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SURVEY OF CURRENT BUSINESS
CiO
Ciw
WEEKLY SUPPLEMENT
UNITED STATES DEPARTMENT OF COMMERCE
BUREAU OF FOREIGN AND DOMESTIC COMMERCE
WASHINGTON, D. C., APRIL 29, 1943
SELECTED BUSINESS INDICATORS
STEEL INGOT PRODUCTION
ELECTRIC POWER PRODUCTION
MEMBER BANK RESERVE B A L A N C E S
(1935 - 3 9 • >00>
(BILLIONS OF KILOWATT HOURS)
(BILLIONS OF DOLLARS)
240
220
200
180
160
>Tt 111111111 n 1111! ii 111111111111 n i 1,11 f 111 n 111111
100
'-t'J I i > i I " i I i i i t i i i t I i i i I i i t i I i i i I [ i t I n i i 1 n i I i
PRICES OF 3 5 4
INDUSTRIAL PRODUCTION
350
(SEASONALLY ADJUSTED, 1935-39*100)
mohthlt oat*
100
250
Durable hManufactures ^
200
r
Totat tndi/st-
^ *
Nondurable Manufactures
_.,.!, i I « . ,t •i ii I , J . i 1 i «
1940
,. 1111,. 11.
1941
wS
IrJ
150
aO
STOCKS
WEDNESDAY CLOSE
300
100
INDUSTRIAL
( 1 9 3 5 - 3 9 « 100)
110
i. 1 1 . 1 1 1 1 1 .
V
A
,.)..!
1941
/
,
A
1 1 1 M 1 1 . 1 . .i i 1 • i 1 i i
1943
WEEKLY BUSINESS STATISTICS *
1943
1942
1943
Apr. 24 Apr. 17 Apr. 10 Apr. 25 Apr. 18
Commodity prices, wholesale:
All commodities
1926= 100_
Farm products
do...
Food
do...
All other
do__.
28 basic commodities©_.August 1939=100.
Cotton, mid. 1 W , 10 mkts.J..dol. per lb.
Wheat, No. 2, hd. win. (K.C.)__doi. per bn_
Department store sales
1935 39=100.
Finance:
Bank debits, member banks in 101 cities:1
Total
__.mil. of dol.
N e w York City
do...
Currency in circulation^
do...
Federal Reserve bank credit, t o t a l — d o . . .
Member bank reserve balances.
do...
Excess reserves, estimated
do...
p 103.5 P 1 0 3 . 5
124.4 1 2 4 . 3
108.3 1 0 7 . 9
j-96.8 p 9 6 . 7
176.7 1 7 6 . 8
.211
.213
.212
1.37
1.
1.3&
154
153
98.6
1018
99.6
95.6
167.0
.202
1.13
129
98.3
105.2
98.6
95.5
166.9
.203
1.14
135
9,212
16,763 13,224 11,553 9,1
7,870 5,530 5,035 3,415 3,670
16,507 16,440 16,369 11,655 11,637
6,715 7,104 6,848 2,400 2,415
12,318 13,144 13,110 12,470 12,502
2,344 2,158 1,976 2,752 2,886
1942
Apr. 24 Apr. 17 Apr. 10 Apr. 25 Apr. 18
Finance—Continued.
Federal Reserve reporting member banks:
Deposits, demand, adjusted..mil. of dol— 30,322 33,004 32,955 25,145 24,725
Loans and investments, total
do
44,127 42,250 41,646 31,393 31,502
30,487 29,475 28,998 16,435 16,446
U. S. Govt, obligationsef...
do
Commercial, industrial, and agricul5,594 5,610 6,874 6,948
tural loans
—mil. of dol.. 5,;
233
224
89
92
Failures, commercial
number. .
96
3.34
3.34
3.19
Btftid yields (Mooay's)t
percent..
3.18
3.19
62.7
90.0
63.2
91.3
Stock prices (Stan, dt Poor) A-1935-39^IOO..
Production:
1,888
2,01: 2,067 1,!
Bituminous coal}.
thous. of.short tons..
3,917 3,882 3,273 • 3,308
Electric power
.mil. of kw-hr_.
3,907 3,949 3,581 3,545
PetroleumJ
i
thous. of bbl..
Steel®
—
1935-39=100.. 192.2 191.7 193.2 185.7 185.0
847
781
861
789
Freight carloadings, total
thous. of cars..
379
377
381
Miscellaneous.
—do
• D a t a do not cover calendar weeks in all cases.
» Preliminary.
©Thursday prices.
tDaily average.
®Index for week ended M a y 1,194.0.
^Debits to demand deposit accounts, except interbank and U. S. Government accounts, in 101 cities.
cfDirect and guaranteed.
A402 stocks.
MONTHLY BUSINESS STATISTICS
1943
Earlier data are available in monthly issues of
the Survey and the 1942 Supplement
BUSINESS INDEXES
Industrial production (Federal Reserve):
Unadjusted, combined index
,.1935-32• = 1 0 0 . .
Manufactures.
do....
.do....
Durable manufactures
Iron and steel
do....
Lumber and products
-. — .do....
-do....
Furniture
.do
Lumber
do
Machinery
Nonferrous metals
.do
.do
Stone, clay, and glass products
Transportation equipment
do—
do
Nondurable manufactures
Chemicals
.do....
Leather and products
do....
Shoes
do....
Manufactured food products
do
Meat packing
do—
Paper and products.
do—
Paper ana pulp
.do....
Petroleum and coal products
do
Coke
.do—
Petroleum refining.
.do
Printing and publishing
do....
522560—43
March
P 200
*213
* 297
P 210
P 118
P 144
P104
P359
P 193
C)
» 583
»145
f 216
p 116
pllfi
*134
P 140
(•)
(•)
(•)
* a168
<)
p
116
1943
March
168
177
228
200
129
147
120
268
181
140
330
137
166
129
130
121
131
155
161
122
162
116
126
1943
1943
January
194
208
287
203
108
141
91
347
200
138
564
143
206
119
117
142
171
130
'135
116
166
109
111
February
'197
211
'292
' 208
114
144
99
'352
'199
132
'572
'145
'213
'122
'119
'135
147
137
140
120
169
113
'114
Earlier data are available in monthly issues of
the Survey and the 1942 Supplement
BUSINESS INDEXES—Continued
Industrial production (Federal Reserve)—Con.
Unadjusted—Continued.
Manufactures—Continued.
^Nondurable manufactures—Continued.
Textiles and products......1935-39** 100.
Cotton consumption...
do...
Rayon deliveries
.—do...
Wool textile production
do...
Minerals
....do...
Fuels
.doAnthracite
do...
Bituminous c o a l . . .
do...
Crude petroleum
do...
Metals..
do..
Adjusted, combined index §
do..
1943
March March
p 158
1943
Janu*
ary
153
p 181
175
(•)
148
p125
118
133
122
128
116
161
140
123
115
(•)
97
P203
172
Manufactures
do...
p 215
180
Durable manufactures
do..
p298
230
Lumber and products
do..
p 123
134
Lumber
do..
p 112
128
'
Stone, clay, and glass products
do..
(«)
158
p148
139
Nondurable manufactures
do..
p211
161
Chemicals
do..
P 113
124
Leather and products
....do..
p 110
122
Shoes
do..
shown; see unadjusted
3 for which seasonal factors have been fixed at 100 are not
February
157
171
180
153
117
124
102
145
118
73
199
212
291
124
116
163
149
207
121
120
series.
'160
171
' 181
166
123
131
129
157
121
•76
'202
215
'295
'129
'121
155
'150
'213
'117
'117
2
MONTHLY BUSINESS STATISTICS—Continued
Earlier data are available in monthly issues of
the Survey and the 1942 Supplement
BUSINESS I N D E X E S - C o n t i n u e d
1943
1943
March March
1943
January
February
Earlier data are available in monthly issues of
the Survey and the 1942 Supplement
1943
1943
March March
January
COMMODITY PRICES—Continued
Industrial production—Continued.
Wholesale prices of individual commodities—Con.
Ad j usted §—Continued.
Petroleum and products:
Nondurable manufactures—Continued.
Fuel oil (Pennsylvania)
dol. per gal.
.055
.059
Manufactured food products. _. 1935-39=100
p 152
136
p 155
p 159
Kerosene, water white, refinery
do...
.066
.063
.063
Meat packing
_
do.
f 154
144
153
145
Potatoes, white (N. Y.)
dol. per 100 lb.
3.394
1.920
2.379
Paper and products
do.
152
135
131
Rosin gum, "H" (Sav.), bulk
dol. per cwt.
3.06
3.57
3.50
Paper and pulp
do..
158
137
' 135
.673
Turpentine, gum (Savannah)
dol. per gal.,
.635
Petroleum and coal products
...do..,
122
120
117
Petroleum refining..
do..
116
113
109
(«)
DOMESTIC TRADE
r
Printing and publishing
do.,.
121
113
113
p 112
-etail trade:
Tobacco products
do_.
140
131
125
(')
All retail stores, total sales!
mil. of dol.
5,052
4,474 ' 4,434
f
Minerals
do..
126
132
126
p 134
Durable goods stores
do
822
804
651
Metals
do.
138
140
153
(«)
Nondurable goods stores!
do
4,230
3,670 ' 3,783
All retail stores, indexes of sales:
COMMODITY PRICES
Unadjusted, combined index!.. 1935-39 ~ 100.. 150.7
137.2 r 137. 7
"Wholesale prices (U. S. Department of Labor):
100.1 ••82.5
Durable-goods stores...
do
99.9
Combined index (889 quotations)
1926=100, p 103.
97.6 101.9 p 102.5
Nondurable goods stores!
do
149.3 ' 155.6
167.2
Economic classes:
Adjusted, combined indexf
do
'156.9
142.8
159.5
Manufactured products
..do.
*100.
100.1 p 100.3
97.8
Durable goods stores
do
111.6 ' 103.5
111.3
Raw materials
do.
p 112.
109.6
98.2 108.2
Nondurable goods stores!
:
do
>•174.3
152.9
175.1
Semimanufactured articles.
do_.
93.
92.9
92.3
92.8
Variety-store sales, combined sales, 7 chains:
Farm products
do.
p 122.
119.0
102.8
117.0
Unadjusted
1935-39=100.. p 123.6 116.1
106.1
Grains
do.
112.
108.6
107.3
93.8
Adjusted
do
p 147.4 133.6
144.6
Livestock and poultry
do..
135.
132.8
129.2
113.8
Rural sales of general merchandise:
p 99.
p
98.7
Commodities other than farm products.do..
98.5
96.2
Total U. S., unadjusted
1929-31=100.. f 185.6
152.2
185.6
107.
105.8
Foods
do__
105.2
96.1
Total, U. S., adjusted...
do... >211. 3 211.4
200.0
93.
92.2
Cereal products
.do.._
90.6
90.6
113.
113.3
Dairy products
do...
94.3
113.4
FINANCE
115.
108.5
Fruits and vegetables
do
102.6
87.7
Meats..
do
115.5 Industrial and commercial failures:
115.5
109.2
115.5
Commodities other than farm products and
Grand total
_ .number. _
410
1,048
458
foods
1926=100,, p 96.5
p 96.2
95.2
96.0
Commercial service, total
do
23
48
28
Building materials.
do.—
110.2
110.4
110.5
109.8
Construction, total
do
41
77
53
Brick and tile
do...
98.7
97.1
98.6
98.7
Manufacturing
and
mining,
total
do
79
188
79
Cement
do___
94.2
94.2
94.2
93.6
Retail trade, total
do
232
650
267
Lumber
do...
134.6
134.6
133.3
133.1
35
85
Wholesale trade, total
do
31
Paint and paint materials
do..
102.2
101.2
100.8
100.6
12,011
Liabilities, grand total
thous. of dol_. 7,
5,515
Chemicals and allied products
do
100.0
100.3
97.1
100.2
1,194
Commercial service, total
do
305
Chemicals
do
96.9
96.4
96.9
96.4
896
Construction, total
do....
903
Drugs and pharmaceuticals
do.
165.0
165.5
165.4
126.5
3,739
Manufacturing and mining, total
do
2,249
4,144
Fertilizer materials
do.,
79.0
79.0
79.0
79.5
4,813
Retail
trade,
total
do...
1,540
1,800
Oils and fats
do.
101.5
101.5
108.8
101.5
1,1
Wholesale trade, total.
do...
372
Fuel and lighting materials
do..
80.
79.8 Security
79.3
77.7
markets:
Petroleum products
do..
61.5
61.2
58.3
60.8
Stocks:
Hides and leather products
.do.-.
J17.
117.8
116.7 117.
Dividend payments, by industry groups:!
Hides and skins.
....do...
116.0
116.0
116.
116.0
Total dividend payments.....:mil. of doh
282.1
SIS. 8 347.9
Leather
do_.
101.
101.3
101.3
101.5
Manufacturing
^
do
212.9 ;' 91.9
198.5
Shoes
do..
126.4
126.4
124.3 126.4
Mining
.do
'1.7
23.0
23.0
House-furnishing goodsdo..
102.
102.
102.5
102.6
Trade...
do...
28.3 9 16.2
22.1
107.3
Furnishings
_.do__
107.3
107.3
107.7
*
73.3
18.3
Finance
do..
16.0
97.7
Furniture
do.—.
97.7
97.4
97.4
9.3 '16.7
Railroads
do..
12.1
Metals and metal products
do
P103.8
103.8
P103.8
103.8
31.9 f'33.7
29.7
Heat, light, and power
do...
Iron and steel
do.-.
97.2
97.2
97.2
97.1
46.0
16.5
Communications
do...
9.5
Metals, nonferrous
do...
86.0
86.0
86.0
85.6
'2.6
7.7
Miscellaneous
do.
Plumbing and heating equipment, .do
90.4
90.4
90.4
Textile products
do...
97.3
97.3
97.3
FOODSTUFFS AND TOBACCO
Clothing
..do...
107.0
107.0
107.0
106.6
Cotton goods
do...
112.5
112.6
112.6
112.6 Dairy products, production:
Butter, creamery (factory)
thous. of lb. 140,075 135,920 122,880
Hosiery and underwear
do—
70.5
69.8
70.5
70.5
Cheese, total (factory)
do... 74,345 13,695 60,155
Rayon
do.
30.3
30.3
30.3
30.3
Condensed and evaporated milk, case goods:
Woolen and worsted goods
do..
108.7
112.4
112.4
112.4
. Condensed (sweetened)
thous. of lb. 10,004
89.7
8, 250
6,105
90.7
91.4
Miscellaneous
do_.
90.9
Evaporated (unsweetened)
do... 252,869 339, 522 203. 786
71.0
73.0
73.0
Automobile tires and tubes
..do
73.0
D r y skim m i l k . .
do...
42,150 54,070 30,800
102.9
100.1
Paper and pulp
do.
101.1
102.7
For human consumption
do... 40,150 48,535 29,000
Wholesale prices of individual commodities:©
thous. of bags.
850
247
13.219 Coffee, visible supply. U. S
Brick, com., comp. (f. o. b. pl.)__dol. per thous.. 13.260 13.187 13.243
Tobacco, manufactured products:
.Coal: ,,
Consumption (tax-paia withdrawals):
Anthracite, chest., comp..dol. per short ton.. 10.811 10.281 10.661
10.801
Small cigarettes.
millions- 20,612 17,016 20, 370
Bituminous, mine run, composite
do
4.753 4.866
5.020
4.949
Large cigars
thousands. 427,836 489,727 436, 744
Bituminous, prepared sizes, comp
do
4.897
5.238
5.208
5.180
Mfd. tobacco and snuff
thous. of lb. 26,856 27,919 25,297
Coke, beehive, Connellsville (furnace)...do
000 6.000
6.500
6.375
Cotton, 10 mkts. avg
___
_dol. per lb..
196
.212
.207
.204
PETROLEUM AND PRODUCTS
Cotton cloth, mill margins...
cents per lb.. 19.60
20.25
20.05
20.32
Milk
dol. per 1001b..
3.
2.75
3.08 Crude petroleum:
3.00
110,565 111, 606
Consumption (runs to stills)
thous. of bbl.
Flaxseed, No. 1 (Minneapolis)
dol. perbu__
3.17
2.60
2.97
2.76
114,473 117,227
Production
do—
Grain and grain products:
76
79
Refinery operations..........pet. of capacity.;
Barley:
8
Stocks, end of month:
.97
No. 2 malting (Minneapolis)
do
261,832
234,423
Refinable,
in
U.
S
.thous.
of
bbl..
.83
No. 3 straight (Minneapolis)
do
.70
.80
11,737 10,804
Heavy in California
do....
Corn:
Wells completed
number.,
778
1.15
1.09
.97
1.20
No. 3 white (Chicago)
do
.97
1.01
.82
.97 Refined petroleum products:
No. 3 yellow (Chicago)
do
Gas and fuel oils:
.92
.96
.80
Weighted avg., 5 markets
do
'.93
Production:
.59
.64
.54
.60
Oats, No. 3 white (Chicago)
do....
Gas oil and dist. fuel oil
thous. of bbl..
16,214 17,306
.75
.83
.75
.79
Rye, No. 2 (Minneapolis)
do.
Residual fuel oil..
do
Wheat:
8 28,095 32,544
Stocks, end of month:
1.41
1.24
1.39
L 44
No. 1 Dark Nr. Spring (Mpls)
.do
30,205 39,014
Gas oil and distillate fuel oil...
do
1.37
1.21
1.37
1.40
No. 2Hard Winter (K. C.)._,_.
do....
Residual fuel oil
do
1.36
1.19
Weighted av., 6 markets, all grades, .do
1.38
1.41
8 70,098 60,808
Motor fuel:
Wheat flour:
52,902 47,236
Production, total...
do
6.35
6.33
6.38
6.17
- Standard patents (Mpls)
dol. per bbl..
20,609 17,309
Straight run gasoline.
do
6.16
6.12
6.20
5.63
Winter straights (K. C.)
do....
25,629 23,391
Cracked gasoline...
do
.134
1.53
.143
.133
Linseed oil (N. Y.)
dol. per lb—
7,020
Natural gasoline.
do
7,360
Livestock:
4,414
Natural gasoline, blendeddo
4,425
15.14
14.84
Beef steers (Chicago)
_dol. per 100 l b - 15. 54 12.59
Stocks, gasoline, end of month:
13.49
12.67
11.47
14.49
Steers, stocker and feeder (K. C.)
do
99,184
78,475
Finished
gasoline,
total
do
14.63
14.25
13.80
15.00
Calves, vealers (Chicago)
do
73,556 66,617
At refineries.
do
15.35
14.78
13.37
15.59
Hogs, a v., all grades (Chicago)do
7,549 10,202
Unfinished gasoline
.do
Lambs:
Natural gasoline
.do
5,620 4,904
16.24
15.86
Average (Chicago)
do
15.91
12.00
Kerosene:
13.59
14.91
10.92
Feeder, good and choice (Omaha)
do
14,26
5,602
6,035
Production
...do
Lumber:
5,146
Stocks, refinery, end of month
do
5,460
Ponderosa pine, 1x8, No. 3 common
8
Lubricants:
31.36
dol. per M bd. ft— 31.47
31.54
31.52
3,533f
2,935
Production
do
Oleomargarine, stand., uncolored (Chi.)
8.470
9,725
dol. per l b „
.163
Stocks, refinery> end of month
.do
.150
150
.170
ii
« Data for February are the latest available,
p Preliminary.
'Revised.
!Revised series. See note on c
^
„
,pril 1943 SUBVEY.
..
tMinor revisions have been made in the series on dividend1 payments beginning January 1941; revisions are available on request.
jSee note marked
on p. 1.
©Of the wholesale price series for individual commodities published regularly in the SURVEY, only those which showed changes from February are included here.
II. F. GOVERNMENT PBINTIHO OFFICE; 1943
February
@FedFRASER