Full text of Survey of Current Business : September 1939
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SEPTEMBER 1939
SURVEY
OF
CURRENT BUSINESS
UNITED STATES
DEPARTMENT OF COMMERCE
BUREAU OF FOREIGN AND DOMESTIC COMMERCE
WASHINGTON
VOLUME
19
NUMBER 9
THE INPUSTIIIAL MARKET DATA
HANDBOOK OF THE UNITED STATES
Domestic Commerce Series No. 107 s $2.50 (Buckram)
The Industrial Market Data Handbook contains complete figures on industrial production,
employment, value of products, cost of material, fuel and power, and output per wage
earner for the 3,070 counties in the United States, and similar data for every city with a
population of 10,000 and over. Included is a tabulation of the county location of 169,111
manufacturing plants by kind of industry. Parallel tables covering the mining industry
of the country including a county location table for each of the 23,000 mines by type of
mine is a part of this Handbook. The data described are for the year 1935. None of these
have been available in such detail and a number are presented for the first time. The
Handbook is especially valuable in estimating sizes and locations of markets, potential
values of markets, for the establishment or reappraisals of sales territories, setting up sales
and production quotas, making market analyses, planning sales and advertising campaigns,
and in deciding on channels of distribution likely to be most profitable to the manufacturer.
It is of special value to: Manufacturers, industrial marketing men, sales executives, finance
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DISTRIBUTION COST ACCOUNTING
FOR WHOLESALING
Domestic Commerce Series No. 106 :15c a copy
This manual contains a complete discussion of distribution cost accounting procedure for
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Particularly valuable is the information explaining how business records may be analyzed
to determine the cost of each merchandising department, each commodity, each customer
group, and each territory of sales operation. All methods of cost allocations and expense
break-downs used in the handbook have been tested and found satisfactory either by the
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With the advent of recent Federal and State legislation relative to distribution, the subject
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interested in distributive fields.
This handbook contains detailed explanations and numerous illustrations.
Copies of any of the above publications may be obtained at the price stated from either the Superintendent of Documents, Government
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Volume 19
Number 9
UNITED STATES DEPARTMENT OF COMMERCE
HARRY L. HOPKINS, Secretary
BUREAU OF FOREIGN AND DOMESTIC COMMERCE
F. H. RAWLS, Acting Director
SURVEY OF
CURRENT BUSINESS
SEPTEMBER 1939
A publication of the
DIVISION OF BUSINESS REVIEW
M. JOSEPH MEEHAN, Chief
TABLE OF CONTENTS
SUMMARIES
Page
3
Business situation summarized.
Employment
Domestic trade
Foreign trade
Construction and real e s t a t e . . . .
SPECIAL ARTICLES
Trends in wholesale volume, 1929-38
Financial aspects of unemployment compensation experience
11
12
CHARTS
Figure 1.—Monthly business indicators, 1929-39
Figure 2.—Factory shipments of vacuum cleaners and factory sales
of washing machines and electric refrigerators, by months, 1935-39
Figure 3.—Shipments of building materials, by months, 1937-39...
CHARTS—Continued
2
3
5
Page
Figure 4.—Distribution of number of benefits for total and partial
unemployment, by amount of benefit check, April-June 1939. . .
Figure 5.—Unemployment compensation: Cumulative collections
and interest, cumulative benefit payments, and funds available
for benefits, in 23 states, January 1938-June 1939
Figure 6.—Unemployment compensation benefit payments and
contributions collected in the 23 States paying benefits, since
January 1, 1938, by quarters
Figure 7.—Unemployment compensation: Cumulative collections
and interest, cumulative benefit payments, and funds available for
benefits, in Texas and West Virginia, January 1938-June 1939....
15
16
19
Inside back cover
Superintendent of Documents, Washington, D. C.
1
14
STATISTICAL DATA
Monthly business statistics
General index
Subscription price of the monthly and weekly issues of the SURVEY OF CURRENT BUSINESS is $2 a year. Single-copy price: Monthly, IS cents; weekly, 5 cents*
Foreign subscriptions, 33.50. Price of the 1938 Supplement is 40 cents* Make remittances only to
173409—39
12
1
SURVEY OF CURRENT BUSINESS
September 1939
Monthly Business Indicators, 1929-39
INDUSTRIAL PRODUCTION
140
INCOME PAYMENTS AND CASH FARM INCOME
vo LUME (1923- 25 = 100)
130
110
120
100
}A.
•MONTHLY INCOME
110
/
100
1
/
*
90
A
V
80
70
60
120
MONTHLY INCOME PAYMENTS (1929=100)
CASH FARM INCOME (1924M9£9«1OO)
tz
1929
\
,
PAYMENTS
90
V
80
70
/
60
\
V
-CASH INCOME FROM FARM MARKETINGS
(EXCLUSIVE OF RENTAL & BENEFIT PAYMENTS)
50
40
V
1930 1931 1932 1933
1934 1935 1936
1937 1938 192.9
1929
1930
1931 1932 1933 1934 1935
CONSTRUCTION CONTRACTS AWARDED**
1936 1937 1938 1939
FOREIGN TRADE *
140
120
100
80
.60
40
20
1929
1930 1931 1932 1933
1934 1935 1936
1937 1938 1939
1929
FACTORY EMPLOYMENT AND PAYROLLS
140
1930 1931 1932 1933 1934 1935
1936
1937 1938 1939
WHOLESALE PRICES AND COST OF LIVING
110
(1923-25 =100)
(l923~25« 100)
100
120
100
90
**\
FACTORY EMPLOYMIzNT-^ ,
V ^ ^ (ADJUSTED)
^
80
^
80
J
60
V
40
70
J]
^FACTORY PAYROLLS
(UNADJUSTED)
WHOLESALE PRICES
60
50
20
0
0
1929 1930 1931 1932 1933
1934 1935 1936 1937 1938 1939
1929 1930 1931 1932 1933 1934 1935 1936
RETAIL SALES *
175
STOCK PRICES
AUTOMOBILE SALES (1929-31=100)
DEPARTMENT STORE SALES (1923~25=1OO)
rt
100
75
'
l/l1
25
I
1929 1930
INDU STR1AL COMPAMES
250
JA
200
1
JEW PA SSENGiEff
0
^-350
\
•A
50
s
300
u
125
r
350
(1923-25=100)
150
-DEPAfi ?TMEN7STORl
1937 1938 1939
y
1
1931 1932 1933 1934 1935
^~3O
1936 1937 1938 1939
Figure 1.
50
RAIL ROAD C
ZOMPAt WES
1929 1930 1931 1932 1933 1934 1935
* ADJUSTED FOR SEASONAL VARIATION
100
Is-
\
AUTOMOB
|
150
\
1936 1937 1938 1939
• T H R E E - M O N T H MOVING AVERAGE
0.09*32
September 1939
SURVEY OF CURRENT BUSINESS
Business Situation Summarized
OMESTIC business volumes in August were not
D
materially affected by the threatening European
political developments and there was a further moderate improvement during the month. Manufacturing
production increased seasonally following the considerable gains in the adjusted index during June and July
but the drop in crude petroleum output reduced the
volume of mineral production. General merchandise
trade experienced the usual substantial rise; automobile
sales dropped as the model change-overs, which came
earlier than usual this year, accentuated the normal
decline from July. Construction operations continued
at the high levels reached in the preceding month and
contracts for new projects were little changed from the
July rate. Business in all major lines continued well
in advance of a year ago, though industry and trade,
generally, did not match the strides made at this
time in 1938 when the pick-up from the low point of
the 1937-38 recession w^as gaming momentum.
Mounting European tension, which arose from the
immediate prospect of a general conflict, unsettled
financial markets throughout the month. Commodity
markets were sensitive in some degree to developments
abroad, though, through August 31, there was not much
change in quotations on products likely to be affected
by war demands. However, with the outbreak of
actual hostilities between Germany and Poland on
September 1, quotations of a number of commodities
advanced sharply. On that day sizable gains occurred
in prices of such staples as wheat, corn, rye, cocoa,
sugar, lard, tin, and rubber; there was a small rise in
copper quotations and a strengthening in prices of other
industrial materials.
Though August did not bring a repetition of the general curtailment of commitments experienced at the
time of the European crisis last spring, purchasing by
industrial consumers nevertheless was not so aggressive
as in the 2 preceding months which witnessed pronounced buying waves in certain staples. Retailers
continued to make commitments based upon expectations of a good fall trade, with wholesale volumes well
ahead of last year. Primary distribution of commodities, as indicated by freight traffic, held around the
July rate with little change indicated for the adjusted
index of loadings for August. The freight movement
continues to exceed last year's volume by about oneeighth. The carriers have also benefited from the
increase in summer travel this year; record gasoline
consumption and high replacement sales of tires are
also a reflection of this trend.
Further expansion in activity occurred in a number
of manufacturing lines during August and, in the
aggregate, factory production made the usual increase
for this period. Automobile assemblies were at a seasonal low of about 100,000 units, but by the end of the
month a number of plants were turning out 1940 models
and employment in automotive centers was again rising.
Steel ingot production, following the marked improvement during June and July, expanded at a more-thanseasonal rate in August; finishing operations increased
during the month after lagging in the June-July advance. Output of ingots averaged about 61 percent of
THOUSANDS OF UNITS
200
VACUUM CLEANERS
(Floor Types)
150
Jv
I 00
50
200
V
WASHING-MACHINES
I 50
100
ELECTRIC REFRIGERATORS
1935
1936
1937
1938
!939 J
daily capacity as compared with 55 percent in July.
Production was higher than in any month since September 1937, exceeding output last November by a
small margin. Other durable-goods industries have
maintained or improved their position.
SURVEY OF CURRENT BUSINESS
In the nondurable-goods industries, production this
summer has declined less than seasonally expected and,
on an adjusted basis, has been as high as at any time
since June 1937, excepting last December. By reason
of the marked rise in some of the nondurable-goods
industries a year ago, preliminary indications point to
an August output but little in excess of that in August
1938.
Crude-petroleum output was a major exception to the
general trend, as State control agencies in the midcontinent fields endeavored to correct a situation which
had produced a marked drop in crude quotations.
Crude-oil production in the week ended August 26 was
reduced to an average of 1.7 million barrels daily as
compared with the July flow of 3.6 million barrels.
Refinery operations were not impaired by the lowered
flow of crude and, as in July, were exceptionally high.
There was a seasonal increase in bituminous-coal production in August following the July advance which
in part went to increase industrial stocks. A further
rise occurred in generation of electric energy in August
and production, up 10 percent from August 1938, was
at a record figure.
Sales of Durable Goods Expand
While the output of the nondurable-goods industries
comprises a larger portion of industrial output than in
1937, when the two major segments approached a
parity on a 1929 basis, the expansion since the low
point a year ago has been larger relatively in the industries producing durable goods. This is the usual
situation during periods of fluctuating business activity,
but it is of interest to observe the trends in two major
groups of durable commodities—building materials and
durable products for use in the home. The situation
in the latter group is typified by the sales of such products as electric refrigerators. The accompanying
figure 2 reveals the sales trend of this and two similar
commodities. While no correction has been made for
the usual seasonal swings in sales, it is apparent that
the underlying trend was downward from the spring
of 1937 to the middle of last year, and that sales of
electric refrigerators lagged as business generally moved
up in the latter half of 1938. So far this year sales of
each of these products have advanced to a point considerably higher than the average experience during
the corresponding months of 1938. Although automobile sales are not shown in this figure, it may be
seen from figure 1 that passenger-car sales experienced
a marked upturn with the improvement in general
business during the latter half of 1938, and in recent
months have made a relatively favorable showing.
No current series on furniture and floor covering
sales are available for plotting, but the data on these
industries indicate that they have followed a pattern
not essentially different from the trends indicated in
figure 2.
September 1939
With construction activity advancing to a level which
compares favorably with the 1937 peak, building materials have gradually moved into trade channels at an
increasing rate. Figure 3 presents the comparative
movement of 16 series of data during the past 3 years.
In general, the pattern in these industries over this
period has been the same, but the current position
differs to some extent. Prepared roofing shipments
stand out because of the increase in 1938. The others
indicate improvement since the early part of 1938; at
that time the construction industry experienced a
definite turn for the better—particularly in the residential field. Shipments of brick, portland cement,
tile, and oak flooring at the seasonal peak this year
equaled or exceeded the 1937 results for the corresponding months. Paint sales were lower, though sales
to the distributive trade have been larger than in the
comparable months of 1937 since last April. Air-conditioning-equipment manufacturers have experienced a
steady rise in sales this year, though the results fell short
of those in 1937. Oil burners are about on a par with
the 1937 sales results.
Gains in the durable-goods industries, as compared
with a year ago, have not been confined to the groups
mentioned above. Of the 43 durable-goods industries,
for which the Department of Labor collects data, all
but 4 showed pay-roll increases of more than 10 percent between July 1938 and July of this year. Aggregate pay rolls in the durable-goods industries at midJuly were nearly a third higher than in 1938, an increase
which stands out among the year-to-year changes in
labor income in various segments of the economy.
For July, total compensation of employees, according
to the Department of Commerce's estimate, was 6
percent higher than a year ago. The index of total
income payments, seasonally adjusted, was unchanged
in July from the June figure of 83.5 (1929 = 100) but
was 2.8 points higher than a year earlier.
Foreign Exchanges Decline
The kaleidoscopic European political events of late
August were climaxed in the foreign-exchange market by the sharp break in quotations for the pound
sterling and the French franc. Growing pressure upon
the two currencies as a result of the incessant demand
for dollars led to the withdrawal of official support at
previous market rates as a means of conserving gold
and foreign-exchange resources. The pound fell to
the lowest levels in 6 years, and the depreciation of
the French franc in terms of dollars was of a similar
degree.
During the first 7 months of the year, the net export
of gold from the United Kingdom exceeded £226,000,000, although a portion of this outflow doubtlessly
represented a further accumulation of gold reserves
abroad by the British Exchange Equalization Fund.
The net gain of gold by the United States from foreign
SURVEY OF CURRENT BUSINESS
September 1939
MONTHLY AVERAGE 1937 = 100
LUMBER
150
BRASS PLUMBING FIXTURES
100
50
0
150
WINDOW GLASS
(Production)
100
50
0
FLOORING
A Maple, Birch and Beech)
150
PORTLAND^CEMENT/
100
50
0
150
COMMON BRICK
FLOOR AND WALL TILE
100
50
0
BUILDING TILE
200
FACE BRICK
150
100
50
0
PREPARED ROOFING
ZOO
OIL BURNERS
150
100
50
50 -
0
AIR CONDITIONING EQUIPMENT
(New Orders)
PAINT (Safes)
ZOO
150
100
50
1937
1938
1939
1937
1938
1939
DO. 39-204
Figure 3—Shipments of Building Materials, by Months, 1937-39.
NOTE.—Data are for shipments except where otherwise specified.
Lumber shipments of July were estimated on the basis of available weekly reports.
6
SURVEY OF CURRENT BUSINESS
countries reached $1,600,000,000 during the same
period. Receipts from abroad during August were
not spectacularly large; but the amount of gold held
under earmark in the United States for foreign account
was reduced during each of the 4 weeks ended August
30, thus increasing domestic gold stocks, and capacity
shipments were reported en route to the United States
from Europe at the close of the month. According to
official announcements, foreign short-term balances
in the United States aggregated $2,600,000,000 on
May 31. Gold held under earmark for foreign account
was placed at approximately $1,135,000,000 at the end
of August.
Security prices receded during August from the closing levels of July, despite the relatively favorable
corporate earnings records reported. Industrial-stock
"averages" fell to within a few points of their June
lows. The reductions in the prices of railroad and
public utility stocks during August were of lesser
magnitude. On September 1, the stock market withstood the shock of the outbreak of European hostilities
and "market averages" held at the levels of the preceding several days. There were, however, considerable fluctuations in prices of various types of shares
during the day, with the gains in some securities being
offset by declines in others.
Bond prices also weakened during August. The
market for the highest grade issues continued during the
September 1939
early part of the month to reflect the large volume of
funds seeking investment involving a minimum of risk,
and the prices of these securities remained firm. Later,
the market was unsettled, with prices of government
bonds tending to decline. The yields on short-term
issues were not changed materially.
In the capital market, the volume of corporate financing during August exceeded that of July, but it was
comprised mainly of refunding operations by public
utility corporations. The offering of $123,500,000 of
3/2 and 4% percent debenture bonds by a large public
utility corporation was one of the high lights of this
market. On July 30, the Federal Housing Administration announced a reduction of one-half of 1 percent on
mortgages committed for insurance by that agency.
The maximum rate of interest on such mortgages was
thus placed at 4% percent. A few days later the Home
Owners' Loan Corporation reduced from 5 to 4% percent the interest rate on mortgages held by it.
Excess reserves of the member banks continued to
rise to new high levels during August as Treasury disbursements exceeded revenues and the inflow of gold
continued. The rise occurred in the face of further
increases in the reserve requirements of the banks accompanying the continued growth of their deposits, a
reduction in the volume of government securities held
by the Federal Reserve Banks, and an increase in the
volume of money in circulation.
M o n t h l v average
1929 = 100
104.4
1929: July
62.6
1932: Julv
59 8
1933- July
86.3
1936: July
- .
89.8
1937: July
1938:
July
81.0
76.1
August
September
_ 83.5
86.3
October
80.9
November- . . _
December
. 90.9
1939January
._.
_ _ _ 84.3
77.8
February
84.3
March
_ . __ _
83.0
April
_
79.6
May
87.2
June
-_
July
M o n t h l y average,
through July:
1929 _
1932
1933
1936
1937
1938
1939
83.9
M o n t h l y average 192325 = 100
108.1
108.6
40.4
61.9
77.4
52. 7
98.4
83.4
109. 3 104.6
Monti ly average 192429 = 100
100.0 111.5
40.5
35.5
78. 5
58 5
84.0
88.0
94.5
87.5
101.1
60.7
57 8
86.7
89.3
101. 5
58. 4
56 2
80.5
89.8
80.7
81.5
82.0
82.1
83.2
84.1
79.8
81.4
82. 5
83.1
84. 6
86.2
82.9
84.9
86. 9
87.5
90.0
91.6
70.6
76.9
81.0
83.8
84.1
86.5
72.0
72.5
85.0
91. 5
78.0
72.5
83.7
83.5
84.2
82.7
82.8
83.5
83.5
85.4
85.1
85. 0
83.3
83. 3
84.8
84.6
91.7
91.3
91.0
90.8
90.1
91.4
91.7
83.4
85.4
86. 9
84.9
84.4
85.9
83.8
68.5
51.0
57.5
55.0
60.0
59.0
63.0
98.9
64 0
55 0
78 7
88 6
80 5
84.5
105. 5
66 9
67.0
94 4
107 0
85.2
90.6
111.0
49 1
43 8
81 0
104 3
74 0
85.0
90.9
41 8
43 1
64 8
71 6
62 5
59.1
192931 = 100
M o n t h l y average 1923-25 = 100
New
Bank debits, outside
York City
ii
Construction contrac
types, value, adjust
Imports
Foreign
trade,
value,
adjusted i
Exports
New passenger automobiles
Department stores
Merchandise, lessthan-carlot
F r e i g h t - c a r Retail sales,
value, a d loadings,
justed i
adjusted *
Total
Minerals
Manufactures
Industrial
production,
adjusted i
Total
Adjusted i
Cash farm
income 2
Unadjusted
Amount of pay rolls,
unadjusted
Factory employment
and
pay rolls
Number of employees,
adjusted i
Adjusted i
Year and month
Unadjusted
Total payments
Compensation of employees, adjusted i
Monthly income
payments
Wholesale price index, 813
commodities
MONTHLY BUSINESS INDEXES
M o n t h l v average
1923-25 = 100
Monthly
average
1926 = 100
96.5
64.5
68.9
80.5
87.9
106
68
70
66
68
109
65
69
90
92
152.0
28.0
52.5
104. 5
104. 5
121
32
43
54
80
119
27
48
66
89
124
21
59
67
144.0
63.4
70.4
94.4
102.2
61
62
64
68
69
69
60
60
61
62
61
61
83
83
86
84
89
89
56.5
54.5
60. 0
85.0
100.0
92.5
68
66
62
60
58
67
47
53
55
54
55
54
59
66
78
82
96
96
84.5
81.2
83.3
91.7
86. 4
106. 9
78.8
7S. 1
78.3
77.6
77.5
77.0
110
110
110
95
98
104
108
69
67
66
60
62
67
69
62
62
62
61
61
61
62
88
87
88
88
85
86
86
91.0
96.0
88.0
79.5
79.0
79.0
81.0
55
63
70
64
70
70
69
55
49
53
53
61
58
57
86
73
69
67
63
63
67
90.5
77. 1
92.3
85.3
90 0
94.7
89.6
76.9
76.9
76.7
76.2
76. 2
75.6
75.4
112
70
77
100
113
95
102
104
53
54
69
78
58
64
104
73
66
64
68
60
61
98
65
56
75
82
74
77
165. 7
43.1
45.2
112.9
123.6
66.1
93.0
114
36
31
50
68
68
62
117
37
32
60
86
49
56
126
28
18
54
62
54
70
136.8
68.6
3 60. 3
89.2
100.8
84.1
88.5
95.6
65. 4
62.6
79.8
87.2
79.2
76.3
124 i
58 i
100 ,
108
114
125 ! 116
57
65
102 i 91
109
102
114
112
82.5
72.0
72.5
67.5
69. 5
68.0
83
88
90
96
103
104
82
87
89
95
103
104
93
95
97
98
102
109
67.5
60.0
64.0
64.5
65.0
60.0
62.5
102
99
98
92
92
98
102
100
97
96
92
91
97
101
122
64
74
101
117
79
98
124
63
74
101
118
76
97
108 1
49
66 ;
80 i
January
99.0
66 1
56.7
79 5
86 3
80 4
82.9
13 Adjusted for seasonal variations; m o n t h l y averages,
Average of 6 m o n t h s , J a n u a r y , February, a n d April
except compensation of employees, are based on unadjusted indexes.
through July.
2
From farm marketings
SUEVEY OF CURRENT BUSINESS
September 1939
Employment
to the usual seasonal tendency,
CONFORMING
nonagricultural industries employed about the
same number of workers in July as in June, according
to data compiled by the Bureau of Labor Statistics.
The gain over a year ago was maintained at 1,200,000,
practically the same as in June.
The largest change in employment from mid-June
to mid-July was that recorded for retail-trade establishments which released about 100,000 workers; this
decline, however, was less than that usually experienced during July when sales are at a seasonal low point.
Anthracite and metal mines reported decreased employment and several of the service industries reported
seasonal declines. These losses were offset to a large
extent by employment gains in construction, transportation, and public utilities, with the result that aggregate nonagricultural employment was reduced by only
30,000 workers. These figures do not include employees
on Work Projects Administration and National Youth
Administration projects, or enrollees in the Civilian
Conservation Corps. Agricultural employment was
seasonally lower during July, and the number at work
on projects operated by the W. P. A. declined further,
largely because of the release of workers who had been
employed for a period of 18 months or more.
Factory employment was slightly lower in July than
in June, but the adjusted index recorded a small increase to 91.7 (1923-25 = 100). Pay rolls experienced
a somewhat larger decline, partly because of the July
4th holiday. The adjusted factory-employment index
has fluctuated within a range of about a point and a half
so far this year, following the rise in the summer and
fall of 1938. However, the index for July was about
11 percent above the corresponding month a year ago.
For the index of the durable-goods group, the gain over
July 1938 amounted to 17 percent; for the nondurablegoods group the increase was 6 percent. Over the year
interval, the unadjusted index of total factory pay rolls
recorded a gain of nearly one-fifth, in the durable-goods
classification of almost one-third, and in the nondurablegoods group of about one-tenth.
Employment gains from June to July were reported
for 50 of the 87 manufacturing industries, and pay-roll
increases were reported for 34 industries. For many
industries the employment gains were contraseasonal or
larger than seasonal. These embraced aircraft, furniture, radios, men's clothing, cotton goods, book and
job printing, and woolen and worsted goods. Declines
of contraseasonal, or more than seasonal extent, were
reported for the rubber footwear, automobile, agricultural implements, wirework, and electric and steam
railroad car-building industries.
EMPLOYMENT STATISTICS
Factory employment and pay rolls 1
Employment
Unadjusted
Year and month
Pay rolls, unadjusted
Adjusted t
NonNonNonDura- duraDura- duraDura- duraAll inAH
inble
ble
inEmble
ble All
ble
dusdusgoods goods
goods ble
goods goods
dusploytries indus- i n d u s " tries indus- indus- tries indus- indus- ment
tries tries
tries tries
tries
tries
July
Monthly average, January through July:
1929
1932
1933
1930
1937
1938
1939
Average factory
wages and hours
(National Industrial
Conference Board)
Industrial disputes
Strikes
beginning
in
Hours
Weekly Hourly
Pay earn- earn- worked month
per
ings week
ings
rolls
Monthly average
1929=100
Monthly average 1923-25=100
1929: July
1932: July
1933: July
1936: July
1937: July
1938:
July
August
September
October
November
December
1939:
January
February
March
April
May
June
Retail trade,
unadjusted
Dollars
Workers involved,
strikes
beginning
in
month
Mandays
idle
during
month
Thou- Thousands ofsands
days
Number
107.3
61.0
76.2
97.1
108. 0
109.2
50.1
59.8
91.7
107.8
105.6
71.5
91.8
102. 2
108.2
108.1
61.9
77.4
98.4
109.3
109.2
50.1
60.0
92.4
108.6
107.1
73.0
94.1
104.2
109.9
108.6
40.4
52.7
83.4
104. 6
109.8
29.4
39. 6
79.7
107.3
107. 2
52.8
67. 3
87.6
101. 7
97.3
73.1
71.0
83.2
87.6
98.8
59.2
51.0
65.1
72.8
28.41
15.36
19.34
24.20
27.83
.587
.490
.456
.617
.711
48.4
31.9
42.9
39.1
39.2
237
173
472
37
30
175
38
144
901
1,618
1,775
1,105
3,008
81.9
85.7
88.8
89.5
90.5
91.2
70.3
71.7
75.3
79.0
82.1
83.1
92.9
99.0
101.7
99.4
98.4
98.8
82.9
87.5
90.0
91.6
70.7
72.0
75.7
77.9
81.3
83.2
94.5
97.2
97.6
96.7
98.3
99.5
70.6
76.9
81.0
83.8
84.1
86.5
58.6
63.7
68.7
75.2
78.3
80.4
84.1
91.7
94.9
93.4
90.6
93.4
81.1
80.0
84.7
85.9
68.1
66.8
69.4
70.8
71.5
79.2
23.93
24.93
25.73
26.14
26.32
26.02
.713
.711
.714
.714
.714
.713
33.8
35.2
36.2
36.7
36.9
36.6
262
222
256
207
177
50
48
96
53
43
38
776
831
990
842
558
513
89.5
90.7
91.4
91.1
90.1
90.6
90.5
81.6
82.6
83.5
84.1
83.3
83.9
82.1
97.1
98.4
98.9
97.8
96.7
97.0
98.5
91.7
91.3
91.0
90.8
90.4
91.4
91.7
83.6
83.4
83.0
83.2
82.2
83.2
82.6
99.5
98.7
98.6
98.0
98.2
99.2
100.3
83.4
85.4
86.9
84.9
84.4
85.9
83.8
76.6
78.4
80.1
80.2
79.5
81.4
76.4
91.0
93.1
94.6
90.2
89.9
91.0
92.1
82.2
81.5
83.8
85.5
85.7
86.2
83.4
69.7
68.4
69.6
71.3
71.5
72.4
70.7
25.95
26.11
26.25
26.27
26.19
26. 79
26. 76
.713
.713
.715
.717
.720
.721
. 722
36.6
36.8
36.9
36.8
36.5
37.2
37. 2
172
180
192
209
207
210
210
49
67
41
390
91
50
145
512
540
591
4,861
3,473
925
1,000
105. 5
66.9
67.0
94.4
107.0
85.2
90.6
106.7
55.2
51.0
88.2
105.1
76.5
83.0
104.4
78.1
111.0
49.1
43.8
81.0
101.3
74.0
85.0
112.9
36.7
30.9
76.7
105. 9
64.5
109.0
62.9
58.2
85.9
102.5
84.6
91.7
97.5
77.5
71.6
83.0
88.0
83.7
84.0
97.5
66.4
51.7
64.3
71.3
69.6
70.5
28.72
17.57
16. 75
23.94
27.56
23.53
26.33
.588
.514
.458
.613
.677
.714
.717
48.7
34.6
37.0
38.9
40.7
33.1
36.9
81
77
128
179
460
235
197
29
35
66
59
210
59
119
566
1,151
799
981
3,124
774
1,700
1
100.3
108.8
93.4
97.8
See footnote marked "f" on p. 25.
2 Adjusted for seasonal variations.
8
SURVEY OF CURRENT BUSINESS
September 1939
Domestic Trade
sales of general merchandise recorded the
R ETAIL
customary marked seasonal increase during August, according to available weekly reports. Department-store sales in the first 3 weeks of August were
above those of July, on an adjusted basis. If the midAugust volume of sales is maintained, the adjusted
index for the month will show a small gain over the
July figure of 86 (1923-25 = 100). Automobile sales
recorded a further seasonal decline in August. The
change-over to new models usually marks the season's
low for sales, and since the shift this year took place
several weeks earlier than usual it is anticipated that
sales will also record an early upturn. No marked
changes are indicated for sales of other types of retail
outlets, after allowance for the usual seasonal increases.
In July, the total value of retail sales was estimated
to be about 10 percent lower than in June. After
adjustment for 1 less working day in July and for
the usual seasonal change, it is probable that daily
average sales on a corrected basis were about the same
as in June. Total sales were about 7 percent larger
than a year ago, as compared with a gain of 9 percent
in June. A sample group of nearly 22,000 independent
retailers reported to the Department a relative gain in
July over a year ago equal to the average for other
retail units. As in other recent months the largest
increases among these independent stores were reported
by dealers in consumer durable goods—motor vehicles,
furniture, household appliances—and building materials.
For the lines of trade covered by the indexes shown in
the table below, retail sales in July showed only minor
changes from June, after allowance for the usual marked
midsummer decline. The index of rural sales of general
merchandise declined by somewhat more than the usual
amount from the relatively high June figure, but the
other series showed small increases or remained unchanged. Gains over a year ago narrowed slightly
from the June comparisons as in the case of the Department's sample of independent retailers.
Nearly 3,000 wholesalers reported a sales gain of
about 6 percent in July over the corresponding month
a year ago. Increases of from one-fifth to one-third
were reported by wholesalers of clothing, metals, furniture and house furnishings, electrical goods, and lumber
and building materials, while dealers in hardware, machinery, and shoes reported gains of from 10 to 15
percent.
Sales reported by 1,620 manufacturing firms were
one-eighth larger in July than a year earlier. Practically all of the reporting industry groups recorded gains
over the year interval. Iron and steel and their products were up about 40 percent, machinery about onefourth, and nonferrous metals, forest products, and
stone, clay, and glass approximately one-fifth. For
several important lines, the trend of manufacturers'
sales is depicted in the chart on page 3.
DOMESTIC TRADE STATISTICS
Wholesale
trade
Retail trade
Year and month
Department stores
ComSales
Stocks i
bined
index
Unad- Ad- Unad- Adjust- just- just- just- (Chain
ed 3 Store Age)
ed
ed a ed a
Chain-store sales
Rural sales of
general merGrocery stores Variety stores chandise
Unad- Ad- Unad- Ad- Unad- Adjust- just- just- just- just- justed 3 ed 2
ed 2
ed 3 ed 2 ed 3
Avg. same
mo. 192931 = 100
Monthly average 1929-31 = 100
Monthly average 1923-25 = 100
1929: July
1932: July
1933: July
1936: July
1937: July
1938:
July
August
September
October
November
December
.
1939:
January
February
March
April
May
June
July
.
Monthly average, January
through July:
1929
1932
1933
1936
1937
1938
_.
FRASER 1939
Digitized for
98.5
82.8
82.3
94.9
91.1
100.5
84.5
83.9
96.8
93.0
96.0
70.2
74.4
97.2
97.0
107.9
78.9
83.6
109.2
109.0
97.0
46.7
54.9
88.3
91.7
126.0
60.7
71.3
121.0
125.6
61
65
70
74
78
62
108.0
106.0
109.4
108.0
109.5
112.9
89.2
88.5
93.0
94.9
96.7
101.1
91.0
92.2
94.9
94.4
96.7
98.1
88.0
85.2
94.1
98.2
102.2
193.6
98.9
96.3
98.5
96.7
100.2
104.9
84.8
98.2
121.1
140.9
147.2
183.6
116.2
120.1
114.6
108. 5
113.1
114.8
60
65
68
64
60
107. 5
108.8
1098
110.0
110.0
111.0
112.0
93.5
98.7
100.5
102.0
102.9
100.8
97.7
96.4
98 2
99^5
99.0
101.4
99.3
99.6
73.6
79.7
85.0
97.6
96.3
95.8
90.5
98.7
95.5
98.8
97.1
96.3
100.8
101.7
91.3
100.1
115.0
120.2
120.5
120.0
91.1
120.0
123.7
131. 0
130.8
131.2
131.7
124.8
97
68
55
63
74
67
65
86.0
80.9
102.8
110.8
105. 6
109.9
100.9
88.3
79.1
94.4
96.8
93.6
99.5
109
65
69
90
92
92
59
56
59
69
58
65
91
92
99
156
83
83
86
84
89
89
69
69
82
88
87
88
69
87
83
60
85
86
86
i End of month.
100
65
61
66
82.8
87.1
109.6
114.5
79
46
48
63
65
RQ
Q8
65
56
75
8*>
74
77
1
94.3
75.1
71.6
87.1
90.5
85.2
88.4
Adjusted for number of working days.
109.8
58.8
54 2
95.7
106.4
96 8
108.3
Value of
new passen- Emger-car sales ployUnad- Ad- ment
just- justed 2 ed 3
Commercial
failures
Pay
rolls
Fail- Liabilures ities
Monthly average 1929=100
Num- Thousands
ber of
dol.
168. 0 152.0
31.0 28.0
52.5
57.5
117.3 104. 5
122.9 104.5
100.4
75.2
75.1
85.4
90.6
61.9
55.5
69.0
76.9
1,375
669
651
22,980
14,318
12, 780
61.4
49.2
37.1
55.1
99.1
96.1
56.5
54.5
60.0
85.0
100.0
92.5
87.6
88.5
89.1
89.8
90.0
73.6
73.7
74.3
75.1
75.4
75.7
1,038
1,015
866
997
984
875
14,761
16, 382
14, 341
13,219
12, 302
36,528
70.8
71.2
106.7
106.3
107.1
101.2
87.7
91.0
96.0
88.0
79.5
79.0
79.0
81.0
88.3
87.9
87.4
87.3
87.2
88.1
88.1
75.5
74.6
74.7
74.8
74.9
75.7
76.0
1,263
963
1,123
1,140
1,122
952
917
19,122
12, 788
17,915
17, 492
14, 757
11,609
14,150
98.3
77.7
72.9
85.2
91.2
98.2
67.1
54.6
68.0
75.2
74.6
75.2
1,984
894
786
1,157
1,069
47, 605
20,133
14,313
21, 962
15,405
165.7
43.1
45.2
112.9
123. 6
66.1
93.0
87.7
3 Adjusted for seasonal variations.
9
SURVEY OF CURRENT BUSINESS
September 1939
Foreign Trade
NITED STATES foreign trade declined in July as
U
compared with June, partly as a result of seasonal
influences. Nevertheless, both the export and the import totals were above the July values of a year ago.
The value of imports has been higher in each month of
this year than in the corresponding month of 1938,
with the exception of February. The export trade was
smaller in value through May than in the comparable
period of 1938, but in June and July the export total
was higher than last year.
As in the preceding months of this year, merchandise
exports in July were larger in value than merchandise
imports, though by not so large a margin as last year.
The export balance for the 7 months ending with July,
of $382,000,000, though only slightly more than half
the figure recorded for the first 7 months of 1938, was
none the less a large balance for this period of the year.
The decline in the balance of merchandise exports in
comparison with last year has resulted in part from the
increased import trade this year, principally in crude
materials and semimanufactures. The value of total
imports for consumption was 15 percent higher in July
than in July last year; crude materials and semimanufactures increased 19 percent. This expansion in the
value of materials for domestic industries was approximately the same as the relative increase in the estimated value of industrial production in this country
over the same period.
Although total exports in July were above those of a
year ago, shipments of certain staple products were
much smaller than in July 1938, as they had been in the
earlier months of the year. The decline of $102,000,000
in exports of grains and preparations to a value of
$63,800,000 in the first 7 months of this year, and the
reduction in raw-cotton exports from a value of
$129,400,000 to $74,400,000 account for a substantial
portion of the decrease of $173,000,000 in the value of
total exports in the first 7 months of this year as compared with the corresponding months of 1938. The
lower level of prices also has been a contributing factor
in the reduced value of export trade this year.
Exports of manufactured products (including semimanufactures) advanced in July above the total of the
corresponding month of 1938 by a wider margin than
in May and June when the trade in these articles began
to rise above the declining totals of last year. July
shipments of these two economic classes amounting to
$177,351,000, an increase of 15 percent over the figure
of $154,058,000 last July, brought the cumulative total
for the 7-month period above the figure for the corresponding period of 1938. Exports of manufactured
foodstuffs, which were larger in value in the first half
of this year than a year ago, principally because of
increased shipments of packing-house products, also
showed an increase in July. The cumulative total of
$103,910,000 for manufactured foodstuffs exports in the
period January to July 1939 compares with the total
of $97,872,000 in January to July 1938.
EXPORTS AND IMPORTS
Indexes
Year and month
ExValue Value ports,
of
of
intotal total cludeximing
Total
ports, ports, reexad- 2 ad- ports
justed ! justed
Exports of United States merchandise
Crude maFinished manufactures
terials
Total
Un- Food- Semiman- stuffs, manufac- total ufactures Total
tured
cotton
Monthly average 1923-25= 100
1929: July
1932: July
1933: July.
1936: July
1937: July
1938:
July
August
121
32
43
54
3 114
3 36
3 31
3 50
3 68
3 68
3 62
ery
50.0
27.6
51.5
30.3
34.3
24.4
15.9
36.8
10.2
9.4
56.1
15.6
15.4
15.0
17.4
60.5
14.1
21.4
33.5
68.9
227.2
47.0
53.3
98.1
144.0
10.1
29.3
46.1
227.8
230.6
246.3
277.9
252.2
268.8
225.1
228.1
243.6
274.3
249.7
266.2
32.8
43.8
59.6
72.1
59.9
49.4
10.5
10.7
20.5
24.1
25.0
19.0
38.0
35.8
31.4
33.3
29.5
28.4
37.3
35.6
40.2
44.5
40.0
50.5
117.0
112.9
112.5
124.4
120.4
137.9
212.9
218.6
268.4
230.9
249.3
236.1
229.6
210.3
216.0
264.6
227.6
245.9
233.4
226.7
36.4
36.5
40.1
26.0
30.2
25.7
29.7
15.0
13.7
17.0
9.2
7.5
6.2
6.0
31.1
26.6
28.0
23.6
26.9
19.5
19.7
35.5
34.9
45.7
41.0
48.2
48.5
46.0
3 117 3,025.9 2, 972.3
3 37
946.8
923.9
3 32
813.4
798.5
534.2
268.4
258.8
307.3
345.9
309.7
224.6
344.2
177.4
177.5
160.8
185.2
129.4
74.4
420.6
142.8
95.5
107.1
119.3
274.6
175.4
3 49
3 56
SemiCrude
manmate- Foodstuffs
ufacrials
tures
and
Finished
manufactures
accessories
Millions of dollars
393.8
104.3
141.6
177.0
264.6
September
October
November
December
1939:
January
February
March
April
May
June
July
Cumulative January through
July:
1929
1932
1933
1936
1937
1938 . _ .
1939..
AutomoTotal
Mabiles,
chin- parts,
402.9
106.8
144.1
180.4
268.2
119
27
Imports i
1,335.4
1,804. 7
1,820.0
1, 645.7
1,312.5
1, 772.0
1, 796.7
1,624. 5
http://fraser.stlouisfed.org/
i General imports through December 1933; imports for consumption thereafter.
Federal Reserve Bank of St. Louis
2
16.9
29.4
353.0
79.4
143.0
197.5
262.9
119.0
19.5
46.5
56.1
78.0
75.9
26.3
38.8
60.1
77.5
71.8
11.9
31.0
42.7
59.0
86.2
21.8
26.8
38.6
48.4
39.7
39.5
36.6
38.7
34.6
40.9
17.5
12.3
14.2
17.3
25.4
29.2
147.8
171.1
172.9
178.5
171.7
165.5
43.2
49.5
52.4
53.7
52.4
53.5
44.1
49.5
49.1
48.4
46.8
44.0
29.6
35.0
33.6
35.8
35.2
35.3
30.9
37.0
37.9
40.6
37.3
32.8
107.4
118.1
150.9
137.0
140.5
139.7
131.4
31.2
34.6
49.4
43.9
44.4
42.2
43.7
21.4
25.3
28.5
24.9
23.8
20.4
18.5
169.3
152.5
191.2
185.8
194.2
178.4
170.5
53.9
48.1
59.5
54.9
62.3
54.7
50.0
43.4
41.6
54.5
49.1
51.9
50.2
49.6
37.2
34.0
38.8
37.9
39.9
38.6
36.9
34.9
28.8
38.4
43.8
40.4
34.8
33.9
443.4 1, 574.1
120.8
391.9
118.2
326.0
225.9
672.2
385.5
921.3
295.2
917.2
299.7
924.8
358.6
82.0
64.4
193.4
272.4
296.5
289.3
387.6
51.8
49.1
149.7
205.5
172.9.
162.8
2, 639. 4
826. 2
735.1
1, 350.8
1,884. 7
1,091.3
1,241.9
947.1
225.2
198.7
402.2
608.7
315.0
383.5
597.0
252.8
242.8
421.0
574.7
333.1
340.3
528.5
137.2
135.1
278.4
385.0
211.1
263.4
566.7
211.1
158.5
249.3
316.3
232.0
255.1
56.4
47.4
9.6
6.2
7.5
Adjusted for seasonal variations.
3 Monthly average of unadjusted indexes.
10
SUKVEY OF CURRENT BUSINESS
September 1939
Construction and Real Estate
UILDING construction continued active during
BAugust
with operations much higher than a year
residential awards in the first 7 months of the year
were publicly financed as compared with only 2 percent
ago. No basic change has occurred in the trends in the corresponding period of 1938. A somewhat
which were detailed in the review published in last larger proportion of nonresidential awards has been
month's issue.
publicly financed this year than last, although privately
In the first 3 weeks of August, the value of construc- financed construction has continued to account for
tion contracts awarded in the area covered by the more than one-half of all such work. For the public
Dodge reporting service declined slightly from the works and utilities classifications, all but about 11
July daily rate. The reduction occurred in privately percent of the work has been under public ownership
owned work as public projects were above the July this year, or almost as large a proportion as in 1938.
daily average. Awards were one-fourth larger than in
The Federal Housing Administration, reporting on
the corresponding weeks of August 1938. Total operations during its first 5 years, revealed that it had
awards for the month, however, may be little changed transacted a gross volume of business amounting to
from the total last August since a large volume of con- approximately 4 billion dollars, including rejections
tracts under the Public Works program was let in the and withdrawals amounting to about $700,000,000.
final days of August 1938.
Through June 30, 1939, the insurance of home mortFrom the beginning of July 1939 to the middle of gages under Title II of the National Housing Act
August, total construction awards amounted to $441,- accounted for $1,869,290,000. Under Title I of this
054,000, a gain of nearly 28 percent over the corre- Act private lending institutions advanced $839,560,000
sponding period of 1938, according to the F. W. Dodge in property improvement loans, and under the rentalCorporation. Kesidential building awards for the housing phase of the program, 313 mortgages totaling
same period were up more than one-fourth, nonresi- $126,369,000 had been accepted for insurance. Addidential building and public works, respectively, were tional applications for insurance amounted to over one
16 and 29 percent larger, while public utilities doubled billion dollars, of which $231,940,000 represented mortgages still in process, and $203,069,000 mortgages
in value of awards.
With the expansion in operations of the United States expired. The balance comprised rejections and withHousing Administration, about 11 percent of all drawals prior to insurance.
CONSTRUCTION, BUILDING MATERIALS, AND REAL ESTATE
Building-material shipments
Construction contracts awarded
Federal
Reserve
Year and month
1929:
1932:
1933:
1936:
1937:
1938:
1939:
AH t y p e s of
Residential
building
Nonres- Public
idential utili- Public2 Common
buildties 2 works brick
ing 2
index,
adjusted i
construction <
Monthly
average,
1923-25 =
100
Number of
projects
Millions of
dollars
Millions of
square
feet
124
27
21
59
67
16,601
7, 008
8,228
13, 890
15, 361
652.4
128.8
82.6
294.7
321.6
37.8
5.5
7.4
20.5
20.6
199.9
19.7
23.6
72.0
81.0
255.0
48.1
41.3
96.6
139.1
47.6
5.1
2.7
26.8
48.7
149.9
55.9
14.9
99.3
52.8
59
66
78
82
96
96
17, 648
18,770
16,926
19, 664
17, 772
16,027
239.8
313.1
300.9
357.7
301.7
389. 4
21.6
23.6
21.8
27.2
23.4
22.7
88.0
99.7
99. 6
112.7
95.3
91.5
72.6
87.3
92.0
131.0
116.0
139. 5
13.4
38.0
26.2
21.2
19.7
44.3
65.8
88.1
83.2
92.8
70.7
114. 1
86
73
69
67
63
63
67
13, 281
13,015
20, 233
22, 282
23,244
21,701
21,806
251.7
220.2
300.7
330.0
308. 5
288. 3
299.9
20.0
19.2
30.7
28.4
32.6
27.5
27.2
80.2
79.0
125.2
114.4
133.8
111.9
109.3
85.0
69. 5
97.8
94.7
76.7
92.8
88.5
126
28
18
54
62
54
71
15, 571
6,548
6,865
11,214
15, 270
14,380
19, 366
523. 5
113. 7
73. 5
218.9
259. 3
219. 2
285. 6
37.8
6.7
5.8
16.6
22.5
17.4
26.5
183. 9
26.1
19.5
58.1
85.3
69.6
107.7
209.9
44.5
33.0
84.5
100.9
72.3
86.4
July
July
July
July
July
July
August
September
October
November
December
January
February
March
April
May
June
July
Monthly average, January through July:
1929
1932
1933 __
1936
1937
1938
1939
_„. ...
Thousands
Millions of dollars
Lumber
Oak
flooring
Cement
Loans outstandConing
Realstrucestate
tion
forecosts
cloHome
(Engr. Home Owners*
sures
News- Loan
(nonLoan
bank
RecCorp. farm)
ord) 3
Month'
MonthThou- | ly av. ly avThous. sands
of!
erage,
erage
bd. ft. bd. ft. barrels 1913 = Thousands of dollars 1926
=
100
100
170,135
167,085
2,141
2,244
129,338
148, 809
142, 900
166,471
151,568
133,184
1,775
2,033
1,843
1,847
1,789
1,593
29.5
18. 5
19.6
35.3
21.8
10.0
23.1
57.0 101,056
53.1
95, 920
58.0 166, 380
85.6 178, 903
76.1 i 209, 716
73.6 199, 592
79.0
1,662
1,581
1, 995
1,828
2,117
2,061
1,959
43.6
5.7
3.5
15.9
25.5
19.9
22.5
86.1
37.5
17.5
60.3 4 118,272
47.5 U 158,751
57.3 |4 110,732
68.9 I4 158,595
1,959
2,134
1,572
1,886
20,319
9,218
8,697
11,823
12, 237
204 8
153.4
165.5
204.8
239. 9
53, 736
122,094
169, 568
2,921, 294
2, 524.129
280
232
10,164
11,823
11,716
12, 357
8, 573
6,281
232, 3
232.4
232.7
234.3
234.4
234.9
191, 889
189,415
189, 548
189,217
189, 685
198, 840
2, 248, 982
2, 234, 899
2,221,417
2, 203, 896
2,186,170
2,168,920
161
169
169
153
165
159
26,916
5, 640
27, 308 5,043
31, 951 8,467
30, 604 9,654
37,999 12,748
37, 401 12,715
11, 755
234.7
234. 3
234.4
234.9
234.7
235.0
234.9
178,852
170,614
161, 614
157,176
157,911
168, 962
161, 537
2,149, 038
2,134,261
2,117,598
2,105,824
2,091,324 I
2,080.512
2,067,844
154
154
173
164
186
168
158
12,938
6,217
5,232
8,435
9,254
7,968
9,432
206.7
156.1
161.4
203.0
230.0
237.3
234.7
30,123
28, 208
35,989
41,511
34,497
32,156
31, 560
27, 686
27, 394
32, 724
29,114
32,728
1
Based on 3-month moving average of values adjusted for seasonal variations; the averages, 1929-39, are computed from unadjusted indexes.
2
http://fraser.stlouisfed.org/
Data revised 1929-36; see note marked with a dagger (t) on p. 21 of the July 1939 issue.
3
4
Index
as of 1st of month; index for Aug. 1, 1939, is 234.9.
6 months average, January through June.
Federal Reserve Bank of St. isLouis
276
243
183
165
11
SURVEY OF CURRENT BUSINESS
September 1939
Trends in Wholesale Volume, 1929-38
By N. H. Engle, Assistant Director, Bureau of Foreign and Domestic Commerce
HE estimates of aggregate value and physical
Tvolume
of goods marketed at wholesale in the
United States, which first appeared in the May 1936
issue of the SURVEY OF CURRENT BUSINESS, have been
brought down through 1938, and revised for the years
since 1929. These estimates represent an attempt to
take the measure of the merchandise stream at the one
point where the values of the components are all on as
nearly the same plane as possible. This point is f. o. b.
place of production or port of importation (duties have
been added to the declared import values in the accompanying tabulation) and therefore measures the value
of the merchandise just as it enters wholesale distribution channels in the United States. This revision and
extension has been made to accommodate users of these
figures who have requested from time to time more
recent data.
The total value of goods marketed at wholesale
amounted to nearly 84 billion dollars in 1929. The
following years witnessed successive contraction to 35.3
billion dollars in 1932, the low point of the depression.
The turn came in 1933, which was nearly 2 billion dollars better than 1932. Steady improvement continued
through 1937, when the total reached 72.6 billion dollars. The recession of 1938 reduced the figure for that
year to but little more than 60 billion dollars.
The actual physical flow of merchandise into wholesale channels did not fluctuate so widely as did the
value of the merchandise because of the changes in
wholesale prices. Thus, the drop in the volume of goods
sold between 1929 and 1932 was but 38 percent, while
the value fell 58 percent. The recovery since 1932
carried the physical volume up to 95.5 percent of the
1929 high, although the dollar value reached but 86.5
percent of the 1929 level. Again the 1938 recession
was much less severe when measured by price deflated
figures, the physical volume index dropping but 9 percent from 1937 as compared with a loss of 17 percent
in the value index. The explanation, of course, lies in
the fact that wholesale prices change frequently and
fluctuate widely, thus coloring dollar value figures with
their own characteristics. The actual volume flow is
apt to be much steadier, a fact which the deflated value
index reveals.
The Wholesaling Concept
It will be recalled that these estimates constitute an attempt
to measure the volume of wholesale trade quantitatively at the
point where it first enters the channels of distribution in the
United States. Wholesaling, according to Beckman and Engle,
" Wholesaling, Princip^s and Practice," p. 25, "includes all marketing transactions in which the purchaser is actuated solely
by a profit or business motive in making the purchase." Attempts to measure wholesaling on the basis of this definition are
difficult, since inadequate data are available. The measure
included in these estimates taps the stream of wholesaling at its
source, where the component items are on a more nearly comparable basis, with less duplication than elsewhere. On this basis
the total volume in 1929 wras 83.9 billion dollars. In the same
year, the Census Bureau reported a total volume of wholesale
trade conducted by specialized wholesale establishments amounting to 69 billion dollars. The total volume of wholesale transactions or turn-over amounted to 139 billion dollars in 1929, a
figure which includes much duplication. Finally the very narrow
field of wholesale trade conducted by merchant wholesalers with
warehouses, salesmen, and full lines of merchandise, amounted
to but 29.2 billion dollars in 1929. (See chs. 2 and 6, abovementioned book.) All of these estimates have validity for
certain purposes. The estimate used in the SURVEY and brought
down to date is the only one available for a long series of years.
It is probably of greater utility as a basis for computing an index
than for the dollar volume estimates.
Estimated Aggregate Value and Physical Volume of Goods Marketed
at Wholesale in the United States, 1899 1938
Year
1
2
3
4
5
6
Aggregate
value
index
(1929 =
100)
Aggregate
value of
domestic
production
(millions
of
dollars)
Imports
for consumption
including
duties
paid
(millions
of
dollars)
Total
value of
goods
marketed at
wholesale !
Index of
value of
goods
marketed at
wholesale
(1929=
100)
Index of
wholesale
prices
(1929 =
100)
14,137
15,163
15,084
18,401
18,086
18, 243
20, 534
22, 666
23,772
21, 955
25, 746
27, 721
34,956
30,169
29, 774
29, 616
34, 828
45, 648
69,104
74, 474
74,790
92, 480
50, 782
59, 232
69, 420
65,155
71. 868
74, 632
71,473
76, 686
78,976
61,996
45, 625
33, 723
35,576
42, 884
51, 424
60, 812
69,073
57, 810
888
1,060
1,042
1,151
1,289
1,240
1,345
1,507
1,744
1,466
1,577
1,874
1,838
1,946
2,080
2,190
1,975
2,573
3,124
3,123
4,065
5,428
2,849
3, 525
4, 299
4,107
4, 728
4,998
4, 738
4,620
4,924
3, 576
2,459
1.584
1.717
1,937
2,396
2,832
3,480
2,251
...
_..
17.9
19.2
19.1
23.3
22.9
23.1
26.0
28.7
30.1
27.8
32.6
35.1
31.6
38.2
37.7
37.5
44.1
57.8
87.5
94.3
94.7
117. 1
64. 3
75.0
87.9
82.5
91.0
94.5
90.5
97.1
100.0
78.5
57.8
42.7
45.0
54.3
65.1
77.0
87.4
73.2
15, 025
16, 223
16,126
19, 552
19,375
19, 483
21,879
24,173
25,516
23,421
27,323
29,595
26,794
32,115
31, 854
31,806
36, 803
48, 221
72, 228
77, 597
78, 855
97,908
53, 631
62, 757
73,719
69, 262
76,596
79,630
76,211
81,306
83,900
65,572
48,084
35,307
37, 293
44, 821
53, 820
63, 644
72, 553
60, 061
Index of
physical
volume
of goods
marketed at
wholesale
(1929=
100)
(2+3)
1899
1900
1901
1902
1903
1904
1905
1906
1907
1908
1909
1910
1911
1912
1913
1914
1915
1916
1917
1918,
1919
1920
1921
1922
1923
1924
1925
1926
1927
1928
1929
1930
1931
1932
1933
1934
1935
1936.
1937
1938
7
(5-^6)
17.9
19.3
19.2
23.3
23.1
23.2
26.1
28.8
30.4
27.9
32.6
35.3
31.9
38.3
38.0
37.9
43.9
57.5
86.1
92 5
94.0
116.7
63.9
74.8
87.9
82.6
91.3
94.9
90.8
96.9
100.0
78.2
57.3
42.1
44.4
53.4
64.1
75.9
86.5
71.6
54.8
58.9
58.0
61.8
62.5
62.6
63. 1
64.8
68.4
66. 0
70.9
73.9
68.1
72.5
73.2
71. 5
72.9
89.7
123.3
137.8
145. 4
162.0
102.4
101. 5
105.6
102.9
108. 6
104.9
100.1
101.5
100.0
90.7
76. 6
68.0
69.2
78.6
83.9
84.8
90.6
82.5
32. 7
32.8
33.1
37.7
37.0
37.1
41.4
44.4
44.4
42.3
46.0
47.8
46.8
52.8
51.9
53.0
60.2
64. 1
69.8
67.1
64.6
68.9
62.4
73.7
83.2
80.3
84.1
90.5
90.7
95.5
100.0
86.2
74.8
61.9
64.2
67.9
76.4
89.5
95.5
86.8
1
Originally appeared in the Survey of Current Business, May 1936, revised August
1939.
12
SURVEY OF CURRENT BUSINESS
September 1939
Financial Aspects of Unemployment
Compensation Experience
By Louis Levine and E. R. Lerner, Division of Research and Statistics, Bureau of Employment Security, Social Security Board
T
HE widespread public interest in unemployment Senate Finance Committee, study was given to the
compensation experience of the Federal-State size of unemployment compensation reserves accumusystem was reflected in two points of view which were lating to the credit of individual States, with a conseexpressed during the recent Congressional hearings. quent pressure for a general reduction in contribution
The Special Senate Committee on Unemployment and rates. Table 1 summarizes the financial experience by
Relief evidenced interest as to the adequacy of unem- States as of June 30, 1939. Although most existing
ployment compensation benefits both with regard to State legislation provides for varying individual emamount and duration and the relation of the unem- ployer contribution rates (experience rating) in accordployment compensation program to other programs ance with past employment experience, adjustments of
affecting unemployed workers. Its proposals were such rates cannot become effective in most States for
directed toward liberalizing benefits by shortening the several years because of requirements in the Federal
waiting period, increasing the weekly benefit amount, act. Aside from these provisions, any State-wide
and lengthening the duration of benefits, through the reductions in contribution rates would, because of the
establishment of minimum standards in Federal legis- Federal tax-offset provisions, result in no net reduction
lation. The Social Security Act does not now pre- in contribution payments made by subject employers.
scribe standards for the States relating to various Since the employer is required to pay the difference
elements of the benefit formula.
between the State contribution rate and the 3-percent
In the House Ways and Means Committee and the Federal tax to the Federal Government, merely a
larger proportion of the Federal tax would flow into
the Bureau of Internal Revenue.
PER CENT
30 |
The considerations relating to liberalization of the
TOTAL UNEMPLOYMENT
benefit provisions on the one hand and reduction in
25
contribution rates on the other, resulted in the proposal of the so-called Massachusetts or McCormack
Plan to the House Ways and Means Committee, which
was incorporated in H. R. 6635. This plan made
State-wide reduction in contribution rates possible by
allowing additional credit in tax-offset provisions of
the Federal Act. As a prerequisite to State-wide rate
reductions, a State must have accumulated a reserve
equivalent to IK times its largest annual contributions
or benefit payments, whichever was higher in the preceding 10 years, and at the same time have met certain
AMOUNT OF BENEFIT CHECK
minimum standards for benefit provisions relating to
waiting period, amount and duration of benefits, and
PARTIAL UNEMPLOYMENT
partial unemployment benefits. The proposals regarding the establishment of minimum benefit standards in
the Federal act as a condition to additional credit
under the tax-offset provisions if State contribution
rates were reduced, represented a new approach to the
problem of financing unemployment compensation.
Although the Massachusetts plan was not enacted, the
conference committee's report stated that a comprehensive study of the subject matter should be undertaken.
The proposal to limit unemployment compensation
contributions to the first $3,000 of annual wages was
enacted. This limitation, already in effect in old-age
AMOUNT OF BENEFIT CHECK
insurance, provides a uniform tax base for both social
Figure 4.—Distribution of Number of Benefits for Total and Partial Uneminsurance programs insofar as coverage is the same.
ployment, by Amount of Benefit Check, April-June 1939.
13
SURVEY OF CURRENT BUSINESS
September 1939
It is estimated that this new limitation, if adopted by
all States, would result in savings to employers and a
reduction in unemployment compensation revenues of
approximately $65,000,000, or about 7.5 percent of
total annual contributions.
The Federal-State program of unemployment compensation, coordinated with employment service facilities, is the permanent Federal program aimed at meeting the problem of intermittent unemployment. Consequently, the unemployment compensation program
Table 1.—State Unemployment Compensation Funds Available for Benefits, Cumulative Collections and Interest, and Benefits Charged, by States Collecting Quarterly, as of June 30, 1939
[Amounts in thousands]
Total funds available
for benefits as of June
30, 1939
Month and year
benefits first
payable
State
Amount i
Total, all States. _
Index 2
Cumulative
collections
and interest
credited as
of June 30,
1939. Total
collections
and interest 3
Relation of payments to contributions
(percent)
Benefits charged
Collections,
JanuaryJune 1939 4
Cumulative
total
through
June 30,
1939
JanuaryJune 1939
Total benefits to
cumulative
collections
and interest
Cumulative
payments to
contributions 1939 benefits
received
*t to 1939
since bene- contributions
fits first
payable
$1,139,376
135.4
s $1, 764, 444
$367, 527
$625,068
$229,135
35.4
73.5
62.3
956, 695
136.1
1, 500,420
316,151
543,725
204, 716
36.2
76.3
64.8
9,514
842
2,248
6,135
127, 242
107.6
95.1
111.6
115.6
189.4
19, 884
1,067
4,988
7,135
171, 216
4,250
172
1,124
1,756
38,422
10, 370
225
2,740
1,000
43, 974
2,242
225
838
1,000
20, 259
52.2
21.1
54.9
14.0
25.7
96.4
130.8
94.2
56. 9
43.7
52.8
130.8
74.6
56.9
52.7
January 1939
January 1938January 1939.__ _. . . . . d o
September 1938..
9,467
21, 743
4,773
12, 698
2,412
105.8
142.1
121.9
128.6
80.2
11,626
37, 052
5,171
13,473
4,581
2, 565
8,294
1,202
3,462
972
2,159
15, 309
398
775
2,169
2,159
3,055
398
775
1,802
18.6
41.3
7.7
5.8
47.3
84.2
72.3
33.1
22.4
144.0
84.2
36.8
33.1
22.4
185.4
April 1938.
July 1938..
January 1939-.
do.
_-..
January 1938_.
27,262
12, 051
11,629
21, 970
2,556
100.6
120.9
114.2
116.0
68.0
49, 965
18, 327
13,148
24, 974
9,041
10,495
4,160
2,831
5,782
2,022
22, 703
6,276
1,519
3,004
6,485
6,395
3,690
1,519
3,004
1,950
45.4
34.2
11.6
12.0
71.7
102.7
77.5
53.7
52.0
125.0
60.9
88. 7
53.7
52.0
96.4
July 1938__--_.
January 1938..
April 1938.---
12, 095
60, 965
44,479
18, 224
3,429
133.5
145.9
70.3
152. 8
117.6
25, 588
98,193
100, 938
31,618
5, 726
6,047
18, 660
22, 817
7,127
924
13, 493
37, 228
56,459
13, 394
2,297
3,349
10,129
16,556
5,233
52.7
37.9
55.9
42.4
40.1
83.3
68.2
154.4
69.8
84.5
55.4
54.3
72.6
73.4
95.5
January 1939do_.
do
do.
December 1938-.
41, 833
8, 336
1,598
81,419
2, 594
122.9
117.7
104.6
122.1
105.5
44,498
9,198
2,020
90, 243
3,240
9,986
2,023
472
22, 656
727
2,665
862
422
8,824
646
2,665
862
422
8,824
637
26.7
42.6
89.4
38.9
26.7
42.6
89.4
38.9
87.6
January 1938..January 1939..-.
December 1938..
January 1938
d
South Dakota
January 1939.
January 1938
Tennessee __do
Utah
.-.__.-....
do
Virginia
January 1939.
Washington 7
....-do
..
Wyoming
143,977
114,389
12, 950
78, 952
7,656
2,292
10, 781
2, 615
13, 924
19, 269
2,376
146.4
116. 9
102.4
111.9
96.4
276, 491
126, 875
15, 770
182, 393
19, 769
48, 404
27, 668
2,340
39, 331
3, 426
132, 514
12, 486
2,820
103, 441
12,113
45,183
12, 486
2,749
31, 895
2,820
6.0
9.4
20.9
9.8
19.9
47.9
9.8
17.9
56.7
61.3
76.3
45.1
97.3
94.7
104.5
93.3
45.1
117.5
81.1
82.3
115.9
138. 6
102.1
166. 4
102.0
99.0
2,582
19, 306
6,083
22, 204
22, 902
3,135
578
4,465
1,351
5,159
3, 776
705
290
8,525
3,468
8,280
3,633
759
290
2,381
1,006
2,644
3,633
759
11.2
44.2
57.0
37.3
15.9
24.2
50.2
75.9
100.7
61.5
96.2
107.7
50.2
53.3
74.5
51.3
96.2
107.7
States collecting monthly, total
_.
States collecting quarterly, total.
Alabama 6 . „
Alaska
Arizona
-Arkansas, 6
California . - -
_
Colorado
Connecticut
Delaware...
Florida
Idaho
January
_- January
January
January
January
Indiana
Iowa
-Kansas. 6
Kentucky _._
Maine
Maryland
Massachusetts
Michigan.-Minnesota. 7
Mississippi
1938
1939
1938
1939
1938
.do-
8
Missouri
Nebraska.-.--.
N evada
NewTT Jersey 6 -.
New Mexico._
New York 7-Ohio
_.
Oklahoma. - . . .
Pennsylvania 6
Rhode Island .-__-
182, 681
153.9
264, 024
51, 376
81, 343
24, 419
30.8
58.4
47.5
District of Columbia. -. January 1938.
Georgia
January 1939.
Hawaii 6
do
Louisiana - _
January 1938.
8
New Hampshire
.-.--do
--_
13, 634
18, 708
4,039
14, 462
4,814
231.3
120.7
124.3
189.0
113.4
16,159
20, 207
4,127
21,995
8,418
3,558
4,506
833
5,025
1,283
2,525
1,499
88
7, 533
3,604
853
1,499
88
3,526
872
15.6
7.4
2.1
34.2
42.8
25.5
33.3
10.6
54.0
89.5
24.0
33.3
10.6
70.2
68.0
North Carolina
North Dakota
Oregon
South Carolina...-Texas
.do..
January 1939January 1938July 1938._.__
January 1938.
14,169
2,081
6,644
9,095
38, 986
150.5
109.7
113.5
145.1
197.4
25,105
2,457
15, 294
10, 877
54, 221
5,544
535
3,226
2,318
11, 663
10,936
376
8,650
1,782
15, 235
2,720
376
2,733
1,187
5.891
43.6
15.3
56.6
16.4
28.1
71.4
70.3
93.6
40.3
45.6
49.1
70.3
84.7
51.2
50.5
_do_.
.doJuly 1936.
2,467
9,840
43, 742
174.7
96.5
144.4
3,652
24, 241
57, 271
763
4,865
7,257
1,185
14, 401
13, 529
363
2,336
1,975
32.4
59.4
23.6
54.4
104.4
9 48.4
47.6
48.0
27.2
_.
Vermont
West Virginia _
Wisconsin
1
Represents sum of balances at end of month in State clearing account, benefit-payment account, and unemployment trust fund account maintained in the IT. S. Treasury.
2 For all States except Wisconsin, index is based upon funds available for benefits as of end of month prior to that in which benefits were first payable; Wisconsin index is
based
on funds available as of Dec. 31, 1937.
3
Includes refund of $40,561,886 by Federal Government to 13 States, Alaska, and Hawaii, collected on pay rolls for year 1936 under title I X of the Social Security Act.
4
Employer
contributions of 2.7 percent are collected in all States except the District of Columbia, Michigan, and New York. In these States the rate is 3 percent.
5
Does not include collections and interest of $154,175,000 for Illinois and $6,224,000 for Montana, because benefits not payable until July 1939.
6
Employee contributions of 1 percent are collected in Alabama, California, Kentucky, and New Jersey; of 0.5 percent in Louisiana; and of 1.5 percent in Rhode Island.
Employee
contributions in Massachusetts were suspended from July 1, 1938-June 30, 1939.
7
Mississippi, New York, and Washington changed to a quarterly collection basis as of Apr. 1, 1939.
8
New Hampshire will make quarterly collections as of July 1, 1939, although some contributions have already been made on that basis from selected employers.
9
Based on contributions received and payments charged since January 1938.
14
SURVEY OF CURRENT BUSINESS
should be viewed as a long-range approach to the unemployment problem with regard to present needs and
future obligations. This consideration, perhaps more
than any other, led the Social Security Board to point
out that unemployment compensation experience was
so limited as to provide no satisfactory basis for reducing
contribution rates, especially when increasing recognition of the need for more adequate benefits is becoming
widespread.1
Unlike many other forms of social insurance, unemployment compensation is highly dynamic, because it
must be adjusted to a changing labor market in which
sharp employment fluctuations occur within relatively
brief periods of time. Since the unemployment risk is
current, the necessity for providing a reserve against
the time when the unemployment fund will experience
severe drains has never been questioned. The unemployment compensation reserve fund is regarded as a
contingency reserve to meet the impact of unemployment during periods of declining business without
having to reduce benefit payments or increase current
contribution rates. This view of the unemployment
compensation reserve explains the provisions in the
Federal act which required that contributions be
collected for 2 years before benefit payments were
inaugurated. If the concept of the unemployment
compensation reserve is sound, it may be questioned
1
Figure 4 shows the distribution of weekly benefit amounts.
MILLIONS
1200
September 1939
whether the financial structure of unemployment compensation should be greatly modified before experience
extending over a period equivalent to that comprehended by the business cycle is accumulated. When,
in addition to the need for a reserve, account is taken
of the wide diversity in economic resources and patterns
of employment among the several States, the desirability
of a cautious approach to general downward revisions
of contribution rates becomes even more evident. In
this connection, a review of the brief history of the
unemployment compensation system is illuminating.
By the middle of 1937, all States, the District of
Columbia, Hawaii, and Alaska had enacted unemployment compensation laws, but only Wisconsin, which
had begun benefit payments in July 1936, had experience
with both contribution collections and benefit payments. Not until January 1938, when benefits became
payable in 22 additional States, did the comprehensive
unemployment compensation program begin to get
underway. Other States entered the benefit-paying
group at different times during 1938, so that by the
close of the year 31 jurisdictions were paying benefits.
In January 1939, 18 others began paying benefits. Illinois and Montana, the remaining 2 States, began in July.
The financial experience in unemployment compensation can be examined best by analyzing the records of
23 States which have paid benefits for at least 18
months. Figure 5 shows the summary experience, and
OF DOLLARS
1000
800
600
EXCESS OF CONTRIBUTIONS OVER PAYMENTS
400
200
^v:vx ; ^ FUNDS AVAILABLE FOR BENEFITS AS OF DEC. 3 1 J 9 3 7 v v ; / ; • : • > < ; / > : :
FEB.
1937
MAR.
APR.
MAY
JUNE
JULY
1938
AUG. SEPT. OCT.
NOV.
DEC.
JAN.
FEB.
MAR.
APR.
1939
MAY
JUNE
D.D. 39-2/4
Fifture 5.—Unemployment Compensation: Cumulative Collections and IntercNt. Cumulative Benefit Payments, and Funds Available for Benefits, as
of End of Month in 23> States, January 1938-June 1939.
figure 6 the quarterly experience of these States. At
the close of December 1937, these States 2 had approximately $450,000,000 available for benefits with over
half of this amount credited to 3 States—California,
New York, and Pennsylvania. Table 2 lists the
States and the amount of funds available for benefits
in each, prior to January 1, 1938. Except for relatively
small amounts in transit or on deposit in State clearing
accounts, practically all of these funds had been deposited with the United States Treasury in the unemployment trust fund to the credit of the respective
State unemployment compensation agencies. In addiTable 2.—Funds Available as of December 31, 1937, for States Paying
Benefits as of January 1938
States paying benefits as of January
1938
Total
_.
__
Dec. 31, 1937 Dec. 31, 1938 June 30, 1939
$450,098,446
$576,613, 707
$661, 250, 518
8 838 347
2,013,866
67,172,761
15.304,439
5, 893, 882
7,402, 606
1,937.097
107, 635, 982
16, 266, 321
10,782,160
9,514,383
2, 247, 688
127, 241, 588
21, 743, 495
13, 634,414
Louisiana
Maine
Maryland ._
Massachusetts
Minnesota
7, 651. 654
3, 758, 947
9,057, 378
41,775.282
11, 923, 982
12, 804, 802
2, 455, 727
9,269,231
51.730,133
16,127, 426
14,462,113
2, 556,122
12, 095, 074
60, 964, 705
18, 224,356
New Hampshire
New York
North Carolina
Oregon
. __
Pennsylvania
4, 247, 390
98, 362, 706
9, 412, 835
5, 855, 276
70,539, 642
4, 350,160
138,959, 357
11,195.373
6,079, 756
70, 585,021
4,813,598
143, 976, 850
14,168,922
6, 613. 952
78, 951, 890
7, 939. 285
7, 775, 930
19, 752, 701
2,560,109
1,412,106
6, 960, 286
8, 577,009
32,782,512
2, 240, 445
2,041,928
7, 655, 764
10,781,183
38, 986, 245
2,615,421
2. 467, 026
8 367 459
10, 199,770
30 282 699
11, 253, 882
7, 216, 963
37 959 530
13, 924,097
9. 839,547
43, 742. 085
Virginia
West Virginia. _
Wisconsin
_ _
_ .
_ _
creased benefit payments which would have been paid
to unemployed individuals had the entire employment
experience during the period normally used for calculating benefit rights been available to State agencies.
If all States had paid benefits throughout the year, it
is estimated that an additional $225,000,000 would
have been paid out even on the basis of the incomplete
period of earnings. Moreover, it is not improbable that
if certain States lacking diversified industries had paid
benefits throughout the year, their funds would have
been almost depleted.
During the first 6 months of 1938, the 23 States paid
out approximately $176,000,000, or an average of about
$29,400,000 per month.3 Payments by these States
Funds available for benefits as of—
Alabama
Arizona
California
.
Connecticut
District of Columbia
Rhode Island .
Tennessee . _
Texas
Utah
Vermont
15
SURVEY OF CURRENT BUSINESS
September 1939
MILLIONS OF DOLLARS
| 501
125
IOO
25
June
Sept.
1938
V777A Contributions
March
Dec.
March June
1939
Benefits
Figure 6.—Unemployment Compensation Benefit Payments and Contributions Collected in the 23 States Paying Benefits Since January 1, 1938,
by Quarters.
NOTE.—The data on contributions collected represent the amounts the States have
tion to the deposits of contributions, the State agencies collected
from employers and employees. Except for the District of Columbia,
York, and Wisconsin, the employer State contribution rate was 0.9 percent in
are credited with interest earned on such funds which New
1936; 1.8 percent in 1937; and 2.7 percent of taxable wages in 1938 and thereafter.
Employee contributions were collected in 1936 in three of these States for all or a
by January 1, 1938, amounted to $6,500,000.
portion of the year; in 1937, six States; in 1938, five States; and in 1939, four States.
The decline in employment during the latter half of
1937 was one of the sharpest experienced in this country, were made at the rate of 88 cents for each dollar of
with the volume of unemployment still increasing when contributions received during this period. In some of
benefits first became payable in January 1938. More these States, however—especially in Maine, Rhode
than 2 million claims were filed during the first month, Island,4 Utah, and West Virginia, where a few industries
and with employment opportunities restricted, many determine the State employment pattern—severe
unemployed workers were destined to draw benefits drains were made on the funds. (See figure 7 showing
until their wage credits were exhausted.
the cumulative experience of West Virginia.) Current
It was subsequently contended, therefore, since un- disbursements of benefits far exceeded current collecemployment compensation funds remained solvent tion of contributions in these States. Maine paid out
despite the severe drains, that some consideration might $2.07; Rhode Island, $1.65; Utah, $1.87; and West
reasonably be given to a reduction in the contribution Virginia, $1.84 for each $1 in contributions received
rates. In this connection, there is a tendency to over- during this period. By the end of June 1938 funds
look the fact that benefits paid in 1938 did not represent available for benefits in these 4 States had been reduced
what the benefits would have been in that year if all to between 65 and 75 percent of the reserves wlrieh had
States had been paying benefits and if the employees been accumulated prior to the initiation of benefit
covered by the State laws had had complete employ- payments. In other words, about half the contribument experience to have established their full benefit
3
Because of waiting-period requirements, only negligible amounts were paid out
rights. No accurate estimate can be made of the in- in January 1938.
2
Wisconsin by the end of December 1937 had paid out about $2,263,000 in benefits.
4
Rhode Island, unlike most States, has an employee contribution which by the
end of June 1938 amounted to $3,443,000.
16
SURVEY OF CURRENT BUSINESS
September 1939
tions collected on pay rolls covering nearly 2l/2 years payments in New York, pending clarification of adminwere paid out for benefits in a little more than 5 months.5 istrative procedures. The major reasons underlying
Although these States experienced the most severe the reduction in benefit payments, however, w^ere the
drains, New Hampshire, Oregon, Alabama, Arizona, exhaustion of wage credits by workers who had drawn
Tennessee, Connecticut, and Maryland also had to the maximum amounts allowed under the State laws,
draw substantially upon their reserves in order to meet and the reemployment of claimants during the fall imbenefit-payment obligations. In sharp contrast with provement in business activity.
An instance reflecting a rapid decline in reserves is
MILLIONS OF
afforded
by Michigan, which began to pay benefits in
TEXAS
DOLLARS
July
1938.
In that State, despite the expansion of pro60
duction in its major industries, benefit payments far
exceeded contributions, with nearly $3 in benefits being
50
paid for each $1 in contributions received during the
latter half of 1938.6 By the end of 1938, Michigan's
COLLECTIONS
reserve had been reduced about 40 percent, or, expressing this another way, 5 months of benefit payments
40
approximated over half of the collections made at the
graduated contribution rates for a 33-month period.
Other States in which the reserve at the end of 1938
30
was 10 percent or more below the amount of funds
EXCESS OF CONTRIBUTIONS
available when benefit payments first began w^ere Rhode
Island,7 West Virginia, Alabama,7 Indiana, Maine, and
Utah. Substantial increases in reserves, on the other
hand, had been accumulated by the close of the year
in the District of Columbia, Louisiana,7 New York,
Texas, Vermont, and California.7
Benefit payments by the 31 benefit-paying States
during 1938 totaled more than $394,000,000. Of this
amount, $332,500,000 was accounted for by the 23
WEST VIRGINIA
i
i
i
r
i
States
in which benefits were paid throughout 1938.
30 I—r
In these States, 74 cents in benefits was paid for each
$1 in contributions currently received.
COLLECTIONS.
The States initiating benefit operations in January
1939 began under conditions quite different from those
prevailing in January 1938. Employment w^as at a
higher level, procedures had been worked out carefully
on the basis of the experience of earlier benefit-paying
States, and personnel had been better trained. Aggregate payments for the 49 benefit-paying jurisdictions
DEC. 31
during the first 6 months of 1939 totaled $229,100,000
with monthly payments averaging $38,200,000. The
P.P. 39-2/J
18 new jurisdictions accounted for 33 percent of the
Figure 7.—Unemployment Compensation: Cumulative Collections and
Interest, Cumulative Benefit Payments, and Funds Available for Benetotal
paid out during the first half of this year. In all,
fits in Texas and West Virginia. January 1938-June 1939.
about 62 cents was paid out for each $1 in contributions
the experience of these States was that of the District collected during this period. Benefit payments for the
of Columbia, Louisiana, Texas, and California, which group of 23 States during the first half of 1939 continued
added substantial amounts to their reserves because at the same level as in the last half of 1938.
Improving employment conditions during the first
contributions currently exceeded benefit payments.
half of 1939 are reflected in table 3, which shows changes
(See figure 7, showing the Texas experience.)
In the second half of 1938, the drain on funds was in the status of funds of the 49 benefit-paying jurisdicsomewhat reduced, with payments by the 23 States tions for the first 6 months of the year. Idaho was the
averaging about $26,000,000 per month, as compared only State in which the funds available for benefits
6
with $29,400,000 in the first 6 months of 1938. Part
The ratio was somewhat inflated because Michigan shifted to a quarterly collecof the decline was attributable to partial suspension of tion basisTon July 1,1938. During the period July-December 1938, therefore, contri5
The full employer contribution rate of 2.7 percent did not go into effect until
January 1938. These States had employer contribution rates of 0.9 and 1.8 percent
of pay rolls for 1936 and 1937, respectively. In Rhode Island, the contributions of
both employers and employees were equivalent to 2.8 and 4.2 percent of pay rolls for
the years 1937 and 1938, respectively.
http://fraser.stlouisfed.org/
Federal Reserve Bank of St. Louis
butions w ere collected on pay rolls for June through September in addition to some
delinquent receipts, but no contributions were received on fourth-quarter pay rolls
until January 1939. The ratio is therefore based on 5 months of payments (only a
negligible volume of payments being made in July), and more than 4 months of
collections.
7 These States had employee contributions.
SURVEY OF CURRENT BUSINESS
September 1939
were reduced significantly during the first 6 months of
1939. On the other hand, Rhode Island and West
Virginia, which had drawn on reserves rather heavily
in 1938, increased their reserves throughout the period,
and by the end of June the total was within 5 percent
of the reserve available when benefits first became
payable. In Maine, however, little recovery from the
1938 drain on reserves occurred.
In the year and a half ended June 30, 1939, during
Table 3.—Funds Available for Benefits, by States, as of December 31,1938,
and June 30, 1939
[Data corrected to Aug. 16,1939]
States
Total..
Alabama
Alaska
..__
Arizona
Arkansas
California
Colorado
Connecticut
Delaware
District of Columbia.
Florida
Georgia
Hawaii
Idaho
Illinois....
Indiana
Iowa
Kansas
Kentucky.
Louisiana..
Maine
Funds available for benefits as
of—
Percentage
change
Dec. 31, 1938
June 30, 1939
$987,912,801
$1,139,396,302
7, 402, 606
884, 607
1,937,097
5,309,341
107, 635,982
8,944,314
16, 266,321
3,915,184
10, 782,160
9, 870,515
9,514,383
842,055
2, 247,688
6,134,933
127,241,588
9,467,417
21, 743, 495
4,772, 801
13, 634, 414
12,697,613
+15.3
+28.5
-4.8
+16.0
+15.5
+18.2
+5.8
+33.7
+21.9
+26.5
+28.6
15,501,562
3, 249,383
3,211, 246
18,708,085
4,049,037
2,411,962
+20.7
+24.6
-24.9
22, 855, 789
11,445,979
10,180, 746
18,936,338
12, 804, 802
2,455, 727
27, 261, 857
12,051,441
11, 628, 559
21,969, 568
14,462,113
2,556,122
+19.3
+5.3
+16.0
+12.9
+4.1
Maryland
Massachusetts
Michigan
Minnesota
Mississippi
Missouri
Montana
Nebraska.,
Nevada
New Hampshire..
9, 269, 231
51, 730,133
37, 723, 004
16,127,426
3,347,137
34,035,738
12,095,074
60,964, 705
44,477,330
18, 224,356
3,428,946
41,845,190
+30.5
+17.9
+17.9
+13.0
+2.4
+22.9
7,081. 592
1, 528, 287
4,350,160
8,336,384
1,598,110
4, 813,598
New Jersey
New Mexico
New York
North Carolina..
North Dakota...
Ohio
Oklahoma
Oregon
Pennsylvania....
Ehode Island
South CarolinaSouth Dakota. _
Tennessee
Texas
Utah
Vermont
Virginia
Washington
West Virginia...
Wisconsin
Wyoming
66, 690, 639
2, 472,068
138,959,357
11.195,373
1, 897, 266
97, 884,134
13, 202,196
6,079, 756
70, 585, 021
6,960, 286
81,419,230
2,593, 528
143,976, 850
14,168,922
2,080, 807
114,388,617
12.950, 267
6, 643, 952
78.951, 890
7, 655, 764
7, 862, 700
1,977,066
8, 577,009
32, 782, 512
2, 240, 445
2, 041,928
11,253,882
18, 890,971
7, 216,963
37,959, 530
2, 401, 292
9,095,126
2, 292, 032
10, 781,183
38,986, 245
2, 615, 421
2,467, 026
13,924,097
19, 268,639
9, 839, 547
43, 742, 085
2,376, 250
+17.7
+4.6
+10.7
+22.1
+4.9
+3.6
+26.6
+9.7
+16.9
-1.9
+9.3
+11.9
+10.0
+15.7
+15.9
+25.7
+18.9
+16. 7
+20.8
+23.7
+2.0
+36. 3
+15. 2
-1.0
+14.2
which 49 agencies paid benefits for a varying number
of months, over $625,000,000 had been paid to unemployed individuals. About $236,000,000 of the total
was paid in two States—New York and Pennsylvania.
Despite this necessarily limited analysis of the brief
unemployment compensation experience, several observations having a bearing on considerations relating to
modification of the financial structure may be made.
The extreme differences in the financial drains within
the same period clearly indicate that the problem of
173409—39
3
17
the unemployment compensation reserve can be solved
only by careful analysis of the labor market and employment pattern of the area to which an unemployment compensation plan applies. (See table 4, which
gives a comparison of receipts and payments.) Since
the reserve is determined by the inflow of funds (contribution rate related to pay rolls) as compared with
disbursements in the form of benefit payments (related
to levels and trends of unemployment), any modification of the financial structure must give consideration
to both influences. The differences among the States
in the condition of their reserves after a year and a
half of benefit experience bear a close relation to fluctuation in employment and earnings of workers in those
States. Benefit payments in the first few months of
1938 were frequently made to workers who had become
unemployed during the latter months of 1937 and had
failed to be reemployed. Consequently, it is difficult
to draw an exact relation between employment fluctuations and benefit payments during this period. The
initial stages of benefit payments are always influenced
by a backlog of unemployment already accumulated.
Unfortunately, adequate employment and pay-roll
data by industries and by States for purposes of this
analysis are not now available for an extended period.
As part of the information needed in connection with
administration of unemployment compensation laws,
the State agencies have been obtaining these data
from subject employers. The Social Security Board
has provided in its statistical reporting program for the
collection, tabulation, and analyses of these employment and pay-roll data. This information is now
available by months for 1938 from almost all States.
An examination of these reports reveals wide variations in the stability of employment among the States
during 1938. Those States which added large increments to their reserves during the period of benefit
payments were also the States where the declines in
employment were least marked. During the first
half of 1938, for example, employment in the District
of Columbia, California, Louisiana, and Texas
remained at relatively high levels. It is quite probable
that were data available for a longer period, such
slight declines as did occur would be found to be
essentially seasonal in character. In contrast to this
experience, steady declines in employment occurred
from the already greatly reduced levels reached at the
close of 1937 in the States confronted with severe
drains on reserves. Furthermore, while fairly sharp
State-wide reductions were registered in many instances
during the first half of 1938, the declines in some of the
major industries were somewhat more pronounced.
In Rhode Island, for example, average employment
during the first 6 months of 1938 was 20 percent lower
than for the corresponding period of 1937. Employment in textile mills in 1938, however, representing
nearly a third of total employment in the State, was,
18
SURVEY OF CURRENT BUSINESS
during the first 6 months of 1938, 24 percent below
the monthly average for 1937. The decline in the level
of employment would be even more sharply emphasized,
if comparison could be made with the first half of 1937
for which data are not available. In Maine, over half
of the employment is concentrated in manufacturing,
which is dominated by the textile, paper, and shoe
industries. These groups comprised about 40 percent
of total employment in this State. Employment in
textile and paper declined almost continuously throughout the first 6 months of 1938, the average for the
last 3 months representing a decrease of 14 percent from
January. Although the shoe industry showed a relatively sharp pick-up in the spring months, employment
in this industry had receded to the low point for the 6
months, by June.
The Utah experience reflected mainly the steady reduction of employment in the metal mines and in the
railroad industry. The level of employment in metal
mining during the first half of 1938 was 15 percent
below the corresponding period in 1937. In West
Virginia, the pattern of employment is dominated by
bituminous mining, chemicals, stone, clay, and glass,
and the iron and steel industries, these groups comprising over half of the employment in the State.
Rather sharp reductions in employment occurred in
these groups in the fourth quarter of 1937, but decreases were most pronounced during the first half of
1938. Employment in the bituminous-coal industry
was nearly 14 percent lower than in the first half of
1937; in chemicals, 34 percent lower; in stone, clay,
and glass, 26 percent lower; and in iron and steel the
decrease amounted to nearly 17 percent. Wage losses
were even more pronounced, particularly in the coal,
September 1939
iron, and steel industries, where spread-work programs
had been developed, wliich accounted for a considerable
volume of benefits for partial unemployment.
In State systems of unemployment compensation,
therefore, the size of the reserve must be determined
by the character of the employment pattern in a given
State. This approach clearly indicates that certain
States with stable or expanding employment may look
forward to a reduction in contribution rates, but only
if provisions for adequate benefit payments have been
made. In other States the present 2.7 percent of
pay rolls may prove to be inadequate to meet the
drains resulting from sharp and frequent fluctuations in
employment, especially if industrial diversification is
lacking and if benefit payments are liberalized.
A plan which permits variations in contribution rates
among the several States gives rise to a serious difficulty in that it may develop competitive disadvantages
between States and industries and so destroy the major
objective of the tax-offset device. An equally important consideration is that such a plan tends to perpetuate existing benefit standards, if not to lower them, so
that rigidities are introduced in a system which should
be characterized by flexibility. Finally, such a plan
makes difficult the establishment of some kind of broad
equalization or reinsurance scheme to assure the continuation of benefit payments in States where severe
unemployment, occurring during certain phases of the
business cycle, might quickly exhaust the fund which
had been accumulated to meet just such an emergency.
Indeed it may be contended that a prerequisite to
reduction in contribution rates might well be the creation of an equalization fund for reinforcing the solvency
of State systems.
Table 4.—Comparison of Contributions Deposited and Benefits Charged, by Quarters, January 1938-June 1939, for 23 States in Which Benefits Were Payable in January 1938
[In thousands]
Total J a n u a r y
1938-June 1939
State
Total
Alabama
Arizona
California
Connecticut
District of Columbia
Contributions
Benefits
JanuaryMarch 1938
Contributions
Benefits
April-June
1938
Contributions
Benefits
July-September 1938
Contributions
Benefits
October-December 1938
Contributions
Benefits
JanuaryMarch 1939
Contributions
Benefits
April-June
1939
Contributions
Benefits
523
8,231
1,858
1,348
1,322
361
2,904
3,767
240
1,854
244
16,962
3,642
1,815
2,644
600
6,974
3,7:
571
1,835
516
18, 300
3,62:
1,508
2,512
518
7,076
3,386
436
1,852
501
18, 668
3, 75:
1,691
340
921
2,399
5,645
1,200
2,192
900
2,456
10, 658
3,234
1,160
1,668
3,355
7,115
3,661
2,232
917
2,727
10, 83S
3,406
1,332
974
2,681
8,991
1,
2,294
99"
2,750
8,300
3, 586
1,004
693
32, 985 38, 340
3, 3Q1 2,491
2,33^
1,581
22, 490 17, 986
674
26, 518
2,299
1,184
21, 628
1,650
423
6,761
1,321
426
JanuaryJune
1938
Janu- January
ary-De- 1938cember June
1939
1938
87.6
74.3
71.7
2,027
531
17, 824
3,911
1,658
1,125
408
10, 518
1, 340
346
140.6
125.3
39.2
137.2
25.6
124.9
106.6
38.2
95.1
26. 3
96.4
94.2
43.7
72.3
25.5
2,399
956
2,759
8,864
3,292
1,710
883
1,519
5,109
2,078
34.2
206.8
123.0
75.9
95.8
44.9
143.2
99.9
75.4
67.6
54.0
125. 0
83.3
68.2
512
771
32, 581 22, 739 15, 823
2,824 1,501
2,720
1,658
1,652
1,568
20, 663 13,172 18, 668
484
22, 444
1,219
1,081
18, 723
127. 9
86.2
102.
137.0
110.4
99.5
69.7
84.0
98.4
102.3
76.3
71.4
93.6
94.7
$678, 633 $486, 788 $82,886 $64, 354 $118, 408 $111,911$126, 213 $96,949 $119, 860 $59, 321 $129,135 $75,901 $102,131 $78, 352
10,370
2,740
43,974
15, 309
2,526
Relation
of
benefits
charged to contributions deposited
2,223
593
20, 598
4,383
1,900
1,117
430
9,741
1,715
2,626
1,066
3,288
9,796
3, 83,
1,816
1,067
1,830
5,020
3,155
Louisiana
Maine
Maryland
Massachusetts
Minnesota
10,757
2,908
100, 58r
21,178
9,920
13,942
5,188
16, 202
54, 611
19,194
7,533
6,485
13, 492
37, 229
13,394
2,199
352
2,222
6,154
1,841
New Hampshire
New York
North Carolina
Oregon
Pennsylvania
4,029 3,605
173,641 132, 513
15,325 1 0 , ' "
9,240 8,650
109, 287 103,441
607
21,014
2,245
1,362
15,869
Rhode Island
Tennessee
Texas
Utah
Vermont
11,593 12,113
11, 235 8,526
33, 405 15, 235
3,444 3,468
2,179
1,185
1,872
834
5, 293
219
282
3,293
1,145
1,1
729
289
2,031
1,914
5,378
598
390
3,147
2,22'
2,528
801
256
1,991
1,962
5,785
623
352
1,912
1,768
2, 913
654
160
2,273
2,060
5,286
653
392
941
1,00,
2,728
278
117
1,129
2,398
6,190
735
394
1,169
1,132
3,223
572
202
2,297
2,067
5,473
616
369
1,651
1,249
2,668
434
161
165.0
122.
34.7
187.3
81.1
113.8
90.8
43.0
117. 6
58.1
104.5
75.9
45.6
100.7
54.4
Virginia
West Virginia
Wisconsin
13,453
13,793
23, 526
1,31
2,117
4,161
797
2,713
2,876
2,223
2,209
3,955
1,811
5,251
2,245
2,336
2,161
4,005
2,032
2,933
2,481
2,418
2,441
4,148
996
1,168
l,80J
2,735
2,732
4,017
1,259
1,284
1,210
2,424
2,133
3,240
1,381
1,052
765
73.
184.1
63.1
68.0!
135.ll
57.8!
61.5
104.4
48.4
8,280
14, 401
11,382
966
654
689
13,852 33,347
1,460 2,390
1,439
1,501
14, 771 17, 888
1,1'
972
1,708
5,349
1,413
401
75'
32, 536 13,975
2,655
1,157
89
1,63!
18, 213 12,657
50:
September 1939
19
SURVEY OF CURRENT BUSINESS
Monthly Business Statistics
The data here are a continuation of the statistical series published in the 1938 supplement to the SURVEY OF
That volume contains monthly data for the years 1934 to 1937, inclusive, and monthly averages for earlier years back to 1913 insofar as available; it also provides a description of each series, and references
to sources of monthly figures prior to 1934. The 1938 supplement may be secured from the Superintendent of
Documents, Government Printing Office, Washington, D. C , for 40 cents per copy.
A few series have been added or revised since the 1938 Supplement went to press. These are indicated by
an asterisk (*) for the new 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
variations. Data subsequent to July will be found in the Weekly Supplement to the SURVEY.
CURRENT BUSINESS.
Monthly statistics through December 1937, to- 1939
gether with explanatory notes and references
to the sources of the data may be found in the July
1938 Supplement to th,e Survey
July
1938
DecemSepAugust tember October November
ber
1939
January
February
March
April
May
June
BUSINESS INDEXES
INCOME PAYMENTS t
Adjusted index.
_._
1929=100..
Unadjusted index
do
Total.
mil. of doL.
Compensation of employees:
Adjusted index
1929=100,.
Total
mil.ofdoL.
Mfg., mining, and construction
do
Transportation and utilities
do
Trade and finance
do
Government, service, and other do
Work relief
do
Dividends and interest
do
Entrepreneurial withdrawals and net rents
and royalties
mil. of dol_.
Direct and other relief
do
Benefit payments under Social Security Act
mil. of doL.
INDUSTRIAL PRODUCTION
{Federal Reserve)
83.5
83.9
5,494
80.7
81.0
5,304
81.5
76.1
4,985
82.0
83.5
5,465
82.1
86. 3
5,651
83.2
80.9
5,302
84.1
90.9
5,955
83.7
84.3
5,517
83.5
77.8
5,093
84.2
84.3
5,521
82.7
83.0
5,438
82.8
79.6
5,209
'83.5
'87.2
5, 713
3,559
1,150
391
644
1,220
154
794
79.8
3,357
1,002
366
625
1,175
189
788
81.4
3,418
1,056
82.5
3,570
1,102
83.1
3,675
1,137
84.6
3,675
1,145
86.2
3,718
1,166
85.4
3,580
1,125
85.1
3.575
1,146
85.0
3,624
1,160
83.3
3, 590
1,123
1,173
1, 265
1,305
1,298
1,250
1,254
1,266
206
739
1,079
193
779
1,247
197
692
209
450
1,288
197
412
185
720
83.3
3,627
1,130
384
645
1,288
.180
435
' 3, 695
r
1,169
' 391
r
650
' 1, 315
'170
879
1,007
1,025
1,015
1,067
1,108
1,055
1,030
1,014
84
84
85
92
95
957
96
1,004
85
98
990
94
1,006
90
995
90
55
52
45
37
36
39
45
60
44
51
46
373
619
374
632
386
641
377
646
378
683
203
373
639
3G3
631
188
420
381
637
192
735
372
644
94
91
98
100
104
99
100
95
Combined index, unadjusted
1923-25=100..
87
97
81
'97
99
94
89
98
103
100
96
79
98
Manufactures, unadjusted
do
85
95
'85
58
66
92
85
84
86
78
79
84
83
Durable goods*
do
63
91
v 66
45
Automobiles
do
26
63
115
117
105
105
106
98
88
26
87
98
100
64
42
88
86
83
79
48
Cement
do
91
65
87
69
112
78
89
107
155
153
147
138
91
133
93
Glass, plate._
...do
155
57
89
P97
89
91
79
75
93
100
88
92
Iron and steel
do
69
88
97
v 106
' 108
109
113
108
111
111
111
107
Nondurable goods*
do
104
109
106
102
113
104
-•104
119
102
104
115
121
111
125
112
126
Leather and products
do
199
215
206
209
208
202
205
20^
211
Petroleum refmingf
do
203
201
'208
81
102
112
112
109
95
99
Rubber tires and tubesf
do
110
114
104
100
90
79
86
92
90
94
104
101
101
84
81
83
Slaughtering and meat packing
do
77
90
105
Textiles
___do~~
104
103
111
114
115
112
104
103
116
100
167
186
177
167
145
157
147
172
156
Tobacco manufactures
do
172
161
151
93
105
Minerals, unadjusted
do
97
102
106
105
103
105
105
102
88
97
39
51
51
63
74
66
50
83
73
60
66
Anthracite
do....
38
55
'63
Bituminous coal
do
62
76
79
86
82
83
83
77
26
40
78
132
78
35
0
Iron-ore shipments
do
0
0
82
76
86
0
0
52
80
44
48
52
69
58
71
75
70
70
Lead
do
71
165
163
163
164
164
171
177
163
166
Petroleum, crude
do
174
170
173
84
Silver.
__
.do....
104
97
101
55
86
86
108
94
102
69
105
64
71
88
96
Zinc
do-__.
94
93
96
90
69
78
94
87
83
103
104
102
92
99
Combined index, adjusted
___ do
96
98
88
90
92
'98
82
87
89
95
103
104
Manufactures, adjusted
do
100
97
96
92
91
'
9
7
58
64
69
83
94
92
89
83
71
80
76
Durable goods*
do
'82
43
99
73
46
96
105
84
98
91
45
87
Automobiles..
..do
81
71
69
80
84
82
Cement
do
69
80
90
81
75
67
79
77
89
107
155
155
153
133
131
89
147
Glass, plate
do
83
124
62
Iron and steel
do
70
75
90
108
101
94
87
83
79
73
89
102
108
107
106
110
114
Nondurable goods*
do
110
109
110
108
'106
'110
103
103
101
107
123
124
124
121
113
109
Leather and products
do
'115
' 108
200
211
206
201
205
208
201
202
203
208
Petroleum refiningf
...do
••209
215
81
90
95
99
100
112
111
110
109
114
104
102
Rubber tires and tubesfdo
112
83
89
86
94
98
89
95
94
83
89
87
90
Slaughtering and meat packing
do
87
97
v 111
103
112
117
Textiles
do....
109
109
110
104
100
97
111
no
154
158
161
160
150
164
179
165
162
164
164
170
Tobacco manufactures
...do
170
93
102
*> 108
98
95
97
109
98
110
110
110
95
Minerals, adjusted
do
' 104
47
P53
38
50
49
'58
Anthracite
do
69
61
80
73
61
' 67
59
60
v 76
46
71
72
64
76
78
Bituminous coal
_
do
75
77
79
31
'71
38
74
37
41
50
0
0
55
42
0
0
0
Iron-ore shipments
do
67
54
68
82
50
46
66
Lead
...do
73
71
50
57
70
69
70
161
* 176
158
165
169
171
167
161
173
174
Petroleum, crude
..do
175
169
170
99
105
102
102
51
85
86
Silver
__
do-..
100
86
101
71
107
69
91
89
75
94
91
Zinc...
_ do—.
87
74
80
89
90
88
90
' Revised.
v Preliminary.
•New series. For indexes of durable and nondurable goods production beginning 1919, see table 8, p. 14 of the March 1939 Survey.
fRevised series. Petroleum refining, unadjusted and adjusted, revised beginning 1934, and rubber tires and tubes, unadjusted and adjusted, beginning 1936; see table 36,
p. 17 of the August 1939 Survey. For revised income payments beginning 1929, see pp. 15-20 of the October 1938 Survey.
20
SURVEY OF CURRENT BUSINESS
Monthly statistics through December 1937, together with explanatory notes and references
to the sources of the data may be found in the
1938 Supplement to the Survey
1939
September 1939
193S
August
July
July
September
1939
DecemOctober November
ber
January
February
March
April
May
June
BUSINESS INDEXES—Continued
MARKETINGS
Agricultural products (quantity):
Combined index
_ 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__
Adiusted
do
Crops
do.. .
Livestock and products
do
Dairy products
.
do ._
Meat animals
do
Chickens and eggs
do _
WORLD STOCKS
Combined index (quantity) f
1923-25 = 100.Cotton adjusted
do
Rubber, adjusted f
.do
Silk adjusted
do
Sugar adjusted
-do
Tea, adjusted
do
Tin unadjusted
do
Wheat, adjusted
do
94
8S
133
00
91
380
101
40
78
184
49
92
85
136
60
79
487
100
19
81
205
63
92
89
153
72
73
317
96
61
80
155
46
117
83
137
75
68
76
152
235
90
110
87
131
89
114
85
76
139
174
267
113
128
86
99
89
87
78
116
160
108
154
79
85
67
76
81
91
67
116
68
71
78
85
62
61
65
77
97
73
80
41
53
37
82
51
77
56
64
94
56
70
50
46
34
78
38
78
68
78
104
65
104
45
57
35
93
50
107
65
81
103
62
123
77
50
22
95
50
89
81
99
135
72
145
193
63
92
80
106
2
8
10
11
63. 0
62 5
51.0
74.5
77.0
73.5
75.0
72.0
82 5
86. 5
78.5
82.0
80.0
75.0
72.5
72 0
63.0
81.0
84.5
82.0
75.5
85.0
72 5
61.0
84.5
86.5
87.0
75.5
91.5
67.5
55.5
80.0
86.0
77.5
77.5
78.0
69.5
55.5
84.0
85.5
83.5
83.5
72.5
68 0
55.0
82.0
89.5
78.0
81.0
68.5
67.5
55.5
80.0
88.5
79.0
67.0
51.0
60 0
44.5
76.5
85.5
77.5
56.5
57.5
64 0
49.5
79.5
80.0
84 0
71.5
55.0
64 5
51.5
78.0
76.0
75 0
70.0
60.0
65 0
49.0
82 0
70.5
83 5
80.0
59.
60
45.
75
77
76
73.
221
287
316
184
218
115
102
129
222
281
308
168
221
118
104
146
207
241
300
172
195
119
105
163
201
217
294
179
199
126
105
169
192
202
284
172
188
129
102
169
189
201
255
164
192
127
105
167
186
202
268
144
184
132
111
162
183
204
258
120
187
126
126
151
181
201
248
111
191
118
127
151
182
205
241
101
187
110
129
162
182
211
239
84
184
106
119
166
19
22
22
8
18
10
11
18
245
98
115
81
14*
1138
COMMODITY PRICES
COST OF LIVING
(National Industrial Conference Board)
Combined index
Clothing
Food
Fuel and light
Housing
Sundries
-
- 1923=100
do
do
_-do
do__ _
do
84.9
71.9
78.1
83.8
86.3
96.9
86.5
73.5
81.7
84.1
86.6
97.4
85.9
73.4
80.1
84.4
86.6
96.9
85.9
73.3
80.4
85.0
86.6
96.8
85.8
73.2
79.8
85.6
86.6
96.8
85.6
73.2
79.5
85.9
86.4
96.8
85.8
73.0
80.3
86.0
86.2
96.8
85.4
72.7
79.2
85.9
86.2
96.8
85.1
72.4
78.4
85.9
86.1
96.7
84.9
72.3
78.0
85.8
86.1
96.7
85.0
72.2
78.2
85.2
86.2
96.7
84.8
72.1
78.1
84.0
86.2
96.6
84.7
72.0
77.9
83.4
86.0
96.6
89
89
73
96
80
60
107
101
92
105
69
102
78
62
115
92
99
95
118
69
104
75
63
117
107
98
95
124
72
107
70
60
111
107
107
94
131
73
109
71
60
111
102
95
96
127
70
112
73
63
109
108
108
94
97
71
109
76
66
112
96
109
92
91
70
107
78
66
116
108
92
91
88
71
100
81
66
116
114
83
89
87
70
95
82
67
114
102
86
90
85
72
92
85
72
112
110
89
83
73
94
93
73
107
105
89
95
103
71
101
79
72
123
99
87
83
81
76. 5
80.0
78.4
78 4
88.0
78.7
78.1
77.8
81 8
89.3
78.6
77.5
76.8
80 8
89.4
76.4
76.6
76.5
75 1
85.2
76.3
S9. 3
89.0
89.0
89.0
89.0
88.9
88.9
89.1
89.1
89.1
89.1
89.1
89.1
95. 0
96.8
88.9
90. 6
89. 0
89.4
91. 3
84.5
96.5
88.7
89 4
91.1
84. 5
96.4
88.7
89. 4
90.9
84.5
96.4
88.7
89.2
90. 4
84.4
96.3
88.7
89.0
90.4
84.3
96.3
88.7
89.0
90.5
84.3
96.2
88.5
88.9
90.5
84.3
96.2
88.4
88.8
90.5
84.3
96.0
88.4
88.8
90. 5
84.1
95. 9
88. 4
88.8
90. 5
84.1
95.9
88.4
88.1
90. f
84.0
PRICES RECEIVED BY FARMERS §
(U. S. Department of Agriculture)
Combined index - .
Chickens and eggs
Cotton and cottonseed
Dairy products
Fruits
Grains
.
.
Meat animals
Truck crops
Miscellaneous
1909-14=100._
. .
do
do
do
-do
do
-do
_do____
do
RETAIL PRICES
U. S. Department of Labor indexes:
Coal:
AnthrnpHp
Bituminous
Food
Fairchild's index:
Combined index
Apparel:
Infants'
Men's
Women's
Home furnishings
Piece soods
1923 ^5—100
do
_do.
Dec, 31, 1930=100_.
-
do
do
__do
do
__do
*S. 4
Ss. u
W. 6
81. '
80. 0
9!. 5
M.$
WHOLESALE PRICES
U. S. Department of Labor indexes:
76.2
77.0
76.9
76.2
77.6
77.5
76.9
76.7
78.3
75.6
78.8
78,1
75. 4
Combined index (813 quotations)-1926=100__
Economic classes:
81.1
80.2
80.2
79.9
81.8
81.8
80.5
80.0
80.2
80.1
79.6
79 2
82.5
Finished products
do
71.4
71.5
70.9
70.9
68.5
72.0
70.9
70. 9
70.1
08. 9
07. 7
72. 3
07. 8
Raw materials
- do
74.1
74.4
70.2
75.2
74.9
74.4
74.4
74.3
74.3
74.7
75. 9
74.6
74.4
Semimanufactures
_
do
03. 7
02.4
07.3
66.8
07.8
67.6
67.2
67.2
65.8
63.7
69. 4
6S.1
02. 0
Farm products
do
55.2
53.4
50. 9
54.4
56.3
54.7
54. 5
59. 6
53.0
50.8
58. 2
58 3
52. 3
Grains
do
74.4
75.2
79.2
75. 5
09.4
84.4
70.2
78.0
78.2
80. 0
81.0
09. 7
Livestock and poultry
do
74.1
71.5
73.1
71.5
70.2
68.6
G&2
73.0
74.5
73.5
07.6
74.3
07. f>
Foods
do
72.5
73.9
71.8
58.1
58.6
60. 0
71.1
71.6
64.8
OS. 8
71.6
69.5
01. 0
Dairy products
do
63.8
57.3
55. 5
57.5
03. 0
60.4
60.9
62.1
63.2
64.3
62.5
62. 0
56. 4
Fruits and vegetables
do
79.9
83.2
78.6
81.9
81.6
82.5
81.0
75.7
89.7
80.0
87.3
83.3
75.3
Meats
-- .-do
Commodities other than farm products and
gn 2
80.3
80.2
80.2
80.4
80. 5
80.6
80. 2
81.4
81.4
80.6
81.3 !
81.1
foods
1926=100
89.2
89.4
89.6
89.5
S9.5
89.4
89. 5
89.6
89.2
89.8
89.5
89.8
89. 7
Building materials
.-do
91.7
91.1
90. 6
90.9
91.1
91.5
91.5
92.4
92.4
92.5
93.0
90. 0
90.7
Brick and tile
do
91.5
91.5
90.6
91.2
91.5
90.7
90. 7
90.6
90.6
91.5
91.0
91.0
91. 5
Cementt
do _
91.2
90.4
90.2
90.9
92.6
92.1
91.5
90.7
90.2
90.3
91.7
88.8
91.8
Lumber
- ...do
t Revised series. Combined index of world stocks revised beginning January 1920; see table 5, p. 17 of the January 1939 Survey. For subsequent 1938 revisions in the
combined index and in the rubber index, see p. 20 of the June 1939 issue. Cement price index revised beginning 1926. and data not shown on p. 20 of the May 1939 Survey will
appear in a subsequent issue; the building materials group and the combined index of all commodities have not been revised, as the effect of the change in cement prices on
§ Data for Aug. 15,1939: Total 88, chickens and eggs 90, cotton and cottonseed 71, dairy products 100, fruits 70, grains 64, meat animals 101, truck crops 101, miscellaneous 100.
21
SURVEY OF CURRENT BUSINESS
September 1939
Monthly statistics through December 1937, to- 1939
gether with explanatory notes and references
to the sources of the data may be found in the July
1938 Supplement to the Survey
1939
1938
July
August
September
vein-1 DecemOctober Mober
ber
January
February
March
April
May
June
COMMODITY PRICES—Continued
WHOLESALE PEICES—Continued
U. S. Department of Labor indexes—Contd.
Combined index—Contd.
Commodities other than farm products
and foods—Continued.
Chemicals and drugs
1926=100..
Chemicals
do
Drugs and Pharmaceuticals ...do
Fertilizer materials
do.. _
Fuel and lighting materials
do
Electricity
do
Gas
do
Petroleum products
do
Hides and leather products
do
Shoes
___do__ _
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
Hosiery and underwear
do
Silk and rayon
do
Woolen and worsted goods
do
Miscellaneous
do
Automobile tires and tubes
do
Paper and pulp
do
World prices, foodstuffs, and raw materials:
Combined indexf
1923-25=100..
Cotton
do
Eubber
» do
Silk __
do
Sugarf
.
do
Tea
do
Tin
do
Wheat
. . . .
do
Wholesale prices, actual. (See under respective
commodities.)
75.7
79 2
71.9
69.5
73.0
77.7
81 4
74.8
67.3
76.8
81.6
88.1
56.7
91.9
100.8
75.6
82.1
86.4
82.2
90.5
95.4
97.3
72.9
77.3
81.0
74.8
67.2
76.6
81.8
88.7
56.4
92.0
100.8
75.7
82.4
86.2
82.1
90.2
95.5
97.3
73.5
77.1
80 5
74.9
67.5
75,4
81.8
87.1
53.8
93.4
100.3
82.1
84.6
85.7
82.1
89.3
95.3
96.9
76.2
76.6
80 2
73.6
67.7
73.7
81.8
84 6
51.5
94.6
100.4
85.5
86.9
85.8
81.9
89.7
94.9
96. 9
77. 6
76.7
80 0
73.5
68.6
73.2
82.7
81 6
50. 9
93.1
100.6
78.8
85.9
86.0
81.6
90.3
94.6
96.8
76.8
76.7
79 7
73.0
70.2
72.8
82.9
82 2
50.4
93.1
101.2
78.4
85.0
85.4
80 5
90.1
94.4
96.4
76.7
76.3
79 4
72.7
69. 3
73.0
82.8
81 8
50.7
91.9
101.1
72.8
84.2
85.2
80.5
89.8
94.3
96.1
76.5
76.5
79 9
72.2
69.7
73.1
80.3
82 2
50.9
91.8
101.2
73.8
82.7
85.2
80.5
89.7
94.3
96.1
76.6
76.0
79.3
71.9
69.6
73.4
75.9
79.4
71.9
69.7
73.9
52.2
92.5
100.8
76.9
84.1
85.6
81.0
90.0
93.2
95.1
73.3
77.7
81.7
74.8
66.9
76.8
84.7
91.0
56.8
91.5
101.2
70.8
82.5
86.4
82.2
90.5
95.2
97.2
71.8
84.1
51.9
90.9
101.2
68.3
82.8
85.4
81.0
89.6
94.0
96.1
74.7
86.0
52.5
91.6
101.3
72.1
83.1
85.5
81.0
89.8
93.5
95.7
73.1
88.9
52.5
92.3
101.3
75.3
83.8
85.6
81.0
90.0
93.2
95.2
72.9
79.3
67.6
81.2
65.1
60.2
40.2
75.4
73.4
60.5
79.9
79.5
66.1
81.7
65.1
59.8
29.9
75.9
72.7
57.4
82.8
79.2
65.9
81.7
64.4
59.8
29.2
76.3
72.4
57.4
82.4
78.5
65.8
81.6
64.1
59.9
29.5
76.3
72.4
57.4
81.9
78.5
66.2
81.6
64.6
59. 9
30.9
76.3
72.6
57.4
81.7
78.7
66.2
81.6
65.1
59.9
30.3
76.4
73.0
58.8
81.5
78.7
65.8
81.6
64.6
59.3
30.8
74.8
73.1
58.8
80.9
78.7
65.9
81.5
64.3
59.1
32.1
74.5
73.2
58.8
81.0
79.2
66.1
81.5
63.7
58.8
34.7
74.7
73.5
59.7
81.1
79.3
66.6
81.5
63.7
59.9
36.1
75.1
74.1
60.5
81.3
79.3
66.9
81.6
63.4
60.2
37.8
75.2
74.4
60.5
81.1
79.3
67.5
81.7
63.3
60.2
40.7
75.4
74.2
60.5
80.4
79.3
67.3
81.7
64.1
60.1
39.1
75.6
73.8
60.5
79.9
39.6
35.7
38.7
37.0
37.7
67.5
96.5
34.3
41.2
32.7
36.0
25.3
28.2
70.5
86.3
62.4
39.1
30.9
37.7
24.3
28.1
76.3
86.1
53.9
38.3
29.8
37.8
25.2
28.9
78.4
86.3
50.2
37.8
31.6
39.6
25.9
26.8
72.9
90.0
46.7
37.5
33.5
38.0
25.2
28.8
66.0
92.0
42.3
36.5
32.0
37.6
25.3
30.4
67.2
91.9
38.1
37.2
32.7
36.9
26.5
31 3
66.7
92 3
39.3
37.8
33.1
37.3
29.5
30.9
67.0
90.8
41.1
37.3
33.1
38.1
31.0
31.9
66.6
91.9
36.8
38.4
32.4
37.2
33.4
35.2
69.6
93.9
38.5
41.3
35.3
37.6
37.6
40.5
68.9
95.7
40.4
41.0
36.4
38.3
35.4
37.4
68.8
97.2
40.8
133. 5
130.7
165.3
119.8
127.8
125.0
154.8
117.5
128.9
127.6
159.7
118.3
128.6
127.1
154.8
118.3
129.8
128.0
154. 8
118.5
129.9
128.5
156. 5
118.8
130.8
127.2
153.1
118.5
130.9
129.0
156. 5
119.0
130.9
130.2
159.7
119.5
131.3
130.9
161.6
119. 8
132.1
130.5
165. 3
119.6
132.1
130.7
163.4
119.9
'133.2
131.1
165.3
120.0
69
58
69
55
76
68
67
58
75
65
63
55
••73
'64
63
58
233
661
770
885
22, 282
330.030
159, 056
170, 374
23,244
308,487
134,757
173,730
21,701
288,316
127,595
160,721
75.0
78.2
71.8
67.5
72.8
PURCHASING POWER OF THE
DOLLAR
Wholesale prices
Retail food prices.
..
Prices received by farmers
Cost of living
_ __
1923-25=100..
do .
do___^
.„ _ do
CONSTRUCTION AND REAL ESTATE
CONTRACT AWARDS, PERMITS, AND
DWELLING UNITS PROVIDED
Value of contracts awarded (F. R. indexes):
Total, unadjusted
1923-25=100..
Residential, unadjusted
do
Total, adjusted
do
Residential, adjusted
do
F. W. Dodge Corporation (37 States):f
Total projects
number..
Total valuation
thous. of doL.
Public ownership
do
Private ownership
do
Nonresidential buildings:
Projects
number..
Floor area^.
thous. of sq. ft_.
Valuation
'.
thous. of doL_
Residential buildings, a^l types:
Projects
number...
Floor area
thous. of sq. ft..
Valuation
thous. of doL.
Public utilities:
Projects
number..
Valuation
thous. of doL.
Public works:
Projects
number._
Valuation
thous. of doL.
Building permits issued in 1,790 cities:t
Total buildings
number. _
Total estimated cost
thous. of dol._
New residential:
Buildings
number..
Estimated cost
thous. of dol._
New nonresidential:
Buildings
number..
Estimated cost
thous. of dol._
Additions, alterations, and repairs:
Buildings
number...
Estimated cost
thous. of doL.
r
Revised.
P73
65
49
59
49
69
52
66
53
79
56
78
56
78
56
82
57
85
54
96
56
77
48
96
57
70
45
86
55
63
51
73
58
648
799
838
961
18, 770
313,141
171.099
142.042
16,926
300.900
100,125
140,775
664
698
359
339
17, 772
301, 079
178,948
122, 731
16,027
389, 439
279, 403
110, 036
13, 281
251, 073
147,916
103, 757
13,015
220,197
110.975
109, 220
3,823
17, 691
88, 501
3,188
11, 579
72, 503
3, 416
14, 744
87, 316
3, 363
15, 599
91, 997
3, 594
23, 223
131, 020
3, 585
21, 515
116, 008
3,495
25, 503
139, 513
2, 456
14, 351
84, 999
2, 348
12, 783
69, 544
3. 592
17, 944
97, 785
3,400
16,563
94, 656
3,457
12, 700
76, 749
4,052
15,418
92,845
16, 287
27,181
109,330
12, 757
21, 579
87, 978
13,488
23,574
99, 732
11, 600
21,781
99, 574
13, 007
27,177
112, 673
12,515
23, 405
95, 253
10,413
22, 7-0
91,539
9, 750
19, 981
80,103
9, 669
19,176
79,020
15, 438
30,725
125, 225
17,387
28, 3S2
114, 405
18,262
32, 602
133,818
15,942
27, 502
111,896
254
23,092
151
13, 431
274
37, 980
288
26,167
335
21,176
330
19, 726
500
44, 312
258
29, 509
273
18,518
250
19, 640
323
35,336
251
21,779
234
1.442
78,960
1, 552
65, 827
1, 592
88,113
1, 675
83,162
1, 828
92, 829
1,342
70, 692
1, 619
114,075
817
57,002
725
53,115
944
58, 010
1,172
85, 633
1,274
76,141
64,537
185, 019
57, 652
163,186
65, 492
159, 455
64.203
158, 492
09, 015
164, 244
53, 615
148,480
38, 247
147, 791
38, 902
150, 704
37, 721
149, 572
62, 303
177, 903
02, 775
165,978
77,913
204,437
1,473
73,607
71,040
202,429
17, ,«84
96,114
14,214
90,722
16,106
88.117
15, 058
85,. 079
15, 701
78,394
14,121
74,053
11,059
02, 767
11, 052
70,708
11, 476
85, 719
18, 035
94, 374
17, 697
87,441
20,961
119, 600
11,214
59, 794
9,570
45, 309
11,609
43, 313
12,003
47,180
13,011
56,810
10,459
51, COO
6, 901
63,115
6,449
61, 399
5, 090
37, 730
10. 490
52, 886
11, 520
44, 830
13,711
51,162
19,224
99,775
12,085
70,974
35, 439
29, 111
33, 868
27,155
37,687
28,025
37,142
26, 233
40,843
29. 540
29,035
22, 767
20, 227
21, 909
20,801
24, 537
20. 555
26,123
33,172
30,643
36,558
33, 706
43, 241
33, 674
39, 731
31, 680
»62
*67
P61
21, 806
299, 883
136, 543
163,340
17,
239,
97,
141,
19,
357,
203,
154,
20,
300,
127,
172,
» Preliminary.
cost of permits issued was increased by only 0.2 percent in 1937. Data beginning January 1930 will appear in a subsequent issue of the Survey.
22
SUKVEY OF CURKENT BUSINESS
Monthly statistics through December 1937, to- 1939
gether with explanatory notes and references
to the sources of the data may be found in the July
1938 Supplement to the Survey
July
1938
DecemSepAugust tember October November
ber
September 1939
1939
January
February
March
April
May
June
CONSTRUCTION AND REAL ESTATE—Continued
CONTRACT AWARDS, PERMITS, AND
DWELLING UNITS PROVIDED-Con.
Estimated number of new dwelling units provided in all urban areas :f
Total
number.1-family dwellings
do
2-family dwellings
do
Multifamily dwellings
--do
Engineering construction:
Contract awards (E. N. R.)1 thous. of doL.
81,469
25,963
15, 384
1,056
9,523
25, 818
17, 262
1,416
7,140
25. 684
16)115
1,168
8,401
23, 648
16, 857
1,290
5,501
22,064
14, 781
1,042
6,241
18,355
11, 517
796
6,042
• 22,097
' 13, 240
' 1,207
r
7, 650
223, 333
236, 271
289, 725
235, 898
217,023
139, 250
311, 693
26,147
12, 278
r 1, 212
28,526
27,011
19, 625
19, 405
1.418
' 1,385
r
6,188
7, 516
35,796
25,760
1,905
8,131
29,997
21,768
1,417
6,812
252,992
262, 395
12, 657
285, 566
240, 735
203, 843
HIGHWAY CONSTRUCTION
Concrete pavement contract awards:
Total
thous. sq. yd..
Roads
do_--.
Streets and alleyscf
do
Status of highway and grade crossing projects
administered by the U. S. Bureau of Public
Roads:
Highways:
Approved for construction:
Mileage
no. of miles.
Federal funds
thous. of dol.
Under construction:
Mileage
no. of miles.
Federal funds
thous. of dol.
Estimated cost
do...
Grade crossings:
Approved for construction:
Federal funds
do _. _
Estimated cost
do__.
Under construction:
Federal funds
do_._
Estimated cost
do_._
5, 713
3,820
1,893
5,194
3, 511
1,682
7,247
4, 548
2, 699
5,064
3, 213
1,851
4,671
2,871
1,800
4, .583
2,001
2,582
4,270
2,765
1,505
3,190
2,085
1,105
1,245
686
560
2,143
860
1,283
3,385
2,081
1, 304
4,458
2,179
2, 280
6, 855
4, 232
2,623
3,701
37,802
4,728
53,137
4,109
48,958
3, 463
43,373
3,337
38, 572
3,122
36, 231
3,390
37, 677
3,306
36,294
3,177
35,968
3,081
34,969
3, 081
35, 600
3, 615
40, 769
3, 867
41,024
8, 522
124,975
244,860
9,278
134, 900
257,078
9,521
135,158
260, 494
9, 418
133,337
256, 592
8,872.
130, 841
252,852
7,968
120, 453
234, 256
7, 514
113,828
221, 530
7, 540
113, 466
218,965
7,721
114,185
221,046
7,855
115,212
222, 630
8.301
120, 505
232, 772
8, 463
122, 758
238, 637
11,504
12,414
12, 836
13, 676
11,416
12,136
12, 561
13, 370
12,112
12, 877
13, 930
15,159
12, 794
13, 867
13, 572
14, 587
13,613
14, 285
12,906
13, 374
12,107
12, 529
10, 224
10, 583
11,312
12,191
40, 336
42,052
41,031
42,058
40, 399
41, 298
37, 676
38, 567
35,451
36,387
35, 883
36,808
35, 023
36,026
36,440
37,932
37,930
39, 777
38. 817
40,747
40, 654
42,654
43,771
45, 723
42, 299
44,094
18!
168
193
169
185
181
168
191
181
167
191
164
184
181
167
191
164
184
182
167
192
166
184
182
169
192
166
184
182
169
192
166
184
183
169
192
167
185
183
169
192
167
185
182
168
193
169
185
182
168
193
169
185
182
168
188
188
188
188
188
188
188
187
8, 570
123, 554
240, 218
CONSTRUCTION COST INDEXES
Aberthaw (industrial b u i l d i n g ) . . . . 1 9 1 4 = 1 0 0 American Appraisal Co.:
Average, 30 cities
1913=100..
Atlanta
do....
New York
do
San Francisco
...do
St. Louis
do—
Associated General Contractors (all types)
1913=100.
E . H . Boeckh and Associates, Inc.:
Apartments, hotels, and office buildings:
Brick and concrete:
Atlanta
U . S. av., 1926-29=100.
New York
do.__
San Francisco
do...
St. Louis
do...
Commercial and factory buildings:
Brick and concrete:
Atlanta
do___
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...
N e w York
do...
San Francisco...
do...
St. Louis
do...
Engineering News Record (all types) §
1913=100
Federal Home Loan Bank Board:*
Standard 6-room frame house:
Combined index
1930=100.
Materials
do...
Labor
do...
189
164
184
188
187
188
189
183
169
192
167
185
188
169
185
94.8
130.9
116.8
118.3
96.4
128.2
116.0
118.3
96.1
129.8
115.9
118.5
96.1
129.9
116.0
118.5
96.2
129.7
115.9
118.7
96.5
130.1
115.9
119.1
96.1
130.1
116.0
119.1
95.3
130.0
117.6
119.1
95.2
130.1
117.6
119.1
95.3
130.0
117.
119.1
95.3
130.0
117.6
119.1
95.3
130.6
117.0
118.6
95.4
130. 6
116.9
118.5
97.2
133.8
121.2
119. C
98.5
130.3
120.9
119.6
98.2
132.7
120.
119.8
98.2
132.7
121.0
119.8
98.2
132.4
120.9
119.8
98.4
132.8
120.9
120.1
98.0
132. 8
121.0
120.1
97.4
132.6
122.3
120.1
97.5
132.7
122.3
120.1
97.4
132.7
122.3
120.1
97.4
132.7
122.3
120.1
97.6
133.4
121.4
119.7
97.6
133. 4
121.3
119.7
93.3
130.2
114.4
118.2
97.8
128.1
116.2
119.4
96.7
128.9
115.6
119.8
96.7
129.0
116. 2
119.8
96.8
128.9
115.6
120.1
96.5
129. 3
115.6
120.5
96.2
129.3
116.2
120.5
96.0
129.
117.
120.4
96.2
129.
117.
120.4
96.0
129.4
117.
120.6
96.0
129.
117.
120. 6
95 6
129. 8
115.3
118.5
95. 7
129. 9
114.7
118.5
86.5
123. 6
104.7
108. 9
85.3
121.1
105. 4
107.4
85.6
122.3
105.4
108.8
85.6
122.8
105.4
108.8
86.0
122.6
105.4
109.9
87.
122.4
105.
111. C
86.3
122.4
105.4
111.0
85.0
122. 5
106. 6
110.7
85.7
122.2
106.6
110.7
85.0
122.2
106.6
110.3
85.0
122.5
106. 6
110.3
86.1
123.1
1.04. 7
1-10. 3
86.8
123.1
104. 7
110.0
83.3
122
98.7
105.
82.2
119.3
97.5
103.3
82.3
120. 0
97.5
105.1
120. 5
97.5
105.1
82.8
120.4
97.5
106. 5
84.6
121.2
97.5
108.1
83.1
121.
97.5
108.1
81.6
121. 3
98.7
107.7
82.5
121.1
98.7
107.7
81.6
121.0
98.
107.2
81.6
121.
98.7
107.2
82.8
121.9
98.7
107.2
83. 7
121.9
98.7
106.8
234. S
232.3
232.4
232.7
234.3
234.4
234.9
234.
234.3
234.4
234. S
234.7
235.0
105.3
102.4
111.
106.8
104.2
112.0
106.4
103.4
112.3
106. 4
103.4
112.4
106.2
103.3
112.1
106.
103.
112.
106.1
103.1
112.1
106.0
103.0
111.
106.0
103.0
112.2
106.
103.0
112.4
105.
102.
111.
105.6
102.
111.5
105.4
102.5
111.3
82.3
REAL ESTATE
Federal Housing Administration, home mortgage insurance:
Gross mortgages accepted for insurance
82,322
73, 701
64, 89!
41,224
63,486
thous. of dol. 52, 60S 60,41
42, 2
67,878
68, 344
64, 627
58, 250
51,058
Premium-paying mortgages (cumulative)
thous. of dol l,658,30(: 1,038,627 1,082,454 1,131,404 1,189,823 1,244,141 1,300,446 1,355,829 1,400,212 1,450,57. 1,496,79' 1,546,237 1,607,147
r
Revised.
§Index as of August 1, 1939, is 234.9.
*New series. For data beginning 1936, see table 30, p. 17 of the June 1939 Survey.
tMonthly data for the period January 1937 through June 1938 are in process of'revision and will be shown when available. Revisions in data for January 1937 to September 1937 are minor; revisions infiguresfor the period October 1937 to June 1938, available at the present time on a quarterly basis only, are as follows: Fourth quarter,
1937—total, 39,518; 1-family, 26,928; 2-family, 2,520; multifamily, 10,070; first quarter, 1938—total, 42,352; 1-family, 28,585; 2-family, 3,142; multifamily, 10,625; second quarter,
1938—total, 61,869; 1-family, 45,865; 2-family, 3,965; multifamily, 12,039.
cfData for streets and alleys, formerly shown separately, are available in total only subsequent to December 1938.
IData for September and December 1938 and March and June 1939 are for 5 weeks; other months, 4 weeks.
23
SUEVEY OF CURRENT BUSINESS
September 1939
Monthly statistics through December 1937, together with explanatory notes and references
to the sources of the data may be found in the
1938 Supplement to the Survey
1939
July
1939
1938
July
August
September
NovemOctober
ber
December
January
February
March
April
May
June
CONSTRUCTION AND REAL. ESTATE—Continued
REAL ESTATE-Continued
Estimated new mortgage loans by all savings
and loan associations:!
Total loans
thous. of d o L . 85,172
94,154
89,123
72,931
83,425
74, 709
64,070
63,934
55, 567
73,378
67,639
71,647
58,309
Loans classified according to purpose:
Mortgage loans on homes:
29,919
Construction
do
21, 254
23, 727
26, 646
19, 096
22, 575
21, 018
22,099
19,152
16, 099
18,627
16, 027
26,865
32, 228
31,289
Home purchase
do
21, 924
23, 833
25, 698
24, 677
17, 503
24, 705
29, 903
21, 205
20, 826
19,118
29, 638
15,687
17,123
Refinancing
do
13,194
14, 701
12,416
12, 913
11, 749
12,182
12, 551
14,871
15, 384
15, 353
12, 805
6,069
5,802
Reconditioning
do
5,397
4,791
5,727
3,389
4,821
3,593
5,133
4,211
4,974
5,528
4,025
9,432
8,028
7,724
7,515
6,827
9,082
Loans for all other purposes
do
7,235
7,020
8,183
8,072
8,337
9,437
7,126
Loans classified according to type of association:
39,094
Federal
thous. of d o l . . 34,055
23,823
26, 534
20,894
33, 400
36,358
26, 858
25, 650
24, 220
25, 019
22, 298
29,811
State members
do
28, 973
30, 546
23, 071
36,465
29, 506
29, 255
26,115
26,504
30,124
32, 562
35,426
24,191
34,146
Nonmembers
do
14, 843
15,851
11,602
18, 345
16, 742
13, 735
12,411
13, 443
18, 595
17,463
17,339
11, 820
16,971
Loans outstanding of agencies under the Federal
Home Loan Bank Board:
Federal Savings and Loan Associations, estimated total mortgages outstanding
thous. of doL- 1,157,536 961, 300 976, 074 994, 218 1,011,087 1,020,873 1,034,162 1,040,770 1,051,109 1,067,887 1,089,879 1,117,228 1,136,289
Federal Home Loan Banks, outstanding advances to member institutions
thous. of doL_ 161, 537 191,889 189,415 189, 548 189,217 189, 685 198,840 178,852 170,614 161,614 157,176 157,911 168,962
Home Owners' Loan Corporation, balance of
loans outstanding
thous. of d o L . 2,067,844 2,248,982 2,234,899 2,221,417 2,203,896 2,186,170 2,168,920 2,149,038 2,134,261 2,117,598 2,105,824 2,091,324 2,080,512
Foreclosures:
Nonfarm real estate
1926=100. _
159
173
161
169
165
154
154
168
158
169
153
164
186
151
153
157
145
138
157
141
Metropolitan communities
do
152
161
142
155
165
161
32, 758
27, 062
Fire losses
thous. of dol__
20,435
23, 373
27, 615
29, 304
30, 682
22, 468
20, 821
24, 798
27,032
28, 659
24,191
DOMESTIC TRADE
ADVERTISING
Printers' Ink indexes (with adjustment for seasonal variations):
Combined index
.1928-32=100..
Farm papers
do
Magazines
do
Newspapers
do
Outdoor
do
Radio
_do___.
Radio advertising:
Cost of facilities, total
thous. of doL,
Automobiles and accessoriesdo—
Clothing
_do
Electric household equipment
do—
Financial
do
Foods, food beverages, confections
do
House furnishings, etc
do—
Soap, cleansers, etc
do
Office furnishings, supplies
do
Smoking materials
do
Toilet goods, medical supplies
do
All other
do
Magazine advertising:
Cost, total
do.._.
Automobiles and accessories
do
Clothing
do....
Electric household equipment
do
Financial
do
Foods, food beverages, confections
do
House furnishings, etc
do
Soap, cleansers, etc
do
Office furnishings, supplies
do
Smoking materials
do
Toilet goods, medical supplies
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...
61.8
80.0
74.0
77.4
55.8
74.7
72.5
74.7
261.0
80.3
79.3
74.5
75.2
77.0
274.7
82.1
58.8
73.5
78.9
76.9
260.0
78.4
64.7
73.6
73.8
77.7
242.3
83.6
65.7
82.0
79.9
65.9
257.6
88.0
70.3
78.8
86.0
71.0
261.7
76.4
57.6
72.6
71.5
72.2
273.6
79.5
59.9
78.4
74.2
73.8
265.6
84.4
56.4
80.4
79.8
82.0
262.7
82.2
66.2
80.6
76.0
89.0
253. 3
84.4
69. u
80.3
78.0
90.5
290.8
85.5
65.0
82.0
79.8
76.6
329.7
5,812
496
32
0
97
1,668
23
771
0
1,000
1,583
141
4,493
374
33
10
22
1,434
0
580
0
616
1,236
188
4,530
352
37
0
27
1,380
0
624
0
672
1,242
195
4,781
447
30
0
21
1,543
0
611
0
655
1,308
166
6,509
626
18
0
19
2,103
48
626
0
853
1,851
365
6,713
600
18
0
26
2,157
39
674
0
861
1,990
349
6,754
626
10
0
21
2,301
39
653
0
853
1,977
273
7,023
647
25
0
41
2,318
49
714
0
836
2,045
348
6,567
617
33
0
53
2,194
39
691
0
796
1,859
285
7,404
747
50
0
64
2,501
38
818
0
885
2,020
281
6,678
657
25
0
54
2,241
39
746
0
870
1,781
264
7,034
745
66
0
74
2,277
65
857
0
921
1,844
186
6,471
640
37
0
129
2,101
18
792
0
887
1,718
148
10,131
1,635
246
170
337
2,072
266
311
64
622
1,901
2,507
1,625
8,411
1,268
257
98
311
1,654
217
284
41
651
1,540
2,090
1,602
7,380
888
341
19
266
1,353
130
275
116
705
1,344
1,943
1,472
9,846
769
822
136
341
1,516
599
355
228
734
1,642
2,703
2,112
13, 668
1,630
1,022
342
444
2,073
862
398
223
889
2,261
3,524
2,318
13,412
2,142
689
312
426
2,143
679
363
225
829
2,210
3,394
2,251
11, 529
1,295
531
470
299
1,931
509
234
266
755
1,815
3,424
1,658
8,023
1,186
272
67
320
1,457
194
211
122
654
1,266
2,274
1,929
11, 536
1,475
495
195
376
2,099
377
500
148
591
2.183
3,096
2,294
14, 243
2,153
829
395
431
2,255
636
421
220
748
2,537
3,617
2,591
16, 818
2,997
1,020
808
508
2,180
1,025
468
203
684
2,508
4,419
2,715
15,715
2,854
921
757
435
2,013
1,035
471
233
692
2,249
4,056
2,356
13,279
2,216
715
603
486
1,893
759
454
100
636
2,187
3,231
1,796
85,407
20, 570
64, 838
3,496
2,120
13,999
45, 222
83, 653
20, 301
63,352
3,031
1,869
13,028
45. 424
86,102
20, 808
65, 293
2,623
1,201
12,175
49, 295
103, 869
21, 376
82,493
2,366
1,209
15,888
63,031
113, 558
22,411
91,147
4,932
1,732
18,411
66,073
113,457
20,233
93,314
6,608
1,449
18,749
66, 509
118,096
20,372
97, 723
3,581
1,574
14.028
78, 540
87,418
19, 556
67,861
2,446
2,301
12,771
50,343
86, 651
18,318
68,333
3, 458
1,403
14,024
49,448
111,815
22,147
89, 668
4,768
1, 695
17,414
65,792
111,160
22, 824
88, 335
6,055
2,105
17, 655
62, 520
112,377
22, 692
89, 685
6,075
1,615
18,538
63,456
105,086
21,785
83,301
5,345
1,663
17,408
58,886
•9.3
69.9
70.9
60.5
70.8
70.4
70.4
70.2
'70.4
GOODS IN WAREHOUSES
Space occupied, merchandise in public warehouses
percent of total..
68.2
NEW I N C O R P O R A T I O N S
Business incorporations (4 States)
number._
1,724
1,774
1,818
1, 614
1,723
1,793
1,943
2,210
1,821
2,226
1,874
2,190
1,199
1, 273
1,235
1,299
1,252
1,431
1,244
1,221
1,447
1,356
1, 435
3,720
35, 862
3,842
37, 238
3, 775
36,651
4,170
39, 485
4,067
37,996
4.654
42,202
4,234
39,227
4,140
36,900
41,891
4.171
38,119
4,248
39, 229
P O S T A L BUSINESS
Air mail:
Pound-mile performance
Money orders:
Domestic, issued (50 cities):
Number
Value
millions
thousands..
thous. of doL.
3,907
36,858
r
Revised.
tReviscd series.
For revised data on estimated new mortgage loans by all savings and loan associations, 1936-37, see table 12, p. 16, of the March 1939 Survey.
4,170
38,165
24
SUEVEY OF CURRENT BUSINESS
Monthly statistics through December 1937, together with explanatory notes and references
to the sources of the data may be found in the
1938 Supplement to the Survey
1939
July
September 1939
1939
1938
July
August
September
DecemOctober November
ber
January
February
March
April
May
June
DOMESTIC TRADE—Continued
POSTAL BUSINESS—Continued
Money orders—Continued.
Domestic, paid (50 cities):
Number
Value
Foreign, issued—value.
Receipts, postal:
50 selected cities . .
50 industrial cities
thousands.. 12,142
thous. of doL. 91,709
do
11, 975
92, 785
2,151
12, 543
98,006
2,097
12,846
99,470
2,606
13,989
107,933
1,985
14, 028
106,097
2,280
15, 793
113, 841
7,717
12,939
94,176
2,142
12, 371
88, 734
2,027
15, 307
109,980
3,170
13,164
95,899
2,079
13,724
99,757
2,066
13,918
101,345
25,464
3,271
24, 602
' 3, 304
26, 609
3,446
29, 517
3,472
30,850
3,728
31,426
3,568
42,470
5,154
28, 537
3,667
27, 710
3,493
33,478
3,979
29, 830
3,618
30,922
3,687
20,791
3,687
do
do
RETAIL TRADE*
Automobiles:
Value of new passenger automobile sales:
71.2
107.1
70.8
' 106. 7 ' 106. 3
61.4
96.1
' 101.2
Unadjusted
_
1929-31—100
87.7
49.2
37.1
55.1
99.1
96.0
'79.0
92.5
91.0
79.5
79.0
'88.0
Adjusted
do
81.0
56.5
54.5
100.0
85.0
60 0
Chain-store sales:
Chain-Store Age Index:
Combined index (20 chains)
110.0
107.5
108.8
110.0
111.0
av. same month 1929-31 = 100.112.9
109.8
112.0 ' 108.0
106.0
109.4
109.5
108.0
Apparel chains
do
112.7
130.0
119.0
121.2
127.0
118.0
117.6
129. 0
120.0
116.0
122.0
120.0
118.0
Grocery chain-store sales:
98.7
102.0
102.9
101.1
93.5
' 100.8
Unadjusted
1929-31 = 100..
89.2
96.7
100.5
97.7
88.5
93.0
94.9
Adjusted...
do
96.4
98.2
99.0
101.4
'99.3
98.1
91.0
92.2
99.5
94.4
96.7
99.6
94.9
Variety-store sales:
Combined sales of 7 chains:
79.7
'95.8
85.0
97.6
102.2
193.6
73.6
'96.3
88.0
85.2
94.1
98.2
Unadjusted. _
do
90.5
95.5
97.1
96.3
100.8
100.2
98.7
98.8
Adjusted
do
96.3
104.9
101.7
98 5
98 9
96 7
H. L. Green Co., Inc.:
5,952
2,442
2,733
2,712
1,959
2,869
2,819
1,998
2,366
2,315
2,513
2,502
2,833
Sales
.
thous. of dol
132
133
133
133
133
132
132
133
133
133
132
133
Stores operated
number
132
S. S. Kresge Co.:
8,801
11,293
24,114
9,058
11,940
11,401
10, 606
11,972
Sales
thous. of doL. 10, 369 10,004
10,179
11,125
12, 353
682
683
687
680
681
683
Stores operated
number
685
686
681
683
682
685
685
S. H. Kress & Co.:
5,163
14,429
6,315
6,818
6,406
5,055
5,969
5,822
Sales
thous. of doL. 6,225
6,613
6,336
6,179
6,827
239
238
238
238
238
239
239
Stores operated
number._
238
238
238
240
239
238
McCrory Stores Corp.:
3,420
2,738
3,648
3,300
7,003
2,535
3,196
Sales.
.
thous. of dol
3,294
3,186
2,946
2,955
2,960
3,158
202
202
202
202
202
202
200
200
200
200
Stores operated
number
'200
200
201
G. C. Murphy Co.:
2,752
7,223
3,848
3,741
3,758
2,686
3,205
3,594
3,087
Sales
thous. of doL.
3,301
3,308
3,811
3,564
201
201
201
201
201
201
201
201
201
Stores operated...
number
201
201
201
201
F. W. Woolworth Co.:
24,662
20,686
23,104
25,919
24,725
50,379
19,653
25,295
22, 733
22, 566
23,491
26, 774
Sales
thous. of dol.. 24,340
2,013
2,014
2,012
2,011
2,008
2,005
2,017
2,013
2,017
2,018
2,010
2,011
Stores operated
number
2,015
Restaurant chains (3 chains):
3,275
3,017
3,193
3,460
Sales
thous. of dol__
3,269
0)1
C11)
0)
(*)
(*)
0)
0)
343
338
340
337
336
Stores operated
_. number
0)
C)
0)
C)
0)
0)
Other chains:
W. T. Grant & Co.:
8,386
7,164
8,496
5,748
8,376
5,531
17,996
6,834
8,635
7,653
8,970
Sales
thous. of dol..
'6,969
7,298
493
489
489
491
489
489
491
489
Stores operated
number
484
493
484
484
487
J. C. Penney Co.:
22, 235
14,613
21,281
22,233
18, 736
38,928
16, 523
27,196
19,068
22, 381
26, 820
Sales
thous. of dol
19, 502 ' 18, 262
1,544
1,543
1,542
1,545
1,539
1,540
1,539
1,533
1,537
1,539
1,538
1,530
Stores operated . . . __
number
1,544
Department stores:
Collections:
Installment accounts
16.7
17.3
17.2
16.2
18.6
16.4
17.0
17.2
percent of accounts receivable _ _
15.9
15.8
17.0
14.9
46.8
46.9
45.3
43.9
46.6
47.1
46.4
Open accounts
do
42.4
42.0
46.6
47.1
43 5
83
87
69
82
88
69
156
65
91
92
99
Sales, total U. S., unadjusted...1923-25 = 100-.
60
58
108
119
118
116
101
91
203
120
126
Atlanta
do
79
100
126
88
75
76
54
68
75
64
138
Boston
_
do
55
86
86
73
49
46
67
92
89
89
89
69
157
72
91
96
Chicago
do
96
61
' 59
92
89
82
82
71
152
67
Cleveland
_____
_
do
65
87
89
93
59
63
89
99
104
105
90
87
182
83
117
113
118
Dallas
do
72
87
82
86
74
64
67
151
Kansas City
1925=100
74
92
89
88
61
61
94
97
63
97
95
75
147
109
96
107
81
Minneapolis
1929-31—100
69
68
85
87
80
71
164
68
64
106
New York .
1923-25 = 100
94
62
86
63
98
r 44
67
70
65
52
65
49
127
Philadelphia
do
75
82
48
46
67
105
115
'105
102
75
77
209
Richmond. _
do
127
118
73
81
110
72
82
89
86
75
68
69
92
143
St. Louis
do
63
95
93
58
'92
88
95
89
83
81
San Franciscof.. ._
__
.
do
92
97
170
108
89
81
'78
88
85
86
88
87
88
Sales, total U. S.f adjusted..
do
84
89
89
83
86
86
83
115
125
115
116
119
115
119
128
Atlanta
.
do
127
106
126
111
113
88
91
98
86
84
Chicago
do
86
94
82
88
86
87
93
83
84
85
92
84
87
Cleveland
do
88
86
93
78
82
88
83
78
105
101
105
104
105
Dallas
_
do
114
103
105
105
108
100
105
95
94
95
96
86
91
Minneapolis
1929-31 —100
97
93
92
96
'95
98
97
88
90
91
89
86
New York
1923-25 = J00__
86
92
89
86
85
89
88
90
71
66
68
68
70
Philadelphia
__
do
68
62
67
65
65
68
68
70
86
82
86
88
79
87
St. Louis
_.
do
87
83
82
85
81
87
99
98
'97
97
99
99
San Franciscof
do
100
98
97
93
95
86
103
Installment sales, New England dept. stores
9.0
7.7
10.2
8.5
11.8
11.6
percent of total sales..
14.7
7.1
11.1
10.3
11.5
9.4
Stocks, total U. S., end of month:
68
64
69
69
65
Unadjusted
1923-25=100..
60
62
65
74
*>60
70
78
61
66
67
67
Adjusted
do
68
68
67
67
66
67
67
67
67
Mail-order and store sales:
98,070
92,831 101,936
85, 497
59,865
58, 320
Total sales, 2 companies
thous. of dol..
72, 783
87, 722 100, 012
93, 510 125,706
65, 392
42,323
41,302
35, 730
41, 595
24, 769
57,085
24, 964
Montgomery Ward & Co
__
do
33,452" 29, 075
32, 849
46, 667
42, 295
38, 556
51,236
59,613
56, 768
49, 768
34, 901
33, 551
68, 622
Sears, Roebuck & C o . .
do .
39, 934
51, 215
49,167
53, 345
36, 316
'1 Revised.
*• Preliminary.
Discontinued pending receipt of revised data from one cooperator.
• Reports showing percentage changes in sales of chain drug stores and chain men's wear stores are available from the Washington, D. C,office of the Bureau of Foreign
and Domestic Commerce. The Bureau of the Census has available percentage changes for (1) Independent stores in 27 States and 4 cities, by kinds of business, (2) Whole*
salers' sales, by kinds of business, (3) Manufacturers' sales, by kinds of business.
tRevised series. Indexes of department store sales in San Francisco area revised beginning 1919; data not shown on p . 24 of the August 1939 Survey will appear in a
Subsequent issue.
8
25
SURVEY OF CURRENT BUSINESS
September 1939
Monthly statistics through December 1937, together with explanatory notes and references
to the sources of the data may be found in the
1938 Supplement to the Survey
1939
1939
1938
July
Sep- October Novem- DecemAugust tember
ber
ber
July
January
February
March
April
May
91.3
84.1
87.8
111.3
100.2
120.0
109.9
115.6
140.7
136.4
100.1
89.1
97.9
134.8
105.7
123.7
112.1
119.6
147.8
142.9
115.0
105.2
118.6
141.5
118.5
131.0
118.7
132.0
156.6
144.0
120.2
110.2
116.6
144.8
125.8
130.8
118.0
122.4
164.3
140.9
120.5
113.3
118.8
137.6
131.8
131.2
119.6
129.1
162.2
146.6
June
DOMESTIC) TKADE—Continued
RETAIL TRADE—Continued
Rural sales of general merchandise:
Total U. S., unadjusted
1929-31=100..
Middle West
do....
East
do
South
do
Far West
do
Total U. S., adjusted!
do
Middle Westf
do__
Eastt
do
Southf
do..
Fer Westt
do
91.1
81.8
88.3
103.8
115.2
124.8
110.9
124.1
152.8
140.5
84.8
77.7
82.2
92.9
105.8
116.2
105.3
115.5
136.8
129.0
98.2
90.0
95.0
104.1
125.7
120.1
109.1
119.2
144.3
136.4
121.1
107.9
117.6
148.9
141.6
114.6
105.3
119.6
134.9
121.0
140.9
123.3
139.8
189.3
153.4
108.5
97.1
108.6
127.7
127.7
147.2
135.7
144.1
177.8
161.5
113.1
103.5
111.8
129.5
133.1
183.6
166.4
195.9
202.8
211.0
114.8
106.7
117.6
135.0
129.3
120.0
109.9
122.8
133.3
137.3
131.7
116.4
133.8
165.8
144.1
EMPLOYMENT CONDITIONS AND WAGES
EMPLOYMENT
Factory, unadjusted (U. S. Department of
Labor)t
1923-25=100..
90.5
81.9
85.7
88.8
89.5
90.5
91.2
89.5
90.7
91.4
r 91.1
90.1
'90.6
Durable goods
do....
82.1
70.3
71.7
75.3
79.0
82.1
83.1
81.6
82.6
83.5
84.1
83.3
'83.9
Tron and steel and their products, not incl.
machinery
1923-25=100..
86.8
76.7
79.4
81.7
83.9
86.5
87.4
85.9
87.2
88.3
88.3
87.3
'87.5
Blast furnaces, steel works, and rolling
mills
1923-25=100..
92.0
82.2
83.8
84.7
86.1
89.8
91.1
90.9
91.5
92.2
92.3
91.3
92.3
Hardware
do
66.9
56.5
60.6
66.9
79.5
84.4
86.3
84.7
83.2
83.0
80.7
76.1
'68.5
Structural and ornamental metalwork
1923-25=100..
69.3
59.1
59.8
60.5
61.1
60.7
61.9
61.7
64.0
66.2
66.9
67.2
'67.8
T i n cans and other tinware
do._._
96.0
91.4
99.5
97.6
86.2
84.6
84.1
82.8
83.7
85.5
88.2
89.1
'93.0
L u m b e r and allied products
do
67.3
60.7
64.0
65.8
65.7
65.2
64.1
61.9
62.6
62.6
64.3
65.3
'66 8
Furniture
do....
80.0
71.2
76.0
79.0
79.7
79.5
79.8
76.3
78.8
78.9
77.9
77.0
78.7
L u m b e r , sawmills
do___.
54.7
49.8
52.4
53.5
53.1
52.3
50.9
49.1
49.1
49.1
51.8
53.7
54.4
Machinery, not incl. transportation equipment
1923-25=100..
95.6
82.9
84.1
85.5
87.2
89.5
91.8
91.4
93.4
94.7
95.1
94.9
95.6
Agricultural implements (including tractors)
1923-25=100..
108.1
100.6
99.8
90.3
93.7
96.6
105.5
111.4
121.5
124.8
123.8
117.5
'113.6
Electrical machinery, apparatus, and
supplies
1923-25=100..
86.0
73.0
74.0
77.4
80.7
83.2
83.9
82.1
83.6
85.2
86.1
85.9
'85.8
Engines, turbines, water wheels, a n d
windmills
1923-25=100..
96.6
82.1
82.6
83.1
83.4
83.5
85.3
87.1
90.6
93.8
96.3
98.0
'99.6
F o u n d r y and machine-shop products
1923-25=100..
85.1
75.8
77.1
77.7
77.5
78.9
81.7
81.8
83.4
84.1
84.5
84.6
85.1
Radios and phonographs
do
117.0
81.6
88.9
93.5
108.0
118.8
118.0
108.4
102.5
98.9
94.6
96.4 ' 1 0 8 5
Metals, nonferrous, and products
do
91.6
79.1
83.0
87.9
92.2
95.4
95.0
92.2
93.6
94.3
93.5
92.4
'91.6
Brass, bronze, and copper products-do
98.0
86.1
89.0
92.7
96.4
100.5
100.2
98.3
98.8
99.2
98.4
99.1
'98 7
Stone, clay, and glass products
do
73.6
64.6
66.3
67.8
70.1
71.6
70.5
66.4
66.6
69.6
72.7
72.5
'74.4
Brick, tile, and terra cotta
do
57.3
48.8
49.9
51.2
52.0
52.4
51.3
48.9
48.1
49.7
53.6
53.6
'57 1
Glass
do
90.0
74.7
78.7
82.1
87.5
92.1
93.0
89.6
89.5
90.6
91.9
91.5
'93.0
Transportation equipment
do
78.4
55.5
51.0
63.7
79.4
91.6
96.1
95.8
95.9
95.7
95.2
90.3
'89.9
Automobiles
do
75.6
53.1
48.0
64.9
86.3
101.9
106.8
106.1
104.4
103.8
101.8
93.3
'91.6
Nondurable goods
do
98.5
92.9
99.0
101.7
99.4
98.4
98.8
97.1
98.4
98.9
'97.8
96.7
'97.0
Chemicals a n d petroleum refining
do
109.6
105.0
108.1
113.0
113.4
113.0
112.7
112.0
112.1
114.5 '114.8
'111.5
'109.2
Chemicals
do
115.0
107.8
110.3
112.5
114.8
117.2
116.9
115.5
116.1
116.5 ' 1 1 5 . 0
114.5 '114.5
Paints a n d varnishes
do
117.1
110.8
110.6
112.5
112.9
112.4
112.4
111.8
112.5
114.9
117.6
118.4
119.3
Petroleum refining
do....
120.9
121.8
121.9
121.0
119.5
118.9
118.1
117.1
116.4
116.3
116 1
117.0
'119.4
R a y o n and allied products
do
313.7
270.5
293.9
315.2
314.4
312.8
311.3
313.2
319.1
316.9
315.4
308.5
'303.6
Food and kindred products
do
129.5
128.6
138.3
142.7
128.8
123.4
120.1
113.7
111.0
112.0
114.0
116.8
'122.8
Baking
do
147.0
145.0
144.5
145.6
144.3
144.6
143.5
140.3
141.5
142 1
142.0
145.4
'146.7
Slaughtering and meat packing
do
99.0
94.7
94.2
95.5
97.4
100.7
102.4
99.8
94.6
92.5
91.8
95.4
«• 97.8
Leather a n d its manufactures
do
93.2
89.3
92.7
92.3
89.6
84.8
88.6
92.9
96.7
97.6
94.0
87.0
'88.1
Boots and shoes
do
93.5
91.4
94.6
93.8
89.9
83.3
87.6
92.7
97.2
98.5
94.5
86.4
'87.4
Paper and printing
do
105.5
101.5
102.7
104.3
105.5
107.0
108.0
105.7
105.9
105.9
105.9
106.0
'104.7
Paper and pulp
do
106.2
101.6
102.8
104.0
104.8
105.9
106.3
105.5
106.3
105.9
106.3
106.7
'106.1
R u b b e r products
do
78.7
68.7
72.5
75.9
77.7
82.4
83.6
81.1
81.5
82.8
82.1
81.2
'80.2
R u b b e r tires a n d inner tubes
do
67.3
60.7
60.6
61.9
63.5
66.1
67.2
67.1
66.1
67.2
67.2
67.2
' 66.7
Textiles a n d their products
do
94.9
86 6
95.1
97.9
97.5
96.9
98.6
97.5
101.2
101.4
98.6
96.1
'94.9
Fabrics
do....
89.0
80.4
85.1
86.6
87.2
89.5
91.8
90.8
92.1
91.2
88.8
'88.3
'87.8
Wearing apparel
do
106.6
98.9
116.3
122.1
119.6
112.0
112.2
111.0
120.1
123.0
119.0
112.2
'109.3
Tobacco manufactures
do
64.0
61.5
64.3
66.3
66.3
66.9
65.2
59.2
62.4
59.5
61.7
62.8
63.8
Factory, adjusted (Federal Reserve)t
do
91.7
82.9
84.9
86.9
87.5
90.0
91.6
91.7
91.3
91.0
90.8
90.4
'91.4
Durable goods
do
82.6
70.7
72.0
75.7
77.9
81.3
83.2
83.6
83.4
83.0
83.2
82.2
'83.2
Iron a n d steel a n d their products, not incl.
machinery
1923-25 = 100..
87.6
77.3
79.4
80.9
83.1
86.2
88.1
87.7
87.6
87.7
87.6
86.7
87.4
Blast furnaces, steel works, and rolling
mills
1923-25 = 100..
93
83
84
85
86
90
92
92
91
91
91
91
93
Hardware
do
68
57
62
67
79
84
86
85
83
82
80
76
'69
Structural a n d ornamental metalwork
1923-25=100..
68
58
58
58
60
60
63
63
67
68
68
68
67
T i n cans and other tinware
do
91
86
90
89
84
87
88
89
90
90
91
90
91
L u m b e r a n d allied products
do
66.7
60.2
61.9
63.2
62.9
64.5
65.3
66.3
65.6
63.7
64.6
65.2
65.9
Furniture
do
82
73
75
76
75
76
79
79
80
80
81
80
81
L u m b e r , sawmills
do
53
49
50
51
51
53
53
54
53
50
51
53
53
Machinery, not incl. transportation equipment
1923-25=100..
96.0
83.3
84.7
85.2
86.8
89.1
91.6
92.1
93.9
94.9
94.9
94.4
95.4
Agricultural implements (including tractors)
1923-25 = 1 0 0 .
110
103
106
96
99
99
105
109
118
118
116
114
'112
Electrical machinery, apparatus, and
supplies
1923-25 = 100,.
86
73
74
77
80
83
84
83
84
85
86
85
86
Engines, turbines, water wheels, a n d
windmills
1923-25 = 100..
95
81
83
83
86
88
88
93
92
92
92
93
96
F o u n d r y a n d machine-shop products
1923-25 = 100..
86
76
77
78
78
79
82
82
83
84
84
84
85
Radios a n d phonographs
do
118
82
82
81
89
106
111
114
116
118
113
110
'111
Metals, nonferrous, a n d products
do
94.9
82.0
84.4
86.7
89.0
92.3
93.5
93.7
94.0
93.9
93.7
93.2
'93.3
Brass, bronze, and copper products.do
99
87
90
93
95
101
100
99
99
98
97
98
99
Stone, clay, a n d glass products
do
72.3
63.4
64.0
65.4
67.8
71.1
72.0
73.6
71.5
71.8
72.2
69.7
'71.6
Brick, tile, a n d terra cotta
_.do
54
46
46
48
49
52
53
57
55
54
54
51
53
Glass
do
92
76
79
82
87
92
93
94
90
89
91
90
92
Transportation equipment
do
80.3
56.9
55.9
74.2
81.5
89.9
93.9
93.3
92.0
90.4
90.3
86.3
'88.0
Automobiles
..do
78
55
55
79
89
99
104
102
98
97
96
89
'89
' Revised.
tRevised series. Rural sales of general merchandise adjusted for seasonal variations revised beginning J a n u a r y 1934; see table 37, p . 17 of t h e August 1939 issue. Data
on factory employment, unadjusted (U. S. Department of Labor), revised beginning 1933; see table 76, p. 13 of the November 1938 issue and table 1, p. 15, of the December
1938 issue. Factory employment, adjusted (Federal Reserve), revised in its entirety; data not shown in table 76, p. 13, of the November 1938 Survey, or in table 1, p. 15, of the
December 1938 issue are available upon request.
173409—39
4
26
SURVEY OF CURRENT BUSINESS
Monthly statistics through December 1937, together with explanatory notes and references
to the sources of the data may be found in the
1938 Supplement to the Survey
1939
July
September 1939
1939
1938
July
August
September
DecemOctober November
ber
January
February
March
April
June
May
EMPLOYMENT CONDITIONS AND WAGES—Continued
EMPLOYMENT—Continued
Factory, adj. (Federal Reserve)f— Continued.
Nondurable goods
1923-35=100..
100.3
Chemicals and petroleum refining
do
112.4
Chemicals
do
113
Paints and varnishes
do
117
Petroleum refining
do
120
Rayon and allied products
do
315
Food and kindred products
do
123.8
Baking
do
146
Slaughtering and meat packing
do
99
Leather and its manufactures
do
92.3
92
Boots and shoes
do
107.1
Paper and printing
do
106
Paper and pulp
do
Rubber products
do
79.8
Rubber tires and inner tubes
do
67
Textiles and their products
do
100.7
Fabrics
do
92.4
Wearing apparel
do
117.8
Tobacco manufactures
do
64.4
Factory, unadjusted, by cities and States:
City or industrial area:
Baltimore
1929-31=100..
92.5
Chicago
1925-27=100-70.9
Cleveland
1923-25=100..
80.3
Detroit
do
59.5
Milwaukee
1925-27=100..
92.2
New York
do
«3.1
Philadelphia
1923-25= 100..
91.7
67.4
Pittsburgh
do
86.7
Wilmington
do
State:
94.2
Delaware
do
78.3
Illinois
1925-27= 100..
129.2
Iowat
1923-25=100_.
96.7
Maryland
1929-31 = 100. _
73.3
Massachusetts
1925-27=100..
78.1
New Jersey
1923-25=100..
80.6
New York
1925-27=100..
87.0
Ohio
1926=100..
76.8
Pennsylvania
1923-25=100..
88.8
Wisconsinf
1925-27=100..
Nonmanufacturing, unadjusted (U. S. Department of Labor):
Mining:
44.7
Anthracite
1929=100..
80.3
Bituminous coal
do
59.1
Metalliferous
do
67.5
Petroleum, crude, producing
do
47.4
Quarrying a n d nonmetallic
do
Public utilities:
Electric light a n d power, and manufactured
93.5
gas
1929=100..
70.0
Electric railroads, etc
do
76.4
Telephone and telegraph
do
Services:
106.6
Dyeing and cleaning
do
99.8
Laundries
do - . . .
90.4
Year-round hotels
do
Trade:
83.4
Retail, total
...do
91.6
General merchandising
do
81.2
Other than general merchandising.do
88.1
Wholesale
do
Miscellaneous employment data:
51.0
Construction employment, Ohio. .1926=100..
Federal and State highway employment:
Total
number _. 264, 502
138, 345
Construction (Federal and State)_.do
Maintenance (State)
do . 126,157
Federal civilian employees:
United States
do
District of Columbia..
do,...
Railway employees (class I steam railways):
Total
thousands..
Index:
56.1
Unadjusted
1923-25=100..
54.7
Adjusted
do
Trade-union members employed:
All trades
percent of total..
Building
do
Metal
do
Printing
do
All other
do
On full time (all trades)
do—..
94.5
108.3
106
110
121
272
122.2
144
95
88.4
90
103.0
102
69.5
61
92.1
83.4
109. 8
61.9
97.2
111.0
110
113
121
292
123.0
144
95
89.6
91
103.7
103
73.4
61
96.4
87.2
115.7
62.9
97.6
111.4
111
114
120
312
122.2
143
96
91.3
92
104.0
104
76.0
62
97.0
87.1
117.9
64.3
111.2
113
113
119
313
119.2
142
97
90.8
91
104.3
105
76.8
64
95.6
86.3
115.4
63.2
98.3
111.8
117
114
118
310
122.8
143
99
91.4
92
105.4
106
81.7
66
96.7
88.6
113.6
63.7
99.5
112.3
117
114
118
310
124.2
144
99
92.1
92
106.0
106
83.2
67
98.9
90.3
116.4
64.2
112.4
117
115
118
310
124.2
143
96
92.8
93
106.0
106
81.3
67
98.4
90.0
116.0
64.5
83.6
64.7
70.0
47.8
85.3
73.1
80.7
59.8
76.4
85.1
65.4
74.0
56.8
85.9
81.7
82.9
60.8
77.6
87.2
67.2
76.9
72.1
84.4
87.7
84.4
62. 1
86.8
68.7
79.4
88.0
85.4
88.3
86.1
64.4
81.0
86.5
69.6
80.6
97.6
89.0
86.1
88.1
65.9
82.2
87.2
70.6
82.3
102.9
92.4
86.9
90.9
66.4
86.9
86.6
70.0
123.9
88.1
63.2
72.5
72.3
75.4
69.2
91.3
99.5
72.0
125.1
90.0
70.0
74.7
76.5
77.6
71.7
86.0
94.2
73.7
126.9
91.9
71.8
75.7
80.3
80.8
73.4
83.1
87.7
74.4
130.5
91.3
72.4
75.2
80.8
82.3
74.4
81.4
87.8
75.3
127.9
90.8
72.6
76.9
80.3
84.9
75.4
81.5
44.6
78.5
49.7
72.3
44.1
37.6
80.1
51.4
72.4
44.6
46.4
83.4
55.2
71.5
44.6
52.4
87.2
57.9
69.5
44.4
92.3
70.1
74.9
92.7
69.5
74.8
92.5
69.3
74.9
108.6
97.8
90.7
105.0
97.5
90.4
81.1
87.9
79.3
80.0
86.4
78.3
87.6
98.7
111.7
98.6
112.0
98.0
112.9
98.2
113.1
121.3
122.5
122.3
123.7
92.9
93.2
91.7
88.1
105.9
106.3
106.3
106. 3
81.3
82.3
81.4
81.2
98.5
89.8
116.6
63.5
97.7
89.2
115.5
60.3
96.4
88.3
112.8
63.2
96.4
89.0
111.7
63.7
98.0
r90.1
r
114.0
64.2
84.8
69.7
81.8
100.8
90.6
85.4
89.6
65.3
87.7
86.7
70.4
81.8
99.3
93.6
89.1
91.5
66.0
89.3
89.2
70.6
82.3
97.7
94.8
90.5
91.0
66.7
90.6
90.3
69.8
82.2
96.0
94.5
88.0
90.8
67.2
92.1
91.7
70.0
81.8
62.4
92.9
85. 5
90.0
65.8
91.6
'91.7
70.5
81.4
86.7
94.3
83. 6
'91.0
'67.6
'88.4
91.9
76.1
131.0
91.6
73.8
77.7
81.3
86.4
76.2
82.4
92.7
75.2
127.6
89.4
73.0
76.7
80.0
84.9
74.6
94.3
76.8
128. 0
92.4
74.6
77.6
81.9
86.0
76.3
82.7
95.2
77.8
129.0
94.5
74.8
77.9
82.7
87.1
76.5
83.6
97.0
77.6
131.1
95.5
73.1
77.5
82.0
86.6
76.2
83.7
96.7
77. 6
131.9
95. 8
71. 6
78.0
80.4
85.2
* 75. 0
84.5
'93.7
78.1
133.2
r
95. 8
71.2
78.9
80.9
85. 5
' 75 7
86.8
51.0
88.6
61.9
68.3
44.4
51.3
89.3
62.3
67.8
41.4
50.0
88.7
62.6
67.0
38.3
52.2
88.6
60.9
66.4
37.9
51,7
87.4
61.0
66.2
40.1
53.0
25.9
61.5
65.8
43.0
52. 6
'47.9
'61.9
' 66. 1
45.6
51.2
'79.1
' 61 2
' 67. 0
47.4
92.5
69.9
74.7
91.9
69.5
74.4
91.4
69.4
74.3
90.0
69.2
74.1
89.6
69.3
73.3
89.6
69.5
73.4
90.3
69.1
74.1
'91.0
' 09. 6
'75. 5
'92.2
' 09. 9
70. 1
107.8
96.5
91.8
106.8
94.4
92.9
102. 5
93.7
92.-5
97.9
93.4
92.0
94.2
93.3
91.8
92.1
92.8
92.6
95.4
92.9
92.7
102. 2
93.5
93.2
107. 0
95. 5
' 93. 9
MOO.
9
r
98. 7
r
93. 2
84.7
97.0
81.5
88.5
85.9
99 4
82.3
89.1
86.9
104. 5
82.3
89.8
98.1
144.1
86.0
90.0
82.2
90.7
80.0
88.3
81.5
88.8
79. 6
87.9
83.8
93.2
81.3
87.4
85.5
96. 9
82.5
87.3
85.7
'96.8
'82.8
'87.2
' 80. 2
'r 97. 2
S3. 3
r
88.1
96.7
99.5
118
114
118
314
144
95
93
106
66
118
115
117
312
144
94
93
106
67
115
116
117
322
143
95
92
106
67
115
114
118
315
145
97
88
107
67
99.2
• 112.2
115
115
119
313
• 124.6
146
98
'90.9
91
f 105. 9
106
'81.1
r
r
67
36.5
36.1
35.8
34.7
35.2
32.0
28.7
28.6
32.4
35.0
43.0
43.6
322, 508
153,602
168, 906
323, 650
153,509
170,141
337, 638
164, 444
173,194
350, 090
164, 696
185, 394
341,832
138,512
203, 320
266, 629
103,491
163,138
201, 307
73,116
128,191
176, 079
58, 815
117, 264
109,155
58, 622
110,533
187, 523
78, 394
109,129
220,923
104, 804
116,119
252. 310
130,743
121, 573
864,827 872, 347
116, 231 117,054
872, 644
118,172
873, 853
118,455
869, 389
119,107
919,161
120,852
864,342
120,229
875, 541
120, 445
879, 504
120, 873
885,706 '903,112
122,003 '122, 792
925, 200
123, 505
945
955
979
992
977
961
948
958
966
967
974
52.1
50.8
52.6
51.3
53.9
52.9
54.7
53.2
53.8
53.4
52.8
54.
52.2
54.4
52.7
54.8
53.1
54.6
53.2
53.6
53.6
53.0
55. 0
'54.4
82
65
75
87
83
64
75
87
84
68
73
85
68
74
88
89
66
85
66
79
87
90
66
86
68
82
88
91
67
87
71
83
90
91
69
88
75
83
90
91
70
89
78
84
90
92
70
65
85
67
78
88
89
65
1,010
r
LABOR CONDITIONS
Average weekly hours per worker in factories:
National Industrial Conference Board (25 in37.2
dustries)
hours..
36.5
37.2
36.9
36.7
36.6
36.8
36. 8
35.2
36.9
33.8
36.2
36.6
U. S. Department of Labor (87 industries)!
37.2
37.4
36.7
36.9
37.1
36.4
hours..
36.3
36.3
36.5
34.7
36.9
37.1
' Revised.
fRevised series. Iowa employment revised beginning July 1937; revisions are shown on p. 26 of the March 1939 Survey. Wisconsin employment and pay rolls have been
adjusted, beginning 1929, to trends indicated by Census data. Indexes not shown on p. 20 of the November 1938 Survey will appear in a subsequent issue. P"or data on factory employment, adjusted (Federal Reserve) revised, sec footnote marked with a " t " on p. 25. For average weekly hours per worker in factories, see note marked with
a"t" on p. 29.
27
SURVEY OF CURRENT BUSINESS
September 1939
Monthly statistics through December 1937, together with explanatory notes and references
to the sources of the data may be found in the
1938 Supplement to the Survey
1938
1939
July
July
August
September
1939
DecemOctober November
ber
January
February
March
April
May
June
EMPLOYMENT CONDITIONS AND WAGES—Continued
LABOR CONDITIONS—Continued
Industrial disputes (strikes and lockouts):
Beginning in monfh
number..
*210
In progress during month
do
v 345
Workers involved in strikes:
Beginning in month
thousands.r> 165
In progress during month
do
v 200
Man-days idle during month
do
* 1,000
Employment Service, United States:
Applications:
Active
file
do
6,101
New
do
494
Placements, total
do
28G
Private
do
213
Ratio of private placements to active file
percent. .
3.5
Labor turn-over in mfg. establishments:
Accession rate., .mo. rate per 100 employees. _
4.19
Separation rate:
Total
do
2.72
Discharge
do
.12
Lay-off
do
1.91
Quit
do
.69
208
387
262
434
222
384
256
406
207
372
177
310
'172
'292
' 180
' 305
' 192
'312
'209
'342
'207
'345
50
86
776
48
81
831
96
133
990
53
113
842
43
75
558
38
62
513
49
70
512
'67
'86
41
'62
'91
'540
'591
'390
'418
' 4, 861
'450
' 3, 473
110
8,088
8,119
7,966
7,743
7, 529
7,216
7,434
7,080
6,749
6,545
6,382
705
228
156
623
271
190
523
281
203
565
292
208
503
251
178
477
230
161
644
199
130
483
181
126
500
254
185
478
270
195
516
333
242
' 6,283
570
344
251
*338
1.9
2.3
2.5
2.7
2.4
2.2
1.7
1.8
2.7
3.0
3.8
4.0
4.81
5.29
4.51
5.19
4.24
3.22
4.09
3.06
3.34
2.95
3.29
3.92
3.81
3.08
3.56
3.30
3.14
3.88
3.19
2.61
3.18
3.46
3.48
3.31
.12
2.46
.73
.09
.10
12
.12
.10
.09
.10
.10
.13
.10
3.13
2.33
2.62
2.40
2.44
3.21
2.24
1.87
2.23
2.60
.59
.65
.82
.78
.60
.58
.85
.64
.82
.76
.13
2.67
.68
PAY ROLLS
Factory, unadjusted (U. S. Department of
85.4
86.9
83.4
84.9
84.1
86.5
76.9
Labor) t
1923-25=100.70.6
83.8
81.0
83.8
84.4
Durable goods
do
76.6
78.4
80.1
80.2
78.3
80.4
75.2
68.7
63.7
58.6
76.4
79.5
Iron and steel and their products, not incl.
77.7
81.6
machinery
1923-25 = 100..
79.8
79.1
80.1
80.8
74.9
65.3
57.4
68.6
77.2
'78.4
Blast furnaces, steel works, and rolling
82.1
83.4
84.8
mills
1923-25 = 100.83.2
81.9
67.6
82.8
73.9
65.3
56.8
' 79 9
79.7
Hardware
do
76.7
81.8
78.9
81.9
90.1
93.2
86.3
65.7
57.6
48.3
69.6
75.1
Structural and ornamental metalwork
1923-25 = 100.57.6
51.8
54.6
53.2
59.5
50.1
51.2
50.5
49.7
48.8
59.1
60.8
Tin cans and other tinware
do
94.0
86.6
85.8
92.6
87.9
87.5
89.2
103.0
107.0
94.4
105.0
96.8
Lumber and allied products
do
55.7
52.0
53.0
53.9
56.1
56.2
60.0
60.0
58.1
48.7
58.2
56.7
Furniture
do
63.5
60.3
66.0
66.1
67.8
64.9
68.4
68.1
62.5
51.3
63.1
64.7
Lumber, sawmills
do
46.3
42.4
41.1
42.4
44.9
46.4
50.4
50.6
50.2
41.6
50.3
46.7
Machinery, not incl. transportation equipment
1923-25 = 100..
94.2
91.7
93.7
87.4
89.4
83.9
81.9
76.1
72.7
78.6
94.6
94.9
Agricultural implements ( i n c l u d i n g
136.7
tractors)
1923-25 = 100-.
131.9
114.4
92.4
134.9
112.7
95.0
87.1
95.6
98.6
114.6
126.0
Electrical machinery, apparatus, and
87.2
87.0
supplies
1923-25 = 100..
86.5
83.5
80.6
82.7
80.4
64.1
67.7
85.7
78.0
73.0
Engines, turbines, water wheels,
112.4
117.2
windmills
1923-25 = 100.98.4
112.1
89.9
115.1
106.9
98.0
91.6
90.4
85.9
90.0
Foundry and machine-shop products
79.9
80.4
79.5
1923-25 = 100..
78.8
74.8
78.0
75.9
70.6
67.2
69.4
68.1
63.7
84 1
101 8
Radios and phonographs
do
OC Q
80.8
96.8
87.7
85.1
107.6
106.9
97.9
83.5
75.5
72.4
84". 9
OO. O
Metals, nonferrous, and products
do
86.0
84.6
88.3
89.2
90.3
90.2
88.5
81.4
74.1
67.0
qq A4
98 6
yy.
Brass, bronze, and copper products.do
'95.9
93.0
96.4
98.6
98.9
99.8
96.2
89.1
83.4
77.9
'64.1
62. 5
Stone, clay, and glass products
do
63.0
56.8
58.0
61.7
63.5
63.8
63.0
58.3
56.5
53.1
40.4
43.3
Brick, tile, and terra cotta
do
39.6
36.7
35.6
37.2
39.4
39.0
40.6
38.6
37.2
35.4
Glass
do
87. 0
89.4
92.0
93.3
95.3
91. 7
99.4
98.6
92.9
82.6
78.6
69.1
75.0
Transportation equipment
do
94.4
93.5
91.8
92.0
87. 6
97.9
95.9
83.8
64.7
49.9
51.0
Automobiles
do
70. 8
99.5
101.3
97.3
97.0
88. 0
107.4
107.6
91.3
66.3
47.0
47.4
92.1
Nondurable goods
do
90.2
91.0
93.1
94.6
89.9
93.4
90.6
93.4
94.9
91.7
84.1
Chemicals and petroleum, refining.__do
118. 6
119.8
119.9
121.7 ' 120. 4 ' 120. 4
120.1
119.1
120.1
118.9
116.9
111.1
128.1
Chemicals
do
127.9
127.9
129.6
130.9
129.8
128.9
128.1
128.1
121.4
121.0
114.5
Paints and varnishes
do
121. 4
123.2
113.1
115.7
120.4
115.4
127. 3
113.8
116.3
114.5
111.2
111.0
Petroleum refining
do
131. 2
128.5
134.5
132.4
131.5
134.1
132.1
133.6
132.8
134.6
138.1
135.3
Rayon and allied products
do
311. 3
304.4
309.5
314.4
313.4
302.4
298. 3
302.7
302.6
308.2
289.0
249.5
Food and kindred products
do
130.0
113.9
115.3
112.1
113.8
120.9
120. 9
122.4
127.0
136.7
131.1
128.5
Baking
do
145. 9
135.7
136.1
136.6
138.0
138.2
143.4
139.7
139.5
143.5
139.8
142.8
112.3
Slaughtering and meat packing
do
99.5
111.1
101.3
100.6
112.5
107.7
110.0
110.0
108.7
104.8
107.9
Leather and its manufactures
do
76. 8
74.5
77.5
83.3
83.2
70.0
64. 2
62.4
69.6
74.0
70.0
69.4
73.1
Boots and shoes
do
70.1
72.6
79.6
80.1
63.3
57. 9
54.4
64.5
70.9
75.1
67.0
101.0
Paper and printing
do
103.3
102.2
102.3
104.2
107.3
103.9
103.3
103.7
101.1
98.0
95.9
101.4
Paper and pulp
do
104.6
102.6
105.1
105.5
103.4
105.5
102.9
106.5
101.5
101.9
96.9
82.8
Rubber products
do
'83.1
83.9
83.0
85.4
89.0
82.1
85.2
79.7
76.7
69.5
64.1
78.1
Rubber tires and inner tubes
do
73.6
76.2
72.9
76.1
79.0
73.5
75.3
69.1
67.3
60.6
60.0
77.5
Textiles and their products
do
79.8
81.0
87.8
89.0
83.3
77.8
78.4
83.1
84.0
80.0
66.6
75.6
Fabrics
do
73.9
78.9
81.2
79.4
81.1
74.3
77.3
76.5
74.7
73.4
65.7
78.7
88.8
82.4
97.7
104.8
84.6
'82.1
78.0
93.0
99.5
90.4
66.0
Wearing apparel
do
59.8
Tobacco manufactures
do
53.2
49.7
50.9
51.5
59.6
55.8
59.8
60.7
61.0
59.0
57.1
Factory, unadjusted, by cities and States:
City or industrial area:
107.2
99.5
103.2
99.4
92.3
102.5
87.1
96.0
96.8
96.7
94.0
Baltimore
1929-31 = 100 . 110.5
57.1
57.3
59.0
57.3
57.8
55.9
58.5
55.2
54.0
52.2
50.8
59.1
Chicago
1925-27= 100..
88.8
95.4
94.7
94.7
92.8
89.9
92.8
84.7
81.1
84.3
79.0
92.4
Milwaukee
do
77.6
82.0
86.9
79.5
77.7
76.0
79.0
80.6
83.6
75.5
66.7
76.3
New York
do
87.7
90.2
91.1
87.3
88.4
84.5
89.6
83.8
82.7
79.3
Philadelphia
1923-25= 100..
76.1
93.0
79.1
82.8
83.5
81.1
79.8
78.6
80.0
73.6
66.7
66.4
58.0
80.0
Pittsburgh
do
84.9
85.8
88.2
90.0
89.1
75.9
76.4
84.2
75.4
74.1
Wilmington
do
72.9
83.3
State:
82.3
78.3
74.4
70.2
83.4
71.6
79.6
81.7
78.5
74.7
79.0
71.7
Delaware
do
63.2
65.1
67.3
66.2
66.4
62.6
64.9
62.2
60.3
58.9
55.9
66.6
Illinois
1925-27=100
97.9
102.2
105.3
104.5
101.9
107.0
98.7
98.7
95.7
93.9
Maryland
1929-31=100..
89.0
110.3
Massachusetts
1925-27=100..
68.2
68.3
70.9
71.2
69.5
67.0
67.6
66.3
67.1
64.5
57.1
70.1
75.9
77.2
79.0
77.1
77.8
78.3
74.6
75.0
72.6
70.9
New Jersey
1923-25= 100__
68.4
78.6
New York
1925-27=100..
76.4
74.4
76.8
79.4
75.8
74.4
75.0
72.9
75.3
70.0
64.9
75.8
Pennsylvania
1923-25= 100..
74.2
73.5
76.2
77.6
75.6
'73.9
72.3
73.3
68.9
66.9
61.3
75.9
Wisconsinf
1925-27= 100__
85.3
79.5
85.7
86.7
83.8
86.1
80.9
81.6
77.7
80.3
81.3
86.1
' Revised.
v Preliminary.
t Revised series. Data on factory pay rolls (U. S. Dept. of Labor) revised beginning 1933; see table 77, p. 17 of the November 1938 Survey and table 2, p . 16
December 1938 issue. For Wisconsin pay rolls, see footnote marked with a " t " on p. 26.
'85.9
'81.4
80.7
'83.4
'71.4
'60.6
' 102. 4
' 60.4
' 64. 9
'51.9
'96.4
'118.9
'88.0
'117.5
'82.4
'95.2
'86.7
'99.0
'66.9
46.2
'96.0
'89.2
'88.6
91.0
r
119.8
' 129.1
' 126. 4
r 134. 4
r 301. 8
<• 125. 6
' 145.1
' 109. 8
'69.3
'63.2
' 102. 2
' 104. 4
'84.2
'76.8
'77.6
'74.6
'80.9
58.9
110.5
58.7
96.5
76.9
91.9
'85.0
'88.5
'82.0
67.3
110.4
67.5
80.0
75.9
'77.9
89.2
of the
28
SURVEY OF CURRENT BUSINESS
Monthly statistics through December 1937, together with explanatory notes and references
to the sources of the data may be found in the
1938 Supplement to the Survey
1939
July
September 1939
1939
1938
July
August
September
DecemOctober November
ber
January
February
March
April
May
June
EMPLOYMENT CONDITIONS AND WAGES—Continued
PAY ROLLS—Continued
Nonmanufacturing, unadjusted (U. S. Department of Labor):
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.
Services:
Dyeing and cleaning
...
..do.
Laundries
do.
Year-round hotels
.do.
Trade:
Retail, total
-do.
General merchandising
do.
Other than general merchandising..do
Wholesale...
do.
25.2
63.4
45.7
62.4
40.8
20.2
56.8
38.0
66.7
37.0
20.0
64.2
43.7
66.8
39.2
29.4
71.9
46.1
66.5
38.4
43.4
78.3
49.2
63.7
39.2
36.2
81.4
52.3
63.3
37.2
42.5
80.9
54.1
62.5
33.7
38.0
78.2
55.3
60.9
30.2
45.2
81.2
53.4
62.7
29.7
34.2
77.8
53.6
61.3
33.1
«• 17.6
52.6
60.8
35.9
57.0
' 20.4
"54.1
61.2
39.7
36.1
'70.6
'53.9
62.4
'41.8
100.0
70.9
93.7
98.3
69.0
90.9
98.9
69.5
91.3
98.4
68.4
92.6
99.9
68.9
95.3
98.6
68.8
93.0
98.2
69.7
92.5
95.9
71.1
92.0
96.4
69.9
91.7
96.8
70.5
91.9
"96.9
69.6
92.1
'98. 8
70.1
'93.7
'100.2
'71.2
'93.0
77.3
87.8
79.4
77.5
83.0
77.4
74.3
83.1
77.4
81.7
81.4
78.9
78.0
79.5
80.8
73.9
79.3
81.3
68.3
80.0
81.1
65.8
79.6
80.2
63.2
78.6
82.8
67.7
79.3
81.1
73.3
79.9
81.9
83.0
83.9
'82.4
'84.1
'8(>.y
'82.1
70.7
83.8
68.0
76.0
68.1
80.4
65.6
73.6
66.8
78.8
64.3
73.7
69.4
85.3
66.1
74.3
70.8
88.3
67.2
75.1
71.5
91.8
67.3
75.4
79.2
122.9
70.1
75.7
69.7
84.0
66.7
75.5
68.4
81.0
65.8
74.6
69.6
83.4
66.8
74.7
71.3
86.6
68.1
74.8
71.5
'86.7
68.3
74.9
72.4
'87.9
69.2
'75.7
23.93
24.93
25.73
26.14
26.32
26.02
25.95
26.11
26.25
26.27
26.19
26.79
22.06
23.53
22.90
24.98
23.32
25.80
23.95
26.95
23.82
27.11
24.31
27.34
23.86
26.65
24.06
26.85
24.23
27.10
23.85
27.00
23.90
26.93
24. 25
27.43
21.91
24.11
24.59
25.94
26.64
26.91
26.37
26.70
27.01
' 26. 46
' 26.17
26.89
21.70
20.77
24.70
23.06
25.25
23.86
26.79
26.32
28.48
26.79
28.49
25.31
28.18
23.42
28.47
23.04
28.81
23.93
28.07
23.05
' 27. 40
23.87
28.30
25.21
26.01
22.44
18.64
17.87
18.29
26.94
23.40
21.02
20.43
20.90
25.93
22.85
21.31
21.50
20.88
26.12
22.50
21.09
20.77
20.94
26.07
22.50
19.91
19.75
19.57
27.18
22.76
20.14
20.60
19.27
26.59
22.78
19.81
19.13
19.86
26.93
22.33
19.80
20.26
18.83
27. 54
23.57
20.02
20.20
19.34
28.06
23.19
20.08
19.74
19.94
27.71
23.66
20.73
19.86
21.00
28.13
24.00
20.96
19.91
21.26
24.34
25.08
25.57
26.07
26.04
27.00
26.55
27.27
27.67
27.45
27.86
27.97
27.05
26.43
26.55
27.11
27.08
29.85
27.92
29.96
30.19
30.00
29.56
28.85
24.33
25.28
26.07
26.71
26.69
27.26
27.17
27.63
28.09
27.57
28.11
28.42
27.05
28.13
28.00
28.01
28.35
29.73
29.21
30.50
30.92
30.94
30.95
30.57
23.99
22.11
22.93
24.87
21.20
24.14
25.02
22.21
25.14
25.54
22.53
26.06
25.51
22.40
25.70
26.48
22.62
25.81
26.11
22.15
24.85
26.69
21.15
25.48
27.02
21.14
25.60
26.70
21.19
24.90
27.23
21.73
25.38
27.71
21.63
25.52
24.74
21.90
18.83
22.15
29.43
29.56
20.83
28.48
29.40
27.38
34.60
22.68
24.53
25.79
28.63
18.51
17.48
27.10
23.37
24.84
28.43
15.67
15.72
15.50
17.18
25.63
22.77
19.56
23.95
31.22
32.33
21.25
29.02
30.39
27.39
35.25
24.16
23.18
25.33
27.93
19.80
18.85
27.48
24.26
25.39
28.73
16.87
16.56
17.68
16.89
26.32
23.00
19.77
24.13
32.64
33.81
21.33
28.36
29.90
27.70
34.58
24.02
23.43
25.86
28.66
18.98
17.87
27.91
23.92
26.91
31.27
17.03
16.43
18.68
16.96
27.28
23.96
20.37
25.47
33.88
34.98
21.35
28.41
30.88
27.83
34.45
23.63
24.11
25.30
28.51
18.32
16.97
28.14
24.85
27.27
31. 25
17.00
16.65
18.01
16.84
27.14
23.82
19.46
25.68
33.64
34.89
20.85
28.26
30.22
27.34
34.86
23.74
24.22
25.21
27.54
17.22
15.41
27.58
23.78
27.58
32.77
16.35
16.35
16.35
16.55
26.92
24.03
20.06
25. 76
32.72
33.22
21.53
28.52
30.72
27.80
35.30
23.80
24.75
25.26
27.69
18.62
17.11
28.61
23.85
28.40
33.76
17.00
16.82
17.61
16.92
25.79
22.98
19.65
24.72
31.32
31.55
21.28
28.63
30.63
27.34
35.75
24.22
24.96
25.47
28.05
19.71
18.54
27.80
23.82
27.72
32.59
16.75
16.55
17.38
15.59
26.42
23.43
19.47
25.04
30.69
30.80
21.49
28.55
30.89
27.84
35.23
24.15
24.83
25.40
26.98
20.19
19.13
27.89
24.16
27.28
31.68
17.35
16.81
19.03
15.19
26.98
23.72
19.59
25.30
30.81
30.87
21.60
28.36
31.08
28.30
35.20
24.24
25.00
25.52
27.32
20.12
19.17
28.37
24.43
27.40
32.54
17.38
16.56
19.91
16.22
26.43
22.96
19.46
23.37
r 31. 80
32.33
20.92
27.90
r 30. 66
28.24
34.39
23.64
24.57
25.11
27.23
18.73
17.58
28.08
24.11
27.00
31.48
16.36
15.86
17.84
16.08
27.18
23.48
27.32
23.94
21.25
24.86
32.31
32.75
21.31
29.48
31.07
28.62
34.87
24.61
25.13
25.96
28.25
18.85
17.44
28.04
24.13
27.88
33.06
16.49
16.18
17.46
17.19
.714
.714
.714
.713
.713
.713
.715
.717
.720
.629
.702
.632
.708
.637
.710
.645
.724
.648
.726
.651
.729
.649
.726
.651
.727
.648
.726
.649
.724
.648
.724
43.4
WAGES
Factory average weekly earnings:
National Industrial Conference Board (25
industries)
dollars..
26.76
U. S. Department of Labor (87 industries)!
dollars..
Durable goods
do...
Iron and steel and their products, not including machinery
dollars..
Blast furnaces, steel works, and rolling
mills
dollars..
Hardware.do...
Structural and ornamental metalwork
dollars..
Tin cans and other tinware
do—
Lumber and allied products
do
Furniture
do—
Lumber, sawmills
do—
Machinery, not including transportation
equipment
dollars..
Agricultural implements (including
tractors)
dollars...
Electrical machinery, apparatus, and
supplies
dollars..
Engines, turbines, water wheels, and
windmills
dollars..
Foundry and machine-shop products
dollars..
Radios and phonographs
do—
Metals, nonferrous, and products..do
Brass, bronze, and copper products
dollars..
Stone, clay, and glass products
do....
Brick, tile, and terra cotta_
do
Glass
do...
Transportation equipment
do
Automobiles
do...
Nondurable goods
..do...
Chemicals and petroleum refining.do...
Chemicals
do...
Paints and varnishes
do...
Petroleum refining
..do...
Rayon and allied products.
do
Food and kindred products
do...
Baking
do
Slaughtering and meat packing._do__.
Leather and its manufactures
do...
Boots and shoes...
do
Paper and printing
..do...
Paper and pulp
do
Rubber products
do...
Rubber tires and inner tubes
do...
Textiles and their products
do...
Fabrics
do
Wearing apparel
do
Tobacco manufactures
do...
Factory average hourly earnings:
National Industrial Conference Board (25
.722
industries)
dollars..
U. S. Department of Labor (87 industries) t
dollars.
Durable goods
do-..
Iron and steel and their products, not including machinery
dollars.
Blast furnaces, steel works, and rolling
mills
dollarsHardware
do...
Structural and ornamental metal work
dollars..
Tin cans and other tinware.
do...
Lumber and allied products
do...
Furniture.
.do.
Lumber, sawmills.
do.
' Revised.
tRevised series. See note marked with "t" on p. 29.
.713
.635
.704
19.91
24.15
31.04
31.18
' 21. 11
28.81
31.00
29.12
35.10
23.70
' 25.48
' 25. 91
28.39
17.43
15.93
28.22
24.25
26.81
31.46
' 16. 35
' 16. 01
17.43
16.60
.753
.753
.753
.753
.757
.757
.757
.754
.752
.753
.753
.757
.840
.652
.835
.657
.839
.839
.680
.842
.689
.842
.667
.835
.660
.835
.651
.835
.655
.835
.655
'.835
.651
.842
.655
.728
.589
.511
.522
.502
.731
.597
.523
.522
.519
.726
.599
.526
.524
.525
.720
.606
.520
.518
.520
.725
.607
.533
.524
.537
.727
.608
.532
.526
.533
.731
.613
.541
.521
.550
.729
.610
.525
.523
.523
.731
.608
.533
.527
.533
.731
.611
.539
.532
.542
.727
'.609
.543
.530
.552
.721
.609
.543
.527
.552
29
SURVEY OF CURRENT BUSINESS
September 1939
Monthly statistics through December 1937, together with explanatory notes and references
to the sources of the data may be found in the
1938 Supplement to the Survey
1939
July
1939
1938
July
August
September
DecemOctober November
ber
January
February
March
April
June
May
EMPLOYMENT CONDITIONS AND WAGES—Continued
WAGES—Continued
Factory average hourly earnings—Continued:
U. S. Dept. of Labor (87 industries)!—Contd.
Durable goods—Continued:
Machinery, not including transportation
equipment
dollars..
Agricultural implements (including
tractors)
dollars..
Electrical machinery, apparatus, and
supplies-—
dollars.
Engines, turbines, water wheels, and
windmills
dollars.
Foundry and machine-shop products
dollars..
Radios and phonographs
do
Metals, nonferrous, and products__do
Brass, bronze, and copper products
dollars..
Stone, clay, and glass products
do
Brick, tile, and terra cotta
do
Glass
do
Transportation equipment
do
Automobiles
do
Nondurable goods
do
Chemicals and petroleum refining..do
Chemicals
do
Paints and varnishes
do
Petroleum refining
do___
Rayon and allied products
do...
Food and kindred products
do _ _ _
Baking
do_._
Slaughtering and moat packing_..do.. _
Leather and its manufactures
do
Boots and shoes
do
Paper and printing
do
Paper and pulp
do
Rubber products
do
Rubber tires and inner tubes
do
Textiles and their products
do
Fabrics
do
Wearing apparel
do .
Tobacco manufactures
do
Factory average weekly earnings, by 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..
Wisconsinf
1925-27=100.
Miscellaneous wage data:
Construction wage rates (E. N . R.):§
Common labor
dol. per hour.
Skilled labor
do...
Farm wages without board (quarterly) f
dol. per month..
Railway wages (average, class I)
dol. per hour
Road-building wages, common labor:
United States, average
dol. per hour
East North Central
do...
East South Central
do_.
Middle Atlantic
do..
Mountain
do...
New England
do__.
Pacific
___do__
South Atlantic
do_.
West North Central
do...
West South Central
do..
0.724
0.720
0.721
0.717
0.720
0. 721
0.724
0.725
' 0. 727
0.725
0.725
.781
.768
.771
.777
.794
.803
.794
.804
.803
.795
.787
.780
742
.738
.737
.732
.730
.736
.744
.743
.745
.742
.744
.744
.785
.787
.788
.785
.786
.793
.788
.787
.788
' .792
.787
.782
.710
.610
.709
.595
.710
.594
.661
.709
.577
.659
.711
.582
.662
.712
.582
.667
.713
.591
.668
.711
.577
.665
.715
.578
.669
.714
.586
. 669
.710
.589
.672
.716
.583
.670
.713
.632
.516
.707
.897
.933
.577
.744
.781
.699
.984
.638
.576
.610
.686
.524
.501
.765
.613
.758
.946
.492
.462
.539
.458
.709
.640
.526
.716
.878
.906
.579
.736
.775
.694
.976
.639
.598
.609
.685
.530
.506
.764
.613
.756
.944
.486
.459
.531
.456
.710
.645
.531
.722
.906
.932
.580
.744
.776
.695
.979
.641
.612
.611
.685
.533
.508
.762
.612
.756
.952
.478
.460
.510
.462
.707
. 651
.537
.723
.898
.924
.584
.743
.781
.699
.974
.641
.619
.615
.679
.526
.499
.771
.613
.764
.961
.482
.461
.521
.701
.651
.540
.728
.899
.921
.585
.744
.780
.699
.980
.637
.628
.617
.683
.525
.498
.765
.616
.768
.957
.484
.462
.525
.704
.648
.542
.720
.897
.924
.586
.742
.780
.697
.970
.640
.632
.615
.684
.520
.488
.768
.611
.760
.953
.489
.461
.539
.474
.705
.651
.544
.716
.898
.926
.586
.734
.780
.698
.973
.643
.629
.615
.689
.517
.492
.771
.614
. 765
.957
.491
.462
.541
.474
.704
.648
.535
.707
.508
.460
.715
.634
.511
.712
.883
.936
.578
.763
.785
.700
.986
.639
.586
.615
.689
.516
.493
.760
.617
.760
.941
.489
.464
.531
.462
.582
.732
'.777
.697
.973
.647
.627
.613
.694
'.525
'.501
.770
.612
.761
.947
.479
.457
.517
'.474
.708
.646
.534
'.706
.895
.931
.584
.749
.776
.701
• .970
.647
.632
'.617
.689
.520
'. 504
.772
.616
.742
.944
.477
.459
.510
.472
.707
.647
.538
.711
.803
.930
.582
.762
.777
.697
.969
.640
.622
.618
.691
.527
.502
.770
.618
.765
.947
.472
.458
.498
.474
86.8
92.3
95.8
112.1
94.0
97.6
95.8
84.7
86.7
90.4
105.4
89.7
86.7
89.3
78.4
88.7
92.3
105.9
91.4
91.9
93.5
82.5
88.9
93.6
106.9
93.8
92.5
93.5
85.5
90.7
93.5
110.5
92.8
96.0
85.2
90.1
91.5
108.6
90.7
96.7
99.4
92.6
94.3
111.5
93.3
98.8
101.0
89.0
91.3
93.8
110.2
93.0
98.1
97.8
88.3
92.0
95.3
110.8
93.7
100.3
102. 7
89.6
93.9
95.4
112.8
95.9
101.2
102.9
89.8
92. 5
93.4
110.7
93.1
96.9
100.7
92.8
93.5
111.8
92.6
97.5
100.6
'91.4
93.4
94.9
113.0
93.8
101.0
101.4
.684
1.44
.677
1.43
.677
1.43
.677
1.43
.682
1.43
1.43
.682
1.43
1.43
.680
1.43
.680
.144
.683
1.44
.682
1.44
.684
1.44
36.26
37.2S
.726
.714
.727
.725
.735
.735
,740
.750
.726
.732
.720
.719
.42
.62
.28
.49
.55
.44
.66
.27
.46
.37
.43
.62
.28
.49
.55
.44
.66
.27
.47
.39
.42
.59
. 28
.50
.55
.45
.66
.27
.46
.38
.41
.59
.28
.50
.54
.46
.68
.28
.47
.36
.40
.59
.29
.50
.55
.47
.70
.27
.46
.36
.38
.63
.27
.51
.53
.50
.66
.26
.43
.36
.37
.59
.28
. 52
.53
.51
.66
.27
.4?
.35
.35
.60
.28
.56
.51
.48
.67
.27
.41
.38
.35
.60
.27
.57
.54
.50
.65
.27
.40
.37
.39
.62
.30
.54
.55
.57
.67
.28
.42
.37
.40
.60
.28
.51
.55
.52
.63
.28
.45
.37
.41
.63
.29
.51
.56
.49
.65
.28
.45
.37
320
326
325
310
318
.714
.633
.511
.704
.883
.930
.583
.773
.787
.707
.988
.645
.599
.612
.691
.515
.492
.767
.619
.774
.945
.482
36.09
r
35.42
34.92
ALL PUBLIC BELIEF
Total, exclusive of transient care and administrative expense t
mil. of dol..
Obligations incurred for.
Special types of public assistance
do
General relief
do
Subsistence payments certified by the Farm
Security Administration
mil. of dol _
Earnings of persons employed on Federal
work programs
Civilian Conservation Corps.__mil. of doL.
Works Progress Administration:
Operated by W. P. A.f
do....
Operated by other Federal agenciesf. do
National Youth Administration:
Student aid
-do
Work projectsf
do
Other Federal work and construction
projects!
mil. of doL.
299
305
47
37
20
20
151
4
163
5
40
19
165
5
19
21
18
20
20
171
5
172
5
168
5
156
5
150
4
158
' 5
146
6
141
7
134
7
38
39
37
36
46
54
20
35
'a Revised.
Less than $500,000.
^Construction wage rates as of August 1, 1939, common labor $0,685, skilled labor $1.44.
tRevised series. For classification changes, factory weekly and hourly earnings, and hours worked per week, see note marked with a "f" on p. 29 of the July 1939 Survey.
Farm wages revised beginning 1913; data not shown above will appear in a subsequent issue. Data on all public relief revised beginning with January 1933; figures not shown
on p. 29 of the April 1939 Survey will appear in a subsequent issue. Meanwhile, the historical record can be obtained from the Social Security Bulletin for April 1939. The
revised series differ from those previously published in that they include, in addition to earnings of persons certified as in need of relief, the earnings of all other persons employed on work or construction projects financed in whole or in part from Federal funds. Wisconsin weekly earnings revised beginning August 1937; data not shown on
p. 29 of the July 1939 Survey will appear in a subsequent issue.
30
SURVEY OF CURRENT BUSINESS
Monthly statistics through December 1937, together with explanatory notes and references
to the sources of the data may be found in the
1938 Supplement to the Survey
1939
July
September 1939
1938
July
August
September
1939
DecemOctober November
ber
January
February
March
April
248
245
238
0
0
0
0
0
0
0
0
0
0
198
122
76
50
195
191
117
74
54
191
189
118
72
49
192
192
124
68
55
189
191
122
69
53
181
3,178
2,710
1,969
741
98
3,173
2,694
1,960
734
91
3,172
2,683
1,955
728
86
3,160
2,671
1, 948
723
84
3,158
2,658
1,941
718
83
74
66
61
60
60
23
417
June
May
FINANCE
BANKING
Acceptances and com'l paper outstanding:
236
265
258
255
261
270
Bankers' acceptances, total
mil. of dol_.
273
270
Held by Federal Reserve banks:
0
0
0
0
0
0
For own account
do
0
0
(a)
U
(a)
For foreign correspondents
do
0
1
(a)
(a)
(*)
Held by group of accepting banks:
221
204
188
222
212
217
216
223
Total
mil. of dol._
119
133
129
Own bills
do
129
130
124
121
122
09
84
87
92
82
93
98
91
Purchased bills
do
48
47
42
Held by others
do
40
46
51
58
52
194
211
209
212
195
Commercial paper outstanding
do
213
206
187
Agricultural loans outstanding of agencies supervised by the Farm Credit Administration:
3,319
3,290
3,257
3,229
3,185
Grand total
mil. of dol_.
3,148
3,307
3,210
2,795
2,776
2,764
2,751
2,719
2, 647
2,786
2,735
Farm mortgage loans, total
do
2,014
2,009
1,934
2,004
1,998
1,990
1,982
1,973
Federal land banks
do
772
713
782
777
760
767
753
746
Land Bank Commissioner
do
102
100
85
110
116
112
112
105
Loans to cooperatives, total •
do
Banks for cooperatives incl. Central
83
75
76
86
87
80
Bank
mil. of dol..
87
62
Agricultural Marketing Act revolving
26
24
27
28
25
24
25
fund
mil. of dol..
424
420
404
377
366
362
Short-term credit, total
do
363
417
Federal intermediate credit banks, loans
to and discounts for:
Regional agricultural credit corps.,
prod, credit ass'ns, and banks for co190
175
164
189
199
197
167
operatives^
mil. of doL.
168
41
43
43
41
36
35
34
33
Other financing institutions
do
184
181
171
155
148
148
148
Production credit ass'ns
do.
188
14
14
12
12
13
11
11
Regional agr. credit corps
do.
10
127
126
123
119
117
115
116
Emergency prop loans
do.
125
56
56
55
55
55
55
56
Drought relief loans
do_
54
93
92
91
90
89
85
87
Joint Stock Land Banks in liquidation._do
30, 505 28, 270 29, 525
33,235
29, 463
39, 966
32, 393
Bank debits, total (141 cities)
mil. of dol_. 30, 477
13,828 12, 247 13,085
New York City
do..
15,140
12,425
18, 879
14,533
12, 794
16,677 16,023
16,440
18,096
17,039
21,087
17,860
Outside New York City
do..
17, 683
Federal Reserve banks, condition, end of mo.:
14, 573
14,861
15,293
14,285
14,261
15,639
Assets (resources) total
mil. of dol
15,581
17, 348
Reserve bank credit outstanding, total
2,586
2,585
2,600
2,607
2,589
2,584
2,601
mil. of dol._
2,486
1
1
Bills bought
do.
1
1
1
1
1
1
7
7
Bills discounted
do_
5
5
8
2,564
2,564
2,563
2,5647
2,5647
2,5644
2,574
United States securities
do.
2,488
11,026
11,049
Reserves, total
do.
11,295
11,639
11,970
12,166
12,382
14,230
10, 642 10,640
10, 918
11,272
11,613
11, 798
11,948
Gold certificates
do.
13,878
14, 285 14,261
14, 573
14, 861
15, 293
15, 581
15,639
Liabilities, total
do.
17, 348
9,212
9,270
9,406
9,672
9,935
10,088
10,420
Deposits, total
do.
11,952
Member bank reserve balances, total
9,215
8,164
8,179
8,713
8,876
8,724
8,198
mil. of dol.. 10. 507
3,022
2,941
Excess reserves (estimated)
do.
2,869
3,227
3,383
3,205
3,644
4'. 553
4,135
4,253
4,315
4,385
4,452
4,339
4,169
Federal Reserve notes in circulation ..do
4.530
82.4
82.4
82.7
83.2
83.6
83.9
Reserve ratio
percent..
83.7
86.3
Federal Reserve reporting member banks,
condition, Wednesday nearest end of month:
Deposits:
15, 508
15, 766
16,013
16, 048
14, 951
15, 388
15, 986
Demand, adjusted
mil. of doL_ 17,462
5, 243
5,193
5, 210
5,155
5,124
5,183
5,180
5,160
Time
do
5,799
6,219
6,212
6, 061
6, 359
5,927
5, 958
7, 012
Domestic interbank
do
12, 591
12, 395
12. 999
13,081
13,008
13,219
13, 209
14,078
Investments, total 1
do
7,789
8,111
8,132
8,106
8,266
8,173
8, 515
7,655
U. S. Government direct obligations, do
Obligations fully guaranteed by U. S.
1,686
1,682
1,789
1,675
1,732
2,241
1,646
1, 655
Government
mil. of dol.
3. 263
3,220
3,221
3,247
3,094
3,147
3,213
3,322
Other securities 1
do
8,241
8,327
8,233
8,317
8,165
8,270
8,430
8, 166
Loans, total ^
do
Commercial, industrial, and agricultural
3,891
3,892
3,866
3, 886
3,843
3, 767
3,887
3,865
loans 1
mil. of dol..
344
324
339
347
338
328
313
336
Open market paper
do.
To brokers and dealers in securities
712
792
655
602
690
649
728
848
mil. of doL.
Other loans for purchasing or carrying secu572
535
574
579
576
571
560
526
rities
mil. of doL.
1,161
1,164
1,169
1,174
1,161
1,160
1,169
1, 168
Real estate loans
do_.
111
109
118
110
117
115
99
74
Loans to banks
do__
1,515
1,542
1,507
1,502
1,543
1,567
1,516
1,543
Other loans 1
do._
Money and interest rates:
Bank rates to customers:
2.29
2.33
2.29
2.25
2.33
2.27
2.16
In New York City
percent
In eight other northern and eastern cities
3.28
3.41
3.37
3.28
3.26
3.30
3.47
percent..
0)
In twenty-seven southern and western cities
4.06
4.05
4.12
4.12
4.04
4.10
4.07
percent._
0)
Bond yields (Moody's):
3.21
3.22
3.15
3.08
2.89
3.18
3.10
3.01
Aaa
do.
5.36
5.12
4.84
5.63
5.49
5.65
5.23
5.27
Baa
do.
1.00
1.00
1.00
1.00
1.00
1.00
1.00
1.00
Discount rate (N. Y. F. R. Bank)
do
4.00
4.00
4.00
4.00
4.00
4.00
4.00
4.00
Federal land bank loans
do
1.50
2.00
2.00
2.00
2.00
2.00
2.00
2.00
Federal intermediate credit bank loans.. do
Open market rates, N. Y. C*
Me
Ms
Me
Me
Me
Me
Me
Acceptances, prime, bankers
do.
1.00
1.00
1 00
1.00
1.00
1.00
1.00
Call loans, renewal (N. Y. S. E.)
do
1.00
Commercial paper, prime (4-6 months)
5
A-3A
H
percent..
H
\\i
Time loans, 90 days (N. Y. S. E.)
do
VA
m
m
m
. 04
.
08
.05
.
04
.
03
.m
03
Treasury bills, 91 days (yield)
do.
.06
.07
.82
.68
.71
.65
.45
.67
Treasury notes, 3-5 years (yield)
do.
.71
.70
°Less than $500,000.
cfTo avoid duplication, these loans are excluded from the totals.
•Includes a small amount of Federal intermediate credit bank loans (direct) not shown separately.
^See
note
marked
with
a
"f"
on
p.
30
of
the
July
1939
issue.
1
Discontinued by reporting source. New series on somewhat different basis will be substituted when available.
m
24
370
23
389
23
403
23
411
167
34
155
11
116
54
85
27, 581
12,380
15, 201
175
35
168
10
121
54
83
34, 486
16,274
18,211
183
36
178
10
125
54
82
30,143
13,311
16,832
187
38
183
10
125
54
80
31,928
14,165
17, 763
190
40
188
10
125
54
79
33, 988
15,312
18, 676
15,862
16,186
16,766
16, 922
17,172
2,598
1
2,5644
12, 561
12,125
15,862
10,571
2,587
1
4
2,564
12,951
12,553
16,186
10,919
2,595
1
3
2,571
13,476
13,103
16,766
11,376
2,573
1
4
2,564
13,673
13, 326
16, 922
11,535
2,579
1
5
2,551
13, 874
13, 524
17,172
11,701
8,936
3,387
4,353
84.2
9,157
3,559
4,380
84.7
9,900
4,098
4,458
85.1
10,029
4,218
4,477
85.4
10, 018
4, 140
4,511
85.6
15, 965
5,202
6,414
13, 408
8,143
15,991
5,217
6,466
13, 388
8,096
16, 660
5,248
6,627
13, 714
8,341
16,965
5, 235
6, 675
13,554
8,237
17,
5,
6,
13,
8,
2,019
3,246
8,186
2,026
3,266
8,191
2,026
3,347
8,071
2, 055
3,262
8,126
2,148
3,291
8, 089
3,773
313
3,814
305
3,841
302
3,822
308
3,833
303
799
764
648
721
648
523
1,136
92
1,550
531
1,140
94
1,543
539
1,148
60
1,533
539
1,156
59
1,521
220
237
747
862
423
543
1, 161
51
1,550
2.24
0)
0)
3.33
0)
0)
0)
0)
4.09
0)
0)
(0
3.00
5.05
1.00
4.00
1.92
2.99
4.89
1.00
4.00
1.50
3.02
5.15
1.00
4.00
1.50
2.97
5.07
1.00
4. 00
1.50
(0
2.92
4. 91
1.00
4.00
1.50
0)
Me
Me
Me
1.00
1.00
1.00
V2-H
H-H
H-H
.03
.51
.03
.50
11/4
.03
.63
VA
VA
I.'OO
VA
.03
. 42
. 03
.39
Monthly statistics through December 1937, together with explanatory notes and references
to the sources of the data may be found in the
1938 Supplement to the Survey
31
SURVEY OF CURRENT BUSINESS
September 1939
1938
1939
July
July
August
September
1939
DecemOctober November
ber
January
February
March
April
May
June
FINANCE—Continued
BANKING—Continued
Savings deposits:
Savings banks in New York State:
Amount due depositors
mil. of doL
U. S. Postal Savings:
Balance to credit of depositors
do
Balance on deposit in banks
do-_.
5,519
5,329
5,332
5,362
5,363
5,359
5,405
5,417
5,431
5,478
5,463
5,471
5, 514
1,268
57
1,252
101
1,252
1,248
1,250
96
1,250
87
1,252
1,259
83
1,263
81
1,266
1,264
76
1,261
73
1, 262
64
917
26
37
188
3
49
15
6
6
5
14
19
6
40
1
24
574
92
14,150
331
362
6, 702
32
2,368
212
1,017
53
213
773
260
263
1,130
58
323
4,686
2,069
1,038
51
45
210
7
32
24
2
14
7
13
20
6
58
3
24
629
103
14, 761
617
376
5,957
100
2,143
389
295
258
221
291
293
350
991
150
476
5,385
2,426
1,015
34
57
173
8
37
12
2
11
6
12
9
7
41
6
22
629
122
16,382
344
1,128
6,147
91
747
370
76
764
62
256
434
549
2,254
340
204
5,903
2,860
866
33
49
184
6
31
14
8
11
6
18
18
9
33
4
26
528
72
14,341
347
782
5,227
65
1,506
480
696
204
57
261
415
124
981
77
361
6,450
1,535
997
47
43
172
10
38
14
4
8
5
12
16
7
30
7
21
627
108
13,219
575
607
4,110
245
1,031
478
316
81
54
206
604
305
341
106
343
5,251
2,676
984
48
55
196
6
44
13
0
10
10
12
15
7
51
8
20
586
99
12,302
1,158
713
4,434
90
703
909
0
429
92
162
333
270
892
149
405
4,513
1,484
875
37
48
175
11
33
21
3
8
5
11
8
4
44
3
24
527
88
36, 528
1,628
797
6,285
185
1,743
489
156
524
169
704
89
116
540
1,206
364
4,142
23, 676
1,263
54
54
218
7
43
17
9
12
12
17
15
8
41
3
34
802
135
19,122
1,912
615
6,803
81
1,636
387
357
1,090
575
713
267
335
650
26
686
7.731
2,061
963
32
45
177
12
42
18
11
16
4
31
0
19
618
91
12, 788
262
968
4,985
125
1,482
237
306
255
118
255
512
112
1,055
0
528
5,251
1,322
1,123
52
54
210
7
51
20
3
12
7
15
15
8
50
4
18
683
124
17,915
1,113
1,228
7,875
55
3,248
742
755
306
86
302
188
155
1,614
145
279
5,662
2,037
1,140
46
51
219
6
62
18
11
12
9
17
13
1
41
2
27
688
136
17, 492
495
744
8,294
100
1,444
340
1,164
363
1,837
565
666
8
1,024
388
395
5,566
2,393
1,122
44
66
206
6
56
21
1
10
5
9
11
8
60
4
15
670
136
14,757
876
1,158
4,893
109
1, 852
525
100
316
28
281
407
212
813
44
206
5,878
1,952
952
60
50
166
7
40
12
5
13
11
8
12
5
32
4
17
585
91
11,609
509
1,150
4, 468
97
1, 057
215
341
313
199
276
216
79
1,147
45
483
3,849
1,633
22, 209
4,291
672
3,619
1,800
2,665
22, 302
4,313
670
3,643
1,801
2,663
22,413
4,334
674
3,660
1,792
2,663
22, 520
4, 350
674
3,676
1,790
2,659
22,620
4,361
673
3,688
1,790
2,650
22, 729
4,381
670
3,711
1,751
2,636
22,850
4,395
670
3,725
1,743
2,628
22,929
4,403
669
3,734
1,740
2,621
23,018
4,410
667
3,743
1,738
2,611
23,100
4,416
667
3,749
1, 743
2,605
23,199
4,424
666
3, 758
1, 746
2,598
23, 275
4,435
664
3, 771
1, 745
2,585
12, 349
5,560
2,789
2,752
1,248
774
330
12,388
5,507
2,847
2,754
1,280
803
334
12, 553
5,598
2,885
2,754
1,316
732
339
12,658
5,603
2,954
2,752
1,349
727
336
12,629
5,603
2,950
2,726
1,350
821
12,869
5,794
3,004
2,649
1,422
635
457
12,884
5,857
2,957
2,653
1,417
747
453
12,950
5,895
2,974
2,657
1,424
759
456
12,999
5,903
2,995
2,671
1,430
810
450
13, 065
5,952
3,003
2,675
1,435
827
444
13,127
5, 977
3, 007
2, 684
1, 459
858
446
13,358
6, 057
3,139
2, 699
1,463
727
425
720
12
511
197
528,452
18,659
153, 392
356, 401
287,110
66, 779
10,423
56, 737
153,171
712
18
518
176
550,960
33, 443
156, 304
361, 213
245, 298
22,652
10,608
60, 073
151,965
760
16
582
161
519,932
24, 924
173,641
321, 367
237,697
19,366
10,408
60, 695
147, 228
822
24
598
200
592,432
32, 288
179, 553
380, 591
234,120
20,905
9,980
57,253
145,982
865
34
608
223
671, 262
43, 754
182,690
444,818
248,595
28,515
10,001
55, 034
155,045
1,089
71
755
264
974,920
91, 294
226,085
657, 541
355, 603
50,208
12,148
96,493
196, 754
30
357
262
729,937
51,899
99, 363
578,675
277,860
35,905
12.914
65,146
163,895
675
23
399
252
570, 491
40, 365
109,871
420, 255
250, 374
22,491
11, 667
56,981
159, 235
842
33
499
310
645,019
45,205
138, 396
461,418
287, 539
25,817
13, 019
62,960
185, 743
716
20
464
232
550,666
35,981
129, 051
385,634
243,414
19,838
10,450
61, 263
151,863
812
33
496
283
604, 445
43,278
137,073
424, 094
257, 965
22, 809
11,302
59,846
164, 008
841
134
461
245
729,749
]94, 223
128, 568
406, 958
268, 472
25, 496
11,528
61, 255
170,193
532, 089
40, 608
148,804
117,143
53, 372
50,104
21, 059
42, 221
14, 406
44, 372
524, 925
41,314
142, 293
116,689
53,078
51,134
21,811
40,791
14, 935
42,880
93
COMMERCIAL FAILURES!
Grand total
number.
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 leather products
do...
Machinery
do...
Paper, printing, and publishing
do._.
Stone, clay, glass and products
do._.
Textiles
do...
Transportation equipment
do. _ .
Miscellaneous
do...
Retail trade, total
do.__
Wholesale trade, total
do._.
Liabilites: 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 leather products
do._.
Machinery
do
Paper, printing, and publishing
do._.
Stone, clay, glass and products
do.
Textiles
do.
Transportation equipment
do__.
Miscellaneous
do
Retail trade, total
do___
Wholesale trade, total
do
LIFE INSURANCE
(Association of Life Insurance Presidents)
Assets, admitted, total:t
mil. of dol
Mortgage loans, total
do
Farm
do
Other
do
Real estate holdings
do
Policy loans and premium notes
do
Bonds and stocks held (book value) total
mil. of dol.
Government (domestic and foreign) do
Public utility
do....
Railroad
do
Other
do
Cash
do
Other admitted assets
do
Insurance written:©
Policies and certificates, total number
thousands..
Group
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
687
26
427
234
506,380
23, 862
118,218
364, 300
248,077
27,712
10,497
55, 554
154, 314
(Life Insurance Sales Research Bureau)
Insurance written, ordinary, totalf thous. of dol. 462,423 457, 224 470,917 428,482 488,956 570, 648 897,886 729, 766 532,032 577,203 495,
36,030
New England
do
28, 648
35,105
37,
31, 795
30,887
44, 547
58,827
43,632
44,852
65, 390
Middle Atlantic
do..._ 124, 598 118,748 123,610 112,049 139,695 170, 752 279,319 194,457 140,911 159, 747 140,
102,981
East North Central
do
97,453
90, 542 103,323 120,493 187, 742 174,370 122, 242 130,647 109,
99,159
48, 575
49,986
49,
53, 082
45,864
56, 665
76,498
54,148
55, 913
West North Central
do
51, 227
93, 672
42, 233
46, 365
45,
46,830
42, 111
51,957
63,300
48,038
53,050
42,860
79,463
South Atlantic
do
18, 277
18,941
19,
18,834
19,504
23, 548
27,101
20,386
22, 845
17, 586
34,198
East South Central
do
40,218
38,
41,235
36,175
40, 575
53, 202
42, 233
45,997
41, 694
62, 032
West South Central.
do
37, 658
13, 504
13,
14,850
13, 428
14, 934
17,806
13,677
15, 848
13,990
22, 075
Mountain
do
13, 659
41,819
42,
44,136
40,161
47,177
64, 205
46, 765
48, 304
40,165
73, 995
Pacific
do
38, 412
101
Lapse rates
1925-26=100—
fRevised series. D a t a on commercial failures revised beginning J u n e 1934; see table 3, p p . 17-18 of t h e D e c e m b e r 1938 issue. D a t a for insurance w r i t t e n , o r d i n a r y (Life
I n s u r a n c e Sales Research B u r e a u ) include a block of i n t e r m e d i a t e insurance beginning J a n u a r y 1939. Earlier d a t a on a c o m p a r a b l e basis will be shown in a s u b s e q u e n t issue.
J37 companies h a v i n g 82 percent of total assets of all U n i t e d States legal reserve companies.
0 4 0 c o m p a n i e s h a v i n g 82 percent of total life i n s u r a n c e o u t s t a n d i n g in all U n i t e d States legal reserve c o m p a n i e s .
32
Monthly statistics through December 1937, together with explanatory notes and references
to the sources of the data may be found in the
1938 Supplement to the Survey
SUEVEY OF CURRENT BUSINESS
1939
July
September 1939
1938
July
August
September
DecemOctober November
ber
1939
January
February
March
April
May
June
FINANCE—Continued
MONETARY STATISTICS
Foreign exchange rates:
Argentina
dol. per paper peso..
0.312
0.329
0.325
0.314
0.320
0.318
0.311
0.311
0.312
0.312
0.312
0.312
0. 312
Belgium
dol. per belga.
.169
.169
.170
.169
.169
.169
.169
.168
.169
.168
.168
.170
.170
Brazil
dol. per milreis
.059
.058
.061
.059
.059
.058
.059
.059
.059
.059
.059
(2)
.061
British India
dol. per rupee..
.368
.364
.349
.352
.358
.356
.349
.349
.350
.351
.350
.349
.349
Canada
dol. per Canadian doL_
.994
.996
.998
.992
.994
.991
.992
.991
.995
.996
.995
.996
.998
.052
Chile
dol. per peso.
.052
. 052
.052
.052
.052
.052
.052
.052
.052
.052
.052
.052
.028
France...
dol. per franc.
.027
. 026
.026
.027
.027
.026
.026
.026
.026
.026
.026
.026
.402
Germany
dol. per reichsmark..
.401
. 401
.400
.400
.400
.401
.401
.401
.401
.401
.401
.401
.053
.053
.053
.053
Italy
dol. per lira.
.053
.053
.053
.053
.053
.053
.053
.053
.053
.287
.284
.273
.274
Japan
dol. per yen.
.280
.278
.272
.272
.273
.273
.273
.273
.273
.550
.546
.533
.543
Netherlands
dol. per guilder..
.539
.544
.542
.544
.536
.531
.531
.536
.532
.057
.057
.110
.051
Spain
dol. per peseta..
.052
.051
.046
.050
.110
.110
0)
0)
0)
.254
.252
.241
.243
Sweden
dol. per krona..
.248
.246
.240
.241
.241
.241
.241
.241
.241
4.881
4. 681
United Kingdom
dol. per £
4.929
4.804
4.708
4.768
4. 670
4.669
4.686
4.685
4.681
4.681
4.682
.642
.616
Uruguay
dol. per peso..
.649
.632
.620
.627
.615
.614
.616
.617
.616
.616
.616
Gold:
12,985
13,057
13, 441
14,162
13,940
14,416
Monetary stock, U. S
mil. of dol.. 16,182
14, 599
14, 778
15,014
15,509
15, 878
16, 028
Movement, foreign:
Net release from earmark^
thous. of doL. -166, 212 -20,942 - 2 8 , 785 -13,255 -110,177 - 7 , 375 -62,387
14,106 - 4 8 , 553
10,720 -114,842 -251, 579 -102, 596
17
65
11
16
14
Exports
do.
16
9
81
15
53
231
19
36
63,880 165,990 520, 907 562, 382 177,782 240, 542 156,427 223, 296 365, 436 606,027 429, 440 240, 450
Imports
do.
278, 645
\
Production:
1,034,928 1,046,338 1,035,341 1,041,394 1,024,057 1.028,774 1,033,939 985,843 1,073,084 1,017,508 1,084,859
Union of South Africa, total
fine ounces..
952, 995 962, 757 952, 602 960, 561 944,035 946, 895 953, 916 910, 084 989, 974 938, 961 1,000,181
Witwatersrand (Rand)
do
Receipts at mint, domestic (unrefined).-do
281, 317 305, 487 286. 493 301, 593 277, 500 333, 027 235, 337 233,806 195, 780 209, 778 227, 642 219,161 201,111
6,482
6,464
Currency in circulation, total
mil. of dol_.
6,570
6,750
6,712
6,888
6,764
7,051
6,697
6,867
6, 919
6,966
Silver:
401
193
1,463
1,259
823
1,344
Exports §
thous. of dol
1,671
2,054
1,923
640
2,054
611
303
4,9S5
24,098
25, 072
24,987
18, 326
21, 533
10, 328
9,927
Imports..
do..
7,207
5, 531
7,143
6,152
14, 770
.428
.428
.428
.428
.428
.428
.428
Price at New York
dol. per fine oz._
.428
.428
.349
.428
.428
.420
25, 619
20, 064
20,154
16,159
24, 071
19,511
19,108
Production, world
thous. of fine oz.
21, 822
20,070
17, 469
2,528
2,202
2,400
2,023
1,552
1,575
Canada
do._.
2,112
1,454
1,637
1,411
1,559
1,766
9,224
4,486
4,160
2,781
4,922
4,281
Mexico
do...
9,019
6,794
4,906
2,515
5,596
5,073
5,441
2,879
4,624
4,669
United States
do...
5, 268
4,530
5,067
5,336
3,761' "5," 493
Stocks, refinery, end of month:
7,887
6,396
6,824
4,492
7,843
2,409
4,075
4,806
7,432
United States
do...
8,669
9,903
4,935
633
611
355
676
652
615
Canada
do...
255
488
552
167
316
CORPORATION PROFITS
(Quarterly)
Federal Reserve Bank of New York:
Industrial corporations, total (167 cos.)
mil. of dol..
61.8
187.0
153.3
Autos, parts, and accessories (28 cos.).do
<*6.2
78.4
69.5
.1
24.2
Chemicals (13 cos.)
do
31.7
20.4
Food and beverages (19 cos.)
do
19.9
15.8
Machinery and machine manufacturing
4.1
5.6
(17 cos.)
mil. of doL.
6.2
1.5
4.1
Metals and mining (12 cos.)
do
2.1
10.7
4.7
Petroleum (12 cos.)
do
4.5
d
7. 3
10.3
Steel (11 cos.)
do
6.2
14.9
25.4
Miscellaneous (55 cos.)
do
17.3
50.5
56.5
Telephones (91 cos.) (net op. income)
do
56.4
Other public utilities (net income) (52 cos.)
mil. of dol_54.5
Interstate Commerce Commission:
d
3.4
Railways, class I (net income)
do
43. 6
Standard Statistics Co., Inc. (earnings):
38.5
76.7
60.4
Combined index, unadjusted*!
1926=100..
p 61.2
69.3
34.4
65.0
v 68.7
Industrials (119 cos.)
2.0
31.9
* 25.4
*>d 29. 3
Railroads (class l ) 0 t
90.7
123.0
124.7
v 116.1
Utilities (13 cos.)
76.
38.4
62.4
P56. 5
Combined index, adjusted*t
79.0
32.2
68.7
» 60.7
Industrials (119 cos.)
29.2
1.5
* 19.8
P d 24. 6
Railroads (class l ) * t
113.2
104.8
113.4
v 118.5
Utilities (13cos.)
do
PUBLIC FINANCE (FEDERAL)
39,439
37, 596
38, 395
38, 426
38,607
39, 641
39,864
39, 990 • 40,068
40, 282
Debt, gross, end of mo
mil. of dol.. 40, 661 37,194
40, 440
Public issues:
34,112
35, 755
34, 920
34, 950
34,981
35, 994
33,834
35,892
35, 949
36,038
36,085
36,116
Interest bearing*
do
36,196
535
543
541
543
538
531
549
534
533
554
Noninterest bearing*
do
528
526
548
Special issues to gov't agencies and trust
2,949
2,943
3,090
3,492
2,933
3,156
3,382
3,454
3,215
3,770
2,810
funds*
mil. of dol - _ 3,918
Obligations fully guaranteed by the U . S . Government :c?
Amount outstanding by agencies, total.
5,009
4,992
5,480
5,015
5,001
4,993
4,987
5,410
5,450
5,410
5,410
5,409
5,064
mil. of doL.
1,404
1,388
1,410
1,388
1,381
1,380
1,379
1,379
1,395
1,383
1,381
1,379
1,410
Federal Farm Mortgage Corporation-do
2,888
2,888
2,888
2,888
2,888
2,888
2, 888
2,888
2,888
Home Owners' Loan Corporation
do
2,937
2,888
2,928
2,958
511
819
511
509
819
819
511
511
509
820
Reconstruction Finance Corporation.do
820
510
820
Expenditures, total, including recovery and
relieff
thous. of dol__ 807, 325 762, 697 682,823 764, 509 770,311 678, 588 870, 278 693, 385 662,464 879, 300 786, 517 744, 899 972, 569
639 232 622,146 622, 580 696,115 716,036 622,500 809, 351 649, 573 601, 971 796,139 722.342 686,824 886,856
General (including recovery and relief)* t d o
' 4,685
r 9,003
' 6, 842
' 3, 742
7,992
7,451
5,308
12,743
10,249
5,599
' 856
10,365
8,474
Revolving funds, net*
do
44, 500
43, 500
48, 500
48, 500
68,000
38,500
55,000
50, 094
56, 004
47, 500
50,000
Transfers to trust accounts*
do
167,103 135,107
1,772
745
9,562
8,685
626
1,182
530
21, 235
0
13, 645
127
137
134
Debt retirements*
do
307, 846 311,092 487,487 710,603 331, 965 381,644 704,494 308,152 417,349 737,391 268.343 396, 781 612, 522
Receipts, totalf
do
27,338
29, 266
30, 797
28,673
25,121
24, 318
22, 361
29,437
24, 517
23,101
28, 590
25, 318
25, 528
Customs
do
300.091 350,426 362, 286 682, 544 315,061 304,572 662, 252 315,845 333,518 691,401 279,987 315, 037 568, 646
Internal revenue
do
33, 978 487,132
41,078
35, 912 473, 804
56,872 495,906
38,832
43, 533 351, 958
43,230
41,606
50,764
Income taxes
do
85. 736
81, 508
81,979
2,939
125,870
69, 684
93, 044
16, 252
72, 754
77, 707
2,864
3,855
Social security taxes*
do
r
d
Revised.
Deficit.
*
>
Preliminary.
^Or
increase
in
earmarked
gold
(—).
•Number
of
companies
included
varies
slightly.
1
2
Quotations not available January 25-May 14, 1939.
Quotations not reported April 10, 1939, through June 8, 1939.
*New series. New items for Federal gross debt beginning June 1916 appear in table 21, p. 16, and for Federal expenditures beginning July 1931 in table 22, p . 17, of the
April 1939 Survey. Data on receipts from social security taxes beginning June 1936 will appear in a subsequent issue.
fRevised series. The Standard Statistics Co. index of railroad earnings and the combined index have been revised beginning 1932; see table 25, p. 18, of the April 1939
Survey. Total Federal expenditures and receipts revised beginning July 1931; see tables 22 and 23, p. 17, of the April 1939 Survey.
§Revised series. Data revised for 1937, see table 19, p. 14 of the April 1939 Survey.
cfTotal includes $206,174,000 in guaranteed debentures of the Commodity Credit Corporation beginning with May 1938. Also included is a small amount of guaranteed
debentures of the Federal Housing Administrator, and in Feb. 1939, $114,146,000 for the U. S. Housing Authority which amount was increased to $114,157,000 beginning with
Mar. 1939.
{"General" and "recovery" relief not reported separately by Treasury Department after June 1939.
September 1939
Monthly statistics through December 1937, 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
1939
July
1938
September
July
1939
DecemOctober November
ber
January
February
March
April
May
June
FINANCE—Continued
PUBLIC FINANCE (FEDERAL)-Con'd.
Beceipts, total—Continued.
Internal revenue—Continued.
Taxes from:
Admissions to theaters, etc.-thous. of doL.
1,534
1,619
1,425
813
Capital stock transfers, etc
do
1,429
2,052
292
Sales of radio sets, etc
do
305
400
Government corporations and credit agencies:f
Assets, other than interagency, total
mil. of doL.
11,317
11,365
Loans and preferred stock, total
do
8,476
8,452
Loans to financial institutions find, preferred stock)
mil. of dol—
1,357
1,333
Loans to railroads
do
475
491
Home and housing mortgage loans_.do
2,346
2,340
Farm mortgage and other agricultural
loans
mil. of dol—
3,466
3,491
All other
do
807
821
U. S. obligations direct and fully guaranteed
mil. of dol—
834
837
Business property
do
432
438
Property held for sale
do
670
666
All other assets
do
979
901
Liabilities, other than interagency, total, do
7,129
7,229
Bonds, notes, and debentures:
Guaranteed by the U. S
do
5,064
5,001
Other
do.—
1,378
1,372
Other liabilities inch reserves
do
786
755
Privately owned interests
do
372
374
Proprietary interests of the U.S. Government
mil. of dol-.
3,764
3,815
Reconstruction Finance Corporation, loans outstanding, end of month:f
Grand total
thous. of dol__ 1,775,788 1,671,455 1,689,212
678, 491 647, 034 652, 527
Section 5 as amended, total
do
Banks and trust companies, including
receivers
thous. of dol— 103,857
132, 072 129, 706
3,263
Building and loan associations
do
2,218
2,194
2,799
Insurance companies
do
3,526
3,510
126,126
Mortgage loan companies
do
100, 232 96, 287
438, 863
Railroads, incl. receivers
do
398,304 414, <
All other under Section 5
do
5,901
10, 681
3,583
Emergency Relief and Construction Act,
total, as amended
thous. of dol—
186,1
198,309
Self-liquidating projects (including financ- 62,164
ing repairs)
thous. of dol—
185,893 187, 365
40,119
Financing of exports of agricultural surpluses
thous. of dol—
47
10,047
21,290
Finaneing of agricultural commodities
and livestock
thous. of dol__
755
Direct loans to business (incl. participations)
thous. of doL81,016 85,024
121,
804
Total Bank Conservation Act, as amended
thous. of dol-. 578, 431 554, 686 552, 407
83, 359
79,511 79,376
Drainage, levee, irrigation, etc.*
do
251,539
122, 370 121, 569
Other loans
. _ do
CAPITAL FLOTATIONS
1,669
1,021
345
1,596
1,188
466
1,985
2, 226
568
2,020
1, 754
593
1,564
1, 650
57"
1, 503
1,394
404
1,607
1,083
353
11,319
8,496
11,359
8,507
1, 327
11,335
8,502
11,451
8,562
11,515
8,527
11, 650
8, 509
11, 696
8,523
1,321
503
2,326
1,344
511
2,335
1, 314
512
2,329
1,291
508
2,327
1,278
505
2, 324
3,486
865
3,486
886
3,469
902
3, 460
923
3,456
960
3,459
913
3,447
941
892
845
452
679
856
7,016
855
456
689
889
7,048
868
460
698
961
7,117
874
465
708
1,095
7,588
885
468
712
1,108
7,592
849
472
712
1,157
7, 592
850
476
713
1,151
7,581
853
481
708
1,199
7, 651
495
2,335
3,499
837
••502
2,330
1, 606
1,273
279
1,491
735
258
11, 688 11, 703
8,497 8,511
1,292
1,297
509
501
2,323 2,325
11, 706
8,465
1,385
1,259
287
1,311
493
2,331
843
447
667
866
7,112
3, 494
854
844
451
673
883
7,075
5,010
1,365
737
377
5,001
1,352
722
379
1,323
700
382
4,992
1,317
739
381
4,987
1,327
757
383
5, 410
1,369
809
384
5,410
1,374
808
386
5,410
1,379
803
387
5,410
1,382
790
389
5,471
1,389
791
387
3,830
3,905
3,936
4,022
4,015
3,678
3,718
3,709
3,732
3,668
1,707,018 1,735,100 1,750,088 1,808, 504 1,770,930 1,766,111 1, 782,3881, 722, 5071,727,285
661, 586 679,078 689,533 708, 484 666,999 664,107 674, 555 683, 218 677, 468
126, 884 124, 427 120,778 118, 067 116,120 113, 873 111,044 108,834
127,
1,921
2, 962 3, 037
2,093
1, 962
2,029
1, 959
1,908
2,126
2, 915
2,871
3,459
2,901
2,964
2,854
3,008
2,992
3,481
103, 204 114, 741 126, 416 140, 644 100,280 101,216 110,587 117,326 121,075
419, 364 426, 046 428, 041 436, 094 437, 789 436,139 439,560 443, 840 436, 612
5,175 5,056
5,673
5,611
5,797
5,855
6,067
5,940
5,943
204,811 131, 389 134, 496
205,848
201, 604 207,948 205, 598
199,691 205,913
181,028 107, 578 108, 995
190,105
180,862 182,149 181,814
188, 748 190,152
23, 047 23, 047 24, 737
15, 047
20, 047 25, 047 23,047
10, 047 15, 047
764
737
764
738
715
752
896
112,048 112, 531 114,498
103, 287 107, 412
109,039 110,432
91, 634 97,945
549,484 547, 462 585,106 579,388 576,023 576,117 579, 774 580, 238
551, 269 79,663 80,834 80,991
82, 276 82, 461 82, 757 82, 966 83, 084
79, 584 123, 017 123,124 124,907 125, 280 127,489 132,100 132, 629 137, 476
123, 254
1,752,928
679, 278
104, 872
3,328
2, 832
125,372
439,199
3,675
63, 708
39,464
23,480
764
117, 079
580,887
83,109
228, 867
New Security Registrationsi
(Securities and Exchange Commission)
New securities effectively registered under the
Securities Act of 1933, total.... thous. of dol 232, 712 223, 897 394, 433 125, 207 411, 878 303, 280 144, 62 139,672
21, 676 86,286 307, 754 57, 062 275, 409
Estimated gross proceeds (total registration,
less securities reserved for conversion),
total
thous. of dol~ 227, 545 222, 595 315, 968 106, 767 405, 063 249,9
°140, 709 139,075
21, 366 69,242 277, 657 55, 588 271, 720
Type of security:
Common stock
do
47,438 20, 473 r 29, 307
16,385
9, 645 12,393
14, 423 51,526
23,124
5, 927
19, 443 26, 477 20,932
Preferred stock
do
48, 305
1,741
27, 900 22, 260 12, 675
2, 70:
18, 566 38, 762
4, 557
7, 697 4, 438 21,441
2, 962
10, 759
3. 875
4, 008
1, 766 3, 406 10, 586
Certificates of participation, etc. . 1 " do
8, 179 10,354
12, 968 22, 573
18. 431 23, 038
51,510
9, 449 144, 872
39, 675
5,139
28,
488
116.991
Secured bonds
do
900
57,
413
350
267,
093
46,
865
169,262
64,181
0
74, 279
0
22,613
83, 562
Debentures and short-term notes..—I"dol... 112,421
16, 061 70,913
84, 500 97, 240 54, 750 110, 930 119,804
Type of registrant:
12, 289
234
0
342
702
280
523
Extractive industries
do
377
4,548
8,281
0
6, 341
417
35, 76o 146, 450 3, 779 93, 097
Manufacturing industries
do
7, 2001 6,821
11,096
38, 319 59, 681 57, 226 31,981
88, 942 117,69,?
6,271 17, 024 21, 941
4,758
Financial and investment
l"lldo'."-~— 24,162
22, 3901
68,253 29,956 39,944 70, 787 42, 528 36,639
6. 060
3,921
250
5,305
Transportation and communications do
0
0
0
0
4,239
29,978
0
0
28, 834
1,827
Electric light and power, gas, and water
5, 090 27,506 117,712 31, 605 124,971
3, 255 243, 412
0 275,173 103, 219 82, 280 108,512
thous. of dol— 82, 914
15, 500
935
1,577 2,696
969
2,414
450
1,500
1, 992
800
63, 475
3,415
3,864
Other___
do
Securities not presently intended to be offered
for cash sale for account of registrants:
Registered for account of others
4,862
11, 525 3,777 13, 549
3,135
971
5,992
310
4,278
1,673
7,334
10, 215
thous. of dol.. 1,999
Registered for options and for other subse3,192
219
2,086
170
420
56
280
2,288 23,114
0
0
23,931
quent issuance
thous. of dol. .
Other securities not intended for cash
2,068
1,930 28,379 20, 365
3,615
37,178
13
5
169
45,311
204
sale
thous. of dol—
Selling and distributing expenses:
6,678
4,679 2,128
2,767
1,190
7, 761
4,387
4,013
5,006
6,675
5,412
8,293
6,287
Commissions and discounts thous. of dol
Other selling and distributing expenses
1,621
1,443
235
215
627
904J
1,051
942
2,088
881
681
2,016
1,180
thous. of doLr Revised.
« The total includes $12,576,000 of face amount installment certificates.
•[Series differ from current presentation of the Securities and Exchange Commission, due to a reclassification of certain items, bur data as shown on p. 33 of the August
1939 Survey are comparable throughout. When earlier data are available on the new basis, they will be presented in the Survey.
*New series. Data for drainage, levee, irrigation, and similar districts, beginning December 1933 not shown above will appear in a subsequent issue of the Survey; this
series was formerly included with "Other loans."
fRevised series. Data on Government corporations and credit agencies have been revised beginning June 1937 due to changes in the underlying U. S. Treasury Department compilations and are not comparable with the series shown in the 1938 Supplement. Several new series on loans and other assets have been brought out, but no changes
have been made in the series on liabilities. Data not shown on p. 33 of the November 1938 Survey will appear in a subsequent issue. For Reconstruction Finance Corpora*
tion loans outstanding, minor revisions beginning August 1934 will appear in a subsequent issue.
http://fraser.stlouisfed.org/
Federal Reserve Bank of St. Louis
34
SURVEY OF CURRENT BUSINESS
Monthly statistics through December 1937, to- 1939
gether with explanatory notes and references
to the sources of the data may be found in the July
1938 Supplement to the Survey
1938
SepDecemAugust tember October November
ber
July
September 1939
1939
January
February
March
April
May
June
FINANCE—Continued
CAPITAL FLOTATIONS—Cont'd
New Security Registrations—Cont'd.l
(Securities and Exchange Commission)
Estimated gross proceeds (total registrations
less securities reserved for conversion)—Con.
Estimated cash proceeds to be used for:
Total
thous. of dol.. 182,
Organization development
do
Purchase of:
Plant and equipment*
do
10,
Other assets
do
Securities for investment
do
Securities for affiliation
do
Increase of working capital
do
Ketirement of preferred stock
do
Repayment of bonds and notes
do
Repayment of other indebtedness. _do
Miscellaneous
do
211,172 279, 808
65
26
108,238 42,330
8
0
62,979 27, 241
0
40
5,503
5,029
13,819
25,053
1, 505 175,812
7,860 15, 436
0
37
94, 257 347, 770 211,052
90
490
858
50,306
10,139 38,017
667
0
0
31,654
21, 745 38,375
0
798
123
8,716
2,997
5,625
447
18,168
0
180 270, 494 88,743
5,012
36
36,139
23,060
200
0
14,956
202
229, 546
190
3,453
13
2,416
0
4,239
0
3,303
1,331
2
1,936
24
3,629
0
70, 605
1,034
147,471
4,629
28
244, 611
857
7,469
213
32
92
15,278 11,756
194
46
r 3, 643 22, 824
100
239
8,641 187,648
5,047
561
r
8,684
126
529,182 277,339 540,723 239,929 355,941
241,001 220,531 377, 550 162,272 142, 621
241,001 200, 531 377, 550 162, 272 142,171
59, 544
5,827 23, 571 52,979
77,060
,312,257 604, 380
116,873 292,576
116,873 283, 326
30, 241
21,240
125, 424 131,022
291
1,920
10,142
180
27, 669
0
8,400
10,494
64, 567
2,036
16
1,915
0
20,399
0
1,675
35, 523
69,058
r 2, 161
0
36,
28,865
25
Securities Issued
(Commercial and Financial Chronicle)]
Securities issued, by type of security, total (new
capital and refunding)
thous. of dol_.
New capital, total
do
Domestic, total
do
Corporate, total
do
Bonds and notes:
Long term
...do
Short term
do
Preferred stocks
_do
Common stocks
do
Farm loan and other government agencies
thous. of doL.
Municipal, States, etc
do.
Foreign, total
do.
Corporate
do.
Government
do.
United States possessions
do.
Refunding, total
do
Domestic, total
do.
Corporate, totaL._
.do.
Bonds and notes:
Long term
do.
Short term
do.
Preferred stocks
do.
Common stocks
do.
Farm loan and other Government agencies
thous. of dol.
Municipal, States, etc
do
Foreign, total
do
Corporate
do
Government
do
"United States possessions
do
Securities issued by type of corporate borrower,
total
thous. of dol._
New capital, total
do
Industrial
do
Investment trusts, trading, and holding
companies, etc
thous. of dol_.
Land, buildings, etc
do
Public utilities
do
Railroads
do
Shipping and miscellaneous
do
Refunding, total
do
Industrial
do
Investment trusts, trading, and holding
companies, etc
thous. of doll
Land, buildings, etc
do
Public utilities
do....
Railroads
_do__.
Shipping and miscellaneous
do
(Bond Buyer)
State and municipal issues:
Permanent (long term)
....thous. of doL.
Temporary (short term)
.
-do__.
COMMODITY MARKETS
Volume of trading in grain futures:
Wheat
mil. of bu,_
Corn
do...
SECURITY MARKETS
Brokers' Balances (N. Y. S. E. members
carrying margin accounts)
585,732
317,525
317,525
49, 464
238, 368 766,188 395,808
146,033 166,908 220,893
146, 033 166, 908 195,893
84, 937 63,922
43,521
469, 697
390,633
390,133
130, 276
417.936
182,286
181,836
127,014
40, 290 127,826
0
600
4,908
0
4,266
1,850
123,304
0
3,143
567
83,099
0
820
1,018
61, 484
300
1, 950
188
37,385
40
1,344
4,753
202, 553 216,450
65, 508 43, 407
0
500
0
0
0
0
0
500
268, 207 79.064
268, 207 79,064
176, 523 55, 545
0
54,822
450
0
0
450
235, 650
235, 650
211,141
8,400
52, 696
0
0
0
0
92, 335
92, 335
65,136
0
102,986
0
0
0
0
599,280
599, 280
274, 237
0
152,373
25,000
0
25,000
0
174,914
134,914
107,702
128, 365
9,000
39,158
0
55, 545
0
0
0
211,141
0
0
0
64, 956 273, 706
0
0
0
180
531
0
85, 266 239,520
0
4,000
18,436
10,974
0
0
74, 050
17, 634
0
0
0
0
20, 250
3,269
0
0
0
0
13, 500
11, 009
0
0
0
0
5, 600 322, 862
2,181
21, 599
0
0
0
0
0
0
0
0
21, 700
5,513
40,000
0
40, 000
0
2,300
2,600
0
927
16, 722
0
1,278
5,571
55,000 118,146
126,457 76, 557
20,000
0
0
0
20,000
0
0
0
288,181
56,809
285, 556 56,809
250,493
10,386
310,090
43,890
0
0
0
0
163,173
163,173
136,115
43,995
0
11, 752
3,798
46, 533
0
1,020
29, 507
17,928
0
1,970
1,092
21,128
450
5,579
3,084
4,325
1,950
104,968
63,161
0
450
0
0
0
0
0
450
77,658 213, 320
74, 658 160,820
0
253,085
9,250
0
9,250
0
311,804
311,804
251, 798
42,809
0
'936
r 9, 234
129,249
1,550
94, 083
0
0
0
0
,195,383
,179,633
151,002
5,200
5,000
0
186
101, 286
0
34,829
0
46,366
0
200
123
105,913
0
23,336
0
126,102
4,500
20,400
0
249,463
0
2,336
0
20, 250
14, 813
2,625
0
0
2,625
19, 250
27,172
0
0
0
0
17,050
10,008
0
0
0
0
15,023
12, 946
3,000
0
3,000
0
20, 750
10, 820
52, 500
52,500
0
0
,021,414
7,217
15,750
10,500
5,250
0
20,950
39,055
0
0
0
0
225, 987 185, 821 338,155 150,073 338,159 151, 223 310,038
49, 464 130, 276 127,014 84, 937 63, 922 43. 521 59,544
9,864 120,365 69, 550 80, 838 40, 561 18, 284 48, 801
0
0
0
0
0
3.000
100
1,186
240
394
1,420
1,350
107
747
25, 892
21,2S5
49,965
6,461
2,612 20,441
9, 704
12, 435
0
3,148
0
0
0
740
88
3,712
3,888
1,500
0
0
0
176,523
107,702
55, 545 211,141
274,237
250,493
65,136
95, 875
41, 659
14, 458 44, 656 56, 404
16,180
5, 500
0
0
0
0
0
0
0
51
100
120
0
416
4,000
7,132
77, 122 46, 045 169, 382 41, 824 259, 659 63,046 139, 795
0
0
0
46, 378
0
0
C
3, 475
0
0
7,500
0
0
0
16,213
5,827
1,027
159, 686
23,571
20,171
99, 668 258,809 • 182, 742 282, 039
52, 979 77,060 r21, 240 30,241
12,198
3,987
18, 572 75, 981
500
630
1,170
0
2,500
10,386
3,986
0
375
2,475
0
550
136,115
12
500
0
0
0
579
4,202
0
30,135
0
71
46,689 181,749
15, 301 60,175
0
0
100
0
403
12, 666
1,500
2,700
' 15, 250 2,677
161,502 251,798
2,000
79, 810
0
850
300
5,000
250
0
86
111, 029
12,000
1,500
0
0
31,388
0
0
0
202
154,400
4,900
0
89,400
60,687
50, 649
142, 760
67,202
53, 684
669
183
725
180
764
206
86,959 132, 234 169, 736 128,654
43,764
89, 347 154, 875 47,031
701
139
380
133
839
864
Customers' debit balances (net)
mil.ofdoL
843
905
183
200
Cash on hand and in banks
do
209
213
196
Money borrowed
do...
589
571
528
559
617
238
272
Customers' free credit balances
...do...
284
25'
270
r
Revised.
1 See footnote marked " 1 " on p. 33.
• Includes reimbursement of corporate treasuries for capital expenditures.
t Revised series. Data revised beginning January 1937; see table 26 on pp. 15 and 16 of the May
0
0
830
160,185
9,438
1,536
60, 409 • 49,336 77,513 r 114,854 206,490
104,966
65,820
88, 656 170, 769 92, 336 105, 332 '110,110
336
147
325
138
300
104
168
71
939
189
662
252
991
190
754
24'
971
192
713
235
168
709
222
1939 survey.
12,755
720
106, 500
202
81
326
106
721
137
536
133
953
831
190
579
236
828
183
561
230
834
178
570
230
699
225
35
SUEVEY OF CURRENT BUSINESS
September 1939
Monthly statistics through December 1937, together with explanatory notes and references
to the sources of the data may be found in the
1938 Supplement to the Survey
1939
July
1938
August
July
September
1939
DecemOctober November
ber
January
February
March
April
May
June
FINANCE—Continued
SECURITY MARKETS-Continued
Bonds
Prices:
Average price of all listed bonds (N. Y. S. E.)
dollars. _
Domestic
do
Foreign
do
Standard Statistics Co., Inc. (60 bonds)
dol. per $100 bond..
Industrial (20 bonds)
do.
Public utilities (20 bonds)
do.
Eails (20 bonds)
do.
Domestic municipals (15 bonds)
do
U. S. Treasury bondsf
do...
Sales (Securities and Exchange Commission):
Total on all exchanges:
Market value
thous. of dol
Face value
do..
On New York Stock Exchange:
Market value
thous. of doL.
Face value
do
Sales on N. Y. S. E., exclusive of stopped
sales (N. Y. S. E.) par value:
Total
thous. of dol..
U. S. Government
do
Other than U. S. Government:
Total
do___.
Domestic
do
Foreign
do
Value, issues listed o n N . Y . S. E.:
Face value, all issues
mil. of dol_.
Domestic issues
do
Foreign issues
do
Market value, all issues
do
Domestic issues
do
Foreign issues
do...
Yields:
Bond Buyer:
Domestic municipals (20 bonds)...percent.
Moody's:
Domestic (120 bonds)
do...
By ratings:
Aaa (30 bonds)
do...
Aa (30 bonds)
do
A (30 bonds)
do...
Baa (30 bonds)
do...
By groups:
Industrials (40 bonds)
do...
Public utilities (40 bonds)
do...
Eails (40 bonds)
do.._
Standard Statistics Co., Inc.:
Domestic municipals (15 bonds)
do___
U. S. Treasury bondsf
do...
93.15
96.46
58.46
90.19
93.32
60.76
89.40
92.53
59.89
92.10
59.72
90.67
93.70
61.20
90.34
93.33
61.02
91.27
94.35
60.11
91.03
94.25
58.55
91.85
95.01
59.68
91.80
94.99
58.43
91.56
94.83
57.40
92.92
96.09
59. 73
92.08
95. 34
57.79
81.6
86.3
102.1
56. 4
118.3
108. 9
85.0
97.3
60.2
114.2
103.8
81.3
85.7
98.1
60.0
115.2
104.0
78.7
84.2
96.3
55.7
111.7
103.0
81.8
86.8
98.6
59.9
115. 2
104.3
82.1
86.9
99.3
60.2
116.6
104.0
81.1
86.0
98.7
58.6
116.5
104.1
81.9
86.2
99.7
59.7
117.3
104.4
82.1
86.4
100.7
59.0
117.3
104.8
83.1
87.1
101.3
60.9
117.9
106.0
79.4
83.8
99.7
54.5
116.4
106.6
80.2
84.8
101. 0
54.8
118.1
108.3
81.4
86.2
101.6
56.2
118.6
109.1
121,420 157,370
162, 425 232,147
117,162
161,552
110,826
148,992
166,812
237,245
139,760
207, 719
146,188
259,364
157,278
224,622
126,687
166,855
179,440
245,123
119,057
165,925
125, 737
167, 691
127,703
169, 641
87,837
123,949
127,133
194,877
93,667
130,647
92,923
126,207
133,469
195,775
107,389
169,415
116,550
221,469
119,160
178,731
86,903
121,222
137,021
195,394
92,210
133,554
93,060
130,243
91,785
129, 260
119,431
178,265
7,518
120,363
6,161
133,954
17,163
185,179
7,673
155,868
4,419
217,609
6,535
159,611
7,581
118,993
4,871
185,513
11,889
122,804
7, 459
123,104
7,390
126, 570
6,821
170,747
152,580
18,167
114,202 116,791
96,692 94,417
17, 510 22,374
211,074 152,030
185,528 131,490
25, 546 20,540
114,122
96,722
17,400
173,624
139,909
33,715
115,345
93,396
21.949
115, 714
98, 423
17, 291
119,749
102,189
17, 560
52,670
48,071
4,599
48,352
45,665
2,687
52,564
47,975
4,589
48,128
45,493
2,634
52, 647
48,056
4, 591
48,921
46,179
2,742
52,751
48,166
4, 585
48,571
45, 921
2, 649
52,610
48, 032
4, 578
49, 007
46, 331
2,676
49,409
44, 657
4,752
44, 561
41, 674
2,887
2.67
3.01
2.88
3.66
4.17
4.09
2.89
3.07
3. 83
4.84
3.22
3.62
4.21
5.63
3.18
3.57
4.13
5.49
3.17
3. 39
4.42
3.48
3.79
5.25
2. 65
2.16
2.87
2.52
177,506 151,449
155, 698 130,133
21,808 21,316
50,225
45,546
4,679
45, 539
42,675
2,864
50,301
45,640
4,661
45,442
42,597
2,844
2.98
2.90
4.17
4.03
3.21
3.60
4.20
5.65
3.43
3.76
5.09
2.82
2.51
49,424
44,676
4,748
44, 183
41,339
2,844
51, 554
46,920
4,634
47,053
44,268
2,785
51, 587
46,933
4,654
46,958
44, 233
2,725
51,466
46,862
4,604
47, 271
44,524
2,748
2.83
2.78
2.76
2.80
2.72
2.78
2.66
3.95
3.95
3.86
3.81
3.74
3.84
3.78
3.71
3.15
3.53
4.08
5.36
3.10
3.46
4.02
5.23
3.08
3.42
4.02
5.27
3.01
3.32
3.97
5.12
3.00
3.26
3.94
5.05
2.99
3.22
3.87
4.89
3.02
3.22
3.97
5.15
2.97
3.16
3.92
5.07
2.92
3.13
- 3. 86
4.91
3.50
3.82
5.18
3.43
3.73
3.39
3.65
4.83
3.40
3.63
4.82
3.31
3.57
4.70
3.29
3.52
4.63
3.29
3.48
4.46
3.35
3.51
4.66
3.30
3.45
4.60
3.23
3.42
4.47
3.02
2.58
2.82
2.48
2.74
2.50
2.75
2.49
2.70
2.47
2.70
2.44
2.67
2.34
2.75
2.30
2.66
2.17
2.63
2.13
50,331
45,649
4,682
44,837
42,041
2,796
Stocks
Cash dividend payments and rates (Moody's):
Annual payments at current rates (600 companies)
mil. of dol_. 1,391.46 1, 288.80 1, 295. 20 1, 293.92 1, 293. 59 1, 328.16 1, 315. 04 1, 316. 25 1, 329.91 1,334.15 1, 337. 76 1,339.27 1,382.43
935.03
Number of shares, adjusted
millions,. 935. 03 929.10 929.10 929.10 929.10 929.10
935.03
935. 03 935. 03 935.03
935.03
935.03
Dividend rate per share (weighted average)
1.49
1.43
1.48
(600 cos.)
dollars.
1.41
1.39
1.43
1.42
1.43
1.43
1.39
1.41
1.39
1.39
3. 01
3.01
3.01
Banks (21)
do...
3.01
3.00
3.00
3.01
3.01
3.01
3.00
3.01
3.00
3.00
1.31
1.38
1.37
1.28
Industrials (492 cos.)
do...
1.24
1.29
1.30
1.30
1.31
1.24
1.28
1.23
1.24
2. 33
2. 39
2.39
Insurance (21 cos.)
...do
2.31
2.24
2.24
2.31
2.31
2.33
2.24
2.31
2.24
2.24
1.92
1. 94
1.94
1.92
Public utilities (30 cos.)
do...
1.93
1.94
1.91
1.92
1.92
1.94
1.91
1.94
1.93
.90
.87
.90
Rails (36 cos.)
do__.
.85
1.09
1.05
.90
.90
.90
1.09
.90
1.09
1.09
Dividend declarations (N. Y. Times):
Total
thous. of doL 181,033 167,170 240,965 185,428 180,506 509,160 247, 569 194,118
186,095 154,076 377, 394 220,175
Industrials and misc
d o . . . 167,16' 157,175 230, 994 182, 735 169, 901 486, 396 229,916 181, 480 289, 412 182, 522 147, 635 358,417 200, 698
13, 866
18, 976
Railroads
do.__
3,573
19,477
2,693
10,605
22, 765
17, 653 12, 638 14, 427
6,440
9,995
9,970
Prices:
Average price of all listed stocks (N. Y. S. E.)
60.2
Dec. 31,1924=100
62.2
57.0
56.6
57.0
64.1
60.6
60.6
65.4
66.2
62.6
64.4
62.2
Dow-Jones & Co., Inc.: (65 stocks)
46. 82
44.43
49.32
45. 66
dol. per share43.98
50.32
48.99
42.68
49.64
49.13
48.68
46.13
46.05
139.26
132. 56
136. 52
Industrials (30 stocks)
_. do
150.12
137.04
145.06
127. 73
150. 36 151. 96
146. 87 144.60
139. 47 140.97
24. 96
23.05
23. 66
Public utilities (15 stocks)
do...
24.94
20.01
18.49
23.35
21.94
24.84
22. 05
22.92
23.30
21.64
28.29
27.59
Rails (20 stocks)
do..
27.02
28.49
30.31
25.62
31.29
30.52
31.07
25.75
30.62
31.20
28.16
96 95
99.74
New York Times (50 stocks)
do,..
94.19
99.74
95.68
105. 36 102. 73 102. 22 100. 59
90.46
106. 81 105. 29
98.90
173.12
Industrials (25 stocks)
do___
178. 03 175. 95 177. 53 171. 70 189. 69 186.99
167. 73
186. 99 181. 82 181. 21 178. 01
161.51
20.79
Railroads (25 stocks)
—do...
21.45
21.95
20.67
23.24
19.68
19.41
23.95
23.59
23.74
23.64
23.18
21.85
Standard Statistics Co., Inc.:
86.1
Combined index (420 stocks)
1926=100.
83.1
81.9
86.0
94.7
92.0
91.7
86.0
89.5
91.1
91.8
90.1
88.0
Industrials (350 stocks)
do ._
100. 6
97.0
95.9
103.9
108.0
100. 5
109.6
113.6
110.
109.3
106.3
105.3
108.0
Capital goods (107 stocks)*
do...
115.5
120.9
115.4
126.1
133.3
120.0
136.
136.4
130.9
127.8
142.6
139.4
129.3
91.5
Consumer's goods (194 stocks)*. _.do...
88.7
96.2
98.7
95.4
98.7
97.8
96.5
92.2
94.0
102.1
98.5
97.0
80.0
Public utilities (40 stocks).
do
85.8
82.4
84.7
84.9
77.4
81.2
83.8
76.5
72.2
80.9
77.9
75.0
24.8
29.7
25.0
25.9
Rails (30 stocks)
do...
28.1
29.8
28.0
27.3
25.5
30.0
28.8
27.8
25.7
Other issues:
Banks, N. Y. C. (19 stocks)
do...
50.4
53.7
55.2
51.0
53.5
49.6
47.7
49.9
46.7
50.0
51.1
51.2
55.0
Fire and Marine insurance (18 stocks)
do...
84.3
82.8
87.4
86.1
85.7
81.0
89.3
85.5
87.0
85.3
87.0
85.5
89.8
Sales (Securities and Exchange Commission):
Total on all exchanges:
Market value
mil. of dol.
882
603
556
774
1,621
943
1,573
1,129
655
1,306
1,225
1,058
Sharessold
thousands.
30, 89:
42, 614
23,131
21, 916
47,393 26,057 40,384
70,651
40,515 40,542 67, 924 53, 496 52,913
r
Revised.
•New series. For data beginning 1926 see table 24, p. 18, of the April 1939 Survey.
fRevised series. Revised data for U. S. Treasury bond prices beginning 1931, and U. S. Treasury bond yields beginning 1919, appear in tables 17 and 16, p. 18, of the
March 1939 Survey.
36
SURVEY OF CURRENT BUSINESS
Monthly statistics through December 1937, together with explanatory notes and references
to the sources of the data may be found in the
1938 Supplement to the Survey
1939
July
September 1939
1939
1938
July
August
September
DecemOctober November
ber
January
February
March
April
May
June
523
17,897
474
16, 050
FINANCE—Continued
SECURITY MARKETS—Continued
Stocks—C ontinued
Sales (S. E. C.)—Continued.
Total, on all exchanges—Continued.
On New York Stock Exchange:
Market value
mil. of dol__
677
Shares sold
thousands, „ 24, 519
Exclusive of odd lot and stopped sales
(N. Y. Times)
thousands.. 18,0(36
Shares listed, N. Y. S. E.:
Market value, all listed shares
mil. of dol_. 44, 762
Number of shares listed
milions—
1,430
Yields:
Moody's, common stocks (200)
percent..
4.1
Banks (15 stocks)
do
4.4
Industrials (125 stocks)
do.--.
3.8
Insurance (10 stocks)
do
4.0
5.2
Public utilities (25 stocks)
do
3.5
Rails (25 stocks)
do
Standard Statistics Co., Inc., preferred stocks:
Industrials, high-grade (20stocks)...percent.
1.474
57, 636
38,762
891
32,151
20,723
44,784
1,427
43, 526
1,425
3.7
4.7
3.1
4.0
6.1
4.1
3.8
.4.9
3.3
4.0
6.2
4.4
3.8
5.0
3.2
4.1
6.2
4.5
5.17
5.07
5.08
1,397
54, 625
1,157
41, 923
1,065
39,954
23,826
41, 561
27,923
27,490
43, 527
1,425
47,002
1,426
46, 081
1,427
3.8
5.0
3.3
3.9
5.9
3. 6
47, 491
1,424
3.6
4.8
3.1
4.1
5.7
2.9
4.92
4.94
850
32,035
4.8
3.0
5.7
3.9
561
19, 538
916
31,150
779
33, 775
25,186
13,877
24,565
20, 247
12, 933
11,967
44, 884
1,425
46,271
1,426
40,921
1,427
40,673
1,427
43,230
1,427
41, 005
1,429
3.8
4.8
3.4
4.1
5.6
3.5
3.7
4.6
3.3
4.0
5.3
3.2
4.2
4.8
3.8
4.3
5.8
3.9
4.2
4.8
3.9
4.4
5.7
4.0
4.0
4.4
3.7
4.1
5.4
3.7
4.4
4.5
4.1
4.2
5.7
4.1
4.94
4.94
4.92
4.99
4 94
4.87
986
37,051
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
648,056
7,180
216, 847
2,92!
171,198
3,096
23.65
T
642, 293
7,104
212, 358
2. 832
169, 079
3, 288
25.54
646,671
7,173
214, 532
2,874
168, 399
3,084
24.89
645,033
7,153
213,143
2,853
167, 650
2,998
24.78
71
67
70
70
66
70
62
70
111
71
64
113
71
63
107
66
62
101
63
62
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--_
Imports:
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...
61
66
65
62
73
96
61
64
102
65
64
116
74
63
66
58
107
67
63
51
53
52
55
55
54
55
55
102
54
53
102
54
53
104
56
54
99
54
54
62
61
76
83
102
113
101
102
101
87
53
54
99
52
53
55
55
59
53
58
53
63
61
55
100
53
53
112
60
54
107
58
54
111
61
55
102
56
55
35
46
56
63
99
VALUE §
Exports, incl. reexports
thous. of doL.
227, 780
By grand divisions and countries:
9,194
Africa
do
43,118
Asia and Oceania
do
13,938
Japan
do
90, 265
Europe
do—
9,473
France
do
5, 620
Germany
do
4,931
Italy
do
32. 231
United Kingdom
do
43,
489
North America, northern
do__42, 709
Canada
do
17.967
North America, southern
do
3, 606
Mexico
do—
23, 746
South America
do
6, 408
Argentina
do
4, 953
Brazil
do..-.
Chile
do
2,117
By economic classes (U. S. mdse. only):
Total
thous. of doL. 226, 737 225.111
32, 809
29, 667
Crude materials
do
10,460
5, 970
Cotton, unmanufactured
do—
38, 029
19,719
Foodstuffs, total
do
24,556
4, 671
Foodstuffs, crude
do
13, 473
15, 048
Foodstuffs and beverages, mfrs._do
5, 914
Fruits and preparations
do
4, 423
4, 049
Meats and fats
do
5, 221
11,436
3, 837
Wheat and
flour
do....
37, 270
45, 994
Manufactures, semido
131,357 117,003
Manufactures,
finished
do
17. 469
18, 52!)
Autos and parts
do
9,042
7. 62S
Gasoline
do...
39,719
43, 654
Machinery
do
168, 925 140, 836
General imports, total
do
By grand divisions and countries:
4.416
4. 497
Africa
do
36, 909
53, 040
Asia and Oceania
do
8,594
8,716
Japan
do...
§Revised series. Data revised for 1937; see tables 19 and 20, pp.
252, 231 268,756
230 621
246,321
271
40, 579
13, 007
102 995
H, 381
10. 270
3 CM
41 432
39. 545
38, 829
20, 034
4, 130
20, 196
4, 318
4, 222
2, 072
9,767 13,185
7,890 10, 308
45,107
50,990 48, 494 61, 591
28, 528
19, 806 19, 502 19,104
112, 702 127,710 110,192 112,672
11,235
12, 322 13, 788 11,134
8, 620
8,317
12, 057 10,106
5, 091
5,141
4, 132
5, 385
43, 238 40. 825
50, 737 56,140
38, 992 29, 007
36, 752 42,971
38. 513 28,458
36,170
41,895
23, 705
21,156
23, 285 21,473
5, 239
5, 829
4,465
4, 501
28, 538
22, 755 22, 664 23.314
6, 796
7, 736
5. 944
6T 034
5,143
6.749
4, 849
5, 382
1,741
2,139
1,913
2,123
7
277,928
212,908
8, 075
42, 445
17,692
95, 830
10, 818
6, 395
4, 381
42, 402
27, 001
20, 084
20, 801
5, 581
18, 695
3,114
4,908
1,736
218, 559 268, 364 230, 947 249,259
8, 523 11,560
46, 406 60, 505
17,484
23, 573
95, 445 108,143
10,653
12,614
5, 176
0, 446
3, 889
5, 056
38, 078 41, 874
26, 258 33, 092
25, 764 32, 298
20, 453 27, 598
7,991
5,928
21,472
27,407
5,281
4, 067
6,604
5, 120
2,188
1,480
10,101
49, 243
16,147
88, 809
12,408
4,806
4,130
31,311
35, 055
34, 535
23, 462
6, 320
24, 277
4.068
6, 007
1,479
8,530
54,165
21,394
97, 955
12, 944
6, 294
4, 400
37,410
43, 583
42, 637
22,356
6, 296
22, 669
4,918
5,417
1,621
243, 621 274, 319 249, 694 266,171 210, 258 216,036 264, 578 227, 597 245, 913
30,243
59, 807 49, 376 36, 391 30, 485 40, 072 26,016
59, 605 72,132
9,185
7, 458
19, 048 14, 975 13, 732 16,958
20,511
24, 050 25,016
23,
621
20,
927
27,
966
26,
553
29,
474
28,
422
31,051
33, 290
31,391
9, 810 10, 808
12, 287
11,170
16, 443 11,402
14, 254 12, 509 12,045
13,811
16,119
15,
679
15,151
17,429
17,
252
14, 608
20, 781
17,137
6, 656
5,844
7, 017
6,404
10, 000
7,227
10, 365 13, 253 10,116
3, 698
4,724
4,145
4, 851
4,113
4,204
4, 596
4, 110
3,944
5,459
7, 403
6, 400
7,601
4, 473
4, 588
8, 201
4, 030
4,038
41,008
45,
058
48,
247
39,955
j
34,
868
50, 499 35, 452
40, 159 44, 454
1 19
112.465 124,443 120,309 I 137,874 107, 305 118,128 150,882 136,951 140. 495
24,921
23,
753
28,
504
25,
335
21,396
25,417 | 29,161
17,303
12,299 j 14,171
6,813
10,119
8, 378
6, 307
8,516 j 12, 292
7,449
9, 085
9, 572 i 8, 370
43,
882
44,401
49,390
34, 605
34,550 ! 40, 90S 31,217
39,401 I 36. 026 38,053
165, 540 167, 651 177, 979 170, 181 '171,474 178, 201 158, 035 190, 437 1S6,195 202, 502
8,571
0, 964
8,640
6, 479
4, 069
4,145 3, 741
5, 081
5, 851
3, 799
50,033
52,130
51,818 42, 780 59, 952 51,162 59, 454
44, 394 40, 899 49,131
9,707 10, 607 10, 747
7, 896
14,053 i 12.020
11,285
11,678
10, 103 11,839
22,8, 143
43. 789
10, 089
35, 820
22 104
13 002
7, 519
3, 150
9, 001
35. 015
14 and 15 of the April 1939 Survey,
236, 058
9,996
49, 971
14, 769
85,711
10,807
5, 299
4, 263
30, 604
40, 452
39,874
23, 358
7, 922
26, 571
6,113
5,193
2,651
233, 359
25,713
6,157
19, 521
6,026
13, 495
3,523
4, 997
4,079
48, 462
139.664
20, 387
9,453
42, 191
178,953
4, 469
57,080
11, 237
37
SURVEY OF CURRENT BUSINESS
September 1939
Monthly statistics through December 1937, to- 1939
gether with explanatory notes and references
to the sources of the data may be found in the July
1938 Supplement to the Survey
1939
1938
July
August
September
DecemOctober November
ber
January
February
March
April
May
June
FOREIGN TRADE-Continued
VALUE—Continued!
General imports—Continued.
By grand divisions and countries—Continued.
Europe
thous. of doL. 44,496
France
do
5,146
Germany
do
3,975
Italy
do
2,264
United Kingdom
do
11,081
North America, northern
do
26,993
Canada
do
25, 557
North America, southern
do
18, 530
Mexico
do
3.627
South America
_do
21,370
Argentina
do
3, 207
Brazil
do
6,657
Chile
do....
1,822
By economic classes (imports for consumption):
Total
thous. of doL. 170, 451
Crude materials
do
50, 041
Foodstuffs, crude
do
21, 759
Foodstuffs and beverages, mfrs
do
27, 799
36,912
Manufactures, semido
Manufactures,
finished
do___. 33,939
39, 781
3,589
4,393
2,587
7,262
22,803
21,973
17,964
4,606
18,963
1,689
7,564
1,171
49,366
4,357
5,627
2, 824
10,143
23,899
23, 334
21, 329
3,295
20, 701
2,835
7,432
1,571
52,150
5,397
5,794
3,170
10,445
24,186
23, 500
17,924
2,440
22,693
3,882
8,820
1,681
58, 714
5,992
7,289
4,520
13,801
27,049
26, 249
16,183
3,134
21,821
3,631
8,536
1,648
54, 623
5,191
6,923
3,656
12, 898
25,839
25, 232
12, 566
3,084
23, 051
3,566
9,150
1,567
53, 609
5, 586
6,256
3,397
12, 251
24, 300
23, 554
12,753
4,748
24, 538
4, 252
9,191
2,457
51,273
4,703
5,231
3, 266
11,331
26,136
25, 222
17,924
5,429
27,309
6,633
8,420
3,277
47, 722
5,234
4,930
2,669
10,995
20, 302
20,129
18,650
5,270
22,102
6.083
7, 667
2,272
52, 298
5,692
5,171
3,976
11,971
23, 559
23,128
22, 732
6,326
24,932
5.460
9, 421
2,583
57, 574
5,411
13,829
3,289
11, 572
26,163
25, 671
19,406
4,442
23, 319
4,357
7,867
3,813
58, 946
7,122
2,885
3,289
15,192
28, 850
28, 323
22, 178
3,995
24, 434
4,355
7,420
2,750
46, 009
4, 903
3,349
2, 711
11,664
26, 964
26, 533
19, 299
4,365
25,132
3,952
9,160
2,468
147, 797
43, 236
20, 344
23, 711
29, 607
30,899
171, 053
49,498
21, 663
27, 829
35, 030
37,033
172,947
52,377
20, 473
28,639
33, 591
37,868
178,460
53, 708
21,120
27, 240
35, 753
40,639
171, 652
52, 355
23, 788
22, 995
35,172
37, 342
165, 522
53, 465
23, 093
20,887
35, 265
32,812
169, 323
53, 890
26, 774
16, 638
37,158
34, 864
152, 528
48, 073
22, 947
18, 635
34, 047
28,827
191, 226
59, 507
28, 205
26, 296
38.822
38, 396
185, 800
54,940
24, 053
25, 036
37, 936
43,836
194,193
62, 277
25, 886
26, 062
39, 857
40,411
178, 405
54, 725
22,518
27, 725
38, 633
34, 804
TRANSPORTATION AND COMMUNICATIONS
TRANSPORTATION
Express Operations
Operating revenue
Operating income
.
thous. of doL.
_
do
8,251
109
8,409
123
9,497
115
9,404
127
9,240
131
11,338
920
8,586
71
8,499
72
9,107
76
9,165
67
9,454
59
7.889
680, 255
49, 615
7.889
700, 569
51,132
7.889
729, 663
52, 229
7.889
789, 695
56, 582
7.889
775,461
55,274
7.888
838, 707
60, 028
7.888
790,120
56, 869
7.873
737,164
53, 361
7.873
835,136
59, 702
7.864
788, 941
56,628
7.864
811,584
58, 222
7.864
763 038
55, 383
63
56
38
41
101
37
61
63
68
62
63
46
40
84
37
60
34
67
71
71
49
43
83
50
64
72
78
64
68
51
40
74
39
61
41
69
75
76
50
43
95
62
65
71
82
68
69
50
42
95
44
62
48
72
70
76
58
39
76
53
62
41
76
69
70
58
40
81
44
61
74
74
64
78
58
37
72
40
59
23
67
69
69
53
43
83
41
61
92
74
63
76
64
37
71
40
59
22
65
69
67
55
42
79
41
62
102
76
62
76
62
35
64
31
60
22
64
67
65
46
36
70
38
62
93
75
63
66
57
36
67
32
62
21
70
66
62
55
36
73
40
62
86
73
58
36
47
39
68
37
62
31
72
60
43
56
38
76
40
61
75
70
62
44
40
41
73
36
61
81
73
62
51
42
40
81
40
61
58
70
67
58
47
42
89
30
61
108
74
67
68
51
40
90
36
61
64
71
2,392
382
18
120
191
49
598
98
936
229
100
92
2,553
468
22
120
148
63
604
106
1,022
169
86
49
3,542
668
31
159
221
102
799
141
1,422
144
68
42
2,530
511
26
109
137
69
594
65
1,018
175
85
51
2,949
664
35
131
163
67
708
44
1,138
221
106
71
2,302
515
30
103
129
53
561
33
878
218
106
67
2,297
529
30
99
116
42
577
34
870
209
102
63
2, 390
478
29
105
125
42
612
33
967
202
95
67
2,832
350
29
140
159
61
775
58
1,261
265
86
146
2,372
297
19
121
137
49
612
121
1,016
211
90
87
3,149
503
28
151
202
50
744
209
1, 261
175
79
65
315,387
253, 592
36, 330
229, 632
45. 377
1,097
322, 595
261,303
34, 427
232, 040
50, 362
6,277
353, 441
293,762
31,459
242, 409
68, 566
24, 068
319, 682
264, 135
30.211
231,257
49, 665
7, 422
318,336
251, 320
37.913
232, 704
49, 373
22, 225
305, 769
246. 803
34, 785
232, 946
32.891
d
8, 721
276, 904
224, 819
30, 237
220,619
18. 591
d
24,364
315, 091
257, 409
31,201
240. 359
34,317
d
10,505
282,118
224, 588
31,791
227, 622
15, 257
d
27, 896
302, 618
243, 611
31, 758
237,411
25, 101
d
18, 594
25, 236
1.003
1,976
29.110
.977
1, 825
32, 757
.977
1, 662
28, 471
1. 004
1, 564
28,133
.981
1,928
28,152
.964
1,790
25,553
.972
1, 555
28,831
.988
1,618
23, 983
1.035
1, 681
25, 737
1.045
1,725
28, 465
263
697
2,172
810
27S
480
1,998
779
328
684
2, 360
888
327
845
2,224
789
348
0
2,374
807
342
0
2,393
753
326
0
2,207
689
317
0
2, 664
873
362
101
2,473
892
363
735
2, 539
921
396
586
2, 437
905
Electric Street Railways
Fares, average, cash rate
Passengers carried t
Operating revenues
7.864
cents..
thousands
710,186
thous. of dol
Class I Steam Railways
Freight-carloadings (Federal Reserve):
70
62
Combined index, unadjusted.._ 1923-25=100 __
64
52
Coal
do _
52
Coke
do
36
43
37
Forest products
do
111
123
Grains and grain products
_.
do _
34
34
Livestock
do
61
59
Merchandise, 1. c. 1
„ . do .
112
Ore
_
do
60
74
66
Miscellaneous
.
_„
do
69
Combined index, adjusted
do._
61
62
Coal
_ „
„ .. do
76
62
Coke
do
43
43
37
Forest products
do
80
89
Grains and grain products ._
do
39
Livestock _ __
do-_
39
62
Merchandise, 1. c. 1
. _ _ _.
do
60
59
Ore
do
32
72
Miscellaneous
...
do
65
Freight-carloadings (A. A. R.):^
2, 549
2,273
Total cars
- . thousands _
429
353
Coal
do
24
17
Coke. .. __ . ...
do _ „
118
104
Forest products
_
do „
200
223
Grains and grain products
» do
44
44
Livestock
_
do,_
583
563
Merchandise, 1. c. 1
do
167
Ore
do
90
983
879
Miscellaneous
do
166
256
Freight-car surplus, total
do
79
105
Box cars
do
53
112
Coal cars
do
Financial operations:
Operating revenues, total
thous. of doL. 332,436 ••299,590
Freight _
__ __ do_. . 265, 086 '238, 132
41,269 <• 38, 000
Passenger
. do
241,962 -222,167
Operating expenses
___ do
49, 012 r38,431
Net railway operating income
do
d
3,955
Net income
do
Operating results:
26.312
Freight carried 1 mile
mil. of tons..
.998
Revenue per ton-mile
certs
2,118
Passengers carried 1 mile
millions
Waterway Traffic
Canals:
Cape Cod
thous of short tons
New York State _
_ do __
Panama, total
thous. of long tons..
I n U . S. vessels
r
do
369
538
2,318
806
270
524
2,026
810
r
321,
255,
38,
241,
39,
d
1,
r
617
763
436
786
095
685
Revised.
* Deficit.
^Data for October, December 1938, April and June 1939 are for 5 weeks; other months, 4 weeks.
JFor comparable monthly figures, January 1929-December 1936, see table 10, p. 15 of the March 1939 Survey, Data shown in that table beginning January 1937 have been
revised; see p. 37 of the April 1939 Survey.
§Revised series. Data revised for 1937; see tables 19 and 20, pp. 14 and 15 of the April 1939 Survey.
38
SURVEY OF CURRENT BUSINESS
Monthly statistics through December 1937, together with explanatory notes and references
to the sources of the data may be found in the
1938 Supplement to the Survey
1939
July
July
193S
DecemSepAugust tember October November
ber
September 1939
1939
January
February
March
April
May
June
TRANSPORTATION AND COMMUNICATIONS—Continued
TRANSPORTATION— Continued
Waterway Traffic—Continued
j
Canals—Continued
St. Lawrence
thous. of short tons..
Sault St. Marie
do
Suez
thous. of metric tons..
Welland
thous. of short tons..
Rivers:
Allegheny
....do
Mississippi (Government barges only)..do
Monongahela
do
Ohio (Pittsburgh district)
do
Clearances, vessels in foreign trade:
Total, U. S. ports
thous. of net tons
Foreign
do
United States
_
..do
9, 598
1,178
5, 552
2,508
1,529
1,215
6, 237
2, 482
1, 588
1,296
6, 624
2,248
1,786
1,429
7,141
2, 460
2,030
1,065
4,466
2,270
1,652
5
323
2,422
181
0
0
2,166
0
0
0
2,277
0
0
0
2,561
0
242
177
1,704
1,400
246
226
1,141
755
263
256
1,279
223
224
1,422
967
249
190
1,595
1.055
244
215
1,710
991
180
171
1,798
1,074
175
183
1, 568
1,003
135
124
1,557
199
136
1, 742
1,114
6,731
4,901
1,830
6,958
5,208
1,749
6,516
4,816
1,700
5.769
4,103
1,666
5. 678
4,037
1,641
5,062
3,813
1,249
4,670
3, 539
1,132
4,734
3,607
1,127
5,424
4,160
1,263
1,189
5,799
1,161
8,622
200
1,324
1,580
101
169
348
469
136
67
661
655
230
r 145
1,688
1,265
5,280
4,038
1,242
6,241
4, 766
1,475
6,667
4,971
1,696
41, 594 38,403
35, 002 49, 445 53,483
50, 859 56, 405 54, 806 56, 828 46,090
89,002 81,131 117,071 133,469
127, 590 143,488 139, 297 143,993 113, 621 99,119
541, 346 623, 770 877, 564 855,151 685, 389 761,090 577, 982 564. 928 685, 274 663,884
6,151
6,302
5,776
5,453
5,032
6,125
6,268
6,271
6,360
5,665
63,361
162,682
725,061
7,122
70,199
179, 055
824, 630
7,183
Travel
Operations on scheduled airlines:
Passenger-miles
flown
thous. of miles..
Passengers carried
number._
Express
pounds. _
Miles
flown
thous. of miles..
Hotels:
Average sale per occupied room
dollars..
Rooms occupied
percent of total..
Restaurant sales index
1929=100Foreign 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 passenger-miles
thousands.
~
;er revenues
thous. of dol.
72,918
185, 643
725,922
7, 541
3.29
57
85
3.19
55
82
3.29
57
3.28
61
85
3.32
65
89
3.47
60
94
3.26
54
3.21
64
88
3.28
63
86
3.15
64
83
3.37
63
100
3.20
63
90
3.34
62
56,906
51, 646
2,286
7, 357
9,059
58,027
31.848
2,227
8,226
5,138
31,710
19,931
2,081
8. 825
5,122
15, 649
16,103
2,157
6, 844
5,589
16, 614
18, 765
2,663
8,042
5,184
19, 556
24,307
10, 393
32,414
55, 528
2,616
6,385
13,094
25, 590
28, 224
1,479
5, 959
4,865
31, 909
21, 673
1,702
8,076
8,383
25, 374
21, 575
1,851
7,063
8,839
19, 800
19,011
2,077
6,049
16,080
20,889
24, 788
3,168
4,512
21,013
428, 827 236, 771
125, 436 71,416
77, 750
23, 783
916,175
249, 905
857. 504 811,209
238,127 226,102
2,344
5,661
5,927
74, 834 62,848
72, 280 164,736 248, 075 471,624
20, 587 17, 618 21, 779 48,892 73, 402 136,576
715, 529 651,851 585, 289 687, 369 793, 229 654, 896 715, 420 684, 444 631, 529 769, 819
3,912
4,488
5,263
4,769
4,555
4, 239
4,473
4, 447
4,842
4,147
57, 677
16, 798
739,390
4,407
683,593
4,409
94, 954
61, 587
24, 800
65, 505
16, 458
17, 335
96, 482
62, 029
25. 984
66. 239
17, 261
17,373
96, 725
62, 850
25, 428
67, 030
16, 791
17, 465
99. 608
65,105
25, 929
67, 634
18, 637
17, 528
98, 531 101, 552
64, 897 66,188
24, 959 26, 591
67, 434 69. 444
18, 946 18, 835
17, 593 17, 704
99, 234
65,815
24, 731
67, 281
18,527
17, 735
10, 618
9,049
11, 092
9, 524
11, 550
9,851
11,156
9,491
10, 751
9,114
12, 408
10, 553
10, 549
8,829
529
809
760
9,861
39
<*764
485
791
111
9,935
431
<*408
5S6
889
809
9,899
953
199
569
861
804
9,903
558
<*356
522
830
807
9,991
69
<*774
570
976
879
10, 756
1,041
291
527
856
864
9,816
15
<*884
COMMUNICATIONS
Telephone:
Operating revenues
thous. of dol..
Station revenues
do
Tolls, message.
do
Operating expenses
do
Net operating income
do
Phones in service end of month
thousands..
Telegraph, cable, and radiotelegraph carriers:
Operating revenue, total
thous. of dol_.
Telegraph carriers, total.
do
Western Union Telegraph Co., revenues
from cable operations
thous. of doL.
Cable carriers
do
Radiotelegraph carriers
do
Operating expenses
_
do
Operating income.
do
Net income
do
96,064 101. 610 100.083 102, 646 102,119
64, 504 66, 491 66,162
66, 875 66. 521
22,954
26, 498 25, 275 27,101
26.923
64.155
68, 456 65, 683 68, 983 68,184
18, 438 19,479
20, 576 19,832
20,027
17, 808 17, 897 17,974
18, 055 18,072
8,436
11, 577
9,717
11,012
9,383
11,735
10, 065
11,721
10,113
463
756
795
9,319
d 17
901
960
10, 031
814
502
768
861
9.809
512
<*387
514
790
880
10,289
699
d
229
501
774
834
10,142
886
43
(a)
CHEMICALS AND ALLIED PRODUCTS
CHEMICALS
Alcohol, denatured:
6,567
r 6, 642
7,395
9,124
10, 309 10, 433
6,720
8,203
7,648
11,188
7,578
7,523
Consumption
..thous. of wine gal_.
' 6, 710
6,828
6,454
7,437
9,181
11,101
10,195
7,616
8,490
7,846
7,719
Production
do
5,500
1,379
' 1, 253
1,364
1,294
2,015
1,466
1,233
1,260
1,766
1,416
1, 485
Stocks, end of month
do
1 285
Alcohol, ethyl:
15,164 16, 772 17, 067 14, 671 17, 423 17, 859 18, 655
16, 370
17, 284 15, 800 17,017
Production
thous. of proof gal _. 17,643
32, 232
33. 717
32, 736 28, 319 23, 277 20, 895 24, 433 26, 072 27, 741 29, 625 31,078
35,176
Stocks, warehoused, end of month
do
13,823
13, 202 13, 253 15,032
12, 350
18, 986 17, 249 17, 389 11,327
11,198
14, 483 16,072
Withdrawn for denaturing.
do
1,841
1,691
1,765
1,639
2,439
1,684
1,851
2,111
1,350
2,076
2, 009
1,590
Withdrawn, tax paid
do
Methanol:
22,716
8,431
10, 609
7,743
12, 648 25, 990 24, 355 26, 359 10, 806 24,195
18,441
Exports, refined §
gallons.. 195, 034
.36
.36
.36
.36
.36
.36
.36
.36
.36
.36
.36
.36
Price, refined, wholesale (N. Y.).dol. per gaLProduction:
352
335
344
357
365
389
282
303
336
354
378
Crude (wood distilled)
thous. of gal._
2,495
2, 618
2,844
2,463
2,295
2,267
2,407
2,276
1, 779
1,450
1,898
1,930
Synthetic
do
29, 385 28, 415 29, 258 26, 592 27, 801 26, 341 29, 315
23,136
27, 663 30, 443 32,151
Explosives, shipments
thous. of lb__ 27, 652
Sulphur production (quarterly):
72, 520
68, 900
83, 260
Louisiana
long tons..
472, 986
405, 263
Texas
do
478, 774
Sulphuric acid (fertilizer manufactures):
Consumed in production of fertilizer
92,189 128, 312 126, 974 151,083 147, 592 148, 289 142, 451 138, 273 119, 081 112, 593
short tons..
Price, wholesale, 66°, at works
16. 50
16. 50
16.50
16. 50
16.50
16. 50
16.50
16.50
16.50
16.50
16.50
dol. per short ton.. 16.50
109, 969 131,106 133, 266 161. 285 171,106 176, 923 181, 386 169,769 169, 952 145, 689 155, 902
Production
short tons._
Purchases:
15,021
18, 498
31,182 20,604 20,418
18, 751 11.951
8, 853
30, 388 38, 531 40,284
From fertilizer manufacturers
do
24, 249
18, 494 27, 515 22, 343 23, 778 17, 508 16, 542 20, 771
25, 097 18, 560 21,564
From others
do.
Shipments:
22, 312
27, 422 26, 032 28, 971 37, 752 33, 080 38.085 39,167
35,100
33, 202 38,123
To fertilizer manufacturers..
_do_
33,112
33, 462 34. 973 40, 904 38, 447 40,915
40, 850
35, 545 42, 864 35, 528 38, 835
Toothers
_.do.
d
«• Revised.
Deficit.
° Less than $500.
series. Data for Pullman Co. revenue passenger miles beginning 1915 and passenger revenues beginning 1913 are given in table 7, p. IS, of the January 1939
*Now
§Revised series. Data revised for 1937; see table 19, p. 14, of the April 1939 Survey.
7,944
8,166
1,982
16, 827
30, 860
15.029
1,858
108,084
.36
344
2, 295
30,210
105, 895
357, 819
106,137
16.50
140, 580
10, 535
25, 614
36, 966
43,369
Survey.
39
SUEVEY OF CURRENT BUSINESS
September 1939
Monthly statistics through December 1937, to- 1939
gether with explanatory notes and references
to the sources of the data may be found in the July
1938 Supplement to the Survey
July
1938
DecemSepAugust tember October November
ber
1939
January
February
March
April
May
June
CHEMICALS AND ALLIED PRODUCTS—Continued
FERTILIZERS
Consumption, Southern States
thous. of short tons..
Exports, total§~
long tons..
Nitrogenous!
do
Phosphate materials!
do
Prepared fertilizers!
do
Imports, total§
do
Nitrogenous, total!...
do
Nitrate of soda!.
do.._.
Phosphates!
_.
do
Potash§
do
Price, wholesale, nitrate of soda, 95 percent
(N. Y.)
dol.percwtPotash deliveries*
short tons..
Superphosphate (bulk):
Production
short tons..
Shipments to consumers
do
Stocks, end of month.
do
NAVAL STORES
Rosin, gum:
Price, wholesale "H" (Savannah)
dol.perbbl. (280 lbs.) ~
Receipts, net, 3 ports
bbl. (500 lbs.)
Stocks, 3 ports, end of month
do_.
Turpentine, gum, spirits of:
Price, wholesale (Savannah)
dol. per galReceipts, net, 3 ports
bbl. (50 gal.)
Stocks, 3 ports, end of month
do..
OILS, FATS, AND BYPRODUCTS
Animal Fats and Byproducts and Fish
Oils (Quarterly)
Animal fats:
Consumption, factory
thous. of lbProduction
_.do__.
Stocks, end of quarter
do...
Greases:
Consumption, factory
do...
Production
do...
Stocks, end of quarter
do...
Shortenings and compounds:
Production
do...
Stocks, end of quarter
do...
Fish oils:
Consumption, factory
—do...
Production
do...
Stocks, end of quarter
do...
'38
112,944
3,378
103, 228
497
60, 235
36,833
8,969
738
19,414
44
146, 636
27, 504
108, 665
169
79, 652
48,977
24, 450
1,827
27,908
137
116, 828
24,047
87, 824
369
131, 407
75,849
20,829
8,276
42,407
121
134,929
20,271
93, 058
261
158,140
82, 576
32,971
9,337
64,124
146
147, 587
20, 207
123,339
413
116, 298
50, 231
4,851
6,046
58, 730
217
133, 295
25,119
101,186
72
149, 798
78,124
32,336
3,421
66,897
436
85, 542
11,317
71,045
83
141,898
118,159
63,854
903
20,186
627
85,095
15, 645
66, 552
340
109,932
101,396
54, 552
969
6,795
1,476
123, 687
6,723
97,983
476
138, 782
116, 806
42,920
3,599
17, 235
1,271
136,328
5, 365
123, 270
343
191, 057
167, 558
115,188
1,462
16, 580
148,095
12, 142
112, 773
302
145, 432
99, 074
62, 010
7,033
10,415
136, 016
12, 655
105, 934
268
109, 737
90, 541
59, 332
594
16, 425
1. 450
25,989
1. 450
45,957
1.450
47,169
1. 450
72, 299
1. 450
69,798
1. 450
101,438
1. 450
2,489
1. 450
2,632
1. 450
5,250
1. 450
8,379
1.450
8, 674
1.450
17, 337
219, 936
6,592
,058,452
283,015
21, 340
.,057,215
279,381
108,470
1,160,299
314, 359
46, 980
,249,272
326, 794
17, 717
,322,306
343, 204
17,147
,361,127
322,211
29,340
,298,883
312, 284
54, 893
,288,536
301,694
161, 202
,106,679
286, 747
216, 671
815,911
277, 437
139,648
778, 758
243, 402
34, 263
871,109
5.19
4.61
121, 396
402,121
4.48
121, 505
475,130
4.14
119,818
542,161
5.12
87, 935
4.89
97, 664
660, 252
4.34
48,095
678, 731
4.90
20, 473
657, 839
5. 21
13,757
642, 825
5.65
19, 367
609, 502
4.86
43, 810
615, 381
4.94
57, 079
625,138
4.96
61, 744
639, 914
.30
.23
28,877
104,147
.23
29, 480
116,859
.21
31, 745
130,897
.22
17,670
128,334
.29
18, 364
134,460
.28
10, 593
133,921
.31
2,390
123, 584
.32
1,908
118,954
.35
3, 256
109, 626
.30
9,799
107,339
.30
14,638
104, 759
.30
15,884
102,941
154, 80U
8,067
137, 446
447
90.102
45, 632
18, 479
2, 321
41, 234
1.450
238,802
395, 795
296,157
460
456
505, 816
312, 725
501,165
346, 321
217,899
503,947
403, 809
48, 656
79, 787
56, 400
44, 480
87, 253
61, 276
48,182
86,419
54,170
47,438
92,964
54,943
411,949
45,270
370, 759
55, 662
354, 692
51,163
300, 076
55, 350
51,950
97, 753
206,906
71, 664
102,193
256,352
66, 512
47, 713
242,
66, 138
8, 983
180, 364
222,
233,
725
Vegetable Oils and Products
Vegetable oils, total:
Consumption, crude, factory (quarterly)
952
mil. of 1b.
997
816
3,994
2,359
1,824
3,027
Exports
thous. of lb._ 2,559
2,204
2,656
4,136
3,798
2,815
4,202
4,314
3, 673
Imports, total§
do_._ 79,467 89, 048 84, 636 80,424 90,189 94,982 92, 613 91,692 85, 466 98,010 60, 455 97, 275 91, 633
10, 708
14, 779
11,303
15,414
Paint oils!
do...
9,841
11, 850
9,372
11,414
12,13G
10, 525
8,169
9,382
10, 755
All other vegetable oils§
do... 69, 625 74, 268 72, 786 69,121 80,817 79, 568 82,089 80, 278 77, 298 87, 302 48, 319 87, 894 80, 878
580
Production (quarterly)
mil. of lb.
832
977
593
Stocks, end of quarter:
714
860
Crude
do...
870
732
494
Refined
do...
760
668
759
Copra:
Consumption, factory (quarterly)
54, 083
59, 473
short tons.
58, 414
52,114
24, 305
20,092
22, 630
17,927
23,105
15, 437
26, 745
20,96/
11, 643
20, 880
Imports
do... 19, S
17,491
12, 514
44,953
35, 816
36, 525
Stocks, end of quarter
do...
36, 081
C oconut or copra oil:
Consumption, factory:
154, 327
154,408
150, 922
Crude (quarterly)
thous. of lb_.
137,891
77, 365
64, 957
78, 573
Refined (quarterly)
do
53, 074
1,559
6, 331
2, 964
7,282
8,711
7,244
5, 295
4,729
8,420
7,023
7,204
3,428
2,129
In oleomargarine._
do...
21, 215
31,186
32, 579
38, 450
22,052
26,824
41, 370
39, 792
23,101
29, 122
34, 725
37, 556
[mports!
_do
Production (quarterly):
68,033
73, 685
75, 457
Crude
do_._
66, 388
75, 064
82, 743
68, 213
82, 506
Refined
do...
Stocks, end of quarter:
184, 342
20?, 322
202, 307
226, 894
Crude
dO-._
13,001
13,332
13, 735
12,315
Refined
..do...
Cottonseed:
72
127
22?
576
534
665
399
199
630
451
367
256
Consumption (crush)..-thous. of short tons.
52
70
1,274
152
58
262
1,155
95
136
631
327
73
45
Receipts at mills
do ..
120
194
337
1,069
1,054
1,559
782
518
371
1,560
336
1, 353
140
Stocks at mills, end of month
do...
Cottonseed cake and meal:
4,422
46
3.745
1,727
81
2,200
1,235
189
3S9
4,468
407
506
124
Exports
short tons_
Production
i o . . . 34, 293 56, 630 99, 884 256, 390 294, 408 284, 458 237.933 205, 49^ 169, 766 188, 051 115, 729 93, 845 43, 272
Stocks at mills, end of month
do.__ 120, 794 214, 611 216, 879 259,659 295, 380 313, 538 313, 348 289, 286 245, 221 196, 544 177,134 173, 019 151, 259
Cottonseed oil, crude:
Production
thous. of lb. 23, 691 41, 843 67, 603 178, 632 203, 746 195, 809 163, 035 145, 077 116,438 129,265 84,753 68, 322 32,817
Stocks, end of month
do._. 73, 353 33, 834 46, 382 111, 708 151, 570 168, 457 175, 377 178, 203 180, 666 177, 466 164, 945 137, 785 88, 828
Cottonseed oil, refined:
350, 990
301, 398
285,230
272, 970
Consumption, factory (quarterly)
do...
5,522
8,181
9,086
10, 246
6,781
In oleomargarine
do...
10, 381
9, 884
10, 807
10, 577
9,412
9,67
6,708
7, 58
Price, summer, yellow, prime (N. Y.)
.061
.086
.078
.081
.066
dol. per lb_
.074
.074
.076
.071
.066
.067
.069
.005
Production
.thous. of lb. 41, 519 53, 829 53, 996 92, 352 161, 768 162, 361 143, 823 138, 022 110,492 131,956 98, 803 82,011 78, 683
Stocks, end of month
do_ 558, 855 487, 928 409, 781 397, 382 446, 739 503,890 563, 794 609, 950 633, 329 642, 463 658, 332 639, 328 614, 470
*New series. Data are on basis of potassium oxide content;figuresbeginning 1928 not shown on p. 39 of the August 1939 Survey will appear in a subsequent issue.
§ Revised series. Data for 1937 revised; see tables 19 and 20, pp. 14 and 15 of the April 1939 Survey.
40
SURVEY OF CURRENT BUSINESS
Monthly statistics through December 1937, together with explanatory notes and references
to the sources of the data may be found in the
1938 Supplement to the Survey
1939
July
September 1939
1938
July
August
September
1939
DecemOctober November
ber
January
February
March
April
May-
June
CHEMICALS AND ALLIED PRODUCTS—Continued
OILS, FATS AND BYPRODUCTS-Con.
Vegetable Oils a n d Products—Continued
Flaxseed:
1,123
927
1,288
1,474
2,111
Imports^
thous of bu
1,565
1,381
1,346
Minneapolis:
1,961
67
70
Receipts
_ _ _ do . . .
450
136
205
107
1,286
28
27
221
152
80
47
87
Shipments.
_.
do
76
231
468
732
524
795
637
Stocks
do
1,499
1,416
Duluth:
1
(i)
14
357
241
152
Receipts
do
833
0)
0
128
324
2
58
620
8
Shipments
_ _
_do
416
253
152
112
Stocks
do
2
24
586
110
670
Oil mills (quarterly):
7,206
Consumption
do
5,043
2 389
3 019
Stocks end of Quarter
do
1.99
1.57
1.83
1.73
1.90
1.84
1.84
1.79
Price, wholesale, No. 1 (Mpls)—dol. per bu__
Production (crop est.)
thous. of bu • 15, 750
/ 8,171
Linseed cake and meal:
28, 692
27, 216
47, 302
50, 734
44, 589
44, 746
51,820
41, 577
Exports§
do
6,032
5,776
8,320
9,760
11, 679
7,913
Shipments from Minneapolis .
_. do __
6, 3G0
11, 670
Linseed oil:
72, 419
80 736
Consumption factory (quarterly)
do
.084
.086
.084
.086
.085
.090
.087
.083
Price, wholesale (N Y )
dol. per lb
139,106
98, 407
Production (quarterly)
thous. of lb__
3,209 """§,"966"
8,263 ~~~6,~867~ " " 4 , 7 7 l "
Shipments from Minneapolis
do _ . ~~~5,~886~ "~6\589~ ~"~5,~ 436"
141,785
113,012
Stocks at factory, end of quarter
do
Oleomargarine:
28,371
29,812
30, 350
25, 671
29,991
32,000
31,824
Consumption (tax-paid withdrawals) __do
20,114
Price, wholesale, standard, uncolored (Chi.140
.145
.158
.150
.135
.153
.143
cago) . . .
dol. per lb _
.155
30, 319
25,512
31,092
30,221
30, 373
28, 718
32, 387
Production
thous. of lb__ 19,262
Vegetable shortenings:
.093
.106
.108
.098
.096
.103
.100
.090
Price, wholesale, tierces (Chi.)
dol. perlb..
2,248
2,031
1,416
1,155
1,802
38
30
452
62
64
319
35
58
283
61
38
280
73
20
225
1
0
111
1
82
29
1
29
2
1.92
7,112
2,521
1.97
50,180
5,720
17,219
7,920
.085
"""3,166"
(1)
0
2
99
41
59
1.89
1.83
6,207
1 958
1.81
50,396
8,280
40 849
7,280
48 733
7,000
76,674
.088
.089
089
139, 209
7,200 ""~9,"786" "~6~486~
161,251
91, 360
093
124,823
6, 360
130 310
27, 774
29,032
23, 622
22, 827
20, 745
.140
27,701
.140
29,417
.140
23,325
.135
22, 699
.135
21, 111
.091
.095
.093
.093
.090
FAINT SALES
Plastic paints, cold water paints, and calcimines:
Plastic paints
„ _ thous. of dol
Cold water paints:
In dry form
do
In paste form
do
Calcimines
do
Paints, varnish, lacquer, and fillers:
Total
do
Classified, total
_
do
Industrial
__
do
Trade
do
Unclassified
_
do ___
44
43
44
42
47
34
30
82
33
44
46
45
43
156
227
206
148
225
213
159
244
242
162
219
282
156
253
245
115
190
226
113
169
222
126
211
235
144
219
251
187
316
280
210
317
282
230
338
305
••206
309
281
29, 472
20,769
8,199
12, 569
8,703
26, 730
18,512
6,603
11,909
8,218
28,821
19, 747
7,249
12, 499
9,074
29, 769
20,114
7,879
12, 235
9,655
28, 773
29, 486
8,481
12,006
8,287
25, 280
18, 367
8,397
9,970
6,914
20, 515
15,036
7,417
7,619
5,478
24, 229
17,828
8,180
9,648
6,401
24, 415
17, 395
7,982
9,413
7,021
31, 555
23,003
9, 626
13,377
8,551
32, 666
23. 830
9,469
14, 360
8,836
40,138
28, 546
9, 611
18, 935
11, 592
36, 886
2,6,197
9,781
16,416
10, 690
221
979
847
158
634
731
282
977
1,017
296
974
1,030
316
1,051
1,124
228
1,018
1,008
246
789
937
242
923
956
257
1,049
977
342
1,315
1,171
287
1,116
950
249
1,036
940
297
957
1,000
6
561
537
5
658
602
7
546
530
8
592
616
10
945
1,048
14
1,332
1, 251
7
1.112
1,032
6
896
856
9
989
1,014
14
1,078
1.029
12
508
522
10
491
509
9
446
378
645
604
385
303
548
484
860
759
1,044
9S9
1,031
956
758
671
725
682
871
770
963
810
736
600
782
704
795
703
2,404
699
811
894
3,212
900
1, 075
1.237
4,012
1,130
1, 265
1,617
4, 095
1, 062
1,401
1, 632
2. 583
630
836
1,117
2,076
515
527
1,035
1,439
359
358
721
1,410
374
391
645
2,910
692
891
1,327
3,289
785
1,150
1, 355
2,714
720
1,057
938
2,887
831
1,058
998
CELLULOSE PLASTIC PRODUCTS
Nitro-eellulose, sheets, rods, and tubes:
Consumption*
thous. of lb._
Production _
.do
Shipmentscf
do
Cellulose-acetate sheets, rods, and tubes:
Consumption*
thous. of lb
Production
_ do _.
Shipment-sc?
-do
Moulding composition:*
Production
__
do
Shipments^
- do
ROOFING
Asphalt prepared roofing, shipments:
Total
thous. of squares
Grit roll
do
Shingles (all types)
do__
Smooth roll
~
do
ELECTRIC POWER AND GAS
ELECTRIC POWER
9, 654
9, 955
10, 341 r 10,529
10, 641
10,567
10, 882
9, 596
10, 303
10,246
9,898
10, 270
Production total!
mil of kw.-hr
10,651
By source:
6,116
6,899
5, 828
5, 562
6,176
r 6, 743
6,976
6,402
6, 868
6, 760
5, 888
6,377
7 175
Fuel
do
r 3, 786
4, 450
4,165
3,742
3,826
4,393
3,402
3,906
3,543
3,845
3, 520
3,476
3.708
Water power .
do
By type of producer:
Privately and municipally owned public
9, 965
9,043
9,900
9,321
9,686
9,820
9,615
9, 600
10, 205
9. 586
9, 238
9, 846
8, 963
utilities
mil. of kw.-hr__
655
677
634
676
655
643
611
'709
633
661
660
667
Other producers
do
805
Sales to ultimate consumers, totalf (Edison
8,324
8.779
8,398
8,282
8,806
8,240
8,577
8,
335
8.
475
8.093
8,190
7,
562
Electric Institute)
mil. of kw.-hr._
1, 719
1,987
1,700
1, 604
1,627
1.723
1, 843
1.815
1, 527
1, 038
1, 502
1.611
Residential or domestic
do
5,615
5,751
5,867
5,849
5, 704
6,169
5, 940
5. 850
5, 786
5, 835
5, 773
5, 206
Commercial and industrial
do
159
121
197
192
166
134
111
206
144
178
156
130
Public street and highway 3tg
do
202
192
194
205
203
194
193
199
194
196
189
194
Other public authorities
do
524
531
493
473
461
479
547
413
407
449
441
410
Sales to railroads and railways
do
42
42
41
36
39
34
38
36
37
38
36
35
Interdepartmental
do ___
• August 1 estimate.
/ December 1 estimate.
1 Less than 500 bushels.
r Revised.
•New series. For data on nitro-cellulose consumption, cellulose-acetate consumption, and molding compositions beginning 1935, see table 15, p. 18 of the March 1939 Survey.
fFor electric power sales, see note marked with a "f" on p. 41 of the July 1939 Survey.
§Revised series. Data for 1937 revised; see tables 19 and 20, pp. 14 and 15 of the April 1939 Survey.
cf Includes consumption in reporting company plants.
^Excludes consumption in reporting company plants.
JFor electric power production, see note marked with a " 1 " on p. 41 of the July 19*9 Survey. Revised data on production "by type of producer," referred to therein, are
shown beginning June 1938 on p. 40 of the August 1939 Survey; data beginning 1920 will be published when available.
41
SURVEY OF CURRENT BUSINESS
September 1939
Monthly statistics through December 1937, together with explanatory notes and references
to the sources of the data may be found in the
1938 Supplement to the Survey
1939
July
1939
1938
July
August
September
DecemOctober November
ber
January
February
March
April
May
June
186,166
ELECTRIC POWER AND GAS—Continued
ELECTRIC POWER—Continued
Revenues from sales to ultimate consumers
(Edison Electric Institute)
thous. of dol__
176,099
182, 380
185,948
188,019
192,178
198, 991
201, 330
190,219
186, 714
185, 987
183,112
9,849
9,201
176
461
25,136
15, 949
856
8,155
9,862
8,212
180
460
23, 842
14, 642
682
9,947
9,284
196
458
26, 325
16, 466
898
8,803
9,936
9,264
212
450
29,180
17,655
2.147
9,179
9,926
9,241
220
456
30, 459
16, 041
4,847
9,365
9,947
9, 254
227
458
34, 600
16,196
8,306
9,853
9,886
9,201
212
465
34, 761
17, 211
8,101
9,250
9,914
9,225
219
461
33, 662
16, 687
8,004
8,785
9,907
9,218
210
467
33, 600
16,647
7,122
9,641
9,894
9,197
218
467
32, 626
16, 242
6,074
10,144
9,986
9,285
224
466
30,303
15, 755
4,421
9,969
9,979
9,290
214
465
27,917
16, 6,00
1,587
9,606
27, 484
21, 350
698
5,336
25, 894
19, 884
589
5,312
28, 383
21, 804
819
5,652
30, 573
22, 869
1,656
5,919
30, 881
21, 807
2,790
6,151
33, 310
21, 923
4,763
6,478
33, 734
22,125
5,196
6,292
32, 811
21,038
5,429
6,227
32, 450
21, 054
4,902
6, 368
31, 586
21, 252
3,840
6,368
30, 707
21, 845
2,519
6, 231
29, 561
22, 253
1,232
5,990
6,944
6,459
483
78,312
16,095
61,019
6,973
485
79,487
14, 373
63, 756
7,021
6,531
488
84, 378
15,513
67,466
7,082
6,571
509
92,958
19, 485
72,102
7,194
6,637
554
107, 536
29,135
77, 633
7,220
6, 655
563
126,093
42,881
81, 704
7,156
6,603
550
129, 398
49,177
78, 736
7,163
6,615
546
134, 515
51, 291
81, 770
7,194
6,636
555
127, 377
46,791
79, 303
7,178
6,626
549
113, 379
36, 510
75, 465
7,190
6,655
533
101,438
27,415
72,581
7,163
6,650
510
87,413
18,862
67,378
25,089
12,903
11,988
24,082
11,885
11,990
25,216
12, 279
12, 737
29,024
14, 853
13, 974
36,226
20,280
15, 801
45, 619
27, 751
17, 630
50,279
32,141
17, 899
51,197
32, 619
18, 331
47, 979
30,218
17, 520
41, 034
24, 845
15, 958
34,644
19,873
14, 550
28,559
15,197
13,193
GAS§
Manufactured gas:
Customers, total
thousands..
Domestic
do
House heating
do
Industrial and commercial
do
Sales to consumers
mil. 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:
Customers, total
thousands..
Domestic
do
Industrial and commercial
do
Sales to consumers
mil. of cu. ft_.
Domestic
do
Indl., coml., and elec. generation
do
Revenues from sales to consumers
thous. of doL.
Domestic
do
Indl., coml., and elec. generation
do
FOODSTUFFS AND TOBACCO
BEVERAGES
Fermented malt liquors:
Production
thous. of bbl_.
5, 637
' 5, 140
3,642
3,537
4,313
3,595
3,731
3,482
5,337
6,230
4,489
4,636
5, 650
Tax-paid withdrawals
do_
5,538
3,669
4,428
3,031
3,103
5,748
4,134
3,774
5, 622
3,816
' 5, 389
5,079
3,985
Stocks
.do.
9,330
7,081
8,242
7,774
8,540
9,442
8,265
7,467
7,570
7,367
9,086
8,746
' 9,190
Distilled spirits;
Production
thous. of tax gal_.
5,381
r 5, 695
11,829
6,095
9,294
18,923
22,147
16,956
13,019
10,876
10, 702
10,743
8,350
Tax-paid withdrawals
do
r 5, 758
5,605
6,246
5,672
7,491
11,745
9,724
10, 203
8,569
7,601
6,091
6,461
6,878
Imports*
thous. of proof gal..
745
632
667
641
924
1,381
1,691
831
776
676
1,200
772
845
Stocks.
thcus. of tax gal
520,429 496,903 496,012 495,163 495,003 501, 207 505,670 510,194 513, 453 516, 755 519,158 521,773 522,040
Whisky:
Production
do.
3,711
3,915
4,217
4,997
8,119
10, 562
9,193
10, 780
5,782
9,984
8,735
8,443
7,971
Tax-paid withdrawals
do
4,343
' 4, 339
4,226
5,837
9,571
5,008
7,693
8,173
6,794
5,003
4,878
4,890
5,737
Imports*
thous. of proof gal_.
534
647
555
818
1,215
571
1,459
1,046
706
582
730
666
678
Stocks...
thous. of tax gal_. 477,149 470, 400 469, 451 468, 480 466, 376 466,176 466,809 470, 251 472, 783 472,143 477,135 479, 271 478, 875
Rectified spirits and wines, production, total
thous. of proof gal
2,772
2,983
3,504
2,973
4,774
5,362
2,683
4,480
3,817
3, 670
3,425
2,960
Whisky*
_.__do_.
2, 055
1,879
3,898
2,710
3,689
4,445
2,192
2,496
3,078
2,800
1,977
2,375
Indicated consumption for beverage purposes:
All spirits*!
thous. of proof gal..
'8,699
'7,467
'8,015
'9,010 '12,950 '15,038 '13,118
'7,743 '10,771
'8,192
'9,775
'9,137
r
Whisky*!.
____do_.__
'6,767
6,266
'5,9C3
'8,306 '"11,328 '13,351 '11,425
'6,988
'6,816
'8,122
'7,142
Still wines:
Production*
thous. of wine gal
807
2,382
28,198
24,154
92,432
5,008
73, 578
1,026
1,678
1,003
1,103
677
Tax-paid withdrawals*
do..
4,205
4,229
5,123
8,644
5,033
6,843
7,215
5,883
5,018
5,157
4,994
4, 682
Imports*
_
do.
154
149
145
247
181
406
476
322
292
194
310
229
207
Stocks*
do..
97, 767
94, 716
99,166 127,066 137,224 128,047 122,601 117,094 111,357 105, 776 100,933
94,861
Sparkling wines:
Production*
do..
9
23
18
18
26
37
15
9
25
70
43
37
14
Tax-paid withdrawals*..
do..
14
23
40
54
16
78
17
13
11
13
23
18
16
35
60
S3
138
23
19
22
37
26
36
Imports*
.do__
656
664
659
636
608
554
639
548
546
558
587
647
Stocks*
___
_
do
DAIRY PRODUCTS
Butter:
Consumption, apparentf
thous. of lb__ 145,701 132, 391 138,602 140,216 152,408 150,912 153,152 145, 603 139, 535 153,186 153,009 179, 419 152, 631
Price, wholesale 92-score (N. Y.)
dol. per lb_.
.24
.26
.26
.28
.26
.26
.26
.27
.24
.26
.24
.23
.24
Production, creamery (factory)f.thous. of lb._ 179, 275 184, 275 167,215 149,914 136,132 j 116,042 121, 790 128, 303
121,065 139, 331 145,123 193, 701 200,135
Receipts, 5 markets^
do
77,460
77, 740
89,250
78,843
50,495
53, 269
64,457
53, 955
55, 705
60,091
59, 385 77, 966
84, 566
Stocks, cold storage, creamery, end of month
thous. of lb-. 165,094 173, 257 201, 252 210,703 194,285 i 159,254 128,872 111,354
92, 780
78,909
84, 437 131,609
70,909
Cheese:
Consumption, apparentf
do
64,441
55,978
57,838
68,200
69, 203
52,088
50, 428
56,702
64, 701
62, 356
57,101
77, 687
70,660
Imports
.
do
3,134
3,881
4,042
4,445
4,083
7,018
5,925
4,001
3,927
4,425
4,353
3, 781
4,881
Price, wholesale, No. 1 Amer. (N. Y.)
dol. per lb._
.15
.15
.14
.13
.14
.14
.15
.15
.14
.14
.14
.14
.15
Production, total (factory)f
thous. of lb__ 73, 400
69,800
80,268
54,400
41,407
39,168
53,877
38, 728
37,992
47, 775
54,600
77,300
86,170
American whole milkf
__do
55,830
58, 400 '64,660
42,791
30,251
28,171
41,267
27, 899
27,175
34, 281
41,145
60, 640
68,320
Receipts, 5 markets
do
14, 718
13, 786
16,880
16, 345
10, 537
10, 753
15,764
10,998
11,492
11, 960
11,157
14,402
14,322
Stocks, cold storage, end of month.
do
119, 291 134, 351 150,248 140, 755 132, 326 127,440 120,174 106, 411
91,485
81, 653
75, 345
79,272 r 98,850
American whole milk
_do
99,179 114, 607 127,862 121, 423 115, 351 109, 738 102, 563
90, 401
77, 270
68,812
62,866
64, 750 ' 81, 262
Condensed and evaporated milk:
Exports:
Condensed (sweetened)
thous. of lb._
215
220
80
279
356
355
104
259
91
306
142
148
195
Evaporated (unsweetened)
do.
1,862
2,338
1,922
2,380
2,335
2,034
2,198
1,522
1,785
2,508
1,710
1,799
2,007
Prices, wholesale (N. Y.):
Condensed (sweetened)
dol. per case..
5.00
5.00
5.00
5.00
5.00
5.00
5.00
5.00
5.00
5.00
5.00
5.00
5.00
Evaporated (unsweetened)
do
2.09
3.00
2.90
2.90
2.90
2.90
2.90
2.90
2.90
2.90
2.90
2.90
2.90
'Revised.
§See note marked with a " t " on p. 41 of the June 1939 Survey.
*New series^ Earlier data for the new series on alcoholic beverages appear in tables 2-8, pp. 15-18 of the July 1939 Survey.
fRevised series. For 1937 revisions in consumption and production of butter, consumption of cheese, and production of American cheese, see p. 41 of the December 1938
issue. Total production of cheese has been revised beginning 1920 to exclude cottage, pot, and baker's cheese; revisions not shown on p. 41 of the December 1938 Survey will
appear m a subsequent issue. Total indicated consumption for beverage purposes of all spirits and whiskey revised in entirety; exports should not have been deducted
from the tables as stated in footnote 1, table 6, p. 17 of the July 1939 Survey.
JFor comparable monthly figures beginning 1919, see table 14, p. 17, of the March 1939 Survey.
42
SURVEY OF CURRENT BUSINESS
Monthly statistics through December 1937, together with explanatory notes and references
to the sources of the data may be found in the
1938 Supplement to the Survey
1939
July
September 1939
1938
July
August
September
1939
NovemOctober
ber
December
January
February
March
April
May
June
15,420
FOODSTUFFS AND TOBACCO—Continued
DAIRY PRODUCTS—Continued
Condensed and evaporated milk—Continued.
Production:!
Condensed (sweetened):
Bulk goods
thous. of lb_
C ase goods
do,...
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 l b .
Fluid milk:
Consumption in oleomargarine
do__.
Price, dealers', standard grade*,dol. per 100 lb_
Production (Minneapolis and St. Paul)
thous. of l b .
Receipts:
Boston (incl. cream)
thous. of q t .
Greater New York (milk only)
do__.
Powdered milk:
Exports?
thous. oflb_.
Production}:
do._.
Stocks, mfrs., end of mo.$
do.-_
16, 615
2,894
223, 953
17,129
3,289
224, 681
14, 752
3,238
188, 507
14,178
3,210
146,679
14, 684
3,050
122,885
11,296
3,529
100,723
11, 922
3, 210
119,614
12,847
3,421
129,452
11,505
3,036
137, 882
15,408
3,075
181,094
3,283
202,090
22, 007
2, 899
262, 957
21, 059
2,755
265, 586
12, 504
8,570
21,850
10,249
20,119
9,932
17, 777
9,278
15, 248
8, 521
11,701
7,854
9,235
7,139
8,536
6,101
7,202
4,985
5,809
4,959
6,135
4,608
7,910
6,437
11,416
7,764
341, 686
392, 641
419,142
398, 287
344,316
284, 375
205,073
150,311
120,397
109,882
134, 625
209, 044
292,393
3,870
2.10
4,787
2.23
5,483
2.22
6,216
2.22
6,247
2.23
5,838
2.23
5,830
2.23
5,856
2.23
5,422
2.21
5,861
2.20
4,561
2.15
4,498
2.11
4,112
2.10
34,051
34, 641
29, 659
25,3:0
26, 377
26, 700
32,002
36,421
34,829
40,237
39,031
44,144
41, 873
129,851
16, 579
120, 412
17, 727
127, 352
12, 291
115,943
14, 936
120,748
15, 327
118, 582
14,342
118, 277
13,988
123, 868
12, 681
112,501
13, 906
125, 570
13, 322
121, 682
14,648
132, 670
13, 897
134, 712
637
28,999
27, 609
1, 396
35, 562
59, 764
1,036
27, 350
55,459
786
26, 870
52, 602
751
25,095
41, 204
673
20,419
37,194
549
21, 532
33, 259
473
25,006
32, 860
519
22,890
32, 318
689
28,233
30, 972
696
31,190
32,102
1,069
38, 877
31,982
739
* 38, 572
' 25, 861
944
1,177
5,817
13,194
7, 365
/ 131,882
6,738
5,595
4,776
4,844
3,025
2,041
0
11,453
1,197
0
10,198
1,447
2,893
9,772
3,244
10. 090
12, 800
2,996
10,272
14, 399
2,355
8, 736
18, 800
2,100
903
726
433
5,079
18, 400
2,139
3,046
22, 827
2, 356
1, 569
20, 395
3,071
555
17, 589
3,376
0
16,377
2,133
1.100
1.095
1.519
1.375
1.800
15,056
12, 564
1.456
/ 371,617
12, 356
.595
14, 493
406
17,196
25, 210
18, 863
22, 759
23,912
15, 749
12, 545
15,111
11,495
20,385
15,521
15,435
11,368
16, 772
6,600
124
614
206
.53
.60
3,791
6, 210
FRUITS AND VEGETABLES
Apples:
Production (crop estimate)
thous. of bu._
Shipments, carlot
no. of carloads._
Stocks, cold storage, end of month
0
thous. of bbl__
Citrus fruits, carlot shipmentS-.no. of carloads. _ 10, 860
1,093
Onions, carlot shipments
do
Potatoes, white:
1,813
Price, wholesale (N. Y.)
dol. per 100 Reproduction (crop estimate)
thous. of bu__ 356, 834
Shipments, carlot
no. of carloads._
1.144
.770
14, 600
',244
1.575
GRAINS AND GRAIN PRODUCTS
Exports, principal grains, incl. flour and meal§
thous. of bu__
Barley:
Exports, including m a l t
do
Prices, wholesale, N o . 2 (Mpls.):
Straight
dol. per b u . .
Malting
do
Production (crop estimate)
thous. of bu._
Receipts, principal markets
do
Stocks, commercial, end of m o
do
Corn:
Exports, including meal
do
Grindings
do
Prices, wholesale:
N o . 3, yellow (Kansas City)__-dol. per bu._
No. 3, white (Chicago)
do . . .
Weighted average, 5 markets, all grades*
dol. per bu. _
Production (crop estimate)
mil. of bu__
Receipts, principal markets
thous. of bu...
Shipments, principal markets
do
Stocks, commercial, end of mo
do
Oats:
Exports, including oatmeal
do
Price, wholesale, N o . 3, white (Chicago)
dol. per bu._
Production (crop estimate)
mil. of bu._
Receipts, principal markets
thous. of bu__
Stocks, commercial, end of m o
do
Rice:
Exports^
pockets (100 lb.).
Tmports§
do . . .
Price, wholesale, head, clean (New Orleans)
dol. per lb. .
Production (crop estimate)
thous. of bu._
Southern States (La., Tex., Ark., a n d T e n n . ) :
Receipts, rough, at mills
thous. of b b l . (162 1b.)_.
Shipments from mills, milled rice
t h o u s . of pockets (1001b.)__
Stocks, domestic, rough a n d cleaned (in
terms of cleaned rice) end of m o n t h
thous. of pockets (1001b.)..
California:
Receipts, domestic rough
basis (1001b.)..
Shipments from mills, milled rice
do
Stocks, rough and cleaned
(in terms of
cleaned rice), end of mo....bags (100 lb.) __
Rye:
Exports, including flour
thous. of bu_..
Price, wholesale, N o . 2 ( M p l s . ) . . dol. per b u . .
Production (crop estimate)
t h o u s . of bu _
Receipts, principal markets
do
Stocks, commercial, end of mo
do . _ .
8, 389
30,022
861
.45
.47
', 008
4, 823
8, 253
2,900
7,885
608
4,310
15, 664
5, 289
.48
.54
2,744
1,954
1,749
12, 335
17,025
10,522
18.924
12, 674
6,079
7,898
6,564
4,119
6, 915
.44
.45
.58
.53
. 52
.45
17. 240
9, 942
9,899
45,157
18, 994
23, 081
32, 698
16, 356
46, 645
650
1,405
616
9.703
6, 837
24, 669
20, 597
10, 128
22, 026
7,707
22, 609
220,315
83, 257
322. 270
40J 452
309, 896
50,561
215,914
46, 483
351, 826
39, 355
.034
.034
485
1, 625
.034
270
696
611
851
839
1, 685
270. 965
130,025
16." 480 i 269 219 260,721
119,712 i 135,853 118,298
268, 269
190,500
(a)
.43
• 40.834
1,470
7. 708
3,729
6,724
16, 817
15,096
)
.53
101
750
6, 032
6, 547
.50
.56
.29
e
898
6, 673
5,551
178
5, 764
16,187
.50
.54
17,419
18, 061
10, 489
116
.48
1, 147 I
1, 195 I
177, 142
58 !
.41
6,785
6, 825
179, 446
2S3
.41
3. 452 i
7,761 !
649
.52
.57
252,139
5, 846
15,015
.53
.56
.47
.56
.55
26, 573
27.617
15,004
. 033
50, 822
736
.55
.59
.46
2, 460
11,864
12.759
23, 145
e
28,323
.46
.47
368
.55
.55
.54
.56
.51
.57
6, 670
13, 752
3, 846
12, 253
5,967
10,182
4,579
8,874
4,474
5, 745
7. 050
6, 340
2,721
5,256
3,798
5,780
1, 663
5, 798
1,207
r 6, 510
.54
.46
.51
.46
.51
.51
.47
.48
14,373
8,827
50, 889
147
4, 199
17,676
.29
/ 1.054
5, 658
16, 919
223, 534
34, 816
298, 935
39, 991
.31
1,437
1.458
1,158 i
3, 979
3, 568
13,085
8,473
43, 741
130
114
2. 190
3,310
23,333
20, 170
34, 568
17, 381
17,042
30, 880
6. 303
6, 784
4,540
5, 695
306, 891
46, 344
302, 302
41, 296
302, 102
67, 608
274, 893
PO, 116
283,341
84,857
241,755
75, 647
.033
892
1,2-18
3, 695
942
8, 126
.033
.033
536
418
674
360
1, 003
929
790
1,017
902
3, 586
3,244
2, 893
2, 595
2, 092
169. 184 229. 760
118,478 143, 617
160, 345
136, 287
203, 447
144,414
197.332
97, 767
301, 497
264,633
258. 494
(a)
a
889
350, 435
.46
1,248
8, 309
.52
12, 562
8, 656
39, 262
6,221
15, 545
0I
949 j
8, 102 i
.43
511
7,724 I
1,241
7,630
795
7,153
a
c
1
f Dec. 1 estimate.
•" Revised.
Less t h a n 500 bushels.
No quotation.
August 1 estimate.
JFor comparable m o n t h l y figures beginning 1918, see table 13, p . 17 of the March 1030 issue.
*Ncw series. D a t a for price of milk beginning 1922 and average price of corn beginning 1918 appear in tables 38 and 39, p . 18 of the August 1939 Survey.
tRevised series. For revisions in condensed and evaporated milk production beginning J a n u a r y 1137, see p. 41 of the December 1938 Survey.
§Revised series. D a t a revised for 1937; see tables 19 a n d 20, p p . 14 a n d 15 of the April 1939 issue.
. 55
.49
.32
.30
301,531 I 3S2,4f,0 j 366,012 j 393,811 375, 056
.40
267
5, 945
4, 461
10,312
477. 536 ! 444.297 I 212,534 262, 200
161, IS! 182. 438 | 136, 365 129,003
307
.41
)
.53
r
5, 769
12, 622
911 |
978 i
10, 216
5, 398
49, 181
r
4, 304
14, 958
. 033
/ 52, 303
3, 191
436
.55
.56
.54
.60
.50
/ 2. 542
20, 262
10, 969
52, 644
724
()
.51
6,813 I
(a)
7,384
43
SURVEY OF CURRENT BUSINESS
September 1939
Monthly statistics through December 1937, together with explanatory notes and references
to the sources of the data may be found in the
1938 Supplement to the Survey
1939
July
1939
1938
July
August
September
DecemOctober November
ber
January
February
March
11, 946
8,782
11, 087
8,487
5,874
.78
.73
.77
.73
.69
.71
April
June
May
FOODSTUFFS AND TOBACCO—Continued
GRAINS AND GRAIN PRODUCTSContinued
Wheat:
Exports:
Wheat, including
flour§
thous. of bu_.
Wheat only§
do
Prices, wholesale:
No. 1, Dark Northern Spring,
(Minneapolis)
dol. per bu_.
No. 2, Red Winter (St. Louis)
do....
No. 2, Hard Winter (K. C.)
do....
Weighted av., 6 markets, all grades,.do
Production (crop est.), total
mil. of bu_.
Spring wheat
do
Winter wheat
do
Receipts, principal markets
thous. of bu_Shipments, principal markets
do
Stocks, end of mo. world est
do
Canada (Canadian wheat)
do
United States, total*
do....
Commercial
do
Country mills and elevators*
do
Merchant mills*
do
On farms*
do
Wheat flour:
Consumption (Russell)
thous. of bbL.
Exports§
do
Grindings of wheat
thous. of bu^Prices, wholesale:
Standard patents (Mpls.)
dol. per bbL.
Winter, straight (Kansas City)
do
Production:
Flour, actual (Census)
thous. of bbL.
Operations, percent of capacity
Flour (Russell)
thous. of bbL.
Offal (Census)
thous. of lb_.
Stocks, total, end of month (computed by
Russell)
thous. of bbL.
Held by mills (Census)
do
LIVESTOCK
Cattle and calves:
Receipts, principal markets thous.of animals
Disposition:
Local siaugh ter
do
Shipments total
do
Stocker and feeder
do
Prices, wholesale. (Chicago):
Beef steers*
dol. per 1001b..
Cattle, corn fed
do
Calves, vealers
do
Hogs:
Receipts, principal markets, thous.of animals-.
Disposition:
Local slaughter
do
Shipments, total
do
Stocker and feeder
do ._.
Prices:
Wholesale, heavy (Chi.)
dol. per 100 lb_.
Hog-corn ratio*
bu. of corn per cwt. of live hogs..
Sheep and lambs:
Receipts, principal markets..thous.of animals_
Disposition:
Local slaughter
do
Shipments, total
do
Stocker and feeder
do
Prices, wholesale (Chicago):
Ewes
dol. per 100 lb_.
Lambs
do
MEATS
Total meats:
Consumption, apparent
mil. of lb-_.
Exports*
do
Production (inspected slaughter)
do
Stocks, cold storaue, end of month
do
Miscellaneous meats
do
Beef and veal:
Consumption, apparent
thous. oflb_^
Exports §
do
Price, wholesale, beef, fresh, native steers
(Chicago)
_ ..dol. per l b ^
Production (inspected slaughter) thous. oflb_Stocks, cold storage, end of mo
do
Lamb and mutton:
Consumption, apparent
do
Production (inspected slaughter)
do
Stocks, cold storage, end of month
do
Pork (includinglard):
Consumption, apparent
do
Exports, totalf
do ___
Lardf
do
Prices, wholesale:
Hams, smoked (Chicago)
dol. perlb_.
Lard, in tierces:
Prime, contract (N. Y.)
do
Refined (Chicago)
do
|
7,414
2,977
.78
.69
.67
.68
12, 764
10, 844
11, 498
9,623
.78
.66
.70
.69
•731
e
181
« 551
99, 006
30, 840
89,281
101, 195
26, 726
260, 620
18, 726
349,372
61, 080
25, 258
330,930
65, 457
133, 725
944
8,630
409
39, 290
9,450
399
42, 098
4.74
3.41
5.43
4.25
4.97
4.01
«9,193
8,507
55. 0
9. 573
702, 336
9,160
54.8
10, 094
743, 993
5,808
6,049
5,358
3,483
5,720
3,104
6,917
4,893
6,970
4,430
.77
.70
.67
.68
/931
/244
/687
27, 345
38, 477
19, 110 14, 892
18, 252
23, 291
23, 797
21, 696
420,110 437, 340 439, 820 484, 150
150, 665 173, 542 162, 375 161, 161
845, 292
656, 242
139, 273 141, 914
136, 204
128, 748
174,410
138, 598
130, 198
107, 706
401,411
281,190
.76
.67
.66
.68
9,239
399
44, 234
4.91
3.91
.73
.69
.65
.65
9, 737
557
43, 896
4.81
3.79
.73
.66
.63
.65
12, 613
10, 217
.73
.71
.73
11,900
12, 758
467, 360
154, 325
9, 512
9,251
412, 390
144,817
118, 936
100,119
6,033
3,929
.78
.76
.70
.86
.83
.76
.80
.73
.71
.75
13,748
11, 113
379, 820
139, 071
446, 906
82, 689
92, 646
82, 481
189, 090
16, 000
11,174
359, 730
134, 085
25, 525
16, 851
319, 890
112,987
74,851
64,178
9, 226
540
38, 357
8, 351
510
38, 755
8,110
673
35, 447
553
41, 068
765
37, 698
812
39, 066
448
38, 927
4.91
3.80
5. 06
3.84
5.10
3.82
4.95
3.66
4. 79
3.54
4.87
3.47
5.23
3.60
5.16
3.58
8,951
56. 0
9,142
730, 612
8,244
55.7
8.916
665, 468
8, 516
55. 4
«9,424
693,372
8,440
55. 0
8, 043
699,737
8.838
59. 2
9, 286
704, 995
8,416
54.0
9, 266
672,015
8,476
57.2
8,711
681, 624
7, 757
57.0
8, 512
625, 888
6, 560
4.314
6,750
6, 200
5, 700
4,317
5, 550
5, 300
2,017
2.306
1, 465
1,635
1, 630
971
664
242
952
659
242
1,103
821
335
1, 061
950
469
1,122
1,120
594
989
927
473
843
632
309
975
608
259
807
496
213
9»2
579
9.30
9.53
9.68
10.71
11.01
9.25
10.31
10.91
10.20
10.42
11.11
10.84
10.33
10.88
10.70
10. 03
10 75
10. 29
10.13
11.00
9. 63
10.35
11.59
10.38
10.17
11. 36
11.19
10.29
11.44
10.31
],948
1, 570
1,797
1,881
2, 255
2,607
2, 570
2,699
1,394
546
35
1,122
444
32
1, 323
465
35
1,397
479
26
1, 660
587
28
1,903
691
33
1, 848
726
43
1, 928
754
41
6.03
8. 94
8.45
8.96
8.08
7.65
7.17
15.9
16. 1
16.8
17.4
18. 1
16.0
13.1
a
3, 641
3, 865
1, 667
1,946
44, 016
14,423
318,340
98,123
295, 492
' 81, 334
38, 291
85, 029
90,838
9,445
431
40, 324
9,634
60. 5
10, 484
765, 608
9,699
63.0
10,548
770, 077
14, 489
10, 672
1,294
1, 476
1, 467
869
581
233
1, 068
647
240
934
546
187
10.02
11.22
9. 56
9.68
10. 59
9.68
9.22
9.66
9.13
2, 205
2, 410
2,105
1,398
566
38
1, 654
' 547
45
1,509
485
44
1,822
575
1, 535
560
43
7. 18
7. 66
7.30
6.91
15.4
16.4
16.0
14.5
48
6.39
6. 68
11.9
13.2
2, 042
1, 964
2, 664
2, 986
2,805
1,9-45
1, 552
1,746
1, 546
1, 760
1,993
983
1, 040
261
979
992
177
1,146
1,495
438
1,174
1.786
621
1,124
1, 673
856
996
968
415
890
673
953
595
82
1, 046
720
110
000
1,082
155
1. 063
677
113
3.17
8.85
3.19
8. 56
3.27
7.93
3.28
7.56
3. 35
7.68
3.73
8. 38
3.7S
8. 59
3.97
8. 63
4.38
8. 54
4. 78
8. 66
5. 66
9. 36
1,053
48
1,033
699
69
965
28
937
601
61
972
548
60
1,070
31
1,005
459
53
1, 097
34
1,073
1. 092
33
1,177
.202
701
76
809
37
927
784
68
043
30
055
, 230
, 105
', 303
841
402. 870
710
470, 125
1,030 I
. 108
300.023
30 806
. 100 '
400, 30*5
34, 0f,0
51, 198
50, 790
1 050
55, 530
488 4 SO
570, i 70
30,1 00
25, ;<03
425, 905
1, 525
413
50
498,910
1, 261
479, 5S8
1, 248
461,485
1,192
.156
445,800
33, 491
. 174
444.617
35, 925
.170
462, 1f>0
34, 467
.170
405. 838
36. 943
174
477^ 452
41, 218
467, 9?n
52, 637
53,011
53, 073
1, 892
55. 536
55. 392
1.972
62,186
62,112
1,861
65. 392
65, 8S0
2, 318
63, 276
63. 588
2, 606
56, 375
56, 007
3,171
547,199
42, 223
25, 339
tf)O. 647
22. 187
12,881
486, 157
17, 329
10, 842
506,164
25, 193
18,790
554, 066
28, 332
21, 071
574, 112
27. 075
16. 009
.061
.071
.095
.106
. 226
. 212
248
. 0%
.098 !
.083
.097
oso
092
42", 53.
54.
54,
3, ,
63 '
63. -
112
570.:
4f;3. !
32,'
19/
.200 !
.077
. 090
.074 I
.0S6 I
073
. 084
. 073
.081
1, 951
913
804
167
1,070
'884
235
4 60
9.38
2.97
9. 25
1,105
42
1,127
701
05
'1,073
43
1, 083
r
740
08
I
. 172
410.
58.
251
1,711
2^0
022
157
."01
17 531
1,7
01
200
203
.2 07
070
081
007
077
.0 09
.0 70
'452,721
1,114
. 159
444,337
33, 591
r
r
53, 193
53, 238
1, 837
• 50.7, 020
37, 403
22, OSS 2
. 005
. 075
r
a
e
Revised.
Estimated.
August 1 estimate.
/ December 1 estimate.
*New series. For d a t a on United States w h e a t stocks beginning 1023, see table 20, p. 17 of t h e J u n e 1039 Purvey. For data on hop-corn ratio beeinnins: 1913, see table 33,
p. 18 of t h e J u n e 1030 S u r v e y . D a t a on exports of m e a t beginning 1013 n o t shown on p . 43 of t h e Ausrust 1039 S u r v e y will appear in s u b s e q u e n t issue. For price of beef steers
beginning 1913 see table 40, page LS of the August 19.^9 issue.
tRovisod series. D a t a on exports of lard revised for period 1013-37 to include neutral lard; revisions, which also affect total exports of pork, will appear in a s u b s e q u e n t
FRASER
issue.
^Revised series. D a t a revised for 1937; see table 19, p . 14 of t h e April 1939 S u r v e y .
Digitized for
44
SURVEY OF CURRENT BUSINESS
1938
1939
Monthly statistics through December 1937, together with explanatory notes and references
to the sources of the data may be found in the
1938 Supplement to the Survey
July
September 1939
July
August
September
1939
DecemOctober November
ber
January
February
March
500, 769
90,038
667,419
542,138
125, 281
April
May
June
563, 699
" "1,442
652, 456
523, 204
129,252
513,160
91, 858
656, 746
527, 213
129, 533
605,478
106, 945
659,587
520,251
139,336
585,804
106, 218
645,173
496, 796
148,377
17, 825
90,987
16, 217
70,568
FOODSTUFFS AND TOBACCO—Continued
MEATS—Continued
Pork (including lard)—Continued.
Production (inspected slaughter) total
thous. of lb._
Lard
do....
Stocks, cold storage, end of month
do
Fresh and cured
do
Lard
..do....
POULTRY AND EGGS
Poultry:
Receipts, 5 markets
thous. of lb
Stocks, cold storage, end of month
do..
Eggs:
Receipts, 5 markets
thous. of cases..
Stocks, cold storage, end of month:
Case
thous. of cases.Frozen
thous. of l b . .
Cocoa T R O P I C A L PRODUCTS
Imports
long tons.Price, spot, Accra (N. Y.)
_.dol. per lb_.
Cofiee:
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 l b . .
Receipts at ports, Brazil
thous. of bags..
Visible supply, total, excl. interior of Brazil
thous. of bagsUnited States
do...
Sugar:
Raw sugar:
Cuba:
Stocks, total, end of month
thous. of Spanish tons..
United States:
Meltings 8 ports
long tons..
Price, wholesale, 96° centrifugal (N. Y.)
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
do—
Price, retail, gran. (N. Y.)
dol. per lb..
Price, wholesale, gran. (N. Y.)
do—
Receipts:
From Hawaii & Puerto Rico-.long tons..
Imports:
From Cuba§
do—
From Philippine Islands§
do—
Tea:
Imports
thous. of lb_.
Price, wholesale, Formosa, fine (N. Y.)
dol. per lb..
Stocks in the United Kingdom.-thous. of lb..
MISCELLANEOUS FOOD PRODUCTS
Candy, sales b y manufacturerst-thous. of dol.
Fish:
Landings, fresh fish, prin. ports_thous. of lb..
Salmon, canned, shipments
cases.
Stocks, cold storage, total, 15th of month
thous. of l b .
Gelatin, edible:
Monthly report for 7 companies:
Production
do.__
Shipments
do_._
Stocks
do...
Quarterly report for 11 companies:
Production
do...
Stocks
TOBACCO
do__.
534,284
94,453
594,899
454,958
139,941
436,978
72, 938
502,658
378,981
123,677
27, 712
65,138
22,960
52, 640
1,161
7,017
143,021
448,180 443,756 531, 753
75, 838 89, 716
74,192
451, 397 367,177 319, 312
334, 777 277, 231 251, 645
116, 620 89,946
67, 667
651, 636
105, 533
373,641
299,142
74, 499
756, 532
134,776
537, 525
430,104
107, 421
74,302
118,088
65, 855 23, 286 16, 744
139,108 133,531 116,229
715,179
132, 533
658,489
526, 411
132,078
23,747
54,941
5,965
), 942
36 763
77 692
646
574
760
1,041
2,065
2,311
5,942
6,411
135, 329 125,018
4, 765
110,244
3 244
94 305
1,439
78,091
302
62.903
136
50,345
165
44, 476
1,105
60, 465
3,357
5,880
117,900
r
6,977
141,456
1,035
24,427 28,494
66,796 ' 67,470
16,093
.0433
21,180
.0526
40,630
.0532
18,147
.0524
12 117
.0499
8,930
15, 887
.0462
18,143
.0437
33, 297
.0460
43, 792
.0468
32, 052
.0448
28,889
.0446
14,130
.0436
1,217
724
1,055
1, 305
683
1,190
1,591
819
1,145
1,526
818
1,189
1 598
861
1 147
1,218
775
1,386
1,451
785
1,325
1,191
662
1,423
1,222
697
1,086
1,305
694
1,497
1,232
610
1,017
1,638
767
1,187
1,563
774
1,302
.051
1, 616
.049
1,214
.054
1,624
.056
1,792
055
1 615
.055
1,421
.053
1,700
.053
1,295
.052
1,033
.051
1,279
.051
1,341
.052
1,498
.053
1,290
8,079
781
7,276
701
7,621
858
7 468
721
7,409
7,836
914
7,816
855
7,740
860
7,757
867
7,916
805
8,249
727
7,960
857
1,868 1,554
1,316
1 014
784
750
725
1,407
2,580
2,621
2,263
2,038
1,846
362,129
382, 948
.029
.028
391, 543 425, 588 375 935
.028
.030
115,750 158, 276 113, 822 142. 271
316, 242 211,077 347, 381 311,574
351,005 282, 876 334. 246 308,086
8,723
.050
.043
4,958
.050
.044
5,134
.050
.043
6,428
.049
.045
031
292, 036 247, 226 261, 257 247,112
.030
.029
.029
.028
371,979
.028
401, 523 328, 213 304, 631
.029
.029
.029
56,139
98, 038 62, 317 122,969 183,880 184, 440 137,011 127, 764
116,173
46,066
213.840 111,170
63, 481 116,014 228,690 200, 084 184, 364 256,265
269, 978 215, 388 194, 732 199, 056 241, 039 236, 666 271,306 357,250 382,443
14,529
6,557
4,472
5,003
4,018
5,344
5, 532
3,641
5, 625
.050
.050
.050
. 050
.050
.049
.049
.049
.049
.044
.044
.042
.044
.045
.042
.044
.044
.046
3,846
2,908
1,335
1,208
1,339
9,479
4,183
17, 734
16, 662
18, 076
23, 352
32,145
1,451
40, 044
6,189
59,872
6,563
11,791
2,995
0
2,532
328
987
1,413
536
5,187
2, 223
18, 230
2,979
10, 336
6,495
18, 870
9,191
24, 599
9,393
6,798
5,270
6,253
7, 528
2,293
4,287
7,959
7,931
8,576
6,866
8,785
6,724
.280
.280
170,197
.280
182, 558
11,185
10, 359
13,053
41,665
.280
.280
189, 983 214,017
22, 945
7,603
.280
.280
.280
.280
231, 628 243, 223 252, 634 234, 468 205,084
21,401 I 23,656
21,243
27,112
34,701
39, 254 46, 898 37, 460 40,276
653,102 814, 883 1,112,465 899, 579 539, 699 716,458
59, 985
66,716
75,882
953
1,353
6,096
1,063
1,400
6,615
1, 056
1,994
6,014
924
1,397
5,542
3,909
7,956
85, 665
93, 024
1,082
1,445
5,179
1,364
1,226
5,317
1,518
1,242
5,593
5,234
8,004
17,717
18,195
18,886
.280
.280
.280
182, 681 168, 308 161,255
16, 223
15,169
12. 696
38,323
25, 652 30, 983 41, 554 43,546
23,070
524, 250 487, 357 525,662 524, 393 257, 564 221, 785
r
62,253
77,088
40,423
29, 756 35, 295 46, 965
1,554
1,301
5,845
1,437
1,335
5,948
1,538
1,557
5,929
6,340
8,909
1,546
1,178
6,296
1,641
1,418
6,520
1,444
1,468
6,496
6,323
9,478
Leaf:
17,146
55,167
54, 217 28,013
37, 502 44, 333 21, 777 24, 502
15,940
13, 467 35, 219 60, 379 82,034
Exports§
thous. of l b .
7,765
4,797
4,783
6,865
5,820
6,284
5,324
6,289
5,641
10,435
Imports, incl. scrap§
d o . . . e 6,463
5,492
6,592
•/I, 379
1, 656
Production (crop estimate)
mil. of lb.
Stocks, total, incl. imported types, end of
2,136
2,343
!,367
quarter
mil. of lb _
1,703
1,912
Flue-cured, fire-cured, and air-cured..do.__
1,946
r
318
334
323
Cigar types
do_._
Manufactured products:
Consumption (tax paid withdrawals)^
15,445
16,595
13, 506 12, 656 13, 863 11, 782 14, 244 12, 269
14,260
14,711
13, 784 15,892
13,264
Small cigarettes
millions.
Large cigars
thousands- 427, 532 420,510 477, 596 486, 482 525, 662 515, 859 333, 982 349,497 361, 233 437, 584 403,042 470, 580 486, 721
Manufactured tobacco and snuff
30,499
30,107
25,62
29,594
26,914
25,425
30, 940 27,126
30,577 27,869
30,473
thous. of l b . 26, 246 27,544
Exports, cigarettes!
thousands- 691, 696 466,561 502, 491 410,493 631,023 518, 943 576,210 451,194 623, 889 562, 225 424, 857 592, 851 593, 218
Production, manufactured tobacco:
27,150
22, 571 26,052 22, 895
24, 825 23,260
24, 954 27, 756 27. 327 24, 969 28,111
Total
thous. of l b .
395
372
319
423
325
363
358
382
403
409
378
Fine cut chewing
do
4,974
3,419
4,322
4,076
4,
266
4,145
4,344
4,290
5,023
5,140
4,701
Plug
do
3,501
3,419
3,023
2,924
3,365
4,563
4,133
2,151
3,709
3,655
5,443
Scrap chewing
do
17, 747
14, 711 17, 451 15,045
17, 812 17, 671 18, 503 15, 580 15,650
14, 005 17,962
Smoking
do
534
491
471
426
400
415
440
433
444
537
426
Twist
do
••Revised.
* August 1 estimate.
/ Dec. 1 estimate.
JFor monthly data beginning 1928, corresponding with monthly averages for 1928-33 shown in the 1938 Supplement, see table 7, p,17, of the January 1939 issue
§ Revised series. Data revised for 1937; see tables 19 and 20, pp. 14 and 15 of the April 1939 issue.
45
SURVEY OF CURRENT BUSINESS
September 1939
Monthly statistics through December 1937, to- 1939
gether with explanatory notes and references
to the sources of the data may be found in the
July
1938 Supplement to the Survey
1939
1938
July
August
September
DecemOctober November
ber
February
March
April
May
June
5 513
46. 056
5.513
46.056
5.513
46.056
5.513
46. 056
5.513
46.056
5.513
46.056
165
154
143
137
336
9.078
5,296
4,842
January
FOODSTUFFS AND TOBACCO—Continued
TOBACCO—Continued
Manufactured products—Continued
Prices, wholesale:
Cigarettes
dol. per 1,000.Cigars
do . -
5.513
46. 056
5 513
46 056
5 513
46 056
5.513
46.056
5 513
46. 056
5.513
46.056
5.513
46.056
FUELS AND BYPRODUCTS
COAL
Anthracite:
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:
Exports!
thous. of long tons..
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,.
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
160
8.667
2,913
2,611
716
112
r
143
9.605
4,165
3,519
9.713
3,728
3,167
11.49
9.706
4,471
3,849
9.731
4,953
4,047
4,114
3,382
11 35
L642
3,604
3,232
2,121
1,917
1,901
1,458
1,046
761
408
86
63
44
63
51
37
29
25
22
35
129
9,231
2, 580
2,361
9.431
2,729
2,336
11.02
9.602
3,337
2,888
1,757
1,924
61
149
127
100
9.154
5,073
4,206
238
194
10.55
9.148
r 3, 530
2,959
559
71
1,192
956
1,093
1,032
1,107
1,092
489
277
282
348
207
21,769
72
4.748
559
124
3,538
5,903
665
6,160
18, 862
69
3,085
478
127
3,038
5,482
583
6,000
20,346
79
3,534
478
128
3,315
5,662
660
6,490
21,116
88
3,770
430
130
3,338
5,938
652
6,770
23, 734
100
4,360
486
134
3, 575
6,663
736
7,680
24, 921
110
4,622
441
138
3,530
6,597
803
8,680
26,533
123
4,742
342
144
3,684
7,161
837
9,500
26,185
121
4,751
212
149
3, 595
7,149
858
9,350
24,183
111
4,346
244
137
3,051
6,545
759
25, 786
107
4,855
368
143
3,168
6,970
805
9,370
22, 390
31
4,114
402
131
2,827
6,042
823
8,020
97
202
100
172
99
211
112
258
129
265
81
68
261
92
249
105
259
4.243
4.275
29, 490
4.297
4.434
23, 367
4.296
4.469
28, 665
4.299
4.524
32, 286
4.299
4.576
34, 989
4.299
4.565
35,925
4.298
4.557
36,541
4.290
4.544
35,530
4.286
4.520
33, 910
4.283
4.491
35, 290
4.421
4.345
10, 747
4.464
4.300
17, 880
4.246
4.238
• 27, 900
29, 575
24, 625
4, 535
342
191
6,963
4,243
511
7,840
4,950
33,615
27, 265
5,364
275
277
7,905
4,532
652
8,260
6,350
34, 579
27, 719
5,540
299
279
7,834
4,556
651
8,560
36, 507
29, 377
5,952
313
263
8,029
4,672
638
9,510
7,130
39,024
31, 324
6,459
330
258
8,195
5,052
620
10,410
7,700
40,821
33, 321
7,173
346
264
8,413
5, 315
650
11,160
7,500
40,720
33, 670
7,462
349
252
8,491
5,629
687
10, 800
7,050
39, 720
33, 270
7,374
350
236
8,379
5,819
742
10, 370
6,450
39, 887
34,087
7,373
403
220
8,456
6,736
879
10,020
5,800
40, 505
35, 225
7,222
414
217
8,760
7,603
1,029
9,980
5,280
31, 746
28, 226
4,434
321
179
7,642
6,387
803
8,460
3,520
25, 413
22, 613
2,598
275
129
6,740
5,196
545
7,130
2,800
• 26, 991
• 22, 761
3,548
286
••170
' 6, 695
r 4, 484
'518
7,060
4,230
95
237
250
20, 518
39
3,383
416
125
3,032
5,915
678
6,930
79
122
;. 68
8.54
• 21, 521
81
4,361
530
r
123
'3,317
r 5, 748
671
6,690
195
8.28
COKE
Exports
thous. of long tons..
Price, beehive, Connellsville (furnace)
dol. per short ton..
Production:
Beehivet
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
39
39
33
40
38
27
25
23
21
18
37
43
3.750
3.750
3.750
3.750
3.750
3.750
3.750
3.750
3.750
3.750
3.750
3.750
3.750
47
3,365
' 42
2,177
138
3,564
1,460
2,104
610
50
2,494
148
3,709
1,453
2,256
651
56
2,675
111
63
3,093
147
3,716
1,334
2,382
654
70
3,278
153
3,745
1,307
2,438
678
79
3,363
142
3,610
1,291
2,319
708
77
3,367
126
3,330
1,241
2,089
717
71
3,078
117
3,116
1,242
1,874
705
3,439
128
20
2,915
142
25
2,396
132
52
3,090
142
3,037
1,198
1,839
694
2,967
1,091
1,876
734
2,751
951
1,800
716
2,657
931
1,726
710
2,772
945
1,827
55
3,675
1,392
2,283
623
PETROLEUM AND PRODUCTS t
Crude petroleum:
Consumption (runs to stills).-.thous. of bbL99, 856 101, 352 96, 990 100, 787 97, 309 97, 964 99, 614 87, 797 98,917
99, 303 105, 755 104, 687
Imports§
do
1,584
1,720
2,647
1, 371
2,678
1,343
1,736
4,186
2,669
2, 3,08
3,279
3,061
2,788
Price (Kansas-Okla.) at wells-_.dol. per bbL.
1.160
1.160
1.040
.960
.960
.960
.960
.960
.960
1.160
.960
.960
Production
thous. of bbl._
101, 830 98, 567 102, 287 102,490 93, 475 106,768 105, 510 110, 541 104, 607
102, 898 106,165
Refinery operations
pet. of capacity. .
79
77
78
76
79
77
83
79
85
Stocks, end of month:
California:
Heavy crude and fuel
.thous. of bbL.
84, 724 85,132 86, 705 87, 222 87, 399 87, 222 87, 595 87,002 86, 294 86,075
85, 580
85,049
Light crude
do
37,193 36,927 38, 323 39,383
33,138 33, 548 33, 975 34,999
36,064
39, 699 39, 878
38,902
East of California, total
do
247, 361 243, 952 240, 251 233, 463 228, 741 229,140 227,134 227,098 229,079 230, 926 230, 279 226, 462
Refineries
do
40, 386 41, 221 42, 540 41, 777 41,154 40,180
43, 674 42, 724 42, 979 41,131
40, 445
41, 463
Tank farms and pipe lines
do
203, 687 201, 228 197, 272 192, 332 188, 355 187,919 184, 594 185, 321 187, 925 190, 746 189, 834 184, 999
1.715
Wells completed
number..
1,385
1,601
1,572
1,419
1,252
1,648
1,419
1,608
1,539
1,338
1,656
Refined petroleum products:
Gas and fuel oils:
Consumption:
Electric power plantsf
thous. of bbL.
1,094
1,101
1,236
1,243
1,134
1,206
1,207
1,193
1,116
1,242
1,346
1,556
r 1, 354
Railways (class I)
do
3,815
3,898
4,199
4,111
3,957
4,033
3,811
4,010
3,640
3,890
3,870
3,999
yessels (bunker)
do
3,207
2,916
2,925
2,587
2,925
3,076
2,969
?,788
2,771
2,904
3.341
3,520
3,343
Price, fuel oil (Oklahoma)
dol. per bbL_
.925
.850
.925
.925
.895
.850
.925
.925
.850
.850
.925
.850
.850
Production:
Residual fuel oil
thous. of bbL.
24, 573 25,197 25, 800 21, 476 25, 040 24,750
23, 547 24, 232 24, 552 25,487
27,022
24, 836
Gas oil and distillate fuels, total
do
12, 691 13, 074 13,820
12,688
12, 793 13, 873 14,135
12, 797 13, 539 13, 301
12, 353
13, 530
' Revised.
tRevised series. Petroleum and products revised for 1937; see table 9, p. 15 of the March 1939 Survey. Beehive and by-product coke production revised for 1937; see
p. 45 of the December 1938 Survey. Gas and fuel oils, consumption in electric power plants, revised for 1938; see p. 45 of the June 1939 Survey.
§Revised series. Data for 1937 revised; see tables 19 and 20, pp. 14 and 15 of the April 1939 Survey.
46
SURVEY OF CURRENT BUSINESS
Monthly statistics through December 1937, together with explanatory notes and references
to the sources of the data may be found in the
1938 Supplement to the Survey
1939
July
September 1939
1939
1938
July
August
September
DecemOctober November
ber
January
February
March.
April
May
June
FUELS AND BYPRODUCTS—Continued
PETROLEUM AND PRODUCTSf— Con.
Refined petroleum products—Continued.
Gas and fuel oils—Continued.
Stocks, end of month:
Residual fuel oil, east of California
thous. of bbl_.
Gas oil and distillate fuels, total
do
Motor fuel:!
Demand, domestic
thous. of b b L .
Production, total
do
Benzol
do
Straight run gasoline
do
Cracked gasoline
do
Natural gasoline
do
Natural gasoline blended
do
Exports
do
Gasoline - 1
Price, wholesale, tank wagon (N. Y.)
dol. per eal
Price, wholesale, refining (Okla.)
do._.
Price, retail, service stations, 50 cities-do
Retail distribution!
mil. of gal _
Stocks, end of month:
Finished gasoline, total
thous. of bbL
At refineries
do...
Natural gasoline
do
Kerosene:
Conqimption, domestic
do.. _
Exports §
do
Price, wholesale, water white 47°, refinery
(Pennsylvania)
dol. per gal.
Production
thous. of bbl.
Stocks, refinery, end of month
do__^
Lubricants:
Consumption, domestic
do... _
Price, wholesale, cylinder, refinery (Pennsylvania)
dol. per gal
Production
thous. of bbl _
Stocks, refinery, end of month
do.._
Asphalt:
Imports§
short tons..
Production
do...
Stocks, refinery, end of month
do_._
Wax:
Production
thous. oflb.
Stocks, refinery, end of month
do_._
.107
.050
753
.051
21,952
21, 731
19, 288
20,115
19, 534
21, 058
21, 397
22,088
22, 480
25, 659
41, 649
48, 026
186
20, 794
22. 701
4, 345
4, 285
4, 607
24, 309
24, 650
37, 767
49,120
185
21,125
23, 546
4, 264
3.637
2,764
34, 595
43, 409
170
18,455
21, 037
3,747
3,229
2,569
42, 520
48. 367
192
20, 663
23, 280
4,232
3,243
3,523
43,977
48, 837
162
20, 922
23, 521
49, 547
51, 384
130
22. 767
24, 207
4,280
2.646
3,915
49,812
50, 861
174
21, 782
24. 810
4.095
2, 682
3,884
.124
. 046
. 133
1, 762
.119
. 043
.134
1,745
.119
.041
.133
1,548
.119
.042
.133
1,427
.118
.045
.133
1,734
.114
.047
.134
1,796
63. 542
38, 739
6, 771
64, 083
39, 376
5, 742
65. 949
41,805
4,830
73,817
49,419
4, 647
79,691
54, 569
4, 708
81,189
55, 464
4,721
81, 623
55,172
5,484
78, 342
52, 076
6,212
74, 395
47, 972
6,749
4,187
797
5,185
646
5, 368
323
5,980
776
5,901
516
5,201
523
5,042
691
4, 368
631
3,570
460
. 052
4. 933
10, 149
.051
5, 348
10,497
5] 320
9, 949
.050
5,419
9, 676
6,813
783
.049
5,739
.049
5. 702
6,711
.052
5,174
5,452
.053
5,900
5.605
.053
5,813
5, 663
.053
5,909
6,551
.053
5,439
7,949
2,127
1, 805
1, 735
1,609
1, 653
1,987
1,770
2, 132
1,902
.105
2, 522
7,951
.105
2, 664
7, 800
.105
2,672
7,886
. 115
2, 856
T
7, 630
.105
2,800
7, 427
32, 285
26, 620
32, 874
28,841
33, 661
30, 860
33, 344
33,017
30,935
32, 069
26,991
27, 873
47, 474
48,913
114
21,020
23,652
4 127
2, 935
3.597
50, 459
50, 071
133
21, 524
24,188
4,226
2, 950
3, 998
46, 058
48, 208
144
20, 934
23, 049
4,081
3,329
3, 068
46, 272
49,789
169
21, 383
23,862
4, 375
4,432
3, 572
44,991
48, 201
181
20, 397
23, 379
4,244
4,222
3,205
.124
. 055
.140
2,088
.124
. 051
.138
1, 909
.124
. 046
.131
1,890
70, 224
43,001
7,614
64,599
40, 137
8,022
63,163
38, 819
8,159
3,752
210
4,292
597
.053
4 889
10,112
127
'. 055
. 141
1,989
4,232
2.983
2,900
.118
.049
. 135
2, 042
.111
.050
. 136
1, 844
2,002
.105
.106
2. 631
8,194
. 105
2, 576
7, 969
.105
2.^15
7, 605
.105
2 632
7'. 718
. 105
2, 535
7,817
1, 726
1.208
475. 800
633,200
2. 844
514,400
566, 400
1.923
456, 300
471,100
1, 649
464. POO
442, 200
3, 461
322, 700
447. 600
3.024
9,662 ' 3, 232 ' 1.521
2,505
2, 078
2.869
242, 400 244. 400 189, 300 308, 200 374,900 477. 800 485. 800
642,
COO
4S0. 900 532, 000 572, 000 650,000 688, 000 672, 000
30. 240
135,911
31,020
131,103
36, 400
129.018
42, 000
128,926
37, 520
131,772
36,120
129,340
1,831
. 105
2, 384
7, 695
.105
2. 527
7, 762
35, 280 33, 320 44.800
128,627 117,711 117,537
35, 000 34, 440 39, 480
119, 301 113,925 111.604
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 lambskins§
do
Livestock (inspected slaughter):
Calves
thous. of animals..
Cattle
do....
Hogs
do
Sheep
do
Prices, wholesale (Chicago):
Packers', heavy, steers
dol. p e r 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, 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
22. 682
2. 685
7,128
5. 236
4,619
14,903
2,144
5,393
4, 795
1,941
16,266
3,175
2,716
5,223
4,341
16, 897
2,133
5,670
5,498
2,282
19, 803
2,116
7,527
4,945
3,641
24,399
3,440
10, 725
6,122
2,685
25, 657
3,972
9.588
6,075
4,468
32, 826
3,563
13,528
6,317
7,901
28,189
2,809
13, 200
6,189
3,975
29,196
2,380
11,771
6,769
4,436
25, 454
2, 505
11,374
5,260
4, 858
27, 026
1,939
10, 388
6, 332
5, 189
22, 563
2,302
8, 034
5, 214
4, 385
417
782
2,778
1, 399
. 115
. 161
436
820
2, 254
1,461
457
848
2,467
1,603
453
917
2,671
1,694
470
884
3,311
1,638
457
858
3,913
1,453
417
758
4,346
1,347
415
761
4,043
1,456
385
653
2,890
1,361
478
774
3,229
1,473
457
677
2,931
1,224
509
814
3.416
1,392
448
778
3,185
1,401
.111
.139
.119
.145
.120
.143
.134
.161
.141
.163
.123
.157
.121
.163
.104
.154
.107
.154
.097
.145
.105
. 156
.110
. 164
3, 669
60
3,738
41
3,709
49
4,651
42
3,420
26
3,689
6
3,097
14
3,492
92
4,197
46
3,585
82
3,816
47
3,640
1,407
2,394
2,308
1, 349
1,764
2, 755
3, 226
1,114
1,717
2,336
2,716
1,100
1,755
2,525
2,822
1,138
1,786
2,634
2,872
1,284
1,882
3,245
2,899
1,319
1,936
3,185
2,899
1,326
1,943
3,170
3,236
1,329
1,955
3,623
3,115
1,168
1,672
3, 463
2,774
1,187
1, 736
3, 473
3,015
1,226
1,718
3,595
3,041
.305
.315
.318
.320
.320
.324
.318
.315
.303
.291
.290
.290
.294
.380
.377
.378
.378
.385
.392
.390
.393
.390
.380
.380
.380
.380
13,331
9,666
3, 665
13,244
9,540
3,704
13.440
9, 665
3,775
13,885
10, 074
3,811
13,996
10, 301
3,695
13,602
9,868
3,734
13,375
9, 699
3,676
13,009
9,229
3,780
12,813
9,026
3,787
12,905
'9, 178
3,827
13, 002
9,180
3,822
53
3,428
1,222
13, 865
10,014
3,851
LEATHER MANUFACTURES
Gloves and mittens:
Production (cut), total
dozen pairs.
150, 480 181,791 173, 882 183, 667 162, 797 135, 759 119,257 153, 409 174,937 148, 420 149, 591 184, 099
Dress and semi-dress
__
. do .
88, 480 111,927
92, 255 112,736 106, 761 115,942 102, 725
93,123 103, 739
81, 850
74, 065
63,177
Work
do...
61,111
72,172
69,055
67, 725
66,570
58, 225
60,072
60, 286
71,198
67,121
61. 694
56,080
r
Revised.
fFor petroleum and petroleum products, see note marked with a " t " on p.45. Retail distribution of gasoline revised for 1937-38; data not shown on p. 46 of the June 1939
Sur vey will appear in a subsequent issue.
1 The gasoline statistics in the above table have been rearranged and data on the production of benzol have been added. With this series included, it is possible to derive
figures or total production of motor fuels, as shown here. Earlier data for benzol production will appear in a subsequent issue.
§Revised series. Data revised for 1937; see tables 19 and 20, pp. 14 and 15 of the April 1939 Survey.
47
SURVEY OF CURRENT BUSINESS
September 1939
Monthly statistics through December 1937, together with explanatory notes and references
to the sources of the data may be found in the
1938 Supplement to the Survey
1938
1939
July
July
August
September
1939
DecemOctober November
ber
January
February
March
April
May
June
LEATHER AND PRODUCTS—Continued
LEATHER MANUFACTURES-Continued
Shoes:
Exports
thous. of pairs..
Prices, wholesale, factory:
Men's black calf blucher
dol. per pair..
Men's black calf oxfordf
do
Women's colored calf
do
Production, boots, shoes, and slippers:
Total
thous. of pairs_.
Athletic
do
All fabric (satin, canvas, etc.)
do
Part fabric and part leather
do
High and low cut, total
do
Boys' and youths'
do
Infants'
do
Misses' and children's
do
Men's
do
Women's
do
Slippers and moccasins for housewear
thous. of pairs..
All other footwear
do
184
136
164
191
200
138
113
108
195
310
223
304
5.75
4.70
3. 00
5.75
'4.70
3.00
5.75
'4.70
3.00
5.75
'4.70
3.00
5.75
'4.70
3.00
5.75
'4.70
3.00
5.75
'4.70
3.00
5.75
'4.70
3.00
5.75
'4.70
3.00
5.75
'4.70
3.00
5.75
'4.70
3.00
5.75
'4.70
3.00
5.75
'4.70
3.00
33, 489
268
256
380
28, 668
1,456
1, 826
3,377
7, 628
14, 381
30, 742
187
314
202
26,546
1,426
1,576
3,314
7,027
13, 204
42, 252
295
291
405
36, 247
1,958
1,845
4,090
10, 067
18, 287
38,280
263
319
331
31,987
1,803
1,818
3,859
9, 568
14,940
35,012
282
303
315
27, 799
1,638
1,878
3,583
9,250
11,451
30, 054
304
305
354
22, 556
1,553
1,886
3,132
8, 691
7,295
29,988
331
355
476
24,359
1,426
1,775
3,399
8, 403
9,355
33,561
260
457
652
30,149
1, 414
1,987
3,740
8,876
14,132
35, 457
237
530
778
31, 400
1,302
1,940
3,711
8,645
15, 801
42, 375
281
760
832
37,132
1,545
2,256
4,505
9,930
18, 894
32, 578
275
591
641
27, 842
1,407
1,951
3,122
7,680
13,683
32, 222
307
526
355
27. 161
1,404
1, 825
3. 435
7,739
12,757
•31,776
295
'454
'291
" 26, 326
1, 390
1,971
' 3, 579
' 7,888
•11,498
3, 594
323
3,108
384
4,692
322
5,115
264
6,078
236
6,422
114
4,297
170
1,695
348
1,983
530
2, 651
721
24,464
765
3, 002
871
' 3, 702
'708
LUMBER AND MANUFACTURES
LUMBER—ALL TYPES
Exports, total saw mill products*
M bd. ft. 115,264
Sawed timber *
do
19, 698
92. 051
Boards, planks, scantlings, etc
do
53, 021
Imports, total saw mill products*
do
National Lumber Mfrs. Assn.:
Production, total
mil. bd. ft_. 1,938
272
Hardwoods
do
1.6C6
Softwoods. _ do
1,959
Shipments, total
do
324
Hardwoods
do
1,635
Softwoods. -_
do
7,979
Stocks, gross, end of month, total
do
1,844
Hardwoods
do
Softwoods
do
6,135
77,923
13,066
64, 857
36, 629
69, 217
6, 960
62, 257
49,128
76, 825
8,827
67,998
58,022
78,184
10,077
68,107
60,977
66,934
10, 205
56, 729
50, 232
93, 247
13, 289
79,958
46,884
70, 652
10, 633
57, 969
49, 521
70, 727
10,879
59,228
47, 803
92,980
21, 766
65, 505
62, 591
82, 956
16, 586
61, 726
58, 292
98, 932
18.819
73, 430
48, 941
112, 130
17,984
89, 254
54, 692
1,606
204
1, 402
1, 775
267
1,508
8,511
2, 259
6,252
1,998
222
1,776
2,033
283
1,750
8,481
2,200
6,281
1,901
237
1,664
1,843
293
1,550
8, 560
2,155
6, 405
1,790
239
1, 552
1,847
295
1,552
8,506
2,099
6,407
1,675
246
1,429
1,789
311
1,478
8,442
2,058
6,384
1,505
233
1,271
1,593
263
1,330
8,373
2,069
6,304
1,582
295
1,287
1,662
308
1,355
8,309
2,055
6, 254
1,493
293
1,200
1,581
282
1,300
8,209
2,061
6,148
1,808
302
1,506
1,995
1,667
8,038
2.021
6,017
1,771
266
1, 505
1, 828
307
1,521
7,997
1,984
6,013
2,132
271
1. 861
2,117
307
1,810
8, 024
1, 048
6, 075
2, 036
270
], 766
2,061
328
1,733
8, 006
1,896
6, 310
FLOORING
Maple, beech, and birch:
Orders, newt
Orders, unfilled, end of month
Production
Shipments
Stocks, end of month
Oak:
Orders, new
Orders, unfilled, end of month
Production
Shipments
Stocks, end of month
M bd. ft..
do
do
do
do
8,100
11,900
6, 200
8, 300
16, 600
7,900
9,600
5,400
6,400
20,000
7, 450
9,850
7,000
7,250
19,950
5,400
8,800
6,300
5,950
20,350
7,000
10, 600
5,400
5,200
21,000
6,200
11,200
6,100
5,500
21,600
6,500
13,000
6,200
4,900
23,350
7,450
14, 700
6,000
5,900
23,800
5,400
15, 200
5, 580
4,850
24,350
6,550
14,000
5,300
7,400
22, 600
8,100
14,000
5,600
7, 200
21,000
7, 550
14. 200
5, 650
7, 600
18, 850
6, 850
12, 400
7, 400
8, 200
18, 400
do
do
do
do
do
36, 713
39, 523
34,126
36, 985
76, 165
58, 516
59,906
30, 762
35,989
78,663
36,943
55, 338
42, 468
41,511
79, 620
26, 575
47,416
39,035
34, 497
84,158
41,133
56,393
36,188
32,156
88,190
30, 891
55, 724
35,139
31, 560
91, 769
26,659
52, 697
31, 720
27, 686
94,181
36,868
60,649
28, 463
26,916
95, 228
26,910
56, 482
27, 640
27, 308
94,730
28,144
51,675
29,639
31,951
92,445
26,128
47,199
28,565
30, 604
87,191
32, 937
41,137
35. 447
37, 999
83, 635
36,
39,
34,
37,
79,
058
793
268
401
503
SOFTWOODS
Fir, Douglas:
45, 028
36, 570
Exports, total saw mill products*._M bd. ft__ 48, 105 26, 847 16, 250 20, 077 24, 606 18, 569 30, 008 24, 554 25, 972 34, 545 29,486
10, 992
12, 193
Sawed timber
do
11,507
5. 929
14, 950
11, 485
8, 636
2,222
4. 365
5.322
4, 061
5, 696
0,015
34, 036
24,377
Boards, planks, scantlings, etc
do
36, 598
18, 625
18, 211
15,712
19, 595
14, 028
19, 284
13, 608
20, 276
18, 001
21,083
Prices, wholesale:
18. 620
18. 620
No. 1. common boards,, dol. per M bd. ft.. 18. 620
18. 620
18.008
18. 424
18. 620
18. 620
17. 640
17.640
17.640
Flooring, 1 x 4 , " B " and better, V. G.
36. 505
35. 280
37. 240
dol. pvT M bd. ft.
35. 280
35. 770
36. 260
35. 280
36.000
34. 300
36. 260
35. 280
35. 770
35. 280
Southern pine:
23, 476
24, 740
Exports, total saw mill products*_M. bd. ft.. 30, 028 23, 332 26, 156 25, 479 26, 460 22,166
25, 314
20,857
26, 925
18, 496
19, 609
Sawed timber
do
4,245
4,326
4,197
6,168
6, 668
7,916
6,706
4,954
4,012
4,709
4,632
4, 527
5,190
Boards, planks, scantlings, etc
do
19,087
18, 572
16, 808
21, 282
15, 283
22,112
18,608
15,903
22,913
13, 787
21, 524
21,933
16. 976
Orders, newt
mil. bd. ft._
724
608
614
612
557
569
604
558
473
491
622
710
539
Orders, unfilled, end of month
do
346
347
343
296
330
341
343
360
307
327
304
364
323
Price, wholesale, flooring, .dol. per M bd. ft_. 39. 38
40. 30
39.00
41.46
40. 76
40.78
40.30
30 07
41.01
39. 86
41.41
41.22
42.09
Productionf
mil. bd. ft..
614
578
639
570
571
540
570
548
508
495
630
578
530
622
613
Shipmentsf
do
620
575
667
534
588
541
489
494
661
64?
580
2, 091
2,056
Stocks, end of month
do
2,052
2, 201
2,189
2,100
2, 002
2, 099
2, 094
2,101
2,170
2,125
2,075
Western pine:
444
401
432
Orders, new
do
248
367
442
391
313
333
386
279
399
347
233
253
236
Orders, unfilled, end of month
do
201
255
253
283
247
213
211
267
ISO
276
Price, wholesale, Ponderosa pine, 1 x 8, no. 2,
25. 08
24. 90
24. 81
25.13
common (f. o. b. mills) ._dbl. per M bd. ft.. 25.42
21.32
22.17
22.04
22. 92
25.24
22.49
24.30
21.91
520
498
349
Productionf
rail.
bd. ft..
484
432
238
153
488
305
181
233
536
430
428
405
418
374
322
339
411
388
335
267
316
475
299
Shipments t
do
1,888
1,802
1,943
2, 014
1, 709
Stocks, end of montht
do
1,C99
2, J09
2,104
2.037
2,139
1,782
West Coast woods:^
572
660
524
513
Orders, new
do
547
602
411
451
445
426
444
555
537
437
402
381
376
487
Orders, unfilled, end of month
do
361
388
383
373
2S2
264
324
334
522
609
477
354
482
Production
do
416
446
434
471
518
563
466
578
535
634
487
509
413
414
413
431
471
495
612
Shipments
do
584
463
950
955
946
970
1,021
1,024
895
935
986
982
Stocks, end of month
do
905
920
r
IData for August and November 1938 and March and May 1939 are for 5 weeks: other months, 4 weeks.
Revised.
*New series. For the new series on total lumber exports and imports, data for earlier years not shown on p. 47 of the August 1939 Survey will appear in a subsequent
issue. For Douglas fir and southern pine, the new series on total exports represent a total of the items regularly shown. Note that the more definitive title "boards, planks,
and scantlings, etc." has been substituted for "lumber."
tRevised serifs. Production, shipments, and new orders of southern pine lumber for 1937-38 and production, shipments and stocks of western pine, 1937-?Q. have been
adjusted to the 1037 Censu> of Manufactures; data for southern pine not shown on p. «7 of the February 1930 issue, and for western pine not shown on p. 47 of the March
19'*0 issue, win appear in a subsequent issue of the Survey. These revisions have not been carried into the totals shown on this page under the heading "Lumber—All Types."
Revisions for the latter series, embodying certain changes in addition to those occasioned by the adjustment of the southern pine and western pine figures, will be shown
when available. Wholesale prices of men's black calf oxfords revised because of style change. Price of slightly different type of shoe substituted beginning January 1938.
Revised data for 1938 not shown above are: January-March, 4.80; April, 4.78; May-June, 4.70.
48
SURVEY OF CURRENT BUSINESS
Monthly statistics through December 1937, together with explanatory notes and references
to the sources of the data may be found in the
1938 Supplement to the Survey
1939
July
September 1939
1939
1938
July
August
September
DecemOctober November
ber
January
February
March
April
May
June
LUMBER AND MANUFACTURES—Continued
SOFTWOODS-Continued
Redwood, California:
Orders, new
Orders, unfilled, end of month
Production
Shipments
Stocks, end of month
M bd. ft.
do...
do...
do...
do._.
218
599
229
885
243
23,409
23, 322
34,838
28,026
296,177
25, 350
25,111
30. 722
24, 427
299,367
25, 939
24, 694
33,106
25,028
304,859
22,134
25.310
27, 284
19,961
313,047
34, 270
34, 562
25,261
23, 811
309. 310
20, 875
30,647
26, 272
24, 243
307,494
32, 098
32. 485
28,585
30, 822
300, 378
26,387
29,676
27.930
28.096
298, 052
26, 846
28,181
31,614
27,806
299,887
24,498
24, 563
28, 262
27,469
295, 551
47.0
53.0
58.0
60.0
57.0
58.0
56.0
56.0
57.0
53.0
53.0
50.0
4.0
16
30
50.0
13
5.0
21
26
46.0
12
3.5
21
27
50.0
16
4.0
20
23
55.0
18
5.0
20
20
60.0
16
6.0
19
18
61.0
15
7.0
12
13
62.0
13
4.0
19
21
58.0
12
5.0
14
19
53.0
13
5.0
14
16
53.0
15
6.0
10
13
42.0
12
7.0
11
13
47.0
11
2.0
25
28
47.0
13
77.6
102.3
88.1
87,2
80.3
102.3
87.6
87.2
80.3
102.3
87.6
87.2
80.4
102.3
87.6
87.2
80.4
102.3
87.6
87.2
79.3
102.3
87.6
87.2
77.6
102.3
87.6
87.2
77.6
102.3
88.1
87.2
77.6
102.3
88.1
87.2
77.6
102.3
88.1
87.2
77.6
102.3
88.1
87.2
77.6
102.3
88.1
87.2
77.6
102.3
88.1
87.2
23,168
28, 377
25, 421
23,497
296, 426
26,978
25. 116
26. 665
23. 333
282, 291
51.0
29,
26.
34,
27,
287,
FUBNITURE
All districts:
Plant operations
percent of normalGrand Rapids district:
Orders:
Canceled.-.
..percent of new orders_
New
no. of days' production.
Unfilled, end of month
do...
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).
METALS AND MANUFACTURES
IRON AND STEEL
Foreign trade:
Exports (domestic) total§
longtons.. 513, 664
350,066
Scrap
do.
30, 851
Imports, total§
do.
3,335
Scrap
do.
Price, wholesale, iron and steel, composite
35.82
dol. per long ton._
Ore
Iron ore:
Lake Superior district:
Consumption by furnaces
3,143
thous. of long tons.6,310
Shipments from upper lake ports
do..
28, 507
Stocks, end of month, total
do._
24,196
At furnaces
do..
4,311
Lake Erie docks
do._
222
Imports, total§
do..
Manganese ore, imports (manganese content) _
24
thous. of long tons..
263, 699
126,423
14, 728
634
242,139
108, 029
20,041
1,637
346, 068
149, 673
27,958
4,218
425,421
223,954
26, 445
5,524
469,596
273,440
27, 627
4,749
490,095
323, 691
28, 767
6,519
362, 672
227,884
27, 664
3,333
359, 690
224, 913
19,149
1,413
474, 360
312, 262
25, 369
780
394,008
240,124
44,083
2,769
532, 641
384, 881
28,142
3,971
588. 856
398, 888
32, 587
2,537
36.32
36.50
36.48
36.48
36.39
36.37
36.36
36.37
36.40
36.34
35.80
35.69
1,675
3,268
35,846
30, 656
5,190
206
2,077
3,326
37, 050
31, 759
5,292
172
2,314
3,285
37,874
32, 516
5,358
188
2,781
3,624
38, 594
33,173
5,421
226
3,150
1,481
37, 456
32,166
5,290
3,041
0
34, 579
29,456
5,123
187
2,927
0
31, 689
26, 646
5,043
180
2,853
0
28, 840
23, 912
4,928
179
3,317
0
25,872
21,054
4,818
203
2,800
57
22, 791
18, 306
4,485
162
2,246
3,601
23, 071
18, 835
4,236
217
2,830
5,573
25, 861
21,610
4,251
189
21
31
35
15
26
30
10
21
11
17
15
29,892
28, 836
35.3
26,169
16,905
16, 630
20.2
17, 500
25, 752
25, 799
31.3
21,102
29, 061
29, 460
34.8
26, 941
32, 770
29, 970
36.4
28, 717
36, 643
35,351
43.0
35, 563
35, 633
38, 802
46.0
36, 434
38,105
35, 372
43.5
36, 403
33, 234
34, 786
42.9
34, 698
35, 997
39, 615
47.5
39, 807
29,183
31, 640
38.8
33, 666
27, 702
30,840
37.8
32, 657
29, 041
30, 781
37.0
32, 566
79,450
129
41, 400
77
51,370
57, 625
70, 690
115
75, 795
121
71,315
117
70, 235
118
74, 285
121
77, 460
123
60,160
102
60, 515
107
72,'
20.50
21.15
19.50
20.15
19.50
20.15
19.75
20.29
20.50
21.14
20.50
21.15
20.50
21.15
20. 50
21.15
20.50
21.15
20.50
21.15
20.50
21.15
20.50
21.15
20.50
21.15
22.89
2,356
21.89
1,202
21.89
1,494
22.14
1,680
22.89
2,052
22.89
2,270
22.89
2,211
22.89
2,175
22.89
2,060
22.89
2,395
22.89
2,056
22.89
1,718
22.89
2,118
1,387
1,749
19,056
2,135
2,015
20, 677
2,277
2,287
20, 619
2,391
4,078
18, 925
3, 561
4,803
17,701
2,233
3,083
16,877
1,338
2,182
16,114
1,573
1,642
15,986
1,807
1,376
16,491
2,198
1,113
17, 579
1,916
1,203
18,301
1,930
1,051
19,084
1,950
1,427
19,421
15, 284
16,807
124, 581
14, 681
17,841
122,860
20, 367
17,804
125,446
25, 336
30, 852
119,841
22, 851
34,108
108, 445
15, 388
20, 027
104, 021
10,128
15, 081
98, 831
12, 881
12, 276
99,128
13, 801
9,246
104,303
19, 960
10, 406
114, 878
15,339
9,448
119,839
16, 429
11, 744
124,462
16,194
14, 577
126,130
Pig Iron and Iron Manufactures
Castings, malleable:
Orders, new
short tons..
Production
do
Percent of capacity
Shipments
short tons. _
Pig iron:
Furnaces in blast, end of month:
Capacity
long tons per day
Number
Prices, wholesale:
Basic (valley furnace)
dol. per long ton
Composite
do
Foundry, No. 2, northern (Pitts.)
dol. per long ton..
Production
thous. of long tons.Cast-iron boilers and radiators:
Boilers, round:
Production
thous. of lb_.
Shipments
do
Stocks, end of month
do
Boilers, square:
Production
do
Shipments
do
Stocks, end of month
do
Radiators:
Convection type:
Sales, incl. heating elements, cabinets,
and grilles.thous. sq. ft. heating surface..
Ordinary type:
Production
do
Shipments
do
Stocks, end of month
do
Boilers, range, galvanized:
Orders:
New
number of boilers...
Unfilled, end of month, total
do
Production
do
Shipments
do
Stocks, end of month
do
811
656
703
498
442
305
340
476
556
729
4,187
5,280
33,902
4,958
5,219
26, 216
6,023
5,214
27, 098
7,199
6,387
28,003
6,907
7,679
27, 268
4,765
5,697
26, 394
3,955
4,815
25, 624
4,896
3,814
28, 279
4,711
2,950
30,800
5,593
2,887
33, 612
4,350
3,103
34, 875
4,276
4,207
34,963
4,655
4,730
34, 975
54,022
19,671
47,494
50, 596
28, 370
50, 377
14, 279
51,900
52, 251
30, 903
57, 721
15,414
56, 595
56, 586
30,912
68,337
18, 016
65, 622
65, 735
30, 799
108, 427
46,882
77, 563
79, 561
28, 677
70, 862
37,170
83, 716
80, 574
31, 819
47, 882
20, 626
70, 232
64,426
37, 625
61,003
15, 026
64, 094
66, 603
35, 317
50,876
12,604
56, 476
53, 298
38, 495
57,928
10,145
60, 421
60, 387
38, 463
69,
19,
53,
60,
31,
772
442
454
475
442
68,191
20, 638
67, 610
66, 995
32, 057
59,277
16, 245
62,996
• 63, 670
31,472
38,342
34.2
14,749
36,130
32.3
11,282
42, 024
37.5
12, 606
38,928
34.8
12,804
30, 360
27.1
6,848
36, 471
32.6
10, 060
41, 367
36.9
11,125
40, 219
35.9
10,173
34,100
30.4
9,655
35, 944
32.1
9,751
41, 660
37.2
12,621
41, 359
36.9
12, 506
37, 774
33.7
11,872
40, 272
36.0
11,060
614
Steel, Crude and Semimanufactured
Castings, steel:
36, 641
24, 814
Orders, new, total
short tons.. 34,804
25, 565
25,418
30, 428
31.1
32.7
22.2
Percent of capacity
22.8
22.7
27.2
16, 589
4,411
7,721
5,462
4,127
Railway specialties
.short tons_.
7,128
22, 988
34,168
36, 454
28,109
Production, total
do
28, 478
29, 994
20.5
32.5
25.1
30.5
25.4
26.8
Percent of capacity
6,111
12, 983
8,353
5,986
7,207
short tons..
Railway specialties
r
Revised.
http://fraser.stlouisfed.org/
§ Revised series. Data revised for 1937; see tables 19 and 20, pp. 14-15 of the April 1939 issue.
Federal Reserve Bank of St. Louis
49
SURVEY OF CURRENT BUSINESS
September 1939
Monthly statistics through December 1937, together with explanatory notes and references
to the sources of the data may be found in the
1938 Supplement to the Survey
1939
July
1939
1938
July
August
September
DecemOctober November
ber
January
February
March
April
May
June
METALS AND MANUFACTURES—Continued
IRON AND STEEL-Continued
Steel, Crude and Semimanufactured—
Continued
Ingots, steel:
Production
thous. of long tons..
Percent of capacity
Bars, steel, cold-finished, carbon, shipments
short tons..
Prices, wholesale:
Composite, finished steel
dol. per lb._
Steel billets, rerolling (Pittsburgh)
dol. per long ton..
Structural steel (Pittsburgh)
dol. per lb_.
Steel scrap (Chicago)
dol. per gross ton.
U. S. Steel Corporation:
Earnings, net
thous. of dol
Shipments, finished steel products
thous. of long tons_.
3,289
57
1,974
35
2,537
41
2,647
44
3,106
3,558
60
3,131
53
' 3,174
'53
r 2,989
54
r 3, 405 ' 2,974
52
55
37, 673
36, 315
39,648
38, 571
42,808
36, 287
34, 287
35, 615
.0268
.0268
.0268
.0268
.0268
.0268
.0264
. 0262
34.00
.0120
14.20
34.00
.0210
13.75
34.00
.0210
13.85
34.00
.0210
14.06
34.00
.0210
14.25
34.00
.0210
13.38
34.00
.0210
12.80
34.00
.0210
13.56
789
678
r 2, 923 r 3,125
47
53
52
32, 809
18,166
28, 327
30,903
.0268
.0268
34.00
.0210
13.50
35,106
.0261
34.00
.0210
13.56
34.00
.0210
12.00
34.00
.0210
13.75
676
442
559
.0266
34.00
.0210
12.88
10,026
578
19, 792
663
694
15,881
15,8
733
Steel, Manufactured Products
Barrels and drums, steel, heavy type:
Orders, unfilled, end of month
number.. 235, 772 361, 750 378, 675 445, 310 374,454 248, 376 519, 375 438, 746 421,037 351,203 277,719 257, 961 208, 000
719, 055 629, 448 766, 374 783, 592 841,653 788,040 830,979 749,070 552,189 709, 252 800, 292 814,298 833, 378
Production
do.
52.3
52.3
45. 1
Percent of capacity
39.1
48.7
49.0
35.0
50.1
47.6
51.7
51.1
47.5
44.4
Shipments
number. _ 725, 669 622,155 771, 283 759,188 865, 572 799, 678 822, 746 746,510 556,069 710, 228 799,404 812, 843 822, 658
33, 025 41, 287 35, 756 60,160
36, 241 24, 603 32,696
Stocks, end of month
do
30,498
31,867 42, 587
34, 717 30, 586 29,610
Boilers, steel, new orders:
1, 032
772
717
Area
thous. of sq. ft..
783
635
892
817
765
877
617
691
579
1,131
Quantity
number..
1,033
1,124
1,125
1,264
892
834
1,098
1,063
1,012
983
947
660
Furniture, steel:
Office furniture:
Orders:
1,902
1,737
1,650
New
thous. of dol...
1,554
1,813
1,782
1,619
1,538
1,630
1,852
1,966
1,798
1, 780
1,207
1,382
958
Unfilled, end of month
do.
1,202
1,026
1,064
1,132
1,140
952
1,016
1,052
1,063
977
1,714
1,567
1,718
1,716
Shipments
___do.
1,667
1,813
1,886
1,480
1,707
1,982
1,775
1,707
1,677
Shelving:
Orders:
400
411
318
New
do.
399
499
••420
321
368
335
315
507
358
362
Unfilled, end of month
do.
292
386
255
387
317
••360
302
292
205
253
327
342
Shipments
do_
360
442
447
349
474
'451
247
378
317
357
318
Plate, fabricated steel, new orders:•
Total
short tons.. 31, 364 27,773
33,95$
22,069
34,036
18, 551 21, 793 20, 213 28, 218 20, 511 22,903 29, 784 35,844
Oil storage tanks
do
13, 481
5,379
15, 382
3,646
3,623
3,629
5,950
7,401
5,429
7,723
4,081
10,976
8,188
Plumbing and heating equipment, wholesale
price (8 items)
dollars. 234. 71 235. 42 235.03
233.88
234.01
233.97
233.97
234.64 234.82 234. 82
233.99
Porcelain enameled products, shipments 1
796
826
626
749
736
645
771
853
851
thous. of doL.
951
675
610
164
183
184
149
Spring washers, shipments
do
123
137
186
180
171
185
215
84
177
Steel products, production for sale (quarterly):
595
434
672
Merchant bars
thous. of long tons.
616
620
564
595
Pipe and tube
_
.do
611
505
384
491
Plates
do...
452
386
293
Rails
do
116
105
1,492
Sheets, total
do___
1,654
1,131
1,812
52.7
Percent of capacity .
43.1
60.1
69.0
Strip:
110
Cold rolled
thous. of long tons.
125
160
210
Hot rolled
do_._
214
243
384
474
Structural shapes, heavy
do
367
459
395
556
Tin plate
do_~~
331
422
374
650
Wire and wire products..
do
528
674
617
6, 832
Track work, shipments
short tons..
2,686
6,481
2,840
5,330
6,819
2,395
3,036
2,514
2,909
4,250
6,658
NONFERROUS METALS AND
PRODUCTS
Metals
Aluminum:
Imports, bauxite§
long tons.. 44, 805 34,446
18, 855 36, 204 26, 795
38, 288 51, 027 43,629
33, 737 41,060
33, 660 35, 397 40,309
Price, wholesale, scrap, castings (N. Y.)
dol. perlb_.
.0688
. 0688
.0813
.0703
.0736
.0713
.0663
.0813
.0808
.0800
.0750
.0713
Babbitt metal (white-base antifriction bearing
metals):
Consumption and shipments, total
1,602
1, 749
1,613
thous. of lb._
1,474
1,366
1,380
1,305
1,783
1,538
1,460
1,725
1, 596
1,606
611
Consumed in own plants
do
517
509
338
425
453
531
468
597
508
648
359
644
Shipments
do. _.
1,137
1.096
857
1,021
1,042
1, 252
1,177
837
1,030
1,101
1,080
Copper:
Exports, refined and manufactures!
short tons.
35,168
27, 364 28,162 36, 303 39, 350
42, 369 36, 984 40, 441 40,915
31, 285 40, 741 25, 503 23,807
21,123
Imports, total §
do...
19, 040 23, 248
22,166
12, 976 13,192
10,439
22,132
19, 365 20,651
16,154
18, 551 11,634
21,992
18, 646 19, 549 11. 673 12,402
For smelting, refining, and export §.__ do...
10, 509 18, 450 19, 728 18,128
15, 568 21, 731 18,076
Product of Cuba and Philippine Islands
184
9
135
91
42
77
172
180
105
2,001
146
156
100
short tons
2, 342
1, 072
903
742
616
954
700
413
979
810
1,260
244
374
Allother§
_
do...
Price, wholesale, electrolytic (N. Y.)
.0978
.0983
.0998
.1027
.0959
.1003
.1103
.0990
.1103
.1103
.1103
.1103
.1076
dol. per lb.
Production:
Mine or smelter (inch custom intake)
54, 532 31,155 44, 558 49, 316
61,752
60,707
62, 548 58, 600 r 59, 672
73, 205 72, 709 69,170
short tons
57, 339 35, 596 38,053 45, 808 56, 824 66, 846 68, 071 66, 316 59, 452 66, 718 58,368
68, 536 61,719
Refinery
do
75, 808 54. 597 62, 832 67,919
47, 804 54. 827 51, 577 55. 025 46. 667 63, 894 63, 862
82,
605
64,
657
Deliveries, refined, total
do...
53, 573
59, 681 41, 249 48,071
53, 637 69, 827 51, 397 38, 977 51,059
48, 267 50, 803 42. 484 51,225
Domestic
do.I"
16,127 13, 348 14,761
12, 669 10, 289
14, 282 12,778
3.310
4383
8,827
4,222
3,768
13,260
Export
do
316, 543 339,970 315,191 293,080 267, 299
309.119 320, 812 332, 513 337,155 335, 012
289,
755
301,
244
Stocks, refined, end of month
do
Lead:
Imports, total, except manufactures (lead con5,179
4,034
4,241
3,864
4,476
4,443
4,482
11,998 15, 485 13, 257 16, 593 10, 961
tent) §
short tons
Ore:
32,
300
31,268
25, 269 25, 941 27, 605 28,193
34, 716 35, 885 37, 654 31, 593 31, 748 30, 614 33,589
Receipts, lead content of domestic ore .do
4,152
3,679
4,537
6,314
4,396
4,330
3,744
6,052
9,695
3,264
3,576
5,113
3,911
Shipments,
Joplin
district!
do
r
Revised.
•Data are for 46 identical manufacturers; beginning January 1938 data are available from the reports of the Bureau of the Census for 26 additional small establishments.
^As reported by 21 manufacturers through December 1938; subsequently, 2 of these ceased operations. For 1937 and 1938. data are available from the reports of the Bureau
of the Census for 34 additional establishments, and, beginning January 1939, for 80 additional establishments.
JData for July, October, and December 1938, April and July 1939 are for 5 weeks; other months, 4 weeks.
§Revised series. Data revised for 1937; see tables 19 and 20 pp. 14 and 15 of the April 1939 Survey.
50
SURVEY OF CURRENT BUSINESS
Monthly statistics through December 1937, together with explanatory notes and references
to the sources of the data may be found in the
1938 Supplement to the Survey
1938
1939
July
September 1939
July
August
September
1939
October Novem- December
ber
January
February
March
0. 0482 0.0478
37,790
36, 704
40,871
37,903
122, 035 123, 394
April
May
June
0. 0475
43, 026
40,124
129, 270
0. 0480
37, 237
• 38, 710
• 129,636
METALS AND MANUFACTURES—Continued
NONFERROUS METALS AND
PRODUCTS-Continued
Metals—C ontinued
Lead—Continued.
Refined:
Price, wholesale, pig, desilverized (N. Y.)
dol. p e r l b . . 0. 0485
Production from domestic ore_ _short tons.. 34,926
42, 636
Shipments (reported)
do
124, 017
Stocks, end of month
do
Tin:
Consumption of primary tin in manufactures
5,140
long tons,.
5,275
Deliveries
do
6,179
Imports, bars, blocks, etc
do
.4852
Price, wholesale, Straits (N. Y.)--dol. per lb__
Visible supply, world, end of month, long tons.. 29, 625
5,339
United States
do
Zinc:
Ore, Joplin districts:
Shipments
short tons. _ 33, 990
7,601
Stocks, end of month
do
Price, wholesale, prime, western (St. L.)
.0452
dol. per Reproduction, slab, at primary smelters
short tons.. 39,669
Retorts in operation, end of mo
number.. 35, 491
Shipments, total
short t o n s . . 43,128
131, 782
Stocks, refinery, end of mo
do.
0.0488
27,976
40,409
155,631
0. 0490
23, 723
38,343
142,868
0.0500
24,994
39, 026
131, 353
0.0510
27,968
45, 726
117,476
0.0509
35,958
42, 005
115,134
33,908
115,902
0.0483
38,299
40,189
117, 214
0.0481
36,391
34,421
122,112
3,930
3,775
3,583
.4337
31, 097
4,071
4,100
3,775
4,880
.4326
32, 251
5,232
3,770
4,465
3,895
.4338
32, 476
4,573
4,060
4,960
4,643
.4522
3], 539
4,500
4,160
3,535
4,448
.4623
30, 598
5,060
4,330
3,400
3,555
.4618
30, 554
5,157
4,230
4,330
3,971
.4638
34, 240
4,624
4,410
4,105
5,097
.4562
35, 245
5,486
5,270
4,755
5,208
.4621
33,890
5,806
5,190
5,980
3,814
.4720
33,873
3,385
5,920
5,905
5,118
.4902
30, 866
3,387
5,780
4,925
6,020
.4885
30, 055
4,388
28, 065
25, 292
38, 014
13,149
31,894
14,895
39,014
18, 745
34,827
17, 299
42, 237
12, 251
27,452
12, 301
33, 220
8,400
28, 330
10, 503
37, 908
9,294
32,126
7,498
31,077
6,749
0.0484
.0475
.0475
.0485
.0501
.0492
.0450
.0450
.0450
.0450
.0450
.0450
. 0450
30, 362
25, 596
33,825
146, 208
32, 296
29, 767
36, 507
141,997
32, 328
31, 555
43, 582
130, 743
36, 740
32, 427
43, 355
124,128
40, 343
36, 243
43, 693
120, 778
45, 345
38, 793
39, 354
126, 769
44, 277
39, 500
42, 639
128,407
39, 613
39, 459
39,828
128,192
45, 084
38, 251
45, 291
127,985
43, 036
38, 763
40, 641
130, 380
42, 302
36, 331
39, 607
133, 075
39, 450
36, 291
37, 284
135, 241
3,936
17, 466
5,018
14, 237
4,487
16, 267
5,159
17, 019
4,759
13, 740
4,347
11,463
4,926
9,240
4,662
8,161
5,818
14, 571
4,657
14,037
4,543
12, 688
5, 026
11, 065
1, 373
1,538
1,382
1,446
1,359
1,218
1,391
1,419
1,505
1,330
1,554
1,577
Miscellaneous Products
Brass and bronze (ingots and billets):
Deliveries
short tons..
Orders, unfilled, end of month
do
Plumbing fixtures, brass, shipments
thous. of pieces,.
Radiators, convection type, sales:
Heating elements only, without cabinets or
grilles
thous. of sq. ft. heating surface
Including heating elements, cabinets, and
grilles
thous. of sq. ft. heating surface-.
Sheets, brass, wholesale price, mill.dol. per lb_.
Wire cloth (brass, bronze, and alloy):
Orders, new
thous. of sq. ft..
Orders, unfilled, end of month
do
Shipments
do
Stocks, end of month
do
MACHINERY AND APPARATUS
Air-conditioning systems and equipment:
Orders, new:
Totalf
thous. of d o L .
Air-conditioning group
do
Fan-groupf.
do
Unit-heater group
do
Electric overhead cranes:
Orders:
New
do
Unfilled, end of month
do
S h ipments
do
Exports, machinery. (See Foreign trade.)
Foundry equipment:
Orders:
New
1922-24 = 100..
Unfilled, end of month
do
Shipments
do
Fuel equipment:
Oil burners:
Orders:
New
number..
Unfilled, end of month
do
Shipments
do
Stocks, end of month
do
Pulverizers, orders, new
do
Mechanical stokers, sales:
Classes 1, 2, and 3
do
Classes 4 and 5:
Number
Horsepower
Machine tools, orders, new
av. mo. shipments 1926=100-.
P u m p s and water systems, domestic, shipments:
Pitcher, other hand, and windmill p u m p s
units..
Power pumps, horizontal t y p e
do
"Water systems, incl. p u m p s
do
Pumps, measuring and dispensing, shipments:
Gasoline:
Hand-operated
units..
Power
do
Oil, grease, and other:
Hand-operated
do —
Power
do—
5,035
14, 625
138
72
60
65
58
109
37
47
62
657
.167
417
.164
565
.168
495
.168
494
.173
570
.175
491
.174
410
.173
418
.173
497
.173
546
.170
717
.165
814
.165
468
823
392
624
363
657
322
611
470
712
407
590
538
712
439
511
497
385
505
419
780
458
446
360
752
392
450
505
868
388
478
352
805
404
504
484
853
427
532
347
768
422
549
481
830
413
560
366
750
444
582
3, 096
1,484
1. 135
477
3, 079
1,293
1,144
642
3,019
1,270
941
3, 352
1,228
899
1, 225
2,885
819
837
1,228
3,211
1,112
871
1,228
3,349
1,747
812
790
2,889
1,446
821
622
4,754
2,845
1,073
4,528
3,015
955
558
4,901
3, 115
1,318
468
5, 406
3,377
1, 509
521
383
1, 917
280
156
1,246
498
144
1,147
243
113
1,017
243
171
1, 0S0
10S
179
1,052
207
377
1,171
257
168
1,173
166
201
,131
244
284
993
270
823
, 504
312
438
1, 755
274
1,813
215
114.0
135. 6
135. 5
75.3
108. 6
105. 8
83.4
102.8
89.1
78.7
97.3
84.2
91.8
93.4
89.7
87.0
94.5
141.9
126.0
102.8
122.5
151.4
96.3
135.5
175.1
112.2
146.6
193.6
128.1
146.2
208.6
131.0
108.9
173. 1
144.3
134.9
159. 2
148.5
17,838
6, 952
17, 337
18,851
11
11,121
3,139
10, 689
27,096
18
15,622
3,388
15, 373
26, 638
18
26, 403
3, 386
26, 405
23, 705
20,346
2, 673
21,059
22,556
11,409
2. 564
11,518
21,421
12
8, 435
2,155
8,824
21, 326
19
9,616
3,033
8, 738
21, 885
16
7,981
3,340
7,674
22, 850
10
11,806
4,475
10, 671
21, 790
33
11,346
5,181
10, 640
21, 619
15, 284
5, 456
15, 009
20,214
23
17,901
6,451
16, 906
19,947
20
9,246
8,825
12, 555
20,126
17,339
7,689
4,752
3,398
2,375
3,669
3,427
5, 023
7, 599
279
56,419
236
42, 265
304
44,190
326
45, 030
342
59, 920
228
34, 533
219
40,117
189
34, 909
186
38, 932
168
34, 811
164
32, 540
120.9
117.4
118.1
112.2
146.5
150.8
167.1
185.4
155.6
230. 9
267
215 I
56, 419
49,255
52,336
964
19,029
32, 426
931
15, 240
43, 533
908
17,196
35, 803
928
17, 205
25, 556
997
13,934
26, 572
893
12, 803
24, 889
865
10,402
41,191
464
14, 738
31,485
740
14,259
42, 693
732
16, 222
38, 468
1, 463
16, 889
44, 216
731
20, 773
55, 048
953
23,067
875
9, 419
484
9,077
663
9,198
690
5,702
632
7,752
858
8,412
649
7,652
740
5,858
1,005
6,156
1,582
1,346
9,637
1,601
12, 017
1,129
11,430
14,053
2,011
10, 257
2,333
10, 420
2,934
9,632
2,075
12. 246
1,729
14, 653
2,367
10, 708
1,480
10,297
2,071
11,982
2, 981
13,078
4,305
13,919
3, 544
17, 085
3,332
15,612
3, 180
' Revised.
{Revised series. Data for "driving mechanisms for general fan u s e " have been removed from the fan group beginning January 1936. Revisions not shown on p . 50 of the
M a y 1939 issue will appear in a subsequent issue. Beginning January 193*/, data on air-conditioning systems and equipment are available for from 252 to 267 manufacturers;
figures shown here are for 125 of these whose orders in January 1939 amounted to more than 85 percent of the total for 252 manufacturers.
I D a t a for July, October, and December 1938, April and July 1939 are for 5 weeks; other months, 4 weeks.
51
SURVEY OF CURRENT BUSINESS
September 1939
Monthly statistics through December 1937, together with explanatory notes and references
to the sources of the data may be found in the
1938 Supplement to the Survey
1939
July
1939
1938
July
August
September
DecemOctober November
ber
January
February
March
April
May
June
METALS AND MANUFACTURES—Continued
MACHINERY AND APPARATUS—Con.
Pumps, steam, power, centrifugal, and rotary:
Orders, new
thous. of doL.
Water-softening apparatus:
Shipments, domestic
units..
1,306
Woodworking machinery:
Orders:
Canceled
..thous. of dol-.
5
New
do
438
Unfilled, end of month
_.
.do
980
Shipments:
Quantity—
number of machines...
157
Value
.thous. of doL.
357
ELECTRICAL EQUIPMENT
Battery sales (replacement only) :*
Unadjusted
1934-36=100-.
Adjusted
do
Electrical products:*
Industrial materials, sales billed 1936=100.
Motors and generators, orders received.,do
Transmission and distribution equipment,
orders received
1936=100-.
Furnaces, electric, industrial, sales:
Unit
kilowatts..
1,332
Value
thous. of dol_
97
Electrical goods, new orders (quarterly)
thous. of doL.
7,741
Ironing machines, sales*
units..
Laminated products, shipments .thous. of dol
805
Motors (1-200 hp.):
Billings (shipments):
A. C
do D. C
do__,
Orders, new:
A. C
do.,-.
D. C
do...
Power cable, paper insulated, shipments:
Unit
thous. offt716
Value
thous. of dol-.
773
Power switching equipment, new orders:
90, 302
Indoor
dollarsOutdoor
do__-. 283,614
Ranges, billed sales
thous. of dol-.
Refrigerators, household, sales
number-. 164,211
Vacuum cleaners, shipments:
Floor
do
61,492
Hand-type
do
15,197
Vulcanized fiber:
Consumption of fiber paper
thous. of lb_.
1, 725
Shipments!
thous. of doL.
437
Washing machines, sales*
units.. 104,817
1,034
2,006
1,462
1,449
970
1,155
1,204
1,282
1,258
1,230
1,236
1,673
822
1,244
1,078
1,191
1,038
1,077
1,108
1,082
1,698
1,122
1,217
1,282
18
365
640
14
337
665
1
381
714
4
340
656
3
456
720
4
612
910
13
363
863
14
410
836
1
445
896
5
393
923
150
289
164
298
205
332
165
394
172
388
236
418
190
397
216
422
209
384
111
115
163
122
198
128
188
111
168
120
149
132
100
127
78
122
52. 4
59.1
64.3
60.2
74.2
62.7
78.0
61.0
81.9
67.6
79.2
72.1
79.6
69.2
79.2
67.8
73.0
90.8
87.0
76.3
73.1
79.4
81.0
108.3
103.0
117.2
102.0
488
35
1,914
144
829
58
1,324
78
1,176
67
2,356
110
3,147
195
1,235
98
4,681
215
1,934
161
2,789
194
3,228
213
158, 959
11, 272
S00
10, 523
838
8,226
851
160, 374
9, 210
876
8,208
838
8,016
812
197, 654
11,607
968
9,047
830
8,433
849
205, 567
7,216
901
(a)
484
898
417
905
152
360
216
510
224
411
73
121
72
132
84
151
111
163
90.8
99.3
80.5
77.5
84.1
>• 77.5
87.1
87.8
7,983
521
11, 977
635
1,750
296
1,738
458
1,742
325
1,538
300
1,506
305
1,713
446
1,436
330
1,508
449
2,050
557
534
2,053
519
2,410
574
1,539
453
1, 695
358
1,733
472
1,641
347
1,605
651
1,733
659
1,574
540
1,762
404
2, 356
739
2,062
546
2,319
428
2, 504
549
515
565
660
657
763
764
587
555
603
588
476
502
271
273
353
312
637
662
700
696
566
674
652
718
938
306
367
956
121,481
120, 784
1,272
62,148
331
450
257
345
55, 627
124, 927
1,047
32,103
91, 720
138,840
1,006
47, 599
51, 124
109, 799
2, 230
150,108
47, 458
223, 286
2,103
198, 528
87, 019
197,175
2,263
251,644
75,161
279, 093
1,939
260, 204
89,809
346, 530
2, 395
273, 906
92, 347
217,846
2,025
268, 848
55, 022
13, 633
73, 309
17, 248
79,180
22, 834
95, 684
24, 121
89, 772
29, 734
95, 521
30, 632
78, 753
23, 846
87,140
25,182
122, 785
29, 470
100, 487
24, 539
91, 055
23, 322
80, 660
19, 014
1,073
306
74,019
1,450
350
129,163
1,189
380
125,821
1,495
372
115,019
1,565
422
84,192
1,385
383
67, 502
1,410
458
109,909
1, 561
470
129,885
2,070
528
152.725
1,575
466
116,199
1, 749
458
105, 206
1, 735
441
120,076
195.487
221, 862
1, 476
88, 772
118,
190,
1,
92,
55,
128,
1,
34,
PAPER AND PRINTING
WOOD PULP
Consumption and shipments**
Total, all grades
short tons.. 495, 350 450, 541 503,181 495, 097 525, 085 522, 863 539,061 499, 076 484, 507 546, 949 527, 307 524, 391 502, 887
Chemical:
Sulphate
do
208,187 200,282 216, 739 211,591 227,063 214, 796 211,884 196, 419 199,931 228, 680 221,196 204, 220 202, 204
Sulphite, total
"do
143,487 125, 749 144, 320 146, 614 151, 056 151,635 174.546 145, 040 136, 667 156,107 148, 801 152, 108 146, 993
91,164
94, 398
85.120
Blear-hed
do
90, 486 115,442
93, 498
91. 575
89.511
91, 428
73, 113
97, 156
86, 403
88, 885
55, 829
59,104
57, 710
Unbleached
do
61,149
55, 303
59, 481
55, 529
52,059
52, 636
51, 547
58, 951
57,917
57, 729
30, 031
31,996
33,713
Soda
do
32, 575
32. 946
31, 505
32, 643
28,303
31, 526
34, 705
30, 617
31.118
25, 546
123,059
120,
635
134,
350
Ground wood
do
123,
857
124,364
115,461
124,974
115,413
116,383
127,457
111,505
105, 774
98, 964
Imports'
Chemical §
do
78, f>34 140, 131 152,719
137, 431 121,919 159,990 142, 407 142,188 166,091 171, 520 150,510 103,504 117,800
17,403
Groundwood§
do
7,312
9. 867
17, 491
17. 366
19,694
12, 544
15,175
17,326
14, 957
20, 076
IN, 502
20,576
ProductionTotal, all grades
do
472, 095 429, 551 485, 830 475, 356
533, 423 522, 220 533,442 484, COS 543,411 521. 590 535, 149 507, 857
Chemical:
206,479 200,930 217,004 212, 664 231,804 217,8(6 212, 884 207, 259 200, 502 228, 632 212, 559 201,123 201,364
Sulphate
do
132,460 115,733 138, 457 139,022 154. 210 157,724 152, 498 158,913 132,662 149,019 142, 401 161,601 153,526
Sulphite, total
do
97, 308
88, 250 103,404
93, 782
95, 845 100. 337
79, 698 92. 729
82,527
69, 146
94, 729
Bleached
do
78, 826
82, 373
54. 151
58, 137 56, 218
63, 942
56, 653
52. 964
49,933
46, 587
59, 481
58, 576
56, 290
Unbleached
do
59, 631
56, 649
31,164
32, 768
34,748
24, 701
32, 632
31,917
31, 075
34, 561
26,846
31, 625
32, 255
Soda
do
30, 718
30. 995
106,310
Groundwood
do
88.187
99, 651
92, 675 105, 186 125,171 124,921 135,015 120,366 131,199 133,862 137. 677 121, 803
Stocks, end of month:
Total, all grades
do
200,803 228, 794 211,443 191,702 189, 442 200, 002 183, 161 217,526 217, 624 214, 085 208, 369 219,127 224. 097
Chemical:
35,517
36, 357
30, 454
48,091
35, 728
36, 728
26, 549
32, 628
47,568
48,139
33, 809
26. 814
Sulphate
do
98, 078 104, 611
88, 585
94, 985
92, 205 106, 078 102, 073
93,5S4 118, 465 112,602 105,010 108,164 114, 253
Sulphite, total
do
67, 891
61, 747
52, 681
57. 929
70, 099
76, 549
56, 952
84.188
73, 253
67, 778
62, 356
76, 611
Bleached
do . . . 58,990
30, 720
36,331
35, 904
37. 056
34,911
37, 704
35, 253
34, 277
34,911
38, 300
39, 717
34,594
35, 991
Unbleached
do
5, 832
4, 699
3, 664
3,842
4,905
4, 826
4,437
3,986
4,728
4,851
4, 376
4, 750
4,848
Soda
do
78, 137
79, 993
76,666
49, 402
63, 426
67,168
45, 116
79, 030
43, 802
59, 443
Groundwood.
do
69, 034
67,176
54, 077
1. 95
1.95
1.95
2.00
2.00
1.95
2.00
Price, sulphite, unbleached
dol. per 100 lb...
2.29
2.02
2.07
2.00
1.95
2.20
PAPER
Total paper:
Paper, incl newsprint and paperboard:
Production
short tons..
790, 379 954, 659 874, 263 926, 616 957, 377 849, 764 843,063 873, 441 1,036,734 912, 676 963, 576 898, 938
Paper, cxcl. newsprint and paperboard:
Orders, new
short tons..
443, 677 521, 567 467, 455 479, 970 514, 201 437,128 436, 048 468, 274 542, 497 436, 980 475, 698 444, 009
Production
do
420, 758 528, 246 454, 897 482,812 534, 542 444, 728 442, 405 463, 770 535, 229 462,299 501,932 441,867
Shipments
do
428,130 529.198 456, 235 475, 850 532,175 441,194 446, 265 460, 019 542, 734 447, 500 479, 116 443,029
r
Revised.
° Less than $500.
• Pulp used in the producing mills and shipments to the market.
* New series. Data on battery sales beginning 1934 appear in table 35, p. 17 of the August 1939 issue. Sales of washing machines and ironers beginning 1929 not shown
on p. 51 of the August 1939 Survey will appear in a subsequent issue. For data on electrical products beginning 1934, see table 32, p. 18, of the June 1939 Survey; data are furnished by both member and nonmember companies rather than member companies alone as therein stated.
§ Revised series. Data revised for 1937; see table 20, p. 15 of the April 1939 Survey.
f Revised series. Data on vulcanized fibre shipments revised beginning 1934; data not shown on p. 51 of the January 1939 Survey will appear in a subsequent issue.
52
SURVEY OF CURRENT BUSINESS
Monthly statistics through December 1937, together with explanatory notes and references
to the sources of the data may be found in the
1938 Supplement to the Survey
September 1939
1938
1939
July
July
August
September
1939
DecemOctober November
ber
January
February
March
April
May
June
PAPER AND PRINTING—Continued
PAPER—Continued
Book papenf
Coated paper:
Orders, new
short tonsOrders, unfilled, end of month
do...
Production
do...
Percent of potential capacity
Shipments
short tons.
Stocks, end of month
do...
Uncoated paper:
Orders, new
do...
Orders, unfilled, end of month
do..Price, wholesale, " B " grade, English finish, white, f. o. b. mills_dol. per 100 lb.
Production
short tons.
Percent of potential capacity
Shipments
short tons.
Stocks, end of month
.
do._.
Fine paper:
Orders, new
do._.
Orders, unfilled, end of month
do...
Production
do__Shipments
do_..
Stocks, end of month
do...
Wrapping paper:
Orders, new
do._.
Orders, unfilled, end of month
do...
Production
do__.
Shipments
do.. .
Stocks, end of month
do...
Newsprint:
Canada:
Exports
do.-Production
_do.-_
Shipments from mills
do-_.
Stocks, at mills, end of month . .do.
United States:
Consumption by publishers
do.._
Imports§
do...
Price, wholesale, 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 month
do___
Production
__do-_.
Percent of capacity
Stocks of waste paper, end of month:
At mills
short tons.
15, 744
3,647
14, 306
55.9
15,097
14, 211
14,467
2,571
14,730
56.1
14,526
12,830
16,608
3,076
16,836
59.3
16,138
13, 528
16,029
2,767
17, 445
66.4
16,883
14,144
17, 687
3,160
17, 741
64.9
18,194
13, 691
16,612
3,410
17,057
62.4
16,730
14,018
15, 769
2,714
17,096
62.6
17,563
12, 776
16,961
3,071
16,845
63.3
17,319
12,070
17,911
3,552
17, 796
71.6
17,642
12,472
19, 553
4,060
20,028
71.7
19,919
12,581
16, 305
3,238
17, 754
68.6
17,902
12,433
17,126
2,861
18, 579
66.5
17, 409
13,762
17, 276
3, 090
15, 634
64.9
15, 771
15,139
79, 210
30, 324
80,101
34, 573
88, 265
34, 542
91,466
36,141
89,878
35,123
87,923
33,730
86,840
34,958
94,160
40,314
88,218
36,931
102,810
38,053
92, 712
39,252
89, 681
32, 755
5.45
5.45
79, 345 74,919
68.8
62.4
82, 516 76, 558
57, 770 107,360
5.45
91, 791
70.8
89,862
110,267
5.45
88,518
73.7
90,518
106,230
5.45
5.45
89,642 90,589
81.1
72.5
91, 667 89,377
107,518 107,602
5.45
102,788
79.9
104,196
106,435
5.45
90,289
77.7
83, 692
28,179
5.45
96,088
77.4
89, 393
a
58, 282
30,904
9,927
28, 069
29,603
71, 383
39,103
11,717
40, 691
39,418
72,813
32, 522
11,157
32,457
33,565
71,169
5.45
5.45
5.45
92, 758 92,187 85,779
74.3
73.8
68.7
92, 345 89, 321 86,076
107,281 109,975 109,604
32, 750
12,692
37,813
35,158
74, 378
106,381
33, 294 ••r 37, 272
9, 229
12,280
38,075 ' 43,043
166
36,935 Ml,
66, 573 r 69, 657
5.45
87,953
73.9
84, 862
1
60,981
31, 538
9, 357
33,491
32, 216
62, 670
34, 511
11,864
36,001
35,803
65,480
35, 064
11,187
36,680
36,022
65, 384
142, 220 148, 562
64,300
151,076 151, 374
149,033 149,088
126, 365 126, 551
163,622
71, 599
161, 510
159,334
129,835
186,433 145, 740
62, 718 58,629
194,280 159, 353
195,555 152, 265
126,936 132,148
186, 710
64, 050
184, 727
180, 344
136,617
146, 747
63, 843
142, 224
147, 622
131, 000
195, 586 248, 068 245,813
231, 940 254, 872 245, 295
230,346 255,100 264,421
196, 511 196, 283 177,157
211,452
209,753
225,472
161,438
193, 624
208,382
201,852
167,968
152,437
200,631
178,236
190, 363
217, 651
220, 648
205,099
205, 912
162, 352
220, 843
214, 255
212, 500
244, 400
250, 015
274,635
187, 880
244, 655
240, 545
232, 261
196,164
172, 861 151,875 151,324 162, 457 187, 450 176,322
201,991 175, 441 190, 344 200,144 230, 278 229,284
177,134
209,782
160,916
183,050
153,346
144,308
174,096
189,360
179,542
209,597
178,543
250,668
170,980
216, 580
50.00
75,855
77,974
50.00
77, 264
72, 967
50.00
70,868
71, 926
50.00
79,929
81,616
50.00
77, 393
77,463
50.00
85, 872
84, 443
50.00
80,562
84, 628
21, 494
21, 822 20,135 20,065
251,041 223,469 206, 727 229,142
32, 580 37, 253 39, 251
13,449
17, 428
230, 443
47, 737
34,268
11, 587
36,551
34, 677
73,166
48, 225
16,174
45,149
46, 526
71,948
162,193 191,380 149, 372 159,243
70, 610 67, 336 66,278
66,181
154,273 195, 253 152,063 161,933
157,102 195, 822 152, 281 161,271
125,022 122,122 122,107 123,360
189,530
69, 322
191,105
189, 695
124, 683
200,837
227, 630 202, 546
221, 743 205,490
202, 051 179, 282
50.00
74, 932
75, 354
50.00
63, 278
69, 718
219,611
220,303
204,668
194,917
50.00
67,436
66, 006
50.00
68, 315
74,336
50.00
72,827
72, 203
50.00
78,390
76, 278
17, 006 22, 557 23,987
17,966
18, 590 20,702
252, 754 316, 635 314,586 303,067 288, 408 291,477
43, 459 26, 262 34, 696 32, 653 47, 570 44,628
18, 583 22,880
284, 661 267,155
30, 677 36,872
48,124
14, 227
45,046
46, 511
63, 976
255, 830 221,218 264,418 254,024 267,193 243,924 221, 768 233,311
382, 682 322,948 361, 323 367, 200 370, 453 327,168 334,711 342,408
108, 427 93, 637 96, 635 109,288 107, 235 89, 586 94, 411 109,099
366, 605 306,343 358,977 351,051 370,977 344,445 329,181 323,394
63.9
68.5
61.2
59.7
60.1
67.3
72.4
66.3
247, 710
338, 030
112,801
338,803
67.8
292,474 262,918 264,348 259,996
429,545 347, 575 372, 893 383, 371
124,420 97, 340 93, 643 95, 058
421, 576 372,984 375, 772 376, 509
66.6
64.2
69.1
73.4
257, 889 300,917
290, 648 282,095
262,344
248, 595 255,354
296,070
284, 239 275,746
274,951
259, 423 255, 677
PAPER PRODUCTS
Coated abrasive paper and cloth:
Shipments
reams.
Paperboard shipping boxes:
Shipments, total
mil. of sq. ft.
Corrugated
do__Solid
fiber
_ . do
76, 903
61, 220
71, 085
82, 091
79, 007
72, 029
62, 309
81, 867
77, 477
85, 778
85, 267
80, 246
2,193
1,982
211
2,708
2,466
243
2,589
2, 372
217
2,639
2, 430
2,547
2,385
163
2,239
2,081
158
2,222
2,075
146
2,304
2,145
159
2, 827
2,640
187
2,395
2,218
177
2,627
2,430
197
2, 624
2, 38S
236
PRINTING
Book publications, total
no. of editions.
New books
do - - _
New editions
do___
Continuous form stationery
thous. of sets.
Operations (productive activity)
1923=100.
Sales books, new orders
thous. of books.
798
669
129
112,194
16,549
686
143
78, 393
78
14, 578
636
835
1,222
945
800
787
1, 196
659
900
1,118
537
708
1,043
803
720
691
635
602
1,074
790
961
99
127
179
142
80
185
152
122
57
110
157
128,583
89, 385 113,132 116,140 119,903 125,811 111,211 107, 557 128, 508 108, 597 116, 935
81
84
87
86
92
77
80
89
87
81
84
16, 995 15, 522 16, 280 16, 256 14, 788 15, 998 16, 286 16, 889 16, 041 16, 498 16,466'
RUBBER AND RUBBER PRODUCTS
CRUDE AND SCRAP RUBBER
Crude:
44,166
50,165
Consumption, total
long tons.. 43, 880
42, 365
34, 219
40, 552
40,183
42, 850
46, 234
49, 050
48,143
99, 039
For tires and tubes (quarterly)... _ do .
79, 928
92, 021
31, 854
45, 496
Imports, total, including latex §
do
37, 222
22, 405
35,066
30, 826
34, 325
31, 674
37, 294
36, 857
32, 924
.159
.163
Price, smoked sheets (N. Y.)
dol. per lb_.
.154
.161
.159
.165
.166
.163
.158
.169
.163
74, 000
75, 000
Shipments, world
long tons..
79, 000
70,000
77, 000
74, 000
58,000
75, 000
86, 000
68, 000
Stocks, world, end of month
do
580, 654 565, 394 551, 447 540, 976 512,176 482, 852 497, 665 479, 578 460, 723 438, 252
99, 000
Afloat, total
. do
105, 000 101, 000
96, 000
99, 000
80,000 105, 000 106, 000 102, 000
92,000
57, 918
55, 981
40, 400
For United States
do
47, 772
48, 927
55,814
51, 062
45,105
51,114
48, 210
68, 931
72, 635
95, 252
99, 614
98,140
75,517
London and Liverpool
do
93, 272
86, 853
90, 073
80, 643
77, 683
97, 617
90, 939
89, 213
81,
274
British Malaya
do
89, 630
84, 499
87, 531
87,
968
90,142
282, 785 273, 841 268, 094 259, 074 242, 592 231, 500 221, 880
United States
do
21,093 205, 214 192, 638
Reclaimed rubber:
13, 39115, 322
Consumption
do
13, 542
8,831
12, 626
11,455
12, 599
12,041
13, 522
13, 000
13, 096
14, 527
14, 528
Production
do
12, 588
7,682
13, 093
11,317
12, 985
14, 652
13, 763
15,124
15, 899
22, 628
19, 955
Stocks, end of month
do
21, 339
15, 418
14, 286
21, 390
13, 918
15, 845
21, 960
23, 000
17, 083
Scrap rubber:
36, 496
Consumption by reclaimers (quar.)
do
25,044
36, 248
r
Revised
t-For book paper, see note marked with a " t " on p. 51 of the July 1939 Survey. Stocks of newsprint, at publishers, and in transit to publishers, revised
revisions not shown on p. 52 of the April 1939 Survey will appear in a subsequent issue.
§Data
revised for 1937: see table 20, p. 15 of the April 1939 Survey.
0
Change in inventory due to physical check-up. Figures prior to May 1939 not comparable with later data.
44, 377
47, 259
45, 784
.166
70, 000
429, 979
96,000
54, 046
66, 020
74, 308
193,651
34, 272
.164
66, 000
409, 630
90, 000
51, 274
63,878
75,409
180,343
13,517
14,769
22, 771
14, 870
15,871
23, 058
for 19317 and 1938
53
SURVEY OF CURRENT BUSINESS
September 1939
Monthly statistics through December 1937, to- 1939
gether with explanatory notes and references
to the sources of the data may be found in the
July
1938 Supplement to the Survey
1939
1938
July
August
September
DecemOctober November
ber
January
February
March
April
May
June
RUBBER AND RUBBER PRODUCTS—Continued
TIRES AND TUBES
Pneumatic casings:f
Production... .
thousands .
Shipments, total
do
Original equipment* _ .
.__ do
Replacement equipment*
do
Exports* . _ __
_.
do
Stocks, end of month
do
Inner tubes:f
Production
do
Shipments, total
_
. . . . . do
Exports*
do
Stocks, end of month
_.
do
Raw material consumed:
Crude rubber. (See Crude rubber.)
Fabrics (quarterlv)
thous. of lb
4,510
5,056
809
4,162
85
8,300
3,287
3,870
494
3,290
85
8,041
4,038
3,991
266
3,646
79
8,217
3, 916
3,888
678
3,123
86
8,022
4,183
4,126
1,287
2,729
109
8,237
4,139
4,405
1,777
2,544
84
7,924
4,729
4,154
1.707
2,348
99
8,451
4,581
4,163
1,685
2,397
81
8,932
4,344
3,739
1,472
2,156
111
9,573
5,137
4,583
1,747
2,723
113
10,109
4,211
4,356
1,529
2,719
108
9,998
4,418
4,753
1,415
3,239
100
9,919
' 4, 870
r 5, 750
1,370
' 4, 267
113
r 8, 909
4,043
4,285
62
7,819
2,936
3, 519
55
7,723
4,026
3,744
49
8,029
3,832
3,980
53
7,859
3,980
4,101
57
7,746
4, 029
4,138
55
7, 665
4,351
3,859
55
8,166
4,098
3,936
71
8,069
3,681
3, 335
65
8,415
4,470
4,015
74
8,901
3,841
3,927
82
8,837
3,848
4,154
67
8,840
r 4, 320
r 5, 123
66
' 8, 044
5, 216
4,414
18, 083
5,033
4.017
19, 055
4,866
4,192
19, 729
49, 441
59, 801
58, 376
RUBBER AND CANVAS FOOTWEAR
Production, total
Shipments, total
thous. of pairs..
do
Stocks, t o t a l , end of m o n t h
2,719
4 041
19, 469
do
4,254
5,803
17, 897
4,709
6, 360
16,246
5,067
4,991
16, 321
5, 513
6,139
15, 695
5,523
5,035
16,183
4, 807
4, 778
16,157
4,953
4,629
16, 582
5,897
5,214
17, 281
STONE, CLAY, AND GLASS PRODUCTS
PORTLAND CEMENT
Price, wholesale, composite
Production
Percent of capacity
Shipments
Stocks, finished, end of month
Stocks, clinker, end of month
dol. per bbl_.
thous. of bbl_.
thous. of bbl_.
do
do
0)
12, 644
57.9
11,755
22,366
5,939
(0
1.667
10, 968
50.2
10,164
23, 286
1.667
11, 007
50.4
11, 823
22, 534
5,902
1.667
10, 559
49.9
11,716
21, 374
5.506
1.667
11,556
52.9
12, 357
20, 569
4,927
1.667
10,184
48.2
8,573
22,179
4,963
1.667
8,066
36.9
6,281
23, 954
5,282
1.667
5,301
24.3
5,640
23,611
5,563
1.667
5, 506
27.9
5,043
24,092
5,986
0)
0)
8,171
37.4
8,467
23, 786
6,447
9,674
45.7
9,654
23, 837
6,568
11,185
50.9
12,748
22, 251
5,728
778
751
243
1, 063
1,015
200
841
215
1,119
1,130
193
1,189
1,070
195
953
891
219
831
795
255
728
673
321
806
720
350
583
552
374
762
792
377
0)
11,953
56.5
12, 715
• 21,477
' 5, 788
CLAY PRODUCTS
Bathroom accessories:
Production
thous. of pieces..
Shipments
do
Stocks, end of month
do
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
Floor and wall tile shipments:*
Quantity
thous. of sq. ft..
Value
thous. of doL.
Vitrified paving brick:
Shipments
thous. of brick...
Stocks, end of month
do
Hollow building tile:
Shipments
short tons..
Stocks, end of month
do
1,027
908
388
12.059
814
819
382
11. 972
129, 338
430,168
11. 902
148, 809
428, 780
11. 895
142, 900
454, 393
11. 925
166, 471
482, 830
12. 039 12. 046 ' 12. 023 «• 12. 024 ' 12. 032 ' 12. 026 r 12.077 r 12. 118
151, 568 133,184 101,056
95,920 166, 380 178,903 209, 716 199, 592
482,032 478, 260 476, 359 455, 859 397, 838 374,572 351,155 358,082
46, 512
271, 488
51,915
267, 844
47, 828
268. 583
52, 402
267,016
4,134
1,195
4,761
1,381
4,267
1,235
4,331
1,243
45, 701 37, 307 34, 499 28, 785 57, 624 62,982 r 79, 349 69,482
272, 200 283,017 292, 565 300, 546 290, 906 277, 291 256,825 244, 803
3,996
3,261
3,562
3,549
4,969
4,639
4,737
5,160
956
1,129
981
959
1,285
1,208
1,282
1,417
11,418
55, 689
10, 778
55, 423
8,046
54, 396
9,591
52, 999
55, 489
350, 782
62, 186
349, 271
58, 998
345, 089
62, 410
333, 782
2,007
3,994
3,612
6,647
48, 585 47, 336 45, 761 43,002
54, 762 46,815 50, 024 43, 643 72, 546 81, 994 105,713
335, 707 347,147 342, 408 348, 792 340, 348 327, 847 •307,810
7,206
51, 323
7,191
48,127
4,276
48, 763
6,844
44, 796
96,163
306, 750
GLASS PRODUCTS
Glass containers:
Production
thous. of gross.
Percent of capacity
Shipments
thous. of gross.
Stocks, end of month.
do...
Uluminating glassware:
Shipments, total
thous. of dol.
Residential
do.._
Commercial
do...
Miscellaneous
do...
Plate glass, polished, production, thous. of sq. ft
Window glass:
Production
thous. of boxes.
Percent of capacity
4,581
73.6
4,136
8,586
3,506
61.0
3,847
8,354
4,031
65.0
4,178
8,149
3,653
63.6
3,971
7,641
3,866
64.7
3,954
7,493
3,709
64.6
3,491
7,643
()
6,212
357
154
130
72
5,506
421
200
141
80
7,676
507
266
148
93
8,873
551
285
153
113
532
288
133
111
12, 883
690
42.6
330
20.3
434
26.7
522
32.1
641
39.5
54.4
3,589
55.8
3,473
8,179
3,389
55.7
3,323
8,192
4,129
61.4
3,933
8,318
4,071
65.4
3,978
8,336
4,516
69.7
4,485
8,293
4,662
72.0
4,618
8,209
12, 691
443
217
130
97
12, 209
357
185
107
65
396
201
116
79
11, 867
()
7,268
()
8,036
()
1,003
61.7
943
58.1
912
56.1
740
45.6
729
44.8
3,515
58.8
3,042
8,029
443
227
125
91
10,165
9,289
720
44.3
GYPSUM AND PRODUCTS
Crude:
Imports
short tons..
Production
do
Calcined production
do
Gypsum products sold or used:
Uncalcined
do
Calcined:
Lath
thous. of sq. ft_.
Wallboard
do
Keene's cement
short tons_.
All building plasters
do
For manufacturing uses
do
Tile
thous. of sq. ft_
313,120
806, 957
650, 804
247, 673
683,127
534, 415
40, 423
541,183
533, 440
291, 810
845, 524
773, 634
228, 375
192, 931
139, 248
244,163
251, 764
89, 994
6,591
214,151
89, 678
4,884
333, 730
36, 517
4,885
207, 418
95, 981
5,506
331, 702
26, 233
5,228
297, 267
113,721
7,781
486, 494
25, 515
8,581
432,
779
34, 523
4,991
' Revised.
2
Discontinued by compilers; data on an index basis appear on p. 20.
Discontinued by reporting source.
*New series. Fer data on floor and wall tile beginning 1935, see table 31, p. 18 of the June 1939 Survey. For the new series on pneumatic casings and inner tubes, see
tables 27 and 28, pp. 16-18 of the May 1939 Survey.
fRevised series. Data for pneumatic casings and inner tubes revised for 1936, 1937, and 1938; see tables 27 and 28, pp. 16-18 of the May 1939 Survey.
1
54
SURVEY OF CURRENT BUSINESS
Monthly statistics through December 1937, together with explanatory notes and references
to the sources of the data may be found in the
1938 Supplement to the Survey
1939
July
September 1939
1938
July
September
August
1939
DecemOctober November
ber
January
February
March
April
May
June
TEXTILE PRODUCTS
CLOTHING
Hosiery:
Production
thous. of dozen pairs__
Shipments
do
Stocks, end of month
do
9,819
9,482
25,109
8,538
21, 289
11, 304
11,712
21,033
11,146
12,440
19, 891
11,848
11.957
19, 933
11,731
11,973
19, 843
10,863
10, 641
20,217
11, 235
10, 211
21, 301
11, 374
10, 535
22, 201
13,198
13,142
22, 317
11,024
10, 577
22, 823
11, 796
10, 891
23, 789
11,218
10, 294
24, 773
448, 453
196
25
561, 406
201
18
534,037
389
11
542, 778
465
11
596, 289
481
14
565, 307
361
11
591, 991
290
12
562, 293
264
649, 237
330
10
546, 702
178
13
605, 353
143
14
578,448
114
12
.084
.089
.081
.084
.082
.081
.085
.086
.085
.091
.082
.087
.083
.089
.082
.090
.083
.090
.082
.088
COTTON
C onsumption
bales _ 521, 405
107
Exports (excluding linters)§
thous. of bales.
16
Imports (excluding linters)§
do...
Prices:
Received by farmers
dol. per lb_
.097
Wholesale, middling (New York)
do___
Production:
137
Ginnings (running bales) # _-thous. of bales__.
11,412
Crop estimate, equivalent 500-lb. bales. _do.__
565
Receipts into sight
do._21, 952
Stocks, world, end of month*
do...
14,150
American cotton
do___
13,082
In the United States..
do___
600
On farms and in transit
do___
11,632
Warehouses
do_._
850
Mills
do.__
1,068
In foreign countries
do___
7,802
Foreign cotton
do-_.
.087
.099
158
1,336
6,577
10,125
11, 231
674
47, 584
24, '.97
22,150
11,353
9, 782
1,015
2,147
23, 287
2,500
45, 353
23, 428
21,290
7,244
12,975
1,071
2,138
21,925
2,953
43, 075
22, 535
20,303
3,550
15, 283
1,470
2,232
20, 540
1,712
40,701
21, 573
19, 242
2,024
15, 539
1,679
2,331
19,128
11,412
11, 944
864
38, 350
20, 647
18, 345
1,390
15, 294
1, 661
2,302
17, 703
11,553
211
22, 639
13, 712
11,446
625
9,598
1, 223
2, 266
8, 927
417
35,988
19, 679
17,475
1,141
14,745
1,589
2, 204
16, 309
391
33, 700
18, 754
16, 647
1,093
14,034
1,5:0
2,107
14,946
394
31,230
17, 722
15,709
873
13,458
1,378
2,013
13, 508
246
29,150
16, 817
15,021
827
12, 940
1,254
1, 796
12,333
266
26,807
15, 880
14, 291
820
12,339
1,132
1,589
10, 927
310
24,133
14, 936
13, 609
721
11,915
973
1,327
9, 197
20, 993
4,301
21, 964
5,089
26,342
4,981
27, 903
5,818
28, 544
4,912
30,024
6,188
2.1, 742
8,534
28,145
9,210
34, 505
10,108
30, 609
6,566
24,170
5, 581
!8, 287
7,151
11. 52
.047
.055
11.42
.044
.054
11. 23
.043
.053
10.88
.045
.054
10.78
.045
.054
10. 69
.043
.051
10. 46
.043
.050
10.05
.042
.050
10.11
.043
.050
10.01
. 042
.049
9.33
.042
.049
9.84
.045
.052
110, 568
74, 656
5, 0?2
80.588
130, 498
88, 362
6, 741
96,417
128, 642
88, 619
5.877
89, 396
134,929
95, 372
6,379
102, 278
134, 661
100,100
6,617
109,136
141,266
102,504
6,369
118,926
127,165
91,115
4,780
107,960
126, 641
93,483
5,130
106, 396
144,021
109, 652
6, 633
127,815
127 ,858
97 ,270
4 , 962
109 ,250
131,715
98, 292
5,782
108,736
127,104
89,020
5,843
90, 265
21,915
5, 9' 5
225
70.2
7'375
280
76.2
22,189
6,613
252
76.1
22,114
7,118
273
81.9
7,575
291
83.6
22, 445
7,187
277
82. 3
22,440
7, 641
295
85.7
22, 525
7,171
277
87.8
8^236
319
86.6
22 ,109
g,893
268
84.6
21,975
7,575
295
81.4
21,788
7, 395
289
82.2
.230
.338
.223
.335
.230
.337
.240
.341
.2?5
.338
.2:0
.335
.224
.335
.225
.335
. 225
.335
.335
.235
.335
704
3,147 |
!
.51 !
36.1
595
2,031
691
1,781
745
2,877
735
3,395
670
3,955
664
3,457
669
3,322
867
4,159
.51
40.0
.51
39.5
.51
39.4
.51
39.5
.51
41.1
.51
43.4
.51
41.5
35.631
5, 417
41, 599
6,437
35, 204
5, 542
40, 816
5,039
33, 219
3, 040
37, 863
3,555
27, 802
3,943
26,150
3, 592
1. 854
1.801
1.9Q0
2.114
2.218
2.393
2. 689
86,816
23,116
77, 238
20,738
61,601
24, 201
15,373 j 16,302 j 18,162 i 21,938
17,274 I 25,441
16, 826
20,542 I 14,771
29,688
9,501
25, 941
9,784
22.449 i 21,110
8, 776
9, 856
19, 567
8,159
20, 244
5,852
23, 772
6, 291
1
-11,623
COTTON MANUFACTURES
Cotton cloth:
27,800
Exportst
thous. of sq. yd
6, 750
Imports!
do_.
Prices, wholesale:
10.52
Mill margins*
cents per lb__
.047
Print cloth, 64x60
dol. per yd-.
.053
Sheeting, brown, 4 x 4
do
Finished cotton cloth:%
Production:
Bleached, plain
thous. of yd__
Dyed colors
do
Dyed, black
do
Printed
do
Spindle activity:
Active spindles
thousands_. 21,915
6, 622
Active spindle hrs., total
mil. of hrs__
261
Average per spindle in place
hours. _
81.5
Operations!
pet. of capacity..
Cotton yarn:
Prices, wholesale:
.238
22/1, cones (Boston)
dol. p e r l b . .
.346
40/s, southern, spinning
do.
RAYON AND SILK
Deliveries, unadjustedt
Imports§
Price, wholesale, 150 denier,
(N. Y.)- ._
Stocks, end of mo.*
Silk:
Deliveries (consumption)
Imports, raw
Price, wholesale, raw, Japanese,
1923-25=100^
thous. of lb..
first quality
dol. per lb..
mil. of lb..
925
3, 503
877
2,074
4,409
910
3,145
.51
25.0
.49
53.6
.51
41.1
.51
34.6
bales _.
thous. of lb..
13-15 (N. Y.)
dol. per lb_.
26,142
2,614
32,593
4, 073
38, 504
4,975
38, 844
5,524
Stocks, end of month:
Total visible supply
bales_.
United States (warehouses)
do
WOOL
Imports (unmanufactured)§
thous. of lb..
Consumption (scoured basis) :1
Apparel class...
do —
Carpet class
do—
Operations, machinery activity (weekly average) :1
Looms:
Woolen and worsted:
Broad
thous. of active hours.
Narrow
do _ ^ _
Carpet and rug
do ...
Spinning spindles:
Woolen
do_._
Worsted
do....
Worsted combs
do....
Prices, wholesale:
Raw, territory, fine, scoured
dol. per l b .
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.
2. 648
1.729
73,348
25, 748
138, 105
42, 305
14,054
7,104
27, 489
7,984
22, 746
4,996
1, 759
69
155
1,174
58
106
73,739
71, 306
132
57, 438
55, 663
119
.32
142,511
40,711
135, 347
39, 747
9,727 j 12,281 |
151,311
43,811
150,718 1 149,778
46,218 ; 53,278
19,619 I 24,619 j 23,512
6,386 j 8,660
7,716
23,136
6,025
1,499
80 !
143 I
i
1,339
164
74,710 i 66, 022
69,644 ! 62, 851
145 I
117
I
i
.69:
.70
.71 I
.29
.29 I
.30 I
1.683
1.535 !
1.535 I
1.535
1.015
1.040 I
1.040 I
1.040
124, 354
48, 554
98, 078
38,178
r
.51
32. 6
26. 256
4, 050
60, 709
19,209
1,335
86
167 !
1,529 i
89
171
1,759
81
177
1,924
79
186
1,942
78
209
1,580
75
213
1, 338
62
198
1, 573
f9
17
1,791
73
178
66,840 '
70, 205
120
71,110 I
85,954 I
146 i
73, 277
97, 019
149
73, 480
87, 770
129
73,130
82, 226
137
60. 041
77, 747
124
55 704
67 613
95
63 248
79 174
11 7
72, 489
82,819
136
.74 !
.32
.73
.31
.73
.31
.73
.32
.72
.30
.69
.69
.30
.71
1.624
1.634
1.634
1.646
1.683
1. 683
1.683
1.040
1.015
1.015
1.015
1.015
1.015
1.015
.71
.31 I
1.535 I
1.040 I
I
.28
1. 6S3
1.015
1.13
1.13
1.06 !
b
«- Revised.
° T o t a l crop.
As of A u g u s t 1.
• T o t a l g i n n i n g s t o e n d of m o n t h indicated.
t Revised series. C o t t o n spindle a c t i v i t y revised beginning August 1933; see table 18, p . IS, of t h e M a r c h 1939 issue. D a t a on r a y o n deliveries revised beginning J a n u a r y
1936; revisions n o t given on p 94 of t h e F e b r u a r y 1939 s u r v e y will appear in a s u b s e q u e n t issue. D a t a on cotton d o t h exports revised beginning 1913; revisions n o t s h o w n
on p . 54 of t h e A u g u s t 1939 S u r v e y will a p p e a r in a s u b s e q u e n t issue.
t See note m a r k e d w i t h a " J " on p . 54 of t h e J u l y 1939 S u r v e y .
.
* N e w series. T h e d a t a on cotton stocks shown here are compiled b y t h e New York Cotton Exchange a n d replace t h e d a t a compiled b y t h e Commercial and financial
Chronicle.
D a t a beginning 1920 a p p e a r in table 34, p p . 15 a n d 16 of t h e August 1939 S u r v e y . F o r cotton cloth mill margins, d a t a beginning 1925 n o t shown on p . 54 of t h e
A u g u s t 1939 S u r v e y will a p p e a r in a s u b s e q u e n t issue. D a t a on r a y o n y a r n stocks, p o u n d a g e basis, have been s u b s t i t u t e d for t h e series formerly shown, w h i c h w a s on basis
of n u m b e r of m o n t h s ' s u p p l y . Figures beginning J a n u a r y 1930 n o t shown on p . 94 of t h e F e b r u a r y 1939 S u r v e y will a p p e a r in a s u b s e q u e n t issue.
§ Revised series. D a t a revised for 1937; see tables 19 a n d 20, p p 14 a n d 15 of t h e April 1939 S u r v e y .
1 D a t a for J u l y , October, a n d D e c e m b e r 1938, J a n u a r y , April, a n d J u l y 1939 are for 5 weeks, other m o n t h s , 4 weeks.
http://fraser.stlouisfed.org/
Federal Reserve Bank of St. Louis
1.13
1.03 I
1.05 I
1.05
1.12
1.11
1.10
1.13
1.13
1.13
55
SURVEY OF CURRENT BUSINESS
September 1939
Monthly statistics through December 1937, together with explanatory notes and references
to the sources of the data may be found in the
1938 Supplement to the Survey
1939
July
July
1938
Sep- October Novem- DecemAugust tember
ber
ber
1939
January
February
March
April
May
June
15, 539
5,374
10,164
11,820
6,660
5,160
13, 608
5,939
7,669
17,173
10, 241
6,932
31, 461
25, 641
5,820
55, 614
51,401
4,213
TEXTILE PRODUCTS—Continued
WOOL—Continued
Receipts at Boston, total
thous. of lb
Domestic
do
Foreign .
. . . . do .
Stocks, scoured basis, end of quarter, total
thous. of lb
Woolen wools, total
do
Domestic
do
Foreign
_
do...
Worsted wools, total
do
Domestic
do
Foreign
do
55, 355
51, 247
4,109
65, 322
64, 582
740
44, 506
42,069
2,437
16,047
10,021
6,026
22, 222
18,487
3,735
24,341
21, 239
3,103
147, 597
48. 276
40, 224
8,052
99, 321
84, 383
14,938
13, 678
9,009
4,670
115, 655
46, 686
37, 065
9,621
68,969
52, 517
16, 452
94, 506
39,019
29,458
9,561
55,487
33,452
22,035
122,915
39,421
31,191
8,230
83,494
63,128
20, 366
MISCELLANEOUS PRODUCTS
Buttons, fresh-water pearl:
26.3
Production
pet. of capacity.
Stocks, end of month
thous. of gross __ 5, 873
p 1,878
Fur, sales by dealers
thous of dol
Pyroxylin-coated textiles (artificial leather):!
2,243
Orders, unfilled, end of mo..thous. linear yd..
Pyroxylin spread
thous. of lb
4.351
3,971
Shipments, billed
thous. linear yd__
22.4
6,853
'5.010
32.2
6,910
4,631
41.3
7,037
1,465
37.8
7,155
1,515
36.3
7,229
1,242
1,835
3,882
3,785
1,890
4,849
4,429
2,196
4,998
4,389
1,908
4,922
4,516
1,917
4,289
4,168
r
30.4
7,188
1, 524
23.0
6,480
' 2,477
2,145
4,692
4,551
2,451
5,270
4,785
r
39.2
6,607
3, 551
34.6
6,641
' 2, 260
25.2
6,379
r 2, 561
2,223
5,079
5,119
2,188
5,402
5,505
2,252
4,643
4,576
1,887
4,727
4,759
2,087
4,710
4,387
39.2
6,507
2, 900
r
r
28.4
6,352
2, 375
TRANSPORTATION EQUIPMENT
AIRPLANES
Production, total 1
Commercial (licensed)
For export
number_
do_._
do...
211
139
72
264
190
74
246
183
63
182
128
54
204
159
45
276
174
102
4,760
3,376
3,912
2,558
3,460
2,399
2,946
1, 753
2,747
2,406
5,024
3,835
8,499
5,806
6,043
4,222
6,315
4,526
2,274
1,592
5,480
4,075
6,027
4,630
16,443
9,222
7,221
11,142
5,347
5,795
10, 888
2,808
8,080
17,024
10,930
6,094
29,043
20,172
8,871
34,978
21,322
13,656
23,958
15,126
8,832
27, 351
16,193
11,158
30,048
17,984
12, 064
27,087
16,213
10,874
25, 220
14, 430
10, 790
27, 087
16,213
10, 874
77, 039
39,160
37, 386
493
58,951
SO, 847
40, 347
39,927
572
40, 037
62, 561
29,174
32,948
439
26, 769
62, 385
30, 344
31,613
428
61, 359
86,047
51,266
34, 260
521
126, 650
92,452
54,933
37, 955
564
158, 289
76,390
40,694
35, 281
415
134,150
76, 776
40, 374
35,975
427
124,021
113, 847
64, 350
48,915
582
153, 007
114,696
66,064
48,014
618
150, 433
133, 707
75, 304
57, 649
754
140, 284
130, 671
73, 022
57, 028
621
118,268
75
35, 527
77
29,122
54
32, 321
57
32,124
62
30,816
44
28,509
73
27,479
44
30,649
58
29,878
83
35, 331
65
34,790
76
35, 501
90
37, 606
9,135
5, 112
209, 343
150,738
58, 605
681
9,007
5,273
141, 443
106, 841
34, 602
r
406
6,452
3,063
90,494
58, 624
31, 870
468
4,290
83, 534
65,159
18,375
819
5,774
5,412
209, 512
187,494
22,018
1,312
17,992
15, 423
372, 413
320, 344
52, 069
1,723
18,614
14,198
388, 346
326, 006
62, 340
1,818
14,794 ' 14,300
11,404
10,914
342,156 303,217
281,415 ' 243, 000
r
60, 741 r 60, 217
1,714
1, 443
17, 549
12, 689
371,940
299,703
72, 237
1,730
16, 891
12, 791
337, 372
273, 409
63,963
1,348
15,706
11,585
297, 508
237, 870
59, 638
1,244
14,515
10, 585
309,720
246, 704
63,016
1,020
148, 896
33, 476
127, 954
34, 231
93, 269
26, 570
119, 053
19, 589
200, 853
23,943
226, £73
31, 474
203, 212
37, 715
164,942
33,279
248, 038
45,083
263, 335
46,063
280, 834
45, 381
243, 741
40, 482
78, 758
90,030
61, 826
64, 925
55, 431
34,752
40, 796
36, 335
16, 469
68,896
123,835
92, 890
131,387
200, 256
159,573
118,888
187,909
150,005
88, 865
152, 746
116, 964
83,251
153,886
115, 890
142,062
182,652
142, 743
132, 612
158,969
126, 275
129,053
145, 786
112,868
124,618
156,959
124,048
133
136
138
148
139
60
100
125
89
58
104
143
91
136
161
91
129
133
167
150
126
142
157
129
121
83
160
131
129
91
140
140
129
95
153
142
141
105
129
132
150
105
120
115
154
108
115
113
166
108
1,653
1,705
1,701
1,691
1,690
1,682
1,672
1,668
1,664
1,662
1,657
1,654
229
14.0
8,448
241
14.3
10, 234
238
14.2
8,892
231
13.8
7,459
235
14.1
5,153
233
13.9
4,335
231
14.0
5,080
225
13.7
6,637
225
13.7
6,788
214
13.0
6,502
221
13.5
6, 391
231
14.2
9, 261
223
13.7
10,062
8, 059
20.3
72
7,984
18.6
26
8,108
18.9
14
8,075
18.9
14
8,155
19.1
7
8,133
19.1
17
7,881
18.6
30
8,084
19.1
25
8,053
19.1
63
8,149
19.3
62
8,175
19.4
61
8, 640
20. 6
63
8,382
20.1
60
148
144
84
60
64
56
38
18
53
52
34
18
51
50
34
16
82
73
62
11
100
92
84
8
rlOO
r 123
r 113
'68
45
' 132
r 122
r 148
^ 138
'78
60
'169
'160
AUTOMOBILES
Exports:
Canada:
Assembled, total
number,.
Passenger cars
do
United States:
Assembled, total§
do
Passenger cars§
do
Trucks§
do
Financing:
Retail purchasers, total
thous. of dol_.
New cars
do
Used cars
do
Unclassified
do
Wholesale (mfrs to dealers)
do
Fire-extinguishing equipment, shipments:
Motor-vehicle apparatus
number_ _
Hand-type
do
Production:
Automobiles:
Canada, total
do
Passenger cars
do
United States (factory sales), total
do
Passenger cars
do
Trucks...
do
Automobile rims
thous. of rims__
Registrations:
New passenger cars
number..
I\ew commercial cars
do
Sales (General Motors Corporation):
To consumers in U. S
do
To dealers, total
do
To U. S. dealers
do
Accessories and parts, shipments:
Combined index.
Jan. 1925=100..
Original equipment to vehicle manufacturers
Jan. 1925=100..
Accessories to wholesalers
do
Service parts to wholesalers
do
Service equipment to wholesalers
do
RAILWAY EQUIPMENT
{Association of American Railroads)
Freight cars owned and on order, end of mo.:
Number _
thousands..
Undergoing or awaiting classified repairs
thousands. _
Percent of total on line
Orders, unfilled
.
cars__
Locomotives owned and on order, end of mo.:
Owned:
Undergoing or awaiting classified repairs
number..
Percent of total on line
Orders, unfilled
number_ _
(U. S. Bureau of the Census)
Locomotives:!
Orders, unfilled, end of mo., total-,.number__
Domestic, total
do
Electric
do
Steam
do
19, 183
8,375
10, 808
102, 031
100, 302
71, 803
r
'62
151
143
60
63
Revised.
*> Preliminary.
tRevised series. ^_Data on^ pyroxylin-coated textiles revised beginmngjranuary 1938 to include figures for 2^small establishments not previously reporting, and to exclude
r
which are for trolley or third-rail and storage-battery locomotives.
http://fraser.stlouisfed.org/
^Exclude military planes for domestic use.
§ Revised
Data revised for 1937; see table 19, p. 14 of the April 1939 Survey.
Federal Reserve
Bank series.
of St. Louis
56
SURVEY OF CURRENT BUSINESS
Monthly statistics through December 1937, together with explanatory notes and references
to the sources of the data may be found in the
1938 Supplement to the Survey
1939
July
1938
July
August
temb'er
TRANSPORTATION
RAILWAY EQUIPMENT—Continued
(U. S. Bureau of the Census)
Locomotives—Continued.1
Shipments, domestic, total
number...
Electric
do
Steam
do
Industrial electric (quarterly):
Shipments, total
do
For mining use
do
(American Railway Car Institute)
Shipments:
Freight cars, total
number,_
D omestic
do
Passenger cars, total
do
Domestic
do
(U. S. Bureau of Foreign and Domestic Commerce)
Exports of locomotives, total §
number. .
Electric§
do
Steam
do
September 1939
1939
October
Novem- December
ber
January
February
March
April
May
June
EQUIPMENT—Continued
I
877
877
18
18
407
407
6
573
550
22
22
2,336
2,308
19
19
1,662
1,655
3
3
1,136
1,023
0
9
21
18
3
31
31
102
101
97
96
1,198
1,198
0
0
2,194
2,174
1,917
1,917
0
0
1,148
1,148
r7
r
7
0
0
1,312
1,312
'12
'12
279
279
15
15
2,149
2.148
'9
'9
10
8
INDUSTRIAL ELECTRIC TRUCKS
AND TRACTORS
Shipments, total
number
Domestic
do..
Exports
do..
WORLD SHIPBUILDING
(Quarterly)
Launched:
Number
ships
Tonnage
thous. gross tons
Under construction:
Number
ships.
Tonnage
thous. gross tons. J
2,712
704
2,669
I
716
2,704
CANADIAN STATISTICS
Physical volume of business:
Combined index
.1926 = 100.
123.4
109.1
110.5
119.2
us. 6
Industrial production:
Combined index
do
109.8
110.8
128.3
120.7
121.1
Construction
do
50.6
52.5
48.4
52.8
61.7
212.3
218.3
Electric power
___do
226.4
223.6
220.9
101.3
100.9
Manufacturing
do
125.3
114.2
113.2
101.4
102.2
112.8
110.2
Forestry
do
107.1
192.1
198.6
206.6
202.1
Mining
do
201.4
Distribution:
109.2
107.0
109.5
Combined index
do
114.9
111.5
74.2
71.5
Carloadings
do
76.3
76.0
81.0
122.7
132.0
104.3
127.1
162.6
Exports (volume)
do
89.1
85.7
79.8
82.6
84.4
Imports (volume)
do
133.7
133.7
131.9
Trade employment
do
132.5
134.0
Agricultural marketings:
101.6
89.2
145.6
40.3
123.9
Combined index
do
162.7
106.6
29.7
91.9
135.1
Grain
do
69.0
74.0
79.1
87.3
77.0
Livestock
do
Commodity prices:
83.8
84.2
84.1
84.9
83.9
Cost of living
do
83.1
73.5
74.1
76.0
78.6
Wholesale prices
do
74.5
72.6
Employment (first of month):
114.6
116.7
115.8
113.5
112.1
115.1
Combined index
do
122.5
133.1
124.9
128.0
133.8
143.5
Construction and maintenance
do
110.9
112.5
111.3
111.8
110.0
113.8
Manufacturing
do
163.4
164.1
154.5
153.6
157.4
160.8
Mining
do
132.8
136.1
147.6
146.1
143. 5
146.7
Service
do
135. 6
137.4
133.3
132.1
131.0
134.5
Trade
do
87.9
90.1
86.9
88.7
87.6
Transportation
do
Finance:
Banking:
2,655
2,965
2,976
2,466
2,371
Bank debits
mil. of dol._
122
72
92
81
93
Commercial failures*
number..
102
Life insurance sales, new paid for ordinary!
r
thous. of doL. 32, 244 • 30, 635 <• 28, 446 ' 27, 928 32, 372 r37,167
Security issues and prices:
98, 451 51, 399 51, 474 108, 958 104, 930
73,633
New bond issues, total
do
61.5
62.7
62.7
65.3
63.2
60.1
Bond yields
1926=100..
105.2
98.6
110.4
97.3
109.7
106.9
Common stock prices
do
Foreign trade:
78, 720 86, 538 108, 542 102, 719 94, 075
Exports, total
thous. of dol_.
7,248
6,266
12, 615 24. 579 21, 704
Wheat
thous. of bu_.
478
286
283
320
529
403
Wheat flour
thous. of bbl._
55, 823 57, 026 56, 412 63, 909 63, 304
Imports
do
Railways:
250
219
257
213
183
Carloading
thous. of cars..
Financial results:
25, 773 28, 439 34, 504 37, 609 30, 431
Operating revenues
thous. of dol_.
26, 919 25, 681 22, 661
24, 515 26,103
Operating expenses.._
do
1,095
6,375
Operating income
do
6,502
10, 684
Operating results:
2,668
1,689
2,063
3,389
3,924
Freight carried 1 mile
mil. of tons..
172
101
192
153
119
Passengers carried 1 mile
mil. of pass..
Production:
Electrical energy, central stations
1,988
2,164
2,376
2,329
2,076
mil. of kw-hr..
46
51
51
50
60
Pig iron
thous. of long tons..
90
76
84
83
74
111
Steel ingots and castings
do
1.103
1,606
929
1, 639
1,906
1,106
Wheat
flour
thous. of bbl
d
' Revised.
Deficit.
*New series. Data compiled by Dm and Bradstreet, Inc., have been substituted for those compiled
will appear in a subsequent Survey.
§Revised series. Data revised for 1937: see table 19. p. 14 of the April 1939 Survey.
tData on life insurance sales revised; 1938 revisions not shown above in thousands of dollars, are January,
and June 35,660. Earlier revisions will be shown in a subsequent issue.
ISee
http://fraser.stlouisfed.org/footnote marked with a " t " on p. 55.
Federal Reserve Bank of St. Louis
247
690
249
705
115.6
113.0
111.7
113.2
116.7
121.4
121.4
118.1
62.7
221.6
111.3
111.7
183.1
114.2
40.3
230.0
111.1
120.7
176.8
114.1
56.2
232.3
105.0
111.6
190.9
115.2
47.5
233.1
107.6
110.4
196.7
119.1
51.3
226.4
109.5
120.2
219.6
123.3
48.6
235.5
113.3
112.6
232.7
124.4
59.4
238. 8
112.9
120.6
228.9
108.6
73.7
100.0
75.8
137.0
109.3
70.7
141.2
77.6
133.8
104.9
66.7
110.1
71.7
133.4
107.4
71.8
108.4
73.9
135.0
109.6
69.2
126.9
78.0
137.2
115.9
81.1
138.0
91.2
138.0
112.9
71.3
145.8
87.7
137.5
85.7
88.4
73.6
52.0
46.3
77.9
32.3
23.5
71.7
48.1
40.7
81.2
60.3
58.5
68.1
102.6
105.9
87.5
40.5
33.8
70.5
83.6
73.3
83.3
73.2
83.1
73.2
83.1
73.2
83.1
73.4
83.1
73.7
82 9
73.3
114.0
112.8
110.1
163.3
131.7
139.7
85.0
108.1
96.4
104.3
160.4
131.7
144.8
79.9
106.5
89.4
106.0
160.5
129.5
131.0
79.4
106.5
94.3
107.0
160.9
128.5
128.9
80.3
104.9
91.6
107.1
157.4
131.4
131.1
79.3
106.2
94.2
108.4
155.8
133.2
135.1
81.4
113.1
115. 3
111.4
160.5
141.8
136.6
86.5
2,905
71
2,512
120
2,050
121
2,428
2,473
2,839
>• 36, 475
30, 434
30, 879
33, 578
28,229
86,142
61.8
106.8
139, 515
62.1
102.9
54, 657
61.9
104.1
70, 452
15, 983
365
44, 286
81, 773
7,879
380
43, 743
62, 399
5,746
291
40, 380
77,199
6,564
361
58, 381
56, 507
2,832
275
41, 908
178
171
160
191
179
27, 521
22, 633
3,597
23, 798
22, 923
<*382
2,100
1,871
123
2,350
53
79
1, 052
2,387
58
78
1, 098
33,657
2,831
83
35, 766
128, 304 151, 083 210, 421
62.4
61.1
63.0
99.2
96.2
103.7
112,400
60.1
97.0
94, 883
13, 655
516
94.501
14, 637
401
63, 709
22, 652 25, 700
22, 921 24, 333
193
<* 1, 490
25,191
22, 906
1,029
1,707
122
2,054
127
1,957
129
2,214
41
2,367
41
96
1,194
2,197
46
100
1,114
1.037
72,958
195
215
29,680
25,261
3,190
2,431
134
2,333
58
121
1,192
2,245
53
108
1.188
by the Dominion Bureau of Statistics; data beginning January 1934
31,287; February, 31,796; March, 33,461; April, 30,612; May, 31,016,
U.
S . G O V E R N M E N T
P R I N T I N G
O F F I C E :
1 9 3 9
ENDEX TO MONTHLY BUSINESS STATISTICS
CLASSIFICATION, BY SECTIONS
Page
Monthly business statistics:
19
Business indexes
---20
Commodity prices
--_ -_-21
Construction and real estate
23
Domestic trade
25
Employment conditions and wages. .
30
Finance
~
36
Foreign trade
37
Transportation and communications.
Statistics on individual industries:
38
Chemicals and allied products
40
Electric power and gas _ _.
41
Foodstuffs and tobacco
_
45
Fuels and byproducts
4
6
Leather and products
47
Lumber and manufactures
Metals and manufactures:
48
Iron and steel
Nonferrous metals and prod49
ucts
50
Machinery and apparatus
51
Paper and printing
52
Rubber and products
53
Stone, clay, and glass products
54
Textile products
55
Transportation equipment
56
Canadian statistics
.
CLASSIFICATION, BY INDIVIDUAL
SERIES
Page
52
Abrasive paper and cloth (coated)
30
Acceptances
55
Accessories—Automobile
23
Advertising
Agricultural products, cash income received
from marketings of
20
Agricultural wages, loans
29, 30
Air-conditioning equipment
_50
Air mail
_
23
Airplanes
38, 55
Alcohol, denatured, ethyl, methanol
. _ 38
Aluminum
49
Animal fats, greases
-.-.39
Anthracite mining..
.__
19, 26, 28, 45
Apparel, wearing
20, 24, 25, 26, 27, 28, 29, 54
Asphalt.-.
_
„
46
Automobiles
19, 23, 24, 25, 27, 28, 29, 55
Babbitt metal
_
-_- 49
Barley
_
42
Bathroom accessories
.
53
Beef and veal
43
Beverages, fermented malt liquors and distilled spirits
41
Bituminous coal
19, 20, 26, 28, 45
Boilers
_
_
_
48,49
Bonds, prices, sales, value, yields
30,35
Book publication
52
Boxes, paper
52
Brass.
—_
__ 50
Brick
53
Brokers' loans
30
Bronze
50
Building contracts awarded
21, 22
Building costs
.
22
Building materials..
_
20, 47, 53
Building permits issued
21, 22
Butter
_
__ 41
Canadian statistics
„
.
56
Canal traffic
37, 38
Candy
.
44
Capital flotations. _
33, 34
Carloadings
.
37
Cattle and calves
43
Cellulose plastic products
40
Cement
_
19, 53
Chain-store sales
24
Cheese
41
Cigars and cigarettes
44,45
Civil-service employees
26
Clay products
__ 25, 27, 28, 29, 53
Clothing
20, 24, 25, 26, 27, 28, 29, 54
Coal..
19, 20, 26, 28,45
Cocoa
_
44
Coffee
.
44
Cokc__
.
45
Collections, department stores
,
24
Commercial failures
31
Commercial paper
30
Construction:
Contracts awarded, indexes
21, 22
Costs.
22
Highways
22
29
Wage rates
49
Copper
39
Copra and coconut oil.
20
Cost-of-living index.
raw and manufactures
20, 21, 54
Digitized forCotton,
FRASER
Cottonseed,
cake and meal, oil
_. 39
Page
Crops____
19,20,42,43,44,54
Currency in circulation
-32
Dairy products
----19,20,41,42
Debits, bank
.
30
Debt, United States Government..
32
Delaware, employment, pay rolls
26, 27, 29
Department-store sales and stocks
.
24
Deposits, bank
.
_
——
31
Disputes, industrial .
.
.-27
Dividend payments..
35
Earnings, factory, average weekly and
hourly______
_-__ 28, 29
Eggs
_..
— - 19, 20,44
Electrical equipment
51
Electric power, production, sales, revenues.. 40, 41
Electric street railways
.
37
Employment:
Cities and States,..™
26
Nonmanufacturing
.
.»
26
Emigration.
.
38
Enameled ware
.
.
49
Engineering construction_ „ _,
.
22
Exchange rates, foreign
.
32
Expenditures, United States Government. _ .
32
Explosives
.38
Exports
_—
36
Factory employment, pay rolls
25, 26, 27, 28
Fairchild's retail price index - .
20
Fares, street railways
37
Farm prices, index.
_20
Federal Government,
finances
.. 32,33
Federal-aid highways
22, 29
Federal Reserve banks, condition of
30
Federal Reserve reporting member bank
statistics
„__.
.
.
30
Fertilizers
_..__
_
39
Fire-extinguishing equipment
55
Fire losses
.
23
Fish oils and fish
„
39, 44
Flaxseed
._
40
Flooring, oak, maple, beech, and birch
47
Flour, wheat
43
Food products
20, 25, 26, 28, 29, 41
Footwear
46,47,53
Foreclosures, real estate
23
Foundry equipment
50
Freight cars (equipment)
55
Freight carloadings, cars, indexes
37
Freight-car surplus
37
Fruits
20, 42
Fuel equipment
50
Fuels. _
45,46
Furniture
„___„
48
Gas, customers, sales, revenues
41
Gas and fuel oils
...
. . . . 45,46
Gasoline
.__
46
Gelatin, edible._ — - _ . _
„_
44
General Motors sales
.
,
,
„_
55
Glass and glassware..
19, 25, 27, 28, 29, 53
Gloves and mittens
46
Gold...
—
32
Goods in warehouses..._
23
Grains
20,34,42,43
Gypsum
„
_
53
Hides and skins
21,46
Hogs..
_
43
Home loan banks, loans outstanding
,
23
Home mortgage insurance
23
Hosiery
54
Hotels.._
_
26,28,38
Housing.20, 22, 23
Illinois, employees, factory earnings
26, 27,29
Imports
36,37
Income-tax receipts
32
Income p a y m e n t s - . .
.
19
Incorporations, business
23
Industrial production, indexes
19
Installment sales, New England
24
Insurance, life
.
.
31
Interest and money rates
30
Iron ore, crude, manufactures
19, 48
Kerosene..
„
46
Labor turn-over, disputes
27
Lamb and mutton
,
43
Lard
43
Lead_
19,49,50
Leather
19, 21, 25, 26, 27, 28, 29, 46
Leather, artificial
55
Linseed oil, cake, and meal
40
Livestock
19,20,43
Loans, agricultural, brokers', real e s t a t e . . 23,30, 33
Locomotives
.
.
55, 56
Looms, woolen, activity
54
Lubricants
46
Lumber
20, 25, 27, 28, 47
Machine activity, cotton, wool
54
Machine tools, orders
50
Machinery
———
25, 27, 28, 50
Magazine advertising
.
23
Manufacturing indexes
19
Marketings, agricultural
19, 20
Maryland, employment, pay r o l l s . . .
26, 27
Massachusetts, employment, pay rolls
26, 27
Meats.
.19,20,43
M e t a l s - . . . . , - - - - - - 19, 21, 25, 27, 28, 29, 48, 49, 50
Methanol
.._
38
Mexico, silver production
32
Milk
.-_
41,42
Minerals
_ _ . . 19, 26, 28, 45, 49
Naval stores..39
Netherlands, exchange rates
32
New Jersey, emp^
Newsprint
-_.,'
New York, emp
traffic
_
New York Stock 1
Oats.
Ohio,
employmentsl'^^^fi' f S"^^0lti t
Ohio River trafficl,»^«*>;'ii»V*»ii**i**'%i^l*'^' "
Oils and fats.
^^U^^^C*
Oleomargarine
Paint sales
Paper and pulp..***.Passenger-car sale* I I
Passengers carried, J
Passports i
Pay rolls:
FactoryFactory, by dttim L
Nonmanufactuifilll^ij
Pennsylvania, empjIofflOi
Petroleum and producte—.—
Pig iron
* ^
Porcelain enameled p
Pork__.
Postal business.^,^^^
Postal savings--**^.*
Poultry
*„',!,..
Prices:
Retail indexes -4,^^^
World, foodstu^
PrintingProfits, C(
Public reliefPublic utilities „*»;«.«
Pullman Co
mm
Pumps
m~m*{***i
Purchasing power of t
Radiators _ _ . _ . - ^
Radio, advertising.,*
Railways: operatT
statistics
,^
Railways, street-**—•^•^••*»»^
Ranges, e l e c t r i C - ^ - W * - * * ^ ^ ^ ^
Rayon.
„,.
Reconstruction
FtfJ
outstanding...*
J'iw
Refrigerators, el«m "
Registrations, auto
Rents (housing), \
Retail trade:
Automobiles, new, ]
Chain stores: "'•>••"
5-and-10 ( v a r i e t y ) — - - Grocery. - *. * ;» ( ( (!g # ^*..»
Department atOftCJyfr—»^. ^ ^
Mail o r d e r . - . * , i i . ' * ^ ^ i * * ^
Rural general merchandiie.
Rice
---+,^-"4'*.
Roofing
^*.^ ! »ii
Rubber, c r u d e , ! , p « ^ | ^
tires.^ . . ^ i t « ' 19,20, 3
Savings deposits—...-^,"'
O i l C C O Q.OQ. lditXKO0># a* $**&'
Shipbuilding — ^*i!«
Shoes
,. U#V
Silk
.*»»W*
1^
Skins
Slaughtering
Spindle activity* <
Steel, crude, mam, ,
Steel, scrap, expflftojlt
Stockholders . , . ^ r
Stock indexes, imd
Stocks, departmfnt^ff
Stocks, issues, price*, i
Stone, clay, and gla»sj
Sugar
.--^^^-A
Sulphur _----«. „ m m*,*^*,^
Sulphuric a c i c L * ^ ^
Superphosphate--^—..
Tea
.-^---^-*,»-.---*--Telephone, telegraph, cabte, and
graph c a i r i e i i ^ ^ ^
Textile
Tile,
Tin
Tobacco
Tools,
n
Trade unions,
Travel..
Trucks and trac
aQ
U i d S
United State* Qj^g
United States Steel <
Utilities
•i~U
Vacuum cleaner*. .
Variety-store
^
Vegetable il
Wages.
Warehouses, space c
Waterway bra
Wholesale pric ,
Wire clothII4
Wisconsin,
wages
_„
Wood pulp---uL.j.
Wool.
Price
25 cents
JL
NEW REVIEW OF THE
WORLD
CHEMICAL INDUSTRY-
1938
WORLD
CHEMICAL
DEVELOPMENTS
DEPARTMENT OF COMMERCE
BUREAU Of FOREIGN AND DOMESTIC COMMERCE
COVERS 60 COUNTRIES
205 Pages
DISCUSSES
New Developments* •
New Processes <
Plant Expansion*
Cartels
Export Bounties and
other Gov't. Assistance
Branch Factories • • •
Foreign Trade«
Etc.
<
Plastics • • • • • • • • • •
Solvents* • • • • • • • • •
Paints • • • • • • • • • •
Pigments
••
Paint Oils
Naval Stores • • • • • • •
Gums, Waxes, Resins
and Balsams •
Industrial Chemicals and
Chemical Specialties • •
Insecticides # • • • • • • •
Drugs, Medicinals, and
Toilet Requisites • • • •
Dyes, Coal T a r
Products, • • • • • • • • •
Etc.
Copies of the above publication may be obtained, at the price stated, from the Superintendent of Documents,
Government Printing Office, Washington, D. C, or any District Office of the Bureau of Foreign and Domestic
Commerce located in commercial centers throughout the United States
@FedFRASER