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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