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SURVEY OF C U R R E N T BUSINESS
W E E K L Y SUPPLEMENT
UNITED STATES DEPARTMENT .OF COMMERCE
BUREAU OF FOREIGN AND DOMESTIC

COfvlIMSERCE
APRIL 16, 1948

AVAILABLE ONLY WITH SUBSCRIPTION TO SURVEY OF CURRENT BUSINESS

SELECTED

BUSINESS

INDICATORS
ELECTRIC- POWER PRODUCTION BY UTILITIES

STEEL INGOT PRODUCTION

(BILLIONS OF KILOWATT HOURS)

(1935-39* 100)
jf®®&H^

/

mSKLY 0AT6

1947

4.5

g^a

^SiF©"?**!*^^^ f * \
•

'•-" v

f

«-.««, P™"*

4.0

!00

1946

50

d
\

I , , ,I , , •

J^LjXl^d-tOoX

\ /

(1935-39-100)

3501

CLOSE

A

fit

^nuH\

/

i i i l i l i i t i i

1945

kAw
i i i i i ! i i i i i

Joj-xaJuo-Li-LaaJ

DEPARTMENT STORE SALES AND STOCKS

PRICES OF 3 5 4 INDUSTRIAL STOCKS
WECNESOtY

V

3.5 L L - m J - U L J - J J U ^ J L U U I i , U , . . , J J J U J U L J L ~ J > U ~ L ^

(SEASONALLY AOJUSTEO, 1 9 3 5 - 3 9 « 100)
MONTHLY

DATA

300J

SALES

A.

250J

A^/^V
1 1 1 1 1 1 1 1 1 11

v/

200 j
j / ^ " STOCKS

„.',L_l_J, J_.lJLjL-L_LJLJL.

150

, rtfTTl TTTV^
\1\

1946

1 M 1 l.ll.i J I I I 1 l l l l 1 I I , 1 1 1 1 1 1 1 1 1 1 1 1
1948

1945

WEEKLY

BUSINESS

STATISTICS

1
19^8

19^7
iTm
Apr. 5
Commodity p r i c e s , wholesales
All commodi t i e s
19 26* 100..
farm p r o d u c t s . . „
do
food
do....
All o t h e r .
do..«.
28 commodities 2/
August 1939*100..
Cotton, middling, 15/l6 M , 10 markets j / .
d o l . per l b . .
Wheat,, Ho. 2, Hard Winter (Kansas City) 4 / . . . . . . d o l . per b u . .
Department store s a l e s . . . .
1935-39*10°••
Insured unemployment, t o t a l £ /
thous..
S t a t e programs
;
do....
Veterans' programs
do....
finance:
Currency in circulation j/.......,
mil. of dol..
Federal Reserve bank credit, total
do
Member bank reserve balances
.do....
Excess reserves, estimated.
,
do....
federal iteaerve reporting member banks in leading cities! 6/
Bank debits, total
..mil. of dol..
New York City
.
..do....
deposits, demand, adjusted
do....
Loans and investments, total
do.. •.
U. S. Government obligation a.
.do....
Commercial, industrial and agricultural loans......do....
failures, commercial
..number.•
Bond yields, domestic corporate (Moody1 s)..
.percent..
Stock prices, 402 stocks (Standard and Poor's)..1935~39»100..
Industrials, 354 stocks
do....
Production:
Bituminous coal %J
thous. of short tons..
Electric power, by utilities
.....mil. of kw-hr..
Motor vehicles (Wards) jj
number..
Petroleum 4/
*....thous. of bbl..
Steel 8/. .7
...
•
1935-39*100..
freight carloandings, total
thous. of cars..
Miscellaneous.
do....

148.8
181.2
164.4
132.3
331-3
.356
2.61
319
2,060
1,080
914
28,265
22,75s
15.540
563

Apr. 12

Mar. 15

Mar. 20

148.1
180.1
163.O
132.1
327.5
.3U6
2.71
265
2,074
1,125
887

159.8
184.9
171.2
147-3
315.I
•337
2.43
279
1.75*
1,073
633

161.5
I87.6
176.4
147.3
317.6
.340
2.hS
313
1.722
1,067
606

161.1
186.2
174.8
147.4
315.9
•346
2.3S
331
1.689
1.055
585

160.1
I83.9
172.4
1U7.7
318.9

m

322.6

28,240

28,010
21,326
17.366
934

27.920
21,187
17.351
956

27,853
21,429
16,870
716
a , 254
8,739
^6.391
63*232
35.46*9
14,484
101
3.10
118.8
124.5

27,806
21,607
16,639
596

27,828
21,085
16,905
70S

15,93$
886

Mar. 27

Apr. 3

Apr. 10

282

22,349
15.698
is.503
20,769
23.059
6,050
$.955
9,860
8,105
8.857
7,184
45.011
47,011
^7.581
45,3*0
44,482
64,128
62,221
63,756
63.IU
62.979
36,061
39.0}k
36.193
3M33
38,850
14,594
12,269
1^.578
14,417
12,271
102
106
59
91
71
3.10
3.10
2.78
3.07
3.09
2.7s
113-1
113.9
120.5
123*0
121.7
123.6
118.7
124.4
117.9
129.2
127.8
127.9
1,136
356
2,219
127
798
353
4,620
5.285
5.1^5
5.037
4,693
5,065
114,689
97.893
115.556
103.520
105,132
97.385
107,284
4,913
5,265
5.240
4,892
5,389
5.377
186.4.
195.0
176 \i
196.9
193.2
I87.0
I8O.5
758
797
664
700
662
715
370
377
385
383
381
385
1/ Data do not always cover calendar weeks. 2/ Thursday p r i c e s . "*J Daily averages. 4/ Data since week ending July 12, 1947 include dark
hard winter not included previously. %j for d e s c r i p t i o n see note i n July 13, 1946 i s s u e . 6/ Shown on a revised b a s i s beginning In Supplement for July 18, 1947, Jj Data a r e for U. S. and Canada and include passenger c a r s , comme7clal c a r s , and t r u c k s . 8/ Week ending April
17, 144.0.
-'
^




2

MONTHLY

BUSINESS

STATISTICS
1947

Earlier data are available in mpnthly issues of the Survey
'. *
and the 1942 Supplement
February

1948

March

December

January

February

DOMESTIC TiiAJJiJ
Department store sales, United States totals:
Unadjusted index
Adjusted index
»
iiural sales of general merchandise:
Total U. 3., unadjusted
jfest, •
•
•
South
.........
Middle West
Far west
Total U. S., adjusted
liast
•
South
Middle West
Par West

222
265

266
272

483
303

224
284

1929-3.1*100.
••d0* •'
. .do..,
do...
do..
do..,
do..
do..,
do...
•... .do..,

279 .b
266.0
430
235
295
3*5
325
471
296
398

331.0
358.2
423.2
289.0
350.5
376.9
398.9
468.6
326.2
425.8

466.6
448 ;6
644.9
389.9
56S. 2
291.8
269.4
*29-3
249.9
348.1

273.8
262.8
423.8
224.6
301.4
359.7
3*5.8
535.7
293.6
410.1

thousands,
do..,
.do..,
do..,
do..
do..,

1,620
53,010
55.520
6,920
48.6Q0
2,490

1.570
58.390
56,060
7,240
48,820
2.330

1,280
59.590
57.9*7
6,962
50.985
1,6*3

l,24l
59.214
57.149
7.060
50,089
2,065

1.226
59.773
57.139
6.771
50,368
2.639

261,418
233.176
24,938
3.305
181
20,330
28,304

259,124
230,618
25.183
3.324

256,900
225,250
28,955
2.695
76
22,75*
28,868

256,57*
224,810
29,148
2,6l6
72
22,935
28,111

254,605
222,854
29,246
2.505
7*
23,036
r28,019

122.7
116.8
123.7
112.4
114.3
133.1
104.35

122.4
116.6
123.7
112.5
113.6
132.5
104.61

117.0
112.5
II9.I
113.9
104.6
126.2
101.59

117.4
112.4
118.9
104.6
124.5
IOO.70

117.5
112.4
U9.3
114.1
103.8
122.6
100.70

73.249
100,247

67.522
89.587

145,181
186,213

98,892
134,381

60,126
84,508

68,979
95.3*9

63.187
81,491

137.971
178,255

93.971
128,055

56,l6l
79,15*

2.78

2.79

3.12

3.12

3.12

2.55
2.64
2.79
3.12

2.55
2.64

2.86
2.94
3.16
3.52

2.86
2.94
3.17
3-52

2.61
2.72
3.00
1.99
2.21

2.6l
2.73
3.02
2.02
2.19

2.92
3.02
3-42
2.35
2.39

2.91
3.03
3.44
2.45
2.45

2.90
3.03
3-*3
2.55
2.45

2,196
95*.65
2.30
3.21
2.32
2.59
1.95
2.75

2,196
95* .65
2.30
3.21
2.35
2.59
1.95
2.66

2.4J3
95*-65
2.59
3.21
2-75
2-59
1.99
2.56

2,482
95*.65
2.60
3.21
2.76
2.59
2.00
2.56

2,482
954.65
2 .60
3 •2 1
2 •77
2 •59
2 .00
2 .56

rl98.3
r93-8
rl.3
rl0.4
r31.2
rS.l
r51.3
r.2
r2.0

r507.2
OI9.2
r24.7
r44.S
O0.5
r22.4
r35.8
rlO.5
rl9-3

rl,l39.6
r726.9
r99.9
r67-3
r98.7
r51-3
r46.0
rl3.1
r36.4

527.8
224.9
6.6
55.9
100.5
23-7
50.5
33.7
12.0

199.
99.
1.
17.

1935-39*100.
do..,

236
283
299.8 I
295.7
462.6
250.5
309.4
370.5
361.5
507.3
315.1
418.1

B4PL0YMSMT CONDITIONS AM) WA&SS
Labor force (Bureau of tne Census):
Armed forces
Civilian labor force
Employment
Agricultural
Uonagricultural.. *
Unemployment

.
. .y...

FlaANCS
Federal Government finance:
Debt, gross, end of month
.......mil. of dol.
Interest bearing: Public issues
do,.,
Special issues.. ..
do..
iioninterest bearing
»,.....
,. ...do..,
Obligations guaranteed by U. S., amount outstanding...do..
Gold, monetary stock, United States.
do..
Currency in circulation
do.,,
.Bonds:
Prices:
Industrials, utilities,and rails (Stan.and Poor's Corp.):
High grade (15 bonds)
dol. per $100 bond.
Medium and lower grade, composite (50 bonds)
.do..
Industrials (10 bonds)
do..
Public utilities (20 bonds)
do..
fiailroads (20 bonds)
do..
Domestic municipals (15 bonds)
do..,
U. S. Treasury bonds (taxable)
do..,
Sales (Securities and Exchange Commission):
Total on all registered exchanges:
Market value
thous. of dol,
Face value
do..,
On Hew York Stock Exchange:
Market value
do..
Face value..
do..
Yields:
Domestic corporate (Moody's)
percent
% ratings:
Aaa
do..
Aa
..
do..
A
do..
Baa
do..
By groups:
Industrials
do..
Public utilities
do..,
Sailroads...;
...do..
Domestic municipals (15 bonds)
do..,
U. S. Treasury bonds (taxable)
do..
Stocks:
Cash dividend payments, 600 companies (Moody's):
Total annual payments at current rates
mil. of dol
dumber of shares., adjusted
millions
Dividend rate per share (weighted average)
dollars
Banks (21 companies).......
do..

Industrials (492 compani.es)
Insurance (21 companies)
Public u t i l i t i e s (30 companies J
Hailroads (36 companies)
Cash dividend payments publicly reported:
Total dividend payments
Manufacturing
Mining..'.
Trade
Finance
Hailroads
Heat, l i g h t , and power.
Communications...*..
Miscellaneous^-.
rj Eevised.

£ / Preliminary.




do..
do..
do..
do..
mil. of dol
do..
..-. . . d o . .
do..
do. •
do..
.do..
do..
do..

}p
20,463
28,230

33-

$.
37.

MO NTH L Y

B U S I N ESS

Earlier data are available in monthly issues of tne Survey
and the 1942 Supplement

3

S T A T I S T I C S — Continued
19U8

19*7
february

March

December

January

February

FINANCE - Continued
Stocks - Continued.
Prices?
Dow-Jones & Co. (65 .stocks)
• • • .dollars per share,
Industrials (30 stocks)
do..
Public utilities (15 stocks)
;.
do..
Bailroads (20 stocks)
•
do..
Combined index (1+02 s t o c k s ) . . . . . . . w > . . .
1935-39*1°°
Industrials (354 stocks)
»
.
do..
Public utilities (2S stocks)
....do..
xiailroads .(20 stocks) ..............
do..
Sales (Securities and Exchange Commission)*
Total on all registered exchanges*
Market value
.tnoua. of dol
Shares sold
thousands
On Hew York Stock .Exchange:
Market value
,
thou a. of dol
Shares sold
.
thousands
Yields:
Common stocks (200), Moody's......
..percent
.Banks (15 stocks)..........,,
..,
.....do..
Industrials (125 stocks) ......... v ......::*y...i;.do..
Insurance (10 stocks)......*.,
•
......do..
Public utilities (25 stocks)
.do..
Bailroads (25 stocks)..
-.........do..
Preferred, high-grade (15 s t o c k s ) . . . . . .
do..

63.66

65.S3
181.54
37.17
51-7*
128.7
132.6
111.4
118.8

63.64
176.66
36.02
*9-l5
123.7
127.7
107.3
109.9

179.18
33-04
49.46
122.4
129.2
94.0
IO3.9

63.78
176.26
33.06
51.44
120.1
126.0
95.1
IO6.5

60.91
168.47
31-95
49.19
114.2
II9.2
92.6
101.9

1,143,786
53.518

927,888
37,227

1.178,471
53.160

923.580
40,123

777.*75
3*.336

91+3,861
3*.109

770,103
25,302

1,003,243
38,688

784,851
28,696

•658,857
2*, 70* J

4.7
4.2
4.6

4.8
4.4
4.7

5.*
*-7

5.5
4.6
5-6

23

U

5-8 I
*.s
5.5H
3.5

6.8
3-71

6.8
3J2

3.19*
723
58
197
205

3.320.
732
58

5°

496
56
1.519
146
1*7
180
159
159
121

ft

5.5
6.9

4.07

6.5
4.13

3,164
71*
60
168
177
50
432
66
l.*95
149
155
191
158
138
96
74
192
156

3,824
'916
75
205
225
55
*99
63
1.787
1*5
155
183
153
132
84
68
180
152

1,454
139
150
178
11*0
.103
76
'71
135
146

30,899
20,925
9,337

2,714
50
116
35,9*3
24,178
10.713

5,886
712
172
12,146
5.643
6,072

12,013
3,600
983
8,747
2,888
5,*71

6,657
1.817
184
13,030
*.9&
7,588

521
1.143
3.897
1.271

644
1,228
3.*o6
1.237

6,254
1.451

586
1,312
5.223
1.3*7

330,451
301,704

r622,l42
r595,486

378.3*1
366,575

3*3.020
337.591

388,071
382,930

335.229
*9.365
1.383.996

568,79*
22,114
rl,317,694

384,783
485,709
1.903,923

81,968
1**,172
1,808,302

359.259
68,262
,880,195

38,255

40,429

r39,849

r40,823

*0,229

35.631

37.766

r35.79*

*37.99*

37,256

9.121
1,520
18.991
5.011
3.123
2,146
357
160

r9.3°6
1,556
rl6,69^
r5,004
r3.235
*3.539
rt*9
167

r9,P64
1.397
rlS,4S8

9,091
1.223
18,283
5.27*
3.385
2,495
298
180

*.18

TaANSPQBTATION
freight carloadings:
Total cars (A.A.R.) l/...
thousands
Coal
T
do..
Coke
do..
forest products
,
.do..
Grains and grain products.....
do..,
Livestock
do..
Merchandise, l . c . l
..do..
Ore
do..
Miscellaneous
...do..
Combined index, adjusted
I935-393IOO,
Coal
.do..
Coke
... .•
do..
forest products
do..
Grains and grain products
do..,
Livestock
do..
Merchandise, l.c.l
do..,
Ore
,
do..
Miscellaneous
.do..
freight-car surplus and shortage, daily average:
Car surplus
number,
Box cars
'••••.
••
do..
Coal cars
•
do..
Can snortage
do..
Box cars
.dc
Coal cars
•
..do..

466
49
1,447
142
149
166
147
111
76
172
145

3.3°°
224
85

197
208

:

78

171
151

3.078
730
60
166
1*4

3*
*3*
56

fOODSTUffS AND TOBACCO
Livestock slaughter (federally inspected):
Calves
.thous• of animals.
Cattle
do..
Hogs
;
do..
Sheep and lambs ...
V.
,
do..
Sugar, U. S., deliveries and supply (raw value):
Deliveries, total
short tons
for domestic consumption
........do..
Production, domestic, and receipts:
Entries from off-chore areas
do..,
Production, domestic cane and beet
do..
Stocks, raw and refined....
.do..,

1,3*1

5U
977
3.7*6
1,2091

LSATEEH AND PRODUCTS
Snoes and slippers, production, total
thous. of pairs.
Shoes, sandals, and play shoes, except athletic* total
thous. of pairs<
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...
t
Athl e t i e
..',....
.•
do...
Other footwear
do...
vj Bevised.

8,591
1.533
17.838
4,706
2,963
2,176
315
133
1/ Data for January ig48 are for 5 weeks; other months, 4 weeks,




^448
r2,351
r304
179

4

MONTHLY

BUSINESS

E a r l i e r data are a v a i l a b l e in monthly issues of the Survey
and the 1942 Supplement

ST'A T I S T ICS —Continued
1948

19^7
February

December

January

February

UMbW. AKD HmnfkOTVBXS
Lumber (National Lumber Manufacturers Association)!
Production, t o t a l * .
n i l . of bd. f t . .
Hardwoods
.
.
•
.
«do...
Softwoods
•
do...,
Shipment*, t o t a l
....do...
Hardwoods
•••.."
••••
do...
Softwoods.
........
••
do. •.
Stocks, gross* end of months total
....do...
Hardwoods. ..«....•
«
«
do...
Softwoods
do...

1,813
3,101

2.9f5
667
2,298
2,804
576
2*228
5,077
1,904
3.173

J63
650
.113
,844
641
,203
,557
,018
3.539

2,719
682
2,037
2,788
672
2,116
5,739
2,140
3,599

2,479
6?l
1,848
2,624
697
1.927
5,601
2,074
3.527

65,19s
76,074
65.356
162,461

75.376
75,788
67.325
162,049

70,996
72,151
61,258
68,011

71.505
84,431
64,605
55.085

66,784
r73»608
62,503
r48,26l

26,003
23,732
38,082

29,^52
26,073
4l,46l

28,583
28,583
39,749

29,954
22,744
•46,959

29,483
18,660
57,443

4,168
4,200
2,254

4,862.
4,441
2,675

5.201
5,388
2,341

5.406
5,168
2,632

5,138
5,010
2,664

472.5

532.3

467.8

38O.9

367.3

3»506

3,464

3.4SQ

3.819

'3.635

4,240

4,967

4,863

4,921

4,675

49,758
37.214
798
7,245
607
6,594
9,431
904
11,635
12,544
214
51,482

49,705
3*>7l6
907
8,030
652
6,940
10,137
945
11,104
10,989
233
55.455
49,033
46,906
7,517
929
14,059
8,262
1,162
14,977
2,127

r54,922
r4l,668
r963
8,400
709
8,796
9,726
1,104
1/11.970
13.254
1/
55.780
r49,576
r48,185
8,671
1,049
15.792
6,906
r943
14,824
1.391

49,920
38,243
846
7,770
636
7,904
9,091
996
1/11,000
11,677

47,867
45,736
6,645
881
13,453
7,682
985
16,090
2,131

49,l6l
38,315
950
8,425
757
8,450
9.652
966
9,115
10,846
202
54,798
52,l6l
50,124
9,148
1.113
16,788
6,749
1,012
15,314
2,037

12,152
7*159
8,386

11,458
6,516
7,897

6,816
r5,385
r5,538

6,656
r4,936
r6,186

5.733
4,958
6,462

2,751
6^
2,107
2,707
605
2,102

METALS AND MAMJJfACTUBES

JSir.c, slab:
Production
...
short tons.
Snipments
•
do...
Domestic...
....*.........
do...
Stocks, end of month.
do...
B o i l e r s , r a d i a t o r s , and ccnvectcrs, c a s t - i r o n !
Boilers (round and square)i
Production
*
v . . . . . . . . . . . . t h o u s . of l b .
Shipments
«
»»
.do,..
Stocks, end of month.
.do...
Kadiation J
Production.....
.......thous.. of sq,. ft.
Shipments.
.do...
Stocks.
».«•
;......
do...
foundry equipment, new orders, nets
fcew equipment
1937-39*100.
Pumps, steam, power, centrifugal and rotary.*
Orders, new
*•..
thous. of dol.
PiuTBQLSUM AMD GOAL PRODUCTS
Anthracite, production
.thous. of short tons.
Bituminous coal:
Industrial consumption and retail deliveries, total
thous. of short tons.
Industrial consumption, total
..do...
Beehive coke ovens
do...
Byproduct coke ovens
..
do...
Cement mills
do...
Slectric power utilities..
do...
Baiiways (class I) .
do...
Steel and rolling mills...
*
do...
Other industrial..
..do...
Betail deliveries.
>
do...
Other consumption, coal mine fuel. .-....do...
Production.. ?
do...
Stocks, industrial and retail dealers, end of month,
total
•
..thous. of short tons.
Industrial, total
do...
Byproduct coke ovens
«
do...
Cement mills.
>
do...
21ect>ric power utilities*.
........do...
Baiiways (class I)
do...
St eel and rolling mills
do.
Other industrial.
•
.do...
Retail dealers, total...........
do...

,

1/

48,390

48,472
47,283
8,807
991
14,868
6,906
976
1^.735
1,189

TSXf ILB. PiiQDUCTS
Pyroxylin-coated fabrics*
Orders, u n f i l l e d , end of month
Pyroxylin spread
Shipments, b i l l e d
r / Bevieed.

.thous. of l i n e a r yd.
thous. of l b .
...thous, of l i n e a r yd.

1/ "Other consumption, coal mine fuel" included with "other i n d u s t r i a l , J beginning January 1948.




March