Full text of Survey of Current Business : September 1951
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SEPTEMBER 19B1
U. S. DEPARTMENT OF COMMERCE
BUREAU OF FOREIGN AND DOMESTIC
OFFICE OF BUSINESS ECONOMICS
EY
OF CURRENT
BUSINESS
No. 9
SEPTEMBER 1951
itenfo
PAGE
USINESS SITUATION
al Goods Programs Show Effects of Defense Effort .
ion of Electric Power Use and Capacity . . . .
Balance of International Payments During tbe
nd Quarter of 1951 . . . . . . . . . . . . .
1
5
7
9
L ARTICLES
National Farm Product in Constant Dollars,
0-50
13
and Private Debt in 1950
20
ILY BUSINESS STATISTICS . . . . S-l to S-40
deal Index
Inside Back Cover
by the U. S. Department of Commerce, C H A R L E S SAWYER,
Office of Business Economics, M. JOSEPH MEEHAN,
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Contents are not copyrighted and may be freely reprinted.
SEPTEMBER 1951
THE
Varying strength of buying is
reflected in divergent production
trends since the first quarter.
INDEX, MO. AVG. 1ST QTR. 1951 = 100
150
Urgent demand
for military
products and
producers'
durable goods
results in
higher output.
SITUATION
ORDNANCE
By the Office of Business Economics
125
MACHINE TOOLS
GENERAL
MACHINERY
STEEL INGOTS
1
J
100
MOTOR TRUCKS
I
75
Slackened
buying by
individuals
has slowed
production of
many consumers' goods,
but food and
vacation expenditures
are high.
OTABILITY has characterized the over-all volume of
economic activity, with little change in the major indexes of
business activity. Additional economic resources are being
drawn into defense use, but the increased pressures of such
demands are being offset for the present by the slackened
pace of inventory accumulation and the curtailment in residential construction. Prices in wholesale and primary
markets have continued to decline slightly, but prices of
final products—including retail prices—have shown little
change.
Production of consumer goods declined more-than-seasonally during the summer months, reflecting the reduced demand by consumers and distributors and—in the case of
passenger cars—the additional influence of limitations on the
use of steel and other metals. However, the output of basic
raw materials, the building of defense and defense-supporting
facilities, and the production of finished munitions are being
accelerated to provide adequate backing for the growing defense effort. Defense expenditures which increased by $6K
billion from the first to the second quarter of this year, at
annual rate, are expected to rise by about a similar amount
from the second to the third quarter, with most of the increase
being accounted for by the procurement items. The third
quarter estimate in chart on page 3 is based upon the
expenditures for the first 2 months of this period.
Expansion limited by materials supplies
Since steel and other metals are inadequate to meet
combined civilian and defense demands, the NPA has
curtailed further their use in passenger automobiles and
other consumer durables. The agency also reduced structural steel allocations for some industrial construction for
the fourth quarter of this year. Despite the tightening
steel supply, businessmen expect that their expenditures
on plant and equipment will be rising slowly through the
end of this year. The results of the latest quarterly survey
of expansion programs are summarized in a following section
of this month's review.
Manufacturers' unfilled orders double a year ago
1951
U. S. DEPARTMENT OF COMMERCE, OFFICE OF BUSINESS ECONOMICS
963298—51-
51-209
New orders received by manufacturers continue to exceed
sales, so that the value of unfilled orders has been rising
and is now at a new high. The total has been marked by
two distinct trends by groups of industries. The orders
placed for military goods, producers' durable goods, and
for the basic metals continue to run above the current rate
of output, so that unfilled orders have been increasing.
On the other hand, in those lines affected by the lower rate
of consumer buying, orders placed with manufacturers
have generally remained well below shipments as deliveries
are made against earlier commitments by retailers. In these
lines unfilled orders have declined steadily since March.
SUKVEY OF CURKENT BUSINESS
Industry trends vary
The divergence in the trends of new orders has been
accompanied by similar patterns in production. The chart
on page 1 shows the trends during this year for representative industries. The upper 7panel shows the rising trends in
the military and producers durables segments where demand has been strong and allocation of scarce materials has
been made to facilitate expansion. These segments comprise about one-third of total output of manufactured goods.
The lower panel illustrates segments which have been
relatively stable or declining. Production of food products
is a case of the former type—the stability of this segment
reflecting the steady rate at which food consumption has
been maintained despite the upsurge in food prices in the
past year. Reduced demand with the consequent inability
of distributors to move goods to consumers has accounted for
the declining rate of production of other representative
items indicated on the chart. As a result of wide variations
in demand, some firms are experiencing difficulties in obtaining the necessary resources to expand, whereas others are
trying to move excessive stocks in the face of lower sales.
Private demand lower—
Government demand higher
For the current or third quarter, the seasonally adjusted
volume of personal consumption is expected to be slightly
above the lowered rate of the second quarter, but the rate of
inventory accumulation has been sharply reduced. In fixed
capital investment, producers' expenditures are higher but
residential construction is lower on a seasonally corrected
basis. The net effect is that demand for private product
has declined in the current quarter. In the second quarter
private demand was stable, principally because of the unplanned accumulation of inventories as buying slackened off.
At that time, the expansion in Government procurement
raised the total GNP further—with higher prices accounting
for a part of the dollar increase. Currently, with stable
prices and lower demand from the private economy, the
further rise in Government outlays has been primarily responsible for maintaining total output in real terms at the
level of the second quarter.
Consumers are still showing a preference for saving an
unusually high proportion of their current income. Purchases of consumer durables have been restrained somewhat
by regulations on the terms of installment sales as well as
indirectly through the decline in the sale of houses. This in
turn has been partly attributable to regulations on mortgage
loans. Recently some easing of these restrictions has occurred through Congressional action permitting more liberal
credit terms on durable goods, on housing in defense areas,
and on purchases of houses by veterans.
The stability in real output is evident from the trend of
employment so far during the quarter. Man-hours in July
and August were little changed from the second quarter
average, with a slight increase in nonagricultural employment offset by a somewhat less than seasonal expansion in
agricultural employment.
September 1951
preceeding 3 months. The slackening in the rise of income
resulted mainly from the tapering off of private industry
payrolls which were responsible for most of the expansion
in personal income in the early part of the year. After
advancing from $136 billion, at an annual rate in January to
$140% billion in April, they have remained virtually unchanged in the past few months, reflecting the steady employment and production totals.
Some small declines in wage and salary disbursements
have occurred in the 7 commodity-producing industries,
particularly in consumers durable goods manufacturing and
in construction, with the July payrolls in this area slightly
below the totals established earlier this year. This decline
stemmed from reduced man-hours and accompanied the
drop in consumer durable output and in residential construction activity. Expanding employment in defense
producing plants, however, offset to a great extent the lower
activity in consumer durables segments.
In the distributive and service industries advancing wage
rates contributed to the slight rise in payrolls that maintained the private industry total unchanged.
In contrast to the private industry sector, the continued
expansion of the Armed Forces and of civilian personnel in
defense activities has resulted in higher employee compensation, although the increase has been at a slower pace than
at the start of the year.
Farm income higher
Proprietors7 income in July rose above the second quarter
average as a result of increased farm income. Although farm
prices continued to decline, a higher physical volume of crop7
marketings was responsible for7 the rise in farm proprietors
income. Nonfarm proprietors income has continued to
drift lower with the reduced volume of trade activity that
has been a fea-ture of the past half year.
The remaining components of personal income, comprising
dividends and interest, rental income of persons, other labor
income and transfer payments, differed little in July from the
second quarter averages.
Wage rates tied to consumers9 prices
Personal income high, but rise tapers off
Average hourly earnings in manufacturing have shown a
slowly rising trend. Part of the increase represented adjustments following the general policy of the Wage Stabilization
Board which allowed in certain cases a maximum increase
in wage rates of 10 percent over the January 1950 level.
Wage rate advances were also permitted in cases of company
plans or collective bargaining agreements incorporating costof-living and improvement factor clauses executed or announced before January 25, 1951.
On August 23 the Wage Stabilization Board made generally
applicable cost-of-living increases without Board approval.
The Board now allows cost-of-living agreements made since
the January deadline to be put into effect. In the absence
of a formal plan, cost-of-living increases may be granted
every 6 months without Board approval. Downward
fluctuations in the index need not be reflected by wage
changes in the latter cases. In effect, this plan aims at
continuing the adjustments in the real wages of workers
even in the event of price advances.
The stability of the economy in recent months has been
accompanied by a marked moderation in the rise in personal
income. In July, personal incomes were up only slightly to
an annual rate of $251.6 billion. Nonagricultural income
was at the same rate in July as in May, with farm proprietor
income accounting for the increase in total income. In the
3 months ending in July, personal income advanced $2l/2
billion, at an annual rate, less than half the growth in the
Recent Trends in Industrial Activity
Industrial production has been stable in recent months
(subject to vacation influences) as higher output of defense
and producers7 goods has offset the declining trends in many
consumer lines.
The downward adjustments in production schedules which
began in the early months of 1951, at a time when production
September 1951
SUKVEY OF CUEEENT BUSINESS
of most manufactured goods was close to peak rates, was
confined for the most part to consumer
goods. The general
curtailment in output of consumers7 durable goods stemmed
from a reduction in demand and to a lesser extent from
restrictions of nondefense use of metals. The downtrend
also extended to a few soft goods lines where the high rate
of output in the last half of 1950 resulted in easier supplydemand relationships. For most other nondurable goods,
however, demand continued strong and output generally
advanced or was well maintained.
In the defense and allied industries output has continued
to advance—except when affected by seasonal influences or
work stoppages—with the rate of increase being limited by
capacity and materials shortages. The rate of operations
in industries producing basic materials has been largely
maintained at or close to capacity levels.
Divergent production trends
Chart 1 shows the varying production trends for a
selected group of products. For the purposes of this analysis,
the production figures have been converted to an index using
the monthly average of the first quarter of 1951 equal to 100,
a period when consumer buying was still active and when
production of most manufactured goods was at or close to
peak rates. The data shown for the latest month in the
chart are for July except for steel ingots, automobiles, and
television receivers which are estimates for August based on
weekly production data. In this connection it should be
pointed out that the July figures are distorted to the extent
that they reflect seasonal influences as well as plant-wide
shutdowns for workers' vacations, which were more widespread and more extended than in 1950. These vacation
shutdowns were especially employed by the consumer industries to facilitate inventory adjustments.
rates considerably below the April-June 1951 volume of
output.
The reductions in output of household electrical equipment, including radios and television sets in the second
quarter as compared with the first ranged from one-tenth
for radios to an extreme decline of one-half for television sets.
For the group as a whole, output was one-fourth lower than
in the first quarter and in the peak quarter of 1950. The
downtrend which actually began toward the end of the first
quarter continued through June and was greatly accelerated
in July with output in that month reduced to an average of
50 percent of the base period.
The rate of defense spending is now nearly three
times that of a year ago
Billion Dollars
40
30
20
10
Expansion in railroad equipment
Production of railroad equipment reached a high volume in
the second quarter with deliveries of freight cars the best in
2 years and installations of new locomotives (almost entirely
Diesel-electrics) on Class I railroads the highest in 25 years.
July shipments
of freight cars were held down not only by
workers7 holidays but also by work stoppages in a number of
plants and by floods in an important Midwestern producing
area.
Although the total value of construction is holding up
with increases in industrial and military projects offsetting
the drop in private home building and commercial construction, the physical volume of work put in place has been
tapering off in recent months. This development is now
showing up in some easing in demand for building materials
with the result that production of most construction materials,
particularly lumber, has declined from the peak rates of the
first quarter of 1951.
Readjustment in consumer durables
While restrictions on the use of materials for civilian
production would have required limited cutbacks, the reduced consumer buying has been the motivating influence
in the curtailed output of consumer hard goods. Fourth
quarter allotments of steel, copper, and aluminum to manufacturers of consumer hard goods—refrigerators, washing
machines, radios, television, and other household equipment—will permit a production of these products at approximately three-fifths of the quarterly rate in the first half of
1950. A corresponding cut in terms of units would mean
the production of 900,000 refrigerators, 600,000 washing
machines, 2.1 million radios and 900,000 television sets,
1950
1951
QUARTERLY TOTALS, SEASONALLY ADJUSTED, AT ANNUAL RATES
U. S. DEPARTMENT OF COMMERCE. OFFICE OF BUSINESS ECONOMICS
51-215
The adjustment to a lower level of production is most striking in the television industry which represents, as in carpet
wool consumption, an extreme situation where a rapid and
drastic curtailment in production was made because of the
lack of new orders. Producers of television sets reduced
operations sharply so that the number turned out in August
represented only one-third of the first quarter rate and except
for July the lowest monthly volume in 2 years.
Despite recent Nation-wide campaigns to push sales, retail
stocks of television sets while down from the peak were still
high in relation
to sales. As of August 1, combined
stocks
7
in retailers7, manufacturers7, and distributors
hands totaled
7
2.6 million sets, equal to about 6 months production at the
monthly average rate of the second quarter. It is estimated
that about two-thirds of the number of sets in retailers'
hands consisted of the higher-priced console models.
In contrast, the decline in the number of radios produced
was much less pronounced than that for television with the
inventory position also considerably more favorable in relation to sales.
Sales of new passenger cars showed little change although
they normally increase from the first to the second quarter.
Factory completions in July and August totaled 800,000, a
quarterly rate of 1.2 million which is in line with NPA
limitations on production during this period. Because of
SURVEY OF CURRENT BUSINESS
the continued tightness in the supply of metals, a further
reduction to 1.1 million units is in prospect for the coming
quarter. Actual production of this number in the OctoberDecember period would result in the industry turning out
about 5.3 million passenger cars in the current year, a total
exceeded only by last year's record production. Consumers
are taking the current rate of production, and stocks of new
passenger cars in the hands of dealers have been declining,
with the number on July 31, according to trade reports, the
lowest in nearly a year.
Metal supplies at steady rate
Over-all supplies of metals in July and August while
somewhat lower than in the second quarter were still about
as high as in the first quarter .of 1951. The steel industry
continued to operate at approximate capacity, turning out
around 2 million tons of steel ingots and castings per week,
a rate which has been maintained without interruption for
the past 6 months. Raw steel supplies in the first 8 months
were more than 6 million tons higher than in the same period
last year when rated capacity was about 5 million tons lower
than at present.
Nonferrous metals have been in tight supply for more than
a year and these metals have become increasingly more
stringent as supplies from domestic and foreign sources have
been declining steadily since the turn of the year. As a
result, deliveries to fabricators have been in reduced amounts
from the high rate of the fourth quarter of 1950.
Copper accounted for a large part of the drop in nonferrous
supplies and this metal is now in the tightest supply position.
Labor disputes in domestic and foreign copper mines accounted for some of the reduction in supplies and in addition
the price situation has been an influence in this development.
Thus, imports of copper in the first half of this year averaged
20,000 tons per month which compares with a monthly
average of 27,000 tons in 1950. As a result of the acute
shortage of this metal, 25,000 tons have been released from
the Government stockpile for sale to consuming markets in
accordance with allocations of the NPA.
Consumption of lead and zinc has dropped somewhat
below the peak volume of last year largely because of reduced imports. Aluminum production has been rising, with
the industry operating at virtual capacity—an annual rate
of about 850,000 tons. New capacity scheduled to be in
operation in 1952 will raise the existing level to 1.2 million
tons and this will be further boosted to about 1.5 million
tons by the end of 1953, about double the capacity at the
beginning of the defense program.
Divergence in shipments and orders
The adjustments which have been detailed in industrial
production have reflected variations in the orders-sales
experience of manufacturers. During the past several
months manufacturers' shipments have been easing, particularly for the durable goods manufacturers, while backlogs
of orders have been rising steadily. This paradox of easing
shipments and rising backlogs reflects the disparate movements between defense and nondefense business.
Nondefense business at the manufacturing level has for
some time been affected by the softening in consumer
demand. Defense business, on the other hand, has been
moving steadily upward, though its effect so far has been
more apparent on orders than on shipments. A high proportion of defense orders involve extensive "tooling-up," the
construction of special facilities, and long engineering and
production periods. Such contracts have contributed heavily
to the expansion of backlogs, and help to explain the unusal
situation of reduced shipments and increased backlogs in
which many firms find themselves.
September 1951
The recent easing of shipments and orders has varied
widely in its impact on different manufacturers depending in
large part on their ability to obtain defense orders and
on the ease of conversion to defense production. This
Chart 3.—Manufacturers' Sales and Orders for Selected
Industries l
INDEX,
MO. AVG. 1st HALF 1950=100
400
TRANSPORTATION
EQUIPMENT, EXCEPT
350 -MOTOR VEHICLES
300
UNFILLED ORDERS
250
200
150
100
SALES
50
300
250
ELECTRICAL
MACHINERY
200
150
100
i i i I i i i i i I i i i i i
50
250
FURNITURE
UNFILLED ORDERS
200
150
100
I
50
250
NEW'
SALES
I
I
ORDERS
I
I
I
I
I
I
I
I
I
I
I
I
I
I
TEXTILES
UNFILLED
ORDERS.
200
150
100
I
50
JAN.-JUNE
AVG.
J
1950
A
S
O
N
D
J
I
F
M
I
I
A
I
M
I
J
J
I
A
I
S
I
O
I
N
D
1951
U. S. DEPARTMENT OF COMMERCE, OFFICE OF BUSINESS ECONOMICS
51-218
i Three months' moving averages centered at middle month except for July 1951, which are
averages of June and July. Unfilled orders are as end of month.
Source of data: U. S. Department of Commerce, Office of Business Economics.
September 1951
SUBVEY OF CUKRENT BUSINESS
variation extended not only to industry groups, but to
companies as well and even to divisions within companies.
This diversity is graphically illustrated in chart 3 by four
industries, each representative of a different "product mix"
as between defense and nondefense goods.
Producers of transportation equipment other than motor
vehicles—i. e., aircraft, railroad equipment and ships—constitute most nearly a "pure" defense industry. Here backlogs have soared more than 250 percent over the average for
the first half of 1950. Sales increased steadily but at a much
slower pace to a point some two-thirds above the rate in the
first half of 1950. Even though peacetime facilities were
largely usable for defense production, the engineering time
required for new models and other capacity bottlenecks
account for the current backlog equivalent to 3 years of sales.
Facilities of electrical machinery producers are also well
geared to defense and producers' goods output. For these
companies unfilled orders have advanced to nearly twice their
re-Korean value. In spite of the steady increase in back>gs, sales declined during the spring and summer about 10
percent from the March peak. Here the increase in the
deliveries of defense goods was insufficient to offset the
contraction in the civilian portion of their business.
In the two lower panels of the chart the pattern of unfilled
orders and sales is quite different from the transportation
equipment and electrical machinery groups. Sales of both
industries—furniture and textiles—are subject mainly to
fluctuations in consumer demand. For producers of durable
household furnishings, unfilled orders reached a peak in
February and declined thereafter. Defense orders constituted a very minor portion of total business of producers in
this group.
Backlogs of textile manufacturers reached their peak in
March at which point they were 2% times their pre-Korean
average. The sharp decline in new orders since February
appear to have eased during the summer as defense contracts were awarded in June and July to somewhat larger
numbers of textile firms.
While business dropped throughout the textile industry,
sales declines were especially drastic in the carpets and
E
floor covering group where July shipments were less than
half those of a year ago. Although Government contracts
have been secured by some mills, unfilled orders have continued downward, and in July were about one-third their
March peak and half that of last July.
For the industries shown on the chart as well as for those
not illustrated, unfilled orders movements have not anticipated changes in sales with any degree of accuracy in the
post-Korean period, as a result of the changeover between
defense and nondefense business which has already been
discussed. Where defense and other long-production period
contracts constituted a high proportion of total orders, their
predictive value for the spring downturn was somewhat
obscured.
The new orders series, which reflect to a greater degree
than unfilled orders the change in demand for items ordinarily sold from stock or with a short delivery period, performed their anticipatory function somewhat better than
unfilled orders. For manufacturing as a whole, new orders
reached a peak about 2 months earlier than sales. Looking
again at the chart, it is apparent for two durable-goods
industries—electrical machinery and furniture—that orders
began to move down while sales held steady for a couple of
months and then followed suit. In textiles, sales and orders
moved down simultaneously, since in a large area of this
industry deliveries are made immediately upon order.
The recent changes in manufacturers7 inventories reflect
the same picture. For nearly a year, manufacturers have
been adding to their stocks at an unprecedented rate, with
most of the accumulation in raw materials to the end of 1950,
in goods-in-process to the first quarter of this year, and in
finished goods in the second quarter. The substantial increase in finished goods inventories in the second quarter
was concentrated in consumer goods and was to a considerable extent involuntary in nature. By July, manufacturers
were able to adjust their civilian goods output more in line
with demand and as a result the month's accumulation
amounting to $450 million was the smallest in 11 months,
with very little in finished goods. Most of the increase
occurred in defense goods-in-process.
Capital Goods Programs Show Effects of Defense Effort
The impact of the advancing defense program on fixed
investment clearly emerges in the latest survey of spending
intentions by business. Though plant and equipment
expenditures seasonally adjusted are expected to reach a new
high in the final quarter of this year, there has been a general
slowing of investment growth—with the degree of retardation within industries varying inversely with the extent of
each industry's participation in the mobilization effort.
The differences among industries primarily reflect the
allocation of critical materials and direct construction
controls—with a lesser role played by the recent easing in
consumer demand.
Reports submitted by nonagricultural business during
late July and August, in the joint survey by the Office
of Business Economics and the Securities and Exchange
Commission, indicate a seasonally adjusted annual rate of
fixed investment of almost $27.5 billion in the fourth quarter
of this year. This compares with rates about a billion
dollars and $2.5 billion lower, respectively, in the third and
second quarters of 1951. The anticipated rise in investment in the second half of this year results from increasing
outlays by defense and defense-supporting industries which
are not expected to be fully offset by the tapering off of
expenditures in nondefense areas.
It should be pointed out, however, that the allocations of
steel (particularly of structural shapes) and of copper and
aluminum in the fourth quarter may have been more stringent than contemplated by businessmen at the time they
reported their scheduled outlays. These investment goals
can possibly be attained by making significant inroads into
inventories of these critical materials. However, in view
of the uncertainties of future allocations there is some question as to businessmen's willingness to seriously deplete
these stocks in any short period of time. In general, current investment programs are supported by a large volume
of governmental aids as well as a satisfactory earnings and
sales position—so that delays in achieving these programs
would result in some overflow of capital goods demand into
1952. ^
It is interesting to note that the implied annual investment for 1952 and 1953 in attaining the capacity expansion
goals in such programs as iron and steel, copper, aluminum,
electric power, petroleum and freight cars is higher than
current investment rates. While this lends considerable
strength to the capital goods demand situation next year,
nondefense capital outlays will probably be substantially
reduced. The netting of these divergent trends will depend
to a large extent on the availability of materials.
SUEVEY OF CUEEENT BUSINESS
6
Current investment progams
Chart 5.—Business Expenditures for New Plant and
Equipment1
Actual outlays of $6.3 billion in the second quarter of this
year and preliminary estimates of $6.8 billion in the third
quarter are respectively 3 percent lower, and 6 percent
higher, than those anticipated in a survey 3 months earlier.
These revisions are about in line with the systematic adjustments during these periods that are found in earlier surveys
in this series—and suggest that up to now the defense program has not diverted resources from capital goods supply to
a much greater extent than had been anticipated by
businessmen.
The downward adjustment between anticipated and actual
outlays in the second quarter occurred in every major industry except the commercial and miscellaneous group. The
revision in third quarter plans was upward in manufacturing,
mining, and the electric and gas utilities, and downward in
transportation.
Differential
September 1951
Billion Dollars
30
10 -
investment trends by industries
As can be seen in chart 5, the increases in capital outlays
during 1951 are almost entirely due to manufacturing.
Within the nonmanufacturing sector, moderate increases in
fixed investment anticipated in the final half of this year by
electric and gas utilities and railroad and mining companies
1950
|
1951^
are about offset by expected declines in expenditures by
QUARTERLY TOTALS, SEASONALLY ADJUSTED, AT ANNUAL RATES
commercial and miscellaneous industries. Capital outlays
51-217
in the latter group after a peak second quarter are expected
to taper off in the third quarter and to decline at an acceler1
Data exclude expenditures of agricultural business and capital outlays charged to current
account.
ated rate in the fourth quarter—reflecting in large part the
2
Data for the third and fourth quarters of 1951 are based upon expenditures anticipated
stringent controls now in force on commercial construction.
by business in late July and during August.
Eailroad and mining companies expect their capital exSources of data: U. S. Department of Commerce, Office of Business Economics, and
Securities and Exchange Commission.
penditures to increase throughout 1951. The electric and
gas utilities anticipate a leveling out of outlays somewhat
apparel, lumber and furniture began their decline one or two
above first-half rates—while planned outlays of transportaquarters earlier. Most other industry groups anticipate
tion companies other than the railroads indicate stability
record capital outlays in the fourth quarter. Among the
throughout 1951.
latter groups, however, there is evidence of slackening in the
rate of investment increase for each industry except those
Expansion in manufacturing capacity
most closely related to the mobilization program; e. g.,
Manufacturers expect additions to productive facilities at
primary steel and nonferrous metals, nonelectrical machinery,
a seasonally adjusted annual rate of over $15 billion in the
nonautomotive transportation equipment and rubber.
fourth quarter of this year—more than double in dollars,
A slackening in the rate of increase in investment occurred
and about four-fifths higher in physical additions to plant
in the third quarter for each asset-size group—while only
and equipment, than the immediate pre-Korean rate. While
the largest size group was anticipating a rise in investment
almost every major industry and each size group of firms
rate from the third to the fourth quarter. Medium size
is contributing to this increase in capacity, investment profirms expected a moderate decline and the plans of the
grams for the second half of this year show divergent patterns
smallest size group indicated a more substantial decrease.
related both to size of firm and to extent of defense activities.
For all quarters of 1951, however, there was a direct relationExpenditures in such nondefense industries as food,
ship between size group and relative change in plant and
tobacco, and stone, clay and glass are expected to turn down
equipment expenditures—i. e., the larger firms showed larger
in either the third or fourth quarter of this year—while
proportionate increases than did the smaller firms.
U. S. DEPARTMENT OF COMMERCE. OFFICE OF BUSINESS ECONOMICS
Table 1.—Expenditures on New Plant and Equipment by U. S. Business 1945-51
[Millions of dollars]
1951
1950
Item
M anuf acturing
^Mining
Railroad
Other transportation
Electric and gas utilities
Commercial and miscellaneous 3
Total
1
2
_
_
_ _ _
-
1945
1946
1947
1948
1949
1950
1951 2
3,210
440
550
320
630
1,480
5,910
560
570
660
1,040
3,300
7,460
690
910
800
1,900
4,430
8.340
800
1,320
700
2,680
5,390
7,250
740
1,350
520
3,140
5,120
8,220
680
1,140
440
3,170
4,920
6,630
12, 040
16, 180
19, 230
18, 120
18, 560
Data exclude expenditures of agricultural business and outlays charged to current account.
Anticipated expenditures for the third and fourth quarters of 1951 were reported by business in late July and during August.
3
Apr.June
JulySept.2
Jan.Mar.
Apr.June
JulySept.
Oct.Dec.
Jan.Mar.
12, 830
870
1,580
520
3,680
5,360
1,520
150
230
80
650
1,060
1,860
160
300
90
760
1,160
2,050
180
290
120
820
1,240
2,790
200
320
140
940
1,440
2,460
180
300
120
750
1,340
3,140
200
410
140
890
1,470
3,650
240
400
120
1,030
1,360
3,580
240
460
140
1,010
1,180
24, 830
3,700
4,330
4,700
5,830
5,160
6,250
6,800
6,610
Oct.Dec.2
Data include trade, service, communications, construction, and finance.
Source: U. S. Department of Commerce, Office of Business Economics, and Securities and
Exchange Commission.
SUEVEY OF CUEEENT BUSINESS
September 1951
1951 investment programs
Plant and equipment expenditures for the full year 1951
are currently scheduled at $24.8 billion (see table 1). It
would be expected from past experience with these surveys
that accounting adjustments at the end of the year may
raise this total by about $0.5 billion. On this basis capital
outlays this year would be somewhat over 35 percent higher
than 1950 in dollar terms—and one-fourth more in physical
volume.
Plant expenditures for 1951 are scheduled to rise somewhat more relative to last year than are equipment outlays.
A notable exception are the railroads where greater emphasis has been placed on equipment acquisition, particularly
freight cars.
While all major industry groups are contributing to the
increase in plant and equipment expenditures from 1950 to
1951, none approach the 60 percent increase in dollar outlays
expected by manufacturers. The relative increases in ex-
penditures anticipated by the railroads and mining companies were, respectively 35 and 30 percent. Outlays by the
electric and gas utilities and the nonrail transportation group
were each scheduled at about 18 percent higher, and planned
outlays by the commercial and miscellaneous group indicated
a rise of slightly over 10 percent.
All major industries within manufacturing except apparel
and lumber products indicated intentions of investing more
in 1951 than in 1950. These increases ranged from modest
gains in such industries as food and printing and publishing
to the stepping up of investment by 300 and 400 percent,
respectively, in nonautomotive transportation equipment and
primary nonferrous metals. Scheduled outlays in 1951 by
nonelectrical machinery manufacturers were almost triple,
and by primary iron and steel about double, 1950 rates.
Investment by oil companies was expected to be up by almost
40 percent, while advances by most other major industries
were in the 50 to 80 percent range.
Expansion of Electric Power Use and Capacity
Industrial expansion induced by the military procurement
program is bringing a large rise in electric power requirements over and above the long-term growth pattern of the
industry. The new demands for electricity
have caused
steady upward revisions in producers7 plans for future power
expansion. Such plans for increased capacity will result in a
continuation of the rapid growth which has occurred in the
industry since 1946.
This advance in requirements for new facilities has been
necessary despite the large capital expenditures by the industry. During the postwar years such spending has averaged more than $2 billion per annum. Since 1947 about
14 percent of all industrial plant and equipment expenditures has been made by the electric power industry. This
proportion compares with an average of 9 percent per year
in the prewar period and 6 percent during the war years.
for ingot production alone, and the paper industry 3.5 billion
kilowatt-hours.
Accelerating rate of power use
An estimate based on these requirements and the assumption of a continuing normal increase in the use of electric
power by other industries suggests a rise in the annual rate
of electric-power consumption for all industries of about 12
percent per annum over the next 2 years, as compared with
an average of 7 percent for the period from 1922 through
early 1951.
Chart 6.—Consumption of Electric Energy by Large Light
Power Users 1
BILLIONS OF KILOWATT-HOURS (RATIO SCALE)
Rise in demand stimulates capital investment
The upward movement in power use since World War II
represents a continuation of the rapid growth which has
characterized the electric power industry since its inception.
In the past 30 years effective demand for electric power has
increased more than sevenfold. This expansion is shown
in table 4 broken down into four major groups whose component parts have had similar growth patterns.
Large light and power users in 1950 accounted for 58
percent of the total consumption of electric power in the
United States. This group includes all major industries
and other large consumers such as institutions, commercial
establishments, and multiple-housing units. Industrial use
is by far the most important and is primarily responsible
for the fluctuations of the group as a whole. As can be
seen in chart 6, changes in the amount of power required
by industrial users tend to follow the cyclical movements
in the national economy.
Announced plans for expansion in industries using large
amounts of electric power indicate a marked increase in
their power requirements. A calculation of future needs
based upon announced tonnage expansions indicates that,
at capacity operations, the aluminum industry will require
an additional 9.5 billion kilowatt-hours per year by January
1, 1953, the magnesium industry an additional 2 billion
kilowatt-hours, the steel industry 7.3 billion kilowatt-hours
300
200
40
30 M I MM M
19*22
25
IN I I M
3*0
M
35
It
I I I II
4*0
I III I I I III I I I I
4*5
U. S. DEPARTMENT OF COMMERCE, OFFICE OF BUSINESS ECONOMICS
5*0
5*5
51-186
1
Includes production of user-owned plants, published by the Federal Power Commission.
Figure for 1951 is a total of the first 6 months raised to an annual rate.
Sources of data: Edison Electric Institute except for 1922-27, which are from Electrical World
Magazine.
SURVEY OF CURRENT BUSINESS
8
September 1951
Chart 7.—Generating Capacity of All Power-Producing Plants by Type of Owner 1
A forty percent expansion in capacity by the end of 1953 is the goal for electric utilities.
MILLIONS OF KILOWATTS
100
80
TOTAL CAPACITY
60
40
PRIVATELY-OWNED UTILITY
20
I
1920
22
24
26
28
30
32
34
36
38
40
42
44
46
48
50
I
52
U. 5. DEPARTMENT OF COMMERCE, OFFICE OF BUSINESS ECONOMICS
1
Data are for end of year except for 1951, which are as of July 31. Prior to 1936 yearly data are not available for "total" capacity.
Sources of data: Actual capacity, Federal Power Commission; projected capacity for "total" utilities, Federal Electric Power Administration.
The domestic users category of table 2 includes rural
consumers and all residential users other than large dwelling
units with master meters. Since 1945 the energy consumption by domestic users has been increasing at the rate of 15
percent per year. The boom in housing construction, record
appliance sales and farm mechanization have contributed
largely to this great demand for power.
Neither small commercial and industrial users nor the
public service group has shown any marked change in the
rate of increase in electricity consumption since the war.
An estimate of future power use can be made by utilizing
the expansion programs of industry and on the assumption
of the extension of past growth trends for other consuming
groups. To the normal rate of increase for domestic and
"small" users is added some allowance for expansion in
public service consumption due to an expected rise in demand for public services. The industrial growth described
above is included. Using these projections, an estimate of
475 billion kilowatt-hours total use per year by December
31, 1953, may be obtained. This demand would be nearly
two-fifths above that of 1950 and one and a third times
greater than the peak war year. This projection suggests
a very large requirement for additional electric power
capacity.
Expansion programs of the industry
The total capacity of electric energy-producing facilities,
including both utility and user-owned, as of July 1951 was
87 million kilowatts, as against 20 million in 1922, As shown
in chart 7, since 1947 the annual expansion of capacity has
been very rapid.
Planned expansion reported by Class I utilities to the
Federal Power Commission is estimated to increase capacity
for this group (which at present has 80 percent of total
capacity) to 93 million kilowatts by the end of 1954, according
to the following schedule:
Million
kilowatts
March 1951
April-December 1951
1952
1953
1954
,_ - _
67
73
81
90
93
Such plans change rapidly so that these data are not forecasts of actual future capacity, particularly for the more
remote dates. Between the last quarter of 1950 and the
first quarter of 1951, 6 million kilowatts were added by Class
I utilities to plans for expansion by the end of 1954. Realization of construction programs is dependent also in the near
term upon the ability of the industry to secure equipment and
materials in view of competing needs from other segments
of the economy.
Growth in power use need not be matched exactly by
additional capacity, especially when the needs for the country as a whole are considered. Some part of increased
demand can be met by staggering peak loads within an
area and by pooling the reserves of several power-producing
plants.
There are at least two methods used to gauge the adequacy of capacity in relation to sales for the electric power
industry, namely: (1) The use of the plant factor, and (2)
the use of peak load in relation to available capacity. The
first, or plant factor, is the ratio of actual production to
capacity operation at 100 percent throughout the year
without regard for shut-downs and necessary reserves. As
shown in table 3, this ratio for utility and user-owned producers combined has tended to rise sharply since 1937,
reaching a peak of 57.0 in 1948. The leveling off of the
SURVEY OF CURRENT BUSINESS
September 1951
economy in 1949 resulted in a decline, but the plant factor
rose again in 1950 to 55.4.
For the utility group alone, the plant factor was 60 percent
in 1950—higher than in any earlier year. This is substantially above the range at which the industry considers it has
a safe operating reserve.
The estimated production by the end of 1953 compared to
the present planned capacity for that year would result in
a plant factor of 57, equal to the high reached in 1948, for
utility plants and user-owned combined.
Table 2.—Use of Electric Power
•
[Millions of kilowatt-hours]
Year
1951 2
Large light
and power * Domestic
Small light
and power
__
Public
service
Total
216.6
87.2
55.8
18.3
377.9
1950
1949
1948
1947
1946
198.0
174.7
178.2
165.2
145.3
74.4
65.5
57.3
49.7
43.0
50.4
46.3
43.2
38.4
33.0
16.6
16.0
16.2
16.0
15.9
339.5
302.5
294.9
269.2
237.2
1944
1940
1936
1932
1929
166.5
97.6
75.3
50.9
67.5
34.6
25.3
17.1
13.1
11.1
29.8
22.4
15.6
12.1
13.1
18.5
11.4
8.6
7.6
8.1
249.5
156.7
116.7
83.7
99.9
NOTE.—Detail does not always add to total due to rounding.
public utilities of 97 million kilowatts by the end of 1953—
as compared with 73 million in July 1951. The industry
has plans now for 90 million kilowatts.
Problems in meeting expansion goals
To meet either the current program of the industry or the
higher goal suggested will require some help for the industry
in securing the required resources for the purpose. Within
the last few months deliveries of turbines and other goods
essential to expansion have been behind schedule. Manufacturers of capital goods for the electric industry have
encountered material shortages, particularly in copper and
steel. Aluminum can be, and to some extent is being, substituted for copper in transmission lines, but aluminum is
also in short supply, and expansion in output to produce an
adequate supply of aluminum itself requires large amounts
of electric power.
Not only have past material shortages affected the installation of new capacity but this situation may continue to be a
limiting factor in attaining capacity increases. Original
allotments under the third quarter Controlled Materials Plan
were revised upward, but the industry reports that shortage
of materials has affected both the equipment and construction phases of the industry. Immediately, cutbacks in construction materials present the more serious problem. To
alleviate this in part the National Production Authority
1 Includes user-owned production.
Annual rate based on first 5 months of 1951.
2
Table 3.—Annual Plant Factors by Type of Owner
Source: Edison Electric Institute; user-owned production, Federal Power Commission.
The second, or peak load, consists of the highest actual
use per hour in any 24-hour period and this is usually compared with the net dependable capacity—i. e., the available
capacity after allowing for the necessary shut-downs and
reserves. A reserve of 15 percent above the peak load is
generally believed to be a safe operating margin. With
expansion of demand greater than that of capacity, the
reserve ratio has not been this high. Although there has
been no general shortage, in some highly industrialized areas
the narrow margin has meant a shortage of power at peak
load and a consequent curtailment of normal operation in
companies dependent on electric power. In 1950, the peak
load was 64.2 million kilowatts compared with a net dependable capacity of 68.2 million kilowatts. In 1953, the peak
load is projected at 85.5 million kilowatts, one-third higher
than the 1950 peak.
After examining peak load requirements and other elements
in the electric power outlook, the Defense Electric Power
Administration has suggested a capacity goal for Class I
[Ratios]
Combined
utility
and userowned
plants
Year
1950
1949
1948
1947
1946
1945
1944
1943
1942
1941
1940
-
-
-
Utility
Userowned
55.4
53.7
57.0
54.8
48.9
59.9
55.5
59.2
56.9
50.7
49.2
46.6
47.7
46.3
41.7
49.6
51.5
51.9
47.9
45.3
51.2
53.5
53.5
48.6
45.7
43 4
46.0
45 9
45.3
43.9
40.9
41.0
40 2
Source: Basic data, Federal Power Commission; Combined and user-owned factors computed by U. S. Department of Commerce, Office of Business Economics.
granted the Defense Electric Power Administration an additional 15,000 tons of structural steel, over the original fourth
quarter allotments.
The Balance of International Payments During the
Second Quarter of 1951
The balance of payments showed a considerable shift
during the second quarter of 1951 from the pattern characteristic of the period from the end of 1949 to March 1951.
A rise in exports of goods and services by about $900 million
brought the export surplus back above the amount of Government aid to foreign countries. A substantial outflow of
private United States capital, however, not only made it
possible to finance the remainder of the export surplus but
even facilitated a further rise of about $170 million in foreign
reserves and other dollar assets. This increase represents,
however, a sharp drop from the accumulation of about $850
million in foreign reserves and other dollar assets through
transactions with the United States during the first quarter
of the year. The developments which are responsible for
this change continued after the second quarter as is indicated
by the resumption of gold sales and withdrawals from their
2
963298°—52
dollar deposits by foreign countries during July and August.
For various reasons discussed below, mainly the development of supply stringencies in this country, nonmilitary
exports—with the possible exception of those to Europe—
are likely to recede from the value reached during the second
quarter, so that the rising dollar deficit of the other countries,
at least, may prove to be of relatively short duration.
Exports of goods and services near postwar peak
Exports of goods and services reached a peak of over $21
billion at an annual rate, about the same amount as during
the record second quarter of 1947. Even omitting income
on investment, which was about $180 million higher than
during the second quarter of 1947, and exports of goods and
services under military aid programs, which accounted for
$420 million, one would still have to go back as far as 1947
SUEVEY OF CURRENT BUSINESS
10
to find equally high exports of the remaining goods and
services.
Less than one-fourth of the rise in merchandise exports
from the first to the second quarter of 1951 can be attributed
to higher prices; more than three-fourths was due to an increase in the volume of goods bought here by foreign
countries.
In order to analyze the changes in exports several important categories may be separated: (1) military goods, (2) foodstuffs, animal feeds and fuels, (3) metals and manufactures,
including machinery and tractors, (4) manufactured textiles,
automobiles including parts, and various consumer goods.
Of the total increase in merchandise exports, as recorded
by the Bureau of the Census, of nearly $700 million, about
$100 million consisted of "special category I" commodities,
mainly military goods. Foodstuffs, feedstuffs, and fuels accounted for over $300 million. Metals and manufactures,
including machinery, tractors and trucks, rose by about $100
million, and textiles, passenger automobiles (including parts)
and various other consumer goods also by $100 million.
September 1951
The relatively large proportion of military goods and
essential foodstuffs and fuels (57 percent) in the export rise
was not only a short-run development. Of the $1.5 billion
rise in exports from the second quarter of 1950—just prior
to the invasion of Korea—to the second quarter of 1951,
$820 million or 55 percent consisted of the same types of
goods, and the other categories also comprised about the
same proportion of the total rise as during the recent quarter.
These changes indicate that of the export rise during the
last year and also from the first to the second quarter of
1951 more than half was due to increased needs for the most
basic goods, including military. Except for the export of
military goods which was financed by special aid, the exports
of the other basic goods would probably have risen even if
the exchange position of the buying nations had not improved during the preceding period. The improved financial
position of the countries buying these goods enabled them,
however, to finance these purchases without curtailing others
or drawing upon their gold and dollar reserves.
Less than half of the export rise during the last year may
be considered to have consisted of goods which would
Table 4.—International Transactions of the United States, First and Second Quarters of 1951
[In millions of dollars]
Total
Item
II P
I'
Exports of goods and services:
Merchandise, adjusted
__
Transportation
Travel
__
_ _
Miscellaneous services:
Private
Government
Income on investments:
Private
Government _
_
Total
Imports of goods and services:
Merchandise, adjusted _ Transportation
Travel
Miscellaneous services:
Private
Government
Income on investments:
Private
Government . _ _
Total
Balance on goods and services*
Unilateral transfers (net) :
Private
__ _
Government:
Economic aid
Military aid
Other Government transfers-
3,414
284
83
ERP
countries
ERP
dependencies
Other
Europe
Canada
i-
i-
I'
I'
4,103 1,078
363 137
115
9
UP
1,421
183
13
II P
102
11
1
65
123
14
4
4 (')
155
43
162
47
67
25
2
70
31 (*)
1
366
30
457
13
30
24
38
6
14
24
4,375
5,260 1,370
1,762
130
166
3,217
221
120
3,122
238
169
537
103
18
531
124
56
305
4
13
273
4
11
65
206
66
219
54
72
54
76
4
74
12
91
10
57
3
64 (*)
3 (*)
3,915
3,915
844
+460 +1, 345 +526
-112
-104 -51
-712
-311
-12
—792 -562
-415 -244
-22 +5
908
326
(*)
-49
-3
-353
—383
+122
-121
-152 +61
+263 -77
Gold (purchases (-); sales (+))
+893
+55 +593
Transfer of funds between foreign
areas (receipts from other areas
(— ), payments to other areas
(+) ) , and errors and omissions
+146
r
Revised.
1
_ _ _
-2
+205 -249
w
949
92
31
677
46
5
745
52
7
2
17
1
20
1
32
6
33
7
21
11
22
8
14
85
122
00
149
2
166
4
85
2
106
2
3
(*)
14
i-
UP
Other
United
ERP
Kingdom countries
dependencies
All
other
countries
i-
i-
i-
UP
162
36
3
196
36
5
14
1
52
3
52
3
42
3
43
2
2
46
1
55
20
1
16
578
708
267
298
17
596
38
17
676
49
23
116
31
3
131
42
9
4
1
94
796 1,000 1,142 1,282
847
942
17
62
2
59
1
539
28
22
584 1,074
27
71
52
63
911
68
45
688
13
4
764
14
5
12
2
1
2
4
8
4
9
5
8
5
8
2
110
2
119
2
1
47
20
47
22
46
14
46
15
13
4
21
3
2
1
3
1
2
2
2
1
35
34
2
31
(*)
31
2
821
907
16
3
749
852
241
277
X
66
63
618
700 1,224 1,041
+7 +31 +178 +300 -82 +241
-8
-7
(*)
-25 -23
(*)
(*)
(*)
-3
-2
-7 -13 -39 -29
-3
-2
-2
+26 +35
-2
+1 +11
-1
UP
53
3
176
11
2
1
1
7
12
19
14
20
19
63
83
210
286
3
1
2
219
2
12
192
2
10
257
4
2
350
4
2
1
2
1
2
266
359
1
. (*)
2
00
3
6
8
-6
-8
-2
-2
-92 -61 -86 -51
0) 0) (0
0)
—1
—1
-3
-8
0)
(*)
-5 -277 -224
236
0)
(*)
-67 -39
-3
0)
-10
+6
0 -38 +17 -12
+15 +1
+4 —26
+6 +5 (*) -28 -148 +1 -1 +1 +12 +81 -36
-8 -102 +29
-6 —22 +8 -68 +185 +65 +51 +109
+43 +4 +41 +2
-17 -32 -22 -31
+1
-19
+96
+1 00
+9 +407 +67 +406 +80
+1
+9
+74 +208 +142
+30
00
-1
+9 +235 -75 +43 +15 +14
208
-4
(*)
0)
-2
0
0)
(*)
-5
-4
-2
0)
-6
-14 -34 -12 -11
+10 -3 -12 -20
-t -7 +3
+12 -10 +19 -12
+1 +6 +10 +12 -7 -3 -2 -2
-1 (*)
0 (*)
+1
+1
00
00
(*)
-7
+7 -12 +13 -15 -58
1
+1 -176 -129 -61 -79
203 -194 -62 -67 -83 -52
-1
3
-4
-3
-4
(*)
240
15
3
1
-44 -57 -66 -48
+18 +1 -10
-36 -11 -9 -4
0 +2
(*)
-110
-35
-48
-1
II P
44
5
1
16
2
(*)
-12 -18 -227 -219 -15 — 16 -106 -80 -93 -60
-94 +223 -201 -184 -14
ERP
171 -144 +26 +21 +11 +11 -173 -125 -56 -73
-13 -18
-4 -108 -146 -14 -16
-67 -32
-1 -13 -12 («)
II P
527
60
11
2
14
I'
417
53
6
73
+6 -18 -139 -13 -136 +115 +248 +73 +10 -156 +223 -375
» Preliminary.
* Less than $500,000.
The data for the total sterling area, but not for the United Kingdom and other component
areas, are adjusted to include "special category" exports purchased for cash. Military aid
nnrlo-r
tVio "TVTiThial
A ssist.anr»A "PrnpTJvm"
St.prlincr area
arpa prmntripc
cVmwn
under the
"Mutual TIpfpriQp
Defense Assistance
Program" tn
to Sterling
countries IG
is nr»t
not shown
II P
856
72
25
A
Total
I-
781
17
59
-1,147 -1,333 -852 -1,042
3 -4 -33 -30 -5 -4
Total
Balance on goods and services and
unilateral transfers (total equals
net foreign investment)
_ _ __ -687 +12 -326
-188 -199 -131 -26 +1 +173 +296
United States capital (net):
-300 -304 -25
+2 +10
Private long-term __ _ - +13 +5 -83 -194
-23 +10
-3
-3 +5 -16 +25 -9
Private short-term
+6
o
-67
-57 +5
Government long-term
0 -3 -5 -6
(*)
+8
Government short-term
0
+1 -1
+1 +8
Foreign capital (net) :
Long-term
Short-term
UP
I'
636
14
43
1
-4
UP
Total
1
1
4
293
i-
UP
Sterling area
International
Institutions
84
5
1
2
(*)
+854 -196 -127
-603
-383
-7 (*)
II P
Latin
All
American
other
Repub- countries
lics
0
-7
+1
-3
+8
-6 -18 -17
+3 +1
—4 +24
+1 00
+2 +185 +135
-1
+3
14
+54 +108
separately but is included in the military aid to ERP countries, etc. For the definition of
"special category" goods see Foreign Trade Statistics Notes for September 1950, published by
the Bureau of the Census.
Source: U. S. Department of Commerce, Office of Business Economics.
September 1951
SURVEY OF CURRENT BUSINESS
probably not have been bought here if the foreign exchange
position of the purchasing countries had not previously
improved.
A part of the rise from the first to the second quarter in
exports of foods and fuels was due to more or less temporary
circumstances, such as the seasonal increase of coal shipments
to Canada, which accounted for $40 million, and the grain
shipments to Europe and India to the extent that they
resulted from bad harvests in various parts of the world in
1950. However, some of these shipments, particularly to
India, are expected to continue for several months. A part
of the rise, primarily that in coal exports to Europe and in
petroleum products, reflects developments which are likely
to be longer lasting, however.
Among these are the increased fuel requirements abroad
resulting from higher industrial activity and increased
difficulties in obtaining supplies from customary sources
such as eastern Europe. The conflict in Iran resulting in
the cessation of oil shipments from that country did not
affect the second quarter data but is likely to accentuate
foreign fuel demands from the United States. These
developments indicate that the hard core of essential dollar
requirements of certain foreign countries is again increasing,
thus reversing a trend which prevailed from the immediate
postwar period until the middle of 1950.
Machinery exports affected by rearmament needs
Exports of metals and manufactures, including machinery
but excluding automobiles and military goods, represent
most of those goods which are required for replacement or
expansion of productive facilities abroad. Exports of such
goods rose from the second quarter of 1950 to the second
quarter of 1951 by about 30 percent, only about half the
percentage rise in total exports. Although the rise in exports
of these products accelerated from the third quarter of 1950
to the end of the first quarter, there was no further increase
after March or April. This may be due to increasing supply
stringencies. The greater difficulty of obtaining delivery on
such commodities is also indicated by the recent lengthening
of the average delivery period of machinery ordered under
EC A programs. Some of the supply bottlenecks on exports
necessary for the production of defense materials abroad or
for the maintenance of facilities essential for foreign economies
may be overcome by export allocations under the controlled
materials plan which went into operation on July 1.
Consumer demand declines in some foreign
countries
Exports of textiles manufactured of cotton and synthetic
fibers reached their peak in March. Exports of passenger
automobiles, trucks and accessories did not increase after
April. In both fields supplies became more readily available
in the United States and continued to rise during the quarter.
This seems to indicate a decline in demand in some foreign
countries, probably for the same reasons that were responsible
for the somewhat earlier decline in demand in the United
States.
This appears to be the case mainly in countries which did
not have exchange restrictions or which relaxed them at an
earlier date, such as Canada, Cuba, Venezuela, and Brazil.
These countries accounted for about one-third of our exports
of textiles and 50 percent of our exports of automotive
products during the first quarter of 1951. Countries which
have relaxed exchange restrictions at a more recent date,
such as Argentina and various countries in the Far East,
increased purchases of textiles and automotive products here
throughout the second quarter, thus largely offsetting the
decline in shipments to the other group.
11
ERP countries obtain more basic materials
The rise in exports of goods and services to the ERP
countries—$400 million from the first to the second quarter
of 1951—consisted of $130 million of goods and services
supplied under the Mutual Defense Assistance Program.
Of the remaining $270 million, about $170 million was
accounted for by exports (including freight in United
States vessels) of foodstuffs, feeds and fuels. About half of
the remainder was due to increased exports of cotton.
Canadian demand parallels United States trend
More than half of the $145 million rise in merchandise
exports to Canada also consisted of foodstuffs and fuels.
To a large extent this rise was seasonal. Exports of industrial equipment rose until April and remained level during
the following two months. Exports of textiles and automobiles (including trucks and parts for assembly and
replacement) declined after March.
Aside from foodstuffs and fuels, Canadian import demand
appears to have paralleled, though with some lag, the domestic demand in the United States. The demand for steel
and machinery may be stimulated by the rearmament
program and private investments, including those required
for the production of critical materials. Supplies are limited,
however, by competing requirements in the United States.
Demand for consumer goods appeared to be declining, at
least temporarily, partly because of anticipatory purchases
after the middle of last year, and partly because of tightened
credit restrictions, which are more stringent than those in
the United States. Thus, total exports of civilian goods to
Canada appear to have reached a peak during the second
quarter. In fact, they had already declined from April to
June. In contrast, exports of military goods (which Canada
pays for) can be expected to rise.
Rise in demand by other countries continues
The demand for United States exports on the part of
Latin America, consisting largely of manufactured goods,
for both investment and consumption, was stimulated
largely by improved foreign exchange positions and may continue to rise for some time. The rate of the increase may
lessen, however, as some of the demands become satisfied,
as is indicated by declining exports to those countries which
never had exchange restrictions or which relaxed them at
an earlier date. It is difficult at this time to determine
whether supply stringencies in the United States will actually curtail exports, or whether the demands themselves
will start to fall off before the supply difficulties arise.
The rise in exports of civilian goods to all other nonEuropean countries amounted to about $140 million from
the first quarter. Shipments under the MDAP program
declined, however, thus restricting the total export rise to
about $110 million. Among the civilian exports, the rise
in foodstuffs and fuels accounted for about 50 percent, the
rise in machinery and vehicles for about one-fourth. Most of
the remainder consisted of manufactured textiles and chemicals including fertilizer.
Exports of manufactured goods from the United States to
this group of countries started to rise much later than the
income of these countries from their exports. Because the
rise in purchases by these countries in the United States
continued throughout the second quarter, it is possible that
supply difficulties, especially in metal products, may arise
before the peak of the demand is reached.
Import rise interrupted
In contrast to the continued rise in exports of goods and
services, imports were maintained in the second quarter at
SURVEY OF CURRENT BUSINESS
12
the rate they had reached earlier in 1951 after a steady climb
since 1949. Merchandise imports actually declined, although
average import unit values—mostly on account of wool—
continued to move upwards. The import volume was about
10 percent below the previous quarter.
Coffee accounted for most of the decline in value, but there
was also a substantial decline in the import value of rubber
Table 5.—Exports of Goods and Services and Means of Financing
[In millions of dollars]
1951
Item
Exports of goods and services
First
Quarter T
__ _ _
Second
Quarter *>
4,375
5,260
3, 915
— 855
3,915
— 170
— 10
16
—3
1,035
59
1, 229
56
112
249
104
324
-146
-205
Means of Financing
Foreign sources:
United States imports of goods and ser vices _ _
Liquidation of gold and dollar assets
Dollar disbursements (net) by :
International Monetary Fund
International Bank
U. S. Government:
Grants and other unilateral transfers (net)
Long and short-term loans (net)
United States private sources :
Remittances (net)
Long and short-term capital (net) 1
Errors and omissions
_
_
10
r
Revised.
»1 Preliminary.
Excludes purchases and sales of obligations issued or guaranteed by the International
Bank. (See table 6, last line.)
Source: U. S. Department of Commerce, Office of Business Economics.
Table 6.—Movements of United States Long-term Capital
{In millions of dollars]
1951
Item
First
Quarter r
Second
Quarter »
Government:
Outflow
Inflow (repayments).
127
60
113
56
Net outflow
67
57
274
105
1171
196
379
367
Private:
Outflow:
Direct investmentsOther
Total outflow.
Inflow:
Direct investmentsOther
Total inflow.
30
49
0)
63
79
63
Net outflow of private long-term
capital (as in table 4)
300
304
Deduct:
Net purchases ( + ) and sales ( —) of
obligations issued or guaranteed by the
International Bank
+ 45
+3
Net outflow of private long-term capital
(as used in table 5)
255
301
r
Revised.
P Preliminary.
i Preliminary estimate for net outflow of direct investments.
Source: U. S. Department of Commerce, Office of Business Economics.
September 1951
and tin. The decline in coffee imports appears to be partly
seasonal. Imports of wool continued to rise but these imports reflected purchases during earlier months of the year.
Decline in raw material prices
Spot prices of selected imported goods continued to decline
as demands weakened. In August 1951 the spot price index
for selected commodities (see Survey of Current Business,
June 1951, p. 15, footnote to chart) returned to the September
1950 level. Due to the usual lag of the unit values behind
spot prices, the unit values for the same commodities continued to increase during the second quarter and as late as
June reached the point corresponding to the peak level of the
spot prices, which the latter had maintained from January
to March. During the coming months the declining prices,
mainly for raw materials, should, therefore, affect the actual
import figures.
The decline in prices was most important in the case of
rubber, tin and wool but was also substantial for cocoa, copra
and burlap. A very large proportion of the imports of these
commodities originate in the sterling area. Other countries,
mainly in the Far East, such as Indonesia, the Philippines,
and Siam are also considerably affected, and to a lesser
extent some of the countries in Latin America. Other Latin
American countries and Canada appear to be largely favored
by the price changes during recent months. Imports from
Europe, which is not an important supplier of raw materials,
are likewise unlikely to be adversely affected by recent price
developments.
In the aggregate, the price changes since March will hardly
reduce the average annual rate of the value of United States
purchases abroad below that during the first "post-Korea"
year. The relatively small effect of the recent price declines
on import values is due to the fact that even in August of
1951 the prices of these commodities were considerably higher
than at the outbreak of the war in Korea and that the large
purchases from July to September of last year were made at
lower prices than are prevailing now.
Foreign countries earn more from United States
service expenditures
Payments on services are gradually rising, mostly because
of rising expenditures abroad by the Armed Forces and their
personnel. During the second half of 1950 and the earlier
part of 1951 the rise affected mainly the dollar resources of
Japan and other Far Eastern countries. The rise in Europe
started later but can be expected to continue 1 onger.
Tourist expenditures were still below the seasonal peak
which will be reached in the third quarter. The second
quarter expenditure rate is, however, usually not much different from the average quarterly rate for the year as a
whole.
European deficit higher than aid available for
coming year
Even omitting the exports under the Mutual Defense
Assistance Program the surplus on goods and services with
Europe rose from the first to the second quarter by $200
million to an annual rate of nearly $2 billion. Although
some of the surplus is due to temporary factors, which are not
likely to be repeated during the following year, the increased
requirements for fuels (plus their transportation), the
necessity to replace to some extent Eastern Europe as a
source of fuels and foodstuffs, the usual upswing in cotton
and tobacco exports during the second half of the year and
the increased payments on interest are more likely to raise
European dollar requirements. Purchases of services and
of merchandise by the armed forces may, however, keep the
(Continued on p. 24)
By John W. Kendrick and Carl E. Jones
Gross National Farm Product
in Constant Dollars, 1910—50
jSTIMATES of the gross national farm product, introduced in this article, make possible a new evaluation of
trends in the farm economy. As the only set of estimates of
the gross national product in current and constant dollars
originating in a private industry, they also serve to illustrate
these concepts and point up the potential significance of the
gross product approach for analysis of other industries.
The new data also make possible segregation of the nonfarm
sector of the private economy for separate analysis when
desirable.
For purposes of eliminating the influence of price changes
by deflation, the product flow data are essential. Since the
gross national product of an industry does not measure
value of output, but only value added, price indexes cannot
be applied directly to it. Rather, the values of output and of
intermediate products, in as fine a product detail as possible,
are divided by appropriate prices received and prices paid
indexes. The difference between the two deflated totals
yields the constant dollar gross national product of the
industry.
SUMMARY
The gross national farm product differs in content and movement from measures of the total output of
farm products. As a value-added concept, the gross farm product measures only production actually
occurring on farms, without duplications. That is, the value of materials used up by farmers in the production process, such as feed, fertilizer, and motor fuel, is deducted from the value of total farm output to
arrive at the gross farm product. It is termed "gross" only because depreciation and other capital consumption allowances are not deducted. The value of materials used up in production, technically known as
"intermediate products," has risen greatly in recent decades relative to the value of total farm output.
Thus, gross farm product has risen significantly less than total farm output over the period 1910-50.
The average annual rate of growth in the real (constant dollar) gross farm product has been about
0.6 percent, approximately one-third the rate of increase in the real value of total farm output. The ratio
of real gross farm product to total real gross national product has dropped from almost 11 percent in
the pre-World War I period to less than 5 percent in recent years. The current dollar comparison shows
less of a drop, due to the large relative increase in prices received by farmers since 1939. The ratio of farm
product to total product in current dollars for recent years has been around 9 percent.
Farm labor productivity, as measured by the ratio of real farm product to man-hours worked, has risen
by about 1.3 percent a year, as the man-hours worked on farms have declined substantially over the period.
When account is taken of the inputs of capital and land as well as labor, the resulting composite farm productivity measure shows a smaller rate of increase than labor productivity alone. Productivity gains have
been due mainly to the increasing quantity and quality of farm machinery and equipment, and the progressive application of scientific advances by farm management, resulting in higher crop and livestock yields.
General nature of concept measured
Illustration of results
Gross national product originating in farming, or any other
single industry, measures the value added by the industry to
the products it consumes in production. While "gross" of
capital consumption, it is net in the important sense that
there is no double counting of products raised by farmers, or
purchased from other industries, for use in further farm
production.
Industrial gross product can be computed by the "product
flow" approach by deducting the value of such purchased
intermediate products, charged to current expense, from the
value of total output. The result should be the same as that
obtained by adding the incomes accruing to the factors of
production in the industry—its national income—to nonfactor charges against the total value of output, chiefly
indirect business taxes and depreciation.
The general concepts and methodology underlying the
estimates of gross national farm product in current and
constant1 (1939) dollars are illustrated in the accompanying
tables.
The estimates of the various components used to
arrive at the current dollar national farm product and
income are almost entirely those of the Bureau of Agricultural
Economics of the U. S. Department of Agriculture (B. A. E.)
arranged according to the Department of Commerce concepts. 2
The basic components of total farm output are shown at
the top of table 1. To sales, as represented by cash receipts
from farm marketings and Commodity Credit Corporation
loans, is added the imputed value of food and firewood consumed on the same farms where they are produced. The
NOTE.—MR. KENDRICK AND MR. JONES ARE MEMBERS OF THE NATIONAL ECONOMICS DIVISION
OF THE OFFICE OF BUSINESS ECONOMICS. The authors wish to express their appreciation to
members of the National Income Division and of the Bureau of Agricultural Economics,
U. S. Department of Agriculture, who have provided unpublished materials, and aided in the
clarification of concepts and procedures.
1 Technical notes describing in detail the derivation of the current dollar estimates and the
deflation procedures are available on request. The 1951 "National Income Supplement"
to the Survey explains the concept of the national income and product originating by industry
in greater detail than is possible here.
2 The underlying B. A. E. data are described in "The Agricultural Estimating and Reporting Services of the U. S. Department of Agriculture."
13
SUKVEY OF CURRENT BUSINESS
14
adjustment for the value of the net change in all farm
inventories is necessary to convert the sales figures to a
commodity output basis. The gross rental value of farm
homes is added to obtain the value of total farm output, in
accordance with the B. A. E. practice and the Standard
Industrial Classification.
The intermediate product deduction from the value of
total output consists chiefly of current expenses for feed and
livestock, seed, fertilizer, operation of motor vehicles, irrigation, and other purchased items. Purchases by one farmer
from another are included, although intermediate products
raised and used in further production on the same farm are
not included since they do not appear in cash receipts. The
bulk of purchased materials represents production, or value
added, by nonfarm industries. Gross rents paid to nonfarm
landlords, shown separately, are also counted as an expense
to farmers, since only the rental value of farm-owned property
is considered to originate in the farm sector.
The items which reconcile the gross national farm product
with the national farm income estimates, previously published for the period since 1929, are shown separately. The
discrepancy is small, since both series are derived from the
same basic data, with a few minor exceptions. Due to the
previous availability of current dollar farm income estimates,
the analysis in this article will center around the constant
dollar figures.
The implicit price deflators for the major product flow
groupings are shown in table 2. Actually, price deflation
was carried out in much greater detail, based largely on
GROSS NATIONAL FARM PRODUCT
September 1951
B. A. E. indexes of prices received and paid by farmers.
The implicit price deflators are the quotients obtained by
dividing the sum of the deflated product subgroups into the
current dollar total for each group, and thus reflect shifting
output and business expense patterns of farmers in addition
to price changes.
The constant dollar gross farm product estimates are
shown in table 3. The year 1939 was chosen as a base for
the sake of consistency with the over-all deflated gross
national product estimates contained in the, 1951 "National
Income Supplement" to the SURVEY OF CURRENT BUSINESS.
The base year selected inevitably influences the movement of
real farm product to some extent, but the broad conclusions
drawn from the 1939 dollar estimates would not be changed.
Movements of Gross Farm Products, 1910-50
After adjustment for price changes, the gross farm product
has shown a fairly regular upward trend over the past four
decades, as can be seen in the accompanying chart. Real
farm product has been little affected by the business cycle
since changes in the demand situation generally work themselves out, through prices, on farm product in terms of current
dollars. To some extent, however, the general level of farm
output during the middle 1930's was probably lower than it
would have been had effective demand been higher, and
certain types of farm production not subject to restrictions.
Occasional erratic year-to-year fluctuations in the volume
measure are generally a reflection of unusual weather conditions. For example, the series clearly reflects the influence
of the drought years 1934 and 1936, as well as the favorable
weather that prevailed during World War II. Partial data
indicate that 1951 will see a new record in farm production.
IN CURRENT AND CONSTANT (1939) DOLLARS
Secular growth of farm product relative to total
BILLIONS OF DOLLARS (RATIO SCALE)
30
20
CURRENT DOLLARS
10
9
8
7
6
V
CONSTANT DOLLARS
4
M I
19*10
I I M I I I I I I I I I I I
15
2*0
2*5
I I I I M I I I I I I I I I I I I I I I
3*0
3*5
4*0
4*5
50
U. S DEPARTMENT Of COMMERCE, OFFICE OF BUSINESS ECONOMICS
Source of data: U. S. Department of Commerce, Office of Business Economics, based upon
data from U. S. Department of Agriculture, Bureau of Agricultural Economics.
Between the two sets of years 1910-14 and 1945-49, real
gross farm product increased approximately 20 percent. A
straight-line time trend, fitted to the logs of real gross farm
product for the }^ears 1910-50, indicates an average annual
rate of growth of about 0.6 percent a year. This growth is
the product of a slow downward movement in persons and
man-hours engaged in farming, and a more than offsetting
increase in labor productivity, which will be discussed later.
The growth in real gross farm product has been considerably less than the growth of the total real gross national
product. Total real product is estimated to have risen by
approximately 175 percent between 1910-14 and 1945-49—an
average annual rate of increase of about 3 percent. As a
result of the significantly lower rate of growth in the real
value added by the farm economy, real gross farm product
fell from almost 11 percent of total real gross product in the
pre-World War I period to less than 5 percent in the 1945-49
period. This was accompanied by a decline over the same
period in the proportion of the United States population
living on farms from about one-third to one-sixth.
The ratio of farm to total gross national product in terms
of current dollars is close to 9 percent in the recent period,
down from 15 percent in 1910-14, but up from 7.2 percent
in 1939. The increase in the current dollar ratio in the last
decade, in contrast to the continued downward trend of the
constant dollar ratio, is due to the much larger rise in the
implicit price deflator for gross farm product than in the
implicit price deflator for the aggregate measure.
If the real gross farm product had been expressed in terms
of a recent price base, such as 1947-49, the increase over the
four decades would have been greater than shown by the
1939 dollar measure, and the decline in the ratio to total
real gross product somewhat less. This stems from the fact
that prices received have been higher in recent years relative
SURVEY OF CURRENT BUSINESS
September 1951
15
Table 1.—National Farm Product in Current Dollars
Product Flow Estimates, and Reconciliation with National Farm Income
[Millions of dollars]
Item
1910
1911
Total value of farm output
Cash receipts from farm marketings and
COG loans
Products consumed on farms where produced
Net change in all farm inventories
Gross rental value of farm homes
Less: Value of intermediate products consumed, total
Intermediate products other than rents
Gross rents paid to nonfarm landlords
Equals: Gross national farm product 1
Less: Capital consumption allowances
Depreciation charges
Capital outlays charged to current expense
Equals: Net national farm product
Less: Indirect business taxes
Equals: National farm income *
7,503
7,014
7,657
7,847
5,793
5,596
6,017
6,248
1,177
151
382
1,092
-67
393
1,140
96
404
1,705
1,079
626
5,798
610
560
1,595
936
659
5,419
624
574
50
5,188
150
5,038
50
4,795
Item
Total value of farm output
Cash receipts from farm marketings and CCC loans
Products consumed on farms
where produced
Net change in all farm inventories..
Gross rental value of farm homes..
Less: Value of intermediate products
consumed, total
Intermediate products other than
rents
Gross rents paid to nonfarm landlords
Discrepancy
Equals: Gross national farm product..
Less: Capital consumption allowances
Depreciation charges
Capital outlays charged to current
expense
Equals: Net national farm product
Less: Indirect business taxes
Plus: Government payments to farm
landlords
Equals: National farm income. _
1929
1930
167
4,628
1931
1927
1926
1915
1916
9,266 13,668 16,270 17,262 16,256
9,865 10,901 11,892 12,211 13,474 13,229 12,992
13,685
6,050
6,403
7,750 10, 746 13, 461 14,604 12, 608
8,150
8,594 9,563 10,221 10,995 10,564 10,756
11, 072
1,153
26
420
1,162
426
427
1,132
73
434
1,309
-266
473
2,406
348
894
1,568
-613
760
1,555
18
734
1,851
1,165
686
5,806
647
595
1,907
1,204
703
5,940
658
606
1,954
1,224
730
6,111
674
620
1,986
1,191
795
6,056
700
644
2,402 3,237 4,190 4,487 4,397
1,442 1,932 2,766 2,892 3,058
960 1,305 1,424 1,595 1,339
6,864 10,431 12,080 12,775 11,859
765
905 1,093 1,349 1, 575
704
990 1,235 1,453
826
3,000
1,901
1,099
6,865
1,266
1,168
3,107 3,362
1,968 2,156
1,139 1,206
7,794 8,530
1,146 1,121
1,058 1,019
3,796 3,789
2,490 2,532
1,306 1,257
8,415 9,685
1,110 1,104
999
1,011
52
5,159
174
4,985
52
5,282
200
5,082
54
5,437
203
5,234
56
5,356
221
5,135
61
6,099
237
5,862
5,599
456
5,143
102
6,648 7,409
460
470
6,188 6,939
7,305
467
6,838
1932
1933
1934
1935
1936
1918
1,861
521
540
2,152
39
618
1919
2,395
-450
713
1920
114
122
103
79
9,526 10,987 11, 426 10, 284
359
268
289
438
9,258 10,698 11,067 9,846
1937
1938
1939
1940
1941
1921
1942
1922
1943
1923
1,623
-75
781
1944
1,622
-412
780
1945
1,781
-93
791
105
8,581
478
8,103
1946
1,837
25
803
1,695
-259
800
1,666
136
811
3,745 3,833
2,527 2,536
1,218 1,297
9,484 9,159
1,110 1,116
1,003 1,007
4,143
2,843
1,300
9,542
1,123
1,012
107
8,374
490
7,884
111
8,419
515
7,904
1947
109
8,043
504
7,539
1948
1949
1950
13,57911,141 8,690 6,447 6,654
6,722 9,510
9,25411,450 9,740 9,83910,486 3,762 19,182 21,942 22,821 24] 49828,256 32,124 36,12731,15333,233
11,303 9,023 6,374 4,747 5,315
6,333 7,095
8,375 8,857 7,697 7,879 8,367 .1,190 15,391 19,46020,37121,51624,864 30,014 30,544 28,012 28,773
1,537 1,254 1,009 1,023 1,090 1,321 1,375 1,410 1,283 1,244 1,254 1,460
2,163 2,201 2,256 2,624 3,095 2,936 2,510 2,344
-252 -249 +308 +36 -271 -1,317 +478 -1,111 +545 +140 +97 +240 +458
•2, 205
205 +1,313 -720 +752
'-458 +1^ 309 -420 -545 -148 -227 -2,
829
754
739
794
874
' — 1,334 1,351 1,364
654
694
995 1,220
620
619
625
655
587
616
616
615
4,018 3,541 2,651 2,128 2,203
2,484 2,725
3,055 3,337 2,959 3,231 3,580 4,220
5,640 6,590 7,074 7,730
2,711 2,394 1,776 1,421 1,478
1,699 1,
2,099 2,378 2,092 2,340 2,750 3,100
4,213 5,011 5,422
1,307 1,147
875
707
725
90
134
162
168
80
9,471 7,466 5,871 4,157 4,371
864
785
54
83
4,155 6,731
956
52
6,147
959
51
849
757
840
1,155 1,111
1,043 1,004
946
852
722
730
654
112
94
107
81
76
8,316 6,355 4,925 3,354 3,641
525
519
467
403
351
0
0
112
7,791 5,836 4,458 2,951 3,402
757
676
790
703
81
87
3,398 5,941
341 347
397
3,454 6,092
10, 725 11,642 10,762 11,916
6,872
8,475 9,389
8,307
891
1,120 1,427 1,579 1,652 1,732 2,024 2,418 2,554 2,287 2,527
867
-25 -60 -206
-83 +81 +163
21 -188
-84 -139 -170
-216
51
6,730 6,587 7,094 9,626 13,681 15,52215,77216,
19,566 21,615 24,56820,310 21,154
844
968
875
1,420 1,558 1,744 1,897
1,133 1,261 1,382 1,563 1,686
973
876
2,334
2,115
2,816 3,214 3,519
2,570 2,971 3,269
92
99
112
159
95
133
211
97
176
181
219
246
250
243
,102 14,
5,298 7,123 5,791 5,619 6,121 8,528 12,415
,415 14,102
:,214
214 15,08417, 669 19, 281 21, 752 17,096 17,635
494
422
369
372
356
366
373
387
415
443
533
610
664
752
715
250
314
412
705
670
514
610
590
715
685
278
222
161
248
5,192 7,068 5,837 5,951 6,419 8,655 12,610 14,270 14,486 15,276 17,821 18,949 21,31016,54217,131
i Since the total discrepancy between gross national product estimates built up by the income and product approaches prior to 1929 is entirely minor, it has not been shown, but is implicitly
included in the national farm income figures. Government payments to farm landlords are also not shown in the stub for the earlier period, since these payments first began in 1933.
Source: U. S. Department of Commerce, Office of Business Economics, based largely upon data from U. S. Department of Agriculture, Bureau of Agricultural Economics.
to prices paid than in 1939. Thus, a smaller weight would
have been given to intermediate product purchases relative
to the value of output, accentuating the rise in real product.
Part of the decline in the relative size of the farm economy
has been due to the fact that the demand for farm products
has not increased as rapidly as has total demand, in real
terms. Part of it has been due to the fact that the farm
economy has come to rely on the nonfarm economy for
intermediate products to an increasing extent, relative to
the total output of farm products.
Farm output up more than farm product
The increase of 20 percent in real gross farm product
between 1910-14 and 1945-49 contrasts with a rise of 60
percent in the real value of total farm output. (See table 1
and the second chart.) The difference between the two
measures is due to the very large increase in purchases
of intermediate products, which will be discussed in the
next section. This section will deal with the nature of the
changes in total farm output.
The re.al value of output of farm commodities alone
increased by 65 percent over the period. The difference
between the total output and commodity output is accounted
for by the gross rental value of farm homes, which increased
by only 16 percent over the period in real terms.
Most discussions of farm output relate to the physical
volume of total farm commodity output, or of gross sales,
without a deduction for intermediate product purchases, and
therefore show the larger increase than real gross farm
product. The B. A. E. index of "farm output" which is
roughly comparable with the deflated commodity output,
likewise shows an increase of almost 65 percent over the
35-year period.
Deflated sales are equal to the real value of total commodity output less the net change in farm inventories,
valued in constant prices. Since there was a small accumulation of inventories between 1910 and 1914, and a moderate
liquidation between 1945 and 1949, deflated sales show a
larger increase over the period amounting to almost 70
percent. This movement is roughly corroborated by the
B. A. E. index numbers of the "volume of agricultural
production for sale and consumption in the farm home"
which rose about 66 percent. The correspondence is not
precise, since the two series, while covering the same area,
involve somewhat different weighting systems.
The "sales" figure includes not only marketings, but also
the imputed sales value of food and firewood consumed on
the farm where produced. The imputed items have declined
by almost 5 percent over the period, in real terms. Since
SUEVEY OF CTJKKENT BUSINESS
16
farm population has declined more than this, per capita home
consumption has risen. In relation to total sales, home consumption has fallen from 17 percent in 1910-14 to less than
10 percent in 1945-49.
Cash receipts from farm marketings and CCC loans increased 85 percent over the period. The changing pattern
of farm production is revealed by the detailed marketings
data, in constant dollars. Total crops showed a somewhat
smaller gain than did livestock and livestock products.
Oil-bearing crops, vegetables, fruits and nuts, and tobacco
showed large gains. Food grains and feed crops showed
smaller-than-average increases. Within the livestock group,
poultry, eggs, and dairy products showed much larger gains
than meat animals, although meat animals are still the most
important branch of farm production in terms of the relative value of marketings.
Increase in Purchased Products
During the 35-year period under review, while real gross
output rose 60 percent, the real value of intermediate products consumed rose 260 percent. The ratio of intermediate
products to gross output, both measured in 1939 dollars,
increased from 23 percent in the 1910-14 period to approximately 43 percent in the 1945-49 period. This increase in
the intermediate product ratio explains the difference between the 20 percent increase in real gross farm product and
the 60 percent rise in the real value of total farm output.
(See chart.)
Some intermediate products are direct purchases by one
farmer from another. But the bulk are products originating
in other industries, as in the case of motor fuels, or farm
products which have undergone additional processing and
handling in other industries as in the case of commercial
feeds and seeds.
September 1951
Increasing influence of mechanization and
science
The large relative increase in purchases of intermediate
products by farmers can be traced mainly to the trends
towards farm mechanization and scientific management.
Mechanization has required increasing expenditures for
motor fuel, electric light and power, and maintenance of
motor vehicles and other machinery. The unit volumes of
these products show a larger percentage increase in recent
decades than any other types of purchased goods and
services. Expenditures for operation of motor vehicles are
now the second largest current expense item. Purchased
electricity, while still not a major expense item, has shown
a tremendous growth, paralleling the progress of farm
electrification.
The increasing application of scientific advances in farm
management is at the root of the other large increases in
intermediate product purchases. Real outlays for commercial feeds, seeds, fertilizer and lime, insecticides, veterinary services and medicines all increased much more than
the physical volume of farm output. Purchases of feed are
still the largest single current farm expense, and within this
category commercial feeds have become increasingly important. These scientifically balanced animal rations, based
on various nonfarm ingredients as well as feed grains, are
particularly important in the poultry and dairy branches of
agriculture. The commercial seed business has also grown
rapidly as a result of the increasing use of cover crops and
new varieties of grains, especially the hybrid types.
Commercial fertilizers and lime have been applied on an
increasing scale in order to offset soil depletion and support
higher yields. Real purchases of insecticides have risen
markedly for use in control of pests. Greater expenditures
for veterinary services and modern medicines have helped
raise production of livestock and livestock products.
Table 2.—Implicit Price Deflators for National Farm Product by Major Components
[1939=100]
Item
1910
106.0
Total value of farm output
Cash receipts from farm marketings and
110.3
CCC loans
Products consumed on farms where pro99.2
duced
Net change in all farm inventories J
68.6
Gross rental value of farm homes
Less: Value of intermediate products con97.6
sumed, total
Intermediate products other than rents. __ 92.1
108.9
Gross rents paid to nonfarm landlords
Equals : Gross national farm product
Item
Total value of farm output
Cash receipts from farm marketings and
CCC loans
Products consumed on farms where
produced
Net change in all farm inventories *
Gross rental value of farm homes
Less: Value of intermediate products consumed, total
_ __
Intermediate products other than rentsGross rents
paid
to
nonfarm
landlords..
Discrepancy 2
_
Equals: Gross national farm product
108.7
1929
1912
1911
1913
1914
1915
1916
1917
1918
1919
1920
I
1921
1922
1923
1924
1925
1926
1927
1928
97.3
103.7
104.9
104.5
103.0
121.3
179.2
206.6
220.4
214.7
133.3
137.7
144.8
147.0
162.3
153.8
149.0
156.1
100.7
107.4
109.2
109.7
107.0
129.7
192.7
222.2
234.6
224.7
133.7
138.5
146.4
149.3
166.2
154.6
150.5
158.7
93.7
99.7
100.5
100.3
96.9
114.2
159.2
182.2
196.6
203.2
137.4
133.6
141.4
139.5
152.6
155.3
145.7
150.5
69.4
70.6
72.3
72.5
72.7
78.2
87.7
98.7
112.8
139.7
118.9
116.3
124.4
124.2
125.8
127.5
126.8
127.9
97.6
89.4
112.3
102.3
96.3
114.5
103.0
97.1
114.9
105.6
99.7
117.2
110.0
102.0
124.6
124.8
113.0
148.1
162.7
145.3
197.7
180.2
167.7
210.7
195.9
181.1
229.8
185.6
185.1
186.8
129.2
120.2
148.3
132.0
120.1
159.3
141.8
129.5
170.8
146.3
132.6
182.1
146.2
136.1
172.2
140.1
131.5
162.0
140.5
129.9
167.4
144.8
137.7
162.9
97.2
104.1
105.5
104.1
100.9
120.2
185.0
217.7
230.6
228.0
135.2
140.2
146.0
147.3
169.6
159.9
152.9
161.6
1935
1936
1930
1931
1932
1933
1934
1937
1938
1939
1940
1941
1942
1943
1944
1945
1946
1947
1948
1949
1950
153.9 132.5
94.5
73.3
75. D
87.8 111.3 114.0 123.2
157.6 132.8
93.2
70.3
73. 5
92.6 113.7 119.8 127.6 102.5 100.0 106.1 130.,5 167.0 201.2 204.5 216.5 244.7 291.4 301.2 263.2 268.1
151.8 138.1 106.9
82.6
79. 3
90.9 114.4 118.7 122.6 105.8 100.0 104.8 128. <t 162.0 204.8 199.0 209.9 227.4 262.5 270.8 237.7 227.1
130.1 129.5 118.0 103.5
102.6 100.0 104.9 128. iJ 164.9 193.1 198.3 214.5 239.3 274.6 294.1 256.3 261.3
94. <1 100.3 101.1 101.0 104.6 101.1 100.0
99.8 102. "> 108.6 115.8 125.2 139.4 154.7 184.0 195.3 192.7 191.0
141.9 126.4 98.7
135.4 122.6 97.8
157.5 135.3 100.7
81.4
81.9
80.5
83. ()
82.'I
84.J
96.6 103.7 108.4 114.6 101.4 100.0 100.5 113.2 135. 2 151 2 158. 4 162 1 176.6 203.5 221.1 198.4 207.1
99.2 106.3 107.6 116.5 102.9 100.0 102.8 109.2 127.9 143.8 150.3 153.4 165.0 189.6 208.4 187.7 194.3
91.4 99.0 110.4 110.1 98.0 100.0 93.7 126.2 162.2 180.9 192.5 201.4 232.4 271.7 282.2 251. C 273.5
159.6 135.5
69.9
71.7
83.3 114.7
92.7
116.9 127.1 103.2 100.0
107.4 137.1 181.6 219.2 223.6 252.2 285.8 332.9 348.9 303.0 306.1
SUKVEY OF CUEEENT BUSINESS
September 1951
GROSS FARM PRODUCT has increased less
than total value of farm output, in real terms
BILLIONS OF 1939 DOLLARS
15
fHH GROSS FARM PRODUCT
TOTAL FARM OUTPUT
due to the rising input of purchased materials in
relation to output.
PERCENT
50
RATIO OF INTERMEDIATE PRODUCTS
CONSUMED TO FARM OUTPUT
25
I
191014
1915-
192024
192529
193034
193539
194044
194549
ANNUAL AVERAGE FOR THE PERIOD
U. 5. DEPARTMENT OF COMMERCE, OFFICE OF BUSINESS ECONOMICS
Source of data: U. S. Department of Commerce, Office of Business Economics, based upon
data from U. S. Department of Agriculture, Bureau of Agricultural Economics.
Improved management has paid off
It is noteworthy that the largest increases in purchases of
intermediate products relative to gross output have come in
periods when prices received by farmers, relative to prices
paid, were favorable, especially during and immediately following the two World Wars. It is in such periods that
increased outlays for intermediate products seem most
assured of paying off in the form of higher net receipts. In
a real sense, the relative increase in intermediate product
purchases has paid off in that the real value added in the
farm economy has gradually increased, over and above the
intermediate product input.
If capital consumption allowances in constant dollars were
likewise deducted from the real value of output, the trend of
real net farm product would not be significantly different
from that of the gross measure, except in the post-World War
II period. Due to the large farm equipment expenditures
of recent years, the real net farm product is not so high as
the gross measure relative to prewar levels.
Farm Productivity
Measures of productivity in an industry are usually derived from the relationship between the physical volume of
output and the physical volume of input of one or more of
the factors of production. As such, they give an indication
of the changes in efficiency of the factors of production in
the industry. Comparisons can be made with productivity
963298°—51
3
trends in other industries, and in the economy as a whole.
Thus, the relative contribution of the industry to the growth
of over-all productivity, which is the chief basis of rising
standards of living and national economic strength, can be
assessed.
Utility of measure used
r^l INTERMEDIATE PRODUCTS CONSUMED
fc|l
(FEED, FERTILIZER, FUEL, ETC.)
10
17
Most conventional productivity indexes have used some
measure of the unit volume of total output as the numerator
of the productivity ratio. From the point of view of resource
use in the economy as a whole, however, use of the real gross
product of the industry as the numerator is preferable. Just
as the gross products of all the industries in the economy
add up to the total gross national product, so industrial productivity measures based on the real product approach can be
combined to yield, or equal, the measure of productivity in
the economy as a whole. It is the deduction from the outputs of each industry of the purchases of intermediate products from other industries that eliminates duplication from
the resulting product and productivity measures, and makes
it possible to combine them.
The conventional productivity measures usually employ
a measure of labor input as the denominator of the productivity ratio. Labor is the most important factor of production in most industries, so particular interest attaches to
measures of "labor productivity." But since output is a
function of the quantity and quality of all the factors of
production, such a measure reflects changes in the quantity
of the other factors relative to labor input, as well as changes
in the joint efficiency of all factors. Therefore, in addition
to measuring farm productivity as the ratio of real gross
farm product to labor input, we shall also present a measure
using composite factor input as the denominator.
Ratio of real farm product to
man-hours worked
A Bureau of Agricultural Economics series on man-hours
worked was used in the labor productivity computations,
since changes in the average hours worked per year are
reflected, as well as changes in the numbers of persons engaged. The series relates to all types of farm workers—
proprietors and unpaid family workers, as well as hired
hands—but is expressed in terms of man-equivalent hours.
The man-hours estimates were calculated on the basis of
man-hour requirements for the various types of farm production by States, beginning in 1919, combined to yield a
national total, and on a U. S. basis 1910-1918. The series
is annual, although the benchmark field
surveys to which
they are tied were made less frequently.3
The man-hours worked series shows the same general
trend as the B. A. E. employment estimates, based on census
and sample survey material. There is evidence of only a mild
downward trend in the average hours worked per year since
World War I. This result is not unreasonable since available
evidence indicates that increasing mechanization has not
reduced the farm work-year as much as has been the case hi
nonfarm industries. Actual average hours worked may have
increased in certain periods due to the possibility of using
tractors more intensively than draft animals. And the
relative increase in certain types of farm enterprises, such
as poultry and dairying, may have spread work more
evenly over the year. In any case, the productivity trend
obtained by using man-hour labor input is similar to that
which would be obtained by using farm employment as the
denominator, and is conceptually superior.
The upper panel of the chart on productivity shows the
index numbers of real gross farm product per man-hour on
s For a more detailed discussion of this series, see U. S. Department of Agriculture Technical
Bulletin No. 1020, December 1950, "Gains in Productivity of Farm Labor," by Rueben W.
Hecht and Glen T. Barton.
SUEVEY OF CUEEENT BUSINESS
18
a logarithmic scale. A straight-line time trend, fitted to the
logarithms of the index numbers indicates an average annual
rate of increase of almost 1.3 percent.
This rate of growth in farm labor productivity is somewhat
less than prevails in the private nonfarm
economy, which is
computed to be almost 2.0 percent.4 If the real value of
farm commodity output had been used as the numerator of
the ratio, the productivity increase would have averaged
more than 3 percent a year. However, if interest is centered
on the net contribution of the farm economy, the measure
which excludes intermediate product purchases is the more
meaningful one.
Composite productivity in farming
Since capital and land also enter the productive process, it
is worthwhile to attempt to measure the quantities of these
factor inputs over the period covered. When the other factors are combined with labor input and divided into real
product, a conceptually more precise measure of changes in
the joint efficiency of the factors of production in farming
emerges.
The real value of durable capital assets was derived from
B.A.E. estimates of the total value of such assets by major
types in the base period, moved by cumulating the net addi-
September 1951
tions in constant (1939) dollars by major types. Net additions were obtained by deflating the B.A.E. current dollar
estimates of gross capital outlays and annual depreciation
charges by appropriate price indexes from the same source,
and taking the differences.
It is clear that in any one year, the assumed depreciation
derived from conventional depreciation rates applied to the
existing capital at the beginning of the period is only an approximation to actual physical wear, tear, and obsolescence.
Over a period of years, however, it should result in a fair
approximation to capital consumption. Estimates of the
constant dollar value of total farm inventories involved only
the cumulation of the net change, in constant dollars, from
the base period total value.
The constant dollar value of farm land was obtained by
moving the total value in the base period by the acreage of
farm lands as reported by the Census of Agriculture. This
series, which does not reflect the effect of shifts among different types of land of varying relative value, has increased by
more than one-fourth over the four decades. Since most of the
increase has come not in cropland, but in relatively lower
value pasture land, the real increase was probably less, although data are not at hand to refine the estimates.
Capital assets up a fourth
4
See the January 1951 SURVEY OF CURRENT BUSINESS, "Estimates of Gross National
Product in Constant Dollars, 1929-49."
FARM PRODUCTIVITY
GROWTH in the real gross farm product per man-hour
has been 1.3 percent per year
INDEX, 1939 = 100 (RATIO SCALE)
150
100
GROWTH
TREND
\
90
80
70
60
I M M II ! I I I I I I I I 1 I I I I I I I M I I I II I I I I I I I I I
while the GROWTH in real gross farm product per
unit of combined land, labor, and capital inputs
has been 0.9
percent per year.
J50
During the period between 1910-14 and 1945-49, the real
value of reproducible farm capital assets increased by almost
one-fourth. Within the category, trends are divergent.
Farm inventories showed little net change over the period,
as the steady decline in numbers of horses and mules offset
a net increase in the inventory items other than work stock.
Farm structures increased by less than 10 percent.
The big increase came in farm machinery and motor
vehicles, which rose by almost 120 percent. The farm
machinery portion increased by almost 50 percent, while
the real value of motor vehicles climbed from a negligible
quantity at the beginning of the period to more than onethird of the combined constant dollar value of the subgroup.
The trend in the real value of motor vehicles is roughly paralleled by the increase in numbers. In contrast to negligible
numbers prior to World War I, by 1949 there were 5.3 million
automobiles on farms, use of which is partly for business
purposes, 3.5 million tractors, and 2.1 million trucks.
The computations of the real value of farm capital assets
and land are approximations, but the important fact is
established that the quantities of capital and land per unit
of labor input increased significantly over the period. The
index numbers of the three types of factor input were combined by the relative income accruing to labor, capital and
land in the period 1940-49, when demand was at a generally
high level. Labor income (including the imputed wages of
farm proprietors, as distinct from their net land rents and
profits) accounted for about two-thirds of the total. The
remaining portion split almost evenly between capital return
and net land rents.
Trend in composite productivity
GROWTH TREND
.100
\
90
80
70
€0
1910
15
20
25
30
35
U. S. DEPARTMENT OF COMMERCE, OFflCE OF BUS/NESS ECONOMICS
40
45
50
51-182
Source of data: U. S. Department of Commerce, Office of Business Economics, based upon
data from U. S. Department of Agriculture, Bureau of Agricultural Economics.
Keal gross farm product divided by composite factor input
is shown in the lower panel of the chart. Since labor
input is the dominating factor, the year-to-year fluctuations
appear similar to those in the farm labor productivity curve.
However, the trend line fitted to the logs of the composite
productivity index numbers shows a significantly smaller
rate of increase—0.9 percent a year—compared with 1.3
percent in the case of farm labor productivity. This lower
trend is the corrolary to the fact that combined real property
input per man-hour in farming increased by more than 60
percent over the period. If land input actually increased less
than the measure used in this computation, the true productivity ratio would show a somewhat larger rate of increase.
SURVEY OF CUREENT BUSINESS
September 1951
19
Table 3.—National Farm Product in Constant Dollars
[Millions of 1939 dollars]
Item
1910
1911
1912
1913
1914
1915
1916
1917
1918
1919
1920
1921
Total value of farm output
Cash receipts from farm marketings
and CCC loans
Products consumed on farms where
produced
Net change in all farm inventories __
Gross rental value of farm homes
Less: Value of intermediate products consumed, total
Intermediate products other than rents—
Gross rents paid to nonfarm landlords. _ _
7,080
7,210
7,386
7,481
7,719
7,808
7,636
7,629
7,875
7,831
7,571
5,250
5,559
5,602
5,721
5,515
5,984
5,977
5,577
6,058
6,224
5,611
1,186
87
557
1,166
-81
566
1,143
69
572
1,147
32
581
1,158
457
589
1,168
59
597
1,146
-92
605
1,169
267
616
1,181
10
626
1,218
-243
632
1,747
1,172
575
1,634
1,047
587
1,809
1,210
599
1,852
1,240
612
1,851
1,228
623
1,806
1,168
638
1,924
1,276
648
1,990
1,330
660
2,325
1,649
676
Equals: Gross national farm product . _
5,333
5,576
5,577
5,629
5,868
6,002
5,712
5,639
5,550
1934
1935
1936
1925
1926
1927
8,309
8,303
8,604
8,720
8,768
6,845
6,616
6,834
7,147
6,977
1,148
-95
628
1,163
-327
628
1,167
-109
629
1,183
-43
630
1,163
-221
631
1,107
50
634
2,354
1,639
715
2,371
1,665
706
2,595
1,878
717
2,591
1,861
730
2,674
1,922
752
2,728
1,953
775
2,862
2,064
798
5,560
5,842
5,714
5,712
5,930
5,992
5,906
1943
1944
1922
1923
1924
7,399
7,914
8,213
6,095
6,204
6,532
1,184
136
640
1,141
-476
639
1,164
-85
631
2,291
1,597
694
2,369
1,652
717
2,322
1,581
741
5,540
5,202
5,077
1928
Item
1929
1930
Total value of farm output
Cash receipts from farm marketings
and CCC loans
Products consumed on farms where
produced
Net change in all farm inventories
Gross rental value of farm homes
Less: Value of intermediate products consumed, total
Intermediate products other than rents.
Gross rents paid to nonfarm landlords..
Discrepancy
8,821
8,409 9,198 8,796 8,867 7,657 8,545 98, 120 9,297 9,491 9,839 9,994 10, 68"r 11,629 11,362 11, 508 11,419 11,809 11,700 12,284 12,154 12,720
Equals: Gross national farm product
5,934 5,510 6,333 5,947 6,096 4,988 5,868 5,258 6,343 6,521 6,587 6,605 7,02 L 7,534 7,081 7,054 6,672 6,846 6,493 7,042 6,70;* 6,911
1931
1932
1933
1937
1938
1939
1940
1941
1942
1945
1946
1947
1948
1949
1950
7,173 6,793 6,836 6,757 7,199 6,841 6,241 6,991 6,939 7,510 7,879 7,889 8,57S2 9,217 9,671 9,959 9,936 10, 163 10, 300 10, 140 10, 637 10, 734
1,119 1,113 1,173 1,221 1,282 1,199 1,155 1,158 1,150 1,213 1,244 1,197 1,13'r 1,104 1,056 1,106 1,075 1,154 1,179 1,084 1,056> 1,032
-3 -191 -219 -151 -442 +377 -24C +240
+97 +282 +341L +669
-108 -138 +550 +185 -236 -997 +540 -638 +598 +155
683
701
714
643
663
634
641
609
639
638
627
639
622
614
610
613
619
626
63'1
633
609
637
2,832 2,801 2,685 2,614 2,655 2,572 2,629 2,817 2,913 2,918 3,231 3,561 3,72'1 4,173 4,358 4,465 4,770 5,036 5,271 5,266 5,42£) 5,755
2,002 1,953 1,816 1,736 1,793 1,713 1,756 1,951 2,042 2,033 2,340 2,675 2,84() 3,293 3,485 3,607 3,910 4,165 4,381 4,361 4,514t 4,831
905
911
924
890
858
860
871
869
862
866
880
873
830
848
859
871
885
891
886
88 1
878
873
+54
45
41
52
21 -172 -6 L
-78
77 -11 -23 -73 -64 -24 +2()
98
180
55
235
116
97
48
Source: U. S. Department of Commerce, Office of Business Economics.
It might be objected that from the production angle, the
real gross rental value of farm dwellings should not be
counted as farm product, and that real gross rents paid to
nonfarm landlords should be counted as originating in farming, since the capital and land on which the rents are paid
are employed in the farm production process. To some
extent, the two items are offsetting. To the extent, they
are not, the movements of the real farm product and productivity based on the alternative concept are but little different,
and show only a slightly higher time trend. The data in
table 3 make possible the alternative computation.
Reasons for farm productivity gains
The root of increasing productivity, or efficiency of the
factors of production, lies primarily in advancing knowledge,
the application of that knowledge to production equipment
and processes, and the spreading adoption of improved technologies. In farming as in other industry, productivity gains
are closely related to increasing expenditures of time and
money for research and development activities, and the rate
of adoption of new methods and machines by farmers as a
result of formal or informal educational activities. The
research, development and educational activities may or may
not originate within the industry itself.
Technological changes in farming can be grouped under
three heads: improvements in land utilization designed to
offset or reverse the tendency towards declining quality of
land; improvements in capital through the introduction of
new types and models of machinery, equipment and plant;
and improvements in the quality of farm labor (largely management) as evidenced not only by adoption of, and adaptation to, improved land and capital technology, but also by
the adoption of better crop and livestock production processes, and organization of the farm enterprise generally. It is
impossible to isolate the contribution of each of the factors to
the over-all increase in productivity, but a few of the outstanding technological advances can be mentioned.5
5 A recent review of technological advances in farming is the U. S. Department of Agriculture Miscellaneous Publication No. 707, "Changes in American Farming," by Sherman E.
Johnson, December 1949.
Farming differs from non-extractive industries in that
some of the technological advances are required to offset a
tendency towards deterioration in the quality of land as
soils are depleted and farming is extended to inherently less
productive lands. In recent years, crop rotation systems,
contour farming and terracing, and use of green-manure
crops as well as fertilizer and lime have become increasingly
prevalent.
Increases in efficiency of farm producers' durable equipment have been striking. The period under review encompasses the rise of the mechanical-power phase of the revolution in farm machinery which began more than a century
ago. This has been associated with the replacement of
horses and mules by tractors which have been improved
steadily in usefulness. Other types of farm machinery have
also been improved greatly in speed, durability, economy
and other respects. Most types have been redesigned for
integral use with tractors, and completely new types introduced. The contribution of the automobile and truck to
speeding up the transportation job both on the farm, and
from farm to market, is also significant.
Farm management and labor have likewise increased in
efficiency. Not only have they increased their skills with regard to use of farm equipment and in land utilization practices, but they have adopted various other scientific advances
which have increased farm production relative to factor input.
Improved varieties of crops, such as hybrid corn, have increased crop yields. Improved breeding and feeding of livestock have increased the output of animal products per unit
of input. Pests, and animal and crop diseases, have been
subject to greater control. In some cases, changes in the size
and organization of the farm have reduced overhead charges
per unit of output.
The record of farm productivity gains is a significant one.
As in the past, it is the growth in farm productivity which
makes possible the diversion of an increasing proportion of the
resources of the economy to nonfarm production, with a consequent continuation of the upward trend in standards of
living which has characterized the American economy.
by Elwyn T. Bonnell and Allen E. Turner
Public and Private Debt in 1950
A HE rise in total public and private debt during 1950
was $38 billion—an amount far exceeding net additions to
debt outstanding in any former peacetime or mobilization
year. Unlike most other years in the past two decades,
however, the expansion was almost wholly confined to the
private debt category. Total net private debt amounted to
$245 billion on December 31, 1950, $36 billion (or 17 percent)
above net outstandings at the end of 1949. There was little
change in the Federal Government debt position during the
year, but a continuing addition was made to the outstanding
obligations of State and local governments. As a result of
the large increase in private debt, the proportion of total net
debt represented by public obligations had declined to 49
percent at the end of 1950. (This proportion may be compared to the 65 percent reached during the war.)
The magnitude of the rise in private indebtedness during
1950 may be compared to changes in other measures of
economic activity. The gross national product advanced
from $257 billion in 1949 to $283 billion in 1950. More
significantly, a comparison between the fourth quarters of
1949 and 1950 shows a rise of about one-fifth. Disposable
personal income, plus retained corporate earnings in the
fourth quarter of 1950 had expanded 20 percent above the
fourth quarter of 1949 level of $194 billion (annual rates).
In orider to assess properly the significance of changes in
the debt structure, complete balance sheet data would be
necessary. However, the rapid growth in private indebtedness during 1950 may be viewed in connection with partial
NOTE.—MR. BONNELL AND MR. TURNER ARE MEMBERS OF THE NATIONAL INCOME DIVISION,
OFFICE OF BUSINESS ECONOMICS.
Net Public and Private Debt, by Major Components, End
of Calendar Year
BILLIONS OF DOLLARS
500
300 -
200 -
100 -*
1916 18 20 22 24 26 28 30 32 34 36 38 40 42 44 46 48 50
1
2
49-323
Data represent individual and noncorporate private debt.
Data are for June 30 of each year.
Source of data: U. S. Department of Commerce, Office of Business Economics, based upon
data from various governmental and private agencies.
20
Corporate liabilities lead expansion
Among the major components of private debt, the largest
increase—both absolute and relative—occurred in corporate
short-term liabilities. The rise in urban mortgage credit
accelerated, while expansions of varying degree were recorded
in other categories of private debt. An apparent exception
in the case of farm production credit is explained by the
lessened need for Commodity Credit Corporation price
support loan activity during 1950 as a result of rising farm
prices.
Federal debt rise delayed
The upturn in Federal Government net debt, initiated in
1949, was held to a negligible amount during 1950 and even
reversed in the first six months of this year because of largerthan-expected revenues and the lag in actual defense expenditures. At the end of December 1950 Federal net debt
amounted to $219 billion; by the end of last June, a reduction of roughly $3 billion had been accomplished. In the
absence of adequate new revenue legislation, however,
steadily increasing defense expenditures will necessitate deficit financing and additions to the public debt during the
coming year.
State and local government debt up
400 -
U. 5. DEPARTMENT OF COMMERCE, OFFICE OF BUSINESS ECONOMICS
indications of other balance sheet changes such as the year's
growth of $8 billion in liquid assets (cash, checking and
savings deposits, and U. S. Government securities). Also,
individuals and business made gross acquisitions of almost
$50 billion in new homes, plant and equipment, and additional business inventories.
The computed average interest rate on gross public and
private debt remained stable from 1949 to 1950. A longrun comparison worth noting is that despite a debt aggregate
more than 2^ times as great as in 1929, total interest payments are only one-fifth larger. Computed average interest
rates on both public and private debt have been roughly
halved since 1929.
The increase of over $2 billion in the net indebtedness of
State and local governments was about evenly divided between the two government levels. The year's increase in
State government debt can be traced to deficit operations
reported by 40 States in 1950. This condition is primarily
a reflection of increased commitments to local governments,
large-scale highway and institutional construction, pay raises,
higher material costs, and expanded public welfare assistance
programs.
However, pressure of increased costs fell more heavily on
the local levels of government where limited taxing authority
handicapped the search for new sources of revenue. Consequently, local governments have pressed for increased Stateaid and enabling legislation which would expand their taxing powers. As a result of State response to local problems,
the debt increase for States in fiscal year 1950 amounted to
35 percent, while only a 7 percent expansion was reported
by local governments. Within the local government level,
SURVEY OF CURRENT BUSINESS
September 1951
21
Tables 1 and 2.—Public and Private Debt (Net and Gross), End of Calendar Year, 1945-50
[Billions of dollars]
Public
End of year
Public and
private,
total
Private
Corporate
Total
State and
local
Federal
Individual and noncorporate
Total
Nonmortgage
Mortgage
Total
Long-term
Short-term
Total
Nonfarm
Farm
2
Farm 3
Nonfarm *
Table 1.—Net Public and Private Debt
407.3
398.8
419.5
435. 3
445.6
484.0
.- .
1945
1946
1947
1948
1949
1950
..
_
266.5
243. 3
237.7
232.7
236.7
239.1
252.7
229.7
223.3
216.5
218.6
218.7
13.7
13.6
14 4
16.2
18. 1
20 4
140 8
155.5
181 8
202 6
208.9
244 9
85 3
93 5
108 9
117 8
114 7
135 0
38 3
41 3
46 1
52 5
55 4
58 2
47 0
52 2
62 8
65 3
59 3
76 8
55 5
62 0
72 9
84 8
94 2
109 9
47
48
49
51
54
58
27 9
33 6
40 1
46 6
5i 9
61 1
25
28
35
55
6.4
61
20 5
20 9
24 4
27 7
30.5
36 9
54 2
60 9
73 2
75 9
69 1
88 9
55 5
62 0
72 9
84 8
94 2
iQ9 9
47
48
49
51
54
58
27 9
33 6
40 1
46 6
51 9
61 0
25
2g
35
55
64
62
20.5
20 9
24 4
27.7
30 5
36. 9
Table 2.—Gross Public and Private Debt
464.2
459.4
487.7
500.2
516. 7
558.7
1945
1946
1947
1948
1949
1950
309.2
288.1
286.6
276.7
287.0
290.0
292.6
272.1
269 8
258.0
266.1
266.4
16.6
15 9
16 8
18.7
20 9
23.6
155.0
171 3
201 1
223.5
229 7
268.7
1 Data for State and local governments are for June 30 of each year. Components will
not necessarily add to totals because of rounding.
2 Data are for noncorporate borrowers only. (See table 6.)
3 Comprises non real-estate farm debt contracted for productive purposes and owed to
institutional lenders (includes C. C. C. loans.)
the most marked rise occurred in the debt of school districts,
reflecting primarily the construction of new facilities to provide for the increasing population in the school-age groups.
Corporate debt increase accompanies
business expansion
At the end of 1950, total corporate net debt amounted to
$135 billion, $20 billion more than a year earlier. Of this
increase, about $3 billion represented the net addition to
long-term debt—a moderate expansion, considering the
huge volume of new investment in plant and equipment
during the year.
The remainder of the year's increase in net corporate
debt— $17 billion—represented expanded trade payables,
short-term bank loans, Federal income tax liability, and
miscellaneous liability and accrual accounts. Roughly onethird of the expansion was due to larger Federal income tax
liabilities, occasioned not only by rising profits but also by
higher tax rates and the excess profits tax imposed in the
second half of the year. Another important factor was the
growth in trade payables and inventory loans from banks
accompanying the addition of $7K billion to corporate
inventory holdings.
99 5
109 3
128 2
138 7
135 5
158 8
45 3
48 4
55 0
62 8
66 4
69 9
4
Comprises debt incurred for commercial (nonfarm), financial and consumer purposes,
including debt owed by farmers for financial and consumer purposes.
Sources: U. S. Department of Agriculture, Bureau of Agricultural Economics; U. S.
Department of Commerce, Bureau of the Census and Office of Business Economics.
Despite the magnitude of corporate indebtedness at the
end of 1950, aggregate indications point to a favorable financial condition. Corporate holdings of liquid assets are the
highest on record, net working capital position is still improving, and the sustained volume of corporate profits after taxes
has been sufficient to maintain a satisfactory dividend record
and finance a substantial portion of investment and working
capital requirements. Also, it is expected that any private
financing difficulties in connection with the progressing
defense program will be alleviated by direct or indirect
Government assistance.
Nonfarm mortgage debt climbs steeply
A $10 billion expansion, almost twice the 1949 increase,
took place in the residential and commercial real estate
mortgage field during 1950. The spectacular $21 billion
outlay for new private construction in 1950 was the culmination of a building boom made possible by the availability of
materials, high incomes, large holdings of liquid assets, and
exceptionally easy credit terms. Measures by the Federal
Government to restrain inflationary pressures and reduce the
volume of nonessential construction have affected real estate
credit in 1951.
Table 3.—Gross and Net Federal Government Debt, End of Calendar Year, 1945-50
[Millions of dollars]
Gross debt
End of year
1945
1946
1947
1948
1949
1950
1951 (June 30)
Duplicating debt
Federal Government
Federal
Government and
Federal
agency,
total
Total
292, 599
272, 147
269, 753
257, 994
266, 067
266, 415
(5)
278, 114
259, 149
256, 900
252, 800
257, 130
256, 708
255, 222
Interest bearing
Total
Public
issues
Special
issues
275, 693
257, 649
254, 205
250, 580
255, 019
254, 283
252, 852
255, 693
233, 064
225, 250
218, 866
221, 123
220, 576
218, 199
20, 000
24, 585
28, 955
31, 714
33, 896
33, 707
34, 653
Federal
GovernFederal2 ment and
Nonagency
Federal
interest
agency,
bearing *
total
2,421
1,500
2,695
2,220
2,111
2,425
2,370
14, 485
12, 998
12, 853
5,194
8,937
9,707
(5)
1 Includes matured debt on which interest has ceased.
23 Bonds, debentures, and notes payable, including securities held by the U. S. Treasury.
Bonds, debentures, and notes payable.
39, 857
42, 398
46, 435
41, 510
47,483
47, 713
(5)
Federal
Government
securities
held by
Federal
agencies
and trust
funds
27, 041
30, 913
34, 352
37, 317
39, 346
39, 197
40, 958
Net debt
Federal agency securities
Total
12, 816
11, 485
12,083
4,193
8,137
8,516
(5)
in
Held by Held
Federal
U.S.
trust
Treasury funds
11, 775
10, 693
11, 840
3,953
7,304
8,470
9,097
*5 Less than $500,000.
Not available.
Source: U. S. Treasury Department.
(4)
(*)
(44)
(4)
()
(45)
()
3
Federal
Govern- Federal
ment
and GovernHeld by Federal
other
ment
agency,
Federal
total
agencies
1,041
792
243
240
833
46
(5)
252, 742
229, 749
223, 318
216, 484
218, 584
218, 702
(5)
251,073
228, 236
222, 548
215, 483
217, 784
217, 511
214, 264
Federal
agency
1,669
1,513
770
1,001
800
1,191
(8)
SUEVEY OF CUEEENT BUSINESS
22
September 1951
Table 4.—Gross and Net State and Local Government Debt, June 30, 1945-50
[Millions of dollars]
•
Duplicating debt 2
Gross debt
Local
State
and
local,
total *
End of fiscal year
State
16, 589
15, 922
16, 825
18, 702
20, 875
23, 647
1945
1946
1947
1948
1949
1950
Total
2,425
2,358
2,978
3,722
4,024
5,323
14, 164
13, 564
13, 847
14, 980
16, 851
18, 324
City and School
County towndisship
trict
1,545
1,417
1,481
1,408
1,603
1,666
8,589
8,267
8,275
9,135
9,806
10, 444
1,363
1,283
1,355
1,560
2,147
2,710
Special
district
2,667
2,597
2,736
2,877
3, 295
3,504
1 Includes State loans to local units.
2 Comprises State and local government securities held by State and local governments.
State
and
local,
total
Net debt
State
Total
2,864
2,349
2,428
2,476
2,726
3,260
Local
Sinking
funds
Trust,
etc.,
funds
175
141
144
154
151
250
871
613
660
697
819
940
1,046
'754
804
851
970
1,190
Sinking
funds
Total
1,818
1,595
1,624
1,625
1,756
2,070
960
869
860
847
868
985
Trust,
etc.,
funds
858
726
764
778
888
1,085
State
and
local,
total
13, 725
13, 573
14, 397
16, 226
18, 149
20, 387
State
1,379
1,604
2,174
2,871
3,054
4,133
Local
12, 346
11, 969
12, 223
13, 355
15, 095
16, 254
Source: U. S. Department of Commerce, Bureau of the Census and Office of Business
Economics.
Table 5.—Gross and Net Corporate Debt, End of Calendar Year, 1945-50
[Millions of dollars]
All corporations
Railway corporations
Short-term *
Short-term 1
End of year
Total
Longterm *
Total
Notes
and
accounts
payable
Nonrailway corporations
Total
Longterm i
Total
Other
Notes
and
accounts
payable
Short-term 1
Total
Longterm i
Other
Total
Notes
and
accounts
payable
Other
Gross Corporate Debt
1945
1946
1947
1948
1949
1950
- --...
-
- ---
99, 523
109, 292
128, 157
138, 738
135, 474
158, 860
45, 321
48, 435
54, 988
62, 808
66, 372
69, 915
54, 202
60, 857
73, 169
75, 930
69, 102
88, 945
25, 718
31, 667
37, 676
39, 349
35, 633
44, 505
28, 484
29,190
35, 493
36, 581
33, 469
44, 440
15, 411
13, 714
14, 173
13, 995
13, 710
13, 927
11, 874
10, 877
11, 169
11, 124
11, 244
10, 883
3,537
2,837
3,004
2,871
2,466
3,044
881
799
904
872
769
913
2,656
2,038
2,100
1,999
1,697
2,131
84, 112
95, 578
113, 984
124, 743
121, 764
144, 933
33, 447
37, 558
43, 819
51, 684
55, 128
59, 032
50, 665
58, 020
70, 165
73, 059
66, 636
85, 901
24, 837
30, 868
36, 772
38, 477
34, 864
43, 592
25, 828
27, 152
33, 393
34, 582
31, 772
42, 309
386
340
327
291
262
295
124
111
126
121
107
127
262
229
201
170
155
168
12, 746
14, 947
17, 776
19, 479
19, 300
22, 299
5,900
6,625
7,730
9,117
9,725
10, 413
6,846
8,322
10, 046
10, 362
9,575
11, 886
4,140
5,145
6,121
6,414
5,812
7,267
2,706
3,177
3,925
3,948
3,763
4,619
3,151
2,497
2,677
2,580
2,204
2,749
757
688
778
751
662
786
2,394
1,809
1,899
1,829
1,542
1,963
71, 366
80, 631
96, 208
105, 264
102, 464
122, 634
27, 547
30, 933
36, 089
42, 567
45, 403
48, 619
43, 819
49, 698
60, 119
62, 697
57, 061
74, 015
20, 697
25, 723
30, 651
32, 063
29, 052
36, 325
23, 122
23, 975
29, 468
30, 634
28, 009
37, 690
Duplicating Corporate Debt
1945
1946
1947
1948
1949
1950
14, 231
15, 754
19, 275
20, 975
20, 786
23, 922
6,999
7,092
8,902
10, 322
10, 949
11, 741
7,232
8,662
10, 373
10, 653
9,837
12, 181
4,264
5,256
6,247
6,535
5,919
7,394
2,968
3,406
4,126
4,118
3,918
4,787
1,485
807
1,499
1,496
1,486
1,623
1,099
467
1,172
1,205
1,224
1,328
Net Corporate Debt
1945
1946
1947
1948
1949
1950
--
85, 292
93, 538
108, 882
117, 763
114, 688
134, 938
38, 322
41, 343
46, 086
52, 486
55, 423
58, 174
46, 970
52, 195
62, 796
65, 277
59, 265
76, 764
21, 454
26, 411
31, 429
32, 814
29, 714
37, 111
25, 516
25, 784
31, 367
32, 403
29, 551
39, 653
13, 926
12, 907
12, 674
12, 499
12, 224
12, 304
1
10, 775
10, 410
9,997
9.919
10, 020
9,555
Long-term debt is defined as having an original maturity of 1 year or more from date of
issue; short-term debt as having an original maturity of less than 1 year.
Sources: U. S. Treasury Department, Bureau of Internal Revenue; Interstate Commerce
Commission; U. S.|Department of Commerce, Office of Business Economics.
Life insurance companies were the greatest single source of
funds in 1950—expanding mortgage portfolios by $3 billion.
Mutual and commercial banks together added $3.5 billion
to their holdings, while savings and loan associations, the
largest single holders of 1-4 family residential mortgages,
increased their investments by $2.1 billion.
5 percent decline from the previous year. Excluding Commodity Credit Corporation loans and guarantees, the remainder represents the credit extended to farmers and cooperatives by commercial banks and farm credit agencies.
These outstandings advanced from $4% billion at the close
of 1949 to over $5 billion in 1950, rising 16 percent.
Commodity Credit Corporation loans and guarantees are
not debt in the usual sense, since the loans are nonrecourse in
form and arise in connection with price-support activity by
the Government. Price-support loans outstanding dropped
$1 billion during 1950, reflecting higher prices for farm
products.
The Bureau of Agricultural Economics estimates that farm
consumer indebtedness totaled about $2^ billion at the close
of 1950 (such credit is included in the consumer debt category
in this study). Short-term debt for both consumption and
production purposes climbed noticeably as farmers made
larger use of credit in financing such working capital assets
and durable goods as machinery and equipment, motor
vehicles, building materials, livestock, and home furnishings
and equipment.
Farm debt continues upward
The postwar farm mortgage debt increase continued
through 1950 at an accelerating pace; the 8 percent expansion
during the year raised the total outstanding to $5.8 billion.
Factors in the farm mortgage market in 1950 were increased
turnover (indicated by an upturn in the volume of farm
sales and mortgage recordings) and higher prices for farm
land. An important limitation in new debt formation is the
strong income and liquid asset position of farmers—approximately 40 percent of farm sales in 1950 were on an all-cash
basis. Forced mortgage liquidation by foreclosure or
involuntary sales remained at a low level.
A total of $6.1 billion in production loan credit was outstanding against farmers at the close of 1950, reflecting a
SUEVEY OF CUEKENT BUSINESS
September 1951
Noncorporate commercial debt shows marked
gain
In the noncorporate, nonfarm sector, commercial debt
rose 27 percent above the 1949 level in registering a $2 billion
gain. This series (table 7) represents bank commercial and
industrial loans to noncorporate businesses, overdrafts, and
loans to institutional borrowers. (Trade payables carried
on the books of noncorporate business firms are not included
because of the lack of basic data.)
Generally speaking, noncorporate businesses use shortterm borrowings primarily to finance working capital requirements. In this regard it is interesting to note that a $1.6
billion debt addition was accompanied by a $2.7 billion expansion in inventory book value. Institutional borrowers
(building and loan associations, credit unions, clubs, churches,
etc.) also made sizable additions to their short-term debt
in 1950.
Security loans rise
Loans to purchase or carry securities mounted rapidly dur
ing 1950, reaching $4.2 billion at the end of the year (an increase of 20 percent). This rise in security loans outstanding
can be attributed to buoyant market conditions and the low
margin requirements in force during most of 1949 and all of
1950. While the expansion during 1950 was quite rapid,
the total at the end of the year was still only about half of
the level reached in 1945.
Loans by banks on stock collateral and extension of credit
by brokers and dealers are controlled by the Board of Governors of the Federal Eeserye System under regulations U
and T. As part of a flexible credit control program, the
Board of Governors raised margin requirements to 100 percent in January 1946, in order to curb speculative activity in
23
the face of postwar inflationary tendencies. In the ensuing
year outstanding loans were cut in half. As inflationary
pressures abated, margin requirements were dropped to 75
percent in 1947 and lowered to 50 percent in 1949. Early
this year and in line with a more stringent credit policy, the
Board reimposed the 75 percent requirement.
Policy loans of life insurance companies increased during
1950, bringing total loans at $2.4 billion up 24 percent from
the $1.9 billion outstanding at the beginning of the postwar
period. This expansion has been attributed to increased
policy ownership and larger accumulated loan values, rather
than to any significant increase in distress borrowing. Larger
repayments of old loans have of course been an offsetting
factor. New policy loans in 1950 totaling $518 million
were substantially offset by repayments and maturity retirements of $344 million.
Consumer credit continues upward
Expanding for the seventh successive year, consumer credit
reached $20 billion in 1950, registering a 20 percent gain over
the previous year. The $3% billion added to consumer debt
during 1950 was the largest absolute gain ever recorded. Installment credit increased 24 percent during the year, while
the remaining forms of consumer credit advanced 12 percent.
Federal Reserve Board control of consumer installment
credit was reinitiated in September 1950 and stricter terms
announced a month later (Regulation W). The purpose of
the regulation was to assist in the moderation of inflationary
pressures and the proper allocation of production in a mobilization period. In terms of ability to pay, there is little
doubt that consumers in the aggregate are well able to carry
their current obligations. The present level of consumer
credit outstanding is about one-tenth of disposable personal
Table 6.—Nonfarm Mortgage Debt by Borrowing and Lending Groups, by Type of Property, End of Calendar Year, 1945—50 1
[Millions of dollars]
Residential and commercial
End of year
Total
1945
1946
1947
1948
1949
1950
_
.
31, 684
37, 974
45, 248
52, 419
58, 379
68, 518
Corpo- Noncorporate
rate bor-2 borrowrowers
ers
3,830
4,422
5,135
5,847
6,515
7,452
27, 854
33, 552
40, 113
46, 572
51, 864
61,066
1-4 family residential
Total
Savings
and loan
associations
Life insurance
carriers
5,376
7,140
8,856
10, 305
11,616
13, 725
2,258
2,570
3,459
4,925
5,970
8,392
19, 653
24, 452
29, 880
35, 131
39, 108
46, 941
1 The data represent mortgage loans on commercial and residential property, and exclude
real estate mortgage bonds. Multifamily and commercial property mortgages owed by
corporations
and held by other nonfinancial corporations are also excluded.
2
The corporate mortgage debt total is included in the totalI corporate 1<long-term debt
outstanding, table 5.
Mutual
savings
banks
Multifamily residential and commercial
Commercial
banks
1,894
2,033
2,237
2,742
3,190
3,850 .
2,873
4,573
6,292
7,380
7,941
9, 464
IndiH.O.L.C. viduals
and
others
852
636
486
369
231
10
Total
6,400
7,500
8,550
9,410
10, 160
11, 500
Life insurance
carriers
Mutual
savings
banks
Commercial
banks
3,602
3,790
4,321
4,918
5,798
6,378
2,306
2,399
2,591
3,031
3,478
4,368
1,378
1,960
2,331
2,639
2,795
3,231
12, 031
13, 522
15, 368
17, 288
19, 271
21, 577
Individuals
and
others
4,745
5,373
6,125
6,700
7,200
7,600
Sources:
Sources: Federal Savings and Loan Insurance Corporation; U. S. Department of Commesrce, Office of Business Economics.
Table 7.—Individual and Noncorporate Debt, End of Calendar Year, 1945-50
[Millions of dollars]
Farm
End of year
1945
1946
1947
1948
1949
1950
1
2
Farm and
nonfarm
total
55, 502
61, 995
72, 891
84, 841
94, 206
109, 941
Nonfarm
Nonfarm mortgage
pro- Total nonmort- Farm
Total farm Farm
duction
farm
gage i
loans 2
7,172
7,532
8,428
10, 613
11, 856
11, 977
4,682
4,777
4,882
5,108
5,407
5,828
2,490
2,755
3,546
5,505
6,449
6,149
Includes regular mortgages, purchase-money mortgages, and sales contracts.
Includes agricultural loans to farmers and farmers' cooperatives by institutional lenders;
farmers' financial and consumer debt is included under the "nonfarm" ™^«-™MQO
3 Comprises Jdebt owed to banks for purchasing or carrying securities, customers' debt to
brokers, and debt owed to life insurance companies by policyholders.
48, 330
54, 463
64, 463
74, 228
82, 350
97, 964
Total
27, 854
33, 552
40, 113
46, 572
51, 864
61,066
Other
Multi1-4 family family and
commercial
18, 670
23, 229
28, 381
33, 374
37, 153
44, 594
9,184
10, 323
11, 732
13, 198
14, 711
16, 472
Total
20, 476
20, 911
24, 350
27, 656
30, 486
36, 898
Commercial (nonfarm)
4,437
6,273
7,603
8,087
7,632
9,677
Financial 3 Consumer
10, 412
5,961
4,885
5,203
6,045
7,124
5,627
8,677
11, 862
14, 366
16, 809
20,097
Sources: U. S. Department of Agriculture, Bureau of Agricultural Economics; Board of
Governors of the Federal Reserve System; U. S. Department of Commerce, Office of Business
Economics.
SURVEY OF CURKENT BUSINESS
24
income (personal income after income taxes and other payments to Government), and one-eighth of personal holdings
of liquid assets.
TECHNICAL NOTE
The concepts employed in this study were fully discussed in the article published in the
October 1950 issue of the Survey, page 13. The adjustments for duplication are self-explanatory in tables 3 and 4; duplicating corporate debt (table 5) is confined to debt owed to other
members of an affiliated system. The reader is also referred to the same source for estimates
for years prior to 1945.
The Business Situation
(Continued from p. 12}
overall deficit of the ERP countries with the United States
from rising as fast as the increased requirements would
otherwise suggest.
A geographic breakdown of these developments discloses
that while a large part of the additional dollar requirements
are originating in the United Kingdom, the increased dollar
expenditures by the United States are more likely to benefit
the European continent.
Government aid to Europe, other than military, increased
slightly from the preceding quarter. The second quarter
disbursements of $600 million were at a considerably higher
rate, however, than the amounts likely to be disbursed
during the current year from unexpended (but allocated)
funds from previous years' appropriations and the new appropriations authorized by the House and Senate. Consequently, the aid disbursements are likely to decline soon
below the second quarter rate of the deficit on goods and
services other than military of nearly $2 billion.
Thus, new adjustments in the transactions between Europe
and the United States will be required as economic aid is
reduced, and alternative means of securing goods are
developed.
Increased outflow of capital finances
Canadian deficit
The rising surplus on goods and services with Canada was
financed largely by an increased outflow of private United
States capital. Most of this increase consisted of loans and
was induced by credit restrictions and the resulting rising
interest rates in Canada, which led borrowers in that country
to look to the United States for funds. Since these credit
restrictions can also be expected to reduce the demand for
imports from the United States, the Canadian deficit can be
expected to decline and the form of financing which was
available during the second quarter may not have to be
relied upon in the future.
Large military purchases by Canada in the United States,
unless they are offset by similar purchases by the United
States in Canada, may prevent this favorable development.
Latin American deficit less basic
The Latin American deficit, aside from that part which is
caused by the lower imports of coffee during the second
quarter, does not appear to be so basic as that of Europe.
Latin America has been a major beneficiary of the large rise
in demand for, and prices of, raw materials and foodstuffs
in the past year, and even the price declines during the last
months are unlikely to affect the total dollar earnings of these
countries. The rise in United States exports, particularly
to countries which recently relaxed exchange restrictions,
may continue so long as the goods are available here or until
such higher exports again induce exchange stringencies. It
is not impossible, however, that even in some of these countries inventories of imported goods will accumulate before a
September 1951
Estimates for 1945 through 1949 as published in the October 1950 issue have been revised in
the present article because of revisions in the Federal Savings and Loan Insurance Corporation series for mortgage debt on 1-4 family nonfarm homes and in the Federal Reserve Board
series for consumer credit outstanding. Neither of these revisions, which run back to 1929 in
each instance, have been incorporated in the present series prior to the year 1945. In the case
of the F. S. L. I. C. revision, the effect upon the debt components in tables 1 and 2 is negligible;
in the case of the F. R. B. revision, only a matter of classification in table 7 is involved (singlepayment loans of over $3,000 by commercial banks have been excluded from consumer credit
and added to unincorporated financial and commercial debt). Other revisions for recent
years have resulted from the incorporation of additional basic data.
tightening of exchange restrictions becomes necessary, thus
inducing a ."normal," or market, decline in the demand for
imports from the United States.
Sterling area may have small deficit
It appears that all the expected changes in exports, imports and Government aid will result in a decline of the
surplus on goods, services, and unilateral transfers of the
sterling area with the United States, which amounted to $1
billion at an annual rate during the first half of 1951, or may
even create a small deficit. Additional dollar requirements
arising from purchases in Canada, Cuba, and other dollar
countries and from purchases of oil produced abroad by
American companies will accentuate these changes in the
dollar account of the sterling areas.
As in the previous experiences with rising disequilibrium in
the dollar transactions of the sterling area, the known transactions directly with the United States do not altogether
explain the intensity of the development. Quite regularly
at such occasions the unaccounted-for payments by the
sterling area rise rapidly. From the first to the second
quarter of 1951, these transactions by the sterling area rose
from net dollar receipts of about $156 million to net payments
of $223 million. This compares with a net increase in the
errors and omissions in the United States balance of payments
with all countries by only $60 million. A large part of this
shift in the unexplained transactions of the sterling area may
be due to the decline in United States purchases of wool,
rubber, and tin from the first to the second quarter, which are
not reflected in the actual import figures since the latter lag
several months behind the purchases.
Another part may reflect hidden capital movements, although there do not appear to have been any particular
reasons during that period for major shifts of capital to the
United States.
More likely, however, are increased dollar payments
against sterling to other countries which—as happened in
1947—required increased dollar resources to facilitate larger
purchases in this country as long as the opportunity for such
purchases was favorable. If this is the case, it would indicate again the sensitivity of the British dollar reserves to
developments of the balance of payments in the rest of the
world—not only the sterling area—resulting from the large
liquid sterling assets held by countries outside the sterling
area as monetary reserves and commercial working balances.
Unlike in 1947 and 1949, when the change in the balance
of payments of the sterling area with the United States
reflected a substantial increase in the deficit of the sterling
area, the change is now from a large surplus to a position
not far from balance. Furthermore, rising supply stringencies in the United States may again reduce exports to the
sterling area countries and curtail the demand for dollars
by other countries. In fact, the continued high imports by
the United States coupled with a rising scarcity of goods
available for commercial exports may create in the not too
far distant future a new surplus in the balance of payments of
foreign countries with the United States, enabling them again
to build up their gold and dollar reserves.
BUSINESS STATISTICS
JL HE DATA here are a continuation of the statistics published in the 1949 Statistical Supplement to the SURVEY OF CURRENT BUSINESS.
That volume (price $1.25) contains monthly data for the years 1945 to 1948, and monthly averages for earlier years back to 1935 insofar as available ; it also provides a description of each series and references to sources of monthly figures prior to 1945. Series added or revised since publication of the 1949 Supplement are indicated by an asterisk (*) and a dagger (f), respectively, the accompanying footnote indicating where historical
data and a descriptive note may be found. The terms "unadjusted" and "adjusted" used to designate index numbers and dollar values refer to
adjustment of monthly figures for seasonal variation.
Data subsequent to July 1951 for selected series will be found in the Weekly Supplement to the SURVEY.
Unless otherwise stated, statistics through
1948 and descriptive notes are shown in the
1949 Statistical Supplement to the Survey
1951
1950
July
August
September
October
November
December
January
February
March
April
May
June
July
GENERAL BUSINESS INDICATORS
NATIONAL INCOME AND PRODUCT!
Seasonally adjusted quarterly totals at annual rates:
National income, total
bil. of dol
Compensation of employees total
do
Wages and salaries, total
do
Private
do
Military
do
Government civilian
do
Supplements to wages and salaries
do
Proprietors' and rental income,
total $ do
1
Business and professionalc?
do
Farm
do
Rental income of persons
do
Corporate profits and inventory valuation adjustment, total
bil. of dol
Corporate profits before fax, total
__do
Corporate profits tax liability
do
Corporate profits after tax
do
Inventory valuation adjustment
do
Net interest
do
269.4
172.1
163.6
137.1
260.1
165.2
157.2
132.7
245.8
157.3
149.7
127.2
5.0
177 4
168 8
140 5
6.6
17.5
17.9
7.7
8.5
7.9
8 7
48 1
23 6
16.3
8 2
47.2
23.0
15.8
48.8
24.1
16.4
8.1
8.4
8.3
37.4
45.7
20.5
25.2
—8.3
55
42.2
50.3
22.5
27.8
—8.2
42.9
51.8
28.5
23.3
-8.9
5.6
5.6
—2.3
57
Gross national product, total
do
Personal consumption expenditures, total do
Durable goods
do
Nondurable goods
do
Services
do
Gross private domestic investment
do
New construction
do
Producers' durable equipment
do
Change in business inventories
do
Net foreign investment
do
Government purchases of goods and services,
total
bil. of dol
Federal (less Government sales)
do
State and local
do
287.4
202.5
34.3
105.5
62.7
47.3
23.5
24.5
—.7
o o
303.7
198.4
29.4
104.9
64.0
60.2
23.3
25.0
11.8
—2.7
318.5
208.2
31.5
111.5
65.2
59.6
23.9
26.5
9.3
325 6
201.7
25 9
109.5
66 2
63.5
22 3
26.7
14.4
40.8
21.2
19 7
47.8
27.3
20.4
52.9
31.9
21.1
60.0
38.5
21 4
Personal income, total
Less' Personal tax and nontax payments
Equals* Disposable personal income
Personal saving§
227.3
20 2
207 1
4 6
238. 3
23 1
215.2
16 8
244.1
26.6
217.5
93
250.0
27 1
222.8
21 1
45.6
23.2
14.3
do
do
do
do
-2.3
_ _ _
.5
PERSONAL INCOME, BY SOURCEf
Seasonally adjusted, at annual rates:
Total personal income
bil. of dol
Wage and salary receipts, total
do
Employer disbursements, total __ _ _ _ d o
Commodity -producing industries - do__
Distributive industries
do
Service industries.
do
Government
do
Less employee contributions for social insurance
bil. of dol__
Other labor income. __
__ do ._
Proprietors' and rental income
do
Personal interest income and dividends., do
Total transfer payments
do
Total nonagricultural income
do
222. 7
143.2
146.1
63.9
41.9
18.8
21.5
227.7
147.2
150.3
66.2
42 8
18.9
22.4
231.5
149.7
152.6
67.1
42 8
19.1
23.6
234.1
152.4
155.6
69.3
43.1
19.3
23.9
236.4
154.2
157.3
69.9
43.2
19.5
24.7
244.4
155.9
158. 9
70.8
43.6
19.6
24.9
243.6
158.0
161.6
71.7
44.3
19.9
25.7
243.3
160.0
163.4
72.4
44.5
19.8
26.7
245. 5
162.2
165.9
73.7
44.9
20.0
27.3
249.0
164.8
168.2
75.0
45.3
20.1
27.8
249.8
165.1
168.8
74.6
45.6
20.2
28.4
2.9
3.6
45.3
18.4
12.2
3.1
3.6
46.1
18.9
11.9
2.9
3.6
45.3
21.6
11.3
3.2
3.6
46.3
19.7
12.1
3.1
3.7
47.2
19.5
11.8
3.0
3.7
48. 1
25.0
11.7
3.6
3.7
50.5
18.8
12.6
3.4
38
48.2
19.2
12.1
3.7
3.8
47.7
19.7
12.1
3.4
3.8
48.1
20.2
12.1
3.7
3.8
48.0
20.2
12.7
204.0
208.6
212.9
214.3
215.5
223.4
221.4
222.9
225.2
227.8
229.0
' 251. 0
' 166. 4
«• 169. 9
75.2
r
45 6
-•20. 3
28.8
251 6
166.1
169 6
74 ^
Ar 7
20 2
on o
3.5
3.8
48 0
'20. 0
12.8
12.6
r 230. 1
299.2
r
3.5
q Q
AC\ q
19 8
NEW PLANT AND EQUIPMENT
EXPENDITURES
r
All industries, quarterly total
mil. of dol
4,700
5,830
6, 250
5,160
r
Manufacturing
_ do
2 460
2 050
2,790
3r 140
Mining
__
do._
200
180
180
200
r
Railroad
_ do
290
410
300
320
Other transportation
do__
120
120
140
140
r
Electric and gas utilities
do
820
750
890
940
r
Commercial and miscellaneous
.do
1,340
1,240
1,440
1, 470
r
Revised.
fRevised series. Quarterly estimates of national income, gross national product, and personal income and monthly estimates of personal income have been revised beginning 1948; for
these revisions and for earlier revisions (covering data for 1946-47), see tables 41, 43, 45, and 48 in part V of the National Income Supplement to the SURVEY, July 1951.
cf Includes inventory valuation adjustment.
§Personal saving is excess of disposable income over personal consumption expenditures shown as a component of gross national product above.
S-l
SURVEY OF CURRENT BUSINESS
S-2
Unless otherwise stated, statistics through
1948 and descriptive notes are shown in the
1949 Statistical Supplement to the Survey
September 1951
1951
1950
July
August
September
October
November
Decem- January
ber
February
March
April
May
June
July
GENERAL BUSINESS INDICATORS—Continued
FARM INCOME AND MARKETINGS
Cash receipts from farming, including Government
payments, total t
mil. of dol__
Farm marketings and CCC loans, total
do
Crops
do
Livestock and products, total
do
Dairy products
do
Meat animals
do
Poultry and eggs
do
Indexes of cash receipts from marketings and CCC
loans, unadjusted'^
All commodities
1935-39—100
Crops
_ -_ - do
Livestock and products
do
Indexes of volume of farm marketings, unadjusted :J
All commodities
1935-39=100..
Crops
_
do
Livestock and products
do__ _
r
2, 452
'2,439
' 1, 151
' 1, 288
'345
'708
'215
2,551
2,543
1,182
1,361
323
792
229
2,913
2,906
1,452
1,454
305
883
248
3,584
3,572
2,038
1,534
301
950
268
3,277
3,261
1,781
1,480
276
870
319
2,692
2,672
1,216
1,456
2.539
2,510
965
1.545
282
827
329
324
995
215
1,899
1,873
557
1.316
317
769
220
2,071
2,019
523
1,496
2,137
2,088
465
1,623
366
834
275
368
930
288
2,153
2,120
436
1,684
438
871
309
r
2, 170
' 2, 144
'607
1,537
2,673
2,662
1,106
1,556
437
753
296
409
833
284
383
414
359
437
509
384
538
715
405
484
608
391
402
426
384
378
338
408
281
195
346
303
183
393
313
163
427
319
153
444
'323
'213
'406
401
388
411
144
154
170
142
167
194
147
201
259
158
172
192
157
149
146
151
139
126
149
104
79
123
111
71
141
113
61
152
117
57
163
'123
'141
'84
152
152
158
148
353
371
'340
'142
INDUSTRIAL PRODUCTION
Federal Reserve Index
Unadjusted, combined index
Manufactures _
_
198
212
216
220
215
216
216
217
219
'222
223
223
"214
do
207
221
224
229
226
227
226
228
231
232
'232
233
"223
do_ _ .
do
do
do
do
do
do
do. _
do
237
228
161
174
155
265
202
199
207
249
236
177
192
170
279
212
212
212
253
245
179
196
170
283
216
219
209
263
253
176
198
165
303
223
225
217
260
246
168
197
153
311
226
228
221
266
253
158
195
140
321
227
230
219
264
255
153
190
134
322
224
226
220
268
252
154
193
134
328
217
215
222
275
263
160
195
141
335
209
202
225
278
264
169
185
161
277
263
168
173
165
'276
P264
'337
'205
'197
'339
'204
'197
"160
"146
"327
P202
"195
"219
214
229
162
234
221
242
172
223
223
239
175
229
240
249
177
269
221
186
176
253
J-183
278
249
292
260
285
246
304
262
'311
'255
241
242
184
275
272
262
232
207
180
269
"240
291
271
223
193
178
251
'185
284
265
227
211
178
246
241
251
287
273
233
231
182
250
'309
'248
'307
'239
"283
"209
182
219
259
453
99
87
107
178
223
141
198
237
265
458
119
106
128
189
195
134
201
217
272
465
123
109
133
190
156
152
201
205
282
488
115
107
121
173
119
158
197
180
298
'197
"191
'539
'300
'548
97
88
103
98
86
106
"302
"558
'159
'165
"177
"221
190
196
211
288
506
116
108
121
155
90
193
196
198
291
510
125
120
128
149
101
142
276
196
189
288
504
107
106
109
161
90
203
195
175
254
197
195
284
497
111
111
110
163
94
184
137
111
108
'124
"191
194
202
1935-39=100 _
. _.
Durable manufactures.
Iron and steel
Lumber and products
Furniture
Lumber
_ __
Machinery
Nonferrous metals and products ..
Fabricating
Smelting and refining
Stone, clay, and glass products. _ _ _ do
Cement
do
Clay products
_ _
do
Glass containers
__ _ do
Transportation equiprnent
do
Automobiles (inch parts)
do
Nondurable manufactures
_ __ . do _ _
Alcoholic beverages
do
Chemical products _ _ _ _ _
do
Industrial chemicals
do
Leather and products
__ . _ _ do
Leather tanning
do
Shoes
do
Manufactured food products
do
Dairy products
_
do
Meatpacking
do
Processed fruits and vegetables
do
Paper and products
Paper and pulp ..
Petroleum an d coal products
Coke
__
Printing and publishing..
Rubber products.
_
Textiles and products
Cotton consumption
Rayon deliveries
Wool textiles.
_
Tobacco products
_.
do
do
do_ _
do
.do
do
do
do
do
do
do '
191
172
166
229
176
150
222
165
123
361
134
160
191
181
238
176
161
236
189
155
366
172
204
184
243
178
172
244
193
251
183
183
250
201
191
253
178
182
250
197
188
263
182
179
251
105
203
192
272
187
164
244
100
208
198
269
183
176
235
314
265
194
185
296
524
118
104
127
149
120
147
97
208
198
269
184
179
239
'337
210
204
225
243
231
183
292
'298
'532
106
97
112
152
153
150
103
215
224
196
149
261
'164
'166
163
220
266
191
221
144
253
151
248
273
190
141
205
255
185
212
'209
"190
'263
'264
"264
188
238
179
247
'172
'255
'185
"159
P248
* 162
191
152
380
171
181
197
162
374
180
170
193
158
381
164
174
194
158
397
160
142
194
163
392
156
177
194
174
390
144
170
188
175
374
133
161
185
153
380
146
167
201
186
190
164
377
144
172
199
187
157
'378
137
178
183
123
380
167
* Minerals
Fuels
Anthracite
Bituminous coal
Crude petroleum. _
Metals.
do
do
do
do
do
do
149
148
68
109
171
158
163
162
97
142
177
170
168
167
92
144
184
171
169
170
102
151
184
161
159
165
84
138
184
124
153
163
80
143
178
93
159
169
96
151
184
94
153
163
89
125
185
94
153
163
48
127
189
92
162
167
64
133
191
129
168
168
83
126
192
166
' 169
'169
v 162
v 160
'191
172
v 191
" 167
Adjusted, combined index d" -
do
196
209
211
216
215
218
221
221
222
223
223
222
"213
do
206
218
220
225
224
229
231
232
234
234
233
232
» 222
do.
do
do
do
do
do.
. do
__do_ _
do
235
247
251
261
165
151
268
271
277
169
156
'279
170
162
276
216
166
150
268
212
166
150
260
212
212
209
215
217
229
225
243
225
247
'275
154
147
'204
221
'238
"263
"141
131
P 202
P220
" 238
' 186
"182
Manufactures
Durable manufactures
Lumber and products
Lumber
Nonferrous metals
Smelting and refining
Stone, clay, and glass products
Cement.
Clay products.
Glass containers
151
140
202
208
212
208
161
244
214
167
215
206
169
225
223
214
168
262
169
155
173
162
221
227
218
235
226
214
175
247
227
232
173
265
171
162
224
219
236
238
191
257
169
156
217
222
237
245
186
261
209
252
189
269
210
243
189
292
163
158
'205
224
235
231
184
257
86
133
235
269
66
105
226
285
r
195
194
181
201
196
195
Nondurable manufactures
_ do.
197
201
v 190
199
'198
198
!97
248
203
182
206
248
207
Alcoholic beverages
do
225
208
179
207
187
178
175
r
269
271
263
280
284
287
277
288
Chemical products
do
292
'296
302
298
"306
120
124
101
115
109
Leather and products
do.
115
122
108
118
106
97
99
108
91
111
106
Leather tanning
do__.
106
108
112
107
105
97
88
89
168
162
167
161
165
Manufactured food products
do
167
168
167
166
166
168
f 166
' 165
152
150
143
148
145
Dairy products
do
142
141
142
P 150
148
146
147
150
155
151
162
165
168
158
Meat packing
.
_ do_
171
148
149
159
163
145
15°
134
142
149
Processed fruits and vegetables
do
147
161
147
142
176
158
' 169
166
Mfi1
" 147
' Revised.
" Preliminary.
JData for 1947-49 were revised to incorporate changes in reports on production and sales of farm products. Revised figures for 1947 appear on p. 23 of the April 1950 SURVEY; those for
1948-49, on p. 24 of the January 1951 issue.
cTSeasonal factors for a number of industries were fixed at 100 during 1939-42; data for these industries are shown only in the unadjusted series.
SURVEY OF CURRENT BUSINESS
September 1951
Unless otherwise stated, statistics through
1948 and descriptive notes are shown in the
1949 Statistical Supplement to the Survey
S-3
1950
July
August
September
1951
October
November
December
January
February
March
April
May
June
July
GENERAL BUSINESS INDICATORS—Continued
INDUSTRIAL PRODUCTION—Continued
AdjustedcT — Continued
Manufactures— Continued
Nondurable manufactures— Continued
Paper and products
1935-39=100
Paper and pulp
do
Printing and publishing
-_
do
Tobacco products _
do __
Minerals
Metals
do
do _ _
173
166
162
154
191
181
169
197
194
185
172
172
202
193
179
165
201
191
174
171
197
189
175
153
204
192
170
177
207
197
177
179
208
198
176
170
214
204
183
177
212
200
176
172
"209
r
144
124
159
136
163
141
166
141
160
130
157
126
164
130
158
131
158
127
164
140
165
151
42.0
20.3
45.3
23.0
10.1
12.9
42.1
21.2
41.8
21.2
41.3
21.1
42.5
21.3
11.8
11.6
11.5
9.0
46.7
23.2
10.4
12.8
10.2
45.4
22.6
10.3
12.3
45.2
23.4
11.0
12.4
43.5
22.4
10.5
11.9
12.2
13.3
13.1
12.3
66.5
36.4
17.0
19.4
11.4
199
••173
171
*191
»171
161
166
»157
J>135
45.6
23.8
11.1
12.8
44.3
22.8
'10.7
'12.1
42.5
21.6
9.1
2.3
6.8
12.0
12.1
9.6
2.4
7.2
11.9
4.0
8.0
4.0
8.1
3.9
8.0
68.6
37.8
17.6
20.2
11.8
69.9
38.9
18.3
20.6
12.0
r
70. 5
"40.0
"19.0
'21.0
11.9
70.7
40.4
19.5
20.9
11.7
146
BUSINESS SALES AND INVENTORIES§
Business sales (adjusted) total!
bil. of dol
Manufacturing, total!
do
Durable-goods industries!
do
Nondurable-goods industries!
do
Wholesale trade, total
do
Durable-goods establishments. _
_ _ __do
Nonrlnrable-goorls establishments
do
Retail trade, total
do ___
Durable-goods stores.
do ___
Nondurable-goods stores
do
8.7
11.6
9.0
2.6
6.5
12.7
9.6
2.9
6.7
12.7
9.4
8.9
2.6
6.3
12.1
9.7
8.8
2.5
6. 3
11.8
9.8
9.7
11.4
8.8
2.4
6.4
11.4
*
2.5
6.5
2.9
7.3
9.6
2.7
6.9
9.5
2.7
6.8
9.1
2.5
6.6
9.6
2.5
7.1
9.7
11.9
11.8
4.4
7.7
4.2
7.6
54.5
29.9
13.9
16.0
56.4
30.7
14.1
16.7
58.7
31.8
14.4
17.3
10.2
60.3
33.0
15.1
17.9
10.5
61.6
34.1
15.8
18.3
10.8
63.4
34.9
16.2
18.7
11.0
64.4
35.5
16.7
18.8
11.1
15.1
15.8
16.7
16.8
16.8
17.4
17.8
19.0
19.0
18.7
18.6
5.5
9.6
18.6
10.0
10.2
10.2
10.1
10.6
10.9
11.1
11.2
11.0
10.8
10.8
18, 682
7,951
10, 731
22, 802
9,929
12, 872
21, 514
9,536
11, 979
22, 832
10, 339
12, 493
21, 256
9,586
11,671
21, 763
10, 104
11, 659
22,888
10, 174
12, 714
21, 808
9,891
11,917
24, 388
11, 597
12, 791
22, 423
10, 772
11, 651
23, 061
10, 853
12, 208
' 22, 375
' 10, 680
' 11, 695
19, 898
8,918
10, 980
Value (adjusted), total
do
Durable-goods industries, total. __
do ___
Iron, steel, and products
do
Nonferrous metals and products
do
Electrical machinery and equipment do
Machinery, except electrical
do
Motor vehicles and equipment
do
Transportation equipment, n. e. s __ do
Lumber and timber basic products
do
Furniture and finished lumber products_do
Stone, clay, and glass products.
do
Other durable-goods industries
do
20, 269
8,670
2,178
22, 956
10, 060
2,471
21, 154
9,392
2,345
21, 246
9,671
2,414
21, 112
9,730
2,448
21, 284
9,794
2,591
630
22, 646
10, 338
2,642
1,374
1,459
1,129
1,554
1,716
1,116
1,458
1,449
1,108
1,544
1,501
1,096
1,579
1,514
1,240
1,755
1,566
1,254
1,802
1,550
603
409
469
695
485
540
656
433
513
673
437
542
640
403
519
451
415
683
449
566
619
461
588
586
454
587
464
23,399
10, 993
2,790
607
1,249
1,946
1,696
421
659
537
603
486
22,389
10, 532
2,703
594
1,158
1,925
1,508
475
674
480
538
477
23,838
11, 077
2,823
582
1,246
2,004
1,610
502
698
515
626
471
' 22, 758
' 10, 660
* 2, 705
"594
' 1, 199
' 1, 992
' 1, 438
"485
"750
"465
"591
"440
21, 615
9,748
2,490
1,131
1,512
1,547
610
23, 166
10, 398
2,729
Nondurable-goods industries, total
do
Food and kindred products
do
Beverages
__
do
Tobacco manufactures
do
Textile-mill products
do
Apparel and related products.
do
Leather and products
do...
Paper and allied products.
_ ._
do
Printing and publishing
do
Chemicals and allied products
do
Petroleum and coal products
do
Rubber products.-.
.
do
Other nondurable-goods industries. _ .do
11, 599
3,245
12, 896
3,257
11, 762
3,038
11, 574
2,972
12, 768
3,559
12, 309
3,297
12, 406
3,331
11, 857
3,326
12, 762
3,825
1,206
1,544
1,256
1,354
1,293
1,426
955
335
620
633
1,407
1,371
1,270
1,386
381
633
615
1,667
1,859
1,583
1,853
11,490
3,147
468
270
1,264
778
270
667
585
1,512
1,827
424
278
' 12, 099
11, 867
r
3,122
3, 420
493
"501
'283
291
1,241
' 1, 303
809
'620
'292
302
'678
632
' 723
698
'1,684
1, 679*
' 1 863 1,892
Business inventories, book value, end of month
(adjusted), total t
bil. of dol
Manufacturing, total!
do
Durable-goods industries!
do ___
Nondurable-goods industries!
do
Wholesale trade, total
do. _.
Durable-goods establishments
do
Nondurable-goods establishments
do __.
Retail trade, total
do
Durable-goods stores
_do
Nondurable-goods stores
do
4.7
8.0
53.2
29.8
13.9
15.9
9.3
3.2
6.1
14.1
5.1
9.0
4.7
8.0
9.6
3.0
6.5
9.9
3.1
6.8
5.8
3.3
6.9
6.5
3.7
7.7
3.5
7.0
6.6
4.1
8.1
3.6
7.2
6.6
4.8
8.5
3.8
7.3
6.8
4.7
8.4
3.9
7.3
6.9
4.2
8.1
4.0
7.4
7.6
4.3
7.5
7.8
4.5
7.5
7.9
4.6
7.3
7.9
3.7
8.1
4.6
7.1
7.7
MANUFACTURERS' SALES, INVENTORIES,
AND ORDERS!
Sales:
Value (unadjusted), total
Durable-goods industries _
Nondurable-goods industries
Inventories, end of month :
Book value (unadjusted), total..
Durable-goods industries
Nondurable-goods industries
By stages of fabrication:
Purchased materials
Goods in process
Finished goods
mil. of dol
do
do
558
924
315
382
573
287
962
349
528
596
1,442
1,738
454
221
606
410
454
649
299
457
280
591
379
599
401
402
419
404
280
405
278
11,382
2,949
390
282
1,290
839
287
668
576
1,529
1,870
397
304
448
261
434
271
976
324
656
581
1,550
1,834
396
425
593
396
450
497
307
945
338
709
692
1,703
1,791
454
347
584
415
427
300
882
365
686
731
1,631
1,795
435
353
426
280
414
280
796
337
707
763
670
284
673
716
1,732
1,838
1,631
1,842
462
363
441
311
488
296
670
280
700
728
1,736
1 867
436
350
437
'295
581
1,011
1,916
1,197
532
608
403
543
466
271
do
do
do
29, 796
13, 928
15,868
29,742
13, 847
15, 894
30, 418
14, 050
16,368
31, 562
14, 386
17, 176
32, 904
14, 997
17, 907
34, 207
15, 680
18, 528
35, 278
16, 218
19, 060
35, 794
16, 682
19, 112
36, 675
17, 113
19, 562
37 787
17, 664
20, 123
38,861
18, 451
20, 410
' 39 739
' 19, 024
' 20, 715
40, 348
19, 520
20,828
do
do
do _
11, 510
6,998
11,287
11,883
7, 163
10, 696
12, 380
7,380
10, 658
13, 062
7,668
10, 833
13, 798
7,770
11, 336
14, 627
8,011
11, 570
15, 026
8 563
11, 689
15 079
8 976
11, 739
15 298
9 375
12, 002
15 491
9 804
12 492
15 568
10 045
13 248
.> 15 690
' 10 245
' 13 804
15 833
10 569
13 946
29, 830
13, 888
3,147
973
1,633
3,208
1,803
660
576
675
542
29, 858
13, 858
3,191
965
1,630
3,228
1,773
663
550
664
534
30, 732
14, 072
3,228
959
1,632
3,283
1,839
672
560
677
530
31, 770
14, 446
3,308
971
1,666
3,368
1,935
687
572
685
541
33, 007
15, 119
3,404
992
1,751
3,519
2,111
754
583
729
550
34, 061
15, 782
3,431
1,030
1,902
3,678
2,191
835
628
764
581
34, 928
16 248
3,458
1,012
1,968
3 801
2,263
950
631
798
600
7fi7
35 474
16 660
3,532
1 016
2,032
3 932
2,232
1,012
672
820
626
36 415
17 001
3,519
1 018
2,103
4 063
2,236
1,122
678
812
658
37 849
17 601
3,608
1 031
2,206
4 203
2,348
1,168
717
837
686
38 939
18 304
3,727
1 061
2,331
4 350
2,397
1,261
745
888
706
r 39 957
r is 978
' 3, 862
40 406
19 476
3,968
1 069
2,562
4 585
2,517
1,450
761
893
783
Book value (adjusted), total
do
Durable-goods industries, total..
do
Iron, steel, and products
do
Nonferrous metals and products...
do
Electrical machinery and equipment. _. do
Machinery, except electrical
do
Motor vehicles and equipment
do
Transportation equipment, n. e. s
do
Lumber and timber basic products
do
Furniture and finished lumber products. _do
Stone, clay, and glass products
do
Other durable-goods industries
do
671
661
692
713
727
743
7R7
7Q9
7Q7
82Q
r I 090
' 2, 460
4 482
' 2, 444
' 1, 372
r 762
889
r 747
r 87O
CCA
'Revised.
P Preliminary.
d"See note marked "<?" on p. S-2.
§The term "business" here includes only manufacturing and trade. Business inventories as shown on p. S-l cover data for all types of producers, both farm and nonfarm
!Revised series. Data on manufacturers' sales, inventories, and new orders have been revised beginning 1946. Revisions for 1946-49 and appropriate explanations appear on pp 16-23 of
the October 1950 SURVEY.
SURVEY OF CURRENT BUSINESS
S-4
September 1951
1951
1950
* 1948 and descriptive notes are shown in the
1949 Statistical Supplement to the Survey
July
August
September
October
November
December
January
February
March
April
May
June
July
GENERAL BUSINESS INDICATORS—Continued
MANUFACTURERS' SALES, INVENTORIES,
AND ORDER Sf— Continued
Inventories, end of month— Continued
Book value (adjusted) — Continued
Nondurable-goods industries, total.mil. of dol__
Food and kindred products
do _ _ _
Beverages
do
Tobacco manufactures
do_ _
Textile-mill products __
do __
Apparel and related products
do _
Leather and products. _
do _ Paper and allied products
_
do _
Printing and publishing
do
Chemicals and allied products- _
do
Petroleum and coal products
do
Rubber products
do
Other nondurable-goods industries . do. ._
15, 942
2,831
1,037
1,467
2,274
1,448
568
695
601
2,041
2,046
501
433
16, 000
2,820
1,048
1,562
2,285
1,455
573
671
593
2,043
2,050
483
416
16, 660
2,928
1,118
1,680
2,372
1,520
589
678
625
2,108
2, 108
502
432
17, 324
3,113
1,095
1,706
2,616
1,575
596
690
628
2.187
2,162
524
432
17, 887
3,190
1,145
1,717
2,768
1,647
608
699
651
2,267
2,180
564
452
18, 279
3,285
1,130
1,718
2,838
1,808
601
734
659
2,327
2,169
549
461
18, 681
3, 374
1,162
1,679
3,005
1,786
652
778
689
2, 370
2,134
564
488
18, 814
3, 435
1,202
1,642
3,046
1,768
598
791
710
2,424
2. 133
557
507
19, 414
3,618
1,262
1,658
3,110
1,854
616
833
723
2,505
2,164
556
514
20, 248
3,928
1,283
1,682
3,262
1,893
644
873
732
2,617
2,230
566
538
20, 635
3,966
1,283
1,705
3,351
1,898
666
891
755
2,687
2,295
585
554
' 20, 979
' 3, 935
New orders, net (unadjusted), total
do
Durable-goods industries, total.. __ __
do
Iron, steel, and products
do
Nonferrous metals and products
_ __do
Electrical machinery and equipment
do
Machinery, except electrical
do
Transportation equipment, except motor
vehicles
_ mil. ofdol__
Other durable-goods industries
do
Nondurable-goods industries _ _ .
do
22, 223
10, 553
2,724
637
934
1,764
27, 323
13, 863
3,277
814
1,572
2,197
23*760
11,500
2,989
683
1,423
1.948
24, 704
12.171
2, 950
666
1,439
2,016
22, 371
10, 621
2.638
661
1,257
1,935
23, 160
11,379
3,047
554
1,480
2,260
28, 860
15, 123
3, 517
658
1,527
2,641
25, 403
13, 153
3,014
602
1,601
2,819
28, 574
15, 478
3, 632
696
1,780
2,982
23, 927
12,614
3.156
699
1, 413
2,481
23, 318
11, 773
2,916
523
1,560
2,434
r
1,102
3,392
11, 670
1,600
4,404
13, 460
692
3,765
12, 259
800
4,300
12, 533
483
3,646
11, 750
504
3, 534
11, 781
2,395
4, 384
13, 738
' 1, 077
4,040
12, 250
1,970
4,418
13, 097
836
4,028
11, 313
788
3,552
11, 545
Unfilled orders (unadjusted), total*
do
Durable-goods industries
do
Iron, steel and products
do
Nonferrous metals and products
do ._
Electrical machinery and equipment
do
Machinery, except electrical
_ do
Transportation equipment, except motor
vehicles
_ - mil. of dol.
Other durable-goods industries
do
Nondurable-goods industries
do
26, 998
22, 171
6,593
679
2,434
3,758
31, 519
26, 105
7,348
914
2,940
4,433
33, 764
28, 070
7,923
1,006
3.250
4,909
35, 636
29, 902
8,286
1,029
3,477
5,363
36, 728
30. 914
8. 540
1.031
3. 594
5, 818
38, 125
32, 190
8,990
915
3,850
6,389
44, 097
37, 138
9,800
990
4,187
7,372
47, 691
40, 400
10,322
1,030
4,564
8,464
51, 878
44, 281
11,022
1,082
5,006
9,412
53, 383
46, 124
11, 451
1,171
5,235
9,934
53, 640
47, 043
11, 577
1, 123
5,611
10, 348
4,030
4,678
4,827
5,255
5,214
5,414
5,566
5,414
5,694
5, 971
5,776
5, 734
6,068
5,864
5.814
6,143
5,904
5,935
8, 157
6,633
6,959
8,847
7,172
7,292
10, 354
7,404
7,597
10, 696
7,637
7,259
10, 980
7,406
6,596
r 1, 284
T
I, 693
' 3, 489
«• 1, 882
'•684
'925
'766
r
2, 756
r
2, 353
612
r
600
23, 234
' 12, 018
r
2, 747
••514
r
1, 431
r
2, 480
r
20, 930
3,694
1,230
1,708
3,506
1,905
645
951
775
2,852
2,437
617
20, 967
10. 413
2,705
513
1,204
2,247
1, 057
3, 790
11, 216
769
2,976
10, 553
' 54, 499
48, 381
Ml, 614
r
1, 062
' 5, 861
r
10, 750
55, 568
49, 877
12, 040
1,091
6,179
11,213
r
11, 502
7, 593
6, 118
11,788
7 564
5,691
r
r
r
r
r
BUSINESS POPULATION
OPERATING BUSINESSES AND BUSINESS
TURN-OVERJ
3, 997. 7
366.9
303.3
856.2
1, 686. 4
204.8
579.9
3, 985. 6
365.5
303.1
853.6
1, 676. 9
205.0
581.6
p 4, 008. 8
p 372. 1
v 307. 1
P 856. 2
p 1.678. 5
P 206. 5
P 588. 4
do
do
do
do
do
do._
do
95.2
14.8
10.4
17.8
35.3
4.3
12.5
80.7
12 2
9.6
15 4
27.7
3.7
12.2
122.0
21 0
14.4
21 9
41.3
5.3
18.1
Discontinued businesses, quarterly total
Contract construction
Manufacturing
_ _ _ _ _ __
Service industries
Retail trade
Wholesale trade
All other
do
do
do
do
do
do
do
83.6
10.3
10.5
16.0
35.1
33
8.4
92 8
13.6
9.8
18.0
37.3
3 6
10.5
p98 9
v 14 5
v 10.4
v 19.2
P 39 7
p3 8
p 11.2
Business transfers, quarterly total
do
88.2
67 0
93 8
Operating businesses, total, end of quarter thous
Contract construction
do
Manufacturing
do
Service industries
do
Retail trade
.
do _
Wholesale trade
do
All other
-_.
-_do
New businesses, quarterly total
Contract construction
Manufacturing
Service industries
Retail trade
Wholesale trade
_ .
All other
_
BUSINESS INCORPORATIONS
New incorporations (48 States) * _
number
7,191
7,201
6,277
6,782
6,256
6,780
8,515
6,590
7,649
7 653
7 544
r g glQ
v 6 386
694
62
65
151
343
73
787
51
91
173
402
70
648
43
75
147
314
69
707
64
91
150
339
63
683
67
87
150
310
69
679
67
62
143
330
77
775
63
97
132
410
73
599
59
60
107
304
69
732
69
83
115
377
88
693
52
81
119
365
76
755
64
94
128
385
84
699
43
71
129
390
66
665
55
74
130
340
66
19, 538
1,495
1,619
8,533
5,251
2,640
18, 448
2,077
1,233
7,225
5,685
2,228
15, 254
1,450
1,303
5,855
4,775
1,871
16, 649
2,009
2,410
5,949
4,683
1,598
18, 864
1,742
2,726
8,412
4,235
1,749
044
205
748
352
479
260
21 685
1 482
2 393
5 175
10 376
2 259
16 009
1 399
2 228
6 134
4 357
1 891
17 652
1 375
3 292
5 169
5 605
2 211
17 064
1 055
2 268
5 894
5 647
2 200
23 504
1 871
4 655
5 497
7 487
3 994
22 773
1 006
3 085
5 014
7 434
6 234
INDUSTRIAL AND COMMERCIAL
FAILURES
Failures, totalcf_
Commercial serviced"
Construction __
Manufacturing and mining
Retail trade.Wholesale trade
Liabilities, total &
Commercial serviced"
Construction
Manufacturing and mining
Retail trade
Wholesale trade—
.
r
number
do
do
do
do
do
thous. of dol
do _
do
do
do
do
21
3
4
5
5
2
21
1
2
7
4
4
088
398
666
790
778
455
Revised.
* Preliminary.
fRevised series. See corresponding note on p. S-3.
*New series. For data on unfilled orders beginning 1946, see p. 22 of the October 1950 SURVEY. Data on new incorporations are compiled by Dun & Bradstreet, Inc.; they are available for
the 48 States beginning 1946, and for 47 States (excluding Louisiana) beginning July 1945; figures through 1948 are shown on p. 21 of the May 1950 SURVEY.
JThe number of operating businesses has been revised to reflect revisions in the number of new businesses beginning with the fourth quarter of 1947 and in the number of discontinued
businesses beginning with the fourth quarter of 1948. Revisions prior to the third quarter of 1949 will be shown later.
cFData are from Dun & Bradstreet, Inc. Scattered monthly revisions for the indicated series are shown on p. S-4 of the February 1950 SURVEY.
SURVEY OF CURRENT BUSINESS
September 1951
Unless otherwise stated, statistics through
1948 and descriptive notes are shown in the
1949 Statistical Supplement to the Survey
S-5
1950
July
August
September
1951
October
November
December
January
February
March
April
May
June
July
COMMODITY PRICES
PRICES RECEIVED AND PAID BY FARMERS
263
236
226
195
387
278
211
200
267
287
371
232
173
267
239
224
193
399
311
200
164
293
292
369
240
191
272
243
221
194
428
336
217
126
303
298
372
248
196
268
238
219
188
426
327
207
138
300
296
358
261
201
276
250
224
192
428
346
194
188
351
299
357
267
209
286
258
233
202
436
339
202
211
366
311
360
272
249
300
275
240
214
442
347
192
324
374
323
391
286
203
313
283
254
222
440
351
204
333
379
340
425
285
205
311
276
245
221
437
359
202
265
386
343
428
280
217
309
275
247
222
438
363
209
225
385
340
428
273
215
305
271
244
223
438
357
194
239
380
335
418
270
221
301
263
240
217
438
353
200
189
358
335
422
269
217
294
252
236
213
438
329
175
204
317
332
414
272
222
247
245
249
248
248
249
252
252
251
253
254
251
255
256
254
257
257
257
262
260
264
267
265
270
272
269
274
273
269
276
272
270
274
272
270
273
271
270
272
256
258
260
261
263
265
272
276
280
283
283
282
282
103
103
105
103
105
108
110
113
111
109
108
107
104
All commodities (U. S. Department of Commerce
index)
1935-39=100
190.0
190.8
192.6
193.9
194.9
198.4
202.4
204.9
205.8
205.6
206 5
206 5
206 7
Coal (U. S. Department of Labor indexes):
Anthracite
Oct. 1922-Sept. 1925=100..
Bituralnous
do
150. 3
160.5
153.9
162.4
155.8
164.0
157.4
166.6
158.6
167.0
159.7
167.3
160.3
167.9
168.3
168.7
170.0
168.9
169.1
168.6
162.9
165 9
165 2
165 6
166.5
166 5
Consumers' price index (U. S. Dept. of Labor):©
AllitemsO
—
_._ 1935-39 =100 .
\pparel
do
Food
__
-_.
do
Cereals and bakery products
do
Dairy Droducts
do
Fruits *ind vegetables
do
Meats, poultry, and
fish
_. do__
Fuel, electricity, and refrigeration.
do
Gas and electricity
_
_ _ _ do
Other fuels
do
House furnishings
-.
do
RentO
do. __
Miscellaneous
do
172.0
184.5
208.2
171. 5
180.7
211.5
255.7
139.4
96.9
189.9
186.1
131.3
155.2
173.4
185.7
209.9
175.5
184.3
193.4
260.7
140.2
96.8
192.9
189.1
131.6
156.8
174.6
189.8
210.0
176.9
186.9
186.0
261.0
141.2
96.9
196.1
194.2
131.8
157.8
175.6
193.0
210.6
177.2
191.9
189.8
253.3
142.0
96.8
199.2
198.7
132.0
158.3
176.4
194.3
210.8
177.6
192.8
195.7
250. 3
142.5
96.8
200.8
201.1
132.5
159.2
178.8
195.5
216. 3
177.7
194.0
203.9
253.4
142.8
96.8
201.7
203.2
132.9
160.6
181.5
198.5
221.9
185.4
202.6
214.1
263.6
143.3
97.2
202.3
207.4
133.2
162.1
183.8
202.0
226.0
187.1
204.4
224.3
270.1
143.9
97.2
204 5
209.7
134.0
163.2
184.5
203.1
226.2
187. 5 ,
204.6
217.1
272.2
144.2
97.2
205 0
210.7
134.7
164.3
184.6
203.6
225.7
188.3
204.1
214.8
272.6
144.0
96.9
205 0
211.8
135.1
164.6
185.4
204 0
227.4
188.2
203.5
221 6
272 8
143.6
97 3
202 4
212 6
135.4
165 0
185 2
204 0
226 9
188.4
203 9
219 9
271 6
143.6
97 1
202 8
212 5
135 7
164 8
185.5
203 3
227.7
189.0
205.1
218 5
273.2
144.0
97 2
203 7
212 4
136.2
165 0
162.9
166.4
169.5
169.1
171.7
175.3
180.1
183.6
184.0
183.6
182.9
r
181 8
179.5
158.0
175.8
152.9
176.0
173.5
215.8
159.8
161.2
179.1
159.3
177.6
167.7
217.3
163.7
164.0
181.8
165.7
180.4
166.5
211.3
166.9
163.5
180.2
169.3
177.8
165.3
198.7
166.9
165.1
184.5
173.0
183.7
172.1
197.3
168.8
169.0
187.1
178.1
187.4
180.9
204.9
172.4
173. 1
192.6
185.0
194.2
186.6
222.2
176.7
175.5
199.1
187.1
202.6
192 0
238.2
179.2
175.8
199.4
187.5
203. 8
188 0
241.2
179.3
176.1
197.7
187.1
202.5
189 1
240.9
179.2
176.2
195 5
r
186. 4
199 6
185 6
234 8
179.0
T
175. 6
194 7
r
180. 3
198 6
178 6
235 8
177 8
175.1
189 8
174.1
194 0
178 0
233 9
176.0
171.4
151.2
141.8
137.0
240.7
174.6
154.9
148.0
132.0
240.2
177.2
155.5
154.7
131.0
241.0
172.5
153.8
160.8
129.5
223.7
175.2
154.1
164.1
140.4
223.4
179.0
157.6
164.4
138.0
233.7
182.2
163.0
171.5
136.1
242.7
187 6
166.3
173 0
142.4
255.2
186 6
164.5
170 3
139.9
254.5
185 8
164.5
166 6
140.0
255.1
187 3
163 6
164 9
146.5
257 2
186 3
162 3
163 4
146 3
255 2
186 0
162 3
167 5
144 3
254 6
Commodities other than farm products and
foods
1926= 100
Building materials
do
Brick and tile
do
Cement
do
Lumber
do
Paint and paint materials.
.do
151.6
207.2
165.4
135.3
338.0
138.6
155.5
213.9
167.9
135.5
357.6
142.4
159.2
219.7
170.2
136.3
371.5
145.9
161.5
218.9
177.2
140.2
358.4
145.7
163.7
217.8
177.6
140.8
347.6
148.2
166.7
221.4
179.1
141.2
348.4
154.9
170.3
226.1
180.7
147.2
356.8
162.1
171 8
228 1
180 8
147 1
359 8
164.0
172.4
228 5
180 8
147.1
361 2
164.4
172.3
228 5
180 8
147 2
361 0
164.7
r 171 g
227 8
180 8
147 2
r 358 g
163.7
r 17Q g
225 6
180 8
147 2
352 3
161.6
168 7
223 8
180 8
147 2
347 2
159.1
Chemicals and allied products _ _
do
Chemicals
._
do
Drugs and pharmaceutical materials.do
Fertilizer materials
do...
Oils and fats
_
do
118.1
119.1
129.1
110.1
126.0
122.5
121.9
135.0
112.1
142.7
128.7
125.4
153.4
111.4
163.9
132.2
131.6
161.1
111.2
160.3
135.7
134.3
163.8
112.0
171.5
139.6
136.1
175.1
115.6
180.9
144.5
138.1
184.4
118.1
200.4
147.3
139 0
185.2
118.1
217 3
146.4
138 2
185. 1
118.1
214.6
147.9
145 0
184.5
117.8
198 7
r
r
142. 3
144 0
185.3
115.1
r 181 0
r IQI 2
139.4
143 1
184.7
119. 0
139 3
Fuel and lighting materials
Electricity
_
Gas
_
Petroleum and products
do
do
do
do
133.5
67.0
88.3
115.5
134.2
65.5
88.1
116.8
134.9
65.6
89.0
117.8
135.3
65.2
88.9
118.0
135.7
65.5
90.5
118.1
135.7
65.7
90 2
118.0
136.4
65.7
90.0
119.4
138. 1
66 4
92 2
119.4
138.6
65 1
93 8
120.3
138.1
64 8
93 3
120.0
137.5
64 7
92 9
119.7
137.8
137.8
92 9
120.0
120.4
Hides and leather products
Hides and skins.
Leather
Shoes
do
do
do
do
187.2
219.8
185.3
185.8
195.6
238.2
192 3
191.4
203.0
264.7
196.8
194.9
208.6
266.3
201 3
200.5
211.5
269.3
204 9
203.7
218.7
277.5
213.8
209.3
234.8
318.2
224.8
219.4
238.2
317.8
229 1
224.6
236.2
313 0
229 2
222 0
233.3
297 8
228 7
223 5
232.6
293 8
228 2
223 8
230.6
284 3
227 5
223 3
221.9
250 7
216 8
222 4
163.8
173 6
153.6
166.9
176 6
156.7
170.2
180 6
159.2
174.7
186.2
162.7
175.4
186 9
163. 2
178.8
193 4
163.2
180.1
195 9
Iftt. 1
180.0
195 9
1fi2 Q
179. 4
196 0
178.9
194 6
ifi9 a
Prices received, all farm productsf§--- 1910-14=100..
Crops
_ __ .
_
do
Food grains
do__
Feed grains and hay
_ .
do
Tobacco
do
Cotton
_- do
Fruit
do
Truck crops
do
Oil-bearing crops
do
Livestock and products
. do
!Meat animals
do
Dairy products
do
Poultry and eggs
do
Prices paid:|
All commodities
1910-14=100
Commodities used in living
do
Commodities used in production _
do
All commodities, interest, taxes, and wage rates
19)0-14=100..
Parity ratiof 9
-- -
do
RETAIL PRICES
WHOLESALE PRICES^
U . S. Department of Labor indexes:!
All commodities
1926=100
Economic classes:
Manufactured products
...do
Raw materials.
do
Semimanufactured articles
do
Farm products
do
Grains
do
Livestock and poultry
do
Commodities other than farm products, do _
Foods
Cereal products
Dairy products _
Fruits and vegetables
Meats, poultry, and
do
do
do
do
do
_
fish
__
Housefurnishing goods
do
148.7
159.2
153.9
156.2
Furnishings.
do
162 8
168.1
Furniture
do
141.0
149.9
144.6
' Revised.
fRevised series. Beginning with the February 1950 SURVEY, data have been revised
for 1910-48 are shown on p. 36 of July 1950 SURVEY.
145. 7
145 2
185.2
117.1
r
1R1 K
(effective back to 1910) to reflect changes prescribed in the Agricultural Acts of 1948 and 1949- revisions
ublished for
old basis is 185.8.
c^For actual wholesale prices of individual commodities, see respective commodities.
"
'" -f«« *«**. »«
- «*" *«^o ^.^~ ^L
{Indexes for the latest 2 months are preliminary and are currently revised to incorporate corrections received in the 2 months following. Any additional corrections received are incorporated
in final annual summaries issued in the middle of the year. Indexes for June-December 1949 were corrected in the August 1950 SURVEY and for June-December 1948 in the August 1949 issue.
Corrected indexes for January-May 1948 and 1949 are available upon request.
SURVEY OF CUKKENT BUSINESS
Unless otherwise stated, statistics through
1948 and descriptive notes are shown in the
1949 Statistical Supplement to the Survey
September 1951
1951
195Q
July
August
September
October
November
December
January
February
March
April
May
June
July
COMMODITY PRICES—Continued
WHOLESALE PRICESd"—Continued
U. S. Department of Labor indexes :J— Continued
Commodities other than farm prod., etc. — Con.
Metals and metal products
1926 = 100_ _
Iron and steel
do
Nonferrous metals
do
Plumbing and heating
do
Textile products
Clothing
Cotton goods
Hosiery and underwear.
Rayon and nylon
Silk
_
Woolen and worsted goods
do _ _
do
do
do
do
do
do
Miscellaneous
Tires and tubes
Paper and pulp
__do
do
__do
172.4
169.8
150.6
156.5
174.4
171.0
156. 3
164.6
176.7
172.2
166.1
166.9
178.6
173.2
173.3
177.2
180.4
174.0
181.7
182.5
184.9
182.1
182.5
183.6
187.5
185.7
187.9
183.7
188.1
185.7
191.1
183.7
188.8
185.6
183. 5
183.7
189.0
185. 9
184.1
183.7
188.8
185.9
182.8
183.7
188.2
185.9
178.2
' 183. 6
188.0
185.9
175.6
183.6
142.6
144.3
190.7
99.2
40.7
60.3
150.9
149.5
145.2
206.8
101.2
41.3
65.6
157.7
158.3
146.7
221.6
105.3
41.7
64.9
178.7
163.1
147.7
225.7
109.2
42.5
65.3
189.1
166.8
151.4
231.7
111.4
42.7
69.0
192.7
171.4
155.4
236.6
113.7
43.0
75.0
195.6
178.2
161.6
239.2
115.2
43.1
86.1
217.4
181.1
163.9
240.5
113.8
43.1
90.8
227.3
183.2
163.9
239.9
113. 5
43.1
90.8
240.2
182.8
163.9
236.2
113.5
43.1
85.2
243.7
' 182, 1
'164.0
234.1
'113.4
43.1
76.3
'244.5
' 178. 2
' 164. 0
' 228. 7
' 112. 9
43.1
73.2
' 228. 7
173.5
164.8
217.8
111.2
43.1
71.1
221.6
119.0
68.7
159.8
124.3
75.0
163.9
127.4
77.4
167.1
131.3
78.1
173.4
137.6
82.3
178.7
140.5
82.5
189.0
142.4
82.8
196.5
142.7
82.8
196.5
142.5
82.8
196.3
142.7
82.8
196.2
141.7
82.8
196.2
141.7
82.8
196.2
138.8
82.9
197.2
49.4
58.1
48.0
48.3
57.7
47.6
47.5
57.3
47.6
47.5
56.9
47.5
46.8
56.7
47.4
45.8
55.9
46.2
44.6
55.1
45.1
43.8
54.4
44.2
43.7
54.2
44.2
43.8
54.2
44.3
44.0
53.9
44.0
44.2
54.0
44.1
44.8
53.9
43.9
PURCHASING POWER OF THE DOLLAR
As measured byWholesale prices
Consumers' prices
Retail food prices
1935-39 =100__
do
do
-
CONSTRUCTION AND REAL ESTATE
CONSTRUCTION ACTIVITYf
New construction, total
mil. of dol
Private, total _
do_ _ _
Residential (nonfarm)
__do
New dwelling units
do
Additions and alterations
do __
Nonresidential building, except farm and public
utility total
mil of dol
Industrial _
do
Commercial
do
Farm construction
do_ _
Public utility
_
do
Public, total
_
Residential
Nonresidential building. .
Military and naval
Highway
Conservation and development
Other types _
do
do
__do
do
do
do
do
2,696
2,817
2,848
2,773
2,569
2,234
2,100
1,973
2,188
2,387
' 2, 556
' 2, 716
2,770
2,016
1,269
1,161
93
2,090
2,095
2,025
1,603
1,673
' 1, 739
' 1, 846
1,247
1,145
1,871
73
923
62
902
830
55
1,518
1,322
1,211
1,721
1,003
1,586
1,322
1,212
1,901
1,131
1,040
324
84
116
125
287
333
91
114
127
297
354
101
121
115
297
382
112
136
95
294
403
120
149
81
279
395
125
140
71
247
378
129
122
72
229
384
135
121
76
226
399
142
128
83
264
407
150
125
95
283
435
162
130
113
'450
'165
'131
'305
'326
680
24
202
10
273
86
85
727
27
213
16
295
87
89
753
28
230
21
298
84
92
748
30
247
28
265
84
94
668
31
228
26
221
76
86
513
30
216
24
103
65
75
514
33
224
29
95
60
73
455
36
210
29
65
49
66
585
42
251
39
110
64
79
714
44
292
59
160
73
86
817
46
312
72
215
80
92
'870
93
94
84
827
750
60
852
775
61
882
795
71
881
785
80
••939
'835
88
126
50
313
'79
250
83
95
937
830
90
452
177
120
134
343
899
52
316
90
260
85
96
CONTRACT AWARDS
Construction contracts awarded in 37 States (F. W.
Dodge Corp.) :
40, 168
46, 856
50, 284
52, 700
42, 057
49, 604
60, 942
70, 449
48, 376
44, 334
44, 755
38, 121
49, 498
Total projects
number
Total valuation
thous. of dol 1, 420, 181 1,548,876 1, 286, 541 1, 135, 815 1,087,062 1, 168. 432 1, 043, 248 1, 140, 527 1, 267, 450 1, 374, 991 2, 572, 961 1, 408, 932 1 379 830
381,
330
364,
298
332,
032
308,
118
320,
426
459,
921
1,
474,
166
305,
941
583, 146
456,
319
418,
457
437,
770
Public ownership
.
_
do
615, 370
960, 260 1,111,106 922, 243 827, 697 766, 636 787, 102 737, 307 808, 495 848, 993 918, 672 1, 098, 795 825, 786 764 460
Private ownership
do
Nonresidential buildings:
Proi'ects
__
Floor area
Valuation
Residential buildings:
Projects
Floor area
Valuation
Public works:
Projects
-Valuation
Utilities:
Projects
Valuation..
5,085
4,830
4,868
4,532
4,222
46, 580
487, 115
51, 741
540, 989
47, 458
498, 725
42, 583
426, 820
41, 472
434, 894
40, 069
490, 375
4,614
43, 971
461, 016
3,198
37, 099
431, 166
43, 301
469, 254
4,259
4,421
44, 804
41, 473
518, 021 1, 633, 908
41, 162
553, 280
4,463
4 496
39, 926
536 533
number
thous. of sq. ft_thous of dol
53, 268
84, 323
675, 080
62, 025
89, 033
754, 106
42, 906
65, 069
549, 585
42, 960
64, 945
529, 867
40, 368
60, 810
496, 682
34, 152
56, 353
478, 583
32, 455
49, 300
420, 918
37, 742
60, 859
531, 146
42, 497
65, 761
574, 569
43, 197
65, 180
590 848
45, 856
73, 596
661 094
37 588
60, 496
545 152
37 173
58, 823
548 144
-
number
thous. of dol. _
2,133
208, 648
200, 431
2,020
1,812
145, 728
1,445
119, 633
1,235
106, 572
1,151
160, 227
128, 536
123, 962
838
1,318
166, 435
1,583
183, 080
2,016
186, 868
2 204
183, 973
2 151
190, 884
number
-thous. of dol..
456
49, 338
53,350
417
472
92, 503
369
59, 495
385
48, 914
333
39, 247
279
32, 778
279
54, 253
339
57, 192
459
83, 042
91,091
407
500
126, 527
514
104, 269
Value of contract awards (F. R. indexes):
Total, unadjusted
__ .1923-25=100
Residential, unadjusted __
do_ __
Total, adjusted
do
Residential, adjusted
do
351
346
323
285
372
325
268
272
280
307
435
'436
'317
'374
'289
283
286
Engineering construction:
Contract awards (E. N. R.)§
5,987
5,094
number
thous. of sq. ft__
thous. of dol_
358
334
332
321
362
332
thous. of dol,. 1, 175, 138 1, 164, 682
959, 530
369
285
299
294
276
272
306
284
253
332
297
773
259
333
312
276
323
311
307
304
292
424
331
373
325
361
283
276
279
950, 526 1,012,046 1, 424, 619 1, 266, 892 1, 271, 065 1, 406, 456 1, 053, 434 1, 267, 995 1, 027, 087 1, 378, 640
Highway concrete pavement contract awards:©
1
4,114
3,605
3,084
5,832
6,589
3, 738
Total
thous. of sq. yd
4 836
5 650
4 920
4 959
5 946
7 562
477
50
299
i 28
224
1,222
190
200
Airports
do
690
966
1 278
2 841
1
1,634
1,314
1,333
2,
065
2,901
2,890
3,199
2
400
2
326
Roads
do
1
957
2
329
1
939
1
2,304
1,920
1,471
3,509
2,252
1, 645
2,708
1,214
Streets and alleys.
_
do
L904
2. 339
2.782
2! 036
' Revised.
* Data include some contracts awarded in prior months but not reported.
cfFor actual wholesale prices of individual commodities, see respective commodities.
JSee note marked "J" on p. S-5.
fRevised series. Data cover items not previously included; annual data beginning 1915 and monthly data beginning 1942 are shown on pp. 22-24 of the August SURVEY.
§Data for August and November 1950 and March and May 1951 are for 5 weeks; other months, 4 weeks.
OData for August and November 1950 and January and May 1951 are for 5 weeks; other months, 4 weeks.
311
9 248
4 335
2 840
2. 073
S-7
SUBVEY OF CUEEENT BUSINESS
September 1951
1951
1950
Unless otherwise stated, statistics through
1948 and descriptive notes are shown in the
1949 Statistical Supplement to the Survey
July
August
Septem-
ber
October
Novem-
ber
Decem-
ber
January
Febru-
ary
March
April
May
June
July
CONSTRUCTION AND REAL ESTATE—Continued
NEW DWELLING UNITS AND URBAN
BUILDING
New permanent nonfarm dwelling units started
(U S Department of Labor)
number
Urban building authorized (U. S. Dept. of Labor):
New urban dwelling units, totalt
number _ Privately financed, total
do
Units in 1-family structures
do
Units in 2- family structures
do
Units in multifamily structures
do
Publicly financed, total
do
Indexes of urban building authorized:
Number of new dwelling units. _. .1935-39= 100.,
Valuation of building, total
do
New residential building
_ do _ _
New nonresidential building
do
Additions, alterations, and repairs
do_ _.
144, 400
141, 900
120, 600
102, 500
87, 300
93, 600
85, 900
80,600
93, 800
96, 200 ' 101,000
130, 000
r
84, 147
79, 473
64, 586
3,118
11, 769
4,674
83, 181
79, 140
61, 740
2,992
14, 408
4,041
62, 500
58, 172
46, 498
2,236
9,438
4,328
56, 873
55, 210
43, 761
2,323
9,126
1,663
49, 129
44, 588
36, 244
2,056
6,288
4,541
59, 551
44, 697
34, 810
1,747
8,140
14, 854
53, 255
49, 579
39, 850
2,813
6,916
3,676
43, 819
39, 717
32, 958
2,111
4,648
4,102
54, 321
50, 668
41, 206
2,816
6,646
3,653
54, 213
50, 360
42, 696
2,843
4,821
3,853
57, 731
54, 302
43, 911
2,472
7,919
3,429
»• 485. 9
' 609. 6
r
951. 3
r 405. 2
' 372. 2
479.7
627.3
967.6
426.9
382.6
359.4
484.6
716.8
343.2
329.8
327.7
497.3
663.7
425.1
311.9
274.1
404.4
558.6
323.4
268.6
322.1
460.2
654.3
374.8
249.7
286.9
433.7
581.2
348.8
322.8
235.2
334.7
507.8
224.6
231.2
295.5
440.2
617.5
340.5
300.5
310.5
444.2
678.3
302.0
287.3
319.8
464 7
692.3
308 8
357.6
221.0
225.0
226.5
330
226.7
227.6
230.4
339
232. 9
234.6
234.7
357
236.0
237.0
502
519
514
465
488
357
508
526
522
473
495
366
513
536
531
478
499
369
515
542
534
479
502
371
514
541
535
475
501
371
517
543
536
477
504
371
523
550
541
484
511
374
524
550
542
485
511
374
525
550
542
485
512
376
527
556
544
488
512
376
218.0
218.6
230.8
219.5
220.7
234.6
220.4
221.4
234.3
220.9
221.9
233.2
222.9
223.9
233.7
224.7
226.4
236.9
228.2
229.9
240.1
229.6
231.6
242.7
230.5
232.6
243.3
220.3
219.0
225.4
236.4
203.8
221.4
220.7
228.4
241.5
205.1
222.3
221.3
228.4
240.7
205.8
222.9
221.5
227.9
238.9
206.2
224.8
223.4
229.3
237.9
208.2
226.3
225.9
232.4
241.3
211.0
230.0
230.0
235. 6
244.5
215.6
231.3
231.9
238.1
247.1
217.7
231.3
230.5
235.1
235.1
234.8
234.5
233.7
233.0
234.2
232.7
237.4
236.1
240.5
239.1
383.1
521.4
392.8
530.4
396.2
534.4
388.9
527.9
390.1
528.7
391.8
530.7
397.0
536.7
r
1
86 000
84, 114
46, 985
37, 860
2,629
6 496
r
37, 129
44, 778
41, 708
33, 362
2,379
5,967
3,070
*r 473. 2
563 8
1,r 021 8
260 7
r
320 5
258.8
400 3
557.1
287 8
339.6
CONSTRUCTION COST INDEXES
Department of Commerce composite*
1939=100__
Aberthaw (industrial building)
1914 — 100
American Appraisal Company:
Average, 30 cities
1913=100
Atlanta
_ _ ___ do_. _
New York
do
San Francisco
...
do._ „
St Louis
do
Associated General Contractors (all types) _ _ .do
E. H. Boeckh and Associates, Inc.:
Average, 20 cities:
Apartments, hotels, and office buildings:
Brick and concrete. _U. S. avg. 1926-29=100._
Brick and steel
do
Brick and wood
do
Commercial and factory buildings:
Brick and concrete
do
Brick a n d steel _ _ _
do__ _
Brick and wood
do
Frame
do
Steel
do
Residences:
Brick
_-do
Frame
do
Engineering News- Record :<f
Building
1913=100
Construction
do
Bu. of Public Roads— Highway construction:
Composite, standard mile
1925 29—100
237.0
373
237.1
528
557
545
490
512
378
531
557
545
490
529
379
535
557
545
495
530
379
230.7
232.8
243.6
232.6
234.3
245.0
'233.2
r
234. 6
244 9
233.4
234 6
244 2
232.1
232.6
238.7
247.7
218.4
232.2
232.7
238.9
248.0
218.5
234.5
234.5
240.4
249.0
219.7
r
235
T
234.
4
0
9
20 5
248
7
r
220 2
235 4
235.1
240 2
247.7
220 5
243.1
241.7
243.7
242.3
243.8
242.5
245.1
243.6
245 1
243 4
244 6
242 5
398. 0
537.9
398.8
538.7
402.7
543 9
400.8
542 7
400 4
542 4
400 1
542 8
155.7
146.2
r
159.7
161 8
CONSTRUCTION MATERIALS
Production of selected construction materials, index:
Unadjusted
1939=100
Adjusted
do
162.3
152.5
192.2
169.8
179.3
166.8
186.2
168.1
173.2
174.8
155.6
176.0
r
r
r
r
v 175 5
P 164 o
156.5
183.3
142.5
172.7
168.6
178.4
224, 671
360, 574
175, 821
324, 755
180,081
293, 236
758
747
752
762
774
816
770
384, 008
351, 142
440, 210
437, 967
475, 383
473 885
439 615
129, 183
153, 984
38, 786
13, 311
48, 744
112, 008
148, 936
34, 473
12,638
43 087
141, 496
190, 539
40, 879
16, 948
50, 348
140, 567
193 359
39, 685
16 285
48 071
153, 678
213, 666
38, 687
18, 870
50, 482
149
219
38
18
48
132
207
37
17
44
169. 5
170 5
180. 8
170 9
REAL ESTATE
Home mortgages insured or guaranteed byFed. Hous. Adm.: New .premium paying
241, 423
235, 742
204, 030
217, 594
216, 154
•thous. of dol__ 183, 559
234, 070
332, 201
268, 611
356, 491
350, 366
Vet. Adm.: Principal amount* . __ _ _ do
258, 401
Federal Home Loan Banks, outstanding advances
506
632
767
816
to member institutions
mil. of dol
730
700
New mortgage loans of all savings and loan associa517, 163
556, 469
393,
857
449,
963
370,
681
tions, estimated total
thous. of dol
467, 585
By purpose of loan:
183, 493
123, 134
140, 655
117, 079
Home construction.—
_.
do_ . 188, 938
145, 422
214, 412
182, 978
248, 089
213, 888
163, 447
219, 001
Home purchase
do
38, 887
32, 002
43, 410
34, 415
36, 579
Refinancing __ _
_
do
34, 827
21, 853
13, 804
13, 693
Repairs and reconditioning. __
do
25, 575
16, 951
20, 220
53, 073
41,
939
55, 902
44,
054
39,
883
All other purposes
do
48 115
New nonfarm mortgages recorded ($20,000 and
under), estimated total
thous of dol 1, 470, 812 1, 624, 913 1 497 824 1, 544, 410 1, 457, 073 1, 320, 895
12.9
14.1
11.9
Nonfarm foreclosures, adjusted index .1935-39 =100..
13.1
12.8
13.7
52, 980
55, 790
Fire losses
thous. of dol__
49, 878
49, 953
66, 820
45, 922
161, 584
298, 950
164, 669
291, 906
146, 237
283 195
225
331
289
107
933
145, 738
275 375
330
123
613
831
718
1,331 083 1 182 753 1,369 284 1,370 848 I 443 538 1 422 262 1 370 201
12.9
11.2
12.1
12.6
11.2
11.3
58, 744
68, 686
71, 507
56, 403
69, 136
62, 965
52, 220
DOMESTIC TRADE
ADVERTISING
Advertising indexes, adjusted:
311
Printers' Ink, combined index
1935-39=100..
318
365
336
377
394
371
388
394
377
393
385
410
355
Magazines
do
316
341
342
342
338
344
347
319
343
338
350
368
Newspapers
do
306
297
322
344
310
302
314
324
296
338
337
303
314
Outdoor
do
288
327
302
360
359
372
356
380
327
323
340
331
319
Radio
_
do
273
269
282
278
287
272
283
281
280
286
286
283
279
294 7
Tide advertising index
do
280.0
317 2
298 8
308 8
309 1
318 8
335 5
324 2
290 1
332 9
328 4
328 9
Radio advertising:
r
Cost of facilities, total
thous. of dol__
12, 293
12, 559
13, 931
16, 170
15, 794
15, 833 r 16,r 708 r 14, 972 «• 16, 434
15, 920
' 16, 597 ' 14, 867 11, 739
r 349
Automotive, incl. accessories.
do
288
297
325
355
339
399
538
378
385
379
303
227
4 649
r 4 1Q2
r 4 826
Drugs and toiletries
do
3,349
3 648
3 969
4 415
4 277
4 829
4 452
4 535
3 124
4 375
144
Electric household equipment.— _
do
136
148
142
136
142
'l47
134
128
139
' 153
133
144
Financial
do
226
239
244
234
228
259
251
248
303
288
276
294
269
r
r
Foods, soft drinks, confectionery
do
3,513
3,371
3,843
4,341
4,319
4, 702
4,240
4, 251
4,683
4, 443
4,607
3,954
3,278
r 570
T 515
Gasoline and oil
do
467
475
469
545
505
563
549
465
479
432
454
r 1 445
Soap, cleansers, etc...
_
do
1,310
1,431
r 1 603
1 664
1 877
1 786
1 831
1 659
1 647
1 785
1 649
1 063
Smoking materials
do
1,577
1 562
1 781
1 540
1 853
1 797
1 844
1 698
1
914
1 958
1 901
1 831
1 375
r 1 874
Allother§
do
1,429
1 387
1 742
2 217
r 2 228
r 2 148
r 2 130
r 2 161
2 237
2 332
r 2 308
l' 827
r
Revised..
Preliminary.
1 Data for August 1951, 85,000.
JMinor revisions in number of dwelling units beginning January 1947 are available upon request.
*New series. Details regarding the Department of Commerce construction cost index and data prior to April 1950 are available in the "Statistical Supplement" to the May 1951 Construction and Building Materials Report. Data on home mortgages, compiled by the Veterans Administration, represent the amount of home loans closed monthly under the Servicemen's
Readjustment Act; figures prior to August 1949 are available upon request.
cfData reported at the beginning of each month are shown here for the previous month.
§Include6 data for apparel and household furnishings, shown separately prior to the October 1950 SURVEY.
SURVEY OF CURRENT BUSINESS
S-8
Unless otherwise stated, statistics through
1948 and descriptive notes are shown in the
1949 Statistical Supplement to the Survey
September 1951
1951
1950
July
August
September
October
November
December
January
February
March
April
May
June
July
DOMESTIC TRADE—Continued
ADVERTISING—Continued
Magazine advertising:}
Cost total
thous. of doL _
Apparel and accessories
do
Automotive, incl. accessories
__do
Building materials §
do
Drugs and toiletries
do__
Foods soft drinks confectionery
do
Beer wine, liquors §
__do__
r 32, 604
'893
33, 577
3,273
3,772
1,128
4,338
5,435
1,476
49, 603
5,540
4,255
2,537
5,416
6,724
1,965
55, 301
4,648
4,545
2,397
6,463
8,598
2,436
51. 534
3,705
4,071
1,491
6, 145
7,488
2,703
40, 673
3,000
2,519
745
5,268
5,825
3,789
30,863
1,632
2,908
1,033
4,359
4,979
1,602
42, 904
3,183
3,213
1,377
5.710
7; 398
2,067
52, 246
5,334
3,613
2,455
6,264
7,781
2,464
55, 993
5,007
3,956
3,063
6,582
7,391
2,752
52, 737
4, 623
3,835
2,933
5, 845
6,628
2,695
47, 445
3,187
3,828
2,505
6,217
6,378
2,541
34, 694
879
3,308
1,483
5,459
5,838
2,354
2,057
••698
' 1, 741
884
«• 1, 348
' 7, 627
1,574
929
1,588
865
1,116
8,083
3,648
2.767
2,657
1,091
1,497
11, 506
4,435
3,650
2,713
1,421
1,556
12, 439
3,870
3,079
2,292
1,324
1,419
13, 949
3,136
1,753
1,691
811
1,429
10, 707
1,106
894
1,668
765
1,137
8,781
2,153
1,502
2,034
1,167
1,241
11, 859
3,525
2,696
2,693
1,289
1,267
12,864
4,072
3,581
3,150
1,762
1,324
13,353
3,949
3,477
2,735
1,525
1,381
13, 111
3,652
2,201
3,320
1,518
1,661
10, 436
1,645
840
2,234
942
1,478
8,236
3,175
3,791
4,505
4,602
3,958
3,106
3,520
4,050
4,464
4,531
3,926
3,260
_ _.do
do
_.do
do
- do
do_ __
--do
173, 092
42, 684
130, 409
9,338
2,683
26, 048
92, 339
186, 524
45, 005
141, 518
8,969
1,832
25, 431
105, 287
207,305
45, 888
161,417
8,793
2,091
32, 705
117, 829
230, 288
47, 678
182, 610
11.314
2,531
41. 222
127, 542
226, 880
42, 944
183, 936
11, 721
2,267
39, 502
130, 447
217, 856
39, 099
178, 757
8, 395
2,347
29, 682
138, 334
173,177
42, 772
130,405
8,165
3,332
24,066
94, 841
176, 831
40, 355
136, 475
7,482
2,205
29, 435
97,353
218,341
49, 358
168, 984
8,710
2,724
33, 886
123, 664
226, 647
52, 165
174, 482
10, 158
2,627
38, 078
123, 619
226, 207
53, 766
172, 441
11, 509
2,455
36, 120
122, 357
202, 047
49, 861
152, 186
10, 814
2,214
30, 166
108, 992
178, 389
48, 762
129, 627
9,807
2,846
23, 690
93, 284
thousands .
thous of dol
4,062
83, 459
4,228
88, 172
4,039
91,350
5,474
100, 802
4,413
102, 139
4,662
97, 712
4,826
107, 031
4,454
99, 820
5,536
124, 277
7,183
128, 681
6,756
122, 605
7,731
121, 273
6,238
116, 606
thousands
thous. of dol. _
12, 279
183, 502
13, 842
210, 887
12,836
206, 145
14, 218
222, 331
14, 739
225, 332
14, 191
209, 795
14, 599
221,714
12, 574
195, 274
15, 874
249,063
17, 472
348, 166
18, 301
236, 721
16, 928
240, 638
0)
0)
Household equipment and supplies § __do
Household furnishings §
do
Industrial materials §
_ do
Soaps cleansers etc
do
Smoking materials
do
All other
do
Linage total
thous of lines
Newspaper advertising:
Linage total (52 cities)
Classified
Display total
Automotive
Financial
General
Retail
-
' 3, 822
' 1, 083
' 4, 841
r 5, 875
' 1, 736
POSTAL BUSINESS
Money orders:
Domestic, issued (50 cities) :
Number
Value
Domestic, paid (50 cities):
Number
Value
-
PERSONAL CONSUMPTION
EXPENDITURES
Seasonally adjusted quarterly totals at annual rates :f
202.5
198.4
208.2
201 7
34.3
14.3
16.0
4.0
29.4
12.9
12.4
4.1
31 5
12.5
14.8
4.3
25 9
10 8
11 1
4 0
- do__
do
do
105.5
19.6
62.6
5.1
2.4
4.4
11.3
104.9
19.2
62.7
5.2
2.0
4.5
11.2
111.5
20 4
67.0
54
2.4
4.7
11.6
109 5
19.5
66.9
5.1
2.0
4 8
11 2
do
__do__
do
do-do
do
do
62.7
9.3
20.1
3.9
3.9
5.2
20.3
64.0
9.8
20.5
3.9
3.9
5.3
20.7
65 2
10.1
20.9
39
39
54
21 0
66.2
10 2
21 3
3 9
39
5.6
21 3
Automobiles and parts
do
Furniture and household equipment- _ -do. _ _
Other durable goods
do
Nondurable goods, total
Clothing and shoes
Food and alcoholic beverages
__do__
do
__do__
Semidurable housefurnishings
Tobacco
Other nondurable goods
_
Services
Household operation
Housing
Personal service
Recreation
Transportation
Other services
_
RETAIL TRADE
All types of retail storesrf
Estimated sales (unadjusted), total 9 .mil. of dol__
Durable-goods stores 9
do
Automotive group 9 _.
__do
Motor-vehicle dealers 9
_ _
-do
Parts and accessories cf
do
Building materials and hardware group d"
mil.
of
dol_ _
Building materials^1
do
Farm implements
do
Hardwarecf
do__ _
Homefurnishings group cf
- do
Furniture and housefurnishingsd*
do _ _
Household appliances and radios d*--- do
Jewelry stores <?
- .. do
12,313
4,755
2,881
2,610
271
12, 737
4,967
2,856
2,632
224
12, 498
4,462
2,492
2,308
184
12, 077
4,243
2,309
2, 131
179
11, 613
3,678
1,998
1,826
172
14, 463
4,243
2,259
2,G14
245
11,866
4,165
2,520
2,314
207
10, 913
3,844
2,361
2,180
182
12,563
4,223
2,560
2,360
200
11, 580
3,973
2,297
2,108
189
12, 395
4,268
2,456
2,262
194
1,117
745
167
205
685
356
329
72
1,248
874
161
214
778
392
386
85
1,125
787
133
205
752
385
367
92
1,129
792
135
203
712
365
347
93
964
668
103
193
614
345
269
102
930
547
121
262
796
438
358
259
926
612
121
193
638
331
307
80
825
537
109
179
589
302
287
69
992
641
144
207
593
334
259
78
1,056
689
156
211
541
321
220
80
1,162
752
174
237
562
348
214
88
«- T12, 333
4, 193
r
2, 414
2,219
r
!95
r
1, 125
••731
170
224
••559
••337
222
95
11, 261
3,762
2,153
1,970
183
1,033
688
146
199
505
301
204
70
8,036
7,558
7,770
7,833
7,935
Nondurable-goods stores 9
do
10, 220
7,701
7,068
8,340
7,607
8,126
' 8, 141
7,499
855
583
641
844
871
Apparel group c?
__do__
1,289
777
616
903
728
806
579
••785
191
134
140
223
Men's clothing and furnishingscf1
do
203
210
363
154
••194
181
159
142
198
403
304
402
Women's apparel and accessories
-do
247
400
553
338
279
418
352
373
247
'337
83
116
89
118
197
127
Family and other apparelcf
do
108
86
126
109
97
79
103
113
114
124
120
145
Shoes
do
176
121
165
98
119
144
111
'146
302
293
Drugstores
-do
298
306
401
297
303
296
328
318
303
322
315
979
913
928
986
991
985
Eating and drinking places 9
do
940
974
1.002
Q8S
847
949
1.004
r
Revised.
tComparable data on magazine advertising cost (Publishers' Information Bureau, Inc.) are available back to January 1948 only. Beginning with the October 1949 SURVEY, five new components are shown (marked with "§"); the total of the two components "household equipment, etc." and "household furnishings" covers all items formerly included in "electric household
equipment" and "housefurnishings, etc." Revised data for January 1948-May 1950 are available upon request. §See note marked "J" above.
t Revised series. Estimates of personal consumption expenditures have been revised beginning 1946; revised figures for the grand total and for total durable and nondurable goods and
services are shown as components of gross national product in table 43 in part V of the National Income Supplement to the SURVEY, July 1951. Revised quarterly data for other items for
1946-47 appear on p. 23 of the December 1950 SURVEY; revisions for those items for 1948-lst quarter 1950 will be shown later. !Not available after June 1951.
Dollar estimates of sales for all types of retail stores and for chain stores and mail-order houses have been revised for various periods back to 1943 and revisions from August 1948 forward
are shown beginning with the October 1949 SURVEY; specific periods for which the series have been revised are as stated in the notes below. Monthly data for 1946-48 for both sales and inventories of all types of retail stores (unadjusted and adjusted series) appear on pp. 21-23 of the October 1949 SURVEY. Data prior to 1946 and unpublished revisions are available upon request
9 Revised beginning 1943.
cf Revised beginning 1948.
SUEVEY OF CURRENT BUSINESS
September 1951
Unless otherwise stated, statistics through
1948 and descriptive notes are shown in the
1949 Statistical Supplement to the Survey
S-9
1951
1950
July
August
September
October
November
December
January
February
March
April
May
June
July
DOMESTIC TRADE—Continued
RETAIL TRADE—Continued
All types of retail storesf— Continued
Estimated sales (unadjusted), total— Continued
Nondurable-goods stores 9 —Continued
Food group 9
mil. of dol
Grocery and combination?
do
Other food 9
do
Filling stations
do
General-merchandise group!
do
Department, including mail-order! do
General, including general merchandise
with food
mil. of dol
Dry goods and other general merchandised"
mil. of dol__
Variety. _
do
Other retail stores©
do _ _
LiquorO
do
Other§
do
2,819
2,289
530
655
1,306
855
2,752
2,205
547
629
1,379
924
2,793
2,244
548
582
1,481
1,008
2,620
2,082
538
586
1,442
979
2 661
2,126
534
575
1,569
1,080
166
160
160
149
124
161
974
134
840
125
169
1,083
137
946
136
177
1,045
145
900
136
178
1,046
149
897
12, 700
4,679
2,763
2,512
251
12, 682
4,694
2,690
2,484
206
12, 133
4,417
2,570
2,389
181
1,084
723
210
739
397
342
93
1,143
778
210
760
384
376
101
8,021
778
190
344
113
131
295
911
Food group..
do
Grocery and combination
do
Other food.
do
Filling stations. __
_
. ._ _ _ do
General-merchandise group
do
Department, including mail-order . do
Other retail stores
do
Estimated inventories (adjusted), total
do
Durable-goods stores
_ _do _
Automotive group
do
Building materials and hardware group
mil. of dol. .
Homefurnishings group
do
Jewelry stores
do
Nondurable-goods stores
do
Apparel group
do
Drug stores
do
Eating and drinking places .
do
Foodgroup..
_ _ do
Filling stations
do
General-merchandise group
do
Other retail stores..
do
Estimated sales (adjusted), total
do
Durable-goods stores.
do
Automotive group
do
Motor- vehicle dealers
do
Parts and accessories
__do
Building materials and hardware group
mil. of dol. _
Building materials ._
_
do
Hardware
do . .
Homefurnishings group _ _
do
Furniture and housefurnishings _ _ _ d o _ _ _
Household appliances and radios _ do
Jewelry stores
do _
Nondurable-goods stores
Apparel group. _
Men's clothing and furnishings
Women's apparel and accessories
Family and other apparel. _
Shoes __
Drugstores
_
Eating and drinking places
do
do
do _ .
do
do
do
do
do
164
170
147
143
178
1, 053
144
909
138
182
1,026
'147
'880
112
164
965
132
833
11,816
3,714
\ 066
1,896
170
2 591
2,095
496
535
1,129
756
2 978
2 414
564
596
1 420
933
2 705
2,169
536
596
1,294
857
2 902
2,324
578
628
1,414
929
157
194
139
129
155
149
147
185
1.049
164
886
228
394
1,414
268
1,146
119
143
1,108
146
962
101
143
1,054
143
912
128
160
1,033
136
897
11, 759
4,179
2,399
2,225
174
11, 387
3,670
2,074
1,910
165
12, 194
4,099
2,389
2,173
216
13, 307
4,772
2,742
2,496
246
13, 075
4,723
2 764
2,520
244
1,015
684
198
727
367
360
104
986
670
192
687
348
339
107
925
624
191
576
318
258
95
988
626
213
625
357
269
97
1, 154
755
244
767
413
355
109
7,987
788
190
355
110
133
302
929
7,716
768
184
352
108
125
304
938
7,580
771
189
356
106
119
308
933
7.717
792
191
366
109
126
309
929
8,094
819
195
384
114
126
308
957
2,754
2,226
528
601
1,605
1,122
1,078
2,728
2,192
536
590
1,523
1,037
1,127
2,640
2,127
514
564
1,445
981
1,056
2,624
2,096
528
553
1,350
895
1,042
2,718
2,177
540
579
1,365
906
1,025
14, 125
5,135
1,574
15, 076
5,484
1,744
15, 793
5,807
1,781
16, 697
6,482
2,093
2,021
1,069
471
8,990
1,835
594
420
1,619
392
2,805
1,325
2,042
1,214
484
9,592
1,989
619
435
1,779
377
2,994
1,399
2,192
1,325
509
9,986
2,038
620
456
1,802
385
3,181
1,504
2,296
1,590
503
10, 215
2,078
596
453
1,789
361
3,340
1,598
r
2, 995
r 2, 416
324
240
427
207
220
12 025
3,996
2 255
2,056
199
12,075
3,968
2,261
2,075
186
'11,925
' 3, 883
' 2, 220
2,046
'174
1,129
741
241
730
38]
349
100
1,084
721
223
627
356
272
102
1,057
716
206
579
335
244
105
1,063
700
211
547
322
224
98
'1,019
'668
206
'549
323
226
96
1,004
669
203
548
336
212
96
8,535
937
238
414
131
154
320
984
8,352
844
219
368
119
138
331
981
8,085
763
175
342
111
135
333
994
8,029
779
183
365
109
122
319
972
8,107
816
192
372
113
139
318
979
' 8, 042
779
'182
'361
106
'130
325
993
8,102
806
202
358
112
134
320
966
2,802
2,282
520
613
1,494
1,011
1,101
2,840
2,278
562
648
1,638
1,123
1,168
2,885
2,322
563
647
1,494
1,006
1,170
2 883
2,323
560
629
1,381
903
1,102
2 871
2,308
563
608
1 410
927
1 070
2,920
2,344
576
599
1,427
932
1,049
r
2, 884
'2,316
'567
601
'1,417
'935
1 043
2,927
2,329
598
581
1,431
956
1,070
16, 787
6,576
2,101
16, 754
6,644
2,165
17, 422
6,812
2,161
17, 817
6,896
2,211
18, 642
7,572
2,543
18 977
7 812
2 654
18 958
7,917
2,782
' 18, 720 v 18, 556
' 7, 868 * 7, 737
'2 833 v 2, 648
2,370
1, 593
512
10, 211
2,093
588
490
1,672
331
3,390
1,647
2,445
1,519
515
10, 110
2,076
572
540
1,620
322
3,409
1,571
2,567
1,552
532
10, 610
2,146
623
(i)
1,785
(i)
3,573
i 2, 483
2,507
1,633
545
10, 921
2,202
650
(i)
1,874
2,667
1 789
573
11 070
2 220
640
(i)
1,883
(i)
3 760
1
2, 567
2,703
1 883
572
11 165
2 333
652
(i)
1 817
(i)
3 812
i 2 551
2,702
1,864
569
11 041
2,311
660
(i)
1,812
(i)
3 734
12 524
' 2, 708 v 2, 793
'1 766 *>1 736
'561
J»560
r jo 852 *10 819
r 2 336
*>2 370
P 668
' 658
(i)
(i)
' 1 743 v 1, 765
(i)
(i)
r 3 587
v 3 576
r i 2 528 v l 2, 440
2 411
219
32
109
61
51
104
66
52
23
606
2 615
259
35
127
77
58
114
68
54
26
661
r 2 654
r 26
r 660
J>2 358
P 190
^25
P 93
p 53
p 60
P 106
* 70
p 54
23
P 561
369
90
135
913
406
93
149
980
408
'87
153
' 1, 018
P 333
P74
p 138
"921
335.2
343 3
306 0
247 0
413.9
230 9
307.9
391.3
231 4
225.6
231.6
326.8
347.9
348 9
330 9
267 7
427.8
271 4
304.0
380.6
229 8
230.8
228.2
333.6
' 343. 3
' 342 6
' 319 4
' 254 4
'423 6
r 253 0
308.0
' 370. 4
234 9
'229 6
' 239. 3
r 322 2
9 322. 4
p 347 4
P 321 7
P 280 0
v 412. 3
P 255 3
v 304. 5
v 372. 1
P 236 6
"228 9
P 245. 0
f> 329 6
410.2
258 8
242.2
437.7
412.6
281 3
247.1
444.3
T
p 403 8
P 286 1
p 244 7
P 446. 2
(')
3,660
*2,535
12
4
2
2
Chain stores and mail-order houses :f
2,522
2,588
3,389
2,496
2,498
2,342
2,194
2,485
2,692
Sales, estimated, total 9 -. -„
do
262
246
186
246
381
198
176
Apparel group
do
196
301
44
41
24
69
40
36
Men's wear
.
do
28
24
41
91
121
182
118
125
Women's wear
do
85
98
90
147
56
75
64
64
99
Shoes
do
58
55
48
89
57
49
47
77
'80
Automotive parts and accessories .. __ -do
49
46
67
53
126
111
136
87
137
Building materials.
do
96
81
142
90
64
66
68
97
66
66
Drug stores
_
do
68
67
73
51
50
52
54
49
52
52
Eating and drinking places
___._do_
47
53
33
29
39
30
27
Furniture and housefurnishings
do
23
23
31
25
692
652
733
671
1,140
554
502
General-merchandise group
do
656
656
Department, dry goods, and general mer427
398
423
642
420
319
397
285
chandise
mil of dol
378
105
84
112
143
158
105
104
Mail-order (catalog sales)
do
87
99
149
136
156
150
326
121
120
142
Variety.
do
167
878
902
840
862
1,037
Grocery and combination
do
898
876
843
1,032
Indexes of sales:!
341.2
336.0
346.1
442.4
325.2
328.8
316.3
Unadjusted, combined index 9 ._ .1935-39= 100. _
315.0
338.0
323.2
331.9
344.7
354.7
323.9
366.9
347.3
356.6
Adjusted, combined index 9
_ _ _do.
342.3
305.4
314.3
301.8
309.5
330.8
354.1
324.6
312 2
315.4
Apparel group cf
do
281.1
257.5
274.8
306.0
269.9
313.9
284.9
286.1
230.9
Men's wearcf
do
431.2
402.2
381.8
407.1
400.5
452.1
414.1
411.3
393.5
Women's weard"
_
__ do
231.7
242.5
241.6
237.8
245.6
281.5
259.3
260.5
254.7
Shoes cf
do
308.6
240.5
322.1
271.0
386.9
339.1
386.6
Automotive parts and accessories d*
do
407.7
336.9
409.4
442.1
403.0
436.0
393.7
398.3
450.7
451.6
396.8
Building materialscf
do
221.2
223.4
219.9
227.8
226.3
244.1
234.0
241.2
224.6
Drug stores
do
214.4
216. 9
210.4
214.6
220.4
218.1
221.9
224.6
221.8
Eating and drinking places cf
_ do
262.3
248.4
293.4
314. 9
215.2
290.5
Furniture and housefurnishings cf
do
270.7
' 241. 5
289.5
321.5
300.1
376.1
369.7
312.7
333.0
347.3
347.3
General-merchandise groupcf
. do
316.6
Department,1 dry goods, and general mer361.8
475.9
477.7
401.8
400.8
381.7
440.7
437.0
chandised 1
1935-39=100
385.8
269.2
253.2
308.2
343.8
342.8
290.7
294.4
273 4
309.7
Mail-orderd
do
223.4
234. 2
227.3
248.9
239.6
236.9
235.5
246.8
Varietyd"
do
238.1
391.2
410.9
402.2
394.8
399.5
424.4
421.8 1
427.6
Grocery and combination
do
432.7
r
l
Revised.
Data for eating and drinking places and filling stations are included with those for other retail stores.
v Preliminary.
tSee note marked "f on p. S-8. Revisions for chain stores and mail-order houses for 1943-July 1948 are shown on p. 23 of the April 1950 SUBVBY.
9 Revised beginning 1943.
§Revised beginning 1947.
cf Revised beginning 1948.
©Revised beginning 1945.
2,876
2,282
594
633
1,146
723
2 705
2,174
531
584
1,283
881
133
199
1,142
154
987
r
579
632
' 1, 379
'890
3 086
2,519
567
615
2,429
1,613
r 2V7
37
r 120
' 79
r 64
r H3
70
53
395 2
r 279 1
r 238 4
' 439. 4
SUEVEY OF CURRENT BUSINESS
S-10
Unless otherwise stated, statistics through
1948 and descriptive notes are shown in the
1949 Statistical Supplement to the Survey
September 1951
1951
1950
August
July
September
October
November
December
January
February
March
April
May
June
July
DOMESTIC TRADE—Continued
RETAIL TRADE—Continued
Department stores:
Accounts receivable, end of month:
Charge accounts
_.
1941 average =100. _
Instalment accounts
do
Katio of collections to accounts receivable:
Charge accounts
percent
Instalment accounts
_ _ -do
Sales by type of payment:
Cash sales
percent of total sales. _
Charge account sales
do
Instalment sales.
_ _ _ _ _ _ do
Sales, unadjusted, total U. S
1935-39=100. _
Atlanta
do
Boston.. _ _ _
___
_ _ _ _ _ _ do
Chicago
do
Cleveland
__do__
Dallas
.do
Kansas City__ _
__
do
Minneapolis
do
NewYork__
do
Pniladelphia
do
Richmond.. __ _
_ do__
St. Louis
do
San Francisco t
do__
Sales, adjusted, total U. S.f_
AtlantaJ _ _
Boston
Chicago}:
ClevelandJ
Dallas!
Kansas CityJ
Minneapolis^
_ _
New Yorkt
Philadelphia!
_
Richmond!
St. Louis
_ _
_
San Francisco!
Stocks, total U. S., end of month:!
Unadjusted
Adjusted
Mail-order and store sales:
Total sales 2 companies
Montgomery Ward & Co
Sears, Roebuck & Co. _
_
Rural sales of general merchandise:
Total U. S., unadjusted..
East
_
South. _ __
Middle West
Far West
Total U. S., adjusted
East
South
_ _
Middle West
Far West
.
_
_
_
do._
o
do
do
do
do
do
do
do
.do
do
_ _ do
do
d
do
do
thous of dol
do
do
1935-39=100..
do
do
_
do
do
do
do
__
do
do
_
do
WHOLESALE TRADE
Service and limited-function wholesalers:!
Sales, estimated (unadj.), total
mil. of dol__
Durable-goods establishments.- __
do_
Nondurable-goods establishments
do
Inventories, estimated (unadj.), total
do.
Durable-goods establishments—
.do
Nondurable-goods establishments..
_.do__
230
184
191
241
210
256
216
260
233
259
314
276
269
269
236
262
227
255
220
244
224
235
218
226
195
215
49
17
50
18
51
18
51
18
51
17
49
18
50
19
46
17
50
19
47
18
49
18
49
19
46
18
47
41
12
46
42
12
46
42
12
47
43
10
48
43
9
50
42
8
45
45
10
46
44
10
48
43
9
48
43
9
48
44
8
50
42
8
50
41
9
283
386
281
373
331
426
308
388
355
453
534
708
277
342
262
352
284
422
284
367
284
353
225
240
324
185
271
284
429
339
276
192
239
••283
326
'386
198
278
290
399
326
287
202
239
288
318
352
263
320
337
454
363
320
267
313
356
363
374
239
296
317
405
328
319
259
299
333
326
345
287
357
313
472
376
338
302
363
387
398
386
436
495
538
711
556
476
450
525
584
540
627
230
261
293
375
300
248
233
253
267
298
333
193
251
266
351
280
239
218
241
266
275
316
217
269
286
397
308
236
230
286
307
298
317
221
276
297
382
302
279
232
269
298
304
320
297
375
r
r
233
293
306
393
••276
287
352
291
314
284
238
286
325
323
330
'263
254
271
305
282
325
169
235
241
339
P256
v223
179
207
254
269
f310
'453
335
415
268
335
334
449
354
321
277
319
360
370
374
320
409
255
305
333
420
345
289
262
310
332
360
368
291
370
216
282
299
375
303
283
238
279
312
305
343
290
391
229
288
251
400
325
291
234
273
312
316
345
325
421
249
318
328
433
354
318
266
307
336
353
376
362
449
303
349
395
475
395
325
291
342
369
363
420
326
419
251
322
333
439
346
324
263
321
341
327
375
291
413
217
290
286
414
321
249
230
283
297
298
335
302
399
233
282
323
402
314
287
252
286
326
320
346
301
387
235
290
309
405
317
278
243
281
331
330
348
••302
402
235
276
306
409
316
••274
267
285
331
313
347
»276
256
288
351
344
*364
258
269
285
284
322
309
362
329
371
332
295
329
303
338
334
349
374
368
386
377
370
365
341
353
*338
P353
356, 756
104, 957
339, 478
112, 568
226, 910
357, 438
113, 430
244, 008
335, 351
113, 037
222, 314
369, 150
123, 084
246, 066
334,868
208,088
296, 659
88, 572
253, 570
77, 573
175, 997
310, 175
95, 107
215, 068
311, 771
95, 175
216, 596
328, 424
100, 408
228, 017
322 649
92, 911
229, 738
273, 067
79, 657
193, 410
334.6
346.8
422.9
517.0
481.3
287.7
269.3
291.5
287.0
265.9
304.2
242.6
304.4
287.6
269.5
304.0
270.9
325.5
300.5
285.3
305.0
276.2
324.7
323.6
329.2
362
494
268
330
364
537
414
342
274
331
'•391
418
251,799
268.0
307.2
286.3
258.6
335.3
363.6
346.3
409.6
346.2
327.2
293.4
367.5
335.0
309.2
364.4
231.3
271.2
316.8
410-9
376.9
6,355
7,349
2,866
4,483
2, 415
3,940
6,991
2,990
4,001
7,271
2,878
4,393
301.0
374.3
310.1
390.3
302.5
290.3
328.9
288.2
319.7
402.0
322.3
388.7
290.0
266.4
314.6
414.7
494. 5
399.9
438.1
326.3
296.9
361.5
499,058
164, 190
552.3
489.8
601.6
365.1
333.1
395.6
7,402
2,662
4,740
6,585
2,453
6,871
7,038
2,478
4,560
8,229
3,393
4,836
7,500
2,911
4,589
8,067
3,230
4,837
321.7
278.1
441.2
7,141
4, 416
295.5
381.2
6,899
2,455
356.3
251.3
399.3
304.3
349.4
2,703
4,438
7,845
3,060
4,785
380.1
230. 9
383.7
274.3
345.8
330.1
341.2
2,581
4,318
270.1
368.3
8,613
3,622
4,991
350.0
314.1
4,132
8,808
3, 750
5,058
279.4
323.5
275.8
312.0
307.8
279.4
340.5
290.3
346.7
271.1
331.2
261.3
293.3
276.6
271. 1
349 2
317.8
318.1
291.0
306 3
371.4
296 0
353.8
309
415
245
286
309
423
*312
216.1
263.3
228.5
307.1
314 1
376.7
277.6
312.2
348.1
354.7
385.9
376.3
6,527
••6,309
4 961
2 368
3 941
9 179
4 405
r 4 774.
6,053
4,049
9,360
4,399
r
r
5, 141
6,287
2,509
3,778
9,283
4,255
r
6,954
2,706
4,248
9,166
4,025
5 030
2 478
305 9
2 178
3 875
9,141
4 352
4 789
EMPLOYMENT AND POPULATION
POPULATION
Population, continental United States:^
Total, incl. armed forces overseas
thousands _.
EMPLOYMENT
Employment status of civilian noninstitutional
population:
Estimated number 14 years of age and over,
total
thousands. _
Male
_ _
do
Female
_ _ do.
Civilian labor force, total
Male _ __ _
Female
do
do
do
Employed
.
do
Male
__
__ _ _ __do
Female
do
Agricultural employment
do
Nonagricultural employment _
do_ _
Unemployed
do
151, 689
151, 939
152, 196
152, 438
152, 668
152, 879
153, 085
153, 302
153, 490
153, 699
153, 900
154, 122
154, 353
109, 491
53, 103
56, 388
109, 587
53, 113
56, 474
109, 577
53, 044
56, 533
109, 407
52, 812
56, 595
109, 293
52, 643
56, 650
109, 193
52, 491
56, 702
109, 170
52 419
56, 751
108, 933
52 140
56, 793
108, 964
52 108
56 856
108, 879
51 980
56 899
108, 832
51 883
56 949
108, 836
51 834
57 002
108, 856
51 798
57 058
64, 427
45, 708
18, 719
64, 867
45, 818
19, 049
63, 567
44, 726
18, 841
63, 704
44, 268
19, 436
63, 512
44, 019
19 493
62, 538
43 535
19 003
61, 514
43 093
18 421
61, 313
42 894
18 419
62, 325
43 379
18 946
61, 789
43 182
18 607
62, 803
43 508
19 294
44 316
63,783
64, 382
44 gQ2
61, 214
43, 582
17, 632
62, 367
44, 154
18, 213
8,160
54, 207
61, 226
43, 244
17, 982
7,811
53, 415
2,341
61, 764
43, 096
18, 668
8,491
53, 273
1,940
61 271
42, 710
18 561
7 551
53, 721
2 240
60
42
18
6
54
2
59
41
17
6
52
2
58 905
41 ' 300
17 605
5 930
52 976
2 407
60
42
18
6
53
2
60 044
42 154
17 890
6 645
53 400
1 744
61 193
42 558
18 635
7 440
53 753
1 609
43' 149
18 654
8 035
53 768
8,440
52, 774
3,213
2,500
308
076
232
234
075
229
010
433
577
018
993
503
179
102
077
393
785
147
'
1 ncn
62 526
43 504
^' QOfi
54 618
1 0 CO
AK. ftKQ
Not in labor force
do
45, 064
44, 718
46, 010
45, 704
45 782
46 657 i
47 658
47 619
46 638
47 092
46 029
44,474
r
Revised.
v Preliminary.
{Revisions in the adjusted indexes of department-store sales for various periods prior to 1949 are shown for the indicated districts (except New York. Richmond, and San Francisco) on
p. 24 of the April 1950 SURVEY; revised data for San Francisco for 1919-48 appear on p. 21 of the May 1950 SURVEY; revisions for New York and Richmond for 1946-January 1949 are available
upon request. Current revisions for Dallas are tentative, pending completion of the revision for earlier periods. Department-store sales and stocks for the U. S. reflect all revisions in data
for the districts and, therefore, are subject to further revision. Figures for wholesale trade have been revised back to 1939; monthly figures for 1946-48 and annual data beginning 1939 are shown
on pp. 18-20 of the October 1949 SURVEY; unpublished revisions are available upon request.
§ Data beginning April 1950 have been adjusted to the decennial census count and are not strictly comparable with preceding figures. Revisions prior to April 1950 will be available later.
SURVEY OF CURRENT BUSINESS
September 1951
Unless otherwise stated, statistics through
1948 and descriptive notes are shown in the
1949 Statistical Supplement to the Survey
S-ll
1950
August
July
September
1951
October
November
December
January
February
March
May
April
June
July
EMPLOYMENT AND POPULATION—Continued
EMPLOYMENT—Continued
Employees in nonagricultural establishments :f
Total, unadjusted (U. S. Dept. of Labor)
thousands..
Manufacturing
do
Durable-goods industries
do__ _
Nondurable-goods industries
do
Mining, total
__
do
Metald"
do
Anthracite
do
Bituminous coalcf
do
Crude-petroleum and natural-gas production
thousands __
Nonmetallic mining and quarrying
do
Contract construction
do _
Transportation and public utilities
-do
Interstate railroads
do
Local railways and bus lines
do__ _
Telephone
do
Telegraph
_
_
do
Gas and electric utilities
_
do
Trade
._ do
Wholesale trade
do
Retail trade
do _.
General-merchandise stores
do
Food and liquor stores
_
do
Automotive and accessories dealers. _do
Finance
_
do
Service
do
Hotels and lodging places
do
Laundries
- - do
Cleaning and dyeing plants
__do
Government
do
Total, adjusted (Federal Reserve)
Manufacturing
Mining
_ _
Contract construction
Transportation and public utilities
Trade
Finance
Service
_
Government
do
do
do
do __
do
do
do
.do
do
Production workers in manufacturing industries :f
Total (TJ S Dept of Labor)
thousands
Durable-goods industries
do
Ordnance and accessories
do
Lumber and wood products (except furniture)
thousandsSawmills and planing mills __ _ . do
Furniture and
fixtures
_ . _ do_
Stone clay, and glass products
do
Glass and glass products
_do
Primary metal industries
do
Blast furnaces, steel works, and rolling
mills
thousands-Primary smelting and refining of nonferrous metals
thousands. _
Fabricated metal prod, (except ordnance, machinery, transportation equipment)
thousands. .
Heating apparatus (except electrical) and
plumbers' supplies
thousands. .
Machinery (except electrical) _
do
Electrical machinery
do
Transportation equipment...
do.. _
Automobiles.
do _.
Aircraft and parts
_ _ _ do
Ship and boat building and repairs.- do__ _
Railroad equipment
do
Instruments and related products
do
Miscellaneous mfg. industries
do
44, 096
14, 777
7,978
6,799
922
103
74
382
45, 080
15, 450
8,294
7,156
950
103
75
408
45, 684
15, 685
8,423
7,262
946
103
75
407
45, 898
15, 827
8,618
7,209
939
102
74
406
45, 873
15, 765
8,664
7,101
938
103
74
404
46, 595
15, 789
8,717
7,072
937
104
73
405
45, 246
15, 784
8,742
7,042
932
105
73
403
45, 390
15, 978
8,877
7,101
930
106
73
402
45, 850
16, 022
8,969
7,053
924
105
72
396
262
101
2,532
4,062
1,414
148
620
47
530
261
103
2,629
4,120
1,441
146
623
47
532
259
103
2,626
4,139
1,458
146
622
48
530
256
102
2,631
4,132
1,462
145
621
48
525
255
102
2,571
4,123
1,465
145
615
48
524
257
98
2,403
4,125
1,460
145
620
49
522
253
98
2,281
4,072
1,428
145
618
48
521
252
97
2,228
4,082
1,429
144
623
48
520
250
100
2,326
4,112
1,451
144
626
48
519
'255
'103
' 2, 471
4,132
' 1, 463
144
'629
'48
'520
'256
106
2,592
' 4, 138
' 1, 465
144
'630
49
521
261
'108
f 2, 683
9,390
2,528
6,862
1,372
1,203
746
1,831
4,841
515
363
152
5,741
9,474
2,582
6,892
1,387
1,200
749
1,837
4,827
512
359
147
5,793
9,641
2,605
7,036
1,474
1,210
743
1,827
4,816
475
358
150
6,004
9,752
2,625
7,127
1,539
1,219
741
1,821
4,757
441
356
151
6,039
9,898
2,618
7,278
1,654
1,242
746
1,820
4,723
433
353
149
6,037
10, 443
2,616
7,827
2,052
1,264
753
1,828
4,694
430
353
147
6,376
9,592
2,587
7,005
1.459
1,244
743
1,831
4,666
429
354
146
6,088
9,554
2,593
6,961
1,431
1,257
735
1,839
4,657
432
351
145
6,122
9,713
2,590
7,123
1,512
1,264
736
1,854
4,682
435
351
150
6,217
' 9, 627
2,579
' 7, 048
' 1, 453
' 1, 264
'739
1,865
r
4, 745
445
'354
153
6,292
' 9, 676
2,567
' 7, 109
' 1, 472
' 1, 269
742
1,875
' 4, 788
451
'360
159
6,377
' 9, 728
' 2, 580
' 7, 148
' 1, 457
' 1, 269
'748
1,893
' 4, 834
479
365
161
' 6, 377
44, 259
14, 977
915
2,366
4,021
9,556
1,804
4,769
5,851
44, 914
15, 333
942
2,434
4,073
9,651
1,819
4,779
5,883
45, 196
15, 444
942
2,454
4,119
9,650
1,836
4,768
5,983
45, 408
15, 606
937
2,506
4,138
9,630
1,839
4,733
6,019
45, 501
15, 635
937
2,521
4,126
9,620
1,838
4,747
6,077
45, 605
15, 692
938
2,452
4,125
9,692
1,846
4,741
6,119
45, 804
15, 852
939
2,507
4,107
9,722
1,840
4,737
6,100
46, 078
16, 009
939
2,503
4,117
9,769
1,848
4,728
6,165
46, 266
16, 058
930
2,556
4,147
9,762
1,854
4,729
6,230
' 46, 111
' 16, 102
'914
' 2, 574
4,153
r 9, 773
1,856
' 4, 745
6,294
12, 151
6,597
19
12, 802
6,900
20
13, 016
7,013
22
13, 133
7,186
22
13, 044
7,210
23
13, 056
7,254
24
13, 018
7,256
25
13, 186
7,371
27
13, 189
7,428
29
' 13, 108 ' 13, 004
' 7, 445 ' 7, 417
30
32
750
444
303
440
114
1,054
783
465
319
459
122
1,086
790
468
327
458
117
1,105
785
462
329
471
127
1,117
773
452
327
477
129
1,126
754
440
326
474
128
1,142
739
429
321
473
128
1,149
736
428
324
473
128
1,153
722
426
326
479
130
1,159
'752
'442
'317
483
132
' 1, 161
'770
'452
'302
484
131
' 1, 161
'778
459
'288
'485
130
' 1, 169
543
550
552
552
554
556
559
560
561
561
'565
571
45
46
46
46
45
47
47
47
47
47
46
48
773
814
837
850
850
852
847
852
858
'859
850
843
120
1, 032
620
1,070
757
188
68
48
178
358
132
1,060
655
1,118
781
199
79
48
187
399
137
1,050
673
1,134
788
209
76
49
199
418
137
1,104
710
1,157
795
225
76
50
205
436
135
1,133
721
1,139
760
239
76
52
209
432
133
1,163
724
1,160
767
252
79
52
211
424
130
1,192
711
1,175
767
264
83
52
211
413
132
1,215
716
1,233
791
288
95
49
215
427
134
1,231
724
1,253
793
299
96
54
218
429
' 45, 998 ' 46, 232 ' 46, 563 P 46, 389
' 15, 955 ' 15, 873 ' 15, 964 * 15, 830
' 9, 003
' 8, 987
r 9, 006
p 8, 858
' 6, 952 ' 6, 886
' 6, 958 P 6, 972
r911
'913
'923
*>896
104
104
105
*>106
68
70
70
'382
379
377
356
133
' 1, 239
'718
' 1, 243
'774
'309
94
'56
221
'422
r 4, 161
1,470
142
637
48
527
P108
P 2, 726
p 4, 166
v 9, 656
v 2, 584
P 7, 072
P 1, 397
v 1, 276
P753
f 1, 907
v 4, 852
P 6, 356
' 46, 513 ' 46, 622 P 46, 562
' 16, 101 ' 16, 105 * 16, 044
'914
'919
*>889
2,566
2,555
P 2, 548
' 4, 141
4,132
P 4, 124
' 9, 814
9,853
P 9, 826
1, 866
1,874
P 1, 879
' 4, 764
4,786
P 4, 780
6,347
6,398
P 6, 472
130
' 1, 246
'709
' 1, 231
'753
317
95
57
222
410
' 13, 058 P 12, 895
' 7, 412
P 7, 246
34
p36
129
' 1, 256
'705
' 1, 232
737
330
98
58
'223
'399
"755
*>282
"475
P 1, 163
*811
P 1, 236
"674
p 1, 218
P217
*379
5,554
5,902
Nondurable-goods industries
do
5,834
6,003
5,802
5,762
5,947
5,815
5,761
' 5, 663
5,587
' 5, 646 p 5, 649
1,331
1,231
Food and kindred products..
do _ _
1,350
1,196
1,155
1,120
1,260
1,099
1,096
' 1, 085 ' 1, 097
' 1, 144
P 1, 218
236
Meat products
do
235
244
251
236
254
238
240
233
229
229
233
114
Dairy products.
__do_ __
116
102
107
100
95
97
95
99
103
109
115
C anning and preserving
do
302
223
324
171
132
226
143
127
125
128
'136
154
192
194
Bakery products
do
194
193
196
190
188
188
190
190
190
192
Beverages
do
164
169
159
149
146
149
145
147
147
'143
146
155
82
Tobacco manufactures. .
do
75
89
84
89
80
83
80
78
76
74
'76
P74
Textile-mill products. __
do _
1,224
1,160
1,255
1,262
1,264
1,258
1,257
1,269
1,223
1,214
1,206
r 1, 199
P 1, 161
Broad-woven fabric mills
do__.
571
595
606
606
604
602
607
604
564
'567
'573
583
Knitting mills
do
209
227
234
234
233
236
232
236
236
230
222
215
Apparel and other finished textile products.
thousands
981
1,089
1,099
1,056
1,064
1,100
1,115
1,070
1,106
' 1, 047
'i,ooi
'1,000
»992
Men's and boys' suits and coats.- ... do
127
138
137
137
138
137
138
141
141
138
135
133
Men's and boys' furnishings and work
clothing
thousands-232
252
254
251
254
253
251
259
263
261
253
248
Women's outerwear
do
266
307
305
275
297
296
303
317
305
'267
'251
256
Paper and allied products
do
396
410
421
418
427
428
423
423
424
427
'424
427
»419
Pulp, paper, and paperboard mills. _ -do
204
207
211
210
212
210
209
209
209
'212
213
216
Printing, publishing, and allied industries
thousands. _
499
504
510
514
515
518
510
510
512
'510
511
'510
*507
Newspapers
_ _ _ d o _.
150
151
150
150
150
149
152
150
150
151
152
153
Commercial printing _
do
164
165
167
170
170
171
170
170
170
168
169
168
'Revised.
P Preliminary.
™ tRevised series. Beginning with the October 1949 SURVEY, the indicated series on employment, payrolls, and hours and earnings have been revised to incorporate three major changes:
(1) adoption of the current Standard Industrial Classification for manufacturing industries; (2; ^classification of reporting establishments on the basis of major postwar product or activity:
(3) adjustment to 1947 bench-mark
levels and a revision in estimating production-worker employment. Published revisions are as follows: Employees in nonagricultural establishments by
ma or r u s
J g ? P —unadjusted series on p- 24 of the N°vember 1949 SURVEY (except for data on trade and service which have been further revised for 1939-46 and are shown on p. 22 of the December 1950 issue); adj. series (total, mfg., trade, and service), p. 23 of the December 1950 issue; other components of the adj. series, p. 22 of the May 1950 SURVEY; production workers in mfg.—
total and durable-goods industries, pp. 17 and 24 of the September 1950 SURVEY; nondurable-goods industries, pp. 23-24 of the October 1950 issue Unpublished revisions will be shown later.
cTBevisions for metal and bituminous-coal mining for August 1948-June 1949 are shown in note at bottom of p. S-ll of the September 1950 SURVEY
SURVEY OF CURRENT BUSINESS
S-12
Unless otherwise stated, statistics through
1948 and descriptive notes are shown in the
1949 Statistical Supplement to the Survey
September 1951
1951
1950
July
August
September
October
November
December
January
February
March
April
May
June
July
EMPLOYMENT AND POPULATION—Continued
EMPLOYMENT—Continued
Production workers in mfg. industriesf— Con.
Total (U. S. Dept. of Labor)— Continued
Nondurable-goods industries— Continued
Chemicals and allied products
thousands. Industrial organic chemicals
__ -do
Products of petroleum and coal
do
Petroleum refining
do
Rubber products
do
Tires and inner tubes
do
Leather and leather products
do
Footwear (except rubber) - do
Manufacturing production-worker employment
index, unadjusted (U. S. Dept. of Labor) t
1939=100..
Manufacturing production-worker employment
index, adjusted (Federal Reserve) t - — 1939=100--
479
152
182
139
200
88
351
230
BGVerageS
Tobacco manufactures
Textile-mill products
Knitting mills
do
—.do
do
do
-.do
dO
.
do
do
do
Apparel and other finished textile products
hours. _
Men's and boys' suits and coats
do
Men's and boys' furnishings and work
clothing
hours
Women's outerwear
do
Paper and allied products
do_ ._
Pulp paper and paperboard mills do
Printing, publishing, and allied industries
hours. _
Newspapers
do
Commercial printing
do
Chemicals and allied products
__ do
Industrial organic chemicals
do
Products of petroleum and coal
__ do
Petroleum refining
do
Rubber products
do
Tires and inner tubes
do
Leather and leather products
do
Footwear (except rubber)...
___do
506
158
189
145
215
92
372
237
523
159
190
147
219
92
367
230
521
160
191
148
222
93
360
226
524
161
191
147
222
92
359
229
526
163
190
147
222
91
364
234
532
163
191
148
222
91
374
239
539
167
192
149
220
88
371
237
••538
168
194
150
219
'87
'353
225
'531
170
194
151
'219
'88
331
'210
'528
172
197
153
'221
90
'343
221
"526
"198
"215
'339
148.3
156.3
158.9
160.3
159.2
159.4
158.9
161.0
161.0
' 160. 0
' 158. 7
' 159. 4
" 157. 4
150.9
155.0
156.0
157.7
157.7
158.1
159.7
161.3
161.4
' 161. 7
' 161. 4
' 161. 1
* 160.1
336, 600
149, 185
130, 714
327, 953
145, 988
126, 664
317, 566
140, 543
123, 493
291, 399
116, 639
122, 681
250, 137
79, 857
118, 487
228,239
62, 181
114, 450
221,485
56, 363
113, 856
1,913
218
1,945
219
1,977
222
2,005
226
2,024
228
2,082
234
2,146
240
v 2, 333
"258
1,302
' 1,316
1,324
1,322
1,313
1,286
1,287
124.5
121.9
125.8
122.8
126.6
122.5
126.3
125.2
125.1
127.1
122.9
127.8
122.8
125.9
233, 036 ' 258, 291 ' 286, 236 " 307, 284
67, 538 ' 92, 164 ' 115, 462 " 122, 449
114, 118 114, 672 118, 484 " 128, 859
2,196
2,240
2,273
2,316
244
247
248
256
1,321
1,309
1,324
1,329
124.9
126.1
' 126. 4
126.9
128.1
128.0
' 126. 9
125.2
394.4
403.2
415.8
414.6
426.0
424.0
430.0
435.0
' 433. 2
41.2
41.8
42.6
41.0
41.7
43.1
41.3
42.1
43.2
41.1
41.8
43.4
41.4
42.2
42.5
41.0
41.5
42.0
40.9
41.6
42.7
41.1
41.9
43.1
42.0
41.9
42.8
41.6
39.8
41.1
41.2
40.1
42.6
41.5
39.0
41.4
41.9
41.8
42.6
42.5
41.4
41.9
41.0
40.7
42.6
42.3
41.3
41.8
41.4
41.0
42.3
42.2
41.0
42.3
40.5
40.0
41.8
41.6
40.6
41.6
40.5
39.9
42.2
41.3
40.3
41.1
40.1
40.2
'41.1
40.8
41.1
40.6
40.0
40.9
41.2
41.5
41.0
41.7
41.5
Miscellaneous employment data:
Federal and State highways, total§
number. . 327, 886
141, 983
Construction (Federal and State)
do
130, 168
Maintenance (State)
do
Federal civilian employees:
1,839
United States
thousands..
215
Washington, D.C., metropolitan area__-do
Railway employees (class I steam railways) :
1,279
Total
thousands-Indexes:
122.3
Unadjusted
1935-39=100.
119.7
Adjusted
do
PAYROLLS
Manufacturing production-worker payroll index,
367.5
unadjusted (U S Dept of Labor) t 1939—100
LABOR CONDITIONS
Average weekly hours per worker (U. S. Dept. of
Labor) :t
40.5
All manufacturing industries
hours. _
41.1
Durable-goods industries.. .
-- -do
42.6
Ordnance and accessories
do
Lumber and wood products (except furni41.1
ture)
hours40.9
Sawmills and planing mills
do
41.0
Furniture and fixtures .do
40.9
Stone, clay, and glass products
do
39.5
40.7
Primary metal industries
do
Blast furnaces, steel works and rolling
39.9
mills
hours
Primary smelting and refining of nonferrous
40.3
metals
hours
Fabricated metal prod, (except ordnance, ma41.1
chinery, transportation equipment) hours. _
Heating apparatus (except electrical) and
41.2
plumber's supplies
hours. _
41.6
Machinery (except electrical)
do
40.6
Electrical machinery
_
do
41.5
Transportation equipment
do
42.1
Automobiles
do
41.2
Aircraft ind parts
do
38.1
Ship and boat building and repairs do
39.1
Railroad equipment
do
4C.9
Instruments and related products __ do_ __
40.3
Miscellaneous mfg. industries
do. __
Nondurable-goods industries _
Food and kindred products
!Meat products
Dairy products
Canning and preserving
491
155
193
147
208
90
370
237
v 1, 329
v 126. 9
"124.2
' 428. 8
435.7
41.0
42.0
'42.7
40.7
41.7
42.9
40.8
'41.8
42.5
"40.4
41.0
"44.0
40.6
40.1
42.3
41.9
41.0
41.8
'41.4
'41.1
'41.1
'42.1
41.3
'42.1
'41.2
'40.9
'40.5
41.7
40.3
'41.7
41.6
41.3
'40.5
'41.7
40.3
'41.8
"39.9
"41.9
41.3
'41.6
'41.1
41.5
41.3
41.3
41.9
41.7
41.6
42.0
41.8
'42.0
"41.2
"41.3
42.4
41.8
41.7
42.1
41.6
43.0
41.8
40.1
39.5
42.4
38.7
40.2
42.4
42.2
42.1
43.7
41.9
41.4
40.9
43.3
39.9
40.9
42.6
41.7
41.4
43.4
41.4
39.9
38.7
43.7
38.7
41.0
41.8
41.3
41.5
43.5
41.3
40.8
39.9
43.3
40.4
40.8
42.2
41.6
41.9
43.8
41.3
41.2
40.3
43.9
40.2
41.1
42.3
41.5
'41.5
'43.9
'41.3
'40.9
'39.7
44.0
39.9
'41.5
'42.5
'41.3
'41.2
43.6
41.5
'40.9
'39.7
43.9
39.9
41.2
42.2
40.7
41.3
'43.5
'41.6
'40.5
39.1
43.7
40.1
40.2
'42.0
'40.8
40.3
41.6
40.8
44.5
40.5
41.4
41.0
38.3
40.6
40.9
39.2
40.3
41.9
43.4
44.1
38.6
41.3
40.9
37.8
40.7
41.1
38.7
40.5
42.3
45.2
44.3
37.4
41.6
40.6
38.9
40.8
41.4
38.1
40.2
41.8
42.8
44.1
38.3
41.3
41.2
38.7
40.6
41.3
37.9
40.0
41.0
39.9
44.1
37.8
41.5
40.3
37.9
40.8
41.2
38.8
40.0
41.0
40.6
44.4
37.5
41.5
40.5
36.8
40.5
41.2
38.1
'39.7
41.2
'41.2
44.3
'38.7
41.6
'40.5
'36.8
'39.9
'40.9
36.7
39.3
41.6
41.5
45.3
38.2
41.9
41.4
36.6
38.8
40.0
35.2
39.4
'41.9
42.1
45.5
38.9
42.0
41.9
'38.0
'38.6
39.5
35.7
"39.5
"42.6
35.7
35.4
37.3
37.9
36.9
37.9
36.5
37.7
36.9
37.6
37.5
38.0
37.4
38.6
36.5
'37.5
'35.4
'36.3
35.4
35.9
35.8
38.0
36.2
44.0
44.6
37.4
32.2
44.0
44.3
38.3
34.7
44.0
44.5
37.7
34.6
44.1
. 44.4
37.0
35.1
44.5
44.9
37.0
36.0
43.8
44.7
37.4
36.7
43.4
44.5
37.9
35.9
43.7
44.7
'37.0
'35.1
'43.7
'44.8
35.4
34.3
43.3
44.7
35.1
33.7
'43.0
44.6
"42.6
38.9
36.5
40.1
41.6
40.7
40.6
39.4
41.8
40.8
39.2
38.8
39.2
36.9
40.6
41.8
40.8
41.7
41.2
41.9
40.9
38.1
37.6
39.0
36.8
39.9
42.0
40.9
41.6
41.1
41.9
40.2
37.8
36.7
39.2
37.2
40.1
42.0
41.2
41.2
40.7
41.5
40.1
37.5
36.0
39.8
38.1
41.0
42.1
41.2
41.2
40.7
41.6
39.9
38.3
37.4
38.9
35.8
40.6
42.0
41.0
41.0
40.7
40.4
38.4
38.7
38.3
38.4
36.0
39.4
41.8
40.8
40.6
40.2
38.9
35.5
39.2
38.8
38.9
36.6
40.3
41.9
41.2
40.6
40.2
40.0
37.6
38.4
37.9
38.9
36.8
40.0
41.8
'41.3
'41.2
'40.9
'40.0
'37.0
'36.5
'35.4
38.7
36.8
39.7
'41.7
41.3
40.9
40.5
41.3
39.2
'35.6
34.2
'38.8
36.9
39.8
'41.6
41.3
'40.7
40.4
'42.4
41.7
' 36. 6
35.5
42.1
42.1
42.3
41.9
42.3
41.0
42.0
42.3
42.4
39.2
39.5
41.7
41.6
42.3
42.4
41.4
40.9
40.6
42.7
38.3
40.4
42.5
42.1
42.4
42.9
42.1
41.0
41.1
41.9
38.3
40.0
42.5
42.3
39.8
42.3
41.8
45.3
41.4
41.7
42.3
38.4
39.0
39.5
37.0
40.5
41.9
40.7
45.0
40.6
41.8
41.3
39.5
40.5
40.8
39.2
40.1
42.0
41.7
44.7
44.1
41.2
41.2
39.2
40.7
41.1
38.9
36.2
36.9
37.6
37.7
36.1
34.7
43.3
44.0
38.5
36.6
39.6
41.2
40.7
41.6
4J.O
41.2
40.4
38.1
37.7
41.9
"41.1
"43.3
"40.2
"39.0
"41.6
"40.1
"37.4
"37.7
"38.8
"41.6
"41.4
"42.2
"37.1
r
Revised.
* Preliminary.
fRevised series. See note marked' T' on p. S-ll. The adjusted manufacturing employment index was further revised in the November 1950 SURVEY; revisions for January 1939-August
1949 are available upon request. Revised data for 1919-50 for the manufacturing production-worker payroll index are shown on p. 28 of the July 1951 SURVEY.
§Total includes State engineering, supervisory, and administrative employees not shown separately.
SURVEY OF CURRENT BUSINESS
September 1951
Unless otherwise stated, statistics through
1948 and descriptive notes are shown in the
1949 Statistical Supplement to the Survey
S-13
1951
1950
July
August
September
October
November
December
January
February
March
April
May
June
July
EMPLOYMENT AND POPULATION—Continued
LABOR CONDITIONS—Continued
Average weekly hours per worker, etc.f — Continued
Nonmanufacturing industries:
Mining:
Metal
hours
Anthracite
__
do __
Bituminous coal..
do
Crude-petroleum and natural-gas production:
Petroleum and natural-gas production
hours .Nonmetallic mining and quarrying
do
Contract construction
- do
Nonbuilding construction __ _ _
__do_ _.
Building construction
_ do
Transportation and public utilities:
Local railways and bus lines
do. __
Telephone
do
Telegraph
_ _
do
Gas and electric utilities
do
Trade:
Wholesale trade
_ - do
Retail trade:
General -merchandise stores
do
Food and liquor stores
do
Automotive and accessories dealers.. _do_ _ _
Service:
Hotels, year-round
...do
Laundries
do
Cleaning and dyeing plants
do . _ _
Industrial disputes (strikes and lock-outs) :
Beginning in month:
Work stoppages _ . _
.numberWorkers involved
thousands. .
In effect during month:
Work stoppages
number
Workers involved
thousands .
Man-days idle during month
do
Percent of available working time . U. S. Employment Service placement activities:
Nonagricultural placements
thousands. _
Unemployment compensation:
Initial claims
do
Continued claims.
do
Benefit payments:
Beneficiaries, weekly average
do
Amount of payments
thous. of dol__
Veterans' unemployment allowances:
Initial claims
thousands
Continued claims _
. _ _ __ .do
Claims filed during last week of month do
Amount of payments
thous of dol
41.1
34.8
34.6
41.9
33.2
35.5
42.2
34.5
35.5
43.9
37.2
36.1
43.0
31.0
36.4
43.9
32.8
38.5
43.7
35.9
37.6
43.7
30.2
34.1
43.3
23.1
33.6
'44.0
'21.6
'33.9
'44.3
30.1
33.4
42.7
30.9
35.0
41.6
44.6
37.9
41.5
36.9
40.3
45.2
38.6
42.7
37.6
40.5
45.1
37.7
41.5
36.7
41.4
45.8
38.5
42.5
37.4
40.6
44.9
38.0
40.9
37.3
40.2
43.5
37.3
40.2
36.7
40.6
43.3
37.1
39.4
36.7
40.5
42.0
35.7
37.7
35.3
40.6
43.6
36.3
38.5
35.8
41.2
45.0
'37.4
'40.3
36.8
40.8
45.8
38.3
'41.6
'37.5
40.6
45.7
38.5
41.4
37.8
45.1
39.4
45.0
41.6
44.8
39.3
45.0
41.5
45.1
39.6
44.6
41.6
45.3
39.4
44.8
41.8
45.6
38.0
44.4
41.8
46.3
39.1
44.8
42.0
45.9
38.9
44.5
41.8
46.0
39.2
44.7
42.0
45.7
38.9
44.6
41.5
'45.9
38.7
44.6
'41.5
'46.3
38.9
45.4
'41.6
46.5
39.4
45.1
41.7
40.9
40.9
40.7
40.9
40.8
41.2
40.8
40.6
40.6
'40.6
'40.8
40.8
37.7
41.5
45.7
37.4
41.5
45.6
36.4
40.4
45.6
36.3
40.0
45.9
36.0
40.0
45.8
38.2
40.3
46.0
36.7
39.9
45.7
36.3
39.5
45.5
35.8
39.3
45.4
35.9
39.6
'45.5
35.5
39.7
'45.5
36.5
40.5
45.6
43.8
41.5
41.4
44.0
40.6
40.0
43.8
41.3
41.6
44.0
41.0
41.0
43.6
40.8
41.2
43.9
41.2
41.1
43.4
41.0
41.4
43.2
40.5
40.1
43.3
40.9
40.2
'43.3
'41.1
'42.4
43.4
41.3
43.1
43.4
41.6
42.6
463
224
635
346
521
270
550
197
329
200
218
61
400
185
350
220
350
140
350
165
400
150
375
190
425
250
732
389
2,750
.39
918
441
2,666
.32
820
450
3,510
.48
801
330
2,590
.32
605
308
2,050
.27
423
114
912
.12
550
215
1.200
.15
550
300
1,700
.25
550
280
2,300
.29
550
235
1,850
.25
580
250
1,750
.22
560
260
1,600
.21
600
320
1,750
.23
486
624
618
612
515
421
486
438
513
552
610
585
586
971
5,115
641
4,424
558
3,293
720
3,141
907
3,520
1,051
3,873
1,080
4,923
770
3,845
719
3,627
983
3,534
908
3,977
1,118
3,704
1, 086
4,042
1,158
99, 714
983
89, 681
806
64, 458
652
57, 533
734
62, 389
832
66, 969
983
91, 560
883
71, 369
807
71, 584
740
62, 294
773
70, 799
821
68, 780
748
65, 917
13
112
25
2,209
9
92
19
1,988
5
55
10
1,126
4
30
6
629
5
24
5
487
5
25
6
464
4
27
6
554
3
19
5
391
2
15
3
315
1
9
2
197
1
6
1
146
1
5
1
97
1
5
1
105
4.7
2.9
.3
.6
1.8
.2
6.6
4.2
.4
.6
2.9
.3
5.7
4.9
.4
.7
3.4
.4
5.2
4.3
.4
.8
2.7
.4
4.0
3.8
.3
1.1
2.1
.3
3.0
3.6
.3
1.3
1.7
.3
5.2
4.1
.3
1.0
2.1
.7
4.5
3.8
.3
.8
2.1
.6
4.6
4.1
.3
.8
2.5
.5
4.5
4.6
.4
1.0
2.7
.5
4.5
4.8
.4
'1.2
2.8
.4
M.9
'4.3
'.4
'1.0
'2.5
.4
p4. 2
"4.8
p. 3
pi. 7
P2.4
p. 4
59.21
63.01
64.92
60.32
64.33
66.12
60.64
65.14
67.41
61.99
66.39
68.64
62.23
66.34
70.53
63.88
68.32
68.34
63.76
67.65
69.55
63.84
68.18
70.92
64.57
69.30
72.71
' 64. 70
' 69. 68
' 70. 97
64.55
69.39
' 72. 29
' 65. 32
' 70. 39
' 71. 83
P 64. 56
P 68. 92
P 76. 03
56.27
55.95
52.03
58.57
60.24
66.95
58.30
57.95
54.87
59.40
59.10
67.36
57.84
57.69
55.42
60.88
61.31
69.10
58.83
58.56
56.27
63.11
65.66
69.81
57.03
56.53
56.87
63.66
67.03
70.14
57.59
56.83
56.77
63.60
65.89
74.36
55.73
54.84
56.93
63.48
66.10
74.42
56.13
55.30
58.15
63.15
65.04
73.12
55.58
55.06
58.67
64.53
66.17
75.11
'
'
'
'
'
'
58. 55
58. 49
56. 96
65. 09
66. 91
75. 70
' 59. 20
' 58. 94
' 56. 34
' 64. 80
' 65. 69
' 74. 93
' 61. 40
61.50
' 56. 05
' 65. 09
65.85
' 76. 62
P 55. 50
P 65. 78
67.83
67.37
69.30
68.87
69.03
75.21
76.41
74.16
77.35
' 77. 92
' 76. 73
80.14
62.83
63.15
64.44
66.40
67.73
69.47
70.67
69.18
69.14
70.18
70.06
70.47
62.55
64.79
65.72
66.66
66.20
68.26
67.80
68.18
69.55
' 69. 51
69.22
' 69. 93
P 68. 64
63.28
66.35
59.44
65.53
67.98
60.15
66.83
68.94
61.48
68.09
71.00
64.12
67.27
72.03
64.33
68.88
74.20
65.15
68.85
74.47
64.42
69.60
75.08
64.80
70.89
76.43
65.34
' 70. 22
' 76. 78
' 65. 58
' 69. 63
76.34
' 66. 52
69.84
' 76. 69
' 67. 39
P 76. 21
P 64. 60
71.71
72.87
Transportation equipment
do
73.02
72.39
74.35
Automobiles
_
do
75.21
73.81
75.21
66.54
68.94
Aircraft and parts _ __ _ _ _ _. _.do
70.18
71.18
Ship and boat building and repairs, .do
64.84
64.20
62.89
62.89
Railroad equipment
do
65.29
68.72
64.40
69.04
58. 98
Instruments and related products
do
61.13
63.58
64.77
52.47
Miscellaneous mfg. industries
_ do
54.87
56.98
64.04
Revised.
P Preliminary.
t Revised series. See note marked "t ' on p. S-l1.
71.78
72.76
71.78
64.47
69.51
65.47
57.01
75.18
76.28
75.08
66.67
72.52
66.75
57.50
72.06
71.48
76.78
64.24
72.41
65.79
57.37
74.05
74. 29
75.86
68.80
71.16
67.06
58.41
75.73
76.13
77.35
68.78
75.13
67.64
58.18
'
'
'
'
'
'
'
' 74. 81
' 74. 52
' 77. 26
68.31
' 76. 55
' 68. 41
' 57. 43
' 75. 25
75.03
77.35
70.09
75.42
' 68. 25
' 57. 77
Labor turn -over in manufacturing establishments:
Accession rate. . .monthly rate per 100 employees. .
Separation rate, total
do
Discharges _ __
do
Lay-offs
do
Quits
.
_ _ . do
Military and miscellaneous
do.
WAGES
Average weekly earnings (U. S. Department of
Labor) :f
All manufacturing industries _
_ . dollars
Durable-goods industries
do
Ordnance and accessories
_ do
Lumber and wood products (except furniture)
dollars..
Sawmills and planing mills
do _
Furniture and fixtures _.
do
Stone, clay, and glass products
do
Glass and glass products
do
Primary metal industries
__do -_
Blast furnaces, steel works, and rolling mills
dollars _ _
Primary smelting and refining of nonferrous
metals
dollars-Fabricated metal prod, (except ordnance, machinery, transportation equipment)
dollars ..
Heating apparatus (except electrical) and
plumbers' supplies
dollarsMachinery (except electrical) _ _ __
do
Electrical machinery
do
r
74. 81
74. 52
77. 13
68. 31
76. 36
68. 55
58. 03
P 60. 81
P 75. 08
P 72. 03
p 67. 14
p 56. 78
SURVEY OF CURRENT BUSINESS
S-14
Unless otherwise stated, statistics through
1948 and descriptive notes are shown in the
1949 Statistical Supplement to the Survey
September 1951
1951
1950
July
August
September
October
November
December
January
February
March
April
May
June
July
EMPLOYMENT AND POPULATION—Continued
WAGES— Continued
Average weekly earnings, etc. f— Continued
All manufacturing industries— Continued
Nondurable-goods industries
dollars _ _
Food and kindred products
do
M^eat products
do
Dairy products
do_ _.
Canning and preserving
do_ _.
Bakery products
do _Beverages
do
Tobacco manufactures
do
Textile-mill products
__do
Broad-woven fabric mills
do~
Knitting mills
do
Apparel and other finished textile products
dollars- .
Men's and boys' suits and coats
do
Men's and boys' furnishings and work
clothing
dollars
"Women's outerwear
do
Paper and allied products
do
Pulp, paper, and paperboard mills do^ ..
Printing, publishing, and allied industries
dollars ._
Newspapers
do
Commercial printing
do
Chemicals and allied products
do
Industrial organic chemicals
do_ _.
Products of petroleum and coal
do
Petroleum refining
.
_ do
Rubber products
do
Tires and inner tubes
_ _ do_ _
Leather and leather products
do
Footwear (except rubber)
do_ _
Nonmanufacturing industries:
Mining:
Metal
do
Anthracite
._ _ _ do. _
Bituminous coal
do
Crude-petroleum and natural-gas production:
Petroleum and natural-gas production
dollars _.
Nonmetalic mining and quarrying
do
Contract construction
do
Nonbuilding construction _
do
Building construction. _ __
do
Transportation and public utilities:
Local railways and bus lines
do
Telephone
do
Telegraph
do
Gas and electric utilities
do
Trade:
Wholesale trade
do
Retail trade:
General-merchandise stores..
.do
Food and liquor stores
do
Automotive and accessories dealers do
Finance:
Banks and trust companies ._
do
Service:
Hotels, year-round
_ _
do
Laundries,.
do
Cleaning and dyeing plants
do
Average hourly earnings (U. S. Department of
Labor) :f
All manufacturing industries
.dollars
Durable-goods industries _
. d o
Ordnance and accessories
do
Lumber and wood products (except furniture) ___ __
_ . _ _ dollars
Sawmills and planing mills .
do
Furniture and
fixtures
do
Stone, clay, and glass products
do
Glass and glass products .
do
Primarv metal industries
do
Blast furnaces, steel works, and rolling mills
dollars
Primary smelting and refining of nonferrous
metals
dollars
Fabricated metal prod, (except ordnance, machinery, transportation equipment)
dollars __
Heating apparatus (except electrical) and
plumbers' supplies _ _ _ .
dollars
Machinery (except electrical)
do. . .
Electrical machinery
do
Transportation equipment
do_
Automobiles
do
Aircraft and parts
__ _
do.
Ship and boat building and repairs __ do. ._
Railroad equipment.
do
Instruments and related products
do
Miscellaneous mfg. industries
do
Nondurable-goods industries
Food and kindred products..
Meat products.
__
Dairy products
Canning and preserving
Bakery products
Beverages. _
'Revised.
f Preliminary.
do
do.-_
do.
do
do_
do...
do
fRevised series
54.73
56.94
59.31
57.21
47.73
53.88
71.11
42.12
47.27
47.52
42.77
55.65
56.19
57.92
56.57
47.91
54.34
68.39
43.37
49.33
49.29
45.67
55.30
56.36
62.59
56.81
47.18
53.85
67.86
42.02
49.98
49.90
45.63
56.58
56.83
61.24
56.74
49.05
54.19
68.14
41. 21
52.58
53.17
47.67
57.19
58.08
65.49
56.62
48.06
54.47
67.81
42.45
53.19
53. 68
47.91
58.44
59.85
69.92
57.68
46.82
55.04
68.78
43.72
53. 57
54.36
47.24
58.53
60.11
65.83
59.09
49.41
54.68
71.61
44.12
53.59
54.39
47.94
58.32
59.04
60.25
59.45
49.84
55.49
71.13
43.17
53.94
54.22
49.24
58.40
59.12
61.92
59.98
48.64
55.32
72.35
42.03
53.34
53.72
48.54
' 58. 16
' 59. 66
' 62. 91
' 59. 67
r 50. 39
' 56. 37
' 71. 97
r 42. 58
' 52. 87
f 53. 95
' 46. 76
' 57. 97
' 60. 44
63.79
' 60. 93
'r 49. 16
56. 98
' 74. 27
' 42. 42
' 51. 49
52.96
r 44. 88
' 58. 47
' 61. 59
67.53
61.52
49.48
57.50
75.42
r 44. 76
'51.11
52.14
45.30
f 58. 78
P 61. 90
43.22
49.22
46.06
51.08
43.09
47.75
45.51
51.77
44.50
52.57
45.88
55.57
47.42
55.23
48.38
56.32
47.27
57.13
r 44. 97
' 54. 90
' 43. 65
' 53. 00
' 44. 14
52.77
p 45. 75
35.34
49.62
61.36
65.74
37.43
54.01
62.74
66.99
37.18
46.43
63.10
66.89
38.38
50.94
63.27
67.20
38.53
48.37
64.92
69.00
38.59
51. 84
66.44
70.63
39.11
55.01
65.96
70.89
39.68
56.08
65.36
70.49
40.17
52.49
66.16
70.80
r 38. 96
r 48. 37
' 66. 38
-71.37
37.24
' 47. 37
65.90
71.21
37.07
47.38
' 65. 58
71.32
72.30
79.20
71.95
62.99
66.02
76.09
78.93
65.59
75.22
44.73
42.53
73.17
78.84
72.38
63.48
65.85
73.73
75.29
66.25
76.01
46.49
44.39
74.48
81.11
73.61
64.16
67.52
76.77
79.72
66.58
75.46
45.72
43.32
74.22
81.07
73.78
64.55
67.98
77.71
80.93
66.29
73.12
46.04
42.76
74.52
82.29
73. 42
65.52
69.34
78.32
81.64
66.52
73.70
45.94
42.23
76.42
85.42
75.60
66.43
69.75
78.32
81.03
68.76
76.21
47.26
44.02
74.22
79.12
74.58
66.99
70.11
78.58
82.95
66.78
73.69
48. 30
45.88
74.23
79.96
73.24
67.17
70.26
78.44
81.28
63.37
66.95
49.43
46.99
75.74
82.13
75.52
67.54
71.15
78.93
81.89
65.88
71.40
48.73
46.43
75.78
82.98
74.76
r 67. 84
«• 71. 82
«• 81. 33
r 84. 87
' 65. 96
' 70. 15
' 46. 65
r 43. 65
' 75. 74
83.79
* 74. 52
r 76. 01
63.17
68.59
69.68
64.48
65.77
71.04
66.38
68.45
71.92
69.84
75.59
72.99
69.92
60.85
73.27
73. 53
65.14
77.77
74.33
71.33
76.63
73.46
66.65
75.67
72.83
50.68
74.66
r 74. 62
r 75. 13
r 47. 10
'75.63
66.67
' 73. 95
75.59
60.92
74.06
73.70
74.02
71.01
61.74
75.96
76.48
75.99
73.47
62.51
75.89
75.86
75.86
77.67
64.03
77.92
77.65
77.87
76.21
63.31
77.52
75.42
78.07
75.58
62.12
77.36
75. 58
77.80
76.90
61.96
77.61
74.70
78.35
77.15
60.77
75.47
72.20
76.14
76.63
63.74
76.99
74.19
77.44
' 80. 30
67.47
54.96
64.13
66.52
66.84
54.71
63.99
65.65
67.42
55.80
64.49
67.35
67.77
56.18
64.74
67.93
68.26
54.04
64.25
68.68
69.96
56.30
65.05
71.31
70.23
56.41
64.57
71.18
70.66
57.58
64.86
71.36
70.42
56.52
64.63
70.14
61.10
60.90
60.93
61.68
61.98
63.49
63.44
63.62
37.32
53.37
63.71
37.06
53.04
63.66
36.11
52.12
63.52
36.01
51.80
63.94
35.24
52.40
63.07
37.02
52.91
63.53
38.02
53.15
64.48
37.43
52.69
65.16
r 68. 14
71.99
r 81. 43
r
84. 93
' 68. 48
' 75. 54
' 45. 64
' 42. 10
' 79. 03
' 67. 42
' 81. 46
72.38
68.58
77.95
r 80. 50
r 81. 71
' 70. 92
56.12
64.40
' 70. 38
r 71. 81
56.44
65.92
' 70. 97
72.31
58.08
65.44
71.43
63.62
r 63. 95
f 64. 18
64.63
36.44
52.62
65.29
' 35. 98
r 66. 34
36.71
«- 53. 63
' 66. 75
38.07
54.84
66.85
88
36
26
75
r 53. 18
* 65. 09
9 76. 16
83.54
75.02
' 68. 60 r> 69. 06
72.32
'81.32
v 83. 84
84.96
' 71. 66 P 72. 50
82.69
' 46. 81 p 47. 19
43.74
78.93
67.91
82.47
81.31
82.88
r 65.
r 79.
r 78.
r 79.
* 44. 47
* 49. 69
46.34
46.36
46.75
47.78
48.18
48.66
49.28
49.55
49.70
r 50. 08
49.97
49.86
33.51
35.61
42.02
33.92
34.83
40.16
34.30
35.93
42.56
34.67
35.79
42.15
34.74
35.86
42.23
35.16
36.38
42.29
34.89
36.70
43.35
35.04
36.25
41.78
34.68
36.85
44.14
r 34. 90
r 37. 32
' 44. 90
34.98
37.83
45.86
34.86
38.27
45.54
1.462
1.533
1.524
1.464
1.539
1.552
1.479
1.562
1.564
1.501
1.577
1.589
1.514
1.587
1.625
1.543
1.619
1.608
1.555
1.630
1.656
1.561
1.639
1.661
1.571
1.654
1.687
r 1. 578
r 1. 659
1.586
1.664
* 1. 685
' 1. 601
' 1. 684
«• 1. 690
f 1. 598
P 1. 681
f 1. 728
1.369
1.368
1.269
1. 432
1.525
1.645
1.388
1.383
1.282
1.428
1.485
1.639
1.404
1.407
1.301
1.467
1. 572
1.669
1.404
1.401
1.321
1.485
1.586
1.666
1.391
1.389
1.335
1.505
1.623
1.678
1.391
1.386
1.342
1.507
1.607
1.758
1.376
1.371
1.362
1.526
1.628
1.789
1.386
1.386
1.378
1.529
1.614
1.779
1.369
1.373
1.387
1.540
1.614
1.797
r 1. 424
r 1.423
r 1. 386
1.437
1.441
1.391
1.554
1.630
1.797
r 1. 476
p 1. 476
1.700
1.680
1.724
1.688
1.692
1.830
1.882
1.854
1.873
' 1. 873
' 1. 867
1.931
1.559
1.544
1.564
1.600
1.652
1.666
1.703
1.675
1.674
1.675
1.680
1.694
1.522
1.539
1.561
1.576
1.580
1.610
1.622
1.635
1.652
' 1. 655
1.656
1.665
1.536
1.595
1.464
1.564
1.607
1.467
1.580
1.626
1.485
1.606
1.655
1.523
1.617
1.675
1.539
1.636
1.698
1.555
1.663
1.716
1.556
1.677
1.726
1.569
1.692
1.745
1.582
1.692
1.749
1.588
r 1. 690
1.691
1.751
r 1. 763
r 1. 603
' 1. 620
1.728
1.766
1.615
1.685
1.647
1. 442
1.302
1.735
1.778
1.626
1.654
1.653
1.466
1.319
1.770
1.818
1.667
1. 642
1.701
1.496
1.331
1.781
1.830
1.675
1.642
1.726
1.524
1.347
1.790
1.842
1.693
1.666
1.729
1.544
1.351
1.816
1.865
1.734
1.671
1.773
1.567
1.379
1.806
1.847
1.757
1.660
1.766
1.574
1.389
1.815
1.862
1.752
1.703
1.744
1.589
1.404
1. 838
1.889
1.762
1.711
1.829
1.599
1.402
1.829
1.877
1.755
1.712
1.864
1.613
1.405
' 1. 829
' 1. 877
P L 847
' 1. 621
' 1. 411
' 1. 858
1.919
1.770
1.748
1.876
1.625
' 1. 416
1.404
1.366
1.501
1.275
1.211
1.309
1.662
1.419
1.386
1.509
1.284
1.245
1.319
1.658
1.443
1.415
1.547
1.302
1.252
1.323
1.694
1.456
1.438
1.538
1.340
1.290
1.324
1.738
1.458
1.440
1.510
1.348
1.292
1.337
1.765
1.460
1.442
1.525
1.351
1.297
1.333
1.769
1.465
1.448
1.527
1.347
1.302
1.355
1.777
' 1. 475
' 1. 453
1.537
'1.345
'1.287
' 1. 360
' 1. 794
' 1. 484
' 1. 470
1.604
1.352
1.272
1.369
1.800
P 1. 488
p 1. 453
1.375
1.374
1.379
1.341
1.342
1.346
1.419
1.423
1. 501
1.263
1.257
1.271
1.148
1.153
1.180
1.292
1.300
1.307
1.681
1.656
1.647
See note marked " •" on p. S-11.
1.662
1.546
' 1. 630
r 1. 758
' 1. 760
1.712
r 1. 858
1.489
' 1. 384
' 1. 561
1.634
r
1. 833
P 1.391
p 1. 570
p 1. 818
v 1. 670
p 1. 760
p 1. 607
p 1.614
p 1. 416
SURVEY OF CURRENT BUSINESS
September 1951
Unless otherwise stated, statistics through
1948 and descriptive notes are shown in the
1949 Statistical Supplement to the Survey
S-15
1950
July
August
Septem-
1951
October
November
December
January
February
March
April
May
June
July
r
r
v 1. 189
*> 1 318
EMPLOYMENT AND POPULATION—Continued
WAGES—Continued
Average hourly earnings, etc. f— Continued
All manufacturing industries— Continued
Nondurable-goods industries— Continued
Tobacco manufactures
dollars. _
Textile-mill products
do
Broad- woven fabric mills
do
Knitting mills
do
Apparel and other finished textile products
dollars. _
Men's and boys' suits and coats
do
Men's and boys' furnishings and work
clothing
dollars
Women's outerwear
do
Paper and allied products
do
Pulp paper and paperboard mills do
Printing, publishing, and allied industries
dollars. .
Newspapers
do
Commercial printing
__ _ do
Chemicals and allied products
..do
Industrial organic chemicals
do
Products of petroleum and coal
do
Petroleum refining
do
Rubber products
do
Tires and inner tubes
do
Leather and leather products
do
Footwear (except rubber)
do
Nonmanufacturing industries:
Mining:
Metal
--do
Anthracite
do
Bituminous coal
do
Crude-petroleum and natural-gas production:
Petroleum and natural-gas production
dollars..
Nonmetallic mining and quarrying.
do
Contract construction
do _
Nonbuilding construction
do
Building construction
do
Transportation and public utilities:
Local railways and bus lines _
do ___
Telephone
do
Telegraph
do _
Gas and electric utilities
do
Trade:
Wholesale trade
do
Retail trade:
General-merchandise stores
-do
Food and liquor stores
do
Automotive and accessories dealers. . -do
Service:
Hotels year-round
do
Laundries
-do
Cleaning and dyeing plants
do
Miscellaneous wage data:
Construction wage rates (E. N. R.):§
Common labor
dol. per hr —
Skilled labor
do
Farm wage rates, without board or room (quarterly) *
dol . per hr
Railway wages (average, class I)_
do
Road-building wages, common labor
. do__
1.097
1.212
1.203
1.156
1.098
1.218
1.208
1.165
1.072
1.228
1.214
1.173
1.076
1.295
1.300
1.216
1.123
1.307
1.306
1.238
1.124
1.313
1.313
1.240
1.140
1.320
1.317
1.265
1.194
1.334
1.225
1.355
1.207
1.349
1.220
1.366
1.206
1.387
1.257
1.474
.979
1.430
1.417
1.494
.985
1.492
1.426
1.502
.994
1.442
1.434
1.510
1.002
1.468
1.438
1.510
1.022
1.398
1.472
1.554
1.878
2.164
1.817
1.529
1.622
1.881
2.160
1.805
1.526
1.618
1.900
2.198
1.813
1.535
1.655
1.903
2.203
1.849
1.537
1.662
1.829
1.925
1.592
1.862
1.174
1.128
1.816
1.911
1.585
1.863
1.186
1.144
1.841
1.935
1.589
1.845
1.200
1.152
1.537
1.971
2.014
1.539
1.981
2.001
1.817
1.366
1.954
1.776
2.006
1.139
1.322
1.316
1.269
1.142
1.317
1.304
1.274
1.157
1.325
1.319
1.274
1.285
1.469
1.290
1.482
1.264
1.480
1.232
1.464
1.043
1.477
1.493
1.573
1.057
1.528
1.506
1.586
1.061
1.528
1.506
1.584
1.060
1.462
1.514
1.584
1.901
2.212
1.831
1.560
1.683
1.920
2.242
1.844
1.578
1.693
1.908
2.210
1.837
1.595
1.710
1.933
2.221
1.859
1.607
1.722
1.868
1.969
1.582
1.819
1.218
1.165
1.901
2.006
1.603
1.838
1.225
1.173
1.901
1.991
1.653
1.910
1.234
1.177
1.941
2.038
1.653
1.919
1.248
1.198
1.573
1.984
2.026
1.591
2.032
2.022
1.626
1.963
2.013
1.675
1.986
2.020
1.762
1.366
1.968
1.791
2.021
1.814
1.385
2.013
1.828
2.067
1.876
1.398
2.024
1.827
2.082
1.877
1.410
2.040
1.844
2.093
1. 496
1.395
1.425
1.599
1.492
1.392
1.422
1.603
1.495
1.409
1.446
1.619
1.496
1.426
1.445
1.625
1.494
1.489
1.497
.990
1.286
1.354
.991
1.278
1.396
.992
1.290
1.393
.765
.858
1.015
.771
.858
1.004
1.538
2.524
.73
1.579
1.20
1.159
1. 327
1.324
1. 275
r
r
r
1. 178
1 324
1.320
1 269
1. 233
' 1. 460
r 1. 247
1.053
' 1. 378
1.519
* 1. 593
1.052
' 1. 381
1.522
1.593
1.056
1.406
«• 1. 525
1.599
1.947
2.244
1.874
1.612
1.727
1.948
2.255
1.869
' 1. 623
»• 1. 739
' 1. 957
2.277
r
1. 877
1.634
1.743
r 1. 959
1.932
2.032
1.629
1.886
1.261
1.211
1.944
2.037
1.647
1.899
1.269
1.225
'
1. 974
r
2. 075
»• 1. 649
r 1. 896
«• 1. 278
«• 1.233
'
1. 991
r
2. 097
' 1. 658
r
1. 927
' 1. 282
r
1.231
«• 1. 998
2. 103
' 1. 690
1 983
*• 1. 279
1 232
1.701
1.987
2.038
1.681
2.207
2.219
1.682
2.194
2.222
' 1. 696
' 2. 185
'2. 231
' 1. 696
2.215
r
2. 214
1.695
2 229
2 227
1.880
1.428
2.074
1.880
2.120
1.894
1.431
2.092
1.896
2.135
1.905
1.447
2.114
1.915
2.157
1.889
1.462
2.121
1.927
2.163
' 1. 937
«• 1. 472
2. 127
1. 935
' 2. 175
1.944
1 486
2. 142
1 964
2 191
1.497
1.422
1.447
1.643
1.511
1.440
1.452
1.670
1.530
1.450
1.451
1.690
1.536
1.469
1.451
1.699
1.541
1.453
1.449
1.690
' 1. 545 ' 1. 551
1.451
1.450
'r 1. 444
1.452
1. 696
' 1. 706
1.555
1 474
1.451
1 713
1.508
1.519
1.541
1.555
1.567
1.567
1.575
1.573
1 584
.992
1.295
1.393
.979
1.310
1.377
.969
1. 313
1.381
1.036
1.332
1.411
1.031
1.334
1.432
1.018
1.339
1.438
«• 1. 030
' 1. 343
»• 1. 458
1.034
•• 1.351
' 1. 467
1 043
1.354
1 466
.783
.870
1.023
.788
.873
1.028
.795
.879
1.025
.801
.883
1.029
.804
.895
1.047
.811
.895
1.042
r
.801
.901
1.051
806
.908
1.059
.806
.916
1.064
805
920
1 069
1.561
2.544
1.561
2.554
1.568
2.565
1.574
2.571
1.574
2.577
1.585
2.604
1.593
2 615
1.595
2.619
1.595
2 619
1.608
2 629
1.615
2 648
1.552
1.586
.66
1.566
1.23
1.587
1.603
.79
1.585
1.30
1.659
1.681
78
1.716
1 23
1 725
1.751
453
356
470
369
479
381
456
387
417
364
r 425
331
380
336
361
592
1 986
998
958
40
339
650
323
700
310
739
2 097
1 012
974
37
315
771
333
791
101, 437
39, 067
62, 370
129 112
53 171
75, 941
114 898
45 477
69, 421
r H6 572
45 375
' 71, 197
120 698
48' 588
72, 110
110 756
43 224
67,532
47 368
23, 188
398
21,881
20 852
47 368
20 704
19 066
700
23 no
47.6
47 978
24, 150
275
22, 910
20 567
47 978
21 450
19* 014
647
23 041
46.2
46 883
23, 560
283
22, 742
20 567
46 883
20 748
18 901
452
23 143
46.9
4.7 174.
4.7 fi^4.
23, 481
529
22, 509
20 508
47 174
20 381
18 536
330
23 332
46.9
24, 043
53
22, 982
20 514
4.7 ^47
24, 033
277
23,078
20 504
r
1. 949
r 1. 464
'r 2. 122
1. 942
' 2. 167
r
r
1.470
2 264
1.185
1.649
1.751
* 1. 278
* 1. 528
9 1.963
" 1. 660
v 2. 025
v 1. 718
» 1. 272
1.629
2 688
82
1 24
FINANCE
BANKING
Acceptances and commercial paper outstanding:
Bankers' acceptances
mil. of dol
Commercial paper _
_ do__ _
Agricultural loans outstanding of agencies supervised by the Farm Credit Administration:
Total
mil. of dol
Farm mortgage loans, total
do
Federal land banks
do
Land Bank Commissioner
_
do
Loans to cooperatives
do
Short-term credit
do.. .
335
259
246
606
374
286
397
308
251
606
1,838
988
941
47
269
582
do.
do
do..._
98, 509
38, 757
59, 752
115, 490
50, 067
65, 423
Federal Reserve banks, condition, end of month:
Assets total
mil. of dol
Reserve bank credit outstanding, total. _ .do
Discounts and advances
__ do
United States Government securities. __ do
Gold certificate reserves
do
Liabilities total
do
Deposits, total
do
Member-bank reserve balances
do. __
Excess reserves (estimated)
do
Federal Reserve notes in circulation—, do
Reserve ratio
percent..
43 804
18, 466
219
17, 969
22, 886
43, 804
18, 139
16, 129
595
22, 841
55.8
44, 049
18, 820
82
18, 356
22, 389
44, 049
17, 912
15, 989
219
22, 947
54.8
Bank debits, total (141 centers)
New York City
.
Outside New York City
_
T
383
312
305
546
383
325
394
333
331
519
1,861
989
946
43
350
522
356
551
110, 107
44, 910
' 65, 197
111, 974
43, 837
68,137
110, 132
43, 740
66, 392
125, 435
52, 590
72, 845
123, 224
48, 207
75, 017
45 604
20, 340
72
19, 572
22, 235
45, 604
19, 197
16, 709
888
22, 997
52.7
44 826
19, 798
116
19, 252
22, 045
44, 826
18, 398
16, 514
589
23, 075
53.2
45 448
20, 638
161
19, 693
21, 798
45 448
18, 682
16, 763
645
23,397
51.8
47 172
22, 216
67
20, 778
21, 458
47 172
19 810
17 681
1,172
23 587
49.4
47 738
23, 051
798
21, 484
21 160
47 738
20 998
18 984
'937
23 026
48.1
r
T
' Revised, t Preliminary.
fRevised series. See note marked "t" on p. S-ll.
§Rates as of August 1, 1951: Common labor, $1.637; skilled labor, $2.701.
*New series. Comparable data prior to January 1948 are not available.
4.7 fi^4.
4.7 ^4.7
20 598
19 020
••'416
90 fiflfi
18 863
90 «on
*473
90 79ft
46.4
46.3
SURVEY OF CURRENT BUSINESS
S-16
Unless otherwise stated, statistics through
1948 and descriptive notes are shown in the
1949 Statistical Supplement to the Survey
September 1951
1951
1950
July
August
September
October
November
December
January
February
March
April
May
June
July
FINANCE—Continued
BANKING —Continued
Federal Reserve weekly reporting member banks,
condition, Wednesday nearest end of month:
Deposits:
Demand, adjusted
mil. ofdol.
Demand, except interbank:
Individuals, partnerships, and corporations
mil. ofdol__
States and political subdivisions
do
United States Government
do
Time, except interbank, total
_ do__ _
Individuals, partnerships, and corporations
mil. of dol__
States and political subdivisions
do
Interbank (demand and time)
do
Investments, total
do
U. S. Government obligations, direct and
guaranteed, total
mil. ofdol
Bills
_
do
Certificates
do
Bonds and guaranteed obligations
do
Notes
do
Other securities
_do
lx>ans, total
do
Commercial, industrial, and agriculturaLdo
To brokers and dealers in securities
do
Other loans for purchasing or carrying securities
mil. of dol__
Real-estate loans
do
Loans of banks
do
Other loans _ __
_
do
Mo^ey and interest rates:c?
Bank rates on business loans:f
48, 264
48, 995
49, 238
49, 471
50, 546
51, 642
51, 220
50,649
49, 487
50, 163
50, 034
49, 916
50, 383
48, 555
3,443
1,946
15, 387
49, 368
3,321
2,390
15, 331
50, 198
3,245
2,338
15, 329
50, 445
3,362
1,805
15, 292
51, 305
3,371
1,624
15, 242
53, 518
3,393
1,572
15, 346
51, 760
3,657
1,622
15, 250
51,813
3,640
2,588
15, 324
50, 104
3,489
4,622
15, 379
50, 257
3,950
3,520
15, 338
50, 591
3, 857
3,005
15, 362
50, 500
3,589
4,679
15, 539
50, 860
3, 644
2,673
15, 551
14, 613
638
10, 345
41,466
14, 535
663
10, 125
41,317
14, 537
662
10, 285
40, 265
14, 513
653
11, 032
39, 850
14, 475
642
10, 854
39, 337
14, 578
642
12, 956
39, 795
14, 533
689
10, 818
38, 039
14, 495
703
10, 783
37, 312
14, 555
697
10, 384
37, 491
14, 477
732
10, 669
37, 447
14, 485
746
10, 157
36, 941
14, 661
743
10, 422
37, 758
14, 673
740
11, 103
37, 613
35, 496
1,831
2, 134
24, 513
7,018
5,970
26, 381
14, 022
1,934
35, 082
2,297
1,359
23, 539
7,887
6,235
27, 253
14, 739
1,427
33, 845
2,391
1,156
22, 426
7,872
6,420
28, 502
15, 725
1,487
33, 535
2,481
1,048
22, 246
7,760
6,315
29, 387
16, 476
1,355
32, 984
2, 044
1,124
22, 114
7,702
6,353
30, 586
17, 084
1,671
33,294
2,470
31, 557
1,651
30, 791
1,577
30, 886
1,933
30, 836
1,971
30, 443
1,769
21, 573
9,251
6,501
31,417
17, 859
1,578
21, 205
8,701
6,482
31, 541
18, 120
1,554
20, 830
8,384
6,521
32, 189
18, 733
1,498
20, 744
8,209
6,605
32, 707
19, 202
1,512
20, 715
8,150
6,611
32, 661
19, 186
1,359
20, 527
8,147
6,498
32, 428
19, 048
1,332
31, 176
2,745
1,585
19, 478
7,368
6,582
32, 877
19, 220
1,399
30, 997
2,648
2,224
19, 442
6,683
6,616
32, 487
19, 124
1,390
676
4,815
214
5,111
743
4,938
358
5,439
718
5,035
339
5,590
728
5,126
312
5,786
792
5,213
377
5,845
750
5,280
510
5,877
754
5,299
317
5,946
748
5,331
412
5,910
718
5,369
425
5,930
727
5,419
491
5,935
717
5,476
382
5,928
716
5,530
523
5,947
700
5,545
324
5,865
1.50
4.08
2.00
1.75
4.08
2.00
2.32
2.63
3.13
1.75
4.08
2.00
1.75
4.08
2.00
1.75
4.08
2.00
2.51
2.87
3.28
1.75
4.08
2.00
1.75
4.08
2.03
1.75
4.08
2.03
2.74
3.02
3 42
1.75
4.08
2.06
1.75
4.08
2.17
1.75
4.08
2.23
2.78
3.04
3.52
1.75
4.08
2.23
1.75
4.08
2.37
1.06
1.31
1.63
1.63
1.16
1.44
1.63
1.63
1.31
1.66
1.63
1.63
1.31
1.73
1.63
1.63
1.31
1.69
1.63
1.63
1.31
1.72
1.63
1.63
1.39
1.86
2.00
2.00
1.50
1.96
2.00
2.00
1.63
2.06
2.00
2.00
1.63
2.13
2.00
2.00
1.63
2.17
2.25
2.15
1.63
2.31
2.25
2.25
1.63
2.31
2.25
2.25
1.172
1.45
1.211
1.45
1.315
1.55
1.329
1.65
1.364
1.62
1.367
1.64
1.387
1.66
1.391
1.67
1.422
1.86
1.520
12.03
1.578
2.04
1.499
2.00
1.593
1.94
11, 476
3,061
11, 448
3,021
11,462
2,991
11, 464
2,967
11, 525
2,947
11, 646
2,924
11, 635
2,901
11, 625
2,877
11, 648
2,852
11, 662
2,831
11, 710
' 2, 808
11, 821
v 2, 785
11, 840
p 2, 766
18, 842
13, 009
7,613
4,107
19, 329
13, 344
7,858
4,213
19,398
13,389
7,879
4,227
19, 405
13, 306
7,805
4,175
20, 097
13, 459
7,904
4,126
19, 937
13, 252
7,694
4, 056
19, 533
13, 073
7,521
3,990
19,379
12, 976
7,368
3,946
19, 124
12, 902
7,270
3,934
19, 207
12, 920
7, 248
3,980
p 19, 256
p 12, 955
p 7, 234
p 4, 041
p 19, 133
p 12, 898
p 7, 166
p 4, 056
1,123
998
658
727
1,159
1,028
702
756
1,170
1,019
705
758
1,172
1,003
702
753
1, 245
1,029
710
794
1,201
982
694
761
1.162
956
677
736
1,133
924
655
710
1,103
905
636
692
r
P 1,055
p874
^602
p 1,018
P857
p 590
5,255
2,316
495
282
192
5,396
2,401
514
290
197
5,486
2,462
524
295
201
5,510
2,460
524
294
201
5,501
2,435
521
292
200
5,555
2,431
525
291
203
5,558
2.438
518
289
202
5, 552
2, 441
515
286
202
5,608
2,476
517
286
204
5,632
2,497
514
286
205
' 5, 672
2,506
518
288
207
p 5, 721
P 2, 515
p 522
P288
^209
'P 5, 732
p 2, 492
p 524
p 288
p 211
826
995
149
835
1,009
150
844
1,010
150
853
1,026
152
863
1, 037
153
864
1,084
157
863
1,090
158
856
1,094
158
853
1,112
160
850
1,119
161
'860
1.131
162
p 1, 151
v 164
P884
p 1, 167
p 166
do
_do _.
do
3,527
1,133
1,037
3,636
1,157
1,040
3,741
1,197
1,047
3,703
1,250
1,056
3,739
1,298
1,062
4, 239
1,332
1,067
4,248
1,352
1,085
4,010
1,369
1,081
3, 938
1,381
1,084
3,744
1,392
1,086
3,793
1,398
1,096
p 3, 804
p 1, 399
p 1, 098
p 3, 743
p 1, 398
p 1, 094
Consumer instalment loans made during the month,
by principal lending institutions:
Commercial banks
mil. of dol__
Credit unions
_.
do
Industrial banks
do
Industrial-loan companies
do
Small-loan companies ._
do
381
84
45
32
166
387
88
46
33
166
356
76
40
32
149
298
66
39
28
149
257
64
34
27
165
289
72
37
29
234
326
67
39
28
162
296
64
35
27
158
368
79
43
33
207
340
72
41
31
184
Mp 4942
'."Se
p 44
^33
"198
P35
P 204
T
"7
*V»
AIL
A
~V~
~""I~
-Perjp}U«'--
Discount rate (N. Y. F. R. Bank). _
do_
Federal land bank loans
do
Federal intermediate credit bank loans
do
Open market rates, New York City:
Acceptances, prime, bankers', 90 days _ do
Commercial paper, prime, 4-6 months
do
Time loans, 90 days (N. Y. S. E.)
do
Call loans renewal (N. Y. S. E.)
. w do
Yield on U. S. Govt. securities:
3-month bills §
do
3-5 year taxable issues
_- do
Savings deposits, balance to credit of depositors:
New York State savings banks
mil. of doL.
U.S. postal savings
do
CONSUMER CREDIT
18,295
Total consumer credit, end of monthO.mil. of dol__
12, 598
Instalment credit, total
do
7,343
Sale credit, total
do
3,994
Automobile dealers
- __ do_
Department stores and mail-order houses
1,081
mil. of dol__
976
Furniture stores,. _
do
597
Household-appliance stores
do
\
695
Jewelry stores _
do
All other retail stores
do
Cash loans, total
do
Commercial banks
do
Credit unions
do
Industrial banks
__ do
Industrial-loan companies
do
Insured repair and modernization loans
mil. of dol__
Small-loan companies
do
Miscellaneous lenders
do
Charge accounts
Single-payment loansO Service credit
-
_
r
T
r
1, 084
890
616
r 67g
P338
P76
P45
p 35
»206
FEDERAL GOVERNMENT FINANCE
Budget receipts and expenditures:
2,833
7,603
3,289
4,039
4,474
4,621
4,820
8,811
3,184
2,300
4,842
2,148
3,238
Receipts, total
mil. of dol__
2,571
7,089
4,211
8,112
2,851
4,605
3,146
4,257
2,056
2,626
4,448
2,860
1,881
Receipts, netdo
48
48
53
54
49
59
54
54
52
57
47
57
39
Customs
do
1,886
6,611
3,074
3,851
7,818
3,538
3,538
2,250
1,291
1,232
2,108
3,947
2,423
Income and employment taxes 9
do
722
719
747
838
764
690
853
797
775
746
808
737
948
Miscellaneous internal revenue
do
177
223
164
122
96
144
123
117
173
133
73
129
140
All other receipts
do
4,739
5,969
3,211
4,517
3,742
4,058
3,808
3,102
3,170
4,007
3,013
3,520
2, 515
Expenditures total t
do
232
1,557
163
968
514
253
156
580
142
229
134
646
271
Interest on public debt
do
435
384
425
472
443
426
456
460
402
427
470
449
'460
Veterans Administration
do
p 2, 930
2,495
2,396
1,510
1,651
2,160
2,057
1,695
1,338
1,149
1, 446
1,024
1,037
National defense and related activitiest__do
1,141
1,533
1,533
1.142
808
1,171
934
965
1,167
1,045
1,435
1,269
766
All other expenditures!
do
r
.' Preliminary.
^ ____ ^.
i Beginning
April 1,, 1951,, includes ] , J percent note of March 15, 1955, \% percent note of December 15, 1955, and 2^ percent bond of March 15,1956-58.
Revised.
0™~0 —r
2 Data reflect a reduction of $1,746,000, representing net investments of wholly owned Government corporations and agencies in public debt securities which were classified as expenditures in July-October.
cfFor bond yields see p. S-19.
fRevised series. Annual averages for 1939-48 on the new basis are available upon request.
§Revised to reflect yields on bills issued rather than on bills announced; comparable data for January 1947-November 1949 are available upon request.
©Revised beginning 1929 to exclude nonconsumer single-payment loans; data prior to October 1949 are available upon request.
9 Revised beginning January 1950 to include employment taxes formerly shown separately. JRevisions for total budget expenditures (June 1948-January 1949) are shown at bottom of
p. S-14 of the April 1950 SURVEY; those for national defense and all other expenditures (July 1948-February 1949), on p. S-17 of the September 1950 SURVEY.
SURVEY OF CURRENT BUSINESS
September 1951
Unless otherwise stated, statistics through
1948 and descriptive notes are shown in the
1949 Statistical Supplement to the Survey
S-17
1950
July
August
September
1951
October
November
December
January
February
March
April
May
June
July
255,941
253, 382
219, 448
33, 933
2,559
254,997
252, 553
219, 028
33, 525
2,218
254, 727
252, 280
218 690
33 590
2,447
255,093
252, 729
218 680
34, 049
2,364
255, 222
252, 852
218, 198
34, 653
2,370
255, 657
253, 325
218,618
34, 707
2,332
FINANCE—Continued
FEDERAL GOVERNMENT FINANCE—Con.
Public debt and guaranteed obligations:
Gross debt (direct), end of month, total
mil. of dol._
Interest-bearing, total _
do
Public issues
do_
Special issues
do >
Noninterest bearing
do _ _
Obligations guaranteed by U. S. Government,
end of month
mil. of dol
U.S. savings bonds:
Amount outstanding, end of month
do
Sales, series E, F, and O
do
Redemptions.do_ __
257, 541
255, 403
222,884
32, 518
2,138
257,874
255, 764
223, 059
32, 705
2,110
257, 216
254, 968
221, 572
33,396
2,247
256,937
254, 731
221, 191
33, 539
2,206
257, 077
254, 887
221 156
33 732
2,189
256, 708
254, 282
220, 575
33, 707
2,425
16
18
20
22
24
24
18
18
21
21
29
29
28
57, 655
417
57, 451
350
57, 473
310
58, 027
971
58,096
436
448
58, 248
541
58, 191
476
58, 133
386
58, 020
359
57, 938
310
57, 842
295
57, 784
289
57, 733
310
505
537
Government corporations and credit agencies:
Assets, except interagency, total
mil. of dol__
Loans receivable total (less reserves)
do
To aid agriculture
do
To aid home owners
__do
To aid railroads
do
To aid other industries
do
To aid banks
do
To aid other financial institutions
do
Foreign loans
do
All other
do
Commodities supplies and materials
do
U S. Government securities
do
Other securities
do
Land structures and equipment
do
All other assets
do
475
497
509
do
2,097
2,406
do
do
do
19
23
1,108
Privately owned interest
U S Goverment interest
do
do
21, 791
2,113
2,166
2 1, 009
525
109
535
108
518
105
126
1,180
36
885
«882
872
2862
458
97
462
95
463
94
111
460
93
20
20
19
18
87
289
84
286
81
283
75
282
281
36
36
35
108
473
760
6,116
564
1,764
2,162
3,467
2,951
1,264
19
1,247
1,234
234
214
268
21, 995
2
997
515
105
111
25
24
24
125
1,227
118
»97
113
294
36
8
22, 337
899
2893
2890
»884
426
103
436
103
439
102
439
99
23
23
108
»93
97
292
36
36
108
108
481
477
C1)
1,190
1,193
970
475
583
2,500
498
25
560
1,739
2,112
3,478
2,931
1,073
6,103
110
528
25, 104
13, 496
3,931
1,721
113
539
2
708
110
653
24,635
13, 228
3,884
1,528
110
458
(i)
824
6,078
531
1,774
2,075
3,473
2,945
1,141
24, 102
12, 769
3,684
1,387
Liabilities except interagency total
Bonds, notes, and debentures:
Guaranteed by the United States
Other
Other liabilities
Reconstruction Finance Corporation, loans and
securities (at cost) outstanding, end of month,
total
mil. of dol
Industrial and commercial enterprises, including
national defense
mil. of doLFinancial institutions
do
Railroads
do__States,territories, and political subdivisions_do
United Kingdom and Republic of the Philippines
mil. of doL.
Mortgages purchased _
do
Other loans
do
256, 125
253, 704
219, 712
33,992
2,421
106
106
22
22
95
290
93
290
36
36
2
883
447
98
106
20
2
105
104
2
103
103
72
36
36
61, 679
55, 675
61, 988
55, 909
62, 370
56, 224
62, 706
56, 334
63, 022
56, 652
63, 699
57, 158
64,296
57, 592
64, 539
57, 881
64, 822
58, 060
65, 156
58,309
65, 496
58, 759
65, 727
59, 085
66, 128
59, 437
' 54, 804
' 37, 804
15, 366
' 13, 239
«• 9, 815
' 2, 950
* 9, 673
55, 078
37, 731
15, 170
13, Oil
9,900
2,961
9,699
55, 381
37, 758
15,045
12,839
9,943
2,973
9,797
55, 669
37. 548
14, 687
12, 502
10, 042
2,988
9,831
55, 932
37, 522
14, 414
12,218
10, 092
2,987
10, 030
56, 519
37, 676
14, 221
12, 023
10, 187
2,998
10, 270
57, 131
37, 577
13, 916
11,718
10, 225
3,005
10, 431
57, 362
37, 414
13, 514
11, 307
10, 303
3,008
10, 589
57, 641
37, 342
13, 147
10, 927
10, 350
3,005
10, 839
57,894
37, 455
13,021
10,787
10, 376
3,017
11,041
58,091
37, 486
12, 741
10, 480
10, 457
3,024
11, 263
58, 431
37, 574
12, 657
10, 417
10, 503
3,033
11, 381
' 11, 831
«• 1, 092
r
10, 739
' 2, 004
1,207
r
1,231
12, 064
1,099
10, 965
2,024
1,216
1,317
12, 302
1,110
11, 192
2,036
1,228
1,346
12, 570
1,125
11. 445
2,047
1,244
1,412
12. 866
1,136
11. 731
2,056
1,259
1,429
13, 252
1,148
12, 104
2,067
1,278
1,457
56,886
37, 593
14,064
11, 865
10, 192
3,011
10, 325
863
13, 573
1,170
12, 403
2,078
1,286
1,493
13, 848
1,196
12, 652
2,089
1,296
1,529
14, 141
1,218
12, 923
2,107
1,304
1,488
14, 397
1,239
13 158
2,119
1,311
1,495
14, 675
1,263
13, 412
2,133
1,321
1,506
14, 921
1,283
13, 639
«• 2, 146
1,323
1,450
15, 139
1, 298
13, 841
2, 156
1, 342
1,468
2,325
515
413
1,397
96
312
284
127
175
62
125
51
165
2,540
349
414
1,777
117
361
346
169
239
84
185
64
212
2,468
617
411
1,440
89
294
302
140
177
64
135
55
183
2,595
700
500
1, 395
95
320
299
128
162
65
121
48
158
2,692
881
455
1,356
95
333
293
120
147
60
111
47
150
2,973
1,142
389
1,442
94
323
300
146
162
56
129
59
174
2,068
333
395
1,340
105
336
281
120
147
52
115
45
139
2,354
649
424
1,282
92
318
273
114
147
49
110
43
137
2,463
429
486
1,548
107
381
326
137
173
57
143
56
169
2,284
316
466
1,502
100
369
322
126
172
58
136
53
166
2,428
411
505
1,512
96
368
324
133
172
58
135
55
171
2,295
343
475
1,477
93
356
315
134
166
58
138
49
166
2, 219
334
Institute of Life Insurance:
Payments to policyholders and beneficiaries,
304, 642
345, 502
370, 946
302, 338
304, 142
366, 291
280,449
338, 335
estimated total
thous. of dol__ 277,771
305, 847
336, S&7
115, 933
141,539
137, 352
157, 309
149, 159
117, 588
129, 006
Death claim payments
do
131, 433
136, 412
153 724
146 005
39, 566
35, 834
40, 964
50, 856
43, 178
Matured endowments
_ _do. .
36, 949
38, 190
41,556
47, 349
40, 493
43, 726
8,542
8,282
8,222
7,462
8,846
8,658
7,959
8,682
Disability payments
do
8,381
9,487
8,831
Annuity payments
do
23, 573
19, 077
21.056
22 573
22 689
21, 183
18, 131
27, 999
21 715
21, 090
21, 253
42, 439
53, 330
87, 922
Policy dividends
do
44, 147
45, 943
48, 456
43, 378
66, 004
49, 887
71, 371
57,811
60.249
Surrender values
do
57, 024
50, 362
54. 309
53. 161
62. 476
50. 442
52, 607
55, 930
59. 291
58. 309
r
Revised. 1 Less than $500,000.
» Excludes holdings of the Federal National Mortgage Association; this agency was transferred to the Housing and Home Finance Agency on Sept. 7, 1950.
338, 256
142, 116
42, 984
8,247
22, 512
65, 101
57, 296
307, 283
135, 428
38, 234
8, 152
22, 550
48, 788
54, 131
36
36
LIFE INSURANCE
Assets, admitted:
All companies (Institute of Life Insurance) , estimated total
mil. of dol
Securities and mortgages _ __
do
49 companies (Life Insurance Association of
America), total.
mil. of dol
Bonds and stocks, book value, total
do. __
Govt. (domestic and foreign), total
_do
U. S. Government
do
Public utility
do
Railroad
do
Other _
do
Cash
do
Mortgage loans, total
do
Farm
_
do
Other
do
Policv loans and premium notes
do
Real-estate holdings
do
Other admitted assets
do
Life Insurance Agency Management Association:
Insurance written (new paid-for-insurance) :
Value, estimated total
mil. of doL_
Group
do_. .
Industrial
_
do
Ordinary, total
do
New England
do
Middle Atlantic
do _ _
East North Central
do
West North Central
do
South Atlantic
do
East South Central..
do__
West South Central
do
Mountain
_ do__
Pacific
do
r 727
725
712
848
799
789
792
908
977
804
765
751
420
1,465
95
346
320
130
172
57
130
51
164
SUEVEY OF CURRENT BUSINESS
S-18
Unless otherwise stated, statistics through
1948 and descriptive notes are shown in the
1949 Statistical Supplement to the Survey
September 1951
1950
July
August
September
1951
October
November
December
January
February
March
April
May
June
July
591, 532
60,565
71, 275
48,500
80, 391
330, 801
489, 571
47, 472
69,653
43, 044
64, 519
264,883
525, 553
61, 935
64,029
42, 184
65, 808
291, 597
548, 412
51, 957
59,088
42, 243
82, 265
312, 859
502,612
50, 164
79, 585
44, 047
66, 224
262, 592
22, 706
23, 037
22, 392
21, 806
22,086
-35, 311 -237, 935 -248, 540 -184, 357 -111, 239
95, 825 ' 107, 834
161, 750
125, 704
110, 136
2,833
3,117
2,240
2,242
2,257
63,358
65, 546
37, 138
37, 674
37, 815
35, 594
37, 951
13, 258
13, 407
13, 107
13, 034
12, 148
6,960
5,784
7,545
5,917
5,196
21, 805
101,914
112, 842
2,245
21, 755
-12,947
43,357
2,398
21, 756
46, 270
'41,422
3,840
P 21, 759
—8, 790
28, 374
12, 165
12, 689
5,529
12, 913
5,536
5,921
FINANCE—Continued
LIFE INSURANCE—Continued
Life Insurance Association of America:
Premium income (39 cos.), total
thous. of dol.Accident and health
do
Annuities
-_
do
Group
do. _
Industrial
.__
_ _ _ _ _ __do
Ordinary
- -_do
442, 303
34, 505
67,160
35, 432
61, 966
243, 240
477, 976
43, 025
54, 865
42, 113
66, Oil
271, 962
476, 122
38, 796
48, 948
30, 101
75,080
283,197
452, 453
46, 545
53, 741
38, 507
64, 925
248, 735
491,850
43, 806
64,141
37, 849
63,386
282, 668
757, 998
67, 596
180, 356
60, 672
111,091
338, 283
550,671
44, 905
106, 132
49, 667
77, 056
272, 911
511, 135
49, 579
68, 709
44, 655
67,666
280, 526
MONETARY STATISTICS
Gold and silver:
Gold:
23,627
24, 136
Monetary stock, U. S _ _ _
__mil. of dol._
Net release from earmark §
thous. of dol. _ -89, 969 -431, 378
4,069
46, 368
Gold exports
do
4,146
2,556
Gold imports
do _
67, 430
64, 937
Production reported monthly total t
do
39, 425
38,969
Africa
'
do
13, 177
12, 893
Canada find Newfoundland) ^
do
7,890
7,078
United States
do
Silver:
425
375
Exports
__ .
do
8,904
10, 408
Imports
do
.728
.728
Price at New York
dol. per fine oz_.
Production:
2,282
2,286
Canada (incl Newfoundland)^ thous of fine oz
4,000
3,300
IVtexico
do
3,660
4,102
United States _
. _. _
__do
Money supply:
27, 120
27,010
Currency in circulation
mil. of dol__
Deposits, adjusted, all banks, and currency out174, 800
side banks totalO
mil. ofdol.- 173, 900
24, 500
24,400
Currency outside banks
__ _ -do
Deposits, adjusted, total, including U. S. de150, 300
positsO
mil. of doL. 149, 500
87, 400
86,500
Demand deposits, adjusted, excl. U. S. _ do
59, 100
59, 400
Time deposits, incl. postal savings
do
Turn -over of demand deposits, except interbank and
U. S. Government, annual rate:
33.8
31.0
New York City
ratio of debits to deposits..
19.9
20.3
Other leading cities
.
do
23,483
23, 249
-65, 889 -146, 220
108, 448
95, 967
11, 998
2,519
65,605
67, 026
38, 443
38, 306
12, 771
13,190
7,846
8,170
334
17,371
.728
335
12,350
.751
947
13, 870
.800
2,246
10, 602
!800
3,623
10, 999
.887
282
8,101
.902
1,932
'17,486
.902
332
10, 016
.902
273
7,015
.902
'182
16, 828
.884
2,164
4,000
4,222
2,398
4,400
2,747
1,854
4,300
3,433
1,879
4,000
3,939
2,015
5,545
3,769
1,589
5,249
3,374
1,755
1,903
4,371
1,468
3,583
3,429
1,840
2,097
3,482
2,037
3,932
2,758
27, 161
27, 228
27, 595
27, 741
27, 048
27, 188
27, 119
27, 278
27, 519
' 27, 809
27,851
175, 100
24, 500
175, 900
24, 600
176, 900
24, 900
179,906 » 178, 000 f 179, 000 f 178, 900 v 179, 100 * 178, 500 » 180, 500 J> 180, 500
25, 398 v 24, 600 ^24,600 v 24, 400 v 24, 600 J> 24, 900 P 25, 000 T 25, 100
150, 600
88,000
59, 000
151, 300
89, 200
59, 000
152, 000
90, 300
58, 700
154, 508 p 153, 400 v 154, 400 p 154, 500 t> 154, 500 p 153, 600 * 155, 500 v 155, 400
92, 272 p 91, 600 P 90, 600 v 89, 000 P 89, 500 P 89, 500 v 89, 500 v 90, 800
59, 247 v 59, 000 * 59, 000 v 59, 100 v 59, 200 * 59, 300 J> 59, 800 J> 60, 100
34.2
21.5
30.7
20.9
31.4
21.7
37.2
23.0
32.9
22.0
30.7
21.5
35.5
22.5
32.5
22.3
30.0
21.3
34.4
22.2
565
4,686
.902
31.1
20.9
PROFITS AND DIVIDENDS (QUARTERLY)
Manufacturing corporations (Federal Reserve):*
Profits after taxes total (200 cos )
mil of dol
Durable goods total (106 cos )
do
Primary metals and products (39 cos ) do
Machinery (27 cos )
do
Automobiles and equipment (15 cos ) do
Nondurable goods total (94 cos )
do
Food and kindred products (28 cos ) do
Chemicals and allied products (26 cos ) do
Petroleum refining (14 cos )
do
Dividends total (200 cos )
do
Durable goods (106 cos )
do
Nondurable goods (94 cos )
do
Electric utilities, profits after taxes (Fed. Res.) 9
mil of dol
Railways and telephone cos. (see p. S-23).
1,245
777
255
108
358
468
88
176
131
583
370
213
958
576
206
140
186
382
59
127
130
873
541
333
'906
530
201
'94
196
'376
' 58
' 140
123
467
269
198
P924
v 547
f> 211
»92
v 204
f> 375
v 47
v 139
p 123
v 473
P 273
P 201
171
211
229
P 195
SECURITIES ISSUED
Commercial and Financial Chronicle:
Securities issued, by type of security, total (new
capital and refunding)
mil of dol
New capital, total
do
Domestic, total
do
Corporate
do
Federal agencies
do
Municipal, State, etc
do
Foreign
do
Refunding, total
do. __
Domestic, total
do _
Corporate
do
Federal agencies
do
Municipal, State, etc
._ _ _ __do
579
505
505
292
8
204
0
75
75
21
53
1
795
555
529
263
0
265
26
240
190
134
48
8
943
707
687
270
145
272
19
236
219
20
193
6
794
651
646
465
0
181
5
143
77
77
63
3
752
598
584
229
0
356
14
154
154
74
65
14
840
630
630
394
98
138
0
210
210
103
79
28
519
442
436
242
41
154
6
77
77
13
45
19
834
649
594
365
48
181
5
184
184
27
154
3
1,233
1,022
1,001
795
48
158
21
211
180
82
88
10
1,064
920
918
660
29
228
2
144
144
80
61
4
1,161
946
865
398
60
407
80
215
215
13
198
4
1,302
1,106
1,075
706
89
280
31
197
197
57
137
3
Securities and Exchange Commission:!
T
1, 569
1,239
1,236
1,947
1,454
' 1, 602
3,951
Estimated gross proceeds, total
do
1,757
1,635
1,180
1,126
1,516
1,740
By type of security:
r
1, 515
1,159
1,160
1,754
1,383
' 1, 499
1,112
1,084
1,220
Bonds and notes, total. _ _
_do
1,545
1,646
1,468
3,723
'378
329
245
'554
341
332
637
341
814
597
Corporate
do
206
528
314
18
47
48
88
23
59
Common stock
_ _ __do
89
34
34
143
196
152
130
36
30
30
106
48
8
43
22
100
52
Preferred stock
do
34
76
37
By type of issuer:
'432
408
322
526
'656
412
274
824
Corporate, total
_ do_ _
383
1,009
748
825
481
55
72
72
176
137
169
38
Manufacturing*
do
304
411
388
65
367
132
215
58
164
253
160
238
175
134
284
Public utility t
do
222
155
213
191
39
10
10
19
19
70
Railroad __
do
44
20
26
30
14
26
18
3
4
5
10
7
2
2
20
15
16
Communication*
do
24
426
51
r
'74
34
29
Real estate and
financial
_ do_ _
27
42
118
28
20
50
40
36
124
71
1,137
913
831
945
Noncorporate, total
do
1,422
1,042
906
742
731
692
1 009
3 126
1 154
773
531
706
U. S. Government
do
655
451
1,228
730
502
520
777
581
2 830
834
State and municipal
do...
299
279
384
205
175
189
162
185
234
343
166
'284
313
' Revised.
* Preliminary.
§Or increase in earmarked gold (-).
JRevisions for January-May 1950, respectively, for total gold production (mil. of dol.) are: 64,009; 60,098; 66,415; 63,029; 65,573. Revisions for 1948April 1949 and January-March 1950 for securities issued (SEC data) are available upon request.
^Monthly data for 1949, revised to include production in Newfoundland, are available
upon request; January-April 1950 figures as previously published include such production.
0U. S. Government deposits at Federal Reserve banks are not included.
*New series. Data on profits and dividends cover large manufacturing corporations (total assets end of 1946, $10,000,000 and over); quarterly averages for 1939-48 and quarterly data for
1946-March 1948 are shown on p. 23 of the June 1950 SURVEY. Data on securities issued for manufacturing and communication for January 1948-May 1949 are available upon request.
9 Revisions for 1946-48 are available upon request.
fRevised series. Data (covering electric, gas, and water companies) are available beginning January 1948.
SURVEY OF CURRENT BUSINESS
September 1951
Unless otherwise stated, statistics through
1948 and descriptive notes are shown in the
1949 Statistical Supplement to the Survey
S-19
1950
August
July
September
1951
October
November
December
January
February
March
April
May
June
July
FINANCE—Continued
SECURITIES ISSUED—Continued
Securities and Exchange Commission:!:— Continued
New corporate security issues:
Estimated net proceeds, total
mil. of dol_.
Proposed uses of proceeds:
New money total
do
Plant and equipment
do
Working capital
do
Retirement of debt and stock, total. .do
Funded debt
do
Other debt
do _
Preferred stock
do
Other purposes
do _
Proposed uses by major groups:
Manufacturing, total*
do __
New money
do
Retirement of debt and stock
do. _
Public utility, total t
do
New money
do
Retirement of debt and stock
do
Railroad, total.
__
do
New money
do
Retirement of debt and stock
do
Communication, total*
do
New money._ _ do
Retirement of debt and stock
do
Real estate and financial, total.
do _
New money
do
Retirement of debt and stock
do
State and municipal issues (Bond Buyer) :
Long-term
thous. of dol
Short-term.
do _
318
-427
399
514
406
••649
269
378
994
810
739
812
472
214
148
66
45
20
23
2
60
r
300
243
57
62
23
31
306
189
117
88
51
24
13
12
r
37
306
256
50
177
68
92
17
31
433
242
r
!90
168
83
84
1
49
243
193
49
25
12
11
2
2
314
243
71
57
28
27
2
6
845
699
146
121
68
53
0
28
626
504
122
129
13
64
52
55
676
487
189
46
14
26
6
18
685
431
253
112
54
49
9
15
436
326
110
33
11
21
1
3
71
45
22
158
139
12
10
10
171
59
97
233
172
47
19
19
15
12
3
26
23
2
136
100
30
162
122
40
19
19
0
15
8
7
41
36
2
166
119
43
173
14033
69
13
56
4
4
0
r
l!7
r
99
5
37
29
8
132
126
6
44
44
0
2
2
0
27
25
1
64
53
9
219
199
20
26
8
18
2
2
0
39
33
3
298
219
73
151
97
36
30
30
0
423
422
0)
20
16
2
405
301
94
278
230
20
20
20
0
24
24
0)
35
30
2
384
353
20
209
204
3
14
14
0
4
4
0)
50
37
10
361
314
42
249
234
13
26
26
0
3
2
0)
123
73
49
129
109
19
188
178
10
18
18
0
50
50
0
70
68
0
335, 166
105, 887
312, 569
72, 096
71
48
21
58
44
13
10
10
0
20
19
1
33
25
2
257
180
r 77
152
136
10
5
19
54
28
15
213
105
107
39
35
4
10
6
4
'73
s
o
o
13
7
5
2
29
23
5
206 855
136, 896
322 795
172 489
290 006
39 798
229 427
123* 887
394 581
202 771
170 557
176 520
180, 040
115,289
205, 771
158,609
169, 623
89, 529
237, 662
191, 699
433 960
162 557
167
518
132
336
143
275
132
253
243
317
227
391
265
449
186
480
181
426
155
409
222
434
185
389
175
445
1,208
712
755
1,231
780
752
1,284
738
751
1 351
771
759
1,360
796
774
397
1,356
890
745
1,411
948
690
1,367
953
642
1,304
918
715
1,286
879
661
1,287
855
681
364
1,275
834
680
1,266
825
672
r 57
T
r
COMMODITY MARKETS
Volume of trading in grain futures:
Corn
Wheat
mil. of bu
do...
SECURITY MARKETS
Brokers9 Balances (N. Y. S. E. Members
Carrying Margin Accounts)
Cash on hand and in banks
Customers' debit balances (net)
Customers' free credit balances
Money borrowed
mil. of dol
_do
do
do
Bonds
Prices:
Average price of all listed bonds (N. Y. S. E.),
99. 30
98.72
101. 18
100. 90
total§
dollars-100. 93
100. 82
101.06
101. 25
97.86
98.48
101. 33
100. 83
98.28
99.77
99.24
101. 69
101.38
Domestic
do
98 79
101. 72
101. 45
98 37
101. 30
101 52
101 79
98.98
101 27
71.94
71.71
71.85
70.41
72.56
71.88
71.71
Foreign
_
do _
74.05
72.56
73.10
71.78
73.37
71.70
Standard and Poor's Corporation:
Industrial, utility, and railroad (A1+ issues) :
121.4
119.4
121.1
121.3
121.1
117.8
122.1
Composite (17 bonds) * _ _ _ dol. per $100 bond..
121.1
121.5
116.6
121.7
117.4
116.2
140.5
137.4
135.5
137.0
131.9
140.7
135.2
Domestic municipal (15 bonds)
do
136.4
134.8
129.4
131.1
128.6
131.1
100. 28
101. 56
101.44
101. 69
102. 28
102. 24
98.93
101. 53
U. S. Treasury bonds, taxable
do
97.62
101.90
97.93
101. 64
97.90
Sales:
Total, excluding U. S. Government bonds:
All registered exchanges:
112, 608
72, 842
97, 580
77 203
106 614
76, 914
82 962
Market value
thous of dol
52 767
68 654
106 848
69 822
54 048
77 833
135, 822
83, 272
120, 019
94, 709
108, 793
86, 108
132, 672
84, 250
100, 627
Face value
do
66, 368
93 748
63 267
80 270
New York Stock Exchange:
110, 023
70, 081
95, 099
74, 563
74, 646
103, 389
104, 014
65, 795
80, 536
Market value
-do
67 378
51 192
74 681
50, 590
132, 186
79, 406
116, 476
91, 786
97, 044
105, 659
82, 658
80, 272
62, 649
Face value ..
.do. . 128, 381
90, 132
77, 369
60, 114
New York Stock Exchange, exclusive of stopped
76, 668
120, 000
111, 222
87, 260
76, 484
80, 583
sales, face value, total§
thous. of doL. 113, 040
86, 996
76, 030
83, 982
67 814
55, 399
56, 400
5
1
9
2
0
o
23
12
12
13
37
TJ S Government
do
1,946
1 636
119, 999
111, 199
76, 659
86, 996
87, 247
76, 472
80, 571
Other than U. S. Government, total §
do
113, 003
74, 084
82, 346
56, 398
67, 809
55, 399
101,
824
110,
535
78,
641
74, 865
68,
618
67,
413
77,
384
68, 717
105, 879
Domestic
_
do
61
391
45 698
74 340
49 191
9,355
8,009
9,446
9,592
8,602
7,044
7,740
5, 688
Foreign
do
7 981
6,601
6 179
6 408
10 650
Value, issues listed on N. Y. S. E.:
115, 952
116, 165
125, 209
114, 382
115, 801
118, 507
118, 861
125, 257
Market value, total, all issues§
mil. of dol
100, 247
118, 417
98 457
99 938
97 818
114, 541
114, 347
116, 870
123, 607
117, 158
123, 581
112 758
114 163
Domestic
do
98 630
116 802
96 777
98 278
96 163
1,354
1,374
1,385
1 451
1 396
1 375
1 377
1 389
1 362
Foreign
do
1 373
1 389
1 369
1 366
114, 889
114, 808
123, 612
123, 660
115, 183
114, 769
117, 618
101, 545
117, 441 117, 544
Face value, total, all issues§
_ do _
101 692
99 975
99 958
97 754
97 775
112, 643
99 482
121, 437
115, 367
115, 409
112, 716
121, 493
112 605
115 334
113 019
Domestic
do
99 384
1,924
1,959
1,917
1,923
1,927
1,914
1,916
1,914
Foreign
do..
1,857
1,912
1 910
1 904
1,900
Yields:
2.86
2.85
2.90
2.88
2.86
2.88
Domestic corporate (Moody 's)
percent
2.85
2.88
2.96
3 07
3 17
3 09
3 16
By ratings:
2 78
2.64
2.61
2.67
2 66
2.67
2.65
2 67
2 66
Aaa
do
2 87
2 89
2 94
2 94
2 71
2.72
2 71
2 72
2 67
2 72
2 72
2 93
2 71
2 82
Aa
do
2 93
2 99
2 99
2.91
2.88
2.92
2.92
2.91
2.87
2 89
2 88
A
do
3 00
3 11
3 15
3 23
3 21
3.21
3.22
3.23
3.32
3.20
3.17
3.22
3 23
3 16
Baa
do
3 35
3 53
3 40
3 49
By groups:
2.69
2.66
2.68
2.70
Industrial
do_2.70
2.69
2.70
2 81
2 69
2 89
2 90
2 97
2 96
2.84
2.80
2.83
2 85
2 86
2 87
2 85
Public utility
do
2 96
2 86
3 07
3 10
3 19
3 18
3.19
3.08
3.07
3.08
3.07
3.09
Railroad
_
_
do
3.03
3 24
3 01
3 11
3 28
3 33
3 36
Domestic municipal:
1.83
1.85
1.85
Bond Buyer (20 bonds)
do
1.75
1.75
1.70
1 58
1 82
1 94
1 63
2 07
2 21
2 06
2.09
1.90
1.88
1.82
1.79
Standard and Poor's Corp. (15 bonds)
do
1.77
1.62
2.05
1.61
1.87
2.09
2.22
2.18
2.33
2.34
2.36
2.39
2.38
2.38
2.39
U. S. Treasury bonds, taxable
do
2.40
2.47
2.56
2.63
2.65
2.63
'Revised.
1 Less than $500;000.
^Revisions for 1948-April 1949 and January-March 1950 are available upon request.
*New series. For S. E. C. data, see corresponding note on p. S-18. Bond prices are averages of weekly data for high-grade corporate issues; monthly data beginning 1900 are available upon
request.
tRevised series. See corresponding note on p. S-18.
§Sales and value figures include bonds of the International Bank for Reconstruction and Development not shown separately; these bonds are included also in computing average price
of all listed bonds.
SURVEY OF CUKEENT BUSINESS
S-20
Unless otherwise stated, statistics through
1948 and descriptive notes are shown in the
1949 Statistical Supplement to the Survey
September 1951
1951
July
August
Se
m
g£ -
1950
October
November
December
January
F
U
|ry ~
March
April
May
June
July
FINANCE—Continued
SECURITY MARKETS—Continued
Stocks
Cash dividend payments publicly reported: t
Total dividend payments...
mil. of dol_Finance
do
Manufacturing
do
M!inin°r
do
Public utilities:
Communications
do
Heat, light, and power
do
Railroad
do
Trade
do
Miscellaneous .. _ do
Dividend rates, prices, yields, and earnings, 200
common stocks (Moody's) :
Dividends per share, annual rate (200 stocks)
dollars- .
Industrial (125 stocks)
. __ .
do.
Public utility (24 stocks) f
do.-.
Railroad (25 stocks)
do
Bank (15 stocks)
.
do. Insurance (10 stocks)
do
520.0
113.4
223.7
5.1
214.3
41.5
108.0
3.3
1, 153. 0
73.6
798.5
76.6
496.4
87.6
220.8
5.9
242.1
38.0
129.1
2.5
2, 138. 7
198.8
1, 459. 3
139.1
494.1
105.9
174.0
4.0
214.2
39.5
105.2
1.8
1, 066. 2
70.9
688.3
77.1
516.4
83.1
204.3
8.0
209.5
40.1
107.9
1.4
1,116.3
76.8
729.6
87.8
524.6
124.1
203. &
5.8
66.7
55.3
9.4
36.1
10.3
.7
42.0
7.0
7.4
4.4
35.9
61.4
31.3
52.0
23.7
66.6
50.6
13.4
43.0
8.5
.6
43.4
15.1
8.3
5.1
39.8
75.3
91.4
87.4
47.6
72.2
49.5
12.8
64.9
10.8
.7
41.5
8.0
15.2
2.3
38.3
67.4
60.3
40.3
23.6
74.9
54.4
25.0
54.9
11.8
.7
44.7
3.5
8.5
2.7
24.3
69.1
55.0
47.8
25.9
74.8
51.811.1
39. S
13. 9=
3.39
3.59
1.78
2.04
2.48
2.43
3.63
3.91
1.78
2.05
2.48
2.43
3.66
3.95
1.78
2.15
2.50
2.43
3.84
4.17
1.84
2.24
2.50
2.43
4.04
4.40
1.85
2.45
2.60
2.66
4.06
4.44
1.85
2.47
2.61
2.71
4.11
4.49
1.85
2.54
2.65
2.71
4.11
4.48
1.85
2.55
2.65
2.71
4.11
4.49
1.86
2.55
2.65
2.71
4.15
4.52
1.87
2.58
2.65
2.73
4.15
4.51
1.87
2.58
2.65
2.73
4.15
4.53
1.87
2.58
2.63
2.73
4.18
4.551.87
2.58
2.63
2.7a
Price per share, end of month (200 stocks). .do
Industrial (125 stocks)
do
Public utility (24 stocks)fdo.-..
Railroad (25 stocks)
do .
54.98
56.43
29.73
34.61
56.80
58.68
30.07
34.25
58.87
61.27
30.58
35.62
59.13
61.65
30.55
35.03
59.37
61.77
30. 34
35.70
61.80
64.46
30.81
40.95
65.01
68.21
31.86
44.34
65.57
68.61
32.82
42.90
64.25
67.40
31.77
40.52
67.20
71.15
31.78
42.17
65.39
68.88
31.99
40.04
63.40
66. 75
31.70
36.68
67. 4&
71.28
32. 67
39. 93
Yield (200 stocks)
percent-Industrial (125 stocks)
_._ .
do
Public utility (24 stocks) f
do.
Railroad (25 stocks)
_
do
Bank (15 stocks)
_. do
Insurance (10 stocks)
do
Earnings per share (at annual rate), quarterly:
Industrial (125 stocks)
dollars
Public utility (24 stocks) f
do
6.17
6.36
5.99
5.89
4.50
3.74
6.39
6.66
5.92
5.99
4.50
3.51
6.22
6.45
5.82
6.04
4.45
3.27
6.49
6.76
6.02
6.39
4.63
3.22
6.80
7.12
6.10
6.86
4.61
3.43
6.57
6.89
6.00
6.03
4.71
3.43
6.32
6.58
5.81
5.73
4.73
3.52
6.27
6.53
5.64
5.94
4.48
3.52
6.40
6.66
5.85
6.29
4.61
3.45
6.18
6.35
5.88
6.12
4.74
3.41
6.35
6.55
5.85
6.44
4.77
3.49
6.55
6.79
5.90
7.03
4.86
3.48
6. 20
6.38
5.72
6.46
4.79
3.35
Dividend yields, preferred stocks, 11 high-grade
(Standard and Poor's Corp.)
percent-Prices:
Dow- Jones & Co., Inc. (65 stocks) dol. per share. .
Industrial (30 stocks)
do__
Public utility (15 stocks)
__ ._
do
Railroad (20 stocks)
do
Standard and Poor's Corporation:
Industrial, public utility, and railroad: §
Combined index (416 stocks) .-1935-39 = 100-.
Industrial, total (365 stocks)
do
Capital goods (121 stocks)..
do
Consumers' goods (182 stocks)
_.do
Public utility (31 stocks)
do....
Railroad (20 stocks)
_.__do
Banks, N. Y. C. (19 stocks)..
do.—
Fire and marine insurance (18 stocks) .do
Sales (Securities and Exchange Commission):
Total on all registered exchanges:
Market value..
mil. of dol__
Shares sold
thousands
On New York Stock Exchange:
Market value
mil. of dol._
Shares sold
thousands
Exclusive of odd lot and stopped sales
(N Y Times)
thousandsShares listed, New York S'tock Exchange:
Market value, all listed shares
mil. of dol_.
Number of shares listed
millions..
9.44
2.54
9.80
f
9.08
2 62
11 84
r
7.60
r
r
7.70
2 60
3.47
2 53
5.52
3.92
3.85
3.85
3.88
3.88
3.89
3.87
3.87
4.11
4.15
4.17
4.20
73.22
205. 30
38.69
56.46
77.56
216. 60
38.88
62.48
80.21
223. 21
39.44
65.93
82.91
229.32
40.63
69.09
82.56
229. 38
40.41
68.32
84.24
229. 26
39.59
74.04
90.86
244. 45
42.06
82.05
94.98
253. 32
42.87
88.09
92.39
249. 50
43.03
82.66
92.86
253. 36
42.36
82.59
92.57
254. 36
42.28
81.37
90.46
249. 32
42.55
78.06
91.29
253. 60
43. 75
77.04
138.2
147.3
138.6
141.8
103.0
109.7
102.2
157.1
147.2
158.0
149.4
149.1
104.2
120.6
104.6
159.2
151.7
163.3
153.2
155.4
104.9
125.1
105.8
168.7
157.8
170.7
159.3
164.9
106.2
129.2
105.4
175.1
156.1
168.8
159.9
160.2
105.0
126.5
104.6
180.2
158.4
171.2
164.3
157.8
104.4
139.4
105.2
184.2
168.6
182.6
175.2
165.9
108.6
152.8
106.3
185.7
174.7
189.6
181.5
171.0
111.0
159.1
109.8
180.5
170.3
184.4
175. 0
169.0
111.2
148.7
110.2
180.7
172.3
187.3
179.4
168.8
110.2
148.7
106.1
181.9
173.9
189.3
181.9
167.9
110.5
147.5
105.6
183.4
171. 7
186.9
179.2
163. 1
110. 2
141.6
105.4
182.7
172.8
188.1
179. 9:
163.7
111. 5
139.4
104.2
184.9
1,930
72, 026
1,700
65, 977
1,608
63,712
2,090
84, 451
1,864
66, 685
2,261
93, 209
2,969
122, 363
2,086
82, 631
1,683
67, 480
1,547
67, 024
2,027
74, 211
1,337
52, 456
1,354
53, 154
1,692
57, 074
1,456
50,038
1,380
48,009
1,796
64, 422
1,618
51, 231
1,981
72, 737
2,572
91, 995
1,791
61, 534
1,442
53, 327
1,320
50, 583
1,746
56, 928
1,143
40, 667
1,171
42, 438
44, 549
38, 473
38, 594
48, 390
43, 085
59, 820
70, 181
41,234
35, 625
34,290
38, 457
27, 402
27, 989
82,000
2,247
85, 053
2,257
88, 673
2,272
88, 525
2,325
89, 506
2,333
93, 807
2,353
99, 340
2,384
100, 246
2,391
98, 112
2,421
102, 747
2,437
100, 120
2,452
97, 920
2,528
104, 610
2,557
4.00
INTERNATIONAL TRANSACTIONS OF THE UNITED STATES
BALANCE OF PAYMENTS (QUARTERLY) J
r
r
3,494
2,498
477
519
4,148
3,106
do
do
do
do
3,374
2,533
90
751
3,515
2,815
Balance on goods and services
do
+120
Unilateral transfers (net) total
Private
Government
do
do.
do
-972
-107
-865
U S long- and short-term capital (net) total do
Private
do
Government.
do
-872
-835
-264
-258
r
-353
r -294
r
—59
—382
-327
—55
Foreign long- and short-term capital (net)
+809
+187
r+l
+66
+740
+771
+893
+55
Exports of goods and services total
Merchandise adjusted
Income on investments abroad
Other services
mil of dol
do
do
do
Imports of goods and services total
Merchandise, adjusted
Income on foreign investments in U S
Other services
do
Increase (— ) or decrease (+) in U. S. gold stock
mil. of dol
-37
518
524
146
554
r
r
4, 375
3, 414
••396
••565
5,262
4, 103
3, 915
3, 217
3,915
3,122
470
689
'86
••612
101
692
+633
••+460
+1, 347
-1,237
-127
-1,110
' —1, 147
' -112
f — 1, 035
-1,333
-104
— 1, 229
-6
r
-90
+247
Errors and omissions _do
+146
" Revised.
» Preliminary.
A -nvil 1 DKr>
^Revisions for cash dividend payments publicly reported for January-April
1950 are available upon request. Balance-of-payments data have been revised beginning 1948; revisions through
the first quarter of 1950 will be shown later.
tRevised series. Data for American Telephone and Telegraph stock (included in figures for 200 stocks) are excluded. Monthly data for 1929-48 are available upon request.
§Number of stocks represents number currently used; the change in the number does not affect the continuity of the series.
+175
September 1951
SURVEY OF CURRENT BUSINESS
Unless otherwise stated, statistics through
1948 and descriptive notes are shown in the
1949 Statistical Supplement to the Survey
S-21
1950
July
August
September
1951
October
November
December
January
February
March
April
May
June
July
INTERNATIONAL TRANSACTIONS OF THE UNITED STATES—Continued
FOREIGN TRADE*
v
Indexes
Exports of U. S. merchandise^
Quantity
Value
Unit value
Imports for consumption :^
Quantity
Value
_
_
Unit value
Agricultural products, quantity:
Exports, domestic, total:
Unadjusted, ..
Adjusted
Total, excluding cotton:
Unadjusted
Adjusted _
Imports for consumption:
Unadjusted
Adjusted
1936-38 = 100
do
do
178
315
177
172
308
179
200
368
184
195
366
188
209
396
189
221
431
195
199
393
197
215
435
202
252
517
205
265
556
210
259
548
212
249
525
211
143
342
240
162
399
247
157
404
257
170
446
263
152
411
271
152
418
276
171
496
289
151
442
293
167
504
302
151
466
308
148
461
312
140
446
319
1924-29=100
do
69
104
78
109
88
73
80
58
86
67
97
80
83
82
102
125
104
120
130
165
105
132
92
117
do
_ _ d o
98
125
101
109
120
98
116
90
117
101
129
117
119
123
141
179
155
181
190
231
155
174
150
177
do
do
113
126
134
146
122
128
126
127
109
114
103
103
140
133
118
116
132
116
112
104
104
107
99
109
5, 457
7,941
i 5,817
7,468
i 5, 885
8, 285
i 5, 306
7,601
14,414
7,421
1761
1911
1905
1976
i 1, 063
34, 514
156,003
244, 429
195, 717
130, 037
134, 230
do
do
do
.
Shipping Weight
Water-borne trade:
Exports, including reexports _ -thous. of long tons_.
General imports
_ do
i 5, 088
6,883
1
1
4, 225
7,771
i 6, 232
7, 537
1
8, 758
7,560
7,853
11,284
1 1, 374
1 1, 351
1 1, 293
35, 365
161, 848
299, 770
194, 522
120, 857
142, 598
50,114
211,078
317, 754
231, 962
161, 731
173,657
48, 215
233, 867
385, 297
263, 436
151, 902
172, 102
58, 721
183, 568
366, 839
255, 691
139, 551
173, 921
48, 704
192, 739
338, 549
236, 890
138, 158
186, 275
1
5, 130
7,283
r
Value
i 779
Exports, including reexports, total
mil. ofdol__
By geographic regions:
Africa
__
thous. of dol
29, 211
Asia and Oceania.
_.
do
' 119, 424
••178,004
Europe _.
do
Northern North America
_ do
166, 212
Southern North America
do
115, 565
South America.._ __
do _ . 100,430
Total exports by leading countries:
Africa:
Egypt
do
3,315
Union of South Africa
do_._
9,170
Asia and Oceania:
5,986
Australia, including New Guinea
do
British Malaya _ _
_
do
1,757
China
do
3,038
India and Pakistan
_ ____do
17, 485
Japan
do
'33,537
Indonesia
_ __
do
3,518
Republic of the Philippines
do _.. r 17, 077
Europe:
France
_
do
14, 198
Germany
__
do
20, 135
Italy
do
17,674
Union of Soviet Socialist Republics
do
9
United Kingdom
. .do
24,046
North and South America:
Canada, incl. Newfoundland and Labrador. .do
166, 181
Latin-American Republics, total
__do
200, 074
Argentina
_ _ _ _
do
8,963
Brazil
do
28, 024
4,333
Chile
. . do
Colombia
do __
20, 878
Cuba
_
_
do
38, 294
Mexico
do
40,308
Venezuela
_ _ _ _ _ _ _
do
26,238
Exports of U. S. merchandise, total
mil. of dol_.
1768
By economic classes:
Crude materials
thous. of dol__ r 107, 752
Crude foodstuffs..
_ do
57,324
r
Manufactured foodstuffs and beverages, .do
55, 463
84,
179
Semimanufactures 9
...do
r
Finished manufactures 9 ___
do
463, 111
By principal commodities:
r
Agricultural products, total
do
181, 047
r
Cotton, unmanufactured
do
46, 369
r
Fruits, vegetables, and preparations cf _ .do
13, 676
Grains and preparations _ _
do
73, 850
Packing-house products cf
do
11, 581
Nonagricultural products, total
do ... 586, 639
Aircraft, parts, and accessories!
.do
3,103
Automobiles, parts, and accessories cf §_ .do
62, 927
53, 412
Chemicals and related productscf
do
Copper and manufactures cf
do
4,075
Iron and steel-mill products
do
34, 189
1973
U,076
23,446
122, 991
184, 334
160, 515
115, 213
108, 999
26, 276
133, 783
247, 575
179, 853
141, 857
124, 143
32, 390
120, 204
240, 681
200, 446
122, 630
113, 667
28, 605
148, 450
248, 050
196, 455
133, 237
141, 201
42, 108
153, 794
284, 380
185, 903
135, 004
150, 178
1,680
9,803
2,442
9,695
2,359
8,345
3,570
9,939
4,531
12, 525
5,357
12,436
4,941
10,866
4,430
19, 192
4,794
24, 574
8,078
28,875
7,313
21,821
6,646
1,369
8,904
11, 922
31, 103
4,001
16, 500
8,880
2,135
1,004
11, 491
45, 225
6,468
17,004
7,422
2,053
984
15, 547
36, 569
5,887
16, 508
10,014
2,441
2,877
20, 434
35, 247
7,223
19,988
10, 832
1,556
84
24,042
42, 818
9,465
24, 303
11, 147
4,217
1
28,277
38, 815
8,858
19,604
7,430
4,893
8
19, 696
57, 556
10, 475
17,980
15,167
4,304
34,535
67, 734
18, 415
24,107
13, 168
5,463
0
39, 565
73, 061
15, 799
27, 241
8,099
4,246
27
35, 014
50, 146
15, 340
24, 026
12,826
4,447
0
30, 370
45, 554
14, 673
34, 323
14, 118
25, 852
18, 627
25
41, 581
24, 890
42, 652
23, 224
3
59, 538
30, 005
33, 471
22, 009
16
58, 109
35, 037
40, 149
21, 785
74
49, 790
35, 708
37, 587
38, 365
51
47,563
29,209
32, 381
28, 425
7
41,900
26, 104
49, 070
41, 141
15
55,400
27, 290
40, 607
44, 320
2
63,507
41, 331
44, 491
62, 470
4
69, 621
36, 553
40, 823
72, 193
3
54,812
39, 087
41, 811
38,214
13
68,082
160, 511
214, 298
11, 600
33, 693
4,785
17,004
41, 116
40, 880
30,507
179, 835
254, 457
10, 506
39, 494
4,235
18, 621
53,143
47, 992
34, 923
200, 431
225, 732
11.440
30, 066
4,527
15, 520
45,018
45, 501
35,383
196, 437
263, 456
14, 624
44, 766
6,094
18, 706
42, 745
56, 059
36, 779
185, 892
273, 337
12, 774
44, 648
10, 430
22,075
45, 465
56, 704
37, 759
195, 716
253, 772
11, 970
36, 902
8,963
16, 972
46, 374
52, 744
37,880
194, 519
253, 002
16, 320
44, 378
9,807
14,062
44, 816
44,095
34, 210
231, 956
320, 247
16,333
49, 196
16, 538
19,063
59, 630
58, 985
46,260
263, 422
310, 720
19, 010
45, 877
13, 277
22, 252
f 2, 862
60, 785
45, 523
255, 648
299, 956
20, 231
54, 528
16, 218
20, 674
40,760
60,585
38, 414
236,887
311, 836
24, 369
58, 470
16, 648
23, 745
42,502
60, 038
39, 534
750
*898
1893
1965
11,050
1958
1,060
11,264
1 1, 357
11,336
1 1, 279
141,600
56, 997
41, 500
84, 621
425, 515
175, 624
60,246
56, 099
102, 968
502, 797
164, 321
65, 980
53,168
97, 835
511, 630
173, 538
72, 109
53, 544
108, 003
562, 242
185, 765
80, 112
57, 121
117, 433
609, 161
146,860
79,206
56, 976
104, 770
570, 040
173, 870
114, 190
59, 106
109, 259
604,041
173,223
122, 980
76, 218
131, 405
757, 547
228, 638
163, 541
83, 254
134, 467
745, 071
204, 614
136, 659
71, 769
142, 139
781, 278
149, 362
134, 818
83, 979
153, 963
756, 527
199, 080
65, 970
12, 899
62, 012
13,120
252, 815
75, 730
18,351
72, 426
12, 907
233, 644
60, 389
17, 484
72, 004
14,013
266, 315
79, 581
14, 115
78, 102
12,840
301, 173
97, 918
15, 389
86, 674
17, 739
253, 072
70, 348
12, 484
89, 383
18, 452
307, 401
98, 935
13, 241
122, 218
19, 394
329, 889
83, 753
17, 917
129, 874
24, 981
419, 941
117, 761
14, 523
177, 276
29, 339
353, 391
94, 198
15, 920
136, 964
26, 585
310, 135
50, 660
16, 418
130, 592
23, 552
551, 153
1,781
62, 996
57, 396
5,293
34, 826
644, 919
3,821
62, 705
65, 713
5,339
38,021
659, 289
2,438
59, 169
61, 484
5,520
36,353
703, 121
2,672
71, 567
70, 184
5,884
39, 888
748, 419
1,357
70, 543
66, 713
10,361
39, 949
704, 781
1,313
78, 281
58, 105
4,491
46, 604
753, 064
1,320
87, 230
62, 961
8,221
42,007
931, 484
1,981
104, 869
78, 746
7,653
55,384
935, 030
1,850
107, 749
82, 562
9,500
48, 071
983, 069
1,007
108, 275
85, 856
7,091
50,173
968, 514
3,648
103, 150
93, 034
7,249
47,646
J
1
1
1, 186
1 1, 175
198, 175
Machinery, total cf§
do
197, 501
204, 169
160, 821
220, 982
245, 786
227, 388
248, 635
308,215
324, 143
318,016
280, 254
Agricultural cf
do
8,801
10, 859
9,807
5,984
7, 838
8,460
8,289
10, 437
13, 621
13, 017
12,584
13, 320
Tractors, parts, and accessories*§
do_. _
20, 411
16,341
18, 227
15, 272
19, 545
21, 996
24,064
21,503
31, 173
31, 765
28,508
25,160
Electricalcf.
do
- 28, 194
34, 558
26, 992
33, 166
38, 556
40, 263
39, 929
36, 139
45, 834
49, 239
47, 733
50, 931
Metal working
do. _. 15, 578
12, 857
19, 530
19, 800
16, 325
17, 237
15, 494
13, 577
16, 237
15, 687
17, 895
16, 928
72, 041
76, 212
75, 241
59, 543
Other industrial cf
-do
80, 790
88, 023
83, 131
79, 358
102, 417
98, 440
101, 172
97, 296
Petroleum and products
do
38, 144
40, 671
45, 665
47, 304
48, 530
53, 973
40, 332
39, 345
56, 163
63, 151
65, 059
60,974
Textiles and manufactures
do
38, 982
32, 069
45, 133
51, 414
52, 344
54, 366
58, 770
59, 471
85, 550
75, 649
79, 172
77, 546
' Revised, i Total exports and various component items include MDAP shipments as follows (mil. of dol.): July 1950-July 1951, respectively—47 0- 21 4- 31 2- 52 4- 53 9- 76 3' 51 8' 94 8' 96 782.6; 129.2; 112.8; 89.0. Beginning July 1950, certain items classed as "special category" exports, although included in total exports, are excluded from water-borne trade and from area and
country data.
JRevisions for various periods in 1947 and 1948 have been made (since publication of the 1949 STATISTICAL SUPPLEMENT) in most of the foreign-trade items and there will be further changes
beginning 1946 as final data are completed by the Bureau of the Census; moreover, the revaluation of tin imports and the transfer of certain "relief and charity" food items from the nonaericultural exports group to the agricultural group have affected the pertinent series back to 1942. Revisions will be shown later.
f Index base changed beginning with the October 1950 SURVEY. Data for 1913 and 1919-50 are shown on pp. 27 and 28 of the July 1951 SURVEY
9 Beginning July 1950, data for semimanufactures reported, as "special category, type 1" have been included with finished manufactures.
cfData beginning 1948 have been adjusted in accordance with the 1949 commodity classifications. Unpublished revisions (January-July 1948) are available upon request.
.Excludes "special category" exports not shown separately for security reasons.
*New series. Not separately available prior to 1948; included with agricultural machinery.
SUKVEY OF CURRENT BUSINESS
S-22
Unless otherwise stated, statistics through
1948 and descriptive notes are shown in the
1949 Statistical Supplement to the Survey
September 1951
1950
July
August
September
1951
October
November
December
January
February
March
April
May
June
July
893, 300
INTERNATIONAL TRANSACTIONS OF THE UNITED STATES—Continued
FOREIGN TRADE §—Continued
Value—Continued
General imports, total
thous. of doL. '708,964
By geographic regions:
33, 364
Africa
-do
r
Asia and Oceania
-do. _- p 150, 521
101, 085
Europe
-do
»• 163, 700
Northern North America
do
' 94, 536
Southern North America
- do
r
165, 758
South America
do
By leading countries:
Africa:
304
Egypt
do _
8,773
Union of South" Africa
-do
Asia and Oceania:
8,972
Australia, including New Guinea
-do
British Malaya
do. _. ••23,848
12,
159
China
. -- do
r
21, 899
India and Pakistan
do
13, 758
Japan
do__
10, 280
Indonesia
-do
19, 393
Republic of the Philippines
-do
Europe:
«• 8, 278
France
do
6,268
Germany
_
do_ __
6,590
Italy
do
4,300
Union of Soviet Socialist Republics
do
' 26, 416
United Kingdom
do
North and South America:
Canada, incl. Newfoundland and Labrador
' 163, 572
thous of dol
r
246, 076
Latin- American Republics, total-.
do
17, 432
Argentina
do
64, 998
Brazil
.
do
7,977
Chile
do
26,091
Colombia
do
34, 124
Cuba
do
'22,260
Mexico
do
«• 27, 225
Venezuela
- ......
do_Imports for consumption, total
do
By economic classes:
Crude materials
do. _.
Crude foodstuffs
do
Manufactured foodstuffs and beverages do __
Semimanufactures
do
Finished manufactures
_ - -do By principal commodities:
Agricultural products, total
do
Coffee
do
Hides and skins
—
- - do
Rubber, crude, including guayule.
do
Silk, unmanufactured
_ do
Sugar
do
Wool and mohair, unmanufactured
do _
Nonagricultural products, total
do
Furs and manufactures
do
Nonferrous ores, metals, and manufactures,
total
thous. of dol
Copper, incl. ore and manufactures__do
Tin, including ore
-- do
Paper base stocks
do
Newsprint
do
Petroleum and products
do
819, 481
857, 864
922, 004
851, 694
864, 105
1,022,077
906, 960 1, 099, 619 1, 024, 385 1,017,653
929, 869
39, 295
160, 086
120, 581
160, 379
119, 593
219, 547
63, 316
167, 384
136, 150
179, 020
97, 831
214, 162
39, 318
217, 060
162, 936
201,005
93, 729
207, 956
35,332
215, 443
166, 036
186, 366
86, 252
162, 264
55, 917
199, 742
156, 408
185, 695
91, 228
175, 115
55, 589
248, 983
180,538
184, 551
116, 409
236,007
44, 570
186, 905
173, 819
154,072
127, 442
220, 152
66, 867
267, 120
193, 877
190, 603
128, 920
252, 233
69, 466
262, 083
181, 774
191, 378
117, 700
201,983
76, 362
242, 527
189, 426
202, 221
99,760
207, 357
55, 828
236, 756
178, 116
192, 467
95, 493
171, 209
5,965
12, 225
19, 735
15, 543
235
16, 357
355
11, 363
3,268
17, 779
4,572
14, 830
486
15, 611
291
15, 896
19, 652
15, 036
12, 936
12,805
5,231
14, 363
9,883
30, 227
11, 746
21, 333
16, 744
15, 485
20, 622
9,593
24, 749
14,639
29, 883
18, 582
13, 875
21,026
5,546
31, 723
19, 647
33,022
21, 641
21,801
26,043
17, 099
39, 460
13, 767
27, 691
19, 792
20, 321
21, 347
19, 770
38, 230
16, 196
20, 254
17,617
23, 281
19, 348
12, 255
54, 828
12, 688
36, 775
17, 639
33, 603
21, 606
9,458
34, 089
5,700
27, 293
16, 650
18, 965
31,287
42, 114
38, 989
4,879
37, 549
20, 101
25, 550
29, 451
58, 336
35, 187
2,722
38,003
17, 360
19, 631
31, 181
62, 048
24, 378
2,886
32, 117
26, 809
19, 526
30, 339
49, 771
36, 315
2,062
36, 320
16, 563
18, 322
25, 512
12, 614
8,528
9,412
2,182
36, 380
13, 888
11, 136
10, 390
6,420
31, 473
15, 476
15, 162
16, 579
2,130
39, 085
19, 283
16, 152
13, 904
1,439
42, 580
21, 176
14, 734
11, 945
1,899
32, 758
24, 789
18, 090
13, 003
2,259
37, 269
24, 403
14, 257
12, 572
2,153
38,606
31, 525
18, 913
13, 590
1,338
37, 650
26, 305
18, 212
13, 411
2,207
43, 107
28, 006
21, 224
10,901
1,593
45, 768
21, 503
24, 264
12, 476
2,790
38, 669
160, 342
321,473
18, 624
83, 679
15, 070
42, 650
54, 253
26, 502
29, 824
178, 845
297, 200
17, 211
85, 034
14, 223
40, 474
42, 976
28, 716
26, 783
200, 804
283, 301
18, 138
82, 152
15, 613
38, 642
38,238
27, 247
28, 972
186, 356
230, 537
17, 392
68, 733
13, 534
22, 675
24, 143
31, 216
25, 078
185, 686
245, 665
13, 977
63, 046
19, 521
20, 605
18, 506
35, 124
24, 905
184, 421
330, 511
27, 157
85, 395
15, 341
35, 041
30, 822
31, 548
28, 834
153, 828
328, 939
25, 881
84, 856
16, 007
27,002
39, 915
29,646
26, 076
190, 578
363, 269
34, 749
100, 668
15, 400
27, 616
43, 546
32, 936
27, 002
191, 213
303, 305
32, 875
64, 452
27, 584
19,237
41, 214
28, 990
26, 038
202, 214
291, 467
29, 975
68, 564
22,004
27, 162
33, 026
26, 464
30, 792
192, 316
250, 704
16, 805
64, 596
15, 558
26, 894
34, 073
23, 974
27, 332
' 702, 029
817, 771
824, 319
913, 535
841,014
856, 668
1,016,795
906,443 1, 033, 994
956, 735
945, 784
914, 314
' 184, 503
r
154, 909
83, 114
r
162, 700
' 116, 803
222, 891
181, 499
103, 782
184, 146
125, 453
224, 467
179, 484
88, 151
196, 600
135, 617
255, 478
172, 039
87, 431
239, 423
159, 164
254, 801
142, 245
73, 251
214, 670
156, 048
269, 943
148 150
63, 637
228, 064
146, 875
330, 604
207, 212
77, 052
238, 583
163, 343
282, 993
201,301
86, 132
199, 906
136, 112
311, 267
233, 869
92, 968
225, 746
170, 145
330, 569
159, 212
89, 477
214, 050
163, 428
295, 277
171, 290
91, 453
213, 285
174, 478
299, 358
147, 244
92,380
216, 863
158, 470
' 332, 039
105, 153
11,664
29, 994
1,706
34, 213
39, 247
' 369, 990
8,308
410, 125
130, 836
12,481
39, 824
1,249
53, 309
46, 864
407, 646
6,281
393, 070
128, 376
10, 598
41, 109
2,571
40, 156
36, 757
431, 249
13, 689
405, 193
112, 567
12, 968
58, 922
3,159
35,033
33. 394
508, 343
14, 279
363, 730
88, 085
11, 418
68, 370
2,521
17, 494
38, 936
477, 284
9,313
356, 298
84 083
8,444
71, 309
2,020
14, 564
38 250
500, 370
11 032
507,460
142, 648
11, 454
101, 076
2,102
29, 381
66, 291
509, 335
14, 130
476, 223
139, 327
8,516
63, 447
1,838
41,017
53, 692
430, 220
10, 258
538, 646
152, 933
10, 728
74, 345
2,081
40, 491
84, 903
495, 348
11, 769
470, 002
96, 645
10, 918
65, 026
1,626
39, 717
104, 779
486, 734
16, 565
452, 311
100, 701
13, 022
51, 853
1,216
33, 985
84, 660
493, 473
8,534
427, 203
90, 223
13, 370
69, 369
1,287
32, 399
70, 602
487, 112
8,913
'
63, 772
r
12, 480
' 21, 187
20, 830
38, 410
r
45, 956
76, 417
14, 598
24, 016
21, 577
34, 066
50, 255
68, 044
16, 649
17, 413
23, 073
38, 933
47, 790
88, 887
29, 633
19, 788
26, 335
42, 000
55, 338
79, 044
19, 744
15, 243
27, 974
37, 142
50, 736
104, 726
28, 118
19, 158
27, 808
41, 058
53, 950
91, 740
23, 466
27, 066
32, 313
39, 742
59, 661
61,194
22, 662
15, 443
30, 808
32, 942
50, 307
76, 057
17, 952
23, 219
30, 773
44, 222
50, 246
69, 182
21,909
13, 297
29, 166
39, 287
51, 259
57, 303
23,230
8,002
38, 588
43, 525
52, 415
71, 736
24, 458
12, 930
44, 995
42, 025
52, 714
29, 085
18, 111
11, 287
4,541
1,708
834, 685
30, 813
19, 085
11,903
5,035
1,804
859, 130
29, 318
17, 173
10, 327
4,805
1,866
922, 856
18, 769
24
18 895
6
17 d852
10.
4818
r
1, 105
10. 5231
1,117
10.5231
1,048
10. 5645
989
3,152
546
61
193
198
34
216
324
1,580
3,233
537
65
197
178
33
330
309
1,582
4,039
710
83
241
216
34
452
366
1,937
2 992
444
63
168
212
27
356
268
1,454
885, 900
TRANSPORTATION AND COMMUNICATIONS
TR AN SPORTATION
Airlines
Operations on scheduled airlines:
28,860
28, 552
28, 778
27, 564
26, 067
28, 445
25, 316
29, 780
27, 926
Miles flown, revenue
thousands
25, 489
18, 134
21, 776
22, 780
22, 540
25, 014
21, 182
21, 662
19, 758
Express and freight carried
_
short tons
13, 672
15, 171
11, 654
13, 707
13, 918
14, 892
12 258
13, 087
13, 620
Express and freight ton-miles flown thousands
3,252
3,775
3,762
4,245
4,112
4,704
6,232
4,463
5,124
Mail ton -miles
flown
_ _
__ do _
1,459
1,562
1,490
1,563
1,326
1,324
1,421
1,365
1,660
Passengers carried, revenue
- do
749, 845
719, 494
735, 180
723, 803
620, 156
684, 444
722, 163
663, 767
835, 920
Passenger-miles flown revenue
do
Express Operations
17, 318
17, 226
17,647
17, 697
18, 312
18, 294
21,890
Operating revenues
thous of dol
18 007
19 377
223
176
189
194
Operating income
do
178
195
61
39
80
Local Transit Lines
10. 0341
10.
0608
10. 0827
10. 1630
10. 1995
9. 9708
10.
2360
Fares, average cash rate
cents__
10.
2676
10.
4185
r
r
r
r
T
r
"1,045
' 1, 090
1, 101
' 1, 173
1, 128
1, 185
1,157
1, 045
Passengers carried, revenue©
millions-1, 173
121, 600
114, 300
113,000
125, 300
125, 800
123, 100
137, 200
Operating revenues!
thous. of dol
117, 100
Class I Steam Railways
Freight carloadings (A. A. R.):c?
3,374
3,240
3,018
3,531
3,009
4,220
3,629
Total cars
thousands
2,700
3,785
599
469
787
657
742
Coal
do
617
632
546
689
63
59
64
58
75
Coke _- __
___
do
75
64
61
81
202
182
176
191
239
218
•
187
164
Forest products
do __
229
222
223
215
225
256
246
214
Grain and grain products
___do
182
247
Livestock
_
do
50
26
31
62
66
49
38
24
35
301
329
324
223
96
Ore
,..
do .
409
68
65
101
354
352
306
332
438
308
284
Merchandise, 1. c. 1
do
380
425
1,574
1,569
1,814
1,433
1,963
1,673
1,498
Miscellaneous
do
1,373
1,979
r
Revised.
d Deficit.
§See note marked "J" on p. S-21.
JRevisions for January 1947-May 1948 appear in corresponding note on p. S-22 of the August 1949 SURVEY.
cf Data for September and December 1950 and March and June 1951 are for 5 weeks; other months, 4 weeks.
©Revisions for January-April 1950 (millions): 1,211; 1,119; 1,254; 1,188, respectively.
18
SURVEY OF CURRENT BUSINESS
September 1951
S-23
1950
Unless otherwise stated, statistics through
1948 and descriptive notes are shown in the
1949 Statistical Supplement to the Survey
July
August
Septem-
1951
October
November
December
January
February
March
April
May
June
July
TRANSPORTATION AND COMMUNICATIONS—Continued
TRANSPORTATION—Continued
Class I Steam Railways—Continued
Freight carloadings (Federal Reserve indexes) :
Total, unadjusted
1935-39=100..
Coal
do
Coke _
do
Forest products _ _ _ _ _ _
do
Grain and grain products
___do
Livestock.
_
do
Ore _ _
do
Merchandise, 1. c. 1
__do
Miscellaneous _
do
Total, adjusted
do
Coal
__ _
do
Coke
do
Forest products
do
Grain and grain products
do__
Livestock
do
Ore
do
Merchandise, 1. c. 1
do
Miscellaneous
__ __do
Freight-car surplus and shortage, daily average:
Car surplus, total
number
Boxcars
do
Coal cars
do
Car shortage, total.. _
do
Box cars _ _
do
Coal cars...
do
Financial operations (unadjusted):
Operating revenues, total
thous. of dol__
Freight
do
Passenger
do
Operating expenses
do.
Tax accruals, joint facility and equipment rents
thous. of dol__
Net railway operating income
do
Net income J
do
Financial operations, adjusted:
Operating revenues, total
mil of dol
Freight.
do
Passenger
do
Railway expenses
do
Net railway operating income
do
Net income. _
do
Operating results:
Freight carried 1 mile
mil. of ton-miles
Revenue per ton-mile
_
cents
Passengers carried 1 mile, revenue
millions
r
130
105
190
149
162
48
298
51
141
126
105
195
148
135
61
186
51
140
140
126
186
163
150
57
285
56
149
135
126
194
155
139
60
190
56
147
145
135
198
160
143
95
298
57
154
134
135
201
148
128
72
198
55
142
147
135
201
154
159
116
262
56
158
136
135
206
146
159
75
184
54
145
139
126
198
154
162
90
188
54
152
136
126
198
157
166
72
184
53
146
130
129
204
145
148
70
62
50
142
140
129
194
162
158
72
199
52
151
133
133
209
153
153
66
61
50
145
146
133
199
170
153
69
243
52
158
119
114
197
137
131
44
60
46
133
129
114
186
143
134
55
241
48
141
130
112
204
147
138
49
70
54
149
139
112
202
147
150
62
241
53
157
133
112
193
156
139
61
193
51
149
136
112
197
156
158
68
212
51
151
135
111
208
160
124
57
296
48
149
133
111
210
154
141
64
212
48
148
137
120
212
158
125
49
321
47
148
131
120
217
152
123
'61
207
47
144
130
97
209
143
156
50
325
44
143
125
97
215
143
130
61
203
45
142
8,311
234
4,389
21, 154
13, 875
6,103
4,346
16
39
38, 064
21, 846
14, 101
3,583
8
30
34, 381
19, 444
13, 243
2,405
9
113
35, 135
19, 620
14, 349
4,926
432
386
24, 696
13, 838
10, 245
6,258
956
975
14, 798
8,998
4,989
5,677
705
1,138
19, 267
12, 006
6,528
2,680
87
572
29, 977
19, 449
8,518
2,387
7
724
32, 365
24, 275
5,323
8,601
24
2,812
14, 603
9,484
3,815
8,300
1,203
434
9,858
4,760
3,929
21, 677
15, 463
133
9,721
3,065
5,641
28, 062
13, 109
11, 928
8,613
2,716
4,873
772, 161
639, 729
76,006
579, 116
889, 796
748, 110
78, 220
626, 265
872, 032
725, 014
71, 623
600, 697
925, 383
784, 544
66, 271
635, 021
862, 201
710, 808
65, 885
618, 611
927, 930
673, 554
79, 271
645, 422
848, 729
709, 736
78, 158
645, 246
715, 759
600,157
63,836
610,060
875, 475
741, 001
70, 569
679, 662
851, 445
722, 012
66, 762
668, 850
888, 716
752, 588
70, 657
693, 820
855, 753
710, 732
80,641
677, 685
816, 812
674, 008
80, 602
683, 824
108, 887
' 84, 157
58, 622
141, 467
122, 064
95, 829
148, 712
122, 622
98 965
155, 733
134, 629
107, 863
133, 590
110, 001
86, 146
169, 190
113,319
120, 060
125, 792
77, 691
54, 926
86, 740
18, 959
S, 518
117, 550
78, 263
51, 187
112, 000
70, 595
44, 685
119, 977
74, 937
49, 225
114, 138
63, 930
50, 192
'91,053
41, 935
771.9
646.1
69.7
685.9
86.1
54.1
832.5
699.2
69.8
744.3
88.2
54.8
857 6
711.1
71 9
749 1
108 5
72 8
884.6
747.2
67.7
776.2
108.4
74.3
863.0
710.8
68.9
759.8
103.2
70.5
941.0
708.3
77.8
849.4
91.6
59.5
863.5
720.0
81.6
765.8
97.7
65.7
783 4
653.6
70 7
742 5
40 9
10.9
854.2
716.8
71 4
783.1
71 1
38.9
872.7
738.6
69.1
799.7
73.1
40.7
855.1
719.1
71.5
793.5
61.6
P
30.2
871.3
728.5
77.9
795.4
75.9
?44. 5
51, 982
1.305
3,042
59, 403
1.325
3,125
57, 940
1.320
2,818
62, 017
1.332
2,573
54, 817
1.363
2,500
54, 608
1.310
3,058
56, 510
1.319
3,003
48, 367
1.308
2,415
59, 069
1.325
2,718
56, 908
1.337
2,583
58, 764
1.342
2,638
56, 643
1.323
3,093
7,647
4,648
2,999
8,559
5,308
3,251
8,402
5,135
3,267
8,220
5,165
3,055
7,364
4,320
3,044
7,244
4,207
3,037
6,516
4,019
2,497
6,860
4,216
2,644
8,250
4,660
3,590
9,299
5,216
4,083
10, 161
5,980
4,181
10, 060
5,725
4,334
2,857
1,668
2,452
1,477
2,356
1,307
2,478
1,157
2,236
1,074
2,216
1,011
2,338
1,104
2,433
1,032
2,713
1,237
2,668
1,360
2,695
1,286
2,632
1,170
2,599
1,280
6.13
81
231
5.98
84
232
6.17
86
228
6.27
79
225
5.78
66
208
5.95
79
228
5.97
81
224
5.83
78
214
6.36
82
244
5.79
81
251
6.32
81
252
6.03
75
219
88, 706
44, 776
2,468
15, 452
13,827
1,474
59, 768
1 36, 058
2,075
14,090
12, 734
833
46, 242
i 31, 869
1,599
16, 288
12, 115
326
44, 810
i 39, 453
2,283
20, 263
10, 614
242
52,209
1 48, 561
1
v 18, 519
16, 632
256
* 12, 395
17,067
259
J> 15, 281
26, 113
376
v 14, 542
30, 227
541
v 17, 914
35, 678
920
v 23, 193
39, 653
2,107
27,411
3,560
930
8,444
936
8,513
955
8,658
871
7,905
947
8,608
1,222
11, 151
823
8,666
883
9,264
805
8,500
766
8,075
850
10, 363
289, 528
169, 124
100, 646
205, 664
41, 489
37, 441
300, 617
172, 540
108, 189
211, 798
35, 337
37, 620
292, 847
173, 265
99, 290
205, 109
39, 584
37, 790
303, 234
178, 120
104, 346
212, 572
41, 369
37, 987
298, 071
178, 184
98, 941
208, 249
40, 861
38, 166
311, 414
181, 781
107, 994
222, 491
40, 921
38, 437
314, 713
184, 531
108, 897
219, 140
41, 025
38, 619
301, 961
181 037
99, 495
209, 150
39, 475
38, 803
319, 021
185 045
111, 979
222, 296
41, 444
39, 029
312, 404
184, 934
105, 507
216, 413
41, 242
39, 213
318, 790
185, 965
110, 775
226, 647
40, 391
39, 406
14, 738
13, 272
671
16, 022
13, 716
1,525
15, 041
13, 364
940
15, 531
13, 358
1,461
15, 251
13, 439
1,135
16, 643
14, 506
1,485
15 610
13, 855
880
14 545
12, 924
764
16 391
13, 996
1,521
15 014
13, 282
882
16 235
14, 199
1,157
16 072
14, 033
1,173
2,189
1,563
418
2, 295
1,581
510
2,254
1,553
507
2,265
1,569
494
2,232
1,470
590
2,638
1,691
672
2 508
1,650
616
2 180
1,642
337
2 326
1,683
427
2 215
1,638
364
2 227
1,736
267
2 149
1,693
241
2,228
1,808
325
2,408
1,795
525
2,244
1,819
335
2,331
1,787
453
2,326
1,804
437
2,583
2,057
453
2,621
1,959
548
2,302
1,838
350
2 476
1,954
409
2 350
1,895
332
2 491
1,968
394
2 456
1,982
347
d
Waterway Traffic
Clearances, vessels in foreign trade:
Total TJ. S. ports
thous of net tons
Foreign
do
United States
do
Panama Canal:
Total
thous. of long tons
In United States vessels
do
Travel
Hotels:
5.43
Average sale per occupied room
dollars _ .
77
Rooms occupied.
percent of total
207
Restaurant sales index
same month 1929=100..
Foreign travel:
78,030
U. S. citizens, arrivals
number
1 80, 854
U. S. citizens, departures
__
do
3,803
Emigrants
_
do
17, 905
Immigrants
_
do
21,
635
Passports issued
do
3,271
National parks, visitors
thousands
Pullman Co.:
850
Revenue passenger-miles
millions
7,826
Passenger revenues
.thous. of dol
96, 425
i 61, 804
2,921
18, 575
18, 037
3,300
1
59, 093
57, 074
1
63 969
64, 845
60, 854
i 57, 982
COMMUNICATION S
Telephone carriersrf
Operating revenues
thous. of dol
Station revenues
do
Tolls, message
do
Operating expenses, before taxes
do
Net operating income
do
Phones in service, end of month .
thousands
Telegraph, cable, and radiotelegraph carriers:
Wire-telegraph :
Operating revenues
thous of dol
Opera ting expenses, incl. depreciation
do
Net opera ting re venues
do
Ocean-cable:
Operating revenues
do
Operating expenses, incl. depreciation
do
Net operating re venues
do.
Radiotelegraph :
Operating re venues ._
do...
Operating expenses, incl. depreciation
do
Net operating re venues
...do...
r
d
Revised.
» Preliminary.
Deficit.
{Revised data for June 1950, $72,086,000.
i Data exclude departures via international land borders; land-border departures during the 12 months ended June 1950 amounted to less than 1 percent of total departures.
fRe vised series. The coverage has been reduced from 100-120 to 55 carriers (except for January 1948-December 1949 when data covered 53 carriers); however, the comparability of the series,
based on annual operating revenues, has been affected by less than 3.0 percent. Also, data are now shown after elimination of intercompany duplications for the Bell System"; annual data
prior to 1948 and monthly figures for January-July 1948 on the revised basis will be available later. Data relate to continental United States.
SUKVEY OF CUERENT BUSINESS
S-24
•Unless otherwise stated, statistics through
1948 and descriptive notes are shown in the
1949 Statistical Supplement to the Survey
September 1951
1951
1950
August
July
September
October
November
December
January
February
March
April
May
June
CHEMICALS AND ALLIED PRODUCTS
CHEMICALS
Inorganic chemicals, production:
Ammonia, synthetic anhydrous (commercial)
short tons__ 125, 027 124, 617
8,920
10, 274
Calcium arsenate (commercial)
thous. of lb__
55, 237
52,388
Calcium carbide (commercial)
short tons._
Carbon dioxide, liquid, gas, and solidj
thous. of lb__ 139, 130 133, 728
Chlorine, gas
short tons _ 173, 788 173, 117
51, 521
51, 288
Hydrochloric acid" (100% H Cl) J
do
Lead arsenate (acid and basic)
thous. of lb__
0)
0)
Nitric acid (100% HNOs)
short tons... 105, 831 105, 206
1,512
1, 400
Oxygen (high puritv)t
mil. of cu. ft
Phosphoric acid (50% HsPO^
short tons.. 141, 107 136, 187
Soda ash, ammonia-soda process (98-100%
185, 885 180, 849
Na2Cos)
short tons
5,649
5,492
Sodium bichromate and chromate... d o _ _
iSodium hydroxide (100% NaOH)
do
0)
0)
Sodium silicate, soluble silicate glass (anhy32, 278
29,929
drous)
_
short tons
Sodium sulfate, Glauber's salt and crude salt
61, 820
54, 725
cake
short tons
Sulphuric acid (100% H2SO4):
Production:}:
. ...
do 1, 047, 544 1, 051, 694
Price, wholesale, 66°, tanks, at works
17.75
17.75
dol. per short ton. .
Organic chemicals:
Acetic acid (synthetic and natural), production
41, 593
39, 520
thous. of l b _ _
83, 012
80, 743
Acetic anhydride, production
do
1,080
672
Acetvlsalicylic acid (aspirin), production do
Alcohol, denatured:
17, 733
18, 719
Production.
thous. of wine gal
Consiirnption (withdrawals)
do
' 18, 205 17, 120
3,199
2,611
Stocks
do
Alcohol, ethyl:
33, 098
31, 727
Production
thous. of proof gal
24, 580
«•r 21, 830
Stocks, total
do
23, 886
20, 700
In industrial alcohol bonded warehouses -do
694
1,130
In denaturing plants.
do
27, 870
Withdrawn for denaturation.
__
do
33, 018
6,928
Withdrawn tax-paid- _
do
4,986
11, 510
Creosote oil, production
.thous. of gal..
10, 929
7,737
Ethyl acetate (85%), production
thous. of lb_.
5,646
Glycerin, refined (100% basis):
High gravity and yellow distilled:
7,419
4,822
Production
thous of Ib
8,581
7, 239
Consumption
do _
12, 297
13, 518
Stocks
do
Chemically pure:
12, 262
Production
do
7,430
9,007
7,399
Consumption
do
17, 787
18, 444
Stocks
do
Methanol, production:
184
167
Natural (100%)
thous. of gal
11, 395
11, 125
Synthetic (100%)
do
Phthalic anhydride, production __ .thous. of lb__
18, 367
17, 615
128,596
2,850
55, 323
136, 736
3,390
57, 436
141. 373
3, 140
54, 320
146, 280
2,614
58, 770
148, 931
3,900
61, 961
133, 871
4,352
50, 035
147, 289
5,342
60,225
147, 560
6,566
62, 557
146, 915
6,196
65, 310
132, 158
6,792
64, 514
146, 592
4,092
65, 421
107, 708
165, 828
52, 785
2,196
107, 210
1, 529
131, 302
94, 156
187, 666
58, 492
2,924
119, 661
1,666
142, 103
82, 902
185, 537
57, 893
3, 598
124, 376
1,647
142, 534
73, 546
192, 604
57, 389
4,632
133, 483
1,703
132, 912
73, 542
197, 967
57, 410
5,114
133, 264
1,742
151, 187
67, 076
182, 994
50, 944
5, 082
116, 122
1, 542
141, 496
86, 012
207, 106
57, 467
4,672
125, 732
1,819
163, 673
112, 008
200, 298
57, 043
2, 670
118,132
1,812
152, 577
144,006
209, 024
58, 461
1,838
115, 286
r
1, 863
r
157, 086
142, 232
202, 693
57, 072
318
115, 398
1,748
T
147, 392
152, 704
210, 477
57, 111
(0
124, 319
1,738
152, 114
170, 142
7,418
0)
334, 296
8,424
0)
370. 649
8,577
233, 284
443, 706
9,670
244, 883
445, 389
10, 170
248, 449
402, 517
9,936
227, 178
461, 412
12, 171
258, 596
439, 773
11,321
252, 169
458, 217
11, 858
262, 881
434, 399
11,011
252, 282
434, 892
9,888
256, 713
37, 707
47, 317
55, 544
54, 708
56, 300
51, 485
53, 338
45, 132
47, 602
77, 157
75, 882
80, 924
75, 296
75, 267
79, 517
77, 452
83, 339
70, 333
r
r
r
r
41, 210
35, 730
81, 196
72, 396
1,057,851 1, 137, 367 1, 121, 357 1, 183, 514 1,162,351 1,051,004 1, 172, 100 1, 133, 353 1, 151, 068 1, 066, 421 1, 077, 216
17.75
19.33
19.85
19.97
20.00
20.00
20.00
20.00
20.00
20.00
38, 300
77, 963
1,116
42, 476
77, 364
1,081
40, 218
78, 221
885
36, 352
79, 462
766
41, 321
82, 240
967
36, 941
70, 155
1,090
43, 069
85, 553
1,013
42, 176
84, 358
1,078
' 43, 224
88, 816
1,283
39, 458
82, 968
1,007
16, 708
18, 474
1,467
19, 273
18, 727
2,012
16,582
16, 861
1,744
21, 265
19, 888
3,118
17, 839
19, 340
1,604
16, 288
16,340
1,533
21, 440
20, 448
2,517
28, 198
22, 002
8,713
28, 063
29, 184
8,944
23, 322
23, 944
8,793
23, 348
22, 381
9,762
37, 391
29, 432
29, 088
344
26, 611
3,660
11,407
7,922
40, 910
36, 597
35, 979
619
31, 151
3,422
11, 756
8,168
35, 256
44, 066
42, 735
1,331
23, 813
3,877
11, 747
7,824
34, 763
44,010
43, 251
759
20,910
3,035
13, 373
7,665
41, 466
54, 761
52, 075
2.686
22, 941
5,080
11,851
11, 749
34, 721
59,641
57, 299
2,342
22, 876
3,881
11. 668
7,861
35, 629
65, 962
59, 548
6,414
31;, 340
2,937
12, 997
9,307
37, 740
71, 001
62, 087
8,914
30, 922
2,051
12, 971
10, 463
46, 179
91, 085
72, 221
18, 864
36, 180
1,719
12, 708
9,235
35, 767
99, 683
74, 411
25, 272
31,628
1,161
11, 822
7,315
35, 563
101, 244
76, 190
24, 054
30, 697
2,258
7,631
8,007
12, 855
8,222
8,850
13, 070
8,821
8,994
14, 180
8,829
8,257
15, 983
8,450
8,038
17, 646
7,753
7,629
17, 204
8,635
7,591
18, 644
7,603
7,541
18, 820
7,882
8,211
19, 026
6,314
7,173
18, 664
3,661
6,405
17, 297
12, 098
8,450
18, 172
13, 435
8,363
19, 368
11,827
8,246
19,115
12, 968
7,961
20, 132
14, 199
8,774
21, 920
13, 499
7,687
23, 580
14, 326
8,423
26,046
13, 299
7,473
27,411
11, 098
8,263
27, 399
10, 575
7,003
27, 787
6,970
6,324
24, 914
183
12, 984
19,031
177
12, 308
19, 902
182
13, 474
18, 237
162
14, 621
20, 250
170
15, 615
19, 839
156
13, 200
19, 035
174
15, 349
22, 114
160
15, 278
21, 437
159
14, 614
21, 141
180
14, 759
19, 678
182
20.00
FERTILIZERS
Consumption (14 States)f
thous. of short tons..
Exports, total
_ .. ..short tons..
Nitrogenous materials _._ _
_
do
Phosphate materials
do
Potash materials
_
do
Imports, total..
. __
._ _do
Nitrogenous materials, total
_ do
Nitrate of soda
do
Phosphate materials _
_ do__
Potash materials
do
Price, wholesale, nitrate of soda, crude, f. o. b. cars,
port warehouses
dol. per short ton..
Potash deliveries
short tons..
Superphosphate (bulk) :
Production
..
do
Stocks end of month
do
325
250, 642
90,482
141, 469
10, 989
50, 974
37, 835
1,110
3,298
2,518
385
226, 631
83, 193
129, 904
7,095
70, 484
54, 762
7,990
7,153
3,407
551
283, 942
50, 081
213, 503
12, 741
129, 288
104, 447
51, 717
11, 496
3, 365
598
189, 531
34, 229
139, 759
11, 984
199, 190
147, 304
70, 666
4,542
33, 814
737
206, 658
31, 506
148, 979
9,626
154,905
97, 106
34, 134
5,503
43, 723
r
845
145, 250
28, 470
77, 061
8,889
167, 832
123, 172
50, 064
9,187
29, 343
2 1, 523
161, 690
15, 907
136, 398
6,496
215, 934
143, 421
54, 690
5,296
58, 309
2
1, 308
151, 354
16, 181
117, 286
8,846
230, 892
128, 087
58, 676
7,786
77, 413
2
1, 622
209, 649
15, 430
177, 554
8,399
259, 450
165, 929
74, 451
12, 034
63, 701
2
1, 407
244, 818
17, 176
201, 917
13, 407
344, 573
212, 781
94, 291
8,918
31, 105
2
994
285, 768
29, 032
238, 165
7,286
282, 314
214, 588
86, 037
7,936
23, 122
2
509
217, 760
23, 433
176. 300
8,812
216, 247
137, 981
74, 874
14, 594
43, 449
51.50
97, 301
51.50
107, 056
51.50
114, 710
51.50
114, 210
51.50
113, 400
51.50
125, 316
53.50
121, 153
53.50
105, 636
53.50
128, 661
53.50
115, 369
53.50
110, 777
53.50
101, 663
732, 499
1,313,007
866, 723
1,250,575
876, 023
1,224,030
953, 689
1,157,052
948, 923
1,150,886
53.50
106, 134
974, 544
985, 805
968, 233 1. 107, 048 1, 052, 257 1,031,919 r 872, 133
819, 254
1,207,228 1,194,507 1, 125, 418
832, 185
953, 785
918, 991 1, 093, 308 1, 229, 296
NAVAL STORES
Rosin (gum and wood) :
Production, quarterly total
drums (5201b.)._
594, 250
542, 770
433, 180
569 450
Stocks, end of quarter. __
do _
873, 340
711, 430
558, 580
601 000
Price, gum, wholesale. "WG" grade (Sav.), bulk*
6.11
7.26
5.59
dol. perlOOlb..
8.27
6.61
8.43
8.90
8.90
8.90
8.90
8.90
8.90
8.23
Turpentine (gum and wood) :
194, 050
Production, quarterly total.
bbl. (50gal.)_.
171, 260
141, 200
193, 220
151, 430
Stocks, end of quarter
do
159, 820
128, 760
152, 490
.~71~
.64 "
.46
Price, gum, wholesale (Savannah)__dol. per gal__
.87
.11"
.80
.87
.92
.92
.92
.79
.78
.73
r
2
Revised.
1 Not available for publication.
Excludes data for Virginia; effective January 1951, this State will report quarterly (January-March 1951 figure for Virginia 296 000 short
tons).
{Figures are not strictly comparable with those prior to 1948 because of the inclusion of data for additional plants. For January 1948-May 1949 revisions including
s data for these
plants, see note at bottom of p. S-25 of the August 1950 SURVEY.
fRevised series. Beginning in the January 1950 SUKVEY, data for fertilizer consumption in 14 States have been substituted for the 13-States series formerly shown; revised figures prior
to November 1948 will be shown later.
*New series. The series for rosin "WG" (window glass) grade, which is compiled by the U. 8. Department of Labor beginning November 1948, and prior to that month by the Oil, Paint,
and Drug Reporter, has been substituted for the "H" grade formerly shown. Data beginning 1935 are shown on p. 24 of the September 1950 SURVEY.
SURVEY OF CURRENT BUSINESS
September 1951
Unless otherwise stated, statistics through
1948 and descriptive notes are shown in the
1949 Statistical Supplement to the Survey
S-25
1951
1950
July
August
September
October
November
December
January
February
March
April
May
June
743
63,285
60, 687
July
CHEMICALS AND ALLIED PRODUCTS—Continued
MISCELLANEOUS
Explosives (industrial), shipments:
Black blasting powder
High explosives
Sulfur:
Production
Stocks
thous. of Ib
_ _ do
1,235
55, 128
1,837
68,581
1,912
60,822
2,057
64, 557
1,626
59, 724
1,772
51, 896
1,955
56, 378
1,407
49, 211
936
985
59, 128
54, 277
787
768
56, 451
440, 262
421, 116
424, 269
436, 612
452, 060
446, 245
419, 312
435, 290
458, 025
438, 843
409, 377
longtons__ 466,063
453, 685
2, 975, 927 2, 935, 503 2, 853, 688 2, 822, 913 2, 762, 528 2, 654, 530 2, 736, 188 2, 759, 837 2, 796, 784 2, 750, 305 2, 711, 267 2, 719, 821 2, 669, 635
do
FATS, OILS, OILSEEDS, AND
BYPRODUCTS
Animal fats, greases, and oils:
Animal fats:
Production
thous. of Ib _ 255, 357
74, 577
Consumption, factory _
do
346, 257
Stocks, end of month"
do
Greases:
45, 750
Production
do
30, 615
Consumption factory
do
118, 590
Stocks, end of month
__ __ do
Fish oils:
23, 113
Production
do
14, 401
Consumption, factory
do
i 49, 440
Stocks, end of month
do
Vegetable oils, oilseeds, and byproducts:
Vegetable oils, total:
Prodn^tion, oriirlft
mil. n f l b
368
330
Consumption crude factory
do
Stocks, end of month:
1787
Crude
do
297
Refined
do
32, 421
Exportsf
thous. of lb_.
33, 922
Imports, total
do
9,988
Paint oils.,
do
23,934
All other vegetable oils
do
Copra:
21, 050
Consumption, factory
short tons__
16, 295
Stocks, end of month
do
36,449
Imports __
do
Coconut or copra oil:
Production:
26,668
Crude
thous. of Ib
20, 727
Refined _.
do
Consumption, factory:
35, 324
Crude
__
do
17, 639
Refined
do
Stocks, end of month:
Crude
do
0)
7,968
Refined _
__do .
4,767
Imports
do
Cottonseed:
128
Receipts at mills
thous. of short tons_178
Consumption (crush)
_
__do _
285
Stocks at mills, end of month
do
Cottonseed cake and meal:
80,
988
Production
short tons
Stocks at mills, end of month
_ . do „ 136, 002
Cottonseed oil, crude:
57, 790
Production
thous. of Ib
47, 667
Stocks, end of month. _
do
Cottonseed oil, refined:
59, 523
Production
do
118, 382
Consumption, factory
-do
2
41,
698
In oleomargarine
do
167, 553
Stocks, end of month
_
do
Price, wholesale, summer, yellow, prime (N. Y.)
.176
dol. perlb_.
Flaxseed:
Production (crop estimate)
thous. of bu
Oil mills:
4,119
Consumption
_
do
2,195
Stocks, end of month
do
0
Imports
do
3.84
Price, wholesale, No. 1 (Minn.)
dol. per bu__
Linseed oil:
Production
thous. of lb__
82, 216
Consumption, factory
do
50, 031
569, 973
Stocks at factory, end of month
do
Price, wholesale (N. Y.)
dol. perlb__
.187
Soybeans:
Production (crop estimate)
thous. of bu__
Consumption, factory. _
do
15, 637
Stocks, end of month
do
19, 315
Soybean oil:
Production:
Crude
thous of Ib
159 261
Refined
do
109, 087
Consumption, factory, refined
._ do
100, 548
Stocks, end of month:
Crude
do
104, 423
Refined
do
73, 394
.174
Price, wholesale, edible (N. Y.)...dol. perlb..
272, 295
130, 289
297, 756
260, 795
127, 332
240, 930
300, 360
129, 658
221, 073
354, 641
119, 095
246, 609
393, 136
147, 760
274, 271
411,375
155, 320
322, 583
286, 747
145, 597
302, 854
318, 211
148, 635
266, 213
308, 408
117, 406
261, 037
326, 209
117, 213
266, 198
308, 257
101,144
273, 326
281, 284
72, 754
277, 129
52, 262
46, 388
110, 950
50, 521
50, 402
94, 200
53, 751
58, 114
86, 676
58, 895
47, 615
82, 816
60,254
63, 567
92, 536
60, 830
67, 535
99, 139
51, 119
58, 455
88, 661
51, 696
55, 344
82, 568
48, 086
47, 750
86, 779
54, 892
48, 118
94, 507
52, 630
40, 841
101, 780
47, 222
28, 110
113, 378
24, 486
18, 145
l 59, 821
22, 517
18, 152
1 75, 917
22, 961
20, 467
168,503
11, 247
17, 025
i 69, 024
381
456
431
430
560
497
571
523
1736
1826
1
4, 519
10, 006
16, 988
15, 301
72, 207 i 64, 635
1
1
1884
216
i960
269
40, 406
65, 112
19,834
45, 277
41, 546
46, 535
12, 406
34, 129
63, 350
55, 328
11, 048
44, 280
33, 189
56, 214
8,976
47, 238
37, 356
14, 968
43, 286
40, 929
16, 417
52, 213
45, 619
17, 740
52, 841
35, 393
27, 890
55, 996
31, 828
27, 851
38, 743
48, 420
30, 529
53,167
30, 744
60, 334
33, 316
46, 555
26, 559
53, 311
28, 798
52, 888
27, 246
56, 479
28, 553
47, 343
23, 262
6,286
9,586
i 44, 709
6,975
9,390
i 61, 989
8,962
24, 248
i 64, 536
10, 276
11, 536
220
228
276
600
404
472
1,123
621
974
1,202
104, 675
121, 179
180, 934
153, 478
276, 465
214, 226
72, 730
43, 033
121, 808
63,370
78, 244
155, 135
2 35, 496
97, 930
.196
0)
11, 543
i 45, 921
9,189
10, 443
i 62, 053
19, 082
10, 194
i 79, 494
25, 463
8,925
i 75, 111
474
484
501
517
428
434
420
398
371
342
328
277
*1 026
550
542
545
470
47, 330
62, 848
15, 022
47, 827
214
17, 627
52, 839
14, 530
38, 309
13, 634
i 54, 817
890
14, 780
63, 177
836
1
1
716
1
1, 048
1 1, 045
i 1, 062
1 1, 028
44, 440
2,430
42, 010
47, 188
46, 174
5,036
41, 138
61, 070
36,723
4,619
32, 104
64, 624
45, 093
7,677
37, 415
97, 151
30, 308
1,674
28,634
33, 187
23, 092
52, 396
29, 697
40,324
57, 897
37, 616
30, 386
41, 987
33, 340
34, 241
31, 621
38, 365
22, 926
28, 100
26, 769
20, 732
21, 716
22, 047
26, 334
40, 506
25, 545
42, 166
32, 099
37, 531
25, 683
48, 080
31, 844
42, 026
28, 277
49, 264
26, 499
35, 112
23, 224
27, 903
17, 645
46, 850
23, 818
55, 812
28, 118
49, 398
24, 438
56, 197
27, 784
48, 214
27, 626
45, 747
25,060
39, 206
24, 108
28, 911
15, 631
83, 938
10, 211
18, 719
i 90, 487
11, 824
18, 728
1 101, 745 i 106, 153
10, 239
10, 336
12, 696
9,493
i 94, 075
8,469
7,018
85 024
9,322
369
433
1,138
148
448
838
56
319
575
37
229
393
15
164
244
15
117
142
24
96
70
68
72
66
251, 982
207, 924
193, 620
190, 875
198, 130
199, 134
144, 994
165, 276
106, 323
130, 717
74, 216
105, 949
48, 437
94, 795
43, 989
89, 767
32 880
71, 645
195, 045
89, 685
182, 355
98, 408
138, 678
100, 065
144, 222
105, 049
103, 897
87, 973
77, 628
60, 610
54, 719
48, 528
38, 305
30, 018
34, 127
22, 329
24 271
20 121
85, 825
116, 937
2 26, 052
73, 621
143, 075
112, 573
2 26, 749
107, 144
160, 209
116, 590
2 33, 460
155, 036
122, 009
107, 832
30, 587
171, 591
2
110 864
92, 265
23, 196
204, 544
95, 400
76, 811
2 23, 497
226, 525
65, 744
62, 876
18,355
231, 652
54 149
63, 388
2 19 644
226, 997
.205
.208
.237
(*)
(4)
(*)
(0
189
1
793
564
2
.237
3,963
5,111
0
3.55
3,469
6,177
3.26
57, 809
65, 721
561, 185
.188
77, 316
58, 402
561, 102
.186
68, 708
54, 657
556. 570
.170
15, 416
9,003
13,634
2 484
157 026
166, 442
162, 308
137 695
145 546
149, 258
3, 549
9,362
1,065
321
297
3
2,946
2,505
0
3.75
1, 023
126, 329
119, 877
35, 140
180, 709
.262
1, 071
356
30,036
416
i 93, 482 i 103, 572
12, 813
11, 505
12, 903
10, 311
2
461
2
400
443
35, 473
64,121
19 203
194, 120
2
(4)
329
24
63
21
147
2
446
465
210
024
.168
5 35 525
39, 263
3,051
8,670
0
4.55
3,186
8 075
3.45
3,648
9,007
0
3.87
4.84
4.89
4.68
4.33
3.68
3.42
72, 635
51, 553
591, 636
.172
74, 946
49, 610
609, 867
.195
60,551
60,401
613, 664
.224
63 724
60, 317
608, 807
.236
74 953
68, 186
601, 736
.240
67, 511
61, 588
605, 329
.242
70 002
60,826
620, 535
.234
74 079
59, 405
623, 490
.201
63 396
44, 027
633, 674
.169
19. 570
57, 878
22, 799
81, 201
3 287, 010
24, 687
77 163
25 075
78 682
22 470
72 988
24, 737
62, 798
21 918
53 983
21 260
42 192
17 842
33 367
5 2^0 064
17 759
22 706
190 723
153, 276
156, 275
216 217
170, 013
167, 065
235 609
163 893
160, 038
240 745
201 298
184 543
215 973
171 360
162 202
240 426
201 472
165, 942
212 077
180 217
141 076
209 264
163 260
157 851
176 839
139 124
134 597
120 792
116 315
0
0
0
3,739
6 109
(6)
3,376
5,579
o
3,484
5 565
(6)
3 700
5 245
o
3 149
4 429
1 7fi 3^7
65 896
81 162
53 358
1 1 R fift*?
130 692
99 828
113 499
131 235
125 870
124 800
107 383
51, 045
60 116
51, 274
54 237
65 175
129? 607
95 790
70 495
119 641
113 715
95 343
.215
.191
.203
.250
.266
.282
.268
.278
!225
.258
.199
r Revised, i Data for crude palm, coconut, castor, and sperm oil are excluded from the pertinent items for July-August; beginning September 1950, these oils have been restored on a
commercial
stocks basis.
2
Compiled by the U. S. Department of Commerce, Bureau of the Census.
4
6
3 December 1 estimate.
No quotation.
s August 1 estimate.
Less than 500 bushels.
tRevised series. Beginning in the September 1949 SURVEY, data include oleomargarine of vegetable or animal origin.
75 971
67, 121
.185
SUEVEY OF CURRENT BUSINESS
S-26
Unless otherwise stated, statistics through
1948 and descriptive notes are shown in the
1949 Statistical Supplement to the Survey
September 1951
1951
1950
July
August
Septem-
ber
October
Novem-
ber
Decem-
ber
January
Febru-
ary
March
April
May
June
July
CHEMICALS AND ALLIED PRODUCTS—Continued
FATS, OILS, ETC.— Continued
Vegetable oils, oilseeds, etc.— Continued
Oleomargarine:
Production
thous. oflb
Stocks (factory and warehouse)*
_
do_
Price, wholesale, vegetable, delivered (eastern
TJ. S.)
dol. per lb__
Shortenings and compounds:
Production
thous. of lb__
Stocks end of month
do
i 89, 425
12, 193
i 84, 129
21, 383
* 64, 829
16, 811
i 74, 234
14, 807
i 93, 852
12, 645
i 89, 959
14, 150
i 112,813
19,905
i 79, 493
21,811
i 91, 137
22, 987
i 71, 394
20, 066
i 80, 344
17, 959
i 71, 301
19, 685
i 69, 436
17, 451
.249
.264
.269
.264
.279
.294
.324
.324
.324
.316
.300
.273
101, 037
71, 189
180, 280
60,544
156,820
71, 852
142, 215
85, 962
155, 333
81, 121
144, 092
103, 583
160, 179
88, 956
138, 518
99, 623
112, 025
123, 554
98, 840
152, 844
106, 416
151, 602
86, 770
140, 550
80, 203
114, 434
99,212
89, 857
33, 008
56, 849
9,354
122, 629
111,165
42,161
69, 004
11, 465
103, 323
93, 170
38, 417
54, 753
10, 153
99, 384
90, 366
41, 114
49, 252
9,018
87,384
79, 599
37, 575
42, 024
7,785
82, 117
74,474
35, 111
39, 363
7,643
111, 118
101,046
41, 149
59, 898
10, 072
99, 792
90, 969
37, 361
53, 608
8,823
113, 436
103, 693
44, 387
59, 306
9,743
106, 060
96, 651
41, 786
54, 864
9,410
110, 639
100, 175
41,357
58,817
10, 464
104, 690
94, 523
38, 871
55, 651
10, 167
93, 534
84, 708
34, 592
50, 116
8,826
2,397
7,240
563
830
25, 901
26, 570
13, 505
34, 376
22, 760
9, 348
21, 567
2,585
8,389
798
1,111
38, 128
27, 993
17, 994
36, 142
25, 806
12, 832
23, 969
2,719
7,248
638
1,150
36,905
29, 377
16, 237
35. 138
25, 718
10, 738
24, 893
2,831
8,643
711
1,329
36, 367
29,658
16, 658
39, 036
26, 614
12, 087
26, 807
2,659
6,696
706
1,069
34, 529
30, 110
17, 602
33, 731
24, 161
11, 683
24, 890
2,812
7,069
673
815
36, 227
25, 398
17, 178
36, 772
24, 218
11, 118
27, 428
3,154
7,205
730
1,334
40, 848
24, 593
19, 872
2
34, 400
2
30, 180
11, 646
2
16, 295
2,589
5,802
668
1,056
32, 541
21, 717
17, 360
31, 813
28, 224
10, 882
14, 264
2,986
6,215
807
1,252
39, 852
25, 162
21, 460
2 37, 880
2 33, 891
11, 996
2
16, 563
3,261
6,707
695
1,044
37, 586
25, 498
22, 342
2 39, 260
2
32, 576
10, 805
2 14, 040
2,895
6,100
726
1,152
r
39, 532
27,236
r
18 475
r 2
39, 734
r
2T32, 008
9, 433
2
16, 140
2,928
6,154
763
872
37, 112
27, 115
17 043
2
39, 166
2 32, 065
6 902
2
15, 661
.316
PAINT SALES
Paint, varnish, lacquer, and filler, total
thous.
Classified, total
Industrial
Trade
Unclassified
of dol__
do_
do
do_
do
T
r
r
r
SYNTHETIC PLASTICS AND RESIN
MATERIALS
Production:*
Cellulose acetate and mixed ester plastics:
Sheets rods and tubes
thous. of Ib
Molding and extrusion materials
do
Nitrocellulose, sheets, rods, and tubes _ __do ___
Other cellulose plastics
do
Phenolic and other tar aeicf resins
do
Polystyrene
do
Urea and melamine resins
do
Vinyl resins
__do
Alkyd resins
_
do
Rosin modifications
__do
Miscellaneous resins.
do
2
2
2
ELECTRIC POWER AND GAS
ELECTRIC POWERt
Production (utility and industrial), total
mil. of kw.-hr__
Electric utilities, total
-do.
By fuels
do
By water power
do_
Privately and municipally owned utilities
mil. of kw.-hr__
Other producers
do
Industrial establishments, total.
do_
By fuels
do
By water power _ _ _
do__
Sales to ultimate customers, total (Edison Electric
Institute)
mil ofkw.-hr
Commercial and industrial:
Small light and power
_
do
Large light and power
_do_ __
Railways and railroads
_
do_
Residential or domestic- _
do ___
Rural (distinct rural rates)
do_.
Street and highway lighting
do___
Other public authorities
_do _.
Interdepartmental.. _ _ _ _
__do___
Revenue from sales to ultimate customers (Edison
Electric Institute)
thous. of dol__
31, 626
26, 780
19, 273
7,507
33, 874
28, 869
21, 338
7,531
32, 650
27, 774
20, 231
7,543
34, 307
29, 151
21, 763
7,388
34, 072
29, 006
21, 345
7,661
35, 779
30, 632
21, 944
8,689
36, 726
31, 418
22, 539
8,879
33, 102
28, 219
20 012
8,207
36, 172
30, 920
21 699
9,221
34, 431
29 293
20 283
9,010
35, 136
29 871
21 334
8 537
34, 966
29 840
21 819
8 021
35, 435
30 392
22 HI
8 281
22, 914
3,866
4,846
4,459
387
24,780
4,090
5,005
4,647
358
23, 744
4, 030
4,876
4,511
366
25, 189
3,962
5,157
4,781
376
25, 073
3,933
5,066
4,699
367
26, 268
4,365
5,146
4,748
398
26,990
4 427
5,308
4 872
436
24, 156
4 063
4,883
4 469
413
26, 551
4 369
5 252
4 843
409
25, 246
4 048
5,138
4 683
455
25, 852
4 019
5 265
4 836
429
25, 778
4 062
5 126
4 736
390
25, 974
4 418
5 042
4 701
341
22, 637
23, 777
24, 157
24, 458
24, 673
25, 640
26, 690
25 966
26 001
25 940
25 467
25 717
4,277
11, 260
437
5,034
818
200
564
46
4,367
12, 236
456
4,991
874
219
589
46
4,434
12, 301
447
5,256
836
249
593
42
4,321
12, 611
476
5,482
631
280
613
42
4,332
12, 556
494
5,803
522
300
625
41
4,443
12, 596
557
6,560
478
321
638
47
4,733
12, 694
574
7,189
473
319
664
44
4,652
12, 351
531
6,974
476
282
659
42
4,565
12, 772
541
6,593
546
279
654
50
4,556
12, 868
497
6,339
724
254
656
47
4,482
12 937
465
5 949
708
231
648
47
4 683
13 099
441
5 819
775
216
637
47
412, 437
421, 090
430, 680
435, 286
440, 961
458, 072
474, 794
467 200
460 900
456, 779
451 677
456 313
GASJ
Manufactured and mixed gas (quarterly) :
Customers, end of quarter, total
thousands
Residential (incl. house-heating)
do
Industrial and commercial
do
Sales to consumers, total
__mil. of cu. f t _ _
Residential
_ _ _ _ _ _ __
_do
Industrial and commercial
do ___
Revenue from sales to consumers, total
thous. of dol.
Residential (incl. house-heating)
_do
Industrial and commercial
do
Natural gas (quarterly) :
Customers, end of quarter, total
thousands-Residential (incl. house-heating)
_do -__
9,154
8,537
609
97, 507
55, 747
41, 040
9,127
8,505
616
134, 603
87, 847
45, 495
8 981
8,362
613
3 1, 144
3794
3332
108,008
77, 182
30, 238
139, 521
102, 147
36, 455
175, 832
130, 335
44,023
14, 490
13, 339
15 503
14, 204
1,282
3 313, 333
5, 924
3
7, 112
555, 071
360, 834
187, 619
Sales to consumers, total
mil. of cu. ft__
Residential (incl. house -heating)
do
740, 818
108, 884
15, 076
13, 830
1, 231
988, 031
297, 143
Revenue from sales to consumers, total
thous. of dol
Residential (incl. house-heating)
do __
Industrial and commercial
do
229, 031
92, 812
130, 304
372, 223
206, 351
159, 895
2
/ Revised.
1 Compiled by the U.S. Department of Commerce, Bureau of the Census.
Beginning January 1951, the comparability of the data has been affected by the following changes
in classification and coverage: Vinyl resins, sheeting and film, originally reported on a total-weight basis are now shown on a resin-content basis; alkyd resins include all other uses Dreviouslv
reported
with
miscellaneous
resins
(all
other
uses
for
January
1951,
1,137
thous.
Ib.);
miscellaneous
resins exclude all petroleum resins (petroleum resins for January 1951 14 283 thous Ib )
3
Millions of therms.
' '
JRevisions for January-July 1949 for electric-power production and for the first two quarters of 1949 for the gas series will be shown later.
SURVEY OF CURRENT BUSINESS
September 1951
S-27
1951
1950
Unless otherwise stated, statistics through
1948 and descriptive notes are shown in the
1949 Statistical Supplement to the Survey
July
August
September
October
November
December
January
February
March
April
May
June
July
FOODSTUFFS AND TOBACCO
ALCOHOLIC BEVERAGES
Fermented malt liquors:
9,040
9,241
Production
thous. of bbl _
8,621
8,511
Tax-paid withdrawals
do
11, 078
11, 193
Stocks, end of month
__ do _ _
Distilled spirits:
T
33, 042
21, 693
Production
thous. of tax gal__
Consumption, apparent, for beverage purposes
20, 280
thous of wine gal - r 18, 757
16, 142
10, 531
Tax-paid withdrawals
thous of tax gal
r
720, 296
712, 852
Stocks, end of month
do
1,832
1,692
Imports
thous. of proof gal_ .
Whisky:
r
15,
072
10,
337
Production
thous. of tax gal
9,869
' 6, 573
Tax-paid withdrawals
do
r
644,
695
647,
062
Stocks end of month
do
1,719
1,534
Imports
- thous. of proof gal_ _
Rectified spirits and wines, production, total cf
10,233
16, 230
thous. of proof gaL.
' 8, 750
14, 029
Whisky
do
Wines and distilling materials:
Sparkling wines:
44
116
Production
._ thous. of wine gal. _
53
87
Tax-paid withdrawals
do
1,605
1,627
Stocks, end of month
do__
27
41
Imports
_
do
Still wines:
758
4,250
Production
- do
8,236
11, 367
Tax-paid withdrawals
do
117,
335
109,
347
Stocks end of month
do
255
276
Imports _
__
do
1,509
12,
813
Distilling materials produced at wineries do
6,870
6,845
10, 648
6,391
6,913
9,692
6,166
6,019
9,451
5,893
6,163
8,815
6,872
5,894
9,440
6,075
5, 237
9,921
7,514
6,675
10, 341
7,476
6,449
10, 910
8,402
7,697
11, 107
8,965
8,187
11,362
9,009
8,480
11,383
41, 863
47, 852
38, 254
35, 444
36, 063
28, 605
35, 339
28, 620
27 893
25, 807
18, 774
15,473
11, 348
737, 771
1,461
15, 177
10, 128
760, 806
1,706
17,630
11, 064
780, 654
2,189
24, 564
12, 061
795, 181
1,856
20, 725
16, 986
808, 922
1,474
18, 161
13,606
820, 073
1,316
15, 108
10 273
843, 250
1,387
11, 674
5,315
865, 164
1,277
13, 035
7,001
884, 516
1,309
13, 226
7,274
901, 106
1,459
7 021
910, 339
17, 758
6,455
656, 999
1,322
20, 536
5,939
670, 213
1,543
22, 241
6,557
684, 031
1,994
19, 244
6,899
694, 210
1,638
20, 207
9,772
701, 634
1,311
16, 235
7,811
707, 672
1,160
19 979
6,107
720 712
1,247
14 727
15, 912
3,076
3,713
731, 629 ' 742, 588
1,155
1,209
13 273
3,641
751 241
1,363
9,763
3,686
755 774
11,081
9,741
10, 233
9,037
11, 112
10, 177
11,063
10, 153
14, 834
13, 523
12, 227
11,170
8,436
7 269
4,836
3,834
6,019
5,239
5,896
5 240
6,431
5,837
73
111
1,579
44
77
148
1,499
68
83
168
1,398
119
60
170
1,267
118
85
86
1,259
49
149
66
1,327
35
68
78
1,306
39
195
53
1,438
180
82
1,525
36
1,550
41, 610
11, 271
143, 694
331
98,229
59,214
12, 657
194, 870
459
124,020
15, 253
11. 768
198, 490
562
36,337
4,818
10, 778
187, 747
534
10,855
2,081
11, 246
176, 428
353
1,460
1,711
9,680
166, 912
309
1,007
2 301
10 598
158 371
388
1,342
1,367
8 869
150, 596
1 565
8 394
142 987
398
466
38
412
703
117
.84
50
1,212
8 207
133, 978
363
416
DAIRY PRODUCTS
Butter, creamery:
Production (factory) t
thous . of lb_ Stocks, cold storage, end of month
do
Price, wholesale, 92-score (New York)_dol. per lb—.
Cheese:
Production (factory), totalj
thous. of lb
American, whole milkt
do
Stocks, cold storage, end of month, total., do __
American, whole milk
. _
- do
Imports __
do
Price, wholesale, American, single daisies (Chicago)
dol. per lb..
Condensed and evaporated milk:
Production :t
Condensed (sweetened):
Bulk goods
thous of lb
Case goods
do
Evaporated (unsweetened), case goods. __do
Stocks, manufacturers', case goods, end of month:
Condensed (sweetened)
thous. of lb
Evaporated (unsweetened)
do
Exports:
Condensed (sweetened)
do
Evaporated (unsweetened)
do__
Prices, wholesale, XI. S. average:
Condensed (sweetened)
dol. per case
Evaporated (unsweetened).
_do
Fluid milk:
Production
mil. of lb_.
Utilization in mfd. dairy products
do
Price, dealers', standard grade
dol. per 100 lb
Dry milk:
Production:^
Dry whole milk
thous. of lb_.
Nonfat dry milk solids (human food)
do
Stocks, manufacturers', end of month:
Dry whole milk
do
Nonfat dry milk solids (human food)
do
Exports:
Dry whole milk
do
Nonfat dry milk solids (human food)_._ do
Price wholesale, nonfat dry milk solids (human
food), U. S. average
dol. per lb_.
r
147, 100
230, 063
.603
124, 960
239, 398
.614
103, 035
234, 111
.633
91, 930
208, 228
!642
75, 910
159, 873
.647
79, 000
105, 192
.664
86, 675
75, 329
.698
81,270
52, 507
.694
93,700
33, 378
.671
104, 395
32 207
.670
134, 545 r r143. 960
72, 598
42 590
.686
.701
134, 265
105, 243
.675
125, 330
' 100, 140
280, 948
256, 395
3,564
107, 395
84,395
316, 661
287, 977
8,937
89, 560
67,900
326, 907
292, 421
6,854
80, 035
58, 095
310, 240
276, 930
5,185
67, 030
45, 830
261, 259
233, 733
4,885
67, 925
45, 265
212, 493
187, 157
3,618
71, 035
49, 495
179, 577
155, 117
5,479
70,605
49, 585
160, 621
137, 397
9,063
89 245
64, 565
155, 095
130,
655
T
4 477
100 140
75 190
169, 822
144 441
3 212
131 695 T 141 470
102* 515 f 112 040
197 412 234, 608
169 553 ' 204 009
2 757
2 639
124 810
100 750
259, 012
224 292
.341
.349
.354
.360
.363
.386
.447
.455
.437
.407
.414
.420
.408
31, 000
4,850
302, 100
28, 350
6,200
284,300
21, 200
5,900
232, 600
19, 575
5,325
202, 000
15, 100
4,260
159, 000
18 350
4,135
156,300
18, 400
5,435
182, 000
16 390
5,025
190,000
21 525
4 350
258,600
22 785
4 375
289, 500
36 850
5 850
388, 000
35 275
6 275
370, 250
25 100
4 900
314, 750
7,368
340, 962
7,016
349, 397
9,409
388, 620
9,296
383, 161
10, 494
316, 666
6,883
159, 559
7,598
88, 859
6,753
113, 207
9 501
91,682
8 325
148, 505
9 566
222, 603
8 796
426, 747
7 892
524, 154
2,699
6,291
741
11, 741
983
18, 075
1,378
8,199
4, 327
8, 225
2,411
9,352
1,123
8,337
1,969
8,995
1 720
13' 874
2 961
22* 487
3 306
24 368
5 664
32 587
9.10
5.10
9.30
5.29
9.30
5.37
9.50
5.37
9.50
5.39
9.72
5.63
10.49
6.06
10 80
6.15
10 80
6 16
10 80
6 16
10 80
6 16
10 80
6 14
10 80
6 12
11,870
5,078
4.39
10, 620
4,392
4.52
9,396
3,633
4.62
9,081
3,246
4.79
8,402
2,678
4.84
8,523
2,738
4.88
8,960
2,999
4.98
8,527
2,905
5.09
9,690
3,536
5.08
10, 328
3,937
5.05
11,856
5,101
5.00
«• 12, 535
5,330
4.98
11, 829
4,845
5.05
11, 550
90,000
11, 885
60, 950
10, 400
42,900
11, 300
35, 800
9,920
30, 550
9,850
39, 480
10, 784
42,000
12,090
40,150
16, 330
53, 000
17, 030
66, 750
17, 750
94,600
15,550
102, 500
14, 375
78,100
13, 935
82, 722
13 630
59,017
12 503
42,445
13 284
31, 444
11 644
23, 498
10 231
22, 030
10 784
22, 545
13 811
39,' 959
14 464
26, 791
16 564
42, 580
19 190
76, 123
110, 013
121, 663
4,643
17, 704
4,711
21, 028
5,966
17, 957
6,047
20,010
5,308
18, 994
5,334
15, 070
4,644
9,369
4,483
13, 653
6 613
26 535
5 085
15' 881
5 348
7' 177
6 301
12 939
.117
.118
.119
.121
.124
.127
.131
.133
.137
.144
.145
.146
3 1 oq
1 1700
2,844
12, 658
r
.146
FRUITS AND VEGETABLES
Apples:
Production (crop estimate)
thous. of bu
i 120, 499
254
Shipments, carlot
no of carloads
5 427
6 114
1 265
4. 9*V7
339
4 041
3 883
3 860
Stocks, cold storage, end of month.-thous. of bu__
34, 451
7,321
102
40, 032
115
33, 621
27, 273
20, 135
12, 891
4,994
Citrus fruits, carlot shipments
no. of carloads..
7,514
6,551
5,676
5,988
14, 032
10, 944
9,849
11, 994
Frozen fruits, stocks, cold storage, end of month
479, 353
497, 878
thous. of lb.- 414, 557
461, 956
449, 989
466, 135
431, 711
408, 361 390, 646
Frozen vegetables, stocks, cold storage, end of
month
thous. of lb._ 283, 334
454, Oil
361, 366
457, 573
430, 576
425, 170
375,269
328, 520 294, 223
Potatoes, white:
1
Production (crop estimate)
thous. of bu
439. 500
12, 864
Shipments, carlot
_
no. of carloads
11,632
15 279
15, 024
13 513
22 336
13 702
18 588
17 165
Price, wholesale, U. S. No. 1 (New York)
3.485
2.650
dol. per 100 lb_.
2.636
2.128
2.515
3.121
3.039
3.315 1
2.926
r
2
Revised.
1 December 1 estimate.
August 1 estimate.
cf Figures beginning July 1950 exclude production of wines and vermouth; for July 1949-June 1950, such production totaled 83 000 gallons
JRe visions prior to 1949 are shown on p. 24 of the August 1950 SURVEY; those for January-October 1949, on p. S-27 of the January 1951 issue.
6,931
10, 958
r AQJ.
'680
' 10, 437
2 121 338
305
7,365
361, 867
418, 666
r 531, 090
573, 415
272, 111
270, 206
•• 290, 321
351, 832
20 735
91 -i f o
99 4Qft
1 9 781
4.005
4.107
3.733
3.008
2 351 igQ
SURVEY OF CURRENT BUSINESS
S-28
Unless otherwise stated, statistics through
1948 and descriptive notes are shown in the
1949 Statistical Supplement to the Survey
September 1951
1951
1950
July
August
September
October
November
December
January
February
March
April
May
June
62, 074
54, 139
6,822
6,819
24, 585
24, 285
40, 194
3,137
23, 361
2, 582
1.283
1.193
July
FOODSTUFFS AND TOBACCO—Continued
GRAINS AND GRAIN PRODUCTS
Exports, principal grains, including flour and meal
thous of bu
Barley:
Production (crop estimate)
do
"Receipts, principal markets
do
Stocks, domestic, end of month:
Commercial
do
On farms
do
Exports including malt
do
Prices, wholesale (Minneapolis):
No. 2, malting...
dol. per bu._
No. 3, straight
do...
Corn:
Production (crop estimate)
mil of bu
Grin dings, wet process
thous. of bu__
Receipts, principal markets
do
Stocks, domestic, end of month:
Commercial
do
On farms
mil of bu
Exports including meal
thous. of bu
Prices, wholesale:
No. 3, white (Chicago)
dol. per bu_.
No 3, yellow (Chicago)
do._
Weighted average, 5 markets, all grades- -do
Oats:
Production (crop estimate)
mil of bu
Receipts, principal markets
thous. of bu__
Stocks, domestic, end of month:
Commercial
_
do
On farms
do
Exports, including oatmeal
do
Price, wholesale, No. 3, white (Chicago)
dol. per bu_.
Rice:
Production (crop estimate)
thous of bu
California:
Receipts, domestic, rough
thous. of lb__
Shipments from mills, milled rice
do
Stocks, rough and cleaned (cleaned basis), end
of month t
thous. of Ib
Southern States (Ark., La., Term., Tex.):
Receipts, rough, at millsO
thous. of lb._
Shipments from mills, milled rice
do
Stocks, domestic, rough and cleaned (cleaned
basis), end of month t
thous. of lb.
Exportsf
do
Price, wholesale, head, clean (N. O.)__dol. perlb..
Rye:
Production (crop estimate)
thous of bu
Receipts, principal markets
do
Stocks, commercial, domestic, end of month-do
Price, wholesale, No. 2 (Minn.)
dol. per bu
Wheat:
Production (crop estimate) total
29, 755
28, 185
27, 395
29, 581
1
5,894
16, 968
21, 441
13, 503
12, 581
Prices, wholesale:
No. 1, dark northern spring (Minneapolis)
dol. per bu_.
No. 2, hard winter (Kansas City), _ do __
No. 2, red winter (St. Louis)
do
Weighted avg., 6 markets, all grades
do
41, 338
56, 316
59,384
81, 788
301, 009
9,821
8,909
6,663
8,801
9,703
r
2
255, 131
7,204
25, 984
28, 593
34, 541
30, 165
3,599
2,247
4,559
27, 476
88, 869
6,173
24, 692
2,588
32, 625
139, 338
4,181
31, 635
1,252
33, 429
180, 508
2,582
34, 026
1,119
1.692
1.649
1.545
1.484
1.529
1.451
1.488
1.394
1.561
1.476
1.568
1. 512
1.687
1.617
1.742
1.673
1.738
1.628
1.625
1.445
1.517
1.365
1.388
1.261
11, 371
26, 697
12, 096
33, 367
11,973
23, 264
11, 932
24, 371
II, 778
52, 010
3, 131
10, 867
42, 716
12,864
54, 945
11, 182
34, 227
13,004
33,010
16, 893
25, 664
10, 860
21, 914
10, 769
21, 155
39, 434
39, 768
52, 137
74, 058
50, 939
8,825
11, 621
15, 035
8,895
42, 570
814.9
6,903
35, 379
10, 355
71, 453
1,353.1
12, 979
61, 636
7,176
59, 365
2, 160. 5
11, 151
70, 093
10, 938
40, 127
486.2
5,317
38, 779
7,117
(3)
1.556
1.530
(3)
1.534
1.511
(3)
1.541
1.498
1.528
1.521
1.462
1.760
1.581
1.500
(3)
1.686
1.557
&»
1.595
(3)
1.818
1.659
(3)
1.770
1.645
1.889
1.799
1.703
1.870
1.774
1.688
(3)
1.721
1.617
(3)
1.764
1.667
9,066
17, 102
11, 013
8,977
7,211
1 1, 465
7,370
6,783
4,267
5,605
8,263
10, 137
7,923
12, 510
18,275
18, 226
15,231
14, 971
447
726
440
14, 886
264, 557
891
17,798
432
13, 828
559, 676
1,190
13, 030
366
17, 698
907, 660
324
17, 585
333
22,020
1,168,742
257
20, 381
1,055
.890
.781
.816
.812
.928
.977
.995
.996
.993
.980
.931
.865
.794
2 95 793
58, 298
28, 657
50,618
34, 374
45, 169
25, 414
42, 524
37, 536
54, 961
30, 167
62, 332
30, 734
88, 472
58, 385
r
6,084
1
1
109, 357
73, 299
65, 702
73, 075
16, 204
11, 100
163, 842
24, 661
58, 484
37,295
2
2
285
T
r
84, 380
42, 174
58, 099
3 207
9,604
21, 759
1 393
9,930
47, 911
14, 179
14, 274
91, 714
90, 474
57, 204
64, 573
62, 221
64, 246
53, 497
56, 873
65, 013
63, 302
41, 154
126, 695
289, 728
145, 146
715, 391
266, 891
999, 638
225, 808
402, 280
170, 603
126, 718
167, 798
101, 464
185, 318
78, 659
149, 397
58, 548
125, 950
36, 447
87, 562
19, 933
77, 132
25, 428
99, 134
27, 768
141, 379
90,151
197, 345
.085
132, 419
83, 407
.090
328, 120
162, 532
.085
757, 612
107, 336
.089
857,876
81, 930
.099
776, 126
77, 914
.098
663, 977
67, 999
,099
569, 695
66, 834
.100
482, 688
64, 163
.105
419, 822
43, 343
.105
356, 857
13, 024
.105
279, 413
13, 259
.104
162, 622
1,484
5,786
1.483
2,986
7,174
1.382
1,576
7,694
1.388
887
7,518
1.369
665
7,716
1.463
533
7,363
1.764
415
6,861
1.894
465
5,851
1.878
1,029
4,036
1.923
760
2,733
1.883
2,006
1.834
1
mil of bu
Winter wheat
do
Receipts, principal markets
thous. of bu._
Disappearance, domestic
do
Stocks, end of month:
Canada (Canadian wheat)
do
United States domestic totalcf
do
Commercial
do
Interior mills, elevators, and warehouses
thous of bu
Merchant mills
do
On farms
do
Exports, total, including
flour
do
Wheat only
do
39, 857
33, 944
22, 977
2,689
7,871
1.627
1 1,1 026. 8
276. 1
i 750. 7
39, 472
33, 151
206, 867
61, 948
45, 302
245, 370
48, 301
97, 810
85, 886
212, 742
256, 411
158,197
1,205,052
260, 104
197, 072
219, 702
261, 313
253, 690
221, 548
999, 987
247, 318
20, 319
14, 789
15, 494
12, 446
319, 150
137, 422
483, 642
19, 112
15, 799
19, 114
16, 487
19, 557
16, 367
282, 191
129, 357
335, 670
24.140
19, 456
2.530
2.228
2.190
2.300
2.440
2.209
2.163
2.285
2.420
2.210
2.144
2.285
2.366
2.179
2.127
2.243
2.385
2.224
2.204
2.268
2.460
2.346
2.329
2.355
82, 214
.104
2 25 138
2,423
1.790
2
2
2
26, 192
21, 333
28, 407
295, 183
48, 928
214, 399
204, 220
227, 821
206, 379
188, 379
715, 959
193, 663
29, 958
24,608
39, 191
34, 324
200, 827
101, 052
217, 261
38, 529
33,023
59, 523
52, 129
2.493
2.402
2.455
2.414
2.602
2.476
2.529
2.507
2.520
2.401
2.444
2.408
2.532
2.435
2.476
2.440
r
53, 853
31,013
326, 926
168, 777
166, 795
177, 355
177, 369
167, 086
395, 043
157, 848
r
r
47, 718
42, 713
87, 437
74, 018
72, 738
42, 007
39, 469
2.537
2.384
2.305
2.421
2.448
2.343
2.191
2.348
998 3
347 5
650. 7
65, 841
160, 577
211, 870
2.475
2.307
2.213
2.313
Wheat flour:
Production:f
19, 658
18, 811
18, 498
22, 244
21, 079
17, 258
18, 556
19, 737
18, 869
18, 970
18, 762
Flour
thous. of sacks (100 Ib.)
17, 115
18 050
74.5
76.8
85.8
88.4
79.6
72.5
74.6
78.7
82.3
81.6
82.3
Operations, percent of capacity! _
75.7
72.0
389, 965
377, 024
441, 830
337, 876
372, 315 385, 312
374, 335 374, 874
367, 000 r 341, 866
Offal
.__ __ _ short tons. _ 382, 753 422, 168
363, 000
42, 905
45, 546
43, 719
51, 519
49, 099
45, 820
43, 807
44, 175
39, 919
42, 115
43,007
43, 558
Grindings of wheat f
thous. of bu
39, 948
Stocks held by mills, end of month
5,011
4,931
4,803
thous. of sacks (100 Ib.)
4,461
1,369
1,422
2,011
1,127
2,363
1,867
1,308
Exports
do
2,373
2,148
2,089
1 089
3,173
Prices, wholesale:
Standard patents (Minneapolis)
5.730
5.912
5.738
5.925
5.975
6.055
5.930
6.145
6.125
6.306
dol. per sack (lOOlb.)..
6.044
5.912
5.910
5.244
5.284
5.162
5.165
5.480
5.640
5.569
5.150
Winter, straiehts (Kansas Citv)
do
5.550
5.500
5.819
5.575
5. 581
r
2
3
Revised.
1 December 1 estimate.
August 1 estimate.
No quotation.
tRevised series. Data for rough rice, included in rice exports and stocks, have been revised using a new conversion factor supplied by the U. S. Department of Agriculture; unpublished
revisions for exports (1933-July 1948) and those for stocks (prior to August 1949) are available upon request. Revised data for January 1947-July 1948 for wheat-flour production and grindings will be published later.
©Prior to the October 1950 SURVEY, data are shown in thousands of barrels of 162 pounds.
cf The total includes wheat owned by the Commodity Credit Corporation and stored off farms in its own steel and wooden bins; such data are not included in the breakdown of stocks.
§ Based on a 5-day week beginning with the August 1950 SURVEY (prior thereto, on a 6-day week; data for January-June 1949 are shown on p. S-28 of the September 1950 SURVEY.
SURVEY OF CURRENT BUSINESS
September 1951
Unless otherwise stated, statistics through
1948 and descriptive notes are shown in the
1949 Statistical Supplement to the Survey
S-29
1951
1950
July
August
September
October
November
December
January
February
March
April
May
June
July
FOODSTUFFS AND TOBACCO—Continued
LIVESTOCK
Cattle and calves:
Slaughter (Federally inspected):
Calves
thous. of animals..
Cattle
do
Receipts, principal markets..
do—
Shipments, feeder, to 8 corn-belt States
do
Prices, wholesale:
Beef steers (Chicago).
dol. per 100 lb.
Steers, stocker and feeder (Kansas City)-do—
Calves, vealers (Chicago)
do...
Hogs:
Slaughter (Federally inspected)
thous. of animalsReceipts, principal markets..
do
Prices:
Wholesale, average, all grades (Chicago)
dol. per 100 lb.
Hog-corn ratio
bu. of corn equal in value to 100 Ib. of live hogSheep and lambs:
Slaughter (Federally inspected)
thous. of animalsReceipts, principal markets _ _
do
Shipments, feeder, to 8 corn-belt States
.do
Prices, wholesale:
Lambs, average (Chicago) __
dol. per 100 lb.
Lambs, feeder, good and choice (Omaha) .do—
443
1,070
1, 764
152
484
1,184
2,046
239
488
1,196
2,311
447
515
1,169
2,795
763
505
1,151
2,210
485
445
1,110
1,694
251
433
1,160
1,827
183
374
887
1,364
121
447
965
1,442
131
406
894
1,552
151
414
986
1,555
124
406
787
1,345
111
408
920
1,743
173
30.67
27.48
29.60
30.09
26.90
32.00
30.57
26.90
32.88
30.49
26.92
31.70
31.41
28.46
32.38
33.03
29.45
32.38
34.10
31.88
35.90
34.88
34.42
38.38
35.62
35.12
36.50
35.95
35.64
38.90
35.71
35.68
32.83
38.31
35.75
31.61
37.40
3,314
3,626
' 2, 253 2,345
4,137
2,431
5,102
2,955
6,144
3,678
6,777
3,991
6,584
4,070
4,159
2,713
5,117
3,061
4,989
3,060
4,952
3,080
4,700
2,856
3,826
2,616
r
34.29
37.25
20.65
21.55
21.10
19.41
18.04
18.52
20.37
22.26
21.62
21.01
20.77
21.07
20.36
14.9
15.0
14.7
14.0
13.0
12.2
13.0
13.8
13.2
12.7
12.4
13.0
12.8
960
' 1, 150
153
1,076
1,466
355
1,063
2,001
576
1,081
1,790
591
969
1,185
238
918
1,048
252
1,058
1,139
110
740
673
119
738
716
93
657
807
157
••956
657
258
811
964
164
863
1,075
168
27.25
0)
27.12
27.42
27.62
28.50
28.25
28.90
29.50
29.22
31.38
30.77
34.75
33.62
38.25
0)
40.50
39.25
0)
35.50
35.00
31.75
0)
0)
649
45
1,449
542
42
1,478
469
31
1,621
457
27
840
56
1,975
1,049
63
1,334
1,007
45
1,537
984
66
1,479
967
77
1,537
908
79
1,442
603
36
626, 299
66, 051
1,578
696, 567
79, 919
1,831
704, 754
89, 485
1,829
103, 894
1,561
669, 181
124, 307
783
650, 935
160, 544
791
686, 992
172, 291
1,172
527, 293
157, 531
924
576, 081
139, 378
467
537, 799
117,821
495
595, 451
106, 463
385
483, 836
«• 96, 041
348
.493
.531
2.533
2.561
2.576
2.578
2.583
2.578
43, 293
9,416
41, 964
10, 479
50, 187
10, 072
36, 188
9,474
36, 529
7,727
32,603
5,435
31, 456
1, 096, 444 1, 255, 175 1, 237, 582
770, 708
924, 237
908, 712
910, 332
MEATS
Total meats (including lard):
Production (inspected slaughter)._
mil. of lb_.
Stocks, cold storage, end of month
do—
Exports..
_
do
Beef and veal:
Production (inspected slaughter)
thous. of lb_.
Stocks, cold storage, end of month___
do—
Exports. _
do
Price, wholesale, beef, fresh, steer carcasses, good
(600-700 Ibs.) (New York)__
dol. per lb_.
Lamb and mutton:
Production (inspected slaughter)..--thous. of Ib-.
Stocks, cold storage, end of month
do—
Pork, including lard, production (inspected
slaughter)
thous. of Ib-.
Pork, excluding lard:
Production (inspected slaughter).
..-do—
Stocks, cold storage, end of month
do
Exports..
do—
Prices, wholesale:
Hams, smoked (Chicago)
dol. perlb..
Fresh loins, 8-10 Ib. average (New York) .do—
Miscellaneous meats and meat products, stocks,
cold storage, end of month:
Edible offal
thous. of lb_
Canned meats and sausage and sausage-room
products
thous. of lb_.
Lard:
Production (inspected slaughter)
do
Stocks, cold storage, end of month
do
Exports
do
Price, wholesale, refined (Chicago) .._dol. per lb_.
.498
.491
47,326
7,994
••847
1,387
748
81
556,897
92, 285
2
.576
38,061
5,953
41, 543
6,079
47, 225
5,998
46, 674
6,486
697, 727
705,016
726, 906
922, 354
791,554
514, 916
394, 402
4,481
519, 370
303, 588
3,572
547, 272
240, 544
3,284
665, 625
219, 758
3,425
821, 067
326, 300
5,504
923, 638
499, 408
10, 403
896, 297
668,007
9,591
570, 361
641, 565
7,755
684, 025
648, 384
5,486
672, 100
654, 497
3,710
665, 162
616, 231
672, 784
r 572, 372
6,113
576, 759
499, 758
.611
.579
.551
.557
.482
.467
.408
.536
.414
.571
.430
.579
.573
.461
.553
.463
.559
.474
.565
.587
.565
.488
47, 754
5,862
4,488
35, 892
' 5, 235
41, 288
39, 744
38, 157
38, 932
47, 876
58,903
63, 808
56, 674
53,081
51, 146
49,069
«• 47, 038
34, 893
37, 014
35, 608
34, 162
37, 199
40, 374
45, 708
52, 530
57,376
63, 254
61, 637
' 57, 727
53, 306
133, 375
106, 613
33, 456
.174
135, 697
75, 496
33, 126
.190
131, 253
58, 241
21, 653
.181
161,749
52, 128
17, 871
.165
200, 922
57, 794
26, 014
.178
242, 183
69, 857
38, 727
.197
249, 441
89, 321
47, 486
.215
146, 508
89, 433
32, 277
.218
175, 502
78, 352
55, 519
.213
173, 137
75. 171
66, 995
.203
179, 686
68, 639
182, 936
T
68, 754
67, 886
.200
157, 111
49, 175
41, 632
103, 367
.229
39, 168
105, 179
53,859
140, 352
.239
72,338
217, 999
.220
87, 741
269, 640
.232
82, 807
281, 972
.241
38, 436
284,623
.272
27, 972
242, 023
.301
34, 806
192, 913
.324
35, 273
147, 203
.334
43, 097
125, 359
.314
52, 380
112, 369
42, 360
106, 848
.269
4,687
11,098
4,274
5,199
3,947
3,739
4,074
1,984
3,977
1,366
4,351
637
5,021
1,681
5,203
1,843
6,340
2,159
6,318
2,027
3,235
6,156
5,270
2,652
4,711
668
3, 163
174, 761
2,568
155, 369
1,558
133,002
502
104, 378
61
75, 582
34
47, 310
75
31, 157
159
32, 712
309
62, 298
973
109, 253
162, 659
2,083
' 2, 427
189, 980
.412
.503
.560
.577
.577
.425
.449
.468
.475
.478
.517
44,604
r 40, 590
37, 343
32, 373
.382
23, 778
.383
.350
1,281
847
707
1,485
837
572
639
1,317
985
521
500
.544
.536
.532
.198
.198
POULTRY AND EGGS
Poultry:
Receipts, 5 markets
thous. of lb_.
Stocks, cold storage, end of month
do
Price, wholesale, live fowls (Chicago)_dol. per lb_.
Eggs:
Production, farm
millions..
Dried egg production
thous. of lb_.
Stocks, cold storage, end of month:
Shell
thous. of cases..
Frozen
thous. of lb_.
Price, wholesale, extras, large (Chicago) f
dol. per doz..
2,243
189, 290
MISCELLANEOUS FOOD PRODUCTS
61, 906
71, 989
Candy, sales by manufacturers
thous. of dol__
75, 588
61, 844
54, 027
53, 723
46, 463
56, 278
Cocoa:
32, 204
26, 475
Imports
long tons__
13, 494
12, 830
14, 596
29, 648
19, 849
26, 482
48, 483
25, 526
.356
.372
.345
.420
.363
Price, wholesale, Accra (New York) _ _dol. per lb._
.384
.405
.370
.384
.376
Coffee:
1,721
Clearances from Brazil, total
thous. of bags..
1,350
1,684
1,251
1,517
1,687
1,362
' 1, 691 1,447
966
977
1,170
974
To United States
.do
999
1,095
713
1,033
934
1,304
655
741
715
Visible supply, United States
do
750
768
719
797
728
952
830
730
1,355
Imports
do
1,804
1,729
2,224
1,381
2,099
1,987
2,344
2,128
1,456
Price, wholesale, Santos, No. 4 (New York)
.540
.538
.561
.551
.530
.519
dol. perlb..
.553
.555
.548
.545
Fish:
52, 982
Landings, fresh fish, 5 ports
thous. of lb_.
29, 074
69, 303
56, 471
43, 530
28,665
38, 692
43, 321
70, 140
57, 916
Stocks, cold storage, end of month
do
153, 625
158, 473
137, 307
166, 105
165, 394 157, 722 130,880
106,834
96, 367
88, 803
r
2
Revised.
1 No quotation.
Grade names approximately one level higher beginning January 1951; designated as "choice".
fRevised series. U. S. Department of Agriculture data replace the series for U. S, standards published prior to the October 1949 issue of the SURVEY. Data
ber 1948 are shown on p. 24 of the June 1950 SURVEY.
67,200
105, 944
127, 351
~I45~752~
for September 1944 to Decem-
SURVEY OF CURRENT BUSINESS
&-30
Unless otherwise stated, statistics through
1948 and descriptive notes are shown in the
1949 Statistical Supplement to the Survey
September 1951
1951
1950
July
August
September
October
November
December
January
February
March
April
June
May
July
FOODSTUFFS AND TOBACCO—Continued
MISCELLANEOUS FOOD PRODUCT S—Con.
Sugar:
Cuban stocks, raw, end of month
2,721
thous. of Spanish tons..
United States:
Deliveries and supply (raw basis) :
Production and receipts:
26,003
Production
short tons..
Entries from off-shore
_. _.do ... 587, 920
231, 972
Hawaii and Puerto Rico .
do
Deliveries, total
do.. _ 1,191,606
1,189,474
For domestic consumption
. __do
2,132
For export
do
Stocks, raw and refined, end of month
635
thous. of short tons..
7,925
Exports, refined sugar
short tons
Imports:
Raw sugar, total
. do . _ 299, 554
236, 455
From Cuba
do
From Philippine Islands cf
do . . . 61, 963
37, 310
Refined sugar, total
do
27,487
From Cuba
_ _ __do_.
Price (New York):
.060
Raw, wholesale
dol. per Ib
Refined:
.452
Retail
dol. per 5 Ib
.078
Wholesale
dol. per Ib..
10, 874
Tea, imports
_ __ __thous. of Ib
TOBACCO
Leaf:
Production (crop estimate)
mil. of Ib
Stocks, dealers' and manufacturers', end of quarter, total
mil. of Ib
Domestic:
Cigar leaf
do
Air-cured, fire-cured, flue-cured, and miscellaneous domestic
mil. of Ib
Foreign grown:
Cigar leaf
do
Cigarette tobacco
do
Exports, including scrap and stems thous. of Ib
Imports, including scrap and stems
do
Manufactured products:
Production, manufactured tobacco, total.. .do
Chewing, plug, and twist
do
Smoking
_
do__
Snuff
do
Consumption (withdrawals):
Cigarettes (small):
Tax-free
millions
Tax-paid
_ _ _
do
Cigars (large) tax-paid
thousands
Manufactured tobacco and snuff, tax-paid
thous. of lb_.
Exports, cigarettes
millions
Price, wholesale (composite), cigarettes, f. o. b.,
destination
dol per thous
2,488
3,838
3,137
18, 463
34, 751
563, 138
567, 747
260, Oil
171, 703
532, 257 1, 104, 322
520, 335 1, 094, 004
10, 318
11,922
47, 954
620, 832
284, 460
824, 919
821, 213
3,706
31, 386
594, 611
228, 452
519, 795
511, 268
8,527
1,818
16, 670
1,285
21, 079
1,090
32, 922
1,217
344, 583
242, 238
102, 344
39 665
39, 465
285, 126
175, 481
109, 636
36, 841
36, 534
271, 882
174 534
97, 342
29 310
29, 168
3,538
2,176
1,825
1,186
641
246
506
1,538
90, 775
731, 339
224, 624
949, 970
945, 923
4,047
129, 607
628, 737
237. 608
662, 336
653, 505
8,831
594, 565
450, 538
149, 352
515, 189
504, 709
10, 480
866, 935
320, 519
131,587
523, 250
510, 224
13, 026
531, 464
203, 654
84, 803
688, 617
681, 353
7,264
111, 686
235, 737
21, 153
653, 208
646, 583
6,625
66, 422
553, 832
104, 596
556, 093
546, 803
9,290
487
1,897
605
2,006
1. 152
1,782
1,768
5,012
1,836
7,160
1,591
1,344
1,612
1,978
1,722
3,933
449, 594
390, 383
52, 413
52, 784
52, 267
353, 195
323, 203
25, 087
25, 736
21, 132
306, 359
275, 485
25, 876
12, 109
11, 895
163, 462
144, 820
11, 103
396
286
134, 063
123, 431
8,401
400
247, 342
234, 282
13, 029
21, Oil
20, 910
368, 900
285, 682
83, 189
21, 050
20, 600
344, 935
266, 755
78, 165
39, 364
39, 364
.062
.062
062
.062
.063
061
060
059
058
063
066
063
.491
.080
8,787
.489
.081
8,752
.482
.081
12, 733
.480
.081
8,662
.480
.081
5, 992
.487
.081
7,536
.490
.081
7,065
.488
.081
9,627
.501
.081
11, 756
.480
.082
7,208
.482
.084
5,704
.492
.086
1
3,672
40, 570
564, 059
164, 129 i
533, 772
524, 495
9,277
2
2, 056
3,989
3,942
2, 249
3,571
353
331
398
402
3,160
3,492
3,355
2, 973
24, 525
5,721
46, 762
10, 407
18
142
72, 980
8,078
68, 037
7,996
52, 679
6,765
16
150
44, 441
6,352
31, 550
8,543
20, 215
7,954
16
172
29, 448
8,020
32, 804
7,597
25, 718
8,733
17
ISO
26, 794
7,832
16, 578
6,839
6,911
2,828
23, 069
8,870
10, 267
3,932
21, 431
7,627
10, 601
3,203
23,417
7,877
11,918
3,622
19, 063
6,884
8,894
3,285
14, 526
5,902
5,620
2,998
19,810
7,591
8, 510
3,708
18, 150
7,069
7,789
3,293
19, 677
7,328
8,784
3,565
18, 706
6 674
8,732
3 299
20, 145
7 541
9, 103
3 501
19, 581
7 475
8,897
3 209
15, 777
6 708
6,819
2 250
2,820
27, 374
400, 566
4,009
39, 126
587, 406
3,048
30, 846
503,738
3,223
29, 738
553, 776
2,837
29, 825
544, 792
2,619
25, 000
374, 800
2,344
33, 474
458, 877
3,003
28, 857
435 074
2 600
30, 160
455 351
3 159
29, 524
444 006
3 996
32 776
478 693
3 463
32, 474
502 592
2 444
29, 739
421 758
16,204
1,484
23, 531
1,554
20, 851
1,181
22, 322
1,043
18, 591
1,061
13, 498
1,053
20, 360
1,235
17, 765
1,153
18, 423
1,564
18, 451
1,381
19, 272
1,401
19, 091
1,404
15, 806
6.862
7.056
7.056
7 056
7 056
7 056
7 056
7 056
7 056
7 056
7 056
7 056
7 056
17, 555
312
156
2,743
1,110
20 247
18 237
22 300
23 642
'l95
1,533
1,594
3,616
1,655
2 755
1 949
r
LEATHER AND PRODUCTS
HIDES AND SKINS
Imports, total hides and skins
thous. of Ib
Calf and kip skins
__thous. of pieces.
Cattle hides
_ _ _ _ _ _
do
Goatskins
do
Rhepp and lamb skvns
do
Prices, wholesale (Chicago) :
Calfskins, packers', under 15 Ibs
dol. per lb__
Hides, steer, packers', heavy, native
__do
30, 811
348
258
3,479
3,846
36, 447
346
532
3,411
3,276
29,574
411
386
2,816
1,389
33, 641
357
373
3,934
3,169
27, 963
382
294
3,463
2,359
19, 523
186
272
3,000
1,640
24, 817
416
564
3,477
1,471
.485
.278
.560
.309
.575
.331
.575
.322
.605
.346
.662
.358
.680
.400
962
2 193
3,205
2,856
993
2 249
3,319
2,546
860
2 046
3,019
2 333
870
2 298
3,502
2 831
921
904
805
2 204
3,196
2 705
3,435
2 220
2 492
1 916
3 100
1 968
38
32
2,283
14
24
2,440
53
95
3,284
5
9
2,848
2,051
17
17
2,776
12
78
2,087
LEATHER
Production:
584
1,052
Calf and kip
thous. of skins
930
1,697
Cattle hide
thous. of hides
2,301
2,084
2,677
3,260
2,869
Goat and kid.
thous. of skins
1,989
3,373
Sheep and lamb
do
2,868
Exports:
Sole leather:
22
Bends, backs, and sides
thous. of lb_.
43
30
Offal, including belting offal
..
do
10
32
43
Upper leather
thous. of sq. ft__
2,271
2,944
2,417
Prices, wholesale:
.571
Sole, bends, steer, f. o. b. tannery
dol. per lb__
.598
.625
Chrome calf, black, B grade, composite
1.134
1.080
1.154
dol. per sq. f t _ _
l
a
3
'Revised.
December 1 estimate.
July 1 estimate.
No quotation.
cfSee corresponding note on p. S-30 of the October 1949 SUEVEY.
.625
(3)
132
21
218
222
2,976
.672
(3)
203
175
3,230
.720
(3)
285
280
.790
(3)
512
.720
(3)
619
574
2 917
1 835
1 881
2 614
1 478
r \ 956
56
14
32
48
1,368
1,577
.475
(3)
"
.657
.703
.782
.864
.911
.926
.911
.911
.911
.833
1.166
1.174
1.204
1.229
1.239
1.229
1.235
1.235
1.235
1.152
September
SURVEY OF CURRENT BUSINESS
1951
Unless otherwise stated, statistics through
1948 and descriptive notes are shown in the
1949 Statistical Supplement to the Survey
S-31
1951
1950
August
July
Septem-
ber
October
Novem-
ber
Decem-
ber
January
Febru-
ary
March
April
May
June
July
LEATHER AND PRODUCTS—Continued
LEATHER
MANUFACTURES
Shoes and slippers :§
Production, total.
_ __ thous. of pairs.Shoes, sandals, and play shoes, except athletic,
total
thous of pairs
By types of uppers :d"
All leather
do _
Part leather and nonleather
do
By kinds:
Men's
do
Youths' and boys'
do
Women's
do
Misses' and children's
do_ _ _
Infants' and babies'
do
Slippers for housewear
do
Athletic
do
Other footwear
_ _ _ _do_
Exports
do
Prices, wholesale, factory, Goodyear welt, leather
sole:
Men's black calf oxford, plain toe _ _ dol. per pair..
Men's black calf oxford, tip toe
do
Women's black kid blucher oxford
do _
35, 465
48, 770
43, 928
44, 083
38, 236
35, 894
44, 885
42, 380
46, 176
38, 732
37, 392
36, 669
30, 954
41, 824
37,355
36, 720
32, 285
32, 588
41, 451
38, 862
42, 009
34, 715
33, 468
32, 782
28, 748
2,141
38, 671
3,011
34, 483
2,706
33, 942
2,761
29, 971
2,313
30, 239
2,401
37, 272
3,106
35, 357
3,439
37, 785
4,154
30,638
4,077
29, 480
3,988
28, 905
3,877
6,897
1,334
16, 595
3,959
2,169
4,026
263
222
U93
9,519
1,777
22,300
5,267
2,961
6,199
355
392
1256
9,155
1,689
18, 810
4,807
2,894
5,783
363
427
1275
9,278
1,607
17, 677
4,941
3,217
6,630
339
394
1333
8,623
1,317
14, 784
4,601
2,960
5,362
316
273
1280
8,175
1,193
15, 309
4,874
3,037
2,858
273
175
1196
10, 023
1,250
20, 689
5,937
3.552
2,913
277
244
1244
9,337
1,155
19, 634
5,487
3,249
3,017
278
223
1279
10, 598
1,235
21, 176
5,553
3,447
3,552
339
276
1401
9,304
1,025
17,316
4,207
2,863
3,478
299
240
1338
9,703
1,199
15, 453
4,204
2,909
3,391
255
278
1307
9,214
1,284
15, 380
4,289
2,615
3,412
211
264
1247
9.678
6.750
5.150
10.045
7.150
5.150
10. 131
7.225
5.150
10.388
7.350
5.150
10.388
7.750
(2)
10. 682
7.975
5.150
11.368
8.560
5.150
11. 760
8.800
3 6. 250
11. 760
8.800
36.250
11. 760
8.800
3 6. 250
11. 760
8.800
3 6. 250
11. 466
8.688
3 6. 250
75, 971
230, 218
64, 934
' 232, 287
83, 538
213, 085
93, 155
204, 938
11. 368;
8.350
3 6. 250
LUMBER AND MANUFACTURES
LUMBER—ALL TYPES
Exports, total sawmill products^
M bd f t _ _
Imports total sawmill products
do
National Lumber Manufacturers Association:
Production, total©
mil. bd. ft_Hardwoods
do _
Softwoods©
do
Shipments, total©
do
Hardwoods
do
Softwoods©
_
do _ _ .
Stocks, gross (mill and concentration yards), end
of month total©
mil bd ft
Hardwoods
do
Softwoods©
do
SOFTWOODS
Douglas fir:
Orders, new©
_ _
do__ _
Orders, unfilled, end of month©
do
Production©
do
Shipments©
do
Stocks, gross, mill, end of month©
do _ _ _
Exports, total sawmill products
M bd. ft Sawed timber
do
Boards, planks, scantlings, etc
do
Prices, wholesale:
Dimension, No. 1 common, 2" x 4" x 16'
dol. perM bd. ft.Flooring, B and better, F. G., 1" x 4", R. L.
44, 852
338, 658
r
37, 772
339, 223
r
40, 658
374, 905
39, 397
394, 922
r
r
53, 109
264, 418
r
' 66, 416 r '54,733
240, 623
204, 748
' 70, 157
179, 627
r
3,338
761
2,577
3,265
703
2,562
3,950
829
3,121
3,758
780
2,978
3,717
848
2,869
3,637
778
2,859
3,687
829
2,858
3, 553
791
2,762
3,356
776
2,580
3,285
743
2,542
3,009
705
2,304
2,878
651
2,227
3,005
713
2,292
3,199
705
2,494
2,763
634
2,129
2,884
688
2,196
3,288
776
2,512
3,448
788
2,661
3,469
760
2,709
3,454
786
2,668
3,793
806
2,987
3,474
692
2,782
3,660
837
2,823
3,171
632
2,539
3,147
767
2,380
2,741
572
2,169
6,170
2,050
4,120
6,361
2,099
4,262
6,441
2,168
4,273
6,555
2,203
4,352
6,645
2,237
4,408
6,763
2,291
4,472
6,552
2,299
4,253
6,431
2,244
4,187
6,285
2,233
4,052
6,300
2,207
4,093
6,584
2,321
4,263
7,111
2,526
4,585
7,543
2,720
4, 823
889
976
794
757
616
20,200
6,684
13, 516
989
1,044
1,083
921
778
17, 461
5,324
12, 137
848
896
1,009
996
790
17, 087
6,796
10, 291
832
754
1,007
974
806
19, 555
6,661
12, 894
940
734
909
960
766
23, 221
9,043
14, 178
969
733
860
840
773
' 33, 574
13, 769
19, 805
734
942
817
798
752
37, 104
6,977
r
30, 127
1,008
925
904
1,025
631
36, 536
11,421
25, 115
963
890
978
998
611
36, 743
11, 784
24, 959
966
889
1,045
1,012
607
43, 359
13, 792
29, 567
742
704
954
882
717
48, 441
12, 010
36, 431
737
644
708
656
795
r 5 83. 657
5 82. 278
s 82. 136
r
1,085
1,006
913
942
732
r
25, 272
'
6,
981
r
18, 291
« 82. 389
87. 050
88.953
86. 940
79. 026
78. 090
5 82. 032
583.377
583.902
583.943
dol. per M bd. ft.- * 119. 539
126. 063
128. 922
129. 933
130. 458
132. 397
5 131. 635
s 131. 720
s 132. 700
6132.700
914
576
757
807
844
488
831
932
760
414
790
834
751
391
815
774
624
320
778
695
633
361
709
592
905
486
732
780
651
452
652
685
785
449
769
788
678
392
762
735
689
331
816
750
605
299
695
637
619
286
677
632
1,421
10, 448
2,683
7,765
1,320
8,324
2,445
5,879
1,276
5,501
1,544
3,957
1,317
6,976
2,270
4,706
1,400
10, 607
3,051
7,556
1,517
10, 571
2,527
8,044
1,469
9,328
2,108
7,220
1,436
8,224
1,813
6,411
1,417
12, 061
3,405
8,656
1,444
9,087
1,573
7,514
1,510
10, 695
3,457
7,238
1,568
9,329
2,589
6,740
1,613
Southern pine:
Orders new
mil bd ft
Orders, unfilled, end of month
do
Production
_
do
Shipments
do
Stocks, gross (mill and concentration yards), end
of month
mil. bd. ft
Exports, total sawmill products
M bd. f t _ _
Sawed timber
do
Boards, planks, scantlings, etc
do
Prices, wholesale, composite:
Boards, No. 2 common, 1" x 6" or 8" x 12'
dol. per M bd. ft-
Flooring, B and better, F. G., 1" x 4" x 12-14'
dol. perMbd. ft_.
Western pine:
Orders new
mil bd ft
Orders, nnfillp.d, find nf mrvntti
do
Productiont
do
Shipments t- _ _ __ _
_ _ _ _ _ __do_ __
Stocks, gross, mill, end of month
do
Price, wholesale,
Ponderosa, boards, No. 3 common, 1/A x 8"
dol per M bd ft
s 132. 700 5 132. 700 5 132. 308
74. 568
81. 773
87. 225
82.954
79. 027
78. 822
79. 893
80. 173
80.533
80.037
79. 182
78. 298
77. 606
144. 776
148. 405
154. 295
153. 204
153. 204
152. 515
152. 286
150. 448
150. 920
149. 836
149. 210
149. 210
149. 210
803
778
766
733
1,374
851
823
879
806
1,447
766
804
771
734
1,484
747
786
735
721
1,498
617
765
616
606
1,515
619
770
500
5G4
1,451
583
749
388
502
1,337
456
725
406
445
1,298
565
709
548
541
1,305
683
731
659
630
1,334
740
742
792
701
1,427
763
754
847
723
1,551
724
734
741
644
1,648
70.84
74.69
78.68
81.38
82.52
84.47
83.73
84.51
85.35
87.07
86.45
85.73
84.13
150, 764
146, 607
55, 129
244, 051
237, 558
60,695
229, 340
233, 608
56, 721
250, 782
249, 789
58, 498
243, 761
243, 149
57, 703
233, 634
243, 319
47, 747
265, 090
252, 975
59, 039
255, 408
247, 892
66, 156
279, 415
283, 104
60, 610
264, 094
263, 884
59,080
SOFTWOOD PLYWOOD
Production
thous. of sq. ft., *Mj" equivalent
Shipments _ _
do
Stocks, end of month
_ _ _
do_ _
' 285, 278
»• 275, 490
' 65, 801
280, 509
280, 478
65, 549
HARDWOOD FLOORING
Maple, beech, and birch:
5,475
5,400
5,950
4,700
3,775
5,200
8,550
11,650
6,225
7,700
3,675
5,075
Orders, new
M bd.ft
4, -300
19, 600
18, 900
19, 100
19, 675
20,550
15, 625
19, 575
19, 025
21, 025
20, 000
20, 400
16, 975
Orders, unfilled, end of month
do
17, 350
5,375
5.700
5,650
5,900
5,825
5,400
5,800
4,500
5,750
5,700
5,950
Production
do
5,550
4, 050
5,125
5,500
5,750
6,100
5,650
7,500
4,850
5,300
5,875
4,000
5,425
6,250
Shipments
do __
5,300
3,425
3,775
3,570
4,075
4,250
5,700
5,325
4,575
5,600
4,550
4,075
Stocks, mill, end of month
do
5,675
4,875
2
5
r
1
4
No qu otation.
Substitut ed series. Data are f or nurses' (>xford, rub ber toplift; comparab le figure foi* January ] 951 is $5.92 0.
Revised.
Excludes "special category" items.
Data
for July-December 1950 represent a composite of quotations from a larger number of companies. 6 Beginning January 1951, the substituted price is based on quotations from a smaller
number of companies.
§Data beginning 1949 have been revised to include reports from additional companies (accounting for about 4 percent of total production in 1949) and, therefore, are not comparable with
earlier figures; revisions for J anuary-May 1949 will be shown later.
cf The figures include a comparatively small number of "other footwear" which is not shown separately from shoes, sandals, etc., in the distribution by types of uppers; there are further
small differences between the sum of the figures and the totals for shoes, sandals, and play shoes, because the latter, and also the distribution by kinds, include small revisions not available
by types of uppers. Data through 1949, shown prior to the August 1950 SURVEY, covered fewer reporting companies (see note "§" above).
tSee note at bottom of p. S-38 of the October 1949 SURVEY regarding revisions for exports of sawmill products for 1948 and Western pine for January 1947-March 1948.
©Minor monthly
revisions beginning 1929 for Douglas fir (formerly designated as West Coast woods) and for total lumber production and shipments (beginning 1934) and stocks (1936,1938) are available upon
request. Revisions for January 1948-July 1949 for total lumber and softwoods are shown on p. S-30 of the October 1950 SURVEY.
SURVEY OF CURRENT BUSINESS
^32
Unless otherwise stated, statistics through
1948 and descriptive notes are shown in the
1949 Statistical Supplement to the Survey
September 1951
1951
1950
July
August
September
October
November
December
January
February
March
April
May
June
July
68, 904
82, 647
87, 050
81, 866
43, 370
65, 806
65, 620
94,499
85, 922
51, 947
51, 757
53, 093
81, 269
71, 488
61, 728
65, 721
54, 740
71, 301
69, 053
63, 976
299, 794
22, 651
387, 593
' 22, 260
296, 948
21, 337
377,
895
r
19, 086
280, 866
15,063
295, 089
14, 102
LUMBER AND MANUFACTURES—Continued
HARDWOOD FLOORING—Continued
Oak.-cf
Orders new
Orders, unfilled, end of month
Production
Shipments
Stocks mill end of month
-M bd ft.do
- - do
- do
-do
98, 438
108, 142
83, 300
86, 019
21, 977
99, 968
104, 163
99, 237
103, 947
17, 267
82, 785
96, 413
91, 059
90,535
17, 791
62, 778
68, 884
93, 040
86, 031
25, 548
71, 035
83, 098
93, 879
93, 131
18, 539
113, 234
91, 658
90, 435
89, 731
34, 199
67, 553
68, 155
81, 885
73, 944
33, 489
83, 274
93, 512
79, 419
78, 129
35, 489
81, 813
92, 804
93, 657
90, 960
38, 186
METALS AND MANUFACTURES
IRON AND STEEL
Foreign trade:
Iron and steel products (excl. advanced mfrs.):
Exports total
short tons
Scrap
do
Imports total
- - do
Scrap
do
r
r
r
r
r
249, 671
14, 357
182, 520
26, 102
252, 086
12, 537
299, 929
121, 140
281, 102
29, 006
256, 874
94,601
' 263, 097
21, 122
451, 097
123, 831
5,273
2,760
2,513
5,553
1,602
3,951
5,826
3,078
2,748
5,816
1.699
4,117
5,790
3,026
2,764
5,767
1,711
4,056
6,320
3,288
3,032
5,805
1,667
4,138
5,929
3,019
2,910
5 475
1,560
3,914
6,004
3,092
2,912
5,240
1,490
3,751
6, 692
i 3, 321
i1 3, 372
5, 462
i1 1, 337
4, 125
13, 477
14, 238
8,685
14, 478
15,012
8,154
13,887
14, 514
7,527
12, 999
13, 419
7,107
7,401
9,017
5,490
3,362
2,997
5,856
3,812
2,183
7,476
12, 704
7,579
24,108
20, 651
3,456
792
12, 482
7,371
29, 966
26,084
3,881
852
12, 191
7,175
35, 716
31, 388
4,328
••928
11, 380
7,415
39, 711
35, 651
4,059
964
6,993
6,861
41, 543
36, 919
4,624
r
735
873
7,289
37, 169
31, 771
5,398
••386
'91
'55
70
67
57
88
1,670
1,202
677
1,794
1,159
649
1,840
1,255
701
1,930
1,161
657
2,012
1,182
653
77, 093
132, 374
86, 021
50, 019
67, 136
152, 583
82, 479
46, 927
57, 852
160, 278
89, 968
50, 157
68, 491
180, 099
85, 163
48, 670
65, 942
194, 950
91, 510
51, 091
5,770
5,752
5,697
5,703
5,924
5,845
5,387
5,395
5,693
5,676
5,894
16,011
1,427
1,408
1,303
1,465
1,481
' l 1, 780
47.48
46.00
49.50
47.95
46.75
49.50
49.86
49.00
49.50
50.53
49.00
49.50
53.19
51.63
52.50
53.58
52.00
52.50
98, 269
68,874
15, 734
128, 369
94, 413
24, 922
134, 574
96, 738
25, 295
149, 558
109, 660
30, 048
145, 929
108, 263
30, 775
155, 258
113, 692
34, 061
445, 567
391, 820
53, 747
94, 929
79, 081
15, 848
547, 552
483, 840
63, 712
123, 608
99, 605
24, 003
620, 407
530, 689
89, 718
122, 408
97, 753
24, 655
643, 119
549, 214
93, 905
136, 737
107, 666
29, 071
656, 586
560, 354
96,232
130, 286
102, 511
27, 775
673, 823
562, 239
111, 584
127, 784
97, 786
29, 998
708, 784
595, 875
112, 909
138, 413
108, 842
29, 571
781, 234
636 611
144, 623
128, 799
97 448
31, 351
874, 598
697, 335
177, 263
160, 917
118, 039
42, 878
924, 202
736 701
187, 501
153, 947
112 074
41, 873
948, 636
746 774
201, 862
156 340
114 096
42, 244
8,083
95
8,242
97
8,205
99
8,753
102
8,023
97
8,355
98
8,843
100
7 766
97
9 071
102
8 841
103
9 094
103
8 657
101
.0438
.0438
.0438
.0438
.0438
.0461
.0468
.0471
.0471
.0471
.0471
.0471
,0471
59.36
.0375
59. 36
.0375
59.36
.0375
59.36
.0375
59.36
.0375
62.72
.0400
62.72
.0400
62.72
.0400
62.72
.0400
62.72
.0400
62.72
.0400
62.72
.0400
62.72
.0400
40.50
43.60
44.00
44.00
44.00
46.50
47.75
46.63
45.00
45.00
45.00
45.00
45.00
5,795
2,128
44
7,138
2,704
49
7,182
2,435
36
7 532
2, 517
32
8 049
2,588
32
9 024
2,604
25
9,517
2,766
50
9 938
2 313
52
10 614
2, 762
48
10 660
2 384
42
10 451
2*605
47
r 10 735
2 632
28
10 066
2 366
31
283, 137 ' 260, 925
16, 479
«• 25, 808
482, 903
467, 063
128, 456 ' 106, 044
305, 897
9,766
479, 284
66, 902
267, 309
18, 339
' 403, 146
46, 017
r
353, 346
19,683
403, 028
54, 489
Iron and Steel Scrap
Consumption total§
thous of short tons
Home scrap
do. _.
Purchased scrap
do
Stocks consumers' end of month total§
do
Home scrap
do
Purchased scrap
do
1
1
6, 930
i 3, 457
l 3, 473
l 4 431
i 1, 220
13 211
i 6, 707
i 3, 331
i 3, 375
14
215
1
1, 104
l 3, 111
3,315
2,028
8,762
3,525
2,453
9,829
8,795
8,837
9,757
14, 362
14,990
9,128
14, 932
15, 783
8,277
0
7,327
30, 227
25, 658
4,569
620
0
6,435
24, 123
20, 324
3,799
573
0
7,372
17, 335
14, 919
2,417
661
6,211
7,235
15, 072
13, 258
1,813
741
12, 664
7,761
19, 772
17, 696
2,075
834
13, 166
7,499
26, 423
23, 731
2,692
1,242
59
69
81
83
49
81
i 2, 392
i 1, 234
1685
!2,390
i 1, 440
1818
i 2, 337
i 1, 363
1767
5,978
2,963
3,015
4 948
1, 301
3 647
r
r
r
Ore
Iron ore:
All districts:
Production
thous of long tons
Shipments
_ do
Stocks, at mines, end of month _
do. __
Lake Superior district:
Shipments from upper lake ports
do _.
Consumption by furnaces. ...
do
Stocks end of month, total
do. ..
At furnaces
do
On Lake Erie docks
.-do
Imports
do
Manganese ore, imports (manganese content)
thous of long tons
13, 574
7,556
33, 142
29, 299
3,843
Pig Iron and Iron Manufactures
Castings, gray iron:§
1,287
Unfilled orders for sale
thous of short tons 961
Shipments, total
_
.
do __
508
For sale
do
Castings, malleable iron:§
55, 715
Orders new for sale
short tons
105, 300
Orders unfilled, for sale
do
67, 514
Shipments, total
do
37, 198
For sale
do
Pig iron:
5,879
Production
thous. of short tons
5,620
Consumption!
do
Stocks (consumers' and suppliers'), end of month §
1,366
thous. of short tons
Prices, wholesale:
47.28
Composite
dol. per long ton
46.00
Basic (furnace)
_
do
47.25
Foundry, No. 2, f. o. b. Neville Island. ..do
1
1
1
2, 298
1, 364
1762
234, 060 1 255, 347
i 92, 508
i 88, 950
54, 817 i 54, 915
1
T
1
1
' 1i 2, 229
1, 396
1796
i 2, 162
i 1, 309
i 742
267, 169 i 276, 463
101, 667 i 97, 276
60, 265 i 57, 554
i 274, 954
i 100, 800
i 61, 373
6,173
5,978
6,070
53.61
52.00
52.50
53.61
52.00
52.50
53.61
52.00
52.50
1
5,176
i 5, 292
6,016
i 6,054
5,888
i 5, 914
i 1, 700
i 1, 623
1 1, 603
53.58
52.00
52.50
53.58
52.00
52.50
53.61
52.00
52.50
i 255, 531
i 93, 745
1
56, 545
Steel, Crude and Semimanufactures
Steel castings :§
Shipments, total- __ .
short tons
For sale, total
do
Railway specialties
do.
Steel forgings, for sale:
Orders, unfilled, total. _
. _ _ _ do
Drop and upset
do
Press and open hammer
do
Shipments, total..
do
Drop and upset. _
.
do
Press and open hammer,
do
Steel ingots and steel for castings:
Production
thous. of short tons
Percent of capacityj
Prices, wholesale:
Composite, finished steel
dol. per lb__
Steel billets, rerolling (producing point)
dol. per long ton. _
Structural steel (Pittsburgh)
dol. perlb..
Steel scrap, heavy melting (Pittsburgh)
dol. per long ton..
1
1
174, 056 l 163, 976
124, 002 1 117, 156
41, 586 i 41, 754
1
rl
190, 365
1
134, 184
1
43, 320
i 181, 908 i 189, 232 i 184, 658
i 1129, 059 ri 1131, 102 i 131, 453
40, 818
39, 194 1 41, 585
8 679
98
Steel, Manufactured Products
Barrels and drums, steel, heavy types:
Orders, unfilled, end of month
thousands
Shipments
_
do
Stocks, end of month
do
l
Revised.
See note marked "§".
cf Monthly revisions (1940-46) to incorporate data for prefinished flooring and small quantities of species of hardwood flooring other than oak, included in current data, will be shown
later; scattered monthly revisions (1934-36) are available upon request.
§Data beginning January 1951 are estimated totals derived from a survey of approximately 1,300 ferrous foundries by the Bureau of Mines and the Bureau of the Census.
^Percent of capacity is calculated on annual capacity as follows: Data beginning January 1951, on capacity as of January 1 of 104,229,650 tons of steel; 1950—July-December, on 100,563,500
tons (as of July 1); January-June, on 99,392,800 tons (as of January 1).
SURVEY OF CURRENT BUSINESS
September 1951
Unless otherwise stated, statistics through
1948 and descriptive notes are shown in the
1949 Statistical Supplement to the Survey
S-33
1951
1950
July
August
September
October
December
November
January
February
March
April
May
June
July
346, 274
263, 683
82, 591
308, 308
METALS AND MANUFACTURES—Continued
IRON AND STEEL— Continued
Steel, Manufactured Products—Continued
Cans, metal, shipments (in terms of steel consumed),
total
short tons
Food
do
Nonfood.. _ ___
_ _ _ _ _ _ _ do
Shipments for sale
do
Commercial closures, production
millions
Crowns, production
thousand gross
Steel products, net shipments:
Total
thous of short tons
Bars, hot rolled— Carbon and alloy. _
do
Reinforcing
do
Semimanufactures
do
Pipe and tubes
do
Plates
do
Rails ...
_
do
Sheets
do
Strip— Cold rolled _
do
Hot rolled
do
Structural shapes, heavy
do
Tin plate and terneplate
do
Wire and wire products
do
396, 681
264, 343
132, 338
364, 504
1,124
33, 836
551, 451
395, 266
156, 185
498, 369
1,527
36, 613
431, 161
310, 916
120, 245
382, 891
1,451
30, 291
349, 858
230, 772
119,086
313, 218
1,520
28, 758
301,350
192, 709
108, 641
265, 628
1,330
29, 260
352, 487
235, 523
116, 964
320, 501
1,275
26, 807
271, 782
160, 492
111, 290
234, 285
1,485
30, 925
239, 543
148, 689
90, 854
203, 920
1,344
29, 040
268, 022
164, 956
103, 066
224, 124
1,536
34, 006
276, 145
169, 462
106, 683
234, 605
1,485
31, 453
308, 227
206, 185
102, 042
259, 347
1,404
30, 282
309, 213
218, 700
90, 513
266,
927
r
1, 313
r 28, 461
5,669
594
156
250
703
393
152
1,728
115
177
347
420
354
6,326
6,145
6,504
6,051
6,905
7,105
6,646
753
159
307
740
542
147
5,776
6,939
689
151
269
770
482
154
6,433
6,635
674
169
282
801
454
158
671
152
280
648
540
131
767
155
320
744
631
158
734
152
292
770
685
161
1,839
1,673
1,843
1,977
792
161
306
824
681
160
787
162
293
801
716
166
1,697
644
141
258
631
522
115
736
141
272
757
653
162
1,756
732
152
336
717
551
140
1,641
1,847
1,739
159
210
355
424
433
172
228
374
388
495
1,937
1,821
170
214
343
467
495
170
196
389
376
484
178
207
365
401
452
184
237
409
408
510
167
197
353
299
442
189
238
452
397
524
184
217
412
361
495
187
204
430
396
513
180
173
409
425
493
62, 915
149, 449
62, 276
203, 639
65, 897
250, 187
67, 954
236, 515
62, 740
228, 436
70, 022
222, 030
67, 701
223, 503
67, 721
180, 141
67, 454
272, 903
72, 698
NONFERROUS METALS AND PRODUCTS
Aluminum:
Production, primary
short tons r 63. 518
202, 258
Imports, bauxite
long tons
Price, wholesale, scrap castings (N. Y.)
.0882
dol. perlb__
Aluminum fabricated products, shipments, total
163.8
mil oflbs
30.2
Castings
do
133.6
Wrought products, total
do
90.3
Plate sheet and strip
do
.342
Brass sheets, wholesale price, mill
dol. per lb._
Copper:
Production:
Mine production, recoverable copper
72, 582
short tons__
Crude (mine or smelter, including custom intake)
short tons. . 85, 378
96, 758
Refined
do
96,006
Deliveries, refined, domestic
do
48, 290
Stocks, refined, end of month _
do
9,785
Exports refined and manufactures
do
' 28, 681
Imports, total
do
13, 112
Unrefined including scrap
do
16, 235
Refined
do
.2220
Price, wholesale, electrolytic (N. Y.)_dol. perlb_.
Lead:
Ore (lead content) :
31, 398
Mine production
_ _ _ _
short tons
32, 283
Receipts by smelters, domestic ore _ do
Refined (primary refineries) :
41, 520
Production t
- do
41, 188
Shipments (domestic) t
do
67, 809
Stocks end of monthf
do
Price, wholesale, pig, desilverized (N. Y.)
.1166
dol. perlb__
Imports, total, except mfrs. (lead content)
' 35, 706
short tons
Tin:
2,574
Production pig
long tons
6,571
Consumption pig
do
1
42, 512
Stocks pig end of month total§
do
18, 254
Government§
- -do
22, 780
Industrial
do
Imports:
658
Ore (tin content)
do
r
11, 641
Bars blocks, piss, etc
_
do
.8988
Price, wholesale, Straits (N. Y.)d"__-dol. perlb__
Zinc:
48, 423
Mine production of recoverable zinc_-short tons..
Slab zinc:
77, 868
Production
-do
84, 116
Shipments total
do
67, 119
Domestic
_.__
do
20, 417
Stocks end of month
_
_
do
Price, wholesale, prime Western (St. Louis)
.1500
dol. per lb__
38, 824
Imports, total (zinc content) _ _ _ _ .short tons
0
For smelting refining, and export
do
For domestic consumption:
20, 467
Ore (zinc content)
do
18, 357
Blocks pigs etc
do
59, 449
63,006
' 215, 129 ' 215, 964
.0985
.1107
.1388
.1541
.1575
.1575
208.9
39.9
169.1
113.0
.342
207.4
42.1
165.3
110.2
.363
210.1
47.3
162.8
106.8
.369
197.2
46.8
150.4
99.7
.378
199.0
46.0
153.0
101.6
.378
210.3
42.5
167.8
113.1
.378
.1575
2
190. 5
40.8
2
149. 7
95.6
.378
206 6
42.2
2
164. 4
101 0
.378
.1725
.0775
182. 3
36.0
146. 4
88.6
.373
.373
' 75, 910
75, 303
96, 541
'87,105
105, 127
113, 513
114, 103
118, 113
60, 896
60, 912
' 14, 041 13, 162
46, 622
48, 626
24, 893
30, 606
21, 729
18, 020
.2420
.2420
82, 718
93, 258
101, 095
68, 045
.1723
.1600
2
2
2
192. 2
40.2
152.0
94.7
.378
.1725
2
2
185. 5
40.5
145. 0
91.8
.377
2
2
80, 222
76, 666
77, 800
81, 957
81, 712
80, 352
73, 012
83, 104
82, 554
93, 138
108, 465
112, 107
50, 952
12, 230
33, 576
8,204
25. 372
.2227
86, 678
111, 842
119, 529
58, 748
12, 035
36,298
8,625
27, 673
.2290
90,542
110, 435
121, 806
56, 945
11, 925
' 62, 645
33, 901
' 28, 675
.2420
90, 148
101,410
111, 985
51,805
12, 226
r
39, 172
18, 664
' 20, 382
.2420
91, 218
109, 464
121, 954
49, 040
20, 905
54, 807
26, 912
27, 895
. 2420
86, 961
110, 144
108, 128
54, 883
8,729
T
45, 831
* 25, 866
19, 965
.2420
81, 598
101, 054
99, 485
59, 324
16, 027
44,850
22, 005
22, 845
.2420
91, 243
112, 933
116, 793
55, 609
14, 457
36, 062
20, 952
15, 110
.2420
90,794
103, 494
114, 744
52, 800
17, 652
43, 812
24,047
19, 765
.2420
36, 030
34, 952
35, 104
36, 912
35, 731
35, 394
35, 377
34,069
36, 175
36, 099
35. 481
33, 965
33, 870
31, 977
37, 096
36, 040
33, 587
34, 618
34,005
33, 198
' 32, 681
32, 244
30, 746
29, 920
47, 242
47, 031
67, 495
49, 958
55, 898
61, 042
54, 123
62, 138
50, 854
50, 725
58, 658
40, 910
48, 234
49, 601
35, 619
48, 878
51, 260
33, 232
43, 675
49, 128
27, 775
50, 701
50, 927
27, 259
44, 362
42, 033
29, 437
44, 951
40, 963
33, 420
39, 952
40, 041
33, 308
44, 864
44, 404
33, 504
.1700
.1580
.1604
.1700
41, 821
' 45, 052
' 61, 040
3,130
7,092
i 41, 442
17, 804
22, 587
3,653
7,059
142,020
17,486
23,666
.1293
r
50, 403
2,717
8,157
i 43. 717
19, 623
21, 910
r
1
r
83, 814
.1700
.1700
.1700
.1700
.1700
.1700
.1700
114, 698
31, 526
12, 898
14, 918
21, 628
11, 201
18, 389
3,395
3,491
4,984
5,152
i 38, 159 ' 1 36, 232
17, 753
18, 151
18, 244
19, 676
3,420
5,295
* 35, 446
19, 906
15, 435
3,529
6,678
42, 697
18, 554
22, 931
3,383
6,799
i 40, 995
18, 618
21, 931
1
3,566
6,456
38, 840
17, 786
20, 728
1
3,423
4,976
37, 933
17, 753
19, 352
.2420
18, 105
4,266
8,254
1. 0205
3,882
3,130
5,136 . '6,259
1.1335
1. 0129
' 1, 618
5,008
1. 3768
3,789
4,019
1. 4478
4,545
5,836
1. 7172
2,927
2,213
1. 8268
2,753
4,405
1. 4546
2,204
2,273
1. 4583
1,334
1,203
1. 3996
2,924
1,868
1. 1805
1. 0600
56, 221
54, 794
55, 791
54, 604
55, 127
59, 651
56. 878
60, 670
56,467
58,233
' 56, 473
53, 773
73, 399
79, 365
69, 073
14, 451
71, 057
75. 241
70, 656
10, 267
79, 997
81, 156
71, 596
9,108
79, 226
79, 079
69, 202
9,255
79, 986
80, 357
72, 333
8,884
80, 937
79, 609
72, 068
10, 212
70, 285
69, 380
64, 784
11,117
80,450
80, 462
70, 845
11, 105
77, 862
74, 419
69, 125
14, 548
80, 430
77, 567
73, 093
17, 411
77, 679
79, 299
74, 149
15, 791
78, 955
83, 346
76, 461
11, 400
.1505
58, 685
2,147
.1710
35, 137
.1750
39, 456
6,169
.1750
34, 150
.1750
' 31, 799
.1750
37,163
3,292
.1750
23, 519
3, 100
.1750
26, 375
3,720
.1750
23, 938
2,263
.1750
31, 684
2,269
.1750
42, 834
2,878
.1750
0
43, 921
12, 617
19, 724
15, 413
20, 446
12, 841
20, 665
13, 485
20, 001
' 11, 202
25, 307
8,564
15, 594
4,825
15, 292
7,363
10, 925
10, 750
13, 599
15, 816
31, 723
8,233
40, 329
72, 295
40, 153
58, 577
38, 488
48, 885
25, 754
48, 483
17, 399
48, 763
21, 262
51, 520
19, 458
52, 712
19, 456
57, 400
12, 898
67, 150
10, 443
80, 306
12, 770
86, 777
6,449
4,846
5,714
4,020
5,798
3,200
5,127
2,766
4,372
2,951
4,675
3,028
0
596
HEATING APPARATUS, EXCEPT
ELECTRIC
Boilers, radiators and convectors, cast iron:
Boilers (round and square):
Shipments
thous. of Ib
Stocks, end of month
_
do
Radiation:
Shipments
thous. of sq. ft
Stocks, end of month
_.do
25, 747
87, 568
2,284
8,699
' Revised.
1 Includes small amount not distributed.
Data beginning February 1951 include figures for 30 companies (which operate captive extruding departments) not previously
canvassed; for February, the shipments by the additional companies increased total shipments for fabricated and wrought products 3 and 4 percent, respectively.
tRevised series. Data beginning 1949 have been revised to exclude figures for secondary refineries; revisions prior to 1949 will be published later. The production figures (corresponding
to those formerly designated as primary) include some secondary lead produced by primary refineries.
cf Substituted series. Compiled by the American Metal Market; data represent average of daily closing prices (prior series was based on averages for the day).
.Government stocks represent those available for industrial use.
4,020
6,531
2
4,311
3,099
4,658
3,717
3,550
4,842
2,413
6,805
SURVEY OF CURRENT BUSINESS
S-34
Unless otherwise stated, statistics through
1948 and descriptive notes are shown in the
1949 Statistical Supplement to the Survey
September 1951
1951
1950
August
July
Septem-
October
November
December
January
February
March
April
May
June
July
METALS AND MANUFACTURES—Continued
HEATING APPARATUS, ETC.—Continued
37, 489
Boilers range shipments
number. _
Oil burners:
Orders unfilled end of month
do_ __ 123, 693
98, 656
Shipments
-- do_ __
50, 446
Stocks end of month
do
Stoves and ranges, domestic cooking, exc. electric:
Shipments total
number. . 281, 870
11, 113
Coal and wood
do
256, 075
Gas (inc bungalow and combination)
do
14, 682
Kerosene, gasoline, and fuel oil
_
do
433,371
Stoves, domestic heating, shipments, total.- do
74, 704
Coal and wood
do_ .
228, 936
Gas
. - .-do
129, 731
Kerosene gasoline and fuel oil
do
Warm-air furnaces (forced-air and gravity-air flow) ,
shipments, total
number. _ 102, 189
54, 203
Gas
.
do
35, 380
Oil
do ..
12, 606
Solid fuel
do
243,490
Water heaters nonelectric, shipments
do
MACHINERY AND APPARATUS
Blowers, fans, and unit heaters, quarterly:
Blowers and fans, new orderst
thous. of dol.
TJnit heater group new ordersj
do
Foundry equipment (new), new orders,
401.8
net
1937-39=100
Furnaces, industrial, new orders:
1,445
Electric
thous. of dol..
2,247
Fuel-fired (except for hot rolling steel) *
do
Machine tools:
253.1
New orders *
1945-47=100
68.3
Shipments
do
Mechanical stokers, sales:
2,234
Classes 1, 2, and 3
number-Classes 4 and 5:
248
Number
_
64, 582
Horsepower
Pumps, steam, power, centrifugal and rotary, new
4,080
orders
thous. of dol_.
ELECTRICAL EQUIPMENT
Batteries (automotive replacement only), shipments
2,060
thousands _.
Domestic electrical appliances, sales billed:
304
Refrigerators, index
1936=100-Vacuum cleaners, standard type
number. _ 279, 967
282, 300
Washers
do
Insulating materials and related products:
370
Insulating materials, sales billed, index_1936=100. .
Fiber products:
Laminated fiber products, shipments
5, 164
thous. of dol.Vulcanized fiber:
3,831
Consumption of fiber paper
thous. of lb.Shipments of vulcanized products
1, 271
thous. of dol_ Steel conduit (rigid) and fittings, shipments
24, 723
short tons_Motors and generators, quarterly:
New orders index
1936=100
Polyphase induction motors, 1-200 hp.:cf
New orders
thous ofdol..
Billings
do
Direct current motors and generators, 1-200 hp.:c?
New orders
thous of dol
Billings
do
43, 552
38, 920
44, 748
40, 689
43, 869
41, 104
35, 807
42, 122
47, 407
47, 218
43, 174
146. 922
138, 587
38, 747
118, 930
115, 780
37, 468
82,903
114, 041
38, 411
65, 496
70, 285
44, 482
57, 837
60, 180
51, 564
65, 856
r 63, 833
61, 006
62,963
58, 550
64,586
56, 894
T
55, 421
69, 485
53, 729
46, 877
75, 071
52, 592
' 41, 984
88, 512
48, 487
47, 444
91, 674
376, 637
21,045
333, 439
22, 153
323,636
16, 157
288, 809
18,670
338, 625
14, 827
309, 846
13, 952
295, 344
11, 187
270, 613
13, 544
263, 729
9 990
237, 001
16, 738
290, 374
12, 136
261, 793
16, 445
281, 362
10, 939
255, 112
15, 311
318, 455
12, 714
290, 989
14, 752
243, 574
8,447
225, 879
9,248
195, 121
7 911
178, 490
8,720
147, 757
9 201
129, 107
9,449
785, 350
172, 497
321, 487
291, 366
658, 807
173, 145
277, 940
207, 722
610, 766
145, 742
290, 932
174, 092
464, 490
109, 658
243, 948
110, 884
327, 637
69, 393
171,182
87, 062
235, 580
44, 719
112 939
77, 922
270, 429
50, 814
128, 797
90, 818
311, 433
62, 291
159, 485
89, 657
285, 184
55, 400
164, 258
65, 526
286, 878
66 439
131, 847
88 592
286, 533
69, 997
141, 063
75, 473
145, 512
76,463
45, 644
23, 405
322, 909
139, 014
74, 241
44, 980
19, 793
280,683
137, 915
67, 036
51, 285
19, 594
286, 907
102, 001
50, 336
36, 988
14, 677
257, 999
85, 407
45. 666
29, 917
9,824
250, 134
71, 143
36, 398
26, 639
8,106
266, 442
71, 966
35, 969
24, 957
11, 040
254, 525
79, 239
41, 180
24, 584
13, 475
265, 122
60,337
30, 033
19, 616
10, 688
235, 355
56 282
26 897
19 227
10 158
r
200 599
61, 889
28, 234
22, 091
11, 564
163, 213
r
r
r
32, 524
17, 667
32, 471
17, 870
r
37, 055
17,112
35, 839
14 583
693.6
483.8
526.8
885.5
526 2
668.0
638.6
599.0
490.1
431 7
393.2
390 3
1,039
3,927
1,485
1,817
1,603
2,306
2,157
2,068
1,505
2,749
2,764
4,033
3,212
4,670
4,846
7,019
3,657
8,497
4,766
5 044
3,370
6,279
5,363
5 508
305.1
95.7
280.6
101.6
289.6
100.9
291.9
110.9
410.1
135.7
475.4
114.3
615.5
123.8
590. 3
158 9
516.1
157.7
483 0
175 1
558. 8
182 8
*490 6
v 145 0
4,430
3,546
2,950
1,891
1,937
1,636
1, 509
1,590
1,170
974
'1,327
1,385
352
87, 404
358
64, 638
259
66, 472
174
38, 343
176
73, 142
174
61, 953
163
38, 095
178
65, 561
177
72, 575
184
56 624
234
78, 390
188
51, 795
6,429
5,191
4,985
5,961
6,720
6,477
6,480
7,654
7,583
6 371
2, 839
2,925
3,007
2,536
2,172
1,873
1,390
1,113
1,790
' 1, 400
1,366
1,592
293
341, 232
381, 500
302
327, 524
424 000
236
331, 445
439. 900
228
265, 310
380 000
219
288, 756
377 000
275
282, 305
323, 957
238
261, 572
345, 994
330
290, 242
376, 458
242
227, 216
298 797
183
201 983
262 734
154
194 548
261 648
161 002
143 436
466
514
547
542
564
595
552
662
626
614
610
6,288
7,054
7,332
7,266
7,574
i 8, 102
8,911
i 8, 583
i 8, 626
4,721
4,674
5,048
4,844
4,738
5,399
5,233
4,185
5, 383
1
7, 552
5, 153
1
9, 279
4,251
J
T
r
1
7, 136
4,701
1,717
1,794
2, 088
2,036
1, 965
2, 244
2,000
2,351
2,287
2,237
2,155
1,847
30, 543
29, 123
25, 875
24, 489
27, 561
25, 055
23, 389
28, 590
27, 464
27, 891
27, 749
23,890
551
674
780
46, 582
29, 610
55, 054
37, 905
64, 221
40, 357
56 573
48 166
7,428
4,163
10, 648
5,382
10 666
6,082
12 779
7,690
PETROLEUM, COAL, AND PRODUCTS
COAL
Anthracite:
2,875
4,313
3,379
3,522
3,862
4,199
2,602
3,622
3,360
2,183
3,743
4,417
Production
_
- thous. of short tons. ~
2,770
Stocks in producers' storage yards, end of month
1,416
815
637
1,298
1,268
732
1,035
1,068
740
792
878
thous. of short tons.747
877
275
461
346
318
480
374
328
323
197
227
Exports
do
414
475
Prices, composite, chestnut:
20.76
21.74
21.90
21.52
23.24
Retail
_
dol per short ton..
21.26
22.14
22.06
23.35
23.48
22 50
22 82
23 00
16. 498
16. 886
16. 980
17. 121
16. 636
16. 739
17. 134
18. 540
18. 062
Wholesale.
do
18. 497
18. 007
17. 818
18 131
Bituminous:
47, 297
45 512
35, 109
50, 083
47 497
51, 376
51 470
Production
thous. of short tons
44 862
40 451
41 965
43 390
44 014
34 462
Industrial consumption and retail deliveries, total
33, 819
36,957
38, 887
37, 954
40, 033
44, 875
46, 376
thous. of short tons-.
41, 665
36, 031
41,300
33, 733 Tr 33, 015
32,377
28, 581
32, 902
30, 202
36, 095
Industrial consumption, total
do
30, 836
33, 270
35, 596
32, 150
34, 345
31, 185
30, 554
29,r 445
28,907
795
903
891
1,105
1,006
1,000
Beehive coke ovens
do
980
1,038
982
983
905
974
836
8,340
8,006
8, 057
8,480
8, 183
8,633
Byproduct coke ovens
do
8,473
7,665
8, 584
8,413
8,708
8,465
8,706
625
749
Cement mills.
.
do .
652
705
670
799
745
638
702
685
695
685
699
6,797
8,451
7,782
8,186
7,456
9,024
Electric-power utilities
do
9,286
8,300
8,714
7,583
7,664
7,728
7,743
4,750
5,329
4,988
4,972
5,360
5,615
Railways (class I)
do
5 717
4,901
5 398
4 798
4 367
3 814
3 985
539
668
611
583
795
553
848
765
671
Steel and rolling mills
do _.
767
609
534
568
6,735
9,176
8,560
Other industrial
do
7,624
7,609
9,910
9,761
8,843
9 197
8 130
7 03?
7 537
6 575
5,238
5,985
7.118
6.763
9.279
Retail deliveries
do. .
6.755
10. 281
9.150
7.320
4.846
3.179
3.570
3.470
r
Revised.
* Preliminary.
1 Beginning January 1951, data cover 3 additional reporting companies.
JSee note marked "i" on p. S-34 of the June 1950 SURVEY regarding revised data.
cf The number of companies reporting is as follows: Polyphase induction, beginning second half of 1950, 32; direct current, year 1950, 29; 1st half of 1951, 28.
* New series. Data for new orders of fuel-fired furnaces are compiled by the Industrial Furnace Manufacturers Association, representing orders (less cancellations) for metallurgical and
other purposes as reported by 24 to 28 companies. Currently, the combined data for electric and fuel-fired furnaces account for about 80 percent of the industry total; data prior to 1949 will be
shown later. The index of new orders of machine tools, compiled by the National Machine Tool Builders' Association, is based on dollar volume of shipments reported by members which are
believed to account for about 85 percent of the total orders and shipments of the industry. Sec note in 1949 STATISTICAL SUPPLEMENT for description of tools included in the index. Monthly
data for 1937-50 are shown on p. 24 of the April 1951 SURVEY.
SURVEY OF CURRENT BUSINESS
September 1951
S-35
1951
1950
Unless otherwise stated, statistics through
1948 and descriptive notes are shown in the
1949 Statistical Supplement to the Survey
July
August
Septem-
October
November
December
January
February
March
April
May
June
July
PETROLEUM, COAL, AND PRODUCTS—Continued
CO A L—Continued
Bituminous— Continued
Consumption on vessels (bunker fuel)
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
Electric-power utilities.
_do
Railways (class I)
do
Steel and rolling mills,
do
Other industrial
_
- do
Retail dealers.. ._
do
Exports
do
Prices, composite:
Retail
dol. per short ton
Wholesale:
Mine run
- - __
do
Prepared sizes
do
COKE
Production:
Beehive .
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
Exports
_ _- _. do .
Price, beehive, Connellsville (furnace)
dol. per short ton__
88
78
87
84
83
40
27
37
41
90
107
98
51, 979
49, 751
10, 395
944
20, 581
3,238
891
13, 702
2,228
2,728
58, 964
56, 620
12, 353
1,089
22, 925
3,746
928
15, 579
2,344
2,956
64, 293
61,836
13,964
1,181
24, 940
3,646
968
17, 137
2.457
£923
70, 478
67, 714
15, 666
1,283
26, 668
4.172
989
18, 936
2,764
3,085
72, 131
69, 389
16, 329
1,361
27. 529
4,513
1,005
18, 652
2,742
2,582
72. 516
74, 006
71,766
16, 960
1,418
27, 006
5,311
1,074
19,997
2,240
2,257
70, 662
68, 754
16, 374
1, 318
25, 875
5,046
1,044
19, 097
1,908
2,412
71, 425
69, 813
16, 751
1,243
26, 529
4,854
1,091
19, 345
1,612
3,207
72, 081
70, 550
16, 462
1,232
27, 571
4,739
1,143
19, 403
1,531
4,752
74, 807
73, 109
16, 175
1,266
29, 826
4,567
1,232
20, 043
1,698
5,507
76, 992
75, 258
16, 247
1,333
31, 060
4,999
1,195
20, 424
1,734
5,242
70, 054
16, 776
1,369
27,121
5, 105
1,012
18, 671
2, 462
1,827
16.12
16.31
16.47
16.74
16.77
16.80
16.86
16.94
16.97
16.94
8.689
9.380
8.698
9.464
8.699
9.562
8.713
9.582
8.735
9.582
8.741
9.582
8.741
9.582
8.967
9.736
8.967
9.661
8.944
9.441
'607
' 5, 912
318
653
5,765
315
592
5,671
283
644
6, 006
289
578
5,666
288
626
5,981
301
715
6,077
327
603
5,399
288
651
6,042
297
573
5,911
286
818
642
176
125
39
827
599
228
101
34
855
584
271
104
37
984
661
323
85
41
1,102
752
351
74
46
1, 106
813
293
82
42
1,100
905
195
86
54
1,069
932
137
116
51
1,266
1,134
132
118
50
14. 250
14. 250
14.250
14.250
14. 250
14. 625
14. 750
14. 750
2,200
170, 017
91
182, 330
2,276
175, 594
94
188, 078
2,023
176, 636
94
181, 778
2,019
182, 896
94
188, 393
2,211
176, 725
93
182, 539
2,008
177, 276
94
190, 448
1, 917
183, 110
96
199, 958
240. 270
62. 845
160, 254
17, 171
237, 393
61, 247
159, 357
16, 789
242, 311
60, 884
164, 303
17, 124
246, 424
61, 993
167, 490
16, 941
249, 525
61,053
171, 343
17, 129
248, 463
63, 328
167, 941
17, 194
243, 107
60, 377
164, 555
18, 175
16.66
74, 100
72, 248
14, 035
1,316
31, 635
4,426
1,168
19, 668
1,852
16.64
16.72
9. 094
9, 440
9.006
9.454
625
6,122
335
632
5,943
315
530
6,104
1,410
1,219
191
125
59
1,445
1,211
233
123
62
1,395
1,135
260
112
90
1,518
1,175
343
14. 750
14. 750
14. 750
14.750
14. 750
1,518
166, 041
96
183, 745
1, 895
187, 624
96
200, 535
1,769
183, 800
91
185, 488
2,074
191, 268
94
199, 521
1,975
183, 898
97
197, 246
235, 247
56, 260
161,556
17,431
233, 824
58, 671
157, 710
17, 443
243, 180
63, 366
162, 444
17, 370
248, 418
65, 365
165, 500
17, 553
248, 170
65, 536
164, 934
17, 700
1
r
8. 911
9. 411
1
1
PETROLEUM AND PRODUCTS
Crude petroleum:
Wells completed ._
_ _ ..number.
Production
thous. of bbl
Refinery operations _
percent of capacity
Consumption (runs to stills)
thous. of bbl
Stocks, end of month :d"
Gasoline-bearing in U. S., total. ._
do
At refineries
_
do _
At tank farms and in pipelines
do
On leases
do
3,274
3,096
3,229
2,654
4,033
2,913
2,917
2,471
1,791
3,615
Exports
_
do
2,342
2,640
13, 575
15, 496
13, 269
15, 307
14, 607
16, 192
15, 185
12,699
14, 305
16,019
15, 141
Imports
do
16, 547
2.570
2.570
2.570
2.570
Price (Oklahoma-Kansas) at wellsf-dol. per bbl_.
2.570
2.570
2.570
2.570
2.570
2.570
2.570
2.570
2.570
Refined petroleum products:
Fuel oil:
Production:
32, 253
33,765
36, 530
41, 628
35, 392
37, 723
44, 244
Distillate fuel oil
_ __ .. thous. of bbl
41, 129
39, 742
37, 500
35, 139
37, 614
35, 338
35, 585
38, 759
37, 202
35, 343
40, 475
41, 771
42, 397
Residual fuel oil
do
38, 696
39, 202
36, 908
38, 303
Domestic demand:
23, 864
24, 864
29, 320
35, 411
55, 343
Distillate fuel oil
_
do
26, 785
57, 331
25, 519
32, 185
50,085
45, 046
24, 132
40, 743
47, 977
44, 762
42, 668
56, 198
Residual fuel oil
do
45, 980
56, 223
44, 104
46, 841
51,101
53, 568
42, 153
Consumption by type of consumer:
r
5, 339
6,194
Electric-power plants
do
6,043
5,899
6,145
6,281
6,417
4,508
4,811
5,573
5,527
4,544
4,375
4,029
4,284
4,247
Railways (class I) _ _
do
4,474
4,204
4,117
4,207
3,594
4,251
3,889
3,658
3,415
4,772
4,545
Vessels (bunker oil)
do_ _.
4,477
5,422
4,980
4,664
5,125
5,008
5,846
6,663
6,753
6,103
Stocks, end of month:
61, 664
68, 426
85, 643
86, 113
78, 270
71, 948
58, 424
Distillate fuel oilO
do
47, 587
42, 978
44, 736
55, 273
67, 839
42, 165
40, 979
45, 004
Residual fuel oil
do
41, 966
45, 048
40, 750
39, 409
40, 317
36, 910
37, 516
39, 317
41, 566
Exports:
809
1,124
Distillate fuel oil
do
1,011
935
916
801
643
773
660
1,884
1,361
1,149
1,221
935
Residual fuel oil
do _
632
1,071
1, 320
802
663
982
644
2,679
1,077
2,471
Prices, wholesale:
Distillate (New York Harbor, No. 2 fuel)t
dol. per gal._
.081
.082
.086
.088
.091
.091
.091
.091
.091
.091
.091
.091
.091
Residual (Okla., No. 6 fuel)*__dol. per bbl..
1.620
1.650
1.650
1.650
1.650
1.700
1.750
1.750
1.750
1.750
1.750
1.750
1.750
Kerosene:
Production
_ _ .. __ . .thous. of bbl
9,091
9,828
10, 264
9,989
10, 255
11, 261
11,475
12, 371
12, 715
11,511
10, 698
9,815
Domestic demand
do
6,926
7,035
7,920
9,486
12, 737
16, 817
14, 789
15, 633
8,678
11, 788
5,494
5,877
Stocks, end of month
do__
25, 803
23,151
27, 677
28, 292
25, 526
19, 723
13, 150
16, 673
16, 262
13, 657
20, 331
24, 169
Exports
. .
do
61
77
136
113
205
214
46
125
185
40
667
388
Price, wholesale, bulk lots (New York Har.092
.096
.093
.098
.101
.101
bor)!
dol. per gal. _
.101
.101
.101
.101
.101
.101
.101
Lubricants:
4,686
Production
thous. of bbl..
4,151
4,646
4,987
4,906
5,068
4,339
5,061
5,108
5,175
5,454
5,094
Domestic demand
_ ...
.do
3,339
3,822
3, 511
3, 907
3,322
3,012
3,115
3,539
3,691
3,550
3,850
3,632
Stocks, refinery, end of month
do
7,145
7,427
6,973
6,950
7,849
7,283
8,386
3,160
8,209
8,393
8, 451
8,444
2
2
2
2
2
2
2 1, 101
Exports
_
do.
1, 099
2 1, 281
2992
2 1, 402
1, 222
2934
1, 157
2 1, 377
1, 533
1, 477
1, 387
Price, wholesale, bright stock (midcontinent,
.199
.220
f. o b. Tulsa)t
dol. per gal
.268
.255
.282
.270
.290
.290
.290
.290
.290
.290
.290
T
Revised.
1 The comparability of the data is slightly
allected in I£ay and J line 1951 b y substitut ions in the reporting companies . Prices on new basis: Mine ruia— April 1£ 51, $8.916;
2
May 1951, $9.088; prepared sizes, May 1951, $9.414.
Excludejs "special category" exports no ; shown se parately fo r security r easons.
cf Includes stocks of heavy crude in California.
fRevised series. Beginning in the July 1950 Su BVEY, the oil owing p rice series have been substitute I for those previously shown: C rude petro eum, 36°-;J6.9° gravit y (former £ eries, 33°33.9°); distillate fuel oil, New York Harbor, No. 2 fue 1. bulk lots f. o. b. refi neries or te rminals, e>ccl. all fees and taxes ( former seri es, Pennsy Ivania, 36° -40° gravit y);lubrica ting oil, bn ght stock,
conventional, 150-160 viscosity D, 0-10 pour point, m dcontinen ;, excl. all f 3es and tax es (former series, cylirider, Pennj>ylvania). BeginningI in the Ap nil 1950 SuiIVEY, prices for kerose ne (N. Y.
Harbor, No. 1 fuel, f. o. b. refineries or terminals, ex cl. all fees and taxes) replace th ose for wat er white, ]Dennsylvailia. Data beginning 1935 for all series exc 3pt keroserie are show n on p. 20
of the March 1951 SURVEY; kerosene prices beginnin 1 1935 are s hown on p 24 of the .August 1950 SURVEY.
*New series. Compiled by the U. S. Departmen t of Labor, Bureau of .Labor Stati sties. Pric es are for t ulk lots, e xcluding al 1 fees and taxes (Okla homa, gro up 3). Da ta beginnirtg 1935 are
shown on p. 20 of the March 1951 SUEVEY; prices we re inadvert ently quot ed as dolla rs per gallc n instead c)f dollars p er barrel,
GNew basis. Beginning January 1950, coverag B was incre ased to inc lude one I]ast Coast terminal n ot previou sly reporti ng
SURVEY OF CUKKENT BUSINESS
S-36
September 1951
1951
1950
Unless otherwise stated, statistics through
1948 and descriptive notes are shown in the
1949 Statistical Supplement to the Survey
July
August
September
October
November
December
January
February
March
May
April
June
July
PETROLEUM, COAL, AND PRODUCTS—Continued
PETROLEUM AND PRODUCTS—Continued
Refined petroleum products— Continued
Motor fuel:
All types:
92, 710
Production, total
thous. of bbl._
87, 539
90, 917
91, 017
Gasoline and naphtha from crude petro82, 367
79,815
leum
thous. of bbl _.
80, 365
76, 939
15, 449
15,002
16, 476
15, 466
Natural gasoline and allied products do
Sales of 1. p. g. for fuel, etc., and transfers
5,106
5,374
4,350
4,866
of cycle products
thous. of bbl
8,510
7,506
9,302
Used at refineries .
do _ _
8,520
94, 537
91, 707
86, 766
89, 126
Domestic demand
do
Stocks, gasoline, _end of month:
99, 423
102, 769
97, 844
97, 904
Finished gasoline, total
do
56, 743
58, 891
55, 560
55, 676
At refineries
do_ _
7,644
7,844
8,286
7,920
Unfinished gasoline
do _
8,667
8,226
Natural gasoline and allied products do
8,730
8,581
1
1
1997
1, 452
Exports
do _
1, 853
1 1, 823
Price, gasoline:
Wholesale, refinery (Oklahoma), group 3
.103
.102
.104
dol. per gal__
.104
.147
.147
Wholesale, tank wagon (N. Y.)f
do
.145
.147
.203
.199
.205
.201
Retail, service stations, 50 cities
do
Aviation gasoline:
4,896
4,264
5,604
Production, total
thous. of bbl
5,107
4,152
4,247
3,929
3,320
100-octane and above
do
6,133
6,656
6,000
6,579
Stocks, total
do _
3,260
3,226
2,970
3,256
100-octane and above
do
Asphalt:
Production
short tons 1, 173, 300 1, 246, 000 1, 197, 600 1, 140, 200
790, 000
1, 051, 500
742, 400
Stocks, refinery, end of month.
_do
670, 200
Wax:
113, 960
114, 800
96, 320
107. 240
Production
__ thous. of lb._
151, 760
145, 880
135, 240
Stocks, refinery, end of month
do. ._ 161, 560
Asphalt products, shipments:
5,960
6,256
7,044
6,744
Asphalt roofing, total
thous. of squares...
Roll roofing and cap sheet:
1,372
1,333
1,553
1, 146
Smooth-surfaced
do_ __
1,219
1,347
1,481
1,528
Mineral-surfaced
do
4,191
3.594
3,575
3,663
Shingles, all types
_ do
166
136
176
209
Asphalt sidings
do
61, 021
64, 922
56, 157
59, 937
Saturated felts
._ .short tons..
87, 322
90, 945
94, 132
83,752
93, 378
87, 319
96, 811
96, 154
76, 808
16, 256
80, 229
17,241
83, 773
17, 314
74,335
15, 631
82, 140
17, 780
76, 826
16, 708
85, 691
16, 646
85, 417
15, 932
5,742
8,968
82, 718
6. 525
9,011
81, 063
6,955
8,045
80, 554
6,214
7,028
72, 717
6,542
7,997
86, 846
6 215
7,803
87, 430
5 526
8,274
100, 188
5, 195
7,586
96, 093
100. 995
57, 934
8,010
7.636
1
1, 486
108, 669
64, 276
8,100
7, 355
i 2, 109
120, 473
76, 160
8,006
7,474
1
1, 132
129, 537
84, 250
7,706
7,842
1
1,097
133, 465
85, 096
7,991
8, 109
1
1, 950
130 501
79, 357
8,687
8 522
1
1, 976
123 830
73, 652
8 431
9 079
1
2 239
119, 769
70, 363
7,826
10 043
1
2, 520
.104
.147
.202
.101
.147
.207
.104
.147
.206
.104
.147
.206
.104
.147
.205
.104
.147
.203
.104
.147
.200
.104
.147
201
5,468
4,198
7,215
3,802
5,909
4, 883
7,220
3,744
5,789
4,091
7,813
3,518
5,010
4,144
8,255
3,837
6,113
5,017
8,566
4,048
5,523
4 464
8,590
4 053
6 265
4 900
8,595
4 006
5,765
4 426
8,305
3 817
875, 500
785, 500
681, 500
643, 300
717,100
806, 500
915 600 1 123 600 1,205 600
962, 400 1, 108, 000 1,282,700 1, 468, 000 1, 572, 500 1, 546, 900 1, 459, 300
120, 120
135, 800
122. 080
141,120
6,306
1, 559
1,466
3,282
213
59, 335
124, 600
144, 760
108, 640
139, 440
122, 640
140, 840
122, 360
152, 600
131, 320
162 400
113, 680
168, 280
5,262
5,259
4,354
5,357
4,795
4,900
4,594
1,410
1,168
2,684
171
56, 481
1,352
1,241
2,666
202
71, 675
1,148
996
2,210
170
61, 158
1,290
1,203
2,864
193
71, 673
1,052
1,016
2,727
139
64,999
1,038
1 034
2,828
147
67, 044
961
1 025
2,608
124
51, 134
2,214
2 339
4,050
2,395
2 270
4,181
882, 722
890, 776
469, 658
848, 613
826, 618
490, 395
r
1, 400
188, 582
538, 139
' 191, 077
r 63, 253
34,908
210, 681
101, 000
.104
.147
.202
PULP, PAPER, AND PRINTING
PULP WOOD AND WASTE PAPER
Pulpwood:
Receipts
thous. of cords (128 cu. ft.)_.
Consumption
do
Stocks end of month
do
Waste paper:
Receipts
-short tons_.
C onsumption
do
Stocks end of month
do
WOOD PULP
Production:
Total, all grades
thous. of short tons
Bleached sulphate
short tons__
Unbleached sulphate
do
Bleached sulphite
.
.
do. _Unbleached sulphite
do
Soda
- do
Groundwood
do
Defibrated, exploded, etc _
do _ _
Stocks, own pulp at- pulp mills, end of month:
Total all grades
short tons
Bleached sulphate _
. do _ _
Unbleached sulphate
do. __
Bleached sulphite
do
Unbleached sulphite
.-do
Soda
- do.
Groundwood
do
Exports, all grades, total
Imports, all grades, total
Bleached sulphate
Unbleached sulphate .Bleached sulphite
Unbleached sulphite _.
Soda
Groundwood
.
do
do_
do
do
do
do
do
do
1,968
1,864
3,491
2,326
2,093
3,724
2,042
1,982
3,780
2,083
2,160
3,704
2,113
2,108
3,704
2,121
2,014
3,815
2,487
2,149
4,155
2,169
1,985
4,336
2,339
2,257
4,419
1,968
2,224
4,179
568, 893
560, 469
362, 209
711, 910
732, 001
348, 450
688, 843
687, 173
342, 677
776, 402
756, 727
377, 351
751,411
752, 065
362, 549
740, 953
715, 429
386, 552
818, 506
797, 339
412, 699
824, 075
840, 384
416, 826
904, 918
870, 516
450, 186
878, 247
850, 183
479, 554
1,166
144, 591
454, 886
160, 826
53, 735
41, 723
172, 495
80, 570
1,322
149, 488
513, 779
187, 933
63, 566
47, 382
193, 498
93, 800
1,232
144, 773
468, 025
171, 788
63, 712
43, 949
187, 878
86, 153
1,370
177, 134
529, 945
192. 824
67, 324
38, 128
204, 512
89, 124
1,326
168, 086
511, 043
187, 622
68, 734
36, 731
199, 068
86, 249
1,252
162, 222
467, 746
169, 696
68,152
34, 931
197, 756
84, 495
1,349
183, 559
526, 488
195, 541
67, 698
38, 821
215, 190
52, 000
1,238
163, 912
490, 986
177, 141
60, 351
35, 545
195, 426
50, 000
1,402
188, 992
551 605
197, 986
66, 461
38, 611
215 998
67,000
1,414
192, 303
540, 138
193, 598
68, 017
38, 122
209, 937
98, 000
1,484
198, 043
567 270
204, 644
65, 900
40, 607
222, 535
106, 000
102, 428
12, 886
8,804
21, 701
13, 313
1,314
35, 614
104, 631
13, 022
9,540
24, 558
12, 282
1,830
33, 580
93, 120
13, 595
9,415
18, 215
14,290
750
31,077
90, 386
14, 573
9,620
19, 446
13, 787
515
29, 309
87, 929
14, 424
9,659
18, 547
12, 854
683
29, 842
81, 974
10, 162
9,708
13, 534
12, 525
1,040
33, 043
90, 397
10, 515
9,441
20, 309
12, 354
597
35, 161
94, 466
12, 255
8,871
21,760
11, 502
648
37, 282
94, 753
13, 787
7,500
20, 129
11, 799
1,039
38, 261
100, 406
13,112
9,499
21. 632
13, 144
862
39, 953
102, 953 'r110, 894
12, 994
15, 363
10, 171 r 12, 911
24, 583 »• 26, 138
11, 158
* 10, 990
571
1,088
40, 487
40, 841
6,754
177, 749
29, 479
34, 330
47, 022
43, 018
2,707
20, 149
7,818
186, 225
35, 754
40, 953
46, 193
34, 465
3.205
24, 891
10, 223
192, 495
29, 312
34, 382
58, 365
44, 997
2,868
21, 708
6,479
207, 456
44, 529
36, 736
47, 779
53, 955
3,368
20, 080
8,882
208, 867
35, 204
28, 388
59, 107
52, 720
2,936
29, 675
18, 888
204, 658
35, 783
36, 472
57, 207
43, 220
2,614
28, 673
19 048
180, 732
41 549
22 080
46 365
r
40, 383
3,007
r
26, 451
r 24, 282
229, 223
50 949
38, 367
52 719
52, 363
2,995
30, 655
r
14, 761 r 14, 909
220, 197 'T207, 110
31, 725
53, 919
34, 478
40, 390
r
47
852
54,
707
r
55, 551 r 44, 898
2,357
3,114
r
33, 767 r 22, 717
T
r
11, 520
199, 584
36, 395
27, 134
52 128
46, 934
3,025
31, 722
r
r
r
r
r
1,329
184, 003
522, 480
175, 488
58, 586
29,921
197, 911
94, 500
111, 130
12, 826
13, 685
27, 001
12, 210
987
40, 852
19,531
232, 277
53 961
36, 683
49 634
57, 787
2,717
29, 489
PAPER AND PAPER PRODUCTS
All paper and paper board mills:
Paper and paperboard production, total
1,813
2,184
2,372
2,193
2,252
thous. of short tons_.
2,085
2,096
2,101
2,233
939
1,062
1,098
Paper (incl. building paper)
do
1,024
1,037
1,023
1,061
1,088
1,146
784
1,002
1,015
Paperboard
._
..
do
1,025
1,063
985
946
1,114
946
90
120
121
92
118
Building board. _ .
do
114
92
113
113
T
Revised.
1 Excludes "special category" exports not shown separately for security reasons.
fRe vised series. Beginning with the October 1950 SURVEY, prices have been revised to exclude Federal and State taxes; comparable figures
January 1951 SURVEY.
2,319
1,101
1 091
127
r
r
2, 406
1,148
1, 126
132
2 293
1, 111
1 059
123
for 1935-49 are shown on p. 24 of the>
SURVEY OF CURRENT BUSINESS
September 1951
Unless otherwise stated, statistics through
1948 and descriptive notes are shown in the
1949 Statistical Supplement to the Survey
S-37
1951
1950
July
August
S* October
November
December
February
January
March
April
May
June
July
PULP, PAPER, AND PRINTING—Continued
PAPER AND PAPER PRODUCTS—Con.
Paper, excl. building; paper, newsprint, and paperboard (American Paper and Pulp Association) :f
Orders, new
short tons._
Orders unfilled end of month
do
Production
do
Shipments
do_ _
Stocks end of month
do
Pine paper:
Orders, new
do
Orders unfilled end of month
do
Production
do _ _
Shipments
do
Stocks, end of month
do
Printing paper:
Orders, new
do
Orders unfilled, end of month
do
Production
-do
Shipments
do
Stocks, end of month
__
_ _ do.
Price, wholesale, book paper, "B" grade, English finish, white, f. o. b. milL.dol. per 1001b__
Coarse paper:
Orders new
short tons
Orders, unfilled, end of month
do
Production
do
Shipments
do
Stocks end of month
do
Newsprint:
Canada (incl. Newfoundland) :c?
Production
•*.
do
Shipments from mills
do
Stocks, at mills, end of month
do _ _
United States:
Consumption by publishers
do
Production
do
Shipments from mills __ __
do
Stocks, end of month:
At mills
do
At publishers
do _
In transit to publishers
do
Imports
- do
Price, rolls (New York)
dol. per short ton__
Paperboard (National Paperboard Association) :
Orders, new
short tons
Orders, unfilled, end of month _ _ __ _ _ _ __do
Production, total
- .
do
Percent of activity
..
Paper products:
ShiDping containers, corrugated and solid fiber,
shipments
mil. sq. ft. surface area__
Folding paper boxes, value:
New orders
1936=100__
Shipments
do _
886, 155 T 889, 173
848, 000
r 988, 500 rr 984, 685 1 , 035, 765
r 909, 757
891, 487
808, 000
r 901, 561 ' 893, 075 796, 000
312, 065
r 301, 420 r 299, 862
916, 494
747, 500
716,851
723, 563
330, 201
974, 653
876, 300
837, 275
845, 813
320, 572
852, 625
913, 297
806, 044
815, 574
310, 663
870, 578
912, 860
866, 740
870, 994
305, 900
815, 448
877, 359
847, 408
852, 096
300, 855
821, 664
858, 760
825, 242
840, 249
285, 368
937, 879
932, 405
871, 450
862, 728
295, 545
821, 801
884, 769
821, 858
817, 717
292, 998
964, 941 rr 905, 445
984, 495 r1,013,760
917, 112
875, 512
916, 683 rr 877, 033
293, 423
293, 832
135, 150
110, 150
83. 586
86, 350
78, 654
149, 100
143, 200
111, 310
116, 050
74, 115
114, 207
145, 772
106, 764
111, 635
69, 450
115, 272
147, 840
112, 207
113, 203
68, 655
102, 770
138, 575
110, 119
112, 035
66, 760
102, 340
131, 785
104, 131
109, 129
61, 783
118, 960
139, 145
111,113
111,600
61, 295
103, 864
146, 200
99, 753
96, 800
64, 245
110, 114 ' 119, 245 ' 106, 722
140, 035 r 147, 000 ' 137, 190
115, 661 ' 113, 501 ••117,785
116, 276 «• 112, 245 ' 117, 570
63, 630 ' 64, 885 ' 64, 470
114, 065
130, 880
117, 902
120, 372
62, 000
112, 000
144, 500
101, 000
98, 000
65, 000
309, 465
319. 735
238, 532
239, 608
116, 635
354, 658
387, 600
286, 288
286, 755
116, 225
307, 738
414, 165
280, 203
281, 172
115, 310
290, 525
406, 900
296, 292
297, 782
113, 870
284, 615
395, 050
290, 561
296, 460
107, 860
288, 546
393, 160
287, 910
290, 427
105, 230
338, 465
436, 520
299, 097
295, 103
109,225
279, 128
384, 199
281, 526
281, 062
109, 689
351,015
475, 400
312, 477
310, 190
111, 975
311, 555
489, 770
296, 203
297, 185
110, 990
304, 873
496, 500
291, 385
290, 528
113, 787
284, 000
511, 000
268, 000
269, 000
113, 000
12. 65
12.65
11.65
11.65
11.78
12.15
12.15
12.53
12.65
12.65
312, 314
216, 315
258, 575
260, 790
84, 382
300, 665
227, 570
286, 396
289, 407
81, 352
276, 858
227, 700
273, 636
276, 705
78, 265
298, 200
231, 200
292, 751
294, 692
76, 305
281, 340
224, 050
292, 380
288, 472
80, 115
277, 572
215, 870
279, 967
285, 750
74, 240
302, 740
229, 830
293,119
288, 775
78, 585
274, 607
227, 800
275, 284
276, 635
77, 233
315, 065 r 291, 940
234, 820
239, 175
306,009 'r 285, 683
308, 044
287, 582
73, 295
75, 198
439, 255
463, 339
135, 873
466, 443
417, 589
184, 727
437, 579
485, 165
137, 141
456, 443
465, 253
128, 331
456, 743
477, 708
107, 366
430, 551
448, 775
89, 142
453,019
423, 343
118,818
425, 097
400, 833
143, 082
472, 963
473, 503
142, 542
336, 759
86, 127
85, 433
346, 795
92, 877
92, 950
373, 788
86, 411
85, 809
420, 786
91, 305
92, 779
407, 943
87, 980
85, 141
398, 309
85, 355
87, 776
345, 552
92, 691
92, 991
336, 568
84, 381
84, 896
8,768
339, 424
93, 140
415, 424
100. 00
8,695
376, 900
81, 095
367, 604
100. 00
9,297
372, 943
94, 271
419, 123
100. 00
7,823
356, 782
88, 332
449, 183
100. 00
10, 662
334, 783
98, 499
385, 659
106. 00
8,241
328, 018
96, 942
418, 044
106. 00
7,941
346, 258
93, 866
399, 333
106. 00
7,426
331, 440
111,019
333, 867
106. 00
983, 300 1, 204, 500
524, 400
729, 100
816, 900 1, 017, 300
82
100
977, 800 1, 039, 000 1, 019, 900
694, 700
714, 900
722, 000
954, 400 1, 023, 400 1, 012, 700
102
96
101
876, 700 1, 177, 200
761, 800
617, 200
940, 500 1,056,600
95
102
r
r
' 307, 316
' 482, 155
' 306, 518
' 304, 555
' 112, 930
12.65
12.65
f 295, 860
' 236, 325
r 302, 948
'r 298, 287
78, 005
297, 480
228, 315
305, 938
305, 490
78 485
285, 000
242, 315
278, 000
271, 000
85, 485
447, 551
443, 288
146, 805
485 723
486, 340
146, 188
464 332
475 034
135, 486
452 455
442, 966
144, 975
394, 387
94, 015
92, 630
410, 723
88, 888
90, 740
403, 233
96, 420
93, 422
365, 324
94, 073
97, 016
333, 440
88, 441
86, 835
8,811
349, 308
95, 893
449, 037
106.00
6,959
322, 750
95, 340
396, 897
106. 00
9,957
332, 601
86, 522
439, 586
106. 00
7,014
358, 294
94 331
432 505
106. 00
8 620
393, 718
106 727
987, 900 1, 119. 300 1, 019, 300 1, 112, 100
962, 700
758, 600
704, 900
646, 900
658, 700
548, 000
975, 100 1, 107, 300 1,049,100 1, 128, 200 1, 058, 500
105
104
105
104
103
933 000
537, 600
890 000
84
12.65
r
116. 00
6,075
7,653
7,229
7,679
7,289
7, 105
7,577
6.618
7,965
7,315
7,288
6,410
5,238
586.9
424.1
904.5
603.3
745.0
619.9
731.2
671.7
710.7
666.1
690.5
668.6
904.1
738.9
875.6
725.8
879.4
851.9
737.7
778.4
699.3
815.4
613.3
755.5
588.1
599 3
850
650
200
766
618
148
962
816
146
1,138
877
261
1,028
811
217
1,157
915
242
776
601
175
793
613
180
1,130
861
269
878
678
200
969
759
210
1,145
879
266
751
549
202
37, 572
87, 242
54, 687
35, 335
76, 312
63, 053
39, 508
71, 679
54, 963
42, 445
68, 498
42, 371
PRINTING
Book publication, total
New books
New editions
- number of editions- .
do
do _ _
RUBBER AND RUBBER PRODUCTS
RUBBER
Natural rubber:
Consumption
long tons_.
Stocks, end of month
do
Imports, including latex and guayule
do
Price, wholesale, smoked sheets (New York)
dol. per lb_.
Chemical (synthetic):
Production
long tons
Consumption
_
do
Stocks, end of month
do
Exports
do
Reclaimed rubber:
Production
_
do
Consumption
do
Stocks, end of month
_.
do
61, 402
93, 653
62, 004
61. 281
87, 409
61, 153
64, 297
87, 146
72, 703
69, 178
83, 215
78, 740
51, 340
81, 658
73, 393
44, 999
89,215
69, 261
44, 586
93, 079
92, 454
' 39, 998
68, 369
56, 623
r
35, 756
68 153
.384
.521
.558
.638
.732
.714
.735
.734
.722
.675
.660
.660
.520
43, 820
43, 687
67, 085
724
43, 950
50, 379
63, 654
631
44, 460
49, 550
59, 059
645
44, 690
54, 507
51, 751
678
48 417
48, 261
51, 636
581
52, 199
53, 364
52, 758
749
60 952
58, 584
55, 453
577
56 415
53, 308
59, 035
620
65, 286
65, 587
60, 614
533
66 414
58, 787
65 793
585
70 541
65, 027
70 276
617
74 188
r
64 718
r
78 154
573
76 250
62 025
90 266
24, 374
22, 377
30, 371
27, 312
26, 151
31, 793
29, 648
29, 250
33, 395
32, 685
32, 785
33, 530
30, 171
30, 260
33, 960
32, 480
29, 905
35, 708
32, 924
32, 455
35, 843
30, 402
28, 792
36, 885
35, 094
32, 678
38, 334
34, 293
32 428
39, 064
35 051
34 148
39, 098
r
r
r
30 119
25 728
44 653
8,297
12, 002
3,884
8,011
106
7,004
*73
8,194
10, 579
4,093
6,369
116
4,794
'75
7,833
8,216
3,813
4,292
111
4,374
1
107
8,667
8,684
3,783
4,750
151
4,382
1
108
7,521
7,494
3,214
4,130
150
4,810
1
152
6,819
7,562
3,245
4,188
129
3,794
J
116
6,764
6,961
3,035
3,812
114
3,552
1
99
5,887
6,174
3 002
3,058
114
3,307
1
79
6 693
7,235
3 620
3 493
123
21 804
120
6,540
6,255
2 755
3,412
88
3,047
1
106
7 116
6,730
2 692
3 911
127
3 442
i gg
222
185
603
439
143
r
3 512
i ng
6 734
6 602
2 361
4' 126
115
3 586
6,936
9 738
8,422
33
7,263
9 257
6,619
33
7,093
7,586
6, 198
50
7,886
7 378
6,400
68
6,629
6 099
6,963
102
6,035
6 379
6 725
77
5 950
6 595
5 852
56
5 144
5 910
5 154
36
5 828
6 593
4 595
58
5 566
5 593
4 657
63
5 625
5 585
5 071
52
r 5 3gi
r 5 500
5 178
5 072
5 685
-
33 509
30 999
40' 268
TIRES AND TUBES
Pneumatic casings:
Production
Shipments, total
Original equipment
Replacement equipment
Export
Stocks, end of month
Exports
Inner tubes:
Production
Shipments
Stocks, end of month
Exports
_
r
thousands
do
do
do
do
do
do
do
do
do
do
7
7
2
4
r 5 311
63
l
Revised.
Excludes "special category" exports not shown separately for security reasons.
cfData for 1937-48 (incl. Newfoundland) are shown on pp. 22 and 23 of the May 1950 SURVEY. Further revisions for stocks at mills, end of December, are shown at bottom of p. S-37 of
the June 1950 SURVEY.
fRe vised data for 1948-49 will be published later.
SURVEY OF CUERENT BUSINESS
S-38
Unless otherwise stated, statistics through
1948 and descriptive notes are shown in the
1949 Statistical Supplement to the Survey
September 1951
1951
1950
July
August
September
October
November
December
January
February
March
April
May
June
July
184,326
206, 940
179, 507
191, 138
162, 002
161,093
15,201
76
11, 294
22, 127
7,097
18, 708
82
17,692
23,139
8,036
20.184
91
20,953
22, 363
8,194
21, 925
96
24, 894
19, 390
7,482
21, 984
99
24,935
16,
439
r
6, 682
22, 439
98
24, 266
14, 612
5,563
422, 134
408, 766
534, 077
550, 274
553, 468
552, 881
605, 304
599, 905
600, 516
577, 686
STONE, CLAY, AND GLASS PRODUCTS
ABRASIVE PRODUCTS
Coated abrasive paper and cloth, shipments reams. _
151, 278
258, 575
206, 809
197, 500
177,371
155, 823
20,709
94
23,167
12, 848
6,388
21, 884
99
25, 144
9,608
4,900
20, 945
98
22, 910
7,642
4,029
22, 461
102
24, 167
5,945
2,852
20,226
95
19, 791
6,382
2,962
19, 116
87
12, 477
13, 018
3,925
578, 226
599, 337
646, 626
675, 227
604, 826
630, 472
659, 927
660, 309
606, 726
590, 905
499, 694
450, 800
189, 440
PORTLAND CEMENT
Production
Percent of capacity
Shipments
_
__
Stocks, finished, end of month
Stocks, clinker, end of month
thons. of bbl...
thous. of bbl__
do
do
r
17, 434
79
12, 237
18, 222
5,473
CLAY PRODUCTS
Brick, unglazod:
Production t
thous of standard brick
Shipments^
do
Price, wholesale, common, composite, f. o. b. plant
dol. per thous..
Clay sewer pipe, vitrified:
Production t
short tons
ShiDment^t
do
Structural tile, unglazed:
Production^
do
Shipments^
do
480, 607
470, 730
25. 032
25. 208
25. 616
25. 866
26. 057
26. 378
26.549
26. 589
26. 602
26. 588
26. 591
26. 604
136, 780
153, 788
154, 284
163, 664
155, 678
152, 847
154, 904
156, 610
131, 668
129, 489
127, 951
114, 439
137,211
124, 503
122, 046
96, 487
139, 653
125, 328
142, 356
134, 777
144, 666
141, 774
138, 922
137, 142
118, 564
125, 376
119, 340
136, 438
115, 975
120, 108
119, 729
119, 054
105, 879
104, 304
95, 265
85, 471
108, 816
103, 293
98, 593
89, 645
110, 146
108, 738
105, 268
108, 653
106, 045
108, 866
104, 547
105, 045
8,870
9,141
9,133
11, 132
8,673
10, 437
10, 612
8,967
9,451
8,104
9,321
9,153
10, 279
9,499
9,201
8,563
10, 987
10, 250
11, 075
9,583
10, 849
10,390
10, 489
9,847
26. 604
GLASS PRODUCTS
Glass containers:
Production .
thous. of gross
Shipments, domestic, total
_do _.
General-use food:
Narrow -neck food
do
Wide-mouth food (incl. packers' tumblers)
thous. of gross..
Beverage (returnable and nonreturnable)
thous. of gross..
Beer bottles
do
Liquor and wine
_ _ ___ ._
do
Medicinal and toilet
do
Chemical, household and industrial
do
Dairy products
do
Fruit jars and jellv glasses
do
Stocks, end of month..
do ._
Other glassware, machine-made:
Tumblers:
Production
_. thous. of dozens
Shipments
do
Stocks
_.
do
Table, kitchen, and householdware, shipments
thous. of dozens. _
844
1,170
1,572
953
669
786
835
931
1,116
1,067
999
* 2, 476
3,204
2,672
i 2, 474
i 2, 145
i 2, 272
i 2, 410
i 2, 129
i 2, 472
i 2, 332
i 2, 666
845
700
1,095
1,909
649
290
1333
8,931
492
669
1,551
2,501
819
385
342
6,743
305
582
1, 343
2,576
822
369
197
4,865
340
563
1,275
2,228
779
354
0)
6,123
325
459
1,257
2,235
687
327
0)
7,079
654
532
1,317
2,397
791
404
0)
6,776
457
450
1,543
2,637
844
324
1
C)
7,240
345
541
1,425
2,183
724
285
1
C)
7,631
447
978
1,302
2,740
883
313
0)
8,091
617
1,190
931
2,389
823
235
(0
9,293
5,209
5,264
8,667
6,548
7,222
8,091
5,925
6,070
8,118
6,994
5,498
8,877
5,876
6,107
9,593
5,702
5,253
9,887
6,959
6,831
9,602
6,506
6,132
9,940
7,570
7,156
10, 340
2, 530
3,671
3,356
3,846
3,313
3,218
3,667
3,364
3,998
10, 355
9,392
908
738
2, 410
i 2, 416
803
1,468
880
2,426
878
271
0)
9,426
969
1,786
730
1,965
823
255
(0
9,714
858
1,848
746
1,825
695
266
C1)
10, 375
7,534
6,851
10, 933
7,292
6,760
11,381
6,384
5,737
11, 974
5,560
5.733
11, 769
3,439
3,408
2,682
2,766
13, 149
11,905
27, 048
12, 925
10, 985
' 29, 008
12, 205
11, 446
30, 208
9,198
9,098
30, 308
1
GYPSUM AND PRODUCTS
Crude gypsum, quarterly total:
Imports
thous. of short tons
Production
do
Calcined production quarterly total
do
Gypsum products sold or used, quarterly total:
TJncalcined
short tons
Calcined:
For building uses:
Base-coat plasters
do
Keene's cement
do
A.11 other building plasters
do
Lath
thous. of sq. ft__
Tile
do
Wallboardcf
do
Industrial plasters
short tons
1,105
2,199
2 049
967
2,355
1,950
613
2,102
1,838
580, 024
626, 833
660, 470
693, 948
15 863
156, 429
761, 573
13, 449
759, 260
595, 988
15, 200
147, 409
754, 849
12, 012
807, 734
512, 238
14, 328
137, 878
710, 197
10, 002
849, 933
66 674
74 208
73, 186
TEXTILE PRODUCTS
CLOTHING
Hosiery:
Production
thous. of dozen pairs _ _
Shipments
do _
Stocks, end of month
do
10, 295
11, 429
27, 480
14, 986
16, 584
25,882
14, 194
15, 590
24, 486
14, 874
15, 791
23, 569
15,000
14, 796
23, 774
12, 817
11, 842
25, 456
r
14, 971
14, 637
25, 934
14, 337
14, 601
' 25, 633
T
14, 736
14, 621
25, 780
r
r
COTTON
Cotton (exclusive of linters) :
Production:
'859
2,770
3 2, 014
Ginnmgs§
thous. of running bales
6,459
8,793
2 9, 908
283
9,200
9,678
Crop estimate, equivalent 500-lb. bales
thous. of bales..
2 10, 012
* 17, 291
980, 906
Consumption^
_ _ bales. 606, 878 807, 840
968, 484 835, 155 1,008,872
784, 057 1,040,891
894, 602
911, 654
832, 612
767, 282
818, 714
Stocks in the United States, end of month,
6,846
5,059
total^l
thous of bales
11,366
7,852
3,786
15, 087
13, 771
12, 681
10, 174
8 681
6 373
2 887
6,749
11,311
4, 957
Domestic cotton, total
do
12, 613
7,764
15, 001
13, 695
10, 117
3,667
2 777
8,638
6,261
278
On farms and in transit
. _ do
2,538
1, 512
350
9,374
7,643
4,816
792
388
881
60
50
6,984
2,406
5,161
1,586
Public storage and compresses
do
4,545
6,651
4.603
1 031
4,871
6,358
5 626
3,560
618
2,274
2,021
Consuming establishments __ _ _
do
1,789
1,082
1,439
1,312
1,238
1,181
1,955
2,281
2,313
2,220
1,696
102
54
102
118
Foreign cotton, total
do
86
76
44
88
110
115
98
68
57
r
Revised.
* Data for wide-mouth food containers include jelly glasses in July 1950, and both jelly glasses and fruit jars beginning October 1950.
2 Total ginnings of 1950 crop.
3
Ginnings to September 1.
* September 1 estimate of 1951 crop.
J Data revised for 1950. Revisions for January-April will be shown later.
cf Includes laminated board, reported as component board.
§ Total ginnings to end of month indicated.
1 Data for September, November 1950 and January, April, and July 1951 cover 5-week periods and for other months, 4 weeks; stock data are for end of period covered.
SURVEY OF CURRENT BUSINESS
September 1951
Unless otherwise stated, statistics through
1948 and descriptive notes are shown in the
1949 Statistical Supplement to the Survey
S-39
1951
1950
July
August
September
October
November
December
January
February
March
April
May
June
354, 302
3,114
42.7
480, 085
9,740
43.2
371, 417
16, 102
42.5
204, 006
18 412
42.0
39.11
45.1
45.2
45.2
July
TEXTILE PRODUCTS—Continued
COTTON—Continued
Cotton (exclusive of linters)— Continued
Exports
bales__
Imports
do
Prices received by farmers. __
cents per lb__
Prices, wholesale, middling, ^o", average, 10
markets
_ cents per Ib
Cotton linters :^
Consumption
._
__ __thous. of bales
Production
do
Stocks, end of month
do
264,982
2,332
33.1
355, 975
4,730
37.0
372, 381
22, 732
40.0
283, 816
11, 889
38.9
371, 870
9,118
41.1
448, 561
6,407
40.4
316, 626
2,342
41.3
37.1
38.1
40.7
39.8
42.2
42.6
44.2
45.2
40.1
115
49
436
149
68
340
124
132
337
129
207
409
118
189
461
110
145
518
116
151
542
110
105
542
125
77
517
111
52
468
115
36
398
96
31
327
90
21
260
35, 935
1,905
45, 633
2,918
2,398
50,973
2,570
50, 162
2,796
' 45, 389
4,608
2,639
53, 256
3, 597
57, 472
4,948
57, 643
10 223
2,835
79, 574
7,486
73, 942
3,950
72, 409
4,807
73, 786
2,614
35.96
32.6
17.5
18.5
43.58
34.5
19.8
21.8
48.69
36.0
22.4
23.8
49.36
36.4
21.5
24.5
48.39
37.8
21.9
24.8
50.21
38.3
22.5
25.0
50.12
38.3
22.9
25.0
(i)
23 0
25.0
49.80
(i)
23.0
25.0
45.60
(i)
20.6
25.0
42.57
39.4
19.4
25.0
.671
.840
.776
.925
.833
1.007
.851
1.072
.877
1.147
.887
1.166
.917
1.172
.921
1.176
.921
1.176
.921
1.176
'21,790
•• 20, 518
'7,770
'409
7,307
r
l!2 2
21, 845
20, 540
10, 333
517
9,711
140.2
21,945
20, 609
12, 638
516
11, 860
139.7
22, 149
20, 758
10, 713
542
10, 041
146.9
22, 153
20, 751
12, 979
530
12, 171
143.2
22, 084
20, 730
9,942
523
9,376
141.3
22, 292
20, 900
13, 273
542
12, 459
145.9
22, 221
20 885
11, 069
563
10 394
152 0
22, 246
20 957
11, 083
554
10, 436
149.7
79.7
25 8
85.1
27.6
79.0
25.5
82.5
25.4
80.5
25.6
86.9
29.4
79.0
25.7
75.0
25.0
13 1
4 6
6,653
10.5
3.9
7,463
10.0
2.8
8,960
10.5
3.7
12, 457
11.2
3.5
12, 958
6.1
2.0
11, 845
10.3
3.8
12,075
.732
.355
.740
.370
.755
.370
.760
.370
.760
.370
.770
.400
1 033
902
1,307
1,500
1,152
727
3.05
3.42
3.40
3.51
3.72
4.11
28, 816
9 608
68, 787
38, 948
15, 768
74, 833
38, 695
18 380
51, 917
28,896
14 364
42, 994
40, 255
16,590
73, 139
1.800
.702
2.045
.778
2.481
.892
2.540
.973
3
8
2. 650
1. 131
3
3
1.775
1. 965
2.725
2. 560
8
2 600
8
70
1,933
26
102
2,391
30
105
2,346
18
119
2.502
17
106
2 346
13
133
2 275
15
101
51
172
83
160
81
177
92
172
85
74, 410
85, 975
167
96, 134
115, 302
233
87, 513
115, 284
227
91,915
120, 695
233
51, 064
5,964
34, 8fiO
10, 240
69, 848
8,384
44, 796
16, 668
81, 815
9,585
52, 970
19, 260
69, 736
7.832
44, 180
17, 724
428, 599
93, 800
41.8
l
()
COTTON MANUFACTURES
Cotton cloth:
Cotton broad-woven goods over 12 inches in width,
production, quarterly
mil. of linear yards
Exports
_
__ thous. of sq. yd__
Imports
do ^
Prices, wholesale:
Mill margins J
__
_ cents per lb__
Denim 2 8-inch
cents per yd
Print cloth, 38H-inch, 64 x 60 ..
_..do.
Sheeting, unbleached, 36-inch, 56 x 60_.do
Cotton yarn, Southern, prices, wholesale, mill:
22/1, carded, white, cones. _
dol. per lb_.
40/1, twisted, carded, skeins-__
do
Spindle activity (cotton system spindles) :J
Active spindles, last working day, total. _thous_.
Consuming 100 percent cotton
do
Spindle hours operated, all fibers, total .mil.of hr_.
Average per working daycf
do
Consuming 100 percent cotton
do _
Operations as percent of capacity
r
r
r
39. 77
41 0
19.0
(0
38. 77
39 $
16. a
C)
.915
1.176
.867
1.127
0)
1.058
21,134
19 903
12, 447
505
11, 699
136 4
21, 770
20, 516
10, 399
533
9,768
144.1
22, 145
20 910
10, 287
514
9,677
138 9
22, 128
20 871
9,858
411
9 241
110 7
85.9
27.0
80.0
26 9
82.0
28.9
r 26 0
10.5
38
8,581
8.4
4.0
7,373
10 1
36
8,770
11.3
4 7
5, 311
12 7
4 2
9 696
19 4
4 9
.780
.400
.780
.400
.780
.400
780
.400
780
.400
780
*400
780
400
748
628
576
499
395
5. 62
»5.21
29, 656
13, 248
50, 179
27, 944
12 716
66 761
r
42 940
r 12 270
r 74 711
33 672
7 200
55 243
3. 340
1. 420
3
3
3. 600
1.535
8
33.338
1.325
3.130
1.236
3. 240
8
3. 450
33 600
3 3 275
136
2 272
20
145
1 984
22
153
1 852
22
162
87
163
85
164
86
168
88
78, 103
110, 948
191
76, 483
102, 780
176
78, 464
* 108, 779
194
76, 480
8 105
48. 075
20,300
59, 664
6,084
37, 480
16 100
* 77, 785
8 300
48, 440
4 21 045
OQ O
RAYON AND MANUFACTURES AND SILK
Rayon yarn and staple fiber:
Consumption:
Filament varn
mil. of Ib.
Staple
fiber
do
Stocks, producers', end of month:
Filament yarn.
do
Staple
fiber
do
Imports
thous. of lb..
Prices, wholesale:
Yarn, viscose, 150 denier, first quality, minimum
filament
dol. per Ib
Staple fiber, viscose, 1^6 denier..
do .
Rayon broad-woven goods, production, quarterly
thous. of linear yards
Silk, raw:
Imports
thous. of Ib
Price, wholesale, Japan, white, 13/15 (N. Y.)
dol. perlb..
WOOL
Consumption (scoured basis) :§
Apparel class
thous. of lb_.
Carpet class
-do
Imports.
do
Prices, wholesale, Boston:
Raw, territory, 64s, 70s, 80s, scoured. _dol. perlb
Raw, bright fleece, 56s, greasy, 47 percent shrinkage
dol. per Ib
Australian, 64s, 70s, good topmaking, scoured, in
bond
-_
-.
.
dol. per Ib
569, 460
r
r
44, 390
18,360
57, 006
602 000
r
38, 004
16, 704
49, 356
r
2.469
.909
8
2. 515
8
630 093
2
2
5.35
2
5. 62
r
79 0>
27 9
83 5
598 000
3. 750
1.564
2
375
2
4. 58
4. 37
2
4. 30
33 200
6 400
44 005
3
2. 850
1.125
32.600
.982
3 3 010
3 2 825
3 2 450
124
r 2 258
21
140
2 196
25
145
2 252
18
148
73
120
64
116
64
76 926
111 730
200
75 209
4 104 256
185
79 102
100 875
184
WOOL MANUFACTURES
Machinery activity (weekly average) :§
Looms: O
Woolen and worsted:
Pile and Jacquard
thous. of active hours. .
Broad
do
Narrow
do __
Carpet and rug:
Broad
_
do
Narrow
do
Spinning spindles:
Woolen
do
Worsted
do. .
Worsted combs
do
Wool yarn:
Production, total§
thous. of lb_.
Knitting§
._
__
do
Weaving!
_
do
Carpet and otherf
do
Price, wholesale, worsted yarn (Bradford
weaving system) 2/32s
dol. perlb._
4
4
76, 973
95, 260
164
60, 268
7 312
37 048
15 908
4
4
4
4
73, 704
89, 941
139
57, 744
6 816
35 460
15 468
4
4
r
4
r4
7 6 445
4 g 655
r 4 50 235
17 555
4 59
46
4 41
11
076
624
040
412
4 59
45
4 41
12
200
goo
200
400
4.125
3.665
2.975
4.175
2.975
4.175
4.754
J
2
Revised.
No quotation.
Substituted series. Data beginning
January 1951 represent a composite wholesale price for raw silk, Japan, white, 20-22 denier, 87 percent, AA grade
4
tested; December 1950 quotation, $4.55.
3 Nominal price.
Includes operations on the American system in cotton mills which were previously reported as cotton-system spindle
operations; data beginning 1951, therefore, are not strictly comparable with earlier figures. For January 1951, the activity of these spindles not previously attributed to the worsted-system
amounted to approximately 5.3 million active hours weekly and 1.2 million pounds of yarn spun.
UDatafor September, November 1950 and January, April, and July 1951 cover 5 week periods and for other months, 4 weeks; stock data and number of active spindles are for end of
period covered.
{Scattered monthly revisions beginning 1944 (to incorporate new quotations for two constructions previously included at OP A ceiling prices) are available upon request.
cf Substituted series. See note marked "cf" at bottom of p. S--39 of the July 1950 SURVEY.
§ Data for September, November 1950 and January and April 1951 cover 5-week periods; other months, 4 weeks. O Beginning 1951, looms weaving fabrics principally wool by weight.
r
SURVEY OF CURRENT BUSINESS
S-40
Unless otherwise stated, statistics through
1948 and descriptive notes are shown in the
1949 Statistical Supplement to the Survey
September 1951
1951
1950
July
August
Septem-
ber
October
Novem-
ber
Decem-
ber
January
Febru-
ary
March
April
May
June
July
TEXTILE PRODUCTS—Continued
WOOL MANUFACTURES—Continued
Woolen and worsted woven goods, except woven
felts: f
Production quarterly total
thous of lin yd
Apparel fabrics total
do
Government orders
do
Other than Government orders, total do
Men's and boys'
do
Women's and children's
do
Nonapparel fabrics, total
do
Blanketing
do
Other nonapparel fabrics
do_
Prices, wholesale, f. o. b. mill:
Suiting unfinished worsted 13 oz dol per yd
Women's dress goods, flannel, 8 oz., 54-inch
dol per yd
110, 179
93, 310
4.418
88, 892
43, 397
45 495
16, 869
5,011
11, 858
11104, 953
89 850
1
1, 293
i1 88, 557
41, 158
i 47 399
15, 103
i 4, 987
1 10, 116
95, 724
81, 776
9,536
72, 240
38, 071
34 169
13, 948
5,025
8,923
3.255
3.440
4.084
4.306
4.306
4.306
4.306
2.524
2.624
2.772
2.846
2.846
2.846
2.846
96,700
79 800
23, 500
56, 300
29, 600
26 700
16, 900
8,000
8,900
3.514
3.514
3.302
3.302
216
66
3 302
TRANSPORTATION EQUIPMENT
AIRCRAFT
Civil aircraft, shipmentsd"
Exports}
321
94
354
48
301
84
204
40
242
54
305
85
255
114
239
60
273
78
247
64
248
96
number. _
do
do
do
do
do
do ._
706, 702
397
818, 123
457
722. 842
423
760, 566
553
603, 567
584
640, 925
664
606, 833
661
618, 321
521
755, 022
829
639, 272
819
652, 727
742
595, 067
581, 069
111, 238
98, 603
682, 782
669, 550
134, 884
121, 303
616, 827
602, 423
105, 592
93, 378
651, 169
635, 544
108, 844
97, 116
504, 445
490, 855
98, 538
80, 832
521, 371
507, 120
118, 890
103, 522
478, 589
459, 567
127, 583
109, 262
505, 865
481, 239
111,935
94, 834
do
do
do
24, 807
12, 775
12, 032
24, 927
11, 286
13, 641
22, 724
10, 906
11,818
23, 070
12,399
10, 671
27, 546
13, 826
13, 720
23, 976
11, 481
12, 495
28, 589
12, 439
16, 150
do
do
__ _ d o _ ..
do
. do. __
3 5, 798
3 5, 605
3 3, 316
32,289
3193
2
2
2
2
2
6, 770
6, 533
3, 944
2, 589
2
237
2 6, 741
22 6, 504
3, 969
2 2, 535
2
237
2
2
2
2
2
2
2
2
2
2
2
do
do
609, 926
117, 040
683, 995
126, 533
625, 755
113, 750
580, 373
101, 169
444, 193
84, 142
552, 259
89, 273
472, 766
88,058
3,474
2,148
2,148
1,326
94
93
93
1
5,203
2,787
2,787
2,416
104
102
102
2
5,131
2,395
2,395
2,736
70
63
63
7
5,501
2,444
2,444
3,057
71
71
71
0
5,791
3,352
3,352
2,439
58
58
58
0
5,701
3,966
3,965
1,735
54
54
54
0
1,722
1,719
1,719
1,717
1,717
123
7.1
62, 124
37, 342
24, 782
108
6.3
76, 582
48, 220
28, 362
102
5.9
94, 557
63, 485
31,072
98
5.7
107, 994
76, 279
31, 715
93
5.4
110, 781
79, 493
31, 288
3,166
12.1
3,239
12.4
3,218
12.4
3,135
12.3
22
0
22
21
0
21
20
0
20
19
0
19
1,110
1,110
0
1,367
1,367
0
1,419
1,419
0
69
10
59
53
8
45
199
177
22
237
216
21
number
do
MOTOR VEHICLES
Factory sales, total
Coaches, total
Domestic. Passenger cars, total
Domestic
. - _.
Trucks, total
Domestic.
_
_ _ _ __ _
Exports, total}
Passenger cars
Trucks}
Truck trailers, production, total
Complete trailers.
Vans
All other
Chassis shipped as such
._
Registrations:
New passenger cars
New commercial cars
291
374
6, 614
2 6, 435
23,735
2
2, 700
2179
r
617, 685
838
492,311
665
630
381, 407
359, 276
110, 239
91, 512
764
702
617, 399
588, 435
136, 794
118, 235
503, 038
475, 316
135, 415
117, 483
511, 938
482, 263
140, 047
121, 461
>• 482, 029
457, 293
' 134, 818
' 115, 079
35, 580
19, 382
16, 198
41, 646
22, 493
19, 153
42, 675
25, 010
17, 665
43, 174
24, 189
18, 985
38, 984
22, 573
16, 411
2
2
2
2
2
2
7, 102
6, 809
3, 950
2,2 859
293
2 6, 351
2 5, 999
22 3, 459
2, 540
2352
430, 797
78, 581
512, 599
86, 287
467, 313
84, 961
470, 446
90,627
454, 665
87, 461
406, 333
84, 021
5,949
4,405
4,405
1, 544
26
26
21
0
5,842
4,514
4,514
1,328
7,011
4,966
4,966
2,045
8,274
5,781
5,781
2,493
9,775
7,198
7,198
2,576
9,644
7,185
7,185
2,459
5,290
4,014
4 014
1,276
1,718
1,719
1,721
1,722
1,727
1,731
1,736
1,736
89
5.2
109, 174
78, 137
31, 037
86
5.0
126, 438
91,431
35, 007
84
4.9
135, 936
96, 658
39, 278
82
4.8
137, 349
98, 625
38, 724
87
5.0
138, 319
94, 837
43, 482
89
5.1
134, 348
91, 775
42, 573
90
5.2
128, 540
86, 935
41, 605
96
5.5
125, 846
84, 858
40, 988
3,111
12.2
3,114
12.3
3,257
13.0
3,283
13.1
3,317
13.3
3,290
13.3
3,077
12.7
3,003
12.6
3,048
13 0
16
0
16
21
0
21
1, 504
1,504
0
17
0
17
21
0
21
1,640
1,640
0
1,628
1,628
0
1,620
1,620
0
1,631
1,631
0
20
0
20
18
0
18
16
0
16
1,863
1,863
0
1,737
1,737
0
1,823
1,823
0
14
0
14
1,660
1,660
0
12
0
12
61
8
53
56
0
56
32
1
31
47
4
43
37
4
33
27
1
26
34
0
34
52
1
51
34
1
33
39
1
38
263
234
29
290
255
35
242
218
24
291
271
20
440
393
47
461
398
63
595
519
76
397
354
43
464
420
44
604
519
85
345
502
507
6, 366
6, 124
3, 937
2 2,2 187
242
601
6, 257
6, 077
4, 106
1,2 971
180
631
6, 483
6, 265
3, 952
2,2 313
218
483
6, 044
5, 841
2 3, 669
2 2, 172
2203
792
773
2
5, 529
»• 2 6, 861
' 2 6, 529 2 5, 268
22 2, 683
2 3, 613
' 2 2, 916 2,2 585
••2332
261
RAILWAY EQUIPMENT
.American Railway Car Institute:
Shipments:
Freight cars, total
number
Equipment manufacturers, total _
do
Domestic
do
Railroad shops, domestic..
_ do
Passenger cars, total
do
Equipment manufacturers, total .
do
Domestic
do
Railroad shops, domestic
do_
Association of American Railroads:
Freight cars (class I), end of month :§
Number owned
_
-thousands
Undergoing or awaiting classified repairs
thousands. .
Percent of total ownership
Orders, unfilled
number
Equipment manufacturers _ _ __
do
Railroad shops
do
Locomotives (class I), end of month:
Steam, undergoing or awaiting classified repairs
number. .
Percent of total on line
Orders, unfilled:
Steam locomotives, totaL-.
number _
Equipment manufacturers
do
Railroad shops
do
Other locomotives, total _
do
E quipment manufacturers
do
Railroad shops
do
Exports of locomotives, total
Steam
_
Other _ .
INDUSTRIAL
Shipments, total
Domestic
Export
.
.
do
do
do. ,
19
19
12
0
19
7
7
12
29
17
8
12
23
17
6
6
38
34
13
4
19
19
10
0
1,590
1,590
o
ELECTRIC TRUCKS AND
TRACTORS
number
do
_ do.
538
484
54
r
2
Revised.
1 See note marked "t" for this page.
Beginning July 1950, the industry coverage has been increased by approximately 6 percent.
fRevised series. Beginning with data for 1951, the Bureau of the Census reports for woolen and worsted woven fabrics refer to goods which are principally wool by weight (i. e., exclude
fabrics containing 25-49.9 percent wool previously included). Production for the second and third quarters of 1950 has been adjusted by the Office of Business Economics to exclude these fabrics
.if possible (see note on p. S-40 in August 1951 SURVEF.
cf Publication of data for military shipments and the total, formerly shown here, has been discontinued by the Civil Aeronautics Administration.
{Excludes "special category" exports not shown separately for security reasons.
.§Not including railroad-owned private refrigerator cars.
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 : 1951
-INDEX TO MONTHLY BUSINESS STATISTICS, Pages S1-S40Pages marked S
Abrasive paper and cloth (coated)
38
Acids_
24
Advertising
7, 8
Agricultural income and marketings
2
Agricultural wages, loans
15
Aircraft
_
11,12,14,40
Airline operations
22
Alcohol, denatured and ethyl
24
Alcoholic beverages
2,27
Aluminum
33
Animal fats, greases
25
Anthracite
2, 5,11,13,14,15, 34
Apparel, wearing
4, 5, 8, 9,11,12,14,15, 38
Armed forces
10
Asphalt and asphalt products
36
Automobiles
2, 3, 7, 8, 9,11,12,13,14,18, 21
Balance of payments
20
Banking
15,16
Barley
28
Barrels and drums
32
Battery shipments
34
Beef and veal
29
Beverages, alcoholic
2,8, 27
Bituminous coal
_ _ _ 2, 5,11,13,14,15,34, 35
Boilers
33,34
Bonds, issues, prices, sales, yields
19
Book publication
37
Brass
33
Brick
5,38
Brokers' loans
16,19
Building construction (see Construction).
Building contracts awar,ded
_
-__
6
Building costs
7
Building materials, prices, retail trade
5, 7,8,9
Business, orders, sales, inventories
3, 4
Businesses operating and business turn-over __
4
Butter
._._
27
Candy
_______
29
Cans, metal
,
„
33
Capital
flotations.,ij__!
18,19
Carloadings
_i_.
22,23
Cattle and calves
•_*.
29
Cement
_
_
_
^
._.>.
2y5,38
r
Cereal and bakery products, price
_.__
5
Chain-store sales iJ.J_l^
9
Cheese.
_._._..
27.
Chemicals
_-- 2,3, 4, 5,12,14,15,18, 21, 24
Cigars and cigarettesii;4-l--^-U___
^30
Civil-service employees.:,;-1 _.-•
__
:,--*-"TV
12
Clay products (see also Stone, clay,*etc.)____. 2.38
Clothing
_
5,6, 8, 9,11,12,14,15, 38
Coal.
2, 5,11,13,14,15,34,35
Cocoa
29
Coffee
22,29
Coke
2,35
Commercial and industrial failures
4
Construction:
Contracts awarded
;._
6
Costs
7
Dwelling units started
7
Employment, wage rates, earnings, hours _ _
11,
12,13,14,15
Highway
...
6,12
New construction, dollar value
6
Consumer credit
16
:_
Consumer expenditures
1,8
Consumers' price index
5
Copper
21,33
Copra and coconut oil
25
Corn
19,28
Cost-of-living index (see Consumers' price
index)
5
Cotton, raw, and manufactures
2, 5, 6, 21, 38,39
Cottonseed, cake and meal, oil
25
Crops
2, 5, 25, 27, 28, 30, 38
Currency in circulation
18
Dairy productsDebits, bank
Debt, short-term, consumer
Debt, United States Government
Department stores
Deposits, bank
Disputes, industrial
Distilled spirits
Dividend payments and rates
Drug-store sales
Dwelling units started
2,5, 14,27
15
16
17
9, 10, 16
15,16,18
13
27
1,18,20
8,9
7
Earnings, weekly and hourly
13,14,15
Eggs and poultry
2, 5, 29
Electric power, production, sales, revenues
26
Electrical equipment
3,4, 7,34
Employment estimates
10,11,12
Employment indexes
12
Employment security operations
13
Emigration and immigration
23
Engineering construction
6
Expenditures, United States Government
16
Explosives
25
Exports (see also individual commodities)
21
Express operations
22
Factory employment, payrolls, hours, wages _ _ _
11,
12,13,14,15
Failures, industrial and commercial
4
Farm income and marketings
2
Farm products, and farm prices
2,5
Farm wages
15
Fats and oils
5,25,26
Federal Government,
finance
16,17
Federal Reserve banks, condition of
15,16
Federal Reserve reporting member banks
15,16
Fertilizers
5, 24
Fiber
products
34
Digitized for
FireFRASER
losses
7
Pages marked S
25,29
25
31,32
28
2,
3,4, 5, 7, 8, 9, 11, 12, 14, 27, 28, 29, 30
Footwear
2, 5, 8, 9,12,14,15,31
Foreclosures, real estate
7
Foreign trade, indexes, shipping weight, value
by regions, countries, economic classes, and
commodity groups
21,22
Foundry equipment
34
Freight carloadings, cars, indexes
22, 23
Freight cars (equipment)
40
Freight-car surplus and shortage
23
Fruits and vegetables
2, 5, 21, 27
Fuel equipment and heating apparatus
33,34
Fuel oil...
:____
35
Fuels
2,5,35
Furs
22
Furnaces
34
Furniture
2,5,8,9,11,12,13,14
26
Gas, customers, sales, revenues
36
Gasoline
Glass and glassware (see also Stone, clay, etc.). 2,38
34
Generators and motors
24
Glycerin
18
Gold
Grains
5, 19, 21,28
1
Gross national product
38
Gypsum
33,34
Heating and ventilating equipment
Hides and skins
5, 22,30
_ 6,7
Highways
29
Hogs
-.
Home Loan banks, loans outstanding
7
7
Home mortgages
Hosiery
6,38
Hotels
11,13,14, 15,23
Hours of work per week
12,13
Housefurnishings
5,8,9
Housing-_
5, 6,7,8
numeration and emigration
23
mports (see also individual commodities)
21, 22
ncome, personal
...
1
ncome-tax receipts
16
ncorporations, business, new
4
ndustrial production indexes
2,3
nstalment loans
16
nstalment sales, department stores
10
nsulating materials
34
Insurance, life
17,18
Interest and money rates
16
International transactions of the U. S
20, 21, 22
Inventories, manufacturers' and trade
3,9,10
Iron and steel, crude and manufactures
2,
3,4,6,11,12,13,14,21,32,33
Jewelry, sales, inventories, sale credit
8, 9,16
___
35
KeroseneLabor disputes, turn-over
13
Labor force
10
Lamb and mutton
29
Lard
29
Lead
33
Leather and products
2, 3, 4, 5, 12, 14, 30, 31
Linseed oil,
25
Livestock
2, 5, 29
Loans, real estate, agricultural, bank, brokers'
(see also Consumer credit)
7,15,16,17,19
Locomotives
40
Looms, woolen, activity
39
Lubricants
35
Lumber
2, 5, 11,12, 13, 14, 31, 32
Machine activity, cotton, wool
39
Machine tools
34
Machinery
2,3,4, 11, 12, 13, 14, 18, 21,34
Magazine advertising
8
Mail-order houses', sales
10
Manufacturers' sales, inventories, orders
3,4
Manufacturing production indexes
2,3
Meats and meat packing
2, 5, 11, 12, 14, 29
Metals
2,3,4,6,11,12,13, 14,15,18,32,33
Methanol
24
Milk
27
Minerals
2, 3, 13, 14, 15
Money supply
18
Mortgage loans
7, 15, 16
Motor fuel
36
Motor vehicles
3,8,9,40
Motors, electrical
34
1
National income and productNewspaper advertising
8
Newsprint
22,37
19,20
New York Stock Exchange
28
Oats
34
Oil burners
Oils and fats
5, 25,26
26
Oleomargarine
4
Operating businesses and business turn-over. _
4
Orders, new and unfilled, manufacturers'
5,26
Paint and paint materials
Paper and pulp
2, 3, 6, 11, 12, 14, 36,37
Paper products
2, 3, 4, 36,37
23
Passports issued
12
Payrolls, indexes
8
Personal consumption expenditures
1
Personal income
1
Personal saving and disposable income
2,
Petroleum and products
3,4,5,11,12,13,14,15,21,22, 35,36
32
Pig iron
Fish oils and
Flaxseed
Flooring
Flour, wheat
Food products
fish
Pages marked S
Plant and equipment expenditures
1
26
Plastics and resin materials, synthetic
Plywood
31
Population
10
Pork
_
29
8
Postal business..
Postal savings
16
Poultry and eggs
2, 5, 29
Prices (see also individual commodities):
Consumers' price index
5
Received and paid by farmers
5
Retail price indexes
5
Wholesale price indexes
5,6
Printing
2,3,4, 11, 12, 15,37
Profits, corporation
18
Public utilities
1, 5, 11, 13, 14,15, 17, 18, 19, 20
Pullman Company
23
Pulpwood
36
Pumps
34
Purchasing power of the dollar
6
Radio advertising
7
Railways, operations, equipment, financial statistics, employment, wages
1,
11,12,13,14,15,17,18,19,20,22, 23,40
Railways, street (see Street railways, etc.).
Rayon and rayon manufactures
2, 6, 39
Real estate
7
Receipts, United States Government
16
Reconstruction Finance Corporation, loans
17
Refrigerators
34
Rents (housing), index
5
Retail trade, all retail stores, chain stores, department stores, mail order, rural sales, general merchandise
3,4,8,9,10
Rice
28
Roofing and siding, asphalt
36
Rosin and turpentine
24
Rubber, natural, synthetic, and reclaimed,
tires and tubes
22,37
Rubber industry, production index, sales, inventories, employment, payrolls, hours,
earnings
2,3,4, 12, 14,15
Rye
„
28
Saving, personal
1
Savings deposits
16
Securities issued
18,19
Service industries
8, 11
Sewer pipe, clay
38
Sheep and Iambs
29
Shipbuilding
11, 12,13, 14
Shoes
2, 5, 8, 9,12,14,15, 31
Shortenings
26
Silk, imports, prices
6, 22,39
Silver
__
18
Skins
5,22,30
Slaughtering and meat packing
2,
11,12,14,29
Soybeans and soybean oil
25
Spindle activity, cotton, wool
39
Steel ingots and steel manufactures (see also
Iron and steel)
32,33
Steel, scrap
".
32
Stocks, department stores (see also Manufacturers' inventories)
10
Stocks, dividends, issues, prices, sales, yields..
20
Stokers, mechanical
34
Stone, clay, and glass products
2,
3,11,12,13,14,38
Stoves
... 34
Street railways and buses
13,14,15,22
Sugar
22,30
Sulfur.
...
25
Sulfuric acid
.
24
Superphosphate
'.
24
Tea
30
Telephone, telegraph, cable, and radio-telegraph carriers
11, 13, 14, 15, 19, 20, 23
Textiles
2,3,4,6, 11, 12, 14, 15, 21,38,39,40
Tile
38
Tin
22.33
Tires and inner tubes
6,12, 14,15, 37
Tobacco
2, 3, 4, 5, 7, 8, 11, 12,14,15, 30
Tools, machine
34
Trade, retail and wholesale. 3,4,8.9.10,11,13,14,15
Transit lines, local
15,22
Transportation, commodity and passenger
22, 23
Transportation equipment
2,3,4,11,12,13,14, 40
Travel
23
Truck trailers
40
Trucks
40
Turpentine and rosin
24
Unemployment and unemployment compensation
10,13
United States Government bonds
17,18,19
United States Government,
finance
16,17
Utilities
1, 5,11, 13, 14, 15,17,18, 19, 20
Vacuum cleaners
34
Variety stores
9
Vegetable oils
25, 26
Vegetables and fruits
2, 5, 21, 27
Vessels cleared in foreign trade
23
Veterans' unemployment allowances
13
Wages, factory and miscellaneous
Washers
Water heaters
Wax
Wheat and wheat
flour
Wholesale price indexes
Wholesale trade
Wood pulp
Wool and wool manufactures
Zinc.
13,14,15
34
34
_*__
36
19,28
5, 6
10
36
2, 6, 22, 39, 40
33
National Income
_Xr Supplement to tke Surveu of (Current
A matchless fund of integrated material
on the inner workings of the dynamic
national economy is contained in the new
and enlarged 1951 National Income Supplement to OBE's SURVEY OF CURRENT
BUSINESS, presenting—
. . . a survey off economic progress
key, up-to-date statistics
The utility of national income and product statistics in business analysis is apparent as this publication opens with a
contemporary record and a survey of the economic changes
which have occurred in the structural elements of the economy during the past two eventful decades.
The comprehensive array of fundamental income and product
statistics first brought together in 1947 is revised and carried
up to date to show consistent data from 1929 through the
year 1950.
. . . the theory off national Income
Presentation of the concepts underlying national accounting
procedures is based on developmental research carried on by
expert technicians in the National Income Division of the
Office of Business Economics—where the Nation's accounts
have been maintained since their inception.
.. . complete description of methods
For the economist or businessman interested in original
sources and methods of computation, complete annotations
in readable type are available in well organized and logically
developed notes.
. . . a measure of Inflation
Allowance for price changes is calculated and succinctly
explained in terms of constant versus current dollar gross
national product.
labor
fo
consumer
• farmer
government
Whether concerned with marketing, production, expansion
or pricing, all economic groups can effectively utilize appropriate details of these data as a guide in the quantitative
evaluation of their problems.
The 1951 National Income Supplement
will serve as the base-book to which all
subsequent income and product data
published in the monthly Survey of
Current Business will be related.
The July 1951 edition of NATIONAL INCOME is available from the Superintendent of Documents,
U. S. Government Printing Office, Washington 25, D. C., or from the nearest Department of Commerce Field Office. Price $1.00.
UNITED STATES DEPARTMENT OF COMMERCE
OFFICE OF BUSINESS ECONOMICS
@FedFRASER