months of 1937 Compared with Corresponding Period
of 1936. (Basic data from the U. S. Department of Labor.)
creased; more time has been lost so far in 1937 than in
all of 1936. The June peak for the current year reflects
the heavy loss of time in the steel industry; the January
and April peaks were caused by the strikes in the automobile industry.
While these labor disputes have been important,
particularly in the lines directly affected, it is possible
to overemphasize their effects to date in terms of the
total flow of purchasing power and in terms of their
influence on general business activity. It is impossible
to determine the net effect of such stoppages either with
regard to the industries or the individuals affected, but
certainly not all of the time lost can be computed as
net loss with relation to either production or pur-
Figure 5.—Man-Days Idle as a Result of Strikes. (U. S. Department of
Labor.)
mates, has averaged about 34,000,000. The average
monthly number of workers involved in strikes during
the first 7 months of the year was 318,000, or less than
1 percent of the foregoing total. Furthermore, workers
lost, on an average, 9% days, or little more than onethird of a month each.
As a result of the reemployment gains and the general
improvement in economic conditions, the number of
relief cases has declined, continuing the trend established some time earlier. From a peak of 5,316,000
cases in January 1935, the number dropped to 3,640,000
in December 1936, and declined further to approximately 3,200,000 in June 1937. These figures represent
the unduplicated number of cases (families and single
persons) from relief rolls employed on the Federal Works
Program, together with those receiving relief under the
general relief program of the States and localities. Not
included are persons benefiting from the publicassistance program of the Social Security Board or
from special programs such as those for student aid,
rural rehabilitation, Civilian Conservation Corps camps,
National Youth Administration works projects, and
transient assistance.
The number of persons employed on projects of the
Works Progress Administration declined to 1,527,000
September 1937
by the week ended August 14, from a peak in excess of
3,000,000 in the first quarter of 1936. The reduction
since the last week in December has been about 665,000.
While the relief and employment data indicate a
substantial improvement in the unemployment situation, the number without private employment is still
large. The major fields in which employment is still
considerably less than in 1929 are construction, mining,
and transportation. The other industries and service
occupations have not absorbed the employees released
from these groups and those that may have been displaced by 37oung men and women entering the labor
field. The increase in the number of employables
since 1929, although not known, is a figure of considerable size.
Domestic and Foreign Trade.
The improvement in domestic distribution this year
has been accompanied by the rise in exports, notwithstanding the many influences which continue to
restrict the flow of international trade. Armament
programs have tended to increase trade in certain
articles, but it is not possible to measure the influence
of this as distinguished from other factors. The increase of about one-third in the value of our exports
during the first half of the year over the first half of
1936 was the result of an increase of nearly one-fourth
in the quantity of goods shipped abroad and of an
8-percent advance in the average price of our export
goods. The increase in exports for this period was
relatively larger than the advances in domestic distribution series.
This situation has not prevailed for the earlier recovery period, and our export trade is smaller relative to
predepression standards than is domestic trade. On
a volume basis, exports for the first half of the year were
more than one-fourth below the 1929 figure; exports of
both crude and manufactured foodstuffs made a particularly poor showing. Imports, on the contrary,
have been larger in volume this year than in 1929,
parth' because of unusually large imports of agricultural commodities as a result of the short harvests of
recent years.
The fluctuation in several of the major re tail-trade
indexes since 1929 is shown in figure 6. Sales of new
passenger automobiles and rural sales of general merchandise during this period have fluctuated more widely
than have department-store sales. The latter are
more indicative of the general sales movement. Department-store sales in 1936 and 1937 show about the
same relative decline from the 1929 level as do the
estimates of total sales; but at the low point in 1933,
department-store sales were 40 percent below those for
1929, while all sales were off about one-half. The
increase in aggregate sales so far this year has probably
not exceeded 10 percent, the rate of gain having gradually
decreased in recent months.
15
SURVEY OF CURRENT BUSINESS
Freight traffic for the first 8 months of the year was
about 12 percent higher than in the corresponding
period of 1936; but in recent weeks the rate of gain has
been reduced to about 6 percent. Although the financial
position of the carriers has improved, advancing costs
of materials and the recent wage rate increases have
caused their operating expenses to rise rapidly. No
decision has as yet been announced by the Interstate
Commerce Commission on the petition of the carriers
for an increase in freight rates.
INDEX NUMBERS (l929~31 = 100)
i75|
:
1
1—
150
!V\
•h
1929
NEW PASSENGER AUTOMOBILE
SALES
\
1930
1931
1932 ' 1933 ' 1934
1935
f
1936
H
1937
Figure 6.—Selected Indexes of Retail Sales, Adjusted for Seasonal Variations (Bureau of Foreign and Domestic Commerce, except for department-store sales which is the index of the Board of Governors of the
Federal Reserve System shifted to a 1929-31 base).
Price Changes.
The year opened with "sensitive" commodity prices
rising rapidly in continuation of the upward movement
wiiich was initiated in the final quarter of 1936. This
rise, which extended through the first quarter of the
current year and which was accompanied by a gradual
advance in prices of finished goods, engendered a considerable volume of speculative and forward purchasing
and resulted in some increase in inventories in the hands
of both manufacturers and retailers. With the break
in the commodity markets early in April, purchasing
agents became more cautious. The inventory situation
has not been such as to cause a slackening in industry,
although in such important industries as steel and
textiles, recent production has been in excess of incoming business, and unfilled orders have been materially
reduced. The extent of the price readjustment since
March has not been sufficient to cause important
inventory losses, particularly since prices of manufactured products have continued to advance into the
summer. The Bureau of Labor Statistics index of
finished products in mid-August stood at 88.9 (1926 =
16
SURVEY OF CURRENT BUSINESS
100), approximately 2 points above the figure for the
week ended April 3, when the more sensitive commodity
prices reached their peak.
Rising prices and costs of production have created
numerous problems. In the construction industry,
sharply advancing costs have undoubtedly exercised a
retarding influence on certain types of construction.
Residential building has proceeded at a much higher
rate than that of a year ago, but since May the value of
the permits issued for family dwellings in cities having a
population of 10,000 or more, as reported by the Bureau
of Labor Statistics, has been less than that reported for
the corresponding time last year. Data gathered by
the Federal Home Loan Bank Board indicate that the
rise in the cost of single dwellings has been very
considerable, although there are certain possibilities of
cost adjustment in such construction by varying the
size and/or equipment of the dwelling. For example,
the average cost of the single-family dwelling for which
permits were granted in June, in all cities of 10,000
population or more, only slightly exceeded that in
June 1936. Obviously, if the cost figures are stated on
the same basis for both months, the average unit is
somewhat different from that started a year ago.
Financial Tendencies.
Financial conditions have remained easy, with interest
rates low and capital abundant. On May 1, the last of
a series of increases in member-bank reserve requirements went into effect and reduced excess reserves
below a billion dollars for the first time since early in
1934; at their peak in December, 1935, excess reserves
were about $3,300,000,000.
The member-bank reports for the current year reveal
the following significant tendencies: (1) a moderate
decline in the volume of deposits; (2) a decline in the
volume of Government securities held; and (3) a continued expansion in the volume of commercial loans.
The drop in deposits followed 4 years of rapid rise and
has coincided with a decline in the volume of Government securities held by the banks. Gold flowed into
the country in large volume throughout the first half of
the year, but more recently there has been a decline in
imports from Europe, the principal source of shipments.
Imports of gold from Japan have been large in recent
months.
Stock prices reached a peak for the recovery period
in March and subsequently declined. Prices were
lower at the end of August than at the end of 1936.
Industrial shares, according to the Standard Statistics
index, had recovered to the year-end level, but rails
and utilities were lower. Profits of industrial and other
corporations have continued to increase, although the
rate of gain is declining and not all industries have
been able to improve upon the 1936 results.
Figure 7 illustrates the extent of recovery in profits
in the three major groups. The declines for the railroad and industrial corporations from 1929 to 1932
September 1937
were closely parallel, but the recovery record has been
quite different. Profits of the railroads are still relatively small. Among the industrials the largest relative increases for the first half of 1937, on the basis of
preliminary data, were reported for the iron and steel,
aircraft, railroad equipment, building, machinery,
metals, petroleum, and electrical equipment industries.
It will be noted that companies in most of these lines
are benefiting from the revival in the durable-goods
industries. ' *.&•
INDEX NUMBERS, (1926 = 100)
-25
1929
1930
1931
1932
1933
1934
1935
1936 I 1937
Figure 7.—-Quarterly Earnings of 120 Industrial, 26 Railroad, and 15
Utility Corporations. (Standard Statistics Co., Inc.)
Expanding profits have meant a larger dividend flow
this year, particularly from industrial concerns. The
average dividend rate per share of 492 industrial concerns, as reported by Moody's, advanced from $1.26
in December 1935 to $2.01 in December 1936 and by
July 1937 had risen to $2.12. The rate for 36 rail
shares, which had moved up from $1.21 to $1.77 in
1936, has been unchanged at that figure through July.
The 30 public utility concerns included in the tabulation
showed only a moderate rise in 1936, and practically
no change so far this year. The rate on the industrial
and public utility shares has recovered to within about
80 percent of the average for the last 7 months of 1929,
but the railroad rate is less than a third of the 1929
figure. The basic reason for this difference is evident
from figure 7.
While bond prices have declined from the peak
reached last December, the readjustment of yields has
been slight when compared with the rise of the 4
preceding years. The yield on Treasury bonds increased
from 2.27 percent in December 1936 to 2.74 percent in
April and subsequently receded slightly but has
17
SURVEY OF CURRENT BUSINESS
September 1937
In June there was an increase, as several large issues
were offered, and the July total was above the average
for the first 6 months, but in August the volume was
relatively small. The volume of corporate refunding
during the first 8 months was much less than that in
the corresponding period of 1936, but the amount of
new capital raised was larger. The latter amount was
still low in relation to the predepression average.
fluctuated around the average for the years 1935 and
1936. The Standard Statistics Co.'s computed yield
on 45 corporate issues rose from 4% percent to around
4K percent, the latter figure being less than the average
yield on the bonds in 1935.
The decline in listed security prices hampered the
flotation of new issues. Difficulties were experienced
as early as January in the marketing of new securities,
and the volume of flotations declined through May.
Selected Business Series, Comparative Data for the First 7 Months of 1929, 1932, 1936, and 1937 with Percentage Changes
Perc en i a ge eh an ge
195? from—
First 7 months of—
Unit or base period
Item
1929
Industrial production, combined index
Production series:
Automobiles.-Bituminous coal
Cotton consumption
Electric power
Lumber i
Petroleum, crude
Pig iron
Steel ingots
Wool consumption
„___
Distribution:
Car loadings.
Eetail sales:
Passenger automobiles
Department stores
Rural
Cash income from farm marketings
Employment and pay rolls:
Employment:
Nonagricultural (estimated total) 2
Factory..
_
Pay rolls:
Factory
_
_
Construction:
Contracts awarded, total
Residentipl
Nonresidential
Public works and utilities
___
Foreign trade:»
Exports:
Quantity
Value
Imports:
Quantity
Value
Finance:
Corporation profits *_
Securities issued, total
New capita]
Refunding
Bond prices (45 corporate issues).Stock prices (419 issues)
Prices:
Wholesale prices 3
_
Cost of living of wage-earners3
1
2
Data are for first 6 months of each year.
May of each year.
»July of each year.
p Preliminary.
10570—373
1923-25 = 100 _
-
___
__
_
of units..
of tons...
of bales..
k\v.-hr_.
feet b. m_._
of barrels._
of tons
_
_
_
1929-31 =
1923-25 =
1929-31 =
1924-29 =
1936
1937
1929
12-
-1 1
° 72t»
3 --S - H i
P 2 y ,~L
299 2"i>
4 -' 1
+15.8
-t-1') ^ -,-H) 3
lo Oil
2 0 , 1 )7
---» 6 j f-U 8
+12.8
43.1
(>< 0
IP h
- - 0 o 'J-1^7 0
-I » 3
-3 1
+9. 6
+9.3
+ 11.2
+10.5
}
( j
9>7
>77
it) >n
* -7 9 )
It ' —
40 >
P 09 s 13
P 7-7 1st
Ti6 0
_
-S
—
2u~ 0 >
107, l>)0
29, 77
1936
1932
+ 10.2
+9. 0
+21. 6
+9.9
+12. 6
+ 15.8
+43. 9
+32. 3
+19.6
104, r 0 2
55,4/2
"579 ron
of pounds _
Thousands of units
_
_
Thousands
Thousands
Thousands
Millions of
Millions of
Thousands
Thousands
.do.
Thousands
1932
-
.
J
-
7 ' 4-3' t 2
/ I , 2{)1 S
100..
100..
100.
100-
9^ 0
10) S
90 9
Thousands of workcrs.
1923-25 = 100
1)1 2
b> 2
luO o
-4
-3
1923-25 = 100-
109.6
48.8
100. 3
-8.5
+105.5
+28.4
Millions of dollars..
.do..
.do..
-do..
3, Cf)4
1, 532
407
1,816
-50.4
1, 287
1, 436
942
796
182
312
301
703
-51.0
-45.3
+ 128. 1
-228.6
+125.3
4-71. 1
+18.5
+46. 9
+20. 0
-4.5
1923-25 = 100..
1923-25=100-.
132
116
70
37
78
51
95
-28.0
C8 i —41.4
+83. 8
+21.8
4-33. 3
1923-25=1001923-25=100-.
134
118
85
39
114
60
141
85
136.7
',261,786
>, 321, 423
940, 363
94. 9
190. 5
18.8
1, 057, 187
771, 998
285, 188
74.1
46.7
75. 1
3, 976, 017
966, 694
3, 009, 320
103. 3
105.7
102.9
2. 977, 914
1,512,322
1,465,595
102. 8
122.5
96. 5
100.3
64. 5
77.5
80. 5
85.2
87.9
88.9
1926=100..
Thousands of dollars
do
.doDollars....
1926 = 1001926 = 100..
1923 = 100..
7u
0
f
i > 7
C4 ^
3
0
r2j 4
-l 1 8
+6.0
+ 13.2
^0. 9
+ 23.7
+41. 7
- 2 4 . 7 +447. 3
- 5 9 . 0 + 181.7
— 76. 1 +95.9
+55. 9 +413.9
— 35. 7 + 162. 3
+37. 0
25 1
+ 56." 4
-51.3
— .4
+ 15. 9
+36. 3
+14.7
+9.2
+4. 3
+5. 2
-28. 0
+ 8. 4
-8.9
-11.4
+38. 7
18
SUEVEY OF CURRENT BUSINESS
September 1937
NEW OR REVISED SERIES
Table 36.—SALES OF NEW PAID-FOR ORDINARY LIFE INSURANCE IN THE UNITED STATES,
BY GEOGRAPHIC DIVISIONS 1
[Thousands of dollars]
Total
Year and month
1930
January
February
IVIarch
April
-
_. .
Junp
July
Ancust
-
-
- --
. _ _ _
-
September
Ootobor
November
December
-
-
---
- -
Total
TVfnnfVilv average
New
England
Middle
Atlantic
1VI Eiy
OotnV>pr
-
T)pppnibpr
---
Total
-
TVIay
Jun6
J U ly
_
_
-
-
Total
-
IVIonthlv averase
Tanuarv
February
IVIarch
\pril
1933
-
Jy^Q^y
-- --
- - - - ~
_ __
J U ly
-_
AiTorllef
Seotember
October
December
Total
-
- -- --
^\TontVilv averasce
-
September
October
November
December
Total
Monthly average
-
-
- -
—
-
___-
_ _
_-
- -
-
--
1 See footnote on p. 19.
_ _
- -
-----
East
South
Central
West
South
Central
Mountain
Pacific
195, 542
204,311
247. 776
232,613
218, 751
215, 224
196,613
174,698
155, 440
175, 827
168, 520
202,158
87,032
88. 759
106, 907
107, 022
105, 852
98, 542
89, 974
78, 596
72, 048
79, 627
74, 645
94,266
70, 790
74, 948
83, 577
86, 384
84, 628
80, 025
78. 487
70, 299
61, 907
67, 759
64. 840
79. 497
36,312
37,199
44, 027
43, 107
43. 650
39, 740
36, 969
33, 423
27, 513
31, 287
27, 409
35, 610
50, 896
51, 793
67, 644
67, 533
69, 508
62. 847
66.031
55, 210
48, 258
50, 226
46,118
63, 796
21, 020
20, 815
24. 082
27, 844
24. 229
21,977
21.862
20, 616
19, 188
20, 173
18, 024
24, 022
64, 878
74. 981
87, 581
84,725
80.910
81.221
76,293
71, 625
62, 928
65, 535
59, 570
80, 205
10,751,943
759, 378
3, 328, 271
2, 387,473
1, 083, 270
903,141
436, 246
699, 860
263. 852
890, 452
895, 995
63, 282
277, 356
198, 956
90, 273
75, 262
36, 354
58, 322
21, 988
74, 204
730, 253
754,170
893,782
875, 313
843, 522
857,868
738, 258
687, 457
624. 639
697,804
734,317
938,871
55,678
58, 077
70, 399
69, 748
66, 427
63,611
54, 742
49, 055
48, 262
55, 583
54, 451
67, 239
243, 586
251, 808
295,941
278, 862
266,978
281, 697
229.167
208,929
187, 933
220, 250
242, 699
301, 734
162, 211
171, 227
200,877
198,249
187, 620
183,921
159, 386
153,473
139. 498
157. 522
163, 208
208, 571
70, 099
73,801
87, 381
84, 405
81,800
86, 309
75, 282
69, 671
61,039
66,183
66, 312
94, 088
58,673
58, 273
69, 056
74, 596
74, 962
77, 041
65, 655
60, 305
54, 678
57, 767
60, 926
80, 611
26, 092
25,134
31, 724
32, 382
31,161
31. 450
28, 792
28.481
24, 559
24, 971
25,310
32,937
41,619
44, 264
50, 509
54, 034
51,979
50, 990
49,793
44, 746
41,389
42, 559
44.884
58.139
16, 475
17, 001
20, 930
19. 351
18, S96
18,091
17, 722
17, 004
15, 283
16,197
16, 683
20,478
55, 820
54, 585
66, 965
63,686
63,699
64,758
57,719
55, 733
51,998
56, 772
59,844
75, 074
9, 376, 254
713, 272
3, 009, 584
2, 085, 763
916,370
792. 543
342,993
574. 905
214,171
726, 653
781,355
59, 439
250, 799
173,814
76, 364
66, 045
28, 583
47,909
17, 848
60, 554
735, 211
682,910
746,181
654,343
622,683
630,180
571,372
574, 282
516, 603
565, 551
587, 458
635, 453
55, 224
55,311
56,131
52, 629
46, 337
48, 320
41, 799
44, 445
41,079
43, 625
47, 089
46, 653
252, 994
230, 670
242; 343
208, 430
169, 358
199, 996
184. 617
182, 505
159,834
170,199
189, 026
202, 605
158,6Q9
153,911
170,399
144,949
137, 292
141,875
128,842
127, 358
114,981
130, 787
131,832
139, 849
66.353
63, 815
70, 393
60,839
57,993
59,172
54, 798
54,879
5!, 575
55, 536
54, 044
59, 700
62,164
56, 015
59,980
53, 443
52,937
51, 642
45, 523
45, 930
42, 800
46, 669
49, 098
53, 243
25,986
24, 342
25, 807
23, 753
23, 729
22, 389
20,162
20, 954
19,693
20, 458
20, 652
22, 233
39, 551
39, 280
43, 396
44, 829
42, 681
43, 041
38, 095
40.411
35, 060
38,810
39,034
48,151
16,745
15, 742
16. 516
13. 546
13,430
14,869
13,587
12,511
11, 546
13. 763
12,419
14, 400
57, 495
53, 844
61,216
51,925
48,925
48,876
43,949
45, 289
40, 035
45, 704
44, 264
48,619
7, 532, 227
578, 642
2, 422, 577
1, 680, 774
709,097
619,444
270,158
492, 319
169, 074
590,142
627, 686
48,220
201,881
140,065
59, 091
51, 620
22, 513
41, 027
14, 090
49,179
545, 661
539,563
526,631
529, 890
564,552
558, 578
552, 508
566,688
480, 444
533, 841
577,438
630,428
45,833
43,859
44, 400
44, 042
43, 816
47, 589
44, 341
47,223
38, 523
41,813
47,275
47,439
181. 277
176, 535
174,120
170, 677
178, 529
170, 780
158, 799
169, 230
136, 341
160, 720
176,857
178,689
125, 580
118, 542
110, 763
109, 347
127, 307
127, 754
132, 689
129, 873
110, 996
120,440
128, 756
136,113
54,065
51, 639
52, 404
48, 731
55,021
52, 616
53, 547
58, 269
48,141
53,796
55,806
70,563
39,728
41, 228
39, 583
43, 408
45, 081
45, 238
44, 533
48, 587
43, 433
45, 233
48, 826
54, 647
18, 538
20, 547
19, 306
21, 555
22, 457
23, 675
25, 048
22, 621
20, 292
20, 881
22, 007
26, 584
31,061
35, 461
34, 893
38, 009
37, 397
38,518
37, 725
36, 880
35, 434
40, 761
41, 748
53, 451
10, 675
10, 578
10, 880
11, 297
11, 945
12, 400
12, 279
12, 630
11,217
11, 573
13,062
15,167
38, 904
41,174
40, 282
42,824
42, 999
40, 008
43, 547
41,375
36, 067
38, 624
43,101
47, 775
6, 606, 222
536,153
2,032, 554
1,478,160
654, 598
539, 525
263,511
461,338
143, 703
496,680
550, 519
44, 679
169,380
123,180
54, 550
44, 960
21,959
38,445
11,975
41,390
41,800
46, 337
53,235
50,955
52,109
50,177
42,436
46, 362
34, 861
42, 312
42, 608
50, 036
170,679
166,964
203,321
209,370
211,550
195, 034
180, 836
172,074
135, 825
180,963
174, 080
213, 320
127, 524
125,435
154,036
156, 252
156, 761
145, 663
134,137
125,361
105, 529
129, 817
125, 633
154, 234
56,970
53,451
67,929
68, 262
69, 353
64,829
55, 548
54, 363
49,014
55, 656
52, 279
63, 878
45,449
46,440
54,957
58,360
59,997
57,151
53, 289
51,851
44, 998
51,779
49, 739
62, 211
21,664
21,192
24,392
25, 528
25,484
25, 060
21, 883
21, 637
19,458
21,261
21,410
27, 410
40,738
41, 537
49, 869
49,885
50,129
48,642
40, 294
41,044
35, 886
40,803
39,042
55, 095
11, 597
12, 755
14, 761
15, 929
14, 690
20, 694
13, 570
13, 721
11, 762
14,081
13, 223
16, 829
39, 529
41, 458
50, 358
50, 364
52,143
49,173
43, 764
42, 591
35, 763
44,486
41, 586
52,868
553, 228
2, 214,016
1, 640, 382
711, 532
636, 221
276, 379
532,964
173,612
544,083
46,102
184, 501
136, 699
59, 294
53,018
23,032
44,414
14,468
45, 340
1934
January
February
IVIarch
April
JVIay
June
July
August
South
Atlantic
287, 883
296,901
351, 306
321, 368
302,187
287, 506
277, 839
235, 798
204, 385
244,110
239, 856
279.132
1932
February
West
North
Central
59, 646
68, 051
74, 685
73, 896
68, 392
64, 107
60, 035
55, 841
48, 673
58, 718
57, 563
69, 771
873,999 1
917, 758 i
1, 087, 585
1,044,492
998, 107
951, 189
904,103
796, 106
700, 340
793, 262
756, 545
928, 457
1931
July
East
North
Central
555,950
555, 569
672,858
684, 905
692, 216
656,423
585, 757
569,004
473, 096
581,158
559, 600
695,881
7, 282,417
606,868
.
19
SURVEY OF CURRENT BUSINESS
September 1937
Table 36.—SALES OF NEW PAID-FOR ORDINARY LIFE INSURANCE IN THE UNITED STATES,
BY GEOGRAPHIC DIVISIONS—Continued
[Thousands of dollars]
Year and month
Total
f
_ __ .
_ __ _ _ _
Total
Monthly average
West
North
Central
East
South
Central
South
Atlantic
West
South Mountain
Central
Pacific
5?! 859
55, 606
49,157
56, 042
57, 524
69,341
60, 321
53, 657
56,114
57, 607
55, 074
51, 946
51,111
49, 467
47, 085
55, 018
54, 253
61, 514
27, 471
23, 219
24,392
25, 301
24,192
23,315
21, 428
21,834
20, 262
21,975
21,837
25,937
49, 050
42, 217
47, 422
47,191
43, 908
43,164
40, 934
42, 961
36, 742
44, 045
38, 963
54, 093
14, 924
14,177
14, 535
14, 692
14, 705
14,852
14, 593
14,715
12, 246
14, 474
13,941
18, 966
50, 956
49, 076
49, 948
49, 566
46, 937
46,863
45, 392
44, 632
40, 881
46, 745
46, 827
57, 016
1, 641, 450
706, 415
653,167
281,163
530, 690
176, 820
574, 839
136,788
58,8G8
54, 431
23, 430
44, 224
14, 735
47; 903
168, 494
165, 118
185, 209
176, 267
174, 375
185, 712
170, 932
144, 305
138 000
166, 538
160, 543
183,142
129,329
122, 463
138, (183
130,411
129, 710
136, 263
134, 630
118, 160
112 176
130, 898
124, 703
154, 143
56,
49,
58,
57,
59,
63,
61,
54,
48
55,
53,
66,
504
949
899
202
252
068
239
546
372
524
283
325
47, 716
46, 966
55, 125
55, 781
54, 436
56, 068
55,340
50, 658
50 060
54, 305
52. 387
63, 170
20,
19,
23,
22,
21,
23,
23,
21,
22
23,
23,
28,
745
166
161
278
556
822
853
307
499
611
379
168
38,902
40, 283
46, 324
45, 239
45, 161
50, 685
44, 865
42, 350
41 838
41,522
43, 653
54, 258
14, 714
14, 647
16, 259
16, 616
16, 063
17, 465
17, 005
16, 596
14 345
15,533
15, 399
18, 863
43, 547
42, 288
50, 423
50, 012
48, 466
51, 704
51,601
49, 722
43 795
46, 751
46, 864
53, 563
516, 744
2, 018, 635
1, 560, 969
683, 163
642,012
273, 545
535,080
193, 505
578, 736
43, 062
168, 220
130, 081
06, 930
53, 501
22, 795
44, 590
16,125
48, 228
46,
48,
56,
51,
46,
47,
41,
166, 427
176, 959
211, 486
204, 392
177, 762
181, 383
163,002
124
133,
166,
155,
143,
147,
132,
50,
51,
66,
64,
60,
63,
59,
48,
53,
63,
64,
59,
59,
55,
19,
19,
27,
26,
25,
26,
24,
38,
39,
53,
49,
49,
50,
45,
13, 757
13, 801
18, 767
18, 879
17, 192
17,149
16, 932
38 952
40,927
58, 286
55,919
49,773
53,085
50, 212
751, 329
625,199
642, 357
635, 251
593, 087
580,163
569 097
540, 043
490, 260
593, 356
582,591
678, 389
57, 749
47, 094
51, 559
50, 462
44, 301
42. 868
40, 224
38, 220
34, 062
44, 964
42, 513
46,943
263, 476
194, 266
192. 286
185,103
167, 228
166, 785
166,898
152, 937
140, 428
179, 030
173, 680
193, 502
163, 756
144, 247
144,716
145,814
135, 413
132, 585
130, 658
119,671
109, 397
131, 063
133, 053
151,077
7, 281,122
540, 959
2,175, 619
606, 760
45, 080
181,302
566, 029
541, 613
619,936
596, 754
593, 797
631,980
603, 500
534, 077
507 199
576, 873
562, 465
668, 166
46,
41,
46
42,
44,
47,
44,
36,
36
42
42,
46,
078
733
453
948
778
193
035
433
114
191
254
534
7, 002, 389
583, 532
547,
577,
722,
692,
630,
645,
588,
63,
57,
61,
59,
61,
026
246
385
515
329
1936
._
February
March
April . __
May
June
July..
August
. _
__
October
November
December
East
North
Central
1935
January
February,
March
ApriL.
. __
May
June
July
August
September
October _
November.. ._
December
January
New Eng- Middle
land
Atlantic
__.
_
Total.
_
Monthly average
..
_-
_ __
1937
January
February
March. _ .
April
May
June..
__
July
_
_.
883
090
631
062
690
995
523
525
162
540
148
943
797
360
935
058
677
483
649
103
356
432
573
432
861
995
508
885
750
975
220
505
828
658
262
818
262
966
989
532
222
254
287
373
257
886
016
090
260
1
1 Compiled by the Life Insurance Sales Research Bureau. These figures represent the sales of new paid-for ordinary life insurance in the United States, exclusive of group
and wholesale business, revivals, increases, dividend additions, annuities, and reinsurance from other companies. The data are compiled from 54 contributing companies which
produce approximately 85 percent of the business. The volume has been increased to represent total sales of ordinary life insurance of all companies operating in the United
States. A ratio of the sales of the 54 companies to sales of all companies in each State based upon 4 years' aggregate experience is used to raise the volume figure? to a 100 percent
basis. These ratios are revised each year, dropping the earliest year and adding the latest year for which data are available. Details by States and by the geographic
divisions as outlined in the United States Census are given in the regular monthly reports of the Life Insurance Sales Research Bureau. The same figures are available as percentages of the 1930 average month.
States comprising the standard sections shown above are: New England—Maine, New Hampshire, Vermont, Massachusetts, Rhode Island, and Connecticut; Middle
Atlantic—New York, New Jersey, and Pennsylvania; East North Central—Ohio, Indiana, Illinois, Michigan, and Wisconsin; West North Central—Minnesota, Iowa, Missouri, North Dakota, South Dakota, Nebraska, and Kansas; South Atlantic—Delaware, Maryland, District of Columbia, Virginia, West Virginia, North Carolina, South Carolina, Georgia, and Florida; East South Central—Kentucky, Tennessee, Alabama, and Mississippi; West South Central—Arkansas, Louisiana, Oklahoma, and Texas; Mountain—Montana, Idaho, Wyoming, Colorado, New Mexico, Arizona, Utah, and Nevada; Pacific—Washington, Oregon, and California.
Data previously shown in the Survey of Current Business represented on an average about 90 percent of the total ordinary life insurance in force in the United States.
Table 37.—SALES OF NEW PAID-FOR ORDINARY LIFE INSURANCE IN CANADA1
[Thousands of dollars]
Month
January
February
March
April
May
June
July
August
September
October
November
December
Total
Monthly average
1930
1931
1933
36, 474
38,173
38,211
33, 504
31,413
41,106
34, 517
28, 872
26, 258
30, 708
34, 991
34, 214
1933
43,961
44,199
49,918
51, 555
49,284
54, 228
46, 002
36,115
39,989
45, 096
47, 491
49, 377
40,170
40,194
47, 851
45, 252
41,893
46,129
39, 668
35, 877
30, 939
36, 434
39,836
47,478
30, 009
27, 702
30, 789
30, 479
31,819
34, 033
31,715
29, 783
27, 342
33, 421
35, 632
39,978
557, 215
491, 721
408, 441
382, 702
46,435
40, 977
34, 037
31,892
1934
26,764
28, 035
31, 421
32, 099
31,878
31, 082
32, 768
25, 664
25, 221
30, 180
34, 524
36, 334
1935
1937
31,933
27,480
30, 651
27, 935
27,320
30, 251
30,870
25, 323
25, 595
28, 849
32, 227
33, 705
33, 347
28,834
30, 552
28, 876
28, 411
31, 247
31,396
23, 547
26, 090
29,402
36, 710
34,146
365, 970
352,139
362, 558
30, 498
29, 345
30, 213
27, 699
30, 604
31,998
32,919
31, 858
37, 658
1
Compiled by the Life Insurance Sales Research Bureau. These figures represent the sales of new ordinary life insurance, exclusive of group and wholesale business,
annuities, pension bonds without insurance, reinsurance acquired, revivals, increases, dividend additions, and the extra amount at risk under family income and double
income policies (the full face amount of each policy is reported when the company becomes liable for the fulfillment of its terms). The data are compiled from the reports
of 18 companies, representing 87 percent of the new ordinary life insurance business in the Dominion of Canada and the Colony of Newfoundland. Data shown in the 1936
Supplement represented the reports of 19 companies which had about 90 percent of the total ordinary legal reserve life insurance outstanding in Canada, and in the 1932
Annual Supplement represented the reports of 15 companies which had 85 percent of the legal reserve ordinary business in force. Details by provinces and the Colony
of Newfoundland are shown in the Bureau's monthly reports. The same figures are available as percentages of the average 1930 month.
20
SURVEY OF CURRENT BUSINESS
September 1937
Table 38.—RADIO ADVERTISING »
[Thousands of dollars]
Cost of facilities
Year and M o n t h
Automotive
Clothing
Electric
home
equipment
Financial
3,632
2, 997
2,417
2,286
2,493
3,036
3, 060
3,006
433
366
319
325
260
254
285
406
100
47
19
15
30
26
31
29
79
52
32
33
35
51
60
72
110
96
88
84
90
92
88
99
1,195
1,076
846
738
906
1,026
1,078
1,070
39,107
2,648
Total
Foods
Office
Home
SmokSoap, furnishfurnish- cleansing
ings,
ings,
materers, etc. supplies
etc.
ials
Drugs
and
toilet
goods
All
other
1932
Mav
June
July
August
.
_
.
_________
October
November
December
Total
_
32
15
14
6
0
3
15
0
92
92
91
112
75
74
84
77
13
8
11
12
24
30
25
60
543
414
378
385
366
358
354
395
808
701
572
516
500
585
658
665
228
130
47
60
206
536
383
134
3,193
5,005
1,724
297
414
747
7,935
85
697
183
_ .
3,259
2 331
2 37
2 52
2 93
2 992
2 11
2 87
2 23
2 399
2 626
2 216
__ _
2,811
2,628
3,014
2, 466
2,287
2, 065
1, 816
1,907
2,103
3, 255
3, 466
3,697
507
480
529
424
455
388
377
502
488
545
550
518
30
39
47
52
53
22
9
5
24
46
43
43
32
50
79
43
44
16
23
38
0
11
10
54
57
48
54
54
56
56
50
59
52
64
60
61
876
807
962
849
728
629
557
590
719
1,239
1,256
1,229
0
1
12
13
10
1
0
7
15
19
15
17
79
72
83
64
70
70
64
69
78
73
80
99
13
11
7
6
0
0
0
0
0
25
41
47
361
334
364
239
207
241
162
187
113
134
185
381
725
660
736
619
569
535
461
372
515
936
1,027
1,074
131
124
141
104
96
107
113
80
99
162
198
175
Monthly average
1933
January
February
March
April
May
June
July
_
August
September
October
November
December
_
_
_
_
_
-_
-
31,516
5,763
413
401
669
10, 439
110
900
151
2,910
8,231
1,530
__
2,626
480
34
33
56
870
9
75
13
242
686
128
- -
3,798
3, 588
4, 033
3 745
3,731
3,104
2, 495
2,249
2,561
4, 527
4,366
4,451
506
550
601
579
613
512
376
368
415
841
606
644
18
28
34
38
30
22
27
25
39
42
34
36
55
49
74
37
38
7
9
6
7
11
11
15
65
57
64
63
59
37
36
36
40
57
51
46
1,134
1,132
1,143
1,118
1,009
896
733
748
679
1,311
1,339
1,392
22
27
34
47
54
35
7
0
51
37
43
35
124
117
163
162
181
149
137
112
163
174
220
224
32
32
40
23
7
0
0
0
0
0
9
8
437
392
416
326
310
187
93
38
46
316
302
319
1,260
1,077
1,319
1 209
1,273
1,100
993
828
992
1,485
1,453
1,473
145
126
145
145
158
160
83
88
127
251
298
260
42, 647
6,613
373
318
612
12, 634
392
1,924
150
3,182
14, 462
1,987
3,554
551
31
27
51
1,053
33
160
13
265
1,205
166
4, 664
4,413
4,855
4,298
?», 973
3,448
3,119
2, 900
3, 250
4,879
4,541
4,944
659
589
686
624
583
537
526
488
555
1,053
702
802
29
40
62
41
27
31
15
19
39
38
38
38
15
48
86
52
44
17
3
1
1
7
12
9
49
44
42
43
25
28
30
27
40
34
29
46
1,462
1,327
1,440
1,239
1,189
960
945
918
969
1,354
1,298
1,402
26
46
58
56
63
47
46
45
36
79
81
79
158
152
160
170
259
180
157
132
126
193
183
192
5
20
27
0
0
0
0
10
42
47
43
91
321
293
306
336
280
284
188
183
184
370
373
376
1,687
1,625
1,720
1,480
1,321
1,204
1,100
967
1,096
1,356
1,383
1,500
253
229
266
258
182
160
110
111
163
350
400
409
Total
49, 284
7,805
417
296
435
14,501
3 656
2,061
285
3,494
16, 437
3 2,896
M^onthlv average
4,107
650
35
25
36
1,208
54
172
24
291
1,370
241
4,741
4,786
5,402
4,833
4, 441
3,931
3, 832
3,777
4, 894
6,723
6,126
6,185
754
781
876
742
731
626
492
468
770
1,164
1,031
944
29
34
43
29
31
26
5
4
24
51
56
39
8
8
16
4
0
9
45
36
27
1
22
16
35
49
53
33
36
37
33
38
44
53
70
85
1,394
1,322
1,501
1,432
1,257
1,174
1,290
1,207
1,333
1,559
1,670
1,821
81
78
89
85
77
70
23
33
29
65
91
51
194
218
267
265
279
291
285
249
314
400
410
457
109
103
100
36
33
8
0
0
6
17
13
6
359
339
380
398
395
373
423
397
439
359
391
404
1,446
1,478
1,606
1,443
1,263
1,066
982
976
1,273
1,475
1,659
1,752
332
376
471
366
339
251
254
369
635
1,579
713
610
Total
59, 671
9 378
370
191
567
16,962
772
3,629
431
4,657
16,420
6, 294
Mlonthlv averase
4,973
782
31
16
47
1,414
64
302
36
388
1,368
525
Total ,
__
Monthly average
1934
January
February
March
May
June
July
August
September
October
November
December
_
_
-
Total
-
---
Monthly average
1935
January
February
M arch
April
May
June
July
A.u^ust
September
October
November
December
January
February
M^arch
April
May
June
July
August
September
October
November
December
_
- __
1936
__
- -
-
-
-
_
_
__
-
-
1
Compiled by the Publishers1 Information Bureau, Inc., and supersede data of the National Advertising Records, Inc. Present data for individual classifications are not
comparable with series shown in the Survey prior to January 1937, although the monthly totals are a continuation of those previously shown. Figures represent the cost of
facilities of the National Broadcasting and the Columbia Broadcasting Systems and include the cost of facilities of the Mutual Broadcasting System (exclusive of supplementary stations) beginning with October 1935. The total cost of facilities of the Mutual Broadcasting System for 1935 was $1,293,101. Although the present tabulation
began in 1932, data representing the individual classifications are not available for the first 4 months of that year. Total cost of facilities for these 4 months, in thousands of
dollars, are: January, 3,984; February, 3,891; March, 4,301; and April, 4,004. For 1937 data, see page 26 of this issue.
2 8 months' average, May to December, inclusive.
3 Monthly data differ slightly from totals as a result of reclassifications made in totals but not shown in monthly figures.
21
SURVEY OF CURRENT BUSINESS
September 1937
WEEKLY BUSINESS INDICATORS*
[Weekly average, 1923-25=100]
1937
Aug.
Business activity:
New York Times*-.
Business Week*
1935
Aug. Aug.
31
24
Aug. Aug. Aug. July
21
14
7
31
109.4 109. 9 111. 2 108.2 107.8 102. 8 103. 6
79.2 78.6
79.0 79.1 77.4 77.5 66.7
Commodity prices, wholesale:
Dept. of Labor, 1926=100:
Combined index (784)
86.5 87.3 87.5
85.0 87.1 87.5
Farm products (67)
85.3
Food (122)
86.5
85.8 85.9 86.0
Allother (595)
Fisher's index, 1926=100:
Combined index (120)
_ 91.7 91.! 91.9
Copper, electrolytic^
100.0 100.0 100.0
Cotton, middling, spot
35.3 37.1 39.3
Construction contracts}:
Distribution: Carloadings
Employment: Detroit, factoryFinance:
Failures, commercial
Security prices:
Bond pricesf
Stock prices}
1936
61.1
82.1
83.6
38.1
112.0
131.
87.5
87.7
86.5
86.2
81.2
83.3
82.5
79.7
81.5
84.6
82.8
79.7
80.5
79.2
86.0
78.1
80.7
86.1
78.1
91.8
92.3
83.8
84.1
68.8
44.1
84.3
60.1
39.7
84.6
57.2
40.8
72.3
76.7
32.7
71.0
71.7
38.4
65.3
33.2
49.4
47.2
100.0 100.0
77. 71 68.4
81.5 81.1
113.4
39.1
37.1
38.3
81.6
83.5
78.7
78.0
38.8
33.!
Finance—C ontinued.
Banking:
Debits, outside N. Y. C . t —
Federal Reserve reporting
member banks:
Loans, total
Interest rates:
Call loansj
Time loansj
Money in circulation!
Production:
Automobiles
Bituminous coalj
Cotton consumption!
Electric powerf
Lumber
Petroleum %
Steel ingots
Receipts, primary markets:
Cattle and calves
Hogs
Cotton
Wheat
87.2
67.1
87.4
86.9
86.3
86.0
1937
Aug.
28
ITEM
112.6 113.1 113.1 113.4 116.0 115.8 107.2 107.6
136. 2 137. 8 137. 2 136. i 134.2 133. 9 105. 5 105.6
Aug. Aug.|Aug.
31
24
22
Aug. Aug. Aug. J u l y Aug.
29
21
14
7
31
87.1
97.4
86.2
98.6
90.7
79.7
79.5
79.3
79.3
78.3
77.1
67.0
24.2 24.2 24.2
28.6 28.6 28.6 28.6 28.1
134.0 134.1 133. 9 133. 5 132.7
66.1
78.7
62.5
63.1
6.1 6.1
28.6 28.6
5.7 5.7
127.6 115.2 115.0
109.2 122.3 135.3 103. 2 113.;. 2 70.7 98.4 64.4
74.5
131.1
137.8 138. 3
55.5 58.1
179.0
138. 0 136.3
74.8
130.0
138.1
61. 5
178. 5
136.3
87.3 104.5 105. 7
31.1 26.6 23.1
116.9 83.8 55.0
150.1 163.5
72.2
120. 8
135. 8
65.4
175. 3
138. 0
75.5 78.6 75.0
127.7 121.7 122.2
135.4 128.2 127. 6
55.3
172. 4 145. 6 147.4
139. 6 122. 3 122.3
99.6 78.3
21.3 22.4
40.8 38.1
234.51312.2
101.5
36.9
70.0
48. 8i
66.3
73.0 61.5
83.6 87.7
108.6 110.4
50.5 51.3
127.9 129. 1
76.0 86.5
106.5
33.4
58.11
80. Oh
92.2
26.0
88.8
08. 7
102.9
31.7
58. 1
113.9
*Computed normal=100. •Data do not cover calender weeks in all cases. JDaily average. 1Weekly average, 1928-30=100. ^Seasonally adjusted.
WEEKLY BUSINESS STATISTICS
1937
COMMODITY PRICES, WHOLESALE
Copper, electrolytic, New York
dol. per lb_
Cotton, middling, spot, New York
do...
Food index (Bradstreet's)
do__.
Iron and steel, composite.
...dol. per ton.
Wheat, No. 2, hard winter (Kansas City)..dol. per bu.
FINANCE
Banking:
Debits New York City
..mills, of dol.
Debits, outside of New York City
do___
Federal Reserve banks:
Reserve bank credit, total
do...
Bills bought
___
do...
Bills discounted
do...
U. S. Government securities
do...
Member bank reserve balances
do...
Excess reserves, estimated
do...
Federal Reserve reporting member banks:
Deposits, net demand, adjusted
do
Deposits, time...
do...
Investments, total
do
U. S. Government direct obligations
do
Obligations fully guaranteed by U. S. Government
mills, of dol.
Loans, total..
do...
Commercial, industrial, and agricultural loans:
On securities
mills, of doL
Otherwise secured and unsecured
do
Interest rates, call loans.
_
__
percent.
Interest rates, time loans
do
Exchange rates:
French franc (daily av.)
cents.
Pound sterling (daily av.)
dollarsFailures, commercial
number.
Money in circulation
mills, of doL
Security markets:
Bond sales (N. Y. S. i?.)___thous. of dol. par valueBond prices, 40 corporate issues
.dollars.
Stock sales (N. Y. S. E.)
..thous. of sharesStock prices (N. Y. Times)
dol. per share.
Stock prices (Standard Statistics) (420)
1926=100.
Industrials (348)
_
do
Public utilities (40).
_
do...
Railroads (32)
_.
_
do...
PRODUCTION, CONSTRUCTION, AND
DISTRIBUTION
Production:
Automobiles!
_
number..
Bituminous coal (daily av.)
thous. of short tons..
Electric power
.mills, of kw.-hr..
Petroleum
_
thous. of bbl_.
Steel ingots (Dow-Jones est.)
_.pct. of capacity..
Construction-contract awards (da. av.)_-thous. of dol..
Distribution:
Freight-car loadings, total
cars..
Coal and coke
do
Forest products
_
..do
Grain and products.
do
Livestock
do
Merchandise, 1. c. 1
do
Ore
do....
Miscellaneous
do
Receipts:
Cattle and calves
thousands..
Hogs
_
__
_
.-do-...
Cotton into sight..
thous. of bales..
W h e a t at primary markets
thous. of bu_.
1936
July 31
July 24
Aug. 29
Aug. 22
Aug. 31
1934
Aug. 21
Aug. 14
0.138
.096
2.87
40.36
1.08
0.138
.101
2. 90
40.36
1.09
0.138
.107
2.90
40.32
1.12
0.138
.113
2.90
40.32
1.13
0.138
.112
2.88
40.27
1.17
0.138
. 118
2.88
40. 11
1.22
0.095
. 118
2.82
34. 03
1.20
0.095
.120
2.85
33.94
1.26
0.083
. 108
2.74
32.78
1.07
0.079
.111
2.75
32.72
1.03
0.088
. 134
2.39
32. 17
1.06
2,805
4,037
2,860
3,998
3, 659
4,573
3, 158
3,577
2,465
3
7
2,430
6, 332
1,892
2,457
3
6
2,430
6, 229
1, 813
2,471
5
9
2,430
5, 346
2, 749
3, 429
3,646
2,468
5
7
2,430
5,291
2, 682
2,406
2,703
2,561
3
15
2, 526
6, 636
704
3, 529
4,657
2,564
3
12
2, 526
6, 858
874
2, 963
3,097
2,572
3
17
2,526
6,681
740
3, 536
4, 205
2,560
3
15
2.526
6,776
813
3,067
4,119
2,565
3
19
2,526
6,730
761
3, 036
4,517
2,565
3
18
2, 526
6, 744
782
14, 950
5,282
12, 357
8,232
14, 930
5,227
12, 370
8,231
14,914
5,229
12, 414
14, 877
5,244
12,470
8,242
15, 033
5, 268
12, 499
8,283
15,018
5,251
12, 473
8,240
14,911
5, 028
13, 839
9,274
14, 794
5,014
13, 887
9,332
13, 263
4,839
12, 022
7,877
13, 218
4,852
11,978
7, 847
13,630
5, 030
10, 644
7,158
1,134
9,958
1,139
9,933
1,176
9,917
1,190
9,908
1,188
9,784
1,195
9,740
1,233
8,425
1,232
8,369
1, 035
7,817
1,021
7,890
8,276
589
4,017
1.00
1.25
587
3,993
1.00
1.25
586
3, 962
1.00
1.25
584
3,915
1.00
1.25
581
3,844
1.00
1.25
579
3, 847
1.00
1.25
1.00
1.25
1.00
1.25
.25
.25
.25
.25
1.00
1.00
3,748
4.98
155
6,507
3.753
4.99
159
6,511
3.752
4.98
153
6,500
3.752
4.98
156
6,481
3.746
4.98
158
6,445
3.745
4.98
148
6,448
6.584
5.03
138
6,200
6. 584
5.03
135
6,196
6. 617
4.97
201
5,596
6. 630
4.98
192
5,586
6. 685
5.03
202
5,368
35,670
100. 27
3,751
127.95
118.1
140.6
95.1
49.6
36, 270
100. 80
3,821
132. 28
121.0
144.4
96.5
50.6
34,930
101. 29
4,312
133.84
121.5
144. 6
97.6
51.4
32,130
101. 25
4,379
133. 28
121.5
144.3
98.6
52.0
32, 870
101. 52
4,117
132. 85
120. 3
142.2
99.8
51.9
38,380
101. 64
5, 501
133. 27
120. 7
143. 0
97.8
53.1
47, 620
103.91
5,843
130. 29
111.0
126.4
106. 3
52.6
42, 590
103.74
5,504
130. 08
113.2
128.7
108.6
54.3
63, 960
95. 97
7,197
102. 45
81.7
94.1
77.4
35.1
73,870
96.34
10,481
102. 58
84.4
96.0
84.4
36.5
55,620
93.01
2, 864
80. 69
69.2
78.3
65. 2
36.7
83, 310
1,321
2,295
3,731
84
9,811
93, 339
1,269
2,304
3,729
83
12, 481
103, 250
1,273
2, 301
3,719
83
10,980
78, 736
1, 230
2,262
3,651
84
86, 403
1,286
2,256
3, 592
85
14, 392
88, 055
1, 215
2, 259
3,576
82
9,919
53, 937
1,339
2,136
3, 032
74
12, 941
75, 082
1, 278
2,126
3,070
74
11, 601
49,115
1, 243
1, 810
46
5, 251
50, 585
1, 047
1, 840
2, 689
52
6,170
34, 786
1,128
1,627
2,422
19
3, 975
787,373
137,884
38, 428
41,166
13,997
169, 549
72, 890
313, 459
781, 247
125, 610
41, 346
43, 949
15, 038
166,980
74, 895
313, 429
777, 382
126, 020
40, 932
43,391
14, 616
166,396
74, 471
311, 556
769, 706
121,211
41,144
46,318
13, 537
168, 369
75, 533
303, 594
782, 660
128, 867
42, 770
51, 632
11,288
166.817
73,653
307, 633
770, 980
119, 239
41, 899
51, 648
9,401
165,609
77, 470
305, 714
754, 097
141,096
36, 131
36,536
15,819
167, 213
55, 790
301, 512
735, 476
125, 398
37, 070
39,790
15, 837
166, 046
54,601
296, 734
680, 848
138, 581
31, 403
44, 576
14, 202
161, 133
36, 741
254, 212
625, 774
105, 045
30,765
40, 457
15, 019
15S,329
36, 0S5
240, 044
647, 531
126, 494
21,818
38.510
36,891
162, 866
26,939
234, 013
276
202
304
11, 944
330
173
218
13, 006
334
150
143
14, 803
315
138
106
18,651
248
145
99
24, 839
197
157
68
25, 760
321
239
182
3,884
337
217
119
6, 414
291
169
231
8,644
325
206
151
9, 053
757
279
164
5,198
•Data do not cover calendar weeks in all cases.
Aug. 7
1935
Aug. 28
Aug. 24
^Beginning June 12, 1937, index is based on Ward's estimate instead of Cram's.
Sept. 1
2, 463
5
21
2,432
4, 127
1, 945
22
SURVEY OF CURRENT BUSINESS
September 1937
Monthly Business Statistics
The following table represents a continuation of the statistical series published in the 1936 Supplement to
the Survey of Current Business. That volume contains monthly data for the years 1932 to 1935, inclusive, and
monthly averages for earlier years back to 1913 insofar as available; it also provides information as to the sources
of the data and sufficient descriptive material for a proper interpretation of each series. These notes also indicate
the source from which monthly figures prior to 1932 may be obtained. It is essential that all users of the SURVEY
have this base book which may be secured from the Superintendent of Documents, Government Printing Office,
Washington, D. C , for 35 cents per copy.
A few series have been added or revised since the 1936 Supplement went to press. These are indicated by
an asterisk (*) for the added series and by a dagger (f) for the revised series. A brief footnote accompanying
each of these series provides a reference to the source where the descriptive note may be found.
The terms "unadjusted" and "adjusted" used to designate index numbers refer to the adjustment for seasonal
variation. Data subsequent to July will be found in the Weekly Supplement to the SURVEY.
Monthly statistics through December 1935, to- 1937
gether with explanatory notes and references
to the sources of the data may be found in the
July
1936 Supplement to the Survey.
1937
1936
July
DecemAugust SeptemOctober November
ber
ber
January
February
March
April
May
June
BUSINESS INDEXES
BUSINESS ACTIVITY (Annalist)
Combined index
computed normal = 100..
Automobile production
do
Boot and shoe production!
do
Car
loadings,
freight_ _ do
Cement
production
do .
Cotton consumption
do
Electric power production
_. do
Lead production
do
Lumber production
do
Pig iron production
do
Rayon consumption
do
Silk consumption
do
Steel ingot production
do
Wool consumption.
do .
Zinc production
do
INDUSTRIAL PRODUCTION
109.0
122 8
129.4
104. 0
63.5
137. 2
106. 9
100. 4
95.0
127.2
110.8
65.8
114.4
82.7
93. 3
102. 4
118.9
129. 2
95.1
64.2
141. 5
102.1
87 3
84.6
95.5
145. 4
77.2
100.3
112.9
89.8
102.5
107. 3
128.1
93.0
71.8
133.3
104.9
71.3
86.6
100.0
126.7
83.2
108.9
112.1
83.4
102.9
91.7
132. 5
94.7
69.9
137.2
104. 9
70 9
87.7
107. 5
100.3
87.2
108. 9
112.1
81.1
103. 3
96.3
148.4
97.2
75.7
124.3
104.1
78.3
86.6
114.1
107.3
79.2
112.4
98.2
84.2
107.1
100.6
138.1
102.8
82.3
129.2
104.7
86.1
74.5
117.2
121.9
82.8
121. 6
127.2
84.2
110.5
115.7
162.4
101.3
80.3
151.0
105.3
94.4
80.7
121.2
133.5
88.6
121.9
169.6
84.1
104.2
103.1
154.6
95.1
80.1
133.9
105. 5
85.0
68.0
119.8
106.1
78.5
109.6
110.7
71.6
105.7
116.8
143.7
103.1
75.1
139.6
105.9
81.4
71.0
115.3
98.7
76.0
102.2
109.3
73.3
106.8
114.1
147.2
100.2
81.7
145.8
105.0
88.8
81.1
116.9
112.0
71.4
104.0
137.3
92.3
107.0
114.8
133.3
101.7
75.1
136.7
105. 4
97.3
85.0
116.0
119. 0
84.0
107.6
123.4
94.4
110.0
125.6
' 130. 0
108.9
67.9
135.3
106.8
84.7
92.1
117.2
121.6
77.2
113.9
118.0
99.6
' 106. 7
125.6
' 130. 5
100 2
60.2
148.5
' 106. 4
87 6
96.3
110.1
' 126. 5
79.8
99.8
103.9
96.0
v 112
105
105
128
91
87
198
110
113
182
124
106
106
82
100
85
226
118
128
186
119
'107
107
42
101
94
236
117
130
189
122
111
110
65
99
104
242
123
123
192
118
115
115
127
90
121
164
127
112
189
126
114
114
147
71
117
89
125
114
192
123
112
113
120
52
100
77
134
126
189
123
117
118
120
51
85
244
135
136
194
133
122
122
140
67
84
241
142
136
190
132
122
'125
158
85
83
265
144
128
195
133
122
123
163
92
74
234
146
'122
'200
132
115
'114
147
91
76
234
119
'113
201
123
107
167
102
57
72
164
68
147
85
97
108
109
124
75
92
220
119
114
183
124
112
158
104
51
75
177
58
152
88
92
108
110
111
77
96
226
120
115
186
119
120
173
110
58
87
178
57
150
106
93
109
110
107
81
100
236
119
112
189
122
117
157
115
67
94
167
73
153
118
98
110
111
93
87
105
242
127
112
191
118
125
153
115
71
106
93
77
150
106
100
114
115
105
91
109
164
137
116
188
126
132
149
111
72
103
130
156
105
61
93
134
153
111
54
103
132
146
118
67
112
127
145
105
101
61
81
156
114
100
121
121
122
91
100
89
143
134
191
123
77
158
100
85
114
115
120
86
87
77
139
136
189
123
72
165
102
89
116
116
120
85
86
244
129
134
194
133
77
171
102
113
118
117
121
93
89
229
126
132
190
132
84
174
104
114
118
118
130
87
93
241
130
'131
195
133
123
157
117
63
70
238
75
177
98
117
118
118
135
78
76
223
134
' 133
200
132
'119
164
'117
65
'72
240
72
'175
105
111
'114
114
130
74
77
260
119
'118
202
123
(Federal Reserve)
Combined index, unadjusted
Manufactures, unadjusted
Automobiles
Cement
.
Meat packing* _
Glass, plate
__
Iron and steel.
Leather and products! _
Petroleum refining
Rubber tires and tubes
Shipbuilding
Textiles
Tobacco manufactures
Minerals, unadjusted! _
Anthracite!
Bituminous coah__ ... _
Iron-ore shipments
Lead.. _ ._
Petroleum, crude.
Silver
Zinc
Combined index, adjusted
Manufactures, adjusted
Automobiles
Cement
________
1923-25=100-do
do
do
do
do
do
_
do _
do
do
do
.
do
do
do
do
do
do_._
do_ _
do
do
do
do
do
do
d o
132
92
67
186
130
v 116
p 102
178
3Q
v 71
245
79
v 111
p
104
129
75
70
Meat packing*
do
206
Glass, plate
do
140
Iron and steel
.
do
Leather and products!do. _ v 118
Petroleum refining do
Rubber tires and tubes
do
Shipbuilding
do
114
121
139
124
129
124
123
126
116
119
126
P110
120
Textiles
do
150
164
154
146
183
165
158
155
147
150
168
153
157
Tobacco manufactures
do _
v 111
'114
115
116
105
112
117
109
128
115
101
99
102
Minerals, adjusted!
do
74
81
63
52
73
97
69
51
69
58
50
56
Anthracite!.do
112
80
86
95
97
83
72
80
v 78
79
76
82
98
Bituminous coal._ _
do _
121
159
122
110
98
81
87
93
Iron-ore shipments
do
71
76
75
70
76
70
80
85
71
60
82
74
60
Lead- crude_
do .
152
152
164
174
144
'172
149
146
161
168
173
176
p 173
Petroleum,
do
107
99
113
99
94
Silver
do
101
119
103
101
111
93
88
101
80
116
115
112
104
99
98
100
83
110
Zinc
do—.
112
104
99
97
101
100
98
80
83
107
110
116
115
97
107
Zinc
do.—
*New series. The series on meat packing has been substituted here in place of the series on food products which comprised meat packing, sugar meltings, andflourmilling. The latter two series are included in the combined index, but are not shown separately.
v Preliminary.
' Revised.
! D a t a r e v i s e d f o r 1936.
1 9 3 6 . For revisions of the Annalist index, boot and shoe production, Federal Reserve indexes, leather and leather products, unadjusted and adjusted,
c o m b i n e d i n d e x of m inerals,
i l unadjusted and adjusted, anthracite, unadjusted and adjusted, see p. 22 of the March 1937 issue.
2 oO
SURVEY OF CURRENT BUSINESS
September 1937
Monthly statistics through December 1935, together with explanatory notes and references
to the sources 01 the data may be found in the
1936 Supplement to the Survey.
1937
July
1937
1936
July
Decem- January FebruOctober NovemAugust Septemary
ber
ber
ber
March
April
May
June
BUSINESS INDEXES—Continued
MARKETINGS
Agricultural
products, combined
Index
(quantity)
1923-25=100
Animal products
do
Dairy products do
Livestock
. . do
Poultry and eggs _.
do
Wool
do
Crops .
_
do
Cotton .
do
Fruits
- do
Grains
_ _ ._
do
Vegetables
do
Agricultural products, cash income from farm
marketings:
Crops and livestock, combined index:
Unadjusted .
1924-29=100
Adjusted
do
Crops, adjusted
_ _ . __ do
Livestock and products, adjusted
do
Dairy products, adjusted
do
Meat animals, adjusted
do._
Poultry and eggs, adjusted
do
COMMODITY STOCKS
Domestic stocks, combined index (quantity)
1923-25 = 100..
Manufactured goods _
do
Chemicals and allied products
do
Food products
.do
Forest products
do
Paper newsprint
do
Rubber products
do
Raw materials
do
Chemicals a n d allied p r o d u c t s
do
Foodstuffs
do
Metals
do
Textile materials
do
World stocks of foodstuffs and raw material?
combined index ( q u a n t i t y ) t .1923-25=100..
Coffee a d j u s t e d !
do
Cotton, adjusted t .
do
R u b b e r , adjusted t
do
Silk adjusted t
.
do
Sugar, adjusted t
do
Tea adjusted t
do
Tin, unadjusted t
-do .
Whe-it, adjusted t
.
..
do
86
77
125
56
84
273
95
15
65
200
69
89
90
113
70
89
485
88
16
87
172
66
80
81
94
75
80
152
78
71
78
93
57
110
80
90
80
72
99
140
259
89
47
95
127
89
96
93
73
91
165
304
104
58
112
106
95
82
91
115
117
116
200
78
54
77
83
89
80
82
120
46
77
106
71
49
72
'67
74
76
73
81
39
59
62
78
42
79
56
62
75
59
67
18
51
54
68
31
80
66
79
87
69
106
58
54
58
74
30
89
64
81
90
65
123
81
47
43
67
31
85
66
87
113
63
131
176
45
28
79
32
103
72
92
149
65
112
311
51
25
59
50
129
87.5
94.5
108. 0
80.0
85.5
77.5
78.0
84.0
88.0
89.5
86.0
81.5
88.5
86.5
75.0
74.5
61.5
87.5
87.0
89.5
89.0
89.0
77.5
65.0
90.0
91.0
92.5
81. 0
104.0
76.0
60.0
93.0
94.0
95.5
77.5
88.5
77.5
61.5
94.0
91.5
99.0
80.5
86.0
78.5
64.5
92.5
91.5
100.5
77.5
75.5
75.0
63.5
87.0
89.5
89.0
78.5
59.5
70.5
63.0
78.5
84.5
83.0
59.5
70.5
81.5
74.5
88.5
90.5
89.5
85.5
69.0
89.0
88.5
90.0
88.0
91.0
86.0
68.0
78.0
74.5
81.5
88.5
75.0
80.0
71.5
84. 5
85.5
83.0
85. 5
82.0
78.5
105
107
141
98
116
50
105
104
72
120
105
103
104
101
118
85
113
76
77
106
69
120
83
119
109
103
122
88
114
79
80
113
75
128
93
126
122
102
125
86
112
65
91
136
95
128
96
181
131
102
123
90
112
63
96
153
108
132
106
220
135
104
121
99
113
61
95
158
110
127
103
240
132
107
131
112
116
54
94
150
104
118
107
232
127
111
143
114
116
71
94
139
93
111
98
214
119
109
153
110
109
61
101
127
84
104
83
195
110
109
154
103
109
73
102
111
78
85
80
174
101
106
148
99
110
47
104
98
75
70
70
154
'99
' 107
144
96
112
48
104
'93
75
70
'83
136
'98
107
'141
103
114
57
104
185
441
154
282
194
177
139
66
131
182
435
155
272
196
166
140
73
133
186
422
182
268
187
157
140
65
130
186
427
179
264
183
172
136
69
122
189
428
180
256
187
183
135
93
119
185
428
174
251
196
177
124
100
116
184
426
176
242
188
173
116
101
120
185
434
174
242
168
182
107
95
118
182
453
163
244
189
181
98
97
115
175
470
158
235
188
16S
91
98
101
170
499
150
225
194
164
94
93
86
166
497
142
238
188
165
94
87
77
137
231
188
100
r
'74
'78
'93
121
COMMODITY PRICES
COST OF LIVING
(National Industrial Conference Board)
Combined indexes . . _ _
1923=100
Clothing
do
Food
. _
do
Fuel and light
do. .
Housing
do
Sundries
do
PRICES RECEIVED BY FARMERS
(U. S. Department of Agriculture) §
Combined index
1909-14=100
Chickens and eggs
do
Cotton and cottonseed
Dairy products
Fruits
Grains
Meat animals
_
Truck crops
Miscellaneous.-.
_
do - - .
do
do
do
do
do
do
_
88.9
76.9
87.7
84.1
87.1
96.9
85.2
73 0
85.8
84.7
78 1
94.4
85.6
73 2
85.8
85.0
79.3
94.5
85.9
73 6
86.1
85.6
80 3
94.5
85.7
73.8
84.6
86.2
80.8
94.9
85.8
74 0
84.3
86.5
81.4
95. 1
86.1
74.1
84.7
86.6
81.8
95.3
86.9
74.3
86.4
86.4
82.2
95.8
87.2
75.0
86.3
86.5
82.8
96.1
87.9
75.9
87.2
86.1
84.2
96.4
88.3
76.2
87.4
85.0
85.2
96.6
88.8
76.7
88.4
83.7
86.1
96.8
88.9
76 9
88.2
83.7
86 6
96.8
125
102
106
116
145
139
144
96
113
115
106
105
116
117
109
119
115
131
124
112
103
125
108
129
123
134
152
124
119
106
128
105
130
123
153
141
121
127
104
125
104
128
120
131
133
120
141
103
126
97
127
118
104
133
126
133
105
127
93
134
122
99
168
131
110
107
128
105
143
128
115
182
127
101
108
126
127
146
126
143
147
128
102
116
125
133
145
129
131
140
130
104
117
120
142
154
130
127
139
128
96
112
116
152
149
133
139
133
124
95
107
113
157
139
137
124
119
85.9
79.8
84.0
84.0
82.8
84.3
82.8
82.5
84.2
82.9
84.6
84.5
84.3
85.4
85.6
86.5
76 0
'86.2
96 3
88 1
88 5
89 3
90.0
90 8
91.7
93 0
93 7
94 5
95 2
95 6
96 0
96.4
90.7
94.8
97 4
89 2
92.6
87.5
90.4
89.4
85 0
94.4
87.6
90.4
89.4
85 2
94.5
87.7
90.7
89.9
85 4
94.5
87.8
90.9
90.3
85.6
94.6
87.9
91.0
90.9
85 7
94.9
88.1
91.4
91.8
86.1
94.9
88.4
92.2
93.1
87.0
95.1
89.0
92.5
94.0
87.6
95.3
89.4
93.0
94.7
88 2
95.7
89.9
93.4
95.3
88 6
95.8
90.1
93.6
96 3
88 9
96.0
90.4
94. 1
96 8
89 2
RETAIL PRICFS
U. S D e p a r t m e n t of Labor indexes:
Coal ( a n t h r a c i t e ^ _
1923-25 = 100
Food t 1923-25=100
Fairchild's index:
Combined index
D e c 1930=100
Apparel:
Infants' wear
Men's
Women's
Home furnishings,
Piece goods
_
- __ _
do
do
do
do
do
WHOLESALE PRICES
U. S. Department of Labor indexes:
Combined index (784)
1926=100.81.5
85.9
81.6
81.6
82.4
84.2
86.3
80.5
87.8
87.4
87.2
87.9
88.0
Economic classes:
Finished products
do
82.4
82.0
83.8
84.9
85. 4
82.3
82.6
86.4
87.4
81.6
87.5
87.7
88.8
Raw materials _
do
82.1
88.1
79.8
81.5
88.3
86 5
83.1
85.6
90.1
87 1
86 1
81.8
88 7
76.2
Semimanufactures
do
85.4
75.2
75.6
75.9
85.5
78.6
89.6
87.0
89.5
87.5
86.8
82.3
'Revised.
1 Base shifted to 1923-25=100. In computing base, the last quarter of 1922 was substituted for the last quarter of 1925 to eliminate the abnormally high prices which resulted from the 1925-26 strike in the Pennsylvania anthracite mines. Figures beginning 1929 will be shown in a subsequent issue.
§ Data for Aug. 15, 1937: Total 123, chickens and eggs 109, cotton and cottonseed 90, dairy products 119, fruits 123, grains 119, meat animals 151, truck crops 104, miscellaneous 128.
t Revised Series. Retail food prices, for monthly data for period, 1923-36 see table 9, p. 20 of the February 1937 issue. World stocks of foodstuffs and raw materials
for period 1920-37. _ For revisions see table 19. pp. 17 and 18, of the May 1937 issue.
Digitized forrevised
FRASER
24
SURVEY OF CURRENT BUSINESS
Monthly statistics through December 1935, together with explanatory notes and references
to the sources of the data may be found in the
1936 Supplement to the Survey
September 1937
1936
1937
DecemAugust SeptemOctober November
ber
ber
July
July
1937
January
February
March
April
June
May
COMMODITY PRICES—Continued
WHOLESALE PRICES—Continued
(J. S. Department of Labor indexes—Con.
Farm products...
.1926=100..
Grains
do
Livestock and poultry
do
Foods
_—
...do
Dairy products
do
Fruits and vegetables.—
do
Meats
.__
do
Commodities other than farm products and
foods
1926=100-.
Building materials
.__
do
Brick and tile
do
Cement
do
Lumber ___..
..
do
Chemicals and drugs
do
Chemicals
do
Drugs and Pharmaceuticals
do_._.
Fertilizer materials
do i
Fuel, and lighting materials
do {
Electricity-do i
Gas
do
|
Petroleum products. _.
...do....I
Bides, and leather products
do
Boots and shoes
6o
Hides and skins
do
Leather
do
House furnishing goods
do
Furniture
do
Furnishings
,
do
Metals and metal products...
do
Iron and steel
do
Metals, nonferrous
do
Plumbing and heating equipment
_
_._1926=100..
Textile products
do
Clothing-.
._
do
Cotton goods
do....
Knit goods
_
do
Pilk and rayon
.do
Woolen and worsted goods
....do
Miscellaneous
do
Automobile tires and tubes—-.
do.....
Paper and pulp.
do
Other wholesale price indexes:
Bradstreet's (S6)
do....
Dun's (300)
do.-._
World prices, foodstuffs and raw materials,
combined index
1923-25==100._
Coffee
do
Cotton
-do
Rubber
do.>._
Silk
do....
Sugar
._....»._
—do
Tea.
do..._
Tin
—do
Wheat
.
do
Wholesale prices, actual. (See under respective commodities.)
PURCHASING POWER OF THE
DOLLAR
Wholesale prices..
_
1923-25 = 100Retail food pricest
— —
do.,...
Prices received by farmers._
...
do
Cost of livinet
do
81.3
88.9
82.0
81.4
83 8
70.7
Si 9
85.1
102.9
79.7
83.9
88. 2
74.8
85.2
88.5
109.0
85.0
85.5
88.9
75.4
87.2
91.3
113.0
91.4
87.1
88.9
82.4
90.6
91.4
111.5
89.9
87.0
88.7
87.8
90.3
94.1
113.2
93.7
87.5
90.2
86.5
92.0
92.2
119.2
93.6
85.5
78.5
83.5
94.9
89.8
113.9
95.9
84.2
73.1
84.1
95.9
88.5
105.7
98.3
84.7
72.0
84.5
98.0
80.1
87.3
88.3
95.5
86.1
82.2
89.0
76.5
67.4
76.8
82.8
86. 0
57. 9
95. 6
99.3
97.2
85. 4
82.0
78.3
85. 6
86.9
88.8
71.7
81.0
87.7
88.8
95.5
86.6
82.5
89.2
77.9
68.0
76.8
82.7
81.9
58.1
97.0
99.3
101.2
88.4
82.3
78.8
85.7
87.9
88.9
75.4
82.2
89.5
88.5
95.5
89.6
85.3
93.3
77.4
68.6
76.5
82.7
83.1
58.0
99.7
99.4
110.4
92.6
83.2
79.4
86.9
89.8
90.9
78.6
83.4
91.3
89.7
95.5
93.0
87.7
96.4
79.0
70.9
76.6
81.0
82.2
58.3
101.7
99.7
116.0
94.3
86.5
84.0
89.0
90.9
91.7
84.8
84.1
93.3
91.0
95.5
99.0
87.8
95.6
83.0
70.7
76.8
80.8
80.7
59.1
102.7
101.4
114 9
95.5
87.9
84.5
91.2
91.7
92.0
89.4
85.5
95.9
91.8
95.5
102.1
87.5
95.3
83.0
70.3
76.2
77.8
79.8
58.6
104.2
102.3
118.5
97.1
88.4
85.0
91.7
96.0
97.5
101.1
86.5
96.7
94.9
95.5
103.0
86.9
94.2
82.9
70.7
76.8
77.1
80.7
59.8
106.3
103.8
121.4
100.7
89.0
85.8
92.1
96. 5
99.6
97.0
86.3
97.2
95.0
95.5
103.0
84.5
91.1
79.2
70.6
77.2
78.8
83.0
60.9
106.7
106.1
117.7
100.6
89.3
86.1
92.5
95.8
99.6
91.7
86.1
96.9
95.0
95.5
102.2
83.6
90.1
78.0
70.5
77.5
79.5
84.2
61.5
106.4
107.5
114.6
98.8
89.5
86.6
92.5
95.9
99.7
91.9
0
0
f
f
76.5
70.9
80.8
79.5
60.3
31.6
81.2
71.5
47.5
80.6
76.5
70.9
80.8
80.0
60.8
30.2
80.9
71.3
47.5
80.7
76.6
71.6
81.2
82. 0
61.1
31.1
80. 5
71.5
47.5
80.8
76.7
73.5
81.5
85.5
61.2
33.4
84.3
73.4
50.1
81.5
76.7
76.3
83.1
90.3
63.0
33.8
90.5
74.5
50. 1
82.9
77.1
77.5
83.9
91.9
64.4
34.5
91.9
76.2
51.8
84.8
77.4
77.5
84.2
91.3
64.7
33.7
93.1
77.3
53.1
87.5
77.6
78.3
84.8
94.0
64.9
33.6
92.6
79.5
55.0
90.2
78.7
79.5
86.8
95.1
65. 9
33.8
93.5
81.1
56.4
93.9
78.7
78.7
87.2
92.6
65.7
32.5
93.3
80.5
56.4
94.6
78.7
78.2
89.1
89.7
64.6
32.5
93.2
79.4
56.4
95.0
78 f.
fi', i
78.9
96. 8
79.5
97.1
79.1
97.8
83.5
102.3
86.2
109.5
86.9
107.7
87.8
108.8
91.4
109.0
89.1
108.7
87.7
106.8
87.2
107.3
Oi 8
55. 9
47.9
45.2
38.2
25. 0
69.3
68. 6
84.7
73.3
55. 2
47.5
45.2
38.4
23.7
66.1
72.3
89.0
72.2
55.0
48. 4
45.2
38.6
24.5
61.6
67.7
89.5
60.6
54.9
47. 1
46.8
27.5
71.3
66.9
103.1
81.8
62.3
55.9
47.8
50.1
28.7
73.8
70.8
101.2
84.2
60.3
58.3
48.2
49.9
27.8
66.3
74.0
103. 3
79.5
64.2
55.4
53.3
56.4
28.1
64.6
78.0
124.8
86.5
65.2
55.4
52.6
54.8
27.6
63.8
80.7
117. 4
95.3
62.0
57.8
48.9
49.4
25.8
62.3
81.6
110.7
89.9
59.8
57.8
46.7
45.2
25.5
62.6
76.4
111.1
75.8
56.9
50.9
44.9
42.2
27.0
68.3
68.0
102.1
73.2
123.4
119.0
118. 5
118.8
123.4
118. 6
118.5
118.3
123.6
120.8
121.5
118.6
122.3
121.2
122.5
118.5
119.6
120.6
116.7
117.2
118.2
112.2
117.1
116.7
118.3
115.7
116.7
114.7
117.1
114.8
115.7
114.4
116.8
113.1
115.2
115.2
115.6
114.8
114.5
115.5
r 116. 0
118.5
114.4
61
51
53
44
68
52
56
44
47
'61
'42
16,162
269, 934
13, 756
244,113
13,884
r 317,842
3,741
18,462
96,179
3,225
16,710
93,433
3,566
21,794
' 124,837
241
20,985
188
10, 763
309
29,863
1,099
44, 757
1,069
55,980
1,183
70, 064
11,081
29,483
108,013
9,274
23,038
83,937
8,826
23,845
' 93, 078
216,955
235, 012
274, 399
4
v,(
M 0
?*: y
77 2
S") 1
80 7 |
7 7
*2
71
A"
80
rs 0
84.0
102.1
81.2
82.6
87.4
73.8
84.4
79.6
87.1
89.0
95.6
84,9
81.7
88.6
75.3
67.6
76.1
83.2
87. 2
57. 5
94.6
99.3
93. 3
84.2
81.7
78. 0
85. 4
86.8
88.1
71.4
K 9
"^ 1
•n 4
he
84.0
102.0
83.8
83.3
89.5
71.5
87.3
79.7
86.9
89.1
95.5
83.8
79.8
86.2
73.3
66.7
76.3
82,5
86.1
57. 9
93. 6
99.3
00.0
82.4
81.4
77.6
85.2
87.1
87.9
70.8
79 5
SJ 7
C
9 2
9J 5
M 7
79 4
*" \)
73 0
TJ 2
76 2
MI;
83.8
102.4
84.5
83.1
87.6
76.1
86.4
*<> 0
18 5
3S 6
2-> 9
G9 8
CV *
t/3 3
125
119
127
119
3
0
9
3
us. l
CONSTRUCTION AND REAL ESTATE
CONSTRUCTION CONTRACTS
AWARDED
Value of contracts awarded (Federal Reserve
indexes):
54
60
54
53
56
51
51
65
Total, unadjusted
1923-25=10065
76
42
41
38
47
47
37
39
45
Residential, unadjusted
__do
46
46
66
62
56
57
63
59
58
59
Total, adjusted.__
-do
62
68
45
45
43
45
47
40
44
47
Residential, adjusted
do
46
46
F. W. Dodge Corporation (37 States):
Total, all types:
9,746
12, 966
9, 605
13, 355
12,056
11, 269
8,731
12,912
Projects
.number.. 13, 239
13, 890
Valuation
_
_
.thous. of dol— 321, 603 294, 735 275, 281 234, 272 225, 768 208,204 199, 696 242,827 188, 257 231, 246
Nonresidential buildings:
2,922
2,467
3,361
3,319
2,629
3,079
2,997
3, 504
Projects
.number..
3,729
3, 626
14,370
10,701
16,579
14, 361
14,691
13,639
14, 623
15, 504
17, 543
Floor space
thous. of sq. ft— 24, 512
88,602
79, 071
72,956
95,969
65, 626
69, 099
65,895
80,380
Valuation
thous. of dol— 138,. 064 96,125
Public utilities:
195
214
167
205
224
222
181
229
188
Projects
number..
275
32, 364
20, 256
15, 735
14,171
19,117
21, 788
17, 945
18,029
Valuation
„
thous. of dol— 49, 992
27, 512
Public works:
582
515
395
604
1,143
1,169
870
1,221
1,782
1, 238
Projects
number. .
32,221
42,135
46, 664
27, 264
55,839
99,103
76,435
Valuation
thous. of dol— 52, 501
52, 861
68,767
Residential buildings all types:
9,195
8,290
6,389
6,224
7,584
7,982
7,180
5,406
8,014
8,253
Projects
__
..number..
24, 244
21, 553
18, 969
18, 739
18,427
21,181
19,986
20, 501
24, 393
Floor space__
thous. of sq. r e - 20, 580
90,168
79, 664
65, 487
63, 004
78, 407
68,441
71,994 100, 523
80,671
valuation
.thous. of dol— 81, 046
Engineering construction:
Contract awards (Engineering News Record) f
thous. of dol.. 260, 001 226, 595 192. 317 197,372 220,142 162,743 266, 301 173,077 189,197 156,788
r Kevised.
1 Data for July, October, December 1936 and April and July 1937 are for 5 weeks; other months, 4 weeks.
t Revised series. For data on purchasing power of the dollar, cost of living for period 1914-36, and retail food prices, for period 1923-36,see
February 1937 issue and for construction contracts awarded in 1936, see table 28, p . 18, of the August 1937 issue.
tables 5 and 6, p. 19 of the
25
SURVEY OF CURRENT BUSINESS
September 1937
Monthly statistics through December 1935, together with explanatory notes and references
to the sources of the data may be found in the
1936 Supplement to the Survey
1937
July
1936
July
August
1937
October
N
January February
m
| °ber "
March
April
May
June
CONSTRUCTION AND REAL ESTATE—Continued
HIGHWAY CONSTRUCTION
Concrete pavement contract awards:
Total
_
.thous. of sq. ycL.
Roads only
do
Highways and grade crossing projects administered by Bureau of Roads:
Highways:
Approved for construction:
Mileage
number of miles.
Allotments: total
thous. of doL.
Regular Federal aid
__do
1934-35 Public Works funds
do___.
Works Program funds
do
Under construction:
Mileage
number of miles..
Allotments; total
thous. of dol_.
Regular Federal aid
do.
Public Works Program:
1934-35 funds
do.
Federal aid
do
Works Program funds
do
Estimated total cost
do 1
Grade crossings:
Approved for construction:
Eliminated and reconstructed*_number..
Protected by signals*
do.
Works Program funds alloted
thous. of dol__
Estimated total cost
_
do.
Under construction:
Eliminated and reconstructed*.number _>
Protected by signals*
do
Works Program funds allotted
thous. of doL.
Estimated totnl cost
do
CONSTRUCTION COST INDEXES
Aberthaw (industrial building)
1914=100..
American Appraisal Co. (all types) __ 1913 = 100..
Associated General Contractors (all types)
1913=100..
Engineering News Record (all types) §
1913=100..
E. H. Boeckh and Associates, Inc.:
Apartments, hotels, and office buildings:
Brick and concrete:
Atlanta..
U. 8. av., 1926-29=100..
New York
do
San Francisco
do
St. Louis
do
Commercial and factory buildings:
Brick and concrete:
Atlanta
____U. S. av,, 1926-29=100._
New York
do
San Francisco
__
do
St. Louis
do
Brick and steel:
Atlanta
do
New York
_._
___do
San Francisco
do
St. Louis
_
do
Residences:
Brick:
Atlanta..
___do
New York
_do
San Francisco...
do
St. Louis
do
Frame:
Atlanta. __
do
New York
do
San Francisco___
do
St. Louis
do
REAL ESTATE
Fire losses.
...thous. of dol_.
Foreclosures:
Metropolitan cities*
....1926=100..
Nonfarm real estate*
1934=100..
Loans of Federal agencies:
Federal sayings and loan associations:
Associations, total
...number..
Associations reporting
do
Total mortgage loans outstanding*
thous. of doL.
Federal Home Loan Bank:
Outstanding loans to member institutions
thous. of dol._
Home Owners' Loan Corp.:
Loans outstanding*
do
5,187
3,562
7, 913
6,208
5,903
4,648
7,613
5,196
6,082
4,482
3,769
2,550
5,468
4,026
3,385
2,836
2.371
1,456
3,352
2,564
4,340
3,155
6,639
5,495
6,575
4,861
i 3, 046
41,152
34,885
6,267
4,143
50, 400
22, 604
4,345
23,451
3,686
50,476
27, 929
4, 248
18, 299
3,173
49,123
30,601
4,044
14,479
2,750
46,103
29, 360
4,148
12, 595
2, 574
42, 093
27, 034
3,809
11,250
2,635
42, 090
29, 059
3,671
9,360
2,880
43,899
32, 710
3,291
7,898
2,993
44, 472
34, 247
2,902
7,323
3,323
46, 743
36,315
2,883
7,545
3,426
46, 724
35, 297
3,108
8,319
4,482
48,189
38, 550
2,436
7,203
3,582
49, 263
39,418
2,596
7,249
i 8, 694
138, 786
101,062
13,185
212,546
61, 714
12,812
202, 765
65,213
11,949
194,477
69,488
10,335
174,781
70,586
8,881
158,537
69,368
8,003
141, 069
65, 664
7,617
133, 553
65,222
7,923
136, 039
69, 809
8,041
139, 683
76,168
8,278
144, 531
85,155
8,896
149, 535
92, 071
9,215
152, 050
98, 968
0
37, 724
242, 875
0)
33,397
195
117,241
278,978
26, 680
147
110, 725
270,622
22,929
32
102,028
266, 528
20, 379
32
83, 784
248, 024
17,206
32
71,931
229,527
13,461
11
61,934
207,315
12,561
0
55,770
199,498
12.491
0
53,738
205, 239
12, 540
0
50, 975
214,697
11,842
0
47, 534
228, 204
12, 048
0
45, 389
239, 730
10,910
0
42,172
248,187
164
350
425
502
350
581
289
624
254
620
228
615
206
542
173
542
157
419
150
396
142
397
132
393
167
360
12, 323
13,374
34, 081
35, 305
29,026
30, 367
26,575
27,817
23,615
24,185
20, 233
20,826
17,971
18, 606
16,037
16, 621
13, 526
14, 049
12, 842
13, 257
13, 381
14,079
13,484
14,321
15, 730
16, 881
704
363
1,221
12
1,246
33
1,238
33
1,192
30
1,149
42
1,081
98
1,039
100
1,014
309
969
341
935
345
873
346
824
375
79,110
82, 229
101,014
102, 667
108,272
110,161
110,865
112,930
111, 326
113,915
109, 016
111,614
104,876
107, 645
101,381
103,808
100, 593
102,853
98, 464
100,718
95, 690
98,004
92, 211
94, 452
87, 677
90, 671
185
163
163
183
165
166
167
195
169
171
174
203
178
181
182
201
184
180
180
180
181
184
184
186
186
192
223.5
225.3
230.3
233.3
238.2
1
(0
191
178
178
179
241.8
204.4
208.1
208.1
211.5
212.7
220.7
223.5
93.8
126.2
110.7
114.3
83.3
107.0
99.0
104.5
83.3
108.4
106.1
104.5
83.3
108.4
107.3
104.5
84.8
108. 4
107.8
105.2
85.1
108.3
108.2
106.2
85.2
108.4
108.2
106.2
86.9
109.5
111.8
108.4
88.1
110.1
108.4
109.8
91.8
111.3
109.4
110.6
93.3
111.5
109.7
113.0
93.2
111.7
109.7
113.0
94.3
121.8
110.7
114.4
96.4
127.6
114.8
118.7
86.2
110.9
104.3
105.9
86.2
112.0
114.4
106.0
86.2
112.0
114.5
106.0
87.0
112.0
114.9
106.6
87.2
112.0
115.2
107.4
87.3
112.1
115.2
107.4
88.6
111.7
118.1
112.1
90.5
112.0
113.0
112.9
95.3
113.3
113.8
113.5
95.8
113.4
114.0
117.1
95.7
113.6
114.0
117.1
96.7
122.2
114.8
118.8
94.7
126.4
113.1
118.6
84.6
107.7
98.2
105.9
84.6
109.3
106.4
106.2
84.6
109.3
107.7
106.2
85.6
109.3
108.1
106.8
85.8
108. 5
108.9
107.6
86.0
108.7
108.9
107.6
88.3
111.1
112.7
109.7
89.2
112.2
108.8
112.8
94.0
113.9
110.7
114.4
94.8
114.8
111.6
117.6
94.6
115.1
111.6
117.5
95.4
120. 5
113.1
118.8
85.5
121.6
104.9
107.0
74.1
103.0
93.4
100.4
74.1
104.0
98.3
99.2
74.5
104.0
98.6
99.2
76.1
104.0
99.0
98.8
76.3
104.1
99.2
100.6
77.0
104.8
99 2
100.6
80.1
106.5
102.4
104.1
82.0
108.5
98.1
105.0
84.3
109.6
99.8
105.4
88.4
109.6
101.3
106.0
88.4
110.0
101.3
105.9
88.3
119.4
104.9
107.8
79.2
116.2
96.4
98.3
67.1
97.4
85.2
92.2
67.1
98.4
87.8
90.9
67.6
98.4
88.3
90.9
68.0
98.4
88.7
91.5
70.0
98.4
88.9
92.3
'70.7
99.1
88.9
92.3
75.0
101.1
92.2
96.1
76.6
103. 5
92.2
97.2
78.1
104.9
94.0
97.6
82.7
104.9
95.8
98.0
82.7
105.0
95.8
97.9
82. 3
115. 0
96. 4
99.2
19,812
22,357
21,714
20, 414
20,439
22,808
30,134
25,070
28, 655
29, 319
26, 664
21, 438
19, 525
214
68.2
279
82.7
259
78.3
278
85.7
259
77.8
235
75.1
268
84.4
222
69.9
196
65.1
230
74.0
237
73.3
230
74.7
' 243
76.3
1,293
1,181
1,165
1,025
1,175
1,076
1,183
1,062
1,192
1,080
1,206
1,046
1,212
1,065
1,228
1,143
1,240
1,157
1,249
1,168
1, 257
1,157
1,270
1,166
1,286
' 1,181
722, 442
465, 682
497,852
507, 574
532, 064
531, 078
544,107
576,299
611,212
630,680
644,068
679, 949
' 703,996
169, 568
122,094
125, 211
129, 752
134,929
137, 250
145, 394
143,738
141,198
142,716
146,146
153,488
167,054
524.129
,920,739
,897,367 2,869,660 2,883,503 2,801,827
,765,098 2,711,451 2,680,230 2,661,542 2, 625, 493 2,591,115 2,556,401
DOMESTIC TRADE
ADVERTISING
Printer's Ink indexes (adjusted for seasonal
variation):
Combined indext
1928-32=100..
Farm papers
do
Magnzines
do. Newspapers
. _
do
Outdoorf
do
Radio
do
94.8
69 7
103. 5
87.7
82.8
283.4
90.1
73.4
90.3
87.1
69.2
224.7
88.4
80.2
87.2
84.9
71.0
230.0
91.4
76.8
91.6
86.9
73.3
268.2
93.4
71.7
89.6
90.6
74.2
253.7
94.9
75.3
97.1
91.1
74.1
239.2
99.2
92.9
101.1
95.2
75.6
244.4
86.5
70.3
89.3
81.4
74.8
241.5
i Does n o t include a small a m o u n t of mileage p r o v i d e d b y t h e 1934-35 P u b l i c W o r k s funds, w h i c h are n e a r l y e x h a u s t e d .
91.9
76.7
94.3
88.3
68.5
234. 8
94.1
72.0
97.8
90.1
75.7
228.6
96.5
78.0
102.1
91.4
82.5
230.7
94.8
82.6
97.8
89.0
85.4
247.0
98.3
82.5
101.9
92.5
79.5
289.4
«• Revised.
•New series. Data on number of grade crossing projects represent a breakdown of the total projects shown in the 1936 Supplement. For the foreclosures indexes, earlier
data, together with a complete description of the indexes, see table 18, p. 20 of the April 1937 issue. Total mortgage loans outstanding of Federal Savings and Loan Associations represent the combination of loans of "new associations" and "converted associations" which were shown separately in the 1936 Supplement to the Survey. The Home
Owners' Loan Corporation data are for loans closed through June 12, 1936, when lending operations ceased, and for loans outstanding thereafter. The June 1936 figure which
was $3,092,871,000, represents the total of all loans made during the full period of lending operations.
§Index as of Aug. 1, 1937, is 243.0,
fData revised beginning January 1934. Revisions not shown on p. 25 of the July 1937 Survey will appear in a subsequent issue,
10570—37
4
26
SURVEY OF CURRENT BUSINESS
Monthly statistics through December 1935, together with explanatory notes and references
to the sources of the data may be found in
the 1936 Supplement to the Survey
1936
1937
July
September 1937
July
1937
Decem- January
October NovemAugust September
ber
ber
February
March
5,714
654
25
65
69
1,631
11
405
0
436
1, 575
843
6,345
1,099
25
108
76
1,728
10
517
0
510
1,759
513
5,980
1,018
10
133
73
1,721
9
593
0
570
1,517
336
5,876
1,070
26
141
61
1, 630
7
528
0
621
1,484
307
5, 555
604
32
101
71
1, 508
4
560
0
616
1,492
266
15, 537
1,348
770
610
397
1,682
589
414
245
732
2,189
6, 561
2,762
17, 061
1,473
881
882
438
1, 606
774
403
201
691
2,314
7,398
3,206
17,829
1, 528
1,028
868
451
1, 554
797
580
315
724
2,315
7,669
3,258
14, 605
1,219
850
596
399
1,280
456
461
188
689
2,098
6,369
3,023
126,134 131,052
24, 632 25, 758
101, 502 105, 294
6,956
5,413
2,218
2,390
24, 406 24,135
69, 292 71, 985
130, 835
27,132
103, 702
7,462
1,807
24, 019
70, 414
121,784
25, 798
95, 986
7,332
2, 065
22, 775
63, 814
April
May
June
DOMESTIC TRADE—Continued
ADVERTISING—Continued
Radio advertising:*
Cost of facilities, total
thous. of dol._
Automotive-—
do
Clothing
do
Electric home equipment
do
Financial
...do
Foods.
.-_
_
do
Home furnishings, etc.—
do
do
Soap, ccleansers,
e n s , etc
t
Offi ffurnishings,
Office
i h i
supplies..
l
i
ddo
Smoking
S
o i n g materials
ateri
do
Drugs and toilet goods..
do.
All other
.do.
Magazine advertising;*
Cost, total
-do.
Automotive
do.
Clothing
_
.do.
Electric home equipment..
___do_
Financial
do.
Foods
__do_
Home furnishings, etc...
do.
Soap, cleansers, etc...
__
do.
Office furnishings, supplies..
do
Smoking materials
do.
Drups and toilet goods
do.
All other...
do.
Lineage, total
thous. of lines..
Newspaper advertising:
Lineage, total (52 cities)
do.
Classified.._
do
Display, total
.do.
Automotive
do.
Financial
.-..
...do.
General
do.
Retail
do.
3,832
492
5
45
33
1,290
23
285
0
423
982
254
3,777
8,891
1,528
257
298
240
1,670
148
366
75
483
1,790
2,036
1,967
8,493
'1,551
' 230
86
249
1,414
99
337
136
545
1,757
'2,089
1,695
98.499
21,232
77, 266
6,593
2,219
18, 287
50,167
4, 894
770
24
27
44
1, 333
29
314
6
439
1, 273
635
6,723
1, 164
51
1
53
1, 559
65
400
17
359
1, 475
1, 579
6,126
1,031
56
22
70
1,670
91
410
13
391
1,659
713
6,185
944
39
16
85
1,821
51
404
1,752
610
6,061
1,094
30
35
74
1,751
5
355
0
421
1,699
597
11, 104
1, 365
695
191
358
1, 585
665
446
286
593
1, 938
2, 982
2 084
'14 284
1 364
895
477
425
2,198
1 051
531
304
657
2 642
'3 740
2,637
14, 758
2, 290
696
325
421
2,452
798
501
263
648
2,926
3,438
2,736
12, 203
1, 419
535
545
310
1,977
561
236
341
674
2,122
3,482
2,731
9,042
1,315
297
124
306
1, 058
147
220
165
677
995
3, 738
2,031
12, 634
1,074
393
290
329
1,734
309
459
186
696
1,757
5, 407
2, 399
99,166 114, 387
22, 546 22 521
76, 620 91, 866
4,908
4, 257
1,646
1, 641
16,186
21 053
53,880
64, 916
130 635
2'S 984
112 052
6 183
1 860
27 411
iys
131,986 130, 762
22. 646 22,945
109, 340 107,817
4,246
9,812
2, 151
1,848
18, 186
24,227
83, 234
73,452
99, 588
21,521
78,066
3,348
2,970
17,176
54, 572
103, 092
20,615
82, 477
3,896
1,986
22, 814
53, 781
62.0
62.4
2,620
2,228
38
1,207
33
249
0
367
976
GOODS IN WAREHOUSES
Space occupied, merchandise in public
warehouses
.percent of total.
61.0
61.3
61.7
2,182
1,910
2,026
61.7
61.6
64.8
65.7
'67.9
2,417
2,122
NEW INCORPORATIONS
Business incorporations (4 States)._.number..
2, 156
2,114
2,171
POSTAL BUSINESS
Air mail:
Pound mile performance
Amount transported
Money orders:
Domestic, issued (50 cities):
Number
Value
Domestic, paid (50 cities):
Number
Value
Foreign, issued—value
Receipts, postal:
50 selected cities
50 industrial cities
,055,015 1,051,115
1,060,488 984, 288 1,166,914 907, 003 1,003,256 1,174,070 1,097,608 1,104,137
1,616,191 1,623,239 1,528,942 1,629,711 1,511,117 1,778,912 1,410,974 1,538,470 1,799,916 ' 1.665,256 1,690,041
thousands.
pounds.
thousands.
thous. of dol.
4,042
40, 847
3,764
38,354
3,633
36, 655
3,665
37, 237
4,071
40, 616
3, 907
38, 315
4,596
43,849
4,116
40,019
4,046
38, 383
4,638
44, 581
4,269
41, 867
4, 055
39, 735
4,265
41, 750
thousands.
thous. of dol.
do...
12, 928
104,192
12, 598
103, 085
2,482
11,573
94,696
2,741
12, 772
103, 480
2,720
14,921
119,437
2,319
13, 316
105, 703
2,633
16,221
122, 826
5,712
12, 596
95, 752
2,429
11, 826
90, 413
2,502
15, 374
116,518
3,167
14,055
107, 985
2,744
13, 349
103,410
2,348
13,918
108, 575
2,601
thous. of dol.
do...
26, 600
3, 292
26,673
3,192
26, 037
3,022
29, 294
3,242
32, 880
3,678
29,217
3,226
41,345 ° 27,892
3,418
4,846
27, 754
3,312
33, 763
3,882
31,129
3,646
29,843
3,376
29, 623
3,453
RETAIL TRADE
Automobiles:
New passenger automobile sales:
T
92.9
117.3
71.0
123.5
134. 3
90.1
85.5
56.5
130.4
141.3
146.5
144.6
Unadjusted
1929-31 = 100.
113.1
r
92.0
83.0
104.5
105.0
85.5
175.0
129.5
139.5
104. 0
151.0
123.5
'99.0
Adjusted
_
do...
102.5
Chain-store sales:
Chain Store Age index:
Combined index (20 chains)
114.5
109.0
110.0
109.6
110.0
106.4
110.0
114.0
112.0
109. 5
111.0
113.0
ay. same month 1929-31=100._
108.6
Apparel chains
118.6
117.0
125.0
117.2
112.0
130.0
117.0
124.0
127.0
123. 0
130.0
av. same month 1929-31 = 100.. 124.0
126.0
Grocery chains t
105.6
102.0
103.0
100.0
99.8
100.0
104.5
105.0
104.0
100.0
99.2
100.0
av. same month 1929-31=100..
103.0
Variety store sales:
Combined sales of 7 chains:
97.2
86.5
97.8
97.2
89.0
100.4
81.3
98.3
104.5
195.7
70.3
' 100. 7
97.1
Unadjusted
1929-31 = 100.
102.4
97.7
109. 0
96.2
98.9
97.4
103.0
106.1
94.4
98.3
' 105. 9
103.3
Adjusted
....do...
109.2
H. L. Green Co., Inc.:
2,412
2,501
2,702
2,430
2,454
2,774
2,805
5,847
2,018
3,027
2,905
2,017
2,826
Sales
thous. of dol.
132
132
136
134
136
'129
135
136
133
136
136
Stores operated
..number.
135
136
S. 8. Kresge Co.:
11,353
12,349
11,169
11, 753 13, 540 12, 214 24, 351
11,199
9,843
12,635
12,650
9,349
Sales
thous. of doL
13, 001
735
732
731
733
730
731
Stores operated
..number.
729
729
735
729
729
728
734
B. H. Kress & Co.:
6,652
6,785
6, 559
6,525
7,321
5,595
6,400
14, 748
7,447
7,307
5,109
7,007
Sales..
thous. of dol.
235
235
235
235
234
23."
235
235
235
235
234
235
235
_Stores operated
number.
McCrory Stores Corp.:
3,002
3,133
3,010
6,714
2,662
3,023
3,365
3,511
3,209
2,510
3,556
3,266
Sales
thous. of dol.
197
195
194
194
197
195
195
196
196
194
Stores operated
number.
195
194
G.C. Murphy Co.;
2,922
2,907
6, 379
3,379
3,082
3,502
3,460
2,974
2,550
3, 637
3,268
3,626
2,519
Sales
thous. of dol.
192
192
195
191
194
195
195
194
195
195
Stores operated
number.
195
195
195
F. W Woolworth Co.:
23,434
2fi,
733
23,891
24,
727
•
22,
860
23,186
45,
506
19,
758
24,
815
21,
858
24,562
24,237
18, 649
Sales.
thous. of dol.
1,991
2,008
1,993
1,990
1, 996
2,002
1,994
1,995
1,997
2,006
1,998
2,000
2,003
Stores operated
number..
« Receipts for Louisville not included.
r
Revised.
* New series. Data on radio and magazine advertising cost are compiled by the Publishers Information Bureau, Inc., successors to National Advertising Records, and are
not comparable with data published prior to those shown in the January 1937 issue. Data on radio advertising beginning with 1932 are shown m table 38, p. 20, of this issue.
Revised data on magazine advertising not shown above will appear in a subsequent issue.
f Grocery chain-stores sales indexes in continuation of those shown on p. 14 of the May 1937 Survey are: Unadjusted, February 97.8, March 100.1, April 99.7, May 98.3,
June revised'95.2, and July preliminary 91.5; adjusted Maxell 99.1, April 96.8, May 96.9? June revised, 93.8, July preliminary 93.3, and May 1936 revised, 90.7-
Monthly statistics through December 1935, together with explanatory notes and references
to the sources of the data may be found in the
1936 Supplement to the Survey
27
SURVEY OF CURRENT BUSINESS
September 1937
1937
July
1936
July
1937
Decem- January
August SeptemOctober November
ber
ber
DOMESTIC
February
March
April
May
June
TRADE—Continued
RETAIL TRADE—Continued
Restaurant chains (3 chains):
Sales
thous. of dol.
Storos operated
number
Other chains:
W. T. Grant & Co.:
Sales
thous. of doL
Stores operated..
number
J. C. Penney Co.:
Sales
thous. of doL.
Stores operated
number..
Department stores:
Collections:
Installment account
percent of accounts receivable..
Open account
do
Sales, total U. S., unadjusted.. 1923-25=100..
Atlanta
do
Boston
do
Chicagof
_
do
Cleveland
do
Dallas
_
do
Kansas City_.
...1925=100..
Minneapolis
1929=100..
New York
1925-27 = 100..
Philadelphia..
1923-25=100..
Richmond
_
do
St. Louis H
do
San Francisco...
do
Sales, total U. S., adjusted
do.._.
Atlanta
__
do
Chicngof...
do
Cleveland.
_.do
Dallas
do
Minneapolis
1929=100..
New York_.
1925-27= 100..
Philadelphia.
1923-25=100..
San Francisco
do
Installment sales, New England dept. stores
percent to total sales..
Stocks, total U. S.f end of month:
Unadjusted.
1923-25=100..
Adjusted...
do
Mail-order and store sales:
Total sales, 2 companies
thous. of dol..
Montgomery Wand & Co
do
Sears, Roebuck & Co
_.do
Rural sales of general merchandise:
Total U. S., unadjusted
1929-31 = 100..
Middle West*
do___.
East*
do....
South*
do
Far West*
_
do..,.
Total U. 8., adjusted..
do....
Middle West*
do....
East*...
-.do....
South*
do
Far West*
do....
3,569
3,510
3,490
3, 655
3,800
3,542
3,943
3, 581
3,368
3,774
3,677
3,654
346
349
349
349
346
346
346
346
347
348
347
348
7,706
7,075
6,925
7,443
9,333
8,492
16, 867
5, 626
5,617
7,616
7,176
8,614
479
473
472
472
474
477
477
477
477
477
477
477
8,463
479
20,409
1, 508
18, 475
1,488
19, 369
1,489
22, 529
1,491
28,952
1,494
26, 072
1,496
37,133
1,496
15,928
1,498
14,244
1,499
19, 823
1,500
20, 230
1, 503
20, 820
1,503
22, 254
1,508
15.4
45.1
18.2
45.6
16.2
42.1
16.5
42.8
17.8
48.4
17.0
47.1
17.3
47.0
16.4
47.4
16.4
44.0
18.1
46.8
17.3
46.9
17.0
47.0
95
116
77
101
105
105
88
89
85
80
113
85
93
93
115
100
98
101
88
90
79
97
16.3
46.4
90
100
79
98
95
93
"78
91
85
75
-•110
79
86
93
111
100
98
101
94
88
75
97
65
80
53
71
71
74
63
67
64
51
77
60
79
94
114
98
93
105
89
85
73
97
63
78
54
65
83
71
59
61
62
52
79
55
77
91
111
91
83
102
81
82
70
94
68
96
54
75
72
77
70
75
63
56
78
60
88
86
123
91
85
107
86
81
73
92
94
116
82
97
89
109
92
95
87
71
104
86
97
88
123
95
86
103
88
84
79
93
100
119
92
104
98
120
101
112
97
84
137
103
98
90
100
95
92
104
94
85
74
95
105
120
85
101
100
113
90
89
106
91
120
89
101
94
105
93
95
97
91
90
79
95
161
187
138
164
158
175
151
139
156
136
204
143
171
92
110
98
96
108
94
88
76
100
72
85
70
78
69
78
64
71
69
54
79
62
80
93
107
97
91
93
79
89
75
98
76
95
57
78
82
89
68
64
72
57
77
63
81
95
108
97
101
105
86
85
3,462
346
96
90
114
74
102
95
98
89
90
78
74
111
88
97
93
116
104
103
98
90
85
80
102
8.5
8.5
14.9
10.8
10.9
9.7
6.3
10.6
12.0
9.6
9.7
9.0
6.7
69
74
59
64
65
67
71
68
76
69
80
71
67
71
66
74
72
76
78
76
79
76
78
76
73
73, 655
30, 439
43, 216
65,270
25, 636
39, 634
66, 325
27,422
38,903
80,974
33, 357
47, 617
103, 590
45,455
58,135
85, 993
36, 979
49, 014
118, 222
51, 789
66,433
54,427
22,578
31,849
53, 831
22,161
31,671
78,625
34,931
43, 694
89, 681
40, 096
49,585
92, 627
39,140
53,487
89, 258
37, 060
52,198
92.0
83.2
89.3
100.1
115.4
119.5
106.7
113.7
144.0
139.1
88.3
81.0
85.5
97.9
107.7
114.7
103.9
108.9
140.9
129.8
96.2
88.6
97.9
103. 3
113.3
111.9
101.3
110.6
136. 0
123.1
122.3
107.0
112.0
160.6
147.8
123.6
107.5
119.7
156.7
126.3
155.1
137.7
149.6
225.0
148.4
127.1
116.2
126. 2
163.6
126.8
150.8
136.0
154.8
195.4
150. 4
122.6
110. 5
135.2
146.9
124.8
186.1
150.5
195.9
212.4
208.7
131. 0
106.0
137. 5
153.9
134.2
88.6
81.0
88.4
107.5
95.6
106.7
98.7
105.3
129.5
128.3
93.8
85.2
95.2
123.1
92.0
103.7
98.5
104.1
123.1
116.4
117.4
107.1
120.4
147.5
119.0
126.2
119.0
128.1
158.6
136.0
116.4
106. 5
122.0
138. 8
121.2
121.2
108.1
122.6
150.2
131.0
119.4
109. 9
127.0
132.0
131. 2
127.1
113.2
130.3
' 148. 3
145.8
117.5
109. 6
132.8
124.6
134.9
124.4
112. 4
136.2
144, 9
142.7
76
89
106
75
97
98
100
85
87
81
69
100
86
90
93
107
98
91
106
84
87
68
96
EMPLOYMENT CONDITIONS AND WAGES
EMPLOYMENT
96.5
91.2
99.0
102.1
93.5
96.9
98.1
102.3
101.7
95.5
96.7
101.1
' 101.1
Factory, unadj. (B. L. S.)t
.1923-25=100..
Durable goods groupf
do
' 98. 8
99.2
84.6
84.7
85.7
89.2
91.0
92.7
90.4
93.2
96.4
98.6
99.9
Iron and steel and products!_.do
r 101. 4
107.6
93.0
95.3
97.2
98.9
99.3
100.4
100.0
103.4
106.8
108.9
110.1
Blast furnaces, steel works, and rolling
105.7
102.8
107.2
107.9
107.7
109.3
113.6
119.6
120.2
mills
1923-25=100..
111.5
117.1
122.0
'106.2
Structural and ornamental metal work
74.8
73.2
71.0
75.3
70.8
74.9
74.2
1923-25=100,.
70.1
71.8
80.6
75.7
76.9
'78.7
Tin cans, etc
do
' 109. 2
113.7
102.4
109.1
111.6
102.7
95.8
94.4
95.8
98. 4
100.2
102.2
104.9
Lumber and products
do
'72.9
72.7
65.6
66.6
68.2
69.2
67.8
67.1
65.0
65.8
69.8
70.6
71.6
Furniture
do
'89.1
87.1
76.9
81.7
85.0
86.9
88.3
87.8
85.9
86.1
87.5
86.9
87.4
Millwork
do
'57.5
57.3
49.5
52.2
52.6
53.4
53.4
54.1
53.8
55.0
56.7
57.7
57.3
Sawmills
do
' 55. 7
56.3
51.9
50.9
51.9
52.4
49.9
49.0
46.8
47.6
52.3
53.4
54.7
' 129. 2
Machinery f
do
129. 5
104.0
104.4
107.5
109.6
111.4
114.1
114.9
118.6
121.2
124.3
126.1
' 140. 6
Agricultural implements!
do
136.3
110.1
95.7
93.9
97.5
93.2
102.9
111.3
119.0
131.5
137.5
139.7
' 119. 9
Electrical machinery, etc
do
120.5
91.8
92.4
96.5
99.6
103.0
105.8
104.0
109. 3
111.2
114.6
117.8
Foundry and machine-shop products
91.2
92.5
94.3
95.6
97.0
99.4
101.3
111.7
104.4
109.7
' 112.7
112.4
1923-25=100..
106.8
' 182. 3
Radios and phonographs
do
195.2
193.5
210.7
216.3
218. 3
210.6
202.7
187.1
170.6
163.0
158.4
139.9
' 113. 9
Metals, nonferrous
do
111.5
94.5
98.4
102.9
108.3
110.0
111.6
106.9
111.5
114.6
115. 5
115.5
129.5
Aluminum manufactures
do
131.5
110.5
111.0
111.5
117.2
118.8
117.7
118.9
122.2
124.2
124.4
125. 8
Brass, bronze, and copper products
102.7
107.
1
112.9
121.7
124.1
111.3
116.2
118.5
125.7
'
122.
3
100.1
127.6
118. 8
1923-25=100..
' 159. 2
Stamped and enameled ware
do
154.7
135.0
138.4
143.4
154. 3
156.0
162. 4
154.8
159.1
165.3
162.4
162.8
'64.0
Railroad repair shops
do
64.2
56.9
58.4
59.3
60.4
60.6
61.2
61.2
61.6
62.2
63.3
63.6
'62.7
Electric railroad
do
63.6
62.2
62.4
62.4
63.4
63.3
63.4
63.4
63.3
64.0
63.8
63.4
'64.1
Steam railroad
do
64.2
56.5
58.1
59.1
60.2
60.4
61.0
61.0
61.5
62.1
63.3
63.6
' Revised
* New series. See pp. 14-17 of the September 1936 issue for figures for period Jan. 1929-July 1936.
t Revised series. For factory employment revisions beginning January 1934, see table 12, p . 19, of the March 1937 issue. Indexes of department store sales in the Chicago
Federal Reserve district, both unadjusted and adjusted, were revised for the period 1923-36. See table 23, p. 16 of the July 1937 issue.
1 A new series on department store sales in the St. Louis Federal Reserve district is shown in table 22, p. 16 of the July 1937 issue. This will be substituted for the present
data in a subsequent issue.
28
SURVEY OF CURRENT BUSINESS
Monthly statistics through December 1935,
together with explanatory notes and references to the sources of the data may be found
in the 1936 Supplement to the Survey
1936
1937
July
September 1937
July
1937
Decem- January FebruOctober NovemAugust September
ber
ber
ary
March
April
May
June
EMPLOYMENT CONDITIONS AND WAGES—Continued
EMPLOYMENT—Continued
Factory unadjusted—Continued.
Durable goods group—Continued.
Stone, clay, and glass products
68.2
69.1
67.3
68.0
67.0
71.6
1923-25=100..
50.2
49.6
49.6
50.7
50.3
Brick, tile, and terra cotta
do
54.0
63.0
64.1
65.1
65.5
64.2
69.4
Cementdo
99.8
98.9
107.6
99.3
103.6
97.6
Glass
do
87.3
101.9
102.1
115.0
122.5
93.0
Transportation equipment §
do
133.5
111.1
98.3
90.3
110. 0
128.3
Automobiles
do
54.2
57.3
58.7
57.5
59.0
Cars, electric and steam railroad§~do
74.0
98.9
99.4
102.4
102.7
97.4
99. 6
Shipbuilding
do
98.2
102.8
104.3
105.9
104.7
103.3
Nondurable-goods group§.
do
112. 7
113.4
119.5
119.7
120.3
124.4
Chemicals and products—
do
122. 5
123.0
139.5
127.1
129.9
130.0
Chemicals
do
100.1
100.3
105.3
103. 1
104.4
105. 9
Druggists' preparations
do
1262
124.4
126.
7
128.6
125.3
136.6
Paints and varnishes
do
121.5
118.3
127.3
122.3
120.6
121.1
Petroleum refining
--do
356.
7
360.1
361.5
347.3
364.0
403.1
Rayon and products
do
124.4
116.9
127. 9
135.9
124.2
114. 1
Food and products...
do
131.3
132.6
130.1
136. 6
129. 2
133.0
Baking
do.
234.2
214.5
209.6
190.7
183.0
220.0
Beverages
do.
89.9
90.8
91.5
90.9
91.8
96.9
Slaughtering and meat packing
do
94.1
92.8
91.4
94.4
89.0
96.7
Leather and products
do.
98.6
92. 1
95.4
94.5
92.9
87.8
Boots and shoes
..do.
97.4
97.2
94.8
93.8
95.6
98.4
Leather
do.
105.5
98.5
102.6
104.0
105.0
100.1
Paper and printing
do.
119.4
108.3
109.1
110.4
110.7
111.9
Paper and pulp..
do
94.3
97.9
98.9
90.8
92. 2
100. 0
Rubber products
do.
89.6
83.9
86.0
86.6
89.0
90. &
Rubber tires and tubes
do.
103.4
100.2
104.3
104.8
96.3
101.8
Textiles and products
do
98.0
91.7
94.7
95.8
97.1
98.8
Fabrics
do.
102.7
104.6
115.8
118.4
118.3
116.0
Wearing apparel
do.
63.6
60.0
64.5
65.9
60.6
63.0
Tobacco manufactures
do
Factory, adjusted (Federal Reserve)t§
103.3
93.8
93.4
94.4
96.2
92.8
1923-25=100100.4
85. 6
85.7
86.6
88.2
89.9
Durable goods group§
_do_
108.3
93.5
95.3
96.8
98.4
99.6
Iron and steel and products§
do
Blast furnaces, steel works, and rolling
108
109
120
103
106
109
mills
—1923-25=100Structural and ornamental metal work
73
72
79
70
73
73
1923-25=100101
109
100
98
101
98
Tin cans, etc
do
72.7
65.8
65.6
65.1
66.2
66.2
Lumber and products
do
90
79
81
82
81
84
Furniture
do
56
52
53
54
Millwork
do_...
to
56
49
50
50
49
Sawmills
—do
51
131.1
LOS. 3
105.3
106.8
108.4
110.4
Machinery^
_
do
145
117
101
Agricultural implements!...do
96
102
95
121
92
92
97
100
Electrical machinery, etc—
do
103
Foundry and machine-shop products
95
114
92
93
96
1923-25=100-.
97
212
186
176
210
209
Radios and phonographs
do
171
115.4
97.8
102.5
105.2
Metals, nonferrous
do
101.1
106.7
138
Aluminum mfrs
do.__
116
116
112
115
118
121
102
106
109
110
Brass, bronze, and copper products.do...
111
156
136
141
Stamped and enameled ware
do
143
153
154
64.8
57.4
58.7
59.1
Railroad repair shops
do
60.1
60.6
64
Electric railroads
do
62
62
62
63
63
65
57
59
58
60
Steam railroads
do.__
60
70.3
Stone, clay, and glass products.
do.__
66.4
66.1
67.2
66.3
65.7
47
51
Brick, tile, and terra cotta.
do_._
47
47
48
47
61
59
61
64
65
Cement
_do_—
55
101
102
99
103
110
96
Glass
—do_—
100.9
105.1
100.8
126.
105.0
112.3
Transportation equipment^.
do_._
139
116
109
109
113
123
Automobiles
do__.
71
52
56
56
61
64
Cars, electric and steam railroad§_do
102
101
102
102
102
98
Shipbuilding
_
do...
106.5
100.4
101.8
101.6
101.2
102.9
Nondurable goods group§
do...
127.8
115.7
115.4
118.5
117.9
118.1
Chemicals and products
do
138
121
122
126
129
129
Chemicals
_do_ —
111
105
102
101
100
102
Druggists' preparations
_do_-.
126
127
136
129
129
127
Paints and varnishes
do__.
126
120
117
120
119
121
Petroleum refining
_
do.__
416
358
360
360
354
357
Rayon and products
do.._
119.0
112.4
113.2
113.3
112.7
113.4
Food and products
do
136
129
129
129
131
132
Baking
do
196
195
209
196
187
197
Beverages
do
91
92
92
92
91
96
Slaughtering and meatpacking
do
90.9
95.6
90.3
91.4
92.0
94.9
Leather and products
do
07
91
91
91
92
95
Boots and shoes
do
91
94
96
98
99
96
Leather
do.
99.8
106.8
101.1
102.7
103.1
103.6
Paper and printing
do
108
109
119
110
111
112
Paper and pulp.
_do—.
91.4
93.9
99.7
95.8
98.3
99.4
Rubber products
do...
82
87
87
89
92
93
Rubber tires and tubes
do
106. 4
102.6
104.9
102.6
104.4
101.7
Textiles and products.
do
102.0
95.5
98.1
96.8
95.5
97.3
Fabrics
_
_do^ _
114.0
116.6
117.0
113. 6
118.4
Wearing apparel
do...
113.4
61.3
61.2
61.9
Tobacco manufactures
do...
61.7
61.1
62.4
' Revised.
fRevised series. See tables 1 and 3, pp. 14-20, of the January 1937 issue.
{Revised series. For revisions beginning January 1934 see table 12, p 19, of the March 1937 issue.
67.1
48.8
62.0
100.6
122.1
138. 7
56.8
89.9
104.0
119.3
129. 1
106.6
127.5
119.5
362.4
110.6
132.2
181.0
99.4
94.0
94.1
98.4
106.0
112.8
101.9
92.5
106.4
101.7
114.8
63.3
62.5
45.6
57.1
92.8
112.7
125.2
55.7
94.5
103.0
120.2
130.8
106. 5
128. 0
119.4
367.6
105.2
130.5
182.3
96.4
97.5
99.0
97.0
104.3
113.7
101.3
92.7
107.1
102.3
115.6
57.1
67.2
46.6
58.2
107.6
116. 0
127.4
62.9
98.7
105.2
121.9
131.4
110.0
131.2
119.6
370.4
105.1
132.2
182.1
91.3
99.9
101.9
97.5
105.7
116.1
101.6
93.4
110.2
103.6
122.6
60.5
70.3
49.3
63.5
110.1
121.0
131.6
70.2
106. 8
106.1
124.9
134. 0
112.2
134.6
120. 5
373. 3
105.7
133.7
192. 5
90.7
100.8
102. 7
98.8
107.1
117.6
96.7
81.2
111.2
103.8
125.5
60.8
73.0
53.3
66. 9
110.9
125.4
136.2
75.1
109.0
105.9
126. 6
135. 6
111.5
138.2
122.0
378.1
107.7
132.7
196.7
88.4
98.3
99.3
100.0
107.2
119.1
96.7
81.4
109.9
103. 7
121.8
60.2
74.4
55.0
68.5
112. 3
128.3
140.0
77.7
106.7
104.8
124.5
137. 5
108.3
140. 2
124.1
384.0
107.9
134.6
207.4
89.3
95.1
95.3
99. 1
107.7
120.2
103.6
93.7
107.3
102.2
116. 5
59.9
'74.0
••54.5
'69.7
112.4
' 126. 4
' 137. 8
'76.5
'103.3
' 103. 5
' 123. 9
' 138. 5
' 108. 8
' 138. 9
126. 0
391.4
' 112. 6
' 136. 6
' 224. 4
'88.9
r 93. 8
'94.0
98.0
106.9
' 120. 5
' 101.2
92.7
' 103. 4
'99.7
' 109. 3
'60.1
98.6
92.7
101.0
98.8
92.4
102.3
99.7
93.9
103.7
100.9
96.3
106.4
101.6
97.4
108.0
102.2
98.4
108.7
'101.4
'97.8
' 100. 7
110
113
112
116
118
120
70
97
67.9
86
55
51
114.0
103
105
73
103
68.8
89
57
50
116.0
109
104
75
105
68.1
87
57
50
118.9
113
109
76
104
71.4
88
58
54
121.1
125
111
78
105
71.4
90
58
53
123.7
130
115
77
107
71.7
91
56
54
125.6
136
118
'107
'72.3
92
56
54
' 129. 4
'143
'120
100
188
110.7
118
115
166
61.7
63
62
69.0
51
68
101
118.7
133
62
89
104,9
118.0
129
105
130
120
355
115.0
132
197
95
98.8
100
98
104.0
113
102.2
95
106.8
100.1
119.8
62.0
102
201
109. 6
121
120
163
62.3
63
62
69.5
54
68
98
110.2
120
62
95
105.4
120.7
133
105
131
120
364
114.8
133
203
93
99.1
101
97
104.0
114
102.3
95
108.3
101.7
120.9
62.0
104
196
111.7
121
122
159
61.9
63
62
72.6
55
68
109
113.0
123
66
100
105.8
121.6
133
109
133
121
363
116.7
135
202
91
98.1
100
97
105. 5
116
101.7
94
107.3
100. 7
119.8
61.8
106
190
113.2
119
122
161
62.2
64
62
72.6
54
70
109
117.3
127
71
106
105.9
122.5
135
111
135
122
370
117.0
136
205
93
97.4
99
97
107.4
118
96.0
80
107.0
101.1
117.9
61.7
108
189
114. 3
121
126
158
62.4
64
62
71.8
54
06
108
118.6
128
70
106
106. 2
124.4
136
113
136
123
378
116.1
134
199
91
96.5
97
100
107.5
119
95.8
79
107.9
103.8
115.0
61.1
110
155
115.4
123
124
160
62.4
63
62
71.3
52
62
110
122.2
133
71
104
106.2
126.0
138
112
134
125
392
114.7
135
203
90
96.0
96
100
108.0
120
101.7
89
107.6
103.2
115.3
61.2
113
' 190
'115.0
132
123
'159
'63.7
' 63
64
'70.4
50
62
109
'122.6
134
'70
104
' 105.3
' 127. 5
137
114
134
125
408
'114.7
' 135
'206
'89
'96.1
'97
99
108.2
121
' 100. 0
89
' 105. 4
'101.3
' 112.0
' 60. 2
'106
29
SURVEY OF CURRENT BUSINESS
September 1937
Monthly statistics through December 1935,
together with explanatory notes and references to the sources of the data may be found
in the 1936 Supplement to the Survey
July
1937
1936
1937
DecemOctober NovemAugust September
ber
ber
July
January February
March
April
May
June
EMPLOYMENT CONDITIONS AND WAGES—Continued
EMPLOYMENT—Continued
Factory, unadjusted, by cities and States:
City or industrial area:
Baltimore
1929-31 = 100..
Chicago ._
1925-27=100..
Cleveland
1923-25=100Detroit
do
Milwaukee
__.1925-27=100-.
New York
__
do
Philadelphia t
1923-25 = 100-.
Pittsburgh
do
Wilmington
..do
State:
Delaware
_
.
do
Illinois
1925-27=100..
Iowa
1923-25=100Maryland
1929-31 = 100..
Massachusetts
1925-27=100..
New Jersey
1923-25=100..
New York
1925-27=100Ohio
1926=100..
Pennsylvania!
1923-25 = 100..
Wisconsin
1925-27 = 100..
Nonmanufacturing, unadjusted (B. L. S.):
Mining:
Anthracite
1929 =-100..
Bituminous coal
do
Metalliferous
do
Petroleum, crude, producing
do—
Quarrying and nonmetallic
do
Public utilities:
Electric light and power, and manufactured gas
1929=100..
Electric railroads, etc_ _
do
Telephone and telegraph
do
Trade:
Retail, total
do....
General merchandising
do
Other than general merchandising
1929=100..
Wholesale—
do
Miscellaneous:
Dyeing and cleaning
do—
Laundries
do
Year round hotels
do
Miscellaneous employment dataConstruction employment, Ohio .1926=100..
Hired farm employees, average per 100 farms
n umber .
Federal and State highway employment:
Total._.
number..
Construction..
do
Maintenance
do
Federal civilian employees:!
United States
do
District of Columbia
do
Railway employees:
Class I steam railways:
Total
thousands.
Index:
Unadjusted. . . 1923-25= 100..
Adjusted
do
Trades-union members employed:
All trades
-percent of total..
Building.
do—
Metal
_
_
.do
Printing
_
do
All other
do
On full time (all trades)
do
73.6
96.4
101. 0
98.1
72.5
94.6
80.9
93.3
'91.1
76.0
91.1
78.0
97.4
77.1
97.2
82.7
95.3
91.5
77.6
96.4
83.9
101.4
80.4
100.3
84.8
97.4
92.1
78.8
102.0
103.0
104.0
82.2
101.7
86.1
98.0
91.5
80.2
102.2
117.7
106.1
81.9
102.7
82.9
99.3
92.2
81.3
102.0
126. 1
107.0
81. 1
103.4
84.3
99.0
93.0
81.5
93.0
126.0
110.0
81. 1
103.0
83.6
98.7
95.4
83.2
105.5
127.5
109.0
84.1
103.4
88.6
100.6
84.9
106.3
87.3
113.8
86.6
105,3
90.8
104.3
102.1
85.2
108.6
130.0
115.7
84.4
106.3
91.5
108.0
103.4
86.5
108.4
129.1
113.6
83.8
100.7
93.3
108.8
101.9
86.2
102.8
125.4
116.2
82.1
'103.4
r
93. 7
' 111.3
99.1
82.1
121.0
95.5
75.4
78.7
77.5
97.6
82.6
95.6
111.3
84.7
119.8
'98.2
78.2
80.8
79.8
98.8
84.7
91.9
118.4
86.6
121.8
98.9
79.8
83. 1
83.3
101.0
87.0
95.2
105.7
86.9
121.9
100.2
80.4
82.7
84.7
102.8
88.2
105.6
87.9
124.1
99.5
81.6
83.4
84.8
103.4
87.6
105.2
89.1
128.5
99.1
83.6
84.7
'85.5
105.0
88.4
97.4
104.8
89.4
126.2
100.1
84.0
83.9
85.5
102.6
88.0
99.7
107.2
91.6
128.7
102.4
85.2
85.3
87.3
107.0
90.4
101.8
111.2
93.6
130.8
105.7
86.7
86.2
89.7
108.7
91.4
105.4
115.1
94.3
130.9
108.6
87.2
87.0
89.5
r
110. 0
92.2
10fi.6
116. 5
95.3
133.5
109.8
86.2
87.3
89.6
'112.0
92.3
105.3
'119.1
95.1
' 135.4
' 108.6
83.4
87.5
89.4
105.0
92.3
' 104.8
48.4
75.5
61.3
75.4
54.4
41.1
76.9
61.6
75.0
55.3
47.6
78.2
63.1
74.5
54.9
49.9
81.1
64.2
73.6
54.6
51.5
82.3
62.9
73.2
52.6
54.8
83.9
64.4
72.4
49.4
54.1
84.6
66.8
72.7
45.7
52.7
84.8
69.6
73.5
46.7
48.9
85.9
73.1
74.2
49.1
54.0
72.6
76.2
75.8
53.1
51.0
77.8
78.2
76.7
54.9
51.1
'77.9
'78.9
'79.1
'55.4
91.7
72.4
73.1
93.1
72.4
73.5
93.5
72.8
73.7
94.0
73.1
73.8
93.5
73.0
73.7
93.2
72.5
73.6
92. 1
72.5
74.4
92.0
72.5
74.8
92.2
72.6
75.4
92.9
72.9
76.6
94.4
73.3
77.7
'96.0
'73.3
78.5
83.2
90 7
82.4
89.4
86.6
98.5
88.7
103.9
90.1
109.3
99.6
143.4
85.4
95.1
85.2
88.5
100.3
102.1
'90.5
'102.9
81.2
85.4
80.5
86.3
83.5
88.0
84.7
89.0
85.1
89.7
88.1
91.0
82.9
90.7
82.9
92.0
85.4
92.1
86.0
91.9
86.7
90.8
'87.2
90.3
85.5
90.5
83.3
83.5
89.6
83.2
86.7
89.6
84.2
86.5
87.6
85.4
81.3
87.0
84.6
77.7
87.6
84.0
76.8
88. 5
85.5
76.2
88.6
86.4
81.1
88.7
86.9
84.9
88.5
88.4
90.3
'92.1
'93.5
46.0
46.0
47.6
49.3
52.1
49.2
46.5
51.2
51.8
'58.0
111
107
95
90
69
76
72
101
87.7
62.0
87
65.0
101
435,971
271,015
164,956
433, 533
274, 651
158,882
414,147
262,375
151, 772
389, 966
240, 249
149, 717
353,971
200,283
153,688
288, 248
149, 708
138, 540
210, 027
92, 451
117,576
190, 336
69, 550
120, 786
200, 794
81,748
119,046
226, 286 299, 063
101, 525 139. 896
124, 761 159,167
313,149
164, 757
148, 392
830,622
116, 022
834,266
115, 569
835,704
114, 611
841,017
114, 510
839,053
114, 792
831, 095
115,964
829, 794
115,870
826,333
115,871
829,193
116,146
835, 259 840,159
116,375 115,912
841, 664
115,409
1,097
1,102
1,114
1,121
1,104
1,095
1,088
1,112
1,114
1,144
1,167
1,185
65.7
64.1
60.8
59.3
61.0
59.6
61.7
60.5
62.1
60.4
61.1
60.7
60.6
62.1
60.2
62.8
'61.4
'63.8
61.6
63.4
63.3
63.8
64.6
63.8
65.6
64.2
89
78
94
90
91
69
83
73
75
87
71
91
90
90
88
73
92
91
91
68
89
78
92
91
91
69
79
94
91
91
69
39.3
39.1
40.1
41.7
40.9
40.6
40.2
85
71
89
90
88
64
79
LABOR CONDITIONS
Hours of work per week in factories:
Actual, average per wage earner
hours..
Industrial disputes (strikes and lockouts) :f
Number of disputes (in progress)
Man-days idle
number...
Workers involved (in progress)
do
Employment Service, United States:
Applications:
Active
file
...do.
New
do.
Placements
do.
Private
do.
Placements to active file •
percent..
Labor turn-over in mfg. establishments:
Accession rate:
Mo. rates per 100 employees on payroll
Separation rate:
Total
percent..
Discbarge
do.
Lay-off
do.
Quit
do.
40.7
379
324
355
'2,900,000 1,105,480 911,216 1,063,100
p 345,000 125,281 118,268 130,875
4,938,998
295, 219
341,353
207, 588
6.9
6,735,957 6,833,680
396,663 384,981
437,901 436, 290
117, 906 130, 491
6.5
6.4
355,800
434, 648
167, 809
6.4
41.1
41.5
41.8
41.0
41.5
724
723
252
258
262
333
•"794
335
»871
1,053,878 1,940,628 2,065,733 2,698,115 1,479,222 3,174,784 3,332,475 2,850,943 '4,500,000
345, 274 376,821 • 337,655
184,859
212,161
232,583
148,570
157,007
375,000
6,897,446 6,841,989 6,311,161 6,282,615 6,115,443 5,495,209 5.519,754 5,309,545 5,016,023
307,182 292,304
262,290 282, 587 288, 037 272,125 ' 337, 971
357, 455 339,309
250,241 294,308 348, 927 380, 018 ' 374, 029
399, 095 330,986 303,275 242,136
143,969 157, 738
193,641 219,440 240, 700
173, 407 158,833
171,974
224, 692
6.3
7.2
5.4
4.8
5.8
4.8
7.5
4.1
3.36
4.94
4.72
5.09
4.83
4.60
4.41
4.60
4.71
4.74
4.01
3.56
3.69
3.52
.21
2.06
1.25
3.22
.23
1.84
1.15
4.73
.27
3.23
1.23
3.30
.26
1.47
1.57
3.25
.24
1.72
1.29
3.04
.21
1.70
1.13
3.41
.22
2.14
1.05
3.38
.21
1.90
1.27
2.85
.22
1.44
1.19
3.20
.24
1.53
1.43
3.09
.23
1.48
1.38
3.37
.21
1.79
1.37
4.02
.19
1.94
1.89
f
Revised
v Preliminary.
tRevised series. For industrial disputes beginning 1927, see table 25, p . 19 of the July 1937 issue. Employment indexes for Philadelphia and Pennsylvania revised for 1935
and 1936. These are shown in table 35, p. 20, of the August 1937 issue.
• Figures were erroneously stated in issues urior to June 1937; decimal point has been moved 2 points to right.
^Method of compilation has been changed by the Civil Service Commission, but until the new series is available historically, the old series will be continued here.
30
SURVEY OF CURRENT BUSINESS
Monthly statistics through December 1935, together with explanatory notes and references
to the sources of the data may be found in the
\936 Supplement to the Survey
1937
July
September 1937
1936
July
Decem- January
August SeptemOctober November
ber
ber
1937
February
March
April
May
June
EMPLOYMENT CONDITIONS AND WAGES—Continued
PAY EOLLS
101.2
95.2
83.5
83.6
90.7
80.2
89.0
90.7
Factory, unadjusted (B. L. S.)t-1923-25=100_.
105.2
95.8
101.1
' 102. 9
104.9
101.9
77.0
77.2
85.3
93.4
86.6
Durable goods groupf
do
75.9
88.9
' 104. 6
92.5
100.0
106.4
107.5
114.2
93.2
86.8
87.1
99.8
81.8
95.8
103.2
"•110.4
103.9
Iron and steel and products!
do
112.6
124.5
124.7
Blast furnaces, steel works, and rolling
92.5
97.7
115.4
115. 9
98.1
101. 8
105. 0
118.5
145.6
127.2
145.6
mills
1923-2.5=100. _ 133.4
'•123. 4
Structural and ornamental metal work
81.8
63.3
66.0
61.3
65.5
72.2
65.5
65.7
67.5
78.5
78.5
68.5
1923-25= 100..
'82.4
120.7
94.4
112. 5
108.8
92.2
93.5
99.4
98.4
97.2
Tin cans, etc
do
' 116.6
104.2
108.2
111.7
67.2
60.3
54.9
58.9
60.8
60.5
58.2
54.5
83.5
72.3
Lumber and products
do
61.6
68.3
68.2
73.2
71.1
71.4
68.4
77.6
78.3
75.0
59.9
76.9
••78.7
Furniture.
do
76.9
78.5
76.7
55.0
46.5
47.1
46.9
49.
6
50.7
50.4
42.3
49.8
'57.5
Millwork
do
52.6
55.6
54.9
52.8
45.8
37.2
44,8
42.7
41.6
39.7
43.3
47. 1
57.4
Sawmills
do
48.0
52.0
52.9
133.1
94.7
111.0
93.9
105. 6
113.6
118.2
92.8
102.7
' 137. 2
Machinery f_
do
125. 5
133.9
134.9
164. 6
87.1
131. 6
91.5
102. 0
121.5
139. 6
108.3
105. 9
'182.7
Agricultural implements!
do
162.1
180.0
183.9
124.0
84.3
97.0
82.6
103.1
107.3
82.9
92.7
'126.1
Electric machinery, etc
do
112.1
121.0
123.5
Foundry and machine shop products
114.6
98.7
85.0
105.0
118.5
81.4
83.9
100. 2
111.6
119.4
' 119.5
90.2
93.3
1923-25=100, _
146. 0
166.0
180.9
167. 5
124.2
143. 3
164.7
169.4
' 156. 2
177.9
Kadios and phonographs
do
127.1
126.8
108.5
105.4
105. 5
97.1
88.0
102.0
103.5
' 111.5
77.4
82.9
99.7
Metals, nonferrous._
._
do
111.8
114.2
113.1
114. 7
134.5
114.9
114.7
121.7
135.6
96.1
100.4
Aluminum mfrs
_
_
-do
110.6
130.4
130.7
134.8
Brass, bronze, and copper products
120.2
113.1
95.2
102. 9
111.6
82.8
89.4
132.7
126.5
' 125. 3
103. 8
127.8
1923-25=100. _ 116.0
154. 9
148.9
148.4
123 0
164. 2
115.9
123. 5
155.0
'162.4
154.4
Stamped and enameled ware
do
163. 2
164.1
166.0
63.4
63.4
61.2
59.2
65.5
56.0
65.2
57.7
'68.7
63. 9
Railroad repair shops
do
65. 8
67.4
67.1
64.8
67.2
64.5
61.3
67.4
61.7
65.5
61.3
63.5
'67.1
67.1
67.6
66.4
Electric railroads
do
63.4
63.2
61.1
59.1
65. 6
55.7
65.4
64.0
'69.0
57.5
Steam railroads
do
65. 9
67.6
67.4
59.8
66.2
52.7
58.2
59.1
65.3
81.1
62.5
'71.4
58.3
66.1
71.1
72.0
Stone, clay, and glass products
do
37.9
36.4
39.4
40.9
46.1
39.1
41.1
41.3
'49.1
40.3
Brick, tile, and terra cotta__
do
42.6
49.2
49.1
52.6
49.9
61.0
58.8
72.3
58.0
63. 1
62.0
' 75. 0
60.2
Cement
do
62. 5
68.5
71.4
r
107.2
84.6
91.2
95.1
87.7
99.4
109.0
119.4
103. 0
92.8
115.1
120.2
118.9
Glass
do
112.3
100.7
76.3
120.9
92.6
113.4
125. 5
' 127. 8
95.8
81.0
123. 6
128.6
134.1
Transportation equipment!
do
108
2
77.3
135.7
99.5
125.S
121.
8
134.1
'
135. 2
101.
5
83.4
132.
2
136.0
143.8
Automobiles
do
58. 8
52.6
59.9
50.5
f,7. 6
66. 7
85.5
'91.4
59.7
55.3
79.1
89.1
86 9
Cars, electric and steam railroadf-do
96.
8
99.4
90.6
99.0
97.3
97.9
110.0
'
114.5
103.
2
97.8
116. 0
122.7
Shipbuilding
.do
us. 7
90. 0
91.6
97.5
85. 6
92.9
99.9
100. 2
100.8
93.7
91.8
102.6
102.9
10?.:
Nondurable goods groupt
do
119.4
112.0
118.3
106.4
114.7
136.3
137.4
123.
6
114.4
108.1
128. 1
136.4
136. Chemicals and products.
do
131.8
120.1
132.5
114.9
127.5
152. 5
' 153. 5
135.2
124. 7
117.7
140.2
150.6
152.
.
Chemicals
do
113. 1
107. 2
112. 5
100. S
112.7
111.9
'121.3
119.3
112.6
105.2
121.2
119.8
ll v; .
Druggists' preparations
do
120.3
114.0
121.6
113.8
116.8
138.8
127.2
'142.7
119.6
113. 5
133.1
142.1
14.". i)
Paints and varnishes
do.
119.5
116.3
119.5
114.7
119.1
142.7
122.
7
'
143.0
115.9
112.2
125.6
137.0
138. 3
Petroleum refining
do.
338. 1
302. 4
321.3
287.8
298.2
344.5
393.7
307. 6
' 391.8
300.1
349.7
364.8
382.0
Rayon and products
do.
100.5
116.5
105.
7
107.0
108.3
101.
3
127.9
111.
5
115.8
114.0
104.1
108.2
111.6
Food and products
do.
118.4
117.9
119.8
116.1
120.4
121.9
135.0
119. 0
' 133. 8
116.2
124. 1
123.4
130.3
Baking
do.
187.8
227.1
187. 6
266.4
191. 3
189. 3
284.0
198. 9
' 260. 5
237.1
211.0
220.2
236.9
Beverages
_do.
95. 8
85.1
86.7
99.8
88.4
88.7
'99.2
100.0
101. 5
87.5
91. 5
98.7
99.0
Slaughtering and meat packing. _.do.
86.3
75.7
74.2
67.3
90.9
74.0
86.1
78.3
'80.6
80.3
92.4
87.7
81.6
Leather and products
do.
82.4
70.7
70.3
58.2
87.9
67.4
71.4
'73.3
81.7
77.2
89.0
81.6
74.1
Boots and shoes
do.
102.5
95.5
104.6
90.0 ! 100. 8
105. 0
108.4
104,2
94.0
107.3
111.4
110,0
Leather
do.
98. 7
92.0
98.6
100. 5
96. 5
102. 6
104.9
101.2
89.4
104. 1
104.8
105.9
Paper and printing
do.
109.9
104.5
113.
5
108.6
'
124.3
119.2
92.5
9(1 9
116.5
119.6
121,8
Paper and pulp
do
95.2
101. 9
99.4
101.2
104.4
104.8
ljOQ.8
99.1
87.1
90.8
G9.
8
100.
3
109.
2
Rubber products
do
92.2
96. 8
94.6
98.9
101.3
99.7
'97.9
§4.0
88.5
91.6
90.4
90.5
102.7
Rubber tires and tubes
do
91.9
93. 8
94.6
87.2
100. 1
94.6
'91.3
77.3
87.4 !
85.7
103.2
100. 2
96.2
Textiles and products
do.
83.9
88. 5
96.0
86.7
97.6
96. 8
'93.8
77.1
83.0
97.5
100. 3
98.0
89.5
80.5
85. 1
Fabrics
do.
88.1
84.6
100.9
86.3
'82.5
74.3
92.4
74.7
110.4
95.7
88.9
Wearing apparel
do
87.0
9L.5
47.1
54.8
52.0
55. 4
51.0
'55.7
53.5
52.4
52.3
53.6
55.9
53.3
54.7
Tobacco manufactures
do._.
Factory, unadjusted, by cities and States:
City or industrial area:
108.6
127.6
104.0
118.3
101.9
104.0
128.1
124.6
96.9
95.2
92.7
99.8
121.9
Baltimore:
1929-31=100.
68.4
65.0
62.7
55.8
76.4
56.4
58.5
58.4
61.2
70.6
74.6
75.9
Chicago
1925-27=100..
75.4
103.
9
108.2
123.7
104.6
87.6
89.5
103.6
90.3
103.
1
118.1
123.0
120.5
Milwaukee
-do.
118.8
75.5
73.9
72.2
62.4
68.2
70.9
81.0
76.5
75.1
69 0
71. 5
New York
do.
72.3
100.3
' 104.4
98.1
83.0
9?! 8
89.2
95.1
89.3
95.0
104.2
106.1
100.5
Philadelphiat
1923-25= 100._
103.7
110.9
106.1
117.8
93.3
' 137.3
96.6
101. 0
122.8
134.9
137.1
98.3
105. 1
Pittsburgh
.do...
128.7
96.7
84.8
' 113.6
98.6
96.4
104.6
112.7
113.5
90.5
93.6
Wilmington
do._.
110.9
State:
91.3
104.5
105.4
89.2
91.4
97.0
' 104.3
89.4
79.4
90.5
86.9
102.6
87.3
Delaware
do...
78.2
74.6
86.3
71.9
74.7
63.8
83.9
66.4
66 9
70.4
81.2
85.9
86.2
Illinois
_
1925-27=100
106. 0
125.0
106.4
110.3
103. 0
94.2
97.8
119.3
127.3
127.8
100. 2
103. 1
Maryland
,
1929-31 = 100.. 121.7
79.9
83.5
80.3
82.0
73.6
'86.4
70.1
83.5
85.3
87.7
86.2
70.3
71.4
Massachusetts
1925-27=100
81. 6
88.0
79.1
81.5
77.3
69.4
85.7
72.0
84.4
87.8
88.9
71.8
75.5
New Jersey
1923-25=100..
79.3
86.4
78.8
81.1
75.2
84.9
67.5
71.1
86.1
86.5
86.4
72.4
75.3
New York
1925-27 = 100..
91.2
' 103.4
89.5
94.2
86.5
98. 6
76.8
81.7
82.6
87.8
98.0
104.0 r 103.8
Pennsylvania!
1923-25=100..
93.7
107.4
93
9
100.7
92.7
79.7
110. 7
82.6
105.9
108.9
108. 0
82.7
91.7
Wisconsin
..1925-27=100.
Nonrnanufacturing, unadjusted (B. L. S.):
Mining:
50.9
55.4
42.7
41.0
37.8
63.9
44.4
34.9
40.3
31.4
35.2
37.2
48.5
Anthracite
1929=100..
79.9
82.4
'71.2
85.0
80.7
65.4
67.9
62.6
88.4
54.4
67.8
71.0
79.2
Bituminous coal
do
58.4
63.4
'77.2
57.7
54.6
48.2
77-5
46.1
70.6
76.9
79.6
50.0
53.7
Metalliferous..
do.
61.0
63.8
'70.5
61.3
60.1
59.7
71.6
60.4
63.7
67.4
67.7
60.4
59.6
Petroleum, crude, producing.
do
34.6
37.8
'52.6
39.4
43.5
46.2
51.0
43.9
41.3
48.1
51.4
44.8
46.2
Quarrying and nonmetallic
do—
Public utilities:
Electric light and power and manufactured
95.2
92.3
94.5
97.6
93.8
93.3
100.1
91.4
91.8
92.7
89.8
101.1
gas
1929=10069.3
68.0
68.7
71.1
69.7
66.5
66.5
70.9
69.2
69.4
70.1
66.4
67.7
Electric railroads, etc
do.
1
82.2
82.4
83.6
89. 5
'88.6
81.6
79.9
81.2 I
87.2
86.3
92.4
78.8
83.1
Telephone and telegraph
do.
' Revised.
fRevised series. Factory pay rolls, for revisions beginning January 1934, see table 13, p. 19, of the March 1937 issue. Pay-roll indexes for Philadelphia and Pennsylvania
revised for 1935 and 1936. See table 35, p. 20 of the August 1937 issue.
31
SURVEY OF CURRENT BUSINESS
September 1937
Monthly statistics through December 1935, together with explanatory notes and references
to the sources of the data may be found in the
1936 Supplement to the Survey
1936
1937
July
July
1937
Decem- January FebruAugust SeptemOctober November
ber
ber
ary
March
April
June
May
EMPLOYMENT CONDITIONS AND WAGES—Continued
PAY ROLLS-Contlnued
Nonmanufacturing—Continued.
Trade:
Retail, total
1929=100..
General merchandising
do
Other than general merchandising.do
Wholesale
_.do
Miscellaneous:
Dyeing and cleaning
_
.do
Laundries
do
Year round hotels
do
72.7
87.1
69.7
76.6
65.1
77.3
62.6
69.0
64,4
76.4
61.9
69.7
66.6
82.8
63.3
70.5
68.3
87.2
64.4
71.5
70.1
91.4
65.7
73.1
75.9
116.2
67.6
72.8
68.0
83.8
64.7
72.6
67.9
82.9
64.8
74.1
70.5
87.6
67.0
75.0
71.9
89.1
68.3
75.4
73.5
91.5
69.8
76.1
74.4
'92.5
'70.6
'76.3
67.1
86.9
73.8
64.8
79.0
66.0
63.2
76.7
66.1
66.1
76.6
67.5
66.7
75.3
69.6
60.2
74.5
69.6
57.3
76.1
69.8
55.6
76.4
70.4
54.6
76.3
72.5
61.7
77.5
72.7
68.8
78.5
74.5
73.9
81.4
73.6
'79.2
'85.5
'74.0
27.84
24.20
24.76
25.18
25.51
25.98
26.63
26.11
26.68
27.50
28.03
28.36
' 28. 39
29.24
21. 28
16.50
97.6
30.21
21.90
16.96
100.1
29.88
21.65
16.72
98.1
30.02
21.94
17.00
100.3
30.83
22.42
17.24
103.3
31.70
23.38
17.37
105.3
31.96
23.63
17.49
106.6
' 32. 23
'23.63
' 17. 63
' 106. 7
102.9
104.9
100.8
103.7
106.1
101.5
' 104. 6
' 106.1
' 102. 3
WAGES—EARNINGS AND RATES
Factory,
weekly
earnings
(25 industries)
( N . I. C . B . ) :
All wage earners
_
dollars..
Male:
Skilled a n d semiskilled
do__._
Unskilled
do
Female
do
All wage earners
1923=100.
Male:
Skilled a n d semiskilled
do...
Unskilled....
..do...
Female
do...
Factory average hourly earnings (25 industries)
( N . I. C. B . ) :
All wage earners
dollars.
Male:
Skilled a n d semiskilled
do._.
Unskilled
do...
Female
do._.
Factory, weekly earnings, b y States:
Delaware
1923-25=100..
Illinois
1925-27 = 100..
Massachusetts
do
New Jersey
1923-25=100.New York...
1925-27=100..
Pennsylvania
1923-25=100..
Wisconsin.
1925-27=100.
Miscellaneous wage d a t a :
Construction wage rates ( E . N . R.):§
C o m m o n labor
dol. per hour._
Skilled lHbor..
—
do.
F a r m wages, w i t h o u t board (quarterly)
dol. per m o n t h . .
Railways, wages (average)
dol. per hourRoad-building wages, common labor, on
public works projects:
United States
dol. per h o u r . ,
East N o r t h Central
do
East South C e n t r a l . . .
_
-do
M i d d l e Atlantic
do.
M o u n t a i n States
doNew England
do.
Pacific States
do.
South Atlantic
do.
West N o r t h Central
do.
West South C e n t r a l .
do
Steel industry wages:
U . S. Steel Corporation ^
do
Youngstown district- percent base s c a l e . . .
31.55
23. 32
17.45
104.6
26.77
19.46
15.22
90.9
27.65
20.07
15.92
93.0
28.26
20.46
15.95
94.6
102.4
104. 7
101.2
86.9
87.3
88.3
89.7
90.1
92.3
91.7
91.8
92.5
92.7
93.0 .
93.3 |
94.9
95.5
95.7
98.1
98.3
98.4
97.0
97.2
97.0
97.4
98.5
98.6
100.1
100.6
100.0
••.617
.619
.619
.624
.637
.638
.642
.659
.685
.689
'.707
.684
.497
.429
.496
.429
.687
.497
.431
.689
.498
.431
.697
.505
.432
.711
.518
.437
.715
.515
.438
.718
.518
.440
.734
.535
.444
.764
.564
.463
.780
.574
.741
'.793
'.582
.475
84.4
84.1
88.1
98.5
87.2
91.5
83.2
82.3
84.4
' 89. 5
99.5
89.1
95.0
89.4
80.5
83.1
88.0
96.4
87.0
93. 4
86.3
86.9
87.2
'88.7
101. 9
88.9
97.5
94.0
89.0
88.0
'90.1
103.5
88.7
97.3
95.1
91.6
89.8
' 95. 4
107.6
92.7
101.3
95.8
90.0
90.9
' 95. 4
105.3
92.2
99.4
94.1
89.6
92.6
96.1
106.7
92.9
102.4
98.8
91.8
94.1
98.3
109.3
95.9
104.8
100.2
95.5
98.6
100.5
112. 7
96.6
109.9
101.9
95.2
98. 3
100.0
113.7
96.4
109.7
102.1
'92.2
98.4
' 100.1
112.3
96.7
108.9
101.4
. 554
i. 15
.569
1.16
.569
1.16
.583
1. 18
.583
1.18
.586
1.18
.603
1.24
.603
1.24
.612
1.25
.612
1.26
.627
1.30
.644
1.33
.710
()
(*)
(b)
.625
125.0
28. 57
20. 73
16.09
95.9
32. 21
.604
32. 84
.667
.42
.56
.30
,46
.56
.50
.54
.33
.49
.36
.42
.60
.33
.48
.55
.51
.53
.33
.50
,35
'.470
117.0
'.470
117.0
r
.47O
117.0
"."686" " " " " 6 8 3 "
31.37
.688 """."696"
34.16
.671 " " . " 6 7 0 "
.662
(b)
(b)
<>)
(b)
(b)
(b)
(b)
(b)
(b)
(b)
<»)
<>)
(b)
(fc)
(6)
(b)
(b)
(b)
(b)
(b)
(b)
(b)
(b)
(b)
(b)
(b)
(b)
<b)
(b)
(b)
(b)
(b)
(b)
(b)
(b)
(b)
(b)
(b)
(b)
(b)
.525
125.0
.525
125.0
.575
125.0
.625
125.0
.625
125.0
.625
125.0
387
401
396
395
386
364
1
1
3
2
1
4
.41
.63
.30
.48
.53
.47
.52
.31
.51
.34
.39
.61
.30
.50
.50
.45
.51
.31
.50
.32
.39
.65
.30
.53
.60
.40
.57
.31
.50
.36
.498
125.0
.525
125.0
373
r
.~674
FINANCE
BANKING
Acceptances and com'l paper outstanding:
Bankers' acceptances, total
mills, of dol._
315
308
316
349
330
Held by Federal Reserve banks :&
For own account.__mills, of dol._
For foreign correspondents
do
Held by group of accepting banks:
279
278
Total.
mills, of dol—
265
276
309
296
140
144
131
139
Own bills
do.
150
157
139
121
137
147
147
Purchased bills
do_
152
29
83
39
34
37
Held by others
do
40
205
325
197
199
188
Com'l paper outstanding
do
191
Agricultural loans outstanding:
5,400
3,384
3,382
Grand total •
„_
do.
3,387
3,378
3,371
2,902
Farm mortgage loans, total
do
!,879
2, 894
2,899
2,902
2,903
2,065
Federal land banks.__
do
2,067
2,068
5,051
2,066
2,068
Land bank commissioner.
do
829
832
834
829
835
836
Loans to cooperatives, total
do
105
130
123
99
Federal intermediate credit (direct)
mills, of dol—
C)
1
Banks for cooperatives incl. Central
Bank
mills, of dol—
44
52
Agricultural Marketing Act revolving
fund
_
mills, of dol—
44
46
a
Less than 1 million dollars.
r Revised.
b
Data temporarily discontinued by reporting source.
§ Construction wage rates as of August 1, 1937, common labor, $0,668; skilled labor, $1.37.
cf Federal Reserve banks held no bankers' acceptances for the period April 1935-March 1937 inclusive.
• See footnote marked ' T ' on p. 32.
315
151
164
57
215
325
154
171
62
244
341
161
180
61
268
317
150
166
80
290
318
147
171
76
285
295
137
159
86
287
273
130
143
87
285
3,362
2,901
2,064
837
125
3,352
2,898
2,061
836
3,353
2,896
2,060
836
3,374
2,892
2,058
834
3,386
2,888
2,055
833
120
114
110
3,390
2,885
2,054
832
94
' 3, 395
2,883
2,052
831
93
1
1
1
64
60
57
54
52
52
<[ Basic rate for common labor.
45
45
47
32
SURVEY OF CURRENT BUSINESS
Monthly statistics through December 1935,
together with explanatory notes and references
to the sources of the data may be found in the
1936 Supplement to the Survey
1937
1936
July
October NovemAugust September
ber
July
September 1937
1937
December
January
February
March
April
May
June
FIN AN CE—Continued
BANKING- Continued
Agricultural loans outstanding—Continued.
Short term credit, total^
mills, of dol_.
Federal intermediate credit banks, loans
to and discounts for:
Regional agricultural credit corps.', prod,
credit ass'ns and banks for cooperatives
. mills, of dol
Other financing institutions^
do
Production credit ass'ns
do
Regional agr. credit corp
do
Emergency crop loans
do
Drought relief loans
do_ _
Joint stock land banks in liquidation.—do
Bank dpbits, total
do
New York City
do_ _
Outside New York City
do
Brokers' loans:
To N. Y S. E. members.
do
By reporting member banks. (See Federal
Reserve reporting member banks, below.)
Federal Reserve banks, condition, end of mo.:
Assets (resources) total.
mills, of doL_.
Reserve bank, credit outstanding, total
mills, of dol...
Bills bought
_. .
do
Bills discounted
do
United States securities
_ do
Reserves, total
_
do
Gold
do
Liabilities, total
.
do
Deposits, total
do
Member bank reserve balances, total
mills, of dol_.
Excess reserves (estimated)
do
Notes in circulation
do
Reserve ratio
percent
Federal Reserve reporting member banks,
condition, end of month:
Deposits:
Demand, adjusted.
.mills, of doL.
Time
do
Investments, total
_ do
TJ. S. Government direct oblitrations.do
U. S. Government guaranteed issues.do
Other securities
- do
Loans, total®
do
Commercial, industrial, and agricultural
loans:
On securities
mills, of dols._
Otherwise secured and unsecured. _do
Onen market naner
do
Loans to brokers and dealers in securities
mills, of dol__
Other loans for purchasing or carrying
cppiirjtfpo
mills of dol
Real estate loans
Loans to banks
do
- - do
Interest rates:
Acceptances, bankers' prime
percent—
Bank rates to customers:
In New York City
do _ .
In eight other northern and eastern cities
percent. .
In twenty-seven southern and western
cities
percent—
Call loans, renewal (N. Y. S. E.)
_ do _
Com'l paper prime (4-6 mos )
do
Discount rate, N. Y. F. R. Bank
do __.
Federal Land Bank loans
do
Intermediate credit bank loans
do
Time loans, 90 days (N. Y. S. E.) _ _ do _ .
Savings deposits:
N. Y. State savings banks
mills, of dol—
U. S. Postal Savings:
Balance to credit of depositors
do
Balance on deposit in banks
_ do
421
405
396
375
352
340
336
334
343
373
399
411
419
170
48
164
22
129
59
115
36, 903
16, 751
20,152
146
55
141
35
111
62
147
34, 816
16,199
18, 617
144
55
136
33
110
62
145
31, 469
14, 363
17,106
139
50
122
31
109
62
142
33, 242
15, 656
17, 586
136
44
HI
29
107
61
139
37,313
17,171
20,142
132
41
105
26
105
61
136
35, 869
17,394
18,475
130
41
105
25
104
60
133
45, 896
22, 658
23, 238
126
40
106
24
104
60
130
39,479
19,096
20, 383
130
41
115
24
103
60
129
34,52,6
16,907
17,620
144
42
132
24
115
60
126
42, 003
20, 398
21, 605
154
44
144
24
128
59
123
37,133
17,082
20, 051
159
45
152
23
130
59
120
34, 406
15,114
19, 292
165
47
160
23
130
59
118
36, 453
16, 434
20, 019
1,174
967
974
972
975
984
1,051
1,026
1,075
1,159
1,187
1,152
1,186
12, 462
11,629
11,621
11, 862
12, 057
12,208
12, 525
12, 297
12, 330
12, 339
12,449
12, 448
12, 496
2,574
3
15
2, 526
9,160
8,843
12, 462
7,288
2,462
3
4
2,430
8,503
8, 210
11,629
6,758
2,471
3
8
2, 430
8,579
8,312
11,621
6,800
2,473
3
9
2,430
8,659
8,397
11,862
6,844
2,476
3
6
2,430
8,914
8,662
12, 057
7,035
2, 453
3
7
2,430
9,048
8,810
12,208
7,068
2,500
3
3
2,430
9,121
8,865
12, 525
7,109
2,497
3
3
2,430
9,156
8,862
12, 297
7,257
2,465
3
5
2,430
9,134
8,859
12,330
7,177
2,458
3
12
2,430
9,141
8,856
12, 339
7,186
2, 565
4
12
2,525
9,135
8,853
12, 449
7, 257
2, 585
6
17
2, 526
9,135
8, 550
12, 448
7,261
2,562
4
10
2,526
9,159
r
8, 846
12, 496
7,278
6,753
791
4,221
79.6
6,005
3,029
3,978
79.2
6,410
1,950
4,018
79.3
6,357
1,840
4,049
79.5
6,753
2,175
4,116
79.9
6,788
2,236
4,199
80.3
6, 606
1,984
4,284
80.1
6,781
2,152
4,160
80.2
6,695
2,078
4,190
80.4
6,639
1,398
4,174
80.5
6, 881
1, 594
4,205
79.7
6,915
918
4,223
79.5
6,900
865
4, 206
79.7
15,033
5,268
12, 499
8,283
1,188
3,028
9,784
14, 850
5,015
14. 084
9,456
1,272
3, 356
8.294
14, 867
5,032
13, 809
9,263
1,236
3,310
8, 454
15,116
5, 063
13,929
9,336
1, 256
3,337
8,753
15, 340
5,065
13, 796
9, 274
1,257
3,265
8,721
15, 464
5,037
13,647
9,173
1,246
3,228
8,812
15, 571
5,067
13, 742
9,241
- 1,238
3,263
9,189
15, 493
5,077
13,638
9,149
1,214
3,275
8,941
15, 501
5,167
13, 597
9,067
1,208
3,322
9,121
15,126
5,144
12,907
8,396
1,199
3,312
9,366
15, 388
5,158
12, 774
8,370
1.175
3, 229
9,428
15,274
5,231
12, 587
8,287
1,156
3.144
9,571
' 15,187
5,235
12, 530
8,301
1,152
3,077
9,760
570
3,700
483
566
3, 765
467
1,297
1,333
1,447
1,156
84
720
1,161
123
1 481
714
1,169
98
1,534
581
3,844
464
1,363
701
1,163
150
1 518
7
1,127
1,144
58
/L6
1,163
1,194
1,153
1,181
1,145
65
1,139
112
1,143
53
1,152
63
Me
Me
Me
Ha
1,289
1, 156
66
1,204
1,151
60
3
1,263
1,149
86
Me
/l6
1,305
1,157
81
5
/L6-9/U
He
2.36
2.44
2.42
2.40
2.46
2 A3
2.43
2.50
2.41
2.50
2.53
2.44
2.34
3.32
3.61
3.47
3.45
3.50
3.47
3.46
3.36
3.43
3.34
3.36
3.45
3.32
4.19
1.00
1
1.50
4.00
2.00
4.35
1.00
4.25
1.00
%
1.50
4.00
2.00
4.29
1.00
%
1.50
4.00
2.00
4.23
1.00
4.24
1.00
4.14
1.00
%
1.50
4.00
2.00
4.16
1.00
4.15
1.00
4.21
LOO
1
1.50
4.00
2.00
4.17
1.00
1
1.50
4.00
2.00
4. IS
1. 00
1
1.50
4.00
2.00
IK
IK
IK
5, 250
5,245
5, 275
1, 270
'134
1,268
'134
1,268
121
786
28
62
135
834
27
50
153
3
37
16
5
6
5
5
14
7
39
3
13
518
86
670
24
42
134
4
33
10
3
13
6
2
5
3
40
2
13
404
66
IK
1H
IK
IK
IK
IK
IK
IK
5,267
5,197
m
4.15
1.00
%-l
1.50
4.00
2.00
134
5,197
5,223
5,210
5,201
5,246
5,244
5,248
5,278
1,271
120
1,244
172
1,249
166
1,251
162
1,255
158
1, 257
145
1,260
145
1,266
136
1,270
133
1,272
132
H
1.50
4.00
2.00
H
1.50
4.00
2.00
u
1.50
4.00
2.00
1.50
4.00
2.00
H
1.50
4.00
2.00
r
FAILURES
Commercial failures:
639
655
721
586
692
611
811
688
618
Grand total
number _
42
52
34
37
39
35
32
29
25
Commercial service, total
do
42
45
36
43
34
43
43
46
31
Construction, total
do
104
141
120
131
105
136
107
139
131
Manufacturing, total
_ _ do
2
4
6
6
2
5
7
8
4
Chemicals and drugs
—
do
30
37
33
23
34
33
36
43
33
Foods
do
14
6
6
9
11
3
15
9
10
Forest products _ _
_
do
1
1
2
6
4
1
0
3
6
Fuels .
do
6
8
3
5
6
6
5
4
8
Iron and steel
do
2
3
4
8
2
10
7
3
3
Leather and leather products
do
5
9
9
7
Machinery
do
6
8
8
4
6
14
11
11
20
7
10
7
10
12
Paper, printing, and publishing-..do
2
1
6
5
3
5
6
3
4
Stone, clay, and glass
do
20
22
18
16
17
30
27
25
36
Textiles
do
2
1
2
2
4
3
3
6
4
Transportation equipment
do
10
10
14
22
13
14
22
13
Miscellaneous
_
do
13
382
365
408
328
398
438
409
498
379
Retail trade, total
do
69
70
55
68
67
78
52
65
90 I
Wholesale trade, total
do
r
Revised.
1 Data revised beginning March 1936. For revisions see p. 32 of the July 1937 issue.
® Form of reporting member bank loans revised beginning May 1937; the new items, which are self-explanatory, are not available prior
discussion
of the significance of the new series, see the Federal Reserve Bulletin for May 1937, p. 440 and for June 1937, p. 530,
r
820
51
72
126
4
40
8
1
6
5
8
10
5
22
1
16
481
90 I
41
15
1
10
6
4
8
5
22
1
15
470
91
to that date. For a more detailed
Monthly statistics through December 1935, together with explanatory notes and references
to the sources of the data, may be found in the
1938 Supplement to the Survey
33
SURVEY OF CURRENT BUSINESS
September 1937
1937
July
1936
July
1937
Decem- January
August Septem- October November
ber
February
March
April
May
June
FINANCE—Continued
FAILURES—Continued
Commercial failures—Continued.
Liabilities:
Grand total
thous. of dol.
Commercial service, total
do...
Construction, total—
do__.
Manufacturing, total
do___
Chemicals and drugs
do...
Foods
do...
Forest products
_do__.
Fuels
do...
Iron and steel.
do._.
Leather and products
do___
Machinery
do...
Paper, printing, and publishing-do.-_
Stone, clay, and glass
do...
Textiles
do...
Transportation equipment
do— _
Miscellaneous
do
Retail trade, total
do...
Wholesale trade, total
do...
7,766
401
473
2,988
13
577
152
27
31
53
67
184
210
1,163
74
437
2,861
1,043
9,904
1,314
1,873
2,347
51
329
62
84
686
128
129
112
94
373
83
316
3,197
1,173
8,271
502
1,498
1,852
225
340
209
35
112
33
205
176
12
253
101
151
3,255
1,164
9,819
557
1,148
3,212
148
487
377
45
190
208
403
258
5
848
27
216
3,391
1,511
8,266
501
573
3,469
423
1,391
378
43
89
33
65
405
103
211
94
234
2,888
835
11,532
287
2,781
3, 631
27
1,273
254
122
96
28
386
582
221
371
107
164
3,901
932
12, 288
478
1,601
3,121
27
774
329
57
48
696
234
144
145
477
69
121
3,135
3,953
8,661
326
1,015
2,502
81
575
188
0
339
139
65
148
27
674
6
260
3,746
1,072
9,771
1,169
1.279
2,711
66
1,017
49
291
28
63
251
272
36
197
311
130
3,571
1,041
10, 922
529
2,138
2, 744
109
958
115
150
123
62
340
243
99
319
3
223
3, 927
1, 584
440
1,943
2,165
99
859
270
7
73
144
7
86
61
283
65
211
3,313
1,045
8,364
493
550
2,465
14
588
313
56
56
146
98
157
131
721
81
104
3, 568
1,288
8,191
408
499
2,883
45
452
405
203
155
162
30
133
37
1,146
17
98
3, 292
1,109
21,120
4,144
686
3,458
19,775
4,198
746
3,452
19,875
4,188
739
3,449
19,997
4,172
733
3,439
20,119
4,167
726
3,441
20,239
4,358
720
3,438
20, 380
4,166
718
3,448
20,516
4,142
708
3,434
20, 609
4,127
703
3,424
20, 718
4,116
696
3,420
20, 813
4, 113
691
3,422
20, 914
4,116
689
3,427
20, 992
4,128
688
3, 440
11,570
5,269
2,526
2,765
1,010
2,611
9,908
4,352
2,105
2,635
816
2,676
10,015
4,419
2,130
2,643
823
2,667
10,098
4,437
2,183
2,647
831
2,661
10,227
4, 534
2,230
2,640
823
2,653
10, 346
4,606
2,241
2,645
854
2,647
10, 642
4,789
2,364
2, 641
848
2,641
10, 709
4,871
2,323
2, 652
863
2,632
10,867
4,969
2,340
2,678
880
2,623
11,103
5,075
2,424
2,721
883
2,617
11,263
5,167
2,448
2,760
888
2,614
11,321
5,191
2, 404
2, 777
889
2, 614
11,447
5,267
2,488
2,777
915
2, 614
945
59
668
217
743, 716
93, 863
1,045
55
767
223
749,491
79,323
220, 672
449, 496
255, 954
32, 673
10,047
51, 522
161,712
1,003
29
771
202
668, 638
39, 540
221, 692
407,406
235, 996
26,182
9,054
58, 685
142,075
952
30
725
198
630, 831
35, 601
208,001
387, 229
225, 486
25,555
10,109
52, 490
137,332
1,067
35
809
223
715, 261
40, 507
232, 465
442, 289
239. 313
27, 101
9,046
54, 734
148, 432
1,090
29
853
208
709, 051
43, 124
236, 846
429, 081
240, 380
25, 592
9,261
57, 440
148, 087
1,058
54
111
227
805, 077
80, 570
216,363
508,144
360, 242
67, 687
11,892
100, 271
180, 392
893
25
670
197
670, 276
42, 051
195,405
432,820
262, 037
35,512
10, 000
57, 286
159, 239
952
28
711
212
711,825
40, 247
212,231
459,347
252,162
27, 297
11.186
56, 917
156,762
1,175
51
862
262
917,780
77, 956
258, 087
581.737
285, 221
31,807
12, 925
66, 397
174.092
1,084
30
807
241
832,373
57, 022
246, 589
528, 762
274, 450
25, 730
10, 840
74, 637
163, 243
1, 066
39
789
238
804, 683
74, 706
239,733
490, 184
247, 040
25, 830
10,319
54,556
156,935
1,027
51
735
241
825, 288
87, 861
224, 113
513, 314
265, 179
26, 389
11,400
62, 120
1(55, 270
513
208
57
63
185
452
175
56
57
164
426
168
49
56
153
491
201
52
62
176
478
196
52
60
170
561
221
61
71
208
97
462
201
43
54
164
488
213
45
58
172
604
253
63
71
217
LIFE INSURANCE
(Association of Life Insurance Presidents)
Assets, admitted, total
mills, of dol.
Mortgage loans, total
do
Farm
_ do...
Other
.-do--Bonds and stocks held (book value), total
mills, of d o l . . .
Government
_.do__Public utility_
do...
Railroad
do...
Other
_
do.-_
Policy loans and premium notes
do...
Insurance written:
Policies and certificates, total number
thousandsGroup.
do,.Industrial
do.._
Ordinary
do...
Value, total
-thous. of dol_
Group
_
do___
Industrial
do...
Ordinary
do_._
Premium collections, total
do...
Annuities
do...
Group
do
Industrial
do___
Ordinary
do...
204,121
445, 732
(Life Insurance Sales Research Bureau) $
Insurance written, ordinary, total-mills .of dol.
Eastern district
do.__
Far Western district
do...
Southern district
do...
Western district
do...
Lapse rates
1925-26 =» 100.
95
MONETARY STATISTICS
Foreign exchange rates:
Argentina A
dol. per paper peso.Belgium
dol. per belga_Brazild*
dol. per milreis-Canada
_
dol. per Canadian dol_Chile
dol. per peso.England
dol. per £ . .
France
dol. per francGermany
dol. per reichsmark-.
India
dol. per rupee..
Italy
dol. per lira.,
Japan
_
dol. per yen_.
Netherlands
-dol. per florin-Spain §
dol. per peseta.Sweden
dol. per krona-.
Uruguay
dol. per peso-Gold:
Monetary stocks, TJ. S
mills, of dol~
.331
.168
.087
. 999
.052
4.97
.038
.402
.375
.053
.289
.551
.051
.256
.794
.335
.169
.085
.999
.051
5.02
.066
.403
.379
.079
.293
.681
.137
.259
.798
.335
.169
.085
1.000
.052
5.03
.066
.402
.379
.079
.294
.679
.136
.259
.797
12,404
10,629
10,674
.336
». 169
.086
1.000
.052
5.04
.063
*.4O1
*.38O
».O79
». 294
*.662
.123
». 260
.797
10,764
.327
.168
.087
1.000
.052
4.90
.047
.402
.370
1.055
.286
.536
.090
.253
.326
.169
.087
1. 001
.052
4.89
.046
.402
.369
.053
.286
.540
.088
.252
.800
.327
.169
.087
1.001
.052
4.91
.047
.402
.371
.053
.285
.546
.077
.253
.800
.169
.087
1. 000
.052
4.91
.047
.402
.371
.053
i. 285
.548
.071
.253
.789
.326
.169
.087
1.000
.052
4.89
.047
.402
.370
.053
3
.285
.547
.067
252
!789
.326
.168
.087
1.001
.052
4.89
.046
.402
.369
.053
.285
.547
.061
.252
.788
.328
.169
.087
1.001
.052
4.92
.045
.402
.371
.053
.286
.548
.057
.253
.786
.329
.169
.087
1. 001
.052
4.94
.048
.402
. 373
. 053
.288
.549
.053
.255
.787
.329
.109
. 087
. 999
.052
4.94
l
.O44
.401
.372
. 053
.287
. 550
. 052
. 254
.791
10,983
11,116
11, 220
11,310
11,399
11, 502
11, 686
11, 901
12,189
Movement, foreign:
Net release from earmark J._-thous. of dol— - 3 5 , 544
2,956
2,293 -11,945 -28,805 -11, 253
-48, 330
206
117
Exports...
_
do
32
127
695
42
99
11
175, 624
Imports
do
218,929
75,962 57,070
67,524 171, 866
16,074
121,336
Net gold imports including net gold
207,
559
released from earmark •—-thous. of dol._ 139, 874
143,019
17, 672
55,547
78,791
56, 303 72,995
Production, Rand
fine
ounces.- 996, 545 967,993 964, 517 967, 328 977, 425 944, 783 970, 030 980, 268
216, 321 264,140 228,557 237,630 273, 318 220, 645 196,248 193,079
Receipts at mint, domestic
do
6,321
Money in circulation, total
mills, of dol-.l 6,475
6,203
6,258
6,191
6,401
6,400
6,563
1
Quotations partly nominal.
* Less than $1,000.
* Largely nominal.
5 Quotations nominal beginning July 31,1936. No quotation from Sept. 22 to 30, and from Nov. 1 to 13,1936.
• Largely nominal.
#
1Or increase in earmarked gold (—).
O r exports (—).
<? Official
t A new series beginning with 1930 is shown in table 36, on pp. 18 and 19 of this issue.
-399
7,217
-8,000
39
13
(2)
120, 326 154, 371 215,825
21,196 - 1 5 , 8 6 5
81
4
155, 366 262,103
112, 326 153,933 223, 029 181, 558
922, 941 982, 304 981,565 970, 250
155, 332 185, 768 150, 404 236, 763
6,426
6,369
6,391
6,397
rate.
246,157
879, 0(39
198,174
6,435
34
SURVEY OF CURRENT BUSINESS
Monthly statistics through December 1935, together with explanatory notes and references
to the source of the data may be found in the
1936 Supplement to the Survey
1936
1937
July
September 1937
1937
Decem- January
August SeptemOctober November
ber
ber
July
February
March
April
May
June
FINANCE—Continued
MONETARY STATISTICS—Continued
Silver:
Exports
..thous. of dol..
Imports
do
Price at New York
dol perfineoz_.
Production, world
thous. offineoz_.
Canada
do
Mexico
_
.„
do
United States
do
Stocks refinery, end of month:
United States
do
Canada
.
do
214
4, 476
. 448
138
6,574
.448
20,008
1. 662
6, 457
4,616
16. 637
.448
21, 504
1, 543
7,850
4,733
204
8,363
.448
21, 846
1,726
7,078
5,524
268
26,931
.448
21,614
2,083
5,417
6,391
411
4, 451
.454
21, 339
1,357
6,400
5,561
236
2,267
.454
19,594
1,619
3,748
6,165
612
2,846
.449
23, 223
1,252
8, 765
5,409
611
14,080
.448
20, 849
1,539
6,684
4,965
346
5,589
.451
22,612
1,661
7,509
5,488
468
2,821
.455
20, 505
1,346
5, 731
5,431
341
3,165
.450
21, 545
1,467
6,543
5,280
~5~487
1,101
345
1, 535
317
779
545
1,247
510
985
403
1,050
1,023
1,347
1,512
970
754
821
507
766
929
1,303
808
862
735
143
244
6,025
.448
1,228
CORPORATION PROFITS
(Quarterly)
Federal Reserve Bank of New York:
Industrial corporations, total (168 cos.)
mills, of dol_.
Autos, parts, and accessories (28cos.) -do
I
Chemicals (13 cos.)
do
j
Food products and beverages (19cos.).do
j
Machinery and machine manufactures !
(17 cos.)
mills, of doL. j
Metals and mining (12 cos.)
do
1
Oil (13 cos.)
do
1
Steel (11 POS.)
do
Miscellaneous (55 cos.)
do
Telephones (net op. income) •
do
Other public utilities (net income) (53 cos.)
mills, of doL.
Railwavs. class I (net income)f
do
Standard Statistics Co.. Inc. t
Combined index, unadjusted (161 cos.)
1926=100.Indnstrials (120 cos.)
do
Railroads '26 cos.)
do
Utilities (15 cos.)
do
Combined index, adjusted (161 cos.)—do—
Industrials (120 cos.)._
do
Railroads (26 cos.)
do
Utilities (15 cos.)
do
217.2
54.7
42.6
24.3
283.5
97.2
50.9
22.4
250.6
69.1
37.0
16.5
10.8
3.5
18.4
28.5
34.4
56.4
11.3
6.3
13.0
39.2
43.2
69.2
14.2
7.2
14.5
51.6
40. 5
59.9
44.4
66.5
55.2
126.0
53.6
14.1
80.0
89.9
29.6
103.3
75. 6
83.7
7.9
117.2
109. 3
115.1
55.0
154.5
112.
127.0
41.8
146.1
*88.3
v 103.0
p 117.5
p 145. 0
P131. 1
P95.4
P 108.5
p 123. 9
v 112.4
p 133. 8
v 28. 6
v 126. 2
P20.
P31.8
*123.3
0
PUBLIC FINANCE (FEDERAL)
Debt, gross, end of month
mills, of dol__ 36,710
Obligations fully guaranteed by the U. S.
Government:
Amount outstanding by agencies, total
mills, of dol.- 4, 703
Federal Farm Mortgage Corporation d o —
Home Owners' Loan Corporation..-do
3, 012
Reconstruction Finance Corporation-do
265
Expenditures, total (incl. emergency)
thous. of doL. 675,811
464,On?
Revenues, total.
do
Customs
do
40. 649
Internal revenue, total
do
376, 074
Income tax
-do
42, 464
Taxes from:
1,633
Admissions to theaters, etc
do
1, 232
Capital stock transfers, etc
do
Sales of produce (future delivery).do
Sales of radio sets, etc
do. ...
Reconstruction Finance Corporation loans outstanding end of month:
Grand total
thous. of dol_. 2,048,344
662,165
Section 5 as amended, total
do
Bank and trust companies including receivers
thous of dol-_ 166,915
Building and loan associations
do
3i 681
Insurance companies.
_._do—.
120,422
Mortgage loan companies
do
351,936
Railroads incl. receivers
do
17,258
All other under section 5 . .
..do
Total Emergency Relief Construction Act,
as amended
thous. of dol._ 568, 928
223, 374
Self-liquidating projects
do
Financing of exports of agricultural sur47
pluses
thous. of doL.
Financing of agricultural commodities
and livestock.
thous of doL. 62. 427
Amounts made available for relief and
work relief
thous of dol.. 283,030
Total, Bank Conservation Act, as amended
thous. of dol_.! 608,468
i 208,783
Other loa^s and authorizations
do
444
33, 370
33, 831
33,830
33, 791
34, 405
34,503
34, 601
4,724
1,422
3,050
252
4,669
1,422
2,995
252
4,667
1,422
2,993
252
4,667
1,422
2,993
252
4,662
1,422
2,988
252
4.662
1,422
2,988
252
4,662
1,422
2.988
252
4,662
1,422
2,988
252
33,
4, 662
1,422
2,988
251
34, 941
35, 213
36, 425
' 4, 660
1,422
' 2, 987
250
4,659
1,422
2,987
250
r 4, 665
1,422
r 2, 987
••255
684, 821 607,418 645,053 971, 663 784, 813 624,015 1,386,931
552, 607 320,034 330, 310 1,120,513 423. 886 392, 509 966, 905
41,716
38, 698 40,518 41. 726 52, 503 46, 252 46, 252
478, 633 207, 483 237,826 934, 555 300, 380 281, 058 827, 483
45,246
64,035 689,003
55, 444 42, 949 556, 946
281,178
703
426
763
026
656
712, 560
528,129
35, 554
467, 642
284, 421
1,568
1, 654
283
596
1,384
2,346
511
496
1,670
1,932
457
683
!,226,026
769, 261
!,215,165
763, 294
2,205,564
748,411
246, 523
3,814
4,972
124, 864
350, 841
38, 247
236,860
3, G53
4, 890
129, 632
350, 948
37,311
226, 451
3,378
4,429
129J08
349,261
35, 784
218, 889 208, 669 201,432 191,524 184, 530 178.316 173, 093 167, 388
2,214
2,072
2,369
2, 248
2,096
2,902
2,483
2,714
3, 935
3,820
4,015
3,844
3,863
4,284
4,030
4,147
128. 368 127, 439 131,181 130, 345 129, 710 126, 330 122. 057 120, 467
345,
447
344,
823
340, 367 345. 084
353, 810 345.190 345, 980 345,502
25,790
25,096 17, 613 18, 344 17,875
30, 521 27,876
31,390
163, 800
2,076
3, 703
121,177
354, 320
17,518
564, 487
174, 249
570, 670
180, 045
577, 607
184, 418
584,069
189,068
559, 248 551, 431
213,067 216,576
551,725
219, 903
47
47
47
47
47
457, 656
322, 726
31,580
288,327
40,118
657.
366,
34,
254,
29.
739,979 591,016
301,968 259,963
41, 342 35,452
199, 248 176. 526
31, 634 28,034
1,797
2,182
309
869
1,606
2, 954
271
640
2,195
3,178
325
906
1,473
3,743
506
465
1,539
3,045
392
361
1, 590
3,226
528
332
1,537
2,169
639
329
1,875
1, 556
454
395
2,201,209 2,181,322 2,168,160 2,174,006 2,145,957 2,064,942 2,045,756 >,028,897 !, 033, 375
739, 643 718, 680 712,982 699,545 690,932 668, 585 664, 670 656, 445 662, 594
587, 863 588,997
192,516 193,252
630 045
198,339
47
47
99, 643 100,043
136,305
47
630, 918 576,983
204, 839 206,607
47
47
47
47
130, 678
81,101
56, 906
51,726
48, 695
295, 655 295,354
295, 354 289, 228 289, 228 283, 082
283, 080
663.171
181,245
640, 363 629, 522 624,077 619,840
183,744 189. 852 197, 761 201,181
' Revised.
613,943
205,113
93, 777
94, 355
97,147
99,195
296,414
296, 223
295, 995
295,759
295,657
722,910
169, 368
706, 395
174, 806
702,151
177, 395
695,987
181,510
691,987 684,046
182, 792 182,135
v
1,506
3, 367
423
684
• N u m b e r varies,
Preliminary.
^Figures shown on p . 54 of the 1936 Supplement are in thousands of dollars instead of in millions as t h e box head indicates.
f D a t a revised for 1935 and 1936. Revisions not shown on p . 34 of the M a y 1937 Survey will appear in a subsequent issue.
34,732
35
SURVEY OF CURRENT BUSINESS
September 1937
Monthly statistics through December 1935, together with explanatory notes and references
to the sources of the data may be found in the
1936 Supplement to the Survey
1936
1937
July
July
1937
Decem- January
October NovemAugust September
ber
ber
February
March
April
May
June
FINANCE—Continued
CAPITAL FLOTATIONS
New Security Registrations
New securities effectively registered with the
Securities and Exchange Commission:*
Issues, total
number..
79
110
85
Common stock
do
46
47
48
16
Preferred stock
do
14
21
6
27
Certificates of participation, etc
do
10
7
14
Secured bonds
do
5
4
1
Debentures and short-term notes
do
Estimated gross proceeds, total
thous. of doL. 266, 886 362. 925 286, 022 260, 080
Common stock
do
122, 289 84, 066 92, 750 76,140
35, 728 29, 271
Preferred stock
do
85, 690 15,131
4,660
17, 212
Certificates of participation, etc
do
25, 390 32,898
Secured bonds
do
29, 929 170,987 45, 634 127,918
9,539
Debentures and short-term notes
do
3,587 59,843 107, 250
114
59
23
10
14
124
53
27
9
21
14
113
68
19
14
7
5
30
10
7
18
4
161
78
35
25
12
11
81
43
10
13
9
6
526, 330 266,026
112, 777 47, 421
55, 643 30, 201
29,245
7,192
104, 752 159,036
223, 913 22,176
698,408 429,990 491,400 469,907 288, 076 238,068
85, 622 168, 474 231, 006 139, 397 114. 789
167,126
34,531 134,719 38, 215 36, 364 49, 497 34, 442
11,082 52, 249 16, 543
39,548
9, 167 11, 180
234, 635 146,509 212, 560 164, 468 52, 198
2, 778
222, 567 52,057 19,902 21, 527 37,818
74, 879
369,065
67, 055
78, 592
16, 983
136, 340
70,095
Securities Issued
(Commercial and Financial Chronicle)
Amount, all issues t
thous. of doL
Domestic ssues f
_._do-._
Foreign issues
do___
Corporate, total
do
Industrial..
do.__
Investment trusts
do
Land, buildings, etc., total..
_do.__
Long term issues
.do...
Apartments and hotels
do
Office and commercial..
do...
Public utilities
do
Railroads-_.
_
_do.._
Miscellaneous
do...
Farm loan and Gov't agencies
do
Municipal, States, etcf..
_
do-_.
Purpose of issue:
New capital, totaLf
_.do___
Domestic, totalf
_
do...
Corporate
do...
Farm loan and Gov't agencies
do.._
Municipal, State, etc.f
do__.
Foreign
do...
Refunding, totalt
do,..
Corporate
do...
Type of securities (all Issues):
Bonds and notes, totalt
do...
Corporate
do
Stocks
do
343, 577
343, 577
0
138, 732
103,031
0
350
350
0
0
29,150
2, 950
3, 251
118, 000
86, 846
338,779
338,779
0
294,393
49,050
7,125
1,000
0
0
0
149.804
49, 690
37,724
2,080
42. 306
297, 258
297,258
0
232,438
16,001
0
973
0
0
0
43,473
51, 500
120, 492
7,800
57,020
409, 462
409,462
0
250,050
88,142
0
4,500
0
0
0
121,050
24, 475
11,983
0
159,402
465,771 380,934
450,771 357,434
15,000 23,500
381, 402 264,004
64, 462 91,368
0
0
6,320
100
0
0
0
0
0
0
264.288 109, 337
16, 379
9,150
37,182 46, 820
28, 454
1,000
64,816
83,194
724, 220
724, 220
0
625,912
88, 875
1,000
3,249
0
0
0
395,594
49,236
87,958
2,660
96,998
250, 249
250, 249
81,951
89,000
79,297
0
93,329
56, 781
103,165 218,074
103, 165 218, 074
69,809 170, 799
0
0
33, 355 47, 275
0
0
235, 614 79,184
224, 583 61,639
179, 487
179, 487
74,590
0
104, 895
0
229,975
175,460
189, 512
174,512
94,885
0
79,452
15,000
276, 258
271, 517
158,071
158, 071
109, 077
0
48, 833
0
222, 863
129,927
265,850
265, 850
218, 206
0
48,994
0
458, 371
407, 707
284,146
59,300
79,432
305, 580 265, 993 364, 037 393,683
261,194 201,173 204, 625 309,314
31,265
45, 425 72,088
33,199
622, 486
537,486
85,000
305,973
132, 641
250
881
881
0
0
77, 735
63, 336
31,130
26, 000
205, 513
522,360
423, 360
99,000
354, 363
131,313
0
17, 873
17,873
0
0
145, 688
46,635
12,854
25, 200
43, 798
381, 515 287, 394 260, 932
381, 515 252, 394 260, 932
35, 000
0
0
318, 645 171, 762 165,364
54, 459 66, 954 81,139
0
0
0
690
1,606
600
690
1,606
600
0
0
0
0
0
0
9,500 52, 580
161, 500
73, 823 78,127
25, 220
27, 257 16,491
5,825
656
4,067
44, 891
58, 804 79, 976 50, 677
559, 650
559. 650
0
418, 228
188, 647
0
3, 445
3, 445
0
0
155, 324
15, 410
55, 462
30, 000
111,362
248, 526
248, 526
102,456
0
146,070
0
373, 960
203, 517
358, 696 592,927 475, 509
241, 766 494, 619 158, 996
22, 238 131,294 146, 977
168,188
168,188
129, 842
4,000
34, 346
0
354,173
224, 521
184, 594 151,810 149, 747
184, 594 151,810 149,747
137, 589 85, 227 78,153
0
28, 500
0
47, 004 66, 583 43,093
0
0
0
196, 922 135, 584 111,185
181, 055 86, 535 87,210
359, 208
359, 208
268,946
0
90, 261
0
200, 442
149, 341
382,004 323, 799 229, 299 208, 860
214, 006 260, 929 113, 667 113,292
140,357 57, 716 58, 095 52, 072
467, 222
325, 860
92, 428
(Bond Buyer)
State and municipal issues:
Permanent (long term)
Temporary (short term)
thous. of doL.
do
53, 378
15, 665
43,934
22,746
67,447
18,201
159,481
51,748
82,311
8,389
75, 544
22, 627
92,838
89,120
226, 238 42, 706
28,797 133,475
91,313
25, 077
95, 778 • 53,842
22, 057 75, 555
110. 652
84, 466
r
COMMODITY MARKETS
Volume of trading in grain futures:
Wheat
thous. of bu._ 1,639,153 1,328,691 1,032,278 662,183 514,893
Corn...
do
335, 946 415,816 395,058 213, 787 113,037
518, 782 1,164,158
230, 599 258, 319
777,857
199,166
775, 898 1,170,136 1,245,324
129,969 151,721 296, 282
923,787 1,544,605
223, 622 324, 350
SECURITY MARKETS
Bonds
Prices:
Average price of all listed bonds (N. Y. S. E.)
95.39
95.79
dollars __
94.78
95.92
93.93
96.64
97.01
96.83
97.35
98.81
99.27
Domestic
.,
do
98.19
99.41
99.83
110. 55 100.76
100. 05
96. 82
68.00
Foreign
do
68.68
68.39
68.16
70.02
68.63
69.78
69.10
69.81
Domestic (Dow-Jones) (40 bonds)
97. 35
99.38
101.19
102. 59 102. 70 103. 04 102. 91 101.32
percent of par 4% bond..
96.71
Industrials (10 bonds)
do .
106. 04 103. 68 104. 06 105.18 105. 62 106.78 107. 41 107. 50 105. 54
97.32
98. 86 100. 88 101. 55 102. 22 102.17 101. 68 101.32 100. 73
Public utilities (10 bonds)
do-_.
124. 53 126. 58 126. 98 128. 37 129. 49 130. 68 132. 32 131. 28 126. 38
Rails, high grade (10 bonds)
do
80.74
73. 11
74. 45
83.21
82.51
Rails, second grade (10 bonds)
do
82.22
82.75
77. 78
82. 34
Domestic (Stand. Stat.)
100. 9
103.0
102. 4
104.3
104.9
105.4
105.4
Corporate (45 bonds)..,
dollars..
105.4
106.3
117.4
117.8
122.1
119. 5
119.7
Municipal (15 bonds)
do
123.5
124.8
118. 6
118.8
U. S. Government (Stand. Stat.):
108.7
110.3
110.8
7 bonds
do
111.1
111.0
111.8
112.3
111.6
Sales (Securities and Exchange Commission):
Total on all exchanges:
Market value
thous. of dol__ 173, 585 292, 443 221, 368 287,861 329, 488 293, 709 317,484 309,610 276,698
207, 044 350, 594 275, 306 378, 520 420, 739 353, 380 446,393 428,010 346, 260
Par value
_
..do
On New York Stock Exchange:
Market value..
thous. of doL. 146, 991 238, 071 179,534 240, 020 274,094 246, 072 261, 214 255, 434 234,188
Par value
_
do.. 175, 800 287, 510 225, 927 322, 466 353,830 297, 521 379,805 365, 679 300,608
Sales on N. Y. S. E., exclusive of stopped sales
(Dow-Jones):
Par value:
Total
thous. of doL. 29, 800 291, 650 224,923 1,087,961 396,197 197,835 531, 209 245, 354 225, 293
Liberty and Treasury bonds
do
0
0
0 914, 000
0
0
0
0
0
r
Revised.
t Revised series. For 1936 revisions see p. 35 of the March 1937 issue.
*New series. Data showing new securities effectively registered, by industrial groups are shown in table 30, p. 19, of August 1937
93.88
96.86
93.33
96.27
68.45
93. 89
96. 79
69. 30
98.86
103. 79
98.21
122. 70
80.05
95.81
101. 88
95. 17
120. 41
76.20
96. 60
104. 60
95. 90
122. 29
75. 49
103.3
116.9
101.1
114.8
107.2
101.7
116. 3
101. 1
117.9
108.0
108.3
321, 274 206, 518
363, 730 238,348
389,143 279, 814 176, 477
442, 002 318, 934 204, 294
174, 732
210, 859
672, 927 104,185
502, 000
0
989, 437
800,000
109.1
438,960
494,965
issue.
91, 775
0
92.98
95. 84
69.11
95.
105.
93.
123.
73.
56
40
39
69
62
146,794
178, 416
36
SURVEY OF CURRENT BUSINESS
Monthly statistics through December 1935, together with explanatory notes and references
to the sources of the data may be found in
the 1936 Supplement to the Survey
1937
July
September 1937
1936
July
1937
Decem- January
August SeptemOctober November
ber
ber
February
March
4.6, 592
41, 630
4,961
45,113
41,651
3,462
46. 572
41,593
4,979
45, 007
41,521
3,486
46,994
42, 045
4,949
44,116
40, 726
3,389
April
May
47, 058
42, 095
4,963 '
43, 920
40,525
3, 395
47, 045
42, 086
4, 959
44,171
40, 734
3, 436
47, 321
42, 268
5, 054
44, 001
40, 509
3,492
June
FIN AN CE—Continued
SE CUBITY MARKETS—Continued
Bonds—Continued
Value, issues listed on N. Y. S. E.:
Par, all issues
mills, of doL_
Domestic issues..
do
Foreign issues
_
do
Market value, all issues
do
Domestic issues..
do
Foreign issues
do
yields:
Standard statistics:
Corporate issues (45 bonds)
percent.Industrials (15 bonds)
do
Public utilities (15 bonds)-.
do
Railroads (15 bonds)
do
Municipals (15 bonds)
do
Bond Buyer domestic municipals (20 bonds)
percent-.
U. S. Treasury bonds__~
do
47,159
42,116
5,043
44, 296
40,776
3,520
43,981
38, 947
5,034
41, 685
38, 242
3,443
44,279
39, 241
5,038
42, 236
38, 776
3,460
45, 211
40,178
5,033
43, 305
39, 883
3,422
45, 018
39,988
5,031
43,180
39, 751
3,429
45, 026
40, 038
4, 988
43, 680
40, 257
3,423
4.45
4.48
4.28
4. 57
2.63
4.35
4.45
4.02
4.58
2.70
4.32
4.42
4.02
4.52
2.68
4.24
4.40
4.00
4.33
2.62
4.21
4.40
4.01
4.24
2.58
4.18
4.33
4.00
4.22
2.45
4.18
4.30
4.00
4.24
2.31
4.13
4.29
4.02
4.09
2.38
4.19
4.36
4.09
4.13
2.57
4.30
4.48
4.17
4.25
2.72
4.44
4.61
4. 23
4.46
2.84
4.40
4. 52
4.23
4. 44
2.76
4.43
4.51
4.28
4.51
2.67
2.94
2.59
2.95
2.50
2.91
2.43
2.86
2.41
2.85
2.42
2.69
2.29
2.62
2.27
2.74
2.29
2.90
2.31
3.15
2.50
3.09
2.74
3.04
2.67
3.06
2.64
358, 909
332, 406
26, 503
249, 402
244, 089
5,313
222, 278
216! 137
6,141
521, 083
495, CGI
26, 482
342, 749
312,101
30, 648
1,886.9
923. 50
1, 885. 7
923. 50
1,892.2
923. 50
1, 926. 8
923. 50
1,933.7
923. 50
2.04
3.07
2.02
2.25
2.09
1.77
2.04
3.07
2.02
2. 25
2.08
1.77
2.05
3.07
2.03
2.42
2.07
1.77
2.09
3.07
2. OS
2. 42
2.08
1.77
2.09
3.07
2.08
2.37
2.10
1.77
46, 280
41,301
4,979
45, 054
41, 613
3,441
Cash Dividend Payments and Bates
Dividend payments (N .Y. Times):
Total
thous. of doL. 253,111 236,196 331.918 231, 730 233, 697 880, 262 437, 541 233, 330
244,116 215, 003 317. 088 226,642 226, 269 814, 406 407, 957 212, 837
Industrials and misc
do
14,830
5, 088
8,995
21,193
7,428 65, 856 29, 584 20, 493
Railroads
do
Dividend payments and rates (Moody's):
Annual payments at current rates (600 companies)
mills, of doL- 1, 959. 7 1, 457. 2 1,517.4 1, 539. 6 1, 568. 2 1, 825. 6 1, 876. 2 1, 884. 0
923. 99 923. 99 923. 99 923. 50 923. 50
923. 94 923. 94
Number of shares, adjusted
millions.. . 923.50
Dividend rate per share (weighted average)
2.04
2.12
1.67
1.64
1.58
1.70
1.98
2.03
(600 cos.)
dollars. 3.04
3.07
3.07
3.00
3.00
3.04
3.04
3.07
Banks (21)
___do
1.58
1.56
2.02
2.12
1.48
1.62
1.96
2.01
Industrials (492 cos.).
.do
2.13
2.09
2.09
2.14
2.14
2.21
2.25
2.38
Insurance (21 cos.)--do
1.99
1.96
1.95
2.01
2.04
2.09
2. 09
2.10
Public utilities (30 cos.)
do
1.21
1.21
1.21
1.21
1.55
1.77
1.77
1.77
Railroads (36 cos.)
do
Stocks
Prices:
Dow-Jones:
Industrials (30 stocks)
dol. pershare.Publir utilities (20 stocks)
do
Railroads (20 stocks)
do
New York Times (50 stocks)
.do
Industrials (25 stocks)
do
Railroads (25 stocks)
do
Standard Statistics:
Combined index (419 stocks)._ .1926 =100-Industrials
(347 stocks)
do
Public-1 utilities (40 stocks)
...do
Railroads (32 stocks)
-do
Banks N. Y (19 stocks)
do
Fire insurance (18 stocks)
do
180.3
28.8
53.9
131. 44
221. 04
41.84
162.3
34.6
51.5
130. 74
221 15
40.33
165.9
34.7
54.0
131. 55
220. 56
42.55
167.8
34. 5
55.8
133. 48
222. 54
44.42
175. 0
35. 1
58.7
138. 39
230. 40
46.38
182.1
34.9
56.7
141.46
238. 88
44.04
117.8
139. 4
95.9
52. 1
76.5
93.6
109.2
124. 3
105 8
50 7
72 1
96. 1
113.0
128.4
108.8
53.9
76.5
96.5
114.1
130.2
107.7
55.4
75. 1
94.1
118.7
136. 0
109. 1
58.4
75.3
93.8
124 2
144.3
108.9
57.9
70.4
96.1
180.1
34.9
53.9
136.46
231. 11
41.81
183.5
36.4
55. 1
139.48
235. 41
43.56
188.0
35. 0
57.4
138. 67
231.77
45.58
188.4
33. ]
6].7
137. 19
925. 73
48.70
179.3
30.7
59. 5
130. 89
215. 23
46. 56
173. 1
28.3
58. 4
179.41
212. 92
45.90
170.1
26.7
54.3
125. 13
20S. 46
41.81
122.8
142.6
110.6
54.4
70.6
98.3
126.0
146.3
113.2
55. 6
78.9
129. 5
151.7
110.7
57.9
90. 6
98.4
129.9
152. 6
] 05. 7
62.8
88.0
97.1
124.5
146. 5
100.7
60 1
81.4
91.7
116.3
136. 7
94. 1
57.1
76.8
88.8
113.6
134.0
91.3
53.9
73.2
88.7
Market value of shares sold (S. E. C ) :
On all registered exchanges, total
thous. of doL- 1,242,858 ,765,391 1,435,776 1,594,411 2,241,462 2,530,464 2,358,956 2,663,064 2,701,226 2,977,570 2,052,318 1,267,543
1,096,396 ,526,176 1,248,924 1,387,439 1,948,171 2,188,579 2,025,678 2,246,887 2,332,408 2,628,767 1,803,427 ! 1,1.13,925
On New York Stock Exchange
do
Number of shares sold:
On all registered exchanges, total (S. E. C.)
72, 140
43,992
thous. of shares.. 41, 864 64, 728 50, 937 59, 627 79, 992 94, 299 99,756 117,097 107,061 117,436
52, 533
83, 720
31,336
30,045
On N. Y. S. E.f total (S. E C.)._, do
81,687
72,004
48, 272 37, 109 44, 535 60, 019 68, 306 71,123
Exclusive of odd lot and stopped sales
34, 613
50, 344
18, 565
58, 676
50, 255
50, 470 48, 605
(N Y. Times)
thous. of shares.- 20, 715 34, 787 26, 564 30, 872 43,998
Shares listed, N Y. 8. E.:
57, 963
62. 468
57, 324
55,105
61,912
62, 618
54,532
58, 507 60, 020 59,878
54,067
Market value all listed shares-.mills. of doL_ 59,394
1,380
1, 389
1,349
1,374
1,344
1,348
1, 360
1,404
1,341
1, 356
1,367
1,387
Number of shares listed
millions..
Yields (Moody's):
4.2
3.9
4.3
3.4
3.5
4.0
3.9
3.4
3.5
39
3.8
Common stocks (200)*...
percent..
3.8
4.2
4.3
3.5
3.3
4.0
3^9
3.8
3.8
3.2
3.4
Industrials (125 stocks)*
do
3.1
3.3
3.5
2.4
2.2
3.0
3.5
3.3
3.5
3.8
2.5
2.4
Rails (25 stocks)*...
do
5.0
5.3
5.4
4.6
4.4
4.4
4.7
4.6
4.6
5.1
4.4
4.4
Utilities (25 stocks)*
do....
2.8
3.2
3.3
3.2
3.4
2.8
3.4
3.4
3.1
3.3
3.3
3.2
Banks (15 stocks)*
do.
3.2
3.1
3.9
3.9
2.8
3.1
3.0
3.0
3.1
3.6
2.9
3.0
Insurance (10 stocks)*
do.
Preferred stocks, Standard Statistics:
5.17
5.07
5.15
5.06
5.04
5.02
5.03
4.99
4.94
4.96
Industrials, high grade (20)
do.
5.16
5.03
993,772
809, 953
38, 099
27, 554
16, 443
54, 882
1,400
4.5
4.5
3.9
5.5
3.5
3.8
5.18
Stockholders (Common Stock)
American Tel. & Tel. Co., total
number..
Foreign
_..do
Pennsylvania Railroad Co., total.
do
Foreign...
do
U. S. Steel Corporation, total
..do
Foreign
do
Shares held b y brokers
percent of total..
•New series.
645, 457
7,540
221, 327
3,076
173, 633
3,866
23.51
641,168
382
218,720
3, 055
170,448
3, 781
23. 92
639, 227
7, 265
217,016
3, 020
164.271
3,130
24.81
For data for period June 1929-July 1936, and a description of the series on yields of 200 common stocks, see p . 18 of the Sept. 1936 issue.
638, 627
7,194
215, 498
2, 954
161,487
3,205
25.33
37
SURVEY OF CURRENT BUSINESS
September 1937
Monthly statistics through December 1935, together with explanatory notes and references
to the sources of the data may be found in the
1936 Supplement to the Survey
1936
1937
July
July
1937
Decem- January FebruOctober NovemAugust Septemary
ber
ber
ber
March
April
May
June
FOREIGN TRADE
INDEXES
Exports:
Total value, unadjusted
1923-25=100.
Total value, adjusted
.do
U. S. merchandise, unadjusted:
Quantity
do
Value
do__.
Unit value,-.
_
__
do...
Im ports:
Total value, unadjusted..
do...
Total value, adjusted
do...
Imports for consumption, unadjusted:
Quantity.
1923-25 = 100.
Value
do_._
Unit value
do.__
Exports of agricultural products, quantity:
Total:
Unadjusted
1910-14=100.
Adjusted
_
do.__
Total, excluding cotton:
Unadjusted
do...
Adjusted
.
do
58
57
104
70
61
68
85
59
69
60
65
60
62
67
70
66
64
61
61
76
76
74
74
115
62
54
117
63
54
124
68
55
123
67
54
114
63
55
135
75
56
125
71
57
62
70
86
87
140
81
58
71
75
76
81
70
79
100
71
72
107
77
72
72
141
87
62
140
87
62
82
155
93
60
145
88
61
35
46
76
52
62
39
36
33
37
VALUE
Exports, incl. reexports
..thous. of dol-By grand divisions and countries:
Africa.
do
Asia ond Oceania
...do
Japan
do
Europe*..
do
France
do
Germany
do
Italy
do
United Kingdom
...do
North America, northern
do
Canada
do
North America, southern
do
Mexico
do
South America
do
Argentina
do
Brazil
do
Chile
do.__.
By economic classes (U. S. mdse. only):
Total
thous. of dol__
Crude materials
do
Cotton, unmanufactured
do
Foodstuffs, total
do
Foods tuft's, crude
do
Foodstuffs, mfgd
do
Fruits and preparations
do
Meats and fats
do_
Wheat and flour
do.
Manufactures, semi
do.
Manufactures, finished
do.
Autos and parts
do
Gasoline
do
Machinery.
do
Genera] imports, total
do
By grand divisions and countries:
Africa
do
Asia and Oceania
do
Japan.
do
Europe
do
France
do
Germany..do
Italy
do—.
United Kingdom
do
North America, northern
do
Canada
do
North America, southern
do
Mexico
do
South America
do
Argentina
do
Brazil
do
Chile
do....
By economic classes (imports for consumption):
Total
-.thous. of d o l . .
Crude materials
do
Foodstuffs, crude
do
Foodstuffs, manufactured
do
ManufacturevS, semi
do
Manufactures,
finished
do
267,185
12,169
55, 452
25,194
98, 856
11,221
8,973
6,953
34, 037
47,914
47,013
26, 038
9,968
24,934
8,313
4,764
1,903
175, 556 217, 535 261,963 223, 321 226, 605 217,949 229,050 252, 268 264, 852 285, 087
50, 393 51,996
38, 127 72, 819 100, 418 82,173
67, 383 60, 587 54, 410 52,152
12, 360 38, 221 58, 402 46, 969 40, 220 37,461
34,066 34, 272 28, 572 24, 643
19, 675 23, 349 24, 923 13, 697 13,112
16, 342
13, 062 22, 524 17, 475 16,496
4,100
4,143
3,584
5, 725
7,490
4,369
3,644
3,598
3,522
5,697
13, 950 17, 652 17, 433
9,468
9,464 19, 002 13, 375 12, 353 12, 758
9,328
4,959
5,510
8,719
4,263
3,727
4,579
3,776
9,903
10, 438 11,831
3,320
3,151
3,135
3,409
3,997
3,560
3,325
2,980
2,624
3,013
2,212
1,927
1,656
2,541
2,618
1,429
1,931
1,894
1,815
2,424
36, 668 32,826
32, 287 31,860
34,901
34,156
37, 937 53, 005 56, 058 71, 752
85; 467 89, 508 99, 953 94, 626 111,208 110,144 114,179 129, 635 141, 905 144,997
12, 359 12, 451 15, 766 21,218
28, 769 27, 586 25,974 28, 819 30, 791 33,169
5,349
5,372
4,983
4,534
5,882
6, 768
3,993
5,307
5,062
5,495
25, 178 27, 307 31,760
26, 408 30, 788 31,532
31,475 36, 985 43,547 42, 252
192, 375 215, 645 212,464 196,491 244,321 240, 396 277,805
287, 252 285,038
256,503
42,004
16, 835
15,970
4,425
11, 545
4,225
3,269
2,645
63, 321
135, 208
29, 721
6,529
40, 814
285,946
12, 553
9,228
92,188 100,503
20, 423 18, 244
73,880 72,386
6,596
6,249
7,513
7,714
4,329
4.375
17, 353 18,002
35, 327 36, 889
35, 198 36, 479
34, 909 29, 284
7,039
5,150
38,395 36, 748
11,408
13, 732
10,004
8,181
7,512
5,469
8,470
98,010
18, 637
69, 073
5.545
7,579
3,593
18,044
39,113
38, 350
27, 521
5,611
43,759
18, 060
10, 642
5,349
196, 516 200,090 218, 370 213, 209 200,391 239.835 228, 682 260, 320 295, 928 281, 717 278,777
56, 022 61,663
69, 437 62, 758 61, 226 75, 383 77,045 90,930
91,616
88, 681 91,800
24, 529 28, 627 31,063
33,802
30, 582 40. 221 38, 727 41, 399 45, 251 39, 541 37, 362
34, 726 27, 630 33,149
27, 512 27, 705 33,036
29, 648 34,929
52,162
47, 090
51,410
40,814
42,660
40,817
48,967
40, 536 40,638
46, 533 52,187
57, 853 54, 535 55, 847
41,356
38,579
43, 904 48,601
40, 241 42, 228 36,729 40,875
49, 046 47, 550 46,679
278, 742
92, 547
41, 618
38,462
58, 871
47, 244
176,397
30, 379
10, 788
15, 036
3,774
11, 262
4, 952
4,088
1,335
33, 282
97, 701
16,915
5, 036
29, 311
194,114
4,044
20,024
3,597
7,241
1,433
438
554
750
774
581
778
264, 740 225, 766 229, 739 221, 550 232, 504 256, 390 269,170
265,363
2,803
66, 099
12,187
55, 049
4,657
7,570
2,861
14, 305
30, 990
30, 594
19, 149
263,
77,
37,
39,
59,
48,
220,149
289,928
10, 562
35, 725
11.975
64, 462
f», 448
7,041
2,873
27,381
32, 016
31, 296
17,819
6,830
19, 243
5,957
3, 560
1, 540
264, 615
34,359
9,356
17,412
5, 922
11,490
3,776
3,162
4, 532
68,865
143, 978
29,414
6,719
46, 093
265, 349
178,314
13,547
13,467
57,794 68,907
20,928 36,177
99, 362 101,905
12. 233 12,466
12,308
7,097
7,487
6,325
29, 840 35, 501
46, 013 52, 008
45,146
51,144
28, 234 27,182
10, 616
8,879
24, 221 26, 458
6, 656
7,785
4,770
5,927
2,002
1,839
179, 828
33, 570
10, 764
69, 978
8,484
5,840
2,285
33, 223
32, 251
31,516
18,528
6,348
15,159
4,124
3,557
1, 071
3,164
60, 845
16, 948
57, 089
5,759
6,023
2,480
15,444
36,620
36,161
12, 515
3,258
22,141
4,173
7,682
1,667
10,919
9,451
43, 654 51,065
21, 328 26, 663
98. 037 122,697
14. 929 17, 102
10, 213 10, 905
5, 699
2,868
59,511
47,498
32, 142 39,180
31, 498 38,442
21,456
19,370
6,670
6,381
19,423
16,596
4, 646
5,296
5,032
3, 516
1,272
1,051
3,585
67, 733
16,017
66, 291
5,905
7,212
3,171
17, 524
36, 015
34, 998
17,103
3,055
24,918
6,546
9,455
1,476
3,581
61,189
15, 930
70, 722
6,807
8,767
4,756
18,548
39, 068
38, 532
13,166
3,691
24, 739
7,585
8,758
1,601
8,208
44, 200
24, 100
98, 236
11,410
9, 550
5,401
43, 839
36, 539
35,905
19, 771
6,799
18,812
5,320
4,867
1,288
3,800
53, 698
15, 340
64, 695
6,165
6,567
4,416
16, 625
38, 775
38, 331
12, 377
3,435
23,146
7,583
8,466
980
12, 651
41, 180
16, 433
99, 863
15, 808
8,995
5,907
40. 623
33, 137
32, 556
22, 616
7,723
20, 291
6,317
4,237
1,579
6,284
66,805
16, 427
80,890
7,137
7,616
4,812
26, 443
39, 550
39, 010
17, 607
4,640
33,184
8,181
11,462
2,520
10,094
49, 281
22, 364
88, 677
13, 492
7,056
6,633
35, 282
31, 687
31, 297
22,047
6,965
19,763
5,312
4,162
1,668
10, 604
49,816
24, 745
95, 474
13, 101
8,882
6,071
38,847
31.926
31,643
24, 591
7,877
20,093
5.928
3,979
1,554
7,573
76,843
17, 683
67, 213
9,350
92,112
18, 382
73, 209
5,859
7,717
4,291
6,800
6,394
4,162
18, 453
33, 975
33, 089
22, 361
19, 056
30,811
30, 568
27, 787
5,509
44,536
16.199
10. 999
5,119
32, 431
8,467
11,534
2,898
10, 049
61, 579
29, 971
97, 060
12, 440
9,292
6,979
34, 036
38, 266
37, 631
26, 594
9,401
22, 842
5, 839
5,319
1,538
11, 389
95, 863
17, 660
80, 522
7,559
7,978
3,878
20, 606
37, 625
37, 096
35,125
6,981
46, 175
18,166
10, 545
5,110
TRANSPORTATION AND COMMUNICATIONS
TRANSPORTATION
Express Operations
Operating revenue
Operating income.--
thous. of dol_.
__.
do
8,323
119
8,371
120
8,809
115
8,975
120
8,930
124
10,021
125
8,752
130
8,749
129
9,344
135
9,177
130
8.042
720, 396
53. 553
8.025
704,446
52,612
8.025
737, 523
54, 701
8.025
814, 254
59,900
8.025
777,157
57,047
8.025
847, 775
62,446
8.025
803, 620
57,834
7.991
757,518
55,042
7.991
859, 898
62, 529
7.991
819, 952
59,459
Electric Street Railways
Fares, average, cash rate f
Passengers carried
Operating revenues
cents..
thousands
thous of dol._
7.984
721, 837
fData revised for period July 1935-March 1937. See p. 37 of the June 1937 issue.
7.991
815,109
59,684
7.984
772, 604
56,924
38
SURVEY OF CURRENT BUSINESS
Monthly statistics through December 1935, together with explanatory notes and references
to the sources of the data may be found in the
1936 Supplement to the Survey
1937
July
September 1937
1936
July
August
Begem-
1937
Decem- January
October November
ber
February
March
April
May
June
TRANSPORTATION AND COMMUNICATIONS—Continued
TRANSPORTATION— Continued
Steam Railways
Freight-earloadings (Federal Reserve) :f
Combined index, unadjusted..1923-25=100..
Coal
do
Coke.
.do....
Forest products.
_
.do
Grain and products
do
Livestock.__
__
do
Merchandise, 1. c. 1__
do
Ore.
do
Miscellaneous
-do
Combined index, adjusted
..do
Coal
do....
Coke.
-do
Forest products
do
Grain and products
do
Livestock
do
Merchandise, 1. c. 1
do
Ore
do
Miscellaneous
do
Freight-earloadings (A. A. R.):
Total cars 1
thousands..
Coal
.do....
Coke
do
Forest products
do
Grain and products
do—
Livestock
do
Merchandise, 1. c. 1
.do—
Ore
-.
.do....
Miscellaneous
do
Freight car surplus, total
-do—
Box cars
--do—
Coal cars
do—
Financial operations (Class I Railways):
Operating revenues, total
thous. of dol__.
Freight...
-—
--do
Passenger
do—
Operating expenses
do
Net railway operating income
--do—
Net income...
do—
Operating results:
Freight carried l-mile_
.mils, of tons..
Revenue per ton-mile
cents
Passengers carried 1 mile
millions—
Canals:
Waterway Traffic
Oape Cod
thous. of short tons..
New York State
do....
Panama, total..
thous. of long tons..
In U. S. vessels
do—
St. Lawrence...
_.thous. of short tons..
Sault Ste. Marie
..do....
Suez...
thous. of metric tons..
Wellandthous. of short tons..
Rivers:
Allegheny
do—
Mississippi (Government barges)
do—
Monongahela
.do—
Ohio (Pittsburgh district)
do_._.
Clearances, vessels in foreign trade:
Total
_
thous. of net tons..
Foreign
do—
United States...
do_._.
Travel
Operations on scheduled airlines:
Express carried
.pounds.
Miles
flown
.thous. of miles.
Passenger-miles
flown
-do.-.
Passengers carried
number.
Hotels:
Average sale per occupied room
dollars.
Rooms occupied
percent of totalRestaurant sales index
1929=100.
Foreign travel:
Arrivals, U. S. citizens
..number.
Departures, U. S. citizens...
do...
Emigrants
do...
Immigrants
do.._
Passports issued
do_.National Parks:|
Visitors
_
do...
Automobiles
do—
Pullman Co.:
Revenue passengers carried
thousandsRevenues, total
__thous. of dol.
COMMUNICATIONS
Telephones: §
Operating revenues
. t h o u s . of dol.
Station revenues
_
.do...
Tolls, message
do...
Operating expenses
do
Net operating income
_-_do_-.
Phones in service end of mo
thousands.
Telegraphs and cables:
Operating revenues
thous. of dol.
Commercial telegraph tolls.
_do._.
Operating expenses
do
Operating income
do.-.
77
68
71
50
89
46
67
141
85
76
78
86
48
74
46
67
76
83
84
80
83
50
71
57
70
151
95
75
3,701
605
43
181
217
77
828
274
1,476
146
81
30
3,061
531
39
139
127
73
663
226
1,264
125
71
23
365, 148 349,671 350, 585
293, 107 •283,879 283, 602
42, 071 ' 39,145 39,321
266, 641 •248, 318 246,299
64,681
60, 558 '61,722
19, 283 20,857
357,207
291,772
36,356
24S,553
70,166
26, 406
31,144
1.002
2,261
32, 076
.971
2,308
33,049
.964
2,064
37,148
.955
1,913
33, 865
.957
1,798
33, 980
.963
2,164
33,130
. 898
2,030
32,212
.908
1, 797
258
738
2,450
976
997
10,951
2,150
' 1, 321
232
605
2,396
1,058
1,060
10, 699
2,554
1,366
258
821
2,526
1,054
1,130
11, 041
2,172
1,407
281
722
2,463
1,386
10,789
2,172
1,645
255
717
1,747
485
999
7, 094
2,302
1,309
288
0
1, 539
214
22
373
2,346
232
.325
0
1,856
281
0
0
2,689
0
~2, 298
1,166
405
143
2,564
1,399
404
138
2,623
1,461
378
127
2, 569
1,425
428
129
2,661
1,452
134
129
2,446
1, 355
260
103
2, 601
1,372
7,338
5,333
2,016
6,564
4,418
2,146
6,886
4,694
2,192
6,668
4,606
2,061
5,973
4,209
1,784
4,881
3,631
1, 249
82
64
88
57
111
32
67
203
90
80
76
104
57
81
37
68
107
88
3,812
548
51
201
251
53
805
384
1,518
137
65
36
282
2,476
956
1, 286
14,137
1,634
357
77
65
73
47
117
41
66
139
84
76
77
87
47
85
47
66
73
82
' 3, 573
'556
' 43
' 166
••266
'67
'792
' 1, 420
147
77
37
611,562 613,837 565,358
6,239
6,043
6,046
50, 798 44, 364 43,109
120, 571 111,072 106,143
86
90
87
49
69
65
69
134
97
77
82
87
47
69
46
66
76
91
102
49
64
34
66
27
82
82
77
76
51
70
41
68
114
95
80
92
96
52
62
34
69
29
90
83
87
92
51
68
42
69
114
94
79
68
86
51
63
39
70
102
94
84
81
102
49
70
43
69
249
91
80
66
85
55
58
39
69
187
93
80
77
88
53
64
44
69
133
90
79
65
82
55
72
33
68
192
90
78
76
89
52
74
41
67
113
87
3,003
670
47
151
115
46
682
44
1,249
113
58
17
2; 955
473
32
m
3,898
593
52
198
136
68
856
363
1,632
147
80
30
2,977
443
39
156
123
44
653
293
1,225
137
70
31
321,927 377, 813
264?167 313, 881
34,952
33,016
244,146 266, 272
38,
359
69,379
d
5, 727 24,461
351, 573
288, 631
3?s 733
262. 019
47,' S07
2, 667
352, 614
287,919
34,042
267, 296
43,663
M8
351, 704
281,878
38,510
265, 579
58, 940
18, 560
36,651
.938
1,921
32, 266
979
1, 856
34, 093
.928
1,902
31,866
275
0
1,840
467
0
0
2, 377'
0
317
0
3,016
1,255
0
0
2,795
0
286
305
2 653
1, 005
391
4, 020
3, 151
667
319
577
2,951
1,077
1,244
14,110
2,780
1,623
301
792
2,670
1,018
1,310
14,161
2,628
1,660
129
79
1,896
854
193
89
2, 496
1,325
236
131
2,689
1,337
148
172
1, 998
845
314
179
2,397
1,237
155
2,198
1,089
4,351
3,255
1,096
4,199
3, 156
1,043
4, 244
2 997
1^ 248
5,384
3,898
1,486
5, 731
4, 154
1, 577
6, 238
4,495
1,744
7,041
5,107
1,934
652, 930 799,266 751,890 663, 721
5,756
5,639
5,301
5,913
43,510
42, 891 37, 952
44,411
101, 239 102, 917 96, 019 82, 022
554,030
4,199
21, 379
46,012
500, 004 580, 602
4, 600
5,486
26,108
34,584
58, 008 74, 972
540, 310
5, 350
33,136
76, 198
591,011
5,784
42,019
98,035
87
46
63
44
67
86
85
77
92
97
46
71
45
66
23
84
83
82
88
54
83
46
69
92
92
73
89
97
42
65
42
64
26
78
80
78
83
48
73
43
67
117
90
2,776
625
45
132
130
59
632
33
1,119
133
65
30
3,317
759
58
149
148
68
764
49
1,322
131
64
26
391,457 358,548 372. 265
326,056 298,220 299,231
32, 083 39, 262
33,914
261, 212 248,285 257, 424
89, 851 72.411
70, 520
46,234
30, 083 49, 678
331,685
268,651
37, 441
253, 664
38, 437
d
4, 598
86
4,096
791
53
178
161
109
856
264
1,683
112
65
17
67
133
90
3,013
625
45
136
131
77
651
113
1,236
121
23
2,778
628
48
140
117
45
640
42
1, 117
113
54
19
148
120
50
690
121
1. 310
134
650,709
5, 811
47, 290
110,842
3.19
62
93
2.98
61
89
3.10
61
91
3.09
66
91
3.14
69
95
3.28
65
3.10
60
91
3.12
70
92
3.22
66
90
3.09
68
89
3.24
71
107
3.05
67
97
16,498
30, 346
36, 361
2,780
3,571
16,980
61, 230
57,067
3,004
3,891
8,198
63, 575
48, 693
2,612
4,606
6,564
33.176
36, 246
2,436
5,101
5,659
16, 973
22, 983
2,708
3,871
5,865
19,573
21, 222
2,653
4,082
6,104
19, 686
21, 757
1,897
2,958
7,046
27, 680
30, 655
1,413
3,224
7,716
33,370
30,410
1,422
3,720
15,151
30, 708
25, 404
2,085
4, 742
24, 784
23,168
24,501
1,412
5,033
33, 202
31,491
622, 721 258,495
175,090 77, 712
77, 783
24,926
46,127
14,102
43,715
13,019
50, 307
14,211
40. 608
11, 530
59, 673
17,021
73, 079
22, 05G
172,938
51,391
340, 550
101,466
1, 419
001
1,364
4,660
1,478
5,085
655,786
182,958
1,516
5,019
1,565
5,211
1,519
4,929
1,469
4,959
1,351
4,309
1,497
4,772
1,605
5,697
1, 385
4,973
1,475
5,439
91,129
57,681
25,406
62,136
18, 298
15, 549
89,571
56,727
24, 692
59, 960
18, 853
15,622
90, 668
58,441
24,095
60, 923
19, 277
15, 762
93,979
60, 781
24,984
61,910
22,142
15, 880
92,393
60, 285
23,843
61,363
21, 274
15, 961
96, 638
62,046
26, 340
63,891
23, 822
16, 067
94, 277
61, 457
24, 420
61,453
20, 774
16,160
91, 263
60,138
22, 658
60, 301
19, 072
16, 259
97, 049
62, 286
26,156
64,862
20,043
16, 375
96,
62,
25,
63,
20,
16,
133
432
259
959
106
497
96,415
62, 557
25, 296
65,035
19,151
16, 604
10, 534
8, 258
8,718
1,399
10,121
7,917
8,616
1,088
10, 321
8,010
8,608
1,300
10, 564
8,134
8,600
1,438
9,803
7, 541
8,310
1,070
11,893
9,326
9, 800
1.481
10, 326
8,049
8, 854
878
9,653
7,419
8,441
634
11,305
8,817
9,153
1,527
10,437
7,994
9, 061
795
10,518
8,083
9,335
597
3.15
65
100
d
' Revised.
Deficit.
*| Data for August, October 1936, January, May, and July 1937 are for 5 weeks; other months, 4 weeks.
i While the number of telephone carriers reporting has varied somewhat, the coverage has shown very little change, and the series are comparable for all practical purposes,
t Revised series. For freight-earloadings revisions for period 1919-36 see table 24, pp. 17 and 18 of the July 1937 issue. For revisions of National Parks for period 1919-36
see p . 20 of the December 1936 issue.
http://fraser.stlouisfed.org/
Federal Reserve Bank of St. Louis
39
SUEVEY OF CURRENT BUSINESS
September 1937
Monthly statistics through December 1935, together with explanatory notes and references
to the sources of the data, may be found in the
1936 Supplement to the Survey
July
1937
1936
1937
July
August SeptemOctober
ber
Novem- Decem- January
ber
ber
February
March
April
May
June
CHEMICALS AND ALLIED PRODUCTS
CHEMICALS
Alcohol, denatured:
Consumption
thous. of wine gal..
Production
do
Stocks, end of month
_
do
Alcohol, ethyl:
Production..
thous. of proof gal..
Stocks, warehoused, end of mo.
do
Withdrawn for denaturing
do
Withdrawn, tax paid
do
Methanol:
Exports, refined.
gallons..
Price, refined, wholesale (N. Y.).dol. per gal..
Production:
Crude (wood distilled)
gallons..
Synthetic
do
Explosives, shipments
thous. of lb_.
Sulphur production (quarterly):
Louisiana
long tons..
Texas
_.
_..
do
Sulphuric acid (fertilizer manufactures):
Consumed in production of fertilizer
short tons..
Price, wholesale, 66°, at works
dol. per short ton..
Production
short tons,.
Purchases:
From fertilizer manufacturers
do
From others
_
do
Shipments:
To fertilizer manufacturers
do
To others
do
6,584
6,753
1,822
'6.155
r
6, 122
2,666
6,949
6,927
2,635
8,478
8,604
2,756
16,103
15, 034
1, 682
12, 946
12, 584
1,311
11,243
11, 079
1,131
6, 715
6,810
1,509
5,410
5,477
1,273
18,254
30,922
13,010
2,242
'17,517
r 25, 049
10, 591
2,780
17, 998
27, 475
12, 458
2, 529
16, 893
26, 363
15, 298
2,359
22, 086
18,842
26, 258
2,952
20,170
13, 360
22, 161
3,215
19, 943
9,702
19, 456
3,315
18, 707
14. 035
11, 553
2,272
19.8,21
9, 334
2, 094
12,113
.36
18,090
.38
48, 400
.38
34, 976
.38
66,689
.38
30, 888
.38
146, 621
.38
48, 891
.37
205, 150
.36
6,534
6, 542
1,275
6, 716
7,105
1, 659
7, 511
7, 442
1,578
8,233
8, 325
1,657
19. 883
16, 823
25,218
26,651
11,253 I 12,3(10
2, 926
2, 740
16,938
27, 428
13,013
2,684
IS, 654
28, 465
15,173
2, 392
30,149
.36
72, 540
.36
51,344
.36
148,197
.36
465, 205 384,751 447,499 429, 500 511,541 520, 722 548, 982 525. 070 500, 6S5 546.602 ! 531,727 522, 961
2,564,783 1,950,825 2,309.377 2,695.591 3,278,052 3,417,755 !.009,952 1,835,815 ,849.302 '2,071,747 j2,138,895 2,353,407
34,151
30, 484
32, 567
37, 453
36, 472
35.055
27,894
28, 272
42, 838
41, 870 31, 972
27, 291
62, 700
513,286
73, 605
436, 338
485, 943
, 263, 507
r
29, 327
53, 915
475, 924
140, 230
99, 325
114, 521
120, 370
163, 265
175,123
180, 560
16.50
166, 927
15.50
121,166
15.50
141, 501
15.50
135, 717
15. 50
169, 814
15. 50
176, 500
15. 50
182, 217
15. 50
176. 492
27,769
32,876
29, 712
21, 111
30, 065
23, 383
32. 304
22, 918
43,439
31,710
39, 203
44, 523
43, 844
34, 272
29,958
57,833
22, 106
53, 351
31, 221
45, 962
24,103
51,118
23, 477
56,538
27, 388
57, 756
44
151,082
13. 311
123, 950
513
64, 619
35,320
6, 773
1,779
24,844
61
126,899
9,131
105, 539
298
64,514
36, 250
5,640
4,480
19, 427
145
150, 753
14,470
121, 554
799
72, 382
32, 651
1,383
2,494
32, 310
100
123,609
12,004
99, 750
450
99,001
49,126
2, 683
3,951
40, 884
164, 320 164, 880
196,134
172, 936
146, 301
121,716
15. 50
193. 979
15. 50
ISO, 040
15. 50
176, 703
16.00
154, 275
34. 201
40, 372
24,494 i 24,782
35, 749
47, 680
20, 267
36, 149
15, 993
38, 509
20,942
39, 880
37, 840
44, 86u
38, 739
47,169
30, 551
41, S64
21.137
50, 985
17, 600
50, 239
35, 149
50, 692
21, 658
62, 464
178
68,721
12. 106
53, 393
119
161, 112
67, 345
29, 431
3, 526
87, 983
414
61,002
8, 006
49, 340
173
199.312
80,513
52, 633
5, 580
111,929
1,752
106.297
23,430
77, 390
224
260.223
181,213
97. 979
15, 752
55, 193
1, 356
122. 863
15, 470
97, 380
450
253,005
200, 927
137, 008
7, 869
32, 951
166, 234
15,562
142, 037
421
180,101
130,050
85, 121
12,972
13, 992"
115
120, 301
12, 792
84, 654
247
122, 483
92,311
52, 578
13, 687
9, 646
15. 50
178, 979
r
FERTILIZERS
Consumption, Southern States
thous. of short tons.. 58,216
Exports, total
_
long tons.. 150, 583
Nitrogenous
do
18, 001
Phosphate materials
do
46, 651
Prepared fertilizers
do
907
Imports, total
do
80,970
Nitrogenous.
do
40, 978
2,766
Nitrate of soda
do
8,784
Phosphates
._
do
Potash.
d o . . . . 29, 091
Price, wholesale, nitrate of soda, 95 percent
(N. Y.)._
-dol. per cwt..
1.430
Superphosphate (bulk):
Production
short tons..
Shipments to consumers
do
Stocks, end of month
do
173,
37,
127,
167,
48,
19,
2,
57,
1.325
1.325
243,162
9,510
770, 790
256, 792
21,113
845, 381
299,065
127, 378
876,563
369, 335 389, 369 393. 600 377, 200 371,882
32,137
72, 254
23, 502
35, 023
69. 007
985,632 1,117,011 1,133.640 1,125,576 1,075,640
443,367
365, 784
415, »22
404,932
405, 527
404,105
413,078
9.08
105, 477
124,105
5.83
108, 648
173, 946
6.91
101, 939
188,065
7.23
95, 693
194,883
7.29
81,814
194,175
8.25
70, 372
192, 780
10.32
10.95
71,307 I 48,861
190,325 167,947
65, 561
139, 542
55,151
79,128
58, 572
76,110
57, 789
77, 767
57,809
77, 718
58, 023
69, 936
57, 261
65, 416
60, 620
63, 924
58, 068
62, 392
60, 947
75, 725
.39
27,066
84, 627
.42
29,810
108, 550
.43
26,173
113,983
.42
21,894
114,127
.41
18,533
113,702
.43
14,457
109, 955
.47
11, 620
105, 431
.48
5, 64(5
96, 090
.47
2. 004
85, 070
10,022
15, 554
8, 523
7,669
8,785
8.019
8,578
10,228
8,731
12, 634
8, 8G6
14, 840
9,100
16,906
9, 632
18, 768
9,061
21, 196
1.325
1.375
1.375
1.375
1.375
1.375
1.375
1.375
1.375
430, 680 376, 356
218, 159 263, 078
894,768 644, 530
340, 532
114,429
649, 076
291,273
31,248
751,413
429,182
463, 993
424,182
9.98
9.13
8. 25
25,296
27,818
53,433
128,241 j 109,057 105, 132
8. 51
83, 763
99, 931
98,076
104, 307
61, 742
94,311
62, 399
113,020
63, 428
130, 502
.44
4,577
76, 986
.41
14,688
69, 802
.41
23, 377
70,173
.39
27, 579
73, 250
9, 840
9, 840
20, 035
9, 6.37
18,325
9, 208
15, 423
NAVAL STORES
Pine oil, production
gallons..
Rosin, gum:
Price, wholesale, " B " (N. Y.)..dol. per bbl_.
Receipts, net, 3 ports
bbl. (500 lb.)..
Stocks, 3 ports, end of month
do
Rosin, wood:
Production
do
Stocks, end of month
.do
Turpentine, gum, spirits of:
Price, wholesale (N. Y.)
.dol. per gal..
Receipts, net, 3 ports
bbl. (50 gal.)..
Stocks, 3 ports, end of month
do
Turpentine, wood:
Production
do
Stocks, end of month..
do
404,052
405, 642
439, 006
OILS, FATS, AND BYPRODUCTS
Animal Fats and Byproducts and Fish
Oils (Quarterly)
Animal fats:
Consumption, factory
thous. of lb..
Production..
_
do
Stocks, end of quarter
do
Greases:
Consumption, factory
do
Production
do
Stocks, end of quarter
do
Lard compounds and substitutes:
Production
do
Stocks, end of quarter
do
Fish oils:
Consumption, factory
_
do
Production..
do
Stocks, end of quarter
do
245, 453
375, 493
358, 645
229 922
463,' 972
402, 244
239,164
393, 281
426,068
208, 420
342, 708
376,211
53, 265
82,139
64, 321
58,413
89, 332
60, 731
65, 356
81, 845
56, 166
58,316
78, 132
58, 390
438, 606
40, 619
432, 209
44,930
357, 328
46, 503
345,008
45, 585
77,074
82, 201
155,492
82, 502
123, 684
216,156
90, 496
28, 950
218,106
75, 632
12,563
149, 489
Vegetable Oils and Products
Vegetable oils, total:
Consumption, crude, factory
Exports
Imports
Production (quarterly)
Stocks end of quarter:
Crude
Refined
_
r
Revised.
(quarterly)
thous. of lb..
762
do
do
125, 913
do
do
do
490
84,853
405
77, 886
718,747
362
62,429
484, 565
551, 613
288, 572
394
1,228
83,07'
1,114,164
190
;6,164
575, 893
486, 208
290
82, 753
360
130,545
989, 620
747
89, 745
783, 648
564,757
655, 726
591
113,895
648
114,689
737, 509
408
135, 291
504,491
587, 563
617,942
40
SURVEY OF CURRENT BUSINESS
Monthly statistics through December 1935, together with explanatory notes and references
to the sources of the data may be found in the
1936 Supplement to the Survey
1936
1937
July
September 1937
July
1937
Decem- January
August SeptemOctober November
ber
ber
February
March
April
May
June
CHEMICALS AND ALLIED PRODUCTS—Continued
OILS, FATS, AND BYPRODUCTS—Con.
Vegetable Oils a n d Products—Continued
Copra:
Consumption, factory (quarterly)
short tons.
Imports
do
20,141
17,416
Stocks, end of quarter
.do...
Coconut or copra oil:
Consumption, factory:
Crude (quarterly)
thous. of lb.
Kefined (quarterly)
do...
9, 554
6, 568
In oleomargarine
do
26,178
33, 835
Imports
_
do...
Production (quarterly):
Crude..
do...
Refined
do...
Stocks, end of quarter:
Crude
do...
Refined
do._.
Cottonseed:
Consumption (crush)
short tons.. 37, 549 36, 455
31, 492 22, 332
Receipts at mills
do
39, 783 21, 926
Stocks at mills, end of mo
do
Cottonseed cake and meal:
115
Exports
do
20, 154 18, son
Production
do
41, 084 65, 053
Stocks at mills, end of mo
do
Cottonseed oil, crude:
13, 698 11,057
Production...
thous. of lb.
9,684
19,192
Stocks, end of month
do
Cottonseed oil, refined:
Consumption, factory (quarterly)
do
9 282
7,612
In oleomargarine
...do
Price, summer, yellow, prime (N. Y.)
.092
.098
dol. per lb.
Production
_
thous of lb. 22, 386 29,637
Stocks, end of month
d o . . . 440, 947 318,873
Flaxseed:
2,063
117
Imports.
thous. of bu.
Minneapolis and Duluth:
255
98
Receipts
do
291
211
Shipments
do_-_
285
528
Stocks, end of month
do
Oil mills (quarterly):
Consumption
do...
Stocks, end of quarter
do...
2.03
2.06
Price, wholesale, No. 1 (Mpls.)._dol. per bu.
Production (crop est.)
thous. of bu. •8,014
6,693
"8," 299"
Stocks, Argentina, end of mo
.do
Linseed cake and meal:
Exports
thous. of lb. 67, 032 20.469
14,151
12,891
Shipments from Minneapolis
_--do__.
Linseed oil:
Consumption, factory (quarterly)
thous. of lb_
.111
.100
Price, wholesale (N. Y.)
._..dol. per lb.
Production (quarterly)
thous. of lb_
~8~567
"7," 273"
Shipments from Minneapolis
do...
Stocks at factory, end of quarter
_-.do.__
Oleomargarine:
Consumption (tax-paid withdrawals)
27, 724 26, 796
thous. of lb.
Price, standard, uncolored (Chicago)
.125
.135
dol. per lb.
Production
thous. of lb. 26, 215 27, 695
Vegetable shortenings:
.129
.117
Price, tierces (Chicago)
dol. perlb.
14, 789
49,164
24, 933
14,865
169, 416
93, 648
11, 749 13,964
14, 273 15, 689
22,185
5,085
13,619
23, 500
10, 271
32,712
41, 739
4,540
10,671
143,565
80,676
10,916
29,186
8,900
5, 713
39,345
41,966
47,588
15,192
12, 517
12*, 644
57, 599
5,197
6,587
21, 463 17, 651
63,004
95,678
53,142
73,900
61, 945
66, 228
77,121
14,241
59, 551
15, 458
62, 719
12,170
17,899
4,096
36,110
4,094
24, 280
549
264,173
126.014
185
160
488
321
181
296,173 251, 586 191, 874 144, 532 84, 682
214, 731 224,460 198,768 138, 668 101,199
29, 787 176, 256 222, 294 203, 416 195, 763 175,942 129, 311 99,701
59, 428
26, 547 92, 667 121, 398 143,182 142,021 146, 396 128,164 100, 950 68,186
7,6
.101
22, 725
237. 220
827
331, 248 310,738
190, 068
1
34, 515
73,169
35, 871
49,139
22, 894
21, 373
12, 557
336, 375
10, 961
.102
.099
.114
.100
.106
.105
.110
.110
.111
92, 306 179, 721 183, 558 168, 381 167, 362 141,777 134,254 92. 139 54, 025
228, 764 307,369 385, 250 418,087 460,448 529, 781 579, 427 586, 597 566, 704
.100
50,105
517,334
332, 216
9,081
10, 042
10, 373
333,099
12,689
671
1,813
1,747
2f707
1,489
336
318
783
703
3,466
742
746
264
709
484
310
470
2.15
4,817
2,
2.14
2.16
.103
70, 211
30, 893
45, 840
146
54, 249
84, 223
1,539
665
668
24,140
11, 365
112, 883
55, 460
5,614
32, 677
56, 353
69, 448
94, 831
13,337
102, 451 592, 820 748,126
186, 254 656, 240 582, 373 417,753 319,882 179, 005 111, 306
252, 834 1,258,890 1,178,322 91, 036 535,511 209, 533 102, 577 64, 086 22, 439 38,851
168, 145 838, 379 1,274,173 1,378,955 1,258,226
570,210 314,179 157, 613 85,158
506
46, 774
45, 561
44, 380
25, 822
10, 294
32, 581
3,205
79,705
.101
91,098
3,538
98,411
3,937
"27756"
6,931
2,864
2.21
b
5,
4,331
37,625
11,313
40. 403
12, 229
56, 569
10,068
2.13
.096
13,752
12,911
1,139
3,727
n
178
1
501
2.29
2.23
"6," 496" ""6,~299"
35, 468
9,163
40,766
7,256
322, 390
14, 643
740
11
541
8,175
3,048
2.20
14, 789
2,280
3,662
2,661
99
9
558
1,346
827
773
1,125
516
630
2.11
10,371
2,483
1.92
2.21
7,874
"7,"480" "6," 299"
6,693
61, 741
12, 289
74,209
9,586
70, 715
6,772
61, 781
11, 880
78,114
94,981
.096
.101
.104
.113
.099
.113
131,899
156, 877
4,784 "~5f~319" ~~5~693"
7,954 "8," 428" ""§," 343"
~~5,~839~
117, 268
137,472
.093
118, 260
.111
206, 512
8,314
142,411
31, 805
34, 426
35,144
34, 365
34,025
28,169
35,739
32, 407
29, 726
26,245
.134
30, 351
.138
33,711
.140
35, 586
.140
34, 209
.142
38,773
.150
30,956
.150
30,638
.150
35,994
.150
34, 349
.149
28,741
.140
27,945
.124
.125
.120
.120
.130
.137
.135
.136
.133
.129
.130
33, 380
22,338
9,095
13, 243
11,041
33, 450
22,338
9,564
12, 774
11,112
34,049
23,192
10,628
12, 564
10,857
28, 503
20, 037
10,018
10,019
8,466
29,465
19, 759
10, 223
9,536
9,705
30, 202
20, 726
9,080
11, 646
9,476
29, 749
20, 257
9,518
10,739
9,492
37, 866
26, 203
12, 214
13, 989
11,664
44, 562
31, 043
12, 462
18, 581
13, 519
43, 355
30, 346
12, 734
17, 612
13, 010
39,838
28, 213
12, 253
15, 960
11, 624
295, 405 362, 414 332, 591 366, 049 357,143
32,091
34, 768 51, 533 65, 321 ' 63,104
119,937 135,676 180,436 221,917 321,731
330,144
62,092
303,474
PAINTS
Paint, varnish, lacquer, and fillers:
Total sales of manufacturers.-thous. of dol.
Classifled
_
do...
Industrial...
„
do...
Trade
___
.do—
Unclassified
do
Plastic, cold-water paints, and calcimines:
Sales of manufacturers:
Calcimines..
___
..dollars.
Plastic paints
do...
Cold-water paints
do.__
34,495
24,452
11,217
13, 234
10,043
33,919
23, 393
10,287
13,106
10,526
261,462 297, 878 292,071 279,193
49, 389 50, 267 47, 268 41,672
139, 565 133, 825 149, 333 138,903
222,965 251,068
35,902 33,895
95, 783 98,048
CELLULOSE PLASTIC PRODUCTS
Nitro-cellulose, sheets, rods, and tubes:
Production
thous. of lb.
Shipments
do...
Cellulose-acetate, sheets, rods, and tubes:
Production,
thous. oflb.
Shipments
do...
ROOFING
Dry roofing felt:
Production
.short tons.
Stocks, end of month
do
Prepared roofing shipments:
Total
thous. of squares.
OritrolL.
do...
Shingles (all types)
_ do...
Smooth roll
_.do.._
b
1,281
1,396
1,225
1,198
1,463
1,502
1,787
1,532
1,806
1,648
1,594
1,420
1,398
1,479
1,715
1,561
1,976
1,687
1,795
1,639
1,692
1,628
1,627
1,450
1,536
1,600
831
1,002
746
1,162
1,468
1,204
1,027
1,462
1,316
1,438
1,313
1,255
1,112
853
742
1,270
1,397
1,621
1,764
1,411
1,313
1,170
1,099
1,113
1,043
22, 377
10, 323
20, 209
10,583
21, 833
9,550
23, 083
7,523
25,907
5,853
25, 628
5,753
21,361
6,381
24, 547
9,546
27,031
6,228
31,015
6,324
30, 909
8,240
27,160
9,711
21,988
10,811
2,152
588
717
847
2,509
637
784
1,088
2,994
783
908
1,303
4,306
1,181
1,119
2,005
1,140
1,760
2,592
633
626
1,333
1,462
327
385
750
2,386
516
549
1,321
3,589
774
785
2,030
2,329
540
587
1,202
2,423
521
929
974
2,517
610
984
924
2,280
619
783
878
Dec. 1 estimate.
• August 1 estimate.
41
SURVEY OF CURRENT BUSINESS
September 1937
Monthly statistics through December 1935, together with explanatory notes and references
to the sources of the data may be found in the
1936 Supplement to the Survey
July
1937
1936
1937
July
Decem- January
August SeptemOctober November
ber
ber
February
March
April
May
June
r
ELECTRIC POWER AND GAS
ELECTRIC POWER
Production, total t
mills, of kw.-hr_.
By source:
Fuels t—
do
Water power t
do
By type of producer:
Central stations t-do
Other producers
_
..do
Sales to ultimate consumers, total (Edison
Electric Institute)
mills, of kw.-hr__
Domestic service
do
Commercial—retail
do
Commercial—wholesale
do
Municipal street lighting.._
do
Railroads, electrified steam.
do
Railroads, street and interurban
do
Revenues from sales to ultimate consumers
(Edison Electric Institute)
thous. of doL.
10, 354
9, 082
9,814
9,722
10,176
9,785
10, 528
10, 151
9,247
10, 228
9, 868
' 9, 975
6,968
3,386
6,537
3,144
6,748
3,066
6,695
3,027
6,775
3,401
6,424
3,362
6,879
3,649
6, 315
3,835
5, 762
3,485
6,382
5,753
4,115
' 5, 624
4,352
9,838
516
9,121
561
9, 254
560
9,178
544
9,641
536
9,182
9,910
618
9.556
595
8,690
557
9,626
602
9,293
575
r 9, 442
534
7,519
1,159
1,317
4,362
7,723
1,180
1,361
7,910
1,261
1,402
4,540
197
99
338
8,093
1,324
1,421
4, 574
214
110
374
8,000
1,419
1,459
4,315
225
112
392
8,154
1,482
1, 501
4,298
235
124
433
8,359
1,668
1,616
4,258
218
118
410
7,973
1, 573
1, 534
4,115
184
95
401
8,217
1,425
1,451
4,553
181
120
414
8,270
1,418
1,466
4,672
102
8,114
1,323
1.399
169, 636 175, 597 179,972
183,066
187,094
194,554
171
99
342
167,672
4,487
188
97
340
in
367
4,727
147
104
346
10, 070
r 0, 335
' 3, 735
r
9, 543
520
8, 327
1,342
1,403
4,889
136
98
327
183, 586 177, 579 177, 861 174, 287
178, 539
10, 439
9,937
9,288
166
470
30, 758
10,858
3, 561
10,169
9,976
9,332
160
472
29,179
17, 522
1,299
10, 209
35, 502
21, 639
3,138
6, 585
30, 766
22, 303
1, 910
6,426
29, 908
22, 559
945
6, 299
6, 790
6, 911
6,816
6,410
6,278
6,251
6,295
510
499
512
519
135,179 127,633 125, 832 105,108
48,152 42,249 39, 563 20,459
85, 627 83, 791 84, 903 77 242
6, 709
0,296
472
95, 285
18, 848
75,080
GAS
Manufactured gas: t
Customers, total
_
.thousands..
Domestic
do
House heating
do
Industrial and commercial
..do
Sales to consumers—
mills, of cu. ft.
Domestic
do
House heating
_
do
Industrial and commercial...
do
Revenue from sales to consumers
thous. of doL
Domestic
_
do
House heating
do
Industrial and commercial
do
Natural gas: t
Customers, total
thousandsDomestic
_.do--.
Industrial and commercial
__do-_
Sales to consumers.
mills, of cu. ft
Domestic
..do...
Industrial and commercial
do...
Revenues from sales to consumers
thous. of dol.
Domestic
do
Industrial and commercial
do
9,641
9,041
125
464
25,163
15,967
629
8,390
9,654
9, 056
127
463
23,743
14.939
484
8,183
9,730
9,121
139
462
25, 753
16, 682
541
8,378
9,762
9,142
155
453
28,863
18,156
1,580
8,934
9,737
9,103
165
460
30, 824
16,335
4,965
9,323
9,754
9,110
172
462
33,853
16, 502
7,458
9,660
9,131
161
468
32, 470
17, 373
6,134
8,750
9,802
9,162
166
464
31,860
16, 443
6,173
9,046
9,809
9,168
158
470
32, 787
16, 993
5,843
9,740
27,121
20,956
493
5,569
25, 748
19, 772
398
5,467
27,824
21, 583
497
5,640
30, 213
22,946
1,184
5,959
30,700
21, 639
2,683
6,236
32,425
21, 579
4,157
6, 547
31,967
21,834
3,799
6,197
30,724
20,396
4,029
6,172
31,379
20,919
3,860
6,458
6, 536
6,093
442
82,166
14,348
67,007
6,565
6,120
444
84, 735
13, 256
70,271
6,610
6,162
446
87,869
13,980
72, 637
6,690
6,208
480
95,107
19,105
74,956
6,784
6, 268
514
112,410
30, 403
6,805
6,282
521
125,409
40,988
83,016
6,754
6,236
514
129,312
47,159
80,892
23,857
11, 597
12,132
23. 722
10, 992
12, 570
24,667
11,456
13, 047
28,645
14, 330
14,172
36,827
20, 501
16,165
43, 926
26, 328
17, 389
47,847
30,088
17, 558
48,975
30,525
18,162
45,234
27,162
17,841
42, 671
25, 194
17, 247
34,138
18, 702
15,192
28, 738
14, 530
14,018
3,140
3,537
7,660
4,176
5,054
8,345
4,507
5,482
9,098
5, 155
5, 009
9,408
6, 004
0, 437
9,570
6,804
7,045
5, 779
5,835
14, 203 22,385
12,836 20,255
408,598 422,883
394,947 408, 510
6,642
5, 450
21,734
19,119
437,159
421, 546
6, 202
5,139
20,177
17,980
450,752
434, 202
5, 921
4, 519
1«,480
15,975
402,008
445, 280
2,907
3,238
137, 441 '124,680
125,851 • 136,034
131,000
102, 045
.34
108, 703
39, 310
.34
103,900
37,067
.34
.36
100, 970 119, 604
36, 236 42,896
.33
129,630
44, 402
.32
178,811
57, 352
.31
193,213
75, 003
61, 234
42,734
9,212
164
471
33, 051
17,191
5,244
FOODSTUFFS AND TOBACCO
BEVERAGES
Fermented malt liquors:
Consumption (tax-paid withdrawals)
thous. of bbl..
6,450 rr 6,671
Production
do
6,301 r 6,793
Stocks, end of month.
do
9,244
8,507
Distilled spirits:
Consumption, total (tax-paid withdrawals)
thous. of proof gal. .
5, 298 '5,814
Whisky
____do—.
4, 121 r ' 4, 559
Production, total
do
21, 733
9, 285
Whisky.
do...
7, 522 r 19,941
Stocks, total, end of monthdo
405. 871 326, 300
Whisky
__do_ — 447, 983 315,866
Rectified spirits:
Consumption (tax-paid withdrawals)
thous. of proof gal..
1,891
2,159
5,938
5,771
8,122
4,985
5,183
8,082
4,249
4,097
7,722
3,640
3,399
7,319
3,831
3,665
6, 945
3,056
3,657
7,407
5,200
6,931
4,279
5,952
19, 763 23,698
17, 824 19,063
339,820 352,151
328, 808 341, 264
9,724
8,202
27, 625
20, 299
364, 023
352, 639
11,567
9,643
22, 973
18, 868
373, 330
361,318
10, 609
8,907
25,188
22, 289
387, 322
374, 629
5,314
4,528
21,109
19,174
402.099
388, 416
4,074
4,858
5,044
2,123
1,936
2,783
2,497
DAIRY PRODUCTS
Butter:
Consumption, apparent
thous. of l b . .
126,410 131,579 135, 667 139, 245 131, 760
Price, wholesale (N. Y.), (92-score)
.32
dol. per lb._
.34
.36
.35
.33
.34
Production creamery (factory)-thous. of lb.._ 170,669 155,606 139,363 131,862 135,140 113,985
Receipts, 5 markets
do
61, 636
44, 792 44,637
54,676
47,202
39, 587
Stocks, cold storage, creamery, end of month
thous. of lb__ 124, 030 103, 259 112,106 108,835 105, 368
88, 866
Cheese:
r
Consumption, apparent
_do
53,897 53,331
57, 296
59,392
56,953
Imports
_do ._
6,452
5,403
3,490
5,796
5,675
5,881
Price, No. 1 Amer. (N. Y.)
dol. p e r l b . .
.21
.20
.20
.19
.18
.18
Production (factory)
thous. of lb._
63,922
57,693
55,389
57,
738
46,
786
American whole milk
do
50,033 r 50,129
44, 451 43,3,07 44,965
33,150
Receipts, 5 markets
..do
17, 220
18,479
15,981
13,386
12, 524
12, 098
118,302
97,403 107, 542 114,990 118,907 114,706
Stocks, cold storage, end of mo
.do
80, 735
American whole milk
do
90, 471 98,206 102,847
100, 520
98,975
r
Revised.
t Revised series. Manufactured and natural gas revised for period 1929-36. For revisions see tables
on production of electric power, see p. 41 of the May 1937 issue.
53, 092
6,229
.18
42, 629
29,610
11,311
110, 400
95, 418
' 54,839
5,022
.18
41.599
27, 425
11,548
102,112
88,091
6,700
6,406
22, 904
r 83,116
r 53,205 r 61, 682
4,697
6,347
.18
.18
39, 622 47, 553
27,174 32, 780
11,545
U , 790
93,114 85, 216
80,713 732,822
r 61, 849
5,365
.17
54, 448
38, 297
11,939
83,096
70, 584
08,471
3,958
.17
60,921
4,808
.17
51,138
11, 401
85, 008
71, 003
04, 707
17,090
• 105,318
r 89,191
20, 678
20 and 21, pp. 19 and 20 of the May 1937 issue. For 1936 revisions
42
SURVEY OF CURRENT BUSINESS
Monthly statistics through December 1935, together with explanatory notes and references
to the sources of the data may be found in the
1936 Supplement to the Survey
1936
1937
July
September 1937
July
1937
August SeptemOctober
ber
Decem- January
ber
No v e m
b e r -
February
March
April
May
June
FOODSTUFFS AND TOBACCO—Continued
1
DAIRY PRODUCTS—Continued
Condensed and evaporated milk:
Production:
Condensed (sweetened):
Bulk goods
thous. of lb.
Case goods
do—
Evaporated (unsweetened)
do...
Exports:
Condensed (sweetened)
_.do.._
Evaporated (unsweetened)
do
Prices, wholesale (N. Y.) (case goods):
Condensed (sweetened)
dol. per case.
Evaporated (unsweetened)
do...
Stocks, manufacturers, end of month:
Condensed (sweetened):
Bulk goods
thous. of l b .
Case goods
do._.
Evaporated (unsweetened), case goods
thous. of lb.
Fluid milk:
Consumption in oleomargarine
do...
Production (Minneapolis and St. Paul)
thous. of lb.
Receipts:
Boston (incl. cream)
thous. of q t .
Greater New York
do...
Powdered milk:
Exports
thous. oflb.
Productionf
-do._.
Stocks, mfrs., end of mo
do...
FRUITS AND VEGETABLES
16, 308 25, 058
4,281
4,496
202, 367 211, 299
17, 881
4,567
185, 780
14,925
3,380
188. 840
11,326
3,538
127,881
12. 586
4,198
113,502
17, 414
4,827
116, 230
16,535
4,027
123,441
14,963
3,739
156,762
17,824
3,664
178, 244
26, 556
4,972
247, 838
25,107
4,481
242, 981
174
261
2,010
226
1,968
124
2,019
457
1,946
1,331
1,595
701
1,819
60
2,118
204
2,904
93
1,633
128
1,828
4.85
3.20
4.85
3.28
4.85
3.40
4.85
3.40
4.85
3.40
4.85
3.40
4.85
3.30
4.85
3.30
4.85
3.19
4.85
3.15
4.85
3.15
4.85
3.15
4.85
3.15
14, 850
11,173
13, 654
11,188
12, 250
11,116
12, 363
12,109
11,233
7,787
10,190
5,670
9,071
5,685
7,124
5,353
4,958
5,594
4,203
6,003
4,400
11, 399
8,669
15,550
10, 920
102,021
160, 709
278,511
258,904
208,911
161, 20S 242, 390
302, 435
5,847
6,357
6,351
7,189
5,772
5,385
6,774
6,359
5,244
5,102
25, 447
28,609
31, 743
31,000
36.443
35,352
42, 597
43,134
227, 696
4,743
5,258
34, 421
32,183
301
28, 826
42, 867
Production (crop estimate)
thous. of bu.. 194,328
1,657
Shipments, car-lotf
no. of carloads..
Stocks, cold storage, end of month
thous. of bbl._
6,777
Citrus fruits, car-lot shipmentst-no. of carloads.
1,570
Onions, car-lot shipmentst
do
Potatoes, white:
1.163
Price, wholesale (N. Y.)
dol. per 100 lb..
Production (crop estimate)
thous. of bu_. '402, 537
Shipments, car-lott
no. of carloads.. 16, 027
GRAIN AND PRODUCTS
26, 245
11,689
251,751
6,732
176, 912 152, 575
18,142
117,126
17,781
115,060
16,149
113, 031
27, 235
17,066
114,971
17,141
111,544
16, 016
113,935
16,128
115,606
14,553
106,972
16,054
119,816
15,631
118,158
17,150
128,088
129, 016
383
27, 242
29, 264
312
23,906
24,809
291
21,872
26,835
327
24,945
30,612
322
20,679
33,270
216
23,417
35,171
216
23,150
282
19,933
39,906
326
24, 633
38,881
402
' 27,846
' 37,180
272
36,145
43,129
248
34, 304
48, 328
1,066 I
7,775
15,923
7,495
_ 417,506
5,169
4,726
4,492
3,647
2,994
1,640
6,613
1,517
2, 480
7,458
3,418
8,482
9,010
3,667
8,829
14,717
2,096
7,452
16,452
1,933
5,787
18, 261
2,540
4,064
15,449
2,869
2,453
18, 412
1,176
13, 577
2,720
4P,0
12, 600
3, 961
1,397
9,632
1,037
8,884
2,445
1,581
2.456
1.863
"14^553"
'127418"
Exports, principal grains, including flour and
2,087
4,079
meal
thous. of bu._
Barley:
533
285
Exports, including m a l t —
do
Price, wholesale, No. 2 (Mpls.):
.87
Straight
dol. per bu._
.92
Malting
do....
Production (crop estimate)
thous. of bu._ '227,398
~5,"992"
1,151
Receipts, principal markets
..do
Stocks, commercial, domestic, end of mo.
9,850
5, 227
thous. of bu._
Corn:
106
Exports, including meal
do
6,502
3, 433
Grindings
do
.94
1.25
Prices, wholesale:
No. 3, yellow (Kansas City).dol. per bu._
1.01
1.23
No. 3, white (Chicago)
do
'2,658,748
Production (crop estimate)
thous. of bu_. 10, 682
17, 614
Receipts, principal markets
do
11, 926
4, 701
Shipments, principal markets
do
Stocks, commercial, domestic, end of mo.
4,316
7,425
thous. of bu._
59
101
Oats:
Exports, including oatmeal
..do—
.37
.39
Price, wholesale, No. 3, white (Chicago)
dol. per bu_. «1,130,628
16, 863
7,612
Production (crop estimate)
thous. of bu._
Receipts, principal markets
do
38, 864
3,359
Stocks, commercial, domestic, end of mo.
thous. of bu._
160,895
890
Rice:
62, 339
Exports
pockets (1001b.).. 177,972
Imports
do
.037
.043
Price, wholesale, head, clean (New Orleans)
dol. per lb-. • 50, 508
Production (crop estimate)
thous. of bu_.
Southern States (La., Tex., Ark., and
Tenn.):
Receipts, rough, at mills
100
20
thous. of bbl. (1621b.)..
Shipments from mills, milled rice
287
thous. of pockets (100 lb.)_Stocks, domestic, rough and cleaned (in
terms of cleaned rice) end of month
342
thous. of pockets (100 lb.)..
California:
120, 853
Receipts, domestic rough...bags (100 lb.)_.
152,324
Shipments from mills, milled rice...do
Stocks, rough and cleaned, end of mo.
120, 524
bags (1001b.)..
• No quotation.
* Revised.
»Dec. 1 estimate.
• August 1 estimate.
t Revised series. For revision of production of powdered milk
May 1937 issue.
14, 280
4,994
183, 428
1.795
"16"846"
2.006
"227630"
2.050
"147476"
b
2.505
329,997
14,942
2.744
2.881
2.094
1.708
2.031
"157603
2l7929
29,563
2,274
'2,499
r
2.240
"17," 122 " 17,161'
~20,~57l"
3,442
4,844
3,036
1,573
1,806
1,690
1,781
1,614
1,006
461
198
19
8
144
1.22
1.24
1.30
1.28
1.29
1.32
1.27
1.28
1.32
1.33
1.32
1.37
16,583
"~9," 683"
"9," 584"
"5,625
1.29
1.32
>147,452
4,741
15,343
17,732
20,012
20,541
18, 848
6,778
64
5,615
21
5,525
41
5,786
1.15
1.24
1.12
1.27
1.12
1.10
1.14
1.07
15, 569
7,711
9,213
4,375
8,797
4,058
17,559
5,268
18,200
5,855
4,537
4,325
4,277
8,185
75
65
82
.44
.44
.42
1.19 i
513 I
1.17
C)
2, 494
93
305
1.14
.81
.91
1.28
2,168
"27713'
14, 990
13, 703
12,154
8,448
42
5,641
1.19
1.14
37
5,957
47
20
1.20
1.13
1.23
1.22
1.37
1. 35
13,162
5,652
9,567
4,692
9,304
5,428
8,082
13,454
15,080
13,901
12,381
65
64
73
75
.50
b
789,100
3,753
2,517
.54
.51
.51
4,120
3,448
3,581
.54
4,578
4,836
2,812
31,066
25,807
20, 225
11, 785
5,648
2,338
54,199 103,852
181, 638 207, 204
130,507
123,495
33, 610
163, 562
31, 896
179, 868
21, 440
192,394
85,343
181, 620
1.15
1.09
»1,529,327
.46
"47667"
3,569
51,861
50,973
48, 639
42, 571
6,124
104,099
1,325
121, 670
17, 534
120,830
52,121
79,586
.039
.042
574 I
"3,"l79' ""§7299'
" 15," 205"
.043
2,261 i
37,392
k
1,132
" "2,"044
4,711
5,873
r
T
.040
4,778
6,697
61
.040
30
r 6, 701
1.35
1.35
35
' 5, 882
' 1.25
1.18
9,650
3,745
11,512
4,710
4,316
5,380
82
79
.52
.48
.040
.038
.038
46,833
.038
736
1,799
973
309
241
240
149
1,327
1,109
765
569
549
502
304
1,375
2,289
1,761
331
754
1,213
1,110
321
962
2,116
2,839
2,654
3,178
3,139
2,721
2,393
2,092
1,741
184 418
71 676
259, 027
134, 336
513,655
77,742
379,028
34,985
90,451
47,150
416,756
98, 382
317, 467
265,629
431, 945
250, 402
99, 216
67, 471
70, 242
52, 737
213, 590
74, 202
147,979
151, 619
378,038
676,647
190,290
714, 982
579,552
523. 512 I 513, 927
463,584 ! 482,536
.
for 1935 see p. 90 of the 1936 Supplement. Data for 1936 on car-lot shipments revised, bee p. 42 of tne
43
SURVEY OF CURRENT BUSINESS
September 1937
Monthly statistics through December 1935, together with explanatory notes and references
to the sources of the data may be found in the
1936 Supplement to the Survey
July
1937
1936
1937
July
Decem- January
August Septan, October November
ber
March
April
May
June
FOODSTUFFS AND TOBACCO—Continued
GRAIN AND PRODUCTS— Continued
Rye:
0
Exports, including
flour
thous. of bu._
0
293
.75
Price, wholesale, No. 2 (Mpls.).dol. per b u . .
.83
.85
Production (crop estimate)
thous. of bu_. • 51,869
Receipts, principal markets
do
1,630
1,073
1,540
Stocks, commercial, domestic, end of mo.
8.080
6,674
1,187
Wheat:
thous. of bu.Exports:
1,389
Wheat, including
flour
do
1,657
3,385
26
222
Wheat only
do
2, 145
Prices, wholesale:
No. 1, dark, northern, spring
1.36
Minneapolis
_.dol. per bu_.
1.47
1.51
1.06
1.17
No. 2, red, winter (St. Louis)_
.do
1.22
1.11
1.22
No. 2, hard, winter (K. C.)
do
1.22
1.10
1.27
Weighted av., 6 markets, all grades._do
1.19
Production (crop est.), total...tbous. of b u . . 8890, 419
Spring wheat
do
'202, 274
B
Winter wheat
do
688,145
84,222
29,495
Receipts, principal markets
do.._. 111,913
27,210
18,214
Shipments, principal markets
do
27, 726
Stocks, end of month, world estimated
275.131 293,970
thous. of bu_.
r
96,195 100, 704
Canada (Canadian wheat)..
do
26, 267
81,048
67, 305
United States (domestic wheat)
do
89,334
Held by mills (end of quarter)
Wheat
flour:
thous. of b u . .
Consumption (computed by Russell's)
10,064
11,250
thous. of bbl_.
290
305
264
Exports
do
43,
660
42,087
Grindings of wheat
thous. of b u . . 28, 872
Prices, wholesale:
6.78
7.21
7.44
Standard Patents (Mpls.).__dol. per bbL.
5.23
5.64
5.76
Winter, straights (K. C.)
do
Production:
9,416
9,148
8,415
Flour, actual (Census)
thous. of bbl_.
10, 244
11, 652
Flour, prorated, total (Russell's)
do
Offal (Census)..
- t h o u s . of l b ~ '701," 642 793,510 758,322
58
56
52
Operations, percent of capacity (Census)
Stocks, total, end of month (computed by
5,500
5,600
Russell's)..thous. of bbl_.
Held bv mills (end of quarter)
do
LIVESTOCK
Cattle and caives:
1,881
2,216
Receipts
thous. of animals..
1,675
Disposition:
1,322
Local slaughter
do
'1,180
1,013
697
848
Shipments, total...
do
660
240
Stocker and feeder
_.do
319
224
Price, wholesale, cattle, cornfed (Chicago)
8.70
9.00
dol. per 1001b15.08
Hogs:
1,915
1,747
Receipts
.thous. of animals..
1,157
Disposition:
1,347
1,166
Local slaughter.
do
790
572
Shipments, total
do
366
562
Stocker and feeder
do
91
32
Price, wholesale, heavy (Chicago)
57
10.82
dol. per 100 lb~
12.11
8heep and lambs:
10.11
2,287
Receipts.
..thous. of animals..
1,908
Disposition:
2,022
1,011
Local slaughter.
do
900
Shipments, total
do
1,006
1,012
1,271
Stocker and feeder
do
177
1,014
343
Prices, wholesale (Chicago):
152
Ewes
dol. per 100 l b . .
3.31
4.38
Lambs..
_
do
10.47
8.86
M E A T S
Total meats:
Consumption, apparent
mills, of lb_.
1,040
1,001
Production (inspected slaughter)
do
1.066
997
665
Stocks, cold storage, end of month
do
671
738
Miscellaneous meats
do
73
58
Beef and veal:
523. 522 528,398
1,064
Consumption, apparent
thous. of lb_.
1,302
1,790
Exports
do
Price, wholesale, beef, fresh, native steers
.138
.143
(Chicago)
--.dol. per lb_.
.228
Production (inspected slaughter)
518, 400 542,249
thous. of lb..
42,91.4
64,255
Stocks, cold storage, end of mo
do
"51,"856
Lamb and mutton:
49,448
60,8.15
Consumption, apparent
do
49,833
52,001
Production (inspected slaughter)
do
2,634
1,478
Stocks, cold storage, end of month ..do
Pork (including lard):
467,498
422,125
Consumption, apparent
do
16,811
12,224
Exports, total
do
13, 221
7,481
6,045
Lard
do
7,746
Prices, wholesale:
.252
. 256
Hams, smoked (Chicago)
dol. perlb..
.242
Lard, in tierces:
.110
.122
Prime, contract (N. Y.)
do....
.126
.119
Refined (Chicago)
do._.
.138
.129
Production (inspected slaughter), total
thous. of l b .
497,956 403,198
Lard
do
41,701
82,952 64,362
Stocks, cold storage, end of month..do
626,280 558,987 531, 409
441,961 420, 848
Fresh and cured
do
Lard
do
157, 382 117,026 110,561
b
Dec* 1 estimate.
s
No quotation.
1
.92
1,658
1,375
1
1.10
«> 25, 554
1,084
1,735
715
334
737
794
1,878
495
6,515
6.209
5,983
5,008
4,476
3,980
3,215
2,550
2,034
1,442
2,416
487
2,436
1,288
21
1,681
50
1,576
1,522
38
1,565
61
1,679
137
1.46
1.19
1.22
1.25
1.48
1.21
1.22
1.29
1.44
1.23
1.22
1.28
1.59
1.35
1.34
1.39
*626,461
&107,448
1.66
1.40
1.38
1.44
1.59
1.43
1.37
1.39
1.53
1.43
1.39
1.42
1.56
1.44
1.40
1.41
1.46
1.32
1.32
1.32
1.45
1.22
1.21
1.23
10,621
10,658
15,237
13,978
10,712
10,945
>519,013
10,389
11,601
7,766
8,676
6,116
7,592
7,512
8,941
8,928
7, 621
10, 029
19,391
11, 175
315, 760 305, 590 292,870
126,378 117, 412 93,924
82,849 76,423
70,314
312,480
82, 625
63,453
336, 500
74, 737
52, 251
316,770
68,010
43,709
288,220
65,700
36,850
234, 720
50, 683
26, 253
184,150
45, 643
17, 088
157,780
36,314
11,677
153,521
135,189
7,912
358
37,832
8.114
328
37, 586
7,924
316
34,630
320
38,605
328
38,468
7.26
5.94
7.54
6.16
7.45
6.08
7.44
6.15
7.26
6.02
6.98
5.95
8,216
8,019
8,333
8,829
666, 240 687, 727
51
53
8,180
8,246
681,276
53
7,536
8,038
628,005
53
8,402
8,274
697,451
50
8,340
8,808
704, 618
52
642, 595
49
5,900
5,700
5,500
4,074
0
.87
8,198
410
40,055
6.96
5.67
0
.85
9,631
8,510
321
269
41,770 136,844
7.06
5.57
9,120
8,708
9,831
9,182
723, 978 749,121
54
56
6.84
5.49
0
1.13
0
1.11
1
1.09
1
1.12
59
.99
186
1.09
r
2,108
395
82,134
r
2, 217
770
67,874
364
34,892
7,542
35, 548
6.91
5. 69
7,637
656, 834
47
6,500
4.677
6,000
2,264
2,439
2,176
1,811
1,691
1,342
1,727
1,634
1,751
1,902
1,339
928
380
1,368
1,060
1,246
893
449
1,145
695
277
1,107
560
184
916
419
121
1,143
564
184
1,058
569
192
1,067
663
239 |
1,184
703
217
13. 43
9.52
1,939
1,263
673
94
10.25
2,766
1,126
1.597
480
3.36
8.91
516
6,050
3,773
11. OS
12.05
12.91
13.24
14.06
14.30
13.00
3,149
3,145
2,500
2,084
2,224
2,036
1,526 I
1,513
1,782
830
2,234
900
41
2,216
934
40
1,785
712
29
1,443
638
28
1,595
619
42
1,448
589
36
1,074
444
1,075
432
62
9.67
10.25
10.38
10.18
10.26
10.11
10.00
2,149
1,761
2,063
1,591
1,576
1,882
2,871
1,071
1,083
367
3.67
8.40
1,082
692
110
1,200
852
115
933
661
78
960
620
60
1,052
830
92
3.83
8.47
5.52
9.94
5.77
10.06
6.59
11.49
6.25
12.13
1,059
1,242
828
95
1,047
1,337
1,149
132
1,008
1,109
1,245
132
903
1,282
126
1,040
1,006
1,240
117
957
1,181
941
813
1,030
83
1,004
880
••898
69
483,312
401,174
1,071
484, 616
1,497
484,041
1,528
444,908
1,008
491,360
.183
.192
.200
.200
9.91
2,613
1,075
1,029
625
75
1,191
1,723
721
3.49
8.50
1,195
1, 210
638
77
558,678
1,483
580,904
1,536
466,194
1,021
482,171
.145
.150
.163
.168
571,787
82;806
595,095
104,961
60,116
60,894
3,374
65,068
67, 654
5,930
32
29
11.01
11.46
2,209
1,879
1,022
852
133
1,121
1,088
136
6.05
11. 55
4.25
11.47
828
.208
510, 943 521, 965
152, 769 193, 760
469, 582
180,916
384,817
167,438
453, 740
142, 691
443, 712
111, 653
412,061
86,168 |
62,692
64, 553
10, 228
69,300
69, 570
10,491
54,864
54,162
9,807
56,406
53,833
7,174
56, 688
54,151
4,574
55, 749
54,154
2,950
456, 719
' 63, 522
55, 072
54, 324
r 2, 171
455,960 549,324 534,078 502, 456
12,083
14, 784 16, 484 13, 618
7, 856 10, 454
9,384
9,563
455,098
12,377
8,804
404,334
9,161
4,456
499,039
12, 487
7,324
457, 437
13, 737
8,245
439,933
20, 055
13, 565
457,317
13,377
8,288
58,904
61,443
8,450
.246
.225
.223
.226
.225
.227
.209
.214
.215
.229
.118
.126
.117
.125
.119
.126
.135
.139
.139
.144
.126
.131
.127
.132
.119
.128
.121
.130
.123
.133
396,371 546,907
59,627 80, 568
463,404 449, 698
361, 608 354,950
101, 796 94, 748
669,115
103,020
572,165
463, 400
108, 765
750,815 570,173
118,420
90, 443
812, 700 921,231
666,891 738, 522
145,809 •182,709
464,299
72,324
978,164
775,688
202,476
498. 794
76,584
973,004
755,777
217, 227
458, 734
68,328
965, 798
756, 354
209, 444
346,417
50, 732
858,134
663, 657
194, 477
368, 508
r 52, 410
' 763,548
' 578,424
r 185,124
1
August 1 estimate.
r
Revised.
44
SURVEY OF CURRENT BUSINESS
Monthly statistics through December 1935, together with explanatory notes and references
to the sources of the data may be found in the
1936 Supplement to the Survey
1937
July
September 1937
1936
July
1937
DecemAugust SeptemOctober November
ber
ber
January
February
March
April
May
June
FOODSTUFFS AND TOBACCO—Continued
POULTRY AND EGGS
Eggs:
Receipts, 5 markets
...tbous. of cases..
Stocks, cold storage, end of month:
8,714
Case
thous. of cases...
Frozen
.
thous. of lb.. 167,111
Poultry:
Receipts, 5 markets
d o — 20,810
70,125
Stocks, cold storage, end of mo
do
TROPICAL PRODUCTS
Cocoa:
Imports
long tons..
Price, spot, Accra (N. Y.)
dol. per lb_.
Exports from the Gold Coast and Nigeria,
Africa
long tons-.
Coffee:
Clearances from Brazil, total.thous. of bags.
To United States
do
Imports into United States
do
Price, wholesale, Rio No. 7 (N. Y.)
dol. per lb_.
Receipts at ports, Brazil
thous. of bags,.
Stocks, world total, incl. interior of Brazil,
end of month
thous. of bags,.
Visible supply, total, excl. interior of Brazil
thous. of bags. .
United States
do—
Sugar:
Raw sugar:
Cuba:
Stocks, total, end of month
thous. of long tons.
United States:
Meltings, 8 ports
long tons..
Price, wholesale, 96° centrifugal (New
York)
dol. per lb_.
Receipts:
From Hawaii and Puerto Rico
long tons..
Imports
do—
Stocks at refineries, end of month..do
Refined sugar (United States):
Exports, including maple
long tons..
Price, retail, gran. (N. Y.)
dol. per lb..
Price, wholesale, gran. (N. Y.)
do....
Receipts:
From Hawaii & Puerto Rico. Jong tons.
Imports:
From Cuba.
_
do—
From Philippine Islands
do
Shipments, 2 ports 1 . . .
do
Stocks, end of month, 2 ports 1
do—
Tea:
Imports
thous. of lb_.
Price, wholesale, Formosa, fine (N. Y.)
dol. perlb..
Stocks in the United Kingdomt-thous. of lb_.
18, 130
. 0790
1,247
981
782
7,335
115,485
7,006
108, 614
5,817
96, 660
22, 683
49, 220
26, 400
65,488
27, 580 34, 434 77, 297 72, 999 23,122
82,096 104, 981 149,391 187, 887 178,304
15.570
.0641
18,129
.0667
22, 816
.0750
3, 788
82, 029
23,012
. 0843
482
687
1,076
924
1,645
1,755
66, 309
651
51, 837
469
39,104
322
34, 390
1,413
53, 074
22, 564
.0954
40, 268
.1134
.1221
17,318
19, 993
157, 858 120, 328
26, 500
. 1032
34, 337
2, 009
2,134
4, 405 7,300
88, 186 133,132
1,701
r
8,548
• 164, 830
18. 560
94, 888
20, 260
82, 340
21,927
' 77,173
33, 181
.0990
17, 557
.0740
43, 036
22, 165
.0782
27, 364
10, 203
979
501
1,138
935
456
925
937
499
1,032
.091
1,183
.093
886
.094
915
8,287
1,079
8,067
1,035
7, 886
1,133
.1143
8,214
20, 795
20,158
17, 241
28, 074
38, 263
54, 571
47, 744
57, 266
756
376
865
1.097
568
901
1,174
669
904
1,090
603
970
1,192
642
920
1,230
684
1,447
889
1,454
948
523
1,563
.094
794
.078
1,115
.082
1,016
.081
1,238
.081
1,124
.085
1,293
1,459
1,289
687
1,370
.089
1,437
.093
1,166
1,233
654
1, 365
.093
1, C96
34,249
7,621
1,107
8,030
903
7,884
889
7, 754
953
7,905
862
7,815
690
7,822
768
7,954
851
7,993
969
8,016
975
1,375
1,209
1,009
844
741
376
489
1,336
2,221
2,187
1,929
1,707
230, 650 313,517
510,489
554,121
425,137
317, 787
.035
.035
.034
.034
49, 211
(0
428, 291
.035
109, 937
293,422
308,116
31,421
371, 268 307, 639 277, 352 260, 661 230, 213 215,168
.037
.037
.036
146, 418 111, 968 128,439
268, 453 103, 264 217,897
450,122 390, 794 323,843
3,907
"" .046
(0
.055
.047
5,971
.055
.047
.034
.036
.038
.039
76, 682 45,159
50,015
70,839
82, 527 102, 207 95,833 189,647
273,200 215,500 123, 283 160,119
5,647
.054
.047
7,198
.054
.046
5,185
.052
.046
.053
.047
4,567
.054
.049
331
11,016
2,189
3,872
1,116
11,516
5,763
30, 251
5,668
17,615
2,108
21, 539
2,393
12, 735
1,121
8,104
91
19, 542
2,866
10,834
7,044
5,996
6,312
9,036
9,727
5,710
8,158
7,544
.275
.275
.275
.275
220, 958 227, 395 236, 037 234,464
.275
225,444
.275
.275
.275
206, 567 217,461
6,117
.036
(0
117, 279 180, 985 232, 622 234,875
153, 554
222, 734 386,962 412.827 326, 885 219,935
220,147 168, 499 141,418 242, 055 " 293,175
6,664
5,680
6,137
4,034
7,736
.055
.056
.055
.055
.056
.047
.047
.049
.047
.046
19,187
16,110
18, 716
16,130
16, 583 r 91,144 ' 42,398
4,623 48, 208
2,966
47, 814
13, 383
31, 755
7,905
6,693
7,373
15, 775
9,370
9,567
.275
.275
205, 569 189,496
6,787
.275
.275
174, 343 148,013
.275
144,613
r
MISCELLANEOUS FOOD PRODUCTS
Candy, sales by manufacturers.-thous. of dol..
Fish:
Landings, fresh fish, prin. ports.thous. of lb__
Salmon, canned, shipments
cases..
Stocks, total, cold storage, 15th of month
thous. of lb_.
Gelatin, edible:*
Monthly report for 7 companies:
Production
thous. of lb..
Shipments
do—
Stocks
do
Quarterly report for 11 companies:
Production
thous. of lb_.
Stocks
do
Leaf:
12,064
40, 727
17, 603
30,033
25,068
31,163
30, 328
30, 567
20,819
21,814
44, 345 45, 390 42.821
45,092
565, 701 1,195,502 1,747,920 596.139
41,129
66,100
24, 256 27,153 34, 964 35, 596 '39,535
32,792
45, 597 352, 432 ,198,620 860, 551 313, 110 305,394
41. 039
302,442
59,385
62, 551
76.076
84, 698
!6.145
92,702
1,054
1,254
5,490
980
1,228
6,080
477
1,163
5,393
1,114
5,042
1,078
1, 280
4,840
1,417
982
5,275
3,701
7,317
1,297
1,175
5,397
24, 468
26,260
22,940
87, 503
69. 629
51, 588
42, 957
40, 589
8,178
1,386
1,183
5, 599
1,445
1,355
5,689
1,551
1,797
5,442
1,599
1,342
5, 699
1,436
1,377
5,759
1,392
1,461
5,690
5,368
7,958
6,311
8, 200
6,127
8,421
TOBACCO
Exports
.thous. of lb_. 15,990
20, 887 26,946
Imports, unmnfrd., incl. scrap
do
5,793
5,977
7, 367
Production (crop estimate)
do._. 1,417.015
Stocks, total, incl. imported types, end of
quarter
thous. of lb_Flue-cured, fire-cured, and air-cured-do
Cigar types
__do
Manufactured products:
Consumption (tax-paid withdrawals):
13,430
Small cigarettesmillions.. 15,290
14,801
Large cigars
thousands.. 476, 489 482,448 445,976
Manufactured tobacco and snuff
thous. of lb-. 29,519
31, 326 26, 756
Exports, cigarettes
thousands.. 405, 768 380,153 452,731
Prices, wholesale:
5, 513
5.380
Cigarettes.._
dol. per 1,000..
5.380
Cigars
—
do.... 46, 056 45.996
45. 996
48,167
6,231
41, 463
4,162
'1,153,083
35, 921
5,877
24,052
6,057
29,146
7,373
24,034
7,907
14, 342 13,204
13, 246 13, 436 12, 328 12, 792 12, 210 13, 070
11,557
489,293 551,114 489,180 371,231 356,996 362,935 466, 831 453, 008 430, 628
30,096
26, 302 25, 759 26,444
31, 084
32, 046 26,611
30, 028 27, 557
371,146 297, 358 361,836 513, 538 463,017 499,483 488, 721 481,754 510,511
5.380
5. 380
5.435
5, 513
5.380
5. 513
5. 513 5.513
5.380
45. 996 45. 996 45. 996 45. 996 45. 996 45.996
46.020
46. 056 46,056
14,259
472, 404
2,146,600
,729,515
342,766
66, 238
6,129
49, 453
4,697
2,209,842
1.831,451
313,607
26, 732
5,711
24, 001
7,908
2,276,038
1,812,288
375,306
28, 730
477,167
5,513
46,056
h
e
'Revised.
Dec. 1 estimate.
» Not available.
August 1 estimate.
*The quarterly report is complete for the industry; the new monthly data are for 7 companies, for data for the latter series for period 1930-36, see table 8, p 20, of the February 1937 issue.
t Revised series. Series on stocks of tea in United Kingdom revised for 1913-36. See table 32, p. 20 of the August 1937 issue.
i Discontinued by reporting source.
Monthly statistics through December 1935, together with explanatory notes and references
to the sources of the data may be found in
the 1936 Supplement to the Survey
45
SUEVEY OF CURRENT BUSINESS
September 1937
July
1937
1936
1937
July
Decem- January FebruOctober NovemAugust Septemary
ber
ber
ber
March
April
May
June
FUELS AND BYPRODUCTS
Anthracite:
COAL
Exports..
__
.thous. of long tons..
Prices, composite, chestnut:
Retail*
dol. per short ton_.
Wholesale
do
Production!
.-thous. of short tons.Shipments
do
Stocks, end of month:
In producers' storage yards
do
In selected retail dealers' yards
number of days' supply. Bituminous:
Industrial consumption, total
thous. of short tons..
Beehive coke ovens
do
Byproduct coke ovens
do
Cement mills
do
Coal-gas retorts
_
.do
Electric power utilities
do
"Railways (class I)._
do
Steel and rolling mills
do
Other industrial
__do
Other consumption:
Vessels (bunker)
thous. of long tons..
Coal mine fuel
thous. of short tons.Exports
thous. of long tons_
Prices:
Retail, composite, 38 cities
dol. per short ton..
Wholesale:
Mine run, composite
do...
Prepared sizes, composite
do
Production!
thous. of short tons.
Stocks, industrial and retail dealers, end of
month, total
thous. of short tons
Industrial, total
do...
Byproduct coke ovens
do
Cement mills
_
__do
Coal-gas retorts...
_
do
Electric power utilities
do...
Railways (class I)_
do
Steel and rolling mills
do
Other industrial
do
Retail dealers, total
do
4,608
3,942
9.914
4,334
3,783
' 2, 473
2,515
' 2, 259
51
55
38
37
26
26,080
262
5,499
534
153
3,670
6,783
1,059
8,120
28, 978
379
5,844
553
152
3, 735
7,547
1,168
29, 550
384
5,811
486
152
3,506
7,665
1,196
10, 350
31,995
417
6,242
418
157
3,759
8,229
1,283
11,490
31,409
435
6,262
327
157
3,586
8,140
1,222
11,280
30,146
468
5,738
302
144
3,213
7 722
l] 219
11, 340
33, 293
568
6,453
422
152
3,590
8.404
1,374
12, 330
30, 452
490
6,247
450
143
3,294
7,472
1,226
11,130
29, 377
520
6,434
494
140
3,286
7,220
1, 153
10, 130
' 27, 367
439
5, 788
476
'124
' 3, 505
' 6. 653
-982
9, 400
134
329
954
164
383
1,201
151
368
1,222
132
371
494
128
341
344
106
351
392
113
427
474
142
217
871
163
250
1, 320
162
'264
1,388
8.31
8.53
8.57
8.39
4. 228
4.551
41, 879
4.233
4. 548
45, 756
4.218
4.497
40,940
4.236
4.510
42,110
4. 235
4.490
51, 315
4.306
4.436
• 30, 010
4.318
4. 422
' 31, 726
43, 499
35, 026
8,535
263
295
7,162
6,847
1,264
10, 660
8,473
0)
46,785
38,574
8,687
357
267
7,922
8,589
1,602
11,150
8,000
0)
(0
()
35,390
8,031
307
274
7,570
7,354
1,374
10,480
45,153
9,638
546
278
8,717
11,056
1,898
13,020
39,721
8, 544
464
255
8. 504
8, 206
1,748
12,000
' 43, 936
' 37, 736
7,770
429
-•249
'8.457
' 7, 701
' 1, 540
11,590
6, 200
44
27
26
24
3.938
4.000
4.000
4.131
272
4,358
102
1,533
464
1,069
384
292
3,991
92
1,307
446
861
380
355
4,495
107
1,254
467
787
403
"5"199"
2,661
2,422
9.564
3,503
2,917
T857"
1,895
1,556
1,992
2,347
77
62
25, 427
205
5,548
550
149
3,662
6,546
1,037
7,730
27, 795
450
6, 281
479
120
3, 843
6. 760
1,042
8,820
24, 950
177
5,332
507
148
3,564
6,501
1,011
7,710
166
263
1,462
124
283
1,035
134
294 |
1,174
8.13
172
129
11.81
9.905
4,947
4,317
120
11.62
9.721
3,874
3,440
122
263
126
91
11.20
9.452
3,925
3,345
103
139
4.316
4.445
31,912
4.227
4.346
32, 005
4.217
4.428
33, 086
4.229
4.498
37,192
4.224
4. 557
43, 321
43, 380
37, 000
7. 433
'387
242
8,523
7, 197
1, 488
11,730
6, 380
30,126
23. 726
5, 302
236
275
5,473
4, 254
916
7,270
6,400
32, 071
25,171
5,982
257
267
5,744
4,304
947
7 670
6,900
34, 604
27, 264
6,562
241
283
5,961
4,964
973
8,280
7,340
0)
0)
29, 403
7,296
238
288
6,473
4, 865
1,033
9,210
31, 668
8,146
261
301
6,859
5,138
1,103
9,860
0)
0)
67
69
67
66
122
~9."827"
4,025
3,674
107
129
9.824
3,368
3,042
11.82
9.415
4,781
4,235
' 1, 833 ' 1, 299
0)
' 980
T749
6,736
5,981
8. 953
4,207
3,791
'621
'859
49
0)
4.301
4.494
26,010
0)
38, 169
8, 188
397
249
8, 446
7, 391
1,588
11,910
)
136
10.66
8.973
' 4, 475
4,040
' 1, 483
93
COKE
Exports
thous. of long tons.
Price, beehive, Connellsville (furnace)
j
dol. per short ton i
Production:
Beehivef
thous. of short tons
Byproduct!
do
Petroleum coke
do
Stocks, end of month:
Byproduct plants, total
do
At furnace plants
do
At merchant plants
do
Petroleum coke
do
3.550
285
4, 422
2, 009
817
1,192
3.575
3.875
3. 875
60
3.875
••245
' 223
'120
r 154
-•226
' 104
' 3, 723 ' 3, 871 ' 3, 837 ' 4, 077 ' 4, 054 ' 4, 354
121
123
109
117
111
120
1,684
1,886
1,806
1.986
2,034
1,816
487
578
519
670
650
651
1,308
1,197
1,287
1,316
1,383
1,165
408
400
389
409
423
399
38
29
4.481
4.825
4.625
306
4,349
102
325
4,479
110
274
4, 024
100
1, 741
706
1, 035
399
1, 843
776
1, 067
391
1,473
570
903
412
r
PETROLEUM AND PRODUCTS!
Crude petroleum:
99, 323
93,573 100, 452
94,400
Consumption (run to stills)... thous. of bbl._
91, 709 93, 444 90, 872 93, 146 89.142 93, 051 94,179
2,635
2, 635
3, 148
945
2,512
3,001
2,956
2,662
2,199
606
2,591
2,629
Imports
do...
2,871
Price (Kansas-Oklahoma) at wells
1.160
1.125
1.
160
1. 160
1.160
1.040
1.040
1.160
1.160
1.040
1.040
1.040
1.040
dol. per bbL105,812
92. 078 95, 090 90, 972 95, 795 91,018 97, 652 98, 567 93,173 106, 724 104,979 110,911
Production
thous. of bbl..
85
80
80
79
81
83
80
81
80
Refinery operations
pet. of capacity..
79
Stocks, end of month:
California:
65, 481 64,884
63, 768 62, 110 61, 374
61, 685
61, 933
64, 382 64,825
64, 564 64, 745 64,836
Heavy crude and fuel
thous. of bbl..
33,535
33,417 32,969
33, 373
32, 730
33, 901 33, 815 34,189
33, 253
36, 781 35, 476 34,123
Light crude
do
268, 087
262, 013 258, 685 253, 969 250, 724 247,452 246,409 245,168 248,474 256, 506 263,137 266, 865
East of California, total
.do
49,823
39,
901
45,
885
48, 215
45,134
»
39,
008
42,
360
49,
604
51,
691
48,
503
53,
221
50,
469
Refineries
do I
219, 872
208, 792 206,994 203, 500 201. 120 198,949 196, 586 •206, 160 208, 573 214,146 218, 003 220, 980
Tank farms and pipe lines
do
2,
192
2, 178
1,448
1,580
1,366
1,815
1,937
1,708
1,521
1,
545
1,718
1,583
Wells completed
number..
Refined petroleum products:
Gas and fuel oils:
Consumption:
815
' 934
1,774
1,333
1,208
898
1,312
1,264
1, 356
1,374
1,228
1,261
Electric power plants!
thous. of bbl..
4,343
4,335
5,077
4,422
4,720
4.451
4, 522
3,919
4,006
4,058
4,846
4,627
Railways (class I)
do
3,209
3,
395
3,357
2,540
2,829
3,186
I
3,175
2,897
3,248
1.868
2,992
2, 375
2,724
Vessels (bunker)
do
.925
.913
.775
.844
.870
.913
.750
.765
.750
.763
.888
.775
. 750
Price, fuel oil (Oklahoma)...dol. per bbL.
Production:
25, 769
26, 015
22, 222 25, 081
23, 896
25, 670 25,453
23,287
23,154
25, 285 23,671
23,144
Residual fuel oil
thous. of bbl...
11, 158
11,088
13, 319 11, 206 11,005
10, 674
10, 266 11, 201 11,875
10.323
10, 627 10,095
Gas oil and dist, fuels
_do
Stocks, end of month:
Residual fuel oil, east of California
19, 291
17, 473
18, 392 16, 803 16, 325
15, 944
20, 255 18,718
19. 525 20,379
20,182 20,536
thous. of bbl..
18,211
16, 724
22, 719 19,088
24,814
20, 657
18, 451
16,889
Gas oil and dist. fuels
_
do
27, 645 27, 871 27. 659 26,414
Gasoline:
48, 580
45, 484
32,000 40, 561
43, 409
46, 638 46, 081 44. 346 44, 253 39, 919 39, 393 33,696
Consumption, domestic
thous. of bbL.
2, 623
2,101
2,322
2,771
2,542
1,902
2, 505
2,356
2,029
2,216
2,212
Exports
do
2, 167
1, 768
Price, wholesale:
Drums, delivered (New York)
.130
.130
. 155
.142
. 150
.150
.150
.130
.150
.150
(
)
dol. per gal()
.057
.057
.060
.060
.059
.057
.058
.058
.060
. 055
.056
.061
Refinery (Oklahoma)
do
. 061
.146
.145
.141
.142
.140
.140
.141
.145
.146
.142
.141
Price, service station, 50 cities
do L
. 1.44
2
1 Data will be shown when available.
No quotation.
' Revised.
* New series. Data on retail price of anthracite for period 1929-36 are shown in table 10, p. 20 of the February 1937 issue.
!Revised series. Anthracite and bituminous coal production revised for years 1935 and 1936. Revisions not shown in the March 1937 issue will be published in a subsequent issue. Series on petroleum and products revised for 1935. See table 14, p. 19 of the April 1937 issue. Series on consumption of gas and fuel oil in the production of electric power
revised for 1936. See p. 45 of the May 1937 issue. Production of beehive and.byproduct revised for 1936, revisions not shown above will appear in a subsequent issue.
0
Data on stocks of crude petroleum east of California revised in January 1937, certain stocks formerly included in "tank farms and pipe lines" being transferred to
"refineries." December 1936 figures comparable with those shown for January 1937 are, refineries, 39,912; tank farms and pipe lines, 206,497.
46
SURVEY OF CURRENT BUSINESS
Monthly statistics through December 1935, together with explanatory notes and references
to the sources of the data may be found in
the 1936 Supplement to the Survey
1936
1937
July
September 1937
July
1937
Decem- January FebruOctober NovemAugust September
ber
ber
ary
March
April
i
May
June
FUELS AND BYPRODUCTS—Continued
PETROLEUM AND PRODUCTS—Con.
Refined petroleum products—Continued.
Gasoline—Continued.
Production:
At natural gas plants
thous. of bbl._
At refineries
do
Retail distribution^
thous. of gal—
Stocks, end of month:
Finished gasoline, total... thous. of bbl—
At refineries
do
Natural gasoline
do
Kerosene:
Consumption, domestic
thous. of bbl_.
Exports
do
Price, water white 47, refinery, (Pennsylvania)
__ dol. per gal..
Production
thous. of bbl__
Stocks, refinery, end of month
do
Lubricants:
Consumption, domestic
do
Price, cylinder, refinery (Pennsylvania)
dol. per gal..
Production
..thous. of bbl..
Stocks, refinery, end of month
do
Asphalt:
Imports.
thous. of short tons..
Production
do
Stocks, refinery, end of month.do
Wax:
Production
thous. of lb__
Stocks, refinery, end of month
do
i
3.355
3,507
3,584
3,830
3,732
3,816
3,565
3,908
3,965
3,911 . 3.988
3,869
43, 500
44, 024
44, 568
45,887
43,138
43, 630
44, 658
40, 782
44,621
44,475 ; 46,769 : 45, 748
1,926,411 1,890,846 1,815,342 1,796,605 1,649,380 1,622,953 1,314,492 1,306,303 1,648,097 1,718,236 11,879,420
1,084
.050
.180
55,922
35,062
5,846
53,040
33,417
5,653
51,394
31,230
4,945
51, 238
31,936
4,555
52,509
33, 242
4,153
56,353
37, 057
4,055
64,293
44,144
4,032
71,453
50,919
4,290
74,171
52,887
4,799
3,019
474
3,218
607
4, 305
690
4,370
565
4,943
841
6,148
5,297
4,226
805
4,786
437
4,465 I
762 |
.052
4,455
8,228
.049
4,297
8,690
.050
4,428
8,217
.050
.050
4,712 ' 4,788
7,976
6,966
.051
5,500
5,633
.052
5,923
5,622
.053
4,866
5,443
.053
5,187
5, 396
.051 i
. 050 ,
4,907 j 5,343
5,047 | 5, 576
. 050
5. 087
6,781
2,123
1,851
2,059
1,911
1,938
1,821
1,763
1,518
2,490
2,224 ! 2.078;
2,039
.155
2,626
6.620
. 155
2,668
6,730
.155
2, 567
6,544
.151
2,632
6,576
.150
2, 853
6,628
.155
2,767
6,942
.160
2,649
7,168
.173
2,728
7,115
.190
2, 863
6,771
.200 :
3,04S I
6,556
.195
2,988
0,447
1
426
488
1
491
389
3
468
305
2
475
302
1
344
2
244
368
0
226
444
5
184
445
5
284
497
330 !
528 i
34, 720
118, 257
35, 000
116,888
34, 440
113,359
42,840
113,049
42,840
119,307
41, 720
109,012
41, 720
104, 653
41, 720
41,160
115,434 •107, 490
73,419 ! 72,2ml > 67, 609
51, 474 I 48, 180
43.912
5, 292 I 5. 989 < 6,257
3, 259
608
4, 3 r,Q
652
.200
3. 141
6, 47S
4
413
547 i
3
462
43,680 j 47,320 ! 41,160
100,275 i 103,614 : 103, 701
LEATHER AND PRODUCTS
HIDES AND SKINS
Imports, total hides and skins
thous. of lb__
Calf and kip skins
do
Cattle hides
__.do
Goatskins
__
__do
Sheep and lamb skins
do
Livestock (inspected slaughter):
Calves.
thous. of animals-Cattle
do__Hogs
do
Sheep
do
Prices, wholesale (Chicago):
Packers, heavy steers
dol. per l b ~
Calfskins, packers', 8 to 15 lb
do
LEATHER
Exports:
Sole leather
thous. of lb_.
Upper leather
thous. of sq. ft—
Production:
Calf and kip
thous. of skins..
Cattle hides
thous. of hides..
Goat and kid
thous. of skins__
Sheep and lamb
do
Prices, wholesale:
Sole, oak, scoured backs (Boston)
dol. per lb__
Upper chrome calf B grade, black, composite
dol. per sq. ft—
Stocks of cattle hides and leather, end of month,
total
thous. of equiv. hides.In process and
finished
do
Raw
do
27, 985
1. 540
9, 810
8,389
6,443
26,050
2,015
10,869
6,452
4,792
23,013
1,068
12, 004
5,024
3, 521
22,442
1,967
9,429
5,183
4,354
20,617
1,571
7,325
5,593
4,077
23,838
1,421
12,465
4,368
4,172
29,722
2,393
14,142
6,552
4,705
23, 363
1,575
10, 554
5,791
2,375
27, 500
1,725
11,622
7,143
4,291
41,096
2,345
17,147
10, 746
7,205
33, 628
1,600
15,981
8,642
4,845
520
790
1,643
1,390
523
928
2,692
1,352
541
1,012
2,254
1,395
553
1,071
2, 403
1,593
585
1,124
3,492
1,742
477
988
4,292
1,644
494
987
4,681
1,573
484
867
3.519
1,700
437
708
2,842
1,315
592
825
3,033
1,312
802
2,810
1,334
.180
.208
.124
.170
.131
.174
.147
.172
.149
.177
.153
.201
.156
.215
.162
.228
.160
.213
.166
.241
.172
.242
211
5,268
241
4,846
144
4,787
176
5,973
300
6,116
296
4,872
133
6,807
264
6,385
224
293
5,960
191
5, 793
1,289
1,834
3,237
1,158
1,866
3,900
3,391
1,051
1,806
3,947
3,059
1,083
2,051
3,862
3,692
2,007
3,663
3,314
1,180
2,154
4,315
3,494
982
2,094
3,810
3,151
1, 035
2,030
3,743
3,163
1,103
2,234
4,393
3,326
1,161
2,095
4, 230
3,519
r 1, 018
r 1,971
4. 170
3.216
1,103
1,939
4,601
3,071
.410
.330
.330
.350
.360
.370
.390
.400
.410
.418
.445
. 450
.430
.429
.370
.372
.378
.379
.383
.399
.416
.419
.431
. 442
17,687
11, 676
6,011
17,456
11,417
6,039
17,198
11,118
6,080
17,190
11, 245
5,945
17,436
11, 522
5,914
17,173
11,294
5,879
16,913
11, 214
5,699
16, 523
11,132
5,391
16,296
11,164
5,132
242,106
152,627
89,479
206,559
119,049
87,510
183,109
104, 525
78, 584
211,066
133,897
77,169
225,941
140, 592
85,349
28. 750
29,833
2,523
1,196
6,941 I 10,413
11,323
9, 560
7,208 ; 4,842
;
)
I
!
579
840
2,110
1,425
. 169 i
.221 i
.168
.216
561
745
2.099
1,371
186
4,120
330
5,001 j
15,997
15, 629 I
11,148 I 11,153 !
r
4,849
4, 476
15,421
11,103
4,318
LEATHER MANUFACTURES
Gloves and mittens:
Production (cut), total
dozen pairs.. 213,147 220,474 242, 741 245,115 274,853
130, 603 139.173 153,229 156,140 179,561
Dress and semidress
do
95,292
88,975
89,512
81,301
Work
d o . . . . 82,544
Shoes:
134
111
103
149
Exports
.thous. of pairs..
Prices, wholesale, factory:
5.50
6.00
6.50
5.50
6.50
Men's black calf blucher
dol. per pair.
4.50
5.00
4.50
4.50
4.50
Men's black calf oxforddo
3.35
3.15
3.15
3.15
3.15
Women's colored blucher
.do
Production:!
Total boots, shoes, and slippers
34, 624
39,916
40,668
40,975
35,678
thous. of pairs.
180
252
221
204
217
Athletic
do...
271
229
165
144
147
All fabric (satin, canvas, etc.)
do
553
229
255
190
231
Part fabric and part leather
do
28. 425
33, 241
31,152
33,851
29, 598
High and low cut, total
..do...
1.
372
1,603
1,771
1,567
1,
561
Boys' and youths'.
_.do_._
1,839
1,877
1,969
1,600
1,720
Infants'
do
3,399
2, 694
3,388
3,065
3,467
Misses' and children's.
.do...
9,546
8, 051
10,072
8,724
9,297
Men's
do...
16, 815
13,953
14, 648
14, 4G8
17,801
Women's
do
Slippers and moccasins for house wear
7,163
4,
347
5,308
6,146
4,590
thous. of pairs.
891
964
938
911
All other footwear
do.-.
848
230,941 '224,5
143, 544 136,7
87, 397
* 228, 612
'142. 209
»• 86, 343
90
90
83
71
137
153
1.60
5.50
4.50
3.15
5.50
4.50
3.15
5.50
4.50
3.15
5.60
4.69
3.23
5.60
4.81
3.25
5.60
6.00
t. oo
• 1. U U
30, 343
216
303
187
22,171
1,376
1,753
2,676
8,381
7,984
33, 381
258
239
463
26,841
1,459
1,890
3,123
9,266
11,103
36, 867
223
541
721
31, 628
1,460
2,123
3,410
9,381
15,255
39, 362
202
1,187
2,224
31,477
1,500
2,233
3,652
9,901
14,190
45, 946
259
1,420
2,557
35, 865
1,710
2,537
3,987
11,232
16, 399
40,186
252
1,106
1,442
31, 407
1,551
2.333
3,418
9,951
14,153
35, 304
231
1,070
1,097
27,335
1,700
1,938
2,987
8, 697
12. 012
6,628
4,449
1,131
2,435
1,318
2,843
1,430
4,003
1,841
4,169
1,808
4,131
1, 439
6.00
3.35
3.25
r 34, 383
233
507
' 633
r
27,175
' 1, 497
T
2, 044
' 2. 901
* 9. 031
' 11,703
r
4, 575
' 1, 260
' Revised.
^Number of States reporting varies slightly from month-to-month. but the comparability of the series is not seriously affected.
« One company ceased reporting after December 1936. Figure for December 1936 comparable with January 1937 is 110,634.
fRevised series. Production of boots and shoes, for 1936 revisions see p. 46 of the March 1937 issue. Series on retail distribution of gasoline revised for 1935 ana
Revisions not shown on p. 46 of the May 1937 Survey will appear in a subsequent issue.
47
SURVEY OF CURRENT BUSINESS
September 1937
Monthly statistics through December 1935, together with explanatory notes and references
to the sources of the data may be found in
thp 1938 Supplement to the Survey
1936
1937
July
July
1937
DecemOctober NovemAugust September
ber
ber
January
February
March
April
May
June
LUMBER AND MANUFACTURES
LUMBER—ALL TYPES
Exports (boards, planks, etc.)
M ft.
National Lumber Mfcrs. Assn.f
Production, total
_mill. ft.
Hardwoods
_._
Softwoods
-.
Shipments, total.
Hardwoods
Softwoods
Btocks, gross, end of month, total
Hardwoods
Softwoods
Retail movement (yard)1
Ninth Federal Reserve District:
Sales
M ft.
Stocks, end of month
Tenth Federal Reserve District:
Sales
Stocks, end of month
b. m_
93, 751
95,230
b. m.
do_._
do._.
do...
do
do
do
do
do_._
2,282
342
1,940
2,028
268
1,700
7,900
1.949
5, 951
2,218
337
1,881
2, 056
315
1,742
7. 265
1,866
5.399
b. m.
do
12, 334
83, 438
11,827
77,794
do...
do...
3,369
32, 619
M ft. b. m_
do...
-do._.
do...
do...
do___
do...
do
-do...
do...
62,036
84,644 ! 112,807 | 99,663 I 129,315
51,803
63,169
1,827
311
1, 516
1,899
319
1,581
7,432
1,816
5,616
1, 571
301
1,270
1,813
359
1,454
7,619
1,895
5,724
1,597
270
1,327
2,051
377
1, 674
7,195
1,810
5,385
2,154
332
1,821
2,298
359
1, 939
7,108
1,813
5,295
10,726
63,934
4,785
67, 976
4, 264
79,170
2,765
86, 554
4,648
30, 756
3,991
30,197
3,408
31,299
2,047
32,079
1,990
32,811
4,652
89, 716
2,566
33, 319
3,168
32, 769
3,346
33, 014
10,100
13, 600
8,600
9,000
21,000
7,400
12,600
9,000
8,500
21,500
6,800
12,900
7,350
7,050
22, 500
15, 500
19, 700
8,100
8,900
21, 700
8,900
21,300
7,300
8,100
20,800
9,600
21, 000
7,600
9,300
19, 600
10, 346
21,015
9,746
10, 348
18, 757
8. 803
20, 224
9, 906
9, 475
19, 550
5,800
17, 200
8,300
8,500
19, 800
32,953
29,408
30, 872
30,408
65,390
40, 671
36, 647
32,378
33,432
64,336
39,210
41,922
33,864
33,935
64,265
56, 471
68,405
31,752
29,988
66,029
41, 589
74,116
35, 489
35,878
65, 640
30,569
65,838
34,012
38,847
60,805
26,409
57,856
31,853
34,391
58,267
29, 737
51, 166
39,006
36,427
60, 846
28,399
44,312
37, 370
35, 253
62, 763
24,856 j 20,458
38,713
33, 682
34,438 I 30, 637
30,455
25,489
66,746 i 71,894
I
27, 670
19, 456
28,920
31,776
21,248
22, 625
2,509
1,465
3, 505
62
1,723
52
12, 750
8, 522
31, 397
19,811
31,248 i 49,339 |
85,813
82, 409
89,934
2,151
351
1,800
2,122
342
1,781
7,438
1,876
5,562
2,352
351
2, 001
2,327
356
1,972
7,463
1,870
5,593
12,042
74,909
12,842
72,208
14, 355
67,785
3,840
31,894
4,137
31,445
3,536
31, 349
6. 200
12. 300
7,800
7, 850
19, 900
7,050
13,000
7,000
9,000
20, 600
8,300
12, 400
7,900
8,500
21,000
25, 633
31,107
28, 244
28, 208
71,930
29, 463
26, 863
32,980
30,123
64,926
33, 761
42, 146
32, 063
23,629
2,171
348
1,823
2,005
331
1,674
7,419
1,883
5,536 I
1,816
314
1,502
1,751
340
1,411
7,512
1, 842
5,670
107, 661
2,319
327
1,991
2, 088
307
1,781
7,328
1,826
5, 502
2,472
337
2,135
2,138
274
1,864
7, 656
1,884
5,772
6,919 ' 10,082
89,883 ; 88,887
13, 249
86,035
2,870
32,918
2,168
338
1,830
2,169
342
1,827
7,106
1,810
5,296
FLOORING
Maple, beech, and birch:
Orders:
New
Unfilled, end of month
Production
Shipments
Stocks, end of month
Oak:
Orders:
New
Unfilled, end of month
Production
Shipments
Stocks, end of month
SOFTWOODS
Fir, Douglas:
Exports:
Lumber-..
_M ft. b. m_.
Timber
do
Prices, wholesale:*
No. 1, common boards.dol. per M ft. b. m_.
Flooring, 1x4, " B " and better, V. G.
dol. per M ft. b. m_.
Bouthern pine:t
Exports:
Lumber
M ft. b. m_.
Timber
do
Orders:
New
mill. ft. b. m.
Unfilled, end of month
do
Price, wholesale, flooring
dol. per M ft. b. m.
Production
mill. ft. b. m.
Shipments
_do
Stocks, end of month
do
Western pine.t
Orders:
New
_
,do
Unfilled, end of month
do
Price, wholesale, Ponderosa pine, 1 x 8 no. 2,
common (f. o. b. mills)-dol. per M ft. b. m.
Production
...mill. ft. b. m_.
Shipments
do
Stocks, end of month.
do
West Coast woods:^
Orders:
New
mill. ft. b. m_.
Unfilled, end of month..
do
Production.
do
Shipments
do
Stocks, end of month..
do
Redwood, California:
Orders:
New
M ft. b. m_.
Unfilled, end of month
do
Production
do
Shipments
__
do
FURNITURE
All districts:
Plant operations.._
percent of normaL.
Grand Rapids district:
Orders:
Canceled
percent of new orders..
New
no. of days' production..
Unfilled, end of month
no. of days' production..
Outstanding accounts, end of month
no. of days' sales..
Plant operations
percent of normal..
Shipments
no. of days' production..
Prices, wholesale:
Beds, wooden
1926=100..
Dining-room chairs, set of 6
do
Kitchen cabinets
do
Living-room davenports
do
Steel furniture (See Iron and Steel Section).
f
!
11,042 ; 39,477 1
21. 805
20.090
19.845
19.502
19. 600
19. 600
20. 286
20.825
21. 560
21.854
43.200
41.160
40.180
40.964
41.160
41.160
42.532
43. 610
45.080
45.080
22, 603
3, 555
25, 463
5,137
19,836
4,224
19,955 ! 24,797
6,587 j
4,213
25,322
4,310
17, 822
5,573
25,265
5,163
32,184
4,978
25,813
,941
676
409
796
509
535
570
409
38.59
661
641
1,555
39.28
671
696
1,530
41.68
584
659
1,730
612
464
44.56
595
683
1,642
334
423
411
411
26.80
163
311
1,509
624
359
604
324
693
384
645
374
691
374
36.52
634
609
1,575
36.61
628
633
1,570
401
287
379
335
468
361
428
321
455
325
393
329
429
442
28.68
570
425
1,796
23.78
491
381
1,687
23.79
516
397
1,806
23.92
477
424
1,859
23.91
471
454
1,876
24.28
365
362
1,879
24.46
264
351
1,792
327
445
25.77
179
314
1,657
471
474
578
588
1,088
572
393
594
594
1,199
558
462
515
490
1,225
530
452
516
539
1,202
726
520
679
658
1,223
418
661
336
277
1,282
642
907
444
397
1,329
440
1,021
354
326
1,357
30, 603
37,172
35,434
30,992
32,201
36,608
38,939
33,477
34,426
33,781
38,928
36,390
34,327
33,000
41,884
33,814
32, 668
39, 873
34, 564
25, 998
45, 013
60, 503
31,119
24,382
48,393
81, 663
35,108
27,622
74.0
68.0
74.0
81.0
86.0
85.0
82.0
4.0
23
3.5
23
3.0
21
5.0
23
5.0
20
5.0
10.5
15
27,
50,
42,
37,
278
451
006
289
46.49
675
625
1, 692
25
30
33
33
25
60.5
15
25
63.5
16
30
73.0
18
31
76.0
19
572
391
83.1
99.4
87.6
95.4
67.9
84.0
83.5
87.5
70.4
84.0
83.5
87.5
71.1
84.0
83.5
87.5
70.5
85.5
83.5
87.5
529 !
359
46.22
45.69
676
665 !
590 I
501
1,778 I 1,882
44.69
644
500
2,026
28.05
297
395
1,411
28.69
570
405
1, 651
424
926
422
519
1,260
714
908
684
732
1,211
643
884
599
667
1,143
637 I
629 i
1, 151
607
591
750
803
1,098
32,142
80,281
34, 791
33,435
39, 437
74, 421
39, 783
43, 870
34, 570
74, 645
38,911
36, 760
34,746
69,882
40,811
38,668 !
5.5
18
7.0
21
84.5
0.5
9.0
16
6.0
305
302
29,
56,
44.
40,
251
779
320
422
7.0
14
24;
38
33
33
32
40
31
77.0
19
30
78.5
16
76.0
85.5
83.5
88.9
76.6
97.0
82.5
94.0
31
83.0
18
78.2
97.0
82.5
94.0
84.0
82.5
78.2
97.0
87.6
94.0
78.5
98.4 '
87.6
95.4
20
16
30
78.0
15
78.5
98.4
87.6
95.4
Revised.
t Revised series. For 1935 and 1936 revisions, see table 16, total lumber and table 17, Southern pine and Western pine lumber, p. 20 of the April 1937 issue
• New series; for data for period 1922-36 see table 7, p. 19 of the February 1937 issue.
1 Data for July, October, and December 1936 and March and June 1937 are for 5 weeks; other months, 4 weeks.
475
334
448 i
393 )
39
30
78.5
17
71.7
85.5
83.5
88.9
22. 050
44.100
403
359
28.86 | 28.91 !
392 i
522 I
402 j
437 |
1,401 ! 1,486 '
81.5 |
5.0
29
39,959
37, 529
27,751 | 32,813
26, 823
7,050 I 6,766 ; 5,442
26
29
68.0
15
22.050 j
45.080 i 45.080 !
44. 59
625
599
2,052
37. 29
38. 31
640 I 671
655
691
1, 555 1,535
22.050
5,850
13,850
9,200
8,800
20, 400
29
75.0
14
82.4
98.4
87.6
95.4
48
SURVEY OF CURRENT BUSINESS
Monthly statistics through December 1935, together with explanatory notes and references
to the sources of the data may be found in
the 1936 Supplement to the Survey
1936
1937
July
September 1937
July
1937
Decem- January
October NovemAugust September
ber
ber
February
March
April
May
671,777
68,197
969,191
49,0c0
826, 538
44, 771
40.06
39.82
5,114 ! 5,340
3,771 I 10,044
4,640
10,108
June
METALS AND MANUFACTURES
IRON AND STEEL
Foreign trade, iron and steel:
Exports (domestic)..
long tons_.
Imports
do
Price, iron and steel, composite
dol. per long ton..
Ore
Iron ore (Lake Superior dist.):
Consumption by furnaces
thous. of long tons..
Shipments from upper lake ports
do
Receipts:
Lake Erie ports and furnaces
do
Other lower lake ports
do
Stocks, end of month, total
..do
At furnaces
do
Lake Erie docks
do
Imports
do
Manganese ore, imports (manganese content)
thous. of long tons--
296, 747
47, 940
295,346
60, 697
235, 777
59, 993
261,897
64, 509
203 302
61 970
244,186
52,484
201, 512
43,063
291, 079
41, 628
570, 669
51, 702
33.49
33.88
34.15
34.63
34.65
35.15
36.55
36.74
39.92
40.39 j
i
I
3,826
7,160
3, 969
7,444
4,027
7,481
4,385
7,301
4 269
3 758
4,551
0
4,694
0
4,443
0
5,142
0
5,064
2,147
25, 211
21,194
4.017
198
5,120
2,005
28,158
24,008
4,150
234
5,383
1,904
31,978
27, 555
4,422
258
5,388
1,989
35,156
30, 377
4,780
193
3 014
1 430
35 378
30, 460
4 918
204
62
37
31, 402
27, 022
4,380
189
0
0
26,747
22,986
3,761
186
0
0
22, 418
19,081
3,337
210
0
0
17,437
14, 585
2,852
215
21
41
36
40
37
48
29
20
41
45,179
42, 253
52.0
35, 554
44,361
46, 552
57.0
40,194
55, 521
51,778
61.9
48, 338
58,152
50,934
62.3
50,041
67, 035
61, 674
73.5
57, 609
54, 070
53, 638
67.4
51, 754
60,187
57, 295
72.0
55, 742
68, 502
67, 559
82.2
67, 262
62, 940
63, 377
78.2
62, 905
88, 075
148
94,140
155
97, 740
161
99, 205
164
102, 195
170
104, 060
170
108, 720
176
112,970
182
19.00
19.86
19.00
19.80
19.00
19.80
19.25
20.00
20.00
20.82
20.50
21.30
20.75
21.44
23.10
23.80
114,665
187
23.50
24.06
21.39
2,712
21.39
2.730
21.39
2,992
21. 64
2,947
22.39
3, 115
22.89
3,212
23.14
2,999
25.49
3,459
25.89
3,392
3.020
3,634
39, 723
4,793
5,809
38, 706
4,256
8,633
34, 338
2,748
5, 202
31,681
2,584
3,562
29, 965
3,123
2,244
30,090
3,689
1,897
31,857
3, 855
2,131
33, 800
2,835
1,808
32, 953
2,430
1,622
33, 731
1,893
2,130
34, 278
27, 265
24, 658
142, 225
29, 062
33, 549
137, 671
32, 748
45, 960
123, 005
22, 992
28, 642
122,143
23, 821
19, 765
125, 090
24, 084
13, 616
135, 356
24, 497
11,308
148, 420
25, 653
27,129
13, 947
14, 345
159,185 ! 170, 516
23,143
12, 7J 0
180,844
20,177
15,252
186, 531
633
427
613
640
7,180
4,572
37,069
7,692
3, 613
41,210
7, 669
4,343
44, 609
7,797
4,624
48,003
5,266
4,416
48,972
4,538
5, 360
48, 371
5, 236
10, 704
7, 555
3,117
29, 151
25, 300
3,851
231
5.8
r
1, 830
770
14 632
12 295
2 337
197
6,695
3,241
18,800
16, 255
2, 544
215
7, 562
2,293
24, 395
21,066
3,329
198
33
Pig Iron and Iron Manufactures
Castings, malleable:
41,031
Orders, new
.short tons.. 41,353
44, 413
Production
._
do
45, 479
53.3
54.7
Percent of capacity.46,158
Shipments
short tons-. 44, 719
Pig iron:
Furnaces in blast, end of month:
83, 720
Capacity
long tons per day.. 115,445
146
1S2
Number
Prices, wholesale:
19.00
Basic (valley furnace)--dol. per long ton.. 23. £0
19.96
Composite
do
24.06
Foundry, no. 2, northern (Pitts.)
21.39
dol. per long ton.. 25. 89
2, 594
3,499
Production
.thous. of long tons..
Cast-iron boilers and radiators:
Boilers, round:
3,066
1, 858
Production.
thous. of lb_.
3,905
2, 325
Shipments
do
33, 777 40, 314
Stocks, end of month
do
Boilers, square:
24, 867
16,198
Production
do
29, 200
17,471
Shipments
do...
Stocks, end of month
d o — 185, 090 139, 619
Radiators:
Convection type:
Sales, tncl. heating elements, cabinets,
and grilles
803
thous. sq, ft. heating surface..
855
Ordinary type:
6,821
4. 309
Production
-do
8,027
5, 543
Shipments
do—
Stocks, end of m o . .
d o — 47, 433 39, 223
Boilers, range, galvanized:
Orders:
New
number of boilers.. 30,809 115,834
19, 707 64, 671
Unfilled, end of mo., total
do
Production
d o . . . . 35, 208 80, 036
35, 555 78, 442
Shipments
do
39, 377 39, 755
Stocks, end of month
do
Boiler and pipe fittings:
Cast iron:
6,414
5,978
Production
short tons..
7,690
Shipments
_.
do
Malleable:
4,233
4.601
Production
do
4,404
3,716
Shipments
do
46,018 !
55, 960 I
69.6 |
57, 327
I
103,960
170
43, 141
54, 026
64.8
56, 921
10c, 975
181
23.50 ;
24.06 i
23. 50
24. 06
25. 89 i
3,537 j
2c. 89
3,108
755
750
7,487
7,785
39, 246
7,917
9, 190
38, 216
9,914
12, 452
35,990
7,111
9,475
34,032
7,689
7,444
33, 020
89,192
50,064
103, 208
103, 799
39,164
91,142
44, 518
96, 757
96, 688
39, 233
151,230
57,842
133, 848
137,906
35,175
91,317
39. 310
111,534
109, 849
36, 860
129, 644
83,949
91,451
85, 028
43, 326
122, 930
103, 694
100,364
103,185
40,505
60,149
56,498
106,168
107. 345
39, 622
86, 439
51,418
94, 899
91, 519
43, 002
85, 720
56,132
80, 393
81, 006
42, 389
37, 099
37, 366
56, 247
55, 865
42, 771
39, 210
24,453
49, 076
52,123
39, 724
7,160
9,529
8,211
9,613
10,170
8,902
8,134
9, 193
7,365
8,818
8,542
8,693
8,719
10, 432
9,520
9,802
9,093
8, 265
6,426
7,472
6,177
4,225
5,697
5,200
5,454
5,639
5,794
5,270
4,618
5,601
4,584
5, 544
5, 952
5,922
6,338
6,586
6,095
6,965
6,864
5,907
4, 661
5,610
4,350
227. 97
227. 96
789 !
478 I
465
Sanitary Ware
Plumbing and heating equipment, wholesale
222. 47
221. 95
221. 80
223. 86
222. 12
222. 35
price (8 pieces)
..dollars..
228. 29 221.80
Porcelain enameled products:
1.027,198 1,105,921 1,119,943 1,139,842 1,025,742 1,255,817 940, 668
Orders, new, total
do
0)
292, 762 257,132 235, 617 201, 245 257,344 319, 452 224,042
Signs...
_
_
..do
0)
294, 246 355,827 287, 987* 325,894 240,369 306, 329 228, 077
Table tops
_
do.._.
0)
1.003.919
Shipments, total
_
do
1,196,996 1,055,713 1,087,682 1,192,520 1,298,152 911,011 1,109,110
285,187 263,992
Signs
do
283,917 298, 549 285,935 316,116 295, 440 214,742 320,
743 260,120
221, 318
Table tops
d o . . . . 277,413 310,063 310,583 338, 500
224.82
226. 91
892,149
171,884
208, 908
904, 995
230, 595
232, 766
1,274,780
283, 278
357, 772
1,179,518
258, 86S
298, 690
228.
06
1,363,901 1,183,901 j 999,175
303, 653 253,141 i 320, 090
312, 672 223, 031
208, 013
1.293.326 1,238,476 Jl, 069, 610
264, 390 299,389 ! 278,658
358, 622 242,862 ! 206,263
Steel, Crude and Semimanufactured
Castings, steel:
95. 693 158. 079 99,672 ! 68,688 ! 71,817
76, 394 159, 430 114, 959
59, 431
74.011
59,393
56, 877
Orders, new, total—
..short tons..
83.6
80.2
132.6
57.6
60.2
96.4
64.1
133.7
49.8
62.1
49.8
47.7
Percent of capacity
86, 557 41,995
51,908
24,458 | 31, 460
62,102
85.
076
35,
714
17,
962
21.
455
16,
686
34.443
Railway specialties
.short tons..
92, 678 111,525 105,475
95,995 | 101, 239
89, 649
83,615
74, 775
68, 874
81, 574
76, 617
78, 654
Production, total-.
do
88-4
93.5
77.7
80.5 !
84.9
75.2
70.1
62.7
57.8
68.4
64.2
66.0
Percent of capacity
45, 896
50,911
42,849
40,998 | 44, 462
40. 8G7
35, 309
28, 094
30,006
36. 826
34, 304
34.858
Railway specialties..short tons_.
I
Ingots. steel: f
5,072
4,414
5,217
4,424
5, 154 | 4,184
4,725
4,534
4, 323
4.184
4,151
3.914
Production
thous. of long tons_.
84
89
83
76
77
74
73
73
68
Percent of capacity!
_-.
91 i
Bars, steel, cold finished, shipments
73, | 62,329 I 53,044
60,363 i 65,668 I 84,858 II 73,951
44,382 I 39,931 j 41,049 ' 47,105 I 41,638 ' 52,467
short tons..
1
1
t Data revised for 1936. See p. 48 of the June 1937 issue.
Discontinued by the reporting source.
Less than 500 tons.
1 Beginning January 1937, the American Iron and Steel Institute computes the percent of capacity on a weekly average basis, with no allowance for Sundays or holidays;
the figure shown here will be carried forward on the old basis (which relates daily average output to daily average capacity with allowance for Sundays, July 4, and Christmas)
in order to keep the series comparable.
49
SURVEY OF CURRENT BUSINESS
September 1937
1936
1937
Monthly statistics through December 1935, together with explanatory notes and references
to the sources of the data may be found in the
1936 Supplement to the Survey
July
July
1937
Decem- January
August Septem- October November
ber
February
March
April
May
June
METALS AND MANUFACTURES—Continued
IEON AND STEEL-Continued
Steel, Crude and Semimanufactured—
Continued
Prices, wholesale:
Composite, finished steel
dol. per lb_. 0. 0290
Steel billets, rerolling (Pittsburgh)
37.00
dol. per long ton_.
Structural steel (Pittsburgh)
dol. per lb_. .0225
17.63
Steel scrap (Chicago)
dol. per gross ton..
U. S. Steel Corporation:
Earnings, net
thous. of doL.
Shipments, finished products
long tons.. 1,180,752
Steel, Manufactured Products
Barrels, steel:
Orders, unfilled, end of month
number.. 767, 021
636,890
Production.
do
47.0
Percent of capacity
Shipments
number.. 637,830
18,
099
Stocks, end of month
do
Boilers, steel, new orders:
979
Area
thous. of sq. ft..
1,181
Quantity
number..
Furniture, steel:
Office furniture:
Orders:
2,008
New
thous. of dol_.
1,871
Unfilled, end of month
do
2, 971
Shipments
do
Shelving:
Orders:
564
New__
do
533
Unfilled, end of month
do
565
Shipments
do
Safes:
Orders:
(«)
New
_.
do
(a)
Unfilled, end of month..
do
Shipments
do
(°)
Spring washers, shipments
do
249
Plate, fabricated steel, new orders, total
short tons.. 26, 854
7,726
Oil storage tanks..
__
do
Sheets, black, blue, galvanized, and full finished:
Orders:
0)
New
_
short tons..
Unfilled, end of inonth___,
do
(0
Production, total
.do
0)
Percent of capacity
(0
Shipments..
short tons_.
0)
Stocks end of month, total
do
(0
Unsold stocks...
do
0)
Track work, shipments.
do
8,252
MACHINERY AND APPARATUS
Air-conditioning equipment:
Orders, new:
Fan group
thous. of d o L .
Unit-heater group
do
Electric overhead cranes:
Orders:
New
do
Unfilled, end of m o n t h . .
do
Shipments.
do
Electrical equipment. (See Nonferrous metals.)
Exports, machinery. (See Foreign trade.)
F o u n d r y equipment:
Orders:
New
1922-24 = 100-Unfilled, end of m o n t h
do
Shipments. _
_
do
Fuel equipment:
Oil burners:
Orders:
New
number. .
Unfilled, end of m o n t h . .
...do
Shipments
do
Stocks, end of month
do
Pulverizers, orders, n e w . .
do
Mechanical stokers, sales: §
Classes 1, 2, and 3
do
Classes 4 and 5:
Number
Horsepower
_
_
_
Machine tools, orders, new
av. m o . shipments 1926=100..
Pumps:
Domestic, water, shipments:
Pitcher, other hand, and windmill__units.Power, horizontal type
do
Measuring and dispensing, s h i p m e n t s : !
Gasoline:
Hand-operated.
-.units. _
Power
do
Oil, grease, and other:
Hand-operated
do
Power
_
._
do
Steam, power, centrifugal, and rotary :t
Orders, new
thous. of d o L .
0. 0242
0. 0242
0. 0241
0. 0246
0. 0246
0. 0252
0. 0257
30.00
.0190
13.38
30.00
.0190
15. 19
30.40
.0190
16. 15
32.00
.0190
16.25
32. 00
. 0190
16. 50
32.40
.0199
17.15
34.00
. 0205
18. 06
950, 851
923, 703
35, 365
28,967
52,394
44,010
961, 803 1,007,417 882, 643 1,067,365 1,149,918 1,133,724 1,414,399 1,343,644 1,304,039 1,268,550
499,838
677, 462
50.6
672, 974
23, 621
427, 583
515, 380
38.4
518, 795
20, 206
456, 682
697, 783
51.9
694, 331
23, 658
1,110
1,091
1,081
1,140
1,233
1,511
918
1,511
1,517
996
1.439
1,587
1,033
1, 550
1,841
1,097
1,777
394
358
393
448
386
420
433
394
425
436
395
435
459
418
436
670
426
571
574
434
567
599
404
628
204
208
205
267
205
204
209
199
195
178
220
201
250
194
234
242
238
192
240
247
287
228
240
299
192
217
203
197
186 !
222 '
289 |
60, 324
9,968
31, 999
8, 604
35, 033
9,446
33, 791
6,632
40, 465
6. 368
51,017
9,320
41,419
10, 665
192. 873
263, 531
217, 651
71.5
213,372
138, 884
72, 603
6,216
207, 781
237,029
202, 456
66.5
197,156
141,328
79,451
6,401
255.557
287. 746
213, 706
70.2
204, 285
137, 556
71, 367
5,722
223,195
281, 226
235, 057
82.6
223, 874
133, 370
69, 355
5,547
294, 080
372,407
224, 031
78.7
212,130
128, 906
62, w3?
4,756
336, 758
456,811
230, 581
84. 7
244, 409
132, 432
59, 325
5,579
()
0)
0)
(0
0)
0)
0)
7,246
8,153
()
10, 720
1,621
812
1,336
763
1,154
871
983
1,013
1,078
1,624
1,044
1,279
1,141
1,137
871
1,204
711
638
4,469
676
404
2,085
566
539
2,208
416
479
2,275
412
416
1, 908
783
529
1,999
436
1,136
2,472
664
883
2,893
462
204.0
360.3
216.5
159.6
144. 5
145.7
145.4
152.1
137.2
161.0
162.8
150.5
174.4
174.0
162.9
200. 4
223.4
150.9
283.3
319. 6
187.1
16, 274
3,988
16, 404
23, 736
12
16,413
3,041
17,450
21,577
23
22, 347
4,224
21,164
23, 608
34
35, 252
4,071
35,405
16, 538
22
33, 355
3,467
33.959
14,102
23
15, 437
2,557
16, 347
15,174
38
7,249
5,952
9,123
16,139
17, 909
330
63, 460
336
67. 218
434
80, 268
499
75,106
462
89,130
171.1
150. 1
127.5
118.5
136.5
37, 657
1,721
60,054
1,326
55, 762
1,412
47,454
47, 548
1,306
863
16, 322
786
9,347
729
8,971
9,320
14, 695
4,011
14, 341
3,282
10,511
3,704
10, 563
3,331
0. 0258
0. 0283 0. 0290
0. 290
0. 0290
34. 00
. 0205
19. 44
36. 40
37.00
. 0221 .0225
20. 85 20.56
37. 00
. 0225
17.38
37.00
.0225
15. 95
343, 347 351, 888 800, 546 826, 510 623, 803 722, 659 516, 975 419,786 j 836,618
835,177 653, 971 804, 526 824, 073 622,338 855,889 851,681 684,356
828, 300
48.6
50. 9
62.1
46.3
59.9
63.6
63.2
61.6
61.2
836,983 658. 103 793,670 825, 406 627,755 853, 625 851, 112 686, 144 832, 076
17, 720 28,500
22,
795
24,014
24,
583
21,852
21,750
19,
019
27,167
I
651
937
1,006
1,872
'
1,549
719
674
969
855
682
1, 343
915
832
1,201
799
837
755
1, 734
1,186
1,646
2,227
2,444
1,363
1, 727
2,113 2,175
2,079
1,734
2,072
2,601
1,820
2,515 |
697
467
633
(°>
(a)
(a)
420
2,788
2,146
2,463
1.916
1,759
2,302
2, 325
1,935
2.183
728
552
643
503
503
552
570
534
513
(a)
(a)
(°)
430
42, 455
13,186
(a)
(a)
()
("•)
281
268
28,913
7,271 !
34,833
13,628
9,888
(0
0)
0)
0)
0)
8,807
()
0)
0)
0)
0)
(!)
0)
9,194
1,683
1,023
1,631
895
1,872
758
1,898
963
921
3,427
387
1.079
3, 994
578
1, 415
4,674
728
751
4, 666
749
534
4,507
692
190.9
333.3
177.2
249.5
380.0
201.8
294. 2
408.5
285.6
208.3
365. 4
232.5
242.0
376.8
226. 2
228.2
372.8
232.1
11,135
2,392
11, 300
16, 082
133
10,333
3,451
9,274
16,335
59
9,401
3,024
9,828
16,000
17
14, 242
2,838
14, 428
16,016
15, 361
3,517
14, 682
17,098
32
15,233
4,344
14, 406
20, 866
14,498
4,118
14, 724
22, 276
19
8,687
5,513
2,899
3,121
5,326
6,580
8,482
324
62, 680
309
79, 226
203
46, 914
165
37, 241
226
60, 249
202
47,770
235
46,414
257.7
200.3
165.2
259
62, 783
211. 6
33,022
1, 330
32, 602
1,134
66, 089
1,242
59, 201
1,349
53, 577
1,382
56,534 | 41,869
1,478 1,721
46, 039
1, 689
836
8,630
748
8,306
767
9,035
658
8,316
1,313
10,961
1,216
13,989
1.136
14,303
734
18, 080
14, 785
4,620
15, 841
3,242
15, 609
1,956
393
8,487
12,884
5,672
13,513
4,729
17,139
5,346
20, 462
6, 824
16, 052
r 5; 252
20,491
6,574
32,375 I 71.250
9,041 I 31,239
0)
0)
0)
0)
0)
0)
(0
0)
0)
0)
()
0)
(0
0)
0)
0)
0)
(•)
5,868 i
282.5 i
208.5 i
191.8
1,379
1,046
1,983
1, 899
1,183
1,542
1,535
1,271
1,198
1,721 I
1,533 1,448
1,2
i Entire series now being revised by the National Association of Flat Rolled Steel Manufacturers.The data will be shown in the Survey when available.
§ See note marked "§", on p. 50.
t Revised series. Measuring and dispensing pumps revised beginning January 1936; see p. 49 of the April 1937 issue. For steam, power, centrifugal, and rotary pumps
revisions
for period 1919-36, see table 15, p. 19, of the April 1937 issue.
0
r
Data compiled on a newbasis starting March 1937; revised series will be shown in a subsequent issue.
Revised.
50
SUKVEY OF CURRENT BUSINESS
1936
1937
Montniy statistics through December 1935, together with explanatory notes and references
to the sources of the data may be found in the
1936 Supplement to the Survey
July
September 1937
July
1937
DecemOctober NovemAugust September
ber
ber
January
February
March
April
May
June
METALS AND MANUFACTURES—Continued
MACHINERY AND APPARATUS-Con.
Water-softening apparatus, shipments..units—
Water systems, shipments
._
do
Woodworking machinery:
Orders:
Canceled
thous. of dol—
New
do.
Unfilled, end of month
do.
Shipments:
Quantity
machines..
Value.
thous. of dol—
1,070
17, 425
845
16,815
1,016
14,990
954
15,537
1,001
13,112
990
11,074
1,018
10,864
960
15, 562
1,012
16,082
1,141
15, 788
1,316
20,601
1,098
17, 759
919
17,468
503
1,096
12
474
610
16
571
657
652
819
10
561
816
14
737
1,050
7
744
1,195
21
744
9
564
1,342
2
904
1,508
24
748
1,437
10
602
,353
578
1,188
332
590
439
300
494
358
490
314
557
280
470
367
619
314
571
324
553
397
763
425
796
361
676
402
733
51,026
. 1238
29,113
.1165
40, 506
.1163
22, 836
.1198
19,178
.1222
27,496
.1263
29,744
.1274
28,363
.1281
41, 603
.1281
43, 016
.1281
35, 250
.1283
29, 570
.1275
35, 734
.1252
2,099
516
1,584
2,540
563
1,976
2,495
772
1,723
2,654
678
1,977
2,491
695
1,796
2,362
570
1,792
2,706
602
2,104
2,364
518
1,846
2,290
579
1,712
2,999
546
2,453
2,499
599
J,900
2,206
621
1, 585
2, 593
536
2, 007
31,735
29,161
22,148
17,186
14, 788
24,622
14,277
12,980
22, 737
12,939
11, 225
28,577
9,516
8,093
24, 560
23, 589
22,321
23,490
16, 702
12,599
22, 046
7,133
5,994
29,099
21,952
18,358
31,728
14, 553
12, 905
26, 850
14, 547
11,336
34, 430
13,281
10,717
1,508
1,067
. 1378
1,512
885
.0935
2
1,296
.0953
13
1,701
.0953
24
1,399
.0956
25
1,243
.1016
2,974
1,129
.1076
25
1,115
.1242
2,133
1,460
.1343
46
1,602
.1578
2,071
1.139
.1512
41
2,523
.1378
2.5, 927
'19,657
15, 942
'2,538
r
1,177
. 1378
1,073
249
402
602
593
848
683
31,096
6,390
32,052
4,954
35,760
4,722
32, 286
5,398
41,372
7,173
37, 775
5,115
37, 293
6,623
41, 629
5,427
.0511
.0555
40, 273 43,613
50,313
52,032
176,960 171,856
.0600
41, 223
45, 718
169,776
.0624
34,986
50, 375
156,832
.0719
.0618
.0600
41, 422 43,908 40,192
63, 425 55, 200 55, 212
137, 204 128,462 115,843
. 0600
37,321
42, 710
113,370
NONFERROUS METALS AND
PRODUCTS
Metals
Aluminum:
Imports, bauxite
long tons..
Price, scrap, cast (N. Y.)
dol. per lb__
Babbitt metal (white-base antifriction-bearing
metals):
Production, total
thous. of lb_.
For own use
do
Sales
do
Copper:^
Exports, refined and mfrs
.short tons..
Imports, total
do
For smelting, refining, and export—do
Product of Cuba and the Philippine Islands
short tons..
All other.._
do
Price, electrolytic (N. Y.)
dol. per l b ~
Lead:
Imports of ore, concentrates, pigs, bars, etc.
short tons..
Ore:
Receipts, lead content of domestic ore.do
Shipments, Joplin district
do._._
Refined:
Price, wholesale, pig, desilverized (N. Y.)
dol. per lb-.
Produetion from domestic ore..short tons..
Shipments, reported
do
Stocks, end of month
do
Tin:
Consumption in manufacture of tin and
terneplate
long tons..
Deliveries
do
Imports, bars, blocks, etc
do
Price, Straits (N. Y.)—
dol. per l b . .
Stocks, end of month:
World, visible supply
long tons..
United States
do....
Zinc:
Ore, Joplin district:
Shipments.
short tons..
Stocks, end of month
do
Price, prime, western (St. L.)_ dol. per lb._
Production, slab, at primary smelterst
short tons..
Retorts In operation, end of mo
number..
Shipments, totalf.
.short tons..
Domestic!
do
Stocks, refinery, end of m o |
do
186
1,192
2,997
382
1.742
38,872
4,602
34,137
5,879
31, 314
3.180
30,892
2,970
30,910
4,880
.0600
42, 480
47, 727
111, 103
.0460
36,863
38,996
231,081
.0460
31,117
46,388
218, 233
.0460
29,788
50,685
200, 517
.0463
39,317
59,210
183,430
3,330
4,980
6,558
.5931
3,260
7,120
6,674
.4297
3,050
5,385
6,069
.4357
3,300
6,200
5,626
.4474
3,300
6,005
6,327
.4494
2,940
5,345
5,098
.5132
3,200
6,930
8,339
.5285
3,070
7,615
8,509
3,130
7,675
7,238
.5194
3,680
9,080
10, 468
.6271
3,550
6,995
6,430
.5899
3,680
6,425
6,557
.5563
25, 646
6,193
16,759
2,151
17,642
3,095
16, 896
2,860
19,048
3,315
23,148
3,030
23,787
5,095
26,179
5,478
23,774
4,956
24,127
5,731
24, 593
4,741
23, 721
5,144
23, 291
4,810
46, 518
11, 070
.0692
22,060
41,270
.0478
35, 811
37,180
.0480
35, 780
30, 590
.0485
46,500
31,200
.0485
40,830
29,990
.0497
44,245
22,785
.0527
41, 262
14,288
.0585
43, 837
9,501
.0647
40, 021
10, 980
.0738
39,190
14, 690
. 0701
44, 632
18, 358
.0675
35,044
20, 624
.0675
49,181
46,199
49, 701
49, 701
13, 561
45,481
41,308
41,819
41,819
88, 517
43,542
41. 308
46,013
46,013
86,046
42,211
40,672
51, 775
51,775
76,482
46,225
41,733
53,963
53,963
68,744
45,670
43,103
56,887
56, 887
57,527
46,940
42,965
59,512
59, 512
44,955
40,047
40, 285
51,227
51,227
33, 775
37, 794
42, 786
46,953
46,953
24,616
53, 202
43, 635
59, 635
59, 635
18,183
52, 009
43,660
5fi, 229
56, 229
13,963
55, 012
43, 724
55, 201
55, 201
13, 774
50, 526
44,186
50,219
50,219
14, 081
3.260
6,645
6,344
. 5584
Electrical Equipment
Furnaces, electric, new orders:
3,262
3,664
9,166
2,757
3,365
3,161
5,077
2,721
4,225
Unit
kilowatts2,262
4,391
3,203
146
215
236
215
281
311
235
591
255
Value-.-.thous. of dol—
168
221
329
Electrical goods, new orders (quarterly)
271,064
260,836
228,062
thous. of dol—
191,319
Laminated phenolic products, shipments
1,229
1,059
1,190
1,131
1,135
1,138
1,005
1,451
1,292
1,226
1,060
thous. of dol—
1,0
Motors (1-200 H. P.):
Billings (shipments):
2,735
3,266
2,243
2,648
3,670
3,599
3, 560
3,222
3,450
2,476
2,536
2.319
2,466
A. C
thous. of dol—
742
941
727
660
558
811
1,018
634
524
1,038
793
661
D. C
_
do....
607
Orders, new:
3,955
3,301
2,508
2,563
4,626
4,276
3, 260
2,951
3,642
2,836
3,274
2,691
A. C
do—
2,628
1,074
1,284
573
658
965
695
1,655
D. C
do—
682
599
984
Power cables, paper insulated, shipments:
955
979
989
884
518
677
672
577
732
Unit
_
_..thous. offt664
655
1,234
672
1,023
1,370
607
1,090
1,533
1,295
Value
.—thous. of dol..
671
610
734
815
Power switching equipment, new orders:
I
99,621
89, 517 124,562 77,303 113,645 138,367 209,894 148,916 , 123,697
Indoor..
dollars— 141,314 118, 256
75,906
85,758
Outdoor
_
do
497,890 203,874 165,245 222,832 267.098 192, 967 284,308 341,395 374, 719 597, 804 754,827 335, 937 I 433,219
3, 092
1,425
1,719
1,699
3,402
3,159
2.842
1,708
Ranges, electric, billed sales
thous. of dol..
1,840
2,271
1,678
1,468
1,746
44,380 78, 265 123, 208 171, 405 245,718 352, 582 335, 214 333, 061 ! '267,770
Refrigerators, household, sales
number.. '192,906 205,098 106.975
80,050
Vacuum cleaners, shipments:
92,056 112, 787 148,113 140, 516 125, 921 102,153
Floor cleaners
do
71,628
84,108 104,944 109,636 100,983 114,892
52,301
34, 386
32,944 38,860 40,921
50, 020 42, 688
Hand-type cleaners.
do
32, 520 38,477
22,101
39,118
18, 765
Vulcanized fiber:
2,321
2, 616 I
2,809
2,235
2,446
2,367
2,780
2,382
3,007
2,609
2,179
Consumption of fiber paper
thous. of lb__
2,210
2,185
1
633
599
620
510
Shipments...
_
thous. of dol..
520
525
579
640
485
517
679
652
• Estimated.
* Revised.
^Monthly data on copper production, shipments, and stocks for months of 1936, comparable with those shown in the 1936 supplement through 1935, are shown in table
27, p. 20, of the July 1937 issue.
§ Classifications changed starting in January 1937, but for all practical purposes the series shown are comparable. Classes 4 and 5 are practically equivalent to former
class 4; changes made in classes 1, 2, and 3 do not affect the total for the 3 classes as shown here.
tData revised for 1936; see p. 50 of the May 1937 issue.
51
SURVEY OF CURRENT BUSINESS
September 1937
Monthly statistics through December 1935, together with explanatory notes and references
to the sources of the data may be found in the
1936 Supplement to the Survey
July
1937
1936
1937
Decem- January FebruOctober NovemAugust September
ber
ber
ary
July
March
April
June
May
METALS AND MANUFACTURES—Continued
NONFERROUS METALS AND
PRODUCTS-Continued
Miscellaneous Products
Brass and bronze (ingots and billets):
6,339
10,022
9,433
7,087
6,379
6,783
8,025
10, 626
Deliveries
net tons_.
7,773
7,939
10,101
8,210
Orders, unfilled, end of mo
_._do
17, 542
25, 289
23, 717
23, 796
32,411
30,436
33,077
29,309
30,286
26,408
20, 549
18, 037
Plumbing fixtures, brass:
Shipments
number of pieces.. 1,409,558 1,502,900 1,428,850 1,561,410 1,657,418 1,539,774 1,804,702 1,929,150 1,878,903 2,109,679 1,863,871 1,554,575
Radiators, convection type:
Sales:
Heating elements only, without cabinets
101
106
141
47
34
or grilles
thous. of sq.ft. heating surf.140
103
116
51
168
47
33
Including heating elements, cabinets, &
441
459
352
415
426
343
422
grilles
thous. of sq. ft. heating surf..
448
448
236
336
328
.152
.154
.162
8heets, brass, price, mill
dol. per lb_.
.155
.178
.157
.189
.198
.168
.210
.207
.196
Wire cloth (brass, bronze, and alloy):
Orders:
384
455
505
336
423
517
New__
thous. of sq. ft..
215
355
689
1,191
1,107
170
478
499
672
528
567
1,355
Unfilled, end of mo
do
1,010
774
1,362
2,051
1,763
1, 414
Production
do
413
408
433
501
428
535
493
521
488
580
557
525
Shipments..
do
510
416
406
442
457
418
508
512
628
477
558
510
Stocks, end of month
do
718
698
740
764
774
654
771
781
732
749
729
790
6,584
15,784
, 649, 852
56
446
.198
236
1,176
455
467
PAPER AND PRINTING
WOOD PULP
Consumption and shipments:! 0
Total, all grades
short tons..
Oroundwood
do.
Sulphate
do.
Sulphite, total
•__.._
do
Bleached
do_
Unbleached
.
„
do.
Soda..
do.
Production :f
Total, all grades.
do.
Groundwooddo.
Sulphate
do.
Sulphite, total.
do.
Bleached
do.
Unbleached
do.
Soda...
__
do_
Stocks, end of monthf:
Total, all grades
do
Groundwood
do.
Sulphate..
do.
Sulphite, total
do.
Bleached
do.
Unbleached
_do_
Soda
do.
Imports:
Chemical.
do.
Groundwood..
do
Price, sulphite, unbleached
dol. per 1001b..
550, 945
127, 483
191,148
177, 862
106, 527
71,335
54,452
463, 804
120,955
148, 729
150, 673
97,032
53, 641
43,447
483,154
120,403
159, 542
155,813
100, 809
55, 004
47,396
481, 745
120,190
157,116
156,131
98, 355
57,776
48,308
547, 611
121,877
191,916
179,037
106, 542
79,945
54, 781
452,394
111, 582
149,027
147,855
94,850
53,005
43,930
475,360
108,962
159, 702
158,870
100,910
57, 960
47,826
169,416
106,994
62,422
53,141
504, 627
132,914
161, 442
157,897
98, 008
59, 889
52, 374
511,019
134,039
158,782
161,912
99,946
61,966
56,286
526, 747
131,041
172,386
165, 192
100,255
64,937
58,128
504,031
122,003
160,859
165,613
99, 373
66, 240
55,556
563,062
138, 800
179,091
183, 588
116,301
67, 287
61, 583
548,147
137,217
183, 586
167,898
98, 003
69, 895
59, 446
570,846
139, 806
186, 648
184, 749
106, 231
78, 518
59, 643
464, 735
109,463
154,947
151,381
94,120
57,261
48,944
519,909
130, 383
167,030
170,089
105, 935
64,154
52, 407
501, 810
130, 436
161,604
159, 265
98, 402
60, 863
50,505
512,057
138,470
159,420
158,161
96,380
61,781
56,006
540,822
139,109
172,559
170,968
103,676
67, 292
58,186
513,703
130,067
161,343
166,958
104,713
62, 245
55,335
576,097
148,927
179,091
186, 766
115,184
71, 582
61, 313
566, 723
148,182
182, 673
176, 243
102, 514
73, 729
59, 625
580,880
152, 627
188,153
180, 217
103, 539
76, 678
59,883
114,083 107,266 100,707
52, 111 48,616 38, 646
10, 395
8,232
8,384
48, 387 46,529 49,478
32, 446 32, 304 32,369
15,941
14,225 17,109
3,190
4,199
85,310
29,280
6,203
45,170
28,565
16,605
4,657
77,656
22,742
4,784
45,999
27, 651
18,348
4,131
75, 722
20,600
4,985
47,317
28,047
19, 270
2,820
76,614
24,634
5,474
43.867
24.868
18,999
2,639
71,712
22,926
6,014
40,091
24, 246
15,845
2,681
78,586
27,970
6,435
41,640
28,489
13,151
2,541
87,820 101,036 106,876
34, 403 41, 284 49, 541
6,435
5,663
7, 022
44, 580 51, 571 47, 633
28,404 32, 807 30,182
16,176
18, 764 17, 451
2,518
2,402
2,680
116,096
55, 734
9,761
47, 628
32,446
15,182
2,973
207,444
25,628
1.93
28,183
1.94
215, 612 192, 788 214,115
20,735
26,333
17,093
2.63
2.33
3.01
170,038 121, 597 214,581
17, 296 22,029 24,062
3.34
3.75
3.63
269,146
22,079
3.65
226,392
27,508
3.75
222,320
19,850
1.93
529.035
137,945
201, 284 198.195
23,572 27,031
1.98
2.06
r
r
T
567,210
134,425
189,037
185,836
106, 433
79,403
57, 912
579,096
144, 233
191, 961
184,627
108,716
75,911
58, 320
PAPER
Total paper:
Paper, incl. newsprint and paperboard:
Production^
short toro..
846,434 833,038 843,417
864,309 956, 779 953, 283 944,049 1,102,273 rl,028,290 '1,010,852 1, 016,911
Paper, excl. newsprint and paperboard:
Orders, new
short tons..
466,482 428,549 459,373 560,150 505, 593 613,669 529,312 519,798 647,063 517,972 "•470,029
509, 322
Production
do
474,040 439,309 442,692 543, 763 462,837 547,958 508, 256 498,546 591,191 531,006 ' 523, 448
575,021
Shipments
do
480,156 426,957 449,087 538,340 457,044 563,997 515, 417 497,810 595,070 521,707 '507,459
567,483
Book paper:
Coated paper:
Orders, new
..do
13, 849 16,876 18,531
18,895 20,554 28, 287 28,119
26, 676 21,746
24, 709 23, 875 15,082
14, 459
Orders, unfilled, end of mo
do
4,940
6,657
6,780
7,407
11,116
6,634 12, 659 12,783
10, 855 12,016
5,319
9,257
7,907
Production
d o . . . - 17, 425 19,226 20,103
19,239 22,225 22, 761 26,835
27, 210 23,043
21, 465 22, 709 21,123
18, 563
Percent of potential capacity
77.3
66.3
91.0
77.7
83.4
69.4
94.0
98.5
83.4
103.0
94.5
93.5
84.6
Shipments
short tons.. 16, 557 18.885 20,387 18, 983 22,048 22, 531 28,952
27,939
22,863
21,188 23,103 20, 345
17,646
12, 615 12,878
Stocks, end of month
_do
12, 785 11,884
13,284 12,157 12,334 13,386
11,029
10, 230 10,041
10, 819
11, 456
Uncoated paper:
Orders, new
do
78,740 82,107 85,004 91,452 101,413 115, 477 127,834 114,643 111,112 131, 537 111,834 97, 981
91, 344
54, 212 33.058 33,831 34,208 34,270 54, 829 66,239 64,372 69, 703 82, 244 83, 565 76, 930
Orders, unfilled, end of mo
do
64, 540
Price, cased, machine finished, at mills
5.25
5.25
6.25
5.25
dol. per 100 lb._
5.25
5.38
5.50
5.75
5.75
6.25
5.75
6.13
6.25
Production.
short tons.. 99, 634 89, 210 93,988 95, 793 103,417 98, 939 112, 689 111,733 104,795 109, 260 116,969 111,959
101,288
73.4
87.9
83.2
Percent of potential capacity
_
86.2
76.0
83.5
90.6
84.3
95.7
1C2.6
94.0
98.3
94.8
Shipments
short tons— 94,012 86,040 92,611 94,141 101,648 98, 448 119,231 114,085 103,829 112, 741 111,634 108,828
99,168
94,490 87,036 88,970 94, 548 89, 724 92, 607 86,067
Stocks, end of month
do
80, 267 84,191
87,454
77, 743 83, 785 87, 658
Fine paper:
Orders, new._
do
37,073 31, 516 31,805 50,578 40,033
53, 679 48,620 44,638
06, 317 r 38, 703 r 32,613
38,999
Orders, unfilled, end of mo
..do
10,941
9,995 13,800 16,468 21,470 24, 778 23,960
35,132 33, 224 ' 28,450
26,280
9,684
Production
do
30,358 33, 626 30,625 47,416 37,988 48,112
43,482 44,516
53,898 r 43, 327 ' 40, 666
45, 368
Shipments
do
39,951 31,838 31,727 46,610 36, 610 48, 308 45, 632 45,050
53, 246 r 42,293 ' 39, 080
44, 324
Stocks, end of month
...do
62,957 85, 527 66,100 66, 771 68,325 67, 972 63,068 62, 534 59,947 59, 775 ' 66,123
Wrapping paper:
Orders, new__
do
167,815 141,436 159, 712 207, 062 170,910 230, 499 175, 286 180,618 220,843 "171,669 153,148
185, 604
Orders, unfilled, end of mo
do
74,750 77, 600 87, 212 95,934 116,625 153,811 145,838 151,786 164, 719 156,564 143, 532
123, 420
Production
do
163,688 147,142 150, 952 195,874 155, 605 196,998 171,170 166, 827 212, 608 '176, 880 176, 0P2
211,436
Shipments
do
167,586 140, 740 153, 243 199,369 151, 785 200,433 172, 644 169,767 215,170 ••177,970 169, 437
206, 864
Stocks, end of month
do
109,180 112,323 110, 704 108,163 111,912 110,612 108, 325 104, 241 102, 383 101, 838 104, 521
108,129
^See note marked "V on next page.
' Revised.
0 Comprises pulp used in the producing mills and shipments to the market.
tRevised series. Production of wood pulp, except soda pulp, for 1936 has been revised to conform with the industry totals reported by the U. S. Pulp Producers' Association for that year. For these items, consumption and shipments have been adjusted to the revised production figures by the Survey of Current Business. For the same
items, data on production and consumption and shipments for 1935 adjusted to census data for that year will appear in a subsequent issue. Pending publication of these
figures, data shown in monthly issues starting with March 1937 can be used in conjunction with earlier data shown in the 1936 Supplement without serious error. Figures
on stocks have not been adjusted through December 1936. All wood-pulp data except soda puip, starting w th January 1937 are based on the reports of 145 identical mills
(earlier months are for 162 mills) adjusted to compare with the figures for earlier periods. Data on soda pulp (production and consumption and shipments) have been adjusted
to the
1935 census by the Survey; earlier figures appeared in the 1936 Supplement.
52
Monthly statistics through December 1935, together with explanatory notes and references
to the sources of the data may be found in the
1936 Supplement to the Survey
SURVEY OF CURRENT BUSINESS
September 1937
1936
1937
July
July
1937
Decem- January FebruAugust SeptemOctober November
ber
ber
ary
March
April
June
May
PAPER AND PRINTING—Continued
PAPER—Continued
Newsprint:
Canada:
Exports
....short tons..
Production t
do
Shipments from millsf
do
Stocks, at mills, end of mot
do
United States:
Consumption by publishers
_do
Imports
do
Price, rolls, contract, destination (N. Y.
basis)
dol. per short ton..
Production^-..
short tons..
Shipments from mills
do
Stocks, end of month:
At mills
do
At publishers!
do
In transit to publishers!
do
Paperboard:
Consumption, waste paper
do
Orders, new
do
Orders, unfilled, end of mo
do
Productioni
do
Percent of capacity
Stocks of waste paper, end of month:
At mills
short tons..
In transit and unshipped purchases
short tons..
PAPER PRODUCTS
Abrasive paper and cloth, shipments:
Domestic
reams,.
Foreign
do
Paperboard shipping boxes:
Shipments, total
mills, of sq. ft..
Corrugated
do
Solid
fiber
do....
305,163
314.529
301, 850
79, 993
234, 050
272, 762
269, 929
73,960
257, 577
270,363
278, 529
65, 896
278,
269,
268,
65,
368
074
909
718
286,733
301, 096
307, 250
59, 439
295,833
286, 235
293, 539
51,986
286, 233
289,312
316, 723
24, 506
259,543
286,991
261,992
49, 505
222,945
275,532
251, 256
73,769
294,935
302,068
290,968
84,902
252, 790 294, 726
298, 678 309 210
311,584 313,414
72,223
69,357
180,966
302, 982
170,884
205, 704
168, 289
246, 186
175,811
238,317
203,198
260,135
223,813
249,153
198, 264
278, 991
183,106
238,426
199,997
204,689
197,956
270, 478
199, 355
263, 620
42.50
78, 205
79, 759
41.00
73, 361
74, 780
41.00
74, 338
72, 645
41.00
72, 206
75, 599
41.00
81,076
81,771
41.00
79, 848
80, 469
41.00
80, 048
81,910
42.50
79,3C2
75,046
42.50
72,072
74, 941
42.50
82, 576
79, 582
42.50 i 42.50
78,619 I 78,907
85,915 | 77,647
42. 50
78,500
76, 255
13,090
344, 256
52, 964
19,907
201, 731
48, 099
20,647
220,145
42, 309
16, 878
232, 204
42, 881
16,400
236, 743
42,106
15, 988
214, 568
56, 425
14, 239
251, 091
54, 294
18,673
257, 241
49,013
15,995
243,951
54,013
19,001
246,873
57, 071
12,406 i 12,045
258, 740 278, 740
59,427
49,612
14,944
298, 338
50, 550
274, 463
326. 334
90,391
344. 080
249,
304,
101,
299,
268, 770
332, 553
117,443
319,391
76.7
281. 046
353,197
135, 732
328, 519
79.1
306,874
357,783
138,830
359, 849
82.7
274, 332
308, 732
127,193
321, 624
79.6
279,068
350, 452
130,472
328, 773
75.6
295,554
407,716
221,409
365, 665
295,477
386, 781
9,36,011
373,431
90.0
339,242
453, 621
265, 575
428, 506
91.6
341,597
404,108
200, 833
418,665
92.8
287, 504
315,787
100,785
363, 390
80.2
219,042 | 207, 886
!
191,408
189,590
182,822
199, 404
196, 570
197,977
211,628 ! 234,239 Ir 257,185
0)
0)
0)
402
747
557
033
69.4
306, 646
• 311.017
' 311,824
67, 438
244, 030
279, 937
330, 2.>0
356,687
154,379
408, 497
90.7
188, 921
288, 291
82.0
0)
76, 209
8,498
PRINTING
Blank forms, new orders
thous. qfsets.. 91,805
Book publication, total
no. of editions-.
846
New books
do
! 741
New editions
do.-. !
105
Operations (productive activity) 1923 = 100_ !
Sales books, new orders
thous. of hooks. ' 16, 506
!
0)
211,295
0)
0)
69, 709
7, 306
76,191
10,176
79, 469
7,455
85, 824
9,377
2,249
1,994
255
2,698
2,382
317
2,809
2,485
324
2, 650
2,392
258
107, 837
723
575
!48
80
104.349
890
731
159
86
! 6,683
107,421
809
690
119
94
16.920
129,034
1,195
966
229
98
18,513
0)
69, 952
7,327
2,281 |
2,092
189
140, 638
841
732
109
101
16.166
0)
0)
74, 713
11,492
81, 945
6,294
80,294
9,972
90, 365
13,971
135, 451
10, 919
2,488
2, 276
212
2,308
2,074
234
2,428
2,195
233
3,018
2,712
306
2,778
2,506
271
166,970
1,074
868
206
98
19,139
106,944
781
694
87
99
16,959
I 0)
103, 862
9,104
2,549 i
2, 292
256
149,194 I
1,011 |
815
196
103
16, 057
129, 377 127, 262 123 341
889
885
945
724
740
810
161
149
14".
100
100
102
18.996
19,711
15 709
:0)
81,813
8,556
2, 632
2, 385
247
115, 141
089
580
109
95
16 OH 3
RUBBER AND RUBBER PRODUCTS
CRUDE AND SCRAP RUBBER
Crude:
Consumption, totalt X
long tons..
For tires and tubesj
do
Imports, total, including latex
do
Price, smoked sheets (N. Y.) dol. perlb_.
Shipments, world
long tons_.
Stocks, world, end of montht.--do
Afloat, total
_do
For United States
.do
London and Liverpool
do
British Malaya
do
United Statest
do...
Reclairaed rubber:t t
Consumption
do
Production
do
Stocks, end of month
do
Scrap rubber:
Consumption by reclaimers (quar.).._do
TIRES AND TUBES*
Pneumatic casings:
Production
thousands..
Shipments, total..
do
Domestic
do
Stocks, end of month
do
Inner tubes:
Production
_
__.do
Shipments, total
do
Domestic
do
Stocks, end of month
do
Raw material consumed:
Crude rubber. (See Crude rubber.)
Fabrics
thous. of lb_.
MISCELLANEOUS PRODUCTS
Bincle and double texture proofed fabrics:
Production
-thous. of yd__
Rubber and canvas footwear.X
Production, total
_
thous. of pairs..
Tennis
do
Waterproof
do
Shipments, total
do
Tennis
_.do
Waterproof
do
Shipments, domestic, total
do
Tennis
do
Waterproof.
_
_do
Stocks, total, end of month
do
Tennis
do
Waterproof ._
do
"43.414"
.189
111,000
441, 000
144, 000
75, 779
42,175
88. 046
167, 000
48, 250
38, 380
39,843
. 165
82, 355
519, 074
106,000
60, 343
113,386
63, 838
235, 850
46, 777
35, 823
41,788
. 163
70, 249
500, 520
99, 000
63, 597
108, 215
fi3, 13*
230,167
46, 449
35.093
50,033
.164
71,343
493, 585
96, 000
62, 240
103,962
60, 287
233,336
49, 637
36, 520
40, 965
.165
80, 552
486,159
106, 000
67,825
96,625
59, 534
224,000
50, 433
37, 215
38,414
.180
77,000
466,491
105,000
73, 691
88,781
60, 230
211,480
49, 754
37, 179
51, 382
200
79', 000
466, 576
103,000
56, 567
78, 462
62, 114
223, 000
48, 744
36, 777
43, 339
214
71, 000
454, 249
98, 000
55, 096
71, 062
78, 276
206, yn
50, 282
37, 030
44,715
.213
71, 000
445, 265
94,000
53,538
63,760
86, 478
201,027
54, 064
42, 638
40, 898
246
101, 000
447, 856
125.000
56, 994
52,077
82,802
187,977
51, 797
41, 479
43, 024
.234
90, 000
428, 249
124,000
72, 530
48. 748
77. 255
178, 246
11,924
16,241
19,597
12, 084
11,628
12,522
11,242
12, 124
13, 206
11,424
12, 221
13, 874
12, 892
13, 898
14,673
12, 302
13,540
15,643
13, 280
15, 031
19,000
13, 366
15, 129
19, 010
13, 485
15,192
19,017
14,801
14,458
18,839
15, 607
13, 884
14,010
14,612
15. 793
14, C47
14,414
1C, 052
14, 535
43, 650
33, 741
36, 347
ol,733
51, 798
37, 951
37, 902
43, 898
49, 635
.213
.193
87,000
95,000
r
413,134
433, 257
117,000
'125,000
".8 "42
57, 215
46, 628
43, 427
74, 478
93, 630
175,019
' 172,193
42, 398
5,465
5,744
5,678
7,746
6,014
4,976
4,911
7,793
4,981
3,836
3,768
9,005
5,125
4,081
4,012
10,089
4,969
4,232
4,162
10,814
5,
5,
4,
11,
311
016
926
114
4,
4,
4,
11,
980
509
421
377
5,246
4,371
4,276
12, 308
5,916
5,787
5,687
12,448
5, 730
5, 560
5,438
12, 629
5, 352
5, 375
5, 281
12,592
5, 339
5,389
5, 297
12,529
5,177
5,758
5,544
7,725
5,039
5,136
5,093
7,621
5,161
4,231
4,031
8,627
5,397
4,108
4, 055
9,977
4,739
3,995
3,948
10,732
5,
4,
4,
10
121
819
754
985
4,
4,
4,
11,
801
391
327
100
5,091
4,536
4,469
11, 734
5,823
5,571
5,499
11, 904
5,627
5,325
5,242
12,218
4,956
5, 028
4, 959
12,107
4,716
5, 027
4, 957
11,746
22, 532
21,175
20,974
21, 690
21,744
22, 649
22, 207
23, 426
26, 542
24, 680
23, 268
23,033
3,667
4,145
4,849
4,650
3,672
3 953
3 884
4,342
5, 255
4,626
3,991 ;
4,571
1,244
3,327
5,431
2,034
3, 397
5,407
2,018
3,390
5,588
1,377
4,212
6,877
1,443
5,435
6,851
1,420
5,431
16, 626
3,615
13.010
6,003
1,150
4,853
8,063
1,481
6,582
8,039
1,465
6,574
14, 567
3,286
11.281
6,751
1,280
5,471
7,897
796
7,102
7,844
751
7,093
13,430
3,780
9,651
6,496
1,461
5,035
6,502
588
5,914
6,464
557
5,908
13,425
4,654
8,771
7 599
1 951
5,648
7 409
1 295
6 114
7 373
1 265
6 108
13 615
5 310
8 305
5.898
2 418
3 480
6 018
2 639
3 379
5 954
2 603
3 351
13 454
5 108
8 346
5, 935
3,241
2,694
4,520
3,308
1,212
4,486
3,291
1, 195
14,869
5,041
9,829
7,595
4,269
3,327
5,439
4,361
1,078
5,377
4,309
1,068
7,197
4,053
3,144
5,027
3,784
1,243
5,027
3,784
1,243
19,167
5,213
13, 954
6,734 !
3,635 j
3, 098
4, 784
3,778
1,006 !
4, 735 j
3,736 j
999 !
21,116 !
17,962
3, 729
14, 233
16, 998
4,945 '
12, 053
5,071 I
16.045 I
6, 455
2, 765
3, 690
4,788
2,947
1,840
4,706
2, 874
1,832
22,814
4, 895
17,919
r
l
Revised.
Data no longer collected by the Bureau of the Census.
JFor data raised to industry totals, see the 1936 Supplement. Figures shown here are as reported; these were also given in the 1936 Supplement.
f Revised series. Data on total rubber consumption, world and United States stocks of rubber, consumption, production and stocks of reclaimed rubber revised for 1935
and 1936. Revisions not shown in the May 1937 Survey, will appear in a subsequent issue. Data for newsprint (Canada), except exports, revised for 1936. See p. 52 of the
April 1937 issue. Newsprint stocks at publishers and in transit to publishers revised back to 1926. Revisions not shown on p. 52 of the April 1937 Survey will be shown ina
subsequent issue.
!Data are raised to industry totals; see the note explaining these series in the 1936 Supplement.
SURVEY OF CURRENT BUSINESS
September 1937
Monthly statistics through December 1935, together with explanatory notes and references
to the sources of the data may be found in the
1936 Supplement to the Survey
July
1937
1936
1937
July
Decem- January
October NovemAugust September
ber
ber
February
March
April
May
June
STONE, CLAY, AND GLASS PRODUCTS
BRICK
Common brick:
Price, wholesale, composite, f. o. b. plant
dol. per thous.
Shipments
thous. of brick.
Stocks, end of month
...do.-.
Face brick:*
Shipments. _.
do—
Stocks, end of month
do....
Vitrified paving brick:
Shipments
do...
Stocks, end of month
do.-_
12,125
11.788
189,104
433,730
11. 777
163, 246
450,194
11.818
11.889
141, 080 108,169
456, 543 444,247
11.941
113,598
414,723
11.915
163,801
386,919
12.030
191,040
385,276
12.103
191, 275
401,852
12.110
185, 769
434, 942
46,991
58, 797 60,877
269,206 269, 685 276,793
36, 970 30,042
289, 657 299,122
29,094
296,411
46, 667
297, 654
58. 214
297,426
' 62, 086
298,114
61, 248
298,916
3,146
61,369
3,257
59,133
4,038
57, 691
6,716
56, 727
6,877
60, 271
9,431
61,114
1.667
6,616
30.4
4,689
24, 394
6,160
1.667
5,837
29.6
5,163
25,059
1.667
8,443
38.6
7,879
'25,622
7,554
1.667
10, 402
48.8
' 10, 272
r 25, 751
7, 544
1.667
11, 634
53.2
11,890
'25,493
7,540
1.667
11,163
52.8
r
12,645
' 24, 011
7,370
11.779
170,135
398,870
11.775
11.813
172, 748 173,723
417,660 419,872
63,049
264,335
58,946
270,048
10,920
68,380
8,724
70,683
10, 800
71,400
11,614
68, 319
9,738
64,034
5,099
62, 554
1.667
11, 503
51.3
11, 823
18,975
5,079
1.667
12, 599
56.2
12, 624
18, 920
4,931
1.667
12, 347
57.1
12, 619
18, 738
4,838
1.667
12, 470
56.0
13,089
18,079
4,980
1.667
10,977
50.9
8,942
20,117
5,180
1.667
8,971
40.3
6,246
22, 441
5, 564
PORTLAND CEMENT
Price, wholesale, composite
dol. per bbl.
Production
thous. of bbL
Percent of capacity
Shipments
thous. of bbL
Stocks, finished, end of month
do—
Stocks, clinker, end of month
do--.
1.667
11, 597
53.1
12, 237
23, 371
6,895
CLAY PRODUCTS
Bathroom accessories:
Production
Shipments
Stocks, end of month
number of pieces. 1,195.972
do
1,153,450
do... 374, 334
722, 763 677,152 792, 220 938,135 973,750
716, 715 650, 883 747. 459 908, 603 964, 479
431, 774 428,162 441,989 434,296 427, 509
726,183 793,568 652, 251 1.077,319
679, 623 768, 774 633, 059 1,092,424
442, 507 416, 742 415, 321 397,351
956, 547 1,161, 382 1,., 071,120
885, 696 1,117, 265 1, 005, 581
422, 837 395, 303
414, 774
GLASS PRODUCTS
Qlass containers:
Production
thous. of gross..
Percent of capacity
Shipments
_
do
Stocks, end of month
thous. of gross
Illuminating glassware:
Orders:
New and contract
number of turns..
Unfilled, end of month
do
Production
_ do—
Shipments
do—
Stocks, end of month
..do...
Plate glass, production..
thous. of sq. ft
4,978
86.9
4,647
7,259
3,844
67.2
4,179
7,488
4,403
77.0
4.346
7, 422
3,994
72.8
4,345
7,015
4,250
72.2
4,310
3,880
74.2
3,611
7,006
4,033
71.2
3,675
7,291
4,039
71.3
3,881
7,393
3,880
73.8
3,767
7,459
4,198
71.0
4,461
7,145
4, 543
79.7
4,375
7, 243
4,844
88.4
4,795
7,215
4,989
87.1
5,152
6,981
2,266
2,692
2,031
2,289
5,038
15, 345
2,356
2,474
2,138
1,990
4,135
16. 428
2,594
2,620
2,154
2,374
3,123
18, 710
2,899
2,783
2,591
2.684
3,056
19. 553
3,433
3,057
3,106
3,095
3,103
20,843
3,150
3,102
3, C87
2,980
3,236
13, 084
2,926
2,953
3,354
3,075
3.421
7,371
3,515
3,518
3,193
2,830
3,739
6,373
2,473
2,894
2,849
2.688
3,935
18, 676
2,711
2,503
3,369
3,119
4,140
20, 743
2,885
2,621
3,278
2,864
4,564
21, 956
2,907
2,848
3,152
2,658
4, 965
19, 437
2,681
2,870
2,947
2, 652
5,260
19, 392
GYPSUM (QUARTERLY)
Crude:
Imports
short tons..
Production
do
Shipments.do
Calcined, production.
.do
Calcined products, shipments:
Board, plaster, and lath
thous. of sq. ft..
Board, wall
do—
Cement, Keene's
short tons..
Plasters, neat, wood fiber, sanded gauging
finish, etc
short tons..
For pottery, terra cotta, plate glass, mixing
plants, etc...
.short tons..
Tile, partition
thous. of sq. ft..
523, 389
26.
606,
148,
540,
542
523
756
500
299, 655
897,114
256,864
664, 616
134, 962
82, 363
7,948
149,337
' 88, 382
'9,181
187,896
107, 330
10, 563
340,463
'355,199
446,885
47. 733
4,413
'51,974
' 4, 964
63, 427
4,273
251,668
863, 234
265, 849
617, 487
248,109
723, 319
147, 818
83, 810
9,776
52, 692
4,946
TERRA COTTA
Orders, new:
Quantity
Value.
short tons.
thous. of dol.
1,105
125
975
110
1,507
189
1,120
134
982
120
1,492
128
1,372
171
819
103
3,645
248
1,060
127
1, 750
223
1,077
140
916
128
90,521
95,106
303,043
89,264
309,960
92, 643
315,242
71,919
333,108
62,418
344,131
51,338
354, 608
51, 082
354, 210
79,793
358J 256
100;381
351,509
96, 246
359, 881
85, 060
368, 866
TILE
HolJow building tile:
Shipments
_
Stocks, end of month
short tons_
do_._
TEXTILE PRODUCTS
CLOTHING
Hosiery:
Production
thous. of dozen pairs..
Shipments
do
Stocks, end of month.do
9,302
9, 381
23, 659
9,983
9,322
21,182
10,111
11,156
20,344
10,828
12,117
19,263
11, 566
12, 235
18,801
10,716
10, 846
18,879
11, 280
11,054
19, 312
r
11,364
9,845
20,974
COTTON
Consumption
thous. of bales..
583
607
574
646
627
630
693
678
Exports (excluding linters)
do
124
156
182
861
690
538
570
594
Ginnings (total crop to end of month indicated)
thous. of bales..
143
1,374
11,494
11, 705 11,957
6,031
Imports (excluding linters)
do
19
13
16
15
Prices:
To producer
dol. per lb._
.124
.122
.126
.122
.125
.120
.123
.124
Wholesale, middling (New York)
do
.124
.132
.123
.123
.123
.122
.128
.130
Production (crop estimate)
thous. of bales..
& 12, 399
Receipts into sight
_
do
175
201
'2,950
'3, 451 r 2, 245 1,190
'695
Stocks, end of month:
Domestic, total
do
4,098
4,834
9,431
10, 211
7,655
9,790
8,846
Mills.
..do....
1,290
897
752
1,403
1,792
849
2,001
2,066
Warehouses
do
2,808
3,938
4,337
8,418
8,028
6,806
6,779
7,788
4,361
World visible supply, total
do
4,899
4,748
8,151
7,679
6,378
7,812
8,002
2, 549
American cotton
..do
3,091
6, 271
2,986
5,845
5, 525
4,578
6,038
f
Revised.
•New series. Data on face brick shipments and stocks, compiled by the U. S. Department of Commerce, Bureau of the
prior to the January 1937 issue. Data beginning January 1934 are shown in table 34 p. 20 of the August 1937 issue.
» Total crop.
11,311
11, 547 10, 920
12,116
9,759
11,474
12, 555 11, 376
• 20,954 • 20,659 • 20, 972 ' 22, 277
779
463
23
12,130
45
.124
.131
.135
.145
r
11, 254
9,936
23, 738
681
230
719
373
669
324
31
36
.137
.143
.129
.133
.124
.127
'622
'697
'519
'327
'295
8,022
2,056
5,966
7,457
4,984
7,117
2,080
5,037
6,787
4,348
6,201
1, 987
4,214
6, 294
3,858
5,403
1, 815
3,588
5, 596
3,361
4,642
1, 551
3, 092
4,904
2,837
Census, supersede those shown in the Survey
54
SURVEY OF CURRENT BUSINESS
Monthly statistics through December 1935, together with explanatory notes and references
to the sources of the data, may be found in the
1936 Supplement to the Survey
1937
July
September 1937
1936
July
1937
Septem- October Novem- Decem- January
August
ber
ber
ber
February
March
April | May
16,320
23,931
June
TEXTILE PRODUCTS—Continued
COTTON MANUFACTURES
Cotton cloth:
Exports
thous. of sq. yd._ 14.418
10,
576
Imports
do
Prices, wholesale:
.063
Print cloth, 64 x 60__
dol. per yd..
.081
Sheeting, brown, 4 x 4
do
Finished cotton cloth: t
Production:
Bleached, plain
thous. of yd.. 118,956
355
Dyed, colors
do_. 88,
6,959
Dyed, black.
_
do
86, 089
Printed
do
Stocks, end of month:
Bleached, dyed colors and dyed black
thous. of yd.. 278,425
120,930
Printed
do
Spindle activity:
Active spindles
-thousands.. 24,392
7,665
Active spindle hrs., total
mills, of hrs_.
284
Average per spindle in place
hours._
121.9
Operations
pet. of capacity__
Cotton yarn:
Prices, wholesale:
.293
22/1, cones (Boston)..
dol. per lb._
.439
40/1, southern spinning...
.do
RAYON AND SILK
Rayon:
Deliveries, index:
505
Unadjusted
1923-25=100664
Adjusted
do
3-mo. moving average
do
Imports
thous. of lb__
1,788
Price, wholesale, 150 denier, " A " grade
(N. Y.)
dol. per l b .63
Stocks, producers, end of mo.
0.2
no. of months' supply—
Silk:
Deliveries (consumption)
bales.. 31,399
4,015
Imports, raw
thous. of lb._
Price, wholesale, raw, Japanese, 13-15 (N. Y.)
1.940
dol. per lb—
Stocks, end of month:
Total visible supplyt
bales.. 141,094
41,494
United States (warehouses)
do
14, 387
7,098
.060
.075
15, 359
8,034
12, 843
9,648
13,750
15,123
14,502
15, 591
15, 892
19, 278
20,339
22, 257
.059
.072
24,412
5,802
.059
.075
.077
.080
.080
.081
.076
.077
.079
.089
143, 808
123, 516
9,135
106,182
145,397
132, 642
11, 082
109,283
148,115
139, 298
7,740
111,118
167,411
147,464
10, 437
128,227
148,811
124,446
7,107
122, 237
169, 520
140, 508
8,416
134,003
158, 507
136,493
7,595
135,817
151, 363
122,232
6,415
120,758
166, 600
135,560
6,677
130,393
155, 279
125,154
7,172
120,262
184, 649
107,294
208,818
105,691
237, 240
113, 614
231, 751
117,209
243, 369
115,491
253,413
122,114
248,338
115,428
250,148
114, 852
260,013
113,050
23, 252
7,855
279
119.8
23, 434
7,573
270
115.8
23, 514
23,806
7,997
125.8
23,638
8,328
298
123.3
129.9
24,090
8,679
313
134.5
24,365
8,587
315
137.7
24, 536
8,353
308
144.8
24, 639
9,698
359
148.3
.295
.426
.301
.430
.303
.444
.304
.448
.311
.452
.341
.483
.347
.513
.344
.482
.364
.482
.363
.490
.336
.479
.311
.452
614
808
672
1,242
633
537
387
483
504
475
494
1,113
538
611
583
562
662
607
547
561
543
476
500
517
488
488
520
500
513
530
552
566
' 518
1,513
1,540
1,494
2,095
2,467
4,240
2, 9 1 7
.60
.60
.60
.60
.60
.63
.63
0.1
41,627
7,275
0.1
44,198
7,413
2.051
0.1
38,484
6,472
18, 527
4,705
594
2,441
2,072
.60
0.7
0.4
36,658
4,753
42.016
6,315
0.3
0.3
45. 709
8,900
43, 093
6,953
0.2
40, 401
7,214
0.1
39,934
5,026
17, 380
15,090
15.554
10, 743
.009
.090
.065
.085
140, 065
108, 888
104] 110
119,672
•32,190
6, 5 5 5
38,294
262,864 ! 276,273
119,571 125, 754
280, 983
129,359
.076 ;
.095 I
24. 728
9,165
340
146.7
0.1
40, 561
5, 7 4 2
24, 6 5 9 1 24, 5 5 6
8,5 4 8 ' 8, 5 9 5
317
319
137. 7
37.0
621
2,389
.63
0.1
0.1
35,278 !
5,148 I
35, 783
5,521
1.848 \
1.827
1.714
1.791
1.756
1.935
1.993
2.012
1.975
145,439
30,139
156,125
29,825
155, 253
29, 553
157, 500
30,300
165,713
40, 713
180,114
44,414
160,944
50, 544
152,808
49,408
146,331
41,731
142, 382
40, 882
20,510
7, 903
19, 302
24,785
9,058
16,079
23,030
8,539
17,546
21,477
9,207
19,639
25,861
11,880
23,550
23,927
9,937
25,548
27,851
11,355
29,037
28,814
12,802
46,890
25,722
12,814
46,292
26,328
12, 511
48, 528
12,842
38,201
84
03
106
97
109
123
116
123
124
113 i
50
32
73
47
••38
69
56
43
73
46
72
64
42
82
67
52
94
64
56
97
72
59
100
74
58
97
68 I
65
45
89
79
57
r
96
83
100
92
1.08
.46
ioo ;
82 !
i
1.04
.42
93
73
1.07
.50
104
87
1.05
.45
2.005
2.030
2.079
2.079
1.188
1.188
1.207
1.213 '
1.213
1.50
38, 618
2,407
36,212
1.46
34, 730
7,745
26,985
1.45
25, 322
10, 697
14, 625
37,978 !
23, 340
14,638
1.43
53,149
41,315
11, 833
140,802 I 130, 256
41,302 ! 45, 556
WOOL
Consumption of scoured wool: 1
Apparel class
thous. of lb_.
Carpet class
do—
Imports, unmanufactured
do—
Operations, machinery activity:
Combs
percent of active hours to total reported..
Looms:
Carpet and rug.
_
do—
Narrow
do—
Broad
do
Spinning spindles:
Woolen
do__Worsted
do___.
Prices, wholesale:
Raw, territory, fine, scoured
dol. per lb..
Raw, Ohio and Penn.,
fleeces
do—
Suiting, unfinished worsted, 13 oz. (at
factory)
-dol. per yd_.
Women's dress goods, French serge, 54" (at
mill)
dol. per yd_.
Worsted yarn, 32's, crossbred stock (Boston)
dol. per lb_.
Receipts at Boston, total
thous. of lb_.
Domestic
do
Foreign
do
Stocks, scoured basis, end of quarter, total
thous. of l b Woolen, total
do
Domestic
do—
Foreign
do—
Worsted, total
do
Domestic
do—
Foreign
do—
1.00
• 43
91
'61
.89
.39
97
68
.89
65
.89
.38
90
74
.90
.39
1.06
.43
.52
2.079
1.745
1.634
1.634
1.652
1.213
1.114
1.114
1.074
1.064
1.101
1.139
1.41
38,904
36,186
2,718
1.29
66, 708
64, 300
2,408
1.28
21, 694
20,101
1,592
1.26
16,156
13,153
3,004
1.25
15,478
12,060
3,418
1.34
20, 280
15,515
4,766
1.47
18,911
6,139
12,772
1.782
126, 846
44, 574
35,350
9,224
82, 272
65,161
17, 111
1.11
1.955
82
••101
1.00
.43
2.079
i
1.151
129,204
45,763
35, 223
10,540
83,441
44,484
38,957
20,045
9,571
28,518
52 ]
93 !
1.955
1.49
28,602
5,126
23,476
22, 862
10,350
29,990
120,526
46,315
31, 751
14, 564
74, 211
26, 940
47, 271
141, 850
48, 234
33,039
15.195
93,616
64,840
28,776
MISCELLANEOUS PRODUCTS
Buttons, fresh-water pearl:
Production
pet. of capacity..
Stocks, end of month
thous. of gross-.
Fur, sales by dealers
.-thous. of doL.
Pyroxylin-coated textiles (artificial leather):
Orders, unfilled, end of mo.thous. linear yd-.
Pyroxylin spread
thous. of lb_
Shipments, billed
thous. linear yd.
30.5
7,002
v 3,007
42.6
7,690
3,433
55.2
7,660
3,575
56.0
7,550
2,808
61.0
7,461
2,297
62.2
7,395
2,850
66.3
7,349
3,941
58.4
6,725
64.7
6,612
4,444
64.1
6,465
5,228
63.2
6,505
4,839
60.4
6,746
4,855
49.0
7,002
' 3, 223
3,024
4,317
4,121
2,460
4,686
4,501
2,612
5,375
4,972
2,668
6,087
5,232
2,410
6,081
5,408
2,684
5,321
5,094
3,633
5,648
5,495
4,110
5,965
5,618
4,731
6,498
5,806
5,167
7,803
7,412
4,414
7,156
6,766
2,876
5,555
5,727
2,886
4,958
5,018
p Preliminary.
* Revised.
tRevised series. For revised data on total visible supply of silk for period July 1930-Decembcr 1936, see table 11, p. 20, of the February 1937 issue. Data on finished
cotton cloth, revised beginning 1934: see table 31, p. 19 of the August 1937 issue.
1 Data for July and October 1936, January, April, and July, 1937 are for 5 weeks; other months, 4 weeks.
SURVEY OF CURRENT BUSINESS
September 1937
Monthly statistics through December 1935, together with explanatory notes and references
to the sources of the data may be found in
the 1936 Supplement to the Survey
1937
July
1937
1936
July
Decem- January
October NovemAugust September
ber
ber
February
March
April
May
June
TRANSPORTATION EQUIPMENT
AIRPLANES
Production, totalf
Commercial (licensed)f-Military (deliveries)f
For exportf
-
260
45
61
212
124
68
20
247
120
4,545
3,367
3,414
2,335
3,514
2,153
22, 525
12, 714
9,811
15,728
8,323
7,405
10,939
4,564
6,375
263
136
59
number.
do__.
do__.
..do...
207
99
76
32
267
107
05
65
'209
125
r
38
46
'181
••112
34
35
'182
'108
33
41
244
144
47
53
359
257
54
448
337
54
57
2,886
1,822
5,132
4,715
3,904
2,772
5,250
3,330
4,424
2,339
7,078
5,040
5,739
3,932
5, 047
3,636
6,799
4,758
16,720
9,894
27,428
20,032
35,289
24,788
10, 501
32,691
20,099
12,592
27,528
17,014
10,514
33,762
22,633
11,129
35, 082
22,827
12, 255
38, 270
23,447
14,823
33, 587
18,408
15,179
168,685 140,436 122,158 100,696
112, 795 91, 206 76,563 58,486
54,980 48, 368 44, 768 41,580
910
828
861
630
162,404 127,032 55,341
72,086
107,837
70, 572
36, 598
667
129,829
141,036
94, 075
46,055
906
180.442
102,021
61,437
40,045
539
154,260
98,437
55,421
42,528
488
123,118
163,891
102,499
60, 665
727
193,721
171, 842
105,039
66, 077
726
176, 572
181, 021
113,185
67, 062
774
188,371
184, 397
114,195
69,432
770
175, 215
AUTOMOBILES
Exports:
Canada:
Assembled, total
number8,097
Passenger cars
do
5,478
United States:
Assembled, total
do
34, 333
Passenger cars.
do
19, 275
Trucks
do...
15,158
Financing:
Retail purchasers, total
thous. of dol. 165,438
New cars
do
102, 919
Used cars...
d o — 61,845
Unclassified
do
674
Wholesale (mfrs. to dealers)—.
do
167.509
Fire-extinguishing equipment, shipments:
Motor-vehicle apparatus
number.
79
Hand-type
do
59,951
Production:
Automobiles:
Canada, total
do
17,941
Passenger carsf
do
12,513
United States, totalf.
do
438,834
Passenger carsf
do
360,275
78, 559
Trucksf
do...
1,702
Automobile rims
thous. of rims.
Registrations:
New passenger cars
number. '357, 531
New commercial cars
do
v 59,451
Sales (General Motors Corporation):
To consumers in U. S
..do
163,818
To dealers, total.__
_
do
226,681
To U. 8. dealers.d o . . . 187,869
Accessories and parts:
Shipments, combined index.. Jan. 1925—100.
148
Accessories for original equip
do
153
Accessories to wholesalers
do
116
Replacement parts
do
154
Service equipment
do
127
67
38,560
69
36,573
59
31,105
64
34,309
60
31, 440
71
35,106
50
39,001
58
39,654
85
41,869
74
49, 638
72
44,162
80
59, 629
10, 475
4,660
4,655
7,901
2,789
2,223
440, 731 271, 274 135,165
371,922 209, 351 90,101
61,923 45,064
1,716
1,104
5,361
4,448
224,688
190,242
34,446
1,847
10,812
10, 086
394,987
341,085
53,902
2,173
20,248
15,957
498, 710
425, 365
73,345
1,942
19,583
14,697
380, 051
309, 637
70,414
2,124
19,707
14,173
363, 991
296,636
67,355
2,022
24,901
19,127
494, 276
403,879
90,397
2,166
17, 081
12,927
536, 334
439, 980
96, 354
2,270
23,458
17,980
516,899
425,432
91,467
2,190
23, 841
17, 919
497, 298
411,394
85, 904
2,142
357,490
63,695
262,912
59, 222
54,611
171,319
41,207
223, 560
30,222
327,303
42, 205
280, 615
47, 609
214,973
41,815
363,573
60,291
385,277
67, 884
391, 697
65, 857
360, 236
58, 628
163,459 133,804
204,693 121,943
177, 436 99, 775
85, 201
19, 288
4,669
44, 274
90, 764
69,334
155, 552
191,720
156,041
173,472
239,114
197,065
92,998
103,668
70,901
51,600
74, 567
49,674
196,095
260,965
216,606
198,146
238, 377
199,532
178, 521
216, 654
180, 085
153,868
203,139
162, 390
114
108
98
153
105
138
144
99
158
109
150
167
96
139
103
164
198
83
113
91
154
178
93
116
99
152
166
124
131
106
157
174
96
134
139
178
199
92
155
160
171, 586
1,759
217, 243
12.5
16,579
10,974
5,605
170,410
1,745
205,146
11.9
23,421
17,755
5,666
170,109
1,741
205,500
11.9
33,608
27,414
6,194
169,887
1,738
201,960
11.7
39,729
31, 214
8,515
169,682
1,733
187,227
11.0
44,708
34,314
10,394
169, 665
1,732
188,489
11. 1
46,197
35, 814
10,383
169, 839
1,731
192, 286
11.3
44,397
31,802
12, 595
169, 882
1,729
184, 313
10.9
41,895
29, 577
12,318
2,173
44,208
7,782
17.6
58
157
111
102
2,167
44,035
7,350
16.7
57
250
297
279
18
2,166
43,981
7,228
16.5
95
119
362
339
23
2,164
43,875
7,142
16.3
30
132
375
352
23
2,162
43,790
7,083
16.2
39
126
359
334
25
2,161
43,766
6,956
15.9
74
96
345
311
34
2,159
43, 700
6,787
15.5
62
126
329
288
41
2,160
43,673
6,676
15.3
67
94
296
259
37
136
145
88
148
109
110
108
75
147
106
181
202
103
152
157 j
174
190
99
167
154
RAILWAY EQUIPMENT
(Association of American Railroads)
Freight cars owned & on order, end of mo.:
Owned:
Capacity.
mills, of lb. 170, 093 172,033 171,934 171,700 171,710
1,769
Number
thousands.
1,767
1,730
1,762
1,763
In bad order
number. 186,225 258,198 256,903 241, 573 226,095
Percent in bad order
10.9
14.7
14.8
13.0
13.9
Orders, unfilled
cars.
37,411
24, 373 20,530 18,434
13, 291
Equipment manufacturers
do
23, 952 15,092 12,924
11, 787
7,251
In railroad shops
do
9,281
13,459
7,606
6,647
6,040
Locomotives owned and on order, end of mo.:
Owned:
2,185
2,182
Tractive effort.
mills, of lb_.
2,159
2,179
2,176
43, 614 44, 682 44, 564 44,451
Number
„
44, 314
Awaiting classified repairs
number6,406
8,906
8,736
8,369
7,929
Percent of total
14.7
19.9
19.6
18.8
17.9
82
Installed
number..
60
53
106
57
143
Retired
_
.do....
124
171
215
223
283
Orders, unfilled
do
65
43
50
67
248
Equipment manufacturers
do
57
35
44
64
35
In railroad shops
do
8
3
Passenger cars:
Owned by railroads
do
39, 705
Unfilled orders—
do
183
(U. S. Bureau of the Census)
Locomotives:
Orders, unfilled, end of mo., total
Domestic
Electric.
Steam
__
Shipments, domestic, total
Electric
_
Steam
Industrial electric (quarterly):
Shipments, total
Mining use
do
do
do
do
do
do
do
335
295
41
254
38
5
33
115
112
37
75
12
106
101
35
66
18
2
16
do
do
113
102
39
63
13
2
11
125
117
36
81
7
4
39,932
177
330
321
34
287
9
79
79
368
364
31
333
21
3
18
39, 737
403
387
384
30
354
16
3
13
416
412
31
381
9
0
9
109
104
417
415
33
382
28
5
23
39, 582
424
403
382
28
354
47
5
42
368
347
26
321
43
2
41
92
80
372
331
46
285
38
1
37
142
135
(American Railway Car Institute)
Shipments:
Freight cars, total
Domestic
Passenger cars, total__
Domestic..New orders:
Freight cars
Locomotives
Passenger cars
do
do
do
do
6,401
do..
do..
do..
1,030
3
14
99
1,930
1,924
0
0
3,854
3,804
2
2
4,964
4,963
1
1
8,205
8,205
40
40
3,799
3,799
16
16
3,513
3,483
12
12
2,846
2,766
2
2
2,644
2,615
28
28
5,541
5,520
3
3
6,711
6,711
3
3
6,030
6,030
6
5,720
5,705
73
73
4,469
9
34
3,225
3
0
3,100
24
0
1,310
22
5
1,550
174
50
17, 230
88
34
10,881
46
70
10,532
33
154
6,200
29
162
13, 046
84
52
3,903
14
8
528
22
10
(Railway Age)
p Preliminary.
' Revised.
fRevised series. For 1936 revisions for airplane production see p. 55 of the March 1937 issue, for automobile production for the United States for 1936, p. 55 of the
June 1937 issue, and for Canadian production of passenger cars for 1936, p . 55 of the August 1937 issue.
56
SURVEY OF CURRENT BUSINESS
Monthly statistics through December 1935, together with explanatory notes and references
to the sources of the data may be found in the
1936 Supplement to the Survey
1936
1937
July
September 1937
1937
Decem- January
October NovemAugust September
ber
ber
July
February
March
April
May
June
TRANSPORTATION EQUIPMENT—Continued
RAILWAY EQUIPMENT—Continued
(U. S. Bureau of Foreign and Domestic Commerce)
Exports of locomotives, total
number,.
Electric.
do
Steam
do
3
0
3
2
0
2
11
0
11
3
0
3
142
131
11
141
135
6
162
156
6
162
158
4
INDUSTRIAL ELECTRIC TRUCKS
AND TRACTORS
Shipments, total
number..
Domestic
--do—
Exports
--do—
SHIPBUILDING
United States:
Vessels under construction, all types
thous. gross tons..
Steam and motor
_
do
Unrigged
...do
Vessels launched, all types
gross tons..
Powered:
Steam
do
Motor
--do
Unrigged
do
Steel...
do
Vessels officially numbered, all types
gross tons..
Steel
.do....
World (quarterly):
Launched:
Number
ships..
Tonnage
thous. gross tons.Under construction:
Number...'.
ships-.
Tonnage...
-thous. gross tons..
164
158
125
115
10
113
110
3
124
113
11
112
101
11
129
122
7
111
103
152
146
153
149
4
1
23, 738
14, 306
213
132
81
3,911
221
169
52
210
159
51
23, 282
201
151
50
24,007
223
153
70
12, 298
248
180
68
24, 048
237
163
73
22,100
281
190
91
323
225
98
4,060
0
475
3.436
3.436
0
1,441
8. 558
9,758
7, 451
810
15, 746
24, 007
9,874
250
16, 614
12, 098
7,137
24, 048
17, 571
0
4,529
22,100
0
0
4,060
4,060
15.949
11.407
14,118
3,992
9, 300
0
13. 982
23. 282
5,953
2, 857
44, 091
33, 423
31.871
22, 607
44, 737
14,879
36,591
20,791
66, 628
17, 557
j
;
2. 174
297
258
516
253
684
618
2,251
581
2,111
18, 018
342
243
99
7,178
380
276
103
8,675
366
266
99
15, 014
0
10, 017
8,001
17, 793
0
140
7,038
7,178
725 I
0 |
7,950
8,675 I
0
10, 146
4,868
15,014
186,673
24, 765
54,020
10,022
17, 308
6,876
54, 693
20, 798
195
479
269
720
703
2,452
815
2,883
CANADIAN STATISTICS
Physical volume of business:f
Combined index
_.1926=100__
126. 5
Industrial production:
130.9
Combined index
do
48.7
Construction
do
233. 7
Electric power
do
127.2
Manufacturing
do
139.2
Forestry
_
_
do
215. 3
Mining
...do
Distribution:
113.6
Combined index
do
85.8
Carloadings
do
108.1
Exports (volume)
.do
97. 5
Imports (volume)..
do
133.8
Trade employment-.
do
Agricultural marketings:
45.7
Combined index
do
26.6
Grain..
do
131.0
Livestock
do
Commodity prices:
83.0
Cost of living--.
-do
Wholesale prices
do
87.5
Employment (first of month):
119. 1
Combined index...
do
128.5
Construction and maintenance
do
119.0
Manufacturing
do
153.6
Mining
do
137.5
Service.....
-do
133.4
Trade
--do
89.4
Transportation
--do
Finance:
Banking:
2.721
Bank debits
mills, of dol—
73.1
Interest rates
1926=100Commercial failures
...number—
Life insurance, new paid for ordinary*
thous. of dol— 32, 364
Security issues and prices:
109, 763
New bond issues, total
do
3.50
Bond yields.
...percent..
133.0
Coramon stock prices
__1926=100__
Foreign trade:
Exports, total
thous. of dol__ 100,142
71, 996
Imports
do
Exports:
8,603
Wheat
_,thous. of bu__
335
Wheat
flour
thous. of bbl_.
Railways:
219
Carloading
thous. of cars..
Financial results'.
Operating revenues
thous. of dol__
Operating expenses
do
Operating income
do —
Operating results:
Freight carried 1 mile
mills, of tons—
Passengers carried 1 mile...mills, of pass__
Production:
Electrical energy, central stations:
2. 188
mills, of kw.-hr_.
80
Pig iron
-thous. of long tons—
123
Steel ingots and castings
do
1,087
Wheat
flour..
thous. of bbl—
• Revised.
113. 5
120.0
121.5
118.0
118.4
116.9
115.0
118.7
124.0 ! 122.0
126.0
115.8
37.9
212.4
114.8
121.9
180.8
123.9
44.5
211.0
126.5
12S. 2
171.7
125.5
44.0
216.3
129.0
132.4
163.0
121.7
42.7
215.6
125.5
133.0
157.2
121.1
40.8
219.3
123.1
150.4
168.5
119.4
37.7
223.5
122.8
149.9
156.8
117.7
45.5
225. 3
116. 4
138. 1
170.1
122.4
83.0
237.7
115.4
138.0
161.1
128.8
85.7
239.3
120.3
138.0
185.2
126.1
56.4
232.3
122.3
133. 6
191.4
130. 6
64.0
239. 6
125. 1
142.5
201.3
107.3
79.3
107.9
85.7
r 127.8
106.9
79.5
117.5
79.0
127.2
108.5
81.6
108.7
85.3
129.1
109.9
78.0
115.8
96.6
130.2
107.4
74.4
106. 1
95.7
129.0
110.6
85.0
107.6
93.5
129.5
109.8
79.4
107.4
93.3
r
131.1
107.2
77. 7
97.9
84.4
130.5
107.9
80.6
89.0
85.0
131.3
110.2
80.2
' 106. 3
99.0
130.4
110.4
79.5
108.0
90.8
132. 8
112.5
78.5
121.3
99.6
133.5
77.5
74.8
89.2
117.6
124.5
116.6
120. 1
100.9
90.3
89.9
92.2
72.7
67.9
94.0
51.0
40.1
99.6
42.0
29.6
97.2
31.4
17.9
91.7
37.3
24.5
94.7
62.3
56.5
53.1
46.7
81.5
29.3
12.7
103.6
80.4
'74.3
81.1
76.4
81.1
77.1
81.4
77.2
81.7
79.7
81.6
81.3
81.7
82.9
82,0
85.5
82.2
86.1
82.8
85. 1
84.6
104. 6
97.4
104.7
134. 1
131.7
127.3
87.1
81.0
76.2
105. 6
102.9
104.9
137.9
135.8
126.3
88. 7
107.1
109.0
105.9
140.2
137.5
126.3
89.4
no. i
103.9
109.0
147.9
127.4
129.6
88.3
111.0 i 110.1
99.6
80. 1
107. 7
107.0
151.8
150.3
124.9
122.4
132. 0
136.0
87.1
86.5
103.8
61.2
102.4
145.6
124.8
136.9
81.4
104. 1
57.2
105.3
147.6
119. 1
128.4
80.7
102.8
52.8
107.6
145.8
118.9
126.1
79.6
103.0
53.7
110.8
146.0
122.7
127.5
79.5
106.3
71.4
113.8
147.4
125.2
128.4
85. 1
114.3
105. 2
117.9
151.9
129.0
131.5
86.7
2,894
72.0
104
2,619
71.2
87
3, 134
69.9
88
3,328
72.2
94
3,303
71.8
94
3,405
69.7
102
3,228
70.4
82
2.732
74.3
92
3,190
78.5
85
3,376
77.9
83
2,769
74.5
2.892
72.9
31,396
23, 547
26, 090
29, 402
36, 710
34,146
27, 699
30, 604
31, 998
32, 919
31,858
37,658
70, 692
3.45
114.3
26, 791 177.870
3.41
3.35
119.5
114. 7
124,665
3.46
126.9
51,018
3.44
131. 8
94, 279 207, 282 100. 539
3.56
3.34
3.37
142.4
129.2
137.4
81,355
3.76
147.2
46, 292 158, 364
3.57
3.73
132.2
136.2
105,033
3.49
129.4
53, 821
93, 530
50, 258
89,582
52, 983
ir3,003
65,159
122,866
66,169
99, 407
52, 996
75, 691
48, 681
89, 359
70, 990
66, 907 101, 577
56, 886 76, 707
108,857
75, 669
21,157
20,720
378
26,917
464
33,309
409
20, 428
475
5,362
4,749
390
8,027
349
12,180
390
263
220
206
192
214
3,618
286
208
33, 840
24, 700
8,255
29, 034
22,160
5,884
30,108
22,579
6,385
25,140
22,890
1,146
28, 691
24, 352
3,106
29, 458
24, 479
3,857
29,257 i
25, 199 S
2,901 J
28,253
25,649
1,468
3,266
127
2,376
107
2,161
169
2,053
131
2,209
161
2,362
131
2,104 '
144
1,832
165
2,380
70
98
1,701
2,262
74
99
1,459
2,326
68
104
1,090
2,319
66
115
1,009
2 412
71
125
1, 099
2,323
68
121
1,052
2, 301
78
121
900
2, ?53
78
119
1,001
110.8
i
112.0 j
43.7
215.8
109. 5
124.2
169.0
25, 913
445
388
222
27,301 I
28, 637
25,335
890 ! 26,026
1,615
684
2,242
2,
195
183
33,103
25, 574
6,609
3,055
165
2, 021
2 020
39
80
1 363
2,042
52
86
1.516
35
69
1,301
83,416
51, 883
9,789
314
tRevised series; for 1936 revisions, see p. 56 of the March 1937 issue.
348
186
24, 710
22,199
1, 451
1,936
132
2,147
62
112
1,000
|
210 |
•New series. For data beginning 1930, see table 37, p. 19, of this issue.
INDEX TO MONTHLY BUSINESS STATISTICS
Abrasive paper and cloth
Page
52
Acceptances
31,32
Accessories—automobile
55
Advertising
25, 26
Africa, United States trade with
___
37
Agricultural products, cash income received
from marketings of
23
Agricultural wages, loans.
31,32
Air-conditioning equipment..
49
Air mail
26
Airplanes
38,55
Alcohol, denatured, ethyl, methanol
39
Aluminum
50
Animal fats, greases___
39
Anthracite industry._
22,29,45
Apparel, wearing
23, 28,30, 53
Argentina, United States trade with; exchange;flaxseedstock
33,37,40
Asia, United States trade with
37
Asphalt
46
Automobiles
22,26,28,30,55
Babbitt metal
50
Barley
42
Bathroom accessories
53
Beef and veal
43
Beverages, fermented malt liquors and distilled spirits
41
Bituminous coal
22,29,45
Boilers and boiler fittings
49
Bonds, prices, sales, value, yields
35,36
Book, publication
52
Boxes, paper, shipping
52
Brass
51
Brazil, coffee; exchange; United States trade
with
.
33,37,44
Brick
53
Brokers' loans
32
Bronze
51
Building contracts awarded
24
Building costs
25
Building materials
24,47
Business activity index (Annalist)
22
Business failures
32,33
Butter
41
Canadian statistics
56
Candy
44
Canal traffic
38
Capital issues
35
Carloadings
22, 38
Cattle and calves
43
Cellulose plastic products
40
Cement
22, 28,30,53
Chain-store sales
26,27
Cheese
41
Chile, exchange, United States trade with__ 33,37
Cigars and cigarettes
44
Civil-service employees
29
Clay products
28,30,53
Clothing
23,24,28.30,53
Coal
22,29,45
Cocoa
_
_
44
Coffee
. _
23,24,44
Coke
45
Collections, department stores
27
Commercial paper
31,32
Communications
38
Construction:
Contracts awarded, indexes
24
Costs
25
Highways
25
Wage rates
31
Copper
50
Copra and coconut oil
40
Corn
42
Cost-of-living index
23
Cotton, raw and manufactures. _
23, 24, 53, 54
Cottonseed, cake and meal, oil
40
Crops
23,40,42,43,53
Dairy products
23,24,41,42
Debits, bank
32
Debt, United States Government
34
Delaware, employment, pay rolls
29,30
Department-store sales and stocks
27
Deposits, bank
32
Disputes, labor
29
Dividend payments
36
Douglas fir
47
Earnings, factory
30,31
Eggs._
23,44
Electrical equipment
50
Electric power, production, sales, revenues-. 22,41
Electric railways
37
Employment:
Cities and States
29
Factory
27, 28, 29
Nonmanufacturing
29
Miscellaneous
29
Emigration
38
Enameled ware
,
48
Engineering construction
25
England, exchange; United States trade
with
33,37
Exchange rates, foreign
33
Expenditures, United States Government
34
Explosives
39
Exports
37
Factory employment, pay rolls
27, 28, 29,30,31
Failures, commercial
32,33
Fairchild's retail price index
23
Fares, street railways
_.
Page
37
Farm employees
29
Farm prices, index
23
Federal Government, finances
34
Federal-aid highways
25,29
Federal Reserve banks, condition of
32
Federal Reserve reporting member bank
statistics
.
32
Fertilizers
39
Fire-extinguishing equipment
55
Fire losses
25
Fish oils and fish
.
39,44
Flaxseed
40
Flooring, oak, maple, beech, and birch
47
Flour, wheat
43
Food products..
22-24,28,30,41
Footwear
46,52
Foreclosures, real estate
25
Foreign trade, indexes, values
37
Foundry equipment
49
France, exchange; United States trade with. 33,37
Freight cars (equipment).
55
Freight carloadings, cars, indexes
38
Freight-car surplus
,_
38
Fruits
23,42
Fuel equipment
49
Fuels
-_
45,46
Furniture
.
47
Gas, customers, sales, revenues
41
Gas and fuel oils___
45
Gasoline
45
Gelatin, edible
44
General Motors sales
55
Glass and glassware
22, 28,30, 53
Gloves and mittens
46
Gold
33
Goods in warehouses
26
Grains
.__ 23,24,42,43
Gypsum
53
Hides and skins
24,46
Hogs
----43
Home loan banks, loans outstanding
25
Home Owners' Loan Corporation
25
Hosiery
53
Hotels
29,31,38
Housing
23
Illinois, employees, factory earnings
29,30,31
I mports
37
Income-tax receipts
34
Incorporations, business
26
Industrial production, indexes
,
22
Installment sales, New England
27
Insurance, life
33
Interest payments
36
t
Interest rates
__—
32
Investments, Federal Reserve reporting
member banks
,
32
Iron, ore; crude; manufactures
22,48
Italy, exchange; United States trade with.. 33,37
Japan, exchange; United States trade with.. 33,37
Kerosene
46
Labor turn-over, disputes
29
Lamb and mutton
43
Lard
43
Lead
22,50
Leather
22,24,28,30,46
Leather, artificial
54
Liberty bonds
.
35
Linseed oil, cake, and meal
40
Livestock
23,24,43
Loans, agricultural, brokers', time, real
estate
31,32
Locomotives
55
Looms, woolen, activity
54
Lubricants
.
46
Lumber
22,24,27,28,47
Lumber yard, sales, stocks
47
Machine activity, cotton, silk, wool
54
Machine tools, orders
49
Machinery
27,28,30,49,50
Magazine advertising
25, 26
Manufacturing indexes
22
Marketings, agricultural
23
Maryland, employment, pay rolls
29, 30
Massachusetts, employment, pay rolls
29,30
Meats
43
Metals
22-24,27-30
Methanol
_
39
Mexico:
Silver production
34
United States trade with
37
Milk
42
Minerals,..
22,45,50
Money in circulation
33
Naval stores
39
Netherlands, exchange
33
New Jersey, employment, pay rolls
29,30
Newsprint
52
New York, employment, pay rolls, canal
traffic
29,30,38
New York Stock Exchange
35,36
Notes in circulation
32
Oats
42
Oceania, United States trade with
37
Ohio, employment
29
Ohio River traffic
38
Oils and fats__
39
Oleomargarine
40
Paints
41
Paper and pulp
23,24,28,30,51,52
Passenger-car sales index
26
Passengers, street railways; Pullman
37,38
Passports issued
_.
38
Pay rolls:
Factory
30
Factory, by cities and States. _.
30
Nonmanufacturing industries
30,31
Pennsylvania, employment, pay roll*
.
30
Petroleum and products... 22,24,28,29,30,45,46
Pig iron
. 22,48
Pork
•____-_.
43
Postal business
26
Postal savings
32
Poultry.
_
23,24,44
Prices:
Cost of living, indexes
23
Farm indexes
23
Retailihdexes
3d
Wholesale indexes
23,24
World, foodstuffs and raw material.
24
Printing
_
_
28,30,52
Production, industrial
;_.
22
Profits, corporation
...
34
Public
finance
34
Public utilities
24,29,30,36
Pullman Co
....
38
Pumps
49
Purchasing power of the dollar
24
Radiators
48
Radio, advertising
.
26
Railways; operations, equipment, financial
statistics
38,55*56
Railways, street
37
Ranges, electric
50
Rayon
.
54
Reconstruction Finance Corporation, loans
outstanding
34
Refrigerators, electric, household..
50
Registrations, automobiles
55
Rents (housing), index
23
Retail trade:
Automobiles, new, passenger
26
Chain stores:
5-and-10 (variety)
26
Grocery
26
Department stores
27
Mailorder
27
Rural general merchandise
._
_
27
Roofing
...
. _.. _ .__,.
40
Rice
1
42
Rubber, crude; scrap; clothing; footwear;
tires..
I . . . . . . . . . . . . . . . . 22,24,28,30,52
Rye
43
Sanitary ware
48
Savings deposits
....„
32
Sheep and lambs
....
43
Shipbuilding
22,28,30,56
Shoes
_
22,24,28,30,46
Silk
._
22,23,24,54
Silver
_
22,34
Skins
_
....
46
Softwoods
47
Spain, exchange
.
33
Spindle activity, cotton
$4
Steel, crude; manufactures
22,4$, 49
Stockholders
36
Stock indexes, domestic and world
23
Stocks, department stores
..
27
Stocks (see individual commodities).
Stocks, issues, prices, sales
„•_
36
Stone, day, and glass products
22,2t,30,53
Sugar
23,24,44
Sulphur
,
39
Sulphuric acid
39
Superphosphate
39
Tea
23,24,44
Telephones and telegraphs
. 38
Terneplate
50
Terra cotta
53
Textiles, miscellaneous products....
54
Tile, hollow building
53
Timber
—...
47
Tin and terneplate
23,24,50
Tires
22,24,28,30,52
Tobacco
22,26,28,30,44
Tools, machine
49
Trade unions, employment
.
.
29
Travel
38
Trucks and tractors, industrial electric
56
United Kingdom, exchange; United States
trade with
33,37
Uruguay, exchange
33
United States Steel Corporation
31,36,49
Utilities
29,30,34,35,36,41,55
Vacuum cleaners
.
„..
50
Variety-store sales index
i—.—
2«
Vegetable oils
3»,40
Vegetables
.23,42
Wages
31
Warehouses, space occupied....
_.
_.
26
Waterway traffic
._
38
Wheat and wheat
flour
23,24,43
Wholesale prices
23,24
Wire cloth..
...
51
Wisconsin, employment, pay rolls
29,30,31
Wood pulp
. . . . . - 51
.22,54
The Balance of International Payments
of the United States in 1936
THE FIFTEENTH annual survey of the United States international transactions
made by the Department of Commerce has just been published.
The results
are set forth in detail in the bulletin, The Balance of International Payments
of the United States in 1936.
.
.
. THE ITEMS examined in this study in-
elude not only the so-called "visible" exports and imports but also short-term
and long-term capital movements, tourist expenditures, immigrant remittances,
interest and dividend receipts and payments, etc. .
.
. THE DATA in the
present study have an important bearing on the international trade situation,
1 5 CENTS A COPY
blocked accounts, international security transactions, gold and silver movements,
,
. x ,
„
and related problems.
Minerals Yearbook 1937
Minerals Yearbook 1937 reviews the mineral industry during the calendar year
1936, both in the United States and abroad; contains official Government statistical information on nearly 100 metals, minerals, and mineral products; and presents a comprehensive and accurate record of economic developments and trends
in mining.
The book is of current interest and lasting value, both to the mining
industry and the general public, and is indispensable to everyone interested in
domestic and international trade in minerals.
. . .
In addition to presenting
detailed commodity statistics, the volume reviews the status of mining in relation
to American industry.
Efforts of foreign powers to attain self-sufficiency in
strategic materials are described.
Progress in mine mechanization is brought
up-to-date through the results of a cooperative study with the National Research
Project of WPA.
la800Pag*s
72 Chapters
The current edition also includes the detailed data heretofore
released through the Statistical Appendix, publication of which has been discontinued.
For the first time in the history of the Mineral Resources-Minerals
120 Illuffrations
Yearbook series, complete data on the entire mining industry are presented in a
mpftf |i ex
single reference volume of 1,500 pages, available at a price of $2.25, a saving
of one dollar as compared with the joint cost of the two volumes issued in previous
$
2 . 2 5 A COPY
years.
Published by the United States Department of the Interior, Bureau of Mines.
Copies may be obtained from the Superintendent of Documents, Government Printing Office,
Washington, D. C.
@FedFRASER