Full text of Survey of Current Business : September 1953
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SEPTEMBER
U. S. DEPARTMENT OF COMMERCE
OFFICE OF BUSINESS ECONOMICS
1953
SURVEY
OF C U K M E N T
BUSINESS
No. 9
SEPTEMBER 1953
DEPARTMENT OF COMMERCE
FIELD SERVICE
Albuquerque, N. Mez.
204 S. 10th St.
Los Angeles 15, Calif.
112 West 9th St.
Atlanta 3, Ga.
Memphis 3, Tenn.
86 Forsyth St. NW.
Boston 9, Mass.
261 Franklin St.
Buffalo 3, N. Y.
117 Silicon St.
229 Federal BIdg.
Miami 32 FIa
'
'
'
36 NE Fir8t St
'
Minneapolis 2, Minn.
607 Marquette Are,
New Orleans 12, La.
PAGE
Charleston 4, S. C.
Area 2.
Sergeant Jasper Bldf.
333 St. Charles Are.
New York 13. N. Y.
THE BUSINESS SITUATION
1
Capital Goods Demand in Late 1953 . . . . .
Trends in Retail Sales
.
Cheyenne, Wyo.
3
5
346 Broadway
307 Federal Office Bldf.
Philadelphia 7, Pa.
Chicago 1, III.
1015 Chestnut St.
221 N. LaSalle St.
The Volume of Government Purchasing . . .
9
Cincinnati 2. Ohio
Balance of Payments
During the Second Quarter . . . . . . . .
11
105 W. Fourth St,
Cleveland 14, Ohio
925 Euclid AT*
*
*
*
Dallas 2, Tes.
SPECIAL ARTICLES
1114 Commerce Si,
Changes in Public and Private Debt . . . . .
13
Transportation in the Balance of Payments .
20
Denver 2, Colo.
142 New Custom House
Phoenix, Ariz.
137 N. Second Ave.
Pittsburgh 22, Pa.
717 Liberty Are.
Portland 4, Oreg.
520 SW. Morrison Sj,
Reno, NOT.
1479 Wells Are.
Richmond, Va.
409 East Main St.
Detroit 26, Mich.
*
*
*
MONTHLY BUSINESS STATISTICS . . S-l to S-40
Statistical Index . . . . . . . Inside back cover
Published by the U. S. Department of Commerce, SINCLAIR WEEKS,
Secretary. Office of Business Economics, M. JOSEPH MEEHAN,
Director. Subscription price, including weekly statistical supplement, is
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Special subscription arrangements, including changes of address, should be
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to Treasurer of the United States.
1214 Griawold St.
St. Louis 1, Mo.
1114 Market St*
El Paso, Tex.
Chamber of Commerce
Bldg.
Salt Lake City 1, Utah
109 W. Second St. So.
Houston, Tex.
430 Lamar St.
San Francisco 2, Calif.
Jacksonville 1. Fla.
311 W. Monroe St.
Savannah, Ga.
125-29 Bull St,
Kansas City 6, Mo.
Se&ule 4, Wash.
911 Walnut St.
870 Market St.
909 First Ave.
For local telephone listing, consult section
devoted to U. S. Government
SEPTEMBER 1953
By the Office of Business Economics
B
Plant and Equipment
Investment estimated at $28 billion
in 1953 vs. $26 V2 billion in 1952
l
BILLIONS OF DOLLARS
30
BILLIONS OF DOLLARS
30
20
20
y ANTICIRATED
10
10
I960 1951 1952 1953
1953
ANNUAL TOTALS
QUARTERLY TOTALS,SEASONALLY
ADJUSTED, AT A N N U A L RATES
All major industries except transportation
are up in 1953-some groups plan
lower fourth quarter outlays
BILLIONS OF DOLLARS
15
Construction large
BILLIONS OF DOLLARS
15
MANUFACTURING*
10
10
COMMERCIAL AND MISCELLANEOUS
tPUBLIC UTILITIES
»••••••
1953
1950
QUARTERLY TOTALS, SEASONALLY ADJUSTED,
AT ANNUAL RATES
® ANTICIPATED
U. S. DEPARTMENT OF COMMERCE1. OFFICE OF BUSINESS ECONOMICS
267170°—53
1
USINESS activity continued in high gear through August
as employment, income, and sales matched or exceeded the
rates of the earlier months. The basic sources of demand
were undiminished, with the major changes associated with
seasonal influences. Consumer purchases, backed up by
higher incomes, have advanced moderately. Business outlays for plant and equipment in the current quarter exceed
the high first-half rate. However, management anticipates
some easing from this record rate in the fourth quarter.
While total output has been steady since midyear, here
and there in scattered industries—chiefly durables—output
was trimmed to avoid further inventory accumulation.
Total business inventories were unchanged in July as the
usual seasonal decline did not occur. On a seasonally adjusted basis, the $0.6 billion book-value increase was below
the average second quarter experience, and of this advance
about half was due to higher replacement costs. Thus the
physical increment was well below the high second-quarter
rate. Automotive retailers accounted for half of the total
book-value inventory change in July.
Price firmness characterized wholesale commodity markets.
A major exception was the renewed weakness in the farm
group where a decline occurred in livestock prices in late
August and early September. Consumer prices moved up
fractionally in July, primarily due to small increases in food
prices and a continued advance in rents. Federal rent
controls were dropped on July 31.
53"/l4"l
Construction activity, at $3.3 billion in August, continued
to exceed the amounts of new construction put in place in
comparable periods of any past year. Because of the unusually open winter, however, the industry had gotten off to an
exceptionally fast start by last March. Most of the monthly
gains since then have been less than usual, as a consequence
of which the seasonally adjusted data have shown a steady
downtrend with the August total 7 percent below the March
peak.
Divergent trends are still evident in residential and nonresidential construction. Private residential building continues to lag, the August volume of $1.1 billion being a little
below the June top if no allowance is made for seasonal
influences and 8 percent below the seasonally adjusted
second-quarter rate. Private nonresidential construction
reached a new high in August, as did public utility
construction.
Public construction was below the volume of last spring
after allowance for the usual seasonal changes.
Total civilian employment reached 63.4 million in August
as agricultural employment receded less than is usual for the
SURVEY OF CURRENT BUSINESS
month while nonagricultural employment experienced the
typical August rise.
The recent steady advance of wage and salary disbursements, the largest component of personal income, has been
largely attributable to the increase in the payrolls of the
commodity-producing group. Growing employment at
higher wage rates accounts for most of the increases.
The number of employees in nonagricultural establishments this summer was 49.4 million persons, approximately
2 million higher than in 1952, the previous peak. Though all
major groups but contract construction contributed to this
rise, two-thirds of it is attributable to durable goods manufacturers.
September 1953
In the basic steel industry, there has been some easing in
the overall demand for finished and semifinished steel
products. With some exceptions, steel products are now in
ample supply relative to demand. This improvement in
the overall supply-demand relationship is reflected in the
current scheduled rate of steel operations. In August, mills
operated at around 94 percent of rated capacity in effect
on January 1, 1953, equivalent in terms of tonnage to around
Manufacturing workweek longer than in 1952
Average weekly hours, over the past 12 months, have
declined or remained stationary in many industries. In
manufacturing, however, weekly time rose one-half hour or
1.3 percent from July 1952 to July 1953. This increase was
in part fortuitous, reflecting a low level of hours last year in
industries affected by the protracted steel stoppage; it was,
however, in line with an upward trend. Weekly hours in
each of the first 7 months of this year have been higher than
in the comparable months of last year, and over the period
this month-to-month gain has averaged 1.0 percent. The
advance was shared by both the durable and nondurable
goods groups. As can be seen in the chart the movement of
hours, aside from seasonal variation, has shown much less
change than the movement in employment.
Manufacturing production workers averaged $1.77 an
hour in July, an increase of more than 7 percent over a
12-month period. This rise, which was slightly above the
7-year average beginning with July 1946, represented a
continuation of a long-term increase in earnings, which since
1933 had been halted under adverse economic conditions but
at no time reversed.
Hourly earnings reflect not only changes in basic hourly
and incentive wage rates but also such factors as premium
pay for overtime and late-shift work, and changes in the
output of workers paid on an incentive basis. The increase
in gross earnings over the past year reflects increases in
overtime payments as well as in wage rates and other factors.
The average spread between gross hourly earnings and hourly
earnings excluding overtime, for the first half of this year as
compared with the first half of last year, increased from 5.5
to 6.5 cents, a gain shared by both the durable and nondurable groups.
Real average hourly earnings, that is earnings adjusted for
the cost of living, continued their long-term increase. Over
the period of the last 12 months the movement was essentially parallel to that of money earnings, because of the
negligible rise in the cost of living. Consumer prices rose
less than 1 percent so that all industry groups gained in real
earnings.
:>'';-/ > / -X ^""V^A? >/.*. ..*; <^-<"/ sy
^
'\Yf''-vM^v
^^J^&'fr'firtR
AVERAGE HOURLY
EARNINGS
AVERAGE WEEKLY HOURS
\ \
\N
PRODUCTION WORKERS
y y> i'^:/*',?J-i'; '
Industrial production stable
Industrial production in July and August has been maintained on a high plateau after full allowance for the usual
summer seasonal influences. The rate of output in August
was little different from the record pace of the first half of
the year. Output of durable manufactures in August was
moderately below the monthly average of the January-June
period while production of nondurable manufactures was
about the same. Minerals output was somewhat higher.
Output in most metalworking industries where overall
backlogs are still high continued at or close to peak rates.
A few segments, however, have been tapering off in recent
months largely because of a reduction in order backlogs and
some accumulation of stocks.
9.4 million ingot tons. While this rate was higher than in
July, it was slightly lower than in June and about 5 percent
below the January-June average. Even so, the industry
turned out raw steel at an annual rate of nearly 111
million tons.
Activity in shops producing railroad equipment continues
relatively low. Deliveries of freight cars have been holding
steady at around 6,900 cars in the most recent months, a
September 1953
SURVEY OF CURRENT BUSINESS
rate about 8 percent below that of the first quarter. Installations of diesel-electric locomotives on Class I railroads
are down by an even larger margin. The reduced activity
in these plants reflects the prolonged paucity of sizable new
orders and the resultant substantial reduction by almost
one-half since the first of the year in order backlogs for
freight cars and locomotives. In the past 3 months, new
orders for freight cars have averaged less than 1,600 units
per month.
There also has been some reduction in the volume of output of agricultural machinery, including7 tractors, attributable primarily to a drop in the farmers purchasing power
over the past year. Intermittent cutbacks in production
have been under way since the early months of the year.
Passenger car output continued at a high rate in July
but a one-week shutdown in plants of an important producer,
a fire in the Livonia Hydra-Matic transmission plant on
August 12, and fewer working days combined to hold August
completions to about 526,000 units, a drop of around 12
percent from July and the second quarter of this year.
For household durables as a group, production in July
edged up from June on a seasonally adjusted basis. The
drop in radio and television production, though sharp, was
less than seasonal and offset the reduced output of major
household electrical appliances. Incomplete data for the
month of August indicate a more-than-seasonal rise in
radio and television production as the new 1954 models
swing into large-scale production.
In the household appliance group where there has been
some letup in consumer buying and some accumulation of
stocks in recent months, production in July was down about
10 percent from the second quarter and a larger percentage
from the first quarter. Sizeable declines in output of refrig-
Table 1.—-Factors Accounting for Rise in Manufacturing Production
Worker Payrolls, January-July 1952 to January-July 1953
Durables
981
843
631
520
35S
326,
13 740
12, 728
8 152
7,300
5 5885 428
40 8
40.4
41 6
41.2
39 7
39 2
$1. 75
1.64
$1.86
1.73
$1 59'
1.53
1.164
1.080
1.010
1.067
1.213
1.117
1.010
1.075
1 083
1. 029'
1 013
1 039'
Production worker payrolls per week (mil. dol.):
Jan.-July 1953 average
Jan .-July 1952 average
Employment of production workers (thousands) :
Jan -July 1953 average
Jan.-July 1952 average
Hours worked per week:
Jan -July 1953 average
J a n -July 1952 average
-
--
. _ _ _
Average hourly earnings:
Jan -July 1953 average
- Jan -July 1952 average - - - - - - Ratio: Jan.-July 1953 to Jan.-July 1952:
Payrolls
- Employment - - - - - - Hours per week
Average hourly earnings - -
Nondurables
All manufactures
-- --
-- --
Source: Computations by U. S. Department of Commerce, Office of Business Economics
from data compiled by U. S. Department of Labor, Bureau of Labor Statistics.
era tors and washing machines accounted for most of the
drop.
Production of nondurable goods recovered strongly from
the midsummer vacation shutdowns in many mills and
factories. The rate of output was about the same as in
June which in turn was close to the peak rate for the year.
New production peaks were reported for paperboard,
refined petroleum products, and industrial chemicals. In
most other lines, production was maintained at or close to
earlier highs.
Capital Goods Demand in Late 1953
JL LANT and equipment expenditures in the second half of
1953 are expected by business to be maintained at about the
same rate as in the first half, with a small decline scheduled in
the fourth quarter from the high third-quarter rate. According to the survey of spending intentions conducted in August
by the Office of Business Economics and the Securities and
Exchange Commission, business has programed plant and
equipment investment at seasonally adjusted annual rates of
$28.4 billion in the third quarter and $27.1 billion in the final
quarter of this year. Actual outlays in the first 6 months
were at a $27.6 billion annual rate.
The results of the current survey show that actual spending
in the second quarter and anticipated spending in the third
quarter are about in line with expectations reported 3 months
earlier. Most of the returns in this survey were filed
shortly after the cessation of hostilities in Korea.
If these current programs for the expansion and replacement of productive facilities are realized, outlays for the year
1953 will reach a record total of $27.8 billion, up 5 percent
over 1952. This would bring nonfarm business outlays for
new plant and equipment in the years 1950 through 1953 to
$100 billion, marking the largest recorded increase in real
fixed capital assets for a 4-year period.
Increases over 1952 are indicated by the 1953 capital
programs of each major industry group except railroads and
other transportation companies. With both construction
costs and prices of producers' durable equipment increasing
only slightly over the past year, the aggregate change from
1952 in real terms is almost equal to the current dollar
increase.
Between the third and fourth quarters, the major industry groups are anticipating either a leveling off or a
decline in their rates of capital spending. After allowance
is made for seasonal factors, a 5 percent decrease is indicated
in manufacturing, primarily in the durable goods sector.
Somewhat larger relative declines are expected by the public
utilities and railroads. Other transportation, mining and
commercial companies expect little change in fixed investment rates in the final quarter.
Current capital goods situation
An examination of the results of the most recent survey
suggests that the pattern of investment over the full year
wiU be one of comparative stability at high rates. Easing
tendencies—chief of which is the tapering off in the defense
facilities expansion program—are apparently not yet of
sufficient magnitude to offset in marked degree those elements
which are a source of strength in the current demand for
capital goods.
SUEVEY OF CUEEENT BUSINESS
The overall economic situation is still quite favorable to
investment, as reflected in the steady rise in gross national
product and nonfarm business income. Consumer spending
is at record rates and new orders received by manufacturers
for civilian goods have been offsetting the cutbacks in military orders. In the offing is the prospect of tax reductions
which will tend to stimulate investment, and together withhigher depreciation, will provide additional sources of new
investment funds.
Manufacturing trends
Within manufacturing the nondurable-goods industries
indicate a rate of capital spending in the final 3 months
virtually as high as in the record third quarter. In the
petroleum and chemicals industries, which have contributed
heavily to the rise in capital expenditures since the Korean
hostilities began, fourth quarter outlays are expected to be
the same or close to those of the third. Food, beverage and
rubber companies also expect to maintain their current rate
of fixed investment. Textile companies, on the other hand,
show declines in the third and fourth quarters from investment rates in the second quarter of the year.
In the case of durable goods manufacturing, the high
reached in the second quarter of 1953 was followed by a
September 1953
Table 2.—Percent Change in Plant and Equipment Expenditure,
1952-53 and 1951-52
1951-52
1952-53
10
fc
Durable goods industries
Primary iron and steel
Primary nonferrous metals
Fabricated metal products
Electrical machinery and equipment
Machinery except electrical
Motor vehicles and equipment _. ..
Transportation equipment excluding motor vehicles
Stone, clay and glass productsOther durable goods
12
28
92
— 18
1
13
5
16
—20
—3
3
—5
—3
g
23
16
Nondurable goods industries
Food and kindred products
__. ._ __
Beverages
Textile mill products __
___ _ ___ ._
Paper and allied products
Chemicals and allied products-. _
Petroleum and coal products
Rubber products
Other nondurable goods
9
—7
— 11
—25
— 16
16
24
—7
27
Manufacturing.
Mining
Railroads
Transportation, other than rail __
Public utilities
Commercial and other. .
_
__
_
(i)
(i)
— 15
12
s
—4
33
—26
15
24
9
1
—12
1
—5
—6
-8
5
—3
._
—7
0
15
2
3
Total
5
1. Not available separately.
Source: U. S. Department of Commerce, Office of Business Economics, and Securities and
Exchange Commission.
1
Table 3.—Expenditures on New Plant and Equipment by U. S. Business, 1950-53
[Millions of dollars]
19 52
Manufacturing
Primary iron and steel _
Primary nonferrous metals
Fabricated metal products
Electrical machinery and equipment
Machinery except electrical
_
Motor vehicles and equipment _
. . _
Transportation equipment excluding motor vehicles
Stone, clay a n d glass products.
_._._
__
Other durable goods <*
Nondurable goods industries
_
Food and kindred products
Beverages
Textile mill products
Paper and allied products
_ .
_ _
_
_
_ -
Chemicals and allied products
Petroleum and coal products
Rubber products
__
___
Other nondurable goods *
_.
_
Mining
Railroads
_
.-
--
__
._
Transportation, other than rail
Public utilities
-
1951
1952
1953 2
7,491
10,852
11,994
12, 690
2,650
3,156
2,820
3,367
2,747
3,280
3,425
3,239
5,784
5,955
1,307
1,465
1,358
1,654
1,319
1,523
1,597
l,5lt
319
125
86
82
173
416
141
86
92
187
334
166
77
88
174
470
163
106
114
238
324
129
94
82
198
377
145
108
115
235
390
163
97
125
240
368
140
86
140
226
3,135
Durable goods industries
-- -
_- --
--
Commercial and other 6
Total
19 53
1950
5,168
Jan.Mar.
Apr.June
JulySept.
Oct.Dec.
Jan.Mar.
Apr.June
JulySept.2
Oct.Dec.2
599
134
350
245
411
1,198
310
433
373
683
1,538
595
355
376
772
1,460
577
385
463
899
510
82
280
524
851
219
397
704
896
253
318
682
(6)
215
(6)
763
194
76
84
168
214
72
80
176
241
46
73
159
247
58
80
179
201
43
65
182
219
52
78
194
244
64
68
206
4,356
5,684
6,210
6,735
1,343
1,691
1,463
1,713
1,428
1,757
1,828
1,723
523
237
450
327
579
274
531
420
540
245
400
354
516
325
296
406
134
48
109
82
145
61
110
87
123
64
87
89
138
73
93
96
120
82
83
82
145
99
84
102
128
74
69
116
123
70
60
106
771
1,587
102
359
1,247
2,102
150
382
1,451
2,596
139
484
1,800
2,824
140
428
317
513
33
108
366
747
39
136
358
592
34
116
410
745
34
124
373
552
30
105
449
724
39
116
511
785
36
108
466
763
34
100
(6)
(6)
55
182
707
929
880
892
217
228
206
229
199
212
244
236
1,111
1,474
1,391
1,294
360
386
289
357
310
358
331
295
1,212
1,490
1,363
1,357
356
372
302
335
311
339
358
349
3,309
3, 664
3,838
4,429
821
928
947
1,142
904
1,148
1,231
1,146
6,775
7,235
6,989
7,159
1,737
1,738
1,680
1,835
1,675
1,887
1,820
1,778
26, 455
27, 821
6,141
6,808
6,244
7,265
6,147
7,225
7,408
7,042
11.78
.93
1.56
1.44
3.82
7.19
12.24
.90
1.44
1.36
3.75
6.89
11.64
.83
1.24
1.27
3.71
6.80
12.23
.87
1.32
1.38
4.04
7.12
12.48
.86
1.38
1.27
4.20
6.98
12.66
.84
1.32
1.28
4.59
7.37
12.78
.96
1.30
1.48
4.58
7.32
12.18
.97
1.08
1.41
4.14
7.31
26.72
26.58
25.49
26.96
27.18
28.06
28.42
27.08
20, 605
25, 644
Seasonally adjusted at annual
[Billions of dollars]
Manufacturing
^Mining
Railroads
Transportation other than rail
Public utilities
Commercial and other 8 _ __
_
__
Total
1. Data exclude expenditures of agricultural business and outlays charged to current
account.
2. Estimates based on anticipated capital expenditures as reported by business in August,
1953. In addition to seasonal adjustment, these periods are adjusted when necessary for
systematic tendencies in anticipatory data.
3. Includes lumber products, furniture and fixtures, instruments, ordnance and miscellaneous manufactures.
4. Includes apparel and related products, tobacco, leather and leather products and print
ing and publishing.
5. Includes trade, service, finance, communication and construction.
6. Data not available separately but are included in totals.
Source: U. S. Department of Commerce, Office of Business Economics, and Securities and
Exchange Commission.
September 1953
SURVEY OF CURRENT BUSINESS
small decline in the third quarter and a more pronounced
drop in the last 3 months. The motor vehicles and electrical
machinery industries, which have been showing steady increases through the year, both report further expansion over
Ihis period. Most of the other durable goods industries
anticipate some decline—moderate for iron and steel and
nonelectrical machinery and more substantial for nonferrous
metals and nonautomotive transportation equipment.
1953 investment programs
Although data for the second half of the year are still
preliminary, it is now possible to make a comparison for
the full year 1953 with the preceding year. It may be noted
in table 2, which gives annual percent changes for 1951-52
and 1952-53, that while in the manufacturing industries
investment in durable goods showed somewhat greater
buoyancy between 1951 and 1952, the nondurable group
exhibits the greater strength between 1952 and 1953.
The smaller relative gain in durables this year may be
traced to the somewhat slackened tempo of investment in
basic metal industries—with both iron and steel and nonferrous metal companies indicating slight declines from their
1952 capital outlays. Expansion in these industries was
given major emphasis in mobilization planning and present
programs indicate that a substantial portion of the current
expansion goals in these areas will have been completed by
the end of this year. On the other hand, both electrical
and nonelectrical machinery show a larger year-to-year
increase than in the previous year. The decline in transportation equipment of about 15 percent may be traced in
part to reduced outlays on the part of aircraft companies.
In nondurable manufacturing the greatest relative increases over 1952 appear in chemicals, paper and beverages—
15 percent or more. A 10 percent rise in 1953 is indicated
in petroleum as compared to a one-fourth increase in the
previous year. Only food and textiles show lower capital
outlays as compared with 1952. The latter industry had
also reduced its 1952 capital spending from the 1951 high.
In the nonmanufacturing area the largest gain over 1952
is indicated in the public utilities field with a 15-percent
rise. The marked growth in the demand for electric power
and natural gas has resulted in very heavy capital outlays
in these industries throughout the postwar period. From
1950 to 1953 public utilities contributed over 50 percent^
of the increase in nonmanufacturing capital expenditures.
Although small decreases are indicated for public utilities in
the fourth quarter of this year, trade sources indicate a
continued heavy expansion among electric utilities over the
next 3 years.
Trends in Retail Sales
OUMMER purchases at retail stores continued at the high
rate characterizing the earlier months of the year. At
a seasonally adjusted annual rate of $174 billion in July,
sales were about 6 percent above the 1952 average and with
retail prices showing little change over this period, the 1953
gain reflected for the most part an increased quantity of
goods taken by customers.
The accompanying chart presents recent sales trends for
broad groups of stores as well as for total retail sales. The
comparatively even flow of sales this year was reflected in
most of the major lines of trade, although as might be
expected the month-to-month variation among some of the
components was relatively greater than that shown for all
lines combined.
Food sales up
The most consistent sales picture in the last two and onehalf years has been in the food group (which in the chart
includes both food stores and eating and drinking places).
Sales of these establishments comprise almost one-third of
all retail sales. The moderate upward trend in food sales
in 1951 and 1952 was continued through the first 7 months
of this year and in July sales were about 2 percent above a
year ago. With food prices down from last year, the gain
was somewhat more substantial in real terms.
Other soft goods sales steady
Sales at other types of soft goods stores have been generally stable since January of this year—although, as may be
seen from the chart, at a rate lower than last fall and the
record-breaking Christmas buying season. Except for that
period, 1953 sales to date of these nondurables have averaged
higher than at any other time, and about 3 percent above
the comparable period of 1952.
Within this broad category, which includes such heterogeneous groups as department stores, filling stations and
drug stores, there was a general conformity of movement.
Most groups of stores not only shared in the late 1952 spurt
but in like manner underwent substantial winter declines.
Among these were department, men's and women's wear,
and shoe stores. By spring, however, sales of department,
women's wear, and shoe stores were again approaching the
late 1952 high, while men's wear sales remained below the
year-end rate. Except for the latter case, however, current
sales compare favorably with the 1952 average.
A few groups—mail-order, variety and liquor stores—did
not share in the greater-than-seasonal bulge in sales late in
1952, and for the most part, these groups maintained or
bettered their sales volume in the first part of this year.
Sales of variety stores in particular picked up substantially
in the spring and early summer months.
In terms of physical volume, the flow of soft goods other
than foods through retail channels in 1953 appears not to
have regained the high rate temporarily reached in the latter
part of 1952 despite some pickup in the more recent months.
In the first 7 months of this year combined retail sales of
these stores, adjusted for price changes, nevertheless averaged
about 2 percent above the 1952 total and 4 percent above
the comparable months a year ago.
As may be seen from the lower section of the chart, sales
of durable goods have accounted for the major part of the
fluctuations in total retail trade over the last 30 months.
SURVEY OF CURRENT BUSINESS
6
September
1953
Table 4.—Retail Store Sales
[Millions of dollars]
Seasonally adjusted at annual rates
1951
1952
Percentage of disposable personal income
1953
1953
1951
1st quarter 2d quarter
All re tail stores1-
_.
__
Durable-goods stores 1
Automotive group
Motor vehicle, other automotive dealers
Tire, battery, accessory dealers
Furniture and appliance group
Furniture, homefumishings stores
Household-appliance radio stores
Jewelry stores
___
Lumber building hardware group
Lumber, building-materials dealers
Hardware stores
-
_
- _
-_ _ _ _ _ _
_ _ _ _ _ _
_ _
_ _ _ _ _ _ _ _ _
_ _ _ _ _ _
l
1952
1st quarter 2d quarter
July
158,223
164, 085
172, 362
172, 466
173 606
70.3
69.8
70.2
69.6
54, 479
55, 270
62, 060
61,526
61,458
24.2
23.5
25.3
24.8
28, 156
26, 282
1,874
8,604
5, 095
3, 509
1, 351
10,208
7,470
2,738
28, 337
26, 393
1,944
8,926
5, 255
3,671
1, 452
10, 200
7,572
2,628
33, 966
31, 898
2,068
9,410
5, 345
4,065
1,595
10, 552
7,832
2,720
34, 175
32, 282
1,892
9,233
5,255
3,978
1,426
10, 242
7,672
2,571
34, 141
32, 359
1,782
9,430
5,228
4, 201
1,364
10. 147
7,601
2,546
12.5
11.7
.8
3.8
2.3
1.6
.6
4.5
3.3
1.2
12.1
11.2
.8
3.8
2.2
1.6
.6
4.3
3.2
1.1
13.8
13.0
.8
3.8
2.2
1.7
.7
4.3
3.2
1.1
13.8
13.0
.8
3.7
2.1
1.6
.6
4.1
3.1
1.8
103, 744
108,815
110,302
110,939
112,148
46.1
46.3
45.0
44.8
Apparel group
Men's and boys' wear stores
Women's apparel, accessory stores
_ _ _ _ _ _ _ _ _ _ _
Family and other apparel stores
Shoe stores _ _ - _
_ . _ _
_ _ __
Drug and proprietary stores
_ _ _
Eating and drinking places
_ - - _ _ _
10,209
2,461
4,049
2,015
1,684
4,547
12, 207
10, 633
2,497
4, 233
2,210
1,693
4,717
12,688
10, 760
2,516
4,174
2,342
1,728
4,894
13, 050
10, 794
2,394
4,420
2,265
1,716
4,842
13,018
11,087
2,376
4,487
2,304
1,920
4,786
13, 105
4.5
1.1
1.8
.9
.7
2.0
5.4
4.5
1.1
1.8
.9
.7
2.0
5.4
4.4
1.0
1.7
1.0
.7
2.0
5.3
4.4
1.0
1.8
.9
.7
2.0
5.3
Food group *
- Grocerv stores
- _ _ _ _ _ _ _ _ _ _ _ _
Gasoline service stations
General-merchand ise group
Department stores excluding mail-order
Mail-order (catalog sales)
- Variety stores
Other general-merchandise stores
Liquor stores
37, 626
30,346
9,151
18, 202
10,095
1,309
2,859
3,939
2,975
39, 771
32, 238
9,976
18, 694
10, 277
1,339
2,996
4,082
3,165
40, 487
32, 790
10, 256
18, 741
10, 309
1,370
2,966
4,097
3,122
40, 671
33, 267
10,307
19, 151
10, 541
1,362
3,133
4,116
3, 255
41, 208
33, 976
10, 652
19, 247
10, 390
1,435
3,377
4,045
3,283
16.7
13.5
4.1
8.1
4.5
.6
1.3
1.8
1.3
16.9
13.7
4.2
8.0
4.4
.6
1.3
1.7
1.3
16.5
13.4
4.2
7.6
4.2
.6
1.2
1.7
1.3
16.4
13.4
4.2
7.7
4.3
.5
1.3
1.7
1.3
Nondurable-goods stores
_ ___
_._ _ _ _
1. Sales of other durable goods stores, other food stores, and other nondurable goods stores
are not shown separately but are included in the totals.
Source: U. S. Department of Commerce, Office of Business Economics and Bureau of the
Census.
Sales of the automotive group rebounded sharply in the fall and
winter months following the work stoppages which hindered
new car assemblies last summer. Motor vehicle dealers
achieved an all-time high rate of sales in early 1953, and,
while the pace has somewhat slackened, sales through July
have continued well in excess of any previous experience.
With considerably more moderate swings, the pattern of
auto sales was repeated at other durable goods outlets.
Consumer purchases in recent months were down moderately
from the first quarter high and for the most part tended to
approximate the 1952 average.
It is of interest to note that the generally stable overall
sales picture at retail stores has been in large part the result
of compensatory movements in durable and nondurable
goods lines. The substantial drop in durable sales in the
third quarter of 1952, stemming predominantly from work
stoppages, was largely offset by expansion in soft goods sales.
Both groups contributed to the fourth quarter expansion.
But while sales of durables continued to expand in the early
months of 1953, nondurable goods sales receded to some
extent. The slight drop-off from peak first quarter sales of
durable goods was, however, more than offset by the pickup
in soft goods lines in the second quarter.
Durable-store sales in the first half of this year were equal
to about twenty-five percent of disposable income. This
was up from the average for the year 1952 and only slightly
below the peak reached in 1950. The recent rise in this
ratio, as well as the fact that it is more than a fourth above
the proportion reached in any year prior to World War II,
reflects for the most part the large automobile sales. Automotive group sales are equivalent to nearly 14 percent of
disposable income. In the more prosperous years prior to
World War II, the figure was less than 10 percent. Most of
the other durable goods groups have exhibited only minor
changes in the recent period in their sales position relative
to income.
For nondurable goods stores, the ratio of sales to income
in the years 1951 and 1952 was generally steady at about 46
percent. In the first half of 1953, however, this proportion
slipped slightly to about 45 percent. This change though
slight was noticeable in almost all major nondurable goods
groups. Within the year, however, a small uptrend in the
ratio has appeared. Sales of nondurable goods stores relative to income are currently at about the same position as
that shown immediately prior to the war.
Influence of income
The basic factor in the continuation of generally favorable
recent trends in retail trade has been, of course, the high and
expanding volume of disposable consumer income—although
the widespread use of consumer credit has also been an important influence. It is of interest to note, as shown in table
4, the varying proportion of the consumer dollar represented by retail purchases in the recent period. Overall,
the shift in the ratio of total retail sales to disposable income
has been small—the ratio staying close to 70 percent. This
proportion was slightly below the ratios reached in the years
immediately following World War II, but well above those
in years prior to the war.
Chain Store Activity
Chain stores have participated fully in the expansion in retail sales since 1950. The proportion of chain store to total
sales is currently somewhat above that in the immediate preKorean period, and is also higher than in earlier periods of high
economic activity.
Data recently developed by the Bureau of the Census indicate that sales of all retail chain organizations with 11 or
more stores amounted to over $30 billion in
1952 compared
to an all retail store figure of $164 billion.1 Dollar sales of
1. Due to lack of adequate information, chain organizations with less than 11 units are excluded from this discussion. According to the Census of Retail Trade, 1948 sales of chain
stores with 4 to 10 outlets accounted for about one-sixth of all chain store sales.
SURVEY OF CURRENT BUSINESS
September 1953
these chains in 1952 were up about 5 percent from 1951,
somewhat higher than the 4 percent advance shown for all
retail stores.
At the start of 1953 total chain store sales on a seasonally
adjusted basis fell off somewhat from the high rate reached
in the closing months of 1952, largely as a result of decreased
sales of apparel, variety, and general merchandise stores other
than department stores. They rose steadily, however, after
January and by mid-year exceeded the previous high.
In the more recent period the upward shift may be attributed in large part to the department store and grocery
groups which together account for more than half of all
chain store sales (see chart). For the shoe and drug stores
the trend in the ratio of chain to total sales was downward
and, though small, marked a continuation of trends which
began in the late thirties. In the remaining groups, chains
and independents in the last few years have shown generally
parallel movements.
Grocery and department chains improve
RETAIL SALES on high
plateau this year
Chain grocery and combination stores (stores selling groceries either with or without fresh meats) have historically been
the most important in the chain field. In 1952 these chains
registered sales of $11)4 billion, more than one-third of all
grocery sales—both chain and independent. During the
first half of this year, chain grocery sales have been relatively
steady at a seasonally adjusted rate of $1 billion a month.
After the wartime decline in chain grocery sales relative
to the total, the position of chain stores in this field improved
steadily. This trend was continued in the more recent
period—though at a lessened rate. From somewhat under
35 percent of the total in the first half of 1951 the chain store
share had risen to nearly 37 percent for the first 7 months of
1953, higher than in any previous period of high business
activity.
Much of the advance in the relative position of grocery
chains in the recent period has been due to a sharp increase
in the operations of medium sized organizations. These
medium sized chains have shown relatively greater investment in new supermarkets than the larger chains.
It may be noted that independents as well as chains have
increased dollar sales of food. From the first quarter of 1951
to the present, sales of grocery independents (including
chains with less than 11 stores) advanced about 10 percent.
Chain sales, however, were up 18 percent.
Department stores form another important retail group in
which chain organizations, except for the war years, have
been steadily increasing their share of the group total. The
current ratio of 41 percent compares with 37 percent at the
beginning of 1951. Here, too, the current relative position
of chains is above that in periods of high economic activity
prior to the war. Some of the recent growth in chain department store business may be attributed to an increase in the
number of stores operated by several of the larger chains.
Total sales of chain department stores operating 11 or
more stores amounted to $4 billion in 1952 compared to $10
billion for all department stores. By midyear, sales of these
chain department stores reached record seasonally adjusted
annual rates of $4.5 billion.
INDEX, 1951 = 100
140
ALL RETAIL STORES
120
100
80
1951
1952
1953
Advances in food sales and firmness in
other soft goods lines....
INDEX, 1951 - 100
140
FOOD GROUP AND EATING
AND DRINKING PLACES
OTHER NONDURABLE
GOODS STORES
120
100
80
have offset moderate declines in durables
140
AUTOMOTIVE GROUP
OTHER DURABLE
GOODS STORES
120
Drug and shoe chain ratios decline
100
80 ' " ' t i h
1951
Mil
1952
1953
S E A S O N A L L Y
1951
1952
1953
A D J U S T E D
U. S. DEPARTMENT OF COMMERCE. OFFICE OF BUSINESS ECONOMICS
53-114-3
Thus the ratio of chain to total sales of retail stores (excluding motor vehicles) has edged upward—from about 21
percent at the beginning of 1951 to 22 percent in the first
half of 1953.2 This, it may be noted, marked a continuation
of the slight upward trend in evidence since the end of World
War II.
2. Sales of motor vehicle dealers are excluded from this comparison since chains with 11 or
more stores are of negligible importance in this group.
Sales of chain drug stores in 1952 amounted to nearly
three-quarters of a billion dollars, representing more than
15 percent of all drug store sales. Drug stores comprise one
segment of retail distribution in which the share taken by
chains has been declining for more than a decade; the chain
share was about 20 percent in 1939. The downtrend has
also been evident in the recent period, the ratio decreasing
from about 16 percent at the beginning of 1951 to 15 percent
in mid-1953.
Chain shoe stores had sales of about $640 million in 1952,
about 38 percent of the trade of all shoe stores. The relative
position of chains fell off in the war years and recovered
somewhat in the early postwar years. The gains of shoe
chains relative to the independents were of short duration,
however, and the most recent period has been showing a
SURVEY OF CURRENT BUSINESS
8
slowly declining ratio. Thus shoe chains contributed about
39 percent to total shoe store sales in 1951, 38 percent in
1952, and a somewhat lower ratio in the first 7 months of
this year—proportions considerably below those prior to the
war. Thus, in the light of the fairly stable overall sales of
shoe stores in the last two and a half years, it appears that
independents and the smaller chains have improved their
sales position slightly, both in absolute and relative terms.
It may be noted that sales of shoe departments of department stores show relatively little change in sales in the recent
period.
Change in character of operations
Chain store merchandising and, in fact, all retail merchandising has undergone substantial changes over the years.
The general trend has been toward the development of
larger stores. In the case of chains, there has been a noticeable tendency either to enlarge existing stores or to replace
a number of outlets in an area with one new larger establishment. As a result, there has been some decline in the average
number of stores operated by the larger chain organizations.
September 1953
The latest figures available indicate a rise of about 10 percent in the number of chain units while the number of independents changed only slightly. Some of the change in
chain department' stores since 1939 is attributable to the
establishment of suburban branches.
In the case of department stores, the independents rather
than the chains operate the largest individual stores. For
Chain Store Sales as Percent of Total
Sales in Selected Retail Stores
PER(
;ENT
30
25
The relative position
of c h a i n and
independent retail
stores has shifted
slightly
TOTAL
(EXCL. MOTOR VEHICLES)
/ ,
20
Table 5.—Chain Store Sales and Their Relationship to Total
Retail Sales
15
Chain store sales i
Kind of business
Ratio of chains2 to all
retail sales
19533
Jan.July
1951
Mttli OTIS of d rtlars
28, 536 30, 120 31,055
21.6
2,521
2,605
2,708
8.9
9.0
9.1
Furniture and appliance group . _
679
Furniture and homefurnishing stores287
392
Household, appliance, radio stores
66
Jewelry stores
Lumber, building, hardware group _
1,208
Lumber, building-materials dealers. _ _
798
700
317
383
70
1,224
785
754
327
427
77
1,202
770
7.9
5.6
11.2
4.9
11.8
10.7
7.8
6.0
10.4
4.8
12.0
10.4
8.1
6.2
11.0
5.1
11.6
10.0
26, 015 27,515 28, 347
25.1
25.3
25.5
45
2,068
214
834
642
737
622
2,064
207
819
651
756
665
19.7
8.7
19.4
38.7
15.9
4.8
19.4
8.6
19.7
37.9
15.6
4.9
19.1
8.5
19.0
37.2
15.6
5.0
40
Food group
_ - _ _ 11, 705 12, 554 13, 128
10, 718 11, 606 12, 153
Grocery and combination stores
8,575 8,916 9,223
General merchandise group.Department stores
3,820 4,002 4,254
1,302 1,338 1,315
Other general merchandise stores
2,233 2,322 2,367
Variety stores
31.1
35.3
47.1
37.8
33.1
78.1
31.6
36.0
47.7
38.9
32.8
77.5
32.3
36.6
48.6
40.8
32.0
76.5
Total
Durable-goods stores
Nondurable-goods stores
_
..
2,009
Apparel group
_
215
Men's and boys' wear stores
786
Women's apparel and accessory stores652
Shoe stores
722
Drug and proprietary stores
590
Eating and drinking places
1952
1952
Percent
21.9
,
1
,
Chains increased
their share of
department store
and grocery sales
DEPARTMENT K
40
22.1
1. Includes chains with 11 or more stores only. Total and group totals include other retail
kinds of business not shown separately.
2. Excluding motor vehicles where chain stores are of negligible importance.
3. Seasonally adjusted at annual rates.
Source: U. S. Department of Commerce, Office of Business Economics and Bureau of the
Census.
Between 1939 and 1948 chain store units were reduced by
nearly a fifth. There are indications that a further small
decrease in the total number of units operated by chains has
occurred. Over the same period, the number of independents
increased slightly.
The sharply increased volume of business per store was
especially notable in the grocery field where the number of
stores operated by chains was down more than a third between
1939 and 1948, whereas total sales volume, adjusted for price
differences over the period, increased by over one-half. The
number of independents, on the other hand, rose slightly,
and while the volume of business also increased, the per-store
average gained much more modestly than in the case of the
chains.
Only in the case of department stores has there appeared
to be an increase in the number of chain stores since 1939.
1
45
19533
Jan.July
1951
,
35
-^K"*"*^"*"
^» GROCERY AND
COMBINATION
30
,
1
,
1
,
1
1
" ^*^*
35
I
1
,
while chain shoe
and drug stores
are currently
somewhat lower
20
;* DRUO
15
10
-^
1
*
1
1951
1
1
1
1952 1953
HALF-YEARLY
DATA
U. S. DEPARTMENT OF COMMERCE. OFFICE OF BUSINESS ECONOMICS
53-114-4
example, according to Census data average sales per store in
1948 for chain department stores with 11 or more units at
about $2 million was less than half the similar average for
independents. The extension of branch store operation may
serve to change this relationship in the future as stores now
classified as independents enter the chain field.
Chain importance varies by kind of business
Chain store activity is largely concentrated in the nondurable goods field, and among the nondurables mostly in the
SUKVEY OF CURRENT BUSINESS
September 1953
food, department store and general merchandise groups. In
1952, for example, chains with 11 or more units accounted
for a fourth of all nondurable goods store sales but for less
than 5 percent of the durables total (9 percent if sales of
motor vehicle dealers are excluded). The varying importance of chains by kind of business is shown in table 5, which
presents chain sales in dollars and as a percentage of total
sales in each line of trade. In five of these categories,
namely, grocery, department, dry goods, variety, and shoe,
the chain store share amounts to a third or more. In the
drug and women's apparel stores, the chain proportion was
between 15 and 20 percent, while in the remaining trades
the share is 10 percent or less.
Variations by size of chain
Comparison of sales trends by kinds of business of the six
chain organizations with the largest volume of sales and those
of all other chain organizations indicates that the largest
chains had the better sales experience in the 1951-52 period
and in the immediate postwar years—and the smaller chains,
during the war and in the 1948-51 period.
During and immediately after the war, these differential
trends in part reflected the strengthening of the position of
the smaller chains during a period of tight supply and allocations, and the recovery of the larger group with the easing
supply situation after VJ-Day. Throughout the entire
period since 1939, however, there has been a continual reduction on the part of many of the largest chains in the
number of operating stores—while the smaller chains have
generally expanded. This trend has been considerably
weakened in some lines in the more recent period.
Two general exceptions to the above trends may be noted.
The six largest restaurant chains as a group have since 1939
consistently shown relatively lower sales gains than have
other chains. This has also been true of grocery chains
except for the immediate postwar years. In this case, the
decline in the average number of stores operated by the six
largest chain organizations has been especially large—although the average size of store has increased considerably.
The Volume of Government Purchasing
J.HE annual midyear review of the Federal Budget is of
particular interest at this time in view of recent developments
affecting the future course of Federal expenditures and
revenues. Although Federal programs are in the process of
further review, the estimates shown in this statement reflect
action by the Congress and the Administration on the Budget
for 1954 and take account of the truce in Korea.
The revised estimates of Federal expenditures indicate
that the Federal Government will purchase around $57
billion of goods and services in the present fiscal year, about
the same amount as was purchased during fiscal year 1953.
With regard to State and local government purchases, the
combination of higher revenues and pressing needs is likely
to result in larger outlays for pay rolls, new construction, and
other goods so that these expenditures are expected to show
a continuation of the $1 to $2 billion annual increase which
has been characteristic of recent years.
This situation with respect to government purchases is in
marked contrast to that of the first two years following the
invasion of South Korea, a period during which such outlays
increased from $40 billion to $78 billion at annual rates and
accounted for about three-fifths of the rise in gross national
product. Nevertheless, the direct and indirect economic
effects of a stable market of the magnitude provided by these
governments are of widespread significance. Moreover, the
adjustment to this pattern of government outlays has in
large measure already taken place. During the past year,
developments in private spending have dominated the
economic situation to an increasing extent while the share of
the national output going to Federal, State, and local governments has remained practically unchanged at about 22
percent.
A stimulus to private consumption and investment in the
latter part of this fiscal year will be provided by changes in
267170°—53
2
the Federal tax structure. Scheduled tax rate reductions
imply a decline from the current rate of Federal tax liabilities
of both business and individuals.
Federal cash income and outgo
Federal cash payments to the public for goods and services
and for other purposes in fiscal 1954 are now estimated at
$75.5 billion, about $1 billion less than the outgo during the
year just ended. In terms of the administrative budget
statement, which includes intragovernmental transactions
but excludes the trust fund expenditures, the difference is
somewhat larger: fiscal year 1954 budget expenditures are
estimated at $72.1 billion as compared with $74.6 billion last
year.
Table 6.—Cash Income and Outgo of the Federal Government
[Billions of dollars]
Fiscal years
1951
Cash income
Cash outso -_
Cash deficit ( — ) or surplus
53.4
45.8
7.6
1952
68.1
68.0
.1
1953
71.3
76.6
—5.3
1954
(estimated)
75.1
75.5
—.5
Source: Reviea of the 1954 Budget, Bureau of the Budget: Treasury Bulletin, U. S. Department of the Treasury.
Although Federal cash expenditures are expected to be
maintained at close to the fiscal year 1953 rate, an improvement in the deficit-surplus position is forecast for the present
fiscal year (see table 6). The higher levels of national income
and product—assuming present tax laws which provide for
10
SURVEY OF CURRENT BUSINESS
downward revisions in tax rates estimated to reduce revenues
this fiscal year by roughly $2 billion—are expected to yield
almost $4 billion in additional cash receipts over the $71.3
billion total for fiscal year 1953. Individual income tax receipts, despite the reduction in rates scheduled for next
January, are estimated to increase by $1.5 billion. Higher
corporate profits tax collections account for an additional
$1 billion of the estimated rise in cash income.
The economic impact of Federal operations during the
next year must include consideration of the likely changes
in the rate of spending, the tax prospect, and the resultant
change in the deficit or surplus. During the first two years of
the defense buildup, the economic effects of the large increases
in expenditures were partially offset by the net withdrawals
from spending streams resulting from the excess of Federal
cash receipts. In fiscal 1953, expenditures leveled off but
a cash deficit of $5.3 billion was incurred. On the basis of
the Budget Review, the cash deficit for this fiscal year as a
whole is expected to be almost $5 billion below that for the
last fiscal year.
In evaluating the economic impact of Federal programs,
it is instructive to consider also the surplus or deficit on income and product account as it is measured in national income accounting. In this framework, taxes are treated on
an accrual basis so that corporation income taxes are dated
at the time the income is earned. Here, two points are
noteworthy, again allowing for the expiration dates of existing taxes and taking no account of possible future legislation. First, the deficit on income and product account
would be about the same in fiscal 1954 as in 1953. Second,
on the basis of scheduled tax rate reductions, this deficit
would be larger in the second half of the fiscal year than in
the first, on a seasonally adjusted basis.
Table 7.—Selected National Security Programs Amounts Available
for Expenditure and Expenditures 1
[Billions of dollars]
Total
Major pro- Foreign
curement and military
production
aid
7.3
6. 1
1.2
New obligational authority enacted for fiscal years:
1951
" . ._
1952__
1953
1954
27.8
34.4
24.0
2 14.0
22.8
29.2
19.8
10.1
5.0
5.2
4.2
24.0
Total amount available for expenditure -
107.5
88.0
19.5
5.1
13.2
21.1
4.2
11.0
17.3
.9
2.2
3.8
Total expenditures July 1, 1950— June 30, 1953
39.4
32.5
6.9
Unexpended balance July 1, 1953
68.0
55.5
12.5
Expenditures in fiscal years:
1951
1952
1953
_
_-
1. Based on Defense Department estimates, Review of the 1954 Budget, and data from the
Daily Treasury Statement.
2. Breakdown of new obligational authority made available for the Mutual Security
Program in fiscal year 1954 as between military and economic aid not available. However,
it appears that appropriations for foreign military aid this fiscal year will be $3.5-4.5 billion.
Source: U. S. Department of Commerce, Office of Business Economics.
Thus, the full impact of the reductions provided by existing legislation, amounting to $8 billion on an annual basis,
would not be felt until the end of the fiscal year. Corporate
profits tax accruals will be reduced beginning in January
1954, when the excess profits tax expires, and again on
April 1, 1954, if the normal corporation rate is then reduced
by 5 percentage points as existing legislation now provides.
Individual income tax rates are to be reduced by an average
10-11 percent next January, and the terminal date of the
last increase in excise taxes is April 1. Some offset to the
reduction in personal taxes is provided by the increase in
payroll taxes under the social security program on January 1.
A general review of the tax structure is under way so that
it is not possible at this time to know the taxes that will
actually be levied.
Federal purchases to remain large
A preliminary estimate of Federal purchases of goods and
services for the period July 1953-June 1954, consistent with
the $72.1 billion estimate of budget expenditures during the
year indicates that the Federal Government will provide
about the same market for goods and services this fiscal
year as was the case during fiscal year 1953.
Loans, subsidies, and certain other nonpurchase items account for a large part of the estimated reduction in total
budget expenditures during fiscal year 1954. Loans for
housing and community development purposes were substantially reduced while the postal deficit for the present
year is now estimated at $450 million as compared with
$690 million last fiscal year.
Purchases of goods and services for national security purposes are estimated at $50.5 billion for the year ending next
June 30, a total 5-6 percent below the annual rate at the end
of fiscal year 1953. Since national security purchases are
expected to show a slight decline in the current quarter, this
estimate for fiscal 1954 implies that the current rate will be
about maintained during the next nine months.
Economies in general government operations and a decline
in new construction for civilian purposes are being effectuated.
However, uncertainty concerning the magnitude of purchases by the Commodity Credit Corporation, in particular
makes it difficult to estimate purchases for the non-national
security programs as a whole, which amounted to about $6
billion in fiscal 1953.
Defense spending relatively stable
Defense Department major procurement and foreign military aid
Unexpended balances, July 1 , 1950
September 1953
Defense Department spending for military functions will
account for roughly three-fifths of total Federal budget expenditures this fiscal year, the same proportion as in fiscal
year 1953. Thus, the future course of Federal purchases of
goods and services will be largely determined by the various
defense programs.
During the past 12-18 months the inventories of spare
parts and most other procurement items included under the
heading of operating costs attained levels commensurate with
needs. At the same time, the size of the armed forces has
remained fairly constant. As a result, a reduction in the
operating expenditures of the Defense Department has been
possible. In fiscal year 1953, expenditures for these purposes
are estimated at $24.3 billion.
Despite certain savings in operating costs resulting from
the truce in Korea, as long as the armed forces remain at
the present strength, no significant reduction in expenditures
for these programs is envisaged.
The probable future course of purchases of major military
equipment depends to a large extent upon factors which are
difficult to foresee. Even assuming no change in the international situation, significant adjustments to the munitions
schedules may result from the studies of national security
needs undertaken by the Joint Chiefs of Staff. Furthermore,
total expenditures for the munitions items is a composite
of the various hard goods programs, some of which have
stabilized, or are declining, while others continue to expand.
Table 7 shows the amounts made available by Congress
and the expenditures for major procurement and production
by the Defense Department and for foreign military aid
during the past 38 months. The foreign military aid program has been included in this table since most of the ex-
SUEVEY OF CURRENT BUSINESS
September 1953
penditures for this purpose are for munitions in the hard
goods category.
As a result of increased expenditures and reduced appropriations, the availability of funds for major procurement
and production by the Defense Department and for foreign
military aid in fiscal year 1954 is about $7 billion less than
the total for the previous year. Nevertheless, $68.7 billion
was available at the beginning of this year.
State and local purchases up
State and local purchases of goods and services, which have
been increasing at an average annual rate of more than $1.5
billion for the past several years, are expected to show a
further rise during the next twelve months. Since purchases by these governments are associated with the continuing needs of an expanding population, they are not
subject to the wide fluctuations introduced into the Federal
budget by defense requirements.
Although there is no summary budget information available indicating the planned expenditures of State and local
governments during the coming year, the outlook for purchases of goods and services by these governments may be
appraised in terms of the demand for services rendered by
them as well as their present fiscal and debt situation.
The overall fiscal situation of State and local governments
has improved somewhat despite the increasing outlays for
goods and services. Whereas purchases by these governments increased from $20.6 billion to $24.0 billion at annual
rates from the fourth quarter 1950 to the fourth quarter
11
1952, the State and local deficit on the income and product
account was reduced from $1.3 billion in calendar year 1950
to less than $100 million in calendar year 1952. With the
current rate of such purchases now close to $25 billion, preliminary estimates indicate that State and local receipts and
expenditures on the income and product account will be
roughly in balance again this year.
In recent years, the net debt of State and local governments
(excluding the duplicating debt) has increased steadily at
about $2.5 billion a year. At the same time, those State and
local units with a more favorable financial position have increased their holdings of demand and time deposits, Federal
securities, and other assets at about a similar rate. However,
purchases of these assets are not included with expenditures
on the income and product account and hence are not reflected in the deficit or surplus position on this basis.
Although State and local units generally have had a less
favorable market for their obligations during the past year
or so, the more attractive yields being offered investors
is expected to provide funds for capital outlays to about the
same extent as in recent years. Moreover, the aggregate net
interest paid by State and local governments has not changed
appreciably.
Against the background of growing needs and the deficiencies in the present State and local plant as described in
Markets after the Defense Expansion, the revenue increases
consistent with continuing high levels of national income and
product, and the feasibility of further debt formation, though
at increasing costs, provide the basis for a continuation of the
uptrend in State and local government purchases of goods
and services.
Balance of Payment Trends
During the Second Quarter
_
international transactions during the second quarter
O
reflect the continued high volume of business in the United
States, and a resumption of the upward trend of production
in some of the major foreign industrial countries.1 Foreign
purchases of merchandise—particularly of durable manufactured goods—increased more than United States imports,
while at the same time foreign countries continued to raise
their gold and dollar assets. The rise by about $450 million
would have been even higher if some of the foreign dollar
receipts had not been used to speed up the repayment of
both long- and short-term debts to the United States. Such
repayments are reflected in the movements of "other" long1. The area breakdown of the balance of payments will be published in the October issue
of the SURVEY, since area data for several major accounts were not available in time for this
issue.
term and short-term private capital to the United States
amounting to nearly $300 million.
Omitting temporary dollar accumulations and the repayment of short-term debts by Brazil by drawing $120 million
on an Export-Import bank credit specifically provided for
the consolidation of such debts, net foreign assets increased
during the second quarter by $630 million as compared with
about $800 million during the preceding quarter.
Except for goods and services supplied under military aid
programs, the $630 million rise in foreign assets during the
quarter exceeded net United States Government foreign aid
(both grants and loans but excluding the special credits to
Brazil) by over $200 million.
The fact that many foreign countries preferred not to
spend all dollar receipts on goods and services indicates a
SUKVEY OF CURRENT BUSINESS
12
September 1953
desire to strengthen their apparently still inadequate reserve
foreign gold and liquid dollar assets at the end of June may
position. This rise in foreign gold and dollar assets has conbe estimated at about $21.6 billion or about $1 billion more
tinued without interruption since March 1952 and has than at the end of 1945 and nearly as high as the monetary
gold stock of the United States, valued at $22.5 billion.
However, over $4 billion of the foreign gold and dollar assets1
Table 8.—Balance of Payments of the United States, First and
belong to Canada and Switzerland. The remaining gold
Second Quarter 1952 and 1953
and dollar assets are held by countries with total imports
[Millions of dollars]
of about $47 billion in 1952 (omitting trade between sterling
area countries) as against total imports of $15 billion by the
All Areas
United States, Canada, and Switzerland. Although the size
of imports is only one of several factors determining the need
Item
1952
1953
for gold and dollar reserves, the relatively low ratio for many
II»
I
II
P
countries explains the desire for continued accumulations.
The rise in foreign reserves by an amount even greater
Exports of goods and services:
than United States Government aid (excluding aid in the
4,489
Merchandise, adjusted
4,093
4,256
4201
Transportation
_ _
327
'405
317
••440
form of military supplies and services) does not imply, how112
157
102
148
Trawl
ever, that the foreign demand for, and supply of dollars
Miscellaneous services:
173
176
164
165
Private
could be balanced through commercial transactions. First,
112
127
130
Government 96
Income on investments:
there are still restrictions on foreign dollar demand, the effect
409
435
420
Private
388
of which can hardly be measured—although the rise in free
28
17
31
Government
- _
30
exchange rate between foreign currencies and the dollar
5,742
5,425
5,422
5,359
Total
during recent months indicated that the suppressed dollar
Imports of goods and services:
demand is declining. Second, more than $600 million of
3,123
2,984
Merchandise, adjusted
2,960
2,845
264
294
Transportation
_ _
••251
••288
foreign dollar receipts represent foreign expenditures by the
143
232
203
135
Travel
Miscellaneous services:
Armed Forces, including purchases for retransfer under
70
66
71
Private
70
military aid programs. The rise in foreign dollar receipts
464
479
Government
365
375
Income on investments:
from such expenditures since the invasion of South Korea
87
91
Private
80
100
20
12
Government
12
20
nearly offset the decline in nonmilitary aid received by them.
However, dollars received by foreign countries from this
4,037
4,305
Total
3,869
3,893
source, unlike aid, require the use of their resources, which,
1,437
Balance on goods and services
1,388
1,553
1,466
in principle at least, would be available for the production of
Unilateral transfers [net to foreign countries (— )] :
export goods and services when the military demand declines.
-122
-102
-120
Private
-98
Government:
Other service transactions also contributed to the improveMilitary supplies and services l .
-1,282
-1,387
-441
-587
Other foreign aid
-478
ments in the foreign dollar position. The decline in the net.
-623
-408
-471
-33
Other transfers
-35
-37
-28
credit balance on transportation from $53 million in the first
-2,020
—1,908
Total
-979
-1,345
quarter to $33 million reflects partly a seasonal rise in
Balance on goods and services and unilateral
tourist traffic. More significant, however, was the drop
-520
-583
transfers (net foreign investment)
121
574
from the second quarter of 1953, amounting to $84 million,
United States capital [net outflow (— )]:
the reasons for which are explained in a special article in this
Private:
Direct investments . _ _
issue of the SURVEY. Tourist expenditures rose more than
-362
-194
-199
-166
Other long-term.
172
-35
-61
-117
seasonally but a part of the rise may be attributed to an
Short-term.
_
113
-56
10
3
Government:
advance in travel to view the Coronation festivities in the
Long-term
_
-142 . -186
30
-58
United Kingdom.
Short-term
-23
n. a.
-20
1
Aid in the form of military supplies and services continued
Total
28
-209
-365
744
to rise. Reaching an annual rate of about $5.5 billion, it
Foreign capital [net outflow (— )]:
constituted about 75 percent of total grant aid to foreign
Long-term:
Transactions in United States Governcountries. Other aid had not changed from the preceding
ment securities
14
26
8
17
Other investments
63
-15
-15
23
quarter, and in fact, was not much lower than the average
Short-term:
quarterly rate during the first half of 1952.
Official and banking
109
26
435
323
Other
Gold sales, [purchases (— )]
Balance on foreign capital and gold- _ _
Errors and omissions
_. _ - _
50
-556
-404
195
40
603
-37
128
385
758
454
238
—29
101
55
-104
r
Revised.
* Preliminary.
n. a. Not available.
1. Includes loans or returns of military equipment.
Source: U. S. Department of Commerce, Office of Business Economics.
amounted to $2.8 billion. Of this amount $2.6 billion represent gold, short term or other liquid dollar assets.
Foreign countries9 position improved
Sufficient reserves to meet the normal fluctuations in
international transactions are, of course, one of the prerequisites for any relaxation of exchange restrictions. Total
Capital flows both ways
The outflow of private capital for direct investments was
well maintained, but this was offset to a large extent by an
inflow of portfolio capital. The latter included the repurchase by the Canadian Government of $75 million of its own
bonds at prices which were below par as a result of the rise
in interest rates in the United States. Some large bank
loans were also repaid, possibly induced by the relative scarcity of loan funds in the United States as compared with certain European centers.
In the main, the inflow of short-term capital as well as the
repayments of long-term loans indicate larger supplies of
dollar resources abroad and a rising ability of foreign coun- »
tries to use current dollar receipts for the reduction of their
liabilities.
by Elwyn T. Bonnell and John A. Gorman
Changes in Public and Private Debt
_ JET public and private debt totaled $553 billion at the
Ni
close of 1952—$31% billion above that outstanding at the end
of 1951. This advance was of about the same magnitude
as the increase which occurred in 1951. Partial data available indicate that total debt has continued to expand during
1953 at a rate which may equal or surpass that in 1952.
Gross debt, before consolidation of borrowers' accounts as
explained in the technical note to this report, reached a total
of $643 billion at the end of last year. Gross public debt
moved up 4 percent and gross private debt 8 percent during
1952.
The rise in net debt last year, as in other postwar years,
was likewise dominated by the change in private obligations
(see chart). Three-quarters of the year's advance—$23.5
billion—was centered in net private indebtedness, which
amounted to $303 billion on December 31, 1952—8 percent
above the total a year earlier. Additions of $5% billion to
Federal Government net debt and $2% billion to State and
local government obligations together represented a public
debt increase of about 3 percent.
As a result of the more rapid growth in private borrowings,
the proportion of total net debt accounted for by private
^obligations increased to 55 percent at the end of 1952, in
comparison with 53% percent in 1951 and the wartime low of
34 percent in 1945.
All major debt categories (table 1) expanded in 1952. The
$7% billion increase in noiifarm mortgages and $4 billion rise
in consumer credit together accounted for roughly half of the
total private debt expansion. The consumer credit rise represented a 20 percent advance. A similar advance had occurred in 1950, but the intervening year 195k had shown only
a 3 percent change.
Most of the remaining 1952 increase in the private sector
was accounted for by corporate debt, which rose less than in
1950 or in 1951.
Private debt expansion in 1952 was an accompaniment of
high production, sales, and investment. While private indebtedness increased $24 billion, individuals and businesses
added $10% billion to their holdings of cash, deposits, and
U. S. Government securities, and made gross investments of
$52% billion in new homes, plant, productive equipment, and
additional business inventories.
The monetary, credit, price-wage, and material allocation
policies in force throughout 1951 had been instrumental in
restraining the growth of private debt during that year. In
1952, improved supplies of critical materials, and more
gradual expansion of defense outlays, led to relaxation or
suspension of selective economic controls.
Credit controls in 1952
Control of consumer credit through the Federal Reserve
Board's Regulation W, which tended to increase downpayments and shorten maturities, was relaxed in July 1951
and suspended in May 1952.
NOTE.—ME. BONNELL AND MR. GORMAN ARE MEMBERS OF THE NATIONAL INCOME DIVISION, OFFICE OF BUSINESS ECONOMICS.
Regulation X and the collateral regulations of the Federal
Housing Administration and the Veterans' Administration
remained in effect until September 1952. These were designed to increase downpayments and shorten maturities in
the field of real estate credit. Regulation X, which had
been eased somewhat in September 1951, was liberalized in
All major categories of debt
advanced in 1952
0
INCREASE, 1951 TO 1952- BILLIONS OF DOLLARS
5
10
15
20
25
30
35
TOTAL NET DEBT
TOTAL PRIVATE
%
NONFARM MORTGAGE
CORPORATE LONG-TERM
CONSUMER CREDIT
CORPORATE SHORT-TERM
NONCORPORATE FINANCIAL 8 NONCORPORATE
NONFARM COMMERCIAL
FARM PRODUCTION
FARM MORTGAGE
TOTAL PUBLIC
FEDERAL GOVERNMENT
8 FEDERAL AGENCY
"—i
mm*
STATE a LOCAL
GOVERNMENT
U. S. DEPARTMENT OF COMMERCE. OFFICE OF BUSINESS ECONOMICS
5J - //4 -5
June 1952 by decreasing required downpayments. It was
suspended in September under the terms of the Defense
Production Act amendments of 1952, after the number of
residential units started monthly had fallen below 100,000
(seasonally adjusted) in Jane, July, and August.
The Voluntary Credit Restraints Program, an instrument
of selective credit control depending upon cooperative participation by private lending institutions, which provided
13
SUEVEY OF CUREENT BUSINESS
14
September 1953
Table 1.—Net Public and Private Debt, End of Calendar Year, 1916-52
[Billions of dollars]
•
Public
Public and
private,
total
End of year
Private
Corporate
Total
Federal
State and
local
Individual and noncorporate
Mortgage
Total
Total
Long-term Short-term
Nonfarm
Farm
1916
1917
1918
1919
1920
1921
1922
1923
1924
1925
1926
1927
1928
1929
1930
1931
1932
1933
1934
1935
1936
1937
1938
1939
1940
1941
1942
1943
1944
1945
1946
1947
1948
1949
1950
1951
1952
-
-
-
- ---
_ . . .. _
- . ._-
. .-._ ...
- -
_
.
_.
._
.
. _.
.
. .- - -
_ ---
. _
_
- _ _ _ _^_
_. .
.
_.
-
--- --
82.1
94.4
117.4
128.0
135.4
135.8
140.0
146.3
153.0
162.6
168.8
177.3
185. 9
190.9
191.0
181.9
174.6
168.5
171.4
174.7
180.3
182.0
179.6
183.2
189.9
211.6
259.0
313. 6
370.8
406.4
397.5
418.0
434.3
447.9
488.2
521.2
552.7
5.6
12.0
25.9
30.8
29.6
29.6
30.5
30.0
30.0
30.3
29.9
29.7
29.8
29.7
30.6
34.0
37.9
41.0
46.3
50.5
53.9
55.3
56.5
58.9
61.3
72.6
117.5
169.3
226.0
266.4
243.3
237.7
232.7
236.7
239.4
242.0
250.0
1.2
7.3
20.9
25.6
23.7
23.1
22.8
21.8
21.0
20.3
19.2
18.2
17.5
16.5
16.5
18.5
21.3
24.3
30.4
34.4
37.7
39.2
40.5
42.6
44.8
56.3
101.7
154.4
211.9
252.7
229.7
223.3
216.5
218.6
218.7
218.7
224.2
4.4
4.7
5.0
5.2
5.9
6.5
7.7
8.2
9.0
10.0
10.7
11.5
12.3
13.2
14.1
15.5
16.6
16.7
15.9
16.0
16.2
16.1
16.0
16.3
16.5
16.3
15.8
14.9
14.1
13.7
13.6
14.4
16.2
18.1
20.7
23.3
25.8
76.5
82.4
91.5
97.2
105.8
106.2
109.5
116.3
123.0
132. 3
138.9
147.6
156.1
161.2
160.4
147.9
136.7
127.5
125.1
124.2
•126. 4
126.7
123. 1
124. 3
128.6
139.0
141.5
141.3
144.8
140.0
154.2
180. 3
201.6
211.2
248.8
27$. 2
302.7
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).
29.1
29.7
30.2
31.0
32.6
33.8
34.4
36.2
38.5
39.7
41.7
44.4
46.1
47.3
51.1
50.3
49.2
47.9
44.6
43.6
42.5
43.5
44,8
44.4
43.7
43.6
42.7
41.0
39.8
38.3
41.3
46.1
52.5
56.5
60.1
64.6
69.9
40.2
43.7
47.0
53.3
57.7
57.0
58.6
62.6
67.2
72.7
76.2
81.2
86.1
88.9
89.3
83.5
80.0
76.9
75.5
74.8
76.1
75.8
73.3
73.5
75.6
83.4
91.6
95.5
94.1
85.3
93.5
108.9
118.0
117.8
139.6
158. 8
167.4
11.1
14.0
16.8
22.3
25.1
23.2
24.2
26.4
28.7
33.0
34.5
36.8
40.0
41.6
38.2
33.2
30.8
29.1
30.9
31.2
33.5
32.3
28.4
29.2
31.9
39.8
49.0
54.5
54.3
47.0
52.2
62.8
65.5
61.3
79.5
94.2
97.6
Nonmortgage
Total
36.3
38.7
44.5
43.9
48.1
49.2
50.9
53.7
55.8
59.6
62.7
66.4
70.0
72.3
71.1
64.4
56.7
50.6
49.6
49.4
50.3
50.9
49.8
50.8
53.0
55.6
49.9
48.8
50.7
54.7
60.7
71.4
83.6
93.4
109.2
120.4
135. 3
2
Farms
8.4
9.3
9.6
10.1
11.7
12.8
14.1
16.3
18.6
21.3
24.0
26.9
29.6
31.2
32.0
30.9
29.0
26.3
25.5
24.7
24.4
24.3
24.5
25.0
26.0
27.2
26.8
26.2
26.1
27.0
32.5
38.7
45.1
50.6
59.4
67.4
74.8
5.8
6.5
7.1
8.4
10.2
10.7
10.8
10.7
9.9
9.7
9.7
9.8
9.8
9.6
9.4
9.1
8.5
7.7
7.6
7.4
7.2
7.0
6.8
6.6
6.5
6.4
6.0
5.4
4.9
4.8
4.9
5.1
5.3
5.6
6.1
6.6
7.1
Nonfarm *
2.0
2.5
2.7
3.5
3.9
3.3
3.1
3.0
2.7
2.8
2.6
2.6
2.7
2.6
2.4
2.0
1.6
1.4
1.3
1.5
1.4
1.6
2.2
2.2
2.6
2.9
3.0
2.8
2.8
2.5
2.8
3.5
5.5
6.4
6.1
7.0
8.0
20.1
20.4
25.1
21.9
22.3
22.4
22.9
23.7
24.6
25.8
26.4
27.1
27.9
28.9
27.3
22.4
17.6
15.2
15.1
15.7
17.3
18.0
16.4
17.0
17.9
19.2
14.1
14.4
16.9
20.5
20.6
24.1
27.7
30.8
37.6
39.^
45.1
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.
Table 2.—Gross Public and Private Debt, End of Calendar Year, 1929-52
[Billions of dollars]
Private
Public
Public and
private,
total
End of year
Corporate
Total
Federal*
State and
local
Individual and noncorporate
Total
Mortgage
Total
Long-term Short-term
Farm
1929
1930
1931
1932
1933
1934
1935
1936
1937
1938
1939
1940
1941
1942
1943
1944
1945
1946
1947
1948
1949
1950
1951
1952
.__
- -
- - -
__.
._
_
_.
. . .
-
-
._
.
-
- -
Nonfarm
2
Farms
Nonfarm *
17.2
18.5
19.5
19.6
19.8
179.3
178.5
164.7
152.8
143.0
107.0
107.4
100.3
96.1
92.4
56.6
61.1
60.1
58.8
57.2
50.4
46.3
40.3
37.3
35.2
72.3
71.1
64.4
56.7
50.6
9.6
9.4
9.1
8.5
7.7
31.2
32.0
30.9
29.0
26.3
2.6
2.4
2.0
1.6
1.4
28.9
27.3
22.4
17.6
15.2
37.9
41.7
45.1
47.8
47.4
19.2
19.3
19.6
19.6
19.6
140.2
139.2
141.2
141.1
136.6
90.6
89.8
90.9
90.2
86.8
53.2
52.0
50.5
51.5
52.8
37.4
37.8
40.4
38.7
33.9
49.6
49.4
50.3
50.9
49.8
7.6
7.4
7.2
7.0
6.8
25.5
24.7
24.4
24.3
24.5
1.3
1.5
1.4
1.6
2.2
15.1
15.7
17.3
18.0
16,4
70.1
73.8
89.2
142.9
205.4
50.1
53.6
69.0
123.2
186.7
20.0
20.2
20.2
19.7
18.7
137.6
142.0
153.1
156.2
159.1
86.8
89.0
97.5
106.3
110.3
52.1
51.2
51.2
50.2
48.4
34.7
37.7
46.3
56.2
62.0
50.8
53.0
55.6
49.9
48.8
6.6
6.5
6.4
6.0
5.4
25.0
26.0
27.2
26.8
26.2
2.2
2.6
2.9
3.0
2.8
17.0
17.9
19.2
14.1
14.4
430.9
463.4
458.0
486.2
499.3
271.2
309.2
288.0
286.6
276.7
253.7
292.6
272.1
269.8
258.0
17.5
16.6
15.9
16.8
18.7
159.7
154.2
170.0
199.6
222.6
109.0
99.5
109.3
128.2
139.0
47.0
45.3
48.4
55.0
62.8
62.0
54.2
60.9
73.2
76.2
50.7
54.7
60.7
71.4
83.6
4.9
4.8
4.9
5.1
5.3
26.1
27.0
32.5
38.7
45.1
2.8
2.5
2.8
3.5
5.5
16.9
20.5
20.6
24.1
27.7
519.7
564.3
604.3
643.2
287.0
290.6
297.3
310.3
266.1
266.4
270.3
280.7
20.9
24.2
27.0
29.6
232.7
273.7
307.0
332.9
139.3
164.5
186.6
197.6
67.7
72.2
77.5
83.9
71.6
92.3
109.0
113.7
93.4
109.2
120.4
135.3
5.6
6.1
6.6
7.1
50.6
59.4
67.4
74.8
6.4
6.2
7.0
8.0
30.8
37.6
39.5
45.4
214.0
214.3
203.3
195.2
190.5
34.7
35.8
38.6
42.4
47.5
17.5
17.3
19.1
22.8
27.7
197.3
200.2
205.9
208.5
203.6
57.1
61.0
64.7
67.4
67.0
207.7
215.8
242.3
299.1
364.5
.
"Includes categories of debt not subject to the statutory debt limit.
1. Data for State and local governments are for June 30 of each year. Components will not
necessarily add to total 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.)
Nonmortgage
Total
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.
September 1953
SURVEY OF CURRENT BUSINESS
defense-related criteria in screening proposed loans, was
discontinued in May 1952.
Only the Federal Reserve Regulations T and U, which
control margin requirements on loans to purchase or carry
securities, were in force throughout the year. Margin
requirements were held at 75 percent during 1952, but
dropped to 50 percent in February of this year.
Although selective credit restraints were softened in application or discontinued, there remained the Federal Reserve
System's instruments of general credit policy. Following the
accord reached with the Treasury Department in March
1951, the System was in a better position to employ its traditional devices of open-market buying and selling of securities, regulation of member bank reserve requirements, and
variation in rediscount rates, in order to influence the availability of bank reserves and the consequent supply of credit
and money. The Federal Reserve System used its powers
throughout 1952 to exert a continuing moderate dampening
pressure on extensions of bank credit.
Interest rates rose in 1952. The effect of the higher interest rate on new loans did not raise the average oil the aggregate debt outstanding by much. This was largely because
of the preponderant weight in total debt of obligations carried
over from prior years. The computed average interest rate
is currently about half of that effective in 1929—an aggregate
debt 3 times that in 1929 is thus carried by interest charges
only one-half larger.
Federal Government debt expands
The $10% billion increase in gross Federal debt includes
additions to holdings of Federal securities within the Government (mainly special issues held by Federal agencies and in
trust funds for the account of individuals) as well as net new
borrowings of $5% billion from the public. In addition to
financing the budget deficit, the rise in debt during 1952 permitted a net increase of almost $2 billion in the Treasury
general fund balance. Federal Government net debt totaled
$224 billion at the close of 1952 and gross debt—including
agency obligations not subject to the statutory debt limit—
over $280 billion.
By the end of August 1953, Federal Government net debt
was approximately $4 billion higher than on December 31,
1952, while gross Federal debt rose $6 billion during the same
period. Nearly all of this rise stemmed from heavy Treasury
borrowing operations in July to cover the anticipated third
quarter Budget deficit. With the seasonal concentration of
receipts in the first half of 1953, Federal net and gross debt
had declined during the first six months.
Since most of the Treasury's new borrowing during 1952
was concentrated in the second half of the year and in lowinterest-bearing short-term securities, particularly taxanticipation bills, Federal Government net interest payments
were very little higher in 1952 than in 1951. The computed
average interest rate on publicly held securities was not
altered appreciably between 1951 and 1952.
State and local rise continues
State and local government net debt amounted to $25.8
billion at the end of June 1952, a $2% billion increase during
the fiscal year. State governments added one-seventh to
outstanding obligations and local governments added onetenth. The combined advance was slightly smaller than in
1950 or 1951.
The bulk of receipts from such borrowing was used to
finance the construction of school and other community
facilities, roads and bridges. The need for the improvement and expansion of such facilities has led to sizable debt
additions throughout the postwar years. It should be
15
noted in this connection that State and local governments
as a group have also added substantially to their holdings of
cash and securities in recent years.
The volume of new offerings so far in 1953 indicates that
the rise has continued, although State and local governments experienced some difficulty in marketing some issues
during 1952 and 1953. The large supply of these securities
necessitated some price concessions in order to broaden
their market by attracting investors with less to gain from
the tax-exemption features.
Other factors limiting the rate of debt formation by State
and local governments during fiscal year 1952 included the
end of borrowing to pay veterans' bonuses, the accomplishment of minimum construction objectives by some units,
voters' resistance to proposed capital outlays, review of
proposals by Voluntary Credit Restraint Committees, and
restricted supplies of critical materials.
Despite these conditions, the expansion of local debt in
1952 was about the same as in 1950-51. Borrowing by
States, however, was significantly less than in either of the
two preceding years.
Approximately two-thirds of the 1952 increase in State
debt was incurred to finance highway construction, particularly toll roads. Most of the remaining additional debt arose
from loans to assist education.
Postwar debt change dominated
by private obligations
BILLIONS OF DOLLARS
600
500 -
400 -
300 -
200 -
100
1929
31
33
35
37
39
41
43
45
47
U. S. DEPARTMENT OF COMMERCE. OFFICE OF BUSINESS ECONOMICS
49
51
53
53 ~ 114 - 6
All categories of local government participated in the
$1% billion rise in local government net debt during fiscal
year 1952. For the sixth successive year, school districts
led in the rate of increase—adding 17 percent. A sizable
proportion of the new debt of counties, cities, and townships
was also incurred for school purposes. (About one-fourth of
public school attendance is within the scope of governmental
units other than separate school districts.)
County debt rose 10 percent in fiscal year 1952, city and
township indebtedness advanced 6 percent, and special
district debt was up 13 percent.
The rate of increase in total net corporate debt dropped
to 5 percent in 1952, as compared with 14 percent in 1951 and
18 percent in 1950. This retardation occurred in the short-
SURVEY OF CURRENT BUSINESS
16
term components of corporate debt. Net long-term obligations increased at a rate exceeding expansions in 1950 and
1951, accompanying record corporate investment in new
plant and equipment.
Corporate outlays for new plant and equipment reached
September 1953
$22YZ billion in 1952 and are scheduled to increase moderately
during 1953 as a whole. The book value of corporate inventories, on the other hand, rose less than $2 billion in 1952 in
contrast to an advance of $10 billion in each of the two
previous years. Reduction of Federal income tax liabilities
in 1952 because of reduced corporate earnings was an
Table 3.—Gross and Net Federal Government Debt, End of Calendar Years, 1929-52
[Millions of dollars]
Gross debt
Duplicating debt
Federal Government
Federal
Government
and
Federal
agency,
total*
End of year
Interest bearing
Total
Total
Public
issues
Special
issues
Noninterest
bearing 1
Federal
agency 2
Federal
Federal Government
Governsecuriment
ties
and
by
Federal held
Federal
agency, agencies
total
and trust
funds
Net debt
Federal agency securities
Total
3
Held by
U. S.
Treasury
Held in
Federal
trust
funds
Held by
other
Federal
agencies
Federal
Government
and
Federal
agency,
total
6
1
2
57
16, 488
16, 489
18, 464
21,305
24, 251
15, 373
15, 322
17,323
20, 194
22, 862
1,115
1,167
1,141
1,111
1,389
Federal
Government
Federal
agency
1929
1930
1931
1932
1933
17, 527
17, 303
19, 073
22, 833
27, 716
16, 301
16,026
17,826
20, 805
23,815
16,029
15,774
17,528
20, 448
23, 450
15,401
14, 993
17,135
20, 097
23, 079
628
781
393
351
371
272
252
298
357
365
1,226
1,277
1.247
2,028
3.901
1.039
814
609
1 , 528
3, 465
928
704
503
611
953
111
110
106
917
2, 512
810
2,350
104
104
105
105
105
1934
1935
1936
1937
1938
37, 859
41, 654
45, 090
47, 844
47, 437
28, 480
30, 557
34, 406
37, 286
39, 439
27, 944
29, 596
33, 699
36,715
38,911
27, 386
28, 868
33, 067
34, 488
35, 755
558
728
632
2,227
3,156
536
961
707
571
528
9,379
11,097
10, 684
10, 558
7, 998
7,470
7,246
7, 396
8, 608
6,904
2,840
1,731
2,528
3,800
4,990
4, 630
5,515
4, 868
4, 808
1,914
3,585
4,095
3, 685
3, 610
788
106
106
55
46
44
939
1,314
1,128
1,152
1,082
30, 389
34, 408
37, 694
39, 236
40, 533
25, 640
28, 826
31,878
33, 486
34, 449
4,749
5,582
5, 816
5,750
6,084
50,113
53, 569
68, 990
123, 212
186, 666
41,961
45, 040
58, 020
108, 170
165, 878
41, 465
44, 472
57, 533
107, 308
164, 508
37, 234
39, 102
50, 551
98, 276
151,805
4,231
5,370
6,982
9,032
12, 703
496
568
487
862
1,370
8, 152
8, 529
10, 970
15,042
20. 788
7,481
8, 756
12, 706
21,516
32, 229
6, 166
7, 346
9,249
11,928
16, 503
1,315
1,410
3,457
9,588
15, 726
101
90
1,278
5,193
7,848
44
44
43
43
43
1,170
1,276
2,136
4,352
7,835
42, 632
44,813
56, 284
101,696
154, 437
35, 795
37, 694
48, 771
96,242
149,375
6,837
7,119
7, 513
5,454
5,062
1944
1945...
1946
1947
1948
253 694
292, 599
272, 147
269. 753
257, 994
230, 630
278,114
259, 149
256, 900
252, 800
228, 891
275, 693
257, 649
254, 205
250, 580
212, 565
255, 693
233, 064
225, 250
218, 866
16, 326
20, 000
24, 585
28, 955
31,714
1, 739
2,421
1, 500
2, 695
2,220
23, 064
14, 485
12, 998
12, 853
5,194
41,805
39, 857
42, 398
46, 435
41,510
21 , 672
27, 041
30,913
34, 352
37,317
20, 133
12,816
11,485
12, 083
4,193
11,494
11, 775
10, 693
11,840
3, 953
(4)
( 44 )
()
0)
(4)
8, 639
1,041
792
243
240
211,889
252, 742
229, 749
223, 318
216, 484
208, 958
251,073
228. 236
222, 548
215,483
2,931
1,669
1,513
770
1,001
1949
1950
1951
1952
1953 (Aug 31) - -
266, 067
266,415
270, 341
280, 715
(5)
257, 130
256, 708
259, 419
267, 391
273, 206
255, 019
254, 283
257, 070
265, 293
271,145
221, 123
220, 576
221,168
226, 143
230, 157
33, 896
33, 707
35, 902
39, 150
40, 988
2,111
2,425
2, 349
2,098
2,061
8,937
9,707
10, 922
13, 324
(5)
47, 483
47,713
51,678
56, 546
(5)
39, 346
39, 197
42, 281
45, 893
48, 016
8,137
8,516
9,397
10, 653
(5)
7,304
8,470
9,331
10, 606
(5)
(4)
(0
(')
(')
(5)
833
46
66
47
5
()
218, 584
218, 702
218, 663
224, 169
(5)
217,784
217,511
217, 138
221, 498
225, 190
800
1,191
1,525
2,671
(5)
1939
1940
1941
1942
1943
- ...
_ .
4. Less than $500,000.
5. Not available.
"Includes categories of debt not subject to the statutory debt limit.
1. Includes matured debt on which interest has ceased.
2. Bonds, debentures, and notes payable, including securities held by U. S. Treasury.
3. Bonds, debentures, and notes payable.
Source: U. S. Treasury Department.
Table 4.—Gross and Net State and Local Government Debt, June 30, 1929-52
[Millions of dollars]
Duplicating debt 2
Gross debt
Local
State
and
local,
total i
End of fiscal year
1929
1930
1931
1932
1933
1934
1935
1936
1937
1938
-.- ... . .
1939
1940
1941
1942
1943
1944
1945
1946
1947
1948
1949
1950 33
1951 3
1952
---
.__
-
-- --
-
_ .
State
Total
City and School
County towndistrict
ship
Special
district
Local
State
Total
Sinking
funds
Trust,
etc.,
funds
State
and
local,
total
State
Local
Sinkingfunds
Trust,
etc.,
funds
3,350
3,588
3,202
2,085
2,126
2,856
3,049
2, 576
1,411
1,400
494
539
626
674
726
13, 170
14, 119
15, 526
16, 615
16, 724
1,586
1,692
1,860
2,020
2, 066
11,584
12, 427
13,666
14, 595
14, 658
Total
17, 234
18, 459
19, 534
19, 576
19 802
2,300
2,444
2,666
2,896
3.018
14, 934
16, 015
16, 868
16, 680
16, 784
2,270
2,434
2, 564
2,531
2,494
9, 259
9.929
10, 458
10, 342
10, 463
1. 956
2,098
2,210
2,176
2,117
1,449
1, 554
1,636
1, 631
1,710
4. 064
4,340
4,008
2, 961
3, 078
714
752
806
876
952
258
265
303
319
456
487
519
573
633
19, 156
19, 342
19, 617
19, 594
19, 576
3,201
3,331
3,318
3, 276
3, 309
15. 955
16,011
16, 299
16,318
16, 267
2,457
2,420
2,382
2, 345
2,282
9, 651
9,725
10,031
10. 067
9, 923
2, 059
2.000
1.942
1, 884
1,860
1. 788
1, 866
1. 944
2,022
2,202
3,215
3, 297
3. 388
3, 483
3,601
1. 037
1, 099
1, 165
1, 234
1,313
335
351
367
383
412
702
748
798
851
901
2,178
2.198
2,223
2,249
2,288
1,391
1,380
1,371
1,360
1,365
787
818
852
889
923
15, 941
16, 045
16, 229
16, 111
15, 975
2,164
2,232
2,153
2,042
1,996
13, 777
13, 813
14,076
14, 069
13, 979
19, 996
20, 246
20. 226
19, 690
18, 692
3, 343
3, 526
3, 413
3, 211
2,909
16, 653
16,720
16, 813
16, 479
15, 783
2,219
2,156
2,046
1,846
1, 634
10, 215
10, 189
10, 210
10, 079
9,784
1. 837
1,813
1,787
1,701
1, 573
2,382
2, 562
2. 770
2, 853
2, 792
3,682
3,785
3, 889
3. 847
3, 810
1, 369
1, 433
1, 553
1,541
1, 576
396
363
300
276
306
973
1,070
1,253
1,265
1,270
2,313
2, 352
2, 336
2,306
2,234
1,372
1,350
1,358
1,344
1,302
941
1,002
978
962
932
16, 314
16, 461
16, 337
15, 843
14, 882
1,974
2, 093
1,860
1,670
1,333
14, 340
14, 368
14, 477
14, 173
13, 549
17,471
16, 589
15, 922
16, 825
18, 702
2, 768
2, 425
2,358
2 978
3^722
14. 703
14. 164
13, 564
13, 847
14, 980
1,694
1, 545
1,417
1,481
1,408
8,826
8,589
8,267
8,275
9, 135
1, 465
1, 363
1,283
1, 355
1, 560
2, 718
2, 667
2,597
2, 736
2,877
3. 397
2,864
2,349
2,428
2,476
1, 351
1.046
754
804
851
247
175
141
144
154
1,104
871
613
660
697
2, 046
1,818
1,595
1, 624
1, 625
1,142
960
869
860
847
904
858
726
764
778
14, 074
13, 725
13, 573
14, 397
16, 226
1,417
1, 379
1,604
2,174
2,871
12, 657
12,346
11,969
12, 223
13, 355
20, 875
24, 191
27, 040
29, 623
4,024
5, 361
6.373
7,040
16, 851
18, 830
20, 667
22, 583
1, 603
1,707
1,875
2, 066
9,806
11, 247
12, 132
12, 857
2,147
2,710
3, 257
3,801
3, 295
3, 166
3, 403
3, 860
2, 726
3,468
3,693
3, 852
970
1, 398
1,482
1,465
151
( 44 )
()
(4)
819
( 44)
( )
(4)
1, 756
2,070
2,211
2,387
868
985
(44 )
()
888
1,085
(4)
(4)
18, 149
20, 723
23, 347
25, 771
3,054
3,963
4,891
5,575
15,095
16,760
18, 456
20, 196
1. Includes State loans to local units.
2. Comprises State and local government securities held by State and local governments.
3. Data for 1950,1951, and 1952 are not strictly comparable with 1949 and earlier years. (See
"Governmental debt in 1951," Bureau of the Census, December 1951.
State
and
local ,
total
Net debt
4. Not available.
Source: U. S. Department of Commerce, Bureau of the Census and Office of Business
Economics.
SUKVEY OF CURKENT BUSINESS
September 1953
17
Table 5.—Gross and Net Corporate Debt, End of Calendar Year, 1929-52
[Millions of dollars]
All corporations
Short-term 1
End. of year
Total
Longterm i
Total
Nonrailway corporations
Railway corporations
Notes and
accounts
payable
Short-term 1
Short-term 1
Total
Longterm 1
Total
Other
Notes and
accounts
payable
Total
Longterm i
Other
Total
Notes and
accounts
payable
Other
Gross Corporate Debt
1929
1930
1931
1°32
1933
- -
1934
1935
1 936
1937
1938
--- ---
1939
1940
1941
1942
1943
1944
1945
1946
1947
1948
- - _ _ - _ _ _
- -
- - - -
1949
1950
1951
1952
107, 043
107, 425
100 336
96, 110
92, 373
56, 625
61, 086
60, 074
58, 762
57, 161
50, 418
46, 339
40, 262
37, 348
35, 212
35, 436
32, 279
28, 754
25, 289
23, 827
14, 982
14, 060
11. 508
12, 059
11, 385
16, 077
16, 350
16, 358
16,419
16, 457
14, 380
14, 716
14, 782
14, 852
14, 798
1, 697
1, 634
1,576
1. 567
1, 659
725
655
706
686
690
972
979
870
881
969
90, 966
91, 075
83, 978
79, 691
75, 916
42, 245
46, 370
45, 292
43, 910
42, 363
48, 721
44, 705
38, 686
35, 781
33, 553
34,711
31,624
28, 048
24, 603
23, 137
14, 010
13,081
10, 638
11, 178
10,416
90, 613
89, 785
90, 870
90, 216
86, 779
53, 191
51,954
50, 463
51, 506
52, 846
37, 422
37, 831
40, 407
38, 710
33, 933
25, 809
25, 952
27, 088
25, 573
21, 627
11,613
11,879
13, 319
13, 137
12, 306
16,410
16, 397
16,666
16, 635
16, 777
14, 682
14, 540
14, 589
14, 508
14, 495
1, 728
1, 857
2, 077
2, 127
2, 282
685
692
683
632
629
1, 043
1, 165
1,394
1, 495
1,653
74, 203
73, 388
74, 204
73, 581
70, 002
38, 509
37,414
35, 874
36, 998
38, 351
35, 694
35, 974
38, 330
36, 583
31, 651
25, 124
25, 260
26, 405
24, 941
20, 998
10, 570
10, 714
11,925
11, 642
10, 653
86, 807
88 966
97,543
100, 331
110 316
52, 113
51 233
51, 245
50, 165
48, 354
34, 694
37, 733
46, 298
56, 166
61, 962
22, 167
22, 717
26, 156
26, 032
26, 318
12, 527
15, 016
20, 142
30, 134
35, 644
16, 964
17, 170
17,308
17, 684
18, 131
14, 475
14, 544
14, 388
13,983
13, 391
2,489
2, 626
2, 920
3,701
4,740
633
500
529
584
8(58
1, 856
2, 126
2, 391
3, 117
3,872
69, 843
71, 796
80, 235
88, 647
92, 185
37, 638
36, 689
36, 857
36, 182
34, 963
32, 205
35, 107
43, 378
52, 465
57, 222
21,534
22, 217
25, 627
25, 448
25, 450
10, 671
12, 890
17, 751
27,017
31, 772
108, 986
99, 523
109, 292
128, 157
139, 002
47, 018
45, 321
48, 435
54, 988
62, 808
61, 968
54. 202
60, 857
73, 169
76, 194
26, 898
25, 718
31,667
37, 676
39, 451
35. 07(
28, 484
29, 190
35, 493
36, 743
17,221
15,411
13,714
14, 173
13, 995
12. 625
11,874
10, 877
11, 169
11, 124
4. 596
3, 537
2, 837
3, 004
2,871
839
881
799
904
872
3, 757
2. 6-56
2, 038
2, 100
1,999
91, 765
84, 112
95, 578
113, 984
125, 007
34, 393
33, 447
37. 558
43,819
51, 684
57, 372
50, 665
58, 020
70, 165
73, 323
26, 059
24, 837
30, 868
36, 772
38, 579
31,313
25, 828
27. 152
33, 393
34, 744
139, 324
164,464
186 556
197, 558
67, 720
72,153
77, 541
83, 897
71, 604
92, 311
109, 015
113,661
37, 541
47, 307
55, 316
61,322
34, 063
45, 004
53, 699
52, 339
13, 710
14, 280
14, 740
15,011
11, 244
11.264
11,654
11,935
2, 466
3, 016
3, 086
3, 076
769
915
908
908
1, 697
2. 101
2,178
2, 168
125, 614
150, 184
171,816
182, 547
56, 476
60, 889
65. 887
71, 962
69, 138
89, 295
105, 929
110.585
36, 772
46, 392
54, 408
60, 414
32, 366
42, 903
51, 521
50, 171
Duplicating Corporate Debt
1929
1930
1931
1932
1933
-
_-
-
-_
1934
1935
1936
1937
1938
1939
1940
1941
1942
1943
-
1944
1945
1946
1947
1948
- -_
._
_-
-_
_ -_-
-----
.-
- -_
- -_
-_
-
1949
1950
1951
1952
18, 142
18, 168
16, 838
16,095
15, 436
9,278
10, 016
9,771
9, 571
9,292
8, 864
8, 152
7, 067
6,524
6,144
6, 275
5, 721
5, 083
4,449
4,190
2, 589
2,431
1,984
2, 075
1,954
1,072
1,025
1,013
1,071
1,108
875
830
821
877
900
197
195
192
194
208
101
92
99
96
97
96
103
93
98
111
17, 070
17, 143
15, 825
15, 024
14, 328
8,403
9, 186
8, 950
8, 694
8,392
8, 667
7, 957
6, 875
6,330
5, 936
6,174
5, 629
4, 984
4,353
4, 093
2,493
2, 328
1,891
1, 977
1,843
15,109
14, 992
14, 807
14,413
13, 488
8, 580
8,392
7,944
7,993
8, 004
6,529
6,600
6,863
6,420
5,484
4,538
4, 566
4, 648
4,283
3, 534
1,991
2,034
2,215
2, 137
1,950
1,127
1, 168
1,222
1,312
1,345
909
932
967
1,045
1,055
218
236
255
267
290
96
97
96
88
88
122
139
159
179
202
13, 982
13, 824
13, 585
13, 101
12, 143
7,671
7, 460
6,977
6,948
6,949
6,311
6, 364
6, 608
6, 153
5, 194
4,442
4, 469
4,552
4, 195
3,446
1, 869
1,895
2, 056
1, 958
1,748
13, 262
13, 390
14, 100
14, 682
14, 797
7,747
7,580
7, 631
7,498
7,314
5,515
5,810
6,469
7, 184
7,483
3, 676
3,780
4, 346
4. 323
4, 362
1,839
2, 030
2,123
2, 861
3,121
1,378
1,443
1,484
1,487
1,558
1, 062
1, 112
1,129
1,115
1,147
316
331
355
372
411
88
70
74
81
120
228
261
281
291
291
11,884
11,947
12,616
13, 195
13, 239
6,685
6,468
6,502
6,383
6,167
5, 199
5,479
6, 114
6,812
7, 072
3,588
3,710
4,272
4, 242
4,242
1,611
1,769
1,842
2,570
2,830
14, 857
14. 231
15, 754
19, 275
21,052
7,186
6, 999
7,092
8, 902
10, 322
7,671
7,232
8, 662
10, 373
10, 730
4,459
4, 264
5, 256
6,247
6, 551
3,212
2, 968
3, 406
4, 126
4,179
1,510
1, 485
807
1,499
1, 496
1, 119
1,099
467
1,172
1, 205
391
386
340
327
291
116
124
111
126
121
275
262
229
201
170
13, 347
12, 746
14. 947
17, 776
19, 556
6,067
5,900
6, 625
7,730
9,117
7,280
6, 846
8,322
10, 046
10, 439
4,343
4,140
5,145
6,121
6,430
2.937
2, 706
3,177
3,925
4, 009
21, 523
24, 866
27, 761
30, 121
11, 186
12, 007
12, 934
14, 046
10, 337
12, 859
14, 827
16, 075
6, 237
7, 860
9,195
10, 195
4, 100
4,999
5, 632
5,880
1, 486
1, 557
1, 615
1,648
1,224
1,266
1,312
1,352
262
291
303
296
107
127
126
126
155
164
177
170
20, 037
23, 309
26, 146
28, 473
9,962
10, 741
11, 622
12, 694
10. 075
12, 568
14, 524
15, 779
6,130
7, 733
9, 069
10, 069
3, 945
4, 835
5, 455
5,710
•
Net Corporate Debt
88, 901
89 257
83, 498
80, 015
76, 937
47, 347
51, 070
50, 303
49, 191
47, 869
41, 554
38, 187
33, 195
30, 824
29, 068
29, 161
26, 558
23, 671
20, 840
19, 637
12, 393
11, 629
9, 524
9, 984
9, 431
15, 005
15, 325
15, 345
15. 348
15, 349
13, 505
13, 886
13, 961
13, 975
13, 898
1,500
1,439
1,384
1,373
1,451
624
563
607
590
593
876
876
111
783
858
73, 896
73. 932
68, 153
64, 667
61, 588
33, 842
37, 184
36, 342
35, 216
33, 971
40, 054
36, 748
31,811
29, 451
27, 617
28, 537
25, 995
23, 064
20, 250
19, 044
11, 517
10, 753
8,747
9, 201
8,573
75, 504
74, 793
76, 063
75, 803
73, 291
44,611
43, 562
42, 519
43, 513
44, 842
30, 893
31, 231
33, 544
32, 290
28, 449
21, 271
21, 386
22, 440
21,290
18, 093
9, 622
9,845
11, 104
11,000
10, 356
15, 283
15, 229
15, 444
15, 323
15, 432
13, 773
13, 608
13, 622
13, 463
13, 440
1,510
1,621
1,822
1, 860
1, 992
589
595
587
544
541
921
1,026
1, 235
1, 316
1,451
60, 221
59, 564
60, 619
60, 480
57, 859
30, 838
29, 954
28, 897
30, 050
31, 402
29, 383
29, 610
31, 722
30, 430
26, 457
20, 682
20, 791
21, 853
20, 746
17, 552
8, 701
8,819
9, 869
9, 684
8,905
1939
1940
1941
1942
1943
73, 545
75, 576
83, 443
91, 649
95, 519
44, 366
43, 653
43, 614
42, 667
41, 040
29, ] 79
31,923
39, 829
48, 982
54, 479
18, 491
18, 937
21,810
21, 709
21, 956
10, 688
12, 986
18,019
27, 273
32, 523
15, 586
15, 727
15, 824
16, 197
16, 573
13,413
13, 432
13, 259
12, 868
12, 244
2,173
2, 295
2,565
3,329
4,329
545
430
455
503
748
1, 628
1, 865
2,110
2,826
3,581
57, 959
59, 849
67, 619
75, 452
78, 946
30, 953
30, 221
30, 355
29, 799
28, 796
27, 006
29, 628
37, 264
45, 653
50, 150
17, 946
18, 507
21, 355
21, 206
21, 208
9,060
11,121
15, 909
24, 447
28, 942
1944
1945
1946
1947
1948
94, 129
85, 292
93 538
108, 882
117, 950
39, 832
38, 322
41,343
46, 086
52, 486
54, 297
46, 970
52, 195
62, 796
65, 464
22, 439
21, 454
26,411
31,429
32, 900
31, 858
25, 516
25, 784
31, 367
32, 564
15,711
13, 926
12, 907
12,674
12, 499
11,506
10, 775
10,410
9,997
9,919
4,205
3,151
2.497
2,677
2,580
723
757
688
778
751
3,482
2,394
1,809
1,899
1,829
78, 418
71, 366
80, 631
96, 208
105, 451
28, 326
27, 547
30, 933
36, 089
42, 567
50, 092
43, 819
49, 698
60,119
62, 884
21,716
20, 697
25, 723
30, 651
32, 149
28, 376
23, 122
23, 975
29, 468
30, 735
117,801
139, 598
158, 795
167, 437
56, 534
60, 146
64, 607
69, 851
61, 267
79, 452
94, 188
97. 586
31, 304
39, 447
46, 121
51, 127
29, 963
40, 005
48, 067
46, 459
12, 224
12, 723
13, 125
13, 363
10, 020
9,998
10, 342
10, 583
2,204
2, 725
2,783
2,780
662
788
782
782
1,542
1,937
2,001
1,998
105, 577
126, 875
145, 670
154, 074
46, 514
50, 148
54, 265
59, 268
59, 063
76, 727
91, 405
94, 806
30, 642
38, 659
45, 339
50, 345
28, 421
38, 068
46, 066
44, 461
1929
1930
1931
1932
1933
1934
1935
1936
1937
1938
1949
1950
1951
1952
_
_—
.-- .
--.
-
1. Long-term debt is de ined as having an original maturity of 1 year or more from date
of issue; short-term debt a ; having an original maturity of less than 1 year.
267170°—53
Source: U. S. Treasury Department, Bureau of Internal Revenue; Interstate Commerce
Commission; U. S. Department of Commerce, Office of Business Economics.
SURVEY OF CURRENT BUSINESS
18
additional factor in lowering the rate of corporate debt
growth.
The Federal Government continued to encourage defenseconnected investment in 1952 through accelerated amortization for tax purposes and through the guarantee of loans
for working capital purposes by government procurement
agencies.
A substantial portion of the long-term debt addition of $5
billion was in the form of bonded indebtedness. Over $7K
billion in bonds to raise new capital and to refinance existing
debt were offered in 1952—substantially above offerings in
1951 and the largest on record. Manufacturing corporations, marketing 50 percent more than in 1951, accounted for
about half of the total. Transportation offerings were
doubled and other industry flotations were also increased.
Total short-term corporate debt, composed of notes and
accounts payable and "other" liabilities, increased $3%
billion in 1952. Notes and accounts payable advanced 11
percent during the year, as compared with 17 percent in 1951
and 26 percent in 1950. The decline in additions to such
debt largely reflected inventory adjustments and consequent
changes in borrowing from commercial banks. Eeduced
Federal income tax liabilities were the primary factor in
shrinking "other" corporate liabilities in 1952.
Corporate financial position
Although corporate debt has increased sharply over the
past several years, the financial position of corporations in
the aggregate remains relatively favorable. Liquidity indexes
such as the ratio of cash and U. S. Government securities to
current liabilities declined in 1950, 1951, and 1952, but
remained above prewar levels. The total of retained profits
and depreciation charges—the major internal sources of
funds—was higher in 1952 than in any other year except
1948 and 1950. The decline in retained profits during 1952
was more than equaled, for corporations as a whole, by a
large increase in depreciation charges reflecting the amortiza-
September 1953
tion of defense facilities at higher than normal rates as well
as an expanded depreciation base.
Expansion in nonfarm mortgage debt
Nonfarm mortgage debt owed by noncorporate borrowers
rose $7K billion during 1952. This advance was somewhat
less than the increases of 1950 and 1951. As in those two
years, approximately four-fifths of the rise pertained to
mortgages on 1-4 family homes, which continued under
regulation during most of 1952.
The present volume of 1-4 family nonfarm housing debt
($58 billion at the end of 1952) reflects a postwar wave of
construction and rise in real estate values stemming from the
large backlog of housing demand built up during the depression and war years and the favorable income and asset
position of the public. Eeady availability of credit has also
been a factor during much of the postwar period. These
and other elements are analyzed in "Markets after the
Defense Expansion," pp. 46-49.
The housing boom resulted in a much more rapid relative
rise in 1-4 family residential mortgage debt than in personal
income after taxes. Yet the present relation of debt to income is only moderately in excess of the ratio during the more
prosperous prewar years. In terms of debt servicing, current interest and repayment requirements are also moderately higher in relation to income than in the immediate
prewar years.
All classes of lenders increased their holdings of 1-4 family
mortgages during 1952. Savings and loan associations recorded the largest expansion, both in dollar amount and
percentagewise, and replaced life insurance companies as the
principal source of additional funds for this purpose. Conventional mortgages held by life insurance companies were
increased by the same amount as in 1951; VA- and FHAguaranteed mortgages, however, were increased by a considerably smaller amount.
Borrowings on multifamily residential and commercial
properties advanced by $2 billion—somewhat less than in
1950 and 1951. As in prior years, life insurnace carriers
Table 6.—Nonfarm Mortgage Debt by Borrowing and Lending Groups, by Type of Property, End of Calendar Year, 1929-52
[Millions of dollars]
Residential and commercial
End of year
Total
Corporate Noncorporate
borrowborrowers 2
ers
1-4 family residential
Total
Savings
and loan
associations
Life insurance
carriers
Mutual
savings
banks
Commercial
banks
Multifamily residential and commercial
HOLC
FNMA
Individuals and
others
Total
Savings
and loan
associations
Life insurance
carriers
Mutual
savings
banks
Commercial
banks
17, 939
18, 835
18, 407
17, 707
15, 114
325
320
294
257
222
3, 589
3,809
3,914
3,756
3,469
3,491
3,557
3,610
3,461
3, 338
,582
,485
,220
,308
,314
8,952
9,664
9,369
8,925
6,771
Individuals and
others
1929
1930
1931
1Q32
1933
36. 851
37, 726
36, 511
34, 362
30, 466
5,650
5,706
5,615
5,341
4,172
31, 201
32, 020
30, 896
29, 021
26, 294
18,912
18, 891
18, 104
16, 655
15, 352
6,182
6,082
5,596
4,891
4,215
1,626
1,732
1, 775
1,724
1,599
2,286
2,341
2,436
2,446
2,354
2,207
2,199
2,085
1,887
1,707
132
6,611
6,537
6,212
5,707
5, 345
1934
1935
1936
1937 1938
29, 486
28, 415
28, 046
27, 995
28, 218
3,972
3,687
3,658
3,664
3,757
25, 514
24, 728
24, 388
24, 331
24, 461
15, 630
15,437
15,385
15, 518
15, 765
3,525
3,127
3,122
3,291
3,433
1,379
1,281
1, 245
1,246
1, 320
2,190
2,089
2,082
2,111
2,119
1,450
1,541
1, 634
1, 786
1,910
2, 379
2,897
2,763
2,398
2, 169
80
4,707
4,502
4,539
4,686
4,734
13, 856
12, 978
12, 661
12, 477
12, 453
185
166
115
129
122
3,232
3,003
2,930
3,081
3,236
3,152
2,990
2,819
2,755
2,684
,520
,413
,402
,446
.535
5,767
5,406
5,395
5,066
4,876
1939
1940
1941
1942
1943-
28, 903
29, 986
31, 250
30, 771
29, 906
3,892
3,955
4,064
3,952
3,748
25,011
26, 031
27, 186
26, 819
26, 158
16, 337
17, 346
18, 358
18, 226
17, 835
3,616
3,919
4,349
4,349
4,355
1,490
1, 758
1,976
2,255
2,410
2,128
2,162
2,189
2,128
2,033
2,096
2,363
2,672
2, 752
2,706
2,038
1,956
1,777
1,567
1, 338
144
178
203
206
60
4,825
5,010
5,192
4,969
4, 933
12, 566
12, 640
12, 892
12, 545
12, 071
190
206
229
234
229
3,304
3,315
3,553
3,575
3,463
2,695
2,685
2,613
2,494
2,383
,601
,634
,668
,504
,352
4,776
4,800
4,829
4,738
4,644
1944_._
1945
1946
1947
1948
29, 744
30, 792
36, 879
43, 853
50, 904
3,688
3,825
4,423
5,121
5,837
26, 056
26, 967
32, 456
38, 732
45, 067
17, 947
18, 543
23, 059
28, 161
33, 261
4,617
5,156
6,840
8,475
9,841
2,458
2,258
2,570
3, 459
4,925
1,937
1, 894
2, 033
2,283
2,835
2,703
2,875
4,576
6,303
7,396
1,091
852
636
486
369
50
7
6
4
198
5,091
5,501
6,398
7,151
7,697
11, 797
12, 249
13, 820
15, 692
17, 643
183
220
301
381
464
3,428
3,602
3,790
4,321
4,918
2,361
2,306
2,399
2, 545
2, 938
,263
,376
1,957
2, 320
2,623
4,562
4,745
5,373
6,125
6,700
1949
1950
1951
1952 (P)
57, 077
66, 733
75, 555
83,740
6,508
7,379
8,197
8,961
50, 569
59, 354
67, 358
74, 779
37, 496
45, 072
51, 872
58, 155
11,117
13, 104
14, 801
17, 590
5,970
8, 392
10, 814
11, 800
3, 364
4,312
5, 331
6,180
7,956
9,481
10, 275
11, 250
231
10
806
1,328
1,818
2,210
8,052
8, 445
8, 833
9,125
19, 581
21, 661
23, 683
25, 585
499
558
719
854
5,798
6,383
6,973
7,746
3,304
3,906
4,538
5,126
2,780
3, 214
3, 453
3, 559
7,200
7,600
8,000
8,300
_ _
p Preliminary.
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 nonfmancial corporations are also excluded.
2. The corporate mortgage debt total is included in the total corporate long-term debt
outstanding, table 5.
Sources: Federal Savings and Loan Insurance Corporation; U. S. Department of Commerce, Office of Business Economics.
SURVEY OF CURRENT BUSINESS
September 1953
19
Table 7.—Individual and Noncorporate Debt, End of Calendar Year, 1929-52
[Millions of dollars]
Nonfarm
Farm
Farm and
nonfarm
total
End of year
1929
1930
1931
1932
1933
1934
1935
1936
1937
1938
1939
1940
1941
1942
1943
1944
1945
1946
1947
1948
1949
1950
1951
1952
.. _ _
.
. _ -_
_
_
__.
_
.
_
_ _
_ .
..
_-
-
Nonfarm mortgage
promort- Farm
Total farm Farm
duction
gage i
loans 2
Total nonfarm
Total
1-4 family
Other
Multifamily and
commercial
Total
Commercial (nonfarm)
Financial 3
Consumer
72, 271
71, 131
64, 365
56, 685
50, 594
12, 218
11, 779
11,067
10, 102
9,086
9,631
9,398
9,094
8,466
7,685
2,587
2,381
1, 973
1,636
1,401
60, 053
59, 352
53, 298
46, 583
41, 508
31, 201
32, 020
30, 896
29, 021
26, 294
17, 966
17, 946
17, 199
15, 822
14, 584
13, 235
14, 074
13, 697
13, 199
11, 710
28, 852
27, 332
22, 402
17, 562
15, 214
n
n
n
n
n
a.
a.
a.
a.
a.
n. a.
n. a.
n. a.
n. a.
n. a.
6,444
5,767
4,760
3,567
3, 482
49, 551
49, 385
50, 265
50, 894
49, 844
8,898
8,955
8,583
8,598
8,972
7,584
•7, 423
7,154
6,955
6,779
1,314
1, 532
1,429
1,643
2,193
40,653
40, 430
41, 682
42, 296
40, 872
25, 514
24, 728
24, 388
24, 331
24, 461
14, 848
14, 665
14,616
14, 742
14, 977
10, 666
10, 063
9,772
9,589
9,484
15, 139
15, 702
17, 294
17,965
16, 411
n
n
n
n
n
a.
a.
a.
a.
a.
n. a.
n. a.
n. a.
n. a.
n. a.
3,904
4,911
6, 135
6, 689
6,338
50, 844
52, 992
55, 608
49, 876
48, 754
8,834
9,107
9,240
8,926
8,211
6,586
6,494
6,376
5,956
5,396
2,248
2,613
2,864
2,970
2,815
42, 010
43, 885
46, 368
40, 950
. 40, 543
25, Oil
26, 031
27, 186
26, 819
26, 158
15, 520
16, 479
17, 440
17,315
16, 943
9,491
9, 552
9,746
9,504
9,215
16, 999
17, 854
19, 182
14, 131
14, 385
3,769
4,275
5,020
4,107
3,767
6,008
5,241
4,990
4,041
5,717
7,222
8, 338
9, 172
5, 983
. 4, 901
50, 724
54, 731
60, 726
71, 400
83,561
7,745
7,250
7,652
8,610
10, 793
4,941
4,760
4,897
5,064
5,288
2,804
2,490
2,755
3,546
5,505
42, 979
47, 481
53, 074
62, 790
72, 768
26, 056
26, 967
32, 456
38, 732
45, 067
17, 050
17,616
21, 906
26, 753
31, 598
9,006
9,351
10, 550
11,979
13, 469
16, 923
20, 514
20, 618
24, 058
27, 701
3,707
4,437
6,273
7,603
8,087
8,105
10, 412
5,961
4,885
5,203
5, 111
5,665
8,384
11, 570
14,411
93, 378
109, 205
120, 388
135, 268
12, 028
12, 220
13, 547
15, 104
5,579
6,071
6,588
7,140
6,449
6,149
6,959
7,964
81,350
96, 985
106, 841
120, 164
50, 569
59, 354
67, 358
74, 779
35, 621
42, 818
49, 278
55, 247
14, 948
16, 536
18, 080
19, 532
30, 781
37, 631
39, 483
45, 385
7,632
9,882
11, 291
12,118
6,045
6,936
6,724
7,562
17, 104
20, 813
21, 468
25, 705
1. Includes regular mortgages, purchase-money mortgages, and sales contracts.
2. Includes agricultural loans to farmers and farmer's cooperatives by institutional lenders;
farmer's financial and consumer debt is included under the "nonfarm" categories.
3. Comprises debt owed to banks for purchasing or carryinp securities, customer's debt to
brokers, and debt owed to life insurance companies by policy holders.
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.
were the principal source of such funds, followed by mutual
savings banks.
These considerations apply to the present high-income situation. A reduction in aggregate income would increase the
burden of the individual debt, particularly where loan agreements call for regular amortization payments, and reinforce
subsequent adjustments in consumer purchasing.
Recent trends in individual indebtedness were more thoroughly evaluated in a previous issue of the SURVEY (April
1953, page 12).
Sharp rise in consumer credit
Subsequent to the removal of controls in May 1952 and
with the increased availability of goods usually bought on
credit, consumer credit rose by more than one-fifth during
the last eight months of the year. A similar increase in 1950
had been followed by a period of relative stability which
lasted through the first four months of 1952. The rapid expansion of such debt has continued in 1953. Nearly all of
the recent advance in consumer credit was due to installment
loans and installment sales of durable goods.
The installment credit expansion in 1952 may be attributed
to an increased use of credit under more favorable terms,
associated toward the end of the year with the improved
availability of hard goods. Although consumer purchases of
new cars declined slightly from 1951 to 1952, last year ended
on a strong upward note which was carried into 1953. Automobile credit rose nearly one-third in the May-December
period, and has maintained a comparable rate of rise so far
in 1953.
Similar to the mortgage credit advance, the postwar rise
in short-term consumer indebtedness is a product of prior
shortages and credit controls, a long-term uptrend in the
use of such credit, and the growth of income. Consumer
credit is more responsive than mortgage debt to short-run
changes in business conditions because of the more rapid
turnover of such credit.
The sum of mortgage debt on 1-4 family nonfarm residences and consumer credit may be regarded as roughly
equivalent to "individual's" debt. The current size of this
debt does not appear to be unduly great, given the present
income level and liquidity position of individuals, the longrun growth of such credit, and the fact that lower interest
rates have reduced the burden of a given debt volume by
comparison with earlier prosperous periods.
Farm debt expansion continues
Total farm debt rose 11% percent during 1952 to a total of
$15 billion at the end of the year. Two-thirds of the advance
represented farm production loans and one-third farm mortgage debt.
Farm production loans comprise credit extended to farmers
and farm cooperatives by commercial banks and Federally
sponsored farm agencies, and include price support loans
made or guaranteed by the Commodity Credit Corporation.
The decline in farm prices, particularly of wheat, cotton, and
corn, in the latter half of 1952, necessitated a sharp rise in
support loans made or guaranteed by the Corporation.
These are chiefly "nonrecourse" loans, the borrowers' liability
being limited to the crop inventories securing them. Excluding price support credit, farm production credit expanded
only $300 million in 1952, less than a third of the previous
year's advance.
Farm mortgage debt rose one-half billion dollars in 1952—
the same as in 1950 and 1951. At the close of the year such
debt amounted to $7.1 billion—8 percent above the total a
year earlier. The dollar volume of new farm mortgages recorded approximated the 1951 level: the average size of new
farm mortgages increased from $5,350 in 1951 to $5,630 in
1952 while the number of mortgages recorded receded 5 percent. Most of the dollar increase in new farm mortgage recordings occurred in the second half of 1952; during the
first six months recordings were slightly below the corresponding period of 1951.
(Continued on page 24)
by Judah E. Smith
Transportation in the
Balance of Payments
1 RANSPORTATION is one of the largest of the service
transactions in the United States balance of payments. In
1952, receipts from this source amounted to more than $1.5
billion and payments aggregated more than $1.1 billion—
equivalent in each case to one-tenth of the merchandise trade.
Ocean shipping, the largest item, accounts for the major
fluctuations in our net position.
Receipts from ocean shipping include freight on exports
carried by United States operated vessels and foreign port
expenditures here. Payments include freight on imports on
foreign vessels and United States port expenditures abroad.
Freight on exports carried by foreign vessels does not enter
the United States balance of payments—since such payments
are directly or indirectly for foreign account. Freight on
United States imports carried by United States vessels is a
domestic rather than an international transaction.
Another important item contributing to our earnings is
freight paid to us on shipments between foreign countries.
But fare payments by United States tourists to foreign
vessels far outweigh fare payments by foreign tourists to
United States vessels, so that foreign countries consistently
receive net payments from us for passenger service.
Export freight partly financed by aid
Data for the international shipping account of the United
States include the value of all shipping services rendered by
the United States to foreign countries, regardless of how these
services were financed. A part of the transportation furnished by the United States was paid by the United States
Government under the various aid programs and required no
actual payment. The amounts involved have varied widely
in recent years from $371 million in 1948 to $98 million in
1950. Last year's figure was $142 million.
A portion of aid-financed shipments was carried in cargo
space controlled by the Department of Defense. This is excluded from the following discussion which is limited to the
commercial aspects of the transportation account.
Net United States receipts from transportation in 1952
amounted to about $400 million, and were about $200
million less than in the preceding year. Moreover, the factors contributing to this downward trend continued in existence, reducing the total to about $170 million (at an annual
rate) during the first half of 1953.
This decline represents a resumption of a trend which was
evident between 1947 and 1950, but was temporarily interrupted by the outbreak of the hostilities in Korea.
Several factors account for the declining, but still relatively high, net earnings from shipping.
Table 2 indicates that the dry cargo tonnage carried by
American controlled ships declined gradually from 1947 to
1950 and again from the first quarter of 1952 to the first
quarter of 1953, apparently reaching a postwar low at that
time. The decline since 1951 was most prominent in the
NOTE.—MR. SMITH IS A MEMBER OF THE BALANCE OF PAYMENTS
DIVISION, OFFICE OF BUSINESS ECONOMICS. The data presented in this article
are revisions based largely upon new questionnaires directed to foreign shipping companies
engaged in United States trade.
20
carriage of coal and grain (which in that year as well as in
the early postwar period had for special reasons been unusually high) but it also affected the carriage of other dry
U. S. net receipts on ocean shipping
transactions have declined since
the end of the war
FREIGHT
EARNINGS
PORT
EXPENDITURES
CHARTER
HIRE
PASSENGER
FARES
MILLIONS OF DOLLARS
400
800
1200
Receipts
1946
Payments
1947
1948
1949
m1
I960
1951
1952
1953*
* PRELIMINARY, FIRST HALF TOTALS, AT ANNUAL RATES
U. S. DEPARTMENT OF COMMERCE. OFFICE OF BUSINESS ECONOMICS
cargo. In part this development reflects the reduction in
all United States exports that during the same period resulted from better supply conditions abroad, particularly
for fuels and agricultural products. Also, tightened exchange
restrictions were partly responsible.
September 1953
SURVEY OF CURRENT BUSINESS
However, certain other conditions helped to reduce the
income from export freight even more than the total export
tonnage was lowered.
The decline in requirements for shipping space brought
down freight rates for bulk cargo on tramp steamers to such
an extent that the relatively high cost American operators
had to leave the field almost entirely to foreigners. Freight
on coal for a typical voyage from United States east coast
ports to Rotterdam declined from $14 per ton in March 1951
to less than $5 at the end of 1952. Only the provision that
50 percent of aid-financed cargo had to be shipped in United
States operated vessels kept some bulk shipments—mainly
grain—reserved for United States ships, at rates approximately double those in the free market.
The decline in freight earnings by United States operators
from $657 million in 1951 to $524 million in 1952 was more
than accounted for by the decline in earnings from coal and
grain. Likewise over 55 percent of the decline in earnings
from 1952 to the first half of 1953 (at annual rates) was due
to the same factors.
21
Foreign-operated fleets include, however, the ships
operated by subsidiaries of United States oil companies
under the Panamanian or other foreign flags. Net earnings
from the operation of these ships accrue, of course, to the
American parent companies, and appear in the balance of
payments as income on investments.
Higher rates on exports favor U. S. balance
While the rising share of the volume of United States trade
carried by foreign ships was the outstanding factor in reducing the foreign dollar deficit on transportation, the difference
The share of U. S. trade carried
by foreign vessels continues to rise
OUTBOUND DRY CARGO
30
Foreign fleets carry larger volume
In contrast to the rate competition for the carriage of bulk
cargo, liner rates were relatively fixed by carrier conferences.
Thus, in spite of a rising surplus in shipping space, these
rates remained at the higher levels adopted at the end of
1951. In fact, the share of United States vessels in the
carriage of other dry cargo remained relatively stable between 1950 and 1952. However, more recent data indicate
the share is again declining, resuming a trend started soon
after the end of the war.
This decline may be ascribed to (a) the desire of foreign
countries to limit dollar expenditures by using foreign ships
to import goods, and (b) to the growth of foreign fleets. By
1952, as a result of new construction and purchases of over
1,000 ships from the United States, foreign dry cargo fleets
had risen to 40 million gross tons—from 29 million tons after
the war.
The fact that foreign fleets have gradually included an
increasing proportion of postwar ships built to provide faster
and more frequent service, is another important factor in the
rapid rise of their cargo tonnage.
Import freight carried on United States dry cargo vessels
was quite stable in the postwar period except for a very
minor decline from 1951 to 1952. The overall rise in total
tonnage imported therefore accrued mostly to foreign fleets,
thus adding to their dollar earnings.
The relative stability in the activity of United States
operated ships was due in part to an increase in the movement of iron ore and other minerals by company-owned
fleets, with a corresponding decline in the carriage of other
imports, which was taken over by foreign fleets. Since a
large part of our imports is billed c. i. f., with shipping
expenses paid first by the foreign shipper, who is then reimbursed by the American importer, the choice of the nationality of the shipping line frequently depends upon the foreign
exporter. The desire to save dollar exchange would favor
the foreign lines, even if shipping rates were the same for
foreign and domestic lines. The rising availability of foreign
shipping space further aided in making that choice increasingly customary.
Considerations similar to those underlying the shift of dry
cargo export trade from domestic to foreign vessels also
serve to explain the rising share in tankers' export cargo
carried by foreign-operated vessels. While the activity of
the United States operated fleet both in export and import
trade remained relatively stable since 1949, foreign-operated
fleets carried more tonnage in both directions.
COAL
20
10
0
20
GRAIN
<n
z
10
z
o
10
1946
47
48
49
51
52
53*
51
52
53*
50
INBOUND DRY CARGO
30
20
10
1946
47
48
49
50
* PRELIMINARY. FIRST QUARTER TOTALS, AT ANNUAL RATES
U. S. DEPARTMENT OF COMMERCE. OFFICE OF BUSINESS ECONOMICS
in the composition of the trade carried by United States
vessels abroad and by foreign vessels to the United States
apparently favored the United States balance of payments.
Omitting coal and grain, United States-controlled ships
earned on outbound dry cargo approximately $30 per ton in
1951 and $35 per ton in 1952. Earnings of foreign-operated
ships on outbound dry cargo (excluding coal and grain) were
approximately the same.
On inbound dry cargo the average rate per ton for United
States ships appeared to have been about $13 in 1951 and
SUEVEY OF CURRENT BUSINESS
22
$14.50 in 1952; foreign-operated ships apparently earned $14
and $16 during the same years. The difference in the rates
on inbound and outbound cargo is due in large part to the
fact that outbound cargo consists largely of manufactured
goods requiring relatively more space—as well as higher
handling charges and consequently a higher rate per weight
ton—than do the raw materials and semimanufactured goods
which comprise a larger portion of imports.
Since balance of payments receipts reflect the outbound
freight on United States controlled vessels, and payments
indicate the inbound freight on foreign controlled vessels,
it is evident that in order to balance receipts and payments
on freight, foreign ships would have had to carry to the
United States about 2.1 tons in 1951 and 2.2 tons in 1952
for every single ton carried by United States ships to foreign
countries.
A rising share of manufactures in exports, and of raw
materials in imports, would raise that ratio further and
would in part offset for the balance of payments the effects
of an increasing participation by foreign ships in total United
States trade.
Table 1.—International Transportation, 1946-53
[Millions of dollars]
1946
1947
1948
1949
1951
1950
1953
(Preliminary;
1952 fjrst half
at annual
rates)
Earnings by U. S. fleet maintained
While the balance of international payments on ocean
freight declined from a United States credit of $273 million
in 1951 to a credit of about $100 million in 1952, that drop
does not provide an appropriate measure of the change in
total earnings of the United States merchant fleet from both
United States exports and imports. Even though these
earnings also dropped during the same period—by roughly
$110 million or about 10 percent—they were considerably
higher than in 1948, 1949, or 1950. (See table 4.)
Receipts
Ocean shipping
1 277 1 597 1 181 1 085
455
Export freight earnings
531
893
961
Coal
52
257
83
184
Grain
44
38
82
67
353
Other dry cargo. .
389
594
608
Tanker _
12
29
15
33
Military -controlled export
freight earnings
192
93
197
223
Freight earnings on shipments
between foreign countries. . .
100
79
112
100
Passenger fares
21
39
35
Port expenditures - _
162
268
291
281
Charter hire
22
12
26
19
Other transportation
164
145
154
106
Total receipts
883 1 353 1 286
657
524
347
1 129
73
142
57
23
358
373
311
28
21
12
1, 065
349
8
24
304
13
51
44
72
87
110
26
313
36
176
201
18
411
22
211
175
22
462
31
228
109
23
473
24
222
1, 383 1,742 1,335 1,249 1,059 1, 564 1,514
1,287
Port expenses offset foreign earnings
The rising volume of United States trade carried by foreign
ships resulted in larger port expenditures in the United States,
while expenditures by United States ships in foreign ports
remained relatively stable. In fact, foreign port expenditures in the United States during both 1951 and 1952 required more than 80 percent of foreign dollar earnings from
carrying freight to the United States and from passenger
fares paid by United States tourists.
During the earlier postwar years foreign port expenditures
exceeded foreign dollar earnings by a large margin. Compared to the total foreign freight revenue, both from exports
and imports, port expenditures here rose from about 30 percent in 1951 to over 36 percent in 1952. This increase
Payments
Ocean shipping
Import freight payments
Dry cargo
Tanker
Passenger fares
Port expenditures
Charter hire
Other transportation
349
115
109
6
17
186
31
110
456
141
133
8
47
231
37
127
501
193
175
18
63
198
47
145
549
214
191
23
90
177
68
152
643
295
255
40
121
138
89
175
787
384
279
105
102
183
118
186
911
428
318
110
133
190
160
204
918
452
360
92
162
142
162
198
Total payments
459
583
646
701
818
973 1 115
1, 116
Receipts balance— Ocean shipping.
928 1,141
680
536
240
566
375
147
Receipts balance— Transportation
account _
924 1,169
689
548
241
591
399
171
September 1953
Source: IT. S. Department of Commerce, Office of Business Economics.
Table 2.—United States Ocean-Borne Outbound Cargo, Privately-Controlled and Military-Controlled, 1946-53 1
[Shipping weight in millions of long tons]
1946
Total outbound dry cargo, privately controlled
United States privately controlled
Foreign controlled
Percent United States privately controlled
United States military controlled
Coal 2
United States privately controlled
Foreign controlled
Percent United States privately controlled
Grain 2
United States privately controlled
Foreign controlled _ _
_
Percent United States privately controlled
Other dry cargo 2
__
United States privately controlled
_
Foreign controlled
Percent United States privately controlled
Total outbound tanker cargo, privately controlled
United States privately controlled
Foreign controlled
.
_.
Percent United States privately controlled
United States military controlled
'
_
_
_
-
__
_
1953
(First quarter
at annual rates)
1952
41.7
17.6
24 1
42.2
n a
29.8
12.0
17 8
40.3
s 2.6
72.8
31.5
41.3
43.3
3 2.1
62.1
20.7
41.4
33.3
3 2.0
19 3
14. 7
4 6
76.2
42 0
23.5
18 5
55.9
19 1
11 5
2 2
.1
24 8
13.6
11. 1
41.9
18.2
26.6
12.8
37.4
2.1
4.5
30 5
11.4
19.1
37.4
6 1
7 2
6.4
2.8
3.6
2.5
4.9
7.2
15 4
13.6
4.5
8.1
7.3
13 9
2. 7
11.6
14.7
16.8
4.6
2.6
8.3
8.0
9.3
4.3
7.2
7 4
6.6
3.4
44.0
9.8
34.2
22.3
322
.8
6.2
2.0
75.4
63.9
43.7
33.8
37.5
52.6
10.5
24.5
26. 5
16.5
10.0
62.3
32.9
18.0
14.9
54.7
23.6
12.9
10.7
54.7
22.8
10.8
12.0
47.4
20.4
9 2
11.2
45.1
26.9
12.0
14.9
44.6
23.4
10.7
12 7
45.7
41.7
11.7
5. 1
7.5
3.0
4.5
6.4
2.9
3.5
11.1
10.9
11.6
40.0
4
n . a.
45.3
3 4
30 6
3
1.3
28 4
3
1.5
27 6
3 1.3
12.9
6.6
4.5
7.4
8.8
2.7
43.6
4
n. a.
34 9
4
n. a.
6. 1
30.7
*n. a.
1. Includes United States exports and outbound intransit shipments to all areas except
Great Lakes ports ot Canada but not shipments for the use of United States armed forces
abroad. United States privately controlled cargo includes shipments on commercially
operated United States-flag vessels, National Shipping Authority vessels and foreign flag
vessels chartered and operated by United States residents. It does not include United
States military-controlled cargo under special programs such as Civilian Supply, Mutual
Security, etc., shipped by the Department of the Army or the Department of the Navy on
United States-flag commercial vessels under charter arrangements or on Army or Navy
1951
49. 1
23.7
25 4
48.2
4.6
1.5
_ . _ ._
1950
82 1
46 1
36 0
56. 1
n a
51 9
35 8
16 1
68.9
.
1949
1948
1947
3.4
7.7
3.1
7.8
7.0
9.8
3.2
8.4
transports. Basic data have been compiled by the Bureau of the Census according to flag
01 carrier except in the case of intransit shipments. The data (including intransit shipments)
have been adjusted for differences between flag and control.
2. Does not include United States military-controlled cargoes.
3. Includes non-Department of Defense controlled "Special Category" exports on both
United States and foreign-flag vessels from July, 1950.
4. n. a. Not available.
SOURCE: United States Department of Commerce, Office of Business Economics.
SURVEY OF CURRENT BUSINESS
September 1953
resulted largely from an increase in foreign passenger vessel
expenditures, and higher costs of freight handling and ship
maintenance.
The high volume of foreign expenditures in this country
and the relatively low foreign expenses of United States
operators tend to maintain a net receipts balance in the
shipping account. In 1952, United States operators' foreign
expenses were only $190 million as against $390 million
(excluding passenger vessels) of foreign expenditures in this
country, although foreign operators handled less than onethird more tonnage than United States operators.
Among the factors that raise foreign vessel expenditures
in this country is the purchase of bunker fuel here—at an
advantage, because of the lower prices at which it can be
[Shipping weight in millions of long tons]
Year
Tanker vessels
United
United
Foreign- PerStates- Per- operated
States- Per- Foreign- PerTotal operated
cent vessels cent Total operated cent operated
vessels cent
vessels
vessels
1946
1947
1948
1949
19.4
25,3
29. 7
31.0
12.0
16.1
17.4
15.6
61.8
63.6
58.6
50.3
12.3
15.4
7.4
9.2
38.2
36.4
41.4
49.7
21.3
24.2
27.4
34.0
19.4
22.1
24.2
28.7
91.1
91.3
88.3
84.4
1.9
2.1
3.2
5.3
11.7
15.6
1950
1951
1952
19532 _
37.2
39.2
39.2
40.4
17.7
19.4
19.1
17.6
47.6
49.5
48.7
43.6
19.5
19.8
20.1
22.8
52.4
50.5
51.3
56.4
44.7
45.0
50.8
59.2
30.8
26.8
27.7
37.2
68.9
69.5
54.5
62.8
13.9
18.2
23.1
22.0
31.1
30.5
45.5
37.2
8.9
8.7
1. Data compiled by the Bureau of the Census by flag of vessel adjusted for United Stateschartered and -operated foreign flag vessels and for foreign-chartered and -operated United
States-flag vessels. Excludes small amount of imports originating in Great Lakes ports of
Canada.
2. First quarter at annual rates.
Source: U. S. Department of Commerce, Office of Business Economics.
Table 4.—Estimated Freight Earnings of United States-Controlled
and Foreign-Controlled Vessels in the Carriage of United States
Imports and Exports, 1946-52
[Millions of dollars]
Freight on United
States exports 1
Ocean freight
1946
Dry cargo
Tanker
1947
Dry cargo
Tanker
United
States
operators 2
Freight on United
States imports
United
Foreign
oper- Total States
operators
ators
United
Foreign
oper-3 Total States
operators
ators
Foreign
operators
893
443 1,336
264
115
379
1,157
558
860
33
385 1,245
91
58
201
63
109
6
310
69
1,061
96
494
64
961
808 1,769
367
141
508
1,328
949
278
89
133
8
411
97
1,210
118
871
78
531
507 1,038
324
193
518
855
700
516
15
449
58
965
73
203
121
175
18
378
140
719
136
624
76
455
420
875
269
214
483
724
634
443
12
405
15
848
27
194
75
191
23
385
98
637
87
596
38
347
334
681
313
295
608
660
629
Dry cargo
Tanker
335
12
321
13
656
25
225
88
255
40
480
128
560
100
576
53
657
888 1,545
390
384
774
1,047
1,272
Dry cargo .
Tanker
629
28
805 1,434
111
83
249
141
279
105
528
246
878
169
1,084
188
524
699 1,223
413
428
841
937
1,127
503
21
607 1,110
113
92
274
139
318
110
592
249
777
160
925
202
1949
Dry cargo .
Tanker
1950
1951
1952
Dry cargo
Tanker
1. Does not include freight on military-controlled export cargo.
2. Credits in balance of payments.
3. Debits in balance of payments.
Source: U. S. Department of Commerce, Office of Business Economics.
Table 5.—International Transportation, by Area, 1947 and 1950—52
[Millions of dollars]
Western
Europe
738 1,670
99
70
Dry cargo
Tanker...
Developments affecting other ocean shipping accounts in
the balance of payments (passenger fares, United States
receipts on shipments between foreign countries, and charter
hire) led to a change from net receipts of $20 million in
1951 to payments of $65 million in 1952. Most important
in this change was the rise in passenger fares paid to foreign
vessels. By increasing their passenger fleet and thus facilitating a greater volume of tourist traffic, fare receipts of
foreign operators from United States residents rose to $133
million by 1952—six times United States operators' receipts
from residents of foreign countries.
United States operators' earnings from the carriage of cargo
(principally petroleum) between foreign countries declined in
1952 by $26 million from the record amount of $201 million
the year before. The 1951 peak came about primarily as a
result of the closing of the Iran refineries, together with freight
rate increases in the tanker market. A further reduction is
indicated for 1953 since tanker freight rates have declined
below the levels prevailing at the time the Korean hostilities
started.
Total freight
earnings
932
29
1948
obtained as compared with the cost in many foreign ports
from which trade with the United States is conducted.
Another is the higher cost of stevedoring and other operating
costs in the United States. For many foreign vessels, e. g.,
the Latin American, the United States is the most economical
place for repairing vessels and purchasing equipment since
shipyard facilities are lacking in the home countries.
On the other hand, with the exception of stevedoring and
other unavoidable expenditures made at comparatively low
rates in foreign countries, nearly all United States vessels'
purchases of fuel, subsistence, supplies, equipment, repairs,
etc., are made in the United States. Also, discharging expenses on coal and grain cargoes are almost wholly for the
shipper's or importer's account and not for vessel account.
Tourist fares raise foreign earnings
Table 3.—United States Ocean-Borne Imports, 1946-53 1
Dry cargo vessels
23
IndependLatin
sterling All other All areas
Canada American ent
coun- countries
Republics areatries
1947
Receipts _
Ocean shipping
Other
1,003
960
43
70
30
40
264
221
43
51
45
6
354
341
13
1,742
1,597
Payments
Ocean shipping
Other
303
281
22
71
9
62
130
100
30
13
10
3
66
56
10
583
456
127
700
—1
134
38
288
1,159
Receipts
Ocean shipping
Other
498
444
54
68
26
42
264
204
60
43
37
6
186
172
14
1,059
883
176
Payments - ...
Ocean shipping
Other.- ._.
436
385
51
88
17
71
200
166
34
18
14
4
76
63
13
818
645
173
62
—20
64
25
110
241
Receipts .
Ocean shipping
Other.-
731
674
57
90
33
57
368
302
66
142
131
11
233
213
20
1,564
1,353
211
Payments
Ocean shipping
Other
502
446
56
91
18
73
256
216
40
22
18
4
103
90
13
974
788
186
229
—1
112
120
130
590
1952
Receipts
Ocean shipping
Other
664
603
61
119
56
63
375
302
73
104
93
11
252
232
20
1,514
1,286
228
Payments
Ocean shipping
Other
572
506
66
94
18
76
282
242
40
19
14
5
148
131
17
1,115
911
204
92
25
93
85
104
399
Net
1950
Net
_ _
1951
Net
Net
Source: U. S. Department of Commerce, Office of Business Economics.
145
SURVEY OF CURRENT BUSINESS
24
September 1953
Charter hire payments by United States operators for the
use of foreign vessels, mostly tankers, increased in 1952.
This reflected both the continued diversion of United States
flag tankers to military needs and enhanced requirements for
tankers for increased coastwise and import carriage.
earnings (including the earnings of tanker subsidiaries of
United States oil companies) and (c) charter hire payments
to companies registered under Latin American flags.
European deficit declines most
Other international transportation transactions have
yielded small net receipts surpluses ranging up to $25
million over the postwar years. The most noteworthy
of the items taken into the balance of payments are United
States airline receipts from fares paid by foreigners for
carriage from and to the United States and also for carriage
between foreign countries. These receipts amounted to
$83 million in 1952—about twice the payments by United
States residents to foreign airlines.
In addition, United States airlines' earnings for carrying
export freight and freight between foreign points in 1952
amounted to $24 million, as against less than $4 million of
foreign freight earnings on imports. Foreign expenses of
United States airlines largely offset net receipts on fares
and freight. They aggregated $87 million in 1952 while
foreign airlines' expenses in the United States amounted to
$32 million.
The decline in United States earnings on exports, particularly on coal and grain shipments, and the growth in foreign
earnings from United States imports, are apparent principally
in our transactions with Western Europe. In 1952, the net
receipts balance on shipping with Western Europe had declined to about $100 million, from $228 million in 1951. A
further reduction, of possibly $50 million, appears to be indicated for 1953 on the basis of the data available for the first
half of the year.
The trend of the receipts balances with Latin America
is also downward, with a decline registered in 1952 as compared with 1951 and a smaller balance projected for 1953.
This change stems principally from (a) the expansion of
the Latin American merchant fleets, (b) increased tanker
Transportation by air expanded
Changes in Public and Private Debt
(Continued from page 19)
Noncorporate nonfarm commercial debt rose 7 percent
during 1952, amounting to $12 billion at the close of the
year. The year's increase was about one-half of the 1951
rise, and about one-fourth of the advance in 1950. This
debt category represents bank commercial and industrial
loans to noncorporate business, overdrafts, and loans to
institutional borrowers. The lower rate of expansion in 1952
was primarily the reflection of reduced inventory requirements.
Loans to purchase or carry securities amounted to $4.8
billion on December 31, 1952, 17 percent above the $4.1
billion outstanding at the end of 1951. Last year's increase
was a reversal of the movement which occurred during 1951,
when security loans declined 9 percent. Margin requirements were raised from 50 percent to 75 percent in January
1951, and remained at 75 percent for the rest of that year
and throughout 1952.
A major portion of the increase during 1952 stemmed from
loans to purchase or carry an expanded volume of government
obligations. With respect to corporate securities, the value
of market transactions declined somewhat from 1951 to 1952,
although prices advanced.
The other component of financial debt as shown in table 7,
policy and collateral loans by insurance companies, reached
$2.7 billion at the end of 1952, five percent above such
loans at the close of 1951. Over the longer run, the growth
in policy loans has stemmed primarily from increased ownership of life insurance. The ratio of policy loans to reserves,
an index of funds available for such loans, was 4.3 percent
in 1952, approximately equal to that in other high-income,
postwar years.
Technical Notes
Gross debt is defined to include all classes of legal indebtedness except the following: (1) the deposit liability of banks
and the amount of bank notes in circulation; (2) the value
of outstanding policies and annuities of life insurance carriers; (3) the short-term debts among individuals and unincorporated nonfinancial business firms; and (4) the nominal
debt of corporations, such as bonds which are authorized
but unissued, or outstanding but reacquired.
Net debt for each of four sectors is defined as follows:
Federal Government net debt is that owed to all other
sectors of the economy except the Federal Government
proper and its corporations and agencies; State and local
government net debt is that owed to all other economic
entities except State and local governments; corporate net
debt is that owed to all other entities (including corporations)
except to other corporate members of an affiliated system;
and private noncorporate net (and gross) debt is the summation of all forms of legal noncorporate indebtedness except
that among individuals and unincorporated nonfinancial
business firms. Data showing adjustments for duplication
involved in passing from gross to net debt are given in detail
in tables 3, 4, and 5.
These concepts were more fully discussed in the October
1950 issue of the SURVEY.
The statistical bases for the present estimates are in
general similar to those used in the past. These have been
explained in articles in the July 1944 and September 1945
issues of the SURVEY and in the special bulletin "Indebtedness in the United States, 1929-41" (Department of Commerce Economic Series No. 21, U. S. Government Printing
Office, 1942). In the September 1946 and September 1947
articles modifications of former procedures were noted.
The present report contains the full set of estimates provided by the Office of Business Economics Debt Study, and
supersedes the tables published in earlier reports. Revisions
incorporated here include those made by the Bureau of
Agricultural Economics in the series for farm mortgage
debt, by the Federal Savings and Loan Insurance Corporation in its estimates of mortgage debt on 1-4 family homes,
and by the Federal Reserve Board in the series for consumer
credit outstanding. For the convenience of users of the
data, revised values for the major debt categories affected
have been extrapolated back to 1916, using appropriate links
(table 1).
Other revisions for recent years have resulted from the
incorporation of additional basic data.
In table 4, the distribution of local government debt by
types of civil divisions shown for 1950, 1951, and 1952 is not
strictly comparable with that shown for 1949 and earlier
years because of changes in the Bureau of the Census classification of these units, particularly cities and special districts. (See "Governmental Debt in 1951," Bureau of the
Census, December 1951.)
BUSINESS STATISTICS
THE STATISTICS here are a continuation of the data published in BUSINESS STATISTICS, the 1951 Statistical Supplement to the SURVEY
OF CURRENT BUSINESS. That volume (price $1.50) contains monthly data for the years 1947 to 1950, 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 1947. Series
added or revised since publication of the 1951 Supplement are indicated by an asterisk (*) and a dagger (t), 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.
Statistics originating in Government agencies are not copyrighted and may be reprinted freely.
vided through the courtesy of the compilers, and are subject to their copyrights.
Unless otherwise stated, statistics through
1950 and descriptive notes are shown in the
1951 Statistical Supplement to the Survey
Data from private sources are pro-
1952
July
August
September
1953
October
November
December
January
F
|ry"~
March
Af )ril
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, totaled- -do Business and professional cf
do
Farm
do.
Rental income of persons
do
Corporate profits and inventory valuation adjustment, total
bil. of dol
Corporate profits before tax, total
do
Corporate profits tax liability
-- -do_ _
Corporate profits after tax
do
In ventorv valuation adjustment
_ _ . d o - ..
Net interest
do
290.4
194 1
184 4
151 5
10. 6
22 4
9.6
51 5
26 1
15.2
10 2
301.4
201 3
191. 3
158 3
10.4
22 6
10.0
51.1
26 7
14.0
10.3
306.5
204 5
194.5
Ifil 2
208.0
198.0
164 5
10.0
50.8
27 0
13.4
10.4
10.0
49.7
27.0
12.3
10.4
37 7
37 0
19.4
17 5
.7
7.1
41 7
40. 3
21 2
19 1
1 4
7 4
43.6
44.4
24.1
20.3
-.8
7.6
-.6
7.7
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
National security 9
do
State and local .
.
do
345. 3
217 2
25. 1
118.7
73 3
52 3
23 1
24.9
4.2
2 o
361 1
224 4
28 2
121. 1
75 i
57 9
23 9
25 5
8 5
1 6
362 0
227.7
30 2
121.2
76 3
54 0
25.0
26 2
2.9
—2 1
372 4
230. 4
30 7
122. 1
77.6
61 . 0
25 3
26 9
8.8
—2 5
77.8
54 6
49.2
23 2
80.4
56 4
50 5
24 0
82.4
57.4
51.6
24 9
83. 5
58.9
53 5
24.6
Personal income, total. ___ __ __
do
Less: Personal tax and nontax payments- -do
Equals: Disposable personal income
- -do __
Personal saving§ .
.. _._
__-do . .
271 4
34 8
236. 6
19.4
278 3
35 3
24 '3 0
18.6
281.6
36.2
245.4
284. 4
36.7
247 7
17.2
17.7
PERSONAL INCOME, BY SOURCEf
Seasonally adjusted, at annual rates:
Total personal income
bil. of dol
Wage and salary disbursements, total
do
Commodity-producing industries
do
Distributive industries
do
Service industries
do
Government _ ___ ___ ___ .._
do
Wane and salary receipts, total
_do
Other labor income
do
Proprietors' and rental income.- -do
Personal interest income and dividends. _do
Transfer pay men ts
do
Less personal contributions for social insurance O
bil. of dol_ _
Total n on agricultural income. .
do
266. 3
180. 3
75.8
49. 5
22 2
32.8
176.7
4.7
51.5
20.9
12.7
271.3
185. 4
80. 6
49. 5
22.2
33.1
181.9
4.7
50. 6
21.0
13.4
276.4
188.4
83.8
49.4
22.3
32.9
184. 8
4.9
52.5
21.2
13.3
277. 3
190. 2
84.7
50. 0
22.4
33.1
186. 6
5.0
51.4
21.3
13.3
277. 2
191. 4
85. 6
50. 0
22. 5
33.3
187.8
5. 1
50.0
21.4
13.1
280. fi
192. 5
87.0
50. 1
22.6
32.8
188.7
5. 1
51.8
21.5
13.6
280.5
192.8
86,8
50. 2
22.7
33. 1
188. 8
5.1
51.6
21.6
13.5
281.0
194.6
88.0
50. 6
22.8
33.2
190.9
5. 1
50. 2
21.7
13.3
283. 6
196. 2
88.8
50. 9
23.2
33.3
192.4
5. 1
50. 7
21.9
13.7
282.7
196.6
88.8
51.0
23.4
33.4
192.8
5. 1
49.4
22.0
13.6
284.7
198.0
89.3
51.7
23.5
33. 5
194.2
5.1
50.0
22.1
13.5
' 286. 3
r 199. 5
r
89.8
«• 52.2
23.9
33. 6
r 195. 6
5.1
'•SO. 1
22.3
13.5
288.1
201.2
90.9
52.5
24.1
33. 7
197.3
5.1
50.0
22.5
13.5
3.8
3.8
3.9
3.9
3.8
3.9
4.1
3.9
4.0
4.0
4.0
'4.2
4.2
246.0
251.9
255.7
258. 0
259. 1
261. 6
261. 1
263. 3
265.4
265. 5
267.2
' 268. 8
270.5
NEW PLANT AND EQUIPMENT
EXPENDITURES^
r
All industries, quarterly total
„
mil. of dol
6,244
6,147
7, 265
i 7 225
Manufacturing-.. ._ ...
do
\
2,820
2,747
3, 367
r 3 280
Minins;
do
r 912
206
229
199
r
Railroads
_
__ _. -do.. :
289
357
310
358
Transportation, other than raiL.do
r 339
311
302
335
Public utilities
do
947
1.142
i
904 !
r 1, 148
1 (>75 !
Commercial and other
.
do
.
- - ...
1.680
1, 835
r 1, 887
T
l
Revised.
Estimates for July-December 1953 based on anticipate3d capital e xpenditures of business are shown on p. 4 of this issue of the SURVEY.
t Re vised series.
Quarterly estimates of national income and produ ct and qua rterly and monthly estimates of personal income have been revised beginning 1949; seepp. 28-32 of the July
1953 SURVEY for the data.
^Includes inventory valuation adjustment.
9 Gove rnment sales are not deducted.
§ Personal saving is excess of disposable income ov(}r persona] consumption expenditures shown as a component of gross national product above,
QDatal.hrough 1951 represent employee contributions only; thereafter, personal contributions of sclf-emp loyed persons are also included.
^Revised beginning 1939. Revisions for 1939 an d 1945-50 appear on pp. 20 and 21 of the August 1952 SURVEY; those for 1951, on p. 9 of the Marc h 1953 issui
s-1
SURVEY OF CUREENT BUSINESS
S-2
Unless otherwise stated, statistics through
1950 and descriptive notes are shown in the
1951 Statistical Supplement to the Survey
September 1953
1952
August
July
September
1953
October
November
Decem*
ber
January
February
March
April
May
June
July
r
2, 171
' 2, 145
r 725
1 420
P 2 495
p 2, 481
P 1 104
1 377
402
696
294
386
667
300
GENERAL BUSINESS INDICATORS—Continued
FARM INCOME AND MARKETINGS*
Cash receipts from farming, including Government
payments, totaL
. _. _
mil. ofdol
Farm marketings and CCO loans, total
do
Crops
-do _
Livestock and products, total
do
Dairv products
do__
IVEeat 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:
All commodities
1935-39=100..
Crops
do Livestock and products
do
2,711
' 2, 697
1,235
1,462
2,882
2,874
1,377
1,497
3,620
3,609
1,926
1,683
4,123
4,098
2,303
1,795
3,546
3,528
1,877
1,651
410
759
269
394
812
278
3,072
3, 056
1,537
1,519
370
984
316
365
1,088
330
346
911
384
338
826
349
407
436
385
434
487
394
544
681
443
618
814
472
532
663
435
154
165
145
161
182
145
196
237
164
220
274
179
2,742
2,717
1 331
1 386
1,889
1,872
669
1 203
2,025
2,000
618
1 382
1,934
1,897
522
1 375
1,979
1, 945
520
1 425
337
780
259
311
654
231
357
725
290
365
692
302
407
673
318
461
544
400
410
470
365
283
238
317
302
218
364
286
184
362
293
184
375
' 324
r 256
190
217
170
180
197
168
164
183
149
115
93
131
122
81
153
118
68
156
121
69
161
' 137
P 374
T> 390
374
'97
167
362
p 158
v 161
155
INDUSTRIAL PRODUCTION
Federal Reserve Index
194
218
232
233
235
233
232
236
240
240
240
' 241
v 235
do.
203
228
242
245
246
246
245
250
255
254
253
254
p 247
do
do
do
do
do
do__
do
do_ _
do
232
139
150
165
143
331
201
184
241
269
244
160
175
152
336
213
197
251
292
270
167
183
159
354
225
216
248
301
281
164
189
151
363
237
231
251
305
283
160
191
143
371
241
236
251
310
286
151
196
128
385
246
241
259
312
287
151
189
132
393
250
243
266
319
290
158
191
142
398
259
326
297
'326
322
291
T 321
293
259
243
301
Stone, clay, and glass products
Cement
Clay products
_Glass containers
Transportation equipment
__
Automobiles (incl parts)
do
do
do_ _
do
do.
do
216
236
160
255
287
162
231
261
169
272
300
175
232
263
167
267
353
247
235
267
173
262
371
265
226
252
167
245
376
272
214
231
165
210
392
282
209
209
155
227
391
283
216
212
157
248
403
297
227
224
161
271
412
308
Nondurable manufactures
Alcoholic beverages
_
_
Chemical products
Industrial chemicals
Leather and products
Leather tanning
__
Shoes
Manufactured food products
Dairy products
Meat packing
_ _
Processed fruits and vegetables
do
do.
do__
do. _.
do
do.
do
do. _
do
do. _
do
181
186
295
565
90
77
98
174
215
137
179
195
159
299
568
116
95
129
185
214
138
234
201
159
305
567
111
95
123
192
173
154
279
200
173
309
578
112
104
118
178
133
169
190
199
163
313
595
114
107
120
165
106
190
114
193
142
314
598
107
99
112
161
107
208
100
191
134
311
595
117
103
126
153
98
199
93
194
144
313
598
122
109
131
149
109
166
90
197
161
159
153
259
67
225
145
225
147
111
343
103
179
188
180
280
169
231
157
242
170
143
369
123
193
191
181
282
177
234
166
252
177
145
377
137
198
203
192
279
179
225
180
260
172
142
361
134
197
205
194
290
182
233
183
264
176
149
356
137
184
195
185
291
186
229
172
272
169
141
337
138
159
200
191
293
188
230
168
268
169
140
350
130
178
207
198
293
188
231
178
270
173
149
338
142
184
211
201
289
189
225
187
275
173
148
352
137
183
'141
1-151
190
81
161
161
61
102
194
164
180
180
88
144
203
178
166
167
95
93
203
164
170
177
87
135
202
131
163
176
71
125
207
84
159
172
60
116
204
84
158
170
60
109
205
87
157
168
52
107
204
90
163
167
47
113
201
134
Unadjusted, combined index
Manufactures
--
1935-39=100..
_
Durable manufactures
Iron and steel
_
Lumber and products
Furniture
-Lumber
Machinery
Non ferrous metals and products
Fabricating
Smelting and refining
Paper and products
Paper and pulp
Petroleum and coal products
Coke
Gasoline
Printing and publishing.
Rubber products
Textiles and products
Cotton consumption
Rayon deliveries _ ___
Wool textiles
__ _
Tobacco products
Minerals
Fuels
Anthracite
Bituminous coal
Crude petroleum
Metals
do
. _ _ do_
do
do_
do
do.
do
do
do
do.
do
do
do
._ ___ _ _ - do. _
do. __
do
do
- _. ... do.
1
57
*'76
' 245
r
162
'193
292
168
'189
157
402
263
248
299
146
'406
'318
'605
116
97
129
' 155
' 185
139
'400
'262
'251
290
230
249
261
238
259
160
291
'417
'314
'407
'304
196
165
322
198
164
320
619
111
'161
' 614
' 112
102
119
'151
'151
128
166
85
162
159
'90
210
200
116
156
202
154
' 100
'210
199
288
189
230
187
173
143
367
130
174
141
355
' 128
174
T
166
'168
313
279
155
177
143
385
252
239
284
236
259
P 232
P 159
276
267
269
' 407
' 304
P 407
P 302
199
174
P 193
' 323
' 627
103
95
108
162
225
' 156
181
P 325
P646
v 172
221
149
r HI
P 176
r 208
P 184
197
T 296
189
r 238
178
270
174
142
'288
' 169
v
v
P
P
P
P
P
•P
P
' 164
'103
'286
187
225
187
272
288
' 163
r 182
T 153
' 398
r 259
'249
r 284
P 298
P
P
P
P
135
176
T
173
66
243
161
270
156
113
361
' 367
r 172
188
P 170
P 169
66
113
r H6
' 199
160
' 206
T 171
P 207
P 171
r
57
103
193
215
228
230
234
235
236
240
243
241
240
r 240
P 233
do._.
202
225
237
242
245
247
249
254
258
255
253
253
P 245
Durable manufactures
do
Lumber and products
_ _
do
Lumber _ _ ._
do.
Nonferrous metals
do
Smelting and refining
_ _ :_do_ .
Stone, clay, and glass products
do
Cement. _
_ ___ _.
do
Clay products
_.
do
Glass containers
__do.
230
141
128
201
242
214
215
158
266
267
149
135
213
251
221
231
163
261
290
155
140
225
248
222
227
161
261
300
155
138
237
251
224
231
163
254
304
161
146
240
251
221
233
162
242
313
165
149
246
258
221
254
160
225
316
171
162
250
266
223
257
168
232
322
175
166
259
293
233
279
166
255
328
172
161
259
300
238
273
169
271
326
168
157
263
299
321
151
134
r 320
' 154
T 139
T 259
' 285
Adjusted, combined indexcf
Manufactures
.
do
r
r 262
232
262
165
261
r 198
194
179
Nondurable manufactures. _ _ _ _ __ -do
191
197
195
194
195
201
198
Alcoholic beverages
do
162
155
151
162
166
180
164
158
159
173
Chemical products _
do
302
302
299
308
304
319
310
310
314
309
r
112
Leather and products
do.
116
91
112
112
113
116
119
107
117
Leather tanning ..
do
97
81
r 102
97
103
103
103
101
100
98
164
162
Manufactured food products
do
168
161
165
r
165
165
165
164
168
Dairy products
do
148
145
147
148
152
146
151
151
154
156
Meat packing
do
158
147
169
170
176
170
169
174
179
171
123
138
Processed fruits and vegetables
.do
r
r 148
143
143
128
124
147
143
r 155
f
Revised.
P Preliminary.
1 Revisions for June 1952: Minerals 147; fuels, 160; bituminous coal, 97.
{Revised annual totals for 1910-44, incorporating changes in methods of estimation and adjustments in production, disposition, and prices, are shown on p.
SURVEY; revisions beginning 1945 to adjust to benchmarks indicated by the 1950 Census of Agriculture will be available later.
cf Seasonal factors for a number of industries were fixed at 100 during 1939-42; data for these industries are shown only in the unadjusted series.
290
231
246
160
271
199
155
320
111
104
163
152
154
1<U
233
242
r 165
r 279
P
P
P
P
P
P
312
146
130
252
287
230
243
P 158
280
T 198
P 192
152
324
104
97
P 328
r 161
152
r 157
T 1AA
1 ^iS
V
Ifil
150
1 ^7
V 1Q*i
23 of the December 1951
SURVEY OF CURRENT BUSINESS
September 1953
Unless otherwise stated, statistics through
1950 and descriptive notes are shown in the
1951 Statistical Supplement to the Survey
S-3
1953
1952
July
August
September
October
November
December
January
February
March
April
May
June
July
GENERAL BUSINESS INDICATORS—Continued
INDUSTRIAL PRODUCTION—Continued
Federal Reserve Index — Continued
Adjnstedcf— Continued
Manufactures — Continued
N endurable manufactures — Continued
Paper and products
1935-39 = 100_Paper and pulp
do
Printing and publishing
do
Tobacco products
do
Minerals
Metals
-_
-_
do
__do__
160
154
157
172
i ' 139
65
188
180
165
186
192
181
165
187
203
192
176
190
205
194
175
181
196
185
168
172
200
191
173
179
207
197
180
194
211
201
183
194
156
131
175
149
164
145
171
138
168
117
164
120
163
123
162
125
209
199
181
184
164
145
209
199
184
174
••164
••144
'207
197
179
169
v 185
r
P 165
P 138
169
' 145
P 173
BUSINESS SALES AND INVENTORIES^
r
49,311
' 49, 988 r 49, 406
'r 26, 172
26, 226
26, 850
13, 046
13,
238
13, 490
r
13, 126
12, 988
13, 360
' 8, 666
8,713
8, 858
2,892
2, 846
2,897
5,867 r r 5, 774
5, 9R1
14, 473
' 14,280 * r 14, 467
' 5, 103
5, 154
' 5, 124
' 9, 313 ' 9, 370
9, 156
Business sales (adjusted), total
mil. 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.
44, 474
21, 858
9, 777
12,081
8,949
2,817
6, 132
13, 667
4,494
9,173
43, 628
21, 898
10,437
11, 460
8,371
2, 495
5, 876
13, 359
4,199
9,160
46, 288
23, 663
11,510
12,154
9,055
2, 793
6, 262
13, 570
4, 505
9,065
48, 344
24, 753
11,968
12, 785
9. 389
2,931
6, 458
14, 202
4,844
9,358
46 229
23, 430
11,676
11 754
8, 773
2,737
6, 036
14, 026
4, 769
9,257
48 023
24, 276
11 913
12 363
9 337
2, 962
6 375
14,410
4 871
9, 539
47 383
24 292
12 195
12 097
8 951
2,777
6 174
14,140
5 000
9, 1 40
48, 827
25, 170
12, 828
12, 342
9,143
2,929
6,214
14, 514
5,304
9,211
49 104
25, 469
12 821
12 648
9 198
2, 952
6,246
14, 437
5 211
9,225
Business inventories, book value, end of
(adjusted) total
mil
Manufacturing, total
Durable-goods industries - . . . _
Nondurable-goods industries
Wholesale trade, total-. __.
Durable-goods establishments
Nondurable-goods establishments
Retail trade total
Durable-goods stores _ __
_
Nondurable-goods stores
72, 765
42, 748
22, 962
19, 786
9,890
4, 864
5, 026
20,127
8, 749
11,378
72, 714
43, 107
23, 200
19, 908
9, 862
4,934
4,928
19, 745
8, 626
11,119
73, 437
43, 224
23, 292
19,932
9, 932
4, 964
4, 968
20, 281
8, 956
11,325
74, 189
43, 415
23, 615
19, 800
10, 122
4, 986
5, 136
20, 652
9, 175
11,477
74 682
43, 596
23, 835
19, 761
10, 191
5, 084
5, 107
20, 895
9,384
11,511
74 757
43 824
24 292
19 532
10 129
5 079
5 050
20 804
9 352
11, 452
74 619
43 766
24 392
19 374
10 039
5 084
4 955
20 814
9 539
11, 275
74, 941
43, 848
24, 480
19, 368
10, 120
5, 219
4,901
20, 973
9,905
11,068
75 335
44, 056
24, 746
19, 309
10, 183
5 336
4,847
21, 096
10, 084
11, 012
76 466
44, 566
25,122
19,444
10, 244
5, 322
4,922
21, 656
10, 396
11, 260
76, 836
44. 970
25, 420
19, 550
10, 323
5, 349
4,974
21, 543
10, 252
11, 291
r
77, 497
'r 45, 525
25, 775
* 19, 750
r
10, 400
r
5, 276
r
5, 124
r
21,
572
r
10, 257
r
11,315
78 144
45, 670
25, 925
19, 745
10, 420
5,421
4,999
22, 054
•10, 545
11, 509
MANUFACTURERS' SALES, INVENTORIES,
AND ORDER Sf
Sales:
Value (unadjusted), total _
mil. of dol
Durable-goods industries . ___
do. _
Nondurable-goods industries
do
20, 051
8,844
11, 207
22, 605
10, 579
12,026
24, 700
11,905
12,795
26, 488
12, 787
13, 701
23, 408
11,510
11,898
24 31 r9>
12 17
12 14^
23 888
11 747
12 141
' 23, 998
r 12, 089
11, 909
26, 738
13, 581
13, 157
26, 219
13,456
12, 763
25, 302
12, 893
12, 410
'r 25, 878
13, 305
' 12, 572
24, 481
12, 190
12, 291
Value (adjusted), total _ __ _ _ _ _ _ _ _ _ _ do _.
Durable-goods industries, total
do
Primary metals
_ _ _ _ do _
Fabricated metal products
do
Electrical machinery and equipment .-do
Machinery, except electrical
do
Motor vehicles and equipment
do
Transportation equipment, n. e. s
do
Furniture and fixtures
do
Lumber products, except furniture
do
Stone clay and glass products
do
Professional and scientific instruments- -do
Other industries, including ordnance.. -do
21, 858
9,777
1,113
1,184
1,106
1,942
1,167
790
377
621
497
302
678
21, 898
10, 437
1,930
1,053
1,168
1,833
1,309
811
389
600
522
261
563
23, 663
11,510
2,107
1, 156
1, 256
1,966
1,831
749
419
629
545
245
607
24, 753
11,968
2, 198
1,263
1,205
2, 068
1,842
812
410
678
553
277
663
23, 430
11,676
2,100
1,177
1,238
2, 060
1,826
923
362
596
518
255
623
94 97f)
11,913
9 048
1 9287
1 59
9 053
1 990
819
362
727
497
310
629
24 292
12, 195
2 082
1 397
1 256
2 138
2 068
817
305
721
509
312
590
25, 170
12, 828
2,115
1,481
1,342
2,204
2, 164
837
315
766
571
311
723
25, 469
12, 821
2,150
1,446
1,347
2,137
2,241
786
361
717
585
331
719
26, 850
13,490
2,296
1/589
1,316
2,224
2,344
878
373
800
538
365
766
26, 226
13, 238
2,258
1, 507
1, 361
2,097
2 311
885
377
745
590
370
738
'r 26, 172
13, 046
2,172
1,457
1,478
2,089
2, 255
'816
••367
r
752
'597
r
353
'710
26,721
13, 448
2,354
1,545
1,367
2,076
2 256
958
361
786
596
414
735
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 leather products
do
Paper and allied products
do
Printing and publishing
do
Chemicals and allied products
do __
Petroleum and coal products
do
Rubber products
do
12, 081
3,267
609
325
1,162
'1,174
267
650
704
1, 560
1, 956
408
11,460
3,012
573
310
1,058
965
282
667
667
1,473
2,003
452
12, 154
3,246
534
324
1,137
1,068
275
699
678
1,602
2,109
482
12, 785
3,452
513
327
1,188
1,281
265
734
720
1,660
2,181
464
11, 754
3,191
457
309
1,084
1,143
234
663
678
1,532
2,059
403
12 363
3 293
545
344
1 151
1 260
288
689
691
1 558
2 114
438
12 097
3 211
478
306
1 108
1 046
299
736
725
1 667
2 014
507
12, 342
3,314
465
333
1,113
1,038
307
722
754
1,715
2,081
499
12, 648
3,480
570
325
1, 127
1,036
292
718
754
1,767
2 067
510
13 360
3,674
576
327
1,345
1 176
299
720
781
1,808
2 146
608
12 988
3,572
600
308
1 242
1 174
301
708
770
1 781
2 061
472
r
13, 126
3, 453
'671
318
r
1,185
r
1,182
'r 355
734
r
738
r
1, 734
r
2, 268
488
13 273
3 656
705
323
1 225
1 197
342
768.
712
1 743
2 115
do
do....
do
42, 660
23, 050
19, 610
42, 707
23, 116
19, 591
42, 660
23, 147
19, 513
42, 920
23, 385
19, 536
43, 243
23, 553
19, 690
43, 829
24 045
19 784
44, 037
24 253
19 784
44, 264
24, 539
19 726
44, 551
24, 990
19 560
44, 794
25 332
19 462
45, 287
25 771
19 516
45, 685
25, 980
19, 704
45, 628
26 044
19 583
do
do
do
15, 737
11, 813
15, 110
15, 699
12, 041
14, 967
15,836
12, 132
14, 692
16 058
12 272
14, 590
16 236
12 268
14, 739
16 414
12 516
14 898
16 106
12 735
15 195
16 030
13 044
15 190
16 052
13' 236
15 263
15 909
13 371
15 514
16 098
13 368
15' 891
16 197
r X3 45}
r
16 037
16 348
13 274
16 005
42, 748
22, 962
2,928
2,235
3,062
5,314
2,517
2,248
555
1,005
922
757
1,420
43, 107
23, 200
2,971
2,309
3,037
5,280
2,641
2,291
532
1,010
904
770
1,456
43, 224
23, 292
3, 031
2,318
3,031
5,274
2 636
2,343
534
1,006
892
764
1,462
43, 415
23 615
3 084
2, 362
3,039
5,275
2 735
2,472
533
1,019
874
778
1,445
43, 596
23 835
3 165
2 401
3,032
5 287
2 853
2,455
543
1,054
852
785
1,408
43 824
24 299
3 122
2 424
3,096
5 411
3 009
2,576
518
1, 066
850
808
1,412
43 766
24 392
3 156
2 439
3,120
5 396
3 017
2, 566
525
1,072
' 872
809
1,420
43 848
24 480
3' 080
2 420
3,137
5 445
3 050
2^609
544
1,076
890
808
1,422
44 056
24 746
3 070
2 446
3,200
5 482
3 139
2,643
544
1,092
900
794
1,438
44 566
25 122
3 083
2 507
3,302
5 514
3 265
2,661
534
1, 086
920
799
1,451
44 970
25 420
3 132
2 573
3,382
5 514
3 313
2, 635
5^4
1,089
935
807
1, 486 j
' 45 525
r 25 775
3 175
2 694
3, 419
5 529
3 338
2,701
45 670
25 925
3 234
2 756
3,466
5 521
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
month
of dol
do
do
do
do do
do
do
do
do
Book value (adjusted), total-.
__
do __
Durable-goods industries, total
do
Primary metals
do
Fabricated metal products
do Electrical machinery and equipment-- _do
Machinery, except electrical.
_ _ do___
Motor vehicles and equipment
do
Transportation equipment, n. e. s
do
Furniture and
fixtures
do
Lumber products, except furniture
do
Stone, clay, and glass products
do
Professional and scientific instruments .do
Other industries, including ordnance. .-do
r
Revised.
v Preliminary.
tfSee note marked "c?" on p. S-2.
r
r
r
r
49, 894
26, 721
13, 448
13 273
8,627
2, 799
5, 828
14, 546
5,122
9,424
o yon
'1,094
2,729
585
1, 085
818
1,486
808
1, 481
r 5Q9
r yr } y
r
SUEVEY OF CURKENT BUSINESS
S-4
.
Unless otherwise stated, statistics through
1950 and descriptive notes are shown in the
1951 Statistical Supplement to the Survey
September 1953
1953
1952
July
August
September
October
November
December
January
February
March
April
July
Juno
May
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 _ _ _ _ _ d o _ _ .
Beverages
do _
Tobacco manufactures
do
Textile-mill products
do__
Apparel and related products
do
Leather and leather products
_ _ _ do
Paper and allied products
do
Printing and publishing
do__ _
Chemicals and allied products
do
Petroleum and coal products
do
Rubber products
do __
19, 786
3,485
1,289
1,724
2, 764
1,685
554
1,007
715
2, 995
2,683
884
19, 908
3,489
1,259
1,720
2,798
1,770
543
972
722
3,022
2,728
884
19, 932
3,443
1,268
1,726
2,833
1,725
541
973
734
3,022
2,788
877
19, 800
3,488
1,222
1,726
2,841
1,609
549
960
744
3,010
2,777
874
19, 761
3, 450
1,202
1,742
2,743
1,618
545
974
775
3, 009
2,805
897
19, 532
3, 332
1, 164
1,778
2, 654
1, 665
548
1,001
758
2, 968
2, 727
936
19, 374
3,312
1,153
1,773
2,606
1,689
549
990
757
2, 915
2,716
915
19, 368
3,378
1,184
1,738
2,618
1,683
534
992
746
2,894
2,713
887
19, 309
3,275
1,198
1, 731
2,597
1,674
553
990
755
2,907
2, 726
903
19, 444
3,241
1,190
1,750
2,648
1,678
572
998
755
2, 969
2,726
916
New orders, net (adjusted), totalO
do
Durable-goods industries total
do
Primarv metals
do
Fabricated metal products
do
Electrical machinery and equipment
do
Machinery, except electrical
do
Transportation equipment, including motor
vehicles and parts
mil. of dol
Other industries, including ordnance
do
Nondurable-goods industries, total
_ . do__ _
Industries with unfilled orders 9
do
Industries without unfilled orders! _
do
23, 434
11, 140
1,374
1,252
], 174
1,916
21, 852
9,998
1,789
1, 142
1, 066
1, 515
24, 516
12, 328
2,194
1 375
1, 311
1,883
24, 152
11, 452
2,211
1 289
1 324
1,926
23, 061
11,441
1, 855
1 169
1,184
1,999
24, 466
12, Oil
1, 834
1 203
1 366
1,965
24, 270
12, 080
2,027
1 408
1 579
1,784
25, 530
13, 138
2,165
1 390
1 363
1,813
24, 591
12, 023
2,080
1 322
1 096
1, 894
25, 721
12, 621
2,083
1 330
1 684
2,202
2,815
2,609
12, 295
2,996
9,298
2,368
2,118
11, 854
3, 067
8,787
3,301
2, 265
12,187
2,823
9,364
2,252
2,451
12, 700
2,822
9,878
2,789
2, 445
11,620
2, 525
9,095
2,991
2, 651
12, 456
2 904
9, 552
2,946
2,335
12, 190
2 960
9,230
3,824
2,583
12, 392
2 946
9 446
2,792
2,838
12, 567
2 811
9, 756
2,415
2,907
13, 100
2 885
10, 215
Unfilled orders (unadjusted) total O
Durable-goods industries, total
Primarv metals
Fabricated metal products
Electrical machinery and equipment
Machinery, except electrical
Transportation equipment, including
vehicles and parts
mil.
Other industries, including ordnance
Nondurable-goods industries total 9
74, 985
71, 705
8, 561
6, 196
11, 497
11, 279
75, 220
71, 882
8,597
6. 226
11,419
11,115
75, 662
72, 305
8 465
6, 383
11 512
10, 942
74 478
71, 256
8 406
6,335
11 501
10, 651
73, 163
70, 049
8, 125
6, 209
11 241
10, 438
72 5^0
69, 605
7 930
5,994
11 338
10, 226
73 366
70, 230
7 874
6, 305
11 592
10, 102
73
70
7
6
11
9
73
70
7
6
11
9
367
201
838
263
372
665
72 432
69, 328
7 618
6,194
11 592
9, 558
27, 563
6,609
3,280
27, 912
6,613
3,338
28, 587
6,417
3 357
28, 249
6, 112
3 223
28, 081
5, 954
3 114
28, 380
5, 737
2 915
28, 536
5 820
3 136
29, 128
5 963
3 208
28, 9824
6 38
3' 166
28, 067
6 298
3 104
do
do
do
do_
do
do
motor
of dol_.
do
do
699
492
843
247
440
871
r
19, 550
3,198
1,184
1, 766
2,671
1,672
604
987
736
3, 005
2,803
924
- 19, 750
-3,147
25, 306
- 25, 553
- 12 456
r
2,152
r i 233
r 2, 762
- 1, 697
'624
-976
19, 745
3, 065
1,130
1.782
2, 790
1,801
750
588
942
723
-3,122
- 2, 789
3, 166
2,817
942
1,946
r
2, 564
2, 765
12 862
2 895
9 967
3 160
-2,777
- 13 097
- 2 989
- 10 114
2 322
2, 674
13 247
3 021
10 227
71 227
68 051
7 390
6' 096
11 576
9 313
- 70 848
- 67 476
r 7 345
r 5 779
- 11 59 Q
- 9 010
70
67
7
5
11
9
2, 206
i 527
1 496
1 956
r
1,183
- 1,759
25, 168
11 921
1 936
1 418
1 523
2 048
r 12 444
r
r
r 1 189
T
r
' 27. 568 - 27, 757
6 110
- 5 986
3' 176
- 3 372
476
241
301
717
919
198
27, 107
6 007
3 234
BUSINESS POPULATION
OPERATING BUSINESSES AND BUSINESS
TURNOVER
4, 059. 0
404. 4
300. 5
868 2
1, 661. 1
211.4
613. 3
Operating businesses, end of quarter, total thous
Contract construction- _
_ .
_..do. _
Manufacturing
do
Service industries
do
Retail trade.
_ . __
__do
Wholesale trade _ _
_
do_
All other
- _
_ .__ __
-do- _ _
4, 043. 4
403.2
295. 4
867 2
1, 651. 3
211.3
615. 0
New businesses, quarterly total
do _
Contract construction _ _ _ _
_ _ _ _ .do __
Manufacturing . . _ _ _ _ _
_ _ doService industries
_do_ _
Retail trade_-do
Wholesale trade
_
do
A l l other
_ _ _ _ _
. ,
do_ __
90 2
16.2
8. 6
15.3
33. 1
3.9
13.2
80 5
12 3
8 2
14.7
29 6
3 7
12. 1
Discontinued businesses, quarterly totaldo
Contract construction. __
__
__
doManufacturing
_
_
do_
Service industries
_ _
_ _ _ _ _ __do- Retail trade
do
Wholesale trade- _ _
_. _
__ do_
All other
- do-
81.3
11.2
11. 2
12.9
35. 2
3.2
7. 6
96. 0
13 6
13 3
15. 7
39 4
3 7
10 4
101.2
82. 5
Business transfers, quarterly total§
-
-do. -
BUSINESS INCORPORATIONS^
7,549
7,088
7,529
8, 223
6, 741
8 274
9 468
7 943
9 659
9 507
8 968
8 9°6
_ number
do
do _
do
do
do
580
41
48
133
299
59
594
51
58
109
316
60
539
36
50
107
288
58
631
52
88
146
291
54
590
61
62
121
280
66
583
43
647
39
78
130
334
66
691
49
86
132
348
76
739
63
85
154
361
76
693
48
86
140
344
75
697
66
70
143
344
817
74
99
724
40
419
oon
Liabilities, total___ _ _ _ . _ _ thous. of dol
Commercial service
do
Construction _ _ _ _.
do
Manufacturing and mining-. __ __ _ _. _ _ d o _
Retail trade
_ ____
__
do
Wholesale trade
do
22, 789
1,466
3,196
8,882
5,434
3,811
16, 322
1,809
1,816
5, 056
5, 255
2,386
20, 138
947
2,729
6,780
5,317
4 365
35, 049
2,175
5, 167
13, 079
6 078
8 550
18, 757
3,027
1 588
5, 853
5 865
2 424
23 309
868
9 735
9 107
8 009
2 590
27 273
1,180
3 378
8 452
9 139
5 124
31 082
1,387
3 506
12? 213
10 423
3 553
27 590
1,765
3 748
10 585
8 497
2 925
32 789
3,536
2 511
13 981
6 909
5 852
32 379
1, 759
3 ^00
11 179
12 464
4.1 Q94
New incorporations (48 States)
_
number
8
7RQ
INDUSTRIAL AND COMMERCIAL
FAILUREScf
Failures, total- _
_ _
Commercial service
Construction _ . _ _ _
Manufacturing and mining
Retail trade _ _ _ _ _
Wholesale trade
r
_ _ _ _ _
131
288
45
23 400
953
5 068
8,458
7 Q4P)
1 875
74
aA
1 4^
on
1, 210
1 7 1 30
Revised.
*> Preliminary.
fRevised series. See corresponding note on p. S-3.
OAdjusted data for new orders replace the unadjusted series formerly shown; for data beginning 1948, including those for unadjusted unfilled orders, see pp. 17 and 18 of the November
1952 SURVEY.
9 Includes textiles, leather, paper, and printing and publishing industries; unfilled orders for other nondurable-goods industries ar<
are zero.
tFor these industries (food, beverages, tobacco, apparel, petroleum, chemicals, and rubber), sales are considered equal to new orde
^Revisions for 1944—1st quarter 1951 appear in corresponding note in June 1952 SURVEY. ' 'cf Data are from Dun & Bradstreet, Inc. '
SURVEY OF CUERENT BUSINESS
September 1953
Unless otherwise stated, statistics through
1950 and descriptive notes are shown in the
1951 Statistical Supplement to the Survey
S-5
1953
1952
July
August
Septem-
October
November
December
January
February
March
May
April
June
July
COMMODITY PRICES
PRICES RECEIVED AND PAID BY FARMERS
Prices received, all farm products § _ _ _ _ 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, _
295
276
230
227
436
311
214
287
307
312
376
286
208
295
272
236
233
436
319
206
229
310
316
372
295
225
288
264
240
234
428
329
200
182
305
309
349
307
227
282
260
240
219
429
311
215
189
304
301
328
316
228
277
257
248
213
412
288
195
238
300
295
310
318
238
269
257
247
218
428
268
206
256
300
280
291
309
221
267
251
245
214
419
252
208
237
291
281
303
296
218
263
247
240
206
424
255
209
237
287
277
305
286
206
264
253
246
208
424
266
215
248
291
274
301
277
216
259
247
244
206
424
9
66
226
204
289
270
299
264
218
261
243
242
205
426
268
224
182
285
277
317
257
218
259
251
222
198
425
266
253
270
280
267
299
254
213
259
237
218
197
426
269
207
216
268
280
318
261
223
Prices paid:
All commodities
_.. 1910-14=100
Commodities used in living
do
Commodities used in production
_do
All commodities, interest, taxes, and wage rates
1910-14 = 100..
273
273
273
274
273
274
271
271
272
269
269
269
268
269
266
267
269
264
267
268
265
264
266
261
265
269
261
264
269
257
264
270
257
260
271
248
261
271
250
286
287
285
282
281
280
282
280
281
279
279
276
278
Parityratio9
103
103
101
100
99
96
95
94
94
93
94
94
93
All commodities (IT. S. Department of Commerce
index)
1935-39 = 100
211.8
211.8
211.1
210 7
210.4
209.6
209.0
207 8
208.2
207.9
208.2
209 7
210 2
Consumer price index (U. S. Department of
Labor) :f
All items (revised series)
1947-49=100
Apparel
do
Food
--do
Dairy products
do
Fruit and vegetables
_ _ do,
Meats poultry, and
fish
do
Housing
do
Gas and electricity
do
FT ouse furnishings
_do_ _
Rent
do
114.1
105.3
116.3
110.2
124.0
116.4
114.4
104. 2
107.6
117.9
114.3
105.1
116.6
111.0
118.7
119.4
114.6
105.0
107.6
118.2
114 1
105.8
115.4
112. 5
111.5
119.2
114.8
1C 5.0
108. 1
118.3
114 9
105 6
115 0
113 2
111 3
116 9
115 2
105 0
107 9
118 8
114 3
105.2
115.0
113.3
115.9
114.3
115.7
105.4
108.0
119. 5
114 1
105. 1
113.8
112.7
115.8
113.0
116.4
105. 6
108.2
120.7
113 9
104 6
113.1
111 6
116.7
110 9
116.4
105 9
107.7
121 1
113 4
104 6
111. 5
110 7
115.9
107 7
1 16. 6
10§. 1
108.0
121. 5
113 6
104 7
111.7
110 3
115.5
107 4
116.8
106. 5
108.0
121. 7
113 7
104 6
111 5
109 0
115.0
106 8
117.0
106 5
107.8
122 1
114.0
104.7
112.1
107.8
1 1 5. 2
109.2
117.1
106. 6
107. 6
123.0
114 5
104 6
113 7
107 5
121.7
111 3
117.4
106 4
108.0
123 3
i 114 7
104 4
113 8
108 3
118 2
112 0
117 8
106 4
108 1
123 8
118.0
111.9
107.0
126.8
116.0
118.1
112.1
107.0
127.0
115.9
118.8
112.1
107. 3
127.7
115.9
118 9
112 3
107 6
128 4
115.8
118.9
112.4
107 4
128.9
115.8
119.3
112. 5
108 0
128.9
115.9
119.4
112 4
107 8
129 3
115.9
119.3
112 5
107 5
129. 1
115.8
119.5
112.4
107 7
129.3
117.5
120.2
112 5
107 9
129 4
117.9
120.7
112.8
108.0
129.4
118.0
121. 1
112 6
107 8
129 4
118.2
121
112
107
129
118
r 109 5
-do_
RETAIL PRICES
Medical care
__
Personal care
Reading and recreation
Transportation
Other goods and services
do
do
do
do
do___
___
5
6
4
7
3
WHOLESALE PRICESd"
U. S. Department of Labor indexes (revised) :f
All Commodities
1947-49=100
111.8
112.2
111.8
111.1
110.7
109 6
109 9
109 6
110 0
109 4
109.8
Farm products
do
Fruits and vegetables, fresh and dried-. -do
Grains
do
Livestock and live poultry
do
110.2
128.2
94.9
108.2
109.9
124.3
96.9
106.4
106.6
115.6
96.9
99.3
104.9
111.7
95.0
94.8
103.6
113.2
96. 5
93 0
99 2
112.3
96. 1
86 8
99 6
107.3
94 6
92 7
97.9
102.2
93. 1
91 2
99 8
105.8
94. 7
91 7
97 3
106. 9
93 8
87 5
97.8
105.4
93.4
91.7
r
109.9
84 2
86 8
97 9
94.7
85 4
95 9
Foods processed
_
do __
Cereal and bakery products
do
Dairy products and ice cream_ _
do
Fruits and vegetables, canned and frozen
1947-49 = 1 00. _
Meats, poultry, and
fish.
do
110. 0
106.5
113.8
110.5
106.4
114.3
110.3
106. 5
116.4
108.5
106.4
115.9
107.7
107 1
115. 5
104.3
106 8
113.0
105 5
106 8
111 9
105. 2
107 6
110.9
104. 1
108 9
109. 7
103 2
109 2
108 5
104.3
109 0
107.9
103 3
107 9
107 7
105 5
108 5
110 0
103.9
110.6
105.1
112.3
105.9
109.4
105.9
104.1
106.0
102.0
105. 0
93.9
105.4
99.3
105.5
98.2
105.1
91.2
104.4
89.2
104.0
93.8
103.7
91 6
104.8
97 0
112.5
104.2
114.7
92.1
49.8
110.7
106.9
113.0
104.0
114.6
92.1
47.5
110.9
106.9
113.2
104.0
114.3
92.1
48 9
111 0
107.0
113.0
103.9
113.9
92.0
51.0
111.0
106.5
112.8
103 5
112.7
91.9
53 1
111 1
106.3
112.9
103 3
112.3
91.3
52 8
113 0
106. 1
113. 1
103 6
112 8
91.5
53 5
112 9
106 2
113. 1
103 6
113. 1
91.4
52 7
112 7
105.9
113.4
104 2
113.9
91.6
59 0
112 8
106 0
113 2
105 5
117 0
93.0
55 9
113 2
106 0
113.6
105 5
118.0
93.1
49 9
112 9
106 1
r H3 9
r 1()5 g
114 8
106 3
120 2
93.6
46 8
1138
106 1
Fuel, power, and lighting materials
do_.
Coal
do
Electricity
___do
Gas
do
Petroleum and products _ _
_do
Furniture and other household durables
1947-49 = 100.Appliances, household
__
do
Furniture household
do
Radios
- --do
Television sets do
106.0
106.0
99.1
101.4
109.4
105. 8
106. 5
100.7
100.4
108.3
106. 2
107.6
101.3
100 3
108.5
106.6
113.3
98.5
100.4
108. 5
106. 7
113.6
98 0
104 9
108.1
107.2
116 1
98 5
104 9
107 9
107
116
99
108
107
108 1
115 9
100 7
109 5
107 9
108
114
100
109
109
107
111
98
109
109
107 1
110 8
97 4
108 2
109 4
r io§ 3
111 2
111.6
106.8
112.6
111.5
106.8
112.5
112.0
107.3
112 6
93. 7
112.0
107.2
112.6
93. 7
112.1
107 2
112 8
93. 8 /{
112.3
107 5
113 0
95 0
74 9
112.7
107 4
113 2
95 0
74 5
112.9
107 4
113 4
95 5
75 6
113.1
107 9
113 6
95 5
74 9
113.9
108 0
113 8
94 9
74 9
114. 1
108 1
114 0
94 9
74 9
r
Hides, skins, and leather products
do
Footwear
__ _ _
do
Hides and skins
do
Leather
__do
96.2
110.6
61.8
89.3
96.5
110.6
64.4
89.3
96
110
64
89
5
6
4
3
96.6
110.6
65.0
89.9
97
111
69
90
99
112
70
92
0
0
6
9
97 3
112 0
62 1
92 0
98
112
66
91
0
1
5
9
98 1
112 1
64 8
93 5
Q7 9
111 5
66 4
92' 7
100 4
111 5
74 8
r 101 0
97 3
111 7
76 3
98 0
Lumber and wood products
Lumber
__ _
__
_
120.2
120.4
120.5
120.6
120 4
120 6
120 2
120 2
119 7
120 0
119 7
119 8
120 5
120 1
121 1
120 3
121 7
120 9
122 2
121 5
121 8
121 0
r 1 91 P;
r 1 on 7
Commodities other than farm products and
foods
1947-49 = 100
Chemicals and allied products
do
Chemicals, industrial
__do _
Drugs, Pharmaceuticals, cosmetics do
Fats and oils inedible
do
Fertilizer materials
do
Paint and paint materials
do ___
do
._ __do
6
0
2
1
8
3
6
0
9
4
4
7
5
0
4
2
0
5
3
r
95 4
119 2
93.1
r 4^ Q
110 6
106 1
r 9§ 5
108 2
r Hi 1
114. 3
108 1
r 114. l
r 95 4
r 75 Q
r
110 9
111 3
111 9
98 5
108 2
116 8
114.4
108 1
1100
95 0
74 °.
i no (i
111 7
7'J
A
96 1
1 90 1
i 90 9
121.4
121.4
Machinery and motive products..
do __
121.5
121.3
r 122 9
121 4
121 4
121 5
121 8
121 6
122 4
122 0
r
Agricultural machinery and equip
do
121.5
121.5
121.5
121.5
121.6
121.7
121.8
122.2
121.8
122.4
122.3
122. 6
122. Q
125.4
Construction machinery and equip
do
125.3
125.8
125.8
126.2
126.3
126.2
126. 3
127.1
129.1
128.6
129.4
129.6
r
Electrical machinery and equipment--do
119.9
119.8
119.0
119.5
119.7
119.6
119.6
119.9
119.7
122.6
124. 2
121.3
124.4
Motor vehicles
do
119.7
11Q Q
11C «
na «
118 fi
118 Q
190 n
119.7
119.7
119 S
119.7
119.7
119.7
1
'Revised.
Index on base previously used (1935-39=100) is 191.8.
§ August 1953 indexes: All farm products, 258; crops, 237; food grains, 215; feed grains and hay, 198; tobacco, 430; cotton, 277; fruit, 205; truck crops, 221- oil-bearing crops 262- livestock
and products, 276; meat animals, 305; dairy products, 267; poultry and eggs, 230.
' veotuclt
9 Ratio of prices received to prices paid (including interest, taxes, and wage rates).
cfFor actual wholesale prices of individual commodities, see respective commodities.
tRevised series. Consumer price indexes through 1952 reflect shift in base period and changes in classifications; data beginning 1953 represent the completely revised or "new index" incorporating revised weights, expanded sample of items, and revised sample of cities; revised data for 1913-51 appear on p. 23 of the April 1953 SURVEY. Revised wholesale price indexes reflect
use of new base period, expansion of commodity coverage, and changes in the classification system, weights, and calculation method; for monthly data (1947-51), see pp 22-24 of the March 1952
bURVEY; for monthly data (1926-46) for "all commodities" and "all commodities, except farm products and foods", see p. 24 of the June 1952 issue.
SUEVEY OF CUKKENT BUSINESS
S-6
Unless otherwise stated, statistics through
1950 and descriptive notes are shown in the
1951 Statistical Supplement to the Survey
September 1953
1952
July
August
September
1953
October
November
December
January
February
March
April
May
June
July
COMMODITY PRICES— Continued
WHOLESALE PRICESd*— Continued
U. S. Department of Labor indexes (revised) :t— Con.
Commodities other than farm prod., etc.— Con.
Metals and metal products
1947-49=100.Heating equipment
do
Iron and steel
do
Nonferrous metals
do
Nonmetallic minerals, structural
do
Clay products
do
Concrete products
do
Gypsum products
do
Pulp paper and allied products
Paper
Rubber and products
Tires and tubes
Textile products and apparel
Apparel
Cotton products
Silk products
Synthetic textiles
Wool products
_
do
do_ _
do
do
do
do __
do
do_ __
do
do
Tobacco mfrs. and bottled beverages A- --do
Beverages, alcoholic A
do
Cigarettes A
- do
121.9
113.6
122.3
124.0
113.8
121.3
112.4
117.7
124.1
113.7
127.2
124.4
113.8
121.3
112.4
117.7
124.6
113.7
127.5
124.7
113.8
121.3
112.7
117.7
124.1
113.7
127.3
122.9
114.4
124.0
112.7
117.7
123.9
113. 6
127.0
122.5
114.5
124.0
112.7
117.7
124.0
113.6
127.0
122.3
114.6
124.0
112.7
117.7
124.0
113.8
127.1
122.5
114.6
124.0
112.8
117.7
124.6
113.9
127.5
124.4
114.6
124.0
112.8
117.7
125.5
113.9
127.7
131.5
115.1
124.3
112.8
118.3
125.0
113.8
127.7
128.2
116.9
124.6
114.2
122.1
125.7
114.4
128.9
126.6
117.2
124.7
115.5
122.1
r 126. 9
115.3
123.8
130.0
129.6
98.9
99.5
96.1
134.7
89.2
113.9
115.6
124.0
127.8
126.3
99.1
99.1
97.6
139.3
90.5
113.3
115.6
124.0
126.3
126.3
99.5
99.3
98.9
139.3
89.9
112.4
115.5
124.9
126.0
126.3
99.2
98.4
99.2
140.0
89.5
113.2
115.5
124.9
126.4
126.3
98.6
98.3
98.4
139.3
89.0
112.6
115.9
124.9
127.7
126.3
98.2
98.3
97.7
139.7
87.8
112.6
115.8
124.9
127.3
126.3
98.8
100.0
97.0
141.4
88.1
113.0
115.3
124.9
126.2
126.3
98.5
99.9
96.1
141.4
88.3
111.5
115. 1
124.9
125.7
126.3
97.5
99.6
93.1
141.4
87.9
111.9
115.3
124.9
124.8
126.3
97.4
99.9
92.9
131.6
88.0
111.3
115.4
124.9
125.4
126.3
97.6
99.9
93.3
133.0
87.4
112.0
'115.8
124.7
' 125. 0
126.3
'99.4
93.4
134.7
87.5
111.6
115.8
125.1
124.7
126.3
97.3
99.4
93.2
134.7
87.5
111.7
112.0
110.5
112.0
112.0
110. 5
112.0
112.1
110.5
112.0
112.1
110.5
112.0
112.1
110.5
112.0
112.1
110.5
112.0
111.9
110.1
112.0
111.9
110.1
112.0
114.8
110.0
124.0
114.8
110.0
124.0
114.8
110.0
124.0
'114.9
110.0
' 124. 0
115.6
110.0
124.0
89.4
87.6
86.0
89.1
87.5
85.8
89.4
87.6
86.7
90.0
87.6
87.0
90.3
87.5
87.0
91.2
87.6
87.9
91.0
87.8
88.4
91.2
88 2
89"! 7
90.9
88.0
89.5
91.4
88.0
89.7
91.1
87.7
89.2
' 91.3
87.3
88.0
i 90.2
187.2
i 87.9
'114.6
r 130. 9
127.6
'118.1
r 125. 1
115. 5
122.1
r97.4
129.3
115. 2
135. 6
126.4
119.4
131.1
115.6
122.1
PURCHASING POWER OF THE DOLLAR
As measured byWholesale pricesf
Consumer pricesf
Retail food pricesf
1947-49=100-do
do_ _
CONSTRUCTION AND REAL ESTATE
CONSTRUCTION ACTIVITY?
mil. of dol__
3,027
3,095
3,098
3,011
2,787
2,513
2,361
2,278
2,521
2,735
2,941
3,199
3,286
Private total
do
Residential (n on farm)
do
New dwelling units
do
Additions and alterations
do
Nonresidential building, except farm and public
utility, total
_
mil. of d o l .
Industrial
do
Commercial
do
Farm construction
do
Public utility
do -
1,994
1,023
905
101
2, 037
1,047
930
99
2,030
1,049
935
96
1,988
1,048
935
95
1,924
1, 033
925
90
1,789
953
865
70
1,627
816
735
63
1,575
758
675
64
1,729
863
770
74
1,851
944
830
94
1,988
1,007
880
105
2,149
1,110
980
107
2,176
1,106
970
112
411
180
97
180
371
418
181
98
183
381
430
187
101
168
376
434
189
104
139
360
435
190
109
117
331
421
187
107
103
304
431
201
109
97
275
434
204
112
100
275
430
198
114
108
320
426
193
113
120
352
451
192
129
138
380
479
187
152
148
399
492
178
165
155
410
Public, total
Residential _
Nonresidential building
Military and naval
Highway
Conservation and development
Other types
1,033
53
375
121
320
76
88
1,058
55
373
129
335
75
91
1,068
53
369
127
350
79
90
1,023
52
352
125
330
77
87
863
49
332
117
215
70
80
724
47
314
107
120
62
74
734
47
328
109
115
61
74
703
48
315
104
110
56
70
792
47
353
111
140
65
76
884
49
369
114
200
70
82
953
49
374
115
260
70
85
1,050
50
384
121
330
76
89
1,110
46
388
126
375
78
97
New construction, total
do
_ do
do
do
do
...do _.
do
CONTRACT AWARDS
Construction contracts awarded in 37 States (F. W.
Dodge Corp.):
52, 078
52, 909
47, 006
Total projects
number
Total valuation
thous. of dol_. 1,511,285 1, 438, 725 2,039,203
618,
737
501,
258
1,
269,
355
Public ownership
do
892, 548
937, 467
779, 848
Private ownership
do
Nonresidential buildings:
Projects
Floor area
Valuation
Residential buildings:
Projects
Floor area
Valuation
Public works:
Projects
Valuation
Utilities:
Projects
Valuation
-
number _
thous. of sq. ft._
thous. of dol__
5,468
40, 979
562, 686
5,196
38, 912
519, 940
4,289
29, 257
1,272,367
5,161
38, 822
470, 520
4,382
39, 788
461, 476
3,589
51, 596
713, 100
3, 651
32, 343
406, 914
3,529
31,115
374, 321
4,760
35, 566
449, 175
5,416
44, 455
680, 330
5,728
45, 640
582, 061
5,020
35, 185
459, 230
6,209
57, 374
764, 393
numberthous. of sq. ft
thous. of dol__
43, 465
64, 003
608, 078
44, 943
65, 863
627, 596
40, 440
56, 743
518, 471
43, 312
65, 489
602, 313
35, 487
55, 872
528, 429
29, 808
48, 996
438, 580
30, 674
51,315
460, 036
29, 960
46, 658
418, 568
44, 115
65, 393
605, 200
47, 761
70, 602
673, 887
44,317
66, 655
637, 721
32, 745
49, 797
463, 084
44, 227
70, 206
653, 407
number- _
thous. of dol _
2,680
243, 458
2,310
208, 887
1,838
176, 652
1,665
152, 455
1, 336
195, 265
911
134, 114
835
152, 793
778
135, 326
1,247
219, 157
1,849
293, 569
2,094
288, 783
1,874
138, 257
2,336
269, 600
465
97, 063
460
82, 302
439
71, 713
404
85, 670
364
63, 633
353
181, 590
315
56, 125
294
93, 095
362
73, 986
409
93, 756
405
97, 526
430
54, 938
532
105, 94fi
194
199
177
196
218
192
207
193
209
192
207
191
201
181
210
185
177
172
196
178
166
156
205
183
156
144
190
173
151
163
173
182
180
186
177
176
205
210
179
179
••195
194
'161
'197
'192
'169
r
174
193
182
175
180
2, 310, 504 2, 210, 572
952, 218
number
thous. of dol
Value of contract awards (F. R. indexes) :f
Total, unadjusted
_.
1947-49=100
Residential, unadjusted..
__
do_ _
Total, adjusted
do
Residential, adjusted
do
Engineering construction:
Contract awards (ENR)§.
34, 661
40, 069
52,544
50, 484
34, 561
55, 435
35, 475
41, 569
50, 542
53, 304
1,310,958 1, 248, 803 1, 467, 384 1, 075, 868 1, 021, 310 1, 347, 518 1, 741, 542 1, 606, 091 1, 115, 509 1, 793, 342
477,
693
372, 004
672, 838
553, 760
490,
650
350, 709
610, 348
416, 577
449, 779
410, 433
989, 691
743, 505 1, 182, 994
670, 601
626, 089
930, 941 1,068,704 1, 052, 331
758, 153
890, 525
thous. of dol
Highway concrete pavement contract awards:©
Total
thous. of sq. yd_.
Airports
_
.
do _ _
Roads
_
do
Streets and alleys
do
6,587
729
2,657
3,201
6,081
1,070
2,652
2.359
5,537
1,691
1, 051
2,795
1,446,381 1, 079, 879
5,258
1,512
1,486
2.259
2,571
390
1,193
988
906, 976 1, 886, 520 1, 023, 021 1, 200, 048 1, 473, 244
2 4, 675
446
2, 775
2
1.454
2
4,874
1,226
2,622
1.026
3,509
495
1,481
1. 533
7,006
1,652
3,215
2. 140
9,537
1,675
4,590
3. 273
r
r
164
1,083,795 1, 318, 070 1, 262, 992
8,333
413
5,237
2.682
5,698
278
3,315
2.105
8,658
973
4,232
3 453
r
1
Revised.
Indexes on base formerly used (1935-39=100) are as follows: Measured by—wholesale prices, 47.2; consumer prices, 52.1; retail food, 43.5.
2 Data include some contracts
awarded in prior months but not reported.
cf For actual wholesale prices of individual commodities, see respective commodities.
JSee note marked "f" on p. S-5.
AReyised to reflect change in method of calculating excise taxes and discounts; comparable data prior to March 1952 will be shown later.
tReyised series. Purchasing-power data arc based on revised price indexes shown on p. S-5. Indexes of contract awards reflect use of new base period. Revisions prior to 1952 for
purchasing power and prior to 1951 for contract awards will be shown later.
9 Revisions for 1947-50 appear on p. 20 of the March 1953 SURVEY. Revisions for January-March 1951 (except for grand total, total public, and military and naval, which have been
further revised and will be shown later) appear at bottom of p. S-4 of the June 1952 SURVEY. §Data for July and October 1952 and January, April, and July 1953 are for 5 weeks; other
months, 4 weeks. ©Data for July, October, and December 1952 and April and July 1953 are for 5 weeks; other months, 4 weeks.
SURVEY OF CURRENT BUSINESS
September 1953
S-7
1953
1952
Unless otherwise stated, statistics through
1950 and descriptive notes are shown in the
1951 Statistical Supplement to the Survey
July
August
September
October
November
December
January
February
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): J
New urban dwelling units, total
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 :t
Number of new dwelling units .... 1947-49 = 100..
Valuation of building total
do
New residential building
do
New nonresidential building
do_- _
Additions, alterations, and repairs
do
102, 600
99, 100
100, 800
101, 100
86, 100
71, 500
72, 100
79, 200
105, 800
111, 400
' 108, 300
103, 000
53, 119
50, 636
41, 842
2,938
5, 856
2,483
50, 431
48, 768
39, 110
3,289
6,369
1,663
54, 229
52, 528
42, 767
3.588
6,173
1,701
54, 409
52 785
42, 655
3 055
7, 075
1 624
40, 789
38 314
30, 854
2 521
4,939
2 475
38,046
33 905
26, 309
2 485
5,111
4 141
38, 776
35 103
26, 858
2 511
5,734
3 673
44, 517
39 859
31,061
2 817
5 981
• 4 658
65, 405
56 137
44, 648
3 344
8 145
9 268
60, 196
57, 222
46, 074
3, 524
7,624
2,974
55, 095
52, 638
42, 396
3, 274
6, 968
2,457
' 54, 067
' 51, 735
41,306
2,630
•• 7, 799
' 2, 332
47, 133
46, 563
36, 975
2,896
6,692
'115.9
145.6
150.9
T
139. 8
' 139. 2
108.2
133.8
139.4
128.6
124.6
117.1
143.0
155.2
127.8
132.9
119.9
147 8
161.2
132.9
131.9
88.9
114.3
117.9
114.6
100.0
83.1
108 9
106.6
119 6
92.8
85.0
106 6
107.4
108 5
99.6
95.8
120 2
124.9
118 2
106.8
142.8
170 0
193.4
148 7
131.4
133.7
183.4
181. 4
200.9
151.2
120.7
164.4
164.4
172.5
145.9
fr 118. 0
160. 0
' 160. 3
' 159. 8
' 159. 5
102.9
158.5
144.4
182.6
156.0
121.8
122.4
122.7
383
122.6
122.5
122.5
383
' 122. 6
' 122. 4
' 122. 4
383
«• 122. 6
' 122. 9
r
124. 1
385
125.2
555
600
554
513
549
558
602
555
513
549
561
604
556
514
551
562
604
557
521
551
564
604
572
521
551
567
604
573
522
558
568
611
574
522
560
567
611
574
523
559
573
616
592
526
568
580
639
601
526
574
* 96, 000
570
CONSTRUCTION COST INDEXES
Department of Commerce composite f_ 1947-49 =100-Aberthaw (industrial building)
1914=100
American Appraisal Co.:
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:!
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 and steel
do
Brick and wood
_
-- do
Frame
__
- --do
Steel
-do _ _ _
Residences:
Brick
_
do__
Frame
do
Engineering News-Record :tcf
Building
1947-49 = 100-Construction
do
Bu. of Public Roads— Highway construction: A
Composite, standard mile—
1946=100--
572
616
592
524
568
572
614
587
525
564
569
614
579
525
561
391
393
394
397
398
399
398
398
399
401
402
411
243.5
242.9
252.7
245.3
244.5
253.8
246.0
245.2
254.4
246.4
245.5
254 2
246.4
245.3
253 4
246.3
245 1
253 3
246.6
245 6
254 1
246.5
245 3
253 9
247.3
245 9
254 3
247.7
246.2
254 6
249.2
247.4
255.5
251.3
249.6
257.1
254.2
252.2
259. 0
246. 8
245.7
248.8
256. 4
229.5
248.6
247. 5
249.8
257.0
231.2
249.4
248.5
250.5
257.3
232.2
249.8
248 2
250.5
256.8
232.4
249.7
248 0
250.0
255.8
232.3
249 8
248 5
249 9
255. 5
232 3
251
248
250
256
232
251
248
250
256
232
1
9
4
4
5
252 6
249 2
250 8
256.6
233 1
253.2
249 5
251.3
256.6
233.3
255.2
251. 0
252.3
257.4
234.2
257.5
254.7
254.0
259.2
239.1
260.5
257 4
255.8
261.2
241.2
253.3
250.4
254.2
251. 1
254.8
251.5
254. 6
251. 2
253.8
250.3
253. 7
250 1
254 4
250 9
254 3
250 8
254 8
251 2
255.1
251 4
256. 0
252. 0
257.4
253.5
259.4
255.4
124.9
128.8
125.5
129.4
125.6
129.9
126.0
129.9
125.7
129.7
125. 7
129 6
125.8
129 6
125.7
129 7
126.1
130 1
126.1
130 0
126.1
130.9
128.7
133.4
129.3
135.1
137.5
0
9
6
6
6
138.6
411
133.2
139.4
CONSTRUCTION MATERIALS
Production of selected construction materials, index:!
Unadjusted
1939=100
Adjusted
do...
149.7
140.7
173.6
153.4
177.6
165.2
185.2
167.1
156.1
157.5
149 0
168 6
145 6
170.5
143 1
173 4
161 5
170.9
172 4
173.4
167.8
158.6
»» 174.6
v 163. 2
183, 801
243, 087
206, 739
226 936
211, 027
243 300
189, 690
247 529
193, 370
227 910
201, 159
151 570
187, 078
215, 950
185, 610
241, 928
REAL ESTATE
Home mortgages insured or guaranteed by—
Fed. Hous. Adm.: Face amount 9
162, 167
211, 042
184, 356
thous. of doL- 164, 982
202, 746
Vet. Adm.: Face amount
--do.- - 189, 189
217, 292
220, 008
Federal Home Loan Banks, outstanding advances
656
687
to member institutions
mil. of dol 752
715
New mortgage loans of all savings and loan associa595, 994
617, 431
658 787
tions, estimated total
thous of dol
616,352
By purpose of loan:
190, 039
199, 720
207. 589
192, 667
Home construction
. do
264, 692
279, 192
?85 337
303 107
Home purchase
do
53, 014
50, 850
54, 597
Refinancing
- do ._
50, 457
25, 065
24, 625
25 997
Repairs and reconditioning
do
26 097
63, 184
63, 044
All other purposes
do _.
61,794
67, 497
New nonfarm mortgages recorded ($20,000 and
under), estimated total
thous. of doL. 1, 590, 319 1, 597, 783 1, 587, 523 1, 727, 343
11.7
11.1
12.4
11.6
Nonfarm foreclosures, adjusted index. 1935-39=100-.
61, 675
56, 462
58, 949
63, 958
Fire losses
thous. of doL.
203, 130
224 596
791
864
683
627
611
626
644
718
700
522 681
541 295
497 314
523 210
639 133
677 941
690 277
733 216
757 569
163, 074
243 112
42, 379
20 148
53, 968
161
248
49
19
61
147
222
49
18
60
164
222
52
20
63
205
266
62
25
79
225
288
60
26
77
231
295
58
27
76
241 284
327 046
59 961
27 307
77' 618
236
355
58
27
80
405
448
739
730
973
444
232
Oil
408
219
177
353
694
253
733
584
289
308
121
831
896
443
425
062
115
676
337
627
643
994
513
316
476
043
221
1,492,390 1 553 457 1 400 615 1 391 203 1 626 602 1 708 623 1 698 634 1 769 259 1 797 760
10.6
13.0
14.0
11.8
12.8
13.2
13.1
13.4
74, 127
65, 129
64, 239
67, 644
83, 471
76, 659
67, 362
74, 938
72, 706
DOMESTIC TRADE
ADVERTISING
Printers' Ink advertising index, adjusted:
Combined index
1935-39=100
Business papers
do
Magazines
do _
Newspapers
do
Outdoor.
_ d o __
Radio. _ ... _
. _
_ -.- _ . d o
Tide advertising index, unadjusted!- -1947-49= 100- Radio advertising:
Cost of facilities, total
_ thous. of dol..
Automotive, incl. accessories
do
Drugs and toiletries. . _ _ _ ..do
Electric household equipment
_ do
Financial.
-. _ . ... _
_ _ _ . _do-_.
Foods, soft drinks, confectionery. .
do
Gasoline and oil-___ do ___
Soap, cleansers, etc
do
Smoking materials.. _ _ _ _ _ _ _ _ _ . d o ._
All others
do
445
554
403
327
359
226
114.2
456
548
369
310
383
254
111.2
456
547
387
318
344
264
141.9
475
529
420
340
378
268
165.4
473
570
408
330
371
256
157.6
488
539
394
323
373
265
127.3
465
556
390
338
382
238
119.6
466
564
411
332
369
235
134.4
500
571
421
361
398
249
164.9
498
564
426
350
391
249
171.6
507
570
429
357
399
241
174. 6
512
565
438
356
387
246
158.6
541
560
420
362
412
278
126.6
11, 254
10, 974
12, 890
15, 442
14, 478
14, 925
14, 641
12, 660
14, 183 r 14, 063 '13,118
13, 878
196
256
323
396
522
521
640
598
397
508
511
557
r
r
2,658
3,003
3,254
4,287
3,787
4,278
4,212
4,403
4,268
3,846
4, 0«2
4, 258
1,004
349
337
464
474
357
388
329
349
385
377
433
338
331
367
308
285
323
215
234
223
203
236
238
2,604
3,319
2,971
3,683
3,424
3,789
3, 510
3,178
3,557
3,606
3,549
3,046
381
434
455
376
366
446
446
409
454
372
402
386
1,079
1,257
1,623
1,704
1,482
1,588
1, 192
1,324
1,118
1,238
1,363
1,331
700
1,292
776
1,042
1,277
1,322
1.295
1,291
1,415
1,463
1,370
1,420
2,296
1,559
2,206
2,930
2,744
2,022
2,301
1,890
2,336
2,044
2, 101
1.662
r
Revised.
v Preliminary.
1 Data for August 1953, 94,000.
ARevised to new base and to reflect other adjustments; data prior to March 1952 will be shown later.
fRevised series. Indexes of urban building and construction costs (Dept. of Commerce and ENR) reflect use of new base period; revisions prior to February 1951 for urban building and
prior to August 1951 for Engineering News-Record indexes will be published later. Revised indexes (Dept. of Commerce composite) for 1915-38 (annual) and 1939-51 (monthly) are shown
on p. 24 of the August 1952 SURVEY. The Tide advertising index has been completely revised to incorporate new base period and other major changes, including addition of data for network television; figures back to 1940 will be available later.
§ Copyrighted data; see last paragraph of headnote, p. S-l.
d"Data reported at the beginning of each month are shown here
for the previous month.
^Revisions for January 1951-March 1952 for urban building authorized and for January-November 1951 for construction materials will be shown later.
9 Revised to
include additional data; figures prior to February 1952 are available upon request.
SURVEY OF CURRENT BUSINESS
S-8
19 32
Unless otherwise stated, statistics through
1951 Statistical Supplement to the Survey
September 1953
July
August
September
1953
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 _-
35, 240
862
3,702
1,388
5,816
5,695
1,977
38, 442
3,588
3,671
1,549
5, 456
5,472
1,672
56, 978
6 469
4, 366
3 127
6,653
6,883
2,388
63, 494
5 250
4,775
3 139
7, 556
9,047
2,924
63 849
4 296
5 102
2 363
7 657
8,753
3 250
48, 083
3 802
2, 507
942
5,502
6,957
4,261
35 018
1 563
4 033
1 343
4,461
5, 173
1,480
50 682
3 271
4 744
2 099
6 068
8,758
2 314
65 645
5 884
6 199
3 343
7 018
9, 653
2 606
65 525
4 593
6 135
3 832
6,425
8,230
2, 625
67 606
5 536
6 400
4 340
6. 572
7,831
2, 630
57 876
3 771
5 894
3 498
7 150
8, 016
r
2,452
do
do _ _
do
do
do
do
1,646
579
2,643
745
1,198
8,989
1,375
979
2, 861
774
1,398
9, 648
3 688
2, 747
3 774
1, 266
1, 437
14 182
4 590
4,015
3 981
1,509
1,480
15,228
4 171
3 290
4 175
1 429
1 527
17 838
3,209
1, 744
3, 118
818
1,669
13, 555
1 013
938
2 639
830
1,112
10, 434
2 Hn
1 555
3 025
l' 272
1, 388
14 074
4 675
2 551
3 618
1 699
1,444
16 954
5 614
4,178
4 079
1,711
1 , 260
16,844
5 561
3, 791
3 996
1,940
1,700
17. 308
4 570
2,087
3 891
1,615
1, 677
T
13, 252
_ _ thous. of lines _ _
3,133
3, 960
4, 798
4.898
4 299
3,162
3, 667
4, 251
4 991
4, 699
4,445
3, 360
3, 205
do
do
do _.
. _ do _
do
do
do
175,447
47, 979
127,468
7,351
3,046
25, 674
91,398
186, 555
52, 741
133,814
7,781
1,894
22, 061
102, 077
214, 509
54 124
160 385
7, 367
2, 596
29 711
120, 709
245 004
56 503
188 410
10, 383
2 518
39 411
136 098
234
52
182
10
2
34
134
873
399
474
734
400
359
981
219, 798
45, 563
174, 235
8,847
2, 550
24, 506
138, 332
182, 718
50 052
132 666
9, 121
3 808
21 433
98 304
186,115
49 479
136, 636
8,720
2,377
26 537
99, 001
231 721
58 456
173 264
10,877
3 017
33 812
125 559
233, 487
58, 194
175,292
12,535
2,910
35, 090
124, 758
244, 446
62, 385
182, 061
13, 493
2, 549
36, 191
129, 828
215,965
56 330
159, 635
13, 550
2, 691
31 171
112,223
187, 997
53 368
134 629
11,581
3 074
24 531
95 442
thousands
thous. of dol__
6,242
119, 289
6, 174
119, 935
6,711
127, 034
6 764
J 25, 622
6 275
114, 728
7, 299
131, 677
6 672
121,828
6 423
120, 178
7 928
150,315
6,946
128,270
6,385
117,261
6, 657
126, 017
6 299
119,269
Household equipment and supplies
Household furnishings
Industrial materials
Soaps cleansers, etc
Smoking materials
_
All other
Linage total
Newspaper advertising:
Linage total (52 cities)
(Classified
Display, total
Automotive
Financial
General
Retail
__
-
-
._ ._
_ _ _
_
._
POSTAL BUSINESS
Money orders issued (50 cities):
Domestic:
Number
Value
PERSONAL CONSUMPTION
EXPENDITURES
Seasonally adjusted quarterly totals at annual rates:!
Goods and services total
foil
of dol
217.2
224 4
297 7
230 4
Durable goods total
Automobiles and parts
Furniture and household equipment
Other durable goods
do
do
do
do
25.1
8.8
12. 1
4.3
28 2
11.5
12.3
4.4
30 2
13.4
12 4
4 4
30 7
14.4
12 0
4 3
Nondurable goods, total
Clothing and shoes
Food and alcoholic beverages
Gasoline and oil
Semidurable housefurnishings
Tobacco
Other nondurable goods
do
do
do
do
do
do
do
118.7
20.4
73.0
5.8
2.1
5 2
12.1
121. 1
21.5
73.5
6. 1
2. 1
5 2
12.7
121 2
20 9
74 2
6 2
2 0
5 2
12.8
Services
Household operation
Housing
Personal services
Recreation
Transportation
Other services
do
do
do
do
do
do
do
73.3
10 9
24.3
4. 2
4 3
6. 0
23 6
75.1
11.3
24.8
4.2
4.3
6.1
24.3
76
11
25
4
4
6
24
3
3
3
3
4
2
8
%
192
20
74
6
2
5
l^
1
7
9
'?
1
4
9
77
11
25
4
4
6
25
6
5
8
3
4
3
4
RETAIL TRADE
All retail stores :f
Estimated sales (unadjusted), total. ..mil. of dol_.
Durable-goods stores
do
Automotive group..
..
.do
Motor-vehicle, other automotive dealers
mil. of dol_Tire, battery, accessory dealers.
do
Furniture and appliance group
do
Furniture, homefurnishings stores
do
Household-appliance, radio stores
do
Jewelry stores
do
Lumber, building, hardware group _ _ _ _ d o
Lumber, building-materials dealers _ _ do
Hardware stores
do
Nondurable-goods stores _ _
Apparel group
Men's and boys' wear stores.
Women's apparel, accessory stores
Family and other apparel stores
Shoe stores. _. _
. ._
Drug and proprietary stores
Eating and drinking places
do
do
do
do
do
do
do
do
13, 396
4, 627
2,374
13, 448
4,410
2,103
13, 620
4, 670
2,353
14, 819
5, 116
2,681
14, 008
4 514
2,319
16,910
5,214
2,378
13, 054
4 450
2,546
12, 329
4, 357
2,501
13, 956
4 969
2,848
14. 167
5, 139
2,919
2,200
174
713
419
294
95
923
709
214
1,929
174
754
468
286
104
905
689
216
2,179
174
756
445
311
100
924
700
224
2,509
172
834
495
339
123
961
728
233
2, 166
153
823
481
342
126
812
593
219
2,175
203
1, 039
571
469
338
878
588
290
2,411
136
676
374
302
96
684
518
166
2,377
124
656
355
301
89
660
492
167
2,705
143
676
391
285
95
788
588
200
2,764
155
676
397
280
101
868
649
219
' 2, 929
' 163
' 752
' 455
••297
8,769
700
161
274
142
124
388
1,130
9, 038
770
163
316
156
136
392
1,149
8, 950
910
196
365
184
165
374
1,114
9.703
1 023
240
411
221
151
401
1,122
9 493
1 003
259
384
216
144
385
1, 044
11,696
1, 533
427
560
353
194
513
1,109
8,604
740
187
286
156
111
392
1,008
7,972
616
145
254
126
91
387
940
8 986
893
184
368
190
150
381
1,055
9,027
866
184
362
173
149
383
1, 024
' 9, 264
T
888
' 14, 605 ' 14, 578
r
- 5, 400
5 480
r
r
3, 093
3. 033
r
2, 862
T
111
r
796
' 453
r
343
r
108
' 965
r
733
r
246
2,913
166
758
420
338
89
934
721
T
9 097
T gj3
r
198
r
342
T
172
r
161
'396
1, 093
8 986
727
151
291
148
138
398
1,157
r 104
'897
' 662
' 234
' 188
••375
'170
' 155
"•397
' 1, 085
r
14, 383
5 396
3 079
r
r
914
3,397
3, 453
Food group.- _
do
3 485
3 395
3 427
3, 555
3, 242
3,440
3 301
3 377
3 395
3 095
3 477
2, 764
Grocery stores .
_.
do
2,641
2,820
' 2, 858 r 2 781
2,742
2,787
2,526
2,763
2, 843
2,667
2,756
2 868
905
915
Gasoline service stations
do
-888
826
852
866
902
779
752
872
810
-916
986
r
1,450
1,269
General-merchandise group. .
. _ do _.
1,523
1,773
1, 536
1,479
1,466
1,769
1, 171
' 1 542
1,239
2, 790
1 319
667
Department stores, excl. mail-order _ _ do
783
857
979
829
978
810
624
' 855
'879
673
1,521
702
r
104
86
Mail-order (catalog sales)
_
do
98
117
137
139
104
98
115
187
94
88
88
r
r 2-11
212
Variety stores
do
235
236
245
225
232
258
257
193
521
186
2°9
r
304
Other general-merchandise stores
do
328
'324
324
395
306
309
293
398
343
561
260
300
9
254
260
Liquor stores
do ._
T 261
250
242
289
411
283
249
29
- 247
2fiO
230
' Revised.
^Unpublished revisions for magazine advertising are available upon request for the following periods: January, February, March, and October 1950; January, February, September, October,
November, and December 1951; January 1952. Revised personal consumption expenditures for 1949 appear on p. 20 of the November 1952 SURVEY; revisions beginning 1950 for the grand total
and for total durable and nondurable goods and services are shown as components of gross national product in table 43 on p. 28 of the July 1953 SURVEY; revisions beginning 1950 for the subgroups will be shown later.
tRevised series. Beginning with the September 1952 SURVEY, retail sales data have been replaced by a new series based on new sampling procedures developed by the Bureau of the Census.
The new estimates begin with January 1951; see pp. 16 ff. of the September 1952 SURVEY for figures covering the entire year 1951 for both the new and old series and for discussion of the new
data; January 1952 revisions for the adjusted series are available upon request.
SURVEY OF CURRENT BUSINESS
September 1953
Unless otherwise stated, statistics through
1950 and descriptive notes are shown in the
1951 Statistical Supplement to the Survey
S-9
1953
1952
July
August
September
October
November
December
January
February
March
April
May
June
'14,412
r
5 103
r
2 816
r
2, 663
r
153
July
DOMESTIC TRADE—Continued
RETAIL TRADE— Continued
All retail stores — Continued
Estimated sales (adjusted), totalf
mil. of doL_
Durable-goods stores
_- _ _ do_
Automotive group
do
Motor- vehicle, other automotive dealers.do
Tire, battery, accessory dealers
do
Furniture and appliance group
do
Furniture, homefurnishings stores
do
Household-appliance, radio stores
do
13, G67
4,494
2,254
2,098
156
746
436
310
13, 359
4,199
1,918
1,754
164
747
449
298
13, 570
4, 505
2,292
2, 124
168
727
416
311
14, 202
4,844
2,644
2,490
154
754
449
305
14, 026
4,769
2,548
2,388
160
790
468
322
14,410
4,871
2 617
2, 453
164
776
451
325
14, 140
5,000
2 738
2,572
167
773
443
330
14, 514
5,304
2 951
2,775
176
811
451
360
14, 437
5 211
2 802
2,628
174
768
442
326
- 14, 280
r
5 124
2 856
2, 695
161
r 744
424
'320
- 14, 424
r
5 154
- 2 871
-2,712
- 159
r 778
••448
'330
121
122
859
642
217
122
831
614
217
130
832
618
214
121
841
622
219
123
847
631
216
127
846
629
218
134
876
648
229
138
915
681
234
130
861
652
209
r 114
869
660
209
Nondurable-goods stores
__
__ _ do Apparel group
do
Men's and boys' wear stores
_ do _
Women's apparel, accessory stores
do
Family and other apparel stores
do
Shoe stores
do
Drug and proprietary stores
do
Eating and drinking places
do
9,173
881
210
350
183
138
390
1,070
9,160
894
206
360
188
140
395
1,067
9,065
870
212
345
170
143
384
1,048
9, 358
930
226
361
194
149
399
1, 063
9,257
897
216
358
177
146
398
1,051
9 539
987
232
389
206
160
411
1,091
9 140
891
210
342
193
146
414
1 087
9 211
883
210
346
188
138
412
1 075
9 225
916
209
355
204
148
397
1 101
9 156
865
199
348
185
132
405
1 082
r
Food group
. _-_ - _ _ _ _
do
Grocery stores
do _
Gasoline service stations
do
General-merchandise group
do
Department stores, excl. mail-order _ ^ do
Mail-order (catalog sales) _
- do
Variety stores
do
Other general-merchandise stores
do
Liquor stores
__
_ _ do
3,402
2, 7.50
833
1 535
831
118
252
334
274
3,346
2, 713
842
1 615
896
115
262
342
264
3, 398
2,768
847
1 517
838
107
247
325
268
3,419
2, 770
854
1 638
903
115
260
360
279
3,362
2. 735
875
1 586
884
111
239
352
256
3, 372
2 730
893
1 690
918
123
262
387
275
3,353
2 714
850
1 543
852
109
237
345
254
3 393
2 743
869
1 560
855
116
250
339
264
3 376
2 741
845
1 582
870
118
254
340
263
3 407
2 773
855
1 526
835
107
254
329
271
3 367
2 759
r 854
T i (528
'902
118
r
265
' 343
r
268
- do
do
__do
19, 209
8 621
10, 588
19, 279
8,314
10, 965
20, 434
8,739
11, 695
21, 564
9 125
12 439
22, 059
9 366
12,693
19, 544
8 838
10, 706
19 896
9 292
10 604
20 738
9 789
10 949
21 967
10 473
11 494
22 403
11 014
11 389
Adjusted total
- do
Durable-goods stores _ _
__do
Autom otive group
do
Furniture and appliance group __ _ do
Jewelry stores
do
Lumber, building, hardware group- _do
Other durable-goods stores
do
20 127
8, 749
2, 591
1,707
488
2,332
1 , 631
19, 745
8, 626
2,564
1,701
480
2,273
1,608
20, 281
8,956
2,875
1,693
486
2,233
1. 669
20 652
9 175
3, 093
1, 643
500
2,229
1 710
20 895
9,384
3, 212
1, 643
499
2,281
1,749
20 804
9, 352
3, 272
1, 639
490
2,208
1,743
20 814
9 539
3, 307
1, 659
496
2, 299
1, 778
20 973
9 905
3,457
1 662
491
2,449
1 846
21 096
10 084
3, 500
1 651
488
2, 565
1 880
11 378
2 714
790
2 080
3,358
2 43(5
11 119
2,700
765
2,001
3,276
2,377
11, 325
2,748
752
2,099
3, 351
2, 375
11 477
2 817
799
2 091
3 383
2 387
11 511
2 830
801
2,089
3,424
2,367
11 452
2, 790
717
2, 183
3,373
2,389
11 275
2, 703
760
2, 119
3,384
2,309
11 068
2 559
745
2 047
3,471
2 246
2 333
132
12
57
45
59
54
23
2, 504
143
11
63
48
60
54
26
2, 476
175
15
69
60
58
54
26
2 744
191
21
76
53
61
56
30
2,666
182
21
74
49
60
50
31
3, 457
293
35
119
80
87
55
39
2,285
132
15
51
38
60
50
20
618
284
719
326
735
346
856
396
835
366
1, 335
539
91
163
953
72
56
113
183
999
76
57
100
180
930
78
49
131
201
1 015
81
53
135
203
1,020
64
49
2,520
171
19
72
55
61
54
25
2 562
174
18
73
56
62
53
25
2 545
169
16
66
55
61
54
24
2 622
180
19
71
53
61
54
28
2 555
175
18
72
50
62
52
29
Jewelrv stores
do
Lumber, building, hardware group
do
Lumber, building-materials dealers _ _ do
Hardware stores
do
Estimated inventories:^
Unadjusted, total
Durable-Efoods stores
Nondurable-goods stores _
Nondurable-goods stores
Apparel group
Drug and proprietary stores
Food groupr
General-me chandise group
Other nondurable-goods stores
do
do _
do
do
- _ do
do
Firms with 11 or more storesrf
Estimated sales (unadjusted), total
do
Apparel group
- - do
Men's and boys' wear stores
do
Women's apparel, accessory stores _- do
Shoe stores
do
Drug and proprietary stores _ _.
_.do__
Eating and drinking places
do
Furniture homefurnishings stores
do
General-merchandise group
do
Department stores
do
Dry-goods, other g e n e r a l - m e r c h a n d i s e
stores
mil. of dol
Variety stores
_ __
_ do
Grocery stores
do
Lumber, building-materials dealers
do
Tire, battery, accessory stores _ _ _ _ do .
Estimated sales (adjusted) total
Apparel group
Men's and boys' wear stores
Women's apparel, accessory stores
Shoe stores
Drug and proprietary stores
Eating and drinking places _ _ _
Furniture, homefurnishings stores
__
do
do
do
do
do _
do
do
do
r 786
'441
-344
r
113
-848
633
-852
- 634
r 218
r 215
9 270
r
915
r
204
- 375
' 9 309
r
T
r 919
r
195
- 382
' 193
- 149
189
147
r 404
1 086
r 4Q2
r
1 086
r
r
r
r
3 394
2 785
868
r
14, 467
5 122
2 845
2,697
148
786
436
350
114
846
633
212
9 346
924
198
374
192
160
399
1 092
-898
r
116
r
?64
- 357
- 275
3 434
2 831
888
1 604
866
120
281
337
274
21 946
10 800
11 146
' 21 295
r 10 419
' 10 876
21 417
10 ^55
10 962
21 656
10 396
3, 676
1 706
492
2,584
1 938
21 543
10 252
3,592
1 703
482
2, 564
1 911
r 21 572
- 10 257
- 3. 657
r
1 669
503
2, 516
r
1 919
22 054
10 545
3, 922
1 719
497
2,475
1 932
11 012
2 506
710
2 053
3 497
2 246
11 260
2 576
732
2 060
3, 622
2 270
11 291
2 573
708
2 092
3 622
2 296
r 11 315
r
2 650
r
11 509
2 728
774
2 059
3 623
2 325
2 145
119
13
47
36
57
47
22
2 485
188
19
74
56
60
54
28
2 546
180
17
70
60
60
56
24
556
248
543
233
684
302
718
338
205
414
1, 056
53
75
83
142
1,039
51
43
78
144
939
47
41
103
172
999
54
49
104
183
1,013
62
54
2,638
195
20
80
56
62
52
22
2 506
167
16
68
49
63
51
27
2 570
'l68
18
66
52
62
52
27
2 591
171
18
64
55
61
53
31
2 579
171
17
69
51
63
56
26
r
2 604
r I
r
r
r
r 180
r
r
r
r
T
751
2 040
3, 560
2 314
2 576
- 178
r 17
17
r
r
72
68
62
62
' 59
- 26
58
62
58
r
30
r
f 34
747
376
- 750
T
362
654
308
92
172
1, 038
66
57
' 102
- 108
- 1, 050
- 63
56
- 1,015
- 68
60
T
r
r 184
2 586
r 177
18
2 453
140
11
58
50
63
62
22
2 618
' 174
17
r 70
r
- 57
- 64
- 57
30
'r 56
64
' 59
-26
69
2 641
177
17
72
60
64
60
24
745
735
769
756
729
817
783
-778
••795
727
757
729
787
General-merchandise group
do. _
r
343
377
351
359
345
345
328
357
323
325
-356
326
361
Department stores
do
Dry-goods, other g e n e r a l - m e r c h a n d i s e
112
114
145
119
- 112
' 108
101
98
102
119
120
101
106
stores
mil. of dol 200
190
189
-201
187
189
181
199
210
204
204
209
193
Variety stores
do
- 992
1,018
1, 050
1,000
1,004
995
1,013
1,009
- 1, 030
1,003
1,009
984
985
Grocery stores
do
r
64
69
64
CO
69
64
63
62
66
- 61
62
68
60
Lumber building-materials dealers
do
58
54
61
53
57
52
52
60
52
47
'51
50
50
Tire, batterv. accessorv stores.- _ _ _ _do_ __
r
Revised.
fRevised series; see note marked "t" on p. S-8.
cfData represent new estimates adjusted for comparability with the new series of retail sales, For the new estimates for December 1950 and the entire year 1951 and for revisions of the old
series (1949-51), see pp. 14 ff. of the November 1952 SURVEY.
SURVEY OF CURRENT BUSINESS
S-10
Unless otherwise stated, statistics through
1950 and descriptive notes are shown in the
1951 Statistical Supplement to the Survey
September 1953
1952
August
July
September
1953
October
November
December
January
February
March
April
June
May
July
DOMESTIC TRADE— Continued
RETAIL TRADE—Continued
Department stores:
Accounts receivable, end of month :]
Charge accounts
1947-49=100..
Instalment accounts
_
do
Eatio of collections to accounts receivable:
Chargfi acnrnmts
_..__,.
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.f
Atlanta
_ _
Boston _
Chicago
___
Cleveland
Dallas
__
Kansas City _
__
Minneapolis
New York. __ _
Philadelphia
Richmond..
St. Louis
San Francisco
1947-49=100
do
do
.do
do
do
__
do
do
do
do
do
do
do
Sales, adjusted, total U. S.f
Atlanta
Boston _
Chicago
Cleveland-.. _
Dallas
Kansas City
Minneapolis _
__
New York
Philadelphia
Richmond
St. Louis
San Francisco
Stocks, total U. S., end of month:f
Unadjusted
Adjusted
_
_
do
do
do__
do
do _
do
do
do
do
do
do
do
do
do
do
Mail-order and store sales:
Total sales, 2 companies
thous. of dol..
Montgomery Ward & Co__ _ _
do
Sears, Roebuck & Co
do_ __
Rural sales of general merchandise:
Total U. S., unadjusted
1935-39=100
East
do
South
do
Middle West
do
Far West
_
do
Total U. S., adjusted.
do
East
_
do .
South
_do
Middle West _ „
do __
Far West
,
do
107
177
108
180
118
190
128
201
138
211
183
231
147
226
126
224
123
222
122
220
124
220
123
219
214
46
17
46
17
47
18
50
18
48
17
48
17
47
17
44
15
49
17
46
15
46
15
47
15
46
15
48
41
11
48
41
11
46
43
11
46
43
11
47
42
11
49
42
9
47
42
11
47
42
11
46
43
11
47
43
10
47
43
10
47
43
10
47
42
11
84
96
73
82
82
104
93
84
'70
76
'90
'84
96
98
115
83
97
99
114
110
103
'78
'87
' 102
' 102
112
'113
126
111
110
110
128
115
108
' 102
110
124
115
116
' 120
132
111
116
119
134
120
124
'113
120
'132
' 126
'118
' 134
145
127
129
139
145
132
120
' 127
143
142
' 134
136
' 196
221
193
186
194
215
196
175
'181
'194
214
r
189
'208
85
97
'83
'83
87
101
86
74
'80
82
'83
'83
91
' 88
'102
80
'85
89
101
91
80
'81
85
89
'89
94
103
124
95
101
107
117
103
92
'93
106
'110
' 104
102
104
117
101
104
103
117
106
97
'95
103
111
105
105
' 115
131
106
114
115
127
115
107
'101
' 118
128
'118
117
'108
114
103
110
111
118
111
'98
'98
' 105
112
' 110
'112
P89
^102
P76
P89
*>89
P104
"91
*>84
"75
"83
*>96
*>86
PlOl
' 107
108
123
104
104
106
120
108
98
'98
105
'117
'108
114
115
' 129
' 111
'112
' 115
128
r
114
'r 108
107
'112
'126
' 115
118
' 111
128
105
'107
113
' 128
' 115
' 100
109
' 116
' 113
' 117
115
'129
' 107
'114
117
' 128
' 118
110
' 103
111
r
123
' 115
' 117
111
' 126
' 105
107
'113
' 127
114
' 103
'100
' 108
'113
108
116
' 112
124
106
' 110
115
125
' 115
' 105
' 100
' 112
117
' 113
'116
'115
128
'105
114
116
'126
114
' 108
'103
112
'124
' 118
'119
110
' 118
'106
'110
105
'124
'112
'99
'102
'113
'117
' 111
'116
' 117
'134
'106
114
' 115
'131
115
'107
' 104
'119
'129
'118
' 124
-115
' 128
103
112
118
134
'118
' 106
'101
' 110
119
' 122
'121
'112
P 127
P106
P 110
*114
P 124
P 111
P 105
P103
p 117
* 120
P 107
P 117
'137
' 122
' 107
'120
111
123
119
' 123
127
' 122
132
' 125
132
'127
'123
' 128
P121
P130
120
' 112
131
' 102
* 104
'101
105
124
114
104
'98
107
112
104
111
' 108
113
' 126
'118
' 108
' 103
'110
'120
'112
116
r
104
114
111
119
114
118
124
120
134
'121
304, 313
82, 995
221,318
351, 558
101, 150
250, 409
373, 724
102, 462
271, 262
418, 732
118,142
300, 590
391, 569
108, 525
283, 045
546, 465
155, 594
390, 870
268, 261
62, 778
205, 483
258, 518
62, 171
196, 347
327, 550
87,515
240, 036
345, 223
90, 564
254, 659
384, 048
95, 059
288, 989
380, 397
92, 804
287, 593
316, 298
78, 977
237, 320
249.5
215.6
270.5
234.6
313.6
336.3
304.5
387.0
314.1
384.3
315.6
280.7
330.8
295. 3
396.2
342.3
320.1
368.4
318.9
404.3
344.5
299.7
390.4
316.8
415.6
311.5
289.0
343.1
294.4
363.3
378.3
356. 9
445. 0
366.8
410.8
316.3
310.3
348.2
312.2
365.5
432.6
441.5
478.2
393.7
500. 3
333. 8
310.5
347.0
299.6
399.0
554. 4
502. 9
585.8
527.9
662.3
371.8
330.8
411.7
351.5
418.4
253. 7
238.6
281.0
237.2
286.3
335.1
314.8
351.2
316.3
389.0
254'. 3
308.1
254.7
301.9
331.8
306.4
354.1
318.4
404.1
322.5
316.3
349.5
312.1
352. 3
347. 9
326.0
379.9
327.8
404.9
293.6
265.8
313.3
274.9
340.2
313.3
285.8
348.9
287.6
371.8
308. 3
294. 1
320.3
292.9
339.7
343.7
327.5
386. 4
330.6
379.1
316.8
281.7
334.8
309.9
369.1
355.2
313.0
385.3
338.3
394.8
216.6
228.4
269.1
250.9
349.5
353.9
322.6
385.0
335.9
428.3
8,596
2,718
5,878
9,665
4,809
4,856
8,699
2, 646
6, 053
9,735
4,814
4,921
9,523
2,983
6,540
9,925
4,824
5,101
10, 389
3,254
7,135
10, 177
4, 790
5,387
9,481
2,797
6,684
10, 202
4, 860
5,342
9, 765
2,853
6,912
9, 965
4,878
5.087
8,593
2,457
6,136
10, 111
5,099
5.012
8,195
2,619
5,576
10, 255
5,325
4,930
8,866
2,910
5,956
10, 434
5,547
4,887
8,545
3,009
5,536
10, 376
5,569
4,807
8,232
2,823
5,409
10, 354
5,574
4,780
' 8, 656
2,975
' 5, 681
' 10,311
' 5, 444
4,867
8,909
2,902
6,007
10, 258
5,415
4,843
WHOLESALE TRADEJ
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
EMPLOYMENT AND POPULATION
POPULATION
Population, continental United States:
Total, incl. armed forces overseas
thousands..
156, 981
157, 234
157, 505
157, 768
158,012
158, 233
158, 448
158, 657
158, 848
159,068
159, 260
159, 473
159, 696
109, 692
51, 948
57, 744
109, 804
52, 000
57, 804
109, 906
52, 040
57 866
110,074
52, 144
57, 930
110, 198
52, 208
57 990
110,315
52, 265
58 050
i 110, 648
52 502
58 146
110, 936
52, 698
58 238
111.210
52 886
58 324
111, Q300
52 32
58 368
111, 398
52 974
58 424
111,476
52 996
58 480
111, 542
53 006
58 536
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.
Employed
Male
„
Female
__
_
_
Agricultural employment
Nonagricultural employment
Unemployed
Not in labor force
do
do
do
44, 720
19, 456
64, 176
63, 958
44 396
19, 562
63,698
43 468
20 230
63, 146
43 196
19, 950
63 646
43 218
20 428
62 921
43 240
19 681
62 416
43 334
19 082
62 712
43 692
19 020
63 134
43 892
19 242
62 810
43 898
18 912
59 904
43 848
19 116
64 734
44 869
19 872
64 668
4^ 9fin
19 408
do
do
do
62, 234
43, 476
18 758
62 354
43 392
18 962
62 260
42 604
19 656
61 862
42 482
19 380
62 228
42 404
19 824
61 509
42 275
19 234
60 524
41 974
18 550
60 924
42 448
18 476
61 460
42 784
18 676
61 228
42 794
18 434
61 658
42 950
18 708
63 172
43' 838
fiQ 1 9fi
44 93 fi
do
do
do
7,598
54, 636
1 942
6, 964
55, 390
1 604
7,548
54, 712
1 438
7,274
54, 588
1 284
6,774
55, 454
1 418
5,697
55, 812
1 412
i 5, 452
i 55, 072
i ^ §92
5,366
55, 558
1 788
5,720
55, 740
1 674
6,070
55, 158
1 582
6,390
55, 268
i one
7,926
55, 246
i rfio
7,628
55, 492
do
45, 516
45. 846
46. 208
46. 928
46. 552
47. 394
1 48. 232
48. 224
48 07fi
48 4QO
48 424
4fi 740
AK C7/I
1Q 234
•[Revised series. Data have been revised to reflect use of new base period and to incorporate other major changes. Additional revisions in the sales and stock indexes appearing in this
issue of the SURVEY (extending back to 1946 in some instances) result from changes in seasonal factors and minor adjustments in the sample from which the unadjusted indexes are constructed
Revisions back to 1919 for sales and stocks will be shown later. Published revisions for accounts receivable for 1941-51 appear on p. 32 of the July 1952 SURVEY.
{Data on total wholesale trade have been substituted for the series on service and limited-function wholesalers. For annual sales, 1939-48, and end-of-year inventories 1938-48 see p 24 of
the October 1951 SURVEY; revisions beginning 1949 appear on pp. 16 n. of the October 1952 SURVEY.
cfSee note at bottom of p. S-ll.
'
'
SURVEY OF CURRENT BUSINESS
September 1953
Unless otherwise stated, statistics through
1950 and descriptive notes are shown in the
1951 Statistical Supplement to the Survey
S-ll
1952
August j SePt--
July
1953
October
November
December
January
February
March
April
May
June
July
EMPLOYMENT AND POPULATION— Continued
EMPLOYMENT— Continued
Employees in nonagricultural establishments.-J
Total, unadjusted (U. S. Dept. of Labor)
thousands..
Manufacturing
do
Durable-goods industries
__.do
Nondurable-goods industries
do
Mining, total
„ _ _ _ -do
Metal
do
Anthracite
do
Bituminous coal
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
' 48, 860 '49,039 ' 49, 372
' 17, 077 ' 17, 050 ' 17, 155
10, 108 ' 10, 124
••10,117
' 6, 960 ' 6, 942 ' 7, 031
'837
'831
••835
101
'100
'ioo
57
55
51
'299
300
'310
47, 078
15, 402
8,530
6,872
784
69
61
267
48, 158
16, 280
9,142
7,138
893
103
63
340
48, 892
16, 680
9,440
7,240
886
100
63
339
49, 095
16, 778
9,594
7,184
871
99
63
330
49, 310
16, 874
9,750
7,124
871
101
62
331
50, 140
16, 952
9,856
7,096
870
102
62
331
48, 382
16. 884
9,880
7.004
866
102
61
331
48, 369
17, 013
9,989
7,024
856
101
60
325
48, 685
17, 135
10, 103
7,032
846
100
57
318
283
104
2,751
4,198
1,353
134
682
48
553
281
106
2,812
4,258
1,394
134
688
48
554
280
106
2,794
4,281
1,411
133
682
48
548
274
106
2,728
4,296
1,423
132
682
49
543
272
105
2.648
4,286
1,413
132
684
49
539
273
102
2,497
4,293
1,406
132
687
49
541
275
98
2,303
4,210
1,368
126
685
49
541
272
98
2,280
4,210
1,356
132
689
48
541
271
99
2,301
4,235
1,361
131
694
48
543
Wholesale and retail trade
do
Wholesale trade
do
Retail trade
do
General-merchandise storesdo __
Food and liquor stores
_ do
Automotive and accessories dealers~.-do
Finance, insurance, and real estate _ _ _do
Service and miscellaneous
do
Hotels and lodging places
do _ _
Laundries
do
Cleaning and dyeing plants
_ _ do
Government
do
10, 108
2.709
7,399
1,332
1,349
785
1,997
5,382
546
351
174
6,456
10,110
2,722
7,388
1,325
1,345
782
2,000
5,378
546
349
169
6,427
10, 295
2,730
7,565
1,424
1,356
778
1, 976
5,364
494
344
174
6,616
10. 442
2,752
7,690
1,505
1, 376
785
1, 973
5, 303
456
344
177
6,704
10, 650
2,780
7.870
1,626
1,382
801
1,973
5,266
446
342
175
6,742
11,218
2,787
8,431
2,013
1,407
815
1,978
5,237
447
342
173
7,095
10, 283
2,747
7,536
1,407
1,371
808
1,969
5,192
443
342
172
6,675
10, 214
2,743
7,471
T
1, 355
1,381
810
1.977
5,194
451
340
172
6,625
10, 284
2,730
7,554
1,396
1,389
813
1,993
5,225
456
340
175
6,666
r
Total, adjusted (Federal Reserve)
_ _ do
Manufacturing
do_ __
Mining
_
_ do
Contract construction....
do
:
Transportation and public utilities
__ do
Wholesale and retail trade
do
Finance, insurance, and real estate
__ do
Service and miscellaneous
_
do. _.
Government
_ do
47, 336
15. 609
777
2,595
4, 154
10, 273
1,967
5,302
6.659
48, 039
16, 151
883
2, 604
4,209
10, 261
1,980
5,299
6,652
48, 406
16.412
880
2,611
4, 259
10, 333
1,986
5,285
6,640
48, 664
16, 546
867
2, 574
4,303
10, 390
1,993
5,303
6,688
48, 857
.16, 755
870
2,571
4,293
10, 366
1,993
5, 292
6, 717
48, 957
16, 870
871
2,548
4,281
10, 397
1,988
5,290
6,712
49, 014
16, 949
872
2,531
4,246
10, 437
1,989
5,298
6, 692
49, 113
17, 039
867
2, 562
4,261
10, 445
1,987
5,300
6, 652
49, 148
17, 168
854
2,529
4,272
10, 390
1,993
5,305
6,637
49, 282 ' 49, 443 v 49, 673
' 49, 154
' 17, 229 17, 290 '17,312 v 17, 362
'833
'833
'838
P820
' 2, 517 ' 2, 467 ' 2, 485
2,525
' 4, 266 ' 4, 283 ' 4, 279
4,298
' 10, 402 ' 10, 455 ' 10, 507 v 10, 518
2,016
' 2, 030
' 2, 004
2,044
'5,315
' 5, 307 ' 5, 301
5, 333
' 6, 682
6, 637
6,591
6,773
12, 229
6,748
126
13,069
7,332
129
13, 477
7,634
132
13. 560
7,774
132
13, 634
7,916
134
13, 699
8,010
137
13, 619
8,020
139
13, 733
8,115
142
13, 831
8,211
147
' 13, 758 ' 13, 717
' 8, 215 ' 8, 198
'156
' 150
' 13, 788
' 8, 199
'158
P 13, 731
p 8, 105
P164
744
439
296
434
759
450
307
451
751
448
316
455
728
440
322
459
730
433
329
461
704
420
330
458
676
406
329
451
677
404
332
453
688
408
333
459
'701
'416
'329
'462
'713
'424
322
'460
'729
431
'317
'465
P719
80
643
83
1,068
87
1,109
87
1,116
88
1,126
87
1,137
87
1, 139
88
1, 142
90
1,145
91
1, 144
' 90
1,138
92
1,143
132
530
556
557
557
561
562
563
'564
'562
'561
566
42
43
42
41
41
41
41
42
42
42
43
44
768
821
862
888
903
922
931
942
952
'952
952
'958
107
1, 218
755
1,190
515
476
137
51
219
354
115
1,193
782
1,221
524
490
137
59
226
375
121
1,208
824
1,355
674
474
138
58
230
393
124
1,227
851
1,411
701
501
137
59
234
408
125
1,260
872
1.450
735
510
137
56
237
415
125
1,301
893
1,484
750
524
140
58
240
404
122
1,313
899
1,509
769
531
139
58
241
393
124
1,323
916
1,543
798
538
137
59
241
404
124
1,335
925
1,574
821
542
137
63
244
410
125
'1,321
926
'1,576
'831
' 533
'139
'62
244
'411
'123
' 1, 303
'921
' 1, 576
'834
'534
'135
'61
244
413
124
' 1, 299
'913
' 1, 557
814
533
135
63
'245
'416
5,481
1,199
244
96
234
188
148
85
1,067
489
215
5,737
1,269
242
93
309
186
145
109
1,105
498
228
5, 843
1,309
247
87
348
186
137
117
1,127
501
232
5,786
1,223
244
83
253
187
134
117
1, 135
503
236
5,718
1,142
254
80
172
187
132
109
1,146
506
239
5,689
1,093
256
78
143
184
129
108
1,146
508
236
5,599
1,045
249
76
132
179
124
101
1,132
502
230
5,618
1, 033
241
78
129
180
122
94
1, 134
502
232
5,620
1, 025
238
80
123
180
125
87
1,134
499
235
' 5, 543
' 1, 027
'233
83
'134
'179
127
85
'1,119
'494
233
' 5, 519
' 1, 052
'234
87
' 145
'180
132
85
'1,113
'494
232
' 5, 589
' 1, 089
237
93
160
182
132
85
'1,119
496
232
P 5, 626
p 1,183
1.018
112
1,088
122
1,106
124
1,103
123
1,104
122
1,114
121
1,109
119
1,137
124
1, 139
126
' 1, 086
'124
' 1, 061
'125
1,076
127
P 1, 044
260
••331
411
215
271
339
425
222
276
340
425
217
279
330
432
219
280
331
435
219
280
347
441
224
279
351
436
223
284
360
437
223
289
356
439
223
'289
'318
440
222
289
'298
'440
222
289
308
'445
225
P443
4^0
145
490
144
497
146
504
146
505
147
505
147
498
144
497
144
499
146
'498
' 146
499
147
502
148
P501
Production workers in manufacturing industries:!
Total (U S Dept. of Labor)
_ _ thousands.Durable-goods industries
do
Ordnance and accessories
do
Lumber and wood products (except furniture)
thousands. _
Sawmills and planing mills
do
Furniture and fixtures .
__ do __
Stone, clay, and glass products
do
Glass arid glassware, pressed or blown
thousands ..
Primary metal industries ___
do
Blast furnaces, steel works, and rolling
Primary smelting and refining of nonferFabricated metal prod, (except ordnance, machinery, transportation equipment)
thousands. _
Heating apparatus (except electrical) and
Machinery (except electrical)
_. do
Electrical machinery
_
_ _ do
Transportation equipment
do
Automobiles..
do ..
Aircraft and parts. ..I.
do
Ship and boat building and repairs-. -do
Instruments and related products
Miscellaneous mfg. industries
Nondurable-goods industries
Food and kindred products
Meat products ...
Dairy products.
Canning and preserving
do
do ...
do
do
do ._
do
do...
Beverages
do
Tobacco manufactures..
do _
Textile-mill products.___do_ — .
Broad-woven fabric mills
do
Knitting mills
do
Apparel and other finished textile products
thousands
Men's and boys' suits and coats
do
Men's and boys' furnishings and work
clothing
thousands
Paper and allied products
.
..do
Pulp, paper, and paperboard mills.. .do
Printing, publishing, and allied industries
thousands. _
Newsnaners
do
272
102
'2,406
'4,244
'1,376
131
682
48
'542
271
103
' 2, 492
' 4, 280
' 1, 388
130
697
49
'544
277
'106
' 2, 584
'4, 312
1,399
131
700
49
552
v 49, 371
v 17, 125
v 10, 047
p 7, 078
P828
PlOl
P290
P106
P 2, 676
P 4, 345
10, 314 ' 10, 337 ' 10, 401 * 10, 349
2,725
'2,713
' 2, 710
v 2, 742
7,676
' 7, 601 ' 7, 627
P 7, 607
1,397
'r 1, 397 ' 1, 400
* 1,359
1,408
1,398
P 1, 404
' 1, 401
r
'839
820
'829
P848
2,050
' 2, 014
P 2, 075
2,026
5,395
' 5, 307 ' 5, 354
v 5, 413
495
'464
'468
354
'344
'349
186
181
184
' 6, 638 P Q, 560
6,653
6,669
r
P314
P455
P 1, 133
P939
p 1, 276
P880
P 1, 574
P245
*>406
P87
P 1, 100
r
Revised.
p Preliminary.
{Beginning with the June 1953 SURVEY, data for employment and hours and earnings have been revised (beginning 1947) to adjust to a first quarter 1951 benchmark and to incorporate more
detailed weighting procedures primarily in the manufacturing division. Also, the hourly earnings figures have been recalculated, beginning 1951, using as weights (for industry divisions and
groups) figures rounded to the nearest cent instead of the nearest mill. Revised data beginning 1947 are available from the compiling agency.
NOTE FOR EMPLOYMENT SERIES, P. S-10. Beginning January 1953, estimates are based on the 1950 census; unrevised estimates for January consistent with the 1940 census and
comparable with data through December 1952 are as follows (thous.): Civilian noninstitutional population—total, 110,450: male 52,345; labor force—total, 62,294; male, 43,213; employed—total,
60,406- male, 41,892* agricultural, 5,443; nonasricultural, 54,963; unemployed, 1,888; not in labor force, 48,156 (data for employment and unemployment estimated by OBE). The overall increase
in the level of the labor force (roughly 400,000 for the total; 150,000 for nonagricultural; 250,000 for agricultural) is not fully reflected in the January figures, but is spread over the 3-month period,
January-March 1953. Appropriate allowances should be made in comparing the estimates beginning 1953 with those for earlier periods.
SURVEY OF CURRENT BUSINESS
S-12
Unless otherwise stated, statistics through
1950 and descriptive notes are shown in the
1951 Statistical Supplement to the Survey
September 1953
1952
July
August
September
1953
October
November
December
January
February
March
April
May
June
July
EMPLOYMENT AND POPULATION— Continued
BMP LO YM ENT—Continued
Production workers in mfg. industries f — 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
501
184
177
144
195
90
338
221
503
185
191
146
203
89
355
233
512
185
190
145
208
90
353
229
518
187
189
144
213
90
352
225
518
188
188
144
217
91
355
226
518
189
187
144
219
92
359
232
516
190
186
144
219
92
359
236
519
189
186
144
219
91
364
238
Manufacturing production-worker employment
index, unadjusted (U. S. Dept. of Labor) t
1947-49=100.Manufacturing production-worker employment
index, adjusted (Federal Reserve) t- 1947-49=100.-
98.9
105.7
109.0
109.6
110.2
110.8
110.1
100.6
104.7
106.8
107.8
109.2
110.0
110.6
341, 207
149, 194
131, 788
344, 947
151,418
132, 378
334,323
149, 271
126, 444
315, 261
138, 599
121,337
284, 896
109, 889
119, 630
250. 904
77, 795
117, 558
2,422
252
2,409
249
2,390
247
2,386
247
2,383
246
1,214
1,256
1,272
1,285
116.0
113.5
119.7
117.2
121.3
118.4
122.5
118.5
122.2
134.2
143.3
39.9
40.2
42.3
40.5
41.0
41.0
40.9
40.4
40.4
40.3
38.4
39.4
Miscellaneous employment data:
Federal and State highways, total §
number-Construction (Federal and State)
do
Maintenance (State)
do
Federal civilian employees:
United States _ .
thousands. _
Washington, D. C., metropolitan area.cf.do-..
Railway employees (class I steam railways):
Total
-_ _ __ _ _ thousands
Indexes:
Unadjusted
.
1935-39=100
Adjusted
do
526
190
186
144
221
92
363
238
526
191
188
144
'221
92
355
232
516
192
188
144
'221
93
'344
'226
'513
195
'190
145
221
93
'350
229
111.0
111.8
rill. 3
110.9
'111.5
p 111.0
111.2
112.0
112.4
112.7
' 112.7
f 113.0
239, 117
66, 668
116,321
233, 697
65,912
112, 723
240, 604
71,537
112,856
2,378
245
2, 370
245
2,363
244
2,344
241
2,324
238
2,302
235
1,274
1, 260
1,229
1,219
1,223
1,239
1,251
' 1, 263
121.4
120.3
119.8
121.7
117.1
121.8
116.1
119.0
116.5
119.4
118.1
120.0
119.3
119.8
* 120, 4
» 118.7
p 121.4
P118.9
145.7
146.3
150.9
148.4
149.3
151.9
' 150. 0
'150.0
' 150. 8
p 149. 9
41.2
41.9
42.7
41.4
42.2
42.3
41.1
41.9
41.0
41.7
42.5
41.7
41.0
41.8
41.0
40.9
41.7
41.6
41.1
41.9
41.2
40.8
41.6
'40.7
40.7
41.5
41.4
40.7
'41.4
'41.0
P40.4
Ml.O
P40.0
42.0
41.6
41.4
41.2
40.2
40.4
41.5
41.3
42.1
41.4
39.7
41.1
41.9
41.7
42.5
42.1
40.7
41.3
41.2
41.1
42.1
41.3
39.9
41.4
41.4
41.0
42.8
41.5
40.7
41.8
40.7
40.3
41.4
40.6
39.6
41.7
41.0
40.6
41.5
41.0
39.9
41.4
40.9
40.4
41.6
41.3
40.6
41.7
'41.0
'40.7
Ml. 3
'41.1
'39.7
'41.2
'40.7
'40.4
' 41.0
'41.2
'39.8
'41.4
'41.4
41.3
'41.1
'41.1
39.9
'41.5
Ml. 6
37.7
40.3
40.9
40.6
41.1
41.0
41.4
40.9
40.9
'40.3
'41.1
41.2
41.9
41.6
41.7
41.4
41.6
41.8
41.9
41.7
41.7
'41.6
41.6
41.4
43.3
42.4
42.2
42.4
42.2
'42.1
'42.0
J-511
p 193
*>218
p347
259, 370 ' 280, 496 •» 302, 612
91,151 ' 110,780 r> 121, 624
114, 107 P 120, 212
112, 583
' 2, 285
234
v 2, 268
p 230
1,172
PAYROLLS
Manufacturing production-worker payroll index,
unadjusted (U. S. Dept. of Labor) f. 1947-49=100.,
LABOR CONDITIONS
Average weekly hours per worker (U. S. Dept. of
Labor) :J
All manufacturing industries
hours.Durable-goods industries
do
Ordnance and accessories
_ _ _ do
Lumber and wood products (except furniture)
hours
Sawmills and planing mills
do
Furniture and
fixtures
_
do
Stone, clay, and glass products.
do
Glass and glassware, pressed or blown.do
Primary metal industries
do
Blast furnaces, steel works, and rolling
mills
hours
Primary smelting and refining of nonferrous
metals
hours
Fabricated metal prod, (except ordnance, machinery, transportation equipment) .hours.
Heating apparatus (except electrical) and
plumbers' supplies
hours
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
-
do
do
-
Da irv nrodnrts
Canning and preserving
Bakery products
Beverages
Tobacco manufactures
Textile-mill products
Broad-woven fabric mills
Knitting mills
do
-
-
do
do
do
do
do
do
do
P 41.4
39.8
40.8
42.1
42.5
42.4
39.6
41.5
39.7
39.4
35.9
42.6
40.4
40.7
40.7
39.6
40.7
42.0
40.7
40.3
38.4
42.3
40.3
40.3
41.4
40.7
41.7
42.7
41.6
42.2
41.8
43.6
40.4
39.8
42.2
41.6
42.2
42.7
41.7
42.6
43.1
43.0
39.4
40.0
42.4
42.1
41.2
42.6
41.6
41.9
41.9
43.1
37.8
40.0
42.5
42.0
42.1
43.5
42.1
42.7
42. 4
43.9
40.2
41.6
42.8
42.3
40.5
43.0
41.7
41.9
41.4
43.3
39.6
40.7
41.8
41.4
41.0
42.8
41.2
41.8
41.7
43.0
38.3
40.6
41.7
41.1
41.0
43.1
41.5
41.7
41.8
42.3
39.2
40.5
41.9
41.5
'40.7
42.8
'41.3
'41.6
'41.9
42.0
'39.7
'40.2
'41.2
'41.3
40.5
42.5
'40.8
'41.5
'41.7
41.8
39.7
'39.5
41.6
'41.1
40.0
'42.3
'40.7
'41.1
'41.2
41.3
39.5
40.3
' 41. 6I
'41.0 i
39.4
42.0
41.0
45.0
40.5
41.9
43.7
38.0
38.5
38.1
38.0
39.9
41.4
40.5
44.0
40.0
41.9
41.8
39.2
39.7
39.3
39.0
40.3
42.3
41.5
44.4
42.5
41.8
41.4
40.3
40.2
40. 1
39.3
40.3
41.8
41.9
43.4
40.7
41.6
40.8
40.4
40.5
40.6
39.9
40.1
41.7
43.4
43.5
36.2
41.5
41.2
38.5
40.4
40. 5
39.8
40.5
42.1
44.4
43.6
37.7
41.3
40.9
39.2
40.8
41.0
39.1
39.8
41.1
41.7
43.8
38.2
40.9
40.3
38.5
40.1
40.4
38.0
39.8
40.7
40.0
43.9
38.0
41.2
40.4
36.9
40.1
40.2
38.5
40.0
40 8
40.3
43.4
37.6
41.6
40.2
37.8
40.0
40.0
38.7
39.5
'40.4
39.9
'43.2
36.6
41.2
40.6
'37.2
' 39. 3
'39.7
37.3
39.5
40.9
40.4
'44.3
'37.4
' 41.2
'41.5
37.0
'39.4
40.1
37.1
39.6
p 39. 5
'41.4 ;
p 41. 7
41.1
44.9
37.7
..
41.7 i__
42.6
'36.9
P36.7
'39.6
p39. 0
40.0
37.3
Apparel and other finished textile products
37.3
36.7
37.2
37.7
37.3
37.2
37.2
37.1
35.8
'37.0
hours. 36.4
37.7
35.8
38.9
36.8
36.2
36.1
36.7
33.7
'37.6
Mien's and boys' suits and coats
do
Men's and boys' furnishings and work
37.9
38.4
37.3
38.4
38.8
39.0
38.2
36.9
38.0
'37.8
clothing
hours
36.4
35.9
36.3
36.2
35.2
34.7
35.5
36.0
34.8
'36.0
"Women's outerwear
do
43.0
43.1
43.3
44.0
43.8
43.8
43.5
43.1
42.4
43.0
Paper and allied products
do
43.9
44.0
44.4
44.5
44.2
44.0
43.6
43.4
'44.1
44.0
Pulp, paper, and paperboard mills. . .do
Printing, publishing, and allied industries
38.6
39.1
38.7
39.5
39.0
39.0
39.3
'38.9
38.9
38.6
hours. .
35.7
36.0
35.4
37.1
36.3
36.4
36.1
36.4
36. 5
36.1
Newspapers
do
39.9
40.4
40.2
40.5
40.8
40.4
'40.2
40.5
40.3
40.3
Commercial printing
do
41.3
41.5
41.2
41.7
41.5
41.7
41.3
40.9
40.7
41.5
Chemicals and allied products
. _ do
40.3
40.8
40.7
41.2
41.3
41.0
40.7
40.6
40.4
'40.9
Industrial organic chemicals
do
40.3
40.5
40.6
40.6
40.9
40.9
41.2
40.9
40.5
41.4
Products of petroleum and coal
do
40.4
40.1
40.5
40.5
40.2
40.7
40.2
40.5
'40.3
40.8
Petroleum refining
do
41.3
41.9
41.1
41.6
41.1
41.5
41.1
'41.1
40.6
39.6
Rubber products
-do _ _
40.2
40.8
41.7
41.1
40.2
40.7
40.7
40.5
39.8
'40.7
Tires and inner tubes
do
39.4
39.3
39.3
39.6
37.6
38.2
38.5
39.6
38.5
'37.8
Leather and leather products
- do
39.1
39.4
39.3
39.3
37.2
36.3
'37.2
38.3
38.1
39.7
"Footwear (p.THfint rubber)
do
' Revised.
p Preliminary.
JSee note marked "J" on p. S-ll.
tRevised series. Indexes have been shifted to new base period; monthly data for 1919-46 are shown on pp. 19 and 20 of the October 1952 SURVEY; monthly data
to the latest benchmark, are available from the compiling agency.
§Total includes State engineering, supervisory, and administrative employees not shown separately.
cfData beginning March 1952 have been revised to include estimated totals for the Postal field service in Maryland and Virginia segments of the metropolitan
ary 1952 cover only the employees in the headquarters office of the Post Office Department and the Washington, D. C., city post office.
P40.2
Ml.O
Ml. 6
Ml. 9
p39. 7
P40.6
p 40. 6
P 40. 2
36.6
37.7
'36.4
37.2
P36. 1
'37.6
'35.2
42.9
44.0
37.6
34.6
'43.0
44.1
P42.8
38.9
36.7
39.9
41.4
40.9
'40.8
40.3
'40.4
'40.5
37.4
36.7
' 38. 8
36.6
40.0
'41.3
41.0
'40.8
40.5
40.3
40.0
38.3
37.9
P38. 7
Ml.l
Ml. 4
MO. 8
P37.9
for 1947-52, revised to adjust
area; figures through Febru-
SUIIVEY OF CURRENT BUSINESS
September 1953
Unless otherwise stated, statistics through
1950 and descriptive notes are shown in the
1951 Statistical Supplement to the Survey
S-13
1953
1952
July
August
September
October
November
December
January
February
March
April
May
July
June
EMPLOYMENT AND POPULATION—Continued
LABOR CONDITIONS—Continued
Average weekly hours per worker, etc. }— Con.
Nonmanufacturing industries:
Mining:
Metal
hours
Anthracite
do
Bituminous coal
do
Crude-petroleum and natural-gas production:
Petroleum and natural-gas production
hours
Nonrnetallic 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
Telegranhf
do
Gas and electric utilities
do
Wholesale and retail trade:
Wholesale trade
do
Retail trade (except eating and drinking
places)
hours
General-merchandise stores
do
Food and liquor stores
do
Automotive and accessories dealers
do
Service and miscellaneous:
Hotels, year-round
do
Laundries
__
do
Cleaning and dyeing plants
do
Industrial disputes (strikes and lock-outs):
Beginning in month:
Work stoppages
number
Workers involved
thousands
In effect during month:
W ork stonpages
__
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 (State laws) :
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
Amount of payments
._
_. _ thous. of dol _
Labor turnover in manufacturing establishments:
Accession rate. __ monthly rate per 100 employees. _
Separation rate, total ._
... _
_do _.
Discharge
do
Lay-off.
___ _ ... . _. do
Quit
_. do
Military and miscellaneous
do
M3. 6
30.8
r
34. 2
43.7
37.2
36.2
41 0
44.9
37. 8
MO.O
r
37 2
40.0
45.3
38.5
41.6
37.7
38.3
41.6
'41. 1
45 7
38.7
42.4
41.2
45.8
38.9
42.0
41.6
40.4
40.3
MO. 3
40.4
39.2
34.7
38.9
45.0
39.1
r
34 8
'38.8
44.9
39.1
r
34. 7
r
3S. 6
45.1
39.4
35. 5
39.2
45.0
42.3
40.5
39.4
42.1
40.6
40.2
M2 5
40.8
r
40 5
P
42.3
41.4
Ml. 6
42.2
41.1
41.1
350
120
450
180
500
275
525
270
500
250
475
260
550
200
650
230
1,000
1,100
700
350
2,500
27
3, 000
725
400
700
410
3,000
30
43.0
26 7
28.1
43.9
29 2
36.2
44.9
34 1
38 9
44 3
32 1
32.3
43.5
35 8
35 5
43 5
34 5
36 4
43.0
28 3
35.4
42.9
34 7
32.7
43.1
26 6
33.1
M3.2
' 25 3
'32. 1
41 0
44.9
39.2
41.8
38.5
40 5
45.8
39.3
42.4
38 5
41 3
46.4
39.8
43.6
38 8
40 6
46 4
39.6
43 1
38 7
41 5
44 6
37.5
39 0
37 1
40 8
44 0
38.5
40 1
38 2
41 2
42.8
37.2
38. 5
36 9
40 5
43.2
37.4
38.9
37 1
40 7
44.1
37.1
38.3
36 8
»• 40 8
M4.8
••37.3
r
39 0
r
36 9
46.9
39.3
44.8
41.5
47.0
39.0
44.5
41.4
46 0
39.0
42.6
41.6
45 9
38 9
42.3
41 6
45 5
38.9
41.9
41.9
46 0
38 8
42.1
41 6
44 5
38.6
41.6
41.7
44 8
38.3
41.5
41.2
44 9
38.2
41.6
41.2
' 45 3
40.6
40.6
40.7
40 7
40.7
40.9
40.4
40.5
40.6
36.6
40.7
45.4
40.5
36.6
40.8
45.2
39.7
35.3
39.8
45.2
39.4
34 8
39.3
45.4
39.0
34.4
39.3
45.1
39.8
37 0
39.4
45.4
39.3
35 0
39.2
45.3
39.2
34.7
39.1
45.0
42.4
41.2
40.3
42.6
40.6
40.3
42.4
41.0
41.5
42 4
40.9
41.9
42.3
40.5
40.5
42 9
41.2
41.0
42.4
41.0
40.2
433
166
494
228
522
250
459
450
269
99
179
34
350
200
675
380
700
378
3, 390
1, 560
350
82
854
09
500
250
.39
650
584
5,000
53
475
215
2,810
1,250
r
694
866
12, 700
1.46
.33
.20
.15
.12
.12
r
750
370
3, 750
40
.34
556
588
658
641
507
467
474
455
521
553
577
612
574
1,585
4,961
733
4,301
568
2,985
679
2,746
690
2,576
1,126
3,844
1,074
4,602
761
4,223
831
4,288
888
4,081
802
3,567
825
3, 587
1,036
3,648
871
980
631
530
536
953
956
930
95, 389
54, 227
47, 730
69, 068
94, 360
86, 827
92, 308
840
772
62, 094
672
72, 144
734
82 990
72 033
675
69 175
2 17
249
2988
26
93
2,101
31
134
3,274
24
152
6
3,671
23
168
4,407
20
151
3,892
19
125
3,144
24
127
3,095
27
135
3, 322
5.2
4.2
4.0
3.5
3.3
3.4
4.4
3.8
4.2
3.6
4.4
4.1
4.3
4.3
4.1
4.4
5.1
4.2
"4.0
v4 4
p 4
P12
P°6
v 3
88, 612
(i)
1
25
4.4
5.0
.3
2.2
2.2
.3
(i)
1
13
5.9
4.6
.3
1.0
3.0
.3
(i)
0)
(i)
(i)
9
5.6
4.9
.4
.7
3.5
.3
U
.4
.7
2.8
3
.4
.7
2.1
.3
.3
1.0
3
.3
.9
2.1
.4
1. 7
.4
.8
2.2
.4
4
.4
9
2.7
3
.4
1.0
2.7
.3
71 40
77 38
r 76 52
71 63
77 19
r 78 25
r 7] 63
r
.4
.8
2.5
.3
r
r
.9
26
3
WAGES
Average weekly earnings (U. S. Department of
Labor) :t
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 glassware, pressed or blown
dollars
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, and trans, equip.)
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
r
77 42
77 90
v 71 51
P 77 08
v 76 80
r
66. 34
r 65 85
r
62 73
70 86
67. 90
67 73
r 62 47
r 70 69
P 61 10
P 70 11
67. 89
83 22
r
68. 85
r 83 63
68 63
r 85 08
P 85 28
84 63
r
86 31
r
77. 46
65.44
69.55
75.72
67.23
72.16
74.21
69.63
75.42
79. 85
70.38
76.38
78 26
70.28
76.26
75 03
72 14
77.78
76 73
71.34
76.91
75.85
71.17
77.15
77.38
71.93
77.52
77.46
64.21
63.43
58.18
64.08
67.20
66. 56
60.03
65.92
67. 23
66. 91
62.31
67. 48
66. 62
66 72
63.33
69.47
65. 92
65 76
63.15
68.97
65.00
64 37
64. 63
69 31
63. 09
62 47
62. 51
68.21
63. 96
63 34
62.67
69.29
64.21
63 43
63.65
70 21
r
65. 19
r 64 71
T
63 19
r 70 28
60.29
71.31
62.31
77.97
63.12
81.79
64.71
81.77
64. 64
82.80
65. 53
84 02
64.15
84. 65
66.23
83.21
67.80
84.23
r
r
r
r
r
72.01
82.21
87.12
84.45
86.31
86.51
89.01
85.89
85.89
r
75.42
76. 54
77.56
77.00
77. 79
78.58
79.61
79.65
79.27
r 79 46
67.66
70.58
74.52
75.65
75.90
78.37
76.74
76.80
77.59
77.23
67.72
76.36
65.90
70.82
77.70
67.97
73.39
79.85
69.89
75.12
80.70
70.89
73.34
80.94
70.72
75.78
83.52
71.57
72.90
82.99
71.72
74.21
83.03
71.28
74.21
84.05
72.21
r
74 48
83 46
r 71 g6
r 73 71
82 88
r 70 99
72 80
r 82 49
r 71 23
75.65
71.44
80.51
74.34
76.11
69.60
58.61
78.18
77. 95
79.95
75.36
76.97
70.21
60.64
84.82
88.20
84. 15
77.16
76.02
73.43
62.82
86.48
92.23
83. 42
75.65
76.80
74.20
63.99
85.48
89. 25
84.48
72.95
76.80
74.38
64.26
87.11
90. 31
86 04
77.99
81 12
75.76
65 57
85.06
86.94
85.73
76.03
79 37
73.57
64 17
85.69
87.99
85. 14
76.60
79.98
73.39
64 12
85 49
88.20
84 18
78.79
81 41
73 74
64 74
r 8.5 7Q
r 88 83
r 85
r 87
82
80
r 85
88
81
79
89
r 73
r 64
r 83 16
r
80. 19
79 46
08
57
76
19
r 81 61
r 80 19
72 10
r 64 43
r 73 22
r 64 53
r
v 69. 47
88 17
80 32
' 77. 28 * 76.96
08
17
77
40
21
63
37
P 81 71
v 70 27
P 84 45
P 71 86
P 62 71
1
2
Revised.
p Preliminary.
JSee note marked "J" on p. S-ll.
Less than 500 claims.
See note marked "cf".
fRevised series. Beginning 1952, data cover all domestic (land-line) employees except messengers and those compensated entirely on a commission basis; earlier data exclude general and
divisional headquarters personnel and trainees in school.
cf Figures beginning November 1952 include unemployment compensation benefits under the Veterans' Readjustment Assistance Act of 1952 (datacompiled by the United States Department
of Labor, Bureau of Employment Security} in addition to the allowances under the Servicemen's Readjustment Act of 1944 (data compiled by the Veterans Administration} The BES data cover
veterans with military service since June 1950 and include those filing for payments to supplement benefits under State programs but exclude veterans filing for payments to supplement benefits
under the railroad unemployment insurance program; the number involved under the latter program, is relatively small.
SURVEY OF CURRENT BUSINESS
S-14
September 1953
1952
Unless otherwise stated, statistics through
1950 and descriptive notes are shown in the
1951 Statistical Supplement to the Survey
July
August
September
1953
October
November
December
January
February
March
April
May
June
July
EMPLOYMENT AND POPULATION— Continued
W A G E S— Continued
Average weekly earnings, etc.t— Continued
All manufacturing industries —Continued
Nondurable-goods industries
dollars _
Food and kindred products
do
Meat 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 on terwear,. _
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 innei 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 quarrving
do
Contract construction
do
Non building construction
do
Building construction- .. _
do _ _
Transportation and public utilities:
Local railways and bus lines
do
Telephone
_ _
do
Telegraph f
do
Gas and electric utilities
do
Wholesale and retail trade:
Wholesale trade
do
Retail trade (except eating and drinking
places)
dollars
General-merchandise stores
do
Food and liquor stores..
__ _ _.do
Automotive and accessories dealers do
Finance, insurance, and real estate:
Banks and trust companies _
do
Service and miscellaneous:
Hotels, year-round
do
Laundries
.
..
do.
Cleaning and dveing plants
do
Average hourly earnings (U. S. Department of
Labor) :J
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 glassware pressed or blown
dollars. .
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 . _
Automobiles
Aircraft and parts
Ship and boat building and repairs.,
Railroad equipment
Instruments and related products
Miscellaneous mfg. industries
Nondurable-goods industries
Food and kindred products
Meat products.
Dairy products
Canning and preserving
Bakery products
Beverages
r
Revised.
* Preliminary.
do
do
do
do _ .
do
do _
do
60. 68
63. 42
69. 70
64.80
52.25
62. 43
75. 16
46.36
51.98
51.05
47.88
61.45
62. 51
69.26
63.80
52.80
62.01
72, 31
45. 47
53.60
52. 66
49.53
62. 06
63. 03
70. 55
65. 71
54. 40
62.70
71. 62
45.54
54. 67
54. 14
50.30
62.06
63.54
71. 65
64.23
54. 13
62. 40
70. 18
46. 06
55. 08
5-1 81
51. 07
62.56
64. 64
75. 08
65.25
48.51
62. 67
72.51
45.05
55. 35
54. 68
50. 94
63. 59
65.68
77. 26
65. 81
51. 65
62.78
71.98
46. 26
55. 90
55. 35
50.05
62.88
65.35
74. 23
67.45
52.72
62.58
70.93
46. 59
54.94
54.54
49.02
62.88
64.71
70.00
67.61
53. 20
63.04
71.51
45.39
54.94
54.27
50.05
63.60
65.28
71.33
65.97
53.02
63.65
71.96
47. 63
54.80
53.60
50.31
62.81
' 64. 64
70. 62
' 66. 10
51.61
63.45
' 73. 49
' 47. 62
' 53. 84
' 53. 20
48.49
63.20
' 65. 44
71.91
67. 78
51.99
63.86
75. 95
47.36
53. 98
53.73
47.86
63. 36
' 66. 65
73.98
68.70
51. 65
65. 47
78.38
' 46. 86
' 53. 86
53.60
48. 12
v 63. 60
P 66. 72
46.18
49.54
48. 60
54. 30
49. 10
55.42
48. 73
54.51
48. 36
53. 70
48. 86
54.83
48.81
54.96
49.98
57.30
49.76
59.13
' 47. 73
' 56. 78
47.21
56.93
' 48. 05
59.52
" 48. 37
39.48
51. 85
68. 26
74. 21
41.04
54. 72
69.82
74.12
41.64
51.32
70.91
75. 68
42. 51
51.70
71.83
76.47
42.29
51. 71
72.27
77.26
41. 47
54.30
72.60
77.43
40. 66
54. 93
71.55
77.00
41.31
55.69
71.81
77.26
41.86
54.45
72.31
77.44
' 41. 58
' 51. 84
71. 81
' 77. 62
Ml. 36
' 50. 34
72.07
77.88
42.11
50.86
' 72. 24
78.50
v 73. 19
81. 45
8fx 64
80.60
70.00
75. 14
88.18
90. 98
72.07
84.38
50.05
47.88
82.08
87.00
80.20
70.35
75. 52
87. 53
90. 45
73.49
85. 46
51. 88
50.42
83.71
89. 06
81.41
71.04
76.92
88.99
91.94
75. 21
86. 28
51. 21
48.77
83. 07
88.82
81. 61
71.38
77.08
87.91
90.85
75. 53
85. 88
51.19
47.99
83. 07
88. 57
81.20
72. 56
78. 06
87.94
91.98
76. 86
87. 23
50.76
47. 19
84.93
91. 64
83.64
72. 98
78.28
88. 10
92. 34
79. 19
90. 42
53. 46
51.09
83.21
86. 38
82.42
72. 51
77 33
88. 10
91.94
78.09
89.24
53.06
51.48
83. 76
87.82
82.19
73.10
77.38
87.45
91.03
' 79. 30
91.80
53.19
51.61
85. 24
89.28
83.84
73.87
79. 15
87.89
91.71
80.29
93.83
53.84
52.00
' 85. 19
91.36
••84.02
74. 29
' 79. 76
88.29
'91.88
' 79. 32
' 91. 58
' 51. 79
' 49. 10
85. 58
' 85.
75
92.48
9 C .60
83. 39
84.00
r
74. 93
75. 17
79.76
80.36
' 88. 9 1 ' 88. 94
91.88 • 92. 34
' 78. 38
77.78
' 91. 94
89. 20
51.61
52.47
48.81
50.03
80.41
59.27
63.51
81.22
65. 70
80.73
85.76
76. 73
87.91
84.61
71.58
75.58
85. 26
80.91
86. 27
84.83
85. 56
91.73
84.71
70.75
87.79
84.08
86.75
81.42
84.48
65.70
81.76
r 84. 67
' 61. 99
' 86. 33
76.69
'84. 47
87.40
93.00
92.31
85.69
70. 49
87.81
86.53
88.17
85.86
73.28
89.21
90.31
88.94
89. 21
75. 17
91.94
94.18
91.18
86.48
75. 63
92. 66
94.39
92.11
90. 47
73. 14
88.13
85. 02
88.67
87.72
71.28
90.86
87.02
91.68
89.40
70.19
88.16
83.93
88.93
88.29
70.85
89.01
85.19
89.78
88.73
72.77
88.67
84.26
89.79
r 88. 13
' 90. 04
88.56
75.43
'90.34
' 87. 20
' 90. 77
86.40
76. 10
92.02
90.69
91.99
78.32
62. 49
73.02
75.12
78.49
62.01
72.09
74. 52
77.74
62.79
74.55
76. 13
77. 57
63.80
74. 87
76. 96
77.81
64. 57
73.74
78.77
78. 66
63. 63
74. 10
78.21
76.01
63. 69
73. 63
78.40
76.61
63.58
73.46
77.46
76.78
63.03
73. 63
77.87
r 77. 92
63.20
73.63
r
78. 50
' 79. 06
64.63
75.90
79.10
79.23
64.96
75.60
80.29
67.80
68.21
68.38
69.19
69. 19
69.53
69.08
69.66
69.89
70.12
' 70. 93
71.51
54. 00
39. 16
57. 79
70.82
53. 87
39. 53
57. 53
69.61
53. 20
38.12
56. 52
70.51
53. 19
37.93
56. 59
71.73
52.65
37.15
56. 99
71.26
52. 54
38.48
57. 13
71. 28
53.45
38.85
57. 62
71.12
53.70
38.17
57.48
71.55
53.70
37.82
57.57
72.90
53.96
r 37. 93
r
57. 81
' 74. 09
54.35
' 38. 52
' 57. 51
' 74. 42
55.16
39.76
59.19
74.70
r
74. 37
' 89. 15
' 85. 02
" 84. 75
" 76. 04
"91.91
" 79. 56
* 51. 54
52. 44
52. 48
52.41
53.07
53. 42
53.56
54.29
54.61
54.40
' 54. 47
' 54. 57
54.08
36.89
38.73
44.33
37. 06
38. 16
44. 33
36.89
38. 95
46.07
37.31
38. 86
46.51
37.22
38.88
44.96
37. 75
39. 55
45.92
37.31
39.36
45.02
37.65
38.88
43.73
37.47
39.38
45.02
r 37. 83
39.58
r 45. 36
' 38. 07
' 40. 57
' 47. 84
38.82
39.87
46.85
1.64
1.73
1.79
1.66
1.76
1.81
1.69
1.80
1.87
1.70
1.81
1.85
1.71
1.82
1.83
1.73
1.83
1.84
1.74
1.84
1.85
1.74
1.85
1.86
1.75
1.85
1.88
1.75
••1.86
1.88
1.76
1.86
' 1.89
'1.76
1.87
' 1.90
"1.77
"1.88
" 1.92
1.57
1.57
1.44
1.59
1.60
1.60
1.45
1.60
1.62
1.62
1.44
1.63
1.57
1.60
1.49
1.65
1.60
1.60
1.50
1.67
1.57
1.57
1.51
1.67
1.55
1.55
1.51
1.68
1.56
1.56
1.51
1.69
1.57
1.57
1.53
1.70
1.59
'1.59
1.53
1.71
' 1.63
'1.63
1.53
1.72
1.64
1.64
'1.52
1.72
"1.67
1.57
1.81
1.55
1.93
1.59
1.99
1.59
1.98
1.62
2.00
1.61
2.01
1.62
2.03
1.66
2.01
1.67
2.02
'1.71
2.02
'1.73
2.02
1.72
'2.05
1.91
2.04
2.13
2.08
2.10
2.11
2.15
2.10
2.10
'2.10
2.10
2 14
1.80
1.84
1.88
1.86
1.87
1.88
1.90
1.91
1.91
1.91
1.91
1.94
1.70
1.73
1.77
1.78
1.79
1.81
1.81
1.82
1.83
1.83
' 1.84
'1.84
"1.85
1.71
1.84
1.66
1.74
1.85
1.67
1.76
1.87
1.68
1.78
1.89
1.70
1.78
1.90
1.70
1.80
1.92
1.70
1.80
1.93
1.72
1.81
1.94
1.73
1.81
1.95
1.74
'1.83
1.95
1.74
' 1.82
1.95
1.74
1.82
' 1.95
1.75
p 1.95
"1.77
1.92
1.99
1.89
1.84
1.87
1.71
1.48
1.94
2.03
1.89
1.87
1.91
1.72
1.49
2.01
2.11
1.93
1.91
1.91
1.74
1.51
2.03
2.14
1.94
1.92
1.92
1.75
1.52
2.04
2.13
1.96
1.93
1.92
1.75
1.53
2.04
2.13
1.96
1.94
1.95
1.77
1.55
2.03
2.10
1.98
1.92
1.95
1.76
1.55
2.05
2.11
1.98
2.00
1.97
1.76
1.56
2.05
2.11
1.99
2.01
2.01
1.76
1.56
2.06
'2.12
1.98
'2.02
2.03
1.75
1.56
2.05
2.10
1.98
2.02
2.03
'1.76
1.57
'2.07
2.14
1.98
2.01
2.04
1.77
1.57
"2.08
1.57
1.56
1.74
1.51
1.37
1.52
1.76
S-13.
1.58
1.59
1.78
1.54
1.38
1.53
1.76
1.58
1.59
1.75
1.54
1.40
1.53
1.77
1.59
1.60
1.77
1.52
1.41
1.53
1.79
1.59
1.60
1.77
1.53
1.41
1.54
'1.81
1.60
'1.60
1.78
1.53
1.39
' 1.55
'1.83
1.60
'1.61
1.80
1.53
1.37
1.57
1.84
"1.61
"1.60
1.54
1.54
1.54
1.54
1.56
do
1.52
1.51
1.49
1.51
do
1.55
1.70
do
1.73
1.71
1.71
1.70
1.44
do
1.48
1.45
1.48
1.50
1 29
1.34
1.33
1.32
do
1.28
1.49
1.50
1.50
do
1.51
1.48
1.72
1.72
1.76
1.73
1.73
do___
JSee note marked "{" on p. S--11.
fRevised series. See note "t" on p.
_
r 79. 61
P 46. 61
' 53. 43
r
"1.52
"1.71
"2.06
pl.77
"1.56
SUKVEY OF CURRENT BUSINESS
September 1953
Unless otherwise stated, statistics through
1950 and descriptive notes are shown in the
1951 Statistical Supplement to the Survey
S-15
1953
1952
July
August
September
October
November
December
January
February
March
April
May
June
July
EMPLOYMENT AND POPULATION—Continued
WAGES—Continued
Average hourly earnings, etc. J— 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 papcrboard 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
Non manufacturing industries:
Mining:
Metal
- _ _ - - do
\nthracite
do
Bituminous coal
do
Crude-petroleum and natural-gas production:
Petroleum and natural-gas production
dollars ..
Non metallic 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 f
do
Gas and electric utilities
do
Wholesale and retail trade:
"Wholesale trade
do
Retail trade (except eating and drinking
places)
dollars
General-merchandise stores
_
do
Food and liquor stores
do
Automotive arid accessories dealers ...do
Service and miscellaneous:
Hotels year-round
do
Laundries
__
do _
Cleaning and dvein°° plants
do
Miscellaneous wage data:
Construction wage rates (ENR):§
Common labor
- dol. per hr
Skilled labor
do
Farm wage rates, without board or room (quarterly) T <T
dol. per hr
Railway w a es (average
class I)
do
Road-building wyagcs, common labor
do
1.22
1.35
1.34
1.26
1.16
1.35
1.34
1.27
1.13
1.36
1 35
1.28
1.14
1.36
1 35
1.28
1.17
1.37
1 35
1.28
1.18
1 37
1 35
1 28
1.21
1 37
1 35
1 29
1.23
1 37
1 35
1 30
1.26
1 37
1 34
1 30
'1.28
'1.28
1.37
1 34
1 29
'1.27
1.37
1 34
1.30
1.29
1.47
1.31
1.50
1.32
1 51
1.31
1.51
1.30
1 50
1.31
1 49
1.33
1 51
1.34
1 52
1.32
1 52
'1.29
1.51
1.29
1 51
'1.32
1 60
pl.34
1.07
1.49
1.61
1.71
1.08
1. 52
1.62
1.70
1.09
1 53
1.63
1.72
1.09
1 49
1.64
1.73
1 09
1 47
1 65
1.74
1 08
1 50
1.65
1.74
1 09
1 53
1 66
1. 75
1 09
1 53
1 67
1.76
1 09
1 50
1 67
1.76
1. 10
1 44
1.67
'1.76
1 10
1 43
1.68
1.77
r
1 12
1 47
1 68
1 78
P i 71
2.11
2.40
2.00
1.72
1.86
2.11
2.41
1.99
1.72
1.86
2.13
2.44
2 01
1.72
1 89
2.13
2.44
2 02
1.72
1 88
2.13
2 44
2 02
1 74
1 8«
2.15
2 47
2 05
1.75
1 90
2.15
2 44
2 04
1 76
1 90
2.17
2 46
2 06
1 77
1 92
2.18
2 48
2 07
1 78
1 94
2.19
2.51
2.09
1.79
1.95
2.20
2.52
2 09
1.81
1 95
2 . 21
2 53
2 10
r
1 82
1 96
2 13
2 23
1.82
2 12
1.30
1 25
2 14
2 25
1.81
2 11
1.31
1 27
2 16
2 27
1.83
2 I1*
1 33
1 28
2
2
1
2
1
1
2
2
1
2
1
1
2
2
]
2
1
1
2
2
1
2
1
1
2
2
1
2
1
1
17
27
92
25
35
31
2 17
2 27
1 93
2 95
1 37
1 33
2 18
2.28
1.93
2.25
1.37
1.32
2 18
2 28
1 94
2 27
1 38
1 33
r 2 18
1.87
2 22
2 26
1.85
2 25
2 23
1.91
2 25
2 26
1 91
2 23
2 34
1 96
2 ?6
2 43
1 95
2 48
2 59
1 97
9 50
2 48
1 96
2 50
2 49
1 96
2 47
2 47
1 96
2 45
2 48
1.98
2 49
2 47
2 00
2 50
2 55
2.09
1 . 57
2 24
2.07
2 29
2.12
1.60
2 27
2. 13
2 31
2.16
1.62
2 31
2.16
2 35
2.13
1 63
2 34
2 19
2 38
2.18
1 64
o 35
2 18
2 39
2. 15
1 69
2 36
2 17
2 40
2. 17
1 64
2 37
2 18
2 41
2.18
1 64
2 38
2 19
2 42
2.18
1 65
2 39
2 20
2 44
r 2 39
2.16
1.68
2 39
2.18
r
2 44
2.16
1 68
2 39
2.18
2 44
1. 67
1.59
1.63
1.81
1.67
1. 59
1 62
1.80
1 69
1.61
1 75
1.83
1 69
1.64
1 77
1.85
1 71
1 66
1 76
1.88
1 71
1.64
1 76
1 88
1 71
1. 65
1 77
1.88
1 71
1.66
1 77
1.88
1 71
1.65
1 77
1.89
r I 72
r
1 73
1.67
1 80
1.93
15
26
82
11
34
29
15
26
87
17
35
30
17
28
89
20
35
30
17
27
90
22
35
31
r
r
2 16
1 66
2 18
r 2 44
T
T
r
1 65
1 77
1 91
1 73
1.67
1.79
1.92
r 1 35
r
2 28
1 93
2 23
1 37
1 32
1 67
1 68
1 68
1 70
1 70
1 70
1 71
1 72
1 73
1 74
1 76
1 77
1.33
1.07
1.42
1.56
1.33
1.08
1 41
1.54
1 34
1.08
1 42
1. 56
1 35
1.09
1 44
1. 58
1 35
1.08
1 45
1.58
1 39
1.04
1 45
1. 57
1 36
1.11
1 47
1.57
1 37
1.10
1 47
1.59
1 37
1.09
1 48
1.62
1 38
1 09
1 49
1.65
1.39
1. 11
1.49
1.65
1 40
1.12
1 51
1.66
.87
.94
1.10
.87
.94
1.10
87
.95
1 11
88
.95
1 11
88
.96
1 11
88
96
1 12
88
.96
1 12
89
.96
1 11
89
.97
1 12
89
.97
1 12
1.755
1.793
2.885
1.803
1.817
2 921
1.817
2 937
1.817
2 937
1.817
2.909
2.942
1.817
2 946
1.821
2 949
2.950
1.851
1 858
.76
1 853
1.48
1 906
1 873
.89
1 873
1.31
1 902
1 857
478
575
492
539
487
504
490
511
468
507
408
696
386
720
2, 253
1, 128
1 106
22
365
760
333
794
145, 988
52, 048
31, 660
129, 319
45, 749
28, 126
153 511
53. 898
35, 339
145, 740
52, 038
32, 742
2.849
.87
1.835
1.41
r
T
r
r
r
90
1 14
1.824
2.955
1.852
2.979
.85
1.862
1.40
1.877
1. 867
455
464
417
441
1.824
^2.19
v I 85
p 2 22
v I 95
p 1 36
.92
.97
>-. 98
1.15
T
pl.27
P i 37
1 34
1 29
1.877
3.021
.89
1.52
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
Bank debits total (345 centers)!
New York City
6 other centers 9
do
do
do
450
539
454
550
454
565
449
591
414
775
433
725
2,221
1 102
1 078
23
421
697
150 486
54, 893
32, 322
127 665
44, 209
27, 064
165 140
63, 091
35. 179
2,260
350
908
352
896
1,088
1 062
26
369
803
137, 334
50, 472
122, 200
42, 778
25, 550
136, 067
49, 131
28, 611
29,483
428
408
435
429
2,330
313
825
1, 156
1,136
20
320
855
319
866
142 175
50 255
32, 283
154, 106
56, 623
33, 807
148 135
51, 799
32, 683
Federal Reserve banks, condition, end of month:
50, 252
51, 948
50, 558
50, 496
51,341
52, 492
50, 202
50, 243
50, 479
50, 389
50, 466
Assets, total
mil. of dol. _
51, 852
51, 493
24, 821
26, 478
Reserve bank credit outstanding, totaL_-do
25, 216
24, 927
25, 546
25, 414
24, 747
25, 855
26, 740
25, 825
26, 194
25, 589
26, 176
1,270
1, 735
1,014
64
1,318
477
1 895
485
732
1 591
156
1 309
Discounts and advances
do
64
22, 853
United States Government securities-.-do
23, 146
24, 697
23, 944
23, 806
23, 880
24. 746
23, 575
23, 821
24, 246
24, 964
23, 694
23, 875
22, 146
22, 147
22, 145
21, 790
21, 367
21, 383
21, 286
22, 147
21, 986
21, 480
21,356
Gold certificate reserves
do
22, 140
21, 085
50, 252
50, 496
51,341
52, 492
51, 948
50, 558
50, 479
51, 852
50, 202
50, 389
50, 243
Liabilities, totaL_
- _-do _
51,493
50, 466
21, 952
22,515
22, 056
21, 455
22, 583
21 344
21 055
22 273
21 770
20, 421
20 396
Deposits total
do
20 976
21 068
20,411
20, 323
20,611
21, 149
20,511
19, 322
19, 740
19, 561
Member-bank reserve balances - _ _ do _
20, 066
20, 616
19, 950
20 069
19, 607
r
614
495
835
319
795
102
— 285
351
Fxcess reserves (estimated)
do
620
—570
715
806
590
24. 843
25, 119
25, 638
25, 215
25, 949
Federal Reserve notes in circulation
do
25, 426
26. 250
25, 681
25V 560
25, 598
25. 671
25, 831
25, 872
45.3
47.3
46.4
46.2
46.9
47.5
45.6
45.3
46.5
45.8
45.8
Reserve ratio
percent-.
46.0
44.9
- Revised.
*> Preliminary.
fRevised series. See note "t" on p. S-13 regarding coverage of data for telegraph industry, Bank debits have
fSee note marked "i" on page S-ll.
been revised to include additional centers and to represent debits to demand
deposits.
id deposits.
§Rates as of August 1, 1953: Common labor, $1.921; skilled labor, $3.062.
9Includes Boston, Philadelphia, Chicago, Detroit, San Francisco, and Los Angeles.
SUEVEY OF CURRENT BUSINESS
S-16
Unless otherwise stated, statistics through
1950 and descriptive notes are shown in the
1951 Statistical Supplement to the Survey
September 1953
1952
July
August
September
1953
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. of doLDemand, except interbank:
Individuals, partnerships, and corporations
mil. of doLStates 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. of dol_.
Bills
do-_Certificates
_
do
Bonds and guaranteed obligations
do
Notes
do
Other securities
do
Loans (net), total
do
Commercial, industrial, and agricultural. -do
To brokers and dealers in securities
do
Other loans for purchasing or carrying securities
mil. of doL_
Real-esta,te loans
do
Loans of banks
___ do
Other loans
do
Money and interest rates: cf
Bank rates on business loans:
In 19 cities
percent
New York Citv
do
7 other northern and eastern cities
do
11 southern and western cities
do
Discount rate (N. Y. F. R. Bank) __
do
Federal intermediate credit bank loans
do
Federal land bank loans-- - do
Open market rates, New York City:
Acceptances, prime, bankers', 90 days
do
Commercial paper, prime, 4-6 months
do
Call loans, renewal (N. Y. S. E.)
do
Time loans, 90 days (N. Y. S. E.)
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
53, 479
52, 982
53, 024
54, 314
55, 125
55, 373
55, 546
53, 811
51, 802
54, 176
53, 708
' 52, 820
53, 395
53, 879
3,750
4,860
16,917
53, 941
3, 609
3, 186
16, 972
54, 526
3, 568
3, 601
17, 095
55, 508
3,614
3,487
17, 198
56, 171
3, 610
3, 836
17, 241
58, 264
3,798
3, 567
17, 533
56, 112
3.894
2, 362
17, 499
55, 342
3,790
3, 309
17, 622
52, 785
3, 828
3,934
17, 698
54, 608
4, 241
1,426
17, 792
54, 185
4,041
1,356
17,917
54, 263
3,975
2, 469
18, 068
54, 082
3, 736
5, 292
18, 085
15,947
784
11,337
41, 362
16, 012
770
12,031
40, 043
16, 144
761
12,328
39, 642
16, 266
743
12, 241
40, 315
16, 289
12, 564
40, 796
16, 569
763
13,689
40, 382
16. 528
770
12,051
39, 626
16, 641
783
11 863
38, 936
16, 726
777
11, 983
37, 180
16, 799
803
11,382
36, 864
16, 901
829
11, 734
36, 542
17, 052
826
12. 359
36, 896
17, 074
822
11, 568
40, 225
33, 726
3, 366
3,763
20, 575
6, 022
7, 636
35, 716
20, 756
1,999
32, 368
2, 625
3,268
20, 435
6, 040
7, 675
36, 087
21,200
1,471
32,018
2, 568
2, 666
20, 404
6, 380
7, 624
37, 081
21, 854
1,422
32, 819
3. 681
2,482
20, 343
6 313
7, 496
37, 639
22, 457
1,444
33, 420
4, 545
2, 488
20, 259
6, 128
7, 376
38, 452
23, 130
1, 612
32, 967
4, 163
2, 467
20, 293
6, 044
7,415
39, 104
23, 390
2,002
32, 143
3.710
2,458
20, 000
5 975
7,483
38, 687
23,011
1,543
31, 478
3, 156
2,271
20, 123
5 928
7 458
38, 775
22, 869
1 459
29, 547
1,701
2,115
19, 881
5, 850
7, 633
39, 647
23, 269
1,561
29, 249
1,583
2, 038
19, 857
5,771
7,615
39, 437
23, 133
1,540
29, 144
2, 043
1,850
19, 599
5,652
7,398
39, 439
22, 690
1,547
' 29, 501
2,514
2,090
r
19, 356
5, 541
7,395
39, 649
22, 585
1,719
32, 705
2,855
4, 985
19, 425
5, 440
7,520
39, 381
22, 643
1,830
728
5, 850
396
6,552
801
5,911
615
6 656
778
5,977
827
6 789
751
6,032
621
6 904
734
6,081
433
7 03Q
807
6, 095
151
7 253
799
6, 120
480
7 335
795
6 147
808
6, 176
708
7 405
7 665
789
6,214
611
7 760
779
6,257
930
7 847
755
6 302
948
7 960
763
6,326
446
7 992
1.75
2.72
4.17
1.75
2.71
4.17
3 49
3 29
3 44
3 84
1.75
2.71
4.17
1.75
2.71
4.17
1.75
2.71
4. 17
3. 51
3 33
3.49
3 84
1. 75
2.71
4.17
2.00
2.71
4. 17
2 00
2.71
4 17
3.54
3 31
3. 50
3 90
2.00
2 72
117
2.60
2.72
4.17
2.00
2.72
4.17
3.73
3 52
3.71
4 05
2.00
2.74
4. 17
2.00
2.79
4. 17
1.75
2.31
2.38
2.56
1.75
2.31
2.57
2.61
1.75
2.31
2.63
2.63
1.75
2.31
2.63
2.63
1.75
2.31
2.63
2.63
1.75
2.31
2.63
2.63
1.82
2.31
2.63
2.63
1.88
2.31
2.63
2.63
1.88
2.36
2.63
2.63
1.88
2.44
2.90
2.80
1.88
2.68
3.22
3.10
1.88
2.75
3.25
3.13
1.88
2.75
3.25
3.13
1.824
2.14
1.876
2.29
1.786
2.28
1.783
2 26
1.862
2.25
2. 126
2.30
2.042
2.39
2 018
2 42
2.082
2.46
2 177
2 61
2 200
2.86
2 231
2 92
2 101
2 72
12, 730
2,601
12, 786
2, 586
12, 896
2,572
12, 943
2,562
13, 046
2, 555
13, 257
2,548
13, 359
2,537
13, 421
2 524
13, 550
2,510
13, 626
2 496
13, 702
p 2, 478
13,841
P 2 459
13, 881
P 2 438
22, 751
16, 465
7, 200
4, 433
1, 221
3,611
23, 030
16, 728
4, 539
1 258
3,659
23,414
17,047
7, 388
4, 669
1 300
3,690
24 050
17, 572
7 639
4,871
1 317
6, 715
24 525
17,927
7 866
4. 913
1 376
3', 742
25 705
18. 639
8 110
5, 301
1 386
3, S42
25 508
18, 785
8 273
5, 256
1 378
3,878
25
18
8
5
1
3
262
860
470
131
377
882
25 676
19, 267
8 778
5, 154
1 383
3, 952
26 172
19 656
9 074
5 185
1 401
3 996
26
20
9
5
1
4
715
078
379
231
426
042
27 051
20' 489
9 630
5' 289
1 454
4 116
27 217
20 854
9 908
5 308
1 476
4 162
13, 950
6,807
4 294
759
2 090
14, 203
6, 967
4 362
773
2,101
14, 614
7, 189
14, 955
7, 352
4 670
798
15, 423
7 576
do
do
13, 725
6, 654
4, 263
738
2,070
4 833
815
2, 199
15, 665
7, 696
4 930
818
2,221
15 876
7 808
5 031
828
2 209
16,318
8.047
5 174
856
2 241
16, 714
8 253
5 312
880
2 269
17. Ill
8 433
5 480
902
2 296
17 496
8 604
5 633
935
2 394
17 871
8 744
5 816
959
2 352
do
do
do
do
do
2, 740
932
766
292
750
2, 778
951
782
295
750
2, 844
990
796
301
757
2, 958
1 042
821
313
7S?
2. 972
1 019
8.39
324
790
3.210
1 101
900
336
879
3, 120
1 068
865
343
844
2,984
960
855
352
817
2,949
931
844
364
810
2,942
916
839
376
811
2, 967
923
842
390
812
2, 993
928
844
401
820
2,983
913
845
415
810
do
do
do
do
6, 286
2,023
2, 573
1, 690
6, 302
2 026
2,579
1, 697
6, 367
2 033
2, 642
1, 692
6
2
2,
1
6
2
2
1
7 066
2 10S.
3,313
1 645
6
2
2
1
6 402
2 662
1 661
6
2
2
1
409
142
602
665
6 516
2 147
2 677
1 692
6
2
2
1
637
162
760
715
6
2
2
1
562
047
784
731
6 363
1 938
2 705
1 720
do
do
do
do
2,023
1, 792
2, 573
1, 690
2, 026
1,792
2 579
1,697
2 033
1, 793
2 6-12
1,692
2 033
1, 801
2 776
1 669
2 109
1 821
1 663
2
1
3
1
108
852
313
64 /i
2 199
1 X5S
2 956
1 638
9
1
2
1
079
839
662
661
2 142
1 882
2 602
1 665
2 147
1 878
2 677
1 69°
2 162
1 851
2 760
1 715
2
1
2
1
047
768
7§4
731
1 938
1 683
2 705
1 720
3,649
3,316
48
2,464
949
188
4,585
4,050
47
3,546
862
130
6 875
6,585
52
5, 834
877
112
3 355
3,099
65
2,227
923
139
4 731
4, 151
44
3,624
888
175
6 350
6, 003
51
5, 024
939
336
5 232
5 061
51
4 130
842
209
6 300
5 479
11 870
10 502
56
10 719
993
102
4 044
2 849
54
3 021
'880
90
5 140
4 380
51
3 998
922
169
10 323
9 744
51
9 179
939
155
3 619
3 308
52
2 395
' 937
235
5 018
183
362
2,971
1,502
6,070
559
353
4,008
1,150
6 383
572
363
3, 723
1,725
5 161
185
354
3,302
1,319
7 124
1 146
386
4,081
I. 511
5 737
235
354
3 632
1. 516
5 595
'311
6 187
563
364
3 789
1.471
6 362
372
351
3 891
6 241
179
350
3 746
I'ftfifi
7 988
1 882
349
4 056
6 068
' 237
369
3 890
1
777
r
CONSUMER CREDITf
Total short- and intermediate-term consumer credit,
end of month
mil o f d o l
Instalment credit, total
_
do
Automobile paper
do
Other consumer-broods paper
_ _. .._ do _
Repair and modernization loans
do
Personal loans
do ___
By type of holder.
Financial institutions, total
..do .
Commercial banks ..
.-do
Sales-finance companies
Credit unions
Other
do
.
_ _
Retail outlets, total
Department stores
Furniture stores
Automobile dealers
Other
Noninstalment credit, total
Single-pavment loans
Charge accounts
_ _
Service credit
By type of holder:
Financial institutions
Commercial banks
Retail outlets
Service credit
_
_ _ _ _ _
__
4 f>°3
789
2, 113
478
033
776
669
598
109
826
663
723
129
956
638
9 Q79
FEDERAL GOVERNMENT FINANCE
Budget receipts and expenditures:
Receipts, total
Receipts, net
Customs
Income and employment taxes
Miscellaneous internal revenue
All other receipts
_
mil, of dol
do
do
do
do
do
6,742
Expenditures, total
do
Interest on public debt
___
do
320
Veterans Administration t
do
401
3,884
National defense and related activities:): do
2,137
All other expenditures!
__
__ do _.
r
Revised.
» Preliminary.
§Revised beginning 1952 to'
cfFor bond yields see p. SJRevisions for July 1950-January 1952 will be shown later.
43
5 294
?
856
107
349
3 501
1. 434
1.749
ulletin.
1 701
1 K79
SURVEY OF CURRENT BUSINESS
September 1953
Unless otherwise stated, statistics through
1950 and descriptive notes are shown in the
1951 Statistical Supplement to the Survey
S-17
1953
1952
July
August
September
October
November
December
January
February
March
April
May
June
July
267,
265
226
39
2
264, 485
262 380
223, 025
39 354
2, 105
264, 590
262 550
223, 077
39 474
2,040
266, 520
264 445
224, 735
39, 710
2,075
266, 071
263 946
223, 408
40 538
2,125
272, 669
270 603
230, 009
40, 594
2,066
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
N on interest bearing _
do
Obligations guaranteed by U. S. Government,
end of month_
_
mil. ofdol
U . S . Savings bonds:
Amount outstanding, end of month
do
Sales, series E through K
do
Redemptions
do
263, 073
260, 908
222, 963
37, 945
2,165
263, 186
261, 060
222, 753
38, 307
2,125
262. 682
260, 577
222, 216
38 360
2,105
264, 919
262, 820
224, 430
38, 390
2.099
267, 432
265 345
226, 557
38 788
2,087
267, 391
265, 293
226, 143
39 150
2,098
267,
265
226
39
2
402
323
226
097
079
584
489
187
302
094
34
39
40
45
51
54
48
50
51
52
52
52
63
57, 827
367
57, 868
356
399
57, 871
330
416
57, 903
347
398
57, 958
303
346
58, 046
375
422
58, 237
504
435
58, 368
414
368
58, 468
440
430
58, 509
382
426
58.014
371
570
57, 977
370
523
57, 962
402
541
467
Government corporations and credit agencies:
Assets, except interagency, total
mil. ofdol
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
29
17
5
2
28, 922
16 890
4 563
2 437
84
480
(i)
716
7, 826
933
1 377
2, 371
3 436
3, 212
1 636
945
826
070
603
82
516
30
18
5
2
0)
804
7, 73 ft
1 095
1 98()
2 421
3 429
3 213
1 775
564
089
671
777
79
526
(i)
611
7,713
872
1 259
2, 645
3 427
3,240
1 904
Liabilities, except interagency, total
Bonds, notes, and debentures:
Guaranteed by the United States
Other
Other liabilities
do
2,774
3 111
3,224
do
do
do
39
1 301
1,434
53
1 330
1.728
48
1,107
' 2, 069
Privately owned interest
U. S. Government interest- _ _ _ _ _ _
do
_ _do _ .
367
25, 780
378
26, 456
Reconstruction Finance Corporation, loans and
securities (at cost) outstanding, end of month,
total d71
mil. of dol
Industrial and commercial enterprises, including
national defense cf
_
mil. ofdol
Financial institutions
do
Railroads
do
States territories, and political subdivisions do
Republic of the Philippines
do
Mortgages purchased
. _
_.do_ _
Other loans
do
401
26, 938
751
753
769
787
790
793
786
786
795
790
797
805
424
54
82
16
54
74
47
427
53
82
16
54
74
47
444
53
82
16
54
73
47
458
51
82
22
54
73
47
464
50
80
22
54
72
47
472
47
80
22
54
72
47
469
47
80
22
51
71
46
472
46
29
51
71
47
482
46
77
22
51
70
47
475
46
77
25
51
70
47
482
46
77
25
51
69
46
492
45
77
25
51
69
46
70, 774
63, 590
71, 123
63, 855
71, 578
64, 205
72, 034
64, 665
72, 415
65, 010
73, 034
65, 345
73, 621
65, 948
73, 943
66 269
74, 295
66, 598
74, 686
67, 035
75, 063
67, 330
75, 403
67, 698
75, 855
68 105
' 62, 532
' 39, 320
' 11, 177
' 9, 042
' 11,217
' 3, 287
r 13, 639
' 754
r
17, 035
1, 454
r
15, 581
r 2, 275
r
1, 511
* I , 637
62, 495
39, 184
11,131
9,025
11,184
3,253
13,615
758
17, 082
1,463
15,619
2,262
1,520
1,688
62, 808
39, 310
11, 127
9,044
11,212
3,281
13 690
820
17, 188
1,471
15 717
2 270
1,526
1,694
63, 159
39, 565
10, 924
8,887
11,346
3, 301
13. 994
. 803
17,311
1,481
15, 830
2,276
1. 540
1, 664
63, 479
39, 757
10. 967
8. 935
11,362
3, 314
14, 115
767
17,411
1, 490
15 921
2, 280
1, 550
1, 714
64, 092
39, 915
10, 867
8, 837
11,409
3, 336
14, 304
872
17, 583
1, 503
16 080
2,284
1,655
1,784
64, 797
40, 473
10, 984
8, 926
11, 552
3.397
14 541
827
17, 774
1,512
16 262
2, 310
1, 658
1,756
65
40
10
8
11
3
14
65, 362
40, 778
10, 791
8,711
11.659
3, 403
14, 925
750
18,038
1, 541
16 496
2, 329
1, 669
1,797
65, 686
41,011
10, 816
8,734
11, 708
3,412
15, 075
711
18, 182
1, 564
16 618
2,341
1, 687
1, 755
65, 997
41,123
10, 692
8, 726
11, 760
3,412
15, 259
759
18, 306
1, 584
16 722
2, 351
1,694
1,763
66, 262
41, 277
10. 602
8, 676
11,827
3 412
15 436
707
18 444
1,599
16 845
2 365
1,702
1,767
66 621
41, 451
10 564
8, 634
11 897
3 418
15 572
726
18 619
1 615
17 004
2 374
1, 707
1 743
r 2, 513
"•392
'450
1,671
115
377
358
148
198
67
156
62
189
' 2, 387
'349
'473
1,565
99
334
336
141
190
64
154
61
187
r 2, 589
'492
r
503
1 594
104
347
340
140
199
67
156
59
182
r
' 2, 594
'417
' 508
1 669
113
398
356
136
199
71
150
61
184
' 3, 460
' 1, 061
' 451
1, 948
124
426
429
172
230
84
174
78
230
' 2, 383
'267
' 450
1 666
124
424
358
137
177
63
151
50
182
' 3, 398
'657
' 583
2 158
141
519
460
174
245
91
200
78
250
' 3, 295
'677
' 543
2, 075
137
487
444
171
241
91
191
75
237
' 3, 126
' 518
'608
2 000
131
483
427
165
237
82
178
73
226
3,227
600
543
2 084
138
484
449
172
247
85
195
72
242
2,962
477
499
1 986
126
460
436
172
233
83
176
68
383 86"!
169 925
39 094
r g 733
34 018
r 60 133
71 ' 958
361 977
162 438
36 873
9 265
33 908
57 780
m' 71 %
LIFE INSURANCE
Assets, admitted:
All companies (Institute of Life Insurance), estimated totalt
„_
mil. ofdoL.
Securities and mortgages t
do
49 companies (Life Insurance Association of
America), total
mil. ofdol
Bonds and stocks, book value, total
do _.
Govt. (domestic and foreign), total
do
U. S. Government. _
do
Public utilitv
do ___
Railroad
do
Other
do
Cash
do
Mortgage loans, total
do
Farm
_
.do
Other
do
Policy loans and premium notes
Real-estate holdings.. _ _ _ _
Other admitted assets _ _ _
_
do
do __
do ___
Life Insurance Agency Management Association:
Insurance written (new paid -for insurance):
Value, estimated total §
mil. of dol__
Group and wholesale §
do
Industrial!
do
Ordinarv, 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___
Institute of Life Insurance:
Payments to policyholders and beneficiaries,
estimated total
thous. of dol__
Death claim pavments
do
Matured endowments- _
do __
Disability payments
do
Annuity payments §
do __
Surrender values §
do
Policy dividends
do
T
338, 501
154, 506
33, 809
8, 845
31, 200
52 947
57. 194
318, 461
145 944
31, 584
8 229
29, 886
47 978
54. 840
322, 636
146 410
34, 400
8 253
28 532
48 768
56^ 273
2, 738
'387
'535
1,816
122
411
384
160
219
77
162
68
212
339, 557
154, 860
39, 111
9 220
31, 605
52 916
51. 845
304, 060
141 626
32 337
7 874
28 595
45 127
48! 501
417,402
168 314
40 498
9 244
28 870
53 198
117. 278
399 041
169 068
42 909
9 851
42 973
53 217
8L 023
084
630
983
908
610
402
634
775
17 894
1 524
16 370
2' 318
1 663
1 804
r
2 663
'427
' 534
1,702
117
412
371
140
193
67
156
56
191
343 743
158 593
37 059
8 362
32 946
49 000
57! 783
410 421
182 781
40 384
9 479
35 193
63 630
78*. 954
365 145
164 114
36 314
8 867
35 049
58 826
61 ' 975
355 232
158 288
37 168
8 834
35 339
57 485
58*. 118
r
232
Revised.
* Less than $500,000.
^Includes loans under the Defense Production Act of 1950.
{Revisions for January-July 1950 are shown in corresponding note in the October 1951 SURVEY. Other revisions are as follows (mil. dol.): Total assets, December 1950, 63,688; securities and
mortgages—December 1950, 57,244; 1951—January, 57,609; October, 60,332; November, 60,498; December, 60,912.
§Revisions beginning 1946 for insurance written and for 1949 and 1950 for annuity payments and surrender values will be shown later.
SURVEY OF CUKEENT BUSINESS
S-18
Unless otherwise stated, statistics through
1950 and descriptive notes are shown in the
1951 Statistical Supplement to the Survey
September 1953
1953
1952
July
August
September
October
November
December
February
March
April
May
June
615, 102
66, 738
81, 624
48, 531
75, 359
342, 850
682, 325
77, 514
94, 784
58, 168
84, 593
367, 266
637, 446
91, 221
87 337
60, 022
68 094
330, 772
574, 765
77, 946
65, 634
48, 224
68 740
314,221
633, 800
75, 985
61 039 1
56, 386
83 828
356, 562
22, 563
23, 186
22, 986
22, 662
23, 337
-29, 004 -263, 189 -171,747 -324. 127 -106,511
4,262
5,587
3,813
1, 580
3, 867
13, 697
1,872
1, 653
1,827
7,746
64, 941
66, 680
38, 958
39, 307
36, 953
38,978
39, 255
13, 697
12, 351
13, 043
13, 273
13, 600
4,340
5, 883
4,485
5, 241
6,031
22, 562
-16,814
2,704
9, 685
22, 277
22, 537
22, 463
-48, 857 -68, 516 -171, 660
2,747
3, 654
1,835
2,255
1,963
1,690
January
July
FINANCE—Continued
LIFE INSURANCE—Continued
Life Insurance Association of America:
Premium income (39 cos.), total thous.
Accident and health
Annuities
Group
Industrial
Ordinary
of dol__
do
do
do
do
do
539, 924
62, 594
85, 732
52, 221
56 801
282, 576
554, 748
70, 958
67, 806
46, 061
68, 809
301,114
847, 255
89, 441
173, 680
66, 567
107,251
410, 316
606, 446
79, 568
100, 351
70, 794
71, 220
284, 513
551, 521
65, 472
66 852
43, 687
79 894
295, 616
594, 231
66, 402
69 008
47, 491
85 313
326, 017
555, 400
67, 052
76 979
47, 442
71 553
292, 374
23, 344
-32, 620
2,861
5,947
65, 768
39, 673
13, 028
6,498
23, 342
—13, 776
1,244
34, 590
66 394
39,411
13, 408
6,212
23, 339
-92, 430
2,988
86, 465
70 602
40 114
14, 122
6,769
216
4,877
.833
382
4,499
.833
411
7,778
.833
258
5,009
.833
270
4,578
.833
1, 318
10, 905
.845
506
7,272
. 853
2, 220
2,921
2,272
1,787
3,107
3,235
1,854
9, 525
3,682
2, 428
3,877
2, 998
2, 521
3, 863
3,093
2, 460
3,870
3,362
2,255
4, 054
3,112
29, 293
197, 000
2,600
8,200
186, 200
95, 800
64, 100
26, 300
29,419
197, 900
2, 500
8,100
187, 400
96, 400
64, 500
26, 600
29, 644
199, 900
2, 500
7,200
190, 200
98, 600
64, 900
26, 700
30, 236
202, 700
2, 500
8, 600
191, 600
99, 400
64, 800
27, 400
29.6
20.8
35.4
24.3
36.4
25.0
34.1
24.1
MONETARY STATISTICS
Gold and silver:
Gold:
23, 350
Monetary stock, U. S
mil. of dol
Net release from earinark§
thous. of dol_. -31,394
1,580
Exports
do
26, 047
Imports
- do
67 4^1
Production reported monthly total
do
39, 886
Africa
do
13, 062
Canada
do
6,403
United States- _ .
do. _
Silver:
236
Exports
do
5,733
Imports
. _ _
do
.829
Price at New York
dol. per fine oz
Production:
1,809
Canada
thous. of fine oz
3,858
Mexico
do
3,307
United States
do
Money supply:
28, 978
Currency in circulation
_
mil. of dol
197, 200
Deposits and currency, total
do
2,600
Foreign banks deposits, net
_
do
8,900
U S Government balances
do
185, 800
Deposits (adjusted) and currency, total. _. do
95, 700
Demand deposits, adjusted
do
63, 800
Time deposits
_
do
26, 200
Currency outside banks
do
Turnover of demand deposits except interbank and
U. S. Government, annual rate: f
34.4
New York City
ratio of debits to deposits
24.0
6 other centers 9
do
38, 958
12, 941
5,227
12, 901
6,118
12, 681
5,956
6,849
144
11, 987
.853
883
6,285
.853
230
5,364
.853
3,578
9,502
.853
307
6,548
.853
2,443
4.394
3,175
3,066
1,984
3,018
2,504
4, 8"0
2,823
1,909
2,525
30, 433
29,793
29, 754
29, 691
29, 843
204, 220 P 202, 100 f 201, 000 v 200, 600 P199, 100
2,501
P 2, 300
v 2, 400
p 2, 500
P 2, 400
6,918
v 7, 100
P 7, 100
P 6, 200
P 4, 600
194,801 P 193, 300 "191, 600 P 191, 000 p 192, 200
101, 508 P 100, 500 r 98, 300 P 97, 400 T 98, 000
65, 799 f 66, 100 v 66, 400 f 66, 800 P 67, 200
27, 494 P 26, 800 v 26, 900 v 26, 900 p 27, 000
41.8
26.9
34.3
23.9
35.1
24.4
37.1
28.3
35.4
26.0
30, 120
29, 951 r 30, 125
pl99, 100 p 200, 000 p 205, 000
p 2, 400
P 2, 500
p 2, 400
p 9, 700
p 5, 100
p 4, 600
P192, 100 P 192, 400 P 193, 000
P 97, 500 P 97, 200 p 97, 300
p 67, 600 p 68, 100 p 68, 400
P 27, 000 p 27, 100 p 27, 200
35.6
25.5
r
38.9
25.9
36.0
25.0
PROFITS AND DIVIDENDS (QUARTERLY)
Manufacturing corporations (Federal Reserve) :J
Profits after taxes total (200 corps ) mil of dol
Durable goods total (106 corps )
do
Primary metals and products (39 corps ) do
Machinery (27 corps )
do
Automobiles and equipment (15 corps ) do
Nondurable goods total (94 corps )
do
Food and kindred products (28 corps ) do
Chemicalsandallipdproducts (26corps ) do
Petroleum refining (14 corps )
do
Dividends total (200 corps )
do
Durable goods (106 corps )
do
Nondurable goods (94 corps )
do
Electric utilities, profits after taxes (Fed. Res.)t
mil of dol
Railways and telephone cos. (see p. S-23).
678
370
99
90
143
308
48
108
115
928
581
218
128
191
347
45
128
133
T
837
f 508
183
T
89
197
r
329
r
40
r
121
r
126
p
p
p
p
p
P
475
270
205
549
305
244
r
r
485
275
210
p 477
P 271
v 206
207
24^
288
T> 246
r
903
566
207
103
208
337
p 45
P 124
p 124
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 -
1,519
1,393
1,381
1,137
20
224
12
126
126
50
74
2
810
461
461
202
56
203
0
349
349
153
188
7
962
808
800
363
0
437
9
154
154
72
79
2
* 1, 381
i 1, 225
1,157
852
0
305
8
158
158
82
72
4
•873
629
601
292
130
179
28
311
311
90
172
49
1,520
1,197
1,197
758
46
394
0
323
323
44
269
9
1,185
1,016
949
560
3
386
67
169
151
16
130
5
1,114
1,005
1,002
624
13
365
4
109
109
25
81
2
1 069
939
899
480
0
420
40
129
129
6
105
18
Securities and Exchange Commission :J
1,168
6,436
1,331
Estimated gross proceeds, total
do
1 592
2,079
1,783
2,047
1,108
1 667
1 604
4 630
3 053
1 890
By type of security:
6,245
1,089
1,248
1,870
Bonds and notes, total
do
1,902
1,615
1,422
1,038
1 425
1 507
4 383
2 861
1 777
342
1,113
Corporate
_ _ _ _.
do
372
980
314
536
731
497
517
484
659
988
380
49
Common stock
do
158
46
170
49
119
116
123
116
124
165
159
82
Preferred stock
_ _ d o ..
33
29
6
37
58
47
51
20
62
82
35
33
31
By type of issuer:
1,304
421
455
Corporate, total
do
908
1 157
706
384
664
696
731
818
1 179
492
360
Manufacturing
_ _ . do
130
186
655
332
167
286
151
205
317
116
289
155
Public utility
do
109
240
168
351
219
44
261
249
216
228
406
342
198
25
Railroad. - .
- _ _^do
32
46
95
12
66
15
27
40
50
23
15
10
7
7
Communication
do
21
496
27
17
34
4
49
15
13
44
14
Real estate and financial. _ _ _ _ do
74
12
27
62
56
48
141
57
162
144
101
418
34
Noncorporate, total
do
5,132
747
876
1 171
1 119
890
724
886
849
908
3 899
1 873
1 397
U. S. Government._.
.do
544
444
4,898
531
547
611
494
480
491
3 244
503
1 454
884
State and municipal
do
226
201
428
294
219
389
392
390
405
349
650
'416
512
'1 Revised.
p Preliminary.
Includes International Bank securities not shown separately.
§Or increase in earmarked gold (—).
fRevised series. Data reflect change in number of reporting banks and centers; figures prior to May 1952 will be shown later.
9 Includes Boston, Philadelphia, Chicago, Detroit, San Francisco, and Los Angeles.
^Revisions for 1939—1st quarter of 1951 for manufacturing corporations and electric utilities and for January-March 1951 and January-March 1952 for SEC data will be shown later.
September 1953
SURVEY OF CUERENT BUSINESS
Unless otherwise stated, statistics through
1950 and descriptive notes are shown in the
1951 Statistical Supplement to the Survey
S-19
1952
July
August
September
1953
October
November
December
January
February
March
April
June
May
July
FINANCE—Continued
SECURITIES ISSUED— Continued
Securities and Exchange Commission^— Continued
New corporate security issues:
Estimated net proceeds, total
mil. of doLProposed uses of proceeds:
New monev, 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
do
New rnonev
. __
__ 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 monev
- do
Retirement of debt and stock
do
State and municipal issues (Bond Buyer):
Long-term
thoiis. of dol_.
Short-term
__do
1,285
413
447
1,140
378
897
655
694
684
806
715
1,161
482
1,218
' 1,040
178
57
40
10
8
10
276
210
66
127
117
5
6
9
367
278
89
68
46
11
10
12
893
635
259
237
86
148
3
11
293
221
72
51
32
13
5
34
780
661
120
74
45
28
635
381
255
51
27
23
1
g
630
438
192
37
6'2
481
131
68
24
757
•'32
225
30
10
13
17
18
1 046
614
432
91
23
64
4
24
445
371
74
30
16
14
43
603
495
108
46
19
25
2
6
354
327
24
233
231
3
46
46
0
493
493
C1)
72
42
27
127
85
35
107
103
4
94
10
85
21
21
0)
12
10
1
183
120
57
165
163
0
12
12
0
16
16
C1)
27
17
8
645
502
134
347
257
90
15
13
1
27
26
1
61
52
8
164
120
25
43
43
C1)
27
15
12
48
45
3
56
37
10
327
260
35
216
205
11
65
42
23
34
31
3
56
54
1
9g3
263
18
245
239
6
39
26
14
4
4
0
47
44
1
148
139
13
257
254
3
49
31
18
7
7
0
140
138
0
203
178
24
212
205
7
39
285
222
60
334
303
26
23
23
0
43
43
0
415
396
3
153
127
24
194
190
0
15
i^
0
142
129
1
312
305
4
223
201
17
24
24
0
13
12
r
1
162
152
1
245, 344
266, 630
211, 533
232, 288
473, 750
96, 518
309, 105
161, 739
229, 897
24 376
403, 043
292 085
391,872
294 085
362, 629
110 843
433, 142
333 219
348, 859
144 986
650,210
228 600
233
461
233
349
210
250
257
229
926
265
288
291
230
254
262
304
1Q8
252
185
259
183
281
307
586
254
610
1,387
692
1,126
1,338
675
926
1,333
692
891
1,316
692
860
1,347
706
878
343
1 362
724
920
1 345
732
908
1 350
730
871
1 513
744
966
1 594
738
1 068
1 671
673
1 193
282
1,684
653
1,216
1 664
650
1 161
I
00
49
10
35
114
78
28
397
355
21
15
15
0
7
0
99
94
CO
r
r
443, 040
151 384
I
7
?
9
0
14
14
(0
34
32
1
511,968
167 688
COMMODITY MARKETS
Volume of trading in grain futures:
Corn
Wheat
mil of bu
do
SECURITY MARKETS
Brokers' 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
Bonds
mil. of dol
do
__ do _
do
Prices:
Average price of all listed bonds (N. Y. S. E.),
98.43
98.14
95.30
97.46
98.19
total §
dollars
97 81
98.05
97 66
97 15
94 42
95 82
96 57
95 46
98.88
94 79
97.87
95.69
98. 57
98.62
98.25
Domestic
-do __
98 09
98.50
97 56
96 99
95 84
75.52
76.11
74.62
76. 12
75.97
Foreign
do
75 84
75 32
75 50
75 81
74 88
74 95
75 27
Standard and Poor's Corporation:
Industrial, utility, and railroad (Al+issues):
116.0
115.7
115.8
108.8
115. 2
114.5
115. 3
Composite (17 'bonds)
dol. per $100 bond.114. 7
114.0
109.8
110.7
111.7
113. 4
130.4
126.6
128.6
115.1
125.4
124.0
125.3
125.0
Domestic municipal (15 bonds)
do __
122 8
115 1
119 4
121 6
121 5
98.40
91. 56
96.86
97.09
96. 96
95.68
96.44
U. S. Treasury bonds, taxable
do
96.32
95.28
91.59
93. 25
92.98
94.31
Sales:
Total, excluding U. S. Government bonds:
All registered exchanges:
51, 585
69, 942
56, 237
100, 325
76, 955
73, 183
94, 402
Market value __
thous. ofdoL
75, 146
61 993
70, 039
56 270
76 726
71 709
83, 260
58, 329
61, 325
101, 867
83, 953
Face value
do
85, 250
85 722
105 865
76 831
72 496
88 128
64 949
90 067
New York Stock Exchange:
50, 210
68,208
54, 113
54 572
71, 599
98, 416
74, 892
Market value
_ _
do
73 014
92, 009
68 483
60 227
74 547
69 691
56, 686
80, 340
58, 855
81, 988
99, 742
82, 455
Face value
do
102 843
74 823
82 187
69 753
62? 723
85 245
83 115
New York Stock Exchange, exclusive of stopped
62, 242
68, 751
61, 127
59, 136
78, 042
69, 082
sales, face value, total §
thous. of dol_86, 042
80, 397
60, 288
62, 085
55, 874
74, 757
76, 976
0
0
1
26
0
0
0
U. S. Government
_.
___do_ __
0
o
45
25
34
68, 751
62, 242
61, 127
59, 136
78, 016
69, 057
Other than U. S. Government. total§
do _
80, 397
85, 997
60,288
62 051
74 756
76 976
60, 659
55, 573
53, 624
52, 793
71,608
79, 101
Domestic
_
do _.
73, 417
61, 194
54 611
52, 940
64 778
65 013
8,024
6,544
6,341
7, 395
7 372
6,269
6 912
7,777
Foreign
do
7 324
6, 819
9 650
12 002
Value, issues listed on N. Y. S. E.:
99, 454
99, 712
100, 551
100, 349
100,256
100, 116
Market value, total, all issues§
mil. of dol_. 100, 273 100, 537
98, 985
100, 117
99, 535
98, 562
100, 279
98, 401
97, 576
97, 838
98, 621
98, 656
98, 494
98, 276
98, 200
98, 211
Domestic
- --- do_
97 094
97 P38
96 662
98 419
1,411
1,439
1,447
1,440
1,448
1,492
1.430
Foreign
do
1,428
1,432
1 421
1 425
1 429
1 390
104, 357
101,871
102, 405
102,315
102, 444
102, 341
102 502
102 510
Face value total all issues §
do
103 066
103 251 T 104 830
103 055
104 651
r
101, 966
99, 516
99, 999
99, 963
100, 091
100, 025
99, 993
100, 109
Domestic
-- - do __
102 432
100 665
100, 666
102 284
100 853
1,905
1,891
1,902
1,902
1. 896
1,891
1, 967
1,898
Foreign
do
1 898
1 901
1 890
1 899
1 867
Yields:
3.17
3.20
3.19
3.18
3 22
Domestic corporate (Moody's)
percent
3.19
3.22
3 61
3 31
3 26
3 53
3 40
3 55
By ratings:
2.95
2.95
2.94
2.98
3.02
3.01
Aaa.__
.__
_-. _ _ _ _ do
2.97
3 40
3 12
3.07
3 23
3 34
3 28
3.04
3.07
3.06
3.06
Aa
___ _ _._ do _
3. 05
3.08
3. ©9
3 14
3 50
3 18
3 41
3 29
3 42
3.19
3.22
3.24
3.21
3 22
A
do
3 25
3.24
3 36
3 58
3 67
3 44
3 30
3 62
3.50
3.52
3.51
3.53
3.51
Baa _
___ do _ _ .
3.51
3. 54
3 53
3 86
3 57
3 78
3 65
3 86
By groups:
2.99
3.02
3.05
3 04
3.00
3 05
Industrial
do
3 07
3 11
3 16
3 48
3 '~>7
3 39
3 42
3.20
3.20
3.19
3.20
3.19
3.22
3 23
Public utility - __.
_._do ._.
3 29
3 57
3 62
3 33
3 44
3 56
3.33
3.34
3.36
3.37
3.34
3.39
Railroad _
do _ _
3.36
3 39
3 43
3 63
3 51
3 73
3 67
Domestic municipal:
2.15
2.37
2.34
2.28
Bond Buyer (20 bonds)
do. __
2.38
2 38
2 46
2 68
2 81
2 63
2 65
3 04
2 92
2.12
2.22
2.42
2.40
2.33
Standard and Poor's Corp. (15 bonds) ___do
2.40
2.47
2.61
2.54
2.73
2.63
2.99
2.99
2.61
2.71
2.71
U. S. Treasurv bonds, taxable
do
1-4 OQ
9 97
.3 09
9 QQ
2.89
2.80
2.83
2.75
2.74
2.70
r
Revised.
1 Less than $500,000.
t Re visions for January-March 1951 and January-March 1952 will be shown later.
§Sales and value figures include bonds of the International Bank for Reconstruction and Development not shown separately; these bonds are included also in computipg average price of
all listed bonds.
SUEVEY OF CUEKENT BUSINESS
S-20
Unless otherwise stated, statistics through
1950 and descriptive notes are shown in the
1951 Statistical Supplement to the Survey
September 1953
1953
1952
July
August
September
October
November
December
January
February
March
April
May
June
July
FINANCE—Continued
1
SECURITY MARKETS— Continued
Stocks
Cash dividend payments publicly reported:}
Total dividend payments
mil. of dol__
Finance
_do
Manufacturing
do
Mining
-do
Public utilities.
Communications
do
IT pat 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)
do
Railroad (25 stocks)
do.- Bank (15 stocks)
do
Insurance (10 stocks)
do
Price per share, end of month (200 stocks) __do
Industrial (125 stocks)
do
Public utility (24 stocks)
do
Railroad (25 stocks)
do
Yield (200 stocks)
percent
Industrial (125 stocks)
_-do
Public utility (24 stocks)
do
Railroad (25 stocks)
_ _ _
_ -do.. Bank (1 5 stocks)
do
Insurance (10 stocks)
- _do_Farnings per share (at annual rate), quarterly:
Industrial (125 stocks)
dollars
Public utility (24 stocks)
do
Railroad (25 stocks)
do
Dividend yields, preferred stocks, 11 high-grade
(Standard and Poor's Corp.)
percent- .
Prices:
Do^-Jones & Co., Inc. (65 stocks). dol. per share, _
Industrial ( 3 0 stocks)
_ _ _ _ _ d o ._
Public utility
(15 stocks)
do _ _
Railroad (90 stocks)
do
Standard and Poor's Corporation:
Industrial, public utility, and railroad:§
Combined index (480 stocks) _ . _ 1935-39 = 100. .
Industrial total (420 stocks)
do
Capital eoods (129 stocks)
do
Consumers' goods (195 stocks)
do
Public utility (40 stocks) _ _
do
Railroad (20 "stocks)
do __
Banks, N. Y. C. (16 stocks)
do
Fire and marine insurance (17 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.ofdoLShares sold
- ..thousands,.
Exclusive of odd lot and stopped sales
(N Y Times)
thousands
Shares listed, New York Stock Exchange:
Market value, all listed shares
mil. of del. .
Number of shares listed
millions
546. 7
128. 6
199.2
6.7
89 8
58.7
231. 5
51.0
105. 5
3.3
1, 166. 5
78.2
763. 5
87.9
540. 5
105 2
203. 5
8.0
253. 0
64.7
115 2
2.1
1,736. 1
195. 2
1,045 5
141. 9
548. 1
125. 6
170 5
5.0
181. 3
44.9
65 0
2.9
1,251.1
81.4
821.9
86.9
561.2
103. 5
190.1
7.3
221. 5
49.0
100 4
2 6
1, 249. 6
87. 6
802 2
87 3
576.0
137. 0
200 6
5.6
95 0
60. 9
14. 6
40.3
13.0
1 0
52. 2
2.9
8 1
6.8
49 7
92 6
88.4
.9
42.0
6.9
15. 5
3.2
46.9
89.0
57.7
40.3
27.0
105. 0
63.8
30.6
50.1
1 0
61.8
10.8
3.1
7.6
6.0
51 1
94.6
56. 4
49.0
21.4
104 3
66 3
14.1
39.2
43. 6
95 7
64.3
18 2
57. 0
11.8
12 2
38. 6
12.9
10.3
4.5
46. 9
76.8
42.4
47. 2
23.6
3.96
4.22
1.91
2.69
2.64
2.88
3.96
4.22
1.92
2.71
2.64
2.87
3.95
4 20
1.92
2.81
2. 03
2.87
3.95
4 189
1 9
2. 85
2 68
2.88
3.93
4 17
1 92
2.87
2 66
2.98
3. 93
4 10
1.92
2 8"
2 75
2. 98
3. 95
4 16
1.93
2 88
2 84
2.99
3.95
4 16
1.94
2.91
2.86
3.01
3.97
4. 16
1.95
3.01
2.89
3.07
3.98
4 17
1.96
3.01
2 89
3.09
3.98
4 17
1.98
3.01
2.89
3.09
3.97
4 16
2.01
3.03
2.89
3.09
3.98
4 15
2 01
3.09
2 89
3 10
73.47
78.01
35.09
47.97
72. 57
76. 52
36. 15
47.70
71.09
74. 58
36. 34
46. 57
71.02
74 35
36 25
46 43
74.42
78 20
37. 36
49 74
76. 66
80.89
37. 85
51.66
76. 69
80. 37
38.40
52. 19
75. 60
79. 15
38. 21
51. 17
74. 13
77. 64
37.81
49. 56
72. 35
75. 56
36. 96
48.48
72. 24
75. 45
37.08
48.97
71.14
74. 28
36. 02
48. 40
72.87
76 24
36. 81
49 03
5.39
5.41
5.44
5.61
4.52
3.21
5.46
5. 51
5.31
5.68
4.39
3.15
5 56
5. 63
5.28
0. 03
4 23
3. 18
5 56
5 62
5 30
6.14
4 29
3.15
5 28
5. 33
5.14
5.77
4 19
3.10
5 13
5.14
5.07
5 56
4 18
2 99
5 15
5.18
5. 03
5 52
4 29
3.07
5 22
5.26
5.08
5.69
4 32
3. 17
5 36
5. 36
5. 16
6.07
4 44
3.29
5 50
5 52
5.30
6.21
4 60
3.41
5 51
5. 53
5.34
6. 15
4 72
3.41
5 58
5. 60
5. 58
6.26
4 75
3.50
5 46
5.44
5 46
6.30
4 70
3.40
.8
49.7
6.4
6 76
2.61
7.86
r
8 54
2 62
11. 71
8.9
7 90
2 75
8.25
1 29
2 70
6.73
4.09
4.12
4.12
4.16
4.12
4.11
4.16
4.21
4.23
4.33
4.38
4.47
4.37
106. 25
276. 04
49.86
101. 85
107.10
276. 70
50. 75
102. 95
105. 29
272. 40
50. 30
100. 43
103 92
267. 77
49. 59
99. 83
107. 25
276. 37
51 . 04
103.19
111. 67
285. 95
52. 06
109. 85
112.25
288. 44
52. 20
109. 99
111. 21
283. 94
52. 57
109. 03
112.41
286. 79
53. 19
110.24
107. 52
275. 28
51. 59
104. 05
108.07
276. 84
50 97
105. 58
104. 42
266. 88
48. 66
103 09
106. 08
270 32
49 03
105 68
192.1
209.7
192.7
173. 5
116. 9
175. 2
112. 8
215.4
191.1
207.8
191.4
174.8
118.6
175.3
114.7
215. 4
188.2
204.2
187. 6
172.8
118.5
171.1
117.6
214. 5
183.4
198.4
182.6
1 69. 5
117.4
166. 9
120.1
21 5. 2
189.8
205. 5
190.2
175. 7
120.9
172.4
121.5
223. 1
197.0
213.7
198.5
183. 2
123.3
184.6
1 25. 1
230. 5
197. 6
214.3
200 4
184.7
124. 0
185. 2
128. 3
231.0
195. 9
212.0
197.4
183.4
124. 4
181.4
128. 2
223. 8
198.0
214. 5
199.8
185. 3
124.9
184. 5
128.1
223 9
190.0
205. 5
191 8
77.8
21.5
173.3
22.3
216. 0
189. 6
205. 2
192. 3
177. 6
120.8
174.2
121.3
214. 1
182. 8
197. 5
183 7
170.7
117.2
169. 3
115 3
205. 1
185.5
200 1
185 9
171.7
119 2
173 7
117.6
208 5
1,317
61, 433
1,154
41, 576
1,198
48, 989
1,316
62, 389
1,331
56, 903
1,906
78. 990
1, 661
74, 299
1,376
53, 534
1, 906
75,473
1,783
83, 729
1, 325
58, 380
1,290
63, 844
1 073
42, 528
1,122
45, 916
978
29, 433
1,012
35, 165
1,121
47, 653
1,145
43,340
1,647
57, 885
1,417
55, 897
1, 173
38, 540
1, 616
51,812
1, 541
64,111
1, 129
43. 936
1, 106
49, 757
903
28 809
24, 115
20, 905
24, 135
25. 981
30, 239
40.516
34, 087
30,209
42, 472
34, 370
25, 767
26, 075
22 234
115,825
2,728
114, 506
112,633
2, 769
1 1 2, 1 52
2,773
117.363
2.777
120, 536
2.788
120, 483
2,802
119, 749
2,814
118,223
2,819
114, 862
2 840
115.371
2,862
113,306
2,878
115, 886
2 882
INTERNATIONAL TRANSACTIONS OF THE UNITED STATES
BALANCE OF PAYMENTS (QUARTEKLY)J
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
do
do
_do
4, 607
3 439
439
729
5 355
4 073
592
690
3,942
2, 698
102
1,142
1068
3, 000
126
942
>• 5 425
4 256
* 440
r
799
5 749
4 489
r
4, 037
2, 984
r
111
'942
4, 305
3, 123
107
1 075
r
r
463
790
+P65
+1,287
r
+1, 388
+1 437
-1, 298
-106
-1,192
-1,4(58
— 127
-1,341
' -1,908
-2,020
129
-1,898
U.S. long- and short-term capital (net) , total do
Private
_
_ _
_
- do _
Government.,
_.. . __do ___
— 160
+39
-199
— 975
— 347
+ 72
r
—209
'r219
+10
Foreign long- and short-term capital (net)
+769
+152
r +155
Balance on goods and services
Unilateral transfers (net) , total
Private
Government
_ _ d o .._
do
do _
do
do
Increase (-) or decrease (+) in U. S. gold stock
mil. of doL_
r —120
r -1.788
+98
+86
— 58
+326
+274
+7
+603
+1°8
Errors and omissions
__do
+17
+30
' -29
+101
r
Revised.
{Revisions for dividend payments for January 1951-January 1952 are shown on p. 6 of the April 1953 SURVEY; those for balance of payments for the 1st and 2d quarter of 1952 on pD 12
of this issue of the SURVEY.
'
*
§Number of stocks represents number currently used; the change in the number does not affect the continuity of series.
SURVEY OF CURRENT BUSINESS
September 1953
Unless otherwise stated, statistics through
1950 and descriptive notes are shown in the
1951 Statistical Supplement to the Survey
S-21
1953
July
September
August
October
November
December
January
February
May
April
March
July
June
INTERNATIONAL TRANSACTIONS OF THE UNITED STATES—Continued
FOREIGN TRADE
Indexes
Exports of U. S. merchandise:
Quantity
1Q36-38— 100
Value
do
Unit value
do
Imports for consumption:
Onantitv
do
Value
do
TJnit value
do
Agricultural products, nuantity:
Exports, IT. S. merchandise, total:
Unadjusted
1924-29 = 100
Adjusted
do
Total, excluding cotton:
Unadjusted
do
Adjusted
do
Imports for consumption:
Unadjusted
do
Adjusted
do
202
416
206
217
441
203
243
4S8
205
243
494
203
239
483
202
280
566
203
253
519
205
239
486
204
274
562
205
279
567
203
289
587
203
279
561
201
144
409
284
140
398
283
151
430
284
169
471
279
138
388
280
180
498
277
162
445
276
149
414
278
174
484
277
175
486
278
158
434
276
164
451
275
56
75
65
73
77
62
93
70
88
70
110
92
96
96
78
95
90
105
82
102
77
99
70
9o
102
130
112
112
117
93
142
113
125
109
151
138
146
153
117
145
141
167
130
156
113
134
105
131
101
113
108
117
111
116
116
119
90
92
128
126
121
116
101
99
121
108
126
119
104
106
105
113
6,970
7, 688
7,769
7,580
7 421
7 028
8,879
6 393
7 847
5 720
9 629
5 109
8 814
4 267
7,703
4 663
8, 644
6,292
8,342
1,213
1,186
1,390
1, 276
43, 837
37, 328
159,489
246,105
244, 723
132,057
127, 770
39 067
204 719
307 509
227, 773
144, 151
136 712
Shipping Weight
Water-borne trade:
Exports incl reexports ©
General imports
thous of Ions tons
do
r
8,913
Value
Exports, including reexports, total f
mil. of dol..
By geographic regions:
Africa
thous of dol
Asia and OceaniaA
do
EuropeA
do
Northern North America
do
Southern North America
do
South America
do
Total exports by leading countries:
Africa:
JTcrypf,
Union of South Africa
Asia and Oceania:
Australia including New Guinea
British Malava
ChinaQ
India and Pakistan
Japan
_
Indonesia
Republic of the Philippines
Europe:
France
Germany
Italy
Union of Soviet Socialist Republics
United Kingdom
North and South America:
Canada
Latin-American Republics total
Argentina
Brazil
Chile
Colombia
Cuba
..
1,027
1,086
1,225
34, 649
39, 291
1 50, 509
202,129
220, 327
1 27, 060
136, 460
44, 841
147,461
223, 61 3
245, 657
123,826
133, 467
5, 563
14, 291
6, 742
1 5, 085
12,313
14, 703
4, 556
13, 506
7,883
2,171
12 222
2,900
16 255
2,862
9,970
2, 436
0
0
14, 646
13,914
40,219
13,650
42,514
14,079
51,195
1 0, 960
22, 330
21,383
147,256
175,570
210,826
1 39, 068
1 31 , 629
dO
3, 564
do
13,175
do
do
do
do
do
do
do
10,141
do
do
do
do
do
do
do
do
do
do
do
do
Venezuela
do
Exports of U S merchandise totallf mil of dol
By economic classes:
Crude materials
thous. of dol
Crude foodstuffs
_ _
_ . do
Manufactured foodstuffs and beverages do
Semimanufactures 9
do
Finished manufactures 9
do
By principal commodities:
Agricultural products total
do
Cotton unmanufactured _ _ _ _ _ d o
Fruits vegetables, and preparations do
Grains and preparations. _ . __ _
do _.
Packing-house products -._
_ _ _ _ do
Tobacco and manufactures*
do
Nonagricultural products, total
do
Automobiles, parts, and accessor iesfd"1 do
Chemicals and related products^d" - --do
Coal and related fuels*
do
Iron and steel-mill products. _ __. ___ do
Machinery, total§c?
do
Agricultural. _ _ _ _ . _
_ _ do .
Tractors, parts, and accessories!
do
Electrical §d*
..
do
Metalworking
do
Other industrial cf
do
3,129
0
18,130
34, 1 38
12,756
23, 020
1 7, 052
20,156
19,318
0
19, 474
36, 644
17, 900
0
171,204
245,180
256, 042
1 44, 1 50
133, 760
1,196
1.379
1,394
1,441
r 1, 374
401
336
534
543
177
932
35, 516
164, 827
212, 663
230,915
121, 660
116, 192
49, 032
185, 247
253, 179
266, 730
132, 373
118. 107
44, 381
169, 947
249, 105
285, 902
133, 837
122, 933
44, 794
178, 304
246, 386
294, 172
136, 492
130, 828
36, 772
156, 806
218, 145
290, 129
128, 061
128, 519
2 563
16 871
6 733
19 463
3 316
17, 221
4, 739
24, 412
4,454
18, 194
3, 958
18, 365
4,000
16, 454
17 271
*> 852
11 330
2 274
9 871
2, 636
9 730
2,505
7 947
3, 264
9, 686
2, 560
7,495
2, 205
17
50
10
30
910
383
477
814
26, 761
40, 758
7,474
24 829
28, 332
50, 558
7,549
28, 432
10, 750
50, 826
8,759
29 245
12,898
50, 255
6, 157
39, 177
26, 562
26, 532
28, 004
39 882
29. 471
27, 602
3
4
53 551
43, 743
39, 048
285, 901
238 235
5,942
23, 814
6, 506
24 231
30, 827
51 980
43, 843
1,381
294, 165
251, 807
8,214
24, 366
7,118
26, 140
290, 101
242, 493
14, 177
24, 661
o
44
177
266
228
131
113
o
o
0
54, 697
9,984
21 517
1 3, 009
23, 988
29 825
52, 849
11 81 '>
27 960
1 8, 654
26 941
47,184
?3 781
26, 555
33, 556
23, 480
40 723
40 545
40 355
30 604
33 89 c>
36 574
26, 455
28, 495
17, 124
34, 598
26, 426
24, 446
9, 964
21 , 876
33,714
cn
o
0
0
14, 629
44,912
9, 266
33, 715
27, 339
25, 755
23, 474
4
2
1
2
32, 800
33, 914
50, 950
52, 758
45, 330
62 098
59 783
47 648
61. 702
210, 764
^53 782
7, 730
40, 082
8,171
220, 256
248, 853
1 6, 561
35, 831
8, 054
20, 582
36, 946
49 407
35, 387
1,074
245, 647
242, 785
13, 761
29. 758
1 0, 41 2
256, 027
261 216
11,241
28, 926
1 0, 1 69
19 004
45, 828
52 510
43, 536
1,205
244, 723
244, 01 9
10, 023
227 771
264 844
8 198
30, 439
13 939
19 441
40, 428
54 0^7
43, 165
1 380
228 533
2^0 130
6 349
23, 783
5 479
19 138
39 304
51 858
39 621
1 265
230,913
221 524
5, 413
23, 485
5, 639
20, 121
35, 961
46 807
41, 075
1, 184
266,
235,
6,
22,
87, 067
73, 093
59, 306
108,165
686, 344
114, 752
79, 811
49, 214
146,917
80,212
1 80, 358
116,300
65, 1 96
135 152
883, 399
134
109
63
106
850
110,
86,
50,
108
827,
576
681
871
222
542
118, 259
106, 207
56. 587
116, 973
971,317
139, 168
127, 324
75, 029
67, 762
82, 490
55, 889
53, 977
53, 747
113,812
112 146
113, 055
999, 655 1, 046, 671 1, 006, 585
170, 107
186, 682
10,287
20, 563
85, 396
13,414
21,070
21,048
323 083
90, 505
22, 444
132, 589
13,419
29, 264
268 700
54 468
19 149
127, 983
13, 272
24 919
216, 399
47, 294
17, 838
93, 631
13, 604
19, 003
250, 491
45, 064
20, 191
114, 364
14, 242
33, 113
223, 535
38, 396
17, 925
89, 567
15, 236
38, 129
996 200
124, 610
57, 393
24 778
45, 804
967, 493 1, 118, 851 1, 157, 951 1, 209, 537 1, 171, 602
151, 579
142, 195
162, 186
124, 383
134, 401
66, 609
71,700
68, 460
56, 273
70, 433
33, 831
17, 651
18, 294
29, 329
35 556
45, 860
46, 799
43, 436
43, 070
41, 841
238 348
9, 191
26, 659
67 966
28 274
97 985
223, 914
10, 345
27, 561
62, 148
22 262
92, 975
0)
18,172
44, 987
52 466
38, 451
1,014
843, 868
101,772
62, 640
38, 471
29, 866
222, 956
13, 394
22, 931
55, 808
20,115
102,110
0)
116,407
714, 060
19, 040
82, 570
14, 330
28, 160
0)
17,637
39, 606
46 ?75
41 786
1,215
25,010
10, 083
20, 462
41,127
51 213
41 , 570
1,176
154,670
168,049
50, 460
124 355
813,052
97, 038
61, 606
133 436
758, 113
89, 325
58, 850
123,189
736, 990
220, 983
50, 569
264, 622
271,226
67,142
21,924
16,818
61,290
21,026
98, 036
13, 022
31, 980
1
90, 291
10,706
35, 629
108, 755
887,
94,
63,
44,
563
098
844
549
41,410
994, 013
940, 240
97, 815
63, 237
35, 400
66, 321
905,177 1,057,32?
93, 992
59, 151
35, 1 54
59, 779
114, 891
61, 287
26, 009
67, 719
217, 861
13, 102
17, 044
59, 891
20, 397
99, 949
207, 643
224, 431
8,201
20, 451
57, 253
24, 906
103, 664
204, 437
237, 332
7,389
17, 481
55, 373
21,126
93, 412
9,442
23, 442
70, 475
24 248
100, 384
115,751
62, 402
41,334
55, 805
8,003
16, 689
56, 408
21,748
95, 578
13,345
30, 816
465
465
590
691
688
728
187
265
473
9.056
19, 825
38, 904
54 127
41, 051
1,369
269, 816
12. 973
32, 396
72, 239
29, 560
112,397
(i)
34,315
47 794
46, 836
1,431
v 1, 364
7,227
24 441
32, 025
52 218
41, 671
1,368
132,539
270, 488
15, 201
33, 468
75, 184
24, 691
112, 269
221, 031
48, 278
22, 566
76, 556
14,890
30, 504
274, 136
16, 278
32, 954
74, 554
26 093
113,660
196, 193
41, 340
23, 686
69, 467
15, 168
24, 845
263 204
14, 705
32, 890
72 291
22 818
110 938
71,352
64, 260
60, 483
Petroleum and products
do
62, 407
59,131
67, 092
73, 825
63, 073
54, 787
56, 083
54, 489
56, 958
50,822
42, 697
50, 622
58, 572
55, 496
Textiles and manufactures
do
53, 852
52, 941
55, 811
58, 780
50, 462
58, 193
52. 234
r
Revised.
1 Less than $500.
©Excludes "special category" shipments and all commodities exported under foreign-aid programs as Department of Defense controlled cargo.
JTotal
exports and data by economic classes and commodities include shipments under the Mutual Security Progiam. Total MSP shipments are as follows (mil. dol): July 1952-July 1953 respectively—136.8; 170.3; 247.6; 173.1; 195.0; 275.8; 268.1; 272.3; 328.3; 339.8; 362.6; 371.1; 396.1.
ABeginning 1952, Turkey is included with Europe; previously, with Asia.
©Including Manchuria beginning January 1952. 9 Data for semimanufactures reported as "special category, type I" are included with finished manufactures.
*New series. Data prior to August 1951 will be shown later.
§"Special category" exports, formerly excluded, are now included in
data back to January 1952; for total machinery and electrical machinery, however, such exports are only partially included.
cTData beginning January 1951 have been adjusted to conform to the 1952 revision of the export schedule.
SUKVEY OF CURRENT BUSINESS
S-22
Unless otherwise stated, statistics through
1950 and descriptive notes are shown in the
1951 Statistical Supplement to the Survey
September 1953
1952
July
August
September
1953
October
November
December
January
February
March
April
May
June
July
INTERNATIONAL TRANSACTIONS OF THE UNITED STATES— Continued
FOREIGN TRADE—Continued
Value—Continued
General imports, total
By geographic regions:
Africa
Asia and Oceania^
r
thous. of dol_. 839, 084
817, 016
877, 288
918, 279
803, 849
1,051,064
927, 221
856, 190
1,004,202
1,012,155
901, 626
47, 189
158, 033
157, 379
191, 537
99, 869
185, 077
35, 252
160, 494
148, 151
183, 483
90, 059
199, 577
30, 281
150, 032
170, 630
206, 672
85, 695
233, 978
35,015
165, 566
190, 603
219, 112
86, 031
221, 746
35, 596
124, 157
175, 506
201, 716
83, 799
183, 074
56, 763
185, 176
199, 816
229, 070
134, 790
245, 449
54, 010
170, 556
185, 553
183, 895
136, 805
196, 403
45, 121
140, 455
172, 260
185,017
121,717
191, 620
48, 399
154,988
214, 588
214, 918
150, 506
220, 802
61, 716
177, 171
207, 802
212, 304
147, 466
205, 696
50, 510
164, 010
194, 857
210, 185
103, 991
178, 074
44, 831
175, 200
200, 047
222, 790
101,994
188, 900
7,548
8,275
2,460
7,777
423
8,287
323
6,858
1,851
7,414
7,739
6,979
6,840
9,633
2,334
9,734
2,328
9,115
4,554
7,289
2,497
5,499
1,262
7,786
10, 814
21,013
1,424
25, 296
19, 001
19, 227
26, 019
8,771
23, 100
1,099
26, 374
17, 985
24, 676
23, 484
9,302
21, 632
590
24, 231
23, 629
18, 914
19, 024
8,137
19, 941
1,341
24, 912
24, 631
22, 755
18, 873
6,685
20, 328
518
19, 926
20, 924
13, 682
13, 828
24, 633
30, 928
256
27, 543
24, 666
21, 299
15, 451
15, 888
24, 550
678
27, 198
23, 045
19, 485
19, 429
14, 347
16, 959
818
19, 037
15, 439
18, 854
20, 874
6,965
19, 848
571
23, 865
22, 034
18. 547
19, 708
13, 931
23, 325
1,196
26, 082
22, 330
19, 347
23, 937
11, 292
20, 540
499
21, 935
21, 150
18, 023
25, 929
12, 528
19, 247
265
22, 579
22, 563
22,056
34,882
12, 725
16, 954
12, 702
1,535
40, 374
12, 485
16, 668
12, 557
1,241
35, 789
11, 765
19, 133
10, 998
1,617
42, 975
15, 493
23, 001
17, 251
1,376
46, 041
12, 569
23, 810
14, 128
982
38, 609
14, 259
22, 743
16, 591
559
42, 722
14, 346
20, 991
18, 504
810
37, 495
13, 023
17, 675
10, 187
367
44, 698
17, 379
28, 071
15,381
2,005
51, 361
18, 784
26, 227
12, 123
1,128
46, 934
14, 409
22, 948
13, 209
876
45, 656
17,905
25, 487
11,549
1,131
44, 400
190, 889
269, 548
15, 112
49, 606
22, 828
33, 526
36, 722
25, 755
32, 731
838, 175
183, 017
278, 496
11, 428
63, 125
31, 031
35, 735
42, 352
26, 402
31, 717
815, 618
205, 876
306, 625
16, 444
88, 896
36, 518
36, 324
37, 109
25, 989
34, 804
882, 065
218, 769
287, 196
19, 574
76, 739
31, 261
30, 066
24, 447
29, 511
32, 964
966, 110
201, 634
250, 416
15, 737
57, 728
27, 782
28, 044
20, 284
33, 160
32, 574
795, 493
229, 038
356, 042
22, 245
81,685
36, 922
41, 970
26, 418
51,577
35, 804
1,021,449
183, 882
311, 145
22, 750
57, 916
24, 671
33, 519
36, 607
41, 625
34, 575
913, 589
184, 973
294, 690
15, 042
58, 576
26,314
31, 029
32, 773
37, 969
34, 751
848, 274
214, 909
351, 079
20, 929
67, 602
28, 143
37, 494
48, 798
44, 213
39, 259
991, 987
212, 273
337, 577
18, 549
59, 677
27, 304
43, 764
50, 079
39, 573
33, 573
997, 703
210, 174
266, 724
14, 577
43, 197
27, 170
35, 066
40, 255
26, 993
37, 208
891, 102
222, 624
274, 477
16, 093
48, 619
27, 170
34, 121
39, 495
28, 774
34,216
925, 613
214, 846
149, 360
97, 221
201, 314
175, 433
209, 864
144, 514
97, 640
201, 947
161, 652
205, 860
177, 241
102, 314
220, 850
175,801
268, 704
162, 006
89, 410
243, 723
202, 268
181, 802
152, 094
74, 815
208, 081
178, 701
246, 866
229, 704
79, 974
274, 209
190, 696
235. 974
190, 486
85, 464
225, 958
175,707
208, 540
175, 810
76, 306
221, 835
165, 788
234, 071
207, 899
106, 064
242, 996
200, 958
223, 930
215, 706
104, 218
260, 132
193, 717
219, 125
150, 638
99, 319
239, 091
182, 928
228, 192
148, 196
105, 274
260, 284
183, 867
329, 783
10, 161
95, 442
5,832
33, 445
43, 724
27, 645
508, 391
7,196
337, 072
6,871
99, 155
5,298
40, 999
44, 526
23, 929
478, 545
5,790
360, 530
6,344
126, 550
3,935
30, 996
40, 161
25, 086
521, 535
4,924
371,240
2,897
109, 590
4,852
32,613
19, 528
63, 073
594, 870
7, 035
290, 160
8,653
94, 992
3,728
27, 077
13, 708
16, 719
505, 333
2,611
410, 680
24, 650
149, 133
5,437
41,921
17, 924
27, 549
610, 770
8,585
382, 326
20, 084
123, 448
5,315
35, 465
33, 282
38, 969
531, 263
7,578
335, 265
15, 120
121, 604
4,789
28, 816
31, 237
29, 129
513, 014
5,538
405, 850
13, 101
150, 361
5, 936
33, 458
44, 450
30, Oil
586, 138
9,789
422, 220
17, 662
148, 425
8, 765
33, 938
44, 531
29, 572
575, 483
6,915
331, 416
17, 390
87, 985
8,110
29, 106
42, 786
24, 240
559, 686
5,529
328, 978
17, 282
88, 607
9,162
30,217
49, 431
22, 192
596, 635
6,468
126, 982
42, 361
32, 037
21, 546
50, 191
54, 547
109, 596
42, 841
28, 852
23, 718
47, 359
51, 754
114, 460
47, 940
23, 344
26, 390
49, 899
52, 230
122, 912
41, 848
30, 693
27, 071
51,003
64, 479
103, 248
40, 714
20, 980
27, 323
47, 937
53, 979
143, 311
49, 819
26, 806
29,639
53, 604
71, 782
115, 429
34, 879
30, 722
25, 894
46, 106
65,112
119, 714
43, 561
24, 531
24, 219
43, 841
57, 929
123, 092
36, 298
29, 169
24, 039
49, 808
64, 576
127, 389
47, 099
24, 139
23, 677
51, 661
56, 821
118, 906
44, 041
22, 652
25, 003
48, 600
62, 633
137, 901
52, 083
23, 259
27, 082
50, 828
61, 049
do
do
EurnppA
do
Northern North America
do
Southern North America
do
South America
do
By leading countries:
Africa:
Egypt
do
Union of South Africa
do
Asia and Oceania:
Australia including New Guinea
do
British IVTalaya
do
ChinaO
do
India and Pakistan
do
Japan
do
Indonesia
do
Republic of the Philippines
do
Europe:
France
do
Germany
do
Italy
do
Union of Soviet Socialist Republics
do
United Kingdom
do
North and South America:
Canada
_- do
Latin-American Republics total
do
Argentina
.
_
do
Brazil
do
Chile
do
Colombia
do
Cuba
do
Mexico
do
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
Cocoa or cacao beans incl shells
do
Coffee
do
Hides and skins
do
Rubber crude including guayule
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.
v^opper, incl. ore and manutactures. o
Paper base stocks
Newsprint
Petroleum and products
do
do
do
933, 763
p 926, 000
TRANSPORTATION AND COMMUNICATIONS
TR AN SPORTATION
Airlines
Operations on scheduled airlines:
Miles flown, revenue
thousands
Express and freight carried
short tons
Express and freight ton-miles flown thousands
Mail ton-miles
flown
do
Passengers carried revenue
do
Passenger -miles flown revenue
do
36, 475
11 612
5,115
2,012
1,081,742
35, 566
36, 213
i 55, 643
13, 720
15 826
12, 475
5,731
5, 225
5,201
2,128
2,140
2,183
1,142,731 1, 121, 868 1,119,674
36, 612
34, 211
35, 632
33, 836
37, 707
35, 931
39, 517
37, 681
39, 550
i 72, 363
13 133
14 566
14 459
14 967
16 591
14 065
13 992
14 033
5,346
5, 554
5,971
5,574
5,557
7,947
5,829
5,874
1,845
2,059
1,879
1,828
2,385
1,839
2,265
2,238
972, 158 1, 018, 400 1,040,706 1, 000, 839 1, 154, 796 1,206 462 1,218 245 1, 320, 710
Express Operations
Transportation revenues*
Express privilege payments*
thous. of dol
do
29, 495
10. 409
30, 239
10, 852
33, 934
13,819
35, 727
15, 295
32, 426
11,937
43, 76S
17, 782
30, 918
11, 253
29, 977
10, 698
35, 475
14, 210
33, 121
13 527
31, 032
11 410
32, 613
12 845
. cents
- millions
thous of dol
11. 4477
916
117,300
11. 7810
11.9148
969
119, 000
11.9465
1,042
133, 500
12. 1776
12.2311
1, 053
145, 400
12.3114
953
127, 300
12. 4184
12. 4428
1,004
130, 900
12. 4988
977
129 200
12. 5596
972
126 600
121, 100
Local Transit Lines
Fares, average cash rate
Passengers carried, revenue _
Operating revenues
914
121, 800
959
127, 700
892
120, 300
12. 5961
927
12. 6545
878
Class I Steam Railways
Freight carloadings (A. A. R.):c?
2,802
2,964
3,352
2,731
3,363
3,294
4,001
2,236
3,882
2,957
3,883
3,204
2,671
Total cars
thousands
451
636
470
455
397
439
713
631
626
540
517
317
613
Coal __. __
.
_. _do
59
74
61
50
58
15
57
75
55
71
56
60
58
Coke
do
175
179
173
178
225
164
243
203
179
172
170
186
217
Forest products
__
do
170
221
159
254
263
187
219
166
253
168
219
236
Grain and grain products
_ _ do
215
36
49
26
27
67
32
41
66
24
42
40
29
25
Livestock
do
83
85
78
387
357
371
44
96
245
369
378
447
438
Ore
_
do
274
288
302
360
289
364
318
281
265
268
257
346
257
Merchandise, 1 c 1
do
1,549
1,579
1,938
1,673
1,155
1,537
1,450
1,490
1,544
1,377
1,852
1,770
Miscellaneous
do
1,929
r
Revised.
* Data represent quarterly total.
ABeginning 1952, Turkey is included with Europe; previously, with Asia.
©Including Manchuria beginning January 1952.
*New series. Compiled by the Interstate Commerce Commission. Transportation revenues represent charges by the Railway Express Agency, Inc., to customers for express service;
express privilege payments are amounts paid by the Agency to the carriers for the conduct of express operations. Monthly data beginning 1949 will be shown later.
cpData for August and November 1952 and January and May 1953 are for 5 weeks; other montns, 4 weeks.
SURVEY OF CUEEENT BUSINESS
September 1953
Unless otherwise stated, statistics through
1950 and descriptive notes are shown in the
1951 Statistical Supplement to the Survey
S-23
1953
1952
July
August
September
October
November
December
January
February
March
April
May
June
July
TRANSPORTATION AND COMMUNICATIONS—Continued
TR AN SPORTATION—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 _ _
I-jvestock
do
Ore
do _
Merchandise 1 c 1
do
Miscellaneous
- - do _
104
75
56
147
183
45
73
43
116
129
101
154
157
145
61
323
46
141
145
135
187
151
138
93
352
48
155
138
93
185
146
157
117
314
48
158
138
123
195
149
144
95
258
47
150
120
111
200
135
123
66
77
43
135
121
108
193
139
128
59
70
42
138
119
97
191
140
112
46
69
43
140
122
92
186
142
119
47
79
45
146
127
96
175
144
117
58
231
44
146
132
106
182
143
124
58
315
45
148
133
105
176
151
158
52
328
43
146
128
94
162
147
166
46
341
42
141
102
75
57
146
153
56
46
43
115
125
101
160
149
134
65
216
46
140
134
135
189
140
123
70
235
45
144
128
93
188
139
157
76
233
46
145
134
123
195
152
147
76
233
46
144
131
111
191
152
131
69
248
45
144
134
108
184
154
128
62
278
44
151
130
97
181
146
114
57
275
45
149
132
92
184
142
130
60
273
45
154
129
96
178
144
133
66
237
44
148
130
106
183
137
141
65
237
45
146
128
105
179
145
155
r
60
212
43
142
123
94
167
146
138
60
213
42
139
40, 311
7,477
26. 642
2,070
1,490
448
13, 934
1, 691
6,310
4, 924
1,958
2,743
5, 693
331
113
12,028
3, 822
7,691
8,914
25
6,996
14,194
8, 235
5,169
5,294
33
2,030
7,075
4, 253
2,472
24 003
8,113
10, 456
792
449
173
79, 262
21,625
46, 558
827
564
137
69, 294
8, 145
51, 776
1 376
768
194
73, 260
7,429
56, 584
1,745
976
203
58, 597
5,584
43, 375
1 501
602
341
40, 222
12, 461
16, 278
2 269
1,385
527
25, 302
7,511
7,400
4 129
3,111
673
32, 717
2,315
23, 982
3,934
3,400
246
790, 718
644, 792
80, 482
634, 398
899, 734
744, 841
80, 548
663, 360
942, 139
796, 010
70, 581
674, 577
985 215
838, 101
66, 027
707, 483
908, 004
769, 593
65, 025
661, 229
935, 061
762, 543
84 069
711, 367
863, 001
713, 727
79, 199
661, 684
812, 968
684, 368
64, 738
621, 092
919, 617
779, 580
67, 052
1 696, 914
905, 605
765, 798
67, 093
673, 704
901 634
763, 046
66, 880
680, 508
924 362
776, 260
75 342
688, 949
925, 949
773, 517
79, 704
701, 399
95, 357
60, 903
35, 469
131, 334
104, 939
78, 155
146, 650
120, 913
94, 456
157, 064
120,669
92, 073
136, 088
110, 687
84, 158
114,091
109, 602
141 852
121,242
80, 075
57, 595
114, 076
77, 800
55 943
129, 134
93, 570
71,997
130,392
1 01 , 509
77 241
125, 733
95, 393
74 420
135, 740
99 673
79 232
130, 122
94, 428
44, 817
1.524
3,076
56, 949
1.377
3,133
58, 213
1.430
2,696
58, 066
1.503
2,481
56, 975
1.417
2,416
50, 753
1. 552
3,118
51, 756
1.458
2,943
47, 714
1.502
2,389
53, 227
1.536
2,491
52, 570
1.523
2,499
56 296
1.429
2 490
55 194
1.474
2 830
9,292
6,118
3,174
9,737
6,576
3,159
9,723
6,523
3,200
9, 637
6,467
3,170
8,687
5, 813
2,874
8, 560
5,994
2,565
8,064
5,713
2,351
2,649
762
2,511
909
2,888
1,148
3,261
1,236
2,866
1,077
3,057
1,109
3,037
940
3,009
947
3,233
1,168
3,182
1,256
3,153
1,064
3,265
1,045
3,236
1,029
6.39
72
237
7.15
76
255
6.91
78
251
7.13
83
259
7.17
72
241
6.49
63
233
6.69
76
249
6.77
78
245
6.49
76
230
7.14
78
264
6.51
77
274
7.04
77
270
6.71
71
239
88, 798
111.036
2,805
14, 699
34,
150
r
4, 107
115, 846
94, 685
2,099
12,858
29, 361
4,270
105, 868
63, 766
1, 985
13, 402
25, 062
1,603
73, 084
55, 698
1,309
16, 178
21,497
982
60, 671
50, 824
1,079
16,225
17, 109
375
56, 399
53, 130
846
15 957
19, 466
237
59, 980
63, 018
63, 298
71, 506
74, 917
76, 349
69 358
86, 172
69 711
85, 632
83 504
26, 700
253
40, 199
328
47, 501
419
57, 560
599
53, 901
1,030
44, 057
2,439
millions
682
8,618
716
9,074
718
9,113
717
9,064
665
8, 368
766
9 664
919
11,610
741
9,388
748
9,817
696
9 132
656
8 622
693
9 120
thous. of dol
do
do
351, 597
204, 358
120, 635
354, 143
205,114
122, 471
357, 925
210, 387
120, 911
370, 929
216, 164
127, 665
359, 634
214, 751
117, 549
380, 586
223, 190
129, 766
374, 578
222, 116
124, 327
363, 949
219,' 159
116, 260
378, 836
223, 607
126, 615
380 115
225, 848
125.153
385, 809
228, 180
128, 219
386, 901
228, 995
128, 304
_ do
do
thousands
258, 743
37, 140
41, 105
252, 771
41,077
41,255
255, 480
40, 878
41,419
261, 973
44, 112
41, 621
251,155
43, 950
41, 786
273, 404
50 534
42, 068
260, 513
45, 507
42, 116
248, 719
46 270
42, 298
264, 660
45, 385
42, 488
262, 177
47 354
42, 670
278, 219
47 103
42, 850
267, 821
47 586
42, 95S
15, 847
15, 101
*4?
15, 633
14, 883
«*««
17,251
15,534
974
17, 842
15, 850
1.253
15, 881
14, 761
435
18 962
16, 225
2,370
16 937
15, 487
655
16 033
14, 178
1,097
18 245
15, 325
2,136
17 710
15 187
1,734
17, 977
15, 835
1, 346
18 401
15 802
1,820
2,164
1,880
60
2,101
1,798
91
2,377
1,779
383
2,470
1,804
438
2,272
1,820
256
2,603
1,919
436
2 456
1,875
360
2,293
1,778
296
2,617
1,869
512
2 276
1,846
229
2, 257
1, 855
194
2 315
1,777
333
2,585
2,084
388
2,385
2,038
246
2,461
2,090
259
2 611
2, 160
360
2,391
2,069
267
2,799
2,297
489
2,453
2,133
192
2,346
1,992
222
2,657
2, 130
390
2 545
2, 166
299
2,480
2,100
249
2 550
2,130
288
Total adjusted
do
Coal
-- - do_ _
Coke
- - - do.. _
Forest products
- - do Grain and grain products
do
Livestock
do_ _
Ore
--do
Merchandise I c l
do_
Miscellaneous
- do
Freight-car surplus and shortage, daily average:
Car surplus total
number. .
Box cars
- _ _ d o _ _.
Gondolas and open hoppers
__doCar shortage total
do
Box cars
do
Gondolas and open hoppers
do
Financial operations:
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!
do
Operating results:
Freight carried 1 mile
mil of ton-miles
Revenue per ton -mile
.cents.
Passengers carried 1 mile revenue
millions
1
Waterway Traffic
Clearances, vessels in foreign trade :§
Total TJ S Dorts
thous of net tons
Foreign
- do
United States
do
Panama Canal:
Total
thous. of long tons. In TJnited States vessels
do
Travel
Hotels:
Average sale per occupied room _
_ dollars _
Rooms occupied f
percent of total
Restaurant sales index
same month 1929=100-.
Foreign travel:
IT S citizens arrivalscf
number
U S citizens departurescf
do
Fmigrant aliens departed
do
Passports issued
National parks visitors
Pullman Co.:
Revenue passenger-miles
--
-.-
- do
thousands
36, 929
4,004
COMMUNICATION S
Telephone carriers:©
Operating revenues
Station revenues
Tolls message
Operating expenses, before taxes.
Net operating income
Phones in service end of month
Telegraph, cable, and radiotelegraph carriers:
Wire-telegraph:
Operating revenues
thous of dol
Operating expenses incl depreciation
do
Net operating revenues
_
..do
Ocean -cable:
Operating revenues
do
Operating expenses, incl. depreciation ..do
Net operating revenues .
do_- _
Radiotelegraph:
Operating revenues
_ do
Operating expenses, incl. depreciation
do. _
Net operating revenues
do
T
d
J
Revised.
Deficit.
March data include operating expenses amounting to $17,700,000 which are applicable to the months of December 1952-February 1953; April data, $2,400,000
arch 1953..
{Revised data for June 1952, $53,428,000.
applicable t o December 1952-March
,,.
§Beginning July 1951, data exclude vessels under time or voyage charter to Military Sea Transportation Service.
f Revised series. Data beginning 1951 have been adjusted to the levels of the 1948 Census of Business.
d"Data exclude arrivals and departures via international land borders; land-border departures during the 12 months ended June 1950 amounted to less than 1 percent of total departures.
©Data relate to continental United States. Beginning January 1952, data exclude reports from several companies previously covered and include figures for some not included in earlier
data.
SUEVEY OF CURRENT BUSINESS
S-24
Unless otherwise stated, statistics through
1950 and descriptive notes are shown in the
1951 Statistical Supplement to the Survey
September 1953
1953
1952
July
August
September
October
November
December
January
February
March
April
May
June
July
CHEMICALS AND ALLIED PRODUCTS
CHEMICALS
Inorganic chemicals, production :J
Ammonia, synthetic anhydrous (commercial)
short tons__
Calcium arsenate (commercial)
_ _ _do
Calcium carbide (commercial)
do
Carbon dioxide, liquid, gas, and solidO
do
Chlorine gas
do
Hydrochloric acid (100% HCl)
do
Lead arsenate (acid and basic)
do
Nitric acid (100% HNO)
do
Oxygen (high purity)
mil of cu ft
Phosphoric acid (50% TT^P04)
short tons
Soda ash, ammonia-soda process (98-100%
Na.2COs)
short tons__
Sodium bichromate and chromate
do
Sodium hydroxide (100% NaOH)
do
Sodium silicate, soluble silicate glass (anhydrous)
short tons
Sodium sulfate, Glauber's salt and crude salt
cake
short tons
Sulfnricacid:
Production (100% HaSOO
do
Price, wholesale, 66°, tanks, at works
dol. per short ton__
Organic chemicals:
Acetic acid (synthetic and natural), production
thous. of lb_.
Acetic anhydride production
do
Aeetylsalicylic acid (aspirin), production _.. do
Alcohol, ethyl:
Production
thous of proof enl
Stocks, total .__
do
In industrial alcohol bonded warehouses
thous. of proof gal__
In denaturing plants
do
Used for denaturationf
do
Withdrawn tax-paid
do
Alcohol, denatured:
Production
thous. of wire oril
Consumption (withdrawals)
_
do
Stocks
do
Creosote oil, production!
thous. of gal_
Ethvl acetate (85%), production
thous. of lb_.
Glycerin, refined (100% basis):
High gravity and yellow distilled:
Production
_
do
Consumption
do
Stocks
do
Chemically pure:
Production
do
ConsumDtion
do
Stocks ^
_
- _ do
Methanol, production:
Natural (100%,)
thous. of gal__
Synthetic (100%)
do
Phthalic anhydride, production
thous. of lb__
167, 574
704
52, 238
80, 662
194, 285
49. 282
0)
118,840
1,046
153, 609
173, 326
0)
45, 812
79, 391
207, 964
54, 462
0)
128, 886
1,862
179. 200
171 T>1
0)
47, 947
65, 370
20S, 966
57, 334
(')
134. 588
2, 023
185, 295
184,319
0)
56, 315
55, 292
227, 970
61, 646
(!)
140,866
2,251
205, 074
178,562
0)
56, 150
46,012
219, 620
61,699
381
147, ISO
2,175
179, 647
193, 507
0)
61,903
45, 441
224, 93«
64, 284
(')
157,508
2, 297
176,929
188, 882
415
65, 788
44, 463
231,017
66, 056
709
156, S24
2,278
207, 747
173, 857
926
61. 913
43. 997
217, 261
60, 570
1,194
139, 178
2,161
199, 765
189, 644
534
68, 946
52, 950
233, 081
65, 960
1.144
146, 594
2, 336
214,811
192, 424
188,173
216
276
68, 391
69, 703
51,823 r 66, 194
235, 596
241, 177
65, 270
65, 890
1,444
964
141,444
134, 352
2 182
2 197
210,153 ' 218, 427
185, 194
0)
65. 371
77, 720
235. 153
63, 342
822
134, 227
2 035
197,947
336, 327
3,722
224, 462
370, 877
5,882
242, 721
349,218
7, 001
242, 700
405, 778
8, 355
260, 742
431, 598
8, 107
257, 081
414, 557
8, 013
260. 184
422, 365
8, 490
209.311
370, 735
7,440
256, 482
423, 755
8,034
274, 614
432, 747
9,234
278, 970
438, 427
10, 534
288, 216
390, 988
11,414
277, 495
34, 403
35, 521
44, 948
59, 997
44, 373
45, 893
41, 181
41,950
49, 941
57, 708
54, 037
44, 433
73, 221
80, 383
79. 776
78, 422
78, 818
1,192,765 1. 184, 405 1,116,994 1, 270, 151
1,206,913
66, 516
58, 999
968, 467
81,301
76. 075
75, 070
68, 91 3
1,066,592 1,079,457 1. 164, 427 1, 159,061
81,814
r
1,257,882 1,164,107
20.00
20.00
20.00
20. 00
20.00
20. 00
20.00
20.00
20.00
20.00
20. 00
22. 35
34, 256
65, 963
845
32, 979
70, 859
823
32, 781
74. 404
807
38, 746
80, 829
1, 189
39, 241
69,515
1,145
42, 985
72, 855
1,137
89. 858
(57. 1 75
1,120
33, 894
61,361
1, 115
44,211
71, 448
1,195
40, 688
67. 380
1,342
42. 105
71, 065
1,278
40, 219
74, 508
1,117
39, 292
77, 437
32, 984
82, 661
36, 439
87, 430
35, 839
85, 838
31, 552
81, 702
42. 182
83. 245
46,161
84, 263
45, 013
77, 701
46, 837
04, 238
44, 681
74, 492
43, 394
78, 581
40, 645
72, 519
39, 034
75, 501
47, 610
29. 827
35, 397
2, 052
47, 420
35, 241
28, 577
1, 629
48, 430
39, 000
31, 249
2,057
46,419
39,419
35,172
2, 058
42, 281
39,421
34, 286
2,101
44. 833
38,412
40. 638
1,448
52, 6S6
31, 577
35. 349
1.815
56, 948
20, 753
40, 320
1,892
54, 592
9, 646
56. 224
2, 171
55, 022
19, 470
34. 435
2, 105
54, 872
23, 709
35, 640
2, 030
53,812
18, 707
37. 469
2, 200
53, 731
21, 750
36. 557
2, 106
19, 039
17, 468
9,100
' 6, 504
4,152
15, 437
18, 261
7, 158
12, 289
8,813
16. 987
16, 799
7, 326
12.277
7,984
19,226
19,166
7,347
12, 868
7, 363
19, 613
18, 428
8. 548
13, 666
8, 082
23,417
23, 605
8. 285
12, 785
8, 375
19,037
20 225
7,084
12, 631
6, 925
21, 659
17, 583
9, 689
10,813
7,222
30, 199
25, 169
14, 909
11,505
7, 685
18.414
23, 105
10, 207
12. 386
7,423
19, 201
21, 845
8, 855
14,015
6,004
20, 120
23, 309
6. 844
13 570
8, 200
19, 649
20,890
5, 573
r
r
r
r
r
P 22. 35
5, 855
6,003
13, 553
6, 511
6,538
12, 246
7,279
6, 975
12, 066
7, 602
8,101
11,447
7,043
7, 102
11,006
6, 898
6,219
11,370
6, 701
6, 503
12, 998
6, 762
6, 276
12, 697
8,097
6. 806
14, 856
7,380
7,092
15,660
6, 993
6, 787
15.912
7. 653
6, 205
17, 999
5, 151
6, 037
16, 591
6,237
6, 628
21, 684
9, 035
7, 536
19, 080
10,040
7, 991
17, 173
11,147
8, 886
16,211
10, 629
7, 527
15,336
11,663
7, 608
14, 595
12, 181
8, 233
16, 069
13, 258
7, 552
17, 644
14, 722
8,217
20, 146
13, 276
7, 897
21,323
14. 331
7,698
24, 049
12. 234
9,021
25, 774
10, 747
8, 536
25, 580
195
11,890
18, 955
179
12,059
16, 462
234
11,143
17, 954
194
13. 367
19, 036
179
13, 329
20, 480
1 72
15,544
19, 978
153
14,027
20, 013
148
11,890
18. 481
184
13, 275
21,841
192
12. 469
17, 519
204
12, 553
18, 181
189
12, 083
18 059
2
389
203, 643
24, 643
164, 357
7,015
2380
208, 593
19, 939
170, 215
7.227
2599
171. 683
28, 068
124, 084
5, 893
2559
242, 814
7, 955
219, 806
12,'602
2
572
169, 969
7, 850
148,826
7,848
2 685
160, 461
22, 468
117,635
8, 686
2924
140, 760
5, 946
116.482
6, 637
2 1, 324
161, 193
5, 336
139, 696
9,161
2 2, 030
199,096
6, 853
179,311
7,814
2 1, 863
227, 068
14, 628
201, 527
6,734
2910
230, 296
5, 650
214,016
6,101
2426
311, 892
7,367
295,012
5, 403
141,032
Imports, total
do
100, 674
Nitrogenous materials, total
_ _ _ _ _ _ do
37, 015
Nitrate of soda
_ _ _
do
7,318
Phosphate materials
do
21, 293
Potash materials
do
Price, wholesale, nitrate of soda, crude, f. o. b. cars,
57.00
port warehouses
dol. per short ton-113, 167
Potash deliveries
__
short tons
Superphosphate (bulk):
928, 757
Production
_
do
Stocks, end of month
do_ _. 1,375,725
169, 119
122, 146
50, 865
8,166
27, 336
237, 657
181, 487
69, 563
6, 460
33, 020
220, 823
165,102
69, 842
10, 856
30, 821
194, 024
133, 078
66, 738
26. 160
22, 218
194, 599
137, 862
50, 743
8, 735
34,119
232, 080
180, 359
41,722
12,400
27, 654
296, 708
245, 377
37, 565
4,521
30, 831
370, 867
297, 549
75, 600
11,610
29, 031
417, 574
330, 194
88, 419
11, 527
40, 955
299, 677
239, 888
92,119
5, 080
13, 819
249, 070
9Q5 411
80, 555
10, 719
9, 596
57.00
122, 979
57. 00
149, 678
57. 00
142. 726
57.00
127, 884
57. 00
133, 733
57. 00
139, 339
57.00
167, 733
57.00
214, 470
57.00
183, 982
57. 00
142,816
57. 00
108, 479
960, 242
1,429,455
928, 624
1,407,462
1,048,458
1,403,232
917.938
1,398,372
941,440
1,510,676
971, 091
1,554,702
969, 410
1,433,309
1,111,489
1,148,185
1,195,541
909, 321
FERTILIZERS
Consumption (14 States) §
Exports, total
Nitrogenous materials
Phosphate materials _ .
Potash materials
thous. of short tons__
short tons_.
do
_ _ d o __
do
r
T
2
219
" 57. 00
130, 816
1,094,139
913, 942
1,009,593 1, 196, 548
NAVAL STORES
Rosin (gum and wood) :
Production, semiannual total_._ drums (520 lb.)__
948, 760
769, 520
3r
Stocks, end of period.. _ _
do _ _
904, 650
859, 380
Price, gum, wholesale, "WG" grade (N.Y.), bulk
8.35
dol. per 1001b__
8.70
8.35
8.40
8.50
8.50
8.90
8.80
8.80
8.60
8.60
'8.35
^8.45
Turpentine (gum and wood);
Production, semiannual total
bbl. (50 gal.)..
331, 000
233, 670
Stocks, end of period
_ __
_ _ do. _ _
214, 640
3' 228, 880
.62
Price, gum, wholesale (N.Y.)
dol. per gal
.62
.60
.62
. 62 i
. 60
.60
.60
.60
.60
.60
.59
f . 59
r
r
21
Revised.
v Preliminary.
1 Not available or publicat ion.
'otal for 12 States: excludes data for both A irginia and KentucJ ty (effecthre July 19i>2, Kentucky will report semi3
annually: see note "§" below for quarterly data for V irginia) .
Revisio us for Ma rch 1952: Rosin, 722,580 drums turpentine, 194,450 b bl.
{Revisions for inorganic chemicals for January-0 3tober 1950 and 1951 are available upon request; those for creosote oil for January-June 1952 will b e shown la ter.
OData beginning January 1951 exclude amounts produced a nd consunled in the same plants manufacturing soda ash.
fRevised series. Data shown prior to the Novernber 1951 S URVEY rep resent alec hoi withdrawn for denaturation
§Figures exclude data for Virginia; effective Janu ary 1951, tilis State re ports quar terly. Data for Virginia (thous. short tons): 1951— Jarluary-Mar ch, 312; AIDril-June, 288; July-September,
,91; October-December, 111; 1952—January-March, 3.J2; April-Jime, 331; Jiily-Septeniber, 90; October-December, 100 ; 1953 —• January-March, 319; AE)ril-June, ? 22.
S-25
SURVEY OF CURRENT BUSINESS
September 1953
1952
Unless otherwise stated, statistics through
1950 and descriptive notes are shown in the
1951 Statistical Supplement to the Survey
July
August
September
1953
October
November
December
January
arvU"
March
Ap ril
May
June
July
CHEMICALS AND ALLIED PRODUCTS—Continued
MISCELLANEOUS
Explosives (industrial), shipments:
Black blasting powder
High explosives
Sulfur:
Production
Stocks
.
__-
thous. of lb__
do
586
51, 315
764
62, 515
1,010
66, 177
1,184
66 621
902
1,016
59 840
56 709
477, 939
447, 481
428, 810
436, 143
long tons
422, 560
430, 811
do _. 2, 982, 331 3, 047, 591 3, 081, 284 3, 064, 952 3, 053, 843 3, 068, 855
1,056
56, 212
812
56 871
710
58 876
634
63 170
553
64 562
503
64, 765
579
61 167
419, 365
471 615
418, 568
455, 380
381, 532
423 639
479 954
3,130,379 3, 089, 132 3, 042, 952 3, 001, 430 2, 866, 743 2, 919, 545 2, 959, 760
FATS, OILS, OILSEEDS, AND
BYPRODUCTS
Animal fats, greases, and oils:t
Animal fats:
290, 088
Production ___ __ _ _..
. _ thous. of Ib
95, 111
Consumption, factory
do
377, 329
Stocks, end of month- _ _ _
do
Greases:
44, 932
Production
do
31,098
Consumption, factory
do
118, 495
Stocks, end of month
do
Fish oils:
22, 631
Production
do
8,331
Consumption, factory
do _
84, 479
Stocks, end of month d"
do
Vegetable oils, oilseeds, and byproducts:^
Vegetable oils, total:
. 305
Production, crude
.mil. o f l b _ _
361
Consumption, crude, factory
_
do
Stocks, end of month:
1,017
Cruded* _ ._ __
do...
536
Refined
do
30,911
Exports
_
thous. of Ib
36, 473
Imports, total
_
__
do
5,447
Paint oils
do
31,026
All other vegetable oils—
do
Copra:
18, 028
Consumption, factory
short tons.
11, 974
Stocks, end of month
do
21,390
Imports
do
Coconut or copra oil:
Production:
22, 632
Crude
_
.
-thous. of Ib
26, 745
Refined
..
do
Consumption, factory:
41, 119
Crude
_
do
23, 431
Refined
do
Stocks, end of month:
49, 699
Crudec?"
do
7,578
Refined
_
do
16, 085
Imports
do
Cottonseed:
78
Receipts at mills.
thous. of short tons
117
Consumption (crush)
do
137
Stocks at mills, end of month
do
Cottonseed cake and meal:
55, 746
Production
__
_.
short tons..
45, 104
Stocks at mills, end of month
do
Cottonseed oil, crude:
41, 143
Production
thous. of lb_
41, 077
Stocks end of month
do
Cottonseed oil, refined;
54, 023
Production
_
do
90, 150
Consumption, factory
do
17, 070
In oleomargarine
_-_
do
1361,320
Stocks end of month
do
.205
Price, wholesale, drums (N. Y.)V_dol. per lb._
Flaxseed:
Production (crop estimate)§
thous. of bu
Oil mills:
1,580
Consumption
.. do
3,346
Stocks, end of month
do
4.01
Price, wholesale, No. 1 (Minn.)
dol. per b u _ _
Linseed oil, raw:
31, 860
Production
thous. of lb__
45, 899
Consumption, factory
do
634, 474
Stocks at factory, end of month
do
.150
Price, wholesale (Minneapolis)
dol. per l b _ _
Soybeans:
Production (crop estimate) §
thous. of bu__
17, 539
Consumption, factory
do
22, 339
Stocks, end of month
_ .. __do
Soybean oil:
Production:
179, 498
Crude
thous. of Ib
162, 158
Refined
do
142, 825
Consumption, factory, refined
do
Stocks, end of month:
180, 130
Crude
do
116, 618
Refined
_ _
do
.174
Price, wholesale, refined (N. Y.)___dol. per lb._.
286, 050
114, 199
339, 625
290, 840
110, 119
329, 643
358 024
128 965
296 004
367, 547
104, 045
327, 150
431, 761
105, 973
406, 370
427, 887
113, 586
460, 719
343, 522
127, 834
453, 996
344, 181
128 956
449, 299
331, 952
125 007
443, 138
311,131
126 654
431, 798
300, 366
116, 414
413, 191
292, 364
101 330
380, 414
46, 040
35, 164
113, 738
43, 600
37, 100
107, 634
54 838
44 866
101 152
55 434
34, 533
107 530
57 588
32, 518
114 150
57, 636
39, 197
117 840
51 541
35, 222
115 820
51 090
40 361
109 800
52 056
34 996
105 854
52 336
33, 926
105 053
50, 838
32, 625
99, 715
46 140
23 966
106 866
22, 683
9,919
88, 854
13, 407
11, 763
89,990
9 268
15 957
103 115
5 743
14, 975
92 801
3,037
10, 832
90, 117
223
244
17, 820
76, 380
14, 599
65, 644
11, 930
51 459
1 844
11, 443
47 180
8 000
12, 989
46 731
18, 087
10, 672
46, 797
27 357
11 148
51 287
354
394
433
413
627
566
592
532
566
562
572
551
488
521
510
546
457
525
415
458
369
446
322
378
1 049
1,052
1 072
18 942
44 941
2 336
42 604
1,095
21, 392
39 291
2,644
31 534
1 077
952
498
962
438
43, 097
35, 171
5,177
29, 993
27, 991
32, 922
2,153
30, 769
30
36
3
32
37, 665
13, 570
29, 563
486
985
1,096
1,115
1,147
1,112
1 102
808
190
664
525
41, 414
37, 943
2,494
35 449
35, 276
31, 759
18, 102
33, 909
17, 699
25, 227
18 875
33 521
31, 026
33, 468
24, 349
32 966
1,074
1 044
15, 467
56 440
2,481
53 959
32, 550
10, 070
23,507
35, 228
16 591
43, 529
30, 262
12 324
24,433
29, 524
12 900
23, 426
27, 095
19, 014
26, 583
19,969
28, 611
11 277
29 029
31 031
17 729
38, 517
25 546
18 786
18 883
29, 421
14, 416
24,683
23 958
15 997
47, 692
36, 466
41, 096
38, 003
45, 425
41, 035
38, 622
31 423
37, 619
30 958
34, 491
27 041
24, 232
29, 174
36 332
29 922
39 520
26 942
32 318
26 959
37, 590
29 970
31 280
26 372
51, 836
30, 364
56, 545
34, 112
61, 323
35, 858
47, 506
26, 344
47, 818
27, 401
42, 439
24, 030
45, 998
25, 409
44 820
27 093
41 591
23 201
43 527
23 063
45 273
27, 053
39 125
22 478
50, 718
8,730
12, 237
46, 974
7, 616
10, 137
42, 465
8,334
14, 152
45 915
8,415
16 162
47 506
7,980
11, 950
44,552
8,241
10 846
30, 782
7,677
5,298
36 744
7 429
9 069
41 411
8 809
19 Oil
38 685
8 759
9 896
41 113
7,723
7 079
41 803
8 732
398
148
386
1,170
1,757
1 097
1,035
2,010
719
539
666
100
550
2 388
2,261
1,827
1,391
38
480
949
28
377
614
14
266
361
44
208
197
113
155
155
70, 059
47, 876
248, 660
81, 857
379, 384
115, 114
348, 802
144 420
317, 680
155 303
310, 755
194 047
262, 173
210 115
231 782
208 612
181, 730
178 690
129 515
140 897
99 667
122 619
75 673
91 549
44, 768
38, 375
156, 459
103, 809
249, 604
162,946
231, 827
188 505
213, 966
178 154
211, 130
178 757
180, 541
170 739
165 269
149 973
133 124
115 605
95 387
84 671
74 529
56 418
55 418
42 451
42, 285
92, 727
23,
978
1
318, 006
.205
71, 655
103, 262
32,
434
1
288, 212
.191
173, 856
119, 867
29,238
1
343, 165
.191
190, 034
86 397
24, 707
1
445 493
.193
198, 592
95 697
26, 480
1
544 572
.195
185, 476
104 450
29, 016
1
627 573
.228
173, 738
99 752
25 781
*723 763
.179
169 882
90 754
23' 109
*811 815
.'233
159 289
92 053
18 144
i 88i 275
.233
119 424
79* 258
17 430
i gig 453
.233
521
474
782
689
578
733
2
777
441
222
655
872
877
967
554
970
96 142
67 740
CO ««O
75 610
19 744
15 664
i 935 273 i 928 561
.233
v. 220
31, 002
z 42 204
2,295
3,794
4.17
2,303
5,461
4.17
2,903
6,154
4.08
2 699
5,621
4.10
2 285
4,967
4.10
2 627
4,355
4.04
2 065
3 679
3.90
1 924
2 822
3.95
1 680
2 136
3.84
1 221
2 063
3.76
1 609
1 449
3.65
1 311
2 064
3.50
46, 904
54, 981
622, 350
.152
46, 702
51, 841
616, 537
.156
58,017
53 608
622, 079
.151
54, 620
47 674
626, 611
.150
46, 016
42 335
634, 959
.148
51, 336
41 602
643, 703
.146
41 300
41 599
641, 675
.148
39 027
43 085
636, 113
.151
34 663
42 884
626, 180
.152
24 497
42 697
599, 768
.150
31 975
41 131
588, 812
••145
26 764
45 511
575, 613
P . 138
17, 549
9,071
14, 969
11, 632
22 507
85 496
21 997
89, 783
2 291 682
21 397
79, 852
21 550
65, 741
18 679
55 817
20 437
49 613
19 201
44 764
20 670
34 380
17 291
26 905
178, 795
175, 008
154, 982
155, 632
166, 542
187, 729
238, 300
199, 066
210, 621
230, 609
173 576
171, 950
226, 935
198 811
182, 331
231 000
202 969
195, 424
200 412
186 396
175, 466
221 783
203 529
190, 474
208 414
198 287
182, 488
226 293
175 291
162, 942
190 086
185 566
166 319
136, 414
124, 222
.170
98, 287
96, 020
.156
124, 629
75, 677
.151
139, 602
153 674
166 204
156 308
158 194
73, 545
88 275
87, 118
83 716
98 342
.168
.161
.191
.191
.'208
l
' Revised.
*» Preliminary.
Includes stocks owned by Commodity Credit Corporation.
2 Estimate for 1952.
3 August 1 estimate.
JRevisions for 1950 and for January-September 1951 for production, consumption, and stocks will be shown later,
o*Beginning with September 1950, data included for sperm oil, crude palm, castor, and coconut oil are on a commercial stocks basis.
*New series. Compiled by the 17. & Department of Labor, Bureau of Labor Statistics. Data prior to February 1951 will be shown later.
.Revisions for flaxseed (1946-49) and soybeans (1944-49) appear in corresponding note in the September 1952 SUKVEY.
156 951
103 952
.'208
190 873
100 864
.'208
166 767
106 456
.*208
3 295 018
1 ft' ^*R8
18 865
m
1 f\f\
fiftQ
Q87
155, 641
1 7fi AQ%
no 770
p . 208
SURVEY OF CURRENT BUSINESS
S-26
September 1953
1952
Unless otherwise stated, statistics through
1950 and descriptive notes are shown in the
1951 Statistical Supplement to the Survey
July
August
September
1953
October
November
Decem- January
ber
February
March
April
May
June
July
89 753
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, colored, delivered
(eastern U. S.)*
dol. perlb..
Shortening :
Production
--. - thous. of lb__
Stocks end of month
do..
68, 695
23,807
86, 564
15, 584
125, 694
18, 615
123, 403
23, 362
105 480
21, 694
116 840
25, 283
126 580
23, 412
114 037
25 364
113 421
23,911
93 279
23 105
89 896
20 817
103 203
20, 246
.271
.269
1.281
1.284
1.284
1.284
i .284
1.284
1.284
1.284
i .284
1.274
1.274
112, 624
88, 436
125, 114
92, 559
140, 171
74, 126
178, 057
86, 653
126, 622
93, 678
131, 749
93, 668
141, 878
87, 976
134, 857
97, 290
137, 161
92 646
141, 998
108 894
118, 229
127, 912
106, 815
126, 538
105, 858
113, 700
109, 936
37, 045
72, 891
111, 955
41, 192
70, 763
117, 026
44, 636
119, 754
23,366
PAINTS, VARNISH, AND LACQUERf
Factory shipments, total
Industrial sales
Trade sales
thous. of dol_
do
_do_ _
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 acid resins Polystyrene
Urea and melamine resins
Vinyl resins §
-Alkydresinsf
Rosin modifications
Miscellaneous resins§
do
do
do
__do
do
do
do
2
2
2
2,013
4,504
1,998
4,866
377
442
439
404
20,981
26, 850
22, 007
16, 669
29, 582
25, 692
26, 259
11, 189
28, 756
24, 342
7, 337
14, 368
7,572
17, 868
r
72,390
2,223
6,109
581
303
30,996
27, 484
16, 942
32. 764
31, 224
9,488
18, 078
94, 769
40, 808
70, 752
53,961
91, 050
41, 536
49, 514
107, 729
42, 960
64,769
106, 176
43 788
62, 388
121, 132
49 645
71, 487
129, 534
52 035
77, 499
' 131, 004
*r 52 352
78, 652
133, 246
50 978
82, 268
2,852
6,679
2,345
5,629
2,659
5,780
2,360
5,992
2,575
6,207
3 348
7,102
706
713
3 184
3,243
6,073
3 590
659
602
662
683
41 551
35, 764
18 498
46, 295
34, 274
38, 299
39, 374
19 856
46, 790
32, 980
49,002
589
468
506
529
556
456
39, 144
37, 919
19, 868
39, 247
33, 936
35, 539
38, 515
18, 315
39, 881
34, 474
37, 043
20, 473
41, 654
21, 728
8,914
21, 274
8,639
27,644
31,002
7,840
21, 925
610
532
593
521
32, 975
34, 374
16 196
7,044
35, 305
32, 938
17, 883
44, 506
32, 978
31, 228
40 843
40, 233
20, 111
46, 721
36, 439
21, 788
21, 304
22, 946
8,882
22,458
8,705
41,028
8,246
9,420
8,700
23,204
6,770
691
594
37 633
36, 013
19 442
44 884
32, 600
8,480
23,870
ELECTRIC POWER AND GAS
ELECTRIC POWERJ
Production (utility and industrial), total
mil. of kw.-hr__
Electric utilities total
do
By fuels
-- do
By water power
do
Privately and publicly 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. of kw.-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
37,007
32,523
23,785
8,738
39, 752
34, 361
25,844
8,518
38, 759
33, 376
26, 019
7,357
40, 511
34, 821
27, 797
7,025
39, 351
33, 747
27, 225
6,522
42, 310
36, 452
28, 231
8,221
42, 656
36, 663
27, 402
9,261
39, 165
33, 597
24,603
8,995
42, 993
36,969
26, 771
10, 197
41, 510
35, 627
25, 923
9,705
41, 995
35, 982
25, 695
10,288
42, 733
36 827
27 732
9 095
43, 927
38, 030
29, 276
8, 75f
27, 249
5,274
4,484
4,159
326
28,860
5,501
5,391
5,026
365
28, 619
4,757
5,383
5,067
30, 227
4,594
5,690
5,422
268
29,338
4,409
5,604
5,361
243
31, 343
5,109
5, 858
5,537
31, 432
5,231
5,994
5,571
423
28,431
5,166
5,567
5,149
418
31,249
5,720
6,024
5,572
452
30, 239
5,388
5,882
5,426
30, 294
5,688
6,013
5,578
31,317
5,510
5 905
5 511
395
32,209
5,821
5,897
5,563
334
26, 914
28,781
29, 440
29, 279
29,364
30, 676
31, 616
30, 875
31,664
31,346
30, 991
5,361
12, 638
5,583
14, 097
5,501
14, 681
5,236
14, 823
5,185
14, 611
433
7,446
605
341
709
34
5,414
14,888
480
8,259
525
363
714
32
5,594
14, 810
5,411
14, 741
5,345
15,684
462
8,383
683
325
734
49
5,287
15, 663
5,356
15, 749
540
363
720
33
440
8,627
575
327
718
38
527,280
550, 592
569, 334
557, 643
560,606
554,637
396
6,567
994
242
671
45
493, 359
401
6,657
316
398
1,061
6,817
1,015
287
698
43
426
6,950
766
321
714
44
512, 716
521, 495
521, 103
262
675
45
321
475
9,081
456
436
8,033
854
290
731
51
435
412
7 614
809
272
727
53
549,247
GAScf
Manufactured and mixed gas (quarterly) :
Customers end of quarter, total
thousands
Industrial and commercial
- - - do
Sales to consumers, total
mil. of therms
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 _
Industrial and commercial
do
Sales to consumers, total
mil. of therms
Residential (incl house-heating)
do
Revenue from sales to consumers, total
thous. of dol
Residential (incl. house-heating)
do
Industrial and commercial
_„.,. ^do. _
6,713
6,243
468
540
268
263
6,685
6,212
6, 552
6,081
469
799
492
297
1,095
83, 954
57, 416
25, 932
113,191
80,803
31, 550
146, 648
108, 093
37, 524
18, 899
17, 441
1,438
9,576
1,329
7,630
19, 545
17, 970
1,555
13. 525
4,126
8,496
19, 690
18, 078
1,591
16, 249
6,757
8,855
315,515
126, 145
176, 242
554, 740
305, 859
232,401
756, 107
477, 947
265, 043
467
748
336
r
1
Revised.
» Preliminary.
Based on 1. c. 1. shipments. Data prior to September 1952 are for carlots.
2 Revisions for January-June 1952 are as follows (thous. dol.): Total shipments
112,384 105,174; 109,517; 123,059; 124,912; 121,223; industrial sales—41,950; 41,561; 41,762; 44,542; 44,861; 41,000; trade sales—70,434; 63,613; 67,755; 78,517; 80,051; 80,223. Revisions for 1951 will be
shown later.
*New series. Compiled by U. S. Department of Labor, Bureau of Labor Statistics. Data prior to February 1951 will be shown later.
tRevised series. Data are estimated total factory shipments of finished paint, varnish, and lacquer. Figures supersede those shown in the SUEVEY prior to the June 1952 issue
which did not measure total shipments.
'
§See note "1" in the February 1952 SURVEY and earlier issues regarding changes in classification and coverage beginning with data for January 1951.
^Unpublished revisions for January-July 1950 and 1951 for electric-power production will be shown later.
d*All sales data formerly expressed in cu. ft. are now published in therms by the compiling source; 1932-49 figures expressed in therms and minor revisions for customers and revenue for
1932-44 will be shown later. Revisions for the first 2 quarters of 1950 are shown in the corresponding note in the October 1951 SURVEY; those for the first 2 quarters of 1951 and the first quarter
of 1952 will be shown later.
SURVEY OF CURRENT BUSINESS
September 1953
S-27
1952
Unless otherwise stated, statistics through
1950 and descriptive notes are shown in the
1951 Statistical Supplement to the Survey
July
August
September
1953
October
November
December
January
February
March
April
May
June
July
7,791
7,118
10, 905
8,753
8,083
11, 062
9,905
9,210
11, 104
FOODSTUFFS AND TOBACCO
ALCOHOLIC BEVERAGES
Fermented malt liquors:
Production
thous. of bbl
Tax-paid withdrawals
do
Stocks, end of month __
do, __
Distilled spirits:
Production
thous. of tax eal
Consumption, apparent, for beverage purposes
thous. of wine gaLTax-paid withdrawals
thous. of tax gal
Stocks end of month
do
Imports
thous of proof gal
Whisky:
Production
thous. of tax gal
Tax-paid withdrawals
do
Stocks, end of month __ _ ___
__ __do. _
Imports
thous. of proof gal
Rectified spirits and wines, production, totalcf
thous. of proof gaL Whisky
do
Wines and distilling materials:
Sparkling wines:
Production
thous of wine gal
Tax-paid withdrawals
. do
Stocks end of month
do
Imports
do
Still wines:
Production
do
Tax-paid withdrawals
do
Stocks end of month
do
Imports
do
Distilling materials produced at wineries. .-do
r
10, 121
r
r
9,271
11, 189
r
6,844
6,852
10,132
5,787
5,908
9,598
6,686
6,774
9,096
6 621
5,707
9,606
6 191
5,630
9,789
7,683
6,658
10, 324
8, 167
7,198
10, 720
6,453
9,837
20, 691
12, 265
10, 558
10, 321
9, 548
1 2, 539
12, 116
11,812
11, 469
1 5, 324
11,509
921, 480
1,575
19,463
1 5, 909
909, 081
2,048
18, 966
15,013
898, 143
2,360
22, 785
10,216
894, 492
2,204
13, 398
8,872
892, 357
1 183
13, 597
9,124
890, 328
1,302
14, 785
11,311
887, 827
1,735
15,277
10, 785
886, 619
1,469
16,139
10, 799
884, 315
1,636
14, 686
10, 839
881,824
1,594
9,362
9,735
878, 764
2, 677
3,980
760, 079
979
3,208
6,204
754, 200
1,443
3, 859
9, 053
745,181
1,826
3,683
8,312
737, 913
2,162
5,782
5, 676
735, 172
1,977
6, 836
5,320
734, 248
1,063
6,939
5,307
733, 138
1,185
8,295
6,149
732, 448
1,639
8,053
5,917
731, 757
1,337
7,232
5,608
730, 843
1,504
7,674
5,499
730, 916
1, 465
5,680
4,793
729, 729
7,590
6, 389
5,936
4,785
8,585
7,504
11,446
10,116
11, 536
10, 455
7, 732
6,614
6,103
5, 091
6,634
5,721
8,313
7,217
7,683
6,500
7,934
6,659
8,047
6,739
6,902
5,656
63
73
1,503
28
100
78
1,518
29
62
112
1,467
40
90
158
1,384
64
82
182
1,274
86
77
197
1,139
96
151
97
1,183
33
73
68
1,178
23
101
88
1,185
40
249
86
1,343
39
151
101
1,386
44
148
97
1,427
46
547
7,980
162, 733
272
1,758
1,741
8,440
153, 728
297
6,871
20, 940
11, 993
162, 350
324
49, 009
66, 382
13,822
219, 565
513
124, 199
25,764
12, 333
233, 390
589
55, 656
6,622
11,637
225, 069
589
17, 406
2,442
10, 303
215, 550
396
2,786
1,265
9,963
205, 265
295
722
1,212
12, 161
191, 805
478
1,075
1 097
11, 739
179 567
486
1,561
1,221
10, 938
169, 669
409
534
1, 126
9,804
158, 739
453
674
121, 465
99, 751
.714
108, 320
111, 400
.737
94, 885
111,319
.732
89, 575
102, 177
.716
76, 420
83, 951
.699
95, 855
72, 723
.678
106, 095
85, 737
.670
102, 770
99, 557
.668
122,895
132, 790
.668
134 330
149, 876
.659
155, 660
193, 609
.658
157, 280
r 257, 447
.656
138, 075
311,737
.656
121, 925
94,815
239, 632
211, 477
3,873
112, 370
85, 340
253, 563
222, 933
3,502
99, 235
73, 905
262, 467
231, 503
6,486
89, 090
63, 270
256, 885
225, 317
5,939
78, 110
53, 290
242, 509
210, 029
5 699
84,840
55, 330
238, 803
205, 178
4,454
87, 355
58 765
227, 499
194, 286
6 982
85, 410
60, 010
218, 371
186, 776
3,559
105, 935
78, 855
232, 255
201,425
4,912
119,915
93 225
262, 606
231,524
4 503
149, 720
118, 750
313, 276
279, 886
4,944
151, 225
120, 975
'r 373, 855
339, 81 2
4,183
128, 490
102, 200
417, 859
383, 715
.436
.444
.465
.463
.457
.431
427
.422
.411
407
.408
.406
.405
20,660
3,500
273, 250
21, 200
3,650
277, 300
14, 600
3,250
243, 500
10,250
3,725
208, 000
9,050
3 275
167, 100
10, 100
4,575
171,750
5 050
170, 600
4,550
160, 000
4 300
201, 750
4 480
243, 500
5, 350
322, 600
3,775
327, 600
2,675
264, 500
7,975
417, 109
7,482
480, 266
8,354
508, 805
7,190
493, 073
7, 519
447,175
8,320
382, 563
8,662
313, 741
10, 154
262, 904
9,489
238, 043
7,849
262 319
8,688
366, 926
9,579
475, 333
6,993
511, 696
2,321
10, 570
1,665
9,029
1,484
5,764
1, 361
12, 342
1 071
7,740
365
6,539
2 334
8 956
1,527
7,785
2 423
11, 106
1 969
8 827
2, 718
13, 439
539
14, 848
10.80
6.33
10.80
6.38
10.80
6.39
10.80
6.40
10.80
6.39
10.80
6.33
6 27
6 21
6.12
5 96
5 92
5.79
5.76
11,017
4,439
5.33
10, 238
4,062
5.43
9,126
3,553
5.54
8 664
3,247
5.65
7 891
2 769
5.70
8 389
3,250
5.63
8 706
3 458
5.50
8 533
3 346
5.40
10 100
4 059
5.27
10 854
4 522
5.05
12, 610
5, 435
4.92
12, 349
5,492
4.87
11 508
4,742
4.98
9,950
85,300
9,900
70,650
6,175
50, 590
5,475
45, 100
4,840
43,000
5,840
65, 950
7 400
78 000
7,150
80, 300
8 250
108, 700
8 100
124 900
9,200
148, 400
9,390
142, 350
10, 170
113, 200
21,385
162,150
23, 963
167,428
22, 273
153,762
20, 212
135, 177
17 009
124, 553
15 181
127, 715
15 411
132 265
12 844
128, 820
13 311
132, 555
13 391
130' 487
14, 930
154, 334
14, 443
159, 895
13 615
133, 300
3,453
3,567
2,921
5,824
2,599
2,515
3,186
3,365
3 695
4,196
3 694
8,851
3 495
2 706
2,850
1,690
5 371
2,260
3 824
8,073
3,394
7,832
2,920
5,131
.165
.165
.167
.166
.166
.164
.163
.160
.158
.153
.149
.147
306
238
5,994
1,432
6,221
5,136
5,578
26, 892
5,366
2 630
24, 941
6,420
92, 489
2 748
20, 061
13, 256
2 525
15, 265
10, 915
2 671
10, 775
10, 891
2 762
6,386
11, 256
2 290
3,278
11,332
1 536
1,377
12, 331
r
r
r
7,132
7,182
10, 597
13, 428
8,006
929, 033
1,088
6, 463
13, 141
9, 978
932, 445
1,229
r
r
8,634
8,159
11, 126
2, 505
4, 328
763, 491
1,141
DAIRY PRODUCTS
Butter, creamery:
Production (factory)J
thous. of Ib
Stocks, cold storage, end of month
do
Price, wholesale, 92-score (New York) .dol. per lb__
Cheese:
Production (factory), totalf
thous. of Ib
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 Ib
Condensed and evaporated milk:
Production :t
Condensed (sweetened):
Bulk goods
thous. of Ib
Case goodsO
do
Evaporated (unsweetened), case goods- _do
Stocks, manufacturers', case goods, end of month:
Condensed (sweetened) __ . _
thous. of Ib Evaporated (unsweetened)
__
do
Exports:
Condensed (sweetened)
do
Evaporated (unsweetened)
do
Prices, wholesale, U. S. average:
Condensed (sweetened)
dol. per case _
Evaporated (unsweetened)
do
Fluid milk:
Production
mil of Ib
Utilization in mfd. dairy products
do
Price, dealers', standard grade
dol. per 100 lb_.
Dry milk:
Production: J
Dry whole milk
thous. of Ib
Nonfat dry milk solids (human food)
do
Stocks, manufacturers', end of month:
Dry whole milk.
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_.
.146
FRUITS AND VEGETABLES
Apples:
Production (crop estimate)
thous. of bu__
416
Shipments, carlot
no. of carloads
Stocks, cold storage, end of month_. thous. of bu__
153
9,744
Citrus fruits, carlot shipments
no. of carloads..
Frozen fruits, stocks, cold storage, end of month
thous. of lb__ 593, 518
Frozen vegetables, stocks, cold storage, end of
month
.thous. of lb__ 385, 494
Potatoes, white:
Production (crop estimate) t
-thous. of bu_.
Shipments, carlot
no. of carloads
13, 126
Price, wholesale, U. S. No. 1 (New York)
dol. per 100 lb_.
6.708
1
••306
12,317
2 100 416
267
123
9,015
556,717
r 655
r
578, 699
556, 897
532, 993
493, 402
455, 479
481, 129
496, 233
449, 348
441, 235
456, 980
' 487, 259
463, Oil
530, 091
576, 522
569, 974
534, 933
494, 893
450, 265
419, 899
384, 285
361, 217
' 384, 292
J
12, 341
16 508
21 536
7.025
6.188
4.792
17 282
347 504
18 300
23 101
20 694
24 871
1 Q ^7
19 142
r 9^ 938
f
465, 129
2 382 835
1 ^ A.R3.
5.481
4.971
5.369
3.969
5.317
4.085
4.013
2. 917
* 2. 231
3
'Revised.
> Preliminary.
» Estimate for 1952. Revisions for 1945-50 for apples are as follows (thous. bu.): 66,686; 118,901; 112,892; 89,330; 134,002- 124,448
August 1 estimate
o"Figures beginning July 1952 exclude production of wines and vermouth; for July 1951-June 1952, such production totaled 91.000 gallons.
^Revisions for production of dairy products prior to November 1950 are available upon request as follows: Beginning 1949 for butter, cheese, and nonfat dry milk solids; beginning 1950 for
condensed and evaporated milk and dry whole milk. Revisions for fluid milk (January 1940-February 1951) will be shown later. Revised estimates for production of potatoes for 1944-49 are
shown in corresponding note in the September 1952 SURVEY.
©Figures beginning 1950 represent whole milk only; earlier data cover both whole and skimmed milk.
SURVEY OF CURRENT BUSINESS
S-28
Unless other-wise stated, statistics through
1950 and descriptive notes are shown in the
1951 Statistical Supplement to the Survey
September 1953
19 52
July
August
September
1953
October
November
December
January
February
March
April
May
June
July
FOODSTUFFS AND TOBACCO—Continued
GRAIN AND GRAIN PRODUCTS
Exports, principal grains, including flour and meal
thous. of bu.Barley:
Production (crop estimate) t
do
Receipts principal markets
do
Stocks, domestic, end of month:
Commercial
do
On farmst
do
Exports, including malt
do
Prices, wholesale (Minneapolis):
No. 2, malting
dol. per bu__
No. 3, straight..
do
Corn:
Production (crop estimate) t
mil of bu
Grindings, wet process
thous. of bu_.
Receipts, principal markets
__
do
Stocks, domestic, end of month:
Commercial
_
do
On farmst
mil of bu
Exports including meal
thous of bu
Prices, wholesale:
No. 3, white (Chicago)
dbl. per bu_.
No 3 yellow (Chicago)
do ..
Weighted average, 5 markets, all grades. .do
Oats:
Production (crop estimate) t
mil of bu
Receipts, principal markets
thous. of b u _ Stocks, domestic, end of month:
Commercial
do
On farmst
do
Exports including oatmeal
_
do
Price, wholesale, No. 3, white (Chicago) -dol. per bu.^
Rice:
Production (crop estimate) t
thous. of bu._
California:
Receipts domestic, rough
thous. of Ib
Shipments from mills, milled rice
do
Stocks, rough and cleaned (cleaned basis), end
of month
thous. of l b _ _
Southern States (Ark., La., Term., Tex.):
Receipts, rough, at mills
thous. of l b _ _
Shipments from mills, milled rice§
do
Stocks, domestic, rough and cleaned (cleaned
basis) end of month
thous of Ib
Exports
do
Price, wholesale, head, clean (N. O.)._dol. per Ib. .
Rye:
Production (crop estimate) t
thous. of bu._
Receipts, prin cipal markets t
do
Stocks, commercial, domestic, end of month. do
Price, wholesale, No. 2 (Minn.)
dol. per b u _ .
29, 169
35, 649
38, 870
45, 025
56, 484
52, 510
39, 287
48, 066
38,306
33, 654
30, 849
227, 008
7,659
6,877
7,005
9,402
8,161
7,479
6,527
40, 261
1
23, 234
11, 264
8,613
8,294
14, 861
17, 899
16, 967
10, 717
5,960
1,374
2,161
1,096
1,064
6,949
3 25 567
1,018
9,070
3,829
8,386
57, 396
2,556
7,555
4,367
13,415
99,177
4,237
11, 902
5,575
20, 085
132, 890
6,207
18, 989
3,560
1.612
1.430
1.709
1.648
1.626
1.480
1.631
1.545
1.598
1.505
1.612
1.457
1.581
1.456
1.495
1.395
1.521
1.459
1.538
1.446
1.531
1.387
1.440
1.265
1.420
1.236
9,557
14, 293
10, 194
18, 206
11,006
21,567
12. 095
48. 645
10, 769
56. 549
i 3, 307
9, 965
33, 489
10, 700
22, 037
10, 336
18, 195
11,373
21. 403
11, 406
19. 601
11, 134
20, 621
11,033
24, 690
2 3, 330
9,772
24, 231
20, 772
17, 167
60, 880
46, 101
21, 740
16, 087
7,568
8,773
12, 492
15, 774
995.3
11, 939
10, 218
16,005
37, 288
1, 466. 4
8,986
29, 840
7,237
62, 039
2, 1 73. 2
22,183
51, 032
2,854
18,186
s 171.4
5,275
31, 204
3, 689
(4)
1.808
1. 735
(4)
1.808
1. 764
(4)
1.760
1.716
1.962
1. 586
1.571
2. 135
1.575
1.569
2.109
1.630
1.597
2 081
1.605
1.573
(*)
1. 551
1.525
2. 095
1. 562
1.540
(4)
1.573
1.557
(4)
1.600
1.578
(4)
1.546
1.522
(4)
1.579
1.511
21, 604
22, 030
10, 705
5,573
4,735
i 1 , 268
13, 979
6,708
6,884
6,796
4,714
4,854
7,780
2 1,231
17, 033
24, 101
30, 814
26, 546
21, 592
19,819
10,828
238
.881
261
.800
12, 734
456. 956
935
.797
11,740
319
.865
34, 204
1,006,932
223
.920
30, 140
328
.829
286
.782
328
.772
11, 958
3 220 067
358
.752
40, 996
36, 124
23, 302
41, 993
88.012
69. 705
89, 398
78, 442
90. 896
49, 060
72, 663
76, 436
96, 375
63, 242
78, 020
55, 941
79, 454
49, 364
7,276
25, 041
791, 661
279
.919
278
.904
12, 593
3,298
177, 837
61. 546
154, 481
66, 808
12, 153
65, 882
107, 170
90,015
80, 077
62, 143
74. 247
48, 063
48, 982
44, 537
49,517
320, 328 1, 098, 650 1,338,113
5
102, 409 338, 871
361. 716
369, 394
316, 100
219, 191
276,817
127. 747
225, 283
61, 571
175, 366
17, 044
73, 162
8,169
106, 741
9,937
147, 581
15, 567
131, 382
6,261
84, 077
995, 513
149, 231
.106
829, 159
203,331
. 108
699. 757
199, 698
.108
550, 827
80, 638
.108
482, 864
114.183
.121
370, 233
113, 180
. 124
235, 052
62, 057
.124
111,633
63, 625
.124
29, 640
321
2, 685
1.831
239
2, 254
1.751
240
2.320
1.753
1,488
3. 373
1.614
1,201
3.627
1.516
502
3,630
1.388
1
30, 032
11,757
101, 039
61,979
141,312
.105
176, 842
51, 859
.105
595, 654 1, 104, 889
199,214
101,657
.104
.105
1,770
3,210
1.951
815
3, 285
1. 861
328
2,917
1.914
302
2, 698
1.978
15, 910
2, 470
2,892
1.920
Wheat flour:
Production:
Flour
thous of sacks (100 Ib )
Operations, percent of capacitv
Offal
short tons..
Grindings of wheat
thous. of bu..
Stocks held by mills, end of quarter
thous. of sacks (100 Ib.)
Exports
do
Prices, wholesale:
Spring, short patents (Minneapolis)*
dol. per sack (100 lb.)._
Winter, hard, short patents (Kansas City) *.. do _ _
r
l
111,338
2.547
2. 251
2.154
2.314
2.447
2. 323
2.211
2.413
2.470
2. 409
2.288
2.474
2. 504
2. 416
2.329
2. 519
2. 541
2. 458
2. 306
2. 567
2. 533
2. 445
2.329
2.568
2. 490
2. 402
2. 380
2.530
2.492
2.358
2. 355
2. 505
19, 099
78.2
387, 693
44, 530
19, 177
82.3
386,219
44, 698
19, 714
84.7
396, 826
45, 901
21,081
82.7
424, 466
49.. 088
18, 671
88.9
377, 270
43, 458
18, 990
79. 3
380,119
44,107
19. 783
87. 3
397, 704
45, 968
1,796
1,479
4,834
1, 893
1, 050
1,718
4 15*>
2, 248
5.590
5.225
5. 505
5.225
5.390
5.375
5. 035
5. 500
5. 830
5.625
5.825
5.525
2
.760
2
108 133
110,166
93, 444
1
2,449
1,568
1.972
18, 348
311
.907
Wheat:
i 1,291.4
Production (crop estimate), totalt
mil. of bu..
i 238. 6
Spring wheat
do
1
1,052.8
Winter wheat
do
15, 809
59, 153
23, 399
23, 372
43, 666
21,383
Receipts, principal markets
- __thous. of b u _ _ 149,329
23, 804
211, 636
249. 807
Disappearance j
do
Stocks, end of month:
189, 545
265, 465
190, 469
251,212
224, 407
261, 241
237, 465
242, 463
Canada (Canadian wheat)
do
1 103 275
1, 344, 121
United States domestic totalcf t
do
279,
426
231, 647
308,
618
240,
968
259, 257
313, 561
276, 075
293, 700
Commercial
do
Interior mills, elevators, and warehouses
365,
177
311,752
thous o f b u
128,199
150, 243
Merchant mills
do
399, 412
510, 819
On farmst
do
~~~21~417~ ~~~26,~83i"
27, 1 54 ~~~33,7)5T ""26," 149"
29, 786 ""34,811" "~29~ 298
Exports, total, including
flour
do
17,232
23, 385
22, 744
25, 586
24, 547
16, 146
30, 873
29, 193
Wheat only
__ __ d o _ - _
Prices, wholesale:
No. 1, dark northern spring (Minneapolis)
dol. per bu.
No. 2, hard wintei (Kansas City)
do
No. 2, red winter (St. Louis) ...
__ do
Weighted avg., 6 markets, all grades
do
2243,869
8,037
10, 110
19.833
263, 986
25, 917
27, 035
272, 551
840 836
217. 258
268r 135
255, 780
211,909
205, 929
239, 783
3 559 349
3 239, 330
246 186
101 691
268. 440
35, 586 ~"28~15i~ ~ "197769
32, 491
24, 725
15, 985
3180, 407
3 58 408
3 72, 840
17, 535
13, 352
2.521
2.395
2.558
2. 355
2.145
2.530
79, 993
283 265
r
2. 551
2.529
2.387
2.270
2.529
17, 041
79.0
336, 676
39, 435
18. 565
78.0
363, 955
42. 903
17,351
73.5
341,898
40, 103
1,690
1,593
4 544
1,328
1,471
1, 624
4,093
1,795
5.765
5. 525
5. 855
5.425
6.075
5.675
5. 980
5.675
5.935
5.675
5.550
v 5. 150
(4)
v .124
2 17, 452
1,136
3,755
1.268
2 1202. 8
2 324. 5
2 878. 3
103,118
267, 564
342, 428
2.492
2. 036
1.793
2.265
2.443
2.086
1.808
2.202
17, 695
18, 035
78.8
76.6
347, 478 ' 356, 570
40. 904
41, 767
18, 720
75.6
371,000
43, 344
p o. 922
P 5. 276
Revised.
P Preliminary.
Estimate for 1952.
August 1 estimate.
3 Old crop only; new grain not reported until beginning of new crop year (July for barley, oats, nnd wheat; October for corn).
* Noquotation,
& Seenote"§".
tThe indicated grain series have been revised as follows: Production—barley, corn, oats, 1944-49: rye, wheat, 1945-49; rice, 1949; stocks on farms—barley, corn, oats 1944-49' wheat 1945-49'
domestic disappearance of wheat and total United States stocks of domestic wheat, 1945-49. All revisions will be shown later.
'
'
fRevised series. Data are furnished by the Chicago Board of Trade and represent receipts at 12 interior primary markets; for names of markets and data for January 1948-July 1950, see
note marked "t" on p. S-28 of the October 1951 SURVEY.
§ Data through July 1952 reflect adjustments for certain intermill transact ions; July 1952 figure comparublewith data beginning August 1952 is 108,570,000 pounds.
cfThe 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,
*New series. Data prior to February 1951 will be shown later.
SURVEY OF CUEEENT BUSINESS
September 1953
Unless otherwise stated, statistics through
1950 and descriptive notes are shown in the
1951 Statistical Supplement to the Survey
S-29
1953
1952
July
August
Se
m
E£ -
October
November
December
January
February
March
April
July
June
May
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 Ib...
Steers, stocker and feeder (Kansas City)._do
Calves, vealers (Chicago)
do_ _ _
Hogs:
Slaughter (Federally inspected)
thous. of animals..
Receipts, 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 hog_ .
Sheep and lambs:
Slaughter (Federally inspected)
thous. of animals. _
Receipts, principal markets
do_ _.
Shipments, feeder, to 8 corn-belt States
do
Prices, wholesale:
f*
Lambs, average (Chicago)
dol. per 100 lb..
Lambs, feeder, good and choice (Omaha) .-do
430
1,100
1,898
185
426
1,135
2,078
338
496
1 215
2,641
563
32.53
25.24
32.00
32.52
25.17
32.00
3,641
2,268
602
1 390
3, 143
1,088
510
1 151
2 379
667
523
1 252
2 023
250
453
1 313
1 877
184
422
1 170
1 609
80
535
1 299
l' 952
119
541
1 371
2 019
146
504
1 345
2 055
142
32.19
23.57
31.50
32.09
22.76
33.00
31.37
22.31
33.00
28.77
20.50
29.00
26 04
21.73
30 50
23 41
20.91
33 50
21 98
21.19
29 00
21 50
19.91
25 50
21 83
19.80
27 50
3,592
2,203
4,290
2,540
5,492
3,099
5,772
3,326
7,251
4,233
6, 267
3,571
4, 550
2,562
4,962
2,785
4,325
2,358
19.96
19.98
19.11
18.55
16.76
16.52
17. 98
19.39
20.50
11.4
11.9
11.1
12.1
11.4
10.7
12.0
13.5
13.8
908
1,067
176
1,020
1,455
479
1,243
2, 119
722
1, 427
2,228
788
1,069
1,289
319
1,218
1,267
203
1,289
1 295
147
1,088
1,038
83
28.38
24.25
28.62
24.63
25. 50
23.10
23.88
21. 25
22.62
20.50
21.62
19.18
21.50
20.52
1,418
983
49
1,395
825
50
1, 527
696
37
1.819
636
55
1, 742
779
59
2,127
1,046
59
659, 036
171, 444
1,666
669, 445
167,437
1,240
713, 624
184, 158
1,150
801, 489
214, 594
1,365
662, 271
252, 306
1 153
734, 974
286, 299
1,319
r
586
1 450
2 440
167
1 498
2 257
192
21 73
15.22
19. 50
24.26
16.75
' 22 99
3,643
2,031
3,607
2,119
3,276
1,836
21.88
23. 54
23.24
23.29
14.2
15.5
15.5
16.5
1,190
1,173
113
1,100
1 115
93
1,015
1 147
121
1,055
1,108
94
1,108
1,158
125
22.38
20.01
23. 12
20.83
24.00
0)
25.12
C1)
25.50
0)
25.38
17.94
1, 572
1 043
63
1,2 712
990
55
1,649
2
929
55
1,537
2
818
50
701, 489
274. 457
1 272
779, 450
256, 439
1 368
826, 083
234 891
1 794
812, 729
210 274
1 965
r
616
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. oflb..
Stocks cold storage, end of month
_ __do __
Exports
do
Price, wholesale, beef, fresh, steer carcasses, choice
(600-700 Ibs.) (New York).,.
dol. per lb_.
Lamb and mutton:
Production (inspected slaughter)
thous. of lb..
Stocks cold storage, end of month
-do
Pork, including lard, production (inspected
slau gh ter)
thous. of 1 b_ _
Pork, excluding lard:
Production (inspected slaughter)
do
Stocks cold storage end of month
_ do _
Exports
do
Prices, wholesale:
Hams smoked composite
dol. per lb.
Fresh loins, 8-12 Ib. average (New York)._do
Lard:
Production (inspected slaughter) .... thous. of lb_.
Stocks, dry and cold storage, end of month f_ do
Exports
do
Price, wholesale, refined" (Chicago)... dol. per lb.
2
1,999
1 038
65
775, 091
287 258
877
2
1,617
r2749
46
r
859, 894
190, 408
2 848
1,579
2
632
877, 290
163, 458
.534
.559
.562
.556
.545
.514
.477
.432
.392
.382
.385
.387
.426
38, 601
11,814
43, 880
11,318
52, 839
12, 553
61, 726
1 6, 002
47, 505
17,580
56,616
21, 912
61, 371
20,816
53, 166
23, 670
58, 129
19,945
52, 458
1 7, 493
46, 755
14 720
44, 558
r 13, 461
47, 324
10. 968
720, 191
681, 587
760, 409
955, 425 1,031,841 1,335,205 1, 162, 504
816, 995
874, 686
770, 875
677, 203
712, 978
654, 193
525, 855
542, 707
10. 833
506, 990
407, 558
5,892
571, 228
290, 931
5,673
715,279
234, 894
5,768
533, 230
414, 227
6,768
489, 360
340, 520
.585
.552
.616
.612
.571
.569
.569
.515
141,823
208, 025
32, 421
.140
127, 696
167,718
37, 288
.138
138, 047
143, 223
26, 611
.143
175, 664
111,912
43, 043
.143
47, 806
157, 045
.215
52, 536
144, 508
.235
64, 955
182, 786
.245
4,431
1,664
4,125
1,140
2.728
163, 359
.525
765, 850
319, 643
7,386
984, 200
489, 152
8,742
841, 949
595, 546
8 605
601, 403
604, 813
9, 983
650 145
569, 204
7,745
570 190
538, 025
5 210
502 422
459' 755
6 392
.559
.402
.581
.424
.595
.464
.602
.479
.592
.523
619
.567
.650
.576
» . 683
.597
194,381
136,610
46, 638
.133
256, 269
210, 994
44, 347
.113
234, 448
241, 760
50 867
.120
157, 799
241, 890
45, 881
.125
164, 072
239, 009
39 862
.135
146, 255
225. 936
40 675
.135
128, 166
200, 621
33 841
.150
130, 863
169, 311
28 908
.140
120, 175
109, 342
81, 748
279,191
.225
74, 618
294, 424
.250
70,745
278, 595
.263
38, 884
261 072
.310
34, 125
220, 606
.318
39, 046
174, 243
.333
40, 934
140 371
.345
44 435
123 485
.325
46, 431
117 876
.245
46, 075
111,876
P . 275
4,081
1,069
4,371
758
4,480
957
5,037
685
5 441
442
5 328
1,168
6 298
2,120
6 094
2 131
5 872
2 453
2,169
144, 326
1,709
123, 661
1,000
95, 333
393
72, 462
153
50, 176
120
34 980
248
42, 419
375
65 201
816
98 978
132 294
.553
.553
.631
.560
.489
.454
.443
. 495
.497
.486
. 552
.449
r
p. 162
POULTRY AND EGGS
Poultry:
Receipts 6 markets
- - _ . thous. of Ib..
Stocks cold storage end of month ~
do
Price, wholesale, live fowls (Chicago) § dol. per Ib- .
Eggs:
Production farm
millionsDried egg production
. .._ thous. of lb.
Stocks, cold storage, end of month:
Shell
- - --thous. of cases. _
Frozen
thous. of Ib
Price, wholesale, extras, large (Chicago^)
dol. per doz._
r
r \ 43|
T
5 051
1 914
4 642
2,088
r
1, 513
159 755
1, 195
154 284
.517
.531
MISCELLANEOUS FOOD PRODUCTS
47, 481
101, 501
102, 603
100, 000
61, 370
113, 845
Confectionery, manufacturers' sales*., thous. of dol._
83, 063
56, 041
81, 213
87, 060
48, 895
77, 096
63, 522
Cocoa:
12, 977
37, 144
32 530
Imports
long tons
9,043
24, 678
13 272
21 775
8,705
26 164
4,210
27 425 r 28 493
.381
.308
300
.354
Price, wholesale, Accra (New York).. dol. per lb..328
.340
.318
.346
.318
.333
".385
.339
.334
CofTee:
1,177
1,455
Clearances from Brazil, total
thous. of bags..
1,453
1, 450
1,601
1,149
1,374
1,456
1,269
1,160
860
999
860
719
924
893
To United States
_ . do. _
817
1,045
757
776
788
846
685
361
411
526
579
529
691
889
611
605
Visible supply United StatesJ
do
666
700
712
776
531
634
511
1,408
2 149
1,869
2,205
1,454
1,815
2,247
1,615
1,394
Imports
- . -- do
1 839
1 256
1 278
Price, wholesale, Santos, No. 4 (New York)
.545
.548
dol. per lb_.553
.535
.545
.538
.618
.540
.540
'.560
J>.592
.573
.553
Fish:
Landings, fresh fish, 5 ports
thous. of lb._
76, 851
64, 754
26, 363
54, 114
49, 126
31, 529
23, 689
20, 492
31, 514
34 911
47 314
176, 254
Stocks. cold storage, end of month
do
183. 826 190.493
169 68fi
109 189
113 581
142 655
119.099
200. 944
170.263 142.040
210.658 192.818
r
Revised.
v Preliminary.
* No quotation.
2 Excludes lard; comparable figure for December 1952 is 922 mil. Ib.
fRevised series. Compiled by the U. S. Department of Commerce, Bureau of the Census, representing factory and warehouse stocks of rendered and refined lard; data prior to February
1952 will be shown later.
§Series revised to represent quotations for heavy type.
*New series. Compiled by the 17. S. Department of Commerce, Bureau of the Census, representing estimated total sales by manufacturers of confectionery and competitive chocolate products. The figures exclude sales of chocolate coatings and cocoa produced by chocolate manufacturers and s^les by manufacturer-retailers with a single business location. Revised data for
January 1949-June 1951 are shown in corresponding note in the September 1952 SURVEY; those for January-May 1952 in the August 1953 issue.
JFor revised data for July 1949-October 1950, see note marked "J" on p. S-29 of the January 1952 SURVEY.
SUKVEY OF CURRENT BUSINESS
S-30
Unless otherwise stated, statistics through
1950 and descriptive notes are shown in the
1951 Statistical Supplement to the Survey
September 1953
1953
1952
July
August
Septem-
October
Novem-
ber
Decem-
ber
January
Febru-
ary
March
April
May
June
July
FOODSTUFFS AND TOBACCO—Continued
MISCELLANEOUS FOOD PRODUCTS—Con.
Sugar:
Cuban stocks, raw, end of month
thous. of Spanish
United States:
Deliveries and supply (raw basis) :
Production and receipts:
Production
short
Entries from off-shore
Hawaii and Puerto Rico
tons.. « ' 4, 058
3,645
3,320
2,895
2,620
2,170
1,970
2,679
3,801
4,906
4,676
4,364
3,908
34, 190
617, 564
167, 422
9,971
573, 936
177, 671
91, 126
725, 621
237, 299
602, 545
387, 590
273, 166
732, ,540
226, 961
108, 362
388, 838
194, 722
123, 853
69, 484
469, 755
149, 498
34, 014
398, 576
143, 730
37, 407
627, 988
192. 443
59, 948
854, 355
248, 129
12, 283
530, 430
235, 756
51, 262
628, 878
180, 490
26, 860
607, 226
234, 674
734, 684
731, 376
3,308
744, 355
742, 146
2,209
680, 035
677,919
2,116
519, 868
518, 373
1,495
596, 070
593, 793
2,277
576, 630
574, 789
1,841
546, 884
545, 674
1,210
878, 155
876, 548
1,607
588, 583
587, 001
1,582
599, 440
597, 627
1,813
790, 640
779, 785
10, 885
886, 890
885, 168
1,722
831
2,525
697
649
1,045
12,376
1, 518
625
1,602
527
1,587
377
1,513
10, 356
1,306
441
1,392
685
1,423
9,095
1,312
14, 326
1,103
346, 907
245, 485
83, 858
305, 205
240, 343
63. 861
124,473
96. 836
17, 875
120, 331
102, 213
9,599
156, 891
129,183
23, 964
269. 495
205, 264
58, 542
260, 306
178, 519
81, 667
361, 182
303, 479
55, 438
341,775
274, 851
62, 664
325, 791
222, 582
93, 039
393, 731
221, 650
165, 748
38, 106
33, 287
43, 038
41, 012
46, 738
43, 590
40, 675
35, 160
2,618
7,198
350
37, 924
32, 493
28, 173
25, 614
46, 834
39, 549
55, 961
48, 433
54, 782
46, 720
40. 271
40, 226
dol. per Ib
.066
.064
.065
.066
.064
.060
.060
.062
.0*4
.064
.064
dol. per 5 Ib
dol. per Ib
thous of Ib
.494
.086
8,482
.494
.086
8,094
.495
.086
9,506
.495
.086
7,430
.495
.086
5,530
.494
.085
6,931
.493
.085
10,466
.490
.083
7,949
.489
.086
10. 590
.494
.086
11,141
'.494
.086
7,943
tons. _
do
do
r
757,414
Deliveries total
do
'754, 156
For domestic consumption
do
For export
-- . do_ _- ' 3. 258
Stocks, raw and refined, end of month
917
thous. of short tons__
6, 116
Exports, refined sugar
short tons Imports:
356, 970
Raw sugar total
do
208,611
From Cuba
do
148, 359
From Philippine Islands
do
Refined sugar total
From Cuba
Prices (New York) :
Raw, wholesale
Refined:
Retail
Wholesale
Tea imports
do
do
.
._ .
TOBACCO
Leaf:
Production (crop estimate) J
mil. of Ib
Stocks, dealers' and manufacturers', end of quarter total
mil of Ib
Domestic:
C igar leaf
do
Air-cured, fire-cured, flue-cured, and miscellaneous domestic
mil of Ib
Foreign grown:
Cigar leaf
do
Cigarette tobacco
do
Exports includine 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-pa''d
do .
Cigars (large) tax-paid §
thousands
Manufactured tobacco and snuff, tax-paid§
thous. of lb._
Exports, cigarettes
millions
Price, whosesale, cigarettes, manufacturer to
wholesaler and jobber, f. o. b. destination*
dol. per thous.-
0
r
.064
p .064
.494
.086
9, 215
1
.498
p .086
3
2 2, 255
r
4 491
3,951
4, 498
362
341
391
368
3,410
3, 963
«• 3, 922
3,472
18
161
19
168
19
167
2, 086
4, 035
18
177
26, 087
8,966
34, 730
9,619
50, 451
9,173
41,777
9,584
43, 055
8,226
36, 739
7,736
30, 746
8,918
22, 900
8,290
41, 020
9,085
50,103
7,961
35, 682
8,787
33, 263
9, 578
16, 319
6,827
7,230
2,263
18, 554
7,011
8,373
3,170
20, 051
7,366
9,406
3,279
21,342
7,936
9,781
3,625
16, 123
6,378
6,843
2,903
16, 369
6,469
6,662
3,237
16, 683
6,394
6,893
3,396
16, 385
6,638
6,639
3,108
17, 947
7,138
7, 458
3, 352
18, 326
6,935
8,064
3,328
17, 806
7,246
7,494
3,066
18 170
7,347
7,430
3, 393
2,833
33, 837
468, 037
4,366
35, 972
492, 613
4,325
34, 950
498, 518
4,294
37, 372
548, 196
3,408
30, 386
528, 081
2, 859
30, 066
448, 045
2,649
32, 498
431, 158
2,394
32,212
542, 594
3,856
34, 105
469, 164
2,703
31, 607
477, 520
2,658
30, 587
507, 629
3 130
33, 304
501 499
16, 239
1,329
18, 455
1,810
19, 315
1,266
20,791
1,304
15, 653
1,244
15, 786
1, 626
16,804
1,306
15, 480
1,348
17, 056
1,813
17, 887
1,331
17, 488
1 482
17,812
1 119
p 15, 939
3.555
3.555
3.555
3.555
3.555
3. 555
3.555
3.555
3.938
3.938
3.938
3.938
p 3. 938
r
P 29, 957
* 489, 729
LEATHER AND PRODUCTS
HIDES AND SKINS
Imports, total hides and skins J
_ thous. of lb.
Calf and kip skins
thous. of pieces Cattle hides t--do
Goat and kid skins t
do
Sheep and lamb skins _ _ . . -do _ Prices, wholesale (Chicago):
Calfskins, packer, heavy, 9^/15 Ibs.* dol. per lb._
Hides, steer, heavy, native, over 53 lbs.*___do
LEATHER
Production :t
Calf and kip
thous. of skins
Cattle hide
.
. thous. of hides
Goat and kid
thous. of skins
Sheep and lamb..
do
Exports:
Sole leather:
Bends, backs, and sides
thous. of Ib
Offal, including belting offal.-- . .
do ..
Upper leather
thous. of sq. ft
Prices, wholesale:
Sole, bends, light, f. o. b. tannery*-- -dol. per lb._
Upper, chrome calf, B and C grades, f. o. b. tannery*
dol. per sq. f t - _
19, 460
211
232
3,416
1,903
16, 003
209
75
2, 648
2,520
11, 963
194
90
2,804
1,100
13, 759
97
45
2,796
2,059
9,134
142
21
2 381
720
14, 149
182
50
3,771
1,195
12, 429
137
20
3,673
1,392
11, 264
72
38
2,4,58
1,431
13, 093
217
41
2,870
1,759
18, 407
123
31
3,055
4,466
18, 166
253
21
3 032
3,826
20, 258
2,271
47
2,731
4,629
.425
.155
.450
.175
.475
.160
.488
.160
.513
.170
.488
.165
.488
.120
.550
.137
.563
.128
.513
.138
.613
.153
.625
.150
684
1,605
2,588
1,912
913
1,910
2,287
2,711
967
1, 881
2 330
2,551
1 045
2,224
2 937
2,942
846
1,963
2 572
2,442
994
2,102
2 985
2,244
930
2,123
2,802
2,215
857
2,006
2 709
2,368
936
2,020
3,172
2,319
871
2,133
2 979
2,435
r
849
2 117
' 2 922
2 618
826
1 996
3 123
2 520
56
73
2,134
39
45
2,798
75
51
2 288
25
92
3, 125
24
13
2 512
65
43
2,818
57
96
3,000
82
33
2,743
42
76
2,996
23
73
4,002
65
55
3 959
24
53
3 492
.705
.710
.695
.690
.685
.705
.705
.680
.690
.680
.725
'.720
r
* 0. 513
P. 157
P. 689
r
.873
.987
.968
1.007
.890
.928
.938
.955
1.013
1.000
1.125
1. 127
p 1. 083
r
:
2
2
Revised. v Preliminary.
° June 1952 revision, 4,358,000 Spanish tons.
Including northern New Jersey.
Revised estimate for 1952.
August 1 estimate.
^Revisions for tobacco (1944-49) are shown in note marked "§" in the September 1952 SURVEY; those for the indicated series for hides and skins (1950) in note marked "J" in the October
1951 issue. Revisions for leather production for January-March 1952 will be shown later.
§Revised to represent data based on number of stamps used by manufacturers, except for the latest month which is based on stamps sold to manufacturers; revisions prior to May 1952
will be shown later.
*New series. Compiled by U. S. Department of Labor, Pureau of Labor Statistics: data prior to August 1951 for sole leather and prior to February 1951 for other indicated series will be
shown later.
SURVEY OF CURRENT BUSINESS
September 1953
Unless otherwise stated, statistics through
1950 and descriptive notes are shown in the
1951 Statistical Supplement to the Survey
S-31
1953
1952
July
August
September
October
November
December
January
February
March
April
May
June
July
LEATHER AND PRODUCTS—Continued
LEATHER MANUFACTURES
Shoes and slippers :J
Production, total ..
thous. of pairs
Shoes, sandals, and play shoes, except athletic,
total
thous. of pairs
By types of uppers :c?
All leather
do
Fart 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, f. o. b. factory:*
Men's and boys' oxfords, dress, cattle hide
upper, Goodyear welt
1947-49=100
Women's oxfords (nurses'), side upper, Goodyear welt
1947-49 = 100
Women's and misses' pumps, suede split.do
38,520
46, 552
44, 100
46, 341
38 932
42 033
45 268
44, 872
48, 723
44 968
41, 858
40, 824
33, 946
40,703
37, 842
39, 185
32 659
37 303
41, 778
40, 967
44, 079
40 193
36, 979
35, 790
29, 938
4,008
36, 385
4,318
33, 906
3,936
35, 057
4 128
29, 080
3 579
32, 750
4 553
36, 278
5 500
35, 336
5 631
37, 520
6,559
33, 898
6 295
31, 986
4 993
31, 745
4 045
7,256
1,485
18, 385
4,393
2,427
4,070
169
335
246
8,986
1,949
21, 910
5,135
2,723
5,249
234
366
331
8,775
1 826
19, 419
5,040
2,782
5 638
264
356
386
9,339
1 709
19, 446
5,553
3,138
6 442
286
428
433
7,866
1 442
15 580
4,882
2 889
5 668
237
368
346
9 010
1 539
18 028
5,585
3 141
4 161
'229
340
305
8 953
1 558
21 718
6,257
3 292
2 946
226
318
293
8,745
1 515
21, 005
6,298
3 404
3 369
238
298
388
9,125
1 622
22, 945
6,527
3,860
4 059
265
320
468
8 979
1 474
20 765
5,436
3 539
4 271
279
225
353
8,532
1 574
18,490
5,139
3 247
4 375
280
224
348
8 136
1 595
18, 161
5,077
2 821
4 533
258
243
253
108.5
108.5
108.5
108.5
109 0
110 3
110 3
110 3
110 3
110 3
110 3
113.3
112.9
113. 3
112.9
113.3
112.9
113.3
112.9
114 5
112.9
117 1
113.4
117 1
113.4
117 1
113.4
117 1
113.4
117 1
110.7
117 5
110.7
r
110 3
110 3
118. 1
110.7
118.1
110.7
LUMBER AND MANUFACTURES
LUMBER—ALL TYPES
Exports, total sawmill products
_ M bd. ft
Imports, total sawmill products
do
National Lumber Manufacturers Association :0
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
I.
SOFTWOODS
'Douglas fir:0
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", R. L.
dol. per Mbd. ft. _
Flooring, B and better, F. G., 1" x 4", R. L.
dol. per Mbd. ft..
Southern pine:0
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. ft.Sawed timber _ _ _ .
do _.
Boards, planks, scantlings, etc
do
Prices, wholesale, composite:
Boards, No. 2 and better, 1" x 6" x R. L.*
dol. perM bd. ft._
Flooring, B and better, F. G., 1" x 4" x S/L*
dol. per Mbd. ft. .
Western pine:©
Orders new
mil. bd ft
Orders, unfilled, end of month
- - do
Production
do
Shipments
do
Stocks, gross mill, end of month
do
Price, wholesale, Ponderosa, boards, No. 3 common, 1" x 8"
dol. per M bd. ft
48, 717
183, 140
67, 746
200 342
48 534
227 340
40 949
255 581
44 363
241 379
61 470
243 479
54 326
189 269
62 158
195 457
47 247
238 076
58 631
219 381
53 192
242 183
53 765
270 35C
3,247
630
2,617
3,093
569
2,524
3,454
705
2,749
3,377
656
2,721
3 526
701
2,825
3,520
685
2, 835
3 568
692
2 876
3,594
^20
2,874
3 069
691
2 378
3 079
708
2,364
2 856
618
2 238
2 877
630
2,247
2 973
658
2 315
3 025
705
2 320
2 941
677
2 264
2 940
738
2 202
3 284
8,272
3,192
5,080
8,348
3,241
5,107
8,353
3.256
5,097
8 328
3,228
5 100
8 324
3,211
5, 113
8 304
3 199
5 105
8 934
3 152
5 082
884
975
773
726
967
19, 542
8,886
10, 656
835
893
912
917
961
36,450
12, 369
24, 081
890
780
959
1,003
917
18,856
7,268
11 588
925
756
923
949
892
15 843
7,462
8 381
774
753
785
777
899
14 110
4, 156
9 954
823
811
812
764
948
16 455
4 984
11 471
899
888
860
817
991
22 119
6 783
15 336
3 516
3 200
3 428
2 646
3 356
2 858
3 582
2 657
3 306
2 806
2 573
2 780
2 605
3,408
688
2,720
8 234
3 091
5 143
8 163
2 947
5 216
8 094
2 802
5 292
2,644
851
921
849
810
1 030
17 815
6,663
11 152
959
925
967
940
1 057
22 393
6 800
15 593
638
783
658
802
543
701
622
3 337
674
2 663
3,207
647
2,560
7 851
7 955
7 739
5 311
5 163
5 247
1 032
814
894
885
863
847
838
883
888
1 018
30 276
14 691
15 585
1,008
29 067
16 245
12 822
1,002
18 058
7,138
10 920
811
878
751
759
982
Q25
942
978
2,576
2,604
86. 303
86. 436
86. 576
86. 576
86. 310
84. 945
84. 665
84.105
83.405
82.845
79.009
••78.064
P 77. 221
121. 234
120. 418
120.418
120. 418
122. 051
124. 460
124. 460
125. 105
126. 232
127.049
126. 326
126. 396
» 162. 168
756
326
735
764
759
365
705
720
776
372
747
769
802
376
787
798
677
372
670
681
599
295
708
676
758
320
767
733
692
350
700
662
356
767
746
383
830
776
376
754
746
1,589
6,477
1,928
4,549
1,574
5,985
1,351
4,634
1 552
5,317
1,152
4,165
1 541
4,300
1,104
3,196
1 530
6,163
1,776
4 387
1 562
11,517
1,529
9 988
1 596
9,345
1,327
8 018
1 634
7,379
3 016
4 363
1 655
5,821
1 621
4 200
1 709
5,123
1 139
3 984
1 717
5 262
1 335
3 927
752
803
739
709
306
764
752
1 743
1 755
5,590
1,126
4 464
79. 250
80. 260
81.483
81. 572
81. 921
82. 113
81. 402
81. 180
80.675
80.487
79. 439
156. 068
158. 322
158.358
158. 971
158. 971
158. 971
159. 583
159. 706
159. 360
158. 748
156. 604
739
610
746
678
1,715
737
656
730
687
1,758
719
675
702
650
1,810
737
657
740
706
1 844
592
614
572
561
1 855
614
628
462
550
1 767
610
670
426
518
1 675
531
657
429
444
1 660
586
653
1 664
1 709
1 727
83.50
83.54
83.23
81.55
81.31
82 65
83.61
83 64
84 07
85 00
85 04
r 84 92
228, 705
215, 391
93, 329
283, 827
276, 444
102, 029
295, 381
292, 584
104, 049
307, 321
306 791
104 894
237, 048
241 589
100, 925
270, 059
272 669
96 916
289, 083
290 689
97 619
302, 975
301 638
99 103
339, 259
338 115
100 073
351 913
344 257
107 562
334 309
335 972
106 057
345, 269
341 083
110 662
643
554
550
665
676
631
646
650
629
611
714
344
767
741
' 78. 748
156.604
718
679
746
688
1 557
» 78. 197
p 157. 763
714
400
761
685
1 633
P 84 92
SOFTWOOD PLYWOOD
Production
thous. of sq. ft., %" equivalent..
Shipments
do
Stocks, end of month _
_
do
r
HARDWOOD FLOORING
Maple, beech, and birch:
Orders new
M bd ft
4,100
4 050
3 450
3 800
3 900
3 650
4 525
4 300
4 850
4 97K
5 250
4 150
5 075
Orders, unfilled, end of month
do
9,700
9*650
9 500
9 650
9 600
9*325
9 600
9 900
9 650
10 450
9 800
10 350
10 050
Production
do
3,000
4,000
3 900
3 900
4 200
3 200
4 200
3 900
4 000
3 500
3 875
3 100
4 150
3,675
Shipments
_
do _ _
4,250
2,950
3,650
3 800
3,350
4 250
4 125
3 550
4 050
4 050
4 350
5 150
Stocks, mill, end of month
do ...
R OOA
8 Q.^n
in. RKf}
in 525
in finn
in inn
10. 200
in 27fl
9.675
10. 175
10. 000
8. 650
8.900
r
Revised.
*> Preliminary.
^Revisions for shoes, etc., for January-October 1950 are available upon request.
cfThe 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.
§Excludes "special category" items.
*New series. Data are compiled by the U. 8. Department of Labor, Bureau of Labor Statistics: monthly data prior to April 1952 (February 1951 for softwoods) will be shown later.
® Revised monthly data for 1948-March 1952 will be shown later.
SURVEY OF CURRENT BUSINESS
&-32
September 1953
1953
1952
Unless otherwise stated, statistics through
1950 and descriptive notes are shown in the
1951 Statistical Supplement to the Survey
July
August
September
October
November
December
January
February
March
April
May
June
July
73, 043
60, 034
LUMBER AND MANUFACTURES—Continued
HARDWOOD FLOORING—Continued
Oak:
Orders new
Orders, unfilled, end of month
Production
_
Shipments
Stocks, mill, end of month
M bd. ft
do
_.-do
do
do - . -
70, 446
66, 775
79, 941
79, 428
77, 609
75, 162
61, 721
80, 074
81, 531
75, 371
81, 178
61, 132
82, 021
84, 132
73, 260
87, 303
57, 998
91, 034
94, 691
69, 603
63, 707
50, 843
76, 794
74, 393
72, 004
73, 232
56, 093
72, 716
67, 982
76, 738
89 979
66, 898
78, 157
78, 556
76, 339
87, 638
76, 823
72, 283
77, 265
69, 323
98, 269
86, 161
79, 615
85, 226
62, 064
55,268
65, 466
77, 419
77, 825
80, 635
52, 458
62,004
84, 371
88, 359
306, 774
17, 699
261, 581
3,138
285, 251
19, 416
269, 806
15, 032
84, 222
86,584
62, 965
79, 466
79, 821
52, 083
81,390
83,100
50,373
METALS AND MANUFACTURES
IRON AND STEEL
Foreign trade:
Iron and steel products (excl. advanced mfrs.) :
Exports total
short tons
Scrap O
do
Imports total
do
Scrap
do
223, 832
54, 735
89, 559
4,805
302, 079
36, 708
111, 957
7,601
367, 876
21, 991
142, 336
8,024
448, 197
39, 176
221, 304
5, 133
387, 319
19, 790
177, 224
11, 767
439, 064
19, 692
205, 599
8,092
328, 121
12, 147
149 311
5,254
302, 085
24, 012
136, 349
10, 846
313, 408
16, 033
181, 185
10, 185
293, 087
17, 417
266, 254
11, 255
2,201
906
1,295
6,590
1,299
5,291
6,127
3,060
3, 067
7,027
1,379
5,648
6,477
3,270
3,207
7,045
1,388
5,658
7,007
3,573
3,434
7,033
1,428
5,605
6,676
3,444
3,231
6,936
1,350
5, 586
6,820
3,490
3,
330
r
6, 902
r
1,322
r
5, 580
7,008
3 579
3,429
6 632
1,314
5, 317
6,499
3,343
3,156
6,722
1,295
5,427
7,321
3,724
3,597
6,569
1,248
5,321
6,974
3,585
3,390
6,694
1,295
5,400
2,783
1,805
9,906
14, 974
15, 992
8,888
15, 912
16, 301
8,500
14, 271
15,588
7,183
9,448
11, 531
5,119
3, 260
2,970
5,449
3 387
2,002
6,824
3,214
1,909
8,149
4,113
2,181
10, 031
1,904
1,544
27, 388
22, 904
4,484
726
14, 368
7,243
34, 137
29, 449
4,688
847
14, 389
7,659
41, 532
36, 206
5,326
1,172
13, 013
8,048
47, 839
41, 699
6,140
1,065
9,295
7,826
51, 208
44, 318
6,890
1,012
427
8,220
45, 172
39, 055
6,116
746
0
8,293
37, 077
31, 967
5,110
681
0
7,396
29, 949
25, 741
4,207
576
58
63
64
90
88
157
141
1,410
636
432
1,513
1,002
602
1,451
1,119
630
1,392
1,233
689
1,309
1,061
594
1,316
1,142
619
166, 517
45, 266
29, 675
162, 832
63, 716
39, 308
168, 367
75, 950
45, 849
168,609
88,062
52, 922
167, 842
76, 099
46, 708
1,003
946
5,831
5,671
6,164
6,007
6,515
6,510
6,227
6,128
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
Ore
Iron ore:
All districts:
Mine production
thous of long tons
Shipments
do
Stocks, at mines, end of month
do
Lake Superior district:
Shipments from upper lake ports
do ..
Consumption bv furnaces
do
Stocks, end of month, total
_
_ do
At furnaces
do
On Lake Erie docks
do
Tmpnrts
do
Manganese ore, imports (manganese content)
thous of long tons
r
r
r
r
r
7, 050
3, 572
3, 478
6,603
1, 343
* 5, 260
f 6, 664
v 3, 489
*> 3, 175
v 6, 394
r> 1, 343
v 5, 051
9,971
10, 486
9,516
14,287
15,002
8,851
15, 368
15,663
8,556
313
8,257
22, 065
19, 026
3,039
576
8,404
7,764
21, 572
18, 816
2,757
780
13, 597
8,358
26, 247
23,198
3,049
966
13, 745
8,056
32, 070
28, 526
3,544
1,125
95
96
95
103
134
1,333
1,162
622
1,332
1,136
607
1,376
1,264
675
1,306
1,277
683
1,272
1,186
642
1,246
1,196
648
173, 494
80, 680
50, 485
174, 809
87, 249
53, 272
175, 088
86, 515
51, 963
177, 776
94, 481
57, 025
174, 514
95, 923
57, 757
160, 387
82, 050
48, Oil
151, 016
86, 514
50, 819
6,510
6,367
6,564
6,478
5,882
5,832
6,677
6,577
6,231
6,236
T
6,587
6, 546
6,373
J> 6, 251
r
14, 497
8,239
38, 829
34, 443
4,386
4
Pig Iron and Iron Manufactures
Castings, gray iron:§
Orders unfilled for sale
thous of short tons
Shipments, total
do
For sale
do
Castings, malleable iron:§
Orders unfilled for sale
short tons
Shipments total
do
For sale
do
Pig iron:
Production
.
thous. of short tons
Consumption!
do
Stocks (consumers' and suppliers'), end of month §
thous of short tons
Prices, wholesale:
Composite cf
- dol. per long ton
Basic (furnace)
_
do
Foundry, No. 2, f. o. b. Neville Island .do .
r
1,689
1,801
1,864
1,830
1,897
1,964
1,852
1,884
1,895
1,876
1,887
v 1, 977
54.26
52.00
52.50
56.31
54.50
55.00
56.31
54.50
55.00
56.31
54.50
55.00
56.31
54.50
55.00
56.31
54.50
55.00
i 54. 73
54.50
55.00
54. 73
54.50
55.00
54.73
54.50
55.00
54.73
54.50
55.00
54.73
54.50
55.00
54.80
54.50
55.00
148, 259
110, 467
22, 287
161, 733
122, 166
25, 972
167, 211
126, 819
26, 752
175, 675
137, 592
33, 156
182, 181
141, 873
34, 364
179, 615
140, 051
34, 035
165, 649
126, 380
29,552
164, 665
125, 984
30, 381
6,516
56.22
v 56. 00
f 56. 49
Steel, Crude and Semimanufactures
Steel castings:
165, 155
150, 232
119, 036
158, 392
Shipments, total
short tons
124, 626
113, 997
97, 633
121, 402
F o r sale, total
_ _ _ _ ___
do
24, 013
20,752
22, 610
19, 930
Railway specialties
do
Steel forgings:1
1, 289, 597 81,399,969 1,391,998 1, 393, 137
Orders unfilled, total
do
178, 475
96, 828 » 120,966 149, 642
Shipments, for sale, total
do
130, 515
979,535 107, 966
69, 165
Drop and upset
_ _ _ _
do
8
41, 676
27,663
47,960
41 ,431
Press and open hammer
do
Steel ingots and steel for castings:
1,627
9,808
9,063
8,500
Production
thous. of short tons
102
92
107
18
Percent of capacity J
Prices, wholesale:
.0476
.0498
.0498
.0498
Composite, finished steel
dol. per lb__
Steel billets, rerolling (producing point)
59.00
59.00
56.00
59.00
dol. per short ton_.
.0420
.0420
.0420
.0400
Structural steel (producing point)
dol. per lb_.
Steel scrap, heavy melting (Pittsburgh)
44.00
44.00
44.00
44.00
dol. per long ton__
1,398,863 1, 207, 058 1, 206, 550 1, 199, 151 1,197,291 1, 081, 838 1, 239, 057 1, 135, 343
200, 152
180, 538
196, 441
183, 545 183, 709
155, 630
191, 189
185, 323
147, 701
133, 851
135, 682
137, 221
112, 622
140, 510
132, 580
134, 686
52, 451
46, 687
48, 027
46, 324
55, 931
43, 008
52, 743
56 503
9,440
106
9,691
106
.0498
9,898
99
8,933
99
10,168
102
.0498
.0498
.0498
.0498
.0498
.0501
59.00
.0420
59.00
.0420
59.00
.0420
59.00
.0420
59.00
.0420
59.00
.0420
3 62. 00
3.0413
44.00
44.00
44.00
44.00
44.00
44.00
39.50
9,546
99
9,997
100
9,404
97
9,276
93
.0513
.0524
369.00 p 3 172. 00
.0413 T> 3. 0438
3
40.50
v 44. 50
Steel, Manufactured Products
Barrels and drums, steel, heavy types:
4,949
5,733
6,133
4,884
5,396
6,502
5,052
5, 174
4,878
Orders, unfilled, end of month
thousands-4,804
4,393
4 459
3 901
1,964
2,277
2,188
1,670
1,892
1,629
2,046
1,981
1,798
Shipments
do
2 068
2 054
2 086
1 975
34
62
36
41
25
63
48
28
68
Stocks, end of month...
do
90
81
90
117
r
2
3
Revised.
» Preliminary.
1 See note marked" cf" for this page.
See note marked "T' for this page.
Data beginning May 1953 represent quotations for a substituted series.
©Data beginning 1951 have been adjusted in accordance with the revised export schedule to exclude exports of tinplated circles, strips, etc.
§ Data beginning January 1951 are estimated totals derived from a survey of approximately 1,300 establishments by the Bureau of Mines and the Bureau of the Census.
cfBeginning January 1953, new weighting factors have been introduced and delivered prices eliminated. Quotations comparable with earlier prices may be derived by adding $1.58 (plus a
very small adjustment for any freight-rate increases) to the stated prices.
JData beginning August 1952 are estimated industry totals based on reports from producers whose shipments in 1947 accounted for 98 percent of total shipments; unfilled orders are for
commercial forgings only, i. e., exclude forgings for own use. Data for May 1951-July 1952 are as reported by producers whose shipments averaged 50 tons or more per month; unfilled orders
for this period include captive shipments. Figures for January 1951-July 1952 revised to represent estimated industry totals will be shown later.
J For 1953, percent of capacity is calculated on annual capacity as of January 1,1953, of 117,547,470 tons of steel; 1952 data are based on capacity as of January 1,1952, of 108,587,670 tons.
SURVEY OF CURRENT BUSINESS
September 1953
Unless otherwise stated, statistics through
1950 and descriptive notes are shown in the
1951 Statistical Supplement to the Survey
S-33
1953
1952
July
August
September
October
November
December
January
February
March
April
May
June
July
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— All grades
_
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
423, 894
293, 370
130, 524
388, 040
1,011
28,531
465, 820
348, 906
116, 914
421, 221
1,126
29, 462
460, 155
348, 500
111, 655
405, 368
1,146
33,060
355,318
240, 136
115,182
306, 570
1,229
33, 467
245, 036
152, 116
92, 920
208, 128
992
24, 875
256, 739
158, 612
98, 127
219, 682
1,138
27, 002
1,414
130
35
120
152
107
3
425
59
35
29
125
108
6,312
744
188
306
717
680
121
1,567
127
155
428
479
416
6,542
787
181
352
797
649
148
1,639
156
192
386
412
447
7,156
846
197
377
861
709
156
1,819
189
207
412
435
497
6,648
828
153
350
783
679
145
1,714
166
194
416
388
443
85, 175
305, 987
76, 882
307, 644
77, 312
374, 602
74, 639
296, 613
t269, 597
r
r
167, 764
101, 833
227, 068
1,186
26, 616
252, 084
151, 200
100, 884
215, 587
1,138
24, 696
279, 372
161, 854
117, 518
238, 914
1,296
27, 627
304, 201
174, 879
129, 322
255, 358
1,338
27, 772
7,105
865
211
395
857
720
153
1,843
179
196
422
373
454
7,068
853
146
358
832
714
166
1,851
190
203
418
433
458
6, 533
779
156
335
804
659
148
1,695
167
183
395
373
435
7,437
894
173
415
902
707
168
1,982
205
210
416
448
471
7, 162
838
155
357
880
650
150
2,007
194
206
414
442
447
7,209
873
159
352
828
698
161
2,003
187
214
417
459
449
6,950
843
157
329
847
614
162
1,924
190
210
397
441
426
83, 419
334, 147
89, 895
299, 415
92, 649
283, 599
104, 460
350, 094
102, 071
355, 895
105, 464
345, 619
104, 152
427, 849
109, 285
304, 743
177, 976
126, 767
259, 360
1,307
29, 317
357, 201
220, 481
136, 720
311, 009
1,340
31, 605
NONFERROUS METALS AND PRODUCTS
Aluminum:
78, 368
Production, primary
short tons
318, 763
Imports bauxite
long tons
Price, wholesale, scrap castings (N. Y.)
.0708
dol. per lb_.
Aluminum fabricated products, shipments,
184.0
total d"O
mil. of Ib
35.3
Castings©
do
148.8
Wrought products, total cf
-do ___
86.1
Plate, sheet, and strip
do
.402
Brass sheets, wholesale price, mill
dol. per lb__
Copper:
Production:
Mine production, recoverable copper
76, 284
short tons_.
Crude (mine or smelter, including custom in81, 601
take)
short tons
96, 049
Refined
do
115, 390
Deliveries, refined, domestic. .
do
73, 657
Stocks, refined, end of month
do
15, 435
Exports, refined and manufactured
do
66,
380
Imports total
do
38, 938
Unrefined, including scrap
do
27,
442
Refined
do
.2420
Price, wholesale, electrolytic (N. Y.)--dol. per lb_.
Lead:
Ore (lead content) :
29, 862
Mine production
short tons
28, 829
Receipts by smelters, domestic ore
do
Refined (primary refineries) :
37, 489
Production
__
do_ __
49, 705
Shipments (domestic).
.
do
44, 140
Stocks, end of month.
do
Price, wholesale, pig, desilverized (N. Y.)
.1600
dol. per lb_Imports, total, except mfrs. (lead content)
short tons. . 33, 085
Tin:
2169
Production, pig§
long tons
3,647
Consumption, pig, total§
do
1,719
Primarv§
do
31, 444
Stocks, pig, end of month, total§
do
21, 128
Government§
do
10, 316
Industrial!
do
Imports:
5,481
Ore (tin content)
do
6,619
Bars blocks, pigs, etc
do
1. 2150
Price, wholesale, Straits (N. Y.)
dol. per lb__
Zinc:
Mine production of recoverable zinc
50,642
short tons._
Slab zinc:
76, 930
Production. _
..
do
43, 353
Shipments, total
do
38, 714
Domestic
do
96, 919
Stocks, end of month. . _ _
do
Price, wholesale, prime Western (St. Louis)
.1500
dol.. per Re79,315
imports, total (zinc content)
short tons
832
For smelting, refining, and export
do
For domestic consumption:
62,578
Ore (zinc content)
do
15, 905
Blocks, pigs, etc..
.
do
.0740
.0750
.0750
.0750
. 0750
.0750
.0825
.0995
.0924
.0838
.0936
.1000
198.8
39.2
159.6
92.2
.402
* 211. 2
145.4
165.7
95.8
.402
235.5
51.6
183.9
107.6
.402
212. 1
46.5
165.6
98.2
.402
232.0
53.3
178.7
103.7
.402
243.6
55.6
187.9
110.7
.402
240.7
54.9
185.7
109.2
.402
273.7
59.4
214.3
127.1
.429
281.0
61.6
219.4
129.2
.429
266.7
57.6
209.1
123.6
.429
262.0
57.3
r
205. 0
' 121. 3
.429
202.3
123.4
*>.429
72, 367
80, 807
79, 621
80, 829
83, 653
101, 825
101, 538
112, 016
117, 204 ' 133, 462
60, 944
55, 807
6,030
8,645
62, 476
52, 397
33, 320
20, 496
29, 156
31, 901
.2929
.2497
95, 890
112, 660
142, 282
48, 382
6,551
71, 110
39, 573
31, 537
.2990
93, 197
117, 929
146, 215
52, 762
8,669
67, 098
32, 132
34,966
.2968
T
84, 948
124, 480
139, 520
58, 126
7,278
81,341
40,391
40,950
.2969
88, 984
112, 570
104, 593
77, 100
74, 166
74, 907
79, 207
75, 730
77, 907
77, 594
79, 368
95, 366
127, 910
83, 771
14, 604
61, 122
21, 366
39, 756
.2420
82, 426
98, 930
135, 486
71, 456
20, 945
67, 817
25, 605
42, 212
.2420
84, 824
105, 770
138, 759
59, 760
18, 226
59, 910
21, 028
38, 882
.2420
80, 436
100, 075
125, 338
69, 237
13, 016
59, 230
24, 016
35, 214
.2420
85, 239
113, 965
143, 088
58, 858
16, 257
70, 300
24, 531
45, 769
.2420
81, 625
108, 010
125, 133
59, 836
8,079
50, 138
23, 589
26, 549
.2420
30, 232
32, 393
30, 386
32, 919
33, 523
33, 770
29, 160
30, 537
29, 542
32, 769
30, 660
30, 697
29, 458
30, 388
30, 715
32, 660
31, 137
31, 557
'29,051
28, 793
«• 28, 472
30,753
26,531
27,339
41, 836
41, 269
39, 767
42, 791
45, 818
31, 837
51, 521
40, 970
37, 718
49, 806
48, 261
35, 686
48, 651
39, 370
43, 560
47, 295
35, 529
52, 760
45, 423
36, 811
5.8, 949
47, 993
42, 242
62, 371
46, 729
39, 487
69, 608
43, 187
48, 914
63, 879
36,880
44, 140
56, 569
40,210
35, 652
61, 017
.1368
r 73, 646
75, 784
.2969
.1600
.1600
.1440
.1416
.1413
.1419
.1350
.1340
.1268
.1275
.1341
40, 202
47, 190
59, 392
41, 305
85, 133
47, 999
42, 102
36, 410
42, 810
43, 612
45, 918
2289
6,347
4,198
25, 353
16, 511
8,842
2,686
6,399
4,200
25. 314
15, 534
9,780
3,612
7,261
4,709
24, 840
14, 266
] 0,574
4,210
6,636
4,311
24, 321
13, 659
10, 662
4,027
6,965
4,499
25, 993
13, 265
12, 728
4, 250
7,410
4,809
22, 504
10, 589
11,915
3,592
7,012
4,441
19, 433
8,003
11, 430
4,071
7,788
5,162
17, 629
5,206
12, 423
3,968
7,680
5,192
16, 029
4,402
11, 627
3,286
7,562
4,985
13, 592
2,135
11, 457
3,245
7,508
4,989
13, 391
1,935
11, 456
2,378
8,711
1. 2150
1,136
7, 586
1. 2138
4,869
6,883
1. 2123
2,177
5,860
1. 2127
3,277
7,180
1. 2147
3,862
7,728
1. 2150
4,101
5,251
1.2150
4,573
6,686
1. 2140
1,915
7,229
1.0111
2,017
6,739
.9746
4,230
5,495
.9295
49, 482
48, 748
53, 346
48, 899
49, 789
54, 035
49, 506
51, 803
51, 335
47, 940
' 46, 413
42, 473
78, 167
78, 435
72, 963
96, 651
76, 019
78, 129
69, 343
94, 541
80, 588
79, 787
71, 659
95, 342
78, 563
90, 756
81, 439
83, 149
81, 363
77, 352
71, 175
87, 160
81,994
80, 679
77, 573
88, 475
76, 899
71, 710
67, 729
93, 664
83, 485
77, 285
72, 388
99, 864
80, 459
86, 043
78, 211
94, 280
82, 422
84, 250
75, 648
92, 452
81, 617
76, 784
72, 612
97, 285
80, 825
74,204
69, 498
103, 906
.1406
9,470
1,164
.1398
14, 976
1,371
.1330
21, 322
2,939
.1250
23, 235
2,555
.1250
27, 232
1,532
.1259
27, 586
834
.1148
27, 475
984
.1103
54, 642
4,734
.1100
51, 609
473
.1100
75, 808
338
.1100
102, 632
143
.1100
4,088
4,218
4,454
9,151
6,105
12,278
7,027
13, 653
3,686
22, 014
6,809
19, 943
7,837
18, 654
28, 020
21,888
26, 601
24,535
47, 708
27, 762
64, 206
38,283
17, 285
79, 487
24,037
73,627
29,455
63,833
33,552
55, 159
23, 088
51, 470
14,088
54, 618
11, 522
60, 568
12, 955
65, 219
10, 990
73, 761
9,286
83,423
12,831
89, 479
2,915
7,676
3,974
6,507
r
.8163
HEATING APPARATUS, EXCEPT
ELECTRIC
oilers, 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
r
4,962
4,729
«• 2, 590
2,621
2,634
1,821
2,435
1,740
3,814
4,028
3,859
3,422
4,199
5,032
4,044
5,310
4,625
6,745
2
Revised.
» Preliminary.
1 See note marked "0" for this page.
Production by detinners only.
cf See note in June 1951 SURVEY regarding additional reporting companies beginning February 1951. ©Data beginning September 1952 are estimated industry totals based on reports
from a revised sample of 550 establishments; monthly data for January 1951-August 1952 have been revised to bring the estimates closer to the September 1952 shipments based on the new
sample.
§ Substituted series. Compiled by the U. S. Department of Interior, Bureau of Mines; monthly data beginning January 1951 are available upon request. Government stocks represent those available for industrial use.
r
SURVEY OF CURRENT BUSINESS
S-34
Unless otherwise stated, statistics through
1950 and descriptive notes are shown in the
1951 Statistical Supplement to the Survey
September 1953
1953
1952
July
August
September
October
November
December
January
February
March
April
May
June
July
METALS AND MANUFACTURES—Continued
HEATING APPARATUS—Continued
Boilers, range, shipments
_
number
Oil burners:
Orders, unfilled, end of month
„
do
Shipments
do
Stocks, end of month
do
Stoves and ranges, domestic cooking, excl. electric:
Shipments total
number
Coal and wood
do
Gas (incl bungalow and combination) do
Kerosene, gasoline, and fuel oil
do
Stoves domestic heating shipments total do
Coal and wood
do
Gas
do
Kerosene, gasoline, and fuel oil
. do
Warm-air furnaces (forced-air and gravity air-flow),
shipments total
number
Gas
do
Oil
do
Solid fuel
do
Water heaters nonelectric shipments
do
MACHINERY AND APPARATUS
Blowers, fans, and unit heaters, quarterly:
Blowers and fans, new orders
thous. of dol
Unit heater group new orders
do
Foundry equipment (new), new orders,
net .._
1937-39 =100_
Furnaces, industrial, new orders:
Electric
thous. of dol
Fuel-fired (except for hot rolling steel)
do
Machine tools:
New orders
1945-47=100.
Shipments
do
Mechanical stokers, sales:
Classes 1, 2, and 3
..
number
Classes 4 and 5:
Number
Horsepower
Pumps, steam, power, centrifugal and rotary, new
orders
thous. of dol
ELECTRICAL EQUIPMENT
Batteries (automotive replacement only), shipmentsf
thousands
Domestic electrical appliances, sales billed:
Refrigerators index
1936—100
Vacuum cleaners, standard type
number. .
WashersO
do
Radio sets, production*
_ _ _
do
Television sets (incl. combination), production*
number. .
Insulating materials and related products:
Insulating materials sales billed, index 1 1936=100
Fiber products:
Laminated fiber products, shipments!
thous. of dol. .
Vulcanized fiber:
Consumption of fiber paper
thous. of Ib
Shipments of vulcanized products
thous. of dol
Steel conduit (rigid) and fittings, shipments 9
short tons
Motors and generators, quarterly:
New orders index
1936—100
New orders
thous of dol
Billings
"
do
Direct current motors and generators, 1-200 hp:<f
New orders
thous of dol
Billings
do
20,010
21, 197
21, 979
20, 797
18,859
20,200
26,768
24,737
29,828
29,873
25, 667
64,737
67,044
61, 577
63, 805
84,020
50,593
66, 080
104 098
42,993
57, 874
119 370
36, 076
42, 595
72 854
39, 324
37, 505
53, 243
46, 758
37, 658
49, 026
49,915
43, 469
45, 345
58, 324
38, 986
56, 336
67,262
48, 960
53, 904
78, 784
53, 657
64,173
86, 387
170, 146
7,080
154, 907
8,159
198, 604
8,820
180 346
9,438
221
9
200
11
468
037
946
485
264 196
9,905
241 138
13, 153
204 336
7,793
187 370
9,173
195, 052
8,088
177, 463
9,501
187 745
8,723
170 675
8,347
205, 872
8,089
187, 702
10, 081
228, 602
8,125
210, 048
10,429
238, 851
7,420
220, 939
10, 492
197, 483
5,075
181, 682
10, 726
393, 834
79, 027
197, 680
117, 127
515, 356
132, 211
236, 849
146, 296
565
158
241
165
508
564
419
525
659 965
179, 921
304 169
175, 875
369 238
118,544
170 365
80, 329
189, 009
33, 786
111, 254
43, 969
145 700
12, 061
57, 487
76, 152
124, 334
11, 735
60,568
52, 031
147, 598
17, 218
78, 544
51, 836
137, 623
20, 782
72, 366
44, 475
154, 965
25, 503
78, 136
51, 326
78, 266
38, 738
30, 950
8,578
157, 595
105, 410
51, 289
40,654
13, 467
187, 949
116 300
54' 368
46, 419
15 513
202 432
126 754
59,071
51, 331
16, 352
218 582
89 708
44 947
35, 227
9 534
195 385
64, 102
33, 128
26, 140
4,834
199, 972
57 778
31, 426
22, 101
4 251
207, 290
55,368
29, 815
21, 662
3,891
210, 379
64, 115
32, 748
27, 353
4,014
229, 232
67, 543
37, 260
26, 812
3,471
228, 731
70, 814
37, 755
28, 297
4,762
200, 714
50,790
14,943
' 41, 857
12,223
33, 117
16, 625
33,223
14 545
343.9
311.6
365.9
335.8
258.1
343.3
301.0
257.3
396.7
303.0
294.4
446.8
440.8
2,530
6,703
1,626
5,259
1 412
2,472
2,459
1,520
1,241
2,396
1,634
3,235
1,655
3,540
1,672
3,996
1,301
3,607
1,796
3,017
1,799
2,609
2,095
2,550
2 246
2,017
376.3
259.7
311.1
317.0
302.4
368.3
243.3
357.8
205.4
342.5
225.2
355.0
255.8
361.6
282.1
354.5
327.0
375.9
276.8
372.7
246.4
»• 356. 0
'273.4
••342.2
1,668
2,702
3,220
3,126
1,855
1,274
1,073
763
816
985
880
249
47, 981
172
31,079
185
37, 796
158
31,366
116
21, 191
98
28, 199
88
38, 234
81
21, 851
63
20,142
107
39,388
121
29, 721
6,299
5,921
5,258
5,534
4,130
6,575
5,752
6,521
8,255
7,758
4,629
2,526
2,905
2 874
3,112
2,168
1,975
1,571
1,162
1,202
1,245
1,462
2,002
2 533
197
188, 715
209, 901
494, 866
148
136
222, 413 237,541
259, 280
287, 919
607, 402 i 970, 109
122
292, 474
335, 616
870, 338
188
147
211
208
152
183
329, 294 268, 548
249,032 255, 886 246,007
197,506
252, 404
254, 297
353, 972
317, 914
313, 005
295, 393
294, 960
282, 453 333, 601
298, 641
1,037,864 21,498,258 1,093,142 1, 192, 439 U,549,203 1, 158, 936 1, 108, 991 '1, 163,831
159, 446
233 191
674, 459
198,921
397, 769 i 755, 665
724,117
780, 486 2 921, 086
719, 234
730, 597
i 810, 112
567,878
643
649
694
694
470
451
531
599
579
655
7,597
6,718
8,223
9,110
8,956
10, 196
10, 427
10,609
11, 072
11, 322
2,179
3,038
3,759
4,160
3,658
4,198
4,466
4,360
4,843
4,701
481, 936
v 246. 8
TO 267. 7
5,690
r
1
524, 479
316, 289
10, 268
10,299
8,872
4,452
4,033
1,645
1,027
1,210
1,380
1,694
1,463
1,671
1,725
1,791
1,895
1,882
1,999
6,824
16,225
25 456
21, 171
?0 213
25, 780
21, 946
23,188
26, 058
22,182
22,206
463
490
487
36, 946
35 210
36, 954
36, 541
41, 127
39,639
46, 319
45 863
9,269
7 905
8,807
10, 152
7,512
8,858
8,821
10 064
PETROLEUM, COAL, AND PRODUCTS
COAL
Anthracite:
2,484
3,130
2,626
2,365
2,284
1,987
2,783
'2,886
3,354
Production
thous. of short tons. 2,663
3,705
4,150
2,475
Stocks in producers' storage yards, end of month
1,674
1,668
1,635
1,608
1,447
1,623
1,611
1,654
1,420
1,314
1,300
1,479
thous. of short tons.1,726
91
233
166
149
180
140
271
465
Exports
_ _ __
_.do
423
498
323
496
Prices, chestnut:
24.69
22.38
22.54
22.92
23.77
24.00
Retail composite!
dol per short ton
14. 619
13. 869
16. 013
16. 013
16. 013
14. 619 ' 14. 944 * 15. 317
16. 013
14. 119
14. 219
14. 681
14. 681
Wholesale f o b . car at minef
do
Bituminous:
39,
445
37,025
25,
782
34,
171
42,
723
34,265
36,250
39, 115
32, 744
41, 060
Production
thous. of short tons
46, 885
37, 255
34, 870
Industrial consumption and retail deliveries, total
41,
278
41,
424
37,
006
37, 596
34, 368
31, 954 •• 31,545
thous. of shor.t tons__
23, 510
32, 635
38, 864
36, 967
34, 503
32, 491
33,428
33, 982
30, 113
29, 230 ' 28,704
20, 291
31,911
31, 840
30, 051
Industrial consumption, total
do
27, 423
28, 327
31, 928
29, 28 '•»
665
759
712
556
792
125
509
840
615
377
847
Beehive coke ovens
do
'767
8,899
8,923
8,067
3,293
8,259
8,641
8,447
8,956
8,583
8,993
8,725
8,230
9>Oven-coke plants
do
764
603
786
725
687
709
679
699
664
692
681
668
Cement mills
do
6" *
10, 388
9,604
10, 170
8,877
7,597
8,494
9,582
9,123
8,250
8,618
8,293
8,758
9,2*
Electric-power utilities
do
2,342
3,046
2,833
2,448
2,852
3,128
3,031
2,560
2,334
2,722
2,413
Railways (class I)
_ __do
2,168
2,19x
698
229
679
653
617
625
538
559
474
532
623
454
449
Steel and rolling mills
do
6,102
9,500
8,895
8,705
6, 919
8,746
9,300
6,602
9,027
7,597
8,422
Other industrial
do
7,164
6,985
5, 056
7,296
3,219
6,176
6,936
7,996
5,212
6,893
5,756
2,724
4,317
2,841
Retail deli veries__
do
3.202
p
1
2
Revised.
*> Preliminary.
Represents 5 weeks' production.
Represents 6 weeks' production.
fRevised series. For revised batteries data beginning 1947, see note at bottom of p. S-35 of the July 1952 SURVEY. Retail prices of coal are weighted averages for large cities. Wholesale
prices supersede former quotations on tracks, destination. Revised price data prior to 1951 will be shown later.
GFigures through 1951 are estimated industry totals; thereafter, data cover reporting companies only (representing about 97 percent of total industry).
*New series. See note marked
"*" on p. S-35. ^Beginning May 1952, the index includes varnished tubing and saturated sleeving. §Data for 1952 cover 14 companies; beginning January 1953, 17 companies. ?Data
beginning January 1952 cover 9 companies. c"The number of companies reporting is as follows: Polyphase induction, 34; direct current, 28.
SUKVEY OF CURRENT BUSINESS
September 1953
S-35
1952
Unless otherwise stated, statistics through
1950 and descriptive notes are shown in the
1951 Statistical Supplement to the Survey
July
August
September
1953
October
November
December
January
February
March
April
May
June
July
PETROLEUM, COAL, AND PRODUCTS—Continued
COA 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
Oven-coke plants
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:
Retail composite t
dol per short ton
Wholesale:
Mine run, f. o. b. car at minef
-do ..
Prepared sizes, f. o. b. car at minet
do
COKE
Production:
Beehive§
thous. of short tons
Oven (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_.
79
76
75
77
76
38
11
9
9
73
79
72
79, 359
77, 698
16, 136
1,456
35, 895
3,560
1,195
19, 456
1,661
81, 238
79, 567
16, 066
1,616
36, 797
3,443
1,158
20, 487
1,671
83, 298
81,492
15, 728
1,746
37, 722
3,487
1,236
21, 573
1,806
77, 951
76, 369
14, 437
1,624
36, 393
3,041
1,156
19, 718
1,582
75, 970
74,2)2
13, 637
1,607
36 195
2,897
1,085
18, 791
1, 758
76, 745
75, 036
14 430
1,540
35 891
3,032
1 089
19, 054
1 709
73, 346
71, 857
13, 400
1, 362
34, 771
2,973
983
18, 368
1,489
71, 385
70, 110
13, 381
1,245
33, 906
2,892
943
17, 743
1,275
70, 235
69, 187
13, 276
1,106
33, 926
2.764
940
17, 175
1,048
70, 531
69 473
13 408
1 057
34 649
2, 571
922
16,866
1 058
72, 912
71,660
13, 897
1,106
35, 880
2,571
935
17, 271
1,252
76, 026
74, 475
14, 545
1,226
36, 955
2,774
961
18, 014
1, 551
4,014
4,288
3 760
3 010
2 981
2 357
2 207
1 584
1 575
3 150
3,437
3,516
16.13
16 22
16 28
16 54
16 66
16 72
5.640
6.487
5.640
6.544
5.655
6.680
6.016
6.951
6.028
7.020
6. 032
7. 064
5.931
7.076
5.923
7.058
5.857
6.853
5.831
6.446
5.810
6.428
>• 5. 796
«• 6. 491
P5.796
v 6. 570
77
2,305
306
248
5,787
317
391
5,784
323
328
6,117
314
356
5,961
311
427
6,264
329
483
6,284
337
451
5,681
324
536
6,299
334
507
6,032
341
539
' 6, 282
370
'486
' 6, 127
350
419
6,340
3,297
2,479
819
103
53
3,142
2,294
848
98
44
2,838
2,132
706
97
52
2, 541
1,957
583
87
41
2,445
1,920
524
96
62
2,177
1 736
441
103
54
2,075
1,672
402
111
51
1, 995
1,641
354
130
43
1,973
1,581
392
140
39
2 009
1 541
467
154
52
2,135
1,606
529
190
53
2,129
1,572
'557
155
53
2,221
1,529
692
14.750
14. 750
14. 750
14. 750
14. 750
14. 750
14. 750
14. 750
14. 750
14. 750
14. 750
14. 750
14.750
2,139
188, 868
96
214, 729
1,935
192, 798
99
220 661
1,677
195, 528
98
210, 510
1,790
202, 044
96
213, 358
1,773
194,611
98
211, 456
1,690
205,645
97
215 504
1,957
203, 214
96
218, 288
1,828
183, 736
94
195 133
1,807
202, 458
94
217 073
2 059
193, 389
91
203 425
r
2, 809
198, 086
93
217, 074
1,973
197, 837
94
212, 433
275, 951
70, 352
187, 341
18, 258
264, 368
67, 497
178, 394
18, 477
264, 723
65, 241
181, 580
17, 902
269, 776
66, 084
1 85, 900
17, 792
267, 852
63, 777
185, 625
18, 450
271, 928
66, 275
187, 852
17,801
272, 250
65, 902
188, 480
17, 868
273 589
66, 451
189 163
17, 975
275 665
69, 077
188 897
17, 691
280 487
71, 181
191 494
17,812
280, 308
71, Oil
191, 556
17, 741
283, 715
73, 527
191, 879
18, 309
1,876
17, 497
2.570
1,966
18, 124
2.570
1,664
18, 306
2.570
1, 526
20, 074
2.570
1,805
16, 788
2.570
2,991
20, 141
2.570
2,211
18, 500
2.570
2,011
16, 292
2.570
2,171
20, 221
2.570
2,833
18 516
2.570
1,611
20, 729
2.570
74, 752
73,153
13, 221
1,197
37, 767
2,576
918
17, 474
1,599
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 :cf
Gasoline-bearing in TJ S total
do
At refineries
do
At tank farms and in pipelines
do
On leases
do
Exports
do
Imports
do
Price (Oklahoma-Kansas) at wells. _ _ dol. per bbl. .
Refined petroleum products:
Fuel oil:
Production:
45, 183
45, 735
46, 768
47, 379
45, 053
43, 393
42, 153
45, 310
42 730
46, 933
46, 157
Distillate fuel oil
thous of bbl
37, 321
38, 337
38 984
36, 887
37 120
36 572
40 351
40, 515
35 704
38 822
Residual fuel oil
do
38 931
Domestic demand:
23, 291
39, 347
38 533 rr 28, 574
60, 535
63, 778
52, 552
47, 176
28, 836
26, 221
50, 773
Distillate fuel oil
do
41, 267
37,027
44, 729
60,109
57, 557
48, 531
48, 304
50, 395
42, 094
47, 192
52, 769
Residual fuel oil
- -do
Consumption by type of consumer:
7,162
6,028
4,380
7,702
6,809
7,749
6,087
8,083
8,523
5,380
7,152
Electric-power plantsjdo. ._
2,622
2,618
2,827
1,735
2,516
2,055
2,621
2,439
1,831
1,757
1,884
Railways (class I)
-do
6,975
6,354
6,342
6,117
7,090
6 782
5 924
6 774
7,403
6,680
7 075
Vessels (bunker oil)
do
Stocks, end of month:
1
120, 721
85, 775
99, 582
116,096
117, 252
104, 257
80, 655
67, 167
73, 706
61 349
59, 802
Distillate fuel oil
do.
52, 245
53, 052
48, 706
44, 178
53, 069
56, 200
54, 061
41, 795
39, 572
41,600
45, 910
Residual fuel oil
- .-do
Exports:
2,999
2,135
2 949
3,269
2 942
3 091
3,015
3 673
2,840
2,306
2 592
Distillate fuel oil
do
2,473
1 972
1,724
1 271
1,502
1 367
1 339
1, 194
1,373
1 591
1,583
Residual fuel oil
do
Prices, wholesale:
Distillate (New York Harbor, No. 2 fuel)
dol. per gal. _
.098
.093
.098
.098
.098
.098
.098
.098
.098
.098
.098
.950
.850
.900
.900
.900
Residual (Okla., No. 6 fuel)... -dol. per bbL.
.850
.850
.900
.850
.900
.900
Kerosene:
11, 083
11, 792
13, 434
10,
132
10, 919
10, 825
11, 135
13, 061
11,313
10, 498
11, 620
Production
- thous. of bbl.
r
5,883
5, 603
13, 884
12, 455
17, 066
12, 230
6,014
8 256
12, 092
17, 829
7,156
Domestic demand
- do
27, 387
24, 307
32 199
i 23, 487
33 289
20 335
18, 697
20 468
35 021
Stocks end of month
do
26 842
32, 401
796
857
511
358
325
655
358
500
728
377
525
Exports
- do
Price, wholesale, bulk lots (New York Harbor)
.108
dol. per gal_.
.108
.103
.108
.108
.108
.108
.108
.108
.108
.108
Lubricants:
4,668
4 321
4 507
4 416
4 694
Production
thous of bbl
4 271
3 596
4 940
4 857
4 572
4,210
r
3,224
3,032
Domestic demand
_ _ ._
do _
2,800
2,993
3,343
3, 444
3,625
3,229
2,931
3,433
3,711
9,775
9 869
Stocks refinery end of month
_ _ do
10 801
11 134
11 021
11 224
9 745
10 561
11, 250
10 873
9,620
1,295
1,054
919
1,127
917
938
628
890
1 012
1,070
1,610
Exports©
do_ __
Price, wholesale, bright stock (midcontinent,
.270
.270
.205
.210
.260
.250
.270
f. o. b. Tulsa)
dol. per gal..
.205
.210
.220
.220
' Revised.
» Preliminary.
1 New basis. Comparable data for December 1952 (thous. bbl.): Distillate fuel, 98,895; kerosene, 27,529.
f Revised series. Retail prices are weighted averages for large cities. Wholesale prices supersede former quotations on tracks, destination. Figures prior to 1951 will
§Revisions for 1950 will be shown later.
^Includes stocks of heavy crude in California.
f Revisions for January-July 1951 will be shown later.
O Excludes "special category" exports not shown separately for security reasons.
1,824
21, 559
' 2. 820
P 2. 820
43, 860
37, 151
30, 389
43, 045
6,116
1,938
6,747
6,347
84, 504
43, 801
2,715
1,646
.093
'.950
p . 093
J> 1. 049
9,795
5,467
27, 659
904
.103
P . 103
4 293
3,470
10 611
1 020
.195
P . 225
be published later.
NOTE FOR RADIO, TELEVISION SERIES, P. S-34. *New series. Compiled by the Radio-Electronics-Television Manufacturers Association. Data represent industry totals based
on reports from both members and nonmembcrs of the association. Both private and company brands are included. Radio production comprises home, portable battery, automobile,
and clock models; television sets include combination models. Annual totals for 1924-46 for radios and monthly data for 1947-50 for radio and tele vision sets are shown on p. 20 of the October
1952 SURVEY. Data for September 1952 and March and June 1953 cover 5 weeks; December 1952, 6 weeks; other months, 4 weeks.
SURVEY OF CURKENT BUSINESS
S-36
September 1953
1953
19 52
Unless otherwise stated, statistics through
1950 and descriptive notes are shown in the
1951 Statistical Supplement to the Survey
July
August
September
October
November
December
January
February
March
April
May
June
* 107, 243
i 106, 943
July
PETROLEUM, COAL, AND PRODUCTS—Continued
PETROLEUM AND PRODUCTS—Continued
Refined petroleum products— Continued
Motor fuel:
All types:
104, 873
104, 977
105, 022
107, 427
Production, total
thous. of bbl
Gasoline and naphtha from crude petro92, 564
95, 742
93, 663
93, 373
leum
. thous. of bbl__
19, 605
17, 669
18, 259
18, 248
Natural gasoline and allied products -do
Sales of 1. p. g. for fuel, etc., and trans7, 296
6,574
6,
020
6,
934
fers of cycle products
thous. of bbl
8, 761
9, 759
8, 938
9,186
Used at refineries
_ _ _ _do
105,
307
100,
095
103,
689
102,
954
Domestic demand
do
Stocks, gasoline, end of month:
111,770
108,
708
110,
750
113,698
Finished gasoline, total
do ..
58, 180
57, 180
57, 244
59, 276
At refineries
do
8,292
7, 858
7,842
7,293
Unfinished gasoline
do
8,890
10, 095
8, 925
9,722
Natural gasoline and allied products do
2,
396
2,730
2,203
2,164
Exportsd*
do .
Prices, gasoline:
Wholesale, refinery (Oklahoma, group 3)
.104
.104
.104
.104
dol. per gal_ _
.129
.129
.129
.129
Wholesale, regular grade (N. Y.)*
do
.202
.204
.203
.204
Retail, service stations, 50 cities
do
Aviation gasoline:
6, 552
7,193
6,988
6, 694
Production total
thous. of bbl
6,191
5,417
5,977
5, 325
100-octane and above
... . . . . . d o
7,311
7,865
8, 085
8, 397
Stocks total
do
3,878
4, 751
4,470
4,259
100-octane and above
_ _ . _ ._ -do
Asphalt:
Production
short tons_. 1,383,600 1, 493, 500 1, 475, 100 1, 407, 100
967, 500
755, 800
690, 400
Stocks refinery, end of month _ _
do _. 1. 167, 100
Wax:
92, 680
116, 200
113, 120
105, 000
Production
thous. of Ib
169, 680
158, 480
173, 600
168, 000
Stocks, refinery, end of month
do
Asphalt products, shipments: %
5,434
5,972
6, 765
Asphalt roofing, total
thous. of squares..
6,428
Roll roofing and cap sheet:
1,332
1,077
1, 203
1 438
Smooth-surfaced
do
1,235
1, 394
1, 570
1, 661
Mineral-surfaced
-do
3, 121
3, 375
3 666
3, 5°6
Shingles all types
do
230
146
163
195
Asphalt sidings
-- -- do ._
61,, 432
57, 135
59. 250
67 533
Saturated felts
short tons
1
104,894
106, 432
i 107, 413
i 96, 796
93, 148
19, 396
94, 725
20, 804
2 95. 609
3 20. 617
2 86, 221
3 18, 408
2 93., 963
3 20, 202
2 90, 359
3 19, 543
7, 650
9,317
91,326
9, 097
9, 451
95, 817
9,082
9,292
89, 634
7,685
8,378
86, 458
7,787
8,930
98, 158
7, 973
8,088
102, 044
121,645
63, 809
7,864
8, 584
3,447
127, 792
70, 581
8,236
7, 807
4, 645
141, 746
79. 746
8,772
7, 575
2, 652
149, 069
87, 232
8,804
7,748
2,349
153, 315
89. 513
9,416
8, 268
2,513
.104
.129
.201
.104
.129
.203
.104
.129
.203
.104
.129
.206
6, 977
5, 661
8, 451
4, 536
7, 230
5, 853
9,126
4,761
7,020
6,060
9, 754
5, 241
6, 670
5,815
9,425
4,887
105, 897 i 101, 389
2 96, 091
3 19, 733
2 95, 051 !
3 19, 439
' 7, 113
8, 255
105,918
6 897 !
8 94S i
114 703
148, 924
84, 695
9,108
8,849
3. 239
147, 371
82, 322
9,044
10, 359
2, 185
137 863
78 499 '
8 333
.104
.129
.208
.104
.129
.206
.104
.129
.206
. 104 1
. 129 :
.221 '
7,341
5.942
9,882
5, 168
7,263
6, 065
9, 601
4,910
7,907
6,748
9,828
5,348
r
2 018 :
7
6
9
4
P 0. 114
P . 142
222
811 i
830
163 !
900 1
712,900
852, 500
969. 100 '1, 172.900 1,396,400 •
748, 700
998, 700
707, 300
910,400 1, 149, 300 1,368,200 1, 579, 500 1, 769, 500 1, 904, 200 rl,969,800 1 742 900 i
106 680
156, 520
113 400
161,000
105 840
160, 440
99, 680
150, 360
121 800
118, 400
4,241
2,918
3, 111
2,966
943
1,033
2 265
170
52, 472
670
773
1. 475
123
40 598
721
767
1 623
131
46 292
669
695
1,602
114
43, 423
123 480 :
141, 680 :
118,720
140.840
122 920
142 800
3,800
5,161
5, 390
5, 192
817
886
2 097
105
50 646
1 062
1 078
3 022
120
64 339
1 0^9
1 197
3 164
109
62 520
1 018
1 ins
3 066
98
57 264
:
5 505
:
l
i 210
1 147
3 148
'119
59 738
PULP, PAPER, AND PRINTING
PULPWOOD AND WASTE PAPER
Pulpwood:
Receipts
thous. of cords (128 cu. ft.)_
Consumption
do
Stocks, end of month
_
. do..
Waste paper:
Receipts
short tons
Consumption
_
__do
Stocks end of month
do
WOOD PULP
Production:
Total all grades
thous. of short tons..
D issol ving and special alpha t.
short tons _ _
Sulphate (paper grades) t _
do
Sulphite (paper grades)!-- -do. _ _
Soda
.
do _
Groundwood
do
Defibrated exploded, etc
do
Stocks, own pulp at pulp mills, end of month:
Total all grades
short tons. Sulphate (paper grades) f
._
do
Sulphite (paper grades) t
do
Soda
do
Groundwood
do
Exports, all grades, total
Imports, all grades, total _.
Dissolving and special alpha t
-Sulphate t
Sulphite (paper grades) t
Soda
_
Groundwood
.-
do _
do
do...
-- do _
do
--- do -.
do
2,211
1,910
5,448
2,527
2,209
5, 766
2,355
2,104
6,007
2,255
2 351
5,917
2,150
2,224
5,843
2,247
2 131
5, 926
2,432
2 367
6,006
2,283
2 148
6, 132
2 260
2 405
5 989
I 987
2 375
5' 598
1 875
2 406
5 063
2 259
2 370
4 948
550, 030
561, 067
536,811
631, 070
667, 847
501, 402
693, 247
698, 420
496, 775
786 664
775, 224
510 317
685 279
704, 127
492 249
696 981
666 765
521 737
687 220
708, 058
509 058
647 080
682 469
476 575
742 150
741 071
474 106
76° 156
750' 702
484 184
793 380
732 924
473 084
720 565
739 850
459 606
1,180
55, 839
607, 453
156, 865
26, 953
181, 974
84, 161
1,381
62, 173
728, 421
196, 340
32, 708
194 697
83 646
1,305
60, 401
670, 471
186, 823
32, 320
185 254
84 958
1,461
65, 441
761, 522
205, 110
36 628
204 312
92 331
1,394
59, 762
739, 059
190, 129
35 173
189 874
93 005
1 348
49, 548
700 304
186 072
36 004
197 113
91 021
1,483
58, 871
784 840
205 504
36 875
210 319
93 629
1 356
49, 214
715 468
186 191
34 782
192 325
88 308
1 51°
56, 401
810 905
203 364
37 084
206 012
89 186
1 467
51,686
783 586
20o' 232
33 717
201 951
qq 431
1 518
57, 914
812 940
201 416
35 828
209 324
99 65Q
1 483
63, 469
800 485
188 431
35 639
199 893
98 260
1 352
45, 587
724 651
168* 730
31 325
190 159
97 351
146, 208
35, 867
33, 417
2, 563
36, 722
152, 021
42, 955
32, 252
2,425
31, 983
146, 712
42, 769
32, 722
2,321
26, 681
149, 404
42, 786
31, 489
2,282
22 563
154, 700
43, 809
32, 513
2,641
22 394
154 327
47, 159
29 111
2 403
25 115
164 777
46, 920
35 175
1 861
28 094
158 036
39, 166
32 592
1 936
31 683
165
42
36
2
33
367
186
738
190
052
164 671
41 ' 427
40 609
1 711
34 740
173 0^
41 965
42 354
1 348
37 271
175 179
36 343
42 988
1 497
35 187
154 215
36 725
38 319
1 582
32 525
9,883
122, 636
18, 053
47, 747
40, 689
1,743
13, 851
14,861
138, 616
19, 333
50, 814
46, 837
2,113
18, 846
11,388
160, 423
19, 833
59, 195
50, 536
2,494
27, 773
11, 560
170, 340
25, 579
63, 100
55, 096
2,257
23, 593
11,712
200, 827
23, 787
74, 047
72, 759
2, 298
27, 107
12, 031
222 780
21, 551
84, 287
90 924
2,623
22, 731
13 489
190 211
19, 934
81 119
64 621
2 560
21,302
6 228
169 613
16,415
72 243
57 473
2 427
19, 664
10
167
21
69
55
3
17
449
154
025
186
693
205
278
12 646
175 608
21 523
71 088
62* 430
3 030
16 694
8
191
20
83
61
2
23
11
198
23
84
61
2
25
1,762
869
783
110
2, 059
990
942
126
2,027
969
941
118
2,279
1,080
1,075
124
2,104
992
997
115
2,023
977
936
109
672
660
354
397
564
429
462
885
103
614
371
293
604
572
---.-_
PAPER AND PAPER PRODUCTS
All paper and paperboard mills:
Paper and paperboard production, total
thous. of short tons..
Paper (incl. building paper)
_. _ do ...
Paperboard
.
do
Building board
do
2.205
2,066
2,281
2,265
2,263
2 262
987
1,053
1 077
1 084
1 085
1 066
967
1 032
1 076
1 052
1 056
1 071
112 I
119
128
125
126
125
r
Revised.
r> Preliminary.
1 New basis, representing total gasoline production (comparable figure for December
1952 is 107,581,000 bbl.); comprises total gasoline and naphtha from
2
crude, natural gasoline used at refineries, and natural gasoline sold to jobbers, etc. (not shown separately).
Includes unfinished gasoline production (net); comparable figure for December 1952 is 95,097,000 bbl.
3 Excludes benzol, etc.; comparable figure for December 1952 is 20,769,000 bbl.
cfExcludes "special category" exports not shown separately for security reasons.
*New series. Prices are for bulk lots, f. o. b. refineries. Quotations prior to 1951 will be shown later,
^Revisions for January-March 1952 will be shown later.
fBeginning with the February 1953 SURVEY, data for rayon and special chemical grades of wood pulp produced by the bleached sulphate and bleached sulphite processes have been combined
under the dissolving and special alpha grades. The sulphate and sulphite grades include both bleached and unbleached and represent paper grades only (except sulphate imports for which this
detail is not available). In 1949, production of dissolving and special alpha grades averaged 35,000 tons per month. Data beginning 1950 will be shown later.
SURVEY OF CUKKENT BUSINESS
September 1953
Unless otherwise stated, statistics through
1950 and descriptive notes are shown in the
1951 Statistical Supplement to the Survey
S-37
1952
July
August
September
1953
October
November
December
January
February
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):
Orders, new
_ _ _ short tons _
Orders unfilled, end of month
do
Production
_
do _
Shipments
do
Stocks, end of month
_ __do
Fine paper:
Orders new
do
Orders unfilled, end of month
do
Production
do
Shipments
-do
Stocks, end of month _ _
do _.
Printing paper:
Orders new
do
Orders, unfilled, end of month
- do
Production
do
Shipments
_do.
Stocks, end of month _ „ _ . _
_do. Price, wholesale, book paper, "A" grade, English finish, white, f. o. b. mill*_.dol. per 100 lb_.
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):
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, contract, delivered to principal
ports*
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:
Shipping containers, corrugated and solid fiber,
shipments
mil. sq. ft. surface area..
Folding paper boxes, value :f
Now orders
1947-49= 100. .
Shipments
do
715, 288
768, 806
674, 759
671, 174
384, 550
752, 557
726, 902
775, 723
768, 208
422, 465
807, 132
784 617
756, 433
749 664
427, 350
892,616
817, 556
851, 888
861, 102
418,101
759, 399
765, 444
798, 316
800, 447
420, 669
824, 431
793, 397
800, 190
796, 778
424, 307
886, 474
817, 728
874, 859
862, 142
437, 021
811,295
820, 807
809, 914
803, 669
439, 583
922, 907 ' 856, 801
866, 131 r 853 842
882, 601 r•• 881, 403
869, Oil
877, 582
444, 322 ' 456, 707
877, 000
849 907
883, 000
881 000
458, 450
857, 000
839, 925
851, 000
852, 000
455, 475
83, 848
88, 000
84, 195
81. 323
84, 750
82, 938
57, 150
100, 213
98, 080
93, 850
91 582
56 738
100 268
93, 032
99, 195
107,357
52, 824
111,288
111,547
98, 903
92 300
38, 408
98 393
96, 903
103, 897
92, 205
37, 023
95, 799
93, 590
106, 106
104,433
41,996
104,212
99, 460
110,858
100 915
42, 247
99 778
96, 998
109, 930
114 747 f r111 120
49,915
48, 125
108 326 r 111 896
108, 867 >• 109, 255
109, 109 ' 111, 740
109 000
45,815
117 000
113, 000
115, 450
102, 000
45, 630
104, 000
101,000
117, 500
258,
422,
267,
264,
140,
298 820
465 435
256 921
255 785
141, 915
313, 878
487, 440
293, 743
292, 239
143,419
248, 823
458, 860
277 372
276,152
144, 548
315,082
486, 018
284 647
287, 924
142, 271
305, 091
491,465
305 873
299, 644
147,500
285,911
495,190
282 239
281,305
148, 463
294, 237
339 405
528,013 ' 518, 375
307 094 ' 305, 703
303, 514
306, 583
151, 165
148, 974
304 000
523, 000
303 000
300, 000
154,000
304, 000
520, 600
298, 000
299, 000
153, 500
262, 177
450, 000
238, 014
232, 209
145, 300
666
402
433
517
775
13. 55
13. 55
13. 55
13. 55
13.55
13. 55
13. 55
13. 55
221, 930
143, 000
216, 743
212, 740
99, 000
257, 062
155,270
256, 307
251, 791
130, 250
259, 527
170,090
245 051
244, 705
130 595
294,513
184, 550
273, 935
280, 050
124, 480
263, 053
173, 218
267, 705
274, 385
119,232
259, 890
175, 106
259, 194
258, 302
120 260
291,690
180,285
289, 853
286, 510
123, 600
264,708
178,315
266, 787
266, 678
123 705
296, 149 «• 278, 359
173, 820
182, 329
293 058 r 287, 262
292, 135 ' 286, 865
124 628 ' 125, 025
485, 539
483, 250
144, 094
486, 496
488, 575
142,015
461 508
462 404
141,119
502, 791
486, 159
157,751
463, 435
498. 987
122, 199
463 377
463, 064
122, 512
473 640
467, 627
128,525
439 167
408, 61 0
1 59, 082
484 276
441,512
201, 846
329, 729
94. 192
94, 933
341,571
97, 831
99, 008
379 669
92 301
90 645
425, 981
97 144
97, 789
416,974
89 842
90, 429
386 627
86 659
83, 007
351, 775
93 780
93, 908
346 035
82 892
83 208
8,827
532, 297
75, 474
427, 945
7, 650
573, 502
86, 444
400, 541
9
582,
77
422
306
209
578
887
8 661
561,016
69 364
432, 597
8
527,
97
407,
11
530,
81
452
11
556,
89
391
607
022
767
816
11 2^1
555. 508
93 "5
377' 700
1?2 00
125 25
125 25
195 ?5
195 25
917, 500 1 065 800 1,076 300 1 020 500 1 077 600
388, 400
459 900
453, 000
457, 400
478 400
955, 600
955, 700 1,142,200 1 , 004, 900 1, 029, 100
96
89
96
85
88
971 800
455 100
985, 500
91
119. 50
845, 800
444, 200
773, 700
71
122 00
074
525
206
300
125 25
726
651
258
263
13. 55
' 13. 72
286, 000
168, 800
288 000
291 000
122 000
281, 000
164, 400
288, 000
285, 000
125, 000
480 316
498, 889
183, 273
480 239
467 656
195, 856
463, 193
486, 389
172, 660
491 , 254
494, 212
169, 702
420 956
91 911
94 505
408, 874
8^ 194
89, 004
429 562
92 405
91 168
381. 186
90 727
89, 610
340, 044
88, 121
90, 755
8
518,
85
422
697
985
618
878
7 887
515,063
91 272
436 024
9
483,
69
405
10
484,
76
428,
211
702
270
210
7 577
514,320
81,719
125 25
125 25
125 95
p 125 73
968 700 1 156 300 1 101 800 1 040 100 1 152 100
437 300
539' ooo 459 800 567, 000
567 500
973. 800 1 , 072. 900 1, 071, 200 1,073,400 1, 092, 000
95
93
96
95
95
973 300
522, 500
939, 700
81
13.55
13. 55
1°4
059
684
424
125 °5
13.80
5, 550
6,364
6,780
7,518
6,828
6, 771
6, 363
6, 398
7,292
7,059
6,806
' 7, 012
6,459
147.5
126.4
162.0
145.3
163.0
158.0
174.1
170.8
146. 8
141. 6
147.4
147 4
160.7
148.0
154. 9
138. 4
183. 1
158.6
169. 4
153. 4
162.5
152. 7
174. 6
155.6
162. 6
143.9
601
472
129
904
699
205
949
796
153
1,118
930
188
1, 263
1 034
229
893
709
184
814
629
185
1 031
811
220
1 031
805
226
852
701
151
1 359
1 069
290
993
815
178
736
568
168
45, 231
94 151
48 455
50 707
98 627
56 785
49, 375
108 892
60 578
46 889
113 532
56 126
PRINTING
Book publication, total
New books
New editions
number of editionsdo
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
32, 760
84, 839
50, 468
32, 941
84, 657
67, 139
39, 274
84, 190
51, 465
45, 110
82 861
55 651
41, 749
86, 243
48, 776
44, 790
95 260
78 192
47, 766
97 730
63 767
.315
.305
.275
.270
.290
.300
.295
58, 992
58, 642
152, 373
1,499
59, 214
61,214
150, 254
1,921
58, 352
66, 668
141,837
1 573
62, 553
73 963
133, 042
1 525
60, 540
66, 240
123, 745
1 148
65, 740
71 635
118,987
1 323
69, 482
72 810
117, 875
1 487
16, 213
18, 354
36, 287
17, 131
20, 548
32, 224
21, 732
23 131
31, 430
27, 405
26 830
31, 463
22, 684
22 896
30, 176
25, 606
24 300
30, 664
T) 784
25 356
31,244
7,092
7,141
1,187
5,837
117
11,647
140
6 928
7,983
1, 633
6 218
132
10 637
159
7 387
8 044
2,827
5 075
142
9 963
154
8? 635
7 888
3 200
4 574
114
10 821
95
7 361
5 820
2 665
3 069
86
12 272
85
920
214
916
161
137
14 110
95
238
882
004
794
84
14 118
86
8 236
7 243
3 263
3 895
85
15 295
121
4,782
4, 499
11 223
134
4 860
5 423
10 627
79
5 389
5 981
10 304
104
6 217
5 892
10 386
55
5 115
4 573
10 910
60
5 642
4 863
12 036
48
6 130
7 538
10 169
46
6 498
6 364
IQ 308
49
.260
.272
.244
.250
.245
p. 239
952
221
041
500
85 302
72 234
132, 109
2 299
28 714
26 483
31, 263
26 839
25 213
31,' 763
407
256
570
598
87
16 456
96
9 262
8 913
3 798
5 001
115
16 872
112
8 987
8 942
3' 200
5 604
139
16 973
135
572
279
537
601
142
16 259
137
173
559
616
793
146
14 883
7 470
6 555
11 242
69
7 "44
6 760
12 155
80
6 940
6 586
12 592
80
7 035
6 907
12 811
59
6 395
7 288
12 097
970
888
099
264
81, 408
77 903
116, 089
1 713
24 373
24 098
30, 631
27 699
27 334
30, 280
66
68
114,
1
' 48,224
44, 023
' 112 959 119 028
61 423
82
77
122,
1
80 227
r
71 751
' 143, 789
1 781
r
r
r
26 315
24 637
32,791
79 360
61 382
159, 443
22 879
23 358
31,531
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
.
.
thousands
do
.do
do
..do
do
do
.
.
do
do
do
_ _ _ _ _ _ do
.
-__._.
r
7
6
2
3
8
7
3
4
9
8
3
4
Revised.
* Preliminary.
*New series. Compiled by the U. S. Department of Labor, Bureau of Labor Statistics; monthly data beginning 1947 will be shown later,
tRevised series, reflecting use of new base period; data prior to February 1952 will be shown later.
{Revisions for January-April 1952 are available upon request.
©Excludes "special category" exports not shown separately for security reasons.
§ Includes data for motorcycles.
8
9
3
5
8
9
3
5
SURVEY OF CURRENT BUSINESS
S-38
Unless otherwise stated, statistics through
1950 and descriptive notes are shown in the
1951 Statistical Supplement to the Survey
September 1953
1953
1952
July
August
September
October
November
December
January
February
March
April
May
June
July
STONE, CLAY, AND GLASS PRODUCTS
ABRASIVE PRODUCTS
160, 795
174,449
182, 612
176, 845
164,085
168, 910
184, 754
193, 830
206, 348
178, 323
183, 075
172, 177
21, 342
90
25, 084
15,158
7,548
23,573
99
25,915
12,819
6,262
23,010
99
26, 240
9,584
5,352
24, 181
101
27, 222
6,546
4,360
22, 048
95
19, 771
8,823
4,329
20, 881
87
13, 740
15, 957
5,385
18, 855
79
13, 520
21,294
7,445
17, 325
80
14,155
24,464
8,899
20,215
84
20,813
23,865
9,706
21, 802
94
20, 891
24,773
9,556
23, 399
97
22, 924
25, 247
9,215
22, 698
97
26, 400
21, 545
8,669
24, 134
100
26, 480
19, 196
7,679
548, 179
537, 039
541, 709
518, 443
541, 121
533, 658
557, 001
557, 890
479, 951
446,312
444, 660
388, 269
391, 241
353, 088
377, 166
375, 051
447, 707
439, 031
485, 905
495, 613
499, 936
496, 994
533, 073
544, 733
i 27. 409
27. 409
27. 409
27. 409
27. 409
27. 409
27. 409
27. 410
27. 577
27.789
27. 791
132, 347
143, 049
136, 956
147, 375
145, 352
150, 773
151, 442
160, 969
130, 372
120, 650
135, 639
98, 404
113, 227
94, 920
124, 673
106, 651
143, 156
136, 741
142, 147
135, 874
139, 598
131, 359
145, 562
140, 039
89, 833
84, 066
83, 574
84, 802
81,071
80,295
80, 975
85, 354
71, 635
70, 638
77,123
63, 923
81, 541
63,050
73, 976
68,020
79, 890
74, 735
80, 799
80, 474
78, 329
83, 583
80, 701
85, 114
10,042
9,735
10,700
11,126
10, 100
9,688
10, 704
10, 119
8,837
8,253
8,250
7,889
9,293
8,602
9,000
8,510
10, 680
12,170
10, 291
9,242
11, 002
10, 504
Coated abrasive paper and cloth, shipments. .reams. . 157,412
PORTLAND CEMENT
Production
Percent of capacity _ . _
Shipments
Stocks, finished, end of month
Stocks, clinker, end of month
thous. of bbl
thous. of bbl
do_ _.
do
CLAY PRODUCTS
Brick, unglazed:
Production J
thous of standard brick
Shipments J
do
Price, wholesale, common, composite, f. o. b.
plant f
dol. per thous
Clay sewer pipe, vitrified:!
Production
*
short tons.
Shipments
_
do
Structural tile, unglazed :J
Production
do
Shipments
- _
do..
r
27. 839
v 27. 956
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,
jelly glasses, and fruit jars) _-thous. of gross. Beverage (returnable and nonreturnable)
thous. of gross ..
Beer bottlesdo
Liquor and wine
do
Medicinal and toilet _
do
Chemical, household and industrial
do
Dairy products
do...
Stocks, end of month
do
Other glassware, machine-made:
Tumblers:
Production
thous. of dozens..
Shipments
..
_. do...
Stocks
do
Table, kitchen, and household ware, shipments
thous. of dozens _ _
' 10, 861 10, 586
' 10, 225 9,830
892
1,186
1,464
1,220
722
653
862
825
1,293
1,006
1,284
923
824
2,733
3,210
2,736
2,818
2,200
2,109
2,485
2,403
3,266
2,308
2,909
2,839
2,765
1,073
1,244
905
1,834
788
264
10, 107
783
1,257
1,120
2,313
928
327
9,449
476
768
1,035
2,111
772
327
9,594
666
570
1,380
2,298
859
307
9,854
312
530
1,387
2.096
742
264
10,106
484
714
961
1,927
756
285
10, 167
385
535
911
2,356
808
260
10, 427
497
572
929
2,270
804
212
10, 677
828
883
1,418
3,071
1,102
308
8,970
1,033
967
906
1,869
925
229
9,741
1,149
1,111
1,040
1,984
816
210
9,909
4,966
5,245
8,023
5,833
5,181
8,628
3,816
4,050
8,389
5,696
6,012
8,035
5,191
4, 693
8,431
4,960
4,428
8,911
5,975
5,399
8,724
6,387
5,541
9,566
6,778
5,908
10,230
6,029
5,886
10,582
6,049
5,951
10, 705
5,296
4 800
11, 089
2,945
3,354
3,308
4,374
3,666
3,295
3,652
3,656
3,667
3,549
3,533
2,741
14, 077
12 862
28 540
13 260
11 192
r 30 617
13 100
12 328
r 32 065
-
1,127
••1,317
1,393
1, 181
901
'994
' 1, 879 1,772
794
871
234
221
' 10, 234 10,646
p
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:
Ilncalclned
short tons
Calcined:
For building uses:
Base-coat plasters
do
E^eene's cement
do
All other building plasters
do
Lath
thous of sq ft
Tile
do
Wallboardc?1
do
Industrial plasters
short tons
1,218
2,164
1 846
716
2,033
1,723
444
1,863
1,718
603, 095
610, 738
608, 516
533, 226
13, 337
165, 283
645,548
6,265
902, 174
58 438
424, 371
12, 125
161, 130
570,922
6,507
935, 541
65, 195
411,877
12, 963
168, 692
579, 491
4,730
926,229
66,339
TEXTILE PRODUCTS
CLOTHING
Hosiery:
Production
thous. of dozen pairs
Shipments
do
Stocks end of month
do
11, 794
11, 726
29,843
13, 907
14,470
29,279
14, 104
15, 184
28, 199
15,687
16, 819
27, 067
13, 987
15, 118
25 935
13, 342
12, 949
26 399
14,360
13,555
r 27 217
T
13, 857
13, 724
27, 343
T
14,304
14, 356
27, 317
r
11 452
11 964
31 553
COTTON
Cotton (exclusive of linters):
Production:
176
Ginnings§ _
thous. of running bales. .
5,716
'2 14, 952
1,413
10, 786
13, 420
13,988
14, 715
5 1 166
Crop estimate, equivalent 500-lb. bales
r2
3 15 159
thous. of bales 4
15, 137
Consumption^
bales. . 697, 637 744, 383
736, 248 * 915, 593
759, 737
772, 176 * 905, 071
697, 984 * 893, 806 765, 778
747, 789
741, 929 * 739, 050
Stocks in the United States, end of month,
total^
thous. of bales
2,789
15, 704
13 422
16, 667
12 294
14,503
11 137
10 195
9 195
8 113
5 502
7 109
6 126
5' 409
Domestic cotton, total
_
do .
2,720
16,600
15,646
14, 452
13, 371
12, 238
11 063
10 117
9 111
8 019
7 Oil
6 029
On farms and in transit. .__
do._
4,495
220
13, 991
10, 720
6,550
2,888
1,926
1,393
852
713
601
415
' 259
1,502
Public storage and compresses
do
1,795
3,977
6 644
7,779
7,437
7 442
6 366
6 906
5 491
4 691
4 005
3 706
C onsuming establishments
do
999
814
949
1,439
1,571
1,258
1 695
1,819
1,892
1 817
1 719
1 444
1 609
Foreign cotton, total
...do
69
51
66
58
51
55
74
78
84
97
97
93
94
' Revised.
*> Preliminary.
1 Specification changed; earlier data not strictly comparable. 2 Total ginnings of 1952 crop. 3 September 1 estimate of 1953 crop. « Data cover a 5-week
period.
6 Ginnings to September 1.
{Revised data for 1952 are shown beginning with the August 1953 SURVEY. Revisions for January-July 1951 will be snown later.
{Revised series. Data beginning 1947 will be shown later.
<?Includes laminated board, reported as component board.
§Total ginnings to end of month indicated.
^Data for July and October 1952 and January, April, and July 1953 cover 5-week periods and for other months, 4 weeks; stocks are for end of period covered.
NOTE FOR MILL MARGINS SERIES, P. S-39. The method of compiling average mill margins has been revised to incorporate new constructions, similar to those formerly used
which are no longer being made in quantity, and to substitute "landed" raw cotton prices (Memphis territory growth) for the 10 spot market quotations. Revised data for August 1950 through
1951 will be shown later.
SURVEY OF CURRENT BUSINESS
September 1953
Unless otherwise stated, statistics through
1950 and descriptive notes are shown in the
1951 Statistical Supplement to the Survey
S-39
1953
1952
August
July
September
October
November
December
January
February
March
April
May
June
July
TEXTILE PRODUCTS—Continued
COTTON—Continued
Cotton (exclusive oflinters)— Continued
Exports
bales
Imports
_ _- do
Prices (farm), American upland
cents per lb_.
Prices, wholesale, middling, ^c", average, 10
markets
cents per Ib
Cotton linters:1
Consumption
.. thous. of bales
Production
do
Stocks, end of month
do
48, 116
6,865
37.0
106, 853
7,797
37.9
240, 501
10,909
39.1
296,025
7,735
36.8
337 208
12, 362
34.1
465 966
33,268
31.7
291 829
25,322
29.8
259,247
27,055
30.2
246 467
12, 495
31.5
208,208
33,122
31.5
260 905
15,938
31.7
220 226
11 430
31.5
39.4
39.4
38.9
36.7
34.8
33.1
32.5
32 9
33.2
33 0
33 4
33 2
••179
136
T
533
95
46
528
88
168
578
i 108
1256
706
109
233
837
114
211
901
i 111
i 207
1,047
110
174
1,079
137
152
1,097
1128
1 119
1,126
131
83
1,063
123
66
1,050
54,291
2,532
63, 3ls
1,529
2,325
61,830
3,976
70,866
6,433
67, 119
3 271
2 539
58,627
7 634
54 784
3 647
51,858
2 773
48 627
6 295
55,304
6,887
62,207
6 311
2,606
57 382
4 924
25.39
40.7
17.4
17.0
26.83
40.7
18.4
17.5
29.72
40.7
19.3
17.8
32.55
40.7
19.3
17.8
33.05
40.7
18.3
17.8
34.12
40.7
18.5
17.3
34 40
40.7
18.3
17.1
33 92
40.7
19.3
17.0
32 52
38.8
18.6
17.0
32,01
38.8
18.4
16.9
31.98
38.8
18.4
17.3
32 82
38.2
18.5
18.0
.733
1.022
.742
1.045
.767
1.080
.762
1.082
.745
1.075
.728
1.047
.7Q9
1.018
.702
1.018
.692
1.014
.690
1.002
.679
.995
'.675
'3.984
p . 670
f . 978
21, 325
19, 948
i 9, 112
380
18,501
i 102. 2
21, 398
20,000
9,516
476
8,870
128.1
21, 432
20,041
9,768
501
9,134
135.1
21, 612
20, 215
i 12, 341
499
111,525
i 134. 8
21,583
20,180
9,870
506
9,219
137.0
21,632
20,290
9,183
483
8,637
130.9
21,680
20 314
i 12, 282
501
i 11, 521
i 135. 7
21,622
20 277
10, 179
518
9,561
140.2
21, 575
20 221
10,251
513
9,635
139.5
21,259
19,926
1 12, 353
501
i 11,608
U36.7
21, 377
20,013
10, 133
507
9,489
138.6
21,201
19,824
9,938
497
9,330
136.1
21, 344
20,007
1 10, 126
405
19,484
i 110. 9
mil.nflb
do
83.1
26.9
84.7
28.0
81.0
26.7
75.0
24.1
73.6
26.8
71.2
25.1
76 7
24. 1
70 9
18.5
80 8
21.9
78.3
24.1
81.5
26.6
80.2
27.2
80.8
26.0
.. __ do __
do. .
65.1
15.9
3,995
57.7
15.0
5,960
54.9
15.5
5,010
58.4
17.8
3,872
59.1
15.9
3 687
64.4
17.4
3 691
64.0
18.8
5 503
62.9
16.4
6 260
61.2
16.4
10 892
60.2
22.9
11,201
57.9
26.1
6,069
56.9
'29.8
7 241
57.6
30.9
.780
.400
.780
.400
.780
.400
.780
.400
.780
.400
.780
.366
.780
.366
.780
.366
.780
.366
.780
.366
.780
.336
.780
.336
P . 780
p. 336
31.9
33 4
1
103
i 49
987
COTTON MANUFACTURES
Cotton cloth:
Cotton broad-woven goods over 12 inches hi width,
production quarterly cf mil of linear yards
Exports
thous. of sq. yd
Imports
do
Prices, wholesale:
Mill margins t
cents per Ib
Denim, 28-inch*
_
cents per yd
Print cloth, 39-inch, 68 x 72*
do.
Sheeting, hi gray, 40-inch, 48 x 44-48*
do. _ . _
Cotton yarn, natural stock, on cones or tubes:
Prices, wholesale, f. o. b. mill:*
20/2, carded, weaving...
dol. perlb..
36/2, combed, knitting
_
do
Spindle activity (cotton system spindles) :1
Active spindles, last working day, total. __ thous ..
Consuming 100 percent cotton
do
Spindle hours operated, all fibers, total.mil. of hr_.
Average per working day
__do. _.
Consuming 100 percent cotton
... do
Operations as percent of capacity
r 2 612
32.56
P38.2
P18.3
"18.0
RAYON AND ACETATE AND MFRS.
Filament yarn and staple:
Shipments, domestic, producers':
"Filament, yam
Staple (incl. tow)
Stocks, producers', end of month:
Filament yarn
Staple (incl. tow)
Imports
thons oflh
Prices, wholesale:
Yarn, viscose, 150 denier, filament, f. o. b. shipping point*
dol. per Ib
Staple, viscose, 1^ denier
do
Rayon and acetate broad-woven goods, production,
quarterly^1
thous of linear yards
460,968
r
499,331
516,000
510 000
SILK
Silk, raw:
Imports
thous . of Ib
Price, wholesale, white, Japanese, 20/22 denier,
87% (AA), f. o. b. warehouse 9
dol. per Ib..
967
893
1,363
1,071
716
1,032
901
585
640
573
666
593
5.23
5.43
5.43
5.47
5.43
5.45
5.55
5.56
5.53
5.05
5,12
5.21
31, 675
i 6, 445
31,013
21,900
30, 484
9,220
26,979
18, 936
31, 136
10,920
28,118
17, 786
138,280
1 13, 240
64,994
48, 714
28,480
11,296
20,316
10, 051
26,900
12, 116
29,686
15, 366
i 34 360
i 13, 690
40 894
21, 342
29 564
12, 656
28 487
18, 443
30 000
12, 812
31 569
17,254
1 36, 490
1 14, 320
29,791
19, 489
••31,396
9,736
25,093
14, 956
31,272
10, 308
21, 994
15, 141
1.627
1.122
* 1.660
1.144
21.596
1.120
1.665
1.168
1.725
1.225
1.725
1.225
1.725
1.225
1.725
1.225
1.722
1.185
1.737
1.201
1.752
1.194
2 1. 748
1.199
1.725
1.189
1.425
* 1.425
31.425
a 1.535
21.625
2 1. 675
2 1. 725
2 1. 725
21.750
21.775
»1.775
21.775
1.778
130
1,528
19
163
1,727
20
166
1,811
19
169
1,893
18
165
1,880
18
159
1,935
17
160
1,867
18
169
1,932
17
155
1,875
16
142
1,811
16
133
1,894
15
133
1,921
17
56
27
113
46
134
52
138
54
139
52
144
56
138
47
163
54
164
56
144
51
130
51
121
52
61, 138
68,504
120
73,806
83,377
149
75,293
86, 475
155
74, 918
86,856
154
74, 495
83,067
141
71, 199
81,630
146
69, 128
81, 597
147
74,241
91,448
160
73, 319
92,363
152
68,683
83, 040
150
'73,638
' 86, 815
158
75,902
92,413
158
i 55, 810
17,890
i 40, 935
1 6, 985
56, 788
8,428
38, 140
10,220
59, 492
8,048
38,940
12,504
74, 165
!9, 550
48, 815
1 15, 800
57, 792
7,212
37,280
13,300
55, 312
5,884
35, 492
13, 936
164,560
i 6, 970
i 42, 175
i 15, 415
57, 148
6,488
36,320
14, 340
57,940
7,116
36, 576
14,248
169,235
1
9, 185
i 43, 065
1 16, 985
r
57, 524
7,688
38,080
11, 756
59,572
8 300
38,860
12, 412
2.146
2.164
2.134
2.122
2.122
2.122
2.122
2.110
2.122
2.134
2.146
' 2. 170
»5.21
WOOL
Consumption, mill (clean basis) :J
A.pparel class
thous of Ib
Carpet class
do
Imports olftan oontentA
do
Apparel class (dutiable), clean content*
do
Prices, wholesale, raw, Boston:
Territory, 64s, 70s, 80s, clean basis
dol. per lb__
Bright fleece, 56s-58s, clean basis
dol. per lb_.
Australian, 64s, 70s, good topmaking, clean basis,
in bond
dol. perlb..
1
WOOL MANUFACTURES
Machinery activity (weekly average) fl
Looms:©
Woolen and worsted:
Pile and Jacquard -thous. of active hours
Broad
do
Narrow
do
Carpet and rug:
Broad
_. do
Narrow
, do
Spuming spindles:
Woolen
do
Worsted©
do
Worsted combs
do
Woolen and worsted yarn:
Production, totall©
..thous. oflb
Knitting*!
do
Weaving, except carpet^
do
Carpet and otherf
.__
do
Price, wholesale, worsted knitting yarn, 2/20s60s/56s, Bradford system
dol. per lb..
1
1
r
r
T
f 2. 170
2
' Revised.
f Preliminary.
i Data cover a 5-week period.
Nominal price. 3 Specification changed; not comparable with earlier data.
1 Data for July and October 1952 and January, April, and July 1953 cover 5-week periods and for other months, 4 weeks; stocks and number of active spindles are for end of period covered.
cfBeginnmg 1951, production of broad-woven goods is classified according to principal fiber content; production of fabrics containing 25.0-49.9 percent wool and rayon and cotton fabrics produced on woolen and worsted looms (which cannot be distributed between cotton and rayon goods) amounted to approximately 73 million yards in 1950.
*New series. Wholesale prices are compiled by the U. S. Department of Labor, Bureau of Labor Statistics; monthly data beginning 1947 (except for cotton yarn and sheeting) will be shown
later. Imports of wool are compiled by the U. 8. Department of Commerce, Bureau of the Census; dutiable wool covers essentially the apparel class; data prior to April 1952 will be shown later.
9 Substituted series. Data beginning January 1950 will be shown later.
©Beginning 1951, looms weaving fabrics principally wool by weight.
Almports of unmanufactured wool converted to a clean-content basis; imports were formerly shown in actual weight, i. e., in the condition received.
©See note in August 1951 SURVEY regarding coverage of operations in cotton mills beginning with January 1951 data.
fKevised series. See note at bottom of p. S-38.
SURVEY OF CURRENT BUSINESS
S-40
Unless otherwise stated, statistics through
1950 and descriptive notes are shown in the
1951 Statistical Supplement to the Survey
September 1953
1953
1952
August
July
September
October
November
December
January
February
March
May
April
June
July
TEXTILE PRODUCTS—Continued
WOOL MANUFACTURES—Continued
Woolen and worsted woven goods, except woven
felts :t
Production quarterly total
thous of lin yd
Apparel fabrics total
do
Government orders
- -do
Other than Government orders, total do
Mien's and boys'
do
Women's and children's
do
ITonapparel fabrics, total
do
Blanketing
do
Other nonapparel fabrics
do
Prices, wholesale, suiting, f. o. b. mill:
Flannel, 12-13 oz./yd.,57"/60"*___-1947-49=100_Gabardine, 10#-12# oz./yd., 56"/58"*
do_ —
115.8
107.5
115.8
107.5
111.3
107.2
r
r
95, 779
83, 506
9,923
73, 583
30, 712
42, 871
12, 273
7,200
5,073
87, 933
78, 903
14, 064
64, 839
26 612
38, 227
9,030
4,962
4,088
111.3
107.2
111.3
107.2
112.5
103.9
85 334
72, 691
8,153
r
64, 538
r
33 118
31, 420
r r12, 643
6, 818
5 825
112.5
104.7
91 897
79, 155
4,325
74 830
39 143
35, 687
12, 742
7,161
5 581
113.9
104.7
113.9
105.3
113.9
105.8
113.9
105.3
113.9
105.3
113.9
105.3
TRANSPORTATION EQUIPMENT
AIRCRAFT
Civil aircraft, shipments
Exports t
353
67
349
76
337
57
293
96
268
84
254
97
365
107
382
82
358
81
402
112
417
119
339
104
402
number
do
do
do
do.
do
do
211, 782
224
220
168, 327
161, 862
43, 231
36, 231
270, 982
349
271
218, 577
211, 140
52, 056
45, 204
551, 159
387
330
438, 397
425, 266
112,375
99, 375
604, 261
389
260
471, 808
459, 958
132, 064
116, 449
519, 536
319
244
405, 111
394, 313
114, 106
102, 504
535, 027
231
189
418, 982
406, 156
115,814
103, 648
565, 172
254
218
453, 319
435, 129
111, 599
97, 879
583, 001
190
189
486, 071
467, 440
96, 740
86, 212
700, 685
236
189
566, 320
545, 961
134, 129
122, 043
723, 532
145
141
596, 633
577, 971
126, 754
114, 787
643, 487
367
339
549, 677
531, 544
93, 443
82, 433
661, 992
380
359
587, 549
570, 826
74, 063
66, 063
705, 075
376
368
599, 077
581, 813
105, 622
92, 788
-- do
do
do
22, 784
10, 813
11, 971
14, 049
7,026
7,023
20, 073
10, 564
9,509
22, 005
9,410
12, 595
22, 047
9,015
13, 032
21, 054
9,455
11,599
27, 121
14, 136
12, 985
27, 938
15, 941
11, 997
27, 257
15, 372
11, 885
28,675
16, 704
11, 971
28, 511
16, 455
12, 056
22, 661
14, 397
8,264
3 673
3,369
1,281
2,088
263
4,471
4,108
1,897
2,211
230
4,887
4,552
2,280
2,272
242
5, 465
5,149
2,708
2, 441
260
4,908
4,610
2,464
2,146
250
5,392
5,033
2,560
2,473
248
5,858
5,318
2,588
2,730
223
6,009
5,353
2,586
2,767
286
6,740
6,327
2,823
3,504
311
8,850
8,452
2.990
5,462
334
9,781
9,414
3,166
6,248
327
9,708
9,309
2,778
6, 531
357
340, 454
72, 134
215, 668
57, 786
318, 870
65, 381
383, 385
77, 486
360, 236
70, 431
399, 906
69, 949
386, 221
72, 606
396, 558
68, 616
486, 368
79, 672
528, 278
91, 127
540, 575
86, 366
542, 193
77, 199
533, 783
76, 161
5,658
4,116
3,860
1,542
8
8
8
0
4,674
2,990
2,853
1,684
5
5
5
0
3,935
2,052
1,879
1,883
13
13
13
0
5,592
3,103
2,963
2,489
11
11
11
0
6,098
4,201
4,032
1,897
11
11
11
0
7,968
5,893
5,769
2,075
20
20
20
0
8,103
6,094
5,972
2,009
15
15
15
0
7,789
6,072
6,063
1,717
17
17
17
0
6,725
4,958
4,952
1,767
39
39
39
0
6,870
4,768
4,737
2,102
37
37
37
0
6,969
4,312
3,958
2,657
27
27
27
0
6,918
4,014
3,559
2,904
26
26
26
0
6,817
4,643
4,196
2,174
37
37
37
0
1,763
1,759
1,757
1,755
1,756
1,757
1,759
1,762
1,764
1,765
1,767
1,767
1,769
107
6.1
76, 870
45, 094
31, 776
102
5.8
75, 684
43, 144
32, 540
98
5.6
73,609
42, 171
31, 438
89
5.1
74, 728
41, 381
33, 347
90
5.2
72, 400
40, 355
32, 045
88
5.0
67, 138
35, 803
31, 335
88
5.0
66, 368
36, 550
29, 818
89
5.1
63, 711
34, 891
28, 820
89
5.0
59, 354
32, 732
26, 622
88
5.0
54, 333
30, 141
24, 192
89
5.0
50, 717
29, 351
21, 366
91
5.2
45, 804
26, 880
18, 924
92
5.2
40, 119
22, 908
17, 211
2,131
12.0
2,217
12.7
2,125
12.5
2,015
12.1
1,939
11.9
1,890
11.9
1,851
12.0
1,835
12.1
1,784
12.1
1,656
11.5
1,547
11.1
1,437
10.6
1,315
10.0
1,434
25
1,169
23
1,006
21
1,011
19
894
17
943
15
948
14
1,057
12
843
10
861
8
675
7
564
6
511
5
54
52
43
49
45
51
38
40
47
40
45
39
394
369
25
564
528
36
516
488
28
588
549
39
622
585
37
741
674
67
704
669
35
779
743
36
832
794
38
732
690
42
677
640
37
945
902
43
- -number. _
do
MOTOR VEHICLES
Factory sales, total
Coaches, total
Domestic
Passenger cars, total
Domestic
Trucks, total
Domestic
_
_
_ __ _.
Exports total t
Passenger carst
Trucks and busses J
-
-
Truck trailers production totalcf
Complete trailers
Vans
- All other
Trailer chassis
Registrations:
New passenger cars
New commercial cars
--
-
do
do
do __
do
do
- --
_- do
do
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:
Diesel-electric and electric locomotives, total
number of power units. _
Steam locomotives, total
number
Exports of locomotives total
do
INDUSTRIAL ELECTRIC TRUCKS AND
TRACTORS
Shipments, total
Domestic
Export
.
number. _
do
do
673
591
82
r
Revised.
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).
*New series. Compiled by U. S. Department of Labor, Bureau of Labor Statistics.
More complete specifications are: Flannel suiting—men's and boys', woolen, stock dyed, fine and medium
grade; worsted suiting—women's and children's gabardine. Monthly data beginning 1947 will be shown later.
JData through December 1950 for aircraft and December 1951 for trucks and busses exclude military-type exports not shown separately for security reasons; thereafter the figures including
those for passenger cars, exclude all military-type exports.
cfTotal includes production of converter dollies not included in the detail; prior to January 1952, production of these types was included in the "all other" and "total complete trailers"
categories.
§Not including railroad-owned private refrigerator cars.
IT. S. G O V E R N M E N T P R I N T I N G OFFICE: 1993.
-INDEX TO MONTHLY BUSINESS STATISTICS, Pages S1-S40Pages marked S
Abrasive paper and cloth (coated)
38
Acids
24
Advertising
7,8
Agricultural employment
10
Agricultural loans and foreign trade
15,21,22
Aircraft
11,12,13,14,40
Airline operations
22
Alcohol, denatured and ethyl
24
Alcoholic beverages
2,6,8,27
Aluminum
33
Animal fats, greases, and oils
25
Anthracite
2,5,11,13,14,15,34
Apparel, wearing
3,4,5,6,8,9,11,12,14,15,38
Asphalt and asphalt products
36
Automobiles_____ 2,3,7,8,9,11,12,13,14,16,18, 21
Balance of payments
20
Banking
15,16
Barley
28
Barrels and drums
32
Battery shipments
34
Beef and veal
29
Beverages
2,3,4,6,8,11,12,14,27
Bituminous coal
2,5,11,13,14,15,34,35
Blast furnaces, steel works, etc
11,12,13,14
Blowers and fans
34
Boilers
33, 34
Bonds, issues, prices, sales, yields
19
Book publication
37
Brass
33
Brick
.
38
Brokers' loans and balances
16,19
Building costs
7
Building and construction materials
7,8,9
Business sales and inventories
3
Businesses operating and business turn-over __
4
Butter
27
Cans, metal
33
Carloadings
22,23
Cattle and calves
29
Cement and concrete products
2,6,38
Cereals and bakery products
5,11,12,14
Chain-store sales (11 stores and over, only)
9
Cheese
27
Chemicals
2,3,4, 5,12,14,15,18,'21, 24
Cigars and cigarettes
6,30
Civilian employees, Federal
12
Clay products (see also Stone, clay, etc.)
2, 6,38
Clothing (see also Apparel)
5,38
Coal
2,5,11,13,14,15,21,22,23,34,35
Cocoa
22,29
Coffee
__
__
_
22,29
Coke
2,22,23,35
Commercial and industrial failures
4
Communications
11,13,14,15,18,19, 20, 23
Confectionery, sales
29
Construction:
Contracts awarded
6
Costs
7
Dwelling units
7
Employment, earnings, hours, wage rates. _
11,
12,13,14,15
Highway
6,7,12
New construction, dollar value
6
Consumer credit
16
Consumer expenditures
1,8
Consumers' price index..
5
Copper
22,33
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
Credit, short- and intermediate-term
16
Crops
2,5,25,27,28,30,38
Currency in circulation
18
Dairy products
2, 5,11,12,14, 27
Debits, bank
15
Debt, United States Government
17
Department stores
8,9, 10, 16
Deposits, bank
15,16,18
Disputes, industrial
13
Distilled spirits
27
Dividend payments and rates
1,18, 20
Drug-store sales
8, 9
Dwelling units
7
Earnings, weekly and hourly
13,14,15
Eggs and poultry
2,5,29
Electric power
5,26
Electrical machinery and equipment
3,
4,5,7,11,12,13,14,21,34
Employment estimates and indexes
10,11,12
Employment Service activities
13
Emigration and immigration
23
Engineering construction
6
Expenditures, United States Government
16
Explosives
25
Exports (see also individual commodities)
20, 21
Express operations
22
Failures, industrial and commercial
4
Farm income, marketings, and prices
2,5
Farm wages
15
Fats and oils, greases
5, 25,26
Federal Government
finance
16,17
Federal Reserve banks, condition of
15
Federal Reserve reporting member banks
16
Fertilizers
5,24
Fiber products
34
Fire losses
7
Fish oils and
fish
25,29
Flaxseed
25
Flooring
31.32
Flour, wheat
28
Pages marked S
Food products
2,
3,4, 5, 7, 8,9,11,12,14,18, 27, 28, 29,30
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
22, 23
Freight cars (equipment)
40
Freight-car surplus and shortage
23
Fruits and vegetables
2,5,21,27
Fuel oil
35
Fuels
2,5,34,35
Furs
22
Furnaces
34
Furniture
2,3,5,8,9,11,12,13,14,16
Gas, prices, customers, sales, revenues
5, 26
Gasoline
2,7,8,9,36
Glass products (see also Stone, clay, etc.)
2,38
Generators and motors
.
34
Glycerin
24
Gold
18
Grains and products
5,19, 21, 22, 23, 28
Grocery stores
8,9
Gross national product
1
Gypsum and products
6,38
Heating apparatus
6,11,12,13,14,33,34
Hides and skins
5,22,30
Highways and roads
6, 7,12,15
Hogs
29
Home Loan banks, loans outstanding
7
Home mortgages
7
Hosiery
38
Hotels
11,13,14,15,23
Hours of work per week
12,13
Housefurnishings
5,8, 9
Household appliances and radios
5,8,9,16,34
rnmigration and emigration
23
mports (see also individual commodities). 20, 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
nsurance, life
17,18
nterest and money rates__
16
nternational transactions of the U. S
20, 21, 22
nventories, manufacturers' and trade.___ 3,4,9,10
ron and steel, crude and manufactures
2,
6,21,32,33
Jewelry stores, sales, inventories
8,9
35
Kerosene
Labor disputes, turn-over
13
Labor force
10
Lamb and mutton...
29
Lard
29
Lead.
33
Leather and products
2,3,4,5,12,14,15,30,31
Linseed oil
25
Livestock
2,5,22,23,29
Loans, real estate, agricultural, bank, brokers'
(see also Consumer credit)
7,15,16,17,19
Locomotives
40
Looms, woolen, activity
39
Lubricants
.
35
Lumber and products
2,
3,5,8,9,11,12,13,14,31,32
Machine activity, cotton, wool
39
Machine tools
34
Machinery
2,3,4,5,11,12,13,14,18,21,34
Magazine advertising
8
Mail-order houses, sales
8,9,10
Manufacturers' sales, inventories, orders
3,4
Manufacturing production indexes
2,3
Manufacturing production workers, employment, payrolls, hours, wages
11,12,13,14,15
Meats and meat packing
2,5,11,12,14,29
Medical and personal care
5
Metals
2,3,4,6,11,12,13,14,15,18,32,33
Methanol
24
Milk
27
Minerals and mining
2,3,11,13,14,15, 20
Monetary statistics
_,
18
Money orders
8
Money supply
18
Mortgage loans.
7,15,16,17
Motor fuel
36
Motor vehicles
3, 5,8,9,40
Motors, electrical
34
National income and product
1
National parks, visitors
23
Newspaper advertising
8
Newsprint
22,37
New York Stock Exchange, selected data
19, 20
Nonferrous metals__
2, 6,11,12,13,14, 22,33
Noninstalment credit
16
Oats
28
Oil burners
34
Oils and fats, greases
5,25,26
Oleomargarine
26
Operating businesses and business turn-over. _
4
Orders, new and unfilled, manufacturers'
4
Paint and paint materials
5, 26
Panama Canal traffic
23
Paper and pulp
2,3,4, 6,11,12,14,15, 22,36,37
Paper and products
2,3,4,6,11,12,14,15,36,37
Passports issued
23
Payrolls, indexes
12
Personal consumption expenditures
1, 8
Personal income
1
Pages marked S
Personal saving and disposable income
1
Petroleum and products
2,
3,4,5,11,12,13,14,15,21,22,35,36
Pig iron
32
Plant and equipment expenditures
1
Plastics, synthetic, and resin materials
26
Plywood
31
Population
10
Pork
29
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 and publishing
2,3,4,11,12,14,15,37
Profits, corporation
1,18
Public utilities___ 1,6,11,13,14,15,17,18,19, 20, 26
Pullman Company
23
Pulp wood
36
Pumps
34
Purchasing power of the dollar
6
Radio and television
5, 7,34
Railroads, employment, wages, financial statistics, operations, equipment
11,
12,13,14,15,17,18,19,20,22,23,40
Railways (local) and buslines
11,13,14,15
Rayon and rayon manufactures
2,39
Real estate
7,16,17,19
Receipts, United States Government
16
Reconstruction Finance Corporation, loans
17
Recreation
5
Refrigerators, electrical
34
Rents (housing), index
5
Retail trade, all retail stores, chain stores (11
stores and over only), general merchandise,
department stores
3,4,8,9,10,11,13, 14,15
Rice.
28
Roofing and siding, asphalt
36
Rosin and turpentine
24
Rubber, natural, synthetic, and reclaimed,
tires and tubes
6, 22,37
Rubber products industry, production index,
sales, inventories, employment, payrolls,
hours, earnings
2,3,4,12,14,15
Rural sales
10
Rye
28
Saving, personal
1
A
Savings deposits
16
Securities issued
18,19
Services
4,8,11,13,14,15
Sewer pipe, clay
38
Sheep and lambs
29
Ship and boat building
11,12,13,14
Shoes and other footwear
2,8,9,12,14,15,31
Shortening.
26
Silk, imports, prices
6,39
Silver
18
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 Inventories)
10
Stocks, dividends, listings, prices, sales, yields.
20
Stokers, mechanical
34
Stone, clay, and glass products...
2,
3,11,12,13,14,38
Stoves
34
Sugar
22,30
Sulfur
25
Sulfuric acid
24
Superphosphate
24
Tea
30
Telephone, telegraph, cable, and radio-telegraph carriers
11,13,14,15,18,19, 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
2,3,4,5,6,8,11,12,14,15,21,30
Tools, machine
34
Trade, retail and wholesale. 3,4,8,9,10,11,13,14,15
Transit lines, local
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 compensation
10,13
United States Government bonds.
16, 17, 18, 19
United States Government
finance
16,17
Utilities
1,5,6,11,13,14,15,17,18,19, 20, 26
Vacuum cleaners
34
Variety stores
8,9
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
13,14,15
Washers
34
Water heaters
34
Wax
36
Wheat and wheat
flour.
19,28
Wholesale price indexes
5,6
Wholesale trade
3,4,10,11,13,14,15
Wood pulp
36
Wool and wool manufactures
2,6,22,39,40
Zinc
33
UNITED STATES
GOVERNMENT PRINTING OFFICE
DIVISION OF PUBLIC DOCUMENTS
WASHINGTON 25, D. C.
PENALTY FOR PRIVATE USE TO AVOID
PAYMENT OF POSTAGE, f3OO
(GP01
OFFICIAL. BUSINESS
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A Basic Handbook for Businessmen
B U S I N E S S STATISTICS
The 1953 Statistical Supplement
to the Survey of Current Business
Business
Statistics
1953
Edition
THE NEW VOLUME contains comprehensive descriptions and explanations of all statistical data covered in its
tables and in the monthly Survey of Curren Business, furnishing the reader with
the information essential to the proper
us of the data* Definitions of the statis-
BUSINESS STATISTICS, 1953 edi-
tical units employed, methods of collec-
tion, will hereafter be the basebook to
ion of data, adequacy of samples, and
which the 2,600 series regularly carried
names and addresses of the original com-
in the 40-page Monthly Business Statis-
pilers are among the information in-
tics section of the Survey of Current Bus«
eluded. In addition, the notes direct the
iness will be keyed. For each of these
feader to previous publications provid-
series it provides monthly data from
ing monthly data prior to 1949, and call
January 1949 through December 1952,
attention to any changes in the series
and annual averages of monthly data
which might affect comparability.
from 1935 through 1952.
UNITED STATES DEPARTMENT OF COMMERCE
OFFICE OF BUSINESS ECONOMICS
$1.50 per copy, BUSINESS STATISTICS is now available from the nearest Department of
Commerce field office or from the Superintendent of Documents, U. S. Government Printing Office,
Washington 25, D. C.
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