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SURVEY OF CURRENT BUSINESS WEEKLY SUPPLEMENT UNITED STATES DEPARTMENT OF COMMERCE BUREAU OF FOREIGN AND DOMESTIC COMMERCE WASHINGTON, D. C , APRIL 23, 1942 SUMMARY OF BUSINESS TRENDS INDUSTRIAL activity in the aggregate is continuing to make x moderate gains as the output of war goods moves sharply higher. The Federal Reserve Board's adjusted index of industrial production stands at 174 (1935-39=100) for March, up 1 point from February and 3 points since the beginning of the year. The steel industry contributed to the increase-with the recordbreaking production of 7,393,000 tons for the month—98.3 percent of capacity. Steel output at present, however, is lagging slightly as furnace repairs are being made necessary by the high rates of operation. Emphasis is still on the production of certain finished products, such as steel plates for the large shipbuilding program. Bituminous coal output in March compared favorably with production in March of last year when activity was high in anticipation of the April strike. Production from January through March 28, on a daily average basis, was 5 percent greater than for a year ago, with present production continuing, high as consumers are urged to stock up now in order to ease pressure on transportation facilities later in the year. Crude oil production, on the other hand, continues to fall as shortages in transport and storage facilities hamper the industry. Daily average production for the week ended April 11 was 3.5 million barrels compared with 3.7 million barrels for the month of March. For similar reasons, gasoline production has also been declining, production for the week ended April 11 falling to the lowest point for the year. Gasoline stocks on the East Coast have declined to 17 million barrels from the 20 million barrels on hand at the year end. In view of this situation, the War Production Board recently curtailed further filling station supplies of gasoline in 17 Atlantic Coast States, the District of Columbia, and the States of Oregon and Washington. Filling stations are now limited to one-third their average deliveries from December to February. This restriction is the most severe which has yet been applied to the Nation's supply of motor fuel. Although the volume of rail shipments remains large, the Federal Reserve Board's seasonally adjusted index of freight carloadings declined in March to 136 (1935-39=100) from 139 in February and 140 in January. The chief reason for the drop in this index is the failure of the industrially "important miscellaneous group to make the expected seasonal gain. Increased war shipments did not completely offset the reduction in the shipments of many durable consumer items, the output of which has been curtailed by various limitation orders. However, with noncivilian output expected to expand markedly between now and next autumn when we may expect the usual seasonal peak in loadings, the railroads will be called upon to move even substantially larger volumes. SELECTED BUSINESS INDICATORS STEEL INGOT PRODUCTION ELECTRIC POWER PRODUCTION (PERCENT OF CAPACITY) 140 FREIGHT- CARLOADINGS (BILLIONS OF KILOWATT HOURS) (THOUSANOS OF CARS) (20 too 1941 ~* 80 60 I94O^> •—^ _ m 40 . 1 yty f^\[ / . . 1 . . 1 . CRUDE OIL R U N S - T O - S T I L L S 5.0 (MILLIONS OF BARRELS- DAILY AVERAGE) BITUMINOUS COAL PRODUCTION (DAILY AVERAGE-THOUSANDS OF TONS) 2500 4.5 2000 4.0 1500 3.5 1000 3.0 500 (THOUSANDS OF CARS) ,942 If N 1941 2.5 0 ! ' COMMERCIAL LOANS WEEKLY WHOLESALE PRICES (1926*100) INDUSTRIAL PRODUCTION 200 MONTHLY DATA MONTHLY DATA . 180 / • 40 160 35 140 30 120 25 100 * 1 (SEASONALLY ADJUSTED, 1 9 3 5 - 3 9 " IQO) 45 454697—'2 f (NUMBER SELECTED FOR APPRAISAL ON HOMES TO BE BUILT) COTTON CONSUMPTION < DAILY AVERAGE - THOUSANDS OF BALES) 20 , , 1 , . 1 . , 1 , , 1939 f F.H.A. HOME MORTGAGES (BILLIONS OF DOLLARS) 50 MISCELLANEOUS CARLOADINGS ,, 1 . , 1 , , 1 , , 1940 . 1,. 1,. 1941 1 . 1 1 1 1 . 11.. 80 ,I,,J-, Mill 1940 1941 194? 2 WEEKLY BUSINESS INDICATORS* [Weekly average, 1936-39=100. except as indicated; data beginning January 1939 for most of the series on a 1935-39 base and 1939 and 1940 data for the New York Times index of business activity, also data beginning September 1939 for the price index of 28 basic commodities, are shown in table 32, pp. 24-26, of the November 1941 SURVEY] 1941 1943 1940 1943 Apr. Apr. Apr. Mar. Mar. Apr. Apr. Apr. Apr, 18 11 4 28 21 19 12 20 13 Business activity: 1 New York Times § Barron's, 1923-25=100 Business Week$, 1923-25=100.. Commodity prices, wholesale: Dept. of Labor: Combined index, 1926=100... ' Farm products,. Food-. All other... 28 basic commodities© Fisher's index, 1926=100: Combined index Copper, electrolytic! _._L Cotton, average, 10 markets!... Construction contracts? Distribution: Carloadings ._. Department-store sales 132.5 136.0 133.8 133.8 118.6 120.6 99.6 98.3 146. 146.0. 144.1 . __. 143.0 . . . 130.7 131. 99.5 100.0 179.7 180.0 178.6 177.1 144.8 144.6 105.2 104.8 98.1 97.9 97.4 97.2 83.0 82.9 78.5 78.0 104.6 104.2 103.4 103.1 75.0 74.9 69.6 97.0 97.2 95.9 95.5 77.8 77.5 71.9 70.8 95.6 95.6 95.3 95.3 86.0 85.9 82.6 82.7 166.9 167.3 167.2 166.4 165.8 137.9 136.8 117.4 115.0 105.6 105.4 104.8103.8103.8 1.7 89.2 84.8 84.5 !.9 113.9 108.1 106.2 112. 9 112.9 112.9 112.9 112.9 112.9 !.2 101.6 97.8 97.6 186.1 187.4 186.8 182.9 178.1 102.2 187.9 145.4 106.4 125.1 414.7 244.1 18.7 104.3 124.9 127.1 123.4 122.2 108.7 120 160 147 140 117 136 A p r . A p r . A p r . Mar. Mar. 18 11 4 28 21 Employment, Detroit, factory, 1923-25=100 _„. Finance: Bond yields!.. _ Stock prices?. Banking: Debits, outside N . Y . C.!___ Federal Reserve reporting member banks: Loans, total Currency in circulation! Failures, commercial, 1939=100. Production: Bituminous coalt _ Electric power Petroleum! Steel©... 1940 1941 pr.Apr. Apr. Apr. 20 108.9 111.0 13 108.3 82.5 82.5 82.7 83.0 83.5 84.2 84.0 87.7 87.4 62.5 64.5 63.5 63.8 64.0 78.6 80.3 100.2 101.4 145.4 130.2 160.3 150.1 166.3 128.7 114.5 110.3 93.3 132.3 132.8 133.0133.1 133. 6 115.2 114. 9 101..0 100.7 .81. 141.8141. 8 118.8 118.6 183.4 183.1 183.0181.0 181.0 79.2 76.0 85.9 94.7 68.2 94.3 84.8 92.6 121.6 144.3 155.9 111.9 185.0 187. 6 155.4 157.2 108.0 188.0 143.0 140.5 17.9 13.9 93.6 157.1 157.6 136.0 136.4 118.7 118.8 120.7116.6 118.5 113.8 121.9 121.7 188.4 186.3 L77. 7 179. 5 106.5 107.2 94.9 97 •Data do not cover calendar weeks in all cases. ^Seasonally adjusted. JDaily average. ®Index for week ended Apr. 25 is 185.7. §For New York Times index, computed normal = 100; this index has been revised back to January 1941; 1941 and 1942 data are shown on the revised basis beginning with the Jan. 15,1942, and Feb. 26,1942, issues, respectively. The Business Week index has also been revised for 1941 and 1942; 1941 data are correct as published only beginning with the issue of Feb. 5,1942; 1942 revisions were first shown in the issue of Mar. 19. ©Thursday prices; August 1939=100. WEEKLY BUSINESS STATISTICS • 1943 COMMODITY PEICES, WHOLESALE Copper, electrolytic, New York! dol. perlb.. Cotton, middling, ijfo" average, 10 markets! !_._ do Food index (Dun and Bradstreet) do Finished steel, composite* dol. per ton.. Wheat, No. 2, Hard Winter (Kansas City)._dol. per bu.. FINANCE Banking: Debits, New York City. mil. of dol.. Debits, outside New York City (140 cities) do.... Federal Reserve banks: Federal Reserve bank credit, total. -do—_. U. S. Government securities.. do Member bank reserve balances do Excess reserves, estimated do Federal Reserve reporting member banks: Deposits, demand, adjusted.. _ do Deposits, time do.._. Investments, total__ do..U. S. Government direct obligations...____.do.._. Obligations guaranteed by U. S. Govt do— Loans, total _ do Commerc'l, Indust'l, and agricult'l loans do... Interest rates, call loans!percent. Interest rates, time loans! do—. Currency in circulation !._ mil. of dol. E xchange rates: Pound sterling ! dollars. Failures, commercial ~ numberSecurity markets: Bond sales (N. Y. S. E.) thous. of dol. par value. Bond yields (Moody's)t percentStock sales <2V. Y. S. E.) thous. ofsharesStock prices (2V. Y. Times)tdol. per share.. Stock prices (Stand, and Poor's) (402)l__1935-39=100_. Industrials (354) _ do Public utilities (28) do .. Railroads (20) „ do -. PRODUCTION, CONSTRUCTION, AND DISTRIBUTION Production: Bituminous coalj thous. of short tons.. Electric powerA mil. of kw hr Petroleum! .... thous. of bbl.. Steel©.. pet. of capacity.. Construction contract awards! thous. of doL. Distribution: Freight carloadings, total _ cars Coal _ _ ...do . Coke _ do Forest products do^_. Grains and grain products do Livestock. _ do Merchandise, 1. c. 1 do Ore • do.... Miscellaneous _ do Receipts: Cattle and calvest thousands.Hogsf .do.... "Wheat at primary markets thous. of bu_. Apr. 18 Apr. 11 0.118 .203 3.65 56.73 1.14 0.118 .204 3.63 56.73 1.16 0.118 .203 3,807 6,091 3,143 5,455 2,384 2,243 12,715 3,169 1941 Apr. 13 0.118 .111 2.77 56.73 0.119 .111 2.75 56.73 0.113 .106 2.30 55.50 1.08 0.111 .106 2.30 55.30 1.04 0.103 0.105 2.28 56.50 2.28 56.50 4,289 6,967 3,398 5,387 4,794 3,640 4,621 3,122 3,903 3,270 4,091 2,714 3,672 2,326 2,244 12,527 2,847 2,351 2,249 12,939 3,161 2,286 2,184 13,979 6,264 2,235 2,184 13,656 6,027 2,514 . 2r467 12,757 6,048 2,500 2,467 12,575 5,949 2,591 2,564 9,743 2,584 2,564 9,528 3,879 24,574 5,125 19,379 12,942 2,702 11,402 7,008 1.00 1.25 11,485 « 4.034 268 25,010 5,129 19,585 13,058 2,701 11,446 7,035 1.00 1.25 11,482 * 4.035 193 23,577 5,450 17,292 10,739 2,755 9,871 5,530 1.00 1.25 8,997 • 4.014 267 23,430 5,457 17,292 10,726 2,751 9,846 5,494 1.00 1.25 8,996 «4.029 240 19,655 5,312 14,936 9,002 2,400 8,653 4,430 1.00 1.25 7,538 •3.510 19,465 5,360 2,696 11,381 6,975 1.00 . 1.25 11,616 « 4.035 215 24,197 5,120 19,100 12,705 2,684 11,394 7,003 1.00 1.25 11,610 • 4.035 243 2,379 8,631 4,393 1.00 1.25 7,523 • 3.515 344 16,619 5,213 13,684 8,273 2,030 8,124 3,853 1.00 1.25 6,871 4.680 316 16,388 5,212 13,571 8,213 2,038 8,120 3,852 1.00 1.25 6,856 4.680 313 37,227 3.34 2,008 67.62 63.2 64.6 57.0 60.2 47,901 3.34 1,724 69.84 65.3 66.9 58.3 63.0 1,33S 68.74 64.4 65.9 57.7 61.7 75,640 3.36 1,707 69.11 65.2 66.7 58.6 63.1 61,030 3.38 1,864 69.23 65.7 66.9 59.7 64.7 34,610 3.41 2,466 85.10 77.7 77.1 83.3 70.6 37,090 3.40 2,326 86.91 78.7 78.0 84.9 71.1 33,210 3.55 6,750 108.42 97.4 97.9 102.3 75.9 42,310 3.54 6,895 109.78 98.5 99.2 103.0 77.7 24,880 3.85 2,467 91.16 84.5 84.6 92.2 62.9 35,440 3.88 6,553 89.78 83.7 83.8 90.9 97.2 1,875 3,321 3,543 98.6 1,858 3,346 3,820 99.0 38,990 1,825 3,357 3,692 97.9 22,955 233 2,897 3,753 98.3 17,671 180 2,906 3,604 99.3 13,669 1,216 2,529 3,859 60.9 10,004 1,277 2,530 3,854 61.3 11,762 444 2,265 3,527 50.9 11,073 679,808 31,592 9,415 619,105 113,642 7,326 31,174 31,196 11,146 148,301 12,539 263,781 557,867 113.957 7,525 . 32,096 34,163 11,304 148,150 15,178 178 253 169 320 5,512 3,027 24,799 5,117 19,502 • 13,080 Mar. 21 56.73 1.18 0.118 .199 3.57 56.73 1.19 0.118 .194 3.57 56.73 1.21 3,999 6,713 3,650 6,290 2,244 12,496 2,019 3,349 3,418 Apr. 19 1939 Apr, 20 24,725 5,118 20,270 13,764 2,682 11,332 6,948 1.00 1.25 11,637 « 4.035 224 Mar. 28 1940 Apr. 12 2,415 2,259 12,502 Apr. 4 814.233 160,646 13,768 46,867 33,861 11,117 132,367 51,007 364,600 828.890 147,8lfi 13,845 48,415 35,330 11,986 139, 798 55,044 376,656 804,746 156,048 13,846 45.921 33, 714 10,797 143,550 30,154 370,716 796,640 152,907 14,074 47,469 35,608 10,445 145,078 15,963 375,096 708,651 33,404 9,152 40,894 33,512 11,502 161,009 74,345 344,833 33,696 10,788 161,667 45,951 347,417 205 272 3,083 212 279 2,050 203 280 3,714 199 279 4,214 191 309 4,130 167 263 3,653 H??5 Apr. 22 2,235 3,495 52.1 12,659 547,179 54,461 5,839 28,008 5,710 28,450 30,752 13,309 152,035 12,813 247,900 12,483 154,139 11,259 250,062 3,817 4,022 IDaily average. * Data do not cover calendar weeks in all cases. • Free rate. ^Revised series. See table 32, pp. 24-26 of the November 1941 SURVEY for stock prices beginning January 1939 and cotton prices beginning August 1939. •New series. This series replaces the iron and steel composite price, which has been discontinued by the compiling source. ©Rate for week ended Apr. 25 is 97.6; data for 1942 are based on estimated capacity as of Dec. 31,1941, of 88,570,000 tons of steel ingots and steel for castings. t Comparable data are not available prior to 1940 because of a change in the markets included in the data beginning with that year. A1W1 data are shown on a revised basis beginning with the Jan. 15,1942, issue; 1941 and earlier revisons not published are available on request. Apr. 15 MONTHLY BUSINESS STATISTICS Earlier data are amiable in monthly issues of the SutTey and the 1940 Supplement 1943 1942 January February 81.5 96.0 96.7 84.2 75.3 83.4 71.6 67.8 82.5 83.6 75.2 80.3 60.7 83.7 96.4 96.1 91.7 100.8 95.9 105.7 94.8 93.7 96.0 78.3 101.6 97.0 97.0 92.0 101.3 95.3 109.3 95.5 94.6 95.0 85.2 104.0 84.9 99.5 91.5 90.8 116.7 79.8 85.9 97.2 70.4 72.0 77.0 49.9 102.6 99.1 94.8 107.4 89.5 95.8 g2.9 97.7 95.7 84.3 82.8 78.4 87.7 81.1 60.4 29.5 93.2 77.6 58.4 93.5 94.6 109.3 96.9 93.4 131.6 96.0 95.3 126.3 78.6 78.2 76.4 59.5 114.9 -115.3 101.4 121.1 102.4 107.2 97.4 103.5 97.0 85.4 93.6 93.6 101.1 110.5 69.0 30.3 103.0 89.3 71.0 102.8 110.1 97.0 93.4 132.7 97.0 96.3 126.5 79.3 78.0 77.0 68.9 115.3 115.5 101.4 121.8 102.5 107.4 97.4 103.6 97.0 $5.6 97.9 95.2 105.3 111.4 69.6 30.3 104.3 89.3 71.0 102.9 12,381 13.100 13.165 9.805 4.367 4.615 .090 .108 10.288 4.732 4.926 .134 .196 10.288 4.737 4.924 .134 .198 18.17 .066 .078 20.32 .086 .103 20.32 .087 .104 • .288 .388 .071 .414 .500 .137 .413 .504 .139 .32 .17 .35 .26 .35 .25 5.00 3.20 2.26 1.80 5.90 3.85 2.73 2.23 5.90 3.85 2.74 2.33 .70 .62 .82 .90 ... ,78 .82 .96 .78 ' ,90 .89 .85 .89 1.28 1.34 1.26 1.20 1.25 1.31 1.23 1.21 4.85 3.71 6.48 5.86 6.33 5.74 .129 .225 .155 .218 .155 .218 23.50 24.00 25.89 23.50 24.15 25.89 23.50 24.15 25.89 .0265 .0265 .0265 34.00 .0210 19.88 34.00 .0210 18.75 34.00 .0210 18.75 .070 .081 .112 .130 .121 .136 .400 .486 .448 .531 ,448 .531 March March COMMODITY PRICES Wholesale prices (Dept. of Labor indexes): Combined index (889 quotations).—1926=10097.6 . Economic classes: Manufactured products __ .do 97.8 98.2 Eaw materials _._ do 92.3 Semimanufactured articles do 102.8 Farm products do 93.8 Grains--do 113.8 Livestock and poultry do 96.2 Commodities other than farm products*do 96.1 Foods.._— do 94.3 Dairy products do 87.7 Fruits and vegetables do 109.2 Meats do... Commodities other than farm products and 95.2 foods — 1926=100110.5 Building materials do 97.1 Brick and tile— _ _..do 93.6 Cement do133.1 Lumber . do97.1 Chemicals and allied products do 96.4 Chemicals do 126.5 Drugs and Pharmaceuticals _ _do 79.5 Fertilizer materials _do 77.7 Fuel and lighting materials .do a ( ) Gas., . do 58.3 Petroleum products do 116.7 Hides and leather products. do ~ Hides and skins.. — .-„do.._. 116.6 101.5 Leather do. 124.3 Shoes _._ do 102.6 House-furnishing goods ..do 107.7 Furnishings _ .do 97.4 Furniture __ do.~ 103.8 Metals and metal products do 97.1 Iron and steel—-•_„ _ do 85.6 Metals, nonferrous do 98.2 Plumbing and heating equipment—do 96.6 Textile products _ do 106.6 Clothing _. do 112.6 Cotton goods-do 69.8 Hosiery and underwear do 30.3 Rayon* _ .do 108.7 Woolen and worsted goods do 89.7 Miscellaneous do 71.0 Automobile tires and tubes do 102.9 Paper and pulp doWholesale prices of individual commodities: Brick, com., comp. (f. o. b. pi.)-dol. per thous— 13.215 Coal: -'" ." Anthracite, chest, comp..dol. per short ton_- 10.280 4.753 Bituminous, mine run, comp do 4.897 Bituminous, prepared sizes, comp do .134 Coffee, Santos, No. 4 (N. Y.)* dol. per l b .202 Cotton, middling (N. Y.) ..do.— Cotton cloth: Mill margins. cents per lb_. 20.25 .088 Print cloth, 64 x 60 ..dol. per yd..105 Sheeting, unbleached, 4 x 4 do Cotton yarn: .419 22/1 cones (factory).dol. perlb.. .506 40/s, southern, Boston.. _-do .140 Cottonseed oil, refined (N. Y.) do'-.~ Dairy products: .35 Butter, 92-score (N. Y.)___. do .24 Cheese, No. 1 Amer. (N. Y.) do..-. Milk: Condensed (sweetM) (N. Y.) dol. per case-. 5.90 3.85 Evaporated (unsweetened) (N. Y.)..do Fluid, dealers',- stand. gr__.dol. per 100 l b . . 2.75 2.60 Flaxseed, No. 1 (Mpls.).._ ..dol. per bu.. Grain and grain products: Corn: .82 No.'3 yellow (Chicago) do .97 No. 3 white (Chicago) _ do Weighted avg., 5 mkts., all grades...do Wheat: 1.24 No; 1, Dark Nr. Spring (Mpls.) .do.... 1.30 No'. 2, Red Winter (St. Louis) do.— 1.21 No. 2, Hard Winter (K. O.) do—. 1.19 Weighted avg.f 6 mkts., all grades...do Wheat flour: Standard patents (Mpls.) dol. per bbl-. C.17 5.63 Winter straights (K. O.)~— do.— Hides: Packers', heavy, native steers...dol. per l b . . .155 .218 Calfskins, packers, 8 to 15 lb do Iron and steel: Pig iron: Basic (valley furnace)--dol. per long ton.. 23.50 Composite _ do.-i. 24.17 Foundry No. 2, northern (Pitts.) d o — 25.89 Steel: Composite, finished steel. dol. perlb-. .0265 Steel billets, reroUing (Pittsburgh) dol. per long ton-. 34.00 .0210 Structural steel (Pittsburgh)...dol. perlb. Steel scrap (Chicago) dol. per long ton.. 18.75 Lard, in tierces: .125 Prime, contract (N. Y.) dol. perlb.. .138 Refined (Chicago). do.... Leather: • , • .453 Sole, oak, bends (Boston)* -dol. perlb.Chrome, calf, B, comp dol. per sq. ft.. .531 •Datanot available. ' Bevised. 1941 Earlier data are available in monthly issues of the Surrey and the 1940 Supplement 1942 1941 1943 JanuMarch March ary February COMMODITY PRICES—Continued Wholesale prices of individual commodities—Con. Linseed oil, N. Y c . d o l . per lb.. Livestock: Beef steers (Chicago) dol. per 1001bSteers, corn fed do Calves, vealers do Hogs, heavy (Chicago) do Sheep, ewes (Chicago) ----- do Sheep, lambs__ do Lumber: Douglas fir: Dimension, No. 1, com.*.dol. per M bd. ft.. Flooring, "B"and better* doSoutheriJ*pine: Flooring, 1x4, " B " and better* do Boards, No. 2, common*.._ do Ponderosa pine, 1x8 No. 3, common*_.do Meats: Beef, fresh,native steers (Chi.).-dol. perlb.. Hams, smoked (Chicago) do Nitrate of soda, 95 pet. (N. Y.).-dol. per cwt.. Nonferrous metals and products: Aluminum scrap, castings (N. Y.).dol. perlb.. Copper, electrolytic (N. Y.)_ do— Lead, refined, pig, desilverized (N. Y.).do— Tin, Straits (N. Y.)..__. __-do.___ Zinc, prime western (St^Louis) do-... Brass sheets, mill. .T._...:: IZ...—... .do.". Oleomargarine, stand., uncolored (Chi.).do.... Petroleum and products: Crude petroleum (Kans.-Okla.).dol. perbbl.. Fuel oil (Pennsylvania)* -dol. pergal.. Gasoline, tank wagon (N. Y.) do Gasoline, refining (Okla.) _ ...do Kerosene, water white, 47°, refinery do Lubricants, cylinder, refinery (Penn.).do Potatoes, white (N. Y.) dol. per 100 lb.. Rayon, viscose, 150 denier, first quality minimum filament* dol. per lb._ Rosin, gum " H " (Sav.), bulk..dol. per 100 lb.. Silk, raw, Japanese, 13-15 (N. Y.)..dol. per lb.. Sugar, raw, 96°, centrifugal (N. Y.)_ do.... Sugar, refined, granulated (N. Y.)._ do.... Turpentine, gum, spirits (Sav.)...dol. per gal.. Veg. shortenings, tierces (Chi.) dol. per l b . . Wood pulp: Sulphate, Kraft No. 1 dol. per 100 lb.. Sulphite, unbleached. _do_._. Wool: Raw, territory, fine scoured dol. perlb.. Raw, Ohio and Penn. fleeces.,. do.-... Suiting, unfinished worsted, 13 oz. (at mill) dol. per yd.. Worsted yarn, 2/32's (Boston) dol. per lb.. Purchasing power of the dollar: Wholesale prices1923-25=100.. Retail food prices.. .do.... Prices received by farmers do Cost of living _ do-... 0.133 0.099 0.113 0.119 12.59 13.36 13.80 13.51 6.91 11.00 10.81 12.46 11.28 7.53 6.27 10.29 12.60 13.11 14.09 11.37 6.34 11.88 12.39 12.66 13.50 12.49 6.48 11.25 32.340 44.100 24.990 35.280 32.095 44,100 32.340 44.100 53.798 30.770 31.52 49.323 31.828 27.42 54.330 30.620 30.73 54.70S 30.G53 31.46 .200 .315 1.503 .170 .218 1.470 .198 .299 1.503 .196 .303 1.503 .0875 .1178 .0650 .5200 .0825 . 195 .150 () .1181 .0577 .5205 .0725 ".195 M25 .0873 .1178 .0628 .5200 .0825 T195 .154 .1178 .0650 .5200 .0825 .195 .153 1.110 .055 .153 .055 .063 .160 2.525 .960 .044 .129 .045 .054 .099 1.488 1.110 .050 .150 .060 .064 .160 2.638 1.110 .052 .152.060 .063 .160 2.719 .550 3.06 3.080 .037 .053 .733 .165 .530 1.78 2.816 .033 .048 .391 .097 .550 3.16 3.080 .037 .053 .761 .164 .550 3.22 3.080 .037 .053 .761 .165 3.625 3.713 3.375 3.463 3.625 3.713 3.625 3.713 1.175 .5150 1-.079 .4550 1.135 .4900 1.161 .5150 2.599 1.800 2.030 1.519 2.228 1.800 2.320 1.800 103.2 106.6 100.7 123.6 128.5 142.7 117.8 104.9 108.9 98.6 107.6 104.1 108.3 101.4 106.8 135 110 135 105 94 78 94 74 68 118 '111 '89 M28 '100 237 232 247 221 236 212 209 231 194 216 229 224 240 215 230 231 225 241 215 230 Advertising: Newspaper advertising: Linage, total (52 cities) thous. of lines. 106,908 .14,377 89,341 ' Classified... *..:~:i do... 21,975 24,712 19,064 Display, total do-._ 84,932 89,665 70,277 1,320 5,907 Automotive do--_ 2,204 1,841 l', Financial do~. General.. — d o . _ . 16,268 17,228 13,076 Retail _ do... 64,878 64,689 53,677 87,944 18,192 69,752 1,560 1,339 14,662 52,191 CONSTRUCTION AND REAL ESTATE Contract awards: Value of contracts awarded (F. R. indexes): Total, unadjusted 1923-25=100.. Residential, unadjusted do.... Total, adjusted _ do.... Residential, adjusted -do... Construction cost indexes (Amer. Appr. Co.):t Average, 30 cities _ 1913-100. Atlanta _,_.do™. New York ....do... San Francisco ....— do... St. Louis do... DOMESTIC TRADE FINANCE 5,401 5,433 5,661 5,392 i ^ ^ m E o f d o l . Life insurance: Association of Life Insurance Presidents: Insurance written: 677 770 816 724 Policies and certifs., total thousands 32 33 43 55 Group -do 41S 404 514 456 Industrial I" do™ 227 334 259 213 Ordinary _ -do.._ Value, total— - " thous. of dol. 652,459 646,196 955,353 650,649 Group I -do... 9L826 41,992 49,076 50,231 Industrial".""""". d o - . 140,735 148,978 119,820 126,492 Ordinary ' d o . . . 413,898 455,226 786,457 473,926 *New series. See note on corresponding item in the March 1942 SURVEY. tRevised series. See note on corresponding item in the March 1942 SUBVIT. t MONTHLY BUSINESS STATISTICS—Continued Earlier data are available in monthly issues of the Surrey and the 1940 Supplement 1943 1942 1941 March March January February Earlier data are available in monthly issues of the Survey and the 1940 Supplement FINANCE-Contlnued EMPLOYMENT AND WAGES Life insurance—Continued: Life insurance Sales Research Bureau: Insurance, written, ordinary, total thous. of dol_, 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.__. Capital notations: Securities issued, total do.... New capital, total do Domestic, total . do Corporate, total . -do Farm loan and other Gov. agen.do Municipal, State, e t c . . . . do Refunding, total do__. Domestic, total do Corporate, total do Farm loan and other Gov. agenldo Municipal, State, etc.... do,... Corporate securities issued by type of bor. rower, total .tbous. ofdoL. New capital, total— -.do ' Industrial. _ do Public utilities.. do.... Railroads do Refunding, total. _ do Industrial do Public utilities.. do.... Railroads do Labor conditions: Avg. weekly hours per worker in factories: U. S. Dept. of Labor (90 industries) .hours. Wages: Factory average weekly earnings: U. S. Dept. of Labor (90 industries) • dollars. Durable goods do... Nondurable goods _ ..do... Factory average hourly earnings: U. S. Dept. of Labor (90industries).do,... Durable goods ...do—_, Iron and steel, etc., not Inch mchy. do.... Blastfurnaces, steelworks, etc.do.... Hardware do— Struct'l and ornam'l metal work dollarsTin cans and other tinware.__do— Lumber and allied products do.... Furniture. — __do-._. Lumber, sawmills. do—. Machinery, excl. transp. equip..do.-.. Agric'l Implements (incl. trac's) dollars., Electrical machinery, etc do.... Engines, turbines, etc... do... . Foundry and machine-shop prod dollars. Machine tools*.... do— Radios and phonographs do— Metals, nonferrous, and prod . . d o . . . Brass, bronze, and copper prod., do— Stone, clay, and glass products._do~. Brick, tile, and terra cotta do— Glass do— Transportation equipment do~_ Aircraft*.. do— Automobiles do.._ Shipbuilding* ..do... Nondurable goods do--. Chem., petroleum, and coalprod.do—. Chemicals do... Paints and varnishes do... Petroleum refining _ do... Rayon and allied products do— Food and kindred products do— Baking do— Slaughtering and meat packing do. - Leather and its manufactures. __ do— Boots and shoes do— 552,044 598,217 1,001,653 634,538 51,310 42,030 46,533 83,056 138,708 160,635 309,292 175,355 126,330 138,612 220,739 141,939 53,182 54,634 87,332 60,218 60,754 52,173 59,030 91.272 24,960 25,156 38.273 24,742 46,534 47,986 67.602 44,577 14,533 14,517 21,694 15,345 53,594 51,114 178,528 191,148 406,136 103,551 182,750 181,760 122,021 103,551 182,750 181,760 122,021 73,085 87,186 55,209 8,860 11,175 9,440 21,606 •"86,676 83,399 29,922 87,597 223,386 151,478 66,508 87,597 219,386 151,478 56,508 82,846 18,901 115,288 21,315 ' 11,125 33,775 34,857 11,027 '92,973 27,073 112,294 201,922 73,085 86,634 40,818 26,612 24,072 39,661 3,120 5,660 39,209 115,288 6,000 41,500 32,236 67,602 3,000 0 170,032 87,186 46,150 28,101 9,890 82,846 499 82,120 0 74,109 55,209 24,067 25,970 3,750 18,901 12,626 6,275 0 FOODSTUFFS AND TOBACCO Fermented malt liquors: Production thous. of bbl__ Tax-paid withdrawals _ do.... Stocks ___do___ Distilled spirits: Production _ _thous. of tax gal., Tax-paid withdrawals : do Stocks _ do.... Whisky: Production do Tax-paid withdrawals do Stocks _ __do___. Rectified spirits and wines, production, total 1 thous. of proof gal.. Whisky do. Tropical products: Coffee, visible supply, V. S—thous. of bags.. Tobacco, manufactured products: Consumption (tax-paid withdrawals): Small cigarettes _ ..millions.. Large cigars thousands.. Mfd. tobacco and snuff _ ..thous. of lb_. 5,154 4,577 8,491 • 4,466 3,814 8,262 4,432 3,970 7,672 4,438 3,763 8,148 » 10, 571 15,514 18,535 12,903 9,413 9,233 11,312 8,450 542,884 541,931 574,937 577,140 10,020 12,643 13,088 11,486 6,417 7,501 6,519 6,619 520,765 495,735 516,456 519,790 6,481 5,627 4,211 3,380 1,709 6,006 4,627 6,249 4,881 1,102 1942 1941 1942 February February December 40.0 41.2 ' 33.70 ' 38.62 '26.91 1,471 41.5 35.76 41.60 27.31 28.56 32.90 23.23 .803 .692 .762 .787 .871 .801 .747 .791 .866 .689 .983 '.742 .904 .986 '.752 .709 .613 .655 .586 .906 .750 .638 .534 .560 .517 .772 .857 .703 .602 .642 .572 .879 .875 .714 .607 .647 .579 .947 .903 1.101 .818 .776 .857 .879 .928 .748 .872 .956 .759 .674 .834 1.059 .948 1.158 1.086 .700 .881 .950 .830 1.104 .812 .712 .696 .786 .658 ' .628 .854 .765 .882 1.076 .592 .574 .629 .544 .762 .801 .640 .740 .811 .685 .589 .774 .918 .784 .975 .900 .621 .770 .826 .746 ,970 .702 .651 .644 .685 .564 .540 .803 .661 .792 -.981 .514 .492 .561 .495 : r 35.15 ' 41.00 '26.96 .924 - .935 - '.878 '.898 r 1.056 ' 1.110 .858 .908 '.726 '.848 .918 .753 .666 .837 1.035 .916 1.107 1.060 .695 .881 .941 .822 1.106 .797 ,703 .695 .782 .649 • .618 .855 .747 .875 1.058 ' .583 .571 .609 Rubber tires and inner tubes..do... Textiles and their products do— Fabrics do.._ 17,016 15,529 19,503 16,628 Wearing apparel._______ do— 489,727 430,326 458,277 441,805 Tobacco manufactures:... _do— 27,920 28,253 27,938 24,426 FUELS AND BYPRODUCTS Petroleum and products: METALS Crude petroleum: ' Nonferrous metals, copper: Consumption (runs to stills).thous. of bbl. 105,776 100,445 124,985 Production: 1 Mine or smelter (including custom inProduction : _ do— 113,961 100,791 128,293 •81take) short tons:. 92,202 85,701 ••88,254 '80,148 • Refinery operations pet. of capacity. 89,552 95,322 90,017 81,724 Refinery _ do Stocks, end of month: 111, 062 134,339 130,467 107,616 Deliveries, refined, total do California: 63,378 23,227 79,537 Stocks, refined, end of month do Heavy crude and fuel thous. of bbl. 89,873 81,371 77,329 35,596 Llght crude.. d o . . . 39,184 PAPEE AND PRINTING East of California, total...__do— 213,395 220,046 203,423 42,260 43,154 43,387 Newsprint: Refineries... _. _ do— Canada: Tank farms and pipe lines do— 170,008 .177,786 160,269" Production _ short tons.. 295,835 275,769 311,904 278,101 Refined petroleum products: 308,166 265,724 .291,998 264,621 - •* Gasahdfueloils: ' Shipments from mills.... do Stocks, at mills, end of month do___ 144,626 186,182 143,477 156,957 ' Production: • 25,944 31,127 27,254 United States: • Residual fuel oil _-_ do___ 14,732 17,142 15.194 251,042 258,518 231,961 216,109 Consumption by publishers do Gas oil and distillate fuels, totah.do— 80,923 87,376 84,628 76,234 Production.. do Stocks: • 21,154 24.855 18,569 82,176 85,503 80,787 75,247 Shipments from mills do Residual fuel oil —-i do— 25,542 33,711 Stocks* end of month: Gas oil and distillate fuels, totaL.do— At mills. d o . . . . 11,161 18,790 11,427 12,414 Motor fuel: 48,374 63,573 51,612 At publishers do Production, total do... 368,520 252,856 366,236 370,101 323 280 189 Benzol. . 1 . - . . do— In transit to publishers do. 47,376 44,312 46,362 55,336 20,112 24,913 19,226 Straight-run gasoline do— 23,417 32,255 26,006 STONE, CLAY, AND GLASS Cracked gasoline -_......~.do— 6,082 4,565 6,768 PRODUCTS Natural gasoline ' do,4,622 3,510 4,456 Portland cement: Natural gasoline, blended. do-~ Stocks, gasoline, end of month: Production thous. of bbl__ 12,733 10,596 12,370 10,787 88,609 86,413 Finished gasoline, total. _ i _ — d o — 100,186 Shipments .do »,120 '8,296 12,563 9,915 : At refineries. _—.1 do— 72,990 61,756 56,325 25,838 25,988 23,186 25,668 Stocks, finished, end of month- _ do 4,275 5,311 5,209 ' Natural gasoline _ ..do— 6,532 Stocks, clinker, end of month do 5,021 '5,840 6,276 Kerosene: 1 . Plate glass, polished, production 6,682 5,888 6,133 5,600 9,143 ' Production _ •„:_____.do— 5,565 18,266 thoua. ofsq.ft— 7,634 6,193 1,457 1,639 . Stocks, refinery, end of month do— 1,417 1,583 Window glass, production thous. of boxes.. ; 89.7 100.9 Lubricants: 87.3 97.5 Percent of capacity _ 3,554 2,522 3,174 Production _ __.: do... 8,790 8,429 Stocks, refineryt end of month do— TEXTILE PRODUCTS 8,127 Cotton: TEXTILE PRODUCTS Consumption _ bales.. 966,631 854,767 945,909 893,745 Finished cotton cloth; production: Spindle activity: Bleached, plain _ thous. of yd._ 176,227 159,429 180,792 23,078 23,077 22,806 Active spindles__ thousands,^ 23,096 126,465 120,108 126,677 Dyed, colors -•— 1 do 11,364 10,457 9,593 Active spindle hrs., total mil. of hrs_. 11,374 6,750 5,528 6,668 Dyed, black. . . — — _•-___--——do.—. 435 393 471 ' 473 Average per spindle in place hours.. 91,674 83,791 107,358 Printed do 136.9 11&9 135.9 134.3 Operations . . . . p e t . of capacity.. i Data do not include high-proof spirits. 'BevJsed. * N e w series. Bee note on corresponding item in the March 1942 Surrey. 850 January .874 .926 '.739 '.865 '.949 .751 1.069 '.957 1.168 1.079 .701 .886 .949 .824 1.107 .800 .718 .697 .791 .649 '.616 .852 '.759 .886 ' 1.086 .589 .574 .620 .549 119,032 128,262 82 22,768 37,767 207,859 45,085 162,774 29,405 16,902 23,120 40,801 -60,035 .. 208 22,725 30,324 '7,488 5,351 93.489 64,996 4,802 : 6,634 6,087 3,497 8,266 102,1229 133,624 8,547 82,267
@FedFRASER